Merrill Lynch International Investment Funds Audited Annual Report ...

Global Enhanced Equity Yield Fund (1) continued
Portfolio of Investments 31 December 2006
Transferable Securities Admitted to an Official Stock Exchange
Listing or Dealt in on Another Regulated Market
Holding Description Value (US$) %
6,100 Freddie Mac 416,813 0.14
14,100 Freeport-McMoRan Copper & Gold 'B' 784,242 0.27
2,100 Gannett 127,953 0.04
4,800 Genentech 390,960 0.13
128,100 General Electric † 4,796,064 1.62
3,000 General Mills 173,190 0.06
30,300 General Motors 932,331 0.32
4,600 Gilead Sciences 301,668 0.10
2,200 Google 'A' 1,019,194 0.34
8,900 Halliburton 276,790 0.09
9,600 Harrah's Entertainment 795,072 0.27
47,800 Health Care Property Investors (Reit) 1,739,442 0.59
28,300 Hewlett-Packard 1,175,865 0.40
3,000 HJ Heinz 135,090 0.05
18,100 Home Depot 722,914 0.24
26,700 Honeywell International 1,211,379 0.41
13,400 IBM – International Business Machines 1,306,232 0.44
3,105 Idearc † 88,213 0.03
51,000 Intel 1,043,460 0.35
19,500 International Paper 664,950 0.22
4,600 Interpublic Group of Companies 56,396 0.02
31,400 iStar Financial (Reit) 1,506,258 0.51
42,300 Johnson & Johnson † 2,799,837 0.95
44,600 JPMorgan Chase & Co † 2,174,696 0.74
3,400 Keycorp 129,948 0.04
16,300 Kimberly-Clark 1,114,431 0.38
3,100 Kohl's 214,179 0.07
1,000 Las Vegas Sands 90,690 0.03
26,800 Limited Brands 786,848 0.27
13,100 Lincoln National 870,233 0.29
15,000 Lowe's 468,150 0.16
30,500 Marsh & McLennan 948,550 0.32
25,700 Maxim Integrated Products 794,901 0.27
31,400 McDonald's † 1,399,498 0.47
2,500 Medimmune 81,000 0.03
10,700 Medtronic 569,775 0.19
20,600 Mellon Financial 876,118 0.30
1,800 MEMC Electronic Materials 71,478 0.02
40,400 Merck & Co † 1,749,320 0.59
25,300 Microchip Technology 833,888 0.28
78,100 Microsoft † 2,349,248 0.79
5,500 Monsanto 287,265 0.10
1,100 Monster Worldwide 51,744 0.02
21,800 Motorola 452,786 0.15
5,400 National City 199,044 0.07
3,800 Network Appliance 151,544 0.05
95,400 New York Community Bancorp † 1,549,296 0.52
16,100 Newell Rubbermaid 468,027 0.16
16,100 News 'A' 347,760 0.12
2,800 NTL 71,064 0.02
3,400 Nvidia 128,180 0.04
2,900 Office Depot 112,056 0.04
43,500 Oracle 752,115 0.25
104,200 Pfizer † 2,714,410 0.92
Transferable Securities Admitted to an Official Stock Exchange
Listing or Dealt in on Another Regulated Market
Holding Description Value (US$) %
3,100 PG&E 146,940 0.05
16,500 Pitney Bowes 764,940 0.26
7,300 Plum Creek Timber (Reit) 290,394 0.10
12,300 Procter & Gamble 794,211 0.27
2,100 Prologis (Reit) 127,512 0.04
2,300 Public Service Enterprise Group 152,651 0.05
16,400 Qwest Communications International 138,088 0.05
4,100 Regions Financial 154,078 0.05
10,800 Rohm & Haas 554,580 0.19
6,300 RR Donnelley & Sons 225,036 0.08
2,300 SanDisk 98,302 0.03
56,500 Sara Lee † 960,500 0.32
900 Sears Holdings 151,740 0.05
1,900 Simon Property Group (Reit) 192,432 0.07
13,000 Sirius Satellite Radio 47,072 0.02
6,700 Southern 247,833 0.08
24,900 Sprint Nextel 476,835 0.16
6,100 St Paul Travelers 330,010 0.11
7,500 Staples 202,350 0.07
7,800 Starbucks 279,084 0.09
35,700 Sun Microsystems 196,350 0.07
3,000 SunTrust Banks 254,790 0.09
22,100 Supervalu 799,357 0.27
8,400 Target 483,084 0.16
17,800 Temple-Inland 821,292 0.28
15,800 Texas Instruments † 459,306 0.16
21,300 Time Warner 468,174 0.16
3,900 TXU 211,263 0.07
12,400 UnitedHealth Group † 666,748 0.23
15,600 US Bancorp 566,436 0.19
75,800 Verizon Communications † 2,851,596 0.96
1,300 Vertex Pharmaceuticals 48,841 0.02
1,000 Vornado Realty Trust (Reit) 120,980 0.04
17,000 Wachovia † 973,930 0.33
10,300 Walgreen † 475,654 0.16
18,300 Walt Disney 632,448 0.21
47,000 Washington Mutual † 2,159,180 0.73
25,700 Waste Management † 945,246 0.32
28,000 Wells Fargo & Co † 1,002,680 0.34
7,800 Western Union 174,876 0.06
13,000 Weyerhaeuser † 922,870 0.31
1,400 Whole Foods Market 65,800 0.02
500 Wynn Resorts 46,923 0.02
66,700 Xcel Energy † 1,538,102 0.52
2,800 XM Satellite Radio Holdings 'A' 40,852 0.01
12,800 Yahoo! † ___________
327,808
______
0.11
___________
129,933,374
______
43.92
Total Portfolio 274,609,927 92.83
Other Net Assets
___________
21,205,142
______
7.17
Total Net Assets (US$)
___________
295,815,069
______
100.00
(†)
Securities pledged, see Note 14 for further details.
132 Merrill Lynch International Investment Funds