UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES

Investment Company Act file number           811-22255                                    

EGA Emerging Global Shares Trust
(Exact name of registrant as specified in charter)
 
171 East Ridgewood Avenue
Ridgewood, NJ 07450
(Address of principal executive offices) (Zip code)
 
Robert C. Holderith
171 East Ridgewood Avenue
Ridgewood, NJ 07450
(Name and address of agent for service)
 

Registrant's telephone number, including area code: 1-201-389-6872          

Date of fiscal year end: March 31

Date of reporting period: September 30, 2012

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR 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 Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 
   

Item 1. Reports to Stockholders.


EGA Emerging Global Shares Trust

Semi-Annual Report
September 30, 2012

EGShares Basic Materials GEMS ETF

EGShares Beyond BRICs ETF

EGShares Brazil Infrastructure ETF

EGShares China Infrastructure ETF

EGShares Consumer Goods GEMS ETF

EGShares Consumer Services GEMS ETF

EGShares Emerging Markets Consumer ETF

EGShares Emerging Markets Domestic Demand ETF

EGShares Emerging Markets Metals & Mining ETF

EGShares Energy GEMS ETF

EGShares Financials GEMS ETF

EGShares GEMS Composite ETF

EGShares Health Care GEMS ETF

EGShares India Consumer ETF

EGShares India Infrastructure ETF

EGShares India Small Cap ETF

EGShares Industrials GEMS ETF

EGShares Low Volatility Emerging Markets Dividend ETF

EGShares Technology GEMS ETF

EGShares Telecom GEMS ETF

EGShares Utilities GEMS ETF

 
 

Table of Contents

Shareholder Letter 1
Comments from the Chief Investment Officer & Director of Research 2
Portfolio Summaries 3
Shareholder Expense Examples 24
Frequency Distribution of Premium and Discount 27
Schedules of Investments 31
EGShares Basic Materials GEMS ETF (consolidated) 31
EGShares Beyond BRICs ETF 32
EGShares Brazil Infrastructure ETF 33
EGShares China Infrastructure ETF 34
EGShares Consumer Goods GEMS ETF (consolidated) 35
EGShares Consumer Services GEMS ETF 36
EGShares Emerging Markets Consumer ETF (consolidated) 37
EGShares Emerging Markets Domestic Demand ETF (consolidated) 38
EGShares Emerging Markets Metals & Mining ETF (consolidated) 39
EGShares Energy GEMS ETF (consolidated) 40
EGShares Financials GEMS ETF (consolidated) 41
EGShares GEMS Composite ETF (consolidated) 42
EGShares Health Care GEMS ETF (consolidated) 44
EGShares India Consumer ETF (consolidated) 45
EGShares India Infrastructure ETF (consolidated) 46
EGShares India Small Cap ETF (consolidated) 47
EGShares Industrials GEMS ETF (consolidated) 49
EGShares Low Volatility Emerging Markets Dividend ETF (consolidated) 50
EGShares Technology GEMS ETF (consolidated) 51
EGShares Telecom GEMS ETF (consolidated) 52
EGShares Utilities GEMS ETF (consolidated) 53
Statements of Assets and Liabilities 54
Statements of Operations 58
Statements of Changes in Net Assets 62
Financial Highlights 68
Notes to Financial Statements 79
Board Review and Approval of Advisory Contracts 94
Board of Trustees and Officers 96
General Information 98

 

 
 

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Letter to Shareholders

November 2012

Dear Shareholder:

As there are now over 130 emerging market equity ETFs (exchange-traded funds), investors have the benefit — and the burden — of choice as to how to obtain optimum emerging market (EM) exposure. Investors have the tools available to invest within, not merely to emerging markets, through multiple options for core, geographic, sector, theme and other types of exposure. Through our EGShares family of ETFs, we have emerged as a leading emerging market asset manager, driving us to adopt a powerful new tagline for the company during the quarter: “The Tools for Emerging Markets.”

EGA’s commitment to product leadership was demonstrated by the two funds we launched during the third quarter. The EGShares Beyond BRICs ETF (BBRC) and the EGShares Emerging Markets Domestic Demand ETF (EMDD) were launched in late August. Both funds provide exposure to what EGA believes will be the countries (BBRC) or sectors (EMDD) that may be best positioned for future growth in the coming years. These were the 20 th and 21 st funds in our ETF portfolio.

From a broader point of view, we are beginning to realize what we have always referred to as “normalization” for investors in emerging markets. Normalization refers to the ability of EM investors to implement investment strategies that are similar to strategies they use in developed markets investing. We see this as a very important step in EM investing becoming a mainstream or core exposure for all investors.

I appreciate your continued support of our firm and its products.

Sincerely,


Robert C. Holderith
Chairman of the Board, EGA Emerging Global Shares Trust
President & Founder, Emerging Global Advisors, LLC

Robert C. Holderith is a registered representative of ALPS Distributors Inc.

EGA Emerging Global Shares Trust 1

 
 

Comments from the Chief Investment Officer & Director of Research

Dear Shareholder:

Roughly one year ago, I wrote the previous version of this semi-annual letter and commented extensively on the uncertainties confronting Europe. It is difficult to gauge if the situation is significantly different today than it was then. Certain manufacturing and consumption numbers have improved, but not dramatically. The recent U.S. earnings season, punctuated by disappointment from names like Apple, was poor overall and ended the short bull run in virtually all risk asset classes that began in early June.

An observation: The world stock market bottom was in March of 2009. Since then, major indices representing U.S., emerging market and global stocks show that markets have not been able to sustain a bull run for more than four consecutive quarters. In between these runs, the pullbacks were short but severe. Corrections were usually within a three-month period, with losses from 10% to 30% depending on the index (S&P 500 Index, MSCI World Index). The fact that higher-risk asset classes such as stocks and commodities have largely moved in tandem demonstrates the powerful impact that shifting investor risk tolerance has had on markets globally. This indiscriminate environment continues to be challenging for those focused on securities selection, lending itself more to broad asset allocation decisions.

Over the six-month period ending September 30 th , expected market volatility (as measured by the VIX Index*) has been relatively low, although still higher than before the 2008 financial crisis. Despite this positive indicator, the high level of cash among institutional investors suggests that many are not fully committed to riskier investment positions. Yet with explicit comments from policymakers signaling that accommodative policy — and therefore low interest rates — will be around for at least two more years, the foundation is in place for a sustained bull market in risk assets.

This may be beneficial for investors, but what the global economy needs is for measures such as quantitative easing to spark investment. Not only is there little investment in the Western world where central banks are still, after many years, trying to engineer a financial revival, but their actions may ignite a new currency war. By deploying their domestic or other developed market currencies to chase higher-yielding currencies/rates in the emerging markets, investors are exporting inflation and potentially limiting growth in the regions of the world that have, up to now, sustained enviable levels of growth.

Within this environment, Emerging Global Advisors has remained an innovator in the ETF industry. The EGShares Beyond BRICs ETF (BBRC) and EGShares Emerging Markets Domestic Demand ETF (EMDD) were launched in late August. These funds are designed to help investors gain exposure to what EGA believes will be the countries (BBRC) or sectors (EMDD) that may be best positioned for future growth in coming years. Consistent with our strategic approach, both funds use investible indices to capture their desired market exposure, rather than rely on broad benchmarks that reflect developed country and industry biases.

Lastly, this letter is written while much of the U.S. Northeast is without power. We thank those who have sent their warm wishes to us and we share the concern for our neighbors during this disaster. As Chief Investment Officer trained in risk management, I wish to ensure you that the viability of Emerging Global Advisors LLC and the funds we manage remains unchanged due to this unprecedented weather event. Backups for our operating locations and technology have been in place since the firm’s inception in anticipation of this kind of situation. We care about the integrity of our funds and the processes that govern them and wish to share this assurance with you, our shareholders.


Richard Kang
Chief Investment Officer & Director of Research
October 2012

Richard Kang is a registered representative of ALPS Distributors, Inc.

 
* VIX or The Chicago Board Options Exchange Volatility Index is an index that measures the implied volatility based on the value of S&P 500 Index (a benchmark for large cap US stocks) option contracts. The VIX is often called the “fear gauge” since with significant market declines, investors pay more for portfolio insurance in the form of equity index options causing the price of VIX to rise.

This manager commentary represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. This information should not be relied upon by the reader as research or investment advice.

The S&P 500 Index is a broad-based measure of domestic stock market performance. One cannot invest directly in an index.

MSCI World Index is an index that is designed to measure the equity market performance in global emerging markets. MSCI makes no express or implied warranties or representations and shall have no liability whatsoever with respect to any MSCI data contained herein. The MSCI data may not be further redistributed or used to create indices or financial products. This report is not approved or produced by MSCI.

2 EGA Emerging Global Shares Trust

 
 

Portfolio Summary (Unaudited)

EGShares Basic Materials GEMS ETF

Industry Breakdown*


Top Ten Holdings*

Vale SA Preference A Shares ADR 9.3%
AngloGold Ashanti, Ltd. ADR 6.6
China Shenhua Energy Co., Ltd. Class H 6.6
MMC Norilsk Nickel OJSC ADR 5.6
Uralkali OJSC GDR 5.5
Impala Platinum Holdings, Ltd. 4.9
Grupo Mexico SAB de CV Series B 4.7
Gold Fields, Ltd. ADR 4.7
Gerdau SA Preference Shares ADR 4.6
KGHM Polska Miedz SA 4.1

 

 
* Expressed as a percentage of total investments in securities as of 9/30/2012. Holdings are subject to change.

EGShares Basic Materials GEMS ETF (ticker: LGEM)

The Fund’s investment objective is to seek investment results that correspond (before fees and expenses) to the price and yield performance of the Dow Jones Emerging Markets Basic Materials Titans 30 Index SM (“Basic Materials Underlying Index”). The Basic Materials Underlying Index is comprised of publicly traded firms in the “Basic Materials Industry,” as defined by the Industry Classification Benchmark (“ICB”).

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. This Fund will concentrate its investments in issuers of one or more particular industries to the same extent that its underlying index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from investing more than 25% of the Fund’s assets in issuers conducting business in the same industry.


EGA Emerging Global Shares Trust 3

 
 

Portfolio Summary (Unaudited)

EGShares Beyond BRICs ETF

Industry Breakdown*


Top Ten Holdings*

MTN Group, Ltd. 4.9%
Fomento Economico Mexicano SAB de CV ADR 4.8
Grupo Modelo SAB de CV Series C 4.6
America Movil SAB de CV Series L ADR 4.6
Grupo Mexico SAB de CV Series B 4.3
Sasol, Ltd. 4.2
Naspers, Ltd. N Shares 3.9
FirstRand, Ltd. 3.0
Astra International Tbk PT 2.9
PTT PCL 2.9

 

 
* Expressed as a percentage of total investments in securities as of 9/30/2012. Holdings are subject to change.

EGShares Beyond BRICs ETF (ticker: BBRC)

The Fund’s investment objective is to seek investment results that correspond (before fees and expenses) to the price and yield performance of the INDXX Beyond BRICs Index (“Underlying Index”). The Underlying Index is comprised of 50 leading companies that INDXX, LLC determines to be representative of all industries in emerging market countries, excluding Brazil, Russia, India and China.

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. This Fund will concentrate its investments in issuers of one or more particular industries to the same extent that its underlying index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from investing more than 25% of the Fund’s assets in issuers conducting business in the same industry.


4 EGA Emerging Global Shares Trust

 
 

Portfolio Summary (Unaudited)

EGShares Brazil Infrastructure ETF

Industry Breakdown*


Top Ten Holdings*

CCR SA 5.9%
BR Malls Participacoes SA 5.6
Companhia Siderurgica Nacional SA 5.4
Ultrapar Participacoes SA 5.1
Vale SA 5.1
Companhia de Saneamento Basico do  
  Estado de Sao Paulo 5.0
Embraer SA 5.0
Oi SA Preference Shares 4.8
Tractebel Energia SA 4.6
Telefonica Brasil SA 4.5

 

 
* Expressed as a percentage of total investments in securities as of 9/30/2012. Holdings are subject to change.

EGShares Brazil Infrastructure ETF (ticker: BRXX)

The Fund’s investment objective is to seek investment results that correspond (before fees and expenses) to the price and yield performance of the INDXX Brazil Infrastructure Index (“Underlying Index”). The Underlying Index is comprised of 30 leading companies that INDXX, LLC determines to be representative of Brazil’s infrastructure sectors.

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. This Fund will concentrate its investments in issuers of one or more particular industries to the same extent that its underlying index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from investing more than 25% of the Fund’s assets in issuers conducting business in the same industry. Because the Fund only invests in Brazilian securities, its NAV will be much more sensitive to changes in economic, political and other factors within Brazil than would a fund that invested in a greater variety of countries. Special risks include, among others, political and legal uncertainty, persistent religious, ethnic and border disputes, greater government control over the economy, currency fluctuations or blockage and the risk of nationalization or expropriation of assets.


EGA Emerging Global Shares Trust 5

 
 

Portfolio Summary (Unaudited)

EGShares China Infrastructure ETF

Industry Breakdown*


Top Ten Holdings*

Anhui Conch Cement Co., Ltd. Class H 6.0%
China Oilfield Services, Ltd. Class H 5.5
China Telecom Corp., Ltd. Class H 5.3
Huaneng Power International, Inc. Class H 5.2
Jiangxi Copper Co., Ltd. Class H 5.1
China Railway Construction Corp., Ltd. Class H 5.1
China Railway Group, Ltd. Class H 5.1
China Unicom Hong Kong, Ltd. 4.8
Aluminum Corp. of China, Ltd. Class H 4.6
Changsha Zoomlion Heavy Industry Science And  
  Technology Development Co., Ltd. Class H 4.6

 

 
* Expressed as a percentage of total investments in securities as of 9/30/2012. Holdings are subject to change.

EGShares China Infrastructure ETF (ticker: CHXX)

The Fund’s investment objective is to seek investment results that correspond (before fees and expenses) to the price and yield performance of the INDXX China Infrastructure Index (“Underlying Index”). The Underlying Index is comprised of 30 leading companies that INDXX, LLC determines to be representative of China’s infrastructure sectors.

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. This Fund will concentrate its investments in issuers of one or more particular industries to the same extent that its underlying index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from investing more than 25% of the Fund’s assets in issuers conducting business in the same industry. Because the Fund only invests in Chinese securities, its NAV will be much more sensitive to changes in economic, political and other factors within China than would a fund that invested in a greater variety of countries. Special risks include, among others, political and legal uncertainty, persistent religious, ethnic and border disputes, greater government control over the economy, currency fluctuations or blockage and the risk of nationalization or expropriation of assets.


6 EGA Emerging Global Shares Trust

 
 

Portfolio Summary (Unaudited)

EGShares Consumer Goods GEMS ETF

Industry Breakdown*


Top Ten Holdings*

Companhia de Bebidas das Americas Preference  
  Shares ADR 9.9%
Fomento Economico Mexicano SAB de CV ADR 7.4
Astra International Tbk PT 6.7
BRF - Brasil Foods SA ADR 5.5
Hindustan Unilever, Ltd. 5.4
ITC, Ltd. 5.1
Tiger Brands, Ltd. 3.9
Grupo Bimbo SAB de CV Series A 3.8
Grupo Modelo SAB de CV Series C 3.6
Arca Continental SAB de CV 3.6

 

 
* Expressed as a percentage of total investments in securities as of 9/30/2012. Holdings are subject to change.

EGShares Consumer Goods GEMS ETF (ticker: GGEM)

The Fund’s investment objective is to seek investment results that correspond (before fees and expenses) to the price and yield performance of the Dow Jones Emerging Markets Consumer Goods Titans 30 Index SM (“Consumer Goods Underlying Index”). The Consumer Goods Underlying Index is comprised of publicly traded firms in the “Consumer Goods Industry,” as defined by the Industry Classification Benchmark (“ICB”).

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. This Fund will concentrate its investments in issuers of one or more particular industries to the same extent that its underlying index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from investing more than 25% of the Fund’s assets in issuers conducting business in the same industry.


EGA Emerging Global Shares Trust 7

 
 

Portfolio Summary (Unaudited)

EGShares Consumer Services GEMS ETF

Industry Breakdown*


Top Ten Holdings*

Naspers, Ltd. N Shares 10.3%
Wal-Mart de Mexico SAB de CV Series V 7.4
Magnit OJSC GDR 6.0
Lan Airlines SA ADR 5.6
S.A.C.I. Falabella 5.0
Shoprite Holdings, Ltd. 4.4
Steinhoff International Holdings, Ltd. 4.2
Grupo Televisa SAB ADR 4.1
Truworths International, Ltd. 4.0
Companhia Brasileira de Distribuicao Grupo Pao de  
  Acucar Preference Shares ADR 4.0

 

 
* Expressed as a percentage of total investments in securities as of 9/30/2012. Holdings are subject to change.

EGShares Consumer Services GEMS ETF (ticker: VGEM)

The Fund’s investment objective is to seek investment results that correspond (before fees and expenses) to the price and yield performance of the Dow Jones Emerging Markets Consumer Services Titans 30 Index SM (“Consumer Services Underlying Index”). The Consumer Services Underlying Index is comprised of publicly traded firms in the “Consumer Services Industry,” as defined by the Industry Classification Benchmark (“ICB”).

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. This Fund will concentrate its investments in issuers of one or more particular industries to the same extent that its underlying index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from investing more than 25% of the Fund’s assets in issuers conducting business in the same industry.


8 EGA Emerging Global Shares Trust

 
 

Portfolio Summary (Unaudited)

EGShares Emerging Markets Consumer ETF

Industry Breakdown*


Top Ten Holdings*

Companhia de Bebidas das Americas Preference  
  Shares ADR 9.9%
Naspers, Ltd. N Shares 9.0
Fomento Economico Mexicano SAB de CV
  Series UB
6.3
Wal-Mart de Mexico SAB de CV Series V 5.9
Astra International TBK PT 5.9
BRF - Brasil Foods SA ADR 4.4
ITC, Ltd. 4.2
Hindustan Unilever, Ltd. 4.2
Magnit OJSC GDR 3.9
S.A.C.I. Falabella 3.7

 

 
* Expressed as a percentage of total investments in securities as of 9/30/2012. Holdings are subject to change.

EGShares Emerging Markets Consumer ETF (ticker: ECON)

The Fund’s investment objective is to seek investment results that correspond (before fees and expenses) to the price and yield performance of the Dow Jones Emerging Markets Consumer Titans 30 Index SM (“Consumer Underlying Index”). The Consumer Underlying Index is comprised of 30 publicly traded firms in the “Consumer Goods Industry” and “Consumer Services Industry,” as defined by the Industry Classification Benchmark (“ICB”).

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. This Fund will concentrate its investments in issuers of one or more particular industries to the same extent that its underlying index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from investing more than 25% of the Fund’s assets in issuers conducting business in the same industry.


EGA Emerging Global Shares Trust 9

 
 

Portfolio Summary (Unaudited)

EGShares Emerging Markets Domestic Demand ETF

Industry Breakdown*


Top Ten Holdings*

ITC, Ltd. 5.3%
China Telecom Corp., Ltd. Class H 5.2
Fomento Economico Mexicano SAB de CV ADR 4.9
MTN Group, Ltd. 4.9
Grupo Modelo SAB de CV Series C 4.8
Companhia de Bebidas das Americas Preference  
  Shares ADR 4.7
America Movil SAB de CV Series L ADR 4.6
Naspers, Ltd. N Shares 4.2
Astra International Tbk PT 3.3
Wal-Mart de Mexico SAB de CV Series V 3.3

 

 
* Expressed as a percentage of total investments in securities as of 9/30/2012. Holdings are subject to change.

EGShares Emerging Markets Domestic Demand ETF (ticker: EMDD)

The Fund’s investment objective is to seek investment results that correspond (before fees and expenses) to the price and yield performance of the INDXX Emerging Markets Domestic Demand Index (“Underlying Index”). The Underlying Index is comprised of 50 emerging markets companies in sectors INDXX, LLC determines may have greater exposure to local markets than the MSCI Emerging Markets Index SM .

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. This Fund will concentrate its investments in issuers of one or more particular industries to the same extent that its underlying index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from investing more than 25% of the Fund’s assets in issuers conducting business in the same industry.


10 EGA Emerging Global Shares Trust

 
 

Portfolio Summary (Unaudited)

EGShares Emerging Markets Metals & Mining ETF

Industry Breakdown*


Top Ten Holdings*

Vale SA ADR 9.3%
AngloGold Ashanti, Ltd. 6.9
China Shenhua Energy Co., Ltd. Class H 6.5
MMC Norilsk Nickel OJSC ADR 6.0
Gold Fields, Ltd. 5.4
Impala Platinum Holdings, Ltd. 5.2
Gerdau SA Preference Shares ADR 4.7
Grupo Mexico SAB de CV Series B 4.6
KGHM Polska Miedz SA 4.4
Industrias Penoles SAB de CV 4.1

 

 
* Expressed as a percentage of total investments in securities as of 9/30/2012. Holdings are subject to change.

EGShares Emerging Markets Metals & Mining ETF (ticker: EMT)

The Fund’s investment objective is to seek investment results that correspond (before fees and expenses) to the price and yield performance of the Dow Jones Emerging Markets Metals & Mining Titans 30 Index SM (“Metals & Mining Underlying Index”). The Metals & Mining Underlying Index is comprised of 30 publicly traded firms in the “Industrial Metals and Mining Sector” and “Mining Sector,” as defined by the Industry Classification Benchmark (“ICB”).

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. This Fund will concentrate its investments in issuers of one or more particular industries to the same extent that its underlying index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from investing more than 25% of the Fund’s assets in issuers conducting business in the same industry.


EGA Emerging Global Shares Trust 11

 
 

Portfolio Summary (Unaudited)

EGShares Energy GEMS ETF

Industry Breakdown*


Top Ten Holdings*

Gazprom OAO ADR 9.4%
Petroleo Brasileiro SA ADR 7.4
CNOOC, Ltd. 7.1
LUKOIL OAO ADR 6.7
PetroChina Co., Ltd. Class H 6.3
Reliance Industries, Ltd. GDR 144A 6.2
China Petroleum & Chemical Corp. Class H 4.5
Sasol, Ltd. 4.5
NovaTek OAO ADR 4.4
Ecopetrol SA ADR 4.3

 

 
* Expressed as a percentage of total investments in securities as of 9/30/2012. Holdings are subject to change.

EGShares Energy GEMS ETF (ticker: OGEM)

The Fund’s investment objective is to seek investment results that correspond (before fees and expenses) to the price and yield performance of the Dow Jones Emerging Markets Oil and Gas Titans 30 Index SM (“Oil and Gas Underlying Index”). The Oil and Gas Underlying Index is comprised of publicly traded firms in the “Oil and Gas Industry,” as defined by the Industry Classification Benchmark (“ICB”).

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. This Fund will concentrate its investments in issuers of one or more particular industries to the same extent that its underlying index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from investing more than 25% of the Fund’s assets in issuers conducting business in the same industry.


12 EGA Emerging Global Shares Trust

 
 

Portfolio Summary (Unaudited)

EGShares Financials GEMS ETF

Industry Breakdown*


Top Ten Holdings*

China Construction Bank Corp. Class H 10.3%
Industrial and Commercial Bank of China, Ltd.
  Class H
9.2
Itau Unibanco Holding SA Preference Shares ADR 6.8
Banco Bradesco SA Preference Shares ADR 6.3
Sberbank of Russia ADR 5.5
Bank of China, Ltd. Class H 5.5
Housing Development Finance Corp., Ltd. 4.9
China Life Insurance Co., Ltd. Class H 4.3
Standard Bank Group, Ltd. 3.6
HDFC Bank, Ltd. ADR 3.3

 

 
* Expressed as a percentage of total investments in securities as of 9/30/2012. Holdings are subject to change.

EGShares Financials GEMS ETF (ticker: FGEM)

The Fund’s investment objective is to seek investment results that correspond (before fees and expenses) to the price and yield performance of the Dow Jones Emerging Markets Financials Titans 30 Index SM (“Financials Underlying Index”). The Financials Underlying Index is comprised of publicly traded firms in the “Financials Industry,” as defined by the Industry Classification Benchmark (“ICB”).

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. This Fund will concentrate its investments in issuers of one or more particular industries to the same extent that its underlying index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from investing more than 25% of the Fund’s assets in issuers conducting business in the same industry.


EGA Emerging Global Shares Trust 13

 
 

Portfolio Summary (Unaudited)

EGShares GEMS Composite ETF

Industry Breakdown*


Top Ten Holdings*

America Movil SAB de CV Series L 5.0%
Gazprom OAO ADR 4.7
China Mobile, Ltd. 4.3
China Construction Bank Corp. Class H 4.3
Industrial and Commercial Bank of China, Ltd.
  Class H
3.7
Petroleo Brasileiro SA ADR 2.9
Itau Unibanco Holding SA Preference Shares ADR 2.6
CNOOC, Ltd. 2.5
Baidu, Inc. ADR 2.4
LUKOIL OAO ADR 2.4

 

 
* Expressed as a percentage of total investments in securities as of 9/30/2012. Holdings are subject to change.

EGShares GEMS Composite ETF (ticker: AGEM)

The Fund’s investment objective is to seek investment results that correspond (before fees and expenses) to the price and yield performance of the Dow Jones Emerging Markets Sector Titans Composite 100 Index SM (“Sector Underlying Index”). The Sector Underlying Index is comprised of a representative sample of 100 Emerging Markets companies deemed to be the 10 leading companies in each of the 10 “Industries,” as defined by the Industry Classification Benchmark (“ICB”).

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. This Fund will concentrate its investments in issuers of one or more particular industries to the same extent that its underlying index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from investing more than 25% of the Fund’s assets in issuers conducting business in the same industry.


14 EGA Emerging Global Shares Trust

 
 

Portfolio Summary (Unaudited)

EGShares Health Care GEMS ETF

Industry Breakdown*


Top Ten Holdings*

Aspen Pharmacare Holdings, Ltd. 10.0%
Sun Pharmaceutical Industries, Ltd. 8.7
Life Healthcare Group Holdings, Ltd. 7.1
Mindray Medical International, Ltd. ADR 5.4
Dr. Reddy's Laboratories, Ltd. ADR 4.9
Cipla, Ltd. 4.8
Shandong Weigao Group Medical Polymer Co., Ltd.  
  Class H 4.8
Netcare, Ltd. 4.8
Sinopharm Group Co. Class H 4.5
Richter Gedeon Nyrt. 4.4

 

 
* Expressed as a percentage of total investments in securities as of 9/30/2012. Holdings are subject to change.

EGShares Health Care GEMS ETF (ticker: HGEM)

The Fund’s investment objective is to seek investment results that correspond (before fees and expenses) to the price and yield performance of the Dow Jones Emerging Markets Health Care Titans 30 Index SM (“Health Care Underlying Index”). The Health Care Underlying Index is comprised of publicly traded firms in the “Health Care Industry,” as defined by the Industry Classification Benchmark (“ICB”).

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. This Fund will concentrate its investments in issuers of one or more particular industries to the same extent that its underlying index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from investing more than 25% of the Fund’s assets in issuers conducting business in the same industry.


EGA Emerging Global Shares Trust 15

 
 

Portfolio Summary (Unaudited)

EGShares India Consumer ETF

Industry Breakdown*


Top Ten Holdings*

United Spirits, Ltd. 7.9%
Hindustan Unilever, Ltd. 5.8
United Breweries, Ltd. 5.8
Godrej Consumer Products, Ltd. 5.6
ITC, Ltd. 5.4
Mahindra & Mahindra, Ltd. 4.9
GlaxoSmithKline Consumer Healthcare, Ltd. 4.7
Zee Entertainment Enterprises, Ltd. 4.7
Titan Industries, Ltd. 4.7
Tata Global Beverages, Ltd. 4.6

 

 
* Expressed as a percentage of total investments in securities as of 9/30/2012. Holdings are subject to change.

EGShares India Consumer ETF (ticker: INCO)

The Fund’s investment objective is to seek investment results that correspond (before fees and expenses) to the price and yield performance of the INDXX India Consumer Index (“Consumer Underlying Index”). The Underlying Index is comprised of 30 leading companies that INDXX, LLC determines to be representative of India’s consumer sector.

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. This Fund will concentrate its investments in issuers of one or more particular industries to the same extent that its underlying index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from investing more than 25% of the Fund’s assets in issuers conducting business in the same industry. Small cap and mid cap companies generally will have greater volatility in price than the stocks of large companies due to limited product lines or resources or a dependency upon a particular market niche. Because the Fund only invests in Indian securities, its NAV will be much more sensitive to changes in economic, political and other factors within India than would a fund that invested in a greater variety of countries. Special risks include, among others, political and legal uncertainty, persistent religious, ethnic and border disputes, greater government control over the economy, currency fluctuations or blockage and the risk of nationalization or expropriation of assets.


16 EGA Emerging Global Shares Trust

 
 

Portfolio Summary (Unaudited)

EGShares India Infrastructure ETF

Industry Breakdown*


Top Ten Holdings*

ACC, Ltd. 5.2%
Ambuja Cements, Ltd. 5.1
Bharat Heavy Electricals, Ltd. 5.0
Tata Power Co., Ltd. 5.0
GAIL India, Ltd. 5.0
Larsen & Toubro, Ltd. 4.9
Jindal Steel & Power, Ltd. 4.8
Jaiprakash Associates, Ltd. 4.8
NTPC, Ltd. 4.7
Tata Motors, Ltd. 4.7

 

 
* Expressed as a percentage of total investments in securities as of 9/30/2012. Holdings are subject to change.

EGShares India Infrastructure ETF (ticker: INXX)

The Fund’s investment objective is to seek investment results that correspond (before fees and expenses) to the price and yield performance of the INDXX India Infrastructure Index (“Underlying Index”). The Underlying Index is comprised of 30 leading companies that INDXX, LLC determines to be representative of India’s infrastructure sectors.

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. This Fund will concentrate its investments in issuers of one or more particular industries to the same extent that its underlying index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from investing more than 25% of the Fund’s assets in issuers conducting business in the same industry. Because the Fund only invests in Indian securities, its NAV will be much more sensitive to changes in economic, political and other factors within India than would a fund that invested in a greater variety of countries. Special risks include, among others, political and legal uncertainty, persistent religious, ethnic and border disputes, greater government control over the economy, currency fluctuations or blockage and the risk of nationalization or expropriation of assets.


EGA Emerging Global Shares Trust 17

 
 

Portfolio Summary (Unaudited)

EGShares India Small Cap ETF

Industry Breakdown*


Top Ten Holdings*

Federal Bank, Ltd. 4.5%
Apollo Hospitals Enterprise, Ltd. 4.2
Glenmark Pharmaceuticals, Ltd. 3.5
Tata Global Beverages, Ltd. 3.5
Crompton Greaves, Ltd. 2.9
Indiabulls Financial Services, Ltd. 2.7
United Phosphorus, Ltd. 2.6
Bharat Forge, Ltd. 2.5
Jubilant Foodworks, Ltd. 2.4
Tech Mahindra, Ltd. 2.3

 

 
* Expressed as a percentage of total investments in securities as of 9/30/2012. Holdings are subject to change.

EGShares India Small Cap ETF (ticker: SCIN)

The Fund’s investment objective is to seek investment results that correspond (before fees and expenses) to the price and yield performance of the INDXX India Small Cap Index (“Underlying Index”). The Underlying Index is comprised of 30 leading companies that INDXX, LLC determines to be representative of small market cap companies in India.

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. This Fund will concentrate its investments in issuers of one or more particular industries to the same extent that its underlying index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from investing more than 25% of the Fund’s assets in issuers conducting business in the same industry. Because the Fund only invests in Indian securities, its NAV will be much more sensitive to changes in economic, political and other factors within India than would a fund that invested in a greater variety of countries. Special risks include, among others, political and legal uncertainty, persistent religious, ethnic and border disputes, greater government control over the economy, currency fluctuations or blockage and the risk of nationalization or expropriation of assets.


18 EGA Emerging Global Shares Trust

 
 

Portfolio Summary (Unaudited)

EGShares Industrials GEMS ETF

Industry Breakdown*


Top Ten Holdings*

Cemex SAB de CV ADR 8.1%
Sime Darby Bhd 7.0
Bidvest Group, Ltd. 6.1
Alfa, SAB Class A 4.8
Mahindra & Mahindra, Ltd. 4.7
Tata Motors, Ltd. ADR 4.5
Imperial Holdings, Ltd. 4.5
Larsen & Toubro, Ltd. 4.1
Semen Gresik Persero Tbk PT 4.0
Embraer SA ADR 3.9

 

 
* Expressed as a percentage of total investments in securities as of 9/30/2012. Holdings are subject to change.

EGShares Industrials GEMS ETF (ticker: IGEM)

The Fund’s investment objective is to seek investment results that correspond (before fees and expenses) to the price and yield performance of the Dow Jones Emerging Markets Industrials Titans 30 Index SM (“Industrials Underlying Index”). The Industrials is comprised of publicly traded firms in the “Industrials Industry,” as defined by the Industry Classification Benchmark (“ICB”).

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. This Fund will concentrate its investments in issuers of one or more particular industries to the same extent that its underlying index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from investing more than 25% of the Fund’s assets in issuers conducting business in the same industry.


EGA Emerging Global Shares Trust 19

 
 

Portfolio Summary (Unaudited)

EGShares Low Volatility Emerging Markets Dividend ETF

Industry Breakdown*


Top Ten Holdings*

Indiabulls Financial Services, Ltd. 5.5%
Turk Traktor ve Ziraat Makineleri AS 5.2
Redefine Properties Ltd. 5.0
Shin Corp. PCL 5.0
Telekomunikacja Polska SA 4.9
Vodacom Group, Ltd. 4.9
Lewis Group Ltd. 4.4
Maxis BHD 4.0
Ecopetrol SA ADR 3.9
Growthpoint Properties Ltd. 3.7

 

 
* Expressed as a percentage of total investments in securities as of 9/30/2012. Holdings are subject to change.

EGShares Low Volatility Emerging Markets Dividend ETF (ticker: HILO)

The Fund’s investment objective is to seek investment results that correspond (before fees and expenses) to the price and yield performance of the INDXX Emerging Market High Income Low Beta Index (“HILB Underlying Index”). The HILB Underlying Index consists of companies whose shares are publicly traded in Emerging Markets countries, such as Chile, Columbia, Czech Republic, Egypt, Hungary, Indonesia, Jordan, Kuwait, Malaysia, Mexico, Morocco, Peru, Philippines, Poland, Russia, Slovenia, South Africa, Brazil, China, India, Thailand and Turkey.

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. This Fund will concentrate its investments in issuers of one or more particular industries to the same extent that its underlying index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from investing more than 25% of the Fund’s assets in issuers conducting business in the same industry.


20 EGA Emerging Global Shares Trust

 
 

Portfolio Summary (Unaudited)

EGShares Technology GEMS ETF

Industry Breakdown*


Top Ten Holdings*

Baidu, Inc. ADR 10.3%
Infosys, Ltd. ADR 8.9
Tata Consultancy Services, Ltd. 6.6
Lenovo Group, Ltd. 5.2
SINA Corp. 4.7
NetEase.com, Inc. ADR 4.6
Wipro, Ltd. ADR 4.3
Mail.ru Group, Ltd. GDR 3.4
Satyam Computer Services, Ltd. 3.3
China Communications Services Corp., Ltd.
  Class H
3.3

 

 
* Expressed as a percentage of total investments in securities as of 9/30/2012. Holdings are subject to change.

EGShares Technology GEMS ETF (ticker: QGEM)

The Fund’s investment objective is to seek investment results that correspond (before fees and expenses) to the price and yield performance of the Dow Jones Emerging Markets Technology Titans 30 Index SM (“Technology Underlying Index”). The Technology Underlying Index is comprised of publicly traded firms in the “Technology Industry,” as defined by the Industry Classification Benchmark (“ICB”).

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. This Fund will concentrate its investments in issuers of one or more particular industries to the same extent that its underlying index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from investing more than 25% of the Fund’s assets in issuers conducting business in the same industry.


EGA Emerging Global Shares Trust 21

 
 

Portfolio Summary (Unaudited)

EGShares Telecom GEMS ETF

Industry Breakdown*


Top Ten Holdings*

America Movil SAB de CV Series L ADR 10.1%
China Mobile, Ltd. 9.8
MTN Group, Ltd. 7.1
Telekomunikasi Indonesia Tbk PT ADR 4.2
Advanced Info Service PCL 4.0
Mobile TeleSystems ADR 4.0
Axiata Group BHD 3.8
China Telecom Corp., Ltd. Class H 3.8
China Unicom Hong Kong, Ltd. ADR 3.4
Telefonica Brasil SA Preference Shares ADR 3.4

 

 
* Expressed as a percentage of total investments in securities as of 9/30/2012. Holdings are subject to change.

EGShares Telecom GEMS ETF (ticker: TGEM)

The Fund’s investment objective is to seek investment results that correspond (before fees and expenses) to the price and yield performance of the Dow Jones Emerging Markets Telecommunications Titans 30 Index SM (“Telecom Underlying Index”). The Telecom Underlying Index is comprised of publicly traded firms in the “Telecommunications Industry,” as defined by the Industry Classification Benchmark (“ICB”).

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. This Fund will concentrate its investments in issuers of one or more particular industries to the same extent that its underlying index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from investing more than 25% of the Fund’s assets in issuers conducting business in the same industry.


22 EGA Emerging Global Shares Trust

 
 

Portfolio Summary (Unaudited)

EGShares Utilities GEMS ETF

Industry Breakdown*


Top Ten Holdings*

Ultrapar Participacoes SA ADR 9.5%
CEZ AS 6.5
Companhia Energetica de Minas Gerais ADR 6.3
Empresa Nacional de Electricidad SA ADR 5.6
Tenaga Nasional BHD 5.4
Companhia de Saneamento Basico do Estado de  
  Sao Paulo ADR 5.1
Perusahaan Gas Negara PT 4.8
PGE SA 4.6
NTPC, Ltd. 4.4
Enersis SA ADR 4.3

 

 
* Expressed as a percentage of total investments in securities as of 9/30/2012. Holdings are subject to change.

EGShares Utilities GEMS ETF (ticker: UGEM)

The Fund’s investment objective is to seek investment results that correspond (before fees and expenses) to the price and yield performance of the Dow Jones Emerging Markets Utilities Titans 30 Index SM (“Utilities Underlying Index”). The Utilities Underlying Index is comprised of publicly traded firms in the “Utilities Industry,” as defined by the Industry Classification Benchmark (“ICB”).

Emerging market investments involve risk of capital loss from unfavorable fluctuation in currency values, from differences in generally accepted accounting principles, from economic or political instability in other nations or increased volatility and lower trading volume. This Fund will concentrate its investments in issuers of one or more particular industries to the same extent that its underlying index is so concentrated and to the extent permitted by applicable regulatory guidance. Concentration risk results from investing more than 25% of the Fund’s assets in issuers conducting business in the same industry.


EGA Emerging Global Shares Trust 23

 
 

Shareholder Expense Examples (Unaudited)

As a shareholder of an EGA Emerging Global Shares Trust ETF, you incur advisory fees and other Fund expenses. The following example is intended to help you understand your ongoing costs (in dollars and cents) of investing in a Fund and to compare these costs with the ongoing costs of investing in other funds. The example is based on an investment of $1,000 invested at the beginning of the period and held throughout the entire period (April 1, 2012 to September 30, 2012).

Actual expenses

The first line under each Fund in the table below provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line for your Fund under the heading entitled “Expenses Paid Through 9/30/2012” to estimate the expenses you paid on your account during this period.

Hypothetical example for comparison purposes

The second line under each Fund in the table provides information about hypothetical account values and hypothetical expenses based on each Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in your Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions paid on purchases and sales of Fund shares. Therefore, the second line under each Fund in the table is useful in comparing ongoing Fund costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

24 EGA Emerging Global Shares Trust

 
 

Shareholder Expense Examples (Unaudited) (continued)

  Beginning Ending Annualized Expenses Paid
  Account Value Account Value Expense Ratios Through
  4/1/2012 9/30/2012 for the Period 9/30/2012 1
EGShares Basic Materials GEMS ETF (Consolidated) 2        
Actual $1,000.00 $   894.97 0.85% $4.04
Hypothetical (5% return before expenses) $1,000.00 $1,020.81 0.85% $4.31
EGShares Beyond BRICs ETF        
Actual $1,000.00 $1,028.00 0.85% $1.11
Hypothetical (5% return before expenses) $1,000.00 $1,020.81 0.85% $4.31
EGShares Brazil Infrastructure ETF        
Actual $1,000.00 $   867.00 0.85% $3.98
Hypothetical (5% return before expenses) $1,000.00 $1,020.81 0.85% $4.31
EGShares China Infrastructure ETF        
Actual $1,000.00 $   982.93 0.85% $4.23
Hypothetical (5% return before expenses) $1,000.00 $1,020.81 0.85% $4.31
EGShares Consumer Goods GEMS ETF (Consolidated) 2        
Actual $1,000.00 $1,010.42 0.85% $4.28
Hypothetical (5% return before expenses) $1,000.00 $1,020.81 0.85% $4.31
EGShares Consumer Services GEMS ETF        
Actual $1,000.00 $   964.54 0.85% $4.19
Hypothetical (5% return before expenses) $1,000.00 $1,020.81 0.85% $4.31
EGShares Emerging Markets Consumer ETF (Consolidated) 2        
Actual $1,000.00 $   985.47 0.85% $4.23
Hypothetical (5% return before expenses) $1,000.00 $1,020.81 0.85% $4.31
EGShares Emerging Markets Domestic Demand ETF (Consolidated) 2      
Actual $1,000.00 $1,027.00 0.85% $1.11
Hypothetical (5% return before expenses) $1,000.00 $1,020.81 0.85% $4.31
EGShares Emerging Markets Metals & Mining ETF (Consolidated) 2      
Actual $1,000.00 $   881.03 0.85% $4.01
Hypothetical (5% return before expenses) $1,000.00 $1,020.81 0.85% $4.31
EGShares Energy GEMS ETF (Consolidated) 2        
Actual $1,000.00 $   959.09 0.85% $4.17
Hypothetical (5% return before expenses) $1,000.00 $1,020.81 0.85% $4.31
EGShares Financials GEMS ETF (Consolidated) 2        
Actual $1,000.00 $   974.14 0.85% $4.21
Hypothetical (5% return before expenses) $1,000.00 $1,020.81 0.85% $4.31
EGShares GEMS Composite ETF (Consolidated) 2        
Actual $1,000.00 $   961.82 0.75% $3.69
Hypothetical (5% return before expenses) $1,000.00 $1,021.31 0.75% $3.80
EGShares Health Care GEMS ETF (Consolidated) 2        
Actual $1,000.00 $1,107.39 0.85% $4.49
Hypothetical (5% return before expenses) $1,000.00 $1,020.81 0.85% $4.31
EGShares India Consumer ETF (Consolidated) 2        
Actual $1,000.00 $1,157.23 0.89% $4.81
Hypothetical (5% return before expenses) $1,000.00 $1,020.61 0.89% $4.51
EGShares India Infrastructure ETF (Consolidated) 2        
Actual $1,000.00 $   979.32 0.85% $4.22
Hypothetical (5% return before expenses) $1,000.00 $1,020.81 0.85% $4.31
EGShares India Small Cap ETF (Consolidated) 2        
Actual $1,000.00 $1,010.42 0.85% $4.28
Hypothetical (5% return before expenses) $1,000.00 $1,020.81 0.85% $4.31
EGShares Industrials GEMS ETF (Consolidated) 2        
Actual $1,000.00 $   999.47 0.85% $4.26
Hypothetical (5% return before expenses) $1,000.00 $1,020.81 0.85% $4.31

 

EGA Emerging Global Shares Trust 25

 
 

Shareholder Expense Examples (Unaudited) (concluded)

  Beginning Ending Annualized Expenses Paid
  Account Value Account Value Expense Ratios Through
  4/1/2012 9/30/2012 for the Period 9/30/2012 1
EGShares Low Volatility Emerging Markets Dividend ETF (Consolidated) 2      
Actual $1,000.00 $   958.92 0.85% $4.17
Hypothetical (5% return before expenses) $1,000.00 $1,020.81 0.85% $4.31
EGShares Technology GEMS ETF (Consolidated) 2        
Actual $1,000.00 $   956.57 0.85% $4.17
Hypothetical (5% return before expenses) $1,000.00 $1,020.81 0.85% $4.31
EGShares Telecom GEMS ETF (Consolidated) 2        
Actual $1,000.00 $1,027.21 0.85% $4.32
Hypothetical (5% return before expenses) $1,000.00 $1,020.81 0.85% $4.31
EGShares Utilities GEMS ETF (Consolidated) 2        
Actual $1,000.00 $   930.07 0.85% $4.11
Hypothetical (5% return before expenses) $1,000.00 $1,020.81 0.85% $4.31

 

1 Expenses are calculated using each Fund's annualized expense ratio, which includes waived fees or reimbursed expenses, multiplied by the average account value for the period, multiplied by 183/365 (to reflect the six-month period).
2 Expenses for these Funds include the accounts of wholly owned subsidiaries. All inter-company accounts and transactions have been eliminated in consolidation. See Note 2 in the Notes to Financial Statements.

26 EGA Emerging Global Shares Trust

 
 

Frequency Distribution of Premium and Discount (Unaudited)

The chart below presents information about differences between the per share net asset value (“NAV”) of each Fund and the market trading price of shares of each Fund. For these purposes, the “market price” is the midpoint of the highest bid and lowest offer for Fund shares as of the close of trading on the exchange where Fund shares are listed. The term “premium” is sometimes used to describe a market price in excess of NAV and the term “discount” is sometimes used to describe a market price below NAV. The chart presents information about the size and frequency of premiums or discounts. As with other exchange traded funds, the market price of Fund shares is typically slightly higher or lower than the Fund’s per share NAV. Factors that contribute to the differences between market price and NAV include the supply and demand for Fund shares and investors’ assessments of the underlying value of a Fund’s portfolio securities.

Differences between the closing times of U.S. and non-U.S. markets may contribute to differences between the NAV and market price of Fund shares. Many non-U.S. markets close prior to the close of the U.S. securities exchanges. Developments after the close of such markets as a result of ongoing price discovery may be reflected in a Fund’s market price but not in its NAV (or vice versa).

    Market Price
Above or Equal to NAV
Market Price
Below NAV
   
  Basis Point
Differential
Number
of Days
% of
Total Days
Number
of Days
% of
Total Days
 
EGShares Basic Materials GEMS ETF          
June 23, 2011*–September 30, 2012          
  0-24.99 36 11.22% 30 9.35%
  25-49.99 41 12.77% 32 9.97%
  50-74.99 26 8.10% 20 6.23%
  75-99.99 21 6.54% 9 2.80%
  > 100 64 19.94% 42 13.08%
Total   188 58.57% 133 41.43%
EGShares Beyond BRICs ETF          
August 15, 2012*–September 30, 2012          
  0-24.99 0.00% 1 3.13%
  25-49.99 7 21.87% 0.00%
  50-74.99 7 21.87% 0.00%
  75-99.99 11 34.38% 0.00%
  > 100 6 18.75% 0.00%
Total   31 96.87% 1 3.13%
EGShares Brazil Infrastructure ETF          
February 24, 2010*–September 30, 2012          
  0-24.99 48 7.34% 49 7.49%
  25-49.99 37 5.66% 47 7.19%
  50-74.99 24 3.67% 44 6.73%
  75-99.99 24 3.67% 15 2.29%
  > 100 340 51.99% 26 3.97%
Total   473 72.33% 181 27.67%
EGShares China Infrastructure ETF          
February 17, 2010*–September 30, 2012          
  0-24.99 68 10.30% 61 9.24%
  25-49.99 63 9.55% 63 9.55%
  50-74.99 67 10.15% 44 6.67%
  75-99.99 50 7.58% 42 6.36%
  > 100 101 15.30% 101 15.30%
Total   349 52.88% 311 47.12%
EGShares Consumer Goods GEMS ETF          
June 23, 2011*–September 30, 2012          
  0-24.99 47 14.64% 45 14.02%
  25-49.99 35 10.90% 41 12.77%
  50-74.99 29 9.04% 26 8.10%
  75-99.99 19 5.92% 22 6.85%
  > 100 18 5.61% 39 12.15%
Total   148 46.11% 173 53.89%

 

EGA Emerging Global Shares Trust 27

 
 

Frequency Distribution of Premium and Discount (Unaudited) (continued)

    Market Price
Above or Equal to NAV
Market Price
Below NAV
   
  Basis Point
Differential
Number
of Days
% of
Total Days
Number
of Days
% of
Total Days
 
EGShares Consumer Services GEMS ETF          
June 23, 2011*–September 30, 2012          
  0-24.99 50 15.58% 63 19.63%
  25-49.99 33 10.28% 41 12.77%
  50-74.99 15 4.67% 38 11.84%
  75-99.99 3 0.93% 30 9.34%
  > 100 4 1.25% 44 13.71%
Total   105 32.71% 216 67.29%
EGShares Emerging Markets Consumer ETF          
September 14, 2010*–September 30, 2012          
  0-24.99 84 16.22% 72 13.90%
  25-49.99 125 24.13% 29 5.60%
  50-74.99 97 18.73% 14 2.70%
  75-99.99 46 8.88% 11 2.12%
  > 100 26 5.02% 14 2.70%
Total   378 72.98% 140 27.02%
EGShares Emerging Markets Domestic Demand ETF          
August 15, 2012*–September 30, 2012          
  0-24.99 1 3.12% 2 6.25%
  25-49.99 10 31.25% 0.00%
  50-74.99 11 34.38% 0.00%
  75-99.99 6 18.75% 0.00%
  > 100 2 6.25% 0.00%
Total   30 93.75% 2 6.25%
EGShares Emerging Markets Metals & Mining ETF          
May 21, 2009*–September 30, 2012          
  0-24.99 139 16.41% 106 12.51%
  25-49.99 111 13.11% 74 8.74%
  50-74.99 79 9.33% 61 7.20%
  75-99.99 75 8.85% 40 4.72%
  > 100 88 10.39% 74 8.74%
Total   492 58.09% 355 41.91%
EGShares Energy GEMS ETF          
May 21, 2009*–September 30, 2012          
  0-24.99 105 12.41% 87 10.28%
  25-49.99 120 14.19% 90 10.64%
  50-74.99 117 13.83% 74 8.75%
  75-99.99 59 6.97% 34 4.02%
  > 100 79 9.34% 81 9.57%
Total   480 56.74% 366 43.26%
EGShares Financials GEMS ETF          
September 16, 2009*–September 30, 2012          
  0-24.99 105 13.73% 101 13.20%
  25-49.99 92 12.03% 88 11.50%
  50-74.99 55 7.19% 84 10.98%
  75-99.99 43 5.62% 40 5.23%
  > 100 84 10.98% 73 9.54%
Total   379 49.55% 386 50.45%
EGShares GEMS Composite ETF          
July 22, 2009*–September, 2012          
  0-24.99 115 14.29% 110 13.66%
  25-49.99 118 14.66% 97 12.05%
  50-74.99 65 8.07% 72 8.94%
  75-99.99 59 7.33% 29 3.60%
  > 100 77 9.57% 63 7.83%
Total   434 53.92% 371 46.08%

 

28 EGA Emerging Global Shares Trust

 
 

Frequency Distribution of Premium and Discount (Unaudited) (continued)

    Market Price
Above or Equal to NAV
Market Price
Below NAV
     
  Basis Point
Differential
Number
of Days
% of
Total Days
Number
of Days
% of
Total Days
 
EGShares Health Care GEMS ETF          
June 23, 2011*–September 30, 2012          
  0-24.99 39 12.15% 44 13.71%
  25-49.99 34 10.59% 38 11.84%
  50-74.99 15 4.67% 48 14.95%
  75-99.99 12 3.74% 20 6.23%
  > 100 22 6.85% 49 15.27%
Total   122 38.00% 199 62.00%
EGShares India Consumer ETF          
August 10, 2011*–September 30, 2012          
  0-24.99 18 6.27% 33 11.50%
  25-49.99 31 10.80% 30 10.45%
  50-74.99 35 12.20% 19 6.62%
  75-99.99 18 6.27% 4 1.39%
  > 100 79 27.53% 20 6.97%
Total   181 63.07% 106 36.93%
EGShares India Infrastructure ETF          
August 11, 2010*–September 30, 2012          
  0-24.99 47 8.72% 52 9.65%
  25-49.99 56 10.39% 46 8.53%
  50-74.99 53 9.83% 45 8.35%
  75-99.99 36 6.68% 33 6.12%
  > 100 88 16.33% 83 15.40%
Total   280 51.95% 259 48.05%
EGShares India Small Cap ETF          
July 7, 2010*–September 30, 2012          
  0-24.99 64 11.35% 42 7.45%
  25-49.99 51 9.04% 40 7.09%
  50-74.99 51 9.04% 35 6.21%
  75-99.99 52 9.22% 22 3.90%
  > 100 138 24.47% 69 12.23%
Total   356 63.12% 208 36.88%
EGShares Industrials GEMS ETF          
June 23, 2011*–September 30, 2012          
  0-24.99 37 11.53% 42 13.08%
  25-49.99 28 8.72% 28 8.72%
  50-74.99 25 7.79% 25 7.79%
  75-99.99 19 5.92% 26 8.10%
  > 100 33 10.28% 58 18.07%
Total   142 44.24% 179 55.76%
EGShares Low Volatility Emerging Markets Dividend ETF          
August 4, 2011*–September 30, 2012          
  0-24.99 34 11.68% 37 12.72%
  25-49.99 54 18.56% 11 3.78%
  50-74.99 50 17.18% 12 4.12%
  75-99.99 35 12.03% 11 3.78%
  > 100 37 12.71% 10 3.44%
Total   210 72.16% 81 27.84%
EGShares Technology GEMS ETF          
June 23, 2011*–September 30, 2012          
  0-24.99 61 19.00% 55 17.13%
  25-49.99 44 13.71% 24 7.48%
  50-74.99 30 9.35% 18 5.61%
  75-99.99 23 7.17% 14 4.36%
  > 100 29 9.03% 23 7.16%
Total   187 58.26% 134 41.74%

 

EGA Emerging Global Shares Trust 29

 
 

Frequency Distribution of Premium and Discount (Unaudited) (concluded)

    Market Price
Above or Equal to NAV
Market Price
Below NAV
   
  Basis Point
Differential
Number
of Days
% of
Total Days
Number
of Days
% of
Total Days
 
EGShares Telecom GEMS ETF          
June 23, 2011*–September 30, 2012          
  0-24.99 47 14.64% 45 14.02%
  25-49.99 34 10.59% 37 11.53%
  50-74.99 23 7.17% 22 6.85%
  75-99.99 26 8.10% 12 3.74%
  > 100 48 14.95% 27 8.41%
Total   178 55.45% 143 44.55%
EGShares Utilities GEMS ETF          
June 23, 2011*–September 30, 2012          
  0-24.99 52 16.20% 62 19.31%
  25-49.99 37 11.53% 43 13.39%
  50-74.99 14 4.36% 31 9.66%
  75-99.99 12 3.74% 18 5.61%
  > 100 5 1.56% 47 14.64%
Total   120 37.39% 201 62.61%

 

* Commencement of Operations.

Each line in the table shows the number of trading days in which the Fund traded within the premium/discount range indicated. The number of trading days in each premium/discount range is also shown as a percentage of the total number of trading days in the period covered by each table. All data presented here represents past performance, which cannot be used to predict future results.

30 EGA Emerging Global Shares Trust

 
 

Schedule of Investments (Consolidated)†

EGShares Basic Materials GEMS ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
COMMON STOCKS—99.7%    
Brazil—16.6%    
Companhia Siderurgica Nacional SA ADR 13,994 $ 78,786
Gerdau SA Preference Shares ADR 13,786 131,105
Vale SA Preference A Shares ADR 15,211 264,063
Total Brazil   473,954
Chile – 3.0%    
Empresas CMPC SA 21,862 86,048
China—17.3%    
Aluminum Corp. of China, Ltd. Class H ADR* 4,281 43,366
China Coal Energy Co., Ltd. Class H 79,696 72,776
China Shenhua Energy Co., Ltd. Class H 47,957 186,181
Jiangxi Copper Co., Ltd. Class H 29,304 74,231
Yanzhou Coal Mining Co., Ltd. Class H ADR 3,961 59,217
Zijin Mining Group Co., Ltd. Class H 137,949 55,690
Total China   491,461
India—9.7%    
Coal India, Ltd. 12,316 83,815
Hindalco Industries, Ltd. 17,882 40,921
Jindal Steel & Power, Ltd. 8,636 69,938
Sterlite Industries India, Ltd. ADR 5,443 41,312
Tata Steel, Ltd. 5,223 39,699
Total India   275,685
Indonesia—1.2%    
Bumi Resources Tbk PT 472,962 36,077
Malaysia—2.7%    
Petronas Chemicals Group BHD 36,400 76,218
Mexico—8.6%    
Grupo Mexico SAB de CV Series B 40,609 134,360
Industrias Penoles SAB de CV 2,224 109,840
Total Mexico   244,200
Poland—4.1%    
KGHM Polska Miedz SA 2,459 117,057

 

Investments Shares Value
 
Russia—15.3%    
Evraz PLC 9,482 $ 37,758
MMC Norilsk Nickel OJSC ADR 9,999 159,484
Novolipetsk Steel GDR 1,584 31,363
Severstal GDR 3,959 49,527
Uralkali OJSC GDR 3,788 156,709
Total Russia   434,841
South Africa—21.2%    
Anglo American Platinum, Ltd. 1,189 61,675
AngloGold Ashanti, Ltd. ADR 5,317 186,361
Gold Fields, Ltd. ADR 10,282 132,124
Impala Platinum Holdings, Ltd. 8,222 138,509
Kumba Iron Ore, Ltd. 1,386 84,479
Total South Africa   603,148
TOTAL INVESTMENTS IN SECURITIES—99.7%    
(Cost: $3,258,619)   2,838,689
Other Assets in Excess of Liabilities—0.3%   7,333
Net Assets—100.0%   $ 2,846,022

 

The Consolidated Schedule of Investments includes the accounts of the wholly owned subsidiary. All inter-company accounts and transactions have been eliminated in consolidation. See Note 2 of the Notes to Financial Statements.
* Non-income producing security
ADR American Depositary Receipts
GDR Global Depositary Receipts
        % of
Summary by Industry   Value   Net Assets
Chemicals   $ 232,927       8.2 %
Metals & Mining     2,081,648       73.1  
Oil, Gas & Consumable Fuels     438,066       15.4  
Paper & Forest Products     86,048       3.0  
Total Investments     2,838,689       99.7  
Other Assets in Excess of Liabilities     7,333       0.3  
Net Assets   $ 2,846,022       100.0 %

 


The accompanying notes are an integral part of these financial statements.

EGA Emerging Global Shares Trust 31

 
 

Schedule of Investments

EGShares Beyond BRICs ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
COMMON STOCKS—99.6%    
Chile—4.9%    
Banco Santander Chile ADR 635 $ 46,507
Enersis SA ADR 3,804 62,348
Lan Airlines SA ADR 5,092 128,726
Sociedad Quimica y Minera de Chile SA ADR 1,881 115,945
Total Chile   353,526
Colombia—3.9%    
Bancolombia SA ADR 1,253 74,817
Ecopetrol SA ADR 3,545 208,907
Total Colombia   283,724
Indonesia—11.9%    
Astra International Tbk PT 272,835 210,969
Bank Central Asia Tbk PT 203,740 168,187
Bank Mandiri Persero Tbk PT 148,950 127,627
Bank Rakyat Indonesia Persero Tbk PT 168,093 130,856
Perusahaan Gas Negara PT 162,047 69,848
Telekomunikasi Indonesia Tbk PT ADR 3,883 151,165
Total Indonesia   858,652
Malaysia—15.1%    
Axiata Group BHD 54,400 115,688
CIMB Group Holdings BHD 65,100 159,741
DiGi.Com BHD 39,900 68,926
Genting BHD 36,200 103,158
Malayan Banking BHD 46,200 136,189
Maxis BHD 27,300 61,808
Petronas Chemicals Group BHD 28,000 58,629
Public Bank BHD 42,000 197,598
Sime Darby BHD 38,300 122,801
Tenaga Nasional BHD 29,400 65,600
Total Malaysia   1,090,138
Mexico—18.2%    
America Movil SAB de CV Series L ADR 12,933 329,015
Fomento Economico Mexicano SAB de CV ADR 3,724 342,533
Grupo Mexico SAB de CV Series B 92,146 304,878
Grupo Modelo SAB de CV Series C 36,767 331,403
Total Mexico   1,307,829
Peru—1.9%    
Cia de Minas Buenaventura SA ADR 3,454 134,568
Philippines—1.0%    
SM Investments Corp. 3,970 69,474
Poland—3.5%    
Bank Pekao SA 1,498 73,788
PGE SA 10,441 60,295
Powszechna Kasa Oszczednosci Bank Polski SA 10,469 116,339
Total Poland   250,422
South Africa—18.3%    
FirstRand, Ltd. 63,537 214,764
MTN Group, Ltd. 18,126 351,947
Naspers, Ltd. N Shares 4,490 280,229
Sasol, Ltd. 6,686 301,671
Standard Bank Group, Ltd. 13,260 169,752
Total South Africa   1,318,363

 

Investments Shares Value
 
Thailand—14.4%    
Advanced Info Service PCL 23,800 $ 165,471
Bangkok Bank PCL 19,141 120,642
Kasikornbank PCL 25,900 153,566
PTT Exploration & Production PCL 16,100 84,998
PTT PCL 19,600 209,500
Siam Cement PCL 9,100 103,181
Siam Commercial Bank PCL 36,400 199,266
Total Thailand   1,036,624
Turkey—6.5%    
Akbank TAS 25,080 99,169
KOC Holding AS 8,630 34,508
Turk Telekomunikasyon AS 6,980 27,833
Turkcell Iletisim Hizmetleri AS* 11,524 70,276
Turkiye Garanti Bankasi AS 31,472 131,455
Turkiye Halk Bankasi AS 4,567 35,608
Turkiye Is Bankasi Class C 21,225 66,668
Total Turkey   465,517
TOTAL INVESTMENTS IN SECURITIES—99.6%    
(Cost: $7,039,850)   7,168,837
Other Assets in Excess of Liabilities—0.4%   27,063
Net Assets—100.0%   $ 7,195,900

 

* Non-income producing security

ADR American Depositary Receipts

        % of
Summary by Industry   Value   Net Assets
Airlines   $ 128,726       1.8 %
Automobiles     210,969       2.9  
Beverages     673,936       9.4  
Chemicals     174,574       2.4  
Commercial Banks     2,207,775       30.7  
Construction Materials     103,181       1.4  
Diversified Financial Services     214,764       3.0  
Diversified Telecommunication Services     178,998       2.5  
Electric Utilities     188,243       2.6  
Gas Utilities     69,848       1.0  
Hotels, Restaurants & Leisure     103,158       1.4  
Industrial Conglomerates     226,783       3.1  
Media     280,229       3.9  
Metals & Mining     439,446       6.1  
Oil, Gas & Consumable Fuels     805,076       11.2  
Wireless Telecommunication Services     1,163,131       16.2  
Total Investments     7,168,837       99.6  
Other Assets in Excess of Liabilities     27,063       0.4  
Net Assets   $ 7,195,900       100.0 %

 


The accompanying notes are an integral part of these financial statements.

32 EGA Emerging Global Shares Trust

 
 

Schedule of Investments

EGShares Brazil Infrastructure ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
COMMON STOCKS—99.0%    
Aerospace & Defense—4.9%    
Embraer SA 519,461 $ 3,459,147
Diversified Telecommunication Services—9.2%    
Oi SA Preference Shares 836,266 3,363,531
Telefonica Brasil SA 142,468 3,100,336
Total Diversified Telecommunication Services   6,463,867
Electric Utilities—9.6%    
Centrais Eletricas Brasileiras SA 346,117 2,060,870
Companhia Energetica de Minas Gerais 158,360 1,706,304
CPFL Energia SA 267,877 2,944,429
Total Electric Utilities   6,711,603
Energy Equipment & Services—0.4%    
OSX Brasil SA* 48,128 294,632
Gas Utilities—3.0%    
Companhia de Gas de Sao Paulo Class A 93,367 2,106,372
Independent Power Producers & Energy Traders—9.0%    
AES Tiete SA 116,546 1,047,811
Companhia Energetica de Sao Paulo    
Preference Shares Class B 199,915 2,111,681
Tractebel Energia SA 202,550 3,189,803
Total Independent Power Producers & Energy Traders   6,349,295
Machinery—6.9%    
Iochpe-Maxion SA 54,035 707,931
Marcopolo SA Preference Shares 308,217 1,782,031
Weg SA 202,530 2,374,896
Total Machinery   4,864,858
Metals & Mining—13.8%    
Companhia Siderurgica Nacional SA 660,257 3,732,821
Gerdau SA 311,883 2,448,884
Vale SA 198,144 3,539,402
Total Metals & Mining   9,721,107

 

Investments Shares Value
 
Oil, Gas & Consumable Fuels—5.0%    
Ultrapar Participacoes SA 158,547 $ 3,544,801
Real Estate Management & Development—11.4%    
BR Malls Participacoes SA 282,258 3,882,995
BR Properties SA 165,041 2,143,548
Multiplan Empreendimentos Imobiliarios SA 67,657 1,987,558
Total Real Estate Management & Development   8,014,101
Road & Rail—5.6%    
All America Latina Logistica 415,840 1,707,387
JSL SA 59,640 316,308
Localiza Rent a Car SA 108,496 1,878,145
Total Road & Rail   3,901,840
Transportation Infrastructure—9.1%    
CCR SA 460,071 4,090,931
Ecorodovias Infraestrutura e Logistica SA 139,150 1,201,650
Obrascon Huarte Lain Brasil SA 121,204 1,103,430
Total Transportation Infrastructure   6,396,011
Water Utilities—6.9%    
Companhia de Saneamento Basico do Estado de Sao Paulo 85,629 3,481,633
Companhia de Saneamento de Minas Gerais 59,952 1,360,799
Total Water Utilities   4,842,432
Wireless Telecommunication Services—4.2%    
Tim Participacoes SA 758,748 2,917,111
TOTAL INVESTMENTS IN SECURITIES—99.0%    
(Cost: $67,913,423)   69,587,177
Other Assets in Excess of Liabilities—1.0%   721,605
Net Assets—100.0%   $ 70,308,782

 

* Non-income producing security

The accompanying notes are an integral part of these financial statements.

EGA Emerging Global Shares Trust 33

 
 

Schedule of Investments

EGShares China Infrastructure ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
COMMON STOCKS—99.9%    
Construction & Engineering—14.6%    
China Communications Construction Co., Ltd. Class H 561,521 $ 454,098
China Railway Construction Corp., Ltd. Class H 600,009 537,073
China Railway Group, Ltd. Class H 1,228,269 537,044
Total Construction & Engineering   1,528,215
Construction Materials—11.8%    
Anhui Conch Cement Co., Ltd. Class H 200,262 623,781
BBMG Corp. Class H 356,145 272,853
China National Building Material Co., Ltd. Class H 305,745 337,953
Total Construction Materials   1,234,587
Diversified Telecommunication Services—10.0%    
China Telecom Corp., Ltd. Class H 960,732 555,132
China Unicom Hong Kong, Ltd. 303,540 497,989
Total Diversified Telecommunication Services   1,053,121
Electrical Equipment—8.1%    
Dongfang Electric Corp., Ltd. Class H 184,619 251,453
Shanghai Electric Group Co., Ltd. Class H 1,180,909 420,379
Zhuzhou CSR Times Electric Co., Ltd. Class H 70,962 182,685
Total Electrical Equipment   854,517
Energy Equipment & Services—5.5%    
China Oilfield Services, Ltd. Class H 317,206 577,687
Gas Utilities—2.0%    
ENN Energy Holdings Ltd. 48,861 205,760
Independent Power Producers & Energy Traders—12.5%  
China Longyuan Power Group Corp. Class H 447,477 294,345
Datang International Power Generation Co., Ltd. Class H 1,377,341 463,659
Huaneng Power International, Inc. Class H 720,156 548,018
Total Independent Power Producers & Energy Traders 1,306,022

 

Investments Shares Value
 
Machinery—12.9%    
Changsha Zoomlion Heavy Industry Science And Technology Development Co., Ltd. Class H 427,046 $ 485,251
CSR Corp., Ltd. Class H 666,985 441,316
Weichai Power Co., Ltd. Class H 139,439 427,134
Total Machinery   1,353,701
Metals & Mining—13.3%    
Aluminum Corp. of China, Ltd. Class H* 1,172,067 485,259
Angang Steel Co., Ltd. Class H 461,819 238,258
Jiangxi Copper Co., Ltd. Class H 212,702 538,802
Maanshan Iron & Steel Co., Ltd. Class H 543,061 127,479
Total Metals & Mining   1,389,798
Real Estate Management & Development—9.2%    
Agile Property Holdings, Ltd. 88,202 99,427
Country Garden Holdings Co., Ltd.* 306,056 119,213
Evergrande Real Estate Group, Ltd. 349,125 138,241
Guangzhou R&F Properties Co., Ltd. Class H 207,397 238,875
Longfor Properties Co., Ltd. 88,393 136,809
Shimao Property Holdings, Ltd. 88,682 152,584
Soho China, Ltd. 125,839 77,906
Total Real Estate Management & Development   963,055
TOTAL INVESTMENTS IN SECURITIES—99.9%    
(Cost: $13,396,369)   10,466,463
Other Assets in Excess of Liabilities—0.1%   11,487
Net Assets—100.0%   $ 10,477,950

 

* Non-income producing security

The accompanying notes are an integral part of these financial statements.

34 EGA Emerging Global Shares Trust

 
 

Schedule of Investments (Consolidated)†

EGShares Consumer Goods GEMS ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
COMMON STOCKS—100.3%    
Brazil—15.5%    
BRF—Brasil Foods SA ADR 7,158 $ 123,833
Companhia de Bebidas das Americas    
Preference Shares ADR 5,791 221,622
Total Brazil   345,455
Cayman Islands—2.7%    
China Mengniu Dairy Co. Ltd. 20,243 60,573
China—7.2%    
China Agri-Industries Holdings, Ltd. 46,691 26,437
Dongfeng Motor Group Co., Ltd. Class H 43,835 51,166
Great Wall Motor Co., Ltd. Class H 19,327 50,977
Guangzhou Automobile Group Co., Ltd. Class H 48,451 31,808
Total China   160,388
Colombia—2.4%    
Grupo Nutresa SA 4,692 54,765
India—15.1%    
Bajaj Auto, Ltd. 1,364 47,327
Hero MotoCorp, Ltd. 1,530 54,543
Hindustan Unilever, Ltd. 11,642 120,481
ITC, Ltd. 22,149 114,388
Total India   336,739
Indonesia—12.9%    
Astra International Tbk PT 192,559 148,896
Gudang Garam Tbk PT 8,147 39,543
Indofood Sukses Makmur Tbk PT 81,167 47,920
Unilever Indonesia Tbk PT 19,157 52,146
Total Indonesia   288,505
Malaysia—9.4%    
British American Tobacco Malaysia BHD 2,300 45,451
IOI Corp. BHD 44,600 72,667
Kuala Lumpur Kepong BHD 7,500 54,131
PPB Group BHD 9,500 37,484
Total Malaysia   209,733

 

Investments Shares Value
     
Mexico—24.1%    
Arca Continental SAB de CV 11,235 $ 79,649
Coca-Cola Femsa SAB de CV ADR 511 65,919
Fomento Economico Mexicano SAB de CV ADR 1,794 165,012
Grupo Bimbo SAB de CV Series A 33,854 84,600
Grupo Modelo SAB de CV Series C 8,894 80,167
Kimberly-Clark de Mexico SAB de CV Class A 25,997 62,156
Total Mexico   537,503
Philippines—2.2%    
San Miguel Corp. 18,225 48,189
South Africa—3.9%    
Tiger Brands, Ltd. 2,616 86,592
Thailand—2.6%    
Charoen Pokphand Foods Public Co., Ltd. 53,400 58,119
Turkey—2.3%    
Anadolu Efes Biracilik ve Malt Sanayii AS 3,457 51,405
TOTAL INVESTMENTS IN SECURITIES—100.3%    
(Cost: $2,070,755)   2,237,966
Liabilities in Excess of Other Assets—(0.3)%   (7,106)
Net Assets—100.0%   $ 2,230,860

 

The Consolidated Schedule of Investments includes the accounts of the wholly owned subsidiary. All inter-company accounts and transactions have been eliminated in consolidation. See Note 2 of the Notes to Financial Statements.
ADR American Depositary Receipts
Summary by Industry   Value   Net Assets
Automobiles   $ 384,717       17.3 %
Beverages     711,963       31.9  
Food Products     707,121       31.7  
Household Products     234,783       10.5  
Tobacco     199,382       8.9  
Total Investments     2,237,966       100.3  
Liabilities in Excess of Other Assets     (7,106 )     (0.3 )
Net Assets   $ 2,230,860       100.0 %

 


The accompanying notes are an integral part of these financial statements.

EGA Emerging Global Shares Trust 35

 
 

Schedule of Investments

EGShares Consumer Services GEMS ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
COMMON STOCKS—101.9%    
Brazil—4.1%    
Companhia Brasileira de Distribuicao Grupo Pao de Acucar Preference Shares ADR 1,804 $ 81,379
Chile—12.7%    
Cencosud SA 6,149 37,230
Lan Airlines SA ADR 4,557 115,201
S.A.C.I. Falabella 10,249 103,445
Total Chile   255,876
China—9.0%    
Air China, Ltd. Class H 39,799 25,050
China Resources Enterprise, Ltd. 18,793 62,779
Ctrip.com International, Ltd. ADR* 2,694 45,474
New Oriental Education & Technology Group, Ltd. ADR 2,814 46,909
Total China   180,212
Colombia—2.6%    
Almacenes Exito SA 3,231 52,926
Malaysia—7.7%    
AirAsia BHD 28,500 28,160
Genting BHD 27,200 77,511
Genting Malaysia BHD 43,300 49,583
Total Malaysia   155,254
Mexico—12.8%    
Grupo Elektra SA de CV 246 10,035
Grupo Televisa SAB ADR 3,558 83,649
TV Azteca SAB de CV Series CPO 15,415 10,646
Wal-Mart de Mexico SAB de CV Series V 54,070 152,446
Total Mexico   256,776
Philippines—3.3%    
SM Investments Corp. 3,840 67,199
Russia—8.1%    
Magnit OJSC GDR 3,593 122,126
X5 Retail Group NV GDR* 1,975 41,495
Total Russia   163,621

 

Investments Shares Value
       
South Africa—35.4%      
Foschini Group Ltd. (The) 4,036 $ 61,882  
Massmart Holdings, Ltd. 1,733 35,056  
Mr. Price Group Ltd. 3,782 57,749  
Naspers, Ltd. N Shares 3,398 212,076  
Pick n Pay Stores, Ltd. 4,352 23,545  
Shoprite Holdings, Ltd. 4,384 89,442  
Steinhoff International Holdings, Ltd. 27,029 85,433  
Truworths International, Ltd. 7,237 82,446  
Woolworths Holdings, Ltd. 8,930 65,791  
Total South Africa   713,420  
Thailand—3.3%      
CP ALL PCL 57,500 66,317  
Turkey—2.9%      
BIM Birlesik Magazalar AS 1,392 58,142  
TOTAL INVESTMENTS IN SECURITIES—101.9%      
(Cost: $2,003,822)   2,051,122  
Liabilities in Excess of Other Assets—(1.9)%   (37,797 )
Net Assets—100.0%   $ 2,013,325  

 

* Non-income producing security
ADR American Depositary Receipts
GDR Global Depositary Receipts
        % of
Summary by Industry   Value   Net Assets
Airlines   $ 168,411       8.4 %
Diversified Consumer Services     46,909       2.3  
Food & Staples Retailing     822,883       40.9  
Hotels, Restaurants & Leisure     172,568       8.6  
Household Durables     85,433       4.2  
Industrial Conglomerates     67,199       3.3  
Media     306,371       15.2  
Multiline Retail     169,236       8.4  
Specialty Retail     212,112       10.6  
Total Investments     2,051,122       101.9  
Liabilities in Excess of Other Assets     (37,797 )     (1.9 )
Net Assets   $ 2,013,325       100.0 %

 


The accompanying notes are an integral part of these financial statements.

36 EGA Emerging Global Shares Trust

 
 

Schedule of Investments (Consolidated)†

EGShares Emerging Markets Consumer ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
COMMON STOCKS—99.9%    
Brazil—17.0%    
BRF—Brasil Foods SA ADR 1,156,810 $ 20,012,813
Companhia Brasileira de Distribuicao Grupo Pao de Acucar Preference Shares ADR 271,513 12,247,951
Companhia de Bebidas das Americas    
Preference Shares ADR 1,158,586 44,339,086
Total Brazil   76,599,850
Chile—9.3%    
Cencosud SA 1,761,616 10,665,842
Lan Airlines SA ADR 576,595 14,576,322
S.A.C.I. Falabella 1,671,387 16,869,544
Total Chile   42,111,708
China—5.3%    
China Resources Enterprise, Ltd. 2,100,704 7,017,475
Ctrip.com International, Ltd. ADR* 316,342 5,339,853
Dongfeng Motor Group Co., Ltd. Class H 5,748,108 6,709,493
New Oriental Education & Technology Group, Ltd. ADR 278,391 4,640,778
Total China   23,707,599
Colombia—1.5%    
Grupo Nutresa SA 579,266 6,761,159
India—11.2%    
Bajaj Auto, Ltd. 165,521 5,743,103
Hero Motocorp, Ltd. 186,073 6,633,294
Hindustan Unilever, Ltd. 1,834,452 18,984,465
ITC, Ltd. 3,685,373 19,033,000
Total India   50,393,862
Indonesia—5.9%    
Astra International TBK PT 34,106,738 26,373,026
Malaysia—6.2%    
Genting BHD 4,124,120 11,752,359
Genting Malaysia BHD 6,377,080 7,302,398
IOI Corp. BHD 5,562,920 9,063,747
Total Malaysia   28,118,504
Mexico—18.5%    
Fomento Economico Mexicano SAB de CV Series UB 3,094,273 28,525,865
Grupo Bimbo SAB de CV Series A 4,760,956 11,897,530
Grupo Televisa SAB Series CPO 3,469,624 16,380,344
Wal-Mart de Mexico SAB de CV Series V 9,473,398 26,709,497
Total Mexico   83,513,236

 

Investments Shares Value
 
Russia—3.9%    
Magnit OJSC GDR 512,372 $ 17,415,524
South Africa—19.0%    
Naspers, Ltd. N Shares 648,999 40,505,265
Shoprite Holdings, Ltd. 668,933 13,647,574
Steinhoff International Holdings, Ltd.* 3,107,702 9,822,736
Tiger Brands, Ltd. 364,298 12,058,570
Truworths International, Ltd. 842,169 9,594,285
Total South Africa   85,628,430
Thailand—2.1%    
CP ALL PCL 8,178,800 9,432,989
TOTAL INVESTMENTS IN SECURITIES—99.9%    
(Cost: $418,982,105)   450,055,887
Other Assets in Excess of Liabilities—0.1%   389,483
Net Assets—100.0%   $ 450,445,370

 

The Consolidated Schedule of Investments includes the accounts of the wholly owned subsidiary. All inter-company accounts and transactions have been eliminated in consolidation. See Note 2 of the Notes to Financial Statements.
* Non-income producing security
ADR American Depositary Receipts
GDR Global Depositary Receipts
        % of
Summary by Industry   Value   Net Assets
Airlines   $ 14,576,322       3.3 %
Automobiles     45,458,916       10.1  
Beverages     72,864,951       16.2  
Diversified Consumer Services     4,640,778       1.0  
Food & Staples Retailing     97,136,852       21.6  
Food Products     59,793,819       13.3  
Hotels, Restaurants & Leisure     24,394,610       5.4  
Household Durables     9,822,736       2.2  
Household Products     18,984,465       4.2  
Media     56,885,609       12.6  
Multiline Retail     16,869,544       3.7  
Specialty Retail     9,594,285       2.1  
Tobacco     19,033,000       4.2  
Total Investments     450,055,887       99.9  
Other Assets in Excess of Liabilities     389,483       0.1  
Net Assets   $ 450,445,370       100.0 %

 


The accompanying notes are an integral part of these financial statements.

EGA Emerging Global Shares Trust 37

 
 

Schedule of Investments (Consolidated)†

EGShares Emerging Markets Domestic Demand ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
COMMON STOCKS—99.7%    
Brazil—12.3%    
BRF—Brasil Foods SA ADR 7,800 $ 134,940
Centrais Eletricas Brasileiras SA ADR 3,340 19,806
Companhia de Bebidas das Americas    
Preference Shares ADR 6,315 241,675
Companhia de Saneamento Basico do    
Estado de Sao Paulo ADR 665 54,005
Companhia Energetica de Minas Gerais ADR 1,495 18,119
Companhia Paranaense de Energia-Copel    
Preference Shares ADR 430 7,061
CPFL Energia SA ADR 850 18,624
Telefonica Brasil SA Preference Shares ADR 6,375 138,592
Total Brazil   632,822
Chile—1.0%    
Enersis SA ADR 2,945 48,269
China—14.8%    
BYD Co., Ltd. Class H* 32,205 56,159
China Telecom Corp., Ltd. Class H 457,455 264,328
Dongfeng Motor Group Co., Ltd. Class H 99,535 116,182
Great Wall Motor Co., Ltd. Class H 39,160 103,289
Huaneng Power International, Inc. Class H 186,142 141,649
Sinopharm Group Co. Class H 24,605 78,862
Total China   760,469
India—15.2%    
Bajaj Auto, Ltd. 1,415 49,096
Bharti Airtel, Ltd. 12,435 62,582
Cipla, Ltd. 4,870 35,095
Dr Reddy’s Laboratories Ltd. 1,320 41,184
GAIL India, Ltd. 3,985 28,918
Hero Motocorp, Ltd. 1,090 38,857
ITC, Ltd. 52,461 270,933
Mahindra & Mahindra, Ltd. 4,865 79,757
Sun Pharmaceutical Industries, Ltd. 6,240 82,287
Tata Motors, Ltd. ADR 3,630 93,218
Total India   781,927
Indonesia—6.7%    
Astra International Tbk PT 221,385 171,186
Perusahaan Gas Negara PT 126,250 54,418
Telekomunikasi Indonesia Tbk PT ADR 3,005 116,985
Total Indonesia   342,589
Malaysia—4.3%    
Axiata Group BHD 42,000 89,318
Genting BHD 28,000 79,790
Tenaga Nasional BHD 22,500 50,204
Total Malaysia   219,312
Mexico—24.3%    
America Movil SAB de CV Series L ADR 9,255 235,447
Coca-Cola Femsa SAB de CV ADR 1,285 165,765
Fomento Economico Mexicano SAB de CV ADR 2,752 253,129
Grupo Elektra SA de CV 770 31,412
Grupo Modelo SAB de CV Series C 27,075 244,043
Grupo Televisa SAB ADR 6,430 151,169
Wal-Mart de Mexico SAB de CV Series V 59,510 167,784
Total Mexico   1,248,749

 

Investments Shares Value
 
Philippines—1.5%    
Philippine Long Distance Telephone Co. ADR 1,180 $ 77,892
Poland—0.9%    
PGE SA 8,125 46,921
Russia—3.1%    
Federal Hydrogenerating Co. JSC ADR 13,175 35,045
Mobile TeleSystems ADR 7,160 125,443
Total Russia   160,488
South Africa—13.1%    
Aspen Pharmacare Holdings, Ltd. 2,335 40,468
Imperial Holdings, Ltd. 1,590 36,133
MTN Group, Ltd. 12,965 251,737
Naspers, Ltd. N Shares 3,475 216,882
Steinhoff International Holdings, Ltd. 11,610 36,696
Truworths International, Ltd. 3,890 44,316
Woolworths Holdings, Ltd. 6,135 45,199
Total South Africa   671,431
Thailand—2.5%    
Advanced Info Service PCL 18,500 128,622
TOTAL INVESTMENTS IN SECURITIES—99.7%    
(Cost: $4,993,926)   5,119,491
Other Assets in Excess of Liabilities—0.3%   15,211
Net Assets—100.0%   $ 5,134,702

 

The Consolidated Schedule of Investments includes the accounts of the wholly owned subsidiary. All inter-company accounts and transactions have been eliminated in consolidation. See Note 2 of the Notes to Financial Statements.
* Non-income producing security
ADR American Depositary Receipts
        % of
Summary by Industry   Value   Net Assets
Automobiles   $ 707,744       13.8 %
Beverages     904,612       17.6  
Distributors     36,133       0.7  
Diversified Telecommunication Services     519,905       10.1  
Electric Utilities     244,049       4.7  
Food & Staples Retailing     167,784       3.3  
Food Products     134,940       2.6  
Gas Utilities     83,336       1.6  
Health Care Providers & Services     78,862       1.5  
Hotels, Restaurants & Leisure     79,790       1.6  
Household Durables     36,696       0.7  
Independent Power Producers & Energy Traders     141,649       2.8  
Media     368,051       7.2  
Multiline Retail     45,199       0.9  
Pharmaceuticals     199,034       3.9  
Specialty Retail     75,728       1.5  
Tobacco     270,933       5.3  
Water Utilities     54,005       1.0  
Wireless Telecommunication Services     971,041       18.9  
Total Investments     5,119,491       99.7  
Other Assets in Excess of Liabilities     15,211       0.3  
Net Assets   $ 5,134,702       100.0 %

 


The accompanying notes are an integral part of these financial statements.

38 EGA Emerging Global Shares Trust

 
 

Schedule of Investments (Consolidated)†

EGShares Emerging Markets Metals & Mining ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
COMMON STOCKS—99.5%    
Brazil—16.8%    
Companhia Siderurgica Nacional SA ADR 65,217 $ 367,172
Gerdau SA Preference Shares ADR 62,399 593,414
Vale SA ADR 65,337 1,169,532
Total Brazil   2,130,118
Chile—2.4%    
Capital SA 8,700 303,047
China—18.3%    
Aluminum Corp. of China, Ltd. Class H 481,827 199,486
China Coal Energy Co., Ltd. Class H 391,467 357,474
China Shenhua Energy Co., Ltd. Class H 212,019 823,109
Jiangxi Copper Co., Ltd. Class H 138,641 351,196
Yanzhou Coal Mining Co., Ltd. Class H 208,996 318,619
Zijin Mining Group Co., Ltd. Class H 668,251 269,774
Total China   2,319,658
India—12.0%    
Coal India, Ltd. 56,731 386,077
Hindalco Industries, Ltd. 100,390 229,729
Jindal Steel & Power, Ltd. 42,483 344,044
Steel Authority of India, Ltd. 84,284 136,545
Sterlite Industries India, Ltd. ADR 26,058 197,780
Tata Steel, Ltd. 29,840 226,805
Total India   1,520,980
Indonesia—1.3%    
Bumi Resources Tbk PT 2,096,090 159,890
Mexico—8.7%    
Grupo Mexico SAB de CV Series B 175,661 581,199
Industrias Penoles SAB de CV 10,511 519,122
Total Mexico   1,100,321
Poland—4.4%    
KGHM Polska Miedz SA 11,606 552,486

 

Investments Shares Value
 
Russia—10.8%    
Evraz PLC 46,884 $ 186,697
MMC Norilsk Nickel OJSC ADR 47,306 754,531
Novolipetsk Steel GDR 8,999 178,180
Severstal GDR 19,602 245,221
Total Russia   1,364,629
South Africa—23.0%    
Anglo American Platinum, Ltd. 5,809 301,322
AngloGold Ashanti, Ltd. 24,391 864,415
Gold Fields, Ltd. 52,750 682,458
Impala Platinum Holdings, Ltd. 39,113 658,903
Kumba Iron Ore, Ltd. 6,638 404,596
Total South Africa   2,911,694
Turkey—1.8%    
Eregli Demir ve Celik Fabrikalari TAS 191,635 235,862
TOTAL INVESTMENTS IN SECURITIES—99.5%    
(Cost: $17,360,386)   12,598,685
Other Assets in Excess of Liabilities—0.5%   64,417
Net Assets—100.0%   $ 12,663,102

 

The Consolidated Schedule of Investments includes the accounts of the wholly owned subsidiary. All inter-company accounts and transactions have been eliminated in consolidation. See Note 2 of the Notes to Financial Statements.
ADR American Depositary Receipts
GDR Global Depositary Receipts
        % of
Summary by Industry   Value   Net Assets
Metals & Mining   $ 10,553,516       83.3 %
Oil, Gas & Consumable Fuels     2,045,169       16.2  
Total Investments     12,598,685       99.5  
Other Assets in Excess of Liabilities     64,417       0.5  
Net Assets   $ 12,663,102       100.0 %

 


The accompanying notes are an integral part of these financial statements.

EGA Emerging Global Shares Trust 39

 
 

Schedule of Investments (Consolidated)†

EGShares Energy GEMS ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
COMMON STOCKS—99.7%    
Brazil—7.4%    
Petroleo Brasileiro SA ADR 38,297 $ 878,533
Chile—2.9%    
Empresas Copec SA 23,748 349,887
China—21.8%    
China Oilfield Services, Ltd. Class H 99,914 181,961
China Petroleum & Chemical Corp. Class H 575,756 537,642
CNOOC, Ltd. 410,508 841,851
Kunlun Energy Co., Ltd. 167,958 294,182
PetroChina Co., Ltd. Class H 576,324 755,225
Total China   2,610,861
Colombia—4.3%    
Ecopetrol SA ADR 8,655 510,039
Hungary—1.8%    
MOL Hungarian Oil and Gas PLC 2,549 211,318
India—15.3%    
Bharat Petroleum Corp., Ltd. 16,160 106,835
Cairn India, Ltd.* 30,296 190,151
GAIL India, Ltd. 23,594 171,212
Indian Oil Corp., Ltd. 36,367 172,717
Oil & Natural Gas Corp., Ltd. 85,807 456,894
Reliance Industries, Ltd. GDR 144A 23,346 734,932
Total India   1,832,741
Malaysia—1.2%    
Petronas Dagangan BHD 20,000 147,227
Poland—3.4%    
Polski Koncern Naftowy Orlen SA* 18,632 264,630
Polskie Gornictwo Naftowe i Gazownictwo SA* 115,133 146,273
Total Poland   410,903
Russia—30.0%    
Gazprom Neft JSC ADR 943 23,170
Gazprom OAO ADR 112,038 1,123,741
LUKOIL OAO ADR 13,050 803,880
NovaTek OAO GDR 4,447 526,080
Rosneft Oil Co. OJSC GDR 49,772 334,468
Surgutneftegas ADR 40,704 367,150
Tatneft ADR 9,780 405,577
Total Russia   3,584,066

 

Investments Shares Value
 
South Africa—4.5%    
Sasol, Ltd. 11,805 $ 532,639
Thailand—5.5%    
PTT Exploration & Production PCL 38,865 205,184
PTT PCL 30,589 326,958
Thai Oil PCL 57,986 122,924
Total Thailand   655,066
Turkey—1.6%    
Tupras-Turkiye Petrol Rafinerileri AS 8,388 191,528
TOTAL INVESTMENTS IN SECURITIES—99.7%    
(Cost: $13,405,515)   11,914,808
Other Assets in Excess of Liabilities—0.3%   39,465
Net Assets—100.0%   $ 11,954,273

 

The Consolidated Schedule of Investments includes the accounts of the wholly owned subsidiary. All inter-company accounts and transactions have been eliminated in consolidation. See Note 2 of the Notes to Financial Statements.
* Non-income producing security
ADR American Depositary Receipts
GDR Global Depositary Receipts
144A Series 144A securities were purchased pursuant to Rule 144A under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. Unless otherwise noted, Series 144A securities are deemed to be liquid.
        % of
Summary by Industry   Value   Net Assets
Energy Equipment & Services   $ 181,961       1.5 %
Gas Utilities     171,212       1.5  
Industrial Conglomerates     349,887       2.9  
Oil, Gas & Consumable Fuels     11,211,748       93.8  
Total Investments     11,914,808       99.7  
Other Assets in Excess of Liabilities     39,465       0.3  
Net Assets   $ 11,954,273       100.0 %

 


The accompanying notes are an integral part of these financial statements.

40 EGA Emerging Global Shares Trust

 
 

Schedule of Investments (Consolidated)†

EGShares Financials GEMS ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
COMMON STOCKS—100.1%    
Brazil—14.3%    
Banco Bradesco SA Preference Shares ADR 15,362 $ 246,867
Banco Santander Brasil SA ADS ADR 6,454 47,566
Itau Unibanco Holding SA Preference Shares ADR 17,488 267,217
Total Brazil   561,650
China—41.4%    
Agricultural Bank of China, Ltd. Class H 237,604 92,550
Bank of China, Ltd. Class H 564,130 214,643
Bank of Communications Co., Ltd. Class H 75,565 51,265
China Citic Bank Corp., Ltd. Class H 89,953 42,695
China Construction Bank Corp. Class H 584,279 405,433
China Life Insurance Co., Ltd. Class H 58,282 168,383
China Merchants Bank Co., Ltd. Class H 37,393 62,987
China Overseas Land & Investment, Ltd. 37,062 94,265
Industrial and Commercial Bank of China, Ltd. Class H 609,342 359,951
Ping An Insurance Group Co. of China, Ltd. Class H 17,257 130,431
Total China   1,622,603
India—12.7%    
HDFC Bank, Ltd. ADR 3,480 130,778
Housing Development Finance Corp., Ltd. 13,035 191,379
ICICI Bank, Ltd. ADR 2,748 110,305
State Bank of India GDR 747 64,354
Total India   496,816
Indonesia—2.8%    
Bank Central Asia Tbk PT 133,095 109,870
Malaysia—3.6%    
CIMB Group Holdings BHD 26,200 64,289
Malayan Banking BHD 25,600 75,464
Total Malaysia   139,753
Mexico—2.6%    
Grupo Financiero Banorte SAB de CV Class O 17,834 100,910
Poland—2.1%    
Powszechna Kasa Oszczednosci Bank Polski SA 7,420 82,456

 

Investments Shares Value  
       
Russia—6.7%      
Sberbank of Russia ADR 18,299 $ 214,647  
VTB Bank OJSC GDR 14,634 48,731  
Total Russia   263,378  
South Africa—9.4%      
ABSA Group, Ltd. 3,166 53,143  
FirstRand, Ltd. 26,840 90,723  
Sanlam, Ltd. 18,572 84,564  
Standard Bank Group, Ltd. 10,887 139,374  
Total South Africa   367,804  
Turkey—4.5%      
Akbank TAS 21,174 83,726  
Turkiye Garanti Bankasi AS 22,077 92,213  
Total Turkey   175,939  
TOTAL INVESTMENTS IN SECURITIES—100.1%      
(Cost: $4,388,284)   3,921,179  
Liabilities in Excess of Other Assets—(0.1)%   (2,234 )
Net Assets—100.0%   $ 3,918,945  

 

The Consolidated Schedule of Investments includes the accounts of the wholly owned subsidiary. All inter-company accounts and transactions have been eliminated in consolidation. See Note 2 of the Notes to Financial Statements.
ADR American Depositary Receipts
ADS American Depository Shares
GDR Global Depositary Receipts
        % of
Summary by Industry   Value   Net Assets
Commercial Banks   $ 3,161,434       80.7 %
Diversified Financial Services     90,723       2.3  
Insurance     383,378       9.8  
Real Estate Management & Development     94,265       2.4  
Thrifts & Mortgage Finance     191,379       4.9  
Total Investments     3,921,179       100.1  
Liabilities in Excess of Other Assets     (2,234 )     (0.1 )
Net Assets   $ 3,918,945       100.0 %

 


The accompanying notes are an integral part of these financial statements.

EGA Emerging Global Shares Trust 41

 
 

Schedule of Investments (Consolidated)†

EGShares GEMS Composite ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
COMMON STOCKS—99.6%    
Brazil—16.4%    
Banco Bradesco SA Preference Shares ADR 19,307 $ 310,263
BRF—Brasil Foods SA ADR 7,278 125,909
Companhia Brasileira de Distribuicao Grupo    
Pao de Acucar Preference Shares ADR 1,450 65,409
Companhia de Bebidas das Americas    
Preference Shares ADR 7,756 296,822
Companhia de Saneamento Basico do    
Estado de Sao Paulo ADR 534 43,366
Companhia Energetica de Minas Gerais    
Preference Shares ADR 5,696 69,035
Companhia Siderurgica Nacional SA ADR 8,431 47,466
Embraer SA ADR 1,564 41,634
Gerdau SA Preference Shares ADR 6,968 66,266
Itau Unibanco Holding SA Preference Shares ADR 22,993 351,333
Petroleo Brasileiro SA ADR 16,756 384,383
Telefonica Brasil SA Preference Shares ADR 2,800 60,872
Ultrapar Participacoes SA ADR 4,813 107,378
Vale SA ADR 13,091 234,329
Total Brazil   2,204,465
Chile—2.2%    
Cencosud SA 9,742 58,984
Empresa Nacional de Electricidad SA ADR 1,320 63,307
Enersis SA ADR 2,976 48,777
S.A.C.I. Falabella 12,112 122,248
Total Chile   293,316
China—27.8%    
Baidu, Inc. ADR* 2,789 325,811
Bank of China, Ltd. Class H 662,623 252,119
China Communications Construction Co., Ltd. Class H 48,000 38,817
China Construction Bank Corp. Class H 834,198 578,852
China Life Insurance Co., Ltd. Class H 75,500 218,128
China Mobile, Ltd. 52,500 581,998
China Petroleum & Chemical Corp. Class H 162,280 151,537
China Shenhua Energy Co., Ltd. Class H 32,270 125,280
China Telecom Corp., Ltd. Class H 154,000 88,984
China Unicom Hong Kong, Ltd. 34,500 56,601
CNOOC, Ltd. 164,300 336,939
Dongfeng Motor Group Co., Ltd. Class H 26,000 30,349
Industrial and Commercial Bank of China, Ltd. Class H 831,793 491,357
Lenovo Group, Ltd. 49,700 41,154
Mindray Medical International, Ltd. ADR 1,101 37,005
NetEase.com, Inc. ADR* 641 35,986
PetroChina Co., Ltd. Class H 212,371 278,295
Shandong Weigao Group Medical Polymer Co., Ltd. Class H 19,600 25,330
SINA Corp.* 348 22,509
Sinopharm Group Co. Class H 2,400 7,692
Sohu.com, Inc.* 418 17,593
ZTE Corp. Class H 2,400 3,851
Total China   3,746,187
Czech Republic—0.5%    
CEZ AS 1,707 63,610
Egypt—0.3%    
Orascom Construction Industries 967 45,661

 

Investments Shares Value
 
Hungary—0.2%    
Richter Gedeon Nyrt. 149 $ 26,090
India—10.9%    
Bharti Airtel, Ltd. 8,386 42,204
Cipla, Ltd. 2,191 15,789
Dr. Reddy’s Laboratories, Ltd. ADR 1,425 43,975
HDFC Bank, Ltd. ADR 4,462 167,682
Hindustan Unilever, Ltd. 10,530 108,973
Housing Development Finance Corp., Ltd. 15,414 226,308
Infosys, Ltd. ADR 4,986 242,020
ITC, Ltd. 18,658 96,359
Mahindra & Mahindra, Ltd. 1,843 30,214
NTPC, Ltd. 5,480 17,465
Reliance Industries, Ltd. GDR 144A 8,655 272,459
Sun Pharmaceutical Industries, Ltd. 4,003 52,788
Tata Consultancy Services, Ltd. 3,356 82,454
Tata Motors, Ltd. ADR 1,304 33,487
Wipro, Ltd. ADR 3,283 29,383
Total India   1,461,560
Indonesia—2.5%    
Astra International Tbk PT 195,271 150,993
Perusahaan Gas Negara PT 139,500 60,129
Telekomunikasi Indonesia Tbk PT 91,500 90,353
United Tractors Tbk PT 17,378 37,589
Total Indonesia   339,064
Malaysia—2.0%    
Genting BHD 26,400 75,231
IOI Corp. BHD 28,493 46,424
Sime Darby BHD 26,500 84,966
Tenaga Nasional BHD 25,300 56,452
Total Malaysia   263,073
Mexico—10.4%    
America Movil SAB de CV Series L 525,390 670,158
Cemex SAB de CV Series CPO* 117,479 97,859
Fomento Economico Mexicano SAB de CV Series UB 17,800 164,097
Grupo Bimbo SAB de CV Series A 28,600 71,471
Grupo Mexico SAB de CV Series B 36,067 119,333
Grupo Televisa SAB Series CPO 22,500 106,224
Wal-Mart de Mexico SAB de CV Series V 59,078 166,566
Total Mexico   1,395,708
Poland—0.1%    
Asseco Poland SA 782 10,907
Russia—13.0%    
Federal Hydrogenerating Co. JSC ADR 6,554 17,434
Gazprom OAO ADR 62,427 626,143
LUKOIL OAO ADR 5,288 325,741
Magnit OJSC GDR 2,549 86,640
MMC Norilsk Nickel OJSC ADR 6,628 105,716
Mobile TeleSystems ADR 4,929 86,356
Rosneft Oil Co. OJSC GDR 9,081 61,024
Sberbank of Russia ADR 21,865 256,476
Surgutneftegas ADR 9,470 85,419
Uralkali OJSC GDR 2,500 103,425
Total Russia   1,754,374

 


The accompanying notes are an integral part of these financial statements.

42 EGA Emerging Global Shares Trust

 
 

Schedule of Investments (Consolidated)† (concluded)

EGShares GEMS Composite ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
South Africa—12.4%    
AngloGold Ashanti, Ltd. 3,932 $ 139,350
Aspen Pharmacare Holdings, Lt.* 3,566 61,802
Bidvest Group, Ltd. 2,635 65,786
Gold Fields, Ltd. 7,789 100,771
Impala Platinum Holdings, Ltd. 5,838 98,348
Imperial Holdings, Ltd. 2,145 48,746
Mediclinic International, Ltd. 4,000 19,876
MTN Group, Ltd. 15,956 309,813
Naspers, Ltd. N Shares 4,309 268,933
Netcare, Ltd. 14,050 30,480
Sasol, Ltd. 5,061 228,351
Shoprite Holdings, Ltd. 3,494 71,285
Standard Bank Group, Ltd. 13,548 173,440
Tiger Brands, Ltd. 1,617 53,524
Total South Africa   1,670,505
Thailand—0.9%    
Advanced Info Service PCL 11,600 80,650
CP ALL PCL 33,000 38,060
Total Thailand   118,710
TOTAL COMMON STOCKS    
(Cost: $14,633,129)   13,393,230
RIGHTS—0.0%**    
South Africa—0.0%    
Mediclinic International Ltd.,expiring 10/5/12*    
(Cost: $0) 1,070 1,589
TOTAL INVESTMENTS IN SECURITIES—99.6%    
(Cost: $14,633,129)   13,394,819
Other Assets in Excess of Liabilities—0.4%   56,378
Net Assets—100.0%   $ 13,451,197

 

The Consolidated Schedule of Investments includes the accounts of the wholly owned subsidiary. All inter-company accounts and transactions have been eliminated in consolidation. See Note 2 of the Notes to Financial Statements.
* Non-income producing security
** Less than 0.05%
ADR American Depositary Receipts
GDR Global Depositary Receipts
144A Series 144A securities were purchased pursuant to Rule 144A under the Securities Act of 1933 and may not be resold subject to that rule except to qualified institutional buyers. Unless otherwise noted, Series 144A securities are deemed to be liquid.
        % of
Summary by Industry   Value   Net Assets
Aerospace & Defense   $ 41,634       0.3 %
Automobiles     245,043       1.8  
Beverages     460,919       3.4  
Chemicals     103,425       0.8  
Commercial Banks     2,581,522       19.2  
Communications Equipment     3,851       0.0 **
Computers & Peripherals     41,154       0.3  
Construction & Engineering     84,478       0.6  
Construction Materials     97,859       0.7  
Distributors     48,746       0.4  
Diversified Telecommunication Services     296,810       2.2  
Electric Utilities     255,308       1.9  
Food & Staples Retailing     486,944       3.6  
Food Products     297,328       2.2  
Gas Utilities     60,129       0.5  
Health Care Equipment & Supplies     63,924       0.5  
Health Care Providers & Services     58,048       0.4  
Hotels, Restaurants & Leisure     75,231       0.6  
Household Products     108,973       0.8  
Independent Power Producers & Energy Traders     80,772       0.6  
Industrial Conglomerates     150,752       1.1  
Insurance     218,128       1.6  
Internet Software & Services     401,899       3.0  
IT Services     353,857       2.6  
Machinery     37,589       0.3  
Media     375,157       2.8  
Metals & Mining     911,579       6.8  
Multiline Retail     122,248       0.9  
Oil, Gas & Consumable Fuels     2,982,949       22.2  
Pharmaceuticals     200,444       1.5  
Software     10,907       0.1  
Thrifts & Mortgage Finance     226,308       1.7  
Tobacco     96,359       0.7  
Water Utilities     43,366       0.3  
Wireless Telecommunication Services     1,771,179       13.2  
Total Investments     13,394,819       99.6  
Other Assets in Excess of Liabilities     56,378       0.4  
Net Assets   $ 13,451,197       100.0 %

 

** Less than 0.05%

The accompanying notes are an integral part of these financial statements.

EGA Emerging Global Shares Trust 43

 
 

Schedule of Investments (Consolidated)†

EGShares Health Care GEMS ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
COMMON STOCKS—100.3%    
Chile—1.3%    
Banmedica SA 13,138 $ 26,356
China—20.3%    
China Pharmaceutical Group, Ltd.* 26,726 7,653
Mindray Medical International, Ltd. ADR 3,437 115,518
Shandong Weigao Group Medical Polymer Co., Ltd. Class H 78,645 101,638
Shanghai Pharmaceuticals Holding Co., Ltd. Class H 30,700 56,940
Sinopharm Group Co. Class H 30,125 96,554
WuXi PharmaTech Cayman, Inc. ADR* 3,443 51,404
Total China   429,707
Hungary—5.2%    
EGIS Pharmaceuticals PLC 201 15,965
Richter Gedeon Nyrt. 531 92,979
Total Hungary   108,944
India—31.1%    
Apollo Hospitals Enterprise, Ltd. 4,309 59,739
Aurobindo Pharma, Ltd. 6,001 16,156
Biocon, Ltd. 3,172 16,526
Cipla, Ltd. 14,209 102,395
Divi’s Laboratories, Ltd. 1,856 38,095
Dr. Reddy’s Laboratories, Ltd. ADR 3,365 103,844
Glenmark Pharmaceuticals, Ltd. 5,075 40,503
Piramal Healthcare, Ltd. 4,336 38,160
Ranbaxy Laboratories, Ltd.* 5,696 57,208
Sun Pharmaceutical Industries, Ltd. 14,046 185,225
Total India   657,851
Indonesia—4.1%    
Kalbe Farma Tbk PT 177,000 86,928
Malaysia—1.3%    
Top Glove Corp. BHD 17,000 27,253
Mexico—3.0%    
Genomma Lab Internacional SAB de CV Class B* 32,515 62,995
Russia—2.0%    
Pharmstandard OJSC GDR* 2,972 42,202

 

Investments Shares Value  
       
South Africa—27.6%      
Adcock Ingram Holdings, Ltd. 6,556 $ 47,189  
Aspen Pharmacare Holdings, Ltd. 12,305 213,257  
Life Healthcare Group Holdings, Ltd. 39,509 152,029  
Mediclinic International, Ltd. 14,158 70,351  
Netcare, Ltd. 46,653 101,209  
Total South Africa   584,035  
Thailand—4.4%      
Bangkok Dusit Medical Services PCL 14,200 49,594  
Bumrungrad Hospital PCL 16,300 43,424  
Total Thailand   93,018  
TOTAL COMMON STOCKS      
(Cost: $1,907,783)   2,119,289  
RIGHTS—0.3%      
South Africa—0.3%      
Mediclinic International Ltd.,expiring 10/5/12*      
(Cost: $0) 4,709 6,991  
TOTAL INVESTMENTS IN SECURITIES—100.6%      
(Cost: $1,907,783)   2,126,280  
Liabilities in Excess of Other Assets—(0.6)%   (12,631 )
Net Assets—100.0%   $ 2,113,649  

 

The Consolidated Schedule of Investments includes the accounts of the wholly owned subsidiary. All inter-company accounts and transactions have been eliminated in consolidation. See Note 2 of the Notes to Financial Statements.
* Non-income producing security
ADR American Depositary Receipts
GDR Global Depositary Receipts
        % of
Summary by Industry   Value   Net Assets
Biotechnology   $ 16,526       0.8 %
Health Care Equipment & Supplies     251,400       11.9  
Health Care Providers & Services     656,196       31.1  
Life Sciences Tools & Services     89,499       4.2  
Pharmaceuticals     1,112,659       52.6  
Total Investments     2,126,280       100.6  
Liabilities in Excess of Other Assets     (12,631 )     (0.6 )
Net Assets   $ 2,113,649       100.0 %

 


The accompanying notes are an integral part of these financial statements.

44 EGA Emerging Global Shares Trust

 
 

Schedule of Investments (Consolidated)†

EGShares India Consumer ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
COMMON STOCKS—101.2%    
Automobiles—17.7%    
Bajaj Auto, Ltd. 2,646 $ 91,809
Hero Motocorp, Ltd. 2,388 85,130
Mahindra & Mahindra, Ltd. 6,666 109,282
Tata Motors, Ltd. 17,788 90,230
TVS Motor Co., Ltd. 17,032 13,659
Total Automobiles   390,110
Beverages—13.8%    
United Breweries, Ltd. 10,367 128,455
United Spirits, Ltd. 7,628 175,873
Total Beverages   304,328
Food Products—18.3%    
GlaxoSmithKline Consumer Healthcare, Ltd. 1,855 105,564
McLeod Russel India, Ltd. 6,772 41,496
Nestle India, Ltd. 1,116 93,138
Ruchi Soya Industries, Ltd. 18,566 26,241
Shree Renuka Sugars, Ltd. 50,989 34,850
Tata Global Beverages, Ltd. 37,693 102,085
Total Food Products   403,374
Hotels, Restaurants & Leisure—7.6%    
Cox & Kings, Ltd. 7,028 18,501
Indian Hotels Co., Ltd. 55,741 71,123
Jubilant Foodworks, Ltd.* 3,031 78,882
Total Hotels, Restaurants & Leisure   168,506
Household Durables—2.6%    
TTK Prestige, Ltd. 307 21,713
Videocon Industries, Ltd. 10,874 35,346
Total Household Durables   57,059

 

Investments Shares Value  
       
Household Products—5.9%      
Hindustan Unilever, Ltd. 12,545 $ 129,826  
Media—13.3%      
Dish TV India, Ltd.* 41,850 65,499  
Hathway Cable & Datacom, Ltd.* 5,618 24,125  
Sun TV Network, Ltd. 15,013 99,351  
Zee Entertainment Enterprises, Ltd. 28,262 104,673  
Total Media   293,648  
Multiline Retail—1.0%      
Shoppers Stop, Ltd. 3,065 23,261  
Personal Products—5.7%      
Godrej Consumer Products, Ltd. 9,888 125,407  
Textiles, Apparel & Luxury Goods—9.9%      
Arvind, Ltd. 14,197 21,506  
Bata India, Ltd. 3,452 63,961  
Raymond, Ltd. 3,761 28,041  
Titan Industries, Ltd. 21,019 104,069  
Total Textiles, Apparel & Luxury Goods   217,577  
Tobacco—5.4%      
ITC, Ltd. 23,233 119,986  
TOTAL INVESTMENTS IN SECURITIES—101.2%      
(Cost: $1,836,174)   2,233,082  
Liabilities in Excess of Other Assets—(1.2)%   (25,392 )
Net Assets—100.0%   $ 2,207,690  

 

The Consolidated Schedule of Investments includes the accounts of the wholly owned subsidiary. All inter-company accounts and transactions have been eliminated in consolidation. See Note 2 of the Notes to Financial Statements.
* Non-income producing security

The accompanying notes are an integral part of these financial statements.

EGA Emerging Global Shares Trust 45

 
 

Schedule of Investments (Consolidated)†

EGShares India Infrastructure ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
COMMON STOCKS—99.7%    
Automobiles—4.7%    
Tata Motors, Ltd. 551,835 $ 2,799,193
Construction & Engineering—5.5%    
IRB Infrastructure Developers, Ltd. 115,138 331,913
Larsen & Toubro, Ltd. 96,778 2,929,853
Total Construction & Engineering   3,261,766
Construction Materials—10.2%    
ACC, Ltd. 109,925 3,063,707
Ambuja Cements, Ltd. 788,632 3,020,261
Total Construction Materials   6,083,968
Electric Utilities—13.4%    
Power Grid Corp. of India, Ltd. 1,184,394 2,705,839
Reliance Infrastructure, Ltd. 223,966 2,282,759
Tata Power Co., Ltd. 1,466,151 2,972,886
Total Electric Utilities   7,961,484
Electrical Equipment—5.0%    
Bharat Heavy Electricals, Ltd. 638,969 2,991,628
Gas Utilities—5.9%    
GAIL India, Ltd. 407,046 2,953,775
Indraprastha Gas, Ltd. 108,414 544,177
Total Gas Utilities   3,497,952
Independent Power Producers & Energy Traders—9.9%  
Adani Power, Ltd.* 548,098 550,228
GMR Infrastructure, Ltd.* 1,727,878 812,425
NTPC, Ltd. 879,575 2,803,234
Reliance Power, Ltd.* 915,905 1,705,221
Total Independent Power Producers & Energy Traders 5,871,108
Industrial Conglomerates—4.8%    
Jaiprakash Associates, Ltd. 1,828,580 2,851,468

 

Investments Shares Value
 
Machinery—3.2%    
Ashok Leyland, Ltd. 2,615,664 $ 1,195,137
Pipavav Defence & Offshore Engineering Co., Ltd.* 465,526 692,398
Total Machinery   1,887,535
Media—1.5%    
Dish TV India, Ltd.* 586,773 918,345
Metals & Mining—13.5%    
Jindal Steel & Power, Ltd. 352,630 2,855,738
Sterlite Industries India, Ltd. 1,313,992 2,480,006
Tata Steel, Ltd. 356,848 2,712,302
Total Metals & Mining   8,048,046
Oil, Gas & Consumable Fuels—1.9%    
Petronet LNG, Ltd. 385,270 1,153,728
Real Estate Management & Development—7.3%    
DLF, Ltd. 585,792 2,590,501
Housing Development & Infrastructure, Ltd.* 408,751 754,808
Unitech, Ltd.* 2,149,759 990,410
Total Real Estate Management & Development   4,335,719
Transportation Infrastructure—2.8%    
Adani Ports and Special Economic Zone, Ltd. 682,855 1,650,659
Wireless Telecommunication Services—10.1%    
Bharti Airtel, Ltd. 541,054 2,722,965
Idea Cellular, Ltd.* 1,176,232 1,902,220
Reliance Communications, Ltd. 1,096,565 1,347,187
Total Wireless Telecommunication Services   5,972,372
TOTAL INVESTMENTS IN SECURITIES—99.7%    
(Cost: $73,868,745)   59,284,971
Other Assets in Excess of Liabilities—0.3%   166,320
Net Assets—100.0%   $ 59,451,291

 

The Consolidated Schedule of Investments includes the accounts of the wholly owned subsidiary. All inter-company accounts and transactions have been eliminated in consolidation. See Note 2 of the Notes to Financial Statements.
* Non-income producing security

The accompanying notes are an integral part of these financial statements.

46 EGA Emerging Global Shares Trust

 
 

Schedule of Investments (Consolidated)†

EGShares India Small Cap ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
COMMON STOCKS—99.8%    
Auto Components—4.9%    
Amtek Auto, Ltd. 122,617 $ 205,853
Apollo Tyres, Ltd. 216,028 379,467
Bharat Forge, Ltd. 107,574 623,173
Total Auto Components   1,208,493
Automobiles—0.5%    
TVS Motor Co., Ltd. 151,027 121,119
Biotechnology—1.3%    
Biocon, Ltd. 61,522 320,528
Building Products—0.7%    
Sintex Industries, Ltd. 140,306 177,161
Chemicals—6.1%    
Chambal Fertilizers & Chemicals, Ltd. 184,454 258,260
Godrej Industries, Ltd. 59,192 322,192
Nagarjuna Fertilizers & Chemicals, Ltd.* + 582,385 184,945
Tata Chemicals, Ltd. 15,641 95,145
United Phosphorus, Ltd. 261,031 651,526
Total Chemicals   1,512,068
Commercial Banks—12.0%    
Allahabad Bank 157,484 438,161
Dena Bank, Ltd. 109,025 219,311
Development Credit Bank, Ltd.* 161,492 134,564
Federal Bank, Ltd. 131,423 1,113,651
Oriental Bank of Commerce 98,851 565,706
UCO Bank 196,925 287,108
Vijaya Bank, Ltd. 182,448 194,572
Total Commercial Banks   2,953,073
Construction & Engineering—5.2%    
IRB Infrastructure Developers, Ltd. 94,886 273,531
IVRCL, Ltd.* 174,114 153,334
Lanco Infratech, Ltd.* 533,756 152,299
Praj Industries, Ltd. 97,000 87,998
Punj Lloyd, Ltd. 169,906 175,882
Voltas, Ltd. 181,411 429,753
Total Construction & Engineering   1,272,797
Construction Materials—1.1%    
Century Textiles & Industries, Ltd. 40,726 277,349
Diversified Consumer Services—0.5%    
Educomp Solutions, Ltd. 36,837 112,198
Diversified Financial Services—4.9%    
IFCI, Ltd. 584,139 343,318
Indiabulls Financial Services, Ltd. 162,567 659,422
L&T Finance Holdings, Ltd.* 232,421 212,834
Total Diversified Financial Services   1,215,574
Electrical Equipment—4.5%    
Alstom T&D India, Ltd. 48,168 195,064
Crompton Greaves, Ltd. 296,104 707,910
Suzlon Energy, Ltd.* 654,168 220,144
Total Electrical Equipment   1,123,118
Energy Equipment & Services—0.5%    
Aban Offshore, Ltd. 16,175 134,258

 

Investments Shares Value
 
Food Products—5.9%    
Bajaj Hindusthan, Ltd. 319,330 $ 192,524
Ruchi Soya Industries, Ltd. 129,678 183,288
Shree Renuka Sugars, Ltd. 330,242 225,713
Tata Global Beverages, Ltd. 317,310 859,375
Total Food Products   1,460,900
Gas Utilities—1.7%    
Gujarat State Petronet, Ltd. 274,968 420,702
Health Care Providers & Services—4.2%    
Apollo Hospitals Enterprise, Ltd. 74,136 1,027,812
Hotels, Restaurants & Leisure—2.8%    
Cox & Kings, Ltd. 42,644 112,259
Jubilant Foodworks, Ltd.* 22,520 586,088
Total Hotels, Restaurants & Leisure   698,347
Household Durables—0.6%    
TTK Prestige, Ltd. 2,033 143,786
Independent Power Producers & Energy Traders—0.7%    
GVK Power & Infrastructure, Ltd.* 574,620 159,057
Industrial Conglomerates—2.2%    
Max India, Ltd.* 127,483 542,126
IT Services—7.2%    
Core Education & Technologies, Ltd. 50,272 313,479
Hexaware Technologies, Ltd. 165,408 381,964
Mphasis, Ltd. 66,667 508,613
Tech Mahindra, Ltd. 30,788 567,400
Total IT Services   1,771,456
Machinery—4.5%    
ABG Shipyard, Ltd.* 15,182 108,097
Ashok Leyland, Ltd. 957,161 437,342
Escorts, Ltd. 106,120 128,664
Pipavav Defence & Offshore Engineering Co., Ltd.* 298,820 444,448
Total Machinery   1,118,551
Media—1.4%    
Dish TV India, Ltd.* 222,124 347,641
Metals & Mining—3.4%    
Bhushan Steel, Ltd. 49,147 464,775
Orissa Minerals Development Co., Ltd. 230 197,882
Welspun Corp., Ltd. 93,500 179,661
Total Metals & Mining   842,318
Oil, Gas & Consumable Fuels—1.0%    
Essar Oil, Ltd.* 136,013 130,610
Hindustan Oil Exploration Co., Ltd.* 55,452 122,269
Total Oil, Gas & Consumable Fuels   252,879
Pharmaceuticals—9.4%    
Aurobindo Pharma, Ltd. 102,821 276,814
Glenmark Pharmaceuticals, Ltd. 109,522 874,079
Orchid Chemicals & Pharmaceuticals, Ltd. 39,950 85,096
Strides Arcolab, Ltd. 32,521 545,511
Wockhardt, Ltd.* 22,150 543,787
Total Pharmaceuticals   2,325,287

 


The accompanying notes are an integral part of these financial statements.

EGA Emerging Global Shares Trust 47

 
 

Schedule of Investments (Consolidated)† (concluded)

EGShares India Small Cap ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
Real Estate Management & Development—5.3%    
Delta Corp., Ltd. 101,988 $ 136,706
Housing Development & Infrastructure, Ltd.* 198,069 365,758
Indiabulls Real Estate, Ltd.* 224,757 245,658
Parsvnath Developers, Ltd.* 105,151 79,942
Unitech, Ltd.* 1,067,616 491,859
Total Real Estate Management & Development   1,319,923
Software—1.7%    
Financial Technologies India, Ltd. 22,770 421,080

 

Investments Shares Value
 
Textiles, Apparel & Luxury Goods—5.6%    
Alok Industries, Ltd. 475,912 $ 113,688
Arvind, Ltd. 126,265 191,271
Bata India, Ltd. 22,998 426,125
Bombay Dyeing & Manufacturing Co., Ltd. 15,198 142,039
Gitanjali Gems, Ltd. 32,301 213,207
Raymond, Ltd. 28,386 211,637
VIP Industries, Ltd. 54,863 96,162
Total Textiles, Apparel & Luxury Goods   1,394,129
TOTAL INVESTMENTS IN SECURITIES—99.8%    
(Cost: $24,681,695)   24,673,730
Other Assets in Excess of Liabilities—0.2%   50,390
Net Assets—100.0%   $ 24,724,120

 

The Consolidated Schedule of Investments includes the accounts of the wholly owned subsidiary. All inter-company accounts and transactions have been eliminated in consolidation. See Note 2 of the Notes to Financial Statements.
* Non-income producing security
+ Fair valued security. When trading resumes, security is expected to increase to 640,623 shares.

The accompanying notes are an integral part of these financial statements.

48 EGA Emerging Global Shares Trust

 
 

Schedule of Investments (Consolidated)†

EGShares Industrials GEMS ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
COMMON STOCKS—100.1%    
Brazil—3.9%    
Embraer SA ADR 4,137 $ 110,127
China—22.6%    
Anhui Conch Cement Co., Ltd. Class H 33,535 104,456
Beijing Enterprises Holdings, Ltd. 12,444 82,979
China Communications Construction Co., Ltd. Class H 107,609 87,023
China Merchants Holdings International Co., Ltd. 28,093 86,599
China National Building Material Co., Ltd. Class H 67,320 74,412
China Railway Construction Corp., Ltd. Class H 44,200 39,564
China Railway Group, Ltd. Class H 98,725 43,166
Citic Pacific, Ltd. 34,014 40,844
Weichai Power Co., Ltd. Class H 12,148 37,212
Zoomlion Heavy Industry Science And    
Technology Co., Ltd. Class H 34,547 39,256
Total China   635,511
Colombia—3.5%    
Inversiones Argos SA 8,793 97,065
Egypt—3.7%    
Orascom Construction Industries 2,226 105,108
India—18.4%    
Adani Enterprises, Ltd. 3,855 14,702
Ambuja Cements, Ltd. 15,661 59,978
Bharat Heavy Electricals, Ltd. 14,296 66,933
Larsen & Toubro, Ltd. 3,859 116,827
Mahindra & Mahindra, Ltd. 8,137 133,398
Tata Motors, Ltd. ADR 4,898 125,780
Total India   517,618
Indonesia—10.2%    
Indocement Tunggal Prakarsa Tbk PT 45,738 97,259
Semen Gresik Persero Tbk PT 75,406 113,857
United Tractors Tbk PT 35,760 77,349
Total Indonesia   288,465
Malaysia—7.0%    
Sime Darby Bhd 61,800 198,148

 

Investments Shares Value  
       
Mexico—14.6%      
Alfa, SAB Class A 73,210 $ 136,430  
Cemex SAB de CV ADR* 27,291 227,334  
Grupo Carso SAB de CV Series A1 13,985 47,848  
Total Mexico   411,612  
Philippines—2.5%      
Aboitiz Equity Ventures, Inc. 60,700 71,082  
South Africa—10.6%      
Bidvest Group, Ltd. 6,907 172,442  
Imperial Holdings, Ltd. 5,522 125,489  
Total South Africa   297,931  
Thailand—3.1%      
Siam Cement PCL 7,600 86,173  
TOTAL INVESTMENTS IN SECURITIES—100.1%      
(Cost: $2,731,072)   2,818,840  
Liabilities in Excess of Other Assets—(0.1)%   (2,651 )
Net Assets—100.0%   $ 2,816,189  

 

The Consolidated Schedule of Investments includes the accounts of the wholly-owned subsidiary. All inter-company accounts and transactions have been eliminated in consolidation. See Note 2 of the Notes to Financial Statements.
* Non-income producing security
ADR American Depositary Receipts
        % of
Summary by Industry   Value   Net Assets
Aerospace & Defense   $ 110,127       3.9 %
Automobiles     259,178       9.2  
Construction & Engineering     391,688       13.9  
Construction Materials     860,534       30.6  
Distributors     125,489       4.4  
Electrical Equipment     66,933       2.4  
Industrial Conglomerates     749,773       26.6  
Machinery     153,817       5.5  
Trading Companies & Distributors     14,702       0.5  
Transportation Infrastructure     86,599       3.1  
Total Investments     2,818,840       100.1  
Liabilities in Excess of Other Assets     (2,651 )     (0.1 )
Net Assets   $ 2,816,189       100.0 %

 


The accompanying notes are an integral part of these financial statements.

EGA Emerging Global Shares Trust 49

 
 

Schedule of Investments (Consolidated)†

EGShares Low Volatility Emerging Markets Dividend ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
COMMON STOCKS—100.9%    
Brazil—2.2%    
Companhia Paranaense de Energia-Copel Preference Shares ADR 106,948 $ 1,756,086
Cayman Islands—2.1%    
Shenzhou International Group, Ltd. 1,001,468 1,717,928
China—7.4%    
China Petroleum & Chemical Corp. Class H 2,041,212 1,906,088
Datang International Power Generation Co., Ltd. Class H 5,640,525 1,898,787
Jiangsu Expressway Co., Ltd. Class H 2,671,171 2,215,281
Total China   6,020,156
Colombia—3.9%    
Ecopetrol SA ADR 54,028 3,183,870
India—11.4%    
Ashok Leyland, Ltd. 5,851,672 2,673,719
Bharat Petroleum Corp., Ltd. 320,056 2,115,907
Indiabulls Financial Services, Ltd. 1,103,056 4,474,335
Total India   9,263,961
Malaysia—9.2%    
DiGi.Com BHD 1,303,900 2,252,443
Kuala Lumpur Kepong BHD 266,400 1,922,717
Maxis BHD 1,435,100 3,249,106
Total Malaysia   7,424,266
Mexico—9.1%    
Bolsa Mexicana de Valores SAB de CV 1,261,201 2,613,187
Grupo Modelo SAB de CV Series C 227,224 2,048,104
Kimberly-Clark de Mexico SAB de CV Class A 1,146,404 2,740,902
Total Mexico   7,402,193
Philippines—2.7%    
Aboitiz Power Corp. 2,673,100 2,149,886
Poland—5.0%    
Telekomunikacja Polska SA 784,434 4,028,012
Russia—2.4%    
LUKOIL OAO ADR 31,727 1,954,383
South Africa—21.6%    
ABSA Group, Ltd. 165,072 2,770,823
Growthpoint Properties Ltd. 1,007,845 3,037,771
Lewis Group Ltd. 411,240 3,564,082
Redefine Properties Ltd. 3,614,303 4,095,639
Vodacom Group, Ltd. 325,262 4,024,803
Total South Africa   17,493,118

 

Investments Shares Value  
       
Thailand—7.6%      
Charoen Pokphand Foods PCL 1,867,500 $ 2,032,529  
Shin Corp. PCL 1,832,684 4,078,585  
Total Thailand   6,111,114  
Turkey—16.3%      
Arcelik AS 397,860 2,118,257  
Brisa Bridgestone Sabanci Sanayi ve Ticaret AS 733,339 1,952,194  
Eczacibasi Ilac Sinai ve Finansal Yatirimlar      
Sanayi ve Ticaret AS 2,420,035 2,506,831  
Konya Cimento Sanayii AS 13,984 2,359,742  
Turk Traktor ve Ziraat Makineleri AS 197,421 4,232,963  
Total Turkey   13,169,987  
TOTAL INVESTMENTS IN SECURITIES—100.9%      
(Cost: $82,185,188)   81,674,960  
Liabilities in Excess of Other Assets—(0.9)%   (698,945 )
Net Assets—100.0%   $ 80,976,015  

 

The Consolidated Schedule of Investments includes the accounts of the wholly owned subsidiary. All inter-company accounts and transactions have been eliminated in consolidation. See Note 2 of the Notes to Financial Statements.
ADR American Depositary Receipts
        % of
Summary by Industry   Value   Net Assets
Auto Components   $ 1,952,194       2.4 %
Beverages     2,048,104       2.5  
Commercial Banks     2,770,823       3.4  
Construction Materials     2,359,742       2.9  
Diversified Financial Services     7,087,522       8.8  
Diversified Telecommunication Services     4,028,012       5.0  
Electric Utilities     1,756,086       2.2  
Food Products     3,955,246       4.9  
Household Durables     2,118,257       2.6  
Household Products     2,740,902       3.4  
Independent Power Producers & Energy Traders     4,048,673       5.0  
Machinery     6,906,682       8.5  
Oil, Gas & Consumable Fuels     9,160,248       11.3  
Pharmaceuticals     2,506,831       3.1  
Real Estate Management & Development     7,133,410       8.8  
Specialty Retail     3,564,082       4.4  
Textiles, Apparel & Luxury Goods     1,717,928       2.1  
Transportation Infrastructure     2,215,281       2.8  
Wireless Telecommunication Services     13,604,937       16.8  
Total Investments     81,674,960       100.9  
Liabilities in Excess of Other Assets     (698,945 )     (0.9 )
Net Assets   $ 80,976,015       100.0 %

 


The accompanying notes are an integral part of these financial statements.

50 EGA Emerging Global Shares Trust

 
 

Schedule of Investments (Consolidated)†

EGShares Technology GEMS ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
COMMON STOCKS—100.6%    
Cayman Islands—1.7%    
Comba Telecom Systems Holdings, Ltd. 90,284 $ 30,276
Chile—3.1%    
Sonda SA 18,782 56,399
China—43.6%    
AsiaInfo-Linkage, Inc.* 3,255 38,116
Baidu, Inc. ADR* 1,609 187,963
China Communications Services Corp., Ltd. Class H 103,000 59,648
Lenovo Group, Ltd. 114,279 94,628
NetEase.com, Inc. ADR* 1,479 83,031
SINA Corp.* 1,321 85,442
Sohu.com, Inc.* 1,171 49,288
Spreadtrum Communications, Inc. ADR 2,409 49,529
TCL Communication Technology Holdings, Ltd. 91,005 32,983
Travelsky Technology, Ltd. Class H 68,000 36,135
VanceInfo Technologies, Inc. ADR* 2,907 22,820
ZTE Corp. Class H 29,900 47,974
Total China   787,557
India—35.7%    
Financial Technologies India, Ltd. 1,947 36,006
Hexaware Technologies, Ltd. 14,800 34,176
Infosys, Ltd. ADR 3,350 162,609
Mphasis, Ltd. 5,483 41,831
Oracle Financial Services Software, Ltd.* 861 49,119
Rolta India, Ltd. 16,212 22,330
Satyam Computer Services, Ltd.* 28,475 59,790
Tata Consultancy Services, Ltd. 4,887 120,069
Tech Mahindra, Ltd. 2,198 40,507
Wipro, Ltd. ADR 8,649 77,409
Total India   643,846
Indonesia—2.3%    
Tower Bersama Infrastructure Tbk PT* 91,000 42,315
Poland—2.7%    
Asseco Poland SA 3,531 49,247

 

Investments Shares Value  
       
Russia—3.5%      
Mail.ru Group, Ltd. GDR 1,873 $ 62,540  
South Africa—3.1%      
DataTec, Ltd. 8,853 56,490  
Thailand—3.1%      
Shin Corp. PCL 24,900 55,414  
Turkey—1.8%      
Aselsan Elektronik Sanayi Ve Ticaret AS 9,144 33,101  
TOTAL INVESTMENTS IN SECURITIES—100.6%      
(Cost: $1,832,064)   1,817,185  
Liabilities in Excess of Other Assets—(0.6)%   (10,847 )
Net Assets—100.0% $ 1,806,338  

 

The Consolidated Schedule of Investments includes the accounts of the wholly owned subsidiary. All inter-company accounts and transactions have been eliminated in consolidation. See Note 2 of the Notes to Financial Statements.
* Non-income producing security
ADR American Depositary Receipts
GDR Global Depositary Receipts
        % of
Summary by Industry   Value   Net Assets
Aerospace & Defense   $ 33,101       1.8 %
Communications Equipment     111,233       6.2  
Computers & Peripherals     94,628       5.2  
Diversified Telecommunication Services     59,648       3.3  
Electronic Equipment, Instruments & Components     56,490       3.1  
Internet Software & Services     468,264       25.9  
IT Services     651,255       36.1  
Semiconductors & Semiconductor Equipment     49,529       2.8  
Software     195,308       10.8  
Wireless Telecommunication Services     97,729       5.4  
Total Investments     1,817,185       100.6  
Liabilities in Excess of Other Assets     (10,847 )     (0.6 )
Net Assets   $ 1,806,338       100.0 %

 


The accompanying notes are an integral part of these financial statements.

EGA Emerging Global Shares Trust 51

 
 

Schedule of Investments (Consolidated)†

EGShares Telecom GEMS ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
COMMON STOCKS—99.6%    
Brazil—7.8%    
Oi SA ADR 23,720 $ 95,354
Telefonica Brasil SA Preference Shares ADR 6,403 139,201
Tim Participacoes SA ADR 4,572 87,874
Total Brazil   322,429
Chile—2.0%    
Entel Chile SA 3,994 83,197
China—16.9%    
China Mobile, Ltd. 36,560 405,292
China Telecom Corp., Ltd. Class H 270,673 156,401
China Unicom Hong Kong, Ltd. ADR 8,637 140,870
Total China   702,563
Czech Republic—1.8%    
Telefonica Czech Republic SA 3,641 73,518
Egypt—1.8%    
Orascom Telecom Holding SAE* 123,076 76,509
India—4.3%    
Bharti Airtel, Ltd. 25,965 130,674
Reliance Communications, Ltd. 38,508 47,309
Total India   177,983
Indonesia—4.2%    
Telekomunikasi Indonesia Tbk PT ADR 4,513 175,691
Malaysia—12.7%    
Axiata Group BHD 74,700 158,858
DiGi.Com BHD 75,800 130,942
Maxis BHD 58,800 133,125
Telekom Malaysia BHD 50,800 102,880
Total Malaysia   525,805
Mexico—10.0%    
America Movil SAB de CV Series L ADR 16,383 416,784
Morocco—1.6%    
Maroc Telecom 5,618 67,074
Philippines—3.2%    
Philippine Long Distance Telephone Co. ADR 2,004 132,284

 

Investments Shares   Value
       
Poland—2.5%      
Telekomunikacja Polska SA 19,759 $ 101,461
Russia—9.3%      
Mobile TeleSystems ADR 9,463   165,792
Rostelecom OJSC ADR 5,200   131,560
VimpelCom, Ltd. ADR 7,615   90,618
Total Russia     387,970
South Africa—10.5%      
MTN Group, Ltd. 15,054   292,299
Telkom South Africa, Ltd.* 18,312   39,060
Vodacom Group, Ltd. 8,524   105,476
Total South Africa     436,835
Thailand—6.0%      
Advanced Info Service PCL 24,000   166,862
Total Access Communication PCL 27,100   81,441
Total Thailand     248,303
Turkey—5.0%      
Turk Telekomunikasyon AS 20,269   80,823
Turkcell Iletisim Hizmetleri AS ADR* 8,348   126,389
Total Turkey     207,212
TOTAL INVESTMENTS IN SECURITIES—99.6%      
(Cost: $4,044,032)     4,135,618
Other Assets in Excess of Liabilities—0.4%     17,151
Net Assets—100.0%   $ 4,152,769

 

The Consolidated Schedule of Investments includes the accounts of the wholly owned subsidiary. All inter-company accounts and transactions have been eliminated in consolidation. See Note 2 of the Notes to Financial Statements.
* Non-income producing security
ADR American Depositary Receipts
        % of
Summary by Industry   Value   Net Assets
Diversified Telecommunication Services   $ 1,172,333       28.2 %
Wireless Telecommunication Services     2,963,285       71.4  
Total Investments     4,135,618       99.6  
Other Assets in Excess of Liabilities   17,151       0.4  
Net Assets   $ 4,152,769       100.0 %

 


The accompanying notes are an integral part of these financial statements.

52 EGA Emerging Global Shares Trust

 
 

Schedule of Investments (Consolidated)†

EGShares Utilities GEMS ETF

September 30, 2012 (Unaudited)

 
Investments Shares Value
 
COMMON STOCKS—100.0%    
Brazil—28.1%    
Centrais Eletricas Brasileiras SA ADR 10,270 $ 60,901
Companhia de Saneamento Basico do    
Estado de Sao Paulo ADR 1,622 131,722
Companhia Energetica de Minas Gerais ADR 13,445 162,953
Companhia Paranaense de Energia-Copel    
Preference Shares ADR 3,260 53,529
CPFL Energia SA ADR 3,296 72,215
Ultrapar Participacoes SA ADR 11,074 247,061
Total Brazil   728,381
Chile—12.5%    
Colbun SA* 228,749 64,482
Empresa Nacional de Electricidad SA ADR 3,055 146,518
Enersis SA ADR 6,877 112,714
Total Chile   323,714
China—8.0%    
China Resources Power Holdings Co., Ltd. 47,420 103,852
Datang International Power Generation Co., Ltd. Class H 96,300 32,418
Huaneng Power International, Inc. ADR 2,410 72,131
Total China   208,401
Colombia—2.2%    
Interconexion Electrica SA ESP 10,492 55,463
Czech Republic—6.5%    
CEZ AS 4,538 169,104
Hong Kong—2.3%    
Guangdong Investment, Ltd. 75,764 59,902
India—13.4%    
NTPC, Ltd. 35,694 113,758
Petronet LNG, Ltd. 6,651 19,917
Power Grid Corp. of India, Ltd. 34,353 78,482
Reliance Infrastructure, Ltd. 4,365 44,490
Rural Electrification Corp., Ltd. 9,646 39,914
Tata Power Co., Ltd. 25,089 50,873
Total India   347,434
Indonesia—4.8%    
Perusahaan Gas Negara PT 289,200 124,655
Malaysia—8.9%    
Tenaga Nasional BHD 62,900 140,350
YTL Corp. BHD 109,040 61,360
YTL Power International BHD 52,400 28,459
Total Malaysia   230,169

 

Investments Shares Value
 
Philippines—3.6%    
Aboitiz Power Corp. 59,400 $ 47,773
Manila Electric Co. 7,600 46,458
Total Philippines   94,231
Poland—6.5%    
PGE SA 20,465 118,182
Tauron Polska Energia SA 32,995 50,468
Total Poland   168,650
Russia—3.2%    
Federal Hydrogenerating Co. JSC ADR 31,257 83,144
TOTAL COMMON STOCKS    
(Cost: $2,644,865)   2,593,248
RIGHTS—0.0%    
Malaysia—0.0%    
YTL Corp. BHD Class R, expiring 10/17/12* (Cost: $0) 7,269
TOTAL INVESTMENTS IN SECURITIES—100.0%    
(Cost: $2,644,865)   2,593,248
Other Assets in Excess of Liabilities—0.0%**   261
Net Assets—100.0%   $ 2,593,509

 

The Consolidated Schedule of Investments includes the accounts of the wholly owned subsidiary. All inter-company accounts and transactions have been eliminated in consolidation. See Note 2 of the Notes to Financial Statements.
* Non-income producing security
** Less than 0.05%
ADR American Depositary Receipts
        % of
Summary by Industry   Value   Net Assets
Diversified Financial Services   $ 39,914       1.5 %
Electric Utilities     1,299,326       50.1  
Gas Utilities     124,655       4.8  
Independent Power Producers & Energy Traders     580,932       22.4  
Multi-Utilities     89,819       3.5  
Oil, Gas & Consumable Fuels     266,978       10.3  
Water Utilities     191,624       7.4  
Total Investments     2,593,248       100.0  
Other Assets in Excess of Liabilities     261       0.0 **
Net Assets   $ 2,593,509       100.0 %

 

** Less than 0.05%
     

The accompanying notes are an integral part of these financial statements.

EGA Emerging Global Shares Trust 53

 
 

Statements of Assets and Liabilities

EGA Emerging Global Shares Trust

September 30, 2012 (Unaudited)

  EGShares
Basic Materials
GEMS ETF
(Consolidated)
EGShares
Beyond
BRICs ETF
EGShares
Brazil
Infrastructure ETF
EGShares
China
Infrastructure ETF
EGShares
Consumer Goods
GEMS ETF
(Consolidated)
ASSETS:                              
Cost of Investments: $ 3,258,619   $ 7,039,850   $ 67,913,423   $ 13,396,369   $ 2,070,755  
Investments at value   2,838,689     7,168,837     69,587,177     10,466,463     2,237,966  
Cash   19,925     16,681     458,352     41,809     9,965  
Foreign cash*   184     1,267     106,247         1,007  
Receivables:                              
Dividends and interest   9,412     3,930     262,909     1,982     1,435  
Due from sub-adviser   9,505     4,237         6,994     11,716  
Due from advisor               1,337      
Investment securities sold   11,999                  
Prepaid offering expenses   3,456                 3,956  
Prepaid expense and other assets   3,947     7,322     1,274     1,407     6,411  
Total Assets   2,897,117     7,202,274     70,415,959     10,519,992     2,272,456  
 
LIABILITIES:                              
Payables:                              
Accrued investment advisory fees   227     663     5,893         1,768  
Accrued sub-advisory fees           15,676          
Accrued trustee fees   9     28     1,373     187     3  
Due to custodian                    
Foreign currency payable                    
Income payable                    
Investment securities purchased   16,124                  
Accrued expenses and other liabilities   34,735     5,683     84,235     41,855     39,825  
Total Liabilities   51,095     6,374     107,177     42,042     41,596  
NET ASSETS $ 2,846,022   $ 7,195,900   $ 70,308,782   $ 10,477,950   $ 2,230,860  
 
NET ASSETS:                              
Paid-in capital $ 3,348,942   $ 7,050,561   $ 77,603,041   $ 15,663,355   $ 2,066,552  
Undistributed (accumulated) net investment income (loss)   54,785     16,456     2,079,478     182,206     16,947  
Accumulated net realized loss on investments and foreign currency transactions   (138,359 )   (118 )   (11,035,897 )   (2,437,705 )   (19,903 )
Net unrealized appreciation (depreciation) on investments and on foreign currency translations   (419,346 )   129,001     1,662,160     (2,929,906 )   167,264  
NET ASSETS $ 2,846,022   $ 7,195,900   $ 70,308,782   $ 10,477,950   $ 2,230,860  
Outstanding beneficial interest shares (unlimited shares of beneficial interest authorized, no par value)   200,000     350,000     3,350,000     650,000     100,000  
Net asset value per share $ 14.23   $ 20.56   $ 20.99   $ 16.12   $ 22.31  
 
* Cost of foreign cash: $ 77   $ 1,272   $ 111,993   $ 1,983   $ 968  
  EGShares
Consumer
Services
GEMS ETF
EGShares
Emerging Markets
Consumer ETF
(Consolidated)
EGShares
Emerging Markets
Domestic Demand ETF
(Consolidated)
EGShares
Emerging Markets
Metals & Mining ETF
(Consolidated)
EGShares
Energy
GEMS ETF
(Consolidated)
EGShares
Financials
GEMS ETF
(Consolidated)
ASSETS:                                    
Cost of Investments: $ 2,003,822   $ 418,982,105   $ 4,993,926   $ 17,360,386   $ 13,405,515   $ 4,388,284  
Investments at value   2,051,122     450,055,887     5,119,491     12,598,685     11,914,808     3,921,179  
Cash   88,069     7,567,348     7,164     206,052     82,794     10,176  
Foreign cash*   309     259,631     667     2,420     10,687     5,572  
Receivables:                                    
Dividends and interest   1,001     290,225     2,683     42,381     24,494     2,880  
Due from sub-adviser   3,354         6,666     13,736     15,364     21,332  
Due from advisor                        
Investment securities sold                        
Prepaid offering expenses   31                      
Prepaid expense and other assets   1,563     32,319     7,322     1,672     1,293     1,274  
Total Assets   2,145,449     458,205,410     5,143,993     12,864,946     12,049,440     3,962,413  
 
LIABILITIES:                                    
Payables:                                    
Accrued investment advisory fees   1,511     36,227     663     1,020     965     317  
Accrued sub-advisory fees       152,789                  
Accrued trustee fees   4     5,257     28     214     147     56  
Due to custodian                        
Foreign currency payable                        
Income payable                        
Investment securities purchased   95,378     7,306,896         150,758     43,496      
Accrued expenses and other liabilities   35,231     258,871     8,600     49,852     50,559     43,095  
Total Liabilities   132,124     7,760,040     9,291     201,844     95,167     43,468  
NET ASSETS $ 2,013,325   $ 450,445,370   $ 5,134,702   $ 12,663,102   $ 11,954,273   $ 3,918,945  
 
NET ASSETS:                                    
Paid-in capital $ 2,001,145   $ 422,190,500   $ 4,999,879   $ 19,027,493   $ 14,539,009   $ 4,543,409  
Undistributed (accumulated) net investment income (loss)   6,462     2,331,784     11,547     240,171     157,699     51,257  
Accumulated net realized loss on investments and foreign currency transactions   (41,985 )   (5,200,800 )   (2,308 )   (1,846,103 )   (1,252,092 )   (208,567 )
Net unrealized appreciation (depreciation) on investments and on foreign currency translations   47,703     31,123,886     125,584     (4,758,459 )   (1,490,343 )   (467,154 )
NET ASSETS $ 2,013,325   $ 450,445,370   $ 5,134,702   $ 12,663,102   $ 11,954,273   $ 3,918,945  
Outstanding beneficial interest shares (unlimited shares of beneficial interest authorized, no par value)   100,000     18,450,000     250,000     900,000     500,000     200,000  
Net asset value per share $ 20.13   $ 24.41   $ 20.54   $ 14.07   $ 23.91   $ 19.59  
 
* Cost of foreign cash: $ 8   $ 252,252   $ 649   $ 2,067   $ 10,475   $ 5,634  

The accompanying notes are an integral part of these financial statements.

54 and 55 EGA Emerging Global Shares Trust

 
 

Statements of Assets and Liabilities (concluded)

EGA Emerging Global Shares Trust

September 30, 2012 (Unaudited)

  EGShares
GEMS
Composite ETF
(Consolidated)
EGShares
Health Care
GEMS ETF
(Consolidated)
EGShares
India
Consumer ETF
(Consolidated)
EGShares
India
Infrastructure ETF
(Consolidated)
ASSETS:                        
Cost of Investments: $ 14,633,129   $ 1,907,783   $ 1,836,174   $ 73,868,745  
Investments at value   13,394,819     2,126,280     2,233,082     59,284,971  
Cash   91,111     88,365     10,899     116,181  
Foreign cash*   10,698     856     33     46,096  
Receivables:                        
Dividends and interest   25,072         1,228     103,862  
Due from sub-adviser   25,342     7,811     5,774      
Due from advisor                
Investment securities sold                
Prepaid offering expenses       3,706          
Prepaid expense and other assets   2,449     4,175     1,283     8,051  
Total Assets   13,549,491     2,231,193     2,252,299     59,559,161  
 
LIABILITIES:                        
Payables:                        
Accrued investment advisory fees   1,092     169         4,420  
Accrued sub-advisory fees               27,691  
Accrued trustee fees   196     25     35     875  
Due to custodian                
Foreign currency payable                
Income payable                
Investment securities purchased   43,157     81,555          
Accrued expenses and other liabilities   53,849     35,795     44,574     74,884  
Total Liabilities   98,294     117,544     44,609     107,870  
NET ASSETS $ 13,451,197   $ 2,113,649   $ 2,207,690   $ 59,451,291  
 
NET ASSETS:                        
Paid-in capital $ 16,095,612   $ 1,934,573   $ 1,837,345   $ 87,185,917  
Undistributed (accumulated) net investment income (loss)   196,175     8,699     8,868     384,405  
Accumulated net realized loss on investments and foreign currency transactions   (1,601,837 )   (48,606 )   (35,472 )   (13,540,950 )
Net unrealized appreciation (depreciation) on investments and on foreign currency translations   (1,238,753 )   218,983     396,949     (14,578,081 )
NET ASSETS $ 13,451,197   $ 2,113,649   $ 2,207,690   $ 59,451,291  
Outstanding beneficial interest shares (unlimited shares of beneficial interest authorized, no par value)   600,000     100,000     100,000     4,050,000  
Net asset value per share $ 22.42   $ 21.14   $ 22.08   $ 14.68  
 
* Cost of foreign cash: $ 10,674   $ 830   $ 30   $ 45,435  
  EGShares
India
Small Cap ETF
(Consolidated)
EGShares
Industrials
GEMS ETF
(Consolidated)
EGShares
Low Volatility Emerging
Markets Dividend ETF
(Consolidated)
EGShares
Technology
GEMS ETF
(Consolidated)
EGShares
Telecom
GEMS ETF
(Consolidated)
EGShares
Utilities
GEMS ETF
(Consolidated)
ASSETS:                                    
Cost of Investments: $ 24,681,695   $ 2,731,072   $ 82,185,188   $ 1,832,064   $ 4,044,032   $ 2,644,865  
Investments at value   24,673,730     2,818,840     81,674,960     1,817,185     4,135,618     2,593,248  
Cash   72,397     11,220         8,734     7,424     12,312  
Foreign cash*   43,099     285     987     586     12,479     11,136  
Receivables:                                    
Dividends and interest   13,864     4,759     310,664     90     16,171     8,856  
Due from sub-adviser       10,037         20,859     8,974     8,582  
Due from advisor                        
Investment securities sold           12,654              
Prepaid offering expenses       3,706     2,667     3,706     3,706     3,706  
Prepaid expense and other assets   10,466     4,255     5,651     4,172     4,882     4,329  
Total Assets   24,813,556     2,853,102     82,007,583     1,855,332     4,189,254     2,642,169  
 
LIABILITIES:                                    
Payables:                                    
Accrued investment advisory fees   3,446     220     4,587     8,829     541     659  
Accrued sub-advisory fees   25,923         27,572              
Accrued trustee fees   394     15     665     29     30     39  
Due to custodian           107,588              
Foreign currency payable                       11,069  
Income payable           834,028              
Investment securities purchased                        
Accrued expenses and other liabilities   59,673     36,678     57,128     40,136     35,914     36,893  
Total Liabilities   89,436     36,913     1,031,568     48,994     36,485     48,660  
NET ASSETS $ 24,724,120   $ 2,816,189   $ 80,976,015   $ 1,806,338   $ 4,152,769   $ 2,593,509  
 
NET ASSETS:                                    
Paid-in capital $ 38,105,717   $ 2,937,491   $ 84,253,314   $ 1,945,451   $ 3,990,242   $ 2,700,563  
Undistributed (accumulated) net investment income (loss)   107,153     20,080     (6,716 )   14,831     116,127     58,078  
Accumulated net realized loss on investments and foreign currency transactions   (13,483,150 )   (229,217 )   (2,760,181 )   (139,100 )   (45,221 )   (113,591 )
Net unrealized appreciation (depreciation) on investments and on foreign currency translations   (5,600 )   87,835     (510,402 )   (14,844 )   91,621     (51,541 )
NET ASSETS