Tax-Managed International Equity Portfolio
July 31, 2023
Portfolio of Investments (Unaudited)
Common Stocks — 99.3% |
Security | Shares | Value | |
Australia — 8.6% | |||
AGL Energy, Ltd. | 25,617 | $ 209,945 | |
Altium, Ltd. | 3,632 | 93,460 | |
ANZ Group Holdings, Ltd. | 5,526 | 95,871 | |
APA Group | 28,788 | 193,660 | |
ASX, Ltd.(1) | 1,525 | 63,712 | |
Atlas Arteria, Ltd. | 8,782 | 37,123 | |
Aurizon Holdings, Ltd. | 14,009 | 35,902 | |
Bapcor, Ltd. | 6,563 | 27,611 | |
BHP Group, Ltd. | 8,183 | 254,670 | |
Brambles, Ltd. | 17,422 | 164,826 | |
carsales.com, Ltd.(1) | 8,541 | 142,770 | |
Charter Hall Group | 2,482 | 19,131 | |
Charter Hall Long Wale REIT | 6,388 | 17,680 | |
Charter Hall Retail REIT | 6,757 | 17,062 | |
Cleanaway Waste Management, Ltd.(1) | 15,558 | 28,877 | |
Coles Group, Ltd. | 12,714 | 155,474 | |
Computershare, Ltd. | 7,415 | 125,056 | |
Cromwell Property Group | 20,061 | 7,427 | |
CSL, Ltd. | 2,625 | 472,805 | |
Data#3, Ltd. | 5,230 | 26,431 | |
Dexus | 13,975 | 77,349 | |
Elders, Ltd.(1) | 3,009 | 14,753 | |
Endeavour Group, Ltd.(1) | 5,423 | 22,166 | |
EVT, Ltd.(1) | 4,376 | 36,008 | |
GPT Group (The)(1) | 22,015 | 64,347 | |
Hansen Technologies, Ltd. | 14,633 | 51,583 | |
Harvey Norman Holdings, Ltd.(1) | 17,000 | 43,249 | |
Healius, Ltd. | 16,449 | 31,782 | |
InvoCare, Ltd.(1) | 3,423 | 28,147 | |
IPH, Ltd.(1) | 4,980 | 26,510 | |
IRESS, Ltd.(1) | 7,406 | 51,773 | |
JB Hi-Fi, Ltd.(1) | 1,878 | 57,759 | |
Lendlease Corp., Ltd.(1) | 9,400 | 54,648 | |
Link Administration Holdings, Ltd. | 16,267 | 16,755 | |
Lottery Corp. Ltd. | 26,454 | 92,057 | |
Medibank Private, Ltd. | 16,474 | 38,894 | |
Mirvac Group(1) | 41,842 | 65,956 | |
National Australia Bank, Ltd. | 6,485 | 124,227 | |
New Hope Corp., Ltd. | 6,072 | 21,745 | |
Newcrest Mining, Ltd. | 2,354 | 42,224 | |
NEXTDC, Ltd.(1)(2) | 10,100 | 86,683 | |
Nine Entertainment Co. Holdings, Ltd.(1) | 46,592 | 67,191 | |
Northern Star Resources, Ltd.(1) | 3,606 | 28,149 | |
oOh!media, Ltd. | 34,508 | 32,415 |
Security | Shares | Value | |
Australia (continued) | |||
Orica, Ltd. | 4,147 | $ 44,003 | |
PEXA Group, Ltd.(1)(2) | 2,163 | 19,297 | |
QBE Insurance Group, Ltd. | 5,122 | 54,380 | |
Qube Holdings, Ltd. | 28,277 | 55,971 | |
Region RE, Ltd. | 20,523 | 33,433 | |
Rio Tinto, Ltd. | 2,262 | 179,116 | |
Santos, Ltd.(1) | 20,873 | 112,317 | |
Scentre Group | 43,799 | 82,880 | |
SiteMinder, Ltd.(1)(2) | 12,563 | 35,598 | |
Stockland | 21,890 | 62,212 | |
Suncorp Group, Ltd. | 10,185 | 97,593 | |
Super Retail Group, Ltd. | 3,314 | 27,505 | |
Technology One, Ltd. | 10,774 | 114,152 | |
Telstra Group, Ltd. | 78,759 | 225,425 | |
TPG Telecom, Ltd. | 20,255 | 68,379 | |
Transurban Group | 22,607 | 218,272 | |
Vicinity, Ltd. | 39,555 | 52,592 | |
Viva Energy Group, Ltd.(3) | 12,311 | 26,119 | |
Waypoint REIT, Ltd. | 9,833 | 17,338 | |
Wesfarmers, Ltd. | 7,953 | 265,727 | |
Westpac Banking Corp. | 7,685 | 115,512 | |
Whitehaven Coal, Ltd. | 17,283 | 80,755 | |
Woodside Energy Group, Ltd. | 13,621 | 351,084 | |
Woolworths Group, Ltd.(1) | 14,196 | 368,654 | |
Yancoal Australia, Ltd.(1) | 6,032 | 20,713 | |
$ 6,094,890 | |||
Austria — 1.1% | |||
ams-OSRAM AG(1)(2) | 7,072 | $ 62,598 | |
ANDRITZ AG(1) | 1,285 | 67,845 | |
AT&S Austria Technologie & Systemtechnik AG(1) | 704 | 26,589 | |
BAWAG Group AG(2)(3) | 407 | 19,828 | |
CA Immobilien Anlagen AG(1) | 2,850 | 90,889 | |
DO & Co. AG | 185 | 24,999 | |
Erste Group Bank AG(1) | 2,269 | 85,759 | |
Kontron AG | 1,758 | 38,235 | |
Mayr-Melnhof Karton AG | 125 | 19,083 | |
OMV AG(1) | 1,834 | 82,629 | |
PIERER Mobility AG(1) | 420 | 36,546 | |
Rhi Magnesita NV | 764 | 29,364 | |
Telekom Austria AG, Class A(1)(2) | 8,000 | 60,895 | |
Verbund AG(1) | 1,229 | 101,831 | |
voestalpine AG(1) | 1,326 | 43,818 | |
$ 790,908 |
1
Tax-Managed International Equity Portfolio
July 31, 2023
Portfolio of Investments (Unaudited) — continued
Security | Shares | Value | |
Belgium — 2.2% | |||
Ackermans & van Haaren NV | 698 | $ 121,533 | |
Aedifica S.A. | 737 | 50,618 | |
Ageas S.A./NV | 1,164 | 49,276 | |
Anheuser-Busch InBev S.A./NV | 2,419 | 138,380 | |
Barco NV | 2,270 | 52,827 | |
Cofinimmo S.A.(1) | 488 | 38,193 | |
Deme Group NV | 351 | 46,483 | |
D'Ieteren Group | 715 | 124,872 | |
Econocom Group S.A./NV | 10,730 | 30,901 | |
Elia Group S.A./NV | 1,018 | 125,341 | |
Etablissements Franz Colruyt NV | 478 | 18,218 | |
Euronav NV | 5,526 | 90,790 | |
EVS Broadcast Equipment S.A. | 1,740 | 42,244 | |
Fagron | 1,130 | 20,108 | |
KBC Group NV | 1,598 | 120,273 | |
Montea NV | 358 | 29,009 | |
Proximus SADP | 9,427 | 72,275 | |
Shurgard Self Storage, Ltd. | 637 | 29,067 | |
Solvay S.A. | 842 | 101,123 | |
UCB S.A. | 1,600 | 141,676 | |
Umicore S.A.(1) | 2,338 | 69,240 | |
Xior Student Housing NV | 621 | 19,368 | |
$ 1,531,815 | |||
Denmark — 4.3% | |||
AP Moller - Maersk A/S, Class A | 34 | $ 68,361 | |
AP Moller - Maersk A/S, Class B | 45 | 92,439 | |
Carlsberg A/S, Class B | 2,327 | 349,008 | |
Chr. Hansen Holding A/S | 2,271 | 171,605 | |
Danske Bank A/S | 7,716 | 183,217 | |
DSV A/S | 1,024 | 204,943 | |
ISS A/S | 1,180 | 23,843 | |
Matas A/S | 1,729 | 25,408 | |
NKT A/S(2) | 462 | 26,397 | |
Novo Nordisk A/S, Class B(1) | 3,719 | 599,697 | |
Novozymes A/S, Class B(1) | 4,578 | 229,602 | |
Orsted A/S(3) | 4,338 | 377,491 | |
Pandora A/S | 2,364 | 236,476 | |
Scandinavian Tobacco Group A/S, Class A(1)(3) | 5,079 | 88,347 | |
SimCorp A/S | 1,532 | 164,271 | |
Sydbank A/S | 1,310 | 62,825 | |
Topdanmark A/S | 972 | 44,061 | |
TORM PLC, Class A | 907 | 22,325 | |
Tryg A/S | 5,012 | 98,956 | |
$ 3,069,272 |
Security | Shares | Value | |
Finland — 2.1% | |||
Citycon Oyj(2) | 3,632 | $ 22,546 | |
Elisa Oyj | 2,763 | 144,133 | |
Fortum Oyj | 10,228 | 138,459 | |
Kemira Oyj | 2,727 | 42,775 | |
Kesko Oyj, Class B | 7,282 | 145,703 | |
Kojamo Oyj | 3,939 | 38,485 | |
Kone Oyj, Class B | 1,969 | 100,996 | |
Neste Oyj | 3,560 | 131,062 | |
Nokia Oyj | 31,287 | 122,987 | |
Nokian Renkaat Oyj | 7,099 | 66,029 | |
Nordea Bank Abp | 13,924 | 157,597 | |
Orion Oyj, Class B | 3,814 | 146,576 | |
TietoEVRY Oyj(1) | 956 | 24,390 | |
Tokmanni Group Corp. | 4,468 | 69,000 | |
UPM-Kymmene Oyj | 3,680 | 121,836 | |
Valmet Oyj(1) | 1,377 | 36,526 | |
$ 1,509,100 | |||
France — 8.4% | |||
Air Liquide S.A. | 3,703 | $ 665,777 | |
Airbus SE | 780 | 114,894 | |
Altarea SCA | 326 | 30,469 | |
AXA S.A.(1) | 6,703 | 206,043 | |
BNP Paribas S.A. | 3,328 | 219,474 | |
Bollore SE | 13,714 | 86,710 | |
Bouygues S.A.(1) | 1,100 | 39,404 | |
Capgemini SE | 1,114 | 201,877 | |
Carrefour S.A. | 5,094 | 101,835 | |
Cie Generale des Etablissements Michelin SCA | 2,492 | 81,606 | |
Danone S.A. | 2,980 | 181,979 | |
Edenred | 1,068 | 69,367 | |
Engie S.A.(1) | 23,380 | 383,557 | |
Eurofins Scientific SE(1) | 1,294 | 88,997 | |
Eutelsat Communications S.A.(1) | 3,313 | 22,317 | |
Gecina S.A. | 1,055 | 114,059 | |
Getlink SE | 2,197 | 38,617 | |
ICADE | 1,083 | 44,122 | |
Ipsen S.A. | 787 | 99,183 | |
IPSOS | 484 | 24,195 | |
Klepierre S.A. | 4,222 | 112,067 | |
Legrand S.A. | 560 | 56,143 | |
L'Oreal S.A. | 281 | 130,696 | |
LVMH Moet Hennessy Louis Vuitton SE | 596 | 553,545 | |
Metropole Television S.A.(1) | 1,562 | 22,064 | |
Neoen S.A.(3) | 2,543 | 83,617 | |
Orange S.A. | 25,469 | 287,897 |
2
Tax-Managed International Equity Portfolio
July 31, 2023
Portfolio of Investments (Unaudited) — continued
Security | Shares | Value | |
France (continued) | |||
Pernod Ricard S.A. | 786 | $ 173,291 | |
Rothschild & Co. | 845 | 35,897 | |
Rubis SCA | 2,794 | 68,895 | |
Safran S.A. | 386 | 64,081 | |
Sanofi | 3,896 | 415,643 | |
Sopra Steria Group SACA | 385 | 83,713 | |
Teleperformance | 177 | 25,672 | |
Thales S.A. | 600 | 89,754 | |
TotalEnergies SE | 9,024 | 548,267 | |
Ubisoft Entertainment S.A.(2) | 1,529 | 51,423 | |
Vinci S.A.(1) | 1,159 | 136,122 | |
Vivendi SE(1) | 7,851 | 70,096 | |
Voltalia S.A.(1)(2) | 1,827 | 31,745 | |
Worldline S.A.(2)(3) | 2,484 | 98,464 | |
$ 5,953,574 | |||
Germany — 8.6% | |||
AIXTRON SE | 763 | $ 30,270 | |
Allianz SE | 1,068 | 255,251 | |
BASF SE | 4,755 | 254,920 | |
Bayer AG | 4,117 | 240,776 | |
Bayerische Motoren Werke AG | 1,291 | 157,437 | |
Bayerische Motoren Werke AG, PFC Shares | 256 | 28,762 | |
Bechtle AG | 893 | 39,304 | |
Brenntag SE | 725 | 56,249 | |
Continental AG | 331 | 26,427 | |
Cropenergies AG | 2,253 | 22,666 | |
Daimler Truck Holding AG | 1,859 | 69,769 | |
Deutsche Boerse AG | 659 | 126,265 | |
Deutsche Lufthansa AG(2) | 5,121 | 51,652 | |
Deutsche Telekom AG | 24,422 | 532,430 | |
Deutsche Wohnen SE | 2,636 | 66,132 | |
Dr. Ing. h.c. F. Porsche AG, PFC Shares(3) | 202 | 24,701 | |
E.ON SE | 49,704 | 628,772 | |
Evonik Industries AG | 3,498 | 72,454 | |
Fresenius Medical Care AG & Co. KGaA | 808 | 41,963 | |
Fresenius SE & Co. KGaA | 1,555 | 48,799 | |
Gea Group AG | 1,075 | 45,625 | |
Gerresheimer AG | 321 | 38,020 | |
Hamborner REIT AG | 13,027 | 94,274 | |
Hannover Rueck SE | 220 | 46,942 | |
Henkel AG & Co. KGaA | 2,701 | 188,752 | |
Henkel AG & Co. KGaA, PFC Shares | 3,830 | 295,547 | |
K+S AG | 3,195 | 61,003 | |
Knorr-Bremse AG | 398 | 27,995 | |
Mercedes-Benz Group AG | 2,040 | 162,920 |
Security | Shares | Value | |
Germany (continued) | |||
Merck KGaA | 792 | $ 139,174 | |
MTU Aero Engines AG | 190 | 44,367 | |
Muenchener Rueckversicherungs-Gesellschaft AG | 361 | 135,897 | |
Porsche Automobil Holding SE, PFC Shares | 452 | 26,671 | |
QIAGEN NV(2) | 1,735 | 81,409 | |
Rheinmetall AG | 216 | 61,181 | |
RWE AG | 1,362 | 58,619 | |
SAP SE | 3,795 | 517,682 | |
Siemens AG | 1,574 | 268,276 | |
Software AG(2) | 2,115 | 73,949 | |
Suedzucker AG | 9,335 | 161,610 | |
Symrise AG, Class A | 1,413 | 154,345 | |
Talanx AG | 1,186 | 72,631 | |
Telefonica Deutschland Holding AG | 23,557 | 63,472 | |
Vitesco Technologies Group AG(2) | 445 | 38,058 | |
Volkswagen AG | 307 | 49,063 | |
Volkswagen AG, PFC Shares | 790 | 104,656 | |
Vonovia SE | 14,528 | 338,502 | |
$ 6,125,639 | |||
Hong Kong — 4.7% | |||
AIA Group, Ltd. | 37,000 | $ 370,175 | |
ASMPT, Ltd. | 2,900 | 28,287 | |
Bank of East Asia, Ltd. (The) | 28,200 | 43,296 | |
Beijing Tong Ren Tang Chinese Medicine Co., Ltd.(1) | 21,000 | 37,448 | |
BOC Hong Kong Holdings, Ltd. | 23,500 | 71,723 | |
Budweiser Brewing Co. APAC, Ltd.(3) | 66,900 | 163,177 | |
Cafe de Coral Holdings, Ltd. | 22,000 | 28,912 | |
Cathay Pacific Airways, Ltd.(2) | 28,000 | 31,785 | |
China Traditional Chinese Medicine Holdings Co., Ltd. | 128,000 | 59,176 | |
Chow Sang Sang Holdings International, Ltd. | 18,000 | 20,994 | |
Chow Tai Fook Jewellery Group, Ltd. | 59,000 | 103,008 | |
CK Asset Holdings, Ltd. | 13,500 | 78,179 | |
CK Hutchison Holdings, Ltd. | 21,500 | 132,597 | |
CK Infrastructure Holdings, Ltd. | 14,500 | 76,840 | |
CLP Holdings, Ltd. | 19,500 | 158,947 | |
C-Mer Eye Care Holdings, Ltd.(1)(2) | 44,000 | 22,937 | |
DFI Retail Group Holdings, Ltd. | 13,100 | 35,264 | |
Fortune REIT | 35,000 | 25,309 | |
Fosun International, Ltd. | 54,000 | 39,362 | |
Galaxy Entertainment Group, Ltd.(2) | 28,000 | 204,387 | |
Hang Lung Group, Ltd. | 16,000 | 25,021 | |
Hang Lung Properties, Ltd. | 19,000 | 29,650 | |
Hang Seng Bank, Ltd. | 3,700 | 56,557 | |
HK Electric Investments & HK Electric Investments, Ltd. | 64,500 | 40,173 | |
HKT Trust and HKT, Ltd. | 169,000 | 199,623 |
3
Tax-Managed International Equity Portfolio
July 31, 2023
Portfolio of Investments (Unaudited) — continued
Security | Shares | Value | |
Hong Kong (continued) | |||
Hong Kong & China Gas Co., Ltd. | 147,906 | $ 126,882 | |
Hongkong Land Holdings, Ltd. | 15,800 | 56,307 | |
Hutchison Telecommunications Hong Kong Holdings, Ltd. | 238,000 | 36,308 | |
Hysan Development Co., Ltd. | 12,000 | 28,355 | |
In Technical Productions Holdings, Ltd.(2) | 116,000 | 45,322 | |
Jardine Matheson Holdings, Ltd. | 2,200 | 108,670 | |
Kerry Properties, Ltd. | 10,000 | 21,620 | |
Luk Fook Holdings International, Ltd. | 15,000 | 39,605 | |
MGM China Holdings, Ltd.(2) | 46,400 | 61,887 | |
MTR Corp., Ltd. | 14,500 | 66,820 | |
NWS Holdings, Ltd. | 51,000 | 58,494 | |
Pacific Basin Shipping, Ltd. | 119,000 | 38,743 | |
PAX Global Technology, Ltd. | 75,000 | 60,893 | |
Power Assets Holdings, Ltd. | 15,500 | 81,239 | |
Shangri-La Asia, Ltd.(2) | 48,000 | 40,054 | |
Sino Land Co., Ltd. | 32,000 | 39,281 | |
Sun Hung Kai Properties, Ltd. | 12,000 | 150,679 | |
Swire Pacific, Ltd., Class A | 4,000 | 33,437 | |
VSTECS Holdings, Ltd. | 60,000 | 30,448 | |
VTech Holdings, Ltd. | 10,000 | 62,364 | |
Wharf Holdings, Ltd. | 13,000 | 30,502 | |
Yue Yuen Industrial Holdings, Ltd. | 24,000 | 32,157 | |
Zhongyu Energy Holdings, Ltd.(1) | 36,000 | 26,091 | |
$ 3,358,985 | |||
Ireland — 2.3% | |||
Bank of Ireland Group PLC | 24,074 | $ 254,000 | |
CRH PLC | 5,583 | 332,584 | |
DCC PLC | 1,417 | 82,043 | |
Fineos Corp. Holdings PLC CDI(2) | 16,777 | 25,486 | |
Flutter Entertainment PLC(2) | 1,544 | 307,101 | |
Grafton Group PLC CDI | 5,892 | 66,269 | |
ICON PLC ADR(2) | 1,080 | 271,523 | |
Irish Continental Group PLC | 6,302 | 33,398 | |
Irish Residential Properties REIT PLC(1) | 33,524 | 35,680 | |
Kerry Group PLC, Class A | 2,357 | 234,170 | |
$ 1,642,254 | |||
Israel — 2.3% | |||
Alony Hetz Properties & Investments, Ltd. | 3,951 | $ 33,194 | |
Amot Investments, Ltd. | 5,499 | 29,473 | |
Azrieli Group, Ltd. | 509 | 28,965 | |
Bank Hapoalim B.M. | 6,278 | 55,766 | |
Bank Leumi Le-Israel B.M. | 6,149 | 49,085 | |
Bezeq The Israeli Telecommunication Corp., Ltd. | 74,540 | 98,620 | |
Cellcom Israel, Ltd.(2) | 4,833 | 17,147 |
Security | Shares | Value | |
Israel (continued) | |||
Check Point Software Technologies, Ltd.(2) | 385 | $ 50,901 | |
Delek Automotive Systems, Ltd. | 5,228 | 37,863 | |
Delek Group, Ltd. | 592 | 83,626 | |
Elbit Systems, Ltd. | 297 | 63,152 | |
Electra, Ltd. | 76 | 33,461 | |
Energix-Renewable Energies, Ltd. | 13,304 | 48,687 | |
Enlight Renewable Energy, Ltd.(2) | 3,935 | 75,784 | |
Fattal Holdings 1998, Ltd.(2) | 339 | 35,773 | |
Fiverr International, Ltd.(2) | 953 | 28,723 | |
Fox Wizel, Ltd. | 492 | 41,049 | |
ICL Group, Ltd. | 25,308 | 168,513 | |
Maytronics, Ltd. | 2,874 | 39,145 | |
Melisron, Ltd. | 379 | 25,046 | |
Mizrahi Tefahot Bank, Ltd. | 781 | 28,198 | |
Nice, Ltd.(2) | 412 | 89,680 | |
Oil Refineries, Ltd. | 76,583 | 24,481 | |
OPC Energy, Ltd.(2) | 4,225 | 30,089 | |
Partner Communications Co., Ltd.(2) | 9,362 | 39,945 | |
Plus500, Ltd. | 1,094 | 21,139 | |
Rami Levy Chain Stores Hashikma Marketing 2006, Ltd. | 427 | 25,792 | |
Reit 1, Ltd. | 8,315 | 36,188 | |
Shapir Engineering and Industry, Ltd. | 3,467 | 24,714 | |
Shufersal, Ltd.(2) | 11,960 | 63,423 | |
Strauss Group, Ltd.(2) | 1,358 | 31,981 | |
Teva Pharmaceutical Industries, Ltd. ADR(2) | 19,132 | 160,709 | |
$ 1,620,312 | |||
Italy — 4.5% | |||
Assicurazioni Generali SpA | 4,184 | $ 89,121 | |
Banco BPM SpA(1) | 12,713 | 63,617 | |
Cementir Holding NV | 6,913 | 65,245 | |
CNH Industrial NV | 8,265 | 119,371 | |
Davide Campari-Milano NV(1) | 14,115 | 189,831 | |
De'Longhi SpA | 1,200 | 30,450 | |
DiaSorin SpA | 977 | 109,612 | |
Enav SpA(3) | 5,309 | 22,828 | |
Enel SpA | 40,123 | 276,656 | |
Eni SpA(1) | 24,005 | 366,481 | |
Ferrari NV | 793 | 254,225 | |
GVS SpA(2)(3) | 4,062 | 25,738 | |
Infrastrutture Wireless Italiane SpA(3) | 18,725 | 234,826 | |
Italgas SpA | 7,381 | 43,488 | |
Italmobiliare SpA | 1,360 | 37,380 | |
Leonardo SpA | 3,639 | 49,270 | |
Mediobanca Banca di Credito Finanziario SpA | 2,659 | 35,436 | |
MFE-MediaForEurope NV, Class B | 9,790 | 7,553 |
4
Tax-Managed International Equity Portfolio
July 31, 2023
Portfolio of Investments (Unaudited) — continued
Security | Shares | Value | |
Italy (continued) | |||
Poste Italiane SpA(3) | 5,564 | $ 63,560 | |
Prysmian SpA(1) | 2,617 | 104,353 | |
RAI Way SpA(3) | 4,122 | 23,478 | |
Recordati Industria Chimica e Farmaceutica SpA | 4,029 | 208,058 | |
Stellantis NV | 6,033 | 123,784 | |
STMicroelectronics NV | 7,572 | 405,179 | |
Technogym SpA(3) | 2,741 | 25,286 | |
Terna - Rete Elettrica Nazionale | 8,968 | 75,771 | |
UniCredit SpA(1) | 5,306 | 134,349 | |
UnipolSai Assicurazioni SpA(1) | 10,716 | 27,537 | |
$ 3,212,483 | |||
Japan — 12.8% | |||
Advance Residence Investment Corp. | 13 | $ 31,676 | |
Aeon Co., Ltd. | �� 3,100 | 67,142 | |
Air Water, Inc. | 2,000 | 28,167 | |
Ajinomoto Co., Inc. | 1,400 | 54,551 | |
ANA Holdings, Inc.(2) | 1,100 | 26,371 | |
Asahi Group Holdings, Ltd. | 1,800 | 70,757 | |
Asahi Kasei Corp. | 8,100 | 55,200 | |
Astellas Pharma, Inc. | 6,200 | 90,659 | |
Bandai Namco Holdings, Inc. | 2,400 | 54,299 | |
Bridgestone Corp. | 1,600 | 66,393 | |
Canon, Inc. | 1,500 | 38,768 | |
Capcom Co., Ltd. | 1,300 | 58,457 | |
Chiba Bank, Ltd. (The) | 7,000 | 49,219 | |
Chubu Electric Power Co., Inc. | 7,300 | 91,453 | |
Chugai Pharmaceutical Co., Ltd. | 2,700 | 80,355 | |
Concordia Financial Group, Ltd. | 10,800 | 49,399 | |
Dai-ichi Life Holdings, Inc. | 3,000 | 61,295 | |
Daiichi Sankyo Co., Ltd. | 5,700 | 175,558 | |
Daikin Industries, Ltd. | 500 | 101,099 | |
Daiwa House Industry Co., Ltd. | 3,500 | 95,126 | |
Daiwa House REIT Investment Corp. | 23 | 45,283 | |
Denso Corp.(1) | 1,000 | 69,628 | |
Dentsu Group, Inc.(1) | 1,500 | 50,192 | |
Disco Corp. | 600 | 112,786 | |
East Japan Railway Co. | 900 | 50,953 | |
Eisai Co., Ltd.(1) | 1,400 | 88,331 | |
ENEOS Holdings, Inc. | 31,200 | 113,198 | |
FANUC Corp. | 1,000 | 30,592 | |
Fast Retailing Co., Ltd. | 300 | 75,154 | |
Frontier Real Estate Investment Corp. | 8 | 26,581 | |
FUJIFILM Holdings Corp. | 500 | 29,033 | |
Fujitsu, Ltd. | 300 | 38,847 | |
GLP J-REIT | 41 | 40,392 |
Security | Shares | Value | |
Japan (continued) | |||
Hirose Electric Co., Ltd. | 315 | $ 39,897 | |
Hitachi, Ltd. | 1,300 | 85,104 | |
Honda Motor Co., Ltd. | 3,100 | 98,832 | |
Idemitsu Kosan Co., Ltd. | 3,700 | 78,132 | |
ITOCHU Corp.(1) | 1,500 | 60,668 | |
Iwatani Corp. | 1,800 | 96,083 | |
Japan Metropolitan Fund Investment Corporation | 93 | 63,788 | |
Japan Post Bank Co., Ltd. | 2,300 | 19,135 | |
Japan Post Holdings Co., Ltd. | 7,500 | 54,769 | |
Japan Prime Realty Investment Corp. | 22 | 54,777 | |
Japan Real Estate Investment Corp. | 11 | 44,243 | |
Japan Tobacco, Inc. | 4,100 | 90,977 | |
JFE Holdings, Inc. | 3,100 | 50,145 | |
Kansai Electric Power Co., Inc. | 7,200 | 94,588 | |
Kao Corp. | 1,500 | 56,987 | |
KDDI Corp. | 5,400 | 158,931 | |
Kenedix Office Investment Corp.(1) | 12 | 28,533 | |
Keyence Corp. | 400 | 179,497 | |
Kintetsu Group Holdings Co., Ltd.(1) | 800 | 26,837 | |
Kirin Holdings Co., Ltd. | 3,800 | 56,128 | |
Kobayashi Pharmaceutical Co., Ltd. | 600 | 32,983 | |
Komatsu, Ltd. | 2,200 | 61,632 | |
Konami Group Corp.(1) | 900 | 50,487 | |
Kubota Corp. | 2,500 | 37,765 | |
Kuraray Co., Ltd. | 2,300 | 23,144 | |
Kyocera Corp. | 900 | 48,431 | |
Kyushu Electric Power Co., Inc.(2) | 3,600 | 24,444 | |
Lion Corp. | 5,400 | 51,597 | |
Marubeni Corp. | 3,400 | 60,197 | |
Maruichi Steel Tube, Ltd. | 1,200 | 28,441 | |
MatsukiyoCocokara & Co. | 900 | 52,669 | |
MEIJI Holdings Co., Ltd. | 1,600 | 36,966 | |
Mitsubishi Chemical Group Corp. | 10,000 | 59,818 | |
Mitsubishi Corp. | 2,200 | 112,566 | |
Mitsubishi Estate Co., Ltd.(1) | 7,600 | 93,143 | |
Mitsubishi Gas Chemical Co., Inc. | 1,600 | 23,998 | |
Mitsui & Co., Ltd. | 1,400 | 54,642 | |
Mitsui Chemicals, Inc. | 1,300 | 37,380 | |
Mitsui Fudosan Co., Ltd. | 5,100 | 104,779 | |
Mizuho Financial Group, Inc. | 5,630 | 95,515 | |
MS&AD Insurance Group Holdings, Inc. | 1,800 | 66,948 | |
Murata Manufacturing Co., Ltd. | 1,500 | 89,103 | |
NEC Corp. | 1,500 | 75,893 | |
Nexon Co., Ltd.(1) | 3,000 | 57,238 | |
Nintendo Co., Ltd. | 4,000 | 180,939 | |
Nippon Accommodations Fund, Inc. | 8 | 37,920 |
5
Tax-Managed International Equity Portfolio
July 31, 2023
Portfolio of Investments (Unaudited) — continued
Security | Shares | Value | |
Japan (continued) | |||
Nippon Building Fund, Inc.(1) | 11 | $ 46,110 | |
Nippon Paint Holdings Co., Ltd. | 7,300 | 66,885 | |
Nippon Sanso Holdings Corp. | 2,300 | 55,617 | |
Nippon Shokubai Co., Ltd. | 600 | 23,098 | |
Nippon Steel Corp. | 3,600 | 82,283 | |
Nippon Telegraph & Telephone Corp. | 125,000 | 143,340 | |
Nissan Chemical Corp. | 900 | 40,442 | |
Nissan Motor Co., Ltd. | 10,300 | 45,373 | |
Nisshin Seifun Group, Inc. | 4,900 | 60,765 | |
Nissin Foods Holdings Co., Ltd. | 700 | 59,021 | |
Nitto Denko Corp. | 700 | 49,778 | |
NOF Corp. | 800 | 34,523 | |
Nomura Real Estate Master Fund, Inc. | 63 | 74,954 | |
Nomura Research Institute, Ltd. | 2,000 | 56,830 | |
NTT Data Group Corp. | 4,400 | 61,209 | |
Obic Co., Ltd. | 300 | 49,092 | |
Olympus Corp. | 5,000 | 81,585 | |
Omron Corp. | 800 | 42,941 | |
Ono Pharmaceutical Co., Ltd. | 2,500 | 45,813 | |
Oriental Land Co., Ltd. | 2,500 | 95,884 | |
Orix JREIT, Inc. | 47 | 59,794 | |
Osaka Gas Co., Ltd. | 5,500 | 86,542 | |
Otsuka Holdings Co., Ltd. | 2,400 | 88,242 | |
Pan Pacific International Holdings Corp. | 2,000 | 39,543 | |
Panasonic Holdings Corp. | 5,400 | 66,654 | |
Resona Holdings, Inc. | 12,400 | 67,507 | |
Resonac Holdings Corp. | 1,600 | 26,211 | |
ROHM Co., Ltd. | 200 | 18,742 | |
Rohto Pharmaceutical Co., Ltd. | 1,600 | 34,103 | |
SECOM Co., Ltd. | 600 | 40,263 | |
Sekisui House, Ltd. | 2,000 | 40,803 | |
Shimadzu Corp.(1) | 1,200 | 36,445 | |
Shimano, Inc. | 300 | 45,218 | |
Shionogi & Co., Ltd. | 1,500 | 62,862 | |
Shizuoka Financial Group, Inc. | 5,800 | 48,442 | |
SMC Corp. | 100 | 52,256 | |
SoftBank Corp. | 11,800 | 131,033 | |
Sompo Holdings, Inc. | 1,200 | 53,053 | |
Square Enix Holdings Co., Ltd. | 700 | 32,424 | |
Subaru Corp. | 2,400 | 45,489 | |
Sumitomo Chemical Co., Ltd.(1) | 10,900 | 33,617 | |
Sumitomo Corp. | 1,600 | 34,325 | |
Sumitomo Metal Mining Co., Ltd. | 1,100 | 37,989 | |
Sumitomo Mitsui Financial Group, Inc. | 2,700 | 126,499 | |
Sumitomo Mitsui Trust Holdings, Inc. | 1,500 | 58,353 | |
Suzuki Motor Corp. | 600 | 24,099 |
Security | Shares | Value | |
Japan (continued) | |||
T&D Holdings, Inc. | 2,800 | $ 45,525 | |
Takeda Pharmaceutical Co., Ltd. | 5,000 | 152,874 | |
TDK Corp. | 1,000 | 38,308 | |
TEIJIN, Ltd. | 3,300 | 35,296 | |
Toho Co., Ltd. | 500 | 19,492 | |
Tohoku Electric Power Co., Inc.(2) | 12,500 | 83,140 | |
Tokio Marine Holdings, Inc. | 5,900 | 135,670 | |
Tokyo Gas Co., Ltd. | 4,100 | 92,972 | |
Tokyu Corp.(1) | 2,000 | 25,375 | |
Toppan, Inc. | 2,000 | 47,077 | |
Toray Industries, Inc. | 6,900 | 38,636 | |
Toshiba Corp. | 800 | 25,829 | |
Tosoh Corp. | 2,200 | 28,756 | |
Toyo Suisan Kaisha, Ltd. | 1,000 | 41,362 | |
Toyota Industries Corp. | 400 | 28,907 | |
Toyota Motor Corp. | 13,600 | 228,667 | |
Trend Micro, Inc. | 600 | 28,347 | |
United Urban Investment Corp. | 35 | 37,778 | |
Yakult Honsha Co., Ltd.(1) | 1,000 | 55,486 | |
Yamato Holdings Co., Ltd.(1) | 2,000 | 37,456 | |
Yamato Kogyo Co., Ltd. | 1,000 | 47,819 | |
Yamazaki Baking Co., Ltd. | 3,800 | 54,687 | |
$ 9,089,113 | |||
Netherlands — 4.4% | |||
ABN AMRO Bank NV GDR(3) | 2,263 | $ 38,478 | |
Aegon NV(1) | 12,248 | 66,486 | |
Akzo Nobel NV | 683 | 58,429 | |
Alfen NV(2)(3) | 256 | 17,765 | |
Arcadis NV | 649 | 28,453 | |
ASML Holding NV | 646 | 462,710 | |
ASR Nederland NV | 1,620 | 73,434 | |
Corbion NV | 2,072 | 48,692 | |
Euronext NV(3) | 576 | 43,842 | |
EXOR N.V. | 350 | 32,706 | |
Flow Traders, Ltd. | 619 | 13,466 | |
JDE Peet's NV | 1,640 | 49,494 | |
Koninklijke Ahold Delhaize NV | 9,251 | 318,869 | |
Koninklijke DSM NV | 1,929 | 198,138 | |
Koninklijke KPN NV | 65,476 | 236,909 | |
Koninklijke Philips NV | 17,139 | 356,039 | |
NN Group NV | 1,992 | 76,363 | |
NSI NV(1) | 1,000 | 21,034 | |
Prosus NV(2) | 5,062 | 400,441 | |
Randstad NV | 683 | 40,014 | |
SBM Offshore NV | 4,496 | 65,318 |
6
Tax-Managed International Equity Portfolio
July 31, 2023
Portfolio of Investments (Unaudited) — continued
Security | Shares | Value | |
Netherlands (continued) | |||
Signify NV(3) | 1,727 | $ 54,299 | |
Universal Music Group NV(1) | 7,168 | 183,859 | |
Wolters Kluwer NV | 1,682 | 211,219 | |
$ 3,096,457 | |||
New Zealand — 1.1% | |||
a2 Milk Co., Ltd. (The)(2) | 28,790 | $ 98,777 | |
Auckland International Airport, Ltd.(2) | 12,240 | 63,896 | |
Contact Energy, Ltd. | 9,580 | 49,467 | |
Fisher & Paykel Healthcare Corp., Ltd. | 5,931 | 90,549 | |
Fletcher Building, Ltd. | 7,381 | 25,591 | |
Goodman Property Trust | 27,739 | 38,948 | |
Heartland Group Holdings, Ltd. | 19,544 | 21,855 | |
Kiwi Property Group, Ltd. | 57,056 | 33,694 | |
KMD Brands, Ltd. | 27,332 | 15,455 | |
Mercury NZ, Ltd. | 13,643 | 55,869 | |
SKYCITY Entertainment Group, Ltd. | 29,814 | 41,858 | |
Spark New Zealand, Ltd. | 30,866 | 99,374 | |
Vital Healthcare Property Trust | 16,339 | 24,057 | |
Vulcan Steel, Ltd.(1) | 3,600 | 18,772 | |
Xero, Ltd.(2) | 1,231 | 101,190 | |
$ 779,352 | |||
Norway — 2.2% | |||
Aker ASA, Class A | 499 | $ 31,730 | |
Aker BP ASA | 1,654 | 46,333 | |
ArcticZymes Technologies ASA(1)(2) | 4,268 | 15,780 | |
Atea ASA(2) | 6,274 | 85,206 | |
Austevoll Seafood ASA | 3,899 | 29,275 | |
Borregaard ASA | 2,485 | 40,556 | |
Crayon Group Holding ASA(1)(2)(3) | 2,500 | 26,619 | |
DNB Bank ASA(1) | 6,189 | 127,540 | |
Entra ASA(3) | 2,972 | 28,989 | |
Equinor ASA | 4,744 | 145,112 | |
Europris ASA(1)(3) | 9,810 | 59,513 | |
Gjensidige Forsikring ASA | 1,701 | 26,853 | |
Kitron ASA | 9,412 | 34,785 | |
Kongsberg Gruppen ASA | 1,873 | 81,272 | |
Leroy Seafood Group ASA | 6,500 | 27,043 | |
Norsk Hydro ASA | 12,282 | 80,440 | |
Nykode Therapeutics ASA(1)(2) | 7,954 | 22,850 | |
Opera, Ltd. ADR | 3,500 | 62,965 | |
Orkla ASA | 8,207 | 64,760 | |
REC Silicon ASA(1)(2) | 16,371 | 27,905 | |
Salmar ASA | 1,246 | 57,563 | |
Scatec ASA(1)(3) | 3,300 | 27,581 |
Security | Shares | Value | |
Norway (continued) | |||
Schibsted ASA, Class B | 2,498 | $ 48,984 | |
SFL Corp, Ltd. | 2,400 | 23,664 | |
SpareBank 1 Nord Norge | 3,559 | 33,897 | |
SpareBank 1 SMN | 2,095 | 29,358 | |
Telenor ASA | 11,887 | 127,250 | |
TOMRA Systems ASA(1) | 2,450 | 37,756 | |
Veidekke ASA | 3,671 | 41,390 | |
Yara International ASA | 1,966 | 80,295 | |
$ 1,573,264 | |||
Portugal — 1.1% | |||
Banco Comercial Portugues S.A., Class R(2) | 494,993 | $ 135,185 | |
Corticeira Amorim SGPS S.A. | 4,721 | 53,508 | |
CTT-Correios de Portugal S.A. | 12,855 | 50,742 | |
EDP-Energias de Portugal S.A.(1) | 19,728 | 92,166 | |
Galp Energia SGPS S.A. | 11,338 | 150,678 | |
Jeronimo Martins SGPS S.A. | 5,858 | 159,489 | |
Navigator Co. S.A. (The) | 16,287 | 57,088 | |
NOS SGPS S.A. | 17,214 | 65,363 | |
REN-Redes Energeticas Nacionais SGPS S.A. | 11,590 | 31,648 | |
$ 795,867 | |||
Singapore — 2.2% | |||
BW LPG, Ltd.(3) | 3,082 | $ 32,984 | |
CapitaLand Ascendas REIT | 23,500 | 49,694 | |
CapitaLand Ascott Trust | 655 | 552 | |
CapitaLand Investment, Ltd. | 11,500 | 29,434 | |
ComfortDelGro Corp., Ltd. | 36,500 | 34,618 | |
DBS Group Holdings, Ltd. | 2,800 | 72,232 | |
Flex, Ltd.(2) | 6,557 | 179,399 | |
Genting Singapore, Ltd. | 108,600 | 76,815 | |
Golden Agri-Resources, Ltd. | 170,500 | 32,107 | |
Keppel Corp., Ltd. | 8,600 | 47,758 | |
Mapletree Industrial Trust | 18,060 | 30,433 | |
Mapletree Pan Asia Commercial Trust | 18,500 | 22,977 | |
Raffles Medical Group, Ltd. | 38,400 | 40,463 | |
Sea, Ltd. ADR(2) | 1,816 | 120,800 | |
Sembcorp Industries, Ltd. | 21,400 | 87,727 | |
Sembcorp Marine, Ltd.(2) | 164,131 | 17,395 | |
Singapore Airlines, Ltd.(1) | 14,800 | 83,842 | |
Singapore Exchange, Ltd. | 7,000 | 51,168 | |
Singapore Post, Ltd. | 26,100 | 9,816 | |
Singapore Technologies Engineering, Ltd. | 19,500 | 54,746 | |
Singapore Telecommunications, Ltd. | 42,000 | 84,255 | |
Suntec Real Estate Investment Trust | 27,000 | 26,200 | |
United Overseas Bank, Ltd. | 4,500 | 102,076 |
7
Tax-Managed International Equity Portfolio
July 31, 2023
Portfolio of Investments (Unaudited) — continued
Security | Shares | Value | |
Singapore (continued) | |||
UOL Group, Ltd. | 4,600 | $ 24,339 | |
Venture Corp., Ltd. | 5,000 | 56,370 | |
Wilmar International, Ltd. | 58,400 | 169,695 | |
$ 1,537,895 | |||
Spain — 4.4% | |||
ACS Actividades de Construccion y Servicios S.A. | 1,244 | $ 43,522 | |
Aena SME S.A.(1)(3) | 1,064 | 169,912 | |
Almirall S.A. | 2,798 | 26,840 | |
Amadeus IT Group S.A. | 5,033 | 361,048 | |
Banco Santander S.A.(1) | 61,792 | 250,399 | |
Bankinter S.A. | 12,265 | 79,355 | |
CaixaBank S.A. | 15,438 | 62,450 | |
Cellnex Telecom S.A.(3) | 4,799 | 195,987 | |
Cia de Distribucion Integral Logista Holdings S.A. | 2,665 | 74,154 | |
Ercros S.A. | 8,525 | 29,931 | |
Grifols S.A.(1)(2) | 11,886 | 174,609 | |
Iberdrola S.A. | 25,709 | 320,882 | |
Indra Sistemas S.A. | 3,340 | 48,576 | |
Industria de Diseno Textil S.A.(1) | 12,175 | 466,032 | |
Laboratorios Farmaceuticos Rovi S.A. | 1,773 | 85,127 | |
Merlin Properties Socimi S.A. | 18,476 | 172,177 | |
Metrovacesa S.A.(1)(3) | 2,900 | 23,361 | |
Redeia Corp. S.A. | 2,456 | 41,078 | |
Repsol S.A. | 20,519 | 313,272 | |
Telefonica S.A. | 22,919 | 97,652 | |
Vidrala S.A. | 739 | 75,239 | |
Viscofan S.A. | 825 | 53,560 | |
$ 3,165,163 | |||
Sweden — 4.3% | |||
Alfa Laval AB(1) | 1,197 | $ 44,808 | |
Arjo AB, Class B(1) | 8,801 | 37,655 | |
Assa Abloy AB, Class B(1) | 2,883 | 69,316 | |
Atlas Copco AB, Class B(1) | 2,446 | 30,206 | |
Atrium Ljungberg AB, Class B | 1,211 | 23,751 | |
Billerud Aktiebolag | 2,548 | 21,728 | |
BioArctic AB, Class B(2)(3) | 1,352 | 38,740 | |
BioGaia AB, Class B | 4,605 | 45,650 | |
Biotage AB | 1,896 | 23,404 | |
Boliden AB | 3,310 | 97,345 | |
Camurus AB(2) | 1,249 | 35,287 | |
Castellum AB(1) | 6,675 | 76,016 | |
Catena AB | 932 | 35,803 | |
Cibus Nordic Real Estate AB | 2,069 | 23,266 | |
Electrolux AB, Class B | 3,051 | 37,684 |
Security | Shares | Value | |
Sweden (continued) | |||
Elekta AB, Class B | 5,121 | $ 41,486 | |
Embracer Group AB, Class B(1)(2) | 19,780 | 56,774 | |
Epiroc AB, Class A | 2,897 | 57,841 | |
Essity AB, Class B(1) | 12,073 | 299,366 | |
Evolution AB(3) | 1,309 | 161,416 | |
Fabege AB(1) | 7,085 | 61,359 | |
Getinge AB, Class B(1) | 3,014 | 56,160 | |
H & M Hennes & Mauritz AB, Class B(1) | 3,007 | 50,577 | |
Hemnet Group AB(1) | 2,581 | 45,721 | |
Hexagon AB, Class B(1) | 9,464 | 91,761 | |
Holmen AB, Class B | 2,532 | 97,535 | |
Hufvudstaden AB, Class A | 2,401 | 29,394 | |
Husqvarna AB, Class B | 3,790 | 37,175 | |
Industrivarden AB, Class A | 1,060 | 30,101 | |
Industrivarden AB, Class C(1) | 1,534 | 43,459 | |
Investor AB, Class A | 2,160 | 43,866 | |
JM AB(1) | 2,031 | 31,911 | |
L E Lundbergforetagen AB, Class B | 517 | 22,784 | |
Millicom International Cellular S.A., SDR(2) | 3,136 | 48,693 | |
Modern Times Group MTG AB, Class B(2) | 4,037 | 26,257 | |
Mycronic AB | 2,681 | 57,695 | |
Nyfosa AB(1) | 5,192 | 32,937 | |
Orron Energy AB(2) | 4,713 | 5,448 | |
Pandox AB | 1,960 | 23,111 | |
Paradox Interactive AB | 1,527 | 43,818 | |
Sandvik AB(1) | 1,635 | 33,211 | |
Securitas AB, Class B(1) | 1,900 | 16,172 | |
Skandinaviska Enskilda Banken AB, Class A | 4,744 | 57,508 | |
Skanska AB, Class B(1) | 1,238 | 19,745 | |
SKF AB, Class B | 1,170 | 22,291 | |
Stillfront Group AB(2) | 16,614 | 30,746 | |
Svenska Cellulosa AB SCA, Class B | 9,048 | 120,225 | |
Svenska Handelsbanken AB, Class A | 7,120 | 62,513 | |
Swedbank AB, Class A | 4,828 | 88,554 | |
Swedish Orphan Biovitrum AB(2) | 3,003 | 58,778 | |
Tele2 AB, Class B | 5,717 | 43,018 | |
Telefonaktiebolaget LM Ericsson, Class B | 25,375 | 127,648 | |
Telia Co. AB(1) | 24,113 | 51,818 | |
Tethys Oil AB(2) | 4,284 | 21,595 | |
Thule Group AB(1)(3) | 1,277 | 39,876 | |
Truecaller AB, Class B(1)(2) | 6,505 | 25,768 | |
Volvo AB, Class B | 2,767 | 61,036 | |
Wallenstam AB, Class B(1) | 7,080 | 27,601 | |
Wihlborgs Fastigheter AB(1) | 6,283 | 49,132 | |
$ 3,094,539 |
8
Tax-Managed International Equity Portfolio
July 31, 2023
Portfolio of Investments (Unaudited) — continued
Security | Shares | Value | |
Switzerland — 9.0% | |||
ABB, Ltd. | 2,488 | $ 99,837 | |
ALSO Holding AG | 245 | 56,064 | |
Baloise Holding AG | 396 | 61,296 | |
Banque Cantonale Vaudoise | 570 | 63,978 | |
BKW AG | 330 | 59,052 | |
Bucher Industries AG | 149 | 66,396 | |
Cembra Money Bank AG | 670 | 50,855 | |
Cie Financiere Richemont S.A., Class A | 5,971 | 961,527 | |
Clariant AG(2) | 3,924 | 64,299 | |
DKSH Holding AG | 773 | 62,376 | |
EMS-Chemie Holding AG | 104 | 86,804 | |
Flughafen Zurich AG | 295 | 62,451 | |
Forbo Holding AG | 26 | 37,403 | |
Galenica AG(3) | 858 | 69,052 | |
Givaudan S.A. | 78 | 263,287 | |
Helvetia Holding AG | 425 | 62,893 | |
Holcim, Ltd.(2) | 4,531 | 315,797 | |
Intershop Holding AG | 78 | 53,842 | |
Julius Baer Group, Ltd. | 822 | 58,220 | |
Kuehne & Nagel International AG | 464 | 145,184 | |
Landis & Gyr Group AG(2) | 1,111 | 96,467 | |
LEM Holding S.A. | 13 | 31,265 | |
Logitech International S.A. | 2,732 | 193,149 | |
Meyer Burger Technology AG(1)(2) | 49,710 | 29,887 | |
Nestle S.A. | 6,891 | 844,279 | |
Novartis AG | 4,303 | 450,512 | |
PSP Swiss Property AG | 379 | 44,661 | |
Roche Holding AG PC | 1,250 | 387,564 | |
Schindler Holding AG | 320 | 74,196 | |
Schindler Holding AG PC | 353 | 85,714 | |
Schweiter Technologies AG | 45 | 34,639 | |
SGS S.A. | 900 | 87,385 | |
SIG Group AG(2) | 5,783 | 154,601 | |
Softwareone Holding AG(1)(2) | 1,719 | 36,791 | |
Stadler Rail AG(1) | 1,511 | 60,678 | |
Swatch Group AG (The), Bearer Shares | 279 | 89,291 | |
Swiss Life Holding AG | 139 | 88,384 | |
Swiss Prime Site AG | 1,669 | 161,575 | |
Swiss Re AG | 1,001 | 104,444 | |
Swisscom AG | 366 | 235,358 | |
Vontobel Holding AG | 351 | 23,646 | |
Zehnder Group AG | 691 | 50,610 | |
Zurich Insurance Group AG | 683 | 330,229 | |
$ 6,395,938 |
Security | Shares | Value | |
United Kingdom — 8.7% | |||
Admiral Group PLC | 1,052 | $ 28,723 | |
Airtel Africa PLC(3) | 30,067 | 44,959 | |
Assura PLC | 34,782 | 21,154 | |
AstraZeneca PLC | 4,331 | 622,262 | |
Aviva PLC | 9,030 | 44,989 | |
BAE Systems PLC | 8,600 | 102,848 | |
Barclays PLC | 15,390 | 30,538 | |
Bellway PLC | 608 | 17,289 | |
Berkeley Group Holdings PLC | 509 | 28,381 | |
Big Yellow Group PLC | 2,400 | 33,029 | |
British American Tobacco PLC | 3,774 | 126,913 | |
British Land Co. PLC (The) | 7,389 | 32,062 | |
BT Group PLC | 59,183 | 92,739 | |
Bunzl PLC | 1,400 | 51,895 | |
Burberry Group PLC | 3,492 | 99,680 | |
Centrica PLC | 39,130 | 69,344 | |
Compass Group PLC | 7,473 | 194,430 | |
Computacenter PLC | 1,269 | 35,801 | |
Croda International PLC | 729 | 55,195 | |
Darktrace PLC(2) | 8,597 | 40,772 | |
Derwent London PLC | 1,020 | 27,718 | |
Direct Line Insurance Group PLC | 9,041 | 17,459 | |
DS Smith PLC | 10,893 | 43,309 | |
Energean PLC | 2,448 | 36,426 | |
Experian PLC | 2,304 | 89,039 | |
FDM Group Holdings PLC | 2,454 | 17,230 | |
Fresnillo PLC | 1,893 | 15,002 | |
Glencore PLC | 17,997 | 109,448 | |
Grainger PLC | 11,835 | 38,244 | |
Great Portland Estates PLC | 4,065 | 22,306 | |
HSBC Holdings PLC | 24,849 | 206,406 | |
Imperial Brands PLC | 1,728 | 40,825 | |
Informa PLC | 12,336 | 120,028 | |
InterContinental Hotels Group PLC | 751 | 55,504 | |
Intertek Group PLC | 543 | 30,418 | |
ITV PLC | 50,477 | 46,877 | |
Land Securities Group PLC | 5,823 | 48,359 | |
Lloyds Banking Group PLC | 135,333 | 78,188 | |
London Stock Exchange Group PLC | 726 | 78,840 | |
LondonMetric Property PLC | 11,374 | 26,983 | |
LXi REIT PLC | 17,784 | 21,731 | |
Manchester United PLC, Class A(1)(2) | 1,700 | 37,672 | |
Mondi PLC | 3,379 | 59,270 | |
Moneysupermarket.com Group PLC | 7,023 | 24,751 | |
National Grid PLC | 21,398 | 283,626 | |
NCC Group PLC | 21,199 | 26,243 |
9
Tax-Managed International Equity Portfolio
July 31, 2023
Portfolio of Investments (Unaudited) — continued
Security | Shares | Value | |
United Kingdom (continued) | |||
Next PLC | 582 | $ 52,636 | |
Pearson PLC | 5,346 | 59,135 | |
Persimmon PLC | 2,761 | 41,048 | |
Phoenix Group Holdings PLC | 5,262 | 37,177 | |
Primary Health Properties PLC | 23,037 | 27,982 | |
QinetiQ Group PLC | 8,311 | 34,412 | |
Reckitt Benckiser Group PLC | 1,454 | 108,922 | |
RELX PLC | 4,013 | 135,064 | |
Renishaw PLC | 635 | 31,816 | |
Rentokil Initial PLC | 5,526 | 45,060 | |
Rio Tinto PLC | 3,415 | 225,724 | |
Rolls-Royce Holdings PLC(2) | 22,073 | 52,338 | |
Safestore Holdings PLC | 3,803 | 43,232 | |
Sage Group PLC (The) | 15,349 | 184,627 | |
Severn Trent PLC | 3,397 | 111,333 | |
Shaftesbury Capital PLC | 16,689 | 25,659 | |
Shell PLC | 17,692 | 536,205 | |
Smiths Group PLC | 1,154 | 25,168 | |
Softcat PLC | 2,104 | 40,539 | |
Spectris PLC | 1,446 | 65,255 | |
Spirax-Sarco Engineering PLC | 358 | 51,129 | |
Spirent Communications PLC | 11,297 | 24,552 | |
Standard Chartered PLC | 5,917 | 56,836 | |
Supermarket Income REIT PLC | 20,430 | 19,998 | |
Taylor Wimpey PLC | 39,034 | 57,296 | |
Tesco PLC | 31,547 | 104,486 | |
Tritax Big Box REIT PLC | 37,589 | 66,653 | |
Unilever PLC | 3,393 | 182,316 | |
UNITE Group PLC (The) | 3,167 | 39,542 | |
United Utilities Group PLC | 9,445 | 121,118 | |
Vodafone Group PLC | 181,551 | 172,702 | |
$ 6,154,865 | |||
Total Common Stocks (identified cost $62,669,522) | $70,591,685 |
Short-Term Investments — 4.6% |
Affiliated Fund — 0.5% |
Security | Shares | Value | |
Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 5.19%(4) | 321,365 | $ 321,365 | |
Total Affiliated Fund (identified cost $321,365) | $ 321,365 |
Securities Lending Collateral — 4.1% |
Security | Shares | Value | |
State Street Navigator Securities Lending Government Money Market Portfolio, 5.34%(5) | 2,942,731 | $ 2,942,731 | |
Total Securities Lending Collateral (identified cost $2,942,731) | $ 2,942,731 | ||
Total Short-Term Investments (identified cost $3,264,096) | $ 3,264,096 |
Total Investments — 103.9% (identified cost $65,933,618) | $73,855,781 | ||
Other Assets, Less Liabilities — (3.9)% | $(2,780,757) | ||
Net Assets — 100.0% | $71,075,024 |
The percentage shown for each investment category in the Portfolio of Investments is based on net assets. | |
(1) | All or a portion of this security was on loan at July 31, 2023. The aggregate market value of securities on loan at July 31, 2023 was $6,106,349 and the total market value of the collateral received by the Portfolio was $6,440,791, comprised of cash of $2,942,731 and U.S. government and/or agencies securities of $3,498,060. |
(2) | Non-income producing security. |
(3) | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At July 31, 2023, the aggregate value of these securities is $2,350,833 or 3.3% of the Portfolio's net assets. |
(4) | May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of July 31, 2023. |
(5) | Represents investment of cash collateral received in connection with securities lending. |
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Tax-Managed International Equity Portfolio
July 31, 2023
Portfolio of Investments (Unaudited) — continued
Sector Classification of Portfolio | ||
Sector | Percentage of Net Assets | Value |
Consumer Discretionary | 11.5% | $8,174,791 |
Financials | 11.4 | 8,082,129 |
Industrials | 11.2 | 7,976,474 |
Health Care | 9.9 | 7,021,157 |
Consumer Staples | 9.7 | 6,921,971 |
Materials | 9.2 | 6,529,349 |
Information Technology | 8.5 | 6,007,979 |
Communication Services | 8.4 | 5,977,814 |
Utilities | 7.4 | 5,292,057 |
Real Estate | 7.0 | 4,963,904 |
Energy | 5.1 | 3,644,060 |
Short-Term Investments | 4.6 | 3,264,096 |
Total | 103.9% | $73,855,781 |
Abbreviations: | |
ADR | – American Depositary Receipt |
CDI | – CHESS Depositary Interest |
GDR | – Global Depositary Receipt |
PC | – Participation Certificate |
PFC Shares | – Preference Shares |
REITs | – Real Estate Investment Trusts |
SDR | – Swedish Depositary Receipt |
The Portfolio did not have any open derivative instruments at July 31, 2023.
Affiliated Investments
At July 31, 2023, the value of the Portfolio's investment in issuers and funds that may be deemed to be affiliated was $321,365, which represents 0.5% of the Portfolio's net assets. Transactions in such investments by the Portfolio for the fiscal year to date ended July 31, 2023 were as follows:
Name | Value, beginning of period | Purchases | Sales proceeds | Net realized gain (loss) | Change in unrealized appreciation (depreciation) | Value, end of period | Dividend income | Shares, end of period |
Common Stocks | ||||||||
Mitsubishi UFJ Financial Group, Inc. | $136,519 | $ — | $(206,765) | $54,003 | $16,243 | $ — | $ — | — |
Short-Term Investments | ||||||||
Liquidity Fund, Institutional Class(1) | 161,268 | 3,886,407 | (3,726,310) | — | — | 321,365 | 3,505 | 321,365 |
Total | $54,003 | $16,243 | $321,365 | $3,505 |
(1) | Represents investment in Morgan Stanley Institutional Liquidity Funds - Government Portfolio. |
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Tax-Managed International Equity Portfolio
July 31, 2023
Portfolio of Investments (Unaudited) — continued
Fair Value Measurements
Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. The three-tier hierarchy of inputs is summarized in the three broad levels listed below.
• | Level 1 – quoted prices in active markets for identical investments |
• | Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) |
• | Level 3 – significant unobservable inputs (including a fund's own assumptions in determining the fair value of investments) |
In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
At July 31, 2023, the hierarchy of inputs used in valuing the Portfolio's investments, which are carried at value, were as follows:
Asset Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks: | ||||
Asia/Pacific | $ 300,199 | $20,560,036 | $ — | $20,860,235 |
Developed Europe | 1,633,308 | 46,477,830 | — | 48,111,138 |
Developed Middle East | 240,333 | 1,379,979 | — | 1,620,312 |
Total Common Stocks | $2,173,840 | $68,417,845* | $ — | $70,591,685 |
Short-Term Investments: | ||||
Affiliated Fund | $ 321,365 | $ — | $ — | $ 321,365 |
Securities Lending Collateral | 2,942,731 | — | — | 2,942,731 |
Total Investments | $5,437,936 | $68,417,845 | $ — | $73,855,781 |
* | Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets. |
Level 3 investments at the beginning and/or end of the period in relation to net assets were valued at $0 and accordingly, a reconciliation of Level 3 assets for the fiscal year to date ended July 31, 2023 is not presented.
For information on the Portfolio's policy regarding the valuation of investments and other significant accounting policies, please refer to the Portfolio's most recent financial statements included in its semiannual or annual report to shareholders.
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