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 811-22717
First Trust Exchange-Traded Fund VI
(Exact name of registrant as specified in charter)
120 East Liberty Drive, Suite 400
Wheaton, IL 60187
(Address of principal executive offices) (Zip code)
W. Scott Jardine, Esq.
First Trust Portfolios L.P.
120 East Liberty Drive, Suite 400
Wheaton, IL 60187
(Name and address of agent for service)
Registrant’s telephone number, including area code: (630) 765-8000
Date of fiscal year end: March 31
Date of reporting period: September 30, 2022
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549p. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
Item 1. Report to Stockholders.
(a) The registrant’s semi-annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 is as follows:
First Trust Nasdaq Bank ETF (FTXO)
First Trust Nasdaq Food & Beverage ETF (FTXG)
First Trust Nasdaq Oil & Gas ETF (FTXN)
First Trust Nasdaq Pharmaceuticals ETF (FTXH)
First Trust S-Network E-Commerce ETF (ISHP)
(formerly known as First Trust Nasdaq Retail ETF)
First Trust Nasdaq Semiconductor ETF (FTXL)
First Trust Nasdaq Transportation ETF (FTXR)
First Trust S-Network Streaming & Gaming ETF (BNGE)
For the Period Ended
September 30, 2022
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Fund Performance Overview | |
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12 | |
14 | |
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18 | |
20 | |
21 | |
Portfolio of Investments | |
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24 | |
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Performance | |||||||
Average Annual Total Returns | Cumulative Total Returns | ||||||
6 Months Ended 9/30/22 | 1 Year Ended 9/30/22 | 5 Years Ended 9/30/22 | Inception (9/20/16) to 9/30/22 | 5 Years Ended 9/30/22 | Inception (9/20/16) to 9/30/22 | ||
Fund Performance | |||||||
NAV | -17.16% | -18.52% | 1.40% | 6.89% | 7.22% | 49.44% | |
Market Price | -17.18% | -18.54% | 1.41% | 6.90% | 7.26% | 49.50% | |
Index Performance | |||||||
Nasdaq US Smart Banks IndexTM | -16.98% | -18.10% | 2.06% | 7.60% | 10.76% | 55.50% | |
Nasdaq US Benchmark Banks Index | -19.12% | -23.82% | 2.31% | 8.02% | 12.11% | 59.17% | |
Nasdaq US Benchmark Index | -20.68% | -18.01% | 8.68% | 10.51% | 51.60% | 82.63% |
Sector Allocation | % of Total Investments |
Financials | 100.0% |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
M&T Bank Corp. | 8.1% |
Popular, Inc. | 8.1 |
Regions Financial Corp. | 8.0 |
Wells Fargo & Co. | 8.0 |
New York Community Bancorp, Inc. | 7.5 |
Cullen/Frost Bankers, Inc. | 4.4 |
Old National Bancorp | 4.3 |
First Citizens BancShares, Inc., Class A | 4.2 |
PNC Financial Services Group (The), Inc. | 4.1 |
Synovus Financial Corp. | 4.0 |
Total | 60.7% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | |||||||
Average Annual Total Returns | Cumulative Total Returns | ||||||
6 Months Ended 9/30/22 | 1 Year Ended 9/30/22 | 5 Years Ended 9/30/22 | Inception (9/20/16) to 9/30/22 | 5 Years Ended 9/30/22 | Inception (9/20/16) to 9/30/22 | ||
Fund Performance | |||||||
NAV | -7.76% | 4.27% | 6.16% | 5.13% | 34.82% | 35.17% | |
Market Price | -7.82% | 4.35% | 6.15% | 5.14% | 34.78% | 35.27% | |
Index Performance | |||||||
Nasdaq US Smart Food & Beverage IndexTM | -7.51% | 4.92% | 6.84% | 5.80% | 39.18% | 40.46% | |
Nasdaq US Benchmark Food, Beverage and Tobacco Index | -6.99% | 4.35% | 7.80% | 7.07% | 45.60% | 50.99% | |
Nasdaq US Benchmark Index | -20.68% | -18.01% | 8.68% | 10.51% | 51.60% | 82.63% |
Sector Allocation | % of Total Investments |
Consumer Staples | 96.0% |
Materials | 4.0 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Kellogg Co. | 8.3% |
General Mills, Inc. | 8.1 |
Molson Coors Beverage Co., Class B | 7.8 |
Campbell Soup Co. | 7.6 |
Bunge Ltd. | 7.2 |
Hostess Brands, Inc. | 4.3 |
J.M. Smucker (The) Co. | 4.2 |
Hershey (The) Co. | 4.2 |
Conagra Brands, Inc. | 4.1 |
PepsiCo, Inc. | 4.1 |
Total | 59.9% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | |||||||
Average Annual Total Returns | Cumulative Total Returns | ||||||
6 Months Ended 9/30/22 | 1 Year Ended 9/30/22 | 5 Years Ended 9/30/22 | Inception (9/20/16) to 9/30/22 | 5 Years Ended 9/30/22 | Inception (9/20/16) to 9/30/22 | ||
Fund Performance | |||||||
NAV | -6.13% | 31.67% | 7.40% | 5.56% | 42.89% | 38.54% | |
Market Price | -6.13% | 31.60% | 7.40% | 5.56% | 42.89% | 38.55% | |
Index Performance | |||||||
Nasdaq US Smart Oil & Gas IndexTM | -6.01% | 32.32% | 8.09% | 6.22% | 47.52% | 43.90% | |
Nasdaq US Benchmark Energy Index | -2.28% | 42.75% | 6.19% | 6.02% | 35.06% | 42.23% | |
Nasdaq US Benchmark Index | -20.68% | -18.01% | 8.68% | 10.51% | 51.60% | 82.63% |
Sector Allocation | % of Total Investments |
Energy | 100.0% |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
PBF Energy, Inc., Class A | 9.3% |
Occidental Petroleum Corp. | 7.8 |
Chevron Corp. | 6.8 |
Exxon Mobil Corp. | 6.8 |
Williams (The) Cos., Inc. | 6.2 |
Marathon Petroleum Corp. | 4.4 |
ConocoPhillips | 4.2 |
Kinder Morgan, Inc. | 4.1 |
Marathon Oil Corp. | 4.0 |
Valero Energy Corp. | 4.0 |
Total | 57.6% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | |||||||
Average Annual Total Returns | Cumulative Total Returns | ||||||
6 Months Ended 9/30/22 | 1 Year Ended 9/30/22 | 5 Years Ended 9/30/22 | Inception (9/20/16) to 9/30/22 | 5 Years Ended 9/30/22 | Inception (9/20/16) to 9/30/22 | ||
Fund Performance | |||||||
NAV | -9.33% | -4.71% | 4.63% | 4.14% | 25.40% | 27.73% | |
Market Price | -9.08% | -4.71% | 4.65% | 4.16% | 25.50% | 27.84% | |
Index Performance | |||||||
Nasdaq US Smart Pharmaceuticals IndexTM | -9.00% | -4.03% | 5.31% | 4.83% | 29.53% | 32.91% | |
Nasdaq US Benchmark Pharmaceuticals Index | -5.48% | 10.20% | 10.94% | 11.18% | 68.05% | 89.45% | |
Nasdaq US Benchmark Index | -20.68% | -18.01% | 8.68% | 10.51% | 51.60% | 82.63% |
Sector Allocation | % of Total Investments |
Health Care | 100.0% |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Bristol-Myers Squibb Co. | 8.7% |
Johnson & Johnson | 8.4 |
Gilead Sciences, Inc. | 8.0 |
Ironwood Pharmaceuticals, Inc. | 8.0 |
Amgen, Inc. | 7.8 |
Eli Lilly & Co. | 4.4 |
Vertex Pharmaceuticals, Inc. | 4.3 |
Merck & Co., Inc. | 4.2 |
AbbVie, Inc. | 4.1 |
Prestige Consumer Healthcare, Inc. | 4.1 |
Total | 62.0% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | |||||||
Average Annual Total Returns | Cumulative Total Returns | ||||||
6 Months Ended 9/30/22 | 1 Year Ended 9/30/22 | 5 Years Ended 9/30/22 | Inception (9/20/16) to 9/30/22 | 5 Years Ended 9/30/22 | Inception (9/20/16) to 9/30/22 | ||
Fund Performance | |||||||
NAV | -30.21% | -36.36% | 2.65% | 2.36% | 13.94% | 15.07% | |
Market Price | -30.48% | -36.70% | 2.55% | 2.27% | 13.42% | 14.48% | |
Index Performance | |||||||
S-Network Global E-Commerce IndexTM(1)(2) | -30.51% | -48.55% | N/A | N/A | N/A | N/A | |
MSCI ACWI Index(3) | -21.41% | -20.66% | 4.44% | 6.89% | 24.27% | 49.40% | |
Nasdaq US Smart Retail Index | -18.65% | -18.63% | 8.39% | 7.19% | 49.61% | 52.00% | |
Nasdaq US Benchmark Retail Index | -21.41% | -21.95% | 12.90% | 12.58% | 83.46% | 104.28% | |
Nasdaq US Benchmark Index | -20.68% | -18.01% | 8.68% | 10.51% | 51.60% | 82.63% |
(1) | On January 26, 2022, the Fund’s underlying index changed from the Nasdaq US Smart Retail Index to the S-Network Global E-Commerce IndexTM. Therefore, performance and historical returns shown for the periods prior to January 26, 2022, are not necessarily indicative of the performance of the Fund, based on its current Index, would have generated. |
(2) | Because the Fund’s new underlying Index had an inception date of April 30, 2021, performance data is not available for all the periods shown in the table for the Index because performance data does not exist for some of the entire periods. |
(3) | The MSCI ACWI Index serves as the Fund’s new primary benchmark index. The Fund’s investment advisor determined that the MSCI ACWI Index provides a more appropriate comparison to Fund returns. |
Sector Allocation | % of Total Investments |
Consumer Discretionary | 37.2% |
Communication Services | 22.0 |
Industrials | 17.7 |
Information Technology | 13.9 |
Real Estate | 5.2 |
Consumer Staples | 2.0 |
Financials | 2.0 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Uber Technologies, Inc. | 2.3% |
Pinterest, Inc., Class A | 2.2 |
MercadoLibre, Inc. | 2.2 |
PayPal Holdings, Inc. | 2.2 |
Twitter, Inc. | 2.2 |
CoStar Group, Inc. | 2.2 |
Airbnb, Inc., Class A | 2.1 |
KE Holdings, Inc., ADR | 2.0 |
Walmart, Inc. | 2.0 |
Coupang, Inc. | 2.0 |
Total | 21.4% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | |||||||
Average Annual Total Returns | Cumulative Total Returns | ||||||
6 Months Ended 9/30/22 | 1 Year Ended 9/30/22 | 5 Years Ended 9/30/22 | Inception (9/20/16) to 9/30/22 | 5 Years Ended 9/30/22 | Inception (9/20/16) to 9/30/22 | ||
Fund Performance | |||||||
NAV | -30.21% | -27.30% | 12.15% | 16.68% | 77.40% | 153.37% | |
Market Price | -30.30% | -27.41% | 12.14% | 16.68% | 77.34% | 153.37% | |
Index Performance | |||||||
Nasdaq US Smart Semiconductor IndexTM | -30.05% | -26.90% | 12.84% | 17.42% | 82.95% | 163.23% | |
Nasdaq US Benchmark Semiconductors IndexTM | -38.06% | -29.82% | 13.09% | 16.23% | 84.99% | 147.53% | |
Nasdaq US Benchmark Index | -20.68% | -18.01% | 8.68% | 10.51% | 51.60% | 82.63% |
Sector Allocation | % of Total Investments |
Information Technology | 98.6% |
Health Care | 1.4 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Texas Instruments, Inc. | 8.6% |
ON Semiconductor Corp. | 8.3 |
Broadcom, Inc. | 8.2 |
Skyworks Solutions, Inc. | 7.9 |
Intel Corp. | 7.4 |
Microchip Technology, Inc. | 4.3 |
Analog Devices, Inc. | 4.2 |
NXP Semiconductors N.V. | 4.1 |
Micron Technology, Inc. | 4.1 |
Qorvo, Inc. | 4.1 |
Total | 61.2% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | |||||||
Average Annual Total Returns | Cumulative Total Returns | ||||||
6 Months Ended 9/30/22 | 1 Year Ended 9/30/22 | 5 Years Ended 9/30/22 | Inception (9/20/16) to 9/30/22 | 5 Years Ended 9/30/22 | Inception (9/20/16) to 9/30/22 | ||
Fund Performance | |||||||
NAV | -26.84% | -22.74% | 0.54% | 3.92% | 2.72% | 26.06% | |
Market Price | -26.86% | -22.72% | 0.55% | 3.92% | 2.76% | 26.06% | |
Index Performance | |||||||
Nasdaq US Smart Transportation IndexTM | -26.81% | -22.59% | 0.96% | 4.40% | 4.90% | 29.65% | |
Nasdaq US Benchmark Industrial Transportation IndexTM | -24.02% | -10.78% | 8.89% | 12.52% | 53.10% | 103.57% | |
Nasdaq US Benchmark Index | -20.68% | -18.01% | 8.68% | 10.51% | 51.60% | 82.63% |
Sector Allocation | % of Total Long-Term Investments |
Industrials | 72.9% |
Consumer Discretionary | 27.1 |
Total | 100.0% |
Top Ten Holdings | % of Total Long-Term Investments |
PACCAR, Inc. | 9.0% |
Union Pacific Corp. | 8.2 |
CH Robinson Worldwide, Inc. | 8.0 |
CSX Corp. | 7.9 |
Ford Motor Co. | 6.9 |
United Rentals, Inc. | 4.4 |
JB Hunt Transport Services, Inc. | 4.2 |
Alaska Air Group, Inc. | 4.2 |
LKQ Corp. | 4.2 |
Lear Corp. | 4.1 |
Total | 61.1% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | ||
Cumulative Total Returns | ||
6 Months Ended 9/30/22 | Inception (1/25/22) to 9/30/22 | |
Fund Performance | ||
NAV | -31.24% | -34.55% |
Market Price | -31.54% | -34.47% |
Index Performance | ||
S-Network Streaming & Gaming Index | -31.07% | -33.92% |
MSCI ACWI Index | -21.41% | -19.86% |
Sector Allocation | % of Total Long-Term Investments |
Communication Services | 57.0% |
Consumer Discretionary | 28.9 |
Information Technology | 14.1 |
Total | 100.0% |
Top Ten Holdings | % of Total Long-Term Investments |
Netflix, Inc. | 6.5% |
Walt Disney (The) Co. | 5.1 |
Activision Blizzard, Inc. | 5.0 |
Nintendo Co., Ltd. | 4.9 |
Electronic Arts, Inc. | 4.8 |
Flutter Entertainment PLC | 4.6 |
NetEase, Inc., ADR | 4.5 |
Advanced Micro Devices, Inc. | 4.2 |
Sony Group Corp. | 4.1 |
NVIDIA Corp. | 4.0 |
Total | 47.7% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Beginning Account Value April 1, 2022 | Ending Account Value September 30, 2022 | Annualized Expense Ratio Based on the Six-Month Period | Expenses Paid During the Six-Month Period (a) | |
First Trust Nasdaq Bank ETF (FTXO) | ||||
Actual | $1,000.00 | $828.40 | 0.60% | $2.75 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.06 | 0.60% | $3.04 |
First Trust Nasdaq Food & Beverage ETF (FTXG) | ||||
Actual | $1,000.00 | $922.40 | 0.60% | $2.89 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.06 | 0.60% | $3.04 |
First Trust Nasdaq Oil & Gas ETF (FTXN) | ||||
Actual | $1,000.00 | $938.70 | 0.60% | $2.92 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.06 | 0.60% | $3.04 |
First Trust Nasdaq Pharmaceuticals ETF (FTXH) | ||||
Actual | $1,000.00 | $906.70 | 0.60% | $2.87 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.06 | 0.60% | $3.04 |
First Trust S-Network E-Commerce ETF (ISHP) | ||||
Actual | $1,000.00 | $697.90 | 0.60% | $2.55 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.06 | 0.60% | $3.04 |
First Trust Nasdaq Semiconductor ETF (FTXL) | ||||
Actual | $1,000.00 | $697.90 | 0.60% | $2.55 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.06 | 0.60% | $3.04 |
Beginning Account Value April 1, 2022 | Ending Account Value September 30, 2022 | Annualized Expense Ratio Based on the Six-Month Period | Expenses Paid During the Six-Month Period (a) | |
First Trust Nasdaq Transportation ETF (FTXR) | ||||
Actual | $1,000.00 | $731.60 | 0.60% | $2.60 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.06 | 0.60% | $3.04 |
First Trust S-Network Streaming & Gaming ETF (BNGE) | ||||
Actual | $1,000.00 | $687.60 | 0.70% | $2.96 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.56 | 0.70% | $3.55 |
(a) | Expenses are equal to the annualized expense ratios as indicated in the table multiplied by the average account value over the period (April 1, 2022 through September 30, 2022), multiplied by 183/365 (to reflect the six-month period). |
Shares | Description | Value | ||
COMMON STOCKS – 99.7% | ||||
Banks – 88.3% | ||||
259,239 | Bank of America Corp. | $7,829,018 | ||
178,509 | Citigroup, Inc. | 7,438,470 | ||
93,173 | Citizens Financial Group, Inc. | 3,201,424 | ||
108,506 | Comerica, Inc. | 7,714,777 | ||
67,043 | Cullen/Frost Bankers, Inc. | 8,864,425 | ||
8,238 | East West Bancorp, Inc. | 553,099 | ||
17,409 | Fifth Third Bancorp | 556,392 | ||
10,731 | First Citizens BancShares, Inc., Class A | 8,557,221 | ||
3,916 | First Republic Bank | 511,234 | ||
44,368 | Huntington Bancshares, Inc. | 584,770 | ||
76,611 | JPMorgan Chase & Co. | 8,005,849 | ||
492,539 | KeyCorp | 7,890,475 | ||
92,288 | M&T Bank Corp. | 16,272,220 | ||
522,050 | Old National Bancorp | 8,598,163 | ||
7,367 | Pinnacle Financial Partners, Inc. | 597,464 | ||
55,146 | PNC Financial Services Group (The), Inc. | 8,239,915 | ||
225,668 | Popular, Inc. | 16,261,636 | ||
804,154 | Regions Financial Corp. | 16,139,371 | ||
3,410 | Signature Bank | 514,910 | ||
6,525 | Silvergate Capital Corp., Class A (a) | 491,659 | ||
1,463 | SVB Financial Group (a) | 491,246 | ||
216,958 | Synovus Financial Corp. | 8,138,095 | ||
186,016 | Truist Financial Corp. | 8,099,137 | ||
191,033 | US Bancorp | 7,702,451 | ||
12,636 | Webster Financial Corp. | 571,147 | ||
398,674 | Wells Fargo & Co. | 16,034,668 | ||
7,749 | Western Alliance Bancorp | 509,419 | ||
158,332 | Zions Bancorp N.A. | 8,052,766 | ||
178,421,421 | ||||
Consumer Finance – 3.9% | ||||
86,705 | Discover Financial Services | 7,883,219 | ||
Thrifts & Mortgage Finance – 7.5% | ||||
1,779,983 | New York Community Bancorp, Inc. | 15,183,255 | ||
Total Investments – 99.7% | 201,487,895 | |||
(Cost $241,538,179) | ||||
�� | Net Other Assets and Liabilities – 0.3% | 550,560 | ||
Net Assets – 100.0% | $202,038,455 |
(a) | Non-income producing security. |
Total Value at 9/30/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 201,487,895 | $ 201,487,895 | $ — | $ — |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 99.9% | ||||
Beverages – 26.9% | ||||
20,201 | Boston Beer (The) Co., Inc., Class A (a) | $6,538,054 | ||
93,664 | Brown-Forman Corp., Class B | 6,235,212 | ||
65,794 | Celsius Holdings, Inc. (a) | 5,966,200 | ||
580,349 | Coca-Cola (The) Co. | 32,511,151 | ||
145,551 | Constellation Brands, Inc., Class A | 33,430,154 | ||
939,493 | Keurig Dr. Pepper, Inc. | 33,652,639 | ||
1,347,304 | Molson Coors Beverage Co., Class B | 64,657,119 | ||
76,654 | Monster Beverage Corp. (a) | 6,665,832 | ||
207,894 | PepsiCo, Inc. | 33,940,774 | ||
223,597,135 | ||||
Chemicals – 4.0% | ||||
582,994 | Corteva, Inc. | 33,318,107 | ||
Food & Staples Retailing – 0.7% | ||||
222,374 | US Foods Holding Corp. (a) | 5,879,569 | ||
Food Products – 67.7% | ||||
407,483 | Archer-Daniels-Midland Co. | 32,782,007 | ||
279,065 | Beyond Meat, Inc. (a) | 3,954,351 | ||
722,263 | Bunge Ltd. | 59,637,256 | ||
1,346,630 | Campbell Soup Co. | 63,453,206 | ||
1,041,696 | Conagra Brands, Inc. | 33,990,540 | ||
89,524 | Darling Ingredients, Inc. (a) | 5,922,013 | ||
156,422 | Freshpet, Inc. (a) | 7,835,178 | ||
876,819 | General Mills, Inc. | 67,173,104 | ||
159,407 | Hershey (The) Co. | 35,144,461 | ||
712,280 | Hormel Foods Corp. | 32,366,003 | ||
1,545,017 | Hostess Brands, Inc. (a) | 35,906,195 | ||
255,826 | J.M. Smucker (The) Co. | 35,153,051 | ||
984,700 | Kellogg Co. | 68,594,202 | ||
182,061 | Kraft Heinz (The) Co. | 6,071,734 | ||
85,620 | Lamb Weston Holdings, Inc. | 6,625,276 | ||
80,991 | McCormick & Co., Inc. | 5,772,228 | ||
578,941 | Mondelez International, Inc., Class A | 31,743,335 | ||
475,106 | Tyson Foods, Inc., Class A | 31,323,739 | ||
563,447,879 | ||||
Personal Products – 0.6% | ||||
260,989 | Herbalife Nutrition Ltd. (a) | 5,191,071 | ||
Total Investments – 99.9% | 831,433,761 | |||
(Cost $910,254,789) | ||||
Net Other Assets and Liabilities – 0.1% | 548,435 | |||
Net Assets – 100.0% | $831,982,196 |
(a) | Non-income producing security. |
Total Value at 9/30/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 831,433,761 | $ 831,433,761 | $ — | $ — |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 99.9% | ||||
Energy Equipment & Services – 1.7% | ||||
114,200 | Baker Hughes Co. | $2,393,632 | ||
132,261 | ChampionX Corp. | 2,588,348 | ||
95,742 | Halliburton Co. | 2,357,168 | ||
67,474 | Helmerich & Payne, Inc. | 2,494,514 | ||
163,249 | NOV, Inc. | 2,641,369 | ||
75,615 | Schlumberger N.V. | 2,714,578 | ||
796,854 | Transocean Ltd. (a) | 1,968,229 | ||
17,157,838 | ||||
Oil, Gas & Consumable Fuels – 98.2% | ||||
300,343 | Antero Midstream Corp. | 2,757,149 | ||
1,024,880 | Antero Resources Corp. (a) | 31,289,586 | ||
1,178,694 | APA Corp. | 40,299,548 | ||
67,777 | Callon Petroleum Co. (a) | 2,372,873 | ||
18,005 | Cheniere Energy, Inc. | 2,987,210 | ||
138,175 | Chesapeake Energy Corp. | 13,017,467 | ||
487,485 | Chevron Corp. | 70,036,970 | ||
42,934 | Civitas Resources, Inc. | 2,463,982 | ||
163,249 | CNX Resources Corp. (a) | 2,535,257 | ||
421,187 | ConocoPhillips | 43,104,278 | ||
910,685 | Coterra Energy, Inc. | 23,787,092 | ||
32,435 | Denbury, Inc. (a) | 2,797,843 | ||
618,482 | Devon Energy Corp. | 37,189,323 | ||
54,324 | Diamondback Energy, Inc. | 6,543,869 | ||
81,310 | EOG Resources, Inc. | 9,084,766 | ||
60,348 | EQT Corp. | 2,459,181 | ||
311,176 | Equitrans Midstream Corp. | 2,327,596 | ||
796,434 | Exxon Mobil Corp. | 69,536,653 | ||
23,880 | Hess Corp. | 2,602,681 | ||
705,014 | HF Sinclair Corp. | 37,957,954 | ||
2,516,307 | Kinder Morgan, Inc. | 41,871,348 | ||
6,520,327 | Kosmos Energy Ltd. (a) | 33,710,091 | ||
37,171 | Laredo Petroleum, Inc. (a) | 2,336,197 | ||
1,801,435 | Marathon Oil Corp. | 40,676,402 | ||
457,553 | Marathon Petroleum Corp. | 45,448,739 | ||
551,520 | Matador Resources, Co. | 26,980,358 | ||
365,582 | Murphy Oil Corp. | 12,857,519 | ||
1,298,557 | Occidental Petroleum Corp. | 79,796,328 | ||
164,949 | ONEOK, Inc. | 8,451,987 | ||
207,040 | Ovintiv, Inc. | 9,523,840 | ||
2,698,986 | PBF Energy, Inc., Class A (a) | 94,896,348 | ||
42,475 | PDC Energy, Inc. | 2,454,630 | ||
1,817,631 | Permian Resources Corp. (a) | 12,359,891 | ||
32,241 | Phillips 66 | 2,602,494 | ||
168,984 | Pioneer Natural Resources Co. | 36,590,106 | ||
87,784 | Range Resources Corp. | 2,217,424 | ||
1,046,033 | SM Energy Co. | 39,341,301 | ||
385,129 | Southwestern Energy Co. (a) | 2,356,989 | ||
42,274 | Targa Resources Corp. | 2,550,813 | ||
721,150 | Tellurian, Inc. (a) | 1,723,548 | ||
379,785 | Valero Energy Corp. | 40,580,027 |
Shares | Description | Value | ||
Oil, Gas & Consumable Fuels (Continued) | ||||
2,222,849 | Williams (The) Cos., Inc. | $63,640,167 | ||
1,008,117,825 | ||||
Total Investments – 99.9% | 1,025,275,663 | |||
(Cost $1,044,155,289) | ||||
Net Other Assets and Liabilities – 0.1% | 771,111 | |||
Net Assets – 100.0% | $1,026,046,774 |
(a) | Non-income producing security. |
Total Value at 9/30/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 1,025,275,663 | $ 1,025,275,663 | $ — | $ — |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 99.9% | ||||
Biotechnology – 45.7% | ||||
11,076 | AbbVie, Inc. | $1,486,510 | ||
22,471 | Alkermes PLC (a) | 501,777 | ||
12,395 | Amgen, Inc. | 2,793,833 | ||
5,963 | BioMarin Pharmaceutical, Inc. (a) | 505,484 | ||
7,264 | Blueprint Medicines Corp. (a) | 478,625 | ||
22,143 | Emergent BioSolutions, Inc. (a) | 464,782 | ||
46,928 | Gilead Sciences, Inc. | 2,894,988 | ||
8,983 | Horizon Therapeutics PLC (a) | 555,958 | ||
12,509 | Ionis Pharmaceuticals, Inc. (a) | 553,273 | ||
276,814 | Ironwood Pharmaceuticals, Inc. (a) | 2,867,793 | ||
3,447 | Seagen, Inc. (a) | 471,653 | ||
6,572 | United Therapeutics Corp. (a) | 1,376,045 | ||
5,286 | Vertex Pharmaceuticals, Inc. (a) | 1,530,508 | ||
16,481,229 | ||||
Health Care Providers & Services – 3.9% | ||||
21,059 | Cardinal Health, Inc. | 1,404,214 | ||
Pharmaceuticals – 50.3% | ||||
44,185 | Bristol-Myers Squibb Co. | 3,141,112 | ||
6,044 | Catalent, Inc. (a) | 437,344 | ||
20,599 | Corcept Therapeutics, Inc. (a) | 528,158 | ||
35,154 | Elanco Animal Health, Inc. (a) | 436,261 | ||
4,944 | Eli Lilly & Co. | 1,598,642 | ||
3,427 | Jazz Pharmaceuticals PLC (a) | 456,785 | ||
18,461 | Johnson & Johnson | 3,015,789 | ||
17,447 | Merck & Co., Inc. | 1,502,536 | ||
52,200 | Organon & Co. | 1,221,480 | ||
10,135 | Pacira BioSciences, Inc. (a) | 539,081 | ||
14,214 | Perrigo Co. PLC | 506,871 | ||
32,926 | Pfizer, Inc. | 1,440,842 | ||
29,444 | Prestige Consumer Healthcare, Inc. (a) | 1,467,195 | ||
155,943 | Viatris, Inc. | 1,328,634 | ||
3,398 | Zoetis, Inc. | 503,889 | ||
18,124,619 | ||||
Total Investments – 99.9% | 36,010,062 | |||
(Cost $39,883,862) | ||||
Net Other Assets and Liabilities – 0.1% | 25,513 | |||
Net Assets – 100.0% | $36,035,575 |
(a) | Non-income producing security. |
Total Value at 9/30/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 36,010,062 | $ 36,010,062 | $ — | $ — |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 98.2% | ||||
Air Freight & Logistics – 4.5% | ||||
2,264 | Deutsche Post AG (a) | $68,236 | ||
361 | FedEx Corp. | 53,598 | ||
449 | United Parcel Service, Inc., Class B | 72,531 | ||
194,365 | ||||
Banks – 1.1% | ||||
3,421 | KakoaBank Corp. (a) (b) | 47,390 | ||
Commercial Services & Supplies – 1.8% | ||||
726 | Copart, Inc. (b) | 77,246 | ||
Consumer Finance – 0.9% | ||||
14,518 | Lufax Holding Ltd., ADR | 36,876 | ||
Entertainment – 1.4% | ||||
1,093 | Sea Ltd., ADR (b) | 61,263 | ||
Food & Staples Retailing – 2.0% | ||||
667 | Walmart, Inc. | 86,510 | ||
Hotels, Restaurants & Leisure – 7.8% | ||||
858 | Airbnb, Inc., Class A (b) | 90,124 | ||
47 | Booking Holdings, Inc. (b) | 77,231 | ||
865 | Expedia Group, Inc. (b) | 81,042 | ||
3,140 | Trip.com Group Ltd., ADR (b) | 85,753 | ||
334,150 | ||||
Interactive Media & Services – 20.6% | ||||
704 | Alphabet, Inc., Class A (b) | 67,338 | ||
11,930 | Auto Trader Group PLC (a) (c) (d) | 67,656 | ||
541 | Baidu, Inc., ADR (b) | 63,562 | ||
1,045 | IAC, Inc. (b) | 57,872 | ||
3,079 | Kanzhun Ltd., ADR (b) | 51,974 | ||
486 | Meta Platforms, Inc., Class A (b) | 65,940 | ||
443 | NAVER Corp. (a) | 59,015 | ||
4,126 | Pinterest, Inc., Class A (b) | 96,136 | ||
999 | REA Group Ltd. (a) | 72,714 | ||
11,670 | Rightmove PLC (a) | 62,258 | ||
5,538 | Snap, Inc., Class A (b) | 54,383 | ||
2,156 | Twitter, Inc. (b) | 94,519 | ||
6,796 | Yandex N.V., Class A (a) (b) (e) (f) | 3,222 | ||
26,200 | Z Holdings Corp. (a) | 69,447 | ||
886,036 | ||||
Internet & Direct Marketing Retail – 21.2% | ||||
683 | Alibaba Group Holding Ltd., ADR (b) | 54,633 | ||
117,334 | Alibaba Health Information Technology Ltd. (a) (b) | 53,448 |
Shares | Description | Value | ||
Internet & Direct Marketing Retail (Continued) | ||||
719 | Amazon.com, Inc. (b) | $81,247 | ||
5,162 | Coupang, Inc. (b) | 86,051 | ||
2,118 | Delivery Hero SE (a) (b) (c) (d) | 77,365 | ||
1,100 | DoorDash, Inc., Class A (b) | 54,395 | ||
1,908 | eBay, Inc. | 70,233 | ||
10,206 | JD Health International, Inc. (a) (b) (c) (d) | 58,137 | ||
2,651 | JD.com, Inc, Class A (a) | 66,880 | ||
3,407 | Meituan, Class B (a) (b) (c) (d) | 71,603 | ||
116 | MercadoLibre, Inc. (b) | 96,022 | ||
1,344 | Pinduoduo, Inc., ADR (b) | 84,107 | ||
1,149 | Prosus N.V. (a) | 59,779 | ||
913,900 | ||||
IT Services – 13.8% | ||||
57 | Adyen N.V. (a) (b) (c) (d) | 71,088 | ||
1,218 | Block, Inc. (b) | 66,978 | ||
891 | Fidelity National Information Services, Inc. | 67,333 | ||
896 | Fiserv, Inc. (b) | 83,839 | ||
384 | FleetCor Technologies, Inc. (b) | 67,649 | ||
736 | Global Payments, Inc. | 79,525 | ||
1,114 | PayPal Holdings, Inc. (b) | 95,882 | ||
2,367 | Shopify, Inc., Class A (b) | 63,767 | ||
596,061 | ||||
Marine – 1.5% | ||||
35 | AP Moller - Maersk A.S., Class B (a) | 63,603 | ||
Multiline Retail – 1.4% | ||||
1,129 | Next PLC (a) | 59,923 | ||
Professional Services – 2.2% | ||||
1,356 | CoStar Group, Inc. (b) | 94,445 | ||
Real Estate Management & Development – 3.6% | ||||
4,957 | KE Holdings, Inc., ADR (b) | 86,847 | ||
2,348 | Zillow Group, Inc., Class C (b) | 67,176 | ||
154,023 | ||||
Road & Rail – 5.9% | ||||
738 | Canadian National Railway Co. | 79,701 | ||
3,677 | Uber Technologies, Inc. (b) | 97,441 | ||
393 | Union Pacific Corp. | 76,564 | ||
253,706 | ||||
Specialty Retail – 4.9% | ||||
1,180 | Best Buy Co., Inc. | 74,741 | ||
881 | CarMax, Inc. (b) | 58,164 | ||
654 | Williams-Sonoma, Inc. | 77,074 | ||
209,979 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Textiles, Apparel & Luxury Goods – 1.9% | ||||
288 | Lululemon Athletica, Inc. (b) | $80,513 | ||
Trading Companies & Distributors – 1.7% | ||||
4,900 | MonotaRO Co., Ltd. (a) | 75,190 | ||
Total Common Stocks | 4,225,179 | |||
(Cost $6,497,155) | ||||
REAL ESTATE INVESTMENT TRUSTS – 1.6% | ||||
Equity Real Estate Investment Trusts – 1.6% | ||||
682 | Prologis, Inc. | 69,291 | ||
(Cost $105,008) | ||||
Total Investments – 99.8% | 4,294,470 | |||
(Cost $6,602,163) | ||||
Net Other Assets and Liabilities – 0.2% | 9,763 | |||
Net Assets – 100.0% | $4,304,233 |
(a) | This security is fair valued by the Advisor’s Pricing Committee in accordance with procedures approved by the Trust’s Board of Trustees and in accordance with provisions of the Investment Company Act of 1940 and rules thereunder, as amended. At September 30, 2022, securities noted as such are valued at $1,106,954 or 25.7% of net assets. Certain of these securities are fair valued using a factor provided by a third-party pricing service due to the change in value between the foreign markets’ close and the New York Stock Exchange close exceeding a certain threshold. On days when this threshold is not exceeded, these securities are typically valued at the last sale price on the exchange on which they are principally traded. |
(b) | Non-income producing security. |
(c) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933, as amended (the “1933 Act”). |
(d) | This security is exempt from registration upon resale under Rule 144A of the 1933 Act and may be resold in transactions exempt from registration, normally to qualified institutional buyers. This security is not restricted on the foreign exchange where it trades freely without any additional registration. As such, it does not require the additional disclosure required of restricted securities. |
(e) | Pursuant to procedures adopted by the Trust’s Board of Trustees, this security has been determined to be illiquid by the Advisor. |
(f) | This security’s value was determined using significant unobservable inputs (see Note 2A – Portfolio Valuation in the Notes to Financial Statements). |
ADR | American Depositary Receipt |
Currency Exposure Diversification | % of Total Investments |
United States Dollar | 72.4% |
Euro | 6.4 |
Hong Kong Dollar | 5.8 |
British Pound Sterling | 4.4 |
Japanese Yen | 3.4 |
South Korean Won | 2.5 |
Canadian Dollar | 1.9 |
Australian Dollar | 1.7 |
Danish Krone | 1.5 |
Total | 100.0% |
Total Value at 9/30/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks: | ||||
Air Freight & Logistics | $ 194,365 | $ 126,129 | $ 68,236 | $ — |
Banks | 47,390 | — | 47,390 | — |
Interactive Media & Services | 886,036 | 551,724 | 331,090 | 3,222 |
Internet & Direct Marketing Retail | 913,900 | 526,688 | 387,212 | — |
IT Services | 596,061 | 524,973 | 71,088 | — |
Marine | 63,603 | — | 63,603 | — |
Multiline Retail | 59,923 | — | 59,923 | — |
Trading Companies & Distributors | 75,190 | — | 75,190 | — |
Other Industry Categories* | 1,388,711 | 1,388,711 | — | — |
Real Estate Investment Trusts* | 69,291 | 69,291 | — | — |
Total Investments | $ 4,294,470 | $ 3,187,516 | $ 1,103,732 | $ 3,222 |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 99.9% | ||||
Electronic Equipment, Instruments & Components – 5.0% | ||||
63,631 | Coherent Corp. (a) | $2,217,540 | ||
12,635 | IPG Photonics Corp. (a) | 1,065,762 | ||
3,283,302 | ||||
Life Sciences Tools & Services – 1.4% | ||||
21,715 | Azenta, Inc. | 930,705 | ||
Semiconductors & Semiconductor Equipment – 93.5% | ||||
13,487 | Advanced Micro Devices, Inc. (a) | 854,536 | ||
16,862 | Ambarella, Inc. (a) | 947,307 | ||
19,833 | Analog Devices, Inc. | 2,763,530 | ||
28,243 | Applied Materials, Inc. | 2,313,949 | ||
12,043 | Broadcom, Inc. | 5,347,212 | ||
12,064 | Entegris, Inc. | 1,001,553 | ||
188,301 | Intel Corp. | 4,852,517 | ||
8,733 | KLA Corp. | 2,642,868 | ||
2,766 | Lam Research Corp. | 1,012,356 | ||
21,236 | Lattice Semiconductor Corp. (a) | 1,045,024 | ||
24,447 | Marvell Technology, Inc. | 1,049,021 | ||
46,058 | Microchip Technology, Inc. | 2,810,920 | ||
53,163 | Micron Technology, Inc. | 2,663,466 | ||
2,526 | Monolithic Power Systems, Inc. | 917,948 | ||
7,583 | NVIDIA Corp. | 920,500 | ||
18,260 | NXP Semiconductors N.V. | 2,693,533 | ||
87,401 | ON Semiconductor Corp. (a) | 5,447,704 | ||
16,002 | Power Integrations, Inc. | 1,029,249 | ||
33,474 | Qorvo, Inc. (a) | 2,658,170 | ||
22,721 | QUALCOMM, Inc. | 2,567,019 | ||
9,133 | Silicon Laboratories, Inc. (a) | 1,127,378 | ||
10,757 | SiTime Corp. (a) | 846,899 | ||
60,990 | Skyworks Solutions, Inc. | 5,200,617 | ||
9,901 | Synaptics, Inc. (a) | 980,298 | ||
13,523 | Teradyne, Inc. | 1,016,254 | ||
36,381 | Texas Instruments, Inc. | 5,631,051 | ||
10,087 | Wolfspeed, Inc. (a) | 1,042,592 | ||
61,383,471 | ||||
Total Investments – 99.9% | 65,597,478 | |||
(Cost $88,661,939) | ||||
Net Other Assets and Liabilities – 0.1% | 46,310 | |||
Net Assets – 100.0% | $65,643,788 |
(a) | Non-income producing security. |
Total Value at 9/30/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 65,597,478 | $ 65,597,478 | $ — | $ — |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 99.9% | ||||
Air Freight & Logistics – 19.2% | ||||
56,927 | CH Robinson Worldwide, Inc. | $5,482,639 | ||
31,579 | Expeditors International of Washington, Inc. | 2,788,742 | ||
15,413 | FedEx Corp. | 2,288,368 | ||
16,704 | United Parcel Service, Inc., Class B | 2,698,364 | ||
13,258,113 | ||||
Airlines – 9.1% | ||||
74,590 | Alaska Air Group, Inc. (a) | 2,920,199 | ||
57,723 | American Airlines Group, Inc. (a) | 694,985 | ||
24,133 | Delta Air Lines, Inc. (a) | 677,172 | ||
96,254 | JetBlue Airways Corp. (a) | 638,164 | ||
20,431 | Southwest Airlines Co. (a) | 630,092 | ||
21,417 | United Airlines Holdings, Inc. (a) | 696,695 | ||
6,257,307 | ||||
Auto Components – 10.1% | ||||
8,025 | Aptiv PLC (a) | 627,635 | ||
231,584 | Goodyear Tire & Rubber (The) Co. (a) | 2,336,682 | ||
23,436 | Lear Corp. | 2,805,055 | ||
86,986 | Luminar Technologies, Inc. (a) (b) | 633,693 | ||
67,980 | QuantumScape Corp. (a) (b) | 571,712 | ||
6,974,777 | ||||
Automobiles – 12.8% | ||||
83,037 | Fisker, Inc. (a) (b) | 626,929 | ||
426,394 | Ford Motor Co. | 4,775,613 | ||
85,033 | General Motors Co. | 2,728,709 | ||
2,721 | Tesla, Inc. (a) | 721,745 | ||
8,852,996 | ||||
Distributors – 4.2% | ||||
61,051 | LKQ Corp. | 2,878,555 | ||
Machinery – 9.7% | ||||
139,892 | Nikola Corp. (a) (b) | 492,420 | ||
74,257 | PACCAR, Inc. | 6,214,568 | ||
6,706,988 | ||||
Road & Rail – 30.4% | ||||
205,306 | CSX Corp. | 5,469,352 | ||
18,671 | JB Hunt Transport Services, Inc. | 2,920,518 | ||
13,364 | Norfolk Southern Corp. | 2,801,763 | ||
2,763 | Old Dominion Freight Line, Inc. | 687,351 | ||
3,625 | Saia, Inc. (a) | 688,750 | ||
28,944 | Union Pacific Corp. | 5,638,870 | ||
61,983 | XPO Logistics, Inc. (a) | 2,759,483 | ||
20,966,087 |
Shares | Description | Value | ||
Trading Companies & Distributors – 4.4% | ||||
11,126 | United Rentals, Inc. (a) | $3,005,355 | ||
Total Common Stocks | 68,900,178 | |||
(Cost $93,675,535) | ||||
MONEY MARKET FUNDS – 2.6% | ||||
1,798,468 | Goldman Sachs Financial Square Treasury Obligations Fund - Institutional Class - 2.77% (c) (d) | 1,798,468 | ||
(Cost $1,798,468) | ||||
Total Investments – 102.5% | 70,698,646 | |||
(Cost $95,474,003) | ||||
Net Other Assets and Liabilities – (2.5)% | (1,711,979) | |||
Net Assets – 100.0% | $68,986,667 |
(a) | Non-income producing security. |
(b) | All or a portion of this security is on loan (see Note 2E - Securities Lending in the Notes to Financial Statements). The remaining contractual maturity of all of the securities lending transactions is overnight and continuous. The aggregate value of such securities is $1,747,894 and the total value of the collateral held by the Fund is $1,798,468. |
(c) | Rate shown reflects yield as of September 30, 2022. |
(d) | This security serves as collateral for securities on loan. |
Securities Lending Agency Agreement | |
Total gross amount presented on the Statements of Assets and Liabilities (1) | $1,747,894 |
Non-cash Collateral (2) | (1,747,894) |
Net Amount | $— |
(1) | The amount presented on the Statements of Assets and Liabilities, which is included in “Investments, at value,” is not offset and is shown on a gross basis. |
(2) | At September 30, 2022, the value of the collateral received from each borrower exceeded the value of the related securities loaned. This amount is disclosed on the Portfolio of Investments. |
Total Value at 9/30/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 68,900,178 | $ 68,900,178 | $ — | $ — |
Money Market Funds | 1,798,468 | 1,798,468 | — | — |
Total Investments | $ 70,698,646 | $ 70,698,646 | $— | $— |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 99.7% | ||||
Australia – 3.7% | ||||
4,781 | Aristocrat Leisure Ltd. (a) | $100,815 | ||
25,623 | Tabcorp Holdings Ltd. (a) | 15,366 | ||
116,181 | ||||
Cayman Islands – 15.1% | ||||
2,829 | Agora, Inc., ADR (b) | 10,269 | ||
2,183 | Bilibili, Inc., ADR (b) | 33,444 | ||
3,618 | Hello Group, Inc., ADR | 16,715 | ||
4,267 | iQIYI, Inc., ADR (b) | 11,564 | ||
647 | JOYY, Inc., ADR | 16,822 | ||
15,275 | Kuaishou Technology (a) (b) (c) (d) | 97,976 | ||
1,885 | NetEase, Inc., ADR | 142,506 | ||
3,771 | Tencent Holdings Ltd. (a) | 127,370 | ||
5,896 | Tencent Music Entertainment Group, ADR (b) | 23,938 | ||
480,604 | ||||
Gibraltar – 0.3% | ||||
9,608 | 888 Holdings PLC (a) (b) | 9,935 | ||
Greece – 0.5% | ||||
1,450 | OPAP S.A. (a) | 17,389 | ||
Ireland – 4.6% | ||||
1,346 | Flutter Entertainment PLC (a) (b) | 147,694 | ||
Isle Of Man (U.K.) – 1.7% | ||||
4,602 | Entain PLC (a) | 55,024 | ||
Japan – 11.0% | ||||
3,561 | Nexon Co., Ltd. (a) | 62,915 | ||
3,890 | Nintendo Co., Ltd. (a) | 156,900 | ||
2,023 | Sony Group Corp. (a) | 130,311 | ||
350,126 | ||||
Luxembourg – 3.0% | ||||
1,104 | Spotify Technology S.A. (b) | 95,275 | ||
Malta – 0.6% | ||||
2,348 | Kindred Group PLC, SDR (a) | 17,595 | ||
South Korea – 0.4% | ||||
295 | AfreecaTV Co., Ltd. (a) | 12,893 | ||
Sweden – 4.1% | ||||
1,439 | Evolution AB (a) (c) (d) | 113,749 | ||
830 | Viaplay Group AB (a) | 16,124 | ||
129,873 | ||||
Switzerland – 0.6% | ||||
2,236 | Sportradar Holding AG, Class A (b) | 19,677 | ||
United States – 54.1% | ||||
2,125 | Activision Blizzard, Inc. | 157,972 | ||
2,107 | Advanced Micro Devices, Inc. (b) | 133,500 |
Shares | Description | Value | ||
United States (Continued) | ||||
3,063 | Draftkings, Inc., Class A (b) | $46,374 | ||
1,330 | Electronic Arts, Inc. | 153,894 | ||
6,513 | fuboTV, Inc. (b) | 23,121 | ||
2,037 | GameStop Corp., Class A (b) (e) | 51,190 | ||
2,522 | iHeartMedia, Inc., Class A (b) | 18,486 | ||
4,380 | Intel Corp. | 112,873 | ||
763 | Light & Wonder, Inc. (b) | 32,717 | ||
3,698 | MGM Resorts International | 109,905 | ||
883 | Netflix, Inc. (b) | 207,893 | ||
1,053 | NVIDIA Corp. | 127,824 | ||
1,317 | Penn Entertainment, Inc. (b) | 36,231 | ||
2,620 | ROBLOX Corp., Class A (b) | 93,901 | ||
966 | Roku, Inc. (b) | 54,482 | ||
3,320 | Rush Street Interactive, Inc. (b) | 12,218 | ||
1,149 | Take-Two Interactive Software, Inc. (b) | 125,241 | ||
1,479 | Unity Software, Inc. (b) | 47,121 | ||
1,715 | Walt Disney (The) Co. (b) | 161,776 | ||
1,246 | Xperi Holding Corp. | 17,618 | ||
1,724,337 | ||||
Total Common Stocks | 3,176,603 | |||
(Cost $4,452,331) | ||||
WARRANTS – 0.0% | ||||
Australia – 0.0% | ||||
339 | PointsBet Holdings Ltd. (a) (b) (f) | 0 | ||
(Cost $0) | ||||
MONEY MARKET FUNDS – 1.6% | ||||
50,310 | Goldman Sachs Financial Square Treasury Obligations Fund - Institutional Class - 2.77% (g) (h) | 50,310 | ||
(Cost $50,310) | ||||
Total Investments – 101.3% | 3,226,913 | |||
(Cost $4,502,641) | ||||
Net Other Assets and Liabilities – (1.3)% | (41,885) | |||
Net Assets – 100.0% | $3,185,028 |
(a) | This security is fair valued by the Advisor’s Pricing Committee in accordance with procedures approved by the Trust’s Board of Trustees and in accordance with provisions of the Investment Company Act of 1940 and rules thereunder, as amended. At September 30, 2022, securities noted as such are valued at $1,082,056 or 34.0% of net assets. Certain of these securities are fair valued using a factor provided by a third-party pricing service due to the change in value between the foreign markets’ close and the New York Stock Exchange close exceeding a certain threshold. On days when this threshold is not exceeded, these securities are typically valued at the last sale price on the exchange on which they are principally traded. |
(b) | Non-income producing security. |
(c) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933, as amended (the “1933 Act”). |
(d) | This security is exempt from registration upon resale under Rule 144A of the 1933 Act and may be resold in transactions exempt from registration, normally to qualified institutional buyers. This security is not restricted on the foreign exchange where it trades freely without any additional registration. As such, it does not require the additional disclosure required of restricted securities. |
(e) | All or a portion of this security is on loan (See Note 2E - Securities Lending in the Notes to Financial Statements). The remaining contractual maturity of all of the securities lending transactions is overnight and continuous. The aggregate value of such securities is $48,627 and the total value of the collateral held by the Fund is $50,310. |
(f) | Pursuant to procedures adopted by the Trust’s Board of Trustees, this security has been determined to be illiquid by the Advisor. |
(g) | Rate shown reflects yield as of September 30, 2022. |
(h) | This security serves as collateral for securities on loan. |
ADR | American Depositary Receipt |
SDR | Swedish Depositary Receipt |
Securities Lending Agency Agreement | |
Total gross amount presented on the Statements of Assets and Liabilities (1) | $48,627 |
Non-cash Collateral (2) | (48,627) |
Net Amount | $— |
(1) | The amount presented on the Statements of Assets and Liabilities, which is included in “Investments, at value,” is not offset and is shown on a gross basis. |
(2) | At September 30, 2022, the value of the collateral received from each borrower exceeded the value of the related securities loaned. This amount is disclosed on the Portfolio of Investments. |
Currency Exposure Diversification | % of Total Investments |
United States Dollar | 66.5% |
Japanese Yen | 10.8 |
Hong Kong Dollar | 7.0 |
British Pound Sterling | 6.6 |
Swedish Krona | 4.6 |
Australian Dollar | 3.6 |
Euro | 0.5 |
South Korean Won | 0.4 |
Total | 100.0% |
Total Value at 9/30/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks: | ||||
Cayman Islands | $ 480,604 | $ 255,258 | $ 225,346 | $ — |
Luxembourg | 95,275 | 95,275 | — | — |
Switzerland | 19,677 | 19,677 | — | — |
United States | 1,724,337 | 1,724,337 | — | — |
Other Country Categories* | 856,710 | — | 856,710 | — |
Warrants* | —** | — | —** | — |
Money Market Funds | 50,310 | 50,310 | — | — |
Total Investments | $ 3,226,913 | $ 2,144,857 | $ 1,082,056 | $— |
* | See Portfolio of Investments for country breakout. |
** | Investment is valued at $0. |
First Trust Nasdaq Bank ETF (FTXO) | First Trust Nasdaq Food & Beverage ETF (FTXG) | First Trust Nasdaq Oil & Gas ETF (FTXN) | |||
ASSETS: | |||||
Investments, at value | $ 201,487,895 | $ 831,433,761 | $ 1,025,275,663 | ||
Cash | 106,659 | 289,254 | 524,538 | ||
Foreign currency | — | — | — | ||
Receivables: | |||||
Dividends | 555,123 | 692,738 | 799,722 | ||
Dividend reclaims | — | — | — | ||
Securities lending income | — | — | — | ||
Investment securities sold | — | — | 6,125,509 | ||
Total Assets | 202,149,677 | 832,415,753 | 1,032,725,432 | ||
LIABILITIES: | |||||
Payables: | |||||
Investment advisory fees | 111,222 | 433,557 | 549,373 | ||
Collateral for securities on loan | — | — | — | ||
Fund shares redeemed | — | — | 6,129,285 | ||
Total Liabilities | 111,222 | 433,557 | 6,678,658 | ||
NET ASSETS | $202,038,455 | $831,982,196 | $1,026,046,774 | ||
NET ASSETS consist of: | |||||
Paid-in capital | $ 347,814,682 | $ 944,804,174 | $ 1,007,971,652 | ||
Par value | 78,000 | 336,000 | 418,500 | ||
Accumulated distributable earnings (loss) | (145,854,227) | (113,157,978) | 17,656,622 | ||
NET ASSETS | $202,038,455 | $831,982,196 | $1,026,046,774 | ||
NET ASSET VALUE, per share | $25.90 | $24.76 | $24.52 | ||
Number of shares outstanding (unlimited number of shares authorized, par value $0.01 per share) | 7,800,002 | 33,600,002 | 41,850,002 | ||
Investments, at cost | $241,538,179 | $910,254,789 | $1,044,155,289 | ||
Foreign currency, at cost (proceeds) | $— | $— | $— | ||
Securities on loan, at value | $— | $— | $— |
First Trust Nasdaq Pharmaceuticals ETF (FTXH) | First Trust S-Network E-Commerce ETF (ISHP) | First Trust Nasdaq Semiconductor ETF (FTXL) | First Trust Nasdaq Transportation ETF (FTXR) | First Trust S-Network Streaming & Gaming ETF (BNGE) | ||||
$ 36,010,062 | $ 4,294,470 | $ 65,597,478 | $ 70,698,646 | $ 3,226,913 | ||||
21,066 | 4,603 | 56,583 | 45,100 | 6,314 | ||||
— | 479 | — | — | — | ||||
22,611 | 1,886 | 26,275 | 64,225 | 3,856 | ||||
287 | 5,165 | — | 80 | 203 | ||||
— | — | — | 15,789 | 71 | ||||
— | — | — | — | — | ||||
36,054,026 | 4,306,603 | 65,680,336 | 70,823,840 | 3,237,357 | ||||
18,451 | 2,370 | 36,548 | 38,705 | 2,019 | ||||
— | — | — | 1,798,468 | 50,310 | ||||
— | — | — | — | — | ||||
18,451 | 2,370 | 36,548 | 1,837,173 | 52,329 | ||||
$ 36,035,575 | $ 4,304,233 | $ 65,643,788 | $ 68,986,667 | $ 3,185,028 | ||||
$ 40,480,925 | $ 13,575,748 | $ 102,719,744 | $ 168,269,038 | $ 4,617,862 | ||||
15,000 | 2,000 | 13,500 | 29,500 | 2,000 | ||||
(4,460,350) | (9,273,515) | (37,089,456) | (99,311,871) | (1,434,834) | ||||
$ 36,035,575 | $ 4,304,233 | $ 65,643,788 | $ 68,986,667 | $ 3,185,028 | ||||
$24.02 | $21.52 | $48.62 | $23.39 | $15.92 | ||||
1,500,002 | 200,002 | 1,350,002 | 2,950,002 | 200,002 | ||||
$39,883,862 | $6,602,163 | $88,661,939 | $95,474,003 | $4,502,641 | ||||
$— | $480 | $— | $— | $— | ||||
$— | $— | $— | $1,747,894 | $48,627 |
First Trust Nasdaq Bank ETF (FTXO) | First Trust Nasdaq Food & Beverage ETF (FTXG) | First Trust Nasdaq Oil & Gas ETF (FTXN) | ||||
INVESTMENT INCOME: | ||||||
Dividends | $ 4,021,295 | $ 8,292,886 | $ 19,920,967 | |||
Interest | 2,162 | 6,766 | 9,185 | |||
Securities lending income (net of fees) | — | — | — | |||
Foreign withholding tax | (28,122) | — | — | |||
Other | — | — | — | |||
Total investment income | 3,995,335 | 8,299,652 | 19,930,152 | |||
EXPENSES: | ||||||
Investment advisory fees | 777,342 | 2,183,936 | 3,402,131 | |||
Total expenses | 777,342 | 2,183,936 | 3,402,131 | |||
NET INVESTMENT INCOME (LOSS) | 3,217,993 | 6,115,716 | 16,528,021 | |||
NET REALIZED AND UNREALIZED GAIN (LOSS): | ||||||
Net realized gain (loss) on: | ||||||
Investments | (22,204,557) | (36,797,876) | (45,285,052) | |||
In-kind redemptions | 499,117 | 3,233,102 | 99,041,027 | |||
Foreign currency transactions | — | — | — | |||
Net realized gain (loss) | (21,705,440) | (33,564,774) | 53,755,975 | |||
Net change in unrealized appreciation (depreciation) on: | ||||||
Investments | (34,857,978) | (79,615,598) | (184,268,695) | |||
Foreign currency translation | — | — | — | |||
Net change in unrealized appreciation (depreciation) | (34,857,978) | (79,615,598) | (184,268,695) | |||
NET REALIZED AND UNREALIZED GAIN (LOSS) | (56,563,418) | (113,180,372) | (130,512,720) | |||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $(53,345,425) | $(107,064,656) | $(113,984,699) |
First Trust Nasdaq Pharmaceuticals ETF (FTXH) | First Trust S-Network E-Commerce ETF (ISHP) | First Trust Nasdaq Semiconductor ETF (FTXL) | First Trust Nasdaq Transportation ETF (FTXR) | First Trust S-Network Streaming & Gaming ETF (BNGE) | |||||
$298,413 | $38,227 | $577,144 | $812,246 | $17,412 | |||||
228 | 109 | 604 | 712 | — | |||||
— | — | — | 181,134 | 71 | |||||
— | (1,927) | (3,974) | — | (517) | |||||
— | 154 | — | — | — | |||||
298,641 | 36,563 | 573,774 | 994,092 | 16,966 | |||||
90,887 | 28,417 | 255,521 | 379,564 | 11,353 | |||||
90,887 | 28,417 | 255,521 | 379,564 | 11,353 | |||||
207,754 | 8,146 | 318,253 | 614,528 | 5,613 | |||||
(1,279,665) | (1,483,786) | (7,715,276) | (14,188,925) | (151,751) | |||||
2,912,478 | (2,222,516) | 856,811 | (22,983,487) | — | |||||
— | (751) | — | — | (216) | |||||
1,632,813 | (3,707,053) | (6,858,465) | (37,172,412) | (151,967) | |||||
(5,457,861) | (459,666) | (24,088,684) | (12,005,980) | (1,105,003) | |||||
— | (586) | — | — | (47) | |||||
(5,457,861) | (460,252) | (24,088,684) | (12,005,980) | (1,105,050) | |||||
(3,825,048) | (4,167,305) | (30,947,149) | (49,178,392) | (1,257,017) | |||||
$(3,617,294) | $(4,159,159) | $(30,628,896) | $(48,563,864) | $(1,251,404) |
First Trust Nasdaq Bank ETF (FTXO) | First Trust Nasdaq Food & Beverage ETF (FTXG) | ||||||
Six Months Ended 9/30/2022 (Unaudited) | Year Ended 3/31/2022 | Six Months Ended 9/30/2022 (Unaudited) | Year Ended 3/31/2022 | ||||
OPERATIONS: | |||||||
Net investment income (loss) | $ 3,217,993 | $ 5,262,818 | $ 6,115,716 | $ 109,767 | |||
Net realized gain (loss) | (21,705,440) | (1,019,467) | (33,564,774) | (349,011) | |||
Net change in unrealized appreciation (depreciation) | (34,857,978) | (11,467,228) | (79,615,598) | 692,861 | |||
Net increase (decrease) in net assets resulting from operations | (53,345,425) | (7,223,877) | (107,064,656) | 453,617 | |||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | |||||||
Investment operations | (3,324,766) | (5,155,141) | (5,705,230) | (116,496) | |||
SHAREHOLDER TRANSACTIONS: | |||||||
Proceeds from shares sold | 14,715,844 | 231,246,175 | 1,170,331,517 | 9,224,482 | |||
Cost of shares redeemed | (117,943,787) | (84,224,058) | (236,389,918) | (3,884,145) | |||
Net increase (decrease) in net assets resulting from shareholder transactions | (103,227,943) | 147,022,117 | 933,941,599 | 5,340,337 | |||
Total increase (decrease) in net assets | (159,898,134) | 134,643,099 | 821,171,713 | 5,677,458 | |||
NET ASSETS: | |||||||
Beginning of period | 361,936,589 | 227,293,490 | 10,810,483 | 5,133,025 | |||
End of period | $202,038,455 | $361,936,589 | $831,982,196 | $10,810,483 | |||
CHANGES IN SHARES OUTSTANDING: | |||||||
Shares outstanding, beginning of period | 11,400,002 | 7,300,002 | 400,002 | 200,002 | |||
Shares sold | 500,000 | 6,750,000 | 41,850,000 | 350,000 | |||
Shares redeemed | (4,100,000) | (2,650,000) | (8,650,000) | (150,000) | |||
Shares outstanding, end of period | 7,800,002 | 11,400,002 | 33,600,002 | 400,002 |
First Trust Nasdaq Oil & Gas ETF (FTXN) | First Trust Nasdaq Pharmaceuticals ETF (FTXH) | First Trust S-Network E-Commerce ETF (ISHP) | ||||||||
Six Months Ended 9/30/2022 (Unaudited) | Year Ended 3/31/2022 | Six Months Ended 9/30/2022 (Unaudited) | Year Ended 3/31/2022 | Six Months Ended 9/30/2022 (Unaudited) | Year Ended 3/31/2022 | |||||
$ 16,528,021 | $ 6,902,387 | $ 207,754 | $ 185,875 | $ 8,146 | $ 174,149 | |||||
53,755,975 | 170,957,349 | 1,632,813 | 387,327 | (3,707,053) | 359,766 | |||||
(184,268,695) | 162,037,630 | (5,457,861) | 444,270 | (460,252) | (2,624,610) | |||||
(113,984,699) | 339,897,366 | (3,617,294) | 1,017,472 | (4,159,159) | (2,090,695) | |||||
(13,617,766) | (6,320,716) | (180,810) | (176,100) | (33,180) | (143,821) | |||||
753,517,525 | 1,655,064,859 | 42,534,102 | 2,582,284 | — | 36,521,440 | |||||
(747,499,258) | (877,458,299) | (20,011,753) | (5,245,253) | (10,089,830) | (25,144,637) | |||||
6,018,267 | 777,606,560 | 22,522,349 | (2,662,969) | (10,089,830) | 11,376,803 | |||||
(121,584,198) | 1,111,183,210 | 18,724,245 | (1,821,597) | (14,282,169) | 9,142,287 | |||||
1,147,630,972 | 36,447,762 | 17,311,330 | 19,132,927 | 18,586,402 | 9,444,115 | |||||
$1,026,046,774 | $1,147,630,972 | $36,035,575 | $17,311,330 | $4,304,233 | $18,586,402 | |||||
43,350,002 | 2,350,002 | 650,002 | 750,002 | 600,002 | 300,002 | |||||
28,150,000 | 76,750,000 | 1,600,000 | 100,000 | — | 1,050,000 | |||||
(29,650,000) | (35,750,000) | (750,000) | (200,000) | (400,000) | (750,000) | |||||
41,850,002 | 43,350,002 | 1,500,002 | 650,002 | 200,002 | 600,002 |
First Trust Nasdaq Semiconductor ETF (FTXL) | First Trust Nasdaq Transportation ETF (FTXR) | ||||||
Six Months Ended 9/30/2022 (Unaudited) | Year Ended 3/31/2022 | Six Months Ended 9/30/2022 (Unaudited) | Year Ended 3/31/2022 | ||||
OPERATIONS: | |||||||
Net investment income (loss) | $ 318,253 | $ 361,146 | $ 614,528 | $ 10,254,406 | |||
Net realized gain (loss) | (6,858,465) | 14,839,706 | (37,172,412) | 18,134,255 | |||
Net change in unrealized appreciation (depreciation) | (24,088,684) | (11,810,521) | (12,005,980) | (109,717,327) | |||
Net increase (decrease) in net assets resulting from operations | (30,628,896) | 3,390,331 | (48,563,864) | (81,328,666) | |||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | |||||||
Investment operations | (309,240) | (338,211) | (840,745) | (10,039,966) | |||
SHAREHOLDER TRANSACTIONS: | |||||||
Proceeds from shares sold | 5,826,965 | 93,443,236 | — | 720,128,082 | |||
Cost of shares redeemed | (17,695,744) | (72,200,805) | (162,450,450) | (1,419,772,038) | |||
Net increase (decrease) in net assets resulting from shareholder transactions | (11,868,779) | 21,242,431 | (162,450,450) | (699,643,956) | |||
Total increase (decrease) in net assets | (42,806,915) | 24,294,551 | (211,855,059) | (791,012,588) | |||
NET ASSETS: | |||||||
Beginning of period | 108,450,703 | 84,156,152 | 280,841,726 | 1,071,854,314 | |||
End of period | $65,643,788 | $108,450,703 | $68,986,667 | $280,841,726 | |||
CHANGES IN SHARES OUTSTANDING: | |||||||
Shares outstanding, beginning of period | 1,550,002 | 1,300,002 | 8,700,002 | 32,600,002 | |||
Shares sold | 100,000 | 1,300,000 | — | 22,150,000 | |||
Shares redeemed | (300,000) | (1,050,000) | (5,750,000) | (46,050,000) | |||
Shares outstanding, end of period | 1,350,002 | 1,550,002 | 2,950,002 | 8,700,002 |
(a) | Inception date is January 25, 2022, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
First Trust S-Network Streaming & Gaming ETF (BNGE) | ||
Six Months Ended 9/30/2022 (Unaudited) | Period Ended 3/31/2022 (a) | |
$ 5,613 | $ 2,572 | |
(151,967) | 91 | |
(1,105,050) | (170,718) | |
(1,251,404) | (168,055) | |
(14,970) | (405) | |
959,545 | 3,660,317 | |
— | — | |
959,545 | 3,660,317 | |
(306,829) | 3,491,857 | |
3,491,857 | — | |
$ 3,185,028 | $ 3,491,857 | |
150,002 | — | |
50,000 | 150,002 | |
— | — | |
200,002 | 150,002 |
Six Months Ended 9/30/2022 (Unaudited) | Year Ended March 31, | |||||||||||
2022 | 2021 | 2020 | 2019 | 2018 | ||||||||
Net asset value, beginning of period | $ 31.75 | $ 31.14 | $ 15.64 | $ 24.41 | $ 29.50 | $ 25.94 | ||||||
Income from investment operations: | ||||||||||||
Net investment income (loss) | 0.40 | 0.61 | 0.59 (a) | 0.73 | 0.84 | 0.40 | ||||||
Net realized and unrealized gain (loss) | (5.85) | 0.61 (b) | 15.50 | (8.77) | (5.14) | 3.56 | ||||||
Total from investment operations | (5.45) | 1.22 | 16.09 | (8.04) | (4.30) | 3.96 | ||||||
Distributions paid to shareholders from: | ||||||||||||
Net investment income | (0.40) | (0.61) | (0.59) | (0.73) | (0.79) | (0.40) | ||||||
Net asset value, end of period | $25.90 | $31.75 | $31.14 | $15.64 | $24.41 | $29.50 | ||||||
Total return (c) | (17.16)% | 3.89% | 105.13% | (33.93)% | (14.49)% | 15.35% | ||||||
Ratios to average net assets/supplemental data: | ||||||||||||
Net assets, end of period (in 000’s) | $ 202,038 | $ 361,937 | $ 227,293 | $ 58,658 | $ 168,447 | $ 1,314,444 | ||||||
Ratio of total expenses to average net assets | 0.60% (d) | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% | ||||||
Ratio of net investment income (loss) to average net assets | 2.48% (d) | 1.91% | 2.65% | 2.69% | 1.83% | 1.47% | ||||||
Portfolio turnover rate (e) | 27% | 78% | 176% | 59% | 87% | 39% |
(a) | Based on average shares outstanding. |
(b) | The per share amount does not correlate with the aggregate realized and unrealized gain (loss) due to the timing of the Fund share sales and repurchases in relation to market value fluctuation of the underlying investments. |
(c) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(d) | Annualized. |
(e) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Six Months Ended 9/30/2022 (Unaudited) | Year Ended March 31, | |||||||||||
2022 | 2021 | 2020 | 2019 | 2018 | ||||||||
Net asset value, beginning of period | $ 27.03 | $ 25.66 | $ 17.28 | $ 20.06 | $ 19.71 | $ 20.63 | ||||||
Income from investment operations: | ||||||||||||
Net investment income (loss) | 0.19 | 0.41 | 0.32 | 0.27 | 0.27 | 0.35 | ||||||
Net realized and unrealized gain (loss) | (2.28) | 1.39 | 8.38 | (2.77) | 0.33 | (0.95) | ||||||
Total from investment operations | (2.09) | 1.80 | 8.70 | (2.50) | 0.60 | (0.60) | ||||||
Distributions paid to shareholders from: | ||||||||||||
Net investment income | (0.18) | (0.43) | (0.32) | (0.28) | (0.25) | (0.32) | ||||||
Net asset value, end of period | $24.76 | $27.03 | $25.66 | $17.28 | $20.06 | $19.71 | ||||||
Total return (a) | (7.76)% | 7.13% | 50.65% | (12.69)% | 3.13% | (2.96)% | ||||||
Ratios to average net assets/supplemental data: | ||||||||||||
Net assets, end of period (in 000’s) | $ 831,982 | $ 10,810 | $ 5,133 | $ 2,592 | $ 2,006 | $ 985 | ||||||
Ratio of total expenses to average net assets | 0.60% (b) | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% | ||||||
Ratio of net investment income (loss) to average net assets | 1.68% (b) | 1.61% | 1.44% | 1.58% | 1.55% | 1.53% | ||||||
Portfolio turnover rate (c) | 32% | 77% | 131% | 59% | 108% | 76% |
(a) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(b) | Annualized. |
(c) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Six Months Ended 9/30/2022 (Unaudited) | Year Ended March 31, | |||||||||||
2022 | 2021 | 2020 | 2019 | 2018 | ||||||||
Net asset value, beginning of period | $ 26.47 | $ 15.51 | $ 8.10 | $ 18.91 | $ 19.95 | $ 20.63 | ||||||
Income from investment operations: | ||||||||||||
Net investment income (loss) | 0.39 | 0.31 | 0.22 | 0.31 | 0.41 | 0.36 | ||||||
Net realized and unrealized gain (loss) | (2.02) | 10.96 | 7.39 | (10.79) | (1.06) | (0.67) | ||||||
Total from investment operations | (1.63) | 11.27 | 7.61 | (10.48) | (0.65) | (0.31) | ||||||
Distributions paid to shareholders from: | ||||||||||||
Net investment income | (0.32) | (0.31) | (0.20) | (0.32) | (0.39) | (0.33) | ||||||
Return of capital | — | — | — | (0.01) | — | (0.04) | ||||||
Total distributions | (0.32) | (0.31) | (0.20) | (0.33) | (0.39) | (0.37) | ||||||
Net asset value, end of period | $24.52 | $26.47 | $15.51 | $8.10 | $18.91 | $19.95 | ||||||
Total return (a) | (6.13)% | 73.19% | 95.16% | (56.26)% | (3.27)% | (1.47)% | ||||||
Ratios to average net assets/supplemental data: | ||||||||||||
Net assets, end of period (in 000’s) | $ 1,026,047 | $ 1,147,631 | $ 36,448 | $ 6,885 | $ 12,294 | $ 3,991 | ||||||
Ratio of total expenses to average net assets | 0.60% (b) | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% | ||||||
Ratio of net investment income (loss) to average net assets | 2.92% (b) | 1.87% | 2.01% | 2.14% | 1.69% | 1.96% | ||||||
Portfolio turnover rate (c) | 37% | 139% | 136% | 76% | 126% | 92% |
(a) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(b) | Annualized. |
(c) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Six Months Ended 9/30/2022 (Unaudited) | Year Ended March 31, | |||||||||||
2022 | 2021 | 2020 | 2019 | 2018 | ||||||||
Net asset value, beginning of period | $ 26.63 | $ 25.51 | $ 19.36 | $ 21.50 | $ 21.14 | $ 19.83 | ||||||
Income from investment operations: | ||||||||||||
Net investment income (loss) | 0.13 | 0.27 | 0.24 | 0.18 | 0.13 | 0.17 | ||||||
Net realized and unrealized gain (loss) | (2.61) | 1.10 | 6.14 | (2.13) | 0.35 | 1.65 | ||||||
Total from investment operations | (2.48) | 1.37 | 6.38 | (1.95) | 0.48 | 1.82 | ||||||
Distributions paid to shareholders from: | ||||||||||||
Net investment income | (0.13) | (0.25) | (0.23) | (0.19) | (0.12) | (0.17) | ||||||
Net realized gain | — | — | — | — | — | (0.34) | ||||||
Total distributions | (0.13) | (0.25) | (0.23) | (0.19) | (0.12) | (0.51) | ||||||
Net asset value, end of period | $24.02 | $26.63 | $25.51 | $19.36 | $21.50 | $21.14 | ||||||
Total return (a) | (9.33)% | 5.39% | 33.00% | (9.13)% | 2.30% | 9.32% | ||||||
Ratios to average net assets/supplemental data: | ||||||||||||
Net assets, end of period (in 000’s) | $ 36,036 | $ 17,311 | $ 19,133 | $ 5,810 | $ 5,376 | $ 2,114 | ||||||
Ratio of total expenses to average net assets | 0.60% (b) | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% | ||||||
Ratio of net investment income (loss) to average net assets | 1.37% (b) | 0.97% | 1.07% | 0.85% | 0.69% | 0.80% | ||||||
Portfolio turnover rate (c) | 27% | 77% | 83% | 42% | 107% | 70% |
(a) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(b) | Annualized. |
(c) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Six Months Ended 9/30/2022 (Unaudited) | Year Ended March 31, | |||||||||||
2022 | 2021 | 2020 | 2019 | 2018 | ||||||||
Net asset value, beginning of period | $ 30.98 | $ 31.48 | $ 18.10 | $ 22.34 | $ 20.86 | $ 19.68 | ||||||
Income from investment operations: | ||||||||||||
Net investment income (loss) | 0.07 | 0.26 | 0.19 | 0.27 | 0.21 | 0.31 | ||||||
Net realized and unrealized gain (loss) | (9.42) | (0.54) | 13.39 | (4.22) | 1.45 | 1.18 | ||||||
Total from investment operations | (9.35) | (0.28) | 13.58 | (3.95) | 1.66 | 1.49 | ||||||
Distributions paid to shareholders from: | ||||||||||||
Net investment income | (0.11) | (0.22) | (0.20) | (0.29) | (0.18) | (0.31) | ||||||
Net asset value, end of period | $21.52 | $30.98 | $31.48 | $18.10 | $22.34 | $20.86 | ||||||
Total return (a) | (30.21)% | (0.94)% | 75.23% | (17.90)% | 7.98% | 7.63% | ||||||
Ratios to average net assets/supplemental data: | ||||||||||||
Net assets, end of period (in 000’s) | $ 4,304 | $ 18,586 | $ 9,444 | $ 3,619 | $ 8,934 | $ 1,043 | ||||||
Ratio of total expenses to average net assets | 0.60% (b) | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% | ||||||
Ratio of net investment income (loss) to average net assets | 0.17% (b) | 0.91% | 0.70% | 1.11% | 1.41% | 1.54% | ||||||
Portfolio turnover rate (c) | 53% | 213% | 114% | 65% | 127% | 126% |
(a) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(b) | Annualized. |
(c) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Six Months Ended 9/30/2022 (Unaudited) | Year Ended March 31, | |||||||||||
2022 | 2021 | 2020 | 2019 | 2018 | ||||||||
Net asset value, beginning of period | $ 69.97 | $ 64.74 | $ 33.00 | $ 31.83 | $ 32.58 | $ 25.04 | ||||||
Income from investment operations: | ||||||||||||
Net investment income (loss) | 0.23 | 0.27 | 0.23 | 0.38 | 0.25 | 0.14 | ||||||
Net realized and unrealized gain (loss) | (21.36) | 5.22 | 31.75 | 1.18 | (0.79) | 7.54 | ||||||
Total from investment operations | (21.13) | 5.49 | 31.98 | 1.56 | (0.54) | 7.68 | ||||||
Distributions paid to shareholders from: | ||||||||||||
Net investment income | (0.22) | (0.26) | (0.24) | (0.39) | (0.21) | (0.14) | ||||||
Net asset value, end of period | $48.62 | $69.97 | $64.74 | $33.00 | $31.83 | $32.58 | ||||||
Total return (a) | (30.21)% | 8.46% | 97.11% | 4.82% | (1.62)% | 30.77% | ||||||
Ratios to average net assets/supplemental data: | ||||||||||||
Net assets, end of period (in 000’s) | $ 65,644 | $ 108,451 | $ 84,156 | $ 31,353 | $ 30,242 | $ 47,247 | ||||||
Ratio of total expenses to average net assets | 0.60% (b) | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% | ||||||
Ratio of net investment income (loss) to average net assets | 0.75% (b) | 0.40% | 0.45% | 1.00% | 0.78% | 0.55% | ||||||
Portfolio turnover rate (c) | 25% | 58% | 113% | 64% | 94% | 59% |
(a) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(b) | Annualized. |
(c) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Six Months Ended 9/30/2022 (Unaudited) | Year Ended March 31, | |||||||||||
2022 | 2021 | 2020 | 2019 | 2018 | ||||||||
Net asset value, beginning of period | $ 32.28 | $ 32.88 | $ 15.11 | $ 23.33 | $ 24.93 | $ 22.78 | ||||||
Income from investment operations: | ||||||||||||
Net investment income (loss) | 0.21 | 0.45 | 0.04 | 0.30 | 0.35 | 0.32 | ||||||
Net realized and unrealized gain (loss) | (8.86) | (0.62) | 17.79 | (8.22) | (1.62) | 2.16 | ||||||
Total from investment operations | (8.65) | (0.17) | 17.83 | (7.92) | (1.27) | 2.48 | ||||||
Distributions paid to shareholders from: | ||||||||||||
Net investment income | (0.24) | (0.43) | (0.06) | (0.30) | (0.33) | (0.33) | ||||||
Net asset value, end of period | $23.39 | $32.28 | $32.88 | $15.11 | $23.33 | $24.93 | ||||||
Total return (a) | (26.84)% | (0.53)% | 118.10% | (34.35)% | (5.11)% | 10.89% | ||||||
Ratios to average net assets/supplemental data: | ||||||||||||
Net assets, end of period (in 000’s) | $ 68,987 | $ 280,842 | $ 1,071,854 | $ 1,511 | $ 2,333 | $ 3,740 | ||||||
Ratio of total expenses to average net assets | 0.60% (b) | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% | ||||||
Ratio of net investment income (loss) to average net assets | 0.97% (b) | 0.92% | 0.10% | 1.04% | 1.38% | 1.27% | ||||||
Portfolio turnover rate (c) | 25% | 43% | 129% | 89% | 108% | 78% |
(a) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(b) | Annualized. |
(c) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Six Months Ended 9/30/2022 (Unaudited) | Period Ended 3/31/2022 (a) | ||
Net asset value, beginning of period | $ 23.28 | $ 24.46 | |
Income from investment operations: | |||
Net investment income (loss) | 0.05 | 0.02 | |
Net realized and unrealized gain (loss) | (7.31) | (1.20) | |
Total from investment operations | (7.26) | (1.18) | |
Distributions paid to shareholders from: | |||
Net investment income | (0.10) | (0.00) (b) | |
Net asset value, end of period | $15.92 | $23.28 | |
Total return (c) | (31.24)% | (4.81)% | |
Ratios to average net assets/supplemental data: | |||
Net assets, end of period (in 000’s) | $ 3,185 | $ 3,492 | |
Ratio of total expenses to average net assets | 0.70% (d) | 0.70% (d) | |
Ratio of net investment income (loss) to average net assets | 0.35% (d) | 0.47% (d) | |
Portfolio turnover rate (e) | 23% | 0% |
(a) | Inception date is January 25, 2022, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Amount is less than $0.01. |
(c) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The return presented does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(d) | Annualized. |
(e) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Fund | Index |
First Trust Nasdaq Bank ETF | Nasdaq US Smart Banks IndexTM |
First Trust Nasdaq Food & Beverage ETF | Nasdaq US Smart Food & Beverage IndexTM |
First Trust Nasdaq Oil & Gas ETF | Nasdaq US Smart Oil & Gas IndexTM |
First Trust Nasdaq Pharmaceuticals ETF | Nasdaq US Smart Pharmaceuticals IndexTM |
First Trust S-Network E-Commerce ETF | S-Network Global E-Commerce IndexTM |
First Trust Nasdaq Semiconductor ETF | Nasdaq US Smart Semiconductor IndexTM |
First Trust Nasdaq Transportation ETF | Nasdaq US Smart Transportation IndexTM |
First Trust S-Network Streaming & Gaming ETF | S-Network Streaming & Gaming Index |
1) | the last sale price on the exchange on which they are principally traded or, for Nasdaq and AIM securities, the official closing price; |
2) | the type of security; |
3) | the size of the holding; |
4) | the initial cost of the security; |
5) | transactions in comparable securities; |
6) | price quotes from dealers and/or third-party pricing services; |
7) | relationships among various securities; |
8) | information obtained by contacting the issuer, analysts, or the appropriate stock exchange; |
9) | an analysis of the issuer’s financial statements; |
10) | the existence of merger proposals or tender offers that might affect the value of the security; and |
11) | other relevant factors. |
1) | the value of similar foreign securities traded on other foreign markets; |
2) | ADR trading of similar securities; |
3) | closed-end fund or exchange-traded fund trading of similar securities; |
4) | foreign currency exchange activity; |
5) | the trading prices of financial products that are tied to baskets of foreign securities; |
6) | factors relating to the event that precipitated the pricing problem; |
7) | whether the event is likely to recur; |
8) | whether the effects of the event are isolated or whether they affect entire markets, countries or regions; and |
9) | other relevant factors. |
• | Level 1 – Level 1 inputs are quoted prices in active markets for identical investments. An active market is a market in which transactions for the investment occur with sufficient frequency and volume to provide pricing information on an ongoing basis. |
• | Level 2 – Level 2 inputs are observable inputs, either directly or indirectly, and include the following: |
o | Quoted prices for similar investments in active markets. |
o | Quoted prices for identical or similar investments in markets that are non-active. A non-active market is a market where there are few transactions for the investment, the prices are not current, or price quotations vary substantially either over time or among market makers, or in which little information is released publicly. |
o | Inputs other than quoted prices that are observable for the investment (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates). |
o | Inputs that are derived principally from or corroborated by observable market data by correlation or other means. |
• | Level 3 – Level 3 inputs are unobservable inputs. Unobservable inputs may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment. |
Distributions paid from Ordinary Income | Distributions paid from Capital Gains | Distributions paid from Return of Capital | |||
First Trust Nasdaq Bank ETF | $ 5,155,141 | $ — | $ — | ||
First Trust Nasdaq Food & Beverage ETF | 116,496 | — | — | ||
First Trust Nasdaq Oil & Gas ETF | 6,320,716 | — | — | ||
First Trust Nasdaq Pharmaceuticals ETF | 176,100 | — | — | ||
First Trust S-Network E-Commerce ETF | 143,821 | — | — | ||
First Trust Nasdaq Semiconductor ETF | 338,211 | — | — | ||
First Trust Nasdaq Transportation ETF | 10,039,966 | — | — | ||
First Trust S-Network Streaming & Gaming ETF | 405 | — | — |
Undistributed Ordinary Income | Accumulated Capital and Other Gain (Loss) | Net Unrealized Appreciation (Depreciation) | |||
First Trust Nasdaq Bank ETF | $ 329,822 | $ (80,781,438) | $ (8,732,420) | ||
First Trust Nasdaq Food & Beverage ETF | — | (1,052,735) | 664,643 | ||
First Trust Nasdaq Oil & Gas ETF | 624,468 | (12,848,893) | 157,483,512 | ||
First Trust Nasdaq Pharmaceuticals ETF | 21,285 | (2,169,600) | 1,486,069 | ||
First Trust S-Network E-Commerce ETF | 24,184 | (3,151,002) | (1,954,358) | ||
First Trust Nasdaq Semiconductor ETF | 45,521 | (6,130,872) | (65,969) | ||
First Trust Nasdaq Transportation ETF | 214,440 | (36,427,903) | (13,693,799) | ||
First Trust S-Network Streaming & Gaming ETF | 10,975 | — | (179,435) |
Non-Expiring Capital Loss Carryforward | |
First Trust Nasdaq Bank ETF | $ 80,781,438 |
First Trust Nasdaq Food & Beverage ETF | 1,052,735 |
First Trust Nasdaq Oil & Gas ETF | 12,848,893 |
First Trust Nasdaq Pharmaceuticals ETF | 2,169,600 |
First Trust S-Network E-Commerce ETF | 3,151,002 |
First Trust Nasdaq Semiconductor ETF | 6,130,872 |
First Trust Nasdaq Transportation ETF | 36,427,903 |
First Trust S-Network Streaming & Gaming ETF | — |
Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation (Depreciation) | ||||
First Trust Nasdaq Bank ETF | $ 241,538,179 | $ 534,318 | $ (40,584,602) | $ (40,050,284) | |||
First Trust Nasdaq Food & Beverage ETF | 910,254,789 | 6,112,649 | (84,933,677) | (78,821,028) | |||
First Trust Nasdaq Oil & Gas ETF | 1,044,155,289 | 29,904,089 | (48,783,715) | (18,879,626) | |||
First Trust Nasdaq Pharmaceuticals ETF | 39,883,862 | 568,546 | (4,442,346) | (3,873,800) | |||
First Trust S-Network E-Commerce ETF | 6,602,163 | 41,286 | (2,348,979) | (2,307,693) | |||
First Trust Nasdaq Semiconductor ETF | 88,661,939 | 1,335,097 | (24,399,558) | (23,064,461) | |||
First Trust Nasdaq Transportation ETF | 95,474,003 | 23,810 | (24,799,167) | (24,775,357) | |||
First Trust S-Network Streaming & Gaming ETF | 4,502,641 | 1,380 | (1,277,108) | (1,275,728) |
Purchases | Sales | ||
First Trust Nasdaq Bank ETF | $ 69,225,906 | $ 69,342,204 | |
First Trust Nasdaq Food & Beverage ETF | 233,229,663 | 232,123,588 | |
First Trust Nasdaq Oil & Gas ETF | 410,982,938 | 407,745,663 | |
First Trust Nasdaq Pharmaceuticals ETF | 8,061,959 | 7,977,871 | |
First Trust S-Network E-Commerce ETF | 5,006,317 | 5,347,303 | |
First Trust Nasdaq Semiconductor ETF | 20,795,583 | 20,653,102 | |
First Trust Nasdaq Transportation ETF | 34,048,333 | 33,714,636 | |
First Trust S-Network Streaming & Gaming ETF | 813,358 | 733,382 | |
Purchases | Sales | ||
First Trust Nasdaq Bank ETF | $ 14,679,598 | $ 117,646,317 | |
First Trust Nasdaq Food & Beverage ETF | 1,168,755,727 | 236,049,965 | |
First Trust Nasdaq Oil & Gas ETF | 750,337,054 | 743,304,768 | |
First Trust Nasdaq Pharmaceuticals ETF | 42,441,619 | 19,980,452 | |
First Trust S-Network E-Commerce ETF | — | 9,745,589 | |
First Trust Nasdaq Semiconductor ETF | 5,819,414 | 17,668,260 | |
First Trust Nasdaq Transportation ETF | — | 162,108,477 | |
First Trust S-Network Streaming & Gaming ETF | 878,675 | — |
NOT FDIC INSURED | NOT BANK GUARANTEED | MAY LOSE VALUE |
FUND ACCOUNTANT &
TRANSFER AGENT
PUBLIC ACCOUNTING FIRM
Developed International Equity Select ETF (RNDM)
Emerging Markets Equity Select ETF (RNEM)
Large Cap US Equity Select ETF (RNLC)
Mid Cap US Equity Select ETF (RNMC)
Small Cap US Equity Select ETF (RNSC)
US Equity Dividend Select ETF (RNDV)
For the Period Ended
September 30, 2022
2 | |
3 | |
Fund Performance Overview | |
4 | |
6 | |
8 | |
10 | |
12 | |
14 | |
16 | |
17 | |
Portfolio of Investments | |
18 | |
26 | |
32 | |
38 | |
44 | |
50 | |
54 | |
56 | |
58 | |
60 | |
66 | |
76 |
Performance | |||||||
Average Annual Total Returns | Cumulative Total Returns | ||||||
6 Months Ended 9/30/22 | 1 Year Ended 9/30/22 | 5 Years Ended 9/30/22 | Inception (6/20/17) to 9/30/22 | 5 Years Ended 9/30/22 | Inception (6/20/17) to 9/30/22 | ||
Fund Performance | |||||||
NAV | -21.91% | -24.19% | -2.14% | -1.80% | -10.26% | -9.16% | |
Market Price | -21.79% | -24.37% | -2.23% | -1.79% | -10.68% | -9.11% | |
Index Performance | |||||||
Nasdaq Riskalyze Developed Markets IndexTM | -21.66% | -23.16% | -0.84% | -0.51% | -4.11% | -2.66% | |
Nasdaq Developed Markets Ex-US Large Mid Cap IndexTM | -22.71% | -24.27% | 0.04% | 1.06% | 0.22% | 5.75% | |
MSCI World ex USA Index | -22.50% | -23.91% | -0.39% | 0.67% | -1.96% | 3.61% |
Sector Allocation | % of Total Investments |
Financials | 23.4% |
Industrials | 14.4 |
Health Care | 12.5 |
Consumer Staples | 12.5 |
Consumer Discretionary | 11.5 |
Communication Services | 5.7 |
Materials | 5.2 |
Information Technology | 4.8 |
Utilities | 4.0 |
Real Estate | 3.1 |
Energy | 2.9 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
USS Co., Ltd. | 3.6% |
Sekisui House Ltd. | 3.3 |
Secom Co., Ltd. | 3.0 |
Takeda Pharmaceutical Co., Ltd. | 2.4 |
Novartis AG | 2.2 |
Roche Holding AG | 2.1 |
Henkel AG & Co., KGaA (Preference Shares) | 1.8 |
GSK PLC | 1.7 |
Japan Post Holdings Co., Ltd. | 1.4 |
Hitachi Metals Ltd. | 1.4 |
Total | 22.9% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | |||||||
Average Annual Total Returns | Cumulative Total Returns | ||||||
6 Months Ended 9/30/22 | 1 Year Ended 9/30/22 | 5 Years Ended 9/30/22 | Inception (6/20/17) to 9/30/22 | 5 Years Ended 9/30/22 | Inception (6/20/17) to 9/30/22 | ||
Fund Performance | |||||||
NAV | -16.02% | -15.04% | -2.19% | -0.98% | -10.46% | -5.08% | |
Market Price | -16.77% | -15.82% | -2.49% | -1.14% | -11.84% | -5.87% | |
Index Performance | |||||||
Nasdaq Riskalyze Emerging Markets IndexTM | -15.29% | -13.90% | -0.28% | 0.98% | -1.38% | 5.27% | |
Nasdaq Emerging Markets Large Mid Cap IndexTM | -20.17% | -24.37% | -0.76% | 0.81% | -3.76% | 4.32% | |
MSCI Emerging Markets Index | -21.70% | -28.11% | -1.81% | -0.19% | -8.71% | -1.02% |
Sector Allocation | % of Total Investments |
Financials | 28.4% |
Information Technology | 19.2 |
Materials | 12.2 |
Consumer Staples | 9.8 |
Energy | 8.0 |
Industrials | 4.8 |
Consumer Discretionary | 4.7 |
Communication Services | 4.2 |
Health Care | 3.2 |
Real Estate | 3.1 |
Utilities | 2.4 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
HDFC Bank Ltd. | 3.3% |
Inventec Corp. | 3.1 |
Wistron Corp. | 3.0 |
Quanta Computer, Inc. | 2.9 |
Compal Electronics, Inc. | 2.7 |
Pegatron Corp. | 2.7 |
ESR Group Ltd. | 2.1 |
Petronet LNG Ltd. | 1.9 |
Klabin S.A. | 1.9 |
China Petroleum & Chemical Corp., Class H | 1.8 |
Total | 25.4% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | |||||||
Average Annual Total Returns | Cumulative Total Returns | ||||||
6 Months Ended 9/30/22 | 1 Year Ended 9/30/22 | 5 Years Ended 9/30/22 | Inception (6/20/17) to 9/30/22 | 5 Years Ended 9/30/22 | Inception (6/20/17) to 9/30/22 | ||
Fund Performance | |||||||
NAV | -19.08% | -14.83% | 7.20% | 7.47% | 41.58% | 46.27% | |
Market Price | -19.19% | -14.92% | 7.16% | 7.45% | 41.33% | 46.15% | |
Index Performance | |||||||
Nasdaq Riskalyze US Large Cap IndexTM | -18.89% | -14.37% | 7.86% | 8.13% | 45.95% | 51.05% | |
Nasdaq US 500 Large Cap IndexTM | -20.46% | -17.04% | 9.20% | 9.48% | 55.31% | 61.32% | |
S&P 500® Index | -20.20% | -15.47% | 9.24% | 9.53% | 55.55% | 61.67% |
Sector Allocation | % of Total Investments |
Information Technology | 29.0% |
Health Care | 15.4 |
Financials | 11.1 |
Consumer Discretionary | 11.0 |
Industrials | 9.7 |
Consumer Staples | 6.6 |
Energy | 4.8 |
Communication Services | 3.6 |
Materials | 3.0 |
Utilities | 2.9 |
Real Estate | 2.9 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Microchip Technology, Inc. | 0.9% |
Amphenol Corp., Class A | 0.9 |
Apple, Inc. | 0.8 |
Texas Instruments, Inc. | 0.8 |
Intuit, Inc. | 0.8 |
NXP Semiconductors N.V. | 0.8 |
CDW Corp. | 0.8 |
Marvell Technology, Inc. | 0.8 |
TE Connectivity Ltd. | 0.8 |
Analog Devices, Inc. | 0.8 |
Total | 8.2% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | |||||||
Average Annual Total Returns | Cumulative Total Returns | ||||||
6 Months Ended 9/30/22 | 1 Year Ended 9/30/22 | 5 Years Ended 9/30/22 | Inception (6/20/17) to 9/30/22 | 5 Years Ended 9/30/22 | Inception (6/20/17) to 9/30/22 | ||
Fund Performance | |||||||
NAV | -17.58% | -14.38% | 4.80% | 5.30% | 26.45% | 31.31% | |
Market Price | -17.58% | -14.72% | 4.78% | 5.29% | 26.33% | 31.25% | |
Index Performance | |||||||
Nasdaq Riskalyze US Mid Cap IndexTM | -17.38% | -13.85% | 5.45% | 5.94% | 30.39% | 35.59% | |
Nasdaq US 600 Mid Cap IndexTM | -20.44% | -22.04% | 5.28% | 5.99% | 29.35% | 35.95% | |
S&P MidCap 400® Index | -17.50% | -15.25% | 5.82% | 6.16% | 32.68% | 37.13% |
Sector Allocation | % of Total Investments |
Industrials | 19.1% |
Financials | 15.7 |
Consumer Discretionary | 14.4 |
Health Care | 10.9 |
Information Technology | 10.4 |
Real Estate | 8.2 |
Energy | 5.9 |
Materials | 5.9 |
Utilities | 4.0 |
Consumer Staples | 3.4 |
Communication Services | 2.1 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Ensign Group (The), Inc. | 1.3% |
Premier, Inc., Class A | 1.1 |
Chemed Corp. | 1.1 |
Perrigo Co. PLC | 1.1 |
Universal Health Services, Inc., Class B | 1.1 |
Bruker Corp. | 1.0 |
CONMED Corp. | 1.0 |
Encompass Health Corp. | 1.0 |
DENTSPLY SIRONA, Inc. | 1.0 |
National Instruments Corp. | 0.9 |
Total | 10.6% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | |||||||
Average Annual Total Returns | Cumulative Total Returns | ||||||
6 Months Ended 9/30/22 | 1 Year Ended 9/30/22 | 5 Years Ended 9/30/22 | Inception (6/20/17) to 9/30/22 | 5 Years Ended 9/30/22 | Inception (6/20/17) to 9/30/22 | ||
Fund Performance | |||||||
NAV | -19.62% | -16.32% | 3.75% | 4.76% | 20.23% | 27.83% | |
Market Price | -19.63% | -16.40% | 3.76% | 4.78% | 20.26% | 27.93% | |
Index Performance | |||||||
Nasdaq Riskalyze US Small Cap IndexTM | -19.45% | -15.87% | 4.42% | 5.44% | 24.17% | 32.28% | |
Nasdaq US 700 Small Cap IndexTM | -20.96% | -23.88% | 4.59% | 5.84% | 25.17% | 34.94% | |
S&P SmallCap 600® Index | -18.58% | -18.83% | 4.84% | 5.96% | 26.68% | 35.77% |
Sector Allocation | % of Total Investments |
Financials | 18.3% |
Industrials | 15.5 |
Information Technology | 12.9 |
Health Care | 12.4 |
Consumer Discretionary | 11.6 |
Real Estate | 8.2 |
Energy | 6.2 |
Consumer Staples | 4.3 |
Materials | 4.1 |
Communication Services | 3.8 |
Utilities | 2.7 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Select Medical Holdings Corp. | 4.6% |
Patterson Cos., Inc. | 3.9 |
Owens & Minor, Inc. | 3.7 |
Advanced Energy Industries, Inc. | 1.8 |
Methode Electronics, Inc. | 1.7 |
Vishay Intertechnology, Inc. | 1.7 |
Xperi Holding Corp. | 1.6 |
Progress Software Corp. | 1.6 |
CSG Systems International, Inc. | 1.5 |
Xerox Holdings Corp. | 1.5 |
Total | 23.6% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Performance | |||||||
Average Annual Total Returns | Cumulative Total Returns | ||||||
6 Months Ended 9/30/22 | 1 Year Ended 9/30/22 | 5 Years Ended 9/30/22 | Inception (6/20/17) to 9/30/22 | 5 Years Ended 9/30/22 | Inception (6/20/17) to 9/30/22 | ||
Fund Performance | |||||||
NAV | -17.16% | -10.98% | 7.09% | 7.29% | 40.86% | 45.02% | |
Market Price | -17.30% | -10.98% | 7.08% | 7.30% | 40.80% | 45.03% | |
Index Performance | |||||||
Nasdaq Riskalyze US Large Cap Select Dividend IndexTM | -17.06% | -10.60% | 7.67% | 7.87% | 44.69% | 49.17% | |
Nasdaq US 500 Large Cap IndexTM | -20.46% | -17.04% | 9.20% | 9.48% | 55.31% | 61.32% | |
S&P 500® Index | -20.20% | -15.47% | 9.24% | 9.53% | 55.55% | 61.67% |
Sector Allocation | % of Total Investments |
Information Technology | 27.8% |
Health Care | 15.2 |
Financials | 11.9 |
Consumer Discretionary | 11.6 |
Industrials | 8.8 |
Consumer Staples | 6.7 |
Energy | 4.8 |
Communication Services | 4.7 |
Utilities | 3.2 |
Real Estate | 2.9 |
Materials | 2.4 |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
International Business Machines Corp. | 2.4% |
Hewlett Packard Enterprise Co. | 2.0 |
Cardinal Health, Inc. | 1.9 |
Gilead Sciences, Inc. | 1.9 |
Broadcom, Inc. | 1.9 |
Corning, Inc. | 1.8 |
Texas Instruments, Inc. | 1.8 |
NetApp, Inc. | 1.8 |
Seagate Technology Holdings PLC | 1.8 |
Intel Corp. | 1.6 |
Total | 18.9% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Beginning Account Value April 1, 2022 | Ending Account Value September 30, 2022 | Annualized Expense Ratio Based on the Six-Month Period | Expenses Paid During the Six-Month Period (a) | |
Developed International Equity Select ETF (RNDM) | ||||
Actual | $1,000.00 | $780.90 | 0.65% | $2.90 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.81 | 0.65% | $3.29 |
Emerging Markets Equity Select ETF (RNEM) | ||||
Actual | $1,000.00 | $839.80 | 0.75% | $3.46 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.31 | 0.75% | $3.80 |
Large Cap US Equity Select ETF (RNLC) | ||||
Actual | $1,000.00 | $809.20 | 0.60% | $2.72 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.06 | 0.60% | $3.04 |
Mid Cap US Equity Select ETF (RNMC) | ||||
Actual | $1,000.00 | $824.20 | 0.60% | $2.74 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.06 | 0.60% | $3.04 |
Small Cap US Equity Select ETF (RNSC) | ||||
Actual | $1,000.00 | $803.80 | 0.60% | $2.71 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.06 | 0.60% | $3.04 |
US Equity Dividend Select ETF (RNDV) | ||||
Actual | $1,000.00 | $828.40 | 0.50% | $2.29 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,022.56 | 0.50% | $2.54 |
(a) | Expenses are equal to the annualized expense ratios as indicated in the table multiplied by the average account value over the period (April 1, 2022 through September 30, 2022), multiplied by 183/365 (to reflect the six-month period). |
Shares | Description | Value | ||
COMMON STOCKS (a) – 97.3% | ||||
Australia – 5.5% | ||||
9,618 | APA Group (b) | $59,179 | ||
1,168 | ASX Ltd. (b) | 53,755 | ||
3,463 | Australia & New Zealand Banking Group Ltd. (b) | 50,694 | ||
3,352 | Brambles Ltd. (b) | 24,521 | ||
3,031 | Coles Group Ltd. (b) | 31,954 | ||
904 | Commonwealth Bank of Australia (b) | 52,590 | ||
272 | CSL Ltd. (b) | 49,468 | ||
2,966 | Lendlease Corp., Ltd. (b) | 16,957 | ||
470 | Macquarie Group Ltd. (b) | 45,853 | ||
31,032 | Medibank Pvt Ltd. (b) | 69,362 | ||
2,954 | National Australia Bank Ltd. (b) | 54,695 | ||
1,121 | Ramsay Health Care Ltd. (b) | 41,149 | ||
2,059 | Sonic Healthcare Ltd. (b) | 40,161 | ||
8,595 | Suncorp Group Ltd. (b) | 55,463 | ||
86,097 | Tabcorp Holdings Ltd. (b) | 51,631 | ||
15,015 | Telstra Corp., Ltd. (b) | 37,076 | ||
2,451 | Transurban Group (b) | 19,357 | ||
1,496 | Wesfarmers Ltd. (b) | 40,898 | ||
3,943 | Westpac Banking Corp. (b) | 52,166 | ||
1,457 | Woolworths Group Ltd. (b) | 31,662 | ||
878,591 | ||||
Austria – 0.3% | ||||
94 | ANDRITZ AG (b) | 3,978 | ||
162 | BAWAG Group AG (b) (c) (d) | 6,964 | ||
225 | Erste Group Bank AG (b) | 4,932 | ||
184 | OMV AG (b) | 6,660 | ||
576 | Raiffeisen Bank International AG (b) | 6,815 | ||
152 | Verbund AG (b) | 12,977 | ||
158 | voestalpine AG (b) | 2,677 | ||
45,003 | ||||
Belgium – 0.7% | ||||
59 | Ackermans & van Haaren N.V. (b) | 7,486 | ||
219 | Ageas S.A./N.V. (b) | 7,987 | ||
626 | Anheuser-Busch InBev S.A./N.V. (b) | 28,356 | ||
27 | D’ieteren Group (b) | 3,804 | ||
43 | Elia Group S.A./N.V. (b) | 5,060 | ||
906 | Etablissements Franz Colruyt N.V. (b) | 19,915 | ||
107 | Groupe Bruxelles Lambert S.A. (b) | 7,483 | ||
166 | KBC Group N.V. (b) | 7,877 | ||
171 | Proximus S.A.D.P. (b) | 1,773 | ||
30 | Sofina S.A. (b) | 5,178 | ||
98 | Solvay S.A. (b) | 7,587 | ||
152 | UCB S.A. (b) | 10,549 | ||
223 | Umicore S.A. (b) | 6,547 | ||
119,602 |
Shares | Description | Value | ||
Bermuda – 0.2% | ||||
1,800 | Hongkong Land Holdings Ltd. (b) | $7,909 | ||
6,942 | Hopson Development Holdings Ltd. (b) | 7,228 | ||
200 | Jardine Matheson Holdings Ltd. (b) | 10,112 | ||
18,489 | Man Wah Holdings Ltd. (b) | 11,708 | ||
36,957 | ||||
Canada – 8.9% | ||||
1,630 | Algonquin Power & Utilities Corp. | 17,806 | ||
1,129 | AltaGas Ltd. | 21,618 | ||
803 | Bank of Montreal | 70,380 | ||
1,319 | Bank of Nova Scotia (The) | 62,734 | ||
818 | BCE, Inc. | 34,299 | ||
1,555 | Canadian Imperial Bank of Commerce | 68,060 | ||
825 | Canadian Utilities Ltd., Class A | 21,459 | ||
510 | Emera, Inc. | 20,635 | ||
4,759 | Enbridge, Inc. | 176,462 | ||
511 | Fortis, Inc. | 19,414 | ||
3,207 | Great-West Lifeco, Inc. | 69,231 | ||
938 | Hydro One Ltd. (c) (d) | 22,938 | ||
640 | Intact Financial Corp. | 90,573 | ||
1,049 | Metro, Inc. | 52,528 | ||
1,233 | National Bank of Canada | 77,282 | ||
3,051 | Power Corp. of Canada | 68,757 | ||
801 | Rogers Communications, Inc., Class B | 30,855 | ||
858 | Royal Bank of Canada | 77,250 | ||
1,691 | Sun Life Financial, Inc. | 67,243 | ||
3,886 | TC Energy Corp. | 156,526 | ||
1,735 | TELUS Corp. | 34,453 | ||
919 | TMX Group Ltd. | 84,532 | ||
1,191 | Toronto-Dominion Bank (The) | 73,046 | ||
1,418,081 | ||||
Cayman Islands – 0.3% | ||||
1,623 | CK Asset Holdings Ltd. (b) | 9,744 | ||
1,593 | CK Hutchison Holdings Ltd. (b) | 8,771 | ||
7,200 | Shimao Group Holdings Ltd. (e) (f) | 2,027 | ||
12,446 | Sino Biopharmaceutical Ltd. (b) | 5,833 | ||
2,667 | SITC International Holdings Co., Ltd. (b) | 4,891 | ||
9,731 | WH Group Ltd. (b) (c) (d) | 6,120 | ||
2,400 | Wharf Real Estate Investment Co., Ltd. (b) | 10,880 | ||
4,446 | Xinyi Glass Holdings Ltd. (b) | 6,430 | ||
54,696 | ||||
Denmark – 2.2% | ||||
14 | AP Moller - Maersk A.S., Class B (b) | 25,441 | ||
86 | Carlsberg A.S., Class B (b) | 10,057 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
Denmark (Continued) | ||||
539 | Chr Hansen Holding A.S. (b) | $26,551 | ||
262 | Coloplast A.S., Class B (b) | 26,626 | ||
575 | Danske Bank A.S. (b) | 7,157 | ||
879 | Demant A.S. (b) (f) | 21,730 | ||
217 | DSV A.S. (b) | 25,421 | ||
107 | Genmab A.S. (b) (f) | 34,422 | ||
808 | GN Store Nord A.S. (b) | 14,153 | ||
6,911 | H Lundbeck A.S. (b) | 22,089 | ||
1,728 | H Lundbeck A.S., Class A (f) | 5,158 | ||
359 | Novo Nordisk A.S., Class B (b) | 35,763 | ||
579 | Novozymes A.S., Class B (b) | 29,096 | ||
242 | Orsted A.S. (b) (c) (d) | 19,288 | ||
107 | Pandora A.S. (b) | 5,004 | ||
111 | Royal Unibrew A.S. (b) | 7,192 | ||
174 | Topdanmark A.S. | 8,151 | ||
395 | Tryg A.S. (b) | 8,154 | ||
1,226 | Vestas Wind Systems A/S (b) | 22,574 | ||
354,027 | ||||
Finland – 1.3% | ||||
414 | Elisa Oyj (b) | 18,758 | ||
558 | Fortum Oyj (b) | 7,498 | ||
347 | Kesko Oyj, Class B (b) | 6,474 | ||
190 | Kojamo Oyj (b) | 2,447 | ||
216 | Kone Oyj, Class B (b) | 8,322 | ||
1,337 | Metso Outotec Oyj (b) | 8,867 | ||
499 | Neste Oyj (b) | 21,751 | ||
4,512 | Nokia Oyj (b) | 19,370 | ||
3,522 | Nordea Bank Abp (b) | 30,142 | ||
778 | Sampo Oyj, Class A (b) | 33,214 | ||
1,009 | Stora Enso Oyj, Class R (b) | 12,818 | ||
606 | UPM-Kymmene Oyj (b) | 19,231 | ||
366 | Valmet Oyj (b) | 7,399 | ||
1,235 | Wartsila OYJ Abp (b) | 7,889 | ||
204,180 | ||||
France – 8.9% | ||||
718 | Air Liquide S.A. (b) | 82,067 | ||
1,939 | AXA S.A. (b) | 42,334 | ||
11,267 | Bollore SE (b) | 51,694 | ||
1,691 | Bouygues S.A. (b) | 44,234 | ||
2,065 | Bureau Veritas S.A. (b) | 46,210 | ||
1,415 | Carrefour S.A. (b) | 19,625 | ||
558 | Danone S.A. (b) | 26,385 | ||
2,827 | Dassault Systemes SE (b) | 97,602 | ||
1,192 | Edenred (b) | 54,916 | ||
574 | Eiffage S.A. (b) | 46,031 | ||
687 | Eurazeo SE (b) | 35,849 | ||
3,275 | Getlink SE (b) | 50,787 | ||
5,031 | La Francaise des Jeux SAEM (b) (c) (d) | 149,239 | ||
622 | Legrand S.A. (b) | 40,218 | ||
497 | L’Oreal S.A. (b) | 158,912 | ||
2,414 | Orange S.A. (b) | 21,834 | ||
139 | Pernod Ricard S.A. (b) | 25,500 |
Shares | Description | Value | ||
France (Continued) | ||||
147 | Remy Cointreau S.A. (b) | $24,394 | ||
2,467 | Sanofi (b) | 187,853 | ||
1,427 | SEB S.A. (b) | 89,759 | ||
155 | Teleperformance (b) | 39,321 | ||
576 | Vinci S.A. (b) | 46,576 | ||
555 | Wendel SE (b) | 39,724 | ||
1,421,064 | ||||
Germany – 7.6% | ||||
218 | Allianz SE (b) | 34,343 | ||
450 | BASF SE (b) | 17,270 | ||
862 | Bayer AG (b) | 39,716 | ||
243 | Beiersdorf AG (b) | 23,878 | ||
315 | Brenntag SE (b) | 19,042 | ||
290 | Deutsche Boerse AG (b) | 47,539 | ||
2,703 | Deutsche Telekom AG (b) | 46,010 | ||
5,974 | E.ON SE (b) | 45,897 | ||
926 | Evonik Industries AG (b) | 15,508 | ||
879 | Fresenius Medical Care AG & Co., KGaA (b) | 24,764 | ||
1,602 | Fresenius SE & Co., KGaA (b) | 34,147 | ||
710 | FUCHS PETROLUB SE (Preference Shares) (b) | 17,979 | ||
3,147 | GEA Group AG (b) | 101,846 | ||
307 | Hannover Rueck SE (b) | 46,021 | ||
2,273 | HeidelbergCement AG (b) | 89,793 | ||
4,718 | Henkel AG & Co., KGaA (Preference Shares) (b) | 280,188 | ||
275 | LEG Immobilien SE (b) | 16,415 | ||
195 | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (b) | 46,941 | ||
635 | SAP SE (b) | 51,749 | ||
1,227 | Scout24 AG (b) (c) (d) | 61,486 | ||
214 | Symrise AG (b) | 20,868 | ||
1,182 | Talanx AG (b) | 41,855 | ||
18,535 | Telefonica Deutschland Holding AG (b) | 37,474 | ||
2,050 | United Internet AG (b) | 38,322 | ||
675 | Vonovia SE (b) | 14,568 | ||
1,213,619 | ||||
Greece – 0.0% | ||||
281 | Hellenic Telecommunications Organization S.A. (b) | 4,080 | ||
23 | OPAP S.A. (b) | 276 | ||
4,356 | ||||
Hong Kong – 2.0% | ||||
7,851 | AIA Group Ltd. (b) | 65,367 | ||
1,870 | CLP Holdings, Ltd. (b) | 14,133 | ||
3,111 | Galaxy Entertainment Group Ltd. (b) | 18,286 | ||
5,838 | Hang Lung Properties Ltd. (b) | 9,587 | ||
4,224 | Hang Seng Bank Ltd. (b) | 64,173 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
Hong Kong (Continued) | ||||
2,782 | Henderson Land Development Co., Ltd. (b) | $7,790 | ||
14,417 | Hong Kong & China Gas Co., Ltd. (b) | 12,699 | ||
1,715 | Hong Kong Exchanges & Clearing Ltd. (b) | 58,623 | ||
1,902 | MTR Corp., Ltd. (b) | 8,724 | ||
3,393 | New World Development Co., Ltd. (b) | 9,637 | ||
2,419 | Power Assets Holdings Ltd. (b) | 12,126 | ||
8,905 | Sino Land Co., Ltd. (b) | 11,713 | ||
966 | Sun Hung Kai Properties Ltd. (b) | 10,661 | ||
1,640 | Swire Pacific Ltd., Class A (b) | 12,258 | ||
1,158 | Techtronic Industries Co., Ltd. (b) | 11,050 | ||
326,827 | ||||
Ireland – 0.8% | ||||
2,142 | AIB Group PLC (b) | 5,213 | ||
739 | Bank of Ireland Group PLC (b) | 4,740 | ||
694 | CRH PLC (b) | 22,313 | ||
1,043 | DCC PLC (b) | 54,166 | ||
190 | Kerry Group PLC, Class A (b) | 16,935 | ||
282 | Kingspan Group PLC (b) | 12,705 | ||
255 | Ryanair Holdings PLC, ADR (f) | 14,897 | ||
130,969 | ||||
Israel – 0.5% | ||||
46 | Azrieli Group Ltd. (b) | 3,139 | ||
1,072 | Bank Hapoalim BM (b) | 9,049 | ||
986 | Bank Leumi Le-Israel BM (b) | 8,421 | ||
27 | Elbit Systems Ltd. (b) | 5,112 | ||
786 | ICL Group Ltd. (b) | 6,299 | ||
1,706 | Israel Discount Bank Ltd., Class A (b) | 8,590 | ||
272 | Mizrahi Tefahot Bank Ltd. (b) | 9,523 | ||
78 | Nice, Ltd. (b) (f) | 14,678 | ||
1,395 | Teva Pharmaceutical Industries Ltd. (b) (f) | 11,132 | ||
75,943 | ||||
Italy – 1.6% | ||||
9,639 | A2A S.p.A. (b) | 9,364 | ||
126 | Amplifon S.p.A. (b) | 3,283 | ||
958 | Assicurazioni Generali S.p.A. (b) | 13,081 | ||
472 | Atlantia S.p.A. (b) | 10,415 | ||
2,566 | Banca Mediolanum S.p.A. (b) | 16,069 | ||
232 | De’ Longhi S.p.A. (b) | 3,391 | ||
2,467 | Enel S.p.A. (b) | 10,118 | ||
2,458 | Eni S.p.A. (b) | 26,125 | ||
1,440 | FinecoBank Banca Fineco S.p.A. (b) | 17,785 | ||
4,478 | Hera S.p.A. (b) | 9,515 | ||
1,144 | Infrastrutture Wireless Italiane S.p.A. (b) (c) (d) | 9,981 |
Shares | Description | Value | ||
Italy (Continued) | ||||
195 | Interpump Group S.p.A. (b) | $6,307 | ||
9,553 | Intesa Sanpaolo S.p.A. (b) | 15,791 | ||
2,571 | Italgas S.p.A. (b) | 11,939 | ||
2,159 | Mediobanca Banca di Credito Finanziario S.p.A. (b) | 16,893 | ||
113 | Moncler S.p.A. (b) | 4,613 | ||
849 | Nexi S.P.A (b) (c) (d) (f) | 6,858 | ||
1,163 | Pirelli & C S.p.A. (b) (c) (d) | 3,788 | ||
1,929 | Poste Italiane S.p.A. (b) (c) (d) | 14,574 | ||
288 | Prysmian S.p.A. (b) | 8,249 | ||
110 | Recordati Industria Chimica e Farmaceutica S.p.A. (b) | 4,026 | ||
6,243 | Snam S.p.A. (b) | 25,234 | ||
1,926 | Terna-Rete Elettrica Nazionale S.p.A. (b) | 11,730 | ||
259,129 | ||||
Japan – 19.5% | ||||
900 | Chubu Electric Power Co., Inc. (b) | 8,094 | ||
14,300 | Hitachi Metals Ltd. (b) (f) | 215,140 | ||
33,900 | Japan Post Holdings Co., Ltd. (b) | 224,595 | ||
2,600 | Japan Tobacco, Inc. (b) | 42,725 | ||
1,000 | Kansai Electric Power (The) Co., Inc. (b) | 8,366 | ||
1,100 | Kao Corp. (b) | 44,759 | ||
3,000 | KDDI Corp. (b) | 87,709 | ||
3,000 | Kirin Holdings Co., Ltd. (b) | 46,217 | ||
800 | MEIJI Holdings Co., Ltd. (b) (g) | 35,512 | ||
1,700 | Mitsubishi Estate Co., Ltd. (b) | 22,400 | ||
19,800 | Mizuho Financial Group, Inc. (b) | 214,328 | ||
3,300 | Nippon Telegraph & Telephone Corp. (b) | 89,009 | ||
600 | Nissin Foods Holdings Co., Ltd. (b) | 41,706 | ||
600 | Osaka Gas Co., Ltd. (b) | 9,046 | ||
8,300 | Secom Co., Ltd. (b) | 473,259 | ||
31,500 | Sekisui House Ltd. (b) | 521,712 | ||
8,300 | Softbank Corp. (b) | 82,883 | ||
14,400 | Takeda Pharmaceutical Co., Ltd. (b) | 373,936 | ||
300 | Tokyo Gas Co., Ltd. (b) | 5,064 | ||
36,600 | USS Co., Ltd. (b) | 565,255 | ||
3,111,715 | ||||
Jersey – 0.4% | ||||
598 | Ferguson PLC (b) | 62,030 | ||
Luxembourg – 0.1% | ||||
417 | ArcelorMittal S.A. (b) | 8,298 | ||
Netherlands – 4.1% | ||||
443 | Aalberts N.V. (b) | 14,448 | ||
1,510 | ABN AMRO Bank N.V. (b) (c) (d) | 13,530 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
Netherlands (Continued) | ||||
11 | Adyen N.V. (b) (c) (d) (f) | $13,719 | ||
3,657 | Aegon N.V. (b) | 14,536 | ||
158 | Akzo Nobel N.V. (b) | 8,954 | ||
58 | Argenx SE (b) (f) | 20,641 | ||
240 | ASM International N.V. (b) | 53,738 | ||
131 | ASML Holding N.V. (b) | 54,270 | ||
416 | ASR Nederland N.V. (b) | 15,992 | ||
1,025 | BE Semiconductor Industries N.V. (b) | 43,881 | ||
683 | Davide Campari-Milano N.V. (b) | 6,043 | ||
624 | Euronext N.V. (b) (c) (d) | 39,491 | ||
371 | Heineken Holding N.V. (b) | 25,398 | ||
305 | Heineken N.V. (b) | 26,636 | ||
79 | IMCD N.V. (b) | 9,366 | ||
1,897 | ING Groep N.V. (b) | 16,254 | ||
907 | Koninklijke Ahold Delhaize N.V. (b) | 23,103 | ||
163 | Koninklijke DSM N.V. (b) | 18,548 | ||
3,378 | Koninklijke KPN N.V. (b) | 9,142 | ||
1,073 | Koninklijke Philips N.V. (b) | 16,520 | ||
383 | NN Group N.V. (b) | 14,896 | ||
379 | OCI N.V. (b) | 13,876 | ||
1,643 | Prosus N.V. (b) | 85,480 | ||
377 | Randstad N.V. (b) | 16,272 | ||
486 | Signify N.V. (b) (c) (d) | 12,508 | ||
635 | Wolters Kluwer N.V. (b) | 61,832 | ||
649,074 | ||||
New Zealand – 0.2% | ||||
2,714 | Auckland International Airport Ltd. (b) (f) | 10,879 | ||
305 | EBOS Group Ltd. (b) | 6,420 | ||
519 | Fisher & Paykel Healthcare Corp., Ltd. (b) | 5,379 | ||
2,387 | Spark New Zealand Ltd. (b) | 6,678 | ||
155 | Xero Ltd. (b) (f) | 7,173 | ||
36,529 | ||||
Norway – 0.8% | ||||
283 | Adevinta ASA (b) (f) | 1,686 | ||
90 | Aker ASA, Class A (b) | 5,816 | ||
769 | Aker BP ASA (b) | 22,074 | ||
366 | DNB Bank ASA (b) | 5,808 | ||
774 | Equinor ASA (b) | 25,526 | ||
335 | Gjensidige Forsikring ASA (b) | 5,748 | ||
139 | Kongsberg Gruppen ASA (b) | 4,218 | ||
803 | Leroy Seafood Group ASA (b) | 3,167 | ||
274 | Mowi ASA (b) | 3,485 | ||
167 | Nordic Semiconductor ASA (b) (f) | 2,206 | ||
1,291 | Norsk Hydro ASA (b) | 6,927 | ||
831 | Orkla ASA (b) | 6,041 | ||
91 | Salmar ASA (b) | 3,067 | ||
174 | Schibsted ASA, Class A (b) | 2,348 | ||
827 | Storebrand ASA (b) | 5,725 |
Shares | Description | Value | ||
Norway (Continued) | ||||
823 | Telenor ASA (b) | $7,532 | ||
214 | TOMRA Systems ASA (b) | 3,776 | ||
243 | Yara International ASA (b) | 8,528 | ||
123,678 | ||||
Portugal – 0.2% | ||||
3,345 | EDP - Energias de Portugal S.A. (b) | 14,517 | ||
594 | Galp Energia SGPS S.A. (b) | 5,715 | ||
314 | Jeronimo Martins SGPS S.A. (b) | 5,848 | ||
26,080 | ||||
Singapore – 1.2% | ||||
1,500 | DBS Group Holdings Ltd. (b) | 34,700 | ||
7,500 | Genting Singapore Ltd. (b) | 4,076 | ||
200 | Jardine Cycle & Carriage Ltd. (b) | 4,678 | ||
1,800 | Keppel Corp., Ltd. (b) | 8,661 | ||
4,600 | Oversea-Chinese Banking Corp., Ltd. (b) | 37,692 | ||
1,100 | Singapore Airlines Ltd. (b) (f) | 3,888 | ||
5,500 | Singapore Exchange Ltd. (b) | 36,082 | ||
3,800 | Singapore Technologies Engineering Ltd. (b) | 9,441 | ||
9,900 | Singapore Telecommunications Ltd. (b) | 18,268 | ||
1,700 | United Overseas Bank Ltd. (b) | 30,791 | ||
3,500 | Wilmar International Ltd. (b) | 9,311 | ||
197,588 | ||||
South Korea – 4.3% | ||||
318 | Hana Financial Group, Inc. (b) | 7,809 | ||
134 | Hyundai Glovis Co., Ltd. (b) | 15,082 | ||
163 | Hyundai Mobis Co., Ltd. (b) | 21,517 | ||
198 | Hyundai Motor Co. (b) | 24,164 | ||
1,426 | Industrial Bank of Korea (b) | 9,430 | ||
254 | KB Financial Group, Inc. (b) | 7,670 | ||
479 | Kia Corp. (b) | 23,841 | ||
353 | Korea Electric Power Corp. (b) (f) | 4,918 | ||
135 | Korea Zinc Co., Ltd. (b) | 55,818 | ||
1,174 | Korean Air Lines Co., Ltd. (b) (f) | 17,914 | ||
702 | KT Corp., ADR | 8,578 | ||
151 | KT&G Corp. (b) | 9,117 | ||
14 | LG H&H Co. Ltd. (b) | 6,136 | ||
1,808 | Mirae Asset Securities Co., Ltd. (b) | 7,485 | ||
442 | NAVER Corp. (b) | 58,882 | ||
227 | Samsung C&T Corp. (b) | 16,266 | ||
2,162 | Samsung Electronics Co., Ltd. (b) | 79,387 | ||
71 | Samsung Fire & Marine Insurance Co., Ltd. (b) | 9,081 | ||
235 | Samsung Life Insurance Co., Ltd. (b) | 10,179 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
South Korea (Continued) | ||||
251 | Samsung SDI Co., Ltd. (b) | $94,412 | ||
1,087 | Samsung SDS Co., Ltd. (b) | 86,567 | ||
371 | Shinhan Financial Group Co., Ltd. (b) | 8,618 | ||
222 | SK Telecom Co., Ltd. (b) | 7,837 | ||
622 | SK, Inc. (b) | 82,584 | ||
1,008 | Woori Financial Group, Inc. (b) | 7,481 | ||
680,773 | ||||
Spain – 2.4% | ||||
51 | Acciona S.A. (b) | 8,964 | ||
374 | ACS Actividades de Construccion y Servicios S.A. (b) | 8,404 | ||
59 | Aena SME S.A. (b) (c) (d) (f) | 6,123 | ||
547 | Amadeus IT Group S.A. (b) (f) | 25,360 | ||
5,030 | Banco Bilbao Vizcaya Argentaria S.A. (b) | 22,564 | ||
8,454 | Banco Santander S.A. (b) | 19,672 | ||
4,923 | Bankinter S.A. (b) | 27,642 | ||
8,518 | CaixaBank S.A. (b) | 27,435 | ||
714 | Cellnex Telecom S.A. (b) (c) (d) | 22,024 | ||
542 | Enagas S.A. (b) | 8,390 | ||
1,283 | Endesa S.A. (b) | 19,270 | ||
382 | Ferrovial S.A. (b) | 8,671 | ||
347 | Fluidra S.A. (b) | 5,203 | ||
570 | Grifols S.A. (b) (f) | 4,924 | ||
2,562 | Iberdrola S.A. (b) | 23,889 | ||
1,434 | Industria de Diseno Textil S.A. (b) | 29,593 | ||
13,794 | Mapfre S.A. (b) | 21,363 | ||
936 | Naturgy Energy Group S.A. (b) | 21,653 | ||
1,366 | Red Electrica Corp. S.A. (b) | 20,962 | ||
918 | Repsol S.A. (b) | 10,548 | ||
686 | Siemens Gamesa Renewable Energy S.A. (b) (f) | 11,960 | ||
7,107 | Telefonica S.A. (b) | 23,495 | ||
378,109 | ||||
Sweden – 3.0% | ||||
538 | AAK AB (b) | 7,113 | ||
1,263 | Alfa Laval AB (b) | 31,319 | ||
1,614 | Assa Abloy AB, Class B (b) | 30,240 | ||
3,403 | Atlas Copco AB, Class A (b) | 31,629 | ||
307 | Axfood AB (b) | 7,034 | ||
713 | Castellum AB (b) | 7,989 | ||
1,698 | Electrolux AB, Class B (b) | 17,648 | ||
2,032 | Epiroc AB, Class A (b) | 29,069 | ||
424 | Essity AB, Class B (b) | 8,377 | ||
1,192 | Fabege AB (b) | 8,097 | ||
2,958 | Hexagon AB, Class B (b) | 27,625 | ||
459 | Holmen AB, Class B (b) | 17,418 | ||
985 | Industrivarden AB, Class C (b) | 19,645 | ||
1,259 | Investor AB, Class B (b) | 18,370 |
Shares | Description | Value | ||
Sweden (Continued) | ||||
539 | L E Lundbergforetagen AB, Class B (b) | $19,458 | ||
2,537 | Skandinaviska Enskilda Banken AB, Class A (b) | 24,179 | ||
1,944 | Skanska AB, Class B (b) | 24,195 | ||
1,326 | Svenska Cellulosa AB SCA, Class B (b) | 16,825 | ||
2,991 | Svenska Handelsbanken AB, Class A (b) | 24,553 | ||
1,843 | Swedbank AB, Class A (b) | 24,191 | ||
1,328 | Swedish Match AB (b) | 13,136 | ||
2,115 | Tele2 AB, Class B (b) | 18,251 | ||
7,291 | Telia Co., AB (b) | 20,999 | ||
2,327 | Volvo AB, Class B (b) | 32,929 | ||
480,289 | ||||
Switzerland – 10.3% | ||||
1,395 | ABB Ltd. (b) | 36,018 | ||
314 | Baloise Holding AG (b) | 40,121 | ||
647 | Banque Cantonale Vaudoise (b) | 61,211 | ||
54 | Barry Callebaut AG (b) | 101,791 | ||
25 | BKW AG (b) | 2,979 | ||
10 | Chocoladefabriken Lindt & Spruengli AG (b) | 96,643 | ||
542 | DKSH Holding AG (b) | 39,326 | ||
112 | Emmi AG (b) | 87,014 | ||
27 | EMS-Chemie Holding AG (b) | 17,044 | ||
74 | Geberit AG (b) | 31,730 | ||
6 | Givaudan S.A. (b) | 18,126 | ||
430 | Helvetia Holding AG (b) | 40,293 | ||
931 | Holcim AG (b) | 38,153 | ||
943 | Nestle S.A. (b) | 101,992 | ||
4,562 | Novartis AG (b) | 347,793 | ||
65 | PSP Swiss Property AG (b) | 6,498 | ||
1,011 | Roche Holding AG (b) | 329,114 | ||
214 | Schindler Holding AG (b) | 33,213 | ||
327 | SFS Group AG (b) | 28,111 | ||
16 | SGS S.A. (b) | 34,236 | ||
87 | Swiss Life Holding AG (b) | 38,438 | ||
86 | Swiss Prime Site AG (b) | 6,850 | ||
587 | Swiss Re AG (b) | 43,294 | ||
32 | Swisscom AG (b) | 14,984 | ||
114 | Zurich Insurance Group AG (b) | 45,446 | ||
1,640,418 | ||||
United Kingdom – 9.9% | ||||
30,627 | Aviva PLC (b) | 131,354 | ||
8,618 | BAE Systems PLC (b) | 75,721 | ||
3,360 | Berkeley Group Holdings PLC (b) | 122,759 | ||
2,089 | British American Tobacco PLC (b) | 74,906 | ||
2,083 | Bunzl PLC (b) | 63,642 | ||
1,727 | Diageo PLC (b) | 72,696 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
United Kingdom (Continued) | ||||
49,729 | Direct Line Insurance Group PLC (b) | $102,599 | ||
18,343 | GSK PLC (b) | 264,923 | ||
4,144 | Imperial Brands PLC (b) | 85,213 | ||
2,003 | National Grid PLC (b) | 20,619 | ||
22,281 | Phoenix Group Holdings PLC (b) | 129,761 | ||
1,144 | Reckitt Benckiser Group PLC (b) | 75,826 | ||
5,273 | RELX PLC (b) | 128,850 | ||
2,666 | Sage Group (The) PLC (b) | 20,546 | ||
766 | Severn Trent PLC (b) | 20,024 | ||
1,344 | SSE PLC (b) | 22,695 | ||
24,182 | Tesco PLC (b) | 55,499 | ||
1,934 | Unilever PLC (b) | 84,980 | ||
2,090 | United Utilities Group PLC (b) | 20,637 | ||
1,573,250 | ||||
United States – 0.1% | ||||
337 | Autoliv, Inc., SDR (b) | 22,744 | ||
Total Common Stocks | 15,533,619 | |||
(Cost $19,439,816) | ||||
REAL ESTATE INVESTMENT TRUSTS (a) – 1.7% | ||||
Australia – 0.4% | ||||
2,415 | Dexus (b) | 12,013 | ||
1,155 | Goodman Group (b) | 11,673 | ||
5,106 | GPT (The) Group (b) | 12,567 | ||
10,622 | Mirvac Group (b) | 13,232 | ||
6,194 | Stockland (b) | 12,963 | ||
62,448 | ||||
Belgium – 0.0% | ||||
179 | Warehouses De Pauw CVA (b) | 4,396 | ||
Canada – 0.1% | ||||
222 | Granite Real Estate Investment Trust | 10,715 | ||
848 | RioCan Real Estate Investment Trust | 11,430 | ||
22,145 | ||||
France – 0.1% | ||||
171 | Gecina S.A. (b) | 13,393 | ||
Hong Kong – 0.1% | ||||
1,408 | Link REIT (b) | 9,829 | ||
Japan – 0.6% | ||||
9 | Daiwa House REIT Investment Corp. (b) | 18,796 | ||
16 | GLP J-REIT (b) | 17,745 | ||
3 | Japan Real Estate Investment Corp. (b) | 12,376 | ||
6 | Nippon Building Fund, Inc. (b) | 26,403 |
Shares | Description | Value | ||
Japan (Continued) | ||||
19 | Nomura Real Estate Master Fund, Inc. (b) | $21,000 | ||
96,320 | ||||
Multinational – 0.0% | ||||
129 | Unibail-Rodamco-Westfield (b) (f) | 5,338 | ||
Singapore – 0.2% | ||||
4,200 | CapitaLand Ascendas REIT (b) | 7,835 | ||
5,401 | CapitaLand Integrated Commercial Trust (b) | 7,184 | ||
4,600 | Mapletree Industrial Trust (b) | 7,612 | ||
6,600 | Mapletree Logistics Trust (b) | 7,131 | ||
29,762 | ||||
Spain – 0.0% | ||||
414 | Merlin Properties Socimi S.A. (b) | 3,195 | ||
United Kingdom – 0.2% | ||||
343 | Derwent London PLC (b) | 7,738 | ||
817 | Segro PLC (b) | 6,817 | ||
4,547 | Tritax Big Box REIT PLC (b) | 6,862 | ||
950 | UNITE Group (The) PLC (b) | 9,019 | ||
30,436 | ||||
Total Real Estate Investment Trusts | 277,262 | |||
(Cost $377,060) | ||||
MONEY MARKET FUNDS – 0.2% | ||||
33,624 | Goldman Sachs Financial Square Treasury Obligations Fund - Institutional Class - 2.77% (h) (i) | 33,624 | ||
(Cost $33,624) | ||||
Total Investments – 99.2% | 15,844,505 | |||
(Cost $19,850,500) | ||||
Net Other Assets and Liabilities – 0.8% | 120,821 | |||
Net Assets – 100.0% | $15,965,326 |
(a) | Portfolio securities are categorized based upon their country of incorporation, which can be different from the country categorization of the Fund’s underlying index. For a breakdown of the portfolio securities by sector, please see the Fund Performance Overview. |
(b) | This security is fair valued by the Advisor’s Pricing Committee in accordance with procedures approved by the Trust’s Board of Trustees and in accordance with provisions of the Investment Company Act of 1940 and rules thereunder, as amended. At September 30, 2022, securities noted as such are valued at $14,333,871 or 89.8% of net assets. Certain of these securities are fair valued using a factor provided by a third-party pricing service due to the change in value between the foreign markets’ close and the New York Stock Exchange close exceeding a certain threshold. On days when this threshold is not exceeded, these securities are typically valued at the last sale price on the exchange on which they are principally traded. |
(c) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933, as amended (the “1933 Act”). |
(d) | This security is exempt from registration upon resale under Rule 144A of the 1933 Act and may be resold in transactions exempt from registration, normally to qualified institutional buyers. This security is not restricted on the foreign exchange where it trades freely without any additional registration. As such, it does not require the additional disclosure required of restricted securities. |
(e) | Pursuant to procedures adopted by the Trust’s Board of Trustees, this security has been determined to be illiquid by First Trust Advisors L.P., the Fund’s advisor. |
(f) | Non-income producing security. |
(g) | All or a portion of this security is on loan (see Note 2E - Securities Lending in the Notes to Financial Statements). The remaining contractual maturity of all of the securities lending transactions is overnight and continuous. The aggregate value of such securities is $31,961 and the total value of the collateral held by the Fund is $33,624. |
(h) | Rate shown reflects yield as of September 30, 2022. |
(i) | This security serves as collateral for securities on loan. |
ADR | American Depositary Receipt |
SDR | Swedish Depositary Receipt |
Securities Lending Agency Agreement | |
Total gross amount presented on the Statements of Assets and Liabilities (1) | $31,961 |
Non-cash Collateral (2) | (31,961) |
Net Amount | $— |
(1) | The amount presented on the Statements of Assets and Liabilities, which is included in “Investments, at value,” is not offset and is shown on a gross basis. |
(2) | At September 30, 2022, the value of the collateral received from each borrower exceeded the value of the related securities loaned. This amount is disclosed on the Portfolio of Investments. |
Currency Exposure Diversification | % of Total Investments |
Euro | 27.7% |
Japanese Yen | 20.3 |
British Pound Sterling | 10.9 |
Swiss Franc | 10.4 |
Canadian Dollar | 9.1 |
Australian Dollar | 6.0 |
South Korean Won | 4.2 |
Swedish Krona | 3.4 |
Hong Kong Dollar | 2.6 |
Danish Krone | 2.2 |
Singapore Dollar | 1.4 |
Norwegian Krone | 0.8 |
Israeli Shekel | 0.5 |
United States Dollar | 0.3 |
New Zealand Dollar | 0.2 |
Total | 100.0% |
Total Value at 9/30/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks: | ||||
Canada | $ 1,418,081 | $ 1,418,081 | $ — | $ — |
Cayman Islands | 54,696 | — | 52,669 | 2,027 |
Denmark | 354,027 | 13,309 | 340,718 | — |
Ireland | 130,969 | 14,897 | 116,072 | — |
South Korea | 680,773 | 8,578 | 672,195 | — |
Other Country Categories* | 12,895,073 | — | 12,895,073 | — |
Real Estate Investment Trusts: | ||||
Canada | 22,145 | 22,145 | — | — |
Other Country Categories* | 255,117 | — | 255,117 | — |
Money Market Funds | 33,624 | 33,624 | — | — |
Total Investments | $ 15,844,505 | $ 1,510,634 | $ 14,331,844 | $ 2,027 |
* | See Portfolio of Investments for country breakout. |
Shares | Description | Value | ||
COMMON STOCKS (a) – 99.6% | ||||
Bermuda – 0.3% | ||||
164 | Credicorp Ltd. | $20,139 | ||
Brazil – 10.2% | ||||
7,471 | Ambev S.A. | 21,522 | ||
5,109 | Atacadao S.A. | 18,308 | ||
13,276 | Banco Bradesco S.A. (Preference Shares) | 48,828 | ||
7,729 | Banco do Brasil S.A. | 55,191 | ||
7,272 | Banco Santander Brasil S.A. | 40,901 | ||
10,492 | BB Seguridade Participacoes S.A. | 51,679 | ||
949 | Cia de Saneamento Basico do Estado de Sao Paulo | 8,726 | ||
2,223 | Cia de Saneamento do Parana | 7,068 | ||
3,870 | Cia Energetica de Minas Gerais (Preference Shares) | 7,719 | ||
5,990 | Cia Paranaense de Energia, Class B (Preference Shares) | 7,307 | ||
35,317 | Cosan S.A. | 113,787 | ||
1,925 | EDP - Energias do Brasil S.A. | 7,790 | ||
928 | Energisa S.A. | 7,206 | ||
1,047 | Engie Brasil Energia S.A. | 7,475 | ||
1,664 | Equatorial Energia S.A. | 8,298 | ||
5,969 | Hypera S.A. | 48,964 | ||
9,759 | Itau Unibanco Holding S.A. (Preference Shares) | 50,764 | ||
24,947 | Itausa S.A. (Preference Shares) | 44,998 | ||
3,090 | JBS S.A. | 14,389 | ||
44,412 | Klabin S.A. | 149,430 | ||
12,704 | Porto Seguro S.A. | 49,762 | ||
4,806 | Raia Drogasil S.A. | 20,251 | ||
694 | Telefonica Brasil S.A. | 5,209 | ||
2,702 | TIM S.A. | 6,051 | ||
1,026 | Transmissora Alianca de Energia Eletrica S.A. | 7,408 | ||
809,031 | ||||
Cayman Islands – 4.4% | ||||
10,333 | China Mengniu Dairy Co., Ltd. (b) | 40,847 | ||
64,866 | ESR Group Ltd. (b) (c) (d) | 163,162 | ||
11,833 | Hengan International Group Co., Ltd. (b) | 52,903 | ||
32,000 | Tingyi Cayman Islands Holding Corp. (b) | 55,108 | ||
60,666 | Want Want China Holdings Ltd. (b) | 39,619 | ||
351,639 | ||||
Chile – 1.0% | ||||
120,959 | Banco de Chile (b) | 10,647 | ||
229,962 | Banco Santander Chile | 8,034 | ||
4,405 | Cencosud S.A. (b) | 5,572 | ||
49,356 | Cia Sud Americana de Vapores S.A. (b) | 3,401 |
Shares | Description | Value | ||
Chile (Continued) | ||||
998 | Empresas Copec S.A. | $6,393 | ||
2,921 | Falabella S.A. (b) | 5,825 | ||
415 | Sociedad Quimica y Minera de Chile S.A., Class B (Preference Shares) (b) | 38,623 | ||
78,495 | ||||
China – 11.3% | ||||
125,761 | Agricultural Bank of China Ltd., Class H (b) | 37,640 | ||
120,194 | Bank of China Ltd., Class H (b) | 39,255 | ||
66,897 | Bank of Communications Co., Ltd., Class H (b) | 35,267 | ||
95,534 | China CITIC Bank Corp., Ltd., Class H (b) | 37,912 | ||
64,598 | China Construction Bank Corp., Class H (b) | 37,286 | ||
127,000 | China Everbright Bank Co., Ltd., Class H (b) | 34,870 | ||
31,000 | China Life Insurance Co., Ltd., Class H (b) | 39,662 | ||
128,098 | China Minsheng Banking Corp., Ltd., Class H (b) | 36,629 | ||
341,999 | China Petroleum & Chemical Corp., Class H (b) | 146,043 | ||
223,999 | China Railway Group Ltd., Class H (b) | 110,008 | ||
733,331 | China Tower Corp., Ltd., Class H (b) (c) (d) | 78,350 | ||
63,466 | Haitong Securities Co., Ltd., Class H (b) | 33,562 | ||
31,467 | Huatai Securities Co., Ltd., Class H (b) (c) (d) | 34,510 | ||
78,398 | Industrial & Commercial Bank of China Ltd., Class H (b) | 36,777 | ||
17,233 | New China Life Insurance Co., Ltd., Class H (b) | 32,820 | ||
147,000 | People’s Insurance Co. Group of China (The) Ltd., Class H (b) | 42,589 | ||
48,000 | PICC Property & Casualty Co., Ltd., Class H (b) | 49,636 | ||
60,000 | Postal Savings Bank of China Co., Ltd., Class H (b) (c) (d) | 35,266 | ||
898,082 | ||||
Colombia – 0.1% | ||||
1,822 | Bancolombia S.A. (Preference Shares) | 11,074 | ||
Czech Republic – 0.2% | ||||
400 | CEZ A.S. | 13,707 | ||
188 | Komercni Banka A.S. (b) | 4,702 | ||
18,409 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
Egypt – 0.1% | ||||
6,404 | Commercial International Bank Egypt SAE (b) | $8,222 | ||
Hong Kong – 1.2% | ||||
12,600 | BOC Hong Kong Holdings Ltd. (b) | 41,904 | ||
68,400 | Guangdong Investment Ltd. (b) | 54,639 | ||
96,543 | ||||
Hungary – 0.3% | ||||
1,217 | MOL Hungarian Oil & Gas PLC (b) | 6,759 | ||
548 | OTP Bank Nyrt (b) | 9,997 | ||
323 | Richter Gedeon Nyrt (b) | 5,532 | ||
22,288 | ||||
India – 25.3% | ||||
2,940 | ACC Ltd. (b) | 86,907 | ||
1,789 | Bajaj Auto Ltd. (b) | 77,190 | ||
9,038 | Berger Paints India Ltd. (b) | 68,209 | ||
605 | Britannia Industries Ltd. (b) | 28,469 | ||
3,787 | Cipla Ltd. (b) | 51,630 | ||
1,257 | Colgate-Palmolive India Ltd. (b) | 25,115 | ||
3,616 | Dabur India Ltd. (b) | 25,340 | ||
898 | Dr. Reddy’s Laboratories Ltd. (b) | 47,534 | ||
11,417 | HCL Technologies Ltd. (b) | 129,664 | ||
15,080 | HDFC Bank Ltd. (b) | 261,269 | ||
2,848 | Hero MotoCorp Ltd. (b) | 88,644 | ||
946 | Hindustan Unilever Ltd. (b) | 31,198 | ||
6,968 | Infosys Ltd. (b) | 119,448 | ||
7,736 | ITC Ltd. (b) | 31,441 | ||
3,578 | Larsen & Toubro Ltd. (b) | 80,774 | ||
3,849 | Marico Ltd. (b) | 25,338 | ||
100 | MRF Ltd. (b) | 99,878 | ||
112 | Nestle India Ltd. (b) | 26,269 | ||
61,136 | Petronet LNG Ltd. (b) | 149,482 | ||
4,304 | Pidilite Industries Ltd. (b) | 141,441 | ||
4,496 | Reliance Industries Ltd. (b) | 130,483 | ||
4,215 | Sun Pharmaceutical Industries Ltd. (b) | 48,952 | ||
3,553 | Tata Consultancy Services Ltd. (b) | 130,214 | ||
2,494 | Tata Consumer Products Ltd. (b) | 24,519 | ||
958 | UltraTech Cement Ltd. (b) | 73,280 | ||
2,002,688 | ||||
Indonesia – 3.7% | ||||
25,742 | Adaro Energy Indonesia Tbk PT (b) | 6,638 | ||
37,511 | Aneka Tambang Tbk (b) | 4,753 | ||
50,142 | Astra International Tbk PT (b) | 21,699 | ||
74,905 | Bank Central Asia Tbk PT (b) | 41,815 | ||
75,616 | Bank Mandiri Persero Tbk PT (b) | 46,431 |
Shares | Description | Value | ||
Indonesia (Continued) | ||||
72,408 | Bank Negara Indonesia Persero Tbk PT (b) | $42,351 | ||
128,190 | Bank Rakyat Indonesia Persero Tbk PT (b) | 37,518 | ||
25,435 | Berkah Beton Sadaya Tbk PT | 6,765 | ||
21,048 | Bukit Asam Tbk PT (b) | 5,732 | ||
20,205 | Merdeka Copper Gold Tbk PT (b) (e) | 5,201 | ||
25,821 | Perusahaan Gas Negara Tbk PT (b) | 2,957 | ||
16,064 | Semen Indonesia Persero Tbk PT (b) | 7,856 | ||
75,681 | Telkom Indonesia Persero Tbk PT (b) | 22,057 | ||
120,773 | Tower Bersama Infrastructure Tbk PT (b) | 22,378 | ||
4,181 | United Tractors Tbk PT (b) | 8,977 | ||
13,661 | Vale Indonesia Tbk PT (b) (e) | 5,695 | ||
288,823 | ||||
Luxembourg – 0.1% | ||||
829 | Allegro.eu S.A. (b) (c) (d) (e) | 3,566 | ||
Malaysia – 1.7% | ||||
14,100 | CIMB Group Holdings Bhd (b) | 15,547 | ||
6,900 | Genting Bhd (b) | 6,640 | ||
10,900 | Genting Malaysia Bhd (b) | 6,532 | ||
5,400 | Hartalega Holdings Bhd (b) | 1,925 | ||
3,700 | Hong Leong Bank Bhd (b) | 16,331 | ||
4,300 | IHH Healthcare Bhd (b) | 5,451 | ||
5,300 | Inari Amertron Bhd (b) | 2,842 | ||
7,700 | IOI Corp. Bhd (b) | 6,240 | ||
1,300 | Kuala Lumpur Kepong Bhd (b) | 5,791 | ||
8,400 | Malayan Banking Bhd (b) | 15,514 | ||
11,600 | Press Metal Aluminium Holdings Bhd (b) | 10,046 | ||
16,100 | Public Bank Bhd (b) | 14,653 | ||
12,600 | RHB Bank Bhd (b) | 15,055 | ||
6,400 | Sime Darby Plantation Bhd (b) | 5,627 | ||
4,700 | Tenaga Nasional Bhd (b) | 8,148 | ||
13,700 | Top Glove Corp. Bhd (b) | 1,837 | ||
138,179 | ||||
Mexico – 4.1% | ||||
22,157 | Alfa S.A.B. de C.V., Class A | 14,082 | ||
28,066 | America Movil S.A.B. de C.V., Series L | 23,120 | ||
2,510 | Arca Continental S.A.B. de C.V. | 18,073 | ||
10,073 | Banco del Bajio S.A. (c) (d) | 25,503 | ||
31,318 | Cemex S.A.B. de C.V., Series CPO (e) | 10,823 | ||
2,053 | Fomento Economico Mexicano S.A.B. de C.V., Series UBD | 12,877 | ||
1,357 | Gruma S.A.B. de C.V., Class B | 12,922 | ||
2,249 | Grupo Aeroportuario del Centro Norte S.A.B. de C.V. | 14,148 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
Mexico (Continued) | ||||
1,038 | Grupo Aeroportuario del Pacifico S.A.B. de C.V., Class B | $13,143 | ||
764 | Grupo Aeroportuario del Sureste S.A.B. de C.V., Class B | 15,022 | ||
5,652 | Grupo Bimbo S.A.B. de C.V., Series A | 19,861 | ||
3,678 | Grupo Financiero Banorte S.A.B. de C.V., Class O | 23,561 | ||
13,201 | Grupo Financiero Inbursa S.A.B. de C.V., Class O (e) | 20,956 | ||
8,358 | Grupo Mexico S.A.B. de C.V., Series B | 28,229 | ||
14,552 | Grupo Televisa S.A.B., Series CPO | 15,701 | ||
12,132 | Kimberly-Clark de Mexico S.A.B. de C.V., Class A | 16,120 | ||
6,376 | Orbia Advance Corp. S.A.B. de C.V. | 10,732 | ||
1,403 | Sitios Latinoamerica S.A.B. de C.V. (e) | 626 | ||
8,306 | Wal-Mart de Mexico S.A.B. de C.V. | 29,171 | ||
324,670 | ||||
Netherlands – 0.1% | ||||
989 | NEPI Rockcastle N.V. (b) | 4,404 | ||
247 | X5 Retail Group N.V., GDR (b) (c) (f) (g) | 14 | ||
4,418 | ||||
Philippines – 1.4% | ||||
39,710 | Ayala Land, Inc. (b) | 15,417 | ||
11,500 | BDO Unibank, Inc. (b) | 21,788 | ||
27,400 | Converge Information and Communications Technology Solutions Inc. (b) (e) | 6,091 | ||
9,710 | International Container Terminal Services, Inc. (b) | 25,896 | ||
2,080 | SM Investments Corp. (b) | 25,618 | ||
36,800 | SM Prime Holdings, Inc. (b) | 18,858 | ||
113,668 | ||||
Poland – 0.7% | ||||
417 | Bank Polska Kasa Opieki S.A. (b) | 5,064 | ||
170 | CD Projekt S.A. (b) | 3,404 | ||
119 | Dino Polska S.A. (b) (c) (d) (e) | 7,208 | ||
287 | KGHM Polska Miedz S.A. (b) | 5,012 | ||
3 | LPP S.A. (b) | 4,680 | ||
1,992 | PGE Polska Grupa Energetyczna S.A. (b) (e) | 2,506 | ||
899 | Polski Koncern Naftowy ORLEN S.A. (b) | 9,651 | ||
1,182 | Powszechna Kasa Oszczednosci Bank Polski S.A. (b) | 5,164 |
Shares | Description | Value | ||
Poland (Continued) | ||||
1,392 | Powszechny Zaklad Ubezpieczen S.A. (b) | $6,458 | ||
154 | Santander Bank Polska S.A. (b) | 6,073 | ||
55,220 | ||||
Russia – 0.0% | ||||
7,696 | Alrosa PJSC (b) (f) (g) | 275 | ||
40,399 | Credit Bank of Moscow PJSC (b) (e) (f) (g) | 87 | ||
172,018 | Inter RAO UES PJSC (b) (f) (g) | 204 | ||
96 | Magnit PJSC (b) (f) (g) | 124 | ||
15,021 | Magnitogorsk Iron & Steel Works PJSC (b) (f) (g) | 302 | ||
47 | MMC Norilsk Nickel PJSC (b) (f) (g) | 391 | ||
2,140 | Mobile TeleSystems PJSC (b) (f) (g) | 209 | ||
1,668 | Moscow Exchange MICEX-RTS PJSC (b) (e) (f) (g) | 69 | ||
4,741 | Novolipetsk Steel PJSC (b) (f) (g) | 370 | ||
85 | Polyus PJSC (b) (f) (g) | 393 | ||
676 | Severstal PAO (b) (f) (g) | 396 | ||
10,776 | Sistema PJSFC (b) (e) (f) (g) | 56 | ||
3,253 | Tatneft PJSC (b) (f) (g) | 507 | ||
3,383 | ||||
South Africa – 2.9% | ||||
1,708 | Absa Group Ltd. (b) | 16,591 | ||
814 | Aspen Pharmacare Holdings Ltd. (b) | 6,016 | ||
564 | Bid Corp., Ltd. | 8,688 | ||
615 | Bidvest Group (The) Ltd. (b) | 6,662 | ||
140 | Capitec Bank Holdings Ltd. (b) | 11,994 | ||
580 | Clicks Group Ltd. | 9,147 | ||
1,785 | Discovery Ltd. (b) (e) | 10,305 | ||
398 | Exxaro Resources Ltd. (b) | 4,420 | ||
4,198 | FirstRand Ltd. (b) | 14,014 | ||
596 | Foschini Group (The) Ltd. (b) | 3,874 | ||
406 | Mr Price Group Ltd. (b) | 3,868 | ||
1,531 | MTN Group Ltd. (b) | 10,102 | ||
2,209 | MultiChoice Group | 14,113 | ||
1,395 | Nedbank Group Ltd. (b) | 15,348 | ||
23,619 | Old Mutual Ltd. (b) | 12,692 | ||
3,786 | Pepkor Holdings Ltd. (c) (d) | 4,344 | ||
2,171 | Remgro Ltd. (b) | 15,927 | ||
4,505 | Sanlam Ltd. (b) | 12,743 | ||
757 | Shoprite Holdings Ltd. (b) | 9,038 | ||
1,786 | Standard Bank Group Ltd. (b) | 14,109 | ||
1,107 | Tiger Brands Ltd. (b) | 10,312 | ||
1,819 | Vodacom Group Ltd. (b) | 12,222 | ||
1,520 | Woolworths Holdings Ltd. (b) | 5,108 | ||
231,637 | ||||
Taiwan – 24.4% | ||||
70,866 | Asia Cement Corp. (b) | 87,741 |
Shares | Description | Value | ||
COMMON STOCKS (a) (Continued) | ||||
Taiwan (Continued) | ||||
73,886 | Chang Hwa Commercial Bank Ltd. (b) | $39,802 | ||
6,695 | Chunghwa Telecom Co., Ltd. (b) | 23,962 | ||
312,823 | Compal Electronics, Inc. (b) | 213,309 | ||
47,650 | CTBC Financial Holding Co., Ltd. (b) | 29,643 | ||
45,244 | E.Sun Financial Holding Co., Ltd. (b) | 36,608 | ||
11,569 | Far EasTone Telecommunications Co., Ltd. (b) | 26,323 | ||
50,226 | First Financial Holding Co., Ltd. (b) | 41,002 | ||
28,804 | Formosa Chemicals & Fibre Corp. (b) | 62,477 | ||
10,069 | Highwealth Construction Corp. (b) | 12,346 | ||
59,488 | Hua Nan Financial Holdings Co., Ltd. (b) | 41,502 | ||
339,420 | Inventec Corp. (b) | 244,001 | ||
33,471 | Mega Financial Holding Co., Ltd. (b) | 32,748 | ||
24,415 | Nan Ya Plastics Corp. (b) | 51,233 | ||
115,797 | Pegatron Corp. (b) | 212,535 | ||
2,721 | President Chain Store Corp. (b) | 24,143 | ||
94,945 | Quanta Computer, Inc. (b) | 229,831 | ||
76,897 | SinoPac Financial Holdings Co., Ltd. (b) | 41,724 | ||
71,719 | Taishin Financial Holding Co., Ltd. (b) | 30,832 | ||
113,053 | Taiwan Business Bank (b) | 44,668 | ||
75,917 | Taiwan Cement Corp. (b) | 80,853 | ||
48,830 | Taiwan Cooperative Financial Holding Co., Ltd. (b) | 40,203 | ||
8,098 | Taiwan Mobile Co., Ltd. (b) | 24,373 | ||
10,908 | Uni-President Enterprises Corp. (b) | 23,068 | ||
281,804 | Wistron Corp. (b) | 235,101 | ||
1,930,028 | ||||
Thailand – 5.3% | ||||
2,800 | Advanced Info Service PCL | 14,475 | ||
7,600 | Airports of Thailand PCL (e) | 14,608 | ||
8,100 | Bangkok Bank PCL (b) | 29,283 | ||
17,900 | Bangkok Dusit Medical Services PCL, Class F | 13,999 | ||
58,000 | Bangkok Expressway & Metro PCL | 14,146 | ||
14,000 | Berli Jucker PCL | 12,155 | ||
78,100 | BTS Group Holdings PCL | 17,185 | ||
2,900 | Bumrungrad Hospital PCL | 17,452 | ||
23,300 | Charoen Pokphand Foods PCL | 15,443 | ||
8,600 | CP ALL PCL (b) | 12,716 | ||
4,800 | Electricity Generating PCL | 20,997 | ||
11,400 | Global Power Synergy PCL, Class F | 19,267 |
Shares | Description | Value | ||
Thailand (Continued) | ||||
45,200 | Home Product Center PCL | $16,177 | ||
8,400 | Intouch Holdings PCL, Class F | 16,201 | ||
149,000 | IRPC PCL | 12,325 | ||
80,500 | Krung Thai Bank PCL | 35,640 | ||
82,400 | Land & Houses PCL | 19,442 | ||
15,000 | Osotspa PCL | 10,837 | ||
3,700 | PTT Exploration & Production PCL | 15,744 | ||
12,500 | PTT Global Chemical PCL | 13,753 | ||
21,200 | PTT Oil & Retail Business PCL (b) | 14,148 | ||
13,800 | PTT PCL (b) | 12,384 | ||
1,300 | Siam Cement (The) PCL | 11,235 | ||
32,000 | Thai Beverage PCL (b) | 13,322 | ||
11,100 | Tisco Financial Group PCL | 27,294 | ||
420,228 | ||||
Turkey – 0.8% | ||||
6,558 | Akbank T.A.S. (b) | 3,989 | ||
701 | Arcelik A.S. (b) | 2,533 | ||
3,148 | Aselsan Elektronik Sanayi Ve Ticaret A.S. (b) | 4,966 | ||
1,113 | BIM Birlesik Magazalar A.S. (b) | 6,934 | ||
3,381 | Eregli Demir ve Celik Fabrikalari T.A.S. (b) | 5,272 | ||
142 | Ford Otomotiv Sanayi A.S. (b) | 2,501 | ||
2,713 | Haci Omer Sabanci Holding A.S. (b) | 3,764 | ||
2,172 | KOC Holding A.S. (b) | 5,287 | ||
545 | Tofas Turk Otomobil Fabrikasi A.S. (b) | 2,689 | ||
1,315 | Turk Hava Yollari AO (b) (e) | 4,993 | ||
2,943 | Turkcell Iletisim Hizmetleri A.S. (b) | 3,127 | ||
11,983 | Turkiye Is Bankasi A.S., Class C (b) | 4,826 | ||
402 | Turkiye Petrol Rafinerileri A.S. (b) (e) | 6,256 | ||
4,996 | Turkiye Sise ve Cam Fabrikalari A.S. (b) | 6,808 | ||
63,945 | ||||
Total Common Stocks | 7,894,375 | |||
(Cost $9,223,672) | ||||
REAL ESTATE INVESTMENT TRUSTS (a) – 0.2% | ||||
Mexico – 0.1% | ||||
7,316 | Fibra Uno Administracion S.A. de C.V. | 7,527 |
Shares | Description | Value | ||
REAL ESTATE INVESTMENT TRUSTS (a) (Continued) | ||||
South Africa – 0.1% | ||||
6,519 | Growthpoint Properties Ltd. | $4,246 | ||
Total Real Estate Investment Trusts | 11,773 | |||
(Cost $15,680) | ||||
Total Investments – 99.8% | 7,906,148 | |||
(Cost $9,239,352) | ||||
Net Other Assets and Liabilities – 0.2% | 18,547 | |||
Net Assets – 100.0% | $7,924,695 |
(a) | Portfolio securities are categorized based upon their country of incorporation, which can be different from the country categorization of the Fund’s underlying index. For a breakdown of the portfolio securities by sector, please see the Fund Performance Overview. |
(b) | This security is fair valued by the Advisor’s Pricing Committee in accordance with procedures approved by the Trust’s Board of Trustees and in accordance with provisions of the Investment Company Act of 1940 and rules thereunder, as amended. At September 30, 2022, securities noted as such are valued at $6,319,895 or 79.7% of net assets. Certain of these securities are fair valued using a factor provided by a third-party pricing service due to the change in value between the foreign markets’ close and the New York Stock Exchange close exceeding a certain threshold. On days when this threshold is not exceeded, these securities are typically valued at the last sale price on the exchange on which they are principally traded. |
(c) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933, as amended (the “1933 Act”). |
(d) | This security is exempt from registration upon resale under Rule 144A of the 1933 Act and may be resold in transactions exempt from registration, normally to qualified institutional buyers. This security is not restricted on the foreign exchange where it trades freely without any additional registration. As such, it does not require the additional disclosure required of restricted securities. |
(e) | Non-income producing security. |
(f) | Pursuant to procedures adopted by the Trust’s Board of Trustees, this security has been determined to be illiquid by First Trust Advisors L.P., the Fund’s advisor. |
(g) | This security’s value was determined using significant unobservable inputs (see Note 2A – Portfolio Valuation in the Notes to Financial Statements). |
GDR | Global Depositary Receipt |
Currency Exposure Diversification | % of Total Investments |
Indian Rupee | 25.3% |
New Taiwan Dollar | 24.4 |
Hong Kong Dollar | 17.0 |
Brazilian Real | 10.2 |
Thai Baht | 5.2 |
Mexican Peso | 4.2 |
Indonesian Rupiah | 3.7 |
South African Rand | 3.0 |
Malaysian Ringgit | 1.8 |
Philippine Peso | 1.4 |
Chilean Peso | 1.0 |
Turkish Lira | 0.8 |
Polish Zloty | 0.8 |
Hungarian Forint | 0.3 |
United States Dollar | 0.3 |
Czech Republic Koruna | 0.2 |
Singapore Dollar | 0.2 |
Colombian Peso | 0.1 |
Egyptian Pound | 0.1 |
Russian Ruble | 0.0* |
Total | 100.0% |
* | Amount is less than 0.1%. |
Total Value at 9/30/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks: | ||||
Bermuda | $ 20,139 | $ 20,139 | $ — | $ — |
Brazil | 809,031 | 809,031 | — | — |
Chile | 78,495 | 14,427 | 64,068 | — |
Colombia | 11,074 | 11,074 | — | — |
Czech Republic | 18,409 | 13,707 | 4,702 | — |
Indonesia | 288,823 | 6,765 | 282,058 | — |
Mexico | 324,670 | 324,670 | — | — |
Netherlands | 4,418 | — | 4,404 | 14 |
Russia | 3,383 | — | — | 3,383 |
South Africa | 231,637 | 36,292 | 195,345 | — |
Other Country Categories* | 6,104,296 | — | 6,104,296 | — |
Real Estate Investment Trusts* | 11,773 | 11,773 | — | — |
Total Investments | $ 7,906,148 | $ 1,247,878 | $ 6,654,873 | $ 3,397 |
* | See Portfolio of Investments for country breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 96.9% | ||||
Aerospace & Defense – 1.3% | ||||
156 | General Dynamics Corp. | $33,098 | ||
263 | HEICO Corp. | 37,867 | ||
143 | L3Harris Technologies, Inc. | 29,720 | ||
80 | Lockheed Martin Corp. | 30,903 | ||
72 | Northrop Grumman Corp. | 33,863 | ||
359 | Raytheon Technologies Corp. | 29,388 | ||
565 | Textron, Inc. | 32,917 | ||
227,756 | ||||
Air Freight & Logistics – 0.5% | ||||
354 | Expeditors International of Washington, Inc. | 31,262 | ||
152 | FedEx Corp. | 22,567 | ||
189 | United Parcel Service, Inc., Class B | 30,531 | ||
84,360 | ||||
Automobiles – 0.4% | ||||
6,167 | Ford Motor Co. | 69,070 | ||
Banks – 2.7% | ||||
1,055 | Bank of America Corp. | 31,861 | ||
714 | Citigroup, Inc. | 29,752 | ||
920 | Citizens Financial Group, Inc. | 31,611 | ||
977 | Fifth Third Bancorp | 31,225 | ||
228 | First Republic Bank | 29,765 | ||
2,729 | Huntington Bancshares, Inc. | 35,968 | ||
292 | JPMorgan Chase & Co. | 30,514 | ||
1,905 | KeyCorp | 30,518 | ||
206 | M&T Bank Corp. | 36,322 | ||
208 | PNC Financial Services Group (The), Inc. | 31,079 | ||
1,750 | Regions Financial Corp. | 35,123 | ||
183 | Signature Bank | 27,633 | ||
692 | Truist Financial Corp. | 30,130 | ||
713 | US Bancorp | 28,748 | ||
839 | Wells Fargo & Co. | 33,745 | ||
473,994 | ||||
Beverages – 1.1% | ||||
548 | Brown-Forman Corp., Class B | 36,480 | ||
611 | Coca-Cola (The) Co. | 34,228 | ||
164 | Constellation Brands, Inc., Class A | 37,668 | ||
1,086 | Keurig Dr. Pepper, Inc. | 38,900 | ||
230 | PepsiCo, Inc. | 37,550 | ||
184,826 | ||||
Biotechnology – 1.3% | ||||
525 | AbbVie, Inc. | 70,460 | ||
331 | Amgen, Inc. | 74,608 | ||
1,299 | Gilead Sciences, Inc. | 80,135 | ||
225,203 |
Shares | Description | Value | ||
Building Products – 0.8% | ||||
968 | Carrier Global Corp. | $34,422 | ||
721 | Johnson Controls International PLC | 35,488 | ||
682 | Masco Corp. | 31,843 | ||
266 | Trane Technologies PLC | 38,519 | ||
140,272 | ||||
Capital Markets – 4.1% | ||||
138 | Ameriprise Financial, Inc. | 34,769 | ||
787 | Bank of New York Mellon (The) Corp. | 30,315 | ||
54 | BlackRock, Inc. | 29,715 | ||
360 | Blackstone, Inc. | 30,132 | ||
1,037 | Carlyle Group (The), Inc. | 26,796 | ||
520 | Charles Schwab (The) Corp. | 37,373 | ||
161 | CME Group, Inc. | 28,518 | ||
85 | FactSet Research Systems, Inc. | 34,009 | ||
1,409 | Franklin Resources, Inc. | 30,322 | ||
111 | Goldman Sachs Group (The), Inc. | 32,529 | ||
349 | Intercontinental Exchange, Inc. | 31,532 | ||
709 | KKR & Co., Inc. | 30,487 | ||
178 | LPL Financial Holdings, Inc. | 38,890 | ||
121 | Moody’s Corp. | 29,416 | ||
432 | Morgan Stanley | 34,132 | ||
80 | MSCI, Inc. | 33,743 | ||
645 | Nasdaq, Inc. | 36,559 | ||
340 | Northern Trust Corp. | 29,090 | ||
367 | Raymond James Financial, Inc. | 36,267 | ||
98 | S&P Global, Inc. | 29,924 | ||
532 | State Street Corp. | 32,351 | ||
289 | T Rowe Price Group, Inc. | 30,348 | ||
707,217 | ||||
Chemicals – 1.7% | ||||
62 | Air Products and Chemicals, Inc. | 14,429 | ||
72 | Albemarle Corp. | 19,040 | ||
127 | Celanese Corp. | 11,473 | ||
175 | CF Industries Holdings, Inc. | 16,844 | ||
709 | Corteva, Inc. | 40,519 | ||
290 | Dow, Inc. | 12,740 | ||
620 | DuPont de Nemours, Inc. | 31,248 | ||
166 | Eastman Chemical Co. | 11,794 | ||
98 | Ecolab, Inc. | 14,153 | ||
140 | FMC Corp. | 14,798 | ||
125 | International Flavors & Fragrances, Inc. | 11,354 | ||
171 | LyondellBasell Industries N.V., Class A | 12,873 | ||
317 | Mosaic (The) Co. | 15,321 | ||
302 | PPG Industries, Inc. | 33,428 | ||
154 | Sherwin-Williams (The) Co. | 31,532 | ||
291,546 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Commercial Services & Supplies – 0.9% | ||||
92 | Cintas Corp. | $35,714 | ||
169 | Republic Services, Inc. | 22,991 | ||
1,966 | Rollins, Inc. | 68,181 | ||
145 | Waste Management, Inc. | 23,230 | ||
150,116 | ||||
Communications Equipment – 1.3% | ||||
2,628 | Cisco Systems, Inc. | 105,120 | ||
535 | Motorola Solutions, Inc. | 119,824 | ||
224,944 | ||||
Construction & Engineering – 0.2% | ||||
275 | Quanta Services, Inc. | 35,032 | ||
Construction Materials – 0.4% | ||||
115 | Martin Marietta Materials, Inc. | 37,040 | ||
242 | Vulcan Materials Co. | 38,166 | ||
75,206 | ||||
Consumer Finance – 0.9% | ||||
980 | Ally Financial, Inc. | 27,273 | ||
249 | American Express Co. | 33,593 | ||
332 | Capital One Financial Corp. | 30,601 | ||
347 | Discover Financial Services | 31,549 | ||
1,249 | Synchrony Financial | 35,209 | ||
158,225 | ||||
Containers & Packaging – 0.6% | ||||
92 | Avery Dennison Corp. | 14,968 | ||
501 | Ball Corp. | 24,208 | ||
374 | Crown Holdings, Inc. | 30,305 | ||
358 | International Paper Co. | 11,349 | ||
251 | Packaging Corp. of America | 28,185 | ||
109,015 | ||||
Distributors – 1.2% | ||||
516 | Genuine Parts Co. | 77,049 | ||
1,398 | LKQ Corp. | 65,916 | ||
195 | Pool Corp. | 62,051 | ||
205,016 | ||||
Diversified Financial Services – 0.2% | ||||
677 | Apollo Global Management, Inc. | 31,481 | ||
Diversified Telecommunication Services – 1.0% | ||||
5,347 | AT&T, Inc. | 82,023 | ||
2,208 | Verizon Communications, Inc. | 83,838 | ||
165,861 |
Shares | Description | Value | ||
Electric Utilities – 1.5% | ||||
377 | Alliant Energy Corp. | $19,977 | ||
230 | American Electric Power Co., Inc. | 19,884 | ||
206 | Duke Energy Corp. | 19,162 | ||
350 | Edison International | 19,803 | ||
196 | Entergy Corp. | 19,723 | ||
339 | Evergy, Inc. | 20,137 | ||
262 | Eversource Energy | 20,426 | ||
488 | Exelon Corp. | 18,280 | ||
576 | FirstEnergy Corp. | 21,312 | ||
285 | NextEra Energy, Inc. | 22,347 | ||
815 | PPL Corp. | 20,660 | ||
310 | Southern (The) Co. | 21,080 | ||
313 | Xcel Energy, Inc. | 20,032 | ||
262,823 | ||||
Electrical Equipment – 0.8% | ||||
314 | AMETEK, Inc. | 35,611 | ||
274 | Eaton Corp. PLC | 36,541 | ||
434 | Emerson Electric Co. | 31,777 | ||
173 | Rockwell Automation, Inc. | 37,214 | ||
141,143 | ||||
Electronic Equipment, Instruments & Components – 3.2% | ||||
2,229 | Amphenol Corp., Class A | 149,254 | ||
911 | CDW Corp. | 142,189 | ||
4,553 | Corning, Inc. | 132,128 | ||
1,268 | TE Connectivity Ltd. | 139,936 | ||
563,507 | ||||
Energy Equipment & Services – 0.6% | ||||
1,365 | Baker Hughes Co. | 28,610 | ||
1,256 | Halliburton Co. | 30,923 | ||
1,102 | Schlumberger N.V. | 39,562 | ||
99,095 | ||||
Entertainment – 0.4% | ||||
565 | Electronic Arts, Inc. | 65,376 | ||
Food & Staples Retailing – 1.4% | ||||
143 | Costco Wholesale Corp. | 67,535 | ||
812 | Kroger (The) Co. | 35,525 | ||
453 | Sysco Corp. | 32,032 | ||
1,013 | Walgreens Boots Alliance, Inc. | 31,808 | ||
565 | Walmart, Inc. | 73,280 | ||
240,180 | ||||
Food Products – 2.5% | ||||
495 | Archer-Daniels-Midland Co. | 39,823 | ||
423 | Bunge Ltd. | 34,927 | ||
1,122 | Conagra Brands, Inc. | 36,611 | ||
509 | General Mills, Inc. | 38,994 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Food Products (Continued) | ||||
178 | Hershey (The) Co. | $39,243 | ||
811 | Hormel Foods Corp. | 36,852 | ||
300 | J.M. Smucker (The) Co. | 41,223 | ||
539 | Kellogg Co. | 37,547 | ||
1,008 | Kraft Heinz (The) Co. | 33,617 | ||
462 | McCormick & Co., Inc. | 32,927 | ||
618 | Mondelez International, Inc., Class A | 33,885 | ||
447 | Tyson Foods, Inc., Class A | 29,471 | ||
435,120 | ||||
Gas Utilities – 0.1% | ||||
197 | Atmos Energy Corp. | 20,064 | ||
Health Care Equipment & Supplies – 4.2% | ||||
739 | Abbott Laboratories | 71,506 | ||
1,251 | Baxter International, Inc. | 67,379 | ||
326 | Becton Dickinson and Co. | 72,643 | ||
256 | Cooper (The) Cos., Inc. | 67,558 | ||
895 | Medtronic PLC | 72,271 | ||
384 | ResMed, Inc. | 83,827 | ||
390 | STERIS PLC | 64,849 | ||
404 | Stryker Corp. | 81,826 | ||
327 | Teleflex, Inc. | 65,878 | ||
764 | Zimmer Biomet Holdings, Inc. | 79,876 | ||
727,613 | ||||
Health Care Providers & Services – 4.4% | ||||
271 | AmerisourceBergen Corp. | 36,674 | ||
1,537 | Cardinal Health, Inc. | 102,487 | ||
305 | Cigna Corp. | 84,628 | ||
414 | CVS Health Corp. | 39,483 | ||
166 | Elevance Health, Inc. | 75,404 | ||
478 | HCA Healthcare, Inc. | 87,852 | ||
172 | Humana, Inc. | 83,453 | ||
343 | Laboratory Corp of America Holdings | 70,250 | ||
118 | McKesson Corp. | 40,105 | ||
604 | Quest Diagnostics, Inc. | 74,105 | ||
156 | UnitedHealth Group, Inc. | 78,786 | ||
773,227 | ||||
Hotels, Restaurants & Leisure – 3.2% | ||||
606 | Darden Restaurants, Inc. | 76,550 | ||
176 | Domino’s Pizza, Inc. | 54,595 | ||
616 | Hilton Worldwide Holdings, Inc. | 74,302 | ||
504 | Marriott International, Inc., Class A | 70,630 | ||
278 | McDonald’s Corp. | 64,146 | ||
2,371 | MGM Resorts International | 70,466 | ||
899 | Starbucks Corp. | 75,750 |
Shares | Description | Value | ||
Hotels, Restaurants & Leisure (Continued) | ||||
605 | Yum! Brands, Inc. | $64,336 | ||
550,775 | ||||
Household Durables – 1.1% | ||||
1,037 | DR Horton, Inc. | 69,842 | ||
698 | Garmin Ltd. | 56,056 | ||
972 | Lennar Corp., Class A | 72,463 | ||
198,361 | ||||
Household Products – 0.9% | ||||
414 | Church & Dwight Co., Inc. | 29,576 | ||
272 | Clorox (The) Co. | 34,922 | ||
479 | Colgate-Palmolive Co. | 33,650 | ||
284 | Kimberly-Clark Corp. | 31,961 | ||
267 | Procter & Gamble (The) Co. | 33,709 | ||
163,818 | ||||
Independent Power & Renewable Electricity Producers – 0.1% | ||||
1,052 | AES (The) Corp. | 23,775 | ||
Industrial Conglomerates – 0.6% | ||||
267 | 3M Co. | 29,504 | ||
542 | General Electric Co. | 33,555 | ||
199 | Honeywell International, Inc. | 33,227 | ||
96,286 | ||||
Insurance – 3.2% | ||||
593 | Aflac, Inc. | 33,327 | ||
259 | Allstate (The) Corp. | 32,253 | ||
642 | American International Group, Inc. | 30,482 | ||
122 | Aon PLC, Class A | 32,680 | ||
202 | Arthur J. Gallagher & Co. | 34,586 | ||
563 | Brown & Brown, Inc. | 34,050 | ||
167 | Chubb Ltd. | 30,374 | ||
276 | Cincinnati Financial Corp. | 24,721 | ||
889 | Fidelity National Financial, Inc. | 32,182 | ||
501 | Hartford Financial Services Group (The), Inc. | 31,032 | ||
554 | Loews Corp. | 27,611 | ||
212 | Marsh & McLennan Cos., Inc. | 31,650 | ||
523 | MetLife, Inc. | 31,788 | ||
491 | Principal Financial Group, Inc. | 35,426 | ||
282 | Progressive (The) Corp. | 32,771 | ||
343 | Prudential Financial, Inc. | 29,423 | ||
194 | Travelers (The) Cos., Inc. | 29,721 | ||
481 | W.R. Berkley Corp. | 31,063 | ||
565,140 | ||||
Internet & Direct Marketing Retail – 0.4% | ||||
1,647 | eBay, Inc. | 60,626 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
IT Services – 3.6% | ||||
124 | Accenture PLC, Class A | $31,905 | ||
164 | Automatic Data Processing, Inc. | 37,095 | ||
230 | Broadridge Financial Solutions, Inc. | 33,194 | ||
2,126 | Cognizant Technology Solutions Corp., Class A | 122,117 | ||
376 | Fidelity National Information Services, Inc. | 28,414 | ||
312 | Global Payments, Inc. | 33,712 | ||
1,016 | International Business Machines Corp. | 120,711 | ||
110 | Mastercard, Inc., Class A | 31,277 | ||
303 | Paychex, Inc. | 34,000 | ||
2,470 | SS&C Technologies Holdings, Inc. | 117,943 | ||
176 | Visa, Inc., Class A | 31,266 | ||
621,634 | ||||
Life Sciences Tools & Services – 2.5% | ||||
676 | Agilent Technologies, Inc. | 82,168 | ||
232 | Bio-Techne Corp. | 65,888 | ||
317 | Danaher Corp. | 81,878 | ||
565 | PerkinElmer, Inc. | 67,987 | ||
148 | Thermo Fisher Scientific, Inc. | 75,064 | ||
266 | West Pharmaceutical Services, Inc. | 65,457 | ||
438,442 | ||||
Machinery – 2.8% | ||||
193 | Caterpillar, Inc. | 31,668 | ||
178 | Cummins, Inc. | 36,225 | ||
115 | Deere & Co. | 38,397 | ||
284 | Dover Corp. | 33,109 | ||
634 | Fortive Corp. | 36,962 | ||
190 | IDEX Corp. | 37,972 | ||
189 | Illinois Tool Works, Inc. | 34,143 | ||
820 | Ingersoll Rand, Inc. | 35,473 | ||
488 | Otis Worldwide Corp. | 31,134 | ||
419 | PACCAR, Inc. | 35,066 | ||
140 | Parker-Hannifin Corp. | 33,923 | ||
329 | Stanley Black & Decker, Inc. | 24,744 | ||
421 | Westinghouse Air Brake Technologies Corp. | 34,248 | ||
441 | Xylem, Inc. | 38,526 | ||
481,590 | ||||
Media – 2.3% | ||||
2,855 | Comcast Corp., Class A | 83,737 | ||
2,134 | Fox Corp., Class A | 65,471 | ||
2,493 | Interpublic Group of (The) Cos., Inc. | 63,821 | ||
1,079 | Omnicom Group, Inc. | 68,074 | ||
2,781 | Paramount Global, Class B | 52,950 |
Shares | Description | Value | ||
Media (Continued) | ||||
11,197 | Sirius XM Holdings, Inc. | $63,935 | ||
397,988 | ||||
Metals & Mining – 0.2% | ||||
511 | Freeport-McMoRan, Inc. | 13,966 | ||
251 | Newmont Corp. | 10,549 | ||
143 | Nucor Corp. | 15,300 | ||
39,815 | ||||
Multiline Retail – 0.8% | ||||
280 | Dollar General Corp. | 67,161 | ||
486 | Target Corp. | 72,117 | ||
139,278 | ||||
Multi-Utilities – 1.0% | ||||
245 | Ameren Corp. | 19,735 | ||
748 | CenterPoint Energy, Inc. | 21,079 | ||
328 | CMS Energy Corp. | 19,103 | ||
232 | Consolidated Edison, Inc. | 19,896 | ||
277 | Dominion Energy, Inc. | 19,143 | ||
175 | DTE Energy Co. | 20,134 | ||
349 | Public Service Enterprise Group, Inc. | 19,624 | ||
147 | Sempra Energy | 22,041 | ||
220 | WEC Energy Group, Inc. | 19,675 | ||
180,430 | ||||
Oil, Gas & Consumable Fuels – 4.2% | ||||
296 | Cheniere Energy, Inc. | 49,110 | ||
272 | Chevron Corp. | 39,078 | ||
439 | ConocoPhillips | 44,927 | ||
1,528 | Coterra Energy, Inc. | 39,911 | ||
715 | Devon Energy Corp. | 42,993 | ||
331 | Diamondback Energy, Inc. | 39,872 | ||
358 | EOG Resources, Inc. | 39,999 | ||
461 | Exxon Mobil Corp. | 40,250 | ||
372 | Hess Corp. | 40,544 | ||
2,351 | Kinder Morgan, Inc. | 39,121 | ||
1,753 | Marathon Oil Corp. | 39,583 | ||
479 | Marathon Petroleum Corp. | 47,579 | ||
670 | Occidental Petroleum Corp. | 41,172 | ||
710 | ONEOK, Inc. | 36,381 | ||
481 | Phillips 66 | 38,826 | ||
176 | Pioneer Natural Resources Co. | 38,109 | ||
371 | Valero Energy Corp. | 39,641 | ||
1,263 | Williams (The) Cos., Inc. | 36,160 | ||
733,256 | ||||
Personal Products – 0.3% | ||||
269 | Estee Lauder (The) Cos., Inc., Class A | 58,077 | ||
Pharmaceuticals – 2.9% | ||||
1,043 | Bristol-Myers Squibb Co. | 74,147 | ||
248 | Eli Lilly & Co. | 80,191 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Pharmaceuticals (Continued) | ||||
452 | Johnson & Johnson | $73,839 | ||
881 | Merck & Co., Inc. | 75,872 | ||
1,532 | Pfizer, Inc. | 67,040 | ||
7,671 | Viatris, Inc. | 65,357 | ||
467 | Zoetis, Inc. | 69,251 | ||
505,697 | ||||
Professional Services – 0.7% | ||||
189 | Equifax, Inc. | 32,400 | ||
271 | Jacobs Solutions, Inc. | 29,401 | ||
431 | TransUnion | 25,640 | ||
200 | Verisk Analytics, Inc. | 34,106 | ||
121,547 | ||||
Road & Rail – 0.9% | ||||
1,187 | CSX Corp. | 31,622 | ||
219 | JB Hunt Transport Services, Inc. | 34,256 | ||
151 | Norfolk Southern Corp. | 31,657 | ||
135 | Old Dominion Freight Line, Inc. | 33,584 | ||
162 | Union Pacific Corp. | 31,561 | ||
162,680 | ||||
Semiconductors & Semiconductor Equipment – 12.8% | ||||
982 | Analog Devices, Inc. | 136,832 | ||
1,577 | Applied Materials, Inc. | 129,204 | ||
295 | Broadcom, Inc. | 130,983 | ||
1,557 | Entegris, Inc. | 129,262 | ||
3,835 | Intel Corp. | 98,828 | ||
449 | KLA Corp. | 135,881 | ||
337 | Lam Research Corp. | 123,342 | ||
3,296 | Marvell Technology, Inc. | 141,431 | ||
2,470 | Microchip Technology, Inc. | 150,744 | ||
2,595 | Micron Technology, Inc. | 130,009 | ||
373 | Monolithic Power Systems, Inc. | 135,548 | ||
946 | NVIDIA Corp. | 114,835 | ||
969 | NXP Semiconductors N.V. | 142,937 | ||
1,123 | QUALCOMM, Inc. | 126,877 | ||
1,549 | Skyworks Solutions, Inc. | 132,083 | ||
1,602 | Teradyne, Inc. | 120,390 | ||
933 | Texas Instruments, Inc. | 144,410 | ||
2,223,596 | ||||
Software – 3.8% | ||||
372 | Intuit, Inc. | 144,083 | ||
559 | Microsoft Corp. | 130,191 | ||
6,533 | NortonLifeLock, Inc. | 131,575 | ||
2,053 | Oracle Corp. | 125,377 | ||
363 | Roper Technologies, Inc. | 130,549 | ||
661,775 | ||||
Specialty Retail – 3.3% | ||||
397 | Advance Auto Parts, Inc. | 62,067 | ||
2,550 | Bath & Body Works, Inc. | 83,130 |
Shares | Description | Value | ||
Specialty Retail (Continued) | ||||
1,053 | Best Buy Co., Inc. | $66,697 | ||
251 | Home Depot (The), Inc. | 69,261 | ||
393 | Lowe’s Cos., Inc. | 73,809 | ||
978 | Ross Stores, Inc. | 82,416 | ||
1,229 | TJX (The) Cos., Inc. | 76,345 | ||
354 | Tractor Supply Co. | 65,802 | ||
579,527 | ||||
Technology Hardware, Storage & Peripherals – 4.2% | ||||
1,049 | Apple, Inc. | 144,972 | ||
3,104 | Dell Technologies, Inc., Class C | 106,064 | ||
10,819 | Hewlett Packard Enterprise Co. | 129,611 | ||
4,376 | HP, Inc. | 109,050 | ||
2,199 | NetApp, Inc. | 136,008 | ||
2,009 | Seagate Technology Holdings PLC | 106,939 | ||
732,644 | ||||
Textiles, Apparel & Luxury Goods – 0.6% | ||||
671 | NIKE, Inc., Class B | 55,774 | ||
1,554 | VF Corp. | 46,480 | ||
102,254 | ||||
Tobacco – 0.4% | ||||
919 | Altria Group, Inc. | 37,109 | ||
389 | Philip Morris International, Inc. | 32,291 | ||
69,400 | ||||
Trading Companies & Distributors – 0.3% | ||||
300 | Fastenal Co. | 13,812 | ||
76 | WW Grainger, Inc. | 37,178 | ||
50,990 | ||||
Water Utilities – 0.1% | ||||
149 | American Water Works Co., Inc. | 19,394 | ||
Total Common Stocks | 16,866,083 | |||
(Cost $19,113,251) | ||||
REAL ESTATE INVESTMENT TRUSTS – 2.9% | ||||
Equity Real Estate Investment Trusts – 2.9% | ||||
138 | Alexandria Real Estate Equities, Inc. | 19,346 | ||
78 | American Tower Corp. | 16,747 | ||
103 | AvalonBay Communities, Inc. | 18,972 | ||
225 | Boston Properties, Inc. | 16,868 | ||
149 | Camden Property Trust | 17,798 | ||
119 | Crown Castle, Inc. | 17,201 | ||
154 | Digital Realty Trust, Inc. | 15,274 | ||
31 | Equinix, Inc. | 17,634 | ||
284 | Equity LifeStyle Properties, Inc. | 17,847 | ||
278 | Equity Residential | 18,687 | ||
76 | Essex Property Trust, Inc. | 18,409 |
Shares | Description | Value | ||
REAL ESTATE INVESTMENT TRUSTS (Continued) | ||||
Equity Real Estate Investment Trusts (Continued) | ||||
118 | Extra Space Storage, Inc. | $20,380 | ||
773 | Healthpeak Properties, Inc. | 17,717 | ||
563 | Invitation Homes, Inc. | 19,013 | ||
1,013 | Kimco Realty Corp. | 18,649 | ||
114 | Mid-America Apartment Communities, Inc. | 17,678 | ||
170 | Prologis, Inc. | 17,272 | ||
67 | Public Storage | 19,618 | ||
293 | Realty Income Corp. | 17,053 | ||
62 | SBA Communications Corp. | 17,648 | ||
211 | Simon Property Group, Inc. | 18,937 | ||
125 | Sun Communities, Inc. | 16,916 | ||
435 | UDR, Inc. | 18,144 | ||
389 | Ventas, Inc. | 15,626 | ||
672 | VICI Properties, Inc. | 20,059 | ||
243 | Welltower, Inc. | 15,630 | ||
605 | Weyerhaeuser Co. | 17,279 | ||
241 | WP Carey, Inc. | 16,822 | ||
Total Real Estate Investment Trusts | 499,224 | |||
(Cost $551,744) | ||||
Total Investments – 99.8% | 17,365,307 | |||
(Cost $19,664,995) | ||||
Net Other Assets and Liabilities – 0.2% | 34,927 | |||
Net Assets – 100.0% | $17,400,234 |
Total Value at 9/30/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 16,866,083 | $ 16,866,083 | $ — | $ — |
Real Estate Investment Trusts* | 499,224 | 499,224 | — | — |
Total Investments | $ 17,365,307 | $ 17,365,307 | $— | $— |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 91.2% | ||||
Aerospace & Defense – 1.8% | ||||
794 | BWX Technologies, Inc. | $39,994 | ||
331 | Curtiss-Wright Corp. | 46,062 | ||
674 | Hexcel Corp. | 34,859 | ||
1,390 | Howmet Aerospace, Inc. | 42,993 | ||
201 | Huntington Ingalls Industries, Inc. | 44,521 | ||
1,492 | Spirit AeroSystems Holdings, Inc., Class A | 32,705 | ||
473 | Woodward, Inc. | 37,963 | ||
279,097 | ||||
Air Freight & Logistics – 0.3% | ||||
431 | CH Robinson Worldwide, Inc. | 41,510 | ||
Auto Components – 0.9% | ||||
1,464 | BorgWarner, Inc. | 45,969 | ||
1,746 | Gentex Corp. | 41,625 | ||
388 | Lear Corp. | 46,440 | ||
134,034 | ||||
Automobiles – 0.6% | ||||
1,543 | Harley-Davidson, Inc. | 53,820 | ||
654 | Thor Industries, Inc. | 45,767 | ||
99,587 | ||||
Banks – 6.4% | ||||
860 | Bank OZK | 34,022 | ||
427 | BOK Financial Corp. | 37,943 | ||
1,375 | Cadence Bank | 34,939 | ||
440 | Comerica, Inc. | 31,284 | ||
492 | Commerce Bancshares, Inc. | 32,551 | ||
510 | Community Bank System, Inc. | 30,641 | ||
277 | Cullen/Frost Bankers, Inc. | 36,625 | ||
498 | East West Bancorp, Inc. | 33,436 | ||
1,749 | Eastern Bankshares, Inc. | 34,350 | ||
49 | First Citizens BancShares, Inc., Class A | 39,074 | ||
822 | First Financial Bankshares, Inc. | 34,384 | ||
2,973 | FNB Corp. | 34,487 | ||
681 | Glacier Bancorp, Inc. | 33,457 | ||
728 | Hancock Whitney Corp. | 33,350 | ||
1,554 | Home BancShares, Inc. | 34,980 | ||
406 | Independent Bank Corp. | 30,259 | ||
1,211 | PacWest Bancorp | 27,369 | ||
446 | Pinnacle Financial Partners, Inc. | 36,170 | ||
420 | Popular, Inc. | 30,265 | ||
473 | Prosperity Bancshares, Inc. | 31,540 | ||
409 | ServisFirst Bancshares, Inc. | 32,720 | ||
418 | SouthState Corp. | 33,072 | ||
896 | Synovus Financial Corp. | 33,609 | ||
375 | UMB Financial Corp. | 31,609 | ||
921 | United Bankshares, Inc. | 32,926 | ||
3,101 | Valley National Bancorp | 33,491 | ||
766 | Webster Financial Corp. | 34,623 | ||
457 | Western Alliance Bancorp | 30,043 |
Shares | Description | Value | ||
Banks (Continued) | ||||
403 | Wintrust Financial Corp. | $32,865 | ||
634 | Zions Bancorp N.A. | 32,245 | ||
998,329 | ||||
Beverages – 0.5% | ||||
88 | Coca-Cola Consolidated, Inc. | 36,232 | ||
912 | Molson Coors Beverage Co., Class B | 43,767 | ||
79,999 | ||||
Building Products – 2.8% | ||||
800 | A.O. Smith Corp. | 38,864 | ||
485 | Advanced Drainage Systems, Inc. | 60,319 | ||
447 | Allegion PLC | 40,087 | ||
583 | Armstrong World Industries, Inc. | 46,191 | ||
183 | Carlisle Cos., Inc. | 51,315 | ||
730 | Fortune Brands Home & Security, Inc. | 39,194 | ||
212 | Lennox International, Inc. | 47,206 | ||
588 | Owens Corning | 46,223 | ||
435 | Simpson Manufacturing Co., Inc. | 34,104 | ||
517 | UFP Industries, Inc. | 37,307 | ||
440,810 | ||||
Capital Markets – 3.0% | ||||
277 | Affiliated Managers Group, Inc. | 30,982 | ||
568 | Ares Management Corp., Class A | 35,188 | ||
285 | Cboe Global Markets, Inc. | 33,450 | ||
508 | Cohen & Steers, Inc. | 31,816 | ||
345 | Evercore, Inc., Class A | 28,376 | ||
409 | Houlihan Lokey, Inc. | 30,830 | ||
587 | Interactive Brokers Group, Inc., Class A | 37,515 | ||
2,002 | Invesco, Ltd. | 27,427 | ||
1,169 | Jefferies Financial Group, Inc. | 34,486 | ||
996 | Lazard Ltd., Class A | 31,703 | ||
126 | MarketAxess Holdings, Inc. | 28,034 | ||
133 | Morningstar, Inc. | 28,239 | ||
598 | SEI Investments Co. | 29,332 | ||
576 | Stifel Financial Corp. | 29,900 | ||
473 | Tradeweb Markets, Inc., Class A | 26,687 | ||
463,965 | ||||
Chemicals – 2.5% | ||||
342 | Ashland Global Holdings, Inc. | 32,480 | ||
879 | Avient Corp. | 26,634 | ||
272 | Balchem Corp. | 33,070 | ||
1,101 | Chemours (The) Co. | 27,140 | ||
1,980 | Element Solutions, Inc. | 32,215 | ||
726 | HB Fuller Co. | 43,632 | ||
1,243 | Huntsman Corp. | 30,503 | ||
761 | Olin Corp. | 32,632 | ||
555 | RPM International, Inc. | 46,237 | ||
446 | Scotts Miracle-Gro (The) Co. | 19,066 | ||
1,222 | Valvoline, Inc. | 30,965 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Chemicals (Continued) | ||||
360 | Westlake Corp. | $31,277 | ||
385,851 | ||||
Commercial Services & Supplies – 0.5% | ||||
361 | MSA Safety, Inc. | 39,450 | ||
320 | Tetra Tech, Inc. | 41,130 | ||
80,580 | ||||
Communications Equipment – 0.6% | ||||
3,635 | Juniper Networks, Inc. | 94,946 | ||
Construction & Engineering – 1.2% | ||||
670 | AECOM | 45,808 | ||
425 | EMCOR Group, Inc. | 49,079 | ||
1,620 | MDU Resources Group, Inc. | 44,307 | ||
195 | Valmont Industries, Inc. | 52,381 | ||
191,575 | ||||
Construction Materials – 0.3% | ||||
398 | Eagle Materials, Inc. | 42,658 | ||
Consumer Finance – 0.3% | ||||
864 | OneMain Holdings, Inc. | 25,505 | ||
2,025 | SLM Corp. | 28,330 | ||
53,835 | ||||
Containers & Packaging – 1.5% | ||||
424 | AptarGroup, Inc. | 40,293 | ||
2,133 | Graphic Packaging Holding Co. | 42,105 | ||
758 | Sealed Air Corp. | 33,739 | ||
1,057 | Silgan Holdings, Inc. | 44,436 | ||
767 | Sonoco Products Co. | 43,512 | ||
1,098 | WestRock Co. | 33,917 | ||
238,002 | ||||
Diversified Consumer Services – 1.0% | ||||
7,110 | ADT, Inc. | 53,254 | ||
1,383 | H&R Block, Inc. | 58,833 | ||
707 | Service Corp. International | 40,822 | ||
152,909 | ||||
Diversified Financial Services – 0.4% | ||||
1,238 | Equitable Holdings, Inc. | 32,621 | ||
542 | Voya Financial, Inc. | 32,791 | ||
65,412 | ||||
Diversified Telecommunication Services – 0.4% | ||||
9,495 | Lumen Technologies, Inc. | 69,124 |
Shares | Description | Value | ||
Electric Utilities – 1.4% | ||||
991 | Hawaiian Electric Industries, Inc. | $34,348 | ||
383 | IDACORP, Inc. | 37,921 | ||
1,062 | NRG Energy, Inc. | 40,643 | ||
1,051 | OGE Energy Corp. | 38,319 | ||
554 | Pinnacle West Capital Corp. | 35,739 | ||
839 | Portland General Electric Co. | 36,463 | ||
223,433 | ||||
Electrical Equipment – 1.9% | ||||
284 | Acuity Brands, Inc. | 44,721 | ||
245 | Hubbell, Inc. | 54,635 | ||
385 | Regal Rexnord Corp. | 54,039 | ||
14,592 | Vertiv Holdings Co. | 141,834 | ||
295,229 | ||||
Electronic Equipment, Instruments & Components – 3.8% | ||||
2,797 | Avnet, Inc. | 101,028 | ||
1,028 | Cognex Corp. | 42,611 | ||
2,342 | Jabil, Inc. | 135,157 | ||
172 | Littelfuse, Inc. | 34,175 | ||
3,841 | National Instruments Corp. | 144,959 | ||
1,317 | TD SYNNEX Corp. | 106,927 | ||
1,902 | Vontier Corp. | 31,782 | ||
596,639 | ||||
Energy Equipment & Services – 0.6% | ||||
2,437 | ChampionX Corp. | 47,692 | ||
2,861 | NOV, Inc. | 46,291 | ||
93,983 | ||||
Entertainment – 0.3% | ||||
2,005 | Warner Music Group Corp., Class A | 46,536 | ||
Food & Staples Retailing – 0.6% | ||||
1,860 | Albertsons Cos., Inc., Class A | 46,239 | ||
269 | Casey’s General Stores, Inc. | 54,478 | ||
100,717 | ||||
Food Products – 1.9% | ||||
1,034 | Campbell Soup Co. | 48,722 | ||
1,888 | Flowers Foods, Inc. | 46,615 | ||
564 | Ingredion, Inc. | 45,413 | ||
696 | Lamb Weston Holdings, Inc. | 53,856 | ||
386 | Lancaster Colony Corp. | 58,008 | ||
13 | Seaboard Corp. | 44,235 | ||
296,849 | ||||
Gas Utilities – 1.1% | ||||
614 | National Fuel Gas Co. | 37,792 | ||
910 | New Jersey Resources Corp. | 35,217 | ||
499 | ONE Gas, Inc. | 35,125 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Gas Utilities (Continued) | ||||
466 | Southwest Gas Holdings, Inc. | $32,503 | ||
1,050 | UGI Corp. | 33,946 | ||
174,583 | ||||
Health Care Equipment & Supplies – 2.0% | ||||
1,963 | CONMED Corp. | 157,374 | ||
5,262 | DENTSPLY SIRONA, Inc. | 149,177 | ||
306,551 | ||||
Health Care Providers & Services – 5.6% | ||||
401 | Chemed Corp. | 175,061 | ||
3,354 | Encompass Health Corp. | 151,701 | ||
2,559 | Ensign Group (The), Inc. | 203,440 | ||
5,269 | Premier, Inc., Class A | 178,830 | ||
1,867 | Universal Health Services, Inc., Class B | 164,632 | ||
873,664 | ||||
Hotels, Restaurants & Leisure – 3.9% | ||||
1,594 | Aramark | 49,733 | ||
982 | Boyd Gaming Corp. | 46,792 | ||
437 | Choice Hotels International, Inc. | 47,860 | ||
255 | Churchill Downs, Inc. | 46,958 | ||
420 | Marriott Vacations Worldwide Corp. | 51,181 | ||
585 | Papa John’s International, Inc. | 40,956 | ||
667 | Texas Roadhouse, Inc. | 58,203 | ||
1,258 | Travel + Leisure Co. | 42,923 | ||
224 | Vail Resorts, Inc. | 48,304 | ||
2,587 | Wendy’s (The) Co. | 48,351 | ||
653 | Wingstop, Inc. | 81,899 | ||
743 | Wyndham Hotels & Resorts, Inc. | 45,583 | ||
608,743 | ||||
Household Durables – 1.7% | ||||
1,412 | Leggett & Platt, Inc. | 46,907 | ||
2,565 | Newell Brands, Inc. | 35,628 | ||
1,232 | PulteGroup, Inc. | 46,200 | ||
2,285 | Tempur Sealy International, Inc. | 55,160 | ||
1,095 | Toll Brothers, Inc. | 45,990 | ||
315 | Whirlpool Corp. | 42,465 | ||
272,350 | ||||
Household Products – 0.3% | ||||
1,823 | Reynolds Consumer Products, Inc. | 47,416 | ||
Independent Power & Renewable Electricity Producers – 0.8% | ||||
1,164 | Clearway Energy, Inc., Class C | 37,073 | ||
517 | Ormat Technologies, Inc. | 44,566 |
Shares | Description | Value | ||
Independent Power & Renewable Electricity Producers (Continued) | ||||
1,774 | Vistra Corp. | $37,254 | ||
118,893 | ||||
Insurance – 3.8% | ||||
883 | American Equity Investment Life Holding Co. | 32,927 | ||
233 | American Financial Group, Inc. | 28,643 | ||
187 | Assurant, Inc. | 27,165 | ||
565 | Axis Capital Holdings Ltd. | 27,770 | ||
168 | Erie Indemnity Co., Class A | 37,348 | ||
115 | Everest Re Group Ltd. | 30,181 | ||
610 | First American Financial Corp. | 28,121 | ||
331 | Globe Life, Inc. | 33,001 | ||
221 | Hanover Insurance Group (The), Inc. | 28,319 | ||
674 | Kemper Corp. | 27,809 | ||
141 | Kinsale Capital Group, Inc. | 36,014 | ||
690 | Lincoln National Corp. | 30,298 | ||
1,444 | Old Republic International Corp. | 30,223 | ||
270 | Primerica, Inc. | 33,332 | ||
275 | Reinsurance Group of America, Inc. | 34,598 | ||
206 | RenaissanceRe Holdings Ltd. | 28,920 | ||
277 | RLI Corp. | 28,359 | ||
371 | Selective Insurance Group, Inc. | 30,199 | ||
949 | Unum Group | 36,821 | ||
590,048 | ||||
IT Services – 1.7% | ||||
884 | Concentrix Corp. | 98,681 | ||
1,032 | Genpact Ltd. | 45,171 | ||
243 | Jack Henry & Associates, Inc. | 44,292 | ||
700 | Maximus, Inc. | 40,509 | ||
2,655 | Western Union (The) Co. | 35,842 | ||
264,495 | ||||
Leisure Products – 0.8% | ||||
669 | Brunswick Corp. | 43,786 | ||
596 | Hasbro, Inc. | 40,182 | ||
492 | Polaris, Inc. | 47,060 | ||
131,028 | ||||
Life Sciences Tools & Services – 1.5% | ||||
1,664 | Azenta, Inc. | 71,319 | ||
2,996 | Bruker Corp. | 158,968 | ||
230,287 | ||||
Machinery – 4.6% | ||||
443 | AGCO Corp. | 42,603 | ||
1,137 | Allison Transmission Holdings, Inc. | 38,385 | ||
499 | Crane Holdings Co. | 43,682 | ||
908 | Donaldson Co., Inc. | 44,501 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Machinery (Continued) | ||||
999 | Esab Corp. | $33,327 | ||
1,527 | Flowserve Corp. | 37,106 | ||
597 | Franklin Electric Co., Inc. | 48,781 | ||
736 | Graco, Inc. | 44,123 | ||
650 | ITT, Inc. | 42,471 | ||
396 | John Bean Technologies Corp. | 34,056 | ||
354 | Lincoln Electric Holdings, Inc. | 44,505 | ||
216 | Nordson Corp. | 45,850 | ||
532 | Oshkosh Corp. | 37,394 | ||
222 | Snap-on, Inc. | 44,700 | ||
664 | Timken (The) Co. | 39,203 | ||
577 | Toro (The) Co. | 49,899 | ||
356 | Watts Water Technologies, Inc., Class A | 44,760 | ||
715,346 | ||||
Marine – 0.2% | ||||
600 | Matson, Inc. | 36,912 | ||
Media – 1.4% | ||||
80 | Cable One, Inc. | 68,244 | ||
1,750 | New York Times (The) Co., Class A | 50,312 | ||
3,135 | News Corp., Class A | 47,370 | ||
300 | Nexstar Media Group, Inc. | 50,055 | ||
215,981 | ||||
Metals & Mining – 1.3% | ||||
773 | Alcoa Corp. | 26,019 | ||
1,065 | Commercial Metals Co. | 37,786 | ||
207 | Reliance Steel & Aluminum Co. | 36,103 | ||
330 | Royal Gold, Inc. | 30,961 | ||
533 | Steel Dynamics, Inc. | 37,816 | ||
1,968 | United States Steel Corp. | 35,660 | ||
204,345 | ||||
Multiline Retail – 0.9% | ||||
221 | Dillard’s, Inc., Class A | 60,280 | ||
1,368 | Kohl’s Corp. | 34,405 | ||
2,666 | Macy’s, Inc. | 41,776 | ||
136,461 | ||||
Multi-Utilities – 0.5% | ||||
557 | Black Hills Corp. | 37,726 | ||
1,375 | NiSource, Inc. | 34,636 | ||
72,362 | ||||
Oil, Gas & Consumable Fuels – 5.3% | ||||
5,346 | Antero Midstream Corp. | 49,076 | ||
1,386 | APA Corp. | 47,387 | ||
597 | Chesapeake Energy Corp. | 56,243 | ||
925 | Civitas Resources, Inc. | 53,086 | ||
987 | DT Midstream, Inc. | 51,215 | ||
845 | Enviva Inc. | 50,751 |
Shares | Description | Value | ||
Oil, Gas & Consumable Fuels (Continued) | ||||
1,406 | EQT Corp. | $57,295 | ||
1,071 | HF Sinclair Corp. | 57,663 | ||
2,305 | Magnolia Oil & Gas Corp., Class A | 45,662 | ||
1,038 | Matador Resources, Co. | 50,779 | ||
1,602 | Murphy Oil Corp. | 56,342 | ||
1,095 | Ovintiv, Inc. | 50,370 | ||
785 | PDC Energy, Inc. | 45,365 | ||
1,415 | SM Energy Co. | 53,218 | ||
811 | Targa Resources Corp. | 48,936 | ||
33 | Texas Pacific Land Corp. | 58,649 | ||
832,037 | ||||
Paper & Forest Products – 0.3% | ||||
834 | Louisiana-Pacific Corp. | 42,692 | ||
Pharmaceuticals – 1.9% | ||||
5,571 | Organon & Co. | 130,361 | ||
4,634 | Perrigo Co. PLC | 165,249 | ||
295,610 | ||||
Professional Services – 3.4% | ||||
484 | Booz Allen Hamilton Holding Corp. | 44,697 | ||
478 | Exponent, Inc. | 41,906 | ||
438 | Insperity, Inc. | 44,716 | ||
2,479 | KBR, Inc. | 107,142 | ||
1,191 | Leidos Holdings, Inc. | 104,177 | ||
572 | ManpowerGroup, Inc. | 37,003 | ||
584 | Robert Half International, Inc. | 44,676 | ||
1,288 | Science Applications International Corp. | 113,898 | ||
538,215 | ||||
Real Estate Management & Development – 0.2% | ||||
3,162 | eXp World Holdings, Inc. | 35,446 | ||
Road & Rail – 0.9% | ||||
945 | Knight-Swift Transportation Holdings, Inc. | 46,239 | ||
301 | Landstar System, Inc. | 43,456 | ||
615 | Ryder System, Inc. | 46,426 | ||
136,121 | ||||
Semiconductors & Semiconductor Equipment – 2.4% | ||||
7,077 | Amkor Technology, Inc. | 120,663 | ||
426 | MKS Instruments, Inc. | 35,204 | ||
1,599 | Power Integrations, Inc. | 102,848 | ||
1,186 | Universal Display Corp. | 111,899 | ||
370,614 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Software – 1.9% | ||||
3,602 | Bentley Systems, Inc., Class B | $110,185 | ||
1,676 | Dolby Laboratories, Inc., Class A | 109,192 | ||
2,507 | Pegasystems, Inc. | 80,575 | ||
299,952 | ||||
Specialty Retail – 3.0% | ||||
4,368 | American Eagle Outfitters, Inc. | 42,500 | ||
648 | Dick’s Sporting Goods, Inc. | 67,807 | ||
1,934 | Foot Locker, Inc. | 60,205 | ||
5,927 | Gap (The), Inc. | 48,661 | ||
178 | Lithia Motors, Inc. | 38,190 | ||
210 | Murphy USA, Inc. | 57,731 | ||
466 | Penske Automotive Group, Inc. | 45,868 | ||
914 | Signet Jewelers Ltd. | 52,272 | ||
440 | Williams-Sonoma, Inc. | 51,854 | ||
465,088 | ||||
Textiles, Apparel & Luxury Goods – 1.6% | ||||
693 | Carter’s, Inc. | 45,412 | ||
682 | Columbia Sportswear Co. | 45,899 | ||
4,746 | Hanesbrands, Inc. | 33,032 | ||
858 | PVH Corp. | 38,438 | ||
545 | Ralph Lauren Corp. | 46,287 | ||
1,600 | Tapestry, Inc. | 45,488 | ||
254,556 | ||||
Thrifts & Mortgage Finance – 1.0% | ||||
830 | Essent Group Ltd. | 28,942 | ||
2,562 | MGIC Investment Corp. | 32,845 | ||
3,536 | New York Community Bancorp, Inc. | 30,162 | ||
1,643 | Radian Group, Inc. | 31,693 | ||
335 | Walker & Dunlop, Inc. | 28,050 | ||
151,692 | ||||
Trading Companies & Distributors – 1.5% | ||||
1,308 | Air Lease Corp. | 40,561 | ||
485 | Herc Holdings, Inc. | 50,382 | ||
582 | MSC Industrial Direct Co., Inc., Class A | 42,375 | ||
831 | Triton International Ltd. | 45,481 | ||
183 | Watsco, Inc. | 47,115 | ||
225,914 | ||||
Water Utilities – 0.2% | ||||
884 | Essential Utilities, Inc. | 36,580 | ||
Total Common Stocks | 14,249,591 | |||
(Cost $16,603,774) |
Shares | Description | Value | ||
REAL ESTATE INVESTMENT TRUSTS – 8.7% | ||||
Equity Real Estate Investment Trusts – 7.9% | ||||
516 | Agree Realty Corp. | $34,871 | ||
1,050 | American Homes 4 Rent, Class A | 34,451 | ||
1,239 | Americold Realty Trust | 30,479 | ||
895 | Apartment Income REIT Corp. | 34,565 | ||
1,841 | Brixmor Property Group, Inc. | 34,003 | ||
1,273 | Cousins Properties, Inc. | 29,725 | ||
871 | CubeSmart | 34,892 | ||
1,663 | Douglas Emmett, Inc. | 29,818 | ||
241 | EastGroup Properties, Inc. | 34,786 | ||
389 | Federal Realty Investment Trust | 35,057 | ||
784 | First Industrial Realty Trust, Inc. | 35,131 | ||
811 | Gaming and Leisure Properties, Inc. | 35,879 | ||
1,368 | Healthcare Realty Trust, Inc. | 28,523 | ||
1,088 | Highwoods Properties, Inc. | 29,333 | ||
2,373 | Host Hotels & Resorts, Inc. | 37,683 | ||
339 | Innovative Industrial Properties, Inc. | 30,002 | ||
764 | Iron Mountain, Inc. | 33,593 | ||
711 | Kilroy Realty Corp. | 29,940 | ||
2,152 | Kite Realty Group Trust | 37,057 | ||
423 | Lamar Advertising Co., Class A | 34,893 | ||
333 | Life Storage, Inc. | 36,883 | ||
3,465 | LXP Industrial Trust | 31,739 | ||
2,437 | Medical Properties Trust, Inc. | 28,903 | ||
865 | National Retail Properties, Inc. | 34,479 | ||
743 | National Storage Affiliates Trust | 30,894 | ||
1,320 | Omega Healthcare Investors, Inc. | 38,927 | ||
2,742 | Park Hotels & Resorts, Inc. | 30,875 | ||
2,133 | Physicians Realty Trust | 32,080 | ||
996 | Rayonier, Inc. | 29,850 | ||
627 | Regency Centers Corp. | 33,764 | ||
646 | Rexford Industrial Realty, Inc. | 33,592 | ||
806 | SL Green Realty Corp. | 32,369 | ||
985 | Spirit Realty Capital, Inc. | 35,618 | ||
1,205 | STAG Industrial, Inc. | 34,258 | ||
1,427 | STORE Capital Corp. | 44,708 | ||
668 | Terreno Realty Corp. | 35,397 | ||
1,302 | Vornado Realty Trust | 30,154 | ||
1,239,171 | ||||
Mortgage Real Estate Investment Trusts – 0.8% | ||||
2,916 | AGNC Investment Corp. | 24,553 | ||
1,365 | Annaly Capital Management, Inc. | 23,423 | ||
1,167 | Blackstone Mortgage Trust, Inc., Class A | 27,238 | ||
3,464 | Rithm Capital Corp. | 25,356 |
Shares | Description | Value | ||
REAL ESTATE INVESTMENT TRUSTS (Continued) | ||||
Mortgage Real Estate Investment Trusts (Continued) | ||||
1,545 | Starwood Property Trust, Inc. | $28,150 | ||
128,720 | ||||
Total Real Estate Investment Trusts | 1,367,891 | |||
(Cost $1,717,013) | ||||
Total Investments – 99.9% | 15,617,482 | |||
(Cost $18,320,787) | ||||
Net Other Assets and Liabilities – 0.1% | 11,406 | |||
Net Assets – 100.0% | $15,628,888 |
Total Value at 9/30/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 14,249,591 | $ 14,249,591 | $ — | $ — |
Real Estate Investment Trusts* | 1,367,891 | 1,367,891 | — | — |
Total Investments | $ 15,617,482 | $ 15,617,482 | $— | $— |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 90.6% | ||||
Aerospace & Defense – 0.5% | ||||
2,601 | Maxar Technologies, Inc. | $48,691 | ||
855 | Moog, Inc., Class A | 60,149 | ||
108,840 | ||||
Air Freight & Logistics – 0.3% | ||||
738 | Forward Air Corp. | 66,612 | ||
Auto Components – 0.9% | ||||
5,677 | Dana, Inc. | 64,888 | ||
714 | LCI Industries | 72,442 | ||
1,309 | Patrick Industries, Inc. | 57,387 | ||
194,717 | ||||
Automobiles – 0.4% | ||||
1,645 | Winnebago Industries, Inc. | 87,530 | ||
Banks – 10.7% | ||||
1,115 | Ameris Bancorp | 49,852 | ||
2,452 | Associated Banc-Corp. | 49,236 | ||
1,320 | Atlantic Union Bankshares Corp. | 40,102 | ||
468 | BancFirst Corp. | 41,872 | ||
602 | Bank of Hawaii Corp. | 45,824 | ||
1,259 | BankUnited, Inc. | 43,020 | ||
797 | Banner Corp. | 47,087 | ||
1,808 | Berkshire Hills Bancorp, Inc. | 49,358 | ||
1,144 | Cathay General Bancorp | 43,998 | ||
1,563 | Columbia Banking System, Inc. | 45,155 | ||
1,805 | CVB Financial Corp. | 45,703 | ||
1,510 | Dime Community Bancshares, Inc. | 44,213 | ||
945 | Eagle Bancorp, Inc. | 42,355 | ||
1,079 | Enterprise Financial Services Corp. | 47,519 | ||
1,142 | FB Financial Corp. | 43,636 | ||
1,283 | First Bancorp | 46,932 | ||
3,469 | First BanCorp | 47,456 | ||
1,960 | First Busey Corp. | 43,081 | ||
3,337 | First Commonwealth Financial Corp. | 42,847 | ||
2,308 | First Financial Bancorp | 48,653 | ||
2,187 | First Foundation, Inc. | 39,672 | ||
1,972 | First Hawaiian, Inc. | 48,570 | ||
1,175 | First Interstate BancSystem, Inc., Class A | 47,411 | ||
1,257 | First Merchants Corp. | 48,621 | ||
3,099 | Fulton Financial Corp. | 48,964 | ||
1,078 | Heartland Financial USA, Inc. | 46,742 | ||
1,680 | Hilltop Holdings, Inc. | 41,748 | ||
3,236 | Hope Bancorp, Inc. | 40,903 | ||
659 | Independent Bank Group, Inc. | 40,456 | ||
1,117 | International Bancshares Corp. | 47,473 | ||
674 | Lakeland Financial Corp. | 49,074 | ||
1,321 | Live Oak Bancshares, Inc. | 40,423 | ||
1,158 | Meta Financial Group, Inc. | 38,168 | ||
1,170 | National Bank Holdings Corp., Class A | 43,278 |
Shares | Description | Value | ||
Banks (Continued) | ||||
1,191 | NBT Bancorp, Inc. | $45,198 | ||
3,499 | Northwest Bancshares, Inc. | 47,271 | ||
1,763 | OFG Bancorp | 44,304 | ||
3,028 | Old National Bancorp | 49,871 | ||
1,532 | Pacific Premier Bancorp, Inc. | 47,431 | ||
369 | Park National Corp. | 45,933 | ||
1,554 | Renasant Corp. | 48,609 | ||
1,146 | Sandy Spring Bancorp, Inc. | 40,408 | ||
1,355 | Seacoast Banking Corp. of Florida | 40,962 | ||
2,106 | Simmons First National Corp., Class A | 45,890 | ||
749 | Stock Yards Bancorp, Inc. | 50,940 | ||
1,649 | Towne Bank | 44,243 | ||
1,534 | Trustmark Corp. | 46,986 | ||
1,483 | United Community Banks, Inc. | 49,087 | ||
1,530 | Veritex Holdings, Inc. | 40,683 | ||
1,492 | Washington Federal, Inc. | 44,730 | ||
1,412 | WesBanco, Inc. | 47,118 | ||
805 | Westamerica BanCorp | 42,093 | ||
2,351,159 | ||||
Beverages – 0.4% | ||||
762 | MGP Ingredients, Inc. | 80,894 | ||
Building Products – 1.0% | ||||
1,239 | AAON, Inc. | 66,757 | ||
659 | CSW Industrials, Inc. | 78,948 | ||
2,491 | Zurn Water Solutions Corp. | 61,030 | ||
206,735 | ||||
Capital Markets – 2.5% | ||||
1,259 | Artisan Partners Asset Management, Inc., Class A | 33,905 | ||
1,060 | B. Riley Financial, Inc. | 47,191 | ||
13,289 | BGC Partners, Inc., Class A | 41,728 | ||
2,487 | Brightsphere Investment Group, Inc. | 37,081 | ||
1,409 | Federated Hermes, Inc. | 46,666 | ||
667 | Hamilton Lane, Inc., Class A | 39,760 | ||
1,138 | Moelis & Co., Class A | 38,476 | ||
395 | Piper Sandler Cos. | 41,372 | ||
637 | PJT Partners, Inc., Class A | 42,565 | ||
1,720 | StepStone Group, Inc., Class A | 42,157 | ||
1,858 | Victory Capital Holdings, Inc., Class A | 43,310 | ||
1,913 | Virtu Financial, Inc., Class A | 39,733 | ||
262 | Virtus Investment Partners, Inc. | 41,794 | ||
535,738 | ||||
Chemicals – 1.8% | ||||
868 | Cabot Corp. | 55,456 | ||
578 | Innospec, Inc. | 49,517 | ||
902 | Minerals Technologies, Inc. | 44,568 | ||
184 | NewMarket Corp. | 55,353 | ||
370 | Quaker Chemical Corp. | 53,421 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Chemicals (Continued) | ||||
687 | Sensient Technologies Corp. | $47,637 | ||
546 | Stepan Co. | 51,144 | ||
1,764 | Trinseo PLC | 32,316 | ||
389,412 | ||||
Commercial Services & Supplies – 1.6% | ||||
1,563 | ABM Industries, Inc. | 59,753 | ||
1,436 | Brady Corp., Class A | 59,924 | ||
1,118 | Brink’s (The) Co. | 54,156 | ||
2,303 | HNI Corp. | 61,052 | ||
3,041 | MillerKnoll, Inc. | 47,440 | ||
394 | UniFirst Corp. | 66,283 | ||
348,608 | ||||
Construction & Engineering – 1.6% | ||||
2,963 | Arcosa, Inc. | 169,424 | ||
816 | Comfort Systems USA, Inc. | 79,421 | ||
2,329 | Granite Construction, Inc. | 59,133 | ||
3,118 | Primoris Services Corp. | 50,668 | ||
358,646 | ||||
Consumer Finance – 0.9% | ||||
1,831 | Bread Financial Holdings, Inc. | 57,585 | ||
644 | FirstCash Holdings, Inc. | 47,237 | ||
3,201 | Navient Corp. | 47,023 | ||
525 | Nelnet, Inc., Class A | 41,575 | ||
193,420 | ||||
Containers & Packaging – 0.9% | ||||
1,088 | Greif, Inc., Class A | 64,812 | ||
6,812 | Pactiv Evergreen, Inc. | 59,469 | ||
2,450 | TriMas Corp. | 61,421 | ||
185,702 | ||||
Diversified Consumer Services – 0.7% | ||||
141 | Graham Holdings Co., Class B | 75,855 | ||
1,132 | Strategic Education, Inc. | 69,516 | ||
145,371 | ||||
Diversified Financial Services – 0.4% | ||||
2,091 | Compass Diversified Holdings | 37,763 | ||
1,674 | Jackson Financial, Inc., Class A | 46,454 | ||
84,217 | ||||
Diversified Telecommunication Services – 0.5% | ||||
2,158 | Cogent Communications Holdings, Inc. | 112,561 | ||
Electric Utilities – 0.7% | ||||
951 | ALLETE, Inc. | 47,598 |
Shares | Description | Value | ||
Electric Utilities (Continued) | ||||
718 | MGE Energy, Inc. | $47,122 | ||
1,011 | Otter Tail Corp. | 62,197 | ||
156,917 | ||||
Electrical Equipment – 0.8% | ||||
653 | Encore Wire Corp. | 75,448 | ||
1,151 | EnerSys | 66,954 | ||
7,830 | GrafTech International Ltd. | 33,747 | ||
176,149 | ||||
Electronic Equipment, Instruments & Components – 5.8% | ||||
5,003 | Advanced Energy Industries, Inc. | 387,282 | ||
839 | Badger Meter, Inc. | 77,515 | ||
1,274 | Belden, Inc. | 76,466 | ||
9,858 | Methode Electronics, Inc. | 366,225 | ||
20,490 | Vishay Intertechnology, Inc. | 364,517 | ||
1,272,005 | ||||
Energy Equipment & Services – 1.6% | ||||
3,416 | Cactus, Inc., Class A | 131,277 | ||
3,194 | Helmerich & Payne, Inc. | 118,082 | ||
8,728 | Patterson-UTI Energy, Inc. | 101,943 | ||
351,302 | ||||
Entertainment – 0.4% | ||||
1,278 | World Wrestling Entertainment, Inc., Class A | 89,677 | ||
Food & Staples Retailing – 0.6% | ||||
1,115 | PriceSmart, Inc. | 64,213 | ||
1,023 | Weis Markets, Inc. | 72,878 | ||
137,091 | ||||
Food Products – 1.0% | ||||
3,206 | B&G Foods, Inc. (a) | 52,867 | ||
1,543 | Cal-Maine Foods, Inc. | 85,775 | ||
546 | J&J Snack Foods Corp. | 70,691 | ||
209,333 | ||||
Gas Utilities – 0.7% | ||||
431 | Chesapeake Utilities Corp. | 49,733 | ||
1,052 | Northwest Natural Holding Co. | 45,636 | ||
751 | Spire, Inc. | 46,810 | ||
142,179 | ||||
Health Care Equipment & Supplies – 0.2% | ||||
333 | Mesa Laboratories, Inc. | 46,896 | ||
Health Care Providers & Services – 12.2% | ||||
33,939 | Owens & Minor, Inc. | 817,930 | ||
35,227 | Patterson Cos., Inc. | 846,152 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Health Care Providers & Services (Continued) | ||||
45,190 | Select Medical Holdings Corp. | $998,699 | ||
2,662,781 | ||||
Hotels, Restaurants & Leisure – 2.4% | ||||
4,806 | Bloomin’ Brands, Inc. | 88,094 | ||
3,023 | Cheesecake Factory (The), Inc. | 88,513 | ||
957 | Cracker Barrel Old Country Store, Inc. | 88,599 | ||
1,425 | Jack in the Box, Inc. | 105,550 | ||
5,873 | Krispy Kreme, Inc. | 67,716 | ||
2,394 | Red Rock Resorts, Inc., Class A | 82,018 | ||
520,490 | ||||
Household Durables – 1.6% | ||||
1,776 | Century Communities, Inc. | 75,977 | ||
816 | Installed Building Products, Inc. | 66,088 | ||
2,807 | KB Home | 72,758 | ||
3,369 | La-Z-Boy, Inc. | 76,038 | ||
2,472 | MDC Holdings, Inc. | 67,782 | ||
358,643 | ||||
Household Products – 0.8% | ||||
2,689 | Energizer Holdings, Inc. | 67,602 | ||
929 | Spectrum Brands Holdings, Inc. | 36,259 | ||
379 | WD-40 Co. | 66,605 | ||
170,466 | ||||
Insurance – 1.2% | ||||
1,215 | Argo Group International Holdings Ltd. | 23,401 | ||
803 | Assured Guaranty Ltd. | 38,905 | ||
2,476 | CNO Financial Group, Inc. | 44,494 | ||
1,167 | Horace Mann Educators Corp. | 41,183 | ||
1,011 | Mercury General Corp. | 28,733 | ||
900 | Stewart Information Services Corp. | 39,276 | ||
36 | White Mountains Insurance Group Ltd. | 46,909 | ||
262,901 | ||||
Interactive Media & Services – 1.5% | ||||
6,371 | Shutterstock, Inc. | 319,633 | ||
IT Services – 1.9% | ||||
6,118 | CSG Systems International, Inc. | 323,520 | ||
1,840 | EVERTEC, Inc. | 57,684 | ||
999 | TTEC Holdings, Inc. | 44,266 | ||
425,470 | ||||
Leisure Products – 0.4% | ||||
1,916 | Acushnet Holdings Corp. | 83,327 |
Shares | Description | Value | ||
Machinery – 5.6% | ||||
583 | Alamo Group, Inc. | $71,283 | ||
861 | Albany International Corp., Class A | 67,873 | ||
1,925 | Altra Industrial Motion Corp. | 64,719 | ||
1,664 | Astec Industries, Inc. | 51,900 | ||
2,179 | Barnes Group, Inc. | 62,930 | ||
828 | EnPro Industries, Inc. | 70,363 | ||
992 | ESCO Technologies, Inc. | 72,853 | ||
1,906 | Federal Signal Corp. | 71,132 | ||
1,024 | Helios Technologies, Inc. | 51,814 | ||
1,657 | Hillenbrand, Inc. | 60,845 | ||
372 | Kadant, Inc. | 62,053 | ||
2,921 | Kennametal, Inc. | 60,114 | ||
511 | Lindsay Corp. | 73,216 | ||
1,039 | Mueller Industries, Inc. | 61,758 | ||
5,785 | Mueller Water Products, Inc., Class A | 59,412 | ||
3,650 | Shyft Group (The), Inc. | 74,570 | ||
1,145 | Tennant Co. | 64,761 | ||
2,479 | Terex Corp. | 73,726 | ||
2,801 | Trinity Industries, Inc. | 59,801 | ||
1,235,123 | ||||
Media – 0.9% | ||||
4,729 | Gray Television, Inc. | 67,719 | ||
1,672 | John Wiley & Sons, Inc., Class A | 62,800 | ||
3,915 | Sinclair Broadcast Group, Inc., Class A | 70,823 | ||
201,342 | ||||
Metals & Mining – 1.5% | ||||
1,983 | Carpenter Technology Corp. | 61,750 | ||
1,564 | Compass Minerals International, Inc. | 60,261 | ||
14,121 | Hecla Mining Co. | 55,637 | ||
700 | Kaiser Aluminum Corp. | 42,945 | ||
751 | Materion Corp. | 60,080 | ||
1,255 | Worthington Industries, Inc. | 47,866 | ||
328,539 | ||||
Multiline Retail – 0.5% | ||||
2,278 | Franchise Group, Inc. | 55,355 | ||
3,780 | Nordstrom, Inc. | 63,240 | ||
118,595 | ||||
Multi-Utilities – 0.4% | ||||
1,284 | Avista Corp. | 47,572 | ||
948 | NorthWestern Corp. | 46,718 | ||
94,290 | ||||
Oil, Gas & Consumable Fuels – 4.6% | ||||
961 | Arch Resources, Inc. | 113,975 | ||
3,573 | California Resources Corp. | 137,310 | ||
1,131 | Chord Energy Corp. | 154,687 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Oil, Gas & Consumable Fuels (Continued) | ||||
4,451 | CVR Energy, Inc. | $128,990 | ||
21,628 | Equitrans Midstream Corp. | 161,777 | ||
5,445 | Northern Oil and Gas, Inc. | 149,248 | ||
6,723 | World Fuel Services Corp. | 157,587 | ||
1,003,574 | ||||
Personal Products – 1.2% | ||||
2,208 | Edgewell Personal Care Co. | 82,579 | ||
1,093 | Inter Parfums, Inc. | 82,478 | ||
422 | Medifast, Inc. | 45,728 | ||
1,761 | Nu Skin Enterprises, Inc., Class A | 58,765 | ||
269,550 | ||||
Professional Services – 0.9% | ||||
714 | ICF International, Inc. | 77,840 | ||
1,106 | Kforce, Inc. | 64,867 | ||
1,169 | Korn Ferry | 54,885 | ||
197,592 | ||||
Real Estate Management & Development – 0.7% | ||||
2,499 | Kennedy-Wilson Holdings, Inc. | 38,635 | ||
1,280 | Marcus & Millichap, Inc. | 41,958 | ||
4,895 | Newmark Group, Inc., Class A | 39,454 | ||
1,196 | St. Joe (The) Co. | 38,308 | ||
158,355 | ||||
Road & Rail – 1.3% | ||||
964 | ArcBest Corp. | 70,112 | ||
4,034 | Marten Transport Ltd. | 77,291 | ||
3,032 | Schneider National, Inc., Class B | 61,550 | ||
1,761 | Werner Enterprises, Inc. | 66,213 | ||
275,166 | ||||
Software – 3.6% | ||||
2,156 | InterDigital, Inc. | 87,145 | ||
8,060 | Progress Software Corp. | 342,953 | ||
25,304 | Xperi Holding Corp. | 357,799 | ||
787,897 | ||||
Specialty Retail – 3.0% | ||||
2,247 | Academy Sports & Outdoors, Inc. | 94,778 | ||
2,885 | Buckle (The), Inc. | 91,339 | ||
3,700 | Camping World Holdings, Inc., Class A | 93,684 | ||
470 | Group 1 Automotive, Inc. | 67,149 | ||
4,685 | Guess?, Inc. | 68,729 | ||
1,863 | Monro, Inc. | 80,966 | ||
4,107 | Rent-A-Center, Inc. | 71,914 | ||
2,181 | Sonic Automotive, Inc., Class A | 94,437 | ||
662,996 |
Shares | Description | Value | ||
Technology Hardware, Storage & Peripherals – 1.5% | ||||
24,588 | Xerox Holdings Corp. | $321,611 | ||
Textiles, Apparel & Luxury Goods – 1.6% | ||||
2,394 | Kontoor Brands, Inc. | 80,462 | ||
4,894 | Levi Strauss & Co., Class A | 70,816 | ||
900 | Oxford Industries, Inc. | 80,802 | ||
2,480 | Steven Madden Ltd. | 66,142 | ||
3,962 | Wolverine World Wide, Inc. | 60,975 | ||
359,197 | ||||
Thrifts & Mortgage Finance – 0.8% | ||||
4,878 | Capitol Federal Financial, Inc. | 40,487 | ||
1,025 | PennyMac Financial Services, Inc. | 43,973 | ||
2,012 | Provident Financial Services, Inc. | 39,234 | ||
1,117 | WSFS Financial Corp. | 51,896 | ||
175,590 | ||||
Tobacco – 0.3% | ||||
7,261 | Vector Group Ltd. | 63,969 | ||
Trading Companies & Distributors – 1.8% | ||||
706 | Applied Industrial Technologies, Inc. | 72,563 | ||
931 | Boise Cascade Co. | 55,357 | ||
721 | GATX Corp. | 61,393 | ||
2,342 | H&E Equipment Services, Inc. | 66,372 | ||
893 | McGrath RentCorp | 74,887 | ||
1,657 | Rush Enterprises, Inc., Class A | 72,676 | ||
403,248 | ||||
Water Utilities – 1.0% | ||||
686 | American States Water Co. | 53,474 | ||
1,006 | California Water Service Group | 53,006 | ||
637 | Middlesex Water Co. | 49,176 | ||
895 | SJW Group | 51,552 | ||
207,208 | ||||
Wireless Telecommunication Services – 0.5% | ||||
8,302 | Telephone & Data Systems, Inc. | 115,398 | ||
Total Common Stocks | 19,814,662 | |||
(Cost $23,798,884) | ||||
REAL ESTATE INVESTMENT TRUSTS – 9.0% | ||||
Equity Real Estate Investment Trusts – 7.4% | ||||
3,030 | Acadia Realty Trust | 38,239 | ||
2,637 | Alexander & Baldwin, Inc. | 43,721 | ||
1,594 | American Assets Trust, Inc. | 40,998 | ||
3,227 | Apple Hospitality REIT, Inc. | 45,372 | ||
4,910 | Brandywine Realty Trust | 33,142 |
Shares | Description | Value | ||
REAL ESTATE INVESTMENT TRUSTS (Continued) | ||||
Equity Real Estate Investment Trusts (Continued) | ||||
2,308 | Broadstone Net Lease, Inc. | $35,843 | ||
2,567 | CareTrust REIT, Inc. | 46,488 | ||
580 | Centerspace | 39,046 | ||
1,807 | Corporate Office Properties Trust | 41,977 | ||
2,486 | Easterly Government Properties, Inc. | 39,204 | ||
6,733 | Empire State Realty Trust, Inc., Class A | 44,168 | ||
1,009 | EPR Properties | 36,183 | ||
2,203 | Essential Properties Realty Trust, Inc. | 42,848 | ||
1,780 | Four Corners Property Trust, Inc. | 43,058 | ||
3,343 | Global Net Lease, Inc. | 35,603 | ||
3,190 | Hudson Pacific Properties, Inc. | 34,930 | ||
2,283 | Independence Realty Trust, Inc. | 38,195 | ||
3,362 | Industrial Logistics Properties Trust | 18,491 | ||
1,835 | InvenTrust Properties Corp. | 39,141 | ||
3,266 | iStar, Inc. | 30,243 | ||
2,002 | JBG SMITH Properties | 37,197 | ||
1,233 | LTC Properties, Inc. | 46,176 | ||
5,434 | Macerich (The) Co. | 43,146 | ||
781 | National Health Investors, Inc. | 44,150 | ||
757 | NexPoint Residential Trust, Inc. | 34,981 | ||
2,793 | Outfront Media, Inc. | 42,426 | ||
6,547 | Paramount Group, Inc. | 40,788 | ||
2,857 | Pebblebrook Hotel Trust | 41,455 | ||
1,417 | Phillips Edison & Co Inc | 39,747 | ||
3,608 | Piedmont Office Realty Trust, Inc., Class A | 38,100 | ||
1,071 | PotlatchDeltic Corp. | 43,954 | ||
3,000 | Retail Opportunity Investments Corp. | 41,280 | ||
4,291 | RLJ Lodging Trust | 43,425 | ||
3,388 | Sabra Health Care REIT, Inc. | 44,451 | ||
1,338 | Safehold, Inc. | 35,403 | ||
9,050 | Service Properties Trust | 46,969 | ||
3,514 | SITE Centers Corp. | 37,635 | ||
3,329 | Tanger Factory Outlet Centers, Inc. | 45,541 | ||
5,025 | Uniti Group, Inc. | 34,924 | ||
3,112 | Urban Edge Properties | 41,514 | ||
2,221 | Washington Real Estate Investment Trust | 39,001 | ||
1,629,153 | ||||
Mortgage Real Estate Investment Trusts – 1.6% | ||||
4,290 | Apollo Commercial Real Estate Finance, Inc. | 35,607 | ||
3,416 | Arbor Realty Trust, Inc. | 39,284 | ||
5,077 | Chimera Investment Corp. | 26,502 | ||
1,250 | Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 37,412 |
Shares | Description | Value | ||
Mortgage Real Estate Investment Trusts (Continued) | ||||
4,249 | Ladder Capital Corp. | $38,071 | ||
4,166 | MFA Financial, Inc. | 32,411 | ||
16,226 | New York Mortgage Trust, Inc. | 37,969 | ||
3,238 | PennyMac Mortgage Investment Trust | 38,144 | ||
5,808 | Redwood Trust, Inc. | 33,338 | ||
8,993 | Two Harbors Investment Corp. | 29,857 | ||
348,595 | ||||
Total Real Estate Investment Trusts | 1,977,748 | |||
(Cost $2,829,800) | ||||
COMMON STOCKS – BUSINESS DEVELOPMENT COMPANIES - 0.2% | ||||
Capital Markets – 0.2% | ||||
3,455 | Golub Capital BDC, Inc. | 42,807 | ||
(Cost $52,576) | ||||
MONEY MARKET FUNDS – 0.2% | ||||
51,789 | Goldman Sachs Financial Square Treasury Obligations Fund - Institutional Class - 2.77% (b) (c) | 51,789 | ||
(Cost $51,789) | ||||
Total Investments – 100.0% | 21,887,006 | |||
(Cost $26,733,049) | ||||
Net Other Assets and Liabilities – (0.0)% | (1,852) | |||
Net Assets – 100.0% | $21,885,154 |
(a) | All or a portion of this security is on loan (see Note 2E - Securities Lending in the Notes to Financial Statements). The remaining contractual maturity of all of the securities lending transactions is overnight and continuous. The aggregate value of such securities is $49,651 and the total value of the collateral held by the Fund is $51,789. |
(b) | Rate shown reflects yield as of September 30, 2022. |
(c) | This security serves as collateral for securities on loan. |
Securities Lending Agency Agreement | |
Total gross amount presented on the Statements of Assets and Liabilities (1) | $49,651 |
Non-cash Collateral (2) | (49,651) |
Net Amount | $— |
(1) | The amount presented on the Statements of Assets and Liabilities, which is included in “Investments, at value,” is not offset and is shown on a gross basis. |
(2) | At September 30, 2022, the value of the collateral received from each borrower exceeded the value of the related securities loaned. This amount is disclosed on the Portfolio of Investments. |
Total Value at 9/30/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 19,814,662 | $ 19,814,662 | $ — | $ — |
Real Estate Investment Trusts* | 1,977,748 | 1,977,748 | — | — |
Common Stocks - Business Development Companies* | 42,807 | 42,807 | — | — |
Money Market Funds | 51,789 | 51,789 | — | — |
Total Investments | $ 21,887,006 | $ 21,887,006 | $— | $— |
* | See Portfolio of Investments for industry breakout. |
Shares | Description | Value | ||
COMMON STOCKS – 96.7% | ||||
Aerospace & Defense – 1.5% | ||||
371 | General Dynamics Corp. | $78,715 | ||
218 | L3Harris Technologies, Inc. | 45,307 | ||
177 | Lockheed Martin Corp. | 68,373 | ||
671 | Raytheon Technologies Corp. | 54,928 | ||
247,323 | ||||
Air Freight & Logistics – 0.4% | ||||
454 | United Parcel Service, Inc., Class B | 73,339 | ||
Automobiles – 0.7% | ||||
9,621 | Ford Motor Co. | 107,755 | ||
Banks – 4.1% | ||||
1,211 | Bank of America Corp. | 36,572 | ||
1,348 | Citigroup, Inc. | 56,171 | ||
1,711 | Citizens Financial Group, Inc. | 58,790 | ||
1,485 | Fifth Third Bancorp | 47,461 | ||
5,937 | Huntington Bancshares, Inc. | 78,250 | ||
430 | JPMorgan Chase & Co. | 44,935 | ||
3,624 | KeyCorp | 58,056 | ||
258 | M&T Bank Corp. | 45,491 | ||
295 | PNC Financial Services Group (The), Inc. | 44,079 | ||
2,702 | Regions Financial Corp. | 54,229 | ||
1,192 | Truist Financial Corp. | 51,900 | ||
1,214 | US Bancorp | 48,948 | ||
820 | Wells Fargo & Co. | 32,980 | ||
657,862 | ||||
Beverages – 0.7% | ||||
645 | Coca-Cola (The) Co. | 36,133 | ||
889 | Keurig Dr. Pepper, Inc. | 31,844 | ||
234 | PepsiCo, Inc. | 38,203 | ||
106,180 | ||||
Biotechnology – 4.3% | ||||
1,508 | AbbVie, Inc. | 202,389 | ||
816 | Amgen, Inc. | 183,926 | ||
4,921 | Gilead Sciences, Inc. | 303,577 | ||
689,892 | ||||
Building Products – 1.3% | ||||
1,702 | Johnson Controls International PLC | 83,772 | ||
1,198 | Masco Corp. | 55,935 | ||
445 | Trane Technologies PLC | 64,441 | ||
204,148 | ||||
Capital Markets – 3.3% | ||||
115 | Ameriprise Financial, Inc. | 28,974 | ||
1,092 | Bank of New York Mellon (The) Corp. | 42,064 | ||
68 | BlackRock, Inc. | 37,419 | ||
766 | Blackstone, Inc. | 64,114 | ||
1,498 | Carlyle Group (The), Inc. | 38,708 |
Shares | Description | Value | ||
Capital Markets (Continued) | ||||
127 | CME Group, Inc. | $22,496 | ||
2,957 | Franklin Resources, Inc. | 63,635 | ||
127 | Goldman Sachs Group (The), Inc. | 37,217 | ||
676 | Morgan Stanley | 53,411 | ||
420 | Northern Trust Corp. | 35,935 | ||
838 | State Street Corp. | 50,959 | ||
494 | T Rowe Price Group, Inc. | 51,875 | ||
526,807 | ||||
Chemicals – 1.5% | ||||
69 | Air Products and Chemicals, Inc. | 16,058 | ||
125 | Celanese Corp. | 11,293 | ||
671 | Dow, Inc. | 29,477 | ||
1,215 | DuPont de Nemours, Inc. | 61,236 | ||
235 | Eastman Chemical Co. | 16,697 | ||
115 | FMC Corp. | 12,155 | ||
142 | International Flavors & Fragrances, Inc. | 12,898 | ||
382 | LyondellBasell Industries N.V., Class A | 28,757 | ||
538 | PPG Industries, Inc. | 59,551 | ||
248,122 | ||||
Communications Equipment – 0.6% | ||||
2,396 | Cisco Systems, Inc. | 95,840 | ||
Consumer Finance – 1.7% | ||||
1,369 | Ally Financial, Inc. | 38,099 | ||
361 | American Express Co. | 48,703 | ||
659 | Capital One Financial Corp. | 60,740 | ||
328 | Discover Financial Services | 29,822 | ||
3,436 | Synchrony Financial | 96,861 | ||
274,225 | ||||
Containers & Packaging – 0.7% | ||||
68 | Avery Dennison Corp. | 11,064 | ||
683 | International Paper Co. | 21,651 | ||
670 | Packaging Corp. of America | 75,234 | ||
107,949 | ||||
Distributors – 0.7% | ||||
768 | Genuine Parts Co. | 114,678 | ||
Diversified Financial Services – 0.3% | �� | |||
1,070 | Apollo Global Management, Inc. | 49,755 | ||
Diversified Telecommunication Services – 1.6% | ||||
9,682 | AT&T, Inc. | 148,522 | ||
2,892 | Verizon Communications, Inc. | 109,809 | ||
258,331 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Electric Utilities – 1.9% | ||||
363 | Alliant Energy Corp. | $19,235 | ||
251 | American Electric Power Co., Inc. | 21,699 | ||
257 | Duke Energy Corp. | 23,906 | ||
511 | Edison International | 28,913 | ||
235 | Entergy Corp. | 23,648 | ||
397 | Evergy, Inc. | 23,582 | ||
261 | Eversource Energy | 20,348 | ||
446 | Exelon Corp. | 16,707 | ||
794 | FirstEnergy Corp. | 29,378 | ||
203 | NextEra Energy, Inc. | 15,917 | ||
1,280 | PPL Corp. | 32,448 | ||
393 | Southern (The) Co. | 26,724 | ||
283 | Xcel Energy, Inc. | 18,112 | ||
300,617 | ||||
Electrical Equipment – 1.4% | ||||
589 | Eaton Corp. PLC | 78,549 | ||
965 | Emerson Electric Co. | 70,657 | ||
332 | Rockwell Automation, Inc. | 71,417 | ||
220,623 | ||||
Electronic Equipment, Instruments & Components – 2.9% | ||||
10,257 | Corning, Inc. | 297,658 | ||
1,606 | TE Connectivity Ltd. | 177,238 | ||
474,896 | ||||
Energy Equipment & Services – 0.1% | ||||
1,069 | Baker Hughes Co. | 22,406 | ||
Food & Staples Retailing – 1.2% | ||||
557 | Kroger (The) Co. | 24,369 | ||
490 | Sysco Corp. | 34,648 | ||
1,975 | Walgreens Boots Alliance, Inc. | 62,015 | ||
597 | Walmart, Inc. | 77,431 | ||
198,463 | ||||
Food Products – 2.7% | ||||
380 | Archer-Daniels-Midland Co. | 30,571 | ||
379 | Bunge Ltd. | 31,294 | ||
1,583 | Conagra Brands, Inc. | 51,653 | ||
532 | General Mills, Inc. | 40,757 | ||
116 | Hershey (The) Co. | 25,575 | ||
669 | Hormel Foods Corp. | 30,399 | ||
359 | J.M. Smucker (The) Co. | 49,330 | ||
677 | Kellogg Co. | 47,160 | ||
1,633 | Kraft Heinz (The) Co. | 54,461 | ||
304 | McCormick & Co., Inc. | 21,666 | ||
539 | Mondelez International, Inc., Class A | 29,553 |
Shares | Description | Value | ||
Food Products (Continued) | ||||
366 | Tyson Foods, Inc., Class A | $24,130 | ||
436,549 | ||||
Gas Utilities – 0.1% | ||||
159 | Atmos Energy Corp. | 16,194 | ||
Health Care Equipment & Supplies – 2.2% | ||||
1,017 | Abbott Laboratories | 98,405 | ||
1,788 | Baxter International, Inc. | 96,302 | ||
2,083 | Medtronic PLC | 168,202 | ||
362,909 | ||||
Health Care Providers & Services – 2.9% | ||||
4,702 | Cardinal Health, Inc. | 313,529 | ||
363 | CVS Health Corp. | 34,619 | ||
930 | Quest Diagnostics, Inc. | 114,102 | ||
462,250 | ||||
Hotels, Restaurants & Leisure – 2.7% | ||||
1,366 | Darden Restaurants, Inc. | 172,553 | ||
354 | McDonald’s Corp. | 81,682 | ||
1,307 | Starbucks Corp. | 110,128 | ||
660 | Yum! Brands, Inc. | 70,184 | ||
434,547 | ||||
Household Durables – 1.0% | ||||
1,128 | Garmin Ltd. | 90,590 | ||
997 | Lennar Corp., Class A | 74,326 | ||
164,916 | ||||
Household Products – 0.9% | ||||
347 | Clorox (The) Co. | 44,552 | ||
421 | Colgate-Palmolive Co. | 29,575 | ||
374 | Kimberly-Clark Corp. | 42,090 | ||
253 | Procter & Gamble (The) Co. | 31,941 | ||
148,158 | ||||
Independent Power & Renewable Electricity Producers – 0.1% | ||||
1,049 | AES (The) Corp. | 23,707 | ||
Industrial Conglomerates – 1.1% | ||||
1,057 | 3M Co. | 116,798 | ||
382 | Honeywell International, Inc. | 63,783 | ||
180,581 | ||||
Insurance – 2.5% | ||||
666 | Aflac, Inc. | 37,429 | ||
289 | Allstate (The) Corp. | 35,989 | ||
684 | American International Group, Inc. | 32,476 | ||
261 | Cincinnati Financial Corp. | 23,378 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Insurance (Continued) | ||||
1,759 | Fidelity National Financial, Inc. | $63,676 | ||
491 | Hartford Financial Services Group (The), Inc. | 30,412 | ||
688 | MetLife, Inc. | 41,817 | ||
799 | Principal Financial Group, Inc. | 57,648 | ||
717 | Prudential Financial, Inc. | 61,504 | ||
174 | Travelers (The) Cos., Inc. | 26,657 | ||
410,986 | ||||
Internet & Direct Marketing Retail – 0.4% | ||||
1,830 | eBay, Inc. | 67,362 | ||
IT Services – 3.6% | ||||
273 | Automatic Data Processing, Inc. | 61,750 | ||
176 | Broadridge Financial Solutions, Inc. | 25,400 | ||
610 | Fidelity National Information Services, Inc. | 46,098 | ||
3,254 | International Business Machines Corp. | 386,608 | ||
636 | Paychex, Inc. | 71,365 | ||
591,221 | ||||
Machinery – 2.2% | ||||
414 | Caterpillar, Inc. | 67,929 | ||
461 | Cummins, Inc. | 93,818 | ||
438 | Illinois Tool Works, Inc. | 79,125 | ||
217 | Parker-Hannifin Corp. | 52,581 | ||
856 | Stanley Black & Decker, Inc. | 64,380 | ||
357,833 | ||||
Media – 3.1% | ||||
1,937 | Comcast Corp., Class A | 56,812 | ||
5,871 | Interpublic Group of (The) Cos., Inc. | 150,298 | ||
2,749 | Omnicom Group, Inc. | 173,434 | ||
6,261 | Paramount Global, Class B | 119,210 | ||
499,754 | ||||
Metals & Mining – 0.2% | ||||
394 | Newmont Corp. | 16,560 | ||
111 | Nucor Corp. | 11,876 | ||
28,436 | ||||
Multiline Retail – 0.7% | ||||
717 | Target Corp. | 106,396 | ||
Multi-Utilities – 1.1% | ||||
210 | Ameren Corp. | 16,915 | ||
575 | CenterPoint Energy, Inc. | 16,203 | ||
295 | CMS Energy Corp. | 17,181 | ||
260 | Consolidated Edison, Inc. | 22,298 | ||
306 | Dominion Energy, Inc. | 21,148 | ||
163 | DTE Energy Co. | 18,753 |
Shares | Description | Value | ||
Multi-Utilities (Continued) | ||||
394 | Public Service Enterprise Group, Inc. | $22,155 | ||
148 | Sempra Energy | 22,191 | ||
208 | WEC Energy Group, Inc. | 18,601 | ||
175,445 | ||||
Oil, Gas & Consumable Fuels – 4.7% | ||||
326 | Chevron Corp. | 46,836 | ||
278 | ConocoPhillips | 28,451 | ||
1,759 | Coterra Energy, Inc. | 45,945 | ||
1,312 | Devon Energy Corp. | 78,891 | ||
395 | Diamondback Energy, Inc. | 47,582 | ||
239 | EOG Resources, Inc. | 26,703 | ||
592 | Exxon Mobil Corp. | 51,688 | ||
4,793 | Kinder Morgan, Inc. | 79,755 | ||
425 | Marathon Petroleum Corp. | 42,215 | ||
1,503 | ONEOK, Inc. | 77,014 | ||
683 | Phillips 66 | 55,132 | ||
307 | Pioneer Natural Resources Co. | 66,475 | ||
430 | Valero Energy Corp. | 45,945 | ||
2,122 | Williams (The) Cos., Inc. | 60,753 | ||
753,385 | ||||
Pharmaceuticals – 5.7% | ||||
2,862 | Bristol-Myers Squibb Co. | 203,460 | ||
893 | Johnson & Johnson | 145,880 | ||
2,136 | Merck & Co., Inc. | 183,952 | ||
3,752 | Pfizer, Inc. | 164,188 | ||
27,391 | Viatris, Inc. | 233,371 | ||
930,851 | ||||
Road & Rail – 0.7% | ||||
269 | Norfolk Southern Corp. | 56,396 | ||
310 | Union Pacific Corp. | 60,394 | ||
116,790 | ||||
Semiconductors & Semiconductor Equipment – 11.3% | ||||
1,357 | Analog Devices, Inc. | 189,084 | ||
673 | Broadcom, Inc. | 298,819 | ||
10,166 | Intel Corp. | 261,978 | ||
2,899 | Microchip Technology, Inc. | 176,926 | ||
1,283 | NXP Semiconductors N.V. | 189,255 | ||
1,707 | QUALCOMM, Inc. | 192,857 | ||
2,606 | Skyworks Solutions, Inc. | 222,214 | ||
1,890 | Texas Instruments, Inc. | 292,534 | ||
1,823,667 | ||||
Software – 2.3% | ||||
10,352 | NortonLifeLock, Inc. | 208,490 | ||
2,618 | Oracle Corp. | 159,881 | ||
368,371 |
Shares | Description | Value | ||
COMMON STOCKS (Continued) | ||||
Specialty Retail – 4.7% | ||||
663 | Advance Auto Parts, Inc. | $103,653 | ||
3,837 | Bath & Body Works, Inc. | 125,086 | ||
2,954 | Best Buy Co., Inc. | 187,106 | ||
375 | Home Depot (The), Inc. | 103,478 | ||
417 | Lowe’s Cos., Inc. | 78,317 | ||
958 | Ross Stores, Inc. | 80,731 | ||
1,369 | TJX (The) Cos., Inc. | 85,042 | ||
763,413 | ||||
Technology Hardware, Storage & Peripherals – 6.9% | ||||
27,255 | Hewlett Packard Enterprise Co. | 326,515 | ||
8,769 | HP, Inc. | 218,524 | ||
4,691 | NetApp, Inc. | 290,138 | ||
5,419 | Seagate Technology Holdings PLC | 288,453 | ||
1,123,630 | ||||
Textiles, Apparel & Luxury Goods – 0.7% | ||||
4,052 | VF Corp. | 121,195 | ||
Tobacco – 1.2% | ||||
3,064 | Altria Group, Inc. | 123,724 | ||
762 | Philip Morris International, Inc. | 63,254 | ||
186,978 | ||||
Trading Companies & Distributors – 0.1% | ||||
302 | Fastenal Co. | 13,904 | ||
Total Common Stocks | 15,648,639 | |||
(Cost $18,598,979) | ||||
REAL ESTATE INVESTMENT TRUSTS – 2.9% | ||||
Equity Real Estate Investment Trusts – 2.9% | ||||
127 | Alexandria Real Estate Equities, Inc. | 17,804 | ||
49 | American Tower Corp. | 10,520 | ||
98 | AvalonBay Communities, Inc. | 18,051 | ||
287 | Boston Properties, Inc. | 21,516 | ||
114 | Camden Property Trust | 13,617 | ||
118 | Crown Castle, Inc. | 17,057 | ||
164 | Digital Realty Trust, Inc. | 16,265 | ||
16 | Equinix, Inc. | 9,101 | ||
181 | Equity LifeStyle Properties, Inc. | 11,374 | ||
273 | Equity Residential | 18,351 | ||
73 | Essex Property Trust, Inc. | 17,683 | ||
110 | Extra Space Storage, Inc. | 18,998 | ||
1,038 | Healthpeak Properties, Inc. | 23,791 | ||
358 | Invitation Homes, Inc. | 12,090 | ||
1,085 | Kimco Realty Corp. | 19,975 | ||
80 | Mid-America Apartment Communities, Inc. | 12,406 | ||
119 | Prologis, Inc. | 12,090 |
Shares | Description | Value | ||
Equity Real Estate Investment Trusts (Continued) | ||||
49 | Public Storage | $14,348 | ||
360 | Realty Income Corp. | 20,952 | ||
509 | Simon Property Group, Inc. | 45,683 | ||
78 | Sun Communities, Inc. | 10,556 | ||
402 | UDR, Inc. | 16,767 | ||
395 | Ventas, Inc. | 15,867 | ||
942 | VICI Properties, Inc. | 28,119 | ||
209 | Welltower, Inc. | 13,443 | ||
371 | Weyerhaeuser Co. | 10,596 | ||
357 | WP Carey, Inc. | 24,919 | ||
Total Real Estate Investment Trusts | 471,939 | |||
(Cost $566,588) | ||||
Total Investments – 99.6% | 16,120,578 | |||
(Cost $19,165,567) | ||||
Net Other Assets and Liabilities – 0.4% | 56,649 | |||
Net Assets – 100.0% | $16,177,227 |
Total Value at 9/30/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks* | $ 15,648,639 | $ 15,648,639 | $ — | $ — |
Real Estate Investment Trusts* | 471,939 | 471,939 | — | — |
Total Investments | $ 16,120,578 | $ 16,120,578 | $— | $— |
* | See Portfolio of Investments for industry breakout. |
Developed International Equity Select ETF (RNDM) | Emerging Markets Equity Select ETF (RNEM) | Large Cap US Equity Select ETF (RNLC) | |||
ASSETS: | |||||
Investments, at value | $ 15,844,505 | $ 7,906,148 | $ 17,365,307 | ||
Cash | 51,962 | 4,905 | 17,123 | ||
Foreign currency | 14,846 | 10,036 | — | ||
Receivables: | |||||
Dividends | 51,244 | 14,679 | 25,075 | ||
Dividend reclaims | 43,990 | 558 | 2,755 | ||
Securities lending income | 10 | — | — | ||
Total Assets | 16,006,557 | 7,936,326 | 17,410,260 | ||
LIABILITIES: | |||||
Due to custodian | — | — | — | ||
Payables: | |||||
Investment advisory fees | 7,607 | 5,274 | 10,026 | ||
Collateral for securities on loan | 33,624 | — | — | ||
Deferred foreign capital gains tax | — | 6,357 | — | ||
Total Liabilities | 41,231 | 11,631 | 10,026 | ||
NET ASSETS | $15,965,326 | $7,924,695 | $17,400,234 | ||
NET ASSETS consist of: | |||||
Paid-in capital | $ 22,564,108 | $ 10,563,616 | $ 20,926,391 | ||
Par value | 4,000 | 2,000 | 6,500 | ||
Accumulated distributable earnings (loss) | (6,602,782) | (2,640,921) | (3,532,657) | ||
NET ASSETS | $15,965,326 | $7,924,695 | $17,400,234 | ||
NET ASSET VALUE, per share | $39.91 | $39.62 | $26.77 | ||
Number of shares outstanding (unlimited number of shares authorized, par value $0.01 per share) | 400,002 | 200,002 | 650,002 | ||
Investments, at cost | $19,850,500 | $9,239,352 | $19,664,995 | ||
Foreign currency, at cost (proceeds) | $14,888 | $10,034 | $— | ||
Securities on loan, at value | $31,961 | $— | $— |
Mid Cap US Equity Select ETF (RNMC) | Small Cap US Equity Select ETF (RNSC) | US Equity Dividend Select ETF (RNDV) | ||
$ 15,617,482 | $ 21,887,006 | $ 16,120,578 | ||
— | 21,943 | 23,652 | ||
— | — | — | ||
23,514 | 39,576 | 37,955 | ||
452 | — | 2,301 | ||
— | 247 | — | ||
15,641,448 | 21,948,772 | 16,184,486 | ||
4,180 | — | — | ||
8,380 | 11,829 | 7,259 | ||
— | 51,789 | — | ||
— | — | — | ||
12,560 | 63,618 | 7,259 | ||
$ 15,628,888 | $ 21,885,154 | $ 16,177,227 | ||
$ 19,936,860 | $ 27,898,434 | $ 20,464,113 | ||
6,500 | 9,500 | 6,500 | ||
(4,314,472) | (6,022,780) | (4,293,386) | ||
$ 15,628,888 | $ 21,885,154 | $ 16,177,227 | ||
$24.04 | $23.04 | $24.89 | ||
650,002 | 950,002 | 650,002 | ||
$18,320,787 | $26,733,049 | $19,165,567 | ||
$— | $— | $— | ||
$— | $49,651 | $— |
Developed International Equity Select ETF (RNDM) | Emerging Markets Equity Select ETF (RNEM) | Large Cap US Equity Select ETF (RNLC) | ||||
INVESTMENT INCOME: | ||||||
Dividends | $ 457,864 | $ 332,989 | $ 231,421 | |||
Interest | 301 | 231 | 132 | |||
Securities lending income (net of fees) | 96 | — | — | |||
Foreign withholding tax | (43,715) | (49,616) | (338) | |||
Other | 84 | 4 | 1 | |||
Total investment income | 414,630 | 283,608 | 231,216 | |||
EXPENSES: | ||||||
Investment advisory fees | 61,597 | 31,654 | 62,879 | |||
Total expenses | 61,597 | 31,654 | 62,879 | |||
NET INVESTMENT INCOME (LOSS) | 353,033 | 251,954 | 168,337 | |||
NET REALIZED AND UNREALIZED GAIN (LOSS): | ||||||
Net realized gain (loss) on: | ||||||
Investments | (307,278) | (146,206) | (124,715) | |||
In-kind redemptions | 128,841 | — | 540,905 | |||
Foreign currency transactions | (16,092) | 4,127 | — | |||
Foreign capital gains tax | — | (5,295) | — | |||
Net realized gain (loss) | (194,529) | (147,374) | 416,190 | |||
Net change in unrealized appreciation (depreciation) on: | ||||||
Investments | (4,506,355) | (1,548,052) | (4,876,661) | |||
Foreign currency translation | (5,740) | (737) | — | |||
Deferred foreign capital gains tax | — | 15,204 | — | |||
Net change in unrealized appreciation (depreciation) | (4,512,095) | (1,533,585) | (4,876,661) | |||
NET REALIZED AND UNREALIZED GAIN (LOSS) | (4,706,624) | (1,680,959) | (4,460,471) | |||
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $(4,353,591) | $(1,429,005) | $(4,292,134) |
Mid Cap US Equity Select ETF (RNMC) | Small Cap US Equity Select ETF (RNSC) | US Equity Dividend Select ETF (RNDV) | |||
$201,041 | $372,522 | $305,732 | |||
124 | 241 | 145 | |||
— | 3,590 | — | |||
(47) | (158) | (308) | |||
42 | 15 | 9 | |||
201,160 | 376,210 | 305,578 | |||
51,670 | 70,234 | 46,219 | |||
51,670 | 70,234 | 46,219 | |||
149,490 | 305,976 | 259,359 | |||
(457,151) | (834,389) | (78,388) | |||
833,647 | 913,871 | — | |||
— | — | — | |||
— | — | — | |||
376,496 | 79,482 | (78,388) | |||
(3,725,875) | (5,616,269) | (3,561,143) | |||
— | — | — | |||
— | — | — | |||
(3,725,875) | (5,616,269) | (3,561,143) | |||
(3,349,379) | (5,536,787) | (3,639,531) | |||
$(3,199,889) | $(5,230,811) | $(3,380,172) |
Developed International Equity Select ETF (RNDM) | Emerging Markets Equity Select ETF (RNEM) | Large Cap US Equity Select ETF (RNLC) | |||||||||
Six Months Ended 9/30/2022 (Unaudited) | Year Ended 3/31/2022 | Six Months Ended 9/30/2022 (Unaudited) | Year Ended 3/31/2022 | Six Months Ended 9/30/2022 (Unaudited) | Year Ended 3/31/2022 | ||||||
OPERATIONS: | |||||||||||
Net investment income (loss) | $ 353,033 | $ 612,626 | $ 251,954 | $ 242,593 | $ 168,337 | $ 322,827 | |||||
Net realized gain (loss) | (194,529) | 2,370,496 | (147,374) | 364,099 | 416,190 | 6,041,882 | |||||
Net change in unrealized appreciation (depreciation) | (4,512,095) | (2,937,328) | (1,533,585) | (464,909) | (4,876,661) | (3,315,959) | |||||
Net increase (decrease) in net assets resulting from operations | (4,353,591) | 45,794 | (1,429,005) | 141,783 | (4,292,134) | 3,048,750 | |||||
DISTRIBUTIONS TO SHAREHOLDERS FROM: | |||||||||||
Investment operations | (391,202) | (703,193) | (243,903) | (180,487) | (156,030) | (328,071) | |||||
Return of capital | — | — | — | (49,961) | — | — | |||||
Total distributions to shareholders | (391,202) | (703,193) | (243,903) | (230,448) | (156,030) | (328,071) | |||||
SHAREHOLDER TRANSACTIONS: | |||||||||||
Proceeds from shares sold | 4,346,583 | 5,595,303 | 2,305,295 | — | 3,125,444 | 11,195,391 | |||||
Cost of shares redeemed | (7,143,304) | (5,356,575) | — | — | (2,954,881) | (17,927,661) | |||||
Net increase (decrease) in net assets resulting from shareholder transactions | (2,796,721) | 238,728 | 2,305,295 | — | 170,563 | (6,732,270) | |||||
Total increase (decrease) in net assets | (7,541,514) | (418,671) | 632,387 | (88,665) | (4,277,601) | (4,011,591) | |||||
NET ASSETS: | |||||||||||
Beginning of period | 23,506,840 | 23,925,511 | 7,292,308 | 7,380,973 | 21,677,835 | 25,689,426 | |||||
End of period | $15,965,326 | $23,506,840 | $7,924,695 | $7,292,308 | $17,400,234 | $21,677,835 | |||||
CHANGES IN SHARES OUTSTANDING: | |||||||||||
Shares outstanding, beginning of period | 450,002 | 450,002 | 150,002 | 150,002 | 650,002 | 850,002 | |||||
Shares sold | 100,000 | 100,000 | 50,000 | — | 100,000 | 350,000 | |||||
Shares redeemed | (150,000) | (100,000) | — | — | (100,000) | (550,000) | |||||
Shares outstanding, end of period | 400,002 | 450,002 | 200,002 | 150,002 | 650,002 | 650,002 |
Mid Cap US Equity Select ETF (RNMC) | Small Cap US Equity Select ETF (RNSC) | US Equity Dividend Select ETF (RNDV) | ||||||||
Six Months Ended 9/30/2022 (Unaudited) | Year Ended 3/31/2022 | Six Months Ended 9/30/2022 (Unaudited) | Year Ended 3/31/2022 | Six Months Ended 9/30/2022 (Unaudited) | Year Ended 3/31/2022 | |||||
$ 149,490 | $ 241,500 | $ 305,976 | $ 274,780 | $ 259,359 | $ 374,454 | |||||
376,496 | 3,693,023 | 79,482 | 2,198,102 | (78,388) | 1,755,695 | |||||
(3,725,875) | (2,661,207) | (5,616,269) | (1,832,012) | (3,561,143) | (644,056) | |||||
(3,199,889) | 1,273,316 | (5,230,811) | 640,870 | (3,380,172) | 1,486,093 | |||||
(127,790) | (244,191) | (236,185) | (261,631) | (241,541) | (359,126) | |||||
— | — | — | — | — | — | |||||
(127,790) | (244,191) | (236,185) | (261,631) | (241,541) | (359,126) | |||||
5,684,607 | 13,029,289 | 9,895,658 | 18,629,899 | 1,508,047 | 19,135,641 | |||||
(2,898,643) | (14,535,290) | (4,268,854) | (7,148,164) | — | (10,393,637) | |||||
2,785,964 | (1,506,001) | 5,626,804 | 11,481,735 | 1,508,047 | 8,742,004 | |||||
(541,715) | (476,876) | 159,808 | 11,860,974 | (2,113,666) | 9,868,971 | |||||
16,170,603 | 16,647,479 | 21,725,346 | 9,864,372 | 18,290,893 | 8,421,922 | |||||
$15,628,888 | $16,170,603 | $21,885,154 | $21,725,346 | $16,177,227 | $18,290,893 | |||||
550,002 | 600,002 | 750,002 | 350,002 | 600,002 | 300,002 | |||||
200,000 | 450,000 | 350,000 | 650,000 | 50,000 | 650,000 | |||||
(100,000) | (500,000) | (150,000) | (250,000) | — | (350,000) | |||||
650,002 | 550,002 | 950,002 | 750,002 | 650,002 | 600,002 |
Six Months Ended 9/30/2022 (Unaudited) | Year Ended | Period Ended 3/31/2018 (a) | ||||||||||
3/31/2022 | 3/31/2021 | 3/31/2020 | 3/31/2019 | |||||||||
Net asset value, beginning of period | $ 52.24 | $ 53.17 | $ 39.88 | $ 49.45 | $ 51.38 | $ 49.73 | ||||||
Income from investment operations: | ||||||||||||
Net investment income (loss) | 0.90 | 1.24 | 0.90 | 1.11 | 1.07 | 0.62 | ||||||
Net realized and unrealized gain (loss) | (12.25) | (0.73) | 13.01 | (9.02) | (1.90) | 1.48 | ||||||
Total from investment operations | (11.35) | 0.51 | 13.91 | (7.91) | (0.83) | 2.10 | ||||||
Distributions paid to shareholders from: | ||||||||||||
Net investment income | (0.98) | (1.44) | (0.62) | (1.66) | (1.10) | (0.45) | ||||||
Net asset value, end of period | $39.91 | $52.24 | $53.17 | $39.88 | $49.45 | $51.38 | ||||||
Total return (b) | (21.91)% | 0.82% | 34.93% | (16.64)% | (1.71)% | 4.23% | ||||||
Ratios to average net assets/supplemental data: | ||||||||||||
Net assets, end of period (in 000’s) | $ 15,965 | $ 23,507 | $ 23,926 | $ 23,929 | $ 24,727 | $ 12,846 | ||||||
Ratio of total expenses to average net assets | 0.65% (c) | 0.65% | 0.65% | 0.65% | 0.65% | 0.66% (c) (d) | ||||||
Ratio of net investment income (loss) to average net assets | 3.73% (c) | 2.26% | 1.86% | 2.24% | 2.32% | 1.74% (c) | ||||||
Portfolio turnover rate (e) | 46% | 69% | 89% | 62% | 52% | 21% |
(a) | Inception date is June 20, 2017, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Includes excise tax. If this excise tax was not included, the expense ratio would have been 0.65%. |
(e) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Six Months Ended 9/30/2022 (Unaudited) | Year Ended | Period Ended 3/31/2018 (a) | ||||||||||
3/31/2022 | 3/31/2021 | 3/31/2020 | 3/31/2019 | |||||||||
Net asset value, beginning of period | $ 48.61 | $ 49.21 | $ 37.80 | $ 50.89 | $ 54.94 | $ 49.71 | ||||||
Income from investment operations: | ||||||||||||
Net investment income (loss) | 1.30 | 1.61 | 1.15 | 1.50 | 1.10 | 0.70 | ||||||
Net realized and unrealized gain (loss) | (9.07) | (0.67) | 11.64 | (13.22) | (3.62) | 5.78 | ||||||
Total from investment operations | (7.77) | 0.94 | 12.79 | (11.72) | (2.52) | 6.48 | ||||||
Distributions paid to shareholders from: | ||||||||||||
Net investment income | (1.22) | (1.20) | (1.38) | (1.37) | (1.19) | (0.67) | ||||||
Net realized gain | — | — | — | — | (0.34) | (0.58) | ||||||
Return of capital | — | (0.34) | — | — | — | — | ||||||
Total distributions | (1.22) | (1.54) | (1.38) | (1.37) | (1.53) | (1.25) | ||||||
Net asset value, end of period | $39.62 | $48.61 | $49.21 | $37.80 | $50.89 | $54.94 | ||||||
Total return (b) | (16.02)% | 1.91% | 34.44% | (23.66)% | (4.48)% | 13.15% | ||||||
Ratios to average net assets/supplemental data: | ||||||||||||
Net assets, end of period (in 000’s) | $ 7,925 | $ 7,292 | $ 7,381 | $ 7,561 | $ 12,723 | $ 5,494 | ||||||
Ratio of total expenses to average net assets | 0.75% (c) | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% (c) | ||||||
Ratio of net investment income (loss) to average net assets | 5.97% (c) | 3.30% | 2.94% | 2.83% | 2.04% | 1.75% (c) | ||||||
Portfolio turnover rate (d) | 35% | 72% | 75% | 82% | 69% | 111% |
(a) | Inception date is June 20, 2017, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Six Months Ended 9/30/2022 (Unaudited) | Year Ended | Period Ended 3/31/2018 (a) | ||||||||||
3/31/2022 | 3/31/2021 | 3/31/2020 | 3/31/2019 | |||||||||
Net asset value, beginning of period | $ 33.35 | $ 30.22 | $ 18.85 | $ 22.12 | $ 21.54 | $ 19.83 | ||||||
Income from investment operations: | ||||||||||||
Net investment income (loss) | 0.24 | 0.38 | 0.34 | 0.46 | 0.38 | 0.21 | ||||||
Net realized and unrealized gain (loss) | (6.60) | 3.13 | 11.39 | (3.27) | 0.56 | 1.68 | ||||||
Total from investment operations | (6.36) | 3.51 | 11.73 | (2.81) | 0.94 | 1.89 | ||||||
Distributions paid to shareholders from: | ||||||||||||
Net investment income | (0.22) | (0.38) | (0.36) | (0.46) | (0.36) | (0.18) | ||||||
Net asset value, end of period | $26.77 | $33.35 | $30.22 | $18.85 | $22.12 | $21.54 | ||||||
Total return (b) | (19.08)% | 11.62% | 62.65% | (12.98)% | 4.45% | 9.54% | ||||||
Ratios to average net assets/supplemental data: | ||||||||||||
Net assets, end of period (in 000’s) | $ 17,400 | $ 21,678 | $ 25,689 | $ 15,081 | $ 18,800 | $ 21,536 | ||||||
Ratio of total expenses to average net assets | 0.60% (c) | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% (c) | ||||||
Ratio of net investment income (loss) to average net assets | 1.61% (c) | 1.13% | 1.41% | 2.03% | 1.72% | 1.71% (c) | ||||||
Portfolio turnover rate (d) | 16% | 21% | 34% | 24% | 28% | 11% |
(a) | Inception date is June 20, 2017, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Six Months Ended 9/30/2022 (Unaudited) | Year Ended | Period Ended 3/31/2018 (a) | ||||||||||
3/31/2022 | 3/31/2021 | 3/31/2020 | 3/31/2019 | |||||||||
Net asset value, beginning of period | $ 29.40 | $ 27.75 | $ 15.85 | $ 21.31 | $ 21.18 | $ 19.78 | ||||||
Income from investment operations: | ||||||||||||
Net investment income (loss) | 0.23 | 0.35 | 0.33 | 0.39 | 0.32 | 0.23 | ||||||
Net realized and unrealized gain (loss) | (5.39) | 1.65 | 11.90 | (5.45) | 0.12 | 1.36 | ||||||
Total from investment operations | (5.16) | 2.00 | 12.23 | (5.06) | 0.44 | 1.59 | ||||||
Distributions paid to shareholders from: | ||||||||||||
Net investment income | (0.20) | (0.35) | (0.33) | (0.40) | (0.31) | (0.19) | ||||||
Net asset value, end of period | $24.04 | $29.40 | $27.75 | $15.85 | $21.31 | $21.18 | ||||||
Total return (b) | (17.58)% | 7.26% | 77.60% | (24.23)% | 2.16% | 8.03% | ||||||
Ratios to average net assets/supplemental data: | ||||||||||||
Net assets, end of period (in 000’s) | $ 15,629 | $ 16,171 | $ 16,647 | $ 11,096 | $ 13,853 | $ 6,355 | ||||||
Ratio of total expenses to average net assets | 0.60% (c) | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% (c) | ||||||
Ratio of net investment income (loss) to average net assets | 1.74% (c) | 1.22% | 1.46% | 1.76% | 1.70% | 1.71% (c) | ||||||
Portfolio turnover rate (d) | 24% | 43% | 60% | 43% | 42% | 40% |
(a) | Inception date is June 20, 2017, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Six Months Ended 9/30/2022 (Unaudited) | Year Ended | Period Ended 3/31/2018 (a) | ||||||||||
3/31/2022 | 3/31/2021 | 3/31/2020 | 3/31/2019 | |||||||||
Net asset value, beginning of period | $ 28.97 | $ 28.18 | $ 14.87 | $ 20.84 | $ 20.88 | $ 19.73 | ||||||
Income from investment operations: | ||||||||||||
Net investment income (loss) | 0.32 | 0.46 | 0.28 | 0.36 | 0.46 | 0.34 | ||||||
Net realized and unrealized gain (loss) | (6.00) | 0.78 | 13.34 | (5.98) | (0.09) | 1.10 | ||||||
Total from investment operations | (5.68) | 1.24 | 13.62 | (5.62) | 0.37 | 1.44 | ||||||
Distributions paid to shareholders from: | ||||||||||||
Net investment income | (0.25) | (0.45) | (0.31) | (0.35) | (0.41) | (0.29) | ||||||
Net asset value, end of period | $23.04 | $28.97 | $28.18 | $14.87 | $20.84 | $20.88 | ||||||
Total return (b) | (19.62)% | 4.39% | 92.49% | (27.51)% | 1.78% | 7.26% | ||||||
Ratios to average net assets/supplemental data: | ||||||||||||
Net assets, end of period (in 000’s) | $ 21,885 | $ 21,725 | $ 9,864 | $ 5,946 | $ 5,210 | $ 4,175 | ||||||
Ratio of total expenses to average net assets | 0.60% (c) | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% (c) | ||||||
Ratio of net investment income (loss) to average net assets | 2.61% (c) | 1.79% | 1.37% | 1.97% | 2.25% | 2.22% (c) | ||||||
Portfolio turnover rate (d) | 33% | 49% | 71% | 52% | 52% | 49% |
(a) | Inception date is June 20, 2017, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Six Months Ended 9/30/2022 (Unaudited) | Year Ended | Period Ended 3/31/2018 (a) | ||||||||||
3/31/2022 | 3/31/2021 | 3/31/2020 | 3/31/2019 | |||||||||
Net asset value, beginning of period | $ 30.48 | $ 28.07 | $ 17.50 | $ 21.73 | $ 21.09 | $ 19.85 | ||||||
Income from investment operations: | ||||||||||||
Net investment income (loss) | 0.39 | 0.64 | 0.58 | 0.73 | 0.78 | 0.41 | ||||||
Net realized and unrealized gain (loss) | (5.61) | 2.40 | 10.61 | (4.24) | 0.58 | 1.18 | ||||||
Total from investment operations | (5.22) | 3.04 | 11.19 | (3.51) | 1.36 | 1.59 | ||||||
Distributions paid to shareholders from: | ||||||||||||
Net investment income | (0.37) | (0.63) | (0.62) | (0.72) | (0.72) | (0.35) | ||||||
Net asset value, end of period | $24.89 | $30.48 | $28.07 | $17.50 | $21.73 | $21.09 | ||||||
Total return (b) | (17.16)% | 10.86% | 64.82% | (16.81)% | 6.64% | 8.00% | ||||||
Ratios to average net assets/supplemental data: | ||||||||||||
Net assets, end of period (in 000’s) | $ 16,177 | $ 18,291 | $ 8,422 | $ 4,375 | $ 5,434 | $ 12,654 | ||||||
Ratio of total expenses to average net assets | 0.50% (c) | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% (c) (d) | ||||||
Ratio of net investment income (loss) to average net assets | 2.81% (c) | 2.33% | 2.65% | 3.23% | 2.98% | 3.32% (c) | ||||||
Portfolio turnover rate (e) | 28% | 41% | 89% | 78% | 98% | 37% |
(a) | Inception date is June 20, 2017, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The returns presented do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(c) | Annualized. |
(d) | Includes excise tax. |
(e) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
Fund | Index |
Developed International Equity Select ETF | Nasdaq Riskalyze Developed Markets IndexTM |
Emerging Markets Equity Select ETF | Nasdaq Riskalyze Emerging Markets IndexTM |
Large Cap US Equity Select ETF | Nasdaq Riskalyze US Large Cap IndexTM |
Mid Cap US Equity Select ETF | Nasdaq Riskalyze US Mid Cap IndexTM |
Small Cap US Equity Select ETF | Nasdaq Riskalyze US Small Cap IndexTM |
US Equity Dividend Select ETF | Nasdaq Riskalyze US Large Cap Select Dividend IndexTM |
1) | the last sale price on the exchange on which they are principally traded or, for Nasdaq and AIM securities, the official closing price; |
2) | the type of security; |
3) | the size of the holding; |
4) | the initial cost of the security; |
5) | transactions in comparable securities; |
6) | price quotes from dealers and/or third-party pricing services; |
7) | relationships among various securities; |
8) | information obtained by contacting the issuer, analysts, or the appropriate stock exchange; |
9) | an analysis of the issuer’s financial statements; |
10) | the existence of merger proposals or tender offers that might affect the value of the security; and |
11) | other relevant factors. |
1) | the value of similar foreign securities traded on other foreign markets; |
2) | ADR trading of similar securities; |
3) | closed-end fund or exchange-traded fund trading of similar securities; |
4) | foreign currency exchange activity; |
5) | the trading prices of financial products that are tied to baskets of foreign securities; |
6) | factors relating to the event that precipitated the pricing problem; |
7) | whether the event is likely to recur; |
8) | whether the effects of the event are isolated or whether they affect entire markets, countries or regions; and |
9) | other relevant factors. |
• | Level 1 – Level 1 inputs are quoted prices in active markets for identical investments. An active market is a market in which transactions for the investment occur with sufficient frequency and volume to provide pricing information on an ongoing basis. |
• | Level 2 – Level 2 inputs are observable inputs, either directly or indirectly, and include the following: |
o | Quoted prices for similar investments in active markets. |
o | Quoted prices for identical or similar investments in markets that are non-active. A non-active market is a market where there are few transactions for the investment, the prices are not current, or price quotations vary substantially either over time or among market makers, or in which little information is released publicly. |
o | Inputs other than quoted prices that are observable for the investment (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates). |
o | Inputs that are derived principally from or corroborated by observable market data by correlation or other means. |
• | Level 3 – Level 3 inputs are unobservable inputs. Unobservable inputs may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment. |
Distributions paid from Ordinary Income | Distributions paid from Capital Gains | Distributions paid from Return of Capital | |||
Developed International Equity Select ETF | $ 703,193 | $ — | $ — | ||
Emerging Markets Equity Select ETF | 180,487 | — | 49,961 | ||
Large Cap US Equity Select ETF | 328,071 | — | — | ||
Mid Cap US Equity Select ETF | 244,191 | — | — | ||
Small Cap US Equity Select ETF | 261,631 | — | — | ||
US Equity Dividend Select ETF | 359,126 | — | — |
Undistributed Ordinary Income | Accumulated Capital and Other Gain (Loss) | Net Unrealized Appreciation (Depreciation) | |||
Developed International Equity Select ETF | $ 76,952 | $ (2,360,196) | $ 425,255 | ||
Emerging Markets Equity Select ETF | — | (1,097,564) | 129,551 | ||
Large Cap US Equity Select ETF | 12,444 | (1,515,163) | 2,418,226 | ||
Mid Cap US Equity Select ETF | 12,795 | (1,848,227) | 848,639 | ||
Small Cap US Equity Select ETF | 16,538 | (1,170,060) | 597,738 | ||
US Equity Dividend Select ETF | 24,112 | (1,095,016) | 399,231 |
Non-Expiring Capital Loss Carryforward | |
Developed International Equity Select ETF | $ 2,360,196 |
Emerging Markets Equity Select ETF | 1,095,270 |
Large Cap US Equity Select ETF | 1,515,163 |
Mid Cap US Equity Select ETF | 1,848,227 |
Small Cap US Equity Select ETF | 1,170,060 |
US Equity Dividend Select ETF | 1,095,016 |
Ordinary Losses | |
Developed International Equity Select ETF | $ — |
Emerging Markets Equity Select ETF | 2,294 |
Large Cap US Equity Select ETF | — |
Mid Cap US Equity Select ETF | — |
Small Cap US Equity Select ETF | — |
US Equity Dividend Select ETF | — |
Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation (Depreciation) | ||||
Developed International Equity Select ETF | $ 19,850,500 | $ 130,489 | $ (4,136,484) | $ (4,005,995) | |||
Emerging Markets Equity Select ETF | 9,239,352 | 315,864 | (1,649,068) | (1,333,204) | |||
Large Cap US Equity Select ETF | 19,664,995 | 763,727 | (3,063,415) | (2,299,688) | |||
Mid Cap US Equity Select ETF | 18,320,787 | 473,640 | (3,176,945) | (2,703,305) | |||
Small Cap US Equity Select ETF | 26,733,049 | 291,751 | (5,137,794) | (4,846,043) | |||
US Equity Dividend Select ETF | 19,165,567 | 373,375 | (3,418,364) | (3,044,989) |
Rate | |
Developed International Equity Select ETF | 0.65% |
Emerging Markets Equity Select ETF | 0.75% |
Large Cap US Equity Select ETF | 0.60% |
Mid Cap US Equity Select ETF | 0.60% |
Small Cap US Equity Select ETF | 0.60% |
US Equity Dividend Select ETF | 0.50% |
Purchases | Sales | ||
Developed International Equity Select ETF | $ 8,632,235 | $ 8,674,260 | |
Emerging Markets Equity Select ETF | 4,741,584 | 2,851,421 | |
Large Cap US Equity Select ETF | 3,303,201 | 3,304,511 | |
Mid Cap US Equity Select ETF | 4,091,411 | 4,034,669 | |
Small Cap US Equity Select ETF | 7,506,021 | 7,403,890 | |
US Equity Dividend Select ETF | 5,161,985 | 5,151,722 | |
Purchases | Sales | ||
Developed International Equity Select ETF | $ 3,977,903 | $ 6,742,374 | |
Emerging Markets Equity Select ETF | 462,996 | — | |
Large Cap US Equity Select ETF | 3,120,346 | 2,947,553 | |
Mid Cap US Equity Select ETF | 5,678,930 | 2,907,493 | |
Small Cap US Equity Select ETF | 9,864,377 | 4,271,299 | |
US Equity Dividend Select ETF | 1,499,875 | — |
NOT FDIC INSURED | NOT BANK GUARANTEED | MAY LOSE VALUE |
FUND ACCOUNTANT &
TRANSFER AGENT
PUBLIC ACCOUNTING FIRM
First Trust Indxx Medical Devices ETF (MDEV)
For the Period Ended
September 30, 2022
1 | |
2 | |
3 | |
5 | |
6 | |
8 | |
9 | |
10 | |
11 | |
12 | |
18 |
Performance | ||||
Average Annual Total Returns | Cumulative Total Returns | |||
6 Months Ended 9/30/22 | 1 Year Ended 9/30/22 | Inception (6/22/21) to 9/30/22 | Inception (6/22/21) to 9/30/22 | |
Fund Performance | ||||
NAV | -27.34% | -36.98% | -28.93% | -35.28% |
Market Price | -27.53% | -37.21% | -29.00% | -35.36% |
Index Performance | ||||
Indxx Global Medical Equipment Index | -27.26% | -36.58% | -28.36% | -34.62% |
MSCI World Health Care Index | -13.49% | -9.79% | -6.67% | -8.42% |
Sector Allocation | % of Total Investments |
Health Care | 100.0% |
Total | 100.0% |
Top Ten Holdings | % of Total Investments |
Olympus Corp. | 2.8% |
Masimo Corp. | 2.7 |
Agilent Technologies, Inc. | 2.5 |
Terumo Corp. | 2.5 |
Novocure Ltd. | 2.5 |
ResMed, Inc. | 2.4 |
Danaher Corp. | 2.4 |
Boston Scientific Corp. | 2.4 |
Waters Corp. | 2.4 |
Insulet Corp. | 2.4 |
Total | 25.0% |
Performance figures assume reinvestment of all distributions and do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. An index is a statistical composite that tracks a specified financial market or sector. Unlike the Fund, the indices do not actually hold a portfolio of securities and therefore do not incur the expenses incurred by the Fund. These expenses negatively impact the performance of the Fund. The Fund’s past performance does not predict future performance.
Beginning Account Value April 1, 2022 | Ending Account Value September 30, 2022 | Annualized Expense Ratio Based on the Six-Month Period | Expenses Paid During the Six-Month Period (a) | |
First Trust Indxx Medical Devices ETF (MDEV) | ||||
Actual | $1,000.00 | $726.60 | 0.70% | $3.03 |
Hypothetical (5% return before expenses) | $1,000.00 | $1,021.56 | 0.70% | $3.55 |
(a) | Expenses are equal to the annualized expense ratios as indicated in the table multiplied by the average account value over the period (April 1, 2022 through September 30, 2022), multiplied by 183/365 (to reflect the six-month period). |
Shares | Description | Value | ||
COMMON STOCKS – 99.6% | ||||
Biotechnology – 1.3% | ||||
658 | Exact Sciences Corp. (a) | $21,378 | ||
Health Care Equipment & Supplies – 76.0% | ||||
366 | Abbott Laboratories | 35,414 | ||
142 | ABIOMED, Inc. (a) | 34,884 | ||
560 | Alcon, Inc. (b) | 32,528 | ||
107 | Align Technology, Inc. (a) | 22,161 | ||
579 | Baxter International, Inc. | 31,185 | ||
165 | Becton Dickinson and Co. | 36,767 | ||
413 | BioMerieux (b) | 32,668 | ||
1,004 | Boston Scientific Corp. (a) | 38,885 | ||
287 | Carl Zeiss Meditec AG (b) | 29,812 | ||
269 | Cochlear Ltd. (b) | 33,414 | ||
283 | Coloplast A.S., Class B (b) | 28,760 | ||
109 | Cooper (The) Cos., Inc. | 28,765 | ||
1,002 | Demant A.S. (a) (b) | 24,771 | ||
939 | DENTSPLY SIRONA, Inc. | 26,621 | ||
352 | DexCom, Inc. (a) | 28,350 | ||
365 | Edwards Lifesciences Corp. (a) | 30,160 | ||
2,724 | Fisher & Paykel Healthcare Corp., Ltd. (b) | 28,234 | ||
594 | Globus Medical, Inc., Class A (a) | 35,385 | ||
568 | Hologic, Inc. (a) | 36,647 | ||
394 | Hoya Corp. (b) | 37,965 | ||
169 | Insulet Corp. (a) | 38,769 | ||
155 | Intuitive Surgical, Inc. (a) | 29,053 | ||
1,478 | Koninklijke Philips N.V. (b) | 22,756 | ||
306 | Masimo Corp. (a) | 43,195 | ||
402 | Medtronic PLC | 32,461 | ||
525 | Novocure Ltd. (a) | 39,889 | ||
2,340 | Olympus Corp. (b) | 45,016 | ||
179 | ResMed, Inc. | 39,076 | ||
732 | Siemens Healthineers AG (b) (c) (d) | 31,399 | ||
2,815 | Smith & Nephew PLC (b) | 32,493 | ||
111 | Sonova Holding AG (b) | 24,427 | ||
182 | STERIS PLC | 30,263 | ||
310 | Straumann Holding AG (b) | 28,353 | ||
167 | Stryker Corp. | 33,824 | ||
578 | Sysmex Corp. (b) | 30,886 | ||
132 | Teleflex, Inc. | 26,593 | ||
1,430 | Terumo Corp. (b) | 40,198 | ||
347 | Zimmer Biomet Holdings, Inc. | 36,279 | ||
1,238,306 | ||||
Health Care Providers & Services – 1.6% | ||||
977 | Amplifon S.p.A. (b) | 25,455 | ||
Life Sciences Tools & Services – 20.7% | ||||
332 | Agilent Technologies, Inc. | 40,355 | ||
76 | Bio-Rad Laboratories, Inc., Class A (a) | 31,703 | ||
151 | Danaher Corp. | 39,002 |
Shares | Description | Value | ||
Life Sciences Tools & Services (Continued) | ||||
33 | Mettler-Toledo International, Inc. (a) | $35,776 | ||
262 | PerkinElmer, Inc. | 31,526 | ||
105 | Sartorius Stedim Biotech (b) | 32,207 | ||
74 | Thermo Fisher Scientific, Inc. | 37,532 | ||
144 | Waters Corp. (a) | 38,812 | ||
107 | West Pharmaceutical Services, Inc. | 26,331 | ||
2,952 | WuXi AppTec Co., Ltd., Class H (b) (c) (d) | 23,577 | ||
336,821 | ||||
Total Investments – 99.6% | 1,621,960 | |||
(Cost $2,688,259) | ||||
Net Other Assets and Liabilities – 0.4% | 7,198 | |||
Net Assets – 100.0% | $1,629,158 |
(a) | Non-income producing security. |
(b) | This security is fair valued by the Advisor’s Pricing Committee in accordance with procedures approved by the Trust’s Board of Trustees and in accordance with provisions of the Investment Company Act of 1940 and rules thereunder, as amended. At September 30, 2022, securities noted as such are valued at $584,919 or 35.9% of net assets. Certain of these securities are fair valued using a factor provided by a third-party pricing service due to the change in value between the foreign markets’ close and the New York Stock Exchange close exceeding a certain threshold. On days when this threshold is not exceeded, these securities are typically valued at the last sale price on the exchange on which they are principally traded. |
(c) | This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933, as amended (the “1933 Act”). |
(d) | This security is exempt from registration upon resale under Rule 144A of the 1933 Act and may be resold in transactions exempt from registration, normally to qualified institutional buyers. This security is not restricted on the foreign exchange where it trades freely without any additional registration. As such, it does not require the additional disclosure required of restricted securities. |
Currency Exposure Diversification | % of Total Investments |
United States Dollar | 63.9% |
Euro | 10.7 |
Japanese Yen | 9.5 |
Swiss Franc | 5.3 |
Danish Krone | 3.3 |
Australian Dollar | 2.1 |
British Pound Sterling | 2.0 |
New Zealand Dollar | 1.7 |
Hong Kong Dollar | 1.5 |
Total | 100.0% |
Total Value at 9/30/2022 | Level 1 Quoted Prices | Level 2 Significant Observable Inputs | Level 3 Significant Unobservable Inputs | |
Common Stocks: | ||||
Biotechnology | $ 21,378 | $ 21,378 | $ — | $ — |
Health Care Equipment & Supplies | 1,238,306 | 734,626 | 503,680 | — |
Health Care Providers & Services | 25,455 | — | 25,455 | — |
Life Sciences Tools & Services | 336,821 | 281,037 | 55,784 | — |
Total Investments | $ 1,621,960 | $ 1,037,041 | $ 584,919 | $— |
ASSETS: | |
Investments, at value (Cost $2,688,259) | $ 1,621,960 |
Cash | 5,657 |
Receivables: | |
Dividends | 1,796 |
Dividend reclaims | 762 |
Total Assets | 1,630,175 |
LIABILITIES: | |
Investment advisory fees payable | 1,017 |
Total Liabilities | 1,017 |
NET ASSETS | $1,629,158 |
NET ASSETS consist of: | |
Paid-in capital | $ 2,841,138 |
Par value | 1,000 |
Accumulated distributable earnings (loss) | (1,212,980) |
NET ASSETS | $1,629,158 |
NET ASSET VALUE, per share | $16.29 |
Number of shares outstanding (unlimited number of shares authorized, par value $0.01 per share) | 100,002 |
INVESTMENT INCOME: | ||
Dividends | $ 7,836 | |
Foreign withholding tax | (615) | |
Other | 10 | |
Total investment income | 7,231 | |
EXPENSES: | ||
Investment advisory fees | 6,749 | |
Total expenses | 6,749 | |
NET INVESTMENT INCOME (LOSS) | 482 | |
NET REALIZED AND UNREALIZED GAIN (LOSS): | ||
Net realized gain (loss) on: | ||
Investments | (122,999) | |
Foreign currency transactions | (487) | |
Net realized gain (loss) | (123,486) | |
Net change in unrealized appreciation (depreciation) on: | ||
Investments | (490,130) | |
Foreign currency translation | (86) | |
Net change in unrealized appreciation (depreciation) | (490,216) | |
NET REALIZED AND UNREALIZED GAIN (LOSS) | (613,702) | |
NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS | $(613,220) |
Six Months Ended 9/30/2022 (Unaudited) | Period Ended 3/31/2022 (a) | ||
OPERATIONS: | |||
Net investment income (loss) | $ 482 | $ (46,130) | |
Net realized gain (loss) | (123,486) | 131,318 | |
Net change in unrealized appreciation (depreciation) | (490,216) | (576,197) | |
Net increase (decrease) in net assets resulting from operations | (613,220) | (491,009) | |
SHAREHOLDER TRANSACTIONS: | |||
Proceeds from shares sold | — | 40,832,103 | |
Net increase (decrease) in net assets resulting from shareholder transactions | — | 2,733,387 | |
Total increase (decrease) in net assets | (613,220) | 2,242,378 | |
NET ASSETS: | |||
Beginning of period | 2,242,378 | — | |
End of period | $1,629,158 | $2,242,378 | |
CHANGES IN SHARES OUTSTANDING: | |||
Shares outstanding, beginning of period | 100,002 | — | |
Shares sold | — | 1,600,002 | |
Shares redeemed | — | (1,500,000) | |
Shares outstanding, end of period | 100,002 | 100,002 |
(a) | Inception date is June 22, 2021, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
Six Months Ended 9/30/2022 (Unaudited) | Period Ended 3/31/2022 (a) | ||
Net asset value, beginning of period | $ 22.42 | $ 25.17 | |
Income from investment operations: | |||
Net investment income (loss) | (0.00) (b) | (0.46) | |
Net realized and unrealized gain (loss) | (6.13) | (2.29) | |
Total from investment operations | (6.13) | (2.75) | |
Net asset value, end of period | $16.29 | $22.42 | |
Total return (c) | (27.34)% | (10.93)% | |
Ratios to average net assets/supplemental data: | |||
Net assets, end of period (in 000’s) | $ 1,629 | $ 2,242 | |
Ratio of total expenses to average net assets | 0.70% (d) | 0.70% (d) | |
Ratio of net investment income (loss) to average net assets | 0.05% (d) | (0.36)% (d) | |
Portfolio turnover rate (e) | 13% | 13% |
(a) | Inception date is June 22, 2021, which is consistent with the commencement of investment operations and is the date the initial creation units were established. |
(b) | Amount is less than $0.01. |
(c) | Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all distributions at net asset value during the period, and redemption at net asset value on the last day of the period. The return presented does not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption or sale of Fund shares. Total return is calculated for the time period presented and is not annualized for periods of less than a year. |
(d) | Annualized. |
(e) | Portfolio turnover is calculated for the time period presented and is not annualized for periods of less than a year and does not include securities received or delivered from processing creations or redemptions and in-kind transactions. |
1) | the last sale price on the exchange on which they are principally traded or, for Nasdaq and AIM securities, the official closing price; |
2) | the type of security; |
3) | the size of the holding; |
4) | the initial cost of the security; |
5) | transactions in comparable securities; |
6) | price quotes from dealers and/or third-party pricing services; |
7) | relationships among various securities; |
8) | information obtained by contacting the issuer, analysts, or the appropriate stock exchange; |
9) | an analysis of the issuer’s financial statements; |
10) | the existence of merger proposals or tender offers that might affect the value of the security; and |
11) | other relevant factors. |
1) | the value of similar foreign securities traded on other foreign markets; |
2) | ADR trading of similar securities; |
3) | closed-end fund or exchange-traded fund trading of similar securities; |
4) | foreign currency exchange activity; |
5) | the trading prices of financial products that are tied to baskets of foreign securities; |
6) | factors relating to the event that precipitated the pricing problem; |
7) | whether the event is likely to recur; |
8) | whether the effects of the event are isolated or whether they affect entire markets, countries or regions; and |
9) | other relevant factors. |
• | Level 1 – Level 1 inputs are quoted prices in active markets for identical investments. An active market is a market in which transactions for the investment occur with sufficient frequency and volume to provide pricing information on an ongoing basis. |
• | Level 2 – Level 2 inputs are observable inputs, either directly or indirectly, and include the following: |
o | Quoted prices for similar investments in active markets. |
o | Quoted prices for identical or similar investments in markets that are non-active. A non-active market is a market where there are few transactions for the investment, the prices are not current, or price quotations vary substantially either over time or among market makers, or in which little information is released publicly. |
o | Inputs other than quoted prices that are observable for the investment (for example, interest rates and yield curves observable at commonly quoted intervals, volatilities, prepayment speeds, loss severities, credit risks, and default rates). |
o | Inputs that are derived principally from or corroborated by observable market data by correlation or other means. |
• | Level 3 – Level 3 inputs are unobservable inputs. Unobservable inputs may reflect the reporting entity’s own assumptions about the assumptions that market participants would use in pricing the investment. |
Undistributed ordinary income | $— |
Accumulated capital and other gain (loss) | (17,983) |
Net unrealized appreciation (depreciation) | (581,777) |
Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation (Depreciation) | |||
$2,688,259 | $— | $(1,066,299) | $(1,066,299) |
NOT FDIC INSURED | NOT BANK GUARANTEED | MAY LOSE VALUE |
FUND ACCOUNTANT &
TRANSFER AGENT
PUBLIC ACCOUNTING FIRM
First Trust Exchange Traded Fund VI
S-Network Healthcare Technology ETF
Statement of Assets and Liabilities
September 30, 2022 (Unaudited)
ASSETS: | ||
Cash | $ | 50.00 |
Total Assets | $ | 50.00 |
NET ASSETS consist of: | ||
Paid in Capital | $ | 50.00 |
NET ASSETS | $ | 50.00 |
Number of shares outstanding (unlimited number of shares authorized, par value $0.01 per share) | 2 | |
NET ASSET VALUE, per share | $ | 25.00 |
The accompanying notes are an integral part of the Statement of Assets and Liabilities.
Note 1: Organization
First Trust S-Network Healthcare Technology ETF (the “Fund”), which is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), is a series of the First Trust Exchange-Traded Fund VI (the “Trust”), a registered open-end investment company that was organized as a Massachusetts business trust on June 4, 2012. The Fund has had no operations through September 30, 2022 other than matters relating to organization and registration and the sale of its shares to First Trust Portfolios L.P., the sole shareholder of the Fund.
The investment objective of the Fund is to seek investment results that correspond generally to the price and yield (before the Fund’s fees and expenses) of an index called the S-Network Healthcare Technology Index (the “Index”). Once the Fund commences investment operations, the Fund will normally invest at least 80% of its net assets (including investment borrowings) in the common stocks and depositary receipts that comprise the Index.
Note 2: Significant Accounting Policies
The Fund is considered an investment company and follows accounting and reporting guidance under Financial Accounting Standards Board Accounting Standards Codification Topic 946, “Financial Services – Investment Companies.” The following is a summary of significant accounting policies consistently followed by the Fund in the preparation of the financial statement. The preparation of the financial statement in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts and disclosures in the Statement of Assets and Liabilities. Actual results could differ from these estimates.
The Fund intends to qualify as a regulated investment company by complying with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended, which includes distributing substantially all of its net investment income and net realized gains to shareholders. Accordingly, no provision has been made for federal and state income taxes. However, due to the timing and amount of distributions, the Fund may be subject to an excise tax of 4% of the amount by which 98% of the Fund’s taxable income exceeds the distributions from such taxable income for the calendar year.
Note 3: Investment Advisory Fee, Affiliated Transactions and Other Fee Arrangements
First Trust Advisors L.P. (“First Trust”), the Fund’s Advisor, is a limited partnership with one limited partner, Grace Partners of DuPage L.P., and one general partner, The Charger Corporation. The Charger Corporation is an Illinois corporation controlled by James A. Bowen, Chief Executive Officer of First Trust. First Trust is responsible for the selection and ongoing monitoring of the securities in the Fund’s portfolio, managing the Fund’s business affairs and providing certain administrative services necessary for the management of the Fund.
Once the Fund commences investment operations, First Trust will be paid an annual unitary management fee of 0.65% of the Fund’s average daily net assets. First Trust is responsible for the expenses of the Fund including the cost of transfer agency, custody, fund administration, licensing fees, legal, audit, and other services, but excluding fee payments under the Investment Management Agreement, interest, taxes, brokerage commissions and other expenses associated with the execution of portfolio transactions, distribution and service fees pursuant to a Rule 12b-1 plan, if any, acquired fund fees and expenses, and extraordinary expenses, which are paid by the Fund. Once the Fund commences investment operations, First Trust will also provide fund reporting services to the Fund for a flat annual fee in the amount of $9,250, which is covered under the annual unitary management fee.
The Trust has multiple service agreements with Brown Brothers Harriman & Co. (“BBH”). Under the service agreements, BBH performs custodial, fund accounting, certain administrative services, and transfer agency services for the Fund. As custodian, BBH is responsible for custody of the Fund’s assets. As fund accountant and administrator, BBH is responsible for maintaining the books and records of the Fund’s securities and cash. As transfer agent, BBH is responsible for maintaining shareholder records for the Fund.
Each Trustee who is not an officer or employee of First Trust, any sub-advisor or any of their affiliates (“Independent Trustees”) is paid a fixed annual retainer that is allocated equally among each fund in the First Trust Fund Complex. Each Independent Trustee is also paid an annual per fund fee that varies based on whether the fund is a closed-end or other actively managed fund, a target outcome fund or an index fund.
Additionally, the Lead Independent Trustee and the Chairs of the Audit Committee, Nominating and Governance Committee and Valuation Committee are paid annual fees to serve in such capacities, with such compensation allocated pro rata among each fund in the First Trust Fund Complex based on net assets. Independent Trustees are reimbursed for travel and out-of-pocket expenses in connection with all meetings. The Lead Independent Trustee and Committee Chairs rotate every three years. The officers and “Interested” Trustee receive no compensation from the Trust for acting in such capacities.
Note 4: Capital
Subsequent to the Fund’s commencement of investment operations, the Fund will issue and redeem shares in primary market transactions through a creation and redemption mechanism. The Fund will not sell or redeem individual shares. Instead, financial entities known as “Authorized Participants” have contractual arrangements with the Fund or one of the Fund’s service providers to purchase and redeem Fund shares directly with the Fund in large blocks of shares known as “Creation Units.” Prior to the start of trading on every business day, the Fund publishes through the National Securities Clearing Corporation (“NSCC”) the “basket” of securities, cash or other assets that it will accept in exchange for a Creation Unit of the Fund’s shares. An Authorized Participant that wishes to effectuate a creation of the Fund’s shares deposits with the Fund the “basket” of securities, cash or other assets identified by the Fund that day, and then receives the Creation Unit of the Fund’s shares in return for those assets. After purchasing a Creation Unit, the Authorized Participant may continue to hold the Fund’s shares or sell them in the secondary market. The redemption process is the reverse of the purchase process: the Authorized Participant redeems a Creation Unit of the Fund’s shares for a basket of securities, cash or other assets. The combination of the creation and redemption process with secondary market trading in the Fund’s shares and underlying securities provides arbitrage opportunities that are designed to help keep the market price of the Fund’s shares at or close to the NAV per share of the Fund.
The Fund will impose fees in connection with the purchase of Creation Units. These fees may vary based upon various fact-based circumstances, including, but not limited to, the composition of the securities included in the Creation Unit or the countries in which the transactions are settled. The price for each Creation Unit will equal the daily NAV per share of the Fund times the number of shares in a Creation Unit, plus the fees described above and, if applicable, any operational processing and brokerage costs, transfer fees, stamp taxes and part or all of the spread between the expected bid and offer side of the market related to the securities comprising the creation basket.
The Fund also will impose fees in connection with the redemption of Creation Units. These fees may vary based upon various fact-based circumstances, including, but not limited to, the composition of the securities included in the Creation Unit or the countries in which the transactions are settled. The price received for each Creation Unit will equal the daily NAV per share of a Fund times the number of shares in a Creation Unit, minus the fees described above and, if applicable, any operational processing and brokerage costs, transfer fees, stamp taxes and part or all of the spread between the expected bid and offer side of the market related to the securities comprising the redemption basket. Investors who use the services of a broker or other such intermediary in addition to an Authorized Participant to effect a redemption of a Creation Unit may also be assessed an amount to cover the cost of such services. The redemption fee charged by the Fund will comply with Rule 22c-2 of the 1940 Act which limits redemption fees to no more than 2% of the value of the shares redeemed.
Note 5: Subsequent Events
Management has evaluated the impact of all subsequent events to the Fund through the date the financial statement was issued and has determined that there was the following subsequent event:
Effective October 24, 2022, the Board of Trustees of the Trust approved the liquidation and termination of the Fund as soon as practicable as determed by First Trust. The liquidation was completed on November 16, 2022 and the termination was completed on November 16, 2022.
(b) Not applicable.
Item 2. Code of Ethics.
Not applicable.
Item 3. Audit Committee Financial Expert.
Not applicable.
Item 4. Principal Accountant Fees and Services.
Not applicable.
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Items 6. Schedule of Investments.
a) | Schedules of Investments in securities of unaffiliated issuers as of the close of the reporting period are included as part of the report to shareholders filed under Item 1 of this form. |
b) | Not applicable. |
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.
There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant’s board of directors, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.
Item 11. Controls and Procedures.
a) | The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3 (c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15 (b)). |
b) | There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that has materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
(a) Not applicable.
(b) Not applicable.
Item 13. Exhibits.
(a)(1) | Not applicable. |
(a)(2) | Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
(a)(3) | Not applicable. |
(a)(4) | Not applicable. |
(b) | Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto. |
SIGNATURES
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) | First Trust Exchange-Traded Fund VI |
By (Signature and Title)* | /s/ James M. Dykas | |
James M. Dykas, President and Chief Executive Officer (principal executive officer) |
Date: | December 8, 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 (Signature and Title)* | /s/ James M. Dykas | |
James M. Dykas, President and Chief Executive Officer (principal executive officer) |
Date: | December 8, 2022 |
By (Signature and Title)* | /s/ Donald P. Swade | |
Donald P. Swade, Treasurer, Chief Financial Officer and Chief Accounting Officer (principal financial officer) |
Date: | December 8, 2022 |
* Print the name and title of each signing officer under his or her signature.