- Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (N-Q)

Data : 28/05/2010 @ 16:02
Fonte : Edgar (US Regulatory)

- Quarterly Schedule of Portfolio Holdings of Registered Management Investment Company (N-Q)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-08648

WT Mutual Fund

(Exact name of registrant as specified in charter)

1100 N. Market Street
Wilmington, DE 19890

(Address of principal executive offices) (Zip code)

John J. Kelley
1100 N. Market Street
Wilmington, DE 19890

(Name and address of agent for service)

Registrant's telephone number, including area code: 800-254-3948

Date of fiscal year end: June 30

Date of reporting period: March 31, 2010

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

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507.


ITEM 1. SCHEDULE OF INVESTMENTS.
The Schedule(s) of Investments is attached herewith.

WILMINGTON FUNDS -- MONEY MARKET FUNDS
PRIME MONEY MARKET FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)
 (Showing Percentage of Net Assets)
------------------------------------------------------------------------------------------------------------------------------------

 MOODY'S/S&P PRINCIPAL
 RATINGS(1) AMOUNT VALUE
 ---------- ------ -----
CORPORATE BONDS -- 1.9%
 American Honda Finance Corp., 0.65%, 08/27/10** A1, A+ $45,000,000 $ 45,000,000
 --------------
 TOTAL CORPORATE BONDS (COST $45,000,000) 45,000,000
 --------------
CERTIFICATES OF DEPOSIT -- 17.6%
 FOREIGN BANKS, U.S BRANCHES -- 17.6%
 Australia & New Zealand, NY, 0.28%, 08/24/10 P-1, A-1+ 52,000,000 52,000,000
 Bank of Nova Scotia, TX, 0.87%, 05/14/10** AA1, AA- 17,000,000 17,012,891
 Bank of Nova Scotia, TX, 0.18%, 04/23/10 P-1, A-1+ 50,000,000 50,000,000
 Barclays Bank, NY, 0.22%, 06/10/10 P-1, A-1+ 50,000,000 50,000,000
 BNP Paribas, NY, 0.26%, 06/25/10 P-1, A-1+ 50,000,000 50,000,000
 Deutsche Bank, NY, 0.26%, 07/27/10 P-1, A-1 50,000,000 50,000,000
 National Australia Bank, NY, 0.20%, 04/05/10 P-1, A-1+ 50,000,000 50,000,000
 Svenska Hanelsbanken, NY, 0.21%, 06/10/10 P-1, A-1+ 50,000,000 50,000,486
 Toronto Dominion, NY, 0.27%, 06/17/10 P-1, A-1+ 50,000,000 50,000,000
 --------------
 TOTAL CERTIFICATES OF DEPOSIT (COST $419,013,377) 419,013,377
 --------------
COMMERCIAL PAPER -- 17.7%
 FINANCE & INSURANCE -- 17.7%
 Commonwealth Bank of Australia, 0.28%, 08/11/10* P-1, A-1+ 50,000,000 49,948,667
 Societe Generale, 0.16%, 04/06/10* P-1, A-1 50,000,000 49,998,889
 Toyota Motor Credit Corp, 0.25%, 06/01/10* P-1, A-1+ 50,000,000 49,978,819
 Metlife Short-Term Funding, 0.24%, 05/10/10* P-1, A-1 25,000,000 24,993,500
 Metlife Short-Term Funding, 0.22%, 04/28/10* P-1, A-1 25,000,000 24,995,875
 Louis Dreyfus Corp., 0.23%, 04/01/10* P-1, A-1+ 46,100,000 46,100,000
 JP Morgan Chase, 0.25%, 07/06/10* P-1, A-1 50,000,000 49,966,667
 CME Group, Inc., 0.18%, 04/16/10* P-1, A-1+ 50,000,000 49,996,250
 Toyota Motor Credit Corp., 0.23%, 04/07/10* P-1, A-1+ 25,000,000 24,999,042
 General Electric Capital Corp., 0.25%, 05/27/10* P-1, A-1+ 50,000,000 49,980,555
 --------------
 TOTAL COMMERCIAL PAPER (COST $420,958,264) 420,958,264
 --------------
MUNICIPAL COMMERCIAL PAPER -- 25.9%
 Alaska Housing Finance Corp., 0.30%, 05/13/10* P-1, A-1+ 28,139,000 28,129,151
 Anchorage, AK, Ser. A, 0.32%, 04/12/10* P-1, A-1+ 40,000,000 40,000,000
 Baltimore Cnty., MD, PCRB Ser. 2002, 0.32%, 06/15/10 P-1, A-1+ 25,900,000 25,900,000
 Brown Univ., Ser. A, 0.23%, 04/07/10 P-1, A-1+ 15,200,000 15,199,417*
 Catholic Health Initiatives CO., Ser. A, 0.40%, 07/09/10 P-1, A-1+ 7,863,000 7,863,000
 City of Houston, TX, G.O. Ser. H-2, 0.25%, 05/19/10 P-1, A-1+ 10,000,000 10,000,000
 Collier Cnty., FL Health Fac. Auth. (Cleveland Clinic)
 Ser. 2003C-1, 0.35%, 04/07/10 VMIG-1, A-1+ 30,525,000 30,525,000
 Connecticut Hlth. & Ed. (Yale University), 0.25%,
 05/13/10 VMIG-1, A-1+ 15,900,000 15,900,000
 Jacksonville, FL PCRB Florida Power & Lt., 0.45%,
 04/05/10 P-1, A-2 21,700,000 21,700,000
 Jacksonville, FL PCRB Florida Power & Lt., 0.45%,
 04/05/10 VMIG-1, A-2 34,960,000 34,960,000
 Metro Govt. of Nashville & Davisville Cnty., TN, 0.30%,
 06/08/10 P-1, A-1+ 16,150,000 16,150,000
 MIichigan State Univ. Board of Trustees, Ser. I, 0.25%,
 05/05/10 P-1, A-1+ 26,000,000 26,000,000
 Ohio Higher Edu. Fac. ( Case Western Univ.), 0.30%,
 07/08/10 P-1, A-1+ 20,700,000 20,700,000
 Rochester Health Care Facs. Ser. B, MN (Mayo Clinic),
 0.30%, 06/10/10 NR, A-1+ 39,400,000 39,400,000
 San Antonio, TX Water System, Ser. A, 0.30%, 04/09/10 P-1, A-1+ 12,900,000 12,900,000
 South Carolina Public Service, 0.35%, 04/09/10* P-1, NR 22,500,000 22,498,250
 South Carolina Public Service, 0.25%, 05/10/10* P-1, NR 20,000,000 19,994,583
 South Carolina Public Service, 0.30%, 06/09/10* P-1, NR 15,000,000 14,991,375
 Sunshine St. Govt. Fin. FL, 0.23%, 04/07/10 P-1, A-1+ 50,000,000 50,000,000


 1


WILMINGTON FUNDS -- MONEY MARKET FUNDS
PRIME MONEY MARKET FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 MOODY'S/S&P PRINCIPAL
 RATINGS(1) AMOUNT VALUE
 ---------- ------ -----
 Tenn. St. School Board Auth., TN, 0.28%, 04/06/10 P-1, A-1+ $12,575,000 $ 12,575,000
 Univ. of California, 0.22%, 05/04/10* P-1, A-1+ 45,280,000 45,270,869
 Univ. of Minnesota, Board of Regents, 0.28%, 07/09/10 P-1, A-1+ 20,550,000 20,550,000
 Univ. Of Minnesota, Ser. 07-C, 0.25%, 06/10/10 P-1, A-1+ 15,000,000 15,000,000
 Univ. of Minnesota, Ser. 07-C, 0.28%, 07/09/10 P-1, A-1+ 12,000,000 12,000,000
 Vanderbilt University, Ser. C, 0.23%, 04/08/10* P-1, A-1+ 41,250,000 41,248,155
 Wisconsin Transportation Rev., Ser. 2006A, 0.23%,
 04/09/10 P-1, A-1+ 16,474,000 16,474,000
 --------------
 TOTAL MUNICIPAL COMMERCIAL PAPER (COST $615,928,800) 615,928,800
 --------------
MUNICIPAL BONDS -- 22.1%
 Calhoun Cnty., TX Naval Industrial Dev. Auth., VRDB,
 0.30%, 01/01/24** VMIG-1, A-1+ 20,000,000 20,000,000
 Connecticut St. Housing Fin. Auth., 0.30%, 05/15/39** NR, A-1 80,000,000 80,000,000
 Gulf Coast Waste Disposal Auth. B.P. Amoco, VRDB, 0.32%,
 10/01/17** VMIG-1, A-1+ 25,000,000 25,000,000
 Hurley, NM, PCRB VRDB Rev. (Kennetcott Santa Fe Proj.),
 Ser. 1985, 0.29%, 12/01/15** P-1, A-1+ 17,100,000 17,100,000
 Las Vegas Valley, NV, Water District, 0.35%, 06/01/36** NR, A-1 49,215,000 49,215,000
 Massachusetts State Dev. Fin. Agency (Harvard Univ.),
 0.26%, 07/15/33** VMIG-1, A-1+ 33,600,000 33,600,000
 Massachusetts State Health & Educational Fac. Auth. Rev.
 (Northwestern Univ.), 0.25%, 10/01/28** P-1, NR 11,700,000 11,700,000
 Michigan G.O. Ser. A, 2.00%, 09/30/10 VMIG-1, SP-1+ 20,000,000 20,145,971
 Michigan Muni. Bond Auth., 3.00%, 08/20/10 NR, SP-1+ 19,500,000 19,618,794
 Mississippi Business Finance Corp. Chevron, 0.30%,
 12/01/30** VMIG-1, NR 12,800,000 12,800,000
 New Hampshire Health & Educ. Fac. Auth. VRDB, 0.25%,
 06/01/32** VM1G-1, A-1+ 30,985,000 30,985,000
 New Jersey Health Care Fac. Fin. Auth. VRDB, 0.28%,
 07/01/36** VMIG-1, A-1+ 16,000,000 16,000,000
 Texas Transportation Commission, 0.30%, 04/01/36** VMIG-1, NR 42,600,000 42,600,000
 Washington State Health Care Fac. Auth., 0.29%,
 01/01/32** VMIG-1, A-1+ 65,475,000 65,475,000
 Wisconsin Housing & Econ. Dev. Auth. Home Ownership
 Rev., 0.34%, 03/01/36** P-1, A-1+ 80,125,000 80,125,000
 --------------
 TOTAL MUNICIPAL BONDS (COST $524,364,765) 524,364,765
 --------------
U.S. AGENCY OBLIGATIONS -- 6.5%
 FEDERAL HOME LOAN BANKS NOTES -- 6.5%
 Federal Home Loan Banks Notes, 0.90%, 04/07/10 25,000,000 24,999,752
 Federal Home Loan Banks Notes, 0.82%, 04/23/10 13,000,000 13,000,079
 Federal Home Loan Banks Notes, 0.55%, 06/03/10 50,000,000 50,000,000
 Federal Home Loan Banks Notes, 3.00%, 06/11/10 40,000,000 40,213,224
 Federal Home Loan Banks Notes, 0.50%, 01/05/11 25,000,000 25,000,000
 --------------
 TOTAL U.S. AGENCY OBLIGATIONS (COST $153,213,055) 153,213,055
 --------------
ASSET-BACKED COMMERCIAL PAPER -- 4.5%
 CONSUMER PRODUCTS -- 4.5%
 Old Line Funding, 0.18%, 04/12/10* P-1, A-1+ 40,021,000 40,018,799
 Straight-A Funding LLC, 0.18%, 05/10/10* P-1, A-1+ 68,000,000 67,986,740
 --------------
 TOTAL ASSET-BACKED COMMERCIAL PAPER (COST $108,005,539) 108,005,539
 --------------

 SHARES
 ------
MONEY MARKET MUTUAL FUNDS -- 3.8%
 AIM STIT - Liquid Assets Portfolio 90,555,000 90,555,000


 2


WILMINGTON FUNDS -- MONEY MARKET FUNDS
PRIME MONEY MARKET FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES
 ------
 BlackRock Liquidity Funds TempFund Portfolio -
 Institutional Series 2,010 $ 2,010
 --------------
 TOTAL MONEY MARKET MUTUAL FUNDS (COST $90,557,010) 90,557,010
 --------------
TOTAL INVESTMENTS -- 100.0% (Cost $2,377,040,810)+ $2,377,040,810
OTHER ASSETS IN EXCESS OF LIABILITIES -- 0.0% 1,002,726
 --------------
NET ASSETS -- 100.0% $2,378,043,536
 ==============

(1) Although certain securities are not rated (NR) by either Moody's or S&P, they have been determined to be of comparable quality
 to investment grade securities by the investment adviser. The ratings shown are unaudited.
* Discounted commercial paper. The interest rate shown is the yield as of the time of purchase.
** Denotes a Variable or Floating Rate Note. Variable or Floating Rate Notes are instruments whose rates change periodically. The
 rates shown are the interest rates as of March 31, 2010. The dates shown are the next dates the interest rates on the
 instruments are scheduled to be reset.
+ Cost for federal income tax purposes.

G.O. - General Obligation
PCRB - Pollution Control Revenue Bonds
VRDB - Variable Rate Demand Bonds


 3


WILMINGTON FUNDS -- MONEY MARKET FUNDS
PRIME MONEY MARKET FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)

The following table provides a summary of inputs used to value the Fund's net assets as of March 31, 2010:

 LEVEL 2 - LEVEL 3 -
 TOTAL VALUE AT SIGNIFICANT SIGNIFICANT
 MARCH 31, LEVEL 1 - OBSERVABLE UNOBSERVABLE
 2010 QUOTED PRICES INPUTS INPUTS
 --------------------------------------------------------------------
INVESTMENTS IN SECURITIES:
Corporate Debt $ 992,977,180 $ -- $ 992,977,180 $ --
Municipal Securities 1,140,293,565 -- 1,140,293,565 --
U.S Agency Obligations 153,213,055 -- 153,213,055 --
Money Market Mutual Funds 90,557,010 90,557,010 -- --
 --------------------------------------------------------------------
Total $ 2,377,040,810 $ 90,557,010 $ 2,286,483,800 $ --
 --------------------------------------------------------------------


WILMINGTON FUNDS -- MONEY MARKET FUNDS
U.S. GOVERNMENT MONEY MARKET FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)
 (Showing Percentage of Net Assets)
------------------------------------------------------------------------------------------------------------------------------------

 PRINCIPAL
 AMOUNT VALUE
 ------ -----
U.S. AGENCY OBLIGATIONS -- 67.2%
 FEDERAL HOME LOAN BANKS DISCOUNT NOTES(1) -- 18.2%
 Federal Home Loan Banks Discount Notes, 0.13%, 04/14/10 $ 50,000,000 $ 49,997,743
 Federal Home Loan Banks Discount Notes, 0.15%, 04/28/10 50,000,000 49,994,375
 Federal Home Loan Banks Discount Notes, 0.15%, 05/12/10 50,000,000 49,991,458
 Federal Home Loan Banks Discount Notes, 0.15%, 05/26/10 50,000,000 49,988,542
 Federal Home Loan Banks Discount Notes, 0.19%, 06/16/10 16,500,000 16,493,556
 Federal Home Loan Banks Discount Notes, 0.17%, 06/30/10 50,000,000 49,978,750
 Federal Home Loan Banks Discount Notes, 0.20%, 07/07/10 50,000,000 49,973,055
 ----------------

 316,417,479
 ----------------
 FEDERAL HOME LOAN BANKS NOTES -- 8.9%
 Federal Home Loan Banks Notes, 0.90%, 04/07/10 25,000,000 24,999,753
 Federal Home Loan Banks Notes, 0.82%, 04/23/10 12,600,000 12,600,076
 Federal Home Loan Banks Notes, 0.48%, 05/11/10 25,080,000 25,085,301
 Federal Home Loan Banks Notes, 3.00%, 06/11/10 17,105,000 17,197,395
 Federal Home Loan Banks Notes, 0.18%, 06/23/10 50,000,000 49,979,250
 Federal Home Loan Banks Notes, 0.50%, 01/05/11 25,000,000 25,000,000
 ----------------

 154,861,775
 ----------------
 FEDERAL HOME LOAN MORTGAGE CORPORATION DISCOUNT NOTES(1) -- 15.6%
 Federal Home Loan Mortgage Corporation Discount Notes, 0.28%, 04/15/10 27,150,000 27,147,044
 Federal Home Loan Mortgage Corporation Discount Notes, 0.21%, 04/19/10 50,000,000 49,994,750
 Federal Home Loan Mortgage Corporation Discount Notes, 0.18%, 04/21/10 25,000,000 24,997,500
 Federal Home Loan Mortgage Corporation Discount Notes, 0.15%, 05/04/10 5,700,000 5,699,216
 Federal Home Loan Mortgage Corporation Discount Notes, 0.15%, 05/10/10 7,063,000 7,061,852
 Federal Home Loan Mortgage Corporation Discount Notes, 0.15%, 05/17/10 50,000,000 49,990,417
 Federal Home Loan Mortgage Corporation Discount Notes, 0.19%, 06/07/10 25,000,000 24,991,160
 Federal Home Loan Mortgage Corporation Discount Notes, 0.16%, 06/08/10 30,000,000 29,990,933
 Federal Home Loan Mortgage Corporation Discount Notes, 0.20%, 08/26/10 25,000,000 24,979,583
 Federal Home Loan Mortgage Corporation Discount Notes, 0.21%, 09/01/10 25,000,000 24,977,688
 ----------------

 269,830,143
 ----------------
 FEDERAL NATIONAL MORTGAGE ASSOCIATION DISCOUNT NOTES(1) -- 17.8%
 Federal National Mortgage Association Discount Notes, 0.28%, 04/06/10 25,650,000 25,649,003
 Federal National Mortgage Association Discount Notes, 0.17%, 04/09/10 16,000,000 15,999,396
 Federal National Mortgage Association Discount Notes, 0.16%, 05/19/10 67,316,000 67,302,088
 Federal National Mortgage Association Discount Notes, 0.18%, 05/25/10 25,000,000 24,993,250
 Federal National Mortgage Association Discount Notes, 0.19%, 06/14/10 50,000,000 49,980,986
 Federal National Mortgage Association Discount Notes, 0.21%, 06/23/10 25,000,000 24,987,896
 Federal National Mortgage Association Discount Notes, 0.20%, 07/15/10 50,000,000 49,970,833
 Federal National Mortgage Association Discount Notes, 0.25%, 08/16/10 25,000,000 24,976,215
 Federal National Mortgage Association Discount Notes, 0.30%, 11/15/10 25,000,000 24,952,500
 ----------------

 308,812,167
 ----------------
 FEDERAL NATIONAL MORTGAGE ASSOCIATION NOTES -- 6.7%
 Federal National Mortgage Association Notes, 2.50%, 04/09/10 9,125,000 9,129,407
 Federal National Mortgage Association Notes, 4.63%, 06/01/10 25,000,000 25,182,929
 Federal National Mortgage Association Notes, 0.22%, 08/16/10 34,615,000 34,586,020
 Federal National Mortgage Association Notes, 0.24%, 08/16/10 22,000,000 21,979,907


 1


WILMINGTON FUNDS -- MONEY MARKET FUNDS
U.S. GOVERNMENT MONEY MARKET FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) - CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 PRINCIPAL
 AMOUNT VALUE
 ------ -----

 Federal National Mortgage Association Notes, 4.38%, 09/13/10 $ 25,000,000 $ 25,466,739
 ----------------
 116,345,002
 ----------------
 TOTAL U.S. AGENCY OBLIGATIONS (COST $1,166,266,566) 1,166,266,566
 ----------------
REPURCHASE AGREEMENTS -- 32.8%
 With Bank of America: at 0.02%, dated 03/31/10, to be repurchased on 04/01/10,
 repurchase price $418,190,232 (collateralized by various Federal National Mortgage
 Association Notes, ranging in par value $22,493,598-$48,000,000, coupon rate ranging
 from 4.50%-6.00%, 12/01/23-02/01/40, and Federal Home Loan Mortgage Corporation Notes
 ranging in par value $1,304,552-$50,034,940, coupon rates 4.50%-6.00%,
 01/01/25-11/01/38 with a total market value $430,735,700) 418,190,000 418,190,000
 With Credit Suisse First Boston: at 0.01%, dated 03/31/10, to be repurchased on
 04/01/10, repurchase price $150,000,042 (collateralized by various Federal National
 Mortgage Association Notes, ranging in par value $100,000-$9,300,000, coupon rates
 1.75%-6.00%, 12/28/12-04/18/36, and Federal Home Loan Mortgage Corporation Notes
 ranging in par value $127,450,000-$262,590,000, coupon rates 0.00%-0.00%,
 06/07/28-11/18/39 with a total market value $153,000,695) 150,000,000 150,000,000
 ----------------
 TOTAL REPURCHASE AGREEMENTS (COST $568,190,000) 568,190,000
 ----------------
 SHARES
 ------
MONEY MARKET MUTUAL FUNDS -- 0.0%
 BlackRock Liquidity Funds FedFund Portfolio - Institutional Series 3,169 3,169
 ----------------
 TOTAL MONEY MARKET MUTUAL FUNDS (COST $3,169) 3,169
 ----------------
TOTAL INVESTMENTS -- 100.0% (Cost $1,734,459,735)+ $ 1,734,459,735
OTHER ASSETS IN EXCESS OF LIABILITIES -- 0.0% 648,361
 ----------------
NET ASSETS -- 100.0% $ 1,735,108,096
 ================

(1) The interest rate shown is the effective yield as of the date of purchase.
+ Cost for federal income tax purposes.


 2


WILMINGTON FUNDS -- MONEY MARKET FUNDS
U.S. GOVERNMENT MONEY MARKET FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)

The following table provides a summary of inputs used to value the Fund's net assets as of March 31, 2010:

 LEVEL 2 - LEVEL 3 -
 TOTAL VALUE AT SIGNIFICANT SIGNIFICANT
 MARCH 31, LEVEL 1 - OBSERVABLE UNOBSERVABLE
 2010 QUOTED PRICES INPUTS INPUTS
 --------------------------------------------------------------------
INVESTMENTS IN SECURITIES:
U.S. Agency Obligations $ 1,166,266,566 $ -- $ 1,166,266,566 $ --
Repurchase Agreements 568,190,000 -- 568,190,000 --
Money Market Mutual Funds 3,169 3,169 -- --
 --------------------------------------------------------------------
Total $ 1,734,459,735 $ 3,169 $ 1,734,456,566 $ --
 --------------------------------------------------------------------


WILMINGTON FUNDS -- MONEY MARKET FUNDS
TAX-EXEMPT MONEY MARKET FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)
 (Showing Percentage of Net Assets)
------------------------------------------------------------------------------------------------------------------------------------

 MOODY'S/S&P PRINCIPAL
 RATINGS(1) AMOUNT VALUE
 ---------- ------ -----
MUNICIPAL BONDS -- 98.8%
 ARIZONA -- 2.9%
 Salt River Proj. AZ, Agric. Impt. & Pwr. Dist TECP, 0.33%, 04/09/10 P-1, A-1+ $ 8,400,000 $ 8,400,000
 --------------
 DELAWARE -- 3.5%
 Delaware Econ. Dev. Auth. VRDB (St. Andrews School Proj.), Ser.
 2003, 0.32%, 04/01/10* VMIG-1, A-1 10,100,000 10,100,000
 --------------
 FLORIDA -- 3.6%
 City of Jacksonville, FL (Florida Pwr. & Lt.) TECP, 0.24%, 04/05/10 P-1, A-2 5,600,000 5,600,000
 Orange County, FL Ind. Dev. Auth. Rev. Bonds VRDB, LOC Bank of
 America, 0.32%, 04/01/10* NR, NR 430,000 430,000
 Orange County, FL Housing Fin. Auth. Multi-Family Housing VRDB Ref.
 Rev. Bonds (Post Fountains at Lee Vista Proj)., FNMA Gtd., Ser.
 1997E, 0.29%, 04/07/10* NR, A-1+ 4,235,000 4,235,000
 --------------
 10,265,000
 --------------
 GEORGIA -- 4.0%
 Metro. Atlanta Rapid Transit Auth. TECP LOC Dexia, 0.23%, 04/06/10 P-1, A-1+ 11,500,000 11,500,000
 --------------
 ILLINOIS -- 8.6%
 Illinois Dev. Fin. Auth. Rev. VRDB (Goodman Theatre Proj.), LOC
 Banc One N.A./Northern Trust, Ser. 1999, 0.30%, 04/07/10* NR, A-1+ 13,400,000 13,400,000
 Illinois Dev. Fin. Auth. Rev. VRDB (Radiological Society Proj.),
 LOC JPMorgan Chase, Ser.1997, 0.33%, 04/07/10* NR, A-1+ 1,370,000 1,370,000
 Illinois Educ. Fac. Auth. Rev. TECP, 0.28%, 04/05/10 NR, A-1+ 3,820,000 3,820,000
 Illinois Educ. Fac. Auth. Rev. VRDB (ACI / Cultural Pooled
 Financing Proj.), LOC Bank of America, Ser. 1998, 0.28%,
 04/07/10* NR, A-1 6,325,000 6,325,000
 --------------
 24,915,000
 --------------
 INDIANA -- 0.5%
 Marion, IN Econ. VRDB (Wesleyan Univ.), LOC Bank of America, Ser.
 2006, 0.32%, 04/01/10* VMIG-1, NR 1,450,000 1,450,000
 --------------
 KANSAS -- 1.7%
 Wamego, KS PCRB VRDB (Utilicorp United, Inc. Proj.), LOC Bank of
 America, Ser. 1996, 0.30%, 04/07/10* P-1, A-1 5,000,000 5,000,000
 --------------
 MARYLAND -- 3.5%
 Maryland Health & Higher Educ. Fac. (John Hopkins Univ. Proj.)
 TECP, 0.30%, 06/15/10 P-1, A-1+ 10,000,000 10,000,000
 --------------
 MICHIGAN -- 4.0%
 Michigan St., G.O. Notes Ser. A, 2.00%, 09/30/10 VMIG-I, SP-1+ 8,000,000 8,058,389
 Univ. of Michigan VRDB (Hospital Rev. Bonds), Ser. 2007A, 0.29%,
 04/01/10* VMIG-1, A-1+ 3,500,000 3,500,000
 --------------
 11,558,389
 --------------
 MINNESOTA -- 7.4%
 Rochester, MN Health Fac. Auth. Ser. 2001-D TECP, 0.30%, 06/10/10 NR, A-1+ 9,500,000 9,500,000
 Univ. of Minnesota Board of Regents Ser. A TECP, 0.28%, 07/09/10 P-1, A-1+ 5,000,000 5,000,000


 1


WILMINGTON FUNDS -- MONEY MARKET FUNDS
TAX-EXEMPT MONEY MARKET FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) - CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 MOODY'S/S&P PRINCIPAL
 RATINGS(1) AMOUNT VALUE
 ---------- ------ -----
 Univ. of Minnesota Ser. 07-C TECP, 0.25%, 06/10/10 P-1, A-1+ $ 6,750,000 $ 6,750,000
 --------------
 21,250,000
 --------------
 MISSISSIPPI -- 3.5%
 Jackson County, MS Port Fac. VRDB (Chevron U.S.A., Inc. Proj.),
 Ser.1993, 0.28%, 04/01/10* P-1, A-1+ 4,160,000 4,160,000
 Mississippi Business Finance Corp. Gulf Opp. Zone VRDB (Chevron
 USA, Inc.) Ser. E, 0.30%, 04/01/10* VMIG-1, A-1+ 6,000,000 6,000,000
 --------------
 10,160,000
 --------------
 NEVADA -- 3.8%
 Las Vegas Valley, NV Water District G.O. Ser. A TECP, 0.22%,
 04/01/10 P-1, A-1+ 11,000,000 11,000,000
 --------------
 NEW YORK -- 3.4%
 New York City Municipal Water Finance Auth. VRDB, 0.32%, 04/01/10* VMIG-1, A-1+ 9,765,000 9,765,000
 --------------
 OHIO -- 4.5%
 Ohio Higher Educ. Fac. Auth. Ser. 2008 B-6 TECP (Cleveland Health
 Clinic), 0.25%, 06/08/10 VMIG-1, A-1+ 13,000,000 13,000,000
 --------------
 OREGON -- 3.3%
 State of Oregon Tax Antic. Notes TECP, 2.50%, 06/30/10 VMIG-1, SP-1+ 9,500,000 9,547,267
 --------------
 PENNSYLVANIA -- 4.1%
 Beaver County, PA Ind. Dev. Auth. PCRB VRDB (Atlantic Richfield Co.
 Proj.), Ser. 1995, 0.30%, 04/07/10* VMIG-1, A-1+ 4,200,000 4,200,000
 Philadelphia, PA Hospitals & Higher Educ. Fac. Auth., 0.28%,
 04/01/10 VMIG-1, A-1+ 7,500,000 7,500,000
 --------------
 11,700,000
 --------------
 TENNESSEE -- 11.2%
 Clarksville, TN Pub. Bldg. Auth. Rev. VRDB (Tennessee Municipal
 Bond Fund Proj.), LOC Bank of America, Ser. 1984, 0.37%,
 04/07/10* NR, A-1 1,045,000 1,045,000
 Clarksville, TN Pub. Bldg. Auth. Rev. VRDB (Tennessee Municipal
 Bond Fund Proj.), LOC Bank of America, Ser. 1995, 0.32%,
 04/07/10* NR, A-1 400,000 400,000
 Metro Govt. Nashville & Davidson Cnty., TN Ind. Dev. (Vanderbilt
 Univ.) TECP, 0.25%, 06/01/10 P-1, A-1+ 6,500,000 6,500,000
 Metro Govt. Nashville & Davidson Cnty., TN Ind. Dev. G.O. TECP,
 0.25%, 04/06/10 P-1, A-1+ 10,000,000 10,000,000
 Metro Govt. Nashville & Davidson Cnty., TN Ind. Dev. G.O. TECP,
 0.30%, 07/08/10 P-1, A-1+ 5,000,000 5,000,000
 Tenn. St. G.O. Ser. A TECP, 0.30%, 06/08/10 P-1, A-1+ 9,450,000 9,450,000
 --------------
 32,395,000
 --------------
 TEXAS -- 17.0%
 Bexar City, TX G.O. TECP, 0.30%, 05/06/10 P-1, A-1+ 3,900,000 3,900,000
 City of Houston, TX G.O. Ser. H-2 TECP, 0.25%, 05/17/10 P-1, A-1+ 5,000,000 5,000,000
 Harris County, TX G.O. TECP, 0.30%, 04/09/10 P-1, A-1+ 11,248,000 11,248,000
 Harris County, TX G.O. TECP, 0.28%, 06/11/10 P-1, A-1+ 2,000,000 2,000,000
 Houston, TX Higher Educ. Fin. Corp. TECP, 0.36%, 04/01/10 VMIG-1, A-1+ 8,725,000 8,725,000
 Texas St. Pub. Fin. Auth. Ser. A TECP, 0.35%, 04/07/10 P-1, A-1+ 7,700,000 7,700,000
 Texas St. Pub. Fin. Auth. Ser. A TECP, 0.30%, 04/09/10 P-1, A-1+ 4,300,000 4,300,000
 Texas Tech Univ. Rev. Ser. A TECP, 0.27%, 04/05/10 P-1, A-1+ 3,532,000 3,532,000


 2


WILMINGTON FUNDS -- MONEY MARKET FUNDS
TAX-EXEMPT MONEY MARKET FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) - CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 MOODY'S/S&P PRINCIPAL
 RATINGS(1) AMOUNT VALUE
 ---------- ------ -----
 Texas Tech Univ. Rev. Ser. A TECP, 0.30%, 04/08/10 P-1, A-1+ $ 2,500,000 $ 2,500,000
 --------------
 48,905,000
 --------------
 WASHINGTON -- 1.3%
 Washington Health Care Fac. Auth. Lease Rev. VRDB (National
 Healthcare Research & Educ. Proj.), LOC BNP Paribas, 0.27%,
 04/07/10* VMIG-1, NR 3,700,000 3,700,000
 --------------
 WISCONSIN -- 7.0%
 State of Wisconsin G.O. Ser. 2005A TECP, 0.25%, 05/12/10 P-1, A-1+ 9,101,000 9,101,000
 Wisconsin Trans. Rev. Ser. 06-A TECP, 0.25%, 05/24/10 P-1, A-1+ 11,055,000 11,055,000
 --------------
 20,156,000
 --------------
 TOTAL MUNICIPAL BONDS (COST $284,766,656) 284,766,656
 --------------

 SHARES
 ------
MONEY MARKET MUTUAL FUNDS -- 1.1%
 BlackRock Liquidity Funds MuniCash Portfolio - Institutional Series 1,557,505 1,557,505
 BlackRock Liquidity Funds MuniFund Portfolio - Institutional Series 1,557,505 1,557,505
 --------------
 TOTAL MONEY MARKET MUTUAL FUNDS (COST $3,115,010) 3,115,010
 --------------
TOTAL INVESTMENTS -- 99.9% (Cost $287,881,666)+ $ 287,881,666
OTHER ASSETS IN EXCESS OF LIABILITIES -- 0.1% 209,098
 --------------
NET ASSETS -- 100.0% $ 288,090,764
 ==============

(1) Although certain securities are not rated (NR) by either Moody's or S&P, they have been determined to be of comparable quality
 to investment grade securities by the investment adviser. The ratings shown are unaudited.
* Denotes a Variable or Floating Rate Note. Variable or Floating Rate Notes are instruments whose rates change periodically. The
 rates shown are the interest rates as of March 31, 2010. The dates shown are the next dates the interest rates on the
 instruments are scheduled to be reset.
+ Cost for Federal income tax purposes.

G.O. - General Obligation
LOC - Letter of Credit
MBIA - Credit rating enhanced by guaranty or insurance from MBIA Inc.
PCRB - Pollution Control Revenue Bonds
TECP - Tax-Exempt Commercial Paper and multi-modal bonds in commercial paper mode
VRDB - Variable Rate Demand Bonds


 3


WILMINGTON FUNDS -- MONEY MARKET FUNDS
TAX-EXEMPT MONEY MARKET FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)

The following table provides a summary of inputs used to value the Fund's net assets as of March 31, 2010:

 LEVEL 2 - LEVEL 3 -
 TOTAL VALUE AT SIGNIFICANT SIGNIFICANT
 MARCH 31, LEVEL 1 - OBSERVABLE UNOBSERVABLE
 2010 QUOTED PRICES INPUTS INPUTS
 --------------------------------------------------------------------
INVESTMENTS IN SECURITIES:
Municipal Securities $ 284,766,656 $ -- $ 284,766,656 $ --
Money Market Mutual Funds 3,115,010 3,115,010 -- --
 --------------------------------------------------------------------
Total $ 287,881,666 $ 3,115,010 $ 284,766,656 $ --
 --------------------------------------------------------------------


WILMINGTON FUNDS -- FIXED INCOME FUNDS
SHORT/INTERMEDIATE-TERM BOND FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)
 (Showing Percentage of Net Assets)
------------------------------------------------------------------------------------------------------------------------------------

 MOODY'S/S&P PRINCIPAL
 RATINGS+ AMOUNT VALUE
 --------- ------ -----
CORPORATE BONDS -- 59.1%
 CONSUMER DISCRETIONARY -- 6.7%
 Anheuser-Busch InBev Worldwide, Inc. 144A, 2.50%,
 03/26/13@ Baa2, BBB+ $ 1,200,000 $ 1,202,315
 Anheuser-Busch InBev Worldwide, Inc. 144A, 7.75%,
 01/15/19@ Baa2, BBB+ 2,000,000 2,378,764
 Comcast Cable Communications Holdings, Inc., 8.38%,
 03/15/13 Baa1, BBB+ 1,765,000 2,045,889
 Comcast Corp., 5.70%, 07/01/19 Baa1, BBB+ 1,100,000 1,148,613
 Royal Caribbean Cruises Ltd., 7.00%, 06/15/13 Ba1, BB- 1,200,000 1,215,000
 Time Warner Entertainment Co., LP, 8.88%, 10/01/12 Baa2, BBB 1,185,000 1,363,696
 Time Warner Entertainment Co., LP, 8.38%, 03/15/23 Baa2, BBB 175,000 213,577
 Time Warner, Inc., 5.50%, 11/15/11 NR, BBB 1,250,000 1,326,585
 --------------
 10,894,439
 --------------
 CONSUMER STAPLES -- 0.5%
 Kraft Foods, Inc., 6.13%, 02/01/18 Baa2, BBB- 800,000 875,512
 --------------
 875,512
 --------------
 ENERGY -- 8.5%
 Anadarko Petroleum Corp., 8.70%, 03/15/19 Baa3, BBB- 1,250,000 1,546,475
 Chesapeake Energy Corp., 9.50%, 02/15/15 Ba3, BB 625,000 679,687
 ConocoPhillips, 9.38%, 02/15/11 A1, A 750,000 802,831
 Consol Energy, Inc. 144A, 8.00%, 04/01/17@ B1, BB 625,000 642,188
 Duke Energy Corp., 6.30%, 02/01/14 Baa2, BBB+ 500,000 556,997
 Kinder Morgan Energy Partners LP, 7.13%, 03/15/12 Baa2, BBB 2,250,000 2,463,507
 Sunoco, Inc., 9.63%, 04/15/15 Baa3, BBB- 1,200,000 1,443,590
 Transocean, Inc., 5.25%, 03/15/13 Baa2, BBB+ 750,000 809,705
 Valero Energy Corp., 4.75%, 04/01/14 Baa2, BBB 1,845,000 1,883,243
 Weatherford International Ltd., 5.15%, 03/15/13 Baa1, BBB 450,000 478,160
 XTO Energy, Inc., 5.90%, 08/01/12 Baa2, BBB 2,250,000 2,470,887
 --------------
 13,777,270
 --------------
 FINANCIALS -- 18.1%
 American Express Centurion Bank, 5.95%, 06/12/17 A2, BBB+ 770,000 819,058
 American Express Co., 4.88%, 07/15/13 A3, BBB+ 1,500,000 1,582,139
 American Honda Finance Corp. 144A, 4.63%, 04/02/13@ A1, A+ 1,500,000 1,588,008
 Bank of America Corp., 5.25%, 12/01/15 A2, A 1,000,000 1,015,142
 Bank of New York Mellon Corp.(The), 4.95%, 11/01/12 Aa2, AA- 900,000 975,776
 Bank One Corp., 8.00%, 04/29/27 Aa3, A+ 265,000 309,228
 Blackrock, Inc., 5.00%, 12/10/19 A1, A+ 1,400,000 1,401,436
 BP Capital Markets PLC, 5.25%, 11/07/13 Aa1, AA 300,000 330,128
 Caterpillar Financial Services Corp., 5.75%, 02/15/12 A2, A 1,750,000 1,889,695
 Devon Financing Corp., 6.88%, 09/30/11 Baa1, BBB+ 1,465,000 1,580,753
 Ford Motor Credit Co., LLC, 7.25%, 10/25/11 B1, B- 1,350,000 1,395,753
 General Electric Capital Corp., 2.80%, 01/08/13 Aa2, AA+ 1,500,000 1,518,116
 General Electric Capital Corp., 3.75%, 11/14/14(1) Aa2, AA+ 1,000,000 1,013,082
 Goldman Sachs Group, Inc. (The), 7.50%, 02/15/19 A1, A 1,500,000 1,714,198
 John Deere Capital Corp., 4.90%, 09/09/13 A2, A 900,000 972,584
 JPMorgan Chase & Co., 4.65%, 06/01/14 Aa3, A+ 1,250,000 1,320,824
 MetLife, Inc., 5.00%, 06/15/15 A2, A- 730,000 765,452
 Morgan Stanley, 4.75%, 04/01/14 A1, A- 1,750,000 1,786,885
 Prudential Financial, Inc., 3.88%, 01/14/15 Baa2, A 1,200,000 1,197,745
 Simon Property Group LP, 5.75%, 12/01/15 A3, A- 1,000,000 1,057,897
 SLM Corp., 4.50%, 07/26/10 Baa1, BBB- 900,000 904,143
 Textron Financial Corp., 5.13%, 02/03/11 Baa3, BB+ 1,550,000 1,578,842
 Wachovia Corp., 7.57%, 08/01/26++ A1, NR 175,000 190,313
 Wells Fargo & Co., 5.13%, 09/01/12 A1, AA- 348,000 369,553
 Wells Fargo Financial, Inc., 5.50%, 08/01/12 A1, AA- 615,000 660,441


 1


WILMINGTON FUNDS -- FIXED INCOME FUNDS
SHORT/INTERMEDIATE-TERM BOND FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) - CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 MOODY'S/S&P PRINCIPAL
 RATINGS+ AMOUNT VALUE
 --------- ------ -----
 Westpac Banking Corp., 4.88%, 11/19/19 Aa1, AA $ 1,500,000 $ 1,489,919
 --------------
 29,427,110
 --------------
 HEALTH CARE -- 2.2%
 Roche Holdings, Inc. 144A, 4.50%, 03/01/12@ A2, AA- 2,000,000 2,114,304
 Schering-Plough Corp., 5.30%, 12/01/13 Baa1, AA- 875,000 971,988
 United Health Group, Inc., 6.00%, 06/15/17 NR, A- 500,000 535,884
 --------------
 3,622,176
 --------------
 INDUSTRIALS -- 6.8%
 Allied Waste North America, Inc., 6.38%, 04/15/11(1) Baa3, BBB 500,000 521,747
 Allied Waste North America, Inc., 6.88%, 06/01/17 B1, BBB 600,000 654,000
 CSX Corp., 7.90%, 05/01/17 Baa3, BBB- 685,000 805,895
 GATX Corp., 8.75%, 05/15/14 Baa1, BBB+ 1,250,000 1,433,773
 General Electric Co., 5.00%, 02/01/13 Aa2, AA+ 875,000 943,226
 Ingersoll-Rand Co., 6.00%, 08/15/13 Baa1, BBB+ 1,000,000 1,098,799
 Ingersoll-Rand Co., 6.02%, 02/15/28 Baa1, BBB+ 2,015,000 2,154,234
 Textron, Inc., 6.20%, 03/15/15 Baa3, BBB- 1,500,000 1,588,748
 The Boeing Co., 5.00%, 03/15/14 A2, A 500,000 541,273
 Tyco Electronics Group SA, 6.00%, 10/01/12 WR, BBB- 1,150,000 1,238,238
 --------------
 10,979,933
 --------------
 INFORMATION TECHNOLOGY -- 1.8%
 Cisco Systems, Inc., 5.50%, 02/22/16 A1, A+ 800,000 891,452
 Electronic Data Systems LLC, 6.00%, 08/01/13 A2, A 1,750,000 1,957,576
 --------------
 2,849,028
 --------------
 MATERIALS -- 4.7%
 Alcoa, Inc., 6.00%, 07/15/13(1) Baa3, BBB- 1,251,000 1,334,404
 Alcoa, Inc., 5.72%, 02/23/19 Baa3, BBB- 1,100,000 1,069,378
 Dow Chemical Co. (The), 4.85%, 08/15/12 Baa3, BBB- 2,000,000 2,115,036
 Vulcan Materials Co., 1.51%, 12/15/10++ Baa2, BBB 2,500,000 2,497,783
 Weyerhaeuser Co., 6.75%, 03/15/12 Ba1, BBB- 625,000 666,550
 --------------
 7,683,151
 --------------
 TELECOMMUNICATION SERVICES -- 2.6%
 AT&T, Inc., 5.10%, 09/15/14 A2, A 875,000 946,700
 Verizon New Jersey, Inc., 5.88%, 01/17/12 Baa1, A 2,400,000 2,556,394
 Verizon Wireless Capital LLC, 5.25%, 02/01/12 A2, A 750,000 799,242
 --------------
 4,302,336
 --------------
 UTILITIES -- 7.2%
 CMS Energy Corp., 6.55%, 07/17/17 Ba1, BB+ 625,000 644,853
 Detroit Edison Co. (The), 5.60%, 06/15/18 A2, A- 950,000 1,005,321
 Exelon Generation Co. LLC, 6.20%, 10/01/17 A3, BBB 1,250,000 1,360,350
 Florida Power & Light Co., 5.55%, 11/01/17 Aa3, A 500,000 537,894
 Illinois Power Co., 9.75%, 11/15/18 Baa1, BBB 1,800,000 2,306,959
 Nevada Power Co., 8.25%, 06/01/11 Baa3, BBB 2,300,000 2,467,753
 Oklahoma Gas & Electric Co., 6.65%, 07/15/27 A2, BBB+ 440,000 452,877
 PECO Energy Corp., 4.75%, 10/01/12 A2, A- 2,000,000 2,131,534


 2


WILMINGTON FUNDS -- FIXED INCOME FUNDS
SHORT/INTERMEDIATE-TERM BOND FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) - CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 MOODY'S/S&P PRINCIPAL
 RATINGS+ AMOUNT VALUE
 --------- ------ -----
 Southern California Edison Corp., 5.00%, 01/15/16 A2, A $ 654,000 $ 708,058
 --------------
 11,615,599
 --------------
 TOTAL CORPORATE BONDS (COST $91,631,717) 96,026,554
 --------------
MUNICIPAL BONDS -- 0.5%
 CALIFORNIA -- 0.5%
 California State G.O. Unltd. Bonds, 7.50%, 04/01/34 NR, A- 750,000 773,887
 --------------
 773,887
 --------------

 PRINCIPAL
 AMOUNT VALUE
 ------ -----
MORTGAGE-BACKED SECURITIES -- 4.3%
 Federal Home Loan Mortgage Corporation Notes, 2751 VT, 6.00%, 02/15/34 7,633 7,773
 Federal Home Loan Mortgage Corporation Notes, 3159 PB, 6.00%, 01/15/29 1,100,000 1,122,854
 Federal Home Loan Mortgage Corporation Notes, Pool B19228, 4.50%, 04/01/20 282,824 296,482
 Federal Home Loan Mortgage Corporation Notes, Pool E00530, 6.00%, 01/01/13 19,984 21,100
 Federal Home Loan Mortgage Corporation Notes, Pool G01625, 5.00%, 11/01/33 376,357 391,206
 Federal Home Loan Mortgage Corporation Notes, Pool G02390, 6.00%, 09/01/36 250,633 269,591
 Federal Home Loan Mortgage Corporation Notes, Pool G08097, 6.50%, 11/01/35 161,336 176,262
 Federal Home Loan Mortgage Corporation Notes, Pool G08193, 6.00%, 04/01/37 503,685 541,312
 Federal Home Loan Mortgage Corporation Notes, Pool M80842, 3.50%, 08/01/10 800,186 806,431
 Federal National Mortgage Association Notes, 2005-29 WC, 4.75%, 04/25/35 308,041 324,445
 Federal National Mortgage Association Notes, 2005-97 LB, 5.00%, 11/25/35 735,001 772,908
 Federal National Mortgage Association Notes, Pool 254833, 4.50%, 08/01/18 127,936 134,694
 Federal National Mortgage Association Notes, Pool 256639, 5.00%, 02/01/27 530,959 552,316
 Federal National Mortgage Association Notes, Pool 256752, 6.00%, 06/01/27 289,581 309,050
 Federal National Mortgage Association Notes, Pool 257007, 6.00%, 12/01/27 588,792 628,375
 Federal National Mortgage Association Notes, Pool 612514, 3.97%, 05/01/33 140,263 144,657
 Federal National Mortgage Association Notes, Pool 629603, 5.50%, 02/01/17 119,297 128,483
 Federal National Mortgage Association Notes, Pool 688996, 8.00%, 11/01/24 46,760 53,911
 Federal National Mortgage Association Notes, Pool 745412, 5.50%, 12/01/35 270,186 285,050
 --------------
 TOTAL MORTGAGE-BACKED SECURITIES (COST $6,625,919) 6,966,900
 --------------
U.S. AGENCY OBLIGATIONS -- 15.0%
 FEDERAL HOME LOAN BANKS NOTES -- 2.5%
 Federal Home Loan Banks Notes, 4.50%, 09/16/13 1,200,000 1,297,621
 Federal Home Loan Banks Notes, 5.50%, 08/13/14 2,000,000 2,250,668
 Federal Home Loan Banks Notes, 4.88%, 05/17/17 500,000 540,555
 --------------
 4,088,844
 --------------
 FEDERAL HOME LOAN MORTGAGE CORPORATION NOTES -- 5.3%
 Federal Home Loan Mortgage Corporation Notes, 4.38%, 07/17/15 1,315,000 1,409,451
 Federal Home Loan Mortgage Corporation Notes, 5.25%, 04/18/16 6,500,000 7,189,312
 --------------
 8,598,763
 --------------
 FEDERAL NATIONAL MORTGAGE ASSOCIATION NOTES -- 7.2%
 Federal National Mortgage Association Notes, 5.00%, 10/15/11 1,250,000 1,328,198
 Federal National Mortgage Association Notes, 1.00%, 11/23/11 2,500,000 2,502,117
 Federal National Mortgage Association Notes, 1.80%, 03/15/13 2,000,000 1,990,920
 Federal National Mortgage Association Notes, 4.13%, 04/15/14 3,985,000 4,265,317
 Federal National Mortgage Association Notes, 5.00%, 05/11/17 1,500,000 1,630,061
 --------------
 11,716,613
 --------------
 TOTAL U.S. AGENCY OBLIGATIONS (COST $22,832,443) 24,404,220
 --------------
U.S. TREASURY NOTES -- 18.0%
 U.S. Treasury Notes, 1.50%, 07/15/12 1,500,000 1,511,718


 3


WILMINGTON FUNDS -- FIXED INCOME FUNDS
SHORT/INTERMEDIATE-TERM BOND FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) - CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 PRINCIPAL
 AMOUNT VALUE
 ------ -----
 U.S. Treasury Notes, 4.25%, 11/15/14 $ 1,300,000 $ 1,408,774
 U.S. Treasury Notes, 4.13%, 05/15/15 2,420,000 2,602,635
 U.S. Treasury Notes, 4.25%, 08/15/15 2,000,000 2,159,376
 U.S. Treasury Notes, 4.50%, 02/15/16 2,000,000 2,178,594
 U.S. Treasury Notes, 2.63%, 04/30/16 6,000,000 5,873,904
 U.S. Treasury Notes, 4.75%, 08/15/17 9,000,000 9,844,452
 U.S. Treasury Notes, 4.25%, 11/15/17 3,000,000 3,173,436
 U.S. Treasury Notes, 2.75%, 02/15/19 500,000 464,101
 --------------
 TOTAL U.S. TREASURY NOTES (COST $29,087,814) 29,216,990
 --------------
 SHARES
 ------
SHORT-TERM INVESTMENTS -- 2.6%
 BlackRock Liquidity Funds TempCash Portfolio - Institutional Series 2,100,246 2,100,246
 BlackRock Liquidity Funds TempFund Portfolio - Institutional Series 2,100,245 2,100,245
 --------------
 TOTAL SHORT-TERM INVESTMENTS (COST $4,200,491) 4,200,491
 --------------
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR LOANED SECURITIES -- 1.6%
 Institutional Money Market Trust 2,535,000 2,535,000
 --------------
 TOTAL SHORT-TERM INVESTMENTS HELD AS COLLATERAL FOR LOANED SECURITIES (COST
 $2,535,000) 2,535,000
 --------------
TOTAL INVESTMENTS(2),(3) -- 101.1% (Cost $157,706,679) $ 164,124,042
LIABILITIES IN EXCESS OF OTHER ASSETS -- (1.1)% (1,851,420)
 --------------
NET ASSETS -- 100.0% $ 162,272,622
 ==============

+ Although certain securities are not rated (NR) by either Moody's or S&P, they have been determined to be of comparable quality
 to investment grade securities by the investment adviser. The ratings shown are unaudited.
++ Denotes a Variable or Floating or Step Rate Note. Variable or Floating or Step Rate Notes are instruments whose rates change
 periodically. The rates shown are the interest rates as of March 31, 2010.
@ Security sold within the terms of a private placement memorandum, restricted and/or exempt from registration under Rule 144A of
 the Securities Act of 1933, as amended, and may be sold only to dealers in the program or other "accredited investors". Unless
 otherwise indicated security is considered liquid.
(1) Security partially or fully on loan.
(2) At March 31, 2010, the market value of securities on loan for the Short/Intermediate Bond Fund was $2,477,775
(3) The cost for Federal income tax purposes is $157,706,679 At March 31, 2010, net unrealized appreciation was $6,417,363. This
 consisted of aggregate gross unrealized appreciation for all securities for which there was an excess of market value over tax
 cost of $6,785,862 and aggregate gross unrealized depreciation for all securities for which there was an excess of tax cost
 over market value of $368,499.
G.O. - General Obligation
PLC - Public Limited Company


 4


WILMINGTON FUNDS -- FIXED INCOME FUNDS
SHORT/INTERMEDIATE-TERM BOND FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)

The following table provides a summary of inputs used to value the Fund's net assets as of March 31, 2010:

 LEVEL 2 - LEVEL 3 -
 TOTAL VALUE AT SIGNIFICANT SIGNIFICANT
 MARCH 31, LEVEL 1 - OBSERVABLE UNOBSERVABLE
 2010 QUOTED PRICES INPUTS INPUTS
 --------------------------------------------------------------------
INVESTMENTS IN SECURITIES:
Corporate Debt $ 96,026,554 $ -- $ 96,026,554 $ --
Mortgage-Backed Securities 6,966,900 -- 6,966,900 --
U.S. Treasury & Agency Obligations 53,621,210 -- 53,621,210 --
Municipal Securities 773,887 -- 773,887 --
Short-Term Investments 6,735,491 6,735,491 -- --
 --------------------------------------------------------------------
Total $ 164,124,042 $ 6,735,491 $ 157,388,551 $ --
 --------------------------------------------------------------------


WILMINGTON FUNDS -- FIXED INCOME FUNDS
BROAD MARKET BOND FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)
 (Showing Percentage of Net Assets)
------------------------------------------------------------------------------------------------------------------------------------

 MOODY'S/S&P PRINCIPAL
 RATINGS AMOUNT VALUE
 ------- ------ -----
CORPORATE BONDS -- 67.8%
 CONSUMER DISCRETIONARY -- 8.7%
 Anheuser-Busch InBev Worldwide, Inc. 144A, 2.50%,
 03/26/13@ Baa, BBB+ $ 650,000 $ 651,254
 Anheuser-Busch InBev Worldwide, Inc. 144A, 7.75%,
 01/15/19@ NR, BBB+ 650,000 773,098
 Anheuser-Busch InBev Worldwide, Inc. 144A, 8.20%,
 01/15/39@ Baa2, BBB+ 500,000 644,807
 Comcast Cable Communications Holdings, Inc., 8.38%,
 03/15/13 Baa1, BBB+ 896,000 1,038,593
 Comcast Corp., 5.70%, 07/01/19 Baa1, BBB+ 400,000 417,678
 Royal Caribbean Cruises Ltd., 7.00%, 06/15/13 Ba1, BB- 300,000 303,750
 Time Warner Entertainment Co., LP, 8.88%, 10/01/12 Baa2, BBB 300,000 345,239
 Time Warner Entertainment Co., LP, 8.38%, 03/15/23 Baa2, BBB 900,000 1,098,398
 Time Warner, Inc., 5.50%, 11/15/11 Baa2, BBB 600,000 636,761
 --------------
 5,909,578
 --------------
 CONSUMER STAPLES -- 1.9%
 General Mills, Inc., 5.65%, 02/15/19 Baa1, BBB+ 500,000 536,308
 Kraft Foods, Inc., 5.25%, 10/01/13 Baa2, BBB- 400,000 432,794
 Kraft Foods, Inc., 6.13%, 02/01/18 Baa2, BBB- 300,000 328,317
 --------------
 1,297,419
 --------------
 ENERGY -- 10.7%
 Anadarko Petroleum Corp., 8.70%, 03/15/19 Baa3, BBB- 400,000 494,872
 Chesapeake Energy Corp., 9.50%, 02/15/15 Ba3, BB 400,000 435,000
 Consol Energy, Inc. 144A, 8.00%, 04/01/17@ B1, BB 625,000 642,188
 Duke Energy Corp., 6.30%, 02/01/14 Baa2, BBB+ 258,000 287,410
 Kinder Morgan Energy Partners LP, 7.13%, 03/15/12 Baa2, BBB 500,000 547,446
 Marathon Oil Corp., 6.80%, 03/15/32 Baa1, BBB+ 1,700,000 1,808,630
 Sunoco, Inc., 9.63%, 04/15/15 Baa3, BBB- 550,000 661,646
 Transocean, Inc., 5.25%, 03/15/13 Baa2, BBB+ 250,000 269,902
 Valero Energy Corp., 4.75%, 04/01/14 Baa2, BBB 785,000 801,271
 Weatherford International Ltd., 5.15%, 03/15/13 Baa1, BBB 200,000 212,515
 XTO Energy, Inc., 5.90%, 08/01/12 Baa2, BBB 1,000,000 1,098,172
 --------------
 7,259,052
 --------------
 FINANCIALS -- 21.6%
 American Express Centurion Bank, 5.95%, 06/12/17 A2, BBB+ 400,000 425,485
 American Express Co., 4.88%, 07/15/13 A3, BBB+ 650,000 685,593
 American Honda Finance Corp. 144A, 4.63%, 04/02/13@ A1, A+ 750,000 794,004
 Bank of America Corp., 5.25%, 12/01/15 A2, A 500,000 507,571
 Bank of New York Mellon Corp.(The), 4.95%, 11/01/12 Aa2, AA- 600,000 650,518
 Bank One Corp., 8.00%, 04/29/27 Aa3, A+ 425,000 495,932
 Blackrock, Inc., 5.00%, 12/10/19 A1, A+ 750,000 750,769
 Caterpillar Financial Services Corp., 5.75%, 02/15/12 A2, A 1,000,000 1,079,826
 Devon Financing Corp., 6.88%, 09/30/11 Baa1, BBB+ 750,000 809,259
 Ford Motor Credit Co., LLC, 7.25%, 10/25/11 B1, B- 400,000 413,556
 General Electric Capital Corp., 2.80%, 01/08/13 Aa2, AA+ 300,000 303,623
 General Electric Capital Corp., 3.75%, 11/14/14 Aa2, AA+ 400,000 405,233
 Goldman Sachs Group, Inc. (The), 7.50%, 02/15/19 A1, A 750,000 857,099
 John Deere Capital Corp., 4.90%, 09/09/13 A2, A 425,000 459,276
 JPMorgan Chase & Co., 4.65%, 06/01/14 Aa3, A+ 500,000 528,330
 MetLife, Inc., 5.00%, 06/15/15 A2, A- 400,000 419,426
 Morgan Stanley, 4.75%, 04/01/14 A1, A- 1,000,000 1,021,077
 Prudential Financial, Inc., 3.88%, 01/14/15 Baa2, A 500,000 499,061
 Simon Property Group LP, 5.75%, 12/01/15 A3, A- 500,000 528,948
 SLM Corp., 4.50%, 07/26/10 Baa1, BBB- 300,000 301,381
 Textron Financial Corp., 5.13%, 02/03/11 Baa3, BB+ 625,000 636,630


 1


WILMINGTON FUNDS -- FIXED INCOME FUNDS
BROAD MARKET BOND FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) - CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 MOODY'S/S&P PRINCIPAL
 RATINGS AMOUNT VALUE
 ------- ------ -----
 Wachovia Corp., 7.57%, 08/01/26++ A1, NR $ 591,000 $ 642,715
 Wells Fargo & Co., 5.13%, 09/01/12 A1, AA- 700,000 743,354
 Wells Fargo Financial, Inc., 5.50%, 08/01/12 Aa2, AA- 400,000 429,555
 Westpac Banking Corp., 4.88%, 11/19/19 Aa1, AA 250,000 248,320
 --------------
 14,636,541
 --------------
 HEALTH CARE -- 1.2%
 Pfizer, Inc., 5.35%, 03/15/15 A1, AA 250,000 275,463
 Roche Holdings, Inc. 144A, 4.50%, 03/01/12@ A2, AA- 250,000 264,288
 United Health Group, Inc., 6.00%, 06/15/17 Baa1, A- 250,000 267,942
 --------------
 807,693
 --------------
 INDUSTRIALS -- 10.0%
 Allied Waste North America, Inc., 6.38%, 04/15/11 Baa3, BBB 500,000 521,747
 Allied Waste North America, Inc., 6.88%, 06/01/17 B1, BBB 300,000 327,000
 CSX Corp., 7.90%, 05/01/17 Baa3, BBB- 1,414,000 1,663,555
 GATX Corp., 8.75%, 05/15/14 Baa1, BBB+ 500,000 573,509
 General Electric Co., 5.00%, 02/01/13 Aa2, AA+ 700,000 754,581
 Honeywell International, Inc., 5.00%, 02/15/19 A2, A 250,000 260,334
 Ingersoll-Rand Co., 6.00%, 08/15/13 Baa1, BBB+ 700,000 769,159
 Ingersoll-Rand Co., 6.02%, 02/15/28 A3, BBB+ 900,000 962,189
 Textron, Inc., 6.20%, 03/15/15 Baa3, BBB- 500,000 529,583
 Tyco Electronics Group SA, 6.00%, 10/01/12 WR, BBB- 400,000 430,692
 --------------
 6,792,349
 --------------
 INFORMATION TECHNOLOGY -- 1.6%
 Electronic Data Systems LLC, 6.00%, 08/01/13 A2, A 300,000 335,585
 Electronic Data Systems LLC, 7.45%, 10/15/29 A2, A 600,000 719,525
 --------------
 1,055,110
 --------------
 MATERIALS -- 3.3%
 Alcoa, Inc., 5.72%, 02/23/19 Baa3, BBB- 550,000 534,689
 Dow Chemical Co. (The), 4.85%, 08/15/12 Baa3, BBB- 750,000 793,138
 Vulcan Materials Co., 1.51%, 12/15/10++ Baa2, BBB 500,000 499,557
 Weyerhaeuser Co., 6.75%, 03/15/12 Ba1, BBB- 400,000 426,592
 --------------
 2,253,976
 --------------
 TELECOMMUNICATION SERVICES -- 2.0%
 AT&T, Inc., 5.10%, 09/15/14 A2, A 750,000 811,457
 Verizon Global Funding Corp., 7.25%, 12/01/10 A3, A 540,000 563,442
 --------------
 1,374,899
 --------------
 UTILITIES -- 6.8%
 CMS Energy Corp., 6.55%, 07/17/17 Ba1, BB+ 300,000 309,529
 Exelon Generation Co. LLC, 6.20%, 10/01/17 A3, BBB 650,000 707,382
 Florida Power Corp., 6.35%, 09/15/37 A2, A- 425,000 458,918
 Illinois Power Co., 9.75%, 11/15/18 Baa1, BBB 600,000 768,987
 Nevada Power Co., 8.25%, 06/01/11 Baa3, BBB 1,000,000 1,072,936
 Oklahoma Gas & Electric Co., 6.65%, 07/15/27 A2, BBB+ 565,000 581,535
 PECO Energy Corp., 4.75%, 10/01/12 A2, A- 670,000 714,064
 --------------
 4,613,351
 --------------
 TOTAL CORPORATE BONDS (COST $43,534,431) 45,999,968
 --------------
MUNICIPAL BONDS -- 1.2%
 CALIFORNIA -- 1.2%
 California State G.O. Unltd. Bonds, 7.50%, 04/01/34 A2, A- 800,000 825,480


 2


WILMINGTON FUNDS -- FIXED INCOME FUNDS
BROAD MARKET BOND FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) - CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 --------------
 TOTAL MUNICIPAL BONDS (COST $846,182) 825,480
 --------------

 PRINCIPAL
 AMOUNT VALUE
 ------ -----
MORTGAGE-BACKED SECURITIES -- 5.2%
 Federal Home Loan Mortgage Corporation Notes, 3159 PB, 6.00%, 01/15/29 $ 700,000 $ 714,543
 Federal Home Loan Mortgage Corporation Notes, Pool E00530, 6.00%, 01/01/13 12,074 12,748
 Federal Home Loan Mortgage Corporation Notes, Pool G01625, 5.00%, 11/01/33 376,357 391,206
 Federal Home Loan Mortgage Corporation Notes, Pool G02390, 6.00%, 09/01/36 143,219 154,052
 Federal Home Loan Mortgage Corporation Notes, Pool G08097, 6.50%, 11/01/35 99,698 108,921
 Federal Home Loan Mortgage Corporation Notes, Pool M80842, 3.50%, 08/01/10 69,919 70,465
 Federal Home Loan Mortgage Corporation Notes, Pool M80865, 7 Yr. Balloon, 4.50%,
 11/01/10 169,895 172,116
 Federal National Mortgage Association Notes, 2005-29 WC, 4.75%, 04/25/35 142,173 149,744
 Federal National Mortgage Association Notes, Pool 254833, 4.50%, 08/01/18 95,952 101,020
 Federal National Mortgage Association Notes, Pool 256515, 6.50%, 12/01/36 253,227 275,190
 Federal National Mortgage Association Notes, Pool 256639, 5.00%, 02/01/27 265,480 276,158
 Federal National Mortgage Association Notes, Pool 256752, 6.00%, 06/01/27 231,665 247,240
 Federal National Mortgage Association Notes, Pool 629603, 5.50%, 02/01/17 71,578 77,090
 Federal National Mortgage Association Notes, Pool 745412, 5.50%, 12/01/35 268,041 282,788
 Federal National Mortgage Association Notes, Pool 838891, 6.00%, 07/01/35 451,181 482,841
 --------------
 TOTAL MORTGAGE-BACKED SECURITIES (COST $3,346,380) 3,516,122
 --------------
U.S. AGENCY OBLIGATIONS -- 13.6%
 FEDERAL HOME LOAN BANKS NOTES -- 5.5%
 Federal Home Loan Banks Notes, 5.75%, 05/15/12 800,000 875,289
 Federal Home Loan Banks Notes, 4.50%, 11/15/12 1,000,000 1,074,711
 Federal Home Loan Banks Notes, 4.50%, 09/16/13 300,000 324,405
 Federal Home Loan Banks Notes, 5.25%, 06/18/14 800,000 889,535
 Federal Home Loan Banks Notes, 5.50%, 08/13/14 500,000 562,667
 --------------
 3,726,607
 --------------
 FEDERAL HOME LOAN MORTGAGE CORPORATION NOTES -- 0.8%
 Federal Home Loan Mortgage Corporation Notes, 4.38%, 07/17/15 500,000 535,913
 --------------
 535,913
 --------------
 FEDERAL NATIONAL MORTGAGE ASSOCIATION NOTES -- 7.3%
 Federal National Mortgage Association Notes, 5.00%, 10/15/11 500,000 531,279
 Federal National Mortgage Association Notes, 1.80%, 03/15/13 1,000,000 995,460
 Federal National Mortgage Association Notes, 4.88%, 12/15/16 800,000 863,137
 Federal National Mortgage Association Notes, 5.00%, 05/11/17 1,000,000 1,086,707
 Federal National Mortgage Association Notes, 6.25%, 05/15/29 900,000 1,016,841
 Federal National Mortgage Association Notes, 7.25%, 05/15/30 400,000 508,492
 --------------
 5,001,916
 --------------
 TOTAL U.S. AGENCY OBLIGATIONS (COST $8,900,717) 9,264,436
 --------------
U.S. TREASURY OBLIGATIONS -- 10.1%
 U.S. TREASURY BONDS -- 5.9%
 U.S. Treasury Bonds, 7.50%, 11/15/16 300,000 378,867
 U.S. Treasury Bonds, 8.88%, 02/15/19 1,130,000 1,577,321
 U.S. Treasury Bonds, 6.00%, 02/15/26 300,000 353,813
 U.S. Treasury Bonds, 6.38%, 08/15/27 450,000 552,867
 U.S. Treasury Bonds, 6.25%, 05/15/30 500,000 612,031
 U.S. Treasury Bonds, 5.38%, 02/15/31 500,000 553,125
 --------------
 4,028,024
 --------------
 U.S. TREASURY NOTES -- 4.2%
 U.S. Treasury Notes, 3.13%, 04/30/13 400,000 418,125
 U.S. Treasury Notes, 4.25%, 11/15/13 800,000 866,562
 U.S. Treasury Notes, 4.50%, 02/15/16 500,000 544,649


 3


WILMINGTON FUNDS -- FIXED INCOME FUNDS
BROAD MARKET BOND FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) - CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 PRINCIPAL
 AMOUNT VALUE
 ------ -----
 U.S. Treasury Notes, 2.63%, 04/30/16 $ 1,000,000 $ 978,984
 --------------
 2,808,320
 --------------
 TOTAL U.S. TREASURY OBLIGATIONS (COST $6,214,293) 6,836,344
 --------------

 SHARES
 ------

PREFERRED STOCK -- 0.4%
 FINANCIALS -- 0.4%
 Wachovia Capital Trust IX, 6.375% 12,000 274,320
 --------------
 TOTAL PREFERRED STOCK (COST $300,000) 274,320
 --------------
TOTAL INVESTMENTS -- 98.3% (Cost $63,142,003)(1) $ 66,716,670
OTHER ASSETS IN EXCESS OF LIABILITIES -- 1.7% 1,157,880
 --------------
NET ASSETS -- 100.0% $ 67,874,550
 ==============

+ Although certain securities are not rated (NR) by either Moody's or S&P, they have been determined to be of comparable quality
 to investment grade securities by the investment adviser. The ratings shown are unaudited.
++ Denotes a Variable or Floating Rate Note. Variable or Floating Rate Notes are instruments whose rates change periodically. The
 rates shown are the interest rates as of March 31, 2010.
@ Security sold within the terms of a private placement memorandum, restricted and/or exempt from registration under Rule 144A of
 the Securities Act of 1933, as amended, and may be sold only to dealers in the program or other "accredited investors". Unless
 otherwise indicated security is considered liquid.
(1) The cost for Federal income tax purposes is $63,142,003. At March 31, 2010, net unrealized appreciation was $3,574,667. This
 consisted of aggregate gross unrealized appreciation for all securities for which there was an excess of market value over tax
 cost of $3,778,040, and aggregate gross unrealized depreciation for all securities for which there was an excess of tax cost
 over market value of $203,373.
G.O -General Obligation


 4


WILMINGTON FUNDS -- FIXED INCOME FUNDS
BROAD MARKET BOND FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)

The following table provides a summary of inputs used to value the Fund's net assets as of March 31, 2010:

 LEVEL 2 - LEVEL 3 -
 TOTAL VALUE AT SIGNIFICANT SIGNIFICANT
 MARCH 31, LEVEL 1 - OBSERVABLE UNOBSERVABLE
 2010 QUOTED PRICES INPUTS INPUTS
 --------------------------------------------------------------------
INVESTMENTS IN SECURITIES:
Corporate Debt $ 45,999,968 $ -- $ 45,999,968 $ --
Mortgage-Backed Securities 3,516,122 -- 3,516,122 --
U.S. Treasury & Agency Obligations 16,100,780 -- 16,100,780 --
Municipal Securities 825,480 -- 825,480 --
Preferred Stock 274,320 274,320 $ -- $ --
 --------------------------------------------------------------------
Total $ 66,716,670 $ 274,320 $ 66,442,350 $ --
 --------------------------------------------------------------------


WILMINGTON FUNDS -- FIXED INCOME FUNDS
MUNICIPAL BOND FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)
 (Showing Percentage of Net Assets)
------------------------------------------------------------------------------------------------------------------------------------

 MOODY'S/S&P PRINCIPAL
 RATINGS+ AMOUNT VALUE
 -------- ------ -----
MUNICIPAL BONDS -- 96.1%
 ALABAMA -- 9.3%
 Alabama 21st Century Auth., 5.75%, 12/01/19 Baa1, A- $ 750,000 $ 764,595
 Alabama 21st Century Auth. Tobacco Settlement Rev.
 Bonds, 5.75%, 12/01/17 Baa1, A- 465,000 477,025
 Alabama Housing Fin. Auth. Single Family Mtge. Rev.
 Bonds, Ser. A-1, (GNMA/FNMA), 5.00%, 10/01/14 Aaa, NR 85,000 85,030
 Alabama State Brd. of Educ. Calhoun Community College
 Rev. Bonds, (AMBAC), 5.00%, 05/01/15 A2, NR 500,000 541,060
 Alabama Water Poll. Cntrl. Auth. Rev. Bonds, Ser. B,
 (AMBAC), 4.50%, 08/15/10 NR, NR 250,000 251,877
 Birmingham, AL Airport Auth. Rev. Bond Ref.- AMT,
 (AMBAC), 5.00%, 07/01/12(2) A2, NR 2,370,000 2,446,741
 East Alabama Health Care Auth. Ser. A, 5.25%, 09/01/36++ NR, A 200,000 201,340
 Jefferson Cnty., AL, 5.25%, 02/01/12 Aa3, AAA 200,000 197,298
 Jefferson Cnty., AL, 5.25%, 02/01/16 Aa3, AAA 25,000 24,053
 Jefferson Cnty., AL, 5.50%, 02/15/16 Aa3, AAA 200,000 190,506
 Jefferson Cnty., AL, 5.50%, 01/01/21 Aa3, AAA 2,300,000 2,282,865
 Jefferson Cnty., AL, 5.00%, 04/01/21 Baa1, A 3,455,000 2,452,324
 Jefferson Cnty., AL Sewer Rev. Bonds, (FSA), 5.25%,
 02/01/11 Aa3, AAA 250,000 247,740
 Mobile, AL Industrial Development Board VRDB Ser. A,
 4.75%, 06/01/34++ A2, A 500,000 527,085
 Trussville, AL G.O. Ltd. Bonds, (NATL-RE), 4.60%,
 10/01/13 A1, NR 165,000 169,024
 Univ. of Alabama at Birmingham Hospital Rev. Bonds, Ser.
 A, 5.00%, 09/01/15 A1, A+ 500,000 540,705
 Univ. of Alabama at Birmingham Hospital Rev. Bonds, Ser.
 A, 5.75%, 09/01/22++ A1, A+ 1,000,000 1,081,520
 --------------
 12,480,788
 --------------
 ARIZONA -- 1.1%
 Greenlee Cnty., AZ School Dist. G.O. Unltd. Bonds,
 5.00%, 07/01/10 Baa3, NR 150,000 149,878
 Greenlee Cnty., AZ School Dist. G.O. Unltd. Bonds,
 5.00%, 07/01/13 Baa3, NR 200,000 216,286
 Tucson, AZ Certificate Participation Bonds, Public
 Improvements, Ser. A, (NATL-RE), 5.00%, 07/01/21 A1, A+ 1,000,000 1,043,430
 --------------
 1,409,594
 --------------
 CALIFORNIA -- 21.2%
 ABAG Fin. Auth. for Nonprofit Coros, California Rev.
 Bonds (Windemere Ranch Financing Prog.), Ser. A,
 (CIFG), 5.00%, 09/02/20 NR, BBB 1,340,000 1,282,259
 ABAG Fin. Auth. for Nonprofit Coros, California Rev.
 Bonds (Windemere Ranch Financing Prog.), Ser. A,
 (CIFG), 5.00%, 09/02/21 NR, BBB 3,660,000 3,485,418
 California Health Facilities Fin. Auth. Rev. Bonds,
 5.13%, 07/01/22 A2, A 1,000,000 1,037,770
 California Health Facilities Fin. Auth. Ser. H, 4.45%,
 07/01/26++ A2, A 510,000 526,310
 California Infrastructure & Economic Dev. Rev. Bonds,
 5.00%, 10/01/18 Aa2, AA+ 365,000 393,200
 California State Public Works Brd., 5.25%, 12/01/13 Baa2, BBB+ 2,000,000 2,134,400
 California State Public Works Brd., 5.00%, 12/01/19 Baa2, NR 2,000,000 1,983,400
 California State Public Works Brd. Lease. Rev. Bonds
 (Dept. Health Services - Richmond Lab), Ser. B,
 (XLCA), 5.00%, 11/01/23 Baa2, BBB+ 960,000 922,637
 California State Public Works Brd. Ref. Rev. Bonds,
 Ser. D, (NATL-RE), 5.25%, 10/01/11 Baa1, A 150,000 157,441


 1


WILMINGTON FUNDS -- FIXED INCOME FUNDS
MUNICIPAL BOND FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) - CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 MOODY'S/S&P PRINCIPAL
 RATINGS+ AMOUNT VALUE
 -------- ------ -----
 California State School Imps. Ref. G.O. Bonds, 5.25%,
 02/01/14 Baa1, A- $ 585,000 $ 640,616
 California Statewide Communities Development Auth.,
 5.00%, 06/15/13 Baa1, A- 4,000,000 4,297,160
 Lancaster, CA Redev. Agency Tax Allocation Ref. Bonds,
 (XCLA), 5.25%, 12/01/20 NR, A 400,000 405,072
 Palm Desert, CA Fin. Auth., (NATL-RE) Ser.1A, 5.00%,
 04/01/25 A3, A 500,000 467,290
 Redwood City, CA Elementary School Dist. G.O. Bonds,
 (FGIC), 5.50%, 08/01/14 NR, A+ 125,000 138,368
 Sacramento City Financing Auth. Ser. B, 5.40%, 11/01/20 A2, A 4,000,000 4,191,400
 San Francisco, CA City & Cnty., International Airport
 Rev. Bonds, (AMBAC) Ser. A, 5.25%, 01/01/19(2) A3, BBB+ 1,540,000 1,491,659
 San Jose, CA Redevelopment Agency Tax Allocation
 (Merged Area Redev. Proj.) Ser. C (NATL-RE)San Jose,
 CA Redevelopment Agency Ser. C (NATL-RE), 5.00%,
 08/01/24 A3, A 1,655,000 1,616,852
 State Of California, 5.00%, 12/01/22 Baa1, A- 2,000,000 2,029,260
 Tulare Cnty., CA Ctfs. Participation Ref. Bonds,
 (NATL-RE), 5.00%, 08/15/10 A3, NR 50,000 50,782
 Univ. of CA Rev. Bonds, Ser. H, (NATL-RE), 5.00%,
 05/15/18 AA1, AA 490,000 535,727
 Visalia, CA Cert. Participation Ref. Bonds, (NATL-RE),
 5.00%, 12/01/18 Baa1, A+ 500,000 530,065
 --------------
 28,317,086
 --------------
 COLORADO -- 3.3%
 Denver, CO Convention Center Hotel Auth. Ref. Bonds,
 (XLCA), 5.25%, 12/01/21 Baa3, BBB- 1,000,000 986,230
 Denver, CO Convention Center Hotel Auth. Ref. Bonds,
 (XLCA), 5.13%, 12/01/24 Baa3, BBB- 3,065,000 2,905,865
 Denver, CO X Ref. Bonds, (XLCA), 5.00%, 11/15/23 A1, A+ 500,000 517,005
 --------------
 4,409,100
 --------------
 CONNECTICUT -- 0.8%
 Bristol, CT Resource Recovery Rev. Bonds (Solid Waste
 Oper. Committee), (AMBAC), 5.00%, 07/01/14 A1, A+ 1,000,000 1,084,030
 --------------
 1,084,030
 --------------
 DELAWARE -- 1.5%
 Delaware State Economic Dev. Auth. Ref. Rev. Bonds,
 (Delmarva Power Poll. Cntrl. Proj.), Ser. 2001C,
 (AMBAC), 4.90%, 05/01/26++ Baa2, BBB 250,000 250,870
 Delaware State Economic Dev. Auth. Rev. Bonds, (Student
 Housing Univ. Courtyard), (RADIAN), 5.38%, 08/01/11 NR, NR 170,000 173,512
 Delaware State Health Facilities Auth., 5.25%, 06/01/10 Baa1, BBB+ 250,000 251,185
 Delaware State Health Facilities Auth. Ser. A, 5.50%,
 06/01/24 Baa1, BBB+ 1,250,000 1,265,188
 --------------
 1,940,755
 --------------
 FLORIDA -- 2.6%
 Florida State Division of Bond Finance (Dept.
 Enviromental Preservation) Ser. 2000-A (AMBAC),
 5.00%, 07/01/12 A1, AA- 1,750,000 1,752,765
 Florida State Turnpike Auth. Ser. B, (AMBAC), 5.00%,
 07/01/10 Aa3, AA- 100,000 101,089
 Lakeland, FL Energy Sys. Rev. Bonds, (NATL-RE), 5.50%,
 10/01/14 A1, A+ 455,000 478,956


 2


WILMINGTON FUNDS -- FIXED INCOME FUNDS
MUNICIPAL BOND FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) - CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 MOODY'S/S&P PRINCIPAL
 RATINGS+ AMOUNT VALUE
 -------- ------ -----
 Osceola Cnty., FL School Brd. Cert. Participation Four
 Corners Charter School Bonds, Ser. A, (NATL-RE),
 5.80%, 08/01/15 Baa1, NR $ 100,000 $ 102,667
 Reedy Creek, FL Impt. Dist. Utilities Rev. Bonds, Ser.
 1, (NATL-RE), 5.25%, 10/01/14 A3, A 900,000 974,925
 --------------
 3,410,402
 --------------
 GEORGIA -- 1.4%
 Atlanta, GA Auth. Rev. Bonds, Ser. A, (FGIC), 5.88%,
 01/01/16 A1, A+ 1,370,000 1,388,632
 Clayton Cnty., GA Dev. Auth. Rev. Bonds, Ser. A,
 (NATL-RE), 5.00%, 08/01/18 Aa3, AA 465,000 498,331
 --------------
 1,886,963
 --------------
 ILLINOIS -- 5.5%
 Chicago IL, Board of Educ., 5.00%, 12/01/21 Aa3, AAA 3,000,000 3,187,800
 Chicago IL, Board of Educ. Ref. - Ded. Revs Bonds, Ser.
 B, (AMBAC), 5.00%, 12/01/21 A1, AA- 1,000,000 1,048,030
 Chicago, IL Water Rev. Sr. Lien Bonds, (AMBAC), 5.75%,
 11/01/11 Aa3, AA 200,000 207,320
 Illinois Finance Auth. Rev. Bonds Ser. B, (FSA), 5.25%,
 01/01/22 Aa3, NR 2,830,000 2,948,351
 --------------
 7,391,501
 --------------
 INDIANA -- 3.8%
 Blackford Cnty., IN Industrial Sch. Bldg. Corp. Rev.
 Ref. Bond, First Mortgage, Ser. A, (NATL-RE), 5.00%,
 07/15/17 Baa1, AA+ 1,755,000 1,894,751
 Indiana Finance Auth. Health System Rev. Bonds, 5.00%,
 11/01/21 Aa3, NR 2,000,000 2,089,200
 Indiana Health Facility Fin. Auth. Ser. A, 5.00%,
 11/01/27++ Aa2, AA- 1,000,000 1,062,770
 --------------
 5,046,721
 --------------
 KANSAS -- 0.6%
 Butler & Sedgwick Cnty., KS Univ. School Dist. G.O.
 Unltd. Bonds, (FSA), 6.00%, 09/01/14 Aa3, AAA 500,000 580,670
 Topeka, KS G.O. Bonds (College Hill Pub. Imps.) Ser. A,
 (NATL-RE), 5.50%, 08/15/14 Aa3, NR 275,000 289,501
 --------------
 870,171
 --------------
 LOUISIANA -- 0.3%
 Louisiana State Citizens Prop. Ins. Corp. Rev. Bonds,
 Pub. Imps., (AMBAC), 5.00%, 06/01/15 Baa2, A- 435,000 458,781
 --------------
 458,781
 --------------
 MASSACHUSETTS -- 0.6%
 Massachusetts State Dev. Fin. Agency Rev. Bond (Univ. of
 MA, Visual & Perfoming Arts Proj.), 6.00%, 08/01/16 A2, NR 310,000 360,831
 Massachusetts State Housing Fin. Agency VRDB Rev. Bonds,
 4.00%, 12/01/10++,(2) Aa2, AA 85,000 85,597
 Massachusetts State Special Oblig. Rev. Bonds (Federal
 Highway Grant Auth.), Ser. A, (FSA), 5.00%, 12/15/12 Aa3, NR 275,000 300,369
 --------------
 746,797
 --------------
 MICHIGAN -- 2.1%
 Detroit, MI Water Utility Imps. Rev. Bonds, Ser. A,
 (FSA), 5.00%, 07/01/23 Aa3, AAA 550,000 562,969
 Fowlerville, MI Community Schools Dist. G.O. Bonds,
 (FGIC), 5.00%, 05/01/15 Aa3, AA- 650,000 710,911


 3


WILMINGTON FUNDS -- FIXED INCOME FUNDS
MUNICIPAL BOND FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) - CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 MOODY'S/S&P PRINCIPAL
 RATINGS+ AMOUNT VALUE
 -------- ------ -----
 Michigan State Hosp. Fin. Auth. Ref. Bonds, 5.00%,
 07/15/21 A2, A $ 1,600,000 $ 1,571,488
 --------------
 2,845,368
 --------------
 MINNESOTA -- 0.7%
 St. Paul, MN Housing & Redev. Auth. Health Care Fac.
 Rev. Bonds, 5.00%, 05/15/12 Baa1, BBB 85,000 87,706
 St. Paul, MN Housing & Redev. Auth. Health Care Fac.
 Rev. Bonds, 5.00%, 05/15/13 Baa1, BBB 225,000 233,708
 St. Paul, MN Housing & Redev. Auth. Health Care Fac.
 Rev. Bonds, 5.00%, 05/15/15 Baa1, BBB 270,000 280,203
 St. Paul, MN Housing & Redev. Auth. Health Care Fac.
 Rev. Bonds, 5.00%, 05/15/16 Baa1, BBB 300,000 309,213
 --------------
 910,830
 --------------
 MISSISSIPPI -- 0.2%
 Warren Cnty., MS Gulf Opportunity Zone Rev. Bonds Ser.
 A, 6.50%, 09/01/32 Baa3, BBB 250,000 260,985
 --------------
 260,985
 --------------
 MISSOURI -- 1.3%
 Kansas City, MO Special Fac. Rev. Bonds Overhaul Base
 Proj., 4.00%, 09/01/10(2) A3, AA- 540,000 546,534
 Kansas City, MO Special Fac. Rev. Bonds, MCI Overhaul
 Base Proj., 4.00%, 09/01/11(2) A3, AA- 465,000 477,336
 Truman State Univ., MO Housing Sys. Rev. Bonds, (AMBAC),
 5.00%, 06/01/15 A2, NR 615,000 653,241
 --------------
 1,677,111
 --------------
 NEVADA -- 1.5%
 Clark Cnty., NV, (AMBAC), 5.00%, 11/01/25 Aa1, AA+ 1,000,000 1,053,110
 Nevada State Highway Imp. Rev. Bonds (Motor Vehicle Fuel
 Tax), (FGIC), 5.50%, 12/01/11 Aa3, AA+ 250,000 267,365
 North Las Vegas, NV Ref. Bonds Ser. 60-B, 5.00%, 12/01/16 NR, NR 755,000 714,026
 --------------
 2,034,501
 --------------
 NEW HAMPSHIRE -- 0.8%
 New Hampshire Business Fin. Auth., (NATL-RE) Ser. C,
 5.45%, 05/01/21 A3, A 1,000,000 1,028,360
 --------------
 1,028,360
 --------------
 NEW JERSEY -- 4.3%
 Camden Cnty., Impt. Auth., 5.00%, 02/15/12 Baa3, BBB 500,000 515,635
 Camden Cnty., NJ Impt. Auth. Cooper Health Sys. Oblig.
 Group A, 5.00%, 02/15/15 Baa3, BBB 1,090,000 1,123,071
 Camden Cnty., NJ Impt. Auth. Cooper Health Sys. Oblig.
 Group B, 5.00%, 02/15/15 Baa3, BBB 2,435,000 2,508,878
 New Jersey Economic Development Auth. Rev. Bonds,
 (RADIAN), 5.50%, 06/15/16 Baa2, NR 200,000 207,950
 New Jersey Health Care Fac. Fin. Auth., Hackensack Univ.
 Medical Center, 5.13%, 01/01/21 Baa1, NR 600,000 610,878
 New Jersey State Educ. Fac. Auth. Ref. Bonds Ser. A,
 5.00%, 07/01/19 Baa2, BBB+ 775,000 825,235
 --------------
 5,791,647
 --------------
 NEW YORK -- 4.3%
 Cattaraugus Cnty., NY Industrial Dev. Agency (Olean Gen.
 Hosp. Proj.) Ser. A, 5.25%, 08/01/23 NR, A+ 525,000 525,215


 4


WILMINGTON FUNDS -- FIXED INCOME FUNDS
MUNICIPAL BOND FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) - CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 MOODY'S/S&P PRINCIPAL
 RATINGS+ AMOUNT VALUE
 -------- ------ -----
 New York City Ind. Dev. Agency Ref. Bonds, 5.00%,
 01/01/13(2) A3, BBB+ $ 700,000 $ 730,856
 New York City Ser. E-1, 6.00%, 10/15/23 Aa3, AA 750,000 870,968
 New York State Thruway Auth., NY Highway Improv. Rev.
 Bonds, (AMBAC) Ser. F, 5.00%, 01/01/25 A1, A+ 1,000,000 1,053,720
 New York Tobacco Sett. Fund. Corp. Rev. Bonds, Ser. A-1,
 5.50%, 06/01/14 A1, AA- 115,000 115,138
 New York, NY G.O. Bonds, Ser. E, 5.25%, 08/01/12 Aa3, AA 250,000 272,185
 New York, NY Pub. Imps. G.O. Bonds, Ser. D1, 5.00%,
 12/01/21 Aa3, AA 1,000,000 1,078,300
 Tobacco Settlement Fin. Auth. Ser. B-1C, 5.50%, 06/01/14 A1, AA- 75,000 75,090
 Tobacco Settlement Fin. Auth., Ser. C-1, (FGIC), 5.50%,
 06/01/20 A1, AA- 1,000,000 1,074,320
 --------------
 5,795,792
 --------------
 NORTH CAROLINA -- 2.2%
 Univ. of North Carolina Sys. Pool Rev., (NATL-RE),
 5.00%, 10/01/23 A1, A+ 2,725,000 2,892,097
 --------------
 2,892,097
 --------------
 OHIO -- 3.6%
 Dayton-Montgomery Cnty., OH Port. Auth. Dev. Rev. Dayton
 Regl. Bond Ser. A, 5.13%, 05/15/22(2) NR, NR 2,315,000 2,123,364
 Lorain Cnty., OH Hosp. Rev. Bonds, (Catholic Healthcare
 Partners), Ser. A, 5.63%, 10/01/16 A1, AA- 500,000 523,270
 Lorain Cnty., OH Hospital Ref. Rev. Bonds (Catholic
 Healthcare) Ser. A, 5.63%, 10/01/13 A1, AA- 800,000 847,704
 Ohio State Air Quality Dev. Auth. Rev. (Pollution
 Control Proj.) Ser. D, 4.75%, 08/01/29++ Baa1, BBB- 1,250,000 1,325,513
 --------------
 4,819,851
 --------------
 OREGON -- 0.2%
 Portland, OR Urban Renewal & Redev. Ref. Bonds, Ser. A,
 (FGIC), 5.00%, 06/15/17 A3, NR 320,000 335,309
 --------------
 335,309
 --------------
 PENNSYLVANIA -- 6.5%
 Cumberland Cnty., Municipal Auth. Ser. Q1- AI, 2.75%,
 11/01/39++ NR, A 400,000 401,972
 Pennsylvania State Economic Dev. Fin. Auth. Facs. Rev.
 (Exelon Generation), 5.00%, 12/01/42++ A3, BBB 600,000 634,470
 Pennsylvania State Higher Educ. Facs. Auth. Rev. Bonds
 (Philadelphia College of Osteopathic Medicine),
 5.00%, 12/01/16 NR, A+ 1,560,000 1,598,657
 Pennsylvania State Higher Educ. Facs. Auth. Rev. Bonds,
 (Philadelphia College of Osteopathic Medicine),
 5.00%, 12/01/17 NR, A+ 500,000 506,510
 Pennsylvania State Pub. School Bldg. Auth. Rev. Bonds,
 (FGIC), 5.25%, 11/01/15 NR, NR 545,000 594,306
 Philadelphia, PA Airport Rev. Bonds Ser. A, (NATL-RE),
 5.00%, 06/15/18(2) A2, A+ 600,000 607,614
 Philadelphia, PA Airport Rev. Bonds, (FGIC), Ser. B,
 5.50%, 06/15/18(2) A2, A+ 1,350,000 1,396,210
 Philadelphia, PA Auth. For Indl. Dev. Rev. Bonds Ser. A,
 4.90%, 05/01/17 NR, BBB- 285,000 266,982
 Philadelphia, PA G.O. Bonds, (CIFG), 5.00%, 08/01/23 Baa1, BBB 1,000,000 987,490
 Philadelphia, PA Redev. Auth. For Neighborhood
 Transformation. Rev. Bonds Ser. A, 5.50%, 04/15/20 Baa1, A 925,000 947,737
 Philadelphia, PA School District Ref. Bonds, Ser. A,
 (AMBAC), 5.00%, 08/01/17 Aa3, A+ 600,000 641,508


 5


WILMINGTON FUNDS -- FIXED INCOME FUNDS
MUNICIPAL BOND FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) - CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 MOODY'S/S&P PRINCIPAL
 RATINGS+ AMOUNT VALUE
 -------- ------ -----
 Pittsburgh, PA Stadium Auth. Lease Rev. Bonds, 6.50%,
 04/01/11 Aaa, AAA $ 55,000 $ 55,073
 --------------
 8,638,529
 --------------
 PUERTO RICO -- 0.4%
 Puerto Rico Pub. Impt. Ser. A, 5.50%, 07/01/21 Baa3, BBB- 250,000 257,802
 The Childrens' Trust Fund, Puerto Rico, Tobacco
 Settlement Rev. Bonds, 5.75%, 07/01/14 NR, AAA 250,000 253,175
 --------------
 510,977
 --------------
 SOUTH DAKOTA -- 0.8%
 South Dakota Health & Educational Facilities Auth.,
 5.00%, 11/01/12 A1, AA- 1,000,000 1,061,050
 --------------
 1,061,050
 --------------
 TEXAS -- 7.4%
 Cedar Park, TX Utility Sys. Rev. Bonds, (NATL-RE),
 5.00%, 08/15/18 A2, AA 400,000 420,408
 Corpus Christi, TX Utility Sys. Rev. Bonds, Ser. A,
 (AMBAC), 5.00%, 07/15/18 A2, A+ 500,000 539,310
 Dallas-Fort Worth International Airport Fac. Improv.
 Corp Jt Ser A, (FGIC), 6.00%, 11/01/28(2) A1, A+ 5,000,000 5,008,650
 Howard Cnty., TX Jr. College District, (AMBAC), 5.00%,
 02/15/26 NR, A 2,810,000 2,930,689
 Katy, TX Indpt. School Dist. G.O. Bonds, (PSF-GTD),
 5.50%, 02/15/15 Aaa, AAA 175,000 180,791
 Port Arthur, TX Independent School District G.O Bonds,
 (AMBAC), 5.00%, 02/15/22 A3, NR 170,000 177,437
 Tarrant Cnty., TX Cultural Educ. Fac. Finance Corp. Ser.
 A, 5.00%, 02/15/20 Aa3, AA- 100,000 104,537
 Tarrant Cnty., TX Cultural Educ. Fac. Finance Corp. Ser.
 A, 5.00%, 02/15/22 Aa3, AA- 345,000 359,611
 Univ. of Texas Ref. Rev. Bonds, Ser. A, 6.25%, 07/01/13 Aaa, AAA 60,000 64,253
 Univ. of Texas Ref. Rev. Bonds, Ser. A, 6.25%, 07/01/13 Aaa, AAA 85,000 96,297
 --------------
 9,881,983
 --------------
 UTAH -- 0.4%
 Salt Lake Cnty., UT Sales Tax Rev. Bonds, 5.00%, 08/01/17 NR, AAA 500,000 551,915
 --------------
 551,915
 --------------
 WASHINGTON -- 7.0%
 Klickitat Cnty., WA Public Utility District No. 1 Ser.
 B, (FGIC), 5.25%, 12/01/22 A3, NR 2,000,000 2,081,800
 Seattle, WA Muni. Light & Power Ref. Rev. Bonds, (FSA),
 5.00%, 07/01/10 Aa2, AAA 350,000 350,812
 Washington Health Care Fac. Auth. Group Health Coop.,
 (RADIAN), 5.00%, 12/01/25 NR, BBB+ 1,000,000 932,980
 Washington Health Care Fac. Auth., (RADIAN), 5.00%,
 12/01/23 NR, BBB+ 1,570,000 1,495,205
 Washington State Econ. Dev. Fin. Auth. Biomedical Resh
 Properties II, (NATL-RE), 5.25%, 06/01/21 Aa2, AA+ 1,000,000 1,070,460


 6


WILMINGTON FUNDS -- FIXED INCOME FUNDS
MUNICIPAL BOND FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) - CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 MOODY'S/S&P PRINCIPAL
 RATINGS+ AMOUNT VALUE
 -------- ------ -----
 Washington State Econ. Dev. Fin. Auth. Lease Rev.
 Washington Biomedical Resh Properties II, (NATL-RE),
 5.00%, 06/01/23 Aa2, AA+ $ 3,240,000 $ 3,413,211
 --------------
 9,344,468
 --------------
 WEST VIRGINIA -- 0.2%
 West Virginia State Bldg. Ref. Rev. Bonds, Ser. A,
 (AMBAC), 5.38%, 07/01/18 NR, NR 250,000 273,390
 --------------
 273,390
 --------------
 WISCONSIN -- 0.2%
 Sheboygan, WI Pollution Ctrl. Rev., (FGIC), 5.00%,
 09/01/15 A2, A- 200,000 216,282
 Wisconsin State Trans. Rev. Ref. Bonds, Ser.1, (AMBAC),
 5.75%, 07/01/14 Aa3, AA+ 105,000 113,999
 --------------
 330,281
 --------------
 TOTAL MUNICIPAL BONDS (COST $126,843,260) 128,437,133
 --------------

 SHARES
 ------
SHORT-TERM INVESTMENTS -- 4.2%
 BlackRock Liquidity Funds MuniCash Portfolio - Institutional Series 2,806,211 2,806,211
 BlackRock Liquidity Funds MuniFund Portfolio - Institutional Series 2,806,212 2,806,212
 --------------
 TOTAL SHORT-TERM INVESTMENTS (COST $5,612,423) 5,612,423
 --------------
TOTAL INVESTMENTS -- 100.3% (Cost $132,455,683)(1) $ 134,049,556
LIABILITIES IN EXCESS OF OTHER ASSETS -- (0.3)% (410,540)
 --------------
NET ASSETS -- 100.0% $ 133,639,016
 ==============

+ Although certain securities are not rated (NR) by either Moody's or S&P, they have been determined to be of comparable quality
 to investment grade securities by the investment adviser. The ratings shown are unaudited.
++ Denotes a Variable or Floating Rate Note. Variable or Floating Rate Notes are instruments whose rates change periodically. The
 rates shown are the interest rates as of March 31, 2010.
(1) The cost for federal income tax purposes is $132,455,683. At March 31, 2010, net unrealized appreciation was $1,593,873. This
 consisted of aggregate gross unrealized appreciation for all securities for which there was an excess of market value over tax
 cost of $2,979,749 and aggregate gross unrealized depreciation for all securities for which there was an excess of tax cost
 over market value of $1,385,876.
(2) Security is subject to the Alternative Minimum Tax.
AMBAC - Credit rating enhanced by guaranty or insurance from AMBAC Indemnity Corp.
CIFG - Credit rating enhanced by guaranty or insurance from CIFG.
FGIC - Credit rating enhanced by guaranty or insurance from Financial Guaranty Insurance Corp.
FSA - Credit rating enhanced by guaranty or insurance from Financial Security Assurance.
G.O. - General Obligation
LOC - Letter of Credit
PSF-GTD - Public School Fund Guarantee
RADIAN - Credit rating enhanced by guaranty or insurance from Radian Asset Assuarance, Inc.
VRDB - Variable Rate Demand Bonds
XLCA - Credit rating enhanced by guaranty or insurance from XL Capital Assurance.


 7


WILMINGTON FUNDS -- FIXED INCOME FUNDS
MUNICIPAL BOND FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)

The following table provides a summary of inputs used to value the Fund's net assets as of March 31, 2010:

 LEVEL 2 - LEVEL 3 -
 TOTAL VALUE AT SIGNIFICANT SIGNIFICANT
 MARCH 31, LEVEL 1 - OBSERVABLE UNOBSERVABLE
 2010 QUOTED PRICES INPUTS INPUTS
 --------------------------------------------------------------------
INVESTMENTS IN SECURITIES:
Municipal Securities $ 128,437,133 $ -- $ 128,437,133 $ --
Short-Term Investments 5,612,423 5,612,423 -- --
 --------------------------------------------------------------------
Total $ 134,049,556 $ 5,612,423 $ 128,437,133 $ --
 --------------------------------------------------------------------


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER LARGE-CAP FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)
 (Showing Percentage of Net Assets)
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
COMMON STOCK -- 91.2% Wendy's/Arby's Group, Inc.
 CONSUMER DISCRETIONARY -- 9.7% - Class A 1,200 $ 6,000
 AUTO COMPONENTS -- 0.1% WMS Industries, Inc.*(1) 120 5,033
 Autoliv, Inc.*(1) 350 $ 18,036 Wyndham Worldwide Corp. 680 17,496
 BorgWarner, Inc.* 340 12,981 Wynn Resorts, Ltd. 150 11,375
 Gentex Corp. 690 13,400 Yum! Brands, Inc. 2,260 86,626
 Johnson Controls, Inc.(1) 2,990 98,640 ------------
 The Goodyear Tire & Rubber 2,478,076
 Co.*(1) 660 8,342 ------------
 TRW Automotive Holdings Corp.* 310 8,860 HOUSEHOLD DURABLES -- 0.5%
 ------------ D.R. Horton, Inc.(1) 1,770 22,302
 160,259 Fortune Brands, Inc. 760 36,868
 ------------ Garmin, Ltd.(1) 8,290 318,999
 AUTOMOBILES -- 0.5% Harman International
 Ford Motor Co.*(1) 53,620 674,003 Industries, Inc.*(1) 180 8,420
 Harley-Davidson, Inc.(1) 1,050 29,474 Jarden Corp. 460 15,313
 Thor Industries, Inc. 280 8,459 KB Home(1) 940 15,745
 ------------ Leggett & Platt, Inc.(1) 1,070 23,155
 711,936 Lennar Corp. - Class A 1,540 26,504
 ------------ M.D.C. Holdings, Inc. 230 7,960
 DISTRIBUTORS -- 0.0% Mohawk Industries, Inc.* 250 13,595
 Genuine Parts Co. 960 40,550 Newell Rubbermaid, Inc. 1,240 18,848
 LKQ Corp.* 440 8,932 NVR, Inc.* 30 21,795
 ------------ Pulte Homes, Inc.*(1) 1,740 19,575
 49,482 Stanley Black & Decker, Inc.(1) 2,620 150,414
 ------------ Toll Brothers, Inc.*(1) 750 15,600
 DIVERSIFIED CONSUMER SERVICES -- 0.3% Whirlpool Corp.(1) 350 30,538
 Apollo Group, Inc. - Class A*(1) 687 42,106 ------------
 Brink's Home Security Holdings, 745,631
 Inc.* 120 5,106 ------------
 Career Education Corp.* 8,445 267,200 INTERNET & CATALOG RETAIL -- 0.3%
 DeVry, Inc. 330 21,516 Amazon.com, Inc.*(1) 1,030 139,802
 H&R Block, Inc. 1,660 29,548 Expedia, Inc.(1) 940 23,462
 Hillenbrand, Inc. 200 4,398 Liberty Media Corp.-
 ITT Educational Services, Interactive - Class A* 20,650 316,152
 Inc.*(1) 170 19,121 Netflix, Inc.* 80 5,899
 Service Corp. International 1,670 15,331 Priceline.com, Inc.*(1) 130 33,150
 Strayer Education, Inc.(1) 110 26,787 ------------
 Weight Watchers 518,465
 International, Inc. 360 9,191 ------------
 ------------ LEISURE EQUIPMENT & PRODUCTS -- 0.1%
 440,304 Eastman Kodak Co.*(1) 370 2,142
 ------------ Hasbro, Inc. 890 34,069
 HOTELS, RESTAURANTS & LEISURE -- 1.7% Mattel, Inc. 2,170 49,346
 Boyd Gaming Corp.* 280 2,766 ------------
 Brinker International, Inc. 3,320 64,010 85,557
 Burger King Holdings, Inc. 620 13,181 ------------
 Carnival Corp. 1,650 64,152 MEDIA -- 2.7%
 Chipotle Mexican Grill, Cablevision Systems New
 Inc. - Class A*(1) 50 5,634 York Group - Class A 9,900 238,986
 Choice Hotels CBS Corp. - Class B 3,580 49,905
 International, Inc.(1) 60 2,089 Central European Media
 Darden Restaurants, Inc. 810 36,077 Enterprises, Ltd. - Class A* 160 4,690
 Hyatt Hotels Corp. - Class A*(1) 250 9,740 Clear Channel Outdoor
 International Game Technology 1,190 21,955 Holdings, Inc. - Class A* 500 5,305
 International Speedway Comcast Corp. - Class A(1) 28,530 536,934
 Corp. - Class A 70 1,804 CTC Media, Inc.* 20 344
 Las Vegas Sands Corp.*(1) 1,020 21,573 DIRECTV - Class A* 13,690 462,859
 Marriott International, Discovery Communications,
 Inc. - Class A(1) 1,072 33,789 Inc. - Class A*(1) 25 845
 McDonald's Corp. 29,079 1,940,151 Discovery Communications,
 MGM MIRAGE*(1) 1,010 12,120 Inc. - Class C* 975 28,675
 Panera Bread Co. - Class A* 45 3,442 DISH Network Corp.* 1,580 32,896
 Penn National Gaming, Inc.* 280 7,784 DreamWorks Animation SKG,
 Royal Caribbean Cruises, Ltd.*(1) 480 15,835 Inc. - Class A* 190 7,484
 Scientific Games Corp. - Gannett Co., Inc.(1) 1,390 22,963
 Class A*(1) 200 2,816 Interactive Data Corp. 240 7,680
 Starbucks Corp.*(1) 2,360 57,277 John Wiley & Sons, Inc. - Class A 300 12,984
 Starwood Hotels & Resorts Lamar Advertising Co. - Class A* 300 10,305
 Worldwide, Inc.(1) 730 34,047
 Tim Hortons, Inc. 40 1,304



 1


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER LARGE-CAP FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Liberty Global, Inc. - Class A*(1) 10,820 $ 315,511 RadioShack Corp. 860 $ 19,462
 Liberty Media Corp. - Series A*(1) 176 9,624 Ross Stores, Inc. 540 28,874
 Liberty Media Corp. - Signet Jewelers, Ltd.*(1) 220 7,115
 Capital Class A* 560 20,367 Staples, Inc.(1) 3,310 77,421
 Madison Square Garden, Inc.* 87 1,890 The Gap, Inc. 15,120 349,423
 Meredith Corp.(1) 360 12,388 The Home Depot, Inc.(1) 9,810 317,353
 Morningstar, Inc.* 100 4,809 The Sherwin-Williams Co.(1) 658 44,533
 News Corp. - Class A 10,830 156,060 The TJX Cos., Inc.(1) 38,240 1,625,965
 Omnicom Group, Inc.(1) 1,790 69,470 Tiffany & Co. 490 23,270
 Regal Entertainment Group - Urban Outfitters, Inc.*(1) 360 13,691
 Class A 770 13,529 Williams-Sonoma, Inc. 340 8,939
 Scripps Networks ------------
 Interactive, Inc. - Class A 280 12,418 3,069,058
 The Interpublic Group of ------------
 Cos., Inc.* 1,180 9,818 TEXTILES, APPAREL & LUXURY GOODS -- 0.9%
 The McGraw-Hill Cos., Inc. 2,040 72,726 Coach, Inc.(1) 1,430 56,514
 The New York Times Co. - Hanesbrands, Inc.*(1) 260 7,233
 Class A*(1) 670 7,457 Jones Apparel Group, Inc. 230 4,375
 The Walt Disney Co.(1) 41,666 1,454,560 Nike, Inc. - Class B(1) 14,940 1,098,090
 The Washington Post Co. - Class B 40 17,767 Phillips-Van Heusen Corp. 180 10,325
 Time Warner Cable, Inc.* 1,014 54,056 Polo Ralph Lauren Corp.(1) 300 25,512
 Time Warner, Inc.* 6,826 213,449 V.F. Corp. 650 52,097
 Viacom, Inc. - Class B* 1,740 59,821 ------------
 Virgin Media, Inc.(1) 1,170 20,194 1,254,146
 Warner Music Group Corp.* 480 3,317 ------------
 ------------ TOTAL CONSUMER DISCRETIONARY 14,145,394
 3,952,086 ------------
 ------------ CONSUMER STAPLES -- 12.9%
 MULTILINE RETAIL -- 0.5% BEVERAGES -- 3.2%
 Big Lots, Inc.* 224 8,158 Brown-Forman Corp. - Class B(1) 598 35,551
 Dollar Tree, Inc.*(1) 321 19,010 Central European Distribution
 Family Dollar Stores, Inc.(1) 826 30,240 Corp.* 180 6,302
 J.C. Penney Co., Inc.(1) 1,130 36,352 Coca-Cola Enterprises, Inc. 1,770 48,958
 Kohl's Corp.* 1,210 66,284 Constellation Brands, Inc.
 Macy's, Inc.(1) 1,580 34,397 - Class A* 1,030 16,933
 Nordstrom, Inc. 950 38,807 Dr Pepper Snapple Group, Inc. 1,000 35,170
 Sears Holdings Corp.*(1) 340 36,866 Hansen Natural Corp.* 334 14,489
 Target Corp. 7,800 410,280 Molson Coors Brewing Co. -
 ------------ Class B(1) 830 34,910
 680,394 PepsiCo, Inc. 34,659 2,293,039
 ------------ The Coca-Cola Co. 39,731 2,185,205
 SPECIALTY RETAIL -- 2.1% ------------
 Aaron's, Inc.(1) 200 6,668 4,670,557
 Abercrombie & Fitch Co. - Class A 400 18,256 ------------
 Advance Auto Parts, Inc. 450 18,864 FOOD & STAPLES RETAILING -- 3.6%
 Aeropostale, Inc.* 240 6,919 BJ's Wholesale Club, Inc.* 100 3,699
 American Eagle Outfitters, Inc. 950 17,594 Costco Wholesale Corp.*(1) 24,650 1,471,851
 AutoNation, Inc.*(1) 580 10,486 CVS Caremark Corp. 5,580 204,005
 AutoZone, Inc.* 160 27,694 Safeway, Inc.(1) 10,510 261,279
 Barnes & Noble, Inc. 150 3,243 SUPERVALU, Inc.(1) 1,810 30,191
 Bed Bath & Beyond, Inc.*(1) 990 43,322 SYSCO Corp.(1) 3,240 95,580
 Best Buy Co., Inc. 1,940 82,528 The Kroger Co. 3,106 67,276
 Carmax, Inc.*(1) 600 15,072 Wal-Mart Stores, Inc.(1) 50,113 2,786,283
 Chico's FAS, Inc. 490 7,066 Walgreen Co.(1) 9,310 345,308
 Dick's Sporting Goods, Inc.*(1) 200 5,222 Whole Foods Market, Inc.* 470 16,990
 Foot Locker, Inc. 830 12,483 ------------
 GameStop Corp. - Class A*(1) 720 15,775 5,282,462
 Guess?, Inc. 320 15,034 ------------
 Limited Brands, Inc. 1,350 33,237 FOOD PRODUCTS -- 1.6%
 Lowe's Cos., Inc. 6,810 165,074 Archer-Daniels-Midland Co. 2,940 84,966
 O'Reilly Automotive, Inc.*(1) 400 16,684 Bunge, Ltd. 570 35,129
 Office Depot, Inc.* 970 7,741 Campbell Soup Co.(1) 1,456 51,469
 OfficeMax, Inc.* 180 2,956 ConAgra Foods, Inc. 2,230 55,906
 PetSmart, Inc.* 660 21,094 Corn Products International, Inc. 7,370 255,444
 Dean Foods Co.* 520 8,159
 Del Monte Foods Co.(1) 26,480 386,608
 Flowers Foods, Inc.(1) 250 6,185
 General Mills, Inc. 1,752 124,024



 2


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER LARGE-CAP FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Green Mountain Coffee Rowan Cos., Inc.*(1) 540 $ 15,719
 Roasters, Inc.*(1) 80 $ 7,746 Schlumberger, Ltd.(1) 30,274 1,921,188
 H.J. Heinz Co. 1,850 84,378 SEACOR Holdings, Inc.* 60 4,840
 Hormel Foods Corp. 430 18,064 Seahawk Drilling, Inc.* 30 566
 Kellogg Co. 1,590 84,954 Smith International, Inc. 1,090 46,674
 Kraft Foods, Inc. - Class A 11,507 347,972 Superior Energy Services, Inc.* 240 5,045
 McCormick & Co., Inc.(1) 630 24,167 Tidewater, Inc. 260 12,290
 Mead Johnson Nutrition Co. Unit Corp.*(1) 220 9,302
 - Class A 820 42,665 Weatherford International, Ltd.* 30 476
 Ralcorp Holdings, Inc.* 150 10,167 ------------
 Sara Lee Corp. 4,000 55,720 3,941,648
 Smithfield Foods, Inc.*(1) 410 8,503 ------------
 The Hershey Co.(1) 3,490 149,407 OIL, GAS & CONSUMABLE FUELS -- 6.6%
 The J.M. Smucker Co. 499 30,070 Alpha Natural Resources, Inc.*(1) 316 15,765
 Tyson Foods, Inc. - Class A(1) 24,280 464,962 Anadarko Petroleum Corp. 1,750 127,452
 ------------ Apache Corp. 3,630 368,445
 2,336,665 Arch Coal, Inc.(1) 590 13,481
 ------------ Cabot Oil & Gas Corp.(1) 320 11,776
 HOUSEHOLD PRODUCTS -- 3.2% Chesapeake Energy Corp.(1) 2,100 49,644
 Church & Dwight Co., Inc. 1,646 110,200 Chevron Corp. 20,900 1,584,847
 Colgate-Palmolive Co. 21,508 1,833,772 Cimarex Energy Co. 250 14,845
 Energizer Holdings, Inc.*(1) 390 24,476 CNX Gas Corp.* 20 761
 Kimberly-Clark Corp. 6,870 431,986 Comstock Resources, Inc.* 130 4,134
 The Clorox Co. 808 51,825 Concho Resources, Inc.*(1) 180 9,065
 The Procter & Gamble Co. 35,446 2,242,668 ConocoPhillips 17,900 915,943
 ------------ Consol Energy, Inc. 650 27,729
 4,694,927 Continental Resources, Inc.* 160 6,808
 ------------ Denbury Resources, Inc.* 1,215 20,497
 PERSONAL PRODUCTS -- 0.3% Devon Energy Corp. 1,600 103,088
 Alberto-Culver Co. 250 6,538 El Paso Corp. 2,040 22,114
 Avon Products, Inc. 2,200 74,514 EOG Resources, Inc. 900 83,646
 Estee Lauder Cos., Inc. - EXCO Resources, Inc. 370 6,801
 Class A(1) 600 38,922 Exxon Mobil Corp.(1) 47,870 3,206,333
 Herbalife, Ltd. 6,580 303,470 Forest Oil Corp.*(1) 300 7,746
 NBTY, Inc.* 180 8,636 Frontier Oil Corp. 680 9,180
 ------------ Frontline, Ltd.(1) 610 18,684
 432,080 Hess Corp. 1,190 74,434
 ------------ Holly Corp.(1) 310 8,652
 TOBACCO -- 1.0% Marathon Oil Corp. 6,820 215,785
 Altria Group, Inc. 18,220 373,874 Mariner Energy, Inc.* 350 5,240
 Lorillard, Inc. 1,040 78,250 Massey Energy Co. 220 11,504
 Philip Morris International, Inc. 14,250 743,280 Murphy Oil Corp. 850 47,761
 Reynolds American, Inc. 3,700 199,726 Newfield Exploration Co.* 360 18,738
 ------------ Noble Energy, Inc. 760 55,480
 1,395,130 Occidental Petroleum Corp. 18,250 1,542,855
 ------------ Overseas Shipholding Group,
 TOTAL CONSUMER STAPLES 18,811,821 Inc.(1) 270 10,592
 ------------ Patriot Coal Corp.*(1) 36 737
 ENERGY -- 9.3% Peabody Energy Corp. 870 39,759
 ENERGY EQUIPMENT & SERVICES -- 2.7% Petrohawk Energy Corp.* 900 18,252
 Atwood Oceanics, Inc.*(1) 150 5,195 Pioneer Natural Resources Co.(1) 320 18,022
 Baker Hughes, Inc.*(1) 1,400 65,576 Plains Exploration &
 BJ Services Co. 620 13,268 Production Co.* 491 14,725
 Cameron International Corp.* 24,080 1,032,069 Quicksilver Resources, Inc.* 290 4,080
 Diamond Offshore Drilling, Inc. 950 84,369 Range Resources Corp. 550 25,778
 Dresser-Rand Group, Inc.* 250 7,855 SandRidge Energy, Inc.*(1) 430 3,311
 Exterran Holdings, Inc.*(1) 100 2,417 Southern Union Co. 510 12,939
 FMC Technologies, Inc.* 480 31,022 Southwestern Energy Co.* 1,028 41,860
 Global Industries, Ltd.* 10 64 Spectra Energy Corp.(1) 3,600 81,108
 Halliburton Co. 3,930 118,411 St. Mary Land & Exploration Co. 170 5,918
 Helix Energy Solutions Sunoco, Inc. 870 25,848
 Group, Inc.* 530 6,906 Teekay Corp. 520 11,825
 Helmerich & Payne, Inc. 380 14,470 Tesoro Corp.*(1) 1,040 14,456
 Nabors Industries, Ltd.* 12,130 238,112 The Williams Cos., Inc. 15,950 368,445
 National Oilwell Varco, Inc. 1,980 80,348
 Oceaneering International,
 Inc.*(1) 140 8,889
 Oil States International, Inc.* 4,160 188,614
 Patterson-UTI Energy, Inc.(1) 730 10,198
 Pride International, Inc.* 590 17,765



 3


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER LARGE-CAP FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Valero Energy Corp. 6,060 $ 119,382 SunTrust Banks, Inc.(1) 1,900 $ 50,901
 W&T Offshore, Inc.(1) 210 1,764 Synovus Financial Corp.(1) 3,440 11,318
 Whiting Petroleum Corp.* 100 8,084 TCF Financial Corp.(1) 710 11,317
 XTO Energy, Inc. 4,310 203,346 U.S. Bancorp(1) 7,400 191,512
 ------------ Valley National Bancorp 1,144 17,583
 9,639,464 Webster Financial Corp. 110 1,924
 ------------ Wells Fargo & Co. 27,755 863,736
 TOTAL ENERGY 13,581,112 Whitney Holdings Corp. 450 6,205
 ------------ Zions Bancorp(1) 590 12,874
 FINANCIALS -- 11.7% ------------
 CAPITAL MARKETS -- 2.4% 2,202,875
 Affiliated Managers Group, Inc.*(1) 170 13,430 ------------
 Ameriprise Financial, Inc. 1,140 51,710 CONSUMER FINANCE -- 0.6%
 BlackRock, Inc. 1,060 230,826 American Express Co. 8,910 367,626
 Eaton Vance Corp.(1) 570 19,118 AmeriCredit Corp.*(1) 980 23,285
 Federated Investors, Inc.(1) 570 15,037 Capital One Financial Corp. 3,690 152,803
 Franklin Resources, Inc.(1) 710 78,739 Discover Financial Services 18,750 279,375
 GLG Partners, Inc.*(1) 370 1,136 SLM Corp.* 1,660 20,783
 Greenhill & Co., Inc.(1) 160 13,134 The Student Loan Corp. 120 4,264
 Invesco, Ltd. 1,970 43,163 ------------
 Investment Technology Group, 848,136
 Inc.* 230 3,839 ------------
 Janus Capital Group, Inc. 950 13,575 DIVERSIFIED FINANCIAL SERVICES -- 2.7%
 Jefferies Group, Inc.(1) 460 10,888 Bank of America Corp. 50,790 906,601
 Lazard, Ltd. - Class A(1) 350 12,495 Citigroup, Inc.*(1) 65,240 264,222
 Legg Mason, Inc.(1) 710 20,356 CME Group, Inc. 310 97,994
 Morgan Stanley 5,360 156,994 Interactive Brokers Group,
 Northern Trust Corp.(1) 1,080 59,681 Inc. - Class A* 310 5,007
 Raymond James Financial, Inc.(1) 510 13,637 IntercontinentalExchange, Inc.*(1) 200 22,436
 SEI Investments Co. 640 14,061 JPMorgan Chase & Co. 57,480 2,572,230
 State Street Corp. 1,550 69,967 Leucadia National Corp.* 770 19,104
 T.Rowe Price Group, Inc. 1,080 59,324 Moody's Corp.(1) 1,310 38,972
 TD Ameritrade Holding Corp.*(1) 920 17,535 MSCI, Inc.*(1) 240 8,664
 The Bank of New York Mellon Corp. 13,770 425,218 NYSE Euronext, Inc. 1,320 39,085
 The Charles Schwab Corp.(1) 64,270 1,201,206 The NASDAQ OMX Group, Inc.* 830 17,530
 The Goldman Sachs Group, Inc. 5,210 888,982 ------------
 Waddell & Reed Financial, Inc. - 3,991,845
 Class A 440 15,858 ------------
 ------------ INSURANCE -- 3.1%
 3,449,909 AFLAC, Inc. 8,200 445,178
 ------------ Alleghany Corp.* 31 8,898
 COMMERCIAL BANKS -- 1.5% Allied World Assurance
 Associated Banc-Corp.(1) 885 12,213 Holdings, Ltd. 330 14,801
 Bancorpsouth, Inc. 310 6,498 American Financial Group, Inc. 1,040 29,588
 Bank of Hawaii Corp. 170 7,641 American International
 BB&T Corp.(1) 3,220 104,296 Group, Inc.*(1) 400 13,656
 BOK Financial Corp. 320 16,781 American National Insurance Co. 60 6,812
 CapitalSource, Inc.(1) 3,440 19,230 AON Corp. 1,250 53,388
 City National Corp.(1) 240 12,953 Arch Capital Group, Ltd.* 480 36,600
 Comerica, Inc. 600 22,824 Arthur J. Gallagher & Co. 680 16,694
 Commerce Bancshares, Inc. 297 12,219 Aspen Insurance Holdings, Ltd. 790 22,784
 Cullen/Frost Bankers, Inc. 240 13,392 Assurant, Inc. 1,040 35,755
 Fifth Third Bancorp(1) 2,530 34,383 AXIS Capital Holdings, Ltd. 1,480 46,265
 First Citizens BancShares, Berkshire Hathaway, Inc.*(1) 4,300 349,461
 Inc. - Class A 50 9,938 Brown & Brown, Inc. 670 12,006
 First Horizon National Corp.* 762 10,707 Chubb Corp. 6,330 328,210
 Fulton Financial Corp. 910 9,273 Cincinnati Financial Corp.(1) 1,366 39,477
 Huntington Bancshares, Inc. 2,761 14,826 CNA Financial Corp.*(1) 1,150 30,728
 KeyCorp. 3,700 28,675 Endurance Specialty Holdings, Ltd. 600 22,290
 M&T Bank Corp.(1) 600 47,628 Erie Indemnity Co. - Class A 270 11,645
 Marshall & Ilsley Corp.(1) 2,370 19,078 Everest Re Group, Ltd. 470 38,037
 PNC Financial Services Group, Fidelity National Financial,
 Inc. 9,910 591,627 Inc. - Class A 1,120 16,598
 Popular, Inc.* 3,340 9,719 First American Corp. 700 23,688
 Regions Financial Corp.(1) 4,026 31,604 Genworth Financial, Inc. - Class A* 7,160 131,314



 4


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER LARGE-CAP FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Hartford Financial Services HRPT Properties Trust(1) 1,770 $ 13,771
 Group, Inc. 4,090 $ 116,238 Kimco Realty Corp.(1) 2,380 37,223
 HCC Insurance Holdings, Inc. 770 21,252 Liberty Property Trust(1) 740 25,116
 Lincoln National Corp. 1,970 60,479 Mack-Cali Realty Corp.(1) 230 8,108
 Loews Corp. 9,260 345,213 Nationwide Health Properties,
 Markel Corp.* 80 29,973 Inc.(1) 830 29,174
 Marsh & McLennan Cos., Inc. 2,540 62,027 Plum Creek Timber Co., Inc.(1) 1,010 39,299
 MBIA, Inc.* 1,150 7,211 ProLogis(1) 3,020 39,864
 Mercury General Corp. 540 23,609 Public Storage(1) 760 69,912
 MetLife, Inc. 6,251 270,918 Rayonier, Inc. 410 18,626
 Old Republic International Corp. 2,550 32,334 Realty Income Corp.(1) 750 23,017
 OneBeacon Insurance Group, Ltd. 550 9,488 Regency Centers Corp. 460 17,236
 PartnerRe, Ltd. 2,770 220,824 Senior Housing Properties Trust 990 21,928
 Protective Life Corp. 1,130 24,849 Simon Property Group, Inc. 1,273 106,805
 Prudential Financial, Inc. 3,820 231,110 SL Green Realty Corp.(1) 260 14,890
 Reinsurance Group of America, Inc. 590 30,987 Taubman Centers, Inc.(1) 350 13,972
 RenaissanceRe Holdings, Ltd. 420 23,839 The Macerich Co.(1) 690 26,434
 StanCorp Financial Group, Inc. 390 18,576 UDR, Inc.(1) 780 13,759
 The Allstate Corp. 4,780 154,442 Ventas, Inc.(1) 780 37,034
 The Hanover Insurance Group, Inc. 150 6,542 Vornado Realty Trust 903 68,357
 The Principal Financial Group, Walter Investment Management Corp. 43 688
 Inc.(1) 2,740 80,035 Weingarten Realty, Inc.(1) 760 16,386
 The Progressive Corp. 3,480 66,433 ------------
 The Travelers Cos., Inc. 10,230 551,806 1,603,478
 Torchmark Corp.(1) 620 33,176 ------------
 TransAtlantic Holdings, Inc. 420 22,176 REAL ESTATE MANAGEMENT & DEVELOPMENT -- 0.0%
 Unitrin, Inc. 370 10,379 CB Richard Ellis Group, Inc. -
 Unum Group 12,800 317,056 Class A* 1,110 17,594
 Validus Holdings, Ltd. 570 15,692 Forest City Enterprises, Inc. -
 W.R. Berkley Corp. 1,480 38,613 Class A*(1) 400 5,764
 White Mountains Insurance Group, Jones Lang LaSalle, Inc. 170 12,391
 Ltd. 10 3,550 The St. Joe Co.*(1) 220 7,117
 XL Capital, Ltd. - Class A 2,620 49,518 ------------
 ------------ 42,866
 4,612,218 ------------
 ------------ THRIFTS & MORTGAGE FINANCE -- 0.3%
 REAL ESTATE INVESTMENT TRUSTS -- 1.1% Capitol Federal Financial(1) 304 11,388
 Alexandria Real Estate Equities, First Niagara Financial Group,
 Inc. 140 9,464 Inc.(1) 1,030 14,647
 AMB Property Corp. 840 22,882 Hudson City Bancorp, Inc. 20,432 289,317
 Annaly Mortgage Management, Inc. 27,210 467,468 New York Community Bancorp,
 Apartment Investment & Management Inc.(1) 2,790 46,147
 Co. - Class A 610 11,230 People's United Financial, Inc. 1,543 24,133
 AvalonBay Communities, Inc. 402 34,713 TFS Financial Corp.(1) 250 3,337
 Boston Properties, Inc.(1) 620 46,773 Tree.com, Inc.*(1) 50 457
 Brandywine Realty Trust 1,130 13,797 Washington Federal, Inc. 670 13,614
 BRE Properties, Inc. 490 17,517 ------------
 Camden Property Trust 370 15,403 403,040
 Chimera Investment Corp. 1,640 6,380 ------------
 Corporate Office Properties TOTAL FINANCIALS 17,154,367
 Trust(1) 320 12,842 ------------
 Digital Realty Trust, Inc.(1) 390 21,138 HEALTH CARE -- 12.5%
 Douglas Emmett, Inc. 610 9,376 BIOTECHNOLOGY -- 2.0%
 Duke Realty Corp.(1) 1,310 16,244 Abraxis Bioscience, Inc.* 89 4,606
 Equity Residential 1,530 59,899 Alexion Pharmaceuticals, Inc.* 270 14,680
 Essex Property Trust, Inc.(1) 230 20,688 Amgen, Inc.* 11,884 710,188
 Federal Realty Investment Trust 370 26,940 Amylin Pharmaceuticals, Inc.*(1) 380 8,546
 Health Care Property Biogen Idec, Inc.* 770 44,167
 Investors, Inc. 1,900 62,700 BioMarin Pharmaceutical, Inc.* 300 7,011
 Health Care REIT, Inc.(1) 800 36,184 Celgene Corp.* 1,360 84,266
 Hospitality Properties Trust 550 13,173 Cephalon, Inc.*(1) 253 17,148
 Host Hotels & Resorts, Inc.(1) 2,530 37,068 Dendreon Corp.*(1) 360 13,129
 Genzyme Corp.* 1,020 52,867
 Gilead Sciences, Inc.* 40,627 1,847,716
 Myriad Genetics, Inc.* 310 7,456
 OSI Pharmaceuticals, Inc.* 210 12,505



 5


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER LARGE-CAP FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Talecris Biotherapeutics Universal Health Services,
 Holdings Corp.* 400 $ 7,968 Inc. - Class B 480 $ 16,843
 United Therapeutics Corp.*(1) 140 7,746 VCA Antech, Inc.*(1) 370 10,371
 Vertex Pharmaceuticals, Inc.* 583 23,827 WellPoint, Inc.* 8,110 522,122
 ------------ ------------
 2,863,826 2,798,816
 ------------ ------------
 HEALTH CARE EQUIPMENT & SUPPLIES -- 1.6% HEALTH CARE TECHNOLOGY -- 0.0%
 Baxter International, Inc. 2,880 167,616 Allscripts Healthcare Solutions,
 Beckman Coulter, Inc. 290 18,212 Inc.*(1) 300 5,868
 Becton, Dickinson & Co.(1) 1,160 91,327 Cerner Corp.* 210 17,863
 Boston Scientific Corp.* 6,700 48,374 ------------
 C.R. Bard, Inc.(1) 480 41,578 23,731
 CareFusion Corp.* 5,200 137,436 ------------
 Covidien PLC 10 503 LIFE SCIENCES TOOLS & SERVICES -- 0.2%
 DENTSPLY International, Inc. 570 19,865 Bio-Rad Laboratories, Inc.
 Edwards Lifesciences Corp.* 193 19,084 - Class A* 90 9,317
 Gen-Probe, Inc.* 310 15,500 Charles River Laboratories
 Hill-Rom Holdings, Inc. 260 7,075 International, Inc.*(1) 320 12,579
 Hologic, Inc.* 840 15,574 Covance, Inc.* 240 14,734
 Hospira, Inc.* 5,570 315,540 Illumina, Inc.*(1) 400 15,560
 Idexx Laboratories, Inc.*(1) 190 10,935 Life Technologies Corp.* 631 32,982
 Intuitive Surgical, Inc.*(1) 100 34,813 Mettler-Toledo International, Inc.* 120 13,104
 Inverness Medical Innovations, Millipore Corp.* 220 23,232
 Inc.*(1) 250 9,738 PerkinElmer, Inc. 570 13,623
 Kinetic Concepts, Inc.* 340 16,255 Pharmaceutical Product
 Medtronic, Inc. 5,380 242,261 Development, Inc. 960 22,800
 ResMed, Inc.*(1) 260 16,549 Techne Corp. 231 14,712
 St. Jude Medical, Inc.* 1,270 52,133 Thermo Fisher Scientific, Inc.* 1,520 78,189
 Stryker Corp.(1) 17,470 999,633 Waters Corp.* 310 20,937
 Teleflex, Inc. 260 16,658 ------------
 The Cooper Cos., Inc.(1) 350 13,608 271,769
 Varian Medical Systems, Inc.*(1) 450 24,898 ------------
 Zimmer Holdings, Inc.* 910 53,872 PHARMACEUTICALS -- 6.8%
 ------------ Abbott Laboratories 43,289 2,280,464
 2,389,037 Allergan, Inc. 21,040 1,374,333
 ------------ Bristol-Myers Squibb Co.(1) 29,020 774,837
 HEALTH CARE PROVIDERS & SERVICES -- 1.9% Eli Lilly & Co. 7,280 263,682
 Aetna, Inc. 6,840 240,153 Endo Pharmaceuticals Holdings,
 AmerisourceBergen Corp. 7,770 224,708 Inc.* 510 12,082
 Brookdale Senior Living, Inc.*(1) 470 9,790 Forest Laboratories, Inc.* 1,430 44,845
 Cardinal Health, Inc. 14,550 524,237 Johnson & Johnson 29,590 1,929,268
 CIGNA Corp. 1,290 47,188 King Pharmaceuticals, Inc.* 1,330 15,641
 Community Health Systems, Inc.* 390 14,403 Merck & Co., Inc. 59,166 2,209,850
 Coventry Health Care, Inc.* 890 22,001 Mylan Laboratories, Inc.*(1) 1,130 25,662
 DaVita, Inc.* 394 24,980 Perrigo Co.(1) 260 15,267
 Emdeon, Inc. - Class A* 150 2,478 Pfizer, Inc. 55,897 958,634
 Express Scripts, Inc.* 900 91,584 Valeant Pharmaceuticals
 Health Management Associates, International*(1) 230 9,869
 Inc. - Class A* 800 6,880 Watson Pharmaceuticals, Inc.* 320 13,366
 Health Net, Inc.* 420 10,445 ------------
 Henry Schein, Inc.* 360 21,204 9,927,800
 Humana, Inc.* 870 40,690 ------------
 Laboratory Corp. of America TOTAL HEALTH CARE 18,274,979
 Holdings* 510 38,612 ------------
 LifePoint Hospitals, Inc.*(1) 230 8,459 INDUSTRIALS -- 9.0%
 Lincare Holdings, Inc.*(1) 380 17,054 AEROSPACE & DEFENSE -- 1.7%
 McKesson Corp. 1,370 90,036 Alliant Techsystems, Inc.*(1) 220 17,886
 Medco Health Solutions, Inc.* 1,840 118,790 BE Aerospace, Inc.* 200 6,090
 MEDNAX, Inc.* 270 15,711 General Dynamics Corp. 1,980 152,856
 Omnicare, Inc. 559 15,814 Goodrich Corp. 530 37,376
 Patterson Cos., Inc. 470 14,594 Honeywell International, Inc. 4,440 200,999
 Quest Diagnostics, Inc.(1) 750 43,718 ITT Corp. 970 52,002
 Tenet Healthcare Corp.* 1,300 7,436 L-3 Communications Holdings, Inc. 2,190 200,670
 UnitedHealth Group, Inc. 18,320 598,515 Lockheed Martin Corp. 2,360 196,399
 Northrop Grumman Corp. 1,890 123,927
 Precision Castparts Corp. 490 62,088
 Raytheon Co. 6,180 353,001



 6


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER LARGE-CAP FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Rockwell Collins, Inc.(1) 670 $ 41,935 Hubbell, Inc. - Class B(1) 390 $ 19,668
 Spirit Aerosystems Holdings, Inc. Rockwell Automation, Inc.(1) 620 34,943
 - Class A* 440 10,287 Roper Industries, Inc. 410 23,714
 The Boeing Co. 9,910 719,565 SunPower Corp. - Class A*(1) 190 3,591
 TransDigm Group, Inc.* 90 4,774 Thomas & Betts Corp.* 4,630 181,681
 United Technologies Corp. 4,550 334,925 ------------
 ------------ 1,362,274
 2,514,780 ------------
 ------------ INDUSTRIAL CONGLOMERATES -- 2.3%
 AIR FREIGHT & LOGISTICS -- 0.6% 3M Co. 20,910 1,747,449
 C.H. Robinson Worldwide, Inc.(1) 784 43,786 Carlisle Cos., Inc. 390 14,859
 Expeditors International General Electric Co. 82,000 1,492,400
 Washington, Inc. 780 28,798 McDermott International, Inc.* 980 26,382
 FedEx Corp.(1) 1,140 106,476 Textron, Inc.(1) 1,210 25,688
 United Parcel Service, Inc. Tyco International, Ltd. 40 1,530
 - Class B(1) 11,310 728,477 ------------
 UTi Worldwide, Inc.(1) 400 6,128 3,308,308
 ------------ ------------
 913,665 MACHINERY -- 1.3%
 ------------ AGCO Corp.* 360 12,913
 AIRLINES -- 0.1% Bucyrus International, Inc. 210 13,858
 AMR Corp.* 940 8,563 Caterpillar, Inc.(1) 3,200 201,120
 Continental Airlines, Inc. Crane Co. 350 12,425
 - Class B*(1) 560 12,303 Cummins, Inc. 950 58,853
 Copa Holdings SA 120 7,296 Danaher Corp. 1,190 95,093
 Delta Airlines Co.* 2,120 30,931 Deere & Co. 1,940 115,352
 Southwest Airlines Co. 2,930 38,735 Donaldson Co., Inc. 230 10,378
 ------------ Dover Corp. 1,120 52,360
 97,828 Eaton Corp. 970 73,497
 ------------ Flowserve Corp. 240 26,465
 BUILDING PRODUCTS -- 0.0% Gardner Denver, Inc. 230 10,129
 Armstrong World Industries, Inc.* 40 1,452 Graco, Inc. 490 15,680
 Lennox International, Inc. 190 8,421 Harsco Corp. 310 9,901
 Masco Corp. 2,330 36,161 IDEX Corp. 320 10,592
 Owens Corning, Inc.* 390 9,922 Illinois Tool Works, Inc. 2,550 120,768
 ------------ John Bean Technologies Corp. 12 211
 55,956 Joy Global, Inc. 4,600 260,360
 ------------ Kennametal, Inc. 250 7,030
 COMMERCIAL SERVICES & SUPPLIES -- 0.6% Lincoln Electric Holdings, Inc. 200 10,866
 Avery Dennison Corp.(1) 510 18,569 Navistar International Corp.* 380 16,997
 Cintas Corp. 620 17,416 Oshkosh Corp.* 5,810 234,376
 Copart, Inc.* 240 8,544 PACCAR, Inc.(1) 1,480 64,143
 Corrections Corp. of America*(1) 300 5,958 Pall Corp.(1) 3,770 152,647
 Covanta Holding Corp.* 810 13,495 Parker Hannifin Corp. 900 58,266
 Iron Mountain, Inc. 580 15,892 Pentair, Inc. 620 22,084
 Pitney Bowes, Inc. 1,430 34,964 Snap-On, Inc. 480 20,803
 R.R. Donnelley & Sons Co. 19,470 415,684 SPX Corp. 230 15,254
 Republic Services, Inc. 5,790 168,026 Terex Corp.* 530 12,036
 Stericycle, Inc.* 252 13,734 The Manitowoc Co., Inc. 710 9,230
 The Brink's Co.(1) 200 5,646 The Toro Co.(1) 170 8,359
 Waste Connections, Inc.* 250 8,490 Timken Co. 500 15,005
 Waste Management, Inc. 2,880 99,158 Trinity Industries, Inc.(1) 7,280 145,309
 ------------ Valmont Industries, Inc. 60 4,970
 825,576 WABCO Holdings, Inc.* 150 4,488
 ------------ Wabtec Corp. 110 4,633
 CONSTRUCTION & ENGINEERING -- 0.8% ------------
 Aecom Technology Corp.* 300 8,511 1,906,451
 Fluor Corp.(1) 19,320 898,573 ------------
 Foster Wheeler AG* 110 2,985 MARINE -- 0.0%
 Jacobs Engineering Group, Inc.* 550 24,855 Alexander & Baldwin, Inc. 260 8,593
 KBR, Inc. 570 12,631 Kirby Corp.*(1) 100 3,815
 Quanta Services, Inc.* 610 11,688 ------------
 The Shaw Group, Inc.* 4,940 170,035 12,408
 URS Corp.* 320 15,875 ------------
 ------------ PROFESSIONAL SERVICES -- 0.1%
 1,145,153 Equifax, Inc.(1) 660 23,628
 ------------ FTI Consulting, Inc.* 220 8,650
 ELECTRICAL EQUIPMENT -- 0.9% IHS, Inc. - Class A* 140 7,486
 AMETEK, Inc. 480 19,901 Manpower, Inc.(1) 460 26,275
 Emerson Electric Co. 19,350 974,079
 First Solar, Inc.*(1) 180 22,077
 General Cable Corp.*(1) 3,060 82,620



 7


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER LARGE-CAP FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Robert Half International, Inc.(1) 710 $ 21,605 Teradata Corp.* 570 $ 16,467
 The Corporate Executive Board Western Digital Corp.* 11,080 432,009
 Co.(1) 100 2,659 ------------
 The Dun & Bradstreet Corp. 230 17,117 9,217,302
 Verisk Analytics, Inc.* 300 8,460 ------------
 ------------ ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS -- 0.3%
 115,880 Agilent Technologies, Inc.* 1,290 44,363
 ------------ Amphenol Corp. - Class A 650 27,423
 ROAD & RAIL -- 0.5% Arrow Electronics, Inc.* 540 16,270
 Con-way, Inc. 240 8,429 Avnet, Inc.* 760 22,800
 CSX Corp. 1,730 88,057 AVX Corp. 200 2,840
 Hertz Global Holdings, Inc.* 650 6,494 Corning, Inc. 6,340 128,131
 JB Hunt Transport Services, Inc. 380 13,634 Dolby Laboratories, Inc.* 150 8,801
 Kansas City Southern Industries, FLIR Systems, Inc.*(1) 590 16,638
 Inc.* 300 10,851 Ingram Micro, Inc. - Class A* 800 14,040
 Landstar System, Inc.(1) 190 7,976 Itron, Inc.*(1) 170 12,337
 Norfolk Southern Corp. 1,990 111,221 Jabil Circuit, Inc. 940 15,219
 Ryder Systems, Inc. 240 9,302 Molex, Inc. 850 17,731
 Union Pacific Corp. 7,360 539,488 National Instruments Corp. 220 7,337
 ------------ Tech Data Corp.* 300 12,570
 795,452 Trimble Navigation, Ltd.* 350 10,052
 ------------ Vishay Intertechnology, Inc.*(1) 8,370 85,625
 TRADING COMPANIES & DISTRIBUTORS -- 0.1% ------------
 Fastenal Co.(1) 580 27,834 442,177
 GATX Corp.(1) 290 8,309 ------------
 MSC Industrial Direct Co., INTERNET SOFTWARE & SERVICES -- 2.4%
 Inc. - Class A 290 14,709 Akamai Technologies, Inc.* 750 23,558
 W.W. Grainger, Inc. 310 33,517 AOL, Inc.* 631 15,952
 WESCO International, Inc.* 380 13,190 eBay, Inc.* 18,720 504,504
 ------------ Equinix, Inc.*(1) 90 8,761
 97,559 Google, Inc. - Class A* 5,005 2,837,885
 ------------ IAC/InterActiveCorp.* 630 14,326
 TOTAL INDUSTRIALS 13,151,290 Monster Worldwide, Inc.*(1) 620 10,298
 ------------ Sohu.com, Inc.* 100 5,460
 INFORMATION TECHNOLOGY -- 18.4% VeriSign, Inc.* 950 24,709
 COMMUNICATIONS EQUIPMENT -- 3.8% WebMD Health Corp.* 153 7,096
 ADC Telecommunications, Inc.* 280 2,047 Yahoo!, Inc.* 4,570 75,542
 Brocade Communications Systems, ------------
 Inc.*(1) 2,090 11,934 3,528,091
 Ciena Corp.*(1) 340 5,182 ------------
 Cisco Systems, Inc.* 29,400 765,282 IT SERVICES -- 1.7%
 CommScope, Inc.* 310 8,686 Accenture PLC - Class A 20 839
 EchoStar Corp. - Class A* 270 5,476 Alliance Data Systems
 F5 Networks, Inc.* 210 12,917 Corp.*(1) 290 18,557
 Harris Corp.(1) 4,840 229,852 Amdocs, Ltd.* 10,120 304,713
 JDS Uniphase Corp.*(1) 850 10,650 Automatic Data Processing,
 Juniper Networks, Inc.* 28,940 887,879 Inc. 2,770 123,182
 Motorola, Inc.*(1) 8,970 62,969 Broadridge Financial Solutions,
 QUALCOMM, Inc. 48,700 2,044,913 Inc. 930 19,883
 Research in Motion, Ltd.* 18,900 1,397,655 Cognizant Technology Solutions
 Tellabs, Inc. 1,100 8,327 Corp. - Class A* 870 44,353
 ------------ Computer Sciences Corp.* 900 49,041
 5,453,769 Convergys Corp.* 880 10,789
 ------------ DST Systems, Inc. 270 11,192
 COMPUTERS & PERIPHERALS -- 6.3% Fidelity National Information
 Apple, Inc.* 13,250 3,112,822 Services, Inc. 1,137 26,651
 Dell, Inc.*(1) 9,550 143,346 Fiserv, Inc.* 730 37,055
 Diebold, Inc.(1) 473 15,022 Genpact, Ltd.* 400 6,708
 EMC Corp.*(1) 7,970 143,779 Global Payments, Inc. 250 11,388
 Hewlett-Packard Co. 57,490 3,055,594 Hewitt Associates, Inc. -
 International Business Machines Class A*(1) 430 17,105
 Corp. 14,290 1,832,693 Lender Processing Services, Inc. 370 13,968
 Lexmark International, Inc. Mastercard, Inc. - Class A(1) 280 71,120
 - Class A*(1) 530 19,122 NeuStar, Inc. - Class A* 250 6,300
 NCR Corp.*(1) 1,120 15,456 Paychex, Inc.(1) 1,170 35,919
 NetApp, Inc.* 1,170 38,095 SAIC, Inc.*(1) 1,000 17,700
 QLogic Corp.*(1) 490 9,947 The Western Union Co.(1) 2,590 43,926
 SanDisk Corp.*(1) 850 29,436 Total System Services, Inc.(1) 820 12,841
 Seagate Technology*(1) 19,360 353,514



 8


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER LARGE-CAP FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Visa, Inc. - Class A(1) 17,880 $ 1,627,616 Microsoft Corp. 56,160 $ 1,643,803
 ------------ Novell, Inc.* 700 4,193
 2,510,846 Nuance Communications, Inc.*(1) 600 9,984
 ------------ Oracle Corp. 21,260 546,169
 OFFICE ELECTRONICS -- 0.3% Red Hat, Inc.* 730 21,367
 Xerox Corp. 39,740 387,465 Rovi Corp.*(1) 250 9,282
 Zebra Technologies Corp. - Salesforce.com, Inc.*(1) 320 23,824
 Class A* 150 4,440 Sybase, Inc.* 410 19,114
 ------------ Symantec Corp.* 8,820 149,234
 391,905 Synopsys, Inc.* 700 15,659
 ------------ VMware, Inc.* 210 11,193
 SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT -- 1.7% ------------
 Advanced Micro Devices, 2,821,859
 Inc.* 1,550 14,369 ------------
 Altera Corp.(1) 1,330 32,332 TOTAL INFORMATION TECHNOLOGY 26,811,246
 Analog Devices, Inc. 1,520 43,806 ------------
 Applied Materials, Inc.(1) 6,480 87,350 MATERIALS -- 3.2%
 Atmel Corp.* 1,220 6,137 CHEMICALS -- 1.8%
 Broadcom Corp. - Class A 1,730 57,401 Air Products & Chemicals, Inc. 970 71,731
 Cree, Inc.* 330 23,173 Airgas, Inc. 380 24,176
 Cypress Semiconductor Corp.* 430 4,945 Albemarle Corp. 380 16,199
 Fairchild Semiconductor Ashland, Inc. 400 21,108
 International, Inc.* 8,410 89,567 Cabot Corp. 360 10,944
 Integrated Device Technology, Inc.* 690 4,230 Celanese Corp. - Series A 3,520 112,112
 Intel Corp. 62,890 1,399,931 CF Industries Holdings, Inc. 100 9,118
 International Rectifier Corp.* 410 9,389 Cytec Industries, Inc. 180 8,413
 Intersil Holding Corp. - E.I. DuPont de Nemours & Co. 5,660 210,778
 Class A(1) 900 13,284 Eastman Chemical Co. 430 27,382
 KLA-Tencor Corp. 850 26,282 Ecolab, Inc. 1,030 45,269
 Lam Research Corp.*(1) 610 22,765 FMC Corp. 330 19,978
 Linear Technology Corp.(1) 1,370 38,744 Huntsman Corp. 1,470 17,714
 LSI Logic Corp.* 1,800 11,016 International Flavors &
 Marvell Technology Group, Ltd.* 6,830 139,195 Fragrances, Inc. 500 23,835
 Maxim Integrated Products, Inc.(1) 1,990 38,586 Intrepid Potash, Inc.*(1) 100 3,033
 MEMC Electronic Materials, Inc.*(1) 940 14,410 Monsanto Co. 15,310 1,093,440
 Microchip Technology, Inc.(1) 1,240 34,918 Nalco Holding Co. 460 11,192
 Micron Technology, Inc.*(1) 2,370 24,624 PPG Industries, Inc. 1,040 68,016
 National Semiconductor Corp.(1) 1,860 26,877 Praxair, Inc.(1) 1,360 112,880
 Novellus Systems, Inc.*(1) 440 11,000 RPM International, Inc. 760 16,218
 NVIDIA Corp.*(1) 1,980 34,412 Sigma-Aldrich Corp.(1) 490 26,293
 ON Semiconductor Corp.*(1) 1,670 13,360 Terra Industries, Inc.(1) 250 11,440
 PMC-Sierra, Inc.* 550 4,906 The Dow Chemical Co. 5,590 165,296
 Rambus, Inc.*(1) 250 5,463 The Lubrizol Corp. 3,880 355,874
 Silicon Laboratories, Inc.*(1) 80 3,814 The Mosaic Co. 800 48,616
 Teradyne, Inc.*(1) 450 5,027 The Scotts Miracle - Gro
 Texas Instruments, Inc.(1) 6,620 161,991 Co. - Class A 270 12,515
 Varian Semiconductor Equipment The Valspar Corp.(1) 420 12,382
 Associates, Inc.* 190 6,293 Valhi, Inc. 70 1,378
 Xilinx, Inc.(1) 1,400 35,700 ------------
 ------------ 2,557,330
 2,445,297 ------------
 ------------ CONSTRUCTION MATERIALS -- 0.0%
 SOFTWARE -- 1.9% Eagle Materials, Inc.(1) 210 5,573
 Activision Blizzard, Inc.(1) 2,070 24,964 Martin Marietta Materials Corp.(1) 190 15,875
 Adobe Systems, Inc.* 1,980 70,032 Vulcan Materials Co.(1) 570 26,927
 ANSYS, Inc.* 280 12,079 ------------
 Autodesk, Inc.*(1) 930 27,361 48,375
 BMC Software, Inc.* 750 28,500 ------------
 CA, Inc. 2,080 48,818 CONTAINERS & PACKAGING -- 0.3%
 Cadence Design Systems, Inc.* 1,210 8,059 AptarGroup, Inc. 180 7,083
 Citrix Systems, Inc.* 630 29,906 Ball Corp. 450 24,021
 Compuware Corp.* 1,080 9,072 Bemis Co., Inc. 440 12,637
 Electronic Arts, Inc.* 1,160 21,646 Crown Holdings, Inc.* 5,640 152,055
 FactSet Research Systems, Inc.(1) 140 10,272 Greif, Inc. - Class A 270 14,828
 Intuit, Inc.*(1) 1,340 46,016 Owens-Illinois, Inc.*(1) 1,980 70,369
 McAfee, Inc.* 600 24,078 Packaging Corp. of America 450 11,075
 MICROS Systems, Inc.* 220 7,234 Pactiv Corp.* 530 13,345
 Sealed Air Corp. 900 18,972



 9


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER LARGE-CAP FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Sonoco Products Co.(1) 610 $ 18,782 UTILITIES -- 2.5%
 Temple-Inland, Inc.(1) 7,270 148,526 ELECTRIC UTILITIES -- 1.0%
 ------------ Allegheny Energy, Inc.(1) 760 $ 17,480
 491,693 American Electric Power Co., Inc. 2,880 98,438
 ------------ DPL, Inc. 530 14,411
 METALS & MINING -- 0.8% Duke Energy Corp. 8,480 138,394
 AK Steel Holding Corp. 470 10,744 Edison International 1,820 62,189
 Alcoa, Inc.(1) 3,810 54,254 Entergy Corp. 1,070 87,045
 Allegheny Technologies, Inc.(1) 490 26,455 Exelon Corp. 7,780 340,842
 Carpenter Technology Corp.(1) 380 13,908 FirstEnergy Corp.(1) 1,820 71,144
 Cliffs Natural Resources, Inc.(1) 550 39,023 FPL Group, Inc. 2,200 106,326
 Commercial Metals Co. 870 13,102 Great Plains Energy, Inc. 720 13,370
 Compass Minerals International, Hawaiian Electric Industries,
 Inc. 200 16,046 Inc.(1) 750 16,838
 Freeport-McMoRan Copper & ITC Holdings Corp. 320 17,600
 Gold, Inc.(1) 3,630 303,250 Northeast Utilities 910 25,152
 Newmont Mining Corp. 1,820 92,693 NV Energy, Inc. 1,380 17,015
 Nucor Corp.(1) 2,050 93,029 Pepco Holdings, Inc. 1,350 23,153
 Reliance Steel & Aluminum Co. 350 17,231 Pinnacle West Capital Corp. 710 26,788
 Royal Gold, Inc. 100 4,621 PPL Corp. 2,100 58,191
 Schnitzer Steel Industries, Progress Energy, Inc. 1,820 71,635
 Inc. - Class A 140 7,354 Southern Co. 4,910 162,816
 Southern Copper Corp. 1,980 62,707 Westar Energy, Inc. 560 12,488
 Steel Dynamics, Inc. 1,200 20,964 ------------
 Titanium Metals Corp.* 651 10,800 1,381,315
 United States Steel Corp.(1) 720 45,734 ------------
 Walter Industries, Inc.(1) 3,350 309,104 GAS UTILITIES -- 0.3%
 ------------ AGL Resources, Inc. 420 16,233
 1,141,019 Atmos Energy Corp. 410 11,714
 ------------ Energen Corp. 3,530 164,251
 PAPER & FOREST PRODUCTS -- 0.3% EQT Corp. 550 22,550
 International Paper Co. 12,820 315,500 National Fuel Gas Co. 310 15,670
 MeadWestvaco Corp.(1) 680 17,374 ONEOK, Inc. 480 21,912
 Weyerhaeuser Co. 590 26,710 Questar Corp. 600 25,920
 ------------ UGI Corp. 6,690 177,553
 359,584 ------------
 ------------ 455,803
 TOTAL MATERIALS 4,598,001 ------------
 ------------ INDEPENDENT POWER PRODUCERS & ENERGY TRADERS -- 0.4%
 TELECOMMUNICATION SERVICES -- 2.0% Calpine Corp.* 950 11,295
 DIVERSIFIED TELECOMMUNICATION SERVICES -- 1.8% Constellation Energy Group, Inc. 12,280 431,151
 AT&T, Inc. 60,320 1,558,669 Dynegy, Inc. - Class A* 4,730 5,960
 CenturyTel, Inc. 2,490 88,295 Mirant Corp.* 510 5,539
 Frontier Communications Corp. 3,200 23,808 NRG Energy, Inc.* 5,800 121,220
 Level 3 Communications, Inc.* 4,020 6,512 Ormat Technologies, Inc.(1) 100 2,814
 Qwest Communications RRI Energy, Inc.* 1,740 6,420
 International, Inc.(1) 16,110 84,094 The AES Corp.* 2,810 30,910
 TW Telecom, Inc.* 400 7,260 ------------
 Verizon Communications, Inc. 29,220 906,405 615,309
 Windstream Corp.(1) 4,000 43,560 ------------
 ------------ MULTI-UTILITIES -- 0.8%
 2,718,603 Alliant Energy Corp. 600 19,956
 ------------ Ameren Corp. 1,450 37,816
 WIRELESS TELECOMMUNICATION SERVICES -- 0.2% CenterPoint Energy, Inc. 2,600 37,336
 American Tower Corp. - Class A* 1,310 55,819 CMS Energy Corp.(1) 770 11,904
 Crown Castle International Corp.* 940 35,936 Consolidated Edison, Inc. 1,640 73,046
 Leap Wireless International, Inc.* 490 8,016 Dominion Resources, Inc. 3,510 144,296
 MetroPCS Communications, Inc.*(1) 1,330 9,416 DTE Energy Co. 1,000 44,600
 NII Holdings, Inc.* 490 20,414 Integrys Energy Group,
 SBA Communications Corp. - Class A* 410 14,789 Inc.(1) 520 24,638
 Sprint Nextel Corp.* 21,290 80,902 MDU Resources Group, Inc. 980 21,148
 Telephone & Data Systems, Inc. 430 14,556 NiSource, Inc. 20,700 327,060
 U.S. Cellular Corp.* 90 3,724 NSTAR 620 21,960
 ------------ OGE Energy Corp. 410 15,965
 243,572 PG&E Corp. 1,920 81,446
 ------------ Public Service Enterprise
 TOTAL TELECOMMUNICATION SERVICES 2,962,175 Group, Inc. 5,500 162,360
 ------------ SCANA Corp. 840 31,576



 10


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER LARGE-CAP FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE
 ------ -----

 Sempra Energy 1,150 $ 57,385
 TECO Energy, Inc.(1) 1,230 19,545
 Vectren Corp. 480 11,866
 Wisconsin Energy Corp. 520 25,693
 Xcel Energy, Inc. 2,840 60,208
 ------------
 1,229,804
 ------------
 WATER UTILITIES -- 0.0%
 American Water Works Co., Inc. 550 11,968
 Aqua America, Inc. 300 5,271
 ------------
 17,239
 ------------
 TOTAL UTILITIES 3,699,470
 ------------
 TOTAL COMMON STOCK
 (Cost $106,770,301) 133,189,855
 ------------
RIGHTS -- 0.0%
 Fresenius Kabi Pharmaceuticals
 Holding, Inc.*
 (Cost $0) 132 20
 ------------
EXCHANGE-TRADED FUNDS -- 7.6%
 iShares Russell 1000 Growth
 Index Fund 210,000 10,909,500
 iShares Russell 1000 Index Fund(1) 3,900 252,018
 ------------
 TOTAL EXCHANGE-TRADED FUNDS
 (Cost $11,194,027) 11,161,518
 ------------
SHORT TERM INVESTMENTS -- 0.7%
 BlackRock Liquidity Funds TempFund
 Portfolio - Institutional Series
 (Cost $964,069) 964,069 964,069
 ------------
SHORT-TERM INVESTMENT HELD AS COLLATERAL FOR LOANED
 SECURITIES -- 19.6%
 Institutional Money Market Trust
 (Cost $28,652,973) 28,652,973 28,652,973
 ------------
TOTAL INVESTMENTS -- 119.1%
 (Cost $147,581,370)+,(2) $173,968,435
LIABILITIES IN EXCESS OF OTHER ASSETS -- (19.1)% (27,899,756)
 ------------
NET ASSETS -- 100.0% $146,068,679
 ============

* Non-income producing security.
+ The cost for Federal income tax purposes is $150,832,163. At
 March 31, 2010, net unrealized appreciation was $23,136,272.
 This consisted of aggregate gross unrealized appreciation
 for all securities for which there was an excess of market
 value over tax cost of $23,980,815 and aggregate gross
 unrealized depreciation for all securities for which there
 was an excess of tax cost over market value of $844,543.
(1) Security partially or fully on loan.
(2) At March 31, 2010, the market value of securities on loan
 for the Fund was $9,422,710.



 11


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER LARGE-CAP FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)

The following table provides a summary of inputs used to value the Fund's net assets as of March 31, 2010:

 LEVEL 2 - LEVEL 3 -
 TOTAL VALUE AT SIGNIFICANT SIGNIFICANT
 MARCH 31, LEVEL 1 - OBSERVABLE UNOBSERVABLE
 2010 QUOTED PRICES INPUTS INPUTS
 --------------------------------------------------------------------
INVESTMENTS IN SECURITIES:
Common Stocks $ 133,189,855 $ 133,189,855 $ -- $ --
Exchange-Traded Funds 11,161,518 11,161,518 -- --
Rights 20 20 -- --
Short-Term Investments 29,617,042 29,617,042 -- --
 --------------------------------------------------------------------
Total $ 173,968,435 $ 173,968,435 $ -- $ --
 --------------------------------------------------------------------


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
SMALL-CAP STRATEGY FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)
 (Showing Percentage of Net Assets)
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
COMMON STOCK -- 99.3% Ameristar Casinos, Inc.(1) 1,985 $ 36,167
 CONSUMER DISCRETIONARY -- 14.9% Bally Technologies, Inc.*(1) 3,806 154,295
 AUTO COMPONENTS -- 0.9% Benihana, Inc. - Class A*(1) 380 2,470
 American Axle & Manufacturing BJ's Restaurants, Inc.*(1) 1,520 35,416
 Holdings, Inc.*(1) 4,345 $ 43,363 Bluegreen Corp.* 1,037 3,391
 Amerigon, Inc.* 1,907 19,280 Bob Evans Farms, Inc. 2,206 68,187
 ArvinMeritor, Inc.*(1) 5,150 68,752 Buffalo Wild Wings, Inc.*(1) 1,072 51,574
 China Automotive Systems, Inc.* 550 12,710 California Pizza Kitchen, Inc.* 1,437 24,127
 Cooper Tire & Rubber Co. 4,126 78,477 CEC Entertainment, Inc.* 1,778 67,724
 Dana Holding Corp.* 9,230 109,652 Churchill Downs, Inc.(1) 822 30,825
 Dorman Products, Inc.* 796 15,116 CKE Restaurants, Inc. 3,197 35,391
 Drew Industries, Inc.* 1,034 22,769 Cracker Barrel Old Country Store,
 Exide Technologies*(1) 4,272 24,564 Inc. 1,672 77,547
 Fuel Systems Solutions, Inc.*(1) 856 27,358 Denny's Corp.* 7,910 30,374
 Hawk Corp. - Class A* 320 6,240 DineEquity, Inc.* 1,192 47,120
 Modine Manufacturing Co.*(1) 2,995 33,664 Domino's Pizza, Inc.*(1) 2,424 33,063
 Raser Technologies, Inc.*(1) 3,873 3,873 Dover Downs Gaming &
 Spartan Motors, Inc. 3,109 17,410 Entertainment, Inc. 744 2,946
 Standard Motor Products, Inc. 1,590 15,773 Einstein Noah Restaurant Group,
 Stoneridge, Inc.* 488 4,826 Inc.* 704 8,554
 Superior Industries International, Gaylord Entertainment Co.*(1) 2,604 76,271
 Inc.(1) 1,286 20,679 Great Wolf Resorts, Inc.* 310 986
 Tenneco, Inc.* 3,850 91,052 Interval Leisure Group, Inc.* 2,940 42,806
 Wonder Auto Technology, Inc.*(1) 1,244 13,162 Isle of Capri Casinos, Inc.*(1) 941 7,321
 ------------ Jack in the Box, Inc.* 3,916 92,222
 628,720 Krispy Kreme Doughnuts, Inc.* 3,530 14,191
 ------------ Lakes Entertainment, Inc.* 110 253
 AUTOMOBILES -- 0.1% Landry's Restaurants, Inc.*(1) 205 3,674
 Winnebago Industries, Inc.*(1) 2,045 29,877 Life Time Fitness, Inc.*(1) 2,737 76,910
 ------------ Luby's, Inc.* 2,591 10,209
 DISTRIBUTORS -- 0.0% McCormick & Schmick's Seafood
 Audiovox Corp. - Class A* 1,628 12,666 Restaurants, Inc.* 1,200 12,084
 Core-Mark Holding Co., Inc.* 493 15,091 Monarch Casino & Resort, Inc.* 928 7,925
 ------------ Morgans Hotel Group Co.* 2,433 15,596
 27,757 Multimedia Games, Inc.* 880 3,432
 ------------ O'Charley's, Inc.*(1) 1,730 15,466
 DIVERSIFIED CONSUMER SERVICES -- 1.3% Orient-Express Hotels, Ltd. -
 American Public Education, Inc.* 1,275 59,415 Class A*(1) 5,860 83,095
 Bridgepoint Education, Inc.* 890 21,876 Papa John's International, Inc.*(1) 1,356 34,863
 Capella Education Co.* 915 84,949 Peet's Coffee & Tea, Inc.* 620 24,583
 ChinaCast Education Corp.* 1,440 10,526 PF Chang's China Bistro, Inc.* 1,571 69,328
 Coinstar, Inc.*(1) 2,108 68,510 Pinnacle Entertainment, Inc.* 3,427 33,379
 Corinthian Colleges, Inc.*(1) 5,751 101,160 Red Robin Gourmet Burgers, Inc.*(1) 992 24,245
 Grand Canyon Education, Inc.* 1,164 30,427 Ruby Tuesday, Inc.* 4,640 49,045
 Jackson Hewitt Tax Service, Ruth's Hospitality Group, Inc.* 2,410 12,773
 Inc.*(1) 2,188 4,376 Shuffle Master, Inc.* 4,370 35,790
 K12, Inc.*(1) 1,490 33,093 Sonic Corp.*(1) 4,565 50,443
 Learning Tree International, Inc.* 720 10,130 Speedway Motorsports, Inc.(1) 441 6,884
 Lincoln Educational Services Corp.* 538 13,611 Texas Roadhouse, Inc.*(1) 3,965 55,074
 Mac-Gray Corp. 380 4,290 The Cheesecake Factory, Inc.*(1) 4,046 109,485
 Matthews International Corp. - The Marcus Corp. 1,587 20,615
 Class A(1) 2,392 84,916 The Steak N Shake Co.* 70 26,689
 Pre-Paid Legal Services, Inc.*(1) 535 20,250 Town Sports International
 Princeton Review, Inc.*(1) 850 2,967 Holdings, Inc.* 1,220 4,770
 Regis Corp.(1) 3,528 65,903 Universal Travel Group* 540 5,351
 Sotheby's Holdings, Inc.(1) 4,662 144,942 Vail Resorts, Inc.*(1) 2,000 80,180
 Steiner Leisure, Ltd.* 1,125 49,860 Youbet.com, Inc.* 850 2,499
 Stewart Enterprises, Inc. - Class ------------
 A(1) 6,239 38,994 1,842,904
 Universal Technical Institute, ------------
 Inc.* 1,561 35,622 HOUSEHOLD DURABLES -- 1.3%
 ------------ American Greetings Corp. - Class
 885,817 A(1) 2,437 50,787
 ------------
 HOTELS, RESTAURANTS & LEISURE -- 2.6%
 AFC Enterprises, Inc.* 1,165 12,500
 Ambassadors Group, Inc. 1,158 12,796



 1


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
SMALL-CAP STRATEGY FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Beazer Homes USA, Inc.*(1) 4,870 $ 22,110 CKX, Inc.* 4,616 $ 28,296
 Blyth, Inc. 210 6,563 Dolan Media Co.* 2,109 22,925
 Brookfield Homes Corp.* 1,560 13,634 E.W. Scripps Co. - Class A* 2,190 18,506
 Cavco Industries, Inc.* 405 13,827 Fisher Communications, Inc.* 627 8,841
 CSS Industries, Inc. 658 13,226 Global Sources, Ltd.* 868 5,651
 Ethan Allen Interiors, Inc.(1) 1,636 33,751 Harte-Hanks, Inc. 3,036 39,043
 Furniture Brands International, Journal Communications, Inc. -
 Inc.*(1) 3,380 21,733 Class A* 3,820 16,044
 Helen of Troy, Ltd.* 1,973 51,416 Knology, Inc.* 2,369 31,839
 Hooker Furniture Corp. 861 13,845 LIN TV Corp. - Class A* 870 5,003
 Hovnanian Enterprises, Inc. - Live Nation Entertainment, Inc.*(1) 9,246 134,067
 Class A*(1) 3,193 13,890 Lodgenet Entertainment Corp.* 890 6,203
 iRobot Corp.* 1,170 17,737 Martha Stewart Living Omnimedia,
 La-Z-Boy, Inc.*(1) 3,826 47,978 Inc. - Class A* 1,923 10,730
 M/I Homes, Inc.* 1,164 17,053 Mediacom Communications Corp. -
 Meritage Homes Corp.* 1,902 39,942 Class A* 3,685 21,926
 National Presto Industries, Inc. 382 45,424 National CineMedia, Inc. 2,592 44,738
 Ryland Group, Inc. 2,981 66,894 Outdoor Channel Holdings, Inc.* 1,170 7,710
 Sealy Corp.* 4,055 14,192 PRIMEDIA, Inc. 1,510 5,194
 Skyline Corp. 539 10,025 RCN Corp.* 2,648 39,932
 Standard Pacific Corp.*(1) 4,740 21,425 Reading International, Inc. -
 Tempur-Pedic International, Inc.* 5,078 153,152 Class A* 470 2,007
 Tupperware Brands Corp. 4,409 212,602 Rentrak Corp.* 380 8,189
 Universal Electronics, Inc.* 898 20,061 Scholastic Corp. 1,536 43,008
 ------------ Sinclair Broadcast Group, Inc. -
 921,267 Class A* 3,568 18,125
 ------------ Valassis Communications, Inc.* 3,350 93,231
 INTERNET & CATALOG RETAIL -- 0.5% World Wrestling Entertainment,
 1-800-FLOWERS.COM, Inc. - Class A* 3,112 7,811 Inc. - Class A 1,177 20,362
 Blue Nile, Inc.* 942 51,829 ------------
 Drugstore.com, Inc.*(1) 4,810 17,172 809,464
 Gaiam, Inc. - Class A 1,143 9,487 ------------
 HSN, Inc.* 2,580 75,955 MULTILINE RETAIL -- 0.4%
 NutriSystem, Inc.(1) 2,409 42,904 99 Cents Only Stores* 3,510 57,213
 Orbitz Worldwide, Inc.* 3,179 22,603 Dillard's, Inc. - Class A 3,302 77,927
 Overstock.com, Inc.*(1) 1,162 18,883 Fred's, Inc. - Class A(1) 1,802 21,588
 PetMed Express, Inc.(1) 2,107 46,712 Retail Ventures, Inc.* 2,100 19,971
 Shutterfly, Inc.* 1,602 38,592 Saks, Inc.*(1) 9,290 79,894
 Vitacost.com, Inc.* 900 10,845 Tuesday Morning Corp.* 1,800 11,862
 ------------ ------------
 342,793 268,455
 ------------ ------------
 LEISURE EQUIPMENT & PRODUCTS -- 0.7% SPECIALTY RETAIL -- 3.6%
 Brunswick Corp.(1) 6,101 97,433 America's Car-Mart, Inc.*(1) 750 18,090
 Callaway Golf Co.(1) 3,621 31,937 AnnTaylor Stores Corp.* 4,370 90,459
 Eastman Kodak Co.*(1) 17,920 103,757 Asbury Automotive Group, Inc.* 2,524 33,569
 JAKKS Pacific, Inc.*(1) 1,238 16,156 Bebe Stores, Inc.(1) 2,106 18,743
 Leapfrog Enterprises, Inc.* 2,987 19,565 Big 5 Sporting Goods Corp. 1,932 29,405
 Marine Products Corp.* 1,100 6,600 Borders Group, Inc.* 560 963
 Polaris Industries, Inc.(1) 2,097 107,282 Brown Shoe Co., Inc. 2,505 38,777
 Pool Corp.(1) 3,205 72,561 Build-A-Bear Workshop, Inc.* 1,721 12,254
 RC2 Corp.*(1) 1,462 21,886 Cabela's, Inc.*(1) 3,094 54,114
 Smith & Wesson Holdings Corp.* 1,877 7,095 Charming Shoppes, Inc.* 7,360 40,186
 Sport Supply Group, Inc. 140 1,882 Christopher & Banks Corp. 2,415 19,320
 Steinway Musical Instruments, Inc.* 568 10,695 Citi Trends, Inc.* 1,246 40,420
 Sturm, Ruger & Co., Inc.(1) 1,720 20,623 Coldwater Creek, Inc.*(1) 3,900 27,066
 ------------ Collective Brands, Inc.* 4,397 99,988
 517,472 Conn's, Inc.* 861 6,742
 ------------ Destination Maternity Corp.* 480 12,317
 MEDIA -- 1.2% Dress Barn, Inc.* 4,127 107,962
 Arbitron, Inc. 1,634 43,562 DSW, Inc. - Class A*(1) 1,097 28,006
 Ascent Media Corp. - Class A* 1,040 28,340 Genesco, Inc.* 1,731 53,678
 Belo Corp. - Class A 7,040 48,013 Group 1 Automotive, Inc.* 1,444 46,006
 Carmike Cinemas, Inc.* 1,090 15,118 Haverty Furniture Cos., Inc. 977 15,945
 Cinemark Holdings, Inc. 2,337 42,861



 2


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
SMALL-CAP STRATEGY FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 hhgregg, Inc.*(1) 1,095 $ 27,638 Lululemon Athletica, Inc.* 2,763 $ 114,664
 Hibbett Sports, Inc.* 1,954 49,983 Maidenform Brands, Inc.* 1,289 28,165
 Hot Topic, Inc.* 3,051 19,832 Movado Group, Inc.*(1) 565 6,373
 J. Crew Group, Inc.*(1) 3,486 160,007 Oxford Industries, Inc. 870 17,687
 Jo-Ann Stores, Inc.* 1,862 78,167 Perry Ellis International, Inc.* 647 14,655
 Jos. A. Bank Clothiers, Inc.*(1) 1,190 65,034 Quiksilver, Inc.* 8,130 38,455
 Kirkland's, Inc.* 690 14,490 Skechers U.S.A., Inc. - Class A* 2,143 77,834
 Lithia Motors, Inc. - Class A*(1) 1,680 10,752 Steven Madden, Ltd.* 996 48,605
 Lumber Liquidators Holdings, Inc.* 991 26,430 The Timberland Co. - Class A* 2,915 62,206
 Midas, Inc.* 1,154 13,017 The Warnaco Group, Inc.* 3,111 148,426
 Monro Muffler Brake, Inc.(1) 888 31,755 True Religion Apparel, Inc.*(1) 1,867 56,682
 New York & Co., Inc.* 2,080 9,963 Under Armour, Inc.- Class A*(1) 2,073 60,967
 OfficeMax, Inc.* 5,550 91,131 Unifi, Inc.* 3,200 11,648
 Pacific Sunwear of California, Unifirst Corp. 838 43,157
 Inc.* 4,290 22,780 Volcom, Inc.*(1) 1,133 22,116
 Pier 1 Imports, Inc.*(1) 7,810 49,750 Weyco Group, Inc. 1,011 23,779
 Rent-A-Center, Inc.* 4,864 115,034 Wolverine World Wide, Inc.(1) 3,236 94,362
 Rex Stores Corp.* 790 12,798 ------------
 Rue21, Inc.* 320 11,094 1,642,789
 Sally Beauty Holdings, Inc.* 6,603 58,899 ------------
 Shoe Carnival, Inc.* 369 8,435 TOTAL CONSUMER DISCRETIONARY 10,432,893
 Sonic Automotive, Inc. - Class A* 2,328 25,608 ------------
 Stage Stores, Inc. 2,898 44,600 CONSUMER STAPLES -- 3.0%
 Stein Mart, Inc.* 1,090 9,843 BEVERAGES -- 0.2%
 Syms Corp.* 760 7,570 Coca-Cola Bottling Co.
 Systemax, Inc.(1) 442 9,609 Consolidated(1) 251 14,724
 Talbots, Inc.*(1) 2,080 26,957 Heckmann Corp.* 6,140 35,612
 The Buckle, Inc.(1) 1,835 67,455 National Beverage Corp. 1,170 13,010
 The Cato Corp. - Class A 1,653 35,440 The Boston Beer Co., Inc. - Class
 The Children's Place Retail A* 725 37,889
 Stores, Inc.*(1) 1,418 63,172 ------------
 The Finish Line, Inc. - Class A(1) 3,054 49,841 101,235
 The Gymboree Corp.*(1) 1,945 100,420 ------------
 The Men's Wearhouse, Inc.(1) 3,579 85,681 FOOD & STAPLES RETAILING -- 0.8%
 The Pep Boys - Manny, Moe & Jack 3,983 40,029 Arden Group, Inc. - Class A 53 5,633
 The Wetseal, Inc. - Class A* 4,736 22,543 Casey's General Stores, Inc.(1) 3,286 103,180
 Tractor Supply Co. 2,484 144,196 Diedrich Coffee, Inc.* 110 3,828
 Ulta Salon Cosmetics & Fragrance, Great Atlantic & Pacific Tea Co.,
 Inc.* 2,051 46,394 Inc.*(1) 1,420 10,891
 Vitamin Shoppe, Inc.* 1,160 26,042 Ingles Markets, Inc. - Class A 995 14,955
 West Marine, Inc.* 370 4,015 Nash-Finch Co. 498 16,758
 Zale Corp.*(1) 2,342 6,417 PriceSmart, Inc.(1) 1,146 26,645
 Zumiez, Inc.* 1,403 28,747 Ruddick Corp.(1) 2,840 89,858
 ------------ Spartan Stores, Inc. 1,679 24,211
 2,515,578 Susser Holdings Corp.* 831 7,022
 ------------ The Andersons, Inc. 1,415 47,374
 TEXTILES, APPAREL & LUXURY GOODS -- 2.3% The Pantry, Inc.* 1,660 20,733
 American Apparel, Inc.*(1) 2,943 8,917 United Natural Foods, Inc.* 2,887 81,211
 Carter's, Inc.* 3,621 109,173 Village Super Market - Class A 650 18,220
 Cherokee, Inc.(1) 628 11,304 Weis Markets, Inc. 538 19,562
 Columbia Sportswear Co. 603 31,676 Winn-Dixie Store, Inc.* 3,801 47,474
 Crocs, Inc.*(1) 6,050 53,058 ------------
 Deckers Outdoor Corp.* 877 121,026 537,555
 Fossil, Inc.* 3,447 130,090 ------------
 Fuqi International, Inc.*(1) 830 9,047 FOOD PRODUCTS -- 1.3%
 G-III Apparel Group, Ltd.* 1,177 32,438 AgFeed Industries, Inc.*(1) 2,450 10,755
 Iconix Brand Group, Inc.*(1) 4,945 75,955 Alico, Inc. 220 5,555
 Jones Apparel Group, Inc. 5,810 110,506 American Dairy, Inc.*(1) 738 14,133
 K-Swiss, Inc. - Class A* 2,058 21,527 American Italian Pasta Co. - Class
 Kenneth Cole Productions, Inc. - A*(1) 1,300 50,531
 Class A* 850 10,888 B&G Foods, Inc. - Class A 1,866 19,556
 Liz Claiborne, Inc.*(1) 6,380 47,403 Cal-Maine Foods, Inc.(1) 792 26,841
 Calavo Growers, Inc.(1) 677 12,348
 Chiquita Brands International,
 Inc.* 2,611 41,071
 Darling International, Inc.* 5,437 48,715
 Diamond Foods, Inc. 945 39,728
 Dole Food Co., Inc.* 2,000 23,700



 3


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
SMALL-CAP STRATEGY FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Farmer Brothers Co. 388 $ 7,271 Cal Dive International, Inc.* 1,939 $ 14,213
 Fresh Del Monte Produce, Inc.* 2,439 49,390 CARBO Ceramics, Inc.(1) 1,298 80,917
 Griffin Land & Nurseries, Inc. 246 7,146 Complete Production Services, Inc.* 4,346 50,196
 Harbinger Group, Inc.* 1,670 11,306 Dawson Geophysical Co.* 663 19,386
 HQ Sustainable Maritime Dril-Quip, Inc.* 2,068 125,817
 Industries, Inc.* 735 4,410 ENGlobal, Corp.* 2,143 5,936
 Imperial Sugar Co. 1,036 16,068 Geokinetics, Inc.* 690 4,975
 J&J Snack Foods Corp. 1,014 44,079 Global Industries, Ltd.* 6,900 44,298
 Lancaster Colony Corp.(1) 1,392 82,072 Gulf Island Fabrication, Inc. 813 17,683
 Lance, Inc. 2,081 48,134 Gulfmark Offshore, Inc. - Class A* 1,221 32,418
 Omega Protein Corp.* 46 264 Hercules Offshore, Inc.* 7,990 34,437
 Overhill Farms, Inc.* 960 5,597 Hornbeck Offshore Services, Inc.* 1,988 36,917
 Sanderson Farms, Inc. 1,271 68,138 ION Geophysical Corp.* 6,197 30,489
 Seneca Foods Corp. - Class A* 580 16,890 Key Energy Services, Inc.* 8,850 84,517
 Smart Balance, Inc.* 4,149 26,886 Lufkin Industries, Inc.(1) 1,010 79,941
 Synutra International, Inc.*(1) 1,379 31,179 Matrix Service Co.* 1,633 17,571
 The Hain Celestial Group, Inc.*(1) 2,963 51,408 Natural Gas Services Group, Inc.* 594 9,427
 Tootsie Roll Industries, Inc.(1) 2,021 54,631 Newpark Resources, Inc.* 7,422 38,965
 TreeHouse Foods, Inc.*(1) 1,932 84,757 Oyo Geospace Corp.* 291 13,913
 Zhongpin, Inc.* 1,294 16,434 Parker Drilling Co.* 9,284 45,770
 ------------ Petroleum Helicopters, Inc.* 1,015 21,498
 918,993 Pioneer Drilling Co.* 4,058 28,568
 ------------ RPC, Inc. 1,859 20,691
 HOUSEHOLD PRODUCTS -- 0.1% Sulphco, Inc.*(1) 1,280 371
 Central Garden & Pet Co. - Class A* 3,354 30,723 Superior Well Services, Inc.*(1) 1,199 16,043
 Oil-Dri Corp. of America 710 13,724 T-3 Energy Services, Inc.*(1) 803 19,722
 Orchids Paper Products Co.* 190 3,126 Tetra Technologies, Inc.* 5,140 62,811
 WD-40 Co.(1) 864 28,365 Union Drilling, Inc.* 50 308
 ------------ Vantage Drilling Co.* 8,160 12,077
 75,938 Willbros Group, Inc.*(1) 2,478 29,761
 ------------ ------------
 PERSONAL PRODUCTS -- 0.4% 1,152,461
 American Oriental Bioengineering, ------------
 Inc.* 3,929 16,030 OIL, GAS & CONSUMABLE FUELS -- 3.3%
 China Sky One Medical, Inc.* 599 9,410 Alon USA Energy, Inc.(1) 1,174 8,512
 China-Biotics, Inc.*(1) 860 15,403 Apco Oil and Gas International,
 Elizabeth Arden, Inc.* 1,987 35,766 Inc. 600 16,236
 International Parfums, Inc. 1,208 17,903 Approach Resources, Inc.* 780 7,082
 Mannatech, Inc. 1,390 4,643 Arena Resources, Inc.* 2,830 94,522
 Medifast, Inc.*(1) 990 24,879 Atlas Energy, Inc.* 4,668 145,268
 Nu Skin Enterprises, Inc. - Class A 3,388 98,591 ATP Oil & Gas Corp.*(1) 2,932 55,151
 Nutraceutical International Corp.* 460 6,872 Berry Petroleum Co. - Class A 3,384 95,293
 Prestige Brands Holdings, Inc.* 2,497 22,473 Bill Barret Corp.* 2,685 82,456
 Revlon, Inc. - Class A*(1) 920 13,662 BPZ Resources, Inc.*(1) 6,873 50,517
 Schiff Nutrition International, Brigham Exploration Co.* 6,703 106,913
 Inc. 195 1,595 Carrizo Oil & Gas, Inc.*(1) 1,706 39,153
 The Female Health Co. 1,630 11,687 Cheniere Energy, Inc.* 3,527 10,898
 USANA Health Sciences, Inc.*(1) 355 11,150 Clayton Williams Energy, Inc.* 483 16,895
 ------------ Clean Energy Fuels Corp.* 2,769 63,078
 290,064 Cloud Peak Energy, Inc.* 990 16,474
 ------------ Contango Oil & Gas Co.* 749 38,311
 TOBACCO -- 0.2% Crosstex Energy, Inc.* 2,043 17,754
 Alliance One International, CVR Energy, Inc.* 2,326 20,353
 Inc.*(1) 6,152 31,313 Delek US Holdings, Inc.(1) 1,412 10,279
 Star Scientific, Inc.*(1) 5,009 12,773 Delta Petroleum Corp.*(1) 12,103 17,065
 Universal Corp.(1) 1,652 87,044 DHT Maritime, Inc. 2,873 11,262
 Vector Group, Ltd.(1) 2,609 40,257 Endeavour International Corp.* 3,950 5,017
 ------------ Evergreen Energy, Inc.*(1) 19,060 3,431
 171,387 FX Energy, Inc.* 2,273 7,796
 ------------ General Maritime Corp.(1) 4,533 32,592
 TOTAL CONSUMER STAPLES 2,095,172 Georesources, Inc.* 564 8,612
 ------------ GMX Resources, Inc.*(1) 1,310 10,768
 ENERGY -- 5.0% Golar LNG, Ltd.* 2,458 28,759
 ENERGY EQUIPMENT & SERVICES -- 1.7%
 Allis-Chalmers Energy, Inc.* 4,474 15,838
 Basic Energy Services, Inc.* 1,782 13,739
 Bolt Technology Corp.* 757 8,562
 Boots & Coots, Inc.* 3,870 9,404
 Bristow Group, Inc.* 2,511 94,740
 Bronco Drilling Co., Inc.* 2,243 10,542



 4


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
SMALL-CAP STRATEGY FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Goodrich Petroleum Corp.*(1) 1,255 $ 19,628 E*TRADE Group, Inc.*(1) 103,890 $ 171,418
 Gran Tierra Energy, Inc.* 14,612 86,211 Epoch Holding Corp. 940 10,613
 Green Plains Renewable Energy, Evercore Partners, Inc. - Class
 Inc.*(1) 230 3,282 A(1) 873 26,190
 Gulfport Energy Corp.* 2,130 23,941 FBR Capital Markets Corp.* 160 728
 Harvest Natural Resources, Inc.* 2,549 19,194 Fifth Street Finance Corp. 2,219 25,763
 International Coal Group, Inc.* 8,070 36,880 GAMCO Investors, Inc. - Class A 382 17,381
 Isramco, Inc.* 40 2,622 GFI Group, Inc. 5,181 29,946
 James River Coal Co.*(1) 1,482 23,564 Gladstone Capital Corp. 1,702 20,084
 Knightsbridge Tankers, Ltd. 863 14,619 Gladstone Investment Corp. 1,707 10,208
 McMoRan Exploration Co.*(1) 5,118 74,876 Harris & Harris Group, Inc.* 2,760 12,724
 Nordic American Tanker Shipping 3,288 99,528 Hercules Technology Growth
 Northern Oil And Gas, Inc.* 2,720 43,112 Capital, Inc. 3,006 31,833
 Oilsands Quest, Inc.* 18,680 13,808 International Assets Holding
 Panhandle Oil and Gas, Inc. - Corp.*(1) 1,026 15,359
 Class A 586 13,847 JMP Group, Inc. 900 7,650
 Patriot Coal Corp.*(1) 4,970 101,686 Kayne Anderson Energy Development
 Penn Virginia Corp. 3,184 78,008 Co. 257 4,153
 Petroleum Development Corp.* 1,469 34,037 KBW, Inc.*(1) 2,523 67,869
 Petroquest Energy, Inc.* 2,773 13,948 Knight Capital Group, Inc. - Class
 Rex Energy Corp.* 2,125 24,204 A* 6,192 94,428
 Rosetta Resources, Inc.*(1) 3,678 86,617 Kohlberg Capital Corp.(1) 937 5,303
 Ship Finance International, Ltd.(1) 3,214 57,075 LaBranche & Co., Inc.* 4,585 24,117
 Southern Union Co. 1 24 Main Street Capital Corp. 750 11,707
 Stone Energy Corp.* 2,724 48,351 MCG Capital Corp.* 4,890 25,477
 Swift Energy Co.* 2,546 78,264 MF Global Holdings, Ltd.*(1) 6,480 52,294
 Syntroleum Corp.* 3,350 7,102 MVC Capital, Inc. 1,994 27,059
 Teekay Tankers, Ltd.- Class A(1) 948 11,916 NGP Capital Resources Co. 1,789 15,242
 Toreador Resources Corp.* 2,589 21,178 Oppenheimer Holdings, Inc. - Class
 Uranerz Energy Corp.* 6,710 12,481 A 870 22,194
 Uranium Energy Corp.*(1) 5,180 16,680 optionsXpress Holdings, Inc.* 2,549 41,523
 USEC, Inc.*(1) 7,315 42,208 PennantPark Investment Corp. 1,260 13,054
 Vaalco Energy, Inc. 2,127 10,507 Penson Worldwide, Inc.* 1,568 15,790
 Venoco, Inc.* 1,430 18,347 Piper Jaffray Cos.*(1) 1,330 53,599
 W&T Offshore, Inc.(1) 3,020 25,368 Prospect Capital Corp.(1) 3,586 43,570
 Warren Resources, Inc.* 3,150 7,938 Pzena Investment Management, Inc.
 Western Refining, Inc.*(1) 3,525 19,388 - Class A* 665 5,074
 Westmoreland Coal Co.* 900 11,358 Riskmetrics Group, Inc.* 1,254 28,353
 World Fuel Services Corp. 4,234 112,794 Safeguard Scientifics, Inc.* 1,185 15,405
 Zion Oil & Gas, Inc.*(1) 836 5,175 Sanders Morris Harris Group, Inc. 1,795 11,111
 ------------ Stifel Financial Corp.*(1) 1,987 106,801
 2,340,213 SWS Group, Inc. 2,087 24,063
 ------------ Teton Advisors, Inc. 10 115
 TOTAL ENERGY 3,492,674 Thomas Weisel Partners Group, Inc.* 76 298
 ------------ TICC Capital Corp. 1,004 6,616
 FINANCIALS -- 20.7% TradeStation Group, Inc.* 1,440 10,094
 CAPITAL MARKETS -- 2.6% Triangle Capital Corp. 1,000 14,040
 Allied Capital Corp.* 11,140 55,366 US Global Investors, Inc.- Class A 1,229 12,155
 American Capital Ltd.* 19,940 101,295 Virtus Investment Partners, Inc.* 503 10,482
 Apollo Investment Corp. 12,032 153,167 Westwood Holdings Group, Inc. 600 22,080
 Ares Capital Corp. 9,400 139,496 ------------
 Artio Global Investors, Inc. 1,000 24,740 1,805,884
 BGC Partners, Inc. - Class A 3,270 19,980 ------------
 Blackrock Kelso Capital Corp. 1,170 11,653 COMMERCIAL BANKS -- 5.9%
 Broadpoint Gleacher Securities 1st Source Corp. 838 14,707
 Group, Inc.* 4,075 16,300 Alliance Financial Corp. 150 4,422
 Calamos Asset Management, Inc. - American National Bankshares, Inc. 630 12,694
 Class A 1,785 25,597 Ameris Bancorp 1,127 10,173
 Capital Southwest Corp. 262 23,811 Ames National Corp. 481 9,644
 Cohen & Steers, Inc.(1) 1,213 30,276 Arrow Financial Corp.(1) 1,042 28,019
 Cowen Group, Inc. - Class A* 2,260 12,792 Auburn National Bancorporation,
 Diamond Hill Investment Group, Inc. 160 10,976 Inc.(1) 150 3,098
 Duff & Phelps Corp. - Class A 984 16,472 Bancfirst Corp. 414 17,351



 5


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
SMALL-CAP STRATEGY FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Banco Latinoamericano De
 Exportaciones SA 1,344 $ 19,300 IBERIABANK Corp. 1,334 $ 80,053
 Bancorp Rhode Island, Inc. 430 11,760 Independent Bank
 Bank of Marin BanCorp. 240 7,939 Corp./Massachusetts 1,216 29,987
 Bank of the Ozarks, Inc.(1) 646 22,733 International Bancshares Corp. 3,662 84,189
 Banner Corp.(1) 1,380 5,299 Investors Bancorp, Inc.* 3,271 43,177
 Boston Private Financial Holdings, Lakeland Bancorp, Inc. 1,655 14,647
 Inc.(1) 4,978 36,688 Lakeland Financial Corp. 885 16,859
 Bridge Bancorp, Inc.(1) 550 12,870 MainSource Financial Group, Inc. 1,619 10,896
 Bryn Mawr Bank Corp. 475 8,621 MB Financial, Inc. 3,755 84,600
 Camden National Corp. 503 16,151 Merchants Bancshares, Inc. 100 2,171
 Capital City Bank Group, Inc. 951 13,552 Metro Bancorp, Inc.* 352 4,847
 Cardinal Financial Corp. 1,390 14,845 Midsouth Bancorp, Inc. 730 12,045
 Cathay General Bancorp 5,412 63,050 Nara Bancorp, Inc.*(1) 1,841 16,127
 Center Bancorp, Inc. 1,050 8,726 National Bankshares, Inc.(1) 370 10,083
 CenterState Banks of Florida, Inc. 1,006 12,323 National Penn Bancshares, Inc. 9,431 65,074
 Central Pacific Financial Corp.*(1) 2,393 4,020 NBT Bancorp, Inc. 1,988 45,426
 Chemical Financial Corp. 1,128 26,643 Northfield Bancorp, Inc.(1) 1,406 20,359
 Citizens & Northern Corp. 661 8,296 Northrim BanCorp, Inc. 880 15,030
 Citizens Republic Bancorp, Inc.* 28,840 34,031 Norwood Financial Corp.(1) 220 5,940
 City Holding Co. 882 30,244 Ohio Valley Banc Corp. 140 3,016
 CNB Financial Corp.(1) 310 4,786 Old National Bancorp/Indiana 5,531 66,095
 CoBiz Financial, Inc. 1,549 9,650 Old Point Financial Corp. 290 4,280
 Columbia Banking System, Inc.(1) 1,739 35,319 Old Second Bancorp, Inc.(1) 1,140 7,513
 Community Bank Systems, Inc.(1) 1,934 44,057 Oriental Financial Group, Inc.(1) 1,844 24,894
 Community Trust Bancorp, Inc. 1,428 38,685 Orrstown Financial Services, Inc. 340 8,626
 CVB Financial Corp.(1) 5,394 53,562 Pacific Continental Corp. 856 8,988
 Danvers Bancorp, Inc. 3,411 47,174 PacWest Bancorp 2,029 46,302
 Eagle Bancorp, Inc.* 670 7,940 Park National Corp.(1) 618 38,508
 East West Bancorp, Inc. 7,442 129,640 Peapack-Gladstone Financial Corp. 807 12,678
 Enterprise Bancorp., Inc.(1) 400 4,884 Penns Woods Bancorp., Inc. 90 3,020
 Enterprise Financial Services Peoples Bancorp, Inc./Ohio 846 13,942
 Corp.(1) 753 8,328 Peoples Financial Corp./Mississippi 50 749
 Farmers Capital Bank Corp. 529 4,534 Pinnacle Financial Partners,
 Financial Institutions, Inc. 873 12,763 Inc.*(1) 1,811 27,364
 First Bancorp, Inc. 199 3,172 PremierWest Bancorp* 7,374 3,318
 First Bancorp/North Carolina 1,095 14,804 PrivateBancorp, Inc. 3,610 49,457
 First Bancorp/Puerto Rico(1) 6,366 15,342 Prosperity Bancshares, Inc.(1) 3,015 123,615
 First Busey Corp.(1) 2,081 9,198 Renasant Corp.(1) 1,001 16,196
 First Commonwealth Financial Corp. 6,386 42,850 Republic Bancorp, Inc./Kentucky -
 First Community Bancshares, Inc. 371 4,589 Class A 727 13,697
 First Financial Bancorp 3,815 67,869 S&T Bancorp, Inc. 1,850 38,665
 First Financial Bankshares, Inc. 1,571 80,985 S.Y. Bancorp, Inc. 859 19,542
 First Financial Corp./Indiana 725 20,996 Sandy Springs Bancorp, Inc. 1,287 19,305
 First Merchants Corp.(1) 265 1,844 Santander BanCorp* 650 7,976
 First Midwest Bancorp, Inc. 5,411 73,319 SCBT Financial Corp. 709 26,261
 First South Bancorp, Inc. 862 10,775 Shore Bancshares, Inc. 574 8,180
 FirstMerit Corp. 5,763 124,308 Sierra Bancorp 516 6,651
 FNB Corp. 7,246 58,765 Signature Bank* 2,704 100,183
 German American Bancorp, Inc.(1) 990 14,979 Simmons First National Corp. -
 Glacier Bancorp, Inc. 3,861 58,803 Class A 1,006 27,735
 Great Southern Bancorp, Inc. 440 9,874 Smithtown Bancorp, Inc.(1) 627 2,590
 Guaranty Bancorp* 5,210 8,284 Southside Bancshares, Inc. 955 20,599
 Hampton Roads Bankshares, Inc.(1) 1,010 1,576 Southwest Bancorp, Inc. 1,192 9,858
 Hancock Holding Co. 2,079 86,923 State Bancorp, Inc. 1,199 9,436
 Harleysville National Corp.(1) 1,808 12,114 StellarOne Corp. 1,663 22,234
 Heartland Financial USA, Inc. 983 15,699 Sterling Bancorp 1,287 12,934
 Heritage Financial Corp.* 820 12,374 Sterling Bancshares, Inc. 6,402 35,723
 Home BanCorp., Inc.* 550 7,700 Suffolk Bancorp(1) 684 21,006
 Home Bancshares, Inc.(1) 862 22,791 Sun Bancorp, Inc.* 1,365 5,378
 Susquehanna Bancshares, Inc. 6,653 65,266
 SVB Financial Group*(1) 2,718 126,822



 6


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
SMALL-CAP STRATEGY FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Texas Capital Bancshares, Inc.* 2,728 $ 51,805 American Physicians Capital, Inc. 1,590 $ 50,801
 The Bancorp, Inc.* 610 5,429 American Physicians Service Group,
 The First of Long Island Corp. 280 6,748 Inc. 720 18,000
 Tompkins Financial Corp.(1) 540 19,699 American Safety Insurance
 Tower Bancorp, Inc. 160 4,283 Holdings, Ltd.* 197 3,268
 TowneBank 810 11,308 AMERISAFE, Inc.* 1,022 16,730
 Trico Bancshares 1,043 20,756 Amtrust Financial Services, Inc. 1,113 15,526
 Trustmark Corp. 4,108 100,358 Argo Group International Holdings,
 UMB Financial Corp.(1) 2,454 99,632 Ltd.(1) 1,831 59,672
 Umpqua Holdings Corp.(1) 6,666 88,391 Assured Guaranty, Ltd. 8,239 181,011
 Union First Market Bankshares Corp. 1,069 16,142 Baldwin & Lyons, Inc. - Class B 652 15,707
 United Bankshares, Inc.(1) 2,464 64,606 Citizens, Inc.* 1,007 6,958
 United Community Banks, Inc.*(1) 6,800 29,988 CNA Surety Corp.*(1) 1,048 18,644
 Univest Corp. of PA 1,173 21,923 Conseco, Inc.*(1) 16,570 103,065
 Washington Banking Co. 920 11,583 Crawford & Co. - Class B* 2,037 8,291
 Washington Trust Bancorp, Inc. 596 11,109 Delphi Financial Group, Inc. -
 Webster Financial Corp. 4,440 77,656 Class A 3,113 78,323
 WesBanco, Inc. 1,696 27,577 Donegal Group, Inc. - Class A 750 10,883
 West Bancorp, Inc. 1,387 9,126 Eastern Insurance Holdings, Inc. 1,230 12,472
 Westamerica Bancorp(1) 2,123 122,391 eHealth, Inc.*(1) 1,434 22,586
 Western Alliance Bancorp* 4,121 23,448 EMC Insurance Group, Inc. 445 10,021
 Wilshire Bancorp, Inc. 1,470 16,214 Employers Holdings, Inc. 2,837 42,129
 Wintrust Financial Corp. 1,793 66,718 Enstar Group, Ltd.* 409 28,286
 Yadkin Valley Financial Corp. 807 3,470 FBL Financial Group, Inc. - Class A 963 23,574
 ------------ First Acceptance Corp.* 1,630 3,325
 4,168,926 First Mercury Financial Corp. 1,105 14,398
 ------------ Flagstone Reinsurance Holdings,
 CONSUMER FINANCE -- 0.5% Ltd. 2,687 30,793
 Advance America Cash Advance FPIC Insurance Group, Inc.* 1,066 28,899
 Centers, Inc. 2,250 13,095 Greenlight Capital Re, Ltd.- Class
 Cardtronics, Inc.* 1,390 17,472 A* 2,040 54,427
 Cash America International, Inc. 2,066 81,566 Hallmark Financial Services, Inc.* 1,217 10,953
 CompuCredit Holdings Corp.(1) 1,312 6,770 Harleysville Group, Inc. 1,239 41,829
 Credit Acceptance Corp.* 485 20,001 Hilltop Holdings, Inc.* 1,591 18,694
 Dollar Financial Corp.*(1) 1,932 46,484 Horace Mann Educators Corp. 2,314 34,849
 EzCorp, Inc.- Class A* 3,109 64,046 Independence Holding Co. 990 9,395
 First Cash Financial Services, Infinity Property & Casualty Corp. 818 37,170
 Inc.* 1,469 31,686 Kansas City Life Insurance Co. 400 12,632
 Nelnet, Inc. - Class A 1,562 28,991 Maiden Holdings, Ltd. 4,162 30,757
 The First Marblehead Corp.* 5,080 14,427 Max Capital Group, Ltd. 3,095 71,154
 World Acceptance Corp.*(1) 1,204 43,440 Meadowbrook Insurance Group, Inc. 4,135 32,667
 ------------ Montpelier Re Holdings, Ltd. 5,874 98,742
 367,978 National Financial Partners Corp.* 3,000 42,300
 ------------ National Interstate Corp. 519 10,749
 DIVERSIFIED FINANCIAL SERVICES -- 0.5% National Western Life Insurance
 Asset Acceptance Capital Corp.* 1,100 6,941 Co. - Class A(1) 145 26,731
 California First National Bancorp 970 12,950 Navigators Group, Inc.* 766 30,127
 Compass Diversified Holdings 1,831 27,941 NYMagic, Inc. 624 13,248
 Encore Capital Group, Inc.*(1) 965 15,874 Platinum Underwriters Holdings,
 Life Partners Holdings, Inc.(1) 498 11,041 Ltd. 3,160 117,173
 MarketAxess Holdings, Inc. 1,837 28,896 PMA Capital Corp. - Class A* 2,485 15,258
 Medallion Financial Corp. 1,311 10,436 Presidential Life Corp. 1,960 19,541
 NewStar Financial, Inc.* 1,134 7,235 ProAssurance Corp.* 2,397 140,320
 PHH Corp.* 3,527 83,131 RLI Corp.(1) 1,696 96,706
 PICO Holdings, Inc.* 1,386 51,545 Safety Insurance Group, Inc. 884 33,300
 Portfolio Recovery Associates, SeaBright Insurance Holdings, Inc. 1,684 18,541
 Inc.*(1) 1,279 70,179 Selective Insurance Group, Inc.(1) 3,323 55,162
 Primus Guaranty, Ltd.* 2,890 12,138 State Auto Financial Corp. 398 7,144
 Resource America, Inc. - Class A(1) 1,310 6,288 Stewart Information Services Corp. 1,459 20,134
 ------------ The Phoenix Cos., Inc.* 10,184 24,645
 344,595
 ------------
 INSURANCE -- 3.2%
 AMBAC Financial Group, Inc.*(1) 17,130 9,538
 American Equity Investment Life
 Holding Co. 4,523 48,170



 7


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
SMALL-CAP STRATEGY FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Tower Group, Inc.(1) 4,427 $ 98,147 Kilroy Realty Corp. 2,890 $ 89,128
 United America Indemnity, Ltd. - Kite Realty Group Trust 2,990 14,143
 Class A* 2,709 25,925 LaSalle Hotel Properties 4,601 107,203
 United Fire & Casualty Co. 1,595 28,694 Lexington Realty Trust(1) 7,501 48,831
 Universal Insurance Holdings, Inc. 2,460 12,448 LTC Properties, Inc. 1,522 41,185
 Zenith National Insurance Corp. 2,717 104,115 Medical Properties Trust, Inc. 5,095 53,396
 ------------ MFA Financial, Inc. 18,531 136,388
 2,254,747 Mid-America Apartment Communities,
 ------------ Inc. 1,870 96,847
 REAL ESTATE INVESTMENT TRUSTS -- 6.2% Mission West Properties, Inc. 1,485 10,217
 Acadia Realty Trust 3,085 55,098 Monmouth Real Estate Investment
 Agree Realty Corp. 589 13,465 Corp. - Class A 1,412 11,875
 Alexander's, Inc.* 126 37,690 National Health Investors, Inc. 1,624 62,946
 American Campus Communities, Inc. 3,435 95,012 National Retail Properties, Inc. 5,194 118,579
 American Capital Agency Corp. 1,398 35,789 NorthStar Realty Finance Corp. 2,890 12,167
 Anworth Mortgage Asset Corp. 7,481 50,422 Omega Healthcare Investors, Inc. 5,285 103,005
 Apollo Commercial Real Estate Parkway Properties, Inc. 1,829 34,349
 Finance, Inc. 740 13,327 Pennsylvania Real Estate
 Ashford Hospitality Trust, Inc.*(1) 4,420 31,691 Investment Trust(1) 2,601 32,434
 Associated Estates Realty Corp. 1,164 16,052 Pennymac Mortgage Investment Trust* 150 2,491
 BioMed Realty Trust, Inc. 6,406 105,955 Post Properties, Inc. 3,341 73,569
 CapLease, Inc. 4,301 23,871 Potlatch Corp. 2,551 89,387
 Capstead Mortgage Corp. 5,100 60,996 PS Business Parks, Inc. 1,139 60,823
 Care Investment Trust, Inc. 1,180 10,526 RAIT Financial Trust* 5,741 11,367
 CBL & Associates Properties, Ramco-Gershenson Properties
 Inc.(1) 9,480 129,876 Trust(1) 1,234 13,895
 Cedar Shopping Centers, Inc. 2,936 23,224 Redwood Trust, Inc. 5,029 77,547
 Cogdell Spencer, Inc. 1,127 8,340 Resource Capital Corp. 1,672 11,303
 Colonial Properties Trust 4,353 56,067 Saul Centers, Inc.(1) 438 18,133
 Cousins Properties, Inc. 5,407 44,932 Sovran Self Storage, Inc. 1,917 66,827
 Cypress Sharpridge Investments, Starwood Property Trust, Inc. 2,600 50,180
 Inc. 540 7,225 Strategic Hotels & Resorts, Inc.* 6,350 26,987
 DCT Industrial Trust, Inc. 13,755 71,939 Sun Communities, Inc. 1,141 28,753
 Developers Diversified Realty Corp. 13,860 168,676 Sunstone Hotel Investors, Inc.*(1) 6,364 71,086
 DiamondRock Hospitality Co.*(1) 9,317 94,195 Tanger Factory Outlet Centers, Inc. 2,682 115,755
 DuPont Fabros Technology, Inc. 1,885 40,697 Transcontinental Realty Investors,
 Dynex Capital, Inc. 1,710 15,390 Inc.* 380 4,758
 Eastgroup Properties, Inc. 1,594 60,158 U-Store-It Trust 5,124 36,893
 Education Realty Trust, Inc. 2,771 15,906 UMH Properties, Inc. 1,500 12,255
 Entertainment Properties Trust(1) 2,789 114,712 Universal Health Realty Income
 Equity Lifestyle Properties, Inc. 1,577 84,969 Trust 577 20,391
 Equity One, Inc.(1) 1,922 36,307 Urstadt Biddle Properties, Inc. -
 Extra Space Storage, Inc. 5,882 74,584 Class A 985 15,573
 FelCor Lodging Trust, Inc.* 4,890 27,873 Walter Investment Management Corp. 1,610 25,760
 First Industrial Realty Trust, Washington Real Estate Investment
 Inc.* 3,432 26,632 Trust 4,222 128,982
 First Potomac Realty Trust 2,514 37,785 Winthrop Realty Trust 990 11,920
 Franklin Street Properties Corp. 4,447 64,170 ------------
 Getty Realty Corp. 887 20,756 4,372,279
 Gladstone Commercial Corp. 1,090 15,750 ------------
 Glimcher Realty Trust 3,615 18,328 REAL ESTATE MANAGEMENT & DEVELOPMENT -- 0.2%
 Government Properties Income Trust 1,050 27,310 American Realty Investors, Inc.*(1) 1,130 12,148
 Gramercy Capital Corp.* 4,100 11,439 Avatar Holdings, Inc.* 512 11,131
 Hatteras Financial Corp.(1) 2,381 61,358 China Housing & Land Development,
 Healthcare Realty Trust, Inc. 3,926 91,436 Inc.*(1) 2,350 8,930
 Hersha Hospitality Trust 6,678 34,592 Consolidated Tomoka Land Co. 320 10,083
 Highwoods Properties, Inc.(1) 4,945 156,905 Forestar Group, Inc* 2,448 46,218
 Home Properties, Inc.(1) 2,484 116,251 Tejon Ranch Co.*(1) 648 19,777
 Inland Real Estate Corp.(1) 4,435 40,580 ------------
 Invesco Mortgage Capital, Inc.(1) 740 17,020 108,287
 Investors Real Estate Trust 4,097 36,955 ------------
 iStar Financial, Inc.* 4,950 22,720



 8


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
SMALL-CAP STRATEGY FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 THRIFTS & MORTGAGE FINANCE -- 1.6% ArQule, Inc.* 2,610 $ 15,034
 Abington Bancorp, Inc. 1,867 $ 14,749 Array Biopharma, Inc.* 2,963 8,119
 Astoria Financial Corp. 5,840 84,680 AVI BioPharma, Inc.* 2,950 3,511
 Bank Mutual Corp. 1,871 12,162 BioCryst Pharmaceuticals, Inc.*(1) 970 6,373
 BankFinancial Corp. 1,661 15,231 Biospecifics Technologies Corp.*(1) 150 4,163
 Beneficial Mutual Bancorp, Inc.* 4,480 42,470 Celera Corp.* 6,063 43,047
 Berkshire Hills Bancorp, Inc. 511 9,367 Cell Therapeutics, Inc.*(1) 7,181 3,883
 Brookline Bancorp, Inc. 3,448 36,687 Celldex Therapeutics, Inc.*(1) 973 5,974
 Brooklyn Federal Bancorp, Inc. 700 5,880 Cepheid, Inc.*(1) 4,137 72,315
 Clifton Savings Bancorp, Inc. 405 3,754 Chelsea Therapeutics
 Dime Community Bancshares 1,893 23,909 International, Inc.* 2,870 10,189
 Doral Financial Corp.* 968 4,172 Clinical Data, Inc.*(1) 845 16,393
 ESB Financial Corp.(1) 300 3,867 Cubist Pharmaceuticals, Inc.* 3,542 79,837
 ESSA Bancorp, Inc. 3,660 45,896 Curis, Inc.* 5,760 17,683
 First Defiance Financial Corp. 600 6,072 Cytokinetics, Inc.* 3,020 9,664
 First Financial Holdings, Inc. 964 14,518 Cytori Therapeutics, Inc.*(1) 1,467 6,690
 First Financial Northwest, Inc. 467 3,190 Dyax Corp.*(1) 3,021 10,302
 First Financial Service Corp.(1) 1,070 9,363 Emergent Biosolutions, Inc.* 1,271 21,340
 Flushing Financial Corp. 1,824 23,092 Enzon Pharmaceuticals, Inc.* 3,682 37,483
 Fox Chase Bancorp, Inc.* 917 9,913 Exelixis, Inc.* 6,962 42,259
 Home Federal Bancorp, Inc. 693 10,055 Facet Biotech Corp.* 1,271 34,304
 Kearny Financial Corp. 1,319 13,757 Genomic Health, Inc.*(1) 960 16,886
 Kentucky First Federal Bancorp.(1) 340 3,567 Geron Corp.* 6,387 36,278
 Legacy Bancorp, Inc 1,060 10,059 GTx, Inc.*(1) 1,098 3,667
 Meridian Interstate Bancorp, Inc.* 1,140 11,856 Halozyme Therapeutics, Inc.* 3,901 31,169
 MGIC Investment Corp.*(1) 9,240 101,363 Hemispherx Biopharma, Inc.* 9,290 6,875
 NewAlliance Bancshares, Inc. 6,255 78,938 Human Genome Sciences, Inc.* 12,630 381,426
 Northwest Bancshares, Inc.* 2,878 33,788 Idenix Pharmaceuticals, Inc.* 1,712 4,828
 OceanFirst Financial Corp. 798 9,065 Idera Pharmaceuticals, Inc.* 1,334 8,284
 Ocwen Financial Corp.* 3,326 36,885 Immunogen, Inc.*(1) 4,148 33,557
 Oritani Financial Corp. 760 12,213 Immunomedics, Inc.*(1) 6,910 22,941
 People's United Financial, Inc. 1,891 29,575 Incyte Corp.* 6,107 85,254
 Provident Financial Services, Inc. 3,585 42,662 Infinity Pharmaceuticals, Inc.* 610 3,721
 Provident New York Bancorp 1,624 15,396 Insmed, Inc.* 11,120 13,122
 Prudential BanCorp., Inc. of InterMune, Inc.*(1) 3,006 133,977
 Pennsylvania(1) 470 3,967 Isis Pharmaceuticals, Inc.*(1) 6,802 74,278
 Radian Group, Inc.(1) 5,876 91,901 Lexicon Pharmaceuticals, Inc.* 8,740 12,935
 Rockville Financial, Inc. 773 9,423 Ligand Pharmaceuticals, Inc.-
 Roma Financial Corp. 767 9,618 Class B* 9,151 16,014
 Territorial Bancorp, Inc. 780 14,843 MannKind Corp.*(1) 3,087 20,251
 The PMI Group, Inc.* 5,420 29,376 Martek Bioscience Corp.*(1) 1,816 40,878
 Tree.com, Inc.* 1,340 12,261 Maxygen, Inc.* 1,716 11,274
 TrustCo Bank Corp. 7,364 45,436 Medivation, Inc.*(1) 1,681 17,634
 United Financial Bancorp, Inc. 3,440 48,091 Metabolix, Inc.* 1,226 14,933
 ViewPoint Financial Group 601 9,742 Micromet, Inc.*(1) 4,540 36,683
 Waterstone Financial, Inc.* 3,320 12,018 Molecular Insight Pharmaceuticals,
 Westfield Financial, Inc. 5,704 52,420 Inc.*(1) 2,540 3,327
 WSFS Financial Corp. 508 19,812 Momenta Pharmaceuticals, Inc.* 2,250 33,682
 ------------ Myriad Pharmaceuticals, Inc.* 1,881 8,502
 1,137,059 Nabi Biopharmaceuticals* 4,488 24,549
 ------------ Nanosphere, Inc.* 1,299 6,222
 TOTAL FINANCIALS 14,559,755 Neurocrine Biosciences, Inc.* 3,017 7,693
 ------------ NeurogesX, Inc.* 230 2,162
 HEALTH CARE -- 14.2% Novavax, Inc.*(1) 5,273 12,181
 BIOTECHNOLOGY -- 3.9% NPS Pharmaceuticals, Inc.* 3,012 15,180
 Acorda Therapeutics, Inc.* 2,603 89,023 OncoGenex Pharmaceutical, Inc.* 550 11,291
 Affymax, Inc.* 855 20,033 Onyx Pharmaceuticals, Inc.* 4,104 124,269
 Alkermes, Inc.*(1) 6,383 82,788 Opko Health, Inc.* 910 1,802
 Allos Therapeutics, Inc.*(1) 4,388 32,603 Orexigen Therapeutics, Inc.*(1) 1,905 11,220
 Alnylam Pharmaceuticals, Inc.*(1) 2,818 47,962 Osiris Therapeutics, Inc.* 1,794 13,276
 AMAG Pharmaceuticals, Inc.* 1,410 49,223 PDL BioPharma, Inc.(1) 9,246 57,418
 Amicus Therapeutics, Inc.* 1,880 5,997
 Arena Pharmaceuticals, Inc.*(1) 6,740 20,894
 Ariad Pharmaceuticals, Inc.*(1) 8,780 29,852



 9


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
SMALL-CAP STRATEGY FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Pharmasset, Inc.*(1) 1,428 $ 38,270 Medical Action Industries, Inc.* 1,124 $ 13,791
 Poniard Pharmaceuticals, Inc.*(1) 1,440 1,656 Meridian Bioscience, Inc. 2,964 60,377
 Progenics Pharmaceuticals, Inc.* 1,706 9,093 Merit Medical Systems, Inc.* 1,812 27,633
 Protalix BioTherapeutics, Inc.*(1) 1,680 11,021 Micrus Endovascular Corp.* 929 18,320
 Regeneron Pharmaceuticals, Inc.* 4,492 118,993 Natus Medical, Inc.* 2,313 36,800
 Repligen Corp.* 770 3,126 Neogen Corp.*(1) 1,463 36,721
 Rigel Pharmaceuticals, Inc.* 4,001 31,888 NuVasive, Inc.* 2,500 113,000
 Sangamo Biosciences, Inc.* 2,895 15,691 NxStage Medical, Inc.*(1) 2,221 25,430
 Savient Pharmaceuticals, Inc.*(1) 4,988 72,077 OraSure Technologies, Inc.* 3,287 19,492
 Sciclone Pharmaceuticals, Inc.* 2,980 10,519 Orthofix International N.V.* 1,271 46,239
 Seattle Genetics, Inc.* 5,855 69,909 Orthovita, Inc.*(1) 3,068 13,070
 SIGA Technologies, Inc.* 2,580 17,105 Palomar Medical Technologies, Inc.* 1,403 15,237
 Spectrum Pharmaceuticals, Inc.*(1) 4,450 20,514 Quidel Corp.* 1,397 20,312
 StemCells, Inc.*(1) 14,220 16,495 Rochester Medical Corp.* 530 6,795
 Synta Pharmaceuticals Corp.* 2,000 8,620 Rockwell Medical Technologies,
 Theravance, Inc.* 3,536 47,100 Inc.* 660 3,815
 Vanda Pharmaceuticals, Inc.* 2,420 27,927 RTI Biologics, Inc.* 4,000 17,320
 Vical, Inc.* 1,870 6,283 Sirona Dental Systems, Inc.*(1) 1,312 49,895
 Zymogenetics, Inc.* 2,575 14,755 Somanetics Corp.* 632 12,096
 ------------ SonoSite, Inc.* 1,035 33,234
 2,727,619 Spectranetics Corp.*(1) 1,838 12,701
 ------------ Stereotaxis, Inc.* 2,246 11,252
 HEALTH CARE EQUIPMENT & SUPPLIES -- 3. 6% STERIS Corp.(1) 3,790 127,571
 Abaxis, Inc.* 1,301 35,374 SurModics, Inc.*(1) 960 20,102
 Abiomed, Inc.*(1) 2,062 21,300 Symmetry Medical, Inc.* 3,068 30,803
 AccuRay, Inc.* 1,680 10,231 Synovis Life Technologies, Inc.* 634 9,846
 AGA Medical Holdings, Inc.* 1,300 21,125 Thoratec Corp.*(1) 3,866 129,318
 Align Technology, Inc.* 3,801 73,511 TomoTherapy, Inc.* 4,263 14,537
 Alphatec Holdings, Inc.* 2,110 13,441 TranS1, Inc.* 847 2,753
 American Medical Systems Holdings, Utah Medical Products, Inc. 660 18,566
 Inc.*(1) 4,964 92,231 Vascular Solutions, Inc.* 720 6,473
 Analogic Corp. 798 34,099 Volcano Corp.*(1) 3,389 81,878
 AngioDynamics, Inc.*(1) 1,729 27,007 West Pharmaceutical Services,
 Atrion Corp. 90 12,874 Inc.(1) 2,020 84,739
 ATS Medical, Inc.* 2,990 7,774 Wright Medical Group, Inc.* 2,270 40,338
 Bovie Medical Corp.*(1) 610 3,813 Young Innovations, Inc. 240 6,758
 Cantel Medical Corp. 1,044 20,723 Zoll Medical Corp.* 1,333 35,138
 Cardiac Science Corp.* 1,667 3,117 ------------
 Cardiovascular Systems, Inc.*(1) 1,410 7,487 2,518,548
 Conceptus, Inc.*(1) 1,861 37,146 ------------
 Conmed Corp.* 1,663 39,596 HEALTH CARE PROVIDERS & SERVICES -- 3.7%
 Cryolife, Inc.* 1,550 10,029 Air Methods Corp.* 781 26,554
 Cyberonics, Inc.* 2,230 42,727 Alliance HealthCare Services,
 Cynosure, Inc.- Class A* 603 6,778 Inc.*(1) 3,130 17,591
 Delcath Systems, Inc.* 2,920 23,652 Allied Healthcare International,
 DexCom, Inc.* 3,623 35,252 Inc.* 5,750 15,640
 Electro-Optical Sciences, Inc.*(1) 1,820 13,504 Almost Family, Inc.* 548 20,654
 Endologix, Inc.* 3,030 12,241 Amedisys, Inc.*(1) 1,866 103,040
 ev3, Inc.* 5,315 84,296 America Service Group, Inc. 810 13,033
 Exactech, Inc.* 622 13,043 American Dental Partners, Inc.* 750 9,787
 Greatbatch, Inc.* 1,281 27,144 AMERIGROUP Corp.* 3,428 113,947
 Haemonetics Corp.* 2,255 128,873 AMN Healthcare Services, Inc.* 2,908 25,590
 Hansen Medical, Inc.*(1) 1,503 3,442 AmSurg Corp.* 1,870 40,373
 HeartWare International, Inc.* 390 17,343 Assisted Living Concepts, Inc. -
 ICU Medical, Inc.* 887 30,557 Class A*(1) 752 24,696
 Immucor, Inc.*(1) 4,479 100,285 Bio-Reference Labs, Inc.*(1) 699 30,735
 Insulet Corp.* 2,921 44,078 BioScrip, Inc.* 2,220 17,716
 Integra LifeSciences Holdings Capital Senior Living Corp.* 2,468 12,982
 Corp.* 1,207 52,903 CardioNet, Inc.* 1,800 13,770
 Invacare Corp. 2,254 59,821 Catalyst Health Solutions, Inc.* 2,626 108,664
 IRIS International, Inc.* 1,005 10,261 Centene Corp.* 3,257 78,298
 Kensey Nash Corp.* 558 13,163 Chemed Corp. 1,385 75,316
 MAKO Surgical Corp.*(1) 1,700 22,916 Chindex International, Inc.* 861 10,168
 Masimo Corp.(1) 3,881 103,041



 10


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
SMALL-CAP STRATEGY FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Clarient, Inc.* 670 $ 1,755 Merge Healthcare, Inc.* 1,000 $ 2,070
 Continucare Corp.* 1,590 5,883 Omnicell, Inc.* 1,998 28,032
 Corvel Corp.* 410 14,657 Phase Forward, Inc.* 2,633 34,413
 Cross Country Healthcare, Inc.* 2,414 24,406 Quality Systems, Inc.(1) 1,748 107,397
 Emergency Medical Services Corp. - Transcend Services, Inc.* 340 5,525
 Class A* 1,922 108,689 Vital Images, Inc.* 1,210 19,566
 Emeritus Corp.*(1) 1,586 32,275 ------------
 Genoptix, Inc.* 1,475 52,348 475,360
 Gentiva Health Services, Inc.* 2,117 59,869 ------------
 Hanger Orthopedic Group, Inc.* 1,423 25,870 LIFE SCIENCES TOOLS & SERVICES -- 0.7%
 Health Grades, Inc.* 1,760 11,194 Accelrys, Inc.* 2,562 15,782
 HealthSouth Corp.* 6,834 127,796 Affymetrix, Inc.* 4,134 30,344
 Healthspring, Inc.* 3,743 65,877 Albany Molecular Research, Inc.* 1,747 14,587
 Healthways, Inc.* 2,160 34,711 Bruker Corp.* 2,916 42,719
 HMS Holdings Corp.* 1,829 93,261 Cambrex Corp.* 2,214 8,967
 inVentiv Health, Inc.* 2,377 53,387 Dionex Corp.* 1,155 86,371
 IPC The Hospitalist Co., Inc.*(1) 1,160 40,728 Enzo Biochem, Inc.* 2,252 13,557
 Kindred Healthcare, Inc.* 2,469 44,565 eResearch Technology, Inc.* 2,783 19,231
 Landauer, Inc.(1) 666 43,436 Harvard Bioscience, Inc.* 600 2,322
 LCA - Vision, Inc.* 450 3,744 Kendle International, Inc.* 866 15,138
 LHC Group, Inc.*(1) 977 32,759 Luminex, Corp.* 3,728 62,742
 Magellan Health Services, Inc.* 2,395 104,135 Parexel International Corp.* 3,949 92,051
 Medcath Corp.* 1,454 15,223 Sequenom, Inc.*(1) 3,898 24,596
 Metropolitan Health Networks, Inc.* 4,330 13,986 Varian, Inc.*(1) 1,456 75,392
 Molina Healthcare, Inc.*(1) 1,088 27,385 ------------
 MWI Veterinary Supply, Inc.* 650 26,260 503,799
 National HealthCare Corp. 786 27,809 ------------
 National Research Corp. 460 11,647 PHARMACEUTICALS -- 1.6%
 Nighthawk Radiology Holdings, Inc.* 2,522 8,020 Acura Pharmaceuticals, Inc.* 1,700 9,163
 Odyssey Healthcare, Inc.* 1,923 34,825 Adolor Corp.* 2,670 4,806
 Owens & Minor, Inc. 2,731 126,691 Ardea Biosciences, Inc.* 1,236 22,569
 PharMerica Corp.* 2,319 42,252 ARYx Therapeutics, Inc.* 210 183
 PSS World Medical, Inc.*(1) 4,212 99,024 Auxilium Pharmaceuticals, Inc.* 3,151 98,185
 Psychiatric Solutions, Inc.* 3,947 117,621 AVANIR Pharmaceuticals, Inc. -
 RadNet, Inc.* 3,431 10,911 Class A* 6,120 14,198
 RehabCare Group, Inc.*(1) 1,502 40,959 Biodel, Inc.* 1,021 4,360
 Res-Care, Inc.* 1,055 12,649 Biomimetic Therapeutics, Inc.*(1) 839 11,033
 Select Medical Holdings Corp.* 3,990 33,676 BMP Sunstone Corp.* 1,953 9,882
 Skilled Healthcare Group, Inc. - Cadence Pharmaceuticals, Inc.*(1) 1,939 17,703
 Class A* 1,569 9,681 Caraco Pharmaceutical
 Sun Healthcare Group, Inc.* 2,620 24,995 Laboratories, Ltd.*(1) 1,004 6,014
 Sunrise Senior Living, Inc.* 4,190 21,453 Cornerstone Therapeutics, Inc.* 20 127
 The Ensign Group, Inc.(1) 1,329 23,032 Cumberland Pharmaceuticals, Inc.* 1,200 12,636
 The Providence Service Corp.* 380 5,772 Cypress Bioscience, Inc.* 2,574 12,613
 Triple-S Management Corp. - Class Depomed, Inc.* 4,260 15,123
 B* 1,201 21,318 Discovery Laboratories, Inc.*(1) 3,580 1,862
 U.S. Physical Therapy, Inc.* 812 14,129 Durect Corp.* 5,105 15,366
 Universal American Corp.* 2,083 32,078 Hi-Tech Pharmacal Co., Inc.*(1) 340 7,528
 Virtual Radiologic Corp.*(1) 280 3,080 Impax Laboratories, Inc.* 4,190 74,917
 WellCare Health Plans, Inc.* 2,970 88,506 Inspire Pharmaceuticals, Inc.* 3,494 21,803
 ------------ ISTA Pharmaceuticals, Inc.* 1,410 5,739
 2,632,881 Javelin Pharmaceuticals, Inc.*(1) 7,550 9,739
 ------------ KV Pharmaceutical Co. - Class A*(1) 493 868
 HEALTH CARE TECHNOLOGY -- 0.7% MAP Pharmaceuticals, Inc.* 264 4,195
 AMICAS, Inc.* 2,650 15,953 Matrixx Initiatives, Inc.* 530 2,687
 Athenahealth, Inc.* 2,340 85,550 Medicis Pharmaceutical Corp. -
 Computer Programs & Systems, Class A 4,057 102,074
 Inc.(1) 603 23,565 Nektar Therapeutics* 5,912 89,921
 Eclipsys Corp.* 3,591 71,389 Obagi Medical Products, Inc.* 1,300 15,834
 MedAssets, Inc.*(1) 2,629 55,209 Optimer Pharmaceuticals, Inc.* 3,575 43,901
 Medidata Solutions, Inc.* 1,720 26,144 Pain Therapeutics, Inc.* 1,910 11,976
 MedQuist, Inc. 70 547 Par Pharmaceutical Cos., Inc.* 2,680 66,464
 Pozen, Inc.* 2,105 20,166
 Questcor Pharmaceuticals, Inc.* 3,999 32,912



 11


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
SMALL-CAP STRATEGY FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Salix Pharmaceuticals, Ltd.* 3,707 $ 138,086 SkyWest, Inc. 3,683 $ 52,593
 Santarus, Inc.* 3,410 18,346 UAL Corp.*(1) 11,552 225,842
 Sucampo Pharmaceuticals, Inc.- US Airways Group, Inc.*(1) 10,526 77,366
 Class A* 892 3,184 ------------
 SuperGen, Inc.* 2,500 8,000 714,428
 The Medicines Co.* 2,909 22,806 ------------
 ViroPharma, Inc.*(1) 5,564 75,837 BUILDING PRODUCTS -- 0.6%
 Vivus, Inc.*(1) 6,306 54,988 AAON, Inc.(1) 302 6,831
 XenoPort, Inc.* 2,664 24,669 American Woodmark Corp.(1) 645 12,507
 ------------ Ameron International Corp. 727 45,721
 1,112,463 Apogee Enterprises, Inc.(1) 2,037 32,205
 ------------ Builders FirstSource, Inc.* 2,760 8,694
 TOTAL HEALTH CARE 9,970,670 Gibraltar Industries, Inc.* 2,080 26,229
 ------------ Griffon Corp.* 3,179 39,610
 INDUSTRIALS -- 15.1% Insteel Industries, Inc.(1) 1,260 13,469
 AEROSPACE & DEFENSE -- 1.7% NCI Building Systems, Inc.* 1,852 20,446
 AAR Corp.*(1) 2,916 72,375 Quanex Building Products Corp. 2,903 47,987
 Aerovironment, Inc.*(1) 984 25,692 Simpson Manufacturing Co., Inc. 2,611 72,481
 American Science & Engineering, Trex Co., Inc.*(1) 1,179 25,101
 Inc. 504 37,760 Universal Forest Products, Inc. 1,106 42,603
 Applied Signal Technology, Inc. 1,136 22,243 ------------
 Argon ST, Inc.* 757 20,144 393,884
 Ceradyne, Inc.* 1,322 29,996 ------------
 Cubic Corp. 948 34,128 COMMERCIAL SERVICES & SUPPLIES -- 2.2%
 Curtiss-Wright Corp. 2,936 102,173 ABM Industries, Inc. 2,859 60,611
 DigitalGlobe, Inc.* 820 22,919 ACCO Brands Corp.* 3,080 23,593
 Ducommun, Inc. 334 7,017 American Reprographics Co.*(1) 2,348 21,062
 DynCorp International, Inc. - AMREP Corp.* 277 4,025
 Class A* 1,878 21,578 APAC Customer Services, Inc.* 770 4,428
 Esterline Technologies Corp.* 1,947 96,240 ATC Technology Corp.* 1,199 20,575
 GenCorp, Inc.*(1) 3,309 19,060 Bowne & Co., Inc. 3,039 33,915
 GeoEye, Inc.* 1,079 31,830 Cenveo, Inc.* 4,493 38,909
 Global Defense Technology & Clean Harbors, Inc.* 1,427 79,284
 Systems, Inc.* 820 10,988 Consolidated Graphics, Inc.* 832 34,453
 HEICO Corp.(1) 1,723 88,838 Cornell Cos., Inc.* 843 15,435
 Herley Industries, Inc.* 1,153 16,903 Courier Corp. 824 13,604
 Hexcel Corp.* 6,543 94,481 Deluxe Corp. 3,765 73,116
 Ladish Co., Inc.* 1,270 25,603 EnergySolutions, Inc. 4,361 28,041
 LMI Aerospace, Inc.* 657 12,207 EnerNOC, Inc.*(1) 754 22,379
 Moog, Inc. - Class A* 3,116 110,369 Ennis, Inc. 2,099 34,151
 Orbital Sciences Corp.* 3,381 64,273 Fuel Tech, Inc.* 1,231 9,873
 Stanley, Inc.* 1,070 30,270 G & K Services, Inc. - Class A 884 22,878
 Taser International, Inc.* 4,781 28,017 Healthcare Services Group, Inc. 2,870 64,259
 Teledyne Technologies, Inc.*(1) 2,344 96,737 Herman Miller, Inc.(1) 3,735 67,454
 Triumph Group, Inc.(1) 1,220 85,510 HNI Corp. 3,113 82,899
 ------------ Innerworkings, Inc.* 1,930 10,036
 1,207,351 Interface, Inc. - Class A(1) 3,595 41,630
 ------------ Kimball International, Inc. -
 AIR FREIGHT & LOGISTICS -- 0.3% Class B 2,860 19,877
 Air Transport Services Group, Inc.* 6,210 20,928 Knoll, Inc. 3,782 42,548
 Atlas Air Worldwide Holdings, Inc.* 1,434 76,074 M&F Worldwide Corp.* 633 19,370
 Dynamex, Inc.* 500 8,600 McGrath RentCorp(1) 1,520 36,830
 Forward Air Corp. 2,161 56,834 Metalico, Inc.* 1,773 10,620
 Hub Group, Inc. - Class A*(1) 2,482 69,446 Mine Safety Appliances Co.(1) 1,603 44,820
 Pacer International, Inc.* 2,735 16,465 Mobile Mini, Inc.*(1) 2,878 44,580
 ------------ Multi-Color Corp. 681 8,158
 248,347 Perma-Fix Environmental Services* 2,050 4,592
 ------------ Rollins, Inc.(1) 3,041 65,929
 AIRLINES -- 1.0% Schawk, Inc. 573 10,388
 AirTran Holdings, Inc.*(1) 9,802 49,794 Standard Parking Corp.* 1,308 21,477
 Alaska Air Group, Inc.* 2,647 109,136 Steelcase, Inc. - Class A 4,120 26,656
 Allegiant Travel Co.*(1) 1,084 62,720 Sykes Enterprises, Inc.* 2,432 55,547
 Hawaiian Holdings, Inc.* 2,833 20,879 Team, Inc.*(1) 1,034 17,154
 JetBlue Airways Corp.* 17,304 96,556 Tetra Tech, Inc.* 3,624 83,497
 Republic Airways Holdings, Inc.*(1) 3,301 19,542



 12


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
SMALL-CAP STRATEGY FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 The GEO Group, Inc.* 3,523 $ 69,826 Regal-Beloit Corp.(1) 2,577 $ 153,100
 The Standard Register Co.(1) 1,208 6,463 Satcon Technology Corp.* 6,840 16,621
 United Stationers, Inc.* 1,619 95,278 Smith (A.O.) Corp. 1,559 81,957
 US Ecology, Inc. 1,614 25,985 Ultralife Corp.* 837 3,356
 Viad Corp. 1,265 25,996 Valence Technology, Inc.*(1) 4,230 3,596
 Waste Services, Inc.* 767 7,586 Vicor Corp.*(1) 859 11,863
 ------------ Woodward Governor Co.(1) 4,341 138,825
 1,549,787 ------------
 ------------ 1,522,465
 CONSTRUCTION & ENGINEERING -- 0.8% ------------
 Argan, Inc.* 70 910 INDUSTRIAL CONGLOMERATES -- 0.2%
 Comfort Systems USA, Inc.(1) 2,501 31,238 Otter Tail Corp.(1) 2,348 51,562
 Dycom Industries, Inc.* 3,177 27,862 Raven Industries, Inc.(1) 1,191 35,122
 EMCOR Group, Inc.* 4,722 116,303 Seaboard Corp. 17 22,085
 Furmanite Corp.* 2,481 12,876 Standex International Corp. 958 24,688
 Granite Construction, Inc. 2,180 65,880 Tredegar Corp. 1,268 21,657
 Great Lakes Dredge & Dock Corp. 3,036 15,939 United Capital Corp.* 500 11,860
 Insituform Technologies, Inc. - ------------
 Class A* 2,623 69,798 166,974
 Integrated Electrical Services, ------------
 Inc.* 696 3,932 MACHINERY -- 2.7%
 Layne Christensen Co.* 1,480 39,531 3-D Systems Corp.* 1,635 22,318
 MasTec, Inc.* 3,124 39,394 Actuant Corp. - Class A 4,310 84,260
 Michael Baker Corp.* 314 10,827 Alamo Group, Inc. 769 15,372
 MYR Group, Inc.* 840 13,700 Albany International Corp. - Class
 Northwest Pipe Co.*(1) 331 7,232 A 2,100 45,213
 Orion Marine Group, Inc.* 1,598 28,844 Altra Holdings, Inc.* 1,663 22,833
 Pike Electric Corp.* 1,200 11,184 American Railcar Industries, Inc. 589 7,162
 Sterling Construction Co., Inc.* 675 10,611 Ampco-Pittsburgh Corp. 586 14,545
 Tutor Perini Corp.*(1) 1,921 41,782 Astec Industries, Inc.* 1,001 28,989
 ------------ Badger Meter, Inc.(1) 848 32,656
 547,843 Barnes Group, Inc. 2,945 57,280
 ------------ Blount International, Inc.* 1,980 20,513
 ELECTRICAL EQUIPMENT -- 2.2% Briggs & Stratton Corp.(1) 3,158 61,581
 Acuity Brands, Inc. 3,013 127,179 Cascade Corp. 613 19,745
 Advanced Battery Technologies, Chart Industries, Inc.* 2,279 45,580
 Inc.* 3,809 14,855 China Fire & Security Group,
 American Superconductor Corp.*(1) 3,235 93,491 Inc.*(1) 1,071 13,891
 AZZ, Inc.(1) 987 33,410 CIRCOR International, Inc. 1,238 41,114
 Baldor Electric Co.(1) 3,107 116,202 Clarcor, Inc.(1) 3,528 121,681
 Belden, Inc. 3,324 91,277 Colfax Corp.* 1,575 18,538
 Brady Corp. - Class A 3,229 100,486 Columbus McKinnon Corp.* 885 14,045
 Broadwind Energy, Inc.*(1) 2,530 11,309 Duoyuan Printing, Inc.* 1,340 14,472
 China BAK Battery, Inc.*(1) 2,544 6,131 Dynamic Materials Corp. 835 13,043
 Encore Wire Corp. 987 20,530 Energy Recovery, Inc.*(1) 2,029 12,783
 Ener1, Inc.*(1) 3,580 16,933 EnPro Industries, Inc.*(1) 1,587 46,150
 Energy Conversion Devices, Inc.*(1) 3,405 26,661 ESCO Technologies, Inc. 1,602 50,960
 EnerSys, Inc.* 2,637 65,028 Federal Signal Corp.(1) 3,719 33,508
 Evergreen Solar, Inc.*(1) 12,477 14,099 Flow International, Corp.* 1,441 4,337
 Franklin Electric Co., Inc. 1,836 55,062 Force Protection, Inc.* 6,194 37,288
 FuelCell Energy, Inc.*(1) 4,724 13,322 FreightCar America, Inc. 913 22,058
 Fushi Copperweld, Inc.* 1,190 13,352 Graham Corp. 495 8,905
 GrafTech International, Ltd.* 8,594 117,480 Greenbrier Cos., Inc.* 1,290 14,203
 GT Solar International, Inc.*(1) 2,544 13,305 Hurco Cos., Inc.* 569 9,576
 Harbin Electric, Inc.*(1) 891 19,237 John Bean Technologies Corp. 1,520 26,661
 II-VI, Inc.*(1) 1,637 55,396 K-Tron International, Inc.* 231 34,643
 LaBarge, Inc.* 771 8,520 Kadant, Inc.* 414 5,966
 LSI Industries, Inc. 1,623 11,069 Kaydon Corp. 2,342 88,059
 Microvision, Inc.*(1) 6,120 17,258 L.B. Foster Co. - Class A* 856 24,730
 Orion Energy Systems, Inc*(1) 1,038 5,086 Lindsay Corp. 708 29,318
 Polypore International, Inc.* 1,437 25,090 Met-Pro Corp. 770 7,546
 Powell Industries, Inc.* 249 8,100 Middleby Corp.*(1) 1,064 61,276
 PowerSecure International, Inc.*(1) 746 5,878 Miller Industries, Inc. 300 3,729
 Preformed Line Products Co. 194 7,401 Mueller Industries, Inc. 2,736 73,297



 13


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
SMALL-CAP STRATEGY FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Mueller Water Products, Inc. - The Corporate Executive Board
 Class A 11,240 $ 53,727 Co.(1) 2,090 $ 55,573
 NACCO Industries, Inc. - Class A 366 27,139 Towers Watson & Co. - Class A*(1) 3,117 148,057
 Nordson Corp.(1) 2,287 155,333 Trueblue, Inc.* 2,641 40,935
 Omega Flex, Inc. 150 1,575 Volt Information Sciences, Inc.* 1,163 11,874
 PMFG, Inc.*(1) 537 7,105 VSE Corp. 296 12,183
 RBC Bearings, Inc.* 1,647 52,490 ------------
 Robbins & Myers, Inc. 2,093 49,855 988,932
 Sauer-Danfoss, Inc.* 954 12,669 ------------
 SmartHeat, Inc.* 160 1,718 ROAD & RAIL -- 1.0%
 Sun Hydraulics Corp.(1) 665 17,277 Amerco, Inc.* 702 38,112
 Tecumseh Products Co. - Class A* 1,562 19,166 Arkansas Best Corp. 1,626 48,585
 Tennant Co. 1,321 36,182 Avis Budget Group, Inc.* 7,030 80,845
 The Gorman-Rupp Co.(1) 1,200 30,528 Celadon Group, Inc.* 1,888 26,319
 Titan International, Inc.(1) 2,845 24,837 Dollar Thrifty Automotive Group,
 TriMas Corp.* 790 5,127 Inc.*(1) 2,040 65,545
 Twin Disc, Inc. 833 10,179 Genesee & Wyoming, Inc. - Class A* 2,527 86,221
 Watts Water Technologies, Inc. - Heartland Express, Inc. 4,108 67,782
 Class A 2,224 69,077 Knight Transportation, Inc. 4,017 84,718
 ------------ Marten Transport, Ltd.* 729 14,369
 1,883,808 Old Dominion Freight Line, Inc.* 1,787 59,668
 ------------ Patriot Transportation Holding,
 MARINE -- 0.2% Inc.* 100 8,448
 American Commercial Lines, Inc.* 564 14,157 RailAmerica, Inc.* 1,150 13,570
 Eagle Bulk Shipping, Inc.*(1) 2,818 14,964 Saia, Inc.* 1,179 16,364
 Genco Shipping & Trading, Ltd.*(1) 2,109 44,521 Universal Truckload Services, Inc.* 380 6,680
 Horizon Lines, Inc. - Class A 2,278 12,392 USATruck, Inc.* 710 11,474
 International Shipholding Corp. 375 11,021 Werner Enterprises, Inc.(1) 2,921 67,680
 TBS International plc(1) 634 4,628 YRC Worldwide, Inc.*(1) 4,989 2,713
 Ultrapetrol Bahamas, Ltd.* 1,180 6,478 ------------
 ------------ 699,093
 108,161 ------------
 ------------ TRADING COMPANIES & DISTRIBUTORS -- 0.8%
 PROFESSIONAL SERVICES -- 1.4% Aceto Corp.(1) 1,723 10,407
 Acacia Research - Acacia Aircastle, Ltd. 3,715 35,181
 Technologies* 1,660 17,978 Applied Industrial Technologies,
 Administaff, Inc.(1) 1,281 27,337 Inc. 2,590 64,362
 Barrett Business Services, Inc. 910 12,340 Beacon Roofing Supply, Inc.*(1) 3,224 61,675
 CBIZ, Inc.* 7,937 52,146 BlueLinx Holdings, Inc.* 3,250 12,383
 CDI Corp. 1,113 16,317 DXP Enterprises, Inc.* 390 4,980
 COMSYS IT Partners, Inc.* 674 11,782 H&E Equipment Services, Inc.* 1,405 15,146
 CoStar Group, Inc.* 1,369 56,841 Houston Wire & Cable Co. 1,199 13,884
 CRA International, Inc.* 707 16,204 Interline Brands, Inc.* 1,988 38,050
 Diamond Management & Technology Kaman Corp. 1,702 42,567
 Consultants, Inc. 1,750 13,737 Lawson Products, Inc. 430 6,652
 Exponent, Inc.* 1,927 54,958 RSC Holdings, Inc.* 2,654 21,126
 Franklin Covey Co.* 350 2,779 Rush Enterprises, Inc. - Class A* 1,870 24,703
 GP Strategies Corp.* 1,400 11,704 TAL International Group, Inc. 1,089 21,758
 Heidrick & Struggles Textainer Group Holdings, Ltd. 854 18,404
 International, Inc. 1,090 30,553 Titan Machinery, Inc.*(1) 780 10,678
 Hill International, Inc.* 1,739 10,138 United Rentals, Inc.*(1) 3,540 33,205
 Huron Consulting Group, Inc.* 1,872 38,002 Watsco, Inc.(1) 1,843 104,830
 ICF International, Inc.* 697 17,313 Willis Lease Finance Corp.* 810 12,782
 Kelly Services, Inc. - Class A* 2,127 35,436 ------------
 Kforce, Inc.* 1,493 22,709 552,773
 Korn/Ferry International* 2,744 48,432 ------------
 Navigant Consulting, Inc.* 3,382 41,024 TRANSPORTATION INFRASTRUCTURE -- 0.0%
 Odyssey Marine Exploration, Inc.* 3,565 4,670 CAI International, Inc.* 990 12,197
 On Assignment, Inc.* 2,935 20,927 ------------
 Resources Connection, Inc.* 2,935 56,264 TOTAL INDUSTRIALS 10,596,043
 School Specialty, Inc.*(1) 1,106 25,117 ------------
 SFN Group, Inc.* 4,334 34,715 INFORMATION TECHNOLOGY -- 17.9%
 The Advisory Board Co.* 1,298 40,887 COMMUNICATIONS EQUIPMENT -- 3.1%
 3Com Corp.* 27,376 210,521
 Acme Packet, Inc.*(1) 2,843 54,813



 14


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
SMALL-CAP STRATEGY FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 ADC Telecommunications, Inc.* 5,900 $ 43,129 Isilon Systems, Inc.* 1,340 $ 11,538
 Adtran, Inc.(1) 3,931 103,582 Netezza Corp.* 2,718 34,763
 Airvana, Inc.* 1,647 12,616 Novatel Wireless, Inc.*(1) 2,481 16,697
 Anaren, Inc.* 1,241 17,672 Quantum Corp.* 11,970 31,481
 Arris Group, Inc.* 8,211 98,614 Rimage Corp.* 794 11,481
 Aruba Networks, Inc.* 4,105 56,074 Silicon Graphics International
 Aviat Networks, Inc.* 3,258 21,601 Corp.*(1) 2,180 23,304
 Bel Fuse, Inc. - Class B 437 8,806 STEC, Inc.* 1,216 14,568
 Bigband Networks, Inc.* 4,177 14,745 Stratasys, Inc.*(1) 1,630 39,740
 Black Box Corp. 1,228 37,773 Super Micro Computer, Inc.* 1,598 27,614
 Blue Coat Systems, Inc.* 2,684 83,311 Synaptics, Inc.*(1) 2,343 64,690
 Cogo Group, Inc.* 1,589 11,107 ------------
 Comtech Telecommunications Corp.* 1,909 61,069 537,534
 DG FastChannel, Inc.* 1,327 42,398 ------------
 Digi International, Inc.* 1,982 21,088 ELECTRONIC EQUIPMENT, INSTRUMENTS & COMPONENTS -- 2.1%
 Emcore Corp.* 770 932 Agilysys, Inc. 520 5,808
 EMS Technologies, Inc.* 1,273 21,132 Anixter International, Inc.* 2,035 95,340
 Emulex Corp.* 5,740 76,227 Benchmark Electronics, Inc.* 4,320 89,597
 Extreme Networks, Inc.* 3,676 11,285 Brightpoint, Inc.* 4,045 30,459
 Globecomm Systems, Inc.* 1,996 15,349 Checkpoint Systems, Inc.* 2,403 53,154
 Harmonic, Inc.* 5,392 34,023 China Security & Surveillance
 Hughes Communications, Inc.* 654 18,214 Technology, Inc.* 2,287 17,587
 Infinera Corp.* 5,716 48,700 Cogent, Inc.* 2,647 26,999
 InterDigital, Inc.*(1) 2,958 82,410 Cognex Corp. 2,900 53,621
 Ixia* 2,365 21,924 Coherent, Inc.* 1,534 49,027
 KVH Industries, Inc.* 550 7,254 Comverge, Inc.*(1) 1,438 16,264
 Loral Space & Communications, CPI International, Inc.* 331 4,389
 Inc.*(1) 781 27,429 CTS Corp. 2,508 23,625
 Netgear, Inc.* 2,307 60,213 Daktronics, Inc. 2,528 19,263
 Network Equipment Technologies, DTS, Inc.* 1,317 44,831
 Inc.* 2,240 12,342 Echelon Corp.* 2,929 26,273
 Oplink Communications, Inc.* 1,701 31,537 Electro Rent Corp. 1,504 19,747
 Opnext, Inc.* 3,388 7,996 Electro Scientific Industries,
 Palm, Inc.*(1) 12,746 47,925 Inc.* 1,893 24,249
 Parkervision, Inc.* 1,499 2,548 Faro Technologies, Inc.*(1) 1,033 26,600
 PC-Tel, Inc.* 1,868 11,544 ICx Technologies, Inc.*(1) 1,506 10,497
 Plantronics, Inc.(1) 3,356 104,976 Insight Enterprises, Inc.* 2,830 40,639
 Polycom, Inc.* 5,851 178,924 IPG Photonics Corp.* 1,143 16,916
 Powerwave Technologies, Inc.*(1) 4,570 5,712 L-1 Identity Solutions, Inc.* 5,487 48,999
 Riverbed Technology, Inc.*(1) 3,844 109,170 Littelfuse, Inc.*(1) 1,525 57,965
 Seachange International, Inc.* 2,330 16,729 Maxwell Technologies, Inc.* 1,138 14,100
 ShoreTel, Inc.* 3,330 22,011 Measurement Specialties, Inc.* 1,461 21,491
 Sonus Networks, Inc.* 14,300 37,323 Mercury Computer Systems, Inc.* 2,015 27,646
 Sycamore Networks, Inc. 1,305 26,244 Methode Electronics, Inc. 2,847 28,185
 Symmetricom, Inc.* 3,128 18,236 MTS Systems Corp.(1) 910 26,417
 Tekelec* 4,713 85,588 Multi-Fineline Electronix, Inc.* 683 17,594
 UTStarcom, Inc.*(1) 8,620 24,050 Newport Corp.* 2,882 36,025
 Viasat, Inc.*(1) 2,272 78,634 OSI Systems, Inc.*(1) 1,079 30,266
 ------------ Park Electrochemical Corp. 1,262 36,270
 2,145,500 PC Connection, Inc.* 1,259 7,806
 ------------ PC Mall, Inc.* 1,392 7,044
 COMPUTERS & PERIPHERALS -- 0.8% Plexus Corp.* 2,698 97,209
 3Par, Inc.*(1) 1,948 19,480 Power-One, Inc.* 5,330 22,493
 ActivIdentity Corp.* 1,510 4,289 Radisys Corp.* 2,192 19,640
 Adaptec, Inc.* 6,557 21,441 Rofin-Sinar Technologies, Inc.* 1,743 39,427
 Avid Technology, Inc.* 1,517 20,904 Rogers Corp.* 862 25,007
 Compellent Technologies, Inc.* 964 16,918 ScanSource, Inc.* 1,561 44,926
 Cray, Inc.* 2,760 16,422 SMART Modular Technologies (WWH),
 Electronics for Imaging, Inc.* 3,548 41,263 Inc.* 3,190 24,595
 Imation Corp.* 2,568 28,274 Spectrum Control, Inc.* 1,280 14,963
 Immersion Corp.* 1,927 9,635 Synnex Corp.*(1) 1,052 31,097
 Intermec, Inc.* 4,612 65,398 Technitrol, Inc. 3,242 17,118
 Intevac, Inc.* 1,276 17,634 TTM Technologies, Inc.* 3,629 32,225
 Universal Display Corp.*(1) 2,397 28,213



 15


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
SMALL-CAP STRATEGY FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Zygo Corp.* 270 $ 2,492 CSG Systems International, Inc.* 2,400 $ 50,304
 ------------ CyberSource Corp.* 4,304 75,923
 1,454,098 Dynamics Research Corp.* 60 676
 ------------ Euronet Worldwide, Inc.* 3,536 65,168
 INTERNET SOFTWARE & SERVICES -- 1.8% ExlService Holdings, Inc.* 755 12,593
 Ancestry.com, Inc.* 1,750 29,663 Forrester Research, Inc.* 865 26,011
 Archipelago Learning, Inc.* 980 14,288 Gartner, Inc.* 4,641 103,216
 Art Technology Group, Inc.* 10,700 47,187 Global Cash Access Holdings, Inc.* 3,041 24,845
 comScore, Inc.* 1,735 28,957 Heartland Payment Systems, Inc.(1) 2,609 48,527
 Constant Contact, Inc.*(1) 1,783 41,401 iGate Corp. 1,938 18,857
 DealerTrack Holdings, Inc.* 2,678 45,740 infoGROUP, Inc.* 3,267 25,483
 Dice Holdings, Inc.* 990 7,524 Integral Systems, Inc.* 2,349 22,621
 Digital River, Inc.* 2,451 74,265 Lionbridge Technologies, Inc.* 2,610 9,474
 DivX, Inc.* 2,112 15,122 Mantech International Corp. -
 Earthlink, Inc. 7,093 60,574 Class A* 1,471 71,829
 GSI Commerce, Inc.* 2,114 58,494 MAXIMUS, Inc. 1,122 68,363
 InfoSpace, Inc.* 2,274 25,128 MoneyGram International, Inc.* 5,350 20,384
 Innodata Isogen, Inc.*(1) 1,670 6,764 NCI, Inc. - Class A*(1) 722 21,826
 Internap Network Services Corp.* 3,975 22,260 Ness Technologies, Inc.* 3,541 22,344
 Internet Brands, Inc. - Class A*(1) 1,310 12,078 Online Resources Corp.* 2,332 9,398
 Internet Capital Group, Inc.* 2,984 25,215 RightNow Technologies, Inc.* 1,771 31,630
 j2 Global Communications, Inc.*(1) 3,385 79,209 Sapient Corp. 5,720 52,281
 Keynote Systems, Inc. 1,429 16,276 SRA International, Inc. - Class A* 2,900 60,291
 Limelight Networks, Inc.* 2,732 9,999 StarTek, Inc.* 140 973
 Liquidity Services, Inc.* 800 9,232 Syntel, Inc. 915 35,200
 LivePerson, Inc.* 2,460 18,868 Teletech Holdings, Inc.* 2,478 42,324
 LogMeIn, Inc.* 20 414 The Hackett Group, Inc.* 3,913 10,878
 LoopNet, Inc.* 1,892 21,266 Tier Technologies, Inc. - Class B* 600 4,776
 Marchex, Inc. - Class B 2,015 10,297 TNS, Inc.* 1,916 42,727
 MercadoLibre, Inc.* 1,803 86,923 Unisys Corp.*(1) 2,931 102,263
 ModusLink Global Solutions, Inc.* 2,819 23,764 VeriFone Holdings, Inc.*(1) 5,280 106,709
 Move, Inc.*(1) 11,350 23,722 Virtusa Corp.* 1,109 11,434
 NIC, Inc.(1) 3,413 26,860 Wright Express Corp.* 2,666 80,300
 OpenTable, Inc.* 50 1,907 ------------
 Openwave Systems, Inc.* 2,910 6,693 1,506,560
 Perficient, Inc.* 1,416 15,958 ------------
 Rackspace Hosting, Inc.* 4,807 90,035 SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT -- 3.6%
 RealNetworks, Inc.*(1) 6,237 30,125 Actel Corp.* 2,023 28,019
 Saba Software, Inc.*(1) 690 3,416 Advanced Analogic Technologies,
 SAVVIS, Inc.* 2,862 47,223 Inc.* 3,703 12,923
 Stamps.com, Inc.* 2,690 27,169 Advanced Energy Industries, Inc.* 2,212 36,631
 support.com, Inc.* 1,911 6,249 Amkor Technology, Inc.*(1) 7,364 52,063
 Switch And Data Facilities Co., ANADIGICS, Inc.* 5,660 27,508
 Inc.* 1,712 30,405 Applied Micro Circuits Corp.* 4,774 41,200
 TechTarget, Inc.* 1,335 6,982 Atheros Communications, Inc.* 4,686 181,395
 Terremark Worldwide, Inc.* 4,456 31,237 ATMI, Inc.* 1,782 34,410
 The Knot, Inc.* 1,544 12,074 Brooks Automation, Inc.* 4,454 39,284
 United Online, Inc. 6,463 48,343 Cabot Microelectronics Corp.*(1) 1,691 63,971
 ValueClick, Inc.* 5,759 58,396 Cavium Networks, Inc.*(1) 2,814 69,956
 Vocus, Inc.* 1,274 21,722 Ceva, Inc.* 812 9,468
 Web.com Group, Inc.* 849 4,627 Cirrus Logic, Inc.*(1) 4,930 41,363
 Zix Corp.*(1) 4,540 10,487 Cohu, Inc.(1) 2,173 29,922
 ------------ Cymer, Inc.* 1,896 70,721
 1,294,538 Diodes, Inc.* 2,375 53,200
 ------------ DSP Group, Inc.* 1,625 13,536
 IT SERVICES -- 2.1% Entegris, Inc.* 8,600 43,344
 Acxiom Corp.* 4,561 81,824 Entropic Communications, Inc.* 2,520 12,802
 CACI International, Inc. - Class Exar Corp.* 1,560 10,998
 A*(1) 1,873 91,496 FEI Co.*(1) 2,532 58,008
 Cass Information Systems, Inc.(1) 455 14,173 FormFactor, Inc.* 3,671 65,197
 China Information Security Hittite Microwave Corp.* 1,338 58,832
 Technology, Inc.* 2,939 14,842 IXYS Corp.* 1,502 12,827
 CIBER, Inc.* 4,522 16,912
 Computer Task Group, Inc.* 1,060 7,685



 16


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
SMALL-CAP STRATEGY FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Kopin Corp.* 3,018 $ 11,167 Fortinet, Inc.* 760 $ 13,361
 Kulicke & Soffa Industries, Inc.* 5,310 38,497 Informatica Corp.* 6,146 165,082
 Lattice Semiconductor Corp.* 9,640 35,379 Interactive Intelligence, Inc.* 763 14,260
 MEMSIC, Inc.*(1) 3,880 12,377 Jack Henry & Associates, Inc. 5,859 140,968
 Micrel, Inc. 2,206 23,516 JDA Software Group, Inc.* 2,290 63,708
 Microsemi Corp.* 5,552 96,272 Kenexa Corp.*(1) 1,518 20,872
 Microtune, Inc.* 4,887 13,341 Lawson Software, Inc.*(1) 8,737 57,752
 MIPS Technologies, Inc.* 3,870 17,260 Manhattan Associates, Inc.* 1,575 40,131
 MKS Instruments, Inc.* 3,209 62,864 Mentor Graphics Corp.*(1) 7,348 58,931
 Monolithic Power Systems, Inc.* 2,547 56,798 MicroStrategy, Inc. - Class A*(1) 619 52,658
 Netlogic Microsystems, Inc.*(1) 3,154 92,822 Monotype Imaging Holdings, Inc.* 908 8,835
 NVE Corp.* 299 13,545 Net 1 UEPS Technologies, Inc.* 1,631 29,994
 Omnivision Technologies, Inc.* 3,411 58,601 Netscout Systems, Inc.* 2,061 30,482
 Pericom Semiconductor Corp.* 1,293 13,848 NetSuite, Inc.* 1,163 16,910
 Photronics, Inc.*(1) 3,960 20,156 Opnet Technologies, Inc. 1,159 18,683
 PLX Technology, Inc.* 2,083 10,977 Parametric Technology Corp.* 8,377 151,205
 Power Integrations, Inc. 1,504 61,965 Pegasystems, Inc.(1) 869 32,153
 RF Micro Devices, Inc.*(1) 18,210 90,686 Phoenix Technologies, Ltd.* 1,467 4,724
 Rubicon Technology, Inc.*(1) 1,052 21,250 Progress Software Corp.*(1) 2,493 78,355
 Rudolph Technologies, Inc.* 1,437 12,315 PROS Holdings, Inc.*(1) 976 9,643
 Semtech Corp.* 4,120 71,812 QAD, Inc.* 1,518 7,970
 Sigma Designs, Inc.*(1) 1,515 17,771 Quest Software, Inc.* 4,625 82,279
 Silicon Image, Inc.* 4,565 13,786 Radiant Systems, Inc.* 2,301 32,835
 Silicon Storage Technology, Inc.* 3,494 10,622 Renaissance Learning, Inc. 550 8,926
 Skyworks Solutions, Inc.* 11,296 176,218 Rosetta Stone, Inc.* 320 7,610
 Standard Microsystems Corp.*(1) 1,144 26,632 S1 Corp.* 3,317 19,570
 Supertex, Inc.*(1) 605 15,482 Smith Micro Software, Inc.* 2,429 21,472
 Techwell, Inc.* 1,080 20,196 SolarWinds, Inc.* 890 19,277
 Tessera Techonologies, Inc.* 3,446 69,885 Solera Holdings, Inc. 4,885 188,805
 Trident Microsystems, Inc.* 1,490 2,593 SonicWALL, Inc.*(1) 4,241 36,854
 TriQuint Semiconductor, Inc.* 10,935 76,545 Sourcefire, Inc.* 1,778 40,805
 Ultratech, Inc.* 1,551 21,094 SuccessFactors, Inc.* 3,188 60,700
 Veeco Instruments, Inc.*(1) 2,640 114,840 Symvx Technologies, Inc.* 2,355 10,574
 Virage Logic Corp.* 1,500 11,790 Synchronoss Technologies, Inc.* 949 18,382
 Volterra Semiconductor Corp.* 1,702 42,720 Take-Two Interactive Software,
 Zoran Corp.* 3,344 35,981 Inc.*(1) 5,561 54,776
 ------------ Taleo Corp. - Class A* 2,841 73,610
 2,559,181 TeleCommunication Systems, Inc. -
 ------------ Class A*(1) 2,852 20,905
 SOFTWARE -- 4.4% The Ultimate Software Group, Inc.* 1,547 50,974
 ACI Worldwide, Inc.* 2,114 43,570 THQ, Inc.*(1) 5,143 36,052
 Actuate Corp.* 1,933 10,805 TIBCO Software, Inc.* 11,624 125,423
 Advent Software, Inc.*(1) 937 41,931 TiVo, Inc.* 7,510 128,571
 American Software, Inc. - Class A 624 3,625 Tyler Technologies, Inc.* 2,369 44,395
 ArcSight, Inc.*(1) 1,510 42,506 Unica Corp.* 840 7,468
 Ariba, Inc.*(1) 5,799 74,517 Vasco Data Security International,
 AsiaInfo Holdings, Inc.* 2,189 57,965 Inc.* 2,265 18,686
 Blackbaud, Inc.(1) 2,802 70,582 Websense, Inc.* 2,891 65,828
 Blackboard, Inc.*(1) 2,110 87,903 ------------
 Bottomline Technologies, Inc.* 1,877 31,590 3,055,790
 Callidus Software, Inc.* 1,998 7,253 ------------
 China TransInfo Technology Corp.* 30 202 TOTAL INFORMATION TECHNOLOGY 12,553,201
 Chordiant Software, Inc.* 2,613 13,248 ------------
 CommVault Systems, Inc.* 2,791 59,588 MATERIALS -- 4.6%
 Concur Technologies, Inc.*(1) 2,833 116,181 CHEMICALS -- 2.2%
 Deltek, Inc.* 1,655 12,644 A. Schulman, Inc. 1,328 32,496
 DemandTec, Inc.* 1,475 10,251 American Vanguard Corp. 1,064 8,672
 Double-Take Software, Inc.* 1,326 11,815 Ampal-American Israel - Class A* 410 1,140
 Ebix, Inc.* 1,478 23,604 Arch Chemicals, Inc. 1,838 63,209
 Epicor Software Corp.* 3,428 32,772 Balchem Corp.(1) 1,690 41,671
 EPIQ Systems, Inc.* 1,441 17,912 Calgon Carbon Corp.* 3,361 57,540
 Fair Isaac Corp.(1) 3,394 86,004 China Green Agriculture, Inc.*(1) 440 6,160
 FalconStor Software, Inc.* 2,261 7,868 Ferro Corp.* 5,952 52,318



 17


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
SMALL-CAP STRATEGY FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 H.B. Fuller Co. 3,299 $ 76,570 Paramount Gold and Silver Corp.*(1) 2,470 $ 3,433
 Hawkins, Inc.(1) 360 8,712 RTI International Metals, Inc.* 1,982 60,114
 ICO, Inc. 1,335 10,787 Stillwater Mining Co.*(1) 3,144 40,809
 Innophos Holdings, Inc. 975 27,202 Universal Stainless & Alloy* 756 18,136
 Innospec, Inc.* 1,932 21,948 US Gold Corp.* 3,810 10,287
 Koppers Holdings, Inc.(1) 1,404 39,761 Worthington Industries, Inc. 3,969 68,624
 Landec Corp.* 1,667 11,052 ------------
 LSB Industries, Inc.* 1,631 24,856 723,545
 Minerals Technologies, Inc. 1,255 65,059 ------------
 NewMarket Corp. 646 66,532 PAPER & FOREST PRODUCTS -- 0.8%
 NL Industries, Inc. 842 7,224 Buckeye Technologies, Inc.* 3,118 40,783
 Olin Corp. 5,285 103,692 Clearwater Paper Corp.* 737 36,297
 OM Group, Inc.* 2,126 72,029 Deltic Timber Corp.(1) 865 38,103
 Omnova Solutions, Inc.* 2,970 23,314 Domtar Corp.*(1) 2,770 178,416
 PolyOne Corp.* 6,029 61,737 Glatfelter(1) 3,523 51,048
 Quaker Chemical Corp.(1) 732 19,845 KapStone Paper and Packaging Corp.* 2,200 26,114
 Rockwood Holdings, Inc.* 3,442 91,626 Louisiana-Pacific Corp.* 9,036 81,776
 Sensient Technologies Corp. 3,382 98,281 Neenah Paper, Inc. 1,201 19,024
 ShengdaTech, Inc.* 1,854 13,886 Schweitzer-Mauduit International,
 Solutia, Inc.* 8,445 136,049 Inc. 1,344 63,921
 Spartech Corp.* 2,358 27,589 Wausau Paper Corp.* 3,841 32,802
 Stepan Co. 409 22,859 ------------
 STR Holdings, Inc.* 550 12,925 568,284
 W.R. Grace & Co.*(1) 4,965 137,828 ------------
 Westlake Chemical Corp. 1,578 40,697 TOTAL MATERIALS 3,231,275
 Zep, Inc.(1) 1,674 36,627 ------------
 Zoltek Cos., Inc.*(1) 1,227 11,828 TELECOMMUNICATION SERVICES -- 0.8%
 ------------ DIVERSIFIED TELECOMMUNICATION SERVICES -- 0.6%
 1,533,721 AboveNet, Inc.* 1,040 52,759
 ------------ Alaska Communications Systems
 CONSTRUCTION MATERIALS -- 0.1% Group, Inc.(1) 3,324 26,991
 Headwaters, Inc.* 3,605 16,547 Atlantic Tele-Network, Inc. 480 21,566
 Texas Industries, Inc.(1) 1,560 53,305 Cbeyond, Inc.*(1) 1,929 26,389
 United States Lime & Minerals, Cincinnati Bell, Inc.*(1) 15,480 52,787
 Inc.* 196 7,579 Cogent Communications Group,
 US Concrete, Inc.*(1) 3,565 1,355 Inc.*(1) 2,453 25,536
 ------------ Consolidated Communications
 78,786 Holdings, Inc.(1) 1,909 36,195
 ------------ General Communication, Inc. -
 CONTAINERS & PACKAGING -- 0.5% Class A* 1,922 11,090
 AEP Industries, Inc.* 297 7,728 Global Crossing, Ltd.*(1) 2,040 30,906
 Boise, Inc.* 2,720 16,674 HickoryTech Corp. 460 4,062
 BWAY Holding Co.* 670 13,467 Iowa Telecommunications Services,
 Graphic Packaging Holding Co.* 6,460 23,321 Inc. 1,937 32,348
 Myers Industries, Inc. 2,122 22,239 Neutral Tandem, Inc.*(1) 2,220 35,475
 Rock-Tenn Co. - Class A(1) 2,502 114,016 PAETEC Holdings Corp.* 9,300 43,524
 Silgan Holdings, Inc. 2,150 129,494 Premiere Global Services, Inc.*(1) 3,308 27,324
 ------------ SureWest Communications* 110 945
 326,939 ------------
 ------------ 427,897
 METALS & MINING -- 1.0% ------------
 A.M. Castle & Co.* 660 8,633 WIRELESS TELECOMMUNICATION SERVICES -- 0.2%
 Allied Nevada Gold Corp.* 3,783 62,684 NTELOS Holdings Corp. 2,045 36,380
 AMCOL International Corp.(1) 1,600 43,520 Shenandoah Telecommunications Co. 1,786 33,577
 Brush Engineered Materials, Inc.* 1,692 38,189 Syniverse Holdings, Inc.* 4,370 85,084
 Century Aluminum Co.*(1) 3,650 50,224 USA Mobility, Inc.* 898 11,378
 China Precision Steel, Inc.*(1) 790 1,659 ------------
 Coeur d'Alene Mines Corp. - Class 166,419
 A*(1) 5,270 78,945 ------------
 General Moly, Inc.* 6,050 20,086 TOTAL TELECOMMUNICATION SERVICES 594,316
 General Steel Holdings, Inc.*(1) 745 3,062 ------------
 Haynes International, Inc.(1) 964 34,251 UTILITIES -- 3.1%
 Hecla Mining Co.*(1) 16,208 88,658 ELECTRIC UTILITIES -- 1.0%
 Horsehead Holding Corp.* 2,838 33,602 ALLETE, Inc. 1,856 62,139
 Kaiser Aluminum Corp.(1) 991 38,223 Central Vermont Public Service
 Olympic Steel, Inc.(1) 625 20,406 Corp. 874 17,628
 Cleco Corp. 3,785 100,492



 18


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
SMALL-CAP STRATEGY FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE TOTAL INVESTMENTS (2)-- 131.9%
 ------ ----- (Cost $76,810,062)+ $ 92,589,421
 El Paso Electric Co.* 2,620 $ 53,972 LIABILITIES IN EXCESS OF OTHER ASSETS -- (31.9)% (22,372,225)
 IDACORP, Inc. 3,122 108,084 ------------
 MGE Energy, Inc.(1) 1,869 66,088 NET ASSETS -- 100.0% $ 70,217,196
 PNM Resources, Inc. 6,217 77,899 ============
 Portland General Electric Co. 4,707 90,892
 The Empire District Electric Co. 2,106 37,950 + The cost for Federal income tax purposes is $78,376,709. At
 UIL Holdings Corp.(1) 1,656 45,540 March 31, 2010, net unrealized appreciation was $14,212,712.
 UniSource Energy Corp. 1,965 61,780 This consisted of aggregate gross unrealized appreciation
 Unitil Corp. 260 6,045 for all securities for which there was an excess of market
 ------------ value over tax cost of $15,878,455, and aggregate gross
 728,509 unrealized depreciation for all securities for which there
 ------------ was an excess of tax cost over market value of $1,665,743.
 GAS UTILITIES -- 1.3% * Non-income producing security.
 Chesapeake Utilities Corp. 447 13,321 (1) Security partially or fully on loan.
 New Jersey Resources Corp. 3,127 117,450 (2) At March 31, 2010, the market value of securities on loan
 Nicor, Inc.(1) 3,049 127,814 for the Small-Cap Strategy was $16,527,565.
 Northwest Natural Gas Co. 2,438 113,611
 Piedmont Natural Gas Co. 5,454 150,421
 South Jersey Industries, Inc.(1) 2,521 105,857
 Southwest Gas Corp. 2,988 89,401
 The Laclede Group, Inc. 1,658 55,908
 WGL Holdings, Inc. 4,230 146,569
 ------------
 920,352
 ------------
 INDEPENDENT POWER PRODUCERS & ENERGY TRADERS -- 0.0%
 US Geothermal, Inc.*(1) 3,140 2,857
 ------------
 MULTI-UTILITIES -- 0.4%
 Avista Corp. 3,608 74,722
 Black Hills Corp.(1) 2,678 81,277
 CH Energy Group, Inc. 1,285 52,479
 NorthWestern Corp. 2,279 61,100
 ------------
 269,578
 ------------
 WATER UTILITIES -- 0.4%
 American States Water Co. 2,167 75,195
 Artesian Resources Corp. - Class A 290 5,121
 Cadiz, Inc.*(1) 906 11,570
 California Water Service Group 1,894 71,233
 Connecticut Water Service, Inc. 343 7,982
 Consolidated Water Co., Ltd. 1,087 14,762
 Middlesex Water Co. 991 16,897
 Pennichuck Corp. 840 19,748
 SJW Corp. 658 16,726
 Southwest Water Co. 1,270 13,259
 York Water Co. 600 8,250
 ------------
 260,743
 ------------
 TOTAL UTILITIES 2,182,039
 ------------
 TOTAL COMMON STOCK
 (Cost $53,927,935) 69,708,038
 ------------
EXCHANGE-TRADED FUNDS -- 0.6%
 iShares Russell 2000 Index Fund
 (Cost $427,947) 6,300 427,203
 ------------
SHORT TERM INVESTMENTS -- 7.0%
 BlackRock Liquidity Funds TempFund
 Portfolio - Institutional Series
 (Cost $4,880,271) 4,880,271 4,880,271
 ------------
SHORT-TERM INVESTMENT HELD AS COLLATERAL
 FOR LOANED SECURITIES -- 25.0%
 Institutional Money Market Trust
 (Cost $17,573,909) 17,573,909 17,573,909
 ------------



 19


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
SMALL-CAP STRATEGY FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)

The following table provides a summary of inputs used to value the Fund's net assets as of March 31, 2010:

 LEVEL 2 - LEVEL 3 -
 TOTAL VALUE AT SIGNIFICANT SIGNIFICANT
 MARCH 31, LEVEL 1 - OBSERVABLE UNOBSERVABLE
 2010 QUOTED PRICES INPUTS INPUTS
 --------------------------------------------------------------------
INVESTMENTS IN SECURITIES:
Common Stocks $ 69,708,038 $ 69,708,038 $ -- $ --
Exchange-Traded Funds 427,203 427,203 -- --
Short-Term Investments 22,454,180 22,454,180 -- --
 --------------------------------------------------------------------
Total $ 92,589,421 $ 92,589,421 $ -- $ --
 --------------------------------------------------------------------


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)
 (Showing Percentage of Net Assets)
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
COMMON STOCK -- 84.0% Macquarie Group, Ltd. 13,340 $ 578,409
 ARGENTINA -- 0.2% Macquarie Infrastructure Group 95,926 98,590
 Banco Macro SA - ADR 4,200 $ 125,538 Metcash, Ltd. 21,650 82,250
 BBVA Banco Frances SA - ADR 5,120 37,683 Mirvac Group 73,368 99,306
 Cresud SA - ADR(1) 14,426 201,099 National Australia Bank, Ltd. 27,649 698,240
 Grupo Financiero Galicia SA - Newcrest Mining, Ltd. 4,447 133,932
 ADR* 8,000 47,600 OneSteel, Ltd. 40,528 145,043
 IRSA Inversiones y Orica, Ltd. 7,538 185,313
 Representaciones SA - GDR 3,700 39,960 Origin Energy, Ltd. 56,430 857,009
 MercadoLibre, Inc.* 3,800 183,198 OZ Minerals Ltd.* 60,759 63,840
 Petrobras Energia SA - ADR 5,618 93,708 Pan Pacific Petroleum NL 37,850 8,336
 Telecom Argentina SA - ADR* 10,150 190,211 Primary Health Care, Ltd. 318 1,299
 Transportadora de Gas del Sur Qantas Airways, Ltd.* 37,254 97,089
 SA - ADR 16,900 57,291 QBE Insurance Group, Ltd. 14,593 278,940
 ------------ Rio Tinto, Ltd. 13,151 946,132
 TOTAL ARGENTINA 976,288 Santos, Ltd. 69,379 933,338
 ------------ Sims Metal Management, Ltd. 5,364 106,617
 AUSTRALIA -- 3.8% Sonic Healthcare, Ltd. 2,951 38,914
 AGL Energy, Ltd. 4,015 55,376 Stockland Corp., Ltd. 24,171 88,500
 Alumina, Ltd. 31,910 50,512 Suncorp-Metway, Ltd. 87,367 684,669
 Alumina, Ltd. - ADR 4,000 25,040 Tabcorp Holdings, Ltd. 11,254 71,258
 Amcor, Ltd. 2,978 17,462 Tatts Group, Ltd. 19,943 45,020
 AMP, Ltd. 33,004 189,591 Telstra Corp., Ltd. 23,380 64,149
 Asciano Group* 52,942 92,063 Thorn Group, Ltd. 17,840 18,335
 ASX, Ltd. 1,358 42,295 Toll Holdings, Ltd. 22,111 150,553
 Australia & New Zealand UXC, Ltd. 88,256 41,304
 Banking Group, Ltd. 47,082 1,095,674 Washington H Soul Pattinson
 Australian Pharmaceutical And Co., Ltd. 5,219 68,486
 Industries, Ltd. 49,772 27,632 Wesfarmers, Ltd. 44,099 1,286,460
 AXA Asia Pacific Holdings, Wesfarmers, Ltd. - PPS 1,611 47,115
 Ltd. 9,173 53,199 Westfield Group 16,216 179,460
 Bank of Queensland, Ltd. 5,738 62,080 Westpac BankingCorp., Ltd. 24,523 626,498
 Bendigo and Adelaide Bank, Woodside Petroleum, Ltd. 3,125 134,493
 Ltd. 15,525 142,465 Woolworths, Ltd. 4,949 127,161
 BHP Billiton, Ltd. 58,932 2,357,302 WorleyParsons, Ltd. 7,121 166,305
 BlueScope Steel, Ltd.* 73,740 196,912 ------------
 Boral, Ltd. 13,495 69,473 TOTAL AUSTRALIA 16,787,084
 Brambles, Ltd. 7,658 51,721 ------------
 Brickworks, Ltd. 2,651 32,112 AUSTRIA -- 0.3%
 Caltex Australia, Ltd. 3,705 38,453 Erste Bank der oesterreichischen
 CFS Retail Property Trust 112,989 194,408 Sparkassen AG 12,047 506,040
 Coca-Cola Amatil, Ltd. 1,213 12,523 Oesterreichische
 Cochlear, Ltd. 614 41,041 Elektrizitaetswirtschafts
 Commonwealth Bank of Australia 21,943 1,133,455 AG - Class A* 543 21,555
 Computershare, Ltd. 4,043 46,450 OMV AG 19,900 746,673
 Crown, Ltd. 15,669 117,617 Strabag SE 781 19,852
 CSL, Ltd. 3,111 104,001 Voestalpine AG 2,764 111,810
 Data#3, Ltd. 1,481 10,845 ------------
 Dexus Property Group 42,106 31,297 TOTAL AUSTRIA 1,405,930
 Fairfax Media, Ltd. 131,795 217,695 ------------
 Fortescue Metals Group, Ltd.* 3,707 16,669 BELGIUM -- 0.4%
 Foster's Group, Ltd. 10,490 50,922 Agfa Gevaert NV* 17,702 137,000
 General Property Trust 34,576 18,244 Anheuser-Busch InBev NV 697 35,110
 Goodman Fielder, Ltd. 44,354 58,203 Barco NV* 1,740 78,448
 Goodman Group 44,527 26,763 Belgacom SA 1,917 74,880
 Hillgrove Resources, Ltd. 661,515 221,569 Delhaize Group 323 25,958
 Hills Industries, Ltd 51,427 124,587 Delhaize Group - ADR 2,400 193,176
 Incitec Pivot, Ltd. 44,940 143,100 Fortis* 24,329 86,619
 Insurance Australia Group, Groupe Bruxelles Lambert SA 383 33,842
 Ltd. 51,068 181,827 KBC Groupe* 4,332 209,789
 Leighton Holdings, Ltd. 1,485 53,146 Nationale A Portefeuille 305 15,984
 Lend Lease Corp., Ltd.* 4,830 38,383 Punch International NV* 266 1,861
 Lihir Gold, Ltd. 7,036 19,563 Recticel SA 665 7,033
 Macquarie Airports 58,944 167,138 RESILUX* 142 10,478
 Macquarie Atlas Roads Group* 6,855 5,913 Retail Estates 18 1,025



 1


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Solvay SA 4,277 $ 439,669 Marfrig Frigorificose e
 UCB SA 2,098 89,587 Comercio de Alimentos SA 6,150 $ 69,788
 Umicore 4,251 148,450 MMX Mineracao e Metalicos SA* 1,130 8,540
 Zetes Industries SA 488 10,974 MMX Mineracao e Metalicos SA* 2,000 15,104
 ------------ MRV Engenharia e
 TOTAL BELGIUM 1,599,883 Participacoes SA 6,600 46,391
 ------------ Natura Cosmeticos SA 4,800 97,897
 BERMUDA -- 0.0% Petroleo Brasileiro SA - ADR 41,649 1,852,964
 Credicorp, Ltd. 1,300 114,634 Redecard SA 6,500 120,252
 Northern Offshore, Ltd.* 19,000 29,092 Rossi Residencial SA 38,383 265,477
 ------------ Souza Cruz SA 1,100 38,462
 TOTAL BERMUDA 143,726 Tele Norte Leste
 ------------ Participacoes SA 4,100 86,895
 BOTSWANA -- 0.2% Telecomunicacoes de Sao Paulo
 Barclays Bank of Botswana, SA 1,000 18,315
 Ltd.(1) 134,600 135,004 Tim Participacoes SA* 5,300 20,832
 Botswana Insurance Holdings, Totvs SA 3,300 198,184
 Ltd.(1) 60,900 94,139 Tractebel Energia SA 2,700 30,137
 First National Bank of Usinas Siderurgicas de Minas
 Botswana(1) 274,700 103,322 Gerais SA 1,125 39,614
 Letshego Holdings, Ltd.(1) 19,400 45,641 Vale SA - ADR 4,292 138,160
 Sechaba Breweries, Ltd.(1) 109,703 210,355 Vivo Participacoes SA - ADR 10,413 282,296
 Standard Chartered Bank of Weg SA 8,800 94,515
 Botswana, Ltd. 41,700 107,331 ------------
 ------------ TOTAL BRAZIL 7,484,736
 TOTAL BOTSWANA 695,792 ------------
 ------------ BULGARIA -- 0.1%
 BRAZIL -- 1.7% Bulgarian American Credit
 All America Latina Logistica Bank JSCO*(1) 2,600 27,675
 SA 5,494 50,233 Central Cooperative Bank AD* 20,482 18,603
 Amil Participacoes SA 2,108 16,358 Chimimport AD* 10,600 19,233
 B2W Companhia Global do Varejo 1,500 32,390 Doverie Holding AD*(1) 11,040 24,560
 Banco do Brazil SA 27,600 461,565 Olovno Tzinkov Komplex AD*(1) 900 8,341
 BM&F BOVESPA SA 18,707 125,600 Petrol AD*(1) 37,250 104,043
 Brasil Telecom SA* 1,462 12,965 Sopharma AD* 14,000 38,581
 BRF Brasil Food SA 6,925 187,187 ------------
 Centrais Eletricas TOTAL BULGARIA 241,036
 Brasileiras SA - ELETROBRAS 6,715 99,308 ------------
 Cia Brasileira de CANADA -- 4.2%
 Distribuicao Grupo Pao de Aastra Technologies, Ltd. 3,400 107,960
 Acucar - ADR 2,017 135,603 Agnico-Eagle Mines, Ltd. 319 17,821
 Cia de Bebidas das Americas 1,203 94,395 Agrium, Inc. (New York
 Cia de Concessoes Rodoviarias 2,100 45,924 Exchange) 900 63,567
 Cia Energetica de Minas Gerais 1,785 23,086 Agrium, Inc. (Toronto
 Cia Siderurgica Nacional SA 8,000 159,429 Exchange) 864 61,096
 Cia Siderurgica Nacional SA - Bank of Montreal (New York
 ADR 10,393 414,993 Exchange) 3,840 233,088
 Companhia de Bebidas das Bank of Montreal (Toronto
 Americas - ADR 4,973 455,825 Exchange) 3,667 222,587
 Cosan SA Industria e Comercio* 4,200 51,014 Bank of Nova Scotia (New York
 CPFL Energia SA 1,500 30,104 Exchange) 8,012 400,760
 Cyrela Brazil Realty SA 30,529 357,589 Bank of Nova Scotia (Toronto
 Duratex SA 13,200 112,081 Exchange) 8,336 417,600
 EDP Energias do Brasil SA 1,500 28,788 Barrick Gold Corp. 14,797 567,754
 Empresa Brasileira de BCE, Inc. (New York Exchange) 3,688 108,243
 Aeronautica SA 15,200 90,173 BCE, Inc. (Toronto Exchange) 5,200 152,828
 Fibria Celulose SA* 2,086 45,184 Biovail Corp. 1,061 17,793
 Fibria Celulose SA - ADR* 18,218 398,610 Bombardier, Inc. - Class B 58,874 361,133
 Gafisa SA 6,800 46,268 Brookfield Asset Management,
 Global Village Telecom Inc. - Class A 2,009 51,069
 Holding SA* 2,500 81,044 Brookfield Properties Corp. 2,956 45,404
 Gol Linhas Aereas CAE, Inc. 2,102 20,537
 Inteligentes SA 9,697 120,146 Calian Technologies, Ltd. 1,000 17,890
 LLX Logistica SA* 2,000 9,458
 Localiza Rent A Car SA 2,700 28,391
 Lojas Renner SA 14,400 331,021
 Lupatech SA* 1,200 16,181



 2


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Cameco Corp. 581 $ 15,925 Industrial Alliance Insurance
 Cameco Corp. (Toronto and Financial Services, Inc. 1,124 $ 38,734
 Exchange) 1,400 38,334 Inmet Mining Corp. 700 40,671
 Canadian Imperial Bank of Intact Financial Corp. 2,369 104,519
 Commerce (New York Ivanhoe Mines, Ltd.* 3,996 69,836
 Exchange) 3,998 291,854 Kinross Gold Corp. 1,932 33,042
 Canadian Imperial Bank of Loblaw Cos., Ltd. 2,018 74,529
 Commerce (Toronto Exchange) 1,289 94,170 Lundin Mining Corp.* 7,500 39,802
 Canadian National Railway Co. Magna International, Inc. -
 (New York Exchange) 733 44,413 Class A 700 43,295
 Canadian National Railway Co. Magna International, Inc. -
 (Toronto Exchange) 1,700 103,173 Class A (Toronto Exchange)* 2,700 167,080
 Canadian Natural Resources, Manulife Financial Corp. (New
 Ltd. (New York Exchange) 1,400 103,616 York Exchange) 11,394 224,348
 Canadian Natural Resources, Manulife Financial Corp.
 Ltd. (Toronto Exchange) 618 45,757 (Toronto Exchange) 60,638 1,196,461
 Canadian Oil Sands Trust 685 20,537 Metro, Inc. - Class A 4,400 182,429
 Canadian Pacific Railway, National Bank of Canada 2,222 135,291
 Ltd. (New York Exchange) 900 50,616 Niko Resources, Ltd. 400 42,664
 Canadian Pacific Railway, North American Energy
 Ltd. (Toronto Exchange) 5,417 305,291 Partners, Inc.* 3,005 28,818
 Canadian Tire Corp., Ltd. Onex Corp. 1,500 42,667
 Class A 2,300 125,547 Penn West Energy Trust 4,561 96,328
 Canadian Utilities, Ltd. - Potash Corp. of Saskatchewan,
 Class A 900 43,509 Inc. 2,840 339,128
 Cenovus Energy, Inc. 7,252 189,431 Power Corp. of Canada 6,600 199,238
 CGI Group, Inc. - Class A Power Financial Corp. 1,400 46,177
 (New York Exchange)* 3,100 46,221 Provident Energy Trust 5,826 44,918
 CGI Group, Inc. - Class A Research In Motion Ltd.* 1,100 81,500
 (Toronto Exchange)* 45,400 679,447 Rona, Inc.* 3,800 57,394
 CI Financial Corp. 1,700 35,987 Royal Bank of Canada (New
 Empire Co., Ltd. - Class A 3,900 202,286 York Exchange) 10,192 594,703
 Enbridge, Inc. (New York Royal Bank of Canada (Toronto
 Exchange) 1,312 62,648 Exchange) 5,745 336,221
 Enbridge, Inc. (Toronto Saputo, Inc. 1,400 40,774
 Exchange) 2,400 114,465 Sherritt International Corp. 9,400 74,597
 EnCana Corp. (New York Silver Wheaton Corp. (New
 Exchange) 10,100 314,242 York Exchange)* 3,200 50,176
 EnCana Corp. (Toronto Silver Wheaton Corp. (Toronto
 Exchange) 10,561 328,585 Exchange)* 2,532 39,763
 Enerplus Resources Fund (New Sino-Forest Corp.* 6,119 119,892
 York Exchange) 610 14,463 Sun Life Financial, Inc. (New
 Enerplus Resources Fund York Exchange) 4,798 154,160
 (Toronto Exchange) 4,000 94,796 Sun Life Financial, Inc.
 Ensign Energy Services, Inc. 7,000 101,314 (Toronto Exchange) 13,227 425,468
 Fairfax Financial Holdings, Suncor Energy, Inc. 6,092 198,118
 Ltd. (OTC) 185 69,382 Talisman Energy, Inc. (New
 Fairfax Financial Holdings, York Exchange) 2,833 48,331
 Ltd. (Toronto Exchange) 700 263,211 Talisman Energy, Inc.
 First Quantum Minerals, Ltd. 100 8,228 (Toronto Exchange) 25,002 427,593
 George Weston, Ltd. 1,614 111,478 Tech Resources, Ltd..* 2,800 121,968
 Gildan Activewear, Inc. 1,300 34,201 Teck Resources, Ltd. - Class B* 14,948 651,257
 Goldcorp, Inc. 5,557 207,639 TELUS Corp. 1,100 39,402
 Great-West Lifeco, Inc. 1,600 45,937 The Data Group Income Fund 2,300 19,860
 Groupe Aeroplan, Inc. 3,454 36,218 The Toronto-Dominion Bank
 Husky Energy, Inc. 16,900 484,711 (New York Exchange) 7,213 537,946
 IAMGOLD Corp. (New York The Toronto-Dominion Bank
 Exchange) 1,879 24,840 (Toronto Exchange) 26,809 1,998,170
 IAMGOLD Corp. (Toronto Thomson Reuters Corp. 10,275 373,912
 Exchange) 1,439 19,127 Tim Hortons, Inc. 2,000 65,101
 IGM Financial, Inc. 1,129 49,578 TMX Group, Inc. 1,000 29,459
 TransAlta Corp. 784 17,287



 3


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 TransCanada Corp. 6,418 $ 235,926 Sonda SA 22,877 $ 35,531
 TransCanada Corp. (Toronto Vina Concha y Toro SA - ADR 1,100 49,390
 Exchange) 16,855 617,676 ------------
 TVA Group, Inc. - B Shares 1,100 16,311 TOTAL CHILE 3,789,176
 Velan, Inc. (ASX) 700 10,993 ------------
 Viterra, Inc.* 3,104 28,851 CHINA -- 1.8%
 Viterra, Inc. (Toronto Air China, Ltd. - Class H* 312,000 322,277
 Exchange)* 1,200 11,331 Alibaba.com, Ltd. 19,000 38,224
 Yamana Gold, Inc. 3,900 38,415 Anhui Conch Cement Co., Ltd.
 Yamana Gold, Inc. (Toronto - Class H 4,000 26,429
 Exchange) 28,700 283,991 Baidu, Inc.- ADR* 300 179,100
 Yellow Pages Income Fund 15,302 92,657 Bank of China, Ltd. - Class H 597,126 318,395
 ------------ Bank of Communications Co.,
 TOTAL CANADA 18,717,485 Ltd. - Class H 313,000 372,895
 ------------ China Citic Bank - Class H 84,000 62,965
 CAYMAN ISLANDS -- 0.0% China Coal Energy Co. - Class H 45,000 70,245
 Tingyi Cayman Islands Holding China Communications Construction
 Corp. 30,000 70,941 Co., Ltd. - Class H 50,000 47,203
 ------------ China Construction Bank Corp.
 TOTAL CAYMAN ISLANDS 70,941 - Class H 1,157,718 948,332
 ------------ China Eastern Airlines Corp,
 CHILE -- 0.8% Ltd. - Class H* 74,000 37,742
 Administradora de Fondos de China Huiyuan Juice Group,
 Pensiones Provida SA 31,000 95,703 Ltd. - Class H 29,000 20,804
 AES Gener SA 130,000 58,218 China International Marine
 Almendral SA 371,854 37,558 Containers Co., Ltd. -
 Antarchile SA 6,794 122,998 Class B 39,000 54,701
 Banco de Chile 1,606,165 153,378 China Medical Technologies,
 Banco de Credito e Inversiones 2,387 92,342 Inc. - ADR 1,000 13,620
 Banco Santander Chile 876,218 57,524 China Merchants Bank Co.,
 Banco Santander Chile - ADR 1,360 92,779 Ltd. - Class H 33,052 89,396
 CAP SA 3,900 124,711 China Molybdenum Co., Ltd. 162,000 135,622
 Centros Comerciales China Oilfield Services, Ltd.
 Sudamericanos SA 49,700 195,106 - Class H 30,000 44,048
 Cia Cervecerias Unidas SA - China Pacific Insurance Group
 ADR 1,000 37,510 Co., Ltd.* 57,800 256,087
 Cia General de Electricidad 17,400 109,424 China Railway Construction
 Cia Sudamericana de Vapores Corp., Ltd. - Class H 26,900 33,156
 SA* 80,899 65,058 China Railway Group, Ltd. -
 Colbun SA 349,247 89,516 Class H* 44,000 31,735
 Empresa Nacional de China Shenhua Energy Co.,
 Electricidad SA 100,176 156,922 Ltd. - Class H 144,500 624,397
 Empresa Nacional de China Shipping Development
 Electricidad SA - ADR 1,100 51,689 Co., Ltd. - Class H 26,000 42,461
 Empresa Nacional de China Sky Chemical Fibre Co.,
 Telecomunicaciones SA 13,550 184,342 Ltd.* 112,000 14,411
 Empresas CMPC SA 5,225 221,446 China Southern Airlines Co.,
 Empresas Copec SA 21,946 328,301 Ltd. - Class H* 81,000 36,200
 Enersis SA 294,355 117,815 China Telecom Corp., Ltd.-
 Enersis SA - ADR 10,597 211,834 Class H 306,000 150,946
 Enersur SA 12,100 51,942 China Yurun Food Group, Ltd. 38,000 115,993
 Grupo Security SA 131,265 37,772 Ctrip.com International, Ltd.
 La Polar SA 13,300 73,248 - ADR* 2,800 109,760
 Lan Airlines SA 8,726 154,813 Datang International Power
 Madeco SA - ADR* 1,718 9,020 Generation Co., Ltd. - Class H 48,000 21,761
 Masisa SA 125,000 18,580 Dazhong Transportation Group
 Parque Arauco SA 95,300 127,127 Co., Ltd. - Class B 75,600 65,772
 Quinenco SA 15,702 38,301 Focus Media Holding, Ltd. - ADR* 3,300 60,258
 Ripley Corp. SA 46,300 38,734 Golden Eagle Retail Group, Ltd. 47,000 93,948
 S.A.C.I. Falabella 53,188 312,195 Harbin Power Equipment Co.,
 Sigdo Koppers SA 60,400 58,702 Ltd. - Class H 24,000 19,814
 Sociedad de Inversiones Pampa Industrial & Commerical Bank
 Calichera SA - Class A 60,000 97,875 of China - Class H 1,410,104 1,075,161
 Sociedad Matriz Banco de
 Chile - Class B 516,983 81,772



 4


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Inner Mongolia Yitai Coal Co. Grupo de Inversiones
 - Class B 7,000 $ 65,303 Suramericana SA 3,800 $ 55,146
 KWG Property Holding, Ltd. 279,500 203,031 Grupo Nacional de Chocolates SA 13,200 146,655
 Maanshan Iron & Steel - Interconexion Electrica SA 14,278 93,872
 Class H 46,000 26,661 Inversiones Argos SA 9,000 92,221
 Mindray Medical Isagen SA ESP 46,700 55,261
 International, Ltd. 261 9,506 Proenergia Internacional SA 2,000 --
 Netease.com - ADR* 2,000 70,940 Promigas SA(1) 2,000 36,389
 Parkson Retail Group, Ltd. 35,000 60,405 ------------
 Perfect World Co., Ltd. - ADR* 3,182 119,166 TOTAL COLOMBIA 1,234,610
 PICC Property & Casualty Co., ------------
 Ltd. - Class H* 54,000 55,014 CROATIA -- 0.1%
 Ping An Insurance Group Co. Atlantska Plovidba DD* 712 129,228
 of China, Ltd. - Class H 43,500 374,814 Dalekovod DD* 340 22,763
 Semiconductor Manufacturing Ericsson Nikola Tesla 200 54,861
 International Corp.* 386,000 49,715 Hrvatske Telekomunikacije DD 2,950 176,414
 Shandong Weigao Group Medical Institut IGH 20 9,447
 Polymer Co., Ltd. - Class H 30,000 125,189 Koncar-Elektroindustrija DD* 920 78,701
 Shanghai Electric Group Co., Podravka DD* 1,000 61,551
 Ltd. - Class H 90,000 43,816 Privredna Banka Zagreb DD*(1) 830 92,598
 Shanghai Lujiazui Finance & Tankerska Plovidba DD 40 11,381
 Trade Zone Development VIRO Tvornica Secera* 370 25,368
 Co., Ltd. - Class B 24,600 45,436 ------------
 Shanghai Zhenhua Heavy Industry TOTAL CROATIA 662,312
 Co., Ltd. - Class B 62,400 47,424 ------------
 Shimao Property Holdings, Ltd. 116,500 214,267 CYPRUS -- 0.0%
 Sina Corp.* 1,000 37,690 Bank of Cyprus Public Co., Ltd 2,276 14,387
 Sinopec Shanghai Petrochemical ------------
 Co., Ltd. - Class H 54,000 21,421 TOTAL CYPRUS 14,387
 Sinopharm Group Co.* 4,800 21,576 ------------
 Suntech Power Holdings Co., CZECH REPUBLIC -- 0.4%
 Ltd. - ADR* 1,900 26,638 CEZ AS 12,500 590,476
 Tencent Holdings, Ltd. 8,600 172,570 Komercni Banka AS 4,112 834,501
 Want Want China Holdings, Ltd. 178,249 126,497 Pegas Nonwovens SA 2,000 47,802
 Weichai Power Co., Ltd. 20,000 167,434 Philip Morris CR AS 170 89,529
 Yangzijiang Shipbuilding Telefonica 02 Czech Republic AS 6,222 145,303
 Holdings, Ltd. 58,000 48,093 Unipetrol AS* 12,200 105,266
 Yantai Changyu Pioneer Wine ------------
 Co. - Class B 7,000 58,241 TOTAL CZECH REPUBLIC 1,812,877
 Yanzhou Coal Mining Co., Ltd. ------------
 - Class H 22,000 52,930 DENMARK -- 0.5%
 Zhejiang Expressway Co., Ltd. A P Moller - Maersk A/S - Class B 57 434,341
 - Class H 182,000 164,320 A P Moller-Maersk A/S - Class A 16 116,521
 Zijin Mining Group Co., Ltd. Carlsberg A/S - Class B 3,174 266,391
 - Class H 206,000 162,375 Danisco A/S 1,270 94,700
 ZTE Corp. - Class H 2,600 15,756 Danske Bank A/S* 43,327 1,065,921
 ------------ DSV A/S 1,997 35,688
 TOTAL CHINA 8,120,086 Novo Nordisk A/S - Class B 3,187 247,302
 ------------ PER Aarsleff A/S - Class B 200 17,925
 COLOMBIA -- 0.3% Sydbank A/S* 1,644 44,084
 Almacenes Exito SA 10,754 96,322 ------------
 Banco de Bogota SA 3,110 60,338 TOTAL DENMARK 2,322,873
 BanColumbia SA - ADR 4,000 182,640 ------------
 Cementos Argos SA 7,800 48,280 EGYPT -- 0.3%
 Corporacion Financiera Alexandria Mineral Oils Co. 4,000 30,883
 Colombiana SA 2,900 42,055 Arab Cotton Ginning* 35,200 25,956
 Corporacion Financiera Commercial International Bank 18,150 214,464
 Colombiana SA* 97 759 Eastern Tobacco Co. 2,600 58,970
 Ecopetrol SA 134,800 188,260 Egypt Kuwait Holding Co. 30,249 68,060
 Empresa de Telecomunicaciones Egyptian Co. for Mobile Services 1,400 54,568
 de Bogota 116,000 62,448 Egyptian for Tourism Resorts* 60,000 23,538
 Grupo Aval Acciones Y Valores 158,000 73,964 Egyptian International
 Pharmaceutical Industrial Co. 7,900 52,758
 El Ezz Aldekhela Steel -
 Alexandria 350 61,978



 5


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 El Sewedy Cables Holding Co. 3,630 $ 49,565 Cie Generale de
 El Watany Bank of Egypt(1) 5,466 33,584 Geophysique-Veritas* 1,200 $ 33,984
 Misr Beni Suef Cement Co. 2,350 76,108 CNP Assurances 2,071 195,581
 Misr Cement Co.(1) 2,600 52,061 Compagnie de Saint-Gobain 9,702 466,505
 National Societe General Bank SAE 5,445 32,357 Compagnie des Alpes 1,400 48,029
 Olympic Group Financial Compagnie Generale de Geophysique* 2,502 70,983
 Investments 7,000 39,424 Compagnie Generale des
 Orascom Construction Industries 5,050 242,044 Etablissements Michelin -
 Orascom Telecom Holding SAE 60,475 61,837 Class B 362 26,677
 Oriental Weavers 4,647 33,667 Credit Agricole SA 20,645 361,381
 Sidi Kerir Petrochemcials Co. 23,000 61,072 Devoteam SA 600 16,451
 Six of October Development & Electricite de France 2,055 112,134
 Investment* 1,710 30,302 Euro Disney SCA* 1,200 7,164
 South Valley Cement* 10,835 14,011 Eutelsat Communications 1,937 68,859
 Talaat Moustafa Group* 23,500 32,736 France Telecom SA 32,024 766,235
 Telecom Egypt 30,200 93,299 GDF Suez 25,207 973,716
 ------------ Groupe Danone 5,904 355,653
 TOTAL EGYPT 1,443,242 Groupe Eurotunnel SA 6,453 65,761
 ------------ Groupe Steria SCA 4,279 132,408
 ESTONIA -- 0.2% Hermes International 321 44,592
 AS Baltika*(1) 29,700 28,080 Iliad SA 717 73,939
 AS Eesti Ehitus(1) 12,000 31,119 Klepierre 2,878 113,040
 AS Jarvevana* 14,700 7,545 L'Air Liquide SA 831 99,759
 AS Merko Ehitus(1) 14,700 151,888 L'Oreal SA 2,317 243,661
 AS Tallinna Vesi(1) 5,400 78,114 L.D.C. SA 153 14,765
 Olympic Entertainment Group AS* 70,130 112,719 Lafarge SA 6,002 422,356
 Tallink Group, Ltd.* 482,120 397,219 Lagardere SCA 7,221 292,203
 Tallinna Kaubamaja AS(1) 24,000 167,914 Legrand Holding SA 5,078 160,424
 ------------ Linedata Services 2,305 31,444
 TOTAL ESTONIA 974,598 LVMH Moet Hennessy Louis Vuitton SA 2,062 241,019
 ------------ NetGem SA 4,954 22,683
 FINLAND -- 0.6% Nexans SA 100 8,524
 Digia PLC 2,500 17,457 Parrot SA* 900 13,007
 Elisa Oyj* 1,789 36,897 Pernod-Ricard SA 1,477 125,421
 Fortum Oyj 5,521 135,046 Peugeot SA* 3,572 105,175
 Kesko Oyj - Class B 4,946 194,666 Pinault-Printemps-Redoute SA 1,909 254,153
 Metso Oyj 1,463 47,246 Plastic Omnium SA 3,537 128,509
 Neste Oil Oyj 5,828 101,623 Publicis Groupe SA 2,097 89,728
 Nokia Oyj 59,290 923,328 Renault SA* 7,755 363,460
 Nokian Renkaat Oyj 1,191 30,934 Sanofi-Aventis SA 35,846 2,672,061
 Outokumpu Oyj 3,262 71,595 Schneider Electric SA 2,344 274,930
 Sampo Oyj - Class A 2,304 61,118 SCOR SE 14,597 368,681
 Stora Enso Oyj - Class R 47,581 362,458 Societe Generale 12,416 780,884
 UPM-Kymmene Oyj 42,477 563,679 Spir Communication* 396 10,900
 Wartsila Oyj 840 42,546 Suez Environnement SA 2,472 56,894
 ------------ Technip SA 3,215 261,410
 TOTAL FINLAND 2,588,593 Thales SA 588 23,603
 ------------ Total SA 24,891 1,444,954
 FRANCE -- 4.5% Unibail- Rodamco SE 444 89,954
 Accor SA 3,433 189,924 Valeo SA* 5,481 195,623
 Aeroports de Paris 759 62,493 Vallourec SA 506 102,037
 Air France KLM* 10,487 165,794 Veolia Environnement 4,336 150,394
 Alcatel-Lucent* 30,769 97,288 Video Futur Entertainment Group SA* 4,954 2,543
 Alstom 2,445 152,470 Vinci SA 5,206 306,821
 AXA SA 62,418 1,388,509 Vivendi Universal SA 40,528 1,084,662
 BNP Paribas 34,010 2,611,883 ------------
 Bouygues SA 1,220 61,331 TOTAL FRANCE 20,036,746
 Bull SA* 37,193 171,301 ------------
 Cap Gemini SA 1,487 73,247 GERMANY -- 4.3%
 Carrefour SA 4,584 220,941 Adidas AG 2,248 120,237
 Casino Guichard-Perrachon SA 1,348 114,066 ADVA AG Optical Networking* 26,571 156,222
 Cegid Group 560 16,640
 CFAO SA* 806 30,035
 Christian Dior SA 2,860 305,090



 6


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Allianz SE - Registered Shares 28,519 $ 3,575,757 Villeroy & Boch AG 1,585 $ 10,501
 Amadeus Fire AG 800 20,314 Volkswagen AG 1,233 119,073
 BASF SE 19,126 1,186,237 VTG AG 1,200 18,574
 Bayer AG 8,558 578,871 ------------
 Bayerische Motoren Werke TOTAL GERMANY 19,063,902
 (BMW) AG 8,757 404,271 ------------
 Bilfinger Berger AG 306 20,415 GHANA -- 0.1%
 Brenntag AG* 221 16,417 Aluworks Ghana, Ltd.*(1) 232,000 74,462
 Celesio AG 2,811 89,868 CAL Bank, Ltd.(1) 498,146 66,618
 Cewe Color Holding AG 1,000 37,508 Ghana Commercial Bank, Ltd.(1) 106,696 71,343
 Commerzbank AG* 27,579 236,201 Produce Buying Co., Ltd.(1) 162,500 20,359
 DaimlerChrysler AG - Standard Chartered Bank(1) 2,200 50,713
 Registered Shares 10,846 510,599 ------------
 DaimlerChrysler AG - TOTAL GHANA 283,495
 Registered Shares 7,900 371,379 ------------
 Deutsche Bank AG 4,268 328,756 GREECE -- 0.1%
 Deutsche Bank AG - Registered Alpha Bank AE* 647 6,126
 Shares 6,600 507,342 Coca-Cola Hellenic Bottling
 Deutsche Boerse AG 1,635 121,193 Co. SA 2,665 71,846
 Deutsche Lufthansa AG - Hellenic Petroleum SA 3,677 42,115
 Registered Shares 13,602 225,604 Marfin Investment Group SA* 36,218 83,161
 Deutsche Post AG - Registered National Bank of Greece SA* 1,536 30,911
 Shares 4,678 81,160 OPAP SA 1,233 27,978
 Deutsche Postbank AG* 557 17,871 Piraeus Bank SA* 9,582 83,735
 Deutsche Telekom AG 103,111 1,397,551 Public Power Corp. SA* 3,721 65,335
 Deutsche Telekom AG - ADR 36,500 492,750 ------------
 E.On AG 64,960 2,398,338 TOTAL GREECE 411,207
 Einhell Germany AG 455 19,358 ------------
 Elmos Semiconductor AG* 4,047 37,776 HONG KONG -- 2.5%
 Fraport AG Frankfurt Airport Alco Holdings, Ltd. 18,000 6,445
 Services Worldwide 8,721 459,208 Aluminum Corp. of China, Ltd.
 Fresenius SE 3,232 240,573 - Class H* 38,000 39,252
 GEA Group AG 7,915 183,448 ASM Pacific Technology, Ltd. 3,500 33,155
 Generali Deutschland Holding Bank of East Asia, Ltd. 9,200 33,889
 AG 136 15,489 Beijing Capital International
 Grammer AG* 2,104 23,729 Airport Co., Ltd.- Class H* 54,684 32,680
 Hannover Rueckversicherungs Beijing Enterprises Holdings,
 AG* 750 37,035 Ltd. - Class H 12,000 83,382
 HeidelbergCement AG 3,585 199,979 BOC Hong Kong, Ltd. 68,000 162,200
 Henkel AG & Co.KGaA 892 41,330 Champion Technology Holdings,
 Highlight Communications AG 3,483 19,382 Ltd. 640,000 21,432
 Hochtief AG 260 21,850 Chaoda Modern Agriculture
 Infineon Technologies AG* 13,009 90,296 Holdings, Ltd. 36,140 38,494
 Linde AG 835 99,630 Cheung Kong Holdings, Ltd. 23,000 296,229
 MAN AG 1,963 164,330 Cheung Kong Infrastructure
 Merck KGaA 1,268 102,758 Holdings, Ltd. 10,000 38,703
 Metro AG 589 34,940 China Agri-Industries
 MTU Aero Engines Holding AG 6,537 380,320 Holdings, Ltd. 51,000 70,415
 Muenchener Rueckversicherungs- China COSCO Holdings Co.,
 Gesellschaft AG 6,549 1,062,782 Ltd. - Class H 36,000 47,665
 Nemetschek AG* 1,382 36,305 China Green Holdings, Ltd. 45,000 56,683
 Norddeutsche Affinerie AG 900 46,381 China Life Insurance Co.,
 RWE AG 405 33,308 Ltd. - Class H 122,000 584,525
 RWE AG 5,580 494,405 China Mengniu Dairy Co., Ltd.* 44,000 137,141
 Salzgitter AG 2,464 228,735 China Merchants Holdings
 SAP AG 6,793 329,016 International Co., Ltd. 61,470 226,428
 Siemens AG 10,580 1,059,600 China Mobile, Ltd. 143,009 1,375,892
 STO AG 290 24,676 China Overseas Land &
 ThyssenKrupp AG 3,650 125,491 Investment, Ltd. 32,320 73,013
 Tipp24 SE 1,800 69,289 China Petroleum & Chemical
 TUI AG* 30,191 339,474 Corp. - Class H 122,000 99,935
 China Resources Enterprise,
 Ltd. 74,000 274,965
 China Resources Land, Ltd. 28,000 60,874
 China Resources Power
 Holdings Co., Ltd. 17,600 37,674
 China Unicom Hongkong, Ltd. 66,652 75,028



 7


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 CLP Holdings, Ltd. 33,500 $ 239,463 The Link Real Estate
 CNOOC, Ltd. 565,531 930,867 Investment Trust 11,000 $ 27,117
 COSCO Pacific, Ltd. 16,000 24,234 Wharf Holdings, Ltd. 9,625 54,235
 Denway Motors, Ltd. 78,000 41,490 Wheelock & Co., Ltd. 107,000 315,587
 Dongfeng Motor Group Co., Wumart Stores, Inc. - Class H 57,000 114,965
 Ltd. - Class H 304,000 494,121 Yue Yuen Industrial, Ltd. 22,500 78,243
 Emperor Entertainment Hotel, Ltd. 145,000 22,037 ------------
 Esprit Holdings, Ltd. 16,007 126,275 TOTAL HONG KONG 11,372,266
 Fairwood, Ltd. 23,000 24,439 ------------
 Foxconn International HUNGARY -- 0.5%
 Holdings, Ltd.* 6,000 6,329 Egis Gyogyszergyar Nyrt PLC 380 40,986
 Global Bio-Chem Tecnology FHB Mortgage Bank PLC* 2,400 17,897
 Group Co., Ltd. 130,000 32,650 Gedeon Richter Nyrt 1,330 287,716
 GOME Electrical Appliances Magyar Telecom
 Holdings, Ltd.* 522,331 175,585 Telecommunications PLC 65,270 266,447
 Hang Lung Group, Ltd. 5,000 26,532 MOL Hungarian Oil and Gas Nyrt* 3,823 391,133
 Hang Lung Properties, Ltd. 2,000 8,063 OTP Bank Nyrt* 37,833 1,323,166
 Hang Seng Bank, Ltd. 6,500 90,582 ------------
 Henderson Land Development TOTAL HUNGARY 2,327,345
 Co., Ltd. 19,000 133,857 ------------
 Hengan International Group INDIA -- 1.6%
 Co., Ltd. 14,000 104,402 Bajaj Holdings and
 Hong Kong & China Gas Co., Ltd. 12,000 29,922 Investment, Ltd. - GDR 2,000 27,400
 Hong Kong Exchanges & Dr Reddys Laboratories, Ltd.- ADR 13,362 377,209
 Clearing, Ltd. 8,100 135,204 GAIL India, Ltd. - GDR 1,770 96,288
 Hongkong Electric Holdings, Ltd. 17,000 100,827 HDFC Bank, Ltd. - ADR 4,136 576,517
 Hung Hing Printing Group, Ltd. 80,000 24,317 ICICI Bank, Ltd. - Sponsored ADR 20,212 863,052
 Hutchinson Whampoa, Ltd. 174,400 1,275,837 Infosys Technologies, Ltd. -
 Hutchison Telecommunications Sponsored ADR 24,313 1,430,820
 International, Ltd.* 30,000 8,230 ITC, Ltd. RegS GDR* 84,500 494,499
 Jiangxi Copper Co., Ltd. - Reliance Industries, Ltd. -
 Class H 20,000 45,181 144A GDR (New York Exchange)@ 8,076 386,486
 Jinhui Holdings, Ltd.* 32,000 11,870 Reliance Industries,
 Keck Seng Investments 84,000 46,629 Ltd.-144A GDR (London Exchange)@ 11,740 565,868
 Kerry Properties, Ltd. 3,500 18,775 Reliance Infrastructure, Ltd. - GDR 1,720 114,896
 Kingboard Chemicals Holdings, Ltd. 13,000 59,188 State Bank of India, Ltd. -
 Lee & Man Paper Manufacturing Ltd. 321,600 251,423 GDR ( New York Exchange) 2,100 197,820
 Lenovo Group, Ltd. 712,000 491,525 State Bank of India, Ltd. -
 Li & Fung, Ltd. 2,000 9,840 GDR ( New York Exhange) 4,510 417,538
 Lifestyle International Sterlite Industries India,
 Holdings, Ltd. 7,500 13,543 Ltd.- ADR 35,924 668,546
 Mongolia Energy Co., Ltd.* 18,000 8,323 Tata Motors, Ltd. - ADR 28,483 525,796
 New World Development Co., Ltd. 69,491 136,042 Wipro, Ltd. - ADR 23,857 556,107
 Nine Dragons Paper Holdings, Ltd. 16,000 26,748 ------------
 Orient Overseas TOTAL INDIA 7,298,842
 International, Ltd. 3,500 25,943 ------------
 Pacific Basin Shipping, Ltd. 207,000 164,763 INDONESIA -- 1.2%
 PetroChina Co., Ltd. - Class H 659,957 771,795 AKR Corporindo Tbk Pt 376,000 38,428
 RCG Holdings, Ltd.* 18,303 20,831 Aneka Tambang (Persero) Tbk Pt 190,000 50,113
 Shanghai Industrial Holdings, Astra International Tbk Pt 213,500 983,092
 Ltd. 59,000 270,522 Bakrie and Brothers Tbk Pt* 5,603,500 44,954
 Sino Land Co., Ltd. 18,000 35,285 Bank Central Asia Tbk Pt 688,000 415,847
 Sun Hung Kai Properties, Ltd. 24,000 361,039 Bank Danamon Indonesia Tbk Pt 288,122 164,650
 SUNeVision Holdings, Ltd. 104,000 15,404 Bank Mandiri Persero Tbk Pt 1,075,500 632,334
 Swire Pacific, Ltd. - Class A 3,000 36,088 Bank Negara Indonesia
 (Persero) Tbk, PT 473,500 118,381
 Bank Rakyat Indonesia
 (Persero) Tbk Pt 285,500 258,847
 Barito Pacific Tbk Pt* 269,000 38,726
 Bumi Resources Tbk Pt 911,000 225,260
 Gudang Garam Tbk Pt 40,000 108,797
 Holcim Indonesia Tbk Pt* 460,000 104,896



 8


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Indah Kiat Pulp & Paper Corp. Partner Communications Co., Ltd. 3,743 $ 84,061
 Tbk Pt* 276,000 $ 67,487 Property & Building Corp., Ltd. 500 42,765
 Indocement Tunggal Prakarsa Tbk Pt 65,000 101,791 Shufersal, Ltd. 7,500 44,220
 Indofood Sukses Makmur Tbk Pt 531,000 220,290 Teva Pharmaceutical
 Indosat Tbk Pt 137,500 83,109 Industries, Ltd. - ADR 33,966 2,142,575
 International Nickel The Israel Corp., Ltd.* 160 135,940
 Indonesia Tbk Pt 150,000 77,889 ------------
 Kalbe Farma Tbk Pt 644,000 132,346 TOTAL ISRAEL 4,681,812
 Lippo Karawaci Tbk Pt* 501,000 33,035 ------------
 Medco Energi Internasional Tbk Pt 133,000 38,002 ITALY -- 1.4%
 Perusahaan Gas Negara Pt 559,000 261,086 A2A SPA 36,883 69,195
 Semen Gresik (Persero) Tbk Pt 122,500 98,275 Assicurazioni Generali SPA 3,348 80,356
 Tambang Balubara Bukit Asam Tbk Pt 58,500 111,863 Atlantia SPA 6,085 142,020
 Telekomunikasi Indonesia Tbk Pt 449,184 397,377 Autogrill SPA* 11,178 136,030
 Unilever Indonesia Tbk Pt 93,000 124,177 Banca Carige SPA 10,481 28,631
 United Tractors Tbk Pt 275,500 555,572 Banca Monte dei Paschi di Siena SPA 82,267 121,782
 ------------ Banca Popolare di Milano Scrl 20,132 125,013
 TOTAL INDONESIA 5,486,624 Banco Popolare Scrl* 25,817 179,580
 ------------ Buzzi Unicem SPA 1,409 17,746
 IRELAND -- 0.2% Danieli & Co. SPA 2,598 69,759
 CRH PLC (Dublin Exchange) 4,839 120,782 Enel SPA 207,747 1,161,664
 CRH PLC - ADR 12,971 322,848 ENI SPA 28,370 665,586
 Dragon Oil PLC* 8,306 61,005 Fiat SPA* 4,288 55,831
 Julius Baer Holding AG 868 10,661 Finmeccanica SPA 9,656 128,854
 Kerry Group PLC - Class A 7,471 232,088 Intesa Sanpaolo SPA* 102,146 380,437
 ------------ Intesa Sanpaolo SPA - RSP 10,564 31,640
 TOTAL IRELAND 747,384 Luxottica Group SPA 351 9,387
 ------------ Mediaset SPA 9,900 85,043
 ISRAEL -- 1.0% Mediobanca SPA* 8,405 90,307
 Africa Israel Investments, Ltd.* 400 4,723 Parmalat SPA 173,446 474,975
 Alvarion, Ltd.* 3,200 12,685 Prysmian SPA 2,370 46,575
 Arab East Investment Co., Ltd.* 10,828 15,441 Servizi Italia SPA 2,333 16,165
 Bank Leumi le-Israel BM* 46,100 216,295 Snam Rete Gas SPA 12,407 62,883
 Bezeq Israeli Telecommunication Telecom Italia SPA 184,134 265,116
 Corp., Ltd. 149,141 423,321 Telecom Italia SPA - ADR 15,200 217,968
 Cellcom Israel, Ltd. 650 22,210 UniCredit SPA* 535,969 1,583,555
 Check Point Software Technologies, Unione di Banche Italiane SCPA 11,474 154,819
 Ltd.* 10,560 370,234 ------------
 Clal Insurance Enterprises TOTAL ITALY 6,400,917
 Holdings, Ltd.* 1,100 27,103 ------------
 Delek Automotive Systems, Ltd. 3,400 42,319 JAPAN -- 10.3%
 Delek Group, Ltd. 500 114,456 ABLE, Inc. 1,100 8,766
 Discount Investment Corp. 1,000 27,870 Advantest Corp. 600 15,005
 Elbit Systems, Ltd. 700 44,795 Aeon Co., Ltd. 23,600 267,832
 Gazit Globe, Ltd. 2,400 25,184 Aeon Fantasy Co., Ltd. 5,200 61,517
 Harel Insurance Investments & Aioi Insurance Co., Ltd. 13,000 67,023
 Financial Services, Ltd.* 550 30,984 Airport Facilities Co., Ltd. 5,300 29,139
 IDB Holding Corp., Ltd. 950 33,083 Aisin Seiki Co., Ltd. 1,016 30,429
 Israel Chemicals, Ltd. 23,370 316,174 Ajinomoto Co., Inc. 6,000 59,429
 Israel Discount Bank, Ltd. - Alfresa Holdings Corp. 3,100 133,629
 Class A* 38,000 86,884 Alps Logistic Co., Ltd. 1,000 9,723
 Koor Industries, Ltd. 450 12,505 Amada Co., Ltd. 62,000 519,927
 Makhteshim-Agan Industries, Ltd. 20,000 90,374 Amiyaki Tei Co., Ltd. 10 28,720
 Migdal Insurance & Financial Ando Corp. 7,000 9,883
 Holding, Ltd.* 29,594 61,178 AOI Electronic Co., Ltd. 1,600 24,371
 Mizrahi Tefahot Bank, Ltd.* 12,100 114,395 Aoyama Trading Co., Ltd. 2,400 39,611
 Nice Systems, Ltd.* 2,100 66,936 Aozora Bank, Ltd. 72,000 101,658
 Oil Refineries, Ltd. 55,500 32,317 Arakawa Chemical Industries, Ltd. 5,200 61,016
 Orbotech, Ltd.* 1,300 14,079 Argo Graphics, Inc. 5,800 64,272
 Ormat Industries 3,500 26,706 Asahi Breweries, Ltd. 2,600 48,752
 Asahi Glass Co., Ltd. 4,000 45,053
 Asahi Industries Co., Ltd. 6 11,757



 9


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Asahi Kasei Corp. 81,000 $ 435,801 Hazama Corp.* 21,500 $ 19,318
 Asahi Kogyosha Co., Ltd. 2,000 8,343 HIS Co., Ltd. 3,700 75,789
 Asset Managers Holdings Co., Ltd.* 200 20,858 Hitachi High-Technologies Corp. 1,500 34,415
 Astellas Pharma, Inc. 32,700 1,183,972 Hitachi Medical Corp. 7,000 59,750
 Bando Chemical Industries, Ltd. 18,000 57,183 Hitachi, Ltd.* 181,000 675,677
 Brother Industries, Ltd. 3,200 38,678 Hitachi, Ltd. - ADR* 5,119 190,376
 CAC Corp. 4,000 28,623 Hokkaido Electric Power Co. 4,500 86,351
 Canon Marketing Japan, Inc. 7,800 106,208 Hokkaido Gas Co., Ltd. 13,000 34,207
 Canon, Inc. 12,833 594,362 Honda Motor Co., Ltd. 30,340 1,070,938
 Central Japan Railway Co. 25 190,395 House Foods Corp. 1,600 23,258
 Certo Corp. 3,700 64,510 Idemitsu Kosan Co., Ltd. 1,700 128,741
 Chubu Electric Power Co., Inc. 7,000 174,981 Imasen Electric Industrial 5,000 63,322
 Chubu Steel Plate Co., Ltd. 17,400 111,670 Inabata & Co., Ltd. 12,000 56,605
 Chuo Spring Co., Ltd. 5,000 19,895 Ines Corp. 1,300 9,664
 Coca-Cola West Co., Ltd. 6,700 109,576 Information Services
 COMSYS Holdings Corp. 3,000 29,041 International-Dentsu, Ltd. 11,300 60,555
 Cosmo Oil Co., Ltd. 61,000 147,460 Innotech Corp. 7,300 44,976
 Credit Saison Co., Ltd. 3,200 49,631 Isetan Mitsukoshi Holdings, Ltd. 11,200 120,398
 Crescendo Investment Corp. 51 69,280 Itochu Corp. 31,690 277,614
 Cybernet Systems Co., Ltd. 52 20,552 Itochu Enex Co., Ltd. 4,600 24,257
 Dai Nippon Printing Co., Ltd. 28,000 378,265 J Front Retailing Co., Ltd. 11,000 64,713
 Dai-Dan Co., Ltd. 9,000 45,245 Japan Prime Realty Investment Corp. 29 64,551
 Daicel Chemical Industries, Ltd. 4,000 27,511 Japan Retail Fund Investment Corp. 26 30,591
 Daido Steel Co., Ltd. 11,725 49,288 Japan Tobacco, Inc. 23 85,613
 Daihatsu Diesel Manufacturing JBCC Holdings, Inc. 7,000 42,828
 Co., Ltd. 5,000 18,451 JFE Holdings, Inc. 1,800 72,489
 Daiichi Jitsugyo Co., Ltd. 33,000 86,833 JMS Co., Ltd. 15,000 61,130
 Daiichi Sankyo Co., Ltd. 3,700 69,298 Joban Kosan Co., Ltd. 5,000 7,434
 Daiichikosho Co., Ltd. 700 9,030 JS Group Corp. (Tostem Inax
 Daikin Industries, Ltd. 502 20,539 Holding Corp.) 6,700 136,379
 Dainichi Co., Ltd. 3,100 21,487 JSP Corp. 1,500 17,970
 Daisyo Corp. 2,400 29,393 JSR Corp. 2,000 41,780
 Daito Trust Construction Co., Ltd. 4,200 202,610 JTEKT Corp. 2,900 34,245
 Daiwa House Industry Co., Ltd. 22,000 248,262 Kajima Corp. 66,000 161,664
 Daiwa Securities Group, Inc. 30,000 157,878 Kamei Corp. 13,000 64,381
 Denso Corp. 8,868 264,171 Kamigumi Co., Ltd. 4,000 32,175
 DTS Corp. 2,700 26,801 Kaneka Corp. 36,000 233,351
 East Japan Railway Co., Ltd. 6,070 422,024 Kanematsu Corp.* 7,000 5,765
 Eisai Co., Ltd. 1,916 68,348 Kanematsu Electronics, Ltd. 11,700 104,247
 Electric Power Development Kasumi Co., Ltd. 3,000 14,568
 Co., Ltd. 3,000 98,834 Kawada Technologies, Inc. 1,300 22,652
 Elematec Corp. 3,600 43,705 Kawasaki Kisen Kaisha, Ltd.* 21,000 83,784
 Epilda Memory, Inc.* 3,400 66,953 KDDI Corp. 52 269,205
 Faith, Inc. 350 41,368 Keihanshin Real Estate Co., Ltd. 2,800 13,328
 Fanuc, Ltd. 1,433 152,052 Kinden Corp. 3,000 26,281
 First Juken Co., Ltd. 1,300 8,232 Kirin Holdings Co., Ltd. 8,800 129,802
 Fuji Electric Holdings Co., Ltd. 28,000 76,372 Komatsu Wall Industry Co., Ltd. 800 8,531
 Fuji Electronics Co., Ltd. 1,700 16,638 Komatsu, Ltd. 2,911 61,029
 Fuji Heavy Industries, Ltd.* 23,000 119,072 Konami Corp. 1,700 32,785
 Fuji Media Holdings, Inc. 147 217,772 Konishi Co., Ltd. 5,100 59,515
 Fuji Soft, Inc. 9,100 152,137 KRS Corp. 1,900 18,006
 FUJIFILM Holdings Corp. 26,600 916,162 Kubota Corp. 14,074 128,260
 Fujikura, Ltd. 7,000 40,357 Kuraray Co., Ltd. 2,000 26,912
 Fujitsu, Ltd. 80,900 529,584 Kyocera Corp. 439 42,778
 Fukuda Denshi Co., Ltd. 200 4,621 Kyocera Corp. - ADR 600 58,332
 Fukuoka Financial Group, Inc. 39,000 165,611 Kyodo Printing Co., Ltd. 25,000 74,072
 Furusato Industries, Ltd. 8,700 61,232 Kyowa Hakko Konin Co., Ltd. 2,000 20,644
 Glory, Ltd. 1,200 29,804 Kyushu Electric Power Co., Inc. 6,100 132,779
 Hakuhodo DY Holdings, Inc. 770 40,522 Macnica, Inc. 1,200 19,638
 Hakuto Co., Ltd. 2,500 24,307



 10


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Maezawa Kasei Industries Co., Ltd. 4,900 $ 49,005 Nippon Steel Corp. 11,000 $ 43,181
 Makita Corp. 2,700 88,951 Nippon Telegraph & Telephone Corp. 27,726 1,168,472
 Marubeni Corp. 91,000 565,526 Nippon Television Network Corp. 180 24,490
 Marubun Corp. 2,700 16,346 Nippon Yusen Kabushiki Kaisha 26,000 102,621
 Marui Co., Ltd. 18,600 134,889 Nipponkoa Insurance Co., Ltd. 10,000 62,787
 Maruichi Steel Tube, Ltd. 1,265 25,654 NIS Group Co., Ltd.* 27,300 6,716
 Matsui Securities Co., Ltd. 4,200 30,010 Nishimatsu Construction Co., Ltd. 39,000 50,893
 Mazda Motor Corp. 42,000 118,152 Nissan Motor Co., Ltd.* 138,300 1,184,921
 Medipal Holdings Corp. 950 11,249 Nisshin Seifun Group, Inc. 12,500 161,381
 MEIJI Holdings Co., Ltd. 2,700 104,835 Nisshin Steel Co., Ltd. 78,000 162,691
 Meisei Industrial Co., Ltd. 34,000 95,647 Nisshinbo Holdings, Inc. 3,000 31,062
 Mimasu Semiconductor Industry Nissin Sugar Manufacturing
 Co., Ltd. 10,200 152,307 Co., Ltd. 9,000 19,831
 Mitsubishi Chemical Holdings Corp. 29,000 148,273 Nittan Valve Co., Ltd. 2,100 7,615
 Mitsubishi Corp. 21,576 565,421 Noevir Co., Ltd. 5,100 52,697
 Mitsubishi Electric Corp. 4,335 39,831 Nok Corp. 2,200 33,109
 Mitsubishi Gas Chemical Co., Inc. 14,000 84,308 Nomura Holdings, Inc. 38,700 285,210
 Mitsubishi Heavy Industries, Ltd. 104,000 430,506 Nomura Real Estate Holdings, Inc. 3,100 47,815
 Mitsubishi Logistics Corp. 3,000 37,287 NS Solutions Corp. 1,300 23,569
 Mitsubishi Materials Corp.* 36,000 103,583 NSK, Ltd. 2,000 15,788
 Mitsubishi Tanabe Pharma Corp. 3,467 48,951 NTN Corp. 8,000 36,111
 Mitsubishi UFJ Financial Group, Inc. 147,093 770,944 NTT DoCoMo, Inc. 561 854,491
 Mitsubishi UFJ Lease & Obayashi Road Corp. 21,000 47,845
 Finance Co., Ltd. 1,910 69,462 Ohashi Technica, Inc. 5,500 35,180
 Mitsui & Co., Ltd. 49,494 831,694 Ohbayashi Corp. 30,000 133,169
 Mitsui Chemicals, Inc. 30,000 90,812 OJI Paper Co., Ltd. 40,000 175,420
 Mitsui Home Co., Ltd. 14,000 76,671 Olympus Corp. 900 28,880
 Mitsui O.S.K Lines, Ltd. 16,000 114,836 Oriental Yeast Co., Ltd. 2,000 9,691
 Mitsui Sumitomo Insurance ORIX Corp. 1,470 130,349
 Group Holdings, Inc. 10,800 299,775 Osaka Gas Co., Ltd. 61,000 218,580
 Mitsumi Electric Co., Ltd. 6,400 140,062 Pal Co., Ltd. 1,450 29,112
 Mizuho Financial Group, Inc. 195,700 387,255 Panasonic Corp. 21,225 324,652
 Nafco Co., Ltd. 1,000 18,323 Panasonic Electric Works Co., Ltd. 8,000 100,973
 Nagase & Co., Ltd. 3,000 37,512 Panasonic Electric Works
 Namco Bandai Holdings, Inc. 8,500 82,827 Information Systems Co., Ltd. 8,000 202,546
 Namura Shipbuilding Co., Ltd. 2,300 11,932 Piolax, Inc. 1,700 38,059
 NEC Corp. 127,000 381,720 Pressance Corp. 6 11,077
 NEC Fielding, Ltd. 6,800 92,083 Promise Co., Ltd. 3,400 31,531
 NEC Mobiling, Ltd. 4,100 98,411 Raysum Co., Ltd.* 36 10,204
 NEC Networks & System Relo Holdings, Inc. 2,700 44,677
 Integration Corp. 2,300 30,481 Resona Holdings, Inc. 14,400 182,060
 NGK Insulators, Ltd. 2,000 40,796 Ricoh Co., Ltd. 56,276 878,842
 Nichiban Co., Ltd. 15,000 51,021 Rock Field Co., Ltd. 100 1,460
 Nidec Corp. 3,419 366,439 Rohm Co., Ltd. 1,600 119,457
 NIFTY Corp. 12 9,370 Ryoden Trading Co., Ltd. 20,000 105,038
 Nihon Kagaku Sangyo Co., Ltd. 3,000 20,729 Ryoyo Electro Corp. 7,500 71,799
 Nihon Shokuhin Kako Co., Ltd. 2,000 13,520 Saison Information Systems
 Nihon Yamamura Glass Co., Ltd. 81,000 268,585 Co., Ltd. 6,000 41,074
 Nintendo Co., Ltd. 1,643 550,068 Sanko Marketing Foods Co.,
 Nippo Corp. 24,000 184,319 Ltd. 12 9,819
 Nippon Express Co., Ltd. 84,000 361,194 Sankyo Co., Ltd. 1,100 54,418
 Nippon Game Card Corp. 13 15,018 Sankyo Seiko Co., Ltd. 15,200 46,987
 Nippon Meat Packers, Inc. 4,000 50,615 Sanoyas Hishino Meisho Corp. 2,100 9,030
 Nippon Mining Holdings, Inc. 64,000 299,155 Sanshin Electronics Co., Ltd. 2,600 21,970
 Nippon Oil Corp. 90,000 453,417 Sapporo Hokuyo Holdings, Inc. 61,800 282,261
 Nippon Paper Group, Inc. 2,300 59,167 Sato Shoji Corp. 4,800 27,622
 Nippon Sheet Glass Co., Ltd. 74,000 218,462 Satori Electric Co., Ltd. 2,900 18,953
 Nippon Shokubai Co., Ltd. 4,000 36,154 Sazaby League, Ltd. 1,500 22,462



 11


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 SBI Holdings, Inc. 139 $ 27,431 The Daishi Bank, Ltd. 12,000 $ 41,587
 Sega Sammy Holdings, Inc. 1,400 16,952 The Gunma Bank, Ltd. 9,000 49,770
 Seibu Electric Industry Co., Ltd. 2,000 7,830 The Hachijuni Bank, Ltd. 13,000 73,976
 Seika Corp. 19,000 43,491 The Higo Bank, Ltd. 8,000 44,497
 Seino Holdings Corp. 16,000 113,980 The Hokkoku Bank, Ltd. 7,000 25,981
 Sekisui Chemical Co., Ltd. 10,000 67,815 The Hyakugo Bank, Ltd. 8,000 37,565
 Sekisui House, Ltd. 18,000 179,827 The Iyo Bank, Ltd. 7,000 66,563
 Seria Co., Ltd. 8 10,337 The Joyo Bank, Ltd. 18,000 80,287
 Seven & I Holdings Co., Ltd. 5,700 137,729 The Juroku Bank, Ltd. 12,000 47,620
 Seven Bank, Ltd. 16 32,175 The Kansai Electric Power Co., Inc. 4,300 98,520
 Shimizu Corp. 14,000 58,402 The Nishi-Nippon City Bank, Ltd. 13,000 38,378
 Shin-Etsu Chemical Co., Ltd. 333 19,341 The San-In Godo Bank, Ltd. 5,000 41,716
 Shinsei Bank, Ltd. 109,000 131,747 The Shiga Bank, Ltd. 8,000 50,487
 Shiseido Co., Ltd. 1,000 21,714 The Shizuoka Bank, Ltd. 5,000 43,588
 Sinanen Co., Ltd. 5,000 20,697 The Sumitomo Trust & Banking
 SMC Corp. 100 13,574 Co., Ltd. 12,000 70,339
 Soft99 Corp. 3,300 20,755 The Suruga Bank, Ltd. 4,000 35,769
 Sojitz Corp. 61,200 118,485 The Tokyo Electric Power Co., Inc. 12,200 325,194
 Soken Chemical & Engineering TKC 2,700 49,905
 Co., Ltd. 1,600 23,087 Toda Corp. 11,000 39,651
 Sompo Japan Insurance, Inc. 43,000 301,722 Toenec Corp. 7,000 38,036
 Sony Corp. 58,402 2,236,380 Toho Gas Co., Ltd. 5,000 27,276
 Sony Corp. - ADR 1,500 57,480 Tokio Marine Holdings, Inc. 10,000 281,634
 Sony Financial Holdings, Inc. 12 39,405 Tokuyama Corp. 3,000 16,622
 Stanley Electric Co., Ltd. 1,100 21,332 Tokyo Broadcasting System Inc. 700 10,602
 Studio Alice Co., Ltd. 2,400 21,384 Tokyo Electron, Ltd. 1,000 66,317
 Sugimoto & Co., Ltd. 1,800 16,943 Tokyo Gas Co., Ltd. 10,000 44,069
 Sumikin Bussan Corp. 9,000 20,601 Tokyo Rakutenchi Co., Ltd. 8,000 31,148
 Sumitomo Bakelite Co., Ltd. 9,000 51,599 Tokyo Steel Manufacturing Co., Ltd. 4,500 56,364
 Sumitomo Chemical Co., Ltd. 27,000 131,982 Tokyo Tatemono Co., Ltd. 33,000 118,601
 Sumitomo Corp. 63,600 731,308 Tokyo Tekko Co., Ltd. 7,000 21,339
 Sumitomo Electric Industries, Ltd. 20,500 251,289 Tokyu Land Corp. 21,000 80,190
 Sumitomo Forestry Co., Ltd. 6,000 48,968 Tomen Devices Corp. 700 13,560
 Sumitomo Metal Industries, Ltd. 6,000 18,162 Tomen Electronics Corp. 3,500 42,491
 Sumitomo Metal Mining Co., Ltd. 6,000 89,272 Tomoe Engineering Co., Ltd. 3,200 45,660
 Sumitomo Mitsui Financial Tomoku Co., Ltd. 20,000 45,780
 Group, Inc. 15,501 512,334 Toppan Printing Co., Ltd. 32,000 288,886
 Sumitomo Realty & Development Torii Pharmaceutical Co., Ltd. 3,300 64,736
 Co., Ltd. 2,500 47,572 Toshiba Corp.* 29,000 149,823
 Suzuki Motor Corp. 5,834 128,736 Tosoh Corp. 30,000 76,372
 SystemPro Co., Ltd. 107 78,170 Toyo Seikan Kaisha, Ltd. 5,400 95,651
 T&D Holdings, Inc. 5,850 138,475 Toyota Auto Body Co., Ltd. 1,400 23,930
 Tachi-S Co., Ltd. 3,600 39,200 Toyota Boshoku Corp. 30 576
 Tachibana Eletech Co., Ltd. 6,100 48,805 Toyota Motor Corp. 39,658 1,588,611
 Tact Home Co., Ltd. 29 22,272 Toyota Tsusho Corp. 4,800 75,268
 Taihei Kogyo Co., Ltd. 10,000 42,892 Tsurumi Manufacturing Co., Ltd. 1,000 7,038
 Taiheiyo Cement Corp.* 25,000 35,833 Unicharm Corp. 800 77,270
 Taiho Kogyo Co., Ltd. 15,400 123,378 Universe Co., Ltd. 7,900 105,373
 Taikisha, Ltd. 3,276 52,807 UNY Co., Ltd. 5,400 44,649
 Taisei Corp. 42,000 92,545 VITAL KSK HOLDINGS, Inc. 5,000 32,624
 Taiyo Electric Co., Ltd. 1,200 7,124 West Japan Railway Co. 28 96,438
 Takagi Securities Co., Ltd. 17,000 31,822 Wowow, Inc. 10 21,157
 Takashimaya Co., Ltd. 6,000 49,289 Yachiyo Industry Co., Ltd. 1,700 16,311
 Takeda Pharmaceutical Co., Ltd. 12,889 567,314 Yamaguchi Financial Group, Inc. 8,000 87,539
 Teijin, Ltd. 36,000 120,911 Yamaha Corp. 3,100 40,022
 Terumo Corp. 800 42,614 Yondenko Corp. 8,000 37,309
 The 77 Bank, Ltd. 14,000 79,966 Yuraku Real Estate Co., Ltd. 6,000 24,067
 The Bank of Kyoto, Ltd. 14,000 128,934
 The Bank of Yokohama, Ltd. 76,000 372,318
 The Chiba Bank, Ltd. 9,000 53,813



 12


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Yurtec Corp. 6,000 $ 30,356 ArcelorMittal (New York Exchange) 27,100 $ 1,189,961
 ------------ Evraz Group SA GDR -
 TOTAL JAPAN 45,939,334 Registered Shares* 10,780 428,289
 ------------ SES SA 7,359 185,819
 JORDAN -- 0.2% Tenaris SA 944 20,375
 Arab Bank PLC 22,005 335,240 Ternium SA - ADR* 8,745 358,807
 Arab Potash Co. 2,100 102,235 ------------
 Capital Bank of Jordan* 18,700 40,925 TOTAL LUXEMBOURG 2,496,048
 Jordan Petroleum Refinery Co. 1,380 13,328 ------------
 Jordan Phosphate Mines 1,600 38,405 MALAYSIA -- 0.8%
 Jordan Steel* 5,259 21,311 Alliance Financial Group Bhd 28,800 25,427
 Jordanian Electric Power Co. 17,117 94,255 Astro All Asia Networks PLC 23,200 30,440
 Lafarge Jordan Cement 3,000 30,921 Batu Kawan Bhd 12,600 41,253
 Middle East Complex*(1) 3,860 8,028 British American Tobacco Bhd 6,700 90,662
 Taameer Jordan Holdings PSC* 12,900 13,660 Bursa Malaysia Bhd 14,500 34,939
 United Arab Investors* 17,000 17,762 Dialog Group Bhd 119,238 40,209
 ------------ Digi.com Bhd 5,000 34,611
 TOTAL JORDAN 716,070 Eastern & Oriental Bhd* 15,700 4,693
 ------------ EON Capital Bhd 28,200 60,774
 KAZAKHSTAN -- 0.1% Genting Bhd 156,700 317,051
 KazMunaiGas Exploration Hong Leong Bank Bhd 16,400 43,438
 Production GDR 12,500 308,375 IJM Corp. Bhd 61,460 91,945
 ------------ IOI Corp. Bhd 32,480 53,669
 TOTAL KAZAKHSTAN 308,375 KLCC Property Holdings Bhd 54,800 56,278
 ------------ KNM Group Bhd* 108,300 23,904
 KENYA -- 0.2% Kuala Lumpur Kepong Bhd 22,300 114,029
 Athi River Mining, Ltd. 30,000 44,232 Kulim Malaysia Bhd 24,400 53,183
 Bamburi Cement Co., Ltd.(1) 23,000 55,626 Lion Industries Corp. Bhd 88,800 47,367
 Barclays Bank of Kenya, Ltd. 48,400 31,925 Malayan Banking Bhd 229,090 524,618
 Centum Investment Co., Ltd.* 102,300 20,640 Malaysian Airline System Bhd* 64,500 42,512
 East African Breweries, Ltd. 87,480 183,287 Malaysian Resources Corp. Bhd* 83,700 42,338
 Equity Bank, Ltd. 331,000 67,638 MISC Bhd 38,400 95,353
 Kenya Airways, Ltd.(1) 195,900 152,018 MMC Corp. Bhd 90,800 67,919
 Kenya Commercial Bank, Ltd. 332,800 94,692 Muhibbah Engineering M Bhd 68,300 21,147
 Kenya Electricity Generating Multi-Purpose Holdings Bhd 94,600 69,021
 Co., Ltd. 268,600 52,108 Pelikan International Corp. Bhd 20,700 8,250
 Mumias Sugar Co., Ltd. 238,200 32,347 Petronas Dagangan Bhd 17,900 49,661
 Nation Media Group 24,200 43,192 PPB Group Bhd 33,700 185,960
 Safaricom, Ltd. 2,918,600 209,496 Proton Holdings Bhd* 102,500 148,000
 Standard Chartered Bank Kenya, Ltd. 9,200 22,488 Public Bank Bhd 28,701 102,415
 ------------ Ranhill Bhd 52,000 12,514
 TOTAL KENYA 1,009,689 RHB Capital Bhd 21,200 36,655
 ------------ Samling Global Bhd 354,000 41,034
 LATVIA -- 0.0% SapuraCrest Petroleum Bhd 132,200 97,265
 Latvian Shipping Co.*(1) 91,206 69,510 Scomi Group Bhd 69,500 8,203
 ------------ Shell Refining Co. Federation
 TOTAL LATVIA 69,510 of Malaya Bhd 9,800 32,266
 ------------ Sime Darby Bhd 113,446 302,917
 LEBANON -- 0.0% SP Setia Bhd 19,800 25,372
 Solidere - GDR 9,400 211,782 TA Ann Holdings Bhd 11,000 19,862
 ------------ Tanjong PLC 7,700 42,348
 TOTAL LEBANON 211,782 Telekom Malaysia Bhd 77,100 81,307
 ------------ Tenaga Nasional Bhd 39,300 96,624
 LITHUANIA -- 0.1% Titan Chemicals Corp. Bhd 75,100 28,318
 Apranga PVA*(1) 137,400 198,862 TM International Bhd* 9,000 10,622
 Invalda PVA* 17,284 20,080 UMW Holdings Bhd 15,400 29,979
 Lietuvos Energija*(1) 17,374 15,087 Wah Seong Corp. Bhd 35,921 28,632
 Lifosa PVA* 4,400 63,338 WCT Engineering Bhd 35,466 29,899
 Panevezio Statybos Trestas 16,900 27,104 YTL Corp. Bhd 33,558 77,157
 Pieno Zvaigzdes 10,687 14,590 YTL Power International Bhd 113,816 76,412
 Rytu Skirstomieji Tinklai* 26,729 23,002 Zelan Bhd* 17,600 2,994
 Sanitas* 9,500 48,606 ------------
 Siauliu Bankas* 30,912 13,422 TOTAL MALAYSIA 3,601,446
 Ukio Bankas* 252,062 114,374 ------------
 ------------
 TOTAL LITHUANIA 538,465
 ------------
 LUXEMBOURG -- 0.6%
 ArcelorMittal (London Exchange) 7,128 312,797



 13


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 MAURITIUS -- 0.2% Grupo Modelo SAB de CV - Series C* 17,500 $ 103,326
 Ireland Blyth, Ltd.(1) 18,300 $ 29,700 Grupo Simec SAB de CV - Series B* 12,500 36,063
 Mauritius Commercial Bank 77,100 333,679 Grupo Televisa SA, ADR 3,561 74,852
 Mauritius Development Investment Grupo Televisa SAB 43,700 184,644
 Trust Co., Ltd.(1) 221,000 32,244 Impulsora Del Desarrollo Y El
 Naiade Resorts, Ltd. 7,000 6,197 Empleo en America Latina
 New Mauritius Hotels, Ltd. 18,900 77,459 SAB de CV* 94,900 132,021
 Rogers & Co., Ltd.(1) 7,100 61,921 Industrias CH SAB de CV - Series B* 7,500 29,997
 State Bank of Mauritius, Ltd. 74,300 190,013 Industrias Penoles SAB de CV 5,150 109,967
 Sun Resorts, Ltd. - Class A 24,970 52,395 Kimberly-Clark de Mexico SAB
 ------------ de CV - Series A 14,000 79,151
 TOTAL MAURITIUS 783,608 Mexichem SAB de CV 25,592 75,242
 ------------ Organizacion Soriana SAB de
 MEXICO -- 2.3% CV - Series B* 10,800 32,146
 Alfa SAB de CV - Class A 28,500 224,519 Promotora Y Operadora de
 America Movil SAB de CV - Series L 647,200 1,630,596 Infraestructura SAB de CV* 36,900 92,520
 America Movil SAB de CV - Telefonos de Mexico SAB de CV 181,500 142,103
 Series L ADR 25,435 1,280,398 Telmex Internacional SAB de
 Axtel SAB de CV* 16,800 12,895 CV - Class L 125,300 121,006
 Banco Compartamos SA de CV 27,000 152,233 TV Azteca SAB de CV 38,700 22,443
 Carso Global Telecom SAB de Urbi Desarrollos Urbanos SAB de CV* 22,900 52,880
 CV - Series A1* 14,200 72,506 Wal-Mart de Mexico SAB de CV
 Carso Infraestructura y - Series V 146,500 750,644
 Construccion SAB de CV* 41,900 28,975 ------------
 Cemex SAB de CV* 614,004 630,206 TOTAL MEXICO 10,238,434
 Cemex SAB de CV - ADR* 10,334 105,510 ------------
 Coca-Cola Femsa SAB de CV - MOROCCO -- 0.3%
 Series L 33,300 222,202 Attijariwafa Bank 4,709 164,080
 Consorcio ARA SAB de CV* 21,400 14,418 Banque Centrale Populaire 590 19,928
 Controladora Comercial Banque Marocaine du Commerce
 Mexicana SAB de CV* 13,600 11,022 et de l'Industrie 320 37,424
 Corp GEO SAB de CV - Series B* 87,300 264,786 Banque Marocaine du Commerce
 Corp Interamericana de Exterieur 5,670 171,587
 Entretenimiento SAB de CV Brasseries Maroc 171 62,016
 - Series B* 18,679 10,017 Ciments du Maroc 250 52,537
 Corp Moctezuma, SAB de CV 20,900 56,629 Compagnie Generale Immobiliere 270 63,446
 Desarrolladora Homex SAB de CV* 9,200 43,493 Credit Immobilier et Hotelier 800 33,518
 Empresas ICA SAB de CV* 47,700 122,107 Douja Promotion Groupe Addoha SA 5,300 72,207
 Fomento Economico Mexicano SA Lafarge Ciments 375 79,122
 de CV, ADR 9,285 441,316 Managem* 600 22,143
 Fomento Economico Mexicano, Maroc Telecom 13,200 253,046
 SAB de CV 75,300 358,176 ONA SA 844 134,830
 Grupo Aeroportuario del SAMIR* 440 33,156
 Centro Norte, SAB de CV 17,800 33,689 Societe Nationale d'Investissement 420 92,769
 Grupo Aeroportuario del Sonasid 210 53,929
 Pacifico, SAB de CV - Class B 14,700 54,609 ------------
 Grupo Aeroportuario del TOTAL MOROCCO 1,345,738
 Sureste, SAB de CV - Class B 7,500 39,691 ------------
 Grupo Bimbo SAB de CV - Series A 9,900 88,400 NETHERLANDS -- 3.6%
 Grupo Carso SAB de CV - Series A1 34,000 130,074 Aegon NV* 31,904 218,473
 Grupo Elektra SAB de CV 1,800 90,264 Akzo Nobel NV 5,306 302,394
 Grupo Financiero Banorte SAB Amrest Holdings NV* 1,200 31,632
 de CV - Series O 159,308 706,618 Amsterdam Commodities NV 3,431 27,156
 Grupo Financiero Inbursa SAB ASML Holding NV 2,840 101,497
 de CV - Series O 75,000 260,843 Ballast Nedam 600 10,859
 Grupo Mexico SAB de CV - Series B 414,073 1,113,237 Corio NV 1,644 109,769



 14


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 European Aeronautic Defence Zenith Bank, Ltd.* 401,100 $ 50,743
 and Space Co. NV 50,414 $ 1,014,231 ------------
 Gamma Holding NV* 656 10,810 TOTAL NIGERIA 893,931
 Heineken Holding NV 2,275 101,201 ------------
 Heineken NV 5,288 271,764 NORWAY -- 0.4%
 ING Groep NV- CVA* 152,218 1,519,754 Blom ASA* 500 736
 Koninklijke Ahold NV 5,714 76,173 DnB NOR ASA* 19,664 224,658
 Koninklijke DSM NV 11,387 507,769 Kitron ASA 20,000 9,591
 Koninklijke KPN NV 15,922 252,256 Marine Harvest* 42,161 37,456
 Koninklijke Philips Electronics NV 35,322 1,132,586 Norsk Hydro ASA* 41,600 317,082
 Koninklijke Philips Norske Skogindustrier ASA* 43,853 66,334
 Electronics NV- NY Regs 7,300 233,746 Orkla ASA 18,775 166,009
 New World Resources NV - Class A* 16,070 186,359 SpareBank 1 SMN 480 3,877
 QIAGEN NV* 331 7,623 Sparebanken OST 6,800 40,046
 Randstad Holdings NV* 2,763 131,306 StatoilHydro ASA 20,999 486,180
 Royal Dutch Shell PLC - ADR 42,599 2,357,003 Storebrand ASA* 14,783 116,882
 Royal Dutch Shell PLC - Class A 41,202 1,194,206 Telenor ASA* 13,787 186,975
 Royal Dutch Shell PLC - Class A 92,136 2,664,973 Veidekke ASA 200 1,632
 Royal Dutch Shell PLC - Class B 48,117 1,325,631 Yara International ASA 500 21,705
 SBM Offshore NV 890 17,809 ------------
 STMicroelectronics NV 47,041 468,262 TOTAL NORWAY 1,679,163
 TNT NV 8,629 247,432 ------------
 Unilever NV 53,788 1,626,978 OMAN -- 0.2%
 Wolters Kluwer NV 1,718 37,255 Bank Dhofar SAOG 29,887 59,774
 X5 Retail Group NV - GDR 2,700 93,960 Bank Muscat SAOG 59,125 129,921
 ------------ Dhofar International Development &
 TOTAL NETHERLANDS 16,280,867 Investment Holding Co. SAOG 8,500 9,692
 ------------ Galfar Engineering &
 NEW ZEALAND -- 0.0% Contracting SAOG 34,540 41,807
 Contact Energy, Ltd.* 4,550 20,685 National Bank of Oman, Ltd. 48,170 40,037
 Fletcher Building, Ltd. 9,541 56,592 Oman Cables Industry 12,100 44,566
 Restaurant Brands New Zealand, Ltd. 11,999 17,217 Oman Cement Co. 25,000 43,831
 Telecom Corp. of New Zealand, Ltd. 21,407 32,998 Oman Flour Mills 34,000 59,522
 ------------ Oman International Bank 75,900 63,283
 TOTAL NEW ZEALAND 127,492 Oman National Investment
 ------------ Corp. Holdings 17,745 23,230
 NIGERIA -- 0.2% Oman Oil Marketing Co. 13,300 33,993
 Access Bank PLC 272,500 20,372 Oman Telecommunications Co. 44,700 149,077
 African Petroleum PLC 61,333 16,762 Renaissance Services Co. SAOG* 35,992 74,041
 Diamond Bank PLC 294,470 18,656 ------------
 Ecobank Transnational, Inc. 262,889 33,170 TOTAL OMAN 772,774
 Fidelity Bank PLC 533,000 11,836 ------------
 First Bank of Nigeria PLC 1,247,769 136,385 PAKISTAN -- 0.2%
 First City Monument Bank PLC* 279,500 16,776 Engro Chemical Pakistan, Ltd. 26,290 62,539
 Flour Mills Nigeria PLC 77,990 31,758 Fauji Fertilizer Co., Ltd. 31,350 40,938
 Guaranty Trust Bank PLC 760,045 105,935 HUB Power Co. 151,500 61,808
 Guinness Nigeria PLC 45,800 42,797 Jahangir Siddiqui & Co., Ltd. 142,300 36,710
 Intercontinental Bank PLC* 386,600 5,466 Lucky Cement, Ltd. 51,000 49,355
 Lafarge Cement WAPCO Nigeria PLC 142,000 32,671 MCB Bank Ltd. 49,500 123,184
 Nestle Foods Nigeria PLC 26,500 47,716 National Bank Of Pakistan 64,350 51,963
 Nigerian Breweries PLC 207,400 85,062 Nishat Mills, Ltd. 121,000 81,128
 Oando PLC 56,320 31,925 Oil & Gas Development Co., Ltd. 64,900 100,332
 Oceanic Bank International PLC* 399,300 5,326 Pakistan Petroleum, Ltd. 25,920 60,301
 PlatinumHabib Bank PLC* 199,600 2,210 Pakistan State Oil Co., Ltd. 11,700 43,149
 Skye Bank PLC* 1,315,000 69,630 Pakistan Telecommunication
 UAC of Nigeria PLC 99,400 33,376 Co., Ltd. 135,000 33,766
 Union Bank Nigeria PLC* 214,200 8,228 United Bank, Ltd. 99,000 70,302
 United Bank For Africa PLC* 859,562 87,131 ------------
 TOTAL PAKISTAN 815,475
 ------------
 PERU -- 0.3%
 Alicorp SA(1) 102,800 119,367
 Austral Group SA* 425,900 44,958
 Banco Continental 31,394 93,011



 15


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Cia de Minas Buenaventura SA Orbis SA* 2,900 $ 40,405
 - ADR 6,700 $ 207,499 PBG SA* 1,090 82,229
 Cia Minera Milpo SA 26,516 69,789 Polimex Mostostal SA 51,700 92,302
 Corp Aceros Arequipa SA*(1) 24,050 19,633 Polish Energy Partners SA* 4,100 53,076
 Credicorp, Ltd. 1,900 167,960 Polnord SA* 1,000 13,057
 Ferreyros SA(1) 120,093 122,544 Polska Grupa Farmaceutyczna SA* 1,200 18,883
 Minsur SA* 35,553 88,194 Polski Koncern Miesny Duda SA* 19,100 8,358
 Sociedad Minera Cerro Verde SA 1,400 33,852 Polski Koncern Naftowy Orlen* 17,850 242,449
 Sociedad Minera el Brocal SA 5,700 90,253 Polskie Gornictwo Naftowe I
 Southern Copper Corp. 9,200 291,364 Gazownictwo SA 50,940 65,267
 ------------ Powszechna Kasa Oszczednosci
 TOTAL PERU 1,348,424 Bank Polski SA 67,526 944,362
 ------------ Przedsiebiorstwo Eksportu I
 PHILIPPINES -- 0.4% Importu Kopex SA* 3,300 26,189
 Aboitiz Equity Ventures, Inc.(1) 1,086,900 324,699 Synthos SA* 99,800 61,139
 Atlas Consolidated Mining & Telekomunikacja Polska SA 46,720 265,116
 Development* 330,000 74,851 TVN SA 25,250 159,105
 Ayala Land, Inc. 285,100 82,016 Vistula Group SA* 12,900 13,277
 Banco De Oro Unibank, Inc. 52,400 48,121 Zaklad Przetworstwa
 Bank of the Philippine Islands 55,580 55,346 Hutniczego Stalprodukt SA 250 41,317
 Energy Development Corp. 733,750 81,185 ------------
 International Container Term TOTAL POLAND 4,864,410
 Services, Inc. 80,800 41,571 ------------
 Jollibee Foods Corp. 47,600 62,147 PORTUGAL -- 0.1%
 Manila Electric Co. 66,110 257,476 Banco Comercial Portugues SA
 Metropolitan Bank & Trust 88,500 97,920 - Class R 84,962 94,558
 Philex Mining Corp.* 338,750 101,198 Banco Espirito Santo SA* 5,165 27,905
 Philippine Long Distance Cimpor Cimentos de Portugal
 Telephone Co. 3,200 171,365 SGPS SA 4,175 31,550
 San Miguel Corp. - Class B 125,900 204,772 Corticeira Amorim SA* 13,603 17,454
 SM Prime Holdings, Inc. 287,400 62,326 EDP - Energias de Portugal SA 18,119 72,023
 Union Bank of Philippines 109,400 99,257 Novabase SGPS SA* 1,671 9,705
 Universal Robina Corp. 59,288 32,799 Portugal Telecom SGPS SA 3,327 37,198
 ------------ ------------
 TOTAL PHILIPPINES 1,797,049 TOTAL PORTUGAL 290,393
 ------------ ------------
 POLAND -- 1.1% QATAR -- 0.4%
 Agora SA* 8,600 80,804 Aamal Co.* 7,250 56,152
 Asseco Poland SA 6,260 124,472 Barwa Real Estate Co. 4,856 42,812
 Bank Handlowy W Warszawie SA* 1,500 42,008 Commercial Bank of Qatar 3,008 61,052
 Bank Millennium SA* 31,428 48,078 Doha Bank QSC 5,658 78,941
 Bank Pekao SA* 12,512 727,085 First Finance Co. 3,938 23,578
 Bank Zachodni WBK SA* 1,860 134,066 Gulf International Services OSC 5,000 45,180
 BRE Bank SA* 650 59,139 Industries Qatar 8,430 266,954
 Budimex SA 950 33,256 Masraf Al Rayan 25,900 96,743
 Cersanit-Krasnystaw SA* 9,300 52,188 Qatar Electricity & Water Co. 2,230 63,207
 ComArch SA* 400 14,969 Qatar Fuel Co.* 1,900 100,192
 Cyfrowy Polsat SA 13,930 76,072 Qatar Gas Transport Co.
 Dom Development SA 1,800 34,877 Nakilat* 20,100 125,866
 Eurocash SA 11,800 78,485 Qatar Insurance Co. 1,715 30,051
 Galp Energia SGPS SA - B Shares 3,191 55,426 Qatar International Islamic Bank 1,680 21,317
 Getin Holding SA* 18,000 67,738 Qatar Islamic Bank 4,370 96,378
 Globe Trade Centre SA* 8,100 70,321 Qatar National Bank 4,231 157,127
 Grupa Kety SA* 450 18,037 Qatar Navigation 2,253 45,048
 Grupa Lotos SA* 2,600 26,850 Qatar Real Estate Investment Co. 3,864 35,021
 ING Bank Slaski SA* 200 52,230 Qatar Shipping Co.* 3,740 40,266
 KGHM Polaksa Miedz SA 18,660 700,909 Qatar Telecom Q-Tel QSC* 4,873 200,488
 LPP SA* 90 58,129 ------------
 Mostalzab SA* 17,000 27,435 TOTAL QATAR 1,586,373
 Mostostal-Warszawa SA* 2,300 60,386 ------------
 Multimedia Polska SA* 19,300 56,685 ROMANIA -- 0.2%
 Netia SA* 21,500 38,234 Antibiotice 128,000 28,084
 Banca Transilvania 300,245 228,828
 Biofarm Bucuresti* 1,024,687 80,800



 16


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 BRD-Groupe Societe Generale 78,200 $ 402,488 CapitaLand, Ltd. 80,000 $ 227,027
 SNP Petrom SA* 1,768,000 200,660 CapitaMall Trust 18,000 22,774
 Transelectrica SA* 6,650 42,564 Chemoil Energy, Ltd. 59,000 20,945
 ------------ City Developments, Ltd. 10,000 75,771
 TOTAL ROMANIA 983,424 ComfortDelgro Corp., Ltd. 10,000 11,151
 ------------ Cosco Corp. Singapore, Ltd 20,000 17,728
 RUSSIA -- 2.6% CSE Global, Ltd. 54,000 38,214
 AvtoVAZ* 92,900 48,582 DBS Group Holdings, Ltd. 85,000 868,866
 CTC Media, Inc.* 4,400 75,768 Fraser & Neave, Ltd. 62,000 212,731
 Evraz Group SA - GDR* 1,400 55,622 Golden Agri-Resources, Ltd.* 973,040 403,419
 Fifth Power Generation Co., OGK-5* 321,200 28,908 GP Batteries International, Ltd. 9,000 11,451
 Gazprom Neft JSC - ADR 600 15,726 GuocoLeisure, Ltd. 11,000 5,268
 Gazprom OAO - ADR (London Exchange) 55,100 1,285,483 Hi-P International, Ltd. 126,000 57,193
 Gazprom OAO - ADR (New York Ho Bee Investment, Ltd. 68,000 87,494
 Exchange) 35,720 838,348 Hong Leong Finance, Ltd. 15,000 32,596
 Irkutsk Elek Net 82,604 4,714 Jardine Cycle & Carriage, Ltd. 33,196 697,165
 Irkutskenergo OJSC* 79,800 47,880 K1 Ventures, Ltd. 373,000 45,327
 JSC Gazprom Neft 8,500 46,325 Keppel Corp., Ltd. 8,000 52,153
 KAMAZ* 31,400 80,471 Macquarie International
 LUKOIL - ADR (London Exchange) 10,700 606,690 Infrastructure Fund, Ltd. 464,000 174,131
 LUKOIL - ADR (New York Exchange) 9,006 510,640 Neptune Orient Lines, Ltd. 46,500 66,811
 Magnit OAO 1,600 139,200 Oversea-Chinese Banking Corp., Ltd. 41,029 255,451
 Magnit OAO RegS GDR 2,503 43,552 QAF, Ltd. 56,000 24,819
 Mechel - Sponsored ADR 15,875 451,167 SembCorp Industries, Ltd. 27,000 79,710
 Mining & Metallurgical Co., Singapore Airlines, Ltd. 20,000 217,306
 Norilsk Nickel - ADR* 43,792 807,524 Singapore Airport Terminal
 MMC Norilsk Nickel JSC - ADR* 21,000 386,610 Services, Ltd. 6,441 12,201
 Mobile Telesystems OJSC 25,700 222,305 Singapore Exchange, Ltd. 2,000 10,937
 Mobile Telesystems OJSC - ADR 6,187 343,379 Singapore Press Holdings, Ltd. 21,000 57,343
 NovaTek OAO - GDR 1,951 142,033 Singapore Telecommunications, Ltd. 81,000 183,545
 Novolipetsk Steel - GDR*(1) 2,800 97,020 United Overseas Bank, Ltd. 7,000 96,172
 Novorossiysk Sea Trade Port - GDR 300 3,600 United Overseas Land Group, Ltd. 43,000 119,876
 Polyus Gold Co. - ADR 2,400 61,824 UOB-Kay Hian Holdings, Ltd. 10,000 12,080
 Rosneft Oil Co. - GDR 120,888 958,642 Venture Corp., Ltd. 13,000 81,032
 Rostelecom - ADR 1,866 55,514 ------------
 Sberbank of Russian Federation 878,701 2,574,594 TOTAL SINGAPORE 4,307,412
 Severstal*(1) 4,300 57,620 ------------
 Severstal - GDR Reg S(1) 826 11,068 SLOVENIA -- 0.1%
 Severstal RegS GDR* 2,200 32,032 Gorenje Velenje* 2,600 48,005
 Sistema JSFC - GDR* 3,500 95,200 Krka dd Novo mesto 2,670 261,021
 Surgutneftegaz - ADR 10,000 55,500 Luka Koper* 1,120 33,310
 Surgutneftegaz - ADR 37,500 371,625 Mercator Poslovni Sistem 300 63,908
 Tatneft - ADR 6,638 207,769 Nova Kreditna Banka Maribor 4,800 74,816
 Tatneft - GDR 4,000 125,200 Petrol 110 44,425
 TGK-2* 665,824 200 SAVA 100 28,763
 TMK OAO - GDR* 1,300 26,845 Telekom Slovenije DD 400 66,863
 Uralkali - GDR 808 16,960 ------------
 Vimpel-Communications - ADR 13,602 250,413 TOTAL SLOVENIA 621,111
 Vsmpo-Avisma Corp. 200 22,400 ------------
 VTB Bank OJSC 15,256 80,857 SOUTH AFRICA -- 2.1%
 Wimm-Bill-Dann Foods OJSC - ADR 7,200 161,424 ABSA Group, Ltd. 24,861 485,700
 X5 Retail Group NV - GDR* 1,850 64,380 Adcorp Holdings, Ltd. 10,600 37,256
 ------------ Aeci, Ltd. 3,000 26,628
 TOTAL RUSSIA 11,511,614 African Bank Investments, Ltd. 11,480 56,110
 ------------ African Rainbow Minerals, Ltd. 2,100 55,267
 SINGAPORE -- 1.0% Allied Electronics Corp., Ltd. 4,900 18,736
 Boustead Singapore Ltd. 47,000 28,725 Anglo Platinum, Ltd.* 900 91,436
 AngloGold Ashanti, Ltd. 3,643 139,018
 ArcelorMittal South Africa, Ltd.* 2,610 33,167
 Aspen Pharmacare Holdings, Ltd.* 18,382 200,760



 17


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Astral Foods, Ltd. 1,200 $ 18,699 Daelim Industrial Co., Ltd. 5,247 $ 347,806
 Aveng, Ltd. 19,000 98,081 Daewoo Engineering &
 AVI, Ltd. 12,300 40,191 Construction Co., Ltd. 4,364 42,427
 Barloworld, Ltd. 7,400 50,077 Daewoo International Corp. 1,379 43,882
 Bidvest Group, Ltd. 12,625 236,164 Daewoo Shipbuilding & Marine
 DataTec, Ltd. 18,700 83,439 Engineering Co., Ltd. 870 16,686
 Discovery Holdings, Ltd. 7,999 37,888 Dong-A Pharmaceutical Co., Ltd. 520 53,106
 Eqstra Holdings, Ltd.* 9,300 7,789 Dongkuk Steel Mill Co., Ltd. 1,010 20,531
 Exxaro Resources, Ltd. 3,700 63,955 Doosan Heavy Industries and
 FirstRand, Ltd. 59,000 163,624 Construction Co., Ltd. 430 34,432
 Foschini, Ltd. 5,700 52,432 Doosan Infracore Co., Ltd.* 2,200 39,860
 Fountainhead Property Trust 18,100 16,898 GS Engineering & Construction Corp. 690 59,459
 Gold Fields, Ltd. 10,200 129,115 GS Holdings Corp. 9,970 353,349
 Grindrod, Ltd. 12,600 26,484 GwangjuShinsegae Co., Ltd. 200 22,714
 Group Five, Ltd. 4,500 22,921 Hana Financial Group, Inc. 4,270 132,276
 Growthpoint Properties, Ltd. 36,400 73,712 Hanjin Shipping Co., Ltd.* 1,316 36,115
 Harmony Gold Mining Co., Ltd. 19,764 186,684 Hanjin Shipping Co., Ltd.* 254 4,582
 Impala Platinum Holdings, Ltd. 31,294 919,432 Hankuk Electric Glass Co., Ltd. 690 20,399
 Imperial Holdings, Ltd. 12,694 174,784 Hanmi Pharm Co., Ltd. 330 31,937
 Investec, Ltd. 7,000 60,056 Hanwha Chem Corp. 18,480 225,396
 JSE, Ltd. 2,600 23,131 Hanwha Corp. 1,980 72,186
 Kumba Iron Ore, Ltd. 1,400 67,830 Hite Brewery Co., Ltd. 170 21,411
 Liberty Holdings, Ltd. 2,800 27,870 Honam Petrochemical Corp. 750 75,235
 Massmart Holdings, Ltd. 22,463 334,644 Hynix Semiconductor, Inc.* 28,590 674,668
 Medi-Clinic Corp, Ltd. 17,600 65,241 Hyosung Corp. 3,210 230,370
 Mondi, Ltd. 6,100 45,056 Hyundai Department Store Co., Ltd. 430 39,334
 MTN Group, Ltd. 50,200 771,910 Hyundai Development Co. 700 20,447
 Murray & Roberts Holdings, Ltd. 11,000 65,377 Hyundai Engineering &
 Nampak, Ltd. 11,100 27,279 Construction Co., Ltd. 1,210 66,411
 Naspers, Ltd. 8,501 369,393 Hyundai Heavy Industries 320 67,029
 Nedbank Group, Ltd. 29,265 562,499 Hyundai Merchant Marine Co., Ltd. 2,080 56,162
 Netcare, Ltd.* 31,200 56,542 Hyundai Mipo Dockyard Co., Ltd. 370 50,851
 Northam Platinum, Ltd. 8,000 52,720 Hyundai Mobis 700 92,801
 Pick'n Pay Stores, Ltd. 11,500 67,891 Hyundai Motor Co. 7,298 744,990
 Pretoria Portland Cement Co., Ltd. 4,421 20,758 Hyundai Securities Co.* 4,630 55,652
 Raubex Group, Ltd. 10,200 32,209 Hyundai Steel Co. 750 56,940
 Remgro, Ltd. 7,500 100,910 Industrial Bank of Korea 17,990 235,319
 Reunert, Ltd. 6,700 53,342 KB Financial Group, Inc. 4,381 211,413
 RMB Holdings, Ltd. 18,000 79,994 KB Financial Group, Inc. - ADR* 1,293 62,012
 SA Corporate Real Estate Fund 99,600 38,288 KCC Corp. 120 37,545
 Sanlam, Ltd. 138,712 473,625 Kia Motors Corp. 21,610 482,259
 Sappi, Ltd.* 13,300 59,162 Kolon Industries, Inc.* 1,533 62,867
 Sasol, Ltd. 8,800 365,749 Korea Electric Power Corp.* 5,000 161,518
 Shoprite Holdings, Ltd. 22,411 223,687 Korea Exchange Bank 27,040 322,630
 Standard Bank Group, Ltd. 48,359 760,864 Korea Express Co., Ltd.* 266 15,540
 Steinhoff International Korea Gas Corp. 4,152 175,408
 Holdings, Ltd.* 148,660 408,196 Korea Line Corp.* 330 18,375
 Sun International, Ltd.* 4,500 56,870 Korea Zinc Co., Ltd. 1,910 340,996
 Telkom SA, Ltd. 10,100 47,354 Korean Air Lines Co., Ltd.* 800 47,019
 The Spar Group, Ltd. 7,200 73,643 KT Corp. 8,011 331,004
 Tiger Brands, Ltd. 3,800 95,681 KT&G Corp. 1,400 77,458
 Truworths International, Ltd. 11,700 84,010 LG Chem, Ltd. 1,627 345,834
 Wilson Bayly Holmes-Ovcon, Ltd. 2,800 45,573 LG Corp. 11,664 731,932
 Woolworths Holdings, Ltd. 123,903 383,255 LG Display Co., Ltd. 18,950 669,099
 ------------ LG Electronics, Inc. 2,424 246,374
 TOTAL SOUTH AFRICA 9,547,056 LG Hausys, Ltd. 71 7,028
 ------------
 SOUTH KOREA -- 3.5%
 Amorepacific Corp. 70 50,917
 Busan Bank 17,045 183,037
 Cheil Industries, Inc. 890 50,264
 CJ Corp. 630 37,529



 18


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 LG Household & Health Care, Ltd. 300 $ 80,207 Telefonica SA 38,534 $ 912,891
 LG Telecom, Ltd. 5,860 39,983 ------------
 Lotte Shopping Co., Ltd. 1,311 380,050 TOTAL SPAIN 5,641,329
 Macquarie Korea Infrastructure Fund 5,769 24,449 ------------
 Mirae Asset Securities Co., Ltd.* 388 19,547 SWEDEN -- 1.1%
 NHN Corp.* 380 60,453 Acando AB 35,171 67,706
 OCI Co., Ltd. 270 47,010 Alfa Laval AB 457 6,728
 POSCO 1,465 683,654 Assa Abloy AB 1,056 20,665
 POSCO - ADR 6,350 743,014 Atlas Copco AB - Class A 6,294 97,627
 S-Oil Corp. 740 37,280 Bankas Snoras AB* 30,780 14,328
 Samsung C&T Corp. 1,000 53,825 Bilia AB- Class A* 2,569 30,598
 Samsung Card Co. 1,000 45,340 Boliden AB 2,644 37,789
 Samsung Electro-Mechanics Co., Ltd. 1,070 108,754 Electrolux AB - Series B 22,913 523,591
 Samsung Electronics Co., Ltd. 4,009 2,898,371 Getinge AB - Class B 2,137 51,230
 Samsung Engineering Co., Ltd. 1,030 106,509 Hennes & Mauritz AB - Class B 3,214 208,804
 Samsung Fire & Marine Insurance Holmen AB - Class B 2,300 61,955
 Co., Ltd.* 780 125,123 Industrial & Financial
 Samsung Heavy Industries Co., Ltd. 1,680 39,125 Systems - Class B 5,400 68,803
 Samsung SDI Co., Ltd. 670 84,087 Investor AB -Class B* 24,182 463,840
 Samsung Securities Co., Ltd.* 540 29,113 Micronic Laser Systems AB* 3,801 9,265
 Shinhan Financial Group Co., Ltd. 7,270 285,608 Nordea Bank AB 71,142 702,001
 Shinsegae Co., Ltd. 150 70,927 SAAB AB - Class B 3,200 48,749
 SK Energy Co., Ltd. 800 85,907 Sandvik AB 22,013 275,140
 SK Holdings Co., Ltd. 320 28,424 Scania AB - Class B 2,786 44,063
 SK Telecom Co., Ltd. 900 138,009 Skandinaviska Enskilda Banken AB* 16,949 108,281
 STX Offshore & Shipbuilding Co., Skanska AB - Class B 14,240 258,744
 Ltd. 1,560 17,786 SKF AB - Class B 2,244 39,873
 Tong Yang Securities, Inc.* 5,400 50,113 SSAB AB - B Shares 1,865 30,271
 Woongjin Coway Co., Ltd. 1,510 46,777 SSAB AB - Class A 6,267 112,658
 Woori Finance Holdings Co., Ltd. 51,330 753,085 Svenska Cellulosa AB - Class B 30,926 436,012
 Woori Investment & Securities Svenska Handelsbanken AB - Class A 5,990 175,537
 Co., Ltd.* 1,600 22,202 Swedbank AB (ForeningsSparbanken
 ------------ AB) - Class A* 3,610 37,047
 TOTAL SOUTH KOREA 15,817,553 Swedish Match AB 833 19,912
 ------------ Tele2 AB - Class B 7,823 130,553
 SPAIN -- 1.3% Telefonaktiebolaget LM
 Abertis Infraestructuras SA 666 12,818 Ericsson - ADR 34,600 360,878
 Acciona SA 1,600 177,444 Telefonaktiebolaget LM
 Acerinox SA 3,453 67,975 Ericsson - Class B 17,282 182,140
 Banco Bilbao Vizcaya Argentaria SA 44,734 612,058 TeliaSonera AB 34,292 243,396
 Banco de Sabadell SA 41,306 228,071 Volvo AB - Class B 13,837 139,221
 Banco de Valencia SA 3,623 23,097 ------------
 Banco Popular Espanol SA 30,936 227,723 TOTAL SWEDEN 5,007,405
 Banco Santander Central ------------
 Hispano SA - ADR 55,039 730,368 SWITZERLAND -- 3.0%
 Banco Santander SA 99,108 1,317,192 ABB, Ltd.* 40,039 874,524
 Caja de Ahorros del Mediterraneo 7,225 60,015 Adecco SA 2,787 158,196
 Criteria Caixacorp SA 25,583 126,778 Advanced Digital Broadcast
 Ferrovial SA 4,456 43,333 Holdings SA* 421 17,768
 Gas Natural SDG SA 4,700 86,778 Aryzta AG 911 39,917
 Iberdrola Renovables SA 18,403 76,433 Baloise Holding AG 2,362 209,453
 Iberdrola SA 26,216 222,190 Banque Cantonale Vaudoise 90 41,995
 Industria de Diseno Textil SA 1,556 102,570 Bossard Holding AG 182 12,687
 Repsol YPF SA 7,016 166,118 Charles Voegele Holding AG* 1,600 72,079
 Repsol YPF SA - ADR 18,295 435,055 Coltene Holding AG 796 45,258
 Sacyr Vallehermoso SA* 1,408 12,422 Compagnie Financiere Richemont SA 12,633 489,193
 Credit Suisse Group - ADR 9,800 503,524
 Credit Suisse Group AG 9,613 495,511
 Emmi AG 100 13,932
 Flughafen Zuerich AG 192 68,285
 Givaudan SA 148 129,837



 19


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Holcim, Ltd.* 9,903 $ 738,217 Formosa Petrochemical Corp. 33,990 $ 89,583
 Julius Baer Group, Ltd. 1,732 62,831 Formosa Plastics Corp. 77,040 169,809
 Kardex AG* 893 29,642 Foxconn Technology Co., Ltd. 34,000 124,724
 Lonza Group AG 2,318 189,063 Fubon Financial Holding Co., Ltd.* 87,000 105,743
 Nestle SA 48,885 2,503,594 HannStar Display Corp.* 144,049 31,751
 Nobel Biocare Holding AG 1,491 39,877 High Tech Computer Corp. 17,770 207,591
 Novartis AG 4,100 221,810 HON HAI Precision Industry Co., Ltd. 312,708 1,353,904
 Novartis AG 29,228 1,578,656 Hotai Motor Co., Ltd. 20,000 44,146
 Roche Holding AG - Genusschein 3,881 629,411 Hua Nan Financial Holdings Co., Ltd. 70,390 43,110
 Schindler Holding AG 485 42,134 Huaku Construction Co., Ltd. 48,000 124,542
 Swatch Group AG 751 239,459 Innolux Display Corp. 37,389 57,041
 Swiss Life Holding AG* 991 130,172 KGI Securities Co., Ltd. 101,000 47,386
 Swiss Reinsurance* 11,732 577,476 KGI Securities Co., Ltd. GDR 144A* 11,721 100,097
 Swisscom AG 290 105,835 Lien Hwa Industrial Corp. 72,918 35,474
 Swisslog Holding AG 70,393 67,429 Lite-On Technology Corp. 139,207 184,759
 Syngenta AG 520 144,401 MediaTek, Inc. 21,070 365,564
 UBS AG* 68,727 1,117,205 Mega Financial Holding Co., Ltd. 135,000 78,217
 Walter Meire AG* 12 1,615 Motech Industries, Inc. 11,513 48,941
 Zurich Financial Services AG 6,673 1,710,652 Nan Kang Rubber Tire Co., Ltd.* 46,800 68,598
 ------------ Nan Ya Plastics Corp. 93,730 191,250
 TOTAL SWITZERLAND 13,301,638 Nanya Technology Corp.* 38,890 37,105
 ------------ Novatek Microelectronics Corp., Ltd. 89,145 277,894
 TAIWAN -- 2.8% POU Chen Corp. 45,252 36,976
 Acer, Inc. 100,855 297,884 Powerchip Semiconductor Corp.* 107,000 17,520
 Advanced Semiconductor Powertech Technology, Inc. 51,000 182,269
 Engineering, Inc. 64,961 59,320 President Chain Store Corp. 36,576 91,215
 Asia Cement Corp. 38,213 37,301 ProMos Technologies, Inc.* 114,000 8,328
 Asia Optical Co., Inc. 11,221 22,472 Qisda Corp.* 69,120 38,959
 Asustek Computer, Inc. 140,084 243,927 Quanta Computer, Inc. 40,571 78,694
 AU Optronics Corp. 54,125 61,525 Realtek Semiconductor Corp. 8,653 23,350
 Capital Securities Corp.* 79,200 40,775 Richtek Technology Corp. 27,000 289,061
 Catcher Technology Co., Ltd. 9,438 23,180 Shin Kong Financial Holding Co.,
 Cathay Financial Holding Co., Ltd.* 355,000 592,449 Ltd.* 74,319 29,252
 Cathay Real Estate Development Siliconware Precision
 Co., Ltd. 84,000 35,575 Industries Co. 36,000 43,416
 Chang Hwa Commercial Bank 67,000 30,380 Sincere Navigation 169,000 214,722
 Cheng Shin Rubber Industry Co., Sino-American Silicon Products, Inc. 11,741 29,983
 Ltd. 45,540 96,936 SinoPac Financial Holdings
 Chicony Electronics Co., Ltd. 99,000 263,414 Co., Ltd. 121,000 43,054
 China Airlines* 80,004 29,222 Synnex Technology International
 China Development Financial Corp. 21,780 48,007
 Holding Corp.* 188,979 53,555 Tainan Spinning Co., Ltd. 108,000 43,529
 China Motor Corp. 73,000 49,536 Taishin Financial Holding
 China Steel Corp. 234,675 242,744 Co., Ltd.* 76,450 31,054
 Chinatrust Financial Holding Taiwan Cement Corp. 56,560 53,340
 Co., Ltd. 593,861 336,592 Taiwan Cooperative Bank 80,500 48,668
 Chunghwa Picture Tubes, Ltd.* 166,000 18,974 Taiwan Fertilizer Co., Ltd. 16,000 51,137
 Chunghwa Telecom Co., Ltd. 107,781 210,756 Taiwan Kolin Co., Ltd.* 141,000 --
 Compal Electronics, Inc. 125,580 164,300 Taiwan Mobile Co., Ltd. 156,527 294,739
 D-Link Corp. 36,046 37,229 Taiwan Semiconductor
 Delta Electronics, Inc. 33,888 107,241 Manufacturing Co., Ltd. 836,699 1,620,284
 E.Sun Financial Holding Co., Ltd. 310,048 125,452 Tatung Co., Ltd.* 102,000 24,410
 Epistar Corp. 67,099 222,903 Tripod Technology Corp. 101,270 342,796
 Far Eastern Department Stores Tung Ho Steel Enterprise Corp. 37,476 42,541
 Co., Ltd. 43,260 35,825
 Far EasTone Telecommunications Co.,
 Ltd. 36,000 43,076
 First Financial Holding Co., Ltd. 76,760 42,177
 First Steamship Co., Ltd. 22,824 36,509
 Formosa Chemicals & Fibre
 Corp. 66,950 156,634



 20


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Uni-President Enterprises Corp. 295,399 $ 336,251 Thai Beverage PCL 344,000 $ 72,540
 Unimicron Technology Corp. 37,370 47,951 Thai Oil PCL 53,300 82,418
 United Microelectronics Corp. 131,000 69,505 Thai Union Frozen Products PCL 48,300 56,389
 Walsin Lihwa Corp.* 120,000 47,232 Thanachart Capital PCL 120,600 92,497
 Winbond Electronics Corp.* 184,000 51,797 Thoresen Thai Agencies PCL 8,760 6,583
 Wintek Corp.* 58,000 52,598 TMB Bank PCL* 546,200 23,649
 Wistron Corp. 27,653 50,242 Total Access Communication PCL 65,000 77,350
 WPG Holdings Co., Ltd. 108,000 176,497 ------------
 Yang Ming Marine Transport Corp. 83,598 31,325 TOTAL THAILAND 4,299,922
 Yuanta Financial Holding Co., Ltd. 100,000 59,985 ------------
 Yulon Motor Co., Ltd. 157,640 174,974 TURKEY -- 1.3%
 Zinwell Corp. 22,435 42,174 Adana Cimento - Class A 6,167 22,144
 ------------ Akbank TAS 33,677 217,450
 TOTAL TAIWAN 12,372,927 Akcansa Cimento AS 4,900 22,438
 ------------ Akenerji Electrik Uretim AS 7,800 89,422
 THAILAND -- 1.0% Aksigorta AS* 19,400 27,226
 Advanced Info Service PCL - For Reg 79,400 211,791 Alarko Holding AS 12,928 32,709
 Airports of Thailand PCL 56,200 66,481 Anadolu Efes Biracilik ve
 Bangkok Bank PCL 69,300 294,688 Malt Sanayii AS 19,263 203,069
 Bangkok Dusit Medical Service PCL 20,600 16,246 Anadolu Efes Biracilik ve
 Bangkok Expressway PCL 50,500 32,016 Malt Sanayii AS - ADR 3 6
 Banpu PCL 15,600 298,154 Arcelik AS 76,660 310,630
 BEC World PCL 76,100 58,366 Asya Katilim Bankasi AS* 84,198 225,231
 Bumrungrad Hospital PCL 54,000 51,353 Aygaz AS 11,368 47,187
 CalComp Electronics Thailand PCL 211,500 19,230 Bim Birlesik Magazalar AS 4,050 210,805
 Central Pattana PCL 44,600 28,552 Cimsa Cimento Sanayi ve Tica 4,400 24,787
 Charoen Pokphand Foods PCL 382,800 177,578 Dogan Sirketler Grubu Holding AS 127,009 97,072
 CP ALL PCL* 203,400 172,986 Dogan Yayin Holding* 36,433 39,128
 Delta Electronics Thai PCL 52,900 30,757 Dogus Otomotiv Servis ve
 Electricity Generating PCL 15,300 37,972 Ticaret AS* 6,500 25,268
 Glow Energy PCL 53,700 63,938 Eczacibasi Ilac Sanayi 19,500 35,974
 Hana Microelectronics PCL 230,900 154,957 Enka Insaat ve Sanayi AS 29,521 137,126
 IRPC PCL 624,900 90,058 Eregli Demir ve Celik
 Kasikornbank PCL 58,900 187,620 Fabrikalari TAS* 62,051 186,429
 Kasikornbank PCL 100 298 Ford Otomotiv Sanayi AS 25,884 187,596
 Khon Kaen Sugar Industry PCL 127,100 44,810 Haci Omer Sabanci Holding AS* 13,891 59,488
 Krung Thai Bank PCL 345,500 128,220 Haci Omer Sabinci Holding AS 134,366 575,445
 Major Cineplex Group PCL 98,300 27,512 Hurriyet Gazetecilik AS* 14,172 15,500
 Minor International PCL 117,450 39,955 Ihlas Holding* 53,700 24,059
 PTT Aromatics & Refining PCL 59,778 53,150 Is Gayrimenkul Yatirim
 PTT Chemical PCL - Foreign 28,200 82,851 Ortakligi AS 18,400 20,246
 PTT Exploration & Production PCL 31,800 146,043 Kardemir Karabuk Demir Celik
 PTT Exploration & Production Sanayi ve Ticaret AS* 68,862 28,584
 PCL - For Reg 21,400 98,281 KOC Holding AS* 136,032 466,062
 PTT PCL 70,700 572,859 Koza Anadolu Metal Madencilik AS* 21,000 53,408
 Quality House PCL 838,700 62,770 Petkim Petrokimya Holding AS* 16,620 98,006
 Ratchaburi Electricity Petrol Ofisi AS* 6,494 27,598
 Generating Holding PCL 46,000 51,570 Sekerbank TAS* 23,875 39,012
 Siam Cement PCL 12,000 97,232 Tofas Turk Otomobil Fabrikasi AS 11,700 43,940
 Siam City Bank PCL 63,100 61,471 Trakya Cam Sanayi AS* 27,861 40,385
 Siam City Cement PCL 4,600 32,720 Tupras-Turkiye Petrol Rafine* 11,946 271,545
 Siam Commercial Bank PCL 22,000 62,595 Turcas Petrolculuk AS 9,099 29,256
 Siam Commercial Bank PCL - For Reg 72,800 207,132 Turk Hava Yollari Anonim Ortakligi 21,000 71,949
 Siam Makro PCL 18,000 53,997 Turk Telekomunikasyon AS 30,747 103,317
 Sino Thai Engineering & Turkcell Iletisim Hizmet AS 37,209 226,771
 Construction PCL 180,500 32,098 Turkiye Garanti Bankasi AS 146,692 686,222
 Thai Airways International PCL 46,000 40,189 Turkiye Halk Bankasi AS 50,722 367,611
 Turkiye Is Bankasi 42,871 139,537
 Turkiye Is Bankasi AS* 19,771 62,008



 21


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Turkiye Sinai Kalkinma
 Bankasi AS* 28,950 $ 43,108 Carnival PLC 1,991 $ 81,727
 Turkiye Vakiflar Bankasi Tao* 26,700 71,423 Carnival PLC - ADR 6,900 282,486
 Ulker Biskuvi Sanayi AS 8,021 19,448 Carphone Warehouse Group PLC* 7,871 19,050
 Yapi ve Kredi Bankasi AS* 38,178 97,096 Centrica PLC 20,837 92,931
 Yazicilar Holding AS 13,300 83,686 Chime Communications PLC 13,640 37,051
 ------------ Clarkson PLC 2,608 34,431
 TOTAL TURKEY 5,906,407 Cobham PLC 10,288 40,123
 ------------ Colt Telecom Group SA* 16,600 32,017
 UKRAINE -- 0.1% Compass Group PLC 5,144 41,060
 UkrTelecom - GDR*(1) 75,799 353,206 Computacenter PLC 13,947 64,975
 ------------ Costain Group PLC 30,304 11,037
 TOTAL UKRAINE 353,206 Dangote Sugar Refinery PLC 211,920 26,329
 ------------ Dart Group PLC 5,502 4,258
 UNITED ARAB EMIRATES -- 0.3% Delta PLC 87,839 253,594
 Aabar Investments PJSC* 76,000 48,418 Diageo PLC 8,822 148,064
 Abu Dhabi Commercial Bank 60,000 33,814 Drax Group PLC 8,136 46,126
 Abu Dhabi National Hotels 86,800 101,617 DS Smith PLC 33,297 68,112
 Air Arabia 591,400 157,793 easyJet PLC* 7,181 50,007
 Aldar Properties PJSC* 61,000 76,561 Eurasian Natural Resources Corp. 15,500 280,373
 Amlak Finance PJSC* 50,900 12,999 Fiberweb PLC 23,108 18,059
 Dana Gas PJSC* 427,000 103,466 GlaxoSmithKline PLC 78,100 1,499,826
 DP World, Ltd. 343,400 176,851 GlaxoSmithKline PLC - ADR 183 7,049
 Dubai Financial Market 34,800 18,002 Hammerson PLC 15,382 91,828
 Dubai Investments PJSC 132,732 36,860 HFC Bank Ghana, Ltd. 243,750 115,463
 Dubai Islamic Bank PJSC 62,427 46,230 Hogg Robinson Group PLC 6,272 2,998
 Emaar Properties PJSC* 193,400 210,618 Home Retail Group PLC 39,704 163,279
 Emirates NBD PJSC 52,030 43,630 HSBC Holdings PLC 258,862 2,624,053
 First Gulf Bank PJSC 9,400 46,066 Imperial Tobacco Group PLC 59,085 1,802,192
 Gulf Cement Co. 65,000 36,986 International Power PLC 112,335 543,622
 National Bank of Abu Dhabi PJSC 37,620 122,908 Invensys PLC 7,598 39,282
 RAK Properties 150,000 22,461 Investec PLC (Johannesburg
 Tabreed* 180,472 24,076 Exchange) 54,557 445,294
 Union National Bank/Abu Dhabi* 39,600 37,627 J Sainsbury PLC 131,469 653,574
 Union Properties PJSC* 65,340 9,072 Kazakhmys PLC* 30,431 705,152
 ------------ Kingfisher PLC 102,026 331,943
 TOTAL UNITED ARAB EMIRATES 1,366,055 Land Securities Group PLC 8,007 82,381
 ------------ Lavendon Group PLC 3,518 4,084
 UNITED KINGDOM -- 7.9% Legal & General Group PLC 68,684 91,773
 3i Group PLC 10,555 46,642 Liberty International PLC 6,786 51,849
 Amlin PLC 16,108 94,867 Lloyds Banking Group PLC* 679,524 647,269
 Anglo American PLC (London Lonmin PLC* 3,518 108,800
 Exchange)* 7,891 344,149 Man Group PLC 32,182 117,939
 Anite PLC 15,823 7,864 Marks & Spencer Group PLC 8,579 48,182
 Antofagasta PLC (Johannesburg Mondi PLC 5,165 36,376
 Exchange) 26,537 418,806 National Grid PLC 5,365 52,227
 ARM Holdings PLC 12,615 45,618 Next PLC 1,161 38,126
 Associated British Foods PLC 14,885 221,023 Old Mutual PLC* 306,405 569,587
 AstraZeneca PLC 37,409 1,668,413 Pearson PLC 4,379 68,843
 Aviva PLC 126,284 738,372 Pearson PLC - ADR 21,390 335,609
 BAE Systems PLC 66,795 376,354 Peter Hambro Mining PLC 2,356 42,545
 Barclays PLC 229,156 1,252,920 Prudential PLC 17,420 144,730
 BG Group PLC 11,412 197,508 Reckitt Benckiser Group PLC 9,320 511,555
 BHP Billiton PLC 28,852 989,492 Rexam PLC 33,951 150,905
 BP PLC 299,311 2,831,504 Rio Tinto PLC 14,470 857,467
 BP PLC - ADR 5,586 318,793 Rolls-Royce Group PLC* 15,232 137,647
 Braemar Shipping Services PLC 1,198 8,126 Royal Bank of Scotland Group PLC* 518,797 346,400
 British Airways PLC* 20,841 76,852 RPC Group PLC 5,700 22,489
 British Land Co. PLC 8,487 61,961 RSA Insurance Group PLC 76,742 148,481
 British Polythene Industries SABMiller PLC 5,282 154,858
 PLC 2,205 8,432
 BT Group PLC 39,268 73,831
 Burberry Group PLC 2,781 30,153
 Cairn Energy PLC* 6,972 44,119
 Cape PLC* 1,753 6,078



 22


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Schroders PLC 901 $ 19,237 Vanguard International
 Scott Wilson Group PLC 9,500 12,830 Explorer Fund 1,331,423 $ 19,119,231
 Segro PLC 8,032 38,955 ------------
 Senior PLC 82,070 137,493 TOTAL EXCHANGE-TRADED FUNDS
 Severfield-Rowen PLC 18,831 56,295 (Cost $44,999,168) 48,189,509
 Severn Trent PLC 350 6,347 ------------
 Shire PLC 1,885 41,591 PREFERRED STOCK -- 2.2%
 Smith & Nephew PLC 1,511 15,053 BRAZIL -- 1.9%
 Smiths Group PLC - Class B 2,496 43,028 AES Tiete SA, 11.34% 3,080 33,634
 Standard Chartered PLC 13,009 354,847 Banco Bradesco SA, 0.59% 59,320 1,086,102
 Standard Life PLC 102,201 310,645 Banco Itau Holding Financeira
 Talk Talk Telecom Group PLC* 15,741 30,814 SA, 0.44% 47,224 1,034,045
 Tesco PLC 33,560 221,762 Bradespar SA, 0.59% 4,600 112,779
 The Davis Service Group PLC 25,659 164,666 Brasil Telecom SA, 1.14% 11,831 76,041
 The Sage Group PLC 10,061 36,505 Braskem SA - Class A, 0.00%* 3,300 24,123
 The Vitec Group PLC 7,179 44,121 Centrais Eletricas Brasileiras
 Thomas Cook Group PLC 164,443 673,264 SA - Class B, 6.72% 1,568 28,215
 Travis Perkins PLC* 3,143 39,038 Cia Brasileira de Distribuicao
 United Utilities Group PLC 19,814 168,078 Grupo Pao de Acucar - Class
 Vedanta Resources PLC 1,606 67,654 B, 0.00%* 78 2,607
 Vodafone Group PLC 590,505 1,362,056 Cia Brasileira de Distribuicao
 Vodafone Group PLC - ADR 131,509 3,062,845 Grupo Pao de Acucar, 0.64% 3,785 126,545
 Whitbread PLC 5,203 116,380 Cia de Bebidas das Americas,
 WM Morrison Supermarkets PLC 188,794 840,861 0.64% 2,507 230,365
 Wolseley PLC* 6,956 168,047 Cia Energetica de Minas Gerais,
 WPP PLC 33,443 346,620 2.93% 3,826 63,274
 Xstrata PLC* 93,076 1,763,413 Cia Energetica de Sao Paulo,
 ------------ 0.95% 4,100 55,908
 TOTAL UNITED KINGDOM 35,431,809 Cia Vale do Rio Doce - Class A,
 ------------ 3.37% 107,019 2,969,825
 UNITED STATES -- 0.2% Confab Industrial SA, 3.74% 26,459 69,631
 Gerdau Ameristeel Corp. 1,844 14,438 Eletropaulo Metropolitana
 Gerdau Ameristeel Corp. Eletricidade de Sao Paulo SA,
 (Toronto Exchange)* 21,604 170,169 5.41% 9,260 202,868
 Kraft Foods, Inc. - Class A -- -- Fertilizantes Fosfatados SA, 2.48% 4,400 41,641
 Rosneft Oil Co. GDR 29,849 237,598 Gerdau SA, 0.74% 6,900 112,365
 SPDR Gold Trust* 2,365 257,667 Gol Linhas Aereas Inteligentes
 Thomson Reuters Corp. 969 35,175 SA, 3.03% 1,000 12,393
 ------------ Investimentos Itau SA, 0.62% 37,541 257,120
 TOTAL UNITED STATES 715,047 Lojas Americanas SA, 0.35% 17,100 127,407
 ------------ Marcopolo SA, 1.47% 7,900 35,539
 VIETNAM -- 0.2% Metalurgica Gerdau SA, 1.49% 3,600 72,978
 Dragon Capital - Vietnam Enterprise Net Servicos de Comunicacao SA,
 Investments, Ltd.* 458,445 825,201 0.00%* 3,000 38,800
 ------------ Petroleo Brasileiro SA, 1.07% 59,428 1,177,632
 TOTAL VIETNAM 825,201 Tam SA, 0.00%* 1,300 22,208
 ------------ Telecomunicacoes de Sao Paulo
 TOTAL COMMON STOCK SA, 4.46% 900 19,550
 (Cost $322,505,254) 374,920,161 Telemar Norte Leste SA - Class
 ------------ A, 7.43% 1,100 31,206
EXCHANGE-TRADED FUNDS -- 10.8% Tim Participacoes SA, 2.84% 10,000 27,666
 iShares DJ Euro STOXX 50 10,205 404,958 Ultrapar Participacoes SA, 2.73% 2,400 114,673
 iShares MSCI EAFE Index Fund 2,600 145,600 Usinas Siderurgicas de Minas
 iShares MSCI EAFE Small Cap Gerais SA - Class A, 1.26% 3,150 108,457
 Index Fund 184,000 6,881,600 Vivo Participacoes SA, 1.76% 2,200 59,678
 iShares MSCI India Index Fund* 72,800 519,792 ------------
 Market Vectors - Gold Miners ETF 4,804 213,346 TOTAL BRAZIL 8,375,275
 MFS International New Discovery ------------
 Fund 1,001,886 19,386,502 CHILE -- 0.0%
 Vanguard Emerging Markets Fund ETF 36,000 1,518,480 Embotelladora Andina SA - Class
 B, 2.42% 12,700 43,322
 Embotelladora Andina SA, 2.58% 17,190 49,465



 23


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Sociedad Quimica y Minera de MOROCCO -- 0.0%
 Chile SA B, 3.94% 3,000 $ 112,110 Douja Promotion Groupe Addoha SA* 6,000 $ 81,093
 ------------ Lafarge Ciments 110 61,604
 TOTAL CHILE 204,897 ------------
 ------------ TOTAL MOROCCO 142,697
 CROATIA -- 0.0% ------------
 Adris Grupa DD, 2.22% 1,219 66,195 PAKISTAN -- 0.0%
 ------------ Nishat Mills, Ltd. 54,450 10,579
 TOTAL CROATIA 66,195 ------------
 ------------ TOTAL PAKISTAN 10,579
 GERMANY -- 0.2% ------------
 Dyckerhoff AG, 5.13% 356 21,926 POLAND -- 0.0%
 Fresenius SE AG, 1.98% 1,820 137,413 Asseco Poland SA* 6,260 --
 Henkel AG & KGaA-Vorzug, 2.28% 2,512 135,239 ------------
 Jungheinrich AG, 5.91% 4,647 108,395 TOTAL POLAND --
 Porsche Automobil Holding SE AG, ------------
 1.44% 3,509 214,153 TOTAL RIGHTS
 Volkswagen AG, 3.74% 1,743 159,850 (Cost $173,070) 164,053
 ------------ ------------
 TOTAL GERMANY 776,976 CALL WARRANTS -- 1.5%
 ------------ Citigroup Global Markets
 RUSSIA -- 0.1% Holdings, Inc - Gulf Bank
 Sberbank of Russian Federation- Exp.10/06/10* 65,000 82,713
 Class S, 3.02% 91,150 207,073 Citigroup Global Markets
 Transneft, 1.54% 25 29,000 Holdings, Inc - Kuwait
 ------------ Food Co. Exp. 11/16/10* 10,000 55,454
 TOTAL RUSSIA 236,073 Citigroup Global Markets
 ------------ Holdings, Inc - Kuwait
 SOUTH KOREA -- 0.0% Real Estate Co. Exp.
 Hyundai Motor Co., Ltd., 3.04% 1,490 55,244 11/16/10* 120,000 33,272
 Samsung Electronics Co., Ltd., 1.27% 180 85,589 Citigroup Global Markets
 ------------ Holdings, Inc - Mena
 TOTAL SOUTH KOREA 140,833 Holdings Exp. 11/16/10* 35,000 35,178
 ------------ Citigroup Global Markets
 THAILAND -- 0.0% Holdings, Inc - National
 Siam Commercial Bank PCL, 5.25% 16,600 47,359 Real Estate Bank for
 ------------ Development* 40,000 28,558
 TOTAL THAILAND 47,359 Citigroup Global Markets
 ------------ Holdings, Inc. - Boubyan
 TOTAL PREFERRED STOCK Bank K.S.C. Exp. 10/06/10* 20,000 36,010
 (Cost $6,796,342) 9,847,608 Citigroup Global Markets
 ------------ Holdings, Inc. -
RIGHTS -- 0.0% Commercial Bank of Kuwait
 BRAZIL -- 0.0% Exp. 02/25/11* 10,000 32,639
 Braskem SA* 1,360 8 Citigroup Global Markets
 Gol LInhas Aereas Holdings, Inc. - Kuwait
 Inteligentes SA* 29 -- Finance House Exp.
 ------------ 01/14/10* 37,500 145,833
 TOTAL BRAZIL 8 Citigroup Global Markets
 ------------ Holdings, Inc. - Kuwait
 CHILE -- 0.0% Projects Co. Holdings Exp.
 Compania SudAmericana de 01/14/11* 35,000 61,979
 Vapores SA* 17,192 1 Citigroup Global Markets
 ------------ Holdings, Inc. - Mobile
 TOTAL CHILE 1 Telecommunication Co. Exp.
 ------------ 09/21/10* 77,500 365,972
 GERMANY -- 0.0% Citigroup Global Markets
 Volkswagen AG* 2,976 1,849 Holdings, Inc. - National
 ------------ Bank of Kuwait Exp.
 TOTAL GERMANY 1,849 10/15/10* 40,000 163,889
 ------------ Citigroup Global Markets
 GHANA -- 0.0% Holdings, Inc. - National
 Aluworks Ghana, Ltd. 417,600 8,641 Industries Group Holdings
 ------------ Exp. 01/14/10* 135,000 180,469
 TOTAL GHANA 8,641 Citigroup Global Markets
 ------------ Holdings, Inc. - National
 ITALY -- 0.0% Investment Co. Exp.
 UniCredit SPA* 4,794 278 10/06/10* 30,000 44,925
 ------------
 TOTAL ITALY 278
 ------------
 LITHUANIA -- 0.0%
 Bankas Snoras AB 30,780 --
 ------------
 TOTAL LITHUANIA --
 ------------


 24


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Citigroup Global Markets Holdings, Merrill Lynch Int'l. & Co. -
 Inc. - Public Warehousing Co. CW10 Bharat Petroleum
 Exp. 03/17/11* 15,000 $ 30,729 Corp., Ltd., Exp. 09/02/10* 5,100 $ 58,935
 Citigroup Global Markets Holdings, Merrill Lynch Int'l. & Co. -
 Inc. - Sultan Center Food CW10 Crompton Greaves,
 Products Exp. 03/12/11* 60,000 41,666 Ltd., Exp. 07/27/10* 9,625 56,026
 Citigroup Global Markets Holdings, Merrill Lynch Int'l. & Co. -
 Inc.- Al Safwa Group Co. Exp. CW10 HCL Technologies,
 11/16/10* 280,000 54,345 Ltd., Exp. 09/01/10* 8,500 67,955
 Citigroup Global Markets Holdings, Merrill Lynch Int'l. & Co. -
 Inc.- Boubyan Petrochemicals Exp. CW10 HDFC Bank, Ltd. -
 10/06/10* 80,000 153,760 ADR, Exp. 12/30/10* 2,551 110,024
 Citigroup Global Markets Holdings, Merrill Lynch Int'l. & Co. -
 Inc.- Gulf Cable and Electrical CW10 Hindustan Unilever,
 Industries Co.* 12,500 77,115 Ltd., Exp. 12/30/10* 14,000 74,809
 Khon Kaen Sugar Industry PCL Merrill Lynch Int'l. & Co. -
 - CW13 Exp. 3/15/13* 12,710 550 CW10 Infrastructure
 Mediobanca SPA - CW11 Exp. Development Finance Co.,
 03/18/11* 2,495 315 Ltd., Exp. 08/12/10* 25,900 92,987
 Merrill Lynch Int'l & Co. - Merrill Lynch Int'l. & Co. -
 CW15 Axis Bank, Ltd. 144A CW10 Jaiprakash
 Exp. 03/16/15*@ 2,760 71,989 Associates, Ltd., 144A
 Merrill Lynch Int'l & Co. - Exp. 07/01/10*@ 32,100 107,084
 CW10 Burgan Bank, Exp. 12/06/10* 30,000 38,541 Merrill Lynch Int'l. & Co. -
 Merrill Lynch Int'l & Co. - CW10 Nestle India, Ltd.,
 CW12 ABB Ltd. India, 144A Exp. 09/30/10* 1,500 89,358
 Exp. 06/27/12*@ 2,560 47,188 Merrill Lynch Int'l. & Co. -
 Merrill Lynch Int'l & Co. - CW10 Ranbaxy Laboratories,
 CW13 Divi's Labatories, Ltd., 144A Exp. 11/08/10*@ 8,900 94,112
 Ltd., 144A Exp. 05/22/13*@ 80 1,210 Merrill Lynch Int'l. & Co. -
 Merrill Lynch Int'l & Co. - CW10 Suzlon Energy, Ltd.,
 CW14 NTPC, Ltd., 144A Exp. Exp. 09/16/10* 10,500 16,829
 10/06/14*@ 22,673 104,818 Merrill Lynch Int'l. & Co. -
 Merrill Lynch Int'l & Co. - CW10 Tata Power Co., Ltd.,
 CW14 Reliance Industries, Exp. 09/30/10* 4,040 123,791
 Ltd., 144A Exp. 06/23/14*@ 2,886 69,169 Merrill Lynch Int'l. & Co. - CW10
 Merrill Lynch Int'l & Co.- Unitech, Ltd., Exp. 07/12/10* 10,200 16,746
 CW15 Container Corporation Merrill Lynch Int'l. & Co. -
 of India, Ltd. 144A Exp. CW11 Adani Enterprises,
 02/02/15*@ 2,800 81,211 Ltd., 144A Exp. 09/06/11*@ 4,400 46,100
 Merrill Lynch Int'l & Co.- Merrill Lynch Int'l. & Co. -
 CW15 EIH, Ltd. 144A CW11 Bharti Airtel, Ltd.,
 Exp.02/02/15*@ 5,409 14,611 144A Exp. 03/17/11*@ 34,096 237,714
 Merrill Lynch Int'l. & Co. - Merrill Lynch Int'l. & Co. -
 CW10 Aditya Birla Nuvo, CW11 Cairn India, Ltd.,
 Ltd., Exp. 06/28/10* 1,600 32,346 144A Exp. 12/27/11*@ 12,470 85,020
 Merrill Lynch Int'l. & Co. - Merrill Lynch Int'l. & Co. -
 CW10 Ambuja Cements, Ltd., CW11 Cipla, Ltd./India,
 Exp. 06/23/10* 26,400 70,579 144A Exp. 08/16/11*@ 6,800 51,322
 Merrill Lynch Int'l. & Co. - Merrill Lynch Int'l. & Co. -
 CW10 Apollo Hospitals CW11 Dr. Reddy's Laboratories,
 Enterprise, Ltd., Exp. 07/21/10* 224 3,723 Ltd., Exp. 01/03/11* 4,500 127,978
 Merrill Lynch Int'l. & Co. - Merrill Lynch Int'l. & Co. -
 CW10 Asian Paints, Ltd., CW11 Grasim Industries,
 Exp. 08/17/10* 1,300 59,123 Ltd., 144A Exp. 05/02/11*@ 1,400 87,905
 Merrill Lynch Int'l. & Co. - Merrill Lynch Int'l. & Co. -
 CW10 Bharat Heavy CW11 Hero Honda Motors,
 Electricals, Ltd., Exp. 09/01/10* 3,394 180,992 Ltd., 144A Exp. 05/02/11*@ 1,400 60,722
 Merrill Lynch Int'l. & Co. -
 CW11 Housing Development
 Finance Corp., Exp. 01/18/11* 4,560 276,387



 25


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Merrill Lynch Int'l. & Co. - Merrill Lynch Int'l. & Co. -
 CW11 Indian Oil Corp., CW13 Jindal Steel & Power,
 Ltd., 144A Exp. 08/25/11*@ 9,200 $ 60,694 Ltd., 144A Exp. 01/30/13*@ 10,800 $ 169,384
 Merrill Lynch Int'l. & Co. - Merrill Lynch Int'l. & Co. -
 CW11 Mahindra & Mahindra, CW13 Piramal Healthcare,
 Ltd., 144A Exp. 05/03/11*@ 5,900 142,492 Ltd., 144A Exp. 02/05/13*@ 6,060 57,417
 Merrill Lynch Int'l. & Co. - Merrill Lynch Int'l. & Co. -
 CW11 Maruti Suzuki India, CW14 Larsen & Toubro,
 Ltd., Exp. 06/13/11* 3,700 117,029 Ltd., Exp. 06/10/14* 7,200 261,203
 Merrill Lynch Int'l. & Co. - Merrill Lynch Int'l. & Co. -
 CW11 Reliance Capital, CW14 Oil & Natural Gas
 Ltd., 144A Exp. 09/20/11*@ 3,100 52,281 Corp., Ltd., Exp. 02/18/14* 4,257 104,312
 Merrill Lynch Int'l. & Co. - Merrill Lynch Int'l. & Co. -
 CW11 Reliance Communications, CW14 Tata Consultancy
 Ltd., Exp. 01/25/11* 20,229 76,688 Services, Ltd., 144A Exp.
 Merrill Lynch Int'l. & Co. - 08/06/14*@ 5,840 101,715
 CW11 Reliance Natural Merrill Lynch Int'l.& Co. -
 Resources, Ltd., Exp. 01/25/11* 42,400 58,876 CW11 ACC, Ltd., 144A Exp.
 Merrill Lynch Int'l. & Co. - 07/12/11*@ 2,900 61,522
 CW11 Siemens India, Ltd., Merrill Lynch Int'l.& Co. -
 144A Exp. 12/13/11*@ 3,800 62,739 CW14 Sesa Goa, Ltd. Exp.
 Merrill Lynch Int'l. & Co. - 12/04/14* 14,000 147,120
 CW11 Sterlite Industries Merrill Lynch Int'l.& Co. -
 India, Ltd., Exp. 03/24/11* 6,300 119,444 CW14 Steel Authority of
 Merrill Lynch Int'l. & Co. - India, Ltd., 144A Exp.
 CW11 Tata Steel, Ltd., 03/25/14*@ 9,100 51,113
 144A Exp. 10/18/11*@ 10,950 154,382 Merrill Lynch Int'l.& Co. -
 Merrill Lynch Int'l. & Co. - CW15 Sun Pharmaceuticals
 CW11 United Spirits, Ltd., Industries, Ltd. 144A Exp.
 144A Exp. 10/05/11*@ 2,200 64,847 02/02/15*@ 2,400 95,936
 Merrill Lynch Int'l. & Co. - ------------
 CW12 Colgate Palmolive TOTAL CALL WARRANTS
 India, Ltd., 144A Exp. 10/25/12*@ 5,200 78,331 (Cost $6,311,547) 6,722,719
 Merrill Lynch Int'l. & Co. - ------------
 CW12 DLF, Ltd., Exp. 06/21/12* 4,300 29,629 CERTIFICATES -- 0.2%
 Merrill Lynch Int'l. & Co. - SAUDI ARABIA -- 0.2%
 CW12 Essar Oil, Ltd., 144A HSBC Bank PLC - Al Rajhi
 Exp. 07/20/12*@ 21,430 66,063 Bank, Exp. 04/30/12 3,500 79,679
 Merrill Lynch Int'l. & Co. - HSBC Bank PLC - Alinma Bank,
 CW12 Idea Cellular, Ltd., Exp. 06/04/12 10,150 34,846
 144A Exp. 03/05/12*@ 57,200 83,574 HSBC Bank PLC - Almari Co.,
 Merrill Lynch Int'l. & Co. - Ltd., Exp. 03/27/12 800 41,144
 CW12 Kotak Mahindra Bank, HSBC Bank PLC - Arab National
 Ltd., 144A Exp. 04/20/12*@ 4,200 70,092 Bank, Exp. 06/04/12 3,000 36,598
 Merrill Lynch Int'l. & Co. - HSBC Bank PLC - Banque Saudi
 CW12 Mundra Port and Fransi, Exp. 04/30/12 3,300 41,226
 Special Economic Zone, HSBC Bank PLC - Ethad
 Ltd., Exp. 11/23/12* 4,200 73,975 Etisalat Co., Exp. 04/02/12 4,700 63,133
 Merrill Lynch Int'l. & Co. - HSBC Bank PLC - Jarir
 CW12 Power Grid Corp of Marketing Co., Exp. 06/04/12 1,000 38,998
 India, Ltd., Exp. 09/27/12* 24,600 58,797 HSBC Bank PLC - National
 Merrill Lynch Int'l. & Co. - Industrialization Co.,
 CW12 Punj Lloyd, Ltd., Exp. 05/14/12 6,200 50,837
 144A Exp. 06/25/12*@ 4,400 17,412 HSBC Bank PLC - Riyad Bank,
 Merrill Lynch Int'l. & Co. - Exp. 06/11/12 8,600 69,828
 CW13 Indiabulls Securities, Ltd., HSBC Bank PLC - Saudi Arabian
 144A Exp. 01/08/13*@ 4,800 2,977 Fertilizer Co., Exp. 06/04/12 1,100 43,008
 HSBC Bank PLC - Saudi Basic
 Industries Corp., Exp. 03/26/12 3,800 100,948
 HSBC Bank PLC - Saudi
 Electricity Co., Exp. 06/25/12 14,000 46,758



 26


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 PRINCIPAL
 AMOUNT/ MARKET
 SHARES VALUE
 ------ -----
 HSBC Bank PLC - Saudi Ind
 Investment Group., Exp. 06/11/12 5,750 $ 33,540
 HSBC Bank PLC - Saudi Kayan
 Petrochemical Co., Exp. 06/04/12 9,000 46,138
 HSBC Bank PLC - Saudi Telecom
 Co., Exp. 05/21/12 3,600 45,550
 HSBC Bank PLC - Savola, Exp.
 04/20/12 8,300 78,459
 ------------
 TOTAL SAUDI ARABIA 850,690
 ------------
 TOTAL CERTIFICATES
 (Cost $748,961) 850,690
 ------------
CORPORATE BONDS -- 0.0%
 OMAN -- 0.0%
 Bank Muscat SAOG Cv., 7.%,
 04/20/14 $ 1,419 35
 ------------
 TOTAL OMAN 35
 ------------
SHORT TERM INVESTMENTS -- 0.5%
 BlackRock Liquidity Funds
 TempFund Portfolio -
 Institutional Series
 (Cost $2,131,214) 2,131,214 2,131,214
 ------------
TOTAL INVESTMENTS -- 99.2%
 (Cost $383,666,315)+ $442,825,989
OTHER ASSETS IN EXCESS OF LIABILITIES -- 0.8% 3,424,234
 ------------
NET ASSETS -- 100.0% $446,250,223
 ============

* Non-income producing security.

@ Security sold within the terms of a private placement
 memorandum, restricted and/or exempt from registration under
 Rule 144A of the Securities Act of 1933, as amended, and may
 be sold only to dealers in the program or other "accredited
 investors". Unless otherwise indicated security is
 considered liquid.

+ The cost for Federal income tax purposes is $400,649,389. At
 March 31, 2010 net unrealized appreciation was $42,176,600.
 This consisted of aggregate gross unrealized appreciation for
 all securities for which there was an excess of market value
 over tax cost of $66,310,780, and aggregate gross unrealized
 depreciation for all securities for which there was an excess
 of tax cost over market value of $24,134,180.

(1) Illiquid security.

ADR - American Depository Receipt
GDR - Global Depository Receipt
PLC - Public Limited Company



 27


 At March 31, 2010, the Multi Manager International Fund entered into forward foreign currency exchange contracts, which
 contractually obligate the Fund to deliver or receive currencies at specified future dates. The open contracts were as
 follows:

 NET UNREALIZED
 CONTRACT VALUE AT APPRECIATION
 SETTLEMENT DATE CURRENCY BOUGHT AMOUNT MARCH 31, 2010 (DEPRECIATION)
 ----------------------- ------------------------------- ------------ ---------------- -----------------------
 June 2010 376,580 EURO $ 504,600 $ 508,651 $ 4,051
 June 2010 88,778,395 Japanese Yen 984,239 950,021 (34,218)
 -----------------------
 (30,167)
 =======================

 NET UNREALIZED
 CONTRACT VALUE AT APPRECIATION
 SETTLEMENT DATE CURRENCY SOLD AMOUNT MARCH 31, 2010 (DEPRECIATION)
 ----------------------- ------------------------------- ------------ ---------------- -----------------------
 June 2010 6,660,579 Czechoslovakia Koruna $ 355,634 $ 353,840 $ 1,794
 June 2010 2,777,762 EURO 3,788,033 3,751,957 36,076
 June 2010 24,912,295 Japanese Yen 268,428 266,588 1,840
 -----------------------
 39,710
 =======================

 At March 31, 2010, the Multi Manager International Fund had open
 financial futures contracts as follows:

NUMBER OF EXPIRATION Contract VALUE AT UNREALIZED APPRECIATION
CONTRACTS CONTRACTS TO BUY DATE AMOUNT MARCH 31, 2010 (DEPRECIATION)
--------- ----------------------- ------------------------------- ------------ ---------------- -----------------------
 3 DJ EURO STOXX 50 June 2010 $ 114,154 $ 115,522 $ 1,368
 =======================


WILMINGTON FUNDS -- MULTI-MANAGER FUNDS
MULTI-MANAGER INTERNATIONAL FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)

The following table provides a summary of inputs used to value the Fund's net assets as of March 31, 2010:

 LEVEL 2 - LEVEL 3 -
 TOTAL VALUE AT SIGNIFICANT SIGNIFICANT
 MARCH 31, LEVEL 1 - OBSERVABLE UNOBSERVABLE
 2010 QUOTED PRICES INPUTS INPUTS
 --------------------------------------------------------------------
INVESTMENTS IN SECURITIES:
Common Stocks $ 374,920,161 $ 374,758,598 $ 161,563 $ --
Exchange-Traded Funds 48,189,509 48,189,509 -- --
Preferred Stocks 9,847,608 9,847,608 -- --
Rights 164,053 144,833 19,220 --
Call Warrants 6,722,719 699,480 6,023,239 --
Certificates 850,690 850,690 -- --
Corporate Bonds 35 35 -- --
Short Term Investments 2,131,214 2,131,214 -- --
 --------------------------------------------------------------------
Total $ 442,825,989 $ 436,621,967 $ 6,204,022 $ --
 --------------------------------------------------------------------
Other financial instruments* $ 10,911 $ 1,368 $ 9,543 $ --
 --------------------------------------------------------------------

*Other financial instruments are forward foreign currency contracts, swaps, options written, and futures contracts not reflected in
the Schedule of Investments, which are valued at the unrealized appreciation (depreciation) on the investment.

FASB "Derivatives and Hedging" includes required disclosure for (i) the nature and terms of the credit derivative, reasons for
entering into the credit derivative, the events or circumstances that would require the seller to perform under the credit
derivative, and the current status of the payment/performance risk of the credit derivative, (ii) the maximum potential amount of
future payments (undiscounted) the seller could be required to make under the credit derivative, (iii) the fair value of the credit
derivative, and (iv) the nature of any recourse provisions and assets held either as collateral or by third parties. FASB
"Guarantees" requires additional disclosures about the current status of the payment/performance risk of a guarantee. All of this
information has been incorporated for the current period as part of the Notes to the Schedules of Investments.


WILMINGTON FUNDS -- FIXED INCOME FUNDS
MULTI-MANAGER REAL ASSET FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)
 (Showing Percentage of Net Assets)
-----------------------------------------------------------------------------------------------------------------------------------

 PRINCIPAL
 AMOUNT/ MARKET PRINCIPAL
 SHARES VALUE AMOUNT VALUE
 ------ ----- ------ -----
INFLATION-LINKED & FIXED INCOME SECURITIES -- 39.9% U.S. Treasury Inflation
CORPORATE BONDS -- 2.0% Indexed Bonds,
 American International Group, 1.63%, 01/15/18 $1,800,000 $ 1,904,482
 Inc., U.S. Treasury Inflation
 5.85%, 01/16/18 $ 800,000 $ 743,333 Indexed Bonds,
 Countrywide Financial Corp., 2.13%, 01/15/19 1,010,000 1,073,627
 5.80%, 06/07/12 200,000 212,601 U.S. Treasury Inflation
 Dexia Credit Local S.A., 144A@, Indexed Bonds,
 0.65%, 03/05/13 2,700,000 2,702,068 1.38%, 01/15/20 1,500,000 1,473,071
 GMAC, Inc., U.S. Treasury Inflation
 7.25%, 03/02/11 800,000 814,000 Indexed Bonds,
 Merrill Lynch & Co., Inc., 2.38%, 01/15/27 1,900,000 2,127,421
 0.94%, 06/29/12 200,000 259,908 U.S. Treasury Inflation
 Merrill Lynch & Co., Inc., Indexed Bonds,
 1.39%, 09/27/12 700,000 920,525 1.75%, 01/15/28 278,000 272,169
 Royal Bank of Scotland (The), U.S. Treasury Inflation
 4.88%, 03/16/15 300,000 300,252 Indexed Bonds,
 SLM Corp., 2.50%, 01/15/29 148,000 157,872
 3.13%, 09/17/12 400,000 510,549 U.S. Treasury Inflation
 UBS AG, Indexed Bonds,
 1.35%, 02/23/12 600,000 602,854 3.38%, 04/15/32 504,000 746,029
 ------------ U.S. Treasury Inflation
 7,066,090 Indexed Bonds,
 ------------ 2.13%, 02/15/40 300,000 298,118
 TOTAL CORPORATE BONDS U.S. Treasury Inflation
 (Cost $6,913,411) 7,066,090 Indexed Notes,
 ------------ 0.88%, 04/15/10 1,200,000 1,372,725
EXCHANGE-TRADED FUNDS -- 0.4% U.S. Treasury Inflation
 iShares Barclays U.S. Treasury Indexed Notes,
 Inflation 3.00%, 07/15/12 777,000 1,008,572
 Protected Securities Index U.S. Treasury Inflation
 Fund, Indexed Notes,
 (Cost $1,566,459) 15,070 1,565,924 1.88%, 07/15/13 4,078,000 5,089,941
 ------------ U.S. Treasury Inflation
VARIABLE RATE DEMAND NOTES++ -- 0.9% Indexed Notes,
 Metropolitan Life Global 2.00%, 01/15/14 930,000 1,157,889
 Funding I, 144A@, U.S. Treasury Inflation
 2.15%, 06/10/11 $ 1,100,000 1,118,093 Indexed Notes,
 Morgan Stanley, 2.00%, 07/15/14 1,530,000 1,870,878
 2.35%, 05/14/10 1,300,000 1,302,796 U.S. Treasury Inflation
 Swedbank AB, 144A@, Indexed Notes,
 0.70%, 01/14/13 800,000 797,795 1.88%, 07/15/15 4,700,000 5,540,400
 ------------ U.S. Treasury Inflation
 3,218,684 Indexed Notes,
 ------------ 2.50%, 07/15/16 580,000 679,811
 TOTAL VARIABLE RATE DEMAND NOTES U.S. Treasury Inflation
 (Cost $3,196,370) 3,218,684 Indexed Notes,
 ------------ 2.63%, 07/15/17 1,985,000 2,280,663
U.S. GOVERNMENT INFLATION-LINKED SECURITIES -- U.S. Treasury Inflation
 13.0% Indexed Notes,
 U.S. Treasury Inflation Indexed 2.38%, 01/15/25 1,623,000 1,952,826
 Bonds, U.S. Treasury Inflation
 3.38%, 01/15/12 1,062,000 1,386,854 Indexed Notes,
 U.S. Treasury Inflation Indexed 2.00%, 01/15/26 3,026,000 3,285,983
 Bonds, U.S. Treasury Inflation
 2.00%, 04/15/12 542,000 606,102 Indexed Notes,
 U.S. Treasury Inflation Indexed 3.63%, 04/15/28 384,000 627,125
 Bonds, U.S. Treasury Inflation
 0.63%, 04/15/13 576,000 601,782 Indexed Notes,
 U.S. Treasury Inflation Indexed 3.88%, 04/15/29 4,799,000 8,027,671
 Bonds, ------------
 1.25%, 04/15/14 240,000 253,959 TOTAL U.S. GOVERNMENT
 U.S. Treasury Inflation Indexed INFLATION-LINKED SECURITIES
 Bonds, (Cost $43,156,599) 45,659,811
 2.00%, 01/15/16 808,000 935,787 ------------
 U.S. Treasury Inflation Indexed FOREIGN GOVERNMENT INFLATION-LINKED
 Bonds, SECURITIES -- 22.9%
 2.38%, 01/15/17 800,000 928,054 Australia Government Bond,
 4.00%, 08/20/20 600,000 AUD 864,977
 Australia Government Bond,
 3.00%, 09/20/25 4,400,000 AUD 4,169,208
 Brazil Notas do Tesouro Nacional
 Series B,
 6.00%, 05/15/17 3,618,000 BRL 3,813,133
 Brazil Notas do Tesouro Nacional
 Series B,
 6.00%, 05/15/45 1,508,000 BRL 1,573,524
 Brazil Notas do Tesouro Nacional
 Series F,
 10.00%, 01/01/17 5,161,000 BRL 2,607,545
 Bundesobligation Inflation
 Linked,
 2.25%, 04/15/13 500,000 EUR 763,851
 Bundesrepublik Deutschland,
 3.75%, 01/04/15 300,000 EUR 435,154
 Canadian Government Bond,
 4.25%, 12/01/21 900,000 CAD 1,614,974



 1


WILMINGTON FUNDS -- FIXED INCOME FUNDS
MULTI-MANAGER REAL ASSET FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
-----------------------------------------------------------------------------------------------------------------------------------

 PRINCIPAL
 PRINCIPAL AMOUNT/ MARKET
 AMOUNT VALUE SHARES VALUE
 ------ ----- ------ -----
 Canadian Government Bond, U.K. Gilt Inflation Linked,
 3.00%, 12/01/36 500,000 CAD $ 720,967 2.50%, 07/26/16 400,000 GBP $ 1,830,944
 Canadian Government Bond, U.K. Gilt Inflation Linked,
 2.00%, 12/01/41 1,100,000 CAD 1,249,626 1.25%, 11/22/17 2,500,000 GBP 4,517,854
 Deutsche Bundesrepublik U.K. Gilt Inflation Linked,
 Inflation Linked, 2.50%, 04/16/20 450,000 GBP 2,070,909
 1.50%, 04/15/16 400,000 EUR 611,181 U.K. Gilt Inflation Linked,
 France Government Bond OAT, 1.88%, 11/22/22 200,000 GBP 362,364
 3.00%, 07/25/12 400,000 EUR 684,520 U.K. Gilt Inflation Linked,
 France Government Bond OAT, 2.50%, 07/17/24 400,000 GBP 1,630,666
 2.50%, 07/25/13 1,900,000 EUR 3,157,019 U.K. Gilt Inflation Linked,
 France Government Bond OAT, 1.25%, 11/22/27 500,000 GBP 912,263
 1.60%, 07/25/15 200,000 EUR 315,903 U.K. Gilt Inflation Linked,
 France Government Bond OAT, 4.13%, 07/22/30 500,000 GBP 1,953,890
 1.00%, 07/25/17 1,100,000 EUR 1,616,263 U.K. Gilt Inflation Linked,
 France Government Bond OAT, 1.13%, 11/22/37 900,000 GBP 1,624,223
 2.25%, 07/25/20 300,000 EUR 499,066 U.K. Gilt Inflation Linked,
 France Government Bond OAT, 0.75%, 11/22/47 900,000 GBP 1,523,768
 3.40%, 07/25/29 850,000 EUR 1,786,622 ------------
 France Government Bond OAT, TOTAL FOREIGN GOVERNMENT
 3.15%, 07/25/32 400,000 EUR 798,378 INFLATION-LINKED SECURITIES
 France Government Bond OAT, (Cost $73,977,418) 80,874,015
 1.80%, 07/25/40 1,500,000 EUR 2,259,144 ------------
 France Government Bond OAT, ASSET-BACKED SECURITIES -- 0.7%
 1.80%, 07/25/40 300,000 EUR 451,829 Ally Auto Receivables Trust,
 Italy Buoni Poliennali Del 1.32%, 06/15/11 1,500,000 1,505,273
 Tesoro, WaMu Mortgage Pass Through
 2.15%, 09/15/14 400,000 EUR 647,672 Certificates,
 Italy Buoni Poliennali Del 5.60%, 11/25/36 694,339 526,421
 Tesoro, WaMu Mortgage Pass Through
 2.10%, 09/15/17 800,000 EUR 1,212,146 Certificates,
 Italy Buoni Poliennali Del 5.31%, 03/25/37 325,920 279,217
 Tesoro, ------------
 2.35%, 09/15/19 2,300,000 EUR 3,317,884 TOTAL ASSET-BACKED SECURITIES
 Italy Buoni Poliennali Del (Cost $2,215,601) 2,310,911
 Tesoro, ------------
 2.60%, 09/15/23 2,500,000 EUR 3,729,872 TOTAL INFLATION-LINKED & FIXED
 Italy Buoni Poliennali Del INCOME SECURITIES
 Tesoro, (Cost $131,025,858) 140,695,435
 2.35%, 09/15/35 200,000 EUR 311,714 ------------
 Italy Buoni Poliennali Del REAL ESTATE RELATED SECURITIES -- 29.3%
 Tesoro, COMMON STOCK -- 11.5%
 2.55%, 09/15/41 300,000 EUR 422,732 DEPARTMENT STORES -- 0.4%
 Japanese Government CPI Lifestyle International
 Linked Bond, Holdings, Ltd. 694,400 1,253,887
 1.20%, 12/10/17 280,000,000 JPY 2,884,923 ------------
 Japanese Government CPI DIVERSIFIED -- 0.1%
 Linked Bond, Shaftesbury PLC 77,000 449,395
 1.40%, 03/10/18 450,000,000 JPY 4,655,814 ------------
 Mexican Bonos, DIVERSIFIED REAL ESTATE ACTIVITIES -- 6.3%
 8.50%, 12/13/18 15,154,200 MXN 1,301,076 CapitaLand, Ltd. 649,950 1,844,456
 Mexican Udibonos, City Developments, Ltd. 179,000 1,356,303
 3.50%, 12/14/17 6,680,500 MXN 2,443,614 Daito Trust Construction Co.,
 Network Rail Infrastructure Ltd. 4,801 231,602
 Finance PLC, Daiwa House Industry Co., Ltd. 132,500 1,495,213
 1.38%, 11/22/37 320,000 GBP 577,127 Great Eagle Holdings, Ltd. 46,100 129,437
 New South Wales Treasury Corp., Hang Lung Group, Ltd. 88,900 471,736
 3.75%, 11/20/20 800,000 GBP 774,385 Hang Lung Properties, Ltd. 491,000 1,979,367
 Poland Government Bond, Henderson Land Development Co.,
 3.00%, 08/24/16 1,825,000 PLN 730,146 Ltd. 79,900 562,904
 South Africa Government Bond, Kerry Properties, Ltd. 408,200 2,189,720
 2.60%, 03/31/28 5,860,000 ZAR 876,294 Lend Lease Corp., Ltd.* 46,300 367,939
 Sweden Government Bond, Mitsubishi Estate Co., Ltd. 173,120 2,833,176
 3.50%, 12/01/15 10,500,000 SEK 1,972,586 Mitsui Fudosan Co., Ltd. 189,989 3,225,078
 Sweden Government Bond, Sumitomo Realty & Development
 4.00%, 12/01/20 9,800,000 SEK 2,121,008 Co., Ltd. 65,400 1,244,482
 Sweden Government Bond, Sun Hung Kai Properties, Ltd. 243,000 3,655,524
 3.50%, 12/01/28 2,000,000 SEK 435,341
 Turkey Government Bond,
 9.00%, 05/21/14 1,300,000 TRL 1,125,156
 U.K. Gilt Inflation Linked,
 2.50%, 08/16/13 1,200,000 GBP 4,914,760



 2


WILMINGTON FUNDS -- FIXED INCOME FUNDS
MULTI-MANAGER REAL ASSET FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Wharf Holdings, Ltd. 118,200 $ 666,033 Vornado Realty Trust 45,673 $ 3,457,446
 ------------ ------------
 22,252,970 11,342,111
 ------------ ------------
 HOTELS, RESORTS & CRUISE LINES -- 0.8% DIVERSIFIED REAL ESTATE ACTIVITIES -- 0.1%
 Hyatt Hotels Corp. - Class A* 9,800 381,808 Beni Stabili SpA 20,350 19,707
 Shangri-La Asia, Ltd. 490,000 961,793 Lend Lease Group* 15,750 125,163
 Sol Melia, SA 135,000 1,161,498 Tokyo Tatemono Co., Ltd. 19,900 71,520
 Starwood Hotels & Resorts ------------
 Worldwide, Inc. 8,700 405,768 216,390
 ------------ ------------
 2,910,867 INDUSTRIAL -- 1.1%
 ------------ AMB Property Corp. 45,600 1,242,144
 INDUSTRIAL -- 0.1% Ascendas Real Estate Investment
 Segro PLC 46,712 226,549 Trust 321,600 441,382
 ------------ Goodman Group 1,627,519 978,238
 OFFICE -- 0.2% Japan Logistics Fund, Inc. 30 240,347
 CapitaCommercial Trust 225,000 173,702 ProLogis 74,700 986,040
 ING Office Fund 962,200 516,533 ------------
 ------------ 3,888,151
 690,235 ------------
 ------------ OFFICE -- 2.7%
 REAL ESTATE DEVELOPMENT -- 1.3% Alexandria Real Estate Equities,
 Cheung Kong Holdings, Ltd. 131,310 1,691,213 Inc. 6,600 446,160
 China Overseas Land & Boston Properties, Inc. 27,900 2,104,776
 Investment, Ltd. 634,000 1,432,252 Derwent London PLC 84,458 1,750,730
 Guangzhou R&F Properties Co., Digital Realty Trust, Inc. 18,400 997,280
 Ltd. 325,000 532,440 Douglas Emmett, Inc. 51,000 783,870
 Helical Bar PLC 23,040 118,140 Duke Realty Corp. 31,000 384,400
 Shimao Property Holdings, Ltd. 171,300 315,055 Great Portland Estates PLC 149,700 714,220
 Wing Tai Holdings, Ltd. 475,000 614,568 Highwoods Properties, Inc. 36,300 1,151,799
 ------------ Japan Real Estate Investment Corp. 41 349,524
 4,703,668 Orix Jreit, Inc. 48 217,435
 ------------ SL Green Realty Corp. 10,000 572,700
 REAL ESTATE OPERATING COMPANIES -- 2.3% Societe Immobiliere de Location Pour
 Aeon Mall Co., Ltd. 55,000 1,159,536 l'Industrie et le Commerce 1,820 229,817
 Atrium European Real Estate, ------------
 Ltd. 17,209 109,477 9,702,711
 Atrium European Real Estate, ------------
 Ltd. 46,537 297,935 RESIDENTIAL -- 1.6%
 BR Malls Participacoes SA* 12,000 141,704 American Campus Communities, Inc. 21,400 591,924
 Brookfield Properties Corp. 24,300 373,248 Apartment Investment & Management
 Castellum AB 27,100 273,042 Co. - Class A 18,400 338,744
 Central Pattana PCL - NVDR 1,150,000 736,199 AvalonBay Communities, Inc. 9,429 814,194
 Grainger PLC 93,830 192,222 BRE Properties, Inc. 9,100 325,325
 Hongkong Land Holdings, Ltd. 389,100 1,972,737 Camden Property Trust 8,900 370,507
 Hufvudstaden AB - Class A 33,330 285,036 Equity Residential 28,000 1,096,200
 Hysan Development Co., Ltd. 472,613 1,366,540 Essex Property Trust, Inc. 13,700 1,232,315
 Norwegian Property ASA* 276,630 577,166 Nippon Accommodations Fund, Inc. 25 128,624
 Safestore Holdings PLC 127,300 278,175 UDR, Inc. 34,419 607,151
 Swiss Prime Site AG* 6,380 399,053 ------------
 ------------ 5,504,984
 8,162,070 ------------
 ------------ RETAIL -- 6.1%
 TOTAL COMMON STOCK Acadia Realty Trust 9,931 177,368
 (Cost $33,977,333) 40,649,641 Calloway Real Estate Investment
 ------------ Trust 10,900 227,627
REAL ESTATE INVESTMENT TRUSTS -- 17.5% CapitaMall Trust 126,242 159,726
 DIVERSIFIED -- 3.2% CFS Retail Property Trust 95,685 164,635
 British Land Co. PLC 129,031 942,014 Corio NV 13,582 906,867
 Canadian Real Estate Investment Developers Diversified Realty Corp. 26,900 327,373
 Trust 4,388 119,459 Eurocommercial Properties NV 10,000 401,821
 Dexus Property Group 917,814 682,208 Federal Realty Investment Trust 24,500 1,783,845
 General Property Trust 1,056,482 557,451 Frasers Centrepoint Trust 135,000 129,311
 ICADE 5,000 556,539 Frontier Real Estate Investment
 Kenedix Realty Investment Corp. 40 107,434 Corp. 34 264,028
 Land Securities Group PLC 172,034 1,769,994
 Liberty Property Trust 24,400 828,136
 Mirvac Group 292,575 396,010
 Stockland Corp., Ltd. 467,714 1,712,499
 United Urban Investment Corp. 37 212,921



 3


WILMINGTON FUNDS -- FIXED INCOME FUNDS
MULTI-MANAGER REAL ASSET FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 PRINCIPAL
 AMOUNT/ MARKET
 SHARES VALUE SHARES VALUE
 ------ ----- ------ -----
 Hammerson PLC 38,369 $ 229,057 PIMCO Commodity RealReturn
 Immobiliare Grande Strategy Fund - Institutional
 Distribuzione 257,000 520,331 Shares 2,265,295 $ 17,714,608
 Japan Retail Fund Investment ------------
 Corp. 156 183,549 TOTAL INVESTMENT COMPANIES
 Klepierre 39,320 1,544,377 (Cost $33,700,349) 35,517,133
 Mercialys SA 12,426 446,435 ------------
 Primaris Retail Real Estate TOTAL COMMODITY RELATED
 Investment Trust(1) 8,300 137,291 SECURITIES
 Regency Centers Corp. 12,900 483,363 (Cost $69,756,521) 74,581,518
 RioCan Real Estate Investment ------------
 Trust 23,500 427,588 SHORT-TERM INVESTMENTS -- 12.1%
 Simon Property Group, Inc. 49,337 4,139,374 CERTIFICATES OF DEPOSIT -- 0.4%
 Suntec Real Estate Investment Rabobank Nederland,
 Trust 172,500 165,231 0.39%, 09/08/10 1,500,000 1,500,198
 Tanger Factory Outlet Centers, ------------
 Inc. 21,800 940,888 COMMERCIAL PAPER -- 3.4%
 Taubman Centers, Inc. 19,100 762,472 General Electric Capital
 The Link Real Estate Investment Corp.,
 Trust 183,000 451,121 0.29%, 07/28/10 1,500,000 1,498,517
 The Macerich Co. 33,384 1,278,941 Honeywell International,
 Unibail- Rodamco SE 17,463 3,537,981 Inc.,
 Westfield Group 156,985 1,737,331 0.51%, 12/29/10 1,500,000 1,495,450
 ------------ IRDB,
 21,527,931 0.18%, 07/06/10 1,500,000 1,499,321
 ------------ JPMorgan Chase & Co.,
 SPECIALIZED -- 2.7% 0.25%, 07/26/10 1,500,000 1,498,552
 Extra Space Storage, Inc. 9,300 117,924 MetLife, Inc.,
 Health Care Property Investors, 0.22%, 04/28/10 1,500,000 1,499,805
 Inc. 35,800 1,181,400 Philip Morris,
 Hospitality Properties Trust 20,500 490,975 0.30%, 08/11/10 1,500,000 1,498,265
 Host Hotels & Resorts, Inc. 167,371 2,451,985 Straight-A Funding LLC,
 Nationwide Health Properties, 0.15%, 04/01/10 1,500,000 1,500,000
 Inc. 38,800 1,363,820 Svenska,
 Pebblebrook Hotel Trust* 2,800 58,884 0.20%, 05/28/10 1,500,000 1,499,464
 Public Storage 20,700 1,904,193 ------------
 Ventas, Inc. 39,800 1,889,704 11,989,374
 ------------ ------------
 9,458,885 MONEY MARKET FUND -- 3.5%
 ------------ BlackRock Liquidity Funds
 TOTAL REAL ESTATE INVESTMENT TempFund
 TRUSTS Portfolio - Institutional
 (Cost $47,264,441) 61,641,163 Series 12,210,668 12,210,668
 ------------ ------------
EXCHANGE-TRADED FUNDS -- 0.3% REPURCHASE AGREEMENT -- 0.8%
 SPDR Dow Jones REIT ETF With Barclays Capital, Inc. at
 (Cost $878,812) 17,000 913,920 0.01%, dated 3/31/10, to be
 ------------ purchased 4/1/10, repurchase
 TOTAL REAL ESTATE RELATED price $2,900,000
 SECURITIES collateralized by U.S.
 (Cost $82,120,586) 103,204,724 Treasury Bills, par value
 ------------ $2,959,000, 0.13%,
COMMODITY RELATED SECURITIES -- 21.2% 5/20/10, market
STRUCTURED NOTE -- 4.0% value $2,900,000 2,900,000 2,900,000
 Deutsche Bank AG, London ------------
 Branch, U.S. AGENCY OBLIGATIONS -- 4.0%
 Structured Note Linked to the FHLMC,
 DB Liquidity Commodity Index 0.25%, 10/26/10 7,500,000 7,487,865
 (Cost $15,000,000) $15,000,000 14,080,500 FNMA,
 ------------ 0.26%, 11/01/10 6,560,000 6,548,304
EXCHANGE-TRADED FUNDS -- 7.1% ------------
 PowerShares DB Commodity Index 14,036,169
 Tracking Fund* ------------
 (Cost $21,056,172) 1,062,240 24,983,885 TOTAL SHORT-TERM INVESTMENTS
 ------------ (Cost $42,638,787) 42,636,409
INVESTMENT COMPANIES -- 10.1% ------------
 Credit Suisse Commodity Return TOTAL INVESTMENTS, BEFORE OPTIONS
 Strategy Fund 2,176,348 17,802,525 WRITTEN -- 102.5%
 (Cost $325,541,752) $361,118,086
 ------------
 OPTIONS WRITTEN -- 0.0%
 U.S. 10YR Futures Expires 4/19/10
 at 3.25% (520) (46)



 4


WILMINGTON FUNDS -- FIXED INCOME FUNDS
MULTI-MANAGER REAL ASSET FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED) -- CONTINUED
------------------------------------------------------------------------------------------------------------------------------------

 U.S. 10YR Futures Expires 4/19/10 + The cost for Federal income tax purposes is $350,532,064. At
 at 3.25% (240) $ (21) March 31, 2010 net unrealized appreciation was $10,586,022.
 U.S. 10YR Futures Expires 4/19/10 This consisted of aggregate gross unrealized appreciation
 at 4.25% (240) (648) for all securities for which there was an excess of market
 U.S. 10YR Futures Expires 4/19/10 value over tax cost of $33,364,523, and aggregate gross
 at 5.00% (520) -- unrealized depreciation for all securities for which there
 U.S. 10YR Futures Expires 4/23/10 was an excess of tax cost over market value of $22,778,501.
 Strike Price $114 (29) (3,625) (1) Foreign-denominated security; Canadian
 U.S. 10YR Futures Expires 4/23/10 PLC - Public Limited Company
 Strike Price $119 (7) (328) AUD - Australian Dollar
 U.S. 10YR Futures Expires 5/21/10 BRL - Brazilian Dollar
 Strike Price $114 (32) (11,000) CAD - Canadian Dollar
 U.S. 10YR Futures Expires 5/21/10 EUR - Euro
 Strike Price $115 (7) (4,047) GBP - United Kingdom Pound
 U.S. 10YR Futures Expires 5/21/10 JPY - Japanese Yen
 Strike Price $119 (39) (6,703) MXN - Mexican Peso
 U.S. 10YR Futures Expires 6/14/10 PLN - Polish Zloty
 at 3.50% (120) (3,445) SEK - Swedish Krona
 U.S. 10YR Futures Expires 6/14/10 TRL - Turkish Lira
 at 4.50% (120) (2,420) ZAR - South African Rand
 U.S. 10YR Futures Expires 7/10/12
 at 10.00% (30) (119)
 U.S. 10YR Futures Expires 7/12/12
 at 10.00% (40) (159)
 U.S. 5YR Futures Expires 12/1/10
 at 4.00% (530) (31,534)
 U.S. 5YR Futures Expires 6/15/10
 at 5.00% (100) (1)
 U.S. 7YR Futures Expires 8/31/10
 at 6.00% (420) (106)
 ------------
 TOTAL OPTIONS WRITTEN
 (Cost $(257,389)) (64,202)
 ------------
TOTAL INVESTMENTS, NET OF OPTIONS
 WRITTEN -- 102.5%
 (Cost $325,284,363)+ $361,053,884
 ------------
LIABILITIES IN EXCESS OF OTHER
ASSETS -- (2.5)% (8,655,651)
 ------------
NET ASSETS -- 100.0% $352,398,233
 ============

@ Security sold within the terms of a private placement
 memorandum, restricted and/or exempt from registration under
 Rule 144A of the Securities Act of 1933, as amended, and may
 be sold only to dealers in the program or other "accredited
 investors". Unless otherwise indicated security is
 considered liquid.
++ Denotes a Variable or Floating Rate Note. Variable or
 Floating Rate Notes are instruments whose rates change
 periodically. The rates shown are the interest rates as of
 March 31, 2010.
* Non-income producing security.



 5


At March 31, 2010, the Multi Manager Real Asset Fund entered into forward foreign currency exchange contracts, which contractually obligate the Fund to deliver or receive currencies at specified future dates. The open contracts were as follows:

 NET
 VALUE AT UNREALIZED
 SETTLEMENT CONTRACT MARCH 31, APPRECIATION
 DATE CURRENCY BOUGHT AMOUNT 2010 (DEPRECIATION)
-------------- ------------------------------ ----------- ----------- --------------
April 2010 909,450 Brazilian Dollar $ 500,000 $ 510,872 $ 10,872
April 2010 13,893,419 Brazilian Dollar 7,818,469 7,804,452 (14,017)
April 2010 84,211 Canadian Dollar 79,658 82,913 3,255
April 2010 84,211 Canadian Dollar 361,852 361,794 (58)
April 2010 909,651 EURO 1,249,905 1,228,650 (21,255)
April 2010 145,000 EURO 198,300 195,850 (2,450)
April 2010 47,000 EURO 64,588 63,482 (1,106)
April 2010 1,007,000 EURO 1,371,558 1,360,144 (11,414)
April 2010 1,890,000 EURO 2,512,243 2,552,804 40,561
April 2010 1,022,000 EURO 1,368,369 1,380,405 12,036
April 2010 722,642 United Kingdom Pound 1,095,643 1,095,643 --
April 2010 495,916 United Kingdom Pound 752,458 752,455 (3)
April 2010 77,171,177 Japanese Yen 851,677 825,544 (26,133)
April 2010 745,067 Mexican Peso 59,677 60,131 454
April 2010 739,343 Mexican Peso 56,433 59,669 3,236
April 2010 24,000,468 Mexican Peso 1,871,064 1,936,986 65,922
April 2010 1,311,300 Mexican Peso 100,000 105,830 5,830
April 2010 33,879,279 Mexican Peso 2,671,867 2,734,267 62,400
April 2010 3,725,335 Mexican Peso 288,743 300,657 11,914
April 2010 1,878,857 Swedish Krona 264,990 260,220 (4,770)
June 2010 6,077,700 Chinese Yuan 900,000 890,537 (9,463)
June 2010 366,873 Singapore Dollar 260,000 262,148 2,148
June 2010 176,782 Singapore Dollar 124,284 126,319 2,035
June 2010 710,465 Singapore Dollar 500,000 507,661 7,661
July 2010 15,939,058 Korean Won 13,510 14,023 513
July 2010 26,498,000 Korean Won 22,406 23,313 907
July 2010 118,700,000 Korean Won 100,000 104,434 4,434
July 2010 15,952,770 Korean Won 13,368 14,035 667
July 2010 16,000,000 Korean Won 13,502 14,077 575
July 2010 120,280,000 Korean Won 100,000 105,824 5,824
August 2010 63,427,000 Korean Won 53,875 55,740 1,865
September 2010 745,067 Mexican Peso 58,843 59,041 198
November 2010 15,952,172 Korean Won 13,352 13,663 311
November 2010 132,503,500 Korean Won 112,220 116,110 3,890
November 2010 58,130,000 Korean Won 50,000 50,938 938
November 2010 58,095,000 Korean Won 50,000 50,907 907
November 2010 23,356,000 Korean Won 20,000 20,466 466
November 2010 58,380,000 Korean Won 50,000 51,157 1,157
November 2010 35,190,000 Korean Won 30,000 30,836 836
November 2010 58,462,500 Korean Won 50,000 51,229 1,229
November 2010 58,492,500 Korean Won 50,000 51,256 1,256
November 2010 57,735,000 Korean Won 50,000 50,592 592
November 2010 23,180,000 Korean Won 20,000 20,312 312
November 2010 103,117,500 Korean Won 90,000 90,359 359
November 2010 113,350,000 Korean Won 100,000 99,326 (674)


November 2010 28,524,000 Korean Won 24,363 24,995 632
November 2010 115,110,000 Korean Won 100,000 100,868 868
January 2011 929,740 Chinese Yuan 140,000 137,114 (2,886)
January 2011 863,265 Chinese Yuan 130,000 127,311 (2,689)
January 2011 597,420 Chinese Yuan 90,000 88,105 (1,895)
 --------------
 $ 158,247
 ==============

 NET
 VALUE AT UNREALIZED
 SETTLEMENT CONTRACT MARCH 31, APPRECIATION
 DATE CURRENCY SOLD AMOUNT 2010 (DEPRECIATION)
-------------- ------------------------------ ----------- ----------- --------------
April 2010 490,000 Australian Dollar $ 446,736 $ 449,600 $ (2,864)
April 2010 3,853,000 Australian Dollar 3,415,396 3,535,322 (119,926)
April 2010 951,482 Australian Dollar 862,124 871,142 (9,018)
April 2010 4,343,000 Australian Dollar 3,947,787 3,972,414 (24,627)
April 2010 14,802,869 Brazilian Real 8,452,986 8,315,324 137,662
April 2010 2,246,000 Canadian Dollar 2,154,023 2,211,385 (57,362)
April 2010 1,830,567 Canadian Dollar 1,782,044 1,802,342 (20,298)
April 2010 7,091,474 EURO 9,665,530 9,578,335 87,195
April 2010 100,000 EURO 137,605 135,069 2,536
April 2010 687,000 EURO 934,009 927,924 6,085
April 2010 197,000 EURO 267,152 266,086 1,066
April 2010 361,000 EURO 495,076 487,599 7,477
April 2010 164,000 EURO 222,337 221,513 824
April 2010 14,692,000 EURO 20,007,345 19,844,333 163,012
April 2010 268,209,000 Japanese Yen 2,962,899 2,869,155 93,744
April 2010 9,039,000 Japanese Yen 97,467 96,694 773
April 2010 9,008,500 Japanese Yen 100,000 96,368 3,632
April 2010 513,086,284 Japanese Yen 5,681,987 5,488,780 193,207
April 2010 6,374,746 United Kingdom Pound 9,607,323 9,672,423 (65,100)
April 2010 126,746 United Kingdom Pound 200,000 192,311 7,689
April 2010 7,271,000 United Kingdom Pound 10,975,467 11,031,777 (56,310)
April 2010 14,866,084 Swedish Krona 2,062,300 2,031,234 31,066
April 2010 20,716,000 Swedish Krona 2,910,039 2,869,271 40,768
April 2010 33,879,279 Mexican Peso 2,624,469 2,684,668 (60,199)
April 2010 34,650,210 Mexican Peso 2,596,688 2,796,485 (199,797)
April 2010 3,435,661 Mexican Peso 252,353 277,279 (24,926)
April 2010 745,067 Mexican Peso 59,893 60,132 (239)
April 2010 5,228,202 Mexican Peso 400,000 421,948 (21,948)
April 2010 20,341,651 Mexican Peso 1,586,158 1,641,697 (55,539)
June 2010 13,893,419 Brazilian Real 7,724,145 7,706,236 17,909
June 2010 607,860 Chinese Yuan 90,000 89,067 933
June 2010 945,980 Chinese Yuan 140,000 138,610 1,390
June 2010 878,410 Chinese Yuan 130,000 128,709 1,291
June 2010 1,357,400 Chinese Yuan 200,000 198,894 1,106
June 2010 279,860 Singapore Dollar 200,000 199,973 27
June 2010 282,849 Singapore Dollar 200,000 202,109 (2,109)
June 2010 1,069,000 United Kingdom Pound 1,582,890 1,621,355 (38,465)
June 2010 809,000 United Kingdom Pound 1,217,822 1,227,013 (9,191)
July 2010 1,653,754 Turkish Lira 1,062,005 1,067,269 (5,264)
July 2010 6,901,479 South African Rand 875,267 927,683 (52,416)
August 2010 1,872,388 Polish Zloty 642,880 648,562 (5,682)
November 2010 227,900,000 Korean Won 200,000 199,702 298


November 2010 348,900,000 Korean Won 300,000 305,733 (5,733)
 --------------
 $ (37,323)
 ==============

At March 31, 2010, the Multi Manager Real Asset Fund had open financial futures contracts as follows:

 UNREALIZED
NUMBER OF UNDERLYING EXPIRATION CONTRACT VALUE AT APPRECIATION
CONTRACTS CONTRACTS TO BUY DATE AMOUNT MARCH 31, 2010 (DEPRECIATION)
--------- -------------------- -------------- ---------- -------------- --------------
 24 90DAY EURO DOLLAR June 2011 $5,900,100 $ 5,906,700 $ 6,600
 24 90DAY EURO DOLLAR September 2010 5,961,913 5,967,900 5,987
 4 AUSTRALIAN 10Y BOND June 2010 2,654,851 2,660,782 5,931
 12 FIN FUT UK 90DAY LIF December 2010 2,248,703 2,250,979 2,276
 16 FIN FUT EURO-BOBL 5Y June 2010 2,522,937 2,530,160 7,223
 17 EURO-BUND FUTURE June 2010 2,816,189 2,832,262 16,073
 25 FIN FUT EURIBOR December 2010 8,336,091 8,350,020 13,929
 30 FIN FUT EURIBOR June 2010 9,988,350 10,059,530 71,180
 --------------
 $ 129,199
 ==============

At March 31, 2010, the Multi-Manager Real Asset Fund had open interest rate swap contracts as follows:

 UNREALIZED
 TERMINATION NOTIONAL FIXED FLOATING APPRECIATION
COUNTERPARTY DATE AMOUNT RATE RATE (DEPRECIATION)
------------ ----------- --------- ------- -------------------------------- --------------
Barclays Bank PLC* 1/2/2013 1,000,000 12.285% Brazilian interbank lending rate $ 1,948
Deutsche Bank AG* 6/16/2015 1,400,000 3.00% 6 MONTH LIBOR 42,799
 -------
 $44,747
 =======

* Portfolio pays the floating rate and receives the fixed rate.

At March 31, 2010, the Multi-Manager Real Asset Fund had credit default swap contracts as follows:

 UNREALIZED
 TERMINATION NOTIONAL FIXED REFERENCE ENTITY/ APPRECIATION
COUNTERPARTY DATE AMOUNT RATE OBLIGATION (DEPRECIATION)
------------ ----------- --------- ----- ------------------------------- --------------
Bank of America NA** 3/20/2011 400,000 1.00% General Electric Capital Corp.,
 5.625%, due 09/15/17 $2,755
Deutsche Bank AG** 3/20/2015 1,000,000 1.00% United Kingdom of Great Britain 18
 ------
 $2,773
 ======

** If the Portfolio is a seller of protection, it receives the fixed rate. When a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

At March 31, 2010, the Multi-Manager Real Asset Fund had total return swap contracts as follows:

 UNREALIZED
 TERMINATION NOTIONAL APPRECIATION
COUNTERPARTY DATE AMOUNT DESCRIPTION (DEPRECIATION)
------------ ----------- --------- ---------------------------------------------------------- --------------
BNP Paribas SA 4/15/2010 1,200,000 Receive variable payments on the three month LIBOR
 and pay variable payments based on the TSY Inflation Index $(147,961)
 =========


WILMINGTON FUNDS -- FIXED INCOME FUNDS
MULTI-MANAGER REAL ASSET FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)

The following table provides a summary of inputs used to value the Fund's net assets as of March 31, 2010:

 LEVEL 2 - LEVEL 3 -
 TOTAL VALUE AT SIGNIFICANT SIGNIFICANT
 MARCH 31, LEVEL 1 - OBSERVABLE UNOBSERVABLE
 2010 QUOTED PRICES INPUTS INPUTS
 -------------------------------------------------------------
INVESTMENTS IN SECURITIES:
INFLATION-LINKED & FIXED INCOME SECURITIES:
 Corporate Bonds $ 7,066,090 $ -- $ 7,066,090 $ --
 Exchange-traded Funds 1,565,924 1,565,924 -- --
 Variable Rate Demand Notes 3,218,684 -- 3,218,684 --
 U.S. Government Inflation-linked Securities 45,659,811 -- 45,659,811 --
 Foreign Government Inflation-linked Securities 80,874,015 -- 80,874,015 --
 Asset-backed Securities 2,310,911 -- 2,310,911 --
REAL ESTATE RELATED SECURITIES:
 Common Stocks 40,649,641 40,649,641 -- --
 Real Estate Investment Trusts 61,641,163 61,641,163 -- --
 Exchange-Traded Funds 913,920 913,920 -- --
COMMODITY RELATED SECURITIES:
 Structured Note 14,080,500 14,080,500 --
 Exchange-Traded Funds 24,983,885 24,983,885 -- --
 Investment Companies 35,517,133 35,517,133 -- --
 Short-Term Investments 42,636,409 12,210,669 30,425,740 --
 -------------------------------------------------------------
Total $ 361,118,086 $ 191,562,835 $ 169,555,251 $ --
 -------------------------------------------------------------
 Other financial instruments* $ 85,480 $ 129,199 $ (43,719) $ --
 -------------------------------------------------------------

*Other financial instruments are forward foreign currency contracts, swaps, options written, and futures contracts not reflected
in the Schedule of Investments, which are valued at the unrealized appreciation (depreciation) on the investment.

FASB "Derivatives and Hedging" includes required disclosure for (i) the nature and terms of the credit derivative, reasons for
entering into the credit derivative, the events or circumstances that would require the seller to perform under the credit
derivative, and the current status or the payment/performance risk of the credit derivative, (ii) the maximum potential amount of
future payments (undiscounted) the seller could be required to make under the credit derivative, (iii) the fair value of the credit
derivative, and (iv) the nature of any recourse provisions and assets held either as collateral or by third parties. FASB
"Guarantees" requires additional disclosures about the current status of the payment/performance risk of a guarantee. All of this
information has been incorporated for the current period as part of the Notes to the Schedules of Investments.


WILMINGTON FUNDS -- ASSET ALLOCATION FUNDS
AGGRESSIVE ASSET ALLOCATION FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)
 (Showing Percentage of Net Assets)
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE
 ------ -----
AFFILIATED INVESTMENT COMPANIES++ -- 84.8%
 Wilmington Multi-Manager
 International Fund 3,707,655 $ 25,212,054
 Wilmington Multi-Manager Large-Cap
 Fund 1,612,178 17,363,155
 Wilmington Multi-Manager Real Asset
 Fund 507,757 6,473,904
 Wilmington Small-Cap Strategy Fund 651,816 5,722,946
 ------------
 TOTAL AFFILIATED INVESTMENT COMPANIES
 (Cost $48,697,299) 54,772,059
 ------------
NON-AFFILIATED INVESTMENT COMPANIES -- 15.0%
 PIMCO High Yield Fund -
 Institutional Class 354,539 3,212,119
 PowerShares DB Commodity
 Index Tracking Fund+ 138,000 3,245,760
 Vanguard High-Yield Corporate
 Fund - Admiral Shares 577,695 3,211,986
 ------------
 TOTAL NON-AFFILIATED INVESTMENT
 COMPANIES
 (Cost $9,234,754) 9,669,865
 ------------
TOTAL INVESTMENTS -- 99.8%
 (Cost $57,932,053)+ $ 64,441,924
OTHER ASSETS IN EXCESS OF LIABILITIES --
0.2% 105,088
 ------------
NET ASSETS -- 100.0% $ 64,547,012
 ============

++ The Fund invests in the Institutional Shares of the
 Affiliated Investment Companies.
+ The cost for Federal income tax purposes is $68,606,140. At
 March 31, 2010 net unrealized depreciation was $4,164,216. This
 consisted of aggregate gross unrealized appreciation for all
 securities for which there was an excess of market value over
 tax cost of $0 and aggregate gross unrealized depreciation for
 all securities for which there was an excess of tax cost over
 market value of $4,164,216.


WILMINGTON FUNDS -- ASSET ALLOCATION FUNDS
AGGRESSIVE ASSET ALLOCATION FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)

The following table provides a summary of inputs used to value the Fund's net assets as of March 31, 2010:

 LEVEL 2 - LEVEL 3 -
 TOTAL VALUE AT SIGNIFICANT SIGNIFICANT
 MARCH 31, LEVEL 1 - OBSERVABLE UNOBSERVABLE
 2010 QUOTED PRICES INPUTS INPUTS
 --------------------------------------------------------------------
INVESTMENTS IN SECURITIES:
Affiliated Investment Companies $ 54,772,059 $ 54,772,059 $ -- $ --
Non-Affiliated Investment Companies 9,669,865 9,669,865 -- --
 --------------------------------------------------------------------
Total $ 64,441,924 $ 64,441,924 $ -- $ --
 --------------------------------------------------------------------


WILMINGTON FUNDS -- ASSET ALLOCATION FUNDS
CONSERVATIVE ASSET ALLOCATION FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)
 (Showing Percentage of Net Assets)
------------------------------------------------------------------------------------------------------------------------------------

 SHARES VALUE
 ------ -----
AFFILIATED INVESTMENT COMPANIES++ -- 74.0%
 Wilmington Multi-Manager
 International Fund 480,737 $ 3,269,008
 Wilmington Multi-Manager Large-
 Cap Fund 723,097 7,787,758
 Wilmington Multi-Manager Real
 Asset Fund 204,773 2,610,858
 Wilmington Prime Money Market
 Fund 158,053 158,053
 Wilmington Short/Intermediate-
 Term Bond Fund 3,084,547 32,727,038
 Wilmington Small-Cap Strategy
 Fund 217,986 1,913,918
 ------------
 TOTAL AFFILIATED INVESTMENT COMPANIES
 (Cost $45,036,023) 48,466,633
 ------------
NON-AFFILIATED INVESTMENT COMPANIES -- 26.0%
 iShares Barclays U.S. Treasury
 Inflation Protected Securities
 Index Fund 50,600 5,257,846
 iShares MSCI EAFE Growth Index
 Fund 23,600 1,336,704
 iShares MSCI EAFE Value Index
 Fund 77,600 3,930,440
 PIMCO High Yield Fund -
 Institutional Class 359,723 3,259,092
 Vanguard High-Yield Corporate
 Fund - Admiral Shares 585,850 3,257,328
 ------------
 TOTAL NON-AFFILIATED INVESTMENT
 COMPANIES
 (Cost $16,518,338) 17,041,410
 ------------
TOTAL INVESTMENTS -- 100.0%
 (Cost $61,554,361)+ $ 65,508,043
LIABILITIES IN EXCESS OF OTHER ASSETS --
0% (4,697)
 ------------
NET ASSETS -- 100.0% $ 65,503,346
 ------------
++ The Fund invests in the Institutional Shares of the
 Affiliated Investment Companies.
+ The cost for Federal income tax purposes is $62,660,926. At
 March 31, 2010, net unrealized appreciation was $2,847,117.
 This consisted of aggregate gross unrealized appreciation for
 all securities for which there was an excess of market value
 over tax cost of $2,884,922 and aggregate gross unrealized
 depreciation for all securities for which there was an excess
 of tax cost over market value of $37,805.


WILMINGTON FUNDS -- ASSET ALLOCATION FUNDS
CONSERVATIVE ASSET ALLOCATION FUND
 INVESTMENTS / MARCH 31, 2010 (UNAUDITED)

The following table provides a summary of inputs used to value the Fund's net assets as of March 31, 2010:

 LEVEL 2 - LEVEL 3 -
 TOTAL VALUE AT SIGNIFICANT SIGNIFICANT
 MARCH 31, LEVEL 1 - OBSERVABLE UNOBSERVABLE
 2010 QUOTED PRICES INPUTS INPUTS
 --------------------------------------------------------------------
INVESTMENTS IN SECURITIES:
Affiliated Investment Companies $ 48,466,633 $ 48,466,633 $ -- $ --
Non-Affiliated Investment Companies 17,041,410 17,041,410 -- --
 --------------------------------------------------------------------
Total $ 65,508,043 $ 65,508,043 $ -- $ --
 --------------------------------------------------------------------


ITEM 2. CONTROLS AND PROCEDURES.

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

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

ITEM 3. EXHIBITS.

Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.


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) WT Mutual Fund
 --------------------------------------------------------------------

By (Signature and Title)* /s/ John J. Kelley
 -------------------------------------------------------
 John J. Kelley, President & Chief Executive Officer
 (principal executive officer)

Date May 28, 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 (Signature and Title)* /s/ John J. Kelley
 -------------------------------------------------------
 John J. Kelley, President & Chief Executive Officer
 (principal executive officer)

Date May 28, 2010
 ----------------------------------------------------------------------------


By (Signature and Title)* /s/ John C. McDonnell
 -------------------------------------------------------
 John C. McDonnell, Vice President & Chief Financial
 Officer
 (principal financial officer)

Date May 28, 2010
 ----------------------------------------------------------------------------

* Print the name and title of each signing officer under his or her signature.

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