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, 2022
Item 1: Report(s) to Shareholders.
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Total Returns for the 12 Months Ended February 28, 2022 | |
Schwab U.S. REIT ETF (Ticker Symbol: SCHH) | |
Market Price Return1 | 21.53% |
NAV Return1 | 21.56% |
Dow Jones Equity All REIT Capped Index | 21.63% |
ETF Category: Morningstar Real Estate2 | 20.02% |
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 fair 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. |
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President of Schwab Asset
Management 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, Managing Director and Head of Passive Equity Strategies for Schwab Asset Management, is responsible for overseeing the investment process, portfolio management and implementation, and development of investment strategies for passive equity Schwab Funds and Schwab ETFs. Before joining Schwab 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. In this role, Mr. Bliss was responsible for overseeing a team of portfolio managers managing domestic, developed international and emerging markets index strategies. 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, CFA, Portfolio Manager, is responsible for the day-to-day co-management of the fund. Prior to joining Schwab 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 Schwab 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 Schwab 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 Return3 | 21.53% | 4.82% | 7.87% |
NAV Return3 | 21.56% | 4.81% | 7.89% |
Dow Jones Equity All REIT Capped Index2 | 21.63% | N/A | N/A |
REIT Spliced Index | 21.63% | 4.85% | 7.98% |
Dow Jones U.S. Select REIT IndexTM | 25.25% | 6.87% | 9.01% |
ETF Category: Morningstar Real Estate4 | 20.02% | 7.56% | 9.04% |
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 | The inception date of the Dow Jones Equity All REIT Capped Index is April 13, 2020. The fund began tracking the index on June 22, 2020. |
3 | 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 fair 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. |
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 | 138 |
Weighted Average Market Cap (millions) | $38,535 |
Price/Earnings Ratio (P/E) | 35.8 |
Price/Book Ratio (P/B) | 2.9 |
Portfolio Turnover Rate | 5% 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 | This list is not a recommendation of any security by the investment adviser. |
EXPENSE RATIO (ANNUALIZED) 1 | BEGINNING ACCOUNT VALUE AT 9/1/21 | ENDING ACCOUNT VALUE (NET OF EXPENSES) AT 2/28/22 | EXPENSES PAID DURING PERIOD 9/1/21-2/28/222 | |
Schwab U.S. REIT ETF | ||||
Actual Return | 0.07% | $1,000.00 | $ 965.60 | $0.34 |
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. |
3/1/21– 2/28/22 | 3/1/20– 2/28/21 | 3/1/19– 2/29/20 | 3/1/18– 2/28/19 | 3/1/17– 2/28/18 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $38.96 | $42.29 | $43.29 | $37.08 | $42.08 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.85 | 0.84 | 1.32 | 1.29 | 1.20 | |
Net realized and unrealized gains (losses) | 7.57 | (3.08) | (1.00) | 6.33 | (5.28) | |
Total from investment operations | 8.42 | (2.24) | 0.32 | 7.62 | (4.08) | |
Less distributions: | ||||||
Distributions from net investment income | (0.79) | (1.09) | (1.32) | (1.41) | (0.92) | |
Net asset value at end of period | $46.59 | $38.96 | $42.29 | $43.29 | $37.08 | |
Total return | 21.56% | (4.98%) | 0.59% | 20.85% | (9.91%) | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.07% | 0.07% | 0.07% | 0.07% | 0.07% | |
Net investment income (loss) | 1.81% | 2.33% | 2.88% | 3.17% | 2.93% | |
Portfolio turnover rate2 | 5% | 59% | 6% | 7% | 8% | |
Net assets, end of period (x 1,000) | $6,648,475 | $4,891,906 | $5,717,395 | $5,127,268 | $3,691,377 |
1 | Calculated based on the average shares outstanding during the period. |
2 | Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions. |
SECURITY | NUMBER OF SHARES | VALUE ($) |
COMMON STOCKS 99.7% OF NET ASSETS | ||
Diversified REITs 3.2% | ||
Alexander & Baldwin, Inc. | 338,405 | 7,590,424 |
American Assets Trust, Inc. | 246,024 | 8,994,637 |
Broadstone Net Lease, Inc. | 754,082 | 16,333,416 |
DigitalBridge Group, Inc. * | 2,401,017 | 17,407,373 |
Empire State Realty Trust, Inc., Class A | 659,985 | 6,243,458 |
Essential Properties Realty Trust, Inc. | 568,727 | 14,377,419 |
Global Net Lease, Inc. | 484,007 | 6,877,739 |
iStar, Inc. | 324,292 | 8,146,215 |
PS Business Parks, Inc. | 93,964 | 14,967,526 |
STORE Capital Corp. | 1,147,323 | 35,245,763 |
Washington Real Estate Investment Trust | 395,613 | 9,241,520 |
WP Carey, Inc. | 870,856 | 67,404,254 |
212,829,744 | ||
Health Care REITs 8.3% | ||
CareTrust REIT, Inc. | 454,231 | 7,949,042 |
Community Healthcare Trust, Inc. | 109,426 | 4,563,064 |
Diversified Healthcare Trust | 1,117,843 | 3,219,388 |
Global Medical REIT, Inc. | 282,184 | 4,430,289 |
Healthcare Realty Trust, Inc. | 689,315 | 17,977,335 |
Healthcare Trust of America, Inc., Class A | 1,032,470 | 30,344,293 |
Healthpeak Properties, Inc. | 2,519,873 | 78,267,255 |
LTC Properties, Inc. | 183,814 | 6,218,428 |
Medical Properties Trust, Inc. | 2,787,667 | 56,701,147 |
National Health Investors, Inc. | 214,174 | 11,417,616 |
Omega Healthcare Investors, Inc. | 1,117,352 | 31,475,806 |
Physicians Realty Trust | 1,030,420 | 16,754,629 |
Sabra Health Care REIT, Inc. | 1,069,967 | 14,369,657 |
Ventas, Inc. | 1,865,972 | 100,762,488 |
Welltower, Inc. | 2,034,738 | 169,473,328 |
553,923,765 | ||
Hotel & Resort REITs 2.9% | ||
Apple Hospitality REIT, Inc. | 993,041 | 17,566,895 |
Ashford Hospitality Trust, Inc. * | 152,267 | 1,311,019 |
Braemar Hotels & Resorts, Inc. * | 266,159 | 1,586,308 |
Chatham Lodging Trust * | 227,979 | 3,134,711 |
DiamondRock Hospitality Co. * | 984,663 | 9,403,532 |
Hersha Hospitality Trust * | 154,877 | 1,429,515 |
Host Hotels & Resorts, Inc. * | 3,337,664 | 60,979,121 |
Park Hotels & Resorts, Inc. * | 1,104,688 | 20,812,322 |
Pebblebrook Hotel Trust | 614,635 | 13,835,434 |
RLJ Lodging Trust | 778,145 | 10,886,248 |
Ryman Hospitality Properties, Inc. * | 257,582 | 22,695,550 |
Service Properties Trust | 773,341 | 6,673,933 |
Summit Hotel Properties, Inc. * | 498,453 | 4,929,700 |
Sunstone Hotel Investors, Inc. * | 1,024,528 | 10,839,506 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Xenia Hotels & Resorts, Inc. * | 533,846 | 9,897,505 |
195,981,299 | ||
Industrial REITs 12.9% | ||
Americold Realty Trust | 1,247,128 | 33,323,260 |
Duke Realty Corp. | 1,780,303 | 94,356,059 |
EastGroup Properties, Inc. | 190,186 | 36,279,881 |
First Industrial Realty Trust, Inc. | 609,056 | 35,069,444 |
Industrial Logistics Properties Trust | 305,507 | 6,834,192 |
Innovative Industrial Properties, Inc. | 111,769 | 21,063,986 |
LXP Industrial Trust | 1,322,229 | 20,441,660 |
Prologis, Inc. | 3,446,669 | 502,696,674 |
Rexford Industrial Realty, Inc. | 708,160 | 49,663,261 |
STAG Industrial, Inc. | 818,269 | 31,879,760 |
Terreno Realty Corp. | 349,891 | 24,069,002 |
855,677,179 | ||
Office REITs 7.3% | ||
Alexandria Real Estate Equities, Inc. | 659,198 | 124,852,101 |
Boston Properties, Inc. | 664,487 | 81,273,405 |
Brandywine Realty Trust | 799,679 | 10,659,721 |
City Office REIT, Inc. | 202,845 | 3,492,991 |
Corporate Office Properties Trust | 525,593 | 13,775,792 |
Cousins Properties, Inc. | 695,203 | 26,855,692 |
Douglas Emmett, Inc. | 820,508 | 26,010,104 |
Easterly Government Properties, Inc. | 402,883 | 8,388,024 |
Equity Commonwealth * | 565,522 | 15,025,920 |
Highwoods Properties, Inc. | 487,638 | 21,261,017 |
Hudson Pacific Properties, Inc. | 712,857 | 18,819,425 |
JBG SMITH Properties | 533,994 | 14,246,960 |
Kilroy Realty Corp. | 489,999 | 35,093,728 |
Office Properties Income Trust | 226,026 | 5,661,951 |
Paramount Group, Inc. | 765,868 | 8,570,063 |
Piedmont Office Realty Trust, Inc., Class A | 580,149 | 9,885,739 |
SL Green Realty Corp. | 312,032 | 24,812,785 |
Veris Residential, Inc. * | 374,882 | 6,335,506 |
Vornado Realty Trust | 743,266 | 32,168,552 |
487,189,476 | ||
Residential REITs 16.2% | ||
American Campus Communities, Inc. | 650,526 | 35,004,804 |
American Homes 4 Rent, Class A | 1,326,104 | 50,405,213 |
Apartment Income REIT Corp. | 733,850 | 37,873,999 |
Apartment Investment & Management Co., Class A * | 709,596 | 5,066,515 |
AvalonBay Communities, Inc. | 653,226 | 155,853,191 |
Camden Property Trust | 477,731 | 78,878,165 |
Centerspace | 66,800 | 6,278,532 |
Equity LifeStyle Properties, Inc. | 799,121 | 59,630,409 |
Equity Residential | 1,595,257 | 136,075,422 |
Essex Property Trust, Inc. | 304,267 | 96,504,364 |
Independence Realty Trust, Inc. | 488,458 | 12,343,334 |
Invitation Homes, Inc. | 2,789,702 | 105,450,736 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Mid-America Apartment Communities, Inc. | 538,225 | 110,126,217 |
NexPoint Residential Trust, Inc. | 106,376 | 9,038,769 |
Preferred Apartment Communities, Inc. | 247,748 | 6,258,115 |
Sun Communities, Inc. | 542,133 | 98,126,073 |
UDR, Inc. | 1,358,557 | 74,544,023 |
1,077,457,881 | ||
Retail REITs 11.7% | ||
Acadia Realty Trust | 413,997 | 8,876,096 |
Agree Realty Corp. | 326,025 | 20,914,504 |
Brixmor Property Group, Inc. | 1,388,337 | 34,875,025 |
Federal Realty Investment Trust | 327,265 | 38,479,819 |
Getty Realty Corp. | 183,911 | 5,066,748 |
InvenTrust Properties Corp. | 314,852 | 8,170,409 |
Kimco Realty Corp. | 2,881,542 | 67,802,683 |
Kite Realty Group Trust | 1,023,131 | 22,437,263 |
National Retail Properties, Inc. | 821,035 | 34,984,301 |
NETSTREIT Corp. | 184,706 | 4,089,391 |
Phillips Edison & Co., Inc. | 91,687 | 2,963,324 |
Realty Income Corp. | 2,644,774 | 174,793,114 |
Regency Centers Corp. | 720,313 | 47,461,423 |
Retail Opportunity Investments Corp. | 567,426 | 10,304,456 |
RPT Realty | 392,763 | 5,086,281 |
Seritage Growth Properties, Class A * | 168,998 | 1,722,090 |
Simon Property Group, Inc. | 1,536,110 | 211,307,292 |
SITE Centers Corp. | 840,267 | 13,066,152 |
Spirit Realty Capital, Inc. | 576,563 | 26,735,226 |
Tanger Factory Outlet Centers, Inc. | 486,779 | 8,119,474 |
The Macerich Co. | 996,418 | 15,245,195 |
The Necessity Retail REIT, Inc. | 575,620 | 4,052,365 |
Urban Edge Properties | 514,734 | 9,378,453 |
775,931,084 | ||
Specialized REITs 37.2% | ||
American Tower Corp. | 2,123,109 | 481,669,739 |
Crown Castle International Corp. | 2,014,916 | 335,664,856 |
CubeSmart | 1,013,439 | 48,857,894 |
CyrusOne, Inc. | 593,282 | 53,603,029 |
Digital Realty Trust, Inc. | 1,326,610 | 178,986,221 |
EPR Properties | 349,776 | 17,418,845 |
Equinix, Inc. | 401,762 | 285,142,544 |
Extra Space Storage, Inc. | 625,895 | 117,762,144 |
Four Corners Property Trust, Inc. | 361,615 | 9,539,404 |
Gaming & Leisure Properties, Inc. | 1,058,559 | 48,069,164 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Gladstone Land Corp. | 145,046 | 4,335,425 |
Iron Mountain, Inc. | 1,353,578 | 66,568,966 |
Lamar Advertising Co., Class A | 405,838 | 44,260,692 |
Life Storage, Inc. | 383,435 | 48,539,037 |
National Storage Affiliates Trust | 383,269 | 22,333,085 |
Outfront Media, Inc. | 680,926 | 18,180,724 |
PotlatchDeltic Corp. | 313,727 | 17,223,612 |
Public Storage | 713,151 | 253,182,868 |
Rayonier, Inc. | 669,424 | 26,576,133 |
Safehold, Inc. | 65,885 | 4,042,704 |
SBA Communications Corp. | 508,510 | 154,276,849 |
The GEO Group, Inc. * | 571,150 | 3,404,054 |
Uniti Group, Inc. | 1,102,130 | 14,294,626 |
VICI Properties, Inc. | 2,940,199 | 82,207,964 |
Weyerhaeuser Co. | 3,501,487 | 136,137,815 |
2,472,278,394 | ||
Total Common Stocks (Cost $5,628,610,161) | 6,631,268,822 |
SHORT-TERM INVESTMENTS 0.1% OF NET ASSETS | ||
Money Market Funds 0.1% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (a) | 4,221,708 | 4,221,708 |
Total Short-Term Investments (Cost $4,221,708) | 4,221,708 | |
Total Investments in Securities (Cost $5,632,831,869) | 6,635,490,530 |
NUMBER OF CONTRACTS | NOTIONAL AMOUNT ($) | CURRENT VALUE/ UNREALIZED DEPRECIATION ($) | |
FUTURES CONTRACTS | |||
Long | |||
Dow Jones U.S. Real Estate Index, expires 03/18/22 | 434 | 17,160,360 | (159,131) |
* | 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 |
Asset | ||||
Common Stocks1 | $6,631,268,822 | $— | $— | $6,631,268,822 |
Short-Term Investments1 | 4,221,708 | — | — | 4,221,708 |
Liabilities | ||||
Futures Contracts2 | (159,131) | — | — | (159,131) |
Total | $6,635,331,399 | $— | $— | $6,635,331,399 |
1 | As categorized in the Portfolio Holdings. |
2 | Futures contracts are reported at cumulative unrealized appreciation or depreciation. |
Assets | ||
Investments in securities, at value - unaffiliated (cost $5,632,831,869) | $6,635,490,530 | |
Cash | 9,671,970 | |
Deposit with broker for futures contracts | 871,699 | |
Receivables: | ||
Investments sold | 4,637,184 | |
Dividends | + | 3,076,998 |
Total assets | 6,653,748,381 | |
Liabilities | ||
Payables: | ||
Fund shares redeemed | 4,659,057 | |
Management fees | 358,541 | |
Variation margin on futures contracts | + | 256,190 |
Total liabilities | 5,273,788 | |
Net assets | $6,648,474,593 | |
Net Assets by Source | ||
Capital received from investors | $6,570,249,837 | |
Total distributable earnings | + | 78,224,756 |
Net assets | $6,648,474,593 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$6,648,474,593 | 142,700,000 | $46.59 | ||
For the period March 1, 2021 through February 28, 2022 | ||
Investment Income | ||
Dividends received from securities - unaffiliated | $116,998,756 | |
Securities on loan, net | + | 8,747 |
Total investment income | 117,007,503 | |
Expenses | ||
Management fees | 4,356,629 | |
Total expenses | – | 4,356,629 |
Net investment income | 112,650,874 | |
REALIZED AND UNREALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - unaffiliated | 51,639,682 | |
Net realized gains on sales of in-kind redemptions - unaffiliated | 86,840,809 | |
Net realized gains on futures contracts | + | 2,440,689 |
Net realized gains | 140,921,180 | |
Net change in unrealized appreciation (depreciation) on securities - unaffiliated | 808,967,965 | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (52,683) |
Net change in unrealized appreciation (depreciation) | + | 808,915,282 |
Net realized and unrealized gains | 949,836,462 | |
Increase in net assets resulting from operations | $1,062,487,336 |
OPERATIONS | |||
3/1/21-2/28/22 | 3/1/20-2/28/21 | ||
Net investment income | $112,650,874 | $105,906,627 | |
Net realized gains (losses) | 140,921,180 | (613,991,983) | |
Net change in unrealized appreciation (depreciation) | + | 808,915,282 | 150,444,259 |
Increase (decrease) in net assets resulting from operations | $1,062,487,336 | ($357,641,097) | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Total distributions | ($105,641,785) | ($134,110,850) |
TRANSACTIONS IN FUND SHARES | |||||
3/1/21-2/28/22 | 3/1/20-2/28/21 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 23,550,000 | $1,103,067,576 | 40,350,000 | $1,438,051,306 | |
Shares redeemed | + | (6,400,000) | (303,344,302) | (50,000,000) | (1,771,789,053) |
Net transactions in fund shares | 17,150,000 | $799,723,274 | (9,650,000) | ($333,737,747) | |
SHARES OUTSTANDING AND NET ASSETS | |||||
3/1/21-2/28/22 | 3/1/20-2/28/21 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 125,550,000 | $4,891,905,768 | 135,200,000 | $5,717,395,462 | |
Total increase (decrease) | + | 17,150,000 | 1,756,568,825 | (9,650,000) | (825,489,694) |
End of period | 142,700,000 | $6,648,474,593 | 125,550,000 | $4,891,905,768 |
SCHWAB STRATEGIC TRUST (ORGANIZED JANUARY 27, 2009) | |
Schwab U.S. REIT 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 | Schwab Fundamental U.S. Broad Market Index ETF |
Schwab U.S. Dividend Equity ETF | Schwab Fundamental U.S. Large Company Index ETF |
Schwab International 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 Ariel ESG ETF |
UNDERLYING FUND | |
Schwab MarketTrack All Equity Portfolio | 0.6% |
Schwab MarketTrack Balanced Portfolio | 0.3% |
Schwab MarketTrack Conservative Portfolio | 0.1% |
Schwab MarketTrack Growth Portfolio | 0.5% |
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 | 0.3% |
Schwab Target 2030 Index Fund | 0.5% |
Schwab Target 2035 Index Fund | 0.4% |
Schwab Target 2040 Index Fund | 0.5% |
Schwab Target 2045 Index Fund | 0.3% |
Schwab Target 2050 Index Fund | 0.4% |
Schwab Target 2055 Index Fund | 0.3% |
Schwab Target 2060 Index Fund | 0.3% |
Schwab Target 2065 Index Fund | 0.0%* |
Schwab VIT Balanced Portfolio | 0.1% |
Schwab VIT Balanced with Growth Portfolio | 0.2% |
Schwab VIT Growth Portfolio | 0.2% |
* | Less than 0.05% |
8. Derivatives: |
PURCHASES OF SECURITIES | SALES OF SECURITIES |
$441,372,720 | $297,738,782 |
IN-KIND PURCHASES OF SECURITIES | IN-KIND SALES OF SECURITIES |
$1,066,319,218 | $270,078,882 |
TAX COST | GROSS UNREALIZED APPRECIATION | GROSS UNREALIZED DEPRECIATION | NET UNREALIZED APPRECIATION (DEPRECIATION) |
$5,684,924,648 | $1,181,807,831 | ($231,401,080) | $950,406,751 |
UNDISTRIBUTED ORDINARY INCOME | NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS | CAPITAL LOSS CARRYFORWARDS | TOTAL |
$5,460,881 | $950,406,751 | ($877,642,876) | $78,224,756 |
CURRENT FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS | |
ORDINARY INCOME | ORDINARY INCOME | |
$105,641,785 | $134,110,850 |
Denver, Colorado
April 18, 2022
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. | 103 | None |
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. | 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 – 2021), 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 |
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. | 103 | Director (2008 – present), KLA-Tencor Corporation |
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 |
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 |
J. Derek Penn 1957 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2021) | Head of Equity Sales and Trading (2006 – 2018), BNY Mellon (financial services). | 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 and Chief Executive Officer (Oct. 2008 – present) and President (Feb. 2007 – Oct. 2021), The Charles Schwab Corporation; President and Chief Executive Officer (Oct. 2008 – Oct. 2021) and Director (May 2008 – Oct. 2021), 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 – Oct. 2021), 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), The Charles Schwab Corporation; Senior Executive Vice President (July 2015 – present), Charles Schwab & Co., Inc.; Director (May 2007 – present), Charles Schwab & Co., Inc.; Director (Apr. 2010 – Apr. 2020), Charles Schwab Bank, SSB; Director (Nov. 2017 – Apr. 2020), Charles Schwab Premier Bank, SSB; Director (May 2007 – Apr. 2020), and Senior Executive Vice President (Feb. 2016 – present), 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 – Mar. 2022) and Chief Operating Officer (Jan. 2020 – Mar. 2022), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (Apr. 2019 – present), President (Nov. 2018 – present) and Trustee (Apr. 2019 – Dec. 2020), Schwab Funds, Laudus Trust and Schwab ETFs; Director (Apr. 2019 – Apr. 2022), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), and Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), 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 Trust and Schwab ETFs; Chief Financial Officer (Mar. 2020 – present) and Vice President (Oct. 2013 – present), Charles Schwab Investment Management, Inc.; Director (July 2020 – Apr. 2022), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited. |
Omar Aguilar 1970 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Chief Executive Officer (Jan. 2022 – present) and Chief Investment Officer (Apr. 2011 – present), Senior Vice President (Apr. 2011 – Dec. 2021), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2011 – present), Schwab Funds, Laudus Trust and Schwab ETFs. |
Brett Wander 1961 Vice President and Chief Investment Officer (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.; Vice President and Chief Investment Officer (June 2011 – present), Schwab Funds, Laudus Trust and Schwab ETFs. |
William P. McMahon, Jr. 1972 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2021) | Senior Vice President and Chief Investment Officer (Jan. 2020 – present), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2021 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Senior Vice President and Chief Investment Officer – ThomasPartners Strategies (Apr. 2018 – Dec. 2019), Charles Schwab Investment Advisory, Inc.; Senior Vice President and Chief Investment Officer (May 2001 – Apr. 2018), ThomasPartners, Inc. |
Catherine MacGregor 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Trust (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) | Chief Legal Officer (Mar. 2022 – present) and Vice President (Sept. 2005 – present), Charles Schwab Investment Management, Inc.; Vice President (July 2005 – present), Charles Schwab & Co., Inc.; Vice President (Dec. 2005 – present) and Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Trust; Chief Legal Officer and Secretary (Oct. 2021 – present), Vice President (Nov. 2005 – Oct. 2021) and Assistant Secretary (June 2007 – Oct. 2021), Schwab Funds; Chief Legal Officer and Secretary (Oct. 2021 – present), Vice President and Assistant Secretary (Oct. 2009 – Oct. 2021), 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., the investment adviser for the trusts in the Fund Complex, and is an employee of Charles Schwab & Co., Inc. (Schwab), the principal underwriter for The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust. Mr. Martinetto is an Interested Trustee because he owns stock of CSC and is an employee and director of Schwab. |
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. |
• | You may have to pay more money to trade the fund’s shares. This fund will provide less information to traders, who tend to charge more for trades when they have less information. |
• | The price you pay to buy fund shares on an exchange may not match the value of the fund’s portfolio. The same is true when you sell shares. These price differences may be greater for this fund compared to other ETFs because it provides less information to traders. |
• | These additional risks may be even greater in bad or uncertain market conditions. |
• | The ETF will publish on its website each day a “Proxy Portfolio” designed to help trading in shares of the ETF. While the Proxy Portfolio includes some of the ETF’s holdings, it is not the ETF’s actual portfolio. |
![(CHARLES SCHWAB ASSET MANAGMENT LOGO)](https://capedge.com/proxy/N-CSR/0001193125-22-138626/g892409img90b469ab1.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, 2022 | |
Schwab Fundamental U.S. Broad Market Index ETF (Ticker Symbol: FNDB) | |
Market Price Return1 | 18.71% |
NAV Return1 | 18.80% |
Russell RAFITM US Index | 19.09% |
Russell 3000® Index | 12.29% |
ETF Category: Morningstar Large Value2 | 17.20% |
Performance Details | pages 8-10 |
Schwab Fundamental U.S. Large Company Index ETF (Ticker Symbol: FNDX) | |
Market Price Return1 | 19.62% |
NAV Return1 | 19.61% |
Russell RAFITM US Large Company Index | 19.90% |
Russell 1000® Index | 13.72% |
ETF Category: Morningstar Large Value2 | 17.20% |
Performance Details | pages 11-13 |
Schwab Fundamental U.S. Small Company Index ETF (Ticker Symbol: FNDA) | |
Market Price Return1 | 10.01% |
NAV Return1 | 10.06% |
Russell RAFITM US Small Company Index | 10.32% |
Russell 2000® Index | -6.01% |
ETF Category: Morningstar Small Blend2 | 3.98% |
Performance Details | pages 14-16 |
Total Returns for the 12 Months Ended February 28, 2022 | |
Schwab Fundamental International Large Company Index ETF (Ticker Symbol: FNDF) | |
Market Price Return1 | 7.40% |
NAV Return1 | 7.95% |
Russell RAFITM Developed ex US Large Company Index (Net)* | 8.00% |
MSCI EAFE® Index (Net)* | 2.83% |
ETF Category: Morningstar Foreign Large Value2 | 5.90% |
Performance Details | pages 17-19 |
Schwab Fundamental International Small Company Index ETF (Ticker Symbol: FNDC) | |
Market Price Return1 | 1.61% |
NAV Return1 | 1.86% |
Russell RAFITM Developed ex US Small Company Index (Net)* | 2.17% |
S&P Developed ex-U.S. Small Cap Index (Net)* | -2.47% |
ETF Category: Morningstar Foreign Small/Mid Value2 | 5.44% |
Performance Details | pages 20-22 |
Schwab Fundamental Emerging Markets Large Company Index ETF (Ticker Symbol: FNDE) | |
Market Price Return1 | 5.31% |
NAV Return1 | 2.97% |
Russell RAFITM Emerging Markets Large Company Index (Net)* | 6.51% |
MSCI Emerging Markets Index (Net)* | -10.69% |
ETF Category: Morningstar Diversified Emerging Markets2 | -9.68% |
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 fair 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/0001193125-22-138626/g892409img8863df992.jpg)
President of Schwab Asset
Management and the funds
covered in this report.
![](https://capedge.com/proxy/N-CSR/0001193125-22-138626/g892409img803f03593.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/0001193125-22-138626/g892409imgd76d7a6f4.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, Managing Director and Head of Passive Equity Strategies for Schwab Asset Management, is responsible for overseeing the investment process, portfolio management and implementation, and development of investment strategies for passive equity Schwab Funds and Schwab ETFs. Before joining Schwab 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. In this role, Mr. Bliss was responsible for overseeing a team of portfolio managers managing domestic, developed international and emerging markets index strategies. 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, CFA, 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 Schwab 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 Schwab 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 Schwab 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 Schwab 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 equity index strategies team for four years. His first role with Schwab Asset Management was as a trade operations specialist. Prior to joining Schwab 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 Schwab 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/0001193125-22-138626/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 | 18.71% | 13.20% | 12.33% |
NAV Return2 | 18.80% | 13.21% | 12.33% |
Russell RAFITM US Index | 19.09% | 13.46% | 12.62% |
Russell 3000® Index | 12.29% | 14.68% | 13.56% |
ETF Category: Morningstar Large Value3 | 17.20% | 10.17% | 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 fair 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) | $308,061 |
Price/Earnings Ratio (P/E) | 14.8 |
Price/Book Ratio (P/B) | 2.4 |
Portfolio Turnover Rate | 13% 2 |
![](https://capedge.com/proxy/N-CSR/0001193125-22-138626/g892409imgb562735312.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-22-138626/g892409imgbc64777d13.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/0001193125-22-138626/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 | 19.62% | 13.43% | 12.45% |
NAV Return2 | 19.61% | 13.43% | 12.45% |
Russell RAFITM US Large Company Index | 19.90% | 13.68% | 12.75% |
Russell 1000® Index | 13.72% | 15.07% | 13.87% |
ETF Category: Morningstar Large Value3 | 17.20% | 10.17% | 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 fair 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 | 718 |
Weighted Average Market Cap (millions) | $332,224 |
Price/Earnings Ratio (P/E) | 14.7 |
Price/Book Ratio (P/B) | 2.5 |
Portfolio Turnover Rate | 11% 2 |
![](https://capedge.com/proxy/N-CSR/0001193125-22-138626/g892409imgacc31c6314.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-22-138626/g892409img997fe3b315.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/0001193125-22-138626/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 | 10.01% | 10.30% | 10.70% |
NAV Return2 | 10.06% | 10.29% | 10.69% |
Russell RAFITM US Small Company Index | 10.32% | 10.47% | 10.94% |
Russell 2000® Index | -6.01% | 9.50% | 9.60% |
ETF Category: Morningstar Small Blend3 | 3.98% | 9.36% | 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 fair 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 | 908 |
Weighted Average Market Cap (millions) | $5,976 |
Price/Earnings Ratio (P/E) | 15.6 |
Price/Book Ratio (P/B) | 2.0 |
Portfolio Turnover Rate | 25% 2 |
![](https://capedge.com/proxy/N-CSR/0001193125-22-138626/g892409img77ce027416.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-22-138626/g892409imgad6cb80317.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/0001193125-22-138626/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 | 7.40% | 7.42% | 5.52% |
NAV Return2 | 7.95% | 7.52% | 5.57% |
Russell RAFITM Developed ex US Large Company Index (Net)3 | 8.00% | 7.54% | 5.69% |
MSCI EAFE® Index (Net)3 | 2.83% | 7.16% | 5.07% |
ETF Category: Morningstar Foreign Large Value4 | 5.90% | 5.47% | 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 fair 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 | 925 |
Weighted Average Market Cap (millions) | $70,855 |
Price/Earnings Ratio (P/E) | 10.3 |
Price/Book Ratio (P/B) | 1.2 |
Portfolio Turnover Rate | 15% 2 |
![](https://capedge.com/proxy/N-CSR/0001193125-22-138626/g892409img62c3b91b18.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-22-138626/g892409img0d4d3ffc19.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-22-138626/g892409imgf44c6f1120.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/0001193125-22-138626/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 | 1.61% | 6.07% | 6.32% |
NAV Return2 | 1.86% | 6.10% | 6.35% |
Russell RAFITM Developed ex US Small Company Index (Net)3 | 2.17% | 6.30% | 6.71% |
S&P Developed ex-U.S. Small Cap Index (Net)3 | -2.47% | 7.47% | 6.76% |
ETF Category: Morningstar Foreign Small/Mid Value4 | 5.44% | 6.12% | 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 fair 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 | 1,632 |
Weighted Average Market Cap (millions) | $3,859 |
Price/Earnings Ratio (P/E) | 10.7 |
Price/Book Ratio (P/B) | 1.1 |
Portfolio Turnover Rate | 28% 2 |
![](https://capedge.com/proxy/N-CSR/0001193125-22-138626/g892409img4387bcee21.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-22-138626/g892409imgd44e763e22.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-22-138626/g892409img907da1e523.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. |
2 | Fair valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees (see financial note 2(a) for additional information). |
![](https://capedge.com/proxy/N-CSR/0001193125-22-138626/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 | 5.31% | 6.07% | 4.58% |
NAV Return2 | 2.97% | 5.55% | 4.34% |
Russell RAFITM Emerging Markets Large Company Index (Net)3 | 6.51% | 6.76% | 5.30% |
MSCI Emerging Markets Index (Net)3 | -10.69% | 6.99% | 4.61% |
ETF Category: Morningstar Diversified Emerging Markets4 | -9.68% | 6.68% | 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 fair 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 | 328 |
Weighted Average Market Cap (millions) | $85,115 |
Price/Earnings Ratio (P/E) | 7.7 |
Price/Book Ratio (P/B) | 1.2 |
Portfolio Turnover Rate | 20% 2 |
![](https://capedge.com/proxy/N-CSR/0001193125-22-138626/g892409img5b11bdf024.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-22-138626/g892409imge7ee8e4b25.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-22-138626/g892409img2ede9e6d26.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 9/1/21 | ENDING ACCOUNT VALUE (NET OF EXPENSES) AT 2/28/22 | EXPENSES PAID DURING PERIOD 9/1/21-2/28/222 | |
Schwab Fundamental U.S. Broad Market Index ETF | ||||
Actual Return | 0.25% | $1,000.00 | $1,022.90 | $1.25 |
Hypothetical 5% Return | 0.25% | $1,000.00 | $1,023.55 | $1.25 |
Schwab Fundamental U.S. Large Company Index ETF | ||||
Actual Return | 0.25% | $1,000.00 | $1,025.80 | $1.26 |
Hypothetical 5% Return | 0.25% | $1,000.00 | $1,023.55 | $1.25 |
Schwab Fundamental U.S. Small Company Index ETF | ||||
Actual Return | 0.25% | $1,000.00 | $ 989.60 | $1.23 |
Hypothetical 5% Return | 0.25% | $1,000.00 | $1,023.55 | $1.25 |
Schwab Fundamental International Large Company Index ETF | ||||
Actual Return | 0.25% | $1,000.00 | $ 998.30 | $1.24 |
Hypothetical 5% Return | 0.25% | $1,000.00 | $1,023.55 | $1.25 |
Schwab Fundamental International Small Company Index ETF | ||||
Actual Return | 0.39% | $1,000.00 | $ 919.30 | $1.86 |
Hypothetical 5% Return | 0.39% | $1,000.00 | $1,022.86 | $1.96 |
Schwab Fundamental Emerging Markets Large Company Index ETF | ||||
Actual Return | 0.39% | $1,000.00 | $ 932.40 | $1.87 |
Hypothetical 5% Return | 0.39% | $1,000.00 | $1,022.86 | $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. |
3/1/21– 2/28/22 | 3/1/20– 2/28/21 | 3/1/19– 2/29/20 | 3/1/18– 2/28/19 | 3/1/17– 2/28/18 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $48.26 | $37.17 | $37.60 | $36.95 | $33.82 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.98 | 0.92 | 0.94 | 0.84 | 0.75 | |
Net realized and unrealized gains (losses) | 8.04 | 11.13 | (0.43) | 0.62 | 3.09 | |
Total from investment operations | 9.02 | 12.05 | 0.51 | 1.46 | 3.84 | |
Less distributions: | ||||||
Distributions from net investment income | (0.94) | (0.96) | (0.94) | (0.81) | (0.71) | |
Net asset value at end of period | $56.34 | $48.26 | $37.17 | $37.60 | $36.95 | |
Total return | 18.80% | 33.35% | 1.25% | 3.98% | 11.51% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | |
Net investment income (loss) | 1.79% | 2.36% | 2.38% | 2.26% | 2.14% | |
Portfolio turnover rate2 | 13% | 14% | 13% | 11% | 10% | |
Net assets, end of period (x 1,000) | $425,341 | $284,726 | $262,018 | $276,382 | $260,469 |
1 | Calculated based on the average shares outstanding during the period. |
2 | Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions. |
SECURITY | NUMBER OF SHARES | VALUE ($) |
COMMON STOCKS 99.7% OF NET ASSETS | ||
Automobiles & Components 1.6% | ||
Adient plc * | 3,093 | 138,412 |
American Axle & Manufacturing Holdings, Inc. * | 7,666 | 70,987 |
Aptiv plc * | 2,290 | 296,418 |
Autoliv, Inc. | 1,623 | 142,840 |
BorgWarner, Inc. | 5,959 | 244,379 |
Cooper-Standard Holding, Inc. * | 2,157 | 27,437 |
Dana, Inc. | 4,520 | 84,162 |
Dorman Products, Inc. * | 308 | 28,773 |
Ford Motor Co. | 139,995 | 2,458,312 |
Fox Factory Holding Corp. * | 116 | 13,690 |
General Motors Co. * | 40,775 | 1,905,008 |
Gentex Corp. | 3,888 | 117,690 |
Gentherm, Inc. * | 415 | 35,209 |
Harley-Davidson, Inc. | 3,670 | 151,571 |
LCI Industries | 357 | 44,454 |
Lear Corp. | 2,116 | 332,931 |
Modine Manufacturing Co. * | 1,984 | 20,038 |
Patrick Industries, Inc. | 343 | 24,470 |
Standard Motor Products, Inc. | 577 | 25,221 |
Stoneridge, Inc. * | 621 | 10,253 |
Tenneco, Inc., Class A * | 5,232 | 100,873 |
Tesla, Inc. * | 134 | 116,638 |
The Goodyear Tire & Rubber Co. * | 20,146 | 312,062 |
Thor Industries, Inc. | 1,159 | 104,889 |
Veoneer, Inc. * | 590 | 20,915 |
Visteon Corp. * | 1,222 | 146,848 |
Winnebago Industries, Inc. | 492 | 31,522 |
7,006,002 | ||
Banks 7.2% | ||
Ameris Bancorp | 280 | 13,860 |
Associated Banc-Corp. | 2,298 | 56,048 |
Atlantic Union Bankshares Corp. | 584 | 23,728 |
Axos Financial, Inc. * | 361 | 19,761 |
Bank of America Corp. | 106,233 | 4,695,499 |
Bank of Hawaii Corp. | 495 | 42,659 |
Bank OZK | 1,152 | 54,167 |
BankUnited, Inc. | 1,388 | 61,350 |
Banner Corp. | 437 | 26,924 |
Berkshire Hills Bancorp, Inc. | 579 | 18,007 |
BOK Financial Corp. | 337 | 34,610 |
Brookline Bancorp, Inc. | 865 | 14,826 |
Cadence Bank | 1,887 | 59,667 |
Capitol Federal Financial, Inc. | 1,969 | 21,502 |
Cathay General Bancorp | 889 | 41,810 |
Central Pacific Financial Corp. | 595 | 17,368 |
Citigroup, Inc. | 64,979 | 3,848,706 |
Citizens Financial Group, Inc. | 7,359 | 385,759 |
City Holding Co. | 135 | 10,755 |
Columbia Banking System, Inc. | 807 | 29,560 |
Comerica, Inc. | 2,966 | 283,223 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Commerce Bancshares, Inc. | 747 | 53,620 |
Community Bank System, Inc. | 338 | 24,654 |
Credicorp Ltd. | 1,616 | 244,420 |
Cullen/Frost Bankers, Inc. | 479 | 67,410 |
CVB Financial Corp. | 1,122 | 26,457 |
Eagle Bancorp, Inc. | 279 | 16,718 |
East West Bancorp, Inc. | 1,095 | 95,878 |
Essent Group Ltd. | 767 | 33,886 |
F.N.B. Corp. | 4,639 | 62,302 |
Federal Agricultural Mortgage Corp., Class C | 159 | 19,668 |
Fifth Third Bancorp | 11,305 | 540,831 |
First BanCorp | 1,902 | 26,856 |
First Busey Corp. | 516 | 14,164 |
First Citizens BancShares, Inc., Class A | 227 | 178,978 |
First Commonwealth Financial Corp. | 1,115 | 18,007 |
First Financial Bancorp | 998 | 24,531 |
First Financial Bankshares, Inc. | 372 | 17,826 |
First Hawaiian, Inc. | 1,849 | 53,750 |
First Horizon Corp. | 3,695 | 86,759 |
First Interstate BancSystem, Inc., Class A | 1,175 | 47,705 |
First Merchants Corp. | 418 | 18,283 |
First Republic Bank | 532 | 92,174 |
Flagstar Bancorp, Inc. | 593 | 27,029 |
Fulton Financial Corp. | 2,446 | 44,077 |
Glacier Bancorp, Inc. | 559 | 30,969 |
Hancock Whitney Corp. | 968 | 53,898 |
Hanmi Financial Corp. | 551 | 14,392 |
Heartland Financial USA, Inc. | 286 | 14,191 |
Hilltop Holdings, Inc. | 738 | 22,819 |
Home BancShares, Inc. | 1,573 | 36,824 |
Hope Bancorp, Inc. | 1,918 | 32,529 |
Huntington Bancshares, Inc. | 16,073 | 249,453 |
Independent Bank Corp. | 218 | 18,750 |
Independent Bank Group, Inc. | 179 | 13,810 |
International Bancshares Corp. | 638 | 27,440 |
Investors Bancorp, Inc. | 4,042 | 67,663 |
JPMorgan Chase & Co. | 42,042 | 5,961,556 |
KeyCorp | 12,185 | 305,478 |
M&T Bank Corp. | 2,630 | 479,265 |
MGIC Investment Corp. | 5,110 | 77,570 |
National Bank Holdings Corp., Class A | 315 | 13,980 |
NBT Bancorp, Inc. | 543 | 20,835 |
New York Community Bancorp, Inc. | 7,315 | 84,415 |
Northwest Bancshares, Inc. | 1,314 | 18,501 |
OFG Bancorp | 738 | 20,797 |
Old National Bancorp | 3,476 | 63,541 |
Pacific Premier Bancorp, Inc. | 312 | 12,078 |
PacWest Bancorp | 1,989 | 98,296 |
Park National Corp. | 143 | 19,171 |
PennyMac Financial Services, Inc. | 267 | 15,419 |
People's United Financial, Inc. | 4,546 | 95,830 |
Pinnacle Financial Partners, Inc. | 362 | 36,591 |
Popular, Inc. | 1,165 | 107,005 |
Prosperity Bancshares, Inc. | 671 | 49,963 |
Provident Financial Services, Inc. | 865 | 20,526 |
Radian Group, Inc. | 3,156 | 75,428 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Regions Financial Corp. | 12,140 | 293,667 |
Renasant Corp. | 506 | 18,474 |
S&T Bancorp, Inc. | 479 | 14,892 |
Sandy Spring Bancorp, Inc. | 346 | 16,293 |
ServisFirst Bancshares, Inc. | 197 | 17,214 |
Signature Bank | 257 | 88,637 |
Simmons First National Corp., Class A | 972 | 27,721 |
Southside Bancshares, Inc. | 275 | 11,465 |
SouthState Corp. | 379 | 34,110 |
SVB Financial Group * | 183 | 110,898 |
Synovus Financial Corp. | 1,595 | 83,977 |
Texas Capital Bancshares, Inc. * | 489 | 32,567 |
The Bank of NT Butterfield & Son Ltd. | 567 | 21,773 |
The PNC Financial Services Group, Inc. | 5,856 | 1,166,808 |
Tompkins Financial Corp. | 139 | 10,995 |
Towne Bank | 545 | 16,993 |
Truist Financial Corp. | 10,296 | 640,617 |
Trustmark Corp. | 928 | 29,223 |
U.S. Bancorp | 22,611 | 1,278,426 |
UMB Financial Corp. | 313 | 31,882 |
Umpqua Holdings Corp. | 3,461 | 73,892 |
United Bankshares, Inc. | 1,068 | 39,110 |
United Community Banks, Inc. | 593 | 22,925 |
Valley National Bancorp | 3,378 | 47,191 |
Walker & Dunlop, Inc. | 312 | 43,165 |
Washington Federal, Inc. | 1,383 | 49,207 |
Webster Financial Corp. | 1,673 | 100,731 |
Wells Fargo & Co. | 113,356 | 6,049,810 |
WesBanco, Inc. | 639 | 23,349 |
Westamerica BanCorp | 207 | 12,279 |
Western Alliance Bancorp | 366 | 34,309 |
Wintrust Financial Corp. | 550 | 54,648 |
WSFS Financial Corp. | 307 | 15,605 |
Zions Bancorp NA | 2,731 | 193,601 |
30,461,209 | ||
Capital Goods 7.3% | ||
3M Co. | 7,996 | 1,188,605 |
A.O. Smith Corp. | 1,459 | 100,058 |
AAON, Inc. | 225 | 13,176 |
AAR Corp. * | 939 | 42,199 |
Acuity Brands, Inc. | 706 | 128,753 |
Advanced Drainage Systems, Inc. | 145 | 16,924 |
AECOM | 2,916 | 211,877 |
AerCap Holdings N.V. * | 4,204 | 228,824 |
Aerojet Rocketdyne Holdings, Inc. | 582 | 22,553 |
AGCO Corp. | 1,076 | 129,292 |
Air Lease Corp. | 1,584 | 66,148 |
Alamo Group, Inc. | 131 | 18,223 |
Albany International Corp., Class A | 317 | 27,839 |
Allegion plc | 608 | 69,628 |
Allison Transmission Holdings, Inc. | 3,800 | 151,772 |
Altra Industrial Motion Corp. | 485 | 20,598 |
American Woodmark Corp. * | 365 | 19,557 |
AMETEK, Inc. | 1,430 | 185,600 |
API Group Corp. * | 1,272 | 27,437 |
Apogee Enterprises, Inc. | 788 | 35,515 |
Applied Industrial Technologies, Inc. | 619 | 62,581 |
Arcosa, Inc. | 979 | 51,564 |
Argan, Inc. | 397 | 15,439 |
Armstrong World Industries, Inc. | 450 | 39,780 |
Astec Industries, Inc. | 435 | 21,663 |
Astronics Corp. * | 1,066 | 15,681 |
Atkore, Inc. * | 255 | 25,936 |
AZZ, Inc. | 525 | 25,846 |
Barnes Group, Inc. | 958 | 44,499 |
Beacon Roofing Supply, Inc. * | 988 | 58,974 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Boise Cascade Co. | 1,166 | 93,210 |
Builders FirstSource, Inc. * | 1,393 | 103,667 |
BWX Technologies, Inc. | 955 | 51,016 |
Carlisle Cos., Inc. | 772 | 183,273 |
Carrier Global Corp. | 12,674 | 568,809 |
Caterpillar, Inc. | 6,182 | 1,159,620 |
Chart Industries, Inc. * | 121 | 17,472 |
CIRCOR International, Inc. * | 421 | 11,342 |
Colfax Corp. * | 1,265 | 50,866 |
Columbus McKinnon Corp. | 316 | 14,422 |
Comfort Systems USA, Inc. | 487 | 41,872 |
Crane Co. | 642 | 64,893 |
CSW Industrials, Inc. | 89 | 10,709 |
Cummins, Inc. | 2,741 | 559,493 |
Curtiss-Wright Corp. | 652 | 96,183 |
Deere & Co. | 2,315 | 833,446 |
Donaldson Co., Inc. | 1,425 | 77,335 |
Douglas Dynamics, Inc. | 381 | 13,998 |
Dover Corp. | 1,395 | 218,820 |
Dycom Industries, Inc. * | 775 | 67,472 |
Eaton Corp. plc | 5,442 | 839,646 |
EMCOR Group, Inc. | 1,196 | 138,186 |
Emerson Electric Co. | 8,264 | 767,891 |
Encore Wire Corp. | 398 | 46,335 |
Enerpac Tool Group Corp. | 649 | 11,195 |
EnerSys | 696 | 50,620 |
EnPro Industries, Inc. | 307 | 33,905 |
ESCO Technologies, Inc. | 226 | 15,723 |
Evoqua Water Technologies Corp. * | 392 | 16,723 |
Fastenal Co. | 4,347 | 223,697 |
Federal Signal Corp. | 685 | 24,735 |
Flowserve Corp. | 2,513 | 76,320 |
Fluor Corp. * | 9,154 | 198,276 |
Fortive Corp. | 1,974 | 127,816 |
Fortune Brands Home & Security, Inc. | 1,683 | 146,253 |
Franklin Electric Co., Inc. | 429 | 36,276 |
GATX Corp. | 854 | 91,062 |
Generac Holdings, Inc. * | 131 | 41,327 |
General Dynamics Corp. | 4,607 | 1,080,111 |
General Electric Co. | 22,996 | 2,196,348 |
Gibraltar Industries, Inc. * | 312 | 15,076 |
GMS, Inc. * | 771 | 41,827 |
Graco, Inc. | 1,025 | 73,892 |
GrafTech International Ltd. | 947 | 9,546 |
Granite Construction, Inc. | 1,467 | 44,406 |
Great Lakes Dredge & Dock Corp. * | 815 | 11,500 |
Griffon Corp. | 952 | 21,944 |
H&E Equipment Services, Inc. | 916 | 38,252 |
HEICO Corp. | 151 | 22,274 |
HEICO Corp., Class A | 253 | 31,099 |
Helios Technologies, Inc. | 166 | 13,016 |
Herc Holdings, Inc. | 337 | 53,623 |
Hexcel Corp. | 1,677 | 97,098 |
Hillenbrand, Inc. | 948 | 45,229 |
Honeywell International, Inc. | 6,988 | 1,325,973 |
Howmet Aerospace, Inc. | 6,315 | 226,835 |
Hubbell, Inc. | 646 | 115,150 |
Huntington Ingalls Industries, Inc. | 919 | 187,844 |
Hyster-Yale Materials Handling, Inc. | 361 | 13,819 |
IDEX Corp. | 497 | 95,374 |
Illinois Tool Works, Inc. | 3,172 | 686,230 |
Ingersoll Rand, Inc. | 821 | 41,477 |
ITT, Inc. | 912 | 80,137 |
JELD-WEN Holding, Inc. * | 1,360 | 31,389 |
John Bean Technologies Corp. | 194 | 21,994 |
Johnson Controls International plc | 8,688 | 564,372 |
Kadant, Inc. | 81 | 15,985 |
Kaman Corp. | 696 | 30,213 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Kennametal, Inc. | 1,348 | 42,745 |
Kratos Defense & Security Solutions, Inc. * | 476 | 9,958 |
L3Harris Technologies, Inc. | 1,511 | 381,240 |
Lennox International, Inc. | 260 | 69,402 |
Lincoln Electric Holdings, Inc. | 755 | 96,232 |
Lindsay Corp. | 102 | 13,383 |
Lockheed Martin Corp. | 2,996 | 1,299,665 |
Masco Corp. | 2,959 | 165,822 |
Masonite International Corp. * | 413 | 38,958 |
MasTec, Inc. * | 851 | 67,025 |
Matrix Service Co. * | 2,236 | 15,518 |
Maxar Technologies, Inc. | 855 | 27,736 |
McGrath RentCorp | 324 | 26,335 |
MDU Resources Group, Inc. | 3,727 | 99,772 |
Mercury Systems, Inc. * | 255 | 15,356 |
Meritor, Inc. * | 1,601 | 57,012 |
Moog, Inc., Class A | 780 | 64,826 |
MRC Global, Inc. * | 3,796 | 38,340 |
MSC Industrial Direct Co., Inc., Class A | 1,004 | 77,790 |
Mueller Industries, Inc. | 1,246 | 71,084 |
Mueller Water Products, Inc., Class A | 1,931 | 24,504 |
MYR Group, Inc. * | 287 | 25,758 |
National Presto Industries, Inc. | 134 | 10,653 |
Nordson Corp. | 392 | 88,784 |
Northrop Grumman Corp. | 2,081 | 920,093 |
NOW, Inc. * | 6,013 | 56,161 |
nVent Electric plc | 2,440 | 82,789 |
Oshkosh Corp. | 1,357 | 150,681 |
Otis Worldwide Corp. | 2,816 | 220,577 |
Owens Corning | 2,108 | 196,445 |
PACCAR, Inc. | 6,483 | 595,204 |
Parker-Hannifin Corp. | 1,372 | 406,647 |
Parsons Corp. * | 332 | 11,507 |
Pentair plc | 1,715 | 99,316 |
PGT Innovations, Inc. * | 608 | 13,078 |
Primoris Services Corp. | 1,483 | 39,107 |
Proto Labs, Inc. * | 205 | 11,527 |
Quanex Building Products Corp. | 817 | 18,677 |
Quanta Services, Inc. | 2,007 | 218,643 |
Raytheon Technologies Corp. | 12,760 | 1,310,452 |
RBC Bearings, Inc. * | 136 | 26,364 |
Regal Rexnord Corp. | 843 | 135,175 |
Resideo Technologies, Inc. * | 2,188 | 56,319 |
Rockwell Automation, Inc. | 976 | 260,182 |
Roper Technologies, Inc. | 454 | 203,492 |
Rush Enterprises, Inc., Class A | 1,456 | 75,625 |
Sensata Technologies Holding plc * | 1,768 | 102,385 |
Simpson Manufacturing Co., Inc. | 393 | 46,574 |
SiteOne Landscape Supply, Inc. * | 132 | 22,761 |
Snap-on, Inc. | 829 | 174,239 |
Spirit AeroSystems Holdings, Inc., Class A | 4,300 | 215,000 |
SPX Corp. * | 247 | 12,523 |
SPX FLOW, Inc. | 361 | 31,006 |
Standex International Corp. | 189 | 20,021 |
Stanley Black & Decker, Inc. | 1,656 | 269,431 |
Tennant Co. | 236 | 18,592 |
Terex Corp. | 1,263 | 52,137 |
Textainer Group Holdings Ltd. | 431 | 15,305 |
Textron, Inc. | 4,261 | 311,607 |
The Boeing Co. * | 8,916 | 1,830,811 |
The Greenbrier Cos., Inc. | 1,529 | 67,933 |
The Manitowoc Co., Inc. * | 859 | 14,199 |
The Middleby Corp. * | 427 | 75,844 |
The Timken Co. | 963 | 63,134 |
The Toro Co. | 778 | 72,984 |
Trane Technologies plc | 1,759 | 270,763 |
TransDigm Group, Inc. * | 384 | 255,971 |
Trex Co., Inc. * | 263 | 24,154 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Trinity Industries, Inc. | 2,081 | 60,058 |
Triton International Ltd. | 997 | 65,483 |
Tutor Perini Corp. * | 3,128 | 30,654 |
UFP Industries, Inc. | 1,224 | 104,958 |
United Rentals, Inc. * | 1,080 | 347,350 |
Univar Solutions, Inc. * | 3,883 | 119,247 |
Valmont Industries, Inc. | 277 | 59,957 |
Vectrus, Inc. * | 335 | 15,356 |
W.W. Grainger, Inc. | 647 | 308,658 |
Wabash National Corp. | 2,745 | 46,775 |
Watsco, Inc. | 379 | 103,490 |
Watts Water Technologies, Inc., Class A | 233 | 33,540 |
Welbilt, Inc. * | 1,059 | 25,035 |
WESCO International, Inc. * | 1,333 | 162,266 |
Westinghouse Air Brake Technologies Corp. | 1,455 | 135,053 |
Woodward, Inc. | 511 | 63,686 |
Xylem, Inc. | 1,088 | 96,778 |
Zurn Water Solutions Corp. | 970 | 31,544 |
31,135,699 | ||
Commercial & Professional Services 1.1% | ||
ABM Industries, Inc. | 1,885 | 84,505 |
ACCO Brands Corp. | 3,789 | 32,585 |
ADT, Inc. | 3,850 | 28,144 |
ASGN, Inc. * | 567 | 62,818 |
Booz Allen Hamilton Holding Corp. | 1,297 | 104,655 |
Brady Corp., Class A | 718 | 33,085 |
BrightView Holdings, Inc. * | 1,136 | 15,347 |
CACI International, Inc., Class A * | 337 | 94,289 |
CBIZ, Inc. * | 557 | 21,673 |
Cimpress plc * | 234 | 14,740 |
Cintas Corp. | 554 | 207,927 |
Clean Harbors, Inc. * | 647 | 61,743 |
Copart, Inc. * | 648 | 79,626 |
CoreCivic, Inc. * | 9,102 | 82,919 |
CoStar Group, Inc. * | 545 | 33,250 |
Deluxe Corp. | 1,600 | 49,776 |
Equifax, Inc. | 524 | 114,410 |
Exponent, Inc. | 170 | 16,109 |
FTI Consulting, Inc. * | 429 | 62,634 |
Harsco Corp. * | 1,751 | 20,854 |
Healthcare Services Group, Inc. | 1,897 | 30,011 |
Heidrick & Struggles International, Inc. | 283 | 12,098 |
HNI Corp. | 1,305 | 53,100 |
Huron Consulting Group, Inc. * | 354 | 17,463 |
IAA, Inc. * | 568 | 20,868 |
ICF International, Inc. | 288 | 25,523 |
Insperity, Inc. | 293 | 26,355 |
Interface, Inc. | 1,776 | 23,177 |
Jacobs Engineering Group, Inc. | 1,724 | 212,052 |
KAR Auction Services, Inc. * | 3,331 | 61,490 |
KBR, Inc. | 2,095 | 103,996 |
Kelly Services, Inc., Class A | 3,604 | 76,477 |
Kforce, Inc. | 457 | 34,357 |
Korn Ferry | 670 | 44,394 |
Leidos Holdings, Inc. | 2,271 | 231,279 |
ManpowerGroup, Inc. | 2,831 | 300,879 |
ManTech International Corp., Class A | 457 | 38,100 |
Matthews International Corp., Class A | 872 | 28,933 |
MillerKnoll, Inc. | 1,721 | 66,912 |
MSA Safety, Inc. | 207 | 28,794 |
Nielsen Holdings plc | 8,992 | 156,641 |
Pitney Bowes, Inc. | 8,524 | 42,450 |
Republic Services, Inc. | 2,206 | 265,338 |
Resources Connection, Inc. | 1,319 | 21,895 |
Robert Half International, Inc. | 1,857 | 223,379 |
Rollins, Inc. | 885 | 28,878 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Science Applications International Corp. | 1,064 | 93,302 |
SP Plus Corp. * | 709 | 21,164 |
Steelcase, Inc., Class A | 3,718 | 45,248 |
Stericycle, Inc. * | 924 | 53,925 |
Tetra Tech, Inc. | 406 | 64,461 |
The Brink's Co. | 467 | 32,718 |
The GEO Group, Inc. * | 9,641 | 57,460 |
TransUnion | 682 | 61,898 |
TriNet Group, Inc. * | 284 | 24,796 |
TrueBlue, Inc. * | 2,016 | 54,835 |
UniFirst Corp. | 224 | 40,600 |
US Ecology, Inc. * | 495 | 23,483 |
Verisk Analytics, Inc. | 553 | 98,069 |
Viad Corp. * | 532 | 18,588 |
Waste Management, Inc. | 4,179 | 603,448 |
4,689,923 | ||
Consumer Durables & Apparel 1.5% | ||
Acushnet Holdings Corp. | 389 | 17,038 |
Beazer Homes USA, Inc. * | 912 | 14,929 |
Brunswick Corp. | 1,144 | 109,275 |
Callaway Golf Co. * | 856 | 21,177 |
Capri Holdings Ltd. * | 3,150 | 213,381 |
Carter's, Inc. | 1,026 | 99,194 |
Cavco Industries, Inc. * | 104 | 28,354 |
Century Communities, Inc. | 329 | 20,964 |
Columbia Sportswear Co. | 406 | 37,644 |
Crocs, Inc. * | 184 | 15,406 |
D.R. Horton, Inc. | 4,221 | 360,473 |
Deckers Outdoor Corp. * | 195 | 56,285 |
Ethan Allen Interiors, Inc. | 1,017 | 26,503 |
Fossil Group, Inc. * | 2,683 | 36,274 |
Garmin Ltd. | 1,020 | 112,649 |
G-III Apparel Group Ltd. * | 1,742 | 48,323 |
Hanesbrands, Inc. | 8,038 | 124,187 |
Hasbro, Inc. | 1,424 | 138,199 |
Helen of Troy Ltd. * | 224 | 46,070 |
Installed Building Products, Inc. | 112 | 10,830 |
iRobot Corp. * | 323 | 20,078 |
KB Home | 1,583 | 61,120 |
Kontoor Brands, Inc. | 984 | 48,747 |
La-Z-Boy, Inc. | 1,144 | 33,382 |
Leggett & Platt, Inc. | 2,576 | 95,518 |
Lennar Corp., Class A | 3,709 | 333,365 |
LGI Homes, Inc. * | 186 | 23,460 |
Lululemon Athletica, Inc. * | 332 | 106,220 |
M.D.C Holdings, Inc. | 964 | 42,744 |
M/I Homes, Inc. * | 617 | 30,412 |
Mattel, Inc. * | 3,793 | 94,749 |
Meritage Homes Corp. * | 710 | 69,992 |
Mohawk Industries, Inc. * | 1,180 | 166,120 |
Movado Group, Inc. | 460 | 18,133 |
Newell Brands, Inc. | 6,078 | 144,353 |
NIKE, Inc., Class B | 6,500 | 887,575 |
NVR, Inc. * | 43 | 213,213 |
Oxford Industries, Inc. | 322 | 28,462 |
Polaris, Inc. | 971 | 117,986 |
PulteGroup, Inc. | 5,619 | 279,040 |
PVH Corp. | 2,133 | 208,799 |
Ralph Lauren Corp. | 1,123 | 148,281 |
Skechers U.S.A., Inc., Class A * | 1,982 | 91,132 |
Skyline Champion Corp. * | 224 | 15,062 |
Smith & Wesson Brands, Inc. | 842 | 14,844 |
Steven Madden Ltd. | 1,420 | 60,577 |
Sturm Ruger & Co., Inc. | 329 | 23,823 |
Tapestry, Inc. | 4,485 | 183,437 |
Taylor Morrison Home Corp. * | 2,590 | 76,405 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Tempur Sealy International, Inc. | 1,293 | 42,682 |
Toll Brothers, Inc. | 2,168 | 117,636 |
TopBuild Corp. * | 224 | 48,088 |
Tri Pointe Homes, Inc. * | 3,523 | 78,810 |
Tupperware Brands Corp. * | 1,730 | 31,538 |
Under Armour, Inc., Class A * | 1,789 | 32,005 |
Under Armour, Inc., Class C * | 1,902 | 29,728 |
Universal Electronics, Inc. * | 329 | 10,933 |
VF Corp. | 4,312 | 250,182 |
Vista Outdoor, Inc. * | 788 | 28,723 |
Whirlpool Corp. | 1,498 | 301,503 |
Wolverine World Wide, Inc. | 1,705 | 39,266 |
6,185,278 | ||
Consumer Services 2.3% | ||
Adtalem Global Education, Inc. * | 1,544 | 32,084 |
American Public Education, Inc. * | 507 | 10,120 |
Aramark | 5,313 | 196,369 |
Arcos Dorados Holdings, Inc., Class A * | 4,455 | 34,437 |
Bally's Corp. * | 247 | 8,897 |
BJ's Restaurants, Inc. * | 643 | 20,621 |
Bloomin' Brands, Inc. * | 2,486 | 61,181 |
Booking Holdings, Inc. * | 425 | 923,206 |
Boyd Gaming Corp. * | 747 | 52,992 |
Bright Horizons Family Solutions, Inc. * | 349 | 45,593 |
Brinker International, Inc. * | 1,238 | 52,665 |
Caesars Entertainment, Inc. * | 289 | 24,331 |
Carnival Corp. * | 18,123 | 368,441 |
Chipotle Mexican Grill, Inc. * | 93 | 141,672 |
Choice Hotels International, Inc. | 181 | 26,127 |
Churchill Downs, Inc. | 254 | 61,181 |
Cracker Barrel Old Country Store, Inc. | 590 | 79,219 |
Darden Restaurants, Inc. | 1,261 | 183,122 |
Dave & Buster's Entertainment, Inc. * | 974 | 42,213 |
Denny's Corp. * | 1,163 | 18,399 |
Dine Brands Global, Inc. | 269 | 22,553 |
Domino's Pizza, Inc. | 346 | 149,545 |
Everi Holdings, Inc. * | 572 | 13,385 |
Expedia Group, Inc. * | 1,416 | 277,692 |
Frontdoor, Inc. * | 394 | 11,840 |
Graham Holdings Co., Class B | 100 | 60,113 |
Grand Canyon Education, Inc. * | 497 | 43,155 |
H&R Block, Inc. | 3,742 | 92,839 |
Hilton Grand Vacations, Inc. * | 1,158 | 60,054 |
Hilton Worldwide Holdings, Inc. * | 1,903 | 283,281 |
Houghton Mifflin Harcourt Co. * | 2,589 | 54,240 |
Hyatt Hotels Corp., Class A * | 862 | 83,709 |
International Game Technology plc | 2,944 | 90,145 |
Jack in the Box, Inc. | 622 | 53,660 |
Las Vegas Sands Corp. * | 6,979 | 299,120 |
Laureate Education, Inc. | 3,106 | 33,669 |
Marriott International, Inc., Class A * | 2,257 | 384,006 |
Marriott Vacations Worldwide Corp. | 495 | 79,532 |
McDonald's Corp. | 7,176 | 1,756,470 |
MGM Resorts International | 7,129 | 315,743 |
Norwegian Cruise Line Holdings Ltd. * | 7,719 | 150,443 |
Papa John's International, Inc. | 203 | 21,684 |
Penn National Gaming, Inc. * | 975 | 50,066 |
Perdoceo Education Corp. * | 1,502 | 15,726 |
Planet Fitness, Inc., Class A * | 361 | 30,551 |
Red Robin Gourmet Burgers, Inc. * | 919 | 16,128 |
Red Rock Resorts, Inc., Class A | 623 | 31,324 |
Regis Corp. * | 4,111 | 7,441 |
Royal Caribbean Cruises Ltd. * | 3,943 | 318,279 |
Ruth's Hospitality Group, Inc. | 572 | 14,191 |
Scientific Games Corp., Class A * | 575 | 36,179 |
SeaWorld Entertainment, Inc. * | 431 | 29,907 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Service Corp. International | 1,497 | 91,092 |
Six Flags Entertainment Corp. * | 2,044 | 89,241 |
Starbucks Corp. | 11,210 | 1,028,966 |
Strategic Education, Inc. | 309 | 18,237 |
Stride, Inc. * | 966 | 32,438 |
Terminix Global Holdings, Inc. * | 989 | 42,092 |
Texas Roadhouse, Inc. | 689 | 65,393 |
The Cheesecake Factory, Inc. * | 1,042 | 44,587 |
The Wendy's Co. | 3,515 | 79,931 |
Travel & Leisure Co. | 1,787 | 100,161 |
Vail Resorts, Inc. | 270 | 70,349 |
WW International, Inc. * | 670 | 6,827 |
Wyndham Hotels & Resorts, Inc. | 738 | 63,771 |
Wynn Resorts Ltd. * | 1,325 | 114,639 |
Yum China Holdings, Inc. | 3,511 | 182,642 |
Yum! Brands, Inc. | 3,214 | 393,972 |
9,693,878 | ||
Diversified Financials 5.8% | ||
Affiliated Managers Group, Inc. | 744 | 102,940 |
AGNC Investment Corp. | 5,992 | 77,357 |
Ally Financial, Inc. | 9,628 | 480,437 |
American Express Co. | 8,791 | 1,710,201 |
Ameriprise Financial, Inc. | 1,865 | 559,108 |
Annaly Capital Management, Inc. | 14,486 | 100,823 |
Apollo Commercial Real Estate Finance, Inc. | 2,020 | 26,361 |
Apollo Global Management, Inc. | 2,287 | 149,250 |
Arbor Realty Trust, Inc. | 817 | 14,706 |
Ares Management Corp., Class A | 201 | 16,299 |
Artisan Partners Asset Management, Inc., Class A | 626 | 23,857 |
Berkshire Hathaway, Inc., Class B * | 22,602 | 7,265,413 |
BGC Partners, Inc., Class A | 5,651 | 25,882 |
BlackRock, Inc. | 966 | 718,598 |
Blackstone Mortgage Trust, Inc., Class A | 1,440 | 45,763 |
Blucora, Inc. * | 779 | 15,502 |
Brightsphere Investment Group, Inc. | 1,072 | 25,589 |
BrightSpire Capital, Inc. | 1,288 | 11,412 |
Cannae Holdings, Inc. * | 1,035 | 27,790 |
Capital One Financial Corp. | 9,730 | 1,491,317 |
Cboe Global Markets, Inc. | 703 | 82,455 |
Chimera Investment Corp. | 4,574 | 55,666 |
CME Group, Inc. | 1,640 | 387,909 |
Cohen & Steers, Inc. | 204 | 16,577 |
Compass Diversified Holdings | 1,176 | 27,942 |
Credit Acceptance Corp. * | 84 | 46,210 |
Discover Financial Services | 7,072 | 872,968 |
Donnelley Financial Solutions, Inc. * | 570 | 18,297 |
Encore Capital Group, Inc. * | 462 | 30,487 |
Enova International, Inc. * | 613 | 24,992 |
Equitable Holdings, Inc. | 4,412 | 144,096 |
Evercore, Inc., Class A | 614 | 77,984 |
FactSet Research Systems, Inc. | 156 | 63,350 |
Federated Hermes, Inc. | 1,919 | 62,694 |
FirstCash Holdings, Inc. | 668 | 48,123 |
Franklin Resources, Inc. | 9,805 | 291,503 |
Green Dot Corp., Class A * | 574 | 16,445 |
Houlihan Lokey, Inc. | 343 | 35,281 |
Interactive Brokers Group, Inc., Class A | 185 | 12,243 |
Intercontinental Exchange, Inc. | 2,790 | 357,455 |
Invesco Ltd. | 8,469 | 179,881 |
Invesco Mortgage Capital, Inc. | 11,379 | 24,806 |
Jackson Financial, Inc., Class A | 727 | 29,727 |
Janus Henderson Group plc | 2,137 | 71,739 |
Jefferies Financial Group, Inc. | 3,206 | 113,941 |
KKR & Co., Inc. | 3,424 | 205,851 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Ladder Capital Corp. | 2,585 | 29,624 |
Lazard Ltd., Class A | 2,051 | 70,924 |
LPL Financial Holdings, Inc. | 808 | 146,208 |
MarketAxess Holdings, Inc. | 74 | 28,226 |
MFA Financial, Inc. | 9,067 | 36,812 |
Moelis & Co., Class A | 499 | 24,057 |
Moody's Corp. | 644 | 207,387 |
Morgan Stanley | 14,111 | 1,280,432 |
Morningstar, Inc. | 88 | 24,697 |
MSCI, Inc. | 188 | 94,318 |
Nasdaq, Inc. | 592 | 101,321 |
Navient Corp. | 11,942 | 210,299 |
Nelnet, Inc., Class A | 289 | 23,279 |
New Residential Investment Corp. | 13,405 | 139,144 |
New York Mortgage Trust, Inc. | 6,097 | 21,400 |
Northern Trust Corp. | 2,216 | 252,402 |
OneMain Holdings, Inc. | 1,493 | 76,113 |
PennyMac Mortgage Investment Trust | 1,650 | 25,740 |
Piper Sandler Cos. | 152 | 22,497 |
PRA Group, Inc. * | 672 | 29,991 |
PROG Holdings, Inc. * | 1,584 | 48,534 |
Raymond James Financial, Inc. | 1,637 | 179,497 |
Redwood Trust, Inc. | 2,144 | 22,276 |
S&P Global, Inc. | 1,547 | 581,400 |
SEI Investments Co. | 1,501 | 87,929 |
SLM Corp. | 3,898 | 76,791 |
Starwood Property Trust, Inc. | 3,666 | 87,397 |
State Street Corp. | 4,945 | 421,957 |
Stifel Financial Corp. | 701 | 51,523 |
Synchrony Financial | 20,029 | 856,841 |
T. Rowe Price Group, Inc. | 2,417 | 349,401 |
The Bank of New York Mellon Corp. | 16,297 | 866,185 |
The Carlyle Group, Inc. | 587 | 27,513 |
The Charles Schwab Corp. (a) | 4,174 | 352,536 |
The Goldman Sachs Group, Inc. | 4,600 | 1,569,934 |
TPG RE Finance Trust, Inc. | 1,120 | 13,261 |
Tradeweb Markets, Inc., Class A | 184 | 15,544 |
Two Harbors Investment Corp. | 7,918 | 40,065 |
Virtu Financial, Inc., Class A | 400 | 14,032 |
Virtus Investment Partners, Inc. | 58 | 13,956 |
Voya Financial, Inc. | 1,620 | 109,107 |
WisdomTree Investments, Inc. | 2,469 | 13,900 |
World Acceptance Corp. * | 130 | 25,541 |
24,857,218 | ||
Energy 9.5% | ||
Alto Ingredients, Inc. * | 2,771 | 16,155 |
Antero Resources Corp. * | 8,048 | 184,541 |
APA Corp. | 6,179 | 220,158 |
Arch Resources, Inc. (b) | 992 | 118,415 |
Archrock, Inc. | 3,527 | 29,450 |
Baker Hughes Co. | 22,138 | 650,414 |
Callon Petroleum Co. * | 585 | 32,971 |
Centennial Resource Development, Inc., Class A * | 5,140 | 45,129 |
ChampionX Corp. * | 1,289 | 27,597 |
Cheniere Energy, Inc. | 1,235 | 164,132 |
Chevron Corp. | 50,402 | 7,257,888 |
CNX Resources Corp. * | 4,844 | 79,151 |
ConocoPhillips | 26,482 | 2,512,083 |
CONSOL Energy, Inc. * | 2,060 | 63,324 |
Continental Resources, Inc. | 1,105 | 61,250 |
Core Laboratories N.V. | 941 | 25,934 |
Coterra Energy, Inc. | 8,350 | 194,806 |
CVR Energy, Inc. | 2,126 | 36,971 |
Delek US Holdings, Inc. * | 5,369 | 92,508 |
Devon Energy Corp. | 4,908 | 292,271 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
DHT Holdings, Inc. | 2,757 | 17,342 |
Diamondback Energy, Inc. | 1,771 | 244,575 |
Dril-Quip, Inc. * | 973 | 28,061 |
DTE Midstream LLC * | 1,347 | 71,526 |
EOG Resources, Inc. | 7,435 | 854,430 |
EQT Corp. | 2,953 | 68,332 |
Equitrans Midstream Corp. | 7,559 | 48,453 |
Exxon Mobil Corp. | 138,195 | 10,837,252 |
Golar LNG Ltd. * | 1,105 | 19,227 |
Green Plains, Inc. * | 1,483 | 48,553 |
Halliburton Co. | 17,138 | 574,637 |
Helix Energy Solutions Group, Inc. * | 4,063 | 16,455 |
Helmerich & Payne, Inc. | 5,197 | 188,287 |
Hess Corp. | 1,844 | 186,355 |
HollyFrontier Corp. * | 10,890 | 331,601 |
International Seaways, Inc. | 1,603 | 29,319 |
Kinder Morgan, Inc. | 45,919 | 798,991 |
Kosmos Energy Ltd. * | 10,779 | 52,386 |
Liberty Oilfield Services, Inc., Class A * | 1,137 | 14,190 |
Magnolia Oil & Gas Corp., Class A | 1,423 | 31,804 |
Marathon Oil Corp. | 22,148 | 499,659 |
Marathon Petroleum Corp. | 28,700 | 2,234,869 |
Matador Resources Co. | 746 | 37,002 |
Murphy Oil Corp. | 5,083 | 176,228 |
Nabors Industries Ltd. * | 920 | 115,497 |
NexTier Oilfield Solutions, Inc. * | 5,818 | 46,311 |
Nordic American Tankers Ltd. | 7,021 | 16,991 |
NOV, Inc. | 23,031 | 394,982 |
Occidental Petroleum Corp. | 24,881 | 1,088,046 |
Oceaneering International, Inc. * | 4,614 | 67,549 |
Oil States International, Inc. * | 4,463 | 23,341 |
ONEOK, Inc. | 6,803 | 444,236 |
Ovintiv, Inc. | 3,859 | 176,935 |
Par Pacific Holdings, Inc. * | 1,677 | 22,807 |
Patterson-UTI Energy, Inc. | 10,481 | 151,241 |
PBF Energy, Inc., Class A * | 17,861 | 296,850 |
PDC Energy, Inc. | 1,112 | 71,746 |
Peabody Energy Corp. * | 12,442 | 215,744 |
Phillips 66 | 24,515 | 2,065,144 |
Pioneer Natural Resources Co. | 1,666 | 399,174 |
ProPetro Holding Corp. * | 3,108 | 39,689 |
Range Resources Corp. * | 1,989 | 45,648 |
Renewable Energy Group, Inc. * | 867 | 53,321 |
Schlumberger N.V. | 34,469 | 1,352,564 |
Scorpio Tankers, Inc. | 1,539 | 26,763 |
SFL Corp., Ltd. | 3,382 | 33,651 |
SM Energy Co. | 3,343 | 118,710 |
Southwestern Energy Co. * | 8,669 | 43,258 |
Targa Resources Corp. | 5,438 | 355,482 |
TechnipFMC plc * | 18,831 | 128,992 |
Teekay Tankers Ltd., Class A * | 1,381 | 19,734 |
The Williams Cos., Inc. | 18,451 | 577,147 |
Transocean Ltd. * | 28,847 | 102,118 |
US Silica Holdings, Inc. * | 1,531 | 22,138 |
Valero Energy Corp. | 27,351 | 2,284,082 |
World Fuel Services Corp. | 10,872 | 308,112 |
40,622,685 | ||
Food & Staples Retailing 2.9% | ||
BJ's Wholesale Club Holdings, Inc. * | 624 | 39,231 |
Casey's General Stores, Inc. | 731 | 137,486 |
Costco Wholesale Corp. | 4,663 | 2,421,263 |
Grocery Outlet Holding Corp. * | 671 | 18,660 |
Ingles Markets, Inc., Class A | 648 | 53,278 |
Performance Food Group Co. * | 5,928 | 332,205 |
PriceSmart, Inc. | 590 | 42,905 |
Rite Aid Corp. * | 6,011 | 55,061 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
SpartanNash Co. | 4,312 | 121,340 |
Sprouts Farmers Market, Inc. * | 3,352 | 95,465 |
Sysco Corp. | 7,843 | 683,125 |
The Andersons, Inc. | 1,446 | 65,938 |
The Chefs' Warehouse, Inc. * | 496 | 16,294 |
The Kroger Co. | 32,879 | 1,538,737 |
United Natural Foods, Inc. * | 3,670 | 147,644 |
US Foods Holding Corp. * | 8,511 | 332,695 |
Walgreens Boots Alliance, Inc. | 41,337 | 1,905,222 |
Walmart, Inc. | 30,385 | 4,106,837 |
Weis Markets, Inc. | 485 | 29,910 |
12,143,296 | ||
Food, Beverage & Tobacco 4.1% | ||
Altria Group, Inc. | 34,363 | 1,762,478 |
Archer-Daniels-Midland Co. | 19,829 | 1,555,585 |
B&G Foods, Inc. | 1,613 | 47,745 |
Brown-Forman Corp., Class B | 912 | 59,490 |
Bunge Ltd. | 5,713 | 597,294 |
Calavo Growers, Inc. | 474 | 20,235 |
Cal-Maine Foods, Inc. | 1,008 | 44,624 |
Campbell Soup Co. | 2,922 | 131,402 |
Coca-Cola Consolidated, Inc. | 45 | 22,362 |
Coca-Cola Europacific Partners plc | 4,060 | 207,913 |
Conagra Brands, Inc. | 6,691 | 233,984 |
Constellation Brands, Inc., Class A | 1,319 | 284,403 |
Darling Ingredients, Inc. * | 1,195 | 86,614 |
Flowers Foods, Inc. | 3,591 | 98,429 |
Fresh Del Monte Produce, Inc. | 1,986 | 51,398 |
General Mills, Inc. | 8,714 | 587,585 |
Hormel Foods Corp. | 3,894 | 185,510 |
Hostess Brands, Inc. * | 1,179 | 25,396 |
Ingredion, Inc. | 1,944 | 172,511 |
J&J Snack Foods Corp. | 202 | 33,071 |
John B Sanfilippo & Son, Inc. | 215 | 17,097 |
Kellogg Co. | 3,859 | 246,744 |
Keurig Dr Pepper, Inc. | 4,042 | 156,304 |
Lamb Weston Holdings, Inc. | 943 | 62,644 |
Lancaster Colony Corp. | 210 | 35,324 |
McCormick & Co., Inc. Non-Voting Shares | 1,544 | 146,942 |
Molson Coors Beverage Co., Class B | 5,340 | 278,641 |
Mondelez International, Inc., Class A | 19,031 | 1,246,150 |
Monster Beverage Corp. * | 2,027 | 171,079 |
Nomad Foods Ltd. * | 1,194 | 30,065 |
PepsiCo, Inc. | 14,444 | 2,365,061 |
Philip Morris International, Inc. | 19,084 | 1,928,820 |
Pilgrim's Pride Corp. * | 1,739 | 41,006 |
Post Holdings, Inc. * | 845 | 88,843 |
Sanderson Farms, Inc. | 566 | 101,082 |
The Boston Beer Co., Inc., Class A * | 50 | 19,173 |
The Coca-Cola Co. | 34,133 | 2,124,438 |
The Hain Celestial Group, Inc. * | 1,065 | 38,723 |
The Hershey Co. | 1,000 | 202,260 |
The J.M. Smucker Co. | 2,241 | 301,975 |
The Kraft Heinz Co. | 13,102 | 513,860 |
TreeHouse Foods, Inc. * | 1,606 | 63,036 |
Tyson Foods, Inc., Class A | 9,477 | 878,139 |
Universal Corp. | 1,247 | 67,475 |
Vector Group Ltd. | 2,788 | 31,253 |
17,364,163 | ||
Health Care Equipment & Services 6.1% | ||
Abbott Laboratories | 8,540 | 1,030,095 |
ABIOMED, Inc. * | 89 | 27,656 |
Acadia Healthcare Co., Inc. * | 948 | 53,761 |
Addus HomeCare Corp. * | 112 | 9,524 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Align Technology, Inc. * | 124 | 63,421 |
Allscripts Healthcare Solutions, Inc. * | 2,022 | 39,348 |
Amedisys, Inc. * | 157 | 25,158 |
AmerisourceBergen Corp. | 3,557 | 506,979 |
AMN Healthcare Services, Inc. * | 427 | 45,322 |
Anthem, Inc. | 4,960 | 2,241,176 |
Avanos Medical, Inc. * | 459 | 16,244 |
Baxter International, Inc. | 5,271 | 447,877 |
Becton Dickinson & Co. | 1,727 | 468,501 |
Boston Scientific Corp. * | 5,934 | 262,105 |
Brookdale Senior Living, Inc. * | 6,515 | 44,823 |
Cardinal Health, Inc. | 16,151 | 872,315 |
Centene Corp. * | 8,781 | 725,486 |
Cerner Corp. | 3,719 | 346,797 |
Change Healthcare, Inc. * | 1,902 | 40,741 |
Chemed Corp. | 122 | 58,351 |
Cigna Corp. | 4,318 | 1,026,734 |
Community Health Systems, Inc. * | 3,112 | 32,707 |
CONMED Corp. | 155 | 22,655 |
Covetrus, Inc. * | 2,075 | 36,769 |
CVS Health Corp. | 34,579 | 3,584,113 |
DaVita, Inc. * | 2,283 | 257,454 |
Dentsply Sirona, Inc. | 2,399 | 129,882 |
Edwards Lifesciences Corp. * | 1,309 | 147,092 |
Encompass Health Corp. | 1,300 | 85,826 |
Envista Holdings Corp. * | 2,214 | 106,272 |
Globus Medical, Inc., Class A * | 342 | 24,049 |
Haemonetics Corp. * | 496 | 28,624 |
HCA Healthcare, Inc. | 3,438 | 860,566 |
Henry Schein, Inc. * | 2,591 | 223,811 |
Hologic, Inc. * | 1,558 | 110,883 |
Humana, Inc. | 2,659 | 1,154,857 |
ICU Medical, Inc. * | 136 | 32,195 |
IDEXX Laboratories, Inc. * | 67 | 35,667 |
Integer Holdings Corp. * | 338 | 28,348 |
Integra LifeSciences Holdings Corp. * | 359 | 24,075 |
Intuitive Surgical, Inc. * | 645 | 187,263 |
Laboratory Corp. of America Holdings * | 979 | 265,563 |
LHC Group, Inc. * | 189 | 25,736 |
LivaNova plc * | 219 | 17,262 |
Masimo Corp. * | 139 | 21,886 |
McKesson Corp. | 5,047 | 1,387,723 |
MEDNAX, Inc. * | 2,506 | 58,816 |
Medtronic plc | 14,058 | 1,475,949 |
Merit Medical Systems, Inc. * | 280 | 18,208 |
ModivCare, Inc. * | 153 | 18,054 |
Molina Healthcare, Inc. * | 685 | 210,206 |
National HealthCare Corp. | 345 | 22,432 |
Natus Medical, Inc. * | 434 | 12,074 |
Neogen Corp. * | 371 | 13,245 |
NextGen Healthcare, Inc. * | 743 | 14,511 |
NuVasive, Inc. * | 537 | 29,062 |
Omnicell, Inc. * | 139 | 17,970 |
Orthofix Medical, Inc. * | 316 | 10,738 |
Owens & Minor, Inc. | 1,616 | 71,346 |
Patterson Cos., Inc. | 2,679 | 80,102 |
Premier, Inc., Class A | 1,595 | 57,324 |
Quest Diagnostics, Inc. | 2,107 | 276,586 |
ResMed, Inc. | 457 | 112,765 |
Select Medical Holdings Corp. | 1,438 | 33,290 |
STERIS plc | 639 | 153,360 |
Stryker Corp. | 1,806 | 475,610 |
Teleflex, Inc. | 205 | 68,944 |
Tenet Healthcare Corp. * | 2,287 | 196,659 |
The Cooper Cos., Inc. | 201 | 82,213 |
The Ensign Group, Inc. | 315 | 26,473 |
UnitedHealth Group, Inc. | 9,930 | 4,725,389 |
Universal Health Services, Inc., Class B | 2,002 | 288,148 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
US Physical Therapy, Inc. | 96 | 8,829 |
Varex Imaging Corp. * | 608 | 14,373 |
Veeva Systems, Inc., Class A * | 87 | 19,927 |
Zimmer Biomet Holdings, Inc. | 1,685 | 214,315 |
25,990,610 | ||
Household & Personal Products 1.3% | ||
Central Garden & Pet Co., Class A * | 524 | 23,077 |
Church & Dwight Co., Inc. | 1,984 | 194,134 |
Colgate-Palmolive Co. | 7,614 | 585,897 |
Coty, Inc., Class A * | 6,325 | 58,000 |
Edgewell Personal Care Co. | 1,360 | 48,525 |
Energizer Holdings, Inc. | 671 | 22,405 |
Herbalife Nutrition Ltd. * | 897 | 31,915 |
Inter Parfums, Inc. | 138 | 12,817 |
Kimberly-Clark Corp. | 3,306 | 430,276 |
Medifast, Inc. | 57 | 10,602 |
Nu Skin Enterprises, Inc., Class A | 1,533 | 71,116 |
Spectrum Brands Holdings, Inc. | 778 | 72,183 |
The Clorox Co. | 1,152 | 167,950 |
The Estee Lauder Cos., Inc., Class A | 906 | 268,475 |
The Procter & Gamble Co. | 22,776 | 3,550,551 |
USANA Health Sciences, Inc. * | 252 | 22,178 |
WD-40 Co. | 77 | 16,316 |
5,586,417 | ||
Insurance 3.6% | ||
Aflac, Inc. | 13,039 | 796,553 |
Alleghany Corp. * | 210 | 139,003 |
Ambac Financial Group, Inc. * | 1,429 | 18,334 |
American Equity Investment Life Holding Co. | 2,151 | 81,071 |
American Financial Group, Inc. | 907 | 122,799 |
American International Group, Inc. | 33,446 | 2,048,233 |
American National Group, Inc. | 114 | 21,549 |
AMERISAFE, Inc. | 334 | 15,731 |
Aon plc, Class A | 1,857 | 542,504 |
Arch Capital Group Ltd. * | 3,283 | 154,662 |
Argo Group International Holdings Ltd. | 479 | 20,199 |
Arthur J. Gallagher & Co. | 1,100 | 174,009 |
Assurant, Inc. | 612 | 103,863 |
Assured Guaranty Ltd. | 2,845 | 176,305 |
Axis Capital Holdings Ltd. | 1,538 | 84,006 |
Brighthouse Financial, Inc. * | 292 | 15,260 |
Brown & Brown, Inc. | 1,413 | 95,533 |
Chubb Ltd. | 4,851 | 987,858 |
Cincinnati Financial Corp. | 1,674 | 205,551 |
CNA Financial Corp. | 626 | 28,608 |
CNO Financial Group, Inc. | 3,936 | 95,133 |
Employers Holdings, Inc. | 586 | 22,772 |
Enstar Group Ltd. * | 82 | 23,372 |
Everest Re Group Ltd. | 641 | 191,159 |
Fidelity National Financial, Inc. | 4,647 | 221,383 |
First American Financial Corp. | 1,989 | 133,343 |
Genworth Financial, Inc., Class A * | 30,105 | 122,226 |
Globe Life, Inc. | 1,596 | 161,132 |
Horace Mann Educators Corp. | 520 | 21,627 |
James River Group Holdings Ltd. | 667 | 17,742 |
Kemper Corp. | 873 | 46,653 |
Lincoln National Corp. | 4,289 | 289,164 |
Loews Corp. | 5,013 | 307,497 |
Markel Corp. * | 123 | 152,878 |
Marsh & McLennan Cos., Inc. | 3,705 | 575,794 |
MBIA, Inc. * | 2,543 | 38,781 |
Mercury General Corp. | 543 | 29,865 |
MetLife, Inc. | 15,602 | 1,053,915 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Old Republic International Corp. | 5,933 | 156,335 |
Primerica, Inc. | 537 | 69,751 |
Principal Financial Group, Inc. | 4,572 | 322,966 |
ProAssurance Corp. | 2,144 | 51,670 |
Prudential Financial, Inc. | 10,184 | 1,137,145 |
Reinsurance Group of America, Inc. | 1,511 | 167,509 |
RenaissanceRe Holdings Ltd. | 435 | 65,589 |
RLI Corp. | 257 | 26,086 |
Safety Insurance Group, Inc. | 264 | 22,028 |
Selective Insurance Group, Inc. | 600 | 49,914 |
SiriusPoint Ltd. * | 1,340 | 9,903 |
Stewart Information Services Corp. | 610 | 41,407 |
The Allstate Corp. | 6,978 | 853,828 |
The Hanover Insurance Group, Inc. | 700 | 97,657 |
The Hartford Financial Services Group, Inc. | 7,057 | 490,320 |
The Progressive Corp. | 5,747 | 608,780 |
The Travelers Cos., Inc. | 7,724 | 1,327,215 |
United Fire Group, Inc. | 579 | 15,986 |
Universal Insurance Holdings, Inc. | 1,560 | 18,034 |
Unum Group | 8,729 | 243,714 |
W.R. Berkley Corp. | 1,717 | 155,045 |
White Mountains Insurance Group Ltd. | 49 | 51,460 |
Willis Towers Watson plc | 880 | 195,624 |
15,514,033 | ||
Materials 3.6% | ||
AdvanSix, Inc. | 687 | 27,521 |
Air Products and Chemicals, Inc. | 1,532 | 362,012 |
Albemarle Corp. | 715 | 140,061 |
Alcoa Corp. | 5,868 | 442,095 |
Allegheny Technologies, Inc. * | 2,739 | 70,502 |
AptarGroup, Inc. | 580 | 70,690 |
Arconic Corp. * | 4,563 | 140,084 |
Ashland Global Holdings, Inc. | 834 | 76,962 |
Avery Dennison Corp. | 708 | 124,750 |
Avient Corp. | 1,285 | 67,321 |
Axalta Coating Systems Ltd. * | 2,529 | 68,384 |
Balchem Corp. | 172 | 23,794 |
Ball Corp. | 1,828 | 164,045 |
Berry Global Group, Inc. * | 1,749 | 106,077 |
Cabot Corp. | 1,070 | 78,281 |
Carpenter Technology Corp. | 1,583 | 60,771 |
Celanese Corp. | 1,669 | 232,458 |
Century Aluminum Co. * | 1,074 | 25,368 |
CF Industries Holdings, Inc. | 3,689 | 299,510 |
Clearwater Paper Corp. * | 770 | 22,199 |
Cleveland-Cliffs, Inc. * | 1,629 | 36,424 |
Commercial Metals Co. | 3,065 | 118,156 |
Compass Minerals International, Inc. | 668 | 39,158 |
Constellium SE * | 1,510 | 29,339 |
Corteva, Inc. | 6,393 | 332,628 |
Crown Holdings, Inc. | 1,137 | 139,476 |
Dow, Inc. | 11,326 | 667,781 |
DuPont de Nemours, Inc. | 11,813 | 913,972 |
Eagle Materials, Inc. | 403 | 55,143 |
Eastman Chemical Co. | 2,786 | 330,057 |
Ecolab, Inc. | 1,998 | 352,167 |
Element Solutions, Inc. | 1,816 | 44,637 |
Ferro Corp. * | 1,013 | 22,012 |
FMC Corp. | 765 | 89,696 |
Freeport-McMoRan, Inc. | 5,304 | 249,023 |
GCP Applied Technologies, Inc. * | 652 | 20,590 |
Glatfelter Corp. | 1,349 | 18,535 |
Graphic Packaging Holding Co. | 6,362 | 130,930 |
Greif, Inc., Class A | 648 | 37,254 |
H.B. Fuller Co. | 703 | 48,064 |
Hawkins, Inc. | 352 | 15,932 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Hecla Mining Co. | 3,407 | 19,624 |
Huntsman Corp. | 5,246 | 212,148 |
Ingevity Corp. * | 340 | 23,198 |
Innospec, Inc. | 398 | 38,009 |
International Flavors & Fragrances, Inc. | 948 | 126,084 |
International Paper Co. | 9,497 | 413,404 |
Kaiser Aluminum Corp. | 343 | 33,100 |
Koppers Holdings, Inc. * | 408 | 11,681 |
Kraton Corp. * | 821 | 37,889 |
Linde plc * | 3,969 | 1,163,870 |
Livent Corp. * | 707 | 16,650 |
Louisiana-Pacific Corp. | 1,238 | 89,074 |
LyondellBasell Industries N.V., Class A | 7,411 | 720,572 |
Martin Marietta Materials, Inc. | 482 | 182,871 |
Materion Corp. | 394 | 32,919 |
Minerals Technologies, Inc. | 625 | 43,744 |
Myers Industries, Inc. | 660 | 10,969 |
Neenah, Inc. | 516 | 20,098 |
NewMarket Corp. | 131 | 41,627 |
Newmont Corp. | 5,789 | 383,232 |
Nucor Corp. | 6,564 | 863,954 |
O-I Glass, Inc. * | 7,802 | 99,710 |
Olin Corp. | 2,586 | 133,205 |
Orion Engineered Carbons S.A. | 1,572 | 24,429 |
Packaging Corp. of America | 1,501 | 220,932 |
PPG Industries, Inc. | 3,086 | 411,827 |
Quaker Chemical Corp. | 58 | 10,765 |
Reliance Steel & Aluminum Co. | 1,888 | 360,363 |
Royal Gold, Inc. | 278 | 33,710 |
RPM International, Inc. | 1,281 | 108,334 |
Schnitzer Steel Industries, Inc., Class A | 830 | 40,380 |
Schweitzer-Mauduit International, Inc. | 769 | 24,008 |
Sealed Air Corp. | 2,744 | 184,205 |
Sensient Technologies Corp. | 491 | 40,326 |
Silgan Holdings, Inc. | 1,421 | 59,511 |
Sonoco Products Co. | 1,925 | 113,036 |
Southern Copper Corp. | 662 | 45,936 |
Steel Dynamics, Inc. | 4,570 | 322,551 |
Stepan Co. | 373 | 38,650 |
Summit Materials, Inc., Class A * | 1,412 | 44,083 |
SunCoke Energy, Inc. | 3,967 | 31,458 |
Sylvamo Corp. * | 898 | 31,340 |
The Chemours Co. | 3,588 | 99,029 |
The Mosaic Co. | 7,259 | 380,589 |
The Scotts Miracle-Gro Co. | 304 | 42,578 |
The Sherwin-Williams Co. | 1,099 | 289,180 |
Tredegar Corp. | 1,186 | 13,651 |
TriMas Corp. | 579 | 18,823 |
Trinseo plc | 1,183 | 61,469 |
Tronox Holdings plc, Class A | 1,195 | 24,259 |
United States Steel Corp. | 7,434 | 202,279 |
Valvoline, Inc. | 1,212 | 39,184 |
Verso Corp., Class A | 2,887 | 76,534 |
Vulcan Materials Co. | 885 | 160,583 |
Warrior Met Coal, Inc. | 3,613 | 113,810 |
Westlake Corp. | 635 | 70,047 |
Westrock Co. | 8,500 | 384,795 |
Worthington Industries, Inc. | 768 | 43,791 |
15,177,936 | ||
Media & Entertainment 4.1% | ||
Activision Blizzard, Inc. | 3,997 | 325,755 |
Alphabet, Inc., Class A * | 1,077 | 2,909,128 |
Alphabet, Inc., Class C * | 1,039 | 2,803,035 |
Altice USA, Inc., Class A * | 6,748 | 78,007 |
AMC Entertainment Holdings, Inc., Class A * | 992 | 18,709 |
AMC Networks, Inc., Class A * | 1,282 | 53,139 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Cable One, Inc. | 21 | 30,090 |
Cars.com, Inc. * | 1,683 | 27,231 |
Charter Communications, Inc., Class A * | 1,528 | 919,520 |
Cinemark Holdings, Inc. * | 4,262 | 74,755 |
Comcast Corp., Class A | 60,337 | 2,821,358 |
Discovery, Inc., Class A * | 2,683 | 75,258 |
Discovery, Inc., Class C * | 4,846 | 135,543 |
DISH Network Corp., Class A * | 4,097 | 130,940 |
Electronic Arts, Inc. | 2,291 | 298,036 |
Fox Corp., Class A | 5,508 | 230,400 |
Fox Corp., Class B | 2,635 | 100,815 |
Gannett Co., Inc. * | 5,507 | 27,315 |
Gray Television, Inc. | 1,618 | 37,910 |
iHeartMedia, Inc., Class A * | 2,280 | 48,906 |
IMAX Corp. * | 679 | 14,042 |
John Wiley & Sons, Inc., Class A | 733 | 36,877 |
Liberty Media Corp. - Liberty Formula One, Class C * | 858 | 52,106 |
Liberty Media Corp. - Liberty SiriusXM, Class A * | 2,314 | 116,533 |
Liberty Media Corp. - Liberty SiriusXM, Class C * | 4,910 | 247,071 |
Liberty TripAdvisor Holdings, Inc., Class A * | 3,660 | 7,759 |
Lions Gate Entertainment Corp., Class A * | 989 | 15,191 |
Lions Gate Entertainment Corp., Class B * | 1,846 | 26,305 |
Live Nation Entertainment, Inc. * | 551 | 66,572 |
Loyalty Ventures, Inc. * | 1,096 | 26,304 |
Madison Square Garden Entertainment Corp. * | 421 | 32,990 |
Madison Square Garden Sports Corp. * | 108 | 18,684 |
Match Group, Inc. * | 546 | 60,873 |
Meta Platforms, Inc., Class A * | 8,054 | 1,699,636 |
National CineMedia, Inc. | 4,754 | 14,119 |
Netflix, Inc. * | 294 | 115,989 |
News Corp., Class A | 5,847 | 130,505 |
News Corp., Class B | 1,860 | 41,720 |
Nexstar Media Group, Inc., Class A | 476 | 88,084 |
Omnicom Group, Inc. | 3,932 | 329,855 |
Paramount Global, Class B | 9,889 | 302,702 |
Scholastic Corp. | 969 | 40,775 |
Sinclair Broadcast Group, Inc., Class A | 1,780 | 53,400 |
Sirius XM Holdings, Inc. | 10,816 | 66,627 |
Spotify Technology S.A. * | 166 | 25,928 |
Take-Two Interactive Software, Inc. * | 426 | 69,012 |
TEGNA, Inc. | 3,845 | 88,127 |
The E.W. Scripps Co., Class A * | 750 | 16,695 |
The Interpublic Group of Cos., Inc. | 5,168 | 190,182 |
The Marcus Corp. * | 893 | 16,235 |
The New York Times Co., Class A | 929 | 40,867 |
The Walt Disney Co. * | 13,832 | 2,053,499 |
TripAdvisor, Inc. * | 1,298 | 33,021 |
Twitter, Inc. * | 1,412 | 50,197 |
World Wrestling Entertainment, Inc., Class A | 258 | 15,289 |
Yandex N.V., Class A *(c)(d) | 836 | 8,191 |
Yelp, Inc. * | 1,045 | 35,415 |
Ziff Davis, Inc. * | 405 | 40,743 |
Zynga, Inc., Class A * | 3,070 | 27,876 |
17,461,846 | ||
Pharmaceuticals, Biotechnology & Life Sciences 5.7% | ||
AbbVie, Inc. | 17,035 | 2,517,262 |
Agilent Technologies, Inc. | 1,471 | 191,760 |
Alkermes plc * | 674 | 16,756 |
Amgen, Inc. | 8,411 | 1,904,923 |
Avantor, Inc. * | 815 | 28,272 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Biogen, Inc. * | 2,238 | 472,240 |
BioMarin Pharmaceutical, Inc. * | 314 | 24,530 |
Bio-Rad Laboratories, Inc., Class A * | 66 | 41,313 |
Bio-Techne Corp. | 77 | 32,295 |
Bristol-Myers Squibb Co. | 19,040 | 1,307,477 |
Bruker Corp. | 513 | 36,100 |
Catalent, Inc. * | 406 | 41,428 |
Charles River Laboratories International, Inc. * | 147 | 42,801 |
Danaher Corp. | 1,852 | 508,207 |
Elanco Animal Health, Inc. * | 2,076 | 58,979 |
Eli Lilly & Co. | 2,916 | 728,854 |
Emergent BioSolutions, Inc. * | 316 | 13,076 |
Exelixis, Inc. * | 1,259 | 25,847 |
Gilead Sciences, Inc. | 33,589 | 2,028,776 |
Horizon Therapeutics plc * | 236 | 21,516 |
ICON plc * | 540 | 128,525 |
Illumina, Inc. * | 323 | 105,492 |
Incyte Corp. * | 485 | 33,126 |
IQVIA Holdings, Inc. * | 1,448 | 333,214 |
Jazz Pharmaceuticals plc * | 727 | 99,904 |
Johnson & Johnson | 26,539 | 4,367,523 |
Ligand Pharmaceuticals, Inc. * | 81 | 8,199 |
Medpace Holdings, Inc. * | 78 | 11,932 |
Merck & Co., Inc. | 32,081 | 2,456,763 |
Mettler-Toledo International, Inc. * | 96 | 135,239 |
Myriad Genetics, Inc. * | 1,088 | 26,525 |
Organon & Co. | 3,565 | 133,081 |
PerkinElmer, Inc. | 476 | 85,494 |
Perrigo Co., plc | 3,251 | 115,476 |
Pfizer, Inc. | 89,389 | 4,195,920 |
Prestige Consumer Healthcare, Inc. * | 564 | 33,575 |
Regeneron Pharmaceuticals, Inc. * | 463 | 286,301 |
Royalty Pharma plc, Class A | 266 | 10,443 |
Syneos Health, Inc. * | 539 | 42,689 |
Thermo Fisher Scientific, Inc. | 1,543 | 839,392 |
United Therapeutics Corp. * | 576 | 95,731 |
Vertex Pharmaceuticals, Inc. * | 404 | 92,928 |
Viatris, Inc. | 22,220 | 244,642 |
Waters Corp. * | 483 | 152,981 |
West Pharmaceutical Services, Inc. | 171 | 66,191 |
Zoetis, Inc. | 1,356 | 262,589 |
24,406,287 | ||
Real Estate 2.7% | ||
Acadia Realty Trust | 1,042 | 22,340 |
Alexander & Baldwin, Inc. | 1,845 | 41,383 |
Alexandria Real Estate Equities, Inc. | 499 | 94,511 |
American Assets Trust, Inc. | 553 | 20,218 |
American Campus Communities, Inc. | 1,535 | 82,598 |
American Homes 4 Rent, Class A | 1,303 | 49,527 |
American Tower Corp. | 1,662 | 377,058 |
Americold Realty Trust | 897 | 23,968 |
Apartment Income REIT Corp. | 1,601 | 82,628 |
Apple Hospitality REIT, Inc. | 5,611 | 99,259 |
AvalonBay Communities, Inc. | 966 | 230,478 |
Boston Properties, Inc. | 1,728 | 211,352 |
Brandywine Realty Trust | 3,331 | 44,402 |
Brixmor Property Group, Inc. | 4,633 | 116,381 |
Camden Property Trust | 633 | 104,515 |
CareTrust REIT, Inc. | 531 | 9,292 |
CBRE Group, Inc., Class A | 3,378 | 327,159 |
Centerspace | 188 | 17,670 |
Chatham Lodging Trust * | 1,600 | 22,000 |
Corporate Office Properties Trust | 1,540 | 40,363 |
Cousins Properties, Inc. | 947 | 36,583 |
Crown Castle International Corp. | 2,088 | 347,840 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
CubeSmart | 1,101 | 53,079 |
Cushman & Wakefield plc * | 1,383 | 30,315 |
CyrusOne, Inc. | 675 | 60,986 |
DiamondRock Hospitality Co. * | 5,172 | 49,393 |
Digital Realty Trust, Inc. | 1,320 | 178,094 |
DigitalBridge Group, Inc. * | 15,523 | 112,542 |
Diversified Healthcare Trust | 24,942 | 71,833 |
Douglas Elliman, Inc. * | 1,394 | 10,511 |
Douglas Emmett, Inc. | 1,632 | 51,734 |
Duke Realty Corp. | 1,715 | 90,895 |
Easterly Government Properties, Inc. | 573 | 11,930 |
EastGroup Properties, Inc. | 154 | 29,377 |
Empire State Realty Trust, Inc., Class A | 3,192 | 30,196 |
EPR Properties | 1,032 | 51,394 |
Equinix, Inc. | 373 | 264,729 |
Equity Commonwealth * | 1,176 | 31,246 |
Equity LifeStyle Properties, Inc. | 832 | 62,084 |
Equity Residential | 3,034 | 258,800 |
Essex Property Trust, Inc. | 408 | 129,405 |
Extra Space Storage, Inc. | 587 | 110,444 |
Federal Realty Investment Trust | 659 | 77,485 |
First Industrial Realty Trust, Inc. | 628 | 36,160 |
Gaming & Leisure Properties, Inc. | 1,590 | 72,202 |
Global Net Lease, Inc. | 1,290 | 18,331 |
Healthcare Realty Trust, Inc. | 1,310 | 34,165 |
Healthcare Trust of America, Inc., Class A | 1,808 | 53,137 |
Healthpeak Properties, Inc. | 5,249 | 163,034 |
Hersha Hospitality Trust * | 2,053 | 18,949 |
Highwoods Properties, Inc. | 1,332 | 58,075 |
Host Hotels & Resorts, Inc. * | 19,452 | 355,388 |
Hudson Pacific Properties, Inc. | 1,869 | 49,342 |
Independence Realty Trust, Inc. | 772 | 19,508 |
Industrial Logistics Properties Trust | 638 | 14,272 |
Invitation Homes, Inc. | 2,482 | 93,820 |
Iron Mountain, Inc. | 4,342 | 213,540 |
iStar, Inc. | 1,259 | 31,626 |
JBG SMITH Properties | 1,092 | 29,135 |
Jones Lang LaSalle, Inc. * | 908 | 223,568 |
Kennedy-Wilson Holdings, Inc. | 1,617 | 35,800 |
Kilroy Realty Corp. | 939 | 67,251 |
Kimco Realty Corp. | 6,683 | 157,251 |
Kite Realty Group Trust | 4,026 | 88,290 |
Lamar Advertising Co., Class A | 862 | 94,010 |
Life Storage, Inc. | 426 | 53,927 |
LTC Properties, Inc. | 386 | 13,058 |
LXP Industrial Trust | 2,731 | 42,221 |
Marcus & Millichap, Inc. * | 326 | 16,212 |
Medical Properties Trust, Inc. | 2,850 | 57,969 |
Mid-America Apartment Communities, Inc. | 711 | 145,478 |
National Health Investors, Inc. | 399 | 21,271 |
National Retail Properties, Inc. | 1,174 | 50,024 |
Newmark Group, Inc., Class A | 1,237 | 21,870 |
Office Properties Income Trust | 1,245 | 31,187 |
Omega Healthcare Investors, Inc. | 2,284 | 64,340 |
Orion Office REIT, Inc. * | 349 | 5,943 |
Outfront Media, Inc. | 2,836 | 75,721 |
Paramount Group, Inc. | 4,630 | 51,810 |
Park Hotels & Resorts, Inc. * | 7,337 | 138,229 |
Pebblebrook Hotel Trust | 2,478 | 55,780 |
Physicians Realty Trust | 1,583 | 25,740 |
Piedmont Office Realty Trust, Inc., Class A | 2,801 | 47,729 |
PotlatchDeltic Corp. | 621 | 34,093 |
Preferred Apartment Communities, Inc. | 1,708 | 43,144 |
Prologis, Inc. | 2,042 | 297,826 |
PS Business Parks, Inc. | 144 | 22,938 |
Public Storage | 719 | 255,259 |
Rayonier, Inc. | 1,304 | 51,769 |
Realogy Holdings Corp. * | 6,959 | 126,515 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Realty Income Corp. | 3,486 | 230,390 |
Regency Centers Corp. | 1,322 | 87,107 |
Retail Opportunity Investments Corp. | 1,275 | 23,154 |
Rexford Industrial Realty, Inc. | 251 | 17,603 |
RLJ Lodging Trust | 5,903 | 82,583 |
RPT Realty | 1,689 | 21,872 |
Ryman Hospitality Properties, Inc. * | 624 | 54,981 |
Sabra Health Care REIT, Inc. | 2,469 | 33,159 |
SBA Communications Corp. | 223 | 67,656 |
Seritage Growth Properties, Class A * | 701 | 7,143 |
Service Properties Trust | 10,810 | 93,290 |
Simon Property Group, Inc. | 3,381 | 465,090 |
SITE Centers Corp. | 3,140 | 48,827 |
SL Green Realty Corp. | 1,542 | 122,620 |
Spirit Realty Capital, Inc. | 993 | 46,045 |
STAG Industrial, Inc. | 711 | 27,701 |
STORE Capital Corp. | 1,155 | 35,482 |
Summit Hotel Properties, Inc. * | 2,689 | 26,594 |
Sun Communities, Inc. | 416 | 75,296 |
Sunstone Hotel Investors, Inc. * | 5,979 | 63,258 |
Tanger Factory Outlet Centers, Inc. | 2,182 | 36,396 |
Terreno Realty Corp. | 188 | 12,932 |
The Howard Hughes Corp. * | 241 | 23,035 |
The Macerich Co. | 5,618 | 85,955 |
The Necessity Retail REIT, Inc. | 1,825 | 12,848 |
UDR, Inc. | 1,822 | 99,973 |
Uniti Group, Inc. | 4,809 | 62,373 |
Urban Edge Properties | 1,628 | 29,662 |
Ventas, Inc. | 6,477 | 349,758 |
Veris Residential, Inc. * | 1,623 | 27,429 |
VICI Properties, Inc. | 2,135 | 59,695 |
Vornado Realty Trust | 3,259 | 141,049 |
Washington Real Estate Investment Trust | 1,197 | 27,962 |
Welltower, Inc. | 4,888 | 407,121 |
Weyerhaeuser Co. | 10,894 | 423,559 |
WP Carey, Inc. | 1,169 | 90,481 |
Xenia Hotels & Resorts, Inc. * | 2,965 | 54,971 |
Zillow Group, Inc., Class A * | 47 | 2,692 |
Zillow Group, Inc., Class C * | 114 | 6,557 |
11,429,203 | ||
Retailing 4.2% | ||
Abercrombie & Fitch Co., Class A * | 1,830 | 69,686 |
Advance Auto Parts, Inc. | 935 | 191,189 |
Amazon.com, Inc. * | 766 | 2,352,585 |
American Eagle Outfitters, Inc. | 3,524 | 74,286 |
America's Car-Mart, Inc. * | 85 | 8,175 |
Asbury Automotive Group, Inc. * | 456 | 88,514 |
AutoNation, Inc. * | 1,585 | 181,736 |
AutoZone, Inc. * | 129 | 240,377 |
Bath & Body Works, Inc. | 3,045 | 162,512 |
Bed Bath & Beyond, Inc. * | 9,088 | 153,496 |
Best Buy Co., Inc. | 5,179 | 500,499 |
Big 5 Sporting Goods Corp. (b) | 572 | 9,472 |
Big Lots, Inc. | 1,701 | 59,127 |
Boot Barn Holdings, Inc. * | 155 | 13,488 |
Burlington Stores, Inc. * | 331 | 74,770 |
Caleres, Inc. | 1,708 | 35,458 |
CarMax, Inc. * | 2,204 | 240,963 |
Chico's FAS, Inc. * | 13,986 | 65,734 |
Citi Trends, Inc. * | 183 | 6,828 |
Conn's, Inc. * | 933 | 17,111 |
Designer Brands, Inc., Class A * | 3,852 | 50,269 |
Dick's Sporting Goods, Inc. | 1,284 | 134,820 |
Dillard's, Inc., Class A | 376 | 94,267 |
Dollar General Corp. | 2,894 | 573,996 |
Dollar Tree, Inc. * | 3,049 | 433,202 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
eBay, Inc. | 9,753 | 532,416 |
Etsy, Inc. * | 57 | 8,829 |
Express, Inc. * | 9,194 | 43,764 |
Five Below, Inc. * | 160 | 26,178 |
Floor & Decor Holdings, Inc., Class A * | 231 | 22,088 |
Foot Locker, Inc. | 3,463 | 109,500 |
GameStop Corp., Class A *(b) | 868 | 107,059 |
Genesco, Inc. * | 786 | 50,422 |
Genuine Parts Co. | 2,362 | 288,542 |
Group 1 Automotive, Inc. | 647 | 117,709 |
Groupon, Inc. * | 1,224 | 26,585 |
Guess?, Inc. | 1,383 | 30,288 |
Haverty Furniture Cos., Inc. | 604 | 17,160 |
Hibbett, Inc. | 340 | 15,327 |
Kohl's Corp. | 9,156 | 509,257 |
Lithia Motors, Inc. | 336 | 114,516 |
LKQ Corp. | 4,193 | 196,861 |
Lowe's Cos., Inc. | 6,586 | 1,455,901 |
Macy's, Inc. | 24,248 | 628,508 |
MarineMax, Inc. * | 400 | 18,304 |
MercadoLibre, Inc. * | 12 | 13,520 |
Monro, Inc. | 458 | 21,379 |
Murphy USA, Inc. | 1,042 | 188,331 |
National Vision Holdings, Inc. * | 485 | 17,785 |
Nordstrom, Inc. * | 5,400 | 111,996 |
Ollie's Bargain Outlet Holdings, Inc. * | 344 | 14,854 |
O'Reilly Automotive, Inc. * | 651 | 422,655 |
Overstock.com, Inc. * | 160 | 9,104 |
Party City Holdco, Inc. * | 3,693 | 15,991 |
Penske Automotive Group, Inc. | 1,021 | 100,354 |
PetMed Express, Inc. | 398 | 10,726 |
Pool Corp. | 147 | 67,411 |
Qurate Retail, Inc., Class A | 23,186 | 127,755 |
Rent-A-Center, Inc. | 432 | 12,273 |
RH * | 28 | 11,252 |
Ross Stores, Inc. | 3,187 | 291,260 |
Sally Beauty Holdings, Inc. * | 3,461 | 59,806 |
Shoe Carnival, Inc. | 526 | 15,338 |
Signet Jewelers Ltd. | 1,302 | 91,791 |
Sleep Number Corp. * | 342 | 22,469 |
Sonic Automotive, Inc., Class A | 1,105 | 59,350 |
Stitch Fix, Inc., Class A * | 311 | 3,903 |
Target Corp. | 7,136 | 1,425,559 |
The Buckle, Inc. | 586 | 21,096 |
The Children's Place, Inc. * | 352 | 22,162 |
The Gap, Inc. | 6,817 | 99,187 |
The Home Depot, Inc. | 8,608 | 2,718,665 |
The ODP Corp. * | 3,443 | 151,492 |
The TJX Cos., Inc. | 14,031 | 927,449 |
Tractor Supply Co. | 1,069 | 217,852 |
TravelCenters of America, Inc. * | 1,001 | 42,272 |
Ulta Beauty, Inc. * | 411 | 153,920 |
Urban Outfitters, Inc. * | 2,316 | 63,713 |
Victoria's Secret & Co. * | 1,034 | 55,453 |
Williams-Sonoma, Inc. | 745 | 107,921 |
Zumiez, Inc. * | 460 | 20,465 |
17,868,283 | ||
Semiconductors & Semiconductor Equipment 3.5% | ||
Advanced Micro Devices, Inc. * | 3,227 | 398,018 |
Ambarella, Inc. * | 98 | 13,692 |
Amkor Technology, Inc. | 1,915 | 43,413 |
Analog Devices, Inc. | 2,930 | 469,650 |
Applied Materials, Inc. | 6,134 | 823,183 |
Azenta, Inc. | 218 | 19,079 |
Broadcom, Inc. | 2,296 | 1,348,762 |
Cirrus Logic, Inc. * | 816 | 70,886 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
CMC Materials, Inc. | 160 | 29,669 |
Diodes, Inc. * | 328 | 29,386 |
Entegris, Inc. | 376 | 49,060 |
First Solar, Inc. * | 766 | 57,672 |
FormFactor, Inc. * | 369 | 14,941 |
Intel Corp. | 83,269 | 3,971,931 |
KLA Corp. | 795 | 277,058 |
Kulicke & Soffa Industries, Inc. | 551 | 28,784 |
Lam Research Corp. | 746 | 418,767 |
Marvell Technology, Inc. | 2,126 | 145,270 |
Microchip Technology, Inc. | 2,151 | 151,280 |
Micron Technology, Inc. | 15,186 | 1,349,428 |
MKS Instruments, Inc. | 389 | 58,583 |
Monolithic Power Systems, Inc. | 58 | 26,605 |
NVIDIA Corp. | 2,593 | 632,303 |
NXP Semiconductor N.V. | 2,075 | 394,499 |
ON Semiconductor Corp. * | 3,156 | 197,597 |
Photronics, Inc. * | 1,495 | 27,538 |
Power Integrations, Inc. | 251 | 22,590 |
Qorvo, Inc. * | 1,114 | 152,373 |
QUALCOMM, Inc. | 10,464 | 1,799,703 |
Semtech Corp. * | 317 | 21,993 |
Silicon Laboratories, Inc. * | 162 | 24,901 |
Skyworks Solutions, Inc. | 1,665 | 230,053 |
SolarEdge Technologies, Inc. * | 65 | 20,762 |
Synaptics, Inc. * | 295 | 67,387 |
Teradyne, Inc. | 832 | 98,109 |
Texas Instruments, Inc. | 6,897 | 1,172,421 |
Ultra Clean Holdings, Inc. * | 323 | 14,797 |
Universal Display Corp. | 70 | 10,844 |
Wolfspeed, Inc. * | 495 | 50,846 |
14,733,833 | ||
Software & Services 5.5% | ||
Accenture plc, Class A | 3,831 | 1,210,673 |
ACI Worldwide, Inc. * | 918 | 30,771 |
Adobe, Inc. * | 852 | 398,463 |
Akamai Technologies, Inc. * | 1,333 | 144,311 |
Alliance Data Systems Corp. | 2,728 | 184,004 |
Amdocs Ltd. | 2,432 | 191,398 |
ANSYS, Inc. * | 230 | 74,564 |
Aspen Technology, Inc. * | 302 | 46,028 |
Autodesk, Inc. * | 274 | 60,343 |
Automatic Data Processing, Inc. | 2,680 | 547,899 |
Avaya Holdings Corp. * | 1,238 | 17,047 |
Black Knight, Inc. * | 715 | 40,176 |
Blackbaud, Inc. * | 230 | 14,373 |
Block, Inc. * | 92 | 11,730 |
Broadridge Financial Solutions, Inc. | 852 | 124,571 |
Cadence Design Systems, Inc. * | 722 | 109,332 |
CDK Global, Inc. | 2,394 | 108,544 |
Cerence, Inc. * | 236 | 8,522 |
Check Point Software Technologies Ltd. * | 1,102 | 159,658 |
Citrix Systems, Inc. | 1,697 | 173,942 |
Cognizant Technology Solutions Corp., Class A | 9,182 | 790,846 |
Cognyte Software Ltd. * | 513 | 5,725 |
CommVault Systems, Inc. * | 287 | 18,055 |
Concentrix Corp. | 305 | 60,966 |
Conduent, Inc. * | 8,768 | 42,700 |
Consensus Cloud Solutions, Inc. * | 127 | 7,069 |
CSG Systems International, Inc. | 558 | 34,440 |
Dolby Laboratories, Inc., Class A | 455 | 34,171 |
Dropbox, Inc., Class A * | 723 | 16,405 |
DXC Technology Co. * | 8,326 | 283,334 |
Ebix, Inc. | 575 | 16,968 |
Envestnet, Inc. * | 186 | 13,917 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
EPAM Systems, Inc. * | 96 | 19,944 |
Euronet Worldwide, Inc. * | 427 | 54,754 |
EVERTEC, Inc. | 466 | 18,808 |
ExlService Holdings, Inc. * | 235 | 28,386 |
Fair Isaac Corp. * | 101 | 47,590 |
Fidelity National Information Services, Inc. | 3,068 | 292,166 |
Fiserv, Inc. * | 1,888 | 184,401 |
FleetCor Technologies, Inc. * | 577 | 135,133 |
Fortinet, Inc. * | 164 | 56,501 |
Gartner, Inc. * | 273 | 76,555 |
Genpact Ltd. | 2,027 | 84,810 |
Global Payments, Inc. | 1,013 | 135,114 |
Globant S.A. * | 53 | 14,522 |
GoDaddy, Inc., Class A * | 386 | 32,196 |
Guidewire Software, Inc. * | 118 | 10,402 |
InterDigital, Inc. | 544 | 35,044 |
International Business Machines Corp. | 21,313 | 2,611,056 |
Intuit, Inc. | 750 | 355,777 |
Jack Henry & Associates, Inc. | 564 | 99,715 |
Kyndryl Holdings, Inc. * | 4,541 | 72,020 |
LiveRamp Holdings, Inc. * | 854 | 36,859 |
Manhattan Associates, Inc. * | 254 | 33,955 |
Mastercard, Inc., Class A | 2,774 | 1,000,915 |
Maximus, Inc. | 1,017 | 80,201 |
Microsoft Corp. | 26,417 | 7,893,135 |
MicroStrategy, Inc., Class A * | 21 | 9,303 |
NCR Corp. * | 2,679 | 108,553 |
NortonLifeLock, Inc. | 8,010 | 232,130 |
Nuance Communications, Inc. * | 609 | 33,812 |
Oracle Corp. | 22,737 | 1,727,330 |
Pagseguro Digital Ltd., Class A * | 388 | 6,185 |
Palo Alto Networks, Inc. * | 89 | 52,888 |
Paychex, Inc. | 2,136 | 254,312 |
Paycom Software, Inc. * | 47 | 15,943 |
PayPal Holdings, Inc. * | 2,136 | 239,082 |
Pegasystems, Inc. | 110 | 9,583 |
Perficient, Inc. * | 188 | 19,157 |
Progress Software Corp. | 478 | 21,070 |
PTC, Inc. * | 212 | 23,591 |
Sabre Corp. * | 9,915 | 108,371 |
salesforce.com, Inc. * | 1,090 | 229,478 |
ServiceNow, Inc. * | 34 | 19,717 |
Splunk, Inc. * | 184 | 21,730 |
SS&C Technologies Holdings, Inc. | 1,076 | 80,668 |
StoneCo Ltd., Class A * | 286 | 3,215 |
Synopsys, Inc. * | 375 | 117,146 |
Teradata Corp. * | 1,722 | 86,083 |
The Western Union Co. | 8,701 | 158,184 |
Tyler Technologies, Inc. * | 67 | 28,693 |
Unisys Corp. * | 844 | 18,036 |
Verint Systems, Inc. * | 420 | 21,097 |
VeriSign, Inc. * | 368 | 78,649 |
Visa, Inc., Class A | 5,769 | 1,246,796 |
VMware, Inc., Class A | 957 | 112,275 |
Vonage Holdings Corp. * | 1,427 | 28,997 |
WEX, Inc. * | 240 | 40,442 |
Workday, Inc., Class A * | 66 | 15,117 |
Xperi Holding Corp. | 1,061 | 18,377 |
23,576,914 | ||
Technology Hardware & Equipment 7.1% | ||
3D Systems Corp. * | 424 | 7,556 |
ADTRAN, Inc. | 950 | 19,561 |
Advanced Energy Industries, Inc. | 266 | 22,836 |
Amphenol Corp., Class A | 3,500 | 266,035 |
Apple Inc. | 106,052 | 17,511,306 |
Arista Networks, Inc. * | 546 | 67,011 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Arrow Electronics, Inc. * | 2,790 | 340,045 |
Avnet, Inc. | 9,516 | 400,338 |
Badger Meter, Inc. | 163 | 16,204 |
Belden, Inc. | 939 | 52,913 |
Benchmark Electronics, Inc. | 2,253 | 58,893 |
CDW Corp. | 1,222 | 210,746 |
Ciena Corp. * | 1,310 | 89,630 |
Cisco Systems, Inc. | 69,360 | 3,868,207 |
Cognex Corp. | 512 | 34,591 |
Coherent, Inc. * | 194 | 51,278 |
CommScope Holding Co., Inc. * | 5,055 | 48,225 |
Comtech Telecommunications Corp. | 549 | 11,298 |
Corning, Inc. | 18,262 | 737,785 |
CTS Corp. | 425 | 16,125 |
Dell Technologies, Inc., Class C * | 1,717 | 87,498 |
ePlus, Inc. * | 632 | 29,641 |
F5, Inc. * | 711 | 142,804 |
Fabrinet * | 347 | 34,745 |
Flex Ltd. * | 13,238 | 218,295 |
Hewlett Packard Enterprise Co. | 61,828 | 984,302 |
HP, Inc. | 21,848 | 750,697 |
II-VI, Inc. * | 459 | 31,882 |
Insight Enterprises, Inc. * | 808 | 84,032 |
IPG Photonics Corp. * | 259 | 33,761 |
Itron, Inc. * | 364 | 17,352 |
Jabil, Inc. | 4,093 | 236,616 |
Juniper Networks, Inc. | 9,082 | 306,881 |
Keysight Technologies, Inc. * | 510 | 80,259 |
Knowles Corp. * | 1,294 | 28,183 |
Littelfuse, Inc. | 167 | 43,121 |
Lumentum Holdings, Inc. * | 305 | 30,152 |
Methode Electronics, Inc. | 593 | 27,065 |
Motorola Solutions, Inc. | 1,280 | 282,150 |
National Instruments Corp. | 1,437 | 57,696 |
NetApp, Inc. | 3,799 | 297,766 |
NETGEAR, Inc. * | 697 | 18,547 |
NetScout Systems, Inc. * | 1,995 | 62,104 |
Novanta, Inc. * | 84 | 11,477 |
OSI Systems, Inc. * | 266 | 21,458 |
PC Connection, Inc. | 499 | 24,346 |
Plantronics, Inc. * | 816 | 22,987 |
Plexus Corp. * | 640 | 52,141 |
Rogers Corp. * | 130 | 35,490 |
Sanmina Corp. * | 2,989 | 118,902 |
ScanSource, Inc. * | 1,913 | 60,413 |
Seagate Technology Holdings plc | 4,059 | 418,726 |
Stratasys Ltd. * | 549 | 13,769 |
Super Micro Computer, Inc. * | 1,184 | 46,519 |
TD SYNNEX Corp. | 805 | 81,973 |
TE Connectivity Ltd. | 3,356 | 477,995 |
Teledyne Technologies, Inc. * | 351 | 150,712 |
Trimble, Inc. * | 1,079 | 75,260 |
TTM Technologies, Inc. * | 3,314 | 41,657 |
ViaSat, Inc. * | 732 | 33,408 |
Viavi Solutions, Inc. * | 1,128 | 18,499 |
Vishay Intertechnology, Inc. | 2,945 | 56,515 |
Western Digital Corp. * | 7,742 | 394,378 |
Xerox Holdings Corp. | 9,003 | 177,449 |
Zebra Technologies Corp., Class A * | 156 | 64,481 |
30,114,687 | ||
Telecommunication Services 3.1% | ||
AT&T, Inc. | 257,258 | 6,094,442 |
ATN International, Inc. | 334 | 11,132 |
Cogent Communications Holdings, Inc. | 323 | 20,478 |
Consolidated Communications Holdings, Inc. * | 4,891 | 34,824 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
EchoStar Corp., Class A * | 1,292 | 31,447 |
Iridium Communications, Inc. * | 522 | 20,666 |
Liberty Global plc, Class A * | 5,444 | 140,346 |
Liberty Global plc, Class C * | 11,536 | 298,436 |
Liberty Latin America Ltd., Class A * | 1,139 | 11,447 |
Liberty Latin America Ltd., Class C * | 3,933 | 39,684 |
Lumen Technologies, Inc. | 58,282 | 603,802 |
Shenandoah Telecommunications Co. | 593 | 13,254 |
Telephone and Data Systems, Inc. | 6,605 | 114,597 |
T-Mobile US, Inc. * | 4,097 | 504,792 |
United States Cellular Corp. * | 587 | 16,148 |
Verizon Communications, Inc. | 100,539 | 5,395,928 |
13,351,423 | ||
Transportation 2.2% | ||
Air Transport Services Group, Inc. * | 1,024 | 32,266 |
Alaska Air Group, Inc. * | 931 | 52,266 |
Allegiant Travel Co. * | 83 | 14,449 |
AMERCO | 96 | 55,451 |
American Airlines Group, Inc. * | 9,019 | 155,578 |
ArcBest Corp. | 722 | 66,915 |
Atlas Air Worldwide Holdings, Inc. * | 570 | 44,665 |
Atlas Corp. | 1,381 | 19,928 |
Avis Budget Group, Inc. * | 2,120 | 388,893 |
C.H. Robinson Worldwide, Inc. | 2,978 | 287,913 |
Copa Holdings S.A., Class A * | 189 | 16,035 |
Costamare, Inc. | 974 | 13,149 |
CSX Corp. | 27,763 | 941,443 |
Delta Air Lines, Inc. * | 6,015 | 240,119 |
Expeditors International of Washington, Inc. | 2,127 | 219,847 |
FedEx Corp. | 4,225 | 939,091 |
Forward Air Corp. | 429 | 44,264 |
GXO Logistics, Inc. * | 1,244 | 104,409 |
Hawaiian Holdings, Inc. * | 822 | 15,766 |
Heartland Express, Inc. | 1,017 | 14,604 |
Hub Group, Inc., Class A * | 973 | 82,121 |
J.B. Hunt Transport Services, Inc. | 1,015 | 205,974 |
JetBlue Airways Corp. * | 3,408 | 52,040 |
Kirby Corp. * | 1,277 | 83,197 |
Knight-Swift Transportation Holdings, Inc. | 1,942 | 105,800 |
Landstar System, Inc. | 586 | 90,484 |
Marten Transport Ltd. | 1,309 | 22,580 |
Mesa Air Group, Inc. * | 1,429 | 6,216 |
Norfolk Southern Corp. | 2,880 | 738,778 |
Old Dominion Freight Line, Inc. | 501 | 157,329 |
Ryder System, Inc. | 2,490 | 196,312 |
Saia, Inc. * | 160 | 45,957 |
Schneider National, Inc., Class B | 1,700 | 44,404 |
SkyWest, Inc. * | 436 | 12,256 |
Southwest Airlines Co. * | 4,012 | 175,726 |
Spirit Airlines, Inc. * | 615 | 15,424 |
Uber Technologies, Inc. * | 1,371 | 49,397 |
Union Pacific Corp. | 8,176 | 2,010,887 |
United Airlines Holdings, Inc. * | 3,757 | 166,811 |
United Parcel Service, Inc., Class B | 5,206 | 1,095,446 |
Werner Enterprises, Inc. | 1,495 | 64,973 |
XPO Logistics, Inc. * | 1,362 | 98,990 |
Yellow Corp. * | 1,718 | 15,479 |
9,203,632 | ||
Utilities 3.7% | ||
ALLETE, Inc. | 932 | 58,660 |
Alliant Energy Corp. | 2,751 | 160,658 |
Ameren Corp. | 3,392 | 291,542 |
American Electric Power Co., Inc. | 7,787 | 705,892 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
American States Water Co. | 261 | 21,966 |
American Water Works Co., Inc. | 1,158 | 174,962 |
Atlantica Sustainable Infrastructure plc | 810 | 27,338 |
Atmos Energy Corp. | 1,468 | 161,201 |
Avangrid, Inc. | 949 | 42,582 |
Avista Corp. | 1,391 | 62,080 |
Black Hills Corp. | 983 | 68,800 |
California Water Service Group | 394 | 22,430 |
CenterPoint Energy, Inc. | 10,528 | 287,941 |
Chesapeake Utilities Corp. | 138 | 18,347 |
Clearway Energy, Inc., Class A | 248 | 7,586 |
Clearway Energy, Inc., Class C | 576 | 19,238 |
CMS Energy Corp. | 3,989 | 255,336 |
Consolidated Edison, Inc. | 7,046 | 604,335 |
Constellation Energy Corp. | 7,923 | 364,300 |
Dominion Energy, Inc. | 10,676 | 849,062 |
DTE Energy Co. | 2,792 | 339,479 |
Duke Energy Corp. | 12,621 | 1,267,275 |
Edison International | 6,644 | 421,363 |
Entergy Corp. | 3,242 | 341,091 |
Essential Utilities, Inc. | 1,263 | 59,500 |
Evergy, Inc. | 5,872 | 366,472 |
Eversource Energy | 4,172 | 341,270 |
Exelon Corp. | 23,771 | 1,011,694 |
FirstEnergy Corp. | 11,966 | 500,777 |
Hawaiian Electric Industries, Inc. | 1,786 | 73,190 |
IDACORP, Inc. | 635 | 66,008 |
MGE Energy, Inc. | 344 | 24,775 |
National Fuel Gas Co. | 1,145 | 71,265 |
New Jersey Resources Corp. | 1,426 | 62,202 |
NextEra Energy, Inc. | 12,993 | 1,016,962 |
NiSource, Inc. | 6,630 | 191,806 |
Northwest Natural Holding Co. | 535 | 27,825 |
NorthWestern Corp. | 963 | 58,242 |
NRG Energy, Inc. | 3,934 | 148,863 |
OGE Energy Corp. | 3,529 | 132,514 |
ONE Gas, Inc. | 835 | 69,380 |
Ormat Technologies, Inc. | 307 | 21,904 |
Otter Tail Corp. | 568 | 35,137 |
PG&E Corp. * | 10,285 | 116,940 |
Pinnacle West Capital Corp. | 2,312 | 163,759 |
PNM Resources, Inc. | 1,098 | 49,597 |
Portland General Electric Co. | 1,787 | 90,726 |
PPL Corp. | 17,307 | 452,924 |
Public Service Enterprise Group, Inc. | 7,725 | 500,812 |
Sempra Energy | 3,602 | 519,480 |
SJW Group | 212 | 13,827 |
South Jersey Industries, Inc. | 1,548 | 52,524 |
Southwest Gas Holdings, Inc. | 1,210 | 85,837 |
Spire, Inc. | 909 | 61,003 |
The AES Corp. | 13,038 | 276,797 |
The Southern Co. | 16,096 | 1,042,538 |
UGI Corp. | 4,069 | 156,412 |
Unitil Corp. | 313 | 15,803 |
Vistra Corp. | 15,629 | 356,654 |
WEC Energy Group, Inc. | 3,629 | 329,804 |
Xcel Energy, Inc. | 6,970 | 469,290 |
15,607,977 | ||
Total Common Stocks (Cost $309,595,721) | 424,182,432 | |
SECURITY | NUMBER OF SHARES | VALUE ($) |
INVESTMENT COMPANIES 0.1% OF NET ASSETS | ||
Equity Funds 0.1% | ||
iShares Core S&P Total U.S. Stock Market ETF | 2,800 | 274,624 |
Total Investment Companies (Cost $263,728) | 274,624 |
SHORT-TERM INVESTMENTS 0.1% OF NET ASSETS | ||
Money Market Funds 0.1% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (e) | 154,298 | 154,298 |
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (e)(f) | 186,600 | 186,600 |
340,898 | ||
Total Short-Term Investments (Cost $340,898) | 340,898 | |
Total Investments in Securities (Cost $310,200,347) | 424,797,954 |
NUMBER OF CONTRACTS | NOTIONAL AMOUNT ($) | CURRENT VALUE/ UNREALIZED DEPRECIATION ($) | |
FUTURES CONTRACTS | |||
Long | |||
S&P 500 Index, e-mini, expires 03/18/22 | 4 | 873,600 | (23,474) |
* | 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 $182,762. |
(c) | Trading in Russian securities listed on the Moscow Exchange, Russian ADRs, and Russian GDRs had ceased and suspended the fund’s ability to buy or sell these securities as of February 28, 2022. |
(d) | Fair valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees. |
(e) | The rate shown is the 7-day yield. |
(f) | Security purchased with cash collateral received for securities on loan. |
ADR — | American Depositary Receipt |
ETF — | Exchange traded fund |
GDR — | Global Depositary Receipt |
REIT — | Real Estate Investment Trust |
VALUE AT 2/28/21 | PURCHASES | SALES | REALIZED GAINS (LOSSES) | NET CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) | VALUE AT 2/28/22 | BALANCE OF SHARES HELD AT 2/28/22 | DIVIDENDS RECEIVED | |
COMMON STOCKS 0.1% OF NET ASSETS | ||||||||
Diversified Financials 0.1% | ||||||||
The Charles Schwab Corp. | $370,567 | $127,014 | ($259,500) | $77,709 | $36,746 | $352,536 | 4,174 | $3,808 |
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 Stocks1 | $406,720,586 | $— | $— | $406,720,586 |
Media & Entertainment | 17,453,655 | — | 8,191 2 | 17,461,846 |
Investment Companies1 | 274,624 | — | — | 274,624 |
Short-Term Investments1 | 340,898 | — | — | 340,898 |
Liabilities | ||||
Futures Contracts3 | (23,474) | — | — | (23,474) |
Total | $424,766,289 | $— | $8,191 | $424,774,480 |
1 | As categorized in the Portfolio Holdings. |
2 | Trading in Russian securities listed on the Moscow Exchange, Russian ADRs, and Russian GDRs had ceased and suspended the fund’s ability to buy or sell these securities as of February 28, 2022. |
3 | Futures contracts are reported at cumulative unrealized appreciation or depreciation. |
Assets | ||
Investments in securities, at value - affiliated (cost $169,309) | $352,536 | |
Investments in securities, at value - unaffiliated (cost $310,031,038) including securities on loan of $182,762 | 424,445,418 | |
Deposit with broker for futures contracts | 57,500 | |
Receivables: | ||
Dividends | 868,799 | |
Income from securities on loan | + | 88 |
Total assets | 425,724,341 | |
Liabilities | ||
Collateral held for securities on loan | 186,600 | |
Payables: | ||
Investments bought | 112,866 | |
Management fees | 81,945 | |
Variation margin on futures contracts | + | 2,400 |
Total liabilities | 383,811 | |
Net assets | $425,340,530 | |
Net Assets by Source | ||
Capital received from investors | $327,846,854 | |
Total distributable earnings | + | 97,493,676 |
Net assets | $425,340,530 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$425,340,530 | 7,550,000 | $56.34 | ||
For the period March 1, 2021 through February 28, 2022 | ||
Investment Income | ||
Dividends received from securities - unaffiliated (net of foreign withholding tax of $1,099) | $7,732,615 | |
Dividends received from securities - affiliated | 3,808 | |
Securities on loan, net | + | 4,781 |
Total investment income | 7,741,204 | |
Expenses | ||
Management fees | 948,944 | |
Total expenses | – | 948,944 |
Net investment income | 6,792,260 | |
REALIZED AND UNREALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - affiliated | 27,830 | |
Net realized losses on sales of securities - unaffiliated | (4,585,873) | |
Net realized gains on sales of in-kind redemptions - affiliated | 49,879 | |
Net realized gains on sales of in-kind redemptions - unaffiliated | 11,394,471 | |
Net realized gains on futures contracts | + | 57,109 |
Net realized gains | 6,943,416 | |
Net change in unrealized appreciation (depreciation) on securities - affiliated | 36,746 | |
Net change in unrealized appreciation (depreciation) on securities - unaffiliated | 44,224,233 | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (10,590) |
Net change in unrealized appreciation (depreciation) | + | 44,250,389 |
Net realized and unrealized gains | 51,193,805 | |
Increase in net assets resulting from operations | $57,986,065 |
OPERATIONS | |||
3/1/21-2/28/22 | 3/1/20-2/28/21 | ||
Net investment income | $6,792,260 | $5,688,763 | |
Net realized gains | 6,943,416 | 14,112,119 | |
Net change in unrealized appreciation (depreciation) | + | 44,250,389 | 48,236,523 |
Increase in net assets resulting from operations | $57,986,065 | $68,037,405 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Total distributions | ($6,475,295) | ($6,024,890) |
TRANSACTIONS IN FUND SHARES | |||||
3/1/21-2/28/22 | 3/1/20-2/28/21 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 1,950,000 | $105,060,157 | 500,000 | $20,303,160 | |
Shares redeemed | + | (300,000) | (15,956,138) | (1,650,000) | (59,607,587) |
Net transactions in fund shares | 1,650,000 | $89,104,019 | (1,150,000) | ($39,304,427) | |
SHARES OUTSTANDING AND NET ASSETS | |||||
3/1/21-2/28/22 | 3/1/20-2/28/21 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 5,900,000 | $284,725,741 | 7,050,000 | $262,017,653 | |
Total increase (decrease) | + | 1,650,000 | 140,614,789 | (1,150,000) | 22,708,088 |
End of period | 7,550,000 | $425,340,530 | 5,900,000 | $284,725,741 |
3/1/21– 2/28/22 | 3/1/20– 2/28/21 | 3/1/19– 2/29/20 | 3/1/18– 2/28/19 | 3/1/17– 2/28/18 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $48.49 | $37.67 | $37.83 | $37.20 | $33.91 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 1.02 | 0.98 | 0.99 | 0.87 | 0.78 | |
Net realized and unrealized gains (losses) | 8.43 | 10.88 | (0.20) | 0.57 | 3.21 | |
Total from investment operations | 9.45 | 11.86 | 0.79 | 1.44 | 3.99 | |
Less distributions: | ||||||
Distributions from net investment income | (0.96) | (1.04) | (0.95) | (0.81) | (0.70) | |
Net asset value at end of period | $56.98 | $48.49 | $37.67 | $37.83 | $37.20 | |
Total return | 19.61% | 32.40% | 1.98% | 3.92% | 11.91% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | |
Net investment income (loss) | 1.84% | 2.49% | 2.47% | 2.33% | 2.22% | |
Portfolio turnover rate2 | 11% | 13% | 12% | 11% | 9% | |
Net assets, end of period (x 1,000) | $9,889,450 | $5,862,523 | $5,557,983 | $4,596,260 | $4,016,040 |
1 | Calculated based on the average shares outstanding during the period. |
2 | Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions. |
SECURITY | NUMBER OF SHARES | VALUE ($) |
COMMON STOCKS 99.8% OF NET ASSETS | ||
Automobiles & Components 1.7% | ||
Adient plc * | 77,655 | 3,475,061 |
Aptiv plc * | 57,610 | 7,457,038 |
Autoliv, Inc. | 40,919 | 3,601,281 |
BorgWarner, Inc. | 149,820 | 6,144,118 |
Dana, Inc. | 113,691 | 2,116,927 |
Ford Motor Co. | 3,521,157 | 61,831,517 |
General Motors Co. * | 1,025,643 | 47,918,041 |
Gentex Corp. | 97,901 | 2,963,463 |
Harley-Davidson, Inc. | 92,215 | 3,808,480 |
Lear Corp. | 53,017 | 8,341,695 |
Tesla, Inc. * | 3,395 | 2,955,110 |
The Goodyear Tire & Rubber Co. * | 505,819 | 7,835,136 |
Thor Industries, Inc. | 29,014 | 2,625,767 |
Visteon Corp. * | 30,916 | 3,715,176 |
164,788,810 | ||
Banks 6.9% | ||
Bank of America Corp. | 2,671,180 | 118,066,156 |
Citigroup, Inc. | 1,633,808 | 96,770,448 |
Citizens Financial Group, Inc. | 184,423 | 9,667,454 |
Comerica, Inc. | 74,750 | 7,137,877 |
Credicorp Ltd. | 40,346 | 6,102,332 |
East West Bancorp, Inc. | 27,989 | 2,450,717 |
Fifth Third Bancorp | 284,182 | 13,595,267 |
First Republic Bank | 13,468 | 2,333,466 |
Huntington Bancshares, Inc. | 404,113 | 6,271,834 |
JPMorgan Chase & Co. | 1,057,172 | 149,906,990 |
KeyCorp | 306,522 | 7,684,507 |
M&T Bank Corp. | 66,029 | 12,032,465 |
New York Community Bancorp, Inc. | 184,112 | 2,124,652 |
PacWest Bancorp | 49,859 | 2,464,032 |
People's United Financial, Inc. | 115,585 | 2,436,532 |
Popular, Inc. | 29,637 | 2,722,158 |
Regions Financial Corp. | 307,106 | 7,428,894 |
SVB Financial Group * | 4,537 | 2,749,422 |
The PNC Financial Services Group, Inc. | 147,229 | 29,335,378 |
Truist Financial Corp. | 258,944 | 16,111,496 |
U.S. Bancorp | 568,038 | 32,116,868 |
Wells Fargo & Co. | 2,849,817 | 152,094,733 |
Zions Bancorp NA | 68,432 | 4,851,144 |
686,454,822 | ||
Capital Goods 7.0% | ||
3M Co. | 201,017 | 29,881,177 |
A.O. Smith Corp. | 36,329 | 2,491,443 |
Acuity Brands, Inc. | 17,541 | 3,198,952 |
AECOM | 73,316 | 5,327,141 |
AerCap Holdings N.V. * | 105,536 | 5,744,325 |
AGCO Corp. | 27,059 | 3,251,409 |
Allegion plc | 15,508 | 1,775,976 |
Allison Transmission Holdings, Inc. | 96,262 | 3,844,704 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
AMETEK, Inc. | 35,867 | 4,655,178 |
Carlisle Cos., Inc. | 19,576 | 4,647,342 |
Carrier Global Corp. | 317,857 | 14,265,422 |
Caterpillar, Inc. | 155,539 | 29,176,006 |
Cummins, Inc. | 68,823 | 14,048,151 |
Curtiss-Wright Corp. | 16,414 | 2,421,393 |
Deere & Co. | 58,233 | 20,965,045 |
Donaldson Co., Inc. | 35,746 | 1,939,935 |
Dover Corp. | 35,211 | 5,523,197 |
Eaton Corp. plc | 136,953 | 21,130,478 |
EMCOR Group, Inc. | 29,972 | 3,462,965 |
Emerson Electric Co. | 207,805 | 19,309,241 |
Fastenal Co. | 109,720 | 5,646,191 |
Flowserve Corp. | 63,093 | 1,916,134 |
Fluor Corp. * | 230,131 | 4,984,637 |
Fortive Corp. | 49,448 | 3,201,758 |
Fortune Brands Home & Security, Inc. | 42,257 | 3,672,133 |
GATX Corp. | 21,572 | 2,300,222 |
General Dynamics Corp. | 115,810 | 27,151,655 |
General Electric Co. | 577,970 | 55,201,915 |
Graco, Inc. | 25,672 | 1,850,694 |
Hexcel Corp. | 41,882 | 2,424,968 |
Honeywell International, Inc. | 175,650 | 33,329,588 |
Howmet Aerospace, Inc. | 159,352 | 5,723,924 |
Hubbell, Inc. | 16,276 | 2,901,197 |
Huntington Ingalls Industries, Inc. | 23,387 | 4,780,303 |
IDEX Corp. | 12,367 | 2,373,227 |
Illinois Tool Works, Inc. | 79,748 | 17,252,682 |
ITT, Inc. | 23,048 | 2,025,228 |
Johnson Controls International plc | 217,901 | 14,154,849 |
L3Harris Technologies, Inc. | 37,938 | 9,572,137 |
Lennox International, Inc. | 6,455 | 1,723,033 |
Lincoln Electric Holdings, Inc. | 19,137 | 2,439,202 |
Lockheed Martin Corp. | 75,241 | 32,639,546 |
Masco Corp. | 74,991 | 4,202,496 |
MasTec, Inc. * | 21,443 | 1,688,851 |
MDU Resources Group, Inc. | 93,735 | 2,509,286 |
MSC Industrial Direct Co., Inc., Class A | 25,226 | 1,954,511 |
Nordson Corp. | 9,866 | 2,234,550 |
Northrop Grumman Corp. | 52,339 | 23,141,165 |
nVent Electric plc | 61,081 | 2,072,478 |
Oshkosh Corp. | 33,727 | 3,745,046 |
Otis Worldwide Corp. | 70,493 | 5,521,717 |
Owens Corning | 52,238 | 4,868,059 |
PACCAR, Inc. | 163,047 | 14,969,345 |
Parker-Hannifin Corp. | 34,372 | 10,187,517 |
Pentair plc | 42,940 | 2,486,655 |
Quanta Services, Inc. | 50,727 | 5,526,199 |
Raytheon Technologies Corp. | 320,587 | 32,924,285 |
Regal Rexnord Corp. | 20,910 | 3,352,919 |
Rockwell Automation, Inc. | 24,554 | 6,545,605 |
Roper Technologies, Inc. | 11,516 | 5,161,702 |
Sensata Technologies Holding plc * | 45,018 | 2,606,992 |
Snap-on, Inc. | 20,690 | 4,348,624 |
Spirit AeroSystems Holdings, Inc., Class A | 108,100 | 5,405,000 |
Stanley Black & Decker, Inc. | 41,577 | 6,764,578 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Textron, Inc. | 107,301 | 7,846,922 |
The Boeing Co. * | 223,914 | 45,978,501 |
The Toro Co. | 19,648 | 1,843,179 |
Trane Technologies plc | 44,215 | 6,806,015 |
TransDigm Group, Inc. * | 9,714 | 6,475,255 |
UFP Industries, Inc. | 30,877 | 2,647,703 |
United Rentals, Inc. * | 26,975 | 8,675,700 |
Univar Solutions, Inc. * | 97,600 | 2,997,296 |
W.W. Grainger, Inc. | 16,304 | 7,777,986 |
Watsco, Inc. | 9,408 | 2,568,949 |
WESCO International, Inc. * | 33,268 | 4,049,714 |
Westinghouse Air Brake Technologies Corp. | 36,879 | 3,423,109 |
Xylem, Inc. | 27,118 | 2,412,146 |
690,044,758 | ||
Commercial & Professional Services 0.8% | ||
ABM Industries, Inc. | 47,126 | 2,112,659 |
Booz Allen Hamilton Holding Corp. | 32,482 | 2,620,973 |
CACI International, Inc., Class A * | 8,460 | 2,367,023 |
Cintas Corp. | 13,889 | 5,212,819 |
Copart, Inc. * | 16,373 | 2,011,914 |
CoreCivic, Inc. * | 228,332 | 2,080,105 |
Equifax, Inc. | 13,011 | 2,840,822 |
Jacobs Engineering Group, Inc. | 43,510 | 5,351,730 |
KBR, Inc. | 53,312 | 2,646,408 |
Kelly Services, Inc., Class A | 90,487 | 1,920,134 |
Leidos Holdings, Inc. | 57,368 | 5,842,357 |
ManpowerGroup, Inc. | 71,117 | 7,558,315 |
Nielsen Holdings plc | 226,025 | 3,937,355 |
Republic Services, Inc. | 55,628 | 6,690,936 |
Robert Half International, Inc. | 46,923 | 5,644,368 |
Science Applications International Corp. | 26,971 | 2,365,087 |
Verisk Analytics, Inc. | 13,926 | 2,469,637 |
Waste Management, Inc. | 105,161 | 15,185,248 |
78,857,890 | ||
Consumer Durables & Apparel 1.3% | ||
Brunswick Corp. | 28,787 | 2,749,734 |
Capri Holdings Ltd. * | 79,861 | 5,409,784 |
Carter's, Inc. | 26,121 | 2,525,378 |
D.R. Horton, Inc. | 106,101 | 9,061,025 |
Garmin Ltd. | 25,496 | 2,815,778 |
Hanesbrands, Inc. | 201,999 | 3,120,885 |
Hasbro, Inc. | 35,779 | 3,472,352 |
Leggett & Platt, Inc. | 64,494 | 2,391,438 |
Lennar Corp., Class A | 93,258 | 8,382,029 |
Lululemon Athletica, Inc. * | 8,283 | 2,650,063 |
Mattel, Inc. * | 95,120 | 2,376,098 |
Mohawk Industries, Inc. * | 29,370 | 4,134,709 |
Newell Brands, Inc. | 152,846 | 3,630,092 |
NIKE, Inc., Class B | 163,662 | 22,348,046 |
NVR, Inc. * | 1,084 | 5,374,949 |
Polaris, Inc. | 24,383 | 2,962,778 |
PulteGroup, Inc. | 141,759 | 7,039,752 |
PVH Corp. | 53,849 | 5,271,279 |
Ralph Lauren Corp. | 28,251 | 3,730,262 |
Skechers U.S.A., Inc., Class A * | 48,813 | 2,244,422 |
Tapestry, Inc. | 112,589 | 4,604,890 |
Taylor Morrison Home Corp. * | 64,707 | 1,908,856 |
Toll Brothers, Inc. | 55,028 | 2,985,819 |
Tri Pointe Homes, Inc. * | 87,791 | 1,963,885 |
Under Armour, Inc., Class A * | 46,047 | 823,781 |
Under Armour, Inc., Class C * | 47,950 | 749,459 |
VF Corp. | 109,046 | 6,326,849 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Whirlpool Corp. | 37,548 | 7,557,286 |
128,611,678 | ||
Consumer Services 2.1% | ||
Aramark | 133,405 | 4,930,649 |
Booking Holdings, Inc. * | 10,670 | 23,177,907 |
Carnival Corp. * | 457,861 | 9,308,314 |
Chipotle Mexican Grill, Inc. * | 2,352 | 3,582,919 |
Cracker Barrel Old Country Store, Inc. | 14,412 | 1,935,099 |
Darden Restaurants, Inc. | 31,264 | 4,540,158 |
Domino's Pizza, Inc. | 8,703 | 3,761,524 |
Expedia Group, Inc. * | 35,627 | 6,986,811 |
H&R Block, Inc. | 94,344 | 2,340,675 |
Hilton Worldwide Holdings, Inc. * | 47,510 | 7,072,339 |
Las Vegas Sands Corp. * | 176,273 | 7,555,061 |
Marriott International, Inc., Class A * | 56,615 | 9,632,476 |
Marriott Vacations Worldwide Corp. | 12,554 | 2,017,051 |
McDonald's Corp. | 180,367 | 44,148,431 |
MGM Resorts International | 178,993 | 7,927,600 |
Norwegian Cruise Line Holdings Ltd. * | 193,572 | 3,772,718 |
Royal Caribbean Cruises Ltd. * | 99,443 | 8,027,039 |
Service Corp. International | 38,094 | 2,318,020 |
Six Flags Entertainment Corp. * | 50,846 | 2,219,936 |
Starbucks Corp. | 281,929 | 25,878,263 |
The Wendy's Co. | 88,243 | 2,006,646 |
Travel & Leisure Co. | 45,172 | 2,531,891 |
Vail Resorts, Inc. | 6,729 | 1,753,241 |
Wynn Resorts Ltd. * | 33,699 | 2,915,637 |
Yum China Holdings, Inc. | 89,060 | 4,632,901 |
Yum! Brands, Inc. | 80,713 | 9,893,799 |
204,867,105 | ||
Diversified Financials 6.0% | ||
Affiliated Managers Group, Inc. | 18,630 | 2,577,647 |
AGNC Investment Corp. | 150,179 | 1,938,811 |
Ally Financial, Inc. | 242,109 | 12,081,239 |
American Express Co. | 220,927 | 42,979,139 |
Ameriprise Financial, Inc. | 46,907 | 14,062,250 |
Annaly Capital Management, Inc. | 363,469 | 2,529,744 |
Berkshire Hathaway, Inc., Class B * | 568,055 | 182,601,280 |
BlackRock, Inc. | 24,266 | 18,051,235 |
Capital One Financial Corp. | 244,676 | 37,501,491 |
Cboe Global Markets, Inc. | 17,404 | 2,041,315 |
CME Group, Inc. | 41,081 | 9,716,889 |
Discover Financial Services | 177,677 | 21,932,449 |
Equitable Holdings, Inc. | 110,461 | 3,607,656 |
Evercore, Inc., Class A | 15,642 | 1,986,690 |
Franklin Resources, Inc. | 246,124 | 7,317,267 |
Intercontinental Exchange, Inc. | 70,264 | 9,002,224 |
Invesco Ltd. | 212,643 | 4,516,537 |
Jackson Financial, Inc., Class A | 18,256 | 746,488 |
Janus Henderson Group plc | 53,529 | 1,796,969 |
Jefferies Financial Group, Inc. | 80,479 | 2,860,224 |
KKR & Co., Inc. | 86,461 | 5,198,035 |
Lazard Ltd., Class A | 52,672 | 1,821,398 |
LPL Financial Holdings, Inc. | 20,537 | 3,716,170 |
Moody's Corp. | 16,329 | 5,258,428 |
Morgan Stanley | 354,527 | 32,169,780 |
MSCI, Inc. | 4,777 | 2,396,573 |
Nasdaq, Inc. | 15,042 | 2,574,438 |
Navient Corp. | 302,643 | 5,329,543 |
New Residential Investment Corp. | 336,111 | 3,488,832 |
Northern Trust Corp. | 55,731 | 6,347,761 |
OneMain Holdings, Inc. | 38,327 | 1,953,910 |
PROG Holdings, Inc. * | 39,660 | 1,215,182 |
Raymond James Financial, Inc. | 40,843 | 4,478,435 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
S&P Global, Inc. | 38,942 | 14,630,470 |
SEI Investments Co. | 37,230 | 2,180,933 |
Starwood Property Trust, Inc. | 93,158 | 2,220,887 |
State Street Corp. | 124,237 | 10,601,143 |
Synchrony Financial | 503,357 | 21,533,612 |
T. Rowe Price Group, Inc. | 60,593 | 8,759,324 |
The Bank of New York Mellon Corp. | 409,996 | 21,791,287 |
The Charles Schwab Corp. (a) | 104,791 | 8,850,648 |
The Goldman Sachs Group, Inc. | 115,556 | 39,438,107 |
Voya Financial, Inc. | 41,237 | 2,777,312 |
588,579,752 | ||
Energy 9.9% | ||
Antero Resources Corp. * | 202,344 | 4,639,748 |
APA Corp. | 155,241 | 5,531,237 |
Baker Hughes Co. | 556,368 | 16,346,092 |
Cheniere Energy, Inc. | 31,300 | 4,159,770 |
Chevron Corp. | 1,267,152 | 182,469,888 |
ConocoPhillips | 665,152 | 63,096,319 |
Coterra Energy, Inc. | 209,730 | 4,893,001 |
Delek US Holdings, Inc. * | 136,125 | 2,345,434 |
Devon Energy Corp. | 122,776 | 7,311,311 |
Diamondback Energy, Inc. | 44,401 | 6,131,778 |
DTE Midstream LLC * | 33,250 | 1,765,575 |
EOG Resources, Inc. | 186,976 | 21,487,282 |
Exxon Mobil Corp. | 3,474,041 | 272,434,295 |
Halliburton Co. | 431,684 | 14,474,364 |
Helmerich & Payne, Inc. | 131,094 | 4,749,536 |
Hess Corp. | 46,265 | 4,675,541 |
HollyFrontier Corp. * | 273,942 | 8,341,534 |
Kinder Morgan, Inc. | 1,153,467 | 20,070,326 |
Marathon Oil Corp. | 556,293 | 12,549,970 |
Marathon Petroleum Corp. | 720,853 | 56,132,823 |
Murphy Oil Corp. | 127,563 | 4,422,609 |
Nabors Industries Ltd. * | 23,296 | 2,924,580 |
NOV, Inc. | 579,966 | 9,946,417 |
Occidental Petroleum Corp. | 625,303 | 27,344,500 |
ONEOK, Inc. | 171,741 | 11,214,687 |
Ovintiv, Inc. | 97,837 | 4,485,826 |
Patterson-UTI Energy, Inc. | 263,186 | 3,797,774 |
PBF Energy, Inc., Class A * | 451,491 | 7,503,780 |
Peabody Energy Corp. * | 313,394 | 5,434,252 |
Phillips 66 | 616,462 | 51,930,759 |
Pioneer Natural Resources Co. | 42,060 | 10,077,576 |
Schlumberger N.V. | 866,799 | 34,013,193 |
Targa Resources Corp. | 136,140 | 8,899,472 |
TechnipFMC plc * | 472,606 | 3,237,351 |
The Williams Cos., Inc. | 463,526 | 14,499,093 |
Transocean Ltd. * | 724,699 | 2,565,434 |
Valero Energy Corp. | 687,453 | 57,409,200 |
World Fuel Services Corp. | 274,488 | 7,778,990 |
981,091,317 | ||
Food & Staples Retailing 3.0% | ||
Casey's General Stores, Inc. | 18,370 | 3,455,030 |
Costco Wholesale Corp. | 117,185 | 60,848,311 |
Performance Food Group Co. * | 149,711 | 8,389,805 |
Rite Aid Corp. * | 150,974 | 1,382,922 |
SpartanNash Co. | 108,343 | 3,048,772 |
Sprouts Farmers Market, Inc. * | 84,294 | 2,400,693 |
Sysco Corp. | 197,510 | 17,203,121 |
The Kroger Co. | 826,918 | 38,699,762 |
United Natural Foods, Inc. * | 92,077 | 3,704,258 |
US Foods Holding Corp. * | 212,559 | 8,308,931 |
Walgreens Boots Alliance, Inc. | 1,038,069 | 47,844,600 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Walmart, Inc. | 763,825 | 103,238,587 |
298,524,792 | ||
Food, Beverage & Tobacco 4.2% | ||
Altria Group, Inc. | 864,182 | 44,323,895 |
Archer-Daniels-Midland Co. | 497,959 | 39,064,884 |
Bunge Ltd. | 143,518 | 15,004,807 |
Campbell Soup Co. | 73,456 | 3,303,316 |
Coca-Cola Europacific Partners plc | 102,789 | 5,263,825 |
Conagra Brands, Inc. | 169,520 | 5,928,114 |
Constellation Brands, Inc., Class A | 33,181 | 7,154,487 |
Darling Ingredients, Inc. * | 30,658 | 2,222,092 |
Flowers Foods, Inc. | 91,666 | 2,512,565 |
General Mills, Inc. | 219,134 | 14,776,206 |
Hormel Foods Corp. | 98,929 | 4,712,978 |
Ingredion, Inc. | 48,920 | 4,341,161 |
Kellogg Co. | 97,258 | 6,218,677 |
Keurig Dr Pepper, Inc. | 101,442 | 3,922,762 |
McCormick & Co., Inc. Non-Voting Shares | 38,771 | 3,689,836 |
Molson Coors Beverage Co., Class B | 134,768 | 7,032,194 |
Mondelez International, Inc., Class A | 477,881 | 31,291,648 |
Monster Beverage Corp. * | 51,226 | 4,323,474 |
PepsiCo, Inc. | 363,227 | 59,474,789 |
Philip Morris International, Inc. | 479,635 | 48,476,709 |
Post Holdings, Inc. * | 21,246 | 2,233,804 |
Sanderson Farms, Inc. | 14,140 | 2,525,263 |
The Coca-Cola Co. | 857,937 | 53,397,999 |
The Hershey Co. | 25,217 | 5,100,390 |
The J.M. Smucker Co. | 56,323 | 7,589,524 |
The Kraft Heinz Co. | 328,647 | 12,889,535 |
Tyson Foods, Inc., Class A | 238,416 | 22,091,627 |
418,866,561 | ||
Health Care Equipment & Services 6.3% | ||
Abbott Laboratories | 214,923 | 25,924,012 |
Align Technology, Inc. * | 3,192 | 1,632,580 |
AmerisourceBergen Corp. | 89,450 | 12,749,308 |
Anthem, Inc. | 124,789 | 56,385,910 |
Baxter International, Inc. | 132,370 | 11,247,479 |
Becton Dickinson & Co. | 43,400 | 11,773,552 |
Boston Scientific Corp. * | 149,724 | 6,613,309 |
Cardinal Health, Inc. | 406,321 | 21,945,397 |
Centene Corp. * | 220,638 | 18,229,112 |
Cerner Corp. | 93,004 | 8,672,623 |
Cigna Corp. | 108,385 | 25,771,785 |
CVS Health Corp. | 869,218 | 90,094,446 |
DaVita, Inc. * | 57,535 | 6,488,222 |
Dentsply Sirona, Inc. | 60,185 | 3,258,416 |
Edwards Lifesciences Corp. * | 32,971 | 3,704,951 |
Encompass Health Corp. | 32,555 | 2,149,281 |
Envista Holdings Corp. * | 55,556 | 2,666,688 |
HCA Healthcare, Inc. | 86,425 | 21,633,042 |
Henry Schein, Inc. * | 65,317 | 5,642,082 |
Hologic, Inc. * | 39,029 | 2,777,694 |
Humana, Inc. | 66,791 | 29,008,667 |
Intuitive Surgical, Inc. * | 16,196 | 4,702,185 |
Laboratory Corp. of America Holdings * | 24,465 | 6,636,376 |
McKesson Corp. | 126,809 | 34,867,403 |
Medtronic plc | 353,290 | 37,091,917 |
Molina Healthcare, Inc. * | 17,166 | 5,267,730 |
Patterson Cos., Inc. | 67,655 | 2,022,885 |
Quest Diagnostics, Inc. | 52,974 | 6,953,897 |
ResMed, Inc. | 11,547 | 2,849,222 |
STERIS plc | 16,202 | 3,888,480 |
Stryker Corp. | 45,454 | 11,970,311 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Tenet Healthcare Corp. * | 57,849 | 4,974,436 |
The Cooper Cos., Inc. | 5,054 | 2,067,187 |
UnitedHealth Group, Inc. | 249,642 | 118,797,139 |
Universal Health Services, Inc., Class B | 50,432 | 7,258,678 |
Zimmer Biomet Holdings, Inc. | 42,618 | 5,420,583 |
623,136,985 | ||
Household & Personal Products 1.3% | ||
Church & Dwight Co., Inc. | 50,251 | 4,917,060 |
Colgate-Palmolive Co. | 191,152 | 14,709,146 |
Kimberly-Clark Corp. | 83,243 | 10,834,077 |
Nu Skin Enterprises, Inc., Class A | 38,506 | 1,786,293 |
The Clorox Co. | 29,007 | 4,228,931 |
The Estee Lauder Cos., Inc., Class A | 22,797 | 6,755,435 |
The Procter & Gamble Co. | 572,289 | 89,214,132 |
132,445,074 | ||
Insurance 3.8% | ||
Aflac, Inc. | 327,383 | 19,999,827 |
Alleghany Corp. * | 5,260 | 3,481,699 |
American Financial Group, Inc. | 22,665 | 3,068,614 |
American International Group, Inc. | 840,799 | 51,490,531 |
Aon plc, Class A | 46,676 | 13,635,927 |
Arch Capital Group Ltd. * | 82,287 | 3,876,541 |
Arthur J. Gallagher & Co. | 27,809 | 4,399,106 |
Assurant, Inc. | 15,343 | 2,603,860 |
Assured Guaranty Ltd. | 72,249 | 4,477,270 |
Axis Capital Holdings Ltd. | 38,584 | 2,107,458 |
Brown & Brown, Inc. | 35,370 | 2,391,366 |
Chubb Ltd. | 122,065 | 24,857,317 |
Cincinnati Financial Corp. | 41,848 | 5,138,516 |
CNO Financial Group, Inc. | 101,105 | 2,443,708 |
Everest Re Group Ltd. | 16,203 | 4,832,059 |
Fidelity National Financial, Inc. | 116,344 | 5,542,628 |
First American Financial Corp. | 49,799 | 3,338,525 |
Genworth Financial, Inc., Class A * | 755,553 | 3,067,545 |
Globe Life, Inc. | 40,399 | 4,078,683 |
Lincoln National Corp. | 107,750 | 7,264,505 |
Loews Corp. | 126,237 | 7,743,378 |
Markel Corp. * | 3,100 | 3,853,021 |
Marsh & McLennan Cos., Inc. | 93,139 | 14,474,732 |
MetLife, Inc. | 392,564 | 26,517,698 |
Old Republic International Corp. | 148,683 | 3,917,797 |
Primerica, Inc. | 13,485 | 1,751,567 |
Principal Financial Group, Inc. | 114,835 | 8,111,944 |
Prudential Financial, Inc. | 256,489 | 28,639,562 |
Reinsurance Group of America, Inc. | 37,692 | 4,178,535 |
The Allstate Corp. | 175,519 | 21,476,505 |
The Hanover Insurance Group, Inc. | 17,685 | 2,467,234 |
The Hartford Financial Services Group, Inc. | 177,273 | 12,316,928 |
The Progressive Corp. | 144,711 | 15,329,236 |
The Travelers Cos., Inc. | 193,963 | 33,328,662 |
Unum Group | 219,210 | 6,120,343 |
W.R. Berkley Corp. | 43,042 | 3,886,693 |
Willis Towers Watson plc | 22,083 | 4,909,051 |
371,118,571 | ||
Materials 3.3% | ||
Air Products and Chemicals, Inc. | 38,480 | 9,092,824 |
Albemarle Corp. | 17,950 | 3,516,225 |
Alcoa Corp. | 147,458 | 11,109,486 |
AptarGroup, Inc. | 14,621 | 1,782,007 |
Arconic Corp. * | 114,662 | 3,520,123 |
Ashland Global Holdings, Inc. | 21,032 | 1,940,833 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Avery Dennison Corp. | 17,822 | 3,140,236 |
Axalta Coating Systems Ltd. * | 63,629 | 1,720,528 |
Ball Corp. | 45,828 | 4,112,605 |
Berry Global Group, Inc. * | 44,439 | 2,695,225 |
Celanese Corp. | 41,805 | 5,822,600 |
CF Industries Holdings, Inc. | 93,187 | 7,565,852 |
Commercial Metals Co. | 77,123 | 2,973,092 |
Corteva, Inc. | 161,553 | 8,405,603 |
Crown Holdings, Inc. | 28,532 | 3,500,020 |
Dow, Inc. | 284,890 | 16,797,114 |
DuPont de Nemours, Inc. | 297,254 | 22,998,542 |
Eastman Chemical Co. | 70,168 | 8,312,803 |
Ecolab, Inc. | 50,079 | 8,826,925 |
FMC Corp. | 19,144 | 2,244,634 |
Freeport-McMoRan, Inc. | 134,332 | 6,306,887 |
Graphic Packaging Holding Co. | 159,955 | 3,291,874 |
Huntsman Corp. | 131,984 | 5,337,433 |
International Flavors & Fragrances, Inc. | 23,699 | 3,151,967 |
International Paper Co. | 238,333 | 10,374,635 |
Linde plc * | 99,665 | 29,225,765 |
LyondellBasell Industries N.V., Class A | 186,416 | 18,125,228 |
Martin Marietta Materials, Inc. | 12,078 | 4,582,393 |
Newmont Corp. | 145,403 | 9,625,679 |
Nucor Corp. | 165,141 | 21,735,858 |
O-I Glass, Inc. * | 195,875 | 2,503,282 |
Olin Corp. | 65,666 | 3,382,456 |
Packaging Corp. of America | 37,486 | 5,517,564 |
PPG Industries, Inc. | 77,368 | 10,324,760 |
Reliance Steel & Aluminum Co. | 47,163 | 9,002,002 |
RPM International, Inc. | 32,173 | 2,720,871 |
Sealed Air Corp. | 69,261 | 4,649,491 |
Sonoco Products Co. | 48,997 | 2,877,104 |
Steel Dynamics, Inc. | 115,796 | 8,172,882 |
Sylvamo Corp. * | 21,676 | 756,492 |
The Chemours Co. | 90,331 | 2,493,136 |
The Mosaic Co. | 182,327 | 9,559,405 |
The Sherwin-Williams Co. | 27,512 | 7,239,233 |
United States Steel Corp. | 188,608 | 5,132,024 |
Vulcan Materials Co. | 22,275 | 4,041,799 |
Westrock Co. | 214,427 | 9,707,110 |
329,914,607 | ||
Media & Entertainment 4.1% | ||
Activision Blizzard, Inc. | 100,976 | 8,229,544 |
Alphabet, Inc., Class A * | 27,085 | 73,160,377 |
Alphabet, Inc., Class C * | 26,109 | 70,437,382 |
Altice USA, Inc., Class A * | 169,261 | 1,956,657 |
Charter Communications, Inc., Class A * | 38,441 | 23,133,025 |
Cinemark Holdings, Inc. * | 106,280 | 1,864,151 |
Comcast Corp., Class A | 1,518,062 | 70,984,579 |
Discovery, Inc., Class A *(b) | 67,799 | 1,901,762 |
Discovery, Inc., Class C * | 120,754 | 3,377,489 |
DISH Network Corp., Class A * | 102,610 | 3,279,416 |
Electronic Arts, Inc. | 57,641 | 7,498,518 |
Fox Corp., Class A | 139,286 | 5,826,333 |
Fox Corp., Class B | 66,187 | 2,532,315 |
Liberty Media Corp. - Liberty SiriusXM, Class A * | 57,514 | 2,896,405 |
Liberty Media Corp. - Liberty SiriusXM, Class C * | 122,787 | 6,178,642 |
Loyalty Ventures, Inc. * | 26,988 | 647,712 |
Match Group, Inc. * | 13,989 | 1,559,634 |
Meta Platforms, Inc., Class A * | 202,577 | 42,749,824 |
Netflix, Inc. * | 7,422 | 2,928,128 |
News Corp., Class A | 146,615 | 3,272,447 |
News Corp., Class B | 45,354 | 1,017,290 |
Omnicom Group, Inc. | 99,220 | 8,323,566 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Paramount Global, Class B | 247,515 | 7,576,434 |
The Interpublic Group of Cos., Inc. | 129,694 | 4,772,739 |
The Walt Disney Co. * | 347,930 | 51,653,688 |
Twitter, Inc. * | 35,411 | 1,258,861 |
409,016,918 | ||
Pharmaceuticals, Biotechnology & Life Sciences 6.0% | ||
AbbVie, Inc. | 428,011 | 63,247,185 |
Agilent Technologies, Inc. | 36,951 | 4,816,932 |
Amgen, Inc. | 211,618 | 47,927,245 |
Biogen, Inc. * | 56,255 | 11,870,368 |
Bristol-Myers Squibb Co. | 478,321 | 32,846,303 |
Danaher Corp. | 46,558 | 12,775,981 |
Eli Lilly & Co. | 73,251 | 18,309,087 |
Gilead Sciences, Inc. | 844,542 | 51,010,337 |
ICON plc * | 13,411 | 3,191,952 |
Illumina, Inc. * | 8,237 | 2,690,204 |
IQVIA Holdings, Inc. * | 36,223 | 8,335,637 |
Jazz Pharmaceuticals plc * | 17,898 | 2,459,543 |
Johnson & Johnson | 667,091 | 109,783,166 |
Merck & Co., Inc. | 806,929 | 61,794,623 |
Mettler-Toledo International, Inc. * | 2,418 | 3,406,333 |
Organon & Co. | 90,680 | 3,385,084 |
Perrigo Co., plc | 81,483 | 2,894,276 |
Pfizer, Inc. | 2,246,885 | 105,468,782 |
Regeneron Pharmaceuticals, Inc. * | 11,705 | 7,237,904 |
Thermo Fisher Scientific, Inc. | 38,775 | 21,093,600 |
United Therapeutics Corp. * | 14,254 | 2,369,015 |
Vertex Pharmaceuticals, Inc. * | 10,025 | 2,305,951 |
Viatris, Inc. | 560,930 | 6,175,839 |
Waters Corp. * | 12,213 | 3,868,223 |
Zoetis, Inc. | 34,064 | 6,596,494 |
595,860,064 | ||
Real Estate 2.1% | ||
Alexandria Real Estate Equities, Inc. | 12,783 | 2,421,100 |
American Tower Corp. | 41,764 | 9,474,999 |
Apartment Income REIT Corp. | 40,873 | 2,109,456 |
Apple Hospitality REIT, Inc. | 140,963 | 2,493,635 |
AvalonBay Communities, Inc. | 24,377 | 5,816,108 |
Boston Properties, Inc. | 43,542 | 5,325,622 |
Brixmor Property Group, Inc. | 116,234 | 2,919,798 |
Camden Property Trust | 15,957 | 2,634,660 |
CBRE Group, Inc., Class A | 84,632 | 8,196,609 |
Crown Castle International Corp. | 52,561 | 8,756,137 |
Digital Realty Trust, Inc. | 32,837 | 4,430,368 |
DigitalBridge Group, Inc. * | 390,034 | 2,827,747 |
Diversified Healthcare Trust | 625,070 | 1,800,202 |
Duke Realty Corp. | 42,976 | 2,277,728 |
Equinix, Inc. | 9,374 | 6,653,009 |
Equity Residential | 76,583 | 6,532,530 |
Essex Property Trust, Inc. | 10,367 | 3,288,101 |
Extra Space Storage, Inc. | 14,779 | 2,780,669 |
Healthpeak Properties, Inc. | 131,979 | 4,099,268 |
Host Hotels & Resorts, Inc. * | 487,438 | 8,905,492 |
Invitation Homes, Inc. | 63,258 | 2,391,152 |
Iron Mountain, Inc. | 110,169 | 5,418,111 |
Jones Lang LaSalle, Inc. * | 23,018 | 5,667,492 |
Kimco Realty Corp. | 167,711 | 3,946,240 |
Lamar Advertising Co., Class A | 21,409 | 2,334,866 |
Mid-America Apartment Communities, Inc. | 17,773 | 3,636,534 |
Omega Healthcare Investors, Inc. | 57,219 | 1,611,859 |
Orion Office REIT, Inc. * | 8,450 | 143,904 |
Park Hotels & Resorts, Inc. * | 184,225 | 3,470,799 |
Prologis, Inc. | 51,186 | 7,465,478 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Public Storage | 18,097 | 6,424,797 |
Realogy Holdings Corp. * | 174,761 | 3,177,155 |
Realty Income Corp. | 86,781 | 5,735,356 |
Regency Centers Corp. | 32,720 | 2,155,921 |
RLJ Lodging Trust | 147,796 | 2,067,666 |
Service Properties Trust | 271,216 | 2,340,594 |
Simon Property Group, Inc. | 84,698 | 11,651,057 |
SL Green Realty Corp. | 39,181 | 3,115,673 |
The Macerich Co. | 140,916 | 2,156,015 |
UDR, Inc. | 45,547 | 2,499,164 |
Ventas, Inc. | 163,138 | 8,809,452 |
Vornado Realty Trust | 82,816 | 3,584,276 |
Welltower, Inc. | 123,399 | 10,277,903 |
Weyerhaeuser Co. | 274,005 | 10,653,314 |
WP Carey, Inc. | 29,947 | 2,317,898 |
206,795,914 | ||
Retailing 4.3% | ||
Advance Auto Parts, Inc. | 23,578 | 4,821,229 |
Amazon.com, Inc. * | 19,271 | 59,186,251 |
American Eagle Outfitters, Inc. | 88,364 | 1,862,713 |
Asbury Automotive Group, Inc. * | 11,501 | 2,232,459 |
AutoNation, Inc. * | 40,147 | 4,603,255 |
AutoZone, Inc. * | 3,233 | 6,024,340 |
Bath & Body Works, Inc. | 76,509 | 4,083,285 |
Bed Bath & Beyond, Inc. * | 228,059 | 3,851,916 |
Best Buy Co., Inc. | 129,581 | 12,522,708 |
Big Lots, Inc. | 42,321 | 1,471,078 |
Burlington Stores, Inc. * | 8,345 | 1,885,052 |
CarMax, Inc. * | 55,088 | 6,022,771 |
Dick's Sporting Goods, Inc. | 32,629 | 3,426,045 |
Dollar General Corp. | 72,584 | 14,396,311 |
Dollar Tree, Inc. * | 76,777 | 10,908,476 |
eBay, Inc. | 244,635 | 13,354,625 |
Foot Locker, Inc. | 87,101 | 2,754,134 |
GameStop Corp., Class A *(b) | 21,967 | 2,709,410 |
Genuine Parts Co. | 59,167 | 7,227,841 |
Group 1 Automotive, Inc. | 16,503 | 3,002,391 |
Kohl's Corp. | 230,579 | 12,824,804 |
Lithia Motors, Inc. | 8,602 | 2,931,734 |
LKQ Corp. | 105,790 | 4,966,840 |
Lowe's Cos., Inc. | 165,691 | 36,627,652 |
Macy's, Inc. | 608,922 | 15,783,258 |
Murphy USA, Inc. | 26,003 | 4,699,782 |
Nordstrom, Inc. * | 135,803 | 2,816,554 |
O'Reilly Automotive, Inc. * | 16,342 | 10,609,880 |
Penske Automotive Group, Inc. | 26,061 | 2,561,536 |
Qurate Retail, Inc., Class A | 582,256 | 3,208,231 |
Ross Stores, Inc. | 79,515 | 7,266,876 |
Signet Jewelers Ltd. | 32,628 | 2,300,274 |
Target Corp. | 179,093 | 35,777,409 |
The Gap, Inc. | 171,103 | 2,489,549 |
The Home Depot, Inc. | 216,410 | 68,348,770 |
The ODP Corp. * | 87,333 | 3,842,652 |
The TJX Cos., Inc. | 352,911 | 23,327,417 |
Tractor Supply Co. | 26,948 | 5,491,733 |
Ulta Beauty, Inc. * | 10,438 | 3,909,031 |
Urban Outfitters, Inc. * | 57,869 | 1,591,976 |
Victoria's Secret & Co. * | 25,887 | 1,388,320 |
Williams-Sonoma, Inc. | 18,792 | 2,722,209 |
421,832,777 | ||
Semiconductors & Semiconductor Equipment 3.6% | ||
Advanced Micro Devices, Inc. * | 81,140 | 10,007,876 |
Analog Devices, Inc. | 73,719 | 11,816,419 |
Applied Materials, Inc. | 154,436 | 20,725,311 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Broadcom, Inc. | 57,726 | 33,910,561 |
Intel Corp. | 2,093,013 | 99,836,720 |
KLA Corp. | 20,038 | 6,983,243 |
Lam Research Corp. | 18,657 | 10,473,107 |
Marvell Technology, Inc. | 53,285 | 3,640,964 |
Microchip Technology, Inc. | 54,548 | 3,836,361 |
Micron Technology, Inc. | 381,542 | 33,903,822 |
NVIDIA Corp. | 65,025 | 15,856,346 |
NXP Semiconductor N.V. | 52,143 | 9,913,427 |
ON Semiconductor Corp. * | 79,956 | 5,006,045 |
Qorvo, Inc. * | 28,025 | 3,833,260 |
QUALCOMM, Inc. | 263,206 | 45,268,800 |
Skyworks Solutions, Inc. | 42,171 | 5,826,767 |
Teradyne, Inc. | 20,974 | 2,473,254 |
Texas Instruments, Inc. | 173,260 | 29,452,467 |
352,764,750 | ||
Software & Services 5.6% | ||
Accenture plc, Class A | 96,377 | 30,457,060 |
Adobe, Inc. * | 21,516 | 10,062,603 |
Akamai Technologies, Inc. * | 33,336 | 3,608,955 |
Alliance Data Systems Corp. | 68,834 | 4,642,853 |
Amdocs Ltd. | 61,038 | 4,803,691 |
ANSYS, Inc. * | 5,755 | 1,865,713 |
Autodesk, Inc. * | 6,801 | 1,497,784 |
Automatic Data Processing, Inc. | 67,458 | 13,791,114 |
Broadridge Financial Solutions, Inc. | 21,224 | 3,103,161 |
Cadence Design Systems, Inc. * | 18,106 | 2,741,792 |
CDK Global, Inc. | 60,085 | 2,724,254 |
Check Point Software Technologies Ltd. * | 27,905 | 4,042,876 |
Citrix Systems, Inc. | 42,987 | 4,406,168 |
Cognizant Technology Solutions Corp., Class A | 231,067 | 19,901,801 |
DXC Technology Co. * | 208,584 | 7,098,114 |
Fidelity National Information Services, Inc. | 77,175 | 7,349,375 |
Fiserv, Inc. * | 47,264 | 4,616,275 |
FleetCor Technologies, Inc. * | 14,572 | 3,412,762 |
Genpact Ltd. | 50,381 | 2,107,941 |
Global Payments, Inc. | 25,515 | 3,403,191 |
International Business Machines Corp. | 535,735 | 65,632,895 |
Intuit, Inc. | 18,901 | 8,966,067 |
Jack Henry & Associates, Inc. | 13,974 | 2,470,603 |
Kyndryl Holdings, Inc. * | 113,674 | 1,802,870 |
Mastercard, Inc., Class A | 69,703 | 25,150,236 |
Maximus, Inc. | 25,538 | 2,013,927 |
Microsoft Corp. | 664,118 | 198,431,817 |
NCR Corp. * | 67,487 | 2,734,573 |
NortonLifeLock, Inc. | 201,350 | 5,835,123 |
Oracle Corp. | 571,767 | 43,437,139 |
Paychex, Inc. | 53,724 | 6,396,379 |
PayPal Holdings, Inc. * | 53,718 | 6,012,656 |
Sabre Corp. * | 248,845 | 2,719,876 |
salesforce.com, Inc. * | 27,404 | 5,769,364 |
SS&C Technologies Holdings, Inc. | 27,235 | 2,041,808 |
Synopsys, Inc. * | 9,353 | 2,921,784 |
Teradata Corp. * | 43,112 | 2,155,169 |
The Western Union Co. | 218,913 | 3,979,838 |
VeriSign, Inc. * | 9,213 | 1,969,002 |
Visa, Inc., Class A | 144,881 | 31,311,682 |
557,390,291 | ||
Technology Hardware & Equipment 7.3% | ||
Amphenol Corp., Class A | 87,957 | 6,685,611 |
Apple Inc. | 2,666,279 | 440,255,988 |
Arrow Electronics, Inc. * | 70,193 | 8,555,123 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Avnet, Inc. | 239,640 | 10,081,655 |
CDW Corp. | 30,906 | 5,330,049 |
Cisco Systems, Inc. | 1,743,556 | 97,238,118 |
Corning, Inc. | 458,890 | 18,539,156 |
Dell Technologies, Inc., Class C * | 42,980 | 2,190,261 |
F5, Inc. * | 17,716 | 3,558,259 |
Flex Ltd. * | 332,134 | 5,476,890 |
Hewlett Packard Enterprise Co. | 1,552,984 | 24,723,505 |
HP, Inc. | 548,822 | 18,857,524 |
Insight Enterprises, Inc. * | 20,470 | 2,128,880 |
Jabil, Inc. | 102,847 | 5,945,585 |
Juniper Networks, Inc. | 229,590 | 7,757,846 |
Keysight Technologies, Inc. * | 12,979 | 2,042,505 |
Motorola Solutions, Inc. | 32,182 | 7,093,878 |
NetApp, Inc. | 95,168 | 7,459,268 |
Sanmina Corp. * | 76,435 | 3,040,584 |
Seagate Technology Holdings plc | 102,019 | 10,524,280 |
TD SYNNEX Corp. | 20,242 | 2,061,243 |
TE Connectivity Ltd. | 84,378 | 12,017,958 |
Teledyne Technologies, Inc. * | 8,741 | 3,753,211 |
Trimble, Inc. * | 27,237 | 1,899,781 |
Western Digital Corp. * | 193,695 | 9,866,823 |
Xerox Holdings Corp. | 226,149 | 4,457,397 |
Zebra Technologies Corp., Class A * | 3,882 | 1,604,586 |
723,145,964 | ||
Telecommunication Services 3.4% | ||
AT&T, Inc. | 6,465,712 | 153,172,717 |
Liberty Global plc, Class A * | 137,496 | 3,544,647 |
Liberty Global plc, Class C * | 288,804 | 7,471,359 |
Lumen Technologies, Inc. | 1,463,971 | 15,166,740 |
Telephone and Data Systems, Inc. | 165,535 | 2,872,032 |
T-Mobile US, Inc. * | 102,637 | 12,645,905 |
Verizon Communications, Inc. | 2,527,879 | 135,671,266 |
330,544,666 | ||
Transportation 2.1% | ||
American Airlines Group, Inc. * | 226,652 | 3,909,747 |
Avis Budget Group, Inc. * | 53,407 | 9,796,980 |
C.H. Robinson Worldwide, Inc. | 75,054 | 7,256,221 |
CSX Corp. | 698,060 | 23,671,214 |
Delta Air Lines, Inc. * | 151,910 | 6,064,247 |
Expeditors International of Washington, Inc. | 53,634 | 5,543,610 |
FedEx Corp. | 106,032 | 23,567,733 |
GXO Logistics, Inc. * | 31,284 | 2,625,666 |
J.B. Hunt Transport Services, Inc. | 25,389 | 5,152,190 |
Kirby Corp. * | 31,385 | 2,044,733 |
Knight-Swift Transportation Holdings, Inc. | 48,978 | 2,668,321 |
Landstar System, Inc. | 14,720 | 2,272,915 |
Norfolk Southern Corp. | 72,448 | 18,584,361 |
Old Dominion Freight Line, Inc. | 12,474 | 3,917,210 |
Ryder System, Inc. | 62,594 | 4,934,911 |
Southwest Airlines Co. * | 100,681 | 4,409,828 |
Union Pacific Corp. | 205,687 | 50,588,718 |
United Airlines Holdings, Inc. * | 94,197 | 4,182,347 |
United Parcel Service, Inc., Class B | 130,940 | 27,552,395 |
XPO Logistics, Inc. * | 33,573 | 2,440,086 |
211,183,433 | ||
Utilities 3.7% | ||
Alliant Energy Corp. | 69,211 | 4,041,922 |
Ameren Corp. | 85,597 | 7,357,062 |
American Electric Power Co., Inc. | 195,887 | 17,757,157 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
American Water Works Co., Inc. | 28,967 | 4,376,624 |
Atmos Energy Corp. | 36,489 | 4,006,857 |
CenterPoint Energy, Inc. | 266,200 | 7,280,570 |
CMS Energy Corp. | 100,733 | 6,447,919 |
Consolidated Edison, Inc. | 177,052 | 15,185,750 |
Constellation Energy Corp. | 198,866 | 9,143,859 |
Dominion Energy, Inc. | 268,572 | 21,359,531 |
DTE Energy Co. | 70,023 | 8,514,097 |
Duke Energy Corp. | 317,448 | 31,874,954 |
Edison International | 166,681 | 10,570,909 |
Entergy Corp. | 81,395 | 8,563,568 |
Evergy, Inc. | 147,363 | 9,196,925 |
Eversource Energy | 104,755 | 8,568,959 |
Exelon Corp. | 597,492 | 25,429,259 |
FirstEnergy Corp. | 300,754 | 12,586,555 |
NextEra Energy, Inc. | 327,049 | 25,598,125 |
NiSource, Inc. | 166,697 | 4,822,544 |
NRG Energy, Inc. | 98,602 | 3,731,100 |
OGE Energy Corp. | 88,407 | 3,319,683 |
PG&E Corp. * | 258,484 | 2,938,963 |
Pinnacle West Capital Corp. | 58,459 | 4,140,651 |
Portland General Electric Co. | 45,582 | 2,314,198 |
PPL Corp. | 435,272 | 11,391,068 |
Public Service Enterprise Group, Inc. | 193,914 | 12,571,445 |
Sempra Energy | 90,719 | 13,083,494 |
Southwest Gas Holdings, Inc. | 30,512 | 2,164,521 |
The AES Corp. | 327,097 | 6,944,269 |
The Southern Co. | 404,972 | 26,230,036 |
UGI Corp. | 102,268 | 3,931,182 |
Vistra Corp. | 391,929 | 8,943,820 |
WEC Energy Group, Inc. | 91,035 | 8,273,261 |
Xcel Energy, Inc. | 174,508 | 11,749,624 |
364,410,461 | ||
Total Common Stocks (Cost $8,117,962,984) | 9,870,247,960 |
SHORT-TERM INVESTMENTS 0.1% OF NET ASSETS | ||
Money Market Funds 0.1% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (c) | 7,471,770 | 7,471,770 |
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (c)(d) | 3,896,800 | 3,896,800 |
11,368,570 | ||
Total Short-Term Investments (Cost $11,368,570) | 11,368,570 | |
Total Investments in Securities (Cost $8,129,331,554) | 9,881,616,530 |
NUMBER OF CONTRACTS | NOTIONAL AMOUNT ($) | CURRENT VALUE/ UNREALIZED DEPRECIATION ($) | |
FUTURES CONTRACTS | |||
Long | |||
S&P 500 Index, e-mini, expires 03/18/22 | 85 | 18,564,000 | (245,433) |
* | 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 $3,885,136. |
(c) | The rate shown is the 7-day yield. |
(d) | Security purchased with cash collateral received for securities on loan. |
REIT — | Real Estate Investment Trust |
VALUE AT 2/28/21 | PURCHASES | SALES | REALIZED GAINS (LOSSES) | NET CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) | VALUE AT 2/28/22 | BALANCE OF SHARES HELD AT 2/28/22 | DIVIDENDS RECEIVED | |
COMMON STOCKS 0.1% OF NET ASSETS | ||||||||
Diversified Financials 0.1% | ||||||||
The Charles Schwab Corp. | $8,403,178 | $4,411,830 | ($6,390,137) | $1,521,579 | $904,198 | $8,850,648 | 104,791 | $83,768 |
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 Stocks1 | $9,870,247,960 | $— | $— | $9,870,247,960 |
Short-Term Investments1 | 11,368,570 | — | — | 11,368,570 |
Liabilities | ||||
Futures Contracts2 | (245,433) | — | — | (245,433) |
Total | $9,881,371,097 | $— | $— | $9,881,371,097 |
1 | As categorized in the Portfolio Holdings. |
2 | Futures contracts are reported at cumulative unrealized appreciation or depreciation. |
Assets | ||
Investments in securities, at value - affiliated (cost $5,247,139) | $8,850,648 | |
Investments in securities, at value - unaffiliated (cost $8,124,084,415) including securities on loan of $3,885,136 | 9,872,765,882 | |
Deposit with broker for futures contracts | 1,414,499 | |
Receivables: | ||
Investments sold | 84,000,603 | |
Fund shares sold | 82,625,768 | |
Dividends | 21,131,309 | |
Income from securities on loan | + | 1,912 |
Total assets | 10,070,790,621 | |
Liabilities | ||
Collateral held for securities on loan | 3,896,800 | |
Payables: | ||
Investments bought | 89,646,374 | |
Fund shares redeemed | 85,844,226 | |
Management fees | 1,909,197 | |
Variation margin on futures contracts | + | 44,278 |
Total liabilities | 181,340,875 | |
Net assets | $9,889,449,746 | |
Net Assets by Source | ||
Capital received from investors | $8,456,981,798 | |
Total distributable earnings | + | 1,432,467,948 |
Net assets | $9,889,449,746 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$9,889,449,746 | 173,550,000 | $56.98 | ||
For the period March 1, 2021 through February 28, 2022 | ||
Investment Income | ||
Dividends received from securities - unaffiliated (net of foreign withholding tax of $18,965) | $160,141,226 | |
Dividends received from securities - affiliated | 83,768 | |
Securities on loan, net | + | 26,860 |
Total investment income | 160,251,854 | |
Expenses | ||
Management fees | 19,208,020 | |
Total expenses | – | 19,208,020 |
Net investment income | 141,043,834 | |
REALIZED AND UNREALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - affiliated | 310,676 | |
Net realized losses on sales of securities - unaffiliated | (104,766,775) | |
Net realized gains on sales of in-kind redemptions - affiliated | 1,210,903 | |
Net realized gains on sales of in-kind redemptions - unaffiliated | 496,763,671 | |
Net realized gains on futures contracts | + | 379,888 |
Net realized gains | 393,898,363 | |
Net change in unrealized appreciation (depreciation) on securities - affiliated | 904,198 | |
Net change in unrealized appreciation (depreciation) on securities - unaffiliated | 629,162,157 | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | 31,343 |
Net change in unrealized appreciation (depreciation) | + | 630,097,698 |
Net realized and unrealized gains | 1,023,996,061 | |
Increase in net assets resulting from operations | $1,165,039,895 |
OPERATIONS | |||
3/1/21-2/28/22 | 3/1/20-2/28/21 | ||
Net investment income | $141,043,834 | $126,653,300 | |
Net realized gains | 393,898,363 | 422,934,207 | |
Net change in unrealized appreciation (depreciation) | + | 630,097,698 | 883,468,597 |
Increase in net assets resulting from operations | $1,165,039,895 | $1,433,056,104 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Total distributions | ($130,197,615) | ($134,608,220) |
TRANSACTIONS IN FUND SHARES | |||||
3/1/21-2/28/22 | 3/1/20-2/28/21 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 71,200,000 | $4,014,710,303 | 30,500,000 | $1,133,770,691 | |
Shares redeemed | + | (18,550,000) | (1,022,625,679) | (57,150,000) | (2,127,678,557) |
Net transactions in fund shares | 52,650,000 | $2,992,084,624 | (26,650,000) | ($993,907,866) | |
SHARES OUTSTANDING AND NET ASSETS | |||||
3/1/21-2/28/22 | 3/1/20-2/28/21 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 120,900,000 | $5,862,522,842 | 147,550,000 | $5,557,982,824 | |
Total increase (decrease) | + | 52,650,000 | 4,026,926,904 | (26,650,000) | 304,540,018 |
End of period | 173,550,000 | $9,889,449,746 | 120,900,000 | $5,862,522,842 |
3/1/21– 2/28/22 | 3/1/20– 2/28/21 | 3/1/19– 2/29/20 | 3/1/18– 2/28/19 | 3/1/17– 2/28/18 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $48.75 | $34.73 | $38.08 | $36.90 | $34.89 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.65 | 0.49 | 0.55 | 0.59 | 0.52 | |
Net realized and unrealized gains (losses) | 4.26 | 14.09 | (3.34) | 1.14 | 1.98 | |
Total from investment operations | 4.91 | 14.58 | (2.79) | 1.73 | 2.50 | |
Less distributions: | ||||||
Distributions from net investment income | (0.64) | (0.56) | (0.56) | (0.55) | (0.49) | |
Net asset value at end of period | $53.02 | $48.75 | $34.73 | $38.08 | $36.90 | |
Total return | 10.06% | 42.73% | (7.46%) | 4.69% | 7.22% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | |
Net investment income (loss) | 1.21% | 1.40% | 1.43% | 1.53% | 1.45% | |
Portfolio turnover rate2 | 25% | 24% | 26% | 23% | 21% | |
Net assets, end of period (x 1,000) | $4,843,112 | $4,085,618 | $3,424,710 | $3,402,783 | $2,782,002 |
1 | Calculated based on the average shares outstanding during the period. |
2 | Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions. |
SECURITY | NUMBER OF SHARES | VALUE ($) |
COMMON STOCKS 99.9% OF NET ASSETS | ||
Automobiles & Components 1.4% | ||
American Axle & Manufacturing Holdings, Inc. * | 1,159,849 | 10,740,202 |
Cooper-Standard Holding, Inc. * | 331,099 | 4,211,579 |
Dorman Products, Inc. * | 47,283 | 4,417,178 |
Fox Factory Holding Corp. * | 16,493 | 1,946,504 |
Gentherm, Inc. * | 62,010 | 5,260,928 |
LCI Industries | 54,236 | 6,753,467 |
Modine Manufacturing Co. * | 290,026 | 2,929,263 |
Patrick Industries, Inc. | 50,635 | 3,612,301 |
Standard Motor Products, Inc. | 90,669 | 3,963,142 |
Stoneridge, Inc. * | 100,915 | 1,666,107 |
Tenneco, Inc., Class A * | 785,094 | 15,136,612 |
Veoneer, Inc. * | 91,925 | 3,258,741 |
Winnebago Industries, Inc. | 73,021 | 4,678,455 |
68,574,479 | ||
Banks 10.0% | ||
Ameris Bancorp | 44,492 | 2,202,354 |
Associated Banc-Corp. | 358,927 | 8,754,230 |
Atlantic Union Bankshares Corp. | 87,495 | 3,554,922 |
Axos Financial, Inc. * | 54,728 | 2,995,811 |
Bank of Hawaii Corp. | 75,430 | 6,500,557 |
Bank OZK | 174,839 | 8,220,930 |
BankUnited, Inc. | 208,940 | 9,235,148 |
Banner Corp. | 68,260 | 4,205,499 |
Berkshire Hills Bancorp, Inc. | 86,854 | 2,701,159 |
BOK Financial Corp. | 50,266 | 5,162,318 |
Brookline Bancorp, Inc. | 133,251 | 2,283,922 |
Cadence Bank | 286,922 | 9,072,474 |
Capitol Federal Financial, Inc. | 287,353 | 3,137,895 |
Cathay General Bancorp | 134,092 | 6,306,347 |
Central Pacific Financial Corp. | 86,245 | 2,517,492 |
City Holding Co. | 22,529 | 1,794,885 |
Columbia Banking System, Inc. | 119,343 | 4,371,534 |
Commerce Bancshares, Inc. | 113,000 | 8,111,140 |
Community Bank System, Inc. | 53,310 | 3,888,431 |
Cullen/Frost Bankers, Inc. | 74,565 | 10,493,532 |
CVB Financial Corp. | 166,995 | 3,937,742 |
Eagle Bancorp, Inc. | 40,989 | 2,456,061 |
Essent Group Ltd. | 118,244 | 5,224,020 |
F.N.B. Corp. | 710,249 | 9,538,644 |
Federal Agricultural Mortgage Corp., Class C | 25,496 | 3,153,855 |
First BanCorp | 280,948 | 3,966,986 |
First Busey Corp. | 81,278 | 2,231,081 |
First Citizens BancShares, Inc., Class A | 34,773 | 27,416,772 |
First Commonwealth Financial Corp. | 164,311 | 2,653,623 |
First Financial Bancorp | 151,796 | 3,731,146 |
First Financial Bankshares, Inc. | 60,643 | 2,906,013 |
First Hawaiian, Inc. | 279,954 | 8,138,263 |
First Horizon Corp. | 570,728 | 13,400,693 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
First Interstate BancSystem, Inc., Class A | 177,580 | 7,209,748 |
First Merchants Corp. | 62,733 | 2,743,941 |
Flagstar Bancorp, Inc. | 92,380 | 4,210,680 |
Fulton Financial Corp. | 368,549 | 6,641,253 |
Glacier Bancorp, Inc. | 85,215 | 4,720,911 |
Hancock Whitney Corp. | 149,569 | 8,328,002 |
Hanmi Financial Corp. | 85,937 | 2,244,674 |
Heartland Financial USA, Inc. | 43,533 | 2,160,107 |
Hilltop Holdings, Inc. | 109,562 | 3,387,657 |
Home BancShares, Inc. | 233,882 | 5,475,178 |
Hope Bancorp, Inc. | 297,660 | 5,048,314 |
Independent Bank Corp. | 34,919 | 3,003,383 |
Independent Bank Group, Inc. | 28,059 | 2,164,752 |
International Bancshares Corp. | 94,500 | 4,064,445 |
Investors Bancorp, Inc. | 624,048 | 10,446,564 |
MGIC Investment Corp. | 786,415 | 11,937,780 |
National Bank Holdings Corp., Class A | 45,980 | 2,040,592 |
NBT Bancorp, Inc. | 78,697 | 3,019,604 |
Northwest Bancshares, Inc. | 211,636 | 2,979,835 |
OFG Bancorp | 110,032 | 3,100,702 |
Old National Bancorp | 525,674 | 9,609,323 |
Pacific Premier Bancorp, Inc. | 48,735 | 1,886,532 |
Park National Corp. | 21,990 | 2,947,979 |
PennyMac Financial Services, Inc. | 42,053 | 2,428,561 |
Pinnacle Financial Partners, Inc. | 54,414 | 5,500,167 |
Prosperity Bancshares, Inc. | 105,185 | 7,832,075 |
Provident Financial Services, Inc. | 126,847 | 3,010,079 |
Radian Group, Inc. | 486,677 | 11,631,580 |
Renasant Corp. | 74,565 | 2,722,368 |
S&T Bancorp, Inc. | 75,372 | 2,343,316 |
Sandy Spring Bancorp, Inc. | 52,513 | 2,472,837 |
ServisFirst Bancshares, Inc. | 31,031 | 2,711,489 |
Signature Bank | 39,014 | 13,455,539 |
Simmons First National Corp., Class A | 144,604 | 4,124,106 |
Southside Bancshares, Inc. | 44,178 | 1,841,781 |
SouthState Corp. | 57,662 | 5,189,580 |
Synovus Financial Corp. | 246,251 | 12,965,115 |
Texas Capital Bancshares, Inc. * | 74,944 | 4,991,270 |
The Bank of NT Butterfield & Son Ltd. | 89,026 | 3,418,598 |
Tompkins Financial Corp. | 23,036 | 1,822,148 |
Towne Bank | 87,786 | 2,737,168 |
Trustmark Corp. | 138,007 | 4,345,840 |
UMB Financial Corp. | 49,164 | 5,007,845 |
Umpqua Holdings Corp. | 529,637 | 11,307,750 |
United Bankshares, Inc. | 162,814 | 5,962,249 |
United Community Banks, Inc. | 92,946 | 3,593,292 |
Valley National Bancorp | 506,238 | 7,072,145 |
Walker & Dunlop, Inc. | 46,644 | 6,453,197 |
Washington Federal, Inc. | 213,516 | 7,596,899 |
Webster Financial Corp. | 256,203 | 15,425,983 |
WesBanco, Inc. | 92,945 | 3,396,210 |
Westamerica BanCorp | 33,076 | 1,962,068 |
Western Alliance Bancorp | 56,774 | 5,321,995 |
Wintrust Financial Corp. | 86,059 | 8,550,822 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
WSFS Financial Corp. | 46,150 | 2,345,805 |
483,177,312 | ||
Capital Goods 11.7% | ||
AAON, Inc. | 33,871 | 1,983,486 |
AAR Corp. * | 146,839 | 6,598,945 |
Advanced Drainage Systems, Inc. | 21,044 | 2,456,256 |
Aerojet Rocketdyne Holdings, Inc. | 90,897 | 3,522,259 |
Air Lease Corp. | 243,432 | 10,165,720 |
Alamo Group, Inc. | 19,932 | 2,772,740 |
Albany International Corp., Class A | 49,313 | 4,330,668 |
Altra Industrial Motion Corp. | 73,271 | 3,111,819 |
American Woodmark Corp. * | 56,653 | 3,035,468 |
API Group Corp. * | 196,189 | 4,231,797 |
Apogee Enterprises, Inc. | 120,983 | 5,452,704 |
Applied Industrial Technologies, Inc. | 94,807 | 9,584,988 |
Arcosa, Inc. | 147,390 | 7,763,031 |
Argan, Inc. | 56,300 | 2,189,507 |
Armstrong World Industries, Inc. | 67,891 | 6,001,564 |
Astec Industries, Inc. | 67,860 | 3,379,428 |
Astronics Corp. * | 148,335 | 2,182,008 |
Atkore, Inc. * | 39,824 | 4,050,499 |
AZZ, Inc. | 79,196 | 3,898,819 |
Barnes Group, Inc. | 147,629 | 6,857,367 |
Beacon Roofing Supply, Inc. * | 152,171 | 9,083,087 |
Boise Cascade Co. | 179,864 | 14,378,328 |
Builders FirstSource, Inc. * | 213,997 | 15,925,657 |
BWX Technologies, Inc. | 147,268 | 7,867,057 |
Chart Industries, Inc. * | 18,536 | 2,676,598 |
CIRCOR International, Inc. * | 59,448 | 1,601,529 |
Colfax Corp. * | 194,158 | 7,807,093 |
Columbus McKinnon Corp. | 49,476 | 2,258,085 |
Comfort Systems USA, Inc. | 75,085 | 6,455,808 |
Crane Co. | 98,848 | 9,991,556 |
CSW Industrials, Inc. | 14,399 | 1,732,632 |
Douglas Dynamics, Inc. | 55,487 | 2,038,592 |
Dycom Industries, Inc. * | 119,201 | 10,377,639 |
Encore Wire Corp. | 61,768 | 7,191,031 |
Enerpac Tool Group Corp. | 103,219 | 1,780,528 |
EnerSys | 107,209 | 7,797,311 |
EnPro Industries, Inc. | 47,089 | 5,200,509 |
ESCO Technologies, Inc. | 33,548 | 2,333,934 |
Evoqua Water Technologies Corp. * | 60,645 | 2,587,116 |
Federal Signal Corp. | 103,003 | 3,719,438 |
Franklin Electric Co., Inc. | 67,648 | 5,720,315 |
Generac Holdings, Inc. * | 19,903 | 6,278,799 |
Gibraltar Industries, Inc. * | 50,023 | 2,417,111 |
GMS, Inc. * | 118,241 | 6,414,574 |
GrafTech International Ltd. | 145,961 | 1,471,287 |
Granite Construction, Inc. | 226,574 | 6,858,395 |
Great Lakes Dredge & Dock Corp. * | 126,751 | 1,788,457 |
Griffon Corp. | 149,996 | 3,457,408 |
H&E Equipment Services, Inc. | 142,712 | 5,959,653 |
HEICO Corp. | 23,182 | 3,419,577 |
HEICO Corp., Class A | 39,541 | 4,860,380 |
Helios Technologies, Inc. | 25,512 | 2,000,396 |
Herc Holdings, Inc. | 51,843 | 8,249,258 |
Hillenbrand, Inc. | 143,780 | 6,859,744 |
Hyster-Yale Materials Handling, Inc. | 51,081 | 1,955,381 |
Ingersoll Rand, Inc. | 126,124 | 6,371,784 |
JELD-WEN Holding, Inc. * | 208,597 | 4,814,419 |
John Bean Technologies Corp. | 30,626 | 3,472,070 |
Kadant, Inc. | 12,138 | 2,395,434 |
Kaman Corp. | 107,569 | 4,669,570 |
Kennametal, Inc. | 203,637 | 6,457,329 |
Kratos Defense & Security Solutions, Inc. * | 73,112 | 1,529,503 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Lindsay Corp. | 16,198 | 2,125,340 |
Masonite International Corp. * | 62,953 | 5,938,356 |
Matrix Service Co. * | 321,874 | 2,233,806 |
Maxar Technologies, Inc. | 129,652 | 4,205,911 |
McGrath RentCorp | 49,875 | 4,053,840 |
Mercury Systems, Inc. * | 39,931 | 2,404,645 |
Meritor, Inc. * | 246,384 | 8,773,734 |
Moog, Inc., Class A | 120,062 | 9,978,353 |
MRC Global, Inc. * | 582,393 | 5,882,169 |
Mueller Industries, Inc. | 191,445 | 10,921,937 |
Mueller Water Products, Inc., Class A | 303,846 | 3,855,806 |
MYR Group, Inc. * | 45,181 | 4,054,995 |
National Presto Industries, Inc. | 21,693 | 1,724,593 |
NOW, Inc. * | 924,952 | 8,639,052 |
Parsons Corp. * | 51,262 | 1,776,741 |
PGT Innovations, Inc. * | 92,966 | 1,999,699 |
Primoris Services Corp. | 226,915 | 5,983,749 |
Proto Labs, Inc. * | 31,882 | 1,792,725 |
Quanex Building Products Corp. | 126,575 | 2,893,504 |
RBC Bearings, Inc. * | 20,595 | 3,992,341 |
Resideo Technologies, Inc. * | 336,566 | 8,663,209 |
Rush Enterprises, Inc., Class A | 222,831 | 11,573,842 |
Simpson Manufacturing Co., Inc. | 61,011 | 7,230,414 |
SiteOne Landscape Supply, Inc. * | 20,050 | 3,457,221 |
SPX Corp. * | 38,485 | 1,951,189 |
SPX FLOW, Inc. | 55,893 | 4,800,650 |
Standex International Corp. | 29,979 | 3,175,675 |
Tennant Co. | 36,680 | 2,889,650 |
Terex Corp. | 193,969 | 8,007,040 |
Textainer Group Holdings Ltd. | 67,277 | 2,389,006 |
The Greenbrier Cos., Inc. | 230,026 | 10,220,055 |
The Manitowoc Co., Inc. * | 134,355 | 2,220,888 |
The Middleby Corp. * | 65,397 | 11,615,815 |
The Timken Co. | 148,512 | 9,736,447 |
Trex Co., Inc. * | 40,296 | 3,700,785 |
Trinity Industries, Inc. | 319,934 | 9,233,295 |
Triton International Ltd. | 153,759 | 10,098,891 |
Tutor Perini Corp. * | 476,719 | 4,671,846 |
Valmont Industries, Inc. | 42,091 | 9,110,597 |
Vectrus, Inc. * | 52,733 | 2,417,281 |
Wabash National Corp. | 421,283 | 7,178,662 |
Watts Water Technologies, Inc., Class A | 36,344 | 5,231,719 |
Welbilt, Inc. * | 162,548 | 3,842,635 |
Woodward, Inc. | 78,294 | 9,757,781 |
Zurn Water Solutions Corp. | 149,195 | 4,851,821 |
565,051,155 | ||
Commercial & Professional Services 4.9% | ||
ACCO Brands Corp. | 567,347 | 4,879,184 |
ADT, Inc. | 590,953 | 4,319,866 |
ASGN, Inc. * | 85,962 | 9,523,730 |
Brady Corp., Class A | 110,016 | 5,069,537 |
BrightView Holdings, Inc. * | 173,916 | 2,349,605 |
CBIZ, Inc. * | 88,387 | 3,439,138 |
Cimpress plc * | 34,087 | 2,147,140 |
Clean Harbors, Inc. * | 99,664 | 9,510,936 |
CoStar Group, Inc. * | 84,246 | 5,139,849 |
Deluxe Corp. | 246,528 | 7,669,486 |
Exponent, Inc. | 26,371 | 2,498,916 |
FTI Consulting, Inc. * | 65,146 | 9,511,316 |
Harsco Corp. * | 269,360 | 3,208,078 |
Healthcare Services Group, Inc. | 292,590 | 4,628,774 |
Heidrick & Struggles International, Inc. | 44,208 | 1,889,892 |
HNI Corp. | 196,547 | 7,997,497 |
Huron Consulting Group, Inc. * | 51,164 | 2,523,920 |
IAA, Inc. * | 85,033 | 3,124,112 |
ICF International, Inc. | 45,308 | 4,015,195 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Insperity, Inc. | 44,181 | 3,974,081 |
Interface, Inc. | 273,187 | 3,565,090 |
KAR Auction Services, Inc. * | 510,821 | 9,429,756 |
Kforce, Inc. | 71,542 | 5,378,528 |
Korn Ferry | 103,048 | 6,827,961 |
ManTech International Corp., Class A | 70,148 | 5,848,239 |
Matthews International Corp., Class A | 136,185 | 4,518,618 |
MillerKnoll, Inc. | 260,689 | 10,135,588 |
MSA Safety, Inc. | 31,195 | 4,339,225 |
Pitney Bowes, Inc. | 1,307,367 | 6,510,688 |
Resources Connection, Inc. | 196,215 | 3,257,169 |
Rollins, Inc. | 137,030 | 4,471,289 |
SP Plus Corp. * | 106,469 | 3,178,100 |
Steelcase, Inc., Class A | 571,049 | 6,949,666 |
Stericycle, Inc. * | 142,281 | 8,303,519 |
Tetra Tech, Inc. | 60,594 | 9,620,509 |
The Brink's Co. | 71,715 | 5,024,353 |
The GEO Group, Inc. * | 1,482,789 | 8,837,422 |
TransUnion | 105,183 | 9,546,409 |
TriNet Group, Inc. * | 43,378 | 3,787,333 |
TrueBlue, Inc. * | 310,338 | 8,441,194 |
UniFirst Corp. | 35,003 | 6,344,294 |
US Ecology, Inc. * | 70,345 | 3,337,167 |
Viad Corp. * | 84,161 | 2,940,585 |
238,012,954 | ||
Consumer Durables & Apparel 3.4% | ||
Acushnet Holdings Corp. | 59,387 | 2,601,151 |
Beazer Homes USA, Inc. * | 144,874 | 2,371,587 |
Callaway Golf Co. * | 128,355 | 3,175,503 |
Cavco Industries, Inc. * | 15,677 | 4,274,020 |
Century Communities, Inc. | 51,564 | 3,285,658 |
Columbia Sportswear Co. | 61,189 | 5,673,444 |
Crocs, Inc. * | 28,419 | 2,379,523 |
Deckers Outdoor Corp. * | 30,268 | 8,736,555 |
Ethan Allen Interiors, Inc. | 151,901 | 3,958,540 |
Fossil Group, Inc. * | 412,111 | 5,571,741 |
G-III Apparel Group Ltd. * | 260,650 | 7,230,431 |
Helen of Troy Ltd. * | 34,915 | 7,180,968 |
Installed Building Products, Inc. | 17,977 | 1,738,376 |
iRobot Corp. * | 47,932 | 2,979,453 |
KB Home | 243,860 | 9,415,435 |
Kontoor Brands, Inc. | 151,442 | 7,502,437 |
La-Z-Boy, Inc. | 176,442 | 5,148,578 |
LGI Homes, Inc. * | 27,601 | 3,481,314 |
M.D.C Holdings, Inc. | 148,395 | 6,579,834 |
M/I Homes, Inc. * | 92,131 | 4,541,137 |
Meritage Homes Corp. * | 109,788 | 10,822,901 |
Movado Group, Inc. | 70,720 | 2,787,782 |
Oxford Industries, Inc. | 49,472 | 4,372,830 |
Skyline Champion Corp. * | 34,767 | 2,337,733 |
Smith & Wesson Brands, Inc. | 118,841 | 2,095,167 |
Steven Madden Ltd. | 218,092 | 9,303,805 |
Sturm Ruger & Co., Inc. | 50,888 | 3,684,800 |
Tempur Sealy International, Inc. | 196,824 | 6,497,160 |
TopBuild Corp. * | 34,003 | 7,299,764 |
Tupperware Brands Corp. *(a) | 266,560 | 4,859,389 |
Universal Electronics, Inc. * | 50,176 | 1,667,348 |
Vista Outdoor, Inc. * | 120,666 | 4,398,276 |
Wolverine World Wide, Inc. | 261,039 | 6,011,728 |
163,964,368 | ||
Consumer Services 4.9% | ||
Adtalem Global Education, Inc. * | 230,516 | 4,790,122 |
American Public Education, Inc. * | 76,241 | 1,521,770 |
Arcos Dorados Holdings, Inc., Class A * | 653,684 | 5,052,977 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Bally's Corp. * | 38,596 | 1,390,228 |
BJ's Restaurants, Inc. * | 98,292 | 3,152,224 |
Bloomin' Brands, Inc. * | 378,770 | 9,321,530 |
Boyd Gaming Corp. * | 115,888 | 8,221,095 |
Bright Horizons Family Solutions, Inc. * | 54,262 | 7,088,788 |
Brinker International, Inc. * | 190,975 | 8,124,077 |
Caesars Entertainment, Inc. * | 45,451 | 3,826,520 |
Choice Hotels International, Inc. | 27,357 | 3,948,983 |
Churchill Downs, Inc. | 39,567 | 9,530,503 |
Dave & Buster's Entertainment, Inc. * | 150,021 | 6,501,910 |
Denny's Corp. * | 165,866 | 2,624,000 |
Dine Brands Global, Inc. | 41,414 | 3,472,150 |
Everi Holdings, Inc. * | 88,748 | 2,076,703 |
Frontdoor, Inc. * | 56,586 | 1,700,409 |
Graham Holdings Co., Class B | 15,388 | 9,250,188 |
Grand Canyon Education, Inc. * | 77,396 | 6,720,295 |
Hilton Grand Vacations, Inc. * | 178,567 | 9,260,485 |
Houghton Mifflin Harcourt Co. * | 397,273 | 8,322,869 |
Hyatt Hotels Corp., Class A * | 133,096 | 12,924,953 |
International Game Technology plc | 452,543 | 13,856,867 |
Jack in the Box, Inc. | 94,692 | 8,169,079 |
Laureate Education, Inc. | 477,713 | 5,178,409 |
Papa John's International, Inc. | 31,627 | 3,378,396 |
Penn National Gaming, Inc. * | 150,185 | 7,712,000 |
Perdoceo Education Corp. * | 214,792 | 2,248,872 |
Planet Fitness, Inc., Class A * | 56,055 | 4,743,935 |
Red Robin Gourmet Burgers, Inc. * | 143,666 | 2,521,338 |
Red Rock Resorts, Inc., Class A | 95,950 | 4,824,366 |
Regis Corp. *(a) | 632,151 | 1,144,193 |
Ruth's Hospitality Group, Inc. | 88,631 | 2,198,935 |
Scientific Games Corp., Class A * | 88,014 | 5,537,841 |
SeaWorld Entertainment, Inc. * | 67,227 | 4,664,882 |
Strategic Education, Inc. | 48,051 | 2,835,970 |
Stride, Inc. * | 146,382 | 4,915,508 |
Terminix Global Holdings, Inc. * | 153,190 | 6,519,766 |
Texas Roadhouse, Inc. | 105,914 | 10,052,298 |
The Cheesecake Factory, Inc. * | 161,130 | 6,894,753 |
WW International, Inc. * | 100,113 | 1,020,151 |
Wyndham Hotels & Resorts, Inc. | 111,857 | 9,665,563 |
236,905,901 | ||
Diversified Financials 4.6% | ||
Apollo Commercial Real Estate Finance, Inc. | 300,193 | 3,917,519 |
Apollo Global Management, Inc. | 346,841 | 22,634,844 |
Arbor Realty Trust, Inc. | 124,428 | 2,239,704 |
Ares Management Corp., Class A | 30,917 | 2,507,060 |
Artisan Partners Asset Management, Inc., Class A | 94,591 | 3,604,863 |
BGC Partners, Inc., Class A | 858,514 | 3,931,994 |
Blackstone Mortgage Trust, Inc., Class A | 217,201 | 6,902,648 |
Blucora, Inc. * | 119,402 | 2,376,100 |
Brightsphere Investment Group, Inc. | 156,188 | 3,728,208 |
BrightSpire Capital, Inc. | 195,419 | 1,731,412 |
Cannae Holdings, Inc. * | 159,553 | 4,283,998 |
Chimera Investment Corp. | 699,151 | 8,508,668 |
Cohen & Steers, Inc. | 31,882 | 2,590,731 |
Compass Diversified Holdings | 182,633 | 4,339,360 |
Credit Acceptance Corp. * | 12,880 | 7,085,546 |
Donnelley Financial Solutions, Inc. * | 88,011 | 2,825,153 |
Encore Capital Group, Inc. * | 69,445 | 4,582,676 |
Enova International, Inc. * | 90,974 | 3,709,010 |
FactSet Research Systems, Inc. | 23,916 | 9,712,048 |
Federated Hermes, Inc. | 291,684 | 9,529,316 |
FirstCash Holdings, Inc. | 103,212 | 7,435,392 |
Green Dot Corp., Class A * | 89,331 | 2,559,333 |
Houlihan Lokey, Inc. | 53,125 | 5,464,437 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Interactive Brokers Group, Inc., Class A | 28,496 | 1,885,865 |
Invesco Mortgage Capital, Inc. | 1,746,552 | 3,807,483 |
Ladder Capital Corp. | 395,413 | 4,531,433 |
MarketAxess Holdings, Inc. | 11,042 | 4,211,750 |
MFA Financial, Inc. | 1,409,788 | 5,723,739 |
Moelis & Co., Class A | 73,660 | 3,551,149 |
Morningstar, Inc. | 13,737 | 3,855,289 |
Nelnet, Inc., Class A | 44,712 | 3,601,552 |
New York Mortgage Trust, Inc. | 927,925 | 3,257,017 |
PennyMac Mortgage Investment Trust | 250,544 | 3,908,486 |
Piper Sandler Cos. | 24,048 | 3,559,344 |
PRA Group, Inc. * | 102,437 | 4,571,763 |
Redwood Trust, Inc. | 332,449 | 3,454,145 |
SLM Corp. | 589,878 | 11,620,597 |
Stifel Financial Corp. | 107,028 | 7,866,558 |
The Carlyle Group, Inc. | 90,864 | 4,258,796 |
TPG RE Finance Trust, Inc. | 167,724 | 1,985,852 |
Tradeweb Markets, Inc., Class A | 28,296 | 2,390,446 |
Two Harbors Investment Corp. | 1,216,767 | 6,156,841 |
Virtu Financial, Inc., Class A | 62,327 | 2,186,431 |
Virtus Investment Partners, Inc. | 8,263 | 1,988,243 |
WisdomTree Investments, Inc. | 347,936 | 1,958,880 |
World Acceptance Corp. * | 19,140 | 3,760,436 |
220,292,115 | ||
Energy 5.1% | ||
Alto Ingredients, Inc. * | 425,861 | 2,482,770 |
Arch Resources, Inc. (a) | 153,013 | 18,265,162 |
Archrock, Inc. | 526,269 | 4,394,346 |
Callon Petroleum Co. * | 90,730 | 5,113,543 |
Centennial Resource Development, Inc., Class A * | 786,579 | 6,906,164 |
ChampionX Corp. * | 198,845 | 4,257,271 |
CNX Resources Corp. * | 743,073 | 12,141,813 |
CONSOL Energy, Inc. * | 316,865 | 9,740,430 |
Continental Resources, Inc. | 169,568 | 9,399,154 |
Core Laboratories N.V. | 140,905 | 3,883,342 |
CVR Energy, Inc. | 322,986 | 5,616,726 |
DHT Holdings, Inc. | 422,538 | 2,657,764 |
Dril-Quip, Inc. * | 144,129 | 4,156,680 |
EQT Corp. | 455,111 | 10,531,268 |
Equitrans Midstream Corp. | 1,161,119 | 7,442,773 |
Golar LNG Ltd. * | 155,804 | 2,710,990 |
Green Plains, Inc. * | 228,107 | 7,468,223 |
Helix Energy Solutions Group, Inc. * | 603,391 | 2,443,733 |
International Seaways, Inc. | 245,841 | 4,496,432 |
Kosmos Energy Ltd. * | 1,674,293 | 8,137,064 |
Liberty Oilfield Services, Inc., Class A * | 176,629 | 2,204,330 |
Magnolia Oil & Gas Corp., Class A | 218,246 | 4,877,798 |
Matador Resources Co. | 115,258 | 5,716,797 |
NexTier Oilfield Solutions, Inc. * | 879,681 | 7,002,261 |
Nordic American Tankers Ltd. | 1,065,335 | 2,578,111 |
Oceaneering International, Inc. * | 709,629 | 10,388,969 |
Oil States International, Inc. * | 685,804 | 3,586,755 |
Par Pacific Holdings, Inc. * | 257,227 | 3,498,287 |
PDC Energy, Inc. | 169,441 | 10,932,333 |
ProPetro Holding Corp. * | 461,687 | 5,895,743 |
Range Resources Corp. * | 305,008 | 6,999,934 |
Renewable Energy Group, Inc. * | 133,877 | 8,233,435 |
Scorpio Tankers, Inc. | 242,964 | 4,225,144 |
SFL Corp., Ltd. | 514,907 | 5,123,325 |
SM Energy Co. | 512,908 | 18,213,363 |
Southwestern Energy Co. * | 1,329,936 | 6,636,381 |
Teekay Tankers Ltd., Class A * | 207,127 | 2,959,845 |
US Silica Holdings, Inc. * | 235,792 | 3,409,552 |
244,728,011 | ||
SECURITY | NUMBER OF SHARES | VALUE ($) |
Food & Staples Retailing 0.8% | ||
BJ's Wholesale Club Holdings, Inc. * | 92,615 | 5,822,705 |
Grocery Outlet Holding Corp. * | 103,432 | 2,876,444 |
Ingles Markets, Inc., Class A | 99,706 | 8,197,827 |
PriceSmart, Inc. | 91,733 | 6,670,824 |
The Andersons, Inc. | 222,080 | 10,126,848 |
The Chefs' Warehouse, Inc. * | 74,593 | 2,450,380 |
Weis Markets, Inc. | 76,926 | 4,744,026 |
40,889,054 | ||
Food, Beverage & Tobacco 2.3% | ||
B&G Foods, Inc. (a) | 243,057 | 7,194,487 |
Brown-Forman Corp., Class B | 139,951 | 9,129,004 |
Calavo Growers, Inc. | 73,101 | 3,120,682 |
Cal-Maine Foods, Inc. | 155,412 | 6,880,089 |
Coca-Cola Consolidated, Inc. | 6,869 | 3,413,412 |
Fresh Del Monte Produce, Inc. | 308,891 | 7,994,099 |
Hostess Brands, Inc. * | 180,865 | 3,895,832 |
J&J Snack Foods Corp. | 31,261 | 5,118,051 |
John B Sanfilippo & Son, Inc. | 33,020 | 2,625,750 |
Lamb Weston Holdings, Inc. | 145,031 | 9,634,409 |
Lancaster Colony Corp. | 32,666 | 5,494,748 |
Nomad Foods Ltd. * | 176,627 | 4,447,468 |
Pilgrim's Pride Corp. * | 265,180 | 6,252,944 |
The Boston Beer Co., Inc., Class A * | 7,085 | 2,716,814 |
The Hain Celestial Group, Inc. * | 165,528 | 6,018,598 |
TreeHouse Foods, Inc. * | 247,383 | 9,709,783 |
Universal Corp. | 191,122 | 10,341,612 |
Vector Group Ltd. | 424,460 | 4,758,197 |
108,745,979 | ||
Health Care Equipment & Services 3.8% | ||
ABIOMED, Inc. * | 13,221 | 4,108,293 |
Acadia Healthcare Co., Inc. * | 146,685 | 8,318,506 |
Addus HomeCare Corp. * | 17,940 | 1,525,618 |
Allscripts Healthcare Solutions, Inc. * | 305,785 | 5,950,576 |
Amedisys, Inc. * | 24,212 | 3,879,731 |
AMN Healthcare Services, Inc. * | 66,451 | 7,053,109 |
Avanos Medical, Inc. * | 68,313 | 2,417,597 |
Brookdale Senior Living, Inc. * | 998,344 | 6,868,607 |
Change Healthcare, Inc. * | 291,673 | 6,247,636 |
Chemed Corp. | 18,939 | 9,058,334 |
Community Health Systems, Inc. * | 478,203 | 5,025,913 |
CONMED Corp. | 23,941 | 3,499,216 |
Covetrus, Inc. * | 311,309 | 5,516,395 |
Globus Medical, Inc., Class A * | 54,582 | 3,838,206 |
Haemonetics Corp. * | 76,425 | 4,410,487 |
ICU Medical, Inc. * | 19,768 | 4,679,679 |
IDEXX Laboratories, Inc. * | 10,300 | 5,483,205 |
Integer Holdings Corp. * | 50,223 | 4,212,203 |
Integra LifeSciences Holdings Corp. * | 52,811 | 3,541,506 |
LHC Group, Inc. * | 29,276 | 3,986,513 |
LivaNova plc * | 32,152 | 2,534,221 |
Masimo Corp. * | 21,830 | 3,437,133 |
MEDNAX, Inc. * | 384,907 | 9,033,767 |
Merit Medical Systems, Inc. * | 44,459 | 2,891,169 |
ModivCare, Inc. * | 24,165 | 2,851,470 |
National HealthCare Corp. | 50,480 | 3,282,210 |
Natus Medical, Inc. * | 67,084 | 1,866,277 |
Neogen Corp. * | 55,986 | 1,998,700 |
NextGen Healthcare, Inc. * | 113,111 | 2,209,058 |
NuVasive, Inc. * | 79,177 | 4,285,059 |
Omnicell, Inc. * | 20,624 | 2,666,271 |
Orthofix Medical, Inc. * | 45,182 | 1,535,284 |
Owens & Minor, Inc. | 248,825 | 10,985,624 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Premier, Inc., Class A | 245,619 | 8,827,547 |
Select Medical Holdings Corp. | 219,919 | 5,091,125 |
Teleflex, Inc. | 30,610 | 10,294,449 |
The Ensign Group, Inc. | 46,715 | 3,925,928 |
US Physical Therapy, Inc. | 15,373 | 1,413,855 |
Varex Imaging Corp. * | 94,940 | 2,244,382 |
Veeva Systems, Inc., Class A * | 13,874 | 3,177,840 |
184,172,699 | ||
Household & Personal Products 1.0% | ||
Central Garden & Pet Co., Class A * | 82,099 | 3,615,640 |
Coty, Inc., Class A * | 971,993 | 8,913,176 |
Edgewell Personal Care Co. | 208,765 | 7,448,735 |
Energizer Holdings, Inc. | 104,561 | 3,491,292 |
Herbalife Nutrition Ltd. * | 135,980 | 4,838,168 |
Inter Parfums, Inc. | 22,113 | 2,053,856 |
Medifast, Inc. | 9,049 | 1,683,114 |
Spectrum Brands Holdings, Inc. | 119,600 | 11,096,488 |
USANA Health Sciences, Inc. * | 37,999 | 3,344,292 |
WD-40 Co. | 11,453 | 2,426,776 |
48,911,537 | ||
Insurance 2.4% | ||
Ambac Financial Group, Inc. * | 222,427 | 2,853,738 |
American Equity Investment Life Holding Co. | 326,905 | 12,321,049 |
American National Group, Inc. | 17,357 | 3,280,994 |
AMERISAFE, Inc. | 54,433 | 2,563,794 |
Argo Group International Holdings Ltd. | 75,633 | 3,189,444 |
Brighthouse Financial, Inc. * | 44,981 | 2,350,707 |
CNA Financial Corp. | 93,827 | 4,287,894 |
Employers Holdings, Inc. | 89,311 | 3,470,625 |
Enstar Group Ltd. * | 12,405 | 3,535,797 |
Horace Mann Educators Corp. | 83,610 | 3,477,340 |
James River Group Holdings Ltd. | 101,970 | 2,712,402 |
Kemper Corp. | 134,814 | 7,204,460 |
MBIA, Inc. * | 390,837 | 5,960,264 |
Mercury General Corp. | 81,505 | 4,482,775 |
ProAssurance Corp. | 329,163 | 7,932,828 |
RenaissanceRe Holdings Ltd. | 65,750 | 9,913,785 |
RLI Corp. | 38,931 | 3,951,497 |
Safety Insurance Group, Inc. | 40,268 | 3,359,962 |
Selective Insurance Group, Inc. | 92,341 | 7,681,848 |
SiriusPoint Ltd. * | 205,894 | 1,521,557 |
Stewart Information Services Corp. | 93,520 | 6,348,138 |
United Fire Group, Inc. | 92,001 | 2,540,148 |
Universal Insurance Holdings, Inc. | 223,645 | 2,585,336 |
White Mountains Insurance Group Ltd. | 7,629 | 8,011,976 |
115,538,358 | ||
Materials 6.5% | ||
AdvanSix, Inc. | 106,028 | 4,247,482 |
Allegheny Technologies, Inc. * | 411,991 | 10,604,648 |
Avient Corp. | 197,968 | 10,371,544 |
Balchem Corp. | 26,640 | 3,685,378 |
Cabot Corp. | 164,597 | 12,041,917 |
Carpenter Technology Corp. | 240,942 | 9,249,763 |
Century Aluminum Co. * | 173,488 | 4,097,787 |
Clearwater Paper Corp. * | 116,620 | 3,362,155 |
Cleveland-Cliffs, Inc. * | 251,475 | 5,622,981 |
Compass Minerals International, Inc. | 103,337 | 6,057,615 |
Constellium SE * | 232,949 | 4,526,199 |
Eagle Materials, Inc. | 62,697 | 8,578,831 |
Element Solutions, Inc. | 270,566 | 6,650,512 |
Ferro Corp. * | 148,990 | 3,237,553 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
GCP Applied Technologies, Inc. * | 104,005 | 3,284,478 |
Glatfelter Corp. | 205,015 | 2,816,906 |
Greif, Inc., Class A | 98,853 | 5,683,059 |
H.B. Fuller Co. | 109,462 | 7,483,917 |
Hawkins, Inc. | 54,349 | 2,459,836 |
Hecla Mining Co. | 506,195 | 2,915,683 |
Ingevity Corp. * | 54,136 | 3,693,699 |
Innospec, Inc. | 60,277 | 5,756,453 |
Kaiser Aluminum Corp. | 51,565 | 4,976,023 |
Koppers Holdings, Inc. * | 63,295 | 1,812,136 |
Kraton Corp. * | 123,471 | 5,698,187 |
Livent Corp. * | 103,196 | 2,430,266 |
Louisiana-Pacific Corp. | 191,185 | 13,755,761 |
Materion Corp. | 60,908 | 5,088,863 |
Minerals Technologies, Inc. | 96,161 | 6,730,308 |
Myers Industries, Inc. | 96,372 | 1,601,703 |
Neenah, Inc. | 77,479 | 3,017,807 |
NewMarket Corp. | 20,048 | 6,370,452 |
Orion Engineered Carbons S.A. | 249,150 | 3,871,791 |
Quaker Chemical Corp. | 9,681 | 1,796,890 |
Royal Gold, Inc. | 44,047 | 5,341,139 |
Schnitzer Steel Industries, Inc., Class A | 128,480 | 6,250,552 |
Schweitzer-Mauduit International, Inc. | 117,784 | 3,677,216 |
Sensient Technologies Corp. | 74,351 | 6,106,448 |
Silgan Holdings, Inc. | 214,806 | 8,996,075 |
Southern Copper Corp. | 100,725 | 6,989,308 |
Stepan Co. | 57,953 | 6,005,090 |
Summit Materials, Inc., Class A * | 217,172 | 6,780,110 |
SunCoke Energy, Inc. | 590,984 | 4,686,503 |
The Scotts Miracle-Gro Co. | 45,226 | 6,334,354 |
Tredegar Corp. | 184,781 | 2,126,829 |
TriMas Corp. | 91,253 | 2,966,635 |
Trinseo plc | 179,140 | 9,308,114 |
Tronox Holdings plc, Class A | 184,338 | 3,742,061 |
Valvoline, Inc. | 186,086 | 6,016,160 |
Verso Corp., Class A | 445,180 | 11,801,722 |
Warrior Met Coal, Inc. | 552,614 | 17,407,341 |
Westlake Corp. | 97,936 | 10,803,320 |
Worthington Industries, Inc. | 115,362 | 6,577,941 |
315,495,501 | ||
Media & Entertainment 3.8% | ||
AMC Entertainment Holdings, Inc., Class A *(a) | 152,678 | 2,879,507 |
AMC Networks, Inc., Class A * | 197,653 | 8,192,717 |
Cable One, Inc. | 3,287 | 4,709,778 |
Cars.com, Inc. * | 263,537 | 4,264,029 |
Gannett Co., Inc. * | 843,759 | 4,185,045 |
Gray Television, Inc. | 239,726 | 5,616,780 |
iHeartMedia, Inc., Class A * | 347,963 | 7,463,806 |
IMAX Corp. * | 104,864 | 2,168,587 |
John Wiley & Sons, Inc., Class A | 113,508 | 5,710,587 |
Liberty Media Corp. - Liberty Formula One, Class A * | 15,044 | 844,871 |
Liberty Media Corp. - Liberty Formula One, Class C * | 118,148 | 7,175,128 |
Liberty TripAdvisor Holdings, Inc., Class A * | 599,714 | 1,271,394 |
Lions Gate Entertainment Corp., Class A * | 150,169 | 2,306,596 |
Lions Gate Entertainment Corp., Class B * | 285,692 | 4,071,111 |
Live Nation Entertainment, Inc. * | 83,599 | 10,100,431 |
Madison Square Garden Entertainment Corp. * | 65,338 | 5,119,886 |
Madison Square Garden Sports Corp. * | 16,308 | 2,821,284 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
National CineMedia, Inc. | 739,306 | 2,195,739 |
Nexstar Media Group, Inc., Class A | 73,035 | 13,515,127 |
Scholastic Corp. | 148,951 | 6,267,858 |
Sinclair Broadcast Group, Inc., Class A | 270,939 | 8,128,170 |
Sirius XM Holdings, Inc. (a) | 1,663,475 | 10,247,006 |
Spotify Technology S.A. * | 25,571 | 3,993,934 |
Take-Two Interactive Software, Inc. * | 64,166 | 10,394,892 |
TEGNA, Inc. | 592,552 | 13,581,292 |
The E.W. Scripps Co., Class A * | 108,927 | 2,424,715 |
The Marcus Corp. * | 127,003 | 2,308,915 |
The New York Times Co., Class A | 142,844 | 6,283,708 |
TripAdvisor, Inc. * | 197,738 | 5,030,455 |
World Wrestling Entertainment, Inc., Class A | 40,548 | 2,402,874 |
Yandex N.V., Class A *(b)(c) | 126,894 | 1,243,264 |
Yelp, Inc. * | 161,186 | 5,462,594 |
Ziff Davis, Inc. * | 61,109 | 6,147,565 |
Zynga, Inc., Class A * | 458,108 | 4,159,621 |
182,689,266 | ||
Pharmaceuticals, Biotechnology & Life Sciences 2.2% | ||
Alkermes plc * | 108,289 | 2,692,064 |
Avantor, Inc. * | 125,181 | 4,342,529 |
BioMarin Pharmaceutical, Inc. * | 47,973 | 3,747,651 |
Bio-Rad Laboratories, Inc., Class A * | 10,096 | 6,319,692 |
Bio-Techne Corp. | 11,068 | 4,642,030 |
Bruker Corp. | 78,590 | 5,530,378 |
Catalent, Inc. * | 61,674 | 6,293,215 |
Charles River Laboratories International, Inc. * | 22,416 | 6,526,642 |
Elanco Animal Health, Inc. * | 320,961 | 9,118,502 |
Emergent BioSolutions, Inc. * | 48,494 | 2,006,682 |
Exelixis, Inc. * | 193,812 | 3,978,960 |
Horizon Therapeutics plc * | 34,590 | 3,153,570 |
Incyte Corp. * | 74,532 | 5,090,536 |
Ligand Pharmaceuticals, Inc. * | 13,013 | 1,317,176 |
Medpace Holdings, Inc. * | 12,509 | 1,913,502 |
Myriad Genetics, Inc. * | 166,901 | 4,069,046 |
PerkinElmer, Inc. | 71,965 | 12,925,634 |
Prestige Consumer Healthcare, Inc. * | 86,475 | 5,147,857 |
Royalty Pharma plc, Class A | 41,768 | 1,639,812 |
Syneos Health, Inc. * | 83,151 | 6,585,559 |
West Pharmaceutical Services, Inc. | 26,436 | 10,232,847 |
107,273,884 | ||
Real Estate 10.1% | ||
Acadia Realty Trust | 152,727 | 3,274,467 |
Alexander & Baldwin, Inc. | 280,700 | 6,296,101 |
American Assets Trust, Inc. | 81,247 | 2,970,390 |
American Campus Communities, Inc. | 232,032 | 12,485,642 |
American Homes 4 Rent, Class A | 195,447 | 7,428,940 |
Americold Realty Trust | 139,382 | 3,724,287 |
Brandywine Realty Trust | 519,101 | 6,919,616 |
CareTrust REIT, Inc. | 83,074 | 1,453,795 |
Centerspace | 26,792 | 2,518,180 |
Chatham Lodging Trust * | 239,822 | 3,297,552 |
Corporate Office Properties Trust | 233,411 | 6,117,702 |
Cousins Properties, Inc. | 145,188 | 5,608,612 |
CubeSmart | 169,557 | 8,174,343 |
Cushman & Wakefield plc * | 206,416 | 4,524,639 |
CyrusOne, Inc. | 104,240 | 9,418,084 |
DiamondRock Hospitality Co. * | 797,973 | 7,620,642 |
Douglas Elliman, Inc. * | 212,506 | 1,602,295 |
Douglas Emmett, Inc. | 252,239 | 7,995,976 |
Easterly Government Properties, Inc. | 89,923 | 1,872,197 |
EastGroup Properties, Inc. | 22,842 | 4,357,340 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Empire State Realty Trust, Inc., Class A | 482,132 | 4,560,969 |
EPR Properties | 158,980 | 7,917,204 |
Equity Commonwealth * | 183,694 | 4,880,750 |
Equity LifeStyle Properties, Inc. | 128,227 | 9,568,299 |
Federal Realty Investment Trust | 99,425 | 11,690,391 |
First Industrial Realty Trust, Inc. | 97,244 | 5,599,310 |
Gaming & Leisure Properties, Inc. | 245,464 | 11,146,520 |
Global Net Lease, Inc. | 198,033 | 2,814,049 |
Healthcare Realty Trust, Inc. | 199,331 | 5,198,552 |
Healthcare Trust of America, Inc., Class A | 272,069 | 7,996,108 |
Hersha Hospitality Trust * | 305,768 | 2,822,239 |
Highwoods Properties, Inc. | 207,016 | 9,025,898 |
Hudson Pacific Properties, Inc. | 287,728 | 7,596,019 |
Independence Realty Trust, Inc. | 118,641 | 2,998,058 |
Industrial Logistics Properties Trust | 98,976 | 2,214,093 |
iStar, Inc. | 187,610 | 4,712,763 |
JBG SMITH Properties | 168,298 | 4,490,191 |
Kennedy-Wilson Holdings, Inc. | 245,721 | 5,440,263 |
Kilroy Realty Corp. | 144,638 | 10,358,974 |
Kite Realty Group Trust | 619,239 | 13,579,911 |
Life Storage, Inc. | 66,301 | 8,393,044 |
LTC Properties, Inc. | 62,363 | 2,109,740 |
LXP Industrial Trust | 423,016 | 6,539,827 |
Marcus & Millichap, Inc. * | 53,243 | 2,647,774 |
Medical Properties Trust, Inc. | 439,611 | 8,941,688 |
National Health Investors, Inc. | 59,141 | 3,152,807 |
National Retail Properties, Inc. | 178,062 | 7,587,222 |
Newmark Group, Inc., Class A | 190,270 | 3,363,974 |
Office Properties Income Trust | 191,012 | 4,784,851 |
Outfront Media, Inc. | 436,297 | 11,649,130 |
Paramount Group, Inc. | 709,083 | 7,934,639 |
Pebblebrook Hotel Trust | 380,585 | 8,566,968 |
Physicians Realty Trust | 245,294 | 3,988,480 |
Piedmont Office Realty Trust, Inc., Class A | 422,540 | 7,200,082 |
PotlatchDeltic Corp. | 94,051 | 5,163,400 |
Preferred Apartment Communities, Inc. | 255,520 | 6,454,435 |
PS Business Parks, Inc. | 21,882 | 3,485,584 |
Rayonier, Inc. | 201,279 | 7,990,776 |
Retail Opportunity Investments Corp. | 197,401 | 3,584,802 |
Rexford Industrial Realty, Inc. | 39,308 | 2,756,670 |
RPT Realty | 264,533 | 3,425,702 |
Ryman Hospitality Properties, Inc. * | 93,707 | 8,256,524 |
Sabra Health Care REIT, Inc. | 380,062 | 5,104,233 |
SBA Communications Corp. | 33,547 | 10,177,824 |
Seritage Growth Properties, Class A * | 118,863 | 1,211,214 |
SITE Centers Corp. | 482,501 | 7,502,891 |
Spirit Realty Capital, Inc. | 149,465 | 6,930,692 |
STAG Industrial, Inc. | 105,829 | 4,123,098 |
STORE Capital Corp. | 178,555 | 5,485,210 |
Summit Hotel Properties, Inc. * | 420,477 | 4,158,518 |
Sun Communities, Inc. | 64,736 | 11,717,216 |
Sunstone Hotel Investors, Inc. * | 919,124 | 9,724,332 |
Tanger Factory Outlet Centers, Inc. | 335,440 | 5,595,139 |
Terreno Realty Corp. | 29,352 | 2,019,124 |
The Howard Hughes Corp. * | 35,858 | 3,427,308 |
The Necessity Retail REIT, Inc. | 295,752 | 2,082,094 |
Uniti Group, Inc. | 739,883 | 9,596,283 |
Urban Edge Properties | 247,767 | 4,514,315 |
Veris Residential, Inc. * | 248,520 | 4,199,988 |
VICI Properties, Inc. | 328,017 | 9,171,355 |
Washington Real Estate Investment Trust | 177,487 | 4,146,096 |
Xenia Hotels & Resorts, Inc. * | 444,623 | 8,243,310 |
Zillow Group, Inc., Class A * | 7,797 | 446,534 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Zillow Group, Inc., Class C * | 18,237 | 1,048,992 |
490,875,246 | ||
Retailing 3.4% | ||
Abercrombie & Fitch Co., Class A * | 280,861 | 10,695,187 |
America's Car-Mart, Inc. * | 13,600 | 1,308,048 |
Big 5 Sporting Goods Corp. (a) | 88,415 | 1,464,152 |
Boot Barn Holdings, Inc. * | 23,488 | 2,043,926 |
Caleres, Inc. | 261,775 | 5,434,449 |
Chico's FAS, Inc. * | 2,147,355 | 10,092,569 |
Citi Trends, Inc. * | 28,275 | 1,054,940 |
Conn's, Inc. * | 141,231 | 2,590,177 |
Designer Brands, Inc., Class A * | 590,904 | 7,711,297 |
Dillard's, Inc., Class A | 57,093 | 14,313,786 |
Etsy, Inc. * | 9,159 | 1,418,638 |
Express, Inc. * | 1,410,488 | 6,713,923 |
Five Below, Inc. * | 24,021 | 3,930,076 |
Floor & Decor Holdings, Inc., Class A * | 33,508 | 3,204,035 |
Genesco, Inc. * | 120,555 | 7,733,603 |
Groupon, Inc. * | 188,120 | 4,085,966 |
Guess?, Inc. | 212,110 | 4,645,209 |
Haverty Furniture Cos., Inc. | 86,509 | 2,457,721 |
Hibbett, Inc. | 52,560 | 2,369,405 |
MarineMax, Inc. * | 60,933 | 2,788,294 |
MercadoLibre, Inc. * | 1,854 | 2,088,809 |
Monro, Inc. | 72,697 | 3,393,496 |
National Vision Holdings, Inc. * | 75,977 | 2,786,077 |
Ollie's Bargain Outlet Holdings, Inc. * | 53,369 | 2,304,473 |
Overstock.com, Inc. * | 24,617 | 1,400,707 |
Party City Holdco, Inc. * | 537,276 | 2,326,405 |
PetMed Express, Inc. | 61,997 | 1,670,819 |
Pool Corp. | 22,523 | 10,328,597 |
Rent-A-Center, Inc. | 62,505 | 1,775,767 |
RH * | 4,521 | 1,816,854 |
Sally Beauty Holdings, Inc. * | 532,367 | 9,199,302 |
Shoe Carnival, Inc. | 81,089 | 2,364,555 |
Sleep Number Corp. * | 50,172 | 3,296,300 |
Sonic Automotive, Inc., Class A | 168,999 | 9,076,936 |
Stitch Fix, Inc., Class A * | 44,710 | 561,111 |
The Buckle, Inc. | 90,552 | 3,259,872 |
The Children's Place, Inc. * | 54,496 | 3,431,068 |
TravelCenters of America, Inc. * | 153,963 | 6,501,858 |
Zumiez, Inc. * | 68,035 | 3,026,877 |
166,665,284 | ||
Semiconductors & Semiconductor Equipment 2.2% | ||
Ambarella, Inc. * | 15,691 | 2,192,190 |
Amkor Technology, Inc. | 294,590 | 6,678,355 |
Azenta, Inc. | 33,825 | 2,960,364 |
Cirrus Logic, Inc. * | 125,821 | 10,930,070 |
CMC Materials, Inc. | 24,724 | 4,584,571 |
Diodes, Inc. * | 49,568 | 4,440,797 |
Entegris, Inc. | 57,734 | 7,533,132 |
First Solar, Inc. * | 117,698 | 8,861,482 |
FormFactor, Inc. * | 57,300 | 2,320,077 |
Kulicke & Soffa Industries, Inc. | 85,390 | 4,460,774 |
MKS Instruments, Inc. | 60,336 | 9,086,602 |
Monolithic Power Systems, Inc. | 8,608 | 3,948,490 |
Photronics, Inc. * | 232,431 | 4,281,379 |
Power Integrations, Inc. | 38,666 | 3,479,940 |
Semtech Corp. * | 49,094 | 3,406,142 |
Silicon Laboratories, Inc. * | 24,960 | 3,836,602 |
SolarEdge Technologies, Inc. * | 10,513 | 3,358,062 |
Synaptics, Inc. * | 44,602 | 10,188,435 |
Ultra Clean Holdings, Inc. * | 46,309 | 2,121,415 |
Universal Display Corp. | 11,368 | 1,761,017 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Wolfspeed, Inc. * | 76,280 | 7,835,482 |
108,265,378 | ||
Software & Services 4.5% | ||
ACI Worldwide, Inc. * | 139,049 | 4,660,922 |
Aspen Technology, Inc. * | 46,325 | 7,060,393 |
Avaya Holdings Corp. * | 184,133 | 2,535,511 |
Black Knight, Inc. * | 110,292 | 6,197,307 |
Blackbaud, Inc. * | 36,461 | 2,278,448 |
Block, Inc. * | 14,742 | 1,879,605 |
Cerence, Inc. * | 33,592 | 1,213,007 |
Cognyte Software Ltd. * | 71,106 | 793,543 |
CommVault Systems, Inc. * | 42,794 | 2,692,171 |
Concentrix Corp. | 45,722 | 9,139,371 |
Conduent, Inc. * | 1,344,621 | 6,548,304 |
Consensus Cloud Solutions, Inc. * | 20,864 | 1,161,290 |
CSG Systems International, Inc. | 83,654 | 5,163,125 |
Dolby Laboratories, Inc., Class A | 69,476 | 5,217,648 |
Dropbox, Inc., Class A * | 110,977 | 2,518,068 |
Ebix, Inc. | 92,937 | 2,742,571 |
Envestnet, Inc. * | 28,554 | 2,136,410 |
EPAM Systems, Inc. * | 14,581 | 3,029,203 |
Euronet Worldwide, Inc. * | 66,452 | 8,521,140 |
EVERTEC, Inc. | 69,304 | 2,797,109 |
ExlService Holdings, Inc. * | 35,101 | 4,239,850 |
Fair Isaac Corp. * | 15,458 | 7,283,655 |
Fortinet, Inc. * | 25,122 | 8,655,031 |
Gartner, Inc. * | 41,520 | 11,643,038 |
Globant S.A. * | 8,589 | 2,353,386 |
GoDaddy, Inc., Class A * | 60,077 | 5,011,023 |
Guidewire Software, Inc. * | 18,683 | 1,646,906 |
InterDigital, Inc. | 85,011 | 5,476,409 |
LiveRamp Holdings, Inc. * | 131,707 | 5,684,474 |
Manhattan Associates, Inc. * | 39,589 | 5,292,258 |
MicroStrategy, Inc., Class A *(a) | 3,347 | 1,482,721 |
Nuance Communications, Inc. * | 93,404 | 5,185,790 |
Pagseguro Digital Ltd., Class A * | 60,125 | 958,393 |
Palo Alto Networks, Inc. * | 13,520 | 8,034,260 |
Paycom Software, Inc. * | 7,278 | 2,468,770 |
Pegasystems, Inc. | 16,082 | 1,401,064 |
Perficient, Inc. * | 29,159 | 2,971,302 |
Progress Software Corp. | 73,204 | 3,226,832 |
PTC, Inc. * | 33,539 | 3,732,220 |
ServiceNow, Inc. * | 5,343 | 3,098,513 |
Splunk, Inc. * | 28,404 | 3,354,512 |
StoneCo Ltd., Class A * | 44,874 | 504,384 |
Tyler Technologies, Inc. * | 10,575 | 4,528,849 |
Unisys Corp. * | 128,099 | 2,737,476 |
Verint Systems, Inc. * | 61,843 | 3,106,374 |
VMware, Inc., Class A | 147,105 | 17,258,359 |
Vonage Holdings Corp. * | 211,139 | 4,290,344 |
WEX, Inc. * | 37,531 | 6,324,349 |
Workday, Inc., Class A * | 10,531 | 2,412,126 |
Xperi Holding Corp. | 162,253 | 2,810,222 |
215,458,036 | ||
Technology Hardware & Equipment 4.3% | ||
3D Systems Corp. * | 65,924 | 1,174,766 |
ADTRAN, Inc. | 146,628 | 3,019,070 |
Advanced Energy Industries, Inc. | 40,582 | 3,483,965 |
Arista Networks, Inc. * | 83,353 | 10,229,914 |
Badger Meter, Inc. | 24,876 | 2,472,923 |
Belden, Inc. | 144,497 | 8,142,406 |
Benchmark Electronics, Inc. | 346,857 | 9,066,842 |
Ciena Corp. * | 202,113 | 13,828,571 |
Cognex Corp. | 77,356 | 5,226,171 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Coherent, Inc. * | 30,097 | 7,955,239 |
CommScope Holding Co., Inc. * | 760,573 | 7,255,866 |
Comtech Telecommunications Corp. | 86,001 | 1,769,901 |
CTS Corp. | 63,368 | 2,404,182 |
ePlus, Inc. * | 95,103 | 4,460,331 |
Fabrinet * | 53,105 | 5,317,404 |
II-VI, Inc. * | 68,756 | 4,775,792 |
IPG Photonics Corp. * | 38,453 | 5,012,349 |
Itron, Inc. * | 56,620 | 2,699,075 |
Knowles Corp. * | 199,170 | 4,337,923 |
Littelfuse, Inc. | 25,296 | 6,531,680 |
Lumentum Holdings, Inc. * | 46,864 | 4,632,975 |
Methode Electronics, Inc. | 93,296 | 4,258,029 |
National Instruments Corp. | 217,136 | 8,718,010 |
NETGEAR, Inc. * | 101,652 | 2,704,960 |
NetScout Systems, Inc. * | 301,455 | 9,384,294 |
Novanta, Inc. * | 13,718 | 1,874,290 |
OSI Systems, Inc. * | 40,534 | 3,269,878 |
PC Connection, Inc. | 79,573 | 3,882,367 |
Plantronics, Inc. * | 119,655 | 3,370,681 |
Plexus Corp. * | 97,421 | 7,936,889 |
Rogers Corp. * | 20,219 | 5,519,787 |
ScanSource, Inc. * | 286,291 | 9,041,070 |
Stratasys Ltd. * | 90,122 | 2,260,260 |
Super Micro Computer, Inc. * | 180,778 | 7,102,768 |
TTM Technologies, Inc. * | 512,155 | 6,437,788 |
ViaSat, Inc. * | 113,976 | 5,201,865 |
Viavi Solutions, Inc. * | 173,716 | 2,848,942 |
Vishay Intertechnology, Inc. | 454,206 | 8,716,213 |
206,325,436 | ||
Telecommunication Services 0.6% | ||
ATN International, Inc. | 48,083 | 1,602,606 |
Cogent Communications Holdings, Inc. | 47,192 | 2,991,973 |
Consolidated Communications Holdings, Inc. * | 750,412 | 5,342,933 |
EchoStar Corp., Class A * | 197,372 | 4,804,035 |
Iridium Communications, Inc. * | 76,890 | 3,044,075 |
Liberty Latin America Ltd., Class A * | 180,399 | 1,813,010 |
Liberty Latin America Ltd., Class C * | 596,730 | 6,021,006 |
Shenandoah Telecommunications Co. | 92,337 | 2,063,732 |
United States Cellular Corp. * | 91,720 | 2,523,217 |
30,206,587 | ||
Transportation 2.5% | ||
Air Transport Services Group, Inc. * | 153,232 | 4,828,340 |
Alaska Air Group, Inc. * | 141,260 | 7,930,336 |
Allegiant Travel Co. * | 10,972 | 1,910,115 |
AMERCO | 14,778 | 8,535,921 |
ArcBest Corp. | 111,719 | 10,354,117 |
Atlas Air Worldwide Holdings, Inc. * | 88,062 | 6,900,538 |
Atlas Corp. | 216,054 | 3,117,659 |
Copa Holdings S.A., Class A * | 30,952 | 2,625,968 |
Costamare, Inc. | 158,836 | 2,144,286 |
Forward Air Corp. | 64,674 | 6,673,063 |
Hawaiian Holdings, Inc. * | 119,484 | 2,291,703 |
Heartland Express, Inc. | 166,095 | 2,385,124 |
Hub Group, Inc., Class A * | 147,540 | 12,452,376 |
JetBlue Airways Corp. * | 519,666 | 7,935,300 |
Marten Transport Ltd. | 195,127 | 3,365,941 |
Mesa Air Group, Inc. * | 217,340 | 945,429 |
Saia, Inc. * | 24,524 | 7,044,029 |
Schneider National, Inc., Class B | 258,274 | 6,746,117 |
SkyWest, Inc. * | 65,110 | 1,830,242 |
Spirit Airlines, Inc. * | 99,769 | 2,502,207 |
Uber Technologies, Inc. * | 210,259 | 7,575,632 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Werner Enterprises, Inc. | 230,644 | 10,023,788 |
Yellow Corp. * | 263,224 | 2,371,648 |
122,489,879 | ||
Utilities 3.5% | ||
ALLETE, Inc. | 140,867 | 8,866,169 |
American States Water Co. | 41,753 | 3,513,932 |
Atlantica Sustainable Infrastructure plc | 128,532 | 4,337,955 |
Avangrid, Inc. | 145,534 | 6,530,111 |
Avista Corp. | 213,735 | 9,538,993 |
Black Hills Corp. | 151,483 | 10,602,295 |
California Water Service Group | 60,225 | 3,428,609 |
Chesapeake Utilities Corp. | 22,001 | 2,925,033 |
Clearway Energy, Inc., Class A | 36,927 | 1,129,597 |
Clearway Energy, Inc., Class C | 87,811 | 2,932,887 |
Essential Utilities, Inc. | 193,515 | 9,116,492 |
Hawaiian Electric Industries, Inc. | 272,278 | 11,157,952 |
IDACORP, Inc. | 96,422 | 10,023,067 |
MGE Energy, Inc. | 52,512 | 3,781,914 |
National Fuel Gas Co. | 176,502 | 10,985,485 |
New Jersey Resources Corp. | 220,357 | 9,611,972 |
Northwest Natural Holding Co. | 79,462 | 4,132,819 |
NorthWestern Corp. | 148,464 | 8,979,103 |
ONE Gas, Inc. | 129,357 | 10,748,273 |
Ormat Technologies, Inc. | 48,029 | 3,426,869 |
Otter Tail Corp. | 87,907 | 5,437,927 |
PNM Resources, Inc. | 166,019 | 7,499,078 |
SJW Group | 34,872 | 2,274,352 |
South Jersey Industries, Inc. | 236,477 | 8,023,665 |
Spire, Inc. | 140,213 | 9,409,694 |
Unitil Corp. | 47,291 | 2,387,723 |
170,801,966 | ||
Total Common Stocks (Cost $4,047,947,583) | 4,835,510,385 |
SHORT-TERM INVESTMENTS 0.9% OF NET ASSETS | ||
Money Market Funds 0.9% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (d) | 3,953,147 | 3,953,147 |
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (d)(e) | 40,377,530 | 40,377,530 |
44,330,677 | ||
Total Short-Term Investments (Cost $44,330,677) | 44,330,677 | |
Total Investments in Securities (Cost $4,092,278,260) | 4,879,841,062 |
NUMBER OF CONTRACTS | NOTIONAL AMOUNT ($) | CURRENT VALUE/ UNREALIZED APPRECIATION ($) | |
FUTURES CONTRACTS | |||
Long | |||
Russell 2000 Index, e-mini, expires 03/18/22 | 73 | 7,462,425 | 48,782 |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $40,098,369. |
(b) | Trading in Russian securities listed on the Moscow Exchange, Russian ADRs, and Russian GDRs had ceased and suspended the fund’s ability to buy or sell these securities as of February 28, 2022. |
(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. |
(e) | Security purchased with cash collateral received for securities on loan. |
ADR — | American Depositary Receipt |
GDR — | Global Depositary Receipt |
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 Stocks1 | $4,652,821,119 | $— | $— | $4,652,821,119 |
Media & Entertainment | 181,446,002 | — | 1,243,264 2 | 182,689,266 |
Short-Term Investments1 | 44,330,677 | — | — | 44,330,677 |
Futures Contracts3 | 48,782 | — | — | 48,782 |
Total | $4,878,646,580 | $— | $1,243,264 | $4,879,889,844 |
1 | As categorized in the Portfolio Holdings. |
2 | Trading in Russian securities listed on the Moscow Exchange, Russian ADRs, and Russian GDRs had ceased and suspended the fund’s ability to buy or sell these securities as of February 28, 2022. |
3 | Futures contracts are reported at cumulative unrealized appreciation or depreciation. |
Assets | ||
Investments in securities, at value - unaffiliated (cost $4,092,278,260) including securities on loan of $40,098,369 | $4,879,841,062 | |
Deposit with broker for futures contracts | 346,500 | |
Receivables: | ||
Fund shares sold | 5,300,051 | |
Dividends | 4,139,812 | |
Investments sold | 2,613,185 | |
Income from securities on loan | 27,132 | |
Variation margin on future contracts | + | 17,484 |
Total assets | 4,892,285,226 | |
Liabilities | ||
Collateral held for securities on loan | 40,377,530 | |
Payables: | ||
Investments bought | 5,226,370 | |
Fund shares redeemed | 2,650,026 | |
Management fees | + | 919,299 |
Total liabilities | 49,173,225 | |
Net assets | $4,843,112,001 | |
Net Assets by Source | ||
Capital received from investors | $4,535,235,630 | |
Total distributable earnings | + | 307,876,371 |
Net assets | $4,843,112,001 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$4,843,112,001 | 91,350,000 | $53.02 | ||
For the period March 1, 2021 through February 28, 2022 | ||
Investment Income | ||
Dividends received from securities - unaffiliated (net of foreign withholding tax of $34,600) | $67,369,414 | |
Securities on loan, net | + | 549,183 |
Total investment income | 67,918,597 | |
Expenses | ||
Management fees | 11,635,781 | |
Total expenses | – | 11,635,781 |
Net investment income | 56,282,816 | |
REALIZED AND UNREALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - unaffiliated | 5,682,212 | |
Net realized gains on sales of in-kind redemptions - unaffiliated | 441,947,802 | |
Net realized losses on futures contracts | + | (1,431,490) |
Net realized gains | 446,198,524 | |
Net change in unrealized appreciation (depreciation) on securities - unaffiliated | (107,762,044) | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | 123,462 |
Net change in unrealized appreciation (depreciation) | + | (107,638,582) |
Net realized and unrealized gains | 338,559,942 | |
Increase in net assets resulting from operations | $394,842,758 |
OPERATIONS | |||
3/1/21-2/28/22 | 3/1/20-2/28/21 | ||
Net investment income | $56,282,816 | $45,715,884 | |
Net realized gains | 446,198,524 | 74,363,692 | |
Net change in unrealized appreciation (depreciation) | + | (107,638,582) | 1,138,500,407 |
Increase in net assets resulting from operations | $394,842,758 | $1,258,579,983 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Total distributions | ($56,395,300) | ($51,561,985) |
TRANSACTIONS IN FUND SHARES | |||||
3/1/21-2/28/22 | 3/1/20-2/28/21 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 23,050,000 | $1,234,091,769 | 30,900,000 | $953,673,482 | |
Shares redeemed | + | (15,500,000) | (815,045,637) | (45,700,000) | (1,499,782,894) |
Net transactions in fund shares | 7,550,000 | $419,046,132 | (14,800,000) | ($546,109,412) | |
SHARES OUTSTANDING AND NET ASSETS | |||||
3/1/21-2/28/22 | 3/1/20-2/28/21 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 83,800,000 | $4,085,618,411 | 98,600,000 | $3,424,709,825 | |
Total increase (decrease) | + | 7,550,000 | 757,493,590 | (14,800,000) | 660,908,586 |
End of period | 91,350,000 | $4,843,112,001 | 83,800,000 | $4,085,618,411 |
3/1/21– 2/28/22 | 3/1/20– 2/28/21 | 3/1/19– 2/29/20 | 3/1/18– 2/28/19 | 3/1/17– 2/28/18 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $30.94 | $25.24 | $27.54 | $30.28 | $26.00 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 1.04 | 0.70 | 0.91 | 0.94 | 0.80 | |
Net realized and unrealized gains (losses) | 1.42 | 5.64 | (2.29) | (2.81) | 4.19 | |
Total from investment operations | 2.46 | 6.34 | (1.38) | (1.87) | 4.99 | |
Less distributions: | ||||||
Distributions from net investment income | (1.15) | (0.64) | (0.92) | (0.87) | (0.71) | |
Net asset value at end of period | $32.25 | $30.94 | $25.24 | $27.54 | $30.28 | |
Total return | 7.95% | 25.47% | (5.32%) | (6.00%) | 19.19% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | |
Net investment income (loss) | 3.16% | 2.74% | 3.27% | 3.29% | 2.76% | |
Portfolio turnover rate2 | 15% | 15% | 20% | 14% | 10% | |
Net assets, end of period (x 1,000) | $7,381,580 | $5,721,053 | $4,416,696 | $4,083,580 | $3,630,569 |
1 | Calculated based on the average shares outstanding during the period. |
2 | Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions. |
SECURITY | NUMBER OF SHARES | VALUE ($) |
COMMON STOCKS 98.6% OF NET ASSETS | ||
Australia 5.5% | ||
AGL Energy Ltd. | 1,219,367 | 6,653,948 |
Amcor plc | 416,645 | 4,795,087 |
AMP Ltd. * | 4,636,887 | 3,179,695 |
Ampol Ltd. | 289,146 | 6,183,359 |
APA Group | 370,374 | 2,701,057 |
Aristocrat Leisure Ltd. | 72,095 | 1,949,807 |
Aurizon Holdings Ltd. | 1,283,929 | 3,260,890 |
Australia & New Zealand Banking Group Ltd. | 1,241,986 | 23,441,435 |
Bendigo & Adelaide Bank Ltd. | 242,791 | 1,693,102 |
BHP Group Ltd. | 1,876,601 | 63,539,505 |
BlueScope Steel Ltd. | 332,552 | 4,884,243 |
Boral Ltd. (a) | 396,461 | 1,044,322 |
Brambles Ltd. | 580,084 | 4,167,285 |
Coles Group Ltd. | 660,822 | 8,334,152 |
Commonwealth Bank of Australia | 511,645 | 34,699,375 |
Computershare Ltd. | 145,667 | 2,289,532 |
Crown Resorts Ltd. * | 266,109 | 2,390,602 |
CSL Ltd. | 38,327 | 7,230,560 |
Downer EDI Ltd. | 584,938 | 2,139,280 |
Endeavour Group Ltd. | 579,219 | 3,009,421 |
Fortescue Metals Group Ltd. | 381,299 | 5,021,916 |
Goodman Group | 140,888 | 2,272,692 |
Incitec Pivot Ltd. | 1,024,664 | 2,297,561 |
Insurance Australia Group Ltd. | 1,234,562 | 4,120,955 |
James Hardie Industries plc | 48,324 | 1,565,711 |
JB Hi-Fi Ltd. | 44,347 | 1,586,815 |
Lendlease Corp., Ltd. | 545,541 | 4,180,406 |
Macquarie Group Ltd. | 71,577 | 9,389,685 |
Medibank Pvt Ltd. | 1,336,811 | 3,084,781 |
Metcash Ltd. | 889,034 | 2,657,925 |
Mirvac Group | 1,234,245 | 2,319,681 |
National Australia Bank Ltd. | 1,254,003 | 26,334,450 |
Newcrest Mining Ltd. | 215,527 | 4,014,715 |
Orica Ltd. | 185,473 | 1,963,646 |
Origin Energy Ltd. | 1,409,023 | 5,828,007 |
Qantas Airways Ltd. * | 595,898 | 2,192,336 |
QBE Insurance Group Ltd. | 561,419 | 4,680,953 |
Ramsay Health Care Ltd. | 46,537 | 2,160,239 |
Rio Tinto Ltd. | 170,187 | 14,593,544 |
Santos Ltd. | 814,125 | 4,288,988 |
Scentre Group | 1,949,747 | 4,343,540 |
Sims Ltd. | 184,021 | 2,431,669 |
Sonic Healthcare Ltd. | 111,668 | 2,840,167 |
South32 Ltd. | 2,440,955 | 8,519,851 |
Stockland | 900,634 | 2,718,747 |
Suncorp Group Ltd. | 888,873 | 6,946,764 |
Tabcorp Holdings Ltd. | 580,872 | 2,103,334 |
Telstra Corp., Ltd. | 3,142,301 | 9,029,633 |
Transurban Group | 391,925 | 3,609,040 |
Treasury Wine Estates Ltd. | 203,187 | 1,713,283 |
Viva Energy Group Ltd. | 1,411,381 | 2,498,971 |
Wesfarmers Ltd. | 432,243 | 15,115,135 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Westpac Banking Corp. | 1,715,480 | 28,394,753 |
Woodside Petroleum Ltd. | 508,254 | 10,525,965 |
Woolworths Group Ltd. | 587,516 | 15,130,485 |
408,063,000 | ||
Austria 0.2% | ||
Erste Group Bank AG | 133,194 | 4,785,818 |
OMV AG | 105,309 | 5,012,839 |
Raiffeisen Bank International AG | 90,146 | 1,485,367 |
voestalpine AG | 108,055 | 3,573,057 |
Wienerberger AG | 53,707 | 1,615,470 |
�� | 16,472,551 | |
Belgium 0.8% | ||
Ageas S.A. N.V. | 90,063 | 4,347,806 |
Anheuser-Busch InBev S.A. N.V. | 368,089 | 22,796,957 |
Etablissements Franz Colruyt N.V. | 36,919 | 1,479,558 |
Groupe Bruxelles Lambert S.A. | 53,839 | 5,620,267 |
KBC Group N.V. | 96,187 | 6,970,566 |
Proximus SADP | 130,637 | 2,605,952 |
Solvay S.A. | 41,655 | 4,665,591 |
UCB S.A. | 30,590 | 3,356,845 |
Umicore S.A. | 76,631 | 3,157,981 |
55,001,523 | ||
Canada 8.2% | ||
Agnico Eagle Mines Ltd. | 62,695 | 3,165,026 |
Air Canada * | 122,023 | 2,304,136 |
Alimentation Couche-Tard, Inc. | 364,986 | 14,316,280 |
AltaGas Ltd. | 94,220 | 2,074,051 |
ARC Resources Ltd. | 470,102 | 5,807,938 |
Atco Ltd., Class I | 62,537 | 2,052,600 |
Bank of Montreal | 166,452 | 18,993,652 |
Barrick Gold Corp. | 437,457 | 9,881,455 |
Bausch Health Cos., Inc. * | 126,262 | 3,035,226 |
BCE, Inc. | 138,681 | 7,278,743 |
Brookfield Asset Management Reinsurance Partners Ltd., Class A * | 1,376 | 76,223 |
Brookfield Asset Management, Inc., Class A | 340,245 | 18,582,230 |
Canadian Imperial Bank of Commerce | 132,911 | 16,811,536 |
Canadian National Railway Co. | 163,208 | 20,233,237 |
Canadian Natural Resources Ltd. | 483,551 | 26,995,897 |
Canadian Pacific Railway Ltd. | 166,001 | 11,680,994 |
Canadian Tire Corp., Ltd., Class A | 31,887 | 4,698,012 |
CCL Industries, Inc., Class B | 33,473 | 1,507,981 |
Cenovus Energy, Inc. | 518,972 | 8,154,777 |
CGI, Inc. * | 76,115 | 6,236,347 |
CI Financial Corp. | 139,702 | 2,285,502 |
Crescent Point Energy Corp. | 885,092 | 6,329,313 |
Dollarama, Inc. | 54,975 | 2,839,013 |
Emera, Inc. | 83,882 | 3,921,790 |
Empire Co., Ltd., A Shares | 100,052 | 3,096,970 |
Enbridge, Inc. | 628,437 | 27,132,266 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Fairfax Financial Holdings Ltd. | 11,550 | 5,595,378 |
Finning International, Inc. | 81,208 | 2,361,297 |
First Quantum Minerals Ltd. | 99,203 | 2,907,222 |
Fortis, Inc. | 151,603 | 6,942,171 |
George Weston Ltd. | 55,401 | 6,003,322 |
Gildan Activewear, Inc. | 82,945 | 3,254,104 |
Great-West Lifeco, Inc. | 97,452 | 2,929,668 |
H&R Real Estate Investment Trust | 140,777 | 1,435,130 |
Hydro One Ltd. | 107,042 | 2,641,554 |
IA Financial Corp., Inc. | 33,500 | 1,989,108 |
Imperial Oil Ltd. | 163,643 | 7,339,970 |
Intact Financial Corp. | 25,220 | 3,614,731 |
Keyera Corp. | 93,036 | 2,177,821 |
Kinross Gold Corp. | 411,148 | 2,048,690 |
Linamar Corp. | 35,806 | 1,868,569 |
Loblaw Cos., Ltd. | 100,231 | 7,813,174 |
Magna International, Inc. | 220,793 | 16,393,012 |
Manulife Financial Corp. | 629,921 | 12,753,870 |
Methanex Corp. | 51,895 | 2,700,005 |
Metro, Inc. | 110,466 | 5,762,156 |
National Bank of Canada | 76,688 | 6,144,835 |
Nutrien Ltd. | 260,460 | 22,385,575 |
Onex Corp. | 56,040 | 3,760,890 |
Open Text Corp. | 48,970 | 2,129,684 |
Parkland Corp. | 78,515 | 2,053,331 |
Pembina Pipeline Corp. | 170,601 | 5,797,219 |
Power Corp. of Canada | 206,396 | 6,361,036 |
Primaris REIT | 35,174 | 396,569 |
Quebecor, Inc., Class B | 69,388 | 1,516,486 |
Restaurant Brands International, Inc. | 45,507 | 2,545,608 |
RioCan Real Estate Investment Trust | 111,368 | 2,205,672 |
Rogers Communications, Inc., B Shares | 158,895 | 8,204,386 |
Royal Bank of Canada | 351,207 | 38,824,247 |
Saputo, Inc. | 107,590 | 2,634,719 |
Shaw Communications, Inc., B Shares | 174,148 | 5,218,879 |
SNC-Lavalin Group, Inc. | 91,745 | 2,064,416 |
Sun Life Financial, Inc. | 160,780 | 8,450,029 |
Suncor Energy, Inc. | 1,243,993 | 38,015,665 |
TC Energy Corp. | 283,039 | 15,196,875 |
Teck Resources Ltd., Class B | 277,745 | 9,994,309 |
TELUS Corp. | 159,576 | 4,027,301 |
TFI International, Inc. | 20,324 | 2,117,087 |
The Bank of Nova Scotia | 421,386 | 30,515,476 |
The Toronto-Dominion Bank | 450,580 | 36,334,862 |
Thomson Reuters Corp. | 41,927 | 4,236,500 |
Vermilion Energy, Inc. * | 244,299 | 4,564,896 |
Waste Connections, Inc. | 30,004 | 3,702,153 |
West Fraser Timber Co., Ltd. | 28,392 | 2,832,149 |
WSP Global, Inc. | 21,337 | 2,616,089 |
602,869,090 | ||
Denmark 0.9% | ||
AP Moller - Maersk A/S, A Shares | 1,672 | 5,024,167 |
AP Moller - Maersk A/S, B Shares | 2,413 | 7,658,872 |
Carlsberg A/S, B Shares | 24,450 | 3,589,296 |
Coloplast A/S, B Shares | 12,716 | 1,916,650 |
Danske Bank A/S | 420,329 | 7,152,997 |
DSV A/S | 19,696 | 3,649,197 |
ISS A/S * | 172,241 | 3,165,205 |
Novo Nordisk A/S, B Shares | 200,744 | 20,675,946 |
Novozymes A/S, B Shares | 34,516 | 2,268,214 |
Orsted A/S | 27,955 | 3,635,283 |
Pandora A/S | 26,129 | 2,705,007 |
Vestas Wind Systems A/S | 172,318 | 5,659,325 |
67,100,159 | ||
SECURITY | NUMBER OF SHARES | VALUE ($) |
Finland 0.9% | ||
Elisa Oyj | 36,088 | 2,008,463 |
Fortum Oyj | 126,045 | 2,667,251 |
Kesko Oyj, B Shares | 84,553 | 2,501,509 |
Kone Oyj, B Shares | 71,813 | 4,224,992 |
Neste Oyj | 93,630 | 3,699,714 |
Nokia Oyj * | 2,251,622 | 12,234,148 |
Nokian Renkaat Oyj | 60,473 | 1,154,696 |
Nordea Bank Abp | 1,305,838 | 14,590,910 |
Outokumpu Oyj * | 372,829 | 2,213,574 |
Sampo Oyj, A Shares | 146,527 | 6,971,575 |
Stora Enso Oyj, R Shares | 282,705 | 5,452,066 |
UPM-Kymmene Oyj | 268,577 | 9,351,640 |
Wartsila Oyj Abp | 220,744 | 2,496,753 |
69,567,291 | ||
France 8.3% | ||
Accor S.A. * | 59,299 | 2,037,437 |
Air France-KLM *(a) | 653,271 | 2,899,063 |
Air Liquide S.A. | 109,383 | 18,269,139 |
Airbus SE * | 90,456 | 11,673,866 |
Alstom S.A. | 122,025 | 3,138,641 |
Arkema S.A. | 37,473 | 5,004,464 |
Atos SE | 53,653 | 1,924,803 |
AXA S.A. | 883,171 | 24,080,268 |
BNP Paribas S.A. | 603,562 | 35,597,639 |
Bollore S.A. | 419,042 | 2,135,892 |
Bouygues S.A. | 199,668 | 7,181,036 |
Bureau Veritas S.A. | 63,534 | 1,831,134 |
Capgemini SE | 37,186 | 7,864,789 |
Carrefour S.A. | 669,242 | 13,455,304 |
Casino Guichard Perrachon S.A. * | 117,456 | 2,098,953 |
Cie de Saint-Gobain | 285,316 | 17,930,133 |
Cie Generale des Etablissements Michelin S.C.A. | 102,351 | 14,255,126 |
CNP Assurances | 92,492 | 2,261,621 |
Credit Agricole S.A. | 525,288 | 6,764,983 |
Danone S.A. | 224,066 | 13,668,254 |
Dassault Systemes SE | 34,229 | 1,672,018 |
Eiffage S.A. | 52,411 | 5,375,831 |
Electricite de France S.A. | 555,299 | 5,070,779 |
Elis S.A. * | 111,330 | 1,799,411 |
Engie S.A. | 1,215,896 | 19,485,736 |
EssilorLuxottica S.A. | 38,628 | 6,799,609 |
Eurazeo SE | 19,262 | 1,498,230 |
Eutelsat Communications S.A. | 175,146 | 1,939,306 |
Faurecia SE | 88,566 | 3,387,205 |
Hermes International | 1,741 | 2,428,721 |
Kering S.A. | 9,783 | 7,000,627 |
Klepierre S.A. * | 82,540 | 2,378,912 |
Lagardere S.A. * | 94,214 | 2,685,742 |
Legrand S.A. | 50,493 | 4,810,461 |
L'Oreal S.A. | 30,008 | 11,965,275 |
LVMH Moet Hennessy Louis Vuitton SE | 27,768 | 20,581,642 |
Orange S.A. | 2,151,795 | 26,136,326 |
Pernod-Ricard S.A. | 35,997 | 7,910,491 |
Publicis Groupe S.A. | 90,526 | 6,064,126 |
Renault S.A. * | 413,526 | 13,256,048 |
Rexel S.A. * | 266,005 | 5,914,290 |
Rubis S.C.A. | 57,746 | 1,814,144 |
Safran S.A. | 71,162 | 9,167,879 |
Sanofi | 361,457 | 37,947,762 |
Schneider Electric SE | 124,811 | 19,595,447 |
SCOR SE | 105,160 | 3,440,712 |
SES S.A. | 398,768 | 3,157,670 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Societe Generale S.A. | 858,683 | 24,729,092 |
Sodexo S.A. | 50,203 | 4,234,741 |
STMicroelectronics N.V. | 103,660 | 4,417,391 |
Technip Energies N.V. * | 83,986 | 951,821 |
Teleperformance | 6,976 | 2,600,585 |
Thales S.A. | 33,002 | 3,814,283 |
TotalEnergies SE | 2,032,929 | 104,099,607 |
Valeo S.A. | 251,600 | 5,591,186 |
Veolia Environnement S.A. | 279,091 | 9,783,559 |
Vinci S.A. | 192,755 | 20,463,817 |
Vivendi SE | 194,086 | 2,465,552 |
Wendel SE | 18,032 | 1,844,086 |
612,352,665 | ||
Germany 7.0% | ||
adidas AG | 37,914 | 9,030,154 |
Allianz SE | 173,903 | 39,710,169 |
Aurubis AG | 47,828 | 5,643,331 |
BASF SE | 608,697 | 40,508,560 |
Bayer AG | 585,439 | 33,871,192 |
Bayerische Motoren Werke AG | 304,030 | 29,559,084 |
Beiersdorf AG | 21,184 | 2,151,443 |
Brenntag SE | 62,939 | 5,293,500 |
Commerzbank AG * | 892,740 | 7,554,538 |
Continental AG * | 101,331 | 8,740,994 |
Covestro AG | 138,541 | 7,346,316 |
Daimler Truck Holding AG * | 279,399 | 8,529,657 |
Deutsche Bank AG * | 637,606 | 8,063,954 |
Deutsche Boerse AG | 23,779 | 4,078,401 |
Deutsche Lufthansa AG * | 935,653 | 7,224,065 |
Deutsche Post AG | 347,767 | 17,640,041 |
Deutsche Telekom AG | 2,129,448 | 38,340,507 |
Deutsche Wohnen SE | 16,846 | 704,067 |
E.ON SE | 922,363 | 12,554,231 |
Evonik Industries AG | 115,184 | 3,478,886 |
Freenet AG | 74,231 | 1,999,364 |
Fresenius Medical Care AG & Co. KGaA | 111,834 | 7,200,080 |
Fresenius SE & Co. KGaA | 283,000 | 9,938,072 |
GEA Group AG | 62,999 | 2,764,613 |
Hannover Rueck SE | 19,946 | 3,692,073 |
HeidelbergCement AG | 104,593 | 6,830,224 |
Henkel AG & Co. KGaA | 46,994 | 3,620,961 |
HUGO BOSS AG | 40,196 | 2,474,120 |
Infineon Technologies AG | 174,056 | 6,010,641 |
K+S AG * | 206,980 | 5,333,092 |
KION Group AG | 23,128 | 1,874,528 |
Knorr-Bremse AG | 17,216 | 1,527,625 |
LANXESS AG | 49,294 | 2,412,896 |
Mercedes-Benz Group AG | 558,884 | 44,048,430 |
Merck KGaA | 19,918 | 3,972,132 |
METRO AG * | 220,210 | 2,067,762 |
MTU Aero Engines AG | 10,717 | 2,602,473 |
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 51,391 | 14,266,090 |
ProSiebenSat.1 Media SE | 111,746 | 1,539,419 |
Rheinmetall AG | 27,209 | 4,082,971 |
RWE AG | 248,836 | 11,596,153 |
Salzgitter AG * | 62,137 | 2,748,421 |
SAP SE | 179,146 | 20,387,294 |
Siemens AG | 231,714 | 32,964,694 |
Siemens Energy AG * | 153,021 | 3,683,244 |
Siemens Healthineers AG | 39,351 | 2,540,562 |
Symrise AG | 16,305 | 1,950,418 |
Telefonica Deutschland Holding AG | 659,825 | 1,812,028 |
ThyssenKrupp AG * | 329,665 | 3,554,687 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Uniper SE | 118,899 | 3,806,101 |
United Internet AG | 59,833 | 2,040,327 |
Vitesco Technologies Group AG * | 21,950 | 930,698 |
Volkswagen AG | 22,226 | 5,871,593 |
Vonovia SE | 93,279 | 4,976,623 |
517,143,499 | ||
Hong Kong 1.7% | ||
AAC Technologies Holdings, Inc. | 316,148 | 865,860 |
AIA Group Ltd. | 1,563,601 | 16,258,953 |
BOC Hong Kong Holdings Ltd. | 1,508,345 | 5,424,382 |
CK Asset Holdings Ltd. | 1,213,958 | 7,667,152 |
CK Hutchison Holdings Ltd. | 2,446,731 | 17,144,058 |
CLP Holdings Ltd. | 732,056 | 7,452,942 |
Galaxy Entertainment Group Ltd. * | 476,451 | 2,649,423 |
Hang Seng Bank Ltd. | 230,173 | 4,247,789 |
Henderson Land Development Co., Ltd. | 417,483 | 1,736,463 |
Hong Kong & China Gas Co., Ltd. | 2,017,904 | 3,052,539 |
Hong Kong Exchanges & Clearing Ltd. | 45,984 | 2,222,194 |
Hongkong Land Holdings Ltd. | 441,991 | 2,382,331 |
Jardine Matheson Holdings Ltd. | 103,589 | 6,163,545 |
Lenovo Group Ltd. | 3,862,802 | 4,296,012 |
Link REIT | 298,298 | 2,408,923 |
MTR Corp., Ltd. | 492,629 | 2,550,244 |
New World Development Co., Ltd. | 1,059,011 | 4,235,393 |
Noble Group Ltd. *(a)(b) | 54,070,092 | 597,482 |
PCCW Ltd. | 3,700,570 | 2,064,897 |
Samsonite International S.A. * | 858,945 | 1,912,749 |
Sands China Ltd. * | 985,604 | 2,579,521 |
Sino Land Co., Ltd. | 1,240,413 | 1,560,498 |
Sun Hung Kai Properties Ltd. | 615,976 | 7,165,903 |
Swire Pacific Ltd., A Shares | 780,925 | 4,317,540 |
Techtronic Industries Co., Ltd. | 127,127 | 2,123,203 |
The Wharf Holdings Ltd. | 905,346 | 3,267,435 |
WH Group Ltd. | 8,707,367 | 6,073,326 |
Wharf Real Estate Investment Co., Ltd. | 477,841 | 2,143,457 |
Yue Yuen Industrial Holdings Ltd. * | 1,139,465 | 1,924,944 |
126,489,158 | ||
Ireland 0.1% | ||
Bank of Ireland Group plc * | 418,598 | 2,777,761 |
Kerry Group plc, A Shares | 27,480 | 3,277,922 |
Kingspan Group plc | 20,116 | 1,962,089 |
8,017,772 | ||
Israel 0.2% | ||
Bank Hapoalim B.M. | 304,893 | 3,223,517 |
Bank Leumi Le-Israel B.M. | 448,995 | 4,857,710 |
ICL Group Ltd. | 309,384 | 3,513,260 |
Teva Pharmaceutical Industries Ltd. * | 535,307 | 4,341,974 |
15,936,461 | ||
Italy 2.9% | ||
A2A S.p.A. | 927,345 | 1,663,426 |
Assicurazioni Generali S.p.A. | 627,436 | 12,494,977 |
Atlantia S.p.A. * | 278,157 | 5,126,912 |
Banco BPM S.p.A. | 865,266 | 2,994,323 |
CNH Industrial N.V. | 405,226 | 5,837,299 |
Enel S.p.A. | 3,887,202 | 28,811,941 |
Eni S.p.A. | 2,939,628 | 45,670,382 |
EXOR N.V. | 182,765 | 13,918,102 |
Ferrari N.V. | 9,653 | 2,089,845 |
Intesa Sanpaolo S.p.A. | 7,671,419 | 19,762,038 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Iveco Group N.V. * | 81,007 | 677,399 |
Leonardo S.p.A. * | 397,505 | 3,571,823 |
Mediobanca Banca di Credito Finanziario S.p.A. | 222,858 | 2,334,430 |
Pirelli & C S.p.A. | 275,138 | 1,527,561 |
Poste Italiane S.p.A. | 151,291 | 1,746,032 |
Prysmian S.p.A. | 74,180 | 2,459,577 |
Saras S.p.A. * | 2,625,014 | 1,616,912 |
Snam S.p.A. | 645,151 | 3,597,807 |
Stellantis N.V. | 1,444,051 | 26,551,466 |
Telecom Italia S.p.A. | 18,483,419 | 7,845,425 |
Tenaris S.A. | 248,418 | 3,219,928 |
Terna - Rete Elettrica Nazionale | 344,368 | 2,839,844 |
UniCredit S.p.A. | 1,416,091 | 18,113,230 |
Unipol Gruppo S.p.A. | 358,818 | 1,826,910 |
216,297,589 | ||
Japan 24.6% | ||
Advantest Corp. | 19,104 | 1,504,435 |
Aeon Co., Ltd. | 369,012 | 8,322,194 |
AGC, Inc. | 152,422 | 6,736,080 |
Air Water, Inc. | 133,439 | 1,937,139 |
Aisin Corp. | 224,569 | 8,159,942 |
Ajinomoto Co., Inc. | 173,828 | 5,039,390 |
Alfresa Holdings Corp. | 285,442 | 4,376,736 |
Alps Alpine Co., Ltd. | 334,884 | 3,343,752 |
Amada Co., Ltd. | 212,601 | 1,869,892 |
ANA Holdings, Inc. * | 130,589 | 2,864,624 |
Asahi Group Holdings Ltd. | 170,718 | 6,883,563 |
Asahi Kasei Corp. | 946,160 | 8,851,638 |
Astellas Pharma, Inc. | 667,574 | 11,119,954 |
Bandai Namco Holdings, Inc. | 55,162 | 4,008,734 |
Bic Camera, Inc. | 173,003 | 1,500,586 |
Bridgestone Corp. | 480,337 | 19,705,599 |
Brother Industries Ltd. | 181,420 | 3,285,801 |
Canon, Inc. | 813,528 | 19,060,606 |
Casio Computer Co., Ltd. | 105,623 | 1,233,453 |
Central Japan Railway Co. | 107,334 | 14,435,456 |
Chubu Electric Power Co., Inc. | 936,661 | 9,376,776 |
Chugai Pharmaceutical Co., Ltd. | 56,288 | 1,857,125 |
Coca-Cola Bottlers Japan Holdings, Inc. | 167,708 | 2,137,576 |
COMSYS Holdings Corp. | 67,742 | 1,630,984 |
Concordia Financial Group Ltd. | 495,446 | 2,026,091 |
Cosmo Energy Holdings Co., Ltd. | 141,359 | 3,186,177 |
Dai Nippon Printing Co., Ltd. | 261,745 | 6,788,212 |
Daicel Corp. | 333,374 | 2,555,843 |
Daido Steel Co., Ltd. | 41,451 | 1,493,568 |
Dai-ichi Life Holdings, Inc. | 479,032 | 10,015,273 |
Daiichi Sankyo Co., Ltd. | 261,965 | 6,353,803 |
Daikin Industries Ltd. | 55,144 | 10,152,624 |
Daito Trust Construction Co., Ltd. | 49,090 | 5,421,531 |
Daiwa House Industry Co., Ltd. | 510,329 | 14,484,615 |
Daiwa Securities Group, Inc. | 652,755 | 3,864,106 |
Denka Co., Ltd. | 63,132 | 1,934,933 |
Denso Corp. | 242,513 | 16,943,800 |
Dentsu Group, Inc. | 103,351 | 4,105,325 |
DIC Corp. | 101,302 | 2,303,538 |
East Japan Railway Co. | 282,695 | 16,715,025 |
Ebara Corp. | 46,820 | 2,422,811 |
EDION Corp. | 196,678 | 2,044,051 |
Eisai Co., Ltd. | 64,224 | 3,188,477 |
Electric Power Development Co., Ltd. | 259,603 | 4,113,527 |
ENEOS Holdings, Inc. | 5,318,720 | 20,956,242 |
FANUC Corp. | 37,237 | 6,839,581 |
Fast Retailing Co., Ltd. | 6,288 | 3,375,620 |
Fuji Electric Co., Ltd. | 62,610 | 3,185,540 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
FUJIFILM Holdings Corp. | 146,879 | 9,260,997 |
Fujikura Ltd. * | 384,629 | 2,060,483 |
Fujitsu Ltd. | 83,961 | 12,075,658 |
Furukawa Electric Co., Ltd. | 96,360 | 1,903,356 |
H2O Retailing Corp. | 250,819 | 1,872,840 |
Hakuhodo DY Holdings, Inc. | 143,164 | 1,884,407 |
Hankyu Hanshin Holdings, Inc. | 125,114 | 3,731,423 |
Hanwa Co., Ltd. | 86,855 | 2,514,968 |
Haseko Corp. | 286,609 | 3,648,090 |
Hino Motors Ltd. | 347,014 | 3,244,924 |
Hitachi Construction Machinery Co., Ltd. | 62,600 | 1,523,489 |
Hitachi Ltd. | 574,682 | 28,191,476 |
Hitachi Metals Ltd. * | 113,355 | 2,014,653 |
Hokkaido Electric Power Co., Inc. | 417,241 | 1,825,826 |
Honda Motor Co., Ltd. | 2,032,483 | 62,205,362 |
Hoya Corp. | 39,049 | 5,036,448 |
Idemitsu Kosan Co., Ltd. | 323,325 | 8,646,329 |
IHI Corp. | 145,438 | 3,356,407 |
Iida Group Holdings Co., Ltd. | 117,644 | 2,168,511 |
Inpex Corp. | 1,010,225 | 10,393,893 |
Isetan Mitsukoshi Holdings Ltd. | 556,433 | 4,468,856 |
Isuzu Motors Ltd. | 476,681 | 6,444,040 |
ITOCHU Corp. | 632,162 | 20,544,236 |
J Front Retailing Co., Ltd. | 246,107 | 2,055,610 |
Japan Airlines Co., Ltd. * | 149,560 | 2,982,759 |
Japan Exchange Group, Inc. | 74,962 | 1,405,843 |
Japan Post Holdings Co., Ltd. * | 1,023,707 | 8,480,303 |
Japan Post Insurance Co., Ltd. | 103,947 | 1,781,562 |
Japan Tobacco, Inc. | 702,438 | 12,929,616 |
JFE Holdings, Inc. | 845,446 | 12,625,718 |
JGC Holdings Corp. | 258,085 | 2,581,410 |
JSR Corp. | 63,253 | 1,971,593 |
JTEKT Corp. | 369,571 | 3,179,899 |
Kajima Corp. | 465,267 | 6,237,224 |
Kaneka Corp. | 62,901 | 2,050,734 |
Kao Corp. | 152,782 | 7,136,680 |
Kawasaki Heavy Industries Ltd. | 177,391 | 3,274,437 |
KDDI Corp. | 986,873 | 32,183,156 |
Keio Corp. | 34,543 | 1,409,612 |
Kewpie Corp. | 82,774 | 1,764,360 |
Keyence Corp. | 9,103 | 4,250,569 |
Kikkoman Corp. | 37,611 | 2,788,782 |
Kinden Corp. | 101,060 | 1,430,239 |
Kintetsu Group Holdings Co., Ltd. * | 89,564 | 2,686,726 |
Kirin Holdings Co., Ltd. | 428,597 | 7,098,318 |
Kobe Steel Ltd. | 736,209 | 3,911,959 |
Koito Manufacturing Co., Ltd. | 56,748 | 2,916,850 |
Komatsu Ltd. | 497,509 | 11,414,522 |
Konica Minolta, Inc. | 828,019 | 3,486,774 |
K's Holdings Corp. | 199,207 | 2,144,707 |
Kubota Corp. | 381,576 | 6,831,428 |
Kuraray Co., Ltd. | 379,604 | 3,552,968 |
Kyocera Corp. | 142,917 | 8,163,672 |
Kyushu Electric Power Co., Inc. | 769,879 | 5,802,084 |
Kyushu Railway Co. | 112,890 | 2,489,608 |
Lixil Corp. | 145,017 | 3,217,004 |
Makita Corp. | 71,759 | 2,538,901 |
Marubeni Corp. | 1,428,219 | 14,923,912 |
MatsukiyoCocokara & Co. | 76,826 | 2,941,634 |
Mazda Motor Corp. * | 1,269,872 | 9,437,903 |
Medipal Holdings Corp. | 205,629 | 3,743,903 |
MEIJI Holdings Co., Ltd. | 89,674 | 5,380,051 |
MINEBEA MITSUMI, Inc. | 152,197 | 3,298,317 |
MISUMI Group, Inc. | 55,128 | 1,754,236 |
Mitsubishi Chemical Holdings Corp. | 1,349,332 | 9,576,245 |
Mitsubishi Corp. | 920,063 | 30,923,064 |
Mitsubishi Electric Corp. | 1,460,620 | 17,519,831 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Mitsubishi Estate Co., Ltd. | 414,514 | 6,323,430 |
Mitsubishi Gas Chemical Co., Inc. | 140,642 | 2,487,413 |
Mitsubishi Heavy Industries Ltd. | 381,968 | 11,262,542 |
Mitsubishi Materials Corp. | 214,489 | 3,860,523 |
Mitsubishi Motors Corp. * | 1,157,961 | 3,016,178 |
Mitsubishi UFJ Financial Group, Inc. | 6,086,853 | 37,670,578 |
Mitsui & Co., Ltd. | 890,620 | 22,158,208 |
Mitsui Chemicals, Inc. | 152,619 | 3,893,159 |
Mitsui Fudosan Co., Ltd. | 385,875 | 8,566,810 |
Mitsui Mining & Smelting Co., Ltd. | 54,489 | 1,591,973 |
Mitsui OSK Lines Ltd. | 76,217 | 6,180,740 |
Mizuho Financial Group, Inc. | 1,326,664 | 17,565,987 |
MS&AD Insurance Group Holdings, Inc. | 285,753 | 9,688,435 |
Murata Manufacturing Co., Ltd. | 129,815 | 8,776,813 |
Nagase & Co., Ltd. | 158,519 | 2,526,945 |
Nagoya Railroad Co., Ltd. * | 138,359 | 2,532,327 |
NEC Corp. | 147,583 | 6,349,240 |
NGK Insulators Ltd. | 154,471 | 2,387,310 |
NGK Spark Plug Co., Ltd. | 172,000 | 3,088,309 |
NH Foods Ltd. | 120,196 | 4,508,328 |
NHK Spring Co., Ltd. | 257,657 | 2,044,702 |
Nichirei Corp. | 71,550 | 1,573,572 |
Nidec Corp. | 51,477 | 4,417,167 |
Nikon Corp. | 322,272 | 3,338,142 |
Nintendo Co., Ltd. | 13,350 | 6,725,131 |
Nippon Electric Glass Co., Ltd. | 72,465 | 1,737,776 |
Nippon Express Holdings, Inc. | 66,391 | 4,023,522 |
Nippon Light Metal Holdings Co., Ltd. | 103,291 | 1,651,939 |
Nippon Paper Industries Co., Ltd. | 208,097 | 1,983,855 |
Nippon Shokubai Co., Ltd. | 32,843 | 1,596,881 |
Nippon Steel Corp. | 990,633 | 18,135,443 |
Nippon Steel Trading Corp. | 42,090 | 1,988,015 |
Nippon Telegraph & Telephone Corp. | 986,975 | 28,218,873 |
Nippon Yusen K.K. | 94,612 | 8,765,010 |
Nissan Motor Co., Ltd. * | 3,616,298 | 17,121,487 |
Nisshin Seifun Group, Inc. | 166,184 | 2,351,899 |
Nissin Foods Holdings Co., Ltd. | 21,603 | 1,719,987 |
Nitori Holdings Co., Ltd. | 15,409 | 2,307,169 |
Nitto Denko Corp. | 72,624 | 5,265,122 |
NOK Corp. | 184,612 | 1,923,459 |
Nomura Holdings, Inc. | 1,257,191 | 5,744,820 |
Nomura Real Estate Holdings, Inc. | 71,740 | 1,784,546 |
NSK Ltd. | 505,400 | 3,264,750 |
NTN Corp. * | 691,472 | 1,302,795 |
NTT Data Corp. | 228,278 | 4,306,908 |
Obayashi Corp. | 748,664 | 6,246,721 |
Odakyu Electric Railway Co., Ltd. | 86,100 | 1,415,875 |
Oji Holdings Corp. | 873,603 | 4,452,398 |
Olympus Corp. | 165,607 | 3,306,388 |
Omron Corp. | 53,208 | 3,584,928 |
Ono Pharmaceutical Co., Ltd. | 94,719 | 2,324,491 |
Oriental Land Co., Ltd. | 16,464 | 3,020,485 |
ORIX Corp. | 542,581 | 10,755,046 |
Osaka Gas Co., Ltd. | 353,938 | 6,481,053 |
Otsuka Corp. | 36,311 | 1,398,214 |
Otsuka Holdings Co., Ltd. | 172,155 | 5,923,597 |
PALTAC Corp. | 34,093 | 1,317,246 |
Pan Pacific International Holdings Corp. | 101,829 | 1,662,153 |
Panasonic Corp. | 1,811,375 | 18,715,314 |
Persol Holdings Co., Ltd. | 82,780 | 1,835,642 |
Rakuten Group, Inc. | 161,584 | 1,366,467 |
Recruit Holdings Co., Ltd. | 172,547 | 7,219,483 |
Renesas Electronics Corp. * | 160,509 | 1,867,437 |
Resona Holdings, Inc. | 1,124,718 | 5,056,470 |
Ricoh Co., Ltd. | 619,063 | 5,262,103 |
Rohm Co., Ltd. | 31,240 | 2,449,292 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Ryohin Keikaku Co., Ltd. | 103,393 | 1,516,221 |
Sankyu, Inc. | 42,079 | 1,455,913 |
Santen Pharmaceutical Co., Ltd. | 129,518 | 1,466,390 |
SBI Holdings, Inc. | 74,647 | 1,944,354 |
Secom Co., Ltd. | 72,445 | 5,297,433 |
Seibu Holdings, Inc. * | 144,637 | 1,505,707 |
Seiko Epson Corp. | 208,104 | 3,185,477 |
Seino Holdings Co., Ltd. | 157,137 | 1,639,928 |
Sekisui Chemical Co., Ltd. | 262,041 | 4,279,567 |
Sekisui House Ltd. | 424,106 | 8,638,617 |
Seven & i Holdings Co., Ltd. | 484,982 | 23,542,734 |
SG Holdings Co., Ltd. | 118,186 | 2,495,579 |
Shikoku Electric Power Co., Inc. | 247,266 | 1,906,422 |
Shimadzu Corp. | 51,055 | 1,819,672 |
Shimamura Co., Ltd. | 22,762 | 2,053,373 |
Shimano, Inc. | 11,061 | 2,552,649 |
Shimizu Corp. | 602,256 | 3,979,308 |
Shin-Etsu Chemical Co., Ltd. | 81,984 | 12,577,880 |
Shionogi & Co., Ltd. | 69,385 | 4,603,176 |
Shiseido Co., Ltd. | 63,912 | 3,643,553 |
Showa Denko K.K. | 162,554 | 2,970,924 |
SMC Corp. | 8,345 | 4,930,560 |
Softbank Corp. | 1,425,874 | 17,957,284 |
SoftBank Group Corp. | 451,142 | 20,074,693 |
Sojitz Corp. | 295,555 | 4,875,663 |
Sompo Holdings, Inc. | 171,304 | 7,466,430 |
Sony Group Corp. | 221,529 | 22,715,498 |
Stanley Electric Co., Ltd. | 90,598 | 2,145,090 |
Subaru Corp. | 804,309 | 13,223,001 |
SUMCO Corp. | 77,123 | 1,263,565 |
Sumitomo Chemical Co., Ltd. | 1,466,286 | 7,002,017 |
Sumitomo Corp. | 980,310 | 15,950,518 |
Sumitomo Electric Industries Ltd. | 952,589 | 12,592,288 |
Sumitomo Forestry Co., Ltd. | 122,214 | 2,347,188 |
Sumitomo Heavy Industries Ltd. | 126,738 | 3,064,600 |
Sumitomo Metal Mining Co., Ltd. | 101,928 | 5,085,116 |
Sumitomo Mitsui Financial Group, Inc. | 711,258 | 25,449,049 |
Sumitomo Mitsui Trust Holdings, Inc. | 172,047 | 6,139,467 |
Sumitomo Realty & Development Co., Ltd. | 131,809 | 3,875,019 |
Sumitomo Rubber Industries Ltd. | 246,348 | 2,376,320 |
Suntory Beverage & Food Ltd. | 72,222 | 2,884,491 |
Suzuken Co., Ltd. | 121,944 | 3,928,042 |
Suzuki Motor Corp. | 331,927 | 13,179,094 |
Sysmex Corp. | 21,289 | 1,686,484 |
T&D Holdings, Inc. | 245,529 | 3,589,936 |
Taiheiyo Cement Corp. | 157,158 | 3,011,484 |
Taisei Corp. | 181,949 | 6,026,789 |
Taiyo Yuden Co., Ltd. | 33,150 | 1,467,897 |
Takashimaya Co., Ltd. | 221,012 | 2,154,951 |
Takeda Pharmaceutical Co., Ltd. | 492,221 | 14,962,151 |
TDK Corp. | 155,116 | 6,195,212 |
Teijin Ltd. | 241,927 | 2,905,014 |
Terumo Corp. | 97,403 | 3,136,685 |
The Chugoku Electric Power Co., Inc. | 324,138 | 2,538,506 |
The Kansai Electric Power Co., Inc. | 1,041,807 | 10,510,786 |
The Yokohama Rubber Co., Ltd. | 103,389 | 1,442,554 |
TIS, Inc. | 81,955 | 1,921,237 |
Tobu Railway Co., Ltd. | 108,417 | 2,659,240 |
Toho Gas Co., Ltd. | 48,827 | 1,303,608 |
Toho Holdings Co., Ltd. | 113,613 | 1,866,341 |
Tohoku Electric Power Co., Inc. | 938,033 | 6,083,878 |
Tokio Marine Holdings, Inc. | 282,261 | 16,110,995 |
Tokyo Electric Power Co. Holdings, Inc. * | 5,721,586 | 17,983,192 |
Tokyo Electron Ltd. | 20,783 | 10,063,537 |
Tokyo Gas Co., Ltd. | 460,438 | 9,386,659 |
Tokyu Corp. | 276,455 | 3,677,266 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Tokyu Fudosan Holdings Corp. | 459,226 | 2,547,822 |
Toppan, Inc. | 322,465 | 6,319,110 |
Toray Industries, Inc. | 1,357,778 | 7,777,088 |
Toshiba Corp. | 222,935 | 8,859,331 |
Tosoh Corp. | 261,152 | 4,054,176 |
TOTO Ltd. | 50,492 | 2,119,634 |
Toyo Seikan Group Holdings Ltd. | 242,437 | 3,226,880 |
Toyo Suisan Kaisha Ltd. | 48,240 | 2,027,190 |
Toyoda Gosei Co., Ltd. | 85,280 | 1,614,156 |
Toyota Industries Corp. | 64,857 | 4,921,643 |
Toyota Motor Corp. | 6,732,739 | 125,009,441 |
Toyota Tsusho Corp. | 199,321 | 8,246,274 |
TS Tech Co., Ltd. | 144,721 | 1,942,597 |
Tsuruha Holdings, Inc. | 18,050 | 1,440,239 |
Ube Industries Ltd. | 149,950 | 2,765,303 |
Unicharm Corp. | 63,285 | 2,373,703 |
West Japan Railway Co. | 155,274 | 6,676,074 |
Yakult Honsha Co., Ltd. | 36,752 | 1,987,974 |
Yamada Holdings Co., Ltd. | 1,017,606 | 3,525,286 |
Yamaha Corp. | 46,102 | 2,145,489 |
Yamaha Motor Co., Ltd. | 233,087 | 5,213,216 |
Yamato Holdings Co., Ltd. | 216,954 | 4,234,535 |
Yamazaki Baking Co., Ltd. | 137,911 | 1,864,358 |
Yaskawa Electric Corp. | 48,464 | 1,922,991 |
Yokogawa Electric Corp. | 120,212 | 1,925,688 |
Z Holdings Corp. | 570,414 | 2,761,561 |
1,814,178,795 | ||
Netherlands 2.4% | ||
Aalberts N.V. | 30,337 | 1,693,845 |
ABN AMRO Bank N.V. | 401,477 | 5,349,040 |
Aegon N.V. | 1,375,361 | 6,820,319 |
Akzo Nobel N.V. | 89,039 | 8,500,735 |
APERAM S.A. | 35,081 | 1,963,845 |
ArcelorMittal S.A. | 625,815 | 19,474,280 |
ASML Holding N.V. | 15,922 | 10,710,487 |
ASR Nederland N.V. | 83,142 | 3,598,129 |
Heineken Holding N.V. | 51,570 | 4,213,931 |
Heineken N.V. | 65,386 | 6,637,651 |
ING Groep N.V. | 1,935,248 | 22,819,204 |
Koninklijke Ahold Delhaize N.V. | 890,293 | 27,479,383 |
Koninklijke DSM N.V. | 36,520 | 6,862,526 |
Koninklijke KPN N.V. | 1,635,508 | 5,602,860 |
Koninklijke Philips N.V. | 271,327 | 9,246,255 |
NN Group N.V. | 175,870 | 8,450,645 |
Randstad N.V. | 84,147 | 5,736,997 |
Signify N.V. | 82,958 | 4,247,075 |
Unibail-Rodamco-Westfield * | 81,019 | 6,177,119 |
Universal Music Group NV | 197,161 | 4,502,106 |
Wolters Kluwer N.V. | 40,709 | 4,152,687 |
174,239,119 | ||
New Zealand 0.1% | ||
Contact Energy Ltd. | 323,034 | 1,775,139 |
Fletcher Building Ltd. | 623,221 | 2,830,041 |
Spark New Zealand Ltd. | 789,284 | 2,406,336 |
7,011,516 | ||
Norway 0.8% | ||
DNB Bank A.S.A. | 328,674 | 7,366,867 |
Equinor A.S.A. | 751,432 | 23,794,015 |
Mowi A.S.A. | 147,356 | 3,793,806 |
Norsk Hydro A.S.A. | 845,600 | 8,035,154 |
Orkla A.S.A. | 301,451 | 2,829,515 |
Subsea 7 S.A. | 309,637 | 2,116,207 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Telenor A.S.A. | 389,483 | 5,777,812 |
Yara International A.S.A. | 100,594 | 5,124,847 |
58,838,223 | ||
Poland 0.3% | ||
Bank Polska Kasa Opieki S.A. | 78,402 | 2,166,433 |
Grupa Lotos S.A. * | 147,742 | 1,915,508 |
KGHM Polska Miedz S.A. | 49,200 | 1,946,361 |
PGE Polska Grupa Energetyczna S.A. * | 806,856 | 1,573,403 |
Polski Koncern Naftowy Orlen S.A. | 538,574 | 9,148,098 |
Polskie Gornictwo Naftowe i Gazownictwo S.A. | 1,406,053 | 1,871,376 |
Powszechna Kasa Oszczednosci Bank Polski S.A. * | 260,229 | 2,508,673 |
Powszechny Zaklad Ubezpieczen S.A. | 325,057 | 2,450,651 |
23,580,503 | ||
Portugal 0.2% | ||
EDP - Energias de Portugal S.A. | 1,447,303 | 7,094,168 |
Galp Energia, SGPS, S.A. | 499,005 | 5,525,238 |
Jeronimo Martins, SGPS, S.A. | 109,253 | 2,383,701 |
15,003,107 | ||
Republic of Korea 5.2% | ||
Amorepacific Corp. | 10,089 | 1,543,956 |
BNK Financial Group, Inc. | 305,991 | 2,005,414 |
CJ CheilJedang Corp. | 6,538 | 2,058,164 |
CJ Corp. | 31,176 | 2,180,648 |
Coway Co., Ltd. | 27,302 | 1,637,189 |
DB Insurance Co., Ltd. | 56,680 | 2,913,315 |
E-MART, Inc. | 27,764 | 3,001,888 |
GS Engineering & Construction Corp. | 57,696 | 2,056,201 |
GS Holdings Corp. | 105,839 | 3,521,071 |
Hana Financial Group, Inc. | 189,192 | 7,663,035 |
Hankook Tire & Technology Co., Ltd. | 73,832 | 2,161,506 |
Hanwha Corp. | 97,076 | 2,450,415 |
Hanwha Solutions Corp. * | 50,417 | 1,419,400 |
Hyundai Engineering & Construction Co., Ltd. | 83,706 | 3,014,488 |
Hyundai Glovis Co., Ltd. | 18,699 | 2,737,160 |
Hyundai Heavy Industries Holdings Co., Ltd. | 91,420 | 3,908,170 |
Hyundai Marine & Fire Insurance Co., Ltd. | 102,196 | 2,447,910 |
Hyundai Mobis Co., Ltd. | 56,947 | 10,609,330 |
Hyundai Motor Co. | 103,443 | 15,055,953 |
Hyundai Steel Co. | 132,035 | 4,359,620 |
Industrial Bank of Korea | 232,645 | 2,080,038 |
KB Financial Group, Inc. | 200,424 | 9,951,606 |
Kia Corp. | 197,282 | 12,109,129 |
Korea Electric Power Corp. | 677,340 | 13,069,645 |
Korea Gas Corp. | 61,787 | 2,109,499 |
Korea Shipbuilding & Offshore Engineering Co., Ltd. * | 33,202 | 2,435,577 |
Korea Zinc Co., Ltd. | 6,316 | 2,889,175 |
Korean Air Lines Co., Ltd. * | 86,417 | 2,105,891 |
KT&G Corp. | 64,694 | 4,293,742 |
LG Chem Ltd. | 11,238 | 5,280,883 |
LG Corp. | 29,477 | 1,843,615 |
LG Display Co., Ltd. | 378,732 | 5,890,372 |
LG Electronics, Inc. | 80,554 | 8,274,146 |
LG Household & Health Care Ltd. | 2,138 | 1,689,275 |
LG Uplus Corp. | 278,531 | 3,046,270 |
Lotte Chemical Corp. | 18,407 | 3,368,021 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Lotte Shopping Co., Ltd. | 28,163 | 1,998,007 |
LX Holdings Corp. * | 25,752 | 209,040 |
NAVER Corp. | 7,218 | 1,909,032 |
POSCO | 92,153 | 21,843,561 |
Posco International Corp. | 99,631 | 1,711,133 |
Samsung C&T Corp. | 42,196 | 3,860,407 |
Samsung Electro-Mechanics Co., Ltd. | 20,348 | 2,809,305 |
Samsung Electronics Co., Ltd. | 2,035,799 | 122,078,520 |
Samsung Fire & Marine Insurance Co., Ltd. | 28,224 | 4,471,803 |
Samsung Life Insurance Co., Ltd. | 41,754 | 2,076,674 |
Samsung SDI Co., Ltd. | 4,953 | 2,257,449 |
Samsung SDS Co., Ltd. | 16,536 | 1,925,429 |
Shinhan Financial Group Co., Ltd. | 319,894 | 10,389,538 |
SK Hynix, Inc. | 226,626 | 23,278,006 |
SK Innovation Co., Ltd. * | 51,188 | 8,535,945 |
SK Square Co., Ltd. * | 34,715 | 1,611,092 |
SK Telecom Co., Ltd. | 54,282 | 2,465,004 |
SK, Inc. | 40,603 | 7,682,607 |
S-Oil Corp. | 33,491 | 2,353,715 |
Woori Financial Group, Inc. | 433,709 | 5,158,264 |
385,806,248 | ||
Singapore 0.8% | ||
Capitaland Investment Ltd. * | 1,624,992 | 4,417,268 |
ComfortDelGro Corp., Ltd. | 1,932,483 | 2,007,294 |
DBS Group Holdings Ltd. | 490,771 | 12,227,246 |
Jardine Cycle & Carriage Ltd. | 109,993 | 1,769,676 |
Keppel Corp., Ltd. | 783,846 | 3,458,866 |
Oversea-Chinese Banking Corp., Ltd. | 1,077,786 | 9,265,728 |
Singapore Airlines Ltd. * | 739,084 | 2,771,327 |
Singapore Telecommunications Ltd. | 4,354,309 | 8,083,435 |
United Overseas Bank Ltd. | 413,199 | 9,104,410 |
Venture Corp., Ltd. | 124,422 | 1,606,776 |
Wilmar International Ltd. | 1,424,790 | 4,597,282 |
59,309,308 | ||
Spain 3.1% | ||
Acciona S.A. | 9,865 | 1,696,405 |
ACS, Actividades de Construccion y Servicios S.A. | 216,317 | 5,301,548 |
Aena SME S.A. * | 20,378 | 3,348,599 |
Amadeus IT Group S.A. * | 82,723 | 5,569,296 |
Banco Bilbao Vizcaya Argentaria S.A. | 4,707,155 | 27,968,647 |
Banco de Sabadell S.A. * | 8,839,864 | 7,692,942 |
Banco Santander S.A. | 15,516,841 | 52,015,428 |
Bankinter S.A. | 247,393 | 1,416,035 |
CaixaBank S.A. | 2,150,113 | 7,100,124 |
Enagas S.A. | 94,601 | 2,010,893 |
Endesa S.A. | 170,355 | 3,762,757 |
Ferrovial S.A. | 103,079 | 2,827,308 |
Grifols S.A. | 90,007 | 1,720,147 |
Iberdrola S.A. | 2,277,836 | 26,045,189 |
Industria de Diseno Textil S.A. | 261,960 | 6,943,913 |
Linea Directa Aseguradora S.A. Cia de Seguros y Reaseguros | 260,442 | 438,500 |
Mapfre S.A. | 908,040 | 1,796,573 |
Naturgy Energy Group S.A. | 185,736 | 5,013,109 |
Red Electrica Corp. S.A. | 149,445 | 2,992,046 |
Repsol S.A. | 1,748,265 | 22,829,419 |
Telefonica S.A. | 7,560,336 | 36,310,822 |
224,799,700 | ||
SECURITY | NUMBER OF SHARES | VALUE ($) |
Sweden 1.7% | ||
Alfa Laval AB | 60,608 | 1,990,685 |
Assa Abloy AB, B Shares | 176,021 | 4,692,302 |
Atlas Copco AB, A Shares | 93,248 | 4,884,598 |
Atlas Copco AB, B Shares | 55,042 | 2,523,434 |
Boliden AB | 131,114 | 5,883,196 |
Electrolux AB, B Shares | 105,035 | 1,900,227 |
Epiroc AB, A Shares | 70,772 | 1,342,600 |
Epiroc AB, B Shares | 48,362 | 789,619 |
Essity AB, B Shares | 186,398 | 4,832,658 |
H & M Hennes & Mauritz AB, B Shares | 450,508 | 7,659,142 |
Hexagon AB, B Shares | 203,118 | 2,770,808 |
Husqvarna AB, B Shares | 136,024 | 1,649,461 |
Industrivarden AB, A Shares | 39,376 | 1,098,066 |
Industrivarden AB, C Shares | 30,511 | 836,950 |
Investor AB, A Shares | 111,130 | 2,485,595 |
Investor AB, B Shares | 364,582 | 7,497,761 |
Lundin Energy AB | 59,898 | 2,219,314 |
Sandvik AB | 260,348 | 5,707,232 |
Securitas AB, B Shares | 214,154 | 2,608,231 |
Skandinaviska Enskilda Banken AB, A Shares | 397,557 | 4,620,797 |
Skanska AB, B Shares | 173,416 | 3,959,563 |
SKF AB, B Shares | 171,762 | 3,199,313 |
SSAB AB, A Shares * | 170,540 | 1,083,425 |
SSAB AB, B Shares * | 587,501 | 3,225,647 |
Svenska Cellulosa AB SCA, B Shares | 119,116 | 1,962,507 |
Svenska Handelsbanken AB, A Shares | 516,269 | 4,966,755 |
Swedbank AB, A Shares | 436,322 | 7,097,132 |
Swedish Match AB | 275,104 | 2,021,117 |
Tele2 AB, B Shares | 174,537 | 2,325,446 |
Telefonaktiebolaget LM Ericsson, B Shares | 678,917 | 6,322,901 |
Telia Co. AB | 1,714,115 | 6,413,720 |
Trelleborg AB, B Shares | 87,078 | 1,771,416 |
Volvo AB, A Shares | 87,987 | 1,731,176 |
Volvo AB, B Shares | 553,124 | 10,770,394 |
124,843,188 | ||
Switzerland 5.0% | ||
ABB Ltd. | 402,654 | 13,671,232 |
Adecco Group AG | 149,045 | 7,073,322 |
Alcon, Inc. | 71,650 | 5,551,128 |
Baloise Holding AG | 14,429 | 2,423,575 |
Barry Callebaut AG | 705 | 1,629,081 |
Chocoladefabriken Lindt & Spruengli AG | 15 | 1,692,190 |
Chocoladefabriken Lindt & Spruengli AG, Participation Certificate | 139 | 1,480,980 |
Cie Financiere Richemont S.A. | 100,469 | 13,699,572 |
Clariant AG * | 84,938 | 1,535,448 |
Credit Suisse Group AG | 678,307 | 5,734,317 |
DKSH Holding AG | 23,563 | 2,017,411 |
Dufry AG * | 39,517 | 1,865,476 |
Geberit AG | 5,184 | 3,398,177 |
Georg Fischer AG | 1,353 | 1,673,830 |
Givaudan S.A. | 1,025 | 4,302,442 |
Holcim Ltd. * | 279,663 | 14,049,450 |
Julius Baer Group Ltd. | 37,611 | 2,205,539 |
Kuehne & Nagel International AG | 9,935 | 2,722,392 |
Lonza Group AG | 5,191 | 3,606,456 |
Nestle S.A. | 632,587 | 82,588,992 |
Novartis AG | 475,432 | 41,633,012 |
Partners Group Holding AG | 1,447 | 1,965,977 |
Roche Holding AG | 148,127 | 56,485,074 |
Roche Holding AG, Bearer Shares | 5,486 | 2,298,565 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Schindler Holding AG | 3,988 | 899,794 |
Schindler Holding AG, Participation Certificate | 8,267 | 1,905,794 |
SGS S.A. | 1,181 | 3,391,940 |
Sika AG | 11,259 | 3,755,250 |
Sonova Holding AG | 5,728 | 2,228,891 |
Swiss Life Holding AG | 11,458 | 6,998,815 |
Swiss Prime Site AG | 19,450 | 1,911,186 |
Swiss Re AG | 132,116 | 12,646,386 |
Swisscom AG | 11,553 | 6,933,437 |
The Swatch Group AG | 22,480 | 1,342,748 |
The Swatch Group AG, Bearer Shares | 15,336 | 4,765,702 |
UBS Group AG | 1,108,854 | 20,407,651 |
Zurich Insurance Group AG | 50,316 | 23,121,942 |
365,613,174 | ||
United Kingdom 17.7% | ||
3i Group plc | 190,137 | 3,407,080 |
abrdn plc | 1,761,663 | 4,885,793 |
Admiral Group plc | 40,427 | 1,614,813 |
Anglo American plc | 410,939 | 21,079,167 |
Antofagasta plc | 89,514 | 1,826,804 |
Ashtead Group plc | 76,158 | 4,982,543 |
Associated British Foods plc | 202,177 | 5,208,405 |
AstraZeneca plc | 255,499 | 31,055,695 |
Aviva plc | 1,899,669 | 10,700,207 |
BAE Systems plc | 1,431,373 | 13,820,246 |
Balfour Beatty plc | 494,440 | 1,590,870 |
Barclays plc | 7,566,833 | 18,567,445 |
Barratt Developments plc | 593,762 | 4,867,718 |
Bellway plc | 77,644 | 3,004,519 |
Berkeley Group Holdings plc | 53,886 | 2,816,869 |
BP plc | 25,023,739 | 122,064,153 |
British American Tobacco plc | 1,084,396 | 47,454,465 |
BT Group plc | 9,669,433 | 24,164,014 |
Bunzl plc | 119,286 | 4,751,946 |
Burberry Group plc | 126,755 | 3,299,428 |
Carnival plc * | 106,181 | 2,007,095 |
Centrica plc * | 11,665,835 | 12,096,361 |
Coca-Cola HBC AG * | 66,295 | 1,693,634 |
Compass Group plc | 600,392 | 13,646,463 |
CRH plc | 317,534 | 14,426,101 |
Croda International plc | 17,651 | 1,772,454 |
Currys plc | 2,002,053 | 2,522,394 |
DCC plc | 61,135 | 4,806,836 |
Diageo plc | 378,608 | 18,922,907 |
Direct Line Insurance Group plc | 1,010,581 | 4,014,961 |
Drax Group plc | 302,612 | 2,866,571 |
DS Smith plc | 602,370 | 2,785,162 |
easyJet plc * | 237,748 | 1,922,285 |
Evraz plc | 332,033 | 644,869 |
Experian plc | 118,044 | 4,645,450 |
Ferguson plc | 72,108 | 11,044,121 |
Firstgroup plc * | 1,804,164 | 2,425,580 |
GlaxoSmithKline plc | 1,888,223 | 39,153,085 |
Glencore plc * | 11,355,899 | 67,369,441 |
Hays plc | 1,167,869 | 2,126,404 |
HSBC Holdings plc | 10,637,671 | 73,449,379 |
Imperial Brands plc | 762,314 | 16,764,270 |
Inchcape plc | 309,134 | 3,098,412 |
Informa plc * | 375,251 | 2,992,764 |
InterContinental Hotels Group plc * | 36,827 | 2,587,246 |
International Consolidated Airlines Group S.A. * | 1,260,429 | 2,512,419 |
Intertek Group plc | 28,861 | 2,084,914 |
ITV plc * | 2,282,192 | 3,388,249 |
J Sainsbury plc | 1,959,244 | 7,247,648 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
John Wood Group plc * | 781,303 | 1,891,158 |
Johnson Matthey plc | 157,624 | 3,982,396 |
Kingfisher plc | 1,763,894 | 7,246,853 |
Land Securities Group plc | 218,129 | 2,324,423 |
Legal & General Group plc | 2,231,054 | 8,298,032 |
Lloyds Banking Group plc | 41,515,746 | 26,980,124 |
London Stock Exchange Group plc | 18,089 | 1,595,571 |
M&G plc | 4,094,247 | 11,305,537 |
Marks & Spencer Group plc * | 2,553,136 | 5,988,074 |
Meggitt plc * | 308,753 | 3,127,735 |
Melrose Industries plc | 975,571 | 1,940,552 |
Micro Focus International plc | 426,052 | 2,200,874 |
Mondi plc | 254,841 | 5,373,478 |
National Grid plc | 1,688,793 | 25,623,238 |
Natwest Group plc | 1,038,730 | 3,201,367 |
Next plc | 30,931 | 2,847,846 |
Pearson plc | 372,493 | 3,238,657 |
Pennon Group plc | 103,705 | 1,447,121 |
Persimmon plc | 164,237 | 5,317,410 |
Polymetal International plc | 85,317 | 402,033 |
Prudential plc | 534,178 | 8,145,678 |
Reckitt Benckiser Group plc | 140,957 | 11,954,853 |
RELX plc | 320,469 | 9,808,060 |
Rentokil Initial plc | 249,962 | 1,703,093 |
Rio Tinto plc | 491,584 | 38,196,458 |
Rolls-Royce Holdings plc * | 2,180,539 | 3,028,140 |
Royal Mail plc | 904,901 | 4,767,973 |
Severn Trent plc | 82,203 | 3,172,111 |
Shell plc | 10,101,007 | 267,265,791 |
Smith & Nephew plc | 241,173 | 4,326,452 |
Smiths Group plc | 150,931 | 3,096,405 |
Smurfit Kappa Group plc | 91,563 | 4,552,995 |
SSE plc | 561,691 | 12,845,951 |
Standard Chartered plc | 1,214,296 | 8,680,816 |
Tate & Lyle plc | 252,830 | 2,555,116 |
Taylor Wimpey plc | 2,256,677 | 4,549,416 |
Tesco plc | 6,250,531 | 24,300,329 |
The Sage Group plc | 231,930 | 2,187,059 |
Travis Perkins plc | 144,486 | 2,833,325 |
TUI AG *(a) | 1,234,484 | 3,988,538 |
Unilever plc | 689,545 | 34,662,521 |
United Utilities Group plc | 240,145 | 3,462,197 |
Vodafone Group plc | 29,504,805 | 52,034,584 |
Whitbread plc * | 77,585 | 3,043,876 |
Wickes Group plc | 171,009 | 414,389 |
WPP plc | 776,202 | 11,013,540 |
1,307,101,800 | ||
Total Common Stocks (Cost $6,294,028,200) | 7,275,635,439 | |
PREFERRED STOCKS 0.9% OF NET ASSETS | ||
Germany 0.6% | ||
Bayerische Motoren Werke AG | 51,282 | 4,199,038 |
Fuchs Petrolub SE | 37,921 | 1,512,048 |
Henkel AG & Co. KGaA | 71,781 | 5,711,436 |
Volkswagen AG | 152,918 | 30,579,718 |
42,002,240 | ||
Italy 0.0% | ||
Telecom Italia S.p.A. - RSP | 11,302,717 | 4,731,507 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Republic of Korea 0.3% | ||
Amorepacific Corp. | 1,593 | 101,620 |
Hyundai Motor Co., Ltd. | 20,324 | 1,479,062 |
Hyundai Motor Co., Ltd. 2nd | 24,928 | 1,828,627 |
LG Chem Ltd. | 2,559 | 575,714 |
LG Electronics, Inc. | 14,270 | 707,358 |
LG Household & Health Care Ltd. | 215 | 93,879 |
Samsung Electronics Co., Ltd. | 345,327 | 18,984,584 |
23,770,844 | ||
Total Preferred Stocks (Cost $61,278,573) | 70,504,591 |
SHORT-TERM INVESTMENTS 0.2% OF NET ASSETS | ||
Money Market Funds 0.2% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (c) | 7,526,114 | 7,526,114 |
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (c)(d) | 5,468,050 | 5,468,050 |
12,994,164 | ||
Total Short-Term Investments (Cost $12,994,164) | 12,994,164 | |
Total Investments in Securities (Cost $6,368,300,937) | 7,359,134,194 |
NUMBER OF CONTRACTS | NOTIONAL AMOUNT ($) | CURRENT VALUE/ UNREALIZED DEPRECIATION ($) | |
FUTURES CONTRACTS | |||
Long | |||
MSCI EAFE Index, expires 03/18/22 | 316 | 34,124,840 | (1,157,931) |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $4,643,277. |
(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. |
(d) | Security purchased with cash collateral received for securities on loan. |
REIT — | Real Estate Investment Trust |
RSP — | Risparmio (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 Stocks1 | $7,149,146,281 | $— | $— | $7,149,146,281 |
Hong Kong | 125,891,676 | — | 597,482 | 126,489,158 |
Preferred Stocks1 | 70,504,591 | — | — | 70,504,591 |
Short-Term Investments1 | 12,994,164 | — | — | 12,994,164 |
Liabilities | ||||
Futures Contracts2 | (1,157,931) | — | — | (1,157,931) |
Total | $7,357,378,781 | $— | $597,482 | $7,357,976,263 |
1 | As categorized in the Portfolio Holdings. |
2 | Futures contracts are reported at cumulative unrealized appreciation or depreciation. |
Assets | ||
Investments in securities, at value - unaffiliated (cost $6,368,300,937) including securities on loan of $4,643,277 | $7,359,134,194 | |
Foreign currency, at value (cost $2,516,889) | 2,517,663 | |
Deposit with broker for futures contracts | 1,497,837 | |
Receivables: | ||
Dividends | 21,934,685 | |
Foreign tax reclaims | 4,105,651 | |
Income from securities on loan | + | 62,130 |
Total assets | 7,389,252,160 | |
Liabilities | ||
Collateral held for securities on loan | 5,468,050 | |
Payables: | ||
Management fees | 1,425,520 | |
Variation margin on futures contracts | 660,453 | |
Investments bought | + | 117,799 |
Total liabilities | 7,671,822 | |
Net assets | $7,381,580,338 | |
Net Assets by Source | ||
Capital received from investors | $6,694,507,083 | |
Total distributable earnings | + | 687,073,255 |
Net assets | $7,381,580,338 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$7,381,580,338 | 228,900,000 | $32.25 | ||
For the period March 1, 2021 through February 28, 2022 | ||
Investment Income | ||
Dividends received from securities - unaffiliated (net of foreign withholding tax of $21,748,786) | $231,546,971 | |
Securities on loan, net | + | 1,840,687 |
Total investment income | 233,387,658 | |
Expenses | ||
Management fees | 17,121,985 | |
Professional fees | + | 21,692* |
Total expenses | 17,143,677 | |
Expense reduction by investment adviser | – | 21,692* |
Net expenses | – | 17,121,985 |
Net investment income | 216,265,673 | |
REALIZED AND UNREALIZED GAINS (LOSSES) | ||
Net realized losses on sales of securities - unaffiliated | (69,975,919) | |
Net realized gains on sales of in-kind redemptions - unaffiliated | 40,180,305 | |
Net realized gains on futures contracts | 1,633,984 | |
Net realized losses on foreign currency transactions | + | (1,224,840) |
Net realized losses | (29,386,470) | |
Net change in unrealized appreciation (depreciation) on securities - unaffiliated | 258,251,589 | |
Net change in unrealized appreciation (depreciation) on futures contracts | (800,058) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | 73,321 |
Net change in unrealized appreciation (depreciation) | + | 257,524,852 |
Net realized and unrealized gains | 228,138,382 | |
Increase in net assets resulting from operations | $444,404,055 |
* | 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 | |||
3/1/21-2/28/22 | 3/1/20-2/28/21 | ||
Net investment income | $216,265,673 | $123,117,127 | |
Net realized gains (losses) | (29,386,470) | 57,292,597 | |
Net change in unrealized appreciation (depreciation) | + | 257,524,852 | 979,453,687 |
Increase in net assets resulting from operations | $444,404,055 | $1,159,863,411 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Total distributions | ($245,365,750) | ($114,361,960) |
TRANSACTIONS IN FUND SHARES | |||||
3/1/21-2/28/22 | 3/1/20-2/28/21 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 46,300,000 | $1,538,419,912 | 40,300,000 | $981,805,769 | |
Shares redeemed | + | (2,300,000) | (76,930,745) | (30,400,000) | (722,949,976) |
Net transactions in fund shares | 44,000,000 | $1,461,489,167 | 9,900,000 | $258,855,793 | |
SHARES OUTSTANDING AND NET ASSETS | |||||
3/1/21-2/28/22 | 3/1/20-2/28/21 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 184,900,000 | $5,721,052,866 | 175,000,000 | $4,416,695,622 | |
Total increase | + | 44,000,000 | 1,660,527,472 | 9,900,000 | 1,304,357,244 |
End of period | 228,900,000 | $7,381,580,338 | 184,900,000 | $5,721,052,866 |
3/1/21– 2/28/22 | 3/1/20– 2/28/21 | 3/1/19– 2/29/20 | 3/1/18– 2/28/19 | 3/1/17– 2/28/18 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $36.11 | $28.53 | $31.23 | $36.02 | $29.99 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.73 | 0.53 | 0.80 | 0.79 | 0.62 | |
Net realized and unrealized gains (losses) | (0.01) | 7.66 | (2.60) | (4.82) | 6.11 | |
Total from investment operations | 0.72 | 8.19 | (1.80) | (4.03) | 6.73 | |
Less distributions: | ||||||
Distributions from net investment income | (0.97) | (0.61) | (0.90) | (0.76) | (0.70) | |
Net asset value at end of period | $35.86 | $36.11 | $28.53 | $31.23 | $36.02 | |
Total return | 1.86% | 28.97% | (6.06%) | (11.06%) | 22.47% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.39% | 0.39% | 0.39% | 0.39% | 0.39% | |
Net investment income (loss) | 1.90% | 1.78% | 2.54% | 2.38% | 1.83% | |
Portfolio turnover rate2 | 28% | 24% | 31% | 25% | 18% | |
Net assets, end of period (x 1,000) | $2,685,954 | $2,292,915 | $1,900,303 | $1,842,568 | $1,811,898 |
1 | Calculated based on the average shares outstanding during the period. |
2 | Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions. |
SECURITY | NUMBER OF SHARES | VALUE ($) |
COMMON STOCKS 99.1% OF NET ASSETS | ||
Australia 5.2% | ||
Adbri Ltd. | 819,768 | 1,963,053 |
ALS Ltd. | 205,327 | 1,762,617 |
Ansell Ltd. | 118,850 | 2,216,458 |
ARB Corp., Ltd. | 19,684 | 592,630 |
ASX Ltd. | 46,222 | 2,761,430 |
Austal Ltd. | 590,101 | 820,016 |
Bank of Queensland Ltd. | 569,950 | 3,308,673 |
Bapcor Ltd. | 191,188 | 893,457 |
Beach Energy Ltd. | 1,499,527 | 1,659,401 |
Bega Cheese Ltd. | 243,473 | 830,378 |
Blackmores Ltd. | 12,360 | 741,291 |
Breville Group Ltd. | 43,676 | 853,189 |
carsales.com Ltd. | 65,400 | 972,879 |
Challenger Ltd. | 595,008 | 2,914,431 |
Charter Hall Group | 78,139 | 950,885 |
Charter Hall Retail REIT | 249,113 | 757,421 |
CIMIC Group Ltd. | 189,738 | 3,041,425 |
Cleanaway Waste Management Ltd. | 792,354 | 1,592,671 |
Cochlear Ltd. | 15,077 | 2,438,665 |
Collins Foods Ltd. | 76,432 | 606,209 |
Coronado Global Resources, Inc. * | 1,587,583 | 1,877,808 |
Costa Group Holdings Ltd. | 287,350 | 569,247 |
Cromwell Property Group | 988,169 | 634,602 |
CSR Ltd. | 744,571 | 3,090,504 |
Dexus | 462,419 | 3,664,253 |
Domino's Pizza Enterprises Ltd. | 11,367 | 651,216 |
Eagers Automotive Ltd. | 141,213 | 1,432,547 |
Eclipx Group Ltd. * | 724,708 | 1,220,052 |
Elders Ltd. | 116,042 | 974,262 |
Event Hospitality & Entertainment Ltd. * | 136,851 | 1,430,998 |
Evolution Mining Ltd. | 976,282 | 3,025,034 |
Flight Centre Travel Group Ltd. *(a) | 218,535 | 2,784,663 |
G.U.D. Holdings Ltd. | 79,365 | 669,210 |
G8 Education Ltd. * | 1,840,458 | 1,682,765 |
Genworth Mortgage Insurance Australia Ltd. | 465,252 | 1,012,830 |
GrainCorp Ltd., Class A | 532,298 | 3,244,601 |
GWA Group Ltd. | 348,175 | 578,576 |
Harvey Norman Holdings Ltd. | 609,476 | 2,321,898 |
Healius Ltd. | 518,760 | 1,618,684 |
Humm Group Ltd. | 850,195 | 542,911 |
IGO Ltd. | 179,036 | 1,419,998 |
Iluka Resources Ltd. | 141,463 | 1,097,356 |
Inghams Group Ltd. | 354,505 | 872,066 |
InvoCare Ltd. | 82,836 | 777,221 |
IOOF Holdings Ltd. | 733,985 | 2,034,594 |
IRESS Ltd. | 115,792 | 870,493 |
Link Administration Holdings Ltd. | 435,196 | 1,667,424 |
Magellan Financial Group Ltd. (a) | 42,740 | 570,663 |
McMillan Shakespeare Ltd. | 88,780 | 771,146 |
Mineral Resources Ltd. | 53,843 | 1,767,970 |
Monadelphous Group Ltd. | 209,745 | 1,718,354 |
Myer Holdings Ltd. * | 5,867,272 | 1,724,322 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
nib Holdings Ltd. | 410,416 | 1,944,754 |
Nine Entertainment Co. Holdings Ltd. | 853,861 | 1,728,696 |
Northern Star Resources Ltd. | 291,229 | 2,178,815 |
NRW Holdings Ltd. | 1,204,415 | 1,887,805 |
Nufarm Ltd. | 546,332 | 2,172,523 |
Orora Ltd. | 1,625,893 | 4,400,763 |
OZ Minerals Ltd. | 154,245 | 2,854,161 |
Pendal Group Ltd. | 304,852 | 1,022,017 |
Perenti Global Ltd. | 1,689,194 | 931,580 |
Perpetual Ltd. | 61,077 | 1,559,639 |
Platinum Asset Management Ltd. | 266,499 | 460,256 |
Premier Investments Ltd. | 48,285 | 965,998 |
Qube Holdings Ltd. | 837,220 | 1,804,360 |
REA Group Ltd. | 6,876 | 657,026 |
Reece Ltd. | 96,446 | 1,355,629 |
Regis Resources Ltd. | 812,595 | 1,152,784 |
Reliance Worldwide Corp., Ltd. | 316,148 | 1,057,593 |
Sandfire Resources Ltd. | 307,165 | 1,493,391 |
SEEK Ltd. | 117,808 | 2,279,948 |
Seven Group Holdings Ltd. | 69,761 | 1,123,304 |
Shopping Centres Australasia Property Group | 430,325 | 905,569 |
Southern Cross Media Group Ltd. | 497,134 | 638,519 |
St. Barbara Ltd. | 1,200,415 | 1,158,538 |
Steadfast Group Ltd. | 284,045 | 956,384 |
Super Retail Group Ltd. | 202,573 | 1,625,788 |
Tassal Group Ltd. | 315,305 | 819,108 |
The GPT Group | 825,372 | 2,958,720 |
The Star Entertainment Grp Ltd. * | 1,337,952 | 3,252,464 |
TPG Telecom Ltd. | 146,857 | 595,708 |
Vicinity Centres | 3,400,206 | 4,441,247 |
Washington H Soul Pattinson & Co., Ltd. | 39,664 | 724,735 |
Whitehaven Coal Ltd. | 2,435,207 | 5,672,416 |
Worley Ltd. | 426,228 | 3,689,857 |
140,465,542 | ||
Austria 0.8% | ||
ANDRITZ AG | 72,315 | 3,248,970 |
AT&S Austria Technologie & Systemtechnik AG | 26,679 | 1,465,331 |
BAWAG Group AG * | 62,172 | 3,354,711 |
CA Immobilien Anlagen AG | 19,999 | 688,487 |
EVN AG | 40,409 | 1,127,877 |
IMMOFINANZ AG *(a) | 46,159 | 1,191,417 |
Lenzing AG * | 16,912 | 1,882,461 |
Mayr Melnhof Karton AG | 9,828 | 1,861,144 |
Oesterreichische Post AG | 42,487 | 1,729,901 |
S IMMO AG | 32,360 | 832,341 |
UNIQA Insurance Group AG | 153,879 | 1,244,426 |
Verbund AG | 17,610 | 2,136,192 |
Vienna Insurance Group AG Wiener Versicherung Gruppe | 46,670 | 1,226,623 |
21,989,881 | ||
SECURITY | NUMBER OF SHARES | VALUE ($) |
Belgium 1.3% | ||
Ackermans & van Haaren N.V. | 22,923 | 4,299,770 |
AGFA-Gevaert N.V. * | 249,898 | 1,018,889 |
Barco N.V. | 60,203 | 1,376,744 |
Befimmo S.A. | 21,009 | 1,122,053 |
Bekaert S.A. | 64,932 | 2,835,583 |
bpost S.A. * | 267,987 | 1,818,059 |
Cie d'Entreprises CFE | 12,078 | 1,608,930 |
Cofinimmo S.A. | 9,815 | 1,290,935 |
D'ieteren Group | 24,113 | 3,913,600 |
Elia Group S.A. N.V. | 16,561 | 2,392,130 |
Euronav N.V. | 268,152 | 3,011,282 |
KBC Ancora | 18,327 | 826,689 |
Melexis N.V. | 8,090 | 743,291 |
Ontex Group N.V. * | 251,554 | 1,802,641 |
Orange Belgium S.A. | 42,915 | 944,762 |
Sofina S.A. | 3,820 | 1,489,705 |
Telenet Group Holding N.V. | 77,773 | 2,716,730 |
Tessenderlo Group S.A. * | 31,475 | 1,161,337 |
Warehouses De Pauw CVA | 19,316 | 764,124 |
35,137,254 | ||
Canada 8.7% | ||
Aclara Resources, Inc. * | 47,038 | 39,682 |
Aecon Group, Inc. | 124,742 | 1,731,940 |
Ag Growth International, Inc. | 27,025 | 799,020 |
Alamos Gold, Inc., Class A | 129,168 | 951,180 |
Algonquin Power & Utilities Corp. | 264,965 | 3,831,323 |
Allied Properties Real Estate Investment Trust | 50,981 | 1,771,784 |
Altus Group Ltd. | 14,265 | 552,448 |
Artis Real Estate Investment Trust | 178,341 | 1,827,913 |
ATS Automation Tooling Systems, Inc. * | 28,753 | 1,114,211 |
AutoCanada, Inc. * | 37,617 | 972,196 |
B2Gold Corp. | 523,803 | 2,114,457 |
Badger Infrastructure Solutions Ltd. | 31,166 | 746,500 |
Baytex Energy Corp. * | 990,959 | 4,523,714 |
Birchcliff Energy Ltd. | 346,395 | 1,840,740 |
BlackBerry Ltd. * | 146,611 | 1,005,650 |
Boardwalk Real Estate Investment Trust | 31,963 | 1,422,566 |
Boralex, Inc., Class A | 24,797 | 723,568 |
Boyd Group Services, Inc. | 7,631 | 995,547 |
Brookfield Infrastructure Corp., Class A (a) | 71,195 | 5,016,515 |
BRP, Inc. | 19,437 | 1,392,090 |
CAE, Inc. * | 131,955 | 3,527,886 |
Cameco Corp. | 185,183 | 4,550,916 |
Canadian Apartment Properties REIT | 56,523 | 2,351,207 |
Canadian Utilities Ltd., Class A | 146,736 | 4,083,873 |
Canadian Western Bank | 64,041 | 1,873,743 |
Canfor Corp. * | 98,553 | 2,229,263 |
Capital Power Corp. | 91,225 | 2,801,446 |
Cascades, Inc. | 240,275 | 2,487,335 |
Celestica, Inc. * | 410,656 | 4,879,241 |
Centerra Gold, Inc. | 227,855 | 2,220,434 |
Chartwell Retirement Residences | 159,396 | 1,529,427 |
Chemtrade Logistics Income Fund (a) | 279,091 | 1,628,315 |
Choice Properties Real Estate Investment Trust | 105,255 | 1,204,953 |
Chorus Aviation, Inc. * | 452,550 | 1,555,657 |
Cineplex, Inc. *(a) | 180,113 | 1,965,360 |
Cogeco Communications, Inc. | 10,522 | 839,537 |
Cogeco, Inc. | 24,428 | 1,510,728 |
Colliers International Group, Inc. | 10,236 | 1,404,641 |
Cominar Real Estate Investment Trust | 321,343 | 2,964,255 |
Constellation Software, Inc. | 2,544 | 4,284,615 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Corus Entertainment, Inc., B Shares | 637,923 | 2,555,011 |
Crombie Real Estate Investment Trust (a) | 60,430 | 828,063 |
Dorel Industries, Inc., Class B | 120,257 | 1,092,254 |
Dream Office Real Estate Investment Trust | 78,894 | 1,625,962 |
ECN Capital Corp. | 90,091 | 405,582 |
Element Fleet Management Corp. | 170,560 | 1,672,856 |
Enerflex Ltd. | 303,599 | 1,874,230 |
Enerplus Corp. | 363,483 | 4,642,587 |
Exchange Income Corp. (a) | 43,723 | 1,401,301 |
Extendicare, Inc. (a) | 102,931 | 623,259 |
First Capital Real Estate Investment Trust | 184,782 | 2,644,218 |
FirstService Corp. | 5,442 | 774,198 |
Franco-Nevada Corp. | 25,010 | 3,680,661 |
Gibson Energy, Inc. | 205,880 | 4,015,825 |
Granite Real Estate Investment Trust | 13,632 | 1,008,898 |
Home Capital Group, Inc. * | 52,013 | 1,571,032 |
Hudbay Minerals, Inc. | 274,320 | 2,234,183 |
IAMGOLD Corp. * | 590,506 | 1,731,921 |
IGM Financial, Inc. | 79,584 | 2,825,456 |
Innergex Renewable Energy, Inc. | 48,235 | 700,888 |
Interfor Corp. | 86,081 | 2,620,402 |
Intertape Polymer Group, Inc. | 51,330 | 969,659 |
Just Energy Group, Inc. * | 54,636 | 54,061 |
Killam Apartment Real Estate Investment Trust | 45,975 | 773,167 |
Laurentian Bank of Canada | 49,041 | 1,645,977 |
LifeWorks, Inc. | 34,429 | 684,590 |
Lundin Mining Corp. | 409,052 | 3,944,263 |
Maple Leaf Foods, Inc. | 109,463 | 2,304,303 |
Martinrea International, Inc. | 310,988 | 2,424,939 |
MEG Energy Corp. * | 479,089 | 6,251,368 |
Mullen Group Ltd. | 167,742 | 1,634,636 |
NFI Group, Inc. | 110,977 | 1,658,946 |
Northland Power, Inc. | 82,754 | 2,629,390 |
NorthWest Healthcare Properties Real Estate Investment Trust | 84,685 | 906,040 |
NuVista Energy Ltd. * | 372,093 | 2,833,933 |
OceanaGold Corp. * | 1,128,532 | 2,126,536 |
Pan American Silver Corp. | 70,194 | 1,659,176 |
Parex Resources, Inc. | 141,654 | 3,121,559 |
Pason Systems, Inc. | 109,258 | 1,112,953 |
Peyto Exploration & Development Corp. | 408,026 | 3,519,379 |
PrairieSky Royalty Ltd. | 109,893 | 1,485,052 |
Precision Drilling Corp. * | 57,683 | 3,363,155 |
Premium Brands Holdings Corp. | 15,441 | 1,423,394 |
Primo Water Corp. | 146,923 | 2,134,892 |
Richelieu Hardware Ltd. | 39,911 | 1,525,828 |
Ritchie Bros. Auctioneers, Inc. | 33,357 | 1,747,077 |
Russel Metals, Inc. | 120,525 | 2,983,786 |
Secure Energy Services, Inc. | 573,618 | 2,772,325 |
ShawCor Ltd. * | 409,354 | 1,891,287 |
Shopify, Inc., Class A * | 757 | 525,170 |
Sienna Senior Living, Inc. (a) | 66,809 | 813,286 |
Sleep Country Canada Holdings, Inc. | 28,925 | 681,192 |
SmartCentres Real Estate Investment Trust | 92,756 | 2,326,305 |
SSR Mining, Inc. | 63,270 | 1,251,582 |
Stantec, Inc. | 69,766 | 3,464,785 |
Stelco Holdings, Inc. | 23,595 | 723,839 |
Stella-Jones, Inc. | 68,054 | 2,132,808 |
Superior Plus Corp. | 212,280 | 1,913,005 |
The Descartes Systems Group, Inc. * | 9,441 | 672,300 |
The North West Co., Inc. | 54,848 | 1,557,634 |
TMX Group Ltd. | 17,496 | 1,766,222 |
Torex Gold Resources, Inc. * | 76,612 | 971,278 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Toromont Industries Ltd. | 35,645 | 3,019,434 |
Tourmaline Oil Corp. | 147,512 | 5,815,114 |
TransAlta Corp. | 420,034 | 4,262,102 |
Transat AT, Inc. *(a) | 340,126 | 1,305,959 |
Transcontinental, Inc., Class A | 147,038 | 2,370,739 |
Tricon Residential, Inc. | 56,469 | 838,787 |
Turquoise Hill Resources Ltd. * | 76,950 | 1,581,651 |
Westshore Terminals Investment Corp. | 50,487 | 1,182,614 |
Wheaton Precious Metals Corp. | 83,546 | 3,658,410 |
Whitecap Resources, Inc. | 682,603 | 5,204,219 |
Winpak Ltd. | 34,643 | 1,043,373 |
Yamana Gold, Inc. | 394,815 | 1,939,289 |
234,397,431 | ||
Denmark 1.3% | ||
Chr Hansen Holding A/S | 33,061 | 2,419,213 |
D/S Norden A/S | 47,123 | 1,230,988 |
Demant A/S * | 34,994 | 1,479,010 |
Dfds A/S * | 34,395 | 1,601,712 |
FLSmidth & Co. A/S | 81,524 | 2,351,222 |
Genmab A/S * | 3,220 | 1,084,265 |
GN Store Nord A/S | 33,221 | 1,758,229 |
H. Lundbeck A/S | 48,524 | 1,179,295 |
Jyske Bank A/S * | 60,765 | 3,316,014 |
Matas A/S | 42,103 | 612,865 |
NKT A/S * | 22,517 | 947,254 |
Per Aarsleff Holding A/S | 30,236 | 1,191,625 |
Ringkjoebing Landbobank A/S | 6,969 | 870,263 |
Rockwool International A/S, B Shares | 4,011 | 1,381,506 |
Royal Unibrew A/S | 19,833 | 2,115,504 |
Scandinavian Tobacco Group A/S, Class A | 76,183 | 1,725,536 |
Schouw & Co. A/S | 16,656 | 1,446,150 |
SimCorp A/S | 9,654 | 874,940 |
Sydbank A/S | 87,216 | 2,844,623 |
The Drilling Co. of 1972 A/S * | 30,543 | 1,200,957 |
Topdanmark A/S | 21,952 | 1,256,285 |
Tryg A/S | 102,668 | 2,334,720 |
35,222,176 | ||
Finland 1.0% | ||
Aktia Bank Oyj | 51,529 | 590,349 |
Cargotec Oyj, B Shares | 58,713 | 2,337,143 |
Finnair Oyj *(a) | 1,500,602 | 758,128 |
Huhtamaki Oyj | 83,893 | 3,080,335 |
Kemira Oyj | 142,254 | 1,893,390 |
Kojamo Oyj | 62,981 | 1,468,568 |
Konecranes Oyj | 74,008 | 2,598,513 |
Metsa Board Oyj, Class B | 158,306 | 1,553,165 |
Neles Oyj | 83,009 | 1,083,866 |
Orion Oyj, B Shares | 77,907 | 3,674,343 |
Sanoma Oyj | 65,675 | 960,436 |
TietoEVRY Oyj | 69,823 | 1,960,631 |
Tokmanni Group Corp. | 33,890 | 633,025 |
Uponor Oyj | 46,382 | 1,039,842 |
Valmet Oyj | 84,183 | 2,940,641 |
YIT Oyj | 279,565 | 1,219,605 |
27,791,980 | ||
France 3.9% | ||
Aeroports de Paris * | 26,956 | 3,845,178 |
Albioma S.A. | 19,736 | 905,763 |
Alten S.A. | 20,371 | 3,116,354 |
Amundi S.A. | 32,977 | 2,311,282 |
Beneteau S.A. * | 50,994 | 855,711 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
BioMerieux | 13,566 | 1,495,088 |
CGG S.A. * | 2,439,747 | 2,081,003 |
Cie Plastic Omnium S.A. | 97,880 | 2,084,441 |
Coface S.A. | 92,224 | 1,239,925 |
Covivio | 33,116 | 2,731,667 |
Dassault Aviation S.A. | 15,523 | 2,341,580 |
Derichebourg S.A. | 145,639 | 1,527,854 |
Edenred | 71,743 | 3,294,989 |
Elior Group S.A. * | 446,089 | 2,072,332 |
Eramet S.A. * | 14,134 | 1,873,287 |
Eurofins Scientific SE | 21,923 | 2,229,450 |
Euronext N.V. | 21,494 | 1,951,886 |
Fnac Darty S.A. | 40,396 | 2,240,509 |
Gaztransport Et Technigaz S.A. | 10,240 | 985,685 |
Gecina S.A. (a) | 20,096 | 2,561,904 |
Getlink SE | 212,353 | 3,491,860 |
ICADE (a) | 31,999 | 1,987,554 |
Imerys S.A. | 69,040 | 2,962,248 |
Ipsen S.A. | 18,008 | 2,108,622 |
IPSOS | 55,091 | 2,654,576 |
JCDecaux S.A. * | 97,072 | 2,749,770 |
Kaufman & Broad S.A. | 29,316 | 1,071,798 |
Korian S.A. | 73,677 | 1,500,331 |
La Francaise des Jeux SAEM | 28,929 | 1,205,168 |
Maisons du Monde S.A. | 65,274 | 1,445,787 |
Mercialys S.A. | 98,502 | 1,012,333 |
Mersen S.A. | 26,192 | 976,706 |
Metropole Television S.A. | 94,605 | 1,887,184 |
Nexans S.A. | 31,512 | 3,068,685 |
Nexity S.A. | 67,962 | 2,694,624 |
Orpea S.A. | 30,039 | 1,249,723 |
Quadient S.A. | 94,621 | 1,732,337 |
Remy Cointreau S.A. | 6,806 | 1,320,206 |
Sartorius Stedim Biotech | 1,579 | 609,031 |
SEB S.A. | 23,598 | 3,464,241 |
Societe BIC S.A. | 53,443 | 2,836,886 |
Sopra Steria Group S.A. | 15,328 | 2,754,627 |
SPIE S.A. | 143,883 | 3,400,263 |
Tarkett S.A. * | 46,541 | 818,625 |
Technicolor S.A. * | 433,367 | 1,453,459 |
Television Francaise 1 S.A. | 233,254 | 2,318,620 |
Trigano S.A. | 5,782 | 996,882 |
UbiSoft Entertainment S.A. * | 54,618 | 2,966,126 |
Vallourec S.A. * | 124,820 | 1,228,134 |
Verallia S.A. | 30,743 | 811,468 |
Vicat S.A. | 34,492 | 1,270,719 |
Virbac S.A. | 1,709 | 702,555 |
Worldline S.A. * | 33,483 | 1,726,401 |
104,223,437 | ||
Germany 3.6% | ||
1&1 AG | 62,194 | 1,496,323 |
Aareal Bank AG | 120,382 | 3,707,544 |
ADVA Optical Networking SE * | 47,790 | 805,166 |
Aroundtown S.A. | 314,127 | 1,951,137 |
Bechtle AG | 41,402 | 2,141,451 |
Befesa S.A. | 16,909 | 1,183,214 |
Bilfinger SE | 58,453 | 2,224,372 |
Borussia Dortmund GmbH & Co. KGaA * | 100,930 | 458,447 |
CANCOM SE | 22,992 | 1,318,605 |
Carl Zeiss Meditec AG, Class B | 6,439 | 1,018,668 |
CECONOMY AG | 562,100 | 2,251,398 |
Cewe Stiftung & Co. KGaA | 5,312 | 607,384 |
CTS Eventim AG & Co., KGaA * | 18,784 | 1,321,591 |
Deutsche Euroshop AG | 49,927 | 942,672 |
Deutsche Pfandbriefbank AG | 346,545 | 3,791,971 |
Deutz AG * | 284,746 | 1,648,707 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Duerr AG | 64,040 | 2,326,208 |
DWS Group GmbH & Co. KGaA | 32,643 | 1,198,933 |
ElringKlinger AG * | 64,125 | 693,603 |
Fielmann AG | 15,872 | 946,637 |
Fraport AG Frankfurt Airport Services Worldwide * | 48,660 | 3,325,206 |
Gerresheimer AG | 24,357 | 1,764,578 |
Grand City Properties S.A. | 57,258 | 1,256,018 |
GRENKE AG (a) | 20,035 | 585,311 |
Hamburger Hafen und Logistik AG | 35,862 | 712,557 |
Hella GmbH & Co. KGaA | 30,577 | 2,130,021 |
HelloFresh SE * | 7,826 | 429,663 |
HOCHTIEF AG | 33,325 | 2,256,320 |
Hornbach Holding AG & Co. KGaA | 21,289 | 2,812,029 |
Jenoptik AG | 40,190 | 1,463,485 |
JOST Werke AG | 15,562 | 727,137 |
Kloeckner & Co. SE * | 310,103 | 4,252,839 |
Krones AG | 21,251 | 1,966,817 |
KWS Saat SE & Co. KGaA | 7,059 | 517,742 |
LEG Immobilien SE | 20,413 | 2,643,586 |
Leoni AG *(a) | 207,281 | 2,467,872 |
Nordex SE *(a) | 56,643 | 1,012,217 |
Norma Group SE | 38,108 | 1,327,747 |
Pfeiffer Vacuum Technology AG | 3,858 | 768,729 |
Puma SE | 29,881 | 2,751,442 |
QIAGEN N.V. * | 44,955 | 2,262,108 |
Rational AG | 791 | 584,601 |
RTL Group S.A. * | 66,269 | 3,717,203 |
S&T AG (a) | 26,847 | 424,576 |
SAF-Holland SE * | 85,614 | 1,024,122 |
Scout24 SE | 20,918 | 1,226,445 |
Siltronic AG | 12,973 | 1,479,713 |
Sixt SE * | 13,531 | 2,033,496 |
Software AG | 38,616 | 1,469,495 |
Stabilus S.A. | 18,535 | 1,101,300 |
Stroeer SE & Co. KGaA | 14,764 | 1,120,177 |
Suedzucker AG | 163,144 | 2,237,402 |
TAG Immobilien AG | 63,381 | 1,635,936 |
Takkt AG | 76,180 | 1,314,285 |
Talanx AG * | 76,973 | 3,385,621 |
Wacker Chemie AG | 15,521 | 2,418,856 |
Wacker Neuson SE | 38,124 | 908,659 |
Zalando SE * | 32,640 | 2,184,278 |
97,733,620 | ||
Hong Kong 3.7% | ||
Asia Cement China Holdings Corp. | 1,147,728 | 716,807 |
ASM Pacific Technology Ltd. | 255,162 | 2,788,799 |
BOC Aviation Ltd. | 154,993 | 1,343,893 |
Brightoil Petroleum Holdings Ltd. *(b) | 2,380,161 | 0 |
Budweiser Brewing Co. APAC Ltd. | 722,262 | 2,241,557 |
Cafe de Coral Holdings Ltd. | 524,653 | 804,400 |
Cathay Pacific Airways Ltd. * | 2,532,758 | 2,256,037 |
Champion REIT | 1,123,750 | 509,115 |
Chow Sang Sang Holdings International Ltd. | 821,135 | 1,149,675 |
Chow Tai Fook Jewellery Group Ltd. * | 1,461,302 | 3,037,171 |
CITIC Telecom International Holdings Ltd. | 2,886,783 | 1,027,075 |
CK Infrastructure Holdings Ltd. | 164,098 | 1,018,564 |
Cowell e Holdings, Inc. * | 1,252,103 | 1,413,357 |
Dairy Farm International Holdings Ltd. | 489,704 | 1,297,716 |
FIH Mobile Ltd. * | 13,384,000 | 1,969,822 |
FIT Hon Teng Ltd. * | 2,633,202 | 475,167 |
Fortune Real Estate Investment Trust | 905,480 | 850,586 |
Haitong International Securities Group Ltd. | 4,043,580 | 890,098 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Hang Lung Group Ltd. | 1,262,469 | 2,782,256 |
Hang Lung Properties Ltd. | 1,290,790 | 2,705,906 |
HKBN Ltd. | 608,582 | 765,625 |
Huabao International Holdings Ltd. (a) | 376,370 | 215,311 |
Hysan Development Co., Ltd. | 444,829 | 1,309,375 |
IGG, Inc. | 1,197,529 | 715,725 |
Johnson Electric Holdings Ltd. | 756,215 | 1,256,213 |
JS Global Lifestyle Co., Ltd. | 247,862 | 284,859 |
K Wah International Holdings Ltd. | 3,423,018 | 1,296,714 |
Kerry Logistics Network Ltd. | 371,382 | 901,161 |
Kerry Properties Ltd. | 1,172,461 | 3,211,112 |
Lee & Man Paper Manufacturing Ltd. | 2,626,915 | 1,687,691 |
Luk Fook Holdings International Ltd. | 729,331 | 1,936,806 |
Man Wah Holdings Ltd. | 554,082 | 648,841 |
Melco International Development Ltd. * | 1,886,168 | 1,870,791 |
MGM China Holdings Ltd. * | 711,923 | 457,383 |
Minth Group Ltd. | 534,758 | 1,923,122 |
MMG Ltd. * | 3,429,191 | 1,237,611 |
NagaCorp Ltd. | 1,612,089 | 1,485,473 |
Nexteer Automotive Group Ltd. | 1,563,908 | 1,561,166 |
NWS Holdings Ltd. | 3,261,911 | 3,201,922 |
Pacific Basin Shipping Ltd. | 5,043,268 | 2,672,118 |
Pacific Textiles Holdings Ltd. | 1,339,535 | 649,735 |
Power Assets Holdings Ltd. | 113,717 | 716,762 |
Powerlong Real Estate Holdings Ltd. | 2,713,058 | 1,295,123 |
PRADA S.p.A. | 260,045 | 1,622,432 |
Shangri-La Asia Ltd. * | 1,494,034 | 1,217,988 |
Shui On Land Ltd. | 13,632,179 | 1,988,902 |
Shun Tak Holdings Ltd. * | 4,750,000 | 1,209,734 |
SITC International Holdings Co., Ltd. | 453,952 | 1,864,912 |
SJM Holdings Ltd. * | 2,416,216 | 1,360,604 |
Stella International Holdings Ltd. | 1,415,000 | 1,437,872 |
Swire Properties Ltd. | 706,513 | 1,835,521 |
The Bank of East Asia Ltd. | 1,762,135 | 2,967,825 |
Tingyi Cayman Islands Holding Corp. | 2,006,654 | 4,437,716 |
Towngas Smart Energy Co., Ltd. * | 1,412,347 | 1,001,370 |
Truly International Holdings Ltd. | 4,899,783 | 1,693,105 |
Uni-President China Holdings Ltd. | 1,427,890 | 1,480,209 |
Value Partners Group Ltd. | 1,120,412 | 547,753 |
Vitasoy International Holdings Ltd. | 392,716 | 728,769 |
VSTECS Holdings Ltd. | 1,534,419 | 1,578,859 |
VTech Holdings Ltd. | 280,780 | 2,308,780 |
Want Want China Holdings Ltd. | 4,897,071 | 5,208,117 |
Wynn Macau Ltd. * | 1,662,614 | 1,417,128 |
Xinyi Glass Holdings Ltd. | 913,004 | 2,424,566 |
98,910,802 | ||
Ireland 0.3% | ||
AIB Group plc * | 1,014,294 | 2,673,833 |
Dalata Hotel Group plc * | 180,401 | 854,071 |
Glanbia plc (a) | 208,550 | 2,932,728 |
Irish Continental Group plc * | 149,616 | 677,236 |
7,137,868 | ||
Israel 2.1% | ||
Arad Investment & Industrial Development Ltd. | 6,206 | 868,912 |
Azrieli Group Ltd. | 9,926 | 848,469 |
Bezeq The Israeli Telecommunication Corp., Ltd. * | 3,359,624 | 5,523,474 |
Cellcom Israel Ltd. * | 165,146 | 844,419 |
Clal Insurance Enterprises Holdings Ltd. * | 31,903 | 746,654 |
Delek Group Ltd. * | 26,711 | 3,303,994 |
El Al Israel Airlines * | 595,466 | 660,401 |
Elbit Systems Ltd. | 14,992 | 3,072,812 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Equital Ltd. * | 27,806 | 1,112,951 |
First International Bank of Israel Ltd. | 33,787 | 1,451,425 |
Gazit-Globe Ltd. | 142,805 | 1,245,196 |
Harel Insurance Investments & Financial Services Ltd. | 98,399 | 1,193,515 |
Isracard Ltd. | 214,338 | 1,125,367 |
Israel Discount Bank Ltd., A Shares | 798,364 | 5,250,281 |
Mizrahi Tefahot Bank Ltd. | 63,578 | 2,481,276 |
Nice Ltd. * | 10,904 | 2,468,618 |
Norstar Holdings, Inc. | 85,209 | 1,128,163 |
Oil Refineries Ltd. * | 10,395,411 | 3,700,312 |
Partner Communications Co., Ltd. * | 145,343 | 1,115,425 |
Paz Oil Co., Ltd. * | 29,520 | 4,284,174 |
Shikun & Binui Ltd. * | 123,466 | 746,084 |
Shufersal Ltd. | 126,061 | 1,127,507 |
Strauss Group Ltd. | 23,894 | 784,925 |
The Israel Corp., Ltd. * | 10,009 | 5,252,660 |
The Phoenix Holdings Ltd. | 79,022 | 981,165 |
Tower Semiconductor Ltd. * | 90,015 | 4,206,663 |
55,524,842 | ||
Italy 2.4% | ||
ACEA S.p.A. | 52,336 | 1,000,501 |
Amplifon S.p.A. | 20,927 | 903,776 |
Anima Holding S.p.A. | 353,923 | 1,681,537 |
Autogrill S.p.A. * | 320,762 | 2,445,581 |
Azimut Holding S.p.A. | 92,213 | 2,216,477 |
Banca Generali S.p.A. | 30,901 | 1,146,406 |
Banca IFIS S.p.A. | 66,535 | 1,415,427 |
Banca Mediolanum S.p.A. | 178,373 | 1,474,967 |
Banca Monte dei Paschi di Siena S.p.A. *(a) | 1,044,685 | 1,007,239 |
Banca Popolare di Sondrio Scarl | 640,926 | 2,551,284 |
BFF Bank S.p.A. | 125,483 | 909,079 |
BPER Banca | 1,551,750 | 3,128,553 |
Brembo S.p.A. | 153,518 | 1,827,774 |
Buzzi Unicem S.p.A. | 105,173 | 2,020,620 |
Davide Campari-Milano N.V. | 130,467 | 1,428,478 |
De'Longhi S.p.A. | 41,497 | 1,326,505 |
DiaSorin S.p.A. | 5,007 | 751,629 |
Enav S.p.A. * | 321,709 | 1,483,677 |
ERG S.p.A. | 44,628 | 1,416,566 |
Esprinet S.p.A. | 72,398 | 906,690 |
Fincantieri S.p.A. *(a) | 868,679 | 617,131 |
FinecoBank Banca Fineco S.p.A. | 152,986 | 2,564,622 |
Hera S.p.A. | 926,485 | 3,605,777 |
Infrastrutture Wireless Italiane S.p.A. | 60,007 | 614,148 |
Interpump Group S.p.A. | 33,411 | 1,818,571 |
Iren S.p.A. | 973,214 | 2,750,276 |
Italgas S.p.A. | 491,026 | 3,186,686 |
Maire Tecnimont S.p.A. (a) | 224,655 | 714,606 |
MARR S.p.A. | 38,339 | 720,864 |
MFE-MediaForEurope N.V., Class A * | 799,468 | 720,166 |
MFE-MediaForEurope N.V., Class B | 698,671 | 860,083 |
Moncler S.p.A. | 45,830 | 2,788,985 |
Nexi S.p.A. * | 44,879 | 618,508 |
OVS S.p.A. * | 713,107 | 1,811,776 |
Piaggio & C S.p.A. | 212,796 | 626,691 |
Recordati Industria Chimica e Farmaceutica S.p.A. | 36,374 | 1,787,828 |
Reply S.p.A. | 5,661 | 926,424 |
Saipem S.p.A. *(a) | 1,635,334 | 1,939,669 |
Salvatore Ferragamo S.p.A. * | 59,065 | 1,288,690 |
Societa Cattolica Di Assicurazione S.p.A. * | 71,090 | 437,968 |
Technogym S.p.A. | 55,153 | 437,662 |
Tod's S.p.A. * | 13,537 | 692,121 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
UnipolSai Assicurazioni S.p.A. | 601,368 | 1,641,360 |
Webuild S.p.A. (a) | 371,538 | 703,587 |
64,916,965 | ||
Japan 33.0% | ||
ABC-Mart, Inc. | 33,095 | 1,430,980 |
Achilles Corp. | 62,193 | 698,203 |
Acom Co., Ltd. | 302,841 | 841,408 |
Adastria Co., Ltd. | 92,364 | 1,361,702 |
ADEKA Corp. | 164,237 | 3,788,823 |
Advance Residence Investment Corp. | 238 | 665,387 |
Aeon Delight Co., Ltd. | 33,637 | 868,560 |
AEON Financial Service Co., Ltd. (a) | 201,792 | 2,081,432 |
Aeon Mall Co., Ltd. | 168,454 | 2,359,160 |
Aica Kogyo Co., Ltd. | 66,117 | 1,848,463 |
Aichi Steel Corp. | 61,306 | 1,398,847 |
Aida Engineering Ltd. | 109,396 | 943,175 |
Aiful Corp. | 215,749 | 691,221 |
Ain Holdings, Inc. | 38,887 | 2,160,858 |
Alpen Co., Ltd. | 34,938 | 640,972 |
Amano Corp. | 88,276 | 1,722,982 |
Anritsu Corp. | 85,646 | 1,191,273 |
AOKI Holdings, Inc. | 194,946 | 1,012,179 |
Aoyama Trading Co., Ltd. * | 427,766 | 2,521,842 |
Aozora Bank Ltd. | 150,788 | 3,406,558 |
Arata Corp. | 70,121 | 2,435,285 |
Arcland Sakamoto Co., Ltd. | 70,222 | 956,617 |
Arcs Co., Ltd. | 159,447 | 3,012,430 |
Ariake Japan Co., Ltd. | 11,704 | 583,295 |
As One Corp. | 9,759 | 585,498 |
Asahi Holdings, Inc. | 61,727 | 1,198,364 |
Asahi Intecc Co., Ltd. | 29,347 | 625,798 |
Asanuma Corp. | 18,904 | 884,676 |
Asics Corp. | 184,792 | 3,669,367 |
ASKUL Corp. | 55,393 | 796,928 |
Autobacs Seven Co., Ltd. | 152,852 | 1,907,083 |
Avex, Inc. | 68,378 | 821,070 |
Axial Retailing, Inc. | 42,336 | 1,222,203 |
Azbil Corp. | 85,597 | 3,218,016 |
Belc Co., Ltd. | 18,561 | 884,740 |
Belluna Co., Ltd. | 99,754 | 635,723 |
Benesse Holdings, Inc. | 122,135 | 2,479,285 |
BML, Inc. | 23,077 | 666,212 |
Bunka Shutter Co., Ltd. | 124,547 | 1,176,533 |
Calbee, Inc. | 99,514 | 2,230,911 |
Canon Electronics, Inc. | 47,965 | 667,158 |
Canon Marketing Japan, Inc. | 118,137 | 2,462,747 |
Capcom Co., Ltd. | 46,936 | 1,130,865 |
Cawachi Ltd. | 49,321 | 1,049,155 |
Central Glass Co., Ltd. | 127,005 | 2,270,487 |
Chudenko Corp. | 55,003 | 1,043,469 |
Chugoku Marine Paints Ltd. | 102,056 | 813,435 |
Citizen Watch Co., Ltd. | 923,053 | 3,999,162 |
CKD Corp. | 59,683 | 1,027,061 |
Colowide Co., Ltd. (a) | 42,424 | 637,603 |
Cosmos Pharmaceutical Corp. | 14,324 | 1,973,709 |
Create SD Holdings Co., Ltd. | 30,824 | 841,689 |
Credit Saison Co., Ltd. | 332,269 | 3,735,953 |
CyberAgent, Inc. | 146,933 | 1,895,745 |
Daifuku Co., Ltd. | 42,268 | 3,031,332 |
Daihen Corp. | 27,813 | 1,039,592 |
Daiho Corp. | 32,047 | 996,121 |
Daiichikosho Co., Ltd. | 64,339 | 1,955,168 |
Daikyonishikawa Corp. | 284,224 | 1,391,815 |
Daio Paper Corp. | 107,898 | 1,592,590 |
Daiseki Co., Ltd. | 27,403 | 1,111,109 |
Daishi Hokuetsu Financial Group, Inc. | 49,267 | 1,138,263 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Daiwa House REIT Investment Corp. | 277 | 749,169 |
Daiwabo Holdings Co., Ltd. | 217,285 | 3,327,899 |
DCM Holdings Co., Ltd. | 270,532 | 2,618,999 |
DeNA Co., Ltd. | 99,773 | 1,528,106 |
Descente Ltd. * | 38,958 | 1,019,825 |
Dexerials Corp. | 43,022 | 1,210,256 |
Disco Corp. | 10,955 | 3,057,983 |
DMG Mori Co., Ltd. | 131,921 | 1,829,198 |
Doshisha Co., Ltd. | 59,439 | 799,401 |
Doutor Nichires Holdings Co., Ltd. | 85,657 | 1,205,557 |
Dowa Holdings Co., Ltd. | 95,879 | 4,337,136 |
DTS Corp. | 50,471 | 1,202,452 |
Duskin Co., Ltd. | 80,775 | 1,964,409 |
DyDo Group Holdings, Inc. | 20,993 | 938,693 |
Eagle Industry Co., Ltd. | 94,922 | 853,824 |
Earth Corp. | 15,601 | 759,901 |
Eizo Corp. | 29,807 | 953,669 |
Elecom Co., Ltd. | 43,248 | 590,659 |
Exedy Corp. | 171,070 | 2,478,974 |
Exeo Group, Inc. | 165,900 | 3,436,834 |
Ezaki Glico Co., Ltd. | 84,662 | 2,888,836 |
Fancl Corp. | 31,486 | 887,103 |
FCC Co., Ltd. | 125,210 | 1,532,851 |
Food & Life Cos. Ltd. | 35,394 | 1,167,764 |
Foster Electric Co., Ltd. | 166,341 | 1,146,731 |
FP Corp. | 33,112 | 937,227 |
Fuji Co., Ltd. (a) | 75,519 | 2,065,421 |
Fuji Corp. | 85,324 | 1,719,444 |
Fuji Media Holdings, Inc. | 133,210 | 1,441,108 |
Fuji Oil Holdings, Inc. | 71,018 | 1,376,889 |
Fuji Seal International, Inc. | 74,013 | 1,165,701 |
Fuji Soft, Inc. | 24,852 | 1,212,661 |
Fujibo Holdings, Inc. | 16,745 | 521,941 |
Fujimori Kogyo Co., Ltd. | 29,057 | 1,005,358 |
Fujitec Co., Ltd. | 84,701 | 2,018,704 |
Fujitsu General Ltd. | 61,642 | 1,323,022 |
Fukuoka Financial Group, Inc. | 174,440 | 3,454,722 |
Fukuyama Transporting Co., Ltd. | 51,082 | 1,758,542 |
Furukawa Co., Ltd. | 99,233 | 1,144,184 |
Furuno Electric Co., Ltd. | 63,176 | 566,075 |
Futaba Industrial Co., Ltd. | 427,681 | 1,444,479 |
Fuyo General Lease Co., Ltd. | 14,485 | 945,754 |
Geo Holdings Corp. | 194,431 | 2,562,590 |
Glory Ltd. | 143,098 | 2,586,760 |
GLP J-REIT | 405 | 603,412 |
GMO Internet, Inc. | 24,151 | 543,306 |
Godo Steel Ltd. | 43,300 | 498,509 |
Goldwin, Inc. | 15,428 | 810,414 |
Gree, Inc. | 97,930 | 801,806 |
GS Yuasa Corp. | 160,763 | 3,443,476 |
GungHo Online Entertainment, Inc. | 70,599 | 1,548,979 |
Gunze Ltd. | 40,735 | 1,391,728 |
H.U. Group Holdings, Inc. | 98,565 | 2,597,306 |
Hamakyorex Co., Ltd. | 39,163 | 987,448 |
Hamamatsu Photonics K.K. | 40,860 | 2,054,086 |
Hazama Ando Corp. | 466,232 | 3,740,381 |
Heiwa Corp. | 100,596 | 1,690,065 |
Heiwa Real Estate Co., Ltd. | 22,072 | 784,761 |
Heiwado Co., Ltd. | 109,588 | 1,902,982 |
Hikari Tsushin, Inc. | 13,773 | 1,698,082 |
Hirata Corp. | 11,704 | 529,436 |
Hirose Electric Co., Ltd. | 19,910 | 2,964,675 |
HIS Co., Ltd. * | 70,229 | 1,203,664 |
Hisamitsu Pharmaceutical Co., Inc. | 60,761 | 1,930,847 |
Hitachi Transport System Ltd. | 42,339 | 2,235,043 |
Hitachi Zosen Corp. | 337,571 | 2,315,442 |
Hogy Medical Co., Ltd. | 23,819 | 692,804 |
Hokkoku Financial Holdings, Inc. | 40,345 | 1,066,642 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Hokuetsu Corp. | 408,456 | 2,539,219 |
Hokuhoku Financial Group, Inc. | 260,681 | 2,129,810 |
Hokuriku Electric Power Co. | 734,200 | 3,595,301 |
Horiba Ltd. | 40,967 | 2,344,020 |
Hoshizaki Corp. | 37,072 | 2,568,566 |
Hosiden Corp. | 215,677 | 2,209,671 |
House Foods Group, Inc. | 95,703 | 2,472,864 |
Hulic Co., Ltd. | 233,878 | 2,126,071 |
Ibiden Co., Ltd. | 67,753 | 3,247,203 |
Ichikoh Industries Ltd. | 108,852 | 476,331 |
IDOM, Inc. | 98,898 | 564,150 |
Iino Kaiun Kaisha Ltd. | 185,307 | 1,420,674 |
Inaba Denki Sangyo Co., Ltd. | 123,998 | 2,869,153 |
Inabata & Co., Ltd. | 206,452 | 4,160,409 |
Inageya Co., Ltd. | 70,099 | 873,385 |
INFRONEER Holdings, Inc. | 513,145 | 4,544,458 |
Internet Initiative Japan, Inc. | 40,612 | 1,290,557 |
Iriso Electronics Co., Ltd. | 17,602 | 625,068 |
Ishihara Sangyo Kaisha Ltd. | 107,305 | 987,569 |
Ito En Ltd. | 44,136 | 2,529,174 |
Itochu Enex Co., Ltd. | 233,475 | 2,118,354 |
Itochu Techno-Solutions Corp. | 73,748 | 1,894,685 |
Itoham Yonekyu Holdings, Inc. | 579,022 | 3,473,881 |
Iwatani Corp. | 69,065 | 3,262,111 |
Izumi Co., Ltd. | 101,201 | 2,824,929 |
Jaccs Co., Ltd. | 54,308 | 1,527,744 |
JAFCO Group Co., Ltd. | 44,393 | 662,956 |
Japan Airport Terminal Co., Ltd. * | 30,198 | 1,402,729 |
Japan Aviation Electronics Industry Ltd. | 116,011 | 1,819,109 |
Japan Display, Inc. *(a) | 3,195,485 | 1,165,273 |
Japan Lifeline Co., Ltd. | 56,276 | 534,543 |
Japan Metropolitan Fund Invest | 1,550 | 1,252,919 |
Japan Petroleum Exploration Co., Ltd. | 96,940 | 2,300,300 |
Japan Post Bank Co., Ltd. | 306,312 | 2,696,769 |
Japan Prime Realty Investment Corp. | 189 | 613,727 |
Japan Real Estate Investment Corp. | 244 | 1,298,650 |
Jeol Ltd. | 12,138 | 694,503 |
J-Oil Mills, Inc. | 65,647 | 988,909 |
Joshin Denki Co., Ltd. | 83,968 | 1,529,541 |
Joyful Honda Co., Ltd. | 126,682 | 1,751,055 |
Juki Corp. | 115,282 | 659,612 |
Juroku Financial Group, Inc. | 50,377 | 1,068,994 |
JVC Kenwood Corp. | 976,579 | 1,577,110 |
Kadokawa Corp. | 51,162 | 1,282,437 |
Kaga Electronics Co., Ltd. | 52,927 | 1,383,202 |
Kagome Co., Ltd. | 72,065 | 1,920,899 |
Kakaku.com, Inc. | 37,750 | 820,716 |
Kaken Pharmaceutical Co., Ltd. | 47,693 | 1,747,467 |
Kameda Seika Co., Ltd. | 18,331 | 657,322 |
Kamigumi Co., Ltd. | 187,751 | 3,635,205 |
Kanamoto Co., Ltd. | 82,824 | 1,637,423 |
Kandenko Co., Ltd. | 330,099 | 2,502,074 |
Kanematsu Corp. | 284,860 | 3,462,592 |
Kansai Paint Co., Ltd. | 138,994 | 2,774,449 |
Kanto Denka Kogyo Co., Ltd. | 79,829 | 831,039 |
Kato Sangyo Co., Ltd. | 94,080 | 2,528,132 |
Kawasaki Kisen Kaisha Ltd. * | 85,208 | 5,955,497 |
Keihan Holdings Co., Ltd. | 109,923 | 2,920,463 |
Keikyu Corp. | 272,542 | 2,849,061 |
Keisei Electric Railway Co., Ltd. | 99,992 | 2,795,522 |
Keiyo Co., Ltd. | 95,034 | 735,188 |
KH Neochem Co., Ltd. | 40,302 | 989,573 |
Kintetsu World Express, Inc. | 71,592 | 1,867,888 |
Kissei Pharmaceutical Co., Ltd. | 38,905 | 819,817 |
Kitz Corp. | 222,522 | 1,267,414 |
Kobayashi Pharmaceutical Co., Ltd. | 26,670 | 2,273,926 |
Koei Tecmo Holdings Co., Ltd. | 14,057 | 485,145 |
Kohnan Shoji Co., Ltd. | 62,127 | 1,968,861 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Kokuyo Co., Ltd. | 170,634 | 2,382,283 |
Komeri Co., Ltd. | 76,791 | 1,882,855 |
Konami Holdings Corp. | 56,273 | 3,166,043 |
Kose Corp. | 18,285 | 2,084,498 |
Kumagai Gumi Co., Ltd. | 97,169 | 2,433,971 |
Kumiai Chemical Industry Co., Ltd. | 99,157 | 699,932 |
Kura Sushi, Inc. | 20,877 | 671,581 |
Kurabo Industries Ltd. | 81,003 | 1,342,607 |
Kureha Corp. | 30,289 | 2,416,808 |
Kurita Water Industries Ltd. | 86,892 | 3,545,842 |
Kusuri no Aoki Holdings Co., Ltd. | 13,900 | 813,423 |
KYB Corp. | 52,575 | 1,403,674 |
Kyoei Steel Ltd. | 87,211 | 1,200,926 |
KYORIN Holdings, Inc. | 76,654 | 1,246,563 |
Kyoritsu Maintenance Co., Ltd. | 27,572 | 1,017,417 |
Kyowa Kirin Co., Ltd. | 121,164 | 3,107,605 |
Kyudenko Corp. | 77,826 | 2,084,595 |
Kyushu Financial Group, Inc. | 400,262 | 1,431,803 |
Lawson, Inc. (a) | 68,314 | 2,847,034 |
Leopalace21 Corp. * | 959,593 | 1,699,648 |
Life Corp. | 41,994 | 1,108,416 |
Lintec Corp. | 102,824 | 2,284,581 |
Lion Corp. | 217,356 | 2,840,206 |
M3, Inc. | 21,946 | 813,436 |
Mabuchi Motor Co., Ltd. | 68,872 | 2,370,979 |
Macnica Fuji Electronics Holdings, Inc. | 131,680 | 3,059,481 |
Makino Milling Machine Co., Ltd. | 51,620 | 1,682,944 |
Mandom Corp. | 67,211 | 801,805 |
Maruha Nichiro Corp. | 142,107 | 3,103,096 |
Marui Group Co., Ltd. | 172,154 | 3,370,586 |
Maruichi Steel Tube Ltd. | 89,322 | 2,210,269 |
Max Co., Ltd. | 60,685 | 932,602 |
Maxell Holdings Ltd. | 119,865 | 1,227,010 |
MCJ Co., Ltd. | 93,896 | 819,323 |
Mebuki Financial Group, Inc. | 1,233,152 | 2,901,534 |
Megmilk Snow Brand Co., Ltd. | 163,411 | 2,884,433 |
Meidensha Corp. | 76,333 | 1,489,214 |
Meitec Corp. | 23,369 | 1,367,546 |
Menicon Co., Ltd. | 19,611 | 507,919 |
Ministop Co., Ltd. | 50,287 | 627,414 |
Mirait Holdings Corp. | 179,931 | 3,041,681 |
Mitsubishi HC Capital, Inc. | 615,613 | 3,201,669 |
Mitsubishi Logisnext Co., Ltd. | 134,917 | 1,089,410 |
Mitsubishi Logistics Corp. | 81,454 | 1,939,196 |
Mitsui E&S Holdings Co., Ltd. * | 303,132 | 900,118 |
Mitsui-Soko Holdings Co., Ltd. | 53,544 | 1,106,909 |
Miura Co., Ltd. | 36,369 | 989,944 |
Mixi, Inc. | 123,900 | 2,394,629 |
Mizuho Leasing Co., Ltd. | 30,201 | 815,499 |
Mizuno Corp. | 68,544 | 1,351,538 |
Modec, Inc. | 44,355 | 452,119 |
MonotaRO Co., Ltd. | 27,960 | 521,936 |
Morinaga & Co., Ltd. | 57,434 | 1,865,015 |
Morinaga Milk Industry Co., Ltd. | 75,796 | 3,790,623 |
MOS Food Services, Inc. | 26,674 | 705,208 |
Musashi Seimitsu Industry Co., Ltd. | 85,554 | 1,325,929 |
Nabtesco Corp. | 95,175 | 2,611,270 |
Nachi-Fujikoshi Corp. | 47,379 | 1,715,393 |
Nankai Electric Railway Co., Ltd. | 144,376 | 2,932,021 |
NEC Networks & System Integration Corp. | 70,998 | 1,082,461 |
NET One Systems Co., Ltd. | 53,109 | 1,292,507 |
Nexon Co., Ltd. | 129,363 | 2,794,488 |
Nichias Corp. | 96,779 | 2,182,202 |
Nichicon Corp. | 102,292 | 1,081,760 |
Nichiha Corp. | 50,724 | 1,135,372 |
Nichi-iko Pharmaceutical Co., Ltd. | 143,622 | 1,054,953 |
Nichireki Co., Ltd. | 51,262 | 573,707 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Nifco, Inc. | 101,982 | 2,895,430 |
Nihon Kohden Corp. | 76,271 | 2,059,499 |
Nihon M&A Center Holdings, Inc. | 24,738 | 357,189 |
Nihon Parkerizing Co., Ltd. | 144,913 | 1,240,584 |
Nihon Unisys Ltd. | 72,571 | 1,969,042 |
Nikkiso Co., Ltd. | 121,428 | 837,107 |
Nippn Corp. | 141,608 | 2,098,761 |
Nippo Corp. (a) | 83,194 | 2,878,473 |
Nippon Building Fund, Inc. | 261 | 1,491,105 |
Nippon Chemi-Con Corp. * | 43,400 | 682,040 |
Nippon Denko Co., Ltd. | 234,604 | 682,373 |
Nippon Densetsu Kogyo Co., Ltd. | 82,176 | 1,135,873 |
Nippon Gas Co., Ltd. | 110,169 | 1,653,850 |
Nippon Holdings Co., Ltd. | 116,901 | 2,222,819 |
Nippon Kayaku Co., Ltd. | 319,573 | 3,152,029 |
Nippon Koei Co., Ltd. | 30,290 | 806,068 |
Nippon Paint Holdings Co., Ltd. | 188,847 | 1,670,806 |
Nippon Prologis REIT, Inc. | 219 | 641,741 |
Nippon Sanso Holdings Corp. | 109,405 | 2,129,681 |
Nippon Sheet Glass Co., Ltd. * | 484,158 | 2,009,356 |
Nippon Shinyaku Co., Ltd. | 21,920 | 1,417,877 |
Nippon Signal Company Ltd. | 122,849 | 925,834 |
Nippon Soda Co., Ltd. | 57,708 | 1,688,526 |
Nippon Suisan Kaisha Ltd. | 761,001 | 3,594,396 |
Nippon Television Holdings, Inc. | 65,432 | 748,200 |
Nippon Thompson Co., Ltd. | 111,229 | 522,465 |
Nippon Yakin Kogyo Co., Ltd. | 43,646 | 1,070,923 |
Nipro Corp. | 217,465 | 2,063,723 |
Nishimatsu Construction Co., Ltd. | 102,957 | 3,419,236 |
Nishimatsuya Chain Co., Ltd. | 72,595 | 898,810 |
Nishi-Nippon Financial Holdings, Inc. | 257,879 | 1,847,191 |
Nishi-Nippon Railroad Co., Ltd. | 117,280 | 2,649,556 |
Nishio Rent All Co., Ltd. | 46,767 | 1,163,338 |
Nissan Chemical Corp. | 69,804 | 3,939,449 |
Nissha Co., Ltd. | 79,281 | 903,807 |
Nisshinbo Holdings, Inc. | 461,449 | 4,054,581 |
Nissin Electric Co., Ltd. | 77,466 | 977,279 |
Nitta Corp. | 33,101 | 796,953 |
Nittetsu Mining Co., Ltd. | 19,642 | 1,135,800 |
Nitto Boseki Co., Ltd. | 29,585 | 782,169 |
Nitto Kogyo Corp. | 63,282 | 885,701 |
Noevir Holdings Co., Ltd. | 12,764 | 572,953 |
NOF Corp. | 51,458 | 2,224,969 |
Nojima Corp. | 83,809 | 1,851,911 |
Nomura Co., Ltd. | 108,854 | 876,125 |
Nomura Real Estate Master Fund, Inc. | 904 | 1,191,467 |
Nomura Research Institute Ltd. | 101,983 | 3,519,708 |
North Pacific Bank Ltd. | 388,412 | 856,580 |
NS Solutions Corp. | 39,436 | 1,244,627 |
NSD Co., Ltd. | 53,867 | 1,005,081 |
Obic Co., Ltd. | 9,938 | 1,579,898 |
Ohsho Food Service Corp. | 11,836 | 621,730 |
Okamoto Industries, Inc. | 26,039 | 906,589 |
Okamura Corp. | 172,477 | 1,774,563 |
Okasan Securities Group, Inc. | 247,043 | 840,815 |
Oki Electric Industry Co., Ltd. | 325,711 | 2,386,803 |
OKUMA Corp. | 54,290 | 2,198,939 |
Okumura Corp. | 91,522 | 2,578,588 |
Okuwa Co., Ltd. (a) | 143,307 | 1,211,904 |
Onward Holdings Co., Ltd. | 590,630 | 1,420,486 |
Open House Group Co., Ltd. | 40,699 | 1,837,506 |
Oracle Corp. Japan | 15,006 | 1,063,156 |
Orient Corp. | 822,650 | 899,969 |
Orix JREIT, Inc. | 532 | 743,206 |
Osaka Soda Co., Ltd. | 43,040 | 1,173,394 |
OSG Corp. | 116,142 | 1,931,078 |
Outsourcing, Inc. | 79,723 | 974,604 |
Pacific Industrial Co., Ltd. | 117,152 | 1,032,423 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Paramount Bed Holdings Co., Ltd. | 55,602 | 975,177 |
Park24 Co., Ltd. * | 133,648 | 1,986,589 |
Pasona Group, Inc. | 29,733 | 647,453 |
Penta-Ocean Construction Co., Ltd. | 577,576 | 3,023,906 |
Pigeon Corp. | 71,282 | 1,310,834 |
Pilot Corp. | 47,264 | 1,932,828 |
Piolax, Inc. | 60,556 | 908,537 |
Plenus Co., Ltd. | 54,554 | 945,903 |
Pola Orbis Holdings, Inc. | 76,131 | 1,187,161 |
Press Kogyo Co., Ltd. | 578,682 | 1,874,091 |
Prima Meat Packers Ltd. | 71,031 | 1,493,085 |
Qol Holdings Co., Ltd. | 55,460 | 617,319 |
Raito Kogyo Co., Ltd. | 68,835 | 1,167,222 |
Raiznext Corp. | 106,312 | 1,050,428 |
Relia, Inc. | 79,776 | 730,053 |
Relo Group, Inc. | 55,116 | 818,306 |
Rengo Co., Ltd. | 500,393 | 3,736,384 |
Resorttrust, Inc. | 72,795 | 1,227,418 |
Restar Holdings Corp. | 79,514 | 1,366,944 |
Retail Partners Co., Ltd. (a) | 126,754 | 1,414,186 |
Rinnai Corp. | 36,594 | 2,992,971 |
Rohto Pharmaceutical Co., Ltd. | 80,568 | 2,696,676 |
Round One Corp. | 86,818 | 974,653 |
Royal Holdings Co., Ltd. * | 49,382 | 844,221 |
Ryobi Ltd. | 180,037 | 1,710,097 |
Ryosan Co., Ltd. | 121,000 | 2,447,840 |
Ryoyo Electro Corp. | 31,703 | 599,790 |
S Foods, Inc. | 49,759 | 1,427,858 |
Saibu Gas Holdings Co., Ltd. | 48,759 | 973,275 |
Saizeriya Co., Ltd. | 48,277 | 1,228,145 |
Sakata INX Corp. | 118,522 | 986,869 |
Sakata Seed Corp. | 23,925 | 701,080 |
SAMTY Co., Ltd. | 35,605 | 672,067 |
San-A Co., Ltd. | 38,477 | 1,424,827 |
Sanden Holdings Corp. * | 244,365 | 417,972 |
Sangetsu Corp. | 120,410 | 1,685,270 |
Sanken Electric Co., Ltd. | 25,822 | 1,165,829 |
Sanki Engineering Co., Ltd. | 122,727 | 1,590,896 |
Sankyo Co., Ltd. | 66,134 | 1,840,325 |
Sanoh Industrial Co., Ltd. | 65,504 | 399,252 |
Sanrio Co., Ltd. | 39,926 | 813,946 |
Sanwa Holdings Corp. | 321,971 | 3,578,232 |
Sanyo Chemical Industries Ltd. | 22,117 | 983,191 |
Sanyo Denki Co., Ltd. | 13,114 | 576,139 |
Sanyo Special Steel Co., Ltd. | 57,185 | 1,055,570 |
Sapporo Holdings Ltd. | 142,267 | 2,812,607 |
Sato Holdings Corp. | 41,501 | 731,830 |
Sawai Group Holdings Co., Ltd. | 58,603 | 2,322,750 |
SCREEN Holdings Co., Ltd. | 32,294 | 3,117,945 |
SCSK Corp. | 108,368 | 1,842,280 |
Sega Sammy Holdings, Inc. | 274,501 | 4,978,794 |
Seiko Holdings Corp. | 76,859 | 1,601,577 |
Seiren Co., Ltd. | 62,125 | 1,241,691 |
Sekisui Jushi Corp. | 38,708 | 643,929 |
Senko Group Holdings Co., Ltd. | 291,443 | 2,381,141 |
Senshu Ikeda Holdings, Inc. | 563,756 | 910,429 |
Seven Bank Ltd. | 803,145 | 1,715,421 |
Sharp Corp. | 165,027 | 1,551,762 |
Shibaura Machine Co., Ltd. | 39,946 | 1,061,296 |
Shibuya Corp. | 27,248 | 583,168 |
Shima Seiki Manufacturing Ltd. | 45,068 | 699,645 |
Shindengen Electric Manufacturing Co., Ltd. * | 22,985 | 586,524 |
Shinko Electric Industries Co., Ltd. | 37,276 | 1,559,977 |
Shinmaywa Industries Ltd. | 190,132 | 1,536,904 |
Shinsei Bank Ltd. | 75,598 | 1,421,708 |
Ship Healthcare Holdings, Inc. | 95,058 | 1,878,463 |
SHO-BOND Holdings Co., Ltd. | 22,315 | 993,931 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Shochiku Co., Ltd. * | 6,599 | 683,534 |
Shoei Foods Corp. | 21,023 | 770,281 |
Showa Sangyo Co., Ltd. | 65,506 | 1,559,518 |
Siix Corp. | 95,047 | 920,142 |
SKY Perfect JSAT Holdings, Inc. | 343,079 | 1,283,847 |
Skylark Holdings Co., Ltd. * | 282,056 | 3,690,544 |
Sodick Co., Ltd. | 79,198 | 532,915 |
Sohgo Security Services Co., Ltd. | 79,527 | 2,858,622 |
Sotetsu Holdings, Inc. | 116,664 | 2,208,183 |
Square Enix Holdings Co., Ltd. | 50,202 | 2,423,470 |
St Marc Holdings Co., Ltd. | 55,118 | 768,565 |
Star Micronics Co., Ltd. | 49,854 | 633,699 |
Starts Corp., Inc. | 48,926 | 1,102,773 |
Sugi Holdings Co., Ltd. | 42,379 | 2,391,695 |
Sumitomo Bakelite Co., Ltd. | 43,088 | 1,778,888 |
Sumitomo Dainippon Pharma Co., Ltd. | 169,500 | 1,858,724 |
Sumitomo Densetsu Co., Ltd. | 32,264 | 646,821 |
Sumitomo Mitsui Construction Co., Ltd. | 662,274 | 2,535,818 |
Sumitomo Osaka Cement Co., Ltd. | 117,792 | 3,502,823 |
Sundrug Co., Ltd. | 125,330 | 3,395,091 |
Suruga Bank Ltd. | 541,632 | 2,125,615 |
SWCC Showa Holdings Co., Ltd. | 44,792 | 731,917 |
Tadano Ltd. | 239,081 | 2,036,366 |
Taikisha Ltd. | 65,428 | 1,761,031 |
Taisho Pharmaceutical Holdings Co., Ltd. | 48,180 | 2,388,607 |
Taiyo Holdings Co., Ltd. | 26,001 | 691,930 |
Takara Holdings, Inc. | 196,447 | 1,946,134 |
Takara Leben Co., Ltd. | 236,698 | 645,306 |
Takara Standard Co., Ltd. | 114,464 | 1,353,592 |
Takasago Thermal Engineering Co., Ltd. | 140,134 | 2,354,324 |
Takeuchi Manufacturing Co., Ltd. | 50,323 | 1,120,716 |
Takuma Co., Ltd. | 80,906 | 1,022,081 |
Tamura Corp. | 147,278 | 769,797 |
Tanseisha Co., Ltd. | 80,338 | 511,289 |
TBS Holdings, Inc. | 64,461 | 1,041,002 |
TechnoPro Holdings, Inc. | 51,501 | 1,477,845 |
T-Gaia Corp. | 67,980 | 1,022,872 |
The 77 Bank Ltd. | 100,192 | 1,356,191 |
The Awa Bank Ltd. | 42,668 | 860,954 |
The Bank of Kyoto Ltd. | 35,122 | 1,564,366 |
The Chiba Bank Ltd. | 506,355 | 3,204,973 |
The Chugoku Bank Ltd. | 190,947 | 1,503,702 |
The Gunma Bank Ltd. | 630,243 | 2,095,794 |
The Hachijuni Bank Ltd. | 605,699 | 2,298,159 |
The Hyakugo Bank Ltd. | 240,376 | 740,903 |
The Iyo Bank Ltd. | 292,492 | 1,574,517 |
The Japan Steel Works Ltd. | 81,650 | 2,644,276 |
The Japan Wool Textile Co., Ltd. | 134,150 | 1,054,098 |
The Kiyo Bank Ltd. | 70,107 | 897,832 |
The Musashino Bank Ltd. | 52,695 | 869,290 |
The Nanto Bank Ltd. | 44,679 | 826,663 |
The Nisshin Oillio Group Ltd. | 80,352 | 2,131,325 |
The Ogaki Kyoritsu Bank Ltd. | 47,411 | 838,105 |
The Okinawa Electric Power Co., Inc. | 149,223 | 1,878,649 |
The San-in Godo Bank Ltd. | 215,612 | 1,272,986 |
The Shiga Bank Ltd. | 54,423 | 1,057,510 |
The Shizuoka Bank Ltd. | 411,444 | 3,054,349 |
The Sumitomo Warehouse Co., Ltd. | 95,861 | 1,772,815 |
THK Co., Ltd. | 138,500 | 3,150,597 |
TKC Corp. | 20,674 | 561,837 |
Toa Corp. (a) | 42,857 | 960,771 |
Toagosei Co., Ltd. | 225,780 | 2,142,631 |
Tocalo Co., Ltd. | 47,840 | 555,347 |
Toda Corp. | 443,337 | 2,956,222 |
Toei Co., Ltd. | 4,623 | 715,276 |
Toho Co., Ltd. | 80,427 | 3,341,378 |
Toho Zinc Co., Ltd. | 49,090 | 1,170,403 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Tokai Carbon Co., Ltd. | 190,437 | 1,820,457 |
TOKAI Holdings Corp. | 222,406 | 1,763,027 |
Tokai Rika Co., Ltd. | 221,095 | 2,925,537 |
Tokai Tokyo Financial Holdings, Inc. | 238,010 | 867,933 |
Token Corp. | 19,139 | 1,510,515 |
Tokuyama Corp. | 183,757 | 2,822,367 |
Tokyo Century Corp. | 41,618 | 1,821,183 |
Tokyo Ohka Kogyo Co., Ltd. | 25,433 | 1,598,740 |
Tokyo Seimitsu Co., Ltd. | 35,543 | 1,456,592 |
Tokyo Steel Manufacturing Co., Ltd. | 149,248 | 1,457,816 |
Tokyo Tatemono Co., Ltd. | 231,719 | 3,544,944 |
Tokyu Construction Co., Ltd. | 284,193 | 1,751,917 |
Tomy Co., Ltd. | 200,349 | 2,184,835 |
Topcon Corp. | 107,915 | 1,412,944 |
Toppan Forms Co., Ltd. *(a)(b) | 112,353 | 1,512,022 |
Topre Corp. | 177,917 | 1,838,257 |
Toshiba TEC Corp. | 38,268 | 1,619,766 |
Totetsu Kogyo Co., Ltd. | 64,598 | 1,407,218 |
Towa Pharmaceutical Co., Ltd. | 34,367 | 886,813 |
Toyo Construction Co., Ltd. | 207,865 | 1,079,256 |
Toyo Ink SC Holdings Co., Ltd. | 130,328 | 2,178,263 |
Toyo Tire Corp. | 191,356 | 2,523,723 |
Toyobo Co., Ltd. | 272,155 | 2,944,260 |
Toyota Boshoku Corp. | 211,545 | 3,849,779 |
TPR Co., Ltd. | 133,198 | 1,606,356 |
Trancom Co., Ltd. | 12,571 | 794,590 |
Transcosmos, Inc. | 49,144 | 1,348,340 |
Trend Micro, Inc. | 64,206 | 3,567,774 |
Trusco Nakayama Corp. | 61,202 | 1,335,365 |
TSI Holdings Co., Ltd. | 506,270 | 1,468,150 |
Tsubaki Nakashima Co., Ltd. | 59,977 | 506,687 |
Tsubakimoto Chain Co. | 102,260 | 2,916,641 |
Tsumura & Co. | 60,826 | 1,684,697 |
TV Asahi Holdings Corp. | 53,999 | 734,677 |
UACJ Corp. * | 101,520 | 2,073,150 |
Uchida Yoko Co., Ltd. | 18,334 | 757,715 |
Ulvac, Inc. | 55,505 | 2,727,661 |
Unipres Corp. | 365,351 | 2,442,546 |
United Arrows Ltd. | 94,336 | 1,395,690 |
United Super Markets Holdings, Inc. (a) | 268,600 | 2,472,030 |
United Urban Investment Corp. | 778 | 888,274 |
Unitika Ltd. * | 187,699 | 488,906 |
Ushio, Inc. | 143,097 | 2,314,649 |
USS Co., Ltd. | 122,967 | 2,032,812 |
V Technology Co., Ltd. | 14,546 | 431,297 |
Valor Holdings Co., Ltd. | 139,289 | 2,690,845 |
Valqua Ltd. | 30,045 | 706,419 |
VT Holdings Co., Ltd. | 227,434 | 969,569 |
Wacoal Holdings Corp. | 125,140 | 2,145,878 |
Wacom Co., Ltd. | 115,270 | 866,714 |
Wakita & Co., Ltd. | 99,488 | 859,480 |
Warabeya Nichiyo Holdings Co., Ltd. | 81,544 | 1,298,474 |
Welcia Holdings Co., Ltd. | 82,415 | 2,193,201 |
World Co., Ltd. * | 88,303 | 966,790 |
Xebio Holdings Co., Ltd. | 133,743 | 1,114,767 |
YAMABIKO Corp. | 88,317 | 1,019,853 |
Yamaguchi Financial Group, Inc. | 323,509 | 2,005,517 |
Yamato Kogyo Co., Ltd. | 48,778 | 1,562,759 |
Yamazen Corp. | 257,100 | 2,294,758 |
Yaoko Co., Ltd. | 29,230 | 1,667,385 |
Yellow Hat Ltd. | 67,779 | 958,057 |
Yokogawa Bridge Holdings Corp. | 55,591 | 1,014,563 |
Yokohama Reito Co., Ltd. | 118,972 | 903,846 |
Yondoshi Holdings, Inc. | 44,547 | 662,548 |
Yoshinoya Holdings Co., Ltd. (a) | 78,028 | 1,616,452 |
Yuasa Trading Co., Ltd. | 75,051 | 1,944,451 |
Zenkoku Hosho Co., Ltd. | 20,601 | 862,139 |
Zenrin Co., Ltd. | 61,109 | 590,530 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Zensho Holdings Co., Ltd. | 83,377 | 1,995,112 |
Zeon Corp. | 221,144 | 2,582,493 |
ZERIA Pharmaceutical Co., Ltd. | 38,914 | 669,993 |
Zojirushi Corp. | 53,732 | 676,461 |
ZOZO, Inc. | 21,898 | 617,916 |
886,647,955 | ||
Luxembourg 0.0% | ||
Espirito Santo Financial Group S.A. *(b) | 8,470 | 0 |
Netherlands 1.6% | ||
Accell Group N.V. * | 21,774 | 1,408,698 |
Adyen N.V. * | 493 | 1,032,389 |
AMG Advanced Metallurgical Group N.V. | 22,725 | 901,534 |
Arcadis N.V. | 63,854 | 2,914,735 |
ASM International N.V. | 8,369 | 2,709,099 |
BE Semiconductor Industries N.V. | 21,501 | 1,838,776 |
Boskalis Westminster | 121,675 | 3,520,501 |
Corbion N.V. | 37,368 | 1,381,710 |
Eurocommercial Properties N.V. | 53,648 | 1,336,510 |
Flow Traders | 15,917 | 549,212 |
Fugro N.V. CVA * | 105,659 | 1,018,242 |
Heijmans N.V. CVA | 41,482 | 635,523 |
IMCD N.V. | 15,175 | 2,466,349 |
Intertrust N.V. * | 82,599 | 1,792,418 |
JDE Peet's N.V. | 41,210 | 1,355,055 |
Koninklijke BAM Groep N.V. * | 796,634 | 2,244,107 |
Koninklijke Vopak N.V. | 62,388 | 2,315,253 |
OCI N.V. * | 55,219 | 1,569,157 |
PostNL N.V. | 415,433 | 1,669,547 |
SBM Offshore N.V. | 216,850 | 3,300,320 |
Sligro Food Group N.V. * | 81,066 | 2,071,464 |
TKH Group N.V. | 43,612 | 2,414,961 |
TomTom N.V. * | 76,175 | 637,848 |
Van Lanschot Kempen N.V. | 30,452 | 771,293 |
Wereldhave N.V. | 74,083 | 1,352,996 |
43,207,697 | ||
New Zealand 0.9% | ||
Air New Zealand Ltd. * | 2,422,594 | 2,451,037 |
Auckland International Airport Ltd. * | 366,296 | 1,764,982 |
Chorus Ltd. | 401,562 | 1,985,185 |
EBOS Group Ltd. | 103,983 | 2,742,337 |
Fisher & Paykel Healthcare Corp., Ltd. | 98,155 | 1,827,390 |
Freightways Ltd. | 92,595 | 763,243 |
Genesis Energy Ltd. | 648,546 | 1,209,179 |
Infratil Ltd. | 240,133 | 1,291,954 |
Mercury NZ Ltd. | 430,551 | 1,666,667 |
Meridian Energy Ltd. | 841,955 | 2,846,115 |
Ryman Healthcare Ltd. | 76,163 | 515,433 |
SKYCITY Entertainment Group Ltd. | 882,518 | 1,767,842 |
The a2 Milk Co., Ltd. * | 210,558 | 847,846 |
Z Energy Ltd. | 1,120,380 | 2,759,910 |
24,439,120 | ||
Norway 1.7% | ||
Aker A.S.A., A Shares | 22,203 | 1,841,907 |
Aker BP A.S.A. | 89,987 | 2,798,775 |
Aker Solutions A.S.A. * | 555,194 | 1,755,175 |
Austevoll Seafood A.S.A. | 132,930 | 1,883,527 |
Bakkafrost P/F | 19,002 | 1,294,366 |
Borregaard A.S.A. | 47,554 | 1,052,351 |
BW LPG Ltd. | 179,374 | 1,067,842 |
BW Offshore Ltd. | 236,873 | 749,921 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
DNO A.S.A. | 724,686 | 913,929 |
Elkem A.S.A. | 404,583 | 1,527,484 |
Entra A.S.A. | 55,840 | 1,184,282 |
Europris A.S.A. | 142,450 | 910,394 |
Fjordkraft Holding A.S.A. | 101,128 | 419,524 |
Frontline Ltd. * | 127,901 | 1,229,900 |
Gjensidige Forsikring A.S.A. | 105,763 | 2,620,727 |
Grieg Seafood A.S.A. * | 78,340 | 988,866 |
Kongsberg Automotive A.S.A. * | 3,092,734 | 959,088 |
Kongsberg Gruppen A.S.A. | 42,899 | 1,513,282 |
Leroy Seafood Group A.S.A. | 227,145 | 1,983,788 |
PGS A.S.A. * | 3,450,560 | 953,513 |
Salmar A.S.A. | 26,600 | 1,963,772 |
Schibsted A.S.A., A Shares | 16,309 | 469,593 |
Schibsted A.S.A., B Shares | 18,541 | 481,149 |
SpareBank 1 Nord Norge | 119,274 | 1,464,874 |
SpareBank 1 SMN | 117,286 | 1,939,284 |
SpareBank 1 SR-Bank A.S.A. | 118,463 | 1,762,062 |
Storebrand A.S.A. | 256,511 | 2,542,459 |
TGS Nopec Geophysical Co. A.S.A. | 194,625 | 2,177,833 |
Tomra Systems A.S.A. | 25,771 | 1,216,801 |
Veidekke A.S.A. | 131,571 | 2,037,831 |
XXL A.S.A. | 400,740 | 543,212 |
44,247,511 | ||
Poland 0.8% | ||
Alior Bank S.A. * | 190,768 | 2,136,821 |
Asseco Poland S.A. | 109,756 | 1,941,423 |
Bank Millennium S.A. * | 588,199 | 984,901 |
Cyfrowy Polsat S.A. | 335,271 | 2,181,445 |
Enea S.A. * | 1,071,374 | 2,248,515 |
Eurocash S.A. | 330,350 | 748,983 |
Jastrzebska Spolka Weglowa S.A. * | 166,982 | 1,964,588 |
LPP S.A. | 355 | 734,439 |
mBank S.A. * | 10,256 | 1,012,484 |
Orange Polska S.A. * | 1,389,972 | 2,588,235 |
Santander Bank Polska S.A. | 26,518 | 1,994,793 |
Tauron Polska Energia S.A. * | 4,066,471 | 2,414,513 |
20,951,140 | ||
Portugal 0.4% | ||
Banco Espirito Santo S.A. *(b) | 45,383 | 0 |
CTT-Correios de Portugal S.A. | 222,416 | 1,081,711 |
EDP Renovaveis S.A. | 45,853 | 1,118,626 |
Mota-Engil, SGPS, S.A. *(a) | 467,273 | 635,058 |
NOS, SGPS S.A. | 540,293 | 2,083,948 |
REN - Redes Energeticas Nacionais, SGPS, S.A. | 497,969 | 1,445,840 |
Sonae, SGPS, S.A. | 2,286,883 | 2,491,569 |
The Navigator Co. S.A. | 507,862 | 1,818,533 |
10,675,285 | ||
Republic of Korea 7.4% | ||
AJ Networks Co., Ltd. | 136,650 | 608,041 |
AK Holdings, Inc. | 37,858 | 665,943 |
AMOREPACIFIC Group | 50,486 | 2,049,085 |
Asiana Airlines, Inc. * | 92,102 | 1,466,922 |
BGF retail Co., Ltd. | 10,966 | 1,545,920 |
Binggrae Co., Ltd. * | 13,156 | 584,298 |
Celltrion, Inc. | 8,498 | 1,127,318 |
Cheil Worldwide, Inc. | 95,514 | 1,787,387 |
Chong Kun Dang Pharmaceutical Corp. * | 6,215 | 496,745 |
CJ CGV Co., Ltd. * | 30,951 | 665,433 |
CJ ENM Co., Ltd. | 14,418 | 1,558,897 |
CJ Logistics Corp. * | 12,298 | 1,268,310 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Com2uSCorp | 8,326 | 761,032 |
Daehan Flour Mill Co., Ltd. * | 5,027 | 700,314 |
Daesang Corp. * | 61,391 | 1,136,067 |
Daewoo Engineering & Construction Co., Ltd. * | 381,334 | 1,988,576 |
Daewoo Shipbuilding & Marine Engineering Co., Ltd. * | 96,199 | 2,120,242 |
Daou Technology, Inc. | 38,303 | 684,921 |
DB HiTek Co., Ltd. | 22,361 | 1,290,684 |
DGB Financial Group, Inc. | 344,832 | 2,718,848 |
DL Holdings Co., Ltd. | 39,759 | 1,997,292 |
Dongkuk Steel Mill Co., Ltd. | 204,203 | 2,802,303 |
Dongwon Industries Co., Ltd. | 3,436 | 600,125 |
Doosan Bobcat, Inc. | 38,860 | 1,233,010 |
Doosan Co., Ltd. * | 28,302 | 2,671,665 |
Doosan Heavy Industries & Construction Co., Ltd. * | 379,949 | 6,572,911 |
Easy Holdings Co., Ltd. * | 150,812 | 496,080 |
Fila Holdings Corp. | 45,361 | 1,327,989 |
Green Cross Corp. | 2,560 | 387,508 |
Green Cross Holdings Corp. | 22,662 | 420,312 |
GS Global Corp. * | 309,363 | 603,365 |
GS Retail Co., Ltd. | 103,920 | 2,294,736 |
Halla Holdings Corp. | 18,252 | 614,801 |
Handsome Co., Ltd. | 24,618 | 734,025 |
Hanjin Transportation Co., Ltd. * | 37,076 | 878,834 |
Hanmi Pharm Co., Ltd. * | 2,649 | 583,844 |
Hanon Systems | 137,556 | 1,321,389 |
Hansol Chemical Co., Ltd. | 2,519 | 449,391 |
Hansol Paper Co., Ltd. | 77,036 | 788,076 |
Hanssem Co., Ltd. | 9,766 | 592,937 |
Hanwha Aerospace Co., Ltd. | 44,851 | 1,939,745 |
Hanwha General Insurance Co., Ltd. * | 520,192 | 1,845,235 |
Hanwha Life Insurance Co., Ltd. * | 1,130,379 | 2,778,118 |
Harim Holdings Co., Ltd. | 140,492 | 1,215,218 |
HDC Holdings Co., Ltd. * | 107,676 | 684,197 |
HDC Hyundai Development Co-Engineering & Construction * | 109,015 | 1,455,226 |
Hite Jinro Co., Ltd. * | 31,532 | 933,621 |
HMM Co., Ltd. * | 48,892 | 1,173,148 |
Hotel Shilla Co., Ltd. | 30,479 | 2,040,637 |
HS Industries Co., Ltd. * | 108,928 | 480,158 |
Huchems Fine Chemical Corp. | 36,736 | 675,232 |
Hyosung Advanced Materials Corp. | 2,250 | 868,300 |
Hyosung Chemical Corp. * | 3,500 | 800,516 |
Hyosung Corp. | 14,485 | 1,024,015 |
Hyosung Heavy Industries Corp. * | 19,615 | 910,315 |
Hyosung TNC Corp. | 2,959 | 1,186,209 |
Hyundai Construction Equipment Co., Ltd. | 45,045 | 1,255,048 |
Hyundai Corp. | 63,658 | 878,881 |
Hyundai Department Store Co., Ltd. | 32,423 | 2,097,983 |
Hyundai Doosan Infracore Co., Ltd. * | 258,124 | 1,451,256 |
Hyundai Elevator Co., Ltd. * | 22,327 | 700,997 |
Hyundai Greenfood Co., Ltd. | 172,346 | 1,202,631 |
Hyundai Home Shopping Network Corp. | 13,059 | 633,210 |
Hyundai Mipo Dockyard Co., Ltd. | 30,275 | 2,009,353 |
Hyundai Wia Corp. | 52,736 | 2,675,507 |
Innocean Worldwide, Inc. | 12,984 | 539,943 |
Interpark Holdings Corp. | 141,658 | 692,768 |
INTOPS Co., Ltd. | 25,835 | 706,925 |
IS Dongseo Co., Ltd. * | 20,422 | 898,510 |
JB Financial Group Co., Ltd. | 287,793 | 1,967,529 |
Kakao Corp. | 16,192 | 1,267,241 |
Kangwon Land, Inc. * | 121,144 | 2,670,035 |
KCC Corp. | 7,959 | 2,194,376 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
KEPCO Plant Service & Engineering Co., Ltd. * | 37,376 | 1,150,174 |
KIWOOM Securities Co., Ltd. * | 6,190 | 522,548 |
Kolon Corp. | 33,246 | 804,640 |
Kolon Industries, Inc. | 47,185 | 2,299,697 |
Korea Aerospace Industries Ltd. * | 50,800 | 1,567,497 |
Korea Electric Terminal Co., Ltd. | 12,422 | 601,289 |
Korea Investment Holdings Co., Ltd. * | 25,777 | 1,697,957 |
Korea Petrochemical Ind Co., Ltd. * | 8,099 | 1,145,116 |
Korean Reinsurance Co. | 218,005 | 1,751,510 |
Kumho Petrochemical Co., Ltd. * | 18,856 | 2,517,061 |
Kumho Tire Co., Inc. * | 238,238 | 788,612 |
KUMHOE&C Co., Ltd. * | 65,354 | 584,319 |
Kwang Dong Pharmaceutical Co., Ltd. | 112,218 | 680,392 |
LF Corp. | 78,495 | 1,168,595 |
LG Hausys Ltd. | 23,949 | 1,095,517 |
LG HelloVision Co., Ltd. | 143,124 | 593,994 |
LG Innotek Co., Ltd. | 19,978 | 5,433,365 |
Lotte Chilsung Beverage Co., Ltd. | 6,331 | 866,178 |
Lotte Corp. | 30,574 | 738,699 |
LOTTE Fine Chemical Co., Ltd. | 27,617 | 1,821,456 |
Lotte Food Co., Ltd. | 2,040 | 531,908 |
LOTTE Himart Co., Ltd. | 83,523 | 1,611,622 |
LS Corp. | 63,558 | 2,574,354 |
LS Electric Co., Ltd. | 27,930 | 997,707 |
LX International Corp. | 121,657 | 2,989,948 |
Mando Corp. | 57,662 | 2,174,884 |
Meritz Financial Group, Inc. | 61,428 | 1,882,665 |
Meritz Fire & Marine Insurance Co., Ltd. | 156,189 | 5,339,018 |
Meritz Securities Co., Ltd. | 324,257 | 1,580,360 |
Mirae Asset Daewoo Co., Ltd. | 156,423 | 1,143,559 |
NCSoft Corp. | 4,200 | 1,549,216 |
Netmarble Corp. | 6,035 | 514,482 |
Nexen Tire Corp. * | 130,450 | 682,439 |
NH Investment & Securities Co., Ltd. * | 117,167 | 1,125,528 |
NHN Corp. * | 19,193 | 566,683 |
NICE Holdings Co., Ltd. | 44,792 | 622,137 |
NongShim Co., Ltd. | 6,380 | 1,629,026 |
OCI Co., Ltd. | 28,453 | 2,484,771 |
Orion Corp. | 18,258 | 1,389,451 |
Ottogi Corp. | 1,974 | 710,893 |
Pan Ocean Co., Ltd. | 215,904 | 1,179,764 |
Partron Co., Ltd. | 96,014 | 918,336 |
Poongsan Corp. | 68,702 | 1,817,045 |
S-1 Corp. | 25,992 | 1,508,913 |
Samsung Card Co., Ltd. | 58,933 | 1,575,827 |
Samsung Engineering Co., Ltd. * | 113,169 | 2,183,658 |
Samsung Heavy Industries Co., Ltd. * | 686,516 | 3,323,095 |
Samsung Securities Co., Ltd. | 44,616 | 1,569,640 |
SAMT Co., Ltd. | 200,850 | 686,567 |
Samyang Corp. | 12,315 | 528,510 |
Samyang Holdings Corp. | 16,507 | 1,140,876 |
Seah Besteel Corp. | 54,466 | 799,538 |
Sebang Global Battery Co., Ltd. | 11,844 | 626,505 |
Seohan Co., Ltd. * | 447,279 | 567,306 |
Seoul Semiconductor Co., Ltd. * | 58,892 | 651,444 |
Seoyon Co., Ltd. * | 59,633 | 580,285 |
Seoyon E-Hwa Co., Ltd. * | 103,445 | 593,646 |
SFA Engineering Corp. | 27,241 | 851,883 |
Shinsegae, Inc. | 13,392 | 2,912,636 |
SK Chemicals Co., Ltd. | 5,923 | 615,773 |
SK Discovery Co., Ltd. | 24,188 | 815,755 |
SK Gas Ltd. | 13,355 | 1,321,782 |
SK Networks Co., Ltd. | 813,627 | 2,984,235 |
SKC Co., Ltd. | 10,697 | 1,223,302 |
SL Corp. * | 25,309 | 498,876 |
SNT Motiv Co., Ltd. | 14,760 | 529,094 |
SSANGYONG C&E Co., Ltd. | 95,999 | 605,208 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Sungwoo Hitech Co., Ltd. | 279,280 | 1,118,421 |
Taekwang Industrial Co., Ltd. * | 2,641 | 2,229,480 |
Tongyang, Inc. * | 494,335 | 575,597 |
Unid Co., Ltd. | 7,873 | 566,403 |
WONIK IPS Co., Ltd. | 19,183 | 571,972 |
Young Poong Corp. * | 1,700 | 927,517 |
Youngone Corp. * | 50,653 | 1,790,454 |
Yuhan Corp. | 26,288 | 1,270,290 |
198,036,559 | ||
Singapore 1.6% | ||
Ascendas Real Estate Investment Trust | 1,121,667 | 2,288,863 |
Ascott Residence Trust | 1,309,070 | 993,290 |
CapitaLand Integrated Commercial Trust | 1,451,730 | 2,256,547 |
City Developments Ltd. | 580,631 | 3,045,484 |
First Resources Ltd. | 572,035 | 775,384 |
Genting Singapore Ltd. | 5,689,696 | 3,227,423 |
Golden Agri-Resources Ltd. | 23,555,685 | 4,945,575 |
Keppel Infrastructure Trust | 3,286,340 | 1,307,322 |
Mapletree Commercial Trust | 670,331 | 893,808 |
Mapletree Industrial Trust | 475,617 | 896,961 |
Mapletree Logistics Trust | 704,018 | 907,607 |
Mapletree North Asia Commercial Trust | 1,202,307 | 956,567 |
NetLink NBN Trust | 1,210,585 | 851,677 |
SATS Ltd. * | 588,107 | 1,719,978 |
Sembcorp Industries Ltd. | 1,313,887 | 2,429,450 |
Sembcorp Marine Ltd. * | 13,092,217 | 800,511 |
Singapore Exchange Ltd. | 320,119 | 2,202,594 |
Singapore Press Holdings Ltd. | 2,429,627 | 4,170,342 |
Singapore Technologies Engineering Ltd. | 1,188,716 | 3,345,166 |
StarHub Ltd. | 1,348,413 | 1,241,678 |
Suntec Real Estate Investment Trust | 897,342 | 1,070,901 |
UOL Group Ltd. | 362,742 | 1,865,217 |
42,192,345 | ||
Spain 1.4% | ||
Abengoa S.A., B Shares *(b) | 192,522,094 | 0 |
Acerinox S.A. | 291,443 | 3,733,414 |
Almirall S.A. | 45,089 | 594,560 |
Applus Services S.A. | 220,459 | 2,016,862 |
Atresmedia Corp de Medios de Comunicaion S.A. | 161,269 | 701,002 |
Cellnex Telecom S.A. | 27,478 | 1,254,285 |
Cia de Distribucion Integral Logista Holdings S.A. | 71,371 | 1,299,458 |
Cie Automotive S.A. | 47,524 | 1,277,893 |
Construcciones y Auxiliar de Ferrocarriles S.A. | 20,766 | 730,053 |
Ebro Foods S.A. | 116,450 | 2,163,377 |
Ence Energia y Celulosa S.A. * | 254,908 | 815,991 |
Faes Farma S.A. | 221,378 | 848,896 |
Gestamp Automocion S.A. | 419,830 | 1,740,975 |
Grupo Catalana Occidente S.A. | 49,223 | 1,597,803 |
Indra Sistemas S.A. * | 105,022 | 1,212,637 |
Inmobiliaria Colonial Socimi S.A. | 99,257 | 841,716 |
Mediaset Espana Comunicacion S.A. * | 364,068 | 1,874,495 |
Melia Hotels International S.A. * | 175,880 | 1,332,267 |
Merlin Properties Socimi S.A. | 162,961 | 1,834,040 |
Obrascon Huarte Lain S.A. * | 1,322,796 | 1,331,246 |
Prosegur Cash S.A. | 828,340 | 630,806 |
Prosegur Cia de Seguridad S.A. | 653,830 | 1,574,515 |
Sacyr S.A. | 641,403 | 1,508,568 |
Siemens Gamesa Renewable Energy S.A. * | 89,358 | 2,080,607 |
Tecnicas Reunidas S.A. *(a) | 79,154 | 651,235 |
Unicaja Banco S.A. | 2,272,466 | 2,140,217 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Viscofan S.A. | 30,406 | 1,888,607 |
Zardoya Otis S.A. | 151,531 | 1,196,504 |
38,872,029 | ||
Sweden 2.9% | ||
AAK AB | 105,143 | 1,926,690 |
AddTech AB, B Shares | 46,533 | 774,054 |
AFRY AB | 59,598 | 1,145,460 |
Arjo AB, B Shares | 104,956 | 908,532 |
Attendo AB * | 180,014 | 616,055 |
Axfood AB | 95,206 | 2,509,721 |
Beijer Ref AB | 51,443 | 783,238 |
Betsson AB, B Shares * | 169,146 | 1,011,664 |
Bilia AB, A Shares | 100,293 | 1,315,534 |
BillerudKorsnas AB | 180,307 | 2,551,334 |
Bonava AB, B Shares | 138,891 | 998,469 |
Bravida Holding AB | 130,346 | 1,597,872 |
Castellum AB | 128,965 | 2,891,335 |
Clas Ohlson AB, B Shares | 70,660 | 797,323 |
Cloetta AB, B Shares | 293,148 | 740,464 |
Concentric AB | 27,836 | 632,623 |
Coor Service Management Holding AB | 107,417 | 830,251 |
Dometic Group AB | 182,500 | 1,779,714 |
Dustin Group AB | 59,797 | 516,988 |
Electrolux Professional AB, B Shares * | 119,810 | 698,813 |
Elekta AB, B Shares (a) | 146,003 | 1,273,129 |
Evolution AB | 4,513 | 526,362 |
Fabege AB | 70,387 | 1,058,989 |
Fastighets AB Balder, B Shares * | 14,087 | 885,382 |
Fingerprint Cards AB, B Shares * | 241,055 | 426,396 |
Getinge AB, B Shares | 90,012 | 3,534,408 |
Granges AB | 118,489 | 1,279,272 |
Hexpol AB | 191,655 | 1,990,018 |
Holmen AB, B Shares | 62,530 | 3,097,945 |
Indutrade AB | 70,421 | 1,578,060 |
International Petroleum Corp. * | 192,931 | 1,367,537 |
Intrum AB | 53,114 | 1,370,310 |
Inwido AB | 46,852 | 730,713 |
JM AB | 69,315 | 2,167,241 |
Kinnevik AB, B Shares * | 74,245 | 1,912,331 |
L E Lundbergfortagen AB, B Shares | 37,103 | 1,811,475 |
Lifco AB, B Shares | 42,002 | 964,806 |
Lindab International AB | 45,535 | 1,099,996 |
Loomis AB | 109,684 | 3,104,045 |
Mekonomen AB * | 43,920 | 545,847 |
Modern Times Group MTG AB, B Shares * | 49,505 | 642,534 |
Mycronic AB | 25,634 | 493,766 |
NCC AB, B Shares | 116,537 | 1,645,905 |
Nibe Industrier AB, B Shares | 180,195 | 1,621,301 |
Nobia AB | 215,336 | 953,682 |
Nolato AB, B Shares | 71,319 | 678,567 |
Nordic Entertainment Group AB, B Shares * | 16,647 | 571,115 |
Pandox AB * | 59,214 | 871,440 |
Peab AB, B Shares | 248,901 | 2,428,830 |
Ratos AB, B Shares | 310,138 | 1,665,995 |
Resurs Holding AB | 175,598 | 509,406 |
Saab AB, B Shares | 99,728 | 3,023,053 |
SAS AB *(a) | 7,491,015 | 759,086 |
Scandic Hotels Group AB *(a) | 311,509 | 1,395,127 |
Solid Forsakring AB * | 16,196 | 83,123 |
Sweco AB, B Shares | 83,415 | 1,177,224 |
Swedish Orphan Biovitrum AB * | 56,958 | 1,173,474 |
Tethys Oil AB | 97,753 | 701,180 |
Thule Group AB | 31,093 | 1,236,710 |
Wallenstam AB, B Shares | 39,387 | 581,737 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Wihlborgs Fastigheter AB | 44,515 | 885,753 |
78,849,404 | ||
Switzerland 3.2% | ||
Allreal Holding AG | 9,443 | 2,048,239 |
ALSO Holding AG * | 3,676 | 989,669 |
ams-OSRAM AG * | 101,718 | 1,589,881 |
Arbonia AG | 52,634 | 1,167,477 |
Aryzta AG * | 2,202,587 | 2,511,206 |
Autoneum Holding AG * | 6,708 | 1,117,939 |
Banque Cantonale Vaudoise | 14,874 | 1,272,668 |
Belimo Holding AG | 2,892 | 1,538,281 |
BKW AG | 13,220 | 1,668,621 |
Bobst Group S.A. * | 9,309 | 848,256 |
Bucher Industries AG | 5,287 | 2,350,034 |
Burckhardt Compression Holding AG | 1,887 | 929,668 |
Bystronic AG | 1,181 | 1,377,372 |
Cembra Money Bank AG | 21,287 | 1,471,029 |
Daetwyler Holding AG | 2,845 | 981,462 |
dormakaba Holding AG | 2,306 | 1,276,852 |
Emmi AG | 1,566 | 1,828,095 |
EMS-Chemie Holding AG | 2,598 | 2,572,656 |
Flughafen Zuerich AG * | 14,276 | 2,567,486 |
Forbo Holding AG | 782 | 1,343,323 |
Galenica AG | 52,139 | 3,682,606 |
GAM Holding AG * | 902,828 | 1,129,704 |
Helvetia Holding AG | 33,547 | 4,088,021 |
Huber & Suhner AG | 16,895 | 1,629,743 |
Implenia AG * | 54,414 | 1,367,690 |
Inficon Holding AG | 680 | 801,962 |
Interroll Holding AG | 156 | 579,824 |
Komax Holding AG * | 2,682 | 708,613 |
Landis & Gyr Group AG * | 31,805 | 2,078,271 |
Logitech International S.A. | 38,697 | 2,906,124 |
Medmix AG * | 19,544 | 723,434 |
Mobimo Holding AG * | 3,278 | 1,100,468 |
OC Oerlikon Corp. AG | 198,207 | 1,771,538 |
PSP Swiss Property AG | 12,564 | 1,626,904 |
Rieter Holding AG * | 4,906 | 873,770 |
Schweiter Technologies AG | 861 | 1,114,903 |
SFS Group AG | 12,348 | 1,811,587 |
Siegfried Holding AG * | 1,244 | 939,661 |
SIG Combibloc Group AG * | 148,983 | 3,358,187 |
Softwareone Holding AG * | 49,830 | 903,778 |
St. Galler Kantonalbank AG | 1,513 | 742,111 |
Stadler Rail AG (a) | 28,224 | 1,089,029 |
Straumann Holding AG | 1,201 | 1,910,578 |
Sulzer AG | 17,549 | 1,483,378 |
Tecan Group AG | 2,298 | 996,397 |
Temenos AG | 10,189 | 1,028,617 |
u-blox Holding AG * | 10,528 | 746,467 |
Valiant Holding AG | 12,187 | 1,268,580 |
Valora Holding AG * | 7,827 | 1,550,982 |
VAT Group AG | 4,676 | 1,775,703 |
Vetropack Holding AG | 14,624 | 745,984 |
Vifor Pharma AG | 28,976 | 5,089,631 |
Vontobel Holding AG | 14,985 | 1,187,432 |
Zehnder Group AG | 8,248 | 712,918 |
Zur Rose Group AG * | 1,550 | 271,328 |
85,246,137 | ||
United Kingdom 9.9% | ||
4imprint Group plc | 19,331 | 702,903 |
888 Holdings plc | 146,312 | 475,473 |
AG Barr plc | 91,761 | 636,532 |
Airtel Africa plc | 1,572,632 | 2,998,424 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Ascential plc * | 168,600 | 741,546 |
Ashmore Group plc | 254,621 | 860,927 |
Auto Trader Group plc | 165,388 | 1,471,260 |
Avast plc | 134,450 | 1,133,984 |
AVEVA Group plc | 15,774 | 527,003 |
B&M European Value Retail S.A. | 475,748 | 3,864,481 |
Babcock International Group plc * | 911,749 | 4,049,255 |
Bank of Georgia Group plc | 45,369 | 802,318 |
Beazley plc | 534,653 | 3,232,474 |
Biffa plc | 250,084 | 1,090,539 |
Big Yellow Group plc | 40,790 | 774,430 |
Bodycote plc | 210,998 | 2,110,560 |
Brewin Dolphin Holdings plc | 229,658 | 910,565 |
Britvic plc | 208,305 | 2,378,488 |
C&C Group plc * | 392,430 | 1,109,953 |
Capita plc * | 3,452,472 | 1,297,060 |
Card Factory plc * | 2,137,352 | 1,415,256 |
Centamin plc | 1,816,044 | 2,417,185 |
Chemring Group plc | 203,654 | 845,718 |
Cineworld Group plc *(a) | 3,802,044 | 2,046,169 |
Clarkson plc | 16,409 | 728,756 |
Close Brothers Group plc | 145,148 | 2,280,551 |
Coats Group plc | 1,534,932 | 1,262,471 |
Computacenter plc | 55,528 | 2,032,489 |
ConvaTec Group plc | 889,158 | 2,150,433 |
Costain Group plc * | 1,477,002 | 868,014 |
Countryside Properties plc * | 320,088 | 1,306,473 |
Cranswick plc | 54,200 | 2,556,936 |
Crest Nicholson Holdings plc | 526,789 | 2,181,245 |
De La Rue plc * | 314,430 | 481,795 |
Dechra Pharmaceuticals plc | 13,222 | 730,559 |
Derwent London plc | 29,777 | 1,216,179 |
Diploma plc | 31,777 | 1,140,108 |
Domino's Pizza Group plc | 182,936 | 895,909 |
Dunelm Group plc | 61,235 | 985,124 |
Electrocomponents plc | 193,853 | 2,573,713 |
Elementis plc * | 770,418 | 1,333,484 |
Endeavour Mining plc | 42,499 | 1,134,759 |
Entain plc * | 152,093 | 3,436,553 |
Essentra plc | 472,018 | 1,934,824 |
Euromoney Institutional Investor plc | 95,920 | 1,167,315 |
Ferrexpo plc | 366,682 | 831,473 |
Flutter Entertainment plc * | 22,052 | 3,194,055 |
Forterra plc | 229,547 | 737,648 |
Frasers Group plc * | 211,016 | 1,802,128 |
Fresnillo plc | 132,913 | 1,281,523 |
Games Workshop Group plc | 7,208 | 722,932 |
Genuit Group plc | 122,516 | 840,012 |
Genus plc | 13,267 | 583,873 |
Grafton Group plc | 243,001 | 3,534,347 |
Grainger plc | 270,053 | 1,021,085 |
Great Portland Estates plc | 127,728 | 1,166,235 |
Greencore Group plc * | 837,848 | 1,501,909 |
Greggs plc | 61,688 | 2,131,325 |
Halfords Group plc | 408,599 | 1,524,101 |
Halma plc | 86,700 | 2,804,711 |
Hammerson plc (a) | 1,832,953 | 910,211 |
Harbour Energy plc * | 494,291 | 2,640,923 |
Hargreaves Lansdown plc | 103,512 | 1,575,676 |
Hikma Pharmaceuticals plc | 91,978 | 2,570,662 |
Hill & Smith Holdings plc | 54,902 | 1,038,674 |
Hilton Food Group plc | 59,013 | 850,401 |
Hiscox Ltd. | 236,980 | 2,931,029 |
Hochschild Mining plc | 339,493 | 528,853 |
HomeServe plc | 147,497 | 1,332,885 |
Howden Joinery Group plc | 346,550 | 3,967,241 |
Hunting plc | 351,879 | 1,104,793 |
Ibstock plc | 526,527 | 1,261,045 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
IG Group Holdings plc | 314,620 | 3,299,036 |
IMI plc | 177,460 | 3,483,506 |
Indivior plc * | 636,050 | 2,396,405 |
Intermediate Capital Group plc | 84,687 | 1,947,598 |
Intu Properties plc *(a)(b) | 11,806,310 | 0 |
Investec plc | 273,669 | 1,499,259 |
IWG plc * | 699,941 | 2,630,549 |
J.D. Sports Fashion plc | 842,409 | 1,706,757 |
J.D. Wetherspoon plc * | 93,277 | 1,096,353 |
John Menzies plc * | 194,148 | 1,466,605 |
Jupiter Fund Management plc | 584,146 | 1,645,934 |
Just Group plc * | 1,826,515 | 2,059,836 |
Kier Group plc * | 1,780,644 | 2,221,937 |
Lancashire Holdings Ltd. | 185,452 | 1,173,981 |
Man Group plc | 1,540,426 | 3,989,054 |
Marshalls plc | 108,050 | 926,398 |
Marston's plc * | 1,709,694 | 1,788,160 |
Mediclinic International plc * | 549,084 | 2,423,854 |
Mitchells & Butlers plc * | 520,824 | 1,661,784 |
Moneysupermarket.com Group plc | 499,004 | 1,399,336 |
Morgan Advanced Materials plc | 349,572 | 1,425,877 |
Morgan Sindall Group plc | 64,695 | 2,013,866 |
National Express Group plc * | 982,815 | 3,149,038 |
NewRiver REIT plc | 637,499 | 758,708 |
Ocado Group plc * | 40,038 | 737,589 |
OSB Group plc | 192,784 | 1,294,634 |
Oxford Instruments plc | 22,769 | 814,166 |
Pagegroup plc | 357,585 | 2,753,994 |
Paragon Banking Group plc | 202,913 | 1,376,267 |
PayPoint plc | 93,500 | 748,958 |
Petrofac Ltd. * | 1,607,154 | 2,300,879 |
Petropavlovsk plc * | 2,938,613 | 315,431 |
Pets at Home Group plc | 356,562 | 1,745,266 |
Phoenix Group Holdings plc | 295,042 | 2,448,869 |
Playtech plc * | 427,651 | 3,827,252 |
Plus500 Ltd. | 117,750 | 2,204,766 |
Premier Foods plc | 853,777 | 1,257,820 |
Provident Financial plc * | 670,237 | 2,607,944 |
PZ Cussons plc | 202,954 | 573,220 |
QinetiQ Group plc | 553,628 | 2,172,037 |
Quilter plc | 404,595 | 704,097 |
Rathbone Brothers plc | 32,127 | 713,842 |
Reach plc | 287,145 | 876,505 |
Redde Northgate plc | 471,527 | 2,394,662 |
Redrow plc | 350,865 | 2,717,304 |
Renishaw plc | 13,853 | 873,230 |
Rhi Magnesita N.V. | 28,273 | 1,055,360 |
Rightmove plc | 137,181 | 1,238,006 |
Rotork plc | 479,185 | 1,984,134 |
Sabre Insurance Group plc | 270,879 | 755,980 |
Safestore Holdings plc | 55,162 | 942,194 |
Saga plc * | 422,457 | 1,592,798 |
Savills plc | 117,957 | 2,014,763 |
Schroders plc | 64,386 | 2,646,988 |
Segro plc | 152,563 | 2,664,190 |
Senior plc * | 1,196,871 | 2,253,081 |
Serco Group plc | 1,127,067 | 2,011,283 |
SIG plc * | 1,878,818 | 984,666 |
Softcat plc | 30,923 | 646,429 |
Spectris plc | 83,154 | 3,130,708 |
Spirax-Sarco Engineering plc | 16,228 | 2,600,896 |
Spirent Communications plc | 268,672 | 875,993 |
SSP Group plc * | 871,930 | 3,265,226 |
St. James's Place plc | 198,309 | 3,734,450 |
Stagecoach Group plc * | 1,217,014 | 1,404,319 |
SThree plc | 197,851 | 1,168,053 |
Superdry plc * | 184,367 | 485,349 |
Synthomer plc | 269,258 | 1,036,143 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
TBC Bank Group plc | 42,721 | 688,998 |
Ted Baker plc * | 347,548 | 482,178 |
Telecom Plus plc | 74,924 | 1,457,675 |
The British Land Co., plc | 564,688 | 4,012,623 |
The Go-Ahead Group plc * | 206,328 | 1,840,991 |
The Restaurant Group plc * | 793,321 | 1,043,150 |
The Unite Group plc | 55,302 | 792,472 |
The Weir Group plc | 142,085 | 3,016,920 |
TP ICAP Group plc | 736,326 | 1,184,571 |
Tritax Big Box REIT plc | 252,902 | 798,786 |
Tullow Oil plc * | 1,466,370 | 1,057,336 |
Tyman plc | 208,064 | 960,345 |
Ultra Electronics Holdings plc | 50,630 | 2,180,644 |
Vesuvius plc | 348,879 | 1,853,710 |
Victrex plc | 56,065 | 1,465,388 |
Virgin Money UK plc | 293,329 | 732,835 |
Vistry Group plc | 205,043 | 2,756,668 |
WH Smith plc * | 114,554 | 2,498,441 |
Wizz Air Holdings plc * | 18,244 | 833,262 |
Workspace Group plc | 64,856 | 673,104 |
265,123,612 | ||
Total Common Stocks (Cost $2,408,386,347) | 2,661,940,592 | |
PREFERRED STOCKS 0.3% OF NET ASSETS | ||
Germany 0.2% | ||
Draegerwerk AG & Co. KGaA | 21,946 | 1,255,905 |
Jungheinrich AG | 44,491 | 1,628,098 |
Sartorius AG | 2,281 | 1,009,949 |
Schaeffler AG | 239,209 | 1,614,765 |
Sixt SE | 16,095 | 1,314,264 |
6,822,981 | ||
Italy 0.1% | ||
Danieli & C Officine Meccaniche S.p.A. - RSP | 102,919 | 1,629,941 |
Republic of Korea 0.0% | ||
Mirae Asset Securities Co., Ltd. | 44,574 | 165,899 |
Total Preferred Stocks (Cost $8,539,825) | 8,618,821 | |
RIGHTS 0.0% OF NET ASSETS | ||
Italy 0.0% | ||
Banca Popolare di Sondrio Scarl | ||
expires 03/07/22, strike EUR 3.75 *(b) | 637,506 | 4 |
Total Rights (Cost $0) | 4 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
WARRANTS 0.0% OF NET ASSETS | ||
Italy 0.0% | ||
Webuild S.p.A. | ||
expires 08/02/30 *(a)(b) | 37,091 | 70,240 |
Total Warrants (Cost $0) | 70,240 |
SHORT-TERM INVESTMENTS 2.0% OF NET ASSETS | ||
Money Market Funds 2.0% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (c) | 4,427,619 | 4,427,619 |
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (c)(d) | 47,323,459 | 47,323,459 |
51,751,078 | ||
Total Short-Term Investments (Cost $51,751,078) | 51,751,078 | |
Total Investments in Securities (Cost $2,468,677,250) | 2,722,380,735 |
NUMBER OF CONTRACTS | NOTIONAL AMOUNT ($) | CURRENT VALUE/ UNREALIZED DEPRECIATION ($) | |
FUTURES CONTRACTS | |||
Long | |||
MSCI EAFE Index, expires 03/18/22 | 177 | 19,114,230 | (824,453) |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $44,426,343. |
(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. |
(d) | Security purchased with cash collateral received for securities on loan. |
CVA — | Dutch Certificate |
REIT — | Real Estate Investment Trust |
RSP — | Risparmio (Savings Shares) |
EUR — | Euro |
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 Stocks1 | $1,361,710,909 | $— | $— | $1,361,710,909 |
Hong Kong | 98,910,802 | — | 0* | 98,910,802 |
Japan | 885,135,933 | — | 1,512,022 | 886,647,955 |
Luxembourg | — | — | 0* | 0 |
Portugal | 10,675,285 | — | 0* | 10,675,285 |
Spain | 38,872,029 | — | 0* | 38,872,029 |
United Kingdom | 265,123,612 | — | 0* | 265,123,612 |
Preferred Stocks1 | 8,618,821 | — | — | 8,618,821 |
Rights 1 | ||||
Italy | — | — | 4 | 4 |
Warrants 1 | ||||
Italy | — | — | 70,240 | 70,240 |
Short-Term Investments1 | 51,751,078 | — | — | 51,751,078 |
Liabilities | ||||
Futures Contracts2 | (824,453) | — | — | (824,453) |
Total | $2,719,974,016 | $— | $1,582,266 | $2,721,556,282 |
* | Level 3 amount shown includes securities determined to have no value at February 28, 2022. |
1 | As categorized in the Portfolio Holdings. |
2 | Futures contracts are reported at cumulative unrealized appreciation or depreciation. |
Assets | ||
Investments in securities, at value - unaffiliated (cost $2,468,677,250) including securities on loan of $44,426,343 | $2,722,380,735 | |
Foreign currency, at value (cost $709,432) | 707,545 | |
Deposit with broker for futures contracts | 833,775 | |
Receivables: | ||
Dividends | 6,241,852 | |
Investments sold | 2,794,108 | |
Foreign tax reclaims | 1,323,134 | |
Income from securities on loan | + | 149,764 |
Total assets | 2,734,430,913 | |
Liabilities | ||
Collateral held for securities on loan | 47,323,459 | |
Payables: | ||
Management fees | 803,814 | |
Variation margin on futures contracts | + | 349,951 |
Total liabilities | 48,477,224 | |
Net assets | $2,685,953,689 | |
Net Assets by Source | ||
Capital received from investors | $2,617,476,452 | |
Total distributable earnings | + | 68,477,237 |
Net assets | $2,685,953,689 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$2,685,953,689 | 74,900,000 | $35.86 | ||
For the period March 1, 2021 through February 28, 2022 | ||
Investment Income | ||
Dividends received from securities - unaffiliated (net of foreign withholding tax of $7,234,632) | $59,231,171 | |
Securities on loan, net | + | 2,038,612 |
Total investment income | 61,269,783 | |
Expenses | ||
Management fees | 10,413,381 | |
Professional fees | + | 4,588* |
Total expenses | 10,417,969 | |
Expense reduction by investment adviser | – | 4,588* |
Net expenses | – | 10,413,381 |
Net investment income | 50,856,402 | |
REALIZED AND UNREALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - unaffiliated | 5,277,972 | |
Net realized gains on sales of in-kind redemptions - unaffiliated | 55,418,944 | |
Net realized gains on futures contracts | 490,813 | |
Net realized losses on foreign currency transactions | + | (279,973) |
Net realized gains | 60,907,756 | |
Net change in unrealized appreciation (depreciation) on securities - unaffiliated | (88,560,194) | |
Net change in unrealized appreciation (depreciation) on futures contracts | (622,338) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | (33,075) |
Net change in unrealized appreciation (depreciation) | + | (89,215,607) |
Net realized and unrealized losses | (28,307,851) | |
Increase in net assets resulting from operations | $22,548,551 |
* | 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 | |||
3/1/21-2/28/22 | 3/1/20-2/28/21 | ||
Net investment income | $50,856,402 | $33,663,568 | |
Net realized gains (losses) | 60,907,756 | (13,565,450) | |
Net change in unrealized appreciation (depreciation) | + | (89,215,607) | 487,117,080 |
Increase in net assets resulting from operations | $22,548,551 | $507,215,198 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Total distributions | ($68,417,380) | ($38,178,680) |
TRANSACTIONS IN FUND SHARES | |||||
3/1/21-2/28/22 | 3/1/20-2/28/21 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 13,600,000 | $522,848,782 | 5,400,000 | $162,294,485 | |
Shares redeemed | + | (2,200,000) | (83,941,621) | (8,500,000) | (238,718,494) |
Net transactions in fund shares | 11,400,000 | $438,907,161 | (3,100,000) | ($76,424,009) | |
SHARES OUTSTANDING AND NET ASSETS | |||||
3/1/21-2/28/22 | 3/1/20-2/28/21 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 63,500,000 | $2,292,915,357 | 66,600,000 | $1,900,302,848 | |
Total increase (decrease) | + | 11,400,000 | 393,038,332 | (3,100,000) | 392,612,509 |
End of period | 74,900,000 | $2,685,953,689 | 63,500,000 | $2,292,915,357 |
3/1/21– 2/28/22 | 3/1/20– 2/28/21 | 3/1/19– 2/29/20 | 3/1/18– 2/28/19 | 3/1/17– 2/28/18 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $29.64 | $25.54 | $28.08 | $31.22 | $26.06 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 1.36 | 0.79 | 1.02 | 0.85 | 0.71 | |
Net realized and unrealized gains (losses) | (0.41) | 4.02 | (2.53) | (3.20) | 5.06 | |
Total from investment operations | 0.95 | 4.81 | (1.51) | (2.35) | 5.77 | |
Less distributions: | ||||||
Distributions from net investment income | (1.34) | (0.71) | (1.03) | (0.79) | (0.61) | |
Net asset value at end of period | $29.25 | $29.64 | $25.54 | $28.08 | $31.22 | |
Total return | 2.97% | 19.12% | (5.74%) | (7.36%) | 22.32% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Total expenses | 0.39% | 0.39% | 0.39% | 0.39% | 0.39% | |
Net investment income (loss) | 4.29% | 3.11% | 3.61% | 2.99% | 2.48% | |
Portfolio turnover rate2 | 20% | 25% | 32% | 33% | 14% | |
Net assets, end of period (x 1,000) | $4,825,566 | $3,805,524 | $2,574,297 | $2,341,576 | $2,200,763 |
1 | Calculated based on the average shares outstanding during the period. |
2 | Portfolio turnover rate excludes securities received or delivered from processing of in-kind creations or redemptions. |
SECURITY | NUMBER OF SHARES | VALUE ($) |
COMMON STOCKS 94.4% OF NET ASSETS | ||
Brazil 7.0% | ||
Ambev S.A. | 6,027,825 | 17,784,991 |
B3 S.A. - Brasil Bolsa Balcao | 2,612,847 | 7,394,706 |
Banco Bradesco S.A. | 3,175,885 | 10,517,033 |
Banco do Brasil S.A. | 4,257,244 | 29,096,718 |
BRF S.A. * | 1,746,461 | 5,664,802 |
CCR S.A. | 2,763,159 | 6,307,578 |
Centrais Eletricas Brasileiras S.A. | 828,719 | 5,593,214 |
Cia Brasileira de Distribuicao | 491,995 | 2,225,185 |
Cia de Saneamento Basico do Estado de Sao Paulo | 992,589 | 7,978,553 |
Cia Energetica de Minas Gerais | 578,261 | 1,911,560 |
Cielo S.A. | 9,784,112 | 4,880,946 |
Cogna Educacao * | 9,927,819 | 4,355,236 |
Embraer S.A. * | 1,739,645 | 5,943,233 |
IRB Brasil Resseguros S.A. * | 6,888,950 | 4,091,889 |
Itau Unibanco Holding S.A. | 1,265,482 | 5,362,399 |
JBS S.A. | 3,007,653 | 20,953,213 |
Petroleo Brasileiro S.A. | 11,654,912 | 82,281,412 |
Sendas Distribuidora S.A. | 1,154,268 | 3,015,790 |
Suzano S.A. | 505,741 | 5,406,207 |
Telefonica Brasil S.A. | 880,383 | 8,573,639 |
TIM S.A. | 2,396,517 | 6,331,230 |
Ultrapar Participacoes S.A. | 5,179,175 | 14,888,985 |
Vale S.A. | 3,558,467 | 63,741,160 |
Vibra Energia S.A. | 3,225,017 | 14,767,582 |
339,067,261 | ||
Chile 0.8% | ||
Banco de Chile | 59,381,619 | 6,334,139 |
Cencosud S.A. | 5,301,863 | 9,805,912 |
Empresas CMPC S.A. | 2,405,008 | 3,995,436 |
Empresas COPEC S.A. | 1,185,484 | 9,247,610 |
Enel Americas S.A. | 53,470,879 | 6,290,296 |
Falabella S.A. | 1,494,209 | 4,944,350 |
40,617,743 | ||
China 28.2% | ||
Agile Group Holdings Ltd. (a) | 5,991,717 | 2,729,886 |
Agricultural Bank of China Ltd., A Shares | 22,749,400 | 10,743,774 |
Agricultural Bank of China Ltd., H Shares | 72,180,068 | 27,343,384 |
Alibaba Group Holding Ltd. * | 3,218,607 | 42,921,900 |
Anhui Conch Cement Co., Ltd., A Shares | 416,200 | 2,658,140 |
Anhui Conch Cement Co., Ltd., H Shares | 1,733,385 | 9,295,063 |
BAIC Motor Corp., Ltd., H Shares | 21,685,790 | 7,548,965 |
Baidu, Inc., ADR * | 142,064 | 21,656,236 |
Bank of China Ltd., A Shares | 14,192,200 | 6,972,396 |
Bank of China Ltd., H Shares | 191,867,627 | 74,648,065 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Bank of Communications Co., Ltd., A Shares | 8,211,700 | 6,220,591 |
Bank of Communications Co., Ltd., H Shares | 20,135,881 | 13,812,704 |
Beijing Enterprises Holdings Ltd. | 1,552,545 | 5,295,228 |
BYD Co., Ltd., A Shares | 27,300 | 1,079,886 |
BYD Co., Ltd., H Shares | 166,182 | 5,049,030 |
China Cinda Asset Management Co., Ltd., H Shares | 35,504,998 | 6,406,958 |
China CITIC Bank Corp., Ltd., A Shares | 2,339,900 | 1,705,791 |
China CITIC Bank Corp., Ltd., H Shares | 28,032,036 | 13,166,307 |
China Communications Services Corp., Ltd., H Shares | 12,068,189 | 6,625,866 |
China Construction Bank Corp., A Shares | 1,835,000 | 1,753,574 |
China Construction Bank Corp., H Shares | 239,837,569 | 179,869,736 |
China Everbright Bank Co., Ltd., A Shares | 7,816,800 | 4,137,577 |
China Everbright Bank Co., Ltd., H Shares | 7,774,007 | 2,885,268 |
China Evergrande Group | 25,451,511 | 5,211,669 |
China Gas Holdings Ltd. | 2,120,875 | 3,354,879 |
China Hongqiao Group Ltd. | 5,647,676 | 7,849,516 |
China Jinmao Holdings Group Ltd. | 16,909,932 | 5,626,761 |
China Life Insurance Co., Ltd., A Shares | 175,900 | 802,282 |
China Life Insurance Co., Ltd., H Shares | 4,151,478 | 6,885,746 |
China Longyuan Power Group Corp., Ltd., H Shares | 3,175,567 | 6,502,562 |
China Mengniu Dairy Co., Ltd. * | 1,343,828 | 8,728,166 |
China Merchants Bank Co., Ltd., A Shares | 1,180,600 | 9,317,572 |
China Merchants Bank Co., Ltd., H Shares | 2,859,741 | 24,082,184 |
China Minsheng Banking Corp., Ltd., A Shares | 9,677,000 | 5,996,366 |
China Minsheng Banking Corp., Ltd., H Shares | 25,316,537 | 9,849,658 |
China National Building Material Co., Ltd., H Shares | 13,347,016 | 17,115,720 |
China Oriental Group Co., Ltd. | 21,840,618 | 6,345,035 |
China Overseas Land & Investment Ltd. | 10,290,779 | 31,410,865 |
China Pacific Insurance Group Co., Ltd., A Shares | 271,600 | 1,138,051 |
China Pacific Insurance Group Co., Ltd., H Shares | 1,603,568 | 4,463,648 |
China Petroleum & Chemical Corp., A Shares | 16,028,600 | 10,999,023 |
China Petroleum & Chemical Corp., H Shares | 179,202,298 | 88,526,674 |
China Railway Group Ltd., A Shares | 5,037,800 | 4,957,962 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
China Railway Group Ltd., H Shares | 12,739,954 | 7,483,828 |
China Resources Land Ltd. | 4,425,742 | 21,523,503 |
China Resources Power Holdings Co., Ltd. | 6,843,677 | 15,204,862 |
China Shenhua Energy Co., Ltd., A Shares | 1,230,400 | 4,921,600 |
China Shenhua Energy Co., Ltd., H Shares | 8,627,771 | 23,739,979 |
China State Construction Engineering Corp., Ltd., A Shares | 10,318,600 | 8,323,562 |
China Taiping Insurance Holdings Co., Ltd. | 3,485,778 | 4,117,605 |
China Tower Corp., Ltd., H Shares | 62,739,332 | 7,306,755 |
China Vanke Co., Ltd., A Shares | 1,261,400 | 3,838,174 |
China Vanke Co., Ltd., H Shares | 3,584,799 | 8,496,676 |
CITIC Ltd. | 22,112,256 | 25,780,700 |
Country Garden Holdings Co., Ltd. | 17,422,573 | 13,512,266 |
Dongfeng Motor Group Co., Ltd., H Shares | 7,930,294 | 6,810,125 |
ENN Energy Holdings Ltd. | 415,534 | 6,030,633 |
Fosun International Ltd. | 5,622,047 | 6,094,262 |
Geely Automobile Holdings Ltd. | 3,810,553 | 7,032,286 |
Guangzhou R&F Properties Co., Ltd., H Shares (a) | 13,224,207 | 5,618,896 |
Hengan International Group Co., Ltd. | 1,089,347 | 5,778,752 |
Huaneng Power International, Inc., A Shares | 2,123,400 | 2,951,223 |
Huaneng Power International, Inc., H Shares | 18,443,494 | 10,787,049 |
Industrial & Commercial Bank of China Ltd., A Shares | 11,720,000 | 8,655,341 |
Industrial & Commercial Bank of China Ltd., H Shares | 175,112,892 | 104,659,407 |
Industrial Bank Co., Ltd., A Shares | 2,452,200 | 8,576,871 |
JD.com, Inc., A Shares * | 579,500 | 20,706,759 |
Jiangxi Copper Co., Ltd., A Shares | 430,800 | 1,512,920 |
Jiangxi Copper Co., Ltd., H Shares | 3,631,364 | 6,524,995 |
Jinmao Property Services Co., Ltd. *(b) | 254,198 | 254,729 |
Kingboard Holdings Ltd. | 1,741,274 | 8,122,840 |
Kunlun Energy Co., Ltd. | 8,575,825 | 8,385,183 |
Legend Holdings Corp., H Shares | 3,450,269 | 4,848,401 |
Longfor Group Holdings Ltd. | 1,824,946 | 9,762,692 |
Meituan, B Shares * | 162,558 | 3,582,488 |
NetEase, Inc. | 651,866 | 12,722,470 |
PetroChina Co., Ltd., H Shares | 83,395,115 | 44,506,140 |
PICC Property & Casualty Co., Ltd., H Shares | 19,618,397 | 20,713,846 |
Ping An Insurance Group Co. of China Ltd., A Shares | 863,100 | 6,943,099 |
Ping An Insurance Group Co. of China Ltd., H Shares | 6,738,976 | 52,092,370 |
Postal Savings Bank of China Co., Ltd., H Shares | 11,775,909 | 9,660,414 |
SAIC Motor Corp., Ltd., A Shares | 2,158,000 | 6,193,563 |
Shanghai Pudong Development Bank Co., Ltd., A Shares | 5,470,600 | 7,273,904 |
Shenzhou International Group Holdings Ltd. | 236,115 | 3,967,634 |
Shimao Group Holdings Ltd. | 4,925,896 | 2,944,051 |
Sinopec Shanghai Petrochemical Co., Ltd., A Shares | 2,009,500 | 1,292,959 |
Sinopec Shanghai Petrochemical Co., Ltd., H Shares | 18,690,996 | 4,210,061 |
Sinopharm Group Co., Ltd., H Shares | 4,705,506 | 11,369,768 |
Sunac China Holdings Ltd. | 3,807,877 | 3,118,934 |
Tencent Holdings Ltd. | 1,065,398 | 57,430,620 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Vipshop Holdings Ltd., ADR * | 444,309 | 3,852,159 |
Weichai Power Co., Ltd., A Shares | 374,300 | 899,269 |
Weichai Power Co., Ltd., H Shares | 2,386,832 | 4,032,172 |
Yankuang Energy Group Co., Ltd., A Shares | 207,700 | 1,043,437 |
Yankuang Energy Group Co., Ltd., H Shares (a) | 4,338,323 | 10,638,016 |
1,359,540,912 | ||
Colombia 0.3% | ||
Bancolombia S.A. | 624,650 | 6,252,899 |
Ecopetrol S.A. | 11,841,176 | 9,907,104 |
16,160,003 | ||
Czech Republic 0.2% | ||
CEZ A/S | 270,724 | 10,317,216 |
Egypt 0.1% | ||
Commercial International Bank Egypt S.A.E., GDR * | 2,005,805 | 5,866,980 |
Greece 0.5% | ||
Alpha Services and Holdings S.A. * | 7,149,716 | 9,733,044 |
Hellenic Telecommunications Organization S.A. | 362,180 | 7,241,053 |
Motor Oil Hellas Corinth Refineries S.A. | 360,910 | 5,792,799 |
22,766,896 | ||
Hungary 0.4% | ||
MOL Hungarian Oil & Gas plc | 1,630,799 | 12,805,898 |
OTP Bank Nyrt * | 173,977 | 6,725,303 |
19,531,201 | ||
India 9.8% | ||
Axis Bank Ltd. * | 1,124,834 | 11,083,006 |
Bharat Petroleum Corp., Ltd. | 2,716,366 | 12,610,701 |
Bharti Airtel Ltd. * | 1,242,174 | 11,317,594 |
Coal India Ltd. | 4,999,549 | 11,250,188 |
GAIL India Ltd. | 3,397,585 | 6,531,606 |
Grasim Industries Ltd. | 373,836 | 7,930,945 |
HCL Technologies Ltd. | 743,151 | 11,115,087 |
Hero MotoCorp Ltd. | 183,614 | 6,178,627 |
Hindalco Industries Ltd. | 2,226,634 | 16,955,191 |
Hindustan Petroleum Corp., Ltd. | 3,547,829 | 12,866,310 |
Hindustan Unilever Ltd. | 189,169 | 5,453,319 |
Housing Development Finance Corp., Ltd. | 537,329 | 16,862,065 |
ICICI Bank Ltd. | 640,817 | 6,316,530 |
Indian Oil Corp., Ltd. | 13,495,712 | 20,597,988 |
Infosys Ltd. | 2,007,071 | 45,699,340 |
ITC Ltd. | 2,863,047 | 8,201,847 |
JSW Steel Ltd. | 864,359 | 7,197,877 |
Larsen & Toubro Ltd. | 363,216 | 8,757,725 |
Mahindra & Mahindra Ltd. | 782,224 | 8,210,250 |
Maruti Suzuki India Ltd. | 116,192 | 12,821,098 |
NTPC Ltd. | 7,368,554 | 13,055,535 |
Oil & Natural Gas Corp., Ltd. | 14,738,733 | 31,424,765 |
Power Grid Corp. of India Ltd. | 2,829,287 | 7,853,550 |
Reliance Industries Ltd. | 1,907,983 | 59,749,577 |
State Bank of India | 1,962,083 | 12,582,747 |
Sun Pharmaceutical Industries Ltd. | 640,104 | 7,169,233 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Tata Consultancy Services Ltd. | 503,391 | 23,745,344 |
Tata Motors Ltd. * | 3,753,330 | 22,617,864 |
Tata Motors Ltd., A Shares, DVR * | 839,248 | 2,414,798 |
Tata Steel Ltd. | 905,589 | 14,671,990 |
Tech Mahindra Ltd. | 378,798 | 7,088,559 |
Vedanta Ltd. | 3,455,617 | 17,441,470 |
Wipro Ltd. | 892,557 | 6,583,937 |
474,356,663 | ||
Indonesia 1.7% | ||
PT Astra International Tbk | 38,646,217 | 15,601,591 |
PT Bank Central Asia Tbk | 16,539,642 | 9,267,357 |
PT Bank Mandiri (Persero) Tbk | 22,698,181 | 12,165,100 |
PT Bank Rakyat Indonesia (Persero) Tbk | 46,100,540 | 14,599,948 |
PT Telkom Indonesia (Persero) Tbk | 81,913,586 | 24,744,551 |
PT United Tractors Tbk | 3,498,445 | 6,063,290 |
82,441,837 | ||
Kuwait 0.7% | ||
Kuwait Finance House KSCP | 2,504,516 | 7,808,002 |
Mobile Telecommunications Co. KSCP | 3,808,695 | 7,798,517 |
National Bank of Kuwait SAKP | 5,385,633 | 18,764,342 |
34,370,861 | ||
Malaysia 1.9% | ||
Axiata Group Berhad | 8,700,172 | 8,143,784 |
CIMB Group Holdings Berhad | 11,027,284 | 14,997,211 |
Genting Berhad | 6,814,500 | 7,531,090 |
Malayan Banking Berhad | 8,245,030 | 17,202,921 |
Petronas Chemicals Group Berhad | 3,268,600 | 7,434,829 |
Public Bank Berhad | 12,973,200 | 13,750,325 |
Tenaga Nasional Berhad | 10,345,500 | 22,595,745 |
91,655,905 | ||
Mexico 4.1% | ||
Alfa S.A.B. de C.V., A Shares | 15,215,853 | 11,423,526 |
America Movil S.A.B. de C.V., Series L | 64,057,580 | 58,030,383 |
Cemex SAB de C.V., ADR * | 3,121,876 | 15,921,568 |
Coca-Cola Femsa S.A.B. de C.V. | 1,072,060 | 5,901,642 |
Fomento Economico Mexicano S.A.B. de C.V. | 3,008,591 | 24,299,903 |
Grupo Bimbo S.A.B. de C.V., Series A | 3,798,331 | 11,724,495 |
Grupo Financiero Banorte S.A.B. de C.V., O Shares | 3,583,164 | 24,295,194 |
Grupo Mexico S.A.B. de C.V., Series B | 3,344,457 | 17,198,194 |
Grupo Televisa S.A.B., Series CPO | 3,353,793 | 7,205,751 |
Wal-Mart de Mexico S.A.B. de C.V. | 5,964,405 | 22,739,613 |
198,740,269 | ||
Philippines 0.1% | ||
SM Investments Corp. | 308,257 | 5,363,083 |
Qatar 0.6% | ||
Ooredoo QPSC | 3,272,758 | 6,898,769 |
Qatar National Bank QPSC | 3,534,476 | 21,162,202 |
28,060,971 | ||
SECURITY | NUMBER OF SHARES | VALUE ($) |
Russia 3.0% | ||
Alrosa PJSC (b)(c) | 5,101,117 | 2,117,201 |
Gazprom PJSC (b)(c) | 40,103,722 | 46,063,823 |
Inter RAO UES PJSC (b)(c) | 163,997,565 | 2,255,696 |
LUKOIL PJSC (b)(c) | 1,548,485 | 38,513,024 |
Magnit PJSC (b)(c) | 213,464 | 3,193,631 |
MMC Norilsk Nickel PJSC (b)(c) | 56,707 | 5,473,498 |
Mobile TeleSystems PJSC (b)(c) | 2,722,155 | 3,087,301 |
Novatek PJSC (b)(c) | 910,093 | 5,573,727 |
Novolipetsk Steel PJSC (b)(c) | 2,244,152 | 2,030,729 |
Rosneft Oil Co. PJSC (b)(c) | 4,831,508 | 7,181,774 |
ROSSETI PJSC (b)(c) | 304,960,410 | 1,000,808 |
Sberbank of Russia PJSC (b)(c) | 16,483,790 | 10,381,639 |
Severstal PAO (b)(c) | 350,021 | 2,381,834 |
Sistema PJSC (b)(c) | 13,190,680 | 792,692 |
Surgutneftegas PJSC (b)(c) | 22,928,546 | 2,467,075 |
Tatneft PJSC (b)(c) | 4,700,439 | 8,504,567 |
VTB Bank PJSC (b)(c) | 12,998,250,000 | 1,237,646 |
142,256,665 | ||
Saudi Arabia 3.3% | ||
Al Rajhi Bank | 468,400 | 20,025,951 |
Banque Saudi Fransi | 543,662 | 7,694,766 |
Riyad Bank | 1,101,294 | 10,420,859 |
Saudi Arabian Oil Co. | 1,402,539 | 15,533,091 |
Saudi Basic Industries Corp. | 1,331,813 | 44,231,655 |
Saudi Electricity Co. | 1,252,852 | 9,216,812 |
Saudi Telecom Co. | 606,983 | 18,443,922 |
The Saudi British Bank | 743,420 | 7,668,618 |
The Saudi National Bank | 1,383,496 | 25,149,779 |
158,385,453 | ||
South Africa 7.3% | ||
Absa Group Ltd. | 1,871,874 | 21,397,691 |
AngloGold Ashanti Ltd. | 506,692 | 11,918,616 |
Aspen Pharmacare Holdings Ltd. | 466,861 | 6,072,743 |
Barloworld Ltd. | 1,037,454 | 8,247,936 |
Bid Corp., Ltd. | 571,478 | 11,553,453 |
FirstRand Ltd. | 6,777,890 | 29,002,044 |
Gold Fields Ltd. | 934,411 | 12,990,747 |
MTN Group Ltd. * | 4,826,006 | 59,839,039 |
MultiChoice Group | 918,966 | 7,494,457 |
Naspers Ltd., N Shares | 71,575 | 8,932,504 |
Nedbank Group Ltd. | 1,082,643 | 15,314,993 |
Old Mutual Ltd. | 11,076,942 | 9,032,161 |
Sanlam Ltd. | 2,119,210 | 8,867,699 |
Sappi Ltd. * | 2,973,901 | 9,799,776 |
Sasol Ltd. * | 2,178,684 | 49,430,502 |
Shoprite Holdings Ltd. | 883,299 | 13,090,145 |
Sibanye Stillwater Ltd. | 1,536,744 | 7,097,714 |
Standard Bank Group Ltd. | 2,958,171 | 31,135,216 |
The Bidvest Group Ltd. | 599,876 | 8,169,028 |
The SPAR Group Ltd. | 418,182 | 4,440,401 |
Thungela Resources Ltd. * | 220,185 | 1,957,691 |
Vodacom Group Ltd. | 1,021,523 | 9,784,541 |
Woolworths Holdings Ltd. | 1,833,867 | 5,993,223 |
351,562,320 | ||
Taiwan 17.9% | ||
Acer, Inc. | 6,935,470 | 7,124,720 |
ASE Technology Holding Co., Ltd. | 4,582,000 | 16,229,449 |
Asustek Computer, Inc. | 1,602,176 | 21,230,904 |
AU Optronics Corp. | 25,770,371 | 18,889,999 |
Catcher Technology Co., Ltd. | 1,892,000 | 9,650,651 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Cathay Financial Holding Co., Ltd. | 8,088,840 | 17,975,200 |
Cheng Shin Rubber Industry Co., Ltd. | 3,683,000 | 4,676,825 |
China Steel Corp. | 16,155,088 | 20,744,896 |
Chunghwa Telecom Co., Ltd. | 4,379,764 | 19,449,995 |
Compal Electronics, Inc. | 22,933,000 | 20,777,535 |
CTBC Financial Holding Co., Ltd. | 17,810,809 | 17,248,563 |
Delta Electronics, Inc. | 1,351,696 | 11,884,896 |
E.Sun Financial Holding Co., Ltd. | 6,446,598 | 6,771,975 |
Far Eastern New Century Corp. | 9,441,061 | 9,951,252 |
Far EasTone Telecommunications Co., Ltd. | 2,488,588 | 6,151,566 |
First Financial Holding Co., Ltd. | 8,343,655 | 7,648,722 |
Formosa Chemicals & Fibre Corp. | 6,292,882 | 17,732,751 |
Formosa Petrochemical Corp. | 2,610,704 | 9,107,432 |
Formosa Plastics Corp. | 5,129,704 | 19,212,375 |
Foxconn Technology Co., Ltd. | 2,674,858 | 6,087,246 |
Fubon Financial Holding Co., Ltd. | 8,597,970 | 23,032,194 |
Hon Hai Precision Industry Co., Ltd. | 37,216,928 | 136,734,210 |
Innolux Corp. | 28,474,000 | 17,012,288 |
Inventec Corp. | 11,323,646 | 10,360,318 |
Largan Precision Co., Ltd. | 80,200 | 5,778,634 |
Lite-On Technology Corp. | 3,869,229 | 9,440,174 |
MediaTek, Inc. | 534,046 | 20,668,447 |
Mega Financial Holding Co., Ltd. | 8,956,548 | 12,012,349 |
Nan Ya Plastics Corp. | 7,084,588 | 22,162,239 |
Pegatron Corp. | 9,715,234 | 23,945,877 |
Pou Chen Corp. | 8,588,000 | 9,833,237 |
President Chain Store Corp. | 559,000 | 5,214,143 |
Quanta Computer, Inc. | 5,110,058 | 16,933,276 |
Synnex Technology International Corp. | 3,986,178 | 10,223,157 |
Taiwan Cement Corp. | 5,748,302 | 9,708,654 |
Taiwan Mobile Co., Ltd. | 1,778,000 | 6,564,045 |
Taiwan Semiconductor Manufacturing Co., Ltd. | 8,194,352 | 176,543,200 |
Uni-President Enterprises Corp. | 6,617,796 | 15,839,276 |
United Microelectronics Corp. | 8,077,931 | 15,011,957 |
Walsin Lihwa Corp. | 8,804,000 | 8,761,605 |
Wistron Corp. | 13,763,934 | 14,434,088 |
WPG Holdings Ltd. | 6,376,880 | 12,669,599 |
Yageo Corp. | 394,000 | 6,345,318 |
Yuanta Financial Holding Co., Ltd. | 7,576,960 | 6,716,157 |
864,491,394 | ||
Thailand 3.7% | ||
Advanced Info Service PCL NVDR | 1,376,800 | 9,649,187 |
Bangkok Bank PCL NVDR | 2,293,700 | 9,827,636 |
Charoen Pokphand Foods PCL NVDR | 8,820,100 | 6,815,839 |
CP ALL PCL NVDR | 4,891,700 | 10,180,125 |
IRPC PCL NVDR | 43,766,300 | 5,089,883 |
Kasikornbank PCL NVDR | 1,720,500 | 8,609,082 |
Krung Thai Bank PCL NVDR | 18,667,500 | 7,998,317 |
PTT Exploration & Production PCL NVDR | 2,354,000 | 9,833,849 |
PTT Global Chemical PCL NVDR | 6,640,500 | 10,771,125 |
PTT PCL NVDR | 45,237,400 | 54,686,375 |
Thai Oil PCL NVDR | 4,527,100 | 7,447,028 |
The Siam Cement PCL NVDR | 1,643,400 | 19,715,770 |
The Siam Commercial Bank PCL NVDR | 4,331,200 | 16,635,519 |
177,259,735 | ||
Turkey 1.4% | ||
Akbank T.A.S. | 13,225,386 | 6,708,284 |
BIM Birlesik Magazalar A/S | 702,097 | 3,703,073 |
SECURITY | NUMBER OF SHARES | VALUE ($) |
Eregli Demir ve Celik Fabrikalari T.A.S. | 3,261,577 | 7,314,024 |
Haci Omer Sabanci Holding A/S | 4,915,544 | 5,511,507 |
KOC Holding A/S | 3,509,268 | 8,011,259 |
Turk Hava Yollari AO * | 4,229,339 | 7,818,066 |
Turkcell Iletisim Hizmetleri A/S | 4,348,506 | 6,438,210 |
Turkiye Garanti Bankasi A/S | 9,400,378 | 7,515,066 |
Turkiye Is Bankasi A/S, Class C | 8,598,263 | 4,938,232 |
Turkiye Petrol Rafinerileri A/S * | 713,689 | 9,933,195 |
67,890,916 | ||
United Arab Emirates 1.4% | ||
Abu Dhabi Commercial Bank PJSC | 3,369,421 | 9,870,535 |
Emaar Properties PJSC | 8,758,214 | 12,113,020 |
Emirates NBD Bank PJSC | 2,854,270 | 11,112,308 |
Emirates Telecommunications Group Co. PJSC | 1,765,837 | 16,816,808 |
First Abu Dhabi Bank PJSC | 2,750,086 | 15,483,530 |
65,396,201 | ||
Total Common Stocks (Cost $4,096,586,055) | 4,556,100,485 | |
PREFERRED STOCKS 5.3% OF NET ASSETS | ||
Brazil 4.7% | ||
Banco Bradesco S.A. | 10,854,160 | 42,875,586 |
Centrais Eletricas Brasileiras S.A., B Shares | 551,198 | 3,681,643 |
Cia Energetica de Minas Gerais | 3,111,829 | 7,731,702 |
Gerdau S.A. | 2,237,228 | 11,056,510 |
Itau Unibanco Holding S.A. | 13,584,013 | 67,159,348 |
Petroleo Brasileiro S.A. | 14,172,560 | 93,535,540 |
226,040,329 | ||
Colombia 0.2% | ||
Bancolombia S.A. | 1,062,206 | 9,478,134 |
Russia 0.4% | ||
Surgutneftegas PJSC (b)(c) | 26,752,105 | 4,092,753 |
Tatneft PJSC (b)(c) | 504,714 | 808,690 |
Transneft PJSC (b)(c) | 23,922 | 17,317,575 |
22,219,018 | ||
Total Preferred Stocks (Cost $275,961,433) | 257,737,481 |
SECURITY | NUMBEROF SHARES | VALUE ($) |
SHORT-TERM INVESTMENTS 0.6% OF NET ASSETS | ||
Money Market Funds 0.6% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (d) | 20,821,297 | 20,821,297 |
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.03% (d)(e) | 5,958,427 | 5,958,427 |
26,779,724 | ||
Total Short-Term Investments (Cost $26,779,724) | 26,779,724 | |
Total Investments in Securities (Cost $4,399,327,212) | 4,840,617,690 |
NUMBER OF CONTRACTS | NOTIONAL AMOUNT ($) | CURRENT VALUE/ UNREALIZED DEPRECIATION ($) | |
FUTURES CONTRACTS | |||
Long | |||
MSCI Emerging Markets Index, expires 03/18/22 | 252 | 14,811,300 | (269,950) |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $5,600,487. |
(b) | Fair valued by management using significant unobservable inputs in accordance with procedures approved by the fund’s Board of Trustees. |
(c) | Trading in Russian securities listed on the Moscow Exchange, Russian ADRs, and Russian GDRs had ceased and suspended the fund’s ability to buy or sell these securities as of February 28, 2022. |
(d) | The rate shown is the 7-day yield. |
(e) | Security purchased with cash collateral received for securities on loan. |
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 Stocks1 | $3,054,302,908 | $— | $— | $3,054,302,908 |
China | 1,359,286,183 | — | 254,729 | 1,359,540,912 |
Russia 2 | — | — | 142,256,665 | 142,256,665 |
Preferred Stocks1 | 235,518,463 | — | — | 235,518,463 |
Russia 2 | — | — | 22,219,018 | 22,219,018 |
Short-Term Investments1 | 26,779,724 | — | — | 26,779,724 |
Liabilities | ||||
Futures Contracts3 | (269,950) | — | — | (269,950) |
Total | $4,675,617,328 | $— | $164,730,412 | $4,840,347,740 |
1 | As categorized in the Portfolio Holdings. |
2 | Trading in Russian securities listed on the Moscow Exchange, Russian ADRs, and Russian GDRs had ceased and suspended the fund’s ability to buy or sell these securities as of February 28, 2022. |
3 | Futures contracts are reported at cumulative unrealized appreciation or depreciation. |
INVESTMENT IN SECURITIES | VALUE AT 2/28/21 | GROSS TRANSFERS IN | GROSS TRANSFERS OUT | PURCHASES | SALES | REALIZED GAINS (LOSSES) | NET CHANGE IN UNREALIZED APPRECIATION (DEPRECIATION) | VALUE AT 2/28/22 |
Common Stocks | ||||||||
China | $— | $— | $— | $67,934 | $— | $— | $186,795 | $254,729 |
Philippines | 9,276,866 | — | (4,167,445) | 51,729 | (4,756,870) | 330,089 | (734,369) | — |
Russia | — | 365,180,824 | — | 218,573,243 | (98,988,827) | 19,924,151 | (362,432,726) | 142,256,665 |
Preferred Stocks | ||||||||
Russia | — | 38,096,864 | — | 30,092,831 | (2,183,947) | (918,275) | (42,868,455) | 22,219,018 |
Total | $9,276,866 | $403,277,688 | ($4,167,445) | $248,785,737 | ($105,929,644) | $19,335,965 | ($405,848,755) | $164,730,412 |
Assets | ||
Investments in securities, at value - unaffiliated (cost $4,399,327,212) including securities on loan of $5,600,487 | $4,840,617,690 | |
Foreign currency, at value (cost $8,980,926) | 8,869,022 | |
Deposit with broker for futures contracts | 952,389 | |
Receivables: | ||
Dividends | 5,430,908 | |
Income from securities on loan | + | 28,798 |
Total assets | 4,855,898,807 | |
Liabilities | ||
Collateral held for securities on loan | 5,958,427 | |
Payables: | ||
Foreign capital gains tax | 13,648,159 | |
Investments bought | 9,067,500 | |
Management fees | 1,554,739 | |
Variation margin on futures contracts | + | 104,427 |
Total liabilities | 30,333,252 | |
Net assets | $4,825,565,555 | |
Net Assets by Source | ||
Capital received from investors | $4,610,183,472 | |
Total distributable earnings | + | 215,382,083 |
Net assets | $4,825,565,555 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$4,825,565,555 | 165,000,000 | $29.25 | ||
For the period March 1, 2021 through February 28, 2022 | ||
Investment Income | ||
Dividends received from securities - unaffiliated (net of foreign withholding tax of $24,753,737) | $221,768,672 | |
Securities on loan, net | + | 355,445 |
Total investment income | 222,124,117 | |
Expenses | ||
Management fees | 18,514,414 | |
Professional fees | + | 78* |
Total expenses | 18,514,492 | |
Expense reduction by investment adviser | – | 78* |
Net expenses | – | 18,514,414 |
Net investment income | 203,609,703 | |
REALIZED AND UNREALIZED GAINS (LOSSES) | ||
Net realized gains on sales of securities - unaffiliated (net of foreign capital gains tax paid of $6,543,153) | 7,571,166 | |
Net realized gains on sales of in-kind redemptions - unaffiliated | 65,015,792 | |
Net realized losses on futures contracts | (3,186,113) | |
Net realized losses on foreign currency transactions | + | (1,676,167) |
Net realized gains | 67,724,678 | |
Net change in unrealized appreciation (depreciation) on securities - unaffiliated (net of change in foreign capital gains tax of $35,987) | (200,838,467) | |
Net change in unrealized appreciation (depreciation) on futures contracts | (165,630) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | 38,096 |
Net change in unrealized appreciation (depreciation) | + | (200,966,001) |
Net realized and unrealized losses | (133,241,323) | |
Increase in net assets resulting from operations | $70,368,380 |
* | 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 | |||
3/1/21-2/28/22 | 3/1/20-2/28/21 | ||
Net investment income | $203,609,703 | $92,017,907 | |
Net realized gains (losses) | 67,724,678 | (115,642,262) | |
Net change in unrealized appreciation (depreciation) | + | (200,966,001) | 652,744,376 |
Increase in net assets resulting from operations | $70,368,380 | $629,120,021 | |
DISTRIBUTIONS TO SHAREHOLDERS | |||
Total distributions | ($210,038,530) | ($87,400,780) |
TRANSACTIONS IN FUND SHARES | |||||
3/1/21-2/28/22 | 3/1/20-2/28/21 | ||||
SHARES | VALUE | SHARES | VALUE | ||
Shares sold | 40,800,000 | $1,289,730,550 | 31,300,000 | $765,612,459 | |
Shares redeemed | + | (4,200,000) | (130,019,083) | (3,700,000) | (76,104,258) |
Net transactions in fund shares | 36,600,000 | $1,159,711,467 | 27,600,000 | $689,508,201 | |
SHARES OUTSTANDING AND NET ASSETS | |||||
3/1/21-2/28/22 | 3/1/20-2/28/21 | ||||
SHARES | NET ASSETS | SHARES | NET ASSETS | ||
Beginning of period | 128,400,000 | $3,805,524,238 | 100,800,000 | $2,574,296,796 | |
Total increase | + | 36,600,000 | 1,020,041,317 | 27,600,000 | 1,231,227,442 |
End of period | 165,000,000 | $4,825,565,555 | 128,400,000 | $3,805,524,238 |
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 Dividend Equity ETF |
Schwab Fundamental International Large Company Index ETF | Schwab International Equity ETF |
Schwab Fundamental International Small Company Index ETF | Schwab International Small-Cap Equity ETF |
Schwab Fundamental Emerging Markets Large Company Index ETF | Schwab Emerging Markets Equity ETF |
Schwab U.S. Broad Market ETF | Schwab U.S. TIPS ETF |
Schwab 1000 Index® ETF | Schwab Short-Term U.S. Treasury ETF |
Schwab U.S. Large-Cap ETF | Schwab Intermediate-Term U.S. Treasury ETF |
Schwab U.S. Large-Cap Growth ETF | Schwab Long-Term U.S. Treasury ETF |
Schwab U.S. Large-Cap Value ETF | Schwab U.S. Aggregate Bond ETF |
Schwab U.S. Mid-Cap ETF | Schwab 1-5 Year Corporate Bond ETF |
Schwab U.S. Small-Cap ETF | Schwab 5-10 Year Corporate Bond ETF |
Schwab Ariel ESG ETF |
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% |
PURCHASE COST | SALE PROCEEDS | REALIZED GAINS (LOSSES) | |
Schwab Fundamental U.S. Broad Market Index ETF | $22,697,572 | $10,461,482 | ($2,121,079) |
Schwab Fundamental U.S. Large Company Index ETF | 412,683,816 | 156,409,489 | (22,694,141) |
Schwab Fundamental U.S. Small Company Index ETF | 287,637,098 | 81,597,336 | (6,112,775) |
Schwab Fundamental International Large Company Index ETF | 147,099,598 | 76,387,892 | 2,130,228 |
Schwab Fundamental International Small Company Index ETF | 56,144,704 | 43,932,531 | 4,819,817 |
Schwab Fundamental Emerging Markets Large Company Index ETF | 86,947,292 | 19,179,788 | 2,789,552 |
5. Other Service Providers: |
NOTIONAL AMOUNTS | NUMBER OF CONTRACTS | |
Schwab Fundamental U.S. Broad Market Index ETF | $599,799 | 3 |
Schwab Fundamental U.S. Large Company Index ETF | 12,029,228 | 55 |
Schwab Fundamental U.S. Small Company Index ETF | 7,015,407 | 63 |
Schwab Fundamental International Large Company Index ETF | 29,020,065 | 256 |
Schwab Fundamental International Small Company Index ETF | 11,829,455 | 105 |
Schwab Fundamental Emerging Markets Large Company Index ETF | 16,997,858 | 266 |
PURCHASES OF SECURITIES | SALES OF SECURITIES | |
Schwab Fundamental U.S. Broad Market Index ETF | $53,471,482 | $48,356,828 |
Schwab Fundamental U.S. Large Company Index ETF | 929,208,610 | 852,834,041 |
Schwab Fundamental U.S. Small Company Index ETF | 1,314,538,548 | 1,136,025,240 |
Schwab Fundamental International Large Company Index ETF | 1,075,172,610 | 1,009,411,269 |
Schwab Fundamental International Small Company Index ETF | 775,443,934 | 729,005,824 |
Schwab Fundamental Emerging Markets Large Company Index ETF | 1,909,031,745 | 942,843,373 |
IN-KIND PURCHASES OF SECURITIES | IN-KIND SALES OF SECURITIES | |
Schwab Fundamental U.S. Broad Market Index ETF | $101,486,601 | $15,483,967 |
Schwab Fundamental U.S. Large Company Index ETF | 3,881,918,021 | 947,040,367 |
Schwab Fundamental U.S. Small Company Index ETF | 1,207,767,649 | 789,910,044 |
Schwab Fundamental International Large Company Index ETF | 1,398,909,984 | 73,031,852 |
Schwab Fundamental International Small Company Index ETF | 461,268,277 | 80,246,362 |
Schwab Fundamental Emerging Markets Large Company Index ETF | 266,929,723 | 117,705,349 |
11. Federal Income Taxes: |
TAX COST | GROSS UNREALIZED APPRECIATION | GROSS UNREALIZED DEPRECIATION | NET UNREALIZED APPRECIATION (DEPRECIATION) | |
Schwab Fundamental U.S. Broad Market Index ETF | $312,771,645 | $122,199,430 | ($10,196,595) | $112,002,835 |
Schwab Fundamental U.S. Large Company Index ETF | 8,178,210,135 | 1,931,042,550 | (227,881,588) | 1,703,160,962 |
Schwab Fundamental U.S. Small Company Index ETF | 4,134,679,440 | 1,005,044,642 | (259,834,238) | 745,210,404 |
Schwab Fundamental International Large Company Index ETF | 6,504,155,670 | 1,346,693,603 | (492,873,010) | 853,820,593 |
Schwab Fundamental International Small Company Index ETF | 2,542,350,274 | 497,133,593 | (317,927,585) | 179,206,008 |
Schwab Fundamental Emerging Markets Large Company Index ETF | 4,550,552,695 | 1,011,445,869 | (721,650,824) | 289,795,045 |
UNDISTRIBUTED ORDINARY INCOME | NET UNREALIZED APPRECIATION (DEPRECIATION) ON INVESTMENTS | NET OTHER UNREALIZED APPRECIATION (DEPRECIATION) | CAPITAL LOSS CARRYFORWARDS AND OTHER LOSSES | TOTAL | |
Schwab Fundamental U.S. Broad Market Index ETF | $1,194,044 | $112,002,835 | $— | ($15,703,203) | $97,493,676 |
Schwab Fundamental U.S. Large Company Index ETF | 29,791,110 | 1,703,160,962 | — | (300,484,124) | 1,432,467,948 |
Schwab Fundamental U.S. Small Company Index ETF | 432,038 | 745,210,404 | — | (437,766,071) | 307,876,371 |
Schwab Fundamental International Large Company Index ETF | 13,910,542 | 853,820,593 | 11,755 | (180,669,635) | 687,073,255 |
Schwab Fundamental International Small Company Index ETF | 2,047,845 | 179,206,008 | (8,372) | (112,768,244) | 68,477,237 |
Schwab Fundamental Emerging Markets Large Company Index ETF | — | 289,795,045 | (13,652,500) | (60,760,462) | 215,382,083 |
Schwab Fundamental U.S. Broad Market Index ETF | $15,703,203 |
Schwab Fundamental U.S. Large Company Index ETF | 300,484,124 |
Schwab Fundamental U.S. Small Company Index ETF | 437,766,071 |
Schwab Fundamental International Large Company Index ETF | 180,669,635 |
Schwab Fundamental International Small Company Index ETF | 112,768,244 |
Schwab Fundamental Emerging Markets Large Company Index ETF | 57,024,223 |
Schwab Fundamental U.S. Broad Market Index ETF | $— |
Schwab Fundamental U.S. Large Company Index ETF | — |
Schwab Fundamental U.S. Small Company Index ETF | 18,828,022 |
Schwab Fundamental International Large Company Index ETF | — |
Schwab Fundamental International Small Company Index ETF | 15,225,915 |
Schwab Fundamental Emerging Markets Large Company Index ETF | 63,075,905 |
CURRENT FISCAL YEAR END DISTRIBUTIONS | PRIOR FISCAL YEAR END DISTRIBUTIONS | |
ORDINARY INCOME | ORDINARY INCOME | |
Schwab Fundamental U.S. Broad Market Index ETF | $6,475,295 | $6,024,890 |
Schwab Fundamental U.S. Large Company Index ETF | 130,197,615 | 134,608,220 |
Schwab Fundamental U.S. Small Company Index ETF | 56,395,300 | 51,561,985 |
Schwab Fundamental International Large Company Index ETF | 245,365,750 | 114,361,960 |
Schwab Fundamental International Small Company Index ETF | 68,417,380 | 38,178,680 |
Schwab Fundamental Emerging Markets Large Company Index ETF | 210,038,530 | 87,400,780 |
Denver, Colorado
April 18, 2022
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 | 16,767,239 | 252,999,577 |
Schwab Fundamental International Small Company Index ETF | 6,431,680 | 66,246,548 |
Schwab Fundamental Emerging Markets Large Company Index ETF | 24,252,320 | 246,267,875 |
Schwab Fundamental U.S. Broad Market Index ETF | 99.52% |
Schwab Fundamental U.S. Large Company Index ETF | 99.41% |
Schwab Fundamental U.S. Small Company Index ETF | 96.20% |
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 | $6,475,295 |
Schwab Fundamental U.S. Large Company Index ETF | 130,197,615 |
Schwab Fundamental U.S. Small Company Index ETF | 55,175,302 |
Schwab Fundamental International Large Company Index ETF | 248,646,356 |
Schwab Fundamental International Small Company Index ETF | 61,332,264 |
Schwab Fundamental Emerging Markets Large Company Index ETF | 136,410,603 |
Schwab Fundamental U.S. Broad Market Index ETF | $— |
Schwab Fundamental U.S. Large Company Index ETF | — |
Schwab Fundamental U.S. Small Company Index ETF | 1,219,998 |
Schwab Fundamental International Large Company Index ETF | — |
Schwab Fundamental International Small Company Index ETF | — |
Schwab Fundamental Emerging Markets Large Company Index ETF | — |
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. | 103 | None |
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. | 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 – 2021), 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 |
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. | 103 | Director (2008 – present), KLA-Tencor Corporation |
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 |
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 |
J. Derek Penn 1957 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2021) | Head of Equity Sales and Trading (2006 – 2018), BNY Mellon (financial services). | 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 and Chief Executive Officer (Oct. 2008 – present) and President (Feb. 2007 – Oct. 2021), The Charles Schwab Corporation; President and Chief Executive Officer (Oct. 2008 – Oct. 2021) and Director (May 2008 – Oct. 2021), 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 – Oct. 2021), 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), The Charles Schwab Corporation; Senior Executive Vice President (July 2015 – present), Charles Schwab & Co., Inc.; Director (May 2007 – present), Charles Schwab & Co., Inc.; Director (Apr. 2010 – Apr. 2020), Charles Schwab Bank, SSB; Director (Nov. 2017 – Apr. 2020), Charles Schwab Premier Bank, SSB; Director (May 2007 – Apr. 2020), and Senior Executive Vice President (Feb. 2016 – present), 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 – Mar. 2022) and Chief Operating Officer (Jan. 2020 – Mar. 2022), Charles Schwab Investment Advisory, Inc.; Chief Executive Officer (Apr. 2019 – present), President (Nov. 2018 – present) and Trustee (Apr. 2019 – Dec. 2020), Schwab Funds, Laudus Trust and Schwab ETFs; Director (Apr. 2019 – Apr. 2022), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited; Senior Vice President (Apr. 2019 – present), and Senior Vice President – Strategy and Product Development (CSIM) (Jan. 2014 – Mar. 2019), 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 Trust and Schwab ETFs; Chief Financial Officer (Mar. 2020 – present) and Vice President (Oct. 2013 – present), Charles Schwab Investment Management, Inc.; Director (July 2020 – Apr. 2022), Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited. |
Omar Aguilar 1970 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Chief Executive Officer (Jan. 2022 – present) and Chief Investment Officer (Apr. 2011 – present), Senior Vice President (Apr. 2011 – Dec. 2021), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2011 – present), Schwab Funds, Laudus Trust and Schwab ETFs. |
Brett Wander 1961 Vice President and Chief Investment Officer (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.; Vice President and Chief Investment Officer (June 2011 – present), Schwab Funds, Laudus Trust and Schwab ETFs. |
William P. McMahon, Jr. 1972 Vice President and Chief Investment Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2021) | Senior Vice President and Chief Investment Officer (Jan. 2020 – present), Charles Schwab Investment Management, Inc.; Vice President and Chief Investment Officer (June 2021 – present), Schwab Funds, Laudus Trust and Schwab ETFs; Senior Vice President and Chief Investment Officer – ThomasPartners Strategies (Apr. 2018 – Dec. 2019), Charles Schwab Investment Advisory, Inc.; Senior Vice President and Chief Investment Officer (May 2001 – Apr. 2018), ThomasPartners, Inc. |
Catherine MacGregor 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Trust (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) | Chief Legal Officer (Mar. 2022 – present) and Vice President (Sept. 2005 – present), Charles Schwab Investment Management, Inc.; Vice President (July 2005 – present), Charles Schwab & Co., Inc.; Vice President (Dec. 2005 – present) and Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Trust; Chief Legal Officer and Secretary (Oct. 2021 – present), Vice President (Nov. 2005 – Oct. 2021) and Assistant Secretary (June 2007 – Oct. 2021), Schwab Funds; Chief Legal Officer and Secretary (Oct. 2021 – present), Vice President and Assistant Secretary (Oct. 2009 – Oct. 2021), 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., the investment adviser for the trusts in the Fund Complex, and is an employee of Charles Schwab & Co., Inc. (Schwab), the principal underwriter for The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust. Mr. Martinetto is an Interested Trustee because he owns stock of CSC and is an employee and director of Schwab. |
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. |
• | You may have to pay more money to trade the fund’s shares. This fund will provide less information to traders, who tend to charge more for trades when they have less information. |
• | The price you pay to buy fund shares on an exchange may not match the value of the fund’s portfolio. The same is true when you sell shares. These price differences may be greater for this fund compared to other ETFs because it provides less information to traders. |
• | These additional risks may be even greater in bad or uncertain market conditions. |
• | The ETF will publish on its website each day a “Proxy Portfolio” designed to help trading in shares of the ETF. While the Proxy Portfolio includes some of the ETF’s holdings, it is not the ETF’s actual portfolio. |
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, Kimberly S. Patmore and J. Derek Penn, 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, Ms. Patmore and Mr. Penn 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-seven operational series. Seven series have a fiscal year-end of the last day of February, whose annual financial statements are reported in Item 1, one has a fiscal year-end of March 31, twelve series have a fiscal year-end of August 31, and 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-seven operational series during 2021/2022 and the twenty-five operational series during 2020/2021, based on their respective 2021/2022 and 2020/2021 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 Fees1 | (b) Audit-Related Fees | (c) Tax Fees2 | (d) All Other Fees | |||||||||||||||||||||||||
Fiscal Year 2021/2022 | Fiscal Year 2020/2021 | Fiscal Year 2021/2022 | Fiscal Year 2020/2021 | Fiscal Year 2021/2022 | Fiscal Year 2020/2021 | Fiscal Year 2021/2022 | Fiscal Year 2020/2021 | |||||||||||||||||||||
$468,400 | $ | 450,900 | $ | 0 | $ | 0 | $ | 83,700 | $ | 77,500 | $ | 0 | $ | 0 |
1 | The nature of the services includes audit of the registrant’s annual financial statements and normally provided services in connection with regulatory filings for those fiscal years. |
2 | 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.
2021/2022: $2,523,317 2020/2021: $4,326,956
(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, J. Derek Penn 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 18, 2022 |
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 18, 2022 |
By: | /s/ Mark Fischer | |
Mark Fischer Chief Financial Officer | ||
Date: | April 18, 2022 |