Shares or Principal Amount | | Market Value† |
COMMON STOCKS - 85.9% |
| Automobiles & Components - 1.4% |
29,100 | Huizhou Desay Sv Automotive Co., Ltd. Class A | $ 568,088 |
| Banks - 6.6% |
180,792 | Bank of Ningbo Co., Ltd. Class A | 880,844 |
302,133 | China Merchants Bank Co., Ltd. Class A | 1,851,960 |
| | | 2,732,804 |
| Capital Goods - 13.4% |
17,000 | Contemporary Amperex Technology Co., Ltd. Class A | 1,179,215 |
14,800 | Gongniu Group Co., Ltd. Class A | 332,459 |
171,400 | Han's Laser Technology Industry Group Co., Ltd. Class A | 712,424 |
196,240 | Hongfa Technology Co., Ltd. Class A | 1,091,346 |
1,600 | Jiangsu Hengli Hydraulic Co., Ltd. Class A | 15,533 |
39,068 | Luoyang Xinqianglian Slewing Bearing Co., Ltd. Class A | 368,670 |
367,300 | Sany Heavy Industry Co., Ltd. Class A | 955,512 |
67,800 | Sinoseal Holding Co., Ltd. Class A | 418,936 |
125,100 | Zhejiang Sanhua Intelligent Controls Co., Ltd. Class A | 475,787 |
| | | 5,549,882 |
| Consumer Durables & Apparel - 3.6% |
45,746 | Hang Zhou Great Star Industrial Co., Ltd. Class A* | 146,666 |
143,800 | Midea Group Co., Ltd. Class A | 1,180,108 |
9,389 | Oppein Home Group, Inc. Class A | 175,159 |
| | | 1,501,933 |
| Diversified Financials - 1.4% |
32,600 | Hithink RoyalFlush Information Network Co., Ltd. Class A | 572,474 |
| Food, Beverage & Tobacco - 8.5% |
107,795 | Chacha Food Co., Ltd. Class A | 729,362 |
6,800 | Chongqing Brewery Co., Ltd. Class A | 121,460 |
4,545 | Kweichow Moutai Co., Ltd. Class A | 1,246,102 |
250,496 | Toly Bread Co., Ltd. Class A | 621,463 |
25,999 | Wuliangye Yibin Co., Ltd. Class A | 809,002 |
| | | 3,527,389 |
| Health Care Equipment & Services - 0.8% |
114,400 | Edan Instruments, Inc. Class A | 207,052 |
124,865 | Shanghai Kinetic Medical Co., Ltd. Class A | 133,959 |
| | | 341,011 |
| Insurance - 5.1% |
281,800 | Ping An Insurance Group Co. of China Ltd. Class A | 2,136,245 |
| Materials - 22.5% |
233,300 | China Jushi Co., Ltd. Class A | 510,732 |
298,409 | Chongqing Zaisheng Technology Corp. Ltd. Class A | 258,796 |
256,414 | Citic Pacific Special Steel Group Co., Ltd. Class A | 693,808 |
229,780 | Hengli Petrochemical Co., Ltd. Class A | 597,429 |
412,178 | Huafon Chemical Co., Ltd. Class A | 464,581 |
249,600 | Hubei Dinglong Co., Ltd. Class A | 847,382 |
67,400 | Jiangsu Boqian New Materials Stock Co., Ltd. Class A | 519,118 |
120,800 | LB Group Co., Ltd. Class A | 373,865 |
439,046 | Satellite Chemical Co., Ltd. Class A | 1,154,079 |
180,400 | Shandong Sinocera Functional Material Co., Ltd. Class A | 874,016 |
75,500 | Wanhua Chemical Group Co., Ltd. Class A | 1,083,194 |
1,047 | Western Superconducting Technologies Co., Ltd. Class A | 15,296 |
96,840 | Zhejiang Huayou Cobalt Co., Ltd. Class A | 947,608 |
561,057 | Zijin Mining Group Co., Ltd. Class A | 985,267 |
| | | 9,325,171 |
| Media & Entertainment - 4.1% |
259,200 | Focus Media Information Technology Co., Ltd. Class A | 267,486 |
199,100 | Mango Excellent Media Co., Ltd. Class A | 902,214 |
244,700 | Perfect World Co., Ltd. Class A | 510,398 |
| | | 1,680,098 |
| Pharmaceuticals, Biotechnology & Life Sciences - 5.3% |
72,400 | Amoy Diagnostics Co., Ltd. Class A | 309,085 |
31,700 | Hangzhou Tigermed Consulting Co., Ltd. Class A | 548,001 |
25,276 | Jiangsu Hengrui Pharmaceuticals Co., Ltd. Class A | 158,337 |