Merrill Lynch International Investment Funds Audited Annual Report ...

US Basic Value Fund
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$) %
COMMON STOCKS (SHARES)
Bermuda
1,715,200 Tyco International
___________
52,759,552
______
2.49
Canada
92,400 Nortel Networks
___________
2,506,829
______
0.12
Cayman Islands
647,300 GlobalSantaFe 38,326,633 1.81
329,200 XL Capital 'A'
___________
23,804,452
______
1.12
___________
62,131,085
______
2.93
Japan
360,300 Sony ADR
___________
15,528,930
______
0.74
Netherlands
663,600 Koninklijke Philips Electronics NV
(NY Shares) 25,130,532 1.19
1,450,300 Unilever (NY Shares)
___________
39,738,220
______
1.87
___________
64,868,752
______
3.06
United Kingdom
99,300 Cadbury Schweppes ADR 4,270,893 0.20
579,000 GlaxoSmithKline ADR
___________
30,484,350
______
1.44
___________
34,755,243
______
1.64
United States
1,129,200 Alcoa 33,717,912 1.59
345,900 Allstate 22,704,876 1.07
804,600 American International Group 57,681,774 2.72
369,700 Applied Materials 6,883,814 0.33
882,900 AT&T 31,749,084 1.50
781,554 Bank of America 41,961,634 1.98
1,151,200 Bank of New York 45,794,736 2.16
976,500 Baxter International † 45,387,720 2.14
678,400 BellSouth 32,196,864 1.52
427,500 BJ Services 12,483,000 0.59
429,100 Chevron 31,719,072 1.50
1,088,759 Citigroup 60,850,741 2.87
1,273,700 Coca-Cola Enterprises 26,047,165 1.23
863,200 Comcast 'A' † 36,616,944 1.73
120,300 Consol Energy 3,894,111 0.18
225,700 Deere & Co* 21,626,574 1.02
122,700 Devon Energy 8,225,808 0.39
197,100 Dominion Resources (Virginia) 16,516,980 0.78
724,009 EI Du Pont de Nemours & Co 35,353,359 1.67
1,324,600 Exxon Mobil 102,113,414 4.82
Transferable Securities Admitted to an Official Stock Exchange
Listing or Dealt in on Another Regulated Market
Holding Description Value (US$) %
1,364,100 Fairchild Semiconductor International 23,230,623 1.10
253,300 Gannett 15,433,569 0.73
1,005,700 Gap † 19,842,461 0.94
1,138,400 General Electric 42,621,696 2.01
713,300 General Mills 41,178,809 1.94
437,200 Genworth Financial 'A' 15,074,656 0.71
454,300 Halliburton 14,128,730 0.67
341,300 Hartford Financial Services Group † 31,877,420 1.50
659,500 Hewlett-Packard 27,402,225 1.29
652,500 Honeywell International 29,603,925 1.40
696,300 IBM – International Business Machines † 67,875,324 3.20
56,270 Idearc 1,598,631 0.08
984,700 Intel 20,146,962 0.95
2,310,800 Interpublic Group of Companies 28,330,408 1.34
372,400 Johnson & Johnson 24,649,156 1.16
1,553,200 JPMorgan Chase & Co 75,734,032 3.57
619,400 Kimberly-Clark 42,348,378 2.00
389,300 Kraft Foods 'A' 13,882,438 0.66
454,400 Kroger 10,455,744 0.49
3,191,100 LSI Logic 29,549,586 1.40
519,900 Marsh & McLennan 16,168,890 0.76
427,500 McDonald's 19,053,675 0.90
659,800 Morgan Stanley 53,852,876 2.54
805,900 Motorola 16,738,543 0.79
538,100 Northrop Grumman † 36,703,801 1.73
252,400 Peabody Energy 10,313,064 0.49
1,633,000 Pfizer 42,539,650 2.01
869,600 Raytheon* 46,140,976 2.18
1,297,900 Schering-Plough 30,941,936 1.46
532,800 Southern 19,708,272 0.93
365,300 Sprint Nextel 6,995,495 0.33
906,800 St Paul Travelers 49,057,880 2.32
4,254,200 Sun Microsystems 23,398,100 1.10
2,222,500 Time Warner 48,850,550 2.31
3,892,700 Unisys 30,285,206 1.43
880,100 Verizon Communications* 33,109,362 1.56
805,900 Walt Disney 27,851,904 1.31
1,631,000 Wells Fargo & Co † 58,406,110 2.76
42,200 Wyeth 2,156,420 0.10
1,668,200 Xerox
___________
28,526,220
______
1.35
1,849,289,285
___________ ______
87.29
Total Portfolio 2,081,839,676 98.27
Other Net Assets
___________
36,605,255
______
1.73
Total Net Assets (US$) 2,118,444,931
___________ ______
100.00
( * ) Securities lent, see Note 13 for further details.
(†) Securities pledged, see Note 14 for further details.
168 Merrill Lynch International Investment Funds