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 811-05251
Fidelity Concord Street Trust
(Exact name of registrant as specified in charter)
245 Summer St., Boston, MA 02210
(Address of principal executive offices) (Zip code)
Cynthia Lo Bessette, Secretary
245 Summer St.
Boston, Massachusetts 02210
(Name and address of agent for service)
Registrant's telephone number, including area code:
617-563-7000
Date of fiscal year end: | October 31 |
Date of reporting period: | April 30, 2022 |
Item 1.
Reports to Stockholders
Fidelity® SAI International Small Cap Index Fund
Offered exclusively to certain clients of the Adviser, or its affiliates, including Strategic Advisers LLC (SAI) - not available for sale to the general public. Fidelity SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with SAI.
Semi-Annual Report
April 30, 2022
Contents
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This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
Note to Shareholders:
Early in 2020, the outbreak and spread of COVID-19 emerged as a public health emergency that had a major influence on financial markets, primarily based on its impact on the global economy and corporate earnings. On March 11, 2020, the World Health Organization declared the COVID-19 outbreak a pandemic, citing sustained risk of further global spread. The pandemic prompted a number of measures to limit the spread of COVID-19, including travel and border restrictions, quarantines, and restrictions on large gatherings. In turn, these resulted in lower consumer activity, diminished demand for a wide range of products and services, disruption in manufacturing and supply chains, and – given the wide variability in outcomes regarding the outbreak – significant market uncertainty and volatility. To help stem the turmoil, the U.S. government took unprecedented action – in concert with the U.S. Federal Reserve and central banks around the world – to help support consumers, businesses, and the broader economy, and to limit disruption to the financial system.
In general, the overall impact of the pandemic lessened in 2021, amid a resilient economy and widespread distribution of three COVID-19 vaccines granted emergency use authorization from the U.S. Food and Drug Administration (FDA) early in the year. Still, the situation remains dynamic, and the extent and duration of its influence on financial markets and the economy is highly uncertain, due in part to a recent spike in cases based on highly contagious variants of the coronavirus.
Extreme events such as the COVID-19 crisis are exogenous shocks that can have significant adverse effects on mutual funds and their investments. Although multiple asset classes may be affected by market disruption, the duration and impact may not be the same for all types of assets. Fidelity is committed to helping you stay informed amid news about COVID-19 and during increased market volatility, and we continue to take extra steps to be responsive to customer needs. We encourage you to visit us online, where we offer ongoing updates, commentary, and analysis on the markets and our funds.
Investment Summary (Unaudited)
Geographic Diversification (% of fund's net assets)
As of April 30, 2022 | ||
Japan | 26.6% | |
United Kingdom | 14.9% | |
Australia | 10.4% | |
Sweden | 6.1% | |
Germany | 5.2% | |
Switzerland | 4.8% | |
Israel | 3.3% | |
France | 3.3% | |
Italy | 2.8% | |
Other* | 22.6% |
* Includes Short-Term investments and Net Other Assets (Liabilities).
Percentages are based on country or territory of incorporation and include the effect of futures, if applicable.
Asset Allocation as of April 30, 2022
% of fund's net assets | |
Stocks and Equity Futures | 100.1 |
Short-Term Investments and Net Other Assets (Liabilities) | (0.1) |
Top Ten Stocks as of April 30, 2022
% of fund's net assets | |
Rheinmetall AG (Germany, Aerospace & Defense) | 0.4 |
Meggitt PLC (United Kingdom, Aerospace & Defense) | 0.3 |
Sig Group AG (Switzerland, Containers & Packaging) | 0.3 |
Rightmove PLC (United Kingdom, Interactive Media & Services) | 0.3 |
Indutrade AB (Sweden, Machinery) | 0.3 |
K+S AG (Germany, Chemicals) | 0.3 |
ASR Nederland NV (Netherlands, Insurance) | 0.2 |
IGO Ltd. (Australia, Metals & Mining) | 0.2 |
Electrocomponents PLC (United Kingdom, Trading Companies & Distributors) | 0.2 |
Bank of Ireland Group PLC (Ireland, Banks) | 0.2 |
2.7 |
Market Sectors as of April 30, 2022
% of fund's net assets | |
Industrials | 23.0 |
Real Estate | 12.6 |
Consumer Discretionary | 11.4 |
Financials | 11.4 |
Materials | 9.8 |
Information Technology | 9.8 |
Consumer Staples | 5.9 |
Health Care | 5.9 |
Communication Services | 4.4 |
Utilities | 3.5 |
Energy | 2.4 |
Schedule of Investments April 30, 2022 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 98.3% | |||
Shares | Value | ||
Australia - 10.4% | |||
29Metals Ltd. | 83,391 | $157,803 | |
Abacus Property Group unit | 158,310 | 363,320 | |
Accent Group Ltd. | 111,191 | 111,945 | |
Adbri Ltd. | 113,330 | 231,289 | |
AGL Energy Ltd. | 208,847 | 1,269,558 | |
Alkane Resources Ltd. (a) | 122,097 | 87,400 | |
Allkem Ltd. (a) | 182,103 | 1,517,686 | |
ALS Ltd. | 152,958 | 1,385,050 | |
Altium Ltd. | 37,567 | 846,282 | |
Alumina Ltd. | 782,635 | 985,335 | |
AMP Ltd. (a) | 1,039,420 | 839,774 | |
Ansell Ltd. | 40,413 | 774,039 | |
Appen Ltd. | 36,889 | 168,507 | |
ARB Corp. Ltd. | 23,614 | 654,520 | |
Arena (REIT) unit | 109,525 | 370,656 | |
Atlas Arteria Ltd. unit | 303,949 | 1,476,606 | |
Aub Group Ltd. | 23,470 | 379,998 | |
Aussie Broadband Ltd. (a) | 46,731 | 181,730 | |
Austal Ltd. | 102,022 | 145,216 | |
Australian Agricultural Co. Ltd. (a) | 95,188 | 115,475 | |
Australian Ethical Investment Ltd. | 26,612 | 108,133 | |
Australian Strategic Materials Ltd. (a) | 28,622 | 126,703 | |
AVZ Minerals Ltd. (a) | 761,814 | 511,779 | |
Bank of Queensland Ltd. | 203,715 | 1,155,791 | |
Bapcor Ltd. | 107,130 | 507,825 | |
Beach Energy Ltd. | 540,117 | 615,797 | |
Bega Cheese Ltd. | 95,539 | 337,173 | |
Bellevue Gold Ltd. (a) | 296,695 | 199,698 | |
Bendigo & Adelaide Bank Ltd. | 178,119 | 1,328,024 | |
Betmakers Technology Group Ltd. (a) | 202,823 | 81,008 | |
Blackmores Ltd. | 4,626 | 234,243 | |
Boral Ltd. | 121,918 | 304,140 | |
BrainChip Holdings Ltd. (a)(b) | 429,767 | 285,363 | |
Bravura Solutions Ltd. | 78,053 | 103,519 | |
Breville Group Ltd. | 31,041 | 514,428 | |
Brickworks Ltd. | 23,933 | 397,516 | |
BWP Trust | 152,027 | 441,879 | |
BWX Ltd. | 50,182 | 66,014 | |
Capricorn Metals Ltd. (a) | 89,406 | 260,093 | |
carsales.com Ltd. | 85,266 | 1,258,789 | |
Centuria Capital Group unit | 187,358 | 363,921 | |
Centuria Industrial REIT | 181,081 | 504,640 | |
Centuria Office REIT unit | 143,333 | 220,978 | |
Cettire Ltd. (a)(b) | 42,225 | 19,158 | |
Chalice Mining Ltd. (a) | 101,434 | 486,956 | |
Challenger Ltd. | 183,218 | 927,001 | |
Champion Iron Ltd. | 103,889 | 526,635 | |
Charter Hall Group unit | 147,645 | 1,586,801 | |
Charter Hall Long Wale REIT unit | 193,915 | 727,774 | |
Charter Hall Retail REIT | 169,687 | 530,061 | |
Charter Hall Social Infrastruc | 105,506 | 298,670 | |
Cimic Group Ltd. | 24,593 | 379,749 | |
City Chic Collective Ltd. (a) | 64,546 | 134,346 | |
Cleanaway Waste Management Ltd. | 653,196 | 1,464,164 | |
Clinuvel Pharmaceuticals Ltd. | 12,473 | 143,454 | |
Codan Ltd./Australia | 31,404 | 156,608 | |
Collins Foods Ltd. | 35,003 | 250,643 | |
Corporate Travel Management Ltd. (a) | 34,567 | 623,679 | |
Costa Group Holdings Ltd. | 139,272 | 325,714 | |
Credit Corp. Group Ltd. | 21,548 | 412,030 | |
Cromwell Property Group unit | 453,319 | 272,065 | |
CSR Ltd. | 153,224 | 656,195 | |
Data#3 Ltd. | 46,146 | 187,404 | |
De Grey Mining Ltd. (a) | 357,518 | 300,804 | |
Deterra Royalties Ltd. | 133,412 | 451,958 | |
Dexus Industria (REIT) | 71,066 | 170,017 | |
Dicker Data Ltd. | 19,091 | 176,536 | |
Domain Holdings Australia Ltd. | 73,959 | 180,115 | |
Downer EDI Ltd. | 218,481 | 845,305 | |
Dubber Corp. Ltd. (a) | 84,506 | 60,938 | |
Eagers Automotive Ltd. | 48,673 | 449,901 | |
Elders Ltd. | 49,390 | 496,524 | |
Emeco Holdings Ltd. | 110,728 | 65,067 | |
EML Payments Ltd. (a) | 95,249 | 103,116 | |
Event Hospitality & Entertainment Ltd. (a) | 30,544 | 312,787 | |
Flight Centre Travel Group Ltd. (a)(b) | 50,791 | 793,194 | |
G8 Education Ltd. | 267,627 | 206,243 | |
GDI Property Group unit | 153,817 | 122,334 | |
Genworth Mortgage Insurance Ltd. | 130,196 | 273,735 | |
Gold Road Resources Ltd. | 277,973 | 303,611 | |
GrainCorp Ltd. | 72,189 | 521,664 | |
Growthpoint Properties Australia Ltd. | 97,386 | 299,543 | |
GUD Holdings Ltd. | 39,639 | 356,053 | |
GWA Group Ltd. | 66,942 | 106,927 | |
Hansen Technologies Ltd. | 50,459 | 195,299 | |
Harvey Norman Holdings Ltd. | 178,693 | 636,516 | |
Healius Ltd. | 168,166 | 529,157 | |
Home Consortium Ltd. | 27,491 | 129,611 | |
HomeCo Daily Needs (REIT) unit | 693,554 | 687,121 | |
HUB24 Ltd. | 23,939 | 399,817 | |
IGO Ltd. | 216,064 | 1,964,534 | |
Iluka Resources Ltd. | 134,268 | 1,051,708 | |
Imdex Ltd. | 125,101 | 219,470 | |
Imugene Ltd. (a) | 1,640,596 | 245,500 | |
Incitec Pivot Ltd. | 615,700 | 1,660,556 | |
Ingenia Communities Group unit | 116,647 | 384,014 | |
Inghams Group Ltd. | 105,651 | 228,743 | |
Insignia Financial Ltd. | 201,143 | 483,516 | |
Integral Diagnostics Ltd. | 55,745 | 154,574 | |
Invocare Ltd. | 45,493 | 390,321 | |
ioneer Ltd. (a) | 489,547 | 227,395 | |
IPH Ltd. | 69,727 | 369,648 | |
Iress Ltd. | 60,340 | 464,168 | |
Irongate Group | 162,905 | 220,283 | |
JB Hi-Fi Ltd. (b) | 36,443 | 1,349,716 | |
Johns Lyng Group Ltd. | 56,883 | 356,020 | |
Jumbo Interactive Ltd. | 16,750 | 203,644 | |
Karoon Energy Ltd. (a) | 175,017 | 251,342 | |
Kelsian Group Ltd. | 44,796 | 248,189 | |
Kogan.Com Ltd. (b) | 27,095 | 73,652 | |
Lifestyle Communities Ltd. | 29,694 | 312,957 | |
Link Administration Holdings Ltd. | 138,103 | 488,967 | |
Liontown Resources Ltd. (a) | 517,010 | 518,233 | |
Lovisa Holdings Ltd. | 16,964 | 194,227 | |
Lynas Rare Earths Ltd. (a) | 286,066 | 1,795,112 | |
MA Financial Group Ltd. | 22,253 | 107,654 | |
Maas Group Holdings Ltd. | 28,160 | 100,827 | |
Magellan Financial Group Ltd. | 44,217 | 500,228 | |
Magellan Financial Group Ltd. warrants 4/16/27 (a) | 5,527 | 6,014 | |
Mayne Pharma Group Ltd. (a) | 473,389 | 94,594 | |
McMillan Shakespeare Ltd. | 21,975 | 183,274 | |
Megaport Ltd. (a) | 45,194 | 268,492 | |
Mesoblast Ltd. (a)(b) | 184,236 | 138,463 | |
Metcash Ltd. | 306,654 | 1,029,429 | |
Monadelphous Group Ltd. | 28,456 | 211,975 | |
Nanosonics Ltd. (a) | 80,896 | 223,538 | |
National Storage REIT unit | 366,039 | 662,988 | |
Nearmap Ltd. (a) | 149,101 | 126,230 | |
Netwealth Group Ltd. | 34,637 | 313,623 | |
New Hope Corp. Ltd. (b) | 144,535 | 355,961 | |
NEXTDC Ltd. (a) | 145,143 | 1,126,868 | |
NIB Holdings Ltd. | 145,688 | 725,441 | |
Nick Scali Ltd. | 21,734 | 155,042 | |
Nickel Mines Ltd. | 317,490 | 290,996 | |
Nine Entertainment Co. Holdings Ltd. | 457,633 | 857,735 | |
Novonix Ltd. (a) | 83,775 | 296,817 | |
NRW Holdings Ltd. | 144,049 | 196,393 | |
Nufarm Ltd. | 101,926 | 458,535 | |
Nuix Ltd. (a) | 60,072 | 52,099 | |
Objective Corp. Ltd. | 7,439 | 88,684 | |
Omni Bridgeway Ltd. (a) | 83,593 | 196,400 | |
oOh!media Ltd. | 188,965 | 206,870 | |
Orora Ltd. | 276,510 | 774,873 | |
OZ Minerals Ltd. | 106,482 | 1,848,309 | |
Pact Group Holdings Ltd. | 59,717 | 96,438 | |
Paladin Energy Ltd. (Australia) (a) | 718,496 | 395,407 | |
Pendal Group Ltd. | 108,747 | 400,334 | |
Pepper Money Ltd. | 55,496 | 85,643 | |
Perenti Global Ltd. | 188,851 | 93,833 | |
Perpetual Trustees Australia Ltd. | 17,868 | 410,781 | |
Perseus Mining Ltd. (Australia) | 387,242 | 538,858 | |
PEXA Group Ltd. | 30,781 | 386,006 | |
Pilbara Minerals Ltd. (a) | 754,696 | 1,463,881 | |
Pinnacle Investment Management Group Ltd. | 31,725 | 207,343 | |
Platinum Asset Management Ltd. | 129,678 | 169,687 | |
PointsBet Holdings Ltd. (a) | 62,855 | 128,087 | |
PolyNovo Ltd. (a) | 187,903 | 123,021 | |
PPK Group Ltd. (a) | 10,200 | 27,825 | |
Premier Investments Ltd. | 27,879 | 494,015 | |
Pro Medicus Ltd. | 14,828 | 484,931 | |
Qube Holdings Ltd. | 577,566 | 1,193,514 | |
Ramelius Resources Ltd. | 270,388 | 287,158 | |
Redbubble Ltd. (a) | 60,587 | 47,587 | |
Regis Resources Ltd. | 237,958 | 348,623 | |
Reliance Worldwide Corp. Ltd. | 249,371 | 684,323 | |
Rural Funds Group unit | 116,302 | 250,022 | |
Sandfire Resources NL | 123,858 | 490,906 | |
Sayona Mining Ltd. (a)(b) | 1,663,386 | 361,843 | |
Select Harvests Ltd. | 38,395 | 177,429 | |
Seven Group Holdings Ltd. | 46,222 | 644,885 | |
SG Fleet Group Ltd. | 44,278 | 76,596 | |
Shopping Centres Australasia Property Group unit | 352,244 | 753,889 | |
Sigma Healthcare Ltd. | 285,214 | 100,588 | |
Silver Lake Resources Ltd. (a) | 279,395 | 364,979 | |
Sims Ltd. | 53,503 | 773,595 | |
Smartgroup Corp. Ltd. | 40,031 | 250,704 | |
Southern Cross Media Group Ltd. | 83,385 | 100,784 | |
St Barbara Ltd. | 223,492 | 208,913 | |
Steadfast Group Ltd. | 310,169 | 1,122,931 | |
Super Retail Group Ltd. | 49,903 | 369,237 | |
Tassal Group Ltd. | 68,662 | 182,058 | |
Technology One Ltd. | 87,184 | 629,141 | |
Telix Pharmaceuticals Ltd. (a)(b) | 59,406 | 189,788 | |
Temple & Webster Group Ltd. (a) | 24,809 | 101,259 | |
The Star Entertainment Group Ltd. (a) | 270,493 | 597,433 | |
Tyro Payments Ltd. (a) | 105,112 | 89,843 | |
United Malt Group Ltd. | 89,716 | 262,138 | |
Uniti Group Ltd. (a) | 175,653 | 606,567 | |
Viva Energy Group Ltd. (c) | 270,934 | 531,573 | |
Vulcan Energy Resources Ltd. (a)(b) | 27,357 | 158,235 | |
Waypoint (REIT) unit | 232,286 | 437,878 | |
Webjet Ltd. | 121,429 | 503,830 | |
West African Resources Ltd. (a) | 302,812 | 288,880 | |
Western Areas NL (a) | 101,478 | 274,283 | |
Westgold Resources Ltd. | 120,402 | 139,020 | |
Whitehaven Coal Ltd. | 293,357 | 1,007,402 | |
WorleyParsons Ltd. | 99,988 | 972,385 | |
Zip Co. Ltd. (a)(b) | 141,945 | 104,407 | |
TOTAL AUSTRALIA | 87,918,200 | ||
Austria - 0.9% | |||
Agrana Beteiligungs AG | 4,041 | 71,673 | |
Andritz AG | 21,366 | 908,292 | |
AT&S Austria Technologie & Systemtechnik AG | 7,983 | 408,777 | |
BAWAG Group AG (c) | 22,544 | 1,070,476 | |
CA Immobilien Anlagen AG | 13,495 | 381,135 | |
DO & CO Restaurants & Catering AG (a) | 2,156 | 189,731 | |
EVN AG | 11,403 | 290,278 | |
FACC AG (a) | 6,815 | 56,227 | |
IMMOFINANZ Immobilien Anlagen AG | 25,390 | 608,922 | |
Lenzing AG | 4,197 | 381,040 | |
Oesterreichische Post AG | 10,700 | 344,686 | |
Palfinger AG | 4,772 | 119,734 | |
PORR AG | 5,014 | 63,503 | |
S IMMO AG | 13,995 | 335,913 | |
S&T AG (b) | 15,658 | 264,717 | |
Schoeller-Bleckmann Oilfield Equipment AG (a) | 3,562 | 203,812 | |
Semperit AG Holding | 3,260 | 78,843 | |
Telekom Austria AG | 52,950 | 377,520 | |
UNIQA Insurance Group AG | 39,242 | 299,183 | |
Vienna Insurance Group AG | 12,186 | 302,274 | |
Wienerberger AG | 36,587 | 1,032,772 | |
Zumtobel AG | 8,978 | 64,848 | |
TOTAL AUSTRIA | 7,854,356 | ||
Bailiwick of Guernsey - 0.2% | |||
BMO Commercial Property Trust Ltd. | 241,435 | 356,365 | |
Burford Capital Ltd. | 58,785 | 502,650 | |
Picton Property Income Ltd. | 172,811 | 220,224 | |
Regional REIT Ltd. (c) | 137,881 | 147,279 | |
Sirius Real Estate Ltd. | 352,881 | 536,385 | |
UK Commercial Property REIT Ltd. | 246,081 | 271,131 | |
TOTAL BAILIWICK OF GUERNSEY | 2,034,034 | ||
Bailiwick of Jersey - 0.6% | |||
Boohoo.Com PLC (a) | 319,666 | 323,622 | |
Breedon Group PLC | 480,021 | 474,838 | |
Centamin PLC | 364,988 | 418,320 | |
IWG PLC (a) | 240,197 | 729,222 | |
JTC PLC (c) | 42,201 | 409,777 | |
Man Group PLC | 444,177 | 1,294,566 | |
Petrofac Ltd. (a) | 139,467 | 235,104 | |
Sanne Group PLC | 51,250 | 579,249 | |
TP ICAP Group PLC | 248,986 | 411,826 | |
Yellow Cake PLC (a)(c) | 55,558 | 272,682 | |
TOTAL BAILIWICK OF JERSEY | 5,149,206 | ||
Belgium - 1.9% | |||
Ackermans & Van Haaren SA | 7,437 | 1,325,840 | |
Aedifica SA | 11,506 | 1,363,840 | |
Agfa-Gevaert NV (a) | 44,513 | 178,203 | |
Barco NV | 21,831 | 491,631 | |
Befimmo SCA Sicafi | 7,182 | 358,506 | |
Bekaert SA | 11,452 | 424,512 | |
Bpost SA | 31,596 | 191,440 | |
Cofinimmo SA | 9,537 | 1,280,679 | |
Compagnie D'entreprises CFE SA | 2,398 | 313,293 | |
D'ieteren Group | 7,021 | 1,126,959 | |
Econocom Group SA | 38,999 | 149,011 | |
Euronav NV | 59,054 | 682,831 | |
Fagron NV | 19,657 | 368,722 | |
Galapagos NV (a) | 14,567 | 855,275 | |
Gimv NV | 6,340 | 363,809 | |
Immobel SA | 1,264 | 91,176 | |
Intervest Offices & Warehouses NV | 6,644 | 196,225 | |
Ion Beam Applications SA | 6,668 | 108,791 | |
KBC Ancora | 11,126 | 450,142 | |
Kinepolis Group NV (a) | 4,323 | 239,219 | |
Melexis NV | 6,387 | 548,226 | |
Mithra Pharmaceuticals SA (a)(b) | 6,216 | 60,579 | |
Montea SICAFI SCA | 3,328 | 397,347 | |
Ontex Group NV (a) | 20,818 | 144,235 | |
Orange Belgium | 4,707 | 91,231 | |
Recticel SA | 13,237 | 289,231 | |
Retail Estates NV | 3,375 | 257,064 | |
Telenet Group Holding NV | 14,383 | 428,648 | |
Tessenderlo Group (a) | 5,458 | 191,077 | |
Van de Velde | 1,939 | 79,701 | |
VGP NV | 2,424 | 630,474 | |
Warehouses de Pauw | 43,867 | 1,687,572 | |
Warehouses de Pauw rights (a)(d) | 43,867 | 40,724 | |
Xior Student Housing NV | 6,781 | 362,216 | |
TOTAL BELGIUM | 15,768,429 | ||
Bermuda - 1.0% | |||
BW Energy Ltd. (a) | 25,414 | 73,974 | |
BW LPG Ltd. (c) | 24,630 | 154,880 | |
BW Offshore Ltd. | 29,167 | 83,885 | |
Cafe de Coral Holdings Ltd. | 112,000 | 175,837 | |
Chinese Estates Holdings Ltd. | 155,000 | 45,038 | |
Chow Sang Sang Holdings International Ltd. | 119,000 | 131,750 | |
CMBC Capital Holdings Ltd. | 133,250 | 30,410 | |
FLEX LNG Ltd. | 9,396 | 264,681 | |
Frontline Ltd. (a)(b) | 31,186 | 258,287 | |
Golden Ocean Group Ltd. | 41,119 | 511,896 | |
Hafnia Ltd. (a) | 29,688 | 86,888 | |
Haitong International Securities Group Ltd. | 765,000 | 121,103 | |
Hiscox Ltd. | 109,830 | 1,304,152 | |
Johnson Electric Holdings Ltd. | 114,500 | 130,017 | |
K Wah International Holdings Ltd. | 347,000 | 130,041 | |
Kerry Logistics Network Ltd. | 114,000 | 262,159 | |
Kerry Properties Ltd. | 184,000 | 497,561 | |
Lancashire Holdings Ltd. | 77,501 | 410,747 | |
Luk Fook Holdings International Ltd. | 111,000 | 254,069 | |
Man Wah Holdings Ltd. | 562,800 | 526,739 | |
NWS Holdings Ltd. | 495,000 | 448,114 | |
Pacific Basin Shipping Ltd. | 1,520,000 | 697,392 | |
PAX Global Technology Ltd. | 226,000 | 194,821 | |
Realord Group Holdings Ltd. (a) | 138,000 | 234,655 | |
Shangri-La Asia Ltd. (a) | 340,000 | 257,428 | |
SmarTone Telecommunications Holdings Ltd. | 109,500 | 57,181 | |
Stolt-Nielsen SA | 7,581 | 136,941 | |
Vtech Holdings Ltd. | 53,400 | 377,746 | |
Yue Yuen Industrial (Holdings) Ltd. | 255,000 | 375,076 | |
TOTAL BERMUDA | 8,233,468 | ||
British Virgin Islands - 0.0% | |||
First Pacific Co. Ltd. | 750,000 | 302,404 | |
Cayman Islands - 0.6% | |||
Apollo Future Mobility Group Ltd. (a) | 1,276,000 | 57,121 | |
ASM Pacific Technology Ltd. | 97,300 | 980,568 | |
C-Mer Eye Care Holdings Ltd. | 146,000 | 79,136 | |
Citychamp Watch & Jewel Gr Ltd. (a) | 394,000 | 52,446 | |
CK Life Sciences International Holding, Inc. | 912,000 | 68,098 | |
Comba Telecom Systems Holdings Ltd. (a) | 648,000 | 108,805 | |
Cowell e Holdings, Inc. (a) | 105,000 | 117,529 | |
Crystal International Group Ltd. (c) | 183,000 | 71,387 | |
EC Healthcare | 93,000 | 93,470 | |
Far East Consortium International Ltd. | 345,070 | 107,537 | |
Fosun Tourism Group (a)(c) | 78,400 | 104,530 | |
Health & Happiness H&H International Holdings Ltd. | 72,500 | 79,683 | |
HKBN Ltd. | 249,500 | 291,500 | |
Hutchison Telecommunications Hong Kong Holdings Ltd. | 466,000 | 77,716 | |
IGG, Inc. | 264,000 | 108,736 | |
Lifestyle International Holdings Ltd. (a) | 143,000 | 68,756 | |
LK Technology Holdings Ltd. | 175,000 | 216,963 | |
MECOM Power & Construction Ltd. | 227,000 | 97,176 | |
MGM China Holdings Ltd. (a) | 300,400 | 171,944 | |
Pacific Textile Holdings Ltd. | 292,000 | 128,563 | |
Perfect Shape (PRC) Holdings Ltd. | 116,000 | 67,265 | |
Razer, Inc. (a)(c) | 1,253,000 | 450,294 | |
Sa Sa International Holdings Ltd. (a) | 344,000 | 61,487 | |
Sapiens International Corp. NV | 9,493 | 223,692 | |
Stella International Holdings Ltd. | 139,000 | 144,672 | |
Sunevision Holdings Ltd. | 222,000 | 184,431 | |
Texhong Textile Group Ltd. | 87,500 | 105,225 | |
The United Laboratories International Holdings Ltd. | 320,000 | 156,824 | |
Value Partners Group Ltd. | 323,000 | 122,238 | |
Vesync Co. Ltd. | 74,000 | 53,365 | |
Viva China Holdings Ltd. | 1,216,000 | 145,210 | |
Vobile Group Ltd. (a)(e) | 371,000 | 182,971 | |
VSTECS Holdings Ltd. | 208,000 | 179,078 | |
Wynn Macau Ltd. (a) | 493,200 | 302,936 | |
TOTAL CAYMAN ISLANDS | 5,461,352 | ||
Cyprus - 0.0% | |||
Atalaya Mining PLC | 23,990 | 112,853 | |
Denmark - 1.7% | |||
ALK-Abello A/S (a) | 41,880 | 913,559 | |
Alm. Brand A/S | 267,592 | 461,854 | |
Bavarian Nordic A/S (a) | 20,398 | 386,968 | |
Better Collective A/S (a) | 9,476 | 146,057 | |
cBrain A/S | 2,842 | 91,992 | |
Chemometec A/S | 4,944 | 558,882 | |
D/S Norden A/S | 8,053 | 299,214 | |
DFDS A/S | 11,117 | 430,525 | |
FLSmidth & Co. A/S | 16,381 | 449,037 | |
H Lundbeck A/S | 22,016 | 504,566 | |
ISS A/S (a) | 50,175 | 823,575 | |
Jyske Bank A/S (Reg.) (a) | 17,291 | 956,091 | |
Matas A/S | 12,098 | 167,944 | |
Netcompany Group A/S (a)(c) | 12,630 | 702,383 | |
Nilfisk Holding A/S (a) | 7,268 | 203,460 | |
NKT A/S (a) | 12,886 | 614,140 | |
NNIT A/S (a)(c) | 3,962 | 48,875 | |
NTG Nordic Transport Group A/S (a) | 2,146 | 116,525 | |
Per Aarsleff Holding A/S | 5,716 | 219,362 | |
Ringkjoebing Landbobank A/S | 8,775 | 1,076,063 | |
Royal Unibrew A/S | 15,476 | 1,333,894 | |
Scandinavian Tobacco Group A/S (c) | 20,033 | 417,603 | |
Schouw & Co. | 4,031 | 308,175 | |
SimCorp A/S | 12,906 | 903,505 | |
Solar Holding A/S | 1,734 | 205,640 | |
Spar Nord Bank A/S | 27,205 | 345,410 | |
Sydbank A/S | 18,848 | 647,860 | |
The Drilling Co. of 1972 A/S (a) | 6,559 | 327,085 | |
Topdanmark A/S | 14,313 | 803,188 | |
Trifork Holding AG | 2,804 | 82,168 | |
Zealand Pharma A/S (a) | 10,997 | 123,991 | |
TOTAL DENMARK | 14,669,591 | ||
Faroe Islands - 0.1% | |||
Bakkafrost | 15,955 | 1,095,439 | |
Finland - 1.5% | |||
Admicom OYJ | 933 | 60,475 | |
Aktia Bank Oyj (A Shares) | 18,469 | 187,271 | |
Anora Group Oyj | 10,674 | 98,534 | |
Basware Oyj (a) | 3,885 | 161,364 | |
Cargotec Corp. (B Shares) | 12,194 | 422,211 | |
Caverion Oyj | 30,711 | 150,411 | |
Citycon Oyj | 19,643 | 139,614 | |
Finnair Oyj (a)(b) | 199,869 | 98,512 | |
Harvia Oyj | 4,427 | 151,640 | |
Huhtamaki Oyj | 30,778 | 1,163,417 | |
Kamux Corp. | 10,105 | 102,261 | |
Kemira Oyj | 34,371 | 450,850 | |
Kojamo OYJ | 39,270 | 781,206 | |
Konecranes Oyj | 18,756 | 527,114 | |
Marimekko Oyj | 9,635 | 134,241 | |
Metsa Board OYJ (B Shares) | 56,139 | 604,999 | |
Metso Outotec Oyj | 197,042 | 1,677,805 | |
Musti Group OYJ | 10,057 | 236,627 | |
Nokian Tyres PLC | 41,920 | 562,926 | |
Oriola-KD Oyj | 32,814 | 71,302 | |
Outokumpu Oyj (A Shares) (b) | 116,378 | 571,330 | |
Puuilo Oyj | 16,445 | 113,263 | |
Qt Group Oyj (a) | 5,605 | 488,340 | |
Remedy Entertainment Oyj (b) | 2,475 | 81,476 | |
Revenio Group Oyj | 7,584 | 360,872 | |
Rovio Entertainment OYJ (c) | 11,662 | 106,675 | |
Sanoma Corp. | 23,246 | 293,644 | |
Spinnova Oyj (b) | 4,861 | 40,751 | |
Talenom OYJ | 8,964 | 98,339 | |
TietoEVRY Oyj | 28,284 | 709,568 | |
Tokmanni Group Corp. | 14,874 | 193,282 | |
Uponor Oyj | 17,330 | 304,503 | |
Valmet Corp. | 52,891 | 1,416,462 | |
Withsecure Oyj | 30,087 | 163,249 | |
YIT OYJ | 43,356 | 174,513 | |
TOTAL FINLAND | 12,899,047 | ||
France - 3.3% | |||
AB Science SA (a) | 9,602 | 106,343 | |
ABC Arbitrage SA | 11,303 | 87,140 | |
Air France KLM (Reg.) (a)(b) | 91,311 | 376,134 | |
Akwel | 2,563 | 47,060 | |
Albioma SA | 8,095 | 430,300 | |
ALD SA (c) | 31,921 | 434,061 | |
Altarea SCA | 1,283 | 196,372 | |
ALTEN | 9,283 | 1,245,850 | |
Aramis Group SAS (c) | 6,616 | 38,526 | |
Atos SE | 31,602 | 769,874 | |
Aubay | 2,295 | 132,306 | |
Believe SA | 6,069 | 74,023 | |
Beneteau SA (a) | 11,778 | 147,873 | |
BIC SA | 7,888 | 470,670 | |
Boiron SA | 1,458 | 64,039 | |
Bonduelle SCA | 4,136 | 69,723 | |
Carmila SA | 16,158 | 251,339 | |
Casino Guichard Perrachon SA (a)(b) | 11,978 | 209,866 | |
Cellectis SA (a) | 11,475 | 40,726 | |
CGG SA (a) | 224,524 | 258,301 | |
Chargeurs SA | 5,597 | 101,373 | |
Coface SA | 33,187 | 397,855 | |
Compagnie des Alpes (a) | 6,626 | 102,478 | |
Derichebourg | 30,197 | 272,508 | |
Elior SA (a)(c) | 38,516 | 117,603 | |
Elis SA | 60,492 | 867,531 | |
Eramet SA | 2,993 | 398,913 | |
Esker SA | 1,671 | 281,469 | |
Europcar Groupe SA (a)(c) | 961,665 | 508,891 | |
Eutelsat Communications | 54,597 | 606,759 | |
Fnac Darty SA | 5,495 | 272,070 | |
Gaztransport et Technigaz SA | 7,025 | 836,527 | |
Groupe Guillin SA | 2,402 | 54,639 | |
Guerbet | 1,846 | 48,148 | |
ICADE | 9,633 | 575,147 | |
ID Logistics Group (a) | 806 | 256,683 | |
Imerys SA | 10,738 | 422,441 | |
Interparfums SA | 5,419 | 300,677 | |
Ipsos SA | 12,632 | 608,118 | |
JCDecaux SA (a) | 20,177 | 422,972 | |
Kaufman & Broad SA | 4,482 | 136,310 | |
Korian SA | 23,396 | 491,338 | |
Lagardere S.C.A. (Reg.) | 11,147 | 291,959 | |
LISI | 5,976 | 135,110 | |
LNA Sante SA | 1,540 | 56,350 | |
Maisons du Monde SA (c) | 10,004 | 170,616 | |
Manitou BF SA | 3,134 | 71,106 | |
McPhy Energy SA (a)(b) | 6,585 | 120,290 | |
Mercialys SA | 22,237 | 214,739 | |
Mersen SA | 5,576 | 184,431 | |
Metropole Television SA | 8,004 | 148,532 | |
Neoen SA (c) | 11,823 | 472,396 | |
Nexans SA | 7,665 | 698,186 | |
Nexity | 12,413 | 376,935 | |
Peugeot Invest | 1,577 | 176,232 | |
Pharmagest Interactive | 1,200 | 96,376 | |
Plastic Omnium SA | 18,621 | 301,432 | |
Quadient SA | 10,914 | 204,106 | |
Rexel SA | 77,573 | 1,589,057 | |
Rubis SCA | 29,279 | 778,748 | |
SCOR SE | 50,256 | 1,420,930 | |
SES-imagotag SA (a) | 1,493 | 137,336 | |
SMCP S.A.S. (a)(c) | 10,629 | 69,066 | |
Soitec SA (a) | 7,191 | 1,288,153 | |
Sopra Steria Group | 4,898 | 868,065 | |
SPIE SA | 40,726 | 958,529 | |
Technicolor SA (a) | 64,840 | 216,440 | |
Television Francaise 1 SA | 13,330 | 112,894 | |
Trigano SA | 2,750 | 354,314 | |
Vallourec SA (a) | 43,362 | 510,942 | |
Valneva SE (a)(b) | 23,341 | 298,833 | |
Verallia SA (c) | 23,440 | 644,350 | |
Vicat SA | 6,390 | 192,154 | |
Vilmorin & Cie | 1,817 | 86,330 | |
Virbac SA | 1,335 | 539,002 | |
Voltalia SA (a) | 7,529 | 159,022 | |
X-Fab Silicon Foundries SE (a)(c) | 18,623 | 131,840 | |
TOTAL FRANCE | 27,605,777 | ||
Germany - 5.0% | |||
1&1 AG | 14,081 | 296,733 | |
Aareal Bank AG | 18,920 | 644,676 | |
About You Holding AG | 11,886 | 128,449 | |
Adesso AG | 941 | 184,435 | |
ADVA Optical Networking SE (a) | 13,698 | 226,573 | |
Aixtron AG | 36,114 | 925,846 | |
Amadeus Fire AG | 1,811 | 253,477 | |
ATOSS Software AG | 1,261 | 183,229 | |
AURELIUS AG | 9,447 | 251,675 | |
Aurubis AG | 10,026 | 1,139,349 | |
Basler AG | 1,163 | 130,136 | |
BayWa AG | 4,518 | 215,454 | |
Befesa SA (c) | 12,732 | 795,126 | |
Bertrandt AG | 1,772 | 82,321 | |
Bike24 Holding AG | 6,468 | 41,797 | |
Bilfinger Berger AG | 8,578 | 345,242 | |
Borussia Dortmund GmbH & Co. KGaA (a) | 24,577 | 96,257 | |
CANCOM AG | 12,293 | 593,598 | |
CECONOMY AG | 50,788 | 174,009 | |
Cewe Stiftung & Co. KGAA | 1,767 | 161,288 | |
CompuGroup Medical AG | 8,502 | 454,457 | |
Corestate Capital Holding SA (b) | 6,466 | 56,057 | |
CropEnergies AG | 8,303 | 107,694 | |
CTS Eventim AG (a) | 18,325 | 1,257,756 | |
Datagroup AG | 1,324 | 110,149 | |
Dermapharm Holding SE | 5,961 | 337,039 | |
Deutsche Beteiligungs AG | 4,229 | 131,422 | |
Deutsche EuroShop AG | 15,677 | 259,741 | |
Deutsche Pfandbriefbank AG (c) | 42,615 | 536,337 | |
Deutz AG | 38,336 | 169,912 | |
DIC Asset AG | 14,355 | 200,825 | |
Draegerwerk AG & Co. KGaA | 943 | 43,244 | |
Duerr AG | 16,578 | 430,858 | |
Eckert & Ziegler Strahlen-und Medizintechnik AG | 4,684 | 235,048 | |
ELMOS Semiconductor AG | 2,548 | 127,056 | |
ElringKlinger AG | 9,144 | 75,807 | |
Encavis AG | 38,453 | 839,454 | |
Energiekontor AG | 2,015 | 192,486 | |
Evotec OAI AG (a) | 44,503 | 1,083,579 | |
Fielmann AG | 8,008 | 404,820 | |
Flatex AG (a) | 10,403 | 177,679 | |
Fraport AG Frankfurt Airport Services Worldwide (a) | 11,782 | 629,622 | |
Freenet AG | 40,924 | 1,132,295 | |
Gerresheimer AG (b) | 9,930 | 689,761 | |
GFT Technologies AG | 5,407 | 214,769 | |
Global Fashion Group SA (a) | 24,179 | 46,041 | |
Grenkeleasing AG | 8,837 | 233,121 | |
Hamborner (REIT) AG | 22,146 | 206,695 | |
Hamburger Hafen und Logistik AG | 9,579 | 155,884 | |
Heidelberger Druckmaschinen AG (a) | 81,789 | 180,702 | |
Hensoldt AG | 13,388 | 372,842 | |
Hochtief AG | 6,721 | 406,744 | |
Home24 AG (a) | 8,383 | 49,109 | |
Hornbach Holding AG & Co. KGaA | 3,036 | 363,420 | |
Hugo Boss AG | 19,028 | 1,067,146 | |
Hypoport AG (a) | 1,129 | 312,116 | |
INDUS Holding AG | 6,001 | 170,716 | |
Instone Real Estate Group BV (c) | 14,871 | 228,300 | |
Jenoptik AG | 16,488 | 463,458 | |
JOST Werke AG (c) | 4,502 | 174,135 | |
K+S AG | 60,788 | 2,041,747 | |
Kloeckner & Co. AG | 23,666 | 304,860 | |
Koenig & Bauer AG (a) | 4,461 | 87,069 | |
Krones AG | 4,511 | 348,310 | |
KWS Saat AG | 3,748 | 276,576 | |
LPKF Laser & Electronics AG (b) | 7,758 | 97,516 | |
MBB SE | 664 | 88,760 | |
Medios AG (a) | 4,001 | 102,630 | |
Metro Wholesale & Food Specialist AG | 39,949 | 350,910 | |
Mister Spex SE | 5,094 | 36,138 | |
MLP SE | 20,734 | 145,449 | |
Morphosys AG (a)(b) | 10,814 | 227,989 | |
Nagarro SE (a) | 2,642 | 371,471 | |
New Work SE | 916 | 156,028 | |
Nordex Se (a) | 32,856 | 474,182 | |
NORMA Group AG | 10,084 | 248,771 | |
Northern Data AG (a) | 1,558 | 80,230 | |
OHB SE | 1,698 | 60,018 | |
Patrizia Immobilien AG | 14,631 | 250,265 | |
Pfeiffer Vacuum Technology AG | 1,251 | 222,697 | |
PNE AG | 11,437 | 145,274 | |
ProSiebenSat.1 Media AG | 51,991 | 598,197 | |
PVA TePla AG (a) | 6,187 | 152,711 | |
Rheinmetall AG | 13,869 | 3,126,404 | |
SAF-Holland SA | 14,495 | 110,166 | |
Salzgitter AG | 11,406 | 473,458 | |
Schaeffler AG | 39,509 | 212,175 | |
secunet Security Network AG | 411 | 174,011 | |
SGL Carbon AG (a) | 19,345 | 106,216 | |
Shop Apotheke Europe NV (a)(c) | 4,284 | 353,297 | |
Siltronic AG | 5,247 | 492,741 | |
Sixt SE | 4,290 | 557,753 | |
SMA Solar Technology AG (b) | 3,301 | 150,225 | |
Software AG (Bearer) | 16,366 | 503,742 | |
Steico AG | 1,783 | 178,900 | |
STRATEC Biomedical Systems AG | 2,494 | 282,286 | |
Stroeer SE & Co. KGaA | 8,996 | 538,199 | |
Suedzucker AG (Bearer) | 22,742 | 296,183 | |
Synlab AG | 21,253 | 317,168 | |
TAG Immobilien AG | 46,579 | 930,902 | |
Takkt AG | 10,730 | 173,359 | |
TeamViewer AG (a)(c) | 50,787 | 609,396 | |
Thyssenkrupp AG (a) | 128,431 | 984,941 | |
TUI AG (GB) (a)(b) | 360,401 | 1,027,504 | |
Varta AG (b) | 5,745 | 537,535 | |
VERBIO Vereinigte BioEnergie AG | 6,986 | 495,059 | |
Vitesco Technologies Group AG (a) | 7,018 | 282,036 | |
Vossloh AG | 2,817 | 107,464 | |
Wacker Chemie AG | 4,948 | 785,089 | |
Wacker Construction Equipment AG | 10,006 | 207,746 | |
Westwing Group Se (a) | 3,674 | 41,782 | |
Wustenrot & Wurttembergische AG | 7,523 | 141,902 | |
ZEAL Network SE | 4,695 | 182,628 | |
TOTAL GERMANY | 42,446,031 | ||
Gibraltar - 0.0% | |||
888 Holdings PLC | 117,534 | 280,651 | |
Hong Kong - 0.6% | |||
Bank of East Asia Ltd. | 427,406 | 632,441 | |
BOCOM International Holdings Co. Ltd. | 263,000 | 35,855 | |
Champion (REIT) | 658,000 | 288,156 | |
CITIC 1616 Holdings Ltd. | 527,000 | 189,120 | |
Dah Sing Banking Group Ltd. | 133,600 | 112,275 | |
Dah Sing Financial Holdings Ltd. | 50,800 | 147,824 | |
Fortune (REIT) | 461,000 | 402,786 | |
Guotai Junan International Holdings Ltd. | 915,000 | 99,417 | |
Hang Lung Group Ltd. | 258,000 | 503,743 | |
Hong Kong & Shanghai Hotels Ltd. (a) | 131,500 | 130,546 | |
Hong Kong Television Network Ltd. | 175,000 | 148,307 | |
Hysan Development Co. Ltd. | 197,000 | 579,620 | |
Melco International Development Ltd. (a) | 216,000 | 170,545 | |
Nissin Foods Co. Ltd. | 102,000 | 67,059 | |
PCCW Ltd. | 1,347,000 | 763,160 | |
Prosperity (REIT) | 413,000 | 141,608 | |
Shun Tak Holdings Ltd. (a) | 430,000 | 87,109 | |
SJM Holdings Ltd. (a) | 628,000 | 263,800 | |
Sun Hung Kai & Co. Ltd. | 123,000 | 58,320 | |
Sunlight (REIT) | 318,000 | 155,362 | |
Vitasoy International Holdings Ltd. | 236,000 | 427,886 | |
Zensun Enterprises Ltd. | 181,000 | 84,752 | |
TOTAL HONG KONG | 5,489,691 | ||
Ireland - 0.8% | |||
AIB Group PLC | 257,457 | 559,232 | |
Bank of Ireland Group PLC | 307,985 | 1,866,607 | |
C&C Group PLC (United Kingdom) (a) | 124,279 | 324,428 | |
Cairn Homes PLC | 225,823 | 272,309 | |
Dalata Hotel Group PLC (a) | 63,447 | 289,804 | |
Glanbia PLC | 63,775 | 760,349 | |
Glenveagh Properties PLC(a)(c) | 213,074 | 257,123 | |
Grafton Group PLC unit | 72,181 | 874,203 | |
Greencore Group PLC (a) | 166,282 | 237,462 | |
Hibernia (REIT) PLC | 209,765 | 355,705 | |
Irish Residential Properties REIT PLC | 142,385 | 218,740 | |
Origin Enterprises PLC | 40,169 | 178,584 | |
Uniphar PLC | 73,499 | 302,484 | |
TOTAL IRELAND | 6,497,030 | ||
Isle of Man - 0.1% | |||
Kape Technologies PLC (a) | 33,185 | 142,688 | |
Playtech Ltd. (a) | 97,405 | 636,725 | |
Strix Group PLC (b) | 65,197 | 172,686 | |
TOTAL ISLE OF MAN | 952,099 | ||
Israel - 3.3% | |||
AFI Properties Ltd. | 3,420 | 207,515 | |
Airport City Ltd. (a) | 21,609 | 485,377 | |
Alony Hetz Properties & Investments Ltd. | 46,944 | 773,261 | |
Altshuler Shaham Financial Ltd. (a) | 18,176 | 71,202 | |
Amot Investments Ltd. | 70,165 | 536,692 | |
Arad Investment & Industrial Development Ltd. | 1,022 | 138,042 | |
Ashtrom Group Ltd. | 12,761 | 359,249 | |
AudioCodes Ltd. | 8,525 | 200,908 | |
Azorim Investment Development & Construction Co. Ltd. | 26,655 | 138,903 | |
Bezeq The Israel Telecommunication Corp. Ltd. | 658,591 | 1,051,497 | |
Big Shopping Centers Ltd. | 3,335 | 507,391 | |
Blue Square Real Estate Ltd. | 1,645 | 147,651 | |
Caesarstone Sdot-Yam Ltd. | 7,589 | 74,600 | |
Camtek Ltd. (a) | 8,973 | 264,030 | |
Cellcom Israel Ltd. (Israel) (a) | 28,327 | 165,432 | |
Cellebrite DI Ltd. (a)(b) | 11,814 | 63,205 | |
Clal Insurance Enterprises Holdings Ltd. (a) | 19,203 | 428,114 | |
Cognyte Software Ltd. (a) | 21,415 | 145,194 | |
Compugen Ltd. (a)(b) | 26,476 | 63,013 | |
Danel Adir Yeoshua Ltd. | 1,618 | 256,971 | |
Delek Automotive Systems Ltd. | 16,195 | 230,387 | |
Delek Group Ltd. (a) | 2,923 | 479,901 | |
Delta Galil Industries Ltd. | 2,827 | 189,652 | |
Doral Group Renewable Energy Resources Ltd. (a) | 18,548 | 72,214 | |
Elco Ltd. | 3,025 | 235,550 | |
Electra Consumer Products 1970 Ltd. | 3,474 | 198,202 | |
Electra Israel Ltd. | 669 | 460,827 | |
Electra Real Estate Ltd. | 7,181 | 121,533 | |
Electreon Wireless Ltd. (a) | 1,382 | 42,631 | |
Energix-Renewable Energies Ltd. | 69,171 | 237,199 | |
Enlight Renewable Energy Ltd. (a) | 293,753 | 637,916 | |
Equital Ltd. (a) | 6,411 | 263,237 | |
Fattal Holdings 1998 Ltd. (a) | 1,953 | 283,328 | |
FIBI Holdings Ltd. | 5,593 | 263,988 | |
First International Bank of Israel | 17,575 | 743,740 | |
Formula Systems (1985) Ltd. | 2,895 | 281,783 | |
Fox Wizel Ltd. | 2,363 | 350,310 | |
Gav-Yam Lands Corp. Ltd. | 44,007 | 487,649 | |
Gazit-Globe Ltd. | 21,547 | 203,467 | |
Gilat Satellite Networks Ltd. (a) | 10,615 | 78,333 | |
Harel Insurance Investments and Financial Services Ltd. | 37,168 | 458,617 | |
Hilan Ltd. | 4,624 | 270,322 | |
IDI Insurance Co. Ltd. | 2,541 | 84,243 | |
Isracard Ltd. | 63,126 | 319,506 | |
Israel Canada T.R Ltd. | 37,591 | 188,011 | |
Israel Corp. Ltd. (Class A) (a) | 1,227 | 703,715 | |
Isras Investment Co. Ltd. | 511 | 125,707 | |
Ituran Location & Control Ltd. | 5,581 | 125,238 | |
M Yochananof & Sons Ltd. | 1,599 | 95,490 | |
Magic Software Enterprises Ltd. | 8,512 | 147,755 | |
Malam Team Ltd. | 2,414 | 69,839 | |
Matrix IT Ltd. | 10,861 | 275,607 | |
Maytronics Ltd. | 13,804 | 246,810 | |
Mega Or Holdings Ltd. | 7,459 | 287,503 | |
Melisron Ltd. (a) | 6,741 | 551,958 | |
Menora Mivtachim Holdings Ltd. (a) | 7,977 | 199,963 | |
Migdal Insurance & Financial Holdings Ltd. | 116,250 | 197,371 | |
Mivne Real Estate KD Ltd. | 189,167 | 713,838 | |
Nano Dimension Ltd. ADR (a)(b) | 80,917 | 229,804 | |
Naphtha Israel Petroleum Corp. Ltd. (a) | 10,857 | 86,850 | |
Nayax Ltd. | 25,827 | 44,515 | |
Nova Ltd. (a) | 9,040 | 873,948 | |
Oil Refineries Ltd. | 556,734 | 249,605 | |
One Software Technologies Ltd. | 12,406 | 206,024 | |
OPC Energy Ltd. (a) | 28,683 | 317,240 | |
Partner Communications Co. Ltd. (a) | 43,550 | 346,939 | |
Paz Oil Co. Ltd. (a) | 3,222 | 500,525 | |
Perion Network Ltd. (a) | 12,429 | 272,924 | |
Plus500 Ltd. | 28,765 | 560,139 | |
Prashkovsky Investments & Construction Ltd. | 2,363 | 93,628 | |
Property & Building Corp. Ltd. (a) | 933 | 130,184 | |
Radware Ltd. (a) | 13,281 | 383,954 | |
Rami Levi Chain Stores Hashikma Marketing 2006 Ltd. | 2,824 | 214,570 | |
Reit 1 Ltd. | 56,476 | 369,741 | |
Retailors Ltd. | 3,823 | 94,069 | |
Riskified Ltd. (a) | 7,209 | 37,703 | |
Shapir Engineering and Industry Ltd. | 45,127 | 425,321 | |
Shikun & Binui Ltd. (a) | 74,693 | 444,713 | |
Shufersal Ltd. | 83,731 | 707,664 | |
Sisram Medical Ltd. (c) | 43,600 | 46,557 | |
Strauss Group Ltd. | 16,510 | 442,541 | |
Summit Real Estate Holdings Ltd. | 11,649 | 275,613 | |
Taboola.com Ltd. (a) | 18,044 | 77,770 | |
Tadiran Group Ltd. | 949 | 155,126 | |
Taro Pharmaceutical Industries Ltd. (a) | 2,980 | 116,965 | |
The Phoenix Holdings Ltd. | 47,783 | 604,765 | |
Tower Semiconductor Ltd. (a) | 32,519 | 1,568,002 | |
Tremor International Ltd. (a) | 34,465 | 206,779 | |
UroGen Pharma Ltd. (a)(b) | 6,776 | 47,839 | |
YH Dimri Construction & Development Ltd. | 2,361 | 214,180 | |
ZIM Integrated Shipping Services Ltd. | 13,168 | 732,536 | |
TOTAL ISRAEL | 28,080,320 | ||
Italy - 2.8% | |||
A2A SpA | 497,928 | 850,739 | |
ACEA SpA | 13,452 | 230,754 | |
Anima Holding SpA (c) | 81,609 | 397,659 | |
Arnoldo Mondadori Editore SpA | 41,291 | 84,576 | |
Ascopiave SpA | 25,978 | 96,008 | |
Autogrill SpA (a) | 60,794 | 451,450 | |
Azimut Holding SpA | 34,191 | 725,734 | |
Banca Generali SpA | 18,612 | 615,334 | |
Banca IFIS SpA | 7,646 | 138,846 | |
Banca Mediolanum S.p.A. | 71,006 | 515,457 | |
Banca Monte dei Paschi di Siena SpA (a)(b) | 94,752 | 79,838 | |
Banca Popolare di Sondrio SCARL | 144,763 | 574,918 | |
Banco BPM SpA | 433,033 | 1,364,356 | |
BFF Bank SpA (c) | 52,640 | 328,242 | |
Biesse SpA | 4,320 | 67,395 | |
BPER Banca | 337,838 | 564,391 | |
Brembo SpA | 47,552 | 475,937 | |
Brunello Cucinelli SpA | 10,743 | 549,866 | |
Buzzi Unicem SpA | 30,402 | 563,005 | |
Carel Industries SpA (c) | 11,048 | 265,833 | |
CIR SpA (a) | 223,614 | 96,888 | |
Credito Emiliano SpA | 26,943 | 164,599 | |
Danieli & C. Officine Meccaniche SpA | 3,142 | 66,891 | |
Datalogic SpA | 4,809 | 46,728 | |
De'Longhi SpA | 21,423 | 519,502 | |
Digital Bros SpA | 1,624 | 41,252 | |
Digital Value SpA (a) | 1,101 | 94,844 | |
Dovalue SpA (c) | 18,945 | 161,085 | |
El.En. Group SpA | 13,845 | 192,966 | |
Enav SpA (a)(c) | 85,454 | 394,496 | |
ERG SpA | 18,980 | 653,970 | |
Esprinet SpA | 9,643 | 89,063 | |
Falck Renewables SpA | 36,787 | 342,473 | |
Fila SpA | 7,209 | 71,703 | |
Fincantieri SpA (a)(b) | 161,047 | 98,234 | |
Gruppo MutuiOnline SpA | 8,207 | 251,318 | |
GVS SpA (c) | 22,101 | 184,083 | |
Hera SpA | 260,208 | 970,470 | |
Illimity Bank SpA (a) | 19,215 | 249,322 | |
Immobiliare Grande Distribuzione SpA | 18,245 | 86,498 | |
Interpump Group SpA | 22,451 | 907,689 | |
Iren SpA | 205,368 | 530,863 | |
Italgas SpA | 154,305 | 999,075 | |
Italmobiliare SpA | 4,021 | 127,389 | |
Iveco Group NV (a) | 65,065 | 382,802 | |
Juventus Football Club SpA (a)(b) | 319,154 | 103,588 | |
Leonardo SpA | 128,597 | 1,323,441 | |
Maire Tecnimont SpA (b) | 46,702 | 136,799 | |
MARR SpA | 10,499 | 170,025 | |
OVS (c) | 68,882 | 131,417 | |
Pharmanutra SpA | 1,224 | 82,870 | |
Piaggio & C SpA | 51,108 | 127,441 | |
Pirelli & C. SpA (c) | 110,764 | 548,947 | |
Rai Way SpA (c) | 30,093 | 176,930 | |
Reply SpA | 6,540 | 962,800 | |
Saipem SpA (a)(b) | 175,451 | 198,567 | |
Salcef Group SpA | 5,630 | 106,507 | |
Salvatore Ferragamo Italia SpA | 16,001 | 278,107 | |
Sanlorenzo SpA | 3,815 | 134,902 | |
Saras SpA (a) | 180,131 | 167,651 | |
Seco SpA | 10,949 | 67,156 | |
Sesa SpA | 2,446 | 353,613 | |
Societa Cattolica Di Assicurazioni SCRL | 14,374 | 93,180 | |
SOL SpA | 11,457 | 201,332 | |
Tamburi Investment Partners SpA | 32,071 | 292,180 | |
Technogym SpA (c) | 41,344 | 312,061 | |
Tinexta SpA | 6,704 | 167,717 | |
Tod's SpA (a) | 3,141 | 124,148 | |
Unipol Gruppo SpA | 124,358 | 678,077 | |
Webuild SpA (b) | 126,355 | 214,825 | |
Webuild SpA warrants 8/2/30 (a)(e) | 6,641 | 6,038 | |
Wiit SpA | 3,094 | 82,655 | |
Zignago Vetro SpA | 6,948 | 85,200 | |
TOTAL ITALY | 23,992,715 | ||
Japan - 26.6% | |||
77 Bank Ltd. | 16,900 | 209,552 | |
ABC-MART, Inc. | 10,400 | 431,288 | |
Activia Properties, Inc. | 222 | 709,405 | |
Adastria Co. Ltd. | 6,900 | 114,354 | |
Adeka Corp. | 24,600 | 471,784 | |
Advan Group Co. Ltd. | 6,100 | 38,428 | |
Advance Residence Investment Corp. | 417 | 1,141,917 | |
Aeon (REIT) Investment Corp. | 488 | 560,280 | |
Aeon Delight Co. Ltd. | 6,800 | 145,343 | |
AEON Financial Service Co. Ltd. | 34,100 | 313,495 | |
Aeon Hokkaido Corp. | 6,600 | 52,916 | |
AEON MALL Co. Ltd. | 32,300 | 393,012 | |
Ai Holdings Corp. | 11,600 | 152,288 | |
Aica Kogyo Co. Ltd. | 16,000 | 370,370 | |
Aichi Corp. | 9,500 | 66,106 | |
Aichi Steel Corp. | 3,100 | 53,656 | |
Aida Engineering Ltd. | 14,200 | 105,201 | |
Aiful Corp. | 99,400 | 283,322 | |
Ain Holdings, Inc. | 7,900 | 354,352 | |
Air Water, Inc. | 58,500 | 776,465 | |
Airtrip Corp. | 4,100 | 99,921 | |
Alfresa Holdings Corp. | 59,500 | 809,123 | |
Alpen Co. Ltd. | 4,500 | 68,211 | |
Alpha Systems, Inc. | 2,000 | 59,125 | |
Alps Alpine Co. Ltd. | 66,300 | 586,929 | |
Altech Corp. | 5,000 | 74,767 | |
Amada Co. Ltd. | 107,700 | 836,286 | |
Amano Corp. | 17,200 | 331,121 | |
AnGes MG, Inc. (a)(b) | 45,900 | 128,851 | |
Anicom Holdings, Inc. | 23,100 | 108,965 | |
Anritsu Corp. | 44,000 | 553,279 | |
Aoki International Co. Ltd. | 11,600 | 54,597 | |
Aozora Bank Ltd. | 37,700 | 754,774 | |
Arata Corp. | 4,500 | 124,335 | |
Arcland Sakamoto Co. Ltd. | 8,500 | 101,746 | |
Arcland Service Holdings Co. Ltd. | 4,700 | 81,222 | |
ARCS Co. Ltd. | 13,900 | 220,057 | |
Argo Graphics, Inc. | 4,900 | 116,311 | |
Ariake Japan Co. Ltd. | 5,700 | 228,692 | |
ARTERIA Networks Corp. | 7,900 | 80,918 | |
As One Corp. | 9,200 | 488,456 | |
Asahi Holdings, Inc. | 23,900 | 379,376 | |
Asics Corp. | 48,000 | 757,284 | |
ASKUL Corp. | 11,500 | 140,824 | |
Atom Corp. | 36,700 | 209,130 | |
Autobacs Seven Co. Ltd. | 20,700 | 217,951 | |
Avex, Inc. | 10,700 | 115,022 | |
Axial Retailing, Inc. | 5,200 | 136,182 | |
Bank of Kyoto Ltd. | 18,100 | 788,574 | |
BASE, Inc. (a) | 24,500 | 66,624 | |
BayCurrent Consulting, Inc. | 4,200 | 1,377,043 | |
Belc Co. Ltd. | 3,300 | 140,538 | |
Bell System24 Holdings, Inc. | 10,400 | 120,271 | |
Belluna Co. Ltd. | 15,700 | 88,189 | |
Benesse Holdings, Inc. | 21,000 | 367,435 | |
BeNext-Yumeshin Group Co. | 17,200 | 198,071 | |
Bengo4.Com, Inc. (a)(b) | 2,500 | 64,333 | |
Bic Camera, Inc. | 29,700 | 250,680 | |
Biprogy, Inc. | 22,500 | 568,462 | |
BML, Inc. | 7,000 | 180,149 | |
Broadleaf Co. Ltd. | 27,700 | 78,269 | |
Bunka Shutter Co. Ltd. | 15,900 | 119,494 | |
Bushiroad, Inc. (a) | 4,200 | 49,483 | |
Calbee, Inc. | 27,500 | 492,591 | |
Canon Electronics, Inc. | 6,000 | 68,710 | |
Canon Marketing Japan, Inc. | 14,500 | 315,518 | |
Casio Computer Co. Ltd. | 61,300 | 635,672 | |
Cawachi Ltd. | 4,100 | 64,615 | |
CellSource Co. Ltd. (a) | 1,800 | 52,082 | |
Central Glass Co. Ltd. | 10,100 | 185,982 | |
Change, Inc. (a) | 10,300 | 143,571 | |
Chiyoda Corp. (a) | 49,300 | 163,003 | |
Chofu Seisakusho Co. Ltd. | 5,700 | 83,921 | |
Chudenko Corp. | 9,200 | 147,878 | |
Chugoku Electric Power Co., Inc. | 91,700 | 603,984 | |
Chugoku Marine Paints Ltd. | 10,700 | 78,465 | |
Ci Takiron Corp. | 12,400 | 52,834 | |
Citizen Watch Co. Ltd. | 84,300 | 318,157 | |
CKD Corp. | 16,100 | 208,490 | |
Coca-Cola West Co. Ltd. | 39,600 | 443,934 | |
COLOPL, Inc. | 18,400 | 90,687 | |
Colowide Co. Ltd. | 23,700 | 303,338 | |
Comforia Residential REIT, Inc. | 197 | 490,889 | |
COMSYS Holdings Corp. | 35,800 | 743,286 | |
Comture Corp. | 7,100 | 153,355 | |
CONEXIO Corp. | 4,900 | 54,994 | |
Cosmo Energy Holdings Co. Ltd. | 24,100 | 598,750 | |
CRE Logistics REIT, Inc. | 169 | 258,445 | |
Create Restaurants Holdings, Inc. | 36,710 | 229,580 | |
Create SD Holdings Co. Ltd. | 8,400 | 192,134 | |
Credit Saison Co. Ltd. | 46,800 | 527,130 | |
Curves Holdings Co. Ltd. | 16,300 | 95,543 | |
CYBERDYNE, Inc. (a) | 34,700 | 86,489 | |
Cybozu, Inc. | 7,500 | 74,116 | |
Dai-Dan Co. Ltd. | 4,000 | 65,231 | |
Daicel Chemical Industries Ltd. | 82,200 | 502,488 | |
Daido Steel Co. Ltd. | 8,200 | 233,904 | |
Daihen Corp. | 6,000 | 171,644 | |
Daiho Corp. | 3,200 | 109,547 | |
Daiichi Jitsugyo Co. Ltd. | 2,300 | 66,784 | |
Daiichikosho Co. Ltd. | 11,200 | 305,482 | |
Daiken Corp. | 3,100 | 50,120 | |
Daiki Aluminum Industry Co. Ltd. | 8,300 | 91,991 | |
Daikokutenbussan Co. Ltd. | 1,600 | 58,885 | |
Daio Paper Corp. | 26,700 | 318,380 | |
Daiseki Co. Ltd. | 13,680 | 492,017 | |
Daishi Hokuetsu Financial Group, Inc. | 11,600 | 224,371 | |
Daiwa Industries Ltd. | 8,900 | 75,908 | |
Daiwa Office Investment Corp. | 101 | 571,787 | |
Daiwa Securities Living Invest | 595 | 523,656 | |
Daiwabo Holdings Co. Ltd. | 27,400 | 354,549 | |
DCM Holdings Co. Ltd. | 38,600 | 318,710 | |
Demae-Can Co. Ltd. (a) | 14,600 | 60,088 | |
DeNA Co. Ltd. | 26,800 | 388,441 | |
Denka Co. Ltd. | 25,300 | 678,243 | |
Descente Ltd. (a) | 9,700 | 186,281 | |
Dexerials Corp. | 17,300 | 379,343 | |
Dic Corp. | 24,000 | 457,650 | |
Digital Arts, Inc. | 3,600 | 201,132 | |
Digital Garage, Inc. | 10,500 | 347,494 | |
Dip Corp. | 11,400 | 371,672 | |
Direct Marketing MiX, Inc. | 6,100 | 74,878 | |
Dmg Mori Co. Ltd. | 35,800 | 449,303 | |
Doshisha Co. Ltd. | 6,500 | 76,565 | |
Doutor Nichires Holdings Co., Ltd. | 9,400 | 108,035 | |
Dowa Holdings Co. Ltd. | 15,800 | 672,142 | |
DTS Corp. | 12,200 | 267,685 | |
Duskin Co. Ltd. | 12,100 | 258,113 | |
Dydo Group Holdings, Inc. | 2,900 | 112,434 | |
Eagle Industry Co. Ltd. | 7,900 | 62,946 | |
Earth Corp. | 4,900 | 207,084 | |
Ebara Corp. | 30,300 | 1,391,600 | |
EDION Corp. | 25,300 | 227,674 | |
eGuarantee, Inc. | 11,000 | 182,605 | |
Eiken Chemical Co. Ltd. | 9,600 | 127,145 | |
Eizo Corp. | 4,700 | 122,512 | |
Elan Corp. | 10,600 | 82,769 | |
Elecom Co. Ltd. | 14,500 | 173,874 | |
Electric Power Development Co. Ltd. | 46,600 | 638,551 | |
EM Systems Co. Ltd. | 11,200 | 79,626 | |
en japan, Inc. | 9,400 | 220,862 | |
eRex Co. Ltd. | 8,400 | 127,147 | |
ES-Con Japan Ltd. | 11,000 | 64,469 | |
ESPEC Corp. | 6,000 | 79,659 | |
euglena Co. Ltd. (a) | 31,200 | 206,426 | |
Exedy Corp. | 9,300 | 110,746 | |
Exeo Group, Inc. | 31,600 | 526,071 | |
Ezaki Glico Co. Ltd. | 15,300 | 438,630 | |
Fancl Corp. | 24,700 | 472,833 | |
FCC Co. Ltd. | 10,900 | 108,879 | |
Ferrotec Holdings Corp. | 13,100 | 240,220 | |
Financial Products Group Co. Ltd. | 19,700 | 120,558 | |
Food & Life Companies Ltd. | 35,000 | 830,572 | |
FP Corp. | 14,700 | 332,474 | |
Freee KK (a) | 10,400 | 300,074 | |
Frontier Real Estate Investment Corp. | 154 | 596,680 | |
Fuji Co. Ltd. | 8,400 | 144,410 | |
Fuji Corp. | 21,600 | 360,386 | |
Fuji Kyuko Co. Ltd. | 6,900 | 218,346 | |
Fuji Media Holdings, Inc. | 14,800 | 127,825 | |
Fuji Oil Holdings, Inc. | 15,200 | 215,716 | |
Fuji Seal International, Inc. | 13,300 | 176,637 | |
Fuji Soft ABC, Inc. | 7,600 | 405,059 | |
Fujicco Co. Ltd. | 5,400 | 84,381 | |
Fujikura Ltd. (a) | 74,700 | 353,368 | |
Fujimi, Inc. | 5,500 | 239,797 | |
Fujimori Kogyo Co. Ltd. | 4,600 | 126,877 | |
Fujio Food Group, Inc. | 5,000 | 51,790 | |
Fujitec Co. Ltd. | 20,200 | 435,351 | |
Fujitsu General Ltd. | 19,000 | 337,708 | |
Fujiya Co. Ltd. | 3,300 | 60,984 | |
Fukui Computer Holdings, Inc. | 2,600 | 64,899 | |
Fukuoka (REIT) Investment Fund | 201 | 251,383 | |
Fukuoka Financial Group, Inc. | 54,700 | 999,440 | |
Fukushima Industries Corp. | 3,800 | 110,060 | |
Fukuyama Transporting Co. Ltd. | 8,800 | 246,309 | |
Fullcast Holdings Co. Ltd. | 5,900 | 112,885 | |
Funai Soken Holdings, Inc. | 11,600 | 194,534 | |
Furukawa Co. Ltd. | 8,900 | 86,886 | |
Furukawa Electric Co. Ltd. | 21,200 | 344,268 | |
Fuso Chemical Co. Ltd. | 5,600 | 164,828 | |
Future Corp. | 13,700 | 200,733 | |
Fuyo General Lease Co. Ltd. | 5,300 | 286,756 | |
G-7 Holdings, Inc. | 6,300 | 79,114 | |
G-Tekt Corp. | 7,000 | 67,376 | |
Gakken Holdings Co. Ltd. | 8,400 | 57,133 | |
Genky DrugStores Co. Ltd. | 2,200 | 61,720 | |
Geo Holdings Corp. | 8,700 | 84,363 | |
giftee, Inc. (a) | 3,900 | 30,714 | |
Giken Ltd. | 5,300 | 145,433 | |
Global One Real Estate Investment Corp. | 303 | 259,730 | |
GLOBERIDE, Inc. | 4,900 | 98,872 | |
Glory Ltd. | 15,000 | 241,275 | |
GMO Financial Gate, Inc. | 400 | 39,235 | |
GMO Financial Holdings, Inc. | 11,200 | 69,474 | |
GMO GlobalSign Holdings KK | 1,400 | 59,022 | |
GMO Internet, Inc. | 21,200 | 423,686 | |
GNI Group Ltd. (a) | 13,500 | 118,436 | |
Goldcrest Co. Ltd. | 5,100 | 66,331 | |
GOLDWIN, Inc. | 7,500 | 376,182 | |
GREE, Inc. | 34,400 | 262,103 | |
GS Yuasa Corp. | 20,500 | 355,477 | |
GungHo Online Entertainment, Inc. | 15,000 | 306,035 | |
Gunma Bank Ltd. | 110,000 | 316,200 | |
Gunze Ltd. | 4,600 | 132,425 | |
H.I.S. Co. Ltd. (a)(b) | 13,600 | 231,882 | |
H.U. Group Holdings, Inc. | 16,300 | 363,204 | |
H2O Retailing Corp. | 27,700 | 181,194 | |
Halows Co. Ltd. | 3,000 | 71,697 | |
Hamakyorex Co. Ltd. | 4,800 | 107,637 | |
Hankyu REIT, Inc. | 197 | 223,874 | |
Hanwa Co. Ltd. | 10,700 | 261,546 | |
Harmonic Drive Systems, Inc. | 15,200 | 384,429 | |
Haseko Corp. | 81,300 | 890,807 | |
Hazama Ando Corp. | 51,800 | 359,899 | |
HEALIOS KK (a) | 7,200 | 40,948 | |
Heiwa Corp. | 17,400 | 261,619 | |
Heiwa Real Estate (REIT), Inc. | 283 | 324,180 | |
Heiwa Real Estate Co. Ltd. | 9,800 | 309,144 | |
Heiwado Co. Ltd. | 9,500 | 143,318 | |
Hennge K.K. (a) | 4,300 | 33,739 | |
Hiday Hidaka Corp. | 7,800 | 111,611 | |
Hioki EE Corp. | 2,900 | 173,954 | |
Hirata Corp. | 2,700 | 99,210 | |
Hirogin Holdings, Inc. | 88,700 | 437,040 | |
Hisamitsu Pharmaceutical Co., Inc. | 16,300 | 446,567 | |
Hitachi Transport System Ltd. | 13,400 | 879,570 | |
Hitachi Zosen Corp. | 51,000 | 275,208 | |
Hogy Medical Co. Ltd. | 7,200 | 179,806 | |
Hokkaido Electric Power Co., Inc. | 54,300 | 201,567 | |
Hokkoku Financial Holdings, Inc. | 6,600 | 190,394 | |
Hokuetsu Corp. | 38,600 | 197,749 | |
Hokuhoku Financial Group, Inc. | 37,500 | 253,758 | |
Hokuriku Electric Power Co., Inc. | 53,100 | 210,646 | |
Hokuto Corp. | 6,300 | 98,953 | |
Horiba Ltd. | 10,800 | 525,456 | |
Hoshino Resorts REIT, Inc. | 70 | 361,105 | |
Hosiden Corp. | 15,300 | 145,903 | |
Hosokawa Micron Corp. | 4,100 | 77,728 | |
House Foods Group, Inc. | 19,100 | 447,023 | |
Hulic (REIT), Inc. | 412 | 511,802 | |
Ichibanya Co. Ltd. | 4,500 | 167,205 | |
Ichigo Real Estate Investment Corp. | 382 | 245,211 | |
Ichigo, Inc. | 79,800 | 178,953 | |
Ichikoh Industries Ltd. | 11,300 | 32,663 | |
Idec Corp. | 8,900 | 157,095 | |
IDOM, Inc. | 18,600 | 93,199 | |
IHI Corp. | 41,800 | 947,806 | |
Iino Kaiun Kaisha Ltd. | 24,600 | 139,277 | |
Inaba Denki Sangyo Co. Ltd. | 15,100 | 296,148 | |
Inabata & Co. Ltd. | 14,000 | 229,092 | |
Inageya Co. Ltd. | 6,600 | 68,477 | |
Industrial & Infrastructure Fund Investment Corp. | 592 | 849,452 | |
Infocom Corp. | 7,300 | 124,434 | |
Infomart Corp. | 61,400 | 305,794 | |
Information Services Inter-Dentsu Ltd. | 7,200 | 206,771 | |
INFRONEER Holdings, Inc. | 68,016 | 495,432 | |
Insource Co. Ltd. | 6,700 | 114,110 | |
Internet Initiative Japan, Inc. | 16,200 | 505,623 | |
Invincible Investment Corp. | 1,942 | 633,242 | |
IR Japan Holdings Ltd. | 2,800 | 88,674 | |
Iriso Electronics Co. Ltd. | 6,200 | 144,876 | |
Isetan Mitsukoshi Holdings Ltd. | 107,300 | 796,335 | |
ITOCHU Advance Logistics Investment Corp. | 180 | 222,360 | |
Itochu Enex Co. Ltd. | 16,600 | 137,435 | |
Itochushokuhin Co. Ltd. | 1,600 | 61,092 | |
Itoham Yonekyu Holdings, Inc. | 47,000 | 236,553 | |
Iwatani Corp. | 14,800 | 588,845 | |
Iyo Bank Ltd. | 71,500 | 346,696 | |
Izumi Co. Ltd. | 10,200 | 221,683 | |
J-Oil Mills, Inc. | 5,800 | 70,902 | |
J. Front Retailing Co. Ltd. | 76,900 | 576,260 | |
JAC Recruitment Co. Ltd. | 4,700 | 66,151 | |
JACCS Co. Ltd. | 6,600 | 166,900 | |
JAFCO Co. Ltd. | 24,300 | 292,965 | |
Japan Airport Terminal Co. Ltd. (a) | 19,300 | 799,725 | |
Japan Aviation Electronics Industry Ltd. | 14,600 | 204,154 | |
Japan Display, Inc. (a) | 195,800 | 100,750 | |
Japan Elevator Service Holdings Co. Ltd. | 18,200 | 237,853 | |
Japan Excellent, Inc. | 384 | 376,774 | |
Japan Hotel REIT Investment Corp. | 1,422 | 722,215 | |
Japan Lifeline Co. Ltd. | 18,900 | 157,537 | |
Japan Logistics Fund, Inc. | 259 | 632,091 | |
Japan Material Co. Ltd. | 19,900 | 300,654 | |
Japan Medical Dynamic Marketing, Inc. | 4,600 | 56,039 | |
Japan Petroleum Exploration Co. Ltd. | 10,800 | 215,287 | |
Japan Prime Realty Investment Corp. | 259 | 785,744 | |
Japan Pulp & Paper Co. Ltd. | 3,300 | 96,652 | |
Japan Securities Finance Co. Ltd. | 28,800 | 208,031 | |
Japan Steel Works Ltd. | 18,800 | 529,119 | |
Japan Wool Textile Co. Ltd./The | 15,100 | 112,868 | |
JCR Pharmaceuticals Co. Ltd. | 20,500 | 380,989 | |
Jcu Corp. | 6,200 | 157,915 | |
JDC Corp. | 12,700 | 52,198 | |
JEOL Ltd. | 12,300 | 552,376 | |
JGC Corp. | 69,600 | 787,607 | |
JIG-SAW, Inc. (a) | 1,500 | 62,479 | |
JINS Holdings, Inc. | 4,200 | 138,425 | |
Jm Holdings Co. Ltd. | 4,000 | 50,056 | |
JMDC, Inc. (a) | 8,000 | 385,787 | |
Joshin Denki Co. Ltd. | 5,300 | 81,739 | |
Joyful Honda Co. Ltd. | 17,400 | 208,681 | |
JSP Corp. | 4,100 | 47,385 | |
JTEKT Corp. | 65,100 | 453,872 | |
JTOWER, Inc. (a) | 2,800 | 131,582 | |
Juroku Financial Group, Inc. | 9,000 | 151,175 | |
Justsystems Corp. | 10,200 | 443,326 | |
K's Holdings Corp. | 53,300 | 527,836 | |
Kadokawa Corp. | 29,300 | 734,492 | |
KAGA ELECTRONICS Co. Ltd. | 5,000 | 117,810 | |
Kagome Co. Ltd. | 24,000 | 600,625 | |
Kaken Pharmaceutical Co. Ltd. | 9,600 | 290,900 | |
Kameda Seika Co. Ltd. | 4,200 | 136,704 | |
Kamigumi Co. Ltd. | 32,800 | 556,908 | |
Kanamoto Co. Ltd. | 9,700 | 144,951 | |
Kandenko Co. Ltd. | 32,400 | 205,468 | |
Kaneka Corp. | 15,000 | 401,363 | |
Kanematsu Corp. | 24,000 | 248,043 | |
Kanematsu Electronics Ltd. | 3,600 | 107,571 | |
Kanto Denka Kogyo Co. Ltd. | 12,700 | 95,811 | |
Kappa Create Co. Ltd.(a) | 8,200 | 84,585 | |
Katakura Industries Co. Ltd. | 6,700 | 130,079 | |
Katitas Co. Ltd. | 16,100 | 375,562 | |
Kato Sangyo | 7,200 | 186,827 | |
Kawasaki Heavy Industries Ltd. | 45,300 | 805,561 | |
Kawasaki Kisen Kaisha Ltd. | 14,900 | 779,003 | |
KeePer Technical Laboratory Co. Ltd. | 4,500 | 90,882 | |
Keihan Electric Railway Co., Ltd. | 30,400 | 648,426 | |
Keihanshin Bldg Co. Ltd. | 9,000 | 93,666 | |
Keikyu Corp. | 70,200 | 707,090 | |
Keiyo Co. Ltd. | 11,300 | 79,753 | |
Kenedix Office Investment Corp. | 136 | 710,833 | |
Kenedix Residential Investment Corp. | 299 | 480,984 | |
Kenedix Retail REIT Corp. | 184 | 387,364 | |
Kewpie Corp. | 31,500 | 530,515 | |
Kfc Holdings Japan Ltd. | 4,600 | 100,796 | |
KH Neochem Co. Ltd. | 10,500 | 198,631 | |
Ki-Star Real Estate Co. Ltd. | 2,800 | 115,496 | |
Kinden Corp. | 38,900 | 460,947 | |
Kintetsu Department Store Co. Ltd. (a) | 2,600 | 51,389 | |
Kintetsu World Express, Inc. | 11,400 | 271,577 | |
Kisoji Co. Ltd. | 7,000 | 111,378 | |
Kissei Pharmaceutical Co. Ltd. | 8,200 | 162,263 | |
Kitanotatsujin Corp. | 22,300 | 29,345 | |
Kitz Corp. | 18,500 | 94,041 | |
Koa Corp. | 9,600 | 111,892 | |
Kobe Steel Ltd. | 106,300 | 460,847 | |
Kohnan Shoji Co. Ltd. | 7,700 | 222,994 | |
Kokuyo Co. Ltd. | 26,400 | 343,838 | |
KOMEDA Holdings Co. Ltd. | 14,600 | 251,514 | |
KOMERI Co. Ltd. | 9,600 | 202,782 | |
Konica Minolta, Inc. | 144,100 | 501,514 | |
Konishi Co. Ltd. | 9,000 | 105,654 | |
Konoike Transport Co. Ltd. | 8,100 | 71,896 | |
Koshidaka Holdings Co. Ltd. | 13,100 | 78,179 | |
Kotobuki Spirits Co. Ltd. | 5,900 | 310,559 | |
Kumagai Gumi Co. Ltd. | 11,100 | 231,644 | |
Kumiai Chemical Industry Co. Ltd. | 25,200 | 170,482 | |
Kura Sushi, Inc. (b) | 6,500 | 160,963 | |
Kuraray Co. Ltd. | 96,000 | 767,783 | |
Kureha Chemical Industry Co. Ltd. | 5,000 | 375,653 | |
Kusuri No Aoki Holdings Co. Ltd. | 5,000 | 221,521 | |
Kyb Corp. | 5,700 | 129,019 | |
Kyoei Steel Ltd. | 6,400 | 65,664 | |
Kyokuto Kaihatsu Kogyo Co. Ltd. | 9,400 | 94,769 | |
Kyorin Holdings, Inc. | 12,200 | 177,417 | |
Kyoritsu Maintenance Co. Ltd. | 9,300 | 338,662 | |
Kyudenko Corp. | 13,400 | 303,884 | |
Kyushu Electric Power Co., Inc. | 128,000 | 803,379 | |
Kyushu Financial Group, Inc. | 109,600 | 336,346 | |
Kyushu Railway Co. | 42,500 | 833,032 | |
LaSalle Logiport REIT | 567 | 767,096 | |
Leopalace21 Corp. (a) | 57,200 | 86,040 | |
LIFE Corp. | 4,700 | 107,216 | |
Lifenet Insurance Co. (a) | 15,400 | 62,342 | |
Link & Motivation, Inc. | 11,100 | 39,053 | |
Lintec Corp. | 13,300 | 247,747 | |
LITALICO, Inc. | 6,200 | 127,900 | |
M&A Capital Partners Co. Ltd. (a) | 4,500 | 139,774 | |
Mabuchi Motor Co. Ltd. | 15,300 | 408,640 | |
Macnica Fuji Electronics Holdings, Inc. | 15,200 | 315,140 | |
Maeda Kosen Co. Ltd. | 5,600 | 128,035 | |
Makino Milling Machine Co. Ltd. | 7,500 | 231,100 | |
Makuake, Inc. (a)(b) | 1,600 | 20,883 | |
Mandom Corp. | 11,400 | 113,347 | |
Mani, Inc. | 23,600 | 269,513 | |
Maruha Nichiro Corp. | 12,500 | 230,051 | |
Marui Group Co. Ltd. | 56,400 | 971,066 | |
Maruichi Steel Tube Ltd. | 17,800 | 379,894 | |
Maruwa Ceramic Co. Ltd. | 2,800 | 326,469 | |
Maruwa Unyu Kikan Co. Ltd. | 12,200 | 142,435 | |
Maruzen Showa Unyu Co. Ltd. | 3,900 | 95,197 | |
Matsuda Sangyo Co. Ltd. | 3,600 | 63,215 | |
Matsui Securities Co. Ltd. | 36,900 | 228,220 | |
MatsukiyoCocokara & Co. | 33,970 | 1,122,890 | |
Matsuya Co. Ltd. (a) | 8,700 | 47,723 | |
Matsuyafoods Holdings Co. Ltd. | 2,700 | 78,824 | |
Max Co. Ltd. | 7,500 | 91,492 | |
Maxell Ltd. | 14,300 | 127,509 | |
Maxvalu Tokai Co. Ltd. | 2,900 | 57,901 | |
MCJ Co. Ltd. | 20,900 | 136,702 | |
Mebuki Financial Group, Inc. | 314,000 | 632,237 | |
Media Do Co. Ltd. | 2,800 | 36,952 | |
Medical Data Vision Co. Ltd. | 8,200 | 61,355 | |
Medley, Inc. (a) | 6,600 | 121,901 | |
MedPeer, Inc. (a) | 4,100 | 93,850 | |
Megachips Corp. | 5,100 | 130,657 | |
Megmilk Snow Brand Co. Ltd. | 14,500 | 216,135 | |
Meidensha Corp. | 10,800 | 195,579 | |
Meiko Electronics Co. Ltd. | 6,300 | 166,608 | |
Meitec Corp. | 7,700 | 408,716 | |
Melco Holdings, Inc. | 1,800 | 54,949 | |
Menicon Co. Ltd. | 18,200 | 388,741 | |
Metawater Co. Ltd. | 6,900 | 114,079 | |
Micronics Japan Co. Ltd. | 8,800 | 102,988 | |
Midac Holdings Co. Ltd. | 2,500 | 40,308 | |
Mie Kotsu Group Holdings, Inc. | 15,600 | 55,168 | |
Milbon Co. Ltd. | 7,900 | 330,780 | |
Mimasu Semiconductor Industries Co. Ltd. | 5,100 | 91,372 | |
Mirai Corp. | 524 | 203,539 | |
Mirait Holdings Corp. | 29,100 | 407,797 | |
Miroku Jyoho Service Co., Ltd. | 5,500 | 55,850 | |
Mitani Sekisan Co. Ltd. | 3,200 | 127,535 | |
Mitsubishi Estate Logistics REIT Investment Corp. | 117 | 419,763 | |
Mitsubishi Logisnext Co. Ltd. | 8,400 | 49,288 | |
Mitsubishi Logistics Corp. | 16,600 | 382,589 | |
Mitsubishi Materials Corp. | 35,300 | 552,206 | |
Mitsubishi Motors Corp. of Japan (a) | 211,700 | 529,464 | |
Mitsubishi Pencil Co. Ltd. | 11,100 | 107,759 | |
Mitsubishi Research Institute, Inc. | 2,300 | 69,247 | |
Mitsubishi Shokuhin Co. Ltd. | 4,800 | 118,972 | |
Mitsuboshi Belting Ltd. | 7,200 | 110,287 | |
Mitsui Fudosan Logistics Park, Inc. | 163 | 698,850 | |
Mitsui High-Tec, Inc. | 6,300 | 544,229 | |
Mitsui Mining & Smelting Co. Ltd. | 18,100 | 457,670 | |
Mitsui Sugar Co. Ltd. | 5,200 | 77,338 | |
Mitsui-Soko Co. Ltd. | 5,900 | 109,683 | |
Mitsuuroko Group Holdings Co. Ltd. | 8,900 | 68,835 | |
mixi, Inc. | 13,600 | 233,954 | |
Mizuho Leasing Co. Ltd. | 8,500 | 197,036 | |
Mizuno Corp. | 5,500 | 90,511 | |
Mochida Pharmaceutical Co. Ltd. | 7,700 | 219,328 | |
Modec, Inc. | 6,200 | 58,132 | |
Monex Group, Inc. | 49,000 | 223,477 | |
Money Forward, Inc. (a) | 13,500 | 459,022 | |
Mori Hills REIT Investment Corp. | 484 | 548,923 | |
Mori Trust Hotel (REIT), Inc. | 102 | 101,207 | |
MORI TRUST Sogo (REIT), Inc. | 312 | 339,727 | |
Morinaga & Co. Ltd. | 12,000 | 372,105 | |
Morinaga Milk Industry Co. Ltd. | 11,900 | 479,234 | |
Morita Holdings Corp. | 9,600 | 92,136 | |
MOS Food Services, Inc. | 7,600 | 174,147 | |
Musashi Seimitsu Industry Co. Ltd. | 14,400 | 146,341 | |
Nabtesco Corp. | 34,400 | 784,582 | |
Nachi-Fujikoshi Corp. | 4,700 | 136,693 | |
Nafco Co. Ltd. | 4,300 | 55,577 | |
Nagaileben Co. Ltd. | 6,700 | 99,760 | |
Nagase & Co. Ltd. | 31,400 | 449,963 | |
Nagawa Co. Ltd. | 2,300 | 162,117 | |
Nagoya Railroad Co. Ltd. (a) | 59,400 | 954,032 | |
Nakanishi, Inc. | 22,300 | 364,494 | |
Nankai Electric Railway Co. Ltd. | 32,200 | 574,861 | |
NEC Networks & System Integration Corp. | 21,200 | 301,024 | |
Net One Systems Co. Ltd. | 27,300 | 651,455 | |
Nextage Co. Ltd. | 13,900 | 212,440 | |
NGK Spark Plug Co. Ltd. | 48,400 | 742,709 | |
NH Foods Ltd. | 26,200 | 827,408 | |
NHK Spring Co. Ltd. | 61,700 | 398,516 | |
Nichi-iko Pharmaceutical Co. Ltd. | 17,500 | 105,228 | |
Nichias Corp. | 18,200 | 326,862 | |
Nichicon Corp. | 14,800 | 134,012 | |
Nichiden Corp. | 4,500 | 74,979 | |
Nichiha Corp. | 7,600 | 137,405 | |
Nichirei Corp. | 34,100 | 626,093 | |
Nifco, Inc. | 25,500 | 538,403 | |
Nihon Chouzai Co. Ltd. | 3,600 | 35,023 | |
Nihon Kohden Corp. | 25,200 | 604,954 | |
Nihon Parkerizing Co. Ltd. | 25,100 | 177,536 | |
Nikkiso Co. Ltd. | 15,200 | 94,738 | |
Nikkon Holdings Co. Ltd. | 18,300 | 277,173 | |
Nikon Corp. | 96,200 | 1,080,982 | |
Nippn Corp. | 14,900 | 193,797 | |
Nippon Accommodations Fund, Inc. | 144 | 709,259 | |
Nippon Carbon Co. Ltd. | 3,300 | 106,018 | |
Nippon Ceramic Co. Ltd. | 6,000 | 109,543 | |
Nippon Densetsu Kogyo Co. Ltd. | 10,700 | 133,029 | |
Nippon Electric Glass Co. Ltd. | 25,300 | 509,300 | |
Nippon Gas Co. Ltd. | 33,700 | 478,215 | |
Nippon Kanzai Co. Ltd. | 5,800 | 124,630 | |
Nippon Kayaku Co. Ltd. | 42,000 | 366,044 | |
Nippon Koei Co. Ltd. | 3,600 | 80,357 | |
Nippon Light Metal Holding Co. Ltd. | 17,600 | 225,499 | |
Nippon Paper Industries Co. Ltd. | 31,200 | 247,817 | |
Nippon Parking Development Co. Ltd. | 60,200 | 71,209 | |
Nippon REIT Investment Corp. | 142 | 407,028 | |
Nippon Seiki Co. Ltd. | 14,500 | 104,966 | |
Nippon Sheet Glass Co. Ltd. (a) | 28,600 | 86,494 | |
Nippon Shokubai Co. Ltd. | 8,400 | 337,943 | |
Nippon Signal Co. Ltd. | 12,900 | 89,553 | |
Nippon Soda Co. Ltd. | 6,400 | 169,259 | |
Nippon Steel & Sumikin Bussan Corp. | 4,600 | 187,208 | |
Nippon Suisan Kaisha Co. Ltd. | 88,700 | 391,638 | |
Nippon Television Network Corp. | 16,600 | 159,330 | |
Nipro Corp. | 43,300 | 341,188 | |
Nishi-Nippon Financial Holdings, Inc. | 37,700 | 226,591 | |
Nishi-Nippon Railroad Co. Ltd. | 18,800 | 376,091 | |
Nishimatsu Construction Co. Ltd. | 10,500 | 309,134 | |
Nishimatsuya Chain Co. Ltd. | 12,100 | 148,506 | |
Nishio Rent All Co. Ltd. | 5,800 | 125,181 | |
Nissan Shatai Co. Ltd. | 19,900 | 86,787 | |
Nissei ASB Machine Co. Ltd. | 2,500 | 57,007 | |
Nissha Co. Ltd. | 12,000 | 126,653 | |
Nisshin Oillio Group Ltd. | 7,400 | 167,471 | |
Nisshinbo Holdings, Inc. | 45,200 | 338,189 | |
Nissin Electric Co. Ltd. | 15,300 | 163,139 | |
Nitta Corp. | 6,200 | 131,630 | |
Nittetsu Mining Co. Ltd. | 1,600 | 79,639 | |
Nitto Boseki Co. Ltd. | 7,600 | 147,374 | |
Nitto Kogyo Corp. | 8,100 | 95,371 | |
Nittoku Co. Ltd. | 4,300 | 64,200 | |
Noevir Holdings Co. Ltd. | 4,900 | 192,124 | |
NOF Corp. | 21,000 | 788,224 | |
Nohmi Bosai Ltd. | 6,700 | 98,672 | |
Nojima Co. Ltd. | 9,700 | 195,091 | |
NOK Corp. | 27,400 | 233,127 | |
NOMURA Co. Ltd. | 24,600 | 169,161 | |
Noritake Co. Ltd. | 2,800 | 88,919 | |
Noritsu Koki Co. Ltd. | 5,700 | 94,521 | |
Noritz Corp. | 8,000 | 92,645 | |
North Pacific Bank Ltd. | 81,800 | 155,105 | |
NS Solutions Corp. | 10,100 | 301,318 | |
Ns United Kaiun Kaisha Ltd. | 3,000 | 82,449 | |
NSD Co. Ltd. | 22,200 | 394,080 | |
NSK Ltd. | 121,800 | 674,009 | |
NTN Corp. (a) | 125,900 | 201,105 | |
Ntt Ud (REIT) Investment Corp. | 424 | 489,759 | |
Obara Group, Inc. | 3,300 | 73,854 | |
OBIC Business Consultants Ltd. | 9,500 | 341,448 | |
Ogaki Kyoritsu Bank Ltd. | 10,500 | 153,891 | |
Ohsho Food Service Corp. | 4,100 | 192,518 | |
Oiles Corp. | 6,500 | 74,682 | |
Oisix Ra Daichi, Inc. (a) | 7,800 | 160,289 | |
Okamoto Industries, Inc. | 3,300 | 97,163 | |
Okamura Corp. | 17,500 | 160,824 | |
Okasan Securities Group, Inc. | 46,100 | 123,426 | |
Oki Electric Industry Co. Ltd. | 26,100 | 169,070 | |
Okinawa Cellular Telephone Co. | 3,900 | 150,077 | |
Okinawa Financial Group, Inc. | 6,500 | 111,274 | |
Okuma Corp. | 7,400 | 264,487 | |
Okumura Corp. | 10,000 | 236,068 | |
One (REIT), Inc. | 76 | 161,331 | |
Onward Holdings Co. Ltd. | 30,000 | 56,029 | |
Open Door, Inc. (a) | 3,600 | 52,012 | |
Optex Group Co. Ltd. | 10,100 | 132,879 | |
Optim Corp. (a) | 5,400 | 35,766 | |
Optorun Co. Ltd. | 8,400 | 124,655 | |
Organo Corp. | 2,000 | 137,231 | |
Orient Corp. | 162,700 | 156,174 | |
Oro Co. Ltd. | 2,200 | 34,314 | |
Osaka Organic Chemical Industry Ltd. | 4,600 | 99,197 | |
Osaka Soda Co. Ltd. | 3,800 | 93,359 | |
OSG Corp. | 26,300 | 330,393 | |
Outsourcing, Inc. | 35,800 | 355,047 | |
Pacific Industrial Co. Ltd. | 12,600 | 97,692 | |
Pal Group Holdings Co. Ltd. | 6,600 | 73,657 | |
PALTAC Corp. | 9,000 | 328,032 | |
Paramount Bed Holdings Co. Ltd. | 11,700 | 194,863 | |
Park24 Co. Ltd. (a) | 40,600 | 578,165 | |
Pasona Group, Inc. | 6,600 | 104,648 | |
Penta-Ocean Construction Co. Ltd. | 85,800 | 419,818 | |
PeptiDream, Inc. (a) | 30,800 | 496,769 | |
Pharma Foods International Co. Ltd. | 6,900 | 90,469 | |
Pigeon Corp. | 36,500 | 622,509 | |
Pilot Corp. | 8,600 | 349,409 | |
Piolax, Inc. | 8,800 | 102,665 | |
PKSHA Technology, Inc. (a) | 4,900 | 69,864 | |
Plaid, Inc. (a) | 4,800 | 42,994 | |
Plenus Co. Ltd. | 7,000 | 102,823 | |
Plus Alpha Consulting Co. Ltd. | 3,800 | 67,315 | |
Premier Anti-Aging Co. Ltd. (a) | 1,000 | 28,758 | |
Pressance Corp. | 6,500 | 78,031 | |
Prestige International, Inc. | 30,300 | 145,608 | |
Prima Meat Packers Ltd. | 8,000 | 131,185 | |
Proto Corp. | 7,300 | 57,342 | |
Qol Holdings Co. Ltd. | 7,400 | 62,287 | |
Raito Kogyo Co. Ltd. | 13,700 | 204,550 | |
Raiznext Corp. | 8,600 | 71,302 | |
Raksul, Inc. (a) | 7,300 | 150,838 | |
Rakus Co. Ltd. | 22,900 | 280,657 | |
Relia, Inc. | 11,600 | 95,360 | |
Relo Group, Inc. | 36,200 | 517,102 | |
Rengo Co. Ltd. | 55,600 | 329,183 | |
RENOVA, Inc. (a) | 11,100 | 136,762 | |
Resorttrust, Inc. | 25,700 | 432,365 | |
Restar Holdings Corp. | 5,600 | 86,484 | |
Retail Partners Co. Ltd. | 6,600 | 57,498 | |
Ricoh Leasing Co. Ltd. | 4,600 | 120,489 | |
Riken Keiki Co. Ltd. | 4,100 | 129,053 | |
Riken Vitamin Co. Ltd. | 6,400 | 84,131 | |
Ringer Hut Co. Ltd. | 6,600 | 114,165 | |
Riso Kagaku Corp. | 6,400 | 120,172 | |
Riso Kyoiku Co. Ltd. | 34,700 | 103,026 | |
Rohto Pharmaceutical Co. Ltd. | 30,100 | 803,808 | |
Roland Corp. | 4,000 | 138,040 | |
Rorze Corp. | 3,400 | 297,021 | |
Round One Corp. | 18,100 | 201,458 | |
Royal Holdings Co. Ltd. | 8,600 | 137,733 | |
RS Technologies Co. Ltd. | 2,200 | 101,303 | |
Ryosan Co. Ltd. | 6,200 | 110,300 | |
Ryoyo Electro Corp. | 4,200 | 65,900 | |
S Foods, Inc. | 5,600 | 130,283 | |
S-Pool, Inc. | 19,900 | 198,853 | |
Saibu Gas Co. Ltd. | 6,500 | 106,684 | |
Saizeriya Co. Ltd. | 9,100 | 166,892 | |
Sakai Moving Service Co. Ltd. | 3,300 | 112,608 | |
Sakata INX Corp. | 12,800 | 96,798 | |
Sakata Seed Corp. | 9,000 | 303,046 | |
SAMTY Co. Ltd. | 11,200 | 180,894 | |
Samty Residential Investment Corp. | 109 | 110,151 | |
San-A Co. Ltd. | 5,700 | 178,937 | |
San-Ai Obbli Co. Ltd. | 17,900 | 131,405 | |
SanBio Co. Ltd. (a)(b) | 9,000 | 76,554 | |
Sangetsu Corp. | 14,300 | 171,315 | |
Sanken Electric Co. Ltd. | 7,200 | 265,906 | |
Sanki Engineering Co. Ltd. | 12,300 | 139,330 | |
Sankyo Co. Ltd. (Gunma) | 14,300 | 411,483 | |
Sankyu, Inc. | 16,600 | 506,118 | |
Sanrio Co. Ltd. | 15,500 | 325,127 | |
Sansan, Inc. (a) | 19,700 | 187,951 | |
Sanwa Holdings Corp. | 58,900 | 536,594 | |
Sanyo Chemical Industries Ltd. | 3,700 | 141,490 | |
Sanyo Denki Co. Ltd. | 2,800 | 120,270 | |
Sanyo Special Steel Co. Ltd. | 6,000 | 91,790 | |
Sapporo Holdings Ltd. | 20,200 | 420,445 | |
Sato Holding Corp. | 8,200 | 112,751 | |
Sawai Group Holdings Co. Ltd. | 12,600 | 422,663 | |
SB Technology Corp. | 3,100 | 53,399 | |
SBS Holdings, Inc. | 5,600 | 129,946 | |
Screen Holdings Co. Ltd. | 12,100 | 988,924 | |
Sega Sammy Holdings, Inc. | 54,900 | 972,807 | |
Seibu Holdings, Inc. (a) | 71,500 | 710,357 | |
Seikagaku Corp. | 11,600 | 75,324 | |
Seiko Holdings Corp. | 7,900 | 135,255 | |
Seino Holdings Co. Ltd. | 39,300 | 321,040 | |
Seiren Co. Ltd. | 13,300 | 210,797 | |
Sekisui House (REIT), Inc. | 1,335 | 781,178 | |
Sekisui Jushi Corp. | 7,500 | 102,550 | |
SENKO Co. Ltd. | 33,800 | 228,586 | |
Septeni Holdings Co. Ltd. | 23,600 | 119,464 | |
Seria Co. Ltd. | 14,400 | 281,605 | |
Seven Bank Ltd. | 186,000 | 347,693 | |
Shibaura Machine Co. Ltd. | 6,100 | 145,711 | |
Shibuya Corp. | 4,400 | 79,250 | |
SHIFT, Inc. (a) | 3,700 | 701,150 | |
Shiga Bank Ltd. | 11,700 | 220,013 | |
Shikoku Chemicals Corp. | 10,400 | 103,677 | |
Shikoku Electric Power Co., Inc. | 49,300 | 283,451 | |
Shima Seiki Manufacturing Ltd. | 7,900 | 112,713 | |
Shimamura Co. Ltd. | 7,000 | 620,819 | |
Shin Nippon Air Technologies Co. Ltd. | 3,100 | 42,840 | |
Shin-Etsu Polymer Co. Ltd. | 13,000 | 102,252 | |
Shinko Electric Industries Co. Ltd. | 21,500 | 926,760 | |
Shinmaywa Industries Ltd. | 16,500 | 115,736 | |
Shinnihon Corp. | 7,500 | 41,166 | |
Shinsei Bank Ltd. | 20,400 | 357,733 | |
Ship Healthcare Holdings, Inc. | 24,100 | 402,565 | |
Shizuoka Gas Co. Ltd. | 14,400 | 103,222 | |
SHO-BOND Holdings Co. Ltd. | 12,600 | 529,578 | |
Shochiku Co. Ltd. (a) | 2,900 | 295,976 | |
Shoei Co. Ltd. | 7,200 | 267,115 | |
Shoei Foods Corp. | 3,400 | 102,116 | |
Showa Denko K.K. | 55,773 | 1,085,252 | |
Showa Sangyo Co. Ltd. | 5,400 | 109,237 | |
Siix Corp. | 8,700 | 66,458 | |
Sinko Industries Ltd. | 5,600 | 70,385 | |
SKY Perfect JSAT Holdings, Inc. | 42,200 | 136,703 | |
Skylark Holdings Co. Ltd. | 72,300 | 857,889 | |
SMS Co., Ltd. | 22,000 | 516,312 | |
Snow Peak, Inc. (b) | 8,400 | 153,979 | |
Sodick Co. Ltd. | 13,900 | 77,776 | |
Sojitz Corp. | 75,460 | 1,150,641 | |
Solasto Corp. | 16,500 | 114,108 | |
Sosei Group Corp. (a) | 23,100 | 225,577 | |
SOSiLA Logistics REIT, Inc. | 203 | 246,755 | |
Sotetsu Holdings, Inc. | 23,200 | 397,720 | |
Sparx Group Co. Ltd. | 26,600 | 52,455 | |
SRE Holdings Corp. (a) | 2,000 | 41,258 | |
Star Asia Investment Corp. | 479 | 218,582 | |
Star Micronics Co. Ltd. | 10,600 | 118,821 | |
Starts Corp., Inc. | 9,400 | 174,222 | |
Starts Proceed Investment Corp. | 68 | 121,822 | |
Strike Co. Ltd. (a) | 2,400 | 73,086 | |
Sugi Holdings Co. Ltd. | 11,000 | 471,465 | |
Sumitomo Bakelite Co. Ltd. | 11,000 | 360,923 | |
Sumitomo Densetsu Co. Ltd. | 5,100 | 87,273 | |
Sumitomo Forestry Co. Ltd. | 44,500 | 680,799 | |
Sumitomo Heavy Industries Ltd. | 35,100 | 742,765 | |
Sumitomo Mitsui Construction Co. Ltd. | 46,200 | 149,898 | |
Sumitomo Osaka Cement Co. Ltd. | 10,700 | 299,199 | |
Sumitomo Riko Co. Ltd. | 11,700 | 50,010 | |
Sumitomo Rubber Industries Ltd. | 54,000 | 468,060 | |
Sun Corp. | 4,200 | 49,813 | |
Sun Frontier Fudousan Co. Ltd. | 8,500 | 71,028 | |
Sundrug Co. Ltd. | 22,800 | 530,832 | |
Suzuken Co. Ltd. | 21,200 | 625,766 | |
Systena Corp. | 85,400 | 268,434 | |
T Hasegawa Co. Ltd. | 10,100 | 196,690 | |
T-Gaia Corp. | 6,200 | 78,584 | |
Tadano Ltd. | 30,600 | 217,376 | |
Taihei Dengyo Kaisha Ltd. | 3,500 | 72,709 | |
Taiheiyo Cement Corp. | 34,900 | 564,667 | |
Taikisha Ltd. | 7,800 | 192,469 | |
Taiyo Holdings Co. Ltd. | 11,000 | 262,429 | |
Taiyo Yuden Co. Ltd. | 37,200 | 1,461,493 | |
Takamatsu Construction Group C | 4,900 | 81,613 | |
Takara Bio, Inc. | 15,200 | 244,476 | |
Takara Holdings, Inc. | 44,700 | 376,503 | |
Takara Leben Real Estate Investment Corp. | 172 | 160,305 | |
Takara Standard Co. Ltd. | 9,300 | 92,914 | |
Takasago International Corp. | 3,800 | 76,633 | |
Takasago Thermal Engineering Co. Ltd. | 14,400 | 188,361 | |
Takashimaya Co. Ltd. | 44,900 | 409,544 | |
Takeuchi Manufacturing Co. Ltd. | 10,800 | 198,050 | |
Taki Chemical Co. Ltd. | 1,600 | 63,153 | |
Takuma Co. Ltd. | 19,600 | 219,655 | |
Tama Home Co. Ltd. (b) | 4,600 | 89,762 | |
Tamron Co. Ltd. | 4,700 | 82,853 | |
Tamura Corp. | 22,200 | 93,818 | |
Tbs Holdings, Inc. | 11,000 | 144,350 | |
Techmatrix Corp. | 11,200 | 172,813 | |
TechnoPro Holdings, Inc. | 34,400 | 876,102 | |
Teijin Ltd. | 56,700 | 605,912 | |
Teikoku Sen-I Co. Ltd. | 5,600 | 68,300 | |
Tenma Corp. | 4,600 | 78,297 | |
The Awa Bank Ltd. | 10,200 | 168,355 | |
The Chugoku Bank Ltd. | 46,200 | 339,734 | |
The Hachijuni Bank Ltd. | 112,800 | 371,985 | |
The Hyakugo Bank Ltd. | 64,100 | 169,644 | |
The Keiyo Bank Ltd. | 30,600 | 116,612 | |
The Kiyo Bank Ltd. | 18,300 | 200,729 | |
The Monogatari Corp. | 3,100 | 129,270 | |
The Musashino Bank Ltd. | 8,500 | 116,265 | |
The Nanto Bank Ltd. | 8,300 | 129,858 | |
The Nippon Road Co. Ltd. | 2,000 | 111,491 | |
The Okinawa Electric Power Co., Inc. | 13,500 | 134,384 | |
The Pack Corp. | 4,100 | 75,038 | |
The San-In Godo Bank Ltd. | 44,500 | 220,932 | |
The Sumitomo Warehouse Co. Ltd. | 17,000 | 285,288 | |
The Suruga Bank Ltd. | 51,200 | 160,632 | |
The Toho Bank Ltd. | 55,600 | 86,619 | |
THK Co. Ltd. | 37,100 | 735,190 | |
TKC Corp. | 9,300 | 244,283 | |
TKP Corp. (a) | 4,700 | 68,353 | |
TOA Corp. | 4,300 | 93,992 | |
Toagosei Co. Ltd. | 30,400 | 249,716 | |
Toc Co. Ltd. | 10,600 | 54,597 | |
Tocalo Co. Ltd. | 17,900 | 178,727 | |
Toda Corp. | 71,300 | 409,656 | |
Toei Co. Ltd. | 1,900 | 252,004 | |
Toenec Corp. | 2,600 | 66,540 | |
Toho Gas Co. Ltd. | 23,500 | 551,288 | |
Toho Holdings Co. Ltd. | 17,400 | 282,450 | |
Toho Titanium Co. Ltd. | 10,100 | 115,425 | |
Tohoku Electric Power Co., Inc. | 142,800 | 794,331 | |
Tokai Carbon Co. Ltd. | 60,300 | 498,612 | |
Tokai Corp. | 6,400 | 84,798 | |
TOKAI Holdings Corp. | 30,800 | 207,025 | |
Tokai Rika Co. Ltd. | 16,400 | 172,794 | |
Tokai Tokyo Financial Holdings | 61,800 | 183,334 | |
Token Corp. | 2,200 | 146,444 | |
Tokushu Tokai Paper Co. Ltd. | 2,600 | 69,058 | |
Tokuyama Corp. | 19,300 | 256,693 | |
Tokyo Ohka Kogyo Co. Ltd. | 10,000 | 543,363 | |
Tokyo Seimitsu Co. Ltd. | 11,900 | 409,370 | |
Tokyo Steel Manufacturing Co. Ltd. | 26,900 | 278,415 | |
Tokyo Tatemono Co. Ltd. | 59,800 | 843,117 | |
Tokyotokeiba Co. Ltd. | 5,000 | 170,142 | |
Tokyu Construction Co. Ltd. | 25,300 | 117,331 | |
Tokyu Fudosan Holdings Corp. | 194,400 | 1,011,593 | |
Tokyu REIT, Inc. | 262 | 367,283 | |
TOMONY Holdings, Inc. | 43,800 | 110,781 | |
Tomy Co. Ltd. | 25,900 | 245,728 | |
Topcon Corp. | 32,400 | 414,693 | |
Topre Corp. | 10,300 | 87,329 | |
TORIDOLL Holdings Corp. | 13,800 | 250,275 | |
Torii Pharmaceutical Co. Ltd. | 4,100 | 103,036 | |
Tosei Corp. | 9,200 | 77,412 | |
Toshiba Tec Corp. | 8,200 | 277,958 | |
Tosho Co. Ltd. | 4,800 | 64,220 | |
Totetsu Kogyo Co. Ltd. | 7,400 | 133,768 | |
Towa Pharmaceutical Co. Ltd. | 8,100 | 172,301 | |
Toyo Construction Co. Ltd. | 22,300 | 160,456 | |
Toyo Gosei Co. Ltd. | 1,700 | 125,041 | |
Toyo Ink South Carolina Holdings Co. Ltd. | 11,500 | 171,240 | |
Toyo Seikan Group Holdings Ltd. | 44,800 | 484,574 | |
Toyo Tanso Co. Ltd. | 4,000 | 86,919 | |
Toyo Tire Corp. | 34,100 | 391,125 | |
Toyobo Co. Ltd. | 25,300 | 208,007 | |
Toyoda Gosei Co. Ltd. | 20,600 | 299,977 | |
Toyota Boshoku Corp. | 20,800 | 331,499 | |
TPR Co. Ltd. | 7,500 | 71,881 | |
Trancom Co. Ltd. | 2,300 | 119,840 | |
Transcosmos, Inc. | 7,700 | 181,538 | |
TRE Holdings Corp. | 13,300 | 212,785 | |
Tri Chemical Laboratories, Inc. | 8,200 | 154,007 | |
Trusco Nakayama Corp. | 14,600 | 227,679 | |
TS tech Co. Ltd. | 28,000 | 292,198 | |
Tsubaki Nakashima Co. Ltd. | 13,100 | 94,152 | |
Tsubakimoto Chain Co. | 8,000 | 182,677 | |
Tsugami Corp. | 12,100 | 112,681 | |
Tsukishima Kikai Co. Ltd. | 7,200 | 56,870 | |
Tsumura & Co. | 18,200 | 447,808 | |
TV Asahi Corp. | 6,800 | 77,672 | |
Uacj Corp. (a) | 9,900 | 165,627 | |
Ube Corp. | 32,200 | 499,255 | |
Uchida Yoko Co. Ltd. | 2,300 | 86,801 | |
Ulvac, Inc. | 14,100 | 552,507 | |
Union Tool Co. | 2,800 | 80,430 | |
United Arrows Ltd. | 6,700 | 90,075 | |
United Super Markets Holdings, Inc. | 16,600 | 140,447 | |
United Urban Investment Corp. | 940 | 1,028,487 | |
Universal Entertainment Corp. (a) | 7,600 | 135,981 | |
USEN-NEXT HOLDINGS Co. Ltd. | 4,700 | 77,144 | |
Ushio, Inc. | 30,500 | 395,450 | |
UT Group Co. Ltd. | 8,300 | 186,631 | |
Uzabase, Inc. (a) | 6,400 | 37,248 | |
Valor Holdings Co. Ltd. | 11,100 | 174,873 | |
ValueCommerce Co. Ltd. | 4,900 | 143,185 | |
Vector, Inc. | 9,100 | 87,027 | |
Vision, Inc. (a) | 9,300 | 92,710 | |
Visional, Inc. (a) | 4,000 | 220,127 | |
VT Holdings Co. Ltd. | 22,600 | 80,006 | |
Wacoal Holdings Corp. | 12,500 | 178,047 | |
Wacom Co. Ltd. | 47,300 | 341,988 | |
Wakita & Co. Ltd. | 10,600 | 88,203 | |
WDB Holdings Co. Ltd. | 2,800 | 58,836 | |
WealthNavi, Inc. (a)(b) | 7,200 | 93,646 | |
Weathernews, Inc. | 1,700 | 88,651 | |
West Holdings Corp. | 7,300 | 287,947 | |
World Holdings Co. Ltd. | 2,500 | 47,073 | |
Xebio Holdings Co. Ltd. | 7,500 | 52,973 | |
YA-MAN Ltd. | 9,400 | 89,595 | |
YAMABIKO Corp. | 10,400 | 112,915 | |
Yamada Holdings Co. Ltd. | 215,200 | 642,605 | |
Yamaguchi Financial Group, Inc. | 62,500 | 342,698 | |
Yamato Kogyo Co. Ltd. | 12,800 | 413,097 | |
Yamazaki Baking Co. Ltd. | 38,200 | 472,234 | |
Yamazen Co. Ltd. | 18,000 | 132,935 | |
Yaoko Co. Ltd. | 5,700 | 301,545 | |
Yellow Hat Ltd. | 10,200 | 127,419 | |
Yodogawa Steel Works Ltd. | 6,000 | 113,571 | |
Yokogawa Bridge Holdings Corp. | 10,100 | 148,122 | |
Yokohama Rubber Co. Ltd. | 37,500 | 502,073 | |
Yokorei Co. Ltd. | 14,000 | 93,570 | |
Yokowo Co. Ltd. | 5,300 | 104,006 | |
YONEX Co. Ltd. | 17,700 | 115,312 | |
Yoshinoya Holdings Co. Ltd. | 20,600 | 374,786 | |
Yuasa Trading Co. Ltd. | 5,100 | 113,789 | |
Yukiguni Maitake Co. Ltd. | 6,500 | 52,445 | |
Yurtec Corp. | 11,400 | 60,214 | |
Zenkoku Hosho Co. Ltd. | 16,300 | 572,067 | |
Zenrin Co. Ltd. | 9,900 | 72,003 | |
Zensho Holdings Co. Ltd. | 29,400 | 693,317 | |
Zeon Corp. | 41,100 | 437,664 | |
ZERIA Pharmaceutical Co. Ltd. | 7,900 | 120,877 | |
Zojirushi Thermos | 10,300 | 108,918 | |
Zuken, Inc. | 4,400 | 101,875 | |
TOTAL JAPAN | 225,163,463 | ||
Liechtenstein - 0.0% | |||
Implantica AG SDR (a) | 6,925 | 26,628 | |
Liechtensteinische Landesbank AG | 3,896 | 215,439 | |
TOTAL LIECHTENSTEIN | 242,067 | ||
Luxembourg - 0.8% | |||
ADLER Group SA (b)(c) | 24,121 | 183,743 | |
Aperam SA | 15,261 | 589,036 | |
B&M European Value Retail SA | 285,651 | 1,750,209 | |
B&S Group SARL (c) | 9,351 | 68,842 | |
Grand City Properties SA | 33,542 | 592,186 | |
Millicom International Cellular SA (depository receipt) (a)(b) | 32,112 | 723,957 | |
NeoGames SA (a) | 3,222 | 42,112 | |
SES SA (France) (depositary receipt) | 121,078 | 1,083,348 | |
Shurgard Self Storage Europe SARL | 8,440 | 488,394 | |
Solutions 30 SE (a)(b) | 27,042 | 156,816 | |
Stabilus Se | 7,820 | 368,333 | |
Subsea 7 SA | 72,219 | 591,928 | |
TOTAL LUXEMBOURG | 6,638,904 | ||
Malta - 0.1% | |||
Kambi Group PLC (a) | 7,805 | 124,328 | |
Kindred Group PLC (depositary receipt) | 72,648 | 636,933 | |
Media and Games Invest PLC (a)(b) | 28,383 | 91,332 | |
TOTAL MALTA | 852,593 | ||
Marshall Islands - 0.0% | |||
Atlas Corp. (b) | 27,329 | 337,786 | |
Mauritius - 0.1% | |||
Golden Agri-Resources Ltd. | 2,027,700 | 473,745 | |
Netherlands - 2.3% | |||
Aalberts Industries NV | 31,590 | 1,535,030 | |
Accell Group NV (a) | 8,051 | 486,353 | |
Alfen Beheer BV (a)(c) | 6,522 | 586,546 | |
AMG Advanced Metallurgical Group NV | 9,750 | 381,244 | |
Arcadis NV | 23,010 | 960,063 | |
ASR Nederland NV | 43,817 | 1,991,424 | |
Basic-Fit NV (a)(c) | 15,639 | 655,230 | |
BE Semiconductor Industries NV | 21,182 | 1,291,226 | |
Boskalis Westminster | 24,717 | 858,429 | |
Brunel International NV | 6,397 | 74,330 | |
Cementir SpA | 15,077 | 104,953 | |
CM.com NV (a) | 3,642 | 60,533 | |
Corbion NV | 18,887 | 654,817 | |
COSMO Pharmaceuticals NV (a) | 2,796 | 159,902 | |
Eurocommercial Properties NV | 13,304 | 321,903 | |
Fastned BV unit(a)(b) | 1,338 | 41,837 | |
Flow Traders BV (c) | 10,289 | 335,893 | |
ForFarmers NV | 11,507 | 35,303 | |
Fugro NV (Certificaten Van Aandelen) (a) | 32,592 | 399,263 | |
Intertrust NV (a)(c) | 28,586 | 589,877 | |
Koninklijke BAM Groep NV (a) | 83,883 | 232,175 | |
Koninklijke Vopak NV | 21,843 | 587,352 | |
Meltwater Holding BV (a) | 41,977 | 55,248 | |
MFE-MediaForEurope NV | 91,659 | 84,414 | |
MFE-MediaForEurope NV Class A (a)(b) | 96,042 | 58,645 | |
NSI NV | 6,230 | 243,697 | |
NSI NV rights (a)(d) | 6,230 | 7,361 | |
OCI NV (a) | 29,946 | 1,134,729 | |
Pharming Group NV (a)(b) | 201,320 | 164,839 | |
PostNL NV | 155,165 | 508,439 | |
PostNL NV rights (a)(d) | 155,165 | 52,381 | |
RHI Magnesita NV | 8,903 | 264,873 | |
SBM Offshore NV | 48,189 | 698,314 | |
Sif Holdings NV | 4,373 | 49,777 | |
Signify NV (c) | 40,711 | 1,722,384 | |
Sligro Food Group NV (a) | 7,692 | 180,541 | |
Technip Energies NV | 34,068 | 413,989 | |
TKH Group NV (depositary receipt) | 13,001 | 637,572 | |
TomTom Group BV (a) | 20,910 | 180,529 | |
Van Lanschot NV (Bearer) | 9,825 | 255,858 | |
VastNed Retail NV | 3,613 | 91,830 | |
Wereldhave NV | 10,813 | 176,362 | |
TOTAL NETHERLANDS | 19,325,465 | ||
New Zealand - 1.0% | |||
Air New Zealand Ltd. (a) | 177,225 | 100,581 | |
Air New Zealand Ltd. rights 5/2/22 (a) | 177,225 | 81,236 | |
Argosy Property Ltd. | 265,661 | 222,577 | |
Chorus Ltd. | 143,568 | 681,121 | |
Contact Energy Ltd. | 246,999 | 1,297,638 | |
Fletcher Building Ltd. | 246,222 | 980,830 | |
Genesis Energy Ltd. | 170,716 | 315,272 | |
Goodman Property Trust | 356,206 | 518,525 | |
Infratil Ltd. | 229,396 | 1,241,409 | |
Kiwi Property Group Ltd. | 495,443 | 337,919 | |
Oceania Healthcare Ltd. | 223,664 | 148,434 | |
Precinct Properties New Zealand Ltd. | 429,403 | 419,633 | |
Pushpay Holdings Ltd. (a) | 305,611 | 257,758 | |
SKYCITY Entertainment Group Ltd. | 240,077 | 448,500 | |
Summerset Group Holdings Ltd. | 69,470 | 523,246 | |
Synlait Milk Ltd. (a) | 34,007 | 77,528 | |
The a2 Milk Co. Ltd. (a) | 236,172 | 748,356 | |
Z Energy Ltd. | 164,253 | 400,838 | |
TOTAL NEW ZEALAND | 8,801,401 | ||
Norway - 2.2% | |||
Aker ASA (A Shares) | 8,212 | 669,367 | |
Aker Carbon Capture A/S (a) | 85,815 | 173,366 | |
Aker Horizons Holding ASA (a)(b) | 39,790 | 81,223 | |
Aker Solutions ASA | 77,664 | 268,357 | |
Atea ASA | 26,533 | 316,159 | |
Atlantic Sapphire A/S (a)(b) | 22,978 | 63,965 | |
Austevoll Seafood ASA | 28,803 | 456,674 | |
Bonheur A/S | 6,039 | 224,571 | |
Borregaard ASA | 29,988 | 572,017 | |
Crayon Group Holding A/S (a)(c) | 22,501 | 330,977 | |
DNO ASA (A Shares) | 138,586 | 210,089 | |
Elkem ASA (c) | 90,820 | 377,169 | |
Elmera Group ASA (c) | 30,643 | 69,152 | |
Elopak ASA | 38,208 | 56,908 | |
Entra ASA (c) | 20,117 | 331,683 | |
Europris ASA (c) | 50,072 | 254,429 | |
Grieg Seafood ASA | 16,118 | 240,126 | |
Hexagon Composites ASA (a) | 34,983 | 138,278 | |
Hexagon Purus Holding A/S (a) | 18,802 | 71,160 | |
Kahoot! A/S (a) | 84,600 | 203,927 | |
Kongsberg Gruppen ASA | 28,424 | 1,220,884 | |
Leroy Seafood Group ASA | 94,739 | 889,153 | |
LINK Mobility Group Holding ASA (a) | 55,337 | 89,414 | |
MPC Container Ships ASA | 84,099 | 250,319 | |
NEL ASA (a)(b) | 460,968 | 655,068 | |
Nordic VLSI ASA (a) | 55,045 | 1,094,363 | |
Norway Royal Salmon ASA | 3,477 | 91,190 | |
Norwegian Air Shuttle A/S (a) | 190,117 | 265,344 | |
Nykode Therapeutics A/S (a) | 40,690 | 159,016 | |
Pexip Holding ASA (a) | 23,058 | 50,569 | |
Protector Forsikring ASA | 18,204 | 205,418 | |
Quantafuel ASA (a)(b) | 36,401 | 60,138 | |
REC Silicon ASA (a) | 87,249 | 150,143 | |
Salmar ASA | 18,725 | 1,532,262 | |
Scatec Solar AS (c) | 37,604 | 454,506 | |
Selvaag Bolig ASA | 13,817 | 65,276 | |
Sparebank 1 Oestlandet | 12,789 | 187,143 | |
Sparebank 1 Sr Bank ASA (primary capital certificate) | 56,515 | 719,648 | |
Sparebanken Midt-Norge | 40,964 | 574,007 | |
Sparebanken Nord-Norge | 30,071 | 320,057 | |
Storebrand ASA (A Shares) | 149,809 | 1,301,270 | |
TGS ASA | 37,022 | 571,130 | |
Tomra Systems ASA | 37,563 | 1,477,181 | |
Veidekke ASA | 34,090 | 441,419 | |
Volue A/S (a) | 15,851 | 67,600 | |
Wallenius Wilhelmsen ASA | 33,411 | 209,714 | |
XXL ASA (c) | 43,786 | 45,802 | |
TOTAL NORWAY | 18,257,631 | ||
Portugal - 0.3% | |||
Altri SGPS SA | 22,812 | 151,397 | |
Banco Comercial Portugues SA (Reg.) (a) | 2,626,072 | 405,962 | |
Corticeira Amorim SGPS SA | 12,649 | 130,854 | |
CTT Correios de Portugal SA | 35,590 | 160,868 | |
NOS SGPS | 65,710 | 277,874 | |
REN - Redes Energeticas Nacionais SGPS SA | 126,868 | 386,709 | |
Semapa Sociedade de Investimen | 5,262 | 72,508 | |
Sonae SGPS SA | 284,791 | 307,458 | |
The Navigator Co. SA | 68,090 | 279,320 | |
TOTAL PORTUGAL | 2,172,950 | ||
Singapore - 2.2% | |||
AEM Holdings Ltd. | 89,200 | 305,471 | |
AIMS APAC (REIT) | 167,800 | 171,588 | |
Ara Logos Logistics Trust | 412,700 | 235,283 | |
Ascendas India Trust | 273,500 | 247,109 | |
Ascott Residence Trust | 626,300 | 520,320 | |
CapitaRetail China Trust | 365,600 | 307,187 | |
CDL Hospitality Trusts unit | 252,500 | 242,677 | |
China Aviation Oil Singapore Corp. Ltd. | 80,400 | 51,691 | |
ComfortDelgro Corp. Ltd. | 684,600 | 723,173 | |
Cosco Shipping International Singapore (a) | 364,400 | 64,447 | |
Cromwell European (REIT) | 97,290 | 232,286 | |
ESR (REIT) | 895,767 | 251,227 | |
Far East Hospitality Trust unit | 281,200 | 135,460 | |
First Resources Ltd. | 175,400 | 267,519 | |
Frasers Centrepoint Trust | 322,700 | 568,288 | |
Frasers Hospitality Trust unit | 253,100 | 117,537 | |
Frasers Logistics & Industrial Trust | 876,700 | 912,961 | |
Frencken Group Ltd. | 94,400 | 95,762 | |
Haw Par Corp. Ltd. | 38,600 | 324,882 | |
Hutchison Port Holdings Trust | 1,650,700 | 393,455 | |
iFast Corp. Ltd. | 43,800 | 157,282 | |
Japfa Ltd. | 134,000 | 58,177 | |
Kenon Holdings Ltd. | 7,651 | 442,470 | |
Keppel (REIT) | 589,300 | 516,278 | |
Keppel DC (REIT) | 433,500 | 646,257 | |
Keppel Infrastructure Trust | 1,108,000 | 442,415 | |
Keppel Pacific Oak U.S. (REIT) | 261,900 | 189,669 | |
Lendlease Global Commercial (REIT) | 361,716 | 206,614 | |
Manulife U.S. REIT | 454,600 | 283,219 | |
Mapletree Greater China Commercial Trust | 720,637 | 622,395 | |
Mapletree Industrial (REIT) | 641,918 | 1,206,216 | |
Maxeon Solar Technologies Ltd. (a)(b) | 7,868 | 91,111 | |
Nanofilm Technologies International Ltd. | 83,800 | 161,738 | |
NetLink NBN Trust | 986,400 | 711,557 | |
Olam Group Ltd. | 237,200 | 285,227 | |
OUE Commercial (REIT) | 687,500 | 205,487 | |
Oue Ltd. | 91,600 | 89,943 | |
Parkway Life REIT | 124,500 | 433,815 | |
Prime U.S. (REIT) | 166,113 | 122,381 | |
Raffles Medical Group Ltd. | 295,900 | 255,519 | |
Riverstone Holdings Ltd. | 164,200 | 114,213 | |
Sasseur (REIT) | 173,000 | 104,164 | |
SATS Ltd. (a) | 213,200 | 696,114 | |
Sembcorp Industries Ltd. | 310,800 | 658,214 | |
Sembcorp Marine Ltd. (a) | 4,463,200 | 349,962 | |
Sheng Siong Group Ltd. | 214,000 | 236,296 | |
SIA Engineering Co. Ltd. (a) | 89,000 | 170,925 | |
Silverlake Axis Ltd. Class A | 262,500 | 61,065 | |
Singapore Post Ltd. | 468,300 | 240,484 | |
SPH REIT | 308,700 | 217,638 | |
Starhill Global (REIT) | 455,831 | 195,154 | |
StarHub Ltd. | 192,300 | 174,423 | |
Suntec (REIT) | 636,200 | 840,464 | |
Yangzijiang Financial Holding (a) | 752,900 | 291,959 | |
Yangzijiang Shipbuilding Holdings Ltd. | 752,900 | 491,210 | |
Yanlord Land Group Ltd. | 185,500 | 162,527 | |
TOTAL SINGAPORE | 18,300,905 | ||
Spain - 2.0% | |||
Acciona SA | 7,796 | 1,526,046 | |
Acerinox SA | 51,261 | 539,739 | |
Almirall SA | 22,707 | 294,987 | |
Applus Services SA | 45,166 | 350,365 | |
Atresmedia Corporacion de Medios de Comunicacion SA | 28,622 | 109,489 | |
Audax Renovables SA (b) | 35,602 | 45,118 | |
Banco de Sabadell SA | 1,786,189 | 1,386,217 | |
Bankinter SA | 214,261 | 1,260,899 | |
Cie Automotive SA | 15,519 | 338,343 | |
Compania de Distribucion Integral Logista Holdings SA | 20,986 | 386,676 | |
Construcciones y Auxiliar de Ferrocarriles | 5,959 | 182,704 | |
Corporacion Financiera Alba SA | 5,582 | 329,866 | |
Distribuidora Internacional de Alimentacion SA (a) | 4,584,597 | 62,782 | |
Ebro Foods SA | 21,889 | 393,556 | |
eDreams ODIGEO SA (a) | 18,765 | 150,835 | |
Ence Energia y Celulosa SA | 46,725 | 175,031 | |
Faes Farma SA | 100,795 | 422,931 | |
Fluidra SA | 27,791 | 752,141 | |
Gestamp Automocion SA (c) | 54,674 | 178,592 | |
Global Dominion Access SA (c) | 28,245 | 116,787 | |
Grenergy Renovables SA (a) | 3,526 | 127,108 | |
Grupo Catalana Occidente SA | 13,259 | 381,922 | |
Indra Sistemas SA (a) | 41,827 | 426,243 | |
Inmobiliaria Colonial SA | 94,079 | 782,303 | |
Laboratorios Farmaceuticos ROVI SA | 6,195 | 423,002 | |
Lar Espana Real Estate Socimi SA | 17,991 | 94,291 | |
Linea Directa Aseguradora SA Compania de Seguros y Reaseguros | 206,149 | 296,157 | |
MAPFRE SA (Reg.) | 340,338 | 621,069 | |
Mediaset Espana Comunicacion SA (a) | 49,510 | 221,556 | |
Melia Hotels International SA (a) | 38,326 | 316,968 | |
Merlin Properties Socimi SA | 111,805 | 1,214,612 | |
Metrovacesa SA (b)(c) | 11,645 | 92,987 | |
Miquel y Costas & Miquel SA | 5,622 | 74,456 | |
Neinor Homes SLU (c) | 13,931 | 157,826 | |
Pharma Mar SA | 4,634 | 354,700 | |
Prosegur Cash SA (c) | 144,575 | 107,206 | |
Prosegur Compania de Seguridad SA (Reg.) | 69,369 | 143,569 | |
Sacyr SA | 132,135 | 355,920 | |
Solaria Energia y Medio Ambiente SA (a) | 23,663 | 525,098 | |
Soltec Power Holdings SA (a) | 11,536 | 49,293 | |
Talgo SA (c) | 21,869 | 88,355 | |
Tecnicas Reunidas SA (a) | 10,597 | 87,755 | |
Unicaja Banco SA (c) | 419,168 | 394,852 | |
Viscofan Envolturas Celulosicas SA | 12,488 | 689,392 | |
TOTAL SPAIN | 17,029,744 | ||
Sweden - 6.1% | |||
AAK AB | 57,387 | 995,708 | |
AcadeMedia AB (c) | 26,680 | 150,613 | |
AddTech AB (B Shares) | 82,489 | 1,455,138 | |
AFRY AB (B Shares) | 29,391 | 487,234 | |
Alimak Group AB (c) | 11,113 | 117,272 | |
Ambea AB (c) | 22,470 | 114,052 | |
Arjo AB | 68,212 | 512,058 | |
Atrium Ljungberg AB (B Shares) | 14,294 | 233,733 | |
Attendo AB (a)(c) | 33,403 | 90,331 | |
Avanza Bank Holding AB | 39,578 | 1,002,184 | |
Axfood AB | 33,363 | 987,276 | |
Bactiguard Holding AB (a) | 5,979 | 70,353 | |
Beijer Alma AB (B Shares) | 14,407 | 299,694 | |
Beijer Ref AB (B Shares) | 78,678 | 1,281,191 | |
Betsson AB (B Shares) | 34,541 | 212,183 | |
BHG Group AB (a) | 31,358 | 215,910 | |
BICO Group AB (a)(b) | 10,913 | 109,439 | |
Bilia AB (A Shares) | 22,729 | 315,204 | |
Billerud AB | 59,161 | 912,930 | |
BioArctic AB (a)(c) | 10,461 | 78,681 | |
BioGaia AB | 5,219 | 328,158 | |
Biotage AB (A Shares) | 21,030 | 435,637 | |
Bonava AB | 24,582 | 119,334 | |
Boozt AB (a)(c) | 15,593 | 163,734 | |
Bravida Holding AB (c) | 64,785 | 664,151 | |
Bufab AB | 8,420 | 279,336 | |
Bure Equity AB | 17,559 | 414,069 | |
Calliditas Therapeutics AB (a)(b) | 9,082 | 68,521 | |
Camurus AB (a) | 9,474 | 156,051 | |
Castellum AB | 82,879 | 1,641,282 | |
Catena AB | 9,113 | 475,745 | |
Cellavision AB | 4,522 | 141,979 | |
Cibus Nordic Real Estate AB | 11,364 | 262,812 | |
Cint Group AB (a) | 46,994 | 384,345 | |
Clas Ohlson AB (B Shares) | 12,276 | 139,369 | |
Cloetta AB | 67,140 | 169,665 | |
Collector AB (a) | 19,458 | 84,886 | |
Coor Service Management Holding AB (c) | 28,732 | 260,497 | |
Corem Property Group AB | 193,743 | 410,219 | |
Creades AB (A Shares) | 16,161 | 153,337 | |
Desenio Group AB (a) | 21,034 | 11,707 | |
Dios Fastigheter AB | 27,606 | 246,491 | |
Dometic Group AB (c) | 101,536 | 869,563 | |
Duni AB (a) | 10,410 | 95,266 | |
Dustin Group AB (c) | 21,612 | 155,289 | |
Electrolux Professional AB | 70,554 | 395,468 | |
Elekta AB (B Shares) | 117,048 | 788,350 | |
Fabege AB | 83,985 | 1,019,422 | |
Fagerhult AB | 25,150 | 126,226 | |
Fingerprint Cards AB (a)(b) | 87,541 | 100,825 | |
Fortnox AB | 153,980 | 817,340 | |
Garo AB | 8,677 | 129,865 | |
Granges AB | 33,561 | 275,632 | |
Hansa Medical AB (a) | 10,859 | 60,053 | |
Hemnet Group AB | 13,675 | 170,595 | |
Hexatronic Group AB | 9,542 | 403,704 | |
HEXPOL AB (B Shares) | 83,915 | 720,508 | |
HMS Networks AB | 8,382 | 343,074 | |
Holmen AB (B Shares) | 29,781 | 1,721,305 | |
Hufvudstaden AB (A Shares) | 35,258 | 456,843 | |
Humble Group AB (a) | 47,467 | 72,326 | |
Indutrade AB | 86,653 | 2,043,956 | |
Instalco AB | 65,705 | 405,523 | |
Intrum AB | 21,141 | 511,043 | |
Investment AB Oresund | 8,624 | 103,130 | |
INVISIO AB | 12,926 | 229,104 | |
Inwido AB | 16,465 | 227,314 | |
JM AB (B Shares) | 17,778 | 410,585 | |
K-Fast Holding AB (a) | 18,263 | 83,668 | |
Karo Pharma AB (a) | 17,772 | 102,121 | |
Know IT AB | 6,832 | 210,420 | |
LeoVegas AB (c) | 24,089 | 103,312 | |
Lime Technologies AB | 3,145 | 88,455 | |
Lindab International AB | 25,107 | 585,590 | |
Loomis AB (B Shares) | 23,770 | 592,247 | |
Mekonomen AB | 12,469 | 143,701 | |
MIPS AB | 8,266 | 587,047 | |
Modern Times Group MTG AB (B Shares) (a) | 33,042 | 349,448 | |
Munters Group AB (c) | 40,757 | 243,484 | |
Mycronic AB | 23,187 | 405,484 | |
NCC AB (B Shares) | 25,816 | 319,868 | |
New Wave Group AB (B Shares) | 12,531 | 218,798 | |
Nobia AB | 40,388 | 158,502 | |
Nolato AB (B Shares) | 65,390 | 452,589 | |
Nordic Entertainment Group AB (B Shares) (a) | 23,224 | 762,652 | |
Nordnet AB | 35,528 | 616,224 | |
Nyfosa AB | 57,294 | 631,473 | |
OX2 AB (b) | 25,824 | 189,861 | |
Pandox AB (a) | 29,205 | 406,897 | |
Paradox Interactive AB | 11,666 | 194,604 | |
Peab AB | 57,871 | 552,870 | |
Platzer Fastigheter Holding AB | 19,128 | 194,278 | |
PowerCell Sweden AB (a) | 14,809 | 216,362 | |
Ratos AB (B Shares) | 68,089 | 347,394 | |
Re:NewCell AB (a)(b) | 6,321 | 74,602 | |
Resurs Holding AB (c) | 41,062 | 119,437 | |
RVRC Holding AB | 12,477 | 96,098 | |
Saab AB (B Shares) | 23,166 | 979,897 | |
Samhallsbyggnadsbolaget I Norden AB: | |||
(B Shares) (b) | 287,336 | 902,571 | |
(D Shares) | 48,702 | 127,761 | |
SAS AB (a)(b) | 1,146,502 | 118,855 | |
Scandic Hotels Group AB (a)(c) | 48,321 | 185,963 | |
Sdiptech AB (a) | 7,846 | 274,778 | |
Sectra AB (B Shares) | 42,506 | 536,228 | |
Sedana Medical AB (a) | 20,377 | 78,013 | |
SkiStar AB | 12,986 | 252,794 | |
SSAB AB: | |||
(A Shares) | 82,928 | 526,685 | |
(B Shares) | 183,248 | 1,077,613 | |
Stillfront Group AB (a)(b) | 133,685 | 269,991 | |
Storytel AB (a)(b) | 12,928 | 93,535 | |
Surgical Science Sweden AB (a) | 10,424 | 198,396 | |
Svolder AB (B Shares) | 26,136 | 153,140 | |
Sweco AB (B Shares) | 63,358 | 894,180 | |
Swedencare AB | 27,370 | 307,616 | |
Thule Group AB (c) | 33,164 | 1,150,364 | |
Tobii AB(a) | 30,743 | 80,860 | |
Tobii Dynavox AB (a) | 28,294 | 73,262 | |
Trelleborg AB (B Shares) | 76,917 | 1,687,066 | |
Troax Group AB | 12,311 | 273,422 | |
Vestum AB (a) | 47,646 | 136,711 | |
Vimian Group AB (b) | 40,257 | 249,026 | |
Vitec Software Group AB | 9,088 | 457,961 | |
Vitrolife AB | 20,520 | 527,632 | |
VNV Global AB (a) | 29,842 | 124,453 | |
Volati AB | 6,267 | 88,019 | |
Wallenstam AB (B Shares) | 51,324 | 567,472 | |
Wihlborgs Fastigheter AB | 43,679 | 757,291 | |
Xvivo Perfusion AB (a) | 7,542 | 162,581 | |
TOTAL SWEDEN | 51,666,440 | ||
Switzerland - 4.8% | |||
Allreal Holding AG | 4,715 | 889,358 | |
ALSO Holding AG | 2,055 | 464,705 | |
ams-OSRAM AG (a) | 86,973 | 1,063,956 | |
APG SGA SA | 427 | 81,320 | |
Arbonia AG | 16,450 | 292,940 | |
Aryzta AG (a) | 313,546 | 291,952 | |
Ascom Holding AG (Reg.) | 10,238 | 90,579 | |
Autoneum Holding AG | 889 | 105,159 | |
Banque Cantonale Vaudoise | 9,512 | 803,886 | |
Basilea Pharmaceutica AG (a)(b) | 3,878 | 129,622 | |
Belimo Holding AG (Reg.) | 3,125 | 1,544,442 | |
Bell Food Group AG | 696 | 189,177 | |
BKW AG | 6,670 | 811,947 | |
Bobst Group SA | 2,609 | 220,065 | |
Bossard Holding AG | 1,784 | 386,205 | |
Bucher Industries AG | 2,104 | 758,566 | |
Burckhardt Compression Holding AG | 912 | 465,267 | |
Burkhalter Holding AG | 1,388 | 109,286 | |
Bystronic AG | 433 | 359,344 | |
Cembra Money Bank AG | 9,472 | 683,452 | |
COLTENE Holding AG | 946 | 89,742 | |
Comet Holding AG | 2,229 | 481,852 | |
Daetwyler Holdings AG | 2,404 | 772,970 | |
DKSH Holding AG | 11,366 | 975,941 | |
Dorma Kaba Holding AG | 928 | 430,729 | |
Dufry AG (a) | 23,057 | 917,719 | |
EFG International | 29,316 | 220,977 | |
Emmi AG | 676 | 670,028 | |
Flughafen Zuerich AG (a) | 6,334 | 1,071,071 | |
Forbo Holding AG (Reg.) | 339 | 496,255 | |
Galenica AG (c) | 15,841 | 1,166,492 | |
Georg Fischer AG (Reg.) | 26,020 | 1,412,108 | |
Gurit-Heberlein AG (Bearer) | 99 | 126,207 | |
Helvetia Holding AG (Reg.) | 11,772 | 1,512,782 | |
Huber+Suhner AG | 5,163 | 452,811 | |
Idorsia Ltd. (a)(b) | 36,525 | 623,423 | |
Implenia AG (a) | 4,090 | 92,480 | |
INFICON Holding AG | 545 | 496,209 | |
Interroll Holding AG | 204 | 618,404 | |
Intershop Holding AG | 360 | 234,425 | |
Kardex AG | 1,952 | 371,487 | |
Komax Holding AG (Reg.) | 1,155 | 303,394 | |
Landis+Gyr Group AG | 6,941 | 387,371 | |
LEM Holding SA | 144 | 331,730 | |
Leonteq AG | 2,996 | 203,823 | |
Medacta Group SA (a)(c) | 2,211 | 251,891 | |
Medartis Holding AG (a)(c) | 1,305 | 137,399 | |
Medmix AG (c) | 7,821 | 262,659 | |
Metall Zug AG | 61 | 127,125 | |
Meyer Burger Technology AG (a) | 759,164 | 359,721 | |
Mobilezone Holding AG | 12,735 | 206,207 | |
Mobimo Holding AG | 2,085 | 596,294 | |
Molecular Partners AG (a) | 6,622 | 53,436 | |
Montana Aerospace AG (c) | 8,246 | 125,712 | |
OC Oerlikon Corp. AG (Reg.) | 59,029 | 420,915 | |
Orior AG | 1,960 | 181,072 | |
Peach Property Group AG | 2,854 | 146,912 | |
PolyPeptide Group AG (c) | 4,739 | 414,709 | |
PSP Swiss Property AG | 14,534 | 1,831,748 | |
Relief Therapeutics Holding AG (a)(b) | 706,444 | 37,171 | |
Rieter Holding AG (Reg.) | 960 | 130,503 | |
Schweiter Technologies AG | 316 | 317,929 | |
Sensirion Holding AG (a)(c) | 3,004 | 360,284 | |
SFS Group AG | 5,370 | 672,502 | |
Siegfried Holding AG | 1,257 | 911,249 | |
Sig Group AG | 101,652 | 2,128,135 | |
Softwareone Holding AG | 30,043 | 406,196 | |
St.Galler Kantonalbank AG | 956 | 461,033 | |
Stadler Rail AG (b) | 15,790 | 573,672 | |
Sulzer AG (Reg.) | 5,951 | 445,894 | |
Swiss Steel Holding AG (a) | 290,393 | 82,403 | |
Swissquote Group Holding SA | 2,904 | 471,983 | |
Tecan Group AG | 4,019 | 1,207,781 | |
TX Group AG | 837 | 118,469 | |
u-blox Holding AG (a) | 2,137 | 177,534 | |
V-ZUG Holding AG (a) | 713 | 79,096 | |
Valiant Holding AG | 4,991 | 498,540 | |
Valora Holding AG | 1,179 | 192,776 | |
Vetropack Holding AG | 3,697 | 152,106 | |
Vontobel Holdings AG | 8,986 | 657,207 | |
VZ Holding AG | 4,490 | 334,163 | |
Ypsomed Holding AG | 1,001 | 143,048 | |
Zehnder Group AG | 3,079 | 240,764 | |
Zur Rose Group AG (a) | 2,828 | 347,091 | |
TOTAL SWITZERLAND | 40,464,987 | ||
United Kingdom - 14.9% | |||
A.G. Barr PLC | 28,289 | 205,782 | |
AB Dynamics PLC | 5,005 | 91,761 | |
Abcam PLC (a) | 69,078 | 1,071,894 | |
Advanced Medical Solutions Group PLC | 61,343 | 213,846 | |
Airtel Africa PLC (c) | 296,627 | 542,749 | |
AJ Bell PLC | 97,295 | 301,496 | |
Alliance Pharma PLC | 143,683 | 206,385 | |
Alpha FX Group PLC | 9,052 | 233,789 | |
Alphawave IP Group PLC | 83,973 | 158,719 | |
AO World PLC (a)(b) | 98,830 | 92,704 | |
Argo Blockchain PLC (a) | 151,094 | 122,849 | |
Ascential PLC (a) | 138,465 | 548,979 | |
Ashmore Group PLC | 146,319 | 404,492 | |
ASOS PLC (a) | 22,086 | 384,572 | |
Assura PLC | 930,079 | 767,356 | |
Aston Martin Lagonda Global Holdings PLC (a)(c) | 22,030 | 230,809 | |
Auction Technology Group PLC (a) | 26,552 | 292,188 | |
Avacta Group PLC (a)(b) | 80,039 | 121,782 | |
Avast PLC (c) | 213,165 | 1,498,164 | |
Avon Protection PLC | 9,788 | 129,534 | |
Babcock International Group PLC (a) | 79,790 | 304,635 | |
Bakkavor Group PLC (c) | 45,751 | 60,319 | |
Balfour Beatty PLC | 204,196 | 618,655 | |
Bank of Georgia Group PLC | 12,417 | 191,313 | |
Beazley PLC | 193,207 | 1,040,728 | |
Bellway PLC | 39,141 | 1,188,801 | |
Biffa PLC (c) | 96,482 | 418,466 | |
Big Yellow Group PLC | 55,442 | 1,001,946 | |
Bodycote PLC | 60,447 | 468,818 | |
Brewin Dolphin Holding PLC | 95,913 | 614,292 | |
Bridgepoint Group Holdings Ltd. (c) | 91,512 | 349,179 | |
Britvic PLC | 84,892 | 909,709 | |
Bytes Technology Group PLC | 68,034 | 378,201 | |
Capita Group PLC (a) | 531,602 | 158,645 | |
Capital & Counties Properties PLC | 228,385 | 471,881 | |
Capricorn Energy PLC (a) | 103,759 | 266,872 | |
Carnival PLC (a) | 47,769 | 748,934 | |
Central Asia Metals PLC | 55,516 | 186,006 | |
Centrica PLC (a) | 1,863,612 | 1,846,448 | |
Ceres Power Holdings PLC (a) | 30,039 | 274,092 | |
Chemring Group PLC | 89,196 | 389,516 | |
Cineworld Group PLC (a)(b) | 303,326 | 116,103 | |
Civitas Social Housing PLC | 196,378 | 210,453 | |
Clarkson PLC | 9,133 | 420,505 | |
Clipper Logistics PLC | 24,612 | 266,288 | |
Close Brothers Group PLC | 47,772 | 662,403 | |
CLS Holdings PLC | 57,848 | 147,840 | |
CMC Markets PLC (c) | 41,406 | 150,130 | |
Coats Group PLC | 459,092 | 405,864 | |
Computacenter PLC | 23,580 | 792,280 | |
ContourGlobal PLC (c) | 62,160 | 149,400 | |
ConvaTec Group PLC (c) | 511,220 | 1,352,325 | |
Countryside Partnerships PLC (a)(c) | 154,974 | 483,874 | |
Craneware PLC | 8,974 | 193,609 | |
Cranswick PLC | 16,731 | 665,297 | |
Crest Nicholson Holdings PLC | 81,200 | 255,494 | |
Currys PLC | 349,854 | 405,634 | |
Custodian (REIT) PLC | 133,422 | 167,259 | |
CVS Group PLC | 21,249 | 479,692 | |
Dechra Pharmaceuticals PLC | 34,360 | 1,557,036 | |
Deliveroo PLC Class A (a)(c) | 219,745 | 303,702 | |
Derwent London PLC | 32,012 | 1,214,597 | |
Diploma PLC | 39,534 | 1,355,968 | |
Direct Line Insurance Group PLC | 422,335 | 1,340,440 | |
Diversified Gas & Oil PLC | 254,838 | 385,024 | |
Domino's Pizza UK & IRL PLC | 128,178 | 555,210 | |
dotdigital Group PLC | 84,679 | 91,487 | |
Dr. Martens Ltd. | 142,158 | 371,689 | |
Drax Group PLC | 126,641 | 1,279,797 | |
DS Smith PLC | 435,449 | 1,789,376 | |
Dunelm Group PLC | 38,748 | 474,485 | |
easyJet PLC (a) | 96,377 | 667,844 | |
Electrocomponents PLC | 149,260 | 1,948,213 | |
Elementis PLC (a) | 183,662 | 278,981 | |
EMIS Group PLC | 17,992 | 299,898 | |
Empiric Student Property PLC | 190,304 | 218,205 | |
Energean PLC (a) | 36,881 | 542,162 | |
Ergomed PLC (a) | 11,559 | 170,548 | |
Essentra PLC | 95,244 | 373,256 | |
Eurasia Mining PLC (a) | 576,931 | 59,339 | |
Euromoney Institutional Invest | 34,515 | 425,602 | |
FD Technologies PLC (a) | 7,022 | 208,071 | |
Ferrexpo PLC | 92,890 | 190,744 | |
Fever-Tree Drinks PLC | 33,341 | 755,999 | |
Firstgroup PLC (a)(b) | 235,403 | 330,457 | |
Forterra PLC (c) | 72,171 | 225,630 | |
Frasers Group PLC (a) | 63,962 | 543,253 | |
Frontier Developments PLC (a) | 6,831 | 110,030 | |
Funding Circle Holdings PLC (a)(c) | 56,262 | 51,247 | |
Future PLC | 36,354 | 995,671 | |
Games Workshop Group PLC | 10,414 | 962,440 | |
Gamma Communications PLC | 25,834 | 385,059 | |
GB Group PLC | 71,338 | 516,988 | |
Genuit Group PLC | 79,044 | 446,214 | |
Genus PLC | 20,897 | 656,560 | |
Grainger Trust PLC | 234,476 | 872,197 | |
Great Portland Estates PLC | 72,127 | 612,641 | |
Greatland Gold PLC (a) | 1,286,470 | 214,755 | |
Greggs PLC | 32,342 | 943,608 | |
Halfords Group PLC | 62,850 | 178,843 | |
Hammerson PLC | 1,002,904 | 362,081 | |
Harbour Energy PLC | 131,490 | 824,574 | |
Hays PLC | 532,221 | 817,410 | |
Helical PLC | 35,096 | 190,849 | |
Helios Towers PLC (a) | 231,794 | 323,797 | |
Hill & Smith Holdings PLC | 25,463 | 440,393 | |
Hochschild Mining PLC | 105,425 | 154,866 | |
Home (REIT) PLC | 177,125 | 270,604 | |
HomeServe PLC | 96,185 | 1,182,088 | |
Hotel Chocolat Group Ltd. (a) | 17,327 | 81,399 | |
Howden Joinery Group PLC | 187,784 | 1,777,849 | |
Hunting PLC | 44,214 | 161,175 | |
Ibstock PLC (c) | 129,294 | 305,224 | |
Ideagen PLC | 83,183 | 243,594 | |
IG Design Group PLC | 24,474 | 20,678 | |
IG Group Holdings PLC | 123,218 | 1,259,297 | |
IMI PLC | 82,634 | 1,391,121 | |
Impax Asset Management Group PLC | 27,210 | 294,269 | |
Inchcape PLC | 121,919 | 1,090,891 | |
Indivior PLC (a) | 225,940 | 884,897 | |
IntegraFin Holdings PLC | 88,929 | 401,026 | |
Intermediate Capital Group PLC | 92,095 | 1,762,374 | |
Investec PLC | 220,821 | 1,300,612 | |
IP Group PLC | 313,992 | 323,775 | |
IQE PLC (a) | 240,954 | 90,228 | |
ITM Power PLC (a)(b) | 135,469 | 558,106 | |
ITV PLC | 1,148,480 | 1,060,568 | |
J.D. Wetherspoon PLC (a) | 30,506 | 277,199 | |
Jet2 PLC (a) | 51,150 | 785,510 | |
John Wood Group PLC (a) | 217,276 | 604,139 | |
Johnson Service Group PLC (a) | 140,502 | 193,206 | |
Judges Scientific PLC | 1,594 | 134,783 | |
Jupiter Fund Management PLC | 139,745 | 311,916 | |
Just Group PLC | 327,435 | 345,901 | |
Kainos Group PLC | 25,560 | 387,259 | |
Keller Group PLC | 23,059 | 242,996 | |
Keywords Studios PLC | 22,943 | 688,247 | |
Kier Group PLC (a) | 140,914 | 139,249 | |
Learning Technologies Group PLC | 186,227 | 304,700 | |
Liontrust Asset Management PLC | 19,340 | 280,693 | |
Londonmetric Properity PLC | 295,738 | 999,557 | |
Luceco PLC (c) | 25,352 | 60,671 | |
LXI REIT PLC | 288,241 | 535,045 | |
Marks & Spencer Group PLC (a) | 620,709 | 1,059,625 | |
Marshalls PLC | 63,180 | 483,489 | |
Marston's PLC (a) | 208,643 | 195,128 | |
Mediclinic International PLC (London) (a) | 128,187 | 594,267 | |
Meggitt PLC (a) | 247,369 | 2,398,222 | |
Micro Focus International PLC | 105,921 | 500,180 | |
Mitchells & Butlers PLC (a) | 84,801 | 241,567 | |
Mitie Group PLC | 450,025 | 303,382 | |
Moneysupermarket.com Group PLC | 170,099 | 372,629 | |
Moonpig Group PLC (a) | 48,851 | 117,388 | |
Morgan Advanced Materials PLC | 90,095 | 315,960 | |
Morgan Sindall PLC | 12,445 | 335,546 | |
Naked Wines PLC (a) | 18,537 | 83,894 | |
National Express Group PLC Class L (a) | 174,441 | 540,710 | |
NCC Group Ltd. | 97,485 | 221,269 | |
Network International Holdings PLC (a)(c) | 151,405 | 494,629 | |
Ninety One PLC | 108,180 | 360,452 | |
Numis Corp. PLC | 23,874 | 74,803 | |
On The Beach Group PLC (a)(c) | 52,209 | 149,754 | |
OSB Group PLC | 141,565 | 988,186 | |
Oxford BioMedica PLC (a) | 19,289 | 138,991 | |
Pagegroup PLC | 104,495 | 639,392 | |
Pantheon Resources PLC (a) | 164,576 | 254,198 | |
Paragon Banking Group PLC | 79,580 | 492,143 | |
Pennon Group PLC | 86,433 | 1,201,095 | |
Pets At Home Group PLC | 157,851 | 612,715 | |
Polar Capital Holdings PLC | 23,750 | 165,535 | |
Premier Foods PLC | 189,173 | 261,666 | |
Primary Health Properties PLC | 420,485 | 762,554 | |
Provident Financial PLC | 80,074 | 256,293 | |
PZ Cussons PLC Class L | 67,813 | 174,003 | |
QinetiQ Group PLC | 182,607 | 774,732 | |
Quilter PLC (c) | 530,540 | 873,950 | |
Rank Group PLC (a) | 81,466 | 109,434 | |
Rathbone Brothers PLC | 19,707 | 520,190 | |
Reach PLC | 93,780 | 191,110 | |
Redde Northgate PLC | 73,785 | 365,006 | |
Redrow PLC | 89,008 | 583,474 | |
Renalytix AI PLC (a) | 14,821 | 39,602 | |
Renewi PLC (a) | 25,258 | 217,176 | |
Renishaw PLC | 11,588 | 612,393 | |
Restore PLC | 38,835 | 215,817 | |
Rightmove PLC | 269,228 | 2,069,582 | |
Rotork PLC | 272,617 | 994,650 | |
Royal Mail PLC | 253,672 | 1,087,314 | |
RWS Holdings PLC | 92,170 | 504,792 | |
S4 Capital PLC (a) | 88,325 | 334,076 | |
Sabre Insurance Group PLC (c) | 78,862 | 206,612 | |
Safestore Holdings PLC | 66,910 | 1,052,613 | |
Saga PLC (a) | 33,119 | 92,039 | |
Savills PLC | 45,498 | 612,067 | |
Secure Income (REIT) PLC | 86,987 | 471,514 | |
Senior Engineering Group PLC (a) | 132,329 | 211,071 | |
Serco Group PLC | 384,516 | 727,152 | |
Serica Energy PLC | 50,789 | 223,131 | |
Shaftesbury PLC | 60,661 | 454,262 | |
SIG PLC (a) | 223,378 | 115,484 | |
Smart Metering Systems PLC | 39,826 | 411,935 | |
Softcat PLC | 37,693 | 665,707 | |
Solgold PLC (a) | 289,561 | 104,069 | |
Spectris PLC | 35,157 | 1,285,828 | |
Spire Healthcare Group PLC (a)(c) | 88,904 | 239,989 | |
Spirent Communications PLC | 199,064 | 575,571 | |
SSP Group PLC (a) | 240,252 | 709,134 | |
Stagecoach Group PLC (a) | 130,376 | 170,752 | |
SThree PLC | 40,017 | 184,475 | |
Synthomer PLC | 118,663 | 451,508 | |
Target Healthcare (REIT) PLC | 195,676 | 273,109 | |
Tate & Lyle PLC | 148,603 | 1,444,362 | |
TBC Bank Group PLC | 13,051 | 205,797 | |
Team17 Group PLC (a) | 33,195 | 180,790 | |
Telecom Plus PLC | 19,892 | 410,355 | |
The Go-Ahead Group PLC (a) | 13,627 | 161,677 | |
The Gym Group PLC (a)(c) | 50,516 | 120,956 | |
The Restaurant Group PLC (a) | 241,435 | 184,806 | |
The Weir Group PLC | 82,300 | 1,582,175 | |
TI Fluid Systems PLC (c) | 74,084 | 150,553 | |
TORM PLC (a) | 7,704 | 75,702 | |
Trainline PLC (a)(c) | 151,770 | 536,360 | |
Travis Perkins PLC | 70,320 | 1,072,550 | |
Tritax Big Box REIT PLC | 591,369 | 1,805,255 | |
Trustpilot Group PLC (a)(c) | 58,476 | 75,739 | |
Tullow Oil PLC (a) | 383,889 | 267,310 | |
Tyman PLC | 61,924 | 212,696 | |
Ultra Electronics Holdings PLC | 22,663 | 923,022 | |
Unite Group PLC | 107,552 | 1,522,959 | |
Urban Logistics REIT PLC | 148,222 | 345,397 | |
Vesuvius PLC | 68,488 | 278,441 | |
Victoria PLC (a) | 20,307 | 162,838 | |
Victorian Plumbing PLC | 36,991 | 27,768 | |
Victrex PLC | 27,455 | 626,065 | |
Virgin Money UK PLC | 411,362 | 892,489 | |
Vistry Group PLC | 70,657 | 737,170 | |
Vivo Energy PLC (c) | 139,986 | 253,098 | |
Volex PLC | 37,530 | 121,588 | |
Volution Group PLC | 62,455 | 318,122 | |
Warehouse (REIT) PLC | 127,236 | 254,319 | |
Watkin Jones PLC | 64,678 | 199,479 | |
WH Smith PLC (a) | 41,607 | 748,563 | |
Wickes Group PLC | 81,974 | 195,423 | |
Workspace Group PLC | 42,881 | 358,851 | |
YouGov PLC | 33,380 | 526,000 | |
Young & Co.'s Brewery PLC Class A | 7,073 | 122,853 | |
TOTAL UNITED KINGDOM | 126,222,351 | ||
United States of America - 0.1% | |||
Coronado Global Resources, Inc. unit (c) | 238,132 | 383,621 | |
Nano-X Imaging Ltd. (a)(b) | 10,568 | 97,120 | |
TOTAL UNITED STATES OF AMERICA | 480,741 | ||
TOTAL COMMON STOCKS | |||
(Cost $1,018,811,728) | 833,273,866 | ||
Nonconvertible Preferred Stocks - 0.2% | |||
Germany - 0.2% | |||
Draegerwerk AG & Co. KGaA (non-vtg.) | 2,747 | 135,949 | |
Einhell Germany AG | 534 | 109,848 | |
Jungheinrich AG | 15,350 | 375,431 | |
Sixt SE Preference Shares | 5,355 | 387,036 | |
Sto SE & Co. KGaA | 804 | 168,691 | |
TOTAL GERMANY | 1,176,955 | ||
Italy - 0.0% | |||
Danieli & C. Officine Meccaniche SpA | 12,241 | 191,488 | |
TOTAL NONCONVERTIBLE PREFERRED STOCKS | |||
(Cost $2,042,173) | 1,368,443 | ||
Principal Amount | Value | ||
Government Obligations - 0.1% | |||
United States of America - 0.1% | |||
U.S. Treasury Bills, yield at date of purchase 1.23% 1/26/23 (Cost $495,446)(f) | 500,000 | 493,933 | |
Shares | Value | ||
Money Market Funds - 3.0% | |||
Fidelity Cash Central Fund 0.32% (g) | 3,043,021 | 3,043,630 | |
Fidelity Securities Lending Cash Central Fund 0.32% (g)(h) | 22,551,699 | 22,553,954 | |
TOTAL MONEY MARKET FUNDS | |||
(Cost $25,597,584) | 25,597,584 | ||
TOTAL INVESTMENT IN SECURITIES - 101.6% | |||
(Cost $1,046,946,931) | 860,733,826 | ||
NET OTHER ASSETS (LIABILITIES) - (1.6)% | (13,145,787) | ||
NET ASSETS - 100% | $847,588,039 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount | Value | Unrealized Appreciation/(Depreciation) | |
Purchased | |||||
Equity Index Contracts | |||||
ICE E-mini MSCI EAFE Index Contracts (United States) | 139 | June 2022 | $13,876,370 | $(473,892) | $(473,892) |
The notional amount of futures purchased as a percentage of Net Assets is 1.6%
Legend
(a) Non-income producing
(b) Security or a portion of the security is on loan at period end.
(c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $36,972,664 or 4.4% of net assets.
(d) Security or a portion of the security purchased on a delayed delivery or when-issued basis.
(e) Level 3 security
(f) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $493,933.
(g) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
(h) Investment made with cash collateral received from securities on loan.
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Fund | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain/Loss | Change in Unrealized appreciation (depreciation) | Value, end of period | % ownership, end of period |
Fidelity Cash Central Fund 0.32% | $93,755 | $170,640,044 | $167,690,169 | $3,038 | $-- | $-- | $3,043,630 | 0.0% |
Fidelity Securities Lending Cash Central Fund 0.32% | 14,261,475 | 44,422,255 | 36,129,776 | 382,297 | -- | -- | 22,553,954 | 0.1% |
Total | $14,355,230 | $215,062,299 | $203,819,945 | $385,335 | $-- | $-- | $25,597,584 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable. Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Investment Valuation
The following is a summary of the inputs used, as of April 30, 2022, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
Valuation Inputs at Reporting Date: | ||||
Description | Total | Level 1 | Level 2 | Level 3 |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | $36,426,632 | $1,914,562 | $34,512,070 | $-- |
Consumer Discretionary | 95,443,673 | 1,928,899 | 93,514,774 | -- |
Consumer Staples | 49,234,075 | 1,460,265 | 47,773,810 | -- |
Energy | 19,940,572 | 1,980,956 | 17,959,616 | -- |
Financials | 95,397,930 | 3,414,140 | 91,983,790 | -- |
Health Care | 49,116,436 | 324,937 | 48,791,499 | -- |
Industrials | 192,006,278 | 3,465,595 | 188,534,645 | 6,038 |
Information Technology | 81,540,472 | 6,031,261 | 75,326,240 | 182,971 |
Materials | 81,769,031 | 703,715 | 81,065,316 | -- |
Real Estate | 104,854,941 | 6,656,182 | 98,198,759 | -- |
Utilities | 28,912,269 | 1,707,039 | 27,205,230 | -- |
Government Obligations | 493,933 | -- | 493,933 | -- |
Money Market Funds | 25,597,584 | 25,597,584 | -- | -- |
Total Investments in Securities: | $860,733,826 | $55,185,135 | $805,359,682 | $189,009 |
Derivative Instruments: | ||||
Liabilities | ||||
Futures Contracts | $(473,892) | $(473,892) | $-- | $-- |
Total Liabilities | $(473,892) | $(473,892) | $-- | $-- |
Total Derivative Instruments: | $(473,892) | $(473,892) | $-- | $-- |
Value of Derivative Instruments
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2022. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
Primary Risk Exposure / Derivative Type | Value | |
Asset | Liability | |
Equity Risk | ||
Futures Contracts(a) | $0 | $(473,892) |
Total Equity Risk | 0 | (473,892) |
Total Value of Derivatives | $0 | $(473,892) |
(a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statementof Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futurescontracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
See accompanying notes which are an integral part of the financial statements.
Financial Statements
Statement of Assets and Liabilities
April 30, 2022 (Unaudited) | ||
Assets | ||
Investment in securities, at value (including securities loaned of $17,638,478) — See accompanying schedule: Unaffiliated issuers (cost $1,021,349,347) | $835,136,242 | |
Fidelity Central Funds (cost $25,597,584) | 25,597,584 | |
Total Investment in Securities (cost $1,046,946,931) | $860,733,826 | |
Segregated cash with brokers for derivative instruments | 240,588 | |
Foreign currency held at value (cost $4,805,925) | 4,641,685 | |
Receivable for investments sold | 1,042,331 | |
Receivable for fund shares sold | 41,376 | |
Dividends receivable | 4,509,749 | |
Distributions receivable from Fidelity Central Funds | 64,324 | |
Receivable for daily variation margin on futures contracts | 5,740 | |
Prepaid expenses | 161 | |
Receivable from investment adviser for expense reductions | 11,980 | |
Total assets | 871,291,760 | |
Liabilities | ||
Payable to custodian bank | $181,001 | |
Payable for investments purchased | ||
Regular delivery | 177,015 | |
Delayed delivery | 100,466 | |
Payable for fund shares redeemed | 149,076 | |
Accrued management fee | 73,916 | |
Other payables and accrued expenses | 468,293 | |
Collateral on securities loaned | 22,553,954 | |
Total liabilities | 23,703,721 | |
Net Assets | $847,588,039 | |
Net Assets consist of: | ||
Paid in capital | $1,027,842,814 | |
Total accumulated earnings (loss) | (180,254,775) | |
Net Assets | $847,588,039 | |
Net Asset Value, offering price and redemption price per share ($847,588,039 ÷ 102,108,249 shares) | $8.30 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
Six months ended April 30, 2022 (Unaudited) | ||
Investment Income | ||
Dividends | $12,882,750 | |
Interest | 624 | |
Income from Fidelity Central Funds (including $382,297 from security lending) | 385,335 | |
Income before foreign taxes withheld | 13,268,709 | |
Less foreign taxes withheld | (1,415,620) | |
Total income | 11,853,089 | |
Expenses | ||
Management fee | $451,611 | |
Custodian fees and expenses | 87,209 | |
Independent trustees' fees and expenses | 1,462 | |
Registration fees | 25,805 | |
Audit | 28,208 | |
Legal | 517 | |
Miscellaneous | 659 | |
Total expenses before reductions | 595,471 | |
Expense reductions | (143,142) | |
Total expenses after reductions | 452,329 | |
Net investment income (loss) | 11,400,760 | |
Realized and Unrealized Gain (Loss) | ||
Net realized gain (loss) on: | ||
Investment securities: | ||
Unaffiliated issuers | 1,377,951 | |
Foreign currency transactions | (238,294) | |
Futures contracts | (1,025,787) | |
Total net realized gain (loss) | 113,870 | |
Change in net unrealized appreciation (depreciation) on: | ||
Investment securities: | ||
Unaffiliated issuers | (181,395,220) | |
Assets and liabilities in foreign currencies | (314,571) | |
Futures contracts | (514,344) | |
Total change in net unrealized appreciation (depreciation) | (182,224,135) | |
Net gain (loss) | (182,110,265) | |
Net increase (decrease) in net assets resulting from operations | $(170,709,505) |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
Six months ended April 30, 2022 (Unaudited) | For the period May 27, 2021 (commencement of operations) through October 31, 2021 | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net investment income (loss) | $11,400,760 | $6,621,817 |
Net realized gain (loss) | 113,870 | (237,459) |
Change in net unrealized appreciation (depreciation) | (182,224,135) | (4,830,874) |
Net increase (decrease) in net assets resulting from operations | (170,709,505) | 1,553,484 |
Distributions to shareholders | (11,052,522) | – |
Share transactions | ||
Proceeds from sales of shares | 162,320,604 | 883,521,251 |
Reinvestment of distributions | 11,052,043 | – |
Cost of shares redeemed | (17,441,354) | (11,655,962) |
Net increase (decrease) in net assets resulting from share transactions | 155,931,293 | 871,865,289 |
Total increase (decrease) in net assets | (25,830,734) | 873,418,773 |
Net Assets | ||
Beginning of period | 873,418,773 | – |
End of period | $847,588,039 | $873,418,773 |
Other Information | ||
Shares | ||
Sold | 16,584,585 | 87,430,958 |
Issued in reinvestment of distributions | 1,147,668 | – |
Redeemed | (1,907,764) | (1,147,198) |
Net increase (decrease) | 15,824,489 | 86,283,760 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity SAI International Small Cap Index Fund
Six months ended (Unaudited) April 30, | Years endedOctober 31, | |
2022 | 2021 A | |
Selected Per–Share Data | ||
Net asset value, beginning of period | $10.12 | $10.00 |
Income from Investment Operations | ||
Net investment income (loss)B,C | .12 | .09 |
Net realized and unrealized gain (loss) | (1.81) | .03D |
Total from investment operations | (1.69) | .12 |
Distributions from net investment income | (.13) | – |
Total distributions | (.13) | – |
Net asset value, end of period | $8.30 | $10.12 |
Total ReturnE,F | (16.89)% | 1.20% |
Ratios to Average Net AssetsC,G,H | ||
Expenses before reductions | .13%I | .19%I,J |
Expenses net of fee waivers, if any | .10%I | .10%I |
Expenses net of all reductions | .10%I | .10%I |
Net investment income (loss) | 2.53%I | 2.00%I |
Supplemental Data | ||
Net assets, end of period (000 omitted) | $847,588 | $873,419 |
Portfolio turnover rateK | 13%I | 1%L |
A For the period May 27, 2021 (commencement of operations) through October 31, 2021.
B Calculated based on average shares outstanding during the period.
C Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any such underlying funds is not included in the Fund's net investment income (loss) ratio.
D The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.
E Total returns for periods of less than one year are not annualized.
F Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
G Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
H Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
I Annualized
J Audit fees are not annualized.
K Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
L Amount not annualized.
See accompanying notes which are an integral part of the financial statements.
Notes to Financial Statements (Unaudited)
For the period ended April 30, 2022
1. Organization.
Fidelity SAI International Small Cap Index Fund (the Fund) is a fund of Fidelity Concord Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered exclusively to certain clients of Fidelity Management & Research Company LLC (FMR) or its affiliates. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio(a) |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005%. |
(a) Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.
The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
- Level 1 – unadjusted quoted prices in active markets for identical investments
- Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
- Level 3 – unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value the Fund's investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers prepayment speed assumptions, attributes of the collateral, yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2022, is included at the end of the Fund's Schedule of Investments.
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in dividends receivable.
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
Book-tax differences are primarily due futures contracts, foreign currency transactions, passive foreign investment company (PFIC), partnerships, capital loss carryforward and losses deferred due to wash sales.
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:
Gross unrealized appreciation | $34,300,496 |
Gross unrealized depreciation | (223,896,416) |
Net unrealized appreciation (depreciation) | $(189,595,920) |
Tax cost | $1,049,855,854 |
Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
No expiration | |
Short-term | $(51,760) |
Total capital loss carryforward | $(51,760) |
Delayed Delivery Transactions and When-Issued Securities. During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. Securities purchased on a delayed delivery or when-issued basis are identified as such in the Schedule of Investments. Compensation for interest forgone in the purchase of a delayed delivery or when-issued debt security may be received. With respect to purchase commitments, each applicable Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Payables and receivables associated with the purchases and sales of delayed delivery securities having the same coupon, settlement date and broker are offset. Delayed delivery or when-issued securities that have been purchased from and sold to different brokers are reflected as both payables and receivables in the Statement of Assets and Liabilities under the caption "Delayed delivery", as applicable. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.
Restricted Securities (including Private Placements). Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objective allows the Fund to enter into various types of derivative contracts, including. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
The Fund used derivatives to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.
The Fund's use of derivatives increased or decreased its exposure to the following risk:
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
The Fund is also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that the Fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to the Fund. Counterparty credit risk related to exchange-traded futures contracts may be mitigated by the protection provided by the exchange on which they trade.
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Fund used futures contracts to manage its exposure to the stock market.
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments (variation margin) are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end. Securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.
Purchases ($) | Sales ($) | |
Fidelity SAI International Small Cap Index Fund | 216,938,096 | 60,126,402 |
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee that is based on an annual rate of .10% of the Fund's average net assets.
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period there were no interfund trades.
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The participating funds have agreed to pay commitment fees on their pro-rata portion of the line of credit, which are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below. During the period, there were no borrowings on this line of credit.
Amount | |
Fidelity SAI International Small Cap Index Fund | $50 |
8. Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Affiliated security lending activity, if any, was as follows:
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity SAI International Small Cap Index Fund | $40,262 | $195 | $7,140 |
9. Expense Reductions.
The investment adviser agreed to reimburse the Fund to the extent annual operating expenses exceeded .10% of average net assets. This reimbursement will remain in place through February 28, 2023. Some expenses, for example the compensation of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses, are excluded from this reimbursement. During the period this reimbursement reduced the Fund's expenses by $143,142.
10. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
In addition, at the end of the period, the following mutual funds managed by the investment adviser or its affiliates were the owners of record of 10% or more of the total outstanding shares.
Strategic Advisers Fidelity International Fund | Strategic Advisers International Fund | |
Fidelity SAI International Small Cap Index Fund | 62% | 16% |
Mutual funds managed by the investment adviser or its affiliates, in aggregate, were the owners of record of more than 20% of the total outstanding shares.
Fund | % of shares held |
Fidelity SAI International Small Cap Index Fund | 79% |
11. Coronavirus (COVID-19) Pandemic.
An outbreak of COVID-19 first detected in China during December 2019 has since spread globally and was declared a pandemic by the World Health Organization during March 2020. Developments that disrupt global economies and financial markets, such as the COVID-19 pandemic, may magnify factors that affect the Fund's performance.
Shareholder Expense Example
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2021 to April 30, 2022).
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Annualized Expense Ratio-A | Beginning Account Value November 1, 2021 | Ending Account Value April 30, 2022 | Expenses Paid During Period-B November 1, 2021 to April 30, 2022 | |
Fidelity SAI International Small Cap Index Fund | .10% | |||
Actual | $1,000.00 | $831.10 | $.45 | |
Hypothetical-C | $1,000.00 | $1,024.30 | $.50 |
A Annualized expense ratio reflects expenses net of applicable fee waivers.
B Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/ 365 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
C 5% return per year before expenses
Liquidity Risk Management Program
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Fund has adopted and implemented a liquidity risk management program pursuant to the Liquidity Rule (the Program) effective December 1, 2018. The Program is reasonably designed to assess and manage the Fund’s liquidity risk and to comply with the requirements of the Liquidity Rule. The Fund’s Board of Trustees (the Board) has designated the Fund’s investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund’s liquidity risk based on a variety of factors including (1) the Fund’s investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) in the case of exchange-traded funds, certain additional factors including the effect of the Fund’s prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund’s portfolio, as applicable.
In accordance with the Program, each of the Fund’s portfolio investments is classified into one of four liquidity categories described below based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
- Highly liquid investments – cash or convertible to cash within three business days or less
- Moderately liquid investments – convertible to cash in three to seven calendar days
- Less liquid investments – can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments – cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund’s illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund’s net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM). The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund’s Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of implementation of the Program for the annual period from December 1, 2020 through November 30, 2021. The report concluded that the Program has been implemented and is operating effectively and is reasonably designed to assess and manage the Fund’s liquidity risk.
SCI-SANN-0622
1.9903807.100
Fidelity® SAI Japan Stock Index Fund
Offered exclusively to certain clients of the Adviser, or its affiliates, including Strategic Advisers LLC (SAI) - not available for sale to the general public. Fidelity SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with SAI.
Semi-Annual Report
April 30, 2022
Contents
To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
You may also call 1-800-544-3455 to request a free copy of the proxy voting guidelines.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2022 FMR LLC. All rights reserved.
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
Note to Shareholders:
Early in 2020, the outbreak and spread of COVID-19 emerged as a public health emergency that had a major influence on financial markets, primarily based on its impact on the global economy and corporate earnings. On March 11, 2020, the World Health Organization declared the COVID-19 outbreak a pandemic, citing sustained risk of further global spread. The pandemic prompted a number of measures to limit the spread of COVID-19, including travel and border restrictions, quarantines, and restrictions on large gatherings. In turn, these resulted in lower consumer activity, diminished demand for a wide range of products and services, disruption in manufacturing and supply chains, and – given the wide variability in outcomes regarding the outbreak – significant market uncertainty and volatility. To help stem the turmoil, the U.S. government took unprecedented action – in concert with the U.S. Federal Reserve and central banks around the world – to help support consumers, businesses, and the broader economy, and to limit disruption to the financial system.
In general, the overall impact of the pandemic lessened in 2021, amid a resilient economy and widespread distribution of three COVID-19 vaccines granted emergency use authorization from the U.S. Food and Drug Administration (FDA) early in the year. Still, the situation remains dynamic, and the extent and duration of its influence on financial markets and the economy is highly uncertain, due in part to a recent spike in cases based on highly contagious variants of the coronavirus.
Extreme events such as the COVID-19 crisis are exogenous shocks that can have significant adverse effects on mutual funds and their investments. Although multiple asset classes may be affected by market disruption, the duration and impact may not be the same for all types of assets. Fidelity is committed to helping you stay informed amid news about COVID-19 and during increased market volatility, and we continue to take extra steps to be responsive to customer needs. We encourage you to visit us online, where we offer ongoing updates, commentary, and analysis on the markets and our funds.
Investment Summary (Unaudited)
Geographic Diversification (% of fund's net assets)
As of April 30, 2022 | ||
Japan | 98.4% | |
United States of America | 1.6% |
Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.
Asset Allocation as of April 30, 2022
% of fund's net assets | |
Stocks and Equity Futures | 100.0 |
Top Ten Stocks as of April 30, 2022
% of fund's net assets | |
Toyota Motor Corp. (Automobiles) | 5.5 |
Sony Group Corp. (Household Durables) | 3.3 |
Keyence Corp. (Electronic Equipment & Components) | 2.4 |
Mitsubishi UFJ Financial Group, Inc. (Banks) | 2.1 |
Tokyo Electron Ltd. (Semiconductors & Semiconductor Equipment) | 1.9 |
KDDI Corp. (Wireless Telecommunication Services) | 1.6 |
Nintendo Co. Ltd. (Entertainment) | 1.5 |
SoftBank Group Corp. (Wireless Telecommunication Services) | 1.5 |
Recruit Holdings Co. Ltd. (Professional Services) | 1.5 |
Shin-Etsu Chemical Co. Ltd. (Chemicals) | 1.5 |
22.8 |
Market Sectors as of April 30, 2022
% of fund's net assets | |
Industrials | 21.5 |
Consumer Discretionary | 18.6 |
Information Technology | 13.6 |
Financials | 10.1 |
Health Care | 9.3 |
Communication Services | 8.5 |
Consumer Staples | 6.6 |
Materials | 4.8 |
Real Estate | 3.5 |
Utilities | 1.0 |
Energy | 0.9 |
Schedule of Investments April 30, 2022 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 98.4% | |||
Shares | Value | ||
COMMUNICATION SERVICES - 8.5% | |||
Diversified Telecommunication Services - 1.1% | |||
Nippon Telegraph & Telephone Corp. | 444,000 | $13,084,396 | |
Entertainment - 2.5% | |||
Capcom Co. Ltd. | 65,400 | 1,725,718 | |
Koei Tecmo Holdings Co. Ltd. | 21,800 | 668,497 | |
Konami Holdings Corp. | 34,600 | 2,127,671 | |
Nexon Co. Ltd. | 183,500 | 4,178,498 | |
Nintendo Co. Ltd. | 41,000 | 18,712,019 | |
Square Enix Holdings Co. Ltd. | 31,900 | 1,273,632 | |
Toho Co. Ltd. | 41,600 | 1,543,670 | |
30,229,705 | |||
Interactive Media & Services - 0.4% | |||
Kakaku.com, Inc. | 49,600 | 1,038,714 | |
Z Holdings Corp. | 995,400 | 3,907,780 | |
4,946,494 | |||
Media - 0.4% | |||
CyberAgent, Inc. | 150,300 | 1,587,899 | |
Dentsu Group, Inc. | 80,300 | 2,894,145 | |
Hakuhodo DY Holdings, Inc. | 86,800 | 1,024,376 | |
5,506,420 | |||
Wireless Telecommunication Services - 4.1% | |||
KDDI Corp. | 599,100 | 19,839,017 | |
SoftBank Corp. | 1,067,000 | 12,417,601 | |
SoftBank Group Corp. | 448,000 | 18,426,349 | |
50,682,967 | |||
TOTAL COMMUNICATION SERVICES | 104,449,982 | ||
CONSUMER DISCRETIONARY - 18.6% | |||
Auto Components - 2.0% | |||
Aisin Seiki Co. Ltd. | 54,700 | 1,589,066 | |
Bridgestone Corp. | 212,100 | 7,774,250 | |
DENSO Corp. | 161,000 | 9,812,187 | |
Koito Manufacturing Co. Ltd. | 38,800 | 1,423,748 | |
Stanley Electric Co. Ltd. | 48,300 | 832,842 | |
Sumitomo Electric Industries Ltd. | 280,200 | 3,012,383 | |
24,444,476 | |||
Automobiles - 8.2% | |||
Honda Motor Co. Ltd. | 605,600 | 15,929,432 | |
Isuzu Motors Ltd. | 216,600 | 2,526,809 | |
Mazda Motor Corp. (a) | 211,200 | 1,499,680 | |
Nissan Motor Co. Ltd. (a) | 862,300 | 3,452,259 | |
Subaru Corp. | 228,600 | 3,468,939 | |
Suzuki Motor Corp. | 136,800 | 4,123,852 | |
Toyota Motor Corp. | 3,939,300 | 67,494,825 | |
Yamaha Motor Co. Ltd. | 110,600 | 2,283,414 | |
100,779,210 | |||
Hotels, Restaurants & Leisure - 1.0% | |||
McDonald's Holdings Co. (Japan) Ltd. | 29,600 | 1,174,316 | |
Oriental Land Co. Ltd. | 74,300 | 11,239,374 | |
12,413,690 | |||
Household Durables - 4.6% | |||
Iida Group Holdings Co. Ltd. | 54,700 | 869,983 | |
Open House Group Co. Ltd. | 30,400 | 1,176,318 | |
Panasonic Holdings Corp. | 820,400 | 7,312,386 | |
Rinnai Corp. | 13,000 | 830,953 | |
Sekisui Chemical Co. Ltd. | 140,100 | 1,897,113 | |
Sekisui House Ltd. | 228,900 | 3,975,522 | |
Sharp Corp. | 79,600 | 673,520 | |
Sony Group Corp. | 468,500 | 40,432,058 | |
57,167,853 | |||
Internet & Direct Marketing Retail - 0.3% | |||
Mercari, Inc. (a) | 38,600 | 632,553 | |
Rakuten Group, Inc. | 322,900 | 2,269,950 | |
ZOZO, Inc. | 46,300 | 969,406 | |
3,871,909 | |||
Leisure Products - 1.0% | |||
Bandai Namco Holdings, Inc. | 74,200 | 5,023,559 | |
SHIMANO, Inc. | 27,500 | 4,872,573 | |
Yamaha Corp. | 49,800 | 1,902,707 | |
11,798,839 | |||
Multiline Retail - 0.3% | |||
Pan Pacific International Holdings Ltd. | 153,200 | 2,346,008 | |
Ryohin Keikaku Co. Ltd. | 93,900 | 843,892 | |
3,189,900 | |||
Specialty Retail - 1.2% | |||
Fast Retailing Co. Ltd. | 21,700 | 9,990,815 | |
Hikari Tsushin, Inc. | 7,800 | 913,327 | |
Nitori Holdings Co. Ltd. | 29,800 | 3,065,805 | |
USS Co. Ltd. | 81,500 | 1,356,816 | |
15,326,763 | |||
TOTAL CONSUMER DISCRETIONARY | 228,992,640 | ||
CONSUMER STAPLES - 6.6% | |||
Beverages - 1.1% | |||
Asahi Group Holdings | 169,500 | 6,388,937 | |
ITO EN Ltd. | 19,900 | 817,801 | |
Kirin Holdings Co. Ltd. | 305,600 | 4,454,953 | |
Suntory Beverage & Food Ltd. | 51,600 | 2,033,092 | |
13,694,783 | |||
Food & Staples Retailing - 1.7% | |||
AEON Co. Ltd. | 242,900 | 4,616,376 | |
Cosmos Pharmaceutical Corp. | 7,400 | 682,188 | |
Kobe Bussan Co. Ltd. | 50,800 | 1,238,469 | |
Lawson, Inc. | 18,600 | 684,112 | |
Seven & i Holdings Co. Ltd. | 279,900 | 12,376,316 | |
Tsuruha Holdings, Inc. | 14,700 | 751,288 | |
Welcia Holdings Co. Ltd. | 35,000 | 717,467 | |
21,066,216 | |||
Food Products - 1.3% | |||
Ajinomoto Co., Inc. | 173,400 | 4,505,201 | |
Kikkoman Corp. | 54,000 | 3,034,863 | |
Meiji Holdings Co. Ltd. | 45,400 | 2,263,051 | |
Nisshin Seifun Group, Inc. | 73,500 | 979,816 | |
Nissin Food Holdings Co. Ltd. | 23,600 | 1,641,678 | |
Toyo Suisan Kaisha Ltd. | 32,900 | 1,015,832 | |
Yakult Honsha Co. Ltd. | 47,700 | 2,469,936 | |
15,910,377 | |||
Household Products - 0.5% | |||
Lion Corp. | 83,300 | 858,276 | |
Unicharm Corp. | 149,900 | 5,215,321 | |
6,073,597 | |||
Personal Products - 1.4% | |||
Kao Corp. | 176,400 | 7,069,843 | |
Kobayashi Pharmaceutical Co. Ltd. | 19,800 | 1,350,255 | |
Kose Corp. | 12,400 | 1,272,997 | |
Pola Orbis Holdings, Inc. | 34,000 | 391,990 | |
Shiseido Co. Ltd. | 148,600 | 7,024,537 | |
17,109,622 | |||
Tobacco - 0.6% | |||
Japan Tobacco, Inc. | 445,800 | 7,583,859 | |
TOTAL CONSUMER STAPLES | 81,438,454 | ||
ENERGY - 0.9% | |||
Oil, Gas & Consumable Fuels - 0.9% | |||
ENEOS Holdings, Inc. | 1,140,000 | 4,011,222 | |
Idemitsu Kosan Co. Ltd. | 77,500 | 2,042,518 | |
INPEX Corp. | 380,200 | 4,523,686 | |
10,577,426 | |||
FINANCIALS - 10.1% | |||
Banks - 5.1% | |||
Chiba Bank Ltd. | 196,900 | 1,134,792 | |
Concordia Financial Group Ltd. | 404,400 | 1,471,654 | |
Japan Post Bank Co. Ltd. | 153,200 | 1,155,785 | |
Mitsubishi UFJ Financial Group, Inc. | 4,440,500 | 25,814,299 | |
Mizuho Financial Group, Inc. | 896,100 | 10,881,081 | |
Resona Holdings, Inc. | 765,400 | 3,328,288 | |
Shizuoka Bank Ltd. | 165,800 | 1,072,738 | |
Sumitomo Mitsui Financial Group, Inc. | 485,000 | 14,653,764 | |
Sumitomo Mitsui Trust Holdings, Inc. | 125,500 | 3,895,209 | |
63,407,610 | |||
Capital Markets - 1.0% | |||
Daiwa Securities Group, Inc. | 536,600 | 2,629,946 | |
Japan Exchange Group, Inc. | 189,300 | 2,818,754 | |
Nomura Holdings, Inc. | 1,141,100 | 4,393,756 | |
SBI Holdings, Inc. Japan | 91,000 | 2,035,408 | |
11,877,864 | |||
Diversified Financial Services - 0.8% | |||
Mitsubishi UFJ Lease & Finance Co. Ltd. | 245,200 | 1,103,271 | |
ORIX Corp. | 453,700 | 8,275,021 | |
Tokyo Century Corp. | 13,700 | 421,989 | |
9,800,281 | |||
Insurance - 3.2% | |||
Dai-ichi Mutual Life Insurance Co. | 373,400 | 7,476,969 | |
Japan Post Holdings Co. Ltd. | 909,800 | 6,379,390 | |
Japan Post Insurance Co. Ltd. | 74,200 | 1,199,799 | |
MS&AD Insurance Group Holdings, Inc. | 165,400 | 4,923,506 | |
Sompo Holdings, Inc. | 116,200 | 4,730,501 | |
T&D Holdings, Inc. | 196,900 | 2,530,252 | |
Tokio Marine Holdings, Inc. | 233,200 | 12,608,821 | |
39,849,238 | |||
TOTAL FINANCIALS | 124,934,993 | ||
HEALTH CARE - 9.3% | |||
Health Care Equipment & Supplies - 2.7% | |||
ASAHI INTECC Co. Ltd. | 80,700 | 1,559,442 | |
Hoya Corp. | 137,300 | 13,625,946 | |
Olympus Corp. | 410,200 | 7,219,983 | |
Sysmex Corp. | 62,300 | 4,086,729 | |
Terumo Corp. | 239,800 | 7,137,682 | |
33,629,782 | |||
Health Care Providers & Services - 0.1% | |||
Medipal Holdings Corp. | 68,100 | 1,121,498 | |
Health Care Technology - 0.4% | |||
M3, Inc. | 163,900 | 5,233,974 | |
Pharmaceuticals - 6.1% | |||
Astellas Pharma, Inc. | 691,600 | 10,530,106 | |
Chugai Pharmaceutical Co. Ltd. | 249,500 | 7,476,309 | |
Daiichi Sankyo Kabushiki Kaisha | 650,900 | 16,388,956 | |
Eisai Co. Ltd. | 88,100 | 3,836,837 | |
Kyowa Hakko Kirin Co., Ltd. | 100,300 | 2,114,001 | |
Nippon Shinyaku Co. Ltd. | 18,300 | 1,237,699 | |
Ono Pharmaceutical Co. Ltd. | 137,400 | 3,529,882 | |
Otsuka Holdings Co. Ltd. | 145,000 | 4,872,354 | |
Santen Pharmaceutical Co. Ltd. | 133,900 | 1,089,234 | |
Shionogi & Co. Ltd. | 98,400 | 5,473,591 | |
Sumitomo Dainippon Pharma Co., Ltd. | 66,500 | 592,356 | |
Taisho Pharmaceutical Holdings Co. Ltd. | 14,200 | 559,309 | |
Takeda Pharmaceutical Co. Ltd. | 587,800 | 17,055,926 | |
74,756,560 | |||
TOTAL HEALTH CARE | 114,741,814 | ||
INDUSTRIALS - 21.5% | |||
Air Freight & Logistics - 0.3% | |||
SG Holdings Co. Ltd. | 118,900 | 2,095,337 | |
Yamato Holdings Co. Ltd. | 108,300 | 2,026,509 | |
4,121,846 | |||
Airlines - 0.2% | |||
Ana Holdings, Inc. (a) | 59,400 | 1,119,729 | |
Japan Airlines Co. Ltd. (a) | 53,600 | 884,908 | |
2,004,637 | |||
Building Products - 1.6% | |||
AGC, Inc. | 71,800 | 2,691,740 | |
Daikin Industries Ltd. | 92,500 | 14,135,638 | |
LIXIL Group Corp. | 98,900 | 1,739,485 | |
Toto Ltd. | 52,600 | 1,772,557 | |
20,339,420 | |||
Commercial Services & Supplies - 0.8% | |||
Dai Nippon Printing Co. Ltd. | 82,500 | 1,724,088 | |
Secom Co. Ltd. | 78,000 | 5,487,650 | |
Sohgo Security Services Co., Ltd. | 26,500 | 736,139 | |
Toppan, Inc. | 97,400 | 1,609,991 | |
9,557,868 | |||
Construction & Engineering - 0.5% | |||
Kajima Corp. | 166,900 | 1,860,014 | |
Obayashi Corp. | 241,200 | 1,658,767 | |
SHIMIZU Corp. | 205,000 | 1,074,945 | |
Taisei Corp. | 70,900 | 1,920,539 | |
6,514,265 | |||
Electrical Equipment - 1.6% | |||
Fuji Electric Co. Ltd. | 47,100 | 2,065,369 | |
Mitsubishi Electric Corp. | 678,000 | 7,101,570 | |
Nidec Corp. | 166,100 | 10,738,217 | |
19,905,156 | |||
Industrial Conglomerates - 1.9% | |||
Hitachi Ltd. | 359,700 | 17,059,300 | |
Toshiba Corp. | 144,800 | 6,013,302 | |
23,072,602 | |||
Machinery - 5.0% | |||
Daifuku Co. Ltd. | 37,600 | 2,311,974 | |
FANUC Corp. | 71,200 | 10,909,837 | |
Hino Motors Ltd. | 106,700 | 550,785 | |
Hitachi Construction Machinery Co. Ltd. | 40,000 | 905,654 | |
Hoshizaki Corp. | 20,200 | 1,279,516 | |
Komatsu Ltd. | 325,300 | 7,321,359 | |
Kubota Corp. | 381,600 | 6,482,877 | |
Kurita Water Industries Ltd. | 36,700 | 1,252,069 | |
Makita Corp. | 83,200 | 2,459,129 | |
Minebea Mitsumi, Inc. | 134,800 | 2,586,295 | |
Misumi Group, Inc. | 105,600 | 2,647,849 | |
Mitsubishi Heavy Industries Ltd. | 119,100 | 4,072,047 | |
Miura Co. Ltd. | 32,600 | 680,939 | |
NGK Insulators Ltd. | 94,300 | 1,268,488 | |
SMC Corp. | 21,300 | 10,313,895 | |
Toyota Industries Corp. | 54,500 | 3,268,737 | |
Yaskawa Electric Corp. | 89,200 | 3,028,828 | |
61,340,278 | |||
Marine - 0.6% | |||
Mitsui OSK Lines Ltd. | 127,800 | 2,991,942 | |
Nippon Yusen KK | 60,000 | 4,328,640 | |
7,320,582 | |||
Professional Services - 1.7% | |||
Benefit One, Inc. | 29,700 | 450,324 | |
Nihon M&A Center Holdings, Inc. | 112,500 | 1,385,304 | |
Persol Holdings Co. Ltd. | 65,900 | 1,307,432 | |
Recruit Holdings Co. Ltd. | 504,000 | 18,285,933 | |
21,428,993 | |||
Road & Rail - 2.4% | |||
Central Japan Railway Co. | 53,600 | 6,747,446 | |
East Japan Railway Co. | 112,300 | 5,856,084 | |
Hankyu Hanshin Holdings, Inc. | 85,000 | 2,243,286 | |
Keio Corp. | 38,200 | 1,465,068 | |
Keisei Electric Railway Co. | 48,000 | 1,176,934 | |
Kintetsu Group Holdings Co. Ltd. (a) | 63,700 | 1,826,359 | |
Nippon Express Holdings, Inc. | 28,500 | 1,670,977 | |
Odakyu Electric Railway Co. Ltd. | 109,500 | 1,658,165 | |
Tobu Railway Co. Ltd. | 70,100 | 1,575,720 | |
Tokyu Corp. | 185,700 | 2,270,890 | |
West Japan Railway Co. | 81,600 | 3,028,909 | |
29,519,838 | |||
Trading Companies & Distributors - 4.9% | |||
Itochu Corp. | 441,600 | 13,327,921 | |
Marubeni Corp. | 581,200 | 6,344,160 | |
Mitsubishi Corp. | 469,100 | 15,750,278 | |
Mitsui & Co. Ltd. | 579,600 | 14,035,482 | |
MonotaRO Co. Ltd. | 93,100 | 1,599,277 | |
Sumitomo Corp. | 418,400 | 6,620,612 | |
Toyota Tsusho Corp. | 78,900 | 2,834,660 | |
60,512,390 | |||
TOTAL INDUSTRIALS | 265,637,875 | ||
INFORMATION TECHNOLOGY - 13.6% | |||
Electronic Equipment & Components - 5.5% | |||
Azbil Corp. | 45,800 | 1,390,583 | |
Hamamatsu Photonics K.K. | 52,100 | 2,331,119 | |
Hirose Electric Co. Ltd. | 12,100 | 1,535,175 | |
Ibiden Co. Ltd. | 39,200 | 1,464,977 | |
Keyence Corp. | 72,300 | 29,064,907 | |
Kyocera Corp. | 119,200 | 6,258,829 | |
Murata Manufacturing Co. Ltd. | 213,400 | 12,720,240 | |
OMRON Corp. | 68,900 | 4,061,936 | |
Shimadzu Corp. | 88,000 | 2,876,910 | |
TDK Corp. | 144,400 | 4,460,765 | |
Yokogawa Electric Corp. | 84,800 | 1,351,923 | |
67,517,364 | |||
IT Services - 2.6% | |||
Fujitsu Ltd. | 73,000 | 11,033,889 | |
GMO Payment Gateway, Inc. | 15,600 | 1,308,839 | |
ITOCHU Techno-Solutions Corp. | 35,700 | 835,944 | |
NEC Corp. | 91,200 | 3,538,183 | |
Nomura Research Institute Ltd. | 124,800 | 3,528,898 | |
NTT Data Corp. | 234,400 | 4,321,847 | |
OBIC Co. Ltd. | 25,900 | 3,826,449 | |
Otsuka Corp. | 42,300 | 1,386,260 | |
SCSK Corp. | 58,000 | 922,103 | |
TIS, Inc. | 79,300 | 1,781,028 | |
32,483,440 | |||
Semiconductors & Semiconductor Equipment - 3.5% | |||
Advantest Corp. | 74,100 | 5,057,184 | |
Disco Corp. | 10,700 | 2,618,830 | |
Lasertec Corp. | 28,000 | 3,740,839 | |
Renesas Electronics Corp. (a) | 468,200 | 4,999,425 | |
ROHM Co. Ltd. | 32,500 | 2,270,478 | |
Sumco Corp. | 123,600 | 1,780,046 | |
Tokyo Electron Ltd. | 55,500 | 23,418,042 | |
43,884,844 | |||
Software - 0.3% | |||
Oracle Corp. Japan | 14,300 | 918,938 | |
Trend Micro, Inc. | 49,700 | 2,771,119 | |
3,690,057 | |||
Technology Hardware, Storage & Peripherals - 1.7% | |||
Brother Industries Ltd. | 87,700 | 1,524,191 | |
Canon, Inc. | 371,600 | 8,550,206 | |
FUJIFILM Holdings Corp. | 133,800 | 7,355,154 | |
Ricoh Co. Ltd. | 249,000 | 1,818,176 | |
Seiko Epson Corp. | 103,900 | 1,463,694 | |
20,711,421 | |||
TOTAL INFORMATION TECHNOLOGY | 168,287,126 | ||
MATERIALS - 4.8% | |||
Chemicals - 3.7% | |||
Asahi Kasei Corp. | 466,000 | 3,823,386 | |
JSR Corp. | 75,600 | 2,052,927 | |
Kansai Paint Co. Ltd. | 65,800 | 906,193 | |
Mitsubishi Chemical Holdings Corp. | 475,600 | 2,900,040 | |
Mitsubishi Gas Chemical Co., Inc. | 58,700 | 857,194 | |
Mitsui Chemicals, Inc. | 68,400 | 1,562,796 | |
Nippon Paint Holdings Co. Ltd. | 308,200 | 2,441,356 | |
Nippon Sanso Holdings Corp. | 56,300 | 1,013,146 | |
Nissan Chemical Corp. | 45,100 | 2,382,300 | |
Nitto Denko Corp. | 52,800 | 3,543,987 | |
Shin-Etsu Chemical Co. Ltd. | 131,600 | 18,086,381 | |
Sumitomo Chemical Co. Ltd. | 553,400 | 2,353,170 | |
Toray Industries, Inc. | 515,100 | 2,441,205 | |
Tosoh Corp. | 96,600 | 1,333,903 | |
45,697,984 | |||
Metals & Mining - 1.0% | |||
Hitachi Metals Ltd. (a) | 79,700 | 1,243,694 | |
JFE Holdings, Inc. | 182,600 | 2,232,970 | |
Nippon Steel & Sumitomo Metal Corp. | 317,700 | 5,044,628 | |
Sumitomo Metal Mining Co. Ltd. | 91,800 | 4,026,050 | |
12,547,342 | |||
Paper & Forest Products - 0.1% | |||
Oji Holdings Corp. | 301,400 | 1,427,733 | |
TOTAL MATERIALS | 59,673,059 | ||
REAL ESTATE - 3.5% | |||
Equity Real Estate Investment Trusts (REITs) - 1.4% | |||
Daiwa House REIT Investment Corp. | 819 | 1,993,448 | |
GLP J-REIT | 1,585 | 2,138,759 | |
Japan Real Estate Investment Corp. | 463 | 2,240,855 | |
Japan Retail Fund Investment Corp. | 2,596 | 2,063,376 | |
Nippon Building Fund, Inc. | 552 | 2,865,602 | |
Nippon Prologis REIT, Inc. | 767 | 2,122,880 | |
Nomura Real Estate Master Fund, Inc. | 1,576 | 1,978,730 | |
ORIX JREIT, Inc. | 974 | 1,316,576 | |
16,720,226 | |||
Real Estate Management & Development - 2.1% | |||
Daito Trust Construction Co. Ltd. | 24,300 | 2,340,379 | |
Daiwa House Industry Co. Ltd. | 210,400 | 5,058,057 | |
Hulic Co. Ltd. | 142,600 | 1,204,029 | |
Mitsubishi Estate Co. Ltd. | 439,400 | 6,400,555 | |
Mitsui Fudosan Co. Ltd. | 340,700 | 7,220,713 | |
Nomura Real Estate Holdings, Inc. | 44,100 | 1,074,529 | |
Sumitomo Realty & Development Co. Ltd. | 115,000 | 3,050,775 | |
26,349,037 | |||
TOTAL REAL ESTATE | 43,069,263 | ||
UTILITIES - 1.0% | |||
Electric Utilities - 0.6% | |||
Chubu Electric Power Co., Inc. | 239,300 | 2,415,749 | |
Kansai Electric Power Co., Inc. | 261,500 | 2,292,309 | |
Tokyo Electric Power Co., Inc. (a) | 567,100 | 1,957,491 | |
6,665,549 | |||
Gas Utilities - 0.4% | |||
Osaka Gas Co. Ltd. | 139,300 | 2,510,661 | |
Tokyo Gas Co. Ltd. | 139,200 | 2,666,300 | |
5,176,961 | |||
TOTAL UTILITIES | 11,842,510 | ||
TOTAL COMMON STOCKS | |||
(Cost $1,463,606,799) | 1,213,645,142 | ||
Principal Amount | Value | ||
Government Obligations - 0.0% | |||
U.S. Treasury Bills, yield at date of purchase 1.23% 1/26/23 (b) | $400,000 | $395,147 | |
(Cost $396,357) | |||
Shares | Value | ||
Money Market Funds - 0.1% | |||
Fidelity Cash Central Fund 0.32% (c) | |||
(Cost $1,756,401) | 1,756,050 | 1,756,401 | |
TOTAL INVESTMENT IN SECURITIES - 98.5% | |||
(Cost $1,465,759,557) | 1,215,796,690 | ||
NET OTHER ASSETS (LIABILITIES) - 1.5% | 18,112,770 | ||
NET ASSETS - 100% | $1,233,909,460 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount | Value | Unrealized Appreciation/(Depreciation) | |
Purchased | |||||
Equity Index Contracts | |||||
CME Yen Denominated Nikkei 225 Contracts (United States) | 189 | June 2022 | $19,464,342 | $156,509 | $156,509 |
The notional amount of futures purchased as a percentage of Net Assets is 1.6%
Legend
(a) Non-income producing
(b) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $395,147.
(c) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Fund | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain/Loss | Change in Unrealized appreciation (depreciation) | Value, end of period | % ownership, end of period |
Fidelity Cash Central Fund 0.32% | $1,114,474 | $10,687,955 | $10,046,028 | $1,236 | $-- | $-- | $1,756,401 | 0.0% |
Fidelity Securities Lending Cash Central Fund 0.32% | 1,042,500 | 2,098,845 | 3,141,345 | 1,631 | -- | -- | -- | 0.0% |
Total | $2,156,974 | $12,786,800 | $13,187,373 | $2,867 | $-- | $-- | $1,756,401 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable. Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Investment Valuation
The following is a summary of the inputs used, as of April 30, 2022, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
Valuation Inputs at Reporting Date: | ||||
Description | Total | Level 1 | Level 2 | Level 3 |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | $104,449,982 | $-- | $104,449,982 | $-- |
Consumer Discretionary | 228,992,640 | -- | 228,992,640 | -- |
Consumer Staples | 81,438,454 | -- | 81,438,454 | -- |
Energy | 10,577,426 | -- | 10,577,426 | -- |
Financials | 124,934,993 | -- | 124,934,993 | -- |
Health Care | 114,741,814 | -- | 114,741,814 | -- |
Industrials | 265,637,875 | -- | 265,637,875 | -- |
Information Technology | 168,287,126 | -- | 168,287,126 | -- |
Materials | 59,673,059 | -- | 59,673,059 | -- |
Real Estate | 43,069,263 | -- | 43,069,263 | -- |
Utilities | 11,842,510 | -- | 11,842,510 | -- |
Government Obligations | 395,147 | -- | 395,147 | -- |
Money Market Funds | 1,756,401 | 1,756,401 | -- | -- |
Total Investments in Securities: | $1,215,796,690 | $1,756,401 | $1,214,040,289 | $-- |
Derivative Instruments: | ||||
Assets | ||||
Futures Contracts | $156,509 | $156,509 | $-- | $-- |
Total Assets | $156,509 | $156,509 | $-- | $-- |
Total Derivative Instruments: | $156,509 | $156,509 | $-- | $-- |
Value of Derivative Instruments
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2022. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
Primary Risk Exposure / Derivative Type | Value | |
Asset | Liability | |
Equity Risk | ||
Futures Contracts(a) | $156,509 | $0 |
Total Equity Risk | 156,509 | 0 |
Total Value of Derivatives | $156,509 | $0 |
(a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
See accompanying notes which are an integral part of the financial statements.
Financial Statements
Statement of Assets and Liabilities
April 30, 2022 (Unaudited) | ||
Assets | ||
Investment in securities, at value — See accompanying schedule: Unaffiliated issuers (cost $1,464,003,156) | $1,214,040,289 | |
Fidelity Central Funds (cost $1,756,401) | 1,756,401 | |
Total Investment in Securities (cost $1,465,759,557) | $1,215,796,690 | |
Segregated cash with brokers for derivative instruments | 623,580 | |
Cash | 1 | |
Foreign currency held at value (cost $4,772,918) | 4,565,358 | |
Dividends receivable | 13,489,556 | |
Distributions receivable from Fidelity Central Funds | 411 | |
Prepaid expenses | 336 | |
Total assets | 1,234,475,932 | |
Liabilities | ||
Accrued management fee | $106,354 | |
Payable for daily variation margin on futures contracts | 407,917 | |
Other payables and accrued expenses | 52,201 | |
Total liabilities | 566,472 | |
Net Assets | $1,233,909,460 | |
Net Assets consist of: | ||
Paid in capital | $1,503,870,376 | |
Total accumulated earnings (loss) | (269,960,916) | |
Net Assets | $1,233,909,460 | |
Net Asset Value, offering price and redemption price per share ($1,233,909,460 ÷ 145,630,685 shares) | $8.47 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
Six months ended April 30, 2022 (Unaudited) | ||
Investment Income | ||
Dividends | $18,851,193 | |
Income from Fidelity Central Funds (including $1,631 from security lending) | 2,867 | |
Income before foreign taxes withheld | 18,854,060 | |
Less foreign taxes withheld | (1,882,535) | |
Total income | 16,971,525 | |
Expenses | ||
Management fee | $739,127 | |
Custodian fees and expenses | 55,104 | |
Independent trustees' fees and expenses | 2,541 | |
Registration fees | (8,808) | |
Audit | 29,303 | |
Legal | 1,001 | |
Interest | 9,980 | |
Miscellaneous | 1,210 | |
Total expenses | 829,458 | |
Net investment income (loss) | 16,142,067 | |
Realized and Unrealized Gain (Loss) | ||
Net realized gain (loss) on: | ||
Investment securities: | ||
Unaffiliated issuers | (28,901,166) | |
Foreign currency transactions | (755,653) | |
Futures contracts | (1,592,525) | |
Total net realized gain (loss) | (31,249,344) | |
Change in net unrealized appreciation (depreciation) on: | ||
Investment securities: | ||
Unaffiliated issuers | (220,976,221) | |
Assets and liabilities in foreign currencies | (787,449) | |
Futures contracts | 482,869 | |
Total change in net unrealized appreciation (depreciation) | (221,280,801) | |
Net gain (loss) | (252,530,145) | |
Net increase (decrease) in net assets resulting from operations | $(236,388,078) |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
Six months ended April 30, 2022 (Unaudited) | For the period May 27, 2021 (commencement of operations) through October 31, 2021 | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net investment income (loss) | $16,142,067 | $13,920,681 |
Net realized gain (loss) | (31,249,344) | (1,532,130) |
Change in net unrealized appreciation (depreciation) | (221,280,801) | (29,570,942) |
Net increase (decrease) in net assets resulting from operations | (236,388,078) | (17,182,391) |
Distributions to shareholders | (16,387,030) | – |
Share transactions | ||
Proceeds from sales of shares | – | 1,742,860,150 |
Reinvestment of distributions | 16,387,030 | – |
Cost of shares redeemed | (250,000,000) | (5,380,221) |
Net increase (decrease) in net assets resulting from share transactions | (233,612,970) | 1,737,479,929 |
Total increase (decrease) in net assets | (486,388,078) | 1,720,297,538 |
Net Assets | ||
Beginning of period | 1,720,297,538 | – |
End of period | $1,233,909,460 | $1,720,297,538 |
Other Information | ||
Shares | ||
Sold | – | 169,437,550 |
Issued in reinvestment of distributions | 1,622,478 | – |
Redeemed | (24,930,249) | (499,094) |
Net increase (decrease) | (23,307,771) | 168,938,456 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity SAI Japan Stock Index Fund
Six months ended (Unaudited) April 30, | Years endedOctober 31, | |
2022 | 2021 A | |
Selected Per–Share Data | ||
Net asset value, beginning of period | $10.18 | $10.00 |
Income from Investment Operations | ||
Net investment income (loss)B,C | .11 | .10 |
Net realized and unrealized gain (loss) | (1.72) | .08D |
Total from investment operations | (1.61) | .18 |
Distributions from net investment income | (.10) | – |
Total distributions | (.10) | – |
Net asset value, end of period | $8.47 | $10.18 |
Total ReturnE | (16.00)% | 1.80% |
Ratios to Average Net AssetsC,F,G | ||
Expenses before reductions | .11%H | .14%H,I |
Expenses net of fee waivers, if any | .11%H | .14%H,I |
Expenses net of all reductions | .11%H | .14%H,I |
Net investment income (loss) | 2.18%H | 2.27%H,I |
Supplemental Data | ||
Net assets, end of period (000 omitted) | $1,233,909 | $1,720,298 |
Portfolio turnover rateJ | 3%H | - %K,L |
A For the period May 27, 2021 (commencement of operations) through October 31, 2021.
B Calculated based on average shares outstanding during the period.
C Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any such underlying funds is not included in the Fund's net investment income (loss) ratio.
D The amount shown for a share outstanding does not correspond with the aggregate net gain (loss) on investments for the period due to the timing of sales and repurchases of shares in relation to fluctuating market values of the investments of the Fund.
E Total returns for periods of less than one year are not annualized.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Audit fees are not annualized.
J Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
K Amount represents less than 1%.
L Amount not annualized.
See accompanying notes which are an integral part of the financial statements.
Notes to Financial Statements (Unaudited)
For the period ended April 30, 2022
1. Organization.
Fidelity SAI Japan Stock Index Fund (the Fund) is a fund of Fidelity Concord Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered exclusively to certain clients of Fidelity Management & Research Company LLC (FMR) or its affiliates. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio(a) |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
(a) Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.
The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
- Level 1 – unadjusted quoted prices in active markets for identical investments
- Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
- Level 3 – unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value the Fund's investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2022 is included at the end of the Fund's Schedule of Investments.
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
Book-tax differences are primarily due to futures contracts, foreign currency transactions, passive foreign investment companies (PFIC), partnerships, capital loss carryforwards and losses deferred due to wash sales.
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:
Gross unrealized appreciation | $18,318,258 |
Gross unrealized depreciation | (268,815,159) |
Net unrealized appreciation (depreciation) | $(250,496,901) |
Tax cost | $1,466,450,100 |
Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
Short-term | $(89) |
Long-term | (92,727) |
Total capital loss carryforward | $(92,816) |
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objective allows the Fund to enter into various types of derivative contracts, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
The Fund used derivatives to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.
The Fund's use of derivatives increased or decreased its exposure to the following risk:
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
The Fund is also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that the Fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to the Fund. Counterparty credit risk related to exchange-traded futures contracts may be mitigated by the protection provided by the exchange on which they trade.
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Fund used futures contracts to manage its exposure to the stock market.
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments (variation margin) are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end and is representative of volume of activity during the period. Securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.
Purchases ($) | Sales ($) | |
Fidelity SAI Japan Stock Index Fund | 20,194,544 | 263,120,535 |
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee that is based on an annual rate of .10% of the Fund's average net assets.
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.
Interfund Lending Program. Pursuant to an Exemptive Order issued by the Securities and Exchange Commission (the SEC), the Fund, along with other registered investment companies having management contracts with Fidelity Management & Research Company LLC (FMR), or other affiliated entities of FMR, may participate in an interfund lending program. This program provides an alternative credit facility allowing the Fund to borrow from, or lend money to, other participating affiliated funds. At period end, there were no interfund loans outstanding. Activity in this program during the period for which loans were outstanding was as follows:
Borrower or Lender | Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity SAI Japan Stock Index Fund | Borrower | $76,740,889 | .32% | $6,043 |
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period there were no interfund trades.
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The participating funds have agreed to pay commitment fees on their pro-rata portion of the line of credit, which are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below. During the period, there were no borrowings on this line of credit.
Amount | |
Fidelity SAI Japan Stock Index Fund | $74 |
8. Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Affiliated security lending activity, if any, was as follows:
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity SAI Japan Stock Index Fund | $172 | $– | $– |
9. Bank Borrowings.
The Fund is permitted to have bank borrowings for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity requirements. The Fund has established borrowing arrangements with certain banks. The interest rate on the borrowings is the bank's base rate, as revised from time to time. Any open loans, including accrued interest, at period end are presented under the caption "Notes payable" in the Statement of Assets and Liabilities, if applicable. Activity in this program during the period for which loans were outstanding was as follows:
Average Loan Balance | Weighted Average Interest Rate | Interest Expense | |
Fidelity SAI Japan Stock Index Fund | $248,660,000 | .57% | $3,937 |
10. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
At the end of the period, the following mutual funds managed by the investment adviser or its affiliates were the owners of record of 10% or more of the total outstanding shares.
Strategic Advisers Fidelity International Fund | Strategic Advisers International Fund | |
Fidelity SAI Japan Stock Index Fund | 12% | 88% |
Mutual funds managed by the investment adviser or its affiliates, in aggregate, were the owners of record of more than 20% of the total outstanding shares.
Fund | % of shares held |
Fidelity SAI Japan Stock Index Fund | 100% |
11. Coronavirus (COVID-19) Pandemic.
An outbreak of COVID-19 first detected in China during December 2019 has since spread globally and was declared a pandemic by the World Health Organization during March 2020. Developments that disrupt global economies and financial markets, such as the COVID-19 pandemic, may magnify factors that affect the Fund's performance.
Shareholder Expense Example
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2021 to April 30, 2022).
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Annualized Expense Ratio-A | Beginning Account Value November 1, 2021 | Ending Account Value April 30, 2022 | Expenses Paid During Period-B November 1, 2021 to April 30, 2022 | |
Fidelity SAI Japan Stock Index Fund | .11% | |||
Actual | $1,000.00 | $840.00 | $.50 | |
Hypothetical-C | $1,000.00 | $1,024.25 | $.55 |
A Annualized expense ratio reflects expenses net of applicable fee waivers.
B Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/ 365 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
C 5% return per year before expenses
Liquidity Risk Management Program
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Fund has adopted and implemented a liquidity risk management program pursuant to the Liquidity Rule (the Program) effective December 1, 2018. The Program is reasonably designed to assess and manage the Fund’s liquidity risk and to comply with the requirements of the Liquidity Rule. The Fund’s Board of Trustees (the Board) has designated the Fund’s investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund’s liquidity risk based on a variety of factors including (1) the Fund’s investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) in the case of exchange-traded funds, certain additional factors including the effect of the Fund’s prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund’s portfolio, as applicable.
In accordance with the Program, each of the Fund’s portfolio investments is classified into one of four liquidity categories described below based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
- Highly liquid investments – cash or convertible to cash within three business days or less
- Moderately liquid investments – convertible to cash in three to seven calendar days
- Less liquid investments – can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments – cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund’s illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund’s net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM). The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund’s Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of implementation of the Program for the annual period from December 1, 2020 through November 30, 2021. The report concluded that the Program has been implemented and is operating effectively and is reasonably designed to assess and manage the Fund’s liquidity risk.
JSI-SANN-0622
1.9901433.100
Fidelity® Series International Index Fund
Semi-Annual Report
April 30, 2022
Contents
To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.
The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2022 FMR LLC. All rights reserved.
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
Note to Shareholders:
Early in 2020, the outbreak and spread of COVID-19 emerged as a public health emergency that had a major influence on financial markets, primarily based on its impact on the global economy and corporate earnings. On March 11, 2020, the World Health Organization declared the COVID-19 outbreak a pandemic, citing sustained risk of further global spread. The pandemic prompted a number of measures to limit the spread of COVID-19, including travel and border restrictions, quarantines, and restrictions on large gatherings. In turn, these resulted in lower consumer activity, diminished demand for a wide range of products and services, disruption in manufacturing and supply chains, and – given the wide variability in outcomes regarding the outbreak – significant market uncertainty and volatility. To help stem the turmoil, the U.S. government took unprecedented action – in concert with the U.S. Federal Reserve and central banks around the world – to help support consumers, businesses, and the broader economy, and to limit disruption to the financial system.
In general, the overall impact of the pandemic lessened in 2021, amid a resilient economy and widespread distribution of three COVID-19 vaccines granted emergency use authorization from the U.S. Food and Drug Administration (FDA) early in the year. Still, the situation remains dynamic, and the extent and duration of its influence on financial markets and the economy is highly uncertain, due in part to a recent spike in cases based on highly contagious variants of the coronavirus.
Extreme events such as the COVID-19 crisis are exogenous shocks that can have significant adverse effects on mutual funds and their investments. Although multiple asset classes may be affected by market disruption, the duration and impact may not be the same for all types of assets. Fidelity is committed to helping you stay informed amid news about COVID-19 and during increased market volatility, and we continue to take extra steps to be responsive to customer needs. We encourage you to visit us online, where we offer ongoing updates, commentary, and analysis on the markets and our funds.
Investment Summary (Unaudited)
Top Ten Stocks as of April 30, 2022
% of fund's net assets | |
Nestle SA (Reg. S) (Switzerland, Food Products) | 2.4 |
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals) | 1.7 |
ASML Holding NV (Netherlands) (Netherlands, Semiconductors & Semiconductor Equipment) | 1.5 |
AstraZeneca PLC (United Kingdom) (United Kingdom, Pharmaceuticals) | 1.3 |
Shell PLC (London) (United Kingdom, Oil, Gas & Consumable Fuels) | 1.3 |
Novartis AG (Switzerland, Pharmaceuticals) | 1.3 |
Novo Nordisk A/S Series B (Denmark, Pharmaceuticals) | 1.2 |
Toyota Motor Corp. (Japan, Automobiles) | 1.2 |
LVMH Moet Hennessy Louis Vuitton SE (France, Textiles, Apparel & Luxury Goods) | 1.2 |
BHP Group Ltd. (Australia, Metals & Mining) | 1.1 |
14.2 |
Market Sectors as of April 30, 2022
% of fund's net assets | |
Financials | 16.9 |
Industrials | 14.3 |
Health Care | 12.9 |
Consumer Discretionary | 11.0 |
Consumer Staples | 10.2 |
Materials | 8.4 |
Information Technology | 8.0 |
Communication Services | 4.8 |
Energy | 4.1 |
Utilities | 3.8 |
Real Estate | 2.4 |
Geographic Diversification (% of fund's net assets)
As of April 30, 2022 | ||
Japan | 21.2% | |
United Kingdom | 14.2% | |
Switzerland | 10.2% | |
France | 10.1% | |
Australia | 7.8% | |
Germany | 7.8% | |
Netherlands | 5.3% | |
United States of America* | 3.3% | |
Sweden | 3.2% | |
Other | 16.9% |
* Includes Short-Term investments and Net Other Assets (Liabilities).
Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.
Asset Allocation as of April 30, 2022
% of fund's net assets | |
Stocks and Equity Futures | 100.0 |
Schedule of Investments April 30, 2022 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 96.3% | |||
Shares | Value | ||
Australia - 7.8% | |||
Ampol Ltd. | 4,315 | $101,451 | |
APA Group unit | 21,364 | 171,662 | |
Aristocrat Leisure Ltd. | 10,908 | 253,091 | |
ASX Ltd. | 3,506 | 211,972 | |
Aurizon Holdings Ltd. | 33,340 | 94,156 | |
Australia & New Zealand Banking Group Ltd. | 51,047 | 971,383 | |
BHP Group Ltd. | 91,670 | 3,063,193 | |
BlueScope Steel Ltd. | 8,953 | 127,272 | |
Brambles Ltd. | 25,974 | 191,800 | |
Cochlear Ltd. | 1,191 | 191,831 | |
Coles Group Ltd. | 24,152 | 317,566 | |
Commonwealth Bank of Australia | 30,899 | 2,245,848 | |
Computershare Ltd. | 9,839 | 173,462 | |
Crown Ltd. (a) | 6,762 | 61,224 | |
CSL Ltd. | 8,669 | 1,654,481 | |
Dexus unit | 19,474 | 152,259 | |
Dominos Pizza Enterprises Ltd. | 1,097 | 57,506 | |
Endeavour Group Ltd. | 24,281 | 132,916 | |
Evolution Mining Ltd. | 33,194 | 93,926 | |
Fortescue Metals Group Ltd. | 30,666 | 463,458 | |
Goodman Group unit | 30,447 | 506,757 | |
IDP Education Ltd. | 3,779 | 70,106 | |
Insurance Australia Group Ltd. | 44,638 | 142,542 | |
Lendlease Group unit | 12,472 | 106,840 | |
Macquarie Group Ltd. | 6,137 | 883,501 | |
Medibank Private Ltd. | 49,875 | 112,076 | |
Mineral Resources Ltd. | 3,078 | 125,069 | |
Mirvac Group unit | 71,375 | 120,630 | |
National Australia Bank Ltd. | 59,256 | 1,352,737 | |
Newcrest Mining Ltd. | 16,122 | 302,761 | |
Northern Star Resources Ltd. | 20,036 | 137,723 | |
Orica Ltd. | 7,379 | 84,791 | |
Origin Energy Ltd. | 31,896 | 152,563 | |
Qantas Airways Ltd. (a) | 16,775 | 65,000 | |
QBE Insurance Group Ltd. | 26,737 | 230,668 | |
Ramsay Health Care Ltd. | 3,312 | 187,947 | |
REA Group Ltd. | 956 | 85,646 | |
Reece Ltd. | 5,265 | 63,968 | |
Rio Tinto Ltd. | 6,723 | 531,815 | |
Santos Ltd. | 58,264 | 325,583 | |
Scentre Group unit | 93,975 | 195,798 | |
SEEK Ltd. | 6,084 | 119,218 | |
Sonic Healthcare Ltd. | 8,247 | 212,989 | |
South32 Ltd. | 84,465 | 281,297 | |
Stockland Corp. Ltd. unit | 43,213 | 125,077 | |
Suncorp Group Ltd. | 22,864 | 183,575 | |
Tabcorp Holdings Ltd. | 40,271 | 154,005 | |
Telstra Corp. Ltd. | 75,001 | 212,902 | |
The GPT Group unit | 34,677 | 123,273 | |
Transurban Group unit | 55,581 | 558,123 | |
Treasury Wine Estates Ltd. | 13,070 | 103,406 | |
Vicinity Centres unit | 70,050 | 91,402 | |
Washington H. Soul Pattinson & Co. Ltd. | 3,920 | 76,386 | |
Wesfarmers Ltd. | 20,529 | 710,367 | |
Westpac Banking Corp. | 66,430 | 1,112,038 | |
WiseTech Global Ltd. | 2,649 | 82,126 | |
Woodside Petroleum Ltd. | 17,558 | 381,994 | |
Woolworths Group Ltd. | 21,945 | 593,680 | |
TOTAL AUSTRALIA | 21,636,836 | ||
Austria - 0.2% | |||
Erste Group Bank AG | 6,225 | 193,820 | |
OMV AG | 2,667 | 136,331 | |
Raiffeisen International Bank-Holding AG | 2,679 | 30,496 | |
Verbund AG | 1,233 | 131,795 | |
Voestalpine AG | 2,090 | 54,388 | |
TOTAL AUSTRIA | 546,830 | ||
Bailiwick of Jersey - 0.9% | |||
Experian PLC | 16,713 | 577,173 | |
Ferguson PLC | 4,004 | 502,299 | |
Glencore Xstrata PLC | 179,585 | 1,106,543 | |
WPP PLC | 21,137 | 263,470 | |
TOTAL BAILIWICK OF JERSEY | 2,449,485 | ||
Belgium - 0.8% | |||
Ageas | 3,112 | 148,914 | |
Anheuser-Busch InBev SA NV | 15,726 | 904,866 | |
Colruyt NV | 973 | 35,729 | |
ELIA GROUP SA/NV | 559 | 88,981 | |
Groupe Bruxelles Lambert SA | 1,979 | 186,739 | |
KBC Group NV | 4,526 | 307,912 | |
Proximus | 2,823 | 49,341 | |
Sofina SA | 279 | 85,502 | |
Solvay SA Class A | 1,341 | 126,104 | |
UCB SA | 2,289 | 260,197 | |
Umicore SA | 3,569 | 137,205 | |
TOTAL BELGIUM | 2,331,490 | ||
Bermuda - 0.1% | |||
CK Infrastructure Holdings Ltd. | 12,081 | 81,226 | |
Hongkong Land Holdings Ltd. | 20,830 | 97,171 | |
Jardine Matheson Holdings Ltd. | 3,875 | 205,254 | |
TOTAL BERMUDA | 383,651 | ||
Cayman Islands - 0.7% | |||
Budweiser Brewing Co. APAC Ltd. (b) | 31,180 | 77,582 | |
Chow Tai Fook Jewellery Group Ltd. | 36,200 | 60,697 | |
CK Asset Holdings Ltd. | 36,226 | 245,581 | |
CK Hutchison Holdings Ltd. | 48,556 | 340,762 | |
ESR Cayman Ltd. (a)(b) | 35,823 | 108,745 | |
Futu Holdings Ltd. ADR (a)(c) | 922 | 29,495 | |
Grab Holdings Ltd. (a) | 19,653 | 57,976 | |
Melco Crown Entertainment Ltd. sponsored ADR (a) | 3,990 | 22,823 | |
Sands China Ltd. (a) | 44,062 | 97,120 | |
Sea Ltd. ADR (a) | 5,794 | 479,511 | |
SITC International Holdings Co. Ltd. | 24,000 | 79,787 | |
WH Group Ltd. (b) | 151,077 | 104,334 | |
Wharf Real Estate Investment Co. Ltd. | 29,814 | 140,501 | |
Xinyi Glass Holdings Ltd. | 33,050 | 73,133 | |
TOTAL CAYMAN ISLANDS | 1,918,047 | ||
Denmark - 2.7% | |||
A.P. Moller - Maersk A/S: | |||
Series A | 58 | 164,177 | |
Series B | 104 | 301,000 | |
Ambu A/S Series B | 2,959 | 38,948 | |
Carlsberg A/S Series B | 1,819 | 231,073 | |
Chr. Hansen Holding A/S | 1,911 | 148,885 | |
Coloplast A/S Series B | 2,153 | 290,071 | |
Danske Bank A/S | 12,494 | 191,644 | |
Demant A/S (a) | 1,961 | 86,173 | |
DSV A/S | 3,695 | 605,802 | |
Genmab A/S (a) | 1,190 | 418,454 | |
GN Store Nord A/S | 2,253 | 84,554 | |
Novo Nordisk A/S Series B | 30,494 | 3,483,216 | |
Novozymes A/S Series B | 3,721 | 259,389 | |
ORSTED A/S (b) | 3,426 | 379,020 | |
Pandora A/S | 1,812 | 159,105 | |
Rockwool International A/S Series B | 148 | 41,393 | |
Tryg A/S | 6,531 | 155,288 | |
Vestas Wind Systems A/S | 18,287 | 466,337 | |
TOTAL DENMARK | 7,504,529 | ||
Finland - 1.2% | |||
Elisa Corp. (A Shares) | 2,573 | 150,833 | |
Fortum Corp. | 8,043 | 133,722 | |
Kesko Oyj | 4,944 | 124,472 | |
Kone OYJ (B Shares) | 6,156 | 295,966 | |
Neste OYJ | 7,660 | 328,682 | |
Nokia Corp. | 97,628 | 494,981 | |
Nordea Bank ABP | 58,048 | 578,743 | |
Orion Oyj (B Shares) | 1,923 | 75,425 | |
Sampo Oyj (A Shares) | 9,032 | 438,571 | |
Stora Enso Oyj (R Shares) | 10,535 | 207,324 | |
UPM-Kymmene Corp. | 9,665 | 334,334 | |
Wartsila Corp. | 8,573 | 68,840 | |
TOTAL FINLAND | 3,231,893 | ||
France - 10.1% | |||
Accor SA (a) | 3,076 | 101,058 | |
Aeroports de Paris SA (a) | 537 | 75,959 | |
Air Liquide SA | 8,581 | 1,484,585 | |
Alstom SA | 5,745 | 126,277 | |
Amundi SA (b) | 1,102 | 66,263 | |
Arkema SA | 1,111 | 126,592 | |
AXA SA | 35,253 | 932,619 | |
bioMerieux SA | 750 | 71,401 | |
BNP Paribas SA | 20,367 | 1,056,057 | |
Bollore SA | 15,980 | 74,570 | |
Bouygues SA | 4,155 | 142,862 | |
Bureau Veritas SA | 5,326 | 152,998 | |
Capgemini SA | 2,903 | 590,990 | |
Carrefour SA | 11,239 | 238,352 | |
CNP Assurances | 3,110 | 68,341 | |
Compagnie de St. Gobain | 9,162 | 534,495 | |
Compagnie Generale des Etablissements Michelin SCA Series B | 3,072 | 380,498 | |
Covivio | 941 | 67,016 | |
Credit Agricole SA | 22,388 | 241,747 | |
Danone SA | 11,828 | 715,254 | |
Dassault Aviation SA | 455 | 76,351 | |
Dassault Systemes SA | 12,039 | 532,417 | |
Edenred SA | 4,519 | 226,954 | |
EDF SA | 11,162 | 101,474 | |
Eiffage SA | 1,507 | 148,814 | |
Engie SA (c) | 33,072 | 390,265 | |
EssilorLuxottica SA | 5,205 | 886,140 | |
Eurazeo SA | 726 | 55,785 | |
Faurecia SA | 2,206 | 47,954 | |
Gecina SA | 831 | 93,611 | |
Getlink SE | 7,961 | 145,679 | |
Hermes International SCA | 573 | 706,542 | |
Ipsen SA | 683 | 70,802 | |
Kering SA | 1,358 | 722,554 | |
Klepierre SA | 3,679 | 88,059 | |
L'Oreal SA | 4,544 | 1,653,152 | |
La Francaise des Jeux SAEM (b) | 1,726 | 64,451 | |
Legrand SA | 4,844 | 429,247 | |
LVMH Moet Hennessy Louis Vuitton SE | 5,027 | 3,253,149 | |
Orange SA | 36,112 | 429,928 | |
Orpea | 952 | 34,046 | |
Pernod Ricard SA | 3,793 | 782,815 | |
Publicis Groupe SA | 4,126 | 247,711 | |
Remy Cointreau SA | 412 | 81,672 | |
Renault SA (a) | 3,479 | 85,005 | |
Safran SA | 6,189 | 664,689 | |
Sanofi SA | 20,591 | 2,176,364 | |
Sartorius Stedim Biotech | 501 | 163,942 | |
Schneider Electric SA | 9,789 | 1,404,419 | |
SEB SA | 501 | 60,164 | |
Societe Generale Series A | 14,678 | 352,772 | |
Sodexo SA | 1,601 | 120,436 | |
Teleperformance | 1,064 | 381,881 | |
Thales SA | 1,932 | 247,344 | |
TotalEnergies SE | 45,422 | 2,230,355 | |
Ubisoft Entertainment SA (a) | 1,699 | 76,817 | |
Valeo SA | 4,172 | 75,852 | |
Veolia Environnement SA | 11,869 | 346,297 | |
VINCI SA | 9,751 | 946,177 | |
Vivendi SA | 14,033 | 161,177 | |
Wendel SA | 485 | 48,323 | |
Worldline SA (a)(b) | 4,316 | 169,810 | |
TOTAL FRANCE | 28,229,330 | ||
Germany - 7.3% | |||
adidas AG | 3,447 | 695,119 | |
Allianz SE | 7,396 | 1,668,790 | |
BASF AG | 16,631 | 875,838 | |
Bayer AG | 17,789 | 1,171,780 | |
Bayerische Motoren Werke AG (BMW) | 5,995 | 489,586 | |
Bechtle AG | 1,482 | 68,483 | |
Beiersdorf AG | 1,824 | 183,203 | |
Brenntag SE | 2,798 | 215,903 | |
Carl Zeiss Meditec AG | 729 | 91,566 | |
Commerzbank AG (a) | 18,136 | 118,398 | |
Continental AG | 1,992 | 136,534 | |
Covestro AG (b) | 3,498 | 150,608 | |
Daimler Truck Holding AG (a) | 7,451 | 200,393 | |
Delivery Hero AG (a)(b) | 2,953 | 103,807 | |
Deutsche Bank AG | 37,423 | 374,205 | |
Deutsche Borse AG | 3,441 | 599,059 | |
Deutsche Lufthansa AG (a) | 10,815 | 80,459 | |
Deutsche Post AG | 17,945 | 766,655 | |
Deutsche Telekom AG | 58,680 | 1,080,954 | |
E.ON AG | 40,656 | 423,105 | |
Evonik Industries AG | 3,796 | 99,290 | |
Fresenius Medical Care AG & Co. KGaA | 3,712 | 230,838 | |
Fresenius SE & Co. KGaA | 7,580 | 267,937 | |
GEA Group AG | 2,779 | 108,177 | |
Hannover Reuck SE | 1,092 | 169,730 | |
HeidelbergCement AG | 2,693 | 155,137 | |
HelloFresh AG (a) | 2,992 | 126,125 | |
Henkel AG & Co. KGaA | 1,909 | 121,147 | |
Infineon Technologies AG | 23,647 | 671,178 | |
KION Group AG | 1,307 | 72,703 | |
Knorr-Bremse AG | 1,314 | 93,707 | |
Lanxess AG | 1,484 | 57,366 | |
LEG Immobilien AG | 1,319 | 135,238 | |
Mercedes-Benz Group AG (Germany) | 15,498 | 1,081,779 | |
Merck KGaA | 2,340 | 434,134 | |
MTU Aero Engines AG | 967 | 195,011 | |
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | 2,537 | 604,163 | |
Nemetschek Se | 1,046 | 83,005 | |
Puma AG | 1,911 | 140,609 | |
Rational AG | 93 | 56,734 | |
RWE AG | 11,632 | 482,954 | |
SAP SE | 18,909 | 1,916,352 | |
Scout24 AG (b) | 1,512 | 95,631 | |
Siemens AG | 13,852 | 1,703,173 | |
Siemens Energy AG | 7,236 | 139,382 | |
Siemens Healthineers AG (b) | 5,107 | 273,071 | |
Symrise AG | 2,404 | 286,062 | |
Telefonica Deutschland Holding AG | 19,285 | 58,000 | |
Uniper SE | 1,656 | 42,567 | |
United Internet AG | 1,780 | 57,264 | |
Volkswagen AG | 588 | 127,515 | |
Vonovia SE | 13,359 | 532,236 | |
Zalando SE (a)(b) | 4,032 | 158,644 | |
TOTAL GERMANY | 20,271,304 | ||
Hong Kong - 2.1% | |||
AIA Group Ltd. | 219,045 | 2,151,845 | |
BOC Hong Kong (Holdings) Ltd. | 67,210 | 243,291 | |
CLP Holdings Ltd. | 29,736 | 290,175 | |
Galaxy Entertainment Group Ltd. | 39,635 | 226,164 | |
Hang Lung Properties Ltd. | 36,400 | 69,618 | |
Hang Seng Bank Ltd. | 13,876 | 245,681 | |
Henderson Land Development Co. Ltd. | 26,140 | 105,711 | |
Hong Kong & China Gas Co. Ltd. | 202,697 | 223,559 | |
Hong Kong Exchanges and Clearing Ltd. | 21,767 | 923,334 | |
Link (REIT) | 37,808 | 326,577 | |
MTR Corp. Ltd. | 28,111 | 149,357 | |
New World Development Co. Ltd. | 27,305 | 104,436 | |
Power Assets Holdings Ltd. | 25,303 | 170,258 | |
Sino Land Ltd. | 61,121 | 80,789 | |
Sun Hung Kai Properties Ltd. | 23,680 | 272,725 | |
Swire Pacific Ltd. (A Shares) | 8,856 | 50,443 | |
Swire Properties Ltd. | 21,565 | 51,682 | |
Techtronic Industries Co. Ltd. | 24,792 | 330,926 | |
TOTAL HONG KONG | 6,016,571 | ||
Ireland - 0.7% | |||
CRH PLC | 13,990 | 552,953 | |
DCC PLC (United Kingdom) | 1,786 | 135,323 | |
Flutter Entertainment PLC (Ireland) (a) | 3,017 | 303,177 | |
James Hardie Industries PLC CDI | 8,061 | 232,385 | |
Kerry Group PLC Class A | 2,882 | 318,071 | |
Kingspan Group PLC (Ireland) | 2,791 | 259,806 | |
Smurfit Kappa Group PLC | 4,457 | 188,334 | |
TOTAL IRELAND | 1,990,049 | ||
Isle of Man - 0.1% | |||
Entain PLC (a) | 10,615 | 199,459 | |
Israel - 0.7% | |||
Azrieli Group | 769 | 66,559 | |
Bank Hapoalim BM (Reg.) | 20,568 | 192,067 | |
Bank Leumi le-Israel BM | 26,307 | 278,118 | |
Check Point Software Technologies Ltd. (a) | 1,924 | 242,982 | |
CyberArk Software Ltd. (a) | 720 | 113,141 | |
Elbit Systems Ltd. (Israel) | 480 | 104,697 | |
Icl Group Ltd. | 12,790 | 141,268 | |
InMode Ltd. (a) | 899 | 22,574 | |
Israel Discount Bank Ltd. (Class A) | 22,351 | 133,209 | |
Kornit Digital Ltd. (a) | 843 | 56,060 | |
Mizrahi Tefahot Bank Ltd. | 2,554 | 95,230 | |
NICE Ltd. (a) | 1,143 | 235,275 | |
Teva Pharmaceutical Industries Ltd. sponsored ADR (a) | 19,970 | 173,939 | |
Wix.com Ltd. (a) | 1,031 | 77,799 | |
TOTAL ISRAEL | 1,932,918 | ||
Italy - 1.7% | |||
Amplifon SpA | 2,252 | 89,843 | |
Assicurazioni Generali SpA | 20,040 | 379,419 | |
Atlantia SpA | 8,966 | 213,889 | |
DiaSorin SpA | 456 | 59,732 | |
Enel SpA | 147,279 | 957,740 | |
Eni SpA | 45,702 | 638,859 | |
FinecoBank SpA | 11,038 | 153,443 | |
Infrastrutture Wireless Italiane SpA (b) | 6,094 | 65,025 | |
Intesa Sanpaolo SpA | 299,029 | 609,337 | |
Mediobanca SpA | 11,232 | 112,577 | |
Moncler SpA | 3,716 | 193,580 | |
Nexi SpA (a)(b) | 9,487 | 93,048 | |
Poste Italiane SpA (b) | 9,455 | 92,651 | |
Prysmian SpA | 4,613 | 150,037 | |
Recordati SpA | 1,892 | 91,172 | |
Snam SpA | 36,510 | 200,243 | |
Telecom Italia SpA | 183,180 | 53,492 | |
Terna - Rete Elettrica Naziona | 25,479 | 207,809 | |
UniCredit SpA | 38,291 | 354,386 | |
TOTAL ITALY | 4,716,282 | ||
Japan - 21.2% | |||
Advantest Corp. | 3,633 | 247,945 | |
AEON Co. Ltd. | 11,791 | 224,091 | |
AGC, Inc. | 3,494 | 130,988 | |
Aisin Seiki Co. Ltd. | 2,674 | 77,681 | |
Ajinomoto Co., Inc. | 8,483 | 220,402 | |
Ana Holdings, Inc. (a) | 2,863 | 53,969 | |
Asahi Group Holdings | 8,262 | 311,418 | |
ASAHI INTECC Co. Ltd. | 3,926 | 75,866 | |
Asahi Kasei Corp. | 22,693 | 186,189 | |
Astellas Pharma, Inc. | 33,713 | 513,305 | |
Azbil Corp. | 2,207 | 67,009 | |
Bandai Namco Holdings, Inc. | 3,637 | 246,236 | |
Benefit One, Inc. | 1,400 | 21,227 | |
Bridgestone Corp. | 10,384 | 380,612 | |
Brother Industries Ltd. | 4,274 | 74,280 | |
Canon, Inc. | 18,071 | 415,799 | |
Capcom Co. Ltd. | 3,194 | 84,280 | |
Central Japan Railway Co. | 2,640 | 332,337 | |
Chiba Bank Ltd. | 9,705 | 55,933 | |
Chubu Electric Power Co., Inc. | 11,695 | 118,062 | |
Chugai Pharmaceutical Co. Ltd. | 12,122 | 363,238 | |
Concordia Financial Group Ltd. | 19,726 | 71,785 | |
Cosmos Pharmaceutical Corp. | 334 | 30,791 | |
CyberAgent, Inc. | 7,272 | 76,828 | |
Dai Nippon Printing Co. Ltd. | 4,005 | 83,697 | |
Dai-ichi Mutual Life Insurance Co. | 18,211 | 364,657 | |
Daifuku Co. Ltd. | 1,870 | 114,984 | |
Daiichi Sankyo Kabushiki Kaisha | 31,746 | 799,330 | |
Daikin Industries Ltd. | 4,517 | 690,278 | |
Daito Trust Construction Co. Ltd. | 1,209 | 116,441 | |
Daiwa House Industry Co. Ltd. | 10,250 | 246,412 | |
Daiwa House REIT Investment Corp. | 40 | 97,360 | |
Daiwa Securities Group, Inc. | 26,156 | 128,194 | |
DENSO Corp. | 7,822 | 476,714 | |
Dentsu Group, Inc. | 3,963 | 142,833 | |
Disco Corp. | 548 | 134,123 | |
East Japan Railway Co. | 5,502 | 286,912 | |
Eisai Co. Ltd. | 4,321 | 188,184 | |
ENEOS Holdings, Inc. | 55,514 | 195,332 | |
FANUC Corp. | 3,521 | 539,516 | |
Fast Retailing Co. Ltd. | 1,097 | 505,066 | |
Fuji Electric Co. Ltd. | 2,311 | 101,339 | |
FUJIFILM Holdings Corp. | 6,500 | 357,313 | |
Fujitsu Ltd. | 3,528 | 533,254 | |
GLP J-REIT | 77 | 103,902 | |
GMO Payment Gateway, Inc. | 769 | 64,519 | |
Hakuhodo DY Holdings, Inc. | 4,280 | 50,511 | |
Hamamatsu Photonics K.K. | 2,541 | 113,692 | |
Hankyu Hanshin Holdings, Inc. | 4,175 | 110,185 | |
Hikari Tsushin, Inc. | 390 | 45,666 | |
Hino Motors Ltd. | 5,079 | 26,218 | |
Hirose Electric Co. Ltd. | 553 | 70,161 | |
Hitachi Construction Machinery Co. Ltd. | 1,983 | 44,898 | |
Hitachi Ltd. | 17,525 | 831,149 | |
Hitachi Metals Ltd. (a) | 3,847 | 60,031 | |
Honda Motor Co. Ltd. | 29,538 | 776,954 | |
Hoshizaki Corp. | 984 | 62,329 | |
Hoya Corp. | 6,728 | 667,701 | |
Hulic Co. Ltd. | 6,900 | 58,259 | |
Ibiden Co. Ltd. | 1,977 | 73,884 | |
Idemitsu Kosan Co. Ltd. | 3,807 | 100,334 | |
Iida Group Holdings Co. Ltd. | 2,637 | 41,941 | |
INPEX Corp. | 18,510 | 220,235 | |
Isuzu Motors Ltd. | 10,526 | 122,794 | |
ITO EN Ltd. | 989 | 40,643 | |
Itochu Corp. | 21,550 | 650,400 | |
ITOCHU Techno-Solutions Corp. | 1,765 | 41,329 | |
Japan Airlines Co. Ltd. (a) | 2,637 | 43,536 | |
Japan Exchange Group, Inc. | 9,263 | 137,930 | |
Japan Post Bank Co. Ltd. (c) | 7,462 | 56,295 | |
Japan Post Holdings Co. Ltd. | 44,303 | 310,646 | |
Japan Post Insurance Co. Ltd. | 3,567 | 57,678 | |
Japan Real Estate Investment Corp. | 23 | 111,317 | |
Japan Retail Fund Investment Corp. | 126 | 100,148 | |
Japan Tobacco, Inc. | 21,708 | 369,292 | |
JFE Holdings, Inc. | 8,920 | 109,080 | |
JSR Corp. | 3,641 | 98,872 | |
Kajima Corp. | 8,154 | 90,872 | |
Kakaku.com, Inc. | 2,424 | 50,763 | |
Kansai Electric Power Co., Inc. | 12,780 | 112,029 | |
Kansai Paint Co. Ltd. | 3,191 | 43,946 | |
Kao Corp. | 8,606 | 344,915 | |
KDDI Corp. | 29,200 | 966,949 | |
Keio Corp. | 1,873 | 71,834 | |
Keisei Electric Railway Co. | 2,319 | 56,861 | |
Keyence Corp. | 3,505 | 1,409,025 | |
Kikkoman Corp. | 2,642 | 148,483 | |
Kintetsu Group Holdings Co. Ltd. (a) | 3,087 | 88,508 | |
Kirin Holdings Co. Ltd. | 14,874 | 216,829 | |
Kobayashi Pharmaceutical Co. Ltd. | 981 | 66,899 | |
Kobe Bussan Co. Ltd. | 2,505 | 61,070 | |
Koei Tecmo Holdings Co. Ltd. | 1,048 | 32,137 | |
Koito Manufacturing Co. Ltd. | 1,872 | 68,692 | |
Komatsu Ltd. | 15,868 | 357,133 | |
Konami Holdings Corp. | 1,655 | 101,772 | |
Kose Corp. | 556 | 57,080 | |
Kubota Corp. | 18,643 | 316,720 | |
Kurita Water Industries Ltd. | 1,765 | 60,215 | |
Kyocera Corp. | 5,838 | 306,536 | |
Kyowa Hakko Kirin Co., Ltd. | 4,847 | 102,159 | |
Lasertec Corp. | 1,325 | 177,022 | |
Lawson, Inc. | 885 | 32,550 | |
Lion Corp. | 4,077 | 42,007 | |
LIXIL Group Corp. | 4,843 | 85,180 | |
M3, Inc. | 7,938 | 253,492 | |
Makita Corp. | 4,073 | 120,385 | |
Marubeni Corp. | 28,372 | 309,698 | |
Mazda Motor Corp. (a) | 10,272 | 72,939 | |
McDonald's Holdings Co. (Japan) Ltd. | 1,514 | 60,065 | |
Medipal Holdings Corp. | 3,296 | 54,280 | |
Meiji Holdings Co. Ltd. | 2,191 | 109,215 | |
Mercari, Inc. (a) | 1,843 | 30,202 | |
Minebea Mitsumi, Inc. | 6,611 | 126,840 | |
Misumi Group, Inc. | 5,167 | 129,559 | |
Mitsubishi Chemical Holdings Corp. | 23,147 | 141,142 | |
Mitsubishi Corp. | 22,835 | 766,697 | |
Mitsubishi Electric Corp. | 33,056 | 346,238 | |
Mitsubishi Estate Co. Ltd. | 21,384 | 311,492 | |
Mitsubishi Gas Chemical Co., Inc. | 2,870 | 41,911 | |
Mitsubishi Heavy Industries Ltd. | 5,812 | 198,713 | |
Mitsubishi UFJ Financial Group, Inc. | 216,421 | 1,258,137 | |
Mitsubishi UFJ Lease & Finance Co. Ltd. | 12,078 | 54,345 | |
Mitsui & Co. Ltd. | 28,229 | 683,588 | |
Mitsui Chemicals, Inc. | 3,310 | 75,627 | |
Mitsui Fudosan Co. Ltd. | 16,641 | 352,685 | |
Mitsui OSK Lines Ltd. | 6,200 | 145,149 | |
Miura Co. Ltd. | 1,550 | 32,376 | |
Mizuho Financial Group, Inc. | 43,699 | 530,624 | |
MonotaRO Co. Ltd. | 4,522 | 77,679 | |
MS&AD Insurance Group Holdings, Inc. | 8,043 | 239,418 | |
Murata Manufacturing Co. Ltd. | 10,361 | 617,593 | |
NEC Corp. | 4,435 | 172,060 | |
Nexon Co. Ltd. | 8,914 | 202,982 | |
NGK Insulators Ltd. | 4,641 | 62,429 | |
Nidec Corp. | 8,049 | 520,361 | |
Nihon M&A Center Holdings, Inc. | 5,496 | 67,677 | |
Nintendo Co. Ltd. | 1,987 | 906,848 | |
Nippon Building Fund, Inc. | 27 | 140,165 | |
Nippon Express Holdings, Inc. | 1,423 | 83,432 | |
Nippon Paint Holdings Co. Ltd. | 15,005 | 118,860 | |
Nippon Prologis REIT, Inc. | 37 | 102,408 | |
Nippon Sanso Holdings Corp. | 2,750 | 49,488 | |
Nippon Shinyaku Co. Ltd. | 875 | 59,180 | |
Nippon Steel & Sumitomo Metal Corp. | 15,482 | 245,832 | |
Nippon Telegraph & Telephone Corp. | 21,645 | 637,864 | |
Nippon Yusen KK | 2,955 | 213,186 | |
Nissan Chemical Corp. | 2,207 | 116,580 | |
Nissan Motor Co. Ltd. (a) | 42,064 | 168,405 | |
Nisshin Seifun Group, Inc. | 3,620 | 48,258 | |
Nissin Food Holdings Co. Ltd. | 1,106 | 76,936 | |
Nitori Holdings Co. Ltd. | 1,435 | 147,632 | |
Nitto Denko Corp. | 2,563 | 172,031 | |
Nomura Holdings, Inc. | 55,585 | 214,028 | |
Nomura Real Estate Holdings, Inc. | 2,193 | 53,434 | |
Nomura Real Estate Master Fund, Inc. | 77 | 96,677 | |
Nomura Research Institute Ltd. | 6,039 | 170,761 | |
NTT Data Corp. | 11,445 | 211,022 | |
Obayashi Corp. | 11,793 | 81,102 | |
OBIC Co. Ltd. | 1,216 | 179,651 | |
Odakyu Electric Railway Co. Ltd. | 5,293 | 80,152 | |
Oji Holdings Corp. | 14,655 | 69,421 | |
Olympus Corp. | 19,953 | 351,195 | |
OMRON Corp. | 3,311 | 195,197 | |
Ono Pharmaceutical Co. Ltd. | 6,721 | 172,666 | |
Open House Group Co. Ltd. | 1,500 | 58,042 | |
Oracle Corp. Japan | 664 | 42,670 | |
Oriental Land Co. Ltd. | 3,634 | 549,716 | |
ORIX Corp. | 22,104 | 403,154 | |
ORIX JREIT, Inc. | 48 | 64,883 | |
Osaka Gas Co. Ltd. | 6,736 | 121,406 | |
Otsuka Corp. | 2,075 | 68,002 | |
Otsuka Holdings Co. Ltd. | 7,054 | 237,032 | |
Pan Pacific International Holdings Ltd. | 7,494 | 114,758 | |
Panasonic Holdings Corp. | 40,009 | 356,608 | |
Persol Holdings Co. Ltd. | 3,200 | 63,487 | |
Pola Orbis Holdings, Inc. | 1,748 | 20,153 | |
Rakuten Group, Inc. | 15,746 | 110,693 | |
Recruit Holdings Co. Ltd. | 24,573 | 891,548 | |
Renesas Electronics Corp. (a) | 22,803 | 243,490 | |
Resona Holdings, Inc. | 37,277 | 162,096 | |
Ricoh Co. Ltd. | 12,125 | 88,536 | |
Rinnai Corp. | 662 | 42,315 | |
ROHM Co. Ltd. | 1,546 | 108,005 | |
Ryohin Keikaku Co. Ltd. | 4,604 | 41,377 | |
Santen Pharmaceutical Co. Ltd. | 6,509 | 52,949 | |
SBI Holdings, Inc. Japan | 4,397 | 98,348 | |
SCSK Corp. | 2,858 | 45,437 | |
Secom Co. Ltd. | 3,849 | 270,794 | |
Seiko Epson Corp. | 5,044 | 71,057 | |
Sekisui Chemical Co. Ltd. | 6,798 | 92,053 | |
Sekisui House Ltd. | 11,134 | 193,375 | |
Seven & i Holdings Co. Ltd. | 13,659 | 603,959 | |
SG Holdings Co. Ltd. | 5,837 | 102,864 | |
Sharp Corp. | 3,860 | 32,661 | |
Shimadzu Corp. | 4,274 | 139,726 | |
SHIMANO, Inc. | 1,324 | 234,592 | |
SHIMIZU Corp. | 10,023 | 52,557 | |
Shin-Etsu Chemical Co. Ltd. | 6,394 | 878,756 | |
Shionogi & Co. Ltd. | 4,841 | 269,285 | |
Shiseido Co. Ltd. | 7,269 | 343,616 | |
Shizuoka Bank Ltd. | 8,299 | 53,695 | |
SMC Corp. | 996 | 482,284 | |
SoftBank Corp. | 52,013 | 605,320 | |
SoftBank Group Corp. | 21,824 | 897,626 | |
Sohgo Security Services Co., Ltd. | 1,321 | 36,696 | |
Sompo Holdings, Inc. | 5,659 | 230,378 | |
Sony Group Corp. | 22,813 | 1,968,787 | |
Square Enix Holdings Co. Ltd. | 1,555 | 62,085 | |
Stanley Electric Co. Ltd. | 2,311 | 39,849 | |
Subaru Corp. | 11,128 | 168,864 | |
Sumco Corp. | 6,049 | 87,116 | |
Sumitomo Chemical Co. Ltd. | 26,926 | 114,495 | |
Sumitomo Corp. | 20,375 | 322,407 | |
Sumitomo Dainippon Pharma Co., Ltd. | 3,235 | 28,816 | |
Sumitomo Electric Industries Ltd. | 13,644 | 146,684 | |
Sumitomo Metal Mining Co. Ltd. | 4,486 | 196,741 | |
Sumitomo Mitsui Financial Group, Inc. | 23,687 | 715,678 | |
Sumitomo Mitsui Trust Holdings, Inc. | 6,155 | 191,036 | |
Sumitomo Realty & Development Co. Ltd. | 5,622 | 149,143 | |
Suntory Beverage & Food Ltd. | 2,532 | 99,763 | |
Suzuki Motor Corp. | 6,718 | 202,515 | |
Sysmex Corp. | 3,080 | 202,041 | |
T&D Holdings, Inc. | 9,596 | 123,313 | |
Taisei Corp. | 3,416 | 92,533 | |
Taisho Pharmaceutical Holdings Co. Ltd. | 714 | 28,123 | |
Takeda Pharmaceutical Co. Ltd. | 28,678 | 832,137 | |
TDK Corp. | 7,051 | 217,818 | |
Terumo Corp. | 11,680 | 347,657 | |
TIS, Inc. | 3,872 | 86,963 | |
Tobu Railway Co. Ltd. | 3,415 | 76,763 | |
Toho Co. Ltd. | 2,090 | 77,555 | |
Tokio Marine Holdings, Inc. | 11,356 | 614,004 | |
Tokyo Century Corp. | 673 | 20,730 | |
Tokyo Electric Power Co., Inc. (a) | 27,625 | 95,355 | |
Tokyo Electron Ltd. | 2,750 | 1,160,353 | |
Tokyo Gas Co. Ltd. | 6,815 | 130,538 | |
Tokyu Corp. | 9,017 | 110,267 | |
Toppan, Inc. | 4,738 | 78,318 | |
Toray Industries, Inc. | 25,102 | 118,966 | |
Toshiba Corp. | 7,044 | 292,526 | |
Tosoh Corp. | 4,727 | 65,273 | |
Toto Ltd. | 2,535 | 85,426 | |
Toyo Suisan Kaisha Ltd. | 1,647 | 50,853 | |
Toyota Industries Corp. | 2,641 | 158,399 | |
Toyota Motor Corp. | 191,990 | 3,289,501 | |
Toyota Tsusho Corp. | 3,857 | 138,571 | |
Trend Micro, Inc. | 2,420 | 134,932 | |
Tsuruha Holdings, Inc. | 760 | 38,842 | |
Unicharm Corp. | 7,274 | 253,077 | |
USS Co. Ltd. | 3,968 | 66,059 | |
Welcia Holdings Co. Ltd. | 1,755 | 35,976 | |
West Japan Railway Co. | 3,970 | 147,362 | |
Yakult Honsha Co. Ltd. | 2,314 | 119,820 | |
Yamaha Corp. | 2,423 | 92,576 | |
Yamaha Motor Co. Ltd. | 5,372 | 110,909 | |
Yamato Holdings Co. Ltd. | 5,312 | 99,398 | |
Yaskawa Electric Corp. | 4,298 | 145,941 | |
Yokogawa Electric Corp. | 4,179 | 66,624 | |
Z Holdings Corp. | 48,517 | 190,470 | |
ZOZO, Inc. | 2,282 | 47,779 | |
TOTAL JAPAN | 59,164,660 | ||
Luxembourg - 0.3% | |||
ArcelorMittal SA (Netherlands) | 11,568 | 337,296 | |
Aroundtown SA | 18,080 | 90,916 | |
Eurofins Scientific SA | 2,434 | 226,211 | |
InPost SA (a) | 3,769 | 23,107 | |
Tenaris SA | 8,549 | 130,647 | |
TOTAL LUXEMBOURG | 808,177 | ||
Multi-National - 0.1% | |||
HK Electric Investments & HK Electric Investments Ltd. unit | 47,254 | 46,642 | |
HKT Trust/HKT Ltd. unit | 68,292 | 97,815 | |
Unibail-Rodamco SE & WFD Unibail-Rodamco NV unit (a) | 2,258 | 159,358 | |
TOTAL MULTI-NATIONAL | 303,815 | ||
Netherlands - 5.3% | |||
ABN AMRO Bank NV rights (a)(d) | 7,654 | 4,926 | |
ABN AMRO Group NV GDR (b) | 7,654 | 95,148 | |
Adyen BV (a)(b) | 359 | 602,148 | |
AEGON NV | 32,408 | 168,025 | |
AerCap Holdings NV (a) | 2,438 | 113,879 | |
Airbus Group NV | 10,675 | 1,168,613 | |
Akzo Nobel NV | 3,394 | 294,418 | |
Argenx SE (a) | 830 | 239,130 | |
ASM International NV (Netherlands) | 848 | 254,817 | |
ASML Holding NV (Netherlands) | 7,484 | 4,247,458 | |
CNH Industrial NV | 18,531 | 262,516 | |
Davide Campari Milano NV | 9,461 | 106,750 | |
Euronext NV (b) | 1,551 | 124,269 | |
EXOR NV | 1,963 | 136,222 | |
Ferrari NV (Italy) | 2,283 | 480,696 | |
Heineken Holding NV | 2,085 | 162,760 | |
Heineken NV (Bearer) | 4,693 | 458,089 | |
IMCD NV | 1,032 | 164,318 | |
ING Groep NV (Certificaten Van Aandelen) | 70,688 | 669,713 | |
JDE Peet's BV | 1,853 | 54,514 | |
Just Eat Takeaway.com NV (a)(b) | 3,272 | 88,876 | |
Koninklijke Ahold Delhaize NV | 18,934 | 558,477 | |
Koninklijke DSM NV | 3,165 | 532,067 | |
Koninklijke KPN NV | 60,822 | 209,872 | |
Koninklijke Philips Electronics NV | 16,612 | 434,090 | |
NN Group NV | 4,891 | 239,569 | |
Prosus NV | 16,897 | 814,920 | |
QIAGEN NV (Germany) (a) | 4,180 | 192,769 | |
Randstad NV | 2,165 | 114,483 | |
Stellantis NV (Italy) | 36,870 | 495,004 | |
STMicroelectronics NV (France) | 12,367 | 456,925 | |
Universal Music Group NV | 13,131 | 304,723 | |
Wolters Kluwer NV | 4,754 | 480,072 | |
Wolters Kluwer NV rights (a)(d) | 4,754 | 5,166 | |
TOTAL NETHERLANDS | 14,735,422 | ||
New Zealand - 0.2% | |||
Auckland International Airport Ltd. (a) | 22,637 | 113,706 | |
Fisher & Paykel Healthcare Corp. | 10,448 | 143,578 | |
Mercury Nz Ltd. | 12,223 | 47,389 | |
Meridian Energy Ltd. | 23,300 | 70,717 | |
Ryman Healthcare Group Ltd. | 7,871 | 46,583 | |
Spark New Zealand Ltd. | 33,779 | 106,833 | |
Xero Ltd. (a) | 2,424 | 159,844 | |
TOTAL NEW ZEALAND | 688,650 | ||
Norway - 0.7% | |||
Adevinta ASA Class B (a) | 5,325 | 41,138 | |
Aker BP ASA | 2,282 | 81,762 | |
DNB Bank ASA | 16,842 | 326,353 | |
Equinor ASA | 17,697 | 598,151 | |
Gjensidige Forsikring ASA | 3,623 | 77,458 | |
Mowi ASA | 7,957 | 224,762 | |
Norsk Hydro ASA | 24,355 | 204,522 | |
Orkla ASA | 13,593 | 110,302 | |
Schibsted ASA: | |||
(A Shares) | 1,309 | 27,278 | |
(B Shares) | 1,777 | 34,158 | |
Telenor ASA | 12,660 | 178,550 | |
Yara International ASA | 2,998 | 152,443 | |
TOTAL NORWAY | 2,056,877 | ||
Portugal - 0.2% | |||
Energias de Portugal SA | 50,276 | 234,320 | |
Galp Energia SGPS SA Class B | 9,076 | 110,470 | |
Jeronimo Martins SGPS SA | 5,127 | 106,727 | |
TOTAL PORTUGAL | 451,517 | ||
Singapore - 1.2% | |||
Ascendas Real Estate Investment Trust | 60,751 | 124,994 | |
CapitaLand Investment Ltd. | 47,753 | 144,797 | |
CapitaMall Trust | 87,923 | 147,323 | |
City Developments Ltd. | 7,468 | 45,787 | |
DBS Group Holdings Ltd. | 32,798 | 795,700 | |
Genting Singapore Ltd. | 109,494 | 63,571 | |
Keppel Corp. Ltd. | 26,316 | 129,785 | |
Mapletree Commercial Trust | 39,777 | 53,497 | |
Mapletree Logistics Trust (REIT) | 56,468 | 72,523 | |
Oversea-Chinese Banking Corp. Ltd. | 61,328 | 544,506 | |
Singapore Airlines Ltd. (a) | 24,262 | 95,633 | |
Singapore Exchange Ltd. | 14,589 | 102,653 | |
Singapore Technologies Engineering Ltd. | 28,193 | 83,032 | |
Singapore Telecommunications Ltd. | 149,362 | 298,096 | |
United Overseas Bank Ltd. | 21,366 | 457,366 | |
UOL Group Ltd. | 8,444 | 44,369 | |
Venture Corp. Ltd. | 5,057 | 62,079 | |
Wilmar International Ltd. | 34,722 | 110,683 | |
TOTAL SINGAPORE | 3,376,394 | ||
Spain - 2.3% | |||
ACS Actividades de Construccion y Servicios SA | 4,218 | 108,003 | |
Aena SME SA (a)(b) | 1,358 | 192,713 | |
Amadeus IT Holding SA Class A (a) | 8,157 | 511,141 | |
Banco Bilbao Vizcaya Argentaria SA | 120,737 | 633,537 | |
Banco Santander SA (Spain) (c) | 313,986 | 917,577 | |
CaixaBank SA | 80,270 | 259,103 | |
Cellnex Telecom SA (b) | 9,225 | 429,980 | |
EDP Renovaveis SA | 5,218 | 123,495 | |
Enagas SA | 4,506 | 97,432 | |
Endesa SA | 5,754 | 120,589 | |
Ferrovial SA | 8,784 | 225,260 | |
Grifols SA | 5,398 | 90,410 | |
Iberdrola SA | 105,484 | 1,212,096 | |
Industria de Diseno Textil SA | 19,750 | 414,104 | |
Naturgy Energy Group SA | 3,511 | 105,619 | |
Red Electrica Corporacion SA | 7,841 | 157,873 | |
Repsol SA | 26,275 | 391,968 | |
Siemens Gamesa Renewable Energy SA (a) | 4,317 | 68,764 | |
Telefonica SA | 95,399 | 464,082 | |
TOTAL SPAIN | 6,523,746 | ||
Sweden - 3.2% | |||
Alfa Laval AB | 5,698 | 158,611 | |
ASSA ABLOY AB (B Shares) | 18,151 | 458,715 | |
Atlas Copco AB: | |||
(A Shares) | 12,205 | 553,337 | |
(B Shares) | 7,018 | 277,757 | |
Boliden AB | 4,953 | 214,768 | |
Electrolux AB (B Shares) | 4,101 | 62,542 | |
Embracer Group AB (a) | 10,132 | 67,722 | |
Epiroc AB: | |||
(A Shares) | 11,934 | 241,939 | |
(B Shares) | 7,062 | 123,203 | |
EQT AB | 5,358 | 151,641 | |
Ericsson (B Shares) | 52,851 | 421,604 | |
Essity AB (B Shares) | 11,022 | 290,661 | |
Evolution AB (b) | 3,116 | 319,696 | |
Fastighets AB Balder (a) | 1,904 | 94,376 | |
Getinge AB (B Shares) | 4,142 | 119,819 | |
H&M Hennes & Mauritz AB (B Shares) | 13,221 | 166,440 | |
Hexagon AB (B Shares) | 35,247 | 454,790 | |
Husqvarna AB (B Shares) | 7,581 | 72,468 | |
Industrivarden AB: | |||
(A Shares) | 2,362 | 60,520 | |
(C Shares) | 2,940 | 74,028 | |
Investor AB: | |||
(A Shares) | 9,008 | 188,146 | |
(B Shares) | 33,017 | 635,343 | |
Kinnevik AB (B Shares) (a) | 4,383 | 85,786 | |
L E Lundbergforetagen AB | 1,375 | 64,304 | |
Latour Investment AB (B Shares) | 2,680 | 71,000 | |
Lifco AB | 4,220 | 88,517 | |
Lundin Petroleum AB | 3,624 | 149,837 | |
Nibe Industrier AB (B Shares) | 25,830 | 253,248 | |
Sagax AB | 2,916 | 74,488 | |
Sandvik AB | 20,444 | 386,970 | |
Securitas AB (B Shares) | 5,685 | 67,122 | |
Sinch AB (a)(b) | 9,472 | 41,860 | |
Skandinaviska Enskilda Banken AB (A Shares) | 29,464 | 330,412 | |
Skanska AB (B Shares) | 6,159 | 117,650 | |
SKF AB (B Shares) | 6,924 | 113,088 | |
Svenska Cellulosa AB SCA (B Shares) | 10,972 | 212,339 | |
Svenska Handelsbanken AB (A Shares) | 26,407 | 266,349 | |
Swedbank AB (A Shares) | 16,396 | 259,372 | |
Swedish Match Co. AB | 28,606 | 227,841 | |
Tele2 AB (B Shares) | 9,065 | 120,150 | |
Telia Co. AB | 48,099 | 199,640 | |
Volvo AB: | |||
(A Shares) | 3,653 | 60,058 | |
(B Shares) | 25,863 | 412,604 | |
TOTAL SWEDEN | 8,810,761 | ||
Switzerland - 10.2% | |||
ABB Ltd. (Reg.) | 29,744 | 892,378 | |
Adecco SA (Reg.) | 2,893 | 111,641 | |
Alcon, Inc. (Switzerland) | 9,049 | 646,106 | |
Bachem Holding AG (B Shares) | 112 | 48,871 | |
Baloise Holdings AG | 829 | 144,197 | |
Barry Callebaut AG | 65 | 149,601 | |
Clariant AG (Reg.) | 3,905 | 66,671 | |
Coca-Cola HBC AG | 3,639 | 73,777 | |
Compagnie Financiere Richemont SA Series A | 9,452 | 1,098,235 | |
Credit Suisse Group AG | 47,991 | 325,730 | |
Ems-Chemie Holding AG | 127 | 113,300 | |
Geberit AG (Reg.) | 650 | 370,678 | |
Givaudan SA | 167 | 663,745 | |
Holcim AG | 9,479 | 463,481 | |
Julius Baer Group Ltd. | 4,005 | 191,390 | |
Kuehne & Nagel International AG | 984 | 275,270 | |
Lindt & Spruengli AG | 2 | 237,116 | |
Lindt & Spruengli AG (participation certificate) | 19 | 213,085 | |
Logitech International SA (Reg.) | 3,134 | 203,956 | |
Lonza Group AG | 1,349 | 795,417 | |
Nestle SA (Reg. S) | 50,973 | 6,580,307 | |
Novartis AG | 39,674 | 3,505,964 | |
Partners Group Holding AG | 411 | 435,453 | |
Roche Holding AG: | |||
(Bearer) | 588 | 236,226 | |
(participation certificate) | 12,712 | 4,713,788 | |
Schindler Holding AG: | |||
(participation certificate) | 743 | 142,749 | |
(Reg.) | 359 | 68,919 | |
SGS SA (Reg.) | 109 | 280,078 | |
Sika AG | 2,569 | 784,722 | |
Sonova Holding AG | 972 | 350,529 | |
Straumann Holding AG | 1,870 | 220,457 | |
Swatch Group AG (Bearer) | 528 | 135,507 | |
Swatch Group AG (Bearer) (Reg.) | 929 | 45,831 | |
Swiss Life Holding AG | 571 | 333,873 | |
Swiss Prime Site AG | 1,375 | 134,399 | |
Swiss Re Ltd. | 5,462 | 447,921 | |
Swisscom AG | 469 | 277,320 | |
Temenos Group AG | 1,217 | 122,851 | |
UBS Group AG | 63,690 | 1,081,242 | |
VAT Group AG (b) | 489 | 151,253 | |
Vifor Pharma AG | 883 | 154,770 | |
Zurich Insurance Group Ltd. | 2,725 | 1,240,611 | |
TOTAL SWITZERLAND | 28,529,415 | ||
United Kingdom - 14.2% | |||
3i Group PLC | 17,623 | 288,405 | |
Abrdn PLC | 39,474 | 92,690 | |
Admiral Group PLC | 3,526 | 110,989 | |
Anglo American PLC (United Kingdom) | 23,167 | 1,026,089 | |
Antofagasta PLC | 7,142 | 136,726 | |
Ashtead Group PLC | 8,079 | 417,743 | |
Associated British Foods PLC | 6,449 | 129,049 | |
AstraZeneca PLC (United Kingdom) | 28,052 | 3,743,294 | |
Auto Trader Group PLC (b) | 17,209 | 135,816 | |
Aveva Group PLC | 2,184 | 58,697 | |
Aviva PLC | 68,642 | 368,273 | |
BAE Systems PLC | 57,443 | 530,581 | |
Barclays PLC | 303,415 | 557,720 | |
Barratt Developments PLC | 18,511 | 113,251 | |
Berkeley Group Holdings PLC | 2,033 | 103,107 | |
BP PLC | 357,545 | 1,726,154 | |
British American Tobacco PLC (United Kingdom) | 39,474 | 1,654,448 | |
British Land Co. PLC | 15,933 | 102,631 | |
BT Group PLC | 161,629 | 358,426 | |
Bunzl PLC | 6,111 | 235,766 | |
Burberry Group PLC | 7,332 | 144,700 | |
Compass Group PLC | 32,300 | 681,590 | |
Croda International PLC | 2,527 | 245,439 | |
Diageo PLC | 42,212 | 2,105,908 | |
GlaxoSmithKline PLC | 91,116 | 2,053,989 | |
Halma PLC | 6,875 | 211,032 | |
Hargreaves Lansdown PLC | 6,441 | 73,739 | |
Hikma Pharmaceuticals PLC | 3,142 | 73,807 | |
HSBC Holdings PLC (United Kingdom) | 368,459 | 2,302,547 | |
Imperial Brands PLC | 17,136 | 356,695 | |
Informa PLC (a) | 27,206 | 192,997 | |
InterContinental Hotel Group PLC | 3,315 | 211,629 | |
Intertek Group PLC | 2,923 | 182,147 | |
J Sainsbury PLC | 31,661 | 92,379 | |
JD Sports Fashion PLC | 46,664 | 76,887 | |
Johnson Matthey PLC | 3,504 | 96,389 | |
Kingfisher PLC | 37,774 | 119,123 | |
Land Securities Group PLC | 12,749 | 119,567 | |
Legal & General Group PLC | 108,108 | 336,983 | |
Lloyds Banking Group PLC | 1,285,692 | 730,226 | |
London Stock Exchange Group PLC | 5,959 | 587,508 | |
M&G PLC | 47,074 | 124,979 | |
Melrose Industries PLC | 79,151 | 115,014 | |
Mondi PLC | 8,792 | 165,166 | |
National Grid PLC | 65,505 | 973,206 | |
NatWest Group PLC | 102,392 | 274,696 | |
Next PLC | 2,406 | 180,211 | |
NMC Health PLC (a) | 941 | 9 | |
Ocado Group PLC (a) | 8,842 | 101,123 | |
Pearson PLC | 13,700 | 133,024 | |
Persimmon PLC | 5,778 | 150,484 | |
Phoenix Group Holdings PLC | 12,667 | 95,945 | |
Prudential PLC | 49,731 | 619,074 | |
Reckitt Benckiser Group PLC | 12,935 | 1,008,744 | |
RELX PLC (London Stock Exchange) | 35,036 | 1,043,739 | |
Rentokil Initial PLC | 33,667 | 231,234 | |
Rio Tinto PLC | 20,340 | 1,437,146 | |
Rolls-Royce Holdings PLC (a) | 151,507 | 155,319 | |
Sage Group PLC | 18,527 | 170,015 | |
Schroders PLC | 2,251 | 79,461 | |
Segro PLC | 21,775 | 364,559 | |
Severn Trent PLC | 4,534 | 178,193 | |
Shell PLC (London) | 139,418 | 3,742,801 | |
Smith & Nephew PLC | 15,925 | 258,121 | |
Smiths Group PLC | 7,164 | 131,096 | |
Spirax-Sarco Engineering PLC | 1,336 | 201,596 | |
SSE PLC | 19,301 | 448,282 | |
St. James's Place PLC | 9,783 | 157,209 | |
Standard Chartered PLC (United Kingdom) | 47,388 | 323,960 | |
Taylor Wimpey PLC | 66,021 | 103,835 | |
Tesco PLC | 139,207 | 472,931 | |
Unilever PLC | 46,503 | 2,161,930 | |
United Utilities Group PLC | 12,353 | 177,518 | |
Vodafone Group PLC | 494,062 | 747,990 | |
Whitbread PLC | 3,651 | 127,445 | |
TOTAL UNITED KINGDOM | 39,541,191 | ||
United States of America - 0.1% | |||
Coca-Cola European Partners PLC | 3,714 | 185,514 | |
Fiverr International Ltd. (a)(c) | 529 | 28,169 | |
TOTAL UNITED STATES OF AMERICA | 213,683 | ||
TOTAL COMMON STOCKS | |||
(Cost $270,732,944) | 268,562,982 | ||
Nonconvertible Preferred Stocks - 0.5% | |||
Germany - 0.5% | |||
Bayerische Motoren Werke AG (BMW) (non-vtg.) | 1,045 | 76,984 | |
Fuchs Petrolub AG | 1,233 | 38,890 | |
Henkel AG & Co. KGaA | 3,197 | 205,284 | |
Porsche Automobil Holding SE (Germany) | 2,773 | 228,717 | |
Sartorius AG (non-vtg.) | 475 | 178,092 | |
Volkswagen AG | 3,360 | 520,351 | |
TOTAL NONCONVERTIBLE PREFERRED STOCK | |||
(Cost $1,444,031) | 1,248,318 | ||
Principal Amount | Value | ||
Government Obligations - 0.2% | |||
United States of America - 0.2% | |||
U.S. Treasury Bills, yield at date of purchase 1.23% 1/26/23 (Cost $495,446)(e) | 500,000 | 493,933 | |
Shares | Value | ||
Money Market Funds - 2.8% | |||
Fidelity Cash Central Fund 0.32% (f) | 6,432,355 | 6,433,642 | |
Fidelity Securities Lending Cash Central Fund 0.32% (f)(g) | 1,325,091 | 1,325,223 | |
TOTAL MONEY MARKET FUNDS | |||
(Cost $7,758,865) | 7,758,865 | ||
TOTAL INVESTMENT IN SECURITIES - 99.8% | |||
(Cost $280,431,286) | 278,064,098 | ||
NET OTHER ASSETS (LIABILITIES) - 0.2% | 687,266 | ||
NET ASSETS - 100% | $278,751,364 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount | Value | Unrealized Appreciation/(Depreciation) | |
Purchased | |||||
Equity Index Contracts | |||||
ICE E-mini MSCI EAFE Index Contracts (United States) | 89 | June 2022 | $8,884,870 | $(159,103) | $(159,103) |
The notional amount of futures purchased as a percentage of Net Assets is 3.2%
Categorizations in the Schedule of Investments are based on country or territory of incorporation.
Legend
(a) Non-income producing
(b) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $4,184,449 or 1.5% of net assets.
(c) Security or a portion of the security is on loan at period end.
(d) Security or a portion of the security purchased on a delayed delivery or when-issued basis.
(e) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $493,933.
(f) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
(g) Investment made with cash collateral received from securities on loan.
Affiliated Central Funds
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Fund | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain/Loss | Change in Unrealized appreciation (depreciation) | Value, end of period | % ownership, end of period |
Fidelity Cash Central Fund 0.32% | $4,835,293 | $58,923,349 | $57,325,000 | $5,273 | $-- | $-- | $6,433,642 | 0.0% |
Fidelity Securities Lending Cash Central Fund 0.32% | 410,825 | 3,734,808 | 2,820,410 | 3,542 | -- | -- | 1,325,223 | 0.0% |
Total | $5,246,118 | $62,658,157 | $60,145,410 | $8,815 | $-- | $-- | $7,758,865 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line-item in the Statement of Operations, if applicable. Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Investment Valuation
The following is a summary of the inputs used, as of April 30, 2022, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
Valuation Inputs at Reporting Date: | ||||
Description | Total | Level 1 | Level 2 | Level 3 |
Investments in Securities: | ||||
Equities: | ||||
Communication Services | $13,273,923 | $479,511 | $12,794,412 | $-- |
Consumer Discretionary | 30,239,037 | 50,992 | 30,188,045 | -- |
Consumer Staples | 28,951,810 | 185,514 | 28,766,296 | -- |
Energy | 11,667,332 | -- | 11,667,332 | -- |
Financials | 47,199,253 | 728,119 | 46,471,134 | -- |
Health Care | 36,478,093 | 196,522 | 36,281,571 | -- |
Industrials | 40,549,755 | 332,612 | 40,217,143 | -- |
Information Technology | 21,944,124 | 669,197 | 21,274,927 | -- |
Materials | 22,024,753 | 141,268 | 21,883,485 | -- |
Real Estate | 7,937,044 | 66,559 | 7,870,485 | -- |
Utilities | 9,546,176 | -- | 9,546,176 | -- |
Government Obligations | 493,933 | -- | 493,933 | -- |
Money Market Funds | 7,758,865 | 7,758,865 | -- | -- |
Total Investments in Securities: | $278,064,098 | $10,609,159 | $267,454,939 | $-- |
Derivative Instruments: | ||||
Liabilities | ||||
Futures Contracts | $(159,103) | $(159,103) | $-- | $-- |
Total Liabilities | $(159,103) | $(159,103) | $-- | $-- |
Total Derivative Instruments: | $(159,103) | $(159,103) | $-- | $-- |
Value of Derivative Instruments
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2022. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
Primary Risk Exposure / Derivative Type | Value | |
Asset | Liability | |
Equity Risk | ||
Futures Contracts(a) | $0 | $(159,103) |
Total Equity Risk | 0 | (159,103) |
Total Value of Derivatives | $0 | $(159,103) |
(a) Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
See accompanying notes which are an integral part of the financial statements.
Financial Statements
Statement of Assets and Liabilities
April 30, 2022 (Unaudited) | ||
Assets | ||
Investment in securities, at value (including securities loaned of $1,201,718) — See accompanying schedule: Unaffiliated issuers (cost $272,672,421) | $270,305,233 | |
Fidelity Central Funds (cost $7,758,865) | 7,758,865 | |
Total Investment in Securities (cost $280,431,286) | $278,064,098 | |
Foreign currency held at value (cost $166,242) | 164,033 | |
Receivable for fund shares sold | 1,181,490 | |
Dividends receivable | 1,088,487 | |
Reclaims receivable | 488,286 | |
Distributions receivable from Fidelity Central Funds | 3,964 | |
Receivable from investment adviser for expense reductions | 8,801 | |
Total assets | 280,999,159 | |
Liabilities | ||
Payable for investments purchased on a delayed delivery basis | $10,091 | |
Payable for fund shares redeemed | 761,157 | |
Payable for daily variation margin on futures contracts | 113,928 | |
Other payables and accrued expenses | 37,396 | |
Collateral on securities loaned | 1,325,223 | |
Total liabilities | 2,247,795 | |
Net Assets | $278,751,364 | |
Net Assets consist of: | ||
Paid in capital | $284,513,762 | |
Total accumulated earnings (loss) | (5,762,398) | |
Net Assets | $278,751,364 | |
Net Asset Value, offering price and redemption price per share ($278,751,364 ÷ 26,092,677 shares) | $10.68 |
See accompanying notes which are an integral part of the financial statements.
Statement of Operations
Six months ended April 30, 2022 (Unaudited) | ||
Investment Income | ||
Dividends | $4,237,011 | |
Non-Cash dividends | 263,687 | |
Interest | 881 | |
Income from Fidelity Central Funds (including $3,542 from security lending) | 8,815 | |
Income before foreign taxes withheld | 4,510,394 | |
Less foreign taxes withheld | (396,117) | |
Total income | 4,114,277 | |
Expenses | ||
Custodian fees and expenses | $73,120 | |
Independent trustees' fees and expenses | 471 | |
Total expenses before reductions | 73,591 | |
Expense reductions | (54,478) | |
Total expenses after reductions | 19,113 | |
Net investment income (loss) | 4,095,164 | |
Realized and Unrealized Gain (Loss) | ||
Net realized gain (loss) on: | ||
Investment securities: | ||
Unaffiliated issuers | (1,728,018) | |
Foreign currency transactions | 10,140 | |
Futures contracts | (1,667,456) | |
Total net realized gain (loss) | (3,385,334) | |
Change in net unrealized appreciation (depreciation) on: | ||
Investment securities: | ||
Unaffiliated issuers | (39,078,226) | |
Assets and liabilities in foreign currencies | (73,894) | |
Futures contracts | (252,141) | |
Total change in net unrealized appreciation (depreciation) | (39,404,261) | |
Net gain (loss) | (42,789,595) | |
Net increase (decrease) in net assets resulting from operations | $(38,694,431) |
See accompanying notes which are an integral part of the financial statements.
Statement of Changes in Net Assets
Six months ended April 30, 2022 (Unaudited) | Year ended October 31, 2021 | |
Increase (Decrease) in Net Assets | ||
Operations | ||
Net investment income (loss) | $4,095,164 | $5,713,091 |
Net realized gain (loss) | (3,385,334) | (39,738) |
Change in net unrealized appreciation (depreciation) | (39,404,261) | 41,811,602 |
Net increase (decrease) in net assets resulting from operations | (38,694,431) | 47,484,955 |
Distributions to shareholders | (7,139,987) | (2,911,605) |
Share transactions | ||
Proceeds from sales of shares | 60,099,891 | 124,316,809 |
Reinvestment of distributions | 7,139,987 | 2,911,605 |
Cost of shares redeemed | (16,307,229) | (27,378,788) |
Net increase (decrease) in net assets resulting from share transactions | 50,932,649 | 99,849,626 |
Total increase (decrease) in net assets | 5,098,231 | 144,422,976 |
Net Assets | ||
Beginning of period | 273,653,133 | 129,230,157 |
End of period | $278,751,364 | $273,653,133 |
Other Information | ||
Shares | ||
Sold | 5,081,071 | 10,345,101 |
Issued in reinvestment of distributions | 592,530 | 264,932 |
Redeemed | (1,392,500) | (2,344,720) |
Net increase (decrease) | 4,281,101 | 8,265,313 |
See accompanying notes which are an integral part of the financial statements.
Financial Highlights
Fidelity Series International Index Fund
Six months ended (Unaudited) April 30, | Years endedOctober 31, | ||||
2022 | 2021 | 2020 | 2019 | 2018 A | |
Selected Per–Share Data | |||||
Net asset value, beginning of period | $12.55 | $9.54 | $10.41 | $9.43 | $10.00 |
Income from Investment Operations | |||||
Net investment income (loss)B,C | .17 | .33 | .24 | .33 | .05 |
Net realized and unrealized gain (loss) | (1.74) | 2.90 | (.90) | .71 | (.62) |
Total from investment operations | (1.57) | 3.23 | (.66) | 1.04 | (.57) |
Distributions from net investment income | (.30) | (.22) | (.20) | (.06) | – |
Distributions from net realized gain | – | – | (.01) | – | – |
Total distributions | (.30) | (.22) | (.21) | (.06) | – |
Net asset value, end of period | $10.68 | $12.55 | $9.54 | $10.41 | $9.43 |
Total ReturnD,E | (12.76)% | 34.15% | (6.52)% | 11.06% | (5.70)% |
Ratios to Average Net AssetsC,F,G | |||||
Expenses before reductions | .05%H | .06% | .11% | .24% | 1.18%H |
Expenses net of fee waivers, if any | .01%H | .01% | .02% | .01% | .01%H |
Expenses net of all reductions | .01%H | .01% | .02% | .01% | .01%H |
Net investment income (loss) | 2.86%H | 2.73% | 2.47% | 3.33% | 2.29%H |
Supplemental Data | |||||
Net assets, end of period (000 omitted) | $278,751 | $273,653 | $129,230 | $102,589 | $9,630 |
Portfolio turnover rateI | 7%H | 6%J | 3% | 2% | 1%K |
A For the period August 17, 2018 (commencement of operations) through October 31, 2018.
B Calculated based on average shares outstanding during the period.
C Net investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any such underlying funds is not included in the Fund's net investment income (loss) ratio.
D Total returns for periods of less than one year are not annualized.
E Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
F Fees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
G Expense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
H Annualized
I Amount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
J Portfolio turnover rate excludes securities received or delivered in-kind.
K Amount not annualized.
See accompanying notes which are an integral part of the financial statements.
Notes to Financial Statements (Unaudited)
For the period ended April 30, 2022
1. Organization.
Fidelity Series International Index Fund (the Fund) is a fund of Fidelity Concord Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered only to certain other Fidelity funds, Fidelity managed 529 plans, and Fidelity managed collective investment trusts. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
Fidelity Central Fund | Investment Manager | Investment Objective | Investment Practices | Expense Ratio(a) |
Fidelity Money Market Central Funds | Fidelity Management & Research Company LLC (FMR) | Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity. | Short-term Investments | Less than .005% |
(a) Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.
The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
- Level 1 – unadjusted quoted prices in active markets for identical investments
- Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
- Level 3 – unobservable inputs (including the Fund's own assumptions based on the best information available)
Valuation techniques used to value the Fund's investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, ETFs and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2022 is included at the end of the Fund's Schedule of Investments.
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable.
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
Book-tax differences are primarily due to futures contracts, foreign currency transactions, partnerships, passive foreign investment companies (PFIC), capital loss carryforwards and losses deferred due to wash sales.
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:
Gross unrealized appreciation | $28,698,003 |
Gross unrealized depreciation | (34,433,885) |
Net unrealized appreciation (depreciation) | $(5,735,882) |
Tax cost | $283,640,877 |
Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
Short-term | $(224,047) |
Long-term | (578,038) |
Total capital loss carryforward | $(802,085) |
Delayed Delivery Transactions and When-Issued Securities. During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. Securities purchased on a delayed delivery or when-issued basis are identified as such in the Schedule of Investments. Compensation for interest forgone in the purchase of a delayed delivery or when-issued debt security may be received. With respect to purchase commitments, each applicable Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Payables and receivables associated with the purchases and sales of delayed delivery securities having the same coupon, settlement date and broker are offset. Delayed delivery or when-issued securities that have been purchased from and sold to different brokers are reflected as both payables and receivables in the Statement of Assets and Liabilities under the caption "Delayed delivery", as applicable. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.
Restricted Securities (including Private Placements). Funds may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities held at period end is included at the end of the Schedule of Investments, if applicable.
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objective allows the Fund to enter into various types of derivative contracts, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
The Fund used derivatives to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.
The Fund's use of derivatives increased or decreased its exposure to the following risk:
Equity Risk | Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment. |
The Fund is also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that the Fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to the Fund. Counterparty credit risk related to exchange-traded futures contracts may be mitigated by the protection provided by the exchange on which they trade.
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. The Fund used futures contracts to manage its exposure to the stock market.
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments (variation margin) are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end and is representative of volume of activity during the period. Securities deposited to meet initial margin requirements are identified in the Schedule of Investments.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities and in-kind transactions, as applicable, are noted in the table below.
Purchases ($) | Sales ($) | |
Fidelity Series International Index Fund | 52,211,062 | 10,226,191 |
Prior Year Unaffiliated Exchanges In-Kind. Shares that were exchanged for investments, including accrued interest and cash, if any, are shown in the table below. The amount of in-kind exchanges is included in share transactions in the accompanying Statement of Changes in Net Assets.
Shares | Total Proceeds ($) | |
Fidelity Series International Index Fund | 2,414,477 | 27,766,481 |
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund does not pay a management fee. Under the management contract, the investment adviser or an affiliate pays all ordinary operating expenses of the Fund, except custody fees, fees and expenses of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses.
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period there were no interfund trades.
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The commitment fees on the pro-rata portion of the line of credit are borne by the investment adviser. During the period, there were no borrowings on this line of credit.
8. Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Affiliated security lending activity, if any, was as follows:
Total Security Lending Fees Paid to NFS | Security Lending Income From Securities Loaned to NFS | Value of Securities Loaned to NFS at Period End | |
Fidelity Series International Index Fund | $392 | $– | $– |
9. Expense Reductions.
The investment adviser contractually agreed to reimburse the Fund to the extent annual operating expenses exceeded .013% of average net assets. This reimbursement will remain in place through February 28, 2025. Some expenses, for example the compensation of the independent Trustees, and certain other expenses such as interest expense, are excluded from this reimbursement. During the period this reimbursement reduced the Fund's expenses by $54,478.
10. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
At the end of the period, mutual funds and accounts managed by FMR or its affiliates were the owners of record of all of the outstanding shares of the Fund.
11. Coronavirus (COVID-19) Pandemic.
An outbreak of COVID-19 first detected in China during December 2019 has since spread globally and was declared a pandemic by the World Health Organization during March 2020. Developments that disrupt global economies and financial markets, such as the COVID-19 pandemic, may magnify factors that affect the Fund's performance.
Shareholder Expense Example
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2021 to April 30, 2022).
Actual Expenses
The first line of the accompanying table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
Annualized Expense Ratio-A | Beginning Account Value November 1, 2021 | Ending Account Value April 30, 2022 | Expenses Paid During Period-B November 1, 2021 to April 30, 2022 | |
Fidelity Series International Index Fund | .01% | |||
Actual | $1,000.00 | $872.40 | $.05 | |
Hypothetical-C | $1,000.00 | $1,024.74 | $.05 |
A Annualized expense ratio reflects expenses net of applicable fee waivers.
B Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/ 365 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
C 5% return per year before expenses
Liquidity Risk Management Program
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Fund has adopted and implemented a liquidity risk management program pursuant to the Liquidity Rule (the Program) effective December 1, 2018. The Program is reasonably designed to assess and manage the Fund’s liquidity risk and to comply with the requirements of the Liquidity Rule. The Fund’s Board of Trustees (the Board) has designated the Fund’s investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund’s liquidity risk based on a variety of factors including (1) the Fund’s investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) in the case of exchange-traded funds, certain additional factors including the effect of the Fund’s prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund’s portfolio, as applicable.
In accordance with the Program, each of the Fund’s portfolio investments is classified into one of four liquidity categories described below based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
- Highly liquid investments – cash or convertible to cash within three business days or less
- Moderately liquid investments – convertible to cash in three to seven calendar days
- Less liquid investments – can be sold or disposed of, but not settled, within seven calendar days
- Illiquid investments – cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund’s illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund’s net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM). The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund’s Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of implementation of the Program for the annual period from December 1, 2020 through November 30, 2021. The report concluded that the Program has been implemented and is operating effectively and is reasonably designed to assess and manage the Fund’s liquidity risk.
IIF-SANN-0622
1.9891250.103
Item 2.
Code of Ethics
Not applicable.
Item 3.
Audit Committee Financial Expert
Not applicable.
Item 4.
Principal Accountant Fees and Services
Not applicable.
Item 5.
Audit Committee of Listed Registrants
Not applicable.
Item 6.
Investments
(a)
Not applicable.
(b)
Not applicable
Item 7.
Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable.
Item 8.
Portfolio Managers of Closed-End Management Investment Companies
Not applicable.
Item 9.
Purchase of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable.
Item 10.
Submission of Matters to a Vote of Security Holders
There were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Concord Street Trust’s Board of Trustees.
Item 11.
Controls and Procedures
(a)(i) The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Concord Street Trust’s (the “Trust”) disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable
assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.
(a)(ii) There was no change in the Trust’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Trust’s internal control over financial reporting.
Item 12.
Disclosure of Securities Lending Activities for Closed-End Management
Investment Companies
Not applicable.
Item 13.
Exhibits
(a) | (1) | Not applicable. |
(a) | (2) | |
(a) | (3) | Not applicable. |
(b) |
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.
Fidelity Concord Street Trust
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | June 21, 2022 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/Stacie M. Smith |
Stacie M. Smith | |
President and Treasurer | |
Date: | June 21, 2022 |
By: | /s/John J. Burke III |
John J. Burke III | |
Chief Financial Officer | |
Date: | June 21, 2022 |