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: 811-04015
Eaton Vance Mutual Funds Trust
(Exact Name of Registrant as Specified in Charter)
One Post Office Square, Boston, Massachusetts 02109
(Address of Principal Executive Offices)
Deidre E. Walsh
One Post Office Square, Boston, Massachusetts 02109
(Name and Address of Agent for Services)
(617) 482-8260
(Registrant’s Telephone Number)
January 31
Date of Fiscal Year End
July 31, 2024
Date of Reporting Period
Item 1. Reports to Stockholders
(a)
Parametric Emerging Markets Fund
Class A EAEMX
Semi-Annual Shareholder Report July 31, 2024
This semi-annual shareholder report contains important information about the Parametric Emerging Markets Fund for the period of February 1, 2024 to July 31, 2024. You can find additional information about the Fund at www.eatonvance.com/parametric-fund-documents.php. You can also request this information by contacting us at 1-800-260-0761.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
---|---|---|
Class A | $77 | 1.49% |
Key Fund Statistics
Total Net Assets | $185,092,584 |
# of Portfolio Holdings | 1,143 |
Portfolio Turnover Rate | 2% |
What did the Fund invest in?
The following tables reflect what the Fund invested in as of the report date.
Geographic Allocation (% of total investments)
Value | Value |
---|---|
North America | 0.5% |
Developed Europe | 0.6% |
Africa | 9.2% |
Middle East | 11.0% |
Emerging Europe | 13.2% |
Latin America | 14.1% |
Asia | 51.4% |
Top Ten Holdings (% of total investments)Footnote Referencea
Taiwan Semiconductor Manufacturing Co. Ltd. | 1.6% |
Tencent Holdings Ltd. | 1.1% |
Delta Electronics Thailand PCL | 1.0% |
Samsung Electronics Co. Ltd. | 1.0% |
Naspers Ltd., Class N | 0.7% |
MercadoLibre, Inc. | 0.7% |
Infosys Ltd. | 0.6% |
America Movil SAB de CV, Series B | 0.6% |
Turkiye Petrol Rafinerileri AS | 0.6% |
Reliance Industries Ltd. | 0.5% |
Total | 8.4% |
Footnote | Description |
Footnotea | Excluding cash equivalents |
Additional Information
If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/parametric-fund-documents.php. For proxy information, please visit www.eatonvance.com/proxyvoting.
Householding
The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-260-0761 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.
Not FDIC Insured | May Lose Value | No Bank Guarantee
Semi-Annual Shareholder Report July 31, 2024
EAEMX-TSR-SAR
Parametric Emerging Markets Fund
Class C ECEMX
Semi-Annual Shareholder Report July 31, 2024
This semi-annual shareholder report contains important information about the Parametric Emerging Markets Fund for the period of February 1, 2024 to July 31, 2024. You can find additional information about the Fund at www.eatonvance.com/parametric-fund-documents.php. You can also request this information by contacting us at 1-800-260-0761.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
---|---|---|
Class C | $116 | 2.24% |
Key Fund Statistics
Total Net Assets | $185,092,584 |
# of Portfolio Holdings | 1,143 |
Portfolio Turnover Rate | 2% |
What did the Fund invest in?
The following tables reflect what the Fund invested in as of the report date.
Geographic Allocation (% of total investments)
Value | Value |
---|---|
North America | 0.5% |
Developed Europe | 0.6% |
Africa | 9.2% |
Middle East | 11.0% |
Emerging Europe | 13.2% |
Latin America | 14.1% |
Asia | 51.4% |
Top Ten Holdings (% of total investments)Footnote Referencea
Taiwan Semiconductor Manufacturing Co. Ltd. | 1.6% |
Tencent Holdings Ltd. | 1.1% |
Delta Electronics Thailand PCL | 1.0% |
Samsung Electronics Co. Ltd. | 1.0% |
Naspers Ltd., Class N | 0.7% |
MercadoLibre, Inc. | 0.7% |
Infosys Ltd. | 0.6% |
America Movil SAB de CV, Series B | 0.6% |
Turkiye Petrol Rafinerileri AS | 0.6% |
Reliance Industries Ltd. | 0.5% |
Total | 8.4% |
Footnote | Description |
Footnotea | Excluding cash equivalents |
Additional Information
If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/parametric-fund-documents.php. For proxy information, please visit www.eatonvance.com/proxyvoting.
Householding
The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-260-0761 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.
Not FDIC Insured | May Lose Value | No Bank Guarantee
Semi-Annual Shareholder Report July 31, 2024
ECEMX-TSR-SAR
Parametric Emerging Markets Fund
Class I EIEMX
Semi-Annual Shareholder Report July 31, 2024
This semi-annual shareholder report contains important information about the Parametric Emerging Markets Fund for the period of February 1, 2024 to July 31, 2024. You can find additional information about the Fund at www.eatonvance.com/parametric-fund-documents.php. You can also request this information by contacting us at 1-800-260-0761.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
---|---|---|
Class I | $64 | 1.24% |
Key Fund Statistics
Total Net Assets | $185,092,584 |
# of Portfolio Holdings | 1,143 |
Portfolio Turnover Rate | 2% |
What did the Fund invest in?
The following tables reflect what the Fund invested in as of the report date.
Geographic Allocation (% of total investments)
Value | Value |
---|---|
North America | 0.5% |
Developed Europe | 0.6% |
Africa | 9.2% |
Middle East | 11.0% |
Emerging Europe | 13.2% |
Latin America | 14.1% |
Asia | 51.4% |
Top Ten Holdings (% of total investments)Footnote Referencea
Taiwan Semiconductor Manufacturing Co. Ltd. | 1.6% |
Tencent Holdings Ltd. | 1.1% |
Delta Electronics Thailand PCL | 1.0% |
Samsung Electronics Co. Ltd. | 1.0% |
Naspers Ltd., Class N | 0.7% |
MercadoLibre, Inc. | 0.7% |
Infosys Ltd. | 0.6% |
America Movil SAB de CV, Series B | 0.6% |
Turkiye Petrol Rafinerileri AS | 0.6% |
Reliance Industries Ltd. | 0.5% |
Total | 8.4% |
Footnote | Description |
Footnotea | Excluding cash equivalents |
Additional Information
If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/parametric-fund-documents.php. For proxy information, please visit www.eatonvance.com/proxyvoting.
Householding
The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-260-0761 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.
Not FDIC Insured | May Lose Value | No Bank Guarantee
Semi-Annual Shareholder Report July 31, 2024
EIEMX-TSR-SAR
Parametric Emerging Markets Fund
Class R6 EREMX
Semi-Annual Shareholder Report July 31, 2024
This semi-annual shareholder report contains important information about the Parametric Emerging Markets Fund for the period of February 1, 2024 to July 31, 2024. You can find additional information about the Fund at www.eatonvance.com/parametric-fund-documents.php. You can also request this information by contacting us at 1-800-260-0761.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
---|---|---|
Class R6 | $61 | 1.17% |
Key Fund Statistics
Total Net Assets | $185,092,584 |
# of Portfolio Holdings | 1,143 |
Portfolio Turnover Rate | 2% |
What did the Fund invest in?
The following tables reflect what the Fund invested in as of the report date.
Geographic Allocation (% of total investments)
Value | Value |
---|---|
North America | 0.5% |
Developed Europe | 0.6% |
Africa | 9.2% |
Middle East | 11.0% |
Emerging Europe | 13.2% |
Latin America | 14.1% |
Asia | 51.4% |
Top Ten Holdings (% of total investments)Footnote Referencea
Taiwan Semiconductor Manufacturing Co. Ltd. | 1.6% |
Tencent Holdings Ltd. | 1.1% |
Delta Electronics Thailand PCL | 1.0% |
Samsung Electronics Co. Ltd. | 1.0% |
Naspers Ltd., Class N | 0.7% |
MercadoLibre, Inc. | 0.7% |
Infosys Ltd. | 0.6% |
America Movil SAB de CV, Series B | 0.6% |
Turkiye Petrol Rafinerileri AS | 0.6% |
Reliance Industries Ltd. | 0.5% |
Total | 8.4% |
Footnote | Description |
Footnotea | Excluding cash equivalents |
Additional Information
If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/parametric-fund-documents.php. For proxy information, please visit www.eatonvance.com/proxyvoting.
Householding
The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-260-0761 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.
Not FDIC Insured | May Lose Value | No Bank Guarantee
Semi-Annual Shareholder Report July 31, 2024
EREMX-TSR-SAR
Parametric International Equity Fund
Class A EAISX
Semi-Annual Shareholder Report July 31, 2024
This semi-annual shareholder report contains important information about the Parametric International Equity Fund for the period of February 1, 2024 to July 31, 2024. You can find additional information about the Fund at www.eatonvance.com/parametric-fund-documents.php. You can also request this information by contacting us at 1-800-260-0761.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
---|---|---|
Class A | $40 | 0.77% |
Key Fund Statistics
Total Net Assets | $327,684,077 |
# of Portfolio Holdings | 843 |
Portfolio Turnover Rate | 7% |
What did the Fund invest in?
The following tables reflect what the Fund invested in as of the report date.
Geographic Allocation (% of total investments)
Value | Value |
---|---|
Developed Middle East | 2.0% |
North America | 4.0% |
Australasia/Pacific | 9.3% |
Asia | 21.1% |
Developed Europe | 63.6% |
Top Ten Holdings (% of total investments)Footnote Referencea
Nestle SA | 1.1% |
Novo Nordisk AS, Class B | 1.1% |
Cie Financiere Richemont SA, Class A | 0.9% |
E.ON SE | 0.8% |
SAP SE | 0.8% |
Deutsche Telekom AG | 0.8% |
CSL Ltd. | 0.8% |
Air Liquide SA | 0.8% |
Sanofi SA | 0.8% |
TotalEnergies SE | 0.7% |
Total | 8.6% |
Footnote | Description |
Footnotea | Excluding cash equivalents |
Additional Information
If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/parametric-fund-documents.php. For proxy information, please visit www.eatonvance.com/proxyvoting.
Householding
The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-260-0761 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.
Not FDIC Insured | May Lose Value | No Bank Guarantee
Semi-Annual Shareholder Report July 31, 2024
EAISX-TSR-SAR
Parametric International Equity Fund
Class R ERISX
Semi-Annual Shareholder Report July 31, 2024
This semi-annual shareholder report contains important information about the Parametric International Equity Fund for the period of February 1, 2024 to July 31, 2024. You can find additional information about the Fund at www.eatonvance.com/parametric-fund-documents.php. You can also request this information by contacting us at 1-800-260-0761.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
---|---|---|
Class R | $53 | 1.02% |
Key Fund Statistics
Total Net Assets | $327,684,077 |
# of Portfolio Holdings | 843 |
Portfolio Turnover Rate | 7% |
What did the Fund invest in?
The following tables reflect what the Fund invested in as of the report date.
Geographic Allocation (% of total investments)
Value | Value |
---|---|
Developed Middle East | 2.0% |
North America | 4.0% |
Australasia/Pacific | 9.3% |
Asia | 21.1% |
Developed Europe | 63.6% |
Top Ten Holdings (% of total investments)Footnote Referencea
Nestle SA | 1.1% |
Novo Nordisk AS, Class B | 1.1% |
Cie Financiere Richemont SA, Class A | 0.9% |
E.ON SE | 0.8% |
SAP SE | 0.8% |
Deutsche Telekom AG | 0.8% |
CSL Ltd. | 0.8% |
Air Liquide SA | 0.8% |
Sanofi SA | 0.8% |
TotalEnergies SE | 0.7% |
Total | 8.6% |
Footnote | Description |
Footnotea | Excluding cash equivalents |
Additional Information
If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/parametric-fund-documents.php. For proxy information, please visit www.eatonvance.com/proxyvoting.
Householding
The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-260-0761 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.
Not FDIC Insured | May Lose Value | No Bank Guarantee
Semi-Annual Shareholder Report July 31, 2024
ERISX-TSR-SAR
Parametric International Equity Fund
Class R6 ESISX
Semi-Annual Shareholder Report July 31, 2024
This semi-annual shareholder report contains important information about the Parametric International Equity Fund for the period of February 1, 2024 to July 31, 2024. You can find additional information about the Fund at www.eatonvance.com/parametric-fund-documents.php. You can also request this information by contacting us at 1-800-260-0761.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
---|---|---|
Class R6 | $25 | 0.49% |
Key Fund Statistics
Total Net Assets | $327,684,077 |
# of Portfolio Holdings | 843 |
Portfolio Turnover Rate | 7% |
What did the Fund invest in?
The following tables reflect what the Fund invested in as of the report date.
Geographic Allocation (% of total investments)
Value | Value |
---|---|
Developed Middle East | 2.0% |
North America | 4.0% |
Australasia/Pacific | 9.3% |
Asia | 21.1% |
Developed Europe | 63.6% |
Top Ten Holdings (% of total investments)Footnote Referencea
Nestle SA | 1.1% |
Novo Nordisk AS, Class B | 1.1% |
Cie Financiere Richemont SA, Class A | 0.9% |
E.ON SE | 0.8% |
SAP SE | 0.8% |
Deutsche Telekom AG | 0.8% |
CSL Ltd. | 0.8% |
Air Liquide SA | 0.8% |
Sanofi SA | 0.8% |
TotalEnergies SE | 0.7% |
Total | 8.6% |
Footnote | Description |
Footnotea | Excluding cash equivalents |
Additional Information
If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/parametric-fund-documents.php. For proxy information, please visit www.eatonvance.com/proxyvoting.
Householding
The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-260-0761 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.
Not FDIC Insured | May Lose Value | No Bank Guarantee
Semi-Annual Shareholder Report July 31, 2024
ESISX-TSR-SAR
Parametric International Equity Fund
Class I EIISX
Semi-Annual Shareholder Report July 31, 2024
This semi-annual shareholder report contains important information about the Parametric International Equity Fund for the period of February 1, 2024 to July 31, 2024. You can find additional information about the Fund at www.eatonvance.com/parametric-fund-documents.php. You can also request this information by contacting us at 1-800-260-0761.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
---|---|---|
Class I | $27 | 0.52% |
Key Fund Statistics
Total Net Assets | $327,684,077 |
# of Portfolio Holdings | 843 |
Portfolio Turnover Rate | 7% |
What did the Fund invest in?
The following tables reflect what the Fund invested in as of the report date.
Geographic Allocation (% of total investments)
Value | Value |
---|---|
Developed Middle East | 2.0% |
North America | 4.0% |
Australasia/Pacific | 9.3% |
Asia | 21.1% |
Developed Europe | 63.6% |
Top Ten Holdings (% of total investments)Footnote Referencea
Nestle SA | 1.1% |
Novo Nordisk AS, Class B | 1.1% |
Cie Financiere Richemont SA, Class A | 0.9% |
E.ON SE | 0.8% |
SAP SE | 0.8% |
Deutsche Telekom AG | 0.8% |
CSL Ltd. | 0.8% |
Air Liquide SA | 0.8% |
Sanofi SA | 0.8% |
TotalEnergies SE | 0.7% |
Total | 8.6% |
Footnote | Description |
Footnotea | Excluding cash equivalents |
Additional Information
If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/parametric-fund-documents.php. For proxy information, please visit www.eatonvance.com/proxyvoting.
Householding
The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-260-0761 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.
Not FDIC Insured | May Lose Value | No Bank Guarantee
Semi-Annual Shareholder Report July 31, 2024
EIISX-TSR-SAR
Parametric Volatility Risk Premium - Defensive Fund
Class I EIVPX
Semi-Annual Shareholder Report July 31, 2024
This semi-annual shareholder report contains important information about the Parametric Volatility Risk Premium - Defensive Fund for the period of February 1, 2024 to July 31, 2024. You can find additional information about the Fund at www.eatonvance.com/parametric-fund-documents.php. You can also request this information by contacting us at 1-800-260-0761.
What were the Fund costs for the last six months?
(based on a hypothetical $10,000 investment)
Class Name | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
---|---|---|
Class I | $25 | 0.48% |
Key Fund Statistics
Total Net Assets | $1,019,751,363 |
# of Portfolio Holdings | 199 |
Portfolio Turnover Rate | 9% |
What did the Fund invest in?
The following tables reflect what the Fund invested in as of the report date.
Asset Allocation (% of total investments)
Value | Value |
---|---|
Common Stocks | 49.3% |
Short-Term Investments | 50.7% |
Top Ten Holdings (% of total investments)Footnote Referencea
Apple, Inc. | 3.5% |
Microsoft Corp. | 3.4% |
NVIDIA Corp. | 3.2% |
Amazon.com, Inc. | 1.8% |
Meta Platforms, Inc., Class A | 1.2% |
Alphabet, Inc., Class A | 1.2% |
Broadcom, Inc. | 1.0% |
Berkshire Hathaway, Inc., Class B | 1.0% |
Alphabet, Inc., Class C | 0.9% |
Eli Lilly & Co. | 0.9% |
Total | 18.1% |
Footnote | Description |
Footnotea | Excluding cash equivalents |
Additional Information
If you wish to view additional information about the Fund, including the prospectus, statement of additional information, financial statements and holdings, please scan the QR code or visit www.eatonvance.com/parametric-fund-documents.php. For proxy information, please visit www.eatonvance.com/proxyvoting.
Householding
The Funds may deliver a single copy of certain required shareholder documents (including prospectuses, shareholder reports, and proxy materials) to investors with the same last name and the same address. Your participation will continue indefinitely unless you instruct otherwise by calling 1-800-260-0761 or by contacting your financial intermediary. Your instruction will typically be effective within 30 days of receipt.
Not FDIC Insured | May Lose Value | No Bank Guarantee
Semi-Annual Shareholder Report July 31, 2024
EIVPX-TSR-SAR
(b) | Not applicable. |
Item 2. Code of Ethics
Not required in this filing.
Item 3. Audit Committee Financial Expert
Not required in this filing.
Item 4. Principal Accountant Fees and Services
Not required in this filing.
Item 5. Audit Committee of Listed Registrants
Not applicable.
Item 6. Schedule of Investments
(a) | Please see schedule of investments contained in the Financial Statements and Financial Highlights included under Item 7 of this Form N-CSR. |
(b) | Not applicable. |
Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies
Common Stocks — 99.3% |
Security | Shares | Value | |
Australia — 8.6% | |||
AGL Energy Ltd. | 82,600 | $ 561,499 | |
ASX Ltd.(1) | 3,000 | 127,819 | |
Atlas Arteria Ltd.(1) | 59,800 | 205,388 | |
Aurizon Holdings Ltd. | 93,148 | 227,120 | |
BHP Group Ltd. | 48,944 | 1,359,417 | |
Brambles Ltd. | 68,065 | 693,900 | |
BWP Trust | 58,794 | 137,915 | |
CAR Group Ltd. | 40,900 | 935,404 | |
Centuria Industrial REIT(1) | 53,000 | 110,469 | |
Centuria Office REIT(1) | 67,500 | 55,076 | |
Charter Hall Long Wale REIT(1) | 23,400 | 54,734 | |
Charter Hall Retail REIT(1) | 75,300 | 172,288 | |
Codan Ltd. | 32,850 | 282,280 | |
Coles Group Ltd. | 80,600 | 955,245 | |
Commonwealth Bank of Australia | 11,600 | 1,045,277 | |
Computershare Ltd. | 33,300 | 600,599 | |
CSL Ltd. | 13,395 | 2,718,690 | |
Data#3 Ltd.(1) | 37,500 | 217,016 | |
Dexus(1) | 66,800 | 307,985 | |
Elders Ltd.(1) | 17,500 | 109,074 | |
Endeavour Group Ltd.(1) | 77,400 | 278,382 | |
G8 Education Ltd.(1) | 155,500 | 132,621 | |
GrainCorp Ltd., Class A(1) | 19,300 | 114,032 | |
Hansen Technologies Ltd. | 66,850 | 196,803 | |
HomeCo Daily Needs REIT(1)(2) | 250,400 | 208,679 | |
Incitec Pivot Ltd. | 148,000 | 285,727 | |
Infomedia Ltd. | 61,241 | 67,407 | |
IRESS Ltd.(1)(3) | 29,684 | 207,296 | |
Lottery Corp. Ltd. | 183,800 | 598,924 | |
Medibank Pvt Ltd. | 61,500 | 160,106 | |
Mirvac Group(1) | 244,300 | 343,976 | |
National Australia Bank Ltd. | 19,400 | 489,979 | |
National Storage REIT(1) | 86,600 | 140,536 | |
New Hope Corp. Ltd.(1) | 55,500 | 177,000 | |
NEXTDC Ltd.(1)(3) | 50,728 | 558,628 | |
nib holdings Ltd. | 37,000 | 182,179 | |
Northern Star Resources Ltd. | 11,200 | 103,949 | |
Orica Ltd. | 22,699 | 267,096 | |
Origin Energy Ltd. | 158,300 | 1,086,171 | |
Orora Ltd. | 116,205 | 155,488 | |
QBE Insurance Group Ltd. | 14,900 | 175,851 | |
Region RE Ltd. | 118,852 | 176,972 | |
Ridley Corp. Ltd. | 55,600 | 80,703 | |
Rio Tinto Ltd.(1) | 3,900 | 299,684 |
Security | Shares | Value | |
Australia (continued) | |||
Santos Ltd. | 127,500 | $ 664,646 | |
Scentre Group | 210,261 | 479,485 | |
Steadfast Group Ltd. | 57,200 | 242,808 | |
Stockland | 112,000 | 338,286 | |
Suncorp Group Ltd. | 13,000 | 151,257 | |
Tabcorp Holdings Ltd. | 537,100 | 227,257 | |
Technology One Ltd. | 36,588 | 494,248 | |
Telstra Group Ltd. | 485,173 | 1,253,815 | |
TPG Telecom Ltd.(1) | 177,963 | 553,811 | |
Transurban Group | 113,229 | 966,273 | |
Vicinity Ltd. | 140,600 | 194,956 | |
Viva Energy Group Ltd.(4) | 41,423 | 88,362 | |
Washington H Soul Pattinson & Co. Ltd.(1) | 7,200 | 167,583 | |
Waypoint REIT Ltd. | 90,348 | 150,052 | |
Weebit Nano Ltd.(1)(3) | 52,100 | 80,538 | |
Wesfarmers Ltd. | 37,285 | 1,799,456 | |
Whitehaven Coal Ltd. | 51,161 | 258,284 | |
Woodside Energy Group Ltd. | 63,789 | 1,156,801 | |
Woolworths Group Ltd. | 55,096 | 1,243,140 | |
Yancoal Australia Ltd.(1) | 27,200 | 126,058 | |
$ 28,002,500 | |||
Austria — 1.1% | |||
ams-OSRAM AG(3) | 39,000 | $ 52,364 | |
ANDRITZ AG | 6,938 | 444,450 | |
AT&S Austria Technologie & Systemtechnik AG(3) | 7,100 | 151,536 | |
BAWAG Group AG(4) | 1,668 | 121,814 | |
CA Immobilien Anlagen AG | 14,173 | 464,119 | |
Erste Group Bank AG | 6,166 | 320,732 | |
Kontron AG | 12,400 | 262,721 | |
Mayr Melnhof Karton AG | 1,059 | 120,960 | |
OMV AG | 8,579 | 358,946 | |
PIERER Mobility AG | 2,000 | 64,312 | |
Schoeller-Bleckmann Oilfield Equipment AG | 737 | 29,292 | |
Telekom Austria AG | 33,905 | 314,056 | |
UNIQA Insurance Group AG | 5,635 | 48,244 | |
Verbund AG | 5,287 | 424,523 | |
voestalpine AG | 10,446 | 267,907 | |
$ 3,445,976 | |||
Belgium — 2.1% | |||
Ackermans & van Haaren NV | 4,656 | $ 893,297 | |
Aedifica SA | 3,279 | 208,422 | |
Ageas SA(1) | 4,531 | 216,316 | |
Anheuser-Busch InBev SA | 13,386 | 794,783 | |
Argenx SE(3) | 700 | 357,900 |
Security | Shares | Value | |
Belgium (continued) | |||
Barco NV | 7,371 | $ 95,212 | |
Care Property Invest NV(1) | 5,528 | 82,319 | |
Cofinimmo SA(1) | 3,041 | 195,513 | |
Colruyt Group NV | 1,550 | 74,349 | |
D'ieteren Group(1) | 2,831 | 650,615 | |
Elia Group SA(1) | 3,982 | 413,571 | |
Gimv NV | 1,766 | 77,067 | |
KBC Group NV | 7,450 | 576,227 | |
Materialise NV ADR(3) | 15,300 | 99,450 | |
Melexis NV | 1,900 | 165,637 | |
Montea NV | 2,517 | 218,314 | |
Proximus SADP | 28,645 | 207,164 | |
Solvay SA(1) | 9,909 | 348,842 | |
Syensqo SA(1) | 5,767 | 509,963 | |
UCB SA(1) | 3,212 | 536,707 | |
Xior Student Housing NV(2) | 4,621 | 155,392 | |
$ 6,877,060 | |||
Denmark — 4.3% | |||
AP Moller - Maersk AS, Class A | 200 | $ 324,887 | |
AP Moller - Maersk AS, Class B | 187 | 309,361 | |
Better Collective AS(1)(3) | 4,800 | 109,923 | |
Carlsberg AS, Class B | 9,873 | 1,192,233 | |
D/S Norden AS | 3,400 | 147,075 | |
Danske Bank AS | 43,100 | 1,318,105 | |
FLSmidth & Co. AS | 4,700 | 239,762 | |
H Lundbeck AS | 40,500 | 253,218 | |
ISS AS | 12,600 | 230,310 | |
Matas AS | 10,900 | 186,246 | |
Novo Nordisk AS, Class B | 27,067 | 3,586,185 | |
Novonesis (Novozymes), Class B | 30,390 | 1,934,543 | |
Orsted AS(3)(4) | 17,055 | 1,016,546 | |
Pandora AS | 8,965 | 1,405,294 | |
Per Aarsleff Holding AS | 2,300 | 131,517 | |
Scandinavian Tobacco Group AS(4) | 28,050 | 410,933 | |
Svitzer Group AS(3) | 774 | 29,662 | |
Topdanmark AS | 9,927 | 540,644 | |
TORM PLC, Class A | 4,716 | 182,622 | |
Tryg AS | 29,120 | 637,556 | |
$ 14,186,622 | |||
Finland — 2.1% | |||
Citycon OYJ | 9,400 | $ 41,396 | |
Elisa OYJ | 14,651 | 682,171 | |
Fortum OYJ(1) | 47,410 | 729,023 | |
Huhtamaki OYJ | 3,000 | 121,558 |
Security | Shares | Value | |
Finland (continued) | |||
Kesko OYJ, Class B | 40,209 | $ 727,329 | |
Kojamo OYJ(1)(3) | 27,189 | 268,892 | |
Kone OYJ, Class B | 10,131 | 517,335 | |
Konecranes OYJ | 3,600 | 251,472 | |
Neste OYJ | 21,835 | 440,692 | |
Nokia OYJ | 163,727 | 643,431 | |
Nordea Bank Abp | 55,981 | 655,549 | |
Orion OYJ, Class B(1) | 15,263 | 701,103 | |
TietoEVRY OYJ(1) | 4,494 | 91,131 | |
Tokmanni Group Corp. | 38,469 | 470,969 | |
UPM-Kymmene OYJ | 16,343 | 540,561 | |
YIT OYJ(1) | 23,700 | 59,504 | |
$ 6,942,116 | |||
France — 8.3% | |||
Air Liquide SA | 14,492 | $ 2,644,188 | |
Airbus SE | 3,700 | 559,908 | |
Altarea SCA(1) | 1,700 | 183,504 | |
AXA SA | 32,502 | 1,141,139 | |
BNP Paribas SA | 14,900 | 1,020,855 | |
Bollore SE | 114,847 | 714,904 | |
Bouygues SA | 5,016 | 173,182 | |
Bureau Veritas SA(1) | 5,818 | 182,041 | |
Capgemini SE | 7,067 | 1,402,965 | |
Carmila SA(3) | 10,540 | 190,371 | |
Carrefour SA | 18,800 | 280,444 | |
Cie Generale des Etablissements Michelin SCA | 15,760 | 623,920 | |
Coface SA | 9,300 | 140,798 | |
Danone SA | 17,760 | 1,153,779 | |
Dassault Aviation SA | 500 | 100,667 | |
Dassault Systemes SE | 16,100 | 610,331 | |
Edenred SE | 4,550 | 189,456 | |
Eiffage SA | 1,470 | 146,297 | |
Engie SA | 157,368 | 2,473,850 | |
Gecina SA | 3,121 | 309,409 | |
Getlink SE | 5,600 | 99,791 | |
ICADE(1) | 5,100 | 113,352 | |
Klepierre SA | 15,118 | 432,897 | |
La Francaise des Jeux SAEM(4) | 3,700 | 143,555 | |
L'Oreal SA | 1,000 | 432,448 | |
LVMH Moet Hennessy Louis Vuitton SE | 2,245 | 1,583,538 | |
Mercialys SA | 6,500 | 82,361 | |
Nexity SA(1)(3) | 8,700 | 98,056 | |
Orange SA | 117,282 | 1,301,510 | |
Pernod Ricard SA(1) | 5,500 | 735,939 | |
Quadient SA | 11,000 | 218,206 |
Security | Shares | Value | |
France (continued) | |||
Safran SA | 2,317 | $ 509,028 | |
Sanofi SA | 25,044 | 2,581,848 | |
SCOR SE | 5,287 | 113,154 | |
SEB SA | 1,980 | 198,134 | |
Sopra Steria Group | 2,000 | 370,710 | |
SPIE SA | 3,975 | 153,653 | |
Thales SA | 1,600 | 254,326 | |
TotalEnergies SE | 37,331 | 2,518,584 | |
Vinci SA | 4,112 | 469,253 | |
Vivendi SE | 57,342 | 611,883 | |
$ 27,264,234 | |||
Germany — 8.3% | |||
Allianz SE | 3,978 | $ 1,120,465 | |
BASF SE | 26,781 | 1,246,847 | |
Bayer AG | 32,100 | 954,997 | |
Bayerische Motoren Werke AG | 6,320 | 586,174 | |
Bayerische Motoren Werke AG, PFC Shares | 4,529 | 388,278 | |
BioNTech SE ADR(3) | 4,500 | 387,900 | |
Brenntag SE | 2,200 | 156,500 | |
Daimler Truck Holding AG | 5,700 | 220,071 | |
Deutsche Boerse AG | 2,340 | 479,158 | |
Deutsche Lufthansa AG | 20,168 | 126,389 | |
Deutsche Telekom AG | 104,395 | 2,730,710 | |
Deutsche Wohnen SE | 22,430 | 445,454 | |
E.ON SE | 196,853 | 2,760,493 | |
Evonik Industries AG | 13,100 | 265,297 | |
Fielmann Group AG | 2,817 | 127,539 | |
Fraport AG Frankfurt Airport Services Worldwide(3) | 2,100 | 106,645 | |
Fresenius Medical Care AG | 11,665 | 450,127 | |
Fresenius SE & Co. KGaA(3) | 14,300 | 512,380 | |
FUCHS SE | 3,686 | 127,858 | |
FUCHS SE, PFC Shares | 6,177 | 268,398 | |
GEA Group AG | 5,400 | 238,440 | |
Hamborner REIT AG | 30,510 | 214,651 | |
Hannover Rueck SE | 900 | 223,461 | |
Henkel AG & Co. KGaA | 10,296 | 797,764 | |
Henkel AG & Co. KGaA, PFC Shares | 16,918 | 1,447,196 | |
K&S AG | 18,200 | 234,464 | |
Knorr-Bremse AG | 901 | 72,455 | |
Mercedes-Benz Group AG | 16,300 | 1,077,502 | |
MTU Aero Engines AG | 965 | 273,253 | |
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 1,585 | 780,652 | |
QIAGEN NV(3) | 9,998 | 444,850 | |
Rheinmetall AG | 450 | 245,095 |
Security | Shares | Value | |
Germany (continued) | |||
SAP SE | 12,952 | $ 2,738,315 | |
Siemens AG | 7,440 | 1,362,242 | |
Suedzucker AG | 32,018 | 421,778 | |
Symrise AG | 4,600 | 579,744 | |
Talanx AG | 1,900 | 144,346 | |
Verbio SE | 2,600 | 48,882 | |
Volkswagen AG, PFC Shares | 3,400 | 379,450 | |
Vonovia SE | 68,375 | 2,096,391 | |
$ 27,282,611 | |||
Hong Kong — 4.2% | |||
AIA Group Ltd. | 185,400 | $ 1,240,114 | |
AMTD Digital, Inc. ADR(1)(3) | 16,200 | 52,164 | |
ASMPT Ltd. | 57,100 | 597,012 | |
Bank of East Asia Ltd. | 151,000 | 190,454 | |
Beijing Tong Ren Tang Chinese Medicine Co. Ltd.(1) | 142,000 | 156,312 | |
BOC Hong Kong Holdings Ltd. | 108,500 | 315,661 | |
Budweiser Brewing Co. APAC Ltd.(4) | 410,800 | 498,813 | |
Cafe de Coral Holdings Ltd. | 84,000 | 86,531 | |
Cathay Pacific Airways Ltd.(1) | 227,000 | 237,160 | |
China Sunshine Paper Holdings Co. Ltd.(3) | 116,000 | 31,871 | |
China Tobacco International HK Co. Ltd.(1)(2) | 93,000 | 185,946 | |
China Traditional Chinese Medicine Holdings Co. Ltd.(3) | 826,000 | 349,039 | |
Chow Sang Sang Holdings International Ltd. | 101,000 | 85,786 | |
Chow Tai Fook Jewellery Group Ltd. | 259,200 | 235,400 | |
CK Asset Holdings Ltd. | 102,000 | 389,749 | |
CK Hutchison Holdings Ltd. | 141,000 | 736,599 | |
CLP Holdings Ltd. | 109,000 | 935,505 | |
C-Mer Medical Holdings Ltd.(1)(2)(3) | 190,000 | 63,668 | |
DFI Retail Group Holdings Ltd. | 67,300 | 117,703 | |
First Pacific Co. Ltd. | 158,000 | 70,323 | |
Galaxy Entertainment Group Ltd. | 154,000 | 647,404 | |
Hang Lung Group Ltd. | 166,000 | 181,915 | |
Hang Seng Bank Ltd. | 22,400 | 274,307 | |
HK Electric Investments & HK Electric Investments Ltd.(2) | 526,000 | 356,182 | |
HKT Trust & HKT Ltd. | 1,087,000 | 1,316,533 | |
Hongkong Land Holdings Ltd. | 87,800 | 283,560 | |
Hutchison Telecommunications Hong Kong Holdings Ltd. | 658,000 | 85,065 | |
Jardine Matheson Holdings Ltd. | 15,600 | 549,571 | |
Luk Fook Holdings International Ltd. | 76,000 | 149,476 | |
MTR Corp. Ltd. | 139,000 | 449,678 | |
PAX Global Technology Ltd. | 102,000 | 57,231 | |
Power Assets Holdings Ltd. | 118,500 | 755,256 | |
Realord Group Holdings Ltd.(3) | 64,000 | 43,823 | |
Shangri-La Asia Ltd. | 200,000 | 140,220 | |
Sino Land Co. Ltd. | 252,000 | 260,658 |
Security | Shares | Value | |
Hong Kong (continued) | |||
Sun Hung Kai Properties Ltd. | 66,000 | $ 571,463 | |
Superb Summit International Group Ltd.(1)(5) | 230,000 | 0 | |
Swire Pacific Ltd., Class B | 35,000 | 45,362 | |
Vitasoy International Holdings Ltd.(1) | 50,000 | 35,871 | |
Viva Goods Company Ltd. | 808,000 | 59,954 | |
VSTECS Holdings Ltd. | 270,000 | 148,513 | |
VTech Holdings Ltd. | 35,300 | 232,241 | |
Wharf Holdings Ltd. | 81,000 | 222,090 | |
Yue Yuen Industrial Holdings Ltd. | 120,500 | 196,707 | |
$ 13,638,890 | |||
Ireland — 2.2% | |||
Bank of Ireland Group PLC | 109,140 | $ 1,236,003 | |
CRH PLC | 9,381 | 797,920 | |
DCC PLC | 15,325 | 1,055,815 | |
Fineos Corp. Ltd. CDI(3) | 41,347 | 44,945 | |
Flutter Entertainment PLC(3) | 5,824 | 1,152,021 | |
Gambling.com Group Ltd.(3) | 4,400 | 42,328 | |
Glanbia PLC | 6,635 | 132,694 | |
Glenveagh Properties PLC(3)(4) | 20,747 | 30,904 | |
ICON PLC(3) | 3,700 | 1,215,228 | |
Irish Continental Group PLC | 16,054 | 93,462 | |
Irish Residential Properties REIT PLC(1) | 74,174 | 73,812 | |
Kerry Group PLC, Class A | 12,118 | 1,132,981 | |
Uniphar PLC(1) | 20,481 | 57,799 | |
$ 7,065,912 | |||
Israel — 2.0% | |||
Airport City Ltd.(3) | 3,900 | $ 53,894 | |
Amot Investments Ltd. | 23,381 | 94,768 | |
AudioCodes Ltd. | 6,300 | 71,190 | |
Azrieli Group Ltd. | 3,567 | 218,933 | |
Bank Hapoalim BM | 32,460 | 297,864 | |
Bank Leumi Le-Israel BM | 28,537 | 245,917 | |
Bezeq The Israeli Telecommunication Corp. Ltd. | 341,612 | 387,223 | |
Check Point Software Technologies Ltd.(3) | 1,400 | 256,830 | |
Danel Adir Yeoshua Ltd. | 1,100 | 90,170 | |
Delek Automotive Systems Ltd. | 12,000 | 65,712 | |
Delek Group Ltd. | 2,158 | 223,349 | |
Delta Galil Ltd. | 2,040 | 90,603 | |
Elbit Systems Ltd. | 1,444 | 258,454 | |
Enlight Renewable Energy Ltd.(3) | 24,682 | 378,163 | |
Fattal Holdings 1998 Ltd.(3) | 1,395 | 147,578 | |
Fox Wizel Ltd. | 2,702 | 177,266 | |
Hilan Ltd. | 2,300 | 123,634 | |
ICL Group Ltd. | 94,119 | 393,989 |
Security | Shares | Value | |
Israel (continued) | |||
Inrom Construction Industries Ltd. | 28,109 | $ 78,718 | |
Israel Corp. Ltd. | 709 | 148,847 | |
Maytronics Ltd. | 13,500 | 55,521 | |
Melisron Ltd. | 2,750 | 192,763 | |
Nice Ltd.(3) | 1,163 | 209,909 | |
Nova Ltd.(3) | 552 | 110,914 | |
Oil Refineries Ltd. | 624,196 | 150,095 | |
OPC Energy Ltd.(3) | 33,001 | 235,367 | |
Partner Communications Co. Ltd.(3) | 48,700 | 201,372 | |
Plus500 Ltd. | 4,800 | 145,200 | |
Reit 1 Ltd. | 25,218 | 94,289 | |
Shapir Engineering & Industry Ltd.(3) | 22,700 | 126,213 | |
Shufersal Ltd. | 54,334 | 367,958 | |
Strauss Group Ltd. | 13,500 | 196,773 | |
Tadiran Group Ltd. | 700 | 34,992 | |
Teva Pharmaceutical Industries Ltd. ADR(3) | 38,500 | 671,055 | |
Tower Semiconductor Ltd.(3) | 2,200 | 88,649 | |
$ 6,684,172 | |||
Italy — 4.3% | |||
Banca Popolare di Sondrio SpA | 5,500 | $ 41,916 | |
Banco BPM SpA(1) | 34,300 | 237,482 | |
BFF Bank SpA(4) | 8,900 | 100,603 | |
Bio On SpA(1)(3)(5) | 12,900 | 0 | |
BPER Banca SpA | 32,400 | 189,573 | |
Buzzi SpA | 11,469 | 449,631 | |
Cementir Holding NV | 9,771 | 110,192 | |
Danieli & C Officine Meccaniche SpA(1) | 3,000 | 116,898 | |
Davide Campari-Milano NV(1) | 70,565 | 636,388 | |
De’Longhi SpA | 2,450 | 77,225 | |
Enav SpA(4) | 10,420 | 44,569 | |
Enel SpA | 163,666 | 1,168,440 | |
Eni SpA | 113,231 | 1,811,672 | |
Ferrari NV | 1,998 | 822,322 | |
Fila SpA(1) | 5,500 | 53,104 | |
Fincantieri SpA(1)(3) | 12,800 | 71,311 | |
Generali | 15,753 | 407,735 | |
Infrastrutture Wireless Italiane SpA(1)(4) | 54,778 | 609,527 | |
Italgas SpA | 24,300 | 129,936 | |
Juventus Football Club SpA(1)(3) | 77,177 | 198,654 | |
Leonardo SpA | 23,600 | 562,279 | |
Maire SpA | 21,145 | 167,781 | |
PRADA SpA | 8,700 | 62,721 | |
Prysmian SpA | 12,684 | 871,955 | |
RAI Way SpA(4) | 24,200 | 130,463 | |
Recordati Industria Chimica e Farmaceutica SpA | 17,347 | 944,426 |
Security | Shares | Value | |
Italy (continued) | |||
Sesa SpA(1) | 1,200 | $ 131,863 | |
Snam SpA(1) | 44,200 | 211,215 | |
Stellantis NV | 32,130 | 535,416 | |
Stevanato Group SpA(1) | 17,000 | 351,560 | |
STMicroelectronics NV | 37,377 | 1,235,880 | |
Technogym SpA(1)(4) | 13,845 | 135,784 | |
Technoprobe SpA(3) | 16,800 | 152,859 | |
Terna - Rete Elettrica Nazionale(1) | 36,600 | 304,777 | |
UniCredit SpA | 17,146 | 704,267 | |
Unipol Gruppo SpA | 13,700 | 147,609 | |
$ 13,928,033 | |||
Japan — 13.3% | |||
Activia Properties, Inc. | 88 | $ 208,180 | |
Advance Residence Investment Corp.(1) | 45 | 94,409 | |
Aeon Co. Ltd. | 13,500 | 308,024 | |
AEON REIT Investment Corp.(1) | 134 | 115,792 | |
AGC, Inc. | 1,900 | 68,001 | |
Air Water, Inc. | 12,300 | 180,700 | |
Alfresa Holdings Corp. | 13,900 | 217,151 | |
Asahi Kasei Corp. | 35,100 | 253,115 | |
Astellas Pharma, Inc. | 37,200 | 431,444 | |
Azbil Corp. | 3,900 | 113,331 | |
Bandai Namco Holdings, Inc. | 12,600 | 267,759 | |
Bridgestone Corp. | 4,300 | 175,327 | |
Brother Industries Ltd. | 7,500 | 153,873 | |
Calbee, Inc. | 7,600 | 174,456 | |
Canon, Inc. | 8,200 | 256,674 | |
Central Japan Railway Co. | 8,500 | 200,404 | |
Chiba Bank Ltd. | 14,600 | 136,765 | |
Chubu Electric Power Co., Inc. | 45,200 | 569,905 | |
Comforia Residential REIT, Inc.(1) | 66 | 136,922 | |
Concordia Financial Group Ltd. | 17,300 | 109,033 | |
Dai Nippon Printing Co. Ltd.(1) | 3,700 | 121,723 | |
Daicel Corp. | 19,800 | 192,472 | |
Daiichi Sankyo Co. Ltd. | 24,500 | 997,828 | |
Daiwa House Industry Co. Ltd. | 16,600 | 470,085 | |
Daiwa House REIT Investment Corp.(1) | 54 | 86,903 | |
Daiwa Office Investment Corp.(1) | 70 | 137,128 | |
DeNA Co. Ltd. | 17,400 | 179,874 | |
Denka Co. Ltd. | 7,700 | 112,212 | |
DIC Corp. | 5,600 | 115,200 | |
East Japan Railway Co. | 8,400 | 160,049 | |
Eisai Co. Ltd.(1) | 6,000 | 228,816 | |
Electric Power Development Co. Ltd. | 13,500 | 223,166 | |
ENEOS Holdings, Inc. | 160,000 | 838,326 |
Security | Shares | Value | |
Japan (continued) | |||
Ezaki Glico Co. Ltd. | 3,300 | $ 101,356 | |
Frontier Real Estate Investment Corp. | 72 | 208,721 | |
FUJIFILM Holdings Corp. | 13,800 | 328,108 | |
Fujitsu Ltd. | 11,800 | 214,290 | |
Fukuoka Financial Group, Inc. | 5,500 | 154,269 | |
GLP J-Reit | 270 | 236,543 | |
Hamamatsu Photonics KK(1) | 3,600 | 103,676 | |
Hankyu Hanshin Holdings, Inc. | 4,400 | 125,549 | |
Hikari Tsushin, Inc. | 400 | 74,902 | |
Hirose Electric Co. Ltd. | 1,040 | 130,212 | |
Hisamitsu Pharmaceutical Co., Inc.(1) | 4,700 | 129,456 | |
Honda Motor Co. Ltd. | 30,300 | 323,743 | |
House Foods Group, Inc. | 7,700 | 151,901 | |
Hulic Reit, Inc. | 127 | 120,885 | |
Inpex Corp. | 11,800 | 182,210 | |
Invincible Investment Corp.(1) | 244 | 110,520 | |
Isuzu Motors Ltd. | 14,200 | 192,085 | |
Ito En Ltd. | 3,200 | 75,865 | |
ITOCHU Corp. | 7,100 | 364,112 | |
Iwatani Corp. | ��� 5,800 | 368,074 | |
Japan Logistics Fund, Inc.(1) | 71 | 121,466 | |
Japan Metropolitan Fund Investment Corp. | 214 | 133,621 | |
Japan Petroleum Exploration Co. Ltd. | 4,700 | 193,794 | |
Japan Post Bank Co. Ltd. | 23,900 | 248,707 | |
Japan Post Holdings Co. Ltd. | 24,400 | 258,407 | |
Japan Post Insurance Co. Ltd. | 9,300 | 191,464 | |
Japan Prime Realty Investment Corp. | 103 | 224,102 | |
Japan Real Estate Investment Corp.(1) | 67 | 232,390 | |
Japan Tobacco, Inc. | 18,300 | 538,481 | |
Kagome Co. Ltd. | 6,400 | 149,489 | |
Kajima Corp.(1) | 5,200 | 100,482 | |
Kaneka Corp. | 6,400 | 180,953 | |
Kansai Electric Power Co., Inc. | 33,400 | 571,667 | |
Kansai Paint Co. Ltd. | 8,900 | 146,168 | |
Kao Corp. | 6,900 | 302,149 | |
Kawasaki Kisen Kaisha Ltd. | 5,100 | 78,362 | |
KDDI Corp. | 37,700 | 1,134,393 | |
KDX Realty Investment Corp. | 186 | 191,761 | |
Keio Corp. | 2,200 | 55,086 | |
Keisei Electric Railway Co. Ltd.(1) | 2,300 | 68,791 | |
Kewpie Corp. | 4,800 | 123,284 | |
Keyence Corp. | 1,300 | 568,438 | |
Kintetsu Group Holdings Co. Ltd.(1) | 2,200 | 50,952 | |
Kirin Holdings Co. Ltd. | 19,400 | 274,269 | |
Kobe Steel Ltd. | 13,300 | 166,015 | |
Komatsu Ltd. | 5,800 | 164,880 |
Security | Shares | Value | |
Japan (continued) | |||
Kuraray Co. Ltd. | 8,500 | $ 103,947 | |
Kyocera Corp. | 13,600 | 171,291 | |
Kyowa Kirin Co. Ltd. | 9,500 | 200,380 | |
LaSalle Logiport REIT | 165 | 162,794 | |
Lion Corp. | 17,300 | 149,710 | |
Marubeni Corp. | 7,500 | 141,148 | |
Marui Group Co. Ltd. | 6,800 | 110,172 | |
Maruichi Steel Tube Ltd. | 2,500 | 60,923 | |
MatsukiyoCocokara & Co. | 11,400 | 185,910 | |
Mebuki Financial Group, Inc. | 32,600 | 135,696 | |
Medipal Holdings Corp. | 12,500 | 225,628 | |
MEIJI Holdings Co. Ltd.(1) | 6,000 | 151,526 | |
Mitsubishi Chemical Group Corp. | 27,100 | 160,059 | |
Mitsubishi Corp. | 19,700 | 406,845 | |
Mitsubishi Electric Corp. | 7,900 | 131,628 | |
Mitsubishi Gas Chemical Co., Inc. | 4,700 | 88,854 | |
Mitsubishi HC Capital, Inc. | 33,500 | 241,013 | |
Mitsubishi Heavy Industries Ltd. | 19,700 | 236,126 | |
Mitsubishi Materials Corp. | 7,200 | 134,902 | |
Mitsui & Co. Ltd. | 15,600 | 361,981 | |
Mitsui Chemicals, Inc. | 6,500 | 187,928 | |
Mitsui OSK Lines Ltd.(1) | 2,200 | 69,879 | |
Mizuho Financial Group, Inc. | 22,080 | 504,752 | |
MS&AD Insurance Group Holdings, Inc. | 15,600 | 367,763 | |
Murata Manufacturing Co. Ltd. | 16,500 | 367,092 | |
NEC Corp. | 2,000 | 173,109 | |
NH Foods Ltd. | 5,400 | 178,368 | |
Nichirei Corp. | 4,500 | 118,655 | |
Nihon Kohden Corp. | 11,800 | 181,831 | |
Nintendo Co. Ltd. | 23,500 | 1,298,572 | |
Nippon Accommodations Fund, Inc.(1) | 49 | 209,671 | |
Nippon Building Fund, Inc. | 38 | 146,652 | |
Nippon Express Holdings, Inc.(1) | 1,500 | 74,221 | |
Nippon Kayaku Co. Ltd. | 17,700 | 148,018 | |
Nippon Paper Industries Co. Ltd. | 10,000 | 64,756 | |
Nippon Shinyaku Co. Ltd. | 4,300 | 98,322 | |
Nippon Shokubai Co. Ltd. | 14,000 | 151,804 | |
Nippon Steel Corp. | 14,800 | 321,343 | |
Nippon Telegraph & Telephone Corp. | 971,200 | 1,035,021 | |
Nippon Yusen KK | 3,000 | 96,672 | |
Nisshin Seifun Group, Inc. | 12,500 | 154,680 | |
Nissin Foods Holdings Co. Ltd. | 6,600 | 196,236 | |
Nitori Holdings Co. Ltd. | 1,600 | 195,673 | |
Nomura Real Estate Master Fund, Inc. | 292 | 286,466 | |
Nomura Research Institute Ltd.(1) | 6,700 | 206,840 | |
NTT Data Group Corp. | 10,500 | 163,531 |
Security | Shares | Value | |
Japan (continued) | |||
Obayashi Corp. | 10,500 | $ 137,858 | |
Obic Co. Ltd.(1) | 900 | 137,235 | |
Odakyu Electric Railway Co. Ltd.(1) | 5,100 | 51,598 | |
Oji Holdings Corp. | 48,300 | 205,708 | |
Ono Pharmaceutical Co. Ltd. | 12,100 | 178,503 | |
Oracle Corp. | 1,900 | 155,095 | |
Oriental Land Co. Ltd. | 7,300 | 208,995 | |
Orix JREIT, Inc. | 227 | 236,332 | |
Osaka Gas Co. Ltd. | 25,700 | 581,697 | |
Otsuka Corp. | 8,800 | 195,076 | |
Otsuka Holdings Co. Ltd. | 6,600 | 336,391 | |
Pan Pacific International Holdings Corp. | 4,600 | 120,010 | |
Panasonic Holdings Corp. | 23,100 | 189,216 | |
Resona Holdings, Inc. | 21,300 | 152,741 | |
Ricoh Co. Ltd. | 15,500 | 144,294 | |
Rinnai Corp.(1) | 5,100 | 125,399 | |
Rohm Co. Ltd.(1) | 6,400 | 87,259 | |
Rohto Pharmaceutical Co. Ltd. | 8,900 | 209,051 | |
Ryohin Keikaku Co. Ltd. | 9,000 | 169,720 | |
Santen Pharmaceutical Co. Ltd. | 16,700 | 200,420 | |
Sapporo Holdings Ltd. | 4,500 | 193,343 | |
Sawai Group Holdings Co. Ltd. | 3,400 | 149,259 | |
Secom Co. Ltd. | 2,000 | 127,706 | |
Seiko Epson Corp.(1) | 6,500 | 112,518 | |
Sekisui Chemical Co. Ltd. | 11,000 | 165,968 | |
Sekisui House Ltd.(1) | 8,600 | 215,484 | |
Sekisui House Reit, Inc. | 380 | 200,797 | |
Seven Bank Ltd. | 101,900 | 191,169 | |
SG Holdings Co. Ltd. | 12,200 | 124,057 | |
Shimadzu Corp. | 4,900 | 144,522 | |
Shimizu Corp.(1) | 15,300 | 96,160 | |
Shionogi & Co. Ltd. | 5,300 | 233,142 | |
Shizuoka Financial Group, Inc. | 10,200 | 101,881 | |
SoftBank Corp. | 60,800 | 793,121 | |
Sompo Holdings, Inc. | 8,000 | 182,415 | |
Subaru Corp. | 10,700 | 205,724 | |
SUMCO Corp. | 4,800 | 78,914 | |
Sumitomo Chemical Co. Ltd.(1) | 82,600 | 211,741 | |
Sumitomo Corp. | 9,500 | 236,052 | |
Sumitomo Electric Industries Ltd. | 15,500 | 234,470 | |
Sumitomo Mitsui Financial Group, Inc. | 8,000 | 577,703 | |
Sumitomo Mitsui Trust Holdings, Inc. | 6,200 | 156,716 | |
Suntory Beverage & Food Ltd. | 5,700 | 204,722 | |
Suzuken Co. Ltd. | 5,100 | 185,863 | |
Suzuki Motor Corp. | 11,100 | 127,563 | |
Taiheiyo Cement Corp. | 5,200 | 142,028 |
Security | Shares | Value | |
Japan (continued) | |||
Taisei Corp.(1) | 1,300 | $ 55,213 | |
Takeda Pharmaceutical Co. Ltd. | 18,600 | 522,181 | |
Teijin Ltd. | 12,200 | 117,401 | |
TIS, Inc. | 8,700 | 186,366 | |
Tobu Railway Co. Ltd. | 3,200 | 56,211 | |
Tohoku Electric Power Co., Inc. | 34,800 | 295,893 | |
Tokai Carbon Co. Ltd.(1) | 18,400 | 117,917 | |
Tokio Marine Holdings, Inc. | 12,100 | 474,721 | |
Tokyu Corp. | 9,800 | 118,731 | |
TOPPAN Holdings, Inc. | 2,400 | 67,887 | |
Toray Industries, Inc. | 41,100 | 213,681 | |
Tosoh Corp. | 14,900 | 202,689 | |
Toyo Seikan Group Holdings Ltd. | 11,300 | 194,024 | |
Toyo Suisan Kaisha Ltd. | 3,100 | 208,152 | |
Toyota Motor Corp. | 59,400 | 1,141,119 | |
Trend Micro, Inc. | 3,900 | 186,937 | |
United Urban Investment Corp. | 262 | 250,786 | |
USS Co. Ltd. | 16,200 | 146,116 | |
West Japan Railway Co. | 4,900 | 96,466 | |
Yakult Honsha Co. Ltd. | 8,900 | 182,498 | |
Yamaguchi Financial Group, Inc. | 12,900 | 160,359 | |
Yamato Holdings Co. Ltd. | 6,600 | 80,158 | |
Yamato Kogyo Co. Ltd. | 3,200 | 169,109 | |
Yamazaki Baking Co. Ltd. | 5,700 | 140,936 | |
Yokogawa Electric Corp. | 2,400 | 60,749 | |
Zeon Corp. | 17,700 | 156,328 | |
$ 43,577,747 | |||
Netherlands — 4.3% | |||
ABN AMRO Bank NV(4) | 28,000 | $ 488,792 | |
ASML Holding NV | 1,963 | 1,827,889 | |
ASR Nederland NV(1) | 5,490 | 275,830 | |
DSM-Firmenich AG | 13,608 | 1,737,318 | |
Euronext NV(4) | 3,900 | 394,301 | |
JDE Peet's NV(1) | 24,360 | 535,693 | |
Koninklijke Ahold Delhaize NV | 39,012 | 1,256,779 | |
Koninklijke KPN NV | 150,427 | 592,710 | |
Koninklijke Philips NV(3) | 59,576 | 1,673,471 | |
NN Group NV | 9,850 | 494,314 | |
NSI NV | 4,268 | 90,496 | |
Pharming Group NV(1)(3) | 127,000 | 109,935 | |
Prosus NV | 44,242 | 1,543,306 | |
Randstad NV(1) | 6,350 | 309,277 | |
SBM Offshore NV(1) | 23,217 | 376,261 | |
Universal Music Group NV(1) | 35,248 | 839,765 | |
Van Lanschot Kempen NV | 2,900 | 125,510 |
Security | Shares | Value | |
Netherlands (continued) | |||
Vastned Retail NV(1) | 7,610 | $ 192,844 | |
Wolters Kluwer NV | 8,194 | 1,371,752 | |
$ 14,236,243 | |||
New Zealand — 1.1% | |||
a2 Milk Co. Ltd.(1)(3) | 106,246 | $ 501,531 | |
Argosy Property Ltd. | 225,595 | 141,784 | |
Auckland International Airport Ltd.(1) | 60,252 | 268,404 | |
Contact Energy Ltd.(1) | 46,451 | 235,030 | |
EBOS Group Ltd.(1) | 4,100 | 87,967 | |
Fisher & Paykel Healthcare Corp. Ltd. | 20,554 | 396,791 | |
Goodman Property Trust(1) | 267,638 | 329,289 | |
Heartland Group Holdings Ltd.(1) | 53,899 | 34,238 | |
Infratil Ltd.(1) | 32,311 | 207,575 | |
Meridian Energy Ltd. | 52,500 | 203,437 | |
SKYCITY Entertainment Group Ltd.(1) | 128,539 | 119,134 | |
Spark New Zealand Ltd. | 154,931 | 398,170 | |
Vulcan Steel Ltd. | 20,400 | 83,470 | |
Xero Ltd.(3) | 5,551 | 505,791 | |
$ 3,512,611 | |||
Norway — 2.2% | |||
Atea ASA | 23,356 | $ 310,824 | |
Austevoll Seafood ASA | 8,518 | 70,347 | |
Borregaard ASA | 13,695 | 234,524 | |
Crayon Group Holding ASA(3)(4) | 23,649 | 282,144 | |
DNB Bank ASA | 30,642 | 633,065 | |
Elkem ASA(3)(4) | 88,300 | 184,277 | |
Elmera Group ASA(4) | 31,479 | 97,972 | |
Entra ASA(3)(4) | 11,383 | 127,956 | |
Equinor ASA | 34,553 | 914,970 | |
Europris ASA(4) | 28,457 | 169,793 | |
Gjensidige Forsikring ASA | 10,900 | 184,404 | |
Golden Ocean Group Ltd. | 10,700 | 132,986 | |
Grieg Seafood ASA | 14,900 | 86,912 | |
Hoegh Autoliners ASA | 7,528 | 82,286 | |
Kitron ASA | 56,984 | 189,985 | |
Kongsberg Gruppen ASA | 4,926 | 495,332 | |
Mowi ASA | 22,000 | 371,327 | |
MPC Container Ships ASA | 46,200 | 96,929 | |
Norske Skog ASA(4) | 35,100 | 130,330 | |
Opera Ltd. ADR(1) | 7,000 | 88,060 | |
Orkla ASA | 42,632 | 359,792 | |
Protector Forsikring ASA | 5,000 | 103,330 | |
REC Silicon ASA(3) | 93,387 | 76,646 | |
Scatec ASA(3)(4) | 15,637 | 126,216 |
Security | Shares | Value | |
Norway (continued) | |||
Schibsted ASA, Class B | 9,834 | $ 267,315 | |
Stolt-Nielsen Ltd. | 2,502 | 98,122 | |
Telenor ASA | 58,657 | 699,340 | |
Wallenius Wilhelmsen ASA | 10,496 | 97,594 | |
Yara International ASA | 14,014 | 399,208 | |
$ 7,111,986 | |||
Portugal — 1.0% | |||
Altri SGPS SA | 20,700 | $ 112,529 | |
Banco Comercial Portugues SA, Class R | 1,412,694 | 595,525 | |
EDP SA | 128,236 | 528,520 | |
Galp Energia SGPS SA | 27,566 | 579,614 | |
Jeronimo Martins SGPS SA | 27,221 | 475,622 | |
Mota-Engil SGPS SA(1) | 76,170 | 298,868 | |
Navigator Co. SA | 123,108 | 499,502 | |
NOS SGPS SA | 51,948 | 199,868 | |
REN - Redes Energeticas Nacionais SGPS SA | 47,100 | 119,445 | |
$ 3,409,493 | |||
Singapore — 4.3% | |||
AEM Holdings Ltd.(3) | 27,774 | $ 35,041 | |
BW LPG Ltd.(4) | 14,991 | 243,668 | |
CapitaLand Ascendas REIT | 157,300 | 321,137 | |
CapitaLand Ascott Trust | 258,525 | 174,551 | |
CapitaLand Integrated Commercial Trust | 206,800 | 323,029 | |
City Developments Ltd. | 29,900 | 119,201 | |
ComfortDelGro Corp. Ltd. | 276,300 | 289,871 | |
DBS Group Holdings Ltd. | 42,090 | 1,153,410 | |
Flex Ltd.(3) | 46,700 | 1,501,405 | |
Frasers Centrepoint Trust | 125,300 | 207,587 | |
Genting Singapore Ltd. | 1,118,900 | 711,008 | |
Haw Par Corp. Ltd. | 16,900 | 131,956 | |
Jardine Cycle & Carriage Ltd.(1) | 13,100 | 255,082 | |
Keppel Ltd. | 103,100 | 513,115 | |
Keppel REIT | 183,800 | 120,480 | |
Lendlease Global Commercial REIT | 252,800 | 112,819 | |
Mapletree Industrial Trust | 157,310 | 272,950 | |
Nanofilm Technologies International Ltd.(1)(2) | 358,100 | 228,798 | |
Netlink NBN Trust(2) | 515,700 | 328,134 | |
Oversea-Chinese Banking Corp. Ltd. | 83,400 | 928,296 | |
Parkway Life Real Estate Investment Trust | 33,400 | 90,865 | |
Raffles Medical Group Ltd. | 240,800 | 169,280 | |
SATS Ltd. | 147,100 | 361,619 | |
Sembcorp Industries Ltd. | 158,800 | 567,800 | |
Sheng Siong Group Ltd. | 356,700 | 410,825 | |
Singapore Exchange Ltd. | 40,800 | 300,814 |
Security | Shares | Value | |
Singapore (continued) | |||
Singapore Post Ltd. | 292,300 | $ 96,366 | |
Singapore Technologies Engineering Ltd. | 132,500 | 438,678 | |
Singapore Telecommunications Ltd.(6) | 628,900 | 1,456,952 | |
Singapore Telecommunications Ltd.(6) | 84,700 | 196,024 | |
Suntec Real Estate Investment Trust(1) | 241,900 | 214,061 | |
UMS Holdings Ltd. | 83,625 | 70,286 | |
Venture Corp. Ltd. | 30,600 | 346,403 | |
Wilmar International Ltd. | 645,700 | 1,539,693 | |
$ 14,231,204 | |||
Spain — 4.3% | |||
ACS Actividades de Construccion y Servicios SA(1) | 12,417 | $ 554,777 | |
Almirall SA(1) | 23,820 | 237,458 | |
Banco Bilbao Vizcaya Argentaria SA | 72,109 | 755,790 | |
Banco de Sabadell SA | 110,106 | 232,350 | |
Bankinter SA(1) | 23,808 | 203,355 | |
CaixaBank SA | 73,166 | 426,721 | |
Cia de Distribucion Integral Logista Holdings SA | 12,197 | 361,204 | |
Enagas SA | 10,500 | 157,415 | |
Ence Energia y Celulosa SA(1)(3) | 44,821 | 157,470 | |
Ferrovial SE(1) | 23,695 | 942,250 | |
Grifols SA(1)(3) | 46,595 | 470,635 | |
Iberdrola SA | 106,150 | 1,402,050 | |
Indra Sistemas SA(1) | 15,200 | 304,819 | |
Industria de Diseno Textil SA | 36,003 | 1,749,345 | |
Laboratorios Farmaceuticos Rovi SA | 3,948 | 379,854 | |
Mapfre SA(1) | 69,417 | 168,227 | |
Merlin Properties Socimi SA | 64,351 | 734,880 | |
Redeia Corp. SA | 15,578 | 276,585 | |
Repsol SA | 114,666 | 1,635,472 | |
Telefonica SA(1) | 418,115 | 1,893,742 | |
Tubacex SA(1) | 28,949 | 90,115 | |
Unicaja Banco SA(4) | 101,024 | 135,980 | |
Vidrala SA(1) | 3,822 | 397,765 | |
Viscofan SA(1) | 6,330 | 422,071 | |
$ 14,090,330 | |||
Sweden — 4.3% | |||
AcadeMedia AB(4) | 13,600 | $ 69,909 | |
Alfa Laval AB | 2,550 | 112,751 | |
Arjo AB, Class B | 29,560 | 114,564 | |
Assa Abloy AB, Class B | 7,310 | 222,621 | |
Atlas Copco AB, Class B | 10,155 | 158,884 | |
Atrium Ljungberg AB, Class B | 7,700 | 164,698 | |
Attendo AB(4) | 28,200 | 123,384 | |
Betsson AB, Class B | 10,576 | 125,885 |
Security | Shares | Value | |
Sweden (continued) | |||
Bilia AB, Class A | 4,231 | $ 52,662 | |
Billerud Aktiebolag | 13,640 | 137,349 | |
BioArctic AB(1)(3)(4) | 4,601 | 68,946 | |
BioGaia AB, Class B | 14,545 | 173,353 | |
Boliden AB | 17,900 | 547,428 | |
BoneSupport Holding AB(3)(4) | 5,145 | 144,991 | |
Calliditas Therapeutics AB, Class B(3) | 8,300 | 159,820 | |
Camurus AB(3) | 2,945 | 186,377 | |
Catena AB | 3,500 | 178,179 | |
Cibus Nordic Real Estate AB(1) | 5,400 | 84,345 | |
Dios Fastigheter AB | 10,737 | 86,183 | |
Electrolux AB, Class B(1)(3) | 7,800 | 69,478 | |
Elekta AB, Class B | 29,760 | 186,836 | |
Epiroc AB, Class A | 7,626 | 142,342 | |
Epiroc AB, Class B | 7,415 | 124,679 | |
Essity AB, Class B | 59,037 | 1,659,903 | |
Evolution AB(4) | 5,726 | 554,673 | |
Fabege AB(1) | 17,418 | 146,061 | |
H & M Hennes & Mauritz AB, Class B(1) | 19,300 | 300,259 | |
Hemnet Group AB | 6,200 | 229,719 | |
Hexagon AB, Class B | 68,543 | 698,072 | |
Holmen AB, Class B(1) | 8,087 | 317,916 | |
Hufvudstaden AB, Class A | 13,759 | 166,754 | |
Investor AB, Class A | 7,195 | 203,407 | |
Investor AB, Class B | 16,500 | 468,437 | |
Kindred Group PLC SDR | 12,900 | 152,419 | |
L E Lundbergforetagen AB, Class B(1) | 2,400 | 121,328 | |
Loomis AB | 3,200 | 101,969 | |
Millicom International Cellular SA SDR(3) | 6,813 | 169,607 | |
Modern Times Group MTG AB, Class B(3) | 11,200 | 86,004 | |
Munters Group AB(4) | 3,200 | 69,280 | |
Mycronic AB | 5,660 | 198,475 | |
Nyfosa AB | 14,073 | 144,029 | |
Orron Energy AB(1)(3) | 29,152 | 20,818 | |
Pandox AB(1) | 7,833 | 145,312 | |
Paradox Interactive AB | 8,600 | 123,244 | |
Saab AB, Class B(1) | 2,029 | 46,852 | |
Sagax AB, Class D | 22,302 | 65,405 | |
Scandic Hotels Group AB(1)(3)(4) | 10,354 | 63,016 | |
Securitas AB, Class B(1) | 6,891 | 74,131 | |
Skandinaviska Enskilda Banken AB, Class A | 17,300 | 266,065 | |
Skanska AB, Class B(1) | 5,700 | 111,445 | |
SKF AB, Class B | 6,500 | 120,841 | |
SkiStar AB(1) | 4,900 | 72,158 | |
Spotify Technology SA(3) | 1,200 | 412,728 | |
Stillfront Group AB(1)(3) | 88,200 | 73,745 |
Security | Shares | Value | |
Sweden (continued) | |||
Svenska Cellulosa AB SCA, Class B | 33,297 | $ 452,629 | |
Svenska Handelsbanken AB, Class A | 27,475 | 277,329 | |
Swedbank AB, Class A | 11,851 | 251,999 | |
Swedish Orphan Biovitrum AB(3) | 15,239 | 397,027 | |
Tele2 AB, Class B | 25,840 | 266,040 | |
Telefonaktiebolaget LM Ericsson, Class B | 86,088 | 591,929 | |
Telia Co. AB | 107,400 | 312,144 | |
Tethys Oil AB | 12,500 | 41,714 | |
Trelleborg AB, Class B | 1,319 | 49,017 | |
Volvo AB, Class A | 2,100 | 54,593 | |
Volvo AB, Class B | 11,484 | 293,080 | |
Wallenstam AB, Class B(1) | 43,000 | 216,900 | |
Wihlborgs Fastigheter AB(1) | 19,312 | 195,612 | |
$ 14,219,749 | |||
Switzerland — 8.5% | |||
ABB Ltd. | 29,293 | $ 1,625,955 | |
ALSO Holding AG | 1,032 | 312,893 | |
Avolta AG(1) | 6,186 | 233,407 | |
Baloise Holding AG(1) | 2,089 | 373,850 | |
Banque Cantonale Vaudoise(1) | 2,902 | 308,040 | |
BKW AG(1) | 1,229 | 222,316 | |
Cembra Money Bank AG | 1,482 | 129,411 | |
Cie Financiere Richemont SA, Class A | 19,731 | 3,009,595 | |
DKSH Holding AG | 3,161 | 247,277 | |
Flughafen Zurich AG | 667 | 154,366 | |
Forbo Holding AG | 151 | 162,651 | |
Galenica AG(1)(4) | 4,789 | 416,538 | |
Givaudan SA | 379 | 1,859,395 | |
Helvetia Holding AG(1) | 1,702 | 253,903 | |
Holcim AG | 21,705 | 2,028,341 | |
Huber & Suhner AG | 2,310 | 202,274 | |
Intershop Holding AG | 1,170 | 156,127 | |
Kuehne & Nagel International AG | 1,484 | 460,026 | |
Landis & Gyr Group AG | 2,826 | 255,982 | |
Logitech International SA | 12,041 | 1,084,607 | |
Nestle SA | 37,299 | 3,778,112 | |
Novartis AG | 17,463 | 1,949,357 | |
PSP Swiss Property AG | 3,726 | 497,909 | |
Roche Holding AG | 4,831 | 1,564,082 | |
Schindler Holding AG | 493 | 129,432 | |
Schindler Holding AG PC | 950 | 254,271 | |
SFS Group AG | 1,457 | 212,776 | |
SGS SA | 3,535 | 386,493 | |
Softwareone Holding AG | 12,174 | 243,059 | |
Stadler Rail AG(1) | 3,258 | 99,712 |
Security | Shares | Value | |
Switzerland (continued) | |||
Swatch Group AG | 4,878 | $ 197,791 | |
Swatch Group AG, Bearer Shares | 1,819 | 374,632 | |
Swiss Life Holding AG | 736 | 563,565 | |
Swiss Prime Site AG | 5,502 | 551,412 | |
Swiss Re AG | 5,501 | 678,182 | |
Swisscom AG | 1,563 | 956,622 | |
u-blox Holding AG(1) | 1,652 | 151,134 | |
Valiant Holding AG | 2,200 | 249,453 | |
Zurich Insurance Group AG | 2,437 | 1,339,790 | |
$ 27,674,738 | |||
United Kingdom — 8.5% | |||
Admiral Group PLC | 8,300 | $ 294,149 | |
Airtel Africa PLC(4) | 207,600 | 304,369 | |
Assura PLC | 414,500 | 217,524 | |
AstraZeneca PLC | 11,734 | 1,864,190 | |
Aviva PLC | 41,189 | 265,334 | |
B&M European Value Retail SA | 40,600 | 244,492 | |
BAE Systems PLC | 26,433 | 440,852 | |
Balfour Beatty PLC | 28,400 | 153,330 | |
Berkeley Group Holdings PLC | 4,063 | 265,242 | |
Big Yellow Group PLC | 17,197 | 267,438 | |
BP PLC | 24,100 | 142,458 | |
British American Tobacco PLC | 22,700 | 805,419 | |
British Land Co. PLC | 45,700 | 242,224 | |
BT Group PLC(1) | 216,200 | 392,079 | |
Bunzl PLC | 6,800 | 284,916 | |
Centamin PLC | 65,400 | 106,817 | |
Centrica PLC | 473,500 | 807,305 | |
Compass Group PLC | 26,763 | 824,167 | |
Computacenter PLC | 11,000 | 380,887 | |
Darktrace PLC(3) | 25,900 | 196,973 | |
Derwent London PLC | 8,900 | 263,997 | |
Direct Line Insurance Group PLC | 42,288 | 102,592 | |
Endeavour Mining PLC | 9,200 | 205,505 | |
Fresnillo PLC | 27,700 | 209,908 | |
Glencore PLC | 150,700 | 836,210 | |
Grainger PLC | 69,506 | 215,892 | |
Great Portland Estates PLC | 23,683 | 106,867 | |
GSK PLC | 34,700 | 673,832 | |
Hays PLC | 79,300 | 96,106 | |
Hiscox Ltd. | 11,000 | 179,638 | |
HSBC Holdings PLC | 114,284 | 1,039,310 | |
Inchcape PLC | 17,200 | 187,058 | |
Informa PLC | 63,600 | 710,741 | |
InterContinental Hotels Group PLC | 3,400 | 342,535 |
Security | Shares | Value | |
United Kingdom (continued) | |||
Intertek Group PLC | 4,100 | $ 266,246 | |
Johnson Matthey PLC | 9,541 | 201,523 | |
Land Securities Group PLC | 46,900 | 383,520 | |
London Stock Exchange Group PLC | 3,113 | 378,932 | |
Manchester United PLC, Class A(1)(3) | 12,618 | 216,525 | |
MONY Group PLC | 45,000 | 137,369 | |
National Grid PLC | 135,365 | 1,717,535 | |
NCC Group PLC | 72,058 | 136,707 | |
Next PLC | 2,800 | 327,263 | |
Pearson PLC | 9,814 | 133,156 | |
Primary Health Properties PLC | 125,322 | 149,280 | |
QinetiQ Group PLC | 30,200 | 187,613 | |
Reckitt Benckiser Group PLC | 11,800 | 634,765 | |
RELX PLC | 12,880 | 607,904 | |
Rentokil Initial PLC | 29,900 | 182,574 | |
Rio Tinto PLC | 14,942 | 971,722 | |
Sage Group PLC | 61,900 | 865,272 | |
Shaftesbury Capital PLC | 167,685 | 328,431 | |
Shell PLC | 66,703 | 2,432,250 | |
Smiths Group PLC | 4,900 | 112,549 | |
Spectris PLC | 11,200 | 439,345 | |
Spirent Communications PLC | 155,600 | 347,552 | |
Standard Chartered PLC | 36,700 | 362,533 | |
Supermarket Income REIT PLC | 214,900 | 206,979 | |
Unilever PLC | 17,321 | 1,064,456 | |
UNITE Group PLC | 16,300 | 199,793 | |
Vodafone Group PLC | 835,500 | 781,819 | |
Weir Group PLC | 9,500 | 247,996 | |
Whitbread PLC | 6,200 | 232,314 | |
$ 27,924,279 | |||
Total Common Stocks (identified cost $263,896,638) | $325,306,506 |
Warrants — 0.0% |
Security | Shares | Value | |
Webuild SpA, Exp. 8/2/30(1)(3)(5) | 15,093 | $ 0 | |
Total Warrants (identified cost $0) | $ 0 |
Short-Term Investments — 4.1% |
Affiliated Fund — 0.0%(7) |
Security | Shares | Value | |
Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 5.21%(8) | 8,287 | $ 8,287 | |
Total Affiliated Fund (identified cost $8,287) | $ 8,287 |
Securities Lending Collateral — 4.1% |
Security | Shares | Value | |
State Street Navigator Securities Lending Government Money Market Portfolio, 5.31%(9) | 13,511,849 | $ 13,511,849 | |
Total Securities Lending Collateral (identified cost $13,511,849) | $ 13,511,849 | ||
Total Short-Term Investments (identified cost $13,520,136) | $ 13,520,136 |
Total Investments — 103.4% (identified cost $277,416,774) | $338,826,642 | ||
Other Assets, Less Liabilities — (3.4)% | $(11,142,565) | ||
Net Assets — 100.0% | $327,684,077 |
The percentage shown for each investment category in the Portfolio of Investments is based on net assets. | |
(1) | All or a portion of this security was on loan at July 31, 2024. The aggregate market value of securities on loan at July 31, 2024 was $29,826,864. |
(2) | Security exempt from registration under Regulation S of the Securities Act of 1933, as amended, which exempts from registration securities offered and sold outside the United States. Security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933, as amended. At July 31, 2024, the aggregate value of these securities is $1,526,799 or 0.5% of the Fund's net assets. |
(3) | Non-income producing security. |
(4) | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At July 31, 2024, the aggregate value of these securities is $7,528,408 or 2.3% of the Fund's net assets. |
(5) | For fair value measurement disclosure purposes, security is categorized as Level 3. |
(6) | Securities are traded on separate exchanges for the same entity. |
(7) | Amount is less than 0.05%. |
(8) | May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of July 31, 2024. |
(9) | Represents investment of cash collateral received in connection with securities lending. |
Sector Classification of Portfolio | ||
Sector | Percentage of Net Assets | Value |
Financials | 11.9% | $38,788,122 |
Industrials | 11.3 | 37,100,406 |
Health Care | 10.2 | 33,492,251 |
Consumer Staples | 10.1 | 32,885,363 |
Consumer Discretionary | 9.8 | 32,207,845 |
Materials | 9.2 | 30,244,985 |
Communication Services | 8.8 | 28,872,272 |
Information Technology | 8.6 | 28,278,035 |
Real Estate | 7.5 | 24,587,842 |
Utilities | 6.9 | 22,665,289 |
Energy | 5.0 | 16,184,096 |
Short-Term Investments | 4.1 | 13,520,136 |
Total Investments | 103.4% | $338,826,642 |
Abbreviations: | |
ADR | – American Depositary Receipt |
CDI | – CHESS Depositary Interest |
PC | – Participation Certificate |
PFC Shares | – Preference Shares |
SDR | – Swedish Depositary Receipt |
July 31, 2024 | |
Assets | |
Unaffiliated investments, at value (identified cost $277,408,487) — including $29,826,864 of securities on loan | $338,818,355 |
Affiliated investments, at value (identified cost $8,287) | 8,287 |
Foreign currency, at value (identified cost $181,198) | 181,171 |
Dividends receivable | 285,855 |
Dividends receivable from affiliated investments | 968 |
Receivable for investments sold | 2,094,972 |
Receivable for Fund shares sold | 283,442 |
Securities lending income receivable | 14,801 |
Tax reclaims receivable | 1,706,799 |
Receivable from affiliates | 11,763 |
Trustees' deferred compensation plan | 31,072 |
Total assets | $343,437,485 |
Liabilities | |
Demand note payable | $520,000 |
Collateral for securities loaned | 13,511,849 |
Payable for Fund shares redeemed | 1,417,600 |
Payable to affiliates: | |
Investment adviser and administration fee | 112,645 |
Distribution and service fees | 8,327 |
Trustees' deferred compensation plan | 31,072 |
Accrued expenses | 151,915 |
Total liabilities | $15,753,408 |
Net Assets | $327,684,077 |
Sources of Net Assets | |
Paid-in capital | $266,350,883 |
Distributable earnings | 61,333,194 |
Net Assets | $327,684,077 |
Class A Shares | |
Net Assets | $32,042,937 |
Shares Outstanding | 2,139,518 |
Net Asset Value and Redemption Price Per Share (net assets ÷ shares of beneficial interest outstanding) | $14.98 |
Maximum Offering Price Per Share (100 ÷ 94.75 of net asset value per share) | $15.81 |
Class I Shares | |
Net Assets | $175,559,596 |
Shares Outstanding | 11,666,904 |
Net Asset Value, Offering Price and Redemption Price Per Share (net assets ÷ shares of beneficial interest outstanding) | $15.05 |
Class R Shares | |
Net Assets | $3,756,538 |
Shares Outstanding | 253,372 |
Net Asset Value, Offering Price and Redemption Price Per Share (net assets ÷ shares of beneficial interest outstanding) | $14.83 |
July 31, 2024 | |
Class R6 Shares | |
Net Assets | $116,325,006 |
Shares Outstanding | 7,747,843 |
Net Asset Value, Offering Price and Redemption Price Per Share (net assets ÷ shares of beneficial interest outstanding) | $15.01 |
On sales of $50,000 or more, the offering price of Class A shares is reduced. |
Six Months Ended | |
July 31, 2024 | |
Investment Income | |
Dividend income (net of foreign taxes withheld of $989,249) | $8,319,614 |
Dividend income from affiliated investments | 7,226 |
Securities lending income, net | 98,593 |
Total investment income | $8,425,433 |
Expenses | |
Investment adviser and administration fee | $721,729 |
Distribution and service fees: | |
Class A | 42,453 |
Class R | 8,860 |
Trustees’ fees and expenses | 10,425 |
Custodian fee | 83,186 |
Transfer and dividend disbursing agent fees | 88,259 |
Legal and accounting services | 62,936 |
Printing and postage | 11,718 |
Registration fees | 45,504 |
Interest expense and fees | 33,391 |
Miscellaneous | 32,925 |
Total expenses | $1,141,386 |
Deduct: | |
Waiver and/or reimbursement of expenses by affiliates | $174,888 |
Total expense reductions | $174,888 |
Net expenses | $966,498 |
Net investment income | $7,458,935 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss): | |
Investment transactions | $11,741,984 |
Foreign currency transactions | (41,026) |
Net realized gain | $11,700,958 |
Change in unrealized appreciation (depreciation): | |
Investments | $7,574,207 |
Foreign currency | 4,724 |
Net change in unrealized appreciation (depreciation) | $7,578,931 |
Net realized and unrealized gain | $19,279,889 |
Net increase in net assets from operations | $26,738,824 |
Six Months Ended July 31, 2024 (Unaudited) | Year Ended January 31, 2024 | |
Increase (Decrease) in Net Assets | ||
From operations: | ||
Net investment income | $7,458,935 | $13,228,014 |
Net realized gain (loss) | 11,700,958 | (5,313,014) |
Net change in unrealized appreciation (depreciation) | 7,578,931 | 13,884,492 |
Net increase in net assets from operations | $26,738,824 | $21,799,492 |
Distributions to shareholders: | ||
Class A | $— | $(1,097,038) |
Class I | — | (7,012,480) |
Class R | — | (86,637) |
Class R6 | — | (4,656,983) |
Total distributions to shareholders | $— | $(12,853,138) |
Transactions in shares of beneficial interest: | ||
Class A | $(6,157,435) | $(21,774,136) |
Class I | (48,958,720) | (77,247,967) |
Class R | (17,842) | (3,799,256) |
Class R6 | (32,853,783) | 10,861,540 |
Net decrease in net assets from Fund share transactions | $(87,987,780) | $(91,959,819) |
Net decrease in net assets | $(61,248,956) | $(83,013,465) |
Net Assets | ||
At beginning of period | $388,933,033 | $471,946,498 |
At end of period | $327,684,077 | $388,933,033 |
Class A | ||||||
Six Months Ended July 31, 2024 (Unaudited) | Year Ended January 31, | |||||
2024 | 2023 | 2022 | 2021 | 2020 | ||
Net asset value — Beginning of period | $13.92 | $13.60 | $14.97 | $14.89 | $13.67 | $12.56 |
Income (Loss) From Operations | ||||||
Net investment income(1) | $0.28 | $0.40 | $0.35 | $0.38 | $0.25 | $0.30 |
Net realized and unrealized gain (loss) | 0.78 | 0.34 | (1.22) | 0.40 | 1.17 | 1.14 |
Total income (loss) from operations | $1.06 | $0.74 | $(0.87) | $0.78 | $1.42 | $1.44 |
Less Distributions | ||||||
From net investment income | $— | $(0.42) | $(0.30) | $(0.42) | $(0.19) | $(0.27) |
From net realized gain | — | — | (0.20) | (0.28) | (0.01) | (0.06) |
Total distributions | $— | $(0.42) | $(0.50) | $(0.70) | $(0.20) | $(0.33) |
Net asset value — End of period | $14.98 | $13.92 | $13.60 | $14.97 | $14.89 | $13.67 |
Total Return(2) | 7.61%(3) | 5.44% | (5.51)% | 5.18% | 10.35% | 11.53% |
Ratios/Supplemental Data | ||||||
Net assets, end of period (000’s omitted) | $32,043 | $35,704 | $56,337 | $99,423 | $113,340 | $103,801 |
Ratios (as a percentage of average daily net assets):(4) | ||||||
Total expenses | 0.87%(5)(6) | 0.83%(6) | 0.83%(6) | 0.79% | 0.82% | 0.81% |
Net expenses | 0.77%(5)(6)(7) | 0.76%(6)(7) | 0.76%(6)(7) | 0.75% | 0.75% | 0.75% |
Net investment income | 3.91%(5) | 2.93% | 2.64% | 2.36% | 1.90% | 2.24% |
Portfolio Turnover | 7%(3) | 34% | 14% | 22% | 16% | 27% |
(1) | Computed using average shares outstanding. |
(2) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if applicable. |
(3) | Not annualized. |
(4) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(5) | Annualized. |
(6) | Includes interest expense and fees of 0.02% for the six months ended July 31, 2024 and 0.01% for the years ended January 31, 2024 and 2023. |
(7) | Includes a reduction by the investment adviser of a portion of its adviser and administration fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended July 31, 2024 and the years ended January 31, 2024 and 2023). |
Class I | ||||||
Six Months Ended July 31, 2024 (Unaudited) | Year Ended January 31, | |||||
2024 | 2023 | 2022 | 2021 | 2020 | ||
Net asset value — Beginning of period | $13.97 | $13.66 | $15.06 | $14.98 | $13.74 | $12.61 |
Income (Loss) From Operations | ||||||
Net investment income(1) | $0.30 | $0.42 | $0.38 | $0.41 | $0.28 | $0.30 |
Net realized and unrealized gain (loss) | 0.78 | 0.36 | (1.23) | 0.42 | 1.20 | 1.19 |
Total income (loss) from operations | $1.08 | $0.78 | $(0.85) | $0.83 | $1.48 | $1.49 |
Less Distributions | ||||||
From net investment income | $— | $(0.47) | $(0.35) | $(0.47) | $(0.23) | $(0.30) |
From net realized gain | — | — | (0.20) | (0.28) | (0.01) | (0.06) |
Total distributions | $— | $(0.47) | $(0.55) | $(0.75) | $(0.24) | $(0.36) |
Net asset value — End of period | $15.05 | $13.97 | $13.66 | $15.06 | $14.98 | $13.74 |
Total Return(2) | 7.73%(3) | 5.67% | (5.30)% | 5.45% | 10.75% | 11.79% |
Ratios/Supplemental Data | ||||||
Net assets, end of period (000’s omitted) | $175,560 | $209,952 | $281,658 | $417,559 | $400,149 | $359,605 |
Ratios (as a percentage of average daily net assets):(4) | ||||||
Total expenses | 0.62%(5)(6) | 0.58%(6) | 0.58%(6) | 0.54% | 0.57% | 0.56% |
Net expenses | 0.52%(5)(6)(7) | 0.51%(6)(7) | 0.51%(6)(7) | 0.50% | 0.50% | 0.50% |
Net investment income | 4.16%(5) | 3.07% | 2.84% | 2.57% | 2.11% | 2.21% |
Portfolio Turnover | 7%(3) | 34% | 14% | 22% | 16% | 27% |
(1) | Computed using average shares outstanding. |
(2) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested. |
(3) | Not annualized. |
(4) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(5) | Annualized. |
(6) | Includes interest expense and fees of 0.02% for the six months ended July 31, 2024 and 0.01% for the years ended January 31, 2024 and 2023. |
(7) | Includes a reduction by the investment adviser of a portion of its adviser and administration fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended July 31, 2024 and the years ended January 31, 2024 and 2023). |
Class R | ||||||
Six Months Ended July 31, 2024 (Unaudited) | Year Ended January 31, | |||||
2024 | 2023 | 2022 | 2021 | 2020 | ||
Net asset value — Beginning of period | $13.79 | $13.45 | $14.83 | $14.79 | $13.59 | $12.49 |
Income (Loss) From Operations | ||||||
Net investment income(1) | $0.26 | $0.39 | $0.30 | $0.29 | $0.20 | $0.24 |
Net realized and unrealized gain (loss) | 0.78 | 0.29 | (1.20) | 0.45 | 1.18 | 1.17 |
Total income (loss) from operations | $1.04 | $0.68 | $(0.90) | $0.74 | $1.38 | $1.41 |
Less Distributions | ||||||
From net investment income | $— | $(0.34) | $(0.28) | $(0.42) | $(0.17) | $(0.25) |
From net realized gain | — | — | (0.20) | (0.28) | (0.01) | (0.06) |
Total distributions | $— | $(0.34) | $(0.48) | $(0.70) | $(0.18) | $(0.31) |
Net asset value — End of period | $14.83 | $13.79 | $13.45 | $14.83 | $14.79 | $13.59 |
Total Return(2) | 7.54%(3) | 5.06% | (5.77)% | 4.93% | 10.20% | 11.25% |
Ratios/Supplemental Data | ||||||
Net assets, end of period (000’s omitted) | $3,757 | $3,517 | $7,248 | $9,157 | $5,082 | $3,713 |
Ratios (as a percentage of average daily net assets):(4) | ||||||
Total expenses | 1.12%(5)(6) | 1.08%(6) | 1.08%(6) | 1.04% | 1.07% | 1.06% |
Net expenses | 1.02%(5)(6)(7) | 1.01%(6)(7) | 1.01%(6)(7) | 1.00% | 1.00% | 1.00% |
Net investment income | 3.63%(5) | 2.86% | 2.31% | 1.83% | 1.55% | 1.79% |
Portfolio Turnover | 7%(3) | 34% | 14% | 22% | 16% | 27% |
(1) | Computed using average shares outstanding. |
(2) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested. |
(3) | Not annualized. |
(4) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(5) | Annualized. |
(6) | Includes interest expense and fees of 0.02% for the six months ended July 31, 2024 and 0.01% for the years ended January 31, 2024 and 2023. |
(7) | Includes a reduction by the investment adviser of a portion of its adviser and administration fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended July 31, 2024 and the years ended January 31, 2024 and 2023). |
Class R6 | ||||||
Six Months Ended July 31, 2024 (Unaudited) | Year Ended January 31, | |||||
2024 | 2023 | 2022 | 2021 | 2020 | ||
Net asset value — Beginning of period | $13.93 | $13.63 | $15.04 | $14.96 | $13.73 | $12.60 |
Income (Loss) From Operations | ||||||
Net investment income(1) | $0.30 | $0.40 | $0.37 | $0.42 | $0.27 | $0.34 |
Net realized and unrealized gain (loss) | 0.78 | 0.38 | (1.22) | 0.42 | 1.20 | 1.16 |
Total income (loss) from operations | $1.08 | $0.78 | $(0.85) | $0.84 | $1.47 | $1.50 |
Less Distributions | ||||||
From net investment income | $— | $(0.48) | $(0.36) | $(0.48) | $(0.23) | $(0.31) |
From net realized gain | — | — | (0.20) | (0.28) | (0.01) | (0.06) |
Total distributions | $— | $(0.48) | $(0.56) | $(0.76) | $(0.24) | $(0.37) |
Net asset value — End of period | $15.01 | $13.93 | $13.63 | $15.04 | $14.96 | $13.73 |
Total Return(2) | 7.75%(3) | 5.70% | (5.29)% | 5.51% | 10.75% | 11.85% |
Ratios/Supplemental Data | ||||||
Net assets, end of period (000’s omitted) | $116,325 | $139,761 | $126,703 | $136,299 | $150,071 | $112,074 |
Ratios (as a percentage of average daily net assets):(4) | ||||||
Total expenses | 0.59%(5)(6) | 0.55%(6) | 0.55%(6) | 0.51% | 0.54% | 0.53% |
Net expenses | 0.49%(5)(6)(7) | 0.48%(6)(7) | 0.48%(6)(7) | 0.47% | 0.47% | 0.47% |
Net investment income | 4.18%(5) | 2.92% | 2.78% | 2.61% | 2.07% | 2.56% |
Portfolio Turnover | 7%(3) | 34% | 14% | 22% | 16% | 27% |
(1) | Computed using average shares outstanding. |
(2) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested. |
(3) | Not annualized. |
(4) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(5) | Annualized. |
(6) | Includes interest expense and fees of 0.02% for the six months ended July 31, 2024 and 0.01% for the years ended January 31, 2024 and 2023. |
(7) | Includes a reduction by the investment adviser of a portion of its adviser and administration fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended July 31, 2024 and the years ended January 31, 2024 and 2023). |
Aggregate cost | $282,408,355 |
Gross unrealized appreciation | $82,842,184 |
Gross unrealized depreciation | (26,423,897) |
Net unrealized appreciation | $56,418,287 |
Average Daily Net Assets | Annual Fee Rate |
Up to $1 billion | 0.400% |
$1 billion but less than $2.5 billion | 0.375% |
$2.5 billion but less than $5 billion | 0.360% |
$5 billion and over | 0.350% |
Six Months Ended July 31, 2024 (Unaudited) | Year Ended January 31, 2024 | ||||
Shares | Amount | Shares | Amount | ||
Class A | |||||
Sales | 81,933 | $ 1,178,938 | 271,791 | $ 3,689,671 | |
Issued to shareholders electing to receive payments of distributions in Fund shares | — | — | 78,178 | 1,094,491 | |
Redemptions | (507,881) | (7,336,373) | (1,926,260) | (26,558,298) | |
Net decrease | (425,948) | $(6,157,435) | (1,576,291) | $(21,774,136) | |
Class I | |||||
Sales | 944,416 | $13,689,150 | 2,517,383 | $ 34,427,641 | |
Issued to shareholders electing to receive payments of distributions in Fund shares | — | — | 470,877 | 6,611,112 | |
Redemptions | (4,310,987) | (62,647,870) | (8,580,380) | (118,286,720) | |
Net decrease | (3,366,571) | $(48,958,720) | (5,592,120) | $(77,247,967) | |
Class R | |||||
Sales | 17,701 | $ 254,247 | 47,947 | $ 644,991 | |
Issued to shareholders electing to receive payments of distributions in Fund shares | — | — | 6,242 | 86,632 | |
Redemptions | (19,285) | (272,089) | (338,210) | (4,530,879) | |
Net decrease | (1,584) | $ (17,842) | (284,021) | $ (3,799,256) | |
Class R6 | |||||
Sales | 725,830 | $10,457,254 | 2,918,493 | $ 40,338,747 | |
Issued to shareholders electing to receive payments of distributions in Fund shares | — | — | 332,404 | 4,656,983 | |
Redemptions | (3,009,446) | (43,311,037) | (2,513,647) | (34,134,190) | |
Net increase (decrease) | (2,283,616) | $(32,853,783) | 737,250 | $ 10,861,540 |
Remaining Contractual Maturity of the Transactions | |||||
Overnight and Continuous | <30 days | 30 to 90 days | >90 days | Total | |
Common Stocks | $13,511,411 | $ — | $ — | $ — | $13,511,411 |
Warrants | 438 | — | — | — | 438 |
Total | $13,511,849 | $ — | $ — | $ — | $13,511,849 |
Name | Value, beginning of period | Purchases | Sales proceeds | Net realized gain (loss) | Change in unrealized appreciation (depreciation) | Value, end of period | Dividend income | Shares, end of period |
Short-Term Investments | ||||||||
Liquidity Fund | $662,721 | $16,281,703 | $(16,936,137) | $ — | $ — | $8,287 | $7,226 | 8,287 |
• | Level 1 – quoted prices in active markets for identical investments |
• | Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) |
• | Level 3 – significant unobservable inputs (including a fund's own assumptions in determining the fair value of investments) |
Asset Description | Level 1 | Level 2 | Level 3* | Total |
Common Stocks: | ||||
Asia | $ 1,553,569 | $ 69,894,272 | $0 | $ 71,447,841 |
Australasia/Pacific | — | 31,515,111 | — | 31,515,111 |
Developed Europe | 2,843,441 | 212,815,941 | 0 | 215,659,382 |
Developed Middle East | 999,075 | 5,685,097 | — | 6,684,172 |
Total Common Stocks | $ 5,396,085 | $319,910,421** | $0 | $325,306,506 |
Warrants | $ — | $ — | $0 | $ — |
Short-Term Investments: | ||||
Affiliated Fund | 8,287 | — | — | 8,287 |
Securities Lending Collateral | 13,511,849 | — | — | 13,511,849 |
Total Investments | $18,916,221 | $ 319,910,421 | $0 | $338,826,642 |
* | None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Fund. |
** | Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets. |
Common Stocks — 99.9% |
Security | Shares | Value | |
Argentina — 1.2% | |||
Bioceres Crop Solutions Corp.(1) | 2,400 | $ 26,640 | |
Central Puerto SA ADR | 10,500 | 89,145 | |
Cresud SACIF y A ADR | 4,131 | 31,726 | |
Empresa Distribuidora Y Comercializadora Norte ADR(1) | 2,000 | 33,040 | |
Grupo Financiero Galicia SA ADR(1)(2) | 2,527 | 73,207 | |
IRSA Inversiones y Representaciones SA ADR(1)(2) | 4,453 | 42,838 | |
Loma Negra Cia Industrial Argentina SA ADR(1)(2) | 8,024 | 51,835 | |
MercadoLibre, Inc.(1) | 727 | 1,213,290 | |
Pampa Energia SA ADR(1)(2) | 3,079 | 139,879 | |
Telecom Argentina SA ADR(1)(2) | 6,900 | 43,746 | |
Transportadora de Gas del Sur SA, Class B ADR(1) | 2,413 | 42,638 | |
YPF SA ADR(1)(2) | 21,124 | 421,213 | |
$ 2,209,197 | |||
Bahrain — 0.3% | |||
Al Salam Bank BSC | 651,014 | $ 391,024 | |
GFH Financial Group BSC | 612,932 | 196,903 | |
$ 587,927 | |||
Bangladesh — 0.4% | |||
Bangladesh Export Import Co. Ltd.(3) | 66,933 | $ 47,233 | |
Beximco Pharmaceuticals Ltd. | 100,930 | 91,589 | |
City Bank PLC | 314,253 | 53,670 | |
GrameenPhone Ltd. | 18,840 | 40,372 | |
Heidelberg Materials Bangladesh PLC | 18,065 | 47,344 | |
Jamuna Oil Co. Ltd. | 22,841 | 34,627 | |
Olympic Industries Ltd. | 24,067 | 24,430 | |
Pubali Bank PLC | 155,990 | 33,568 | |
Renata PLC | 6,549 | 39,411 | |
Square Pharmaceuticals PLC | 128,709 | 232,535 | |
Summit Power Ltd. | 107,026 | 19,184 | |
Titas Gas Transmission & Distribution Co. Ltd. | 150,108 | 26,966 | |
Unique Hotel & Resorts PLC | 71,627 | 30,290 | |
United Commercial Bank PLC | 741,745 | 57,370 | |
$ 778,589 | |||
Botswana — 0.5% | |||
Botswana Insurance Holdings Ltd. | 63,055 | $ 94,832 | |
First National Bank of Botswana Ltd. | 256,849 | 93,391 | |
Letshego Holdings Ltd. | 648,236 | 55,100 | |
Sechaba Breweries Holdings Ltd. | 295,128 | 697,876 | |
$ 941,199 |
Security | Shares | Value | |
Brazil — 4.3% | |||
Adecoagro SA(2) | 10,100 | $ 97,566 | |
Alpargatas SA, PFC Shares(1) | 51,100 | 77,696 | |
Ambev SA | 142,850 | 292,461 | |
Arcos Dorados Holdings, Inc., Class A | 8,100 | 78,246 | |
Arezzo Industria e Comercio SA | 5,800 | 49,887 | |
B3 SA - Brasil Bolsa Balcao | 26,000 | 49,875 | |
Banco Bradesco SA, PFC Shares | 43,292 | 95,139 | |
CCR SA | 26,700 | 58,440 | |
Centrais Eletricas Brasileiras SA, Class B, PFC Shares | 33,600 | 259,062 | |
Cia de Saneamento Basico do Estado de Sao Paulo SABESP | 12,660 | 197,505 | |
Cia Energetica de Minas Gerais, PFC Shares | 54,340 | 104,335 | |
Cia Siderurgica Nacional SA | 27,600 | 57,873 | |
Cogna Educacao SA(1) | 75,636 | 20,326 | |
Cosan SA | 39,700 | 93,843 | |
Cyrela Brazil Realty SA Empreendimentos e Participacoes | 23,700 | 81,666 | |
Embraer SA ADR(1) | 9,248 | 287,243 | |
Eneva SA(1) | 44,400 | 99,144 | |
Engie Brasil Energia SA | 8,250 | 64,513 | |
Equatorial Energia SA | 27,300 | 157,540 | |
Fleury SA | 31,395 | 84,147 | |
Gerdau SA, PFC Shares | 20,034 | 64,677 | |
Grupo De Moda Soma SA(1) | 36,077 | 37,888 | |
Hapvida Participacoes e Investimentos SA(1)(4) | 495,920 | 356,850 | |
Hypera SA | 36,000 | 183,305 | |
Itau Unibanco Holding SA, PFC Shares | 30,120 | 180,417 | |
Itausa SA, PFC Shares | 58,543 | 105,263 | |
JBS SA(1) | 20,225 | 120,574 | |
Klabin SA, PFC Shares | 114,180 | 88,822 | |
Localiza Rent a Car SA | 20,789 | 161,096 | |
Lojas Renner SA | 59,384 | 139,217 | |
LWSA SA(1)(4) | 73,600 | 57,254 | |
Magazine Luiza SA(1) | 27,330 | 53,489 | |
Marfrig Global Foods SA(1) | 38,855 | 77,694 | |
Multiplan Empreendimentos Imobiliarios SA | 30,700 | 130,048 | |
Natura & Co. Holding SA | 41,000 | 108,224 | |
NU Holdings Ltd., Class A(1) | 11,500 | 139,495 | |
Petroleo Brasileiro SA, PFC Shares | 137,200 | 907,446 | |
Prio SA | 7,000 | 59,466 | |
Raia Drogasil SA | 30,972 | 151,132 | |
Rede D'Or Sao Luiz SA(4) | 80,300 | 391,693 | |
Rumo SA | 37,219 | 145,753 | |
Sendas Distribuidora SA(1) | 51,145 | 88,796 | |
StoneCo Ltd., Class A(1) | 4,900 | 64,288 | |
Suzano SA | 10,620 | 101,128 | |
Telefonica Brasil SA | 24,100 | 206,694 | |
TIM SA | 80,550 | 249,077 |
Security | Shares | Value | |
Brazil (continued) | |||
TOTVS SA | 43,070 | $ 211,309 | |
Vale SA | 44,647 | 486,478 | |
Vibra Energia SA | 71,900 | 294,406 | |
WEG SA | 31,104 | 278,587 | |
YDUQS Participacoes SA | 24,300 | 47,001 | |
$ 7,994,074 | |||
Bulgaria — 0.3% | |||
CB First Investment Bank AD(1) | 101,904 | $ 276,584 | |
Chimimport AD(1) | 164,922 | 69,767 | |
MonBat AD(1) | 28,235 | 46,833 | |
Sopharma AD | 61,906 | 201,362 | |
$ 594,546 | |||
Chile — 2.4% | |||
Aguas Andinas SA, Series A | 483,322 | $ 143,630 | |
Banco de Chile | 2,960,094 | 352,650 | |
Banco de Credito e Inversiones SA | 3,443 | 100,679 | |
Banco Santander Chile | 3,218,212 | 160,249 | |
CAP SA(1) | 7,626 | 42,993 | |
Cencosud SA | 133,252 | 246,308 | |
Cia Cervecerias Unidas SA | 16,853 | 93,062 | |
Cia Sud Americana de Vapores SA | 4,277,766 | 293,988 | |
Colbun SA | 624,587 | 81,234 | |
Embotelladora Andina SA, Class B, PFC Shares | 51,948 | 166,013 | |
Empresa Nacional de Telecomunicaciones SA | 24,183 | 68,004 | |
Empresas CMPC SA | 133,400 | 231,711 | |
Empresas COPEC SA | 75,124 | 523,226 | |
Enel Americas SA | 1,632,285 | 152,765 | |
Enel Chile SA | 1,903,814 | 108,746 | |
Falabella SA(1) | 131,123 | 434,350 | |
Parque Arauco SA | 232,299 | 369,952 | |
Quinenco SA | 9,770 | 34,044 | |
Ripley Corp. SA(1) | 484,810 | 139,491 | |
Sociedad Matriz SAAM SA | 1,031,318 | 115,650 | |
Sociedad Quimica y Minera de Chile SA, Series B, PFC Shares | 9,400 | 356,389 | |
SONDA SA | 225,936 | 95,472 | |
Vina Concha y Toro SA | 92,943 | 116,539 | |
$ 4,427,145 | |||
China — 15.4% | |||
3SBio, Inc.(4) | 98,000 | $ 76,870 | |
AAC Technologies Holdings, Inc. | 69,500 | 254,404 | |
Aier Eye Hospital Group Co. Ltd., Class A | 24,105 | 36,923 | |
Air China Ltd., Class H(1) | 178,000 | 80,610 |
Security | Shares | Value | |
China (continued) | |||
Alibaba Group Holding Ltd. ADR | 9,600 | $ 756,960 | |
Aluminum Corp. of China Ltd., Class H | 352,000 | 197,044 | |
Angang Steel Co. Ltd., Class H(1) | 306,400 | 47,468 | |
Anhui Conch Cement Co. Ltd., Class H | 54,500 | 132,884 | |
ANTA Sports Products Ltd. | 15,000 | 134,263 | |
Baidu, Inc. ADR(1) | 3,632 | 321,686 | |
Bank of Beijing Co. Ltd., Class A | 182,760 | 134,775 | |
Bank of China Ltd., Class H | 536,000 | 238,674 | |
Bank of Ningbo Co. Ltd., Class A | 19,850 | 59,085 | |
BeiGene Ltd. ADR(1) | 2,400 | 399,792 | |
Beijing Capital International Airport Co. Ltd., Class H(1) | 308,000 | 102,505 | |
Beijing Enterprises Holdings Ltd. | 39,500 | 131,063 | |
Beijing Enterprises Water Group Ltd.(2) | 290,000 | 89,480 | |
Beijing Originwater Technology Co. Ltd., Class A | 39,363 | 23,040 | |
BOE Technology Group Co. Ltd., Class A | 341,100 | 186,243 | |
BYD Co. Ltd., Class H(2) | 7,654 | 226,595 | |
BYD Electronic International Co. Ltd. | 29,000 | 112,864 | |
Changchun High-Tech Industry Group Co. Ltd., Class A | 6,200 | 81,389 | |
Changjiang Securities Co. Ltd., Class A | 112,200 | 80,467 | |
Chengdu Xingrong Environment Co. Ltd., Class A | 125,700 | 139,158 | |
China Coal Energy Co. Ltd., Class H | 144,000 | 145,888 | |
China Communications Services Corp. Ltd., Class H | 118,000 | 60,623 | |
China Construction Bank Corp., Class H | 530,630 | 370,531 | |
China Everbright Environment Group Ltd. | 234,925 | 106,127 | |
China Gas Holdings Ltd. | 165,400 | 150,418 | |
China Jinmao Holdings Group Ltd.(2) | 352,000 | 27,910 | |
China Life Insurance Co. Ltd., Class H | 92,000 | 127,637 | |
China Longyuan Power Group Corp. Ltd., Class H | 188,000 | 168,572 | |
China Mengniu Dairy Co. Ltd. | 58,000 | 97,051 | |
China Merchants Bank Co. Ltd., Class H | 35,024 | 145,168 | |
China Merchants Port Holdings Co. Ltd. | 42,035 | 61,810 | |
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Class A | 74,674 | 90,878 | |
China National Building Material Co. Ltd., Class H | 166,000 | 55,018 | |
China Northern Rare Earth Group High-Tech Co. Ltd., Class A | 15,200 | 36,827 | |
China Oilfield Services Ltd., Class H | 198,000 | 174,417 | |
China Overseas Land & Investment Ltd. | 115,160 | 186,172 | |
China Petroleum & Chemical Corp., Class H | 1,449,741 | 929,115 | |
China Railway Group Ltd., Class H | 281,000 | 137,033 | |
China Resources Beer Holdings Co. Ltd. | 34,000 | 105,771 | |
China Resources Gas Group Ltd. | 64,000 | 217,202 | |
China Resources Land Ltd. | 86,000 | 257,062 | |
China Resources Medical Holdings Co. Ltd.(2) | 163,000 | 66,817 | |
China Resources Power Holdings Co. Ltd. | 139,600 | 384,016 | |
China Shenhua Energy Co. Ltd., Class H | 213,500 | 887,756 | |
China Shineway Pharmaceutical Group Ltd. | 110,000 | 113,309 |
Security | Shares | Value | |
China (continued) | |||
China Southern Airlines Co. Ltd., Class H(1) | 108,000 | $ 39,673 | |
China State Construction Engineering Corp. Ltd., Class A | 156,440 | 120,850 | |
China Tourism Group Duty Free Corp. Ltd., Class A | 6,700 | 63,661 | |
China Travel International Investment Hong Kong Ltd.(2) | 714,855 | 100,710 | |
China Vanke Co. Ltd., Class H(1)(2) | 149,577 | 82,021 | |
China Yangtze Power Co. Ltd., Class A | 112,600 | 465,305 | |
CITIC Ltd. | 142,000 | 130,919 | |
CMOC Group Ltd., Class H | 366,000 | 291,907 | |
COSCO SHIPPING Energy Transportation Co. Ltd., Class H(2) | 186,000 | 223,129 | |
COSCO SHIPPING Holdings Co. Ltd., Class H | 198,866 | 284,003 | |
COSCO SHIPPING Ports Ltd. | 110,000 | 65,390 | |
Country Garden Holdings Co. Ltd.(1)(2)(3) | 400,880 | 12,443 | |
Country Garden Services Holdings Co. Ltd. | 56,589 | 34,050 | |
CSPC Pharmaceutical Group Ltd. | 239,760 | 178,344 | |
Daqo New Energy Corp. ADR(1)(2) | 1,900 | 33,307 | |
Dong-E-E-Jiao Co. Ltd., Class A | 16,200 | 109,651 | |
East Money Information Co. Ltd., Class A | 24,751 | 38,154 | |
Focus Media Information Technology Co. Ltd., Class A | 196,344 | 157,459 | |
Ganfeng Lithium Group Co. Ltd., Class A | 14,770 | 57,556 | |
GDS Holdings Ltd. ADR(1) | 9,300 | 104,439 | |
Gemdale Corp., Class A | 80,700 | 35,255 | |
Great Wall Motor Co. Ltd., Class H(2) | 50,000 | 68,269 | |
Guangdong Baolihua New Energy Stock Co. Ltd., Class A | 86,500 | 56,900 | |
Guangdong Investment Ltd. | 186,000 | 97,540 | |
Haier Smart Home Co. Ltd., Class H | 47,553 | 155,470 | |
Han's Laser Technology Industry Group Co. Ltd., Class A | 23,400 | 71,369 | |
Hengan International Group Co. Ltd. | 24,500 | 76,534 | |
Huadian Power International Corp. Ltd., Class H | 240,000 | 123,595 | |
Huadong Medicine Co. Ltd., Class A | 32,753 | 132,247 | |
Huaneng Power International, Inc., Class H | 420,000 | 249,590 | |
Huayu Automotive Systems Co. Ltd., Class A | 53,308 | 115,002 | |
Hubei Energy Group Co. Ltd., Class A | 94,014 | 67,006 | |
Hundsun Technologies, Inc., Class A | 31,491 | 79,853 | |
Iflytek Co. Ltd., Class A | 34,550 | 190,534 | |
Industrial & Commercial Bank of China Ltd., Class H | 495,000 | 274,221 | |
Industrial Bank Co. Ltd., Class A | 25,302 | 58,647 | |
Inner Mongolia BaoTou Steel Union Co. Ltd., Class A(1) | 707,000 | 142,956 | |
Inner Mongolia Yili Industrial Group Co. Ltd., Class A | 53,200 | 184,808 | |
Innovent Biologics, Inc.(1)(4) | 44,000 | 217,814 | |
JD.com, Inc. ADR | 6,406 | 169,054 | |
Jiangsu Expressway Co. Ltd., Class H | 108,000 | 102,776 | |
Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class A | 38,761 | 226,315 | |
Jiangsu Yanghe Distillery Co. Ltd., Class A | 11,800 | 133,582 | |
Jiangxi Copper Co. Ltd., Class H | 154,000 | 270,723 | |
Jinke Properties Group Co. Ltd., Class A(1) | 130,499 | 20,621 | |
KE Holdings, Inc. ADR | 20,700 | 286,695 |
Security | Shares | Value | |
China (continued) | |||
Kingboard Holdings Ltd. | 87,100 | $ 177,650 | |
Kingdee International Software Group Co. Ltd.(1) | 99,000 | 79,336 | |
Kingsoft Corp. Ltd. | 32,800 | 92,911 | |
Kunlun Energy Co. Ltd. | 338,000 | 327,655 | |
Kweichow Moutai Co. Ltd., Class A | 2,900 | 570,134 | |
Lee & Man Paper Manufacturing Ltd. | 275,000 | 85,089 | |
Lenovo Group Ltd. | 204,000 | 264,223 | |
Lepu Medical Technology Beijing Co. Ltd., Class A | 33,300 | 60,454 | |
Li Ning Co. Ltd. | 21,208 | 39,502 | |
Longfor Group Holdings Ltd.(2)(4) | 49,500 | 64,306 | |
LONGi Green Energy Technology Co. Ltd., Class A | 63,389 | 127,382 | |
Luxshare Precision Industry Co. Ltd., Class A | 71,034 | 377,276 | |
Luye Pharma Group Ltd.(1)(2)(4) | 249,500 | 89,073 | |
Maanshan Iron & Steel Co. Ltd., Class H(1) | 286,000 | 39,897 | |
Meituan, Class B(1)(4) | 8,073 | 111,784 | |
NARI Technology Co. Ltd., Class A | 59,068 | 196,253 | |
NetEase, Inc. ADR | 3,410 | 314,095 | |
Nine Dragons Paper Holdings Ltd.(1) | 195,000 | 76,108 | |
OFILM Group Co. Ltd., Class A(1) | 65,800 | 75,690 | |
PetroChina Co. Ltd., Class H | 1,068,000 | 927,423 | |
Ping An Bank Co. Ltd., Class A | 35,488 | 50,478 | |
Ping An Insurance Group Co. of China Ltd., Class H | 44,000 | 191,075 | |
Poly Developments and Holdings Group Co. Ltd., Class A | 94,900 | 115,779 | |
Poly Property Group Co. Ltd.(2) | 700,000 | 130,006 | |
Power Construction Corp. of China Ltd., Class A | 53,800 | 40,955 | |
SAIC Motor Corp. Ltd., Class A(1) | 55,100 | 111,916 | |
Sanan Optoelectronics Co. Ltd., Class A | 84,900 | 140,003 | |
Shan Xi Hua Yang Group New Energy Co. Ltd., Class A | 81,150 | 80,509 | |
Shandong Gold Mining Co. Ltd., Class A | 50,680 | 207,351 | |
Shandong Weigao Group Medical Polymer Co. Ltd., Class H | 112,000 | 56,832 | |
Shanghai Electric Group Co. Ltd., Class H(1) | 282,000 | 54,853 | |
Shanghai Industrial Holdings Ltd. | 117,000 | 174,542 | |
Shanxi Lu'an Environmental Energy Development Co. Ltd., Class A | 41,000 | 88,300 | |
Shenzhen Inovance Technology Co. Ltd., Class A | 10,400 | 67,079 | |
Shenzhen Investment Ltd. | 674,000 | 81,143 | |
Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd., Class A | 171,300 | 99,705 | |
Siasun Robot & Automation Co. Ltd., Class A(1) | 55,000 | 76,809 | |
Sichuan Chuantou Energy Co. Ltd., Class A | 88,600 | 229,529 | |
Sino Biopharmaceutical Ltd. | 475,500 | 170,514 | |
Sino-Ocean Group Holding Ltd.(1)(2) | 659,000 | 28,734 | |
Sinopec Shanghai Petrochemical Co. Ltd., Class H(1) | 877,000 | 121,057 | |
Sinopharm Group Co. Ltd., Class H | 60,400 | 141,671 | |
Sunny Optical Technology Group Co. Ltd. | 26,700 | 149,736 | |
Tencent Holdings Ltd. | 42,539 | 1,963,024 | |
Tingyi (Cayman Islands) Holding Corp. | 56,000 | 68,280 |
Security | Shares | Value | |
China (continued) | |||
Tongling Nonferrous Metals Group Co. Ltd., Class A | 424,000 | $ 185,285 | |
Trip.com Group Ltd. ADR(1) | 5,254 | 223,453 | |
Tsingtao Brewery Co. Ltd., Class H | 13,566 | 86,668 | |
Vnet Group, Inc. ADR(1)(2) | 14,100 | 29,187 | |
Wanhua Chemical Group Co. Ltd., Class A | 8,165 | 87,639 | |
Want Want China Holdings Ltd. | 162,920 | 97,822 | |
Weichai Power Co. Ltd., Class H | 102,742 | 164,433 | |
Weimob, Inc.(1)(4) | 219,000 | 34,173 | |
WH Group Ltd.(4) | 248,121 | 161,289 | |
Wuliangye Yibin Co. Ltd., Class A | 15,200 | 267,052 | |
Wuxi Biologics Cayman, Inc.(1)(4) | 90,000 | 131,639 | |
Xiaomi Corp., Class B(1)(4) | 140,000 | 300,696 | |
Xinyi Solar Holdings Ltd. | 170,000 | 80,661 | |
Yangzijiang Financial Holding Ltd. | 326,900 | 83,372 | |
Yangzijiang Shipbuilding Holdings Ltd. | 200,300 | 403,857 | |
Yankuang Energy Group Co. Ltd., Class H(2) | 230,100 | 300,352 | |
Yuan Longping High-tech Agriculture Co. Ltd., Class A | 65,900 | 90,748 | |
Yuexiu Property Co. Ltd. | 128,000 | 81,808 | |
Yunnan Baiyao Group Co. Ltd., Class A | 29,680 | 207,497 | |
Zhaojin Mining Industry Co. Ltd., Class H | 77,500 | 138,944 | |
Zhejiang Dahua Technology Co. Ltd., Class A | 69,550 | 144,610 | |
Zhejiang Expressway Co. Ltd., Class H | 116,000 | 76,121 | |
Zhejiang Huahai Pharmaceutical Co. Ltd., Class A | 41,250 | 97,848 | |
Zhuzhou CRRC Times Electric Co. Ltd., Class H | 32,800 | 121,049 | |
Zijin Mining Group Co. Ltd., Class H | 190,000 | 385,389 | |
ZTE Corp., Class H | 155,303 | 347,891 | |
ZTO Express Cayman, Inc. ADR | 6,900 | 130,755 | |
$ 28,544,076 | |||
Colombia — 0.6% | |||
Bancolombia SA | 13,473 | $ 121,460 | |
Bancolombia SA ADR, PFC Shares | 5,355 | 178,428 | |
Cementos Argos SA | 56,456 | 116,368 | |
Ecopetrol SA | 794,069 | 426,339 | |
Geopark Ltd. | 6,700 | 65,593 | |
Grupo de Inversiones Suramericana SA | 5,521 | 44,157 | |
Interconexion Electrica SA ESP | 54,653 | 236,096 | |
$ 1,188,441 | |||
Croatia — 0.7% | |||
Ericsson Nikola Tesla DD | 432 | $ 87,095 | |
Hrvatski Telekom DD | 9,370 | 323,245 | |
Koncar-Elektroindustrija DD | 631 | 252,526 | |
Podravka Prehrambena Ind DD | 1,328 | 234,924 |
Security | Shares | Value | |
Croatia (continued) | |||
Valamar Riviera DD | 46,918 | $ 260,049 | |
Zagrebacka Banka DD | 2,776 | 58,519 | |
$ 1,216,358 | |||
Czech Republic — 0.7% | |||
CEZ AS | 18,877 | $ 726,879 | |
Colt CZ Group SE | 3,607 | 102,338 | |
Komercni Banka AS | 7,268 | 251,096 | |
Philip Morris CR AS | 194 | 126,853 | |
$ 1,207,166 | |||
Egypt — 0.6% | |||
Cleopatra Hospital(1) | 330,000 | $ 49,134 | |
Commercial International Bank - Egypt (CIB) | 146,033 | 250,486 | |
Eastern Co. SAE | 268,069 | 123,376 | |
EFG Holding SAE(1) | 79,120 | 34,407 | |
E-Finance for Digital & Financial Investments | 132,499 | 66,362 | |
ElSewedy Electric Co. | 125,156 | 122,146 | |
Fawry for Banking & Payment Technology Services SAE(1) | 217,000 | 30,785 | |
Juhayna Food Industries | 143,563 | 63,002 | |
Oriental Weavers | 271,447 | 137,066 | |
Talaat Moustafa Group | 221,254 | 256,197 | |
Telecom Egypt Co. | 67,509 | 47,336 | |
$ 1,180,297 | |||
Estonia — 0.5% | |||
Tallink Grupp AS | 813,748 | $ 531,795 | |
TKM Grupp AS | 31,842 | 329,876 | |
$ 861,671 | |||
Ghana — 0.2% | |||
GCB Bank PLC(1) | 830,933 | $ 299,931 | |
Standard Chartered Bank Ghana PLC(1) | 90,500 | 117,139 | |
$ 417,070 | |||
Greece — 1.4% | |||
Aegean Airlines SA | 3,992 | $ 49,698 | |
Alpha Services and Holdings SA | 58,420 | 107,790 | |
Eurobank Ergasias Services and Holdings SA, Class A | 72,622 | 166,397 | |
GEK TERNA SA | 4,483 | 86,861 | |
Hellenic Telecommunications Organization SA | 21,951 | 360,649 | |
JUMBO SA | 9,006 | 241,347 | |
Metlen Energy & Metals SA | 5,537 | 218,819 | |
Motor Oil (Hellas) Corinth Refineries SA | 8,687 | 221,430 | |
National Bank of Greece SA | 31,588 | 277,289 | |
OPAP SA | 15,444 | 269,327 |
Security | Shares | Value | |
Greece (continued) | |||
Public Power Corp. SA | 10,354 | $ 131,903 | |
Sarantis SA | 6,450 | 76,646 | |
Terna Energy SA | 4,568 | 95,113 | |
Titan Cement International SA | 6,024 | 214,424 | |
Tsakos Energy Navigation Ltd. | 3,420 | 88,612 | |
$ 2,606,305 | |||
Hungary — 0.7% | |||
Magyar Telekom Telecommunications PLC | 43,733 | $ 130,979 | |
MOL Hungarian Oil & Gas PLC | 38,176 | 297,506 | |
OTP Bank Nyrt | 7,428 | 380,771 | |
Richter Gedeon Nyrt | 15,901 | 453,375 | |
$ 1,262,631 | |||
Iceland — 0.6% | |||
Alvotech SA(1)(2) | 11,700 | $ 136,890 | |
Arion Banki Hf.(4) | 94,500 | 90,729 | |
Brim Hf. | 190,700 | 98,716 | |
Eik fasteignafelag Hf. | 387,000 | 27,677 | |
Eimskipafelag Islands Hf. | 8,816 | 22,416 | |
Festi Hf. | 99,900 | 147,334 | |
Hagar Hf. | 135,000 | 82,443 | |
Heimar Hf.(1) | 336,000 | 61,124 | |
Icelandair Group Hf.(1) | 2,300,000 | 14,371 | |
Islandsbanki Hf. | 57,500 | 42,785 | |
Kvika banki Hf.(1) | 300,000 | 33,180 | |
Marel Hf. | 51,000 | 185,729 | |
Reitir fasteignafelag Hf. | 133,900 | 83,120 | |
Sildarvinnslan Hf.(1) | 124,800 | 82,955 | |
Siminn Hf. | 678,565 | 46,091 | |
Syn Hf.(1) | 84,000 | 20,517 | |
$ 1,176,077 | |||
India — 7.7% | |||
ACC Ltd. | 1,578 | $ 48,927 | |
Adani Energy Solutions Ltd.(1) | 3,600 | 48,859 | |
Adani Enterprises Ltd. | 4,154 | 157,578 | |
Adani Ports & Special Economic Zone Ltd. | 6,719 | 126,604 | |
Adani Total Gas Ltd. | 4,200 | 44,947 | |
Apollo Hospitals Enterprise Ltd. | 2,292 | 180,995 | |
Ashok Leyland Ltd. | 18,600 | 57,224 | |
Asian Paints Ltd. | 3,500 | 129,297 | |
Aurobindo Pharma Ltd. | 7,224 | 123,347 | |
Avenue Supermarts Ltd.(1)(4) | 3,000 | 177,650 | |
Axis Bank Ltd. | 5,372 | 75,152 | |
Bajaj Auto Ltd. | 1,134 | 131,231 |
Security | Shares | Value | |
India (continued) | |||
Bajaj Finance Ltd. | 1,332 | $ 108,580 | |
Bajaj Finserv Ltd. | 3,629 | 71,677 | |
Bharat Petroleum Corp. Ltd. | 18,582 | 78,153 | |
Bharti Airtel Ltd. | 45,721 | 817,550 | |
Biocon Ltd. | 20,599 | 89,173 | |
Britannia Industries Ltd.(1) | 2,200 | 152,533 | |
Cipla Ltd.(1) | 9,493 | 175,377 | |
Coal India Ltd. | 25,404 | 158,975 | |
Container Corp. of India Ltd. | 4,000 | 49,786 | |
Crompton Greaves Consumer Electricals Ltd. | 19,469 | 104,595 | |
Cummins India Ltd. | 2,531 | 116,840 | |
Divi's Laboratories Ltd. | 2,050 | 120,965 | |
DLF Ltd. | 20,247 | 216,018 | |
Dr. Reddy's Laboratories Ltd. | 2,517 | 203,409 | |
Eicher Motors Ltd. | 1,260 | 75,085 | |
Embassy Office Parks REIT | 14,200 | 62,697 | |
GAIL (India) Ltd. | 73,508 | 212,174 | |
Godrej Consumer Products Ltd. | 6,175 | 106,874 | |
Godrej Properties Ltd.(1) | 7,400 | 285,575 | |
Grasim Industries Ltd. | 4,143 | 137,618 | |
Gujarat State Petronet Ltd. | 19,482 | 79,192 | |
Havells India Ltd. | 5,343 | 117,986 | |
HCL Technologies Ltd. | 18,017 | 354,141 | |
HDFC Bank Ltd. | 10,704 | 207,128 | |
Hero MotoCorp Ltd. | 843 | 55,720 | |
Hindalco Industries Ltd. | 11,944 | 96,152 | |
Hindustan Aeronautics Ltd.(5) | 900 | 53,008 | |
Hindustan Unilever Ltd. | 9,071 | 293,616 | |
ICICI Bank Ltd. | 9,120 | 133,069 | |
Indian Hotels Co. Ltd. | 9,500 | 73,010 | |
Indian Oil Corp. Ltd. | 29,010 | 63,280 | |
Indus Towers Ltd.(1) | 21,944 | 113,780 | |
Info Edge India Ltd. | 1,700 | 143,829 | |
Infosys Ltd. | 53,369 | 1,183,922 | |
Ipca Laboratories Ltd. | 6,080 | 95,105 | |
ITC Ltd. | 34,786 | 206,297 | |
Jio Financial Services Ltd.(1) | 25,074 | 98,646 | |
JSW Steel Ltd. | 14,970 | 167,236 | |
Kotak Mahindra Bank Ltd. | 3,824 | 82,987 | |
Larsen & Toubro Ltd. | 4,500 | 205,503 | |
Lupin Ltd. | 3,126 | 71,464 | |
Mahindra & Mahindra Ltd. | 4,776 | 166,323 | |
Maruti Suzuki India Ltd. | 1,314 | 210,246 | |
Max Healthcare Institute Ltd. | 9,725 | 107,545 | |
Nestle India Ltd. | 5,590 | 164,646 | |
NTPC Ltd. | 50,126 | 249,524 |
Security | Shares | Value | |
India (continued) | |||
Oil & Natural Gas Corp. Ltd. | 29,209 | $ 116,916 | |
Pidilite Industries Ltd. | 960 | 36,574 | |
Power Grid Corp. of India Ltd. | 61,021 | 254,894 | |
Reliance Industries Ltd. | 26,074 | 939,453 | |
Siemens Ltd. | 641 | 54,634 | |
SRF Ltd. | 3,200 | 101,296 | |
Sun Pharmaceutical Industries Ltd. | 17,276 | 354,949 | |
Sun TV Network Ltd. | 7,988 | 85,828 | |
Tata Consultancy Services Ltd. | 14,841 | 780,493 | |
Tata Consumer Products Ltd. | 7,384 | 104,981 | |
Tata Motors Ltd. | 12,352 | 171,417 | |
Tata Power Co. Ltd. | 43,199 | 234,464 | |
Tata Steel Ltd. | 67,800 | 134,326 | |
Tech Mahindra Ltd. | 14,661 | 272,673 | |
Titan Co. Ltd. | 4,132 | 171,394 | |
Torrent Pharmaceuticals Ltd. | 2,968 | 112,687 | |
Tube Investments of India Ltd. | 2,406 | 119,160 | |
UltraTech Cement Ltd. | 627 | 89,170 | |
UPL Ltd. | 7,038 | 48,230 | |
Vedanta Ltd. | 20,367 | 110,101 | |
Vodafone Idea Ltd.(1) | 388,069 | 75,520 | |
Voltas Ltd. | 6,353 | 117,109 | |
Wipro Ltd. | 21,949 | 136,708 | |
Zee Entertainment Enterprises Ltd.(1) | 44,401 | 78,832 | |
Zydus Lifesciences Ltd. | 3,597 | 53,747 | |
$ 14,194,376 | |||
Indonesia — 2.4% | |||
Adaro Energy Indonesia Tbk. PT | 1,211,600 | $ 240,079 | |
AKR Corporindo Tbk. PT | 1,258,400 | 117,296 | |
Aneka Tambang Tbk. PT | 939,800 | 76,118 | |
Aspirasi Hidup Indonesia Tbk. PT | 1,088,200 | 53,565 | |
Astra International Tbk. PT | 1,419,500 | 412,638 | |
Bank Central Asia Tbk. PT | 357,600 | 226,436 | |
Bank Mandiri Persero Tbk. PT | 317,400 | 125,179 | |
Bank Negara Indonesia Persero Tbk. PT | 226,000 | 69,218 | |
Bank Rakyat Indonesia Persero Tbk. PT | 505,368 | 145,415 | |
Barito Renewables Energy Tbk. PT | 641,900 | 342,117 | |
Bukit Asam Tbk. PT | 433,000 | 71,396 | |
Bumi Serpong Damai Tbk. PT(1) | 1,396,900 | 89,060 | |
Charoen Pokphand Indonesia Tbk. PT | 346,400 | 111,379 | |
Erajaya Swasembada Tbk. PT | 4,907,500 | 128,625 | |
GoTo Gojek Tokopedia Tbk. PT(1) | 33,431,200 | 109,401 | |
Gudang Garam Tbk. PT(1) | 57,100 | 55,354 | |
Indocement Tunggal Prakarsa Tbk. PT | 241,800 | 107,889 | |
Indofood Sukses Makmur Tbk. PT | 271,700 | 102,359 |
Security | Shares | Value | |
Indonesia (continued) | |||
Indosat Tbk. PT | 75,600 | $ 51,596 | |
Jasa Marga Persero Tbk. PT | 307,000 | 104,809 | |
Kalbe Farma Tbk. PT | 2,457,000 | 240,226 | |
Lippo Karawaci Tbk. PT(1) | 10,490,680 | 40,638 | |
Medco Energi Internasional Tbk. PT | 1,299,520 | 105,242 | |
Mitra Adiperkasa Tbk. PT | 1,163,700 | 103,829 | |
Mitra Keluarga Karyasehat Tbk. PT(5) | 1,185,700 | 220,207 | |
Perusahaan Gas Negara Tbk. PT | 1,365,300 | 134,462 | |
Perusahaan Perkebunan London Sumatra Indonesia Tbk. PT | 1,193,000 | 62,743 | |
Sarana Menara Nusantara Tbk. PT | 799,800 | 39,107 | |
Semen Indonesia Persero Tbk. PT | 320,600 | 77,150 | |
Telkom Indonesia Persero Tbk. PT | 1,606,600 | 285,339 | |
Unilever Indonesia Tbk. PT | 309,900 | 46,535 | |
United Tractors Tbk. PT | 130,583 | 207,300 | |
Vale Indonesia Tbk. PT(1) | 212,040 | 48,805 | |
Waskita Karya Persero Tbk. PT(1)(3) | 2,474,900 | 0 | |
Wijaya Karya Persero Tbk. PT(1) | 982,300 | 11,694 | |
XL Axiata Tbk. PT | 485,100 | 64,764 | |
$ 4,427,970 | |||
Jordan — 0.6% | |||
Arab Bank PLC | 52,362 | $ 313,763 | |
Arab Potash | 7,642 | 273,284 | |
Bank of Jordan | 24,010 | 72,852 | |
International General Insurance Holdings Ltd. | 4,200 | 72,912 | |
Jordan Islamic Bank | 13,918 | 78,085 | |
Jordan Petroleum Refinery Co. | 23,035 | 156,668 | |
Jordan Telecommunications Co. PSC | 14,640 | 59,678 | |
Jordanian Electric Power Co. | 18,089 | 55,633 | |
$ 1,082,875 | |||
Kazakhstan — 0.7% | |||
Freedom Holding Corp.(1) | 1,000 | $ 84,150 | |
Halyk Savings Bank of Kazakhstan JSC GDR(5) | 16,192 | 286,010 | |
Kaspi.KZ JSC ADR | 2,740 | 356,556 | |
KCell JSC GDR(3)(5) | 96,329 | 0 | |
NAC Kazatomprom JSC GDR(5) | 13,900 | 528,200 | |
$ 1,254,916 | |||
Kenya — 0.6% | |||
British American Tobacco Kenya PLC | 16,600 | $ 45,795 | |
East African Breweries PLC | 197,580 | 241,585 | |
Equity Group Holdings PLC | 555,500 | 174,530 |
Security | Shares | Value | |
Kenya (continued) | |||
KCB Group PLC(1) | 606,620 | $ 142,933 | |
Safaricom PLC | 3,938,372 | 485,971 | |
$ 1,090,814 | |||
Kuwait — 1.3% | |||
Agility Global PLC | 310,166 | $ 97,957 | |
Agility Public Warehousing Co. KSC | 155,083 | 139,261 | |
Boubyan Bank KSCP | 29,791 | 57,701 | |
Boubyan Petrochemicals Co. KSCP | 2,441 | 4,652 | |
Burgan Bank SAK | 80,830 | 50,505 | |
Gulf Bank KSCP | 128,461 | 130,710 | |
Kuwait Finance House KSCP | 217,147 | 523,678 | |
Mabanee Co. KPSC | 141,232 | 387,560 | |
Mobile Telecommunications Co. KSCP | 213,804 | 319,158 | |
National Bank of Kuwait SAKP | 153,905 | 456,339 | |
National Industries Group Holding SAK | 266,042 | 195,984 | |
$ 2,363,505 | |||
Lithuania — 0.4% | |||
Apranga PVA | 65,809 | $ 196,209 | |
KN Energies AB | 205,439 | 52,278 | |
Rokiskio Suris | 91,153 | 315,517 | |
Siauliu Bankas AB | 277,296 | 216,927 | |
$ 780,931 | |||
Malaysia — 2.5% | |||
Axiata Group Bhd. | 157,050 | $ 82,128 | |
CelcomDigi Bhd. | 79,844 | 66,084 | |
CIMB Group Holdings Bhd. | 90,800 | 146,817 | |
Dialog Group Bhd. | 363,831 | 201,300 | |
Gamuda Bhd. | 32,700 | 55,921 | |
Genting Bhd. | 165,500 | 170,541 | |
Genting Malaysia Bhd. | 265,500 | 150,436 | |
Globetronics Technology Bhd. | 582,200 | 162,523 | |
Hartalega Holdings Bhd.(1) | 212,408 | 141,038 | |
Hong Leong Bank Bhd. | 15,800 | 66,339 | |
IGB Real Estate Investment Trust | 192,600 | 82,152 | |
IHH Healthcare Bhd. | 308,400 | 422,868 | |
IJM Corp. Bhd. | 69,480 | 52,996 | |
Inari Amertron Bhd. | 321,600 | 265,152 | |
IOI Properties Group Bhd. | 142,658 | 66,180 | |
Kossan Rubber Industries Bhd. | 210,000 | 96,941 | |
Kuala Lumpur Kepong Bhd. | 14,600 | 67,036 | |
Magnum Bhd. | 192,167 | 53,984 | |
Malayan Banking Bhd. | 64,187 | 142,789 | |
Malaysia Airports Holdings Bhd. | 50,000 | 111,490 |
Security | Shares | Value | |
Malaysia (continued) | |||
Maxis Bhd. | 70,100 | $ 53,891 | |
MISC Bhd. | 43,400 | 83,080 | |
My EG Services Bhd. | 233,600 | 50,402 | |
Nestle Malaysia Bhd. | 2,600 | 61,500 | |
Petronas Chemicals Group Bhd. | 66,900 | 84,481 | |
Petronas Dagangan Bhd. | 56,900 | 219,846 | |
Petronas Gas Bhd. | 19,600 | 77,691 | |
Press Metal Aluminium Holdings Bhd. | 79,740 | 93,102 | |
Public Bank Bhd. | 95,290 | 87,358 | |
SD Guthrie Bhd. | 81,539 | 79,398 | |
Silverlake Axis Ltd. | 627,992 | 136,228 | |
Sports Toto Bhd. | 282,081 | 101,410 | |
Supermax Corp. Bhd.(1) | 220,554 | 43,214 | |
Telekom Malaysia Bhd. | 62,300 | 94,612 | |
Tenaga Nasional Bhd. | 30,638 | 93,933 | |
Top Glove Corp. Bhd.(1) | 696,800 | 156,358 | |
VS Industry Bhd. | 999,400 | 263,525 | |
YTL Corp. Bhd. | 241,391 | 179,537 | |
$ 4,564,281 | |||
Mauritius — 0.6% | |||
Alteo Ltd. | 245,799 | $ 55,122 | |
CIEL Ltd. | 1,094,295 | 174,781 | |
Lighthouse Properties PLC | 313,039 | 140,603 | |
MCB Group Ltd. | 36,102 | 297,686 | |
Miwa Sugar Ltd. | 245,799 | 64,763 | |
Phoenix Beverages Ltd. | 10,244 | 108,224 | |
Rogers & Co. Ltd. | 188,149 | 129,150 | |
SBM Holdings Ltd. | 974,963 | 99,274 | |
Sun Ltd., Class A | 58,200 | 50,463 | |
United Basalt Products | 21,996 | 39,391 | |
$ 1,159,457 | |||
Mexico — 4.1% | |||
Alfa SAB de CV, Series A(2) | 175,472 | $ 100,399 | |
Alsea SAB de CV | 58,800 | 176,801 | |
America Movil SAB de CV, Series B | 1,395,405 | 1,166,146 | |
Arca Continental SAB de CV(2) | 9,480 | 93,406 | |
Bolsa Mexicana de Valores SAB de CV | 46,975 | 73,119 | |
Cemex SAB de CV, Series CPO | 663,339 | 425,824 | |
Coca-Cola Femsa SAB de CV(2) | 15,795 | 142,715 | |
Corp. Inmobiliaria Vesta SAB de CV(2) | 97,400 | 285,388 | |
El Puerto de Liverpool SAB de CV, Class C1 | 24,080 | 170,567 | |
FIBRA Macquarie Mexico(4) | 109,968 | 185,631 | |
Fibra Uno Administracion SA de CV | 263,790 | 335,560 | |
Fomento Economico Mexicano SAB de CV, Series UBD | 42,256 | 466,152 |
Security | Shares | Value | |
Mexico (continued) | |||
Genomma Lab Internacional SAB de CV, Class B(2) | 76,500 | $ 78,631 | |
Gruma SAB de CV, Class B(2) | 5,355 | 100,486 | |
Grupo Aeroportuario del Centro Norte SAB de CV | 21,300 | 183,001 | |
Grupo Aeroportuario del Pacifico SAB de CV, Class B(2) | 23,687 | 379,353 | |
Grupo Aeroportuario del Sureste SAB de CV, Class B | 9,230 | 277,207 | |
Grupo Bimbo SAB de CV, Series A(2) | 31,645 | 111,406 | |
Grupo Carso SAB de CV, Series A1(2) | 28,800 | 186,579 | |
Grupo Elektra SAB de CV(2)(3) | 2,213 | 112,242 | |
Grupo Financiero Banorte SAB de CV, Class O | 36,700 | 275,600 | |
Grupo Financiero Inbursa SAB de CV, Class O(1)(2) | 83,300 | 204,282 | |
Grupo Mexico SAB de CV, Series B | 117,779 | 662,384 | |
Grupo Televisa SAB ADR | 35,500 | 77,390 | |
Industrias Penoles SAB de CV(1)(2) | 9,580 | 140,016 | |
Kimberly-Clark de Mexico SAB de CV, Class A | 47,400 | 84,466 | |
Orbia Advance Corp. SAB de CV | 49,699 | 64,154 | |
Promotora y Operadora de Infraestructura SAB de CV | 12,415 | 115,947 | |
Ternium SA ADR | 3,000 | 104,040 | |
TF Administradora Industrial S de Real de CV | 127,200 | 272,615 | |
Vista Energy SAB de CV ADR(1) | 5,600 | 252,336 | |
Wal-Mart de Mexico SAB de CV | 100,580 | 334,709 | |
$ 7,638,552 | |||
Morocco — 0.7% | |||
Attijariwafa Bank | 2,768 | $ 154,865 | |
Bank of Africa | 3,016 | 59,760 | |
Banque Centrale Populaire | 2,948 | 91,765 | |
Co. Sucrerie Marocaine et de Raffinage | 5,010 | 96,299 | |
Itissalat Al-Maghrib | 23,401 | 213,684 | |
Label Vie | 228 | 104,642 | |
LafargeHolcim Maroc SA | 940 | 185,515 | |
Societe d'Exploitation des Ports | 4,496 | 169,765 | |
TAQA Morocco SA | 415 | 56,475 | |
TotalEnergies Marketing Maroc SA | 466 | 67,813 | |
$ 1,200,583 | |||
Nigeria — 0.2% | |||
Dangote Cement PLC | 911,519 | $ 335,893 | |
$ 335,893 | |||
Oman — 0.6% | |||
Bank Muscat SAOG | 333,660 | $ 217,716 | |
National Bank of Oman SAOG | 149,081 | 102,964 | |
Oman Cement Co. SAOG | 72,148 | 74,289 | |
Oman Flour Mills Co. SAOG | 40,801 | 51,436 | |
Oman Telecommunications Co. SAOG | 83,628 | 217,378 | |
Omani Qatari Telecommunications Co. SAOG | 140,637 | 104,529 |
Security | Shares | Value | |
Oman (continued) | |||
Ominvest SAOG | 57,161 | $ 50,506 | |
OQ Gas Networks SAOC | 173,800 | 63,686 | |
Renaissance Services SAOG | 46,857 | 45,352 | |
Sembcorp Salalah Power & Water Co. SAOG | 410,180 | 110,994 | |
Sohar International Bank SAOG | 256,089 | 89,877 | |
$ 1,128,727 | |||
Pakistan — 0.6% | |||
Engro Corp. Ltd. | 42,010 | $ 49,877 | |
Fauji Fertilizer Co. Ltd. | 101,890 | 66,224 | |
Habib Bank Ltd. | 80,318 | 37,665 | |
Hub Power Co. Ltd. | 173,453 | 91,766 | |
IBEX Holdings Ltd.(1) | 3,200 | 55,808 | |
Lucky Cement Ltd. | 20,831 | 65,253 | |
Mari Petroleum Co. Ltd. | 10,863 | 103,389 | |
MCB Bank Ltd. | 61,976 | 50,543 | |
Meezan Bank Ltd. | 37,700 | 32,237 | |
Millat Tractors Ltd. | 24,000 | 54,439 | |
Nishat Mills Ltd. | 110,771 | 25,876 | |
Oil & Gas Development Co. Ltd. | 216,000 | 100,036 | |
Pakistan Oilfields Ltd. | 43,734 | 87,707 | |
Pakistan Petroleum Ltd. | 176,971 | 70,847 | |
Pakistan State Oil Co. Ltd. | 94,345 | 54,032 | |
Searle Co. Ltd.(1) | 96,770 | 20,140 | |
Systems Ltd. | 85,000 | 127,214 | |
United Bank Ltd. | 41,168 | 38,274 | |
$ 1,131,327 | |||
Panama — 0.2% | |||
Banco Latinoamericano de Comercio Exterior SA, Class E | 7,900 | $ 255,407 | |
Copa Holdings SA, Class A | 2,134 | 189,392 | |
$ 444,799 | |||
Peru — 1.2% | |||
Alicorp SAA(1) | 39,037 | $ 69,454 | |
Cia de Minas Buenaventura SAA ADR | 24,350 | 377,425 | |
Credicorp Ltd. | 4,300 | 733,752 | |
Ferreycorp SAA | 125,476 | 102,055 | |
Southern Copper Corp.(2) | 8,581 | 914,821 | |
$ 2,197,507 | |||
Philippines — 1.2% | |||
Aboitiz Equity Ventures, Inc. | 59,700 | $ 36,257 | |
Aboitiz Power Corp. | 133,700 | 75,743 | |
Ayala Corp. | 6,835 | 68,752 | |
Ayala Land, Inc. | 86,531 | 43,810 |
Security | Shares | Value | |
Philippines (continued) | |||
Ayala Land, Inc. GDR, PFC Shares(3) | 3,951,800 | $ 0 | |
Bank of the Philippine Islands | 32,774 | 68,139 | |
BDO Unibank, Inc. | 43,932 | 103,341 | |
Bloomberry Resorts Corp.(1) | 250,900 | 35,563 | |
D&L Industries, Inc. | 493,300 | 50,245 | |
Emperador, Inc. | 380,500 | 121,061 | |
First Gen Corp. | 165,322 | 49,036 | |
Globe Telecom, Inc. | 2,461 | 90,774 | |
GT Capital Holdings, Inc. | 4,440 | 44,912 | |
International Container Terminal Services, Inc. | 21,950 | 134,020 | |
JG Summit Holdings, Inc. | 122,158 | 58,215 | |
Jollibee Foods Corp. | 26,326 | 103,892 | |
Manila Electric Co. | 10,790 | 72,076 | |
Manila Water Co., Inc. | 295,100 | 137,114 | |
Megaworld Corp. | 1,361,400 | 42,245 | |
PLDT, Inc. | 7,100 | 184,356 | |
Puregold Price Club, Inc. | 337,403 | 152,157 | |
Semirara Mining & Power Corp. | 86,520 | 49,602 | |
SM Investments Corp. | 9,901 | 154,312 | |
SM Prime Holdings, Inc. | 178,329 | 88,111 | |
Universal Robina Corp. | 50,455 | 102,955 | |
Wilcon Depot, Inc. | 170,900 | 51,248 | |
$ 2,117,936 | |||
Poland — 2.5% | |||
Allegro.eu SA(1)(4) | 33,900 | $ 311,406 | |
Asseco Poland SA | 7,876 | 166,934 | |
Bank Polska Kasa Opieki SA | 5,843 | 236,706 | |
Budimex SA | 2,710 | 436,123 | |
CD Projekt SA(2) | 7,200 | 289,019 | |
Cyfrowy Polsat SA(1)(2) | 41,244 | 134,927 | |
Eurocash SA(1) | 100,652 | 297,272 | |
Grupa Azoty SA(1)(2) | 9,267 | 42,200 | |
Grupa Kety SA | 575 | 119,277 | |
KGHM Polska Miedz SA | 9,958 | 342,327 | |
LPP SA | 83 | 318,218 | |
mBank SA(1) | 735 | 115,546 | |
Neuca SA | 262 | 53,797 | |
Orange Polska SA | 75,376 | 151,023 | |
ORLEN SA | 41,032 | 669,070 | |
PGE Polska Grupa Energetyczna SA(1) | 51,434 | 94,699 | |
Powszechna Kasa Oszczednosci Bank Polski SA | 24,715 | 367,300 | |
Powszechny Zaklad Ubezpieczen SA | 23,135 | 283,314 | |
Santander Bank Polska SA | 762 | 100,415 | |
Tauron Polska Energia SA(1) | 129,348 | 123,944 | |
$ 4,653,517 |
Security | Shares | Value | |
Qatar — 1.2% | |||
Aamal Co.(1) | 230,000 | $ 50,110 | |
Al Meera Consumer Goods Co. QSC | 26,954 | 108,188 | |
Barwa Real Estate Co. | 143,634 | 109,418 | |
Commercial Bank PSQC | 49,707 | 56,954 | |
Gulf International Services QSC | 201,811 | 191,110 | |
Industries Qatar QSC | 98,345 | 353,287 | |
Masraf Al Rayan QSC | 147,361 | 94,103 | |
Medicare Group | 45,960 | 52,014 | |
Ooredoo QPSC | 39,870 | 114,227 | |
Qatar Aluminum Manufacturing Co. | 204,257 | 72,805 | |
Qatar Electricity & Water Co. QSC | 44,621 | 188,150 | |
Qatar Gas Transport Co. Ltd. | 228,433 | 282,205 | |
Qatar Islamic Bank QPSC | 27,137 | 146,462 | |
Qatar National Bank QPSC | 68,885 | 288,400 | |
United Development Co. QSC | 156,214 | 47,136 | |
Vodafone Qatar QSC | 215,393 | 99,770 | |
$ 2,254,339 | |||
Romania — 0.7% | |||
Banca Transilvania SA | 34,021 | $ 214,627 | |
BRD-Groupe Societe Generale SA | 27,477 | 132,038 | |
MED Life SA(1) | 112,800 | 142,357 | |
OMV Petrom SA | 2,113,597 | 363,109 | |
Societatea Nationala de Gaze Naturale ROMGAZ SA | 220,460 | 284,682 | |
Societatea Nationala Nuclearelectrica SA | 9,700 | 99,143 | |
$ 1,235,956 | |||
Russia(6) — 0.0% | |||
Aeroflot PJSC(1)(3) | 320,440 | $ 0 | |
Alrosa PJSC(3) | 177,900 | 0 | |
Detsky Mir PJSC(1)(3)(4) | 105,940 | 0 | |
Evraz PLC(1)(3) | 34,831 | 0 | |
Federal Grid Co.-Rosseti PJSC(1)(3) | 78,095,360 | 0 | |
GMK Norilskiy Nickel PAO(3) | 338,700 | 0 | |
Inter RAO UES PJSC(3) | 6,829,769 | 0 | |
Magnit PJSC(3) | 13,121 | 0 | |
Magnitogorsk Iron & Steel Works PJSC(3) | 182,710 | 0 | |
MMC Norilsk Nickel PJSC ADR(1)(3) | 5 | 0 | |
Mobile TeleSystems PJSC(3) | 89,417 | 0 | |
Moscow Exchange MICEX-Rates PJSC(3) | 47,890 | 0 | |
Novatek PJSC(3) | 23,410 | 0 | |
OGK-2 PJSC(1)(3) | 12,211,000 | 0 | |
PhosAgro PJSC(3) | 2,547 | 0 | |
PhosAgro PJSC GDR(3)(5) | 49 | 0 | |
PhosAgro PJSC GDR(1)(3)(5) | 2 | 0 | |
PIK-Spetsializirovannyy Zastroyshchik PAO(1)(3) | 20,850 | 0 |
Security | Shares | Value | |
Russia (continued) | |||
Rostelecom PJSC(3) | 107,057 | $ 0 | |
RusHydro PJSC(1)(3) | 16,550,080 | 0 | |
Sberbank of Russia PJSC(3) | 123,888 | 0 | |
Severstal PAO GDR(1)(3)(5) | 13,622 | 0 | |
Sistema AFK PAO(3) | 453,878 | 0 | |
Surgutneftegas PJSC, PFC Shares(3) | 260,300 | 0 | |
Unipro PJSC(1)(3) | 1,521,000 | 0 | |
$ 0 | |||
Saudi Arabia — 4.6% | |||
Abdullah Al Othaim Markets Co. | 23,030 | $ 71,860 | |
Advanced Petrochemical Co.(1) | 4,088 | 43,563 | |
Al Hammadi Holding | 8,581 | 107,331 | |
Al Rajhi Bank | 13,800 | 314,651 | |
Alandalus Property Co. | 10,258 | 66,032 | |
Aldrees Petroleum and Transport Services Co. | 2,362 | 71,025 | |
Almarai Co. JSC | 15,297 | 246,370 | |
Arabian Centres Co.(4) | 26,197 | 139,558 | |
Arriyadh Development Co. | 9,090 | 57,846 | |
Astra Industrial Group | 3,516 | 149,690 | |
Banque Saudi Fransi | 11,191 | 110,361 | |
Catrion Catering Holding Co. | 3,323 | 102,766 | |
Dallah Healthcare Co. | 3,734 | 164,687 | |
Dar Al Arkan Real Estate Development Co.(1) | 39,620 | 143,051 | |
Dr. Sulaiman Al Habib Medical Services Group Co. | 8,770 | 673,333 | |
Elm Co. | 1,185 | 288,992 | |
Emaar Economic City(1) | 31,068 | 59,628 | |
Etihad Etisalat Co. | 18,320 | 254,471 | |
Fawaz Abdulaziz Al Hokair & Co.(1) | 16,655 | 34,587 | |
Herfy Food Services Co.(1) | 4,801 | 34,036 | |
Jarir Marketing Co. | 70,160 | 242,881 | |
Leejam Sports Co. JSC | 1,692 | 90,145 | |
Maharah Human Resources Co. | 37,080 | 70,445 | |
Mobile Telecommunications Co. Saudi Arabia | 27,145 | 78,764 | |
Mouwasat Medical Services Co. | 12,078 | 388,627 | |
National Gas & Industrialization Co. | 7,147 | 202,862 | |
National Medical Care Co. | 1,900 | 104,725 | |
Riyad Bank | 16,422 | 120,133 | |
SABIC Agri-Nutrients Co. | 2,468 | 77,442 | |
Sahara International Petrochemical Co. | 6,353 | 48,344 | |
Saudi Arabian Mining Co.(1) | 12,078 | 138,683 | |
Saudi Arabian Oil Co.(4) | 103,252 | 759,607 | |
Saudi Awwal Bank | 4,956 | 51,856 | |
Saudi Basic Industries Corp. | 9,127 | 191,664 | |
Saudi Ceramic Co.(1) | 10,566 | 79,834 | |
Saudi Chemical Co. Holding | 71,250 | 214,561 |
Security | Shares | Value | |
Saudi Arabia (continued) | |||
Saudi Electricity Co. | 97,768 | $ 445,462 | |
Saudi Ground Services Co.(1) | 9,867 | 134,654 | |
Saudi Industrial Investment Group | 10,164 | 55,338 | |
Saudi Kayan Petrochemical Co.(1) | 11,609 | 25,243 | |
Saudi National Bank | 20,920 | 211,383 | |
Saudi Pharmaceutical Industries & Medical Appliances Corp.(1) | 9,738 | 74,792 | |
Saudi Public Transport Co.(1) | 16,000 | 78,791 | |
Saudi Telecom Co. | 52,115 | 535,321 | |
Saudia Dairy & Foodstuff Co. | 1,526 | 139,689 | |
Savola Group(1) | 26,583 | 323,361 | |
Seera Group Holding(1) | 22,676 | 149,932 | |
United Electronics Co. | 6,923 | 169,554 | |
United International Transportation Co. | 3,246 | 77,384 | |
Yanbu National Petrochemical Co. | 5,300 | 57,144 | |
$ 8,472,459 | |||
Slovenia — 0.7% | |||
Cinkarna Celje DD | 1,370 | $ 35,266 | |
Krka DD Novo mesto | 4,884 | 737,025 | |
Luka Koper | 1,400 | 61,741 | |
Petrol DD Ljubljana | 3,820 | 123,955 | |
Pozavarovalnica Sava DD | 3,525 | 145,763 | |
Telekom Slovenije DD | 659 | 54,914 | |
Zavarovalnica Triglav DD | 1,406 | 56,308 | |
$ 1,214,972 | |||
South Africa — 5.4% | |||
Anglo American Platinum Ltd. | 1,244 | $ 48,286 | |
Anglogold Ashanti PLC | 9,504 | 273,673 | |
Aspen Pharmacare Holdings Ltd. | 54,491 | 753,316 | |
AVI Ltd. | 13,138 | 70,553 | |
Barloworld Ltd. | 41,807 | 213,431 | |
Bid Corp. Ltd. | 13,100 | 326,360 | |
Bidvest Group Ltd. | 48,342 | 726,540 | |
Capitec Bank Holdings Ltd. | 1,232 | 192,138 | |
Clicks Group Ltd. | 13,500 | 262,745 | |
DataTec Ltd. | 72,300 | 141,853 | |
Discovery Ltd. | 12,290 | 96,485 | |
Equites Property Fund Ltd. | 104,000 | 74,720 | |
Exxaro Resources Ltd. | 51,110 | 547,598 | |
FirstRand Ltd. | 77,535 | 348,397 | |
Fortress Real Estate Investments Ltd., Class B | 175,418 | 164,821 | |
Foschini Group Ltd. | 12,308 | 90,935 | |
Gold Fields Ltd. | 15,697 | 273,279 | |
Growthpoint Properties Ltd. | 255,900 | 173,446 |
Security | Shares | Value | |
South Africa (continued) | |||
Harmony Gold Mining Co. Ltd. | 18,553 | $ 181,923 | |
Hyprop Investments Ltd. | 31,700 | 56,181 | |
Impala Platinum Holdings Ltd. | 18,462 | 94,843 | |
Kumba Iron Ore Ltd. | 2,760 | 60,281 | |
Life Healthcare Group Holdings Ltd. | 258,186 | 189,144 | |
Mr. Price Group Ltd. | 12,155 | 144,550 | |
MTN Group Ltd. | 103,700 | 449,969 | |
MultiChoice Group(1) | 20,757 | 124,562 | |
Naspers Ltd., Class N | 6,607 | 1,278,430 | |
NEPI Rockcastle NV | 38,480 | 289,855 | |
Netcare Ltd. | 149,337 | 106,826 | |
Pick n Pay Stores Ltd.(1)(2) | 14,362 | 18,326 | |
Redefine Properties Ltd. | 579,291 | 135,398 | |
Resilient REIT Ltd. | 48,463 | 133,904 | |
Reunert Ltd. | 55,746 | 219,894 | |
Sanlam Ltd. | 28,912 | 129,527 | |
Sasol Ltd. | 10,993 | 89,140 | |
Shoprite Holdings Ltd. | 21,115 | 353,839 | |
Sibanye Stillwater Ltd. | 48,312 | 55,167 | |
SPAR Group Ltd.(1)(2) | 14,831 | 102,281 | |
Standard Bank Group Ltd. | 16,101 | 196,241 | |
Telkom SA SOC Ltd.(1) | 33,018 | 42,850 | |
Thungela Resources Ltd. | 2,700 | 17,911 | |
Tiger Brands Ltd. | 10,940 | 134,094 | |
Vodacom Group Ltd. | 50,500 | 283,944 | |
Wilson Bayly Holmes-Ovcon Ltd. | 19,623 | 193,541 | |
Woolworths Holdings Ltd. | 46,024 | 152,238 | |
Zeda Ltd. | 41,807 | 28,744 | |
$ 10,042,179 | |||
South Korea — 4.9% | |||
Alteogen, Inc.(1) | 757 | $ 174,550 | |
Amorepacific Corp. | 852 | 113,242 | |
AMOREPACIFIC Group | 2,180 | 49,605 | |
BGF Retail Co. Ltd. | 520 | 39,276 | |
Celltrion Pharm, Inc.(1) | 1,417 | 104,121 | |
Celltrion, Inc. | 4,920 | 736,507 | |
CJ CheilJedang Corp. | 423 | 119,438 | |
CJ Logistics Corp. | 566 | 40,821 | |
Coway Co. Ltd. | 2,548 | 116,571 | |
Daewoo Industrial Development Co. Ltd.(1) | 3,657 | 0 | |
DL E&C Co. Ltd. | 1,924 | 49,488 | |
E-MART, Inc. | 1,232 | 54,315 | |
GS Holdings Corp. | 1,569 | 56,169 | |
Hankook Tire & Technology Co. Ltd. | 1,479 | 48,298 | |
Hanmi Pharm Co. Ltd. | 352 | 74,387 |
Security | Shares | Value | |
South Korea (continued) | |||
Hanwha Solutions Corp. | 3,687 | $ 67,001 | |
HD Hyundai Co. Ltd. | 1,210 | 74,150 | |
HD Korea Shipbuilding & Offshore Engineering Co. Ltd.(1) | 993 | 150,634 | |
HLB, Inc.(1) | 1,969 | 116,949 | |
Hugel, Inc.(1) | 653 | 116,930 | |
HYBE Co. Ltd. | 500 | 64,317 | |
Hyundai Department Store Co. Ltd. | 1,615 | 55,487 | |
Hyundai Engineering & Construction Co. Ltd. | 2,645 | 64,625 | |
Hyundai Glovis Co. Ltd. | 1,516 | 134,936 | |
Hyundai Mobis Co. Ltd. | 792 | 128,138 | |
Hyundai Motor Co. | 1,500 | 273,375 | |
Hyundai Steel Co. | 3,449 | 69,788 | |
Kakao Corp. | 5,676 | 163,112 | |
Kangwon Land, Inc. | 5,706 | 60,162 | |
KB Financial Group, Inc. | 3,231 | 208,871 | |
Kia Corp. | 3,041 | 249,534 | |
Korea Electric Power Corp. | 4,640 | 66,962 | |
Korea Zinc Co. Ltd. | 283 | 100,337 | |
Krafton, Inc.(1) | 763 | 164,517 | |
KT&G Corp. | 3,552 | 242,146 | |
Kumho Petrochemical Co. Ltd. | 743 | 75,364 | |
LG Chem Ltd. | 652 | 146,624 | |
LG Corp. | 1,914 | 122,060 | |
LG Electronics, Inc. | 909 | 69,221 | |
LG H&H Co. Ltd. | 461 | 118,594 | |
LG Uplus Corp. | 7,151 | 52,303 | |
Medytox, Inc. | 351 | 44,299 | |
Mezzion Pharma Co. Ltd.(1) | 1,597 | 37,801 | |
NAVER Corp. | 2,921 | 372,551 | |
NCSoft Corp. | 372 | 47,734 | |
Orion Corp. of Republic of Korea | 1,268 | 81,255 | |
POSCO Holdings, Inc. | 619 | 160,074 | |
S-1 Corp. | 1,533 | 63,213 | |
Samsung Biologics Co. Ltd.(1)(4) | 429 | 294,333 | |
Samsung C&T Corp. | 554 | 63,102 | |
Samsung Electro-Mechanics Co. Ltd. | 443 | 51,788 | |
Samsung Electronics Co. Ltd. | 29,314 | 1,807,566 | |
Samsung SDI Co. Ltd. | 523 | 122,973 | |
Samsung SDS Co. Ltd. | 570 | 61,680 | |
Shinhan Financial Group Co. Ltd. | 1,769 | 77,802 | |
SK Hynix, Inc. | 3,240 | 464,692 | |
SK Innovation Co. Ltd.(1) | 1,810 | 138,024 | |
SK, Inc. | 563 | 61,749 | |
S-Oil Corp. | 2,051 | 101,179 |
Security | Shares | Value | |
South Korea (continued) | |||
Yuhan Corp. | 2,343 | $ 161,432 | |
Zyle Motors Corp.(1)(3) | 5,113 | 0 | |
$ 9,146,172 | |||
Sri Lanka — 0.5% | |||
Aitken Spence PLC(1) | 109,000 | $ 44,872 | |
Ceylon Tobacco Co. PLC | 24,480 | 99,647 | |
Chevron Lubricants Lanka PLC | 149,215 | 59,898 | |
Commercial Bank of Ceylon PLC | 279,708 | 85,361 | |
Dialog Axiata PLC | 1,107,719 | 34,418 | |
Hatton National Bank PLC | 123,656 | 77,523 | |
John Keells Holdings PLC | 378,187 | 213,971 | |
Lanka IOC PLC | 179,858 | 69,012 | |
Melstacorp PLC | 596,058 | 157,971 | |
Sampath Bank PLC | 293,638 | 72,855 | |
Teejay Lanka PLC | 460,029 | 60,834 | |
$ 976,362 | |||
Taiwan — 8.1% | |||
Accton Technology Corp. | 3,000 | $ 47,026 | |
Acer, Inc. | 119,519 | 161,323 | |
Advantech Co. Ltd. | 9,565 | 101,739 | |
Airtac International Group | 4,178 | 107,097 | |
ASE Technology Holding Co. Ltd. | 23,561 | 109,962 | |
Asia Cement Corp. | 51,000 | 64,431 | |
Asustek Computer, Inc. | 7,325 | 102,723 | |
AUO Corp. | 150,269 | 82,047 | |
Catcher Technology Co. Ltd. | 12,183 | 79,357 | |
Cathay Financial Holding Co. Ltd. | 71,295 | 136,517 | |
Center Laboratories, Inc. | 133,088 | 203,169 | |
Chailease Holding Co. Ltd. | 13,109 | 61,155 | |
Cheng Shin Rubber Industry Co. Ltd. | 110,672 | 163,070 | |
China Airlines Ltd. | 124,000 | 87,228 | |
China Motor Corp. | 14,926 | 44,812 | |
China Steel Corp. | 223,734 | 158,353 | |
Chong Hong Construction Co. Ltd. | 15,000 | 62,570 | |
Chunghwa Telecom Co. Ltd. | 139,746 | 517,827 | |
CTBC Financial Holding Co. Ltd. | 134,275 | 145,744 | |
Delta Electronics, Inc. | 12,151 | 156,065 | |
Eclat Textile Co. Ltd. | 7,159 | 116,272 | |
EVA Airways Corp. | 81,861 | 86,275 | |
Evergreen International Storage & Transport Corp. | 93,000 | 87,829 | |
Evergreen Marine Corp. Taiwan Ltd. | 34,576 | 179,585 | |
Far Eastern Department Stores Ltd. | 70,990 | 66,206 | |
Far Eastern New Century Corp. | 139,695 | 145,322 | |
Far EasTone Telecommunications Co. Ltd. | 73,084 | 192,526 |
Security | Shares | Value | |
Taiwan (continued) | |||
Feng Hsin Steel Co. Ltd. | 32,260 | $ 78,077 | |
Feng TAY Enterprise Co. Ltd. | 20,160 | 86,349 | |
Formosa Chemicals & Fibre Corp. | 108,014 | 164,458 | |
Formosa Petrochemical Corp. | 79,320 | 155,632 | |
Formosa Plastics Corp. | 85,183 | 150,418 | |
Formosa Taffeta Co. Ltd. | 98,149 | 66,620 | |
Fubon Financial Holding Co. Ltd. | 64,739 | 175,311 | |
Giant Manufacturing Co. Ltd. | 18,868 | 136,756 | |
Great Wall Enterprise Co. Ltd.(1) | 56,455 | 98,951 | |
Highwealth Construction Corp. | 62,928 | 123,217 | |
Hiwin Technologies Corp. | 17,069 | 104,975 | |
Hon Hai Precision Industry Co. Ltd. | 75,443 | 462,836 | |
Hotai Motor Co. Ltd. | 12,240 | 242,742 | |
Huaku Development Co. Ltd. | 14,300 | 72,788 | |
Innolux Corp. | 208,059 | 97,854 | |
International Games System Co. Ltd. | 16,000 | 366,063 | |
Inventec Corp. | 89,966 | 133,038 | |
Largan Precision Co. Ltd. | 795 | 68,974 | |
Lien Hwa Industrial Holdings Corp. | 88,576 | 169,071 | |
Lite-On Technology Corp. | 34,000 | 103,983 | |
Makalot Industrial Co. Ltd. | 13,000 | 178,182 | |
MediaTek, Inc. | 10,462 | 398,446 | |
Medigen Vaccine Biologics Corp.(1) | 20,759 | 29,584 | |
Mega Financial Holding Co. Ltd. | 117,392 | 154,795 | |
Merida Industry Co. Ltd. | 17,657 | 135,222 | |
momo.com, Inc. | 3,960 | 50,432 | |
Nan Kang Rubber Tire Co. Ltd.(1) | 95,253 | 153,538 | |
Nan Ya Plastics Corp. | 125,214 | 191,598 | |
Nien Made Enterprise Co. Ltd. | 11,000 | 133,595 | |
Novatek Microelectronics Corp. | 9,000 | 145,148 | |
Oneness Biotech Co. Ltd.(1) | 22,697 | 109,804 | |
Pegatron Corp. | 23,028 | 71,136 | |
Polaris Group(1) | 27,979 | 54,469 | |
Pou Chen Corp. | 151,819 | 167,582 | |
President Chain Store Corp. | 20,664 | 175,029 | |
Quanta Computer, Inc. | 12,508 | 106,565 | |
Realtek Semiconductor Corp. | 6,002 | 94,681 | |
Ruentex Development Co. Ltd. | 73,133 | 114,809 | |
Ruentex Industries Ltd. | 46,302 | 113,858 | |
St. Shine Optical Co. Ltd. | 22,000 | 118,394 | |
TA Chen Stainless Pipe Co.(1) | 67,872 | 81,051 | |
Tainan Spinning Co. Ltd.(1) | 147,822 | 79,635 | |
Taiwan Fertilizer Co. Ltd. | 37,000 | 72,812 | |
Taiwan High Speed Rail Corp. | 104,000 | 94,440 | |
Taiwan Mobile Co. Ltd. | 76,296 | 245,444 | |
Taiwan Semiconductor Manufacturing Co. Ltd. | 101,369 | 2,957,064 |
Security | Shares | Value | |
Taiwan (continued) | |||
Tatung Co. Ltd.(1) | 86,000 | $ 131,779 | |
TCC Group Holdings Co. Ltd. | 172,073 | 182,058 | |
Teco Electric & Machinery Co. Ltd. | 120,000 | 178,449 | |
Tong Yang Industry Co. Ltd. | 20,608 | 58,628 | |
TTY Biopharm Co. Ltd. | 94,096 | 212,487 | |
Tung Ho Steel Enterprise Corp. | 32,200 | 72,243 | |
Unimicron Technology Corp. | 21,000 | 117,021 | |
Uni-President Enterprises Corp. | 211,831 | 544,386 | |
United Microelectronics Corp. | 102,090 | 162,639 | |
Voltronic Power Technology Corp. | 4,000 | 227,661 | |
Walsin Lihwa Corp. | 74,000 | 78,083 | |
Wei Chuan Foods Corp. | 179,000 | 99,239 | |
Yageo Corp. | 3,163 | 77,132 | |
Yang Ming Marine Transport Corp. | 68,621 | 132,978 | |
Yieh Phui Enterprise Co. Ltd. | 90,348 | 41,863 | |
$ 15,068,302 | |||
Thailand — 5.0% | |||
Advanced Info Service PCL(7) | 63,400 | $ 416,692 | |
Airports of Thailand PCL(7) | 209,700 | 332,756 | |
Asset World Corp. PCL(7) | 613,200 | 62,734 | |
B Grimm Power PCL(7) | 72,100 | 43,803 | |
Bangkok Bank PCL(7) | 17,300 | 66,513 | |
Bangkok Chain Hospital PCL(7) | 316,800 | 152,970 | |
Bangkok Dusit Medical Services PCL, Class F(7) | 746,100 | 550,008 | |
Bangkok Expressway & Metro PCL(7) | 471,900 | 103,407 | |
Bangkok Land PCL(7) | 2,263,800 | 34,315 | |
Banpu PCL(7) | 131,633 | 18,361 | |
BTS Group Holdings PCL(7) | 331,100 | 40,029 | |
Bumrungrad Hospital PCL(7) | 65,400 | 451,551 | |
Carabao Group PCL(7) | 27,500 | 51,028 | |
Central Pattana PCL(7) | 81,600 | 126,682 | |
Central Retail Corp. PCL(7) | 154,166 | 137,574 | |
Charoen Pokphand Foods PCL(1)(7) | 188,700 | 127,160 | |
Chularat Hospital PCL(7) | 1,881,100 | 126,634 | |
CP ALL PCL(7) | 183,700 | 300,562 | |
CP Axtra PCL(7) | 85,100 | 72,924 | |
CPN Retail Growth Leasehold REIT(7) | 146,500 | 44,441 | |
Delta Electronics Thailand PCL(7) | 629,400 | 1,812,544 | |
Electricity Generating PCL(7) | 12,700 | 34,973 | |
Energy Absolute PCL(7) | 126,000 | 12,780 | |
Global Power Synergy PCL, Class F(7) | 43,300 | 48,479 | |
Gulf Energy Development PCL(7) | 266,100 | 357,220 | |
Hana Microelectronics PCL(7) | 140,900 | 184,775 | |
Home Product Center PCL(7) | 409,255 | 104,667 | |
Indorama Ventures PCL(7) | 172,600 | 93,680 |
Security | Shares | Value | |
Thailand (continued) | |||
Intouch Holdings PCL(7) | 42,800 | $ 98,895 | |
Jasmine International PCL(7) | 634,000 | 49,474 | |
Jaymart Group Holdings PCL(1)(7) | 164,100 | 55,473 | |
Kasikornbank PCL(7) | 32,000 | 118,204 | |
KCE Electronics PCL(7) | 152,800 | 191,929 | |
Land & Houses PCL(7) | 489,100 | 78,943 | |
Mega Lifesciences PCL(7) | 111,800 | 114,632 | |
Minor International PCL(7) | 159,544 | 130,005 | |
PTG Energy PCL(7) | 277,800 | 61,660 | |
PTT Exploration & Production PCL(7) | 81,298 | 334,269 | |
PTT Global Chemical PCL(7) | 131,900 | 101,037 | |
PTT Oil & Retail Business PCL(7) | 223,900 | 99,375 | |
PTT PCL(7) | 462,500 | 415,107 | |
Samart Corp. PCL(1)(7) | 297,700 | 52,230 | |
SCB X PCL(7) | 45,300 | 130,948 | |
SCG Packaging PCL(7) | 137,600 | 109,457 | |
Siam Cement PCL(7) | 20,500 | 127,249 | |
Siam City Cement PCL(7) | 23,983 | 91,161 | |
Siam Global House PCL(7) | 116,917 | 50,599 | |
Sino-Thai Engineering & Construction PCL(7) | 251,357 | 67,096 | |
Sri Trang Agro-Industry PCL(7) | 89,600 | 49,852 | |
Thai Beverage PCL(2)(7) | 371,300 | 140,213 | |
Thai Oil PCL(7) | 63,600 | 90,060 | |
True Corp. PCL(1)(7) | 1,343,814 | 349,946 | |
VGI PCL(1)(7) | 729,400 | 33,410 | |
WHA Corp. PCL(7) | 1,020,100 | 150,394 | |
$ 9,200,880 | |||
Tunisia — 0.4% | |||
Banque de Tunisie | 38,193 | $ 63,308 | |
Banque Internationale Arabe de Tunisie | 2,758 | 89,434 | |
Banque Nationale Agricole | 24,362 | 65,282 | |
Carthage Cement(1) | 150,032 | 95,554 | |
Euro Cycles SA(1) | 8,418 | 31,608 | |
Poulina Group | 32,719 | 91,568 | |
Societe D'Articles Hygieniques SA | 16,810 | 50,305 | |
Societe Frigorifique et Brasserie de Tunis SA | 57,148 | 226,170 | |
Telnet Holding | 12,212 | 21,684 | |
$ 734,913 | |||
Turkey — 4.8% | |||
AG Anadolu Grubu Holding AS | 6,200 | $ 79,814 | |
Akbank TAS | 87,196 | 162,868 | |
Aksa Akrilik Kimya Sanayii AS | 399,624 | 122,255 | |
Aksa Enerji Uretim AS | 121,924 | 152,063 | |
Anadolu Efes Biracilik Ve Malt Sanayii AS | 21,780 | 175,685 |
Security | Shares | Value | |
Turkey (continued) | |||
Arcelik AS | 40,551 | $ 205,775 | |
Aselsan Elektronik Sanayi Ve Ticaret AS | 88,312 | 166,783 | |
Aygaz AS | 40,310 | 208,785 | |
Bera Holding AS | 62,496 | 32,159 | |
BIM Birlesik Magazalar AS | 30,152 | 569,804 | |
Can2 Termik AS(1) | 873,025 | 47,692 | |
Coca-Cola Icecek AS | 5,200 | 132,864 | |
Dogan Sirketler Grubu Holding AS | 178,300 | 90,350 | |
EGE Endustri VE Ticaret AS | 380 | 140,249 | |
Emlak Konut Gayrimenkul Yatirim Ortakligi AS(1) | 937,230 | 327,882 | |
Enerjisa Enerji AS(4) | 130,603 | 266,369 | |
Enka Insaat ve Sanayi AS | 114,918 | 161,735 | |
Eregli Demir ve Celik Fabrikalari TAS | 124,114 | 210,008 | |
Fenerbahce Futbol AS(1) | 17,500 | 73,978 | |
Ford Otomotiv Sanayi AS | 9,441 | 283,482 | |
Gubre Fabrikalari TAS(1) | 7,200 | 35,304 | |
Haci Omer Sabanci Holding AS | 44,727 | 134,194 | |
Hektas Ticaret TAS(1) | 116,874 | 42,723 | |
Ipek Dogal Enerji Kaynaklari Arastirma Ve Uretim AS(1) | 42,459 | 57,613 | |
Is Gayrimenkul Yatirim Ortakligi AS(1) | 221,310 | 108,744 | |
Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class D | 97,127 | 88,701 | |
KOC Holding AS | 35,594 | 231,192 | |
Koza Altin Isletmeleri AS(1) | 105,052 | 73,531 | |
Logo Yazilim Sanayi Ve Ticaret AS | 49,980 | 169,202 | |
Mavi Giyim Sanayi Ve Ticaret AS, Class B(4) | 28,520 | 97,073 | |
Migros Ticaret AS | 6,379 | 101,641 | |
MLP Saglik Hizmetleri AS(1)(4) | 37,219 | 413,080 | |
ODAS Elektrik Uretim ve Sanayi Ticaret AS(1) | 368,337 | 89,932 | |
Penta Teknoloji Urunleri Dagitim Ticaret AS(1) | 116,838 | 56,620 | |
Petkim Petrokimya Holding AS(1) | 175,096 | 127,648 | |
Sasa Polyester Sanayi AS(1) | 98,600 | 138,251 | |
Selcuk Ecza Deposu Ticaret ve Sanayi AS | 85,509 | 149,304 | |
Sinpas Gayrimenkul Yatirim Ortakligi AS(1) | 511,180 | 104,403 | |
Sok Marketler Ticaret AS | 51,800 | 93,561 | |
Tofas Turk Otomobil Fabrikasi AS | 18,438 | 155,948 | |
Turk Hava Yollari AO(1) | 22,374 | 195,344 | |
Turk Telekomunikasyon AS(1) | 174,514 | 269,337 | |
Turkcell Iletisim Hizmetleri AS | 257,389 | 821,037 | |
Turkiye Is Bankasi AS, Class C | 315,539 | 142,748 | |
Turkiye Petrol Rafinerileri AS | 226,403 | 1,116,410 | |
Turkiye Sise ve Cam Fabrikalari AS | 78,410 | 111,366 | |
Ulker Biskuvi Sanayi AS(1) | 16,690 | 84,536 | |
Yapi ve Kredi Bankasi AS | 133,100 | 121,239 | |
$ 8,941,282 |
Security | Shares | Value | |
United Arab Emirates — 2.4% | |||
Abu Dhabi Commercial Bank PJSC | 88,644 | $ 214,776 | |
Abu Dhabi National Oil Co. for Distribution PJSC | 433,000 | 420,692 | |
ADNOC Drilling Co. PJSC | 407,000 | 487,754 | |
Adnoc Gas PLC | 75,600 | 64,245 | |
Agthia Group PJSC | 56,748 | 110,704 | |
Air Arabia PJSC | 212,497 | 152,243 | |
Aldar Properties PJSC | 44,073 | 88,693 | |
Apex Investment Co. PSC(1) | 127,200 | 58,759 | |
Borouge PLC | 162,000 | 107,647 | |
Dana Gas PJSC(1) | 421,411 | 78,581 | |
Dubai Electricity & Water Authority PJSC | 861,560 | 558,338 | |
Dubai Investments PJSC | 212,181 | 117,750 | |
Dubai Islamic Bank PJSC | 109,508 | 174,472 | |
Emaar Development PJSC | 104,800 | 242,392 | |
Emaar Properties PJSC | 164,638 | 386,811 | |
Emirates Telecommunications Group Co. PJSC | 111,500 | 497,221 | |
Fertiglobe PLC | 170,700 | 115,263 | |
First Abu Dhabi Bank PJSC | 66,119 | 234,961 | |
Multiply Group PJSC(1) | 159,900 | 100,156 | |
Network International Holdings PLC(1)(4) | 31,200 | 157,280 | |
Q Holding PJSC(1) | 107,300 | 90,862 | |
$ 4,459,600 | |||
Vietnam — 2.3% | |||
Bank for Foreign Trade of Vietnam JSC(1) | 144,967 | $ 512,412 | |
Bao Viet Holdings | 28,030 | 48,429 | |
FLC Faros Construction JSC(1)(3) | 2 | 0 | |
Gelex Group JSC(1) | 158,500 | 143,493 | |
Gemadept Corp. | 41,900 | 133,094 | |
Hoa Phat Group JSC(1) | 777,245 | 839,308 | |
Hoa Sen Group | 110,622 | 95,808 | |
KIDO Group Corp. | 33,828 | 78,130 | |
Kinh Bac City Development Holding Corp.(1) | 38,613 | 41,878 | |
Masan Group Corp.(1) | 103,896 | 305,514 | |
Novaland Investment Group Corp.(1) | 94,187 | 44,313 | |
PetroVietnam Drilling & Well Services JSC(1) | 109,672 | 120,395 | |
Petrovietnam Fertilizer & Chemicals JSC | 64,000 | 89,691 | |
PetroVietnam Gas JSC | 35,928 | 113,783 | |
PetroVietnam Power Corp.(1) | 169,700 | 90,455 | |
PetroVietnam Technical Services Corp. | 27,400 | 44,036 | |
Phat Dat Real Estate Development Corp.(1) | 34,632 | 26,138 | |
Phu Nhuan Jewelry JSC | 4 | 17 | |
Saigon Beer Alcohol Beverage Corp. | 29,220 | 64,153 | |
Thaiholdings JSC(1) | 48,620 | 67,945 | |
Vietjet Aviation JSC(1) | 109,066 | 458,120 | |
Vietnam Construction and Import-Export JSC(1) | 84,022 | 60,393 |
Security | Shares | Value | |
Vietnam (continued) | |||
Vietnam Dairy Products JSC | 92,092 | $ 261,206 | |
Vincom Retail JSC(1) | 132,380 | 97,687 | |
Vingroup JSC(1) | 156,347 | 262,228 | |
Vinh Hoan Corp. | 28,080 | 79,366 | |
Vinhomes JSC(1)(4) | 101,620 | 147,892 | |
$ 4,225,884 | |||
Total Common Stocks (identified cost $137,785,219) | $184,934,035 |
Rights — 0.0%(8) |
Security | Shares | Value | |
India — 0.0%(8) | |||
Tata Consumer Products Ltd., Exp. 8/19/24(1) | 284 | $ 1,263 | |
$ 1,263 | |||
Morocco — 0.0%(8) | |||
Bank of Africa, Exp. 10/7/24(1) | 48 | $ 16 | |
$ 16 | |||
Sri Lanka — 0.0%(8) | |||
Commercial Bank of Ceylon PLC, Exp. 8/9/24(1) | 55,942 | $ 1,387 | |
$ 1,387 | |||
Total Rights (identified cost $0) | $ 2,666 |
Short-Term Investments — 0.6% |
Affiliated Fund — 0.0%(8) |
Security | Shares | Value | |
Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 5.21%(9) | 14,031 | $ 14,031 | |
Total Affiliated Fund (identified cost $14,031) | $ 14,031 |
Securities Lending Collateral — 0.6% |
Security | Shares | Value | |
State Street Navigator Securities Lending Government Money Market Portfolio, 5.31%(10) | 1,008,010 | $ 1,008,010 | |
Total Securities Lending Collateral (identified cost $1,008,010) | $ 1,008,010 | ||
Total Short-Term Investments (identified cost $1,022,041) | $ 1,022,041 |
Total Investments — 100.5% (identified cost $138,807,260) | $185,958,742 | ||
Other Assets, Less Liabilities — (0.5)% | $ (866,158) | ||
Net Assets — 100.0% | $185,092,584 |
The percentage shown for each investment category in the Portfolio of Investments is based on net assets. | |
(1) | Non-income producing security. |
(2) | All or a portion of this security was on loan at July 31, 2024. The aggregate market value of securities on loan at July 31, 2024 was $5,529,544. |
(3) | For fair value measurement disclosure purposes, security is categorized as Level 3 (see Note 11). |
(4) | Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At July 31, 2024, the aggregate value of these securities is $5,034,049 or 2.7% of the Fund's net assets. |
(5) | Security exempt from registration under Regulation S of the Securities Act of 1933, as amended, which exempts from registration securities offered and sold outside the United States. Security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933, as amended. At July 31, 2024, the aggregate value of these securities is $1,087,425 or 0.6% of the Fund's net assets. |
(6) | Trading of securities has been sanctioned. |
(7) | Indicates a foreign registered security. Shares issued to foreign investors in markets that have foreign ownership limits. |
(8) | Amount is less than 0.05%. |
(9) | May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of July 31, 2024. |
(10) | Represents investment of cash collateral received in connection with securities lending. |
Sector Classification of Portfolio | ||
Sector | Percentage of Net Assets | Value |
Financials | 12.2% | $22,574,667 |
Industrials | 10.7 | 19,909,318 |
Information Technology | 10.2 | 18,911,561 |
Consumer Staples | 9.6 | 17,714,952 |
Consumer Discretionary | 9.5 | 17,672,091 |
Energy | 9.5 | 17,554,956 |
Communication Services | 9.1 | 16,802,372 |
Materials | 8.9 | 16,512,015 |
Health Care | 8.8 | 16,233,606 |
Utilities | 6.3 | 11,583,267 |
Real Estate | 5.1 | 9,467,896 |
Short-Term Investments | 0.6 | 1,022,041 |
Total Investments | 100.5% | $185,958,742 |
Abbreviations: | |
ADR | – American Depositary Receipt |
GDR | – Global Depositary Receipt |
PCL | – Public Company Limited |
PFC Shares | – Preference Shares |
July 31, 2024 | |
Assets | |
Unaffiliated investments, at value (identified cost $138,793,229) — including $5,529,544 of securities on loan | $185,944,711 |
Affiliated investments, at value (identified cost $14,031) | 14,031 |
Cash | 124 |
Foreign currency, at value (identified cost $890,957) | 890,819 |
Interest and dividends receivable | 563,994 |
Dividends receivable from affiliated investments | 58 |
Receivable for investments sold | 13,624 |
Receivable for Fund shares sold | 62,095 |
Securities lending income receivable | 8,142 |
Tax reclaims receivable | 87,798 |
Receivable from affiliates | 45,406 |
Trustees' deferred compensation plan | 196,925 |
Total assets | $187,827,727 |
Liabilities | |
Collateral for securities loaned | $1,008,010 |
Payable for Fund shares redeemed | 84,789 |
Payable to affiliates: | |
Investment adviser fee | 135,261 |
Administration fee | 23,870 |
Distribution and service fees | 4,850 |
Trustees' deferred compensation plan | 196,925 |
Accrued foreign capital gains taxes | 965,820 |
Payable for custodian fee | 147,050 |
Accrued expenses | 168,568 |
Total liabilities | $2,735,143 |
Net Assets | $185,092,584 |
Sources of Net Assets | |
Paid-in capital | $410,552,183 |
Accumulated loss | (225,459,599) |
Net Assets | $185,092,584 |
Class A Shares | |
Net Assets | $22,336,358 |
Shares Outstanding | 1,543,185 |
Net Asset Value and Redemption Price Per Share (net assets ÷ shares of beneficial interest outstanding) | $14.47 |
Maximum Offering Price Per Share (100 ÷ 94.75 of net asset value per share) | $15.27 |
Class C Shares | |
Net Assets | $84,290 |
Shares Outstanding | 5,887 |
Net Asset Value and Offering Price Per Share* (net assets ÷ shares of beneficial interest outstanding) | $14.32 |
Class I Shares | |
Net Assets | $159,119,218 |
Shares Outstanding | 10,989,175 |
Net Asset Value, Offering Price and Redemption Price Per Share (net assets ÷ shares of beneficial interest outstanding) | $14.48 |
July 31, 2024 | |
Class R6 Shares | |
Net Assets | $3,552,718 |
Shares Outstanding | 245,458 |
Net Asset Value, Offering Price and Redemption Price Per Share (net assets ÷ shares of beneficial interest outstanding) | $14.47 |
On sales of $50,000 or more, the offering price of Class A shares is reduced. | |
* | Redemption price per share is equal to the net asset value less any applicable contingent deferred sales charge. |
Six Months Ended | |
July 31, 2024 | |
Investment Income | |
Dividend income (net of foreign taxes withheld of $503,649) | $4,653,006 |
Dividend income from affiliated investments | 6,564 |
Securities lending income, net | 46,778 |
Total investment income | $4,706,348 |
Expenses | |
Investment adviser fee | $798,961 |
Administration fee | 140,993 |
Distribution and service fees: | |
Class A | 28,394 |
Class C | 513 |
Trustees’ fees and expenses | 6,051 |
Custodian fee | 165,557 |
Transfer and dividend disbursing agent fees | 85,546 |
Legal and accounting services | 97,404 |
Printing and postage | 16,643 |
Registration fees | 35,651 |
Miscellaneous | 7,561 |
Total expenses | $1,383,274 |
Deduct: | |
Waiver and/or reimbursement of expenses by affiliates | $183,456 |
Total expense reductions | $183,456 |
Net expenses | $1,199,818 |
Net investment income | $3,506,530 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss): | |
Investment transactions (net of foreign capital gains taxes of $253,916) | $1,833,912 |
Foreign currency transactions | (113,589) |
Net realized gain | $1,720,323 |
Change in unrealized appreciation (depreciation): | |
Investments (including net increase in accrued foreign capital gains taxes of $86,708) | $11,235,017 |
Foreign currency | 73,214 |
Net change in unrealized appreciation (depreciation) | $11,308,231 |
Net realized and unrealized gain | $13,028,554 |
Net increase in net assets from operations | $16,535,084 |
Six Months Ended July 31, 2024 (Unaudited) | Year Ended January 31, 2024 | |
Increase (Decrease) in Net Assets | ||
From operations: | ||
Net investment income | $3,506,530 | $4,522,878 |
Net realized gain | 1,720,323 | 3,301,308 |
Net change in unrealized appreciation (depreciation) | 11,308,231 | (6,384,101) |
Net increase in net assets from operations | $16,535,084 | $1,440,085 |
Distributions to shareholders: | ||
Class A | $— | $(615,132) |
Class C | — | (1,589) |
Class I | — | (4,770,597) |
Class R6 | — | (90,741) |
Total distributions to shareholders | $— | $(5,478,059) |
Transactions in shares of beneficial interest: | ||
Class A | $(1,808,711) | $(2,665,015) |
Class C | (42,086) | (95,457) |
Class I | (11,580,417) | (20,736,460) |
Class R6 | 305,659 | 1,347,517 |
Net decrease in net assets from Fund share transactions | $(13,125,555) | $(22,149,415) |
Net increase (decrease) in net assets | $3,409,529 | $(26,187,389) |
Net Assets | ||
At beginning of period | $181,683,055 | $207,870,444 |
At end of period | $185,092,584 | $181,683,055 |
Class A | ||||||
Six Months Ended July 31, 2024 (Unaudited) | Year Ended January 31, | |||||
2024 | 2023 | 2022 | 2021 | 2020 | ||
Net asset value — Beginning of period | $13.28 | $13.56 | $15.11 | $14.71 | $13.87 | $14.28 |
Income (Loss) From Operations | ||||||
Net investment income(1) | $0.25 | $0.28 | $0.34 | $0.25 | $0.21 | $0.33 |
Net realized and unrealized gain (loss) | 0.94 | (0.19) | (1.32) | 0.40 | 0.79(2) | (0.38) |
Total income (loss) from operations | $1.19 | $0.09 | $(0.98) | $0.65 | $1.00 | $(0.05) |
Less Distributions | ||||||
From net investment income | $— | $(0.37) | $(0.57) | $(0.25) | $(0.16) | $(0.36) |
Total distributions | $— | $(0.37) | $(0.57) | $(0.25) | $(0.16) | $(0.36) |
Net asset value — End of period | $14.47 | $13.28 | $13.56 | $15.11 | $14.71 | $13.87 |
Total Return(3) | 8.96%(4) | 0.60% | (6.32)% | 4.41% | 7.23% | (0.46)% |
Ratios/Supplemental Data | ||||||
Net assets, end of period (000's omitted) | $22,336 | $22,177 | $25,360 | $33,428 | $45,629 | $136,829 |
Ratios (as a percentage of average daily net assets):(5) | ||||||
Total expenses | 1.69%(6) | 1.68% | 1.65% | 1.58% | 1.55% | 1.45% |
Net expenses | 1.49%(6)(7) | 1.59%(7) | 1.65%(7) | 1.58% | 1.55% | 1.45% |
Net investment income | 3.50%(6) | 2.10% | 2.50% | 1.63% | 1.74% | 2.30% |
Portfolio Turnover | 2%(4) | 5% | 10% | 5% | 19% | 2% |
(1) | Computed using average shares outstanding. |
(2) | The per share amount is not in accord with the net realized and unrealized gain (loss) for the period because of the timing of Fund share transactions and the amount of the per share realized and unrealized gains and losses at such time. |
(3) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges, if applicable. |
(4) | Not annualized. |
(5) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(6) | Annualized. |
(7) | Includes a reduction by the investment adviser of a portion of its adviser fee due to the Fund's investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended July 31, 2024 and the years ended January 31, 2024 and 2023). |
Class C | ||||||
Six Months Ended July 31, 2024 (Unaudited) | Year Ended January 31, | |||||
2024 | 2023 | 2022 | 2021 | 2020 | ||
Net asset value — Beginning of period | $13.18 | $13.39 | $14.90 | $14.47 | $13.62 | $14.01 |
Income (Loss) From Operations | ||||||
Net investment income(1) | $0.18 | $0.21 | $0.23 | $0.13 | $0.12 | $0.22 |
Net realized and unrealized gain (loss) | 0.96 | (0.24) | (1.30) | 0.40 | 0.75(2) | (0.38) |
Total income (loss) from operations | $1.14 | $(0.03) | $(1.07) | $0.53 | $0.87 | $(0.16) |
Less Distributions | ||||||
From net investment income | $— | $(0.18) | $(0.44) | $(0.10) | $(0.02) | $(0.23) |
Total distributions | $— | $(0.18) | $(0.44) | $(0.10) | $(0.02) | $(0.23) |
Net asset value — End of period | $14.32 | $13.18 | $13.39 | $14.90 | $14.47 | $13.62 |
Total Return(3) | 8.65%(4) | (0.25)% | (6.93)% | 3.59% | 6.42% | (1.21)% |
Ratios/Supplemental Data | ||||||
Net assets, end of period (000’s omitted) | $84 | $116 | $219 | $339 | $592 | $4,094 |
Ratios (as a percentage of average daily net assets):(5) | ||||||
Total expenses | 2.44%(6) | 2.45% | 2.40% | 2.33% | 2.30% | 2.20% |
Net expenses | 2.24%(6)(7) | 2.36%(7) | 2.40%(7) | 2.33% | 2.30% | 2.20% |
Net investment income | 2.65%(6) | 1.57% | 1.75% | 0.85% | 0.96% | 1.59% |
Portfolio Turnover | 2%(4) | 5% | 10% | 5% | 19% | 2% |
(1) | Computed using average shares outstanding. |
(2) | The per share amount is not in accord with the net realized and unrealized gain (loss) for the period because of the timing of Fund share transactions and the amount of the per share realized and unrealized gains and losses at such time. |
(3) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested and do not reflect the effect of sales charges. |
(4) | Not annualized. |
(5) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(6) | Annualized. |
(7) | Includes a reduction by the investment adviser of a portion of its adviser fee due to the Fund's investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended July 31, 2024 and the years ended January 31, 2024 and 2023). |
Class I | ||||||
Six Months Ended July 31, 2024 (Unaudited) | Year Ended January 31, | |||||
2024 | 2023 | 2022 | 2021 | 2020 | ||
Net asset value — Beginning of period | $13.26 | $13.55 | $15.10 | $14.71 | $13.90 | $14.31 |
Income (Loss) From Operations | ||||||
Net investment income(1) | $0.26 | $0.32 | $0.38 | $0.30 | $0.21 | $0.37 |
Net realized and unrealized gain (loss) | 0.96 | (0.20) | (1.33) | 0.38 | 0.83(2) | (0.38) |
Total income (loss) from operations | $1.22 | $0.12 | $(0.95) | $0.68 | $1.04 | $(0.01) |
Less Distributions | ||||||
From net investment income | $— | $(0.41) | $(0.60) | $(0.29) | $(0.23) | $(0.40) |
Total distributions | $— | $(0.41) | $(0.60) | $(0.29) | $(0.23) | $(0.40) |
Net asset value — End of period | $14.48 | $13.26 | $13.55 | $15.10 | $14.71 | $13.90 |
Total Return(3) | 9.20%(4) | 0.78% | (6.07)% | 4.64% | 7.50% | (0.20)% |
Ratios/Supplemental Data | ||||||
Net assets, end of period (000’s omitted) | $159,119 | $156,416 | $180,624 | $265,967 | $383,984 | $868,666 |
Ratios (as a percentage of average daily net assets):(5) | ||||||
Total expenses | 1.44%(6) | 1.43% | 1.40% | 1.33% | 1.30% | 1.20% |
Net expenses | 1.24%(6)(7) | 1.34%(7) | 1.40%(7) | 1.33% | 1.30% | 1.20% |
Net investment income | 3.76%(6) | 2.37% | 2.79% | 1.91% | 1.68% | 2.59% |
Portfolio Turnover | 2%(4) | 5% | 10% | 5% | 19% | 2% |
(1) | Computed using average shares outstanding. |
(2) | The per share amount is not in accord with the net realized and unrealized gain (loss) for the period because of the timing of Fund share transactions and the amount of the per share realized and unrealized gains and losses at such time. |
(3) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested. |
(4) | Not annualized. |
(5) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(6) | Annualized. |
(7) | Includes a reduction by the investment adviser of a portion of its adviser fee due to the Fund's investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended July 31, 2024 and the years ended January 31, 2024 and 2023). |
Class R6 | ||||||
Six Months Ended July 31, 2024 (Unaudited) | Year Ended January 31, | |||||
2024 | 2023 | 2022 | 2021 | 2020 | ||
Net asset value — Beginning of period | $13.25 | $13.54 | $15.09 | $14.69 | $13.89 | $14.30 |
Income (Loss) From Operations | ||||||
Net investment income(1) | $0.27 | $0.33 | $0.37 | $0.22 | $0.23 | $0.38 |
Net realized and unrealized gain (loss) | 0.95 | (0.20) | (1.31) | 0.49 | 0.81(2) | (0.38) |
Total income (loss) from operations | $1.22 | $0.13 | $(0.94) | $0.71 | $1.04 | $— |
Less Distributions | ||||||
From net investment income | $— | $(0.42) | $(0.61) | $(0.31) | $(0.24) | $(0.41) |
Total distributions | $— | $(0.42) | $(0.61) | $(0.31) | $(0.24) | $(0.41) |
Net asset value — End of period | $14.47 | $13.25 | $13.54 | $15.09 | $14.69 | $13.89 |
Total Return(3) | 9.21%(4) | 0.86% | (5.99)% | 4.82% | 7.45% | (0.13)% |
Ratios/Supplemental Data | ||||||
Net assets, end of period (000’s omitted) | $3,553 | $2,973 | $1,668 | $1,786 | $83,963 | $54,504 |
Ratios (as a percentage of average daily net assets):(5) | ||||||
Total expenses | 1.37%(6) | 1.35% | 1.33% | 1.24% | 1.21% | 1.14% |
Net expenses | 1.17%(6)(7) | 1.26%(7) | 1.33%(7) | 1.24% | 1.21% | 1.14% |
Net investment income | 3.86%(6) | 2.47% | 2.76% | 1.42% | 1.83% | 2.67% |
Portfolio Turnover | 2%(4) | 5% | 10% | 5% | 19% | 2% |
(1) | Computed using average shares outstanding. |
(2) | The per share amount is not in accord with the net realized and unrealized gain (loss) for the period because of the timing of Fund share transactions and the amount of the per share realized and unrealized gains and losses at such time. |
(3) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested. |
(4) | Not annualized. |
(5) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(6) | Annualized. |
(7) | Includes a reduction by the investment adviser of a portion of its adviser fee due to the Fund's investment in the Liquidity Fund (equal to less than 0.005% of average daily net assets for the six months ended July 31, 2024 and the years ended January 31, 2024 and 2023). |
Aggregate cost | $147,742,792 |
Gross unrealized appreciation | $71,569,766 |
Gross unrealized depreciation | (33,353,816) |
Net unrealized appreciation | $38,215,950 |
Average Daily Net Assets | Annual Fee Rate |
Up to $500 million | 0.850% |
$500 million but less than $1 billion | 0.800% |
$1 billion but less than $2.5 billion | 0.775% |
$2.5 billion but less than $5 billion | 0.750% |
$5 billion but less than $7.5 billion | 0.730% |
$7.5 billion and over | 0.710% |
Six Months Ended July 31, 2024 (Unaudited) | Year Ended January 31, 2024 | ||||
Shares | Amount | Shares | Amount | ||
Class A | |||||
Sales | 78,395 | $ 1,097,517 | 99,066 | $ 1,326,604 | |
Issued to shareholders electing to receive payments of distributions in Fund shares | — | — | 43,465 | 593,297 | |
Redemptions | (205,753) | (2,906,228) | (341,824) | (4,584,916) | |
Net decrease | (127,358) | $(1,808,711) | (199,293) | $(2,665,015) | |
Class C | |||||
Issued to shareholders electing to receive payments of distributions in Fund shares | — | $ — | 117 | $ 1,589 | |
Redemptions | (2,929) | (42,086) | (7,650) | (97,046) | |
Net decrease | (2,929) | $ (42,086) | (7,533) | $ (95,457) |
Six Months Ended July 31, 2024 (Unaudited) | Year Ended January 31, 2024 | ||||
Shares | Amount | Shares | Amount | ||
Class I | |||||
Sales | 525,020 | $ 7,387,080 | 1,095,475 | $14,638,234 | |
Issued to shareholders electing to receive payments of distributions in Fund shares | — | — | 202,593 | 2,761,341 | |
Redemptions | (1,328,280) | (18,967,497) | (2,833,889) | (38,136,035) | |
Net decrease | (803,260) | $(11,580,417) | (1,535,821) | $(20,736,460) | |
Class R6 | |||||
Sales | 39,235 | $ 557,006 | 147,141 | $ 1,961,956 | |
Issued to shareholders electing to receive payments of distributions in Fund shares | — | — | 5,295 | 72,116 | |
Redemptions | (18,083) | (251,347) | (51,287) | (686,555) | |
Net increase | 21,152 | $ 305,659 | 101,149 | $ 1,347,517 |
Remaining Contractual Maturity of the Transactions | |||||
Overnight and Continuous | <30 days | 30 to 90 days | >90 days | Total | |
Common Stocks | $1,008,010 | $ — | $ — | $ — | $1,008,010 |
Name | Value, beginning of period | Purchases | Sales proceeds | Net realized gain (loss) | Change in unrealized appreciation (depreciation) | Value, end of period | Dividend income | Shares, end of period |
Short-Term Investments | ||||||||
Liquidity Fund | $6,567 | $5,767,727 | $(5,760,263) | $ — | $ — | $14,031 | $6,564 | 14,031 |
• | Level 1 – quoted prices in active markets for identical investments |
• | Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) |
• | Level 3 – significant unobservable inputs (including a fund's own assumptions in determining the fair value of investments) |
Asset Description | Level 1 | Level 2 | Level 3* | Total |
Common Stocks: | ||||
Africa | $ — | $ 17,102,405 | $ — | $ 17,102,405 |
Asia | 3,794,137 | 91,777,258 | 59,676 | 95,631,071 |
Developed Europe | 136,890 | 1,039,187 | — | 1,176,077 |
Emerging Europe | 88,612 | 24,486,723 | 0 | 24,575,335 |
Latin America | 25,987,473 | — | 112,242 | 26,099,715 |
Middle East | 170,869 | 20,178,563 | — | 20,349,432 |
Total Common Stocks | $30,177,981 | $154,584,136** | $171,918 | $184,934,035 |
Asset Description (continued) | Level 1 | Level 2 | Level 3* | Total |
Rights | $ 1,403 | $ 1,263 | $ — | $ 2,666 |
Short-Term Investments: | ||||
Affiliated Fund | 14,031 | — | — | 14,031 |
Securities Lending Collateral | 1,008,010 | — | — | 1,008,010 |
Total Investments | $31,201,425 | $ 154,585,399 | $171,918 | $185,958,742 |
* | None of the unobservable inputs for Level 3 assets, individually or collectively, had a material impact on the Fund. |
** | Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets. |
Defensive Fund
Common Stocks — 49.7% |
Security | Shares | Value | |
Aerospace & Defense — 0.9% | |||
Boeing Co.(1) | 13,088 | $ 2,494,573 | |
Huntington Ingalls Industries, Inc. | 4,961 | 1,388,981 | |
L3Harris Technologies, Inc. | 7,700 | 1,747,053 | |
RTX Corp. | 27,037 | 3,176,577 | |
$ 8,807,184 | |||
Air Freight & Logistics — 0.1% | |||
Expeditors International of Washington, Inc. | 6,721 | $ 838,915 | |
$ 838,915 | |||
Automobile Components — 0.0%(2) | |||
Phinia, Inc. | 2,206 | $ 98,608 | |
$ 98,608 | |||
Automobiles — 0.8% | |||
Tesla, Inc.(1) | 36,971 | $ 8,579,860 | |
$ 8,579,860 | |||
Banks — 1.8% | |||
Bank of America Corp. | 104,463 | $ 4,210,903 | |
Fifth Third Bancorp | 30,206 | 1,278,922 | |
Huntington Bancshares, Inc. | 106,477 | 1,591,831 | |
JPMorgan Chase & Co. | 37,345 | 7,947,016 | |
Regions Financial Corp. | 61,283 | 1,370,901 | |
Wells Fargo & Co. | 39,747 | 2,358,587 | |
$ 18,758,160 | |||
Beverages — 0.7% | |||
Coca-Cola Co. | 57,087 | $ 3,809,986 | |
PepsiCo, Inc. | 22,217 | 3,836,210 | |
$ 7,646,196 | |||
Biotechnology — 0.7% | |||
AbbVie, Inc. | 25,007 | $ 4,634,297 | |
Amgen, Inc. | 8,146 | 2,708,301 | |
$ 7,342,598 | |||
Broadline Retail — 1.9% | |||
Amazon.com, Inc.(1) | 98,891 | $ 18,490,639 | |
Kohl's Corp. | 17,271 | 374,090 | |
$ 18,864,729 |
Security | Shares | Value | |
Building Products — 0.3% | |||
A.O. Smith Corp. | 16,850 | $ 1,432,924 | |
Carrier Global Corp. | 20,581 | 1,401,772 | |
�� | $ 2,834,696 | ||
Capital Markets — 1.2% | |||
Ameriprise Financial, Inc. | 4,371 | $ 1,879,836 | |
Cboe Global Markets, Inc. | 7,976 | 1,463,676 | |
CME Group, Inc. | 2,074 | 401,755 | |
Franklin Resources, Inc. | 42,512 | 972,249 | |
Invesco Ltd. | 84,753 | 1,462,837 | |
Nasdaq, Inc. | 24,914 | 1,686,180 | |
S&P Global, Inc. | 5,870 | 2,845,365 | |
State Street Corp. | 17,118 | 1,454,516 | |
$ 12,166,414 | |||
Chemicals — 0.7% | |||
Albemarle Corp.(3) | 3,328 | $ 311,734 | |
CF Industries Holdings, Inc. | 10,887 | 831,658 | |
Linde PLC | 8,502 | 3,855,657 | |
Sherwin-Williams Co. | 6,320 | 2,217,056 | |
$ 7,216,105 | |||
Commercial Services & Supplies — 0.2% | |||
Republic Services, Inc. | 9,020 | $ 1,752,766 | |
$ 1,752,766 | |||
Communications Equipment — 0.4% | |||
Cisco Systems, Inc. | 69,713 | $ 3,377,595 | |
F5, Inc.(1) | 4,136 | 842,255 | |
$ 4,219,850 | |||
Construction & Engineering — 0.2% | |||
Quanta Services, Inc. | 6,781 | $ 1,799,542 | |
$ 1,799,542 | |||
Consumer Finance — 0.3% | |||
Discover Financial Services | 12,725 | $ 1,832,273 | |
Synchrony Financial | 32,515 | 1,651,437 | |
$ 3,483,710 | |||
Consumer Staples Distribution & Retail — 1.0% | |||
Costco Wholesale Corp. | 6,395 | $ 5,256,690 | |
Kroger Co. | 23,840 | 1,299,280 |
Security | Shares | Value | |
Consumer Staples Distribution & Retail (continued) | |||
Walgreens Boots Alliance, Inc.(3) | 23,076 | $ 273,912 | |
Walmart, Inc. | 53,754 | 3,689,675 | |
$ 10,519,557 | |||
Containers & Packaging — 0.3% | |||
Avery Dennison Corp. | 5,624 | $ 1,219,452 | |
Packaging Corp. of America | 5,963 | 1,191,825 | |
Sealed Air Corp. | 14,482 | 551,040 | |
$ 2,962,317 | |||
Distributors — 0.1% | |||
LKQ Corp. | 19,666 | $ 816,139 | |
$ 816,139 | |||
Diversified Telecommunication Services — 0.3% | |||
Verizon Communications, Inc. | 78,828 | $ 3,194,111 | |
$ 3,194,111 | |||
Electric Utilities — 0.8% | |||
Alliant Energy Corp. | 25,795 | $ 1,435,750 | |
Entergy Corp. | 12,918 | 1,498,100 | |
Evergy, Inc. | 23,682 | 1,373,556 | |
NextEra Energy, Inc. | 28,871 | 2,205,456 | |
NRG Energy, Inc. | 18,972 | 1,426,125 | |
Pinnacle West Capital Corp.(3) | 8,220 | 703,550 | |
$ 8,642,537 | |||
Electrical Equipment — 0.3% | |||
Eaton Corp. PLC | 10,470 | $ 3,191,151 | |
Generac Holdings, Inc.(1) | 1,614 | 251,268 | |
$ 3,442,419 | |||
Electronic Equipment, Instruments & Components — 0.2% | |||
TE Connectivity Ltd. | 11,757 | $ 1,814,458 | |
$ 1,814,458 | |||
Entertainment — 0.6% | |||
Netflix, Inc.(1) | 5,544 | $ 3,483,572 | |
Take-Two Interactive Software, Inc.(1) | 801 | 120,574 | |
Walt Disney Co. | 26,995 | 2,529,162 | |
$ 6,133,308 | |||
Financial Services — 2.2% | |||
Berkshire Hathaway, Inc., Class B(1) | 22,369 | $ 9,808,806 | |
Corpay, Inc.(1) | 5,211 | 1,520,674 |
Security | Shares | Value | |
Financial Services (continued) | |||
Mastercard, Inc., Class A | 11,834 | $ 5,487,544 | |
Visa, Inc., Class A | 22,737 | 6,040,539 | |
$ 22,857,563 | |||
Food Products — 0.3% | |||
Campbell Soup Co. | 16,535 | $ 774,830 | |
Conagra Brands, Inc. | 36,334 | 1,101,647 | |
McCormick & Co., Inc., Non Voting Shares | 10,130 | 780,111 | |
$ 2,656,588 | |||
Ground Transportation — 0.4% | |||
J.B. Hunt Transport Services, Inc. | 8,175 | $ 1,415,501 | |
Union Pacific Corp. | 10,615 | 2,619,039 | |
$ 4,034,540 | |||
Health Care Equipment & Supplies — 1.3% | |||
Abbott Laboratories | 21,873 | $ 2,317,226 | |
Boston Scientific Corp.(1) | 32,535 | 2,403,686 | |
Cooper Cos., Inc.(1) | 12,104 | 1,129,666 | |
IDEXX Laboratories, Inc.(1) | 3,057 | 1,455,499 | |
Insulet Corp.(1) | 7,139 | 1,387,465 | |
Intuitive Surgical, Inc.(1) | 7,071 | 3,143,837 | |
Medtronic PLC | 21,995 | 1,766,638 | |
$ 13,604,017 | |||
Health Care Providers & Services — 1.3% | |||
Cencora, Inc. | 7,142 | $ 1,698,939 | |
DaVita, Inc.(1) | 9,302 | 1,270,839 | |
Molina Healthcare, Inc.(1) | 3,627 | 1,237,786 | |
Quest Diagnostics, Inc. | 10,183 | 1,449,041 | |
UnitedHealth Group, Inc. | 12,546 | 7,228,504 | |
$ 12,885,109 | |||
Health Care REITs — 0.1% | |||
Alexandria Real Estate Equities, Inc. | 8,953 | $ 1,050,097 | |
$ 1,050,097 | |||
Hotels, Restaurants & Leisure — 0.9% | |||
Carnival Corp.(1) | 59,470 | $ 990,770 | |
Expedia Group, Inc.(1) | 11,592 | 1,479,951 | |
McDonald's Corp. | 12,307 | 3,266,278 | |
Starbucks Corp. | 27,829 | 2,169,270 | |
Wynn Resorts Ltd. | 12,682 | 1,050,323 | |
$ 8,956,592 |
Security | Shares | Value | |
Household Durables — 0.2% | |||
Lennar Corp., Class A | 13,510 | $ 2,390,324 | |
$ 2,390,324 | |||
Household Products — 0.5% | |||
Procter & Gamble Co. | 32,152 | $ 5,168,756 | |
$ 5,168,756 | |||
Independent Power and Renewable Electricity Producers — 0.1% | |||
Vistra Corp. | 11,147 | $ 883,065 | |
$ 883,065 | |||
Industrial Conglomerates — 0.3% | |||
Honeywell International, Inc. | 13,016 | $ 2,665,026 | |
$ 2,665,026 | |||
Insurance — 0.8% | |||
Arthur J. Gallagher & Co. | 7,052 | $ 1,999,171 | |
Assurant, Inc. | 6,011 | 1,051,144 | |
Everest Group Ltd. | 2,219 | 871,778 | |
Progressive Corp. | 13,267 | 2,840,730 | |
Unum Group | 26,445 | 1,521,381 | |
$ 8,284,204 | |||
Interactive Media & Services — 3.3% | |||
Alphabet, Inc., Class A | 69,586 | $ 11,936,782 | |
Alphabet, Inc., Class C | 55,972 | 9,691,552 | |
Meta Platforms, Inc., Class A | 25,962 | 12,327,537 | |
$ 33,955,871 | |||
IT Services — 0.4% | |||
Accenture PLC, Class A | 10,953 | $ 3,621,281 | |
VeriSign, Inc.(1) | 539 | 100,798 | |
$ 3,722,079 | |||
Life Sciences Tools & Services — 0.9% | |||
Danaher Corp. | 9,993 | $ 2,768,860 | |
IQVIA Holdings, Inc.(1) | 6,039 | 1,486,983 | |
Thermo Fisher Scientific, Inc. | 6,003 | 3,681,880 | |
Waters Corp.(1) | 3,206 | 1,078,114 | |
$ 9,015,837 | |||
Machinery — 0.6% | |||
Flowserve Corp. | 2,794 | $ 141,237 | |
PACCAR, Inc. | 20,719 | 2,044,136 | |
Pentair PLC | 17,848 | 1,568,304 |
Security | Shares | Value | |
Machinery (continued) | |||
Stanley Black & Decker, Inc. | 9,610 | $ 1,015,008 | |
Westinghouse Air Brake Technologies Corp. | 10,792 | 1,739,131 | |
$ 6,507,816 | |||
Media — 0.3% | |||
Comcast Corp., Class A | 39,558 | $ 1,632,558 | |
Omnicom Group, Inc. | 14,100 | 1,382,364 | |
Paramount Global, Class B | 22,916 | 261,701 | |
$ 3,276,623 | |||
Metals & Mining — 0.2% | |||
Freeport-McMoRan, Inc. | 43,625 | $ 1,981,011 | |
$ 1,981,011 | |||
Multi-Utilities — 0.3% | |||
CMS Energy Corp. | 22,648 | $ 1,467,590 | |
WEC Energy Group, Inc. | 16,366 | 1,408,458 | |
$ 2,876,048 | |||
Oil, Gas & Consumable Fuels — 1.8% | |||
APA Corp. | 26,833 | $ 836,921 | |
Chevron Corp. | 18,570 | 2,979,928 | |
Devon Energy Corp. | 19,416 | 913,134 | |
EOG Resources, Inc. | 13,580 | 1,721,944 | |
Exxon Mobil Corp. | 57,013 | 6,761,172 | |
HF Sinclair Corp. | 23,402 | 1,204,501 | |
Kinder Morgan, Inc. | 53,031 | 1,120,545 | |
Marathon Oil Corp. | 53,376 | 1,497,197 | |
ONEOK, Inc. | 21,880 | 1,823,260 | |
$ 18,858,602 | |||
Passenger Airlines — 0.1% | |||
Alaska Air Group, Inc.(1) | 18,761 | $ 704,100 | |
$ 704,100 | |||
Pharmaceuticals — 1.8% | |||
Bristol-Myers Squibb Co. | 5,907 | $ 280,937 | |
Eli Lilly & Co. | 11,288 | 9,078,600 | |
Johnson & Johnson | 27,902 | 4,404,331 | |
Merck & Co., Inc. | 37,349 | 4,225,292 | |
$ 17,989,160 | |||
Professional Services — 0.6% | |||
Jacobs Solutions, Inc. | 8,461 | $ 1,238,267 | |
Paycom Software, Inc. | 8,921 | 1,487,934 |
Security | Shares | Value | |
Professional Services (continued) | |||
Robert Half, Inc. | 20,841 | $ 1,337,784 | |
Verisk Analytics, Inc. | 6,550 | 1,714,462 | |
$ 5,778,447 | |||
Residential REITs — 0.4% | |||
Equity Residential | 22,413 | $ 1,560,617 | |
Mid-America Apartment Communities, Inc. | 9,213 | 1,287,701 | |
UDR, Inc. | 34,674 | 1,389,387 | |
$ 4,237,705 | |||
Retail REITs — 0.1% | |||
Kimco Realty Corp. | 57,235 | $ 1,243,717 | |
$ 1,243,717 | |||
Semiconductors & Semiconductor Equipment — 5.9% | |||
Advanced Micro Devices, Inc.(1) | 23,972 | $ 3,463,475 | |
Broadcom, Inc. | 62,590 | 10,056,961 | |
Intel Corp. | 50,444 | 1,550,649 | |
KLA Corp. | 4,203 | 3,459,363 | |
NVIDIA Corp. | 277,824 | 32,510,964 | |
Qorvo, Inc.(1) | 7,607 | 911,319 | |
QUALCOMM, Inc. | 18,464 | 3,341,061 | |
Teradyne, Inc. | 10,163 | 1,332,979 | |
Texas Instruments, Inc. | 15,104 | 3,078,346 | |
$ 59,705,117 | |||
Software — 5.0% | |||
Adobe, Inc.(1) | 7,262 | $ 4,006,082 | |
Crowdstrike Holdings, Inc., Class A(1) | 3,368 | 781,241 | |
Intuit, Inc. | 5,019 | 3,249,050 | |
Microsoft Corp. | 83,642 | 34,991,631 | |
Oracle Corp. | 26,924 | 3,754,552 | |
Salesforce, Inc. | 15,785 | 4,085,158 | |
$ 50,867,714 | |||
Specialized REITs — 0.5% | |||
Extra Space Storage, Inc. | 8,076 | $ 1,289,091 | |
Iron Mountain, Inc. | 5,457 | 559,670 | |
Public Storage | 4,800 | 1,420,416 | |
SBA Communications Corp. | 7,714 | 1,693,532 | |
$ 4,962,709 | |||
Specialty Retail — 0.9% | |||
Bath & Body Works, Inc. | 20,278 | $ 745,216 | |
CarMax, Inc.(1) | 10,194 | 860,781 | |
Home Depot, Inc. | 13,487 | 4,965,374 |
Security | Shares | Value | |
Specialty Retail (continued) | |||
Lowe's Cos., Inc. | 9,801 | $ 2,406,244 | |
Ross Stores, Inc. | 2,693 | 385,718 | |
Victoria's Secret & Co.(1) | 7,225 | 128,244 | |
$ 9,491,577 | |||
Technology Hardware, Storage & Peripherals — 3.7% | |||
Apple, Inc. | 162,671 | $ 36,125,976 | |
Seagate Technology Holdings PLC | 14,336 | 1,464,709 | |
$ 37,590,685 | |||
Textiles, Apparel & Luxury Goods — 0.2% | |||
NIKE, Inc., Class B | 18,161 | $ 1,359,532 | |
Ralph Lauren Corp., Class A | 3,952 | 693,932 | |
Under Armour, Inc., Class C(1) | 11,043 | 74,982 | |
$ 2,128,446 | |||
Tobacco — 0.3% | |||
Philip Morris International, Inc. | 26,735 | $ 3,078,803 | |
$ 3,078,803 | |||
Trading Companies & Distributors — 0.2% | |||
W.W. Grainger, Inc. | 1,871 | $ 1,827,611 | |
$ 1,827,611 | |||
Total Common Stocks (identified cost $223,243,051) | $ 507,169,738 |
Short-Term Investments — 51.3% |
Affiliated Fund — 3.1% |
Security | Shares | Value | |
Morgan Stanley Institutional Liquidity Funds - Government Portfolio, Institutional Class, 5.21%(4) | 31,959,141 | $ 31,959,141 | |
Total Affiliated Fund (identified cost $31,959,141) | $ 31,959,141 |
Securities Lending Collateral — 1.2% |
Security | Shares | Value | |
State Street Navigator Securities Lending Government Money Market Portfolio, 5.31%(5) | 11,907,693 | $ 11,907,693 | |
Total Securities Lending Collateral (identified cost $11,907,693) | $ 11,907,693 |
U.S. Treasury Obligations — 47.0% |
Security | Principal Amount (000's omitted) | Value | |
U.S. Treasury Bills: | |||
0.00%, 8/1/24 | $ | 15,160 | $ 15,160,000 |
0.00%, 8/8/24 | 55,624 | 55,567,153 | |
0.00%, 9/5/24 | 16,679 | 16,593,513 | |
0.00%, 10/3/24 | 4,500 | 4,459,249 | |
0.00%, 10/31/24(6) | 28,529 | 28,159,321 | |
0.00%, 11/29/24(6) | 25,670 | 25,237,252 | |
0.00%, 12/26/24(3) | 27,369 | 26,821,624 | |
0.00%, 1/23/25 | 18,132 | 17,700,047 | |
0.00%, 2/20/25(3)(6) | 21,080 | 20,507,810 | |
0.00%, 3/20/25(6) | 21,687 | 21,037,247 | |
0.00%, 4/17/25 | 17,707 | 17,113,385 | |
0.00%, 5/15/25(6) | 17,707 | 17,054,587 | |
0.00%, 6/12/25 | 7,860 | 7,544,495 | |
U.S. Treasury Bonds, 7.625%, 2/15/25 | 9,847 | 9,997,923 | |
U.S. Treasury Notes: | |||
0.375%, 8/15/24 | 6,250 | 6,237,934 | |
0.375%, 9/15/24 | 7,449 | 7,403,348 | |
0.375%, 4/30/25(6) | 9,847 | 9,522,282 | |
0.625%, 10/15/24 | 11,949 | 11,836,179 | |
1.125%, 1/15/25(3) | 2,365 | 2,323,205 | |
1.25%, 8/31/24 | 18,199 | 18,133,434 | |
1.375%, 1/31/25(3) | 2,365 | 2,322,469 | |
1.50%, 2/15/25 | 9,847 | 9,661,876 | |
1.75%, 3/15/25(3)(6) | 15,767 | 15,462,013 | |
2.75%, 5/15/25(6) | 33,427 | 32,879,804 | |
2.75%, 6/30/25 | 50,000 | 49,107,482 | |
3.875%, 3/31/25 | 5,920 | 5,879,033 |
Security | Principal Amount (000's omitted) | Value | |
U.S. Treasury Notes: (continued) | |||
4.625%, 6/30/25 | $ | 25,000 | $ 24,967,638 |
Total U.S. Treasury Obligations (identified cost $478,451,934) | $ 478,690,303 | ||
Total Short-Term Investments (identified cost $522,318,768) | $ 522,557,137 | ||
Total Investments — 101.0% (identified cost $745,561,819) | $1,029,726,875 | ||
Total Written Options — (0.2)% (premiums received $3,029,073) | $ (2,524,393) | ||
Other Assets, Less Liabilities — (0.8)% | $ (7,451,119) | ||
Net Assets — 100.0% | $1,019,751,363 |
The percentage shown for each investment category in the Portfolio of Investments is based on net assets. | |
(1) | Non-income producing security. |
(2) | Amount is less than 0.05%. |
(3) | All or a portion of this security was on loan at July 31, 2024. The aggregate market value of securities on loan at July 31, 2024 was $47,039,714. |
(4) | May be deemed to be an affiliated investment company. The rate shown is the annualized seven-day yield as of July 31, 2024. |
(5) | Represents investment of cash collateral received in connection with securities lending. |
(6) | Security (or a portion thereof) has been pledged as collateral for written options. |
Written Call Options (Exchange-Traded) — (0.1)% | |||||||
Description | Number of Contracts | Notional Amount | Exercise Price | Expiration Date | Value | ||
S&P 500 Index | 76 | $ | 41,969,480 | $ | 5,580 | 8/2/24 | $ (96,900) |
S&P 500 Index | 76 | 41,969,480 | 5,700 | 8/2/24 | (1,330) | ||
S&P 500 Index | 76 | 41,969,480 | 5,580 | 8/5/24 | (130,720) | ||
S&P 500 Index | 75 | 41,417,250 | 5,680 | 8/5/24 | (5,438) | ||
S&P 500 Index | 76 | 41,969,480 | 5,625 | 8/7/24 | (85,880) | ||
S&P 500 Index | 76 | 41,969,480 | 5,600 | 8/9/24 | (174,040) | ||
S&P 500 Index | 76 | 41,969,480 | 5,670 | 8/14/24 | (99,560) | ||
S&P 500 Index | 76 | 41,969,480 | 5,685 | 8/16/24 | (93,860) | ||
S&P 500 Index | 76 | 41,969,480 | 5,620 | 8/21/24 | (266,380) | ||
S&P 500 Index | 76 | 41,969,480 | 5,675 | 8/26/24 | (183,160) | ||
Total | $(1,137,268) |
Written Put Options (Exchange-Traded) — (0.1)% | |||||||
Description | Number of Contracts | Notional Amount | Exercise Price | Expiration Date | Value | ||
S&P 500 Index | 72 | $39,760,560 | $5,415 | 8/2/24 | $ (38,880) | ||
S&P 500 Index | 76 | 41,969,480 | 5,360 | 8/5/24 | (25,460) | ||
S&P 500 Index | 75 | 41,417,250 | 5,440 | 8/5/24 | (98,625) | ||
S&P 500 Index | 76 | 41,969,480 | 5,400 | 8/7/24 | (76,380) | ||
S&P 500 Index | 72 | 39,760,560 | 5,480 | 8/7/24 | (208,800) | ||
S&P 500 Index | 76 | 41,969,480 | 5,320 | 8/9/24 | (51,680) | ||
S&P 500 Index | 76 | 41,969,480 | 5,510 | 8/12/24 | (360,240) | ||
S&P 500 Index | 76 | 41,969,480 | 5,400 | 8/14/24 | (167,960) | ||
S&P 500 Index | 76 | 41,969,480 | 5,315 | 8/16/24 | (112,480) | ||
S&P 500 Index | 76 | 41,969,480 | 5,250 | 8/21/24 | (95,000) | ||
S&P 500 Index | 76 | 41,969,480 | 5,290 | 8/26/24 | (151,620) | ||
Total | $(1,387,125) |
Abbreviations: | |
REITs | – Real Estate Investment Trusts |
July 31, 2024 | |
Assets | |
Unaffiliated investments, at value (identified cost $713,602,678) — including $47,039,714 of securities on loan | $997,767,734 |
Affiliated investments, at value (identified cost $31,959,141) | 31,959,141 |
Interest and dividends receivable | 1,422,253 |
Dividends receivable from affiliated investments | 162,742 |
Receivable for premiums on written options | 461,360 |
Receivable for Fund shares sold | 3,521,184 |
Securities lending income receivable | 23,702 |
Trustees' deferred compensation plan | 37,219 |
Total assets | $1,035,355,335 |
Liabilities | |
Collateral for securities loaned | $11,907,693 |
Written options outstanding, at value (premiums received $3,029,073) | 2,524,393 |
Payable for closed written options | 44,779 |
Payable for Fund shares redeemed | 562,748 |
Payable to affiliates: | |
Investment adviser and administration fee | 336,882 |
Trustees' deferred compensation plan | 37,219 |
Accrued expenses | 190,258 |
Total liabilities | $15,603,972 |
Net Assets | $1,019,751,363 |
Sources of Net Assets | |
Paid-in capital | $714,938,616 |
Distributable earnings | 304,812,747 |
Net Assets | $1,019,751,363 |
Class I Shares | |
Net Assets | $1,019,751,363 |
Shares Outstanding | 67,808,089 |
Net Asset Value, Offering Price and Redemption Price Per Share (net assets ÷ shares of beneficial interest outstanding) | $15.04 |
Six Months Ended | |
July 31, 2024 | |
Investment Income | |
Dividend income | $3,220,357 |
Dividend income from affiliated investments | 980,659 |
Interest income | 10,663,029 |
Securities lending income, net | 115,611 |
Total investment income | $14,979,656 |
Expenses | |
Investment adviser and administration fee | $1,829,688 |
Trustees’ fees and expenses | 30,548 |
Custodian fee | 123,637 |
Transfer and dividend disbursing agent fees | 120,177 |
Legal and accounting services | 54,184 |
Printing and postage | 4,099 |
Registration fees | 19,546 |
Miscellaneous | 25,312 |
Total expenses | $2,207,191 |
Deduct: | |
Waiver and/or reimbursement of expenses by affiliates | $27,385 |
Total expense reductions | $27,385 |
Net expenses | $2,179,806 |
Net investment income | $12,799,850 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss): | |
Investment transactions | $6,292,882 |
Written options | 5,283,227 |
Net realized gain | $11,576,109 |
Change in unrealized appreciation (depreciation): | |
Investments | $55,460,197 |
Written options | 161,473 |
Net change in unrealized appreciation (depreciation) | $55,621,670 |
Net realized and unrealized gain | $67,197,779 |
Net increase in net assets from operations | $79,997,629 |
Six Months Ended July 31, 2024 (Unaudited) | Year Ended January 31, 2024 | |
Increase (Decrease) in Net Assets | ||
From operations: | ||
Net investment income | $12,799,850 | $21,079,245 |
Net realized gain | 11,576,109 | 10,583,215 |
Net change in unrealized appreciation (depreciation) | 55,621,670 | 70,592,307 |
Net increase in net assets from operations | $79,997,629 | $102,254,767 |
Distributions to shareholders: | ||
Class I | $— | $(40,536,309) |
Total distributions to shareholders | $— | $(40,536,309) |
Transactions in shares of beneficial interest: | ||
Class I | $95,879,863 | $68,655,764 |
Net increase in net assets from Fund share transactions | $95,879,863 | $68,655,764 |
Net increase in net assets | $175,877,492 | $130,374,222 |
Net Assets | ||
At beginning of period | $843,873,871 | $713,499,649 |
At end of period | $1,019,751,363 | $843,873,871 |
Class I | ||||||
Six Months Ended July 31, 2024 (Unaudited) | Year Ended January 31, | |||||
2024 | 2023 | 2022 | 2021 | 2020 | ||
Net asset value — Beginning of period | $13.77 | $12.67 | $14.00 | $12.41 | $11.94 | $10.83 |
Income (Loss) From Operations | ||||||
Net investment income(1) | $0.20 | $0.37 | $0.14 | $0.04 | $0.10 | $0.19 |
Net realized and unrealized gain (loss) | 1.07 | 1.42 | (0.50) | 1.73 | 0.46 | 1.07 |
Total income (loss) from operations | $1.27 | $1.79 | $(0.36) | $1.77 | $0.56 | $1.26 |
Less Distributions | ||||||
From net investment income | $— | $(0.31) | $(0.11) | $(0.05) | $(0.09) | $(0.15) |
From net realized gain | — | (0.38) | (0.86) | (0.13) | — | — |
Total distributions | $— | $(0.69) | $(0.97) | $(0.18) | $(0.09) | $(0.15) |
Net asset value — End of period | $15.04 | $13.77 | $12.67 | $14.00 | $12.41 | $11.94 |
Total Return(2) | 9.15%(3) | 14.24% | (2.26)% | 14.22% | 4.73% | 11.62% |
Ratios/Supplemental Data | ||||||
Net assets, end of period (000’s omitted) | $1,019,751 | $843,874 | $713,500 | $971,483 | $1,047,351 | $767,121 |
Ratios (as a percentage of average daily net assets):(4) | ||||||
Total expenses | 0.48%(5) | 0.47% | 0.49% | 0.47% | 0.47% | 0.48% |
Net expenses | 0.48%(5)(6) | 0.47%(6) | 0.49%(6) | 0.47% | 0.47% | 0.48% |
Net investment income | 2.79%(5) | 2.74% | 1.04% | 0.29% | 0.90% | 1.64% |
Portfolio Turnover | 9%(3) | 13% | 28% | 12% | 69% | 21% |
(1) | Computed using average shares outstanding. |
(2) | Returns are historical and are calculated by determining the percentage change in net asset value with all distributions reinvested. |
(3) | Not annualized. |
(4) | Total expenses do not reflect amounts reimbursed and/or waived by the adviser and certain of its affiliates, if applicable. Net expenses are net of all reductions and represent the net expenses paid by the Fund. |
(5) | Annualized. |
(6) | Includes a reduction by the investment adviser of a portion of its adviser and administration fee due to the Fund’s investment in the Liquidity Fund (equal to less than 0.01%, 0.005% and less than 0.005% of average daily net assets for the six months ended July 31, 2024 and the years ended January 31, 2024 and 2023, respectively). |
Aggregate cost | $742,517,837 |
Gross unrealized appreciation | $286,628,766 |
Gross unrealized depreciation | (1,944,121) |
Net unrealized appreciation | $284,684,645 |
Average Daily Net Assets | Annual Fee Rate |
Up to $1 billion | 0.400% |
$1 billion but less than $2.5 billion | 0.375% |
$2.5 billion but less than $5 billion | 0.360% |
$5 billion and over | 0.350% |
Six Months Ended July 31, 2024 (Unaudited) | Year Ended January 31, 2024 | ||||
Shares | Amount | Shares | Amount | ||
Class I | |||||
Sales | 9,904,339 | $144,454,254 | 12,422,674 | $168,245,282 | |
Issued to shareholders electing to receive payments of distributions in Fund shares | — | — | 2,470,648 | 33,452,580 | |
Redemptions | (3,378,820) | (48,574,391) | (9,911,347) | (133,042,098) | |
Net increase | 6,525,519 | $ 95,879,863 | 4,981,975 | $ 68,655,764 |
Fair Value | ||
Derivative | Asset Derivative | Liability Derivative(1) |
Written options | $ — | $(2,524,393) |
(1) | Statement of Assets and Liabilities location: Written options outstanding, at value. |
Derivative | Realized Gain (Loss) on Derivatives Recognized in Income(1) | Change in Unrealized Appreciation (Depreciation) on Derivatives Recognized in Income(2) |
Written options | $5,283,227 | $161,473 |
(1) | Statement of Operations location: Net realized gain (loss): Written options. |
(2) | Statement of Operations location: Change in unrealized appreciation (depreciation): Written options. |
Remaining Contractual Maturity of the Transactions | |||||
Overnight and Continuous | <30 days | 30 to 90 days | >90 days | Total | |
Common Stocks | $709,953 | $ — | $ — | $ — | $709,953 |
U.S. Treasury Obligations | 11,197,740 | — | — | — | 11,197,740 |
Total | $11,907,693 | $ — | $ — | $ — | $11,907,693 |
Name | Value, beginning of period | Purchases | Sales proceeds | Net realized gain (loss) | Change in unrealized appreciation (depreciation) | Value, end of period | Dividend income | Shares, end of period |
Short-Term Investments | ||||||||
Liquidity Fund | $35,338,944 | $379,830,236 | $(383,210,039) | $ — | $ — | $31,959,141 | $980,659 | 31,959,141 |
• | Level 1 – quoted prices in active markets for identical investments |
• | Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.) |
• | Level 3 – significant unobservable inputs (including a fund's own assumptions in determining the fair value of investments) |
Asset Description | Level 1 | Level 2 | Level 3 | Total |
Common Stocks | $507,169,738* | $ — | $ — | $ 507,169,738 |
Short-Term Investments: | ||||
Affiliated Fund | 31,959,141 | — | — | 31,959,141 |
Securities Lending Collateral | 11,907,693 | — | — | 11,907,693 |
U.S. Treasury Obligations | — | 478,690,303 | — | 478,690,303 |
Total Investments | $ 551,036,572 | $478,690,303 | $ — | $1,029,726,875 |
Liability Description | ||||
Written Call Options | $ (1,137,268) | $ — | $ — | $ (1,137,268) |
Written Put Options | (1,387,125) | — | — | (1,387,125) |
Total | $ (2,524,393) | $ — | $ — | $ (2,524,393) |
* | The level classification by major category of investments is the same as the category presentation in the Portfolio of Investments. |
Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies
Not applicable.
Item 9. Proxy Disclosures for Open-End Management Investment Companies
Not applicable.
Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies
The information is disclosed as part of the Financial Statements included in Item 7 of this Form N-CSR.
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract
The information is included in Item 7 of this Form N-CSR.
Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 13. Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 15. Submission of Matters to a Vote of Security Holders
There have been no material changes to the procedures by which shareholders may recommend nominee to the Fund’s Board of Trustees since the Fund last provided disclosure in response to this item.
Item 16. Controls and Procedures
(a) | It is the conclusion of the registrant’s principal executive officer and principal financial officer that the effectiveness of the registrant’s current disclosure controls and procedures (such disclosure controls and procedures having been evaluated within 90 days of the date of this filing) provide reasonable assurance that the information required to be disclosed by the registrant has been recorded, processed, summarized and reported within the time period specified in the Commission’s rules and forms and that the information required to be disclosed by the registrant has been accumulated and communicated to the registrant’s principal executive officer and principal financial officer in order to allow timely decisions regarding required disclosure. |
(b) | There have been no changes in the registrant’s internal controls over financial reporting during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting. |
Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
Not applicable.
Item 18. Recovery of Erroneously Awarded Compensation
Not applicable.
Item 19. Exhibits
(a)(1) | Registrant’s Code of Ethics – Not applicable (please see Item 2). | |
(a)(2)(i) | Principal Financial Officer’s Section 302 certification. | |
(a)(2)(ii) | Principal Executive Officer’s Section 302 certification. | |
(b) | Combined Section 906 certification. |
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.
Eaton Vance Mutual Funds Trust
By: | /s/ Kenneth A. Topping | |
Kenneth A. Topping | ||
Principal Executive Officer | ||
Date: | September 23, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ James F. Kirchner | |
James F. Kirchner | ||
Principal Financial Officer | ||
Date: | September 23, 2024 | |
By: | /s/ Kenneth A. Topping | |
Kenneth A. Topping | ||
Principal Executive Officer | ||
Date: | September 23, 2024 |