Federated Hermes Global Allocation Fund
Portfolio of Investments
August 31, 2021 (unaudited)
Shares, Principal Amount or Contracts | Value | ||
COMMON STOCKS—67.4% | |||
Communication Services—5.4% | |||
14,658 | Activision Blizzard, Inc. | $1,207,379 | |
521,541 | 1 | Alibaba Pictures Group Ltd. | 55,583 |
1,226 | 1 | Alphabet, Inc., Class A | 3,547,983 |
1,164 | 1 | Alphabet, Inc., Class C | 3,386,355 |
41,843 | America Movil S.A.B. de C.V. | 41,022 | |
224 | ATN International, Inc. | 10,212 | |
68,463 | Auto Trader Group PLC | 592,162 | |
849 | 1 | Baidu, Inc., ADR | 133,310 |
1,700 | Capcom Co. Ltd. | 47,399 | |
3,377 | 1 | CarGurus, Inc. | 102,593 |
1 | Cheil Communications, Inc. | 20 | |
4,084 | 1 | China Literature Ltd. | 34,255 |
369,966 | China Tower Corp Ltd. | 48,527 | |
1 | Cyfrowy Polsat, S.A. | 10 | |
3,455 | E.W. Scripps Co. | 64,056 | |
4,832 | 1 | Facebook, Inc. | 1,833,164 |
5,884 | 1 | GOGO, Inc. | 79,140 |
8,125 | Gray Television, Inc. | 184,762 | |
2,298 | Hellenic Telecommunication Organization SA | 45,241 | |
2 | 1 | Hello Group, Inc., ADR | 26 |
2 | 1 | HUYA, Inc., ADR | 21 |
610 | IDT Corp. | 26,523 | |
1,345 | 1 | Info Edge India Ltd. | 113,892 |
2 | 1 | iQIYI, Inc., ADR | 18 |
603 | Kakao Corp. | 80,343 | |
5,846 | LG Uplus Corp. | 70,710 | |
3,071 | 1 | Loral Space & Communications Ltd. | 129,013 |
44 | 1 | Meredith Corp. | 1,892 |
18,822 | 1 | Mobile Telecommunications Co. Saudi Arabia | 72,668 |
10,162 | Mobile Telesystems, ADR | 95,320 | |
16,699 | 1 | MTN Group Ltd. | 153,677 |
4,778 | NetEase, Inc. | 92,475 | |
12,061 | New York Times Co., Class A | 612,458 | |
1 | News Corp., Inc., Class A | 22 | |
44,915 | News Corp., Inc., Class B | 989,477 | |
506 | NHN Corp. | 191,141 | |
883 | Nintendo Co. Ltd. | 424,368 | |
13,875 | Omnicom Group, Inc. | 1,015,927 | |
8,159 | 1 | Orbcomm, Inc. | 93,747 |
9,672 | 1 | Pinterest, Inc. | 537,473 |
23,224 | Proximus | 455,200 | |
15,898 | Quebecor, Inc., Class B | 396,678 | |
206 | Saudi Telecom Co. | 7,413 | |
10,636 | Scout24 Holding GmbH | 893,939 |
1
Shares, Principal Amount or Contracts | Value | ||
COMMON STOCKS—continued | |||
Communication Services—continued | |||
431 | SK Telecom Co. Ltd. | $110,577 | |
12,442 | 1 | Skillz, Inc. | 146,442 |
6,949 | Square Enix Holdings Co. Ltd. | 403,399 | |
174 | 1 | TechTarget, Inc. | 14,717 |
678 | Tegna, Inc. | 12,014 | |
274,568 | Telefonica Deutschland Holding AG | 770,399 | |
9,722 | Telefonica SA | 48,032 | |
7,498 | Telenor ASA | 131,391 | |
22,496 | Tencent Holdings Ltd. | 1,384,252 | |
2,436 | 1 | Thryv Holdings, Inc. | 75,492 |
37,187 | TIM S.A./Brazil | 89,609 | |
10,708 | Vodacom Group Ltd. | 105,857 | |
1 | 1 | Vonage Holdings Corp. | 14 |
1,543 | 1 | Weibo Corp., ADR | 77,952 |
2,235 | 1 | Yandex N.V. | 169,493 |
5,301 | 1 | Zillow Group, Inc. | 506,776 |
1 | 1 | Zillow Group, Inc. | 96 |
69,923 | 1 | Zynga, Inc. | 618,819 |
TOTAL | 22,532,925 | ||
Consumer Discretionary—7.9% | |||
8,626 | ABC-Mart, Inc. | 461,407 | |
2,129 | 1 | Abercrombie & Fitch Co., Class A | 76,133 |
1,616 | 1 | Academy Sports and Outdoors, Inc. | 71,540 |
907 | 1 | Adtalem Global Education, Inc. | 33,559 |
54,008 | 1 | Alibaba Group Holding Ltd. | 1,130,789 |
1,745 | 1 | Amazon.com, Inc. | 6,056,529 |
1,000 | Anta Sports Products Ltd. | 20,584 | |
26,096 | Aramark | 907,880 | |
426 | 1 | Asbury Automotive Group, Inc. | 79,338 |
2,638 | Balkrishna Industries Ltd. | 82,909 | |
17,755 | Berkeley Group Holdings PLC | 1,178,742 | |
1,723 | Big Lots, Inc. | 83,841 | |
1 | Block (H&R), Inc. | 26 | |
5,570 | BYD Co. Ltd. | 188,250 | |
2,200 | BYD Co. Ltd. | 94,479 | |
6,545 | Canadian Tire Corp. Ltd. | 996,029 | |
8,497 | 1 | Capri Holdings Ltd. | 480,165 |
1 | 1 | Carnival Corp. | 24 |
3,255 | Carriage Services, Inc. | 150,479 | |
10,930 | Casio Computer Co. Ltd. | 168,657 | |
16,068 | China Meidong Auto Holdings Ltd. | 80,629 | |
22,474 | Chongqing Changan Automobile Co. Ltd. | 71,702 | |
1 | Coway Co. Ltd. | 67 | |
1,756 | 1 | CROCs, Inc. | 250,792 |
254 | Dillards, Inc., Class A | 48,377 | |
1,969 | 1 | Dine Brands Global, Inc. | 162,876 |
618 | 1 | DoorDash, Inc. | 118,285 |
2,171 | eBay, Inc. | 166,603 | |
2,300 | Ecovacs Robotics Co. Ltd. | 52,118 |
2
Shares, Principal Amount or Contracts | Value | ||
COMMON STOCKS—continued | |||
Consumer Discretionary—continued | |||
1,148 | 1 | Etsy, Inc. | $248,266 |
1,559 | 1 | Everi Holdings, Inc. | 35,467 |
2,654 | Evolution AB | 429,220 | |
13,291 | Fuyao Glass Industry Group Co. Ltd. | 81,750 | |
7,012 | Gildan Activewear, Inc. | 269,553 | |
521,777 | 1 | Gome Electrical Appliances Holdings Ltd. | 56,285 |
26,928 | Great Wall Motor Company Limited | 123,612 | |
1 | Greek Organization of Football Prognostics | 16 | |
2,856 | 1 | Green Brick Partners, Inc. | 71,371 |
693 | Group 1 Automotive, Inc. | 114,650 | |
26,000 | Haier Smart Home Co. Ltd. | 97,804 | |
1 | Halla Climate Control Co. | 14 | |
2,032 | Hankook Tire Co. Ltd. | 81,485 | |
179 | Hermes International | 262,844 | |
873 | Hibbett, Inc. | 83,537 | |
2,933 | Home Depot, Inc. | 956,686 | |
1,683 | 1 | Houghton Mifflin Harcourt Co. | 22,670 |
165 | Hyundai Motor Co. | 30,135 | |
8,025 | 1 | International Game Technology PLC | 172,457 |
1,385 | Jack in the Box, Inc. | 146,755 | |
5,246 | 1 | JD.com, Inc. | 206,299 |
408 | Johnson Outdoors, Inc., Class A | 46,834 | |
1,750 | Jubilant Foodworks Ltd. | 95,619 | |
640 | Kering | 511,135 | |
2,005 | Kia Corp. | 146,634 | |
4,817 | Koito Manufacturing Co. Ltd. | 294,291 | |
10,649 | La Francaise des Jeux SAEM | 550,798 | |
1,358 | LCI Industries | 192,374 | |
4,539 | Lear Corp. | 725,968 | |
2,643 | Lennar Corp., Class B | 231,315 | |
938 | LG Electronics, Inc. | 114,465 | |
2,000 | Li Ning Co. Ltd. | 26,798 | |
3,213 | Lowe’s Cos., Inc. | 655,099 | |
1 | 1 | Lumber Liquidators, Inc. | 21 |
2,306 | LVMH Moet Hennessy Louis Vuitton SA | 1,712,196 | |
14,303 | Magna International, Inc. | 1,129,480 | |
2,144 | 1 | MarineMax, Inc. | 104,241 |
2,400 | McDonald’s Holdings Co. (Japan), Ltd. | 114,512 | |
10,955 | 1 | Meituan | 349,863 |
225 | 1 | Meritage Corp. | 25,097 |
17,073 | MGM Resorts International | 727,651 | |
1 | Michelin, Class B | 162 | |
3 | Mr. Price Group Ltd. | 45 | |
1,269 | Naspers Ltd., Class N | 217,704 | |
9,290 | Newell Brands, Inc. | 236,059 | |
9,500 | Next PLC | 1,033,627 | |
6,539 | 1 | NIO, Inc., ADR | 257,048 |
12,902 | 1 | Norwegian Cruise Line Holdings Ltd. | 333,388 |
1,535 | Pandora A/S | 183,777 |
3
Shares, Principal Amount or Contracts | Value | ||
COMMON STOCKS—continued | |||
Consumer Discretionary—continued | |||
1,067 | Patrick Industries, Inc. | $87,078 | |
1 | 1 | Penn National Gaming, Inc. | 81 |
1 | 1 | Perdoceo Education Corp. | 11 |
18,022 | Petrobras Distribuidora SA | 94,766 | |
1,023 | 1 | Pinduoduo, Inc., ADR | 102,320 |
7,787 | 1 | Prosus NV | 691,314 |
400 | PT Astra International Tbk | 146 | |
79,100 | PTT Oil & Retail Business PCL | 74,151 | |
12,789 | Pulte Group, Inc. | 688,816 | |
1,982 | 1 | PVH Corp. | 207,694 |
17,100 | Qingdao Haier Co. Ltd. | 71,530 | |
428 | 1 | Red Rock Resorts, Inc. | 20,035 |
576 | S.A.C.I. Falabella | 2,281 | |
387 | Shimano, Inc. | 113,561 | |
1,489 | Signet Jewelers Ltd. | 117,929 | |
5,445 | Smith & Wesson Brands, Inc. | 131,388 | |
2,752 | 1 | Sportsman’s Warehouse Holdings, Inc. | 48,820 |
2,390 | Standard Motor Products, Inc. | 102,507 | |
12,620 | Stanley Electric Co. Ltd. | 314,818 | |
2,965 | Stellantis N.V. | 59,375 | |
2,074 | Sturm Ruger & Co., Inc. | 162,166 | |
17,444 | Suzuki Motor Corp. | 753,205 | |
2,862 | Target Corp. | 706,857 | |
2 | 1 | Tata Motors Ltd. | 8 |
67,700 | TCL Corp. | 74,612 | |
1,285 | The Aaron’s Company, Inc. | 34,078 | |
31,651 | The Wendy’s Co. | 728,606 | |
1 | Thor Industries, Inc. | 113 | |
3,331 | Topsports International Holdings Ltd. | 4,391 | |
121 | Travel + Leisure Co. | 6,626 | |
4,289 | 1 | Vipshop Holdings Ltd., ADR | 63,434 |
360 | 1 | Vista Outdoor, Inc. | 14,706 |
538 | 1 | Wayfair, Inc. | 151,044 |
1 | Woolworths Holdings Ltd. | 4 | |
4,777 | Wyndham Hotels & Resorts, Inc. | 347,288 | |
31 | 1,2 | XPEL, Inc. | 2,355 |
1 | 1 | XPeng, Inc., ADR | 43 |
48,271 | Yadae Group Holdings Ltd. | 85,650 | |
405 | Yum China Holding, Inc. | 24,932 | |
10,275 | Zhongsheng Group Holdings | 85,668 | |
1 | 1 | Zumiez, Inc. | 40 |
TOTAL | 32,894,333 | ||
Consumer Staples—3.5% | |||
2,515 | Abdullah Al Othaim Markets Co. | 77,246 | |
6,766 | Alimentation Couche-Tard, Inc., Class B | 273,397 | |
5,659 | Almarai Co, Ltd. | 87,504 | |
41,163 | Ambev SA | 136,127 | |
1,620 | 1 | Beauty Health Co./The | 41,650 |
31,707 | Becle SA de CV | 81,320 |
4
Shares, Principal Amount or Contracts | Value | ||
COMMON STOCKS—continued | |||
Consumer Staples—continued | |||
990 | 1 | Bellring Brands, Inc. | $33,432 |
11,531 | BIM Birlesik Magazalar AS | 99,624 | |
2,390 | 1 | BJ’s Wholesale Club Holdings, Inc. | 135,417 |
875 | Calavo Growers, Inc. | 41,055 | |
201,700 | Charoen Pokphand Foods Public Co. Ltd. | 90,303 | |
102,424 | Charoen Pokphand Foods Public Co. Ltd. | 85,734 | |
10,273 | China Feihe Ltd. | 18,607 | |
24,641 | China Mengniu Dairy Co. Ltd. | 148,164 | |
15,523 | China Resources Enterprises Ltd. | 127,649 | |
123 | CJ CheilJedang Corp. | 48,015 | |
5,013 | Clicks Group, Ltd. | 104,417 | |
3,678 | Colgate-Palmolive (India) Ltd. | 84,902 | |
887 | Cosmos Pharmaceutical Corp. | 156,765 | |
8 | E-Mart Co. Ltd. | 1,231 | |
2,929 | Empire Co. Ltd., Class A | 94,720 | |
8,290 | George Weston Ltd. | 893,623 | |
6,899 | Gruma S.A., Class B | 78,594 | |
38,132 | Grupo Bimbo S.A.B. de CV, Class A | 96,298 | |
4,286 | 1 | Herbalife Ltd. | 220,043 |
758 | Hindustan Lever Ltd. | 28,222 | |
12,571 | Hormel Foods Corp. | 572,483 | |
27,618 | Imperial Brands PLC | 585,488 | |
449 | J&J Snack Foods Corp. | 73,528 | |
16,005 | 1 | JBS S.A. | 96,479 |
12,120 | Kesko | 500,517 | |
1 | Kimberly-Clark Corp. | 138 | |
47,592 | Kimberly-Clark de Mexico | 84,454 | |
2,615 | Kobayashi Pharmaceutical Co. Ltd. | 204,556 | |
4,766 | Kobe Bussan Co. Ltd. | 185,392 | |
1,347 | Korea Tobacco & Ginseng Corp. | 94,702 | |
21,066 | Lion Corp. | 358,516 | |
14,239 | Loblaw Cos. Ltd. | 1,003,214 | |
3,581 | L’Oreal SA | 1,678,724 | |
6,300 | 2 | Magnit, GDR | 95,603 |
11,980 | 1 | Marico Ltd. | 89,461 |
3,836 | Metro, Inc., Class A | 195,411 | |
276 | 1 | National Beverage Corp. | 12,848 |
435 | Nestle India Ltd. | 116,112 | |
5,166 | Nestle S.A. | 653,212 | |
16,866 | Perlis Plantations Bhd | 75,277 | |
769 | Pigeon Corp. | 22,249 | |
2,360 | PT Gudang Garam Tbk | 5,465 | |
34,146 | 1 | PT Indofood Sukses Makmur | 14,764 |
18,071 | 1 | Raia Drogasil S.A. | 89,328 |
946 | 1 | Rite Aid Corp. | 16,782 |
50 | Sanderson Farms, Inc. | 9,825 | |
503 | Sanfilippo (John B. & Sons), Inc. | 42,750 | |
7,438 | Savola Group Co. | 79,644 | |
9,550 | Seven & I Holdings Co. Ltd. | 417,760 |
5
Shares, Principal Amount or Contracts | Value | ||
COMMON STOCKS—continued | |||
Consumer Staples—continued | |||
560 | Shanxi Xinghuacun Fen Wine Factory Co. Ltd. | $24,010 | |
8,650 | Shoprite Holdings Ltd. | 109,466 | |
3,232 | Suntory Beverage and Food Ltd. | 129,337 | |
9,509 | Tata Global Beverages Ltd. | 112,793 | |
119,941 | Thai Union Frozen Products Public Co. Ltd. | 73,997 | |
185 | The Anderson’s, Inc. | 5,620 | |
27,892 | The Coca-Cola Co. | 1,570,599 | |
380 | The Spar Group, Ltd. | 5,443 | |
3 | Tiger Brands Ltd. | 38 | |
21,166 | Tingyi (Cayman Isln) Hldg Co. | 37,676 | |
14,193 | Toyo Suisan Kaisha Ltd. | 587,411 | |
7,505 | Tsingtao Brewery Co. Ltd. | 61,424 | |
1,431 | 1 | United Natural Foods, Inc. | 52,661 |
1,434 | 1 | USANA Health Sciences, Inc. | 139,141 |
12,319 | Vector Group Ltd. | 185,031 | |
735,802 | WH Group Ltd. | 638,933 | |
1,526 | Yakult Honsha Co. Ltd. | 87,887 | |
6,700 | Yihai Kerry Arawana Holdings Co., Ltd. | 70,006 | |
TOTAL | 14,550,214 | ||
Energy—1.8% | |||
1,095 | Cactus, Inc. | 41,073 | |
2,006 | 1 | Championx Corp. | 46,800 |
136,942 | China Petroleum & Chemical Corp. | 66,034 | |
1,200 | 1 | Extraction Oil & Gas, Inc. | 54,636 |
6,912 | Exxaro Resources Ltd. | 87,755 | |
48,937 | Exxon Mobil Corp. | 2,668,045 | |
4,405 | 1 | Frank’s International N.V. | 12,686 |
1,347 | GS Holdings Corp. | 49,052 | |
39,031 | Imperial Oil Ltd. | 1,032,969 | |
7,347 | Marathon Petroleum Corp. | 435,457 | |
414 | 1 | Meta Materials, Inc. | 1,925 |
93 | 1 | Nabors Industries Ltd. | 7,844 |
70 | Oasis Petroleum, Inc. | 6,061 | |
11,990 | 1 | Oceaneering International, Inc. | 147,477 |
141 | OMV AG | 7,802 | |
3,853 | Ovintiv, Inc. | 105,033 | |
8,818 | Parkland Fuel Corp. | 263,285 | |
111,177 | PetroChina Co. Ltd. | 48,352 | |
965 | 1 | Petroleo Brasileiro SA | 5,211 |
10,736 | Phillips 66 | 763,222 | |
1,669 | Polski Koncern Naftowy Orlen SA | 32,494 | |
11,890 | 1 | Propetro Holding Corp. | 92,029 |
50,568 | PT United Tractors | 70,970 | |
8,079 | Reliance Industries Ltd. | 249,133 | |
679 | RPC, Inc. | 2,601 | |
385 | Saudi Arabian Oil Co. (Aramco) | 3,608 | |
1,174 | SM Energy Co. | 22,423 | |
2,202 | Soul Pattinson & Co. Ltd. (WH) | 57,659 | |
3,711 | Targa Resources, Inc. | 162,987 |
6
Shares, Principal Amount or Contracts | Value | ||
COMMON STOCKS—continued | |||
Energy—continued | |||
4,924 | Tatneft | $32,512 | |
59,300 | Thai Oil PCL | 91,186 | |
9,142 | Valero Energy Corp. | 606,206 | |
3,506 | 1 | Whiting Petroleum Corp. | 164,607 |
5,421 | World Fuel Services Corp. | 175,424 | |
30,606 | Yanzhou Coal Mining Co. Ltd., Class H | 53,401 | |
TOTAL | 7,667,959 | ||
Financials—10.8% | |||
67 | 1 | 360 Finance, Inc., ADR | 1,528 |
8,848 | AB Industrivarden | 326,221 | |
3 | ABSA Group Ltd. | 33 | |
2,143 | Al Rajhi Bank | 69,131 | |
7,839 | Allstate Corp. | 1,060,460 | |
15,245 | Ally Financial, Inc. | 806,460 | |
5,404 | American International Group, Inc. | 294,842 | |
4,017 | Ameris Bancorp | 197,797 | |
63,232 | Assicurazioni Generali SpA | 1,290,523 | |
1,060 | Axis Bank Ltd. | 11,409 | |
48,846 | B3 SA - Brasil Bolsa Balcao | 132,912 | |
142 | Bajaj Finance Ltd. | 14,611 | |
24,209 | 1 | Banco Bradesco SA | 93,356 |
1,456 | Banco de Credito E Inversiones | 63,070 | |
43,620 | Banco de Oro | 96,333 | |
1,744,500 | Banco Santander Chile SA | 92,179 | |
3,153 | 1 | Bancorp, Inc., DE | 77,753 |
58,100 | Bangkok Commercial Asset Management PLC | 33,485 | |
69,322 | Bank of America Corp. | 2,894,193 | |
144,388 | Bank of China Ltd. | 50,616 | |
149,456 | Bank of Communications Ltd. | 85,872 | |
120,300 | Bank of Communications Ltd. | 82,233 | |
680,800 | Bank of East Asia Ltd./The | 1,140,290 | |
19,321 | Bank of New York Mellon Corp. | 1,066,906 | |
2,209 | Bank of Nova Scotia, Toronto | 136,831 | |
49,200 | Bank of The Philippine Islands | 82,289 | |
3,721 | Bank Pekao SA | 104,092 | |
293 | Bank Zachodni WBK S.A. | 23,089 | |
4,411 | BankUnited, Inc. | 185,394 | |
20,641 | BB Seguridade Participacoes SA | 76,084 | |
8,955 | BNP Paribas SA | 567,934 | |
6,285 | Brightsphere Investment Group, Inc. | 170,889 | |
5,044 | Brookfield Asset Management, Inc. | 280,615 | |
2,232 | Bupa Arabia For Cooperative Insurance Co. | 99,383 | |
7,029 | Cadence BanCorporation | 151,194 | |
11,967 | Capital One Financial Corp. | 1,986,163 | |
3,245 | Cathay Bancorp, Inc. | 129,086 | |
68,153 | Cathay Financial Holding Co. Ltd. | 146,126 | |
469,501 | China Construction Bank Corp. | 338,722 | |
196,904 | China Development Financial Holding Corp. | 100,599 | |
181,951 | China Everbright Bank Co. Ltd. | 65,250 |
7
Shares, Principal Amount or Contracts | Value | ||
COMMON STOCKS—continued | |||
Financials—continued | |||
138,843 | 3 | China Huarong Asset Management Co. Ltd. | $15,299 |
48,400 | China Insurance International Holdings Co. Ltd. | 70,625 | |
24,545 | China Merchants Bank Co. Ltd. | 202,525 | |
14,900 | China Merchants Bank Co. Ltd. | 113,158 | |
160,422 | Chinatrust Financial Holding Co. Ltd. | 132,949 | |
13,083 | Cholamandalam Investment and Finance Co., Ltd. | 98,867 | |
3,528 | Citigroup, Inc. | 253,698 | |
23,369 | Citizens Financial Group, Inc. | 1,023,329 | |
6,585 | ConnectOne Bancorp, Inc. | 188,397 | |
16,073 | DBS Group Holdings Ltd. | 357,541 | |
37,293 | Deutsche Bank AG | 463,884 | |
1 | Discover Financial Services | 128 | |
9,804 | East West Bancorp, Inc. | 719,025 | |
3,588 | Ellington Financial, Inc. | 66,450 | |
4,559 | 1 | Enova International, Inc. | 150,356 |
1,997 | EQT AB | 102,053 | |
2,411 | Fairfax Financial Holdings Ltd. | 1,067,230 | |
5,364 | First American Financial Corp. | 378,323 | |
9,116 | First BanCorp | 116,047 | |
6,872 | First Foundation, Inc. | 165,134 | |
1,074 | First Merchants Corp. | 44,195 | |
39,051 | FirstRand Ltd. | 166,389 | |
53,000 | Fubon Financial Holdings Co., Ltd | 161,961 | |
43,762 | 1 | Genworth Financial, Inc., Class A | 164,107 |
19,011 | Gjensidige Forsikring ASA | 444,510 | |
1,582 | Goldman Sachs Group, Inc. | 654,173 | |
674 | Great Western Bancorp, Inc. | 20,867 | |
1 | Great-West Lifeco, Inc. | 31 | |
3,089 | Hana Financial Holdings | 119,599 | |
6,394 | Hannover Rueckversicherung SE | 1,176,749 | |
467 | Hingham Institution for Savings | 151,541 | |
9,619 | Hong Kong Exchanges & Clearing Ltd. | 605,993 | |
4,213 | Housing Development Finance Corp. Ltd. | 160,904 | |
16,522 | ICICI Bank Ltd. | 162,050 | |
80,813 | Industrial & Commercial Bank of China | 45,107 | |
31,700 | Industrial Bank Co. Ltd. | 90,654 | |
21,586 | Industrivarden AB | 753,776 | |
76,355 | ING Groep N.V. | 1,052,323 | |
4,104 | International Bancshares Corp. | 171,876 | |
237,865 | Intesa Sanpaolo SpA | 673,003 | |
1,708 | JPMorgan Chase & Co. | 273,195 | |
271 | Kinsale Capital Group, Inc. | 49,281 | |
238 | Korea Investment Holdings Co. Ltd. | 19,489 | |
804 | LG Investment & Securities Co. Ltd. | 9,158 | |
1 | 1 | Lufax Holding Ltd., ADR | 9 |
2,856 | Luther Burbank Corp. | 37,042 | |
54,000 | Malayan Banking BHD | 109,191 | |
14,342 | Mercury General Corp. | 856,361 | |
862 | Meta Financial Group, Inc. | 42,402 |
8
Shares, Principal Amount or Contracts | Value | ||
COMMON STOCKS—continued | |||
Financials—continued | |||
26,300 | Metro Bank and Trust Co. | $23,886 | |
9,346 | 1 | Metromile, Inc. | 37,384 |
1 | MGIC Investment Corp. | 15 | |
14,059 | Mizrahi Tefahot Bank Ltd. | 467,652 | |
4,530 | 1 | Moneta Money Bank AS | 18,361 |
8,765 | Morgan Stanley | 915,329 | |
1,076 | 1 | Mr. Cooper Group, Inc. | 41,835 |
1,906 | National Bank Holdings Corp. | 71,475 | |
9,697 | Navient Corp. | 225,067 | |
927 | NBT Bancorp, Inc. | 33,242 | |
823 | Nelnet, Inc., Class A | 66,564 | |
9,581 | New China Life Insurance Co. Ltd. | 28,185 | |
22,151 | NN Group NV | 1,147,054 | |
480 | OFG Bancorp. | 11,429 | |
44,422 | Old Republic International Corp. | 1,154,972 | |
742 | OneMain Holdings, Inc. | 42,910 | |
1,622 | OTP Bank RT | 97,937 | |
4,685 | Oversea-Chinese Banking Corp. Ltd. | 39,726 | |
787 | Partners Group Holding AG | 1,394,646 | |
13,900 | Ping An Bank Co. Ltd. | 38,251 | |
15,682 | Ping An Insurance (Group) Co. of China Ltd. | 121,677 | |
1,484 | Piper Jaffray Cos., Inc. | 212,093 | |
57,000 | Postal Savings Bank of China Co. Ltd. | 41,135 | |
107,600 | Postal Savings Bank of China Co. Ltd. | 85,517 | |
2 | Powszechny Zaklad Ubezpieczen SA | 21 | |
6,283 | Progressive Corp., OH | 605,304 | |
6,248 | PT Bank Central Asia | 14,348 | |
84,400 | PT Bank Mandiri Tbk | 36,015 | |
2,717 | QCR Holdings, Inc. | 141,148 | |
17,338 | Rand Merchant Investment Holdings Ltd. | 37,814 | |
65,234 | RHB Capital Berhad | 87,798 | |
2,163 | Safety Insurance Group, Inc. | 175,874 | |
1,196 | Samsung Life Insurance Co., Ltd. | 76,723 | |
1,900 | Samsung Securities Co. Ltd. | 80,753 | |
1 | Sanlam Ltd. | 4 | |
23,333 | Schroders PLC | 1,213,087 | |
45,000 | Shin Kong Financial Holdings Co. Ltd. | 15,400 | |
1 | Shriram Transport Finance Co. Ltd. | 18 | |
57 | 1 | Silvergate Capital Corp. | 6,440 |
13,668 | Singapore Exchange Ltd. | 100,514 | |
185,023 | Sinopac Holdings Co. | 95,001 | |
32,672 | SLM Corp. | 612,600 | |
675 | Sofina | 298,602 | |
55,021 | St. James’s Place Capital PLC | 1,218,484 | |
1 | Standard Bank Group Ltd. | 10 | |
19,436 | State Bank of India | 113,131 | |
18,783 | State Street Corp. | 1,745,129 | |
1,265 | Sterling Bancorp | 28,956 | |
516 | Stewart Information Services Corp. | 32,482 |
9
Shares, Principal Amount or Contracts | Value | ||
COMMON STOCKS—continued | |||
Financials—continued | |||
316 | Swiss Re AG | $29,056 | |
24,823 | Synchrony Financial | 1,234,944 | |
129,696 | Taiwan Cooperative Financial Holding Co. Ltd. | 104,495 | |
3,273 | The National Commercial Bank | 53,055 | |
1 | Truist Financial Corp. | 57 | |
927 | UMB Financial Corp. | 84,895 | |
235 | United Community Banks, Inc. | 7,090 | |
200 | United Overseas Bank Ltd. | 3,797 | |
1 | Unum Group | 27 | |
2,063 | Veritex Holdings, Inc. | 74,124 | |
58 | Virtus Investment Partners, Inc. | 18,137 | |
41,393 | Wells Fargo & Co. | 1,891,660 | |
1,086 | Wesbanco, Inc. | 36,924 | |
188 | 1 | World Acceptance Corp. | 35,696 |
118,409 | Yuanta Financial Holding Co. Ltd. | 106,615 | |
TOTAL | 45,259,477 | ||
Health Care—7.8% | |||
3,281 | Abbott Laboratories | 414,620 | |
9,856 | 1,3 | Achillion Pharmaceuticals, Inc. | 4,534 |
526 | 1 | Addus Homecare Corp. | 47,298 |
8,513 | 1 | Affimed N.V. | 59,932 |
9,094 | 1 | Akoya Biosciences, Inc. | 145,231 |
1,391 | 1 | AMN Healthcare Services, Inc. | 157,906 |
34,899 | 1 | Amneal Pharmaceuticals, Inc. | 196,830 |
467 | 1 | Amphastar Pharmaceuticals, Inc. | 9,181 |
1,262 | Amplifon SpA | 66,014 | |
5,780 | 1 | Antares Pharma, Inc. | 22,773 |
831 | Anthem, Inc. | 311,733 | |
13,227 | 1 | Antigenics, Inc. | 81,611 |
651 | 1 | Apollo Medical Holdings, Inc. | 49,417 |
4,905 | 1 | Apria, Inc. | 174,961 |
2,877 | 1 | Arcus Biosciences, Inc. | 83,922 |
7,100 | 1 | Avid Bioservices, Inc. | 172,104 |
6,239 | Becton Dickinson & Co. | 1,570,356 | |
5,077 | 1 | BioMarin Pharmaceutical, Inc. | 427,534 |
1,345 | 1 | Bio-Rad Laboratories, Inc., Class A | 1,082,483 |
12,588 | 1 | Cara Therapeutics, Inc. | 198,639 |
4,361 | Cardinal Health, Inc. | 228,909 | |
877 | Carl Zeiss Meditec AG | 193,676 | |
204 | 1 | Celltrion, Inc. | 51,416 |
12,110 | Cerner Corp. | 924,599 | |
4,342 | 1 | Chimerix, Inc. | 30,828 |
23,004 | China Medical System Holding Ltd. | 44,975 | |
143,827 | China Resources Pharmaceutical Group Ltd. | 74,844 | |
7,684 | Cipla Ltd. | 99,752 | |
7,782 | 1 | Coherus Biosciences, Inc. | 124,356 |
1,275 | 1 | Corvel Corp. | 210,133 |
1,654 | 1 | Design Therapeutics, Inc. | 26,001 |
1,620 | Divi’s Laboratories Ltd. | 114,528 |
10
Shares, Principal Amount or Contracts | Value | ||
COMMON STOCKS—continued | |||
Health Care—continued | |||
799 | 1 | Dyne Therapeutics, Inc. | $13,527 |
2,640 | Eisai Co. Ltd. | 217,967 | |
9,454 | Eli Lilly & Co. | 2,441,874 | |
35,394 | 1 | Endo International PLC | 81,052 |
815 | Ensign Group, Inc. | 66,561 | |
10,579 | 1 | Exelixis, Inc. | 202,799 |
1,494 | 1 | Fulgent Genetics, Inc. | 136,313 |
24,315 | Hapvida Participacoes e Investimentos SA | 69,219 | |
15,874 | Hisamitsu Pharmaceutical Co., Inc. | 635,693 | |
2,971 | Hoya Corp. | 479,735 | |
3,952 | Humana, Inc. | 1,602,220 | |
2,678 | 1 | IDEAYA Biosciences, Inc. | 62,933 |
4,673 | 1 | ImmunityBio, Inc. | 53,179 |
13,463 | 1 | Immunovant, Inc. | 116,590 |
2,134 | 1 | Inari Medical, Inc. | 174,689 |
1 | 1 | Incyte Genomics, Inc. | 77 |
2,868 | Ipca Laboratories Ltd. | 101,779 | |
3,509 | 1 | IVERIC Bio, Inc. | 37,090 |
3,061 | Johnson & Johnson | 529,951 | |
799 | 1 | LHC Group, Inc. | 149,221 |
1,215 | 1 | Magellan Health, Inc. | 114,963 |
4,661 | McKesson Corp. | 951,497 | |
17,702 | Medipal Holdings Corp. | 338,106 | |
1,192 | 1 | Medpace Holdings, Inc. | 217,361 |
16,556 | Medtronic PLC | 2,209,895 | |
29,109 | Merck & Co., Inc. | 2,220,726 | |
838 | 1 | Meridian Bioscience, Inc. | 16,961 |
10,554 | Microport Scientific Corp. | 65,249 | |
6,355 | 1 | Mind Medicine (MindMed), Inc. | 18,366 |
1,060 | 1 | ModivCare, Inc. | 209,096 |
1,277 | 1 | Natus Medical, Inc. | 33,866 |
5,281 | 1 | Neurocrine Biosciences, Inc. | 502,751 |
3,850 | 1 | NextGen Healthcare, Inc. | 58,751 |
6,846 | 1 | NGM Biopharmaceuticals, Inc. | 149,448 |
3,600 | Nippon Shinyaku Co. Ltd. | 292,063 | |
10,512 | Novo Nordisk A/S | 1,050,550 | |
19,043 | 1 | Nuvation Bio, Inc. | 175,767 |
31,458 | 1 | Opko Health, Inc. | 121,428 |
1,161 | 1 | OptimizeRX Corp. | 76,835 |
526 | 1 | OraSure Technologies, Inc. | 5,760 |
10,808 | 1 | Organogenesis Holdings, Inc. | 184,384 |
1 | Organon & Co. | 34 | |
902 | Orion Oyj | 36,769 | |
147 | 1 | Orthofix Medical, Inc. | 6,233 |
3,700 | Otsuka Holdings Co., Ltd. | 157,299 | |
3,233 | Owens & Minor, Inc. | 120,526 | |
368 | Patterson Cos., Inc. | 11,276 | |
8,800 | 1 | PeptiDream, Inc. | 310,065 |
2,117 | 1 | Precision Biosciences, Inc. | 26,611 |
11
Shares, Principal Amount or Contracts | Value | ||
COMMON STOCKS—continued | |||
Health Care—continued | |||
6,885 | 1,3 | Progenics Pharmaceuticals, Inc. | $0 |
1,097 | 1 | Progyny, Inc. | 61,289 |
1,184 | 1 | R1 RCM, Inc. | 23,348 |
1,757 | 1 | Regeneron Pharmaceuticals, Inc. | 1,183,164 |
1 | 1 | Rigel Pharmaceuticals, Inc. | 4 |
496 | Roche Holding AG | 199,108 | |
1,521 | Roche Holding AG | 680,952 | |
93 | 1 | Samsung Biologics Co. Ltd. | 77,259 |
8,247 | 1 | Sangamo BioSciences, Inc. | 81,728 |
74,200 | Santen Pharmaceutical Co. Ltd. | 1,105,390 | |
1,352 | Seegene, Inc. | 76,632 | |
2,626 | Shanghai Fosun Pharmaceutical Co. Ltd. | 16,746 | |
4,200 | Shanghai Fosun Pharmaceutical Co. Ltd. | 41,099 | |
37,371 | Shanghai Pharmaceuticals Holding Co. Ltd. | 74,026 | |
129 | Shin Poong Pharmaceutical Co. Ltd. | 7,835 | |
18,012 | Shionogi and Co. | 1,137,625 | |
5,023 | Siemens Healthineers AG | 349,338 | |
31,339 | Sinopharm Group Co. Ltd. | 80,448 | |
2,879 | Sonova Holding AG | 1,110,596 | |
68,400 | Sri Trang Gloves | 78,492 | |
273 | Stedim | 165,528 | |
1 | Sun Pharmaceutical Industries Ltd. | 11 | |
2,142 | 1 | Sutro Biopharma, Inc. | 46,524 |
3,295 | 1 | Translate Bio, Inc. | 123,233 |
3,244 | 1 | Travere Therapeutics, Inc. | 70,817 |
134 | UnitedHealth Group, Inc. | 55,780 | |
8,545 | 1 | Vanda Pharmaceuticals, Inc. | 143,043 |
5,926 | 1 | Vertex Pharmaceuticals, Inc. | 1,186,919 |
126,000 | 1 | Winteam Pharmaceutical Group Ltd. | 59,862 |
2,263 | WuXi AppTec Co. Ltd. | 45,070 | |
2,500 | WuXi AppTec Co. Ltd. | 51,354 | |
14,023 | 1 | WuXi PharmaTech, Inc. | 216,822 |
TOTAL | 32,806,243 | ||
Industrials—8.6% | |||
6,184 | 3M Co. | 1,204,272 | |
97 | A.P. Moller-Maersk A/S, Class B | 275,237 | |
6,456 | Airbus Group SE | 880,243 | |
141 | 1 | American Woodmark Corp. | 9,935 |
4,691 | Ametek, Inc. | 637,835 | |
343 | Apogee Enterprises, Inc. | 14,742 | |
1,511 | Applied Industrial Technologies, Inc. | 134,192 | |
1,694 | ArcBest Corp. | 113,041 | |
15,429 | Ashtead Group PLC | 1,205,528 | |
1,346 | 1 | Atkore, Inc. | 124,868 |
107,354 | AviChina Industry & Technology Co. Ltd. | 89,919 | |
310 | AZZ, Inc. | 16,601 | |
34,237 | Bharat Electronics Ltd. | 87,055 | |
2,687 | Boise Cascade Co. | 155,443 | |
6,711 | Booz Allen Hamilton Holding Corp. | 549,698 |
12
Shares, Principal Amount or Contracts | Value | ||
COMMON STOCKS—continued | |||
Industrials—continued | |||
7,828 | Caterpillar, Inc. | $1,650,690 | |
177 | Cheil Industries, Inc. | 20,239 | |
48,549 | 1 | China COSCO Holdings Co. Ltd., Class H | 91,492 |
71,768 | China Railway Group Ltd. | 34,398 | |
116,400 | China State Construction Engineering Corp. Ltd. | 86,413 | |
89,820 | Citic Pacific Ltd. | 111,568 | |
8,218 | 1 | Clean Harbors, Inc. | 843,331 |
1,173 | Comfort Systems USA, Inc. | 89,125 | |
4,713 | 1 | Cornerstone Building Brands | 78,330 |
29,740 | 1 | COSCO SHIPPING Holdings Co. Ltd. | 95,083 |
4,350 | CSX Corp. | 141,506 | |
13,000 | Dai Nippon Printing Co. Ltd. | 308,790 | |
4,400 | Daifuku Co. | 388,407 | |
2,977 | Deluxe Corp. | 114,168 | |
1,967 | Doosan Bobcat, Inc. | 73,069 | |
419 | Dover Corp. | 73,057 | |
1,784 | DSV Panalpina A/S | 454,443 | |
1,818 | 1 | Dycom Industries, Inc. | 136,950 |
9,424 | Eaton Corp. PLC | 1,586,625 | |
1,209 | Emcor Group, Inc. | 146,894 | |
13,660 | Expeditors International Washington, Inc. | 1,702,582 | |
27,407 | Experian PLC | 1,205,946 | |
8,831 | Ferguson PLC | 1,275,824 | |
5,098 | 1 | FTC Solar, Inc. | 55,313 |
9,397 | Genco Shipping & Trading Ltd. | 183,148 | |
10,286 | Genivar Income Fund | 1,343,013 | |
35 | Glovis Co. Ltd. | 5,833 | |
247 | 1 | GMS, Inc. | 12,204 |
1,544 | GS Engineering & Construction Corp. | 59,272 | |
3 | 1 | Havells India Ltd. | 52 |
615 | 1 | Herc Holdings, Inc. | 80,842 |
3,667 | Hillenbrand, Inc. | 170,222 | |
1,700 | Hoshizaki Electric Co., Ltd. | 159,494 | |
186 | 1 | Hyundai Merchant Marine Co., Ltd. | 6,715 |
1,264 | 1 | IES Holdings, Inc. | 61,810 |
8,170 | Illinois Tool Works, Inc. | 1,902,466 | |
1,311 | Insperity, Inc. | 144,656 | |
892 | 1 | JELD-WEN Holding, Inc. | 24,566 |
4,910 | Johnson Controls International PLC | 367,268 | |
65,882 | Kajima Corp. | 849,681 | |
1,294 | KForce Com, Inc. | 75,595 | |
3,787 | Knight-Swift Transportation Holdings, Inc. | 196,659 | |
3,725 | Koc Holding A.S. | 10,317 | |
320 | Kone Corp. OYJ, Class B | 26,525 | |
2 | Korean Air Co. Ltd. | 54 | |
1,076 | Korn Ferry | 76,062 | |
3,458 | Kuehne & Nagel International AG | 1,266,532 | |
1,225 | LG Corp. | 100,462 | |
5,922 | Localiza Rent A Car SA | 63,517 |
13
Shares, Principal Amount or Contracts | Value | ||
COMMON STOCKS—continued | |||
Industrials—continued | |||
4,562 | 1 | Lyft, Inc. | $217,197 |
1 | Manpower, Inc. | 121 | |
1,398 | 1 | Masonite International Corp. | 167,313 |
485 | Matthews International Corp., Class A | 17,960 | |
18,500 | Mitsubishi Electric Corp. | 252,364 | |
6,500 | MonotaRO Co. Ltd. | 143,076 | |
14,733 | 1 | MRC Global, Inc. | 120,811 |
2,299 | Mueller Industries, Inc. | 102,558 | |
1,549 | 1 | MYR Group, Inc. | 161,112 |
74,920 | NIBE Industrier AB | 1,045,888 | |
6,653 | 1 | Now, Inc. | 51,095 |
1 | nVent Electric PLC | 34 | |
59,748 | Obayashi Corp. | 490,292 | |
1,516 | Old Dominion Freight Lines, Inc. | 437,700 | |
1 | Otis Worldwide Corp. | 92 | |
1 | Owens Corning, Inc. | 96 | |
1,196 | Parker-Hannifin Corp. | 354,817 | |
1 | Pentair PLC | 77 | |
8,001 | Pitney Bowes, Inc. | 59,767 | |
1,093 | Primoris Services Corp. | 28,090 | |
1 | Quanex Building Products Corp. | 24 | |
1,251 | Regal Beloit Corp. | 186,924 | |
389 | Rockwool International A/S | 206,598 | |
1,220 | Rush Enterprises, Inc. | 53,802 | |
1 | 1 | Samsung Engineering Co. Ltd. | 19 |
7,748 | Schneider Electric SA | 1,387,183 | |
49,839 | Schneider National, Inc. | 1,123,371 | |
12,635 | Secom Co. Ltd. | 957,757 | |
94,600 | Sime Darby BHD | 53,744 | |
587 | SMC Corp. | 374,969 | |
1 | Smith (A.O.) Corp. | 73 | |
6,451 | Sohgo Security Services Co. Ltd. | 292,054 | |
3 | 1 | STX Pan Ocean Co. Ltd. | 21 |
10,751 | Taisei Corp. | 335,711 | |
2,150 | Terex Corp. | 109,758 | |
1,382 | Tetra Tech, Inc. | 198,787 | |
28,313 | Toppan, Inc. | 485,806 | |
2,018 | Toro Co. | 221,859 | |
7,656 | Trane Technologies PLC | 1,519,716 | |
1,218 | 1 | TriNet Group, Inc. | 112,153 |
298 | 1 | TuSimple Holdings, Inc. | 12,474 |
8,532 | 1 | Uber Technologies, Inc. | 333,942 |
28 | UFP Industries, Inc. | 2,102 | |
1,571 | Universal Truckload Services, Inc. | 34,358 | |
9,508 | Wabash National Corp. | 147,754 | |
4,000 | Wan Hai Lines Ltd. | 35,369 | |
20,385 | Wartsila OYJ, Class B | 289,148 | |
14,107 | Weg SA | 97,015 | |
28,000 | Weichai Power Co. Ltd. | 86,882 |
14
Shares, Principal Amount or Contracts | Value | ||
COMMON STOCKS—continued | |||
Industrials—continued | |||
731 | Werner Enterprises, Inc. | $34,474 | |
572 | Wolters Kluwer NV | 65,882 | |
16,540 | Xinyi Solar Holdings Ltd. | 39,909 | |
3,300 | Yamato Holdings Co. Ltd. | 83,942 | |
65,467 | Zhejiang Expressway Co. Ltd. | 57,397 | |
TOTAL | 36,041,254 | ||
Information Technology—12.8% | |||
6,936 | 1 | A10 Networks, Inc. | 96,341 |
86,658 | Acer Sertek, Inc. | 78,588 | |
2,650 | 1 | ACI Worldwide, Inc. | 85,409 |
3,630 | 1 | Adobe, Inc. | 2,409,231 |
1,792 | Advanced Energy Industries, Inc. | 161,603 | |
2,126 | Advantest Corp. | 183,528 | |
2,151 | 1 | Alpha & Omega Semiconductor Ltd. | 62,487 |
2,507 | 1 | Altair Engineering, Inc. | 185,493 |
6,456 | Amkor Technology, Inc. | 177,346 | |
48,211 | Apple, Inc. | 7,319,876 | |
14,690 | Applied Materials, Inc. | 1,985,060 | |
647 | ASM International NV | 252,261 | |
554 | ASML Holding N.V. | 463,018 | |
8,783 | Asustek Computer, Inc. | 102,610 | |
94,000 | Au Optronics Corp. | 59,394 | |
7,103 | Automatic Data Processing, Inc. | 1,484,811 | |
2,345 | 1 | Blackbaud, Inc. | 163,423 |
90,600 | BOE Technology Group Co. Ltd. | 81,514 | |
18,951 | Brother Industries Ltd. | 388,513 | |
1 | 1 | C3.AI, Inc. | 52 |
7,687 | 1 | Cadence Design Systems, Inc. | 1,256,671 |
1,376 | 1 | Cambium Networks Corp. | 51,559 |
6,129 | Capgemini SE | 1,375,112 | |
2,771 | 1 | Casa Systems, Inc. | 19,508 |
1,034 | Cass Information Systems, Inc. | 46,613 | |
1,948 | 1 | CGI, Inc., Class A | 174,103 |
92,059 | 1 | China Youzan Ltd. | 12,862 |
9,837 | Cisco Systems, Inc. | 580,580 | |
719 | 1 | CloudFlare, Inc. | 86,812 |
2,560 | 1 | Commvault Systems, Inc. | 207,283 |
110,537 | Compal Electronics, Inc. | 91,142 | |
577 | 1 | Corsair Gaming, Inc. | 16,704 |
765 | 1 | Crowdstrike Holdings, Inc. | 214,965 |
1,742 | CSG Systems International, Inc. | 83,982 | |
1,442 | 1 | Daqo New Energy Corp., ADR | 88,409 |
8,984 | 1 | Datto Holding Corp. | 229,092 |
212 | Delta Electronics, Inc. | 2,067 | |
1,648 | 1 | Diodes, Inc. | 159,576 |
581 | Disco Corp. | 169,070 | |
969 | Dolby Laboratories, Class A | 96,038 | |
9,358 | 1 | Duck Creek Technologies LLC | 436,364 |
17,093 | 1 | E2open Parent Holdings, Inc. | 204,090 |
15
Shares, Principal Amount or Contracts | Value | ||
COMMON STOCKS—continued | |||
Information Technology—continued | |||
310 | 1 | Elastic N.V. | $49,460 |
1,246 | 1 | EPAM Systems, Inc. | 788,481 |
771 | 1 | ePlus, Inc. | 83,438 |
1,260 | 1 | Fabrinet | 129,805 |
1,683 | 1 | Fortinet, Inc. | 530,381 |
2,894 | Fujitsu Ltd. | 533,546 | |
3,282 | 1 | Gartner, Inc., Class A | 1,013,285 |
12,600 | GoerTek, Inc. | 90,608 | |
23,558 | Hewlett Packard Enterprise Co. | 364,207 | |
28,367 | Hon Hai Precision Industry Co. Ltd. | 113,196 | |
900 | 1 | Ichor Holdings Ltd. | 39,879 |
16,182 | Infosys Ltd. | 379,422 | |
144,000 | Innolux Display Corp. | 89,416 | |
1,002 | 1 | Insight Enterprises, Inc. | 103,096 |
212 | InterDigital, Inc. | 15,287 | |
6,074 | IT Holdings Corp. | 171,217 | |
7,177 | 1 | Jamf Holding Corp. | 252,272 |
800 | Keyence Corp. | 480,439 | |
16,549 | Kingboard Chemical Holdings Ltd. | 81,275 | |
40,549 | Kingboard Laminates Holdings Ltd. | 79,568 | |
5,204 | KLA Corp. | 1,769,152 | |
667 | Kulicke & Soffa Industries | 46,817 | |
2,835 | Lam Research Corp. | 1,714,665 | |
105,224 | Lenovo Group Ltd. | 116,452 | |
4,273 | 1 | LG Display Co. Ltd. | 75,247 |
426 | LG Innotek Co., Ltd. | 78,616 | |
40,145 | 1 | Lite-On Technology Corp. | 88,500 |
9,753 | Logitech International SA | 996,426 | |
944 | Maximus, Inc. | 82,213 | |
8,197 | MediaTek, Inc. | 265,539 | |
634 | Methode Electronics, Inc., Class A | 29,525 | |
19,154 | Microsoft Corp. | 5,782,209 | |
2,000 | Nan Ya Printed Circuit Board Corp. | 30,277 | |
1,400 | Obic Co. Ltd. | 265,791 | |
265 | 1 | ON24, Inc. | 5,992 |
1 | 1 | Oneconnect Financial Technology Co., Ltd., ADR | 5 |
6,340 | Otsuka Corp. | 328,047 | |
6,718 | 1 | Paya Holdings, Inc. | 64,829 |
3,122 | 1 | Paylocity Corp. | 840,442 |
22 | 1 | PC Connections, Inc. | 1,065 |
9,209 | Pegatron Corp. | 21,525 | |
5,000 | 1 | Phison Electronics Corp. | 76,622 |
2 | 1 | Photronics, Inc. | 30 |
285 | 1 | Plexus Corp. | 26,172 |
3,455 | 1 | PTC, Inc. | 454,885 |
1,547 | QAD, Inc. | 134,604 | |
7,490 | Qualcomm, Inc. | 1,098,708 | |
35,317 | Quanta Computer, Inc. | 99,765 | |
4,931 | Realtek Semiconductor Corp. | 98,306 |
16
Shares, Principal Amount or Contracts | Value | ||
COMMON STOCKS—continued | |||
Information Technology—continued | |||
5,500 | Rohm Co. Ltd. | $527,954 | |
4,812 | 1 | Salesforce.com, Inc. | 1,276,479��� |
633 | Samsung Electro-Mechanics Co. | 100,287 | |
19,112 | Samsung Electronics Co. Ltd. | 1,261,514 | |
95 | Samsung SDI Co. Ltd. | 64,684 | |
207 | 1 | Sanmina Corp. | 8,172 |
3,728 | SAP SE | 560,921 | |
1,832 | 1 | Semtech Corp. | 128,093 |
3,813 | Shimadzu Corp. | 170,881 | |
2,360 | SK Hynix, Inc. | 215,893 | |
499 | 1 | Snowflake, Inc. | 151,871 |
1,569 | 1 | SPS Commerce, Inc. | 212,647 |
1 | SS&C Technologies Holdings, Inc. | 76 | |
18,043 | STMicroelectronics N.V. | 803,214 | |
300 | Sunny Opitcal Technology Group Co. Ltd. | 9,057 | |
43,655 | Synnex Technology International Corp. | 84,602 | |
6,176 | 1 | Synopsys, Inc. | 2,051,914 |
89,122 | Taiwan Semiconductor Manufacturing Co. Ltd | 1,959,193 | |
5,106 | Tata Consultancy Services Ltd. | 265,422 | |
10,778 | 1 | TeamViewer AG | 358,958 |
6,917 | Tech Mahindra Ltd. | 137,119 | |
1 | 1 | Teradata Corp. | 55 |
10,200 | Tianjin Zhonghuan Semiconductor Co. Ltd | 85,333 | |
3,447 | Totvs SA | 26,398 | |
3,847 | Trend Micro, Inc. | 210,724 | |
1,224 | TTEC Holdings, Inc. | 129,083 | |
475 | 1 | Tucows, Inc. | 35,202 |
984 | 1 | Twilio, Inc. | 351,249 |
826 | 1 | Tyler Technologies, Inc. | 401,188 |
1,338 | 1 | Ultra Clean Holdings, Inc. | 61,869 |
19,000 | Unimicron Technology Corp. | 100,386 | |
79,568 | United Microelectronics Corp. | 180,000 | |
221 | 1 | Veritone, Inc. | 4,612 |
5,974 | Vishay Intertechnology, Inc. | 131,249 | |
1 | Wipro Ltd. | 9 | |
679 | 1 | Workiva, Inc. | 95,243 |
1,000 | Yamatake-Honeywell | 43,361 | |
703 | 1 | Zoom Video Communications, Inc. | 203,518 |
23,600 | ZTE Corp. | 82,711 | |
TOTAL | 53,815,005 | ||
Materials—5.2% | |||
2,571 | ACC Ltd. | 84,684 | |
865 | 1 | AdvanSix, Inc. | 31,572 |
4,040 | African Rainbow Minerals Ltd. | 72,413 | |
3,038 | Akzo Nobel NV | 374,575 | |
51,372 | Alrosa AO | 102,276 | |
28,000 | 1 | Aluminum Corp. of China Ltd. | 20,490 |
48,186 | Asia Cement Corp. | 77,863 | |
2,818 | Avery Dennison Corp. | 635,149 |
17
Shares, Principal Amount or Contracts | Value | ||
COMMON STOCKS—continued | |||
Materials—continued | |||
44,097 | BHP Billiton Ltd. | $1,467,916 | |
23,781 | BHP Group PLC | 737,020 | |
27,542 | BHP Steel Ltd. | 503,958 | |
15,448 | Boliden AB | 539,578 | |
2,189 | Cabot Corp. | 116,893 | |
3,835 | Cherepovets MK Severstal | 90,020 | |
21,877 | China Hongqiao Group Ltd. | 32,382 | |
52,189 | China Molybdenum Co. Ltd. | 40,693 | |
10,874 | Companhia Siderurgica Nacional SA | 73,309 | |
11,641 | 1 | Companhia Vale Do Rio Doce | 222,158 |
5,362 | 1 | Constellium SE | 108,420 |
1,152 | 1 | Domtar, Corp. | 63,164 |
3,061 | Dow, Inc | 192,537 | |
2,304 | Eastman Chemical Co. | 260,721 | |
5,107 | 1,3 | Ferroglobe Representation & Warranty Insurance Trust | 0 |
2,756 | 1 | Forterra, Inc. | 63,498 |
64,473 | Fortescue Metals Group Ltd. | 984,197 | |
36,982 | Glencore PLC | 166,568 | |
1,503 | Greif, Inc. | 92,434 | |
15,969 | Gujarat Ambuja Cements Ltd. | 92,222 | |
1,586 | Hawkins, Inc. | 60,078 | |
17,000 | Hengli Petrochemical Co. Ltd. | 68,738 | |
2 | Hindalco Industries Ltd. | 13 | |
13,988 | Holcim Ltd. | 797,957 | |
13,884 | International Paper Co. | 834,290 | |
19,097 | James Hardie Industries PLC, GDR | 740,635 | |
27,891 | Jiangxi Copper Co. Ltd. | 56,376 | |
10,615 | JSW Steel Ltd. | 99,635 | |
1,990 | KGHM Polska Miedz SA | 93,066 | |
223 | 1 | Koppers Holdings, Inc. | 7,337 |
372 | Korea Kumho Petrochemical Co. Ltd. | 62,262 | |
200 | L.G. Chemical Ltd. | 130,647 | |
1,973 | Mitsubishi Gas Chemical Co., Inc. | 37,159 | |
6,980 | Newcrest Mining Ltd. | 126,759 | |
4,750 | Nitto Denko Corp. | 360,538 | |
453 | Norilsk Nickel | 148,514 | |
26,540 | Novolipetski Metallurgicheski Komb OAO | 89,638 | |
1,858 | Novozymes A/S, Class B | 150,055 | |
27,572 | Nuevo Grupo Mexico SA, Class B | 127,838 | |
2,405 | Nutrien Ltd. | 146,208 | |
31,052 | Orbia Advance Corp. SAB de CV | 88,731 | |
11,700 | Petronas Chemicals BHD | 23,387 | |
4,407 | 2 | Phosagro OAO, GDR | 86,818 |
2 | Polymetal International PLC | 40 | |
513 | Polyus PJSC | 91,811 | |
421 | POSCO | 121,026 | |
1,625 | PPG Industries, Inc. | 259,269 | |
453,600 | PT Aneka Tambang Tbk | 75,950 | |
85,950 | PT Semen Gresik | 55,648 |
18
Shares, Principal Amount or Contracts | Value | ||
COMMON STOCKS—continued | |||
Materials—continued | |||
4,315 | 1 | Queen’s Road Capital Investment Ltd. | $2,394 |
11,424 | Rio Tinto Ltd. | 931,529 | |
18,368 | Rio Tinto PLC | 1,357,232 | |
14,900 | Rongsheng Petrochemical Co. Ltd. | 42,854 | |
9,612 | Sahara International Petrochemical Co. | 85,375 | |
5,692 | Saudi Basic Industries Corp. | 186,648 | |
17,077 | 1 | Saudi Kayan Petrochemical Co. | 84,781 |
39,900 | SCG Packaging Public Company Ltd. | 86,561 | |
1,492 | Schnitzer Steel Industries, Inc., Class A | 70,587 | |
2,019 | Scotts Miracle-Gro Co. | 316,640 | |
6,610 | Sealed Air Corp. | 403,408 | |
6,403 | Sherwin-Williams Co. | 1,944,399 | |
184 | 1 | Shree Cement | 71,141 |
27,599 | Sibanye Stillwater | 112,986 | |
3,979 | Sika AG | 1,435,462 | |
259,929 | South32 Ltd. | 596,553 | |
541 | Stepan Co. | 63,600 | |
4,246 | Symrise AG | 604,519 | |
6,153 | Tata Steel Ltd. | 121,587 | |
28,369 | Tosoh Corp. | 514,579 | |
2,415 | Trinseo SA | 125,411 | |
1,102 | Ultra Tech Cement, Ltd. | 118,043 | |
2,669 | Va Stahl Ag | 120,928 | |
22,453 | 1 | Vedanta Ltd. | 92,951 |
1,140 | Worthington Industries, Inc. | 66,063 | |
71,054 | Zijin Mining Group Co. Ltd. | 100,534 | |
TOTAL | 21,843,898 | ||
Real Estate—1.8% | |||
2,238 | Acadia Realty Trust | 47,490 | |
16,745 | Agile Group Holdings Ltd. | 19,190 | |
3,960 | American Tower Corp. | 1,156,993 | |
7,670 | Apartment Income REIT Corp. | 389,789 | |
698 | Azrieli Group | 65,348 | |
4,652 | CareTrust REIT, Inc. | 102,297 | |
28,806 | CIFI Holdings Group Co. Ltd. | 19,398 | |
12,960 | 1 | Corepoint Lodging, Inc. | 187,402 |
45,526 | Country Garden Holdings Co. | 50,263 | |
5,499 | Crown Castle International Corp. | 1,070,600 | |
2,467 | Daito Trust Construction Co. Ltd. | 270,670 | |
8,680 | 1 | Dar Al Arkan Real Estate Development Co. | 23,604 |
7,608 | 1 | DigitalBridge Group, Inc. | 52,495 |
1 | 1 | Emaar The Economic City | 3 |
11,067 | Empire State Realty Trust, Inc. | 113,658 | |
809 | Equity Lifestyle Properties, Inc. | 68,822 | |
5,217 | eXp World Holdings, Inc. | 239,199 | |
4,757 | Goodman Group | 80,628 | |
31,411 | Greentown China Holdings Ltd. | 48,265 | |
64,318 | Guangzhou R&F Properties Co. Ltd. | 54,885 | |
18,465 | Hopson Development Holdings Ltd. | 71,885 |
19
Shares, Principal Amount or Contracts | Value | ||
COMMON STOCKS—continued | |||
Real Estate—continued | |||
2,815 | Independence Realty Trust | $57,651 | |
112,000 | 1 | Kaisa Group Holdings Ltd. | 37,192 |
4,744 | Kite Realty Group Trust | 96,113 | |
24,557 | KWG Property Holding Ltd. | 25,910 | |
201,153 | Mapletree Commercial Trust | 303,311 | |
67,474 | Mapletree Logistics Trust | 101,772 | |
3,066 | Mid-American Apartment Communities, Inc. | 589,806 | |
3,612 | National Storage Affiliates Trust | 206,787 | |
18,213 | New Senior Investment Group, Inc. | 159,000 | |
3,092 | Newmark Group, Inc. | 42,113 | |
705 | Plymouth Industrial REIT, Inc. | 16,610 | |
6,643 | ProLogis, Inc. | 894,546 | |
543 | Public Storage | 175,720 | |
15,158 | Retail Properties of America, Inc. | 200,389 | |
120 | RPT Realty | 1,553 | |
51,865 | Seazen Group Ltd. | 45,976 | |
20,000 | Sunac China Holdings | 51,074 | |
10,034 | Tanger Factory Outlet Centers, Inc. | 167,769 | |
TOTAL | 7,306,176 | ||
Utilities—1.8% | |||
695 | American States Water Co. | 64,086 | |
657 | Brookfield Infrastructure Corp. | 41,785 | |
236,396 | CGN Power Co. Ltd. | 52,256 | |
52,400 | China Longyuan Power Group Corp. | 106,640 | |
120,322 | China Power International Development Ltd. | 48,533 | |
2,000 | China Resources Logic Ltd. | 12,139 | |
6,582 | Clearway Energy, Inc. | 195,749 | |
16,056 | CPFL Energia SA | 90,173 | |
12,762 | Enagas SA | 290,265 | |
33,656 | Endesa SA | 809,616 | |
1,292 | ENN Energy Holdings Ltd. | 25,552 | |
17,259 | Equatorial Energia SA | 84,947 | |
41,314 | Gail India Ltd. | 82,987 | |
260,500 | 2 | HK Electric Investments Ltd. | 259,099 |
58,317 | Iberdrola SA | 722,299 | |
8,822 | Indraprastha Gas Ltd. | 65,898 | |
404 | Korea Electric Power Corp. | 8,345 | |
42,872 | Kunlun Energy Co. Ltd. | 45,351 | |
20,128 | NextEra Energy, Inc. | 1,690,551 | |
886 | Northwestern Corp. | 56,350 | |
1 | NRG Energy, Inc. | 46 | |
1,169,715 | OJSC Inter Rao Ues | 73,776 | |
2,189 | Otter Tail Corp. | 120,110 | |
20,541 | Petronas Gas | 83,005 | |
2,789 | Portland General Electric Co. | 143,215 | |
9,694 | Red Electrica Corporacion SA | 193,242 | |
29,065 | RWE AG | 1,134,890 | |
2,076 | Saudi Electricity Global, Class SECO AB | 15,110 |
20
Shares, Principal Amount or Contracts | Value | ||
COMMON STOCKS—continued | |||
Utilities—continued | |||
29,968 | Uniper SE | $1,189,528 | |
TOTAL | 7,705,543 | ||
TOTAL COMMON STOCKS (IDENTIFIED COST $216,336,731) | 282,423,027 | ||
FOREIGN GOVERNMENTS/AGENCIES—5.7% | |||
Sovereign—5.7% | |||
AUD 1,000,000 | Australia, Government of, Sr. Unsecd. Note, Series 148, 2.750%, 11/21/2027 | 820,001 | |
EUR 390,000 | Belgium, Government of, Series 68, 2.250%, 6/22/2023 | 485,168 | |
680,000 | Belgium, Government of, Series 74, 0.800%, 6/22/2025 | 847,678 | |
CAD 480,000 | Canada, Government of, Series WL43, 5.750%, 6/1/2029 | 512,046 | |
EUR 6,000 | France, Government of, 0.500%, 5/25/2025 | 7,380 | |
150,000 | France, Government of, Bond, 4.500%, 4/25/2041 | 313,022 | |
850,000 | France, Government of, O.A.T., 5.500%, 4/25/2029 | 1,455,484 | |
650,000 | France, Government of, Unsecd. Note, 1.250%, 5/25/2036 | 877,246 | |
300,000 | France, Government of, Unsecd. Note, 1.750%, 6/25/2039 | 440,412 | |
600,000 | Germany, Government of, 0.250%, 2/15/2027 | 745,069 | |
300,000 | Germany, Government of, Bond, Series 03, 4.750%, 7/4/2034 | 591,900 | |
100,000 | Germany, Government of, Bond, Series 08, 4.750%, 7/4/2040 | 229,341 | |
680,000 | Italy, Government of, Sr. Unsecd. Note, 0.650%, 10/15/2023 | 820,862 | |
1,000,000 | Italy, Government of, Sr. Unsecd. Note, 4.750%, 9/1/2028 | 1,540,273 | |
1,250,000 | Italy, Government of, Unsecd. Note, 1.600%, 6/1/2026 | 1,588,133 | |
58,000 | Italy, Government of, Unsecd. Note, 3.250%, 9/1/2046 | 91,673 | |
JPY 142,000,000 | Japan, Government of, Sr. Unsecd. Note, Series 114, 2.100%, 12/20/2029 | 1,523,736 | |
185,000,000 | Japan, Government of, Sr. Unsecd. Note, Series 153, 1.300%, 6/20/2035 | 1,938,216 | |
50,000,000 | Japan, Government of, Sr. Unsecd. Note, Series 351, 0.100%, 6/20/2028 | 460,824 | |
155,000,000 | Japan, Government of, Sr. Unsecd. Note, Series 44, 1.700%, 9/20/2044 | 1,783,666 | |
MXN 30,000 | Mexico, Government of, Series MTNA, 6.750%, 9/27/2034 | 40,425 | |
EUR 450,000 | Netherlands, Government of, Unsecd. Note, 2.500%, 1/15/2033 | 697,578 | |
150,000 | Spain, Government of, 4.200%, 1/31/2037 | 268,942 | |
600,000 | Spain, Government of, Sr. Unsecd. Note, 1.500%, 4/30/2027 | 779,512 | |
590,000 | Spain, Government of, Sr. Unsecd. Note, 1.950%, 7/30/2030 | 807,731 | |
480,000 | Spain, Government of, Sr. Unsecd. Note, 2.750%, 10/31/2024 | 625,855 | |
GBP 200,000 | United Kingdom, Government of, 2.750%, 9/7/2024 | 295,906 | |
330,000 | United Kingdom, Government of, 3.250%, 1/22/2044 | 650,489 | |
70,000 | United Kingdom, Government of, 4.250%, 12/7/2027 | 119,047 | |
270,000 | United Kingdom, Government of, Bond, 4.250%, 3/7/2036 | 540,226 | |
400,000 | United Kingdom, Government of, Unsecd. Deb., 1.625%, 10/22/2028 | 594,295 | |
600,000 | United Kingdom, Government of, Unsecd. Note, 1.500%, 7/22/2047 | 904,017 | |
230,000 | United Kingdom, Government of, Unsecd. Note, 4.250%, 6/7/2032 | 431,192 | |
TOTAL FOREIGN GOVERNMENTS/AGENCIES (IDENTIFIED COST $21,606,272) | 23,827,345 | ||
CORPORATE BONDS—5.1% | |||
Basic Industry - Metals & Mining—0.0% | |||
$ 100,000 | Reliance Steel & Aluminum Co., Sr. Unsecd. Note, 4.500%, 4/15/2023 | 105,324 | |
Capital Goods - Aerospace & Defense—0.3% | |||
350,000 | Boeing Co., Sr. Unsecd. Note, 4.875%, 5/1/2025 | 391,412 | |
145,000 | Huntington Ingalls Industries, Inc., Sr. Unsecd. Note, Series WI, 3.844%, 5/1/2025 | 158,163 | |
300,000 | Leidos Inc., Sr. Unsecd. Note, Series WI, 2.300%, 2/15/2031 | 296,121 | |
215,000 | Leidos Inc., Sr. Unsecd. Note, Series WI, 3.625%, 5/15/2025 | 232,968 | |
180,000 | Lockheed Martin Corp., Sr. Unsecd. Note, 3.550%, 1/15/2026 | 199,130 |
21
Shares, Principal Amount or Contracts | Value | ||
CORPORATE BONDS—continued | |||
Capital Goods - Aerospace & Defense—continued | |||
$ 90,000 | 4 | Textron Financial Corp., Jr. Sub. Note, 144A, 1.860% (3-month USLIBOR +1.735%), 2/15/2042 | $77,319 |
TOTAL | 1,355,113 | ||
Capital Goods - Building Materials—0.0% | |||
125,000 | Allegion PLC, Sr. Unsecd. Note, 3.500%, 10/1/2029 | 137,665 | |
Capital Goods - Construction Machinery—0.1% | |||
315,000 | Ashtead Capital, Inc., Sr. Unsecd. Note, 144A, 2.450%, 8/12/2031 | 313,055 | |
195,000 | Deere & Co., Sr. Unsecd. Note, 2.750%, 4/15/2025 | 207,803 | |
TOTAL | 520,858 | ||
Capital Goods - Diversified Manufacturing—0.0% | |||
30,000 | General Electric Capital Corp., Note, Series MTNA, 6.750%, 3/15/2032 | 41,702 | |
75,000 | Lennox International, Inc., Sr. Unsecd. Note, 1.700%, 8/1/2027 | 75,540 | |
TOTAL | 117,242 | ||
Communications - Cable & Satellite—0.0% | |||
30,000 | Charter Communications Operating, LLC/Charter Communications Operating Capital Corp., 5.050%, 3/30/2029 | 35,560 | |
Communications - Media & Entertainment—0.1% | |||
20,000 | Discovery Communications LLC, Sr. Unsecd. Note, 4.900%, 3/11/2026 | 22,813 | |
70,000 | Grupo Televisa S.A., Sr. Unsecd. Note, 6.125%, 1/31/2046 | 100,075 | |
400,000 | ViacomCBS Inc., Sr. Unsecd. Note, 4.750%, 5/15/2025 | 451,166 | |
TOTAL | 574,054 | ||
Communications - Telecom Wireless—0.1% | |||
80,000 | T-Mobile USA, Inc., 2.250%, 11/15/2031 | 79,715 | |
300,000 | T-Mobile USA, Inc., Sec. Fac. Bond, 144A, 3.400%, 10/15/2052 | 304,934 | |
TOTAL | 384,649 | ||
Communications - Telecom Wirelines—0.1% | |||
364,000 | AT&T, Inc., Sr. Unsecd. Note, 144A, 3.550%, 9/15/2055 | 373,211 | |
200,000 | Verizon Communications, Inc., Sr. Unsecd. Note, 4.150%, 3/15/2024 | 216,626 | |
TOTAL | 589,837 | ||
Consumer Cyclical - Automotive—0.0% | |||
70,000 | General Motors Co., Sr. Unsecd. Note, 4.000%, 4/1/2025 | 76,631 | |
Consumer Cyclical - Retailers—0.3% | |||
600,000 | Advance Auto Parts, Inc., Sr. Unsecd. Note, Series WI, 3.900%, 4/15/2030 | 668,855 | |
225,000 | AutoNation, Inc., Sr. Unsecd. Note, 4.750%, 6/1/2030 | 265,646 | |
300,000 | AutoZone, Inc., Sr. Unsecd. Note, 3.250%, 4/15/2025 | 322,982 | |
71,432 | CVS Health Corp., Pass Thru Cert., 144A, 5.298%, 1/11/2027 | 78,215 | |
TOTAL | 1,335,698 | ||
Consumer Cyclical - Services—0.1% | |||
200,000 | Alibaba Group Holding Ltd., Sr. Unsecd. Note, 2.800%, 6/6/2023 | 207,468 | |
130,000 | Visa, Inc., Sr. Unsecd. Note, 3.150%, 12/14/2025 | 141,955 | |
TOTAL | 349,423 | ||
Consumer Non-Cyclical - Food/Beverage—0.1% | |||
210,000 | Flowers Foods, Inc., Sr. Unsecd. Note, 3.500%, 10/1/2026 | 229,446 | |
120,000 | Mead Johnson Nutrition Co., Sr. Unsecd. Note, 4.125%, 11/15/2025 | 134,700 | |
70,000 | PepsiCo, Inc., Sr. Unsecd. Note, 4.450%, 4/14/2046 | 91,676 | |
TOTAL | 455,822 | ||
Consumer Non-Cyclical - Health Care—0.2% | |||
210,000 | Agilent Technologies, Inc., Sr. Unsecd. Note, 2.750%, 9/15/2029 | 221,570 | |
180,000 | Dentsply Sirona, Inc., Sr. Unsecd. Note, 3.250%, 6/1/2030 | 195,183 | |
400,000 | PerkinElmer, Inc., Sr. Unsecd. Note, 3.300%, 9/15/2029 | 434,106 |
22
Shares, Principal Amount or Contracts | Value | ||
CORPORATE BONDS—continued | |||
Consumer Non-Cyclical - Health Care—continued | |||
$ 75,000 | Thermo Fisher Scientific, Inc., Sr. Unsecd. Note, 4.133%, 3/25/2025 | $82,855 | |
TOTAL | 933,714 | ||
Consumer Non-Cyclical - Pharmaceuticals—0.1% | |||
90,000 | Gilead Sciences, Inc., Sr. Unsecd. Note, 3.650%, 3/1/2026 | 99,276 | |
190,000 | Zoetis, Inc., Sr. Unsecd. Note, 3.000%, 5/15/2050 | 199,787 | |
TOTAL | 299,063 | ||
Consumer Non-Cyclical - Tobacco—0.4% | |||
EUR 870,000 | Philip Morris International, Inc., Sr. Unsecd. Note, 2.875%, 5/14/2029 | 1,215,886 | |
$ 200,000 | Reynolds American, Inc., Sr. Unsecd. Note, 5.850%, 8/15/2045 | 247,773 | |
TOTAL | 1,463,659 | ||
Energy - Independent—0.1% | |||
400,000 | Pioneer Natural Resources, Inc., Sr. Unsecd. Note, 2.150%, 1/15/2031 | 392,234 | |
Energy - Integrated—0.3% | |||
340,000 | Exxon Mobil Corp., Sr. Unsecd. Note, 2.992%, 3/19/2025 | 363,893 | |
100,000 | Husky Energy, Inc., Sr. Unsecd. Note, 3.950%, 4/15/2022 | 101,277 | |
35,000 | Petro-Canada, Deb., 7.000%, 11/15/2028 | 46,064 | |
EUR 600,000 | Petroleos Mexicanos, Sr. Unsecd. Note, Series EMTN, 1.875%, 4/21/2022 | 712,095 | |
TOTAL | 1,223,329 | ||
Energy - Midstream—0.1% | |||
$ 325,000 | Energy Transfer Partners LP, Sr. Unsecd. Note, 4.050%, 3/15/2025 | 352,202 | |
80,000 | MPLX LP, Sr. Unsecd. Note, 4.125%, 3/1/2027 | 89,841 | |
TOTAL | 442,043 | ||
Energy - Refining—0.1% | |||
250,000 | Marathon Petroleum Corp., Sr. Unsecd. Note, 4.750%, 9/15/2044 | 295,717 | |
Financial Institution - Banking—0.5% | |||
100,000 | Bank of America Corp., Sr. Unsecd. Note, Series MTN, 4.875%, 4/1/2044 | 131,179 | |
300,000 | Bank of America Corp., Sub. Note, Series MTN, 4.000%, 1/22/2025 | 328,026 | |
250,000 | Citizens Bank N.A., Sr. Unsecd. Note, Series BKNT, 3.750%, 2/18/2026 | 277,275 | |
250,000 | Compass Bank, Birmingham, Sub. Note, Series BKNT, 3.875%, 4/10/2025 | 275,688 | |
5,000 | Goldman Sachs Group, Inc., Sr. Unsecd. Note, 5.750%, 1/24/2022 | 5,109 | |
100,000 | JPMorgan Chase & Co., Series S, 6.750%, 8/1/2070 | 110,438 | |
50,000 | JPMorgan Chase & Co., Sub. Note, 3.375%, 5/1/2023 | 52,396 | |
400,000 | Morgan Stanley, 4.300%, 1/27/2045 | 498,907 | |
70,000 | Morgan Stanley, Sr. Unsecd. Note, Series MTN, 1.794%, 2/13/2032 | 67,719 | |
21,306 | 3 | Regional Diversified Funding, 144A, 9.250%, 3/15/2030 | 17,471 |
300,000 | US Bancorp, Sr. Unsecd. Note, Series MTN, 1.375%, 7/22/2030 | 290,718 | |
TOTAL | 2,054,926 | ||
Financial Institution - Broker/Asset Mgr/Exchange—0.1% | |||
140,000 | Invesco Finance PLC, Sr. Unsecd. Note, 3.750%, 1/15/2026 | 154,906 | |
70,000 | TIAA Asset Management Finance Co. LLC, Sr. Unsecd. Note, 144A, 4.125%, 11/1/2024 | 77,235 | |
TOTAL | 232,141 | ||
Financial Institution - Insurance - Life—0.0% | |||
27,000 | Aflac, Inc., Sr. Unsecd. Note, 6.450%, 8/15/2040 | 39,629 | |
10,000 | MetLife, Inc., Jr. Sub. Note, 10.750%, 8/1/2039 | 17,725 | |
105,000 | Northwestern Mutual Life Insurance Co., Sr. Unsecd. Note, 144A, 3.625%, 9/30/2059 | 118,424 | |
TOTAL | 175,778 | ||
Financial Institution - Insurance - P&C—0.1% | |||
75,000 | Nationwide Mutual Insurance Co., Sub. Note, 144A, 4.350%, 4/30/2050 | 86,327 | |
275,000 | Nationwide Mutual Insurance Co., Sub. Note, 144A, 4.950%, 4/22/2044 | 335,336 |
23
Shares, Principal Amount or Contracts | Value | ||
CORPORATE BONDS—continued | |||
Financial Institution - Insurance - P&C—continued | |||
$ 30,000 | Nationwide Mutual Insurance Co., Sub. Note, 144A, 9.375%, 8/15/2039 | $53,493 | |
TOTAL | 475,156 | ||
Financial Institution - REIT - Apartment—0.1% | |||
300,000 | Mid-America Apartment Communities LP, Sr. Unsecd. Note, 3.750%, 6/15/2024 | 322,705 | |
140,000 | UDR, Inc., Sr. Unsecd. Note, Series MTN, 2.950%, 9/1/2026 | 150,394 | |
TOTAL | 473,099 | ||
Financial Institution - REIT - Other—0.1% | |||
90,000 | WP Carey, Inc., Sr. Unsecd. Note, 3.850%, 7/15/2029 | 100,565 | |
160,000 | WP Carey, Inc., Sr. Unsecd. Note, 4.600%, 4/1/2024 | 174,145 | |
TOTAL | 274,710 | ||
Financial Institution - REIT - Retail—0.1% | |||
400,000 | Kimco Realty Corp., Sr. Unsecd. Note, 2.700%, 10/1/2030 | 414,687 | |
30,000 | Kimco Realty Corp., Sr. Unsecd. Note, 3.400%, 11/1/2022 | 30,904 | |
TOTAL | 445,591 | ||
Financial Institution - REITs—0.0% | |||
70,000 | Camden Property Trust, Sr. Unsecd. Note, 2.800%, 5/15/2030 | 74,711 | |
Food Products—0.0% | |||
INR 73,689 | Britannia Industries Ltd., Unsecd. Note, Series N3, 5.500%, 6/3/2024 | 1,018 | |
Foreign-Local-Government—0.0% | |||
$ 50,000 | Quebec, Province of, Note, Series MTNA, 7.035%, 3/10/2026 | 62,692 | |
Municipal Services—0.1% | |||
130,824 | Army Hawaii Family Housing, 144A, 5.524%, 6/15/2050 | 177,306 | |
100,000 | Camp Pendleton & Quantico Housing LLC, 5.572%, 10/1/2050 | 124,195 | |
TOTAL | 301,501 | ||
Sovereign—0.1% | |||
JPY 30,000,000 | KFW, 2.050%, 2/16/2026 | 300,447 | |
Technology—0.4% | |||
$ 45,000 | Broadcom, Inc., Sr. Unsecd. Note, 144A, 3.750%, 2/15/2051 | 46,932 | |
320,000 | Dell International LLC / EMC Corp., 6.020%, 6/15/2026 | 382,403 | |
280,000 | Intel Corp., Sr. Unsecd. Note, 3.400%, 3/25/2025 | 304,655 | |
300,000 | Keysight Technologies, Inc., 4.550%, 10/30/2024 | 332,489 | |
380,000 | Molex Electronics Technologies LLC, Unsecd. Note, 144A, 3.900%, 4/15/2025 | 400,785 | |
TOTAL | 1,467,264 | ||
Transportation - Airlines—0.0% | |||
140,000 | Southwest Airlines Co., Sr. Unsecd. Note, 5.250%, 5/4/2025 | 158,750 | |
Transportation - Services—0.1% | |||
62,000 | Enterprise Rent-A-Car USA Finance Co., Sr. Unsecd. Note, 144A, 3.850%, 11/15/2024 | 67,367 | |
160,000 | United Parcel Service, Inc., Sr. Unsecd. Note, 3.900%, 4/1/2025 | 176,732 | |
TOTAL | 244,099 | ||
Utility - Electric—0.8% | |||
155,000 | Berkshire Hathaway Energy Co., Sr. Unsecd. Note, Series WI, 4.050%, 4/15/2025 | 171,358 | |
135,000 | Consolidated Edison Co., Sr. Unsecd. Note, Series 20B, 3.950%, 4/1/2050 | 157,062 | |
400,000 | Dominion Energy, Inc., Sr. Unsecd. Note, Series C, 2.250%, 8/15/2031 | 404,252 | |
275,000 | Electricite de France SA, Sr. Unsecd. Note, 144A, 4.500%, 9/21/2028 | 319,985 | |
190,000 | Emera US Finance LP, Sr. Unsecd. Note, 4.750%, 6/15/2046 | 226,351 | |
400,000 | Enel Finance International NV, Sr. Unsecd. Note, 144A, 2.650%, 9/10/2024 | 421,142 | |
300,000 | Exelon Corp., Sr. Unsecd. Note, 3.400%, 4/15/2026 | 327,485 | |
160,000 | Florida Power & Light Co., Sec. Fac. Bond, 2.850%, 4/1/2025 | 170,717 | |
140,000 | National Rural Utilities Cooperative Finance Corp., Sr. Sub. Note, 5.250%, 4/20/2046 | 152,350 |
24
Shares, Principal Amount or Contracts | Value | ||
CORPORATE BONDS—continued | |||
Utility - Electric—continued | |||
$ 200,000 | NiSource Finance Corp., Sr. Unsecd. Note, 3.950%, 3/30/2048 | $231,539 | |
400,000 | Northeast Utilities, Sr. Unsecd. Note, Series H, 3.150%, 1/15/2025 | 427,640 | |
125,000 | Wisconsin Electric Power Co., Sr. Unsecd. Note, 4.300%, 12/15/2045 | 155,400 | |
TOTAL | 3,165,281 | ||
Utility - Natural Gas—0.1% | |||
495,000 | National Fuel Gas Co., Sr. Unsecd. Note, 5.500%, 1/15/2026 | 572,100 | |
TOTAL CORPORATE BONDS (IDENTIFIED COST $19,683,069) | 21,566,899 | ||
U.S. TREASURIES—1.1% | |||
Treasury Inflation-Indexed Note—0.5% | |||
1,486,859 | U.S. Treasury Inflation-Protected Notes, 0.125%, 1/15/2031 | 1,659,393 | |
304,023 | U.S. Treasury Inflation-Protected Notes, 0.125%, 7/15/2031 | 340,645 | |
TOTAL | 2,000,038 | ||
U.S. Treasury Bond—0.5% | |||
175,000 | United States Treasury Bond, 1.875%, 2/15/2051 | 172,435 | |
750,000 | United States Treasury Bond, 2.000%, 8/15/2051 | 761,016 | |
1,010,000 | United States Treasury Bond, 2.375%, 5/15/2051 | 1,112,669 | |
3,000 | United States Treasury Bond, 3.000%, 11/15/2045 | 3,644 | |
TOTAL | 2,049,764 | ||
U.S. Treasury Note—0.1% | |||
100,000 | United States Treasury Note, 1.125%, 2/15/2031 | 98,607 | |
560,000 | United States Treasury Note, 1.625%, 5/15/2031 | 576,977 | |
TOTAL | 675,584 | ||
TOTAL U.S. TREASURIES (IDENTIFIED COST $4,690,955) | 4,725,386 | ||
ASSET-BACKED SECURITIES—0.8% | |||
Auto Receivables—0.3% | |||
475,000 | Santander Drive Auto Receivables Trust 2020-2, Class C, 1.460%, 9/15/2025 | 480,261 | |
500,000 | Toyota Auto Receivables Owner Trust 2020-B, Class A4, 1.660%, 9/15/2025 | 513,988 | |
97,958 | World Omni Auto Receivables Trust 2018-B, Class A3, 2.870%, 7/17/2023 | 98,708 | |
285,000 | World Omni Auto Receivables Trust 2021-A, Class C, 0.890%, 8/16/2027 | 284,160 | |
TOTAL | 1,377,117 | ||
Credit Card—0.2% | |||
700,000 | 4 | Trillium Credit Card Trust II 2020-1A, Class A, 0.458% (1-month USLIBOR +0.370%), 12/26/2024 | 701,470 |
Equipment Lease—0.2% | |||
300,000 | CNH Equipment Trust 2020-A, Class A3, 1.160%, 6/16/2025 | 303,211 | |
500,000 | HPEFS Equipment Trust 2020-2A, Class C, 2.000%, 7/22/2030 | 510,909 | |
TOTAL | 814,120 | ||
Other—0.1% | |||
300,000 | PFS Financing Corp. 2020-G, Class A, 0.970%, 2/15/2026 | 303,642 | |
Student Loans—0.0% | |||
133,248 | Navient Student Loan Trust 2021-A, Class A, 0.840%, 5/15/2069 | 133,758 | |
TOTAL ASSET-BACKED SECURITIES (IDENTIFIED COST $3,250,068) | 3,330,107 | ||
GOVERNMENT AGENCIES—0.2% | |||
Federal Home Loan Bank System—0.0% | |||
200,000 | Federal Home Loan Bank System Notes, 0.500%, 4/14/2025 | 199,657 |
25
Shares, Principal Amount or Contracts | Value | ||
GOVERNMENT AGENCIES—continued | |||
Federal National Mortgage Association—0.2% | |||
$ 635,000 | Federal National Mortgage Association Notes, 0.625%, 4/22/2025 | $636,791 | |
TOTAL GOVERNMENT AGENCIES (IDENTIFIED COST $834,898) | 836,448 | ||
COMMERCIAL MORTGAGE-BACKED SECURITIES—0.2% | |||
Agency Commercial Mortgage-Backed Securities—0.2% | |||
107,306 | Federal Home Loan Mortgage Corp. REMIC, Series K055, Class A1, 2.263%, 4/25/2025 | 110,525 | |
500,000 | Federal Home Loan Mortgage Corp. REMIC, Series K737, Class A2, 2.525%, 10/25/2026 | 535,695 | |
TOTAL COMMERCIAL MORTGAGE-BACKED SECURITIES (IDENTIFIED COST $624,424) | 646,220 | ||
COLLATERALIZED MORTGAGE OBLIGATIONS—0.1% | |||
Commercial Mortgage—0.1% | |||
255,000 | Bank, Class A4, 3.488%, 11/15/2050 | 283,861 | |
300,000 | JPMDB Commercial Mortgage Securities Trust 2016-C4, Class A3, 3.141%, 12/15/2049 | 326,983 | |
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (IDENTIFIED COST $571,639) | 610,844 | ||
MORTGAGE-BACKED SECURITIES—0.0% | |||
Federal Home Loan Mortgage Corporation REMIC—0.0% | |||
923 | Federal Home Loan Mortgage Corp., Pool C00592, 7.000%, 3/1/2028 | 1,042 | |
684 | Federal Home Loan Mortgage Corp., Pool C00896, 7.500%, 12/1/2029 | 789 | |
894 | Federal Home Loan Mortgage Corp., Pool C19588, 6.500%, 12/1/2028 | 1,017 | |
417 | Federal Home Loan Mortgage Corp., Pool C25621, 6.500%, 5/1/2029 | 476 | |
670 | Federal Home Loan Mortgage Corp., Pool C76361, 6.000%, 2/1/2033 | 780 | |
1,399 | Federal Home Loan Mortgage Corp., Pool G01444, 6.500%, 8/1/2032 | 1,629 | |
TOTAL | 5,733 | ||
Federal National Mortgage Association—0.0% | |||
841 | Federal National Mortgage Association, Pool 251697, 6.500%, 5/1/2028 | 940 | |
3,256 | Federal National Mortgage Association, Pool 252334, 6.500%, 2/1/2029 | 3,634 | |
2,316 | Federal National Mortgage Association, Pool 254905, 6.000%, 10/1/2033 | 2,695 | |
1,632 | Federal National Mortgage Association, Pool 255075, 5.500%, 2/1/2024 | 1,821 | |
213 | Federal National Mortgage Association, Pool 303168, 9.500%, 2/1/2025 | 232 | |
146 | Federal National Mortgage Association, Pool 323159, 7.500%, 4/1/2028 | 165 | |
1,351 | Federal National Mortgage Association, Pool 323640, 7.500%, 4/1/2029 | 1,521 | |
3,491 | Federal National Mortgage Association, Pool 545993, 6.000%, 11/1/2032 | 4,035 | |
1,460 | Federal National Mortgage Association, Pool 555272, 6.000%, 3/1/2033 | 1,687 | |
846 | Federal National Mortgage Association, Pool 713974, 5.500%, 7/1/2033 | 971 | |
2,605 | Federal National Mortgage Association, Pool 721502, 5.000%, 7/1/2033 | 2,923 | |
TOTAL | 20,624 | ||
Government National Mortgage Association—0.0% | |||
3,453 | Government National Mortgage Association, Pool 2796, 7.000%, 8/20/2029 | 3,921 | |
2,146 | Government National Mortgage Association, Pool 3040, 7.000%, 2/20/2031 | 2,467 | |
5,364 | Government National Mortgage Association, Pool 3188, 6.500%, 1/20/2032 | 6,160 | |
6,727 | Government National Mortgage Association, Pool 3239, 6.500%, 5/20/2032 | 7,760 | |
71 | Government National Mortgage Association, Pool 352214, 7.000%, 4/15/2023 | 73 | |
1,142 | Government National Mortgage Association, Pool 451522, 7.500%, 10/15/2027 | 1,287 | |
674 | Government National Mortgage Association, Pool 462556, 6.500%, 2/15/2028 | 746 | |
224 | Government National Mortgage Association, Pool 462739, 7.500%, 5/15/2028 | 252 | |
86 | Government National Mortgage Association, Pool 464835, 6.500%, 9/15/2028 | 96 | |
1,522 | Government National Mortgage Association, Pool 469699, 7.000%, 11/15/2028 | 1,713 | |
1,446 | Government National Mortgage Association, Pool 486760, 6.500%, 12/15/2028 | 1,625 | |
65 | Government National Mortgage Association, Pool 780339, 8.000%, 12/15/2023 | 68 |
26
Shares, Principal Amount or Contracts | Value | ||
MORTGAGE-BACKED SECURITIES—continued | |||
Government National Mortgage Association—continued | |||
$ 889 | Government National Mortgage Association, Pool 780453, 7.500%, 12/15/2025 | $973 | |
1,062 | Government National Mortgage Association, Pool 780584, 7.000%, 6/15/2027 | 1,162 | |
TOTAL | 28,303 | ||
TOTAL MORTGAGE-BACKED SECURITIES (IDENTIFIED COST $48,387) | 54,660 | ||
WARRANT—0.0% | |||
Energy—0.0% | |||
36 | 1 | Nabors Industries Ltd., Warrants (IDENTIFIED COST $0) | 209 |
PURCHASED CALL OPTIONS—0.0% | |||
109,000 | BNP AUD CALL/USD PUT, Notional Amount $109,000, Exercise Price $0.72. Expiration Date 9/3/2021 | 1,649 | |
109,000 | HSBC EUR CALL/USD PUT, Notional Amount $109,000, Exercise Price $1.17. Expiration Date 9/3/2021 | 651 | |
109,000 | HSBC GBP CALL/USD PUT, Notional Amount $109,000, Exercise Price $1.37. Expiration Date 9/3/2021 | 458 | |
3,000,000 | JPM EUR CALL/USD PUT, Notional Amount $3,000,000, Exercise Price $1.23. Expiration Date 9/16/2021 | 4 | |
TOTAL PURCHASED CALL OPTIONS (IDENTIFIED COST $15,840) | 2,762 | ||
PURCHASED PUT OPTION—0.0% | |||
109,000 | BNP USD PUT/CAD CALL, Notional Amount $109,000, Exercise Price $1.27. Expiration Date 9/3/2021 (IDENTIFIED COST $370) | 1,184 | |
INVESTMENT COMPANIES—17.5% | |||
408,491 | Bank Loan Core Fund | 3,946,021 | |
3,806,559 | Emerging Markets Core Fund | 39,131,426 | |
9,167,264 | Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares, 0.02%5 | 9,170,014 | |
560,904 | 6 | High Yield Bond Core Fund | 3,595,395 |
1,430,295 | Mortgage Core Fund | 14,174,219 | |
369,990 | Project and Trade Finance Core Fund | 3,281,815 | |
TOTAL INVESTMENT COMPANIES (IDENTIFIED COST $69,305,508) | 73,298,890 | ||
TOTAL INVESTMENT IN SECURITIES—98.1% (IDENTIFIED COST $336,968,161) | 411,323,981 | ||
OTHER ASSETS AND LIABILITIES - NET—1.9%7 | 7,832,516 | ||
TOTAL NET ASSETS—100% | $419,156,497 |
27
At August 31, 2021, the Fund had the following outstanding futures contracts:
Description | Number of Contracts | Notional Value | Expiration Date | Value and Unrealized Appreciation (Depreciation) |
Long Futures: | ||||
1S&P 500 E-Mini Long Futures | 63 | $14,239,575 | September 2021 | $421,896 |
1Amsterdam Index Long Futures | 6 | $1,115,668 | September 2021 | $2,992 |
1Australia 10-Year Bond Long Futures | 45 | $4,799,993 | September 2021 | $16,588 |
1CAC 40 10-Year Euro Long Futures | 213 | $16,795,160 | September 2021 | $94,630 |
1Canada 10-Year Bond Long Futures | 113 | $13,088,170 | December 2021 | $21,256 |
1Euro BTP Long Futures | 30 | $5,429,917 | September 2021 | $(53,019) |
1FTSE JSE Top 40 Long Futures | 138 | $5,741,256 | September 2021 | $(30,579) |
1FTSE/MIB Index Long Futures | 42 | $6,449,377 | September 2021 | $66,914 |
1IBEX 35 Index Long Futures | 10 | $1,042,248 | September 2021 | $(4,423) |
1Long GILT Long Futures | 29 | $5,113,013 | December 2021 | $(12,385) |
1TOPIX Index Long Futures | 9 | $1,607,099 | September 2021 | $69,056 |
1United States Treasury Notes 10-Year Ultra Long Futures | 1 | $148,016 | December 2021 | $(34) |
1United States Treasury Ultra Bond Long Futures | 4 | $789,125 | December 2021 | $(3,166) |
Short Futures: | ||||
1United States Treasury Notes 2-Year Short Futures | 10 | $2,203,281 | December 2021 | $(1,634) |
1United States Treasury Notes 5-Year Short Futures | 2 | $247,438 | December 2021 | $(567) |
1United States Treasury Notes 10-Year Short Futures | 21 | $2,802,516 | December 2021 | $(9,344) |
1DAX Index Short Futures | 2 | $932,793 | September 2021 | $(892) |
1Euro Bund Short Futures | 92 | $19,058,966 | September 2021 | $(162,570) |
1FTSE 100 Index Short Futures | 34 | $3,317,252 | September 2021 | $(41,551) |
1FTSE Taiwan Index Short Futures | 12 | $728,760 | September 2021 | $(10,134) |
1Hang Seng Index Short Futures | 52 | $8,609,557 | September 2021 | $(155,165) |
1Japan 10-Year Bond Short Futures | 4 | $5,532,337 | September 2021 | $(1,466) |
1MSCI Singapore IX ETS Short Futures | 200 | $5,238,573 | September 2021 | $23,583 |
1S&P/TSX 60 IX Short Futures | 2 | $389,934 | September 2021 | $(5,325) |
1SPI 200 Short Futures | 42 | $5,743,287 | September 2021 | $(25,759) |
1United States Treasury Long Bond Short Futures | 3 | $488,906 | December 2021 | $(939) |
NET UNREALIZED APPRECIATION ON FUTURES CONTRACTS | $197,963 |
The average notional value of long and short futures contracts held by the Fund throughout the period was $94,182,194 and $66,321,545, respectively. This is based on the contracts held as of each month-end throughout the nine-month fiscal period.
28
At August 31, 2021, the Fund had the following outstanding foreign exchange contracts:
Settlement Date | Counterparty | Foreign Currency Units to Deliver/Receive | In Exchange For | Net Unrealized Appreciation/ (Depreciation) | |
Contracts Purchased: | |||||
10/29/2021 | Citibank N.A. | 2,800,000 | AUD | 224,321,440 JPY | $9,015 |
10/29/2021 | Bank of America N.A. | 400,000 | AUD | $294,629 | $(1,919) |
10/29/2021 | JPMorgan Chase | 1,900,000 | BRL | $346,166 | $18,335 |
10/29/2021 | BNP Paribas SA | 1,900,000 | BRL | $357,490 | $7,012 |
10/29/2021 | State Street Bank & Trust Co. | 593,234 | CAD | 400,000 EUR | $(2,662) |
10/29/2021 | Morgan Stanley | 774,723 | CAD | $600,000 | $14,000 |
10/29/2021 | JPMorgan Chase | 2,128,574 | CAD | $1,700,000 | $(13,017) |
10/29/2021 | Bank of America N.A. | 2,260,872 | CAD | $1,800,000 | $(8,166) |
10/29/2021 | Credit Agricole CIB | 270,000,000 | CLP | $344,304 | $3,826 |
10/29/2021 | State Street Bank & Trust Co. | 340,000 | EUR | $400,567 | $1,333 |
10/29/2021 | Bank of America N.A. | 100,000 | GBP | $137,515 | $(14) |
10/29/2021 | JPMorgan Chase | 280,000 | GBP | $386,621 | $(1,617) |
10/29/2021 | Bank of America N.A. | 1,000,000 | GBP | $1,386,786 | $(11,772) |
10/29/2021 | Barclays Bank PLC Wholesale | 1,400,000 | GBP | $1,939,638 | $(14,620) |
10/29/2021 | Credit Agricole CIB | 512,674,125 | JPY | $4,650,000 | $12,207 |
10/29/2021 | Morgan Stanley | 14,078,035 | MXN | $700,000 | $(4,362) |
10/29/2021 | Bank of America N.A. | 700,000 | PEN | $177,152 | $(6,125) |
10/29/2021 | Citibank N.A. | 5,429,673 | PLN | $1,400,000 | $17,730 |
10/29/2021 | Citibank N.A. | 8,530,210 | PLN | $2,200,000 | $27,304 |
10/29/2021 | Credit Agricole CIB | 26,800,000 | RUB | $353,802 | $8,557 |
11/4/2021 | BNP Paribas SA | 1,232,994,000 | KRW | $1,070,310 | $(7,629) |
12/9/2021 | JPMorgan Chase | 78,706 | AUD | $60,611 | $(3,006) |
12/9/2021 | Morgan Stanley | 45,000 | EUR | $55,056 | $(1,820) |
12/9/2021 | JPMorgan Chase | 59,176 | EUR | $70,240 | $(232) |
12/9/2021 | Morgan Stanley | 1,170,000,000 | IDR | $80,640 | $706 |
12/9/2021 | Barclays Bank PLC Wholesale | 6,000,000 | INR | $80,591 | $802 |
12/9/2021 | JPMorgan Chase | 1,251,597 | MXN | $61,053 | $455 |
12/16/2021 | BNP Paribas SA | 2,300,000 | CNY | $349,237 | $3,868 |
12/21/2021 | Citibank N.A. | 70,269 | CAD | $58,144 | $(2,455) |
12/21/2021 | Bank of America N.A. | 40,970 | GBP | $56,854 | $(514) |
29
Settlement Date | Counterparty | Foreign Currency Units to Deliver/Receive | In Exchange For | Net Unrealized Appreciation/ (Depreciation) | |
Contracts Sold: | |||||
9/7/2021 | Bank of America N.A. | 56,234 | AUD | $40,875 | $(264) |
9/7/2021 | Bank of America N.A. | 51,719 | CAD | $40,875 | $(117) |
9/7/2021 | JPMorgan Chase | 23,147 | EUR | $27,250 | $(83) |
9/7/2021 | JPMorgan Chase | 19,825 | GBP | $27,250 | $(7) |
10/29/2021 | JPMorgan Chase | 2,800,000 | AUD | 221,238,332 JPY | $(37,052) |
10/29/2021 | JPMorgan Chase | 1,900,000 | BRL | $357,665 | $(6,837) |
10/29/2021 | State Street Bank & Trust Co. | 592,526 | CAD | 400,000 EUR | $3,223 |
10/29/2021 | HSBC Bank USA | 437,740 | CAD | $350,000 | $3,073 |
10/29/2021 | Bank of America N.A. | 610,149 | CAD | $490,909 | $7,341 |
10/29/2021 | Bank of America N.A. | 1,633,189 | CAD | $1,309,091 | $14,721 |
10/29/2021 | Bank of America N.A. | 1,691,324 | CAD | $1,350,000 | $9,556 |
10/29/2021 | JPMorgan Chase | 280,000 | GBP | $387,582 | $2,578 |
10/29/2021 | Barclays Bank PLC Wholesale | 280,000 | GBP | $388,451 | $3,447 |
10/29/2021 | Bank of America N.A. | 1,000,000 | GBP | $1,388,012 | $12,999 |
10/29/2021 | JPMorgan Chase | 14,293,366 | MXN | $700,000 | $(6,278) |
10/29/2021 | HSBC Bank USA | 700,000 | PEN | $172,249 | $1,222 |
10/29/2021 | Bank of America N.A. | 2,607,456 | PLN | $676,923 | $(3,904) |
10/29/2021 | Bank of America N.A. | 5,475,289 | PLN | $1,400,000 | $(29,640) |
10/29/2021 | Morgan Stanley | 5,849,535 | PLN | $1,523,077 | $(4,282) |
10/29/2021 | Morgan Stanley | 26,800,000 | RUB | $357,362 | $(4,997) |
11/4/2021 | HSBC Bank USA | 1,232,616,000 | KRW | $1,064,683 | $2,328 |
12/16/2021 | BNP Paribas SA | 2,300,000 | CNY | $352,561 | $(544) |
NET UNREALIZED APPRECIATION ON FOREIGN EXCHANGE CONTRACTS | $11,703 |
The average value at settlement date payable and receivable of foreign exchange contracts purchased and sold by the Fund throughout the period was $656,010 and $498,227, respectively. This is based on the contracts held as of each month-end throughout the nine-month fiscal period.
At August 31, 2021, the Fund had the following outstanding written options contracts:
Counterparty | Description | Notional Amount | Expiration Date | Exercise Price | Value |
Put Option: | |||||
JPM | EUR PUT/USD CALL | $3,000,000 | September 2021 | $1.18 | $(21,066) |
(Premiums Received $15,091) | $(21,066) |
The average market value of written put and call options held by the Fund throughout the period was $12,137 and $3,585, respectively. This is based on amounts held as of each month-end throughout the nine-month fiscal period.
The average market value of purchased put and call options held by the Fund throughout the period was $3,711 and $3,943, respectively. This is based on amounts held as of each month-end throughout the nine-month fiscal period.
Net Unrealized Appreciation/Depreciation on Futures Contracts, Foreign Exchange Contracts and Value of Written Options is included in “Other Assets and Liabilities–Net.”
30
Affiliated fund holdings are investment companies which are managed by the Adviser or an affiliate of the Adviser. Transactions with affiliated fund holdings during the period ended August 31, 2021, were as follows:
Affiliates | Value as of 11/30/2020 | Purchases at Cost | Proceeds from Sales |
Bank Loan Core Fund | $4,104,779 | $600,757 | $(827,940) |
Emerging Markets Core Fund | $36,224,114 | $5,729,287 | $(2,800,000) |
Federated Hermes Institutional Prime Value Obligations Fund, Institutional Shares | $3,404,693 | $98,433,209 | $(92,665,016) |
High Yield Bond Core Fund | $3,191,652 | $1,083,608 | $(761,400) |
Mortgage Core Fund | $12,848,878 | $7,515,304 | $(6,074,650) |
Project and Trade Finance Core Fund | $3,220,130 | $61,553 | $— |
TOTAL OF AFFILIATED TRANSACTIONS | $62,994,246 | $113,423,718 | $(103,129,006) |
32
Change in Unrealized Appreciation/ Depreciation | Net Realized Gain/ (Loss) | Value as of 8/31/2021 | Shares Held as of 8/31/2021 | Dividend Income |
$58,875 | $9,550 | $3,946,021 | 408,491 | $118,260 |
$1,046 | $(23,021) | $39,131,426 | 3,806,559 | $1,833,826 |
$558 | $(3,430) | $9,170,014 | 9,167,264 | $6,652 |
$(7,604) | $89,139 | $3,595,395 | 560,904 | $133,197 |
$(247,374) | $132,061 | $14,174,219 | 1,430,295 | $177,266 |
$132 | $— | $3,281,815 | 369,990 | $61,537 |
$(194,367) | $204,299 | $73,298,890 | 15,743,503 | $2,330,738 |
1 | Non-income-producing security. |
2 | Denotes a restricted security that either: (a) cannot be offered for public sale without first being registered, or availing of an exemption from registration, under the Securities Act of 1933; or (b) is subject to a contractual restriction on public sales. At August 31, 2021, these restricted securities amounted to $443,875, which represented 0.1% of total net assets. |
Additional information on restricted securities held at August 31, 2021, is as follows:
Security | Acquisition Date | Cost | Value |
HK Electric Investments Ltd. | 6/2/2021 | $263,941 | $259,099 |
Magnit, GDR | 11/4/2020 | $88,685 | $95,603 |
Phosagro OAO, GDR | 1/3/2019 | $57,181 | $86,818 |
XPEL, Inc. | 8/2/2021 | $2,883 | $2,355 |
3 | Market quotations and price evaluations are not available. Fair value determined using significant unobservable inputs in accordance with procedures established by and under the general supervision of the Fund’s Board of Trustees (the “Trustees”). |
4 | Floating/variable note with current rate and current maturity or next reset date shown. |
5 | 7-day net yield. |
6 | The High Yield Bond Core Fund is a diversified portfolio of below investment grade bonds. |
7 | Assets, other than investments in securities, less liabilities. |
Note: The categories of investments are shown as a percentage of total net assets at August 31, 2021.
Investment Valuation
In calculating its net asset value (NAV), the Fund generally values investments as follows:
■ Equity securities listed on an exchange or traded through a regulated market system are valued at their last reported sale price or official closing price in their principal exchange or market.
■ Fixed-income securities are fair valued using price evaluations provided by a pricing service approved by the Trustees.
■ Shares of other mutual funds or non-exchange-traded investment companies are valued based upon their reported NAVs.
■ Derivative contracts listed on exchanges are valued at their reported settlement or closing price, except that options are valued at the mean of closing bid and asked quotations.
■ Over-the-counter (OTC) derivative contracts are fair valued using price evaluations provided by a pricing service approved by the Trustees.
■ For securities that are fair valued in accordance with procedures established by and under the general supervision of the Trustees, certain factors may be considered, such as: the last traded or purchase price of the security, information obtained by contacting the issuer or dealers, analysis of the issuer’s financial statements or other available documents, fundamental analytical data, the nature and duration of restrictions on disposition, the movement of the market in which the security is normally traded, public trading in similar securities or derivative contracts of the issuer or comparable issuers, movement of a relevant index, or other factors including but not limited to industry changes and relevant government actions.
If any price, quotation, price evaluation or other pricing source is not readily available when the NAV is calculated, if the Fund cannot obtain price evaluations from a pricing service or from more than one dealer for an investment within a reasonable period of time as set forth in the Fund’s valuation policies and procedures, or if information furnished by a pricing service, in the opinion of the valuation committee (“Valuation Committee”), is deemed not representative of the fair value of such security, the Fund uses the fair value of the investment determined in accordance with the procedures described below. There can be no assurance that the Fund could obtain the fair value assigned to an investment if it sold the investment at approximately the time at which the Fund determines its NAV per share, and the actual value obtained could be materially different.
33
Fair Valuation and Significant Events Procedures
The Trustees have ultimate responsibility for determining the fair value of investments for which market quotations are not readily available. The Trustees have appointed a Valuation Committee comprised of officers of the Fund, Federated Global Investment Management Corp. (the “Adviser”) and certain of the Adviser’s affiliated companies to assist in determining fair value and in overseeing the calculation of the NAV. The Trustees have also authorized the use of pricing services recommended by the Valuation Committee to provide fair value evaluations of the current value of certain investments for purposes of calculating the NAV. The Valuation Committee employs various methods for reviewing third-party pricing-service evaluations including periodic reviews of third-party pricing services’ policies, procedures and valuation methods (including key inputs, methods, models and assumptions), transactional back-testing, comparisons of evaluations of different pricing services, and review of price challenges by the Adviser based on recent market activity. In the event that market quotations and price evaluations are not available for an investment, the Valuation Committee determines the fair value of the investment in accordance with procedures adopted by the Trustees. The Trustees periodically review and approve the fair valuations made by the Valuation Committee and any changes made to the procedures.
Factors considered by pricing services in evaluating an investment include the yields or prices of investments of comparable quality, coupon, maturity, call rights and other potential prepayments, terms and type, reported transactions, indications as to values from dealers and general market conditions. Some pricing services provide a single price evaluation reflecting the bid-side of the market for an investment (a “bid” evaluation). Other pricing services offer both bid evaluations and price evaluations indicative of a price between the prices bid and asked for the investment (a “mid” evaluation). The Fund normally uses bid evaluations for any U.S. Treasury and Agency securities, mortgage-backed securities and municipal securities. The Fund normally uses mid evaluations for any other types of fixed-income securities and any OTC derivative contracts. In the event that market quotations and price evaluations are not available for an investment, the fair value of the investment is determined in accordance with procedures adopted by the Trustees.
The Trustees also have adopted procedures requiring an investment to be priced at its fair value whenever the Adviser determines that a significant event affecting the value of the investment has occurred between the time as of which the price of the investment would otherwise be determined and the time as of which the NAV is computed. An event is considered significant if there is both an affirmative expectation that the investment’s value will change in response to the event and a reasonable basis for quantifying the resulting change in value. Examples of significant events that may occur after the close of the principal market on which a security is traded, or after the time of a price evaluation provided by a pricing service or a dealer, include:
■ With respect to securities traded principally in foreign markets, significant trends in U.S. equity markets or in the trading of foreign securities index futures contracts;
■ Political or other developments affecting the economy or markets in which an issuer conducts its operations or its securities are traded;
■ Announcements concerning matters such as acquisitions, recapitalizations, litigation developments, or a natural disaster affecting the issuer’s operations or regulatory changes or market developments affecting the issuer’s industry.
The Trustees have adopted procedures whereby the Valuation Committee uses a pricing service to provide factors to update the fair value of equity securities traded principally in foreign markets from the time of the close of their respective foreign stock exchanges to the pricing time of the Fund. For other significant events, the Fund may seek to obtain more current quotations or price evaluations from alternative pricing sources. If a reliable alternative pricing source is not available, the Fund will determine the fair value of the investment in accordance with the fair valuation procedures approved by the Trustees. The Trustees have ultimate responsibility for any fair valuations made in response to a significant event.
Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three broad levels listed below:
Level 1—quoted prices in active markets for identical securities.
Level 2—other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.). Also includes securities valued at amortized cost.
Level 3—significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments).
The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
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The following is a summary of the inputs used, as of August 31, 2021, in valuing the Fund’s assets carried at fair value:
Valuation Inputs | ||||
Level 1— Quoted Prices | Level 2— Other Significant Observable Inputs | Level 3— Significant Unobservable Inputs | Total | |
Equity Securities: | ||||
Common Stocks | ||||
Domestic | $151,271,182 | $— | $4,534 | $151,275,716 |
International | 21,368,277 | 109,763,735 | 15,299 | 131,147,311 |
Debt Securities: | ||||
Foreign Governments/Agencies | — | 23,827,345 | — | 23,827,345 |
Corporate Bonds | — | 21,549,428 | 17,471 | 21,566,899 |
U.S. Treasuries | — | 4,725,386 | — | 4,725,386 |
Asset-Backed Securities | — | 3,330,107 | — | 3,330,107 |
Government Agencies | — | 836,448 | — | 836,448 |
Commercial Mortgage-Backed Securities | — | 646,220 | — | 646,220 |
Collateralized Mortgage Obligations | — | 610,844 | — | 610,844 |
Mortgage-Backed Securities | — | 54,660 | — | 54,660 |
Warrant | 209 | — | — | 209 |
Purchased Call Options | — | 2,762 | — | 2,762 |
Purchased Put Option | — | 1,184 | — | 1,184 |
Investment Companies1 | 70,017,075 | — | — | 73,298,890 |
TOTAL SECURITIES | $242,656,743 | $165,348,119 | $37,304 | $411,323,981 |
Other Financial Instruments: | ||||
Assets | ||||
Futures Contracts | $716,915 | $— | $— | $716,915 |
Foreign Exchange Contracts | — | 185,638 | — | 185,638 |
Liabilities | ||||
Futures Contracts | (518,952) | — | — | (518,952) |
Foreign Exchange Contracts | — | (173,935) | — | (173,935) |
Written Options Contracts | — | (21,066) | — | (21,066) |
TOTAL OTHER FINANCIAL INSTRUMENTS | $197,963 | $(9,363) | $— | $188,600 |
1 | As permitted by U.S. generally accepted accounting principles, an Investment Company valued at $3,281,815 is measured at fair value using the NAV per share practical expedient and has not been categorized in the chart above but is included in the Total column. The price of shares redeemed of Project and Trade Finance Core Fund may be determined as of the closing NAV of the fund up to twenty-four days after receipt of a shareholder redemption request. |
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The following acronym(s) are used throughout this portfolio: | ||
ADR | —American Depositary Receipt | |
AUD | —Australian Dollar | |
BKNT | —Bank Notes | |
BRL | —Brazilian Real | |
CAD | —Canadian Dollar | |
CLP | —Chilean Peso | |
CNY | —Chinese Yuan Renminbi | |
EMTN | —Euro Medium Term Loan | |
EUR | —Euro Currency | |
GBP | —British Pound | |
GDR | —Global Depository Receipt | |
IDR | —Indonesian Rupiah | |
INR | —Indian Rupee | |
JPY | —Japanese Yen | |
KRW | —Korean Won | |
LIBOR | —London Interbank Offered Rate | |
MTN | —Medium Term Note | |
MXN | —Mexican Peso | |
PEN | —Peruvian Nuevo Sol | |
PLN | —Polish Zloty | |
REIT | —Real Estate Investment Trust | |
REMIC | —Real Estate Mortgage Investment Conduit | |
RUB | —Russian Ruble |
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