UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF
REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number: 811-22311
Schwab Strategic Trust – Schwab U.S. REIT ETF and Schwab Fundamental Index ETFs
(Exact name of registrant as specified in charter)
211 Main Street, San Francisco, California 94105
(Address of principal executive offices) (Zip code)
Jonathan de St. Paer
Schwab Strategic Trust – Schwab U.S. REIT ETF and Schwab Fundamental Index ETFs
211 Main Street, San Francisco, California 94105
(Name and address of agent for service)
Registrant’s telephone number, including area code: (415) 636-7000
Date of fiscal year end: February 28
Date of reporting period: February 28, 2021
Item 1: Report(s) to Shareholders.
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Total Returns for the 12 Months Ended February 28, 2021 | |
Schwab U.S. REIT ETF (Ticker Symbol: SCHH) | |
Market Price Return1 | -5.19% |
NAV Return1 | -4.98% |
Dow Jones Equity All REIT Capped Index2 | N/A |
REIT Spliced Index | -5.01% |
ETF Category: Morningstar Real Estate3 | 5.02% |
Performance Details | pages 7-9 |
1 | ETF performance must be shown based on both a market price and NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (Market Price) is determined using the Official Closing Price on the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively. |
2 | Effective June 22, 2020, the fund changed its index from the Dow Jones U.S. Select REIT IndexTM to the Dow Jones Equity All REIT Capped Index (index) in connection with a change to the fund’s investment objective and investment strategies to invest its assets in accordance with the index. The inception date of the Dow Jones Equity All REIT Capped Index is April 13, 2020. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs within the category as of the report date. |
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892427img47c8fd5f2.jpg)
President of Charles Schwab
Investment Management, Inc.
and the fund covered
in this report.
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* | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
![]() | Christopher Bliss, CFA, Vice President and Head of Passive Equity Strategies, leads the portfolio management team for Schwab’s passive equity mutual funds and ETFs. He also has overall responsibility for all aspects of the management of the fund. Before joining CSIM in 2016, Mr. Bliss spent 12 years at BlackRock (formerly Barclays Global Investors) managing and leading institutional index teams, most recently as a managing director and the head of the Americas institutional index team. Prior to BlackRock, he worked as an equity analyst and portfolio manager for Harris Bretall and before that, as a research analyst for JP Morgan. |
![]() | Jeremy Brown, Portfolio Manager, is responsible for the day-to-day co-management of the fund. Prior to joining CSIM in 2017, Mr. Brown spent six years with ALPS Advisors, Inc. in Denver, most recently as a senior analyst on the ETF portfolio management and research team where he performed portfolio management, trading, and analytics/research functions for ALPS ETFs and passive funds. Additionally, Mr. Brown led a number of investment research, commentary, industry trend analysis, and sales and marketing support initiatives. |
![]() | Ferian Juwono, CFA, Senior Portfolio Manager, is responsible for the day-to-day co-management of the fund. Prior to joining CSIM in 2010, Mr. Juwono worked at BlackRock (formerly Barclays Global Investors) where he spent more than three years as a portfolio manager, managing equity index funds for institutional clients, and two years as a senior business analyst. Prior to that, Mr. Juwono worked for more than four years as a senior financial analyst with Union Bank of California. |
![]() | Sabya Sinha, Portfolio Manager, is responsible for the day-to-day co-management of the fund. Prior to joining CSIM in 2015, Mr. Sinha spent a year at F-Squared Investments on the product development and analytics team. Prior to F-Squared, he worked at IndexIQ Advisors as a senior index portfolio manager for three years and for Bank of America’s Columbia Management subsidiary as a portfolio manager for three years. Mr. Sinha also spent time as a software consultant at DPM Mellon, LLC and an equity trader at Jane Street Capital. |
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Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab U.S. REIT ETF (1/13/11) | |||
Market Price Return2 | -5.19% | 3.62% | 6.43% |
NAV Return2 | -4.98% | 3.61% | 6.44% |
Dow Jones Equity All REIT Capped Index3 | N/A | N/A | N/A |
REIT Spliced Index | -5.01% | 3.68% | 6.53% |
Dow Jones U.S. Select REIT IndexTM | 1.50% | 5.06% | 7.24% |
ETF Category: Morningstar Real Estate4 | 5.02% | 6.99% | 7.61% |
Fund Expense Ratio5: 0.07% |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. |
2 | ETF performance must be shown based on both a market price and NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (Market Price) is determined using the Official Closing Price on the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively. |
3 | Effective June 22, 2020, the fund changed its index from the Dow Jones U.S. Select REIT IndexTM to the Dow Jones Equity All REIT Capped Index (index) in connection with a change to the fund’s investment objective and investment strategies to invest its assets in accordance with the index. The inception date of the Dow Jones Equity All REIT Capped Index is April 13, 2020. |
4 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs within the category as of the report date. |
5 | As stated in the prospectus. |
Number of Holdings | 142 |
Weighted Average Market Cap (millions) | $30,711 |
Price/Earnings Ratio (P/E) | 41.8 |
Price/Book Ratio (P/B) | 2.6 |
Portfolio Turnover Rate | 59% 2 |
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1 | Excludes derivatives. |
2 | Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions. |
3 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
4 | Amount is less than 0.05%. |
5 | This list is not a recommendation of any security by the investment adviser. |
Expense Ratio (Annualized)1 | Beginning Account Value at 9/1/20 | Ending Account Value (Net of Expenses) at 2/28/21 | Expenses Paid During Period 9/1/20-2/28/212 | |
Schwab U.S. REIT ETF | ||||
Actual Return | 0.07% | $1,000.00 | $1,085.50 | $0.36 |
Hypothetical 5% Return | 0.07% | $1,000.00 | $1,024.45 | $0.35 |
1 | Based on the most recent six-month expense ratio. |
2 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by 181 days of the period, and divided by 365 days of the fiscal year. |
3/1/20– 2/28/21 | 3/1/19– 2/29/20 | 3/1/18– 2/28/19 | 3/1/17– 2/28/18 | 3/1/16– 2/28/17 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $42.29 | $43.29 | $37.08 | $42.08 | $37.71 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.84 | 1.32 | 1.29 | 1.20 | 1.04 | |
Net realized and unrealized gains (losses) | (3.08) | (1.00) | 6.33 | (5.28) | 4.48 | |
Total from investment operations | (2.24) | 0.32 | 7.62 | (4.08) | 5.52 | |
Less distributions: | ||||||
Distributions from net investment income | (1.09) | (1.32) | (1.41) | (0.92) | (1.15) | |
Net asset value at end of period | $38.96 | $42.29 | $43.29 | $37.08 | $42.08 | |
Total return | (4.98%) | 0.59% | 20.85% | (9.91%) | 14.74% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | |
Net investment income (loss) | 2.33% | 2.88% | 3.17% | 2.93% | 2.50% | |
Portfolio turnover rate2 | 59% | 6% | 7% | 8% | 14% | |
Net assets, end of period (x 1,000) | $4,891,906 | $5,717,395 | $5,127,268 | $3,691,377 | $3,037,968 | |
Security | Number of Shares | Value ($) |
Common Stock 99.9% of net assets | ||
Diversified REITs 4.0% | ||
Alexander & Baldwin, Inc. | 302,885 | 5,291,401 |
American Assets Trust, Inc. | 210,103 | 6,530,001 |
Broadstone Net Lease, Inc., Class A | 155,701 | 2,816,631 |
Colony Capital, Inc. | 2,017,416 | 11,943,103 |
Empire State Realty Trust, Inc., Class A | 586,721 | 6,459,798 |
Essential Properties Realty Trust, Inc. | 438,668 | 10,177,098 |
Global Net Lease, Inc. | 375,655 | 6,979,670 |
iStar, Inc. | 309,842 | 5,490,400 |
PS Business Parks, Inc. | 84,161 | 12,191,563 |
STORE Capital Corp. | 990,703 | 33,129,108 |
VEREIT, Inc. | 915,266 | 35,695,374 |
Washington Real Estate Investment Trust | 345,456 | 7,779,669 |
WP Carey, Inc. | 735,241 | 50,393,418 |
194,877,234 | ||
Health Care REITs 9.6% | ||
CareTrust REIT, Inc. | 400,981 | 8,893,759 |
Community Healthcare Trust, Inc. | 92,207 | 4,041,433 |
Diversified Healthcare Trust | 998,306 | 4,492,377 |
Global Medical REIT, Inc. | 182,054 | 2,452,267 |
Healthcare Realty Trust, Inc. | 570,141 | 16,454,269 |
Healthcare Trust of America, Inc., Class A | 916,359 | 24,888,310 |
Healthpeak Properties, Inc. | 2,256,827 | 65,651,097 |
LTC Properties, Inc. | 164,713 | 6,738,409 |
Medical Properties Trust, Inc. | 2,380,975 | 51,405,250 |
National Health Investors, Inc. | 187,599 | 12,807,384 |
Omega Healthcare Investors, Inc. | 951,607 | 35,342,684 |
Physicians Realty Trust | 872,940 | 14,839,980 |
Sabra Health Care REIT, Inc. | 867,483 | 14,938,057 |
Universal Health Realty Income Trust | 53,631 | 3,322,441 |
Ventas, Inc. | 1,570,210 | 83,064,109 |
Welltower, Inc. | 1,749,363 | 118,781,748 |
468,113,574 | ||
Hotel & Resort REITs 3.5% | ||
Apple Hospitality REIT, Inc. | 871,070 | 12,412,748 |
Chatham Lodging Trust * | 197,579 | 2,752,275 |
DiamondRock Hospitality Co. * | 836,794 | 8,468,355 |
Hersha Hospitality Trust * | 152,143 | 1,691,830 |
Host Hotels & Resorts, Inc. | 2,956,833 | 49,053,859 |
Park Hotels & Resorts, Inc. | 987,374 | 21,475,385 |
Pebblebrook Hotel Trust | 549,304 | 12,447,229 |
RLJ Lodging Trust | 691,154 | 10,851,118 |
Ryman Hospitality Properties, Inc. | 230,479 | 17,813,722 |
Service Properties Trust | 691,161 | 8,874,507 |
Summit Hotel Properties, Inc. * | 443,125 | 4,586,344 |
Sunstone Hotel Investors, Inc. | 903,055 | 11,929,357 |
Xenia Hotels & Resorts, Inc. | 476,984 | 9,525,370 |
171,882,099 | ||
Security | Number of Shares | Value ($) |
Industrial REITs 11.2% | ||
Americold Realty Trust | 858,797 | 30,092,247 |
Duke Realty Corp. | 1,559,206 | 61,198,835 |
EastGroup Properties, Inc. | 165,844 | 22,573,027 |
First Industrial Realty Trust, Inc. | 541,158 | 23,112,858 |
Industrial Logistics Properties Trust | 273,163 | 5,810,177 |
Innovative Industrial Properties, Inc. | 92,990 | 18,133,050 |
Lexington Realty Trust | 1,161,683 | 12,453,242 |
Monmouth Real Estate Investment Corp. | 411,499 | 7,127,163 |
Prologis, Inc. | 3,064,956 | 303,645,191 |
Rexford Industrial Realty, Inc. | 547,172 | 26,111,048 |
STAG Industrial, Inc. | 625,208 | 19,725,312 |
Terreno Realty Corp. | 286,539 | 16,057,646 |
546,039,796 | ||
Office REITs 7.9% | ||
Alexandria Real Estate Equities, Inc. | 519,064 | 82,889,330 |
Boston Properties, Inc. | 593,798 | 58,863,196 |
Brandywine Realty Trust | 715,352 | 8,748,755 |
Columbia Property Trust, Inc. | 480,377 | 6,782,923 |
Corporate Office Properties Trust | 470,540 | 12,234,040 |
Cousins Properties, Inc. | 623,117 | 20,899,344 |
Douglas Emmett, Inc. | 691,447 | 22,644,889 |
Easterly Government Properties, Inc. | 340,808 | 7,490,960 |
Equity Commonwealth | 509,508 | 14,373,221 |
Highwoods Properties, Inc. | 435,425 | 17,399,583 |
Hudson Pacific Properties, Inc. | 637,802 | 16,321,353 |
JBG SMITH Properties | 466,475 | 14,810,581 |
Kilroy Realty Corp. | 439,663 | 27,901,014 |
Mack-Cali Realty Corp. | 360,990 | 5,043,030 |
Office Properties Income Trust | 202,299 | 5,116,142 |
Paramount Group, Inc. | 702,660 | 6,513,658 |
Piedmont Office Realty Trust, Inc., Class A | 528,405 | 9,014,590 |
SL Green Realty Corp. | 304,034 | 20,999,629 |
Vornado Realty Trust | 657,479 | 28,232,148 |
386,278,386 | ||
Residential REITs 14.4% | ||
American Campus Communities, Inc. | 577,062 | 23,636,459 |
American Homes 4 Rent, Class A | 1,124,583 | 35,019,514 |
Apartment Income REIT Corp. | 624,135 | 25,514,639 |
Apartment Investment & Management Co., Class A | 624,417 | 2,972,225 |
AvalonBay Communities, Inc. | 585,243 | 102,856,457 |
Camden Property Trust | 408,272 | 42,521,529 |
Centerspace | 54,333 | 3,728,874 |
Equity LifeStyle Properties, Inc. | 710,391 | 43,795,605 |
Equity Residential | 1,435,678 | 93,907,698 |
Essex Property Trust, Inc. | 273,339 | 69,644,044 |
Independence Realty Trust, Inc. | 397,005 | 5,573,950 |
Invitation Homes, Inc. | 2,349,720 | 68,470,841 |
Mid-America Apartment Communities, Inc. | 479,419 | 64,592,122 |
NexPoint Residential Trust, Inc. | 92,779 | 3,807,650 |
Preferred Apartment Communities, Inc., Class A | 207,913 | 1,711,124 |
Security | Number of Shares | Value ($) |
Sun Communities, Inc. | 450,901 | 68,514,407 |
UDR, Inc. | 1,234,470 | 50,823,130 |
707,090,268 | ||
Retail REITs 10.7% | ||
Acadia Realty Trust | 361,066 | 6,827,758 |
Agree Realty Corp. | 244,697 | 15,797,638 |
Alexander's, Inc. | 8,970 | 2,431,857 |
American Finance Trust, Inc. | 456,006 | 4,040,213 |
Brixmor Property Group, Inc. | 1,243,263 | 24,467,416 |
Federal Realty Investment Trust | 288,570 | 29,194,627 |
Getty Realty Corp. | 150,613 | 4,214,152 |
Kimco Realty Corp. | 1,813,002 | 33,232,327 |
Kite Realty Group Trust | 352,392 | 6,755,355 |
National Retail Properties, Inc. | 728,254 | 31,926,655 |
NETSTREIT Corp. | 59,345 | 1,042,692 |
Realty Income Corp. | 1,471,350 | 88,663,551 |
Regency Centers Corp. | 661,512 | 36,237,627 |
Retail Opportunity Investments Corp. | 494,966 | 7,825,412 |
Retail Properties of America, Inc., Class A | 898,218 | 9,458,235 |
RPT Realty | 339,439 | 3,723,646 |
Seritage Growth Properties, Class A * | 151,223 | 3,053,192 |
Simon Property Group, Inc. | 1,374,526 | 155,211,476 |
SITE Centers Corp. | 632,218 | 8,433,788 |
Spirit Realty Capital, Inc. | 478,686 | 20,593,072 |
Tanger Factory Outlet Centers, Inc. | 391,521 | 6,162,541 |
The Macerich Co. | 469,107 | 6,060,862 |
Urban Edge Properties | 460,308 | 7,595,082 |
Weingarten Realty Investors | 505,317 | 12,829,999 |
525,779,173 | ||
Security & Alarm Services 0.1% | ||
CoreCivic, Inc. | 501,403 | 3,600,074 |
Specialized REITs 38.5% | ||
American Tower Corp. | 1,841,789 | 398,065,857 |
CoreSite Realty Corp. | 179,339 | 21,827,350 |
Crown Castle International Corp. | 1,788,251 | 278,520,093 |
CubeSmart | 818,516 | 30,252,351 |
CyrusOne, Inc. | 504,823 | 33,131,533 |
Digital Realty Trust, Inc. | 1,174,469 | 158,236,208 |
EPR Properties | 312,954 | 14,139,262 |
Equinix, Inc. | 312,692 | 202,730,731 |
Extra Space Storage, Inc. | 541,745 | 68,097,346 |
Security | Number of Shares | Value ($) |
Four Corners Property Trust, Inc. | 307,842 | 8,339,440 |
Gaming & Leisure Properties, Inc. | 905,913 | 40,222,537 |
Iron Mountain, Inc. | 1,208,019 | 42,026,981 |
Lamar Advertising Co., Class A | 362,295 | 31,371,124 |
Life Storage, Inc. | 305,565 | 25,636,904 |
National Storage Affiliates Trust | 260,820 | 10,054,611 |
Outfront Media, Inc. | 605,939 | 12,288,443 |
PotlatchDeltic Corp. | 280,365 | 14,228,524 |
Public Storage | 637,586 | 149,156,869 |
QTS Realty Trust, Inc., Class A | 269,482 | 16,740,222 |
Rayonier, Inc. | 572,000 | 18,670,080 |
Safehold, Inc. | 59,959 | 4,571,874 |
SBA Communications Corp. | 465,796 | 118,838,533 |
The GEO Group, Inc. | 508,182 | 3,658,910 |
Uniti Group, Inc. | 976,577 | 11,631,032 |
VICI Properties, Inc. | 2,249,704 | 64,116,564 |
Weyerhaeuser Co. | 3,129,018 | 105,979,840 |
1,882,533,219 | ||
Total Common Stock | ||
(Cost $4,692,503,127) | 4,886,193,823 | |
Other Investment Company 0.0% of net assets | ||
Money Market Fund 0.0% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (a) | 1,460,211 | 1,460,211 |
Total Other Investment Company | ||
(Cost $1,460,211) | 1,460,211 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
Long | ||||||
Dow Jones U.S. Real Estate Index, expires 03/19/21 | 165 | 5,623,200 | (106,448) |
* | Non-income producing security. |
(a) | The rate shown is the 7-day yield. |
REIT — | Real Estate Investment Trust |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $4,886,193,823 | $— | $— | $4,886,193,823 | |
Other Investment Company1 | 1,460,211 | — | — | 1,460,211 | |
Liabilities | |||||
Futures Contracts2 | (106,448) | — | — | (106,448) | |
Total | $4,887,547,586 | $— | $— | $4,887,547,586 |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments in unaffiliated issuers, at value (cost $4,693,963,338) | $4,887,654,034 | |
Deposit with broker for futures contracts | 1,633,000 | |
Receivables: | ||
Fund shares sold | 3,896,381 | |
Dividends | 2,937,674 | |
Income from securities on loan | + | 7,519 |
Total assets | 4,896,128,608 | |
Liabilities | ||
Payables: | ||
Investments bought | 3,883,284 | |
Management fees | 263,876 | |
Variation margin on futures contracts | + | 75,680 |
Total liabilities | 4,222,840 | |
Net Assets | ||
Total assets | 4,896,128,608 | |
Total liabilities | – | 4,222,840 |
Net assets | $4,891,905,768 | |
Net Assets by Source | ||
Capital received from investors | 5,688,418,921 | |
Total distributable loss | (796,513,153) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$4,891,905,768 | 125,550,000 | $38.96 | ||
Investment Income | ||
Dividends | $108,617,688 | |
Securities on loan, net | + | 459,035 |
Total investment income | 109,076,723 | |
Expenses | ||
Management fees | 3,170,096 | |
Total expenses | – | 3,170,096 |
Net investment income | 105,906,627 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments | (982,911,495) | |
Net realized gains on in-kind redemptions | 366,132,965 | |
Net realized gains on futures contracts | + | 2,786,547 |
Net realized losses | (613,991,983) | |
Net change in unrealized appreciation (depreciation) on investments | 150,110,534 | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | 333,725 |
Net change in unrealized appreciation (depreciation) | + | 150,444,259 |
Net realized and unrealized losses | (463,547,724) | |
Decrease in net assets resulting from operations | ($357,641,097) |
Operations | ||||
3/1/20-2/28/21 | 3/1/19-2/29/20 | |||
Net investment income | $105,906,627 | $166,469,258 | ||
Net realized gains (losses) | (613,991,983) | 151,705,325 | ||
Net change in unrealized appreciation (depreciation) | + | 150,444,259 | (323,093,028) | |
Decrease in net assets resulting from operations | (357,641,097) | (4,918,445) | ||
Distributions to Shareholders | ||||
Total distributions | ($134,110,850) | ($166,671,820) |
Transactions in Fund Shares | ||||||||
3/1/20-2/28/21 | 3/1/19-2/29/20 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 40,350,000 | $1,438,051,306 | 31,500,000 | $1,434,130,373 | ||||
Shares redeemed | + | (50,000,000) | (1,771,789,053) | (14,750,000) | (672,412,627) | |||
Net transactions in fund shares | (9,650,000) | ($333,737,747) | 16,750,000 | $761,717,746 | ||||
Shares Outstanding and Net Assets | ||||||||
3/1/20-2/28/21 | 3/1/19-2/29/20 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 135,200,000 | $5,717,395,462 | 118,450,000 | $5,127,267,981 | ||||
Total increase (decrease) | + | (9,650,000) | (825,489,694) | 16,750,000 | 590,127,481 | |||
End of period | 125,550,000 | $4,891,905,768 | 135,200,000 | $5,717,395,462 |
SCHWAB STRATEGIC TRUST (ORGANIZED JANUARY 27, 2009) | |
Schwab U.S. REIT ETF | Schwab Short-Term U.S. Treasury ETF |
Schwab U.S. Broad Market ETF | Schwab Intermediate-Term U.S. Treasury ETF |
Schwab 1000 Index® ETF | Schwab Long-Term U.S. Treasury ETF |
Schwab U.S. Large-Cap ETF | Schwab U.S. Aggregate Bond ETF |
Schwab U.S. Large-Cap Growth ETF | Schwab 1-5 Year Corporate Bond ETF |
Schwab U.S. Large-Cap Value ETF | Schwab 5-10 Year Corporate Bond ETF |
Schwab U.S. Mid-Cap ETF | Schwab Fundamental U.S. Broad Market Index ETF |
Schwab U.S. Small-Cap ETF | Schwab Fundamental U.S. Large Company Index ETF |
Schwab U.S. Dividend Equity ETF | Schwab Fundamental U.S. Small Company Index ETF |
Schwab International Equity ETF | Schwab Fundamental International Large Company Index ETF |
Schwab International Small-Cap Equity ETF | Schwab Fundamental International Small Company Index ETF |
Schwab Emerging Markets Equity ETF | Schwab Fundamental Emerging Markets Large Company Index ETF |
Schwab U.S. TIPS ETF |
2. Significant Accounting Policies:
3. Risk Factors:
4. Affiliates and Affiliated Transactions:
Schwab MarketTrack All Equity Portfolio | 0.8% |
Schwab MarketTrack Balanced Portfolio | 0.4% |
Schwab MarketTrack Conservative Portfolio | 0.1% |
Schwab MarketTrack Growth Portfolio | 0.7% |
Schwab VIT Balanced Portfolio | 0.1% |
Schwab VIT Balanced with Growth Portfolio | 0.2% |
Schwab VIT Growth Portfolio | 0.2% |
Schwab Target 2010 Index Fund | 0.0%* |
Schwab Target 2015 Index Fund | 0.0%* |
Schwab Target 2020 Index Fund | 0.1% |
Schwab Target 2025 Index Fund | 0.2% |
Schwab Target 2030 Index Fund | 0.4% |
Schwab Target 2035 Index Fund | 0.3% |
Schwab Target 2040 Index Fund | 0.4% |
Schwab Target 2045 Index Fund | 0.2% |
Schwab Target 2050 Index Fund | 0.3% |
Schwab Target 2055 Index Fund | 0.2% |
Schwab Target 2060 Index Fund | 0.2% |
Schwab Target 2065 Index Fund | 0.0%* |
* | Less than 0.05% |
5. Other Service Providers:
6. Board of Trustees:
7. Borrowing from Banks:
8. Derivatives:
9. Purchases and Sales of Investment Securities:
Purchases of Securities | Sales of Securities |
$2,743,474,094 | $2,714,693,140 |
10. In-Kind Transactions:
In-Kind Purchases of Securities | In-Kind Sales of Securities |
$1,319,725,658 | $1,646,015,717 |
11. Federal Income Taxes
Tax cost | $4,743,322,173 |
Gross unrealized appreciation | $459,173,164 |
Gross unrealized depreciation | (314,947,751) |
Net unrealized appreciation (depreciation) | $144,225,413 |
Net unrealized appreciation (depreciation) on investments | $144,225,413 |
Capital loss carryforwards and other losses | (940,738,566) |
Total | ($796,513,153) |
Current fiscal year end distributions | |
Ordinary income | $134,110,850 |
Prior fiscal year end distributions | |
Ordinary income | $166,671,820 |
12. Independent Registered Public Accounting Firm:
13. Subsequent Events:
Denver, Colorado
April 16, 2021
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor (Jan. 2009 – present). Formerly, Managing Director, Pacific Investment Management Company, LLC (PIMCO) (investment management firm) and President, PIMCO Funds. | 103 | None |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Fellow (Oct. 1979 – present), The Hoover Institution at Stanford University (public policy think tank); Senior Fellow (2000 – present), Stanford Institute for Economic Policy Research; Professor of Public Policy (1994 – 2015), Stanford University. | 103 | Director (2005 – 2020), Gilead Sciences, Inc. |
Nancy F. Heller 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Retired. President and Chairman (2014 – 2016), TIAA Charitable (financial services); Senior Managing Director (2003 – 2016), TIAA (financial services). | 103 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 103 | Director (2004 – present), Corcept Therapeutics Incorporated Director (2009 – present), Adamas Pharmaceuticals, Inc. Director (2003 – 2019), Symantec Corporation |
Jane P. Moncreiff 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Consultant (2018 – present), Fulham Advisers LLC (management consulting); Chief Investment Officer (2009 – 2017), CareGroup Healthcare System, Inc. (healthcare). | 103 | None |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. Executive Vice President and General Manager of Small Business Group (Dec. 2008 – Sept. 2013), Intuit, Inc. (financial software and services firm for consumers and small businesses). | 103 | Director (2008 – present), KLA-Tencor Corporation |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant (2008 – present), Patmore Management Consulting (management consulting). | 103 | None |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Director, President and Chief Executive Officer (Oct. 2008 – present), The Charles Schwab Corporation; President and Chief Executive Officer (Oct. 2008 – present) and Director (May 2008 – present), Charles Schwab & Co., Inc.; Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (July 2019 – present), Charles Schwab Trust Bank; Director (May 2008 – present) and President and Chief Executive Officer (Aug. 2017 – present), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation; Director (July 2016 – present), Charles Schwab Investment Management, Inc. | 103 | Director (2008 – present), The Charles Schwab Corporation |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Chief Operating Officer (Feb. 2018 – present) and Senior Executive Vice President (July 2015 – Feb. 2018), The Charles Schwab Corporation; Senior Executive Vice President (July 2015 – present), Charles Schwab & Co., Inc.; Chief Financial Officer (July 2015 – Aug. 2017) and Executive Vice President and Chief Financial Officer (May 2007 – July 2015), The Charles Schwab Corporation and Charles Schwab & Co., Inc.; Director (May 2007 – present), Charles Schwab & Co., Inc.; Director (Apr. 2010 – present) and Chief Executive Officer (July 2013 – Apr. 2015), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (May 2007 – present), Chief Financial Officer (May 2007 – Aug. 2017), Senior Executive Vice President (Feb. 2016 – present), and Executive Vice President (May 2007 – Feb. 2016), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation. | 103 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Jonathan de St. Paer 1973 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Director (Apr. 2019 – present), President (Oct. 2018 – present), Chief Operating Officer (Jan. 2020 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – present) and Chief Operating Officer (Jan. 2020 – present), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (Apr. 2019 – present), President (Nov. 2018 – present) and Trustee (Apr. 2019 – Dec. 2020), Schwab Funds, Laudus Funds and Schwab ETFs; Director (Apr. 2019 – present), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), and Vice President (Jan. 2009 – Dec. 2013), Charles Schwab & Co., Inc. |
Mark Fischer 1970 Treasurer, Chief Financial Officer and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer (Jan. 2016 – present) and Chief Operating Officer (Dec. 2020 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Assistant Treasurer (Dec. 2013 – Dec. 2015), Schwab Funds and Laudus Funds; Assistant Treasurer (Nov. 2013 – Dec. 2015), Schwab ETFs; Chief Financial Officer (Mar. 2020 – present) and Vice President (Oct. 2013 – present), Charles Schwab Investment Management, Inc.; Executive Director (Apr. 2011 – Sept. 2013), J.P. Morgan Investor Services; Assistant Treasurer (May 2005 – Mar. 2011), Massachusetts Financial Service Investment Management. |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Head of the Portfolio Management Group and Vice President of Portfolio Management (May 2009 – Apr. 2011), Financial Engines, Inc. (investment management firm); Head of Quantitative Equity (July 2004 – Jan. 2009), ING Investment Management. |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Investment Officer – Fixed Income (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Senior Managing Director and Global Head of Active Fixed-Income Strategies (Jan. 2008 – Oct. 2010), State Street Global Advisors; Director of Alpha Strategies (Apr. 2006 – Jan. 2008), Loomis, Sayles & Company (investment management firm). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President (Sept. 2011 – present) and Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present) and Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (Apr. 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk (Apr. 2011 – present), Laudus Funds; Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Vice President (July 2005 – present), Charles Schwab & Co., Inc.; Vice President (Sept. 2005 – present), Charles Schwab Investment Management, Inc.; Vice President (Dec. 2005 – present) and Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary (Oct. 2009 – present), Schwab ETFs. |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger and Mr. Martinetto are Interested Trustees. Mr. Bettinger is an Interested Trustee because he owns stock of The Charles Schwab Corporation (CSC), the parent company of Charles Schwab Investment Management, Inc. (CSIM), the investment adviser for the trusts in the Fund Complex, is an employee and director of Charles Schwab & Co., Inc. (CS&Co), the principal underwriter for The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust, and is a director of CSIM. Mr. Martinetto is an Interested Trustee because he owns stock of CSC and is an employee and director of CS&Co. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
Schwab ETFs
Index ETF
Printed on recycled paper.
* | FUNDAMENTAL INDEX is a registered trademark of Research Affiliates LLC. |
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409img04147ce71.jpg)
Schwab Fundamental U.S. Broad Market Index ETF | FNDB |
Schwab Fundamental U.S. Large Company Index ETF | FNDX |
Schwab Fundamental U.S. Small Company Index ETF | FNDA |
Schwab Fundamental International Large Company Index ETF | FNDF |
Schwab Fundamental International Small Company Index ETF | FNDC |
Schwab Fundamental Emerging Markets Large Company Index ETF | FNDE |
* | SCHWAB is a registered trademark of Charles Schwab & Co., Inc. FUNDAMENTAL INDEX is a registered trademark of Research Affiliates LLC. |
Total Returns for the 12 Months Ended February 28, 2021 | |
Schwab Fundamental U.S. Broad Market Index ETF (Ticker Symbol: FNDB) | |
Market Price Return1 | 32.62% |
NAV Return1 | 33.35% |
Russell RAFITM US Index | 33.61% |
Russell 3000® Index | 35.33% |
ETF Category: Morningstar Large Value2 | 22.52% |
Performance Details | pages 8-10 |
Schwab Fundamental U.S. Large Company Index ETF (Ticker Symbol: FNDX) | |
Market Price Return1 | 32.06% |
NAV Return1 | 32.40% |
Russell RAFITM US Large Company Index | 32.68% |
Russell 1000® Index | 34.28% |
ETF Category: Morningstar Large Value2 | 22.52% |
Performance Details | pages 11-13 |
Schwab Fundamental U.S. Small Company Index ETF (Ticker Symbol: FNDA) | |
Market Price Return1 | 42.80% |
NAV Return1 | 42.73% |
Russell RAFITM US Small Company Index | 42.76% |
Russell 2000® Index | 51.00% |
ETF Category: Morningstar Small Blend2 | 41.65% |
Performance Details | pages 14-16 |
Total Returns for the 12 Months Ended February 28, 2021 | |
Schwab Fundamental International Large Company Index ETF (Ticker Symbol: FNDF) | |
Market Price Return1 | 25.49% |
NAV Return1 | 25.47% |
Russell RAFITM Developed ex US Large Company Index (Net)* | 25.59% |
MSCI EAFE® Index (Net)* | 22.46% |
ETF Category: Morningstar Foreign Large Value2 | 17.86% |
Performance Details | pages 17-19 |
Schwab Fundamental International Small Company Index ETF (Ticker Symbol: FNDC) | |
Market Price Return1 | 29.54% |
NAV Return1 | 28.97% |
Russell RAFITM Developed ex US Small Company Index (Net)* | 29.22% |
S&P Developed ex-U.S. Small Cap Index (Net)* | 33.68% |
ETF Category: Morningstar Foreign Small/Mid Blend2 | 29.18% |
Performance Details | pages 20-22 |
Schwab Fundamental Emerging Markets Large Company Index ETF (Ticker Symbol: FNDE) | |
Market Price Return1 | 18.38% |
NAV Return1 | 19.12% |
Russell RAFITM Emerging Markets Large Company Index (Net)* | 20.02% |
MSCI Emerging Markets Index (Net)* | 36.05% |
ETF Category: Morningstar Diversified Emerging Markets2 | 34.85% |
Performance Details | pages 23-25 |
* | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
1 | ETF performance must be shown based on both a market price and NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (Market Price) is determined using the Official Closing Price on the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs within the category as of the report date. |
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409imgba7128462.jpg)
President of Charles Schwab
Investment Management, Inc.
and the funds covered
in this report.
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409img1728ab723.jpg)
* | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409img5c0d158d4.jpg)
* | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
![]() | Christopher Bliss, CFA, Vice President and Head of Passive Equity Strategies, leads the portfolio management team for Schwab’s passive equity mutual funds and ETFs. He also has overall responsibility for all aspects of the management of the funds. Before joining CSIM in 2016, Mr. Bliss spent 12 years at BlackRock (formerly Barclays Global Investors) managing and leading institutional index teams, most recently as a managing director and the head of the Americas institutional index team. Prior to BlackRock, he worked as an equity analyst and portfolio manager for Harris Bretall and before that, as a research analyst for JP Morgan. |
![]() | Jeremy Brown, Portfolio Manager, is responsible for the day-to-day co-management of the Schwab Fundamental U.S. Broad Market Index ETF, Schwab Fundamental U.S. Large Company Index ETF, and Schwab Fundamental U.S. Small Company Index ETF. Prior to joining CSIM in 2017, Mr. Brown spent six years with ALPS Advisors, Inc. in Denver, most recently as a senior analyst on the ETF portfolio management and research team where he performed portfolio management, trading, and analytics/research functions for ALPS ETFs and passive funds. Additionally, Mr. Brown led a number of investment research, commentary, industry trend analysis, and sales and marketing support initiatives. |
![]() | Chuck Craig, CFA, Senior Portfolio Manager, is responsible for the day-to-day co-management of the Schwab Fundamental International Large Company Index ETF, Schwab Fundamental International Small Company Index ETF, and Schwab Fundamental Emerging Markets Large Company Index ETF. Prior to joining CSIM in 2012, Mr. Craig worked at Guggenheim Funds (formerly Claymore Group), where he spent more than five years as a managing director of portfolio management and supervision, and three years as vice president of product research and development. Prior to that, he worked as an equity research analyst at First Trust Portfolios (formerly Niké Securities), and a trader and analyst at PMA Securities, Inc. |
![]() | Ferian Juwono, CFA, Senior Portfolio Manager, is responsible for the day-to-day co-management of the Schwab Fundamental U.S. Broad Market Index ETF, Schwab Fundamental U.S. Large Company Index ETF, and Schwab Fundamental U.S. Small Company Index ETF. Prior to joining CSIM in 2010, Mr. Juwono worked at BlackRock (formerly Barclays Global Investors) where he spent more than three years as a portfolio manager, managing equity index funds for institutional clients, and two years as a senior business analyst. Prior to that, Mr. Juwono worked for more than four years as a senior financial analyst with Union Bank of California. |
![]() | Jane Qin, Portfolio Manager, is responsible for the day-to-day co-management of the Schwab Fundamental International Large Company Index ETF, Schwab Fundamental International Small Company Index ETF, and Schwab Fundamental Emerging Markets Large Company Index ETF. Prior to joining CSIM in 2012, Ms. Qin spent more than four years at The Bank of New York Mellon Corporation. During that time, Ms. Qin spent more than two years as an associate equity portfolio manager and nearly two years as a performance analyst. She also worked at Wells Fargo Funds Management as a mutual fund analyst and at CIGNA Reinsurance in the risk management group as a risk analyst. |
![]() | David Rios, Portfolio Manager, is responsible for the day-to-day co-management of the Schwab Fundamental International Large Company Index ETF, Schwab Fundamental International Small Company Index ETF, and Schwab Fundamental Emerging Markets Large Company Index ETF. Prior to this role, Mr. Rios was an associate portfolio manager on the Schwab equity index strategies team for four years. His first role with CSIM was as a trade operations specialist. Prior to joining CSIM in 2008, Mr. Rios was a senior fund accountant at Investors Bank & Trust (subsequently acquired by State Street Corporation). |
![]() | Sabya Sinha, Portfolio Manager, is responsible for the day-to-day co-management of the Schwab Fundamental U.S. Broad Market Index ETF, Schwab Fundamental U.S. Large Company Index ETF, and Schwab Fundamental U.S. Small Company Index ETF. Prior to joining CSIM in 2015, Mr. Sinha spent a year at F-Squared Investments on the product development and analytics team. Prior to F-Squared, he worked at IndexIQ Advisors as a senior index portfolio manager for three years and for Bank of America’s Columbia Management subsidiary as a portfolio manager for three years. Mr. Sinha also spent time as a software consultant at DPM Mellon, LLC and an equity trader at Jane Street Capital. |
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409lg_2mx1.jpg)
Fund and Inception Date | 1 Year | 5 Years | Since Inception* |
Fund: Schwab Fundamental U.S. Broad Market Index ETF (8/15/13) | |||
Market Price Return2 | 32.62% | 14.56% | 11.51% |
NAV Return2 | 33.35% | 14.61% | 11.50% |
Russell RAFITM US Index | 33.61% | 14.86% | 11.79% |
Russell 3000® Index | 35.33% | 17.41% | 13.72% |
ETF Category: Morningstar Large Value3 | 22.52% | 11.52% | N/A |
Fund Expense Ratio4: 0.25% |
* | Inception (8/15/13) represents the date that the shares began trading in the secondary market. |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. |
2 | ETF performance must be shown based on both a market price and NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (Market Price) is determined using the Official Closing Price on the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs within the category as of the report date. |
4 | As stated in the prospectus. |
Number of Holdings | 1,625 |
Weighted Average Market Cap (millions) | $232,667 |
Price/Earnings Ratio (P/E) | 21.9 |
Price/Book Ratio (P/B) | 2.3 |
Portfolio Turnover Rate | 14% 2 |
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409img5d0168d312.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409img986d69ba13.jpg)
1 | Excludes derivatives. |
2 | Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions. |
3 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
4 | This list is not a recommendation of any security by the investment adviser. |
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409lg_2mx2.jpg)
Fund and Inception Date | 1 Year | 5 Years | Since Inception* |
Fund: Schwab Fundamental U.S. Large Company Index ETF (8/15/13) | |||
Market Price Return2 | 32.06% | 14.56% | 11.53% |
NAV Return2 | 32.40% | 14.56% | 11.53% |
Russell RAFITM US Large Company Index | 32.68% | 14.81% | 11.83% |
Russell 1000® Index | 34.28% | 17.37% | 13.89% |
ETF Category: Morningstar Large Value3 | 22.52% | 11.52% | N/A |
Fund Expense Ratio4: 0.25% |
* | Inception (8/15/13) represents the date that the shares began trading in the secondary market. |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. |
2 | ETF performance must be shown based on both a market price and NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (Market Price) is determined using the Official Closing Price on the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs within the category as of the report date. |
4 | As stated in the prospectus. |
Number of Holdings | 705 |
Weighted Average Market Cap (millions) | $254,839 |
Price/Earnings Ratio (P/E) | 22.0 |
Price/Book Ratio (P/B) | 2.4 |
Portfolio Turnover Rate | 13% 2 |
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409img601928b914.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409img9406840715.jpg)
1 | Excludes derivatives. |
2 | Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions. |
3 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
4 | This list is not a recommendation of any security by the investment adviser. |
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409lg_2mx6.jpg)
Fund and Inception Date | 1 Year | 5 Years | Since Inception* |
Fund: Schwab Fundamental U.S. Small Company Index ETF (8/15/13) | |||
Market Price Return2 | 42.80% | 14.67% | 10.79% |
NAV Return2 | 42.73% | 14.64% | 10.78% |
Russell RAFITM US Small Company Index | 42.76% | 14.84% | 11.02% |
Russell 2000® Index | 51.00% | 17.92% | 11.85% |
ETF Category: Morningstar Small Blend3 | 41.65% | 14.46% | N/A |
Fund Expense Ratio4: 0.25% |
* | Inception (8/15/13) represents the date that the shares began trading in the secondary market. |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. |
2 | ETF performance must be shown based on both a market price and NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (Market Price) is determined using the Official Closing Price on the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs within the category as of the report date. |
4 | As stated in the prospectus. |
Number of Holdings | 921 |
Weighted Average Market Cap (millions) | $7,811 |
Price/Earnings Ratio (P/E) | 20.9 |
Price/Book Ratio (P/B) | 1.9 |
Portfolio Turnover Rate | 24% 2 |
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409img8d0a36b716.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409img26e860f617.jpg)
1 | Excludes derivatives. |
2 | Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions. |
3 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
4 | This list is not a recommendation of any security by the investment adviser. |
1 | The total return cited for the index is calculated net of foreign withholding taxes. |
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409lg_2mx7.jpg)
Fund and Inception Date | 1 Year | 5 Years | Since Inception* |
Fund: Schwab Fundamental International Large Company Index ETF (8/15/13) | |||
Market Price Return2 | 25.49% | 10.05% | 5.27% |
NAV Return2 | 25.47% | 9.93% | 5.26% |
Russell RAFITM Developed ex US Large Company Index (Net)3 | 25.59% | 9.98% | 5.38% |
MSCI EAFE® Index (Net)3 | 22.46% | 9.73% | 5.37% |
ETF Category: Morningstar Foreign Large Value4 | 17.86% | 7.68% | N/A |
Fund Expense Ratio5: 0.25% |
* | Inception (8/15/13) represents the date that the shares began trading in the secondary market. |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. |
2 | ETF performance must be shown based on both a market price and NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (Market Price) is determined using the Official Closing Price on the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively. |
3 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
4 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs within the category as of the report date. |
5 | As stated in the prospectus. |
Number of Holdings | 927 |
Weighted Average Market Cap (millions) | $66,156 |
Price/Earnings Ratio (P/E) | 16.8 |
Price/Book Ratio (P/B) | 1.1 |
Portfolio Turnover Rate | 15% 2 |
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409img09ad72f818.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409imgc78c9bf719.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409imgf9323e2a20.jpg)
1 | Excludes derivatives. |
2 | Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions. |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
1 | The total return cited for the index is calculated net of foreign withholding taxes. |
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409lg_2mx8.jpg)
Fund and Inception Date | 1 Year | 5 Years | Since Inception* |
Fund: Schwab Fundamental International Small Company Index ETF (8/15/13) | |||
Market Price Return2 | 29.54% | 10.36% | 6.96% |
NAV Return2 | 28.97% | 10.22% | 6.96% |
Russell RAFITM Developed ex US Small Company Index (Net)3 | 29.22% | 10.44% | 7.33% |
S&P Developed ex-U.S. Small Cap Index (Net)3 | 33.68% | 11.61% | 8.04% |
ETF Category: Morningstar Foreign Small/Mid Blend4 | 29.18% | 10.22% | N/A |
Fund Expense Ratio5: 0.39% |
* | Inception (8/15/13) represents the date that the shares began trading in the secondary market. |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. |
2 | ETF performance must be shown based on both a market price and NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (Market Price) is determined using the Official Closing Price on the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively. |
3 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
4 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs within the category as of the report date. |
5 | As stated in the prospectus. |
Number of Holdings | 1,591 |
Weighted Average Market Cap (millions) | $4,071 |
Price/Earnings Ratio (P/E) | 15.8 |
Price/Book Ratio (P/B) | 1.1 |
Portfolio Turnover Rate | 24% 2 |
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409imgc17fe36721.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409img6c048ce122.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409imga8a5501823.jpg)
1 | Excludes derivatives. |
2 | Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions. |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
1 | The total return cited for the index is calculated net of foreign withholding taxes. |
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409lg_2mx9.jpg)
Fund and Inception Date | 1 Year | 5 Years | Since Inception* |
Fund: Schwab Fundamental Emerging Markets Large Company Index ETF (8/15/13) | |||
Market Price Return2 | 18.38% | 13.55% | 4.48% |
NAV Return2 | 19.12% | 13.65% | 4.52% |
Russell RAFITM Emerging Markets Large Company Index (Net)3 | 20.02% | 14.32% | 5.15% |
MSCI Emerging Markets Index (Net)3 | 36.05% | 15.24% | 6.83% |
ETF Category: Morningstar Diversified Emerging Markets4 | 34.85% | 14.19% | N/A |
Fund Expense Ratio5: 0.39% |
* | Inception (8/15/13) represents the date that the shares began trading in the secondary market. |
1 | Performance does not reflect the deduction of taxes that a shareholder would pay on fund distributions or on the redemption or sale of fund shares. |
2 | ETF performance must be shown based on both a market price and NAV basis. The fund’s per share NAV is the value of one share of the fund. NAV is calculated by taking the fund’s total assets (including the market value of securities owned), subtracting liabilities, and dividing by the number of shares outstanding. The NAV Return is based on the NAV of the fund, and the Market Price Return is based on the market price per share of the fund. The price used to calculate market return (Market Price) is determined using the Official Closing Price on the primary stock exchange (generally, 4:00 p.m. Eastern time) and may not represent the returns you would receive if shares were traded at other times. NAV is used as a proxy for purposes of calculating Market Price Return on inception date. Market Price and NAV returns assume that dividends and capital gain distributions have been reinvested in the fund at Market Price and NAV, respectively. |
3 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
4 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all passively- and actively-managed ETFs within the category as of the report date. |
5 | As stated in the prospectus. |
Number of Holdings | 313 |
Weighted Average Market Cap (millions) | $91,926 |
Price/Earnings Ratio (P/E) | 8.9 |
Price/Book Ratio (P/B) | 0.9 |
Portfolio Turnover Rate | 25% 2 |
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409img35a96fc824.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409imgcc6c8ab525.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-21-147964/g892409imgf20500e426.jpg)
1 | Excludes derivatives. |
2 | Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions. |
3 | This list is not a recommendation of any security by the investment adviser. |
4 | The percentage may differ from the Portfolio Holdings because the above calculation is based on a percentage of total investments, excluding derivatives, whereas the calculation in the Portfolio Holdings is based on a percentage of net assets. |
Expense Ratio (Annualized)1 | Beginning Account Value at 9/1/20 | Ending Account Value (Net of Expenses) at 2/28/21 | Expenses Paid During Period 9/1/20-2/28/212 | |
Schwab Fundamental U.S. Broad Market Index ETF | ||||
Actual Return | 0.25% | $1,000.00 | $1,225.60 | $1.38 |
Hypothetical 5% Return | 0.25% | $1,000.00 | $1,023.56 | $1.25 |
Schwab Fundamental U.S. Large Company Index ETF | ||||
Actual Return | 0.25% | $1,000.00 | $1,209.60 | $1.37 |
Hypothetical 5% Return | 0.25% | $1,000.00 | $1,023.56 | $1.25 |
Schwab Fundamental U.S. Small Company Index ETF | ||||
Actual Return | 0.25% | $1,000.00 | $1,413.70 | $1.50 |
Hypothetical 5% Return | 0.25% | $1,000.00 | $1,023.56 | $1.25 |
Schwab Fundamental International Large Company Index ETF | ||||
Actual Return | 0.25% | $1,000.00 | $1,234.60 | $1.39 |
Hypothetical 5% Return | 0.25% | $1,000.00 | $1,023.56 | $1.25 |
Schwab Fundamental International Small Company Index ETF | ||||
Actual Return | 0.39% | $1,000.00 | $1,211.40 | $2.14 |
Hypothetical 5% Return | 0.39% | $1,000.00 | $1,022.87 | $1.96 |
Schwab Fundamental Emerging Markets Large Company Index ETF | ||||
Actual Return | 0.39% | $1,000.00 | $1,236.80 | $2.16 |
Hypothetical 5% Return | 0.39% | $1,000.00 | $1,022.87 | $1.96 |
1 | Based on the most recent six-month expense ratio. |
2 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by 181 days of the period, and divided by 365 days of the fiscal year. |
3/1/20– 2/28/21 | 3/1/19– 2/29/20 | 3/1/18– 2/28/19 | 3/1/17– 2/28/18 | 3/1/16– 2/28/17 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $37.17 | $37.60 | $36.95 | $33.82 | $27.37 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.92 | 0.94 | 0.84 | 0.75 | 0.67 | |
Net realized and unrealized gains (losses) | 11.13 | (0.43) | 0.62 | 3.09 | 6.45 | |
Total from investment operations | 12.05 | 0.51 | 1.46 | 3.84 | 7.12 | |
Less distributions: | ||||||
Distributions from net investment income | (0.96) | (0.94) | (0.81) | (0.71) | (0.67) | |
Net asset value at end of period | $48.26 | $37.17 | $37.60 | $36.95 | $33.82 | |
Total return | 33.35% | 1.25% | 3.98% | 11.51% | 26.32% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.25% | 0.25% | 0.25% | 0.25% | 0.32% | |
Net investment income (loss) | 2.36% | 2.38% | 2.26% | 2.14% | 2.17% | |
Portfolio turnover rate2 | 14% | 13% | 11% | 10% | 10% | |
Net assets, end of period (x 1,000) | $284,726 | $262,018 | $276,382 | $260,469 | $263,785 | |
Security | Number of Shares | Value ($) |
Common Stock 99.7% of net assets | ||
Automobiles & Components 2.3% | ||
Adient plc * | 4,957 | 183,806 |
American Axle & Manufacturing Holdings, Inc. * | 5,917 | 57,809 |
Aptiv plc * | 2,494 | 373,701 |
Autoliv, Inc. * | 1,402 | 126,180 |
BorgWarner, Inc. | 5,142 | 231,390 |
Cooper Tire & Rubber Co. | 1,616 | 92,500 |
Cooper-Standard Holding, Inc. * | 2,004 | 71,783 |
Dana, Inc. | 3,736 | 88,954 |
Dorman Products, Inc. * | 251 | 25,027 |
Ford Motor Co. * | 159,651 | 1,867,917 |
Fox Factory Holding Corp. * | 91 | 11,571 |
General Motors Co. | 39,383 | 2,021,529 |
Gentex Corp. | 2,524 | 89,299 |
Gentherm, Inc. * | 382 | 27,042 |
Harley-Davidson, Inc. | 3,080 | 109,864 |
LCI Industries | 280 | 39,463 |
Lear Corp. | 1,691 | 280,858 |
Modine Manufacturing Co. * | 2,122 | 29,432 |
Patrick Industries, Inc. | 228 | 17,996 |
Standard Motor Products, Inc. | 359 | 15,082 |
Stoneridge, Inc. * | 346 | 10,608 |
Tenneco, Inc., Class A * | 4,736 | 52,759 |
Tesla, Inc. * | 125 | 84,437 |
The Goodyear Tire & Rubber Co. * | 21,463 | 360,793 |
Thor Industries, Inc. | 941 | 110,153 |
Veoneer, Inc. * | 1,748 | 48,035 |
Visteon Corp. * | 1,252 | 159,217 |
Winnebago Industries, Inc. | 271 | 18,862 |
6,606,067 | ||
Banks 7.1% | ||
Associated Banc-Corp. | 1,749 | 35,242 |
Atlantic Union Bankshares Corp. | 399 | 14,655 |
Axos Financial, Inc. * | 322 | 14,899 |
BancorpSouth Bank | 857 | 25,761 |
Bank of America Corp. | 72,558 | 2,518,488 |
Bank of Hawaii Corp. | 337 | 29,488 |
Bank OZK | 979 | 40,354 |
BankUnited, Inc. | 1,351 | 54,297 |
Banner Corp. | 295 | 15,275 |
Berkshire Hills Bancorp, Inc. | 532 | 10,725 |
BOK Financial Corp. | 273 | 23,494 |
Boston Private Financial Holdings, Inc. | 1,261 | 17,351 |
Brookline Bancorp, Inc. | 670 | 9,534 |
Cadence BanCorp | 751 | 15,411 |
Capitol Federal Financial, Inc. | 1,165 | 15,506 |
Cathay General Bancorp | 663 | 24,955 |
Central Pacific Financial Corp. | 445 | 10,070 |
CIT Group, Inc. | 4,155 | 188,429 |
Citigroup, Inc. | 41,911 | 2,761,097 |
Citizens Financial Group, Inc. | 6,918 | 300,518 |
Columbia Banking System, Inc. | 557 | 24,670 |
Security | Number of Shares | Value ($) |
Comerica, Inc. | 2,397 | 163,236 |
Commerce Bancshares, Inc. | 481 | 35,608 |
Community Bank System, Inc. | 223 | 15,875 |
Credicorp Ltd. | 598 | 95,686 |
Cullen/Frost Bankers, Inc. | 387 | 40,403 |
CVB Financial Corp. | 595 | 12,739 |
Eagle Bancorp, Inc. | 210 | 10,267 |
East West Bancorp, Inc. | 1,099 | 79,304 |
Essent Group Ltd. | 418 | 17,234 |
F.N.B. Corp. | 3,498 | 41,381 |
Federal Agricultural Mortgage Corp., Class C | 106 | 9,143 |
Fifth Third Bancorp | 11,929 | 413,817 |
First BanCorp | 1,747 | 18,326 |
First Citizens BancShares, Inc., Class A | 44 | 32,467 |
First Commonwealth Financial Corp. | 856 | 11,479 |
First Financial Bancorp | 686 | 15,387 |
First Financial Bankshares, Inc. | 350 | 15,631 |
First Hawaiian, Inc. | 1,279 | 35,671 |
First Horizon Corp. | 4,685 | 75,897 |
First Interstate BancSystem, Inc., Class A | 221 | 10,038 |
First Merchants Corp. | 281 | 11,816 |
First Midwest Bancorp, Inc. | 850 | 16,813 |
First Republic Bank | 475 | 78,256 |
Flagstar Bancorp, Inc. | 298 | 12,930 |
Fulton Financial Corp. | 1,980 | 30,591 |
Glacier Bancorp, Inc. | 403 | 21,843 |
Great Western Bancorp, Inc. | 862 | 23,127 |
Hancock Whitney Corp. | 982 | 37,071 |
Heartland Financial USA, Inc. | 212 | 9,909 |
Hilltop Holdings, Inc. | 573 | 18,932 |
Home BancShares, Inc. | 1,062 | 25,955 |
Hope Bancorp, Inc. | 1,495 | 19,674 |
Huntington Bancshares, Inc. | 10,138 | 155,517 |
Independent Bank Corp. | 127 | 10,860 |
International Bancshares Corp. | 453 | 19,742 |
Investors Bancorp, Inc. | 2,042 | 27,240 |
JPMorgan Chase & Co. | 30,553 | 4,496,485 |
KeyCorp | 10,185 | 205,126 |
M&T Bank Corp. | 1,723 | 260,070 |
MGIC Investment Corp. | 3,750 | 45,675 |
National Bank Holdings Corp., Class A | 253 | 9,804 |
NBT Bancorp, Inc. | 322 | 11,666 |
New York Community Bancorp, Inc. | 5,961 | 72,784 |
Northwest Bancshares, Inc. | 1,039 | 14,671 |
OFG Bancorp | 708 | 13,671 |
Old National Bancorp | 1,202 | 21,792 |
PacWest Bancorp | 2,041 | 73,966 |
Park National Corp. | 102 | 12,648 |
People's United Financial, Inc. | 3,600 | 64,584 |
Pinnacle Financial Partners, Inc. | 319 | 25,893 |
Popular, Inc. | 906 | 60,539 |
Prosperity Bancshares, Inc. | 438 | 32,180 |
Provident Financial Services, Inc. | 635 | 12,846 |
Radian Group, Inc. | 2,094 | 42,718 |
Regions Financial Corp. | 11,720 | 241,784 |
Renasant Corp. | 353 | 13,866 |
S&T Bancorp, Inc. | 315 | 9,097 |
Sandy Spring Bancorp, Inc. | 268 | 10,071 |
Security | Number of Shares | Value ($) |
Signature Bank | 290 | 63,319 |
Simmons First National Corp., Class A | 555 | 16,250 |
South State Corp. | 236 | 18,611 |
Sterling Bancorp | 1,162 | 25,366 |
SVB Financial Group * | 178 | 89,954 |
Synovus Financial Corp. | 1,694 | 71,673 |
TCF Financial Corp. | 497 | 22,276 |
Texas Capital Bancshares, Inc. * | 417 | 31,775 |
The Bank of NT Butterfield & Son Ltd. | 482 | 17,588 |
The PNC Financial Services Group, Inc. | 4,815 | 810,653 |
Towne Bank | 428 | 12,344 |
Truist Financial Corp. | 8,080 | 460,237 |
Trustmark Corp. | 600 | 18,096 |
U.S. Bancorp | 17,716 | 885,800 |
UMB Financial Corp. | 282 | 23,792 |
Umpqua Holdings Corp. | 2,683 | 45,799 |
United Bankshares, Inc. | 787 | 29,080 |
United Community Banks, Inc. | 500 | 16,530 |
Valley National Bancorp | 2,676 | 32,781 |
Walker & Dunlop, Inc. | 307 | 30,596 |
Washington Federal, Inc. | 1,002 | 30,280 |
Webster Financial Corp. | 850 | 47,014 |
Wells Fargo & Co. | 97,347 | 3,521,041 |
WesBanco, Inc. | 389 | 12,557 |
Westamerica BanCorp | 126 | 7,574 |
Western Alliance Bancorp | 400 | 36,604 |
Wintrust Financial Corp. | 466 | 34,326 |
WSFS Financial Corp. | 227 | 12,063 |
Zions Bancorp NA | 1,619 | 86,082 |
20,082,081 | ||
Capital Goods 8.5% | ||
3M Co. | 6,046 | 1,058,413 |
A.O. Smith Corp. | 1,152 | 68,394 |
AAON, Inc. | 157 | 12,105 |
AAR Corp. | 1,001 | 39,820 |
Acuity Brands, Inc. | 594 | 73,240 |
Advanced Drainage Systems, Inc. | 138 | 15,183 |
AECOM * | 2,500 | 144,725 |
Aegion Corp. * | 853 | 22,050 |
AerCap Holdings N.V. * | 2,960 | 142,613 |
Aerojet Rocketdyne Holdings, Inc. * | 264 | 13,535 |
AGCO Corp. | 1,307 | 169,230 |
Air Lease Corp. | 1,070 | 49,070 |
Alamo Group, Inc. | 111 | 16,942 |
Albany International Corp., Class A | 231 | 18,261 |
Allegion plc | 345 | 37,529 |
Allison Transmission Holdings, Inc. | 1,929 | 73,148 |
Altra Industrial Motion Corp. | 351 | 20,330 |
American Woodmark Corp. * | 172 | 16,066 |
AMETEK, Inc. | 1,112 | 131,183 |
Apogee Enterprises, Inc. | 743 | 27,788 |
Applied Industrial Technologies, Inc. | 534 | 45,588 |
Arcosa, Inc. | 767 | 43,512 |
Argan, Inc. | 253 | 12,655 |
Armstrong World Industries, Inc. | 285 | 24,390 |
Astec Industries, Inc. | 354 | 24,044 |
Astronics Corp. * | 619 | 9,780 |
Atkore, Inc. * | 491 | 33,216 |
AZZ, Inc. | 399 | 20,385 |
Barnes Group, Inc. | 603 | 31,567 |
Beacon Roofing Supply, Inc. * | 1,192 | 57,013 |
Boise Cascade Co. | 973 | 48,592 |
Builders FirstSource, Inc. * | 2,196 | 95,010 |
BWX Technologies, Inc. | 506 | 29,353 |
CAI International, Inc. | 320 | 14,080 |
Carlisle Cos., Inc. | 549 | 79,742 |
Security | Number of Shares | Value ($) |
Carrier Global Corp. | 5,592 | 204,276 |
Caterpillar, Inc. | 5,304 | 1,145,027 |
Chart Industries, Inc. * | 181 | 25,899 |
CIRCOR International, Inc. * | 316 | 11,253 |
Colfax Corp. * | 1,165 | 51,668 |
Columbus McKinnon Corp. | 238 | 11,981 |
Comfort Systems USA, Inc. | 453 | 28,059 |
Crane Co. | 576 | 48,303 |
Cubic Corp. | 310 | 21,529 |
Cummins, Inc. | 1,959 | 496,019 |
Curtiss-Wright Corp. | 415 | 45,853 |
Deere & Co. | 2,670 | 932,150 |
Donaldson Co., Inc. | 1,093 | 64,389 |
Douglas Dynamics, Inc. | 208 | 10,021 |
Dover Corp. | 1,215 | 149,761 |
DXP Enterprises, Inc. * | 467 | 14,029 |
Dycom Industries, Inc. * | 658 | 50,390 |
Eaton Corp. plc | 4,845 | 630,771 |
EMCOR Group, Inc. | 967 | 94,157 |
Emerson Electric Co. | 6,873 | 590,391 |
Encore Wire Corp. | 378 | 24,770 |
Enerpac Tool Group Corp. | 803 | 19,834 |
EnerSys | 559 | 50,466 |
EnPro Industries, Inc. | 283 | 22,736 |
ESCO Technologies, Inc. | 123 | 12,997 |
Fastenal Co. | 3,035 | 140,733 |
Federal Signal Corp. | 444 | 16,166 |
Flowserve Corp. | 1,958 | 72,446 |
Fluor Corp. * | 15,108 | 259,253 |
Fortive Corp. | 1,335 | 87,870 |
Fortune Brands Home & Security, Inc. | 1,349 | 112,156 |
Franklin Electric Co., Inc. | 339 | 25,445 |
GATX Corp. | 688 | 65,656 |
Generac Holdings, Inc. * | 171 | 56,355 |
General Dynamics Corp. | 3,473 | 567,731 |
General Electric Co. | 199,005 | 2,495,523 |
Gibraltar Industries, Inc. * | 228 | 19,916 |
GMS, Inc. * | 722 | 26,425 |
Graco, Inc. | 815 | 56,520 |
Granite Construction, Inc. | 1,608 | 55,283 |
Griffon Corp. | 769 | 18,917 |
H&E Equipment Services, Inc. | 826 | 25,548 |
HEICO Corp. | 84 | 10,565 |
HEICO Corp., Class A | 160 | 18,522 |
Herc Holdings, Inc. * | 464 | 40,721 |
Hexcel Corp. * | 1,186 | 63,759 |
Hillenbrand, Inc. | 876 | 40,699 |
Honeywell International, Inc. | 4,855 | 982,409 |
Howmet Aerospace, Inc. * | 5,623 | 158,063 |
Hubbell, Inc. | 515 | 91,418 |
Huntington Ingalls Industries, Inc. | 582 | 102,380 |
Hyster-Yale Materials Handling, Inc. | 294 | 25,152 |
IDEX Corp. | 367 | 71,627 |
Illinois Tool Works, Inc. | 2,501 | 505,652 |
Ingersoll Rand, Inc. * | 483 | 22,382 |
Insteel Industries, Inc. | 411 | 12,692 |
ITT, Inc. | 710 | 58,916 |
JELD-WEN Holding, Inc. * | 1,079 | 31,992 |
John Bean Technologies Corp. | 152 | 22,431 |
Johnson Controls International plc | 8,860 | 494,299 |
Kadant, Inc. | 71 | 12,354 |
Kaman Corp. | 437 | 21,264 |
Kennametal, Inc. | 930 | 34,745 |
L3Harris Technologies, Inc. | 627 | 114,058 |
Lennox International, Inc. | 189 | 52,877 |
Lincoln Electric Holdings, Inc. | 638 | 75,354 |
Lindsay Corp. | 117 | 18,749 |
Lockheed Martin Corp. | 1,473 | 486,458 |
Security | Number of Shares | Value ($) |
Lydall, Inc. * | 475 | 16,544 |
Masco Corp. | 1,850 | 98,457 |
Masonite International Corp. * | 317 | 34,781 |
MasTec, Inc. * | 891 | 77,294 |
Matrix Service Co. * | 1,319 | 17,899 |
Maxar Technologies, Inc. | 691 | 33,064 |
McGrath RentCorp | 213 | 16,542 |
Meritor, Inc. * | 920 | 27,940 |
Moog, Inc., Class A | 587 | 45,586 |
MRC Global, Inc. * | 3,817 | 33,361 |
MSC Industrial Direct Co., Inc., Class A | 725 | 62,444 |
Mueller Industries, Inc. | 1,056 | 42,916 |
Mueller Water Products, Inc., Class A | 1,463 | 18,858 |
MYR Group, Inc. * | 422 | 24,877 |
National Presto Industries, Inc. | 90 | 9,210 |
Navistar International Corp. * | 324 | 14,275 |
Nordson Corp. | 262 | 50,411 |
Northrop Grumman Corp. | 1,296 | 377,991 |
NOW, Inc. * | 4,566 | 48,537 |
nVent Electric plc | 2,007 | 52,704 |
Oshkosh Corp. | 1,087 | 115,222 |
Otis Worldwide Corp. | 3,215 | 204,828 |
Owens Corning | 1,696 | 137,410 |
PACCAR, Inc. | 3,961 | 360,411 |
Parker-Hannifin Corp. | 1,073 | 307,908 |
Pentair plc | 1,584 | 88,593 |
Primoris Services Corp. | 1,080 | 36,148 |
Proto Labs, Inc. * | 69 | 10,052 |
Quanex Building Products Corp. | 738 | 17,956 |
Quanta Services, Inc. | 2,409 | 201,995 |
Raven Industries, Inc. | 369 | 14,465 |
Raytheon Technologies Corp. | 16,984 | 1,222,678 |
RBC Bearings, Inc. * | 97 | 19,309 |
Regal Beloit Corp. | 584 | 79,815 |
Resideo Technologies, Inc. * | 4,450 | 106,889 |
REV Group, Inc. | 993 | 12,333 |
Rexnord Corp. | 721 | 32,409 |
Rockwell Automation, Inc. | 770 | 187,326 |
Roper Technologies, Inc. | 269 | 101,580 |
Rush Enterprises, Inc., Class A | 1,242 | 52,698 |
Sensata Technologies Holding plc * | 1,296 | 74,248 |
Simpson Manufacturing Co., Inc. | 274 | 26,704 |
SiteOne Landscape Supply, Inc. * | 100 | 15,851 |
Snap-on, Inc. | 647 | 131,412 |
Spirit AeroSystems Holdings, Inc., Class A | 3,840 | 164,467 |
SPX FLOW, Inc. * | 454 | 27,948 |
Standex International Corp. | 177 | 17,357 |
Stanley Black & Decker, Inc. | 1,226 | 214,354 |
Teledyne Technologies, Inc. * | 121 | 44,891 |
Tennant Co. | 144 | 10,973 |
Terex Corp. | 1,807 | 74,412 |
Textron, Inc. | 4,453 | 224,164 |
The Boeing Co. * | 6,368 | 1,350,080 |
The Greenbrier Cos., Inc. | 1,433 | 67,423 |
The Manitowoc Co., Inc. * | 744 | 12,120 |
The Middleby Corp. * | 404 | 59,150 |
The Timken Co. | 887 | 69,496 |
The Toro Co. | 624 | 62,880 |
Titan Machinery, Inc. * | 749 | 18,350 |
Trane Technologies plc | 2,116 | 324,256 |
TransDigm Group, Inc. * | 248 | 143,014 |
Trex Co., Inc. * | 224 | 20,527 |
TriMas Corp. * | 413 | 13,873 |
Trinity Industries, Inc. | 2,339 | 75,082 |
Triton International Ltd. | 692 | 39,984 |
Tutor Perini Corp. * | 2,867 | 42,145 |
UFP Industries, Inc. | 868 | 52,948 |
United Rentals, Inc. * | 1,185 | 352,395 |
Security | Number of Shares | Value ($) |
Univar Solutions, Inc. * | 2,897 | 57,679 |
Valmont Industries, Inc. | 364 | 86,097 |
Vectrus, Inc. * | 177 | 9,664 |
W.W. Grainger, Inc. | 470 | 175,174 |
Wabash National Corp. | 2,024 | 33,558 |
Watsco, Inc. | 306 | 74,389 |
Watts Water Technologies, Inc., Class A | 197 | 22,476 |
Welbilt, Inc. * | 1,450 | 23,171 |
WESCO International, Inc. * | 2,418 | 194,117 |
Westinghouse Air Brake Technologies Corp. | 805 | 58,306 |
Woodward, Inc. | 387 | 44,203 |
Xylem, Inc. | 905 | 90,102 |
24,159,918 | ||
Commercial & Professional Services 1.2% | ||
ABM Industries, Inc. | 1,242 | 53,630 |
ACCO Brands Corp. | 2,609 | 21,133 |
ADT, Inc. | 1,376 | 10,471 |
ASGN, Inc. * | 481 | 44,719 |
Booz Allen Hamilton Holding Corp. | 726 | 56,004 |
Brady Corp., Class A | 414 | 21,698 |
CACI International, Inc., Class A * | 187 | 41,391 |
CBIZ, Inc. * | 429 | 12,934 |
Cimpress plc * | 118 | 11,691 |
Cintas Corp. | 379 | 122,925 |
Clean Harbors, Inc. * | 547 | 46,577 |
Copart, Inc. * | 395 | 43,118 |
CoreCivic, Inc. | 4,732 | 33,976 |
CoreLogic, Inc. | 584 | 49,441 |
CoStar Group, Inc. * | 29 | 23,889 |
Covanta Holding Corp. | 2,288 | 32,146 |
Deluxe Corp. | 1,519 | 60,046 |
Equifax, Inc. | 514 | 83,206 |
Exponent, Inc. | 129 | 12,445 |
FTI Consulting, Inc. * | 261 | 29,898 |
Harsco Corp. * | 1,326 | 21,693 |
Healthcare Services Group, Inc. | 1,089 | 30,982 |
Herman Miller, Inc. | 1,105 | 42,382 |
HNI Corp. | 892 | 31,746 |
Huron Consulting Group, Inc. * | 207 | 10,536 |
IAA, Inc. * | 473 | 27,732 |
ICF International, Inc. | 213 | 17,775 |
IHS Markit Ltd. | 1,059 | 95,479 |
Insperity, Inc. | 223 | 19,780 |
Interface, Inc. | 1,545 | 19,189 |
Jacobs Engineering Group, Inc. | 1,400 | 161,112 |
KAR Auction Services, Inc. | 1,456 | 20,253 |
KBR, Inc. | 1,573 | 48,763 |
Kelly Services, Inc., Class A * | 2,330 | 48,511 |
Kforce, Inc. | 436 | 22,389 |
Knoll, Inc. | 1,069 | 17,435 |
Korn Ferry | 707 | 43,516 |
Leidos Holdings, Inc. | 1,152 | 101,894 |
ManpowerGroup, Inc. | 2,262 | 213,623 |
ManTech International Corp., Class A | 260 | 20,322 |
Matthews International Corp., Class A | 661 | 23,598 |
MSA Safety, Inc. | 129 | 20,768 |
Nielsen Holdings plc | 8,989 | 201,443 |
Pitney Bowes, Inc. | 12,005 | 101,802 |
Quad/Graphics, Inc. * | 5,034 | 22,049 |
R.R. Donnelley & Sons Co. * | 14,336 | 48,742 |
Republic Services, Inc. | 1,512 | 134,704 |
Resources Connection, Inc. | 1,007 | 12,849 |
Robert Half International, Inc. | 1,832 | 142,511 |
Rollins, Inc. | 559 | 18,542 |
Science Applications International Corp. | 527 | 45,391 |
SP Plus Corp. * | 566 | 18,763 |
Security | Number of Shares | Value ($) |
Steelcase, Inc., Class A | 2,283 | 31,825 |
Stericycle, Inc. * | 621 | 40,284 |
Team, Inc. * | 1,263 | 14,007 |
Tetra Tech, Inc. | 343 | 47,461 |
The Brink's Co. | 348 | 26,737 |
TransUnion | 395 | 33,263 |
TriNet Group, Inc. * | 150 | 12,041 |
TrueBlue, Inc. * | 1,667 | 34,724 |
UniFirst Corp. | 145 | 35,132 |
US Ecology, Inc. * | 197 | 7,527 |
Verisk Analytics, Inc. | 370 | 60,625 |
Viad Corp. | 608 | 25,439 |
Waste Management, Inc. | 3,006 | 333,335 |
3,320,012 | ||
Consumer Durables & Apparel 1.9% | ||
Acushnet Holdings Corp. | 311 | 13,130 |
American Outdoor Brands, Inc. * | 295 | 5,903 |
Beazer Homes USA, Inc. * | 897 | 15,850 |
Brunswick Corp. | 954 | 84,305 |
Callaway Golf Co. | 814 | 22,751 |
Capri Holdings Ltd. * | 6,091 | 284,267 |
Carter's, Inc. | 696 | 58,095 |
Cavco Industries, Inc. * | 53 | 11,178 |
Century Communities, Inc. * | 251 | 13,888 |
Columbia Sportswear Co. | 267 | 27,520 |
Crocs, Inc. * | 273 | 20,945 |
D.R. Horton, Inc. | 2,795 | 214,852 |
Deckers Outdoor Corp. * | 207 | 67,505 |
Ethan Allen Interiors, Inc. | 984 | 25,210 |
Fossil Group, Inc. * | 6,678 | 101,105 |
G-III Apparel Group Ltd. * | 2,046 | 58,904 |
Garmin Ltd. | 845 | 104,797 |
Hanesbrands, Inc. | 6,121 | 108,280 |
Hasbro, Inc. | 1,120 | 104,955 |
Helen of Troy Ltd. * | 180 | 39,024 |
iRobot Corp. * | 218 | 27,056 |
KB Home | 830 | 33,515 |
Kontoor Brands, Inc. | 1,499 | 63,333 |
La-Z-Boy, Inc. | 879 | 37,454 |
Leggett & Platt, Inc. | 1,863 | 80,612 |
Lennar Corp., Class A | 2,028 | 168,263 |
LGI Homes, Inc. * | 108 | 11,799 |
Lululemon Athletica, Inc. * | 218 | 67,946 |
M.D.C Holdings, Inc. | 610 | 34,508 |
M/I Homes, Inc. * | 417 | 20,808 |
Mattel, Inc. * | 5,844 | 118,049 |
Meritage Homes Corp. * | 403 | 33,977 |
Mohawk Industries, Inc. * | 1,181 | 206,663 |
Movado Group, Inc. | 654 | 14,911 |
Newell Brands, Inc. | 5,312 | 123,079 |
NIKE, Inc., Class B | 5,683 | 765,955 |
NVR, Inc. * | 28 | 126,024 |
Oxford Industries, Inc. | 343 | 26,150 |
Polaris, Inc. | 794 | 93,501 |
PulteGroup, Inc. | 3,342 | 150,758 |
PVH Corp. | 2,130 | 212,915 |
Ralph Lauren Corp. | 1,127 | 131,949 |
Skechers U.S.A., Inc., Class A * | 1,503 | 55,010 |
Smith & Wesson Brands, Inc. | 977 | 16,814 |
Steven Madden Ltd. | 1,333 | 49,308 |
Sturm Ruger & Co., Inc. | 256 | 17,459 |
Tapestry, Inc. | 6,170 | 260,004 |
Taylor Morrison Home Corp., Class A * | 2,339 | 64,346 |
Tempur Sealy International, Inc. | 1,161 | 38,789 |
Toll Brothers, Inc. | 1,878 | 100,323 |
TopBuild Corp. * | 175 | 33,322 |
Security | Number of Shares | Value ($) |
Tri Pointe Homes, Inc. * | 2,322 | 44,118 |
Tupperware Brands Corp. * | 4,307 | 131,665 |
Under Armour, Inc., Class A * | 1,997 | 43,714 |
Under Armour, Inc., Class C * | 2,040 | 37,128 |
Universal Electronics, Inc. * | 192 | 11,172 |
VF Corp. | 2,799 | 221,485 |
Vista Outdoor, Inc. * | 1,798 | 56,835 |
Whirlpool Corp. | 1,259 | 239,311 |
Wolverine World Wide, Inc. | 1,330 | 46,484 |
5,398,976 | ||
Consumer Services 2.3% | ||
Adtalem Global Education, Inc. * | 981 | 38,553 |
American Public Education, Inc. * | 289 | 8,508 |
Aramark | 3,822 | 141,873 |
Arcos Dorados Holdings, Inc., Class A | 2,898 | 15,272 |
BJ's Restaurants, Inc. * | 595 | 33,040 |
Bloomin' Brands, Inc. * | 2,211 | 54,921 |
Boyd Gaming Corp. * | 896 | 52,595 |
Bright Horizons Family Solutions, Inc. * | 221 | 35,285 |
Brinker International, Inc. | 1,124 | 77,095 |
Caesars Entertainment, Inc. * | 842 | 78,676 |
Carnival Corp. * | 16,373 | 437,978 |
Chipotle Mexican Grill, Inc. * | 84 | 121,128 |
Choice Hotels International, Inc. | 126 | 13,214 |
Churchill Downs, Inc. | 185 | 42,667 |
Cracker Barrel Old Country Store, Inc. | 364 | 56,373 |
Darden Restaurants, Inc. | 1,269 | 174,272 |
Dave & Buster's Entertainment, Inc. * | 974 | 39,554 |
Denny's Corp. * | 696 | 12,215 |
Dine Brands Global, Inc. | 210 | 16,613 |
Domino's Pizza, Inc. | 196 | 67,916 |
Extended Stay America, Inc. | 4,055 | 65,245 |
Fiesta Restaurant Group, Inc. * | 735 | 11,216 |
frontdoor, Inc. * | 254 | 13,302 |
Graham Holdings Co., Class B | 89 | 53,474 |
Grand Canyon Education, Inc. * | 268 | 28,057 |
H&R Block, Inc. | 3,495 | 67,209 |
Hilton Grand Vacations, Inc. * | 1,032 | 40,774 |
Hilton Worldwide Holdings, Inc. * | 1,237 | 152,992 |
Houghton Mifflin Harcourt Co. * | 7,097 | 43,292 |
Hyatt Hotels Corp., Class A * | 592 | 52,066 |
International Game Technology plc | 3,261 | 59,644 |
Jack in the Box, Inc. | 514 | 52,608 |
Las Vegas Sands Corp. | 3,949 | 247,207 |
Laureate Education, Inc., Class A * | 1,725 | 23,719 |
Marriott International, Inc., Class A * | 1,699 | 251,571 |
Marriott Vacations Worldwide Corp. * | 348 | 59,059 |
McDonald's Corp. | 5,001 | 1,030,906 |
MGM Resorts International | 6,355 | 240,155 |
Norwegian Cruise Line Holdings Ltd. * | 5,239 | 154,865 |
Papa John's International, Inc. | 183 | 16,505 |
Penn National Gaming, Inc. * | 751 | 86,951 |
Perdoceo Education Corp. * | 638 | 8,211 |
Planet Fitness, Inc., Class A * | 128 | 11,020 |
Red Robin Gourmet Burgers, Inc. * | 1,041 | 31,948 |
Red Rock Resorts, Inc., Class A | 878 | 26,489 |
Regis Corp. * | 1,333 | 15,663 |
Royal Caribbean Cruises Ltd. | 2,781 | 259,384 |
Ruth's Hospitality Group, Inc. | 623 | 14,208 |
Scientific Games Corp., Class A * | 787 | 36,855 |
SeaWorld Entertainment, Inc. * | 541 | 26,866 |
Service Corp. International | 1,067 | 50,960 |
Six Flags Entertainment Corp. | 1,949 | 86,925 |
Starbucks Corp. | 6,996 | 755,778 |
Strategic Education, Inc. | 87 | 7,910 |
Stride, Inc. * | 735 | 17,677 |
Security | Number of Shares | Value ($) |
Terminix Global Holdings, Inc. * | 622 | 27,996 |
Texas Roadhouse, Inc. | 561 | 50,984 |
The Cheesecake Factory, Inc. | 1,272 | 69,896 |
The Wendy's Co. | 2,257 | 46,111 |
Travel & Leisure Co. | 1,564 | 94,513 |
Vail Resorts, Inc. | 179 | 55,343 |
WW International, Inc. * | 350 | 10,322 |
Wyndham Hotels & Resorts, Inc. | 516 | 33,684 |
Wynn Resorts Ltd. * | 933 | 122,904 |
Yum China Holdings, Inc. | 2,412 | 144,334 |
Yum! Brands, Inc. | 2,608 | 270,006 |
6,544,552 | ||
Diversified Financials 5.6% | ||
Affiliated Managers Group, Inc. | 891 | 124,713 |
AGNC Investment Corp. | 2,568 | 41,165 |
Ally Financial, Inc. | 11,370 | 471,855 |
American Express Co. | 7,404 | 1,001,465 |
Ameriprise Financial, Inc. | 1,804 | 399,117 |
Annaly Capital Management, Inc. | 9,025 | 74,998 |
Apollo Commercial Real Estate Finance, Inc. | 1,236 | 16,426 |
Artisan Partners Asset Management, Inc., Class A | 474 | 22,515 |
Berkshire Hathaway, Inc., Class B * | 13,371 | 3,215,859 |
BGC Partners, Inc., Class A | 4,091 | 18,328 |
BlackRock, Inc. | 611 | 424,339 |
Blackstone Mortgage Trust, Inc., Class A | 814 | 23,769 |
Brightsphere Investment Group, Inc. | 774 | 14,009 |
Cannae Holdings, Inc. * | 551 | 20,580 |
Capital One Financial Corp. | 10,963 | 1,317,643 |
Capstead Mortgage Corp. | 1,930 | 11,059 |
Cboe Global Markets, Inc. | 414 | 40,969 |
Chimera Investment Corp. | 4,230 | 48,814 |
CME Group, Inc. | 1,019 | 203,494 |
Cohen & Steers, Inc. | 120 | 7,726 |
Compass Diversified Holdings | 948 | 22,420 |
Credit Acceptance Corp. * | 59 | 21,418 |
Discover Financial Services | 7,888 | 742,024 |
Donnelley Financial Solutions, Inc. * | 980 | 25,470 |
Eaton Vance Corp. | 873 | 63,790 |
Encore Capital Group, Inc. * | 276 | 9,224 |
Enova International, Inc. * | 661 | 20,293 |
Equitable Holdings, Inc. | 4,614 | 136,436 |
Evercore, Inc., Class A | 654 | 78,330 |
FactSet Research Systems, Inc. | 97 | 29,479 |
Federated Hermes, Inc. | 1,245 | 33,266 |
FirstCash, Inc. | 357 | 22,605 |
Franklin Resources, Inc. | 9,356 | 244,847 |
Green Dot Corp., Class A * | 253 | 11,957 |
Greenhill & Co., Inc. | 819 | 12,359 |
Houlihan Lokey, Inc. | 207 | 13,157 |
Intercontinental Exchange, Inc. | 1,722 | 189,954 |
Invesco Ltd. | 10,582 | 237,248 |
Invesco Mortgage Capital, Inc. | 4,090 | 15,910 |
Janus Henderson Group plc | 1,851 | 54,105 |
Jefferies Financial Group, Inc. | 3,371 | 97,894 |
Ladder Capital Corp., Class A | 1,579 | 18,064 |
Lazard Ltd., Class A | 1,807 | 69,913 |
LPL Financial Holdings, Inc. | 770 | 101,286 |
MarketAxess Holdings, Inc. | 41 | 22,794 |
MFA Financial, Inc. | 7,879 | 31,674 |
Moelis & Co., Class A | 419 | 21,637 |
Moody's Corp. | 450 | 123,700 |
Morgan Stanley | 12,128 | 932,279 |
Morningstar, Inc. | 76 | 17,043 |
MSCI, Inc. | 155 | 64,251 |
Nasdaq, Inc. | 432 | 59,741 |
Security | Number of Shares | Value ($) |
Navient Corp. | 10,018 | 124,023 |
Nelnet, Inc., Class A | 241 | 17,497 |
New Residential Investment Corp. | 7,398 | 76,051 |
New York Mortgage Trust, Inc. | 3,687 | 15,375 |
Northern Trust Corp. | 1,463 | 139,175 |
OneMain Holdings, Inc. | 1,177 | 55,213 |
PennyMac Mortgage Investment Trust | 984 | 18,666 |
Piper Sandler Cos. | 127 | 13,503 |
PRA Group, Inc. * | 457 | 16,845 |
PROG Holdings, Inc. | 1,108 | 55,400 |
Raymond James Financial, Inc. | 819 | 95,610 |
Redwood Trust, Inc. | 1,736 | 17,082 |
S&P Global, Inc. | 653 | 215,072 |
Santander Consumer USA Holdings, Inc. | 2,583 | 64,575 |
SEI Investments Co. | 980 | 54,880 |
SLM Corp. | 3,380 | 53,370 |
Starwood Property Trust, Inc. | 2,851 | 65,088 |
State Street Corp. | 3,428 | 249,456 |
Stifel Financial Corp. | 600 | 36,648 |
Synchrony Financial | 16,187 | 626,113 |
T. Rowe Price Group, Inc. | 1,938 | 314,227 |
The Bank of New York Mellon Corp. | 11,709 | 493,651 |
The Charles Schwab Corp. (a) | 6,004 | 370,567 |
The Goldman Sachs Group, Inc. | 4,473 | 1,429,034 |
Two Harbors Investment Corp. | 3,273 | 23,631 |
Virtus Investment Partners, Inc. | 63 | 15,807 |
Voya Financial, Inc. | 2,795 | 168,483 |
Waddell & Reed Financial, Inc., Class A | 2,862 | 71,808 |
WisdomTree Investments, Inc. | 2,132 | 11,300 |
World Acceptance Corp. * | 170 | 21,514 |
15,973,075 | ||
Energy 8.4% | ||
Antero Resources Corp. * | 23,382 | 210,438 |
APA Corp. | 9,575 | 188,915 |
Arch Resources, Inc. | 838 | 40,157 |
Archrock, Inc. | 2,142 | 22,084 |
Baker Hughes Co. | 20,028 | 490,285 |
Cabot Oil & Gas Corp. | 2,626 | 48,607 |
Callon Petroleum Co. * | 946 | 24,189 |
Centennial Resource Development, Inc., Class A * | 10,311 | 40,832 |
ChampionX Corp. * | 1,659 | 35,287 |
Cheniere Energy, Inc. * | 582 | 39,221 |
Chevron Corp. | 35,670 | 3,567,000 |
Cimarex Energy Co. | 990 | 57,410 |
CNX Resources Corp. * | 4,251 | 53,605 |
ConocoPhillips | 22,429 | 1,166,532 |
CONSOL Energy, Inc. * | 3,627 | 39,208 |
Continental Resources, Inc. * | 1,301 | 31,458 |
Core Laboratories N.V. | 804 | 28,574 |
Cosan Ltd., A Shares | 1,785 | 32,898 |
CVR Energy, Inc. | 1,040 | 22,963 |
Delek US Holdings, Inc. | 3,279 | 80,532 |
Devon Energy Corp. | 10,765 | 231,878 |
Diamondback Energy, Inc. | 690 | 47,803 |
Dril-Quip, Inc. * | 632 | 21,463 |
EOG Resources, Inc. | 6,206 | 400,659 |
EQT Corp. * | 2,841 | 50,541 |
Equitrans Midstream Corp. | 2,552 | 18,451 |
Exterran Corp. * | 2,697 | 14,753 |
Exxon Mobil Corp. | 116,341 | 6,325,460 |
Forum Energy Technologies, Inc. * | 759 | 16,205 |
Frank's International N.V. * | 3,958 | 17,930 |
GasLog Ltd. | 2,150 | 12,664 |
Green Plains, Inc. * | 2,400 | 60,768 |
Halliburton Co. | 17,812 | 388,836 |
Security | Number of Shares | Value ($) |
Helix Energy Solutions Group, Inc. * | 3,104 | 15,210 |
Helmerich & Payne, Inc. | 4,008 | 115,150 |
Hess Corp. | 3,218 | 210,876 |
HollyFrontier Corp. | 7,284 | 275,918 |
International Seaways, Inc. | 537 | 9,312 |
Kinder Morgan, Inc. | 27,229 | 400,266 |
Kosmos Energy Ltd. | 7,190 | 22,145 |
Liberty Oilfield Services, Inc., Class A | 1,102 | 12,882 |
Magnolia Oil & Gas Corp., Class A * | 1,215 | 14,653 |
Marathon Oil Corp. | 27,865 | 309,302 |
Marathon Petroleum Corp. | 21,277 | 1,162,150 |
Matador Resources Co. * | 831 | 17,360 |
Murphy Oil Corp. | 6,582 | 107,484 |
Nabors Industries Ltd. | 1,337 | 148,420 |
Newpark Resources, Inc. * | 5,120 | 17,715 |
NexTier Oilfield Solutions, Inc. * | 2,888 | 13,429 |
Nordic American Tankers Ltd. | 3,176 | 9,433 |
NOV, Inc. | 18,189 | 274,654 |
Occidental Petroleum Corp. | 30,925 | 822,914 |
Oceaneering International, Inc. * | 7,921 | 93,468 |
Oil States International, Inc. * | 5,321 | 39,003 |
ONEOK, Inc. | 5,216 | 231,017 |
Par Pacific Holdings, Inc. * | 1,111 | 19,631 |
Patterson-UTI Energy, Inc. | 11,800 | 87,320 |
PBF Energy, Inc., Class A * | 12,823 | 182,087 |
PDC Energy, Inc. * | 1,381 | 48,266 |
Peabody Energy Corp. * | 19,700 | 84,710 |
Phillips 66 | 16,702 | 1,387,101 |
Pioneer Natural Resources Co. | 1,474 | 218,992 |
ProPetro Holding Corp. * | 1,709 | 19,602 |
QEP Resources, Inc. | 19,668 | 67,658 |
Range Resources Corp. * | 5,766 | 55,584 |
Renewable Energy Group, Inc. * | 663 | 51,562 |
REX American Resources Corp. * | 138 | 12,982 |
RPC, Inc. * | 3,244 | 20,599 |
Schlumberger N.V. | 36,545 | 1,019,971 |
Scorpio Tankers, Inc. | 855 | 12,620 |
SFL Corp., Ltd. | 1,637 | 12,343 |
SM Energy Co. | 11,912 | 165,100 |
Southwestern Energy Co. * | 4,719 | 19,112 |
Targa Resources Corp. | 5,536 | 171,228 |
Teekay Tankers Ltd., Class A * | 675 | 8,498 |
The Williams Cos., Inc. | 12,387 | 282,919 |
Tidewater, Inc. * | 1,684 | 20,983 |
Transocean Ltd. * | 45,779 | 158,853 |
US Silica Holdings, Inc. | 3,743 | 49,819 |
Valero Energy Corp. | 19,158 | 1,474,783 |
Whiting Petroleum Corp. * | 521 | 17,870 |
World Fuel Services Corp. | 6,879 | 213,799 |
24,034,359 | ||
Food & Staples Retailing 2.5% | ||
BJ's Wholesale Club Holdings, Inc. * | 428 | 17,197 |
Casey's General Stores, Inc. | 465 | 93,911 |
Costco Wholesale Corp. | 3,122 | 1,033,382 |
Ingles Markets, Inc., Class A | 594 | 30,864 |
Performance Food Group Co. * | 2,107 | 114,284 |
PriceSmart, Inc. | 456 | 43,981 |
Rite Aid Corp. * | 7,090 | 138,822 |
SpartanNash Co. | 3,184 | 58,044 |
Sprouts Farmers Market, Inc. * | 2,351 | 49,630 |
Sysco Corp. | 5,125 | 408,104 |
The Andersons, Inc. | 1,633 | 42,687 |
The Chefs' Warehouse, Inc. * | 436 | 13,577 |
The Kroger Co. | 23,036 | 741,990 |
United Natural Foods, Inc. * | 7,590 | 200,755 |
US Foods Holding Corp. * | 6,448 | 235,094 |
Security | Number of Shares | Value ($) |
Walgreens Boots Alliance, Inc. | 27,503 | 1,318,219 |
Walmart, Inc. | 20,381 | 2,647,899 |
Weis Markets, Inc. | 362 | 19,349 |
7,207,789 | ||
Food, Beverage & Tobacco 3.5% | ||
Altria Group, Inc. | 23,232 | 1,012,915 |
Archer-Daniels-Midland Co. | 18,320 | 1,036,546 |
B&G Foods, Inc. | 1,213 | 36,790 |
Brown-Forman Corp., Class B | 966 | 69,146 |
Bunge Ltd. | 7,017 | 537,362 |
Cal-Maine Foods, Inc. * | 551 | 20,993 |
Calavo Growers, Inc. | 197 | 14,824 |
Campbell Soup Co. | 1,415 | 64,354 |
Coca-Cola Consolidated, Inc. | 31 | 7,956 |
Coca-Cola European Partners plc | 2,376 | 121,057 |
Conagra Brands, Inc. | 3,575 | 121,300 |
Constellation Brands, Inc., Class A | 828 | 177,308 |
Darling Ingredients, Inc. * | 1,519 | 95,758 |
Flowers Foods, Inc. | 2,292 | 49,851 |
Fresh Del Monte Produce, Inc. | 1,506 | 38,764 |
General Mills, Inc. | 5,225 | 287,427 |
Hormel Foods Corp. | 2,064 | 95,708 |
Hostess Brands, Inc. * | 715 | 10,289 |
Ingredion, Inc. | 1,338 | 120,688 |
J&J Snack Foods Corp. | 126 | 20,004 |
John B Sanfilippo & Son, Inc. | 123 | 10,635 |
Kellogg Co. | 2,212 | 127,655 |
Keurig Dr Pepper, Inc. | 1,171 | 35,739 |
Lamb Weston Holdings, Inc. | 470 | 37,492 |
Lancaster Colony Corp. | 130 | 22,707 |
McCormick & Co., Inc. Non-Voting Shares | 793 | 66,834 |
Molson Coors Beverage Co., Class B | 3,222 | 143,218 |
Mondelez International, Inc., Class A | 12,316 | 654,719 |
Monster Beverage Corp. * | 1,293 | 113,448 |
Nomad Foods Ltd. * | 1,197 | 28,273 |
PepsiCo, Inc. | 9,085 | 1,173,691 |
Philip Morris International, Inc. | 14,270 | 1,198,965 |
Pilgrim's Pride Corp. * | 1,273 | 28,502 |
Post Holdings, Inc. * | 419 | 40,249 |
Sanderson Farms, Inc. | 439 | 66,947 |
The Boston Beer Co., Inc., Class A * | 28 | 28,804 |
The Coca-Cola Co. | 22,230 | 1,089,048 |
The Hain Celestial Group, Inc. * | 830 | 35,009 |
The Hershey Co. | 861 | 125,405 |
The J.M. Smucker Co. | 1,411 | 158,032 |
The Kraft Heinz Co. | 9,037 | 328,766 |
TreeHouse Foods, Inc. * | 948 | 47,419 |
Tyson Foods, Inc., Class A | 5,669 | 383,621 |
Universal Corp. | 849 | 43,146 |
Vector Group Ltd. | 1,692 | 23,096 |
9,950,460 | ||
Health Care Equipment & Services 5.1% | ||
Abbott Laboratories | 5,953 | 713,050 |
ABIOMED, Inc. * | 53 | 17,201 |
Acadia Healthcare Co., Inc. * | 865 | 47,783 |
Align Technology, Inc. * | 124 | 70,322 |
Allscripts Healthcare Solutions, Inc. * | 1,843 | 28,437 |
Amedisys, Inc. * | 86 | 21,813 |
AmerisourceBergen Corp. | 2,222 | 224,911 |
AMN Healthcare Services, Inc. * | 379 | 27,618 |
Anthem, Inc. | 3,452 | 1,046,612 |
Avanos Medical, Inc. * | 332 | 15,265 |
Baxter International, Inc. | 2,494 | 193,759 |
Becton Dickinson & Co. | 908 | 218,964 |
Security | Number of Shares | Value ($) |
Boston Scientific Corp. * | 3,063 | 118,783 |
Brookdale Senior Living, Inc. * | 7,157 | 41,654 |
Cantel Medical Corp. * | 235 | 17,456 |
Cardinal Health, Inc. | 8,682 | 447,297 |
Centene Corp. * | 4,284 | 250,785 |
Cerner Corp. | 1,972 | 136,344 |
Chemed Corp. | 70 | 31,165 |
Cigna Corp. | 1,829 | 383,907 |
Community Health Systems, Inc. * | 5,375 | 46,010 |
CONMED Corp. | 137 | 16,859 |
Covetrus, Inc. * | 2,372 | 88,144 |
CVS Health Corp. | 25,411 | 1,731,251 |
Danaher Corp. | 1,606 | 352,790 |
DaVita, Inc. * | 1,741 | 177,808 |
DENTSPLY SIRONA, Inc. | 1,654 | 87,778 |
Edwards Lifesciences Corp. * | 884 | 73,460 |
Encompass Health Corp. | 736 | 59,204 |
Globus Medical, Inc., Class A * | 247 | 15,438 |
Haemonetics Corp. * | 163 | 20,619 |
HCA Healthcare, Inc. | 3,218 | 553,593 |
Henry Schein, Inc. * | 1,721 | 106,444 |
Hill-Rom Holdings, Inc. | 344 | 36,694 |
HMS Holdings Corp. * | 378 | 13,905 |
Hologic, Inc. * | 1,119 | 80,669 |
Humana, Inc. | 1,504 | 570,994 |
ICU Medical, Inc. * | 66 | 13,695 |
IDEXX Laboratories, Inc. * | 68 | 35,372 |
Integer Holdings Corp. * | 167 | 14,728 |
Integra LifeSciences Holdings Corp. * | 214 | 14,625 |
Intuitive Surgical, Inc. * | 172 | 126,730 |
Invacare Corp. | 992 | 9,027 |
Laboratory Corp. of America Holdings * | 739 | 177,293 |
LENSAR, Inc. * | 389 | 3,517 |
LHC Group, Inc. * | 81 | 14,719 |
LivaNova plc * | 207 | 16,051 |
Magellan Health, Inc. * | 663 | 61,871 |
Masimo Corp. * | 93 | 23,318 |
McKesson Corp. | 4,345 | 736,564 |
MEDNAX, Inc. * | 3,718 | 90,831 |
Medtronic plc | 9,270 | 1,084,312 |
Merit Medical Systems, Inc. * | 212 | 11,813 |
ModivCare, Inc. * | 162 | 20,778 |
Molina Healthcare, Inc. * | 407 | 88,221 |
National HealthCare Corp. | 197 | 13,701 |
Neogen Corp. * | 120 | 9,830 |
NextGen Healthcare, Inc. * | 672 | 12,566 |
NuVasive, Inc. * | 274 | 16,530 |
Omnicell, Inc. * | 116 | 14,720 |
Owens & Minor, Inc. | 4,267 | 145,121 |
Patterson Cos., Inc. | 2,534 | 78,706 |
Premier, Inc., Class A | 465 | 15,726 |
Quest Diagnostics, Inc. | 1,393 | 161,017 |
ResMed, Inc. | 345 | 66,509 |
Select Medical Holdings Corp. * | 1,296 | 41,018 |
STERIS plc | 331 | 57,859 |
Stryker Corp. | 1,195 | 290,015 |
Teleflex, Inc. | 106 | 42,201 |
Tenet Healthcare Corp. * | 2,969 | 151,478 |
The Cooper Cos., Inc. | 146 | 56,375 |
The Ensign Group, Inc. | 306 | 25,098 |
Tivity Health, Inc. * | 764 | 18,183 |
Triple-S Management Corp., Class B * | 912 | 23,074 |
UnitedHealth Group, Inc. | 6,753 | 2,243,482 |
Universal Health Services, Inc., Class B * | 1,289 | 161,550 |
Varex Imaging Corp. * | 645 | 14,790 |
Varian Medical Systems, Inc. * | 457 | 80,098 |
Veeva Systems, Inc., Class A * | 57 | 15,966 |
Security | Number of Shares | Value ($) |
West Pharmaceutical Services, Inc. | 151 | 42,378 |
Zimmer Biomet Holdings, Inc. | 965 | 157,353 |
14,583,595 | ||
Household & Personal Products 1.2% | ||
Central Garden & Pet Co. * | 101 | 4,606 |
Central Garden & Pet Co., Class A * | 423 | 17,559 |
Church & Dwight Co., Inc. | 1,224 | 96,390 |
Colgate-Palmolive Co. | 4,746 | 356,899 |
Coty, Inc., Class A * | 7,244 | 55,561 |
Edgewell Personal Care Co. | 1,208 | 36,953 |
Energizer Holdings, Inc. | 373 | 15,591 |
Herbalife Nutrition Ltd. * | 874 | 39,313 |
Kimberly-Clark Corp. | 1,853 | 237,795 |
Medifast, Inc. | 60 | 15,179 |
Nu Skin Enterprises, Inc., Class A | 1,207 | 61,774 |
Spectrum Brands Holdings, Inc. | 405 | 31,408 |
The Clorox Co. | 569 | 103,017 |
The Estee Lauder Cos., Inc., Class A | 751 | 214,681 |
The Procter & Gamble Co. | 15,830 | 1,955,480 |
USANA Health Sciences, Inc. * | 197 | 19,121 |
WD-40 Co. | 50 | 15,588 |
3,276,915 | ||
Insurance 3.4% | ||
Aflac, Inc. | 10,125 | 484,886 |
Alleghany Corp. | 138 | 89,207 |
Ambac Financial Group, Inc. * | 828 | 14,035 |
American Equity Investment Life Holding Co. | 1,586 | 43,821 |
American Financial Group, Inc. | 789 | 84,186 |
American International Group, Inc. | 33,527 | 1,473,512 |
American National Group, Inc. | 95 | 8,552 |
AMERISAFE, Inc. | 178 | 10,417 |
Aon plc, Class A | 1,527 | 347,713 |
Arch Capital Group Ltd. * | 2,031 | 72,750 |
Argo Group International Holdings Ltd. | 473 | 21,857 |
Arthur J. Gallagher & Co. | 810 | 97,038 |
Assurant, Inc. | 480 | 59,146 |
Assured Guaranty Ltd. | 3,124 | 138,143 |
Athene Holding Ltd., Class A * | 1,334 | 60,817 |
Axis Capital Holdings Ltd. | 1,202 | 60,737 |
Brighthouse Financial, Inc. * | 842 | 33,587 |
Brown & Brown, Inc. | 963 | 44,202 |
Chubb Ltd. | 3,389 | 550,984 |
Cincinnati Financial Corp. | 1,215 | 118,912 |
CNA Financial Corp. | 438 | 18,632 |
CNO Financial Group, Inc. | 3,644 | 87,675 |
Employers Holdings, Inc. | 308 | 10,253 |
Everest Re Group Ltd. | 455 | 110,023 |
Fidelity National Financial, Inc. | 3,160 | 120,965 |
First American Financial Corp. | 1,259 | 66,148 |
Genworth Financial, Inc., Class A * | 17,127 | 53,436 |
Globe Life, Inc. | 952 | 88,917 |
Horace Mann Educators Corp. | 309 | 11,909 |
James River Group Holdings Ltd. | 341 | 15,655 |
Kemper Corp. | 399 | 30,172 |
Lincoln National Corp. | 4,206 | 239,195 |
Loews Corp. | 4,476 | 213,998 |
Markel Corp. * | 60 | 65,328 |
Marsh & McLennan Cos., Inc. | 2,855 | 328,953 |
MBIA, Inc. * | 2,416 | 17,637 |
Mercury General Corp. | 411 | 24,002 |
MetLife, Inc. | 13,170 | 758,592 |
Old Republic International Corp. | 3,951 | 76,373 |
Primerica, Inc. | 360 | 50,843 |
Principal Financial Group, Inc. | 3,791 | 214,495 |
Security | Number of Shares | Value ($) |
ProAssurance Corp. | 2,071 | 51,257 |
Prudential Financial, Inc. | 7,755 | 672,514 |
Reinsurance Group of America, Inc. | 924 | 112,940 |
RenaissanceRe Holdings Ltd. | 256 | 42,747 |
RLI Corp. | 198 | 20,659 |
Safety Insurance Group, Inc. | 145 | 11,467 |
Selective Insurance Group, Inc. | 414 | 28,082 |
Stewart Information Services Corp. | 553 | 26,102 |
The Allstate Corp. | 4,642 | 494,837 |
The Hanover Insurance Group, Inc. | 393 | 45,333 |
The Hartford Financial Services Group, Inc. | 4,772 | 241,893 |
The Progressive Corp. | 3,087 | 265,328 |
The Travelers Cos., Inc. | 6,268 | 911,994 |
United Fire Group, Inc. | 317 | 9,336 |
Universal Insurance Holdings, Inc. | 691 | 10,289 |
Unum Group | 5,335 | 141,271 |
W.R. Berkley Corp. | 1,215 | 84,236 |
White Mountains Insurance Group Ltd. | 42 | 50,192 |
Willis Towers Watson plc | 516 | 113,850 |
9,752,030 | ||
Materials 3.9% | ||
AdvanSix, Inc. * | 1,097 | 30,497 |
Air Products and Chemicals, Inc. | 916 | 234,148 |
Albemarle Corp. | 877 | 137,873 |
Alcoa Corp. * | 9,677 | 237,570 |
Allegheny Technologies, Inc. * | 2,523 | 49,602 |
Alpha Metallurgical Resources, Inc. * | 2,782 | 41,730 |
AptarGroup, Inc. | 385 | 50,077 |
Arconic Corp. * | 1,291 | 28,299 |
Ashland Global Holdings, Inc. | 672 | 56,529 |
Avery Dennison Corp. | 673 | 117,916 |
Avient Corp. | 1,218 | 52,642 |
Axalta Coating Systems Ltd. * | 1,690 | 46,205 |
Balchem Corp. | 135 | 16,114 |
Ball Corp. | 1,239 | 105,798 |
Berry Global Group, Inc. * | 1,266 | 70,136 |
Cabot Corp. | 969 | 47,704 |
Carpenter Technology Corp. | 1,238 | 50,337 |
Celanese Corp. | 1,350 | 187,528 |
Century Aluminum Co. * | 1,424 | 19,552 |
CF Industries Holdings, Inc. | 3,478 | 157,484 |
Clearwater Paper Corp. * | 590 | 20,656 |
Cleveland-Cliffs, Inc. | 6,604 | 88,097 |
Commercial Metals Co. | 2,916 | 73,337 |
Compass Minerals International, Inc. | 458 | 28,895 |
Constellium SE * | 1,346 | 17,821 |
Corteva, Inc. | 4,413 | 199,247 |
Crown Holdings, Inc. * | 806 | 77,021 |
Domtar Corp. | 2,826 | 104,703 |
Dow, Inc. | 4,118 | 244,239 |
DuPont de Nemours, Inc. | 12,446 | 875,203 |
Eagle Materials, Inc. | 416 | 52,158 |
Eastman Chemical Co. | 2,471 | 269,981 |
Ecolab, Inc. | 1,232 | 257,932 |
Element Solutions, Inc. | 1,538 | 27,761 |
Ferro Corp. * | 862 | 13,680 |
FMC Corp. | 336 | 34,168 |
Freeport-McMoRan, Inc. * | 11,459 | 388,575 |
GCP Applied Technologies, Inc. * | 640 | 15,866 |
Glatfelter Corp. | 888 | 14,252 |
Graphic Packaging Holding Co. | 4,344 | 68,939 |
Greif, Inc., Class A | 560 | 27,048 |
H.B. Fuller Co. | 520 | 29,156 |
Hecla Mining Co. | 3,104 | 20,269 |
Huntsman Corp. | 4,723 | 128,938 |
Ingevity Corp. * | 262 | 18,204 |
Security | Number of Shares | Value ($) |
Innospec, Inc. | 245 | 24,610 |
International Flavors & Fragrances, Inc. | 573 | 77,647 |
International Paper Co. | 7,715 | 383,050 |
Kaiser Aluminum Corp. | 302 | 34,458 |
Kraton Corp. * | 1,007 | 37,450 |
Linde plc | 2,501 | 610,919 |
Livent Corp. * | 895 | 16,665 |
Louisiana-Pacific Corp. | 1,439 | 68,511 |
LyondellBasell Industries N.V., Class A | 6,846 | 705,754 |
Martin Marietta Materials, Inc. | 415 | 139,801 |
Materion Corp. | 311 | 21,297 |
Mercer International, Inc. | 1,076 | 16,538 |
Minerals Technologies, Inc. | 493 | 35,116 |
Myers Industries, Inc. | 504 | 11,159 |
Neenah, Inc. | 292 | 16,153 |
NewMarket Corp. | 72 | 27,287 |
Newmont Corp. | 2,589 | 140,790 |
Nucor Corp. | 7,413 | 443,446 |
O-I Glass, Inc. * | 6,156 | 71,902 |
Olin Corp. | 4,565 | 141,241 |
Orion Engineered Carbons S.A. | 1,241 | 21,966 |
Packaging Corp. of America | 1,090 | 143,902 |
PPG Industries, Inc. | 2,665 | 359,295 |
Quaker Chemical Corp. | 50 | 14,119 |
Rayonier Advanced Materials, Inc. * | 3,906 | 36,131 |
Reliance Steel & Aluminum Co. | 1,468 | 194,070 |
Royal Gold, Inc. | 140 | 14,519 |
RPM International, Inc. | 849 | 67,614 |
Schnitzer Steel Industries, Inc., Class A | 1,263 | 43,624 |
Schweitzer-Mauduit International, Inc. | 523 | 24,424 |
Sealed Air Corp. | 2,570 | 107,683 |
Sensient Technologies Corp. | 443 | 34,488 |
Silgan Holdings, Inc. | 979 | 36,771 |
Sonoco Products Co. | 1,321 | 78,692 |
Southern Copper Corp. | 591 | 42,156 |
Steel Dynamics, Inc. | 4,571 | 190,062 |
Stepan Co. | 221 | 26,672 |
Summit Materials, Inc., Class A * | 1,321 | 36,605 |
SunCoke Energy, Inc. | 3,189 | 20,378 |
The Chemours Co. | 3,596 | 84,614 |
The Mosaic Co. | 12,322 | 362,267 |
The Scotts Miracle-Gro Co. | 229 | 48,811 |
The Sherwin-Williams Co. | 276 | 187,774 |
TimkenSteel Corp. * | 3,059 | 24,717 |
Trinseo S.A. | 1,452 | 93,959 |
Tronox Holdings plc, Class A | 1,590 | 29,161 |
United States Steel Corp. | 12,871 | 213,787 |
US Concrete, Inc. * | 365 | 18,783 |
Valvoline, Inc. | 912 | 22,764 |
Verso Corp., Class A | 1,745 | 21,813 |
Vulcan Materials Co. | 696 | 116,225 |
W.R. Grace & Co. | 600 | 35,556 |
Warrior Met Coal, Inc. | 2,462 | 47,197 |
Westlake Chemical Corp. | 555 | 47,502 |
Westrock Co. | 6,633 | 289,132 |
Worthington Industries, Inc. | 780 | 49,834 |
11,044,748 | ||
Media & Entertainment 4.7% | ||
Activision Blizzard, Inc. | 2,369 | 226,500 |
Alphabet, Inc., Class A * | 799 | 1,615,506 |
Alphabet, Inc., Class C * | 799 | 1,627,451 |
Altice USA, Inc., Class A * | 3,663 | 123,113 |
AMC Entertainment Holdings, Inc., Class A (b) | 4,572 | 36,622 |
AMC Networks, Inc., Class A * | 1,294 | 84,873 |
Cable One, Inc. | 12 | 22,978 |
Security | Number of Shares | Value ($) |
Cars.com, Inc. * | 2,022 | 23,597 |
Charter Communications, Inc., Class A * | 803 | 492,576 |
Cinemark Holdings, Inc. | 2,917 | 65,487 |
Comcast Corp., Class A | 40,995 | 2,161,256 |
Discovery, Inc., Class A * | 1,732 | 91,848 |
Discovery, Inc., Class C * | 3,850 | 173,250 |
DISH Network Corp., Class A * | 2,675 | 84,289 |
Electronic Arts, Inc. | 1,247 | 167,061 |
Facebook, Inc., Class A * | 4,585 | 1,181,188 |
Fox Corp., Class A | 4,158 | 138,503 |
Fox Corp., Class B | 1,893 | 60,444 |
Gannett Co., Inc. * | 9,154 | 45,312 |
Gray Television, Inc. * | 973 | 17,660 |
IAC/InterActiveCorp * | 261 | 63,901 |
iHeartMedia, Inc., Class A * | 2,023 | 28,464 |
John Wiley & Sons, Inc., Class A | 805 | 42,407 |
Liberty Media Corp. - Liberty Formula One, Class C * | 584 | 25,638 |
Liberty Media Corp. - Liberty SiriusXM, Class A * | 1,657 | 73,587 |
Liberty Media Corp. - Liberty SiriusXM, Class C * | 3,117 | 137,522 |
Liberty TripAdvisor Holdings, Inc., Class A * | 2,750 | 15,483 |
Lions Gate Entertainment Corp., Class A * | 821 | 11,921 |
Lions Gate Entertainment Corp., Class B * | 1,858 | 23,299 |
Live Nation Entertainment, Inc. * | 460 | 40,876 |
Madison Square Garden Entertainment Corp. * | 78 | 8,406 |
Madison Square Garden Sports Corp. * | 73 | 14,042 |
Meredith Corp. * | 1,199 | 29,711 |
MSG Networks, Inc., Class A * | 708 | 12,008 |
National CineMedia, Inc. | 2,876 | 13,575 |
Netflix, Inc. * | 144 | 77,594 |
News Corp., Class A | 5,765 | 135,189 |
News Corp., Class B | 1,823 | 41,783 |
Nexstar Media Group, Inc., Class A | 340 | 46,767 |
Omnicom Group, Inc. | 2,837 | 194,987 |
Scholastic Corp. | 824 | 23,731 |
Sinclair Broadcast Group, Inc., Class A | 1,550 | 47,942 |
Sirius XM Holdings, Inc. | 5,079 | 29,712 |
Spotify Technology S.A. * | 66 | 20,287 |
Take-Two Interactive Software, Inc. * | 217 | 40,028 |
TEGNA, Inc. | 3,170 | 57,789 |
The E.W. Scripps Co., Class A | 707 | 13,306 |
The Interpublic Group of Cos., Inc. | 4,519 | 118,036 |
The Marcus Corp. * | 522 | 10,252 |
The New York Times Co., Class A | 519 | 26,557 |
The Walt Disney Co. * | 13,625 | 2,575,670 |
TripAdvisor, Inc. * | 1,133 | 56,219 |
Twitter, Inc. * | 870 | 67,042 |
ViacomCBS, Inc., Class B | 11,602 | 748,213 |
Yandex N.V., Class A * | 613 | 39,223 |
Yelp, Inc. * | 551 | 20,778 |
Zynga, Inc., Class A * | 2,251 | 25,099 |
13,396,558 | ||
Pharmaceuticals, Biotechnology & Life Sciences 4.9% | ||
AbbVie, Inc. | 14,161 | 1,525,706 |
Agilent Technologies, Inc. | 1,156 | 141,113 |
Alexion Pharmaceuticals, Inc. * | 823 | 125,713 |
Alkermes plc * | 456 | 8,682 |
Amgen, Inc. | 4,973 | 1,118,527 |
Bio-Rad Laboratories, Inc., Class A * | 51 | 29,809 |
Bio-Techne Corp. | 68 | 24,595 |
Biogen, Inc. * | 1,262 | 344,375 |
BioMarin Pharmaceutical, Inc. * | 146 | 11,305 |
Bristol-Myers Squibb Co. | 8,710 | 534,184 |
Security | Number of Shares | Value ($) |
Bruker Corp. | 425 | 25,916 |
Catalent, Inc. * | 329 | 37,411 |
Charles River Laboratories International, Inc. * | 134 | 38,343 |
Elanco Animal Health, Inc. * | 1,645 | 54,055 |
Eli Lilly and Co. | 2,821 | 577,995 |
Emergent BioSolutions, Inc. * | 124 | 11,904 |
Gilead Sciences, Inc. | 20,205 | 1,240,587 |
Horizon Therapeutics plc * | 147 | 13,364 |
ICON plc * | 268 | 48,422 |
Illumina, Inc. * | 213 | 93,594 |
Incyte Corp. * | 160 | 12,586 |
IQVIA Holdings, Inc. * | 1,077 | 207,635 |
Jazz Pharmaceuticals plc * | 414 | 69,569 |
Johnson & Johnson | 17,615 | 2,791,273 |
Lannett Co., Inc. * | 1,169 | 7,084 |
Merck & Co., Inc. | 19,135 | 1,389,584 |
Mettler-Toledo International, Inc. * | 81 | 90,400 |
Myriad Genetics, Inc. * | 1,455 | 44,363 |
Nektar Therapeutics * | 453 | 10,279 |
PDL BioPharma, Inc. *(c) | 5,139 | 12,693 |
PerkinElmer, Inc. | 385 | 48,545 |
Perrigo Co., plc | 1,133 | 45,728 |
Pfizer, Inc. | 60,905 | 2,039,708 |
PRA Health Sciences, Inc. * | 207 | 30,514 |
Prestige Consumer Healthcare, Inc. * | 360 | 15,016 |
Regeneron Pharmaceuticals, Inc. * | 195 | 87,861 |
Syneos Health, Inc. * | 256 | 19,802 |
Taro Pharmaceutical Industries Ltd. * | 157 | 11,225 |
Thermo Fisher Scientific, Inc. | 1,025 | 461,332 |
United Therapeutics Corp. * | 636 | 106,326 |
Vertex Pharmaceuticals, Inc. * | 79 | 16,791 |
Viatris, Inc. * | 16,036 | 238,135 |
Waters Corp. * | 399 | 109,278 |
Zoetis, Inc. | 863 | 133,972 |
14,005,299 | ||
Real Estate 2.6% | ||
Acadia Realty Trust | 813 | 15,374 |
Alexander & Baldwin, Inc. | 1,473 | 25,733 |
Alexandria Real Estate Equities, Inc. | 283 | 45,192 |
American Assets Trust, Inc. | 301 | 9,355 |
American Campus Communities, Inc. | 1,101 | 45,097 |
American Finance Trust, Inc. | 1,209 | 10,712 |
American Homes 4 Rent, Class A | 842 | 26,220 |
American Tower Corp. | 924 | 199,704 |
Americold Realty Trust | 414 | 14,507 |
Apartment Income REIT Corp. | 1,045 | 42,720 |
Apartment Investment & Management Co., Class A | 950 | 4,522 |
Apple Hospitality REIT, Inc. | 4,195 | 59,779 |
Ashford Hospitality Trust, Inc. * | 4,170 | 14,303 |
AvalonBay Communities, Inc. | 657 | 115,468 |
Boston Properties, Inc. | 1,236 | 122,525 |
Brandywine Realty Trust | 2,145 | 26,233 |
Brixmor Property Group, Inc. | 4,160 | 81,869 |
Brookfield Property REIT, Inc., Class A | 1,128 | 19,740 |
Camden Property Trust | 507 | 52,804 |
CBRE Group, Inc., Class A * | 2,854 | 216,248 |
Centerspace | 124 | 8,510 |
Chatham Lodging Trust * | 1,219 | 16,981 |
Colony Capital, Inc. | 19,346 | 114,528 |
Columbia Property Trust, Inc. | 1,757 | 24,809 |
CorePoint Lodging, Inc. | 2,429 | 22,128 |
CoreSite Realty Corp. | 101 | 12,293 |
Corporate Office Properties Trust | 883 | 22,958 |
Cousins Properties, Inc. | 502 | 16,837 |
Security | Number of Shares | Value ($) |
Crown Castle International Corp. | 1,335 | 207,926 |
CubeSmart | 878 | 32,451 |
Cushman & Wakefield plc * | 678 | 10,495 |
CyrusOne, Inc. | 337 | 22,117 |
DiamondRock Hospitality Co. * | 4,057 | 41,057 |
Digital Realty Trust, Inc. | 2,785 | 375,223 |
Diversified Healthcare Trust | 11,888 | 53,496 |
Douglas Emmett, Inc. | 917 | 30,032 |
Duke Realty Corp. | 1,360 | 53,380 |
EastGroup Properties, Inc. | 103 | 14,019 |
Empire State Realty Trust, Inc., Class A | 2,212 | 24,354 |
EPR Properties | 716 | 32,349 |
Equinix, Inc. | 203 | 131,613 |
Equity Commonwealth | 722 | 20,368 |
Equity LifeStyle Properties, Inc. | 499 | 30,763 |
Equity Residential | 2,217 | 145,014 |
Essex Property Trust, Inc. | 269 | 68,539 |
Extra Space Storage, Inc. | 464 | 58,325 |
Federal Realty Investment Trust | 450 | 45,527 |
First Industrial Realty Trust, Inc. | 436 | 18,622 |
Franklin Street Properties Corp. | 2,528 | 12,539 |
Gaming & Leisure Properties, Inc. | 981 | 43,556 |
Global Net Lease, Inc. | 643 | 11,947 |
Healthcare Realty Trust, Inc. | 735 | 21,212 |
Healthcare Trust of America, Inc., Class A | 990 | 26,888 |
Healthpeak Properties, Inc. | 3,343 | 97,248 |
Hersha Hospitality Trust * | 1,732 | 19,260 |
Highwoods Properties, Inc. | 871 | 34,805 |
Host Hotels & Resorts, Inc. | 13,195 | 218,905 |
Hudson Pacific Properties, Inc. | 949 | 24,285 |
Invitation Homes, Inc. | 1,445 | 42,107 |
Iron Mountain, Inc. | 3,978 | 138,395 |
iStar, Inc. | 789 | 13,981 |
JBG SMITH Properties | 557 | 17,685 |
Jones Lang LaSalle, Inc. * | 788 | 137,096 |
Kennedy-Wilson Holdings, Inc. | 1,057 | 19,829 |
Kilroy Realty Corp. | 527 | 33,443 |
Kimco Realty Corp. | 4,019 | 73,668 |
Kite Realty Group Trust | 1,423 | 27,279 |
Lamar Advertising Co., Class A | 642 | 55,591 |
Lexington Realty Trust | 2,043 | 21,901 |
Life Storage, Inc. | 358 | 30,036 |
LTC Properties, Inc. | 220 | 9,000 |
Mack-Cali Realty Corp. | 1,138 | 15,898 |
Marcus & Millichap, Inc. * | 248 | 9,392 |
Medical Properties Trust, Inc. | 1,522 | 32,860 |
Mid-America Apartment Communities, Inc. | 513 | 69,116 |
National Health Investors, Inc. | 199 | 13,586 |
National Retail Properties, Inc. | 734 | 32,179 |
New Senior Investment Group, Inc. | 2,773 | 16,943 |
Newmark Group, Inc., Class A | 1,518 | 15,210 |
Office Properties Income Trust | 605 | 15,300 |
Omega Healthcare Investors, Inc. | 1,217 | 45,199 |
Outfront Media, Inc. | 2,599 | 52,708 |
Paramount Group, Inc. | 2,425 | 22,480 |
Park Hotels & Resorts, Inc. | 6,377 | 138,700 |
Pebblebrook Hotel Trust | 1,423 | 32,245 |
Pennsylvania Real Estate Investment Trust | 7,469 | 14,938 |
Physicians Realty Trust | 743 | 12,631 |
Piedmont Office Realty Trust, Inc., Class A | 1,774 | 30,264 |
PotlatchDeltic Corp. | 404 | 20,503 |
Preferred Apartment Communities, Inc., Class A | 942 | 7,753 |
Prologis, Inc. | 1,392 | 137,905 |
PS Business Parks, Inc. | 96 | 13,907 |
Public Storage | 560 | 131,006 |
QTS Realty Trust, Inc., Class A | 196 | 12,176 |
Rayonier, Inc. | 1,183 | 38,613 |
Security | Number of Shares | Value ($) |
Realogy Holdings Corp. * | 9,111 | 137,394 |
Realty Income Corp. | 982 | 59,175 |
Regency Centers Corp. | 904 | 49,521 |
Retail Opportunity Investments Corp. | 960 | 15,178 |
Retail Properties of America, Inc., Class A | 4,098 | 43,152 |
RLJ Lodging Trust | 3,706 | 58,184 |
RPT Realty | 1,632 | 17,903 |
Ryman Hospitality Properties, Inc. | 505 | 39,031 |
Sabra Health Care REIT, Inc. | 1,137 | 19,579 |
SBA Communications Corp. | 124 | 31,636 |
Seritage Growth Properties, Class A * | 642 | 12,962 |
Service Properties Trust | 7,014 | 90,060 |
Simon Property Group, Inc. | 3,336 | 376,701 |
SITE Centers Corp. | 3,537 | 47,184 |
SL Green Realty Corp. | 1,261 | 87,097 |
Spirit Realty Capital, Inc. | 760 | 32,695 |
STAG Industrial, Inc. | 385 | 12,147 |
STORE Capital Corp. | 694 | 23,207 |
Summit Hotel Properties, Inc. * | 2,026 | 20,969 |
Sun Communities, Inc. | 244 | 37,076 |
Sunstone Hotel Investors, Inc. | 4,156 | 54,901 |
Tanger Factory Outlet Centers, Inc. | 2,798 | 44,041 |
The GEO Group, Inc. | 3,462 | 24,926 |
The Howard Hughes Corp. * | 241 | 22,864 |
The Macerich Co. | 5,847 | 75,543 |
UDR, Inc. | 1,253 | 51,586 |
Uniti Group, Inc. | 4,065 | 48,414 |
Urban Edge Properties | 1,245 | 20,543 |
Ventas, Inc. | 4,004 | 211,812 |
VEREIT, Inc. | 2,129 | 83,031 |
VICI Properties, Inc. | 1,285 | 36,623 |
Vornado Realty Trust | 1,783 | 76,562 |
Washington Prime Group, Inc. | 4,172 | 25,992 |
Washington Real Estate Investment Trust | 699 | 15,741 |
Weingarten Realty Investors | 1,277 | 32,423 |
Welltower, Inc. | 3,506 | 238,057 |
Weyerhaeuser Co. | 8,791 | 297,751 |
WP Carey, Inc. | 673 | 46,127 |
Xenia Hotels & Resorts, Inc. | 2,563 | 51,183 |
7,533,958 | ||
Retailing 6.1% | ||
Abercrombie & Fitch Co., Class A | 3,700 | 101,269 |
Advance Auto Parts, Inc. | 752 | 120,583 |
Amazon.com, Inc. * | 389 | 1,203,150 |
American Eagle Outfitters, Inc. | 5,682 | 146,027 |
Asbury Automotive Group, Inc. * | 480 | 81,336 |
At Home Group, Inc. * | 958 | 24,132 |
AutoNation, Inc. * | 1,521 | 114,105 |
AutoZone, Inc. * | 91 | 105,553 |
Bed Bath & Beyond, Inc. | 18,044 | 484,662 |
Best Buy Co., Inc. | 3,537 | 354,938 |
Big Lots, Inc. | 1,740 | 110,560 |
Booking Holdings, Inc. * | 257 | 598,427 |
Burlington Stores, Inc. * | 213 | 55,129 |
Caleres, Inc. | 3,003 | 47,628 |
CarMax, Inc. * | 1,706 | 203,884 |
Chico's FAS, Inc. | 25,197 | 67,780 |
Conn's, Inc. * | 1,150 | 16,318 |
Core-Mark Holding Co., Inc. | 2,792 | 90,963 |
Designer Brands, Inc., Class A | 5,412 | 67,596 |
Dick's Sporting Goods, Inc. | 1,964 | 140,171 |
Dillard's, Inc., Class A | 1,149 | 91,575 |
Dollar General Corp. | 2,029 | 383,461 |
Dollar Tree, Inc. * | 2,076 | 203,863 |
eBay, Inc. | 7,500 | 423,150 |
Expedia Group, Inc. | 1,243 | 200,123 |
Security | Number of Shares | Value ($) |
Express, Inc. * | 18,961 | 51,005 |
Five Below, Inc. * | 151 | 28,104 |
Floor & Decor Holdings, Inc., Class A * | 139 | 13,217 |
Foot Locker, Inc. | 4,185 | 201,257 |
GameStop Corp., Class A *(b) | 19,258 | 1,959,309 |
Genesco, Inc. * | 1,494 | 67,140 |
Genuine Parts Co. | 1,860 | 195,951 |
Group 1 Automotive, Inc. | 678 | 103,354 |
Groupon, Inc. * | 754 | 32,724 |
GrubHub, Inc. * | 190 | 12,173 |
Guess?, Inc. | 1,979 | 49,891 |
Haverty Furniture Cos., Inc. | 659 | 23,836 |
Hibbett Sports, Inc. * | 741 | 47,617 |
Kohl's Corp. | 12,705 | 701,951 |
L Brands, Inc. * | 6,104 | 333,645 |
Lithia Motors, Inc., Class A | 331 | 123,777 |
LKQ Corp. * | 3,453 | 136,014 |
Lowe's Cos., Inc. | 5,941 | 949,075 |
Lumber Liquidators Holdings, Inc. * | 609 | 15,085 |
Macy's, Inc. | 38,649 | 587,851 |
MarineMax, Inc. * | 417 | 18,619 |
MercadoLibre, Inc. * | 13 | 21,295 |
Monro, Inc. | 341 | 21,139 |
Murphy USA, Inc. | 762 | 94,983 |
National Vision Holdings, Inc. * | 417 | 19,803 |
Nordstrom, Inc. | 6,026 | 219,648 |
O'Reilly Automotive, Inc. * | 480 | 214,718 |
Ollie's Bargain Outlet Holdings, Inc. * | 177 | 14,634 |
Party City Holdco, Inc. * | 9,455 | 72,425 |
Penske Automotive Group, Inc. | 1,108 | 75,322 |
Pool Corp. | 126 | 42,181 |
Qurate Retail, Inc., Class A | 22,233 | 276,134 |
Rent-A-Center, Inc. | 399 | 23,046 |
RH * | 32 | 15,692 |
Ross Stores, Inc. | 2,230 | 260,107 |
Sally Beauty Holdings, Inc. * | 3,640 | 58,604 |
Shoe Carnival, Inc. | 379 | 18,556 |
Signet Jewelers Ltd. * | 3,902 | 194,241 |
Sleep Number Corp. * | 368 | 50,464 |
Sonic Automotive, Inc., Class A | 871 | 40,162 |
Stamps.com, Inc. * | 62 | 11,280 |
Target Corp. | 6,500 | 1,192,360 |
The Aaron's Co., Inc. * | 566 | 12,429 |
The Buckle, Inc. | 914 | 35,134 |
The Cato Corp., Class A | 1,693 | 20,892 |
The Children's Place, Inc. * | 620 | 42,935 |
The Gap, Inc. * | 11,365 | 283,557 |
The Home Depot, Inc. | 6,093 | 1,574,066 |
The Michaels Cos., Inc. * | 4,494 | 67,410 |
The ODP Corp. * | 3,658 | 139,992 |
The TJX Cos., Inc. | 10,334 | 681,941 |
Tractor Supply Co. | 1,043 | 165,795 |
Ulta Beauty, Inc. * | 335 | 107,980 |
Urban Outfitters, Inc. * | 2,549 | 86,411 |
Williams-Sonoma, Inc. | 916 | 120,262 |
Zumiez, Inc. * | 470 | 21,188 |
17,384,764 | ||
Semiconductors & Semiconductor Equipment 3.9% | ||
Advanced Energy Industries, Inc. | 214 | 22,352 |
Advanced Micro Devices, Inc. * | 329 | 27,804 |
Ambarella, Inc. * | 130 | 14,624 |
Amkor Technology, Inc. | 2,043 | 48,807 |
Analog Devices, Inc. | 1,315 | 204,903 |
Applied Materials, Inc. | 6,577 | 777,336 |
Broadcom, Inc. | 1,519 | 713,733 |
Brooks Automation, Inc. | 223 | 18,545 |
Security | Number of Shares | Value ($) |
Cirrus Logic, Inc. * | 494 | 40,399 |
CMC Materials, Inc. | 91 | 15,515 |
Cree, Inc. * | 636 | 72,161 |
Diodes, Inc. * | 272 | 21,357 |
Entegris, Inc. | 344 | 36,192 |
First Solar, Inc. * | 703 | 56,957 |
Intel Corp. | 46,852 | 2,847,665 |
KLA Corp. | 757 | 235,601 |
Kulicke & Soffa Industries, Inc. | 656 | 32,708 |
Lam Research Corp. | 692 | 392,495 |
Marvell Technology Group Ltd. | 1,747 | 84,345 |
Maxim Integrated Products, Inc. | 1,415 | 131,836 |
Microchip Technology, Inc. | 842 | 128,514 |
Micron Technology, Inc. * | 11,622 | 1,063,762 |
MKS Instruments, Inc. | 304 | 50,130 |
Monolithic Power Systems, Inc. | 51 | 19,101 |
NVIDIA Corp. | 696 | 381,812 |
NXP Semiconductor N.V. | 2,087 | 380,982 |
ON Semiconductor Corp. * | 3,602 | 145,053 |
Photronics, Inc. * | 1,011 | 12,041 |
Power Integrations, Inc. | 235 | 20,767 |
Qorvo, Inc. * | 852 | 148,870 |
QUALCOMM, Inc. | 10,477 | 1,426,863 |
Semtech Corp. * | 253 | 18,547 |
Silicon Laboratories, Inc. * | 151 | 23,517 |
Skyworks Solutions, Inc. | 1,187 | 211,072 |
Synaptics, Inc. * | 348 | 46,642 |
Teradyne, Inc. | 685 | 88,098 |
Texas Instruments, Inc. | 5,727 | 986,590 |
Ultra Clean Holdings, Inc. * | 330 | 15,305 |
Xilinx, Inc. | 1,187 | 154,666 |
11,117,667 | ||
Software & Services 5.4% | ||
Accenture plc, Class A | 2,766 | 693,989 |
ACI Worldwide, Inc. * | 670 | 25,634 |
Adobe, Inc. * | 507 | 233,053 |
Akamai Technologies, Inc. * | 791 | 74,749 |
Alliance Data Systems Corp. | 1,985 | 191,552 |
Amdocs Ltd. | 1,603 | 121,523 |
ANSYS, Inc. * | 170 | 57,968 |
Aspen Technology, Inc. * | 186 | 27,995 |
Autodesk, Inc. * | 210 | 57,960 |
Automatic Data Processing, Inc. | 1,881 | 327,332 |
Black Knight, Inc. * | 408 | 31,290 |
Blackbaud, Inc. * | 155 | 10,667 |
Broadridge Financial Solutions, Inc. | 551 | 78,512 |
Cadence Design Systems, Inc. * | 555 | 78,305 |
Cardtronics plc, Class A * | 432 | 16,654 |
CDK Global, Inc. | 1,188 | 59,566 |
Cerence, Inc. * | 303 | 33,700 |
Check Point Software Technologies Ltd. * | 636 | 70,113 |
Citrix Systems, Inc. | 786 | 104,994 |
Cognizant Technology Solutions Corp., Class A | 5,365 | 394,220 |
Cognyte Software Ltd. * | 301 | 8,690 |
CommVault Systems, Inc. * | 307 | 19,565 |
Concentrix Corp. * | 671 | 82,875 |
Conduent, Inc. * | 15,054 | 80,991 |
CSG Systems International, Inc. | 327 | 15,091 |
DXC Technology Co. | 12,370 | 311,971 |
Ebix, Inc. | 339 | 8,265 |
EPAM Systems, Inc. * | 85 | 31,757 |
Euronet Worldwide, Inc. * | 257 | 38,630 |
EVERTEC, Inc. | 330 | 12,837 |
ExlService Holdings, Inc. * | 174 | 14,724 |
Fair Isaac Corp. * | 61 | 27,911 |
Security | Number of Shares | Value ($) |
Fidelity National Information Services, Inc. | 1,490 | 205,620 |
Fiserv, Inc. * | 1,657 | 191,168 |
FleetCor Technologies, Inc. * | 279 | 77,369 |
Fortinet, Inc. * | 142 | 23,977 |
Gartner, Inc. * | 292 | 52,280 |
Genpact Ltd. | 1,402 | 56,697 |
Global Payments, Inc. | 385 | 76,226 |
GoDaddy, Inc., Class A * | 164 | 13,304 |
InterDigital, Inc. | 400 | 25,348 |
International Business Machines Corp. | 14,979 | 1,781,452 |
Intuit, Inc. | 651 | 253,981 |
j2 Global, Inc. * | 327 | 36,421 |
Jack Henry & Associates, Inc. | 309 | 45,868 |
LiveRamp Holdings, Inc. * | 550 | 34,738 |
Manhattan Associates, Inc. * | 270 | 33,197 |
Mastercard, Inc., Class A | 1,600 | 566,160 |
MAXIMUS, Inc. | 646 | 52,507 |
Microsoft Corp. | 20,118 | 4,675,021 |
MicroStrategy, Inc., Class A * | 58 | 43,524 |
NIC, Inc. | 396 | 13,745 |
NortonLifeLock, Inc. | 8,500 | 165,835 |
Nuance Communications, Inc. * | 660 | 29,436 |
Oracle Corp. | 21,114 | 1,362,064 |
Palo Alto Networks, Inc. * | 37 | 13,257 |
Paychex, Inc. | 1,568 | 142,798 |
Paycom Software, Inc. * | 25 | 9,356 |
PayPal Holdings, Inc. * | 1,627 | 422,776 |
Pegasystems, Inc. | 71 | 9,397 |
Perficient, Inc. * | 216 | 12,029 |
Perspecta, Inc. | 2,045 | 59,714 |
Progress Software Corp. | 325 | 13,826 |
PTC, Inc. * | 224 | 30,675 |
Sabre Corp. | 5,796 | 85,143 |
salesforce.com, Inc. * | 527 | 114,095 |
Square, Inc., Class A * | 78 | 17,942 |
SS&C Technologies Holdings, Inc. | 520 | 34,466 |
Sykes Enterprises, Inc. * | 601 | 24,557 |
Synopsys, Inc. * | 302 | 74,053 |
Teradata Corp. * | 2,654 | 106,425 |
The Western Union Co. | 5,080 | 117,958 |
Tyler Technologies, Inc. * | 46 | 21,317 |
Unisys Corp. * | 711 | 17,455 |
Verint Systems, Inc. * | 301 | 14,836 |
VeriSign, Inc. * | 227 | 44,045 |
Visa, Inc., Class A | 3,754 | 797,312 |
VMware, Inc., Class A * | 268 | 37,040 |
WEX, Inc. * | 137 | 28,544 |
Xperi Holding Corp. | 1,765 | 37,241 |
15,445,278 | ||
Technology Hardware & Equipment 7.2% | ||
3D Systems Corp. * | 990 | 35,482 |
ADTRAN, Inc. | 1,257 | 21,168 |
Amphenol Corp., Class A | 1,347 | 169,291 |
Apple Inc. | 94,600 | 11,471,196 |
Arista Networks, Inc. * | 90 | 25,186 |
Arrow Electronics, Inc. * | 2,476 | 248,244 |
Avnet, Inc. | 8,057 | 306,730 |
Badger Meter, Inc. | 124 | 13,465 |
Belden, Inc. | 721 | 31,875 |
Benchmark Electronics, Inc. | 1,629 | 46,264 |
CDW Corp. | 949 | 148,889 |
Ciena Corp. * | 723 | 37,719 |
Cisco Systems, Inc. | 44,729 | 2,006,990 |
Cognex Corp. | 399 | 32,953 |
Coherent, Inc. * | 193 | 46,694 |
CommScope Holding Co., Inc. * | 4,947 | 72,177 |
Security | Number of Shares | Value ($) |
Comtech Telecommunications Corp. | 447 | 12,015 |
Corning, Inc. | 15,652 | 598,533 |
CTS Corp. | 349 | 11,227 |
Dell Technologies, Inc., Class C * | 900 | 72,963 |
Diebold Nixdorf, Inc. * | 1,235 | 17,932 |
Dolby Laboratories, Inc., Class A | 302 | 29,484 |
EchoStar Corp., Class A * | 724 | 16,435 |
ePlus, Inc. * | 219 | 20,709 |
F5 Networks, Inc. * | 643 | 122,157 |
Fabrinet * | 248 | 21,906 |
Flex Ltd. * | 12,017 | 218,589 |
FLIR Systems, Inc. | 1,069 | 57,085 |
Hewlett Packard Enterprise Co. | 52,458 | 763,789 |
HP, Inc. | 18,334 | 531,136 |
II-VI, Inc. * | 373 | 31,444 |
Insight Enterprises, Inc. * | 767 | 64,114 |
IPG Photonics Corp. * | 161 | 36,603 |
Itron, Inc. * | 226 | 26,496 |
Jabil, Inc. | 3,732 | 161,111 |
Juniper Networks, Inc. | 7,766 | 180,793 |
Keysight Technologies, Inc. * | 387 | 54,768 |
Knowles Corp. * | 960 | 19,958 |
Littelfuse, Inc. | 122 | 31,747 |
Lumentum Holdings, Inc. * | 163 | 14,670 |
Methode Electronics, Inc. | 534 | 20,789 |
Motorola Solutions, Inc. | 1,310 | 229,879 |
MTS Systems Corp. | 329 | 19,200 |
National Instruments Corp. | 868 | 38,539 |
NCR Corp. * | 2,369 | 82,346 |
NetApp, Inc. | 3,719 | 232,809 |
NETGEAR, Inc. * | 481 | 19,240 |
NetScout Systems, Inc. * | 1,181 | 33,328 |
OSI Systems, Inc. * | 178 | 16,842 |
PC Connection, Inc. | 321 | 14,769 |
Plantronics, Inc. * | 1,140 | 46,159 |
Plexus Corp. * | 432 | 36,279 |
Rogers Corp. * | 121 | 21,959 |
Sanmina Corp. * | 2,211 | 78,756 |
ScanSource, Inc. * | 1,269 | 36,090 |
Seagate Technology plc | 5,019 | 367,541 |
Stratasys Ltd. * | 564 | 19,452 |
SYNNEX Corp. | 665 | 59,291 |
TE Connectivity Ltd. | 2,899 | 376,957 |
Trimble, Inc. * | 1,023 | 75,845 |
TTM Technologies, Inc. * | 2,086 | 29,454 |
ViaSat, Inc. * | 541 | 27,667 |
Viavi Solutions, Inc. * | 740 | 11,977 |
Vishay Intertechnology, Inc. | 2,165 | 51,679 |
Vontier Corp. * | 558 | 17,521 |
Western Digital Corp. | 6,886 | 471,898 |
Xerox Holdings Corp. | 5,090 | 129,693 |
Zebra Technologies Corp., Class A * | 125 | 62,429 |
20,458,375 | ||
Telecommunication Services 2.7% | ||
AT&T, Inc. | 121,860 | 3,398,675 |
ATN International, Inc. | 145 | 7,059 |
Cincinnati Bell, Inc. * | 945 | 14,440 |
Cogent Communications Holdings, Inc. | 185 | 11,072 |
Consolidated Communications Holdings, Inc. * | 3,417 | 17,973 |
Iridium Communications, Inc. * | 328 | 12,566 |
Liberty Global plc, Class A * | 3,926 | 96,678 |
Liberty Global plc, Class C * | 9,249 | 224,751 |
Liberty Latin America Ltd., Class A * | 853 | 9,357 |
Liberty Latin America Ltd., Class C * | 2,232 | 24,463 |
Lumen Technologies, Inc. | 46,285 | 568,843 |
Security | Number of Shares | Value ($) |
Shenandoah Telecommunications Co. | 219 | 9,713 |
T-Mobile US, Inc. * | 2,737 | 328,358 |
Telephone and Data Systems, Inc. | 3,582 | 64,082 |
United States Cellular Corp. * | 350 | 10,300 |
Verizon Communications, Inc. | 53,587 | 2,963,361 |
Vonage Holdings Corp. * | 1,215 | 16,062 |
7,777,753 | ||
Transportation 2.4% | ||
Air Transport Services Group, Inc. * | 582 | 15,446 |
Alaska Air Group, Inc. * | 707 | 45,969 |
Allegiant Travel Co. * | 68 | 17,149 |
AMERCO | 96 | 55,173 |
American Airlines Group, Inc. * | 8,973 | 187,895 |
ArcBest Corp. | 1,100 | 64,889 |
Atlas Air Worldwide Holdings, Inc. * | 181 | 9,979 |
Atlas Corp. | 1,823 | 24,483 |
Avis Budget Group, Inc. * | 3,717 | 206,479 |
C.H. Robinson Worldwide, Inc. | 1,865 | 169,435 |
Copa Holdings S.A., Class A * | 158 | 14,484 |
Costamare, Inc. | 1,357 | 13,095 |
CSX Corp. | 6,193 | 566,969 |
Delta Air Lines, Inc. * | 4,096 | 196,362 |
Echo Global Logistics, Inc. * | 609 | 16,967 |
Expeditors International of Washington, Inc. | 1,823 | 167,424 |
FedEx Corp. | 4,034 | 1,026,653 |
Forward Air Corp. | 385 | 33,021 |
Hawaiian Holdings, Inc. * | 555 | 14,885 |
Heartland Express, Inc. | 533 | 9,701 |
Hub Group, Inc., Class A * | 668 | 38,463 |
J.B. Hunt Transport Services, Inc. | 773 | 113,530 |
JetBlue Airways Corp. * | 2,432 | 44,822 |
Kansas City Southern | 587 | 124,644 |
Kirby Corp. * | 881 | 55,115 |
Knight-Swift Transportation Holdings, Inc. | 1,250 | 54,000 |
Landstar System, Inc. | 432 | 69,180 |
Macquarie Infrastructure Corp. | 1,536 | 48,138 |
Marten Transport Ltd. | 656 | 10,614 |
Norfolk Southern Corp. | 2,104 | 530,334 |
Old Dominion Freight Line, Inc. | 379 | 81,398 |
Ryder System, Inc. | 2,795 | 189,417 |
Saia, Inc. * | 177 | 35,494 |
Schneider National, Inc., Class B | 919 | 21,256 |
SEACOR Holdings, Inc. * | 301 | 12,796 |
SkyWest, Inc. | 290 | 16,347 |
Southwest Airlines Co. | 2,932 | 170,437 |
Spirit Airlines, Inc. * | 587 | 21,062 |
Uber Technologies, Inc. * | 333 | 17,233 |
Union Pacific Corp. | 5,981 | 1,231,847 |
United Airlines Holdings, Inc. * | 2,729 | 143,764 |
United Parcel Service, Inc., Class B | 4,378 | 690,980 |
Werner Enterprises, Inc. | 655 | 28,113 |
XPO Logistics, Inc. * | 1,036 | 120,798 |
Yellow Corp. * | 4,030 | 24,059 |
6,750,299 | ||
Utilities 2.9% | ||
ALLETE, Inc. | 577 | 35,849 |
Alliant Energy Corp. | 1,578 | 72,841 |
Ameren Corp. | 2,041 | 143,421 |
American Electric Power Co., Inc. | 4,554 | 340,867 |
American States Water Co. | 169 | 12,345 |
American Water Works Co., Inc. | 777 | 110,241 |
Atlantica Sustainable Infrastructure plc | 576 | 20,822 |
Atmos Energy Corp. | 764 | 64,642 |
Avangrid, Inc. | 515 | 23,566 |
Security | Number of Shares | Value ($) |
Avista Corp. | 844 | 33,937 |
Black Hills Corp. | 535 | 31,651 |
California Water Service Group | 278 | 15,276 |
CenterPoint Energy, Inc. | 7,551 | 146,791 |
Chesapeake Utilities Corp. | 102 | 10,785 |
Clearway Energy, Inc., Class A | 166 | 4,341 |
Clearway Energy, Inc., Class C | 330 | 9,062 |
CMS Energy Corp. | 2,259 | 122,235 |
Consolidated Edison, Inc. | 3,883 | 254,919 |
Dominion Energy, Inc. | 5,274 | 360,320 |
DTE Energy Co. | 1,742 | 205,068 |
Duke Energy Corp. | 7,955 | 680,868 |
Edison International | 3,984 | 215,096 |
Entergy Corp. | 1,862 | 161,640 |
Essential Utilities, Inc. | 724 | 30,451 |
Evergy, Inc. | 2,908 | 155,956 |
Eversource Energy | 2,318 | 184,235 |
Exelon Corp. | 15,155 | 584,983 |
FirstEnergy Corp. | 7,094 | 235,095 |
Hawaiian Electric Industries, Inc. | 1,100 | 38,456 |
IDACORP, Inc. | 372 | 32,081 |
MDU Resources Group, Inc. | 2,569 | 72,189 |
MGE Energy, Inc. | 213 | 13,568 |
National Fuel Gas Co. | 850 | 38,624 |
New Jersey Resources Corp. | 865 | 33,986 |
NextEra Energy, Inc. | 8,417 | 618,481 |
NiSource, Inc. | 3,356 | 72,490 |
Northwest Natural Holding Co. | 261 | 12,525 |
NorthWestern Corp. | 527 | 30,819 |
NRG Energy, Inc. | 1,958 | 71,487 |
OGE Energy Corp. | 1,976 | 57,838 |
ONE Gas, Inc. | 409 | 27,391 |
Ormat Technologies, Inc. | 217 | 18,590 |
Otter Tail Corp. | 397 | 16,086 |
PG&E Corp. * | 19,496 | 204,903 |
Pinnacle West Capital Corp. | 1,250 | 87,413 |
PNM Resources, Inc. | 682 | 32,743 |
Portland General Electric Co. | 1,042 | 43,931 |
PPL Corp. | 9,697 | 253,964 |
Public Service Enterprise Group, Inc. | 5,264 | 283,361 |
Sempra Energy | 1,870 | 216,883 |
SJW Group | 139 | 8,713 |
South Jersey Industries, Inc. | 803 | 20,163 |
Southwest Gas Holdings, Inc. | 635 | 39,592 |
Spire, Inc. | 484 | 32,147 |
The AES Corp. | 12,170 | 323,235 |
The Southern Co. | 9,326 | 528,971 |
UGI Corp. | 3,035 | 116,271 |
Unitil Corp. | 186 | 7,782 |
Vistra Corp. | 6,360 | 109,710 |
WEC Energy Group, Inc. | 1,914 | 154,345 |
Xcel Energy, Inc. | 3,912 | 229,204 |
8,115,245 | ||
Total Common Stock | ||
(Cost $213,592,521) | 283,919,773 | |
Other Investment Companies 0.8% of net assets | ||
Equity Fund 0.1% | ||
iShares Core S&P Total U.S. Stock Market ETF | 3,000 | 266,130 |
Security | Number of Shares | Value ($) |
Money Market Fund 0.1% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (d) | 262,494 | 262,494 |
Securities Lending Collateral 0.6% | ||
Wells Fargo Government Money Market Fund, Select Class 0.03% (d) | 1,841,600 | 1,841,600 |
Total Other Investment Companies | ||
(Cost $2,360,848) | 2,370,224 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
Long | ||||||
S&P 500 Index, e-mini, expires 03/19/21 | 3 | 571,380 | (12,884) |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund’s investment adviser. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $1,688,800. |
(c) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees. |
(d) | The rate shown is the 7-day yield. |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
Value at 2/29/20 | Gross Purchases | Gross Sales | Realized Gains(Losses) | Net change in unrealized appreciation (depreciation) | Value at 2/28/21 | Balance of Shares Held at 2/28/21 | Dividends Received | |
The Charles Schwab Corp. | $159,373 | $117,673 | ($34,080) | $5,208 | $122,393 | $370,567 | 6,004 | $3,538 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $269,914,474 | $— | $— | $269,914,474 | |
Pharmaceuticals, Biotechnology & Life Sciences | 13,992,606 | — | 12,693 | 14,005,299 | |
Other Investment Companies1 | 2,370,224 | — | — | 2,370,224 | |
Liabilities | |||||
Futures Contracts2 | (12,884) | — | — | (12,884) | |
Total | $286,264,420 | $— | $12,693 | $286,277,113 |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments in affiliated issuer, at value (cost $224,086) | $370,567 | |
Investments in unaffiliated issuers, at value (cost $213,887,683) including securities on loan of $1,688,800 | 284,077,830 | |
Collateral invested for securities on loan, at value (cost $1,841,600) | 1,841,600 | |
Deposit with broker for futures contracts | 44,000 | |
Receivables: | ||
Investments sold | 26,099 | |
Dividends | 579,032 | |
Income from securities on loan | + | 4,525 |
Total assets | 286,943,653 | |
Liabilities | ||
Collateral held for securities on loan | 1,841,600 | |
Payables: | ||
Investments bought | 319,245 | |
Management fees | 54,247 | |
Variation margin on futures contracts | + | 2,820 |
Total liabilities | 2,217,912 | |
Net Assets | ||
Total assets | 286,943,653 | |
Total liabilities | – | 2,217,912 |
Net assets | $284,725,741 | |
Net Assets by Source | ||
Capital received from investors | 227,396,481 | |
Total distributable earnings | 57,329,260 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$284,725,741 | 5,900,000 | $48.26 | ||
Investment Income | ||
Dividends received from affiliated issuer | $3,538 | |
Dividends received from unaffiliated issuers (net of foreign withholding tax of $983) | 6,195,919 | |
Securities on loan, net | + | 89,351 |
Total investment income | 6,288,808 | |
Expenses | ||
Management fees | 600,045 | |
Total expenses | – | 600,045 |
Net investment income | 5,688,763 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on affiliated issuer | (2,120) | |
Net realized losses on unaffiliated issuers | (7,798,906) | |
Net realized gains on in-kind redemptions on affiliated issuer | 7,328 | |
Net realized gains on in-kind redemptions on unaffiliated issuers | 21,887,954 | |
Net realized gains on futures contracts | + | 17,863 |
Net realized gains | 14,112,119 | |
Net change in unrealized appreciation (depreciation) on affiliated issuer | 122,393 | |
Net change in unrealized appreciation (depreciation) on unaffiliated issuers | 48,048,436 | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | 65,694 |
Net change in unrealized appreciation (depreciation) | + | 48,236,523 |
Net realized and unrealized gains | 62,348,642 | |
Increase in net assets resulting from operations | $68,037,405 |
Operations | ||||
3/1/20-2/28/21 | 3/1/19-2/29/20 | |||
Net investment income | $5,688,763 | $6,810,274 | ||
Net realized gains | 14,112,119 | 8,716,290 | ||
Net change in unrealized appreciation (depreciation) | + | 48,236,523 | (10,833,909) | |
Increase in net assets resulting from operations | 68,037,405 | 4,692,655 | ||
Distributions to Shareholders | ||||
Total distributions | ($6,024,890) | ($6,831,860) |
Transactions in Fund Shares | ||||||||
3/1/20-2/28/21 | 3/1/19-2/29/20 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 500,000 | $20,303,160 | 450,000 | $17,693,623 | ||||
Shares redeemed | + | (1,650,000) | (59,607,587) | (750,000) | (29,918,728) | |||
Net transactions in fund shares | (1,150,000) | ($39,304,427) | (300,000) | ($12,225,105) | ||||
Shares Outstanding and Net Assets | ||||||||
3/1/20-2/28/21 | 3/1/19-2/29/20 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 7,050,000 | $262,017,653 | 7,350,000 | $276,381,963 | ||||
Total increase (decrease) | + | (1,150,000) | 22,708,088 | (300,000) | (14,364,310) | |||
End of period | 5,900,000 | $284,725,741 | 7,050,000 | $262,017,653 |
3/1/20– 2/28/21 | 3/1/19– 2/29/20 | 3/1/18– 2/28/19 | 3/1/17– 2/28/18 | 3/1/16– 2/28/17 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $37.67 | $37.83 | $37.20 | $33.91 | $27.57 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.98 | 0.99 | 0.87 | 0.78 | 0.70 | |
Net realized and unrealized gains (losses) | 10.88 | (0.20) | 0.57 | 3.21 | 6.29 | |
Total from investment operations | 11.86 | 0.79 | 1.44 | 3.99 | 6.99 | |
Less distributions: | ||||||
Distributions from net investment income | (1.04) | (0.95) | (0.81) | (0.70) | (0.65) | |
Net asset value at end of period | $48.49 | $37.67 | $37.83 | $37.20 | $33.91 | |
Total return | 32.40% | 1.98% | 3.92% | 11.91% | 25.66% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.25% | 0.25% | 0.25% | 0.25% | 0.32% | |
Net investment income (loss) | 2.49% | 2.47% | 2.33% | 2.22% | 2.26% | |
Portfolio turnover rate2 | 13% | 12% | 11% | 9% | 10% | |
Net assets, end of period (x 1,000) | $5,862,523 | $5,557,983 | $4,596,260 | $4,016,040 | $2,197,623 | |
Security | Number of Shares | Value ($) |
Common Stock 99.8% of net assets | ||
Automobiles & Components 2.4% | ||
Adient plc * | 112,306 | 4,164,306 |
American Axle & Manufacturing Holdings, Inc. * | 134,214 | 1,311,271 |
Aptiv plc * | 56,496 | 8,465,361 |
Autoliv, Inc. * | 32,078 | 2,887,020 |
BorgWarner, Inc. | 116,380 | 5,237,100 |
Cooper Tire & Rubber Co. | 36,589 | 2,094,354 |
Dana, Inc. | 85,131 | 2,026,969 |
Ford Motor Co. * | 3,617,719 | 42,327,312 |
General Motors Co. | 892,414 | 45,807,611 |
Gentex Corp. | 57,173 | 2,022,781 |
Harley-Davidson, Inc. | 69,068 | 2,463,656 |
Lear Corp. | 38,306 | 6,362,243 |
The Goodyear Tire & Rubber Co. * | 485,641 | 8,163,625 |
Thor Industries, Inc. | 21,536 | 2,521,004 |
Visteon Corp. * | 28,558 | 3,631,721 |
139,486,334 | ||
Banks 6.9% | ||
Bank of America Corp. | 1,643,657 | 57,051,334 |
CIT Group, Inc. | 94,349 | 4,278,727 |
Citigroup, Inc. | 949,823 | 62,574,339 |
Citizens Financial Group, Inc. | 156,879 | 6,814,824 |
Comerica, Inc. | 54,868 | 3,736,511 |
Credicorp Ltd. | 13,520 | 2,163,335 |
Fifth Third Bancorp | 269,878 | 9,362,068 |
First Republic Bank | 10,662 | 1,756,565 |
Huntington Bancshares, Inc. | 232,060 | 3,559,800 |
JPMorgan Chase & Co. | 692,250 | 101,878,433 |
KeyCorp | 230,462 | 4,641,505 |
M&T Bank Corp. | 38,949 | 5,878,962 |
New York Community Bancorp, Inc. | 135,134 | 1,649,986 |
PacWest Bancorp | 46,369 | 1,680,413 |
People's United Financial, Inc. | 81,446 | 1,461,141 |
Regions Financial Corp. | 265,379 | 5,474,769 |
The PNC Financial Services Group, Inc. | 109,218 | 18,387,942 |
Truist Financial Corp. | 183,296 | 10,440,540 |
U.S. Bancorp | 401,191 | 20,059,550 |
Wells Fargo & Co. | 2,206,265 | 79,800,605 |
Zions Bancorp NA | 36,679 | 1,950,222 |
404,601,571 | ||
Capital Goods 8.1% | ||
3M Co. | 137,119 | 24,004,052 |
A.O. Smith Corp. | 25,855 | 1,535,011 |
Acuity Brands, Inc. | 13,661 | 1,684,401 |
AECOM * | 57,202 | 3,311,424 |
AerCap Holdings N.V. * | 67,041 | 3,230,035 |
AGCO Corp. | 29,824 | 3,861,611 |
Allison Transmission Holdings, Inc. | 43,656 | 1,655,436 |
AMETEK, Inc. | 25,396 | 2,995,966 |
Carlisle Cos., Inc. | 12,397 | 1,800,664 |
Security | Number of Shares | Value ($) |
Carrier Global Corp. | 126,544 | 4,622,652 |
Caterpillar, Inc. | 120,247 | 25,958,922 |
Cummins, Inc. | 44,324 | 11,222,837 |
Curtiss-Wright Corp. | 9,351 | 1,033,192 |
Deere & Co. | 60,482 | 21,115,476 |
Donaldson Co., Inc. | 24,729 | 1,456,785 |
Dover Corp. | 27,686 | 3,412,576 |
Eaton Corp. plc | 109,676 | 14,278,718 |
EMCOR Group, Inc. | 22,052 | 2,147,203 |
Emerson Electric Co. | 155,674 | 13,372,397 |
Fastenal Co. | 69,222 | 3,209,824 |
Flowserve Corp. | 44,346 | 1,640,802 |
Fluor Corp. * | 342,394 | 5,875,481 |
Fortive Corp. | 30,735 | 2,022,978 |
Fortune Brands Home & Security, Inc. | 30,818 | 2,562,208 |
GATX Corp. | 15,647 | 1,493,193 |
General Dynamics Corp. | 78,629 | 12,853,483 |
General Electric Co. | 4,509,659 | 56,551,124 |
Graco, Inc. | 18,196 | 1,261,893 |
Hexcel Corp. * | 26,882 | 1,445,176 |
Honeywell International, Inc. | 109,885 | 22,235,230 |
Howmet Aerospace, Inc. * | 128,174 | 3,602,971 |
Hubbell, Inc. | 11,762 | 2,087,873 |
Huntington Ingalls Industries, Inc. | 13,318 | 2,342,769 |
IDEX Corp. | 8,199 | 1,600,199 |
Illinois Tool Works, Inc. | 56,604 | 11,444,197 |
ITT, Inc. | 16,321 | 1,354,317 |
Johnson Controls International plc | 200,627 | 11,192,980 |
L3Harris Technologies, Inc. | 14,327 | 2,606,225 |
Lennox International, Inc. | 4,297 | 1,202,172 |
Lincoln Electric Holdings, Inc. | 14,344 | 1,694,170 |
Lockheed Martin Corp. | 33,380 | 11,023,745 |
Masco Corp. | 41,939 | 2,231,994 |
MSC Industrial Direct Co., Inc., Class A | 16,556 | 1,425,968 |
Nordson Corp. | 5,847 | 1,125,021 |
Northrop Grumman Corp. | 29,354 | 8,561,388 |
Oshkosh Corp. | 24,608 | 2,608,448 |
Otis Worldwide Corp. | 72,716 | 4,632,736 |
Owens Corning | 38,744 | 3,139,039 |
PACCAR, Inc. | 89,992 | 8,188,372 |
Parker-Hannifin Corp. | 24,284 | 6,968,537 |
Pentair plc | 35,794 | 2,001,958 |
Quanta Services, Inc. | 55,002 | 4,611,918 |
Raytheon Technologies Corp. | 385,147 | 27,726,733 |
Regal Beloit Corp. | 13,193 | 1,803,087 |
Resideo Technologies, Inc. * | 100,855 | 2,422,537 |
Rockwell Automation, Inc. | 17,410 | 4,235,505 |
Roper Technologies, Inc. | 6,080 | 2,295,930 |
Sensata Technologies Holding plc * | 29,141 | 1,669,488 |
Snap-on, Inc. | 14,602 | 2,965,812 |
Spirit AeroSystems Holdings, Inc., Class A | 86,781 | 3,716,830 |
Stanley Black & Decker, Inc. | 27,727 | 4,847,789 |
Textron, Inc. | 100,823 | 5,075,430 |
The Boeing Co. * | 144,269 | 30,586,471 |
The Timken Co. | 20,031 | 1,569,429 |
The Toro Co. | 14,212 | 1,432,143 |
Trane Technologies plc | 48,002 | 7,355,826 |
TransDigm Group, Inc. * | 5,644 | 3,254,725 |
Security | Number of Shares | Value ($) |
Trinity Industries, Inc. | 52,962 | 1,700,080 |
UFP Industries, Inc. | 20,153 | 1,229,333 |
United Rentals, Inc. * | 26,860 | 7,987,627 |
Univar Solutions, Inc. * | 65,464 | 1,303,388 |
Valmont Industries, Inc. | 8,245 | 1,950,190 |
W.W. Grainger, Inc. | 10,670 | 3,976,816 |
Watsco, Inc. | 6,946 | 1,688,573 |
WESCO International, Inc. * | 54,681 | 4,389,791 |
Westinghouse Air Brake Technologies Corp. | 18,066 | 1,308,520 |
Xylem, Inc. | 20,446 | 2,035,604 |
478,025,404 | ||
Commercial & Professional Services 0.8% | ||
ABM Industries, Inc. | 27,884 | 1,204,031 |
Booz Allen Hamilton Holding Corp. | 16,191 | 1,248,974 |
CACI International, Inc., Class A * | 4,309 | 953,754 |
Cintas Corp. | 8,652 | 2,806,190 |
CoreCivic, Inc. | 107,404 | 771,161 |
Equifax, Inc. | 11,813 | 1,912,288 |
IHS Markit Ltd. | 23,954 | 2,159,693 |
Jacobs Engineering Group, Inc. | 31,501 | 3,625,135 |
Leidos Holdings, Inc. | 26,234 | 2,320,397 |
ManpowerGroup, Inc. | 51,233 | 4,838,445 |
Nielsen Holdings plc | 203,775 | 4,566,598 |
Pitney Bowes, Inc. | 272,207 | 2,308,315 |
Republic Services, Inc. | 34,593 | 3,081,890 |
Robert Half International, Inc. | 41,862 | 3,256,445 |
Science Applications International Corp. | 11,878 | 1,023,052 |
Verisk Analytics, Inc. | 8,349 | 1,367,984 |
Waste Management, Inc. | 67,799 | 7,518,231 |
44,962,583 | ||
Consumer Durables & Apparel 1.6% | ||
Brunswick Corp. | 21,561 | 1,905,345 |
Capri Holdings Ltd. * | 138,047 | 6,442,653 |
Carter's, Inc. | 15,785 | 1,317,574 |
D.R. Horton, Inc. | 63,697 | 4,896,388 |
Garmin Ltd. | 19,041 | 2,361,465 |
Hanesbrands, Inc. | 138,363 | 2,447,641 |
Hasbro, Inc. | 25,198 | 2,361,305 |
Leggett & Platt, Inc. | 42,145 | 1,823,614 |
Lennar Corp., Class A | 46,254 | 3,837,694 |
Lululemon Athletica, Inc. * | 4,959 | 1,545,621 |
Mattel, Inc. * | 132,347 | 2,673,409 |
Mohawk Industries, Inc. * | 26,722 | 4,676,083 |
Newell Brands, Inc. | 120,293 | 2,787,189 |
NIKE, Inc., Class B | 128,646 | 17,338,908 |
NVR, Inc. * | 633 | 2,849,032 |
Polaris, Inc. | 18,021 | 2,122,153 |
PulteGroup, Inc. | 76,682 | 3,459,125 |
PVH Corp. | 48,203 | 4,818,372 |
Ralph Lauren Corp. | 25,809 | 3,021,718 |
Skechers U.S.A., Inc., Class A * | 34,097 | 1,247,950 |
Tapestry, Inc. | 139,643 | 5,884,556 |
Taylor Morrison Home Corp., Class A * | 52,960 | 1,456,930 |
Toll Brothers, Inc. | 42,441 | 2,267,198 |
Under Armour, Inc., Class A * | 45,576 | 997,659 |
Under Armour, Inc., Class C * | 45,890 | 835,198 |
VF Corp. | 63,552 | 5,028,870 |
Whirlpool Corp. | 28,373 | 5,393,140 |
95,796,790 | ||
Security | Number of Shares | Value ($) |
Consumer Services 1.9% | ||
Aramark | 86,578 | 3,213,775 |
Carnival Corp. * | 369,846 | 9,893,381 |
Chipotle Mexican Grill, Inc. * | 1,924 | 2,774,408 |
Cracker Barrel Old Country Store, Inc. | 8,247 | 1,277,213 |
Darden Restaurants, Inc. | 28,731 | 3,945,628 |
Domino's Pizza, Inc. | 4,478 | 1,551,672 |
Extended Stay America, Inc. | 91,958 | 1,479,604 |
H&R Block, Inc. | 79,333 | 1,525,574 |
Hilton Worldwide Holdings, Inc. * | 28,318 | 3,502,370 |
Las Vegas Sands Corp. | 89,533 | 5,604,766 |
Marriott International, Inc., Class A * | 38,475 | 5,696,993 |
McDonald's Corp. | 113,251 | 23,345,561 |
MGM Resorts International | 143,978 | 5,440,929 |
Norwegian Cruise Line Holdings Ltd. * | 118,409 | 3,500,170 |
Royal Caribbean Cruises Ltd. | 63,015 | 5,877,409 |
Service Corp. International | 24,270 | 1,159,135 |
Six Flags Entertainment Corp. | 44,220 | 1,972,212 |
Starbucks Corp. | 158,584 | 17,131,830 |
The Wendy's Co. | 50,841 | 1,038,682 |
Travel & Leisure Co. | 35,208 | 2,127,619 |
Wynn Resorts Ltd. * | 20,900 | 2,753,157 |
Yum China Holdings, Inc. | 54,619 | 3,268,401 |
Yum! Brands, Inc. | 59,053 | 6,113,757 |
114,194,246 | ||
Diversified Financials 5.8% | ||
Affiliated Managers Group, Inc. | 20,167 | 2,822,775 |
Ally Financial, Inc. | 257,888 | 10,702,352 |
American Express Co. | 167,974 | 22,720,163 |
Ameriprise Financial, Inc. | 40,977 | 9,065,752 |
Annaly Capital Management, Inc. | 203,804 | 1,693,611 |
Berkshire Hathaway, Inc., Class B * | 303,010 | 72,876,935 |
BlackRock, Inc. | 13,848 | 9,617,436 |
Capital One Financial Corp. | 248,380 | 29,852,792 |
Chimera Investment Corp. | 95,558 | 1,102,739 |
CME Group, Inc. | 23,065 | 4,606,081 |
Discover Financial Services | 178,820 | 16,821,597 |
Equitable Holdings, Inc. | 105,599 | 3,122,562 |
Evercore, Inc., Class A | 14,757 | 1,767,446 |
Franklin Resources, Inc. | 211,995 | 5,547,909 |
Intercontinental Exchange, Inc. | 39,004 | 4,302,531 |
Invesco Ltd. | 239,960 | 5,379,903 |
Jefferies Financial Group, Inc. | 76,346 | 2,217,088 |
Lazard Ltd., Class A | 40,914 | 1,582,963 |
LPL Financial Holdings, Inc. | 17,293 | 2,274,721 |
Moody's Corp. | 10,303 | 2,832,192 |
Morgan Stanley | 286,494 | 22,022,794 |
MSCI, Inc. | 3,508 | 1,454,136 |
Nasdaq, Inc. | 9,793 | 1,354,274 |
Navient Corp. | 227,486 | 2,816,277 |
New Residential Investment Corp. | 170,553 | 1,753,285 |
Northern Trust Corp. | 33,452 | 3,182,289 |
PROG Holdings, Inc. | 24,917 | 1,245,850 |
Raymond James Financial, Inc. | 18,527 | 2,162,842 |
S&P Global, Inc. | 14,767 | 4,863,659 |
Santander Consumer USA Holdings, Inc. | 58,191 | 1,454,775 |
SEI Investments Co. | 22,166 | 1,241,296 |
Starwood Property Trust, Inc. | 64,413 | 1,470,549 |
State Street Corp. | 77,680 | 5,652,774 |
Synchrony Financial | 367,088 | 14,198,964 |
T. Rowe Price Group, Inc. | 43,901 | 7,118,108 |
The Bank of New York Mellon Corp. | 265,359 | 11,187,535 |
The Charles Schwab Corp. (a) | 136,150 | 8,403,178 |
Security | Number of Shares | Value ($) |
The Goldman Sachs Group, Inc. | 101,407 | 32,397,508 |
Voya Financial, Inc. | 63,908 | 3,852,374 |
338,742,015 | ||
Energy 8.8% | ||
Antero Resources Corp. * | 529,820 | 4,768,380 |
APA Corp. | 216,453 | 4,270,618 |
Baker Hughes Co. | 454,492 | 11,125,964 |
Cabot Oil & Gas Corp. | 61,227 | 1,133,312 |
Chevron Corp. | 808,419 | 80,841,900 |
ConocoPhillips | 507,751 | 26,408,129 |
Delek US Holdings, Inc. | 74,331 | 1,825,569 |
Devon Energy Corp. | 244,016 | 5,256,105 |
EOG Resources, Inc. | 140,660 | 9,081,010 |
Exxon Mobil Corp. | 2,636,722 | 143,358,575 |
Halliburton Co. | 403,039 | 8,798,341 |
Helmerich & Payne, Inc. | 91,868 | 2,639,368 |
Hess Corp. | 72,908 | 4,777,661 |
HollyFrontier Corp. | 164,873 | 6,245,389 |
Kinder Morgan, Inc. | 617,905 | 9,083,203 |
Marathon Oil Corp. | 631,453 | 7,009,128 |
Marathon Petroleum Corp. | 482,195 | 26,337,491 |
Murphy Oil Corp. | 149,302 | 2,438,102 |
Nabors Industries Ltd. (b) | 30,571 | 3,393,687 |
NOV, Inc. | 411,960 | 6,220,596 |
Occidental Petroleum Corp. | 701,021 | 18,654,169 |
Oceaneering International, Inc. * | 179,613 | 2,119,433 |
ONEOK, Inc. | 118,161 | 5,233,351 |
Patterson-UTI Energy, Inc. | 267,504 | 1,979,530 |
PBF Energy, Inc., Class A * | 290,571 | 4,126,108 |
Peabody Energy Corp. * | 446,547 | 1,920,152 |
Phillips 66 | 378,232 | 31,412,168 |
Pioneer Natural Resources Co. | 33,252 | 4,940,250 |
Schlumberger N.V. | 829,435 | 23,149,531 |
SM Energy Co. | 269,881 | 3,740,551 |
Targa Resources Corp. | 125,278 | 3,874,848 |
The Williams Cos., Inc. | 280,564 | 6,408,082 |
Transocean Ltd. * | 1,037,054 | 3,598,577 |
Valero Energy Corp. | 434,243 | 33,428,026 |
World Fuel Services Corp. | 155,836 | 4,843,383 |
514,440,687 | ||
Food & Staples Retailing 2.7% | ||
Casey's General Stores, Inc. | 10,515 | 2,123,609 |
Costco Wholesale Corp. | 70,753 | 23,419,243 |
Performance Food Group Co. * | 47,639 | 2,583,939 |
Rite Aid Corp. * | 160,551 | 3,143,589 |
SpartanNash Co. | 72,154 | 1,315,367 |
Sprouts Farmers Market, Inc. * | 52,925 | 1,117,247 |
Sysco Corp. | 115,875 | 9,227,126 |
The Kroger Co. | 521,980 | 16,812,976 |
United Natural Foods, Inc. * | 172,302 | 4,557,388 |
US Foods Holding Corp. * | 146,110 | 5,327,171 |
Walgreens Boots Alliance, Inc. | 623,389 | 29,879,035 |
Walmart, Inc. | 461,898 | 60,009,788 |
159,516,478 | ||
Food, Beverage & Tobacco 3.6% | ||
Altria Group, Inc. | 527,074 | 22,980,426 |
Archer-Daniels-Midland Co. | 415,274 | 23,496,203 |
Brown-Forman Corp., Class B | 22,191 | 1,588,432 |
Bunge Ltd. | 158,973 | 12,174,152 |
Campbell Soup Co. | 32,036 | 1,456,997 |
Coca-Cola European Partners plc | 53,271 | 2,714,157 |
Conagra Brands, Inc. | 81,011 | 2,748,703 |
Security | Number of Shares | Value ($) |
Constellation Brands, Inc., Class A | 18,752 | 4,015,553 |
Darling Ingredients, Inc. * | 34,853 | 2,197,133 |
Flowers Foods, Inc. | 51,843 | 1,127,585 |
General Mills, Inc. | 118,361 | 6,511,039 |
Hormel Foods Corp. | 46,736 | 2,167,148 |
Ingredion, Inc. | 30,421 | 2,743,974 |
Kellogg Co. | 50,066 | 2,889,309 |
McCormick & Co., Inc. Non-Voting Shares | 17,960 | 1,513,669 |
Molson Coors Beverage Co., Class B | 73,022 | 3,245,828 |
Mondelez International, Inc., Class A | 279,055 | 14,834,564 |
Monster Beverage Corp. * | 29,294 | 2,570,256 |
PepsiCo, Inc. | 205,671 | 26,570,637 |
Philip Morris International, Inc. | 323,447 | 27,176,017 |
Sanderson Farms, Inc. | 9,943 | 1,516,308 |
The Coca-Cola Co. | 503,913 | 24,686,698 |
The Hershey Co. | 19,477 | 2,836,825 |
The J.M. Smucker Co. | 31,929 | 3,576,048 |
The Kraft Heinz Co. | 204,824 | 7,451,497 |
Tyson Foods, Inc., Class A | 128,423 | 8,690,384 |
213,479,542 | ||
Health Care Equipment & Services 5.2% | ||
Abbott Laboratories | 134,866 | 16,154,250 |
AmerisourceBergen Corp. | 50,186 | 5,079,827 |
Anthem, Inc. | 78,307 | 23,741,899 |
Baxter International, Inc. | 56,454 | 4,385,911 |
Becton Dickinson & Co. | 20,566 | 4,959,491 |
Boston Scientific Corp. * | 69,393 | 2,691,061 |
Cardinal Health, Inc. | 196,680 | 10,132,954 |
Centene Corp. * | 97,043 | 5,680,897 |
Cerner Corp. | 45,098 | 3,118,076 |
Cigna Corp. | 41,424 | 8,694,898 |
CVS Health Corp. | 575,763 | 39,226,733 |
Danaher Corp. | 36,484 | 8,014,440 |
DaVita, Inc. * | 39,383 | 4,022,186 |
DENTSPLY SIRONA, Inc. | 37,463 | 1,988,161 |
Edwards Lifesciences Corp. * | 20,172 | 1,676,293 |
Encompass Health Corp. | 16,460 | 1,324,042 |
HCA Healthcare, Inc. | 72,917 | 12,543,912 |
Henry Schein, Inc. * | 39,399 | 2,436,828 |
Hologic, Inc. * | 25,416 | 1,832,239 |
Humana, Inc. | 34,069 | 12,934,296 |
Intuitive Surgical, Inc. * | 3,883 | 2,860,994 |
Laboratory Corp. of America Holdings * | 16,679 | 4,001,459 |
Magellan Health, Inc. * | 14,835 | 1,384,402 |
McKesson Corp. | 98,307 | 16,665,003 |
MEDNAX, Inc. * | 84,256 | 2,058,374 |
Medtronic plc | 210,170 | 24,583,585 |
Molina Healthcare, Inc. * | 9,226 | 1,999,828 |
Owens & Minor, Inc. | 97,679 | 3,322,063 |
Patterson Cos., Inc. | 57,427 | 1,783,683 |
Quest Diagnostics, Inc. | 31,533 | 3,644,900 |
ResMed, Inc. | 7,785 | 1,500,792 |
STERIS plc | 7,519 | 1,314,321 |
Stryker Corp. | 27,061 | 6,567,434 |
Tenet Healthcare Corp. * | 67,203 | 3,428,697 |
The Cooper Cos., Inc. | 3,310 | 1,278,090 |
UnitedHealth Group, Inc. | 152,993 | 50,827,334 |
Universal Health Services, Inc., Class B * | 29,108 | 3,648,106 |
Varian Medical Systems, Inc. * | 10,296 | 1,804,580 |
Zimmer Biomet Holdings, Inc. | 22,054 | 3,596,125 |
306,908,164 | ||
Household & Personal Products 1.2% | ||
Church & Dwight Co., Inc. | 27,721 | 2,183,029 |
Colgate-Palmolive Co. | 107,755 | 8,103,176 |
Security | Number of Shares | Value ($) |
Kimberly-Clark Corp. | 41,903 | 5,377,412 |
Nu Skin Enterprises, Inc., Class A | 27,383 | 1,401,462 |
The Clorox Co. | 12,991 | 2,352,021 |
The Estee Lauder Cos., Inc., Class A | 16,997 | 4,858,762 |
The Procter & Gamble Co. | 358,510 | 44,286,740 |
68,562,602 | ||
Insurance 3.6% | ||
Aflac, Inc. | 229,715 | 11,001,051 |
Alleghany Corp. | 3,154 | 2,038,840 |
American Financial Group, Inc. | 17,983 | 1,918,786 |
American International Group, Inc. | 759,837 | 33,394,836 |
Aon plc, Class A | 34,584 | 7,875,123 |
Arch Capital Group Ltd. * | 46,018 | 1,648,365 |
Arthur J. Gallagher & Co. | 18,534 | 2,220,373 |
Assurant, Inc. | 10,595 | 1,305,516 |
Assured Guaranty Ltd. | 70,841 | 3,132,589 |
Athene Holding Ltd., Class A * | 30,074 | 1,371,074 |
Axis Capital Holdings Ltd. | 27,244 | 1,376,639 |
Chubb Ltd. | 76,761 | 12,479,803 |
Cincinnati Financial Corp. | 27,211 | 2,663,141 |
CNO Financial Group, Inc. | 82,571 | 1,986,658 |
Everest Re Group Ltd. | 10,427 | 2,521,353 |
Fidelity National Financial, Inc. | 71,551 | 2,738,972 |
First American Financial Corp. | 28,492 | 1,496,970 |
Genworth Financial, Inc., Class A * | 388,293 | 1,211,474 |
Globe Life, Inc. | 21,520 | 2,009,968 |
Lincoln National Corp. | 95,480 | 5,429,948 |
Loews Corp. | 101,621 | 4,858,500 |
Markel Corp. * | 1,368 | 1,489,478 |
Marsh & McLennan Cos., Inc. | 64,932 | 7,481,465 |
MetLife, Inc. | 298,546 | 17,196,250 |
Old Republic International Corp. | 88,993 | 1,720,235 |
Primerica, Inc. | 8,255 | 1,165,854 |
Principal Financial Group, Inc. | 85,935 | 4,862,202 |
Prudential Financial, Inc. | 175,987 | 15,261,593 |
Reinsurance Group of America, Inc. | 20,919 | 2,556,929 |
RenaissanceRe Holdings Ltd. | 5,783 | 965,645 |
The Allstate Corp. | 105,100 | 11,203,660 |
The Hartford Financial Services Group, Inc. | 107,982 | 5,473,608 |
The Progressive Corp. | 69,900 | 6,007,905 |
The Travelers Cos., Inc. | 141,841 | 20,637,865 |
Unum Group | 120,920 | 3,201,962 |
W.R. Berkley Corp. | 27,208 | 1,886,331 |
Willis Towers Watson plc | 11,747 | 2,591,858 |
208,382,819 | ||
Materials 3.5% | ||
Air Products and Chemicals, Inc. | 20,728 | 5,298,491 |
Albemarle Corp. | 19,708 | 3,098,295 |
Alcoa Corp. * | 219,712 | 5,393,930 |
AptarGroup, Inc. | 8,669 | 1,127,577 |
Arconic Corp. * | 29,709 | 651,221 |
Ashland Global Holdings, Inc. | 15,230 | 1,281,148 |
Avery Dennison Corp. | 15,398 | 2,697,884 |
Ball Corp. | 28,407 | 2,425,674 |
Berry Global Group, Inc. * | 28,474 | 1,577,460 |
Celanese Corp. | 30,700 | 4,264,537 |
CF Industries Holdings, Inc. | 78,740 | 3,565,347 |
Commercial Metals Co. | 65,964 | 1,658,995 |
Corteva, Inc. | 100,027 | 4,516,219 |
Crown Holdings, Inc. * | 18,229 | 1,741,963 |
Domtar Corp. | 63,998 | 2,371,126 |
Dow, Inc. | 93,378 | 5,538,249 |
DuPont de Nemours, Inc. | 281,862 | 19,820,536 |
Security | Number of Shares | Value ($) |
Eastman Chemical Co. | 56,129 | 6,132,655 |
Ecolab, Inc. | 27,903 | 5,841,772 |
Freeport-McMoRan, Inc. * | 259,912 | 8,813,616 |
Graphic Packaging Holding Co. | 97,829 | 1,552,546 |
Huntsman Corp. | 107,636 | 2,938,463 |
International Flavors & Fragrances, Inc. | 12,978 | 1,758,649 |
International Paper Co. | 174,993 | 8,688,402 |
Linde plc | 56,552 | 13,813,957 |
LyondellBasell Industries N.V., Class A | 154,932 | 15,971,940 |
Martin Marietta Materials, Inc. | 9,402 | 3,167,252 |
Newmont Corp. | 58,068 | 3,157,738 |
Nucor Corp. | 167,899 | 10,043,718 |
O-I Glass, Inc. * | 139,552 | 1,629,967 |
Olin Corp. | 103,468 | 3,201,300 |
Packaging Corp. of America | 24,911 | 3,288,750 |
PPG Industries, Inc. | 60,610 | 8,171,440 |
Reliance Steel & Aluminum Co. | 33,320 | 4,404,904 |
RPM International, Inc. | 19,189 | 1,528,212 |
Sealed Air Corp. | 58,240 | 2,440,256 |
Sonoco Products Co. | 29,769 | 1,773,339 |
Steel Dynamics, Inc. | 103,483 | 4,302,823 |
The Chemours Co. | 81,363 | 1,914,471 |
The Mosaic Co. | 279,288 | 8,211,067 |
The Sherwin-Williams Co. | 6,262 | 4,260,289 |
United States Steel Corp. | 291,650 | 4,844,306 |
Vulcan Materials Co. | 15,740 | 2,628,423 |
Westrock Co. | 150,144 | 6,544,777 |
208,053,684 | ||
Media & Entertainment 4.8% | ||
Activision Blizzard, Inc. | 53,675 | 5,131,867 |
Alphabet, Inc., Class A * | 18,096 | 36,588,483 |
Alphabet, Inc., Class C * | 18,117 | 36,901,793 |
Altice USA, Inc., Class A * | 83,076 | 2,792,184 |
Charter Communications, Inc., Class A * | 18,195 | 11,161,177 |
Cinemark Holdings, Inc. | 66,176 | 1,485,651 |
Comcast Corp., Class A | 929,052 | 48,979,621 |
Discovery, Inc., Class A * | 39,213 | 2,079,465 |
Discovery, Inc., Class C * | 86,845 | 3,908,025 |
DISH Network Corp., Class A * | 60,354 | 1,901,755 |
Electronic Arts, Inc. | 28,356 | 3,798,853 |
Facebook, Inc., Class A * | 104,009 | 26,794,799 |
Fox Corp., Class A | 94,169 | 3,136,769 |
Fox Corp., Class B | 42,890 | 1,369,478 |
IAC/InterActiveCorp * | 5,902 | 1,444,987 |
Liberty Media Corp. - Liberty SiriusXM, Class A * | 38,644 | 1,716,180 |
Liberty Media Corp. - Liberty SiriusXM, Class C * | 70,063 | 3,091,180 |
Netflix, Inc. * | 3,318 | 1,787,904 |
News Corp., Class A | 130,806 | 3,067,401 |
News Corp., Class B | 41,201 | 944,327 |
Omnicom Group, Inc. | 64,159 | 4,409,648 |
The Interpublic Group of Cos., Inc. | 101,794 | 2,658,859 |
The Walt Disney Co. * | 308,741 | 58,364,399 |
ViacomCBS, Inc., Class B | 262,965 | 16,958,613 |
280,473,418 | ||
Pharmaceuticals, Biotechnology & Life Sciences 5.2% | ||
AbbVie, Inc. | 320,716 | 34,553,942 |
Agilent Technologies, Inc. | 26,380 | 3,220,207 |
Alexion Pharmaceuticals, Inc. * | 18,590 | 2,839,622 |
Amgen, Inc. | 112,774 | 25,365,128 |
Biogen, Inc. * | 28,663 | 7,821,559 |
Bristol-Myers Squibb Co. | 197,335 | 12,102,556 |
Eli Lilly and Co. | 63,891 | 13,090,627 |
Security | Number of Shares | Value ($) |
Gilead Sciences, Inc. | 457,727 | 28,104,438 |
ICON plc * | 6,103 | 1,102,690 |
Illumina, Inc. * | 4,878 | 2,143,442 |
IQVIA Holdings, Inc. * | 24,213 | 4,668,024 |
Jazz Pharmaceuticals plc * | 9,344 | 1,570,166 |
Johnson & Johnson | 399,040 | 63,231,878 |
Merck & Co., Inc. | 433,345 | 31,469,514 |
Mettler-Toledo International, Inc. * | 1,852 | 2,066,925 |
Perrigo Co., plc | 25,912 | 1,045,808 |
Pfizer, Inc. | 1,379,917 | 46,213,420 |
Regeneron Pharmaceuticals, Inc. * | 4,448 | 2,004,135 |
Thermo Fisher Scientific, Inc. | 23,185 | 10,435,105 |
United Therapeutics Corp. * | 14,544 | 2,431,466 |
Viatris, Inc. * | 363,196 | 5,393,461 |
Waters Corp. * | 9,107 | 2,494,225 |
Zoetis, Inc. | 19,737 | 3,063,972 |
306,432,310 | ||
Real Estate 2.0% | ||
Alexandria Real Estate Equities, Inc. | 6,455 | 1,030,799 |
American Tower Corp. | 20,931 | 4,523,817 |
Apple Hospitality REIT, Inc. | 95,254 | 1,357,370 |
AvalonBay Communities, Inc. | 14,896 | 2,617,972 |
Boston Properties, Inc. | 28,058 | 2,781,390 |
Brixmor Property Group, Inc. | 94,456 | 1,858,894 |
Camden Property Trust | 11,190 | 1,165,439 |
CBRE Group, Inc., Class A * | 64,542 | 4,890,347 |
Colony Capital, Inc. | 438,811 | 2,597,761 |
Crown Castle International Corp. | 30,254 | 4,712,061 |
Digital Realty Trust, Inc. | 63,033 | 8,492,436 |
Diversified Healthcare Trust | 269,759 | 1,213,916 |
Duke Realty Corp. | 30,863 | 1,211,373 |
Equinix, Inc. | 4,609 | 2,988,199 |
Equity Residential | 50,383 | 3,295,552 |
Essex Property Trust, Inc. | 6,223 | 1,585,558 |
Extra Space Storage, Inc. | 10,668 | 1,340,968 |
Healthpeak Properties, Inc. | 74,843 | 2,177,183 |
Host Hotels & Resorts, Inc. | 299,399 | 4,967,029 |
Iron Mountain, Inc. | 89,379 | 3,109,495 |
Jones Lang LaSalle, Inc. * | 18,032 | 3,137,207 |
Kimco Realty Corp. | 91,219 | 1,672,044 |
Lamar Advertising Co., Class A | 14,643 | 1,267,937 |
Mid-America Apartment Communities, Inc. | 11,611 | 1,564,350 |
Outfront Media, Inc. | 58,979 | 1,196,094 |
Park Hotels & Resorts, Inc. | 142,822 | 3,106,379 |
Prologis, Inc. | 31,413 | 3,112,086 |
Public Storage | 12,608 | 2,949,516 |
Realogy Holdings Corp. * | 206,352 | 3,111,788 |
Realty Income Corp. | 22,320 | 1,345,003 |
Service Properties Trust | 159,136 | 2,043,306 |
Simon Property Group, Inc. | 75,702 | 8,548,270 |
SL Green Realty Corp. | 28,176 | 1,946,116 |
The Macerich Co. | 132,559 | 1,712,662 |
UDR, Inc. | 28,131 | 1,158,153 |
Ventas, Inc. | 90,790 | 4,802,791 |
VEREIT, Inc. | 48,214 | 1,880,346 |
Vornado Realty Trust | 40,480 | 1,738,211 |
Welltower, Inc. | 79,475 | 5,396,352 |
Weyerhaeuser Co. | 199,147 | 6,745,109 |
WP Carey, Inc. | 15,289 | 1,047,908 |
117,399,187 | ||
Retailing 6.2% | ||
Abercrombie & Fitch Co., Class A | 83,889 | 2,296,042 |
Advance Auto Parts, Inc. | 17,034 | 2,731,402 |
Security | Number of Shares | Value ($) |
Amazon.com, Inc. * | 8,825 | 27,295,107 |
American Eagle Outfitters, Inc. | 128,881 | 3,312,242 |
Asbury Automotive Group, Inc. * | 10,922 | 1,850,733 |
AutoNation, Inc. * | 34,462 | 2,585,339 |
AutoZone, Inc. * | 2,077 | 2,409,154 |
Bed Bath & Beyond, Inc. | 409,476 | 10,998,525 |
Best Buy Co., Inc. | 80,114 | 8,039,440 |
Big Lots, Inc. | 39,439 | 2,505,954 |
Booking Holdings, Inc. * | 5,824 | 13,561,242 |
Burlington Stores, Inc. * | 4,906 | 1,269,771 |
CarMax, Inc. * | 38,726 | 4,628,144 |
Core-Mark Holding Co., Inc. | 63,239 | 2,060,327 |
Dick's Sporting Goods, Inc. | 44,562 | 3,180,390 |
Dollar General Corp. | 46,144 | 8,720,755 |
Dollar Tree, Inc. * | 46,975 | 4,612,945 |
eBay, Inc. | 170,270 | 9,606,633 |
Expedia Group, Inc. | 28,110 | 4,525,710 |
Foot Locker, Inc. | 94,576 | 4,548,160 |
GameStop Corp., Class A *(b) | 436,391 | 44,398,420 |
Genuine Parts Co. | 42,017 | 4,426,491 |
Group 1 Automotive, Inc. | 15,366 | 2,342,393 |
Kohl's Corp. | 287,902 | 15,906,586 |
L Brands, Inc. * | 138,306 | 7,559,806 |
Lithia Motors, Inc., Class A | 7,451 | 2,786,301 |
LKQ Corp. * | 77,819 | 3,065,290 |
Lowe's Cos., Inc. | 134,400 | 21,470,400 |
Macy's, Inc. | 875,937 | 13,323,002 |
Murphy USA, Inc. | 17,255 | 2,150,836 |
Nordstrom, Inc. | 136,566 | 4,977,831 |
O'Reilly Automotive, Inc. * | 10,815 | 4,837,874 |
Penske Automotive Group, Inc. | 24,862 | 1,690,119 |
Qurate Retail, Inc., Class A | 503,738 | 6,256,426 |
Ross Stores, Inc. | 50,484 | 5,888,454 |
Signet Jewelers Ltd. * | 88,412 | 4,401,149 |
Target Corp. | 147,248 | 27,011,173 |
The Aaron's Co., Inc. * | 12,731 | 279,573 |
The Gap, Inc. * | 257,416 | 6,422,529 |
The Home Depot, Inc. | 138,074 | 35,670,037 |
The ODP Corp. * | 82,881 | 3,171,856 |
The TJX Cos., Inc. | 234,178 | 15,453,406 |
Tractor Supply Co. | 23,594 | 3,750,502 |
Ulta Beauty, Inc. * | 7,489 | 2,413,929 |
Urban Outfitters, Inc. * | 57,761 | 1,958,098 |
Williams-Sonoma, Inc. | 20,728 | 2,721,379 |
365,071,875 | ||
Semiconductors & Semiconductor Equipment 4.1% | ||
Analog Devices, Inc. | 29,688 | 4,625,984 |
Applied Materials, Inc. | 148,939 | 17,603,100 |
Broadcom, Inc. | 34,371 | 16,149,902 |
Intel Corp. | 1,061,679 | 64,528,850 |
KLA Corp. | 17,130 | 5,331,370 |
Lam Research Corp. | 15,699 | 8,904,316 |
Marvell Technology Group Ltd. | 39,609 | 1,912,323 |
Maxim Integrated Products, Inc. | 32,062 | 2,987,217 |
Microchip Technology, Inc. | 19,242 | 2,936,906 |
Micron Technology, Inc. * | 263,183 | 24,089,140 |
NVIDIA Corp. | 15,791 | 8,662,627 |
NXP Semiconductor N.V. | 47,424 | 8,657,251 |
ON Semiconductor Corp. * | 81,800 | 3,294,086 |
Qorvo, Inc. * | 19,456 | 3,399,547 |
QUALCOMM, Inc. | 237,303 | 32,318,296 |
Skyworks Solutions, Inc. | 26,860 | 4,776,245 |
Teradyne, Inc. | 15,738 | 2,024,064 |
Security | Number of Shares | Value ($) |
Texas Instruments, Inc. | 129,756 | 22,353,066 |
Xilinx, Inc. | 26,828 | 3,495,688 |
238,049,978 | ||
Software & Services 5.6% | ||
Accenture plc, Class A | 62,601 | 15,706,591 |
Adobe, Inc. * | 11,536 | 5,302,753 |
Akamai Technologies, Inc. * | 17,898 | 1,691,361 |
Alliance Data Systems Corp. | 44,951 | 4,337,772 |
Amdocs Ltd. | 36,360 | 2,756,452 |
ANSYS, Inc. * | 3,836 | 1,308,038 |
Autodesk, Inc. * | 4,849 | 1,338,324 |
Automatic Data Processing, Inc. | 42,696 | 7,429,958 |
Broadridge Financial Solutions, Inc. | 12,339 | 1,758,184 |
Cadence Design Systems, Inc. * | 12,702 | 1,792,125 |
CDK Global, Inc. | 26,939 | 1,350,721 |
Check Point Software Technologies Ltd. * | 14,333 | 1,580,070 |
Citrix Systems, Inc. | 17,799 | 2,377,590 |
Cognizant Technology Solutions Corp., Class A | 121,927 | 8,959,196 |
Concentrix Corp. * | 15,257 | 1,884,392 |
Conduent, Inc. * | 340,707 | 1,833,004 |
DXC Technology Co. | 280,428 | 7,072,394 |
Fidelity National Information Services, Inc. | 33,723 | 4,653,774 |
Fiserv, Inc. * | 37,439 | 4,319,337 |
FleetCor Technologies, Inc. * | 6,393 | 1,772,843 |
Genpact Ltd. | 31,695 | 1,281,746 |
Global Payments, Inc. | 8,566 | 1,695,982 |
International Business Machines Corp. | 339,453 | 40,371,145 |
Intuit, Inc. | 14,754 | 5,756,126 |
Jack Henry & Associates, Inc. | 6,975 | 1,035,369 |
Mastercard, Inc., Class A | 36,305 | 12,846,524 |
MAXIMUS, Inc. | 14,582 | 1,185,225 |
Microsoft Corp. | 455,767 | 105,911,136 |
NortonLifeLock, Inc. | 192,528 | 3,756,221 |
Oracle Corp. | 478,709 | 30,881,518 |
Paychex, Inc. | 35,789 | 3,259,304 |
PayPal Holdings, Inc. * | 36,844 | 9,573,913 |
Perspecta, Inc. | 45,753 | 1,335,988 |
Sabre Corp. | 131,460 | 1,931,147 |
salesforce.com, Inc. * | 12,038 | 2,606,227 |
Synopsys, Inc. * | 6,758 | 1,657,129 |
Teradata Corp. * | 60,010 | 2,406,401 |
The Western Union Co. | 115,068 | 2,671,879 |
VeriSign, Inc. * | 5,124 | 994,210 |
Visa, Inc., Class A | 85,064 | 18,066,743 |
328,448,812 | ||
Technology Hardware & Equipment 7.5% | ||
Amphenol Corp., Class A | 30,753 | 3,865,037 |
Apple Inc. | 2,143,743 | 259,950,276 |
Arrow Electronics, Inc. * | 55,991 | 5,613,658 |
Avnet, Inc. | 182,497 | 6,947,661 |
CDW Corp. | 21,410 | 3,359,015 |
Cisco Systems, Inc. | 1,013,259 | 45,464,931 |
CommScope Holding Co., Inc. * | 113,558 | 1,656,811 |
Corning, Inc. | 354,535 | 13,557,418 |
Dell Technologies, Inc., Class C * | 20,376 | 1,651,882 |
F5 Networks, Inc. * | 14,586 | 2,771,048 |
Flex Ltd. * | 271,850 | 4,944,952 |
FLIR Systems, Inc. | 24,250 | 1,294,950 |
Hewlett Packard Enterprise Co. | 1,189,090 | 17,313,150 |
HP, Inc. | 415,439 | 12,035,268 |
Insight Enterprises, Inc. * | 17,734 | 1,482,385 |
Jabil, Inc. | 85,362 | 3,685,078 |
Juniper Networks, Inc. | 175,446 | 4,084,383 |
Security | Number of Shares | Value ($) |
Motorola Solutions, Inc. | 29,650 | 5,202,982 |
NCR Corp. * | 53,730 | 1,867,655 |
NetApp, Inc. | 84,201 | 5,270,983 |
Sanmina Corp. * | 50,824 | 1,810,351 |
Seagate Technology plc | 113,936 | 8,343,533 |
SYNNEX Corp. | 15,076 | 1,344,176 |
TE Connectivity Ltd. | 65,573 | 8,526,457 |
Trimble, Inc. * | 23,305 | 1,727,833 |
Vontier Corp. * | 12,624 | 396,394 |
Western Digital Corp. | 156,033 | 10,692,941 |
Xerox Holdings Corp. | 114,091 | 2,907,039 |
437,768,247 | ||
Telecommunication Services 3.0% | ||
AT&T, Inc. | 2,762,169 | 77,036,894 |
Liberty Global plc, Class A * | 88,992 | 2,191,428 |
Liberty Global plc, Class C * | 209,472 | 5,090,170 |
Lumen Technologies, Inc. | 1,048,880 | 12,890,735 |
T-Mobile US, Inc. * | 61,972 | 7,434,781 |
Telephone and Data Systems, Inc. | 81,160 | 1,451,952 |
Verizon Communications, Inc. | 1,213,827 | 67,124,633 |
173,220,593 | ||
Transportation 2.4% | ||
American Airlines Group, Inc. * | 203,305 | 4,257,207 |
Avis Budget Group, Inc. * | 84,181 | 4,676,255 |
C.H. Robinson Worldwide, Inc. | 42,153 | 3,829,600 |
CSX Corp. | 140,250 | 12,839,887 |
Delta Air Lines, Inc. * | 93,585 | 4,486,465 |
Expeditors International of Washington, Inc. | 41,569 | 3,817,697 |
FedEx Corp. | 91,274 | 23,229,233 |
J.B. Hunt Transport Services, Inc. | 17,483 | 2,567,728 |
Kansas City Southern | 13,410 | 2,847,479 |
Kirby Corp. * | 20,009 | 1,251,763 |
Knight-Swift Transportation Holdings, Inc. | 28,243 | 1,220,098 |
Landstar System, Inc. | 9,785 | 1,566,970 |
Macquarie Infrastructure Corp. | 34,491 | 1,080,948 |
Norfolk Southern Corp. | 47,656 | 12,012,171 |
Old Dominion Freight Line, Inc. | 8,617 | 1,850,673 |
Ryder System, Inc. | 63,301 | 4,289,909 |
Southwest Airlines Co. | 66,967 | 3,892,792 |
Union Pacific Corp. | 135,587 | 27,925,499 |
United Airlines Holdings, Inc. * | 61,262 | 3,227,282 |
United Parcel Service, Inc., Class B | 99,192 | 15,655,473 |
XPO Logistics, Inc. * | 23,197 | 2,704,770 |
139,229,899 | ||
Utilities 2.9% | ||
Alliant Energy Corp. | 36,103 | 1,666,515 |
Ameren Corp. | 46,662 | 3,278,939 |
American Electric Power Co., Inc. | 103,052 | 7,713,442 |
American Water Works Co., Inc. | 17,392 | 2,467,577 |
Atmos Energy Corp. | 17,246 | 1,459,184 |
CenterPoint Energy, Inc. | 170,915 | 3,322,588 |
CMS Energy Corp. | 51,145 | 2,767,456 |
Consolidated Edison, Inc. | 87,976 | 5,775,624 |
Dominion Energy, Inc. | 119,505 | 8,164,582 |
DTE Energy Co. | 39,463 | 4,645,584 |
Duke Energy Corp. | 180,240 | 15,426,742 |
Edison International | 90,156 | 4,867,522 |
Entergy Corp. | 42,188 | 3,662,340 |
Evergy, Inc. | 66,389 | 3,560,442 |
Eversource Energy | 52,446 | 4,168,408 |
Exelon Corp. | 343,938 | 13,276,007 |
Security | Number of Shares | Value ($) |
FirstEnergy Corp. | 160,717 | 5,326,161 |
MDU Resources Group, Inc. | 58,233 | 1,636,347 |
NextEra Energy, Inc. | 191,150 | 14,045,702 |
NiSource, Inc. | 75,267 | 1,625,767 |
NRG Energy, Inc. | 44,270 | 1,616,298 |
OGE Energy Corp. | 44,737 | 1,309,452 |
PG&E Corp. * | 441,826 | 4,643,591 |
Pinnacle West Capital Corp. | 28,294 | 1,978,599 |
Portland General Electric Co. | 23,567 | 993,585 |
PPL Corp. | 219,533 | 5,749,569 |
Public Service Enterprise Group, Inc. | 119,274 | 6,420,519 |
Sempra Energy | 42,323 | 4,908,622 |
Southwest Gas Holdings, Inc. | 14,334 | 893,725 |
The AES Corp. | 275,805 | 7,325,381 |
The Southern Co. | 211,231 | 11,981,022 |
UGI Corp. | 69,489 | 2,662,124 |
Vistra Corp. | 144,167 | 2,486,881 |
WEC Energy Group, Inc. | 43,311 | 3,492,599 |
Xcel Energy, Inc. | 88,500 | 5,185,215 |
170,504,111 | ||
Total Common Stock | ||
(Cost $4,729,532,728) | 5,851,751,349 | |
Other Investment Companies 0.8% of net assets | ||
Money Market Fund 0.1% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (c) | 6,327,893 | 6,327,893 |
Security | Number of Shares | Value ($) |
Securities Lending Collateral 0.7% | ||
Wells Fargo Government Money Market Fund, Select Class 0.03% (c) | 41,329,925 | 41,329,925 |
Total Other Investment Companies | ||
(Cost $47,657,818) | 47,657,818 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
Long | ||||||
S&P 500 Index, e-mini, expires 03/19/21 | 58 | 11,046,680 | (276,776) |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund’s investment adviser. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $37,922,275. |
(c) | The rate shown is the 7-day yield. |
REIT — | Real Estate Investment Trust |
Value at 2/29/20 | Gross Purchases | Gross Sales | Realized Gains(Losses) | Net change in unrealized appreciation (depreciation) | Value at 2/28/21 | Balance of Shares Held at 2/28/21 | Dividends Received | |
The Charles Schwab Corp. | $3,669,008 | $3,251,948 | ($1,335,246) | $160,562 | $2,656,906 | $8,403,178 | 136,150 | $80,906 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $5,851,751,349 | $— | $— | $5,851,751,349 | |
Other Investment Companies1 | 47,657,818 | — | — | 47,657,818 | |
Liabilities | |||||
Futures Contracts2 | (276,776) | — | — | (276,776) | |
Total | $5,899,132,391 | $— | $— | $5,899,132,391 |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments in affiliated issuer, at value (cost $5,703,867) | $8,403,178 | |
Investments in unaffiliated issuers, at value (cost $4,730,156,754) including securities on loan of $37,922,275 | 5,849,676,064 | |
Collateral invested for securities on loan, at value (cost $41,329,925) | 41,329,925 | |
Deposit with broker for futures contracts | 583,000 | |
Receivables: | ||
Investments sold | 19,160,593 | |
Fund shares sold | 17,017,544 | |
Dividends | 12,659,841 | |
Income from securities on loan | + | 79,978 |
Total assets | 5,948,910,123 | |
Liabilities | ||
Collateral held for securities on loan | 41,329,925 | |
Payables: | ||
Investments bought | 19,420,843 | |
Management fees | 1,113,091 | |
Fund shares redeemed | 24,474,415 | |
Variation margin on futures contracts | + | 49,007 |
Total liabilities | 86,387,281 | |
Net Assets | ||
Total assets | 5,948,910,123 | |
Total liabilities | – | 86,387,281 |
Net assets | $5,862,522,842 | |
Net Assets by Source | ||
Capital received from investors | 4,976,150,110 | |
Total distributable earnings | 886,372,732 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$5,862,522,842 | 120,900,000 | $48.49 | ||
Investment Income | ||
Dividends received from affiliated issuer | $80,906 | |
Dividends received from unaffiliated issuers (net of foreign withholding tax of $10,540) | 137,729,032 | |
Securities on loan, net | + | 1,532,323 |
Total investment income | 139,342,261 | |
Expenses | ||
Management fees | 12,688,961 | |
Total expenses | – | 12,688,961 |
Net investment income | 126,653,300 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on affiliated issuer | (38,377) | |
Net realized losses on unaffiliated issuers | (181,804,642) | |
Net realized gains on in-kind redemptions on affiliated issuer | 198,939 | |
Net realized gains on in-kind redemptions on unaffiliated issuers | 603,643,345 | |
Net realized gains on futures contracts | + | 934,942 |
Net realized gains | 422,934,207 | |
Net change in unrealized appreciation (depreciation) on affiliated issuer | 2,656,906 | |
Net change in unrealized appreciation (depreciation) on unaffiliated issuers | 879,117,545 | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | 1,694,146 |
Net change in unrealized appreciation (depreciation) | + | 883,468,597 |
Net realized and unrealized gains | 1,306,402,804 | |
Increase in net assets resulting from operations | $1,433,056,104 |
Operations | ||||
3/1/20-2/28/21 | 3/1/19-2/29/20 | |||
Net investment income | $126,653,300 | $134,103,915 | ||
Net realized gains | 422,934,207 | 75,878,897 | ||
Net change in unrealized appreciation (depreciation) | + | 883,468,597 | (161,320,173) | |
Increase in net assets resulting from operations | 1,433,056,104 | 48,662,639 | ||
Distributions to Shareholders | ||||
Total distributions | ($134,608,220) | ($128,120,700) |
Transactions in Fund Shares | ||||||||
3/1/20-2/28/21 | 3/1/19-2/29/20 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 30,500,000 | $1,133,770,691 | 38,750,000 | $1,543,661,840 | ||||
Shares redeemed | + | (57,150,000) | (2,127,678,557) | (12,700,000) | (502,481,171) | |||
Net transactions in fund shares | (26,650,000) | ($993,907,866) | 26,050,000 | $1,041,180,669 | ||||
Shares Outstanding and Net Assets | ||||||||
3/1/20-2/28/21 | 3/1/19-2/29/20 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 147,550,000 | $5,557,982,824 | 121,500,000 | $4,596,260,216 | ||||
Total increase (decrease) | + | (26,650,000) | 304,540,018 | 26,050,000 | 961,722,608 | |||
End of period | 120,900,000 | $5,862,522,842 | 147,550,000 | $5,557,982,824 |
3/1/20– 2/28/21 | 3/1/19– 2/29/20 | 3/1/18– 2/28/19 | 3/1/17– 2/28/18 | 3/1/16– 2/28/17 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $34.73 | $38.08 | $36.90 | $34.89 | $26.47 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.49 | 0.55 | 0.59 | 0.52 | 0.45 | |
Net realized and unrealized gains (losses) | 14.09 | (3.34) | 1.14 | 1.98 | 8.37 | |
Total from investment operations | 14.58 | (2.79) | 1.73 | 2.50 | 8.82 | |
Less distributions: | ||||||
Distributions from net investment income | (0.56) | (0.56) | (0.55) | (0.49) | (0.40) | |
Net asset value at end of period | $48.75 | $34.73 | $38.08 | $36.90 | $34.89 | |
Total return | 42.73% | (7.46%) | 4.69% | 7.22% | 33.56% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.25% | 0.25% | 0.25% | 0.25% | 0.32% | |
Net investment income (loss) | 1.40% | 1.43% | 1.53% | 1.45% | 1.43% | |
Portfolio turnover rate2 | 24% | 26% | 23% | 21% | 23% | |
Net assets, end of period (x 1,000) | $4,085,618 | $3,424,710 | $3,402,783 | $2,782,002 | $1,568,402 | |
Security | Number of Shares | Value ($) |
Common Stock 99.9% of net assets | ||
Automobiles & Components 1.8% | ||
Cooper-Standard Holding, Inc. * | 320,379 | 11,475,976 |
Dorman Products, Inc. * | 40,029 | 3,991,292 |
Fox Factory Holding Corp. * | 14,486 | 1,841,895 |
Gentherm, Inc. * | 59,866 | 4,237,914 |
LCI Industries | 44,105 | 6,216,159 |
Modine Manufacturing Co. * | 331,922 | 4,603,758 |
Patrick Industries, Inc. | 36,558 | 2,885,523 |
Standard Motor Products, Inc. | 55,245 | 2,320,842 |
Stoneridge, Inc. * | 56,564 | 1,734,252 |
Tenneco, Inc., Class A * | 747,733 | 8,329,746 |
Tesla, Inc. * | 19,945 | 13,472,847 |
Veoneer, Inc. * | 279,558 | 7,682,254 |
Winnebago Industries, Inc. | 41,509 | 2,889,026 |
71,681,484 | ||
Banks 8.7% | ||
Associated Banc-Corp. | 278,895 | 5,619,734 |
Atlantic Union Bankshares Corp. | 60,270 | 2,213,717 |
Axos Financial, Inc. * | 50,814 | 2,351,164 |
BancorpSouth Bank | 135,147 | 4,062,519 |
Bank of Hawaii Corp. | 55,303 | 4,839,013 |
Bank OZK | 152,517 | 6,286,751 |
BankUnited, Inc. | 214,941 | 8,638,479 |
Banner Corp. | 47,037 | 2,435,576 |
Berkshire Hills Bancorp, Inc. | 85,640 | 1,726,502 |
BOK Financial Corp. | 42,393 | 3,648,342 |
Boston Private Financial Holdings, Inc. | 201,904 | 2,778,199 |
Brookline Bancorp, Inc. | 106,000 | 1,508,380 |
Cadence BanCorp | 120,507 | 2,472,804 |
Capitol Federal Financial, Inc. | 187,706 | 2,498,367 |
Cathay General Bancorp | 104,301 | 3,925,890 |
Central Pacific Financial Corp. | 75,919 | 1,718,047 |
Columbia Banking System, Inc. | 85,005 | 3,764,871 |
Commerce Bancshares, Inc. | 76,061 | 5,630,796 |
Community Bank System, Inc. | 36,391 | 2,590,675 |
Cullen/Frost Bankers, Inc. | 62,638 | 6,539,407 |
CVB Financial Corp. | 97,078 | 2,078,440 |
Eagle Bancorp, Inc. | 33,310 | 1,628,526 |
East West Bancorp, Inc. | 175,415 | 12,657,946 |
Essent Group Ltd. | 65,040 | 2,681,599 |
F.N.B. Corp. | 559,147 | 6,614,709 |
Federal Agricultural Mortgage Corp., Class C | 16,889 | 1,456,676 |
First BanCorp | 288,655 | 3,027,991 |
First Citizens BancShares, Inc., Class A | 6,921 | 5,106,937 |
First Commonwealth Financial Corp. | 146,154 | 1,959,925 |
First Financial Bancorp | 114,038 | 2,557,872 |
First Financial Bankshares, Inc. | 52,724 | 2,354,654 |
First Hawaiian, Inc. | 204,302 | 5,697,983 |
First Horizon Corp. | 748,013 | 12,117,811 |
First Interstate BancSystem, Inc., Class A | 34,883 | 1,584,386 |
First Merchants Corp. | 44,590 | 1,875,010 |
First Midwest Bancorp, Inc. | 135,649 | 2,683,137 |
Security | Number of Shares | Value ($) |
Flagstar Bancorp, Inc. | 47,500 | 2,061,025 |
Fulton Financial Corp. | 310,052 | 4,790,303 |
Glacier Bancorp, Inc. | 64,001 | 3,468,854 |
Great Western Bancorp, Inc. | 138,319 | 3,711,099 |
Hancock Whitney Corp. | 157,314 | 5,938,603 |
Heartland Financial USA, Inc. | 33,522 | 1,566,818 |
Hilltop Holdings, Inc. | 88,038 | 2,908,776 |
Home BancShares, Inc. | 171,107 | 4,181,855 |
Hope Bancorp, Inc. | 239,540 | 3,152,346 |
Independent Bank Corp. | 20,776 | 1,776,556 |
International Bancshares Corp. | 74,589 | 3,250,589 |
Investors Bancorp, Inc. | 322,480 | 4,301,883 |
MGIC Investment Corp. | 598,908 | 7,294,699 |
National Bank Holdings Corp., Class A | 42,977 | 1,665,359 |
NBT Bancorp, Inc. | 53,331 | 1,932,182 |
Northwest Bancshares, Inc. | 172,218 | 2,431,718 |
OFG Bancorp | 113,762 | 2,196,744 |
Old National Bancorp | 191,213 | 3,466,692 |
Park National Corp. | 17,019 | 2,110,356 |
Pinnacle Financial Partners, Inc. | 49,560 | 4,022,785 |
Popular, Inc. | 142,683 | 9,534,078 |
Prosperity Bancshares, Inc. | 68,743 | 5,050,548 |
Provident Financial Services, Inc. | 106,204 | 2,148,507 |
Radian Group, Inc. | 334,339 | 6,820,516 |
Renasant Corp. | 56,032 | 2,200,937 |
S&T Bancorp, Inc. | 50,120 | 1,447,466 |
Sandy Spring Bancorp, Inc. | 42,486 | 1,596,624 |
Signature Bank | 46,340 | 10,117,876 |
Simmons First National Corp., Class A | 84,938 | 2,486,985 |
South State Corp. | 35,775 | 2,821,217 |
Sterling Bancorp | 185,865 | 4,057,433 |
SVB Financial Group * | 28,323 | 14,313,311 |
Synovus Financial Corp. | 269,862 | 11,417,861 |
TCF Financial Corp. | 79,427 | 3,559,918 |
Texas Capital Bancshares, Inc. * | 67,251 | 5,124,526 |
The Bank of NT Butterfield & Son Ltd. | 72,359 | 2,640,380 |
Towne Bank | 67,665 | 1,951,459 |
Trustmark Corp. | 100,650 | 3,035,604 |
UMB Financial Corp. | 44,666 | 3,768,470 |
Umpqua Holdings Corp. | 427,029 | 7,289,385 |
United Bankshares, Inc. | 121,986 | 4,507,383 |
United Community Banks, Inc. | 80,154 | 2,649,891 |
Valley National Bancorp | 395,466 | 4,844,458 |
Walker & Dunlop, Inc. | 47,747 | 4,758,466 |
Washington Federal, Inc. | 159,636 | 4,824,200 |
Webster Financial Corp. | 134,333 | 7,429,958 |
WesBanco, Inc. | 65,701 | 2,120,828 |
Westamerica BanCorp | 20,122 | 1,209,533 |
Western Alliance Bancorp | 63,818 | 5,839,985 |
Wintrust Financial Corp. | 72,948 | 5,373,350 |
WSFS Financial Corp. | 35,973 | 1,911,605 |
354,414,835 | ||
Capital Goods 11.9% | ||
AAON, Inc. | 25,803 | 1,989,411 |
AAR Corp. | 160,125 | 6,369,772 |
Advanced Drainage Systems, Inc. | 21,789 | 2,397,226 |
Security | Number of Shares | Value ($) |
Aegion Corp. * | 133,851 | 3,460,048 |
Aerojet Rocketdyne Holdings, Inc. * | 41,873 | 2,146,829 |
Air Lease Corp. | 170,818 | 7,833,713 |
Alamo Group, Inc. | 17,193 | 2,624,168 |
Albany International Corp., Class A | 35,534 | 2,808,963 |
Allegion plc | 54,924 | 5,974,633 |
Altra Industrial Motion Corp. | 56,151 | 3,252,266 |
American Woodmark Corp. * | 26,164 | 2,443,979 |
Apogee Enterprises, Inc. | 116,732 | 4,365,777 |
Applied Industrial Technologies, Inc. | 84,776 | 7,237,327 |
Arcosa, Inc. | 120,362 | 6,828,136 |
Argan, Inc. | 40,508 | 2,026,210 |
Armstrong World Industries, Inc. | 44,364 | 3,796,671 |
Astec Industries, Inc. | 56,383 | 3,829,533 |
Astronics Corp. * | 99,411 | 1,570,694 |
Atkore, Inc. * | 77,924 | 5,271,559 |
AZZ, Inc. | 65,764 | 3,359,883 |
Barnes Group, Inc. | 96,182 | 5,035,128 |
Beacon Roofing Supply, Inc. * | 187,564 | 8,971,186 |
Boise Cascade Co. | 153,703 | 7,675,928 |
Builders FirstSource, Inc. * | 347,133 | 15,018,709 |
BWX Technologies, Inc. | 78,531 | 4,555,583 |
CAI International, Inc. | 50,989 | 2,243,516 |
Chart Industries, Inc. * | 28,702 | 4,106,969 |
CIRCOR International, Inc. * | 50,504 | 1,798,447 |
Colfax Corp. * | 187,489 | 8,315,137 |
Columbus McKinnon Corp. | 37,674 | 1,896,509 |
Comfort Systems USA, Inc. | 72,132 | 4,467,856 |
Crane Co. | 91,835 | 7,701,283 |
Cubic Corp. | 50,460 | 3,504,447 |
Douglas Dynamics, Inc. | 33,113 | 1,595,384 |
DXP Enterprises, Inc. * | 74,439 | 2,236,148 |
Dycom Industries, Inc. * | 103,855 | 7,953,216 |
Encore Wire Corp. | 61,370 | 4,021,576 |
Enerpac Tool Group Corp. | 127,391 | 3,146,558 |
EnerSys | 89,217 | 8,054,511 |
EnPro Industries, Inc. | 46,701 | 3,751,958 |
ESCO Technologies, Inc. | 19,931 | 2,106,109 |
Federal Signal Corp. | 70,397 | 2,563,155 |
Franklin Electric Co., Inc. | 54,712 | 4,106,683 |
Generac Holdings, Inc. * | 27,093 | 8,928,769 |
Gibraltar Industries, Inc. * | 35,349 | 3,087,735 |
GMS, Inc. * | 116,322 | 4,257,385 |
Granite Construction, Inc. | 254,010 | 8,732,864 |
Griffon Corp. | 118,094 | 2,905,112 |
H&E Equipment Services, Inc. | 134,321 | 4,154,549 |
HEICO Corp. | 13,231 | 1,664,195 |
HEICO Corp., Class A | 24,624 | 2,850,474 |
Herc Holdings, Inc. * | 75,119 | 6,592,443 |
Hillenbrand, Inc. | 139,507 | 6,481,495 |
Hyster-Yale Materials Handling, Inc. | 46,349 | 3,965,157 |
Ingersoll Rand, Inc. * | 74,536 | 3,453,998 |
Insteel Industries, Inc. | 66,046 | 2,039,500 |
JELD-WEN Holding, Inc. * | 169,712 | 5,031,961 |
John Bean Technologies Corp. | 23,337 | 3,443,841 |
Kadant, Inc. | 11,176 | 1,944,624 |
Kaman Corp. | 69,168 | 3,365,715 |
Kennametal, Inc. | 148,498 | 5,547,885 |
Lindsay Corp. | 18,084 | 2,897,961 |
Lydall, Inc. * | 74,348 | 2,589,541 |
Masonite International Corp. * | 50,629 | 5,555,014 |
MasTec, Inc. * | 141,890 | 12,308,957 |
Matrix Service Co. * | 200,287 | 2,717,895 |
Maxar Technologies, Inc. | 107,094 | 5,124,448 |
McGrath RentCorp | 33,970 | 2,638,110 |
Meritor, Inc. * | 146,910 | 4,461,657 |
Moog, Inc., Class A | 93,677 | 7,274,956 |
MRC Global, Inc. * | 609,707 | 5,328,839 |
Security | Number of Shares | Value ($) |
Mueller Industries, Inc. | 167,770 | 6,818,173 |
Mueller Water Products, Inc., Class A | 238,413 | 3,073,144 |
MYR Group, Inc. * | 67,289 | 3,966,687 |
National Presto Industries, Inc. | 14,212 | 1,454,314 |
Navistar International Corp. * | 51,666 | 2,276,404 |
NOW, Inc. * | 728,980 | 7,749,057 |
nVent Electric plc | 314,214 | 8,251,260 |
Primoris Services Corp. | 168,732 | 5,647,460 |
Proto Labs, Inc. * | 11,207 | 1,632,636 |
Quanex Building Products Corp. | 113,832 | 2,769,533 |
Raven Industries, Inc. | 61,292 | 2,402,646 |
RBC Bearings, Inc. * | 15,384 | 3,062,339 |
REV Group, Inc. | 157,556 | 1,956,846 |
Rexnord Corp. | 114,562 | 5,149,562 |
Rush Enterprises, Inc., Class A | 193,720 | 8,219,540 |
Simpson Manufacturing Co., Inc. | 44,139 | 4,301,787 |
SiteOne Landscape Supply, Inc. * | 16,108 | 2,553,279 |
SPX FLOW, Inc. * | 73,048 | 4,496,835 |
Standex International Corp. | 27,341 | 2,681,058 |
Teledyne Technologies, Inc. * | 19,274 | 7,150,654 |
Tennant Co. | 24,181 | 1,842,592 |
Terex Corp. | 288,728 | 11,889,819 |
The Greenbrier Cos., Inc. | 228,890 | 10,769,274 |
The Manitowoc Co., Inc. * | 122,348 | 1,993,049 |
The Middleby Corp. * | 63,719 | 9,329,099 |
Titan Machinery, Inc. * | 123,169 | 3,017,641 |
Trex Co., Inc. * | 35,543 | 3,257,161 |
TriMas Corp. * | 69,790 | 2,344,246 |
Triton International Ltd. | 108,514 | 6,269,939 |
Tutor Perini Corp. * | 461,374 | 6,782,198 |
Vectrus, Inc. * | 30,254 | 1,651,868 |
Wabash National Corp. | 323,038 | 5,355,970 |
Watts Water Technologies, Inc., Class A | 31,088 | 3,546,830 |
Welbilt, Inc. * | 223,671 | 3,574,263 |
Woodward, Inc. | 62,155 | 7,099,344 |
488,094,381 | ||
Commercial & Professional Services 5.2% | ||
ACCO Brands Corp. | 408,291 | 3,307,157 |
ADT, Inc. | 219,558 | 1,670,836 |
ASGN, Inc. * | 76,743 | 7,134,797 |
Brady Corp., Class A | 65,938 | 3,455,811 |
CBIZ, Inc. * | 68,146 | 2,054,602 |
Cimpress plc * | 17,719 | 1,755,599 |
Clean Harbors, Inc. * | 86,606 | 7,374,501 |
Copart, Inc. * | 62,714 | 6,845,860 |
CoreLogic, Inc. | 92,047 | 7,792,699 |
CoStar Group, Inc. * | 4,586 | 3,777,763 |
Covanta Holding Corp. | 368,542 | 5,178,015 |
Deluxe Corp. | 242,865 | 9,600,453 |
Exponent, Inc. | 20,940 | 2,020,082 |
FTI Consulting, Inc. * | 40,643 | 4,655,656 |
Harsco Corp. * | 211,876 | 3,466,291 |
Healthcare Services Group, Inc. | 170,052 | 4,837,979 |
Herman Miller, Inc. | 176,463 | 6,768,238 |
HNI Corp. | 143,578 | 5,109,941 |
Huron Consulting Group, Inc. * | 34,547 | 1,758,442 |
IAA, Inc. * | 74,212 | 4,351,050 |
ICF International, Inc. | 33,872 | 2,826,618 |
Insperity, Inc. | 34,855 | 3,091,639 |
Interface, Inc. | 247,406 | 3,072,783 |
KAR Auction Services, Inc. | 232,559 | 3,234,896 |
KBR, Inc. | 248,306 | 7,697,486 |
Kelly Services, Inc., Class A * | 369,356 | 7,689,992 |
Kforce, Inc. | 67,913 | 3,487,333 |
Knoll, Inc. | 170,056 | 2,773,613 |
Korn Ferry | 113,231 | 6,969,368 |
Security | Number of Shares | Value ($) |
ManTech International Corp., Class A | 41,545 | 3,247,157 |
Matthews International Corp., Class A | 108,390 | 3,869,523 |
MSA Safety, Inc. | 21,033 | 3,386,103 |
Quad/Graphics, Inc. * | 778,689 | 3,410,658 |
R.R. Donnelley & Sons Co. * | 2,291,242 | 7,790,223 |
Resources Connection, Inc. | 153,714 | 1,961,391 |
Rollins, Inc. | 91,172 | 3,024,175 |
SP Plus Corp. * | 86,043 | 2,852,325 |
Steelcase, Inc., Class A | 364,870 | 5,086,288 |
Stericycle, Inc. * | 99,189 | 6,434,390 |
Team, Inc. * | 194,467 | 2,156,639 |
Tetra Tech, Inc. | 53,750 | 7,437,387 |
The Brink's Co. | 55,218 | 4,242,399 |
TransUnion | 62,825 | 5,290,493 |
TriNet Group, Inc. * | 23,897 | 1,918,212 |
TrueBlue, Inc. * | 261,335 | 5,443,608 |
UniFirst Corp. | 22,802 | 5,524,697 |
US Ecology, Inc. * | 31,874 | 1,217,906 |
Viad Corp. | 97,360 | 4,073,542 |
212,126,616 | ||
Consumer Durables & Apparel 4.6% | ||
Acushnet Holdings Corp. | 51,923 | 2,192,189 |
American Outdoor Brands, Inc. * | 41,289 | 826,193 |
Beazer Homes USA, Inc. * | 145,563 | 2,572,098 |
Callaway Golf Co. | 132,124 | 3,692,866 |
Cavco Industries, Inc. * | 8,795 | 1,854,953 |
Century Communities, Inc. * | 40,072 | 2,217,184 |
Columbia Sportswear Co. | 43,450 | 4,478,392 |
Crocs, Inc. * | 41,368 | 3,173,753 |
Deckers Outdoor Corp. * | 32,937 | 10,741,085 |
Ethan Allen Interiors, Inc. | 156,142 | 4,000,358 |
Fossil Group, Inc. * | 1,058,389 | 16,024,009 |
G-III Apparel Group Ltd. * | 324,686 | 9,347,710 |
Helen of Troy Ltd. * | 28,963 | 6,279,178 |
iRobot Corp. * | 34,803 | 4,319,400 |
KB Home | 133,819 | 5,403,611 |
Kontoor Brands, Inc. | 239,731 | 10,128,635 |
La-Z-Boy, Inc. | 140,199 | 5,973,879 |
LGI Homes, Inc. * | 17,313 | 1,891,445 |
M.D.C Holdings, Inc. | 95,245 | 5,388,010 |
M/I Homes, Inc. * | 64,767 | 3,231,873 |
Meritage Homes Corp. * | 64,270 | 5,418,604 |
Movado Group, Inc. | 104,413 | 2,380,616 |
Oxford Industries, Inc. | 55,044 | 4,196,555 |
Smith & Wesson Brands, Inc. | 156,089 | 2,686,292 |
Steven Madden Ltd. | 210,534 | 7,787,653 |
Sturm Ruger & Co., Inc. | 40,573 | 2,767,079 |
Tempur Sealy International, Inc. | 185,359 | 6,192,844 |
TopBuild Corp. * | 27,693 | 5,273,024 |
Tri Pointe Homes, Inc. * | 370,081 | 7,031,539 |
Tupperware Brands Corp. * | 681,224 | 20,825,018 |
Universal Electronics, Inc. * | 30,549 | 1,777,646 |
Vista Outdoor, Inc. * | 287,065 | 9,074,125 |
Wolverine World Wide, Inc. | 210,058 | 7,341,527 |
186,489,343 | ||
Consumer Services 5.8% | ||
Adtalem Global Education, Inc. * | 158,140 | 6,214,902 |
American Public Education, Inc. * | 43,150 | 1,270,336 |
Arcos Dorados Holdings, Inc., Class A | 478,564 | 2,522,032 |
BJ's Restaurants, Inc. * | 96,509 | 5,359,145 |
Bloomin' Brands, Inc. * | 354,035 | 8,794,229 |
Boyd Gaming Corp. * | 141,282 | 8,293,253 |
Bright Horizons Family Solutions, Inc. * | 35,023 | 5,591,772 |
Brinker International, Inc. | 179,961 | 12,343,525 |
Security | Number of Shares | Value ($) |
Caesars Entertainment, Inc. * | 134,625 | 12,579,360 |
Choice Hotels International, Inc. | 20,659 | 2,166,509 |
Churchill Downs, Inc. | 29,004 | 6,689,193 |
Dave & Buster's Entertainment, Inc. * | 155,883 | 6,330,409 |
Denny's Corp. * | 111,923 | 1,964,249 |
Dine Brands Global, Inc. | 33,189 | 2,625,582 |
Fiesta Restaurant Group, Inc. * | 115,801 | 1,767,123 |
frontdoor, Inc. * | 41,663 | 2,181,891 |
Graham Holdings Co., Class B | 14,261 | 8,568,437 |
Grand Canyon Education, Inc. * | 43,003 | 4,501,984 |
Hilton Grand Vacations, Inc. * | 165,539 | 6,540,446 |
Houghton Mifflin Harcourt Co. * | 1,135,291 | 6,925,275 |
Hyatt Hotels Corp., Class A * | 95,820 | 8,427,369 |
International Game Technology plc | 522,731 | 9,560,750 |
Jack in the Box, Inc. | 81,917 | 8,384,205 |
Laureate Education, Inc., Class A * | 276,013 | 3,795,179 |
Marriott Vacations Worldwide Corp. * | 55,636 | 9,441,986 |
Papa John's International, Inc. | 28,056 | 2,530,371 |
Penn National Gaming, Inc. * | 120,007 | 13,894,410 |
Perdoceo Education Corp. * | 92,341 | 1,188,429 |
Planet Fitness, Inc., Class A * | 20,533 | 1,767,686 |
Red Robin Gourmet Burgers, Inc. * | 163,727 | 5,024,782 |
Red Rock Resorts, Inc., Class A | 135,604 | 4,091,173 |
Regis Corp. * | 209,994 | 2,467,429 |
Ruth's Hospitality Group, Inc. | 99,921 | 2,278,698 |
Scientific Games Corp., Class A * | 122,775 | 5,749,553 |
SeaWorld Entertainment, Inc. * | 82,537 | 4,098,787 |
Strategic Education, Inc. | 12,986 | 1,180,687 |
Stride, Inc. * | 113,221 | 2,722,965 |
Terminix Global Holdings, Inc. * | 99,645 | 4,485,021 |
Texas Roadhouse, Inc. | 88,743 | 8,064,964 |
The Cheesecake Factory, Inc. | 200,085 | 10,994,671 |
Vail Resorts, Inc. | 28,183 | 8,713,620 |
WW International, Inc. * | 54,607 | 1,610,360 |
Wyndham Hotels & Resorts, Inc. | 83,606 | 5,457,800 |
239,160,547 | ||
Diversified Financials 3.9% | ||
AGNC Investment Corp. | 408,136 | 6,542,420 |
Apollo Commercial Real Estate Finance, Inc. | 196,233 | 2,607,937 |
Artisan Partners Asset Management, Inc., Class A | 73,593 | 3,495,667 |
BGC Partners, Inc., Class A | 644,843 | 2,888,897 |
Blackstone Mortgage Trust, Inc., Class A | 129,345 | 3,776,874 |
Brightsphere Investment Group, Inc. | 123,364 | 2,232,888 |
Cannae Holdings, Inc. * | 84,964 | 3,173,405 |
Capstead Mortgage Corp. | 281,785 | 1,614,628 |
Cboe Global Markets, Inc. | 65,944 | 6,525,818 |
Cohen & Steers, Inc. | 20,371 | 1,311,485 |
Compass Diversified Holdings | 151,170 | 3,575,170 |
Credit Acceptance Corp. * | 9,477 | 3,440,340 |
Donnelley Financial Solutions, Inc. * | 156,521 | 4,067,981 |
Encore Capital Group, Inc. * | 44,818 | 1,497,818 |
Enova International, Inc. * | 100,877 | 3,096,924 |
FactSet Research Systems, Inc. | 15,081 | 4,583,267 |
Federated Hermes, Inc. | 194,605 | 5,199,846 |
FirstCash, Inc. | 56,922 | 3,604,301 |
Green Dot Corp., Class A * | 40,487 | 1,913,416 |
Greenhill & Co., Inc. | 129,443 | 1,953,295 |
Houlihan Lokey, Inc. | 33,890 | 2,154,048 |
Invesco Mortgage Capital, Inc. (a) | 654,612 | 2,546,441 |
Janus Henderson Group plc | 295,604 | 8,640,505 |
Ladder Capital Corp., Class A | 251,886 | 2,881,576 |
MarketAxess Holdings, Inc. | 6,426 | 3,572,470 |
MFA Financial, Inc. | 1,256,913 | 5,052,790 |
Moelis & Co., Class A | 66,695 | 3,444,130 |
Security | Number of Shares | Value ($) |
Morningstar, Inc. | 12,201 | 2,736,074 |
Nelnet, Inc., Class A | 37,537 | 2,725,186 |
New York Mortgage Trust, Inc. | 562,538 | 2,345,783 |
OneMain Holdings, Inc. | 187,734 | 8,806,602 |
PennyMac Mortgage Investment Trust | 160,721 | 3,048,877 |
Piper Sandler Cos. | 20,212 | 2,148,940 |
PRA Group, Inc. * | 72,739 | 2,681,160 |
Redwood Trust, Inc. | 271,139 | 2,668,008 |
SLM Corp. | 539,388 | 8,516,936 |
Stifel Financial Corp. | 96,434 | 5,890,189 |
Two Harbors Investment Corp. | 522,630 | 3,773,389 |
Virtus Investment Partners, Inc. | 10,160 | 2,549,144 |
Waddell & Reed Financial, Inc., Class A | 457,034 | 11,466,983 |
WisdomTree Investments, Inc. | 346,276 | 1,835,263 |
World Acceptance Corp. * | 26,296 | 3,327,759 |
159,914,630 | ||
Energy 5.2% | ||
Arch Resources, Inc. | 133,932 | 6,418,021 |
Archrock, Inc. | 330,695 | 3,409,465 |
Callon Petroleum Co. *(a) | 151,455 | 3,872,704 |
Centennial Resource Development, Inc., Class A * | 1,648,862 | 6,529,494 |
ChampionX Corp. * | 265,319 | 5,643,335 |
Cheniere Energy, Inc. * | 92,905 | 6,260,868 |
Cimarex Energy Co. | 157,250 | 9,118,927 |
CNX Resources Corp. * | 670,362 | 8,453,265 |
CONSOL Energy, Inc. * | 579,936 | 6,269,108 |
Continental Resources, Inc. * | 207,943 | 5,028,062 |
Core Laboratories N.V. | 128,581 | 4,569,769 |
Cosan Ltd., A Shares | 285,277 | 5,257,655 |
CVR Energy, Inc. | 166,548 | 3,677,380 |
Diamondback Energy, Inc. | 110,465 | 7,653,015 |
Dril-Quip, Inc. * | 104,099 | 3,535,202 |
EQT Corp. * | 454,093 | 8,078,314 |
Equitrans Midstream Corp. | 394,185 | 2,849,958 |
Exterran Corp. * | 408,664 | 2,235,392 |
Forum Energy Technologies, Inc. * | 117,694 | 2,512,767 |
Frank's International N.V. * | 607,344 | 2,751,268 |
GasLog Ltd. | 345,463 | 2,034,777 |
Green Plains, Inc. * | 375,818 | 9,515,712 |
Helix Energy Solutions Group, Inc. * | 497,156 | 2,436,064 |
International Seaways, Inc. | 79,389 | 1,376,605 |
Kosmos Energy Ltd. | 1,150,972 | 3,544,994 |
Liberty Oilfield Services, Inc., Class A | 175,785 | 2,054,927 |
Magnolia Oil & Gas Corp., Class A * | 194,855 | 2,349,951 |
Matador Resources Co. * | 133,278 | 2,784,177 |
Newpark Resources, Inc. * | 820,089 | 2,837,508 |
NexTier Oilfield Solutions, Inc. * | 461,935 | 2,147,998 |
Nordic American Tankers Ltd. | 507,332 | 1,506,776 |
Oil States International, Inc. * | 851,029 | 6,238,043 |
Par Pacific Holdings, Inc. * | 177,903 | 3,143,546 |
PDC Energy, Inc. * | 220,826 | 7,717,869 |
ProPetro Holding Corp. * | 272,531 | 3,125,931 |
QEP Resources, Inc. | 3,094,052 | 10,643,539 |
Range Resources Corp. * | 921,860 | 8,886,730 |
Renewable Energy Group, Inc. * | 104,629 | 8,136,997 |
REX American Resources Corp. * | 21,454 | 2,018,178 |
RPC, Inc. * | 500,711 | 3,179,515 |
Scorpio Tankers, Inc. | 136,744 | 2,018,341 |
SFL Corp., Ltd. | 263,539 | 1,987,084 |
Southwestern Energy Co. * | 721,726 | 2,922,990 |
Teekay Tankers Ltd., Class A * | 108,032 | 1,360,123 |
Tidewater, Inc. * | 259,512 | 3,233,520 |
Security | Number of Shares | Value ($) |
US Silica Holdings, Inc. | 579,745 | 7,716,406 |
Whiting Petroleum Corp. * | 83,305 | 2,857,362 |
211,899,632 | ||
Food & Staples Retailing 0.6% | ||
BJ's Wholesale Club Holdings, Inc. * | 68,302 | 2,744,374 |
Ingles Markets, Inc., Class A | 93,070 | 4,835,917 |
PriceSmart, Inc. | 72,126 | 6,956,553 |
The Andersons, Inc. | 259,585 | 6,785,552 |
The Chefs' Warehouse, Inc. * | 69,836 | 2,174,693 |
Weis Markets, Inc. | 55,439 | 2,963,215 |
26,460,304 | ||
Food, Beverage & Tobacco 2.1% | ||
B&G Foods, Inc. (a) | 193,803 | 5,878,045 |
Cal-Maine Foods, Inc. * | 85,600 | 3,261,360 |
Calavo Growers, Inc. | 31,219 | 2,349,230 |
Coca-Cola Consolidated, Inc. | 5,082 | 1,304,346 |
Fresh Del Monte Produce, Inc. | 237,993 | 6,125,940 |
Hostess Brands, Inc. * | 113,770 | 1,637,150 |
J&J Snack Foods Corp. | 20,268 | 3,217,748 |
John B Sanfilippo & Son, Inc. | 20,756 | 1,794,564 |
Keurig Dr Pepper, Inc. | 186,851 | 5,702,692 |
Lamb Weston Holdings, Inc. | 75,264 | 6,003,809 |
Lancaster Colony Corp. | 20,931 | 3,656,018 |
Nomad Foods Ltd. * | 190,629 | 4,502,657 |
Pilgrim's Pride Corp. * | 203,375 | 4,553,566 |
Post Holdings, Inc. * | 66,809 | 6,417,673 |
The Boston Beer Co., Inc., Class A * | 4,513 | 4,642,568 |
The Hain Celestial Group, Inc. * | 132,396 | 5,584,463 |
TreeHouse Foods, Inc. * | 151,488 | 7,577,430 |
Universal Corp. | 134,473 | 6,833,918 |
Vector Group Ltd. | 275,722 | 3,763,605 |
84,806,782 | ||
Health Care Equipment & Services 4.0% | ||
ABIOMED, Inc. * | 8,584 | 2,785,937 |
Acadia Healthcare Co., Inc. * | 138,351 | 7,642,509 |
Align Technology, Inc. * | 19,677 | 11,159,023 |
Allscripts Healthcare Solutions, Inc. * | 295,573 | 4,560,691 |
Amedisys, Inc. * | 13,820 | 3,505,305 |
AMN Healthcare Services, Inc. * | 61,431 | 4,476,477 |
Avanos Medical, Inc. * | 50,974 | 2,343,785 |
Brookdale Senior Living, Inc. * | 1,130,254 | 6,578,078 |
Cantel Medical Corp. * | 37,543 | 2,788,694 |
Chemed Corp. | 11,037 | 4,913,783 |
Community Health Systems, Inc. * | 864,817 | 7,402,834 |
CONMED Corp. | 21,673 | 2,667,079 |
Covetrus, Inc. * | 379,136 | 14,088,694 |
Globus Medical, Inc., Class A * | 37,773 | 2,360,813 |
Haemonetics Corp. * | 26,421 | 3,342,257 |
Hill-Rom Holdings, Inc. | 54,358 | 5,798,368 |
HMS Holdings Corp. * | 59,749 | 2,197,867 |
ICU Medical, Inc. * | 10,346 | 2,146,795 |
IDEXX Laboratories, Inc. * | 10,989 | 5,716,148 |
Integer Holdings Corp. * | 27,585 | 2,432,721 |
Integra LifeSciences Holdings Corp. * | 34,154 | 2,334,084 |
Invacare Corp. | 148,344 | 1,349,930 |
LENSAR, Inc. * | 58,230 | 526,399 |
LHC Group, Inc. * | 13,192 | 2,397,118 |
LivaNova plc * | 31,811 | 2,466,625 |
Masimo Corp. * | 15,193 | 3,809,341 |
Merit Medical Systems, Inc. * | 34,657 | 1,931,088 |
ModivCare, Inc. * | 25,648 | 3,289,612 |
National HealthCare Corp. | 31,323 | 2,178,515 |
Security | Number of Shares | Value ($) |
Neogen Corp. * | 19,181 | 1,571,308 |
NextGen Healthcare, Inc. * | 102,111 | 1,909,476 |
NuVasive, Inc. * | 43,683 | 2,635,395 |
Omnicell, Inc. * | 18,572 | 2,356,787 |
Premier, Inc., Class A | 71,830 | 2,429,291 |
Select Medical Holdings Corp. * | 207,740 | 6,574,971 |
Teleflex, Inc. | 16,748 | 6,667,714 |
The Ensign Group, Inc. | 49,949 | 4,096,817 |
Tivity Health, Inc. * | 124,465 | 2,962,267 |
Triple-S Management Corp., Class B * | 145,779 | 3,688,209 |
Varex Imaging Corp. * | 95,866 | 2,198,207 |
Veeva Systems, Inc., Class A * | 8,763 | 2,454,604 |
West Pharmaceutical Services, Inc. | 23,920 | 6,713,148 |
165,448,764 | ||
Household & Personal Products 1.0% | ||
Central Garden & Pet Co. * | 15,297 | 697,543 |
Central Garden & Pet Co., Class A * | 62,386 | 2,589,643 |
Coty, Inc., Class A * | 1,142,950 | 8,766,427 |
Edgewell Personal Care Co. | 189,846 | 5,807,389 |
Energizer Holdings, Inc. | 58,164 | 2,431,255 |
Herbalife Nutrition Ltd. * | 139,892 | 6,292,342 |
Medifast, Inc. | 9,588 | 2,425,668 |
Spectrum Brands Holdings, Inc. | 65,272 | 5,061,844 |
USANA Health Sciences, Inc. * | 30,055 | 2,917,138 |
WD-40 Co. | 8,258 | 2,574,432 |
39,563,681 | ||
Insurance 2.2% | ||
Ambac Financial Group, Inc. * | 125,607 | 2,129,039 |
American Equity Investment Life Holding Co. | 250,895 | 6,932,229 |
American National Group, Inc. | 16,372 | 1,473,807 |
AMERISAFE, Inc. | 28,339 | 1,658,398 |
Argo Group International Holdings Ltd. | 73,380 | 3,390,890 |
Brighthouse Financial, Inc. * | 131,702 | 5,253,593 |
Brown & Brown, Inc. | 153,083 | 7,026,510 |
CNA Financial Corp. | 72,025 | 3,063,943 |
Employers Holdings, Inc. | 50,827 | 1,692,031 |
Horace Mann Educators Corp. | 46,834 | 1,804,982 |
James River Group Holdings Ltd. | 54,282 | 2,492,087 |
Kemper Corp. | 62,994 | 4,763,606 |
MBIA, Inc. * | 395,095 | 2,884,194 |
Mercury General Corp. | 62,331 | 3,640,130 |
ProAssurance Corp. | 331,106 | 8,194,873 |
RLI Corp. | 30,797 | 3,213,359 |
Safety Insurance Group, Inc. | 24,101 | 1,905,907 |
Selective Insurance Group, Inc. | 65,779 | 4,461,790 |
Stewart Information Services Corp. | 86,693 | 4,091,910 |
The Hanover Insurance Group, Inc. | 62,283 | 7,184,344 |
United Fire Group, Inc. | 50,744 | 1,494,411 |
Universal Insurance Holdings, Inc. | 104,589 | 1,557,330 |
White Mountains Insurance Group Ltd. | 6,734 | 8,047,534 |
88,356,897 | ||
Materials 7.2% | ||
AdvanSix, Inc. * | 174,211 | 4,843,066 |
Allegheny Technologies, Inc. * | 403,200 | 7,926,912 |
Alpha Metallurgical Resources, Inc. * | 444,722 | 6,670,830 |
Avient Corp. | 194,830 | 8,420,553 |
Axalta Coating Systems Ltd. * | 271,678 | 7,427,677 |
Balchem Corp. | 21,325 | 2,545,352 |
Cabot Corp. | 156,633 | 7,711,043 |
Carpenter Technology Corp. | 197,798 | 8,042,467 |
Century Aluminum Co. * | 227,220 | 3,119,731 |
Security | Number of Shares | Value ($) |
Clearwater Paper Corp. * | 94,106 | 3,294,651 |
Cleveland-Cliffs, Inc. | 1,055,455 | 14,079,770 |
Compass Minerals International, Inc. | 73,071 | 4,610,049 |
Constellium SE * | 207,591 | 2,748,505 |
Eagle Materials, Inc. | 66,057 | 8,282,227 |
Element Solutions, Inc. | 242,065 | 4,369,273 |
Ferro Corp. * | 128,717 | 2,042,739 |
FMC Corp. | 52,767 | 5,365,876 |
GCP Applied Technologies, Inc. * | 104,038 | 2,579,102 |
Glatfelter Corp. | 140,888 | 2,261,252 |
Greif, Inc., Class A | 91,319 | 4,410,708 |
H.B. Fuller Co. | 84,557 | 4,741,111 |
Hecla Mining Co. | 487,345 | 3,182,363 |
Ingevity Corp. * | 41,341 | 2,872,373 |
Innospec, Inc. | 38,002 | 3,817,301 |
Kaiser Aluminum Corp. | 48,242 | 5,504,412 |
Kraton Corp. * | 158,451 | 5,892,793 |
Livent Corp. * | 143,038 | 2,663,368 |
Louisiana-Pacific Corp. | 225,476 | 10,734,912 |
Materion Corp. | 49,783 | 3,409,140 |
Mercer International, Inc. | 168,912 | 2,596,177 |
Minerals Technologies, Inc. | 79,513 | 5,663,711 |
Myers Industries, Inc. | 85,402 | 1,890,800 |
Neenah, Inc. | 46,093 | 2,549,865 |
NewMarket Corp. | 11,426 | 4,330,225 |
Orion Engineered Carbons S.A. | 198,790 | 3,518,583 |
Quaker Chemical Corp. | 8,135 | 2,297,161 |
Rayonier Advanced Materials, Inc. * | 624,573 | 5,777,300 |
Royal Gold, Inc. | 22,345 | 2,317,400 |
Schnitzer Steel Industries, Inc., Class A | 201,586 | 6,962,780 |
Schweitzer-Mauduit International, Inc. | 85,195 | 3,978,607 |
Sensient Technologies Corp. | 70,758 | 5,508,510 |
Silgan Holdings, Inc. | 149,345 | 5,609,398 |
Southern Copper Corp. | 93,221 | 6,649,454 |
Stepan Co. | 35,583 | 4,294,512 |
Summit Materials, Inc., Class A * | 210,308 | 5,827,635 |
SunCoke Energy, Inc. | 486,491 | 3,108,677 |
The Scotts Miracle-Gro Co. | 36,074 | 7,689,173 |
TimkenSteel Corp. * | 474,077 | 3,830,542 |
Trinseo S.A. | 229,182 | 14,830,367 |
Tronox Holdings plc, Class A | 254,234 | 4,662,652 |
US Concrete, Inc. * | 58,055 | 2,987,510 |
Valvoline, Inc. | 144,716 | 3,612,111 |
Verso Corp., Class A | 278,396 | 3,479,950 |
W.R. Grace & Co. | 94,522 | 5,601,374 |
Warrior Met Coal, Inc. | 393,377 | 7,541,037 |
Westlake Chemical Corp. | 89,187 | 7,633,515 |
Worthington Industries, Inc. | 124,356 | 7,945,105 |
296,263,687 | ||
Media & Entertainment 4.0% | ||
AMC Entertainment Holdings, Inc., Class A (a) | 731,849 | 5,862,111 |
AMC Networks, Inc., Class A * | 206,990 | 13,576,474 |
Cable One, Inc. | 1,875 | 3,590,344 |
Cars.com, Inc. * | 315,142 | 3,677,707 |
Gannett Co., Inc. * | 1,432,685 | 7,091,791 |
Gray Television, Inc. * | 150,195 | 2,726,039 |
iHeartMedia, Inc., Class A * | 324,232 | 4,561,944 |
John Wiley & Sons, Inc., Class A | 128,818 | 6,786,132 |
Liberty Media Corp. - Liberty Formula One, Class A * | 10,722 | 415,692 |
Liberty Media Corp. - Liberty Formula One, Class C * | 83,064 | 3,646,510 |
Liberty TripAdvisor Holdings, Inc., Class A * | 439,606 | 2,474,982 |
Lions Gate Entertainment Corp., Class A * | 131,646 | 1,911,500 |
Security | Number of Shares | Value ($) |
Lions Gate Entertainment Corp., Class B * | 297,219 | 3,727,126 |
Live Nation Entertainment, Inc. * | 72,991 | 6,485,980 |
Madison Square Garden Entertainment Corp. * | 11,625 | 1,252,826 |
Madison Square Garden Sports Corp. * | 11,450 | 2,202,408 |
Meredith Corp. * | 189,908 | 4,705,920 |
MSG Networks, Inc., Class A * | 112,141 | 1,901,911 |
National CineMedia, Inc. | 453,247 | 2,139,326 |
Nexstar Media Group, Inc., Class A | 54,450 | 7,489,598 |
Scholastic Corp. | 132,391 | 3,812,861 |
Sinclair Broadcast Group, Inc., Class A | 248,570 | 7,688,270 |
Sirius XM Holdings, Inc. | 823,988 | 4,820,330 |
Spotify Technology S.A. * | 10,590 | 3,255,154 |
Take-Two Interactive Software, Inc. * | 34,640 | 6,389,694 |
TEGNA, Inc. | 507,518 | 9,252,053 |
The E.W. Scripps Co., Class A | 113,370 | 2,133,623 |
The Marcus Corp. * | 84,145 | 1,652,608 |
The New York Times Co., Class A | 81,643 | 4,177,672 |
TripAdvisor, Inc. * | 179,771 | 8,920,237 |
Twitter, Inc. * | 139,150 | 10,722,899 |
Yandex N.V., Class A * | 97,935 | 6,266,371 |
Yelp, Inc. * | 84,703 | 3,194,150 |
Zynga, Inc., Class A * | 352,200 | 3,927,030 |
162,439,273 | ||
Pharmaceuticals, Biotechnology & Life Sciences 1.9% | ||
Alkermes plc * | 77,102 | 1,468,022 |
Bio-Rad Laboratories, Inc., Class A * | 8,294 | 4,847,843 |
Bio-Techne Corp. | 11,011 | 3,982,569 |
BioMarin Pharmaceutical, Inc. * | 22,282 | 1,725,295 |
Bruker Corp. | 67,088 | 4,091,026 |
Catalent, Inc. * | 51,417 | 5,846,627 |
Charles River Laboratories International, Inc. * | 21,192 | 6,063,879 |
Elanco Animal Health, Inc. * | 262,786 | 8,635,148 |
Emergent BioSolutions, Inc. * | 19,740 | 1,895,040 |
Horizon Therapeutics plc * | 23,342 | 2,122,021 |
Incyte Corp. * | 25,107 | 1,974,917 |
Lannett Co., Inc. * | 187,143 | 1,134,086 |
Myriad Genetics, Inc. * | 228,010 | 6,952,025 |
Nektar Therapeutics * | 72,894 | 1,653,965 |
PDL BioPharma, Inc. *(b) | 823,323 | 2,033,608 |
PerkinElmer, Inc. | 60,680 | 7,651,141 |
PRA Health Sciences, Inc. * | 32,904 | 4,850,379 |
Prestige Consumer Healthcare, Inc. * | 60,080 | 2,505,937 |
Syneos Health, Inc. * | 41,286 | 3,193,472 |
Taro Pharmaceutical Industries Ltd. * | 25,254 | 1,805,661 |
Vertex Pharmaceuticals, Inc. * | 12,434 | 2,642,847 |
77,075,508 | ||
Real Estate 9.2% | ||
Acadia Realty Trust | 125,392 | 2,371,163 |
Alexander & Baldwin, Inc. | 232,379 | 4,059,661 |
American Assets Trust, Inc. | 51,290 | 1,594,093 |
American Campus Communities, Inc. | 173,223 | 7,095,214 |
American Finance Trust, Inc. | 195,912 | 1,735,780 |
American Homes 4 Rent, Class A | 135,455 | 4,218,069 |
Americold Realty Trust | 66,189 | 2,319,263 |
Apartment Income REIT Corp. | 167,226 | 6,836,199 |
Apartment Investment & Management Co., Class A | 167,859 | 799,009 |
Ashford Hospitality Trust, Inc. *(a) | 668,826 | 2,294,073 |
Brandywine Realty Trust | 344,889 | 4,217,992 |
Brookfield Property REIT, Inc., Class A | 182,757 | 3,198,248 |
Centerspace | 20,300 | 1,393,189 |
Chatham Lodging Trust * | 188,030 | 2,619,258 |
Security | Number of Shares | Value ($) |
Columbia Property Trust, Inc. | 273,767 | 3,865,590 |
CorePoint Lodging, Inc. | 396,557 | 3,612,634 |
CoreSite Realty Corp. | 16,712 | 2,034,018 |
Corporate Office Properties Trust | 145,650 | 3,786,900 |
Cousins Properties, Inc. | 81,830 | 2,744,578 |
CubeSmart | 142,243 | 5,257,301 |
Cushman & Wakefield plc * | 108,226 | 1,675,338 |
CyrusOne, Inc. | 52,281 | 3,431,202 |
DiamondRock Hospitality Co. * | 643,792 | 6,515,175 |
Douglas Emmett, Inc. | 146,267 | 4,790,244 |
EastGroup Properties, Inc. | 16,469 | 2,241,596 |
Empire State Realty Trust, Inc., Class A | 354,931 | 3,907,790 |
EPR Properties | 114,753 | 5,184,541 |
Equity Commonwealth | 115,800 | 3,266,718 |
Equity LifeStyle Properties, Inc. | 79,178 | 4,881,324 |
Federal Realty Investment Trust | 72,149 | 7,299,314 |
First Industrial Realty Trust, Inc. | 68,615 | 2,930,547 |
Franklin Street Properties Corp. | 382,099 | 1,895,211 |
Gaming & Leisure Properties, Inc. | 155,686 | 6,912,458 |
Global Net Lease, Inc. | 103,691 | 1,926,579 |
Healthcare Realty Trust, Inc. | 113,910 | 3,287,443 |
Healthcare Trust of America, Inc., Class A | 158,933 | 4,316,620 |
Hersha Hospitality Trust * | 267,593 | 2,975,634 |
Highwoods Properties, Inc. | 137,608 | 5,498,816 |
Hudson Pacific Properties, Inc. | 152,572 | 3,904,317 |
Invitation Homes, Inc. | 231,476 | 6,745,211 |
iStar, Inc. | 131,576 | 2,331,527 |
JBG SMITH Properties | 89,529 | 2,842,546 |
Kennedy-Wilson Holdings, Inc. | 167,803 | 3,147,984 |
Kilroy Realty Corp. | 84,630 | 5,370,620 |
Kite Realty Group Trust | 220,846 | 4,233,618 |
Lexington Realty Trust | 317,548 | 3,404,115 |
Life Storage, Inc. | 56,471 | 4,737,917 |
LTC Properties, Inc. | 33,319 | 1,363,080 |
Mack-Cali Realty Corp. | 184,364 | 2,575,565 |
Marcus & Millichap, Inc. * | 39,119 | 1,481,437 |
Medical Properties Trust, Inc. | 242,702 | 5,239,936 |
National Health Investors, Inc. | 31,767 | 2,168,733 |
National Retail Properties, Inc. | 117,836 | 5,165,930 |
New Senior Investment Group, Inc. | 422,687 | 2,582,618 |
Newmark Group, Inc., Class A | 228,569 | 2,290,261 |
Office Properties Income Trust | 94,627 | 2,393,117 |
Omega Healthcare Investors, Inc. | 195,033 | 7,243,526 |
Paramount Group, Inc. | 381,260 | 3,534,280 |
Pebblebrook Hotel Trust | 222,447 | 5,040,649 |
Pennsylvania Real Estate Investment Trust | 1,197,703 | 2,395,406 |
Physicians Realty Trust | 116,518 | 1,980,806 |
Piedmont Office Realty Trust, Inc., Class A | 282,829 | 4,825,063 |
PotlatchDeltic Corp. | 62,755 | 3,184,816 |
Preferred Apartment Communities, Inc., Class A | 152,414 | 1,254,367 |
PS Business Parks, Inc. | 15,295 | 2,215,634 |
QTS Realty Trust, Inc., Class A | 31,466 | 1,954,668 |
Rayonier, Inc. | 190,271 | 6,210,445 |
Regency Centers Corp. | 144,967 | 7,941,292 |
Retail Opportunity Investments Corp. | 156,419 | 2,472,984 |
Retail Properties of America, Inc., Class A | 656,482 | 6,912,755 |
RLJ Lodging Trust | 593,752 | 9,321,906 |
RPT Realty | 257,606 | 2,825,938 |
Ryman Hospitality Properties, Inc. | 79,198 | 6,121,213 |
Sabra Health Care REIT, Inc. | 182,864 | 3,148,918 |
SBA Communications Corp. | 19,805 | 5,052,850 |
Seritage Growth Properties, Class A * | 96,000 | 1,938,240 |
SITE Centers Corp. | 552,803 | 7,374,392 |
Spirit Realty Capital, Inc. | 120,474 | 5,182,791 |
STAG Industrial, Inc. | 63,891 | 2,015,761 |
STORE Capital Corp. | 109,988 | 3,677,999 |
Summit Hotel Properties, Inc. * | 313,714 | 3,246,940 |
Security | Number of Shares | Value ($) |
Sun Communities, Inc. | 39,155 | 5,949,602 |
Sunstone Hotel Investors, Inc. | 666,576 | 8,805,469 |
Tanger Factory Outlet Centers, Inc. | 448,385 | 7,057,580 |
The GEO Group, Inc. | 554,732 | 3,994,070 |
The Howard Hughes Corp. * | 38,270 | 3,630,675 |
Uniti Group, Inc. | 650,046 | 7,742,048 |
Urban Edge Properties | 191,163 | 3,154,190 |
VICI Properties, Inc. | 206,122 | 5,874,477 |
Washington Prime Group, Inc. (a) | 667,478 | 4,158,388 |
Washington Real Estate Investment Trust | 107,847 | 2,428,714 |
Weingarten Realty Investors | 202,340 | 5,137,413 |
Xenia Hotels & Resorts, Inc. | 402,373 | 8,035,389 |
374,008,968 | ||
Retailing 4.9% | ||
At Home Group, Inc. * | 152,700 | 3,846,513 |
Caleres, Inc. | 480,278 | 7,617,209 |
Chico's FAS, Inc. | 4,030,481 | 10,841,994 |
Conn's, Inc. * | 177,526 | 2,519,094 |
Designer Brands, Inc., Class A | 865,866 | 10,814,666 |
Dillard's, Inc., Class A | 182,813 | 14,570,196 |
Express, Inc. *(a) | 3,010,058 | 8,097,056 |
Five Below, Inc. * | 24,522 | 4,564,035 |
Floor & Decor Holdings, Inc., Class A * | 22,179 | 2,109,001 |
Genesco, Inc. * | 235,229 | 10,571,191 |
Groupon, Inc. * | 120,631 | 5,235,385 |
GrubHub, Inc. * | 29,697 | 1,902,687 |
Guess?, Inc. | 316,532 | 7,979,772 |
Haverty Furniture Cos., Inc. | 102,223 | 3,697,406 |
Hibbett Sports, Inc. * | 116,577 | 7,491,238 |
Lumber Liquidators Holdings, Inc. * | 94,729 | 2,346,437 |
MarineMax, Inc. * | 66,394 | 2,964,492 |
MercadoLibre, Inc. * | 1,977 | 3,238,544 |
Monro, Inc. | 54,649 | 3,387,692 |
National Vision Holdings, Inc. * | 65,902 | 3,129,686 |
Ollie's Bargain Outlet Holdings, Inc. * | 28,768 | 2,378,538 |
Party City Holdco, Inc. * | 1,511,707 | 11,579,676 |
Pool Corp. | 19,872 | 6,652,549 |
Rent-A-Center, Inc. | 63,540 | 3,670,070 |
RH * | 5,122 | 2,511,675 |
Sally Beauty Holdings, Inc. * | 582,010 | 9,370,361 |
Shoe Carnival, Inc. | 59,227 | 2,899,754 |
Sleep Number Corp. * | 57,778 | 7,923,097 |
Sonic Automotive, Inc., Class A | 139,362 | 6,425,982 |
Stamps.com, Inc. * | 9,991 | 1,817,663 |
The Buckle, Inc. | 145,357 | 5,587,523 |
The Cato Corp., Class A | 271,850 | 3,354,629 |
The Children's Place, Inc. * | 99,012 | 6,856,581 |
The Michaels Cos., Inc. * | 718,460 | 10,776,900 |
Zumiez, Inc. * | 73,617 | 3,318,654 |
202,047,946 | ||
Semiconductors & Semiconductor Equipment 2.4% | ||
Advanced Energy Industries, Inc. | 35,300 | 3,687,085 |
Advanced Micro Devices, Inc. * | 52,589 | 4,444,296 |
Ambarella, Inc. * | 20,758 | 2,335,067 |
Amkor Technology, Inc. | 329,275 | 7,866,380 |
Brooks Automation, Inc. | 35,051 | 2,914,841 |
Cirrus Logic, Inc. * | 79,497 | 6,501,265 |
CMC Materials, Inc. | 13,745 | 2,343,523 |
Cree, Inc. * | 100,300 | 11,380,038 |
Diodes, Inc. * | 43,281 | 3,398,424 |
Entegris, Inc. | 54,023 | 5,683,760 |
First Solar, Inc. * | 112,414 | 9,107,782 |
Kulicke & Soffa Industries, Inc. | 105,998 | 5,285,060 |
MKS Instruments, Inc. | 48,170 | 7,943,233 |
Security | Number of Shares | Value ($) |
Monolithic Power Systems, Inc. | 8,434 | 3,158,702 |
Photronics, Inc. * | 150,818 | 1,796,242 |
Power Integrations, Inc. | 37,121 | 3,280,383 |
Semtech Corp. * | 39,183 | 2,872,506 |
Silicon Laboratories, Inc. * | 23,411 | 3,646,029 |
Synaptics, Inc. * | 55,522 | 7,441,614 |
Ultra Clean Holdings, Inc. * | 52,638 | 2,441,350 |
97,527,580 | ||
Software & Services 3.7% | ||
ACI Worldwide, Inc. * | 103,945 | 3,976,936 |
Aspen Technology, Inc. * | 28,827 | 4,338,752 |
Black Knight, Inc. * | 64,739 | 4,964,834 |
Blackbaud, Inc. * | 24,668 | 1,697,652 |
Cardtronics plc, Class A * | 68,883 | 2,655,440 |
Cerence, Inc. * | 47,684 | 5,303,414 |
Cognyte Software Ltd. * | 48,817 | 1,409,347 |
CommVault Systems, Inc. * | 49,880 | 3,178,852 |
CSG Systems International, Inc. | 51,729 | 2,387,293 |
Ebix, Inc. | 51,978 | 1,267,224 |
EPAM Systems, Inc. * | 13,330 | 4,980,221 |
Euronet Worldwide, Inc. * | 41,054 | 6,170,827 |
EVERTEC, Inc. | 52,211 | 2,031,008 |
ExlService Holdings, Inc. * | 28,865 | 2,442,556 |
Fair Isaac Corp. * | 9,960 | 4,557,198 |
Fortinet, Inc. * | 22,745 | 3,840,493 |
Gartner, Inc. * | 47,109 | 8,434,395 |
GoDaddy, Inc., Class A * | 26,878 | 2,180,343 |
InterDigital, Inc. | 63,001 | 3,992,373 |
j2 Global, Inc. * | 52,234 | 5,817,823 |
LiveRamp Holdings, Inc. * | 87,815 | 5,546,395 |
Manhattan Associates, Inc. * | 42,308 | 5,201,769 |
MicroStrategy, Inc., Class A * | 9,078 | 6,812,222 |
NIC, Inc. | 60,934 | 2,115,019 |
Nuance Communications, Inc. * | 103,068 | 4,596,833 |
Palo Alto Networks, Inc. * | 5,989 | 2,145,919 |
Paycom Software, Inc. * | 3,970 | 1,485,733 |
Pegasystems, Inc. | 11,392 | 1,507,731 |
Perficient, Inc. * | 34,405 | 1,916,014 |
Progress Software Corp. | 54,475 | 2,317,367 |
PTC, Inc. * | 35,157 | 4,814,400 |
Square, Inc., Class A * | 12,458 | 2,865,714 |
SS&C Technologies Holdings, Inc. | 82,764 | 5,485,598 |
Sykes Enterprises, Inc. * | 98,607 | 4,029,082 |
Tyler Technologies, Inc. * | 7,153 | 3,314,843 |
Unisys Corp. * | 113,364 | 2,783,086 |
Verint Systems, Inc. * | 48,549 | 2,392,980 |
VMware, Inc., Class A * | 42,087 | 5,816,844 |
WEX, Inc. * | 21,350 | 4,448,273 |
Xperi Holding Corp. | 277,122 | 5,847,274 |
151,070,077 | ||
Technology Hardware & Equipment 4.4% | ||
3D Systems Corp. * | 158,450 | 5,678,848 |
ADTRAN, Inc. | 201,353 | 3,390,785 |
Arista Networks, Inc. * | 14,236 | 3,983,802 |
Badger Meter, Inc. | 20,759 | 2,254,220 |
Belden, Inc. | 114,395 | 5,057,403 |
Benchmark Electronics, Inc. | 260,540 | 7,399,336 |
Ciena Corp. * | 114,552 | 5,976,178 |
Cognex Corp. | 62,573 | 5,167,904 |
Coherent, Inc. * | 30,918 | 7,480,301 |
Comtech Telecommunications Corp. | 70,721 | 1,900,980 |
CTS Corp. | 52,885 | 1,701,310 |
Diebold Nixdorf, Inc. * | 197,861 | 2,872,942 |
Dolby Laboratories, Inc., Class A | 48,260 | 4,711,624 |
Security | Number of Shares | Value ($) |
EchoStar Corp., Class A * | 111,792 | 2,537,678 |
ePlus, Inc. * | 33,652 | 3,182,133 |
Fabrinet * | 39,791 | 3,514,739 |
II-VI, Inc. * | 58,158 | 4,902,719 |
IPG Photonics Corp. * | 26,065 | 5,925,878 |
Itron, Inc. * | 34,887 | 4,090,152 |
Keysight Technologies, Inc. * | 61,112 | 8,648,570 |
Knowles Corp. * | 148,385 | 3,084,924 |
Littelfuse, Inc. | 19,684 | 5,122,170 |
Lumentum Holdings, Inc. * | 25,581 | 2,302,290 |
Methode Electronics, Inc. | 80,930 | 3,150,605 |
MTS Systems Corp. | 52,675 | 3,074,113 |
National Instruments Corp. | 138,725 | 6,159,390 |
NETGEAR, Inc. * | 74,617 | 2,984,680 |
NetScout Systems, Inc. * | 187,139 | 5,281,063 |
OSI Systems, Inc. * | 27,866 | 2,636,681 |
PC Connection, Inc. | 52,433 | 2,412,442 |
Plantronics, Inc. * | 182,444 | 7,387,158 |
Plexus Corp. * | 69,387 | 5,827,120 |
Rogers Corp. * | 18,869 | 3,424,346 |
ScanSource, Inc. * | 202,936 | 5,771,500 |
Stratasys Ltd. * | 89,671 | 3,092,753 |
TTM Technologies, Inc. * | 324,940 | 4,588,153 |
ViaSat, Inc. * | 86,789 | 4,438,389 |
Viavi Solutions, Inc. * | 122,954 | 1,990,011 |
Vishay Intertechnology, Inc. | 340,715 | 8,132,867 |
Zebra Technologies Corp., Class A * | 20,030 | 10,003,583 |
181,241,740 | ||
Telecommunication Services 0.5% | ||
ATN International, Inc. | 23,240 | 1,131,323 |
Cincinnati Bell, Inc. * | 150,250 | 2,295,820 |
Cogent Communications Holdings, Inc. | 29,848 | 1,786,403 |
Consolidated Communications Holdings, Inc. * | 547,707 | 2,880,939 |
Iridium Communications, Inc. * | 52,419 | 2,008,172 |
Liberty Latin America Ltd., Class A * | 135,295 | 1,484,186 |
Liberty Latin America Ltd., Class C * | 358,444 | 3,928,546 |
Shenandoah Telecommunications Co. | 35,925 | 1,593,274 |
United States Cellular Corp. * | 55,003 | 1,618,738 |
Vonage Holdings Corp. * | 189,729 | 2,508,218 |
21,235,619 | ||
Transportation 2.4% | ||
Air Transport Services Group, Inc. * | 90,802 | 2,409,885 |
Alaska Air Group, Inc. * | 112,858 | 7,338,027 |
Allegiant Travel Co. * | 10,622 | 2,678,762 |
AMERCO | 15,243 | 8,760,457 |
ArcBest Corp. | 175,674 | 10,363,009 |
Atlas Air Worldwide Holdings, Inc. * | 28,862 | 1,591,162 |
Atlas Corp. | 282,680 | 3,796,392 |
Copa Holdings S.A., Class A * | 25,721 | 2,357,844 |
Costamare, Inc. | 220,166 | 2,124,602 |
Echo Global Logistics, Inc. * | 100,371 | 2,796,336 |
Forward Air Corp. | 60,762 | 5,211,557 |
Hawaiian Holdings, Inc. * | 93,302 | 2,502,360 |
Heartland Express, Inc. | 88,834 | 1,616,779 |
Hub Group, Inc., Class A * | 106,452 | 6,129,506 |
JetBlue Airways Corp. * | 384,279 | 7,082,262 |
Marten Transport Ltd. | 106,030 | 1,715,565 |
Saia, Inc. * | 28,147 | 5,644,318 |
Schneider National, Inc., Class B | 146,336 | 3,384,752 |
SEACOR Holdings, Inc. * | 48,948 | 2,080,779 |
SkyWest, Inc. | 43,582 | 2,456,717 |
Spirit Airlines, Inc. * | 90,302 | 3,240,036 |
Uber Technologies, Inc. * | 53,263 | 2,756,360 |
Security | Number of Shares | Value ($) |
Werner Enterprises, Inc. | 103,267 | 4,432,220 |
Yellow Corp. * | 644,049 | 3,844,973 |
96,314,660 | ||
Utilities 2.3% | ||
ALLETE, Inc. | 92,235 | 5,730,561 |
American States Water Co. | 27,287 | 1,993,315 |
Atlantica Sustainable Infrastructure plc | 92,172 | 3,332,018 |
Avangrid, Inc. | 80,210 | 3,670,410 |
Avista Corp. | 132,230 | 5,316,968 |
Black Hills Corp. | 85,478 | 5,056,878 |
California Water Service Group | 44,517 | 2,446,209 |
Chesapeake Utilities Corp. | 16,323 | 1,725,831 |
Clearway Energy, Inc., Class A | 26,598 | 695,538 |
Clearway Energy, Inc., Class C | 54,210 | 1,488,607 |
Essential Utilities, Inc. | 116,876 | 4,915,805 |
Hawaiian Electric Industries, Inc. | 173,075 | 6,050,702 |
IDACORP, Inc. | 60,485 | 5,216,226 |
MGE Energy, Inc. | 34,026 | 2,167,456 |
National Fuel Gas Co. | 132,512 | 6,021,345 |
New Jersey Resources Corp. | 138,785 | 5,452,863 |
Northwest Natural Holding Co. | 40,648 | 1,950,697 |
NorthWestern Corp. | 83,073 | 4,858,109 |
ONE Gas, Inc. | 65,939 | 4,415,935 |
Ormat Technologies, Inc. | 33,626 | 2,880,739 |
Otter Tail Corp. | 61,102 | 2,475,853 |
PNM Resources, Inc. | 109,959 | 5,279,132 |
SJW Group | 21,948 | 1,375,701 |
South Jersey Industries, Inc. | 128,006 | 3,214,231 |
Spire, Inc. | 77,091 | 5,120,384 |
Unitil Corp. | 28,967 | 1,211,979 |
94,063,492 | ||
Total Common Stock | ||
(Cost $3,186,381,600) | 4,081,706,446 | |
Other Investment Companies 0.5% of net assets | ||
Money Market Fund 0.1% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (c) | 1,381,377 | 1,381,377 |
Securities Lending Collateral 0.4% | ||
Wells Fargo Government Money Market Fund, Select Class 0.03% (c) | 17,211,830 | 17,211,830 |
Total Other Investment Companies | ||
(Cost $18,593,207) | 18,593,207 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
Long | ||||||
Russell 2000 Index, e-mini, expires 03/19/21 | 40 | 4,398,400 | (74,680) |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $16,139,000. |
(b) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees. |
(c) | The rate shown is the 7-day yield. |
REIT — | Real Estate Investment Trust |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $4,004,630,938 | $— | $— | $4,004,630,938 | |
Pharmaceuticals, Biotechnology & Life Sciences | 75,041,900 | — | 2,033,608 | 77,075,508 | |
Other Investment Companies1 | 18,593,207 | — | — | 18,593,207 | |
Liabilities | |||||
Futures Contracts2 | (74,680) | — | — | (74,680) | |
Total | $4,098,191,365 | $— | $2,033,608 | $4,100,224,973 |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments in unaffiliated issuers, at value (cost $3,187,762,977) including securities on loan of $16,139,000 | $4,083,087,823 | |
Collateral invested for securities on loan, at value (cost $17,211,830) | 17,211,830 | |
Deposit with broker for futures contracts | 642,000 | |
Receivables: | ||
Investments sold | 41,847,914 | |
Fund shares sold | 4,875,441 | |
Dividends | 2,942,495 | |
Income from securities on loan | 43,398 | |
Variation margin on futures contracts | + | 856 |
Total assets | 4,150,651,757 | |
Liabilities | ||
Collateral held for securities on loan | 17,211,830 | |
Payables: | ||
Investments bought | 15,238,904 | |
Management fees | 787,363 | |
Fund shares redeemed | + | 31,795,249 |
Total liabilities | 65,033,346 | |
Net Assets | ||
Total assets | 4,150,651,757 | |
Total liabilities | – | 65,033,346 |
Net assets | $4,085,618,411 | |
Net Assets by Source | ||
Capital received from investors | 3,680,225,275 | |
Total distributable earnings | 405,393,136 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$4,085,618,411 | 83,800,000 | $48.75 | ||
Investment Income | ||
Dividends received from unaffiliated issuers (net of foreign withholding tax of $96,380) | $49,467,831 | |
Securities on loan, net | + | 4,389,339 |
Total investment income | 53,857,170 | |
Expenses | ||
Management fees | 8,141,286 | |
Total expenses | – | 8,141,286 |
Net investment income | 45,715,884 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on unaffiliated issuers | (340,381,105) | |
Net realized gains on in-kind redemptions on unaffiliated issuers | 414,516,200 | |
Net realized gains on futures contracts | + | 228,597 |
Net realized gains | 74,363,692 | |
Net change in unrealized appreciation (depreciation) on unaffiliated issuers | 1,137,880,398 | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | 620,009 |
Net change in unrealized appreciation (depreciation) | + | 1,138,500,407 |
Net realized and unrealized gains | 1,212,864,099 | |
Increase in net assets resulting from operations | $1,258,579,983 |
Operations | ||||
3/1/20-2/28/21 | 3/1/19-2/29/20 | |||
Net investment income | $45,715,884 | $50,275,344 | ||
Net realized gains | 74,363,692 | 111,141,879 | ||
Net change in unrealized appreciation (depreciation) | + | 1,138,500,407 | (444,489,381) | |
Increase (decrease) in net assets resulting from operations | 1,258,579,983 | (283,072,158) | ||
Distributions to Shareholders | ||||
Total distributions | ($51,561,985) | ($50,954,980) |
Transactions in Fund Shares | ||||||||
3/1/20-2/28/21 | 3/1/19-2/29/20 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 30,900,000 | $953,673,482 | 27,150,000 | $1,041,018,392 | ||||
Shares redeemed | + | (45,700,000) | (1,499,782,894) | (17,900,000) | (685,064,295) | |||
Net transactions in fund shares | (14,800,000) | ($546,109,412) | 9,250,000 | $355,954,097 | ||||
Shares Outstanding and Net Assets | ||||||||
3/1/20-2/28/21 | 3/1/19-2/29/20 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 98,600,000 | $3,424,709,825 | 89,350,000 | $3,402,782,866 | ||||
Total increase (decrease) | + | (14,800,000) | 660,908,586 | 9,250,000 | 21,926,959 | |||
End of period | 83,800,000 | $4,085,618,411 | 98,600,000 | $3,424,709,825 |
3/1/20– 2/28/21 | 3/1/19– 2/29/20 | 3/1/18– 2/28/19 | 3/1/17– 2/28/18 | 3/1/16– 2/28/17 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $25.24 | $27.54 | $30.28 | $26.00 | $22.08 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.70 | 0.91 | 0.94 | 0.80 | 0.74 | |
Net realized and unrealized gains (losses) | 5.64 | (2.29) | (2.81) | 4.19 | 3.79 | |
Total from investment operations | 6.34 | (1.38) | (1.87) | 4.99 | 4.53 | |
Less distributions: | ||||||
Distributions from net investment income | (0.64) | (0.92) | (0.87) | (0.71) | (0.61) | |
Net asset value at end of period | $30.94 | $25.24 | $27.54 | $30.28 | $26.00 | |
Total return | 25.47% | (5.32%) | (6.00%) | 19.19% | 20.62% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.25% | 0.25% | 0.25% | 0.25% | 0.32% | |
Net investment income (loss) | 2.74% | 3.27% | 3.29% | 2.76% | 2.98% | |
Portfolio turnover rate2 | 15% | 20% | 14% | 10% | 11% | |
Net assets, end of period (x 1,000) | $5,721,053 | $4,416,696 | $4,083,580 | $3,630,569 | $1,928,861 | |
Security | Number of Shares | Value ($) |
Common Stock 98.4% of net assets | ||
Australia 5.5% | ||
AGL Energy Ltd. | 349,398 | 2,534,622 |
Amcor plc | 243,547 | 2,685,010 |
AMP Ltd. | 3,107,769 | 3,609,052 |
Ampol Ltd. | 210,215 | 4,000,357 |
APA Group | 213,946 | 1,538,768 |
Aristocrat Leisure Ltd. | 49,235 | 1,157,254 |
Aurizon Holdings Ltd. | 721,733 | 2,128,897 |
Australia & New Zealand Banking Group Ltd. | 1,295,184 | 26,241,480 |
Bendigo & Adelaide Bank Ltd. | 230,362 | 1,742,443 |
BHP Group Ltd. | 981,027 | 37,314,778 |
BlueScope Steel Ltd. | 315,462 | 4,073,767 |
Boral Ltd. | 620,438 | 2,488,177 |
Brambles Ltd. | 362,012 | 2,774,670 |
Coca-Cola Amatil Ltd. | 153,408 | 1,590,310 |
Coles Group Ltd. | 350,388 | 4,158,575 |
Commonwealth Bank of Australia | 483,970 | 30,559,679 |
Computershare Ltd. | 104,456 | 1,073,143 |
Crown Resorts Ltd. | 191,219 | 1,473,015 |
CSL Ltd. | 24,706 | 5,022,660 |
Downer EDI Ltd. | 485,770 | 1,936,828 |
Fortescue Metals Group Ltd. | 352,443 | 6,578,687 |
Goodman Group | 111,140 | 1,424,898 |
Incitec Pivot Ltd. * | 925,780 | 1,906,525 |
Insurance Australia Group Ltd. | 849,190 | 3,280,640 |
Lendlease Corp., Ltd. | 318,373 | 3,278,242 |
Macquarie Group Ltd. | 63,531 | 7,007,978 |
Medibank Pvt Ltd. | 1,009,893 | 2,165,750 |
Metcash Ltd. | 905,263 | 2,361,880 |
Mirvac Group | 928,645 | 1,603,274 |
National Australia Bank Ltd. | 1,225,986 | 23,387,260 |
Newcrest Mining Ltd. | 85,615 | 1,633,216 |
Oil Search Ltd. | 446,888 | 1,466,958 |
Orica Ltd. | 123,233 | 1,198,312 |
Origin Energy Ltd. | 771,220 | 2,686,853 |
QBE Insurance Group Ltd. | 469,904 | 3,379,699 |
Ramsay Health Care Ltd. | 29,716 | 1,518,404 |
Rio Tinto Ltd. | 141,137 | 13,897,830 |
Scentre Group | 1,476,373 | 3,291,863 |
Sims Ltd. | 213,918 | 2,230,838 |
Sonic Healthcare Ltd. | 87,304 | 2,144,654 |
South32 Ltd. | 1,763,764 | 3,782,452 |
Stockland | 706,463 | 2,280,755 |
Suncorp Group Ltd. | 738,476 | 5,682,977 |
Tabcorp Holdings Ltd. | 475,141 | 1,636,951 |
Telstra Corp., Ltd. | 2,803,569 | 6,685,211 |
Transurban Group | 202,852 | 2,010,214 |
Viva Energy Group Ltd. | 1,088,480 | 1,403,097 |
Wesfarmers Ltd. | 421,876 | 16,082,590 |
Westpac Banking Corp. | 1,646,346 | 30,360,995 |
Woodside Petroleum Ltd. | 384,990 | 7,323,315 |
Woolworths Group Ltd. | 498,540 | 15,207,204 |
317,003,007 | ||
Security | Number of Shares | Value ($) |
Austria 0.3% | ||
ANDRITZ AG | 29,725 | 1,433,106 |
Erste Group Bank AG * | 121,156 | 4,013,244 |
OMV AG | 102,830 | 4,975,128 |
Raiffeisen Bank International AG * | 82,436 | 1,683,023 |
voestalpine AG | 120,763 | 4,813,757 |
Wienerberger AG | 40,388 | 1,356,955 |
18,275,213 | ||
Belgium 0.7% | ||
Ageas S.A. N.V. | 77,579 | 4,374,924 |
Anheuser-Busch InBev S.A. | 245,438 | 14,138,933 |
Etablissements Franz Colruyt N.V. | 22,481 | 1,354,548 |
Groupe Bruxelles Lambert S.A. | 39,407 | 3,929,895 |
KBC Group N.V. * | 88,955 | 6,437,384 |
Proximus SADP | 85,113 | 1,673,625 |
Solvay S.A. | 38,549 | 4,730,547 |
UCB S.A. | 17,936 | 1,794,778 |
Umicore S.A. | 55,161 | 3,258,002 |
41,692,636 | ||
Canada 6.8% | ||
Agnico Eagle Mines Ltd. | 21,994 | 1,234,166 |
Air Canada * | 85,206 | 1,689,313 |
Alimentation Couche-Tard, Inc., B Shares | 213,936 | 6,463,706 |
ARC Resources Ltd. | 300,158 | 1,806,638 |
Atco Ltd., Class I | 40,442 | 1,185,788 |
Bank of Montreal | 187,302 | 15,383,619 |
Barrick Gold Corp. | 147,827 | 2,773,216 |
Bausch Health Cos., Inc. * | 163,038 | 5,157,719 |
BCE, Inc. | 97,694 | 4,200,225 |
Brookfield Asset Management, Inc., Class A | 231,940 | 9,416,837 |
Canadian Imperial Bank of Commerce | 119,411 | 11,066,740 |
Canadian National Railway Co. | 119,901 | 13,155,962 |
Canadian Natural Resources Ltd. | 460,220 | 12,617,880 |
Canadian Pacific Railway Ltd. | 21,802 | 7,810,145 |
Canadian Tire Corp., Ltd., Class A | 31,763 | 4,125,677 |
Cenovus Energy, Inc. | 1,174,945 | 8,742,482 |
CGI, Inc. * | 54,143 | 4,062,863 |
CI Financial Corp. | 129,713 | 1,825,818 |
Crescent Point Energy Corp. | 1,302,067 | 4,803,043 |
Dollarama, Inc. | 45,409 | 1,737,092 |
Emera, Inc. | 51,115 | 2,024,412 |
Empire Co., Ltd., A Shares | 96,061 | 2,683,790 |
Enbridge, Inc. | 366,918 | 12,456,663 |
Fairfax Financial Holdings Ltd. | 8,357 | 3,422,079 |
Finning International, Inc. | 99,210 | 2,602,499 |
First Quantum Minerals Ltd. | 205,121 | 4,444,288 |
Fortis, Inc. | 85,152 | 3,295,773 |
George Weston Ltd. | 43,638 | 3,221,836 |
Gibson Energy, Inc. | 62,918 | 1,076,464 |
Gildan Activewear, Inc. | 87,957 | 2,686,649 |
Great-West Lifeco, Inc. | 80,127 | 2,061,403 |
H&R Real Estate Investment Trust | 130,785 | 1,417,354 |
Security | Number of Shares | Value ($) |
Hydro One Ltd. | 81,465 | 1,738,692 |
IA Financial Corp., Inc. | 27,757 | 1,433,673 |
Imperial Oil Ltd. | 165,583 | 3,647,796 |
Intact Financial Corp. | 19,219 | 2,159,329 |
Inter Pipeline Ltd. | 172,104 | 2,434,741 |
Keyera Corp. | 71,896 | 1,401,007 |
Kinross Gold Corp. | 198,215 | 1,238,452 |
Linamar Corp. | 38,049 | 2,137,176 |
Loblaw Cos. Ltd. | 77,790 | 3,768,452 |
Magna International, Inc. | 251,288 | 21,276,114 |
Manulife Financial Corp. | 498,895 | 9,997,604 |
Methanex Corp. | 68,817 | 2,666,795 |
Metro, Inc. | 65,727 | 2,746,413 |
National Bank of Canada | 71,214 | 4,509,095 |
Nutrien Ltd. | 207,228 | 11,243,674 |
Onex Corp. | 36,068 | 2,029,608 |
Open Text Corp. | 29,165 | 1,305,744 |
Parkland Corp. | 43,546 | 1,390,995 |
Pembina Pipeline Corp. | 108,409 | 2,771,023 |
Power Corp. of Canada | 308,905 | 7,485,944 |
Restaurant Brands International, Inc. | 21,481 | 1,295,138 |
RioCan Real Estate Investment Trust | 93,225 | 1,396,166 |
Rogers Communications, Inc., B Shares | 107,690 | 4,689,534 |
Royal Bank of Canada | 298,302 | 25,532,389 |
Saputo, Inc. | 74,669 | 2,113,852 |
Shaw Communications, Inc., B Shares | 155,262 | 2,716,472 |
SNC-Lavalin Group, Inc. | 100,631 | 2,034,876 |
Sun Life Financial, Inc. | 126,282 | 6,108,617 |
Suncor Energy, Inc. | 911,395 | 18,191,905 |
TC Energy Corp. | 162,449 | 6,839,283 |
Teck Resources Ltd., Class B | 381,181 | 7,978,907 |
TELUS Corp. | 165,689 | 3,337,338 |
TFI International, Inc. | 29,188 | 2,049,385 |
The Bank of Nova Scotia | 371,980 | 21,860,436 |
The Toronto-Dominion Bank | 386,681 | 23,561,274 |
Thomson Reuters Corp. | 46,947 | 4,105,081 |
TransAlta Corp. | 170,459 | 1,497,239 |
Waste Connections, Inc. | 19,526 | 1,916,664 |
West Fraser Timber Co., Ltd. | 57,544 | 3,954,446 |
WSP Global, Inc. | 19,631 | 1,709,106 |
390,922,574 | ||
Denmark 0.9% | ||
AP Moller - Maersk A/S, A Shares | 2,244 | 4,531,039 |
AP Moller - Maersk A/S, B Shares | 3,321 | 7,177,317 |
Carlsberg A/S, B Shares | 19,168 | 3,034,966 |
Coloplast A/S, B Shares | 8,101 | 1,241,415 |
Danske Bank A/S * | 325,341 | 6,038,159 |
DSV PANALPINA A/S | 15,985 | 2,953,686 |
ISS A/S * | 135,298 | 2,451,431 |
Novo Nordisk A/S, B Shares | 172,246 | 12,313,428 |
Novozymes A/S, B Shares | 28,041 | 1,742,993 |
Orsted A/S | 18,213 | 2,966,999 |
Pandora A/S | 35,331 | 3,457,983 |
Vestas Wind Systems A/S | 30,503 | 5,748,331 |
53,657,747 | ||
Finland 1.1% | ||
Elisa Oyj | 24,057 | 1,441,039 |
Fortum Oyj | 119,329 | 2,996,771 |
Kesko Oyj, B Shares | 94,347 | 2,409,467 |
Kone Oyj, B Shares | 50,167 | 4,023,790 |
Metso Outotec Oyj | 126,105 | 1,425,812 |
Neles Oyj | 29,877 | 371,351 |
Neste Oyj | 66,039 | 4,365,412 |
Nokia Oyj * | 1,722,111 | 6,897,984 |
Security | Number of Shares | Value ($) |
Nokian Renkaat Oyj | 55,568 | 1,977,588 |
Nordea Bank Abp | 1,283,284 | 11,694,837 |
Outokumpu Oyj * | 487,901 | 2,394,914 |
Sampo Oyj, A Shares | 121,666 | 5,444,895 |
Stora Enso Oyj, R Shares | 248,677 | 4,927,605 |
UPM-Kymmene Oyj | 214,645 | 8,232,940 |
Wartsila Oyj Abp | 206,237 | 2,378,640 |
60,983,045 | ||
France 8.5% | ||
Accor S.A. * | 43,506 | 1,825,030 |
Air France-KLM *(a) | 388,149 | 2,627,992 |
Air Liquide S.A. | 73,704 | 11,155,900 |
Airbus SE * | 90,830 | 10,574,025 |
Alstom S.A. * | 55,266 | 2,773,164 |
Arkema S.A. | 30,627 | 3,401,517 |
Atos SE * | 21,322 | 1,672,407 |
AXA S.A. | 749,483 | 18,922,226 |
BNP Paribas S.A. * | 564,632 | 33,770,635 |
Bollore S.A. | 334,671 | 1,611,083 |
Bouygues S.A. | 130,199 | 5,303,673 |
Bureau Veritas S.A. * | 53,988 | 1,467,231 |
Capgemini SE | 36,197 | 5,850,067 |
Carrefour S.A. | 561,963 | 9,853,088 |
Casino Guichard Perrachon S.A. *(a) | 90,488 | 2,919,396 |
Cie de Saint-Gobain * | 323,382 | 17,435,785 |
Cie Generale des Etablissements Michelin S.C.A. | 90,638 | 13,174,464 |
CNP Assurances * | 89,912 | 1,627,206 |
Credit Agricole S.A. * | 472,886 | 6,666,882 |
Danone S.A. | 141,058 | 9,666,866 |
Dassault Systemes SE | 6,653 | 1,388,163 |
Eiffage S.A. * | 32,747 | 3,384,966 |
Electricite de France S.A. * | 432,346 | 5,199,536 |
Elis S.A. * | 77,449 | 1,348,069 |
Engie S.A. * | 1,039,700 | 15,251,122 |
EssilorLuxottica S.A. | 28,628 | 4,691,070 |
Eurazeo SE * | 18,708 | 1,393,122 |
Eutelsat Communications S.A. | 122,542 | 1,485,630 |
Faurecia SE * | 55,764 | 2,897,652 |
Hermes International | 1,960 | 2,196,337 |
Kering S.A. | 7,167 | 4,566,265 |
Klepierre S.A. | 60,626 | 1,438,642 |
L'Oreal S.A. | 26,071 | 9,582,099 |
Lagardere S.C.A. * | 88,002 | 2,379,879 |
Legrand S.A. | 40,479 | 3,533,675 |
LVMH Moet Hennessy Louis Vuitton SE | 26,362 | 16,799,052 |
Natixis S.A. * | 624,194 | 3,057,862 |
Orange S.A. | 1,309,776 | 15,179,468 |
Pernod-Ricard S.A. | 27,987 | 5,345,277 |
Publicis Groupe S.A. | 99,204 | 5,844,886 |
Rallye S.A. *(a) | 188,682 | 1,603,155 |
Renault S.A. * | 362,585 | 16,338,922 |
Rexel S.A. * | 296,576 | 5,601,350 |
Rubis S.C.A. | 27,211 | 1,253,770 |
Safran S.A. * | 50,112 | 6,888,538 |
Sanofi | 250,353 | 23,033,987 |
Schneider Electric SE | 111,030 | 16,556,274 |
SCOR SE * | 74,153 | 2,473,390 |
SES S.A. | 239,555 | 1,923,747 |
Societe Generale S.A. * | 991,347 | 24,709,702 |
Sodexo S.A. * | 34,786 | 3,344,925 |
STMicroelectronics N.V. | 88,386 | 3,429,835 |
Suez S.A. | 181,658 | 3,803,564 |
Technip Energies N.V. * | 67,088 | 870,095 |
TechnipFMC plc (a) | 336,536 | 2,751,571 |
Teleperformance | 5,280 | 1,878,438 |
Security | Number of Shares | Value ($) |
Thales S.A. | 22,886 | 2,178,987 |
Total SE | 1,428,169 | 66,523,501 |
Valeo S.A. | 180,327 | 6,400,078 |
Veolia Environnement S.A. | 238,700 | 6,475,556 |
Vinci S.A. | 119,377 | 12,467,178 |
Vivendi SE | 188,191 | 6,526,137 |
Wendel SE | 12,891 | 1,481,780 |
487,775,889 | ||
Germany 8.0% | ||
adidas AG * | 26,889 | 9,429,080 |
Allianz SE | 123,917 | 30,052,007 |
Aurubis AG | 43,010 | 3,774,460 |
BASF SE | 524,542 | 43,122,949 |
Bayer AG | 338,157 | 20,572,002 |
Bayerische Motoren Werke AG | 280,954 | 24,383,069 |
Beiersdorf AG | 13,336 | 1,325,735 |
Brenntag SE | 60,393 | 4,710,581 |
Commerzbank AG * | 792,947 | 5,226,261 |
Continental AG | 85,581 | 12,351,119 |
Covestro AG | 130,545 | 9,500,993 |
Daimler AG | 739,747 | 59,486,197 |
Deutsche Bank AG * | 814,541 | 10,098,478 |
Deutsche Boerse AG | 14,852 | 2,443,608 |
Deutsche Lufthansa AG * | 411,353 | 6,133,903 |
Deutsche Post AG | 364,346 | 18,158,504 |
Deutsche Telekom AG | 1,555,770 | 28,382,555 |
Deutsche Wohnen SE | 27,833 | 1,315,875 |
E.ON SE | 757,137 | 7,765,658 |
Evonik Industries AG | 92,236 | 3,122,454 |
Freenet AG | 68,495 | 1,458,678 |
Fresenius Medical Care AG & Co. KGaA | 59,961 | 4,174,699 |
Fresenius SE & Co. KGaA | 167,376 | 7,200,025 |
GEA Group AG | 59,199 | 2,056,511 |
Hannover Rueck SE | 12,996 | 2,213,169 |
HeidelbergCement AG | 86,031 | 6,837,711 |
Hella GmbH & Co. KGaA * | 24,102 | 1,434,080 |
Henkel AG & Co. KGaA | 26,519 | 2,362,655 |
HUGO BOSS AG | 51,494 | 1,958,857 |
Infineon Technologies AG | 167,433 | 7,316,286 |
K+S AG | 253,449 | 2,841,945 |
KION Group AG | 20,916 | 1,775,625 |
LANXESS AG | 35,445 | 2,638,179 |
Leoni AG *(a) | 131,828 | 1,801,744 |
Merck KGaA | 18,932 | 3,091,913 |
METRO AG | 201,275 | 2,230,528 |
MTU Aero Engines AG | 8,011 | 1,915,579 |
Muenchener Rueckversicherungs-Gesellschaft AG | 38,376 | 11,319,131 |
OSRAM Licht AG * | 25,376 | 1,579,495 |
ProSiebenSat.1 Media SE * | 141,189 | 2,909,951 |
Rheinmetall AG | 17,124 | 1,717,266 |
RWE AG | 183,777 | 6,990,967 |
Salzgitter AG * | 89,716 | 2,694,119 |
SAP SE | 102,685 | 12,720,661 |
Siemens AG | 219,797 | 34,143,731 |
Siemens Energy AG * | 109,222 | 4,142,927 |
Symrise AG | 11,125 | 1,306,061 |
Telefonica Deutschland Holding AG | 431,462 | 1,157,396 |
ThyssenKrupp AG * | 440,977 | 5,970,801 |
Uniper SE | 165,431 | 5,823,204 |
United Internet AG | 37,172 | 1,645,955 |
Volkswagen AG | 23,466 | 5,517,163 |
Vonovia SE | 50,248 | 3,216,666 |
457,519,166 | ||
Security | Number of Shares | Value ($) |
Hong Kong 1.7% | ||
AAC Technologies Holdings, Inc. | 177,903 | 958,619 |
AIA Group Ltd. | 1,079,972 | 13,511,223 |
BOC Hong Kong Holdings Ltd. | 974,774 | 3,241,979 |
CK Asset Holdings Ltd. | 773,259 | 4,540,461 |
CK Hutchison Holdings Ltd. | 1,290,118 | 9,745,714 |
CLP Holdings Ltd. | 477,275 | 4,654,406 |
Galaxy Entertainment Group Ltd. | 294,546 | 2,692,068 |
Hang Seng Bank Ltd. | 150,328 | 2,906,817 |
Henderson Land Development Co., Ltd. | 258,919 | 1,124,813 |
Hong Kong & China Gas Co., Ltd. | 1,183,411 | 1,784,876 |
Hong Kong Exchanges & Clearing Ltd. | 41,808 | 2,550,297 |
Hongkong Land Holdings Ltd. | 328,276 | 1,582,290 |
Jardine Matheson Holdings Ltd. | 73,333 | 3,836,782 |
Jardine Strategic Holdings Ltd. | 77,303 | 2,000,602 |
Lenovo Group Ltd. | 4,345,714 | 5,495,621 |
Link REIT | 201,216 | 1,898,717 |
MTR Corp., Ltd. | 322,934 | 1,937,850 |
New World Development Co., Ltd. | 627,953 | 3,193,455 |
Noble Group Ltd. *(a)(b) | 54,070,092 | 609,951 |
PCCW Ltd. | 2,161,518 | 1,239,954 |
Sands China Ltd. * | 549,982 | 2,573,604 |
Sino Land Co., Ltd. | 925,938 | 1,401,318 |
Sun Hung Kai Properties Ltd. | 418,075 | 6,715,198 |
Swire Pacific Ltd., A Shares | 416,088 | 3,049,315 |
Swire Pacific Ltd., B Shares | 690,923 | 801,602 |
Techtronic Industries Co., Ltd. | 130,922 | 1,998,255 |
The Wharf Holdings Ltd. | 1,143,580 | 2,697,766 |
Want Want China Holdings Ltd. | 1,463,321 | 1,056,365 |
WH Group Ltd. | 4,452,214 | 3,994,587 |
Wharf Real Estate Investment Co., Ltd. | 593,533 | 3,546,347 |
Yue Yuen Industrial Holdings Ltd. | 797,284 | 1,699,946 |
99,040,798 | ||
Ireland 0.1% | ||
Bank of Ireland Group plc * | 581,921 | 2,387,415 |
Kerry Group plc, A Shares | 17,029 | 2,065,946 |
4,453,361 | ||
Israel 0.2% | ||
Bank Hapoalim B.M. * | 250,908 | 1,779,919 |
Bank Leumi Le-Israel | 335,201 | 2,049,030 |
Bezeq The Israeli Telecommunication Corp., Ltd. * | 1,536,570 | 1,489,397 |
ICL Group Ltd. | 365,239 | 2,119,085 |
Teva Pharmaceutical Industries Ltd. * | 337,145 | 3,737,122 |
11,174,553 | ||
Italy 3.3% | ||
A2A S.p.A. | 721,564 | 1,221,351 |
Assicurazioni Generali S.p.A. | 506,939 | 9,568,265 |
Atlantia S.p.A. * | 182,403 | 3,437,247 |
Banco BPM S.p.A. * | 983,510 | 2,535,598 |
CNH Industrial N.V. * | 526,395 | 7,820,604 |
Enel S.p.A. | 2,689,534 | 25,607,179 |
Eni S.p.A. | 2,571,950 | 29,601,218 |
EXOR N.V. | 148,355 | 11,974,874 |
Ferrari N.V. | 5,931 | 1,162,646 |
Hera S.p.A. | 272,677 | 977,701 |
Intesa Sanpaolo S.p.A. * | 8,100,027 | 20,981,087 |
Leonardo S.p.A. | 245,045 | 1,971,998 |
Mediobanca Banca di Credito Finanziario S.p.A. * | 233,085 | 2,438,192 |
Pirelli & C S.p.A. * | 239,629 | 1,388,864 |
Security | Number of Shares | Value ($) |
Poste Italiane S.p.A. | 122,610 | 1,399,541 |
Prysmian S.p.A. | 62,016 | 2,009,090 |
Saipem S.p.A. | 453,802 | 1,276,812 |
Saras S.p.A. * | 1,516,559 | 1,188,236 |
Snam S.p.A. | 487,873 | 2,544,006 |
Stellantis N.V. | 1,300,365 | 21,203,997 |
Stellantis N.V. * | 837,766 | 13,650,601 |
Telecom Italia S.p.A. | 14,412,924 | 6,873,552 |
Tenaris S.A. | 255,436 | 2,680,677 |
Terna Rete Elettrica Nazionale S.p.A. | 249,208 | 1,744,755 |
UniCredit S.p.A. * | 1,229,178 | 12,741,476 |
Unipol Gruppo S.p.A. * | 306,509 | 1,601,263 |
189,600,830 | ||
Japan 23.5% | ||
Aeon Co., Ltd. | 257,097 | 7,729,319 |
AGC, Inc. | 136,761 | 5,006,269 |
Air Water, Inc. | 80,844 | 1,329,441 |
Aisin Seiki Co., Ltd. | 166,074 | 5,650,631 |
Ajinomoto Co., Inc. | 150,332 | 2,989,990 |
Alfresa Holdings Corp. | 136,748 | 2,636,384 |
Alps Alpine Co., Ltd. | 157,233 | 2,069,088 |
Amada Co., Ltd. | 154,940 | 1,877,488 |
ANA Holdings, Inc. * | 77,327 | 1,853,700 |
Asahi Group Holdings Ltd. | 109,306 | 4,731,737 |
Asahi Kasei Corp. | 748,580 | 8,052,118 |
Asics Corp. | 83,207 | 1,362,833 |
Astellas Pharma, Inc. | 460,151 | 7,230,080 |
Bandai Namco Holdings, Inc. | 39,358 | 3,009,664 |
Bic Camera, Inc. | 103,251 | 1,118,375 |
Bridgestone Corp. | 387,567 | 15,136,721 |
Brother Industries Ltd. | 124,892 | 2,453,529 |
Canon, Inc. | 627,623 | 13,505,028 |
Casio Computer Co., Ltd. | 59,366 | 1,143,411 |
Central Japan Railway Co. | 59,491 | 9,721,591 |
Chubu Electric Power Co., Inc. | 523,967 | 6,430,325 |
Chugai Pharmaceutical Co., Ltd. | 28,070 | 1,254,903 |
Coca-Cola Bottlers Japan Holdings, Inc. | 83,553 | 1,435,160 |
COMSYS Holdings Corp. | 38,832 | 1,171,812 |
Concordia Financial Group Ltd. | 395,822 | 1,526,965 |
Cosmo Energy Holdings Co., Ltd. | 111,736 | 2,676,462 |
Dai Nippon Printing Co., Ltd. | 175,570 | 3,154,130 |
Dai-ichi Life Holdings, Inc. | 445,885 | 7,822,030 |
Daicel Corp. | 209,655 | 1,534,925 |
Daido Steel Co., Ltd. | 30,443 | 1,252,981 |
Daiichi Sankyo Co., Ltd. | 143,971 | 4,067,512 |
Daikin Industries Ltd. | 41,714 | 8,112,578 |
Daito Trust Construction Co., Ltd. | 33,001 | 3,658,174 |
Daiwa House Industry Co., Ltd. | 312,210 | 8,800,137 |
Daiwa Securities Group, Inc. | 535,070 | 2,599,514 |
Denka Co., Ltd. | 48,113 | 1,806,383 |
Denso Corp. | 253,229 | 15,183,282 |
Dentsu Group, Inc. | 86,404 | 2,976,372 |
DIC Corp. | 68,618 | 1,680,349 |
East Japan Railway Co. | 167,572 | 12,357,924 |
Ebara Corp. | 52,343 | 1,960,283 |
EDION Corp. | 116,269 | 1,163,345 |
Eisai Co., Ltd. | 32,885 | 2,259,108 |
Electric Power Development Co., Ltd. | 146,653 | 2,389,615 |
ENEOS Holdings, Inc. | 3,480,322 | 15,278,267 |
FANUC Corp. | 31,571 | 7,805,333 |
Fast Retailing Co., Ltd. | 4,823 | 4,753,285 |
Fuji Electric Co., Ltd. | 59,319 | 2,460,953 |
FUJIFILM Holdings Corp. | 136,374 | 7,769,760 |
Fujikura Ltd. * | 427,570 | 2,058,789 |
Fujitsu Ltd. | 72,177 | 10,405,845 |
Furukawa Electric Co., Ltd. | 57,920 | 1,511,878 |
Security | Number of Shares | Value ($) |
H2O Retailing Corp. | 167,591 | 1,371,685 |
Hakuhodo DY Holdings, Inc. | 116,202 | 1,913,068 |
Hankyu Hanshin Holdings, Inc. | 68,413 | 2,269,945 |
Hanwa Co., Ltd. | 72,508 | 1,886,542 |
Haseko Corp. | 176,825 | 2,187,492 |
Hino Motors Ltd. | 262,721 | 2,465,938 |
Hitachi Construction Machinery Co., Ltd. | 43,491 | 1,336,897 |
Hitachi Ltd. | 592,885 | 27,134,478 |
Hitachi Metals Ltd. | 108,456 | 1,719,375 |
Hokkaido Electric Power Co., Inc. | 284,967 | 1,195,610 |
Hokuriku Electric Power Co. | 157,904 | 978,193 |
Honda Motor Co., Ltd. | 1,415,641 | 38,686,303 |
Hoya Corp. | 33,538 | 3,808,990 |
Idemitsu Kosan Co., Ltd. | 194,971 | 5,094,793 |
IHI Corp. | 120,797 | 2,220,016 |
Iida Group Holdings Co., Ltd. | 107,109 | 2,424,882 |
Inpex Corp. | 687,628 | 5,060,075 |
Isetan Mitsukoshi Holdings Ltd. | 396,395 | 2,890,923 |
Isuzu Motors Ltd. | 396,083 | 4,141,510 |
ITOCHU Corp. | 431,857 | 12,841,402 |
J Front Retailing Co., Ltd. | 197,225 | 1,882,653 |
Japan Airlines Co., Ltd. * | 98,369 | 2,335,964 |
Japan Post Bank Co., Ltd. | 131,477 | 1,251,339 |
Japan Post Holdings Co., Ltd. | 699,866 | 5,981,772 |
Japan Post Insurance Co., Ltd. | 84,800 | 1,734,365 |
Japan Tobacco, Inc. | 447,095 | 8,078,260 |
JFE Holdings, Inc. * | 925,628 | 9,713,273 |
JGC Holdings Corp. | 151,396 | 1,942,541 |
JSR Corp. | 60,606 | 1,806,120 |
JTEKT Corp. | 283,152 | 2,968,658 |
K's Holdings Corp. | 112,435 | 1,508,068 |
Kajima Corp. | 279,058 | 3,556,981 |
Kaneka Corp. | 53,352 | 2,068,179 |
Kao Corp. | 76,346 | 5,119,353 |
Kawasaki Heavy Industries Ltd. * | 154,151 | 3,455,159 |
KDDI Corp. | 664,359 | 20,515,685 |
Keio Corp. | 22,240 | 1,659,546 |
Kewpie Corp. | 62,194 | 1,344,404 |
Keyence Corp. | 7,014 | 3,328,589 |
Kikkoman Corp. | 29,049 | 1,916,787 |
Kintetsu Group Holdings Co., Ltd. | 43,568 | 1,819,763 |
Kirin Holdings Co., Ltd. | 281,586 | 5,519,921 |
Kobe Steel Ltd. * | 761,359 | 4,687,925 |
Koito Manufacturing Co., Ltd. | 45,970 | 3,063,516 |
Komatsu Ltd. | 386,763 | 11,580,383 |
Konica Minolta, Inc. | 734,446 | 3,715,660 |
Kubota Corp. | 326,323 | 7,373,969 |
Kuraray Co., Ltd. | 230,698 | 2,581,115 |
Kyocera Corp. | 93,995 | 6,050,476 |
Kyushu Electric Power Co., Inc. | 426,262 | 3,660,876 |
Kyushu Railway Co. | 57,985 | 1,508,677 |
Lixil Corp. | 147,492 | 4,135,147 |
Makita Corp. | 51,228 | 2,180,580 |
Marubeni Corp. | 1,395,512 | 10,370,066 |
Matsumotokiyoshi Holdings Co., Ltd. | 32,555 | 1,277,266 |
Mazda Motor Corp. | 1,066,294 | 8,397,040 |
Medipal Holdings Corp. | 122,063 | 2,417,429 |
MEIJI Holdings Co., Ltd. | 46,520 | 2,951,710 |
MINEBEA MITSUMI, Inc. | 125,752 | 3,086,554 |
MISUMI Group, Inc. | 43,183 | 1,317,296 |
Mitsubishi Chemical Holdings Corp. | 1,150,560 | 7,989,340 |
Mitsubishi Corp. | 606,128 | 17,084,685 |
Mitsubishi Electric Corp. | 960,335 | 14,138,215 |
Mitsubishi Estate Co., Ltd. | 216,483 | 3,734,708 |
Mitsubishi Gas Chemical Co., Inc. | 101,179 | 2,354,259 |
Mitsubishi Heavy Industries Ltd. | 261,900 | 7,541,855 |
Mitsubishi Materials Corp. | 138,735 | 3,259,374 |
Mitsubishi Motors Corp. * | 896,310 | 2,540,695 |
Security | Number of Shares | Value ($) |
Mitsubishi UFJ Financial Group, Inc. | 5,038,442 | 26,388,686 |
Mitsui & Co., Ltd. | 718,630 | 15,267,684 |
Mitsui Chemicals, Inc. | 125,832 | 3,873,934 |
Mitsui Fudosan Co., Ltd. | 255,439 | 5,754,211 |
Mitsui Mining & Smelting Co., Ltd. | 44,404 | 1,546,263 |
Mitsui OSK Lines Ltd. | 111,216 | 3,512,689 |
Mizuho Financial Group, Inc. | 949,238 | 13,890,201 |
MS&AD Insurance Group Holdings, Inc. | 192,027 | 5,407,180 |
Murata Manufacturing Co., Ltd. | 102,766 | 8,759,321 |
Nagase & Co., Ltd. | 131,831 | 2,059,009 |
Nagoya Railroad Co., Ltd. | 52,869 | 1,341,823 |
NEC Corp. | 95,808 | 5,215,754 |
NGK Insulators Ltd. | 107,590 | 1,898,528 |
NGK Spark Plug Co., Ltd. | 99,451 | 1,682,098 |
NH Foods Ltd. | 72,953 | 3,071,093 |
NHK Spring Co., Ltd. | 184,497 | 1,378,446 |
Nichirei Corp. | 37,378 | 972,866 |
Nidec Corp. | 48,430 | 6,145,801 |
Nikon Corp. | 251,769 | 2,233,168 |
Nintendo Co., Ltd. | 7,639 | 4,642,625 |
Nippon Electric Glass Co., Ltd. | 62,086 | 1,405,006 |
Nippon Express Co., Ltd. | 52,081 | 3,871,612 |
Nippon Light Metal Holdings Co., Ltd. | 59,360 | 1,170,039 |
Nippon Paper Industries Co., Ltd. | 117,667 | 1,537,380 |
Nippon Shokubai Co., Ltd. | 18,904 | 1,004,286 |
Nippon Steel Corp. * | 1,182,441 | 17,396,999 |
Nippon Steel Trading Corp. | 31,741 | 1,111,263 |
Nippon Telegraph & Telephone Corp. | 639,698 | 16,559,856 |
Nippon Yusen K.K. | 186,652 | 5,352,186 |
Nissan Motor Co., Ltd. * | 3,184,349 | 17,177,073 |
Nisshin Seifun Group, Inc. | 97,497 | 1,567,602 |
Nitori Holdings Co., Ltd. | 9,071 | 1,692,192 |
Nitto Denko Corp. | 66,093 | 5,639,059 |
NOK Corp. | 131,816 | 1,800,190 |
Nomura Holdings, Inc. | 831,151 | 4,827,447 |
Nomura Real Estate Holdings, Inc. | 52,395 | 1,179,797 |
NSK Ltd. | 342,695 | 3,354,898 |
NTN Corp. * | 592,990 | 1,725,426 |
NTT Data Corp. | 187,182 | 2,854,991 |
Obayashi Corp. | 364,164 | 3,120,722 |
Odakyu Electric Railway Co., Ltd. | 53,468 | 1,563,289 |
Oji Holdings Corp. | 619,945 | 3,904,478 |
Olympus Corp. | 107,312 | 2,246,159 |
Omron Corp. | 44,789 | 3,606,998 |
Ono Pharmaceutical Co., Ltd. | 45,106 | 1,212,536 |
Oriental Land Co., Ltd. | 11,649 | 1,950,612 |
ORIX Corp. | 425,835 | 7,200,505 |
Osaka Gas Co., Ltd. | 222,979 | 3,989,093 |
Otsuka Corp. | 23,183 | 1,077,115 |
Otsuka Holdings Co., Ltd. | 110,442 | 4,378,703 |
Pan Pacific International Holdings Corp. | 62,040 | 1,452,880 |
Panasonic Corp. | 1,354,431 | 17,359,447 |
Rakuten, Inc. | 119,206 | 1,332,592 |
Recruit Holdings Co., Ltd. | 131,804 | 6,533,292 |
Renesas Electronics Corp. * | 187,432 | 2,056,580 |
Resona Holdings, Inc. | 829,405 | 3,329,609 |
Ricoh Co., Ltd. | 537,123 | 4,648,277 |
Rohm Co., Ltd. | 23,713 | 2,330,346 |
Ryohin Keikaku Co., Ltd. | 72,636 | 1,634,890 |
Santen Pharmaceutical Co., Ltd. | 61,058 | 837,871 |
SBI Holdings, Inc. | 49,193 | 1,365,805 |
Secom Co., Ltd. | 37,714 | 3,265,904 |
Seiko Epson Corp. | 192,470 | 3,150,626 |
Seino Holdings Co., Ltd. | 97,531 | 1,364,006 |
Sekisui Chemical Co., Ltd. | 181,314 | 3,224,986 |
Sekisui House Ltd. | 266,471 | 4,994,768 |
Seven & i Holdings Co., Ltd. | 383,717 | 14,539,755 |
SG Holdings Co., Ltd. | 99,050 | 2,275,900 |
Security | Number of Shares | Value ($) |
Shikoku Electric Power Co., Inc. | 133,198 | 928,910 |
Shimadzu Corp. | 43,882 | 1,577,511 |
Shimamura Co., Ltd. | 17,627 | 1,755,420 |
Shimano, Inc. | 9,458 | 2,113,713 |
Shimizu Corp. | 311,314 | 2,352,241 |
Shin-Etsu Chemical Co., Ltd. | 66,523 | 10,833,246 |
Shionogi & Co., Ltd. | 39,263 | 1,994,843 |
Shiseido Co., Ltd. | 40,780 | 3,028,836 |
Showa Denko K.K. | 106,003 | 2,580,925 |
SMC Corp. | 6,056 | 3,575,393 |
Softbank Corp. | 452,107 | 6,114,944 |
SoftBank Group Corp. | 491,523 | 45,650,648 |
Sojitz Corp. | 1,057,278 | 2,778,654 |
Sompo Holdings, Inc. | 124,130 | 4,753,617 |
Sony Corp. | 176,456 | 18,417,409 |
Stanley Electric Co., Ltd. | 59,407 | 1,759,237 |
Subaru Corp. | 445,859 | 8,321,669 |
Sumitomo Chemical Co., Ltd. | 1,387,742 | 6,708,158 |
Sumitomo Corp. | 625,525 | 9,044,690 |
Sumitomo Electric Industries Ltd. | 698,716 | 10,142,334 |
Sumitomo Forestry Co., Ltd. | 98,443 | 1,764,841 |
Sumitomo Heavy Industries Ltd. | 87,034 | 2,389,473 |
Sumitomo Metal Mining Co., Ltd. | 92,154 | 4,447,680 |
Sumitomo Mitsui Financial Group, Inc. | 551,248 | 19,361,461 |
Sumitomo Mitsui Trust Holdings, Inc. | 125,246 | 4,116,872 |
Sumitomo Realty & Development Co., Ltd. | 83,336 | 2,870,688 |
Sumitomo Rubber Industries Ltd. | 185,608 | 2,064,440 |
Suntory Beverage & Food Ltd. | 41,508 | 1,420,093 |
Suzuken Co., Ltd. | 63,786 | 2,430,741 |
Suzuki Motor Corp. | 201,745 | 8,708,703 |
Sysmex Corp. | 17,478 | 1,818,506 |
T&D Holdings, Inc. | 220,034 | 2,965,730 |
Taiheiyo Cement Corp. | 92,160 | 2,294,052 |
Taisei Corp. | 98,095 | 3,457,356 |
Takashimaya Co., Ltd. | 179,529 | 1,823,262 |
Takeda Pharmaceutical Co., Ltd. | 227,731 | 7,656,584 |
TDK Corp. | 36,562 | 5,230,006 |
Teijin Ltd. | 133,847 | 2,299,043 |
Terumo Corp. | 62,660 | 2,323,725 |
The Chugoku Electric Power Co., Inc. | 153,016 | 1,825,449 |
The Kansai Electric Power Co., Inc. | 583,747 | 5,821,581 |
The Yokohama Rubber Co., Ltd. | 76,790 | 1,326,202 |
TIS, Inc. | 61,210 | 1,272,001 |
Tobu Railway Co., Ltd. | 52,527 | 1,493,869 |
Toho Gas Co., Ltd. | 29,902 | 1,756,960 |
Toho Holdings Co., Ltd. | 60,469 | 1,044,898 |
Tohoku Electric Power Co., Inc. | 485,430 | 4,269,269 |
Tokio Marine Holdings, Inc. | 183,151 | 9,030,338 |
Tokyo Electric Power Co. Holdings, Inc. * | 3,475,098 | 11,155,280 |
Tokyo Electron Ltd. | 19,580 | 8,003,651 |
Tokyo Gas Co., Ltd. | 264,447 | 5,465,668 |
Tokyu Corp. | 164,891 | 2,265,820 |
Tokyu Fudosan Holdings Corp. | 288,327 | 1,802,382 |
Toppan Printing Co., Ltd. | 204,287 | 3,206,006 |
Toray Industries, Inc. | 1,073,071 | 7,016,156 |
Toshiba Corp. | 188,654 | 5,940,813 |
Tosoh Corp. | 187,282 | 3,427,820 |
TOTO Ltd. | 39,108 | 2,352,940 |
Toyo Seikan Group Holdings Ltd. | 159,386 | 1,992,699 |
Toyo Suisan Kaisha Ltd. | 23,715 | 1,010,570 |
Toyoda Gosei Co., Ltd. | 53,866 | 1,395,945 |
Toyota Industries Corp. | 59,288 | 5,064,021 |
Toyota Motor Corp. | 1,028,773 | 76,023,370 |
Toyota Tsusho Corp. | 204,227 | 8,549,394 |
TS Tech Co., Ltd. | 41,688 | 1,157,044 |
Tsuruha Holdings, Inc. | 9,749 | 1,254,541 |
Ube Industries Ltd. | 100,542 | 2,017,635 |
Unicharm Corp. | 40,690 | 1,610,184 |
Security | Number of Shares | Value ($) |
West Japan Railway Co. | 87,068 | 5,323,456 |
Yakult Honsha Co., Ltd. | 19,723 | 975,598 |
Yamada Holdings Co., Ltd. | 572,119 | 2,733,326 |
Yamaha Corp. | 30,925 | 1,721,281 |
Yamaha Motor Co., Ltd. | 221,461 | 4,820,425 |
Yamato Holdings Co., Ltd. | 154,582 | 4,065,504 |
Yamazaki Baking Co., Ltd. | 73,011 | 1,228,728 |
Yaskawa Electric Corp. | 39,790 | 1,986,886 |
Yokogawa Electric Corp. | 82,096 | 1,553,459 |
Z Holdings Corp. | 444,684 | 2,706,754 |
1,343,820,092 | ||
Netherlands 2.5% | ||
Aalberts N.V. | 30,373 | 1,424,531 |
ABN AMRO Bank N.V. * | 325,627 | 3,762,742 |
Aegon N.V. | 1,396,054 | 6,703,562 |
Akzo Nobel N.V. | 60,310 | 6,263,358 |
APERAM S.A. | 37,385 | 1,574,614 |
ArcelorMittal S.A. * | 904,715 | 21,257,852 |
ASML Holding N.V. | 18,916 | 10,684,547 |
ASR Nederland N.V. | 60,813 | 2,553,993 |
Boskalis Westminster * | 56,260 | 1,739,988 |
Heineken Holding N.V. | 35,271 | 3,048,210 |
Heineken N.V. | 46,058 | 4,567,455 |
ING Groep N.V. | 1,879,858 | 20,624,933 |
Koninklijke Ahold Delhaize N.V. | 603,284 | 15,992,691 |
Koninklijke DSM N.V. | 30,701 | 5,088,518 |
Koninklijke KPN N.V. | 1,330,465 | 4,373,199 |
Koninklijke Philips N.V. * | 175,070 | 9,552,935 |
NN Group N.V. | 121,521 | 5,634,583 |
Randstad N.V. * | 68,622 | 4,609,456 |
Signify N.V. * | 98,248 | 4,299,086 |
Unibail-Rodamco-Westfield | 67,479 | 4,981,523 |
Wolters Kluwer N.V. | 34,824 | 2,776,252 |
141,514,028 | ||
New Zealand 0.1% | ||
Contact Energy Ltd. | 260,017 | 1,293,159 |
Fletcher Building Ltd. | 755,524 | 3,548,745 |
Spark New Zealand Ltd. | 569,784 | 1,901,590 |
6,743,494 | ||
Norway 0.8% | ||
DNB A.S.A. | 294,007 | 5,757,580 |
Equinor A.S.A. | 703,228 | 13,330,466 |
Mowi A.S.A. | 114,909 | 2,794,002 |
Norsk Hydro A.S.A. | 1,126,052 | 6,276,184 |
Orkla A.S.A. | 207,609 | 1,925,181 |
Seadrill Ltd. * | 4,382,443 | 1,308,830 |
Subsea 7 S.A. * | 237,524 | 2,492,733 |
Telenor A.S.A. | 295,628 | 4,810,992 |
Yara International A.S.A. | 111,510 | 5,394,225 |
44,090,193 | ||
Poland 0.3% | ||
Bank Polska Kasa Opieki S.A. * | 89,662 | 1,632,056 |
Grupa Lotos S.A. | 90,022 | 1,016,759 |
KGHM Polska Miedz S.A. * | 60,885 | 3,095,086 |
PGE Polska Grupa Energetyczna S.A. * | 1,024,910 | 1,828,703 |
Polski Koncern Naftowy Orlen S.A. | 388,184 | 6,132,073 |
Polskie Gornictwo Naftowe i Gazownictwo S.A. | 1,390,297 | 2,090,223 |
Security | Number of Shares | Value ($) |
Powszechna Kasa Oszczednosci Bank Polski S.A. * | 238,593 | 1,930,625 |
Powszechny Zaklad Ubezpieczen S.A. * | 244,357 | 1,920,192 |
19,645,717 | ||
Portugal 0.2% | ||
EDP - Energias de Portugal S.A. | 1,057,409 | 6,091,410 |
Galp Energia, SGPS, S.A. | 279,006 | 3,144,096 |
Jeronimo Martins, SGPS, S.A. | 72,714 | 1,134,144 |
10,369,650 | ||
Republic of Korea 7.3% | ||
Amorepacific Corp. | 8,793 | 1,835,299 |
BNK Financial Group, Inc. | 248,774 | 1,306,423 |
CJ CheilJedang Corp. | 5,104 | 1,846,708 |
CJ Corp. | 20,809 | 1,716,951 |
Coway Co., Ltd. | 18,859 | 1,086,050 |
DB Insurance Co., Ltd. | 39,931 | 1,471,423 |
DL E&C Co., Ltd. * | 11,388 | 1,125,116 |
DL Holdings Co., Ltd. | 9,083 | 699,314 |
Doosan Heavy Industries & Construction Co., Ltd. * | 221,266 | 2,087,601 |
E-MART, Inc. | 27,785 | 4,179,497 |
GS Holdings Corp. | 65,759 | 2,282,689 |
Hana Financial Group, Inc. | 154,983 | 5,110,921 |
Hankook Tire & Technology Co., Ltd. | 75,885 | 3,218,443 |
Hanwha Corp. * | 89,448 | 2,336,714 |
Hanwha Solutions Corp. * | 55,745 | 2,235,258 |
Hyundai Engineering & Construction Co., Ltd. | 77,192 | 2,734,527 |
Hyundai Glovis Co., Ltd. | 16,529 | 2,839,428 |
Hyundai Heavy Industries Holdings Co., Ltd. | 15,034 | 3,619,668 |
Hyundai Marine & Fire Insurance Co., Ltd. | 67,123 | 1,308,406 |
Hyundai Mobis Co., Ltd. | 48,289 | 13,023,202 |
Hyundai Motor Co. | 116,498 | 24,575,012 |
Hyundai Steel Co. | 159,227 | 5,661,877 |
Industrial Bank of Korea | 269,237 | 1,996,212 |
KB Financial Group, Inc. | 167,792 | 6,541,424 |
Kia Motors Corp. | 256,392 | 18,119,737 |
Korea Electric Power Corp. | 517,460 | 10,455,133 |
Korea Gas Corp. * | 54,571 | 1,547,028 |
Korea Shipbuilding & Offshore Engineering Co., Ltd. * | 26,872 | 2,678,829 |
Korea Zinc Co., Ltd. | 4,545 | 1,632,316 |
Korean Air Lines Co., Ltd. * | 40,945 | 1,025,903 |
KT&G Corp. | 38,562 | 2,687,498 |
LG Chem Ltd. | 13,025 | 9,633,979 |
LG Corp. | 30,533 | 2,551,890 |
LG Display Co., Ltd. | 490,983 | 9,876,472 |
LG Electronics, Inc. | 116,460 | 15,185,928 |
LG Household & Health Care Ltd. | 1,225 | 1,649,688 |
LG Uplus Corp. | 189,177 | 1,986,906 |
Lotte Chemical Corp. | 14,766 | 4,179,429 |
Lotte Shopping Co., Ltd. | 26,131 | 2,756,140 |
NAVER Corp. | 7,751 | 2,587,116 |
POSCO | 90,290 | 22,622,728 |
Posco International Corp. | 95,090 | 1,891,643 |
S-Oil Corp. * | 31,859 | 2,410,338 |
Samsung C&T Corp. | 21,169 | 2,289,304 |
Samsung Electro-Mechanics Co., Ltd. | 15,572 | 2,626,519 |
Samsung Electronics Co., Ltd. | 1,756,231 | 128,962,223 |
Samsung Fire & Marine Insurance Co., Ltd. | 18,514 | 2,850,843 |
Samsung Heavy Industries Co., Ltd. * | 223,976 | 1,307,773 |
Security | Number of Shares | Value ($) |
Samsung Life Insurance Co., Ltd. | 38,173 | 2,548,264 |
Samsung SDI Co., Ltd. | 5,324 | 3,193,926 |
Samsung SDS Co., Ltd. | 9,577 | 1,657,967 |
Shinhan Financial Group Co., Ltd. | 233,913 | 6,860,199 |
SK Holdings Co., Ltd. | 25,681 | 6,000,234 |
SK Hynix, Inc. | 191,349 | 24,099,585 |
SK Innovation Co., Ltd. * | 74,840 | 17,352,755 |
SK Networks Co., Ltd. | 321,849 | 1,592,773 |
SK Telecom Co., Ltd. | 14,081 | 3,101,956 |
Woori Financial Group, Inc. | 346,364 | 2,953,420 |
417,714,605 | ||
Singapore 0.7% | ||
CapitaLand Ltd. | 593,022 | 1,418,222 |
ComfortDelGro Corp., Ltd. | 1,255,382 | 1,520,016 |
DBS Group Holdings Ltd. | 391,565 | 7,844,846 |
Jardine Cycle & Carriage Ltd. | 73,203 | 1,158,300 |
Keppel Corp., Ltd. | 610,471 | 2,332,250 |
Oversea-Chinese Banking Corp., Ltd. | 774,555 | 6,401,714 |
Singapore Airlines Ltd. * | 637,000 | 2,385,696 |
Singapore Telecommunications Ltd. | 2,747,159 | 4,855,098 |
United Overseas Bank Ltd. | 302,788 | 5,619,920 |
Wilmar International Ltd. | 959,165 | 3,808,672 |
37,344,734 | ||
Spain 3.4% | ||
Acciona S.A. | 9,550 | 1,546,345 |
Acerinox S.A. | 122,483 | 1,433,475 |
ACS, Actividades de Construccion y Servicios S.A. | 144,630 | 4,448,485 |
Aena SME S.A. * | 13,995 | 2,393,487 |
Amadeus IT Group S.A. * | 56,555 | 3,947,171 |
Banco Bilbao Vizcaya Argentaria S.A. | 4,615,004 | 25,784,586 |
Banco de Sabadell S.A. | 9,180,124 | 4,642,105 |
Banco Santander S.A. * | 15,913,746 | 55,968,411 |
Bankia S.A. | 907,021 | 1,799,490 |
Bankinter S.A. | 230,441 | 1,536,163 |
CaixaBank S.A. | 660,233 | 1,928,947 |
Enagas S.A. | 63,778 | 1,344,289 |
Endesa S.A. | 149,568 | 3,730,763 |
Ferrovial S.A. | 78,648 | 1,970,355 |
Grifols S.A. | 44,041 | 1,112,974 |
Iberdrola S.A. | 1,483,993 | 18,778,246 |
Industria de Diseno Textil S.A. | 203,887 | 6,758,625 |
Mapfre S.A. | 718,308 | 1,370,599 |
Naturgy Energy Group S.A. | 173,454 | 4,360,251 |
Red Electrica Corp. S.A. | 104,285 | 1,755,047 |
Repsol S.A. | 1,779,943 | 22,501,552 |
Telefonica S.A. | 5,364,605 | 22,959,751 |
192,071,117 | ||
Sweden 2.0% | ||
Alfa Laval AB * | 64,210 | 1,997,366 |
Assa Abloy AB, B Shares | 138,527 | 3,491,169 |
Atlas Copco AB, A Shares | 84,738 | 4,863,298 |
Atlas Copco AB, B Shares | 55,796 | 2,719,358 |
Boliden AB | 115,236 | 4,588,807 |
Electrolux AB, Series B | 97,170 | 2,307,182 |
Electrolux Professional AB, Class B * | 100,559 | 538,463 |
Epiroc AB, A Shares | 70,610 | 1,506,329 |
Epiroc AB, B Shares | 41,445 | 820,009 |
Essity AB, B Shares | 116,734 | 3,526,992 |
H & M Hennes & Mauritz AB, B Shares * | 385,012 | 9,121,009 |
Hexagon AB, B Shares | 25,769 | 2,158,435 |
Husqvarna AB, B Shares | 130,644 | 1,606,591 |
Security | Number of Shares | Value ($) |
ICA Gruppen AB | 29,749 | 1,419,790 |
Investor AB, A Shares | 26,782 | 1,984,714 |
Investor AB, B Shares | 78,728 | 5,855,794 |
Sandvik AB * | 245,613 | 6,628,548 |
Securitas AB, B Shares | 139,820 | 2,154,700 |
Skandinaviska Enskilda Banken AB, A Shares * | 420,710 | 4,867,156 |
Skanska AB, B Shares | 135,904 | 3,313,430 |
SKF AB, B Shares | 147,507 | 4,040,590 |
SSAB AB, A Shares * | 227,385 | 987,760 |
SSAB AB, B Shares * | 531,291 | 2,099,839 |
Svenska Handelsbanken AB, A Shares * | 434,733 | 4,607,080 |
Swedbank AB, A Shares | 384,536 | 6,775,993 |
Swedish Match AB | 22,357 | 1,616,072 |
Tele2 AB, B Shares | 123,532 | 1,566,926 |
Telefonaktiebolaget LM Ericsson, B Shares | 628,771 | 7,889,485 |
Telia Co. AB | 1,273,458 | 5,171,088 |
Trelleborg AB, B Shares * | 90,095 | 2,304,903 |
Volvo AB, B Shares * | 474,270 | 12,212,307 |
114,741,183 | ||
Switzerland 4.2% | ||
ABB Ltd. | 425,087 | 12,264,744 |
Adecco Group AG | 102,875 | 6,486,364 |
Alcon, Inc. * | 55,741 | 3,850,704 |
Baloise Holding AG | 10,354 | 1,817,354 |
Chocoladefabriken Lindt & Sprungli AG | 11 | 978,129 |
Chocoladefabriken Lindt & Sprungli AG, Participation Certificate | 94 | 791,726 |
Cie Financiere Richemont S.A. | 109,685 | 10,611,082 |
Clariant AG | 56,961 | 1,196,099 |
Credit Suisse Group AG | 440,464 | 6,385,828 |
DKSH Holding AG | 19,442 | 1,459,277 |
Geberit AG | 4,038 | 2,391,666 |
Georg Fischer AG | 1,321 | 1,705,787 |
Givaudan S.A. | 809 | 3,062,458 |
Julius Baer Group Ltd. | 32,867 | 2,025,824 |
Kuehne & Nagel International AG | 11,825 | 2,817,467 |
LafargeHolcim Ltd. * | 193,257 | 10,707,800 |
Lonza Group AG | 3,984 | 2,525,151 |
Nestle S.A. | 440,066 | 46,179,465 |
Novartis AG | 290,038 | 25,050,338 |
Roche Holding AG | 97,589 | 32,118,240 |
Roche Holding AG, Bearer Shares | 4,161 | 1,396,346 |
Schindler Holding AG | 2,802 | 749,635 |
Schindler Holding AG, Participation Certificate | 5,964 | 1,635,110 |
SGS S.A. | 795 | 2,278,830 |
Sika AG | 11,688 | 3,101,135 |
Sonova Holding AG * | 5,405 | 1,389,908 |
Swiss Life Holding AG | 7,782 | 3,887,991 |
Swiss Prime Site AG | 13,469 | 1,266,113 |
Swiss Re AG | 104,451 | 9,857,830 |
Swisscom AG | 7,650 | 3,857,533 |
The Swatch Group AG | 20,166 | 1,162,781 |
The Swatch Group AG, Bearer Shares | 13,716 | 4,108,891 |
UBS Group AG | 926,392 | 14,428,507 |
Zurich Insurance Group AG | 37,048 | 15,203,062 |
238,749,175 | ||
United Kingdom 16.3% | ||
3i Group plc | 184,593 | 2,856,941 |
Admiral Group plc | 33,214 | 1,433,960 |
Aggreko plc | 196,024 | 2,192,491 |
Anglo American plc | 376,966 | 14,612,086 |
Antofagasta plc | 92,404 | 2,302,814 |
Security | Number of Shares | Value ($) |
Ashtead Group plc | 96,432 | 5,231,080 |
Associated British Foods plc * | 145,232 | 4,808,200 |
AstraZeneca plc | 151,791 | 14,738,618 |
Aviva plc | 1,745,893 | 8,833,742 |
Babcock International Group plc * | 250,367 | 909,049 |
BAE Systems plc | 953,344 | 6,449,763 |
Balfour Beatty plc * | 332,422 | 1,279,948 |
Barclays plc | 7,952,165 | 17,744,214 |
Barratt Developments plc * | 433,627 | 4,027,953 |
Bellway plc | 52,794 | 2,072,622 |
Berkeley Group Holdings plc | 40,446 | 2,291,874 |
BHP Group plc | 645,740 | 20,489,264 |
BP plc | 17,410,653 | 71,017,342 |
British American Tobacco plc | 627,796 | 21,815,783 |
BT Group plc * | 9,041,775 | 15,618,342 |
Bunzl plc | 86,522 | 2,706,020 |
Burberry Group plc * | 125,865 | 3,194,771 |
Carnival plc * | 142,236 | 3,133,044 |
Centrica plc * | 11,842,278 | 8,735,314 |
Coca-Cola HBC AG | 52,202 | 1,633,374 |
Compass Group plc * | 437,216 | 8,894,008 |
CRH plc | 260,831 | 11,286,476 |
Croda International plc | 16,345 | 1,409,509 |
DCC plc | 36,372 | 2,934,144 |
Diageo plc | 316,590 | 12,448,821 |
Direct Line Insurance Group plc | 735,135 | 3,295,104 |
Dixons Carphone plc * | 2,272,588 | 4,025,648 |
Drax Group plc | 370,576 | 1,980,188 |
DS Smith plc * | 489,312 | 2,718,643 |
easyJet plc * | 162,851 | 2,244,035 |
Evraz plc | 297,199 | 2,372,586 |
Experian plc | 85,386 | 2,713,467 |
Ferguson plc | 68,161 | 8,035,354 |
Firstgroup plc * | 2,222,918 | 2,797,077 |
Flutter Entertainment plc * | 11,718 | 2,264,123 |
G4S plc * | 920,408 | 3,124,407 |
GlaxoSmithKline plc | 1,119,592 | 18,639,622 |
Glencore plc * | 14,649,215 | 59,538,498 |
Hays plc * | 938,269 | 1,996,551 |
HSBC Holdings plc * | 8,117,015 | 48,366,903 |
IMI plc | 85,964 | 1,573,239 |
Imperial Brands plc | 583,668 | 10,877,636 |
Inchcape plc * | 309,387 | 3,066,809 |
Informa plc * | 210,412 | 1,620,328 |
InterContinental Hotels Group plc * | 35,773 | 2,501,713 |
International Consolidated Airlines Group S.A. * | 1,030,984 | 2,766,805 |
Intertek Group plc | 18,013 | 1,348,855 |
Investec plc | 320,514 | 877,177 |
ITV plc * | 2,336,360 | 3,588,214 |
J Sainsbury plc | 1,912,330 | 6,047,751 |
John Wood Group plc * | 482,605 | 2,018,119 |
Johnson Matthey plc | 141,927 | 6,061,983 |
Kingfisher plc * | 2,105,215 | 7,811,526 |
Land Securities Group plc | 184,947 | 1,719,521 |
Legal & General Group plc | 1,749,404 | 6,342,071 |
Lloyds Banking Group plc * | 35,938,899 | 19,596,020 |
London Stock Exchange Group plc | 12,494 | 1,680,060 |
M&G plc | 1,092,858 | 2,809,855 |
Marks & Spencer Group plc * | 2,914,872 | 5,782,829 |
Meggitt plc * | 360,119 | 2,130,739 |
Micro Focus International plc * | 221,446 | 1,296,002 |
Mondi plc | 207,757 | 5,009,073 |
National Grid plc | 1,411,744 | 15,916,404 |
Natwest Group plc * | 634,556 | 1,634,173 |
Next plc * | 35,515 | 3,753,808 |
Ninety One plc | 142,409 | 436,830 |
Pearson plc | 374,932 | 3,936,687 |
Security | Number of Shares | Value ($) |
Pennon Group plc | 94,470 | 1,154,367 |
Persimmon plc | 102,545 | 3,713,238 |
Prudential plc | 472,763 | 9,309,767 |
Reckitt Benckiser Group plc | 100,213 | 8,406,473 |
RELX plc | 230,428 | 5,452,585 |
Rentokil Initial plc * | 183,353 | 1,196,367 |
Rio Tinto plc | 413,391 | 35,758,527 |
Rolls-Royce Holdings plc * | 1,951,180 | 2,937,998 |
Royal Dutch Shell plc, A Shares | 3,843,027 | 77,628,226 |
Royal Dutch Shell plc, B Shares | 3,571,977 | 69,296,522 |
Royal Mail plc * | 1,700,132 | 10,760,480 |
RSA Insurance Group plc | 274,149 | 2,588,727 |
Severn Trent plc | 60,924 | 1,865,396 |
Smith & Nephew plc | 142,273 | 2,755,926 |
Smiths Group plc | 105,950 | 2,168,605 |
Smurfit Kappa Group plc | 83,048 | 3,943,078 |
SSE plc | 469,956 | 8,702,573 |
Standard Chartered plc * | 1,056,034 | 6,822,638 |
Standard Life Aberdeen plc | 733,738 | 3,188,310 |
Tate & Lyle plc | 181,863 | 1,848,491 |
Taylor Wimpey plc * | 1,586,892 | 3,496,569 |
Tesco plc | 2,849,622 | 8,956,164 |
The British Land Co. plc | 242,709 | 1,661,368 |
The Sage Group plc | 161,333 | 1,259,977 |
The Weir Group plc * | 67,937 | 1,882,559 |
Travis Perkins plc * | 163,341 | 3,282,778 |
TUI AG *(a) | 929,127 | 5,609,139 |
Unilever plc | 497,147 | 25,946,651 |
United Utilities Group plc | 188,616 | 2,265,746 |
Vodafone Group plc | 20,517,442 | 35,001,989 |
Whitbread plc * | 71,013 | 3,370,669 |
Wm Morrison Supermarkets plc | 2,242,015 | 5,355,401 |
WPP plc | 829,161 | 9,897,694 |
930,902,998 | ||
Total Common Stock | ||
(Cost $4,915,240,312) | 5,629,805,805 | |
Preferred Stock 1.2% of net assets | ||
Germany 0.7% | ||
Bayerische Motoren Werke AG | 49,138 | 3,343,030 |
FUCHS PETROLUB SE | 26,160 | 1,439,681 |
Henkel AG & Co. KGaA | 45,281 | 4,483,806 |
Volkswagen AG | 138,041 | 28,990,220 |
38,256,737 | ||
Italy 0.1% | ||
Telecom Italia S.p.A. - RSP | 7,629,016 | 4,113,336 |
Republic of Korea 0.4% | ||
Hyundai Motor Co., Ltd. | 20,868 | 1,931,706 |
Hyundai Motor Co., Ltd. 2nd | 37,087 | 3,367,044 |
LG Chem Ltd. | 2,860 | 991,518 |
Samsung Electronics Co., Ltd. | 300,179 | 19,450,851 |
25,741,119 | ||
Total Preferred Stock | ||
(Cost $50,332,960) | 68,111,192 | |
Security | Number of Shares | Value ($) |
Rights 0.0% of net assets | ||
Republic of Korea 0.0% | ||
Korean Air Lines Co., Ltd. *(b) | 73,295 | 590,405 |
Total Rights | ||
(Cost $352,462) | 590,405 | |
Other Investment Companies 0.4% of net assets | ||
United States 0.4% | ||
Money Market Fund 0.1% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (c) | 7,993,668 | 7,993,668 |
Securities Lending Collateral 0.3% | ||
Wells Fargo Government Money Market Fund, Select Class 0.03% (c) | 14,527,678 | 14,527,678 |
Total Other Investment Companies | ||
(Cost $22,521,346) | 22,521,346 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
Long | ||||||
MSCI EAFE Index, expires 03/19/21 | 188 | 20,341,600 | (357,873) |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $13,534,062. |
(b) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees. |
(c) | The rate shown is the 7-day yield. |
REIT — | Real Estate Investment Trust |
RSP — | Risparmio (Convertible Savings Shares) |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $5,530,765,007 | $— | $— | $5,530,765,007 | |
Hong Kong | 98,430,847 | — | 609,951 | 99,040,798 | |
Preferred Stock1 | 68,111,192 | — | — | 68,111,192 | |
Rights 1 | |||||
Republic of Korea1 | — | — | 590,405 | 590,405 | |
Other Investment Companies1 | 22,521,346 | — | — | 22,521,346 | |
Liabilities | |||||
Futures Contracts2 | (357,873) | — | — | (357,873) | |
Total | $5,719,470,519 | $— | $1,200,356 | $5,720,670,875 |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments in unaffiliated issuers, at value (cost $4,973,919,402) including securities on loan of $13,534,062 | $5,706,501,070 | |
Collateral invested for securities on loan, at value (cost $14,527,678) | 14,527,678 | |
Deposit with broker for futures contracts | 1,910,304 | |
Foreign currency, at value (cost $6,117,783) | 6,066,713 | |
Receivables: | ||
Dividends | 14,749,760 | |
Foreign tax reclaims | 2,868,050 | |
Income from securities on loan | + | 81,088 |
Total assets | 5,746,704,663 | |
Liabilities | ||
Collateral held for securities on loan | 14,527,678 | |
Payables: | ||
Investments bought | 9,756,851 | |
Management fees | 1,092,243 | |
Variation margin on futures contracts | + | 275,025 |
Total liabilities | 25,651,797 | |
Net Assets | ||
Total assets | 5,746,704,663 | |
Total liabilities | – | 25,651,797 |
Net assets | $5,721,052,866 | |
Net Assets by Source | ||
Capital received from investors | 5,194,194,272 | |
Total distributable earnings | 526,858,594 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$5,721,052,866 | 184,900,000 | $30.94 | ||
Investment Income | ||
Dividends received from unaffiliated issuers (net of foreign withholding tax of $14,105,004) | $124,388,872 | |
Income from non-cash dividends | 8,686,417 | |
Securities on loan, net | + | 1,224,984 |
Total investment income | 134,300,273 | |
Expenses | ||
Management fees | 11,183,146 | |
Professional fees | + | 70,423* |
Total expenses | 11,253,569 | |
Expense reduction by CSIM | - | 70,423* |
Net expenses | – | 11,183,146 |
Net investment income | 123,117,127 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on unaffiliated issuers | (94,735,736) | |
Net realized gains on in-kind redemptions on unaffiliated issuers | 147,230,489 | |
Net realized gains on futures contracts | 4,565,531 | |
Net realized gains on foreign currency transactions | + | 232,313 |
Net realized gains | 57,292,597 | |
Net change in unrealized appreciation (depreciation) on unaffiliated issuers | 977,945,572 | |
Net change in unrealized appreciation (depreciation) on futures contracts | 1,422,549 | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | 85,566 |
Net change in unrealized appreciation (depreciation) | + | 979,453,687 |
Net realized and unrealized gains | 1,036,746,284 | |
Increase in net assets resulting from operations | $1,159,863,411 |
* | Professional fees associated with the filing of tax claims in the European Union deemed to be non-routine expenses of the fund. See financial notes 2 (d) and 4 for additional information. |
Operations | ||||
3/1/20-2/28/21 | 3/1/19-2/29/20 | |||
Net investment income | $123,117,127 | $145,349,722 | ||
Net realized gains (losses) | 57,292,597 | (6,382,488) | ||
Net change in unrealized appreciation (depreciation) | + | 979,453,687 | (402,664,183) | |
Increase (decrease) in net assets resulting from operations | 1,159,863,411 | (263,696,949) | ||
Distributions to Shareholders | ||||
Total distributions | ($114,361,960) | ($150,746,760) |
Transactions in Fund Shares | ||||||||
3/1/20-2/28/21 | 3/1/19-2/29/20 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 40,300,000 | $981,805,769 | 28,200,000 | $790,856,322 | ||||
Shares redeemed | + | (30,400,000) | (722,949,976) | (1,500,000) | (43,296,950) | |||
Net transactions in fund shares | 9,900,000 | $258,855,793 | 26,700,000 | $747,559,372 | ||||
Shares Outstanding and Net Assets | ||||||||
3/1/20-2/28/21 | 3/1/19-2/29/20 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 175,000,000 | $4,416,695,622 | 148,300,000 | $4,083,579,959 | ||||
Total increase | + | 9,900,000 | 1,304,357,244 | 26,700,000 | 333,115,663 | |||
End of period | 184,900,000 | $5,721,052,866 | 175,000,000 | $4,416,695,622 |
3/1/20– 2/28/21 | 3/1/19– 2/29/20 | 3/1/18– 2/28/19 | 3/1/17– 2/28/18 | 3/1/16– 2/28/17 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $28.53 | $31.23 | $36.02 | $29.99 | $24.81 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.53 | 0.80 | 0.79 | 0.62 | 0.55 | |
Net realized and unrealized gains (losses) | 7.66 | (2.60) | (4.82) | 6.11 | 5.18 | |
Total from investment operations | 8.19 | (1.80) | (4.03) | 6.73 | 5.73 | |
Less distributions: | ||||||
Distributions from net investment income | (0.61) | (0.90) | (0.76) | (0.70) | (0.55) | |
Net asset value at end of period | $36.11 | $28.53 | $31.23 | $36.02 | $29.99 | |
Total return | 28.97% | (6.06%) | (11.06%) | 22.47% | 23.26% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.39% | 0.39% | 0.39% | 0.39% | 0.46% | |
Net investment income (loss) | 1.78% | 2.54% | 2.38% | 1.83% | 1.94% | |
Portfolio turnover rate2 | 24% | 31% | 25% | 18% | 25% | |
Net assets, end of period (x 1,000) | $2,292,915 | $1,900,303 | $1,842,568 | $1,811,898 | $866,749 | |
Security | Number of Shares | Value ($) |
Common Stock 99.3% of net assets | ||
Australia 5.8% | ||
Adbri Ltd. | 758,198 | 1,907,740 |
ALS Ltd. | 199,928 | 1,529,268 |
Ansell Ltd. | 70,905 | 1,980,050 |
ASX Ltd. | 32,696 | 1,711,175 |
AusNet Services | 1,432,871 | 1,835,939 |
Austal Ltd. | 264,121 | 484,623 |
Australian Pharmaceutical Industries Ltd. | 1,351,633 | 1,161,542 |
Bank of Queensland Ltd. | 368,884 | 2,510,336 |
Bank of Queensland Ltd., Interim Shares (a) | 157,642 | 1,072,788 |
Bapcor Ltd. | 130,878 | 693,068 |
Beach Energy Ltd. | 549,997 | 702,583 |
Bega Cheese Ltd. | 249,786 | 1,185,446 |
Blackmores Ltd. * | 8,580 | 538,053 |
Breville Group Ltd. | 40,129 | 867,415 |
carsales.com Ltd. | 55,336 | 800,272 |
Challenger Ltd. | 467,106 | 2,332,536 |
Charter Hall Group | 60,784 | 558,119 |
Charter Hall Retail REIT | 192,068 | 551,673 |
CIMIC Group Ltd. * | 145,081 | 2,391,329 |
Cleanaway Waste Management Ltd. | 608,075 | 1,026,282 |
Cochlear Ltd. | 11,080 | 1,813,504 |
Collins Foods Ltd. | 68,174 | 505,108 |
Costa Group Holdings Ltd. | 269,629 | 951,885 |
Cromwell Property Group | 1,093,295 | 668,679 |
CSR Ltd. | 783,628 | 3,318,566 |
Deterra Royalties Ltd. * | 167,867 | 591,330 |
Dexus | 360,638 | 2,484,933 |
Domino's Pizza Enterprises Ltd. | 12,204 | 849,878 |
Eagers Automotive Ltd. | 213,828 | 2,193,479 |
Eclipx Group Ltd. * | 747,173 | 1,133,784 |
Elders Ltd. | 80,397 | 700,860 |
Evolution Mining Ltd. | 309,626 | 1,006,792 |
Flight Centre Travel Group Ltd. * | 122,302 | 1,572,738 |
G.U.D. Holdings Ltd. | 60,864 | 564,037 |
G8 Education Ltd. | 1,296,887 | 1,079,354 |
Genworth Mortgage Insurance Australia Ltd. | 415,798 | 830,530 |
GrainCorp Ltd., Class A | 417,661 | 1,364,550 |
GWA Group Ltd. | 277,058 | 654,220 |
Harvey Norman Holdings Ltd. | 557,851 | 2,263,094 |
Healius Ltd. | 659,282 | 2,046,768 |
IGO Ltd. | 184,604 | 1,004,730 |
Iluka Resources Ltd. | 167,867 | 964,323 |
Inghams Group Ltd. | 255,332 | 693,850 |
InvoCare Ltd. | 59,414 | 516,561 |
IOOF Holdings Ltd. | 495,402 | 1,258,012 |
IRESS Ltd. | 88,090 | 626,751 |
James Hardie Industries plc | 112,336 | 3,175,294 |
JB Hi-Fi Ltd. | 83,878 | 2,818,973 |
Link Administration Holdings Ltd. | 269,367 | 990,584 |
Magellan Financial Group Ltd. | 16,263 | 546,945 |
McMillan Shakespeare Ltd. | 78,944 | 757,257 |
Mineral Resources Ltd. | 90,448 | 2,655,342 |
Security | Number of Shares | Value ($) |
Monadelphous Group Ltd. | 160,070 | 1,435,065 |
nib Holdings Ltd. | 370,592 | 1,589,494 |
Nine Entertainment Co. Holdings Ltd. | 785,321 | 1,744,947 |
Northern Star Resources Ltd. | 122,643 | 969,442 |
NRW Holdings Ltd. | 649,490 | 1,010,699 |
Nufarm Ltd. * | 399,968 | 1,486,345 |
Orora Ltd. | 1,213,370 | 2,743,022 |
OZ Minerals Ltd. | 233,499 | 4,047,550 |
Pact Group Holdings Ltd. | 395,221 | 1,000,555 |
Pendal Group Ltd. | 242,913 | 1,117,096 |
Perenti Global Ltd. | 652,391 | 575,792 |
Perpetual Ltd. | 43,107 | 1,023,230 |
Platinum Asset Management Ltd. | 198,387 | 711,127 |
Premier Investments Ltd. | 48,788 | 796,982 |
Qantas Airways Ltd. * | 850,499 | 3,292,281 |
Qube Holdings Ltd. | 609,283 | 1,448,140 |
REA Group Ltd. | 6,470 | 685,241 |
Regis Resources Ltd. | 242,794 | 588,350 |
Reliance Worldwide Corp., Ltd. | 274,483 | 913,770 |
Resolute Mining Ltd. * | 709,455 | 354,273 |
Sandfire Resources Ltd. | 280,320 | 1,323,845 |
Santos Ltd. | 581,635 | 3,255,682 |
SEEK Ltd. | 123,289 | 2,453,074 |
Seven Group Holdings Ltd. | 54,992 | 923,447 |
Seven West Media Ltd. * | 5,841,655 | 2,464,822 |
Shopping Centres Australasia Property Group | 319,646 | 579,080 |
Sigma Healthcare Ltd. * | 3,673,137 | 1,891,089 |
Southern Cross Media Group Ltd. * | 361,522 | 649,345 |
St. Barbara Ltd. | 384,683 | 619,469 |
Steadfast Group Ltd. | 196,373 | 606,608 |
Super Retail Group Ltd. | 201,220 | 1,713,630 |
Sydney Airport * | 339,443 | 1,539,989 |
Tassal Group Ltd. | 184,588 | 483,029 |
The GPT Group | 640,961 | 2,118,910 |
The Star Entertainment Grp Ltd. * | 1,030,003 | 2,942,510 |
TPG Telecom Ltd. * | 182,286 | 959,655 |
Treasury Wine Estates Ltd. | 347,435 | 2,931,927 |
Tuas Ltd. * | 102,273 | 52,259 |
United Malt Grp Ltd. | 424,306 | 1,199,016 |
Vicinity Centres | 2,262,220 | 2,872,313 |
Vocus Group Ltd. * | 233,946 | 912,850 |
Washington H Soul Pattinson & Co., Ltd. | 33,899 | 784,189 |
Whitehaven Coal Ltd. * | 1,590,924 | 1,872,174 |
Worley Ltd. | 327,824 | 2,817,195 |
133,942,456 | ||
Austria 0.7% | ||
AT&S Austria Technologie & Systemtechnik AG | 33,215 | 983,719 |
BAWAG Group AG * | 52,648 | 2,750,434 |
CA Immobilien Anlagen AG | 23,607 | 1,018,656 |
DO & Co. AG * | 8,184 | 639,733 |
EVN AG | 30,269 | 661,329 |
IMMOFINANZ AG * | 34,715 | 699,897 |
Lenzing AG * | 26,617 | 3,838,156 |
Oesterreichische Post AG (b) | 40,761 | 1,652,488 |
Security | Number of Shares | Value ($) |
UNIQA Insurance Group AG | 136,629 | 1,064,695 |
Verbund AG | 19,352 | 1,484,534 |
Vienna Insurance Group AG Wiener Versicherung Gruppe | 38,612 | 1,042,796 |
15,836,437 | ||
Belgium 1.2% | ||
Ackermans & van Haaren N.V. | 16,435 | 2,665,160 |
AGFA-Gevaert N.V. * | 228,442 | 1,031,492 |
Barco N.V. | 36,966 | 912,642 |
Befimmo S.A. | 11,846 | 483,842 |
Bekaert S.A. | 82,183 | 3,042,489 |
bpost S.A. * | 236,437 | 2,575,710 |
Cie d'Entreprises CFE * | 11,050 | 1,191,029 |
Cofinimmo S.A. | 7,064 | 1,100,938 |
D'Ieteren S.A. N.V. | 30,085 | 2,559,854 |
Elia Group S.A. N.V. | 10,200 | 1,109,316 |
Euronav N.V. | 123,560 | 1,102,332 |
Gimv N.V. | 11,869 | 698,720 |
KBC Ancora * | 12,536 | 503,960 |
Melexis N.V. | 8,164 | 971,127 |
Ontex Group N.V. * | 125,122 | 1,293,959 |
Orange Belgium S.A. | 42,571 | 1,178,137 |
Recticel S.A. | 50,725 | 784,402 |
Sofina S.A. | 2,825 | 941,256 |
Telenet Group Holding N.V. | 48,342 | 1,938,705 |
Tessenderlo Group S.A. * | 25,413 | 1,135,144 |
27,220,214 | ||
Canada 8.5% | ||
Aecon Group, Inc. | 98,297 | 1,428,645 |
Ag Growth International, Inc. | 18,313 | 567,472 |
Aimia, Inc. * | 205,339 | 692,573 |
Alamos Gold, Inc., Class A | 56,992 | 406,057 |
Algonquin Power & Utilities Corp. | 152,380 | 2,372,362 |
Allied Properties Real Estate Investment Trust | 32,013 | 969,999 |
AltaGas Ltd. | 198,083 | 3,018,184 |
Altus Group Ltd. | 12,456 | 549,205 |
Artis Real Estate Investment Trust | 174,628 | 1,551,789 |
ATS Automation Tooling Systems, Inc. * | 36,314 | 804,587 |
AutoCanada, Inc. * | 76,900 | 1,852,039 |
B2Gold Corp. | 127,576 | 558,271 |
Badger Daylighting Ltd. | 22,510 | 720,107 |
Baytex Energy Corp. * | 2,407,558 | 2,339,097 |
Birchcliff Energy Ltd. | 602,670 | 1,413,847 |
BlackBerry Ltd. * | 247,701 | 2,518,098 |
Boardwalk Real Estate Investment Trust | 31,275 | 907,617 |
Boyd Group Services, Inc. | 4,951 | 823,563 |
BRP, Inc. | 15,474 | 1,123,882 |
CAE, Inc. | 136,540 | 3,632,439 |
Cameco Corp. | 258,733 | 4,081,278 |
Canadian Apartment Properties REIT | 38,298 | 1,544,020 |
Canadian Utilities Ltd., Class A | 99,640 | 2,370,582 |
Canadian Western Bank | 65,531 | 1,731,447 |
Canfor Corp. * | 164,609 | 3,375,395 |
Capital Power Corp. | 81,573 | 2,210,718 |
Cascades, Inc. | 135,195 | 1,792,989 |
CCL Industries, Inc., Class B | 68,253 | 3,613,743 |
Celestica, Inc. * | 356,831 | 2,973,592 |
Centerra Gold, Inc. | 128,807 | 1,256,530 |
CES Energy Solutions Corp. | 784,254 | 953,990 |
Chartwell Retirement Residences | 132,416 | 1,145,304 |
Chemtrade Logistics Income Fund | 253,876 | 1,425,796 |
Choice Properties Real Estate Investment Trust | 72,526 | 728,697 |
Security | Number of Shares | Value ($) |
Chorus Aviation, Inc. | 363,685 | 1,206,538 |
Cineplex, Inc. * | 148,017 | 1,615,794 |
Cogeco Communications, Inc. | 8,397 | 763,225 |
Cogeco, Inc. | 18,542 | 1,367,656 |
Colliers International Group, Inc. | 12,637 | 1,316,404 |
Cominar Real Estate Investment Trust | 303,910 | 2,117,288 |
Constellation Software, Inc. | 2,121 | 2,760,517 |
Corus Entertainment, Inc., B Shares | 669,029 | 2,784,979 |
Crombie Real Estate Investment Trust (b) | 52,954 | 611,104 |
Dream Office Real Estate Investment Trust | 74,185 | 1,168,443 |
Eldorado Gold Corp. * | 43,879 | 462,012 |
Element Fleet Management Corp. | 105,628 | 1,041,262 |
Enerflex Ltd. | 251,678 | 1,737,493 |
Enerplus Corp. | 645,964 | 3,143,079 |
Ensign Energy Services, Inc. | 1,701,512 | 1,585,927 |
Exchange Income Corp. (b) | 32,265 | 1,027,587 |
Extendicare, Inc. (b) | 101,180 | 530,675 |
First Capital Real Estate Investment Trust | 93,404 | 1,145,785 |
FirstService Corp. | 5,673 | 865,244 |
Franco-Nevada Corp. | 15,080 | 1,623,065 |
Frontera Energy Corp. | 427,260 | 2,132,925 |
Granite Real Estate Investment Trust | 11,198 | 644,814 |
Great Canadian Gaming Corp. * | 39,501 | 1,322,940 |
Home Capital Group, Inc. * | 64,740 | 1,606,227 |
Hudbay Minerals, Inc. | 385,891 | 2,776,830 |
IAMGOLD Corp. * | 364,749 | 1,086,180 |
IGM Financial, Inc. | 76,435 | 2,096,227 |
Innergex Renewable Energy, Inc. | 39,928 | 759,452 |
Interfor Corp. * | 124,283 | 2,733,048 |
Intertape Polymer Group, Inc. | 61,428 | 1,163,056 |
Just Energy Group, Inc. *(b) | 54,636 | 216,645 |
Kirkland Lake Gold Ltd. | 28,440 | 934,971 |
Laurentian Bank of Canada | 42,735 | 1,176,731 |
Lundin Mining Corp. | 395,688 | 4,553,850 |
Maple Leaf Foods, Inc. | 83,752 | 1,745,164 |
Martinrea International, Inc. | 239,565 | 2,815,740 |
Medical Facilities Corp. | 155,634 | 860,536 |
MEG Energy Corp. * | 544,917 | 2,827,887 |
Morneau Shepell, Inc. | 22,568 | 583,096 |
Mullen Group Ltd. | 205,958 | 1,630,094 |
NFI Group, Inc. | 102,346 | 2,376,755 |
Northland Power, Inc. | 44,740 | 1,493,100 |
OceanaGold Corp. * | 736,238 | 1,070,046 |
Pan American Silver Corp. | 32,173 | 1,068,621 |
Parex Resources, Inc. * | 82,208 | 1,320,783 |
Pason Systems, Inc. | 105,479 | 808,172 |
Peyto Exploration & Development Corp. | 829,699 | 3,906,008 |
PrairieSky Royalty Ltd. | 100,204 | 1,021,036 |
Precision Drilling Corp. * | 87,547 | 2,033,082 |
Premium Brands Holdings Corp. | 12,470 | 1,014,640 |
Primo Water Corp. | 100,185 | 1,441,050 |
Quebecor, Inc., Class B | 74,648 | 1,939,905 |
Richelieu Hardware Ltd. | 34,145 | 986,591 |
Ritchie Bros. Auctioneers, Inc. | 23,587 | 1,293,931 |
Russel Metals, Inc. | 149,578 | 2,927,759 |
Sagen MI Canada, Inc. | 32,703 | 1,117,740 |
Secure Energy Services, Inc. | 937,718 | 2,414,661 |
Seven Generations Energy Ltd., A Shares * | 564,866 | 3,747,926 |
ShawCor Ltd. | 544,962 | 2,199,649 |
Sienna Senior Living, Inc. (b) | 51,639 | 572,271 |
Sierra Wireless, Inc. * | 49,718 | 840,415 |
Sleep Country Canada Holdings, Inc. | 31,409 | 668,123 |
SmartCentres Real Estate Investment Trust | 82,693 | 1,717,219 |
SSR Mining, Inc. * | 29,322 | 418,522 |
Stantec, Inc. | 63,458 | 2,509,749 |
Security | Number of Shares | Value ($) |
Stella-Jones, Inc. | 40,791 | 1,482,460 |
Superior Plus Corp. | 165,232 | 1,728,019 |
The North West Co., Inc. | 47,784 | 1,174,973 |
TMX Group Ltd. | 12,819 | 1,230,158 |
Toromont Industries Ltd. | 29,248 | 2,141,619 |
Tourmaline Oil Corp. | 207,966 | 3,804,496 |
Transat AT, Inc. * | 208,165 | 853,378 |
Transcontinental, Inc., Class A | 146,001 | 2,522,150 |
Trican Well Service Ltd. *(b) | 1,038,566 | 1,550,466 |
Turquoise Hill Resources Ltd. * | 133,173 | 2,030,204 |
Uni-Select, Inc. | 156,132 | 1,294,934 |
Vermilion Energy, Inc. | 486,671 | 3,063,798 |
Western Forest Products, Inc. | 1,413,296 | 1,875,464 |
Westshore Terminals Investment Corp. | 57,176 | 853,575 |
Wheaton Precious Metals Corp. | 54,624 | 1,964,048 |
Whitecap Resources, Inc. | 808,624 | 3,634,337 |
Winpak Ltd. | 21,947 | 688,574 |
Yamana Gold, Inc. | 252,249 | 1,008,199 |
193,803,010 | ||
Denmark 1.5% | ||
Chr Hansen Holding A/S * | 18,172 | 1,568,554 |
D/S Norden A/S | 53,524 | 1,125,304 |
Demant A/S * | 38,020 | 1,575,724 |
Dfds A/S * | 32,838 | 1,594,127 |
FLSmidth & Co. A/S * | 71,667 | 3,036,891 |
Genmab A/S * | 1,930 | 652,128 |
GN Store Nord A/S | 25,369 | 2,145,055 |
H. Lundbeck A/S | 28,347 | 1,085,989 |
Jyske Bank A/S * | 69,247 | 3,010,076 |
Matas A/S * | 94,900 | 1,267,141 |
Nilfisk Holding A/S * | 44,687 | 1,079,564 |
NKT A/S * | 33,771 | 1,325,207 |
Per Aarsleff Holding A/S, Class B | 24,449 | 1,107,463 |
Ringkjoebing Landbobank A/S | 6,522 | 643,018 |
Rockwool International A/S, B Shares | 3,661 | 1,335,021 |
Royal Unibrew A/S | 15,739 | 1,630,356 |
Scandinavian Tobacco Group A/S, Class A | 70,292 | 1,313,762 |
Schouw & Co. A/S | 11,756 | 1,197,428 |
SimCorp A/S | 6,163 | 753,493 |
Spar Nord Bank A/S * | 65,858 | 689,083 |
Sydbank A/S * | 89,680 | 2,061,121 |
The Drilling Co. of 1972 A/S * | 27,365 | 1,098,843 |
Topdanmark A/S | 16,832 | 796,232 |
Tryg A/S | 50,466 | 1,598,107 |
33,689,687 | ||
Finland 1.1% | ||
Cargotec Oyj, B Shares | 72,227 | 3,822,374 |
Finnair Oyj * | 1,248,707 | 1,085,985 |
Huhtamaki Oyj | 55,997 | 2,533,890 |
Kemira Oyj | 112,425 | 1,824,490 |
Kojamo Oyj | 28,321 | 545,891 |
Konecranes Oyj | 73,899 | 3,299,115 |
Metsa Board Oyj | 154,408 | 1,729,890 |
Orion Oyj, Class B | 47,406 | 1,954,681 |
Sanoma Oyj | 79,630 | 1,322,239 |
TietoEVRY Oyj | 54,614 | 1,699,688 |
Tokmanni Group Corp. | 33,463 | 731,113 |
Uponor Oyj | 52,001 | 1,095,743 |
Valmet Oyj | 77,621 | 2,621,099 |
YIT Oyj | 152,865 | 866,507 |
25,132,705 | ||
Security | Number of Shares | Value ($) |
France 4.1% | ||
Aeroports de Paris * | 17,390 | 2,220,560 |
Albioma S.A. | 14,222 | 697,412 |
Alten S.A. * | 18,386 | 2,043,115 |
Amundi S.A. * | 24,433 | 1,868,377 |
Beneteau S.A. | 62,662 | 939,330 |
BioMerieux | 7,786 | 994,208 |
CGG S.A. * | 839,821 | 987,366 |
Cie Plastic Omnium S.A. | 81,744 | 2,948,844 |
Coface S.A. * | 98,749 | 1,084,747 |
Covivio | 24,722 | 2,090,027 |
Dassault Aviation S.A. * | 1,015 | 1,100,182 |
Derichebourg S.A. * | 289,414 | 2,309,736 |
Edenred | 51,682 | 2,878,753 |
Elior Group S.A. | 327,571 | 2,679,862 |
Eramet S.A. * | 20,058 | 1,493,895 |
Eurofins Scientific SE * | 20,424 | 1,825,583 |
Euronext N.V. | 15,449 | 1,672,678 |
Fnac Darty S.A. * | 35,726 | 2,179,052 |
Gaztransport Et Technigaz S.A. | 6,215 | 525,046 |
Gecina S.A. | 13,577 | 1,890,229 |
Getlink SE * | 159,880 | 2,633,426 |
ICADE | 22,742 | 1,689,379 |
Iliad S.A. | 13,758 | 2,448,141 |
Imerys S.A. | 55,734 | 2,891,358 |
Ipsen S.A. | 13,823 | 1,185,391 |
IPSOS | 58,974 | 2,294,224 |
JCDecaux S.A. * | 58,247 | 1,386,431 |
Kaufman & Broad S.A. | 20,465 | 910,401 |
Korian S.A. * | 44,835 | 1,567,317 |
Maisons du Monde S.A. * | 69,920 | 1,269,639 |
Mercialys S.A. | 108,101 | 1,182,885 |
Mersen S.A. * | 21,256 | 734,025 |
Metropole Television S.A. * | 100,501 | 2,020,123 |
Nexans S.A. * | 42,011 | 3,281,396 |
Nexity S.A. | 57,459 | 2,821,831 |
Orpea S.A. * | 17,282 | 2,086,781 |
Quadient S.A. | 111,819 | 2,567,934 |
Remy Cointreau S.A. | 7,189 | 1,378,709 |
Sartorius Stedim Biotech | 1,627 | 714,897 |
SEB S.A. | 16,258 | 2,934,440 |
Societe BIC S.A. | 41,826 | 2,360,730 |
Solocal Group * | 145,272 | 549,272 |
Sopra Steria Group * | 11,938 | 1,951,849 |
SPIE S.A. * | 125,261 | 2,831,018 |
Tarkett S.A. * | 76,487 | 1,169,783 |
Technicolor S.A. *(b) | 388,424 | 918,893 |
Television Francaise 1 S.A. * | 240,090 | 2,105,518 |
Trigano S.A. | 6,012 | 1,134,740 |
Ubisoft Entertainment S.A. * | 29,676 | 2,434,281 |
Vallourec S.A. *(b) | 36,597 | 1,800,179 |
Vicat S.A. | 32,542 | 1,574,054 |
Worldline S.A. * | 42,761 | 3,830,463 |
95,088,510 | ||
Germany 4.3% | ||
1&1 Drillisch AG | 41,505 | 1,180,374 |
Aareal Bank AG * | 94,626 | 2,526,855 |
alstria Office REIT-AG | 38,437 | 642,904 |
Aroundtown S.A. | 181,281 | 1,323,314 |
Bechtle AG | 9,593 | 1,819,954 |
Befesa S.A. | 18,419 | 1,256,462 |
Bilfinger SE (b) | 70,673 | 2,530,595 |
CANCOM SE | 15,413 | 991,540 |
Carl Zeiss Meditec AG | 6,381 | 962,735 |
CECONOMY AG * | 358,116 | 2,247,302 |
Security | Number of Shares | Value ($) |
Cewe Stiftung & Co. KGaA | 4,795 | 633,235 |
CTS Eventim AG & Co., KGaA * | 15,387 | 1,053,368 |
Deutsche Euroshop AG * | 38,707 | 835,350 |
Deutsche Pfandbriefbank AG * | 305,192 | 3,345,091 |
Deutz AG * | 286,561 | 2,106,097 |
Dialog Semiconductor plc * | 48,559 | 3,795,795 |
Duerr AG | 62,459 | 2,480,593 |
DWS Group GmbH & Co. KGaA | 23,791 | 997,574 |
ElringKlinger AG *(b) | 101,600 | 1,709,244 |
Fielmann AG * | 12,007 | 951,688 |
Fraport AG Frankfurt Airport Services Worldwide * | 37,693 | 2,392,817 |
Gerresheimer AG | 16,694 | 1,734,528 |
Grand City Properties S.A. | 34,731 | 857,463 |
GRENKE AG (b) | 7,532 | 316,691 |
Hamburger Hafen und Logistik AG | 28,200 | 720,524 |
Heidelberger Druckmaschinen AG * | 1,061,861 | 1,550,531 |
HOCHTIEF AG | 22,194 | 1,989,451 |
Hornbach Holding AG & Co. KGaA | 20,640 | 1,959,131 |
Indus Holding AG | 34,430 | 1,393,734 |
Jenoptik AG | 29,769 | 959,709 |
JOST Werke AG * | 16,541 | 962,714 |
Kloeckner & Co. SE * | 473,743 | 5,074,633 |
Knorr-Bremse AG | 23,432 | 3,001,743 |
Koenig & Bauer AG * | 29,183 | 874,931 |
Krones AG (b) | 21,606 | 1,831,841 |
LEG Immobilien AG | 14,513 | 1,993,060 |
Nordex SE * | 73,590 | 1,982,982 |
Norma Group SE | 36,455 | 1,744,299 |
Pfeiffer Vacuum Technology AG | 3,087 | 598,021 |
Puma SE * | 24,047 | 2,567,982 |
QIAGEN N.V. * | 37,257 | 1,854,124 |
Rational AG | 820 | 705,679 |
RTL Group S.A. * | 65,232 | 3,694,473 |
SAF-Holland SE * | 110,983 | 1,651,559 |
Scout24 AG | 14,805 | 1,122,246 |
Siemens Healthineers AG | 48,116 | 2,676,619 |
Siltronic AG * | 2,820 | 472,705 |
Siltronic AG | 11,259 | 1,890,715 |
Sixt SE * | 11,174 | 1,395,633 |
Software AG | 26,968 | 1,205,912 |
Stabilus S.A. | 14,149 | 1,063,933 |
Stroeer SE & CO. KGaA | 8,232 | 742,905 |
Suedzucker AG | 115,180 | 1,821,665 |
TAG Immobilien AG | 44,191 | 1,263,736 |
Takkt AG * | 63,460 | 904,306 |
Talanx AG * | 41,106 | 1,719,363 |
Wacker Chemie AG | 22,959 | 2,997,164 |
Wacker Neuson SE * | 45,643 | 934,069 |
Zalando SE * | 24,343 | 2,512,131 |
98,525,792 | ||
Hong Kong 4.2% | ||
Asia Cement China Holdings Corp. | 459,748 | 432,643 |
ASM Pacific Technology Ltd. | 197,546 | 2,747,744 |
BOC Aviation Ltd. | 99,704 | 963,963 |
Brightoil Petroleum Holdings Ltd. *(a) | 2,380,161 | — |
Budweiser Brewing Co. APAC Ltd. | 248,878 | 760,364 |
Cafe de Coral Holdings Ltd. | 442,534 | 981,209 |
Cathay Pacific Airways Ltd. * | 1,581,565 | 1,467,933 |
China Travel International Investment Hong Kong Ltd. * | 4,216,259 | 733,749 |
Chow Sang Sang Holdings International Ltd. | 764,197 | 1,036,353 |
Chow Tai Fook Jewellery Group Ltd. | 1,129,361 | 1,551,946 |
CITIC Telecom International Holdings Ltd. | 1,835,531 | 593,912 |
CK Infrastructure Holdings Ltd. | 114,099 | 661,147 |
Security | Number of Shares | Value ($) |
Cowell e Holdings, Inc. (b) | 1,432,331 | 1,133,701 |
Dah Sing Financial Holdings Ltd. | 237,405 | 768,157 |
Dairy Farm International Holdings Ltd. | 313,019 | 1,355,372 |
FIH Mobile Ltd. * | 10,916,000 | 1,646,402 |
First Pacific Co., Ltd. | 10,625,114 | 3,478,996 |
Fortune Real Estate Investment Trust | 675,442 | 630,396 |
Giordano International Ltd. | 4,406,615 | 880,488 |
Haitong International Securities Group Ltd. | 2,588,317 | 797,447 |
Hang Lung Group Ltd. | 979,370 | 2,449,261 |
Hang Lung Properties Ltd. | 1,009,560 | 2,615,862 |
Hutchison Telecommunications Hong Kong Holdings Ltd. | 3,636,197 | 628,115 |
Hysan Development Co., Ltd. | 310,060 | 1,321,003 |
IGG, Inc. | 847,887 | 1,265,707 |
Johnson Electric Holdings Ltd. | 579,996 | 1,674,787 |
K Wah International Holdings Ltd. | 1,852,179 | 952,670 |
Kerry Logistics Network Ltd. | 612,604 | 1,784,740 |
Kerry Properties Ltd. | 849,429 | 2,732,022 |
Lee & Man Paper Manufacturing Ltd. | 2,075,512 | 1,923,715 |
Lifestyle International Holdings Ltd. * | 699,205 | 624,632 |
Luk Fook Holdings International Ltd. | 668,067 | 1,694,852 |
Man Wah Holdings Ltd. | 734,463 | 1,609,554 |
Melco International Development Ltd. | 736,535 | 1,526,743 |
MGM China Holdings Ltd. | 464,736 | 829,142 |
Minth Group Ltd. | 443,162 | 1,948,065 |
MMG Ltd. * | 4,433,888 | 2,794,990 |
NagaCorp Ltd. | 602,584 | 798,541 |
Nexteer Automotive Group Ltd. | 1,557,899 | 2,060,503 |
NWS Holdings Ltd. | 2,271,050 | 2,567,515 |
Pacific Basin Shipping Ltd. | 6,386,368 | 1,588,905 |
Pacific Textiles Holdings Ltd. | 1,072,946 | 687,418 |
Pou Sheng International Holdings Ltd. * | 3,298,312 | 714,311 |
Power Assets Holdings Ltd. | 82,417 | 457,911 |
PRADA S.p.A. * | 351,714 | 2,092,416 |
Road King Infrastructure Ltd. | 551,382 | 749,169 |
Sa Sa International Holdings Ltd. * | 2,800,930 | 686,029 |
Samsonite International S.A. * | 2,158,839 | 4,202,269 |
Shangri-La Asia Ltd. * | 945,659 | 967,925 |
Shui On Land Ltd. | 7,858,835 | 1,205,568 |
Shun Tak Holdings Ltd. | 2,088,000 | 707,902 |
SITC International Holdings Co., Ltd. | 670,297 | 1,762,723 |
SJM Holdings Ltd. | 1,694,943 | 2,359,747 |
SmarTone Telecommunications Holdings Ltd. | 1,241,921 | 786,072 |
Stella International Holdings Ltd. | 1,053,500 | 1,258,928 |
Sun Art Retail Group Ltd. | 1,254,600 | 1,083,594 |
Swire Properties Ltd. | 506,893 | 1,630,322 |
The Bank of East Asia Ltd. | 1,053,734 | 2,488,531 |
Tingyi Cayman Islands Holding Corp. | 1,342,188 | 2,695,674 |
Truly International Holdings Ltd. * | 6,734,186 | 1,328,199 |
Uni-President China Holdings Ltd. | 906,353 | 1,088,930 |
Value Partners Group Ltd. | 1,035,990 | 685,109 |
Vitasoy International Holdings Ltd. | 185,589 | 818,210 |
VSTECS Holdings Ltd. | 1,594,551 | 1,430,653 |
VTech Holdings Ltd. | 253,494 | 2,125,698 |
Wynn Macau Ltd. * | 906,187 | 1,710,195 |
Xinyi Glass Holdings Ltd. | 1,151,005 | 3,219,760 |
96,956,509 | ||
Ireland 0.5% | ||
AIB Group plc * | 1,214,034 | 2,745,306 |
Glanbia plc | 175,412 | 2,288,837 |
Irish Continental Group plc * | 120,144 | 629,989 |
Security | Number of Shares | Value ($) |
Kingspan Group plc * | 36,899 | 2,698,477 |
Total Produce plc | 973,018 | 2,468,393 |
10,831,002 | ||
Israel 1.1% | ||
Azrieli Group Ltd. | 11,491 | 699,304 |
Delek Group Ltd. * | 37,202 | 1,729,423 |
Elbit Systems Ltd. | 10,176 | 1,323,031 |
FIBI Holdings Ltd. | 20,122 | 591,748 |
First International Bank of Israel Ltd. | 28,413 | 745,684 |
Gazit-Globe Ltd. | 145,533 | 913,786 |
Harel Insurance Investments & Financial Services Ltd. | 96,954 | 880,948 |
Israel Discount Bank Ltd., A Shares | 649,847 | 2,414,833 |
Mizrahi Tefahot Bank Ltd. | 55,895 | 1,339,037 |
Nice Ltd. * | 8,545 | 1,986,705 |
Oil Refineries Ltd. * | 6,578,034 | 1,429,705 |
Partner Communications Co., Ltd. * | 101,566 | 512,628 |
Paz Oil Co., Ltd. | 24,599 | 2,293,788 |
Shikun & Binui Ltd. * | 112,459 | 658,587 |
Shufersal Ltd. | 97,563 | 783,697 |
The Israel Corp., Ltd. * | 14,099 | 3,206,930 |
The Phoenix Holdings Ltd. * | 102,425 | 797,707 |
Tower Semiconductor Ltd. * | 77,341 | 2,358,028 |
24,665,569 | ||
Italy 2.4% | ||
ACEA S.p.A. | 35,803 | 709,664 |
Amplifon S.p.A. * | 19,484 | 780,439 |
Anima Holding S.p.A. | 247,227 | 1,193,735 |
ASTM S.p.A. * | 60,475 | 1,864,476 |
Autogrill S.p.A. * | 240,892 | 1,564,312 |
Azimut Holding S.p.A. | 73,779 | 1,702,401 |
Banca Carige S.p.A. *(a) | 60,120,573 | 10,946 |
Banca Farmafactoring S.p.A. * | 89,352 | 589,998 |
Banca Generali S.p.A. * | 25,488 | 873,051 |
Banca IFIS S.p.A. * | 59,513 | 759,932 |
Banca Mediolanum S.p.A. * | 164,771 | 1,444,993 |
Banca Monte dei Paschi di Siena S.p.A. *(b) | 587,131 | 860,893 |
Banca Popolare di Sondrio Scarl * | 956,499 | 2,770,142 |
BPER Banca * | 1,379,018 | 3,037,204 |
Buzzi Unicem S.p.A. | 75,182 | 1,911,811 |
Cerved Group S.p.A. * | 122,675 | 1,003,605 |
Davide Campari-Milano N.V. | 127,549 | 1,451,892 |
De'Longhi S.p.A. | 46,242 | 1,718,656 |
DiaSorin S.p.A. | 3,432 | 676,520 |
Enav S.p.A. | 196,049 | 950,429 |
ERG S.p.A. | 39,035 | 1,123,870 |
Esprinet S.p.A. * | 90,056 | 1,156,499 |
Fincantieri S.p.A. *(b) | 615,256 | 512,677 |
FinecoBank Banca Fineco S.p.A. * | 143,436 | 2,536,675 |
Freni Brembo S.p.A. * | 131,745 | 1,722,253 |
Infrastrutture Wireless Italiane S.p.A. | 50,942 | 532,695 |
Interpump Group S.p.A. | 32,078 | 1,481,136 |
Iren S.p.A. | 697,924 | 1,740,026 |
Italgas S.p.A. | 336,131 | 1,991,835 |
Maire Tecnimont S.p.A. *(b) | 231,816 | 607,777 |
MARR S.p.A. * | 36,629 | 838,521 |
Mediaset S.p.A. * | 759,489 | 2,162,702 |
Moncler S.p.A. * | 44,245 | 2,755,045 |
OVS S.p.A. *(b) | 883,882 | 1,203,744 |
Piaggio & C S.p.A. | 186,366 | 710,303 |
Recordati Industria Chimica e Farmaceutica S.p.A. | 27,682 | 1,415,921 |
Reply S.p.A. | 5,232 | 610,293 |
Security | Number of Shares | Value ($) |
Salvatore Ferragamo S.p.A. * | 66,417 | 1,283,422 |
Societa Cattolica di Assicurazioni SC *(b) | 241,046 | 1,329,491 |
Tod's S.p.A. *(b) | 22,776 | 728,735 |
UnipolSai Assicurazioni S.p.A. | 593,446 | 1,731,661 |
Webuild S.p.A (b) | 365,027 | 688,973 |
54,739,353 | ||
Japan 30.3% | ||
ABC-Mart, Inc. | 19,687 | 1,119,797 |
Acom Co., Ltd. | 155,633 | 693,877 |
Adastria Co., Ltd. | 58,710 | 1,099,917 |
ADEKA Corp. | 140,152 | 2,353,406 |
Advantest Corp. | 40,377 | 3,316,114 |
Aeon Delight Co., Ltd. | 24,967 | 744,042 |
AEON Financial Service Co., Ltd. | 142,646 | 1,826,254 |
Aeon Mall Co., Ltd. | 108,994 | 1,833,276 |
Aica Kogyo Co., Ltd. | 41,346 | 1,430,073 |
Aida Engineering Ltd. | 82,001 | 688,858 |
Ain Holdings, Inc. | 22,046 | 1,421,588 |
Aisan Industry Co., Ltd. | 145,385 | 769,637 |
Alconix Corp. | 49,460 | 730,712 |
Alpen Co., Ltd. | 30,413 | 645,712 |
Amano Corp. | 58,219 | 1,304,927 |
Anritsu Corp. (b) | 47,487 | 1,013,121 |
AOKI Holdings, Inc. | 134,038 | 858,024 |
Aoyama Trading Co., Ltd. * | 306,253 | 2,351,370 |
Aozora Bank Ltd. | 121,364 | 2,563,066 |
Arata Corp. | 38,881 | 1,634,943 |
Arcs Co., Ltd. | 107,037 | 2,205,239 |
Asahi Diamond Industrial Co., Ltd. | 115,251 | 535,473 |
Asahi Holdings, Inc. | 29,636 | 1,108,499 |
Asahi Intecc Co., Ltd. | 15,731 | 451,081 |
Asanuma Corp. | 11,702 | 503,052 |
ASKUL Corp. | 15,766 | 521,636 |
Autobacs Seven Co., Ltd. | 104,603 | 1,392,219 |
Avex, Inc. | 70,188 | 976,993 |
Azbil Corp. | 75,798 | 3,219,316 |
Belluna Co., Ltd. | 77,358 | 751,507 |
Benesse Holdings, Inc. | 70,716 | 1,426,400 |
BML, Inc. | 19,280 | 637,901 |
Bunka Shutter Co., Ltd. | 98,462 | 920,482 |
Calbee, Inc. | 53,423 | 1,404,021 |
Canon Electronics, Inc. | 31,758 | 482,898 |
Canon Marketing Japan, Inc. | 71,492 | 1,562,839 |
Capcom Co., Ltd. | 20,227 | 1,230,251 |
Cawachi Ltd. | 29,249 | 785,446 |
Central Glass Co., Ltd. | 82,630 | 1,709,372 |
Chiyoda Corp. * | 169,646 | 710,176 |
Chudenko Corp. | 35,011 | 720,003 |
Chugoku Marine Paints Ltd. | 66,719 | 565,490 |
Citizen Watch Co., Ltd. | 810,156 | 2,912,425 |
CKD Corp. | 44,322 | 953,501 |
Cocokara fine, Inc. | 31,887 | 2,214,791 |
Colowide Co., Ltd. (b) | 32,139 | 609,356 |
Cosmos Pharmaceutical Corp. | 8,818 | 1,262,197 |
Create SD Holdings Co., Ltd. | 19,008 | 577,162 |
Credit Saison Co., Ltd. | 200,327 | 2,491,395 |
CyberAgent, Inc. | 34,221 | 2,062,125 |
Daido Metal Co., Ltd. | 122,951 | 626,642 |
Daifuku Co., Ltd. | 26,760 | 2,556,944 |
Daihen Corp. | 21,061 | 894,509 |
Daiho Corp. | 30,005 | 1,039,220 |
Daiichikosho Co., Ltd. | 42,747 | 1,697,201 |
Daiki Aluminium Industry Co., Ltd. | 86,524 | 632,647 |
Daikyonishikawa Corp. | 191,663 | 1,316,851 |
Daio Paper Corp. | 88,049 | 1,638,006 |
Daiseki Co., Ltd. | 22,875 | 716,051 |
Security | Number of Shares | Value ($) |
Daishi Hokuetsu Financial Group, Inc. | 34,832 | 768,305 |
Daiwabo Holdings Co., Ltd. | 32,130 | 2,394,520 |
DCM Holdings Co., Ltd. | 156,849 | 1,550,235 |
DeNA Co., Ltd. | 92,589 | 1,822,406 |
Descente Ltd. * | 39,173 | 658,889 |
Dexerials Corp. | 59,831 | 868,768 |
Disco Corp. | 8,117 | 2,544,657 |
DMG Mori Co., Ltd. | 86,076 | 1,291,867 |
Doshisha Co., Ltd. | 40,448 | 670,843 |
Doutor Nichires Holdings Co., Ltd. (b) | 45,126 | 684,472 |
Dowa Holdings Co., Ltd. | 83,786 | 3,299,064 |
DTS Corp. | 33,425 | 726,917 |
Duskin Co., Ltd. | 47,930 | 1,223,668 |
DyDo Group Holdings, Inc. | 14,881 | 706,757 |
Eagle Industry Co., Ltd. | 89,653 | 911,340 |
Earth Corp. | 9,269 | 509,821 |
Eizo Corp. | 19,906 | 687,573 |
Exedy Corp. | 110,911 | 1,688,546 |
Ezaki Glico Co., Ltd. | 47,929 | 1,950,180 |
Fancl Corp. | 21,322 | 759,499 |
FCC Co., Ltd. | 62,895 | 1,004,171 |
Foster Electric Co., Ltd. | 89,712 | 1,047,510 |
FP Corp. | 20,265 | 786,519 |
Fuji Co., Ltd. | 51,974 | 883,958 |
Fuji Corp. | 66,212 | 1,558,039 |
Fuji Media Holdings, Inc. | 93,544 | 1,130,887 |
Fuji Oil Co., Ltd. * | 402,161 | 796,471 |
Fuji Oil Holdings, Inc. | 41,851 | 1,161,568 |
Fuji Seal International, Inc. | 50,900 | 1,046,283 |
Fuji Soft, Inc. | 18,808 | 930,338 |
Fujimori Kogyo Co., Ltd. | 21,085 | 839,125 |
Fujitec Co., Ltd. | 70,728 | 1,617,835 |
Fujitsu General Ltd. | 45,008 | 1,216,661 |
Fukuoka Financial Group, Inc. | 127,895 | 2,298,845 |
Fukuyama Transporting Co., Ltd. | 33,925 | 1,326,240 |
Furukawa Co., Ltd. | 72,477 | 889,126 |
Futaba Corp. | 68,518 | 597,458 |
Futaba Industrial Co., Ltd. | 230,676 | 1,134,543 |
Fuyo General Lease Co., Ltd. | 9,740 | 644,518 |
G-Tekt Corp. | 83,497 | 1,090,931 |
Geo Holdings Corp. | 103,628 | 1,163,310 |
Glory Ltd. | 90,239 | 1,970,114 |
Gree, Inc. | 115,119 | 598,610 |
GS Yuasa Corp. | 144,267 | 4,245,138 |
GungHo Online Entertainment, Inc. | 61,932 | 1,266,659 |
Gunze Ltd. | 28,495 | 972,211 |
H.U. Group Holdings, Inc. | 84,972 | 2,627,959 |
Hamakyorex Co., Ltd. | 20,870 | 620,968 |
Hamamatsu Photonics K.K. | 34,556 | 2,033,660 |
Happinet Corp. | 54,429 | 760,698 |
Hazama Ando Corp. | 311,178 | 2,322,006 |
Heiwa Corp. | 68,200 | 1,029,337 |
Heiwa Real Estate Co., Ltd. | 16,655 | 540,107 |
Heiwado Co., Ltd. | 75,077 | 1,374,133 |
Hikari Tsushin, Inc. | 6,636 | 1,313,622 |
Hirogin Holdings, Inc. | 288,655 | 1,696,058 |
Hirose Electric Co., Ltd. | 17,451 | 2,545,415 |
HIS Co., Ltd. * | 47,668 | 1,130,627 |
Hisamitsu Pharmaceutical Co., Inc. | 40,710 | 2,537,210 |
Hitachi Capital Corp. | 30,049 | 811,441 |
Hitachi Transport System Ltd. | 45,995 | 1,441,931 |
Hitachi Zosen Corp. | 408,025 | 2,592,763 |
Hogy Medical Co., Ltd. | 14,430 | 412,421 |
Hokuetsu Corp. | 361,257 | 1,725,923 |
Hokuhoku Financial Group, Inc. | 160,629 | 1,450,395 |
Horiba Ltd. | 30,679 | 1,825,651 |
Hoshizaki Corp. | 23,386 | 2,050,171 |
Hosiden Corp. | 133,811 | 1,284,857 |
Security | Number of Shares | Value ($) |
House Foods Group, Inc. | 53,776 | 1,796,908 |
Hulic Co., Ltd. | 143,929 | 1,604,915 |
Ibiden Co., Ltd. | 80,700 | 3,279,810 |
Inaba Denki Sangyo Co., Ltd. | 77,945 | 1,848,030 |
Inabata & Co., Ltd. | 157,814 | 2,223,379 |
Internet Initiative Japan, Inc. | 38,468 | 794,346 |
Iriso Electronics Co., Ltd. | 14,001 | 634,737 |
Ishihara Sangyo Kaisha Ltd. | 100,764 | 771,761 |
Ito En Ltd. | 29,463 | 1,626,079 |
Itochu Enex Co., Ltd. | 150,261 | 1,444,221 |
Itochu Techno-Solutions Corp. | 44,567 | 1,367,881 |
Itoham Yonekyu Holdings, Inc. | 390,342 | 2,601,303 |
Iwatani Corp. | 70,569 | 4,027,215 |
Izumi Co., Ltd. | 62,566 | 2,310,843 |
Jaccs Co., Ltd. | 40,111 | 767,282 |
JAFCO Group Co., Ltd. | 19,098 | 1,163,375 |
Japan Airport Terminal Co., Ltd. | 20,857 | 1,004,284 |
Japan Aviation Electronics Industry Ltd. | 82,161 | 1,303,286 |
Japan Display, Inc. *(b) | 3,174,899 | 1,400,603 |
Japan Exchange Group, Inc. | 126,411 | 2,721,266 |
Japan Petroleum Exploration Co., Ltd. | 62,359 | 1,304,072 |
Joyful Honda Co., Ltd. | 94,010 | 1,185,934 |
Juki Corp. | 106,965 | 868,451 |
JVC Kenwood Corp. | 673,667 | 1,169,780 |
Kadokawa Corp. | 36,405 | 1,336,057 |
Kaga Electronics Co., Ltd. | 42,556 | 921,900 |
Kagome Co., Ltd. | 48,779 | 1,453,664 |
Kakaku.com, Inc. | 26,805 | 850,393 |
Kaken Pharmaceutical Co., Ltd. | 26,681 | 1,060,579 |
Kameda Seika Co., Ltd. | 11,695 | 514,277 |
Kamigumi Co., Ltd. | 119,891 | 2,241,626 |
Kanamoto Co., Ltd. | 52,439 | 1,164,545 |
Kandenko Co., Ltd. | 188,828 | 1,549,049 |
Kanematsu Corp. | 185,308 | 2,356,789 |
Kansai Paint Co., Ltd. | 95,337 | 2,489,464 |
Kasai Kogyo Co., Ltd. | 226,178 | 851,299 |
Kato Sangyo Co., Ltd. | 54,417 | 1,825,988 |
Kato Works Co., Ltd. | 43,942 | 413,683 |
Kawasaki Kisen Kaisha Ltd. * | 214,498 | 4,036,686 |
Keihan Holdings Co., Ltd. | 48,572 | 2,179,221 |
Keikyu Corp. | 139,752 | 2,208,958 |
Keisei Electric Railway Co., Ltd. | 63,031 | 2,271,814 |
KH Neochem Co., Ltd. | 30,720 | 704,132 |
Kinden Corp. | 164,086 | 2,678,295 |
Kintetsu World Express, Inc. | 56,151 | 1,460,432 |
Kissei Pharmaceutical Co., Ltd. | 23,767 | 473,377 |
Kitz Corp. | 141,169 | 745,993 |
Kobayashi Pharmaceutical Co., Ltd. | 15,571 | 1,470,286 |
Kohnan Shoji Co., Ltd. | 44,400 | 1,208,560 |
Kokuyo Co., Ltd. | 127,003 | 1,811,944 |
Komeri Co., Ltd. | 47,112 | 1,269,114 |
Komori Corp. | 96,713 | 639,065 |
Konami Holdings Corp. | 55,904 | 3,583,859 |
Konoike Transport Co., Ltd. | 75,316 | 730,256 |
Kose Corp. | 11,833 | 1,895,901 |
Kumagai Gumi Co., Ltd. | 59,374 | 1,554,290 |
Kumiai Chemical Industry Co., Ltd. | 49,838 | 395,748 |
Kura Sushi, Inc. | 9,291 | 625,272 |
Kureha Corp. | 26,966 | 1,776,810 |
Kurita Water Industries Ltd. | 87,226 | 3,528,666 |
Kusuri no Aoki Holdings Co., Ltd. | 6,916 | 542,037 |
KYB Corp. * | 67,740 | 1,882,656 |
Kyoei Steel Ltd. | 51,069 | 675,392 |
Kyokuto Kaihatsu Kogyo Co., Ltd. | 53,276 | 760,086 |
KYORIN Holdings, Inc. | 46,123 | 818,214 |
Kyoritsu Maintenance Co., Ltd. | 16,580 | 604,593 |
Kyowa Exeo Corp. | 99,548 | 2,543,361 |
Kyowa Kirin Co., Ltd. | 102,097 | 2,844,227 |
Security | Number of Shares | Value ($) |
Kyudenko Corp. | 51,349 | 1,686,892 |
Kyushu Financial Group, Inc. | 240,333 | 974,506 |
Lawson, Inc. | 43,327 | 2,023,201 |
Leopalace21 Corp. * | 1,197,255 | 1,505,840 |
Life Corp. | 27,732 | 818,633 |
Lintec Corp. | 63,853 | 1,392,252 |
Lion Corp. | 114,407 | 2,197,078 |
M3, Inc. | 17,810 | 1,408,384 |
Mabuchi Motor Co., Ltd. | 47,653 | 2,106,679 |
Macnica Fuji Electronics Holdings, Inc. | 88,667 | 1,683,624 |
Maeda Corp. | 199,889 | 1,763,616 |
Maeda Road Construction Co., Ltd. | 74,624 | 1,515,734 |
Makino Milling Machine Co., Ltd. | 36,158 | 1,357,537 |
Mandom Corp. | 35,376 | 601,664 |
Marudai Food Co., Ltd. | 72,851 | 1,138,511 |
Maruha Nichiro Corp. | 89,411 | 2,067,850 |
Marui Group Co., Ltd. | 109,753 | 2,081,949 |
Maruichi Steel Tube Ltd. | 54,975 | 1,255,436 |
Max Co., Ltd. | 38,334 | 574,254 |
Maxell Holdings Ltd. * | 93,829 | 1,221,521 |
MCJ Co., Ltd. | 64,080 | 545,528 |
Mebuki Financial Group, Inc. | 721,259 | 1,536,754 |
Megmilk Snow Brand Co., Ltd. | 87,133 | 1,746,913 |
Meidensha Corp. | 64,939 | 1,391,550 |
Meitec Corp. | 16,481 | 858,547 |
Ministop Co., Ltd. | 33,824 | 432,721 |
Mirait Holdings Corp. | 95,203 | 1,495,868 |
Mitsubishi Logisnext Co., Ltd. | 72,840 | 774,617 |
Mitsubishi Logistics Corp. | 55,848 | 1,742,957 |
Mitsubishi Pencil Co., Ltd. | 40,955 | 517,800 |
Mitsubishi UFJ Lease & Finance Co., Ltd. | 265,267 | 1,421,696 |
Mitsui E&S Holdings Co., Ltd. * | 337,268 | 1,449,866 |
Mitsui Matsushima Holdings Co., Ltd. | 59,222 | 555,866 |
Mitsui Sugar Co., Ltd. | 25,869 | 456,483 |
Mitsui-Soko Holdings Co., Ltd. | 43,413 | 883,826 |
Miura Co., Ltd. | 23,332 | 1,206,677 |
Mizuho Leasing Co., Ltd. | 22,082 | 685,010 |
Mizuno Corp. | 49,022 | 997,097 |
Mochida Pharmaceutical Co., Ltd. | 19,928 | 740,707 |
Modec, Inc. | 36,316 | 589,019 |
Morinaga & Co., Ltd. | 30,914 | 1,114,227 |
Morinaga Milk Industry Co., Ltd. | 56,427 | 2,568,715 |
Morita Holdings Corp. | 38,508 | 632,884 |
MOS Food Services, Inc. | 18,779 | 541,126 |
Musashi Seimitsu Industry Co., Ltd. | 93,543 | 1,540,904 |
Nabtesco Corp. | 71,875 | 3,049,324 |
Nachi-Fujikoshi Corp. | 35,236 | 1,489,940 |
Nankai Electric Railway Co., Ltd. | 83,981 | 2,025,823 |
NEC Networks & System Integration Corp. | 48,065 | 798,978 |
NET One Systems Co., Ltd. | 37,754 | 1,171,175 |
Nexon Co., Ltd. | 84,724 | 2,671,979 |
Nichi-iko Pharmaceutical Co., Ltd. | 63,430 | 569,167 |
Nichias Corp. | 61,166 | 1,427,819 |
Nichicon Corp. | 88,235 | 891,957 |
Nichiha Corp. | 35,448 | 995,166 |
Nifco, Inc. | 84,829 | 2,910,175 |
Nihon Kohden Corp. | 45,412 | 1,231,418 |
Nihon Parkerizing Co., Ltd. | 96,237 | 971,945 |
Nihon Unisys Ltd. | 40,718 | 1,177,130 |
Nikkiso Co., Ltd. | 73,582 | 757,645 |
Nippn Corp. | 86,338 | 1,286,885 |
Nippo Corp. | 61,313 | 1,600,445 |
Nippon Chemi-Con Corp. * | 49,798 | 801,610 |
Nippon Denko Co., Ltd. | 296,672 | 776,905 |
Nippon Densetsu Kogyo Co., Ltd. | 42,480 | 749,999 |
Nippon Gas Co., Ltd. | 24,584 | 1,136,439 |
Nippon Holdings Co., Ltd. | 73,985 | 1,415,257 |
Security | Number of Shares | Value ($) |
Nippon Kayaku Co., Ltd. | 214,253 | 2,075,362 |
Nippon Koei Co., Ltd. | 19,745 | 524,482 |
Nippon Paint Holdings Co., Ltd. | 31,253 | 2,323,294 |
Nippon Sanso Holdings Corp. | 82,076 | 1,539,984 |
Nippon Sheet Glass Co., Ltd. * | 503,982 | 2,549,712 |
Nippon Shinyaku Co., Ltd. | 11,976 | 812,713 |
Nippon Signal Company Ltd. | 62,699 | 543,187 |
Nippon Soda Co., Ltd. | 41,863 | 1,314,358 |
Nippon Suisan Kaisha Ltd. | 515,549 | 2,453,382 |
Nippon Television Holdings, Inc. | 39,432 | 521,491 |
Nippon Yakin Kogyo Co., Ltd. | 33,512 | 642,623 |
Nipro Corp. | 146,433 | 1,818,386 |
Nishi-Nippon Financial Holdings, Inc. | 184,199 | 1,203,327 |
Nishi-Nippon Railroad Co., Ltd. | 75,696 | 2,121,534 |
Nishimatsu Construction Co., Ltd. | 97,203 | 2,418,670 |
Nishimatsuya Chain Co., Ltd. | 63,723 | 840,349 |
Nishio Rent All Co., Ltd. | 34,430 | 845,400 |
Nissan Chemical Corp. | 50,004 | 2,717,507 |
Nissha Co., Ltd. | 82,324 | 1,021,516 |
Nisshinbo Holdings, Inc. | 331,512 | 2,464,403 |
Nissin Electric Co., Ltd. | 51,837 | 603,322 |
Nissin Foods Holdings Co., Ltd. | 31,372 | 2,370,420 |
Nitta Corp. | 22,578 | 489,960 |
Nitto Boseki Co., Ltd. | 13,909 | 524,166 |
Nitto Kogyo Corp. | 35,798 | 663,946 |
NOF Corp. | 43,980 | 2,315,823 |
Nojima Corp. | 47,200 | 1,234,714 |
Nomura Co., Ltd. | 63,873 | 488,010 |
Nomura Research Institute Ltd. | 86,103 | 2,675,060 |
Noritake Co., Ltd. | 26,129 | 896,391 |
Noritz Corp. | 80,424 | 1,205,530 |
North Pacific Bank Ltd. | 272,541 | 616,504 |
NS Solutions Corp. | 27,044 | 793,247 |
NS United Kaiun Kaisha Ltd. | 34,019 | 495,565 |
NSD Co., Ltd. | 34,554 | 590,279 |
Obic Co., Ltd. | 6,626 | 1,118,223 |
Oiles Corp. | 40,702 | 627,683 |
Okamoto Industries, Inc. | 17,123 | 645,287 |
Okamura Corp. | 157,204 | 1,628,996 |
Okasan Securities Group, Inc. | 226,756 | 836,447 |
Oki Electric Industry Co., Ltd. | 202,772 | 1,985,087 |
OKUMA Corp. | 36,852 | 2,023,505 |
Okumura Corp. | 52,184 | 1,315,621 |
Onward Holdings Co., Ltd. (b) | 429,304 | 1,015,437 |
Open House Co., Ltd. | 26,305 | 1,007,362 |
Oracle Corp. Japan | 7,941 | 804,982 |
Orient Corp. | 594,029 | 825,195 |
Osaka Soda Co., Ltd. | 26,406 | 634,002 |
OSG Corp. | 83,833 | 1,502,132 |
Outsourcing, Inc. | 66,590 | 1,018,788 |
Pacific Industrial Co., Ltd. | 80,793 | 874,360 |
PALTAC Corp. | 47,539 | 2,574,620 |
Paramount Bed Holdings Co., Ltd. | 17,496 | 693,830 |
Park24 Co., Ltd. * | 83,288 | 1,790,997 |
Penta-Ocean Construction Co., Ltd. | 359,337 | 2,671,249 |
Persol Holdings Co., Ltd. | 168,309 | 3,328,581 |
Pigeon Corp. | 30,853 | 1,114,924 |
Pilot Corp. | 34,706 | 1,042,418 |
Piolax, Inc. | 38,358 | 550,492 |
Plenus Co., Ltd. * | 41,799 | 735,622 |
Pola Orbis Holdings, Inc. | 53,835 | 1,229,403 |
Press Kogyo Co., Ltd. | 408,329 | 1,222,611 |
Prima Meat Packers Ltd. | 46,108 | 1,345,935 |
Qol Holdings Co., Ltd. | 42,082 | 552,983 |
Raito Kogyo Co., Ltd. | 52,477 | 869,855 |
Raiznext Corp. | 56,139 | 600,699 |
Relia, Inc. | 45,005 | 563,513 |
Relo Group, Inc. | 35,345 | 832,369 |
Security | Number of Shares | Value ($) |
Rengo Co., Ltd. | 309,120 | 2,503,947 |
Resorttrust, Inc. | 55,288 | 949,144 |
Restar Holdings Corp. | 42,554 | 794,842 |
Rinnai Corp. | 26,716 | 2,703,196 |
Rohto Pharmaceutical Co., Ltd. | 44,208 | 1,181,757 |
Round One Corp. | 83,986 | 914,434 |
Royal Holdings Co., Ltd. * | 34,940 | 626,060 |
Ryobi Ltd. * | 108,669 | 1,274,979 |
Ryosan Co., Ltd. | 76,752 | 1,552,474 |
Ryoyo Electro Corp. | 26,998 | 684,960 |
S Foods, Inc. | 35,580 | 1,092,046 |
Saizeriya Co., Ltd. | 36,847 | 768,482 |
Sakai Chemical Industry Co., Ltd. | 35,821 | 645,208 |
Sakata INX Corp. | 75,200 | 755,953 |
Sakata Seed Corp. | 15,017 | 521,521 |
San-A Co., Ltd. | 23,463 | 912,842 |
Sanden Holdings Corp. * | 184,079 | 789,601 |
Sangetsu Corp. | 74,270 | 1,070,760 |
Sanken Electric Co., Ltd. | 34,549 | 1,751,123 |
Sanki Engineering Co., Ltd. | 62,598 | 761,470 |
Sankyo Co., Ltd. | 44,035 | 1,221,771 |
Sankyo Tateyama, Inc. | 120,370 | 906,108 |
Sankyu, Inc. | 65,176 | 2,716,176 |
Sanoh Industrial Co., Ltd. | 65,959 | 586,908 |
Sanrio Co., Ltd. | 38,434 | 628,061 |
Sanwa Holdings Corp. | 234,122 | 2,889,717 |
Sanyo Chemical Industries Ltd. | 15,551 | 735,658 |
Sanyo Denki Co., Ltd. | 11,224 | 600,496 |
Sanyo Special Steel Co., Ltd. * | 56,710 | 899,567 |
Sapporo Holdings Ltd. | 100,652 | 2,064,245 |
Sato Holdings Corp. | 28,121 | 658,550 |
Sawai Pharmaceutical Co., Ltd. | 28,836 | 1,293,750 |
SCREEN Holdings Co., Ltd. | 34,421 | 2,681,568 |
SCSK Corp. | 24,917 | 1,466,394 |
Sega Sammy Holdings, Inc. | 198,722 | 3,336,903 |
Seibu Holdings, Inc. | 215,431 | 2,588,246 |
Seiko Holdings Corp. | 63,267 | 1,051,085 |
Seiren Co., Ltd. | 57,797 | 985,706 |
Sekisui Jushi Corp. | 22,704 | 412,781 |
Senko Group Holdings Co., Ltd. | 186,080 | 1,751,814 |
Senshu Ikeda Holdings, Inc. | 440,644 | 661,752 |
Seven Bank Ltd. | 447,537 | 1,008,155 |
Sharp Corp. | 116,918 | 2,209,085 |
Shibaura Machine Co., Ltd. | 29,689 | 786,393 |
Shibuya Corp. | 17,529 | 533,899 |
Shima Seiki Manufacturing Ltd. | 40,544 | 874,508 |
Shimachu Co., Ltd. * | 12,210 | 629,181 |
Shindengen Electric Manufacturing Co., Ltd. | 23,295 | 672,350 |
Shinko Electric Industries Co., Ltd. | 57,351 | 1,536,322 |
Shinmaywa Industries Ltd. | 154,003 | 1,374,665 |
Shinsei Bank Ltd. | 118,467 | 1,690,162 |
Ship Healthcare Holdings, Inc. | 30,927 | 1,715,586 |
Shizuoka Gas Co., Ltd. | 115,225 | 1,002,568 |
SHO-BOND Holdings Co., Ltd. | 13,308 | 580,835 |
Shochiku Co., Ltd. * | 4,054 | 605,018 |
Shoei Foods Corp. | 13,588 | 486,561 |
Showa Sangyo Co., Ltd. | 35,822 | 1,054,083 |
Siix Corp. | 77,196 | 1,310,028 |
Sinfonia Technology Co., Ltd. | 43,414 | 528,922 |
SKY Perfect JSAT Holdings, Inc. | 214,172 | 904,612 |
Skylark Holdings Co., Ltd. *(b) | 154,450 | 2,389,090 |
Sohgo Security Services Co., Ltd. | 44,814 | 2,019,028 |
Sotetsu Holdings, Inc. | 56,432 | 1,307,248 |
Square Enix Holdings Co., Ltd. | 34,088 | 1,932,528 |
St Marc Holdings Co., Ltd. | 30,985 | 484,522 |
Starts Corp., Inc. | 32,460 | 847,909 |
Sugi Holdings Co., Ltd. | 31,777 | 2,213,116 |
Security | Number of Shares | Value ($) |
SUMCO Corp. | 150,076 | 3,422,984 |
Sumitomo Bakelite Co., Ltd. | 42,227 | 1,678,537 |
Sumitomo Dainippon Pharma Co., Ltd. | 129,359 | 2,043,469 |
Sumitomo Mitsui Construction Co., Ltd. | 364,774 | 1,581,806 |
Sumitomo Osaka Cement Co., Ltd. | 63,455 | 2,096,505 |
Sumitomo Riko Co., Ltd. | 157,732 | 909,024 |
Sumitomo Seika Chemicals Co., Ltd. | 18,730 | 682,114 |
Sundrug Co., Ltd. | 70,446 | 2,644,866 |
Suruga Bank Ltd. | 402,274 | 1,332,858 |
Sushiro Global Holdings Ltd. | 36,905 | 1,380,387 |
SWCC Showa Holdings Co., Ltd. | 39,127 | 600,089 |
T-Gaia Corp. | 35,998 | 615,284 |
Tachi-S Co., Ltd. | 138,152 | 1,368,034 |
Tadano Ltd. | 196,076 | 1,849,600 |
Taihei Dengyo Kaisha Ltd. | 23,251 | 579,856 |
Taikisha Ltd. | 40,555 | 1,069,641 |
Taisho Pharmaceutical Holdings Co., Ltd. | 29,979 | 1,837,459 |
Taiyo Holdings Co., Ltd. | 9,359 | 485,783 |
Taiyo Yuden Co., Ltd. | 81,479 | 4,022,710 |
Takamatsu Construction Group Co., Ltd. | 26,296 | 518,565 |
Takara Holdings, Inc. | 169,161 | 2,265,748 |
Takara Standard Co., Ltd. | 75,169 | 1,051,265 |
Takasago Thermal Engineering Co., Ltd. | 82,016 | 1,213,227 |
Takeuchi Manufacturing Co., Ltd. | 39,034 | 987,391 |
Takuma Co., Ltd. | 56,866 | 1,115,543 |
Tamron Co., Ltd. | 23,792 | 427,872 |
Tamura Corp. | 124,902 | 619,000 |
TBS Holdings, Inc. | 40,327 | 735,455 |
TechnoPro Holdings, Inc. | 11,604 | 843,016 |
Tekken Corp. | 25,047 | 447,856 |
The 77 Bank Ltd. | 54,471 | 716,804 |
The Awa Bank Ltd. | 24,452 | 513,184 |
The Bank of Kyoto Ltd. | 28,189 | 1,690,705 |
The Chiba Bank Ltd. | 420,716 | 2,681,304 |
The Chugoku Bank Ltd. | 120,851 | 960,773 |
The Gunma Bank Ltd. | 429,379 | 1,378,333 |
The Hachijuni Bank Ltd. | 372,145 | 1,226,046 |
The Hokkoku Bank Ltd. | 20,966 | 517,951 |
The Hyakugo Bank Ltd. | 155,084 | 439,604 |
The Hyakujushi Bank Ltd. | 30,561 | 447,199 |
The Iyo Bank Ltd. | 188,651 | 1,090,755 |
The Japan Steel Works Ltd. | 78,263 | 1,998,079 |
The Japan Wool Textile Co., Ltd. | 73,115 | 620,386 |
The Juroku Bank Ltd. | 34,518 | 638,586 |
The Keiyo Bank Ltd. | 148,449 | 599,147 |
The Kiyo Bank Ltd. | 40,486 | 547,211 |
The Musashino Bank Ltd. | 41,492 | 613,384 |
The Nanto Bank Ltd. | 27,566 | 468,834 |
The Nisshin Oillio Group Ltd. | 44,974 | 1,329,717 |
The Ogaki Kyoritsu Bank Ltd. | 29,115 | 549,835 |
The Okinawa Electric Power Co., Inc. | 76,932 | 1,028,985 |
The Pack Corp. | 15,488 | 375,061 |
The San-In Godo Bank Ltd. | 141,748 | 645,277 |
The Shiga Bank Ltd. | 30,791 | 602,294 |
The Shizuoka Bank Ltd. | 306,855 | 2,240,785 |
The Sumitomo Warehouse Co., Ltd. | 72,760 | 999,818 |
THK Co., Ltd. | 95,201 | 3,069,415 |
Toa Corp. | 38,123 | 810,838 |
Toagosei Co., Ltd. | 159,949 | 1,740,012 |
Tobishima Corp. | 46,090 | 475,003 |
Toda Corp. | 300,523 | 2,053,508 |
Toei Co., Ltd. | 3,871 | 771,003 |
Toho Co., Ltd. | 56,856 | 2,134,635 |
Toho Zinc Co., Ltd. * | 52,923 | 1,133,071 |
Tokai Carbon Co., Ltd. | 141,898 | 1,919,232 |
TOKAI Holdings Corp. | 125,609 | 1,081,129 |
Tokai Rika Co., Ltd. | 145,998 | 2,372,091 |
Tokai Tokyo Financial Holdings, Inc. | 302,621 | 1,025,401 |
Security | Number of Shares | Value ($) |
Token Corp. | 13,758 | 1,079,565 |
Tokuyama Corp. | 96,357 | 2,402,142 |
Tokyo Century Corp. | 24,090 | 1,569,219 |
Tokyo Dome Corp. * | 15,288 | 185,970 |
Tokyo Ohka Kogyo Co., Ltd. | 21,618 | 1,270,215 |
Tokyo Seimitsu Co., Ltd. | 29,775 | 1,293,958 |
Tokyo Steel Manufacturing Co., Ltd. | 135,138 | 890,434 |
Tokyo Tatemono Co., Ltd. | 157,374 | 2,231,951 |
Tokyu Construction Co., Ltd. | 176,485 | 879,609 |
TOMONY Holdings, Inc. | 136,994 | 389,611 |
Tomy Co., Ltd. | 123,675 | 1,145,741 |
Topcon Corp. | 115,218 | 1,448,066 |
Toppan Forms Co., Ltd. | 85,583 | 817,754 |
Topre Corp. | 119,218 | 1,698,638 |
Topy Industries Ltd. * | 90,603 | 1,180,373 |
Toshiba TEC Corp. | 26,522 | 970,864 |
Totetsu Kogyo Co., Ltd. | 35,707 | 859,998 |
Towa Pharmaceutical Co., Ltd. | 25,372 | 499,153 |
Toyo Construction Co., Ltd. | 142,247 | 727,657 |
Toyo Ink SC Holdings Co., Ltd. | 82,877 | 1,471,001 |
Toyo Tire Corp. | 139,421 | 2,430,118 |
Toyobo Co., Ltd. | 166,376 | 2,095,707 |
Toyota Boshoku Corp. | 175,205 | 2,716,714 |
TPR Co., Ltd. | 90,130 | 1,244,427 |
Trancom Co., Ltd. | 8,398 | 641,634 |
Transcosmos, Inc. | 32,746 | 820,955 |
Trend Micro, Inc. | 40,244 | 1,934,009 |
Trusco Nakayama Corp. | 43,359 | 1,033,307 |
TSI Holdings Co., Ltd. * | 285,052 | 700,991 |
Tsubaki Nakashima Co., Ltd. | 61,126 | 747,006 |
Tsubakimoto Chain Co. | 73,135 | 1,979,738 |
Tsukishima Kikai Co., Ltd. | 37,401 | 433,548 |
Tsumura & Co. | 46,220 | 1,451,154 |
TV Asahi Holdings Corp. | 37,782 | 724,504 |
UACJ Corp. | 84,936 | 1,959,571 |
Uchida Yoko Co., Ltd. | 9,777 | 412,499 |
Ulvac, Inc. | 48,851 | 2,194,031 |
Unipres Corp. | 229,595 | 1,971,836 |
United Arrows Ltd. | 61,883 | 1,169,818 |
United Super Markets Holdings, Inc. (b) | 166,788 | 1,665,688 |
Ushio, Inc. | 116,811 | 1,456,026 |
USS Co., Ltd. | 72,168 | 1,371,016 |
Valor Holdings Co., Ltd. | 91,772 | 1,938,979 |
Vital KSK Holdings, Inc. | 102,701 | 755,750 |
VT Holdings Co., Ltd. | 175,745 | 691,169 |
Wacoal Holdings Corp. | 83,637 | 1,783,586 |
Wacom Co., Ltd. | 97,533 | 704,903 |
Warabeya Nichiyo Holdings Co., Ltd. | 60,529 | 891,970 |
Welcia Holdings Co., Ltd. | 43,885 | 1,402,557 |
World Co., Ltd. | 42,351 | 533,462 |
Xebio Holdings Co., Ltd. | 93,927 | 794,333 |
YAMABIKO Corp. | 62,197 | 648,591 |
Yamaguchi Financial Group, Inc. | 225,240 | 1,386,873 |
Yamato Kogyo Co., Ltd. | 42,799 | 1,066,159 |
Yamazen Corp. | 160,502 | 1,428,157 |
Yaoko Co., Ltd. | 16,933 | 1,037,850 |
Yellow Hat Ltd. | 45,161 | 706,621 |
Yodogawa Steel Works Ltd. | 64,564 | 1,329,580 |
Yokogawa Bridge Holdings Corp. | 32,204 | 585,198 |
Yokohama Reito Co., Ltd. | 73,802 | 607,512 |
Yondoshi Holdings, Inc. | 31,689 | 548,475 |
Yoshinoya Holdings Co., Ltd. *(b) | 50,857 | 1,001,960 |
Yuasa Trading Co., Ltd. | 44,152 | 1,218,801 |
Zenkoku Hosho Co., Ltd. | 14,573 | 668,191 |
Zensho Holdings Co., Ltd. | 57,962 | 1,543,441 |
Zeon Corp. | 182,774 | 2,676,248 |
ZERIA Pharmaceutical Co., Ltd. | 26,529 | 497,263 |
Security | Number of Shares | Value ($) |
Zojirushi Corp. | 32,590 | 525,527 |
ZOZO, Inc. | 23,535 | 735,607 |
695,553,370 | ||
Luxembourg 0.0% | ||
Espirito Santo Financial Group S.A. *(a) | 8,470 | — |
Netherlands 1.8% | ||
Accell Group N.V. * | 22,126 | 821,810 |
Adyen N.V. * | 376 | 874,441 |
AMG Advanced Metallurgical Group N.V. | 28,780 | 1,056,728 |
Arcadis N.V. * | 81,888 | 2,806,933 |
ASM International N.V. | 13,559 | 3,679,989 |
BE Semiconductor Industries N.V. | 27,446 | 2,078,124 |
Brunel International N.V. * | 65,518 | 717,322 |
Corbion N.V. | 34,877 | 1,993,917 |
Eurocommercial Properties N.V. * | 56,114 | 1,198,757 |
Flow Traders | 14,983 | 614,335 |
ForFarmers N.V. | 99,620 | 660,216 |
Fugro N.V. CVA * | 166,483 | 1,775,247 |
GrandVision N.V. * | 23,436 | 716,855 |
IMCD N.V. | 15,826 | 1,958,419 |
Intertrust N.V. * | 54,505 | 893,135 |
Koninklijke BAM Groep N.V. * | 795,574 | 2,147,645 |
Koninklijke Vopak N.V. | 35,509 | 1,702,914 |
OCI N.V. * | 59,594 | 1,287,566 |
PostNL N.V. * | 759,804 | 3,249,087 |
Prosus N.V. * | 5,597 | 666,184 |
SBM Offshore N.V. | 143,543 | 2,558,604 |
Sligro Food Group N.V. * | 88,530 | 2,127,663 |
TKH Group N.V. | 39,371 | 1,974,622 |
TomTom N.V. * | 60,886 | 574,969 |
Van Lanschot Kempen N.V. * | 30,432 | 792,328 |
Wereldhave N.V. *(b) | 80,922 | 1,363,337 |
40,291,147 | ||
New Zealand 0.9% | ||
Air New Zealand Ltd. * | 1,764,854 | 2,040,328 |
Auckland International Airport Ltd. * | 263,365 | 1,445,769 |
Chorus Ltd. | 273,235 | 1,567,499 |
EBOS Group Ltd. | 97,742 | 2,021,890 |
Fisher & Paykel Healthcare Corp., Ltd. | 69,726 | 1,482,909 |
Genesis Energy Ltd. | 502,372 | 1,276,635 |
Infratil Ltd. | 275,440 | 1,474,005 |
Kiwi Property Group Ltd. | 766,700 | 666,174 |
Mercury NZ Ltd. | 383,583 | 1,687,364 |
Meridian Energy Ltd. | 559,306 | 2,318,026 |
Ryman Healthcare Ltd. | 51,184 | 545,213 |
SKY Network Television Ltd. * | 11,343,919 | 1,369,195 |
SKYCITY Entertainment Group Ltd. * | 729,025 | 1,611,425 |
Z Energy Ltd. * | 813,548 | 1,614,878 |
21,121,310 | ||
Norway 1.6% | ||
Aker A.S.A., A Shares | 32,481 | 2,621,260 |
Aker BP A.S.A. | 59,873 | 1,566,348 |
Aker Solutions A.S.A. * | 910,828 | 1,390,779 |
Austevoll Seafood A.S.A. | 120,071 | 1,387,258 |
Bakkafrost P/F * | 14,507 | 1,037,658 |
Bonheur A.S.A. | 35,442 | 936,258 |
BW Energy Ltd. * | 41,978 | 122,639 |
BW LPG Ltd. | 169,114 | 1,011,306 |
BW Offshore Ltd. | 139,803 | 572,069 |
DNO A.S.A. * | 1,007,421 | 952,441 |
Security | Number of Shares | Value ($) |
Elkem A.S.A. | 369,069 | 1,306,227 |
Entra A.S.A. | 56,975 | 1,193,485 |
Europris A.S.A. | 139,120 | 821,441 |
Frontline Ltd. | 64,504 | 438,915 |
Gjensidige Forsikring A.S.A. | 81,302 | 1,878,669 |
Kongsberg Gruppen A.S.A. | 44,819 | 921,152 |
Leroy Seafood Group A.S.A. | 199,681 | 1,616,090 |
Norwegian Finans Holding A.S.A. * | 67,566 | 600,186 |
PGS A.S.A. * | 2,832,669 | 1,847,879 |
Salmar A.S.A. | 25,930 | 1,717,426 |
Schibsted A.S.A., B Shares * | 24,216 | 837,381 |
Schibsted A.S.A., Class A * | 19,699 | 802,188 |
SpareBank 1 Nord Norge | 117,381 | 1,048,142 |
SpareBank 1 SMN | 111,054 | 1,289,526 |
SpareBank 1 SR-Bank A.S.A. * | 116,717 | 1,353,928 |
Storebrand A.S.A. * | 275,381 | 2,369,453 |
TGS Nopec Geophysical Co. A.S.A. | 116,093 | 1,832,657 |
Tomra Systems A.S.A. | 21,023 | 905,170 |
Veidekke A.S.A. | 122,819 | 1,611,536 |
XXL A.S.A. * | 355,198 | 803,444 |
36,792,911 | ||
Poland 1.0% | ||
Alior Bank S.A. * | 221,391 | 1,294,538 |
Asseco Poland S.A. | 107,574 | 1,923,440 |
Bank Handlowy w Warszawie S.A. * | 47,535 | 497,709 |
Bank Millennium S.A. * | 642,917 | 712,511 |
CCC S.A. * | 32,697 | 834,630 |
Cyfrowy Polsat S.A. | 238,244 | 1,829,301 |
Enea S.A. * | 981,233 | 1,717,579 |
Eurocash S.A. * | 177,460 | 612,210 |
Grupa Azoty S.A. * | 157,485 | 1,270,518 |
Jastrzebska Spolka Weglowa S.A. * | 236,136 | 2,236,597 |
LPP S.A. * | 413 | 867,624 |
mBank S.A. * | 10,359 | 616,289 |
Orange Polska S.A. * | 1,136,950 | 1,927,577 |
Santander Bank Polska S.A. * | 23,778 | 1,343,130 |
Tauron Polska Energia S.A. * | 5,933,468 | 4,077,985 |
21,761,638 | ||
Portugal 0.3% | ||
Banco Espirito Santo S.A. *(a) | 45,383 | — |
CTT-Correios de Portugal S.A. * | 309,412 | 938,911 |
EDP Renovaveis S.A. | 39,493 | 867,652 |
Mota-Engil, SGPS, S.A. *(b) | 358,816 | 637,617 |
NOS, SGPS S.A. | 328,315 | 1,105,463 |
REN - Redes Energeticas Nacionais, SGPS, S.A. | 335,742 | 925,079 |
Sonae, SGPS, S.A. | 2,050,963 | 1,692,832 |
The Navigator Co. S.A. * | 470,021 | 1,604,278 |
7,771,832 | ||
Republic of Korea 7.4% | ||
AK Holdings, Inc. | 31,381 | 872,858 |
AMOREPACIFIC Group | 34,317 | 1,976,244 |
Asiana Airlines, Inc. * | 85,903 | 1,131,611 |
BGF retail Co., Ltd. | 8,210 | 1,161,896 |
Celltrion, Inc. * | 5,481 | 1,451,355 |
Cheil Worldwide, Inc. | 67,629 | 1,170,791 |
CJ ENM Co., Ltd. | 10,558 | 1,299,663 |
CJ Logistics Corp. * | 7,804 | 1,139,169 |
Com2uSCorp | 6,252 | 770,162 |
Daesang Corp. * | 41,951 | 931,622 |
Daewoo Engineering & Construction Co., Ltd. * | 508,084 | 2,654,609 |
Security | Number of Shares | Value ($) |
Daewoo Shipbuilding & Marine Engineering Co., Ltd. * | 87,509 | 1,982,291 |
Daou Technology, Inc. | 27,967 | 677,083 |
DB HiTek Co., Ltd. | 23,821 | 1,195,821 |
DGB Financial Group, Inc. | 340,939 | 2,145,473 |
Dongkuk Steel Mill Co., Ltd. | 385,935 | 3,088,167 |
Doosan Bobcat, Inc. * | 36,156 | 1,041,074 |
Doosan Co., Ltd. | 31,828 | 1,321,563 |
Doosan Infracore Co., Ltd. * | 359,782 | 2,517,033 |
Fila Holdings Corp. | 22,462 | 799,715 |
Green Cross Corp. | 3,204 | 1,079,407 |
Green Cross Holdings Corp. | 22,662 | 748,340 |
GS Engineering & Construction Corp. | 121,636 | 3,935,442 |
GS Home Shopping, Inc. | 6,005 | 726,907 |
GS Retail Co., Ltd. | 43,096 | 1,388,585 |
Handsome Co., Ltd. | 20,697 | 684,373 |
Hanjin Transportation Co., Ltd. * | 20,757 | 781,505 |
Hanon Systems | 135,687 | 1,865,923 |
Hansol Paper Co., Ltd. | 52,875 | 616,522 |
Hanssem Co., Ltd. * | 8,633 | 764,560 |
Hanwha Aerospace Co., Ltd. * | 47,270 | 1,552,526 |
Hanwha Life Insurance Co., Ltd. | 1,637,614 | 4,671,609 |
Harim Holdings Co., Ltd. | 124,499 | 961,862 |
HDC Holdings Co., Ltd. * | 72,526 | 706,862 |
Hite Jinro Co., Ltd. * | 22,720 | 692,621 |
HMM Co., Ltd. * | 260,820 | 4,410,841 |
Hotel Shilla Co., Ltd. | 20,408 | 1,482,237 |
Huchems Fine Chemical Corp. | 31,984 | 651,921 |
Hyosung Corp. * | 12,512 | 892,044 |
Hyundai Construction Equipment Co., Ltd. * | 75,083 | 2,502,767 |
Hyundai Corp. | 60,843 | 939,587 |
Hyundai Department Store Co., Ltd. | 28,124 | 2,052,664 |
Hyundai Electric & Energy System Co., Ltd. * | 54,773 | 860,475 |
Hyundai Elevator Co., Ltd. * | 17,916 | 687,298 |
Hyundai Greenfood Co., Ltd. | 129,722 | 1,046,089 |
Hyundai Home Shopping Network Corp. | 10,320 | 730,254 |
Hyundai Mipo Dockyard Co., Ltd. * | 21,716 | 1,043,760 |
Hyundai Rotem Co., Ltd. * | 37,569 | 655,409 |
Hyundai Wia Corp. | 75,469 | 5,179,048 |
iMarketKorea, Inc. | 94,867 | 727,018 |
IS Dongseo Co., Ltd. * | 23,012 | 1,099,906 |
JB Financial Group Co., Ltd. | 250,631 | 1,300,560 |
Kakao Corp. | 3,695 | 1,604,949 |
Kangwon Land, Inc. * | 90,409 | 1,947,395 |
KCC Corp. | 10,646 | 1,890,411 |
KEPCO Plant Service & Engineering Co., Ltd. * | 30,776 | 735,501 |
Kolon Corp. | 36,163 | 730,663 |
Kolon Industries, Inc. | 61,777 | 3,024,241 |
Korea Aerospace Industries Ltd. * | 47,965 | 1,413,121 |
Korea Electric Terminal Co., Ltd. | 16,254 | 1,150,150 |
Korea Investment Holdings Co., Ltd. * | 23,055 | 1,791,457 |
Korea PetroChemical Ind Co., Ltd. * | 9,737 | 3,150,333 |
Korean Reinsurance Co. | 188,708 | 1,320,200 |
Kumho Petrochemical Co., Ltd. * | 25,272 | 4,746,232 |
Kumho Tire Co., Inc. * | 241,361 | 853,948 |
LF Corp. | 76,574 | 1,053,020 |
LG Hausys Ltd. | 23,569 | 1,499,941 |
LG HelloVision Co., Ltd. | 147,611 | 593,860 |
LG Innotek Co., Ltd. | 18,663 | 3,305,685 |
LG International Corp. | 164,461 | 3,996,249 |
Lotte Chilsung Beverage Co., Ltd. * | 6,051 | 616,680 |
LOTTE Fine Chemical Co., Ltd. | 24,651 | 1,171,663 |
LOTTE Himart Co., Ltd. | 65,632 | 2,187,733 |
LS Corp. | 65,058 | 4,047,667 |
LS Electric Co., Ltd. | 23,841 | 1,220,167 |
Security | Number of Shares | Value ($) |
Mando Corp. * | 74,939 | 4,168,836 |
Meritz Financial Group, Inc. | 82,293 | 897,276 |
Meritz Fire & Marine Insurance Co., Ltd. | 144,130 | 2,065,414 |
Meritz Securities Co., Ltd. | 247,399 | 827,966 |
Mirae Asset Daewoo Co., Ltd. | 165,220 | 1,373,525 |
NCSoft Corp. | 2,823 | 2,351,872 |
Nexen Tire Corp. * | 123,267 | 923,817 |
NH Investment & Securities Co., Ltd. * | 88,449 | 854,180 |
NongShim Co., Ltd. | 4,084 | 999,644 |
OCI Co., Ltd. * | 43,284 | 4,815,754 |
Orion Corp. | 11,273 | 1,289,346 |
Ottogi Corp. | 1,236 | 616,075 |
Pan Ocean Co., Ltd. | 240,693 | 1,225,424 |
Partron Co., Ltd. | 62,314 | 621,199 |
Poongsan Corp. | 71,530 | 2,330,216 |
S&T Motiv Co., Ltd. | 11,686 | 652,169 |
S-1 Corp. | 16,268 | 1,201,819 |
Samsung Card Co., Ltd. | 43,974 | 1,289,669 |
Samsung Engineering Co., Ltd. * | 100,566 | 1,154,696 |
Samsung Securities Co., Ltd. | 34,548 | 1,123,925 |
Seoul Semiconductor Co., Ltd. | 45,811 | 807,350 |
Seoyon E-Hwa Co., Ltd. * | 148,477 | 938,306 |
SFA Engineering Corp. | 17,961 | 678,633 |
Shinsegae, Inc. | 8,418 | 2,000,539 |
SK Chemicals Co., Ltd. | 5,871 | 1,970,064 |
SK Gas Ltd. | 14,135 | 1,152,440 |
SKC Co., Ltd. | 16,507 | 1,726,366 |
Sungwoo Hitech Co., Ltd. | 362,657 | 2,111,061 |
Taekwang Industrial Co., Ltd. * | 2,152 | 1,804,347 |
Taeyoung Engineering & Construction Co., Ltd. | 22,664 | 239,046 |
TY Holdings Co., Ltd. * | 22,022 | 480,231 |
WONIK IPS Co., Ltd. | 18,921 | 837,846 |
Youngone Corp. | 43,015 | 1,608,037 |
Yuhan Corp. | 19,697 | 1,086,973 |
169,042,449 | ||
Singapore 1.5% | ||
Ascendas Real Estate Investment Trust | 737,909 | 1,631,535 |
CapitaLand Integrated Commercial Trust | 1,120,498 | 1,769,607 |
City Developments Ltd. | 362,019 | 2,003,805 |
Genting Singapore Ltd. | 3,996,136 | 2,569,524 |
Golden Agri-Resources Ltd. | 23,147,395 | 3,342,333 |
Keppel Infrastructure Trust | 1,864,023 | 764,001 |
Mapletree Commercial Trust | 414,074 | 635,264 |
Mapletree Industrial Trust | 303,229 | 606,595 |
Mapletree Logistics Trust | 460,430 | 640,592 |
Mapletree North Asia Commercial Trust | 852,231 | 615,283 |
SATS Ltd. * | 507,223 | 1,678,410 |
Sembcorp Industries Ltd. | 2,074,549 | 2,699,083 |
Sembcorp Marine Ltd. * | 11,500,637 | 1,323,304 |
Singapore Exchange Ltd. | 232,595 | 1,747,480 |
Singapore Post Ltd. | 1,648,905 | 861,840 |
Singapore Press Holdings Ltd. | 2,273,773 | 2,393,985 |
Singapore Technologies Engineering Ltd. | 890,433 | 2,517,882 |
StarHub Ltd. | 946,875 | 904,363 |
Suntec Real Estate Investment Trust | 579,596 | 632,033 |
UOL Group Ltd. | 235,432 | 1,308,448 |
Venture Corp., Ltd. | 203,154 | 2,933,411 |
33,578,778 | ||
Spain 1.4% | ||
Abengoa S.A., B Shares *(a) | 192,522,094 | 724,418 |
Almirall S.A. | 42,990 | 576,603 |
Applus Services S.A. * | 159,554 | 1,651,976 |
Cellnex Telecom S.A. | 15,198 | 831,052 |
Security | Number of Shares | Value ($) |
Cia de Distribucion Integral Logista Holdings S.A. | 49,003 | 952,867 |
Cie Automotive S.A. | 39,630 | 1,094,822 |
Construcciones y Auxiliar de Ferrocarriles S.A. | 15,010 | 668,642 |
Distribuidora Internacional de Alimentacion S.A. * | 4,955,712 | 727,844 |
Ebro Foods S.A. | 73,737 | 1,596,715 |
Ence Energia y Celulosa S.A. * | 170,372 | 879,096 |
Ercros S.A. | 191,092 | 560,153 |
Euskaltel S.A. | 70,030 | 702,120 |
Faes Farma S.A. | 135,455 | 603,404 |
Gestamp Automocion S.A. * | 400,927 | 2,190,877 |
Indra Sistemas S.A. * | 65,980 | 582,630 |
Inmobiliaria Colonial Socimi S.A. | 57,675 | 565,648 |
Liberbank S.A. * | 1,926,080 | 603,172 |
Mediaset Espana Comunicacion S.A. * | 399,531 | 2,410,205 |
Melia Hotels International S.A. * | 166,424 | 1,414,038 |
Merlin Properties Socimi S.A. | 97,434 | 1,015,308 |
Obrascon Huarte Lain S.A. *(b) | 875,907 | 623,021 |
Prosegur Cash S.A. | 496,039 | 475,653 |
Prosegur Cia de Seguridad S.A. | 507,065 | 1,571,924 |
Sacyr S.A. | 404,730 | 1,027,719 |
Siemens Gamesa Renewable Energy S.A. | 83,317 | 3,114,809 |
Tecnicas Reunidas S.A. *(b) | 50,549 | 741,799 |
Unicaja Banco S.A. * | 2,239,666 | 1,973,636 |
Viscofan S.A. | 21,994 | 1,555,060 |
Zardoya Otis S.A. | 95,912 | 621,672 |
32,056,883 | ||
Sweden 3.6% | ||
AAK AB | 79,407 | 1,710,539 |
AddTech AB, B shares | 51,459 | 753,498 |
AF Poyry AB * | 44,698 | 1,222,795 |
Annehem Fastigheter AB, B Shares * | 51,468 | 166,656 |
Arjo AB, B Shares | 125,329 | 915,338 |
Attendo AB * | 114,619 | 631,216 |
Axfood AB | 84,628 | 2,027,018 |
Beijer Ref AB | 13,937 | 592,979 |
Betsson AB * | 122,617 | 1,003,550 |
Bilia AB, A Shares * | 103,660 | 1,396,925 |
BillerudKorsnas AB | 171,004 | 3,148,268 |
Bonava AB, B Shares * | 147,837 | 1,583,069 |
Bravida Holding AB | 114,186 | 1,457,214 |
Castellum AB | 76,033 | 1,783,134 |
Clas Ohlson AB, B Shares * | 59,980 | 541,956 |
Cloetta AB, B Shares | 208,842 | 576,795 |
Concentric AB | 28,595 | 631,806 |
Coor Service Management Holding AB * | 84,545 | 589,795 |
Dometic Group AB * | 173,534 | 2,404,657 |
Elekta AB, B Shares | 110,490 | 1,497,516 |
Fabege AB | 54,044 | 755,642 |
Fastighets AB Balder, B Shares * | 11,358 | 547,341 |
Getinge AB, B Shares | 111,657 | 2,840,573 |
Granges AB * | 107,862 | 1,377,792 |
Hexpol AB | 195,231 | 2,105,681 |
Holmen AB, B Shares | 48,126 | 2,127,831 |
Industrivarden AB, A Shares * | 61,258 | 2,187,760 |
Industrivarden AB, C Shares * | 44,496 | 1,477,356 |
Indutrade AB * | 81,774 | 1,876,886 |
Intrum AB | 49,955 | 1,397,534 |
Inwido AB * | 62,590 | 955,231 |
JM AB | 74,579 | 2,623,551 |
Kinnevik AB, B Shares * | 68,118 | 3,182,046 |
Kungsleden AB | 79,135 | 815,363 |
L E Lundbergfortagen AB, B Shares * | 31,508 | 1,576,131 |
Lifco AB, B Shares | 9,385 | 897,151 |
Security | Number of Shares | Value ($) |
Lindab International AB | 56,323 | 1,236,409 |
Loomis AB | 82,761 | 2,175,406 |
Lundin Energy AB | 51,981 | 1,689,981 |
Mekonomen AB * | 58,785 | 780,292 |
Modern Times Group MTG AB, B Shares * | 47,497 | 698,876 |
NCC AB, B Shares | 98,028 | 1,634,948 |
Nibe Industrier AB, B Shares | 52,673 | 1,663,569 |
Nobia AB * | 210,164 | 1,541,184 |
Nolato AB, B Shares * | 7,063 | 634,401 |
Nordic Entertainment Group AB, B Shreas * | 20,551 | 938,974 |
Pandox AB * | 46,380 | 828,204 |
Peab AB * | 238,385 | 2,840,721 |
Ratos AB, B Shares | 462,066 | 2,337,806 |
Resurs Holding AB * | 108,173 | 599,323 |
Saab AB, B Shares * | 67,316 | 1,790,264 |
SAS AB *(b) | 3,544,705 | 765,478 |
Scandic Hotels Group AB *(b) | 234,172 | 1,098,365 |
Svenska Cellulosa AB SCA, B Shares * | 212,620 | 3,676,510 |
Sweco AB, B Shares | 57,909 | 836,913 |
Swedish Orphan Biovitrum AB * | 27,736 | 454,667 |
Thule Group AB * | 37,531 | 1,577,177 |
Wallenstam AB, B Shares | 34,782 | 490,255 |
Wihlborgs Fastigheter AB | 35,134 | 683,432 |
82,351,748 | ||
Switzerland 3.3% | ||
Allreal Holding AG | 6,219 | 1,265,370 |
ALSO Holding AG * | 3,308 | 900,720 |
ams AG * | 54,376 | 1,284,170 |
Arbonia AG * | 52,854 | 890,922 |
Aryzta AG * | 2,924,443 | 2,519,679 |
Autoneum Holding AG * | 8,109 | 1,459,136 |
Banque Cantonale Vaudoise | 9,156 | 964,854 |
Barry Callebaut AG | 1,300 | 2,826,025 |
Belimo Holding AG | 98 | 717,707 |
BKW AG | 11,090 | 1,237,258 |
Bobst Group S.A. | 8,374 | 566,561 |
Bucher Industries AG | 4,981 | 2,415,397 |
Burckhardt Compression Holding AG | 2,074 | 762,887 |
Cembra Money Bank AG | 11,180 | 1,170,115 |
Conzzeta AG | 856 | 1,193,275 |
Daetwyler Holding AG | 3,747 | 1,138,214 |
dormakaba Holding AG | 1,624 | 992,016 |
Dufry AG * | 63,155 | 4,336,369 |
Emmi AG | 1,184 | 1,177,068 |
EMS-Chemie Holding AG | 2,095 | 1,862,891 |
Flughafen Zuerich AG * | 10,662 | 1,891,436 |
Forbo Holding AG | 516 | 894,864 |
Galenica AG | 34,717 | 2,241,477 |
GAM Holding AG * | 612,224 | 1,623,039 |
Helvetia Holding AG | 23,709 | 2,611,054 |
Huber & Suhner AG | 12,972 | 1,004,460 |
Implenia AG | 28,168 | 909,167 |
Ina Invest Holding AG * | 8,494 | 182,021 |
Inficon Holding AG | 676 | 746,714 |
Komax Holding AG *(b) | 2,840 | 738,469 |
Landis & Gyr Group AG * | 20,297 | 1,414,714 |
Logitech International S.A. | 38,288 | 4,103,283 |
Mobimo Holding AG * | 2,546 | 797,295 |
OC Oerlikon Corp. AG | 180,902 | 1,962,286 |
Partners Group Holding AG | 2,626 | 3,163,209 |
PSP Swiss Property AG | 8,204 | 982,341 |
Rieter Holding AG | 6,134 | 738,546 |
Schweiter Technologies AG | 688 | 1,165,793 |
SFS Group AG | 11,047 | 1,387,434 |
Security | Number of Shares | Value ($) |
Siegfried Holding AG * | 1,332 | 1,043,913 |
SIG Combibloc Group AG * | 90,098 | 2,004,389 |
St. Galler Kantonalbank AG | 977 | 457,041 |
Stadler Rail AG (b) | 16,090 | 806,899 |
Straumann Holding AG | 1,155 | 1,402,126 |
Sulzer AG | 18,491 | 2,079,293 |
Tecan Group AG | 1,933 | 816,075 |
Temenos AG | 6,519 | 883,914 |
u-blox Holding AG * | 7,248 | 572,442 |
Valiant Holding AG | 7,821 | 784,433 |
Valora Holding AG * | 6,689 | 1,533,158 |
VAT Group AG | 5,515 | 1,540,033 |
Vetropack Holding AG * | 7,731 | 487,618 |
Vifor Pharma AG | 15,933 | 1,990,525 |
Vontobel Holding AG | 11,092 | 846,633 |
Zur Rose Group AG * | 2,464 | 1,167,631 |
76,654,359 | ||
United Kingdom 10.8% | ||
888 Holdings plc | 230,673 | 957,837 |
AA plc * | 3,787,079 | 1,847,857 |
AG Barr plc * | 69,473 | 486,623 |
Airtel Africa plc | 971,347 | 1,082,359 |
Ascential plc * | 131,269 | 656,294 |
Ashmore Group plc | 140,699 | 811,238 |
Auto Trader Group plc * | 120,033 | 923,336 |
Avast plc | 73,336 | 473,694 |
B&M European Value Retail S.A. | 426,307 | 3,256,654 |
Bank of Georgia Group plc * | 39,546 | 551,787 |
Beazley plc * | 320,875 | 1,551,313 |
Biffa plc * | 227,421 | 810,792 |
Big Yellow Group plc | 34,888 | 553,618 |
Bodycote plc | 205,486 | 2,077,108 |
Brewin Dolphin Holdings plc | 192,426 | 789,606 |
Britvic plc | 165,875 | 1,877,311 |
C&C Group plc * | 304,720 | 1,097,025 |
Capita plc * | 3,769,234 | 2,384,044 |
Card Factory plc * | 1,807,906 | 1,166,503 |
Centamin plc | 863,638 | 1,220,131 |
Cineworld Group plc *(b) | 1,759,868 | 2,415,200 |
Clarkson plc | 15,320 | 544,040 |
Close Brothers Group plc | 130,637 | 2,840,109 |
Coats Group plc * | 1,114,497 | 969,187 |
Computacenter plc | 53,908 | 1,572,194 |
ConvaTec Group plc | 595,454 | 1,568,439 |
Costain Group plc *(b) | 831,636 | 715,067 |
Countryside Properties plc * | 250,990 | 1,633,834 |
Cranswick plc | 38,685 | 1,839,990 |
Crest Nicholson Holdings plc * | 514,658 | 2,311,175 |
Daily Mail & General Trust plc N.V., Class A | 169,628 | 2,134,413 |
Dechra Pharmaceuticals plc | 12,564 | 602,505 |
Derwent London plc | 23,177 | 1,072,565 |
DFS Furniture plc * | 310,266 | 939,141 |
Dignity plc * | 96,902 | 692,296 |
Diploma plc | 32,718 | 1,060,324 |
Domino's Pizza Group plc | 140,890 | 603,148 |
Dunelm Group plc * | 46,575 | 818,515 |
Electrocomponents plc | 220,614 | 2,991,874 |
Elementis plc * | 994,545 | 1,753,388 |
Entain plc * | 128,120 | 2,531,032 |
Equiniti Group plc * | 332,821 | 660,751 |
Essentra plc * | 362,988 | 1,486,957 |
Ferrexpo plc | 443,594 | 2,078,874 |
Forterra plc * | 193,285 | 699,901 |
Frasers Group plc * | 253,642 | 1,663,863 |
Fresnillo plc | 87,530 | 1,113,619 |
Security | Number of Shares | Value ($) |
Games Workshop Group plc | 6,311 | 843,077 |
Genus plc | 14,036 | 988,055 |
Grafton Group plc | 277,535 | 3,839,477 |
Grainger plc | 181,545 | 682,263 |
Great Portland Estates plc | 97,796 | 927,567 |
Greencore Group plc * | 773,295 | 1,642,258 |
Greggs plc * | 70,741 | 2,063,118 |
Halfords Group plc * | 661,622 | 2,677,916 |
Halma plc | 70,431 | 2,232,307 |
Hammerson plc | 3,777,680 | 1,379,548 |
Hargreaves Lansdown plc | 51,808 | 1,094,098 |
Hikma Pharmaceuticals plc | 49,251 | 1,539,662 |
Hill & Smith Holdings plc | 47,149 | 838,490 |
Hiscox Ltd. * | 204,007 | 2,692,499 |
HomeServe plc | 81,789 | 1,190,376 |
Howden Joinery Group plc * | 329,921 | 3,211,312 |
Hunting plc | 324,213 | 1,143,178 |
Ibstock plc * | 380,707 | 1,135,857 |
IG Group Holdings plc | 235,175 | 2,561,339 |
Indivior plc * | 1,309,486 | 2,352,570 |
Intermediate Capital Group plc | 109,640 | 2,653,411 |
Intu Properties plc *(a)(b) | 11,806,310 | 87,946 |
IWG plc * | 479,127 | 2,411,524 |
J.D. Wetherspoon plc * | 74,204 | 1,282,284 |
JD Sports Fashion plc * | 126,152 | 1,464,603 |
John Laing Group plc | 232,077 | 978,593 |
Jupiter Fund Management plc | 563,457 | 2,327,072 |
Just Group plc * | 1,776,762 | 2,246,862 |
KAZ Minerals plc | 127,850 | 1,491,824 |
Keller Group plc | 170,857 | 1,875,171 |
Kier Group plc *(b) | 1,667,057 | 2,016,067 |
Lancashire Holdings Ltd. | 161,410 | 1,387,855 |
Man Group plc | 1,461,474 | 3,062,889 |
Marshalls plc * | 80,758 | 770,031 |
Marston's plc * | 1,575,165 | 2,106,442 |
Mediclinic International plc * | 383,393 | 1,529,807 |
Melrose Industries plc * | 1,501,276 | 3,482,133 |
Mitchells & Butlers plc * | 364,873 | 1,550,793 |
Moneysupermarket.com Group plc | 277,952 | 1,126,954 |
Morgan Advanced Materials plc | 342,118 | 1,482,778 |
Morgan Sindall Group plc | 61,219 | 1,412,241 |
National Express Group plc * | 836,468 | 3,496,705 |
Ocado Group plc * | 26,479 | 814,447 |
OSB Group plc * | 161,495 | 1,001,588 |
Pagegroup plc * | 366,310 | 2,449,045 |
Paragon Banking Group plc | 186,716 | 1,172,105 |
PayPoint plc | 59,874 | 488,866 |
Petra Diamonds Ltd. * | 22,638,263 | 538,060 |
Petrofac Ltd. *(b) | 768,007 | 1,399,098 |
Petropavlovsk plc * | 2,073,047 | 794,142 |
Pets at Home Group plc | 393,903 | 2,172,024 |
Phoenix Group Holdings plc | 252,621 | 2,507,646 |
Playtech plc * | 505,271 | 3,342,778 |
Plus500 Ltd. | 90,547 | 1,730,538 |
Polymetal International plc | 112,353 | 2,232,904 |
Polypipe Group plc * | 105,306 | 811,229 |
Premier Oil plc *(b) | 4,877,194 | 1,944,042 |
Provident Financial plc * | 725,822 | 2,847,451 |
PZ Cussons plc | 188,353 | 645,174 |
QinetiQ Group plc | 424,083 | 1,771,617 |
Quilter plc | 576,800 | 1,177,380 |
Rank Group plc * | 251,607 | 623,340 |
Rathbone Brothers plc | 28,198 | 607,913 |
Redde Northgate plc | 562,487 | 2,162,637 |
Redrow plc | 234,479 | 1,786,648 |
Renishaw plc * | 11,131 | 894,830 |
Rhi Magnesita N.V. | 19,254 | 1,056,841 |
Rightmove plc * | 102,446 | 809,249 |
Security | Number of Shares | Value ($) |
Rotork plc | 403,404 | 2,012,350 |
Safestore Holdings plc | 48,990 | 547,259 |
Saga plc * | 579,667 | 3,061,816 |
Savills plc * | 109,986 | 1,776,061 |
Schroders plc | 53,203 | 2,605,642 |
Segro plc | 135,529 | 1,723,918 |
Senior plc * | 1,657,992 | 2,371,355 |
Serco Group plc * | 597,317 | 1,085,642 |
SIG plc * | 4,161,869 | 1,946,941 |
Signature Aviation plc * | 765,288 | 4,273,379 |
Softcat plc | 28,628 | 585,964 |
Spectris plc | 79,001 | 3,351,094 |
Speedy Hire plc * | 641,690 | 574,174 |
Spirax-Sarco Engineering plc | 15,337 | 2,296,510 |
Spire Healthcare Group plc * | 675,358 | 1,384,224 |
Spirent Communications plc | 185,236 | 609,895 |
SSP Group plc | 448,843 | 2,161,206 |
ST Modwen Properties plc | 144,878 | 800,088 |
St. James's Place plc | 183,234 | 3,007,549 |
Stagecoach Group plc * | 1,744,286 | 2,267,980 |
SThree plc * | 195,113 | 911,111 |
Superdry plc * | 427,792 | 1,590,936 |
Synthomer plc | 260,919 | 1,677,309 |
TalkTalk Telecom Group plc | 912,316 | 1,233,418 |
Ted Baker plc * | 314,042 | 493,945 |
Telecom Plus plc | 40,850 | 672,784 |
The Go-Ahead Group plc * | 141,234 | 2,318,173 |
The Restaurant Group plc * | 1,110,936 | 1,691,435 |
The Unite Group plc * | 45,830 | 622,168 |
TI Fluid Systems plc | 393,132 | 1,458,740 |
TP ICAP Group plc | 316,459 | 1,061,860 |
Tullow Oil plc *(b) | 1,747,706 | 1,073,172 |
Tyman plc * | 256,404 | 1,209,865 |
UDG Healthcare plc | 129,501 | 1,396,843 |
Ultra Electronics Holdings plc | 41,277 | 1,103,404 |
Vesuvius plc | 318,986 | 2,323,528 |
Victrex plc | 51,227 | 1,515,490 |
Vistry Group plc * | 194,004 | 2,283,817 |
WH Smith plc * | 112,843 | 3,013,328 |
William Hill plc * | 1,072,806 | 4,058,705 |
Wizz Air Holdings plc * | 12,580 | 933,929 |
Workspace Group plc | 48,696 | 520,827 |
248,555,909 | ||
Total Common Stock | ||
(Cost $1,935,532,086) | 2,275,963,578 | |
Preferred Stock 0.3% of net assets | ||
Germany 0.3% | ||
Draegerwerk AG & Co. KGaA | 18,155 | 1,394,913 |
Jungheinrich AG | 53,547 | 2,320,334 |
Sartorius AG | 2,131 | 1,100,343 |
Schaeffler AG | 188,879 | 1,623,170 |
Sixt SE | 15,946 | 1,203,896 |
Total Preferred Stock | ||
(Cost $6,066,027) | 7,642,656 | |
Rights 0.0% of net assets | ||
United Kingdom 0.0% | ||
Mitchells & Butlers plc *(a) | 194,457 | 255,558 |
Total Rights | ||
(Cost $—) | 255,558 | |
Security | Number of Shares | Value ($) |
Other Investment Companies 1.6% of net assets | ||
United States 1.6% | ||
Money Market Fund 0.1% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (c) | 2,232,257 | 2,232,257 |
Securities Lending Collateral 1.5% | ||
Wells Fargo Government Money Market Fund, Select Class 0.03% (c) | 33,296,592 | 33,296,592 |
Total Other Investment Companies | ||
(Cost $35,528,849) | 35,528,849 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
Long | ||||||
MSCI EAFE Index, expires 03/19/21 | 73 | 7,898,600 | (202,115) |
* | Non-income producing security. |
(a) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $30,840,773. |
(c) | The rate shown is the 7-day yield. |
CVA — | Dutch Certificate |
REIT — | Real Estate Investment Trust |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $1,701,940,636 | $— | $— | $1,701,940,636 | |
Australia | 132,869,668 | — | 1,072,788 | 133,942,456 | |
Hong Kong | 96,956,509 | — | — * | 96,956,509 | |
Italy | 54,728,407 | — | 10,946 | 54,739,353 | |
Luxembourg | — | — | — * | — | |
Portugal | 7,771,832 | — | — * | 7,771,832 | |
Spain | 31,332,465 | — | 724,418 | 32,056,883 | |
United Kingdom | 248,467,963 | — | 87,946 | 248,555,909 | |
Preferred Stock1 | 7,642,656 | — | — | 7,642,656 | |
Rights 1 | |||||
United Kingdom | — | — | 255,558 | 255,558 | |
Other Investment Companies1 | 35,528,849 | — | — | 35,528,849 | |
Liabilities | |||||
Futures Contracts2 | (202,115) | — | — | (202,115) | |
Total | $2,317,036,870 | $— | $2,151,656 | $2,319,188,526 |
* | Level 3 amount shown includes securities determined to have no value at February 28, 2021. |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments in unaffiliated issuers, at value (cost $1,943,830,370) including securities on loan of $30,840,773 | $2,286,094,049 | |
Collateral invested for securities on loan, at value (cost $33,296,592) | 33,296,592 | |
Deposit with broker for futures contracts | 1,293,600 | |
Foreign currency, at value (cost $2,989,918) | 2,978,225 | |
Receivables: | ||
Investments sold | 9,671 | |
Dividends | 3,945,027 | |
Foreign tax reclaims | 1,216,670 | |
Income from securities on loan | 210,232 | |
Other assets | + | 645 |
Total assets | 2,329,044,711 | |
Liabilities | ||
Collateral held for securities on loan | 33,296,592 | |
Payables: | ||
Investments bought | 2,047,312 | |
Management fees | 684,041 | |
Variation margin on futures contracts | + | 101,409 |
Total liabilities | 36,129,354 | |
Net Assets | ||
Total assets | 2,329,044,711 | |
Total liabilities | – | 36,129,354 |
Net assets | $2,292,915,357 | |
Net Assets by Source | ||
Capital received from investors | 2,124,175,830 | |
Total distributable earnings | 168,739,527 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$2,292,915,357 | 63,500,000 | $36.11 | ||
Investment Income | ||
Dividends received from unaffiliated issuers (net of foreign withholding tax of $4,786,283) | $38,629,693 | |
Securities on loan, net | + | 2,384,712 |
Total investment income | 41,014,405 | |
Expenses | ||
Management fees | 7,350,837 | |
Professional fees | + | 9,705* |
Total expenses | 7,360,542 | |
Expense reduction by CSIM | - | 9,705* |
Net expenses | – | 7,350,837 |
Net investment income | 33,663,568 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on unaffiliated issuers | (89,628,657) | |
Net realized gains on in-kind redemptions on unaffiliated issuers | 74,321,628 | |
Net realized gains on futures contracts | 1,604,897 | |
Net realized gains on foreign currency transactions | + | 136,682 |
Net realized losses | (13,565,450) | |
Net change in unrealized appreciation (depreciation) on unaffiliated issuers | 486,819,222 | |
Net change in unrealized appreciation (depreciation) on futures contracts | 205,433 | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | 92,425 |
Net change in unrealized appreciation (depreciation) | + | 487,117,080 |
Net realized and unrealized gains | 473,551,630 | |
Increase in net assets resulting from operations | $507,215,198 |
* | Professional fees associated with the filing of tax claims in the European Union deemed to be non-routine expenses of the fund. See financial notes 2 (d) and 4 for additional information. |
Operations | ||||
3/1/20-2/28/21 | 3/1/19-2/29/20 | |||
Net investment income | $33,663,568 | $50,482,401 | ||
Net realized losses | (13,565,450) | (10,362,944) | ||
Net change in unrealized appreciation (depreciation) | + | 487,117,080 | (164,889,280) | |
Increase (decrease) in net assets resulting from operations | 507,215,198 | (124,769,823) | ||
Distributions to Shareholders | ||||
Total distributions | ($38,178,680) | ($57,727,940) |
Transactions in Fund Shares | ||||||||
3/1/20-2/28/21 | 3/1/19-2/29/20 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 5,400,000 | $162,294,485 | 8,500,000 | $269,184,367 | ||||
Shares redeemed | + | (8,500,000) | (238,718,494) | (900,000) | (28,952,009) | |||
Net transactions in fund shares | (3,100,000) | ($76,424,009) | 7,600,000 | $240,232,358 | ||||
Shares Outstanding and Net Assets | ||||||||
3/1/20-2/28/21 | 3/1/19-2/29/20 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 66,600,000 | $1,900,302,848 | 59,000,000 | $1,842,568,253 | ||||
Total increase (decrease) | + | (3,100,000) | 392,612,509 | 7,600,000 | 57,734,595 | |||
End of period | 63,500,000 | $2,292,915,357 | 66,600,000 | $1,900,302,848 |
3/1/20– 2/28/21 | 3/1/19– 2/29/20 | 3/1/18– 2/28/19 | 3/1/17– 2/28/18 | 3/1/16– 2/28/17 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $25.54 | $28.08 | $31.22 | $26.06 | $17.78 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.79 | 1.02 | 0.85 | 0.71 | 0.49 | |
Net realized and unrealized gains (losses) | 4.02 | (2.53) | (3.20) | 5.06 | 8.18 | |
Total from investment operations | 4.81 | (1.51) | (2.35) | 5.77 | 8.67 | |
Less distributions: | ||||||
Distributions from net investment income | (0.71) | (1.03) | (0.79) | (0.61) | (0.39) | |
Net asset value at end of period | $29.64 | $25.54 | $28.08 | $31.22 | $26.06 | |
Total return | 19.12% | (5.74%) | (7.36%) | 22.32% | 49.03% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.39% | 0.39% | 0.39% | 0.39% | 0.46% | |
Net investment income (loss) | 3.11% | 3.61% | 2.99% | 2.48% | 2.14% | |
Portfolio turnover rate2 | 25% | 32% | 33% | 14% | 14% | |
Net assets, end of period (x 1,000) | $3,805,524 | $2,574,297 | $2,341,576 | $2,200,763 | $1,011,273 | |
Security | Number of Shares | Value ($) |
Common Stock 95.5% of net assets | ||
Brazil 5.6% | ||
Ambev S.A. | 4,983,848 | 12,537,757 |
B3 S.A. - Brasil Bolsa Balcao | 400,249 | 3,899,753 |
Banco Bradesco S.A. | 1,858,699 | 6,867,086 |
Banco do Brasil S.A. | 2,477,712 | 12,470,698 |
Banco Santander Brasil S.A. | 741,062 | 4,971,839 |
BRF S.A. * | 1,225,214 | 4,757,472 |
CCR S.A. | 1,511,436 | 3,051,050 |
Centrais Eletricas Brasileiras S.A. | 486,384 | 2,828,560 |
Cia Brasileira de Distribuicao | 327,675 | 4,880,097 |
Cia de Saneamento Basico do Estado de Sao Paulo | 431,880 | 2,851,793 |
Cia Energetica de Minas Gerais | 187,392 | 491,257 |
Cielo S.A. | 4,761,400 | 3,075,702 |
Cogna Educacao * | 3,544,594 | 2,378,730 |
Embraer S.A. * | 2,991,756 | 6,565,377 |
IRB Brasil Resseguros S.A. | 2,394,228 | 2,577,649 |
Itau Unibanco Holding S.A. | 919,435 | 3,855,554 |
JBS S.A. | 2,360,062 | 10,934,192 |
Petrobras Distribuidora S.A. | 2,196,890 | 7,852,442 |
Petroleo Brasileiro S.A. | 5,091,723 | 20,236,973 |
Suzano S.A. * | 419,900 | 5,512,975 |
Telefonica Brasil S.A. | 953,805 | 7,530,422 |
TIM S.A. | 1,374,072 | 3,155,924 |
Ultrapar Participacoes S.A. | 3,309,161 | 11,471,814 |
Vale S.A. | 4,003,899 | 67,906,897 |
212,662,013 | ||
Chile 1.0% | ||
Banco de Chile | 44,207,118 | 4,848,191 |
Cencosud S.A. | 4,375,114 | 8,575,749 |
Empresas COPEC S.A. | 991,156 | 11,185,232 |
Enel Americas S.A. | 40,200,561 | 6,123,169 |
Falabella S.A. | 1,040,388 | 4,314,509 |
Latam Airlines Group S.A. * | 1,827,960 | 3,419,731 |
38,466,581 | ||
China 25.9% | ||
Agile Group Holdings Ltd. | 3,010,643 | 4,253,598 |
Agricultural Bank of China Ltd., A Shares | 14,681,200 | 7,386,083 |
Agricultural Bank of China Ltd., H Shares | 45,600,272 | 16,576,894 |
Alibaba Group Holding Ltd. ADR * | 146,945 | 34,937,643 |
Anhui Conch Cement Co., Ltd., A Shares | 184,500 | 1,518,744 |
Anhui Conch Cement Co., Ltd., H Shares | 838,144 | 5,391,453 |
BAIC Motor Corp., Ltd., H Shares | 9,653,814 | 3,459,635 |
Baidu, Inc. ADR * | 125,884 | 35,683,079 |
Bank of China Ltd., A Shares | 9,040,500 | 4,520,355 |
Bank of China Ltd., H Shares | 134,669,255 | 47,219,782 |
Security | Number of Shares | Value ($) |
Bank of Communications Co., Ltd., A Shares | 5,080,600 | 3,583,160 |
Bank of Communications Co., Ltd., H Shares | 13,749,892 | 7,763,544 |
China Cinda Asset Management Co., Ltd., H Shares | 20,930,892 | 4,155,230 |
China CITIC Bank Corp., Ltd., A Shares | 1,350,400 | 1,089,931 |
China CITIC Bank Corp., Ltd., H Shares | 19,915,320 | 9,396,259 |
China Construction Bank Corp., A Shares | 1,133,300 | 1,269,745 |
China Construction Bank Corp., H Shares | 149,554,629 | 120,108,715 |
China Everbright Bank Co., Ltd., A Shares | 4,418,100 | 2,795,468 |
China Everbright Bank Co., Ltd., H Shares | 4,840,287 | 2,096,510 |
China Evergrande Group | 3,830,141 | 7,840,647 |
China Hongqiao Group Ltd. | 7,451,875 | 9,241,176 |
China Huarong Asset Management Co., Ltd., H Shares | 58,779,685 | 6,971,106 |
China Jinmao Holdings Group Ltd. | 5,666,704 | 2,359,498 |
China Life Insurance Co., Ltd., A Shares | 120,000 | 614,088 |
China Life Insurance Co., Ltd., H Shares | 2,805,543 | 5,916,799 |
China Mengniu Dairy Co., Ltd. * | 1,142,686 | 6,245,675 |
China Merchants Bank Co., Ltd., A Shares | 1,075,600 | 8,482,166 |
China Merchants Bank Co., Ltd., H Shares | 2,752,451 | 21,129,439 |
China Minsheng Banking Corp., Ltd., A Shares | 4,747,600 | 3,795,237 |
China Minsheng Banking Corp., Ltd., H Shares | 12,649,881 | 7,550,123 |
China National Building Material Co., Ltd., H Shares | 7,476,539 | 11,334,296 |
China Oriental Group Co., Ltd. | 13,668,315 | 4,299,237 |
China Overseas Land & Investment Ltd. | 5,122,375 | 12,968,790 |
China Pacific Insurance (Group) Co., Ltd., A Shares | 318,900 | 2,174,771 |
China Pacific Insurance (Group) Co., Ltd., H Shares | 1,805,853 | 8,299,053 |
China Petroleum & Chemical Corp., A Shares | 11,683,700 | 8,131,899 |
China Petroleum & Chemical Corp., H Shares | 121,798,844 | 67,357,673 |
China Railway Group Ltd., H Shares | 8,462,728 | 4,472,814 |
China Resources Land Ltd. | 2,468,752 | 11,727,396 |
China Resources Power Holdings Co., Ltd. | 6,413,626 | 7,465,828 |
China Shenhua Energy Co., Ltd., A Shares | 989,900 | 2,711,594 |
China Shenhua Energy Co., Ltd., H Shares | 6,708,240 | 12,746,551 |
Security | Number of Shares | Value ($) |
China State Construction Engineering Corp., Ltd., A Shares | 6,075,800 | 4,735,108 |
China Tower Corp., Ltd., H Shares | 25,050,163 | 3,745,891 |
China Vanke Co., Ltd., A Shares | 629,100 | 3,213,533 |
China Vanke Co., Ltd., H Shares | 1,465,807 | 6,216,691 |
CITIC Ltd. | 13,731,264 | 11,629,539 |
Country Garden Holdings Co., Ltd. | 7,043,510 | 8,761,996 |
Dongfeng Motor Group Co., Ltd., H Shares | 6,495,656 | 5,978,715 |
ENN Energy Holdings Ltd. | 358,515 | 5,495,103 |
Fosun International Ltd. | 3,368,988 | 5,055,208 |
GCL-Poly Energy Holdings Ltd. * | 86,449,228 | 31,760,885 |
Geely Automobile Holdings Ltd. | 3,109,502 | 10,101,317 |
Great Wall Motor Co., Ltd., A Shares | 247,700 | 1,199,156 |
Great Wall Motor Co., Ltd., H Shares | 3,462,412 | 10,064,957 |
Guangzhou R&F Properties Co., Ltd., H Shares | 3,279,829 | 4,380,237 |
Hengan International Group Co., Ltd. | 524,931 | 3,633,818 |
Huaneng Power International, Inc., A Shares | 1,433,100 | 891,285 |
Huaneng Power International, Inc., H Shares | 12,882,260 | 4,400,728 |
Industrial & Commercial Bank of China Ltd., A Shares | 7,605,600 | 6,302,935 |
Industrial & Commercial Bank of China Ltd., H Shares | 107,845,544 | 70,345,988 |
Industrial Bank Co., Ltd., A Shares | 1,998,600 | 7,612,128 |
JD.com, Inc. ADR * | 149,383 | 14,022,582 |
Jiangxi Copper Co., Ltd., A Shares | 548,200 | 2,360,360 |
Jiangxi Copper Co., Ltd., H Shares | 4,432,893 | 10,754,581 |
Kingboard Holdings Ltd. | 1,847,498 | 8,526,163 |
Kunlun Energy Co., Ltd. | 6,167,027 | 5,668,289 |
Legend Holdings Corp., H Shares | 2,642,471 | 3,944,622 |
Longfor Group Holdings Ltd. | 905,927 | 5,372,020 |
NetEase, Inc. ADR | 94,090 | 10,335,787 |
PetroChina Co., Ltd., H Shares | 73,065,933 | 26,184,624 |
PICC Property & Casualty Co., Ltd., H Shares | 11,548,667 | 8,738,896 |
Ping An Insurance Group Co. of China Ltd., A Shares | 357,800 | 4,703,412 |
Ping An Insurance Group Co. of China Ltd., H Shares | 2,554,707 | 31,384,890 |
Postal Savings Bank of China Co., Ltd., H Shares | 7,444,770 | 5,537,500 |
SAIC Motor Corp., Ltd., A Shares | 1,438,900 | 4,718,724 |
Shanghai Pudong Development Bank Co., Ltd., A Shares | 3,319,400 | 5,399,273 |
Shimao Group Holdings Ltd. | 1,416,190 | 4,664,435 |
Sinopec Shanghai Petrochemical Co., Ltd., A Shares | 1,518,600 | 867,122 |
Sinopec Shanghai Petrochemical Co., Ltd., H Shares | 13,071,504 | 3,201,590 |
Sinopharm Group Co., Ltd., H Shares | 2,641,943 | 6,184,803 |
Sunac China Holdings Ltd. | 927,461 | 3,969,359 |
Sunac Services Holdings Ltd. * | 71,605 | 230,765 |
Tencent Holdings Ltd. | 617,124 | 52,704,164 |
Vipshop Holdings Ltd. ADR * | 227,734 | 8,499,033 |
Weichai Power Co., Ltd., A Shares | 309,400 | 1,052,844 |
Weichai Power Co., Ltd., H Shares | 1,477,984 | 4,324,961 |
985,917,701 | ||
Colombia 0.2% | ||
Bancolombia S.A. | 441,097 | 3,830,217 |
Ecopetrol S.A. | 8,115,572 | 5,049,649 |
8,879,866 | ||
Security | Number of Shares | Value ($) |
Czech Republic 0.2% | ||
CEZ A/S | 264,041 | 6,477,070 |
Egypt 0.1% | ||
Commercial International Bank Egypt SAE GDR | 851,476 | 3,333,529 |
Greece 0.5% | ||
Alpha Bank AE * | 7,208,203 | 7,218,186 |
Hellenic Telecommunications Organization S.A. | 276,354 | 4,273,486 |
Motor Oil Hellas Corinth Refineries S.A. | 241,482 | 3,335,601 |
Piraeus Financial Holdings S.A. * | 2,609,450 | 2,435,693 |
17,262,966 | ||
Hungary 0.5% | ||
MOL Hungarian Oil & Gas plc * | 1,480,289 | 10,690,603 |
OTP Bank Nyrt * | 158,721 | 7,257,281 |
17,947,884 | ||
India 9.1% | ||
Axis Bank Ltd. * | 1,159,298 | 11,434,431 |
Bharat Petroleum Corp., Ltd. | 2,120,239 | 12,979,377 |
Bharti Airtel Ltd. | 987,172 | 7,473,141 |
Coal India Ltd. | 3,129,264 | 6,481,241 |
Grasim Industries Ltd. | 405,619 | 6,628,119 |
HCL Technologies Ltd. | 731,299 | 9,050,553 |
Hero MotoCorp Ltd. | 116,235 | 5,099,566 |
Hindalco Industries Ltd. | 2,539,301 | 11,757,463 |
Hindustan Petroleum Corp., Ltd. | 2,769,114 | 9,136,173 |
Housing Development Finance Corp., Ltd. | 448,706 | 15,505,804 |
Indian Oil Corp., Ltd. | 10,159,175 | 13,555,244 |
Infosys Ltd. | 2,228,046 | 37,999,729 |
ITC Ltd. | 1,947,160 | 5,401,491 |
JSW Steel Ltd. | 1,594,878 | 8,582,629 |
Larsen & Toubro Ltd. | 268,626 | 5,273,090 |
Mahindra & Mahindra Ltd. | 574,043 | 6,299,357 |
Maruti Suzuki India Ltd. | 77,847 | 7,273,718 |
NTPC Ltd. | 3,600,382 | 5,257,141 |
Oil & Natural Gas Corp., Ltd. | 13,461,687 | 20,334,045 |
Rajesh Exports Ltd. | 739,761 | 5,119,486 |
Reliance Industries Ltd. | 1,310,354 | 37,193,119 |
State Bank of India * | 2,540,450 | 13,487,876 |
Sun Pharmaceutical Industries Ltd. | 626,551 | 5,069,704 |
Tata Consultancy Services Ltd. | 429,500 | 16,916,403 |
Tata Motors Ltd. * | 5,775,444 | 25,381,774 |
Tata Motors Ltd., A Shares, DVR * | 2,339,937 | 4,098,114 |
Tata Steel Ltd. | 814,069 | 7,922,453 |
Vedanta Ltd. | 6,284,792 | 17,729,297 |
Wipro Ltd. | 1,179,690 | 6,586,743 |
345,027,281 | ||
Indonesia 1.2% | ||
PT Astra International Tbk | 27,157,145 | 10,298,355 |
PT Bank Central Asia Tbk | 2,206,463 | 5,198,514 |
PT Bank Mandiri (Persero) Tbk * | 14,863,432 | 6,419,249 |
Security | Number of Shares | Value ($) |
PT Bank Rakyat Indonesia (Persero) Tbk * | 33,037,745 | 10,927,513 |
PT Telkom Indonesia (Persero) Tbk | 54,793,089 | 13,428,924 |
46,272,555 | ||
Kuwait 0.5% | ||
Kuwait Finance House KSCP | 1,839,090 | 4,387,322 |
Mobile Telecommunications Co. KSCP | 2,719,169 | 5,633,302 |
National Bank of Kuwait SAKP | 3,506,303 | 9,557,905 |
19,578,529 | ||
Malaysia 1.6% | ||
Axiata Group Berhad | 6,388,072 | 5,602,880 |
CIMB Group Holdings Berhad | 8,617,220 | 9,218,669 |
Genting Berhad | 5,077,800 | 5,783,486 |
Malayan Banking Berhad | 5,757,953 | 11,423,437 |
Petronas Chemicals Group Berhad | 2,875,400 | 5,278,375 |
Public Bank Berhad | 10,425,100 | 10,714,865 |
Tenaga Nasional Berhad | 5,696,600 | 14,215,110 |
62,236,822 | ||
Mexico 3.9% | ||
Alfa S.A.B. de C.V., A Shares | 12,106,475 | 6,594,426 |
America Movil S.A.B. de C.V., Series L | 46,205,725 | 29,587,751 |
Cemex S.A.B. de C.V. ADR * | 4,509,810 | 29,809,844 |
Controladora Nemak S.A.B. de C.V. * | 12,221,659 | 1,718,356 |
Fomento Economico Mexicano S.A.B. de C.V. | 2,292,005 | 15,689,610 |
Grupo Bimbo S.A.B. de C.V., Series A | 2,955,978 | 5,555,579 |
Grupo Financiero Banorte S.A.B. de C.V., O Shares * | 3,010,679 | 15,126,465 |
Grupo Mexico S.A.B. de C.V., Series B | 4,014,742 | 19,071,008 |
Grupo Televisa S.A.B., Series CPO * | 3,483,014 | 5,185,253 |
Orbia Advance Corp. S.A.B. de C.V. | 2,877,154 | 6,713,199 |
Wal-Mart de Mexico S.A.B. de C.V. | 4,830,739 | 13,787,260 |
148,838,751 | ||
Philippines 0.3% | ||
PLDT, Inc. (a) | 192,115 | 5,109,421 |
SM Investments Corp. (a) | 199,760 | 4,167,445 |
9,276,866 | ||
Qatar 0.4% | ||
Ooredoo QPSC | 2,347,302 | 4,963,061 |
Qatar National Bank QPSC | 2,175,470 | 10,304,622 |
15,267,683 | ||
Russia 9.6% | ||
Alrosa PJSC | 4,904,906 | 6,547,552 |
Gazprom PJSC | 36,982,102 | 108,608,179 |
Inter RAO UES PJSC | 83,754,823 | 5,736,285 |
LUKOIL PJSC | 1,211,325 | 91,063,688 |
Magnit PJSC | 209,976 | 13,864,121 |
MMC Norilsk Nickel PJSC | 38,393 | 12,027,188 |
Mobile TeleSystems PJSC | 1,809,165 | 7,645,641 |
Novatek PJSC | 582,577 | 9,991,836 |
Novolipetsk Steel PJSC | 1,895,674 | 5,693,825 |
Rosneft Oil Co. PJSC | 3,149,821 | 22,223,590 |
ROSSETI PJSC | 154,526,117 | 3,520,801 |
Sberbank of Russia PJSC | 10,099,780 | 36,588,879 |
Severstal PAO | 392,829 | 7,109,526 |
Sistema PJSFC | 14,666,796 | 6,850,966 |
Security | Number of Shares | Value ($) |
Surgutneftegas PJSC | 14,147,746 | 6,165,883 |
Tatneft PJSC | 2,322,383 | 16,341,974 |
VTB Bank PJSC | 10,483,000,000 | 5,200,890 |
365,180,824 | ||
Saudi Arabia 2.6% | ||
Al Rajhi Bank | 576,576 | 13,989,712 |
National Commercial Bank | 725,768 | 9,095,080 |
Riyad Bank | 857,730 | 4,528,211 |
Samba Financial Group | 576,551 | 5,188,267 |
Saudi Arabian Oil Co. | 420,736 | 3,875,864 |
Saudi Basic Industries Corp. | 1,254,478 | 35,655,874 |
Saudi Electricity Co. | 1,102,140 | 6,194,670 |
Saudi Telecom Co. | 493,648 | 15,636,684 |
Yanbu National Petrochemical Co. | 243,647 | 4,631,924 |
98,796,286 | ||
South Africa 6.0% | ||
Absa Group Ltd. | 1,979,728 | 15,860,044 |
AngloGold Ashanti Ltd. | 252,959 | 5,063,439 |
Aspen Pharmacare Holdings Ltd. * | 489,923 | 4,607,710 |
Barloworld Ltd. * | 1,184,741 | 7,114,117 |
Bid Corp., Ltd. | 456,356 | 8,537,326 |
FirstRand Ltd. | 3,921,693 | 13,028,941 |
Gold Fields Ltd. | 668,538 | 5,551,784 |
MTN Group Ltd. | 6,900,675 | 33,117,773 |
Naspers Ltd., N Shares | 31,172 | 7,240,239 |
Nedbank Group Ltd. | 1,084,304 | 9,351,663 |
Old Mutual Ltd. | 7,429,143 | 6,597,143 |
Remgro Ltd. | 561,209 | 3,839,027 |
Sanlam Ltd. | 1,537,109 | 6,168,226 |
Sappi Ltd. * | 3,407,068 | 9,987,543 |
Sasol Ltd. * | 3,554,795 | 44,224,149 |
Shoprite Holdings Ltd. | 1,204,421 | 10,581,649 |
Standard Bank Group Ltd. | 2,263,526 | 19,876,138 |
The Bidvest Group Ltd. | 479,992 | 5,331,924 |
Vodacom Group Ltd. | 789,981 | 6,497,703 |
Woolworths Holdings Ltd. | 2,376,250 | 7,237,198 |
229,813,736 | ||
Taiwan 21.0% | ||
Acer, Inc. | 6,937,470 | 6,687,768 |
ASE Technology Holding Co.,Ltd. | 5,327,000 | 19,795,153 |
Asustek Computer, Inc. | 1,821,176 | 19,877,480 |
AU Optronics Corp. * | 43,597,371 | 29,584,070 |
Catcher Technology Co., Ltd. | 1,042,000 | 7,182,982 |
Cathay Financial Holding Co., Ltd. | 6,234,840 | 9,390,595 |
Cheng Shin Rubber Industry Co., Ltd. | 3,008,000 | 4,660,091 |
China Steel Corp. | 17,591,088 | 15,631,610 |
Chunghwa Telecom Co., Ltd. | 3,249,764 | 12,776,202 |
Compal Electronics, Inc. | 19,067,000 | 15,197,465 |
CTBC Financial Holding Co., Ltd. | 13,162,809 | 9,451,797 |
Delta Electronics, Inc. | 1,582,696 | 15,939,188 |
Far Eastern New Century Corp. | 6,739,061 | 7,004,607 |
Far EasTone Telecommunications Co., Ltd. | 1,735,588 | 3,850,977 |
First Financial Holding Co., Ltd. | 5,602,471 | 4,193,933 |
Formosa Chemicals & Fibre Corp. | 4,698,882 | 14,508,710 |
Formosa Petrochemical Corp. | 1,988,704 | 7,140,127 |
Formosa Plastics Corp. | 3,941,704 | 13,798,264 |
Foxconn Technology Co., Ltd. | 2,282,858 | 5,737,369 |
Fubon Financial Holding Co., Ltd. | 8,548,116 | 15,314,639 |
Hon Hai Precision Industry Co., Ltd. | 32,956,928 | 132,525,839 |
Innolux Corp. * | 55,858,000 | 34,093,385 |
Inventec Corp. | 8,213,646 | 7,313,470 |
Security | Number of Shares | Value ($) |
Largan Precision Co., Ltd. | 37,700 | 4,459,977 |
Lite-On Technology Corp. | 3,535,229 | 7,539,453 |
MediaTek, Inc. | 765,046 | 24,611,120 |
Mega Financial Holding Co., Ltd. | 6,446,548 | 6,758,431 |
Nan Ya Plastics Corp. | 6,379,588 | 16,651,864 |
Pegatron Corp. | 7,325,234 | 19,619,871 |
Pou Chen Corp. | 5,890,000 | 6,386,428 |
President Chain Store Corp. | 404,000 | 3,800,305 |
Quanta Computer, Inc. | 4,093,058 | 12,491,156 |
Synnex Technology International Corp. | 3,398,178 | 6,021,006 |
Taiwan Cement Corp. | 4,180,302 | 6,303,660 |
Taiwan Mobile Co., Ltd. | 1,169,000 | 4,075,394 |
Taiwan Semiconductor Manufacturing Co., Ltd. | 8,806,352 | 191,603,961 |
Uni-President Enterprises Corp. | 4,508,796 | 10,878,416 |
United Microelectronics Corp. | 15,930,931 | 31,001,040 |
Walsin Lihwa Corp. | 9,432,000 | 6,298,724 |
Wistron Corp. | 8,327,934 | 9,568,042 |
WPG Holdings Ltd. | 4,696,880 | 7,647,554 |
Yageo Corp. | 316,000 | 6,727,870 |
Yuanta Financial Holding Co., Ltd. | 6,545,960 | 4,994,225 |
799,094,218 | ||
Thailand 3.0% | ||
Advanced Info Service PCL NVDR | 858,600 | 4,715,391 |
Charoen Pokphand Foods PCL NVDR | 4,446,400 | 4,242,044 |
CP ALL PCL NVDR | 2,530,100 | 4,995,552 |
Kasikornbank PCL NVDR | 1,408,000 | 6,611,316 |
Krung Thai Bank PCL NVDR | 12,244,600 | 4,875,898 |
PTT Exploration & Production PCL NVDR | 1,819,100 | 6,941,978 |
PTT Global Chemical PCL NVDR | 5,537,100 | 11,529,883 |
PTT PCL NVDR | 27,975,100 | 37,133,035 |
Thai Oil PCL NVDR | 3,463,900 | 6,810,555 |
The Siam Cement PCL NVDR | 1,224,000 | 14,865,903 |
The Siam Commercial Bank PCL NVDR | 3,717,600 | 12,706,580 |
115,428,135 | ||
Turkey 1.6% | ||
Akbank T.A.S. * | 7,435,196 | 6,074,048 |
BIM Birlesik Magazalar A/S | 443,736 | 3,954,024 |
Eregli Demir ve Celik Fabrikalari T.A.S. | 3,702,623 | 7,282,457 |
Haci Omer Sabanci Holding A/S | 3,225,728 | 4,557,243 |
KOC Holding A/S | 2,606,871 | 7,583,753 |
Turk Hava YollariI AO * | 2,394,237 | 4,354,038 |
Turkcell Iletisim Hizmetleri A/S | 2,932,714 | 6,266,314 |
Turkiye Garanti Bankasi A/S * | 5,698,861 | 6,852,769 |
Turkiye Halk Bankasi A/S * | 5,306,637 | 3,827,246 |
Turkiye Is Bankasi A/S, Class C * | 5,108,008 | 3,945,657 |
Turkiye Petrol Rafinerileri A/S * | 494,561 | 6,740,377 |
61,437,926 | ||
United Arab Emirates 0.7% | ||
Abu Dhabi Commercial Bank PJSC | 2,366,309 | 4,045,688 |
Emaar Properties PJSC * | 7,066,676 | 6,714,319 |
Emirates Telecommunications Group Co. PJSC | 1,638,499 | 8,876,885 |
First Abu Dhabi Bank PJSC | 2,031,175 | 8,128,792 |
27,765,684 | ||
Total Common Stock | ||
(Cost $2,976,650,119) | 3,634,962,906 |
Security | Number of Shares | Value ($) |
Preferred Stock 4.4% of net assets | ||
Brazil 3.2% | ||
Banco Bradesco S.A. | 6,970,384 | 28,766,803 |
Centrais Eletricas Brasileiras S.A., B Shares | 231,002 | 1,358,311 |
Companhia Energetica de Minas Gerais | 2,369,533 | 5,085,118 |
Gerdau S.A. | 2,340,806 | 10,865,980 |
Itau Unibanco Holding S.A. | 8,793,457 | 40,314,159 |
Metalurgica Gerdau S.A. | 2,668,893 | 5,545,578 |
Petroleo Brasileiro S.A. | 7,789,821 | 31,086,321 |
123,022,270 | ||
Colombia 0.2% | ||
Bancolombia S.A. | 755,013 | 6,472,554 |
Russia 1.0% | ||
Surgutneftegas PJSC | 12,567,805 | 6,630,608 |
Tatneft PJSC | 228,166 | 1,505,444 |
Transneft PJSC | 15,595 | 29,960,811 |
38,096,863 | ||
Total Preferred Stock | ||
(Cost $183,739,542) | 167,591,687 | |
Other Investment Company 0.4% of net assets | ||
United States 0.4% | ||
Money Market Fund 0.4% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (b) | 13,393,049 | 13,393,049 |
Total Other Investment Company | ||
(Cost $13,393,049) | 13,393,049 |
Number of Contracts | Notional Amount ($) | Current Value/ Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
Long | ||||||
MSCI Emerging Markets Index, expires 03/19/21 | 51 | 3,412,155 | (104,320) |
* | Non-income producing security. |
(a) | Fair-valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees. |
(b) | The rate shown is the 7-day yield. |
ADR — | American Depositary Receipt |
DVR — | Differential Voting Rights |
GDR — | Global Depositary Receipt |
NVDR — | Non-Voting Depositary Receipt |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Assets | |||||
Common Stock1 | $3,625,686,040 | $— | $— | $3,625,686,040 | |
Philippines | — | — | 9,276,866 | 9,276,866 | |
Preferred Stock1 | 167,591,687 | — | — | 167,591,687 | |
Other Investment Company1 | 13,393,049 | — | — | 13,393,049 | |
Liabilities | |||||
Futures Contracts2 | (104,320) | — | — | (104,320) | |
Total | $3,806,566,456 | $— | $9,276,866 | $3,815,843,322 |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments in unaffiliated issuers, at value (cost $3,173,782,710) | $3,815,947,642 | |
Deposit with broker for futures contracts | 515,160 | |
Foreign currency, at value (cost $1,475,209) | 1,463,749 | |
Receivables: | ||
Dividends | 2,455,538 | |
Income from securities on loan | + | 527 |
Total assets | 3,820,382,616 | |
Liabilities | ||
Payables: | ||
Management fees | 1,155,264 | |
Foreign capital gains tax | 13,654,914 | |
Variation margin on futures contracts | + | 48,200 |
Total liabilities | 14,858,378 | |
Net Assets | ||
Total assets | 3,820,382,616 | |
Total liabilities | – | 14,858,378 |
Net assets | $3,805,524,238 | |
Net Assets by Source | ||
Capital received from investors | 3,386,797,569 | |
Total distributable earnings | 418,726,669 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$3,805,524,238 | 128,400,000 | $29.64 | ||
Investment Income | ||
Dividends received from unaffiliated issuers (net of foreign withholding tax of $15,175,575) | $103,423,258 | |
Securities on loan, net | + | 94,898 |
Total investment income | 103,518,156 | |
Expenses | ||
Management fees | 11,500,249 | |
Professional fees | + | 11,464* |
Total expenses | 11,511,713 | |
Expense reduction by CSIM | - | 11,464* |
Net expenses | – | 11,500,249 |
Net investment income | 92,017,907 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on unaffiliated issuers (net of foreign capital gains tax of $8,706) | (121,866,337) | |
Net realized gains on in-kind redemptions on unaffiliated issuers | 4,010,997 | |
Net realized gains on futures contracts | 3,918,931 | |
Net realized losses on foreign currency transactions | + | (1,705,853) |
Net realized losses | (115,642,262) | |
Net change in unrealized appreciation (depreciation) on unaffiliated issuers (net of change in foreign capital gains tax of $13,654,914) | 652,121,840 | |
Net change in unrealized appreciation (depreciation) on futures contracts | 473,784 | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | 148,752 |
Net change in unrealized appreciation (depreciation) | + | 652,744,376 |
Net realized and unrealized gains | 537,102,114 | |
Increase in net assets resulting from operations | $629,120,021 |
* | Professional fees associated with the filing of tax claims in the European Union deemed to be non-routine expenses of the fund. See financial notes 2 (d) and 4 for additional information. |
Operations | ||||
3/1/20-2/28/21 | 3/1/19-2/29/20 | |||
Net investment income | $92,017,907 | $92,667,381 | ||
Net realized gains (losses) | (115,642,262) | 11,066,853 | ||
Net change in unrealized appreciation (depreciation) | + | 652,744,376 | (270,561,241) | |
Increase (decrease) in net assets resulting from operations | 629,120,021 | (166,827,007) | ||
Distributions to Shareholders | ||||
Total distributions | ($87,400,780) | ($99,031,790) |
Transactions in Fund Shares | ||||||||
3/1/20-2/28/21 | 3/1/19-2/29/20 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 31,300,000 | $765,612,459 | 24,000,000 | $683,687,511 | ||||
Shares redeemed | + | (3,700,000) | (76,104,258) | (6,600,000) | (185,107,560) | |||
Net transactions in fund shares | 27,600,000 | $689,508,201 | 17,400,000 | $498,579,951 | ||||
Shares Outstanding and Net Assets | ||||||||
3/1/20-2/28/21 | 3/1/19-2/29/20 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 100,800,000 | $2,574,296,796 | 83,400,000 | $2,341,575,642 | ||||
Total increase | + | 27,600,000 | 1,231,227,442 | 17,400,000 | 232,721,154 | |||
End of period | 128,400,000 | $3,805,524,238 | 100,800,000 | $2,574,296,796 |
SCHWAB STRATEGIC TRUST (ORGANIZED JANUARY 27, 2009) | |
Schwab Fundamental U.S. Broad Market Index ETF | Schwab U.S. Dividend Equity ETF |
Schwab Fundamental U.S. Large Company Index ETF | Schwab U.S. REIT ETF |
Schwab Fundamental U.S. Small Company Index ETF | Schwab International Equity ETF |
Schwab Fundamental International Large Company Index ETF | Schwab International Small-Cap Equity ETF |
Schwab Fundamental International Small Company Index ETF | Schwab Emerging Markets Equity ETF |
Schwab Fundamental Emerging Markets Large Company Index ETF | Schwab U.S. TIPS ETF |
Schwab U.S. Broad Market ETF | Schwab Short-Term U.S. Treasury ETF |
Schwab 1000 Index® ETF | Schwab Intermediate-Term U.S. Treasury ETF |
Schwab U.S. Large-Cap ETF | Schwab Long-Term U.S. Treasury ETF |
Schwab U.S. Large-Cap Growth ETF | Schwab U.S. Aggregate Bond ETF |
Schwab U.S. Large-Cap Value ETF | Schwab 1-5 Year Corporate Bond ETF |
Schwab U.S. Mid-Cap ETF | Schwab 5-10 Year Corporate Bond ETF |
Schwab U.S. Small-Cap ETF |
2. Significant Accounting Policies:
3. Risk Factors:
4. Affiliates and Affiliated Transactions:
Schwab Fundamental U.S. Broad Market Index ETF | Schwab Fundamental U.S. Large Company Index ETF | Schwab Fundamental U.S. Small Company Index ETF | Schwab Fundamental International Large Company Index ETF | Schwab Fundamental International Small Company Index ETF | Schwab Fundamental Emerging Markets Large Company Index ETF |
0.25% | 0.25% | 0.25% | 0.25% | 0.39% | 0.39% |
Total Aggregate Transactions | Realized Gains (Losses) | |
Schwab Fundamental U.S. Broad Market Index ETF | $14,804,180 | ($729,058) |
Schwab Fundamental U.S. Large Company Index ETF | 330,776,542 | (23,702,948) |
Schwab Fundamental U.S. Small Company Index ETF | 154,188,895 | (3,926,024) |
Schwab Fundamental International Large Company Index ETF | 118,097,814 | (19,095,575) |
Schwab Fundamental International Small Company Index ETF | 96,739,923 | (9,040,283) |
Schwab Fundamental Emerging Markets Large Company Index ETF | 47,105,476 | 219,763 |
5. Other Service Providers:
6. Board of Trustees:
7. Borrowing from Banks:
8. Derivatives:
Notional Amounts | Number of Contracts | |
Schwab Fundamental U.S. Broad Market Index ETF | $475,497 | 3 |
Schwab Fundamental U.S. Large Company Index ETF | 10,059,889 | 62 |
Schwab Fundamental U.S. Small Company Index ETF | 5,714,700 | 74 |
Schwab Fundamental International Large Company Index ETF | 23,689,268 | 260 |
Schwab Fundamental International Small Company Index ETF | 8,886,733 | 99 |
Schwab Fundamental Emerging Markets Large Company Index ETF | 11,021,202 | 208 |
9. Purchases and Sales of Investment Securities:
Purchases of Securities | Sales of Securities | |
Schwab Fundamental U.S. Broad Market Index ETF | $33,540,318 | $33,926,080 |
Schwab Fundamental U.S. Large Company Index ETF | 673,271,031 | 680,559,137 |
Schwab Fundamental U.S. Small Company Index ETF | 845,107,957 | 780,504,768 |
Schwab Fundamental International Large Company Index ETF | 726,459,317 | 682,447,916 |
Schwab Fundamental International Small Company Index ETF | 454,404,766 | 458,700,265 |
Schwab Fundamental Emerging Markets Large Company Index ETF | 1,322,150,165 | 743,740,781 |
10. In-Kind Transactions:
In-Kind Purchases of Securities | In-Kind Sales of Securities | |
Schwab Fundamental U.S. Broad Market Index ETF | $19,595,084 | $57,575,066 |
Schwab Fundamental U.S. Large Company Index ETF | 985,983,649 | 1,960,470,271 |
Schwab Fundamental U.S. Small Company Index ETF | 802,107,199 | 1,341,927,946 |
Schwab Fundamental International Large Company Index ETF | 880,123,871 | 661,677,153 |
Schwab Fundamental International Small Company Index ETF | 146,363,317 | 222,088,441 |
Schwab Fundamental Emerging Markets Large Company Index ETF | 143,510,394 | 35,983,758 |
11. Federal Income Taxes
Schwab Fundamental U.S. Broad Market Index ETF | Schwab Fundamental U.S. Large Company Index ETF | Schwab Fundamental U.S. Small Company Index ETF | Schwab Fundamental International Large Company Index ETF | Schwab Fundamental International Small Company Index ETF | Schwab Fundamental Emerging Markets Large Company Index ETF | ||||||
Tax cost | $217,985,435 | $4,823,252,514 | $3,238,010,535 | $5,084,003,032 | $2,036,649,975 | $3,278,582,014 | |||||
Gross unrealized appreciation | $83,675,089 | $1,348,131,468 | $1,073,605,391 | $1,155,307,583 | $503,696,925 | $888,908,068 | |||||
Gross unrealized depreciation | (15,383,411) | (272,251,591) | (211,390,953) | (518,639,740) | (221,158,374) | (351,646,760) | |||||
Net unrealized appreciation (depreciation) | $68,291,678 | $1,075,879,877 | $862,214,438 | $636,667,843 | $282,538,551 | $537,261,308 |
Schwab Fundamental U.S. Broad Market Index ETF | Schwab Fundamental U.S. Large Company Index ETF | Schwab Fundamental U.S. Small Company Index ETF | Schwab Fundamental International Large Company Index ETF | Schwab Fundamental International Small Company Index ETF | Schwab Fundamental Emerging Markets Large Company Index ETF | ||||||
Undistributed ordinary income | $835,373 | $18,040,278 | $— | $34,968,627 | $14,170,433 | $15,292,072 | |||||
Net unrealized appreciation (depreciation) on investments | 68,291,678 | 1,075,879,877 | 862,214,438 | 636,667,843 | 282,538,551 | 537,261,308 | |||||
Net other unrealized appreciation (depreciation) | — | — | — | (61,566) | 24,703 | (13,726,583) | |||||
Capital loss carryforwards and other losses | (11,797,791) | (207,547,423) | (456,821,302) | (144,716,310) | (127,994,160) | (120,100,128) | |||||
Total | $57,329,260 | $886,372,732 | $405,393,136 | $526,858,594 | $168,739,527 | $418,726,669 |
Expiration Date | Schwab Fundamental U.S. Broad Market Index ETF | Schwab Fundamental U.S. Large Company Index ETF | Schwab Fundamental U.S. Small Company Index ETF | Schwab Fundamental International Large Company Index ETF | Schwab Fundamental International Small Company Index ETF | Schwab Fundamental Emerging Markets Large Company Index ETF | |||||
No expiration | $11,797,791 | $207,547,423 | $456,594,093 | $144,716,310 | $127,994,160 | $120,100,128 | |||||
Total | $11,797,791 | $207,547,423 | $456,594,093 | $144,716,310 | $127,994,160 | $120,100,128 |
Schwab Fundamental U.S. Broad Market Index ETF | Schwab Fundamental U.S. Large Company Index ETF | Schwab Fundamental U.S. Small Company Index ETF | Schwab Fundamental International Large Company Index ETF | Schwab Fundamental International Small Company Index ETF | Schwab Fundamental Emerging Markets Large Company Index ETF | |
Current fiscal year end distributions | ||||||
Ordinary income | $6,024,890 | $134,608,220 | $51,561,985 | $114,361,960 | $38,178,680 | $87,400,780 |
Prior fiscal year end distributions | ||||||
Ordinary income | $6,831,860 | $128,120,700 | $50,954,980 | $150,746,760 | $57,727,940 | $99,031,790 |
12. Independent Registered Public Accounting Firm:
Denver, Colorado
April 16, 2021
Foreign Tax Credit | Foreign Source Income | |
Schwab Fundamental U.S. Broad Market Index ETF | $— | $— |
Schwab Fundamental U.S. Large Company Index ETF | — | — |
Schwab Fundamental U.S. Small Company Index ETF | — | — |
Schwab Fundamental International Large Company Index ETF | 12,887,060 | 147,419,207 |
Schwab Fundamental International Small Company Index ETF | 3,887,970 | 43,521,248 |
Schwab Fundamental Emerging Markets Large Company Index ETF | 14,672,297 | 118,610,243 |
Schwab Fundamental U.S. Broad Market Index ETF | 96.97% |
Schwab Fundamental U.S. Large Company Index ETF | 96.53% |
Schwab Fundamental U.S. Small Company Index ETF | 81.60% |
Schwab Fundamental International Large Company Index ETF | —% |
Schwab Fundamental International Small Company Index ETF | —% |
Schwab Fundamental Emerging Markets Large Company Index ETF | —% |
Schwab Fundamental U.S. Broad Market Index ETF | $6,024,890 |
Schwab Fundamental U.S. Large Company Index ETF | 134,608,220 |
Schwab Fundamental U.S. Small Company Index ETF | 43,507,710 |
Schwab Fundamental International Large Company Index ETF | 102,851,751 |
Schwab Fundamental International Small Company Index ETF | 28,945,834 |
Schwab Fundamental Emerging Markets Large Company Index ETF | 67,531,658 |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor (Jan. 2009 – present). Formerly, Managing Director, Pacific Investment Management Company, LLC (PIMCO) (investment management firm) and President, PIMCO Funds. | 103 | None |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Fellow (Oct. 1979 – present), The Hoover Institution at Stanford University (public policy think tank); Senior Fellow (2000 – present), Stanford Institute for Economic Policy Research; Professor of Public Policy (1994 – 2015), Stanford University. | 103 | Director (2005 – 2020), Gilead Sciences, Inc. |
Nancy F. Heller 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Retired. President and Chairman (2014 – 2016), TIAA Charitable (financial services); Senior Managing Director (2003 – 2016), TIAA (financial services). | 103 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 103 | Director (2004 – present), Corcept Therapeutics Incorporated Director (2009 – present), Adamas Pharmaceuticals, Inc. Director (2003 – 2019), Symantec Corporation |
Jane P. Moncreiff 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2019) | Consultant (2018 – present), Fulham Advisers LLC (management consulting); Chief Investment Officer (2009 – 2017), CareGroup Healthcare System, Inc. (healthcare). | 103 | None |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. Executive Vice President and General Manager of Small Business Group (Dec. 2008 – Sept. 2013), Intuit, Inc. (financial software and services firm for consumers and small businesses). | 103 | Director (2008 – present), KLA-Tencor Corporation |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant (2008 – present), Patmore Management Consulting (management consulting). | 103 | None |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Director, President and Chief Executive Officer (Oct. 2008 – present), The Charles Schwab Corporation; President and Chief Executive Officer (Oct. 2008 – present) and Director (May 2008 – present), Charles Schwab & Co., Inc.; Director (Apr. 2006 – present), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (July 2019 – present), Charles Schwab Trust Bank; Director (May 2008 – present) and President and Chief Executive Officer (Aug. 2017 – present), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation; Director (July 2016 – present), Charles Schwab Investment Management, Inc. | 103 | Director (2008 – present), The Charles Schwab Corporation |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Chief Operating Officer (Feb. 2018 – present) and Senior Executive Vice President (July 2015 – Feb. 2018), The Charles Schwab Corporation; Senior Executive Vice President (July 2015 – present), Charles Schwab & Co., Inc.; Chief Financial Officer (July 2015 – Aug. 2017) and Executive Vice President and Chief Financial Officer (May 2007 – July 2015), The Charles Schwab Corporation and Charles Schwab & Co., Inc.; Director (May 2007 – present), Charles Schwab & Co., Inc.; Director (Apr. 2010 – present) and Chief Executive Officer (July 2013 – Apr. 2015), Charles Schwab Bank, SSB; Director (Nov. 2017 – present), Charles Schwab Premier Bank, SSB; Director (May 2007 – present), Chief Financial Officer (May 2007 – Aug. 2017), Senior Executive Vice President (Feb. 2016 – present), and Executive Vice President (May 2007 – Feb. 2016), Schwab Holdings, Inc.; Director (Oct. 2020 – present), TD Ameritrade Holding Corporation. | 103 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Jonathan de St. Paer 1973 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2018) | Director (Apr. 2019 – present), President (Oct. 2018 – present), Chief Operating Officer (Jan. 2020 – present), and Chief Executive Officer (Apr. 2019 – Nov. 2019), Charles Schwab Investment Management, Inc.; Senior Vice President (June 2020 – present) and Chief Operating Officer (Jan. 2020 – present), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (Apr. 2019 – present), President (Nov. 2018 – present) and Trustee (Apr. 2019 – Dec. 2020), Schwab Funds, Laudus Funds and Schwab ETFs; Director (Apr. 2019 – present), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), and Vice President (Jan. 2009 – Dec. 2013), Charles Schwab & Co., Inc. |
Mark Fischer 1970 Treasurer, Chief Financial Officer and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer (Jan. 2016 – present) and Chief Operating Officer (Dec. 2020 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Assistant Treasurer (Dec. 2013 – Dec. 2015), Schwab Funds and Laudus Funds; Assistant Treasurer (Nov. 2013 – Dec. 2015), Schwab ETFs; Chief Financial Officer (Mar. 2020 – present) and Vice President (Oct. 2013 – present), Charles Schwab Investment Management, Inc.; Executive Director (Apr. 2011 – Sept. 2013), J.P. Morgan Investor Services; Assistant Treasurer (May 2005 – Mar. 2011), Massachusetts Financial Service Investment Management. |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Head of the Portfolio Management Group and Vice President of Portfolio Management (May 2009 – Apr. 2011), Financial Engines, Inc. (investment management firm); Head of Quantitative Equity (July 2004 – Jan. 2009), ING Investment Management. |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer (Apr. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Investment Officer – Fixed Income (June 2011 – present), Schwab Funds, Laudus Funds and Schwab ETFs; Senior Managing Director and Global Head of Active Fixed-Income Strategies (Jan. 2008 – Oct. 2010), State Street Global Advisors; Director of Alpha Strategies (Apr. 2006 – Jan. 2008), Loomis, Sayles & Company (investment management firm). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President (Sept. 2011 – present) and Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present) and Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (Apr. 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk (Apr. 2011 – present), Laudus Funds; Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Vice President (July 2005 – present), Charles Schwab & Co., Inc.; Vice President (Sept. 2005 – present), Charles Schwab Investment Management, Inc.; Vice President (Dec. 2005 – present) and Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary (Oct. 2009 – present), Schwab ETFs. |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger and Mr. Martinetto are Interested Trustees. Mr. Bettinger is an Interested Trustee because he owns stock of The Charles Schwab Corporation (CSC), the parent company of Charles Schwab Investment Management, Inc. (CSIM), the investment adviser for the trusts in the Fund Complex, is an employee and director of Charles Schwab & Co., Inc. (CS&Co), the principal underwriter for The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust, and is a director of CSIM. Mr. Martinetto is an Interested Trustee because he owns stock of CSC and is an employee and director of CS&Co. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
Schwab ETFs
Index ETF
Printed on recycled paper.
* | FUNDAMENTAL INDEX is a registered trademark of Research Affiliates LLC. |
Item 2: Code of Ethics.
(a) | Registrant has adopted a code of ethics that applies to its principal executive officer, principal financial officer, and any other persons who perform a similar function, regardless of whether these individuals are employed by Registrant or a third party. |
(c) | During the period covered by the report, no amendments were made to the provisions of this code of ethics. |
(d) | During the period covered by the report, Registrant did not grant any waivers, including implicit waivers, from the provisions of this code of ethics. |
(f)(1) | Registrant has filed this code of ethics as an exhibit pursuant to Item 13(a)(1) of Form N-CSR. |
Item 3: Audit Committee Financial Expert.
Registrant’s Board of Trustees has determined that Kiran M. Patel and Kimberly S. Patmore, each currently serving on its audit, compliance and valuation committee, are each an “audit committee financial expert,” as such term is defined in Item 3 of Form N-CSR. Each member of Registrant’s audit, compliance and valuation committee is “independent” under the standards set forth in Item 3 of Form N-CSR.
The designation of each of Mr. Patel and Ms. Patmore as an “audit committee financial expert” pursuant to Item 3 of Form N-CSR does not (i) impose upon such individual any duties, obligations, or liability that are greater than the duties, obligations and liability imposed upon such individual as a member of Registrant’s audit, compliance and valuation committee or Board of Trustees in the absence of such designation; and (ii) affect the duties, obligations or liability of any other member of Registrant’s audit, compliance and valuation committee or Board of Trustees.
Item 4: Principal Accountant Fees and Services.
Registrant is composed of twenty-five operational series. Seven series have a fiscal year-end of the last day of February, whose annual financial statements are reported in Item 1, eleven series have a fiscal year-end of August 31and seven series have a fiscal year-end of December 31. Principal accountant fees disclosed in Items 4(a)-(d) and 4(g) include fees billed for services rendered to each of the twenty-five operational series during 2020/2021 and 2019/2020, based on their respective 2020/2021 and 2019/2020 fiscal years, as applicable.
The following table presents fees billed by the principal accountant in each of the last two fiscal years for the services rendered to the Funds:
(a) Audit Fees | (b)Audit-Related Fees | (c) Tax Fees1 | (d) All Other Fees | |||||||||||||||||||||||||
Fiscal Year | Fiscal Year 2019/2020 | Fiscal Year 2020/2021 | Fiscal Year 2019/2020 | Fiscal Year 2020/2021 | Fiscal Year 2019/2020 | Fiscal Year 2020/2021 | Fiscal Year 2019/2020 | |||||||||||||||||||||
$450,900 | $ | 563,669 | $ | 0 | $ | 0 | $ | 77,500 | $ | 104,429 | $ | 0 | $ | 0 |
1 | The nature of the services includes tax compliance, tax advice and tax planning. |
(e) (1) Registrant’s audit, compliance and valuation committee does not have pre-approval policies and procedures as described in paragraph (c)(7) of Rule 2-01 of Regulation S-X.
(2) There were no services described in each of paragraphs (b) through (d) above (including services required to be approved by Registrant’s audit, compliance and valuation committee pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X) that were approved by Registrant’s audit, compliance and valuation committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.
(f) Not applicable.
(g) Below are the aggregate non-audit fees billed in each of the last two fiscal years by Registrant’s principal accountant for services rendered to Registrant, to Registrant’s investment adviser, and to any entity controlling, controlled by, or under common control with Registrant’s investment adviser that provides ongoing services to Registrant.
2019/2020: $4,326,956 2018/2019:$104,429
(h) During the past fiscal year, all non-audit services provided by Registrant’s principal accountant to either Registrant’s investment adviser or to any entity controlling, controlled by, or under common control with Registrant’s investment adviser that provides ongoing services to Registrant were pre-approved. Included in the audit, compliance and valuation committee’s pre-approval was the review and consideration as to whether the provision of these non-audit services is compatible with maintaining the principal accountant’s independence.
Item 5: Audit Committee of Listed Registrants.
The Registrant is a listed issuer as defined in Rule 10A-3 under the Exchange Act and has separately-designated standing audit, compliance and valuation committee established in accordance with Section 3(a)(58)(A) of the Exchange Act. The Registrant’s audit, compliance and valuation committee members are Kiran M. Patel, John F. Cogan, Nancy F. Heller and Kimberly S. Patmore.
Item 6: Schedule of Investments.
The schedules of investments are included as part of the report to shareholders filed under Item 1 of this Form.
Item 7: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8: Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9: Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10: Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 11: Controls and Procedures.
(a) | Based on their evaluation of Registrant’s disclosure controls and procedures, as of a date within 90 days of the filing date, Registrant’s Chief Executive Officer, Jonathan de St. Paer and Registrant’s Chief Financial Officer, Mark Fischer, have concluded that Registrant’s disclosure controls and procedures are: (i) reasonably designed to ensure that information required to be disclosed in this report is appropriately communicated to Registrant’s officers to allow timely decisions regarding disclosures required in this report; (ii) reasonably designed to ensure that information required to be disclosed in this report is recorded, processed, summarized and reported in a timely manner; and (iii) are effective in achieving the goals described in (i) and (ii) above. |
(b) | During the period covered by this report, there have been no changes in Registrant’s internal control over financial reporting that the above officers believe to have materially affected, or to be reasonably likely to materially affect, Registrant’s internal control over financial reporting. |
Item 12: Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13: Exhibits.
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Schwab Strategic Trust – Schwab U.S. REIT ETF and Schwab Fundamental Index ETFs
By: | /s/ Jonathan de St. Paer | |
Jonathan de St. Paer | ||
Chief Executive Officer | ||
Date: | April 16, 2021 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ Jonathan de St. Paer | |
Jonathan de St. Paer | ||
Chief Executive Officer | ||
Date: | April 16, 2021 |
By: | /s/ Mark Fischer | |
Mark Fischer | ||
Chief Financial Officer | ||
Date: | April 16, 2021 |