Table of Contents
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: 811-7704
Schwab Capital Trust
(Exact name of registrant as specified in charter)
211 Main Street, San Francisco, California 94105
(Address of principal executive offices) (Zip code)
Marie Chandoha
Schwab Capital Trust
211 Main Street, San Francisco, California 94105
(Name and address of agent for service)
Registrant’s telephone number, including area code: (415) 636-7000
Date of fiscal year end: October 31
Date of reporting period: October 31, 2016
Table of Contents
Item 1: Report(s) to Shareholders.
Table of Contents
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Total Return for the 12 Months Ended October 31, 2016 | |
Laudus Small-Cap MarketMasters Fund | |
Investor Shares (Ticker Symbol: SWOSX) | -0.64% |
Select Shares® (Ticker Symbol: SWMSX) | -0.50% |
Russell 2000® Index | 4.11% |
Fund Category: Morningstar Small Growth | 0.35% |
Performance Details | pages 8-11 |
Laudus International MarketMasters Fund | |
Investor Shares1 (Ticker Symbol: SWOIX) | -0.14% |
Select Shares®1 (Ticker Symbol: SWMIX) | 0.00% |
MSCI EAFE® Index (Net)2 | -3.23% |
Fund Category: Morningstar Foreign Large Growth | -1.81% |
Performance Details | pages 12-15 |
Minimum Initial Investment3 | |
Investor Shares | $ 100 |
Select Shares® | $ 50,000 |
1 | The fund’s performance relative to the index may be affected by fair-value pricing and timing differences in foreign exchange calculations. See financial note 2 for more information. |
2 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
3 | Please see the funds’ prospectus for further detail and eligibility requirements. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g20045imgf66d240a2.jpg)
President and CEO of
Charles Schwab Investment
Management, Inc. and the
funds covered in this report.
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![]() | Omar Aguilar, Ph.D. Senior Vice President and Chief Investment Officer of Equities and Multi-Asset Strategies, has overall responsibility for all aspects of the management of the funds. Prior to joining CSIM in 2011, Mr. Aguilar was with Financial Engines, where he was responsible for managing assets from leading retirement plan sponsors in the defined contribution market. Prior to joining Financial Engines in 2009, Mr. Aguilar was the head of quantitative equity for ING Investment Management, where he was responsible for building and developing the firm’s quantitative equity group. He joined ING in 2004 from Lehman Brothers, where he served as the head of quantitative research for its alternative investment management business. Prior to that, he was a director of quantitative research and portfolio manager with Merrill Lynch Investment Management and Bankers Trust. |
Number of Holdings | 1,902 |
Weighted Average Market Cap (millions) | $2,323 |
Price/Earnings Ratio (P/E) | 18.6 |
Price/Book Ratio (P/B) | 1.7 |
Portfolio Turnover Rate | 85% |
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1 | This list is not a recommendation of any security by the investment adviser. |
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1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Investor Shares (9/16/97) | -0.64% | 8.09% | 4.18% |
Select Shares® (6/9/04) | -0.50% | 8.27% | 4.34% |
Russell 2000® Index | 4.11% | 11.51% | 5.96% |
Fund Category: Morningstar Small Growth | 0.35% | 10.24% | 6.51% |
Fund Expense Ratios3: Investor Shares: Net 1.35%; Gross 1.55% / Select Shares: Net 1.20%; Gross 1.51% |
Investment Managers | Investment Style | % of Net Assets |
Wellington Management Company, LLP | Small-Cap Value | 51.2% |
Boston Company Asset Management, LLC | Small-/Mid-Cap Core | 25.5% |
Mellon Capital Management Corp. | Small-Cap Blend | 21.3% |
Cash & other assets | 2.0% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
4 | For more information about each of the investment manager’s investment styles, refer to the fund’s prospectus. |
Number of Holdings | 1,222 |
Weighted Average Market Cap (millions) | $22,619 |
Price/Earnings Ratio (P/E) | 18.6 |
Price/Book Ratio (P/B) | 2.0 |
Portfolio Turnover Rate | 69% |
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1 | This list is not a recommendation of any security by the investment adviser. |
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1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Investor Shares (10/16/96) | -0.14% | 6.65% | 4.06% |
Select Shares® (4/2/04) | 0.00% | 6.81% | 4.21% |
MSCI EAFE® Index (Net)3 | -3.23% | 4.99% | 1.22% |
MSCI EAFE® Index (Gross) | -2.74% | 5.48% | 1.70% |
Fund Category: Morningstar Foreign Large Growth | -1.81% | 5.63% | 2.40% |
Fund Expense Ratios4: Investor Shares: Net 1.40%; Gross 1.59% / Select Shares: Net 1.25%; Gross 1.50% |
Investment Managers | Investment Style | % of Net Assets |
American Century Investment Management, Inc. | International Small-Cap Growth | 24.0% |
Harris Associates L.P. | International Large-Cap Value | 24.2% |
William Blair Investment Management, LLC | International Multi-Cap Growth | 22.5% |
Mondrian Investment Partners Limited | International Small-Cap Value | 23.6% |
Mellon Capital Management Corp. | International Blend | 4.0% |
Cash & other assets | 1.7% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
4 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
5 | For more information about each of the investment manager’s investment styles, refer to the fund’s prospectus. |
As a fund shareholder, you may incur two types of costs: (1) transaction costs, such as redemption fees; and (2) ongoing costs, including management fees, transfer agent and shareholder services fees, and other fund expenses.
Expense Ratio (Annualized)1 | Beginning Account Value at 5/1/16 | Ending Account Value (Net of Expenses) at 10/31/16 | Expenses Paid During Period 5/1/16-10/31/162 | |
Laudus Small-Cap MarketMasters Fund | ||||
Investor Shares | ||||
Actual Return | 1.35% | $1,000.00 | $1,016.30 | $6.84 |
Hypothetical 5% Return | 1.35% | $1,000.00 | $1,018.31 | $6.85 |
Select Shares | ||||
Actual Return | 1.20% | $1,000.00 | $1,017.20 | $6.08 |
Hypothetical 5% Return | 1.20% | $1,000.00 | $1,019.07 | $6.09 |
Laudus International MarketMasters Fund | ||||
Investor Shares | ||||
Actual Return | 1.40% | $1,000.00 | $1,023.20 | $7.12 |
Hypothetical 5% Return | 1.40% | $1,000.00 | $1,018.06 | $7.10 |
Select Shares | ||||
Actual Return | 1.25% | $1,000.00 | $1,023.70 | $6.36 |
Hypothetical 5% Return | 1.25% | $1,000.00 | $1,018.82 | $6.34 |
1 | Based on the most recent six-month expense ratio; may differ from the expense ratio provided in the Financial Highlights which covers a 12- month period. This ratio does not include certain non-routine expenses, such as proxy expenses. |
2 | Expenses for each fund or share class are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by the 366 days of the fiscal year. |
Investor Shares | 11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | |
Per-Share Data | ||||||
Net asset value at beginning of period | $17.42 | $18.02 | $17.28 | $13.14 | $11.99 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.01 | (0.05) | (0.05) | (0.02) | (0.10) | |
Net realized and unrealized gains (losses) | (0.15) | (0.17) 2 | 0.79 | 4.16 | 1.25 | |
Total from investment operations | (0.14) | (0.22) | 0.74 | 4.14 | 1.15 | |
Less distributions: | ||||||
Distributions from net investment income | — | (0.03) | — | — | — | |
Distributions from net realized gains | (1.06) | (0.35) | — | — | — | |
Total distributions | (1.06) | (0.38) | — | — | — | |
Net asset value at end of period | $16.22 | $17.42 | $18.02 | $17.28 | $13.14 | |
Total return | (0.64%) | (1.18%) | 4.28% | 31.51% | 9.59% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 1.35% | 1.35% | 1.35% | 1.35% | 1.42% 3 | |
Gross operating expenses | 1.56% | 1.55% | 1.56% | 1.59% | 1.59% | |
Net investment income (loss) | 0.04% | (0.26%) | (0.26%) | (0.16%) | (0.79%) | |
Portfolio turnover rate | 85% | 51% | 79% | 97% | 144% | |
Net assets, end of period (x 1,000,000) | $55 | $62 | $70 | $76 | $65 | |
Select Shares | 11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | |
Per-Share Data | ||||||
Net asset value at beginning of period | $17.73 | $18.33 | $17.56 | $13.33 | $12.14 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.03 | (0.02) | (0.02) | (0.00) 4 | (0.08) | |
Net realized and unrealized gains (losses) | (0.15) | (0.17) 2 | 0.79 | 4.23 | 1.27 | |
Total from investment operations | (0.12) | (0.19) | 0.77 | 4.23 | 1.19 | |
Less distributions: | ||||||
Distributions from net investment income | — | (0.06) | — | — | — | |
Distributions from net realized gains | (1.06) | (0.35) | — | — | — | |
Total distributions | (1.06) | (0.41) | — | — | — | |
Net asset value at end of period | $16.55 | $17.73 | $18.33 | $17.56 | $13.33 | |
Total return | (0.50%) | (0.99%) | 4.39% | 31.73% | 9.80% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 1.20% | 1.20% | 1.20% | 1.20% | 1.27% 3 | |
Gross operating expenses | 1.52% | 1.51% | 1.51% | 1.53% | 1.51% | |
Net investment income (loss) | 0.19% | (0.09%) | (0.13%) | (0.03%) | (0.60%) | |
Portfolio turnover rate | 85% | 51% | 79% | 97% | 144% | |
Net assets, end of period (x 1,000,000) | $98 | $107 | $122 | $113 | $88 |
Holdings by Category | Cost ($) | Value ($) | |
95.5% | Common Stock | 140,358,608 | 146,042,105 |
4.6% | Other Investment Companies | 7,066,675 | 7,032,993 |
0.0% | Rights | 3,578 | 3,992 |
0.0% | Short-Term Investment | 29,987 | 29,994 |
100.1% | Total Investments | 147,458,848 | 153,109,084 |
(0.1%) | Other Assets and Liabilities, Net | (182,068) | |
100.0% | Net Assets | 152,927,016 |
Security | Number of Shares | Value ($) |
Common Stock 95.5% of net assets | ||
Automobiles & Components 0.4% | ||
American Axle & Manufacturing Holdings, Inc. * | 1,481 | 26,540 |
Cooper Tire & Rubber Co. | 1,296 | 47,628 |
Cooper-Standard Holding, Inc. * | 397 | 36,234 |
Dana, Inc. | 2,413 | 37,353 |
Dorman Products, Inc. * | 319 | 20,493 |
Drew Industries, Inc. | 403 | 36,089 |
Federal-Mogul Holdings Corp. * | 125 | 1,158 |
Fox Factory Holding Corp. * | 740 | 16,058 |
Gentherm, Inc. * | 915 | 25,757 |
Horizon Global Corp. * | 182 | 3,647 |
Metaldyne Performance Group, Inc. | 77 | 1,190 |
Modine Manufacturing Co. * | 314 | 3,438 |
Motorcar Parts of America, Inc. * | 295 | 7,741 |
Spartan Motors, Inc. | 955 | 8,165 |
Standard Motor Products, Inc. | 198 | 9,682 |
Stoneridge, Inc. * | 344 | 5,098 |
Strattec Security Corp. | 22 | 781 |
Superior Industries International, Inc. | 666 | 16,317 |
Tenneco, Inc. * | 1,255 | 69,113 |
Tower International, Inc. | 400 | 8,680 |
Unique Fabricating, Inc. | 218 | 2,723 |
Visteon Corp. | 2,876 | 203,074 |
Winnebago Industries, Inc. | 286 | 8,079 |
595,038 | ||
Banks 13.0% | ||
1st Source Corp. | 299 | 10,333 |
Access National Corp. | 71 | 1,673 |
American National Bankshares, Inc. | 73 | 1,975 |
Ameris Bancorp | 499 | 18,114 |
Ames National Corp. | 74 | 2,005 |
Arrow Financial Corp. | 72 | 2,275 |
Astoria Financial Corp. | 2,376 | 34,761 |
Atlantic Capital Bancshares, Inc. * | 375 | 5,644 |
Banc of California, Inc. | 1,326 | 17,636 |
BancFirst Corp. | 49 | 3,513 |
Banco Latinoamericano de Comercio Exterior, S.A., Class E | 884 | 23,841 |
BancorpSouth, Inc. | 1,844 | 43,334 |
Bank Mutual Corp. | 400 | 3,120 |
Security | Number of Shares | Value ($) |
Bank of Marin Bancorp | 329 | 16,697 |
Bank of the Ozarks, Inc. | 1,997 | 73,809 |
BankFinancial Corp. | 444 | 5,581 |
Bankwell Financial Group, Inc. | 137 | 3,378 |
Banner Corp. | 781 | 35,254 |
Bar Harbor Bankshares | 42 | 1,527 |
Bear State Financial, Inc. | 162 | 1,432 |
Beneficial Bancorp, Inc. | 2,126 | 30,827 |
Berkshire Hills Bancorp, Inc. | 294 | 8,688 |
Blue Hills Bancorp, Inc. | 1,199 | 18,644 |
BNC Bancorp | 1,135 | 28,261 |
BofI Holding, Inc. * | 1,484 | 27,647 |
Boston Private Financial Holdings, Inc. | 2,379 | 31,284 |
Bridge Bancorp, Inc. | 186 | 5,124 |
Brookline Bancorp, Inc. | 1,556 | 19,917 |
Bryn Mawr Bank Corp. | 73 | 2,292 |
BSB Bancorp, Inc. * | 66 | 1,617 |
Camden National Corp. | 70 | 2,311 |
Capital Bank Financial Corp., Class A | 319 | 10,447 |
Capital City Bank Group, Inc. | 144 | 2,166 |
Capitol Federal Financial, Inc. | 3,181 | 46,665 |
Cardinal Financial Corp. | 138 | 3,627 |
Cascade Bancorp * | 518 | 3,165 |
Cathay General Bancorp | 1,806 | 54,090 |
CenterState Banks, Inc. | 1,228 | 22,939 |
Central Pacific Financial Corp. | 835 | 21,401 |
Central Valley Community Bancorp | 232 | 3,322 |
Century Bancorp, Inc., Class A | 48 | 2,177 |
Charter Financial Corp. | 168 | 2,125 |
Chemical Financial Corp. | 1,549 | 66,530 |
Citizens & Northern Corp. | 530 | 11,088 |
City Holding Co. | 182 | 9,513 |
Clifton Bancorp, Inc. | 671 | 10,260 |
CNB Financial Corp. | 233 | 4,555 |
CoBiz Financial, Inc. | 304 | 3,867 |
Codorus Valley Bancorp, Inc. | 153 | 3,204 |
Columbia Banking System, Inc. | 1,289 | 42,563 |
Community Bank System, Inc. | 579 | 27,277 |
Community Trust Bancorp, Inc. | 185 | 6,762 |
CommunityOne Bancorp *(d) | 133 | 1,873 |
ConnectOne Bancorp, Inc. | 481 | 8,826 |
CU Bancorp * | 137 | 3,219 |
Customers Bancorp, Inc. * | 786 | 21,277 |
CVB Financial Corp. | 2,536 | 42,554 |
Dime Community Bancshares, Inc. | 807 | 13,073 |
Eagle Bancorp, Inc. * | 351 | 17,252 |
Enterprise Bancorp, Inc. | 104 | 2,714 |
Enterprise Financial Services Corp. | 470 | 15,557 |
ESSA Bancorp, Inc. | 773 | 10,420 |
Essent Group Ltd. * | 1,482 | 39,184 |
EverBank Financial Corp. | 1,977 | 38,176 |
F.N.B. Corp. | 4,279 | 55,927 |
Farmers Capital Bank Corp. | 54 | 1,696 |
Farmers National Banc Corp. | 602 | 6,321 |
FCB Financial Holdings, Inc., Class A * | 870 | 32,451 |
Federal Agricultural Mortgage Corp., Class C | 87 | 3,552 |
Fidelity Southern Corp. | 212 | 3,865 |
Financial Institutions, Inc. | 161 | 4,323 |
First Bancorp (North Carolina) | 305 | 6,030 |
Security | Number of Shares | Value ($) |
First BanCorp (Puerto Rico) * | 1,508 | 7,736 |
First Bancorp, Inc. | 103 | 2,438 |
First Busey Corp. | 39,862 | 921,211 |
First Business Financial Services, Inc. | 124 | 2,337 |
First Citizens BancShares, Inc., Class A | 105 | 30,555 |
First Commonwealth Financial Corp. | 1,428 | 14,508 |
First Community Bancshares, Inc. | 140 | 3,171 |
First Connecticut Bancorp, Inc. | 350 | 6,212 |
First Defiance Financial Corp. | 73 | 2,882 |
First Financial Bancorp | 1,492 | 32,078 |
First Financial Bankshares, Inc. | 1,261 | 45,648 |
First Financial Corp. | 247 | 9,905 |
First Financial Northwest, Inc. | 177 | 2,814 |
First Interstate BancSystem, Inc., Class A | 157 | 5,008 |
First Merchants Corp. | 463 | 13,033 |
First Midwest Bancorp, Inc. | 91,929 | 1,775,149 |
First NBC Bank Holding Co. * | 1,003 | 5,416 |
First Northwest Bancorp * | 418 | 5,722 |
Flagstar Bancorp, Inc. * | 809 | 22,191 |
Flushing Financial Corp. | 43,577 | 933,419 |
Franklin Financial Network, Inc. * | 95 | 3,097 |
Fulton Financial Corp. | 4,004 | 59,660 |
German American Bancorp, Inc. | 77 | 2,998 |
Glacier Bancorp, Inc. | 1,830 | 51,716 |
Great Southern Bancorp, Inc. | 188 | 7,774 |
Great Western Bancorp, Inc. | 41,737 | 1,345,601 |
Green Bancorp, Inc. * | 94 | 973 |
Guaranty Bancorp | 155 | 2,945 |
Hancock Holding Co. | 44,344 | 1,487,741 |
Hanmi Financial Corp. | 502 | 12,550 |
HarborOne Bancorp, Inc. * | 132 | 2,253 |
Heartland Financial USA, Inc. | 200 | 7,490 |
Heritage Commerce Corp. | 248 | 2,691 |
Heritage Financial Corp. | 174 | 3,202 |
Heritage Oaks Bancorp | 572 | 4,547 |
Hilltop Holdings, Inc. * | 1,594 | 39,372 |
Hingham Institution for Savings | 14 | 2,008 |
Home BancShares, Inc. | 2,863 | 61,583 |
HomeStreet, Inc. * | 781 | 21,517 |
HomeTrust Bancshares, Inc. * | 40 | 744 |
Hope Bancorp, Inc. | 3,209 | 51,793 |
Horizon Bancorp | 84 | 2,436 |
IBERIABANK Corp. | 901 | 59,151 |
Impac Mortgage Holdings, Inc. * | 74 | 1,173 |
Independent Bank Corp., Massachusetts | 280 | 15,442 |
Independent Bank Corp., Michigan | 326 | 5,477 |
Independent Bank Group, Inc. | 88 | 4,250 |
International Bancshares Corp. | 64,441 | 1,988,005 |
Investors Bancorp, Inc. | 6,492 | 79,592 |
Kearny Financial Corp. | 2,547 | 35,531 |
KeyCorp | 41,241 | 582,323 |
Lakeland Bancorp, Inc. | 280 | 3,962 |
Lakeland Financial Corp. | 237 | 8,731 |
LCNB Corp. | 327 | 5,624 |
LegacyTexas Financial Group, Inc. | 721 | 24,665 |
LendingTree, Inc. * | 70 | 5,589 |
Live Oak Bancshares, Inc. | 216 | 3,445 |
Macatawa Bank Corp. | 454 | 3,691 |
MainSource Financial Group, Inc. | 122 | 3,045 |
MB Financial, Inc. | 41,351 | 1,504,763 |
MBT Financial Corp. | 422 | 3,714 |
Mercantile Bank Corp. | 158 | 4,348 |
Merchants Bancshares, Inc. | 58 | 2,494 |
Meridian Bancorp, Inc. | 764 | 12,186 |
Meta Financial Group, Inc. | 84 | 6,153 |
MGIC Investment Corp. * | 52,387 | 427,478 |
Middleburg Financial Corp. | 116 | 3,517 |
Midland States Bancorp, Inc. | 388 | 9,906 |
Security | Number of Shares | Value ($) |
MidWestOne Financial Group, Inc. | 70 | 2,036 |
National Bank Holdings Corp., Class A | 944 | 22,977 |
National Bankshares, Inc. | 94 | 3,266 |
National Commerce Corp. * | 60 | 1,698 |
Nationstar Mortgage Holdings, Inc. * | 1,436 | 21,698 |
NBT Bancorp, Inc. | 614 | 20,698 |
Nicolet Bankshares, Inc. * | 43 | 1,667 |
NMI Holdings, Inc., Class A * | 1,525 | 11,666 |
Northfield Bancorp, Inc. | 213 | 3,504 |
Northrim BanCorp, Inc. | 118 | 2,897 |
Northwest Bancshares, Inc. | 112,694 | 1,773,804 |
OceanFirst Financial Corp. | 663 | 13,711 |
Ocwen Financial Corp. * | 448 | 1,913 |
OFG Bancorp | 1,417 | 15,091 |
Old National Bancorp | 3,305 | 48,583 |
Old Second Bancorp, Inc. | 224 | 1,736 |
Opus Bank | 562 | 11,268 |
Oritani Financial Corp. | 1,192 | 18,655 |
Pacific Continental Corp. | 150 | 2,572 |
Pacific Mercantile Bancorp * | 436 | 2,442 |
Pacific Premier Bancorp, Inc. * | 251 | 6,488 |
Park National Corp. | 130 | 12,601 |
Park Sterling Corp. | 2,430 | 20,922 |
Peapack-Gladstone Financial Corp. | 369 | 7,804 |
Penns Woods Bancorp, Inc. | 41 | 1,743 |
PennyMac Financial Services, Inc., Class A * | 229 | 3,916 |
People's Utah Bancorp | 174 | 3,489 |
Peoples Bancorp, Inc. | 259 | 6,415 |
Peoples Financial Services Corp. | 59 | 2,351 |
PHH Corp. * | 1,504 | 21,838 |
Pinnacle Financial Partners, Inc. | 967 | 49,897 |
Preferred Bank | 104 | 3,944 |
Premier Financial Bancorp, Inc. | 186 | 3,129 |
PrivateBancorp, Inc. | 1,778 | 80,437 |
Prosperity Bancshares, Inc. | 1,174 | 65,122 |
Provident Financial Holdings, Inc. | 167 | 3,186 |
Provident Financial Services, Inc. | 1,688 | 38,301 |
QCR Holdings, Inc. | 113 | 3,672 |
Radian Group, Inc. | 4,637 | 63,017 |
Renasant Corp. | 446 | 15,048 |
Republic Bancorp, Inc., Class A | 75 | 2,373 |
Republic First Bancorp, Inc. * | 745 | 2,943 |
S&T Bancorp, Inc. | 247 | 7,753 |
Sandy Spring Bancorp, Inc. | 230 | 7,291 |
Seacoast Banking Corp. of Florida * | 997 | 17,358 |
ServisFirst Bancshares, Inc. | 218 | 11,803 |
Shore Bancshares, Inc. | 610 | 7,790 |
Sierra Bancorp | 117 | 2,090 |
Simmons First National Corp., Class A | 323 | 15,940 |
South State Corp. | 286 | 20,978 |
Southern National Bancorp of Virginia, Inc. | 246 | 3,228 |
Southside Bancshares, Inc. | 522 | 17,028 |
Southwest Bancorp, Inc. | 261 | 4,868 |
State Bank Financial Corp. | 353 | 7,784 |
Sterling Bancorp | 2,459 | 44,262 |
Stock Yards Bancorp, Inc. | 102 | 3,478 |
Stonegate Bank | 95 | 3,291 |
Suffolk Bancorp | 99 | 3,564 |
Sun Bancorp, Inc. | 108 | 2,484 |
SVB Financial Group * | 7,958 | 973,025 |
Territorial Bancorp, Inc. | 73 | 2,082 |
Texas Capital Bancshares, Inc. * | 1,075 | 63,747 |
The First of Long Island Corp. | 76 | 2,428 |
Tompkins Financial Corp. | 117 | 9,276 |
Towne Bank | 1,320 | 32,736 |
TriCo Bancshares | 237 | 6,238 |
TriState Capital Holdings, Inc. * | 128 | 2,259 |
Triumph Bancorp, Inc. * | 111 | 2,065 |
Security | Number of Shares | Value ($) |
TrustCo Bank Corp. | 479 | 3,353 |
Trustmark Corp. | 1,697 | 46,973 |
UMB Financial Corp. | 671 | 41,636 |
Umpqua Holdings Corp. | 4,767 | 72,840 |
Union Bankshares Corp. | 1,223 | 34,158 |
United Bankshares, Inc. | 1,558 | 58,737 |
United Community Banks, Inc. | 1,874 | 40,422 |
United Community Financial Corp. | 895 | 6,578 |
United Financial Bancorp, Inc. | 505 | 7,429 |
Univest Corp. of Pennsylvania | 842 | 19,997 |
Valley National Bancorp | 3,461 | 34,125 |
Walker & Dunlop, Inc. * | 809 | 19,473 |
Walter Investment Management Corp. * | 288 | 1,440 |
Washington Federal, Inc. | 1,585 | 43,191 |
Washington Trust Bancorp, Inc. | 60 | 2,754 |
WashingtonFirst Bankshares, Inc. | 153 | 3,741 |
Waterstone Financial, Inc. | 209 | 3,543 |
Webster Financial Corp. | 65,461 | 2,644,624 |
WesBanco, Inc. | 788 | 25,933 |
West Bancorp, Inc. | 141 | 2,721 |
Westamerica Bancorp | 439 | 21,757 |
Western New England Bancorp, Inc. | 401 | 3,168 |
Wintrust Financial Corp. | 1,116 | 60,208 |
WSFS Financial Corp. | 446 | 15,632 |
Xenith Bankshares, Inc. * | 883 | 2,066 |
Yadkin Financial Corp. | 1,226 | 34,009 |
19,914,798 | ||
Capital Goods 13.1% | ||
AAON, Inc. | 599 | 17,940 |
AAR Corp. | 707 | 22,744 |
Actuant Corp., Class A | 1,533 | 34,186 |
Advanced Drainage Systems, Inc. | 530 | 10,123 |
Aegion Corp. * | 832 | 15,400 |
Aerojet Rocketdyne Holdings, Inc. * | 932 | 16,403 |
Aerovironment, Inc. * | 810 | 19,432 |
Aircastle Ltd. | 1,281 | 26,325 |
Alamo Group, Inc. | 138 | 8,959 |
Albany International Corp., Class A | 51,303 | 2,090,597 |
Allied Motion Technologies, Inc. | 63 | 1,246 |
Altra Industrial Motion Corp. | 353 | 10,414 |
Ameresco, Inc., Class A * | 500 | 2,400 |
American Railcar Industries, Inc. | 205 | 7,540 |
American Superconductor Corp. * | 356 | 2,282 |
American Woodmark Corp. * | 213 | 15,911 |
Apogee Enterprises, Inc. | 782 | 31,866 |
Applied Industrial Technologies, Inc. | 845 | 42,926 |
Argan, Inc. | 185 | 10,517 |
Armstrong Flooring, Inc. * | 173 | 2,801 |
Astec Industries, Inc. | 257 | 14,228 |
Astronics Corp. * | 422 | 15,624 |
AZZ, Inc. | 660 | 35,145 |
Babcock & Wilcox Enterprises, Inc. * | 47,752 | 751,616 |
Barnes Group, Inc. | 846 | 33,705 |
Beacon Roofing Supply, Inc. * | 1,250 | 52,550 |
Blue Bird Corp. * | 110 | 1,623 |
BMC Stock Holdings, Inc. * | 427 | 7,067 |
Briggs & Stratton Corp. | 970 | 18,061 |
Builders FirstSource, Inc. * | 1,358 | 13,132 |
Caesarstone Ltd. * | 144 | 5,090 |
CAI International, Inc. * | 97 | 738 |
Chart Industries, Inc. * | 965 | 26,769 |
CIRCOR International, Inc. | 17,626 | 947,926 |
CLARCOR, Inc. | 978 | 60,841 |
Columbus McKinnon Corp. | 721 | 14,052 |
Comfort Systems USA, Inc. | 1,030 | 29,715 |
Continental Building Products, Inc. * | 471 | 9,632 |
Security | Number of Shares | Value ($) |
Cubic Corp. | 38,363 | 1,638,100 |
Curtiss-Wright Corp. | 946 | 84,781 |
DigitalGlobe, Inc. * | 1,557 | 39,081 |
Douglas Dynamics, Inc. | 258 | 8,282 |
Ducommun, Inc. * | 33 | 628 |
DXP Enterprises, Inc. * | 509 | 11,091 |
Dycom Industries, Inc. * | 469 | 36,080 |
Dynamic Materials Corp. | 297 | 3,222 |
EMCOR Group, Inc. | 1,355 | 81,923 |
Encore Wire Corp. | 156 | 5,327 |
Energous Corp. * | 275 | 3,748 |
Energy Recovery, Inc. * | 616 | 7,521 |
EnerSys | 815 | 53,081 |
Engility Holdings, Inc. * | 377 | 10,831 |
EnPro Industries, Inc. | 399 | 21,594 |
ESCO Technologies, Inc. | 35,837 | 1,596,538 |
Esterline Technologies Corp. * | 411 | 30,188 |
Federal Signal Corp. | 1,300 | 15,964 |
Franklin Electric Co., Inc. | 1,013 | 36,924 |
FreightCar America, Inc. | 494 | 6,452 |
FuelCell Energy, Inc. * | 1,022 | 3,424 |
GATX Corp. | 32,331 | 1,415,128 |
Generac Holdings, Inc. * | 1,522 | 57,973 |
General Cable Corp. | 1,229 | 17,206 |
Gibraltar Industries, Inc. * | 842 | 32,754 |
Global Brass & Copper Holdings, Inc. | 218 | 6,257 |
GMS, Inc. * | 138 | 2,868 |
Graham Corp. | 164 | 2,927 |
Granite Construction, Inc. | 582 | 28,611 |
Griffon Corp. | 1,210 | 20,207 |
H&E Equipment Services, Inc. | 560 | 7,812 |
Harsco Corp. | 1,464 | 14,274 |
HC2 Holdings, Inc. * | 148 | 589 |
HD Supply Holdings, Inc. * | 26,963 | 889,779 |
Hillenbrand, Inc. | 1,263 | 38,332 |
Hubbell, Inc. | 6,543 | 683,874 |
Hurco Cos., Inc. | 62 | 1,624 |
Hyster-Yale Materials Handling, Inc. | 88 | 5,122 |
IES Holdings, Inc. * | 242 | 3,618 |
Insteel Industries, Inc. | 325 | 8,743 |
John Bean Technologies Corp. | 716 | 57,173 |
Joy Global, Inc. | 2,071 | 57,636 |
Kadant, Inc. | 176 | 9,090 |
Kaman Corp. | 755 | 32,963 |
Kennametal, Inc. | 1,122 | 31,764 |
KLX, Inc. * | 887 | 30,531 |
Kratos Defense & Security Solutions, Inc. * | 1,409 | 7,919 |
Lawson Products, Inc. * | 38 | 716 |
Layne Christensen Co. * | 431 | 3,694 |
Lindsay Corp. | 135 | 10,571 |
LSI Industries, Inc. | 57 | 490 |
Luxfer Holdings plc ADR | 62,581 | 587,636 |
Lydall, Inc. * | 251 | 11,734 |
Masonite International Corp. * | 712 | 40,513 |
MasTec, Inc. * | 1,529 | 43,653 |
Mercury Systems, Inc. * | 1,131 | 31,419 |
Meritor, Inc. * | 1,762 | 18,113 |
Milacron Holdings Corp. * | 188 | 2,737 |
Miller Industries, Inc. | 382 | 8,385 |
Moog, Inc., Class A * | 468 | 27,177 |
MRC Global, Inc. * | 1,956 | 28,831 |
Mueller Industries, Inc. | 75,810 | 2,296,285 |
Mueller Water Products, Inc., Class A | 2,571 | 31,675 |
MYR Group, Inc. * | 654 | 19,515 |
National Presto Industries, Inc. | 23 | 2,007 |
Navistar International Corp. * | 1,090 | 24,307 |
NCI Building Systems, Inc. * | 1,179 | 16,978 |
Neff Corp., Class A * | 312 | 2,824 |
Security | Number of Shares | Value ($) |
NN, Inc. | 262 | 4,624 |
NOW, Inc. * | 1,524 | 32,857 |
NV5 Global, Inc. * | 61 | 1,745 |
Omega Flex, Inc. | 119 | 4,526 |
Orion Group Holdings, Inc. * | 142 | 1,147 |
Patrick Industries, Inc. * | 235 | 13,477 |
PGT, Inc. * | 1,115 | 10,927 |
Plug Power, Inc. * | 1,567 | 2,398 |
Ply Gem Holdings, Inc. * | 964 | 13,207 |
Powell Industries, Inc. | 43 | 1,522 |
Power Solutions International, Inc. * | 26 | 248 |
Preformed Line Products Co. | 25 | 1,076 |
Primoris Services Corp. | 46,885 | 939,107 |
Proto Labs, Inc. * | 5,657 | 252,868 |
Quanex Building Products Corp. | 962 | 15,681 |
Raven Industries, Inc. | 483 | 10,360 |
RBC Bearings, Inc. * | 573 | 40,884 |
Rexnord Corp. * | 1,886 | 37,513 |
Rush Enterprises, Inc., Class A * | 275 | 7,219 |
Simpson Manufacturing Co., Inc. | 1,052 | 45,026 |
SiteOne Landscape Supply, Inc. * | 97 | 3,024 |
Snap-on, Inc. | 4,761 | 733,670 |
Sparton Corp. * | 216 | 5,169 |
SPX Corp. * | 347 | 6,596 |
SPX FLOW, Inc. * | 302 | 7,577 |
Standex International Corp. | 125 | 9,550 |
Sun Hydraulics Corp. | 156 | 4,591 |
Sunrun, Inc. * | 518 | 2,699 |
Supreme Industries, Inc., Class A | 570 | 6,948 |
TASER International, Inc. * | 1,428 | 31,959 |
Teledyne Technologies, Inc. * | 535 | 57,609 |
Tennant Co. | 211 | 13,282 |
Textainer Group Holdings Ltd. | 185 | 1,406 |
The ExOne Co. * | 440 | 5,249 |
The Gorman-Rupp Co. | 178 | 4,276 |
The Greenbrier Cos., Inc. | 859 | 27,058 |
The KEYW Holding Corp. * | 476 | 4,993 |
The Manitowoc Co., Inc. | 534 | 2,157 |
Thermon Group Holdings, Inc. * | 61,007 | 1,118,258 |
Titan International, Inc. | 294 | 2,996 |
Titan Machinery, Inc. * | 475 | 4,413 |
Trex Co., Inc. * | 764 | 41,111 |
TriMas Corp. * | 81,925 | 1,470,554 |
Triton International Ltd. | 483 | 5,830 |
Triumph Group, Inc. | 648 | 15,358 |
Tutor Perini Corp. * | 1,155 | 22,003 |
Univar, Inc. * | 874 | 19,446 |
Universal Forest Products, Inc. | 261 | 22,443 |
Vectrus, Inc. * | 352 | 5,903 |
Veritiv Corp. * | 37 | 1,996 |
Vicor Corp. * | 299 | 3,812 |
Wabash National Corp. * | 1,877 | 21,116 |
Watts Water Technologies, Inc., Class A | 701 | 42,060 |
Wesco Aircraft Holdings, Inc. * | 1,210 | 15,549 |
Woodward, Inc. | 1,174 | 69,243 |
20,042,656 | ||
Commercial & Professional Supplies 9.2% | ||
ABM Industries, Inc. | 1,332 | 52,055 |
Acacia Research Corp. | 674 | 3,943 |
ACCO Brands Corp. * | 144,008 | 1,598,489 |
ARC Document Solutions, Inc. * | 799 | 2,741 |
Barrett Business Services, Inc. | 134 | 6,007 |
Brady Corp., Class A | 896 | 29,658 |
Casella Waste Systems, Inc., Class A * | 832 | 9,318 |
CBIZ, Inc. * | 1,207 | 13,337 |
CEB, Inc. | 443 | 21,552 |
Security | Number of Shares | Value ($) |
CECO Environmental Corp. | 326 | 3,227 |
CRA International, Inc. * | 91 | 2,834 |
Deluxe Corp. | 1,020 | 62,424 |
Ennis, Inc. | 454 | 6,651 |
Essendant, Inc. | 62,198 | 954,739 |
Exponent, Inc. | 287 | 16,431 |
Franklin Covey Co. * | 70 | 1,281 |
FTI Consulting, Inc. * | 40,301 | 1,570,127 |
G&K Services, Inc., Class A | 24,491 | 2,319,298 |
GP Strategies Corp. * | 255 | 6,592 |
Healthcare Services Group, Inc. | 1,414 | 52,276 |
Heidrick & Struggles International, Inc. | 246 | 4,551 |
Heritage-Crystal Clean, Inc. * | 114 | 1,493 |
Herman Miller, Inc. | 1,391 | 38,670 |
HNI Corp. | 1,022 | 41,555 |
Huron Consulting Group, Inc. * | 14,056 | 787,839 |
ICF International, Inc. * | 395 | 18,328 |
InnerWorkings, Inc. * | 558 | 4,916 |
Insperity, Inc. | 435 | 32,712 |
Interface, Inc. | 1,696 | 26,882 |
Kelly Services, Inc., Class A | 972 | 18,206 |
Kforce, Inc. | 884 | 15,337 |
Kimball International, Inc., Class B | 305 | 3,813 |
Knoll, Inc. | 1,160 | 25,102 |
Korn/Ferry International | 1,209 | 24,652 |
Matthews International Corp., Class A | 23,587 | 1,412,861 |
McGrath RentCorp | 291 | 8,759 |
Mistras Group, Inc. * | 42,996 | 900,336 |
Mobile Mini, Inc. | 612 | 15,514 |
MSA Safety, Inc. | 455 | 26,526 |
Multi-Color Corp. | 78 | 5,064 |
Navigant Consulting, Inc. * | 1,097 | 25,670 |
NL Industries, Inc. * | 152 | 486 |
On Assignment, Inc. * | 1,120 | 38,539 |
Quad Graphics, Inc. | 142 | 3,374 |
Resources Connection, Inc. | 737 | 10,944 |
RPX Corp. * | 1,450 | 14,152 |
SP Plus Corp. * | 63,910 | 1,610,532 |
Steelcase, Inc., Class A | 81,433 | 1,087,131 |
Team, Inc. * | 428 | 13,161 |
Tetra Tech, Inc. | 1,276 | 49,062 |
The Advisory Board Co. * | 648 | 25,790 |
The Brink's Co. | 1,104 | 43,663 |
TriNet Group, Inc. * | 1,266 | 23,763 |
TrueBlue, Inc. * | 46,132 | 807,310 |
UniFirst Corp. | 370 | 45,325 |
US Ecology, Inc. | 185 | 7,816 |
Viad Corp. | 358 | 14,857 |
VSE Corp. | 82 | 2,365 |
WageWorks, Inc. * | 849 | 50,049 |
West Corp. | 445 | 8,775 |
14,028,860 | ||
Consumer Durables & Apparel 1.4% | ||
Arctic Cat, Inc. | 331 | 4,962 |
Bassett Furniture Industries, Inc. | 51 | 1,170 |
Beazer Homes USA, Inc. * | 1,640 | 16,777 |
Callaway Golf Co. | 2,236 | 22,830 |
Cavco Industries, Inc. * | 63 | 5,821 |
Century Communities, Inc. * | 221 | 4,354 |
Columbia Sportswear Co. | 688 | 38,968 |
Crocs, Inc. * | 797 | 6,129 |
CSS Industries, Inc. | 196 | 4,920 |
Culp, Inc. | 107 | 2,996 |
Deckers Outdoor Corp. * | 9,475 | 494,500 |
Escalade, Inc. | 75 | 911 |
Ethan Allen Interiors, Inc. | 459 | 14,091 |
Security | Number of Shares | Value ($) |
Flexsteel Industries, Inc. | 70 | 2,933 |
Fossil Group, Inc. * | 516 | 14,071 |
G-III Apparel Group Ltd. * | 17,678 | 461,749 |
GoPro, Inc., Class A * | 1,572 | 20,090 |
Green Brick Partners, Inc. * | 135 | 1,033 |
Helen of Troy Ltd. * | 6,579 | 536,188 |
Hooker Furniture Corp. | 291 | 7,653 |
Hovnanian Enterprises, Inc., Class A * | 257 | 401 |
Iconix Brand Group, Inc. * | 1,471 | 11,591 |
Installed Building Products, Inc. * | 251 | 8,296 |
iRobot Corp. * | 766 | 38,836 |
JAKKS Pacific, Inc. * | 888 | 5,950 |
Johnson Outdoors, Inc., Class A | 37 | 1,331 |
KB Home | 2,280 | 33,151 |
La-Z-Boy, Inc. | 1,200 | 28,080 |
LGI Homes, Inc. * | 228 | 6,785 |
Libbey, Inc. | 233 | 3,730 |
Lifetime Brands, Inc. | 127 | 1,797 |
M.D.C. Holdings, Inc. | 1,150 | 27,266 |
M/I Homes, Inc. * | 696 | 14,971 |
Malibu Boats, Inc., Class A * | 403 | 5,912 |
Marine Products Corp. | 229 | 2,141 |
MCBC Holdings, Inc. | 274 | 3,052 |
Meritage Homes Corp. * | 741 | 22,934 |
Movado Group, Inc. | 449 | 9,900 |
NACCO Industries, Inc., Class A | 44 | 3,219 |
Nautilus, Inc. * | 855 | 15,048 |
Oxford Industries, Inc. | 166 | 10,412 |
Performance Sports Group Ltd. *(d) | 209 | 364 |
Perry Ellis International, Inc. * | 300 | 5,577 |
Sequential Brands Group, Inc. * | 439 | 3,161 |
Smith & Wesson Holding Corp. * | 1,099 | 29,047 |
Steven Madden Ltd. * | 1,209 | 40,381 |
Sturm, Ruger & Co., Inc. | 290 | 17,835 |
Superior Uniform Group, Inc. | 88 | 1,566 |
Taylor Morrison Home Corp., Class A * | 1,201 | 20,489 |
The New Home Co., Inc. * | 84 | 842 |
TopBuild Corp. * | 437 | 13,167 |
TRI Pointe Group, Inc. * | 2,542 | 27,530 |
UCP, Inc., Class A * | 387 | 3,522 |
Unifi, Inc. * | 65 | 1,869 |
Universal Electronics, Inc. * | 128 | 8,979 |
Vera Bradley, Inc. * | 783 | 10,469 |
Vince Holding Corp. * | 350 | 1,908 |
WCI Communities, Inc. * | 269 | 6,227 |
William Lyon Homes, Class A * | 390 | 6,965 |
Wolverine World Wide, Inc. | 1,916 | 40,907 |
ZAGG, Inc. * | 1,145 | 7,442 |
2,165,196 | ||
Consumer Services 1.2% | ||
American Public Education, Inc. * | 298 | 6,005 |
Apollo Education Group, Inc. * | 1,618 | 14,222 |
Ascent Capital Group, Inc., Class A * | 231 | 4,708 |
Belmond Ltd., Class A * | 1,631 | 21,121 |
Biglari Holdings, Inc. * | 15 | 6,573 |
BJ's Restaurants, Inc. * | 630 | 22,743 |
Bloomin' Brands, Inc. | 2,028 | 35,084 |
Bob Evans Farms, Inc. | 611 | 25,185 |
Bojangles', Inc. * | 62 | 918 |
Boyd Gaming Corp. * | 1,750 | 31,255 |
Bridgepoint Education, Inc. * | 135 | 913 |
Bright Horizons Family Solutions, Inc. * | 812 | 54,331 |
Buffalo Wild Wings, Inc. * | 384 | 55,930 |
Caesars Acquisition Co., Class A * | 318 | 3,705 |
Caesars Entertainment Corp. * | 755 | 5,360 |
Cambium Learning Group, Inc. * | 344 | 1,782 |
Security | Number of Shares | Value ($) |
Capella Education Co. | 252 | 18,421 |
Career Education Corp. * | 998 | 7,176 |
Carriage Services, Inc. | 207 | 4,893 |
Carrols Restaurant Group, Inc. * | 1,144 | 14,300 |
Century Casinos, Inc. * | 526 | 3,335 |
Chegg, Inc. * | 1,081 | 7,189 |
Churchill Downs, Inc. | 185 | 25,160 |
Chuy's Holdings, Inc. * | 382 | 10,849 |
ClubCorp Holdings, Inc. | 1,227 | 14,172 |
Collectors Universe, Inc. | 127 | 2,386 |
Cracker Barrel Old Country Store, Inc. | 304 | 41,952 |
Dave & Buster's Entertainment, Inc. * | 693 | 28,656 |
Del Frisco's Restaurant Group, Inc. * | 313 | 4,476 |
Del Taco Restaurants, Inc. * | 341 | 4,573 |
Denny's Corp. * | 1,941 | 20,128 |
DeVry Education Group, Inc. | 922 | 20,929 |
DineEquity, Inc. | 446 | 35,279 |
El Pollo Loco Holdings, Inc. * | 731 | 8,918 |
Eldorado Resorts, Inc. * | 365 | 4,416 |
Empire Resorts, Inc. * | 55 | 1,053 |
Fiesta Restaurant Group, Inc. * | 800 | 21,120 |
Fogo De Chao, Inc. * | 239 | 2,832 |
Golden Entertainment, Inc. | 428 | 4,905 |
Grand Canyon Education, Inc. * | 1,100 | 48,004 |
Houghton Mifflin Harcourt Co. * | 47,947 | 606,530 |
ILG, Inc. | 1,601 | 26,224 |
International Speedway Corp., Class A | 581 | 19,115 |
Intrawest Resorts Holdings, Inc. * | 279 | 4,578 |
Isle of Capri Casinos, Inc. * | 352 | 7,392 |
J Alexander's Holdings, Inc. * | 62 | 558 |
Jack in the Box, Inc. | 498 | 46,678 |
Jamba, Inc. * | 525 | 5,539 |
K12, Inc. * | 482 | 5,225 |
Kona Grill, Inc. * | 71 | 763 |
La Quinta Holdings, Inc. * | 2,174 | 21,762 |
Liberty Tax, Inc. | 105 | 1,244 |
LifeLock, Inc. * | 2,010 | 32,361 |
Lindblad Expeditions Holdings, Inc. * | 332 | 2,719 |
Luby's, Inc. * | 612 | 2,564 |
Marriott Vacations Worldwide Corp. | 372 | 23,652 |
Monarch Casino & Resort, Inc. * | 67 | 1,585 |
Noodles & Co. * | 96 | 451 |
Papa John's International, Inc. | 451 | 34,028 |
Penn National Gaming, Inc. * | 1,656 | 21,412 |
Pinnacle Entertainment, Inc. * | 1,046 | 12,395 |
Planet Fitness, Inc., Class A * | 181 | 3,837 |
Popeyes Louisiana Kitchen, Inc. * | 361 | 19,270 |
Potbelly Corp. * | 1,185 | 15,464 |
Red Robin Gourmet Burgers, Inc. * | 166 | 7,636 |
Red Rock Resorts, Inc., Class A | 206 | 4,511 |
Regis Corp. * | 672 | 8,521 |
Ruby Tuesday, Inc. * | 808 | 2,400 |
Ruth's Hospitality Group, Inc. | 1,096 | 17,372 |
Scientific Games Corp., Class A * | 1,236 | 15,326 |
SeaWorld Entertainment, Inc. | 1,594 | 22,332 |
Shake Shack, Inc., Class A * | 290 | 9,248 |
Sonic Corp. | 1,219 | 27,927 |
Sotheby's | 1,262 | 45,281 |
Speedway Motorsports, Inc. | 96 | 1,806 |
Strayer Education, Inc. * | 108 | 6,335 |
Texas Roadhouse, Inc. | 1,305 | 52,879 |
The Cheesecake Factory, Inc. | 973 | 51,754 |
The Habit Restaurants, Inc., Class A * | 1,027 | 14,532 |
The Marcus Corp. | 350 | 9,275 |
Weight Watchers International, Inc. * | 435 | 4,472 |
Security | Number of Shares | Value ($) |
Wingstop, Inc. | 112 | 2,997 |
Zoe's Kitchen, Inc. * | 350 | 7,934 |
1,872,841 | ||
Diversified Financials 4.3% | ||
AG Mortgage Investment Trust, Inc. | 385 | 5,979 |
Altisource Residential Corp. | 1,180 | 11,883 |
Anworth Mortgage Asset Corp. | 3,293 | 16,169 |
Apollo Commercial Real Estate Finance, Inc. | 680 | 11,506 |
Ares Commercial Real Estate Corp. | 550 | 7,216 |
Arlington Asset Investment Corp., Class A | 1,251 | 17,864 |
ARMOUR Residential REIT, Inc. | 1,068 | 24,212 |
Associated Capital Group, Inc., Class A | 30 | 1,019 |
B. Riley Financial, Inc. | 319 | 4,083 |
BBX Capital Corp., Class A * | 88 | 1,792 |
BGC Partners, Inc., Class A | 2,866 | 24,619 |
Calamos Asset Management, Inc., Class A | 525 | 3,391 |
Capstead Mortgage Corp. | 2,630 | 25,011 |
Cohen & Steers, Inc. | 275 | 10,224 |
Colony Capital, Inc., Class A | 2,208 | 41,974 |
Cowen Group, Inc., Class A * | 1,033 | 3,357 |
CYS Investments, Inc. | 3,041 | 26,213 |
Diamond Hill Investment Group, Inc. | 21 | 3,822 |
Dynex Capital, Inc. | 2,555 | 17,553 |
E*TRADE Financial Corp. * | 21,831 | 614,761 |
Encore Capital Group, Inc. * | 311 | 6,173 |
Enova International, Inc. * | 779 | 7,323 |
Evercore Partners, Inc., Class A | 904 | 48,590 |
EZCORP, Inc., Class A * | 1,568 | 15,288 |
Fifth Street Asset Management, Inc. | 40 | 208 |
Financial Engines, Inc. | 1,188 | 32,848 |
FirstCash, Inc. | 658 | 31,058 |
FNFV Group * | 27,236 | 328,194 |
GAIN Capital Holdings, Inc. | 821 | 3,777 |
GAMCO Investors, Inc., Class A | 30 | 852 |
Great Ajax Corp. | 1,067 | 14,789 |
Green Dot Corp., Class A * | 1,147 | 25,463 |
Greenhill & Co., Inc. | 1,037 | 24,318 |
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 404 | 9,235 |
Houlihan Lokey, Inc. | 128 | 3,119 |
INTL. FCStone, Inc. * | 26 | 933 |
Invesco Mortgage Capital, Inc. | 2,583 | 38,564 |
Investment Technology Group, Inc. | 1,260 | 19,291 |
Janus Capital Group, Inc. | 2,619 | 33,576 |
KCG Holdings, Inc., Class A * | 1,610 | 20,544 |
Ladder Capital Corp. | 328 | 4,159 |
Ladenburg Thalmann Financial Services, Inc. * | 1,958 | 3,994 |
LendingClub Corp. * | 4,346 | 21,426 |
Leucadia National Corp. | 67,318 | 1,256,827 |
Manning & Napier, Inc. | 564 | 3,892 |
Marlin Business Services Corp. | 80 | 1,400 |
Medley Management, Inc., Class A | 121 | 1,071 |
Moelis & Co., Class A | 209 | 5,309 |
MTGE Investment Corp. | 829 | 14,134 |
Nelnet, Inc., Class A | 215 | 8,424 |
New Residential Investment Corp. | 3,839 | 53,592 |
New York Mortgage Trust, Inc. | 1,086 | 6,418 |
NewStar Financial, Inc. * | 255 | 2,481 |
Oaktree Capital Group LLC | 19,456 | 809,370 |
OM Asset Management plc | 932 | 13,113 |
On Deck Capital, Inc. * | 655 | 3,203 |
Oppenheimer Holdings, Inc., Class A | 71 | 994 |
Orchid Island Capital, Inc. | 1,626 | 17,122 |
PennyMac Mortgage Investment Trust | 949 | 14,444 |
PICO Holdings, Inc. * | 328 | 3,969 |
Security | Number of Shares | Value ($) |
Piper Jaffray Cos. * | 490 | 27,709 |
PJT Partners, Inc., Class A | 123 | 3,387 |
PRA Group, Inc. * | 636 | 20,288 |
Pzena Investment Management, Inc., Class A | 326 | 2,373 |
Raymond James Financial, Inc. | 9,246 | 555,870 |
Redwood Trust, Inc. | 2,025 | 28,471 |
Regional Management Corp. * | 66 | 1,470 |
Resource Capital Corp. | 1,357 | 16,813 |
Safeguard Scientifics, Inc. * | 390 | 4,602 |
SLM Corp. * | 175,899 | 1,240,088 |
Solar Capital Ltd. | 35,480 | 713,858 |
Stifel Financial Corp. * | 1,290 | 50,491 |
Tiptree Financial, Inc., Class A | 206 | 1,195 |
Virtu Financial, Inc., Class A | 1,045 | 13,376 |
Virtus Investment Partners, Inc. | 184 | 19,743 |
Waddell & Reed Financial, Inc., Class A | 901 | 14,164 |
Western Asset Mortgage Capital Corp. | 1,819 | 18,426 |
Westwood Holdings Group, Inc. | 44 | 2,268 |
WisdomTree Investments, Inc. | 2,160 | 18,533 |
World Acceptance Corp. * | 106 | 5,037 |
6,540,295 | ||
Energy 3.3% | ||
Abraxas Petroleum Corp. * | 646 | 1,047 |
Adams Resources & Energy, Inc. | 80 | 2,923 |
Alon USA Energy, Inc. | 1,461 | 11,776 |
Arch Coal, Inc. * | 6,789 | 498,177 |
Archrock, Inc. | 1,024 | 11,878 |
Ardmore Shipping Corp. | 2,246 | 13,139 |
Atwood Oceanics, Inc. | 1,942 | 14,817 |
Bill Barrett Corp. * | 1,733 | 8,994 |
Bristow Group, Inc. | 613 | 6,136 |
California Resources Corp. * | 685 | 7,028 |
Callon Petroleum Co. * | 2,936 | 38,139 |
CARBO Ceramics, Inc. * | 619 | 3,776 |
Carrizo Oil & Gas, Inc. * | 1,304 | 44,114 |
Cheniere Energy Partners LP Holdings LLC | 3,386 | 67,517 |
Clayton Williams Energy, Inc. * | 50 | 4,365 |
Clean Energy Fuels Corp. * | 844 | 3,469 |
Cobalt International Energy, Inc. * | 1,979 | 1,868 |
Contango Oil & Gas Co. * | 232 | 1,817 |
CVR Energy, Inc. | 179 | 2,374 |
Dawson Geophysical Co. * | 407 | 2,666 |
Delek US Holdings, Inc. | 1,257 | 21,243 |
Denbury Resources, Inc. * | 4,173 | 9,973 |
DHT Holdings, Inc. | 2,637 | 10,733 |
Dorian LPG Ltd. * | 56,105 | 315,871 |
Earthstone Energy, Inc. * | 75 | 640 |
Eclipse Resources Corp. * | 970 | 2,658 |
EP Energy Corp., Class A * | 484 | 1,723 |
Era Group, Inc. * | 36,829 | 278,059 |
Erin Energy Corp. * | 327 | 703 |
Evolution Petroleum Corp. | 368 | 2,834 |
EXCO Resources, Inc. * | 1,244 | 1,344 |
Exterran Corp. * | 484 | 7,652 |
Fairmount Santrol Holdings, Inc. * | 784 | 6,735 |
Forum Energy Technologies, Inc. * | 1,235 | 22,230 |
Frontline Ltd. | 1,067 | 7,650 |
GasLog Ltd. | 1,331 | 20,431 |
Gener8 Maritime, Inc. * | 460 | 1,941 |
Geospace Technologies Corp. * | 127 | 2,341 |
Golar LNG Ltd. | 1,220 | 26,706 |
Green Plains, Inc. | 657 | 17,082 |
Helix Energy Solutions Group, Inc. * | 2,175 | 18,966 |
Hornbeck Offshore Services, Inc. * | 1,335 | 5,300 |
Independence Contract Drilling, Inc. * | 770 | 3,065 |
Isramco, Inc. * | 35 | 3,360 |
Security | Number of Shares | Value ($) |
Jones Energy, Inc., Class A * | 508 | 2,083 |
Matador Resources Co. * | 1,743 | 38,015 |
Matrix Service Co. * | 192 | 3,398 |
McDermott International, Inc. * | 3,379 | 17,368 |
Natural Gas Services Group, Inc. * | 230 | 4,991 |
Navios Maritime Acquisition Corp. | 707 | 898 |
Newpark Resources, Inc. * | 936 | 5,897 |
Nordic American Tankers Ltd. | 1,929 | 15,760 |
Northern Oil & Gas, Inc. * | 1,068 | 2,243 |
Oasis Petroleum, Inc. * | 4,574 | 47,981 |
Oil States International, Inc. * | 1,067 | 31,210 |
Overseas Shipholding Group, Inc., Class A | 258 | 2,260 |
Pacific Ethanol, Inc. * | 507 | 3,777 |
Panhandle Oil & Gas, Inc., Class A | 112 | 2,016 |
Par Pacific Holdings, Inc. * | 303 | 3,860 |
Parker Drilling Co. * | 1,022 | 2,044 |
PDC Energy, Inc. * | 1,050 | 64,396 |
PHI, Inc. - Non Voting Shares * | 154 | 2,399 |
Pioneer Energy Services Corp. * | 1,198 | 4,253 |
Renewable Energy Group, Inc. * | 1,288 | 11,270 |
REX American Resources Corp. * | 248 | 19,589 |
RigNet, Inc. * | 206 | 3,090 |
Ring Energy, Inc. * | 451 | 4,163 |
RSP Permian, Inc. * | 27,200 | 981,920 |
Sanchez Energy Corp. * | 1,463 | 9,319 |
Scorpio Tankers, Inc. | 199,107 | 762,580 |
SEACOR Holdings, Inc. * | 19,108 | 942,215 |
Seadrill Ltd. * | 3,912 | 8,333 |
SemGroup Corp., Class A | 886 | 28,573 |
Ship Finance International Ltd. | 1,712 | 21,657 |
Synergy Resources Corp. * | 4,971 | 34,002 |
Teekay Corp. | 408 | 2,664 |
Teekay Tankers Ltd., Class A | 1,757 | 3,742 |
Tesco Corp. | 39,226 | 268,698 |
TETRA Technologies, Inc. * | 1,489 | 8,115 |
Tidewater, Inc. | 901 | 1,559 |
Unit Corp. * | 697 | 11,940 |
US Silica Holdings, Inc. | 1,472 | 67,992 |
W&T Offshore, Inc. * | 247 | 358 |
Western Refining, Inc. | 1,822 | 52,565 |
Westmoreland Coal Co. * | 313 | 2,779 |
Willbros Group, Inc. * | 1,083 | 1,646 |
5,038,878 | ||
Food & Staples Retailing 0.6% | ||
Ingles Markets, Inc., Class A | 68 | 2,686 |
Natural Grocers by Vitamin Cottage, Inc. * | 654 | 7,770 |
Performance Food Group Co. * | 590 | 14,160 |
PriceSmart, Inc. | 387 | 35,198 |
Smart & Final Stores, Inc. * | 69,754 | 837,048 |
SpartanNash, Co. | 559 | 15,652 |
SUPERVALU, Inc. * | 3,066 | 13,153 |
The Andersons, Inc. | 329 | 12,518 |
The Chefs' Warehouse, Inc. * | 219 | 2,497 |
United Natural Foods, Inc. * | 956 | 39,903 |
Village Super Market, Inc., Class A | 150 | 4,485 |
Weis Markets, Inc. | 99 | 5,507 |
990,577 | ||
Food, Beverage & Tobacco 0.4% | ||
Alico, Inc. | 40 | 1,046 |
Amplify Snack Brands, Inc. * | 214 | 3,101 |
B&G Foods, Inc. | 1,337 | 56,689 |
Cal-Maine Foods, Inc. | 677 | 26,166 |
Calavo Growers, Inc. | 203 | 12,007 |
Coca-Cola Bottling Co. Consolidated | 28 | 3,956 |
Security | Number of Shares | Value ($) |
Craft Brew Alliance, Inc. * | 354 | 5,682 |
Darling Ingredients, Inc. * | 2,813 | 38,257 |
Dean Foods Co. | 2,051 | 37,451 |
Farmer Brothers Co. * | 120 | 3,924 |
Fresh Del Monte Produce, Inc. | 799 | 48,220 |
Freshpet, Inc. * | 547 | 4,649 |
Inventure Foods, Inc. * | 1,007 | 8,519 |
J&J Snack Foods Corp. | 185 | 22,598 |
John B. Sanfilippo & Son, Inc. | 219 | 11,099 |
Lancaster Colony Corp. | 296 | 38,672 |
Landec Corp. * | 283 | 3,750 |
Lifeway Foods, Inc. * | 98 | 1,752 |
Limoneira Co. | 88 | 1,733 |
MGP Ingredients, Inc. | 215 | 7,570 |
National Beverage Corp. * | 184 | 8,692 |
Omega Protein Corp. * | 610 | 13,603 |
Primo Water Corp. * | 963 | 12,606 |
Sanderson Farms, Inc. | 503 | 45,260 |
Seaboard Corp. * | 2 | 6,770 |
Seneca Foods Corp., Class A * | 55 | 1,617 |
Snyder's-Lance, Inc. | 1,836 | 65,307 |
The Boston Beer Co., Inc., Class A * | 215 | 33,379 |
Tootsie Roll Industries, Inc. | 615 | 21,802 |
Universal Corp. | 610 | 33,062 |
Vector Group Ltd. | 2,095 | 43,869 |
622,808 | ||
Health Care Equipment & Services 5.3% | ||
AAC Holdings, Inc. * | 167 | 2,737 |
Abaxis, Inc. | 646 | 30,840 |
Accuray, Inc. * | 1,662 | 8,144 |
Aceto Corp. | 480 | 8,798 |
Adeptus Health, Inc., Class A * | 21,427 | 645,381 |
Air Methods Corp. * | 886 | 23,435 |
Allscripts Healthcare Solutions, Inc. * | 107,795 | 1,294,618 |
Almost Family, Inc. * | 209 | 8,203 |
Amedisys, Inc. * | 449 | 19,424 |
American Renal Associates Holdings, Inc. * | 116 | 2,049 |
AMN Healthcare Services, Inc. * | 772 | 25,322 |
Amsurg Corp. * | 14,070 | 840,682 |
Analogic Corp. | 146 | 11,950 |
AngioDynamics, Inc. * | 255 | 4,065 |
Anika Therapeutics, Inc. * | 414 | 18,365 |
AtriCure, Inc. * | 655 | 11,947 |
Atrion Corp. | 18 | 7,905 |
Avinger, Inc. * | 258 | 903 |
AxoGen, Inc. * | 1,302 | 11,523 |
BioScrip, Inc. * | 891 | 2,397 |
BioTelemetry, Inc. * | 547 | 9,682 |
Brookdale Senior Living, Inc. * | 42,717 | 616,406 |
Cantel Medical Corp. | 518 | 36,897 |
Capital Senior Living Corp. * | 1,332 | 21,272 |
Cardiovascular Systems, Inc. * | 948 | 22,212 |
Castlight Health, Inc., Class B * | 722 | 3,141 |
Cerus Corp. * | 1,053 | 5,075 |
Chemed Corp. | 228 | 32,244 |
Civitas Solutions, Inc. * | 65 | 1,112 |
Community Health Systems, Inc. * | 1,266 | 6,684 |
Computer Programs & Systems, Inc. | 418 | 10,910 |
ConforMIS, Inc. * | 778 | 5,936 |
CONMED Corp. | 746 | 29,840 |
Corindus Vascular Robotics, Inc. * | 337 | 260 |
CorVel Corp. * | 18,324 | 633,094 |
Cotiviti Holdings, Inc. * | 160 | 4,939 |
Cross Country Healthcare, Inc. * | 513 | 5,730 |
CryoLife, Inc. | 456 | 7,752 |
Cutera, Inc. * | 46 | 603 |
Security | Number of Shares | Value ($) |
Cynosure, Inc., Class A * | 255 | 10,876 |
Diplomat Pharmacy, Inc. * | 543 | 12,581 |
Endologix, Inc. * | 2,378 | 24,874 |
Entellus Medical, Inc. * | 56 | 1,145 |
Evolent Health, Inc., Class A * | 176 | 3,705 |
Exactech, Inc. * | 178 | 4,299 |
Genesis Healthcare, Inc. * | 239 | 626 |
GenMark Diagnostics, Inc. * | 323 | 3,446 |
Glaukos Corp. * | 142 | 4,743 |
Globus Medical, Inc., Class A * | 1,747 | 38,661 |
Haemonetics Corp. * | 41,744 | 1,394,667 |
Halyard Health, Inc. * | 1,169 | 37,817 |
HealthEquity, Inc. * | 754 | 25,055 |
HealthSouth Corp. | 1,893 | 76,004 |
HealthStream, Inc. * | 236 | 6,365 |
Healthways, Inc. * | 1,091 | 27,057 |
HMS Holdings Corp. * | 1,473 | 31,036 |
ICU Medical, Inc. * | 5,910 | 823,263 |
Inogen, Inc. * | 267 | 14,330 |
Insulet Corp. * | 1,222 | 45,361 |
Integer Holdings Corp. * | 346 | 7,629 |
Integra LifeSciences Holdings Corp. * | 684 | 54,385 |
Invacare Corp. | 1,510 | 13,817 |
InVivo Therapeutics Holdings Corp. * | 314 | 1,366 |
iRadimed Corp. * | 63 | 595 |
K2M Group Holdings, Inc. * | 440 | 7,511 |
Kindred Healthcare, Inc. | 1,773 | 17,464 |
Landauer, Inc. | 74 | 3,219 |
LeMaitre Vascular, Inc. | 295 | 6,177 |
LHC Group, Inc. * | 530 | 18,163 |
Magellan Health, Inc. * | 626 | 32,208 |
Masimo Corp. * | 954 | 52,470 |
Medidata Solutions, Inc. * | 974 | 46,742 |
Meridian Bioscience, Inc. | 1,390 | 22,865 |
Merit Medical Systems, Inc. * | 1,339 | 29,391 |
Molina Healthcare, Inc. * | 1,019 | 55,444 |
National HealthCare Corp. | 93 | 6,017 |
National Research Corp., Class A | 104 | 1,596 |
Natus Medical, Inc. * | 908 | 35,730 |
Neogen Corp. * | 480 | 25,291 |
Nevro Corp. * | 432 | 39,709 |
Nobilis Health Corp. * | 215 | 720 |
Novocure Ltd. * | 281 | 1,700 |
NuVasive, Inc. * | 1,101 | 65,763 |
NxStage Medical, Inc. * | 1,055 | 23,991 |
Omnicell, Inc. * | 539 | 17,585 |
OraSure Technologies, Inc. * | 659 | 4,949 |
Orthofix International N.V. * | 569 | 20,854 |
Owens & Minor, Inc. | 1,456 | 47,247 |
Oxford Immunotec Global plc * | 100 | 1,286 |
Penumbra, Inc. * | 333 | 21,961 |
PharMerica Corp. * | 569 | 13,542 |
Quality Systems, Inc. | 1,209 | 15,584 |
Quidel Corp. * | 193 | 3,725 |
Quorum Health Corp. * | 281 | 1,135 |
RadNet, Inc. * | 580 | 4,031 |
Rockwell Medical, Inc. * | 751 | 4,363 |
RTI Surgical, Inc. * | 213 | 543 |
Second Sight Medical Products, Inc. * | 195 | 509 |
Select Medical Holdings Corp. * | 1,958 | 25,454 |
Senseonics Holdings, Inc. * | 791 | 1,851 |
STAAR Surgical Co. * | 395 | 3,338 |
Surgery Partners, Inc. * | 195 | 3,140 |
Surgical Care Affiliates, Inc. * | 274 | 11,724 |
Surmodics, Inc. * | 218 | 5,428 |
Tandem Diabetes Care, Inc. * | 1,007 | 6,092 |
Team Health Holdings, Inc. * | 1,397 | 59,861 |
Teladoc, Inc. * | 237 | 3,851 |
Security | Number of Shares | Value ($) |
The Ensign Group, Inc. | 999 | 18,452 |
The Providence Service Corp. * | 187 | 7,567 |
The Spectranetics Corp. * | 1,251 | 27,147 |
TransEnterix, Inc. * | 623 | 935 |
Triple-S Management Corp., Class B * | 185 | 3,826 |
U.S. Physical Therapy, Inc. | 52 | 2,959 |
Universal American Corp. * | 1,448 | 10,874 |
Utah Medical Products, Inc. | 34 | 2,113 |
Vascular Solutions, Inc. * | 373 | 17,009 |
Veracyte, Inc. * | 126 | 915 |
Vocera Communications, Inc. * | 732 | 13,469 |
Wright Medical Group N.V. * | 2,199 | 48,180 |
Zeltiq Aesthetics, Inc. * | 802 | 26,546 |
8,046,396 | ||
Household & Personal Products 0.4% | ||
Avon Products, Inc. | 63,424 | 415,427 |
Central Garden & Pet Co. * | 281 | 6,834 |
Central Garden & Pet Co., Class A * | 1,087 | 25,371 |
HRG Group, Inc. * | 1,852 | 27,854 |
Inter Parfums, Inc. | 107 | 3,488 |
Medifast, Inc. | 486 | 19,955 |
Natural Health Trends Corp. | 118 | 2,753 |
Nature's Sunshine Products, Inc. | 105 | 1,318 |
Nutraceutical International Corp. * | 84 | 2,419 |
Oil-Dri Corp. of America | 61 | 2,059 |
Orchids Paper Products Co. | 200 | 5,132 |
Revlon, Inc., Class A * | 69 | 2,346 |
Synutra International, Inc. * | 329 | 1,283 |
USANA Health Sciences, Inc. * | 63 | 8,096 |
WD-40 Co. | 266 | 28,362 |
552,697 | ||
Insurance 1.9% | ||
Ambac Financial Group, Inc. * | 1,101 | 20,313 |
American Equity Investment Life Holding Co. | 1,741 | 31,216 |
AMERISAFE, Inc. | 526 | 29,246 |
Argo Group International Holdings Ltd. | 406 | 22,574 |
Assurant, Inc. | 9,084 | 731,444 |
Atlas Financial Holdings, Inc. * | 74 | 1,269 |
Baldwin & Lyons, Inc., Class B | 70 | 1,722 |
Citizens, Inc. * | 419 | 3,260 |
CNO Financial Group, Inc. | 3,587 | 54,092 |
Crawford & Co., Class B | 204 | 2,295 |
Donegal Group, Inc., Class A | 315 | 4,741 |
eHealth, Inc. * | 1,229 | 9,623 |
EMC Insurance Group, Inc. | 96 | 2,338 |
Employers Holdings, Inc. | 938 | 29,406 |
Enstar Group Ltd. * | 144 | 24,278 |
FBL Financial Group, Inc., Class A | 152 | 9,622 |
Federated National Holding Co. | 333 | 5,964 |
Fidelity & Guaranty Life | 491 | 10,851 |
FNF Group | 2,600 | 93,366 |
Genworth Financial, Inc., Class A * | 7,383 | 30,566 |
Global Indemnity plc * | 72 | 2,163 |
Greenlight Capital Re Ltd., Class A * | 325 | 6,467 |
Hallmark Financial Services, Inc. * | 183 | 1,896 |
HCI Group, Inc. | 515 | 13,962 |
Heritage Insurance Holdings, Inc. | 887 | 10,458 |
Horace Mann Educators Corp. | 1,085 | 39,006 |
Independence Holding Co. | 146 | 2,562 |
Infinity Property & Casualty Corp. | 74 | 6,064 |
James River Group Holdings Ltd. | 58 | 2,183 |
Kemper Corp. | 22,313 | 837,853 |
Maiden Holdings Ltd. | 1,862 | 25,416 |
MBIA, Inc. * | 1,586 | 12,212 |
Security | Number of Shares | Value ($) |
National General Holdings Corp. | 723 | 14,858 |
National Interstate Corp. | 57 | 1,847 |
National Western Life Group, Inc., Class A | 9 | 1,939 |
OneBeacon Insurance Group Ltd., Class A | 228 | 3,133 |
Patriot National, Inc. * | 307 | 1,946 |
Primerica, Inc. | 7,798 | 426,550 |
RLI Corp. | 604 | 33,667 |
Safety Insurance Group, Inc. | 100 | 6,770 |
Selective Insurance Group, Inc. | 1,327 | 49,033 |
State Auto Financial Corp. | 93 | 2,130 |
State National Cos., Inc. | 18,904 | 193,388 |
Stewart Information Services Corp. | 329 | 14,788 |
The Navigators Group, Inc. | 103 | 9,600 |
Third Point Reinsurance Ltd. * | 2,184 | 25,662 |
Trupanion, Inc. * | 171 | 2,768 |
United Fire Group, Inc. | 216 | 8,536 |
United Insurance Holdings Corp. | 492 | 7,134 |
Universal Insurance Holdings, Inc. | 969 | 20,640 |
WMIH Corp. * | 1,345 | 2,824 |
2,905,641 | ||
Materials 5.8% | ||
A. Schulman, Inc. | 942 | 27,082 |
AEP Industries, Inc. | 26 | 2,848 |
AgroFresh Solutions, Inc. * | 1,023 | 4,808 |
AK Steel Holding Corp. * | 4,259 | 22,147 |
Allegheny Technologies, Inc. | 1,391 | 18,973 |
American Vanguard Corp. | 624 | 9,485 |
Balchem Corp. | 444 | 33,700 |
Boise Cascade Co. * | 857 | 16,497 |
Calgon Carbon Corp. | 1,414 | 22,341 |
Carpenter Technology Corp. | 937 | 29,619 |
Century Aluminum Co. * | 965 | 7,054 |
Chase Corp. | 76 | 5,195 |
Chemtura Corp. * | 1,508 | 49,462 |
Clearwater Paper Corp. * | 361 | 19,169 |
Cliffs Natural Resources, Inc. * | 2,635 | 14,545 |
Codexis, Inc. * | 732 | 3,697 |
Coeur Mining, Inc. * | 3,845 | 42,987 |
Commercial Metals Co. | 2,753 | 43,250 |
Deltic Timber Corp. | 19,939 | 1,120,173 |
Ferro Corp. * | 2,027 | 26,270 |
Ferroglobe plc | 1,153 | 10,665 |
Flotek Industries, Inc. * | 1,684 | 19,838 |
FutureFuel Corp. | 837 | 9,174 |
GCP Applied Technologies, Inc. * | 922 | 23,834 |
Gold Resource Corp. | 925 | 5,254 |
Greif, Inc., Class A | 31,577 | 1,479,698 |
H.B. Fuller Co. | 1,161 | 48,843 |
Handy & Harman Ltd. * | 99 | 1,896 |
Hawkins, Inc. | 42 | 1,695 |
Haynes International, Inc. | 111 | 3,571 |
Headwaters, Inc. * | 1,528 | 25,059 |
Hecla Mining Co. | 5,189 | 31,082 |
Ingevity Corp. * | 543 | 22,480 |
Innophos Holdings, Inc. | 374 | 17,144 |
Innospec, Inc. | 641 | 38,620 |
Kaiser Aluminum Corp. | 343 | 24,864 |
KapStone Paper & Packaging Corp. | 1,490 | 27,029 |
KMG Chemicals, Inc. | 550 | 14,927 |
Koppers Holdings, Inc. * | 394 | 12,903 |
Kraton Corp. * | 682 | 17,480 |
Kronos Worldwide, Inc. | 417 | 3,207 |
Louisiana-Pacific Corp. * | 2,408 | 44,187 |
LSB Industries, Inc. * | 974 | 5,152 |
Materion Corp. | 279 | 8,454 |
Methanex Corp. | 44,438 | 1,615,321 |
Security | Number of Shares | Value ($) |
Minerals Technologies, Inc. | 829 | 55,709 |
Multi Packaging Solutions International Ltd. * | 33,607 | 454,031 |
Myers Industries, Inc. | 212 | 2,555 |
Neenah Paper, Inc. | 324 | 25,888 |
Olin Corp. | 3,010 | 66,009 |
Olympic Steel, Inc. | 504 | 11,637 |
OMNOVA Solutions, Inc. * | 584 | 4,438 |
P.H. Glatfelter Co. | 635 | 14,110 |
PolyOne Corp. | 1,861 | 54,397 |
Quaker Chemical Corp. | 131 | 14,082 |
Rayonier Advanced Materials, Inc. | 1,158 | 14,973 |
Real Industry, Inc. * | 698 | 3,734 |
Ryerson Holding Corp. * | 520 | 5,330 |
Schnitzer Steel Industries, Inc., Class A | 928 | 22,411 |
Schweitzer-Mauduit International, Inc. | 469 | 17,311 |
Sensient Technologies Corp. | 24,472 | 1,823,409 |
Stepan Co. | 203 | 14,419 |
Stillwater Mining Co. * | 1,767 | 23,536 |
Summit Materials, Inc., Class A * | 1,277 | 23,931 |
SunCoke Energy, Inc. | 1,064 | 10,863 |
TerraVia Holdings, Inc. * | 781 | 1,835 |
The Chemours Co. | 3,012 | 49,487 |
The Mosaic Co. | 39,742 | 935,129 |
TimkenSteel Corp. * | 1,268 | 12,997 |
Trecora Resources * | 384 | 3,936 |
Tredegar Corp. | 361 | 6,679 |
Trinseo S.A. | 597 | 31,313 |
Tronox Ltd., Class A | 1,836 | 14,872 |
United States Lime & Minerals, Inc. | 34 | 2,237 |
US Concrete, Inc. * | 252 | 12,575 |
Valhi, Inc. | 221 | 433 |
Worthington Industries, Inc. | 1,067 | 50,149 |
8,816,094 | ||
Media 1.4% | ||
AMC Entertainment Holdings, Inc., Class A | 264 | 8,303 |
Carmike Cinemas, Inc. * | 796 | 25,989 |
Central European Media Enterprises Ltd., Class A * | 775 | 1,899 |
Daily Journal Corp. * | 23 | 4,858 |
Entercom Communications Corp., Class A | 610 | 8,052 |
Entravision Communications Corp., Class A | 470 | 3,149 |
Eros International plc * | 135 | 2,396 |
Gannett Co., Inc. | 1,480 | 11,500 |
Global Eagle Entertainment, Inc. * | 637 | 5,128 |
Gray Television, Inc. * | 627 | 5,580 |
Hemisphere Media Group, Inc. * | 122 | 1,427 |
IMAX Corp. * | 1,458 | 44,104 |
Liberty Media Corp. - Liberty Braves, Class A * | 862 | 14,611 |
Liberty Media Corp. - Liberty Braves, Class C * | 357 | 5,951 |
Liberty Media Corp. - Liberty Media, Class A * | 677 | 18,841 |
Liberty Media Corp. - Liberty Media, Class C * | 412 | 11,293 |
Loral Space & Communications, Inc. * | 92 | 3,570 |
MDC Partners, Inc., Class A | 752 | 6,354 |
Media General, Inc. * | 2,037 | 34,323 |
Meredith Corp. | 893 | 40,498 |
MSG Networks, Inc., Class A * | 545 | 10,409 |
National CineMedia, Inc. | 1,361 | 18,877 |
New Media Investment Group, Inc. | 1,033 | 14,875 |
Nexstar Broadcasting Group, Inc., Class A | 17,731 | 865,273 |
Reading International, Inc., Class A * | 278 | 3,667 |
Saga Communications, Inc., Class A | 146 | 6,132 |
Scholastic Corp. | 383 | 14,650 |
Sinclair Broadcast Group, Inc., Class A | 37,234 | 934,573 |
The E.W. Scripps Co., Class A * | 1,581 | 20,964 |
Security | Number of Shares | Value ($) |
The New York Times Co., Class A | 2,192 | 23,893 |
Time, Inc. | 2,050 | 26,650 |
Townsquare Media, Inc., Class A * | 107 | 897 |
tronc, Inc. | 258 | 3,104 |
World Wrestling Entertainment, Inc., Class A | 891 | 15,753 |
2,217,543 | ||
Pharmaceuticals, Biotechnology & Life Sciences 4.1% | ||
Accelerate Diagnostics, Inc. * | 333 | 7,076 |
Acceleron Pharma, Inc. * | 277 | 7,764 |
AcelRx Pharmaceuticals, Inc. * | 1,123 | 3,144 |
Achillion Pharmaceuticals, Inc. * | 2,334 | 14,658 |
Acorda Therapeutics, Inc. * | 1,175 | 20,797 |
Adamas Pharmaceuticals, Inc. * | 190 | 2,611 |
Aduro Biotech, Inc. * | 311 | 3,343 |
Advaxis, Inc. * | 1,620 | 13,106 |
Adverum Biotechnologies, Inc. * | 284 | 838 |
Aerie Pharmaceuticals, Inc. * | 490 | 16,292 |
Agenus, Inc. * | 1,843 | 7,317 |
Agile Therapeutics, Inc. * | 161 | 1,224 |
Aimmune Therapeutics, Inc. * | 254 | 4,135 |
Akebia Therapeutics, Inc. * | 1,263 | 9,498 |
Akorn, Inc. * | 18,468 | 442,309 |
Albany Molecular Research, Inc. * | 1,240 | 19,332 |
Alder Biopharmaceuticals, Inc. * | 529 | 12,828 |
AMAG Pharmaceuticals, Inc. * | 991 | 25,469 |
Amicus Therapeutics, Inc. * | 2,318 | 15,994 |
Amphastar Pharmaceuticals, Inc. * | 1,104 | 20,027 |
Ampio Pharmaceuticals, Inc. * | 890 | 611 |
Anavex Life Sciences Corp. * | 736 | 2,053 |
ANI Pharmaceuticals, Inc. * | 59 | 3,522 |
Anthera Pharmaceuticals, Inc. * | 1,008 | 2,218 |
Applied Genetic Technologies Corp. * | 57 | 408 |
Aptevo Therapeutics, Inc. * | 474 | 1,048 |
Aratana Therapeutics, Inc. * | 918 | 7,436 |
Ardelyx, Inc. * | 91 | 1,119 |
Arena Pharmaceuticals, Inc. * | 2,410 | 3,567 |
ARIAD Pharmaceuticals, Inc. * | 4,316 | 37,636 |
Array BioPharma, Inc. * | 2,353 | 13,412 |
Arrowhead Pharmaceuticals, Inc. * | 2,550 | 14,790 |
Asterias Biotherapeutics, Inc. * | 325 | 1,073 |
Atara Biotherapeutics, Inc. * | 293 | 3,750 |
Athersys, Inc. * | 1,566 | 2,834 |
Axovant Sciences Ltd. * | 269 | 3,311 |
Bellicum Pharmaceuticals, Inc. * | 336 | 5,564 |
BioCryst Pharmaceuticals, Inc. * | 1,465 | 5,933 |
BioSpecifics Technologies Corp. * | 132 | 5,727 |
BioTime, Inc. * | 1,272 | 4,096 |
Bluebird Bio, Inc. * | 513 | 24,496 |
Blueprint Medicines Corp. * | 52 | 1,559 |
Cambrex Corp. * | 577 | 23,253 |
Cara Therapeutics, Inc. * | 1,478 | 10,331 |
Catalent, Inc. * | 1,831 | 41,765 |
Celldex Therapeutics, Inc. * | 2,826 | 8,902 |
Cellular Biomedicine Group, Inc. * | 40 | 482 |
Cempra, Inc. * | 515 | 9,334 |
Cepheid * | 1,608 | 85,063 |
Charles River Laboratories International, Inc. * | 12,810 | 972,023 |
ChemoCentryx, Inc. * | 323 | 1,932 |
Chimerix, Inc. * | 2,343 | 9,489 |
Cidara Therapeutics, Inc. * | 101 | 960 |
Clovis Oncology, Inc. * | 973 | 28,295 |
Coherus Biosciences, Inc. * | 361 | 9,873 |
Collegium Pharmaceutical, Inc. * | 77 | 1,153 |
Concert Pharmaceuticals, Inc. * | 89 | 687 |
Corcept Therapeutics, Inc. * | 1,418 | 9,841 |
Security | Number of Shares | Value ($) |
Curis, Inc. * | 479 | 1,245 |
Cytokinetics, Inc. * | 1,794 | 17,402 |
CytomX Therapeutics, Inc. * | 321 | 3,618 |
CytRx Corp. * | 1,143 | 528 |
Depomed, Inc. * | 1,173 | 26,228 |
Dermira, Inc. * | 711 | 22,290 |
Durect Corp. * | 581 | 651 |
Dynavax Technologies Corp. * | 1,390 | 12,857 |
Eagle Pharmaceuticals, Inc. * | 17 | 950 |
Emergent BioSolutions, Inc. * | 949 | 25,357 |
Enanta Pharmaceuticals, Inc. * | 447 | 10,513 |
Endocyte, Inc. * | 91 | 250 |
Enzo Biochem, Inc. * | 1,564 | 9,540 |
Epizyme, Inc. * | 452 | 4,091 |
Esperion Therapeutics, Inc. * | 1,264 | 13,019 |
Exact Sciences Corp. * | 2,471 | 38,498 |
Exelixis, Inc. * | 4,922 | 52,124 |
FibroGen, Inc. * | 421 | 6,968 |
Five Prime Therapeutics, Inc. * | 282 | 13,685 |
Flex Pharma, Inc. * | 73 | 355 |
Flexion Therapeutics, Inc. * | 965 | 18,431 |
Fluidigm Corp. * | 582 | 2,695 |
Foundation Medicine, Inc. * | 105 | 2,384 |
Galena Biopharma, Inc. * | 1,426 | 328 |
Genomic Health, Inc. * | 439 | 13,087 |
Geron Corp. * | 2,176 | 4,026 |
Global Blood Therapeutics, Inc. * | 309 | 5,392 |
GW Pharmaceuticals PLC * | 6,325 | 742,492 |
Halozyme Therapeutics, Inc. * | 2,279 | 19,668 |
Heron Therapeutics, Inc. * | 432 | 6,415 |
Heska Corp. * | 49 | 2,421 |
Horizon Pharma plc * | 3,613 | 60,409 |
Idera Pharmaceuticals, Inc. * | 589 | 913 |
Ignyta, Inc. * | 339 | 1,695 |
Immune Design, Corp. * | 60 | 321 |
ImmunoGen, Inc. * | 1,807 | 3,289 |
Immunomedics, Inc. * | 1,236 | 2,843 |
Impax Laboratories, Inc. * | 1,327 | 26,673 |
INC Research Holdings, Inc., Class A * | 661 | 30,208 |
Infinity Pharmaceuticals, Inc. * | 1,339 | 1,620 |
Innoviva, Inc. * | 1,753 | 18,056 |
Inotek Pharmaceuticals Corp. * | 780 | 5,460 |
Inovio Pharmaceuticals, Inc. * | 2,131 | 13,788 |
Insmed, Inc. * | 998 | 12,954 |
Insys Therapeutics, Inc. * | 435 | 4,702 |
Intellia Therapeutics, Inc. * | 115 | 1,585 |
Intersect ENT, Inc. * | 512 | 7,475 |
Intra-Cellular Therapies, Inc. * | 746 | 9,250 |
Invitae Corp. * | 96 | 737 |
Ironwood Pharmaceuticals, Inc. * | 2,397 | 30,610 |
Jazz Pharmaceuticals plc * | 3,290 | 360,156 |
Karyopharm Therapeutics, Inc. * | 282 | 2,042 |
Keryx Biopharmaceuticals, Inc. * | 1,722 | 7,766 |
Kite Pharma, Inc. * | 554 | 24,537 |
La Jolla Pharmaceutical Co. * | 185 | 3,237 |
Lannett Co., Inc. * | 515 | 11,278 |
Lexicon Pharmaceuticals, Inc. * | 1,415 | 20,984 |
Ligand Pharmaceuticals, Inc. * | 429 | 41,068 |
Lion Biotechnologies, Inc. * | 806 | 5,037 |
Lipocine, Inc. * | 408 | 1,310 |
Loxo Oncology, Inc. * | 107 | 2,232 |
Luminex Corp. * | 977 | 20,351 |
MacroGenics, Inc. * | 300 | 7,107 |
MannKind Corp. * | 2,185 | 912 |
Medgenics, Inc. * | 226 | 1,089 |
MediciNova, Inc. * | 443 | 3,008 |
Merrimack Pharmaceuticals, Inc. * | 3,197 | 16,688 |
MiMedx Group, Inc. * | 2,039 | 18,167 |
Security | Number of Shares | Value ($) |
Minerva Neurosciences, Inc. * | 284 | 3,167 |
Mirati Therapeutics, Inc. * | 251 | 1,268 |
Momenta Pharmaceuticals, Inc. * | 1,389 | 15,487 |
Myriad Genetics, Inc. * | 1,529 | 30,137 |
NanoString Technologies, Inc. * | 277 | 5,388 |
NantKwest, Inc. * | 492 | 2,947 |
Natera, Inc. * | 446 | 3,782 |
Nektar Therapeutics * | 2,406 | 29,834 |
NeoGenomics, Inc. * | 1,470 | 11,848 |
NewLink Genetics Corp. * | 879 | 10,680 |
Novavax, Inc. * | 6,649 | 10,106 |
Ocular Therapeutix, Inc. * | 299 | 1,692 |
Omeros Corp. * | 700 | 5,740 |
OncoMed Pharmaceuticals, Inc. * | 255 | 2,313 |
Ophthotech Corp. * | 373 | 13,361 |
Organovo Holdings, Inc. * | 547 | 1,362 |
Osiris Therapeutics, Inc. * | 165 | 662 |
Otonomy, Inc. * | 176 | 2,658 |
OvaScience, Inc. * | 353 | 1,779 |
Pacific Biosciences of California, Inc. * | 1,886 | 16,031 |
Pacira Pharmaceuticals, Inc. * | 574 | 18,253 |
Paratek Pharmaceuticals, Inc. * | 1,205 | 12,893 |
PAREXEL International Corp. * | 1,220 | 71,077 |
PDL BioPharma, Inc. | 437 | 1,407 |
Pfenex, Inc. * | 76 | 609 |
PharmAthene, Inc. * | 1,322 | 3,635 |
Phibro Animal Health Corp., Class A | 24,640 | 639,408 |
Portola Pharmaceuticals, Inc. * | 1,123 | 20,416 |
PRA Health Sciences, Inc. * | 634 | 33,741 |
Prestige Brands Holdings, Inc. * | 1,195 | 54,110 |
Progenics Pharmaceuticals Inc * | 2,248 | 11,307 |
Prothena Corp. plc * | 463 | 22,141 |
PTC Therapeutics, Inc. * | 1,762 | 10,942 |
Puma Biotechnology, Inc. * | 283 | 10,839 |
Radius Health, Inc. * | 526 | 22,576 |
Regulus Therapeutics, Inc. * | 1,008 | 2,772 |
Repligen Corp. * | 789 | 22,542 |
Retrophin, Inc. * | 818 | 15,419 |
Revance Therapeutics, Inc. * | 384 | 5,126 |
Rigel Pharmaceuticals, Inc. * | 997 | 2,592 |
Sage Therapeutics, Inc. * | 666 | 28,998 |
Sangamo BioSciences, Inc. * | 2,249 | 7,984 |
Sarepta Therapeutics, Inc. * | 1,029 | 40,378 |
SciClone Pharmaceuticals, Inc. * | 1,566 | 14,016 |
Seres Therapeutics, Inc. * | 104 | 1,122 |
Sorrento Therapeutics, Inc. * | 321 | 1,846 |
Spark Therapeutics, Inc. * | 202 | 9,496 |
Spectrum Pharmaceuticals, Inc. * | 1,813 | 6,418 |
Stemline Therapeutics, Inc. * | 66 | 752 |
Sucampo Pharmaceuticals, Inc., Class A * | 870 | 9,918 |
Supernus Pharmaceuticals, Inc. * | 1,145 | 22,671 |
Synergy Pharmaceuticals, Inc. * | 1,684 | 7,730 |
Synthetic Biologics, Inc. * | 1,651 | 2,311 |
T2 Biosystems, Inc. * | 746 | 4,715 |
Teligent, Inc. * | 548 | 3,567 |
TESARO, Inc. * | 484 | 58,506 |
Tetraphase Pharmaceuticals, Inc. * | 771 | 2,699 |
TG Therapeutics, Inc. * | 671 | 3,590 |
The Medicines Co. * | 1,581 | 52,094 |
TherapeuticsMD, Inc. * | 159,699 | 916,672 |
Theravance Biopharma, Inc. * | 712 | 17,893 |
Titan Pharmaceuticals, Inc. * | 531 | 2,416 |
Tobira Therapeutics, Inc. * | 77 | 3,241 |
Tokai Pharmaceuticals, Inc. * | 98 | 108 |
Trevena, Inc. * | 1,753 | 8,555 |
Trovagene, Inc. * | 585 | 2,018 |
Ultragenyx Pharmaceutical, Inc. * | 527 | 31,088 |
Vanda Pharmaceuticals, Inc. * | 1,465 | 21,755 |
Security | Number of Shares | Value ($) |
Versartis, Inc. * | 63 | 696 |
Vital Therapies, Inc. * | 63 | 337 |
XBiotech, Inc. * | 182 | 2,412 |
Xencor, Inc. * | 281 | 5,982 |
Zafgen, Inc. * | 1,049 | 3,157 |
ZIOPHARM Oncology, Inc. * | 2,647 | 15,035 |
Zogenix, Inc. * | 226 | 1,842 |
6,328,438 | ||
Real Estate 4.1% | ||
Acadia Realty Trust | 1,686 | 56,801 |
Agree Realty Corp. | 496 | 23,982 |
Alexander & Baldwin, Inc. | 618 | 25,826 |
Alexander's, Inc. | 13 | 4,995 |
Altisource Portfolio Solutions S.A. * | 298 | 7,673 |
American Assets Trust, Inc. | 547 | 21,721 |
Armada Hoffler Properties, Inc. | 569 | 7,642 |
Ashford Hospitality Prime, Inc. | 200 | 2,592 |
Ashford Hospitality Trust, Inc. | 1,259 | 7,315 |
AV Homes, Inc. * | 49 | 782 |
Bluerock Residential Growth REIT, Inc. | 671 | 8,320 |
CareTrust REIT, Inc. | 1,030 | 14,502 |
CatchMark Timber Trust, Inc., Class A | 312 | 3,288 |
CBL & Associates Properties, Inc. | 2,460 | 26,322 |
Cedar Realty Trust, Inc. | 1,198 | 8,110 |
Chatham Lodging Trust | 1,204 | 21,311 |
Chesapeake Lodging Trust | 1,004 | 21,797 |
City Office REIT, Inc. | 1,369 | 17,195 |
Colony Starwood Homes | 1,675 | 48,592 |
Community Healthcare Trust, Inc. | 799 | 17,882 |
Consolidated-Tomoka Land Co. | 43 | 2,179 |
CorEnergy Infrastructure Trust, Inc. | 109 | 2,952 |
CoreSite Realty Corp. | 629 | 46,382 |
Corporate Office Properties Trust | 29,717 | 793,147 |
Cousins Properties, Inc. | 6,721 | 52,222 |
DiamondRock Hospitality Co. | 74,493 | 681,611 |
DuPont Fabros Technology, Inc. | 1,626 | 66,357 |
Easterly Government Properties, Inc. | 728 | 13,810 |
EastGroup Properties, Inc. | 748 | 50,797 |
Education Realty Trust, Inc. | 26,467 | 1,127,230 |
Farmland Partners, Inc. | 273 | 2,905 |
FelCor Lodging Trust, Inc. | 2,547 | 16,275 |
First Industrial Realty Trust, Inc. | 2,519 | 66,527 |
First Potomac Realty Trust | 1,169 | 10,427 |
Forestar Group, Inc. * | 994 | 10,934 |
Four Corners Property Trust, Inc. | 988 | 19,839 |
Franklin Street Properties Corp. | 1,386 | 16,036 |
FRP Holdings, Inc. * | 34 | 1,081 |
Getty Realty Corp. | 157 | 3,569 |
Gladstone Commercial Corp. | 506 | 9,032 |
Global Net Lease, Inc. | 1,869 | 13,849 |
Government Properties Income Trust | 1,793 | 34,318 |
Gramercy Property Trust | 6,963 | 64,199 |
Healthcare Realty Trust, Inc. | 2,072 | 66,076 |
Hersha Hospitality Trust | 1,491 | 26,570 |
HFF, Inc., Class A | 390 | 10,386 |
Hudson Pacific Properties, Inc. | 2,132 | 71,678 |
Independence Realty Trust, Inc. | 1,238 | 10,313 |
InfraREIT, Inc. | 1,365 | 22,686 |
Investors Real Estate Trust | 836 | 5,074 |
iStar, Inc. * | 2,198 | 24,464 |
Kennedy-Wilson Holdings, Inc. | 1,970 | 40,582 |
Kite Realty Group Trust | 2,020 | 50,359 |
LaSalle Hotel Properties | 2,550 | 60,562 |
Lexington Realty Trust | 3,215 | 32,600 |
LTC Properties, Inc. | 969 | 48,557 |
Mack-Cali Realty Corp. | 1,952 | 50,127 |
Security | Number of Shares | Value ($) |
Marcus & Millichap, Inc. * | 31 | 726 |
Medical Properties Trust, Inc. | 4,732 | 65,964 |
Monmouth Real Estate Investment Corp. | 1,202 | 16,431 |
Monogram Residential Trust, Inc. | 2,441 | 25,728 |
National Health Investors, Inc. | 847 | 64,169 |
National Storage Affiliates Trust | 840 | 16,447 |
New Senior Investment Group, Inc. | 1,554 | 16,193 |
New York REIT, Inc. | 2,193 | 20,658 |
NexPoint Residential Trust, Inc. | 809 | 15,080 |
NorthStar Realty Europe Corp. | 533 | 5,271 |
One Liberty Properties, Inc. | 123 | 2,898 |
Parkway, Inc. * | 840 | 15,137 |
Pebblebrook Hotel Trust | 1,317 | 31,977 |
Pennsylvania Real Estate Investment Trust | 1,837 | 35,840 |
Physicians Realty Trust | 2,228 | 44,048 |
Potlatch Corp. | 641 | 24,614 |
Preferred Apartment Communities, Inc., Class A | 701 | 9,127 |
PS Business Parks, Inc. | 265 | 29,094 |
QTS Realty Trust, Inc., Class A | 681 | 31,299 |
RAIT Financial Trust | 1,290 | 3,934 |
Ramco-Gershenson Properties Trust | 19,196 | 332,859 |
RE/MAX Holdings, Inc., Class A | 77 | 3,346 |
Retail Opportunity Investments Corp. | 2,522 | 50,717 |
Rexford Industrial Realty, Inc. | 1,736 | 36,560 |
RLJ Lodging Trust | 2,314 | 45,632 |
Ryman Hospitality Properties, Inc. | 675 | 34,033 |
Sabra Health Care REIT, Inc. | 1,251 | 29,148 |
Saul Centers, Inc. | 143 | 8,649 |
Select Income REIT | 1,613 | 39,906 |
Seritage Growth Properties, Class A | 258 | 11,752 |
Silver Bay Realty Trust Corp. | 1,269 | 21,256 |
STAG Industrial, Inc. | 1,752 | 40,419 |
Summit Hotel Properties, Inc. | 70,071 | 910,222 |
Sunstone Hotel Investors, Inc. | 3,563 | 44,751 |
Tejon Ranch Co. * | 287 | 6,412 |
Terreno Realty Corp. | 1,228 | 32,051 |
The GEO Group, Inc. | 1,493 | 35,772 |
The RMR Group, Inc., Class A | 13 | 447 |
The St. Joe Co. * | 1,441 | 25,506 |
Tier REIT, Inc. | 353 | 5,207 |
UMH Properties, Inc. | 545 | 6,605 |
Universal Health Realty Income Trust | 106 | 6,222 |
Urban Edge Properties | 2,077 | 53,607 |
Urstadt Biddle Properties, Inc., Class A | 224 | 4,816 |
Washington Prime Group, Inc. | 2,873 | 30,138 |
Washington Real Estate Investment Trust | 1,526 | 44,895 |
Whitestone REIT | 425 | 5,652 |
Xenia Hotels & Resorts, Inc. | 1,696 | 26,475 |
6,340,050 | ||
Retailing 4.5% | ||
1-800-Flowers.com, Inc., Class A * | 889 | 8,490 |
Aaron's, Inc. | 744 | 18,384 |
Abercrombie & Fitch Co., Class A | 1,715 | 25,056 |
America's Car-Mart, Inc. * | 38 | 1,552 |
American Eagle Outfitters, Inc. | 2,879 | 49,058 |
Asbury Automotive Group, Inc. * | 390 | 19,870 |
Ascena Retail Group, Inc. * | 38,307 | 187,321 |
Barnes & Noble Education, Inc. * | 1,034 | 9,627 |
Barnes & Noble, Inc. | 1,293 | 13,318 |
Big 5 Sporting Goods Corp. | 100 | 1,550 |
Big Lots, Inc. | 668 | 28,991 |
Blue Nile, Inc. | 115 | 4,017 |
Boot Barn Holdings, Inc. * | 501 | 6,413 |
Build-A-Bear Workshop, Inc. * | 513 | 6,926 |
Caleres, Inc. | 394 | 9,854 |
Security | Number of Shares | Value ($) |
Chico's FAS, Inc. | 2,335 | 27,249 |
Citi Trends, Inc. | 205 | 4,071 |
Conn's, Inc. * | 772 | 7,334 |
Core-Mark Holding Co., Inc. | 702 | 24,816 |
Destination XL Group, Inc. * | 286 | 1,158 |
DSW, Inc., Class A | 29,985 | 622,788 |
Duluth Holdings, Inc., Class B * | 125 | 3,394 |
Etsy, Inc. * | 1,615 | 20,963 |
Express, Inc. * | 1,709 | 20,542 |
Five Below, Inc. * | 1,238 | 46,524 |
Francesca's Holdings Corp. * | 938 | 15,074 |
Fred's, Inc., Class A | 87,906 | 802,582 |
FTD Cos., Inc. * | 208 | 4,185 |
Genesco, Inc. * | 375 | 20,175 |
GNC Holdings, Inc., Class A | 863 | 11,590 |
Group 1 Automotive, Inc. | 582 | 35,077 |
Guess?, Inc. | 877 | 11,840 |
Haverty Furniture Cos., Inc. | 81 | 1,438 |
Hibbett Sports, Inc. * | 740 | 28,749 |
HSN, Inc. | 802 | 30,235 |
Kirkland's, Inc. * | 457 | 5,580 |
Lands' End, Inc. * | 259 | 4,040 |
Liberty TripAdvisor Holdings, Inc., Class A * | 1,416 | 31,435 |
Lithia Motors, Inc., Class A | 12,480 | 1,070,534 |
LKQ Corp. * | 6,106 | 197,102 |
Lumber Liquidators Holdings, Inc. * | 663 | 10,283 |
MarineMax, Inc. * | 369 | 7,362 |
Monro Muffler Brake, Inc. | 511 | 28,105 |
Nutrisystem, Inc. | 911 | 28,879 |
Office Depot, Inc. | 232,710 | 733,036 |
Ollie's Bargain Outlet Holdings, Inc. * | 145 | 3,966 |
Overstock.com, Inc. * | 183 | 2,681 |
Party City Holdco, Inc. * | 586 | 9,523 |
PetMed Express, Inc. | 256 | 5,087 |
Pier 1 Imports, Inc. | 1,275 | 5,495 |
Rent-A-Center, Inc. | 1,391 | 14,035 |
Restoration Hardware Holdings, Inc. * | 1,094 | 31,693 |
Sears Holdings Corp. * | 223 | 2,478 |
Sears Hometown & Outlet Stores, Inc. * | 518 | 2,512 |
Select Comfort Corp. * | 1,354 | 25,983 |
Shoe Carnival, Inc. | 176 | 4,465 |
Shutterfly, Inc. * | 876 | 42,924 |
Sonic Automotive, Inc., Class A | 1,120 | 20,048 |
Sportsman's Warehouse Holdings, Inc. * | 618 | 5,686 |
Stage Stores, Inc. | 61,858 | 314,857 |
Staples, Inc. | 84,619 | 626,181 |
Stein Mart, Inc. | 705 | 4,244 |
Tailored Brands, Inc. | 1,391 | 21,978 |
The Buckle, Inc. | 894 | 18,640 |
The Cato Corp., Class A | 33,661 | 998,722 |
The Children's Place, Inc. | 492 | 37,367 |
The Container Store Group, Inc. * | 388 | 1,893 |
The Finish Line, Inc., Class A | 1,266 | 24,928 |
Tile Shop Holdings, Inc. * | 893 | 15,136 |
Tilly's, Inc., Class A * | 39 | 362 |
Tuesday Morning Corp. * | 1,276 | 6,316 |
Vitamin Shoppe, Inc. * | 792 | 19,840 |
Wayfair, Inc., Class A * | 351 | 11,699 |
West Marine, Inc. * | 151 | 1,208 |
Weyco Group, Inc. | 68 | 1,721 |
Williams-Sonoma, Inc. | 6,956 | 321,506 |
Winmark Corp. | 26 | 2,781 |
Zumiez, Inc. * | 880 | 19,580 |
6,872,102 | ||
Security | Number of Shares | Value ($) |
Semiconductors & Semiconductor Equipment 3.3% | ||
Advanced Energy Industries, Inc. * | 1,017 | 48,511 |
Advanced Micro Devices, Inc. * | 12,613 | 91,192 |
Alpha & Omega Semiconductor Ltd. * | 396 | 8,367 |
Ambarella, Inc. * | 599 | 36,761 |
Amkor Technology, Inc. * | 1,266 | 11,736 |
Applied Micro Circuits Corp. * | 1,646 | 12,180 |
Axcelis Technologies, Inc. * | 377 | 5,146 |
Brooks Automation, Inc. | 830 | 10,815 |
Cabot Microelectronics Corp. | 357 | 19,728 |
Cavium, Inc. * | 20,330 | 1,147,628 |
CEVA, Inc. * | 455 | 13,673 |
Cirrus Logic, Inc. * | 1,355 | 73,143 |
Diodes, Inc. * | 481 | 9,962 |
DSP Group, Inc. * | 82 | 894 |
Entegris, Inc. * | 2,046 | 32,531 |
Exar Corp. * | 1,238 | 11,167 |
FormFactor, Inc. * | 1,807 | 16,218 |
Inphi Corp. * | 653 | 24,226 |
Integrated Device Technology, Inc. * | 2,291 | 47,447 |
Intersil Corp., Class A | 2,134 | 47,119 |
IXYS Corp. | 288 | 3,053 |
Kopin Corp. * | 1,298 | 2,713 |
Lattice Semiconductor Corp. * | 1,307 | 7,933 |
MACOM Technology Solutions Holdings, Inc. * | 727 | 26,725 |
Marvell Technology Group Ltd. | 15,988 | 208,324 |
Maxim Integrated Products, Inc. | 8,409 | 333,249 |
MaxLinear, Inc., Class A * | 1,293 | 24,192 |
Microsemi Corp. * | 10,405 | 438,363 |
MKS Instruments, Inc. | 1,061 | 53,527 |
Monolithic Power Systems, Inc. | 640 | 50,438 |
Nanometrics, Inc. * | 675 | 14,101 |
NeoPhotonics Corp. * | 716 | 10,024 |
NVE Corp. | 36 | 2,026 |
PDF Solutions, Inc. * | 442 | 8,729 |
Photronics, Inc. * | 1,161 | 11,262 |
Power Integrations, Inc. | 346 | 22,300 |
Rambus, Inc. * | 1,813 | 22,100 |
Rudolph Technologies, Inc. * | 1,255 | 22,715 |
Semtech Corp. * | 1,472 | 35,622 |
Sigma Designs, Inc. * | 951 | 6,942 |
Silicon Laboratories, Inc. * | 914 | 54,794 |
Synaptics, Inc. * | 851 | 44,354 |
Teradyne, Inc. | 49,899 | 1,162,148 |
Tessera Technologies, Inc. | 1,197 | 44,409 |
Ultra Clean Holdings, Inc. * | 244 | 2,074 |
Ultratech, Inc. * | 499 | 10,624 |
United Microelectronics Corp. | 348,711 | 662,551 |
Veeco Instruments, Inc. * | 1,312 | 28,470 |
Xcerra Corp. * | 765 | 4,215 |
4,986,421 | ||
Software & Services 4.7% | ||
2U, Inc. * | 696 | 24,263 |
8x8, Inc. * | 1,802 | 25,678 |
A10 Networks, Inc. * | 1,915 | 14,669 |
ACI Worldwide, Inc. * | 1,645 | 29,807 |
Actua Corp. * | 338 | 3,938 |
Acxiom Corp. * | 1,015 | 23,913 |
Alarm.com Holdings, Inc. * | 136 | 3,968 |
Amber Road, Inc. * | 651 | 6,204 |
American Software, Inc., Class A | 406 | 4,235 |
Angie's List, Inc. * | 577 | 4,443 |
Apigee Corp. * | 374 | 6,489 |
Aspen Technology, Inc. * | 1,690 | 83,216 |
Autobytel, Inc. * | 219 | 3,581 |
Security | Number of Shares | Value ($) |
Bankrate, Inc. * | 1,367 | 10,663 |
Barracuda Networks, Inc. * | 364 | 8,488 |
Bazaarvoice, Inc. * | 1,866 | 9,143 |
Benefitfocus, Inc. * | 80 | 2,600 |
Blackbaud, Inc. | 723 | 44,392 |
Blackhawk Network Holdings, Inc. * | 918 | 31,625 |
Blucora, Inc. * | 1,739 | 23,129 |
Bottomline Technologies de, Inc. * | 1,170 | 26,547 |
Box, Inc., Class A * | 953 | 13,742 |
Brightcove, Inc. * | 1,355 | 15,108 |
Broadridge Financial Solutions, Inc. | 5,990 | 387,313 |
BroadSoft, Inc. * | 797 | 33,115 |
CACI International, Inc., Class A * | 348 | 34,052 |
Callidus Software, Inc. * | 1,586 | 28,944 |
Carbonite, Inc. * | 691 | 11,782 |
Cardtronics plc, Class A * | 776 | 38,800 |
Care.com, Inc. * | 342 | 3,105 |
Cass Information Systems, Inc. | 37 | 1,993 |
ChannelAdvisor Corp. * | 337 | 3,707 |
Cimpress N.V. * | 582 | 48,451 |
CommVault Systems, Inc. * | 14,925 | 798,487 |
comScore, Inc. * | 690 | 19,865 |
Convergys Corp. | 1,859 | 54,283 |
Cornerstone OnDemand, Inc. * | 1,198 | 49,477 |
CSG Systems International, Inc. | 525 | 19,966 |
Cvent, Inc. * | 863 | 26,943 |
Datalink Corp. * | 403 | 3,820 |
DHI Group, Inc. * | 447 | 2,548 |
Digimarc Corp. * | 61 | 1,928 |
EarthLink Holdings Corp. | 1,867 | 10,679 |
Ebix, Inc. | 337 | 18,872 |
Ellie Mae, Inc. * | 613 | 64,911 |
Endurance International Group Holdings, Inc. * | 1,025 | 7,534 |
EnerNOC, Inc. * | 552 | 2,870 |
Envestnet, Inc. * | 6,276 | 221,857 |
EPAM Systems, Inc. * | 1,038 | 66,816 |
EVERTEC, Inc. | 1,317 | 19,953 |
Everyday Health, Inc. * | 308 | 3,234 |
ExlService Holdings, Inc. * | 515 | 22,675 |
Fair Isaac Corp. | 504 | 60,823 |
Five9, Inc. * | 728 | 10,425 |
Fleetmatics Group plc * | 607 | 36,359 |
Forrester Research, Inc. | 37,616 | 1,401,196 |
Gigamon, Inc. * | 658 | 36,387 |
Globant S.A. * | 212 | 9,222 |
Glu Mobile, Inc. * | 236 | 467 |
Gogo, Inc. * | 803 | 8,118 |
GrubHub, Inc. * | 1,808 | 68,903 |
GTT Communications, Inc. * | 179 | 4,028 |
Guidance Software, Inc. * | 162 | 836 |
Hortonworks, Inc. * | 965 | 7,373 |
HubSpot, Inc. * | 354 | 18,567 |
Imperva, Inc. * | 415 | 15,314 |
inContact, Inc. * | 1,873 | 26,053 |
Infoblox, Inc. * | 1,292 | 34,238 |
Information Services Group, Inc. * | 773 | 3,053 |
Instructure, Inc. * | 169 | 4,301 |
Interactive Intelligence Group, Inc. * | 344 | 20,795 |
Intralinks Holdings, Inc. * | 1,627 | 14,920 |
j2 Global, Inc. | 927 | 65,956 |
Jive Software, Inc. * | 257 | 1,015 |
Limelight Networks, Inc. * | 612 | 1,089 |
Lionbridge Technologies, Inc. * | 739 | 3,569 |
Liquidity Services, Inc. * | 682 | 6,036 |
LivePerson, Inc. * | 1,808 | 15,368 |
LogMeIn, Inc. | 378 | 35,910 |
ManTech International Corp., Class A | 754 | 29,278 |
Security | Number of Shares | Value ($) |
Marchex, Inc., Class B * | 207 | 522 |
MAXIMUS, Inc. | 1,190 | 61,951 |
MeetMe, Inc. * | 1,363 | 6,665 |
Mentor Graphics Corp. | 1,872 | 54,101 |
MicroStrategy, Inc., Class A * | 118 | 22,988 |
MINDBODY, Inc., Class A * | 671 | 13,890 |
Mitek Systems, Inc. * | 1,840 | 12,420 |
MobileIron, Inc. * | 159 | 580 |
Model N, Inc. * | 408 | 4,202 |
MoneyGram International, Inc. * | 565 | 3,961 |
Monotype Imaging Holdings, Inc. | 829 | 15,834 |
NeuStar, Inc., Class A * | 1,320 | 29,634 |
New Relic, Inc. * | 234 | 8,529 |
NIC, Inc. | 1,263 | 28,986 |
Park City Group, Inc. * | 110 | 1,447 |
Paycom Software, Inc. * | 615 | 31,814 |
Paylocity Holding Corp. * | 160 | 6,958 |
Pegasystems, Inc. | 1,032 | 31,889 |
Perficient, Inc. * | 203 | 3,778 |
PFSweb, Inc. * | 1,094 | 7,899 |
Planet Payment, Inc. * | 694 | 2,422 |
Progress Software Corp. * | 929 | 24,999 |
Proofpoint, Inc. * | 622 | 48,752 |
PROS Holdings, Inc. * | 612 | 13,415 |
Q2 Holdings, Inc. * | 302 | 8,486 |
QAD, Inc., Class A | 297 | 7,143 |
Qualys, Inc. * | 768 | 28,608 |
QuinStreet, Inc. * | 551 | 1,598 |
Quotient Technology, Inc. * | 407 | 4,314 |
Rapid7, Inc. * | 230 | 3,296 |
RealNetworks, Inc. * | 144 | 642 |
RealPage, Inc. * | 1,488 | 40,474 |
Reis, Inc. | 91 | 1,788 |
RetailMeNot, Inc. * | 1,599 | 14,471 |
RingCentral, Inc., Class A * | 1,154 | 23,888 |
Rosetta Stone, Inc. * | 417 | 2,969 |
Sapiens International Corp. N.V. | 293 | 3,988 |
Science Applications International Corp. | 975 | 67,187 |
SecureWorks Corp., Class A * | 162 | 1,910 |
ServiceSource International, Inc. * | 546 | 2,594 |
Shutterstock, Inc. * | 545 | 32,150 |
Silver Spring Networks, Inc. * | 729 | 10,250 |
SPS Commerce, Inc. * | 166 | 10,355 |
Square, Inc. * | 40,475 | 453,320 |
Stamps.com, Inc. * | 275 | 26,826 |
Sykes Enterprises, Inc. * | 364 | 9,733 |
Synchronoss Technologies, Inc. * | 518 | 19,016 |
Syntel, Inc. | 820 | 16,482 |
Take-Two Interactive Software, Inc. * | 1,727 | 76,662 |
Tangoe, Inc. * | 530 | 4,547 |
TechTarget, Inc. * | 378 | 3,054 |
Telenav, Inc. * | 610 | 3,325 |
TeleTech Holdings, Inc. | 366 | 10,285 |
The Hackett Group, Inc. | 634 | 10,220 |
The Rubicon Project, Inc. * | 930 | 7,124 |
TiVo Corp. * | 2,653 | 52,662 |
Travelport Worldwide Ltd. | 2,852 | 40,270 |
TrueCar, Inc. * | 624 | 6,022 |
TubeMogul, Inc. * | 764 | 5,577 |
Unisys Corp. * | 1,652 | 17,263 |
Varonis Systems, Inc. * | 578 | 16,502 |
VASCO Data Security International, Inc. * | 1,266 | 17,408 |
Verint Systems, Inc. * | 1,282 | 46,152 |
VirnetX Holding Corp. * | 369 | 1,125 |
Virtusa Corp. * | 396 | 7,500 |
Web.com Group, Inc. * | 1,339 | 21,558 |
WebMD Health Corp. * | 12,896 | 633,580 |
WNS Holdings Ltd. ADR * | 20,180 | 554,950 |
Security | Number of Shares | Value ($) |
Workiva, Inc. * | 241 | 3,989 |
Xactly Corp. * | 615 | 7,934 |
XO Group, Inc. * | 322 | 5,925 |
Zendesk, Inc. * | 1,676 | 44,062 |
Zix Corp. * | 276 | 1,123 |
7,195,363 | ||
Technology Hardware & Equipment 7.5% | ||
3D Systems Corp. * | 1,579 | 21,901 |
ADTRAN, Inc. | 1,496 | 27,152 |
Aerohive Networks, Inc. * | 1,099 | 5,814 |
Agilysys, Inc. * | 60 | 579 |
Anixter International, Inc. * | 363 | 23,867 |
Applied Optoelectronics, Inc. * | 720 | 13,846 |
Avid Technology, Inc. * | 722 | 4,744 |
AVX Corp. | 1,012 | 14,188 |
Badger Meter, Inc. | 272 | 8,745 |
Bel Fuse, Inc., Class B | 120 | 2,862 |
Belden, Inc. | 32,813 | 2,126,611 |
Benchmark Electronics, Inc. * | 1,370 | 34,455 |
Black Box Corp. | 68 | 782 |
CalAmp Corp. * | 1,412 | 18,243 |
Calix, Inc. * | 441 | 2,756 |
Ciena Corp. * | 58,434 | 1,132,451 |
Clearfield, Inc. * | 106 | 1,776 |
Coherent, Inc. * | 5,420 | 564,330 |
Comtech Telecommunications Corp. | 1,381 | 14,362 |
Control4 Corp. * | 1,061 | 11,979 |
Cray, Inc. * | 461 | 9,589 |
CTS Corp. | 40,400 | 735,280 |
Daktronics, Inc. | 1,291 | 10,780 |
Diebold, Inc. | 42,544 | 927,459 |
Digi International, Inc. * | 149 | 1,363 |
DTS, Inc. | 286 | 12,112 |
Eastman Kodak Co. * | 257 | 3,829 |
Electro Scientific Industries, Inc. * | 505 | 2,616 |
Electronics For Imaging, Inc. * | 1,099 | 46,740 |
EMCORE Corp. | 1,534 | 10,048 |
ePlus, Inc. * | 28 | 2,563 |
Extreme Networks, Inc. * | 1,418 | 5,970 |
Fabrinet * | 6,029 | 228,861 |
FARO Technologies, Inc. * | 117 | 3,925 |
Finisar Corp. * | 1,692 | 46,327 |
FLIR Systems, Inc. | 20,860 | 686,711 |
Harmonic, Inc. * | 590 | 3,009 |
II-VI, Inc. * | 1,304 | 36,251 |
Immersion Corp. * | 666 | 5,435 |
Infinera Corp. * | 2,742 | 21,388 |
Insight Enterprises, Inc. * | 954 | 27,466 |
InterDigital, Inc. | 807 | 57,015 |
InvenSense, Inc. * | 1,699 | 12,997 |
Itron, Inc. * | 863 | 46,516 |
Ixia * | 1,222 | 14,603 |
Keysight Technologies, Inc. * | 7,833 | 256,922 |
Kimball Electronics, Inc. * | 123 | 1,710 |
Knowles Corp. * | 1,550 | 23,157 |
KVH Industries, Inc. * | 129 | 1,026 |
Littelfuse, Inc. | 333 | 46,453 |
Lumentum Holdings, Inc. * | 10,026 | 336,874 |
Maxwell Technologies, Inc. * | 591 | 2,860 |
Mesa Laboratories, Inc. | 31 | 3,913 |
Methode Electronics, Inc. | 20,387 | 636,074 |
MTS Systems Corp. | 255 | 12,125 |
NETGEAR, Inc. * | 830 | 41,915 |
NetScout Systems, Inc. * | 1,649 | 45,265 |
Nimble Storage, Inc. * | 992 | 7,569 |
Novanta, Inc. * | 370 | 6,457 |
Security | Number of Shares | Value ($) |
Oclaro, Inc. * | 1,564 | 11,433 |
OSI Systems, Inc. * | 314 | 22,021 |
PC Connection, Inc. | 112 | 2,600 |
Plantronics, Inc. | 846 | 43,747 |
Plexus Corp. * | 678 | 31,059 |
Pure Storage, Inc., Class A * | 479 | 5,911 |
Radisys Corp. * | 613 | 2,556 |
Rofin-Sinar Technologies, Inc. * | 841 | 27,375 |
Rogers Corp. * | 493 | 26,834 |
Sanmina Corp. * | 1,608 | 44,461 |
ScanSource, Inc. * | 34,362 | 1,202,670 |
ShoreTel, Inc. * | 1,791 | 11,910 |
Silicom Ltd. | 105 | 3,906 |
Silicon Graphics International Corp. * | 2,422 | 18,770 |
Sonus Networks, Inc. * | 1,718 | 9,947 |
Stratasys Ltd. * | 762 | 14,569 |
Super Micro Computer, Inc. * | 956 | 22,657 |
SYNNEX Corp. | 660 | 67,676 |
Systemax, Inc. | 93 | 730 |
Tech Data Corp. * | 777 | 59,845 |
TTM Technologies, Inc. * | 2,030 | 26,694 |
Ubiquiti Networks, Inc. * | 706 | 37,016 |
Universal Display Corp. * | 7,782 | 402,329 |
USA Technologies, Inc. * | 756 | 3,402 |
ViaSat, Inc. * | 772 | 54,550 |
Viavi Solutions, Inc. * | 119,613 | 851,645 |
Vishay Intertechnology, Inc. | 1,742 | 24,562 |
Vishay Precision Group, Inc. * | 109 | 1,711 |
11,445,202 | ||
Telecommunication Services 0.2% | ||
ATN International, Inc. | 58 | 3,923 |
Boingo Wireless, Inc. * | 1,577 | 15,328 |
Cincinnati Bell, Inc. * | 467 | 9,177 |
Cogent Communications Holdings, Inc. | 1,048 | 38,671 |
Consolidated Communications Holdings, Inc. | 1,023 | 24,480 |
FairPoint Communications, Inc. * | 567 | 8,845 |
General Communication, Inc., Class A * | 1,228 | 19,452 |
Globalstar, Inc. * | 2,732 | 2,529 |
Hawaiian Telcom Holdco, Inc. * | 69 | 1,416 |
IDT Corp., Class B | 554 | 9,911 |
Inteliquent, Inc. | 988 | 16,589 |
Intelsat S.A. * | 128 | 347 |
Iridium Communications, Inc. * | 1,564 | 12,747 |
Lumos Networks Corp. * | 463 | 6,579 |
NII Holdings, Inc. * | 906 | 2,220 |
ORBCOMM, Inc. * | 1,435 | 12,815 |
pdvWireless, Inc. * | 34 | 802 |
Shenandoah Telecommunications Co. | 790 | 20,856 |
Spok Holdings, Inc. | 257 | 4,639 |
Straight Path Communications, Inc., Class B * | 44 | 1,068 |
Vonage Holdings Corp. * | 2,040 | 13,994 |
Windstream Holdings, Inc. | 2,131 | 16,728 |
243,116 | ||
Transportation 2.5% | ||
Air Transport Services Group, Inc. * | 1,374 | 18,178 |
Allegiant Travel Co. | 173 | 23,857 |
ArcBest Corp. | 463 | 9,214 |
Atlas Air Worldwide Holdings, Inc. * | 698 | 29,211 |
Avis Budget Group, Inc. * | 29,534 | 955,720 |
Celadon Group, Inc. | 1,047 | 6,805 |
Costamare, Inc. | 320 | 2,080 |
Covenant Transport Group, Inc., Class A * | 55 | 879 |
Echo Global Logistics, Inc. * | 988 | 20,946 |
Forward Air Corp. | 18,449 | 762,313 |
Security | Number of Shares | Value ($) |
Hawaiian Holdings, Inc. * | 1,010 | 45,475 |
Heartland Express, Inc. | 1,144 | 21,050 |
Hub Group, Inc., Class A * | 895 | 32,623 |
Knight Transportation, Inc. | 36,417 | 1,065,197 |
Marten Transport Ltd. | 113 | 2,316 |
Matson, Inc. | 654 | 26,121 |
P.A.M. Transportation Services, Inc. * | 48 | 946 |
Park-Ohio Holdings Corp. | 53 | 1,693 |
Radiant Logistics, Inc. * | 95 | 237 |
Roadrunner Transportation Systems, Inc. * | 878 | 6,673 |
Saia, Inc. * | 225 | 8,021 |
Scorpio Bulkers, Inc. * | 88 | 343 |
SkyWest, Inc. | 572 | 17,246 |
Swift Transportation Co. * | 1,970 | 44,089 |
Universal Logistics Holdings, Inc. | 73 | 909 |
USA Truck, Inc. * | 31 | 255 |
Virgin America, Inc. * | 402 | 21,849 |
Werner Enterprises, Inc. | 27,523 | 661,928 |
XPO Logistics, Inc. * | 1,505 | 49,560 |
YRC Worldwide, Inc. * | 1,561 | 13,862 |
3,849,596 | ||
Utilities 2.9% | ||
ALLETE, Inc. | 1,047 | 64,171 |
American States Water Co. | 563 | 22,509 |
American Water Works Co., Inc. | 2,912 | 215,605 |
Artesian Resources Corp., Class A | 252 | 7,111 |
Atlantic Power Corp. | 1,045 | 2,404 |
Atlantica Yield plc | 1,206 | 21,684 |
Avista Corp. | 1,298 | 53,737 |
Black Hills Corp. | 1,136 | 70,262 |
California Water Service Group | 896 | 27,776 |
Calpine Corp. * | 41,375 | 492,363 |
Chesapeake Utilities Corp. | 103 | 6,597 |
Connecticut Water Service, Inc. | 59 | 3,072 |
Consolidated Water Co., Ltd. | 113 | 1,266 |
Dynegy, Inc. * | 2,440 | 25,986 |
El Paso Electric Co. | 987 | 45,599 |
Genie Energy Ltd., Class B * | 129 | 672 |
IDACORP, Inc. | 1,078 | 84,504 |
MGE Energy, Inc. | 457 | 26,712 |
Middlesex Water Co. | 87 | 3,141 |
New Jersey Resources Corp. | 19,626 | 666,303 |
Northwest Natural Gas Co. | 685 | 40,278 |
NorthWestern Corp. | 895 | 51,507 |
NRG Yield, Inc., Class A | 732 | 10,782 |
NRG Yield, Inc., Class C | 1,413 | 21,760 |
ONE Gas, Inc. | 803 | 49,208 |
Ormat Technologies, Inc. | 927 | 44,709 |
Otter Tail Corp. | 589 | 21,175 |
Pattern Energy Group, Inc. | 1,175 | 26,261 |
PNM Resources, Inc. | 1,658 | 54,465 |
Portland General Electric Co. | 1,680 | 73,315 |
SJW Corp. | 65 | 3,297 |
South Jersey Industries, Inc. | 1,200 | 35,580 |
Southwest Gas Corp. | 1,016 | 73,619 |
Spark Energy, Inc., Class A | 459 | 11,108 |
Spire, Inc. | 14,684 | 922,155 |
Talen Energy Corp. * | 1,815 | 25,283 |
TerraForm Global, Inc., Class A * | 1,079 | 4,046 |
TerraForm Power, Inc., Class A * | 799 | 9,916 |
The Empire District Electric Co. | 1,215 | 41,589 |
The York Water Co. | 254 | 8,026 |
Unitil Corp. | 74 | 3,002 |
Security | Number of Shares | Value ($) |
Vivint Solar, Inc. * | 386 | 1,197 |
WGL Holdings, Inc. | 16,771 | 1,057,747 |
4,431,499 | ||
Total Common Stock | ||
(Cost $140,358,608) | 146,042,105 | |
Other Investment Companies 4.6% of net assets | ||
Equity Funds 2.0% | ||
iShares Russell 2000 ETF | 2,891 | 342,584 |
iShares Russell 2000 Growth ETF | 19,750 | 2,762,432 |
3,105,016 | ||
Money Market Fund 2.6% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.26% (c) | 3,927,977 | 3,927,977 |
Total Other Investment Companies | ||
(Cost $7,066,675) | 7,032,993 | |
Rights 0.0% of net assets | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Dyax Corp. CVR *(d)(e) | 1,269 | 1,409 |
Telecommunication Services 0.0% | ||
Leap Wireless CVR *(d)(e) | 861 | 2,583 |
Total Rights | ||
(Cost $3,578) | 3,992 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.0% of net assets | ||
U.S. Treasury Obligation 0.0% | ||
U.S. Treasury Bill | ||
0.36%, 12/15/16 (a)(b) | 30,000 | 29,994 |
Total Short-Term Investment | ||
(Cost $29,987) | 29,994 |
At 10/31/16, the tax basis cost of the fund's investments was $147,771,441 and the unrealized appreciation and depreciation were $18,363,881 and ($13,026,238), respectively, with a net appreciation of $5,337,643.
* | Non-income producing security. |
(a) | All or a portion of this security is held as collateral for open futures contracts. |
(b) | The rate shown is the purchase yield. |
(c) | The rate shown is the 7-day yield. |
(d) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
(e) | Illiquid security. At the period end, the value of these amounted to $3,992 or 0.0% of net assets. |
ADR — | American Depositary Receipt |
CVR — | Contingent Value Rights |
ETF — | Exchange-traded fund |
REIT — | Real Estate Investment Trust |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
Russell 2000 Index, mini, Long, expires 12/16/16 | 9 | 1,070,370 | (18,803) |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Common Stock1 | $123,962,111 | $— | $— | $123,962,111 | |
Banks | 19,912,925 | — | 1,873 | 19,914,798 | |
Consumer Durables & Apparel | 2,164,832 | — | 364 | 2,165,196 | |
Other Investment Companies1 | 7,032,993 | — | — | 7,032,993 | |
Rights 1 | — | — | 3,992 | 3,992 | |
Short-Term Investment1 | — | 29,994 | — | 29,994 | |
Total | $153,072,861 | $29,994 | $6,229 | $153,109,084 | |
Liabilities Valuation Input | |||||
Other Financial Instruments | |||||
Futures Contracts2 | ($18,803) | $— | $— | ($18,803) |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of Portfolio Holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments, at value (cost $147,458,848) | $153,109,084 | |
Cash | 27 | |
Deposit with broker for futures contracts | 234,000 | |
Receivables: | ||
Investments sold | 841,766 | |
Fund shares sold | 155,125 | |
Dividends | 42,300 | |
Variation margin on futures contracts | 3,060 | |
Prepaid expenses | + | 13,525 |
Total assets | 154,398,887 | |
Liabilities | ||
Payables: | ||
Investments bought | 1,241,811 | |
Investment adviser and administrator fees | 139,995 | |
Shareholder service fees | 6,209 | |
Fund shares redeemed | 19,464 | |
Accrued expenses | + | 64,392 |
Total liabilities | 1,471,871 | |
Net Assets | ||
Total assets | 154,398,887 | |
Total liabilities | – | 1,471,871 |
Net assets | $152,927,016 | |
Net Assets by Source | ||
Capital received from investors | 145,699,964 | |
Net investment income not yet distributed | 205,940 | |
Net realized capital gains | 1,389,679 | |
Net unrealized capital appreciation | 5,631,433 |
Net Asset Value (NAV) by Shares Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Investor Shares | $54,945,982 | 3,387,653 | $16.22 | ||
Select Shares | $97,981,034 | 5,921,190 | $16.55 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $10,337) | $2,186,277 | |
Expenses | ||
Investment adviser and administrator fees | 1,839,388 | |
Shareholder service fees: | ||
Investor Shares | 137,336 | |
Select Shares | 197,724 | |
Custodian fees | 52,924 | |
Portfolio accounting fees | 48,409 | |
Professional fees | 43,359 | |
Registration fees | 29,315 | |
Transfer agent fees | 25,723 | |
Shareholder reports | 18,736 | |
Independent trustees' fees | 8,882 | |
Proxy fees | 3,086 | |
Interest expense | 104 | |
Other expenses | + | 2,933 |
Total expenses | 2,407,919 | |
Expense reduction by CSIM and its affiliates | – | 432,153 |
Net expenses | – | 1,975,766 |
Net investment income | 210,511 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 698,092 | |
Net realized gains on futures contracts | + | 470,724 |
Net realized gains | 1,168,816 | |
Net change in unrealized appreciation (depreciation) on investments | (2,335,354) | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (84,784) |
Net change in unrealized appreciation (depreciation) | + | (2,420,138) |
Net realized and unrealized losses | (1,251,322) | |
Decrease in net assets resulting from operations | ($1,040,811) |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income (loss) | $210,511 | ($279,682) | ||
Net realized gains | 1,168,816 | 11,585,861 | ||
Net change in unrealized appreciation (depreciation) | + | (2,420,138) | (10,711,106) | |
Increase (decrease) in net assets from operations | (1,040,811) | 595,073 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | ||||
Investor Shares | — | (112,615) | ||
Select Shares | + | — | (400,670) | |
Total distributions from net investment income | — | (513,285) | ||
Distributions from net realized gains | ||||
Investor Shares | (3,793,537) | (1,348,302) | ||
Select Shares | + | (6,231,390) | (2,370,239) | |
Total distributions from net realized gains | (10,024,927) | (3,718,541) | ||
Total distributions | ($10,024,927) | ($4,231,826) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares Sold | ||||||||
Investor Shares | 40,792 | $680,024 | 83,739 | $1,529,010 | ||||
Select Shares | + | 315,043 | 5,053,827 | 1,188,034 | 21,470,184 | |||
Total shares sold | 355,835 | $5,733,851 | 1,271,773 | $22,999,194 | ||||
Shares Reinvested | ||||||||
Investor Shares | 212,542 | $3,368,785 | 76,269 | $1,302,677 | ||||
Select Shares | + | 378,685 | 6,115,760 | 156,402 | 2,715,136 | |||
Total shares reinvested | 591,227 | $9,484,545 | 232,671 | $4,017,813 | ||||
Shares Redeemed | ||||||||
Investor Shares | (440,313) | ($7,015,212) | (498,439) | ($9,134,342) | ||||
Select Shares | + | (782,174) | (13,027,787) | (1,995,617) | (38,009,762) | |||
Total shares redeemed | (1,222,487) | ($20,042,999) | (2,494,056) | ($47,144,104) | ||||
Net transactions in fund shares | (275,425) | ($4,824,603) | (989,612) | ($20,127,097) | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 9,584,268 | $168,817,357 | 10,573,880 | $192,581,207 | ||||
Total decrease | + | (275,425) | (15,890,341) | (989,612) | (23,763,850) | |||
End of period | 9,308,843 | $152,927,016 | 9,584,268 | $168,817,357 | ||||
Net investment income not yet distributed/Distributions in excess of net investment income | $205,940 | ($4,520) |
Investor Shares | 11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | |
Per-Share Data | ||||||
Net asset value at beginning of period | $22.71 | $22.95 | $23.68 | $19.03 | $17.45 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.17 1 | 0.18 1 | 0.25 | 0.23 | 0.21 | |
Net realized and unrealized gains (losses) | (0.24) | (0.10) | (0.66) | 4.85 | 1.52 | |
Total from investment operations | (0.07) | 0.08 | (0.41) | 5.08 | 1.73 | |
Less distributions: | ||||||
Distributions from net investment income | (0.27) | (0.32) | (0.32) | (0.43) | (0.15) | |
Distributions from net realized gains | (1.20) | — | — | — | — | |
Total distributions | (1.47) | (0.32) | (0.32) | (0.43) | (0.15) | |
Net asset value at end of period | $21.17 | $22.71 | $22.95 | $23.68 | $19.03 | |
Total return | (0.14%) | 0.39% | (1.73%) | 27.23% | 10.05% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 1.40% | 1.40% | 1.40% | 1.40% | 1.53% 2 | |
Gross operating expenses | 1.61% | 1.59% | 1.59% | 1.60% | 1.62% | |
Net investment income (loss) | 0.81% | 0.76% | 1.06% | 1.10% | 1.19% | |
Portfolio turnover rate | 69% | 72% | 74% | 65% | 68% | |
Net assets, end of period (x 1,000,000) | $447 | $536 | $631 | $675 | $592 | |
Select Shares | 11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | |
Per-Share Data | ||||||
Net asset value at beginning of period | $22.71 | $22.95 | $23.68 | $19.03 | $17.46 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.19 1 | 0.21 1 | 0.28 | 0.28 | 0.25 | |
Net realized and unrealized gains (losses) | (0.23) | (0.10) | (0.65) | 4.83 | 1.50 | |
Total from investment operations | (0.04) | 0.11 | (0.37) | 5.11 | 1.75 | |
Less distributions: | ||||||
Distributions from net investment income | (0.31) | (0.35) | (0.36) | (0.46) | (0.18) | |
Distributions from net realized gains | (1.20) | — | — | — | — | |
Total distributions | (1.51) | (0.35) | (0.36) | (0.46) | (0.18) | |
Net asset value at end of period | $21.16 | $22.71 | $22.95 | $23.68 | $19.03 | |
Total return | 0.00% 3 | 0.56% | (1.57%) | 27.43% | 10.20% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 1.25% | 1.25% | 1.25% | 1.25% | 1.37% 2 | |
Gross operating expenses | 1.54% | 1.50% | 1.47% | 1.44% | 1.47% | |
Net investment income (loss) | 0.93% | 0.91% | 1.20% | 1.26% | 1.40% | |
Portfolio turnover rate | 69% | 72% | 74% | 65% | 68% | |
Net assets, end of period (x 1,000,000) | $1,063 | $1,395 | $1,592 | $1,590 | $1,062 |
Holdings by Category | Cost ($) | Value ($) | |
95.4% | Common Stock | 1,334,528,352 | 1,440,835,913 |
0.8% | Preferred Stock | 9,064,344 | 11,611,898 |
3.5% | Other Investment Company | 52,671,243 | 52,671,243 |
0.0% | Rights | 4,608 | 5,488 |
0.0% | Short-Term Investments | 49,980 | 49,989 |
99.7% | Total Investments | 1,396,318,527 | 1,505,174,531 |
0.3% | Other Assets and Liabilities, Net | 5,154,028 | |
100.0% | Net Assets | 1,510,328,559 |
Security | Number of Shares | Value ($) |
Common Stock 95.4% of net assets | ||
Argentina 0.1% | ||
Software & Services 0.1% | ||
MercadoLibre, Inc. | 8,898 | 1,494,953 |
Australia 5.3% | ||
Banks 0.1% | ||
Australia & New Zealand Banking Group Ltd. | 14,573 | 307,715 |
Bank of Queensland Ltd. | 1,963 | 15,577 |
Bendigo & Adelaide Bank Ltd. | 2,360 | 19,930 |
Commonwealth Bank of Australia | 8,561 | 476,598 |
National Australia Bank Ltd. | 13,214 | 280,499 |
Westpac Banking Corp. | 16,655 | 385,146 |
1,485,465 | ||
Capital Goods 0.0% | ||
CIMIC Group Ltd. | 474 | 10,637 |
Commercial & Professional Supplies 0.2% | ||
Brambles Ltd. | 7,790 | 68,204 |
SEEK Ltd. | 1,682 | 18,681 |
Spotless Group Holdings Ltd. | 3,160,548 | 2,397,585 |
2,484,470 | ||
Consumer Services 1.0% | ||
Aristocrat Leisure Ltd. | 313,696 | 3,652,314 |
Crown Resorts Ltd. | 1,727 | 14,277 |
Domino's Pizza Enterprises Ltd. | 75,714 | 3,688,477 |
Flight Centre Travel Group Ltd. | 276 | 7,091 |
InvoCare Ltd. (g) | 766,658 | 7,606,929 |
Tabcorp Holdings Ltd. | 4,110 | 15,100 |
Tatts Group Ltd. | 7,517 | 23,172 |
15,007,360 | ||
Diversified Financials 0.7% | ||
AMP Ltd. | 1,336,321 | 4,633,979 |
ASX Ltd. | 944 | 33,768 |
Challenger Ltd. | 2,914 | 23,789 |
Macquarie Group Ltd. | 85,761 | 5,184,199 |
Platinum Asset Management Ltd. | 1,169 | 4,427 |
9,880,162 |
Security | Number of Shares | Value ($) |
Energy 0.0% | ||
Caltex Australia Ltd. | 1,305 | 30,377 |
Origin Energy Ltd. | 8,502 | 34,268 |
Santos Ltd. | 8,334 | 22,300 |
Woodside Petroleum Ltd. | 3,782 | 80,957 |
167,902 | ||
Food & Staples Retailing 0.0% | ||
Wesfarmers Ltd. | 5,631 | 175,343 |
Woolworths Ltd. | 6,406 | 114,964 |
290,307 | ||
Food, Beverage & Tobacco 0.3% | ||
Coca-Cola Amatil Ltd. | 2,792 | 20,227 |
Costa Group Holdings Ltd. | 2,043,853 | 4,420,883 |
Treasury Wine Estates Ltd. | 3,693 | 30,107 |
4,471,217 | ||
Health Care Equipment & Services 0.0% | ||
Cochlear Ltd. | 289 | 28,079 |
Healthscope Ltd. | 8,467 | 14,203 |
Ramsay Health Care Ltd. | 715 | 39,815 |
Sonic Healthcare Ltd. | 1,949 | 30,312 |
112,409 | ||
Insurance 0.0% | ||
Insurance Australia Group Ltd. | 12,017 | 50,241 |
Medibank Pvt Ltd. | 13,744 | 26,926 |
QBE Insurance Group Ltd. | 6,914 | 52,384 |
Suncorp Group Ltd. | 6,478 | 58,795 |
188,346 | ||
Materials 2.0% | ||
Alumina Ltd. | 12,671 | 15,229 |
Amcor Ltd. | 5,752 | 64,202 |
BHP Billiton Ltd. | 16,045 | 280,319 |
BlueScope Steel Ltd. | 665,740 | 3,949,588 |
Boral Ltd. | 3,516 | 16,799 |
Fortescue Metals Group Ltd. | 7,891 | 33,115 |
Incitec Pivot Ltd. | 8,219 | 18,382 |
James Hardie Industries plc CDI | 2,193 | 32,640 |
Newcrest Mining Ltd. | 3,788 | 66,326 |
Northern Star Resources Ltd. | 594,030 | 1,921,352 |
Orica Ltd. | 503,634 | 6,222,084 |
Pact Group Holdings Ltd. | 1,751,109 | 8,729,170 |
Regis Resources Ltd. | 652,100 | 1,644,562 |
Rio Tinto Ltd. | 149,023 | 6,165,747 |
South32 Ltd. | 26,121 | 50,976 |
29,210,491 | ||
Media 0.0% | ||
REA Group Ltd. | 247 | 9,579 |
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
CSL Ltd. | 2,288 | 174,587 |
Real Estate 0.9% | ||
Charter Hall Retail REIT | 1,991,683 | 6,271,902 |
Dexus Property Group | 4,734 | 32,159 |
Goodman Group | 8,755 | 45,128 |
LendLease Group | 2,689 | 27,546 |
Mirvac Group | 18,047 | 28,629 |
Scentre Group | 26,245 | 83,998 |
Security | Number of Shares | Value ($) |
Shopping Centres Australasia Property Group | 4,064,737 | 6,752,305 |
Stockland | 11,843 | 39,774 |
The GPT Group | 8,667 | 30,641 |
Vicinity Centres | 229,117 | 499,649 |
Westfield Corp. | 9,786 | 66,132 |
13,877,863 | ||
Retailing 0.1% | ||
Bapcor Ltd. | 236,870 | 923,546 |
Harvey Norman Holdings Ltd. | 2,689 | 10,298 |
JB Hi-Fi Ltd. | 32,253 | 695,275 |
1,629,119 | ||
Software & Services 0.0% | ||
Computershare Ltd. | 2,198 | 17,607 |
Telecommunication Services 0.0% | ||
Telstra Corp., Ltd. | 21,195 | 80,158 |
TPG Telecom Ltd. | 1,746 | 10,012 |
Vocus Communications Ltd. | 79,969 | 346,710 |
436,880 | ||
Transportation 0.0% | ||
Aurizon Holdings Ltd. | 10,347 | 38,335 |
Qantas Airways Ltd. | 2,388 | 5,549 |
Sydney Airport | 5,278 | 25,091 |
Transurban Group | 10,047 | 79,276 |
148,251 | ||
Utilities 0.0% | ||
AGL Energy Ltd. | 3,336 | 48,597 |
APA Group | 5,384 | 32,539 |
AusNet Services | 8,703 | 9,913 |
DUET Group | 12,357 | 22,372 |
113,421 | ||
79,716,073 | ||
Austria 0.2% | ||
Banks 0.0% | ||
Erste Group Bank AG * | 1,510 | 47,352 |
Raiffeisen Bank International AG * | 670 | 10,973 |
58,325 | ||
Capital Goods 0.0% | ||
ANDRITZ AG | 371 | 19,398 |
Energy 0.0% | ||
OMV AG | 712 | 22,221 |
Materials 0.2% | ||
Lenzing AG | 27,840 | 3,626,106 |
voestalpine AG | 554 | 19,626 |
3,645,732 | ||
3,745,676 | ||
Belgium 0.3% | ||
Banks 0.1% | ||
KBC Group N.V. * | 15,251 | 929,717 |
Diversified Financials 0.0% | ||
Groupe Bruxelles Lambert S.A. | 390 | 33,527 |
Food & Staples Retailing 0.1% | ||
Colruyt S.A. | 14,260 | 766,446 |
Food, Beverage & Tobacco 0.0% | ||
Anheuser-Busch InBev S.A./N.V. | 3,985 | 457,358 |
Insurance 0.0% | ||
Ageas | 1,004 | 36,679 |
Security | Number of Shares | Value ($) |
Materials 0.0% | ||
Solvay S.A. | 369 | 42,329 |
Umicore S.A. | 486 | 29,540 |
71,869 | ||
Media 0.0% | ||
Telenet Group Holding N.V. * | 260 | 13,921 |
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
Galapagos N.V. * | 32,530 | 1,979,278 |
UCB S.A. | 616 | 41,686 |
2,020,964 | ||
Telecommunication Services 0.0% | ||
Proximus | 735 | 21,037 |
4,351,518 | ||
Brazil 1.2% | ||
Consumer Services 0.1% | ||
CVC Brasil Operadora e Agencia de Viagens S.A. | 239,400 | 1,837,500 |
Diversified Financials 0.1% | ||
BM&F Bovespa S.A. - Bolsa de Valores Mercadorias e Futuros | 249,600 | 1,470,075 |
Insurance 0.2% | ||
BB Seguridade Participacoes S.A. | 237,300 | 2,389,355 |
Media 0.3% | ||
Smiles S.A. | 234,100 | 4,272,765 |
Real Estate 0.2% | ||
BR Malls Participacoes S.A. * | 116,800 | 467,639 |
Iguatemi Empresa de Shopping Centers S.A. | 324,100 | 3,061,283 |
3,528,922 | ||
Transportation 0.3% | ||
EcoRodovias Infraestrutura e Logistica S.A. * | 1,284,100 | 3,809,658 |
Utilities 0.0% | ||
Engie Brasil Energia S.A. | 40,900 | 519,579 |
17,827,854 | ||
Canada 5.7% | ||
Banks 0.3% | ||
The Toronto-Dominion Bank | 118,103 | 5,358,793 |
Capital Goods 1.7% | ||
Aecon Group, Inc. | 318,730 | 4,120,464 |
CAE, Inc. | 895,069 | 12,572,206 |
New Flyer Industries, Inc. | 97,970 | 2,739,040 |
WSP Global, Inc. | 203,289 | 6,585,333 |
26,017,043 | ||
Commercial & Professional Supplies 0.3% | ||
Ritchie Bros. Auctioneers, Inc. | 125,339 | 4,334,021 |
Diversified Financials 0.2% | ||
Brookfield Asset Management, Inc., Class A | 86,922 | 3,044,009 |
Energy 1.1% | ||
Canadian Energy Services & Technology Corp. | 902,950 | 3,561,176 |
Canadian Natural Resources Ltd. | 82,976 | 2,633,481 |
Enbridge, Inc. | 68,979 | 2,978,650 |
Parex Resources, Inc. * | 393,220 | 4,523,511 |
Raging River Exploration, Inc. * | 345,950 | 2,772,655 |
16,469,473 |
Security | Number of Shares | Value ($) |
Food & Staples Retailing 0.2% | ||
Alimentation Couche-Tard, Inc., Class B | 25,073 | 1,259,538 |
Metro, Inc. | 49,649 | 1,534,666 |
2,794,204 | ||
Food, Beverage & Tobacco 0.2% | ||
Premium Brands Holdings Corp. | 64,140 | 3,103,950 |
Insurance 0.1% | ||
Intact Financial Corp. | 15,047 | 1,022,878 |
Real Estate 0.4% | ||
FirstService Corp. | 70,900 | 2,872,896 |
Northview Apartment Real Estate Investment Trust | 245,068 | 3,641,396 |
6,514,292 | ||
Retailing 0.1% | ||
Dollarama, Inc. | 26,157 | 1,954,608 |
Software & Services 0.6% | ||
CGI Group, Inc., Class A * | 33,851 | 1,607,878 |
Constellation Software, Inc. | 1,586 | 742,983 |
Shopify, Inc., Class A * | 55,390 | 2,295,916 |
The Descartes Systems Group, Inc. * | 182,300 | 3,798,766 |
8,445,543 | ||
Transportation 0.2% | ||
Canadian National Railway Co. | 41,900 | 2,634,018 |
Utilities 0.3% | ||
Innergex Renewable Energy, Inc. | 121,441 | 1,349,948 |
TransAlta Renewables, Inc. | 256,170 | 2,828,508 |
4,178,456 | ||
85,871,288 | ||
China 3.4% | ||
Automobiles & Components 0.7% | ||
Minth Group Ltd. | 612,000 | 2,166,681 |
Nexteer Automotive Group Ltd. | 6,510,297 | 8,585,731 |
10,752,412 | ||
Banks 0.3% | ||
Industrial & Commercial Bank of China Ltd., Class H | 7,688,000 | 4,614,640 |
Commercial & Professional Supplies 0.0% | ||
China Everbright International Ltd. | 373,000 | 445,896 |
Health Care Equipment & Services 0.1% | ||
Microport Scientific Corp. * | 2,555,000 | 1,890,050 |
Insurance 0.3% | ||
PICC Property & Casualty Co., Ltd., Class H | 748,000 | 1,207,348 |
Ping An Insurance Group Co. of China Ltd., Class H | 661,500 | 3,481,816 |
4,689,164 | ||
Real Estate 0.2% | ||
China Overseas Land & Investment Ltd. | 726,000 | 2,228,739 |
Semiconductors & Semiconductor Equipment 0.0% | ||
Xinyi Solar Holdings Ltd. * | 1,130,000 | 418,616 |
Software & Services 1.3% | ||
Baidu, Inc. ADR * | 34,765 | 6,148,538 |
Bitauto Holdings Ltd. ADR * | 107,110 | 2,734,518 |
Kingdee International Software Group Co., Ltd. * | 6,226,000 | 2,520,474 |
NetEase, Inc. ADR | 12,085 | 3,105,724 |
Tencent Holdings Ltd. | 162,700 | 4,311,928 |
18,821,182 | ||
Technology Hardware & Equipment 0.2% | ||
Tongda Group Holdings Ltd. | 13,630,000 | 3,596,624 |
Security | Number of Shares | Value ($) |
Telecommunication Services 0.1% | ||
China Mobile Ltd. | 85,000 | 973,793 |
Utilities 0.2% | ||
CT Environmental Group Ltd. | 6,752,000 | 1,894,269 |
ENN Energy Holdings Ltd. | 176,000 | 827,432 |
2,721,701 | ||
51,152,817 | ||
Denmark 1.3% | ||
Banks 0.0% | ||
Danske Bank A/S | 3,480 | 107,355 |
Capital Goods 0.4% | ||
Rockwool International A/S, B Shares | 16,060 | 2,686,167 |
Vestas Wind Systems A/S | 33,786 | 2,706,794 |
5,392,961 | ||
Commercial & Professional Supplies 0.1% | ||
ISS A/S | 35,570 | 1,396,325 |
Consumer Durables & Apparel 0.1% | ||
Pandora A/S | 15,955 | 2,075,035 |
Food, Beverage & Tobacco 0.0% | ||
Carlsberg A/S, Class B | 529 | 47,660 |
Health Care Equipment & Services 0.0% | ||
Coloplast A/S, Class B | 595 | 41,449 |
William Demant Holding A/S * | 575 | 10,699 |
52,148 | ||
Insurance 0.0% | ||
Tryg A/S | 544 | 10,609 |
Materials 0.6% | ||
Chr. Hansen Holding A/S | 138,185 | 8,275,605 |
Novozymes A/S, B Shares | 1,138 | 42,216 |
8,317,821 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Genmab A/S * | 285 | 46,932 |
Novo Nordisk A/S, Class B | 9,546 | 340,081 |
387,013 | ||
Telecommunication Services 0.0% | ||
TDC A/S * | 4,128 | 22,760 |
Transportation 0.1% | ||
AP Moeller - Maersk A/S, Series A | 19 | 27,772 |
AP Moeller - Maersk A/S, Series B | 31 | 47,550 |
DSV A/S | 44,209 | 2,140,592 |
2,215,914 | ||
20,025,601 | ||
Finland 1.0% | ||
Automobiles & Components 0.0% | ||
Nokian Renkaat Oyj | 575 | 19,286 |
Capital Goods 0.6% | ||
Cramo Oyj | 82,480 | 2,161,695 |
Kone Oyj, Class B | 77,732 | 3,576,580 |
Konecranes Oyj | 114,070 | 3,885,492 |
Metso Oyj | 567 | 14,867 |
Wartsila Oyj Abp | 715 | 30,898 |
9,669,532 | ||
Energy 0.0% | ||
Neste Oyj | 619 | 26,705 |
Insurance 0.0% | ||
Sampo Oyj, A Shares | 2,203 | 100,928 |
Security | Number of Shares | Value ($) |
Materials 0.4% | ||
Huhtamaki Oyj | 20,022 | 808,047 |
Outokumpu Oyj * | 627,760 | 4,376,469 |
Stora Enso Oyj, R Shares | 2,686 | 25,383 |
UPM-Kymmene Oyj | 2,640 | 61,411 |
5,271,310 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Orion Oyj, Class B | 512 | 21,793 |
Technology Hardware & Equipment 0.0% | ||
Nokia Oyj | 28,992 | 129,436 |
Telecommunication Services 0.0% | ||
Elisa Oyj | 694 | 23,382 |
Utilities 0.0% | ||
Fortum Oyj | 2,146 | 35,771 |
15,298,143 | ||
France 9.8% | ||
Automobiles & Components 0.6% | ||
Compagnie Generale des Etablissements Michelin | 913 | 98,885 |
Peugeot S.A. * | 2,381 | 35,656 |
Plastic Omnium S.A. | 25,589 | 834,449 |
Renault S.A. | 947 | 82,353 |
Valeo S.A. | 140,270 | 8,094,259 |
9,145,602 | ||
Banks 1.3% | ||
BNP Paribas S.A. | 338,441 | 19,623,911 |
Credit Agricole S.A. | 5,484 | 59,167 |
Natixis S.A. | 4,534 | 22,940 |
Societe Generale S.A. | 3,815 | 148,813 |
19,854,831 | ||
Capital Goods 1.7% | ||
Airbus Group SE | 2,909 | 172,736 |
Alstom S.A. * | 787 | 21,148 |
Bouygues S.A. | 1,044 | 34,032 |
Compagnie de Saint-Gobain | 2,464 | 109,409 |
Eiffage S.A. | 278 | 20,581 |
Legrand S.A. | 1,316 | 74,350 |
LISI (g) | 139,159 | 4,119,223 |
Nexans S.A. * | 88,770 | 5,045,891 |
Rexel S.A. | 1,533 | 21,261 |
Safran S.A. | 62,868 | 4,326,033 |
Schneider Electric SE | 67,015 | 4,506,764 |
Thales S.A. | 23,562 | 2,216,829 |
Vinci S.A. | 68,832 | 4,984,779 |
Zodiac Aerospace | 975 | 23,695 |
25,676,731 | ||
Commercial & Professional Supplies 0.9% | ||
Bureau Veritas S.A. | 306,881 | 5,796,100 |
Edenred | 1,065 | 24,648 |
Societe BIC S.A. | 139 | 19,267 |
Teleperformance | 68,920 | 7,281,921 |
13,121,936 | ||
Consumer Durables & Apparel 0.9% | ||
Christian Dior SE | 266 | 51,302 |
Hermes International | 3,022 | 1,224,229 |
Kering | 26,671 | 5,917,473 |
LVMH Moet Hennessy Louis Vuitton SE | 32,943 | 5,997,640 |
SEB S.A. | 4,891 | 719,835 |
13,910,479 |
Security | Number of Shares | Value ($) |
Consumer Services 0.1% | ||
Accor S.A. | 872 | 33,089 |
Sodexo S.A. | 15,315 | 1,778,391 |
1,811,480 | ||
Diversified Financials 0.0% | ||
Eurazeo S.A. | 206 | 11,862 |
Wendel S.A. | 140 | 16,107 |
27,969 | ||
Energy 0.3% | ||
Technip S.A. | 531 | 35,242 |
TOTAL S.A. | 95,787 | 4,588,667 |
4,623,909 | ||
Food & Staples Retailing 0.0% | ||
Carrefour S.A. | 2,820 | 73,909 |
Casino Guichard Perrachon S.A. | 280 | 13,939 |
87,848 | ||
Food, Beverage & Tobacco 0.5% | ||
Danone S.A. | 56,229 | 3,899,950 |
Pernod-Ricard S.A. | 29,763 | 3,539,514 |
Remy Cointreau S.A. | 112 | 9,081 |
7,448,545 | ||
Health Care Equipment & Services 0.5% | ||
BioMerieux | 3,714 | 541,096 |
Essilor International S.A. | 1,022 | 114,846 |
Korian S.A. | 196,086 | 6,005,945 |
Orpea | 6,594 | 548,805 |
7,210,692 | ||
Household & Personal Products 0.0% | ||
L'Oreal S.A. | 1,257 | 225,203 |
Insurance 0.3% | ||
AXA S.A. | 197,721 | 4,461,044 |
CNP Assurances | 829 | 14,357 |
SCOR SE | 829 | 26,846 |
4,502,247 | ||
Materials 0.1% | ||
Air Liquide S.A. | 1,937 | 196,824 |
Arkema S.A. | 12,626 | 1,197,227 |
Imerys S.A. | 170 | 11,836 |
1,405,887 | ||
Media 0.1% | ||
Eutelsat Communications S.A. | 822 | 17,225 |
JC Decaux S.A. | 359 | 10,979 |
Lagardere S.C.A. | 592 | 15,076 |
Publicis Groupe S.A. | 959 | 65,787 |
SES S.A. | 1,829 | 42,078 |
Technicolor S.A. - Reg'd | 63,657 | 371,879 |
Vivendi S.A. | 5,829 | 117,982 |
641,006 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.7% | ||
Boiron S.A. (g) | 45,313 | 3,829,794 |
Eurofins Scientific SE | 11,773 | 5,350,194 |
Ipsen S.A. | 8,131 | 562,105 |
Sanofi | 9,297 | 723,481 |
10,465,574 | ||
Real Estate 0.1% | ||
Fonciere Des Regions | 175 | 15,294 |
Gecina S.A. | 202 | 29,452 |
ICADE | 191 | 13,716 |
Klepierre | 1,087 | 44,424 |
Nexity S.A. * | 27,348 | 1,373,102 |
1,475,988 |
Security | Number of Shares | Value ($) |
Semiconductors & Semiconductor Equipment 0.0% | ||
STMicroelectronics N.V. | 3,108 | 29,498 |
Software & Services 0.5% | ||
Atos SE | 19,242 | 1,996,811 |
Capgemini S.A. | 28,567 | 2,365,829 |
Dassault Systemes S.A. | 640 | 50,657 |
Worldline S.A. * | 116,510 | 3,200,276 |
7,613,573 | ||
Technology Hardware & Equipment 0.2% | ||
Ingenico Group S.A. | 35,169 | 2,781,792 |
Telecommunication Services 0.0% | ||
Iliad S.A. | 127 | 26,624 |
Orange S.A. | 9,942 | 156,424 |
SFR Group S.A. | 529 | 14,257 |
197,305 | ||
Transportation 0.0% | ||
Aeroports de Paris | 143 | 14,444 |
Bollore S.A. | 4,193 | 13,805 |
Groupe Eurotunnel SE - Reg'd | 2,280 | 21,339 |
49,588 | ||
Utilities 1.0% | ||
Electricite de France S.A. | 1,168 | 13,093 |
Engie S.A. | 7,325 | 105,639 |
Rubis S.C.A. | 167,274 | 15,253,909 |
Suez | 1,597 | 25,296 |
Veolia Environnement S.A. | 2,193 | 47,911 |
15,445,848 | ||
147,753,531 | ||
Germany 6.0% | ||
Automobiles & Components 1.4% | ||
Bayerische Motoren Werke AG | 1,657 | 144,566 |
Continental AG | 32,332 | 6,210,685 |
Daimler AG - Reg'd | 179,509 | 12,806,526 |
Grammer AG | 34,860 | 1,995,619 |
Volkswagen AG | 171 | 25,562 |
21,182,958 | ||
Banks 0.0% | ||
Commerzbank AG | 5,191 | 35,352 |
Capital Goods 2.0% | ||
Brenntag AG | 764 | 40,844 |
Duerr AG | 97,693 | 7,284,985 |
GEA Group AG | 911 | 35,285 |
HOCHTIEF AG | 101 | 13,791 |
KION Group AG | 9,839 | 594,475 |
MAN SE | 170 | 17,401 |
MTU Aero Engines AG | 95,433 | 9,965,494 |
Norma Group SE | 72,062 | 3,315,785 |
OSRAM Licht AG | 455 | 25,843 |
Rational AG | 6,775 | 3,520,268 |
Siemens AG - Reg'd | 3,818 | 433,791 |
Stabilus S.A. *(g) | 103,026 | 5,374,075 |
30,622,037 | ||
Consumer Durables & Apparel 0.0% | ||
adidas AG | 942 | 154,765 |
Hugo Boss AG | 326 | 20,499 |
175,264 |
Security | Number of Shares | Value ($) |
Diversified Financials 0.2% | ||
Aurelius Equity Opportunities SE & Co. KGaA | 36,170 | 2,159,614 |
Deutsche Bank AG - Reg'd * | 6,794 | 98,252 |
Deutsche Boerse AG * | 957 | 74,731 |
2,332,597 | ||
Food & Staples Retailing 0.0% | ||
METRO AG | 861 | 25,790 |
Health Care Equipment & Services 0.0% | ||
Fresenius Medical Care AG & Co. KGaA | 1,099 | 89,518 |
Fresenius SE & Co. KGaA | 2,049 | 151,395 |
240,913 | ||
Household & Personal Products 0.0% | ||
Beiersdorf AG | 498 | 43,903 |
Henkel AG & Co. KGaA | 514 | 56,634 |
100,537 | ||
Insurance 0.9% | ||
Allianz SE - Reg'd | 81,342 | 12,697,830 |
Hannover Rueck SE | 291 | 32,464 |
Muenchener Rueckversicherungs-Gesellschaft AG - Reg'd | 821 | 159,405 |
12,889,699 | ||
Materials 0.1% | ||
BASF SE | 4,586 | 404,843 |
Covestro AG | 345 | 20,430 |
Evonik Industries AG | 30,577 | 957,564 |
HeidelbergCement AG | 709 | 67,070 |
K&S AG - Reg'd | 933 | 18,893 |
LANXESS AG | 456 | 29,241 |
Linde AG | 930 | 153,605 |
Symrise AG | 614 | 42,167 |
ThyssenKrupp AG | 1,820 | 42,229 |
1,736,042 | ||
Media 0.2% | ||
Axel Springer SE | 220 | 11,022 |
CTS Eventim AG & Co. KGaA | 78,960 | 2,833,893 |
ProSiebenSat.1 Media SE | 1,067 | 45,986 |
RTL Group S.A. * | 5,717 | 448,047 |
3,338,948 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.3% | ||
Bayer AG - Reg'd | 4,128 | 409,868 |
Gerresheimer AG | 6,512 | 491,200 |
Merck KGaA | 650 | 66,904 |
QIAGEN N.V. * | 121,717 | 2,976,891 |
3,944,863 | ||
Real Estate 0.0% | ||
Deutsche Wohnen AG | 1,668 | 54,496 |
Vonovia SE | 2,309 | 81,404 |
135,900 | ||
Retailing 0.4% | ||
Fielmann AG | 87,476 | 6,071,123 |
Zalando SE * | 417 | 18,338 |
6,089,461 | ||
Semiconductors & Semiconductor Equipment 0.0% | ||
Infineon Technologies AG | 5,597 | 100,664 |
Software & Services 0.5% | ||
Bechtle AG | 4,582 | 481,893 |
CANCOM SE | 30,950 | 1,408,647 |
SAP SE | 54,630 | 4,812,872 |
Security | Number of Shares | Value ($) |
United Internet AG - Reg'd | 594 | 24,422 |
Wirecard AG | 13,834 | 656,683 |
7,384,517 | ||
Telecommunication Services 0.0% | ||
Deutsche Telekom AG - Reg'd | 16,113 | 262,887 |
Telefonica Deutschland Holding AG | 3,571 | 13,849 |
276,736 | ||
Transportation 0.0% | ||
Deutsche Lufthansa AG - Reg'd | 1,118 | 14,309 |
Deutsche Post AG - Reg'd | 4,856 | 150,589 |
Fraport AG Frankfurt Airport Services Worldwide | 196 | 11,635 |
176,533 | ||
Utilities 0.0% | ||
E.ON SE | 9,862 | 72,277 |
Innogy SE * | 620 | 24,621 |
RWE AG * | 2,365 | 37,625 |
134,523 | ||
90,923,334 | ||
Hong Kong 1.8% | ||
Banks 0.0% | ||
BOC Hong Kong (Holdings) Ltd. | 18,000 | 64,157 |
Hang Seng Bank Ltd. | 3,800 | 68,530 |
The Bank of East Asia Ltd. | 5,800 | 23,315 |
156,002 | ||
Capital Goods 0.0% | ||
CK Hutchison Holdings Ltd. | 13,538 | 167,168 |
NWS Holdings Ltd. | 7,192 | 12,725 |
179,893 | ||
Consumer Durables & Apparel 0.0% | ||
Li & Fung Ltd. | 28,000 | 13,764 |
Techtronic Industries Co., Ltd. | 7,000 | 26,300 |
Yue Yuen Industrial Holdings Ltd. | 4,000 | 15,233 |
55,297 | ||
Consumer Services 0.5% | ||
Galaxy Entertainment Group Ltd. | 12,000 | 49,136 |
Melco Crown Entertainment Ltd. ADR | 333,710 | 5,586,305 |
Melco International Development Ltd. | 1,381,000 | 1,800,877 |
MGM China Holdings Ltd. | 5,200 | 8,579 |
Sands China Ltd. | 12,000 | 52,077 |
Shangri-La Asia Ltd. | 6,000 | 6,590 |
SJM Holdings Ltd. | 8,683 | 5,993 |
Wynn Macau Ltd. | 8,000 | 12,256 |
7,521,813 | ||
Diversified Financials 0.0% | ||
First Pacific Co., Ltd. | 10,000 | 7,575 |
Hong Kong Exchanges & Clearing Ltd. | 5,800 | 153,332 |
160,907 | ||
Food, Beverage & Tobacco 0.0% | ||
WH Group Ltd. | 28,500 | 23,082 |
Insurance 0.4% | ||
AIA Group Ltd. | 967,400 | 6,085,915 |
Real Estate 0.1% | ||
Cheung Kong Property Holdings Ltd. | 13,538 | 100,082 |
Hang Lung Properties Ltd. | 11,000 | 24,190 |
Henderson Land Development Co., Ltd. | 5,635 | 33,332 |
Hongkong Land Holdings Ltd. | 6,000 | 40,178 |
Hysan Development Co., Ltd. | 3,000 | 13,846 |
Kerry Properties Ltd. | 3,000 | 9,499 |
Link REIT | 11,500 | 81,810 |
Security | Number of Shares | Value ($) |
New World Development Co., Ltd. | 28,000 | 34,811 |
Sino Land Co., Ltd. | 16,000 | 27,167 |
Sun Hung Kai Properties Ltd. | 7,702 | 114,692 |
Swire Pacific Ltd., Class A | 3,000 | 31,182 |
Swire Properties Ltd. | 5,600 | 16,081 |
The Wharf Holdings Ltd. | 7,349 | 55,101 |
Wheelock & Co., Ltd. | 4,000 | 24,616 |
606,587 | ||
Retailing 0.0% | ||
Sa Sa International Holdings Ltd. | 1,278,000 | 584,328 |
Semiconductors & Semiconductor Equipment 0.1% | ||
ASM Pacific Technology Ltd. | 189,000 | 1,820,936 |
Technology Hardware & Equipment 0.4% | ||
China High Precision Automation Group Ltd. *(f)(g) | 766,000 | — |
Sunny Optical Technology Group Co., Ltd. | 1,118,000 | 5,452,312 |
5,452,312 | ||
Telecommunication Services 0.3% | ||
HKBN Ltd. | 3,101,983 | 3,657,784 |
HKT Trust & HKT Ltd. | 13,120 | 18,034 |
PCCW Ltd. | 21,000 | 12,500 |
3,688,318 | ||
Transportation 0.0% | ||
Cathay Pacific Airways Ltd. | 6,000 | 7,897 |
MTR Corp., Ltd. | 7,500 | 41,506 |
49,403 | ||
Utilities 0.0% | ||
Cheung Kong Infrastructure Holdings Ltd. | 3,574 | 29,249 |
CLP Holdings Ltd. | 8,000 | 81,320 |
HK Electric Investments & HK Electric Investments Ltd. | 13,000 | 12,875 |
Hong Kong & China Gas Co., Ltd. | 38,107 | 74,440 |
Power Assets Holdings Ltd. | 7,000 | 65,700 |
263,584 | ||
26,648,377 | ||
India 1.3% | ||
Automobiles & Components 0.1% | ||
Maruti Suzuki India Ltd. | 14,188 | 1,254,232 |
Motherson Sumi Systems Ltd. | 103,645 | 515,831 |
1,770,063 | ||
Banks 0.6% | ||
HDFC Bank Ltd. | 87,811 | 1,647,576 |
Indiabulls Housing Finance Ltd. | 317,990 | 4,038,503 |
IndusInd Bank Ltd. | 100,636 | 1,804,225 |
Yes Bank Ltd. | 76,596 | 1,454,168 |
8,944,472 | ||
Capital Goods 0.2% | ||
Amara Raja Batteries Ltd. | 126,070 | 1,938,659 |
Eicher Motors Ltd. | 1,675 | 602,703 |
Voltas Ltd. | 88,554 | 512,603 |
3,053,965 | ||
Diversified Financials 0.1% | ||
Multi Commodity Exchange of India Ltd. | 96,180 | 1,868,779 |
Energy 0.1% | ||
Bharat Petroleum Corp., Ltd. | 79,822 | 801,418 |
Food, Beverage & Tobacco 0.0% | ||
Britannia Industries Ltd. | 10,525 | 522,717 |
Materials 0.1% | ||
UPL Ltd. | 58,540 | 611,185 |
Security | Number of Shares | Value ($) |
Software & Services 0.1% | ||
Vakrangee Ltd. | 497,290 | 1,883,917 |
Telecommunication Services 0.0% | ||
Bharti Infratel Ltd. | 86,236 | 449,168 |
19,905,684 | ||
Indonesia 0.9% | ||
Banks 0.7% | ||
Bank Tabungan Negara Persero Tbk PT | 12,280,400 | 1,796,247 |
PT Bank Central Asia Tbk | 2,428,900 | 2,887,829 |
PT Bank Mandiri (Persero) Tbk | 6,929,100 | 6,103,489 |
10,787,565 | ||
Capital Goods 0.2% | ||
Pembangunan Perumahan Persero Tbk PT | 2,869,300 | 904,924 |
Waskita Karya Persero Tbk PT | 9,243,100 | 1,855,269 |
2,760,193 | ||
13,547,758 | ||
Ireland 1.0% | ||
Banks 0.0% | ||
Bank of Ireland * | 132,914 | 28,451 |
Capital Goods 0.1% | ||
DCC plc | 431 | 35,066 |
Kingspan Group plc | 27,977 | 684,872 |
719,938 | ||
Consumer Services 0.0% | ||
Paddy Power Betfair plc | 394 | 40,828 |
Food, Beverage & Tobacco 0.4% | ||
Glanbia plc (e) | 112,897 | 1,839,161 |
Glanbia plc (e) | 287,078 | 4,675,641 |
Kerry Group plc, Class A | 784 | 56,923 |
6,571,725 | ||
Materials 0.2% | ||
CRH plc | 103,458 | 3,358,668 |
Pharmaceuticals, Biotechnology & Life Sciences 0.3% | ||
ICON plc * | 15,719 | 1,261,921 |
Shire plc | 58,489 | 3,302,447 |
4,564,368 | ||
15,283,978 | ||
Israel 0.2% | ||
Banks 0.0% | ||
Bank Hapoalim B.M. | 5,177 | 29,859 |
Bank Leumi Le-Israel B.M. * | 6,827 | 25,759 |
Mizrahi Tefahot Bank Ltd. | 689 | 8,973 |
64,591 | ||
Materials 0.0% | ||
Israel Chemicals Ltd. | 2,525 | 8,973 |
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Taro Pharmaceutical Industries Ltd. * | 74 | 7,512 |
Teva Pharmaceutical Industries Ltd. ADR | 4,494 | 192,073 |
199,585 | ||
Real Estate 0.0% | ||
Azrieli Group Ltd. | 224 | 9,536 |
Software & Services 0.2% | ||
Check Point Software Technologies Ltd. * | 31,989 | 2,704,990 |
Mobileye N.V. * | 856 | 31,826 |
Nice Ltd. | 280 | 18,586 |
2,755,402 |
Security | Number of Shares | Value ($) |
Telecommunication Services 0.0% | ||
Bezeq The Israeli Telecommunication Corp., Ltd. | 10,573 | 19,205 |
3,057,292 | ||
Italy 3.2% | ||
Automobiles & Components 0.1% | ||
Brembo S.p.A. | 8,284 | 512,891 |
Ferrari N.V. | 639 | 33,643 |
Fiat Chrysler Automobiles N.V. | 4,386 | 32,154 |
578,688 | ||
Banks 1.1% | ||
FinecoBank Banca Fineco S.p.A. | 463,130 | 2,706,511 |
Intesa Sanpaolo S.p.A. | 6,009,942 | 13,935,074 |
Mediobanca S.p.A. | 2,724 | 19,954 |
UniCredit S.p.A. | 26,229 | 65,090 |
Unione di Banche Italiane S.p.A. | 4,397 | 12,132 |
16,738,761 | ||
Capital Goods 0.1% | ||
Interpump Group S.p.A. | 46,185 | 740,726 |
Leonardo-Finmeccanica S.p.A. * | 1,955 | 23,805 |
Prysmian S.p.A. | 971 | 24,147 |
788,678 | ||
Consumer Durables & Apparel 0.4% | ||
Luxottica Group S.p.A. | 825 | 41,079 |
Prada S.p.A. | 1,683,800 | 5,898,876 |
5,939,955 | ||
Diversified Financials 0.6% | ||
Azimut Holding S.p.A. | 21,219 | 340,597 |
Banca Generali S.p.A. | 42,741 | 950,415 |
EXOR S.p.A. | 191,671 | 8,148,841 |
9,439,853 | ||
Energy 0.0% | ||
Eni S.p.A. | 12,722 | 184,625 |
Saipem S.p.A. * | 30,731 | 12,637 |
Tenaris S.A. | 2,282 | 32,276 |
229,538 | ||
Food, Beverage & Tobacco 0.3% | ||
Davide Campari-Milano S.p.A. | 490,570 | 4,940,794 |
Health Care Equipment & Services 0.3% | ||
Amplifon S.p.A. | 421,170 | 4,450,192 |
Insurance 0.0% | ||
Assicurazioni Generali S.p.A. | 5,785 | 74,727 |
Poste Italiane S.p.A | 2,540 | 16,908 |
UnipolSai S.p.A. | 5,504 | 10,518 |
102,153 | ||
Materials 0.3% | ||
Buzzi Unicem S.p.A. | 197,120 | 3,833,530 |
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Recordati S.p.A. | 18,727 | 529,578 |
Telecommunication Services 0.0% | ||
Telecom Italia S.p.A. * | 49,919 | 43,394 |
Transportation 0.0% | ||
Atlantia S.p.A. | 2,013 | 49,286 |
Utilities 0.0% | ||
Enel S.p.A. | 38,152 | 164,028 |
Snam S.p.A. | 12,018 | 63,321 |
Terna - Rete Elettrica Nationale S.p.A. | 7,459 | 36,511 |
263,860 | ||
47,928,260 | ||
Security | Number of Shares | Value ($) |
Japan 15.7% | ||
Automobiles & Components 3.2% | ||
Aisin Seiki Co., Ltd. | 1,000 | 43,928 |
Bridgestone Corp. | 3,300 | 123,168 |
Denso Corp. | 2,400 | 104,436 |
F.C.C. Co., Ltd. | 141,200 | 3,115,087 |
Fuji Heavy Industries Ltd. | 106,100 | 4,146,015 |
Honda Motor Co., Ltd. | 403,707 | 12,079,561 |
Isuzu Motors Ltd. | 2,900 | 35,870 |
Koito Manufacturing Co., Ltd. | 585 | 30,714 |
Mazda Motor Corp. | 2,900 | 48,093 |
Mitsubishi Motors Corp. | 3,500 | 19,430 |
Musashi Seimitsu Industry Co., Ltd. | 154,700 | 3,789,064 |
NGK Spark Plug Co., Ltd. | 900 | 17,861 |
NHK Spring Co., Ltd. | 1,000 | 9,465 |
Nifco, Inc. | 263,100 | 15,152,393 |
Nissan Motor Co., Ltd. | 12,400 | 126,139 |
NOK Corp. | 500 | 11,268 |
Stanley Electric Co., Ltd. | 800 | 22,028 |
Sumitomo Electric Industries Ltd. | 3,700 | 54,662 |
Sumitomo Rubber Industries Ltd. | 800 | 13,421 |
Suzuki Motor Corp. | 1,800 | 64,181 |
The Yokohama Rubber Co., Ltd. | 500 | 8,681 |
Toyoda Gosei Co., Ltd. | 400 | 9,166 |
Toyota Industries Corp. | 814 | 37,349 |
Toyota Motor Corp. | 154,377 | 8,954,902 |
Yamaha Motor Co., Ltd. | 1,400 | 31,101 |
48,047,983 | ||
Banks 0.2% | ||
Aozora Bank Ltd. | 6,000 | 19,824 |
Concordia Financial Group Ltd. | 5,900 | 27,356 |
Fukuoka Financial Group, Inc. | 4,000 | 17,310 |
Japan Post Bank Co., Ltd. | 2,000 | 23,570 |
Kyushu Financial Group, Inc. | 2,100 | 13,964 |
Mebuki Financial Group, Inc. | 4,810 | 17,117 |
Mitsubishi UFJ Financial Group, Inc. | 375,300 | 1,936,476 |
Mizuho Financial Group, Inc. | 118,100 | 198,851 |
Resona Holdings, Inc. | 10,700 | 47,427 |
Seven Bank Ltd. | 2,900 | 8,915 |
Shinsei Bank Ltd. | 9,000 | 14,551 |
Sumitomo Mitsui Financial Group, Inc. | 6,700 | 232,300 |
Sumitomo Mitsui Trust Holdings, Inc. | 1,700 | 57,363 |
Suruga Bank Ltd. | 900 | 21,972 |
The Bank of Kyoto Ltd. | 2,000 | 14,667 |
The Chiba Bank Ltd. | 4,000 | 24,739 |
The Chugoku Bank Ltd. | 900 | 12,076 |
The Hachijuni Bank Ltd. | 2,311 | 12,599 |
The Hiroshima Bank Ltd. | 3,086 | 13,207 |
The Iyo Bank Ltd. | 1,400 | 8,604 |
The Shizuoka Bank Ltd. | 2,454 | 20,711 |
Yamaguchi Financial Group, Inc. | 1,274 | 14,045 |
2,757,644 | ||
Capital Goods 2.9% | ||
Amada Holdings Co., Ltd. | 1,626 | 18,522 |
Asahi Glass Co., Ltd. | 5,000 | 34,969 |
Daifuku Co., Ltd. | 32,715 | 591,121 |
Daikin Industries Ltd. | 53,700 | 5,146,054 |
FANUC Corp. | 24,299 | 4,448,841 |
Fuji Electric Co., Ltd. | 117,000 | 584,249 |
Harmonic Drive Systems, Inc. | 96,500 | 2,717,701 |
Hino Motors Ltd. | 1,300 | 14,170 |
Hirata Corp. | 36,300 | 2,757,616 |
Hitachi Construction Machinery Co., Ltd. | 500 | 10,459 |
Hoshizaki Corp. | 300 | 27,075 |
IHI Corp. * | 7,000 | 18,415 |
ITOCHU Corp. | 7,529 | 95,081 |
Security | Number of Shares | Value ($) |
JGC Corp. | 1,000 | 17,678 |
JTEKT Corp. | 1,000 | 14,799 |
Kajima Corp. | 5,000 | 33,718 |
Kawasaki Heavy Industries Ltd. | 7,000 | 20,446 |
Keihan Holdings Co., Ltd. | 2,126 | 14,354 |
Komatsu Ltd. | 143,800 | 3,200,859 |
Kubota Corp. | 5,200 | 83,815 |
Kurita Water Industries Ltd. | 500 | 11,833 |
Kyudenko Corp. | 108,800 | 3,505,180 |
LIXIL Group Corp. | 1,300 | 29,859 |
Mabuchi Motor Co., Ltd. | 300 | 17,439 |
Makita Corp. | 17,000 | 1,175,385 |
Marubeni Corp. | 8,045 | 42,275 |
Minebea Co., Ltd. | 1,587 | 16,195 |
MISUMI Group, Inc. | 535,500 | 9,766,403 |
Mitsubishi Corp. | 7,549 | 164,304 |
Mitsubishi Electric Corp. | 10,000 | 135,292 |
Mitsubishi Heavy Industries Ltd. | 16,000 | 68,446 |
Mitsui & Co., Ltd. | 8,400 | 116,382 |
Nabtesco Corp. | 600 | 17,920 |
NGK Insulators Ltd. | 1,300 | 23,861 |
Nidec Corp. | 1,200 | 116,112 |
NSK Ltd. | 2,300 | 25,568 |
Obayashi Corp. | 3,200 | 30,826 |
Penta-Ocean Construction Co., Ltd. | 824,400 | 4,912,711 |
Seibu Holdings, Inc. | 800 | 13,842 |
Shimizu Corp. | 3,000 | 26,663 |
SMC Corp. | 237 | 68,700 |
Sumitomo Corp. | 5,800 | 66,680 |
Sumitomo Heavy Industries Ltd. | 3,000 | 15,794 |
Tadano Ltd. | 233,600 | 2,623,280 |
Taisei Corp. | 185,000 | 1,386,584 |
THK Co., Ltd. | 600 | 12,668 |
Toshiba Corp. * | 20,000 | 72,416 |
TOTO Ltd. | 700 | 27,966 |
Toyota Tsusho Corp. | 1,100 | 25,969 |
44,366,495 | ||
Commercial & Professional Supplies 0.5% | ||
Benefit One, Inc. | 91,600 | 2,649,383 |
Dai Nippon Printing Co., Ltd. | 3,000 | 30,091 |
Park24 Co., Ltd. | 28,300 | 874,434 |
Recruit Holdings Co., Ltd. | 1,800 | 72,305 |
Secom Co., Ltd. | 1,100 | 79,353 |
Sohgo Security Services Co., Ltd. | 400 | 18,217 |
Temp Holdings Co., Ltd. | 34,600 | 586,806 |
Toppan Printing Co., Ltd. | 2,261 | 21,263 |
Yumeshin Holdings Co., Ltd. | 481,800 | 3,410,237 |
7,742,089 | ||
Consumer Durables & Apparel 0.1% | ||
Asics Corp. | 800 | 17,071 |
Bandai Namco Holdings, Inc. | 1,000 | 29,956 |
Casio Computer Co., Ltd. | 1,036 | 14,430 |
Fujitsu General Ltd. | 23,000 | 527,774 |
Haseko Corp. | 41,700 | 405,816 |
Iida Group Holdings Co., Ltd. | 713 | 13,782 |
Nikon Corp. | 1,700 | 25,692 |
Panasonic Corp. | 11,000 | 113,474 |
Rinnai Corp. | 200 | 19,213 |
Sankyo Co., Ltd. | 200 | 7,046 |
Sega Sammy Holdings, Inc. | 1,000 | 14,766 |
Sekisui Chemical Co., Ltd. | 2,082 | 32,789 |
Sekisui House Ltd. | 2,955 | 48,828 |
Sharp Corp. * | 7,000 | 12,146 |
Shimano, Inc. | 345 | 58,988 |
Security | Number of Shares | Value ($) |
Sony Corp. | 6,300 | 198,565 |
Yamaha Corp. | 800 | 28,584 |
1,568,920 | ||
Consumer Services 0.3% | ||
Benesse Holdings, Inc. | 300 | 7,861 |
McDonald's Holdings Co., Ltd. | 300 | 8,632 |
Oriental Land Co., Ltd. | 1,100 | 64,254 |
Resorttrust, Inc. | 231,800 | 4,633,276 |
4,714,023 | ||
Diversified Financials 2.4% | ||
Acom Co., Ltd. * | 2,000 | 9,203 |
AEON Financial Service Co., Ltd. | 500 | 8,802 |
Credit Saison Co., Ltd. | 711 | 12,291 |
Daiwa Securities Group, Inc. | 1,574,000 | 9,397,078 |
Japan Exchange Group, Inc. | 2,700 | 40,089 |
Mitsubishi UFJ Lease & Finance Co., Ltd. | 2,200 | 10,651 |
Nihon M&A Center, Inc. | 289,900 | 9,408,347 |
Nomura Holdings, Inc. | 1,553,600 | 7,781,880 |
ORIX Corp. | 311,600 | 4,937,735 |
SBI Holdings, Inc. | 1,136 | 13,495 |
Zenkoku Hosho Co., Ltd. | 105,900 | 4,553,152 |
36,172,723 | ||
Energy 0.0% | ||
Idemitsu Kosan Co., Ltd. | 400 | 9,192 |
Inpex Corp. | 4,800 | 44,778 |
JX Holdings, Inc. | 10,900 | 43,068 |
Showa Shell Sekiyu K.K. | 900 | 8,385 |
TonenGeneral Sekiyu K.K. | 1,367 | 13,460 |
118,883 | ||
Food & Staples Retailing 0.1% | ||
Aeon Co., Ltd. | 3,200 | 44,223 |
Ain Holdings, Inc. | 6,900 | 465,719 |
FamilyMart UNY Holdings Co., Ltd. | 400 | 25,088 |
Lawson, Inc. | 329 | 24,999 |
Seven & i Holdings Co., Ltd. | 3,800 | 158,610 |
Sundrug Co., Ltd. | 200 | 15,733 |
Tsuruha Holdings, Inc. | 10,000 | 1,153,829 |
1,888,201 | ||
Food, Beverage & Tobacco 0.4% | ||
Ajinomoto Co., Inc. | 2,778 | 61,776 |
Ariake Japan Co., Ltd. | 74,700 | 4,173,255 |
Asahi Group Holdings Ltd. | 1,900 | 67,775 |
Calbee, Inc. | 400 | 14,513 |
Japan Tobacco, Inc. | 5,500 | 209,111 |
Kewpie Corp. | 64,300 | 1,826,165 |
Kikkoman Corp. | 314 | 9,989 |
Kirin Holdings Co., Ltd. | 4,100 | 70,486 |
MEIJI Holdings Co., Ltd. | 600 | 59,844 |
NH Foods Ltd. | 409 | 9,801 |
Nisshin Seifun Group, Inc. | 1,100 | 16,203 |
Nissin Foods Holdings Co., Ltd. | 300 | 17,364 |
Suntory Beverage & Food Ltd. | 700 | 30,607 |
Toyo Suisan Kaisha Ltd. | 465 | 18,839 |
Yakult Honsha Co., Ltd. | 400 | 18,649 |
Yamazaki Baking Co., Ltd. | 1,000 | 22,422 |
6,626,799 | ||
Health Care Equipment & Services 1.0% | ||
Alfresa Holdings Corp. | 1,000 | 21,134 |
Asahi Intecc Co., Ltd. | 68,000 | 2,944,979 |
CYBERDYNE, Inc. * | 500 | 7,503 |
Hogy Medical Co., Ltd. | 81,800 | 5,388,079 |
Hoya Corp. | 2,000 | 83,448 |
M3, Inc. | 36,100 | 1,098,561 |
Medipal Holdings Corp. | 800 | 13,669 |
Security | Number of Shares | Value ($) |
Miraca Holdings, Inc. | 76,800 | 3,707,611 |
Olympus Corp. | 27,900 | 994,509 |
Suzuken Co., Ltd. | 400 | 12,848 |
Sysmex Corp. | 800 | 55,442 |
Terumo Corp. | 1,700 | 65,742 |
14,393,525 | ||
Household & Personal Products 0.7% | ||
Kao Corp. | 59,600 | 3,066,808 |
Kose Corp. | 200 | 18,246 |
Lion Corp. | 207,000 | 3,385,483 |
Pigeon Corp. | 125,400 | 3,527,950 |
Pola Orbis Holdings, Inc. | 9,900 | 823,772 |
Shiseido Co., Ltd. | 1,900 | 49,009 |
Unicharm Corp. | 2,000 | 47,558 |
10,918,826 | ||
Insurance 0.1% | ||
Anicom Holdings, Inc. | 67,700 | 1,516,705 |
Dai-ichi Life Holdings, Inc. | 5,300 | 77,703 |
Japan Post Holdings Co., Ltd. | 2,200 | 28,004 |
MS&AD Insurance Group Holdings, Inc. | 2,510 | 74,514 |
Sompo Holdings, Inc. | 1,800 | 58,242 |
Sony Financial Holdings, Inc. | 900 | 12,640 |
T&D Holdings, Inc. | 2,800 | 33,860 |
Tokio Marine Holdings, Inc. | 3,400 | 134,108 |
1,935,776 | ||
Materials 0.2% | ||
Air Water, Inc. | 778 | 14,556 |
Asahi Kasei Corp. | 157,463 | 1,419,533 |
Daicel Corp. | 1,400 | 18,409 |
Hitachi Chemical Co., Ltd. | 500 | 11,688 |
Hitachi Metals Ltd. | 1,000 | 12,499 |
JFE Holdings, Inc. | 2,600 | 37,265 |
JSR Corp. | 900 | 13,677 |
Kaneka Corp. | 1,337 | 11,062 |
Kansai Paint Co., Ltd. | 1,073 | 23,059 |
Kobe Steel Ltd. * | 1,400 | 11,553 |
Kuraray Co., Ltd. | 1,700 | 25,773 |
Maruichi Steel Tube Ltd. | 300 | 9,672 |
Mitsubishi Chemical Holdings Corp. | 6,600 | 43,335 |
Mitsubishi Gas Chemical Co., Inc. | 1,000 | 15,391 |
Mitsubishi Materials Corp. | 604 | 17,305 |
Mitsui Chemicals, Inc. | 5,000 | 24,623 |
Nippon Paint Holdings Co., Ltd. | 800 | 27,202 |
Nippon Steel & Sumitomo Metal Corp. | 4,000 | 79,252 |
Nissan Chemical Industries Ltd. | 25,800 | 874,740 |
Nitto Denko Corp. | 800 | 55,735 |
Oji Holdings Corp. | 4,000 | 16,913 |
Shin-Etsu Chemical Co., Ltd. | 1,924 | 145,880 |
Sumitomo Chemical Co., Ltd. | 8,000 | 37,835 |
Sumitomo Metal Mining Co., Ltd. | 2,000 | 25,990 |
Taiheiyo Cement Corp. | 6,000 | 17,183 |
Taiyo Nippon Sanso Corp. | 629 | 6,612 |
Teijin Ltd. | 1,000 | 19,321 |
Toray Industries, Inc. | 7,000 | 65,149 |
Toyo Seikan Group Holdings Ltd. | 800 | 14,756 |
3,095,968 | ||
Media 0.0% | ||
Dentsu, Inc. | 1,100 | 54,834 |
Hakuhodo DY Holdings, Inc. | 1,100 | 13,221 |
Toho Co., Ltd. | 600 | 18,001 |
Vector, Inc. | 45,400 | 537,683 |
623,739 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.3% | ||
Astellas Pharma, Inc. | 10,400 | 154,355 |
Chugai Pharmaceutical Co., Ltd. | 1,100 | 37,486 |
Security | Number of Shares | Value ($) |
Daiichi Sankyo Co., Ltd. | 3,000 | 72,087 |
Eisai Co., Ltd. | 1,300 | 82,846 |
Hisamitsu Pharmaceutical Co., Inc. | 300 | 16,002 |
Kyowa Hakko Kirin Co., Ltd. | 1,200 | 18,310 |
Mitsubishi Tanabe Pharma Corp. | 1,100 | 21,411 |
Ono Pharmaceutical Co., Ltd. | 2,100 | 53,243 |
Otsuka Holdings Co., Ltd. | 2,000 | 87,532 |
Santen Pharmaceutical Co., Ltd. | 1,800 | 26,248 |
Sawai Pharmaceutical Co., Ltd. | 7,600 | 491,128 |
Shionogi & Co., Ltd. | 56,000 | 2,757,887 |
Sumitomo Dainippon Pharma Co., Ltd. | 800 | 13,856 |
Taisho Pharmaceutical Holdings Co., Ltd. | 200 | 19,510 |
Takeda Pharmaceutical Co., Ltd. | 3,600 | 161,010 |
4,012,911 | ||
Real Estate 0.2% | ||
Aeon Mall Co., Ltd. | 500 | 7,425 |
Daito Trust Construction Co., Ltd. | 6,100 | 1,022,230 |
Daiwa House Industry Co., Ltd. | 2,800 | 76,850 |
Daiwa House REIT Investment Corp. | 7 | 18,978 |
Hulic Co., Ltd. | 1,500 | 14,283 |
Japan Prime Realty Investment Corp. | 4 | 17,274 |
Japan Real Estate Investment Corp. | 7 | 40,536 |
Japan Retail Fund Investment Corp. | 13 | 29,575 |
Mitsubishi Estate Co., Ltd. | 6,587 | 130,916 |
Mitsui Fudosan Co., Ltd. | 4,000 | 91,096 |
Nippon Building Fund, Inc. | 7 | 41,596 |
Nippon Prologis REIT, Inc. | 250 | 565,790 |
Nomura Real Estate Holdings, Inc. | 700 | 11,821 |
Nomura Real Estate Master Fund, Inc. | 20 | 32,464 |
NTT Urban Development Corp. | 700 | 6,435 |
Sumitomo Realty & Development Co., Ltd. | 1,495 | 39,297 |
Tokyo Tatemono Co., Ltd. | 1,000 | 12,703 |
Tokyu Fudosan Holdings Corp. | 2,500 | 14,091 |
United Urban Investment Corp. | 15 | 25,365 |
2,198,725 | ||
Retailing 0.4% | ||
ABC-Mart, Inc. | 200 | 12,169 |
Don Quijote Holdings Co., Ltd. | 600 | 22,806 |
Fast Retailing Co., Ltd. | 230 | 77,486 |
Hikari Tsushin, Inc. | 100 | 9,180 |
Isetan Mitsukoshi Holdings Ltd. | 1,721 | 17,393 |
J. Front Retailing Co., Ltd. | 1,100 | 15,143 |
Marui Group Co., Ltd. | 1,100 | 15,431 |
Nitori Holdings Co., Ltd. | 14,805 | 1,768,484 |
Rakuten, Inc. | 4,600 | 53,032 |
Ryohin Keikaku Co., Ltd. | 18,300 | 3,908,928 |
Shimamura Co., Ltd. | 142 | 18,178 |
Start Today Co., Ltd. | 900 | 15,771 |
Takashimaya Co., Ltd. | 2,000 | 16,312 |
USS Co., Ltd. | 1,100 | 18,604 |
Yamada Denki Co., Ltd. | 3,300 | 17,058 |
5,985,975 | ||
Semiconductors & Semiconductor Equipment 0.2% | ||
Rohm Co., Ltd. | 500 | 26,282 |
Tokyo Electron Ltd. | 800 | 72,164 |
Ulvac, Inc. | 87,300 | 2,756,408 |
2,854,854 | ||
Software & Services 0.8% | ||
Dip Corp. | 129,900 | 3,441,005 |
Fujitsu Ltd. | 9,000 | 53,380 |
GMO Payment Gateway, Inc. | 48,000 | 2,204,715 |
GungHo Online Entertainment, Inc. | 2,100 | 5,313 |
Istyle, Inc. | 303,100 | 2,387,756 |
Kakaku.com, Inc. | 700 | 11,760 |
Konami Holdings Corp. | 500 | 19,746 |
LINE Corp. ADR * | 12,723 | 514,773 |
Security | Number of Shares | Value ($) |
Mixi, Inc. | 201 | 7,384 |
Nexon Co., Ltd. | 900 | 15,321 |
Nintendo Co., Ltd. | 600 | 144,636 |
Nomura Research Institute Ltd. | 600 | 20,811 |
NTT Data Corp. | 600 | 30,963 |
Obic Co., Ltd. | 300 | 15,585 |
Oracle Corp., Japan | 8,100 | 440,825 |
Otsuka Corp. | 300 | 14,273 |
SCSK Corp. | 18,300 | 682,643 |
SMS Co., Ltd. | 71,700 | 1,866,618 |
TIS, Inc. | 22,200 | 502,352 |
Trend Micro, Inc. | 600 | 21,129 |
Yahoo Japan Corp. | 6,900 | 26,468 |
12,427,456 | ||
Technology Hardware & Equipment 1.2% | ||
Alps Electric Co., Ltd. | 42,000 | 1,007,482 |
Brother Industries Ltd. | 1,100 | 20,184 |
Canon, Inc. | 5,365 | 154,126 |
FUJIFILM Holdings Corp. | 2,200 | 83,184 |
Hamamatsu Photonics K.K. | 700 | 21,181 |
Hirose Electric Co., Ltd. | 200 | 26,391 |
Hitachi High-Technologies Corp. | 400 | 16,682 |
Hitachi Ltd. | 24,322 | 129,658 |
Keyence Corp. | 6,000 | 4,398,548 |
Konica Minolta, Inc. | 2,200 | 19,706 |
Kyocera Corp. | 1,600 | 77,742 |
Murata Manufacturing Co., Ltd. | 924 | 129,029 |
NEC Corp. | 13,000 | 34,762 |
Nippon Electric Glass Co., Ltd. | 2,000 | 10,880 |
Omron Corp. | 145,300 | 5,576,731 |
Osaki Electric Co., Ltd. | 368,000 | 3,531,932 |
Ricoh Co., Ltd. | 3,500 | 28,526 |
Seiko Epson Corp. | 1,400 | 28,375 |
Shimadzu Corp. | 1,000 | 14,551 |
TDK Corp. | 600 | 41,427 |
Topcon Corp. | 196,800 | 2,937,398 |
Yaskawa Electric Corp. | 1,321 | 21,075 |
Yokogawa Electric Corp. | 1,100 | 15,452 |
18,325,022 | ||
Telecommunication Services 0.1% | ||
KDDI Corp. | 9,200 | 279,617 |
Nippon Telegraph & Telephone Corp. | 3,500 | 155,179 |
NTT DOCOMO, Inc. | 7,000 | 175,798 |
SoftBank Group Corp. | 4,831 | 304,261 |
914,855 | ||
Transportation 0.1% | ||
ANA Holdings, Inc. | 5,409 | 15,193 |
Central Japan Railway Co. | 700 | 119,032 |
East Japan Railway Co. | 1,638 | 144,191 |
Hankyu Hanshin Holdings, Inc. | 1,200 | 39,730 |
Japan Airlines Co., Ltd. | 600 | 17,707 |
Japan Airport Terminal Co., Ltd. | 200 | 7,677 |
Kamigumi Co., Ltd. | 1,000 | 8,538 |
Keikyu Corp. | 2,000 | 20,178 |
Keio Corp. | 3,000 | 24,830 |
Keisei Electric Railway Co., Ltd. | 733 | 17,673 |
Kintetsu Group Holdings Co., Ltd. | 9,000 | 36,329 |
Kyushu Railway Co. * | 20,900 | 615,820 |
Mitsubishi Logistics Corp. | 1,000 | 13,536 |
Mitsui O.S.K. Lines Ltd. | 6,000 | 15,004 |
Nagoya Railroad Co., Ltd. | 5,000 | 26,384 |
Nippon Express Co., Ltd. | 4,000 | 19,758 |
Nippon Yusen K.K. | 8,000 | 16,372 |
Odakyu Electric Railway Co., Ltd. | 1,500 | 30,606 |
Tobu Railway Co., Ltd. | 5,000 | 24,548 |
Tokyu Corp. | 5,000 | 37,432 |
Security | Number of Shares | Value ($) |
West Japan Railway Co. | 841 | 51,786 |
Yamato Holdings Co., Ltd. | 1,800 | 41,009 |
1,343,333 | ||
Utilities 0.3% | ||
Chubu Electric Power Co., Inc. | 3,131 | 46,092 |
Electric Power Development Co., Ltd. | 700 | 16,301 |
eRex Co., Ltd. | 132,200 | 4,144,209 |
Hokuriku Electric Power Co. | 800 | 9,087 |
Kyushu Electric Power Co., Inc. | 2,100 | 19,082 |
Osaka Gas Co., Ltd. | 9,000 | 37,433 |
Shikoku Electric Power Co., Inc. | 900 | 8,463 |
The Chugoku Electric Power Co., Inc. | 1,500 | 17,552 |
The Kansai Electric Power Co., Inc. * | 3,400 | 32,505 |
Toho Gas Co., Ltd. | 2,330 | 21,607 |
Tohoku Electric Power Co., Inc. | 2,200 | 26,954 |
Tokyo Electric Power Co. Holdings, Inc. * | 7,000 | 27,122 |
Tokyo Gas Co., Ltd. | 10,000 | 45,375 |
4,451,782 | ||
237,486,507 | ||
Luxembourg 0.0% | ||
Telecommunication Services 0.0% | ||
Millicom International Cellular S.A. SDR | 334 | 14,675 |
Mexico 0.7% | ||
Banks 0.2% | ||
Banregio Grupo Financiero S.A.B de C.V. | 516,070 | 3,381,308 |
Consumer Services 0.0% | ||
Alsea S.A.B. de C.V. | 5,000 | 18,660 |
Food, Beverage & Tobacco 0.1% | ||
Arca Continental S.A.B. de C.V. | 166,904 | 1,038,636 |
Media 0.4% | ||
Grupo Televisa S.A.B. ADR | 269,800 | 6,618,194 |
11,056,798 | ||
Netherlands 1.4% | ||
Banks 0.0% | ||
ABN AMRO Group N.V. CVA | 1,142 | 26,357 |
ING Groep N.V. | 19,240 | 252,564 |
278,921 | ||
Capital Goods 0.5% | ||
AerCap Holdings N.V. * | 832 | 34,204 |
Boskalis Westminster N.V. | 43,193 | 1,393,042 |
Koninklijke Philips N.V. | 181,739 | 5,476,189 |
6,903,435 | ||
Commercial & Professional Supplies 0.0% | ||
Randstad Holding N.V. | 619 | 31,837 |
RELX N.V. | 4,929 | 83,115 |
Wolters Kluwer N.V. | 1,502 | 58,083 |
173,035 | ||
Energy 0.0% | ||
Koninklijke Vopak N.V. | 333 | 16,807 |
Food & Staples Retailing 0.2% | ||
Koninklijke Ahold Delhaize N.V. | 119,786 | 2,732,606 |
Food, Beverage & Tobacco 0.3% | ||
Heineken Holding N.V. | 502 | 38,625 |
Heineken N.V. | 1,156 | 95,218 |
Refresco Group N.V. (d) | 336,853 | 4,920,642 |
5,054,485 | ||
Household & Personal Products 0.0% | ||
Unilever N.V. CVA | 8,134 | 340,212 |
Security | Number of Shares | Value ($) |
Insurance 0.0% | ||
Aegon N.V. | 9,732 | 42,100 |
NN Group N.V. | 1,650 | 49,702 |
91,802 | ||
Materials 0.2% | ||
Akzo Nobel N.V. | 32,747 | 2,115,818 |
ArcelorMittal * | 9,029 | 61,008 |
Koninklijke DSM N.V. | 922 | 59,261 |
OCI N.V. * | 395 | 5,483 |
2,241,570 | ||
Media 0.0% | ||
Altice N.V., Class A * | 1,782 | 32,867 |
Altice N.V., Class B * | 586 | 10,910 |
43,777 | ||
Real Estate 0.0% | ||
Unibail-Rodamco SE | 496 | 117,733 |
Retailing 0.0% | ||
GrandVision N.V. | 12,446 | 285,027 |
Semiconductors & Semiconductor Equipment 0.2% | ||
ASML Holding N.V. | 19,369 | 2,049,122 |
NXP Semiconductors N.V. * | 13,836 | 1,383,600 |
3,432,722 | ||
Software & Services 0.0% | ||
Gemalto N.V. | 391 | 21,244 |
Telecommunication Services 0.0% | ||
Koninklijke KPN N.V. | 16,768 | 54,676 |
21,788,052 | ||
New Zealand 1.5% | ||
Consumer Services 0.2% | ||
SKYCITY Entertainment Group Ltd. | 1,115,551 | 3,109,966 |
Health Care Equipment & Services 0.0% | ||
Fisher & Paykel Healthcare Corp., Ltd. | 67,073 | 424,668 |
Ryman Healthcare Ltd. | 1,821 | 11,558 |
436,226 | ||
Materials 0.0% | ||
Fletcher Building Ltd. | 3,507 | 25,980 |
Telecommunication Services 0.1% | ||
Spark New Zealand Ltd. | 242,001 | 632,926 |
Transportation 0.7% | ||
Auckland International Airport Ltd. | 2,276,351 | 10,720,618 |
Utilities 0.5% | ||
Contact Energy Ltd. | 3,563 | 12,115 |
Mercury NZ Ltd. (g) | 3,710,179 | 8,099,442 |
Meridian Energy Ltd. | 6,222 | 11,436 |
8,122,993 | ||
23,048,709 | ||
Norway 0.6% | ||
Banks 0.0% | ||
DNB A.S.A. | 4,916 | 71,069 |
Energy 0.5% | ||
Aker BP A.S.A * | 362,400 | 5,798,991 |
Statoil A.S.A. | 5,526 | 90,218 |
TGS Nopec Geophysical Co. A.S.A. | 89,600 | 1,812,365 |
7,701,574 | ||
Food, Beverage & Tobacco 0.0% | ||
Marine Harvest A.S.A. * | 1,860 | 33,752 |
Orkla A.S.A. | 4,124 | 38,941 |
72,693 |
Security | Number of Shares | Value ($) |
Insurance 0.1% | ||
Gjensidige Forsikring A.S.A. | 83,282 | 1,492,169 |
Materials 0.0% | ||
Norsk Hydro A.S.A. | 6,498 | 29,051 |
Yara International A.S.A. | 864 | 30,520 |
59,571 | ||
Media 0.0% | ||
Schibsted A.S.A., B Shares | 462 | 10,409 |
Schibsted A.S.A., Class A | 393 | 9,419 |
19,828 | ||
Telecommunication Services 0.0% | ||
Telenor A.S.A. | 3,779 | 60,104 |
9,477,008 | ||
Papua New Guinea 0.0% | ||
Energy 0.0% | ||
Oil Search Ltd. | 6,621 | 33,189 |
Peru 0.1% | ||
Banks 0.1% | ||
Credicorp Ltd. | 9,350 | 1,390,158 |
Portugal 0.1% | ||
Banks 0.0% | ||
Banco Espirito Santo S.A. - Reg'd *(f)(g) | 42,176 | — |
Energy 0.0% | ||
Galp Energia, SGPS, S.A. | 2,309 | 31,306 |
Food & Staples Retailing 0.1% | ||
Jeronimo Martins, SGPS, S.A. | 75,349 | 1,294,731 |
Utilities 0.0% | ||
EDP - Energias de Portugal S.A. | 11,529 | 38,106 |
1,364,143 | ||
Republic of Korea 1.2% | ||
Food, Beverage & Tobacco 0.0% | ||
KT&G Corp. | 2,057 | 202,882 |
Health Care Equipment & Services 0.2% | ||
Vieworks Co., Ltd. | 70,040 | 3,761,262 |
Household & Personal Products 0.0% | ||
Tonymoly Co., Ltd. | 6,199 | 206,604 |
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
Caregen Co., Ltd. | 9,950 | 821,099 |
Semiconductors & Semiconductor Equipment 0.2% | ||
SK Hynix, Inc. | 79,490 | 2,843,089 |
Software & Services 0.1% | ||
NAVER Corp. | 2,473 | 1,850,213 |
Technology Hardware & Equipment 0.6% | ||
Samsung Electronics Co., Ltd. | 5,998 | 8,579,108 |
18,264,257 | ||
Singapore 2.2% | ||
Banks 0.0% | ||
DBS Group Holdings Ltd. | 8,816 | 95,025 |
Oversea-Chinese Banking Corp., Ltd. | 15,538 | 94,660 |
United Overseas Bank Ltd. | 6,541 | 88,242 |
277,927 | ||
Capital Goods 0.1% | ||
Jardine Matheson Holdings Ltd. | 1,209 | 73,640 |
Keppel Corp., Ltd. | 7,000 | 26,472 |
Noble Group Ltd. * | 34,000 | 4,043 |
Security | Number of Shares | Value ($) |
Sarine Technologies Ltd. (g) | 1,661,500 | 1,942,595 |
Sembcorp Industries Ltd. | 5,200 | 9,416 |
Sembcorp Marine Ltd. | 3,100 | 2,874 |
Singapore Technologies Engineering Ltd. | 7,400 | 16,636 |
Yangzijiang Shipbuilding Holdings Ltd. | 7,700 | 4,117 |
2,079,793 | ||
Consumer Services 0.0% | ||
Genting Singapore plc | 28,700 | 15,358 |
Diversified Financials 0.0% | ||
Singapore Exchange Ltd. | 3,900 | 19,871 |
Food, Beverage & Tobacco 0.0% | ||
Golden Agri-Resources Ltd. | 34,700 | 9,582 |
Wilmar International Ltd. | 9,300 | 22,079 |
31,661 | ||
Media 0.0% | ||
Singapore Press Holdings Ltd. | 8,200 | 21,914 |
Real Estate 1.0% | ||
Ascendas Real Estate Investment Trust | 4,484,433 | 7,642,135 |
CapitaLand Commercial Trust Ltd. | 10,000 | 11,316 |
CapitaLand Ltd. | 12,400 | 27,502 |
CapitaLand Mall Trust | 4,761,600 | 7,095,453 |
City Developments Ltd. | 1,927 | 11,733 |
Global Logistic Properties Ltd. | 13,100 | 16,669 |
Suntec Real Estate Investment Trust | 11,824 | 14,281 |
UOL Group Ltd. | 2,100 | 8,541 |
14,827,630 | ||
Retailing 0.0% | ||
Jardine Cycle & Carriage Ltd. | 511 | 15,474 |
Telecommunication Services 0.0% | ||
Singapore Telecommunications Ltd. | 40,000 | 112,055 |
StarHub Ltd. | 3,300 | 8,010 |
120,065 | ||
Transportation 1.1% | ||
ComfortDelGro Corp., Ltd. | 11,100 | 20,238 |
Hutchison Port Holdings Trust, Class U | 25,700 | 11,416 |
SATS Ltd. | 2,739,100 | 9,528,967 |
SIA Engineering Co., Ltd. (g) | 2,584,200 | 6,854,051 |
Singapore Airlines Ltd. | 2,631 | 19,145 |
16,433,817 | ||
33,843,510 | ||
South Africa 0.4% | ||
Capital Goods 0.0% | ||
The Bidvest Group Ltd. | 32,115 | 399,002 |
Diversified Financials 0.0% | ||
RMB Holdings Ltd. | 109,839 | 483,847 |
Food & Staples Retailing 0.1% | ||
Bid Corp., Ltd. | 32,115 | 563,956 |
The SPAR Group Ltd. | 51,300 | 726,675 |
1,290,631 | ||
Insurance 0.1% | ||
Sanlam Ltd. | 169,858 | 822,741 |
Media 0.2% | ||
Naspers Ltd., N Shares | 16,467 | 2,757,897 |
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Aspen Pharmacare Holdings Ltd. | 14,267 | 310,801 |
6,064,919 | ||
Security | Number of Shares | Value ($) |
Spain 1.3% | ||
Banks 0.2% | ||
Banco Bilbao Vizcaya Argentaria S.A. | 32,889 | 236,757 |
Banco De Sabadell S.A. | 25,420 | 33,941 |
Banco Popular Espanol S.A. | 16,129 | 17,647 |
Banco Santander S.A. | 72,090 | 353,243 |
Bankia S.A. | 22,259 | 19,556 |
Bankinter S.A. | 238,342 | 1,821,736 |
CaixaBank S.A. | 16,431 | 49,579 |
2,532,459 | ||
Capital Goods 0.0% | ||
ACS Actividades de Construccion y Servicios S.A. | 952 | 29,120 |
Ferrovial S.A. | 2,414 | 46,899 |
Zardoya Otis S.A. | 881 | 7,420 |
83,439 | ||
Commercial & Professional Supplies 0.4% | ||
Applus Services S.A. | 94,800 | 909,599 |
Prosegur Cia de Seguridad S.A. - Reg'd | 700,270 | 5,077,796 |
5,987,395 | ||
Energy 0.0% | ||
Repsol S.A. | 5,583 | 77,953 |
Food & Staples Retailing 0.0% | ||
Distribuidora Internacional de Alimentacion S.A. | 3,181 | 16,990 |
Insurance 0.0% | ||
Mapfre S.A. | 5,208 | 15,449 |
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Grifols S.A. | 1,442 | 28,454 |
Retailing 0.2% | ||
Industria de Diseno Textil S.A. | 82,630 | 2,883,160 |
Software & Services 0.3% | ||
Amadeus IT Group S.A. | 55,590 | 2,616,278 |
Indra Sistemas S.A. * | 179,720 | 2,222,533 |
4,838,811 | ||
Telecommunication Services 0.0% | ||
Telefonica S.A. | 22,383 | 227,425 |
Transportation 0.2% | ||
Abertis Infraestructuras S.A. | 3,160 | 46,839 |
Aena S.A. | 12,383 | 1,814,550 |
International Consolidated Airlines Group S.A. | 3,927 | 20,810 |
1,882,199 | ||
Utilities 0.0% | ||
Enagas S.A. | 1,143 | 32,764 |
Endesa S.A. | 1,535 | 32,581 |
Gas Natural SDG S.A. | 1,692 | 33,306 |
Iberdrola S.A. | 27,606 | 187,871 |
Red Electrica Corp. S.A. | 2,140 | 44,582 |
331,104 | ||
18,904,838 | ||
Sweden 4.5% | ||
Automobiles & Components 0.3% | ||
Dometic Group AB * | 590,730 | 4,179,346 |
Banks 0.4% | ||
Nordea Bank AB | 15,201 | 159,749 |
Skandinaviska Enskilda Banken AB, A Shares | 7,631 | 76,969 |
Security | Number of Shares | Value ($) |
Svenska Handelsbanken AB, A Shares | 7,545 | 102,862 |
Swedbank AB, A Shares | 228,818 | 5,354,162 |
5,693,742 | ||
Capital Goods 1.2% | ||
Alfa Laval AB | 1,419 | 20,358 |
Assa Abloy AB, Class B | 141,198 | 2,566,053 |
Atlas Copco AB, A Shares | 3,328 | 97,494 |
Atlas Copco AB, B Shares | 68,129 | 1,779,570 |
Eltel AB (d) | 400,794 | 2,487,062 |
Saab AB, Class B | 115,490 | 4,090,381 |
Sandvik AB | 5,267 | 59,841 |
Skanska AB, B Shares | 1,677 | 36,419 |
SKF AB, B Shares | 368,123 | 6,235,248 |
Volvo AB, B Shares | 7,637 | 81,914 |
17,454,340 | ||
Commercial & Professional Supplies 0.6% | ||
AF AB, B Shares (g) | 427,093 | 7,816,396 |
Intrum Justitia AB | 22,958 | 707,852 |
Securitas AB, B Shares | 1,527 | 23,567 |
8,547,815 | ||
Consumer Durables & Apparel 0.0% | ||
Electrolux AB, B Shares | 1,162 | 27,503 |
Husqvarna AB, B Shares | 63,055 | 474,058 |
501,561 | ||
Diversified Financials 0.0% | ||
Industrivarden AB, C Shares | 809 | 14,429 |
Investor AB, B Shares | 2,258 | 80,187 |
Kinnevik AB, Class B | 1,137 | 28,745 |
123,361 | ||
Energy 0.0% | ||
Lundin Petroleum AB * | 922 | 16,573 |
Food & Staples Retailing 0.0% | ||
Axfood AB | 28,189 | 440,536 |
ICA Gruppen AB | 397 | 12,325 |
452,861 | ||
Food, Beverage & Tobacco 0.4% | ||
AAK AB | 96,761 | 6,389,631 |
Swedish Match AB | 949 | 33,025 |
6,422,656 | ||
Health Care Equipment & Services 0.0% | ||
Getinge AB, B Shares | 976 | 15,982 |
Household & Personal Products 0.4% | ||
Oriflame Holding AG * | 167,400 | 6,150,180 |
Svenska Cellulosa AB, S.C.A., B Shares | 3,046 | 86,271 |
6,236,451 | ||
Materials 0.4% | ||
BillerudKorsnas AB | 28,097 | 461,393 |
Boliden AB | 47,312 | 1,096,524 |
Hexpol AB | 53,801 | 442,149 |
SSAB AB, A Shares * | 1,381,860 | 4,382,836 |
6,382,902 | ||
Real Estate 0.1% | ||
Fabege AB | 29,688 | 501,413 |
Fastighets AB Balder, B Shares * | 40,040 | 909,449 |
Hufvudstaden AB, A Shares | 30,997 | 479,755 |
1,890,617 | ||
Retailing 0.5% | ||
Hennes & Mauritz AB, B Shares | 247,153 | 6,950,598 |
Security | Number of Shares | Value ($) |
Technology Hardware & Equipment 0.2% | ||
Hexagon AB, B Shares | 62,114 | 2,173,497 |
Telefonaktiebolaget LM Ericsson, B Shares | 15,280 | 74,121 |
2,247,618 | ||
Telecommunication Services 0.0% | ||
Tele2 AB, B Shares | 1,554 | 12,832 |
Telia Co. AB | 13,088 | 52,285 |
65,117 | ||
67,181,540 | ||
Switzerland 5.7% | ||
Capital Goods 0.6% | ||
ABB Ltd. - Reg'd * | 9,835 | 202,900 |
Belimo Holding AG - Reg'd | 717 | 2,191,830 |
Burckhardt Compression Holding AG | 11,685 | 3,389,010 |
Daetwyler Holding AG | 18,155 | 2,487,055 |
Geberit AG - Reg'd | 187 | 79,058 |
Schindler Holding AG | 224 | 41,614 |
Schindler Holding AG - Reg'd | 99 | 18,326 |
8,409,793 | ||
Commercial & Professional Supplies 0.0% | ||
Adecco Group AG | 808 | 47,979 |
dorma+kaba Holding AG - Reg'd, Series B * | 689 | 478,775 |
SGS S.A. - Reg'd | 27 | 54,650 |
581,404 | ||
Consumer Durables & Apparel 1.0% | ||
Cie Financiere Richemont S.A. - Reg'd | 128,711 | 8,274,814 |
The Swatch Group AG - Bearer Shares | 23,916 | 7,192,901 |
The Swatch Group AG - Reg'd | 240 | 13,836 |
15,481,551 | ||
Diversified Financials 1.5% | ||
Cembra Money Bank AG * | 6,955 | 531,589 |
Credit Suisse Group AG - Reg'd * | 1,266,656 | 17,673,364 |
Julius Baer Group Ltd. * | 1,091 | 44,166 |
Pargesa Holding S.A. | 181 | 12,150 |
Partners Group Holding AG | 6,869 | 3,477,363 |
UBS Group AG - Reg’d | 18,147 | 256,556 |
21,995,188 | ||
Food, Beverage & Tobacco 0.1% | ||
Aryzta AG * | 448 | 19,686 |
Barry Callebaut AG - Reg'd * | 11 | 13,699 |
Chocoladefabriken Lindt & Spruengli AG | 5 | 25,964 |
Chocoladefabriken Lindt & Spruengli AG - Reg'd | 1 | 62,048 |
Nestle S.A. - Reg'd | 20,202 | 1,464,925 |
1,586,322 | ||
Health Care Equipment & Services 0.4% | ||
Sonova Holding AG - Reg'd | 260 | 34,869 |
Straumann Holding AG - Reg'd | 11,233 | 4,214,514 |
Ypsomed Holding AG - Reg’d * | 12,200 | 2,329,502 |
6,578,885 | ||
Insurance 0.0% | ||
Baloise Holding AG - Reg'd | 244 | 30,019 |
Swiss Life Holding AG - Reg'd * | 159 | 42,077 |
Swiss Re AG | 1,670 | 154,995 |
Zurich Insurance Group AG * | 752 | 196,841 |
423,932 | ||
Materials 0.6% | ||
EMS-Chemie Holding AG - Reg'd | 40 | 20,078 |
Givaudan S.A. - Reg'd | 46 | 88,967 |
LafargeHolcim Ltd. - Reg'd * | 168,941 | 9,011,433 |
Security | Number of Shares | Value ($) |
Sika AG | 11 | 52,871 |
Syngenta AG - Reg'd | 464 | 185,677 |
9,359,026 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.4% | ||
Actelion Ltd. - Reg'd * | 16,566 | 2,393,718 |
Galenica AG - Reg'd | 19 | 19,049 |
Lonza Group AG - Reg'd * | 11,194 | 2,112,327 |
Novartis AG - Reg'd | 11,140 | 790,579 |
Roche Holding AG | 3,505 | 805,034 |
6,120,707 | ||
Real Estate 0.0% | ||
Swiss Prime Site AG - Reg'd * | 354 | 29,360 |
Retailing 0.0% | ||
Dufry AG - Reg'd * | 225 | 27,373 |
Semiconductors & Semiconductor Equipment 0.2% | ||
U-Blox AG * | 15,496 | 2,929,144 |
Software & Services 0.3% | ||
Luxoft Holding, Inc. * | 7,307 | 387,271 |
Temenos Group AG - Reg'd * | 61,940 | 4,000,179 |
4,387,450 | ||
Technology Hardware & Equipment 0.3% | ||
Logitech International S.A. - Reg'd | 165,640 | 4,006,250 |
Telecommunication Services 0.0% | ||
Swisscom AG - Reg'd | 129 | 58,969 |
Transportation 0.3% | ||
Kuehne & Nagel International AG - Reg'd | 31,261 | 4,237,181 |
86,212,535 | ||
Taiwan 1.7% | ||
Automobiles & Components 0.3% | ||
Hota Industrial Manufacturing Co., Ltd. | 442,000 | 1,847,163 |
Tung Thih Electronic Co., Ltd. | 128,000 | 1,867,556 |
3,714,719 | ||
Capital Goods 0.2% | ||
Airtac International Group | 362,000 | 2,878,592 |
Consumer Durables & Apparel 0.5% | ||
Basso Industry Corp. | 955,000 | 2,568,269 |
Eclat Textile Co., Ltd. | 221,000 | 2,504,158 |
Nien Made Enterprise Co., Ltd. | 270,000 | 3,127,331 |
8,199,758 | ||
Consumer Services 0.2% | ||
Gourmet Master Co., Ltd. | 285,850 | 2,565,212 |
Semiconductors & Semiconductor Equipment 0.4% | ||
Taiwan Semiconductor Manufacturing Co., Ltd. | 182,000 | 1,092,246 |
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 164,443 | 5,114,177 |
6,206,423 | ||
Technology Hardware & Equipment 0.1% | ||
Largan Precision Co., Ltd. | 15,000 | 1,769,627 |
25,334,331 | ||
Thailand 0.1% | ||
Food & Staples Retailing 0.1% | ||
Taokaenoi Food & Marketing PCL | 2,144,300 | 1,593,022 |
Turkey 0.1% | ||
Banks 0.1% | ||
Turkiye Garanti Bankasi A/S | 460,394 | 1,252,796 |
Security | Number of Shares | Value ($) |
United Arab Emirates 0.1% | ||
Banks 0.1% | ||
Dubai Islamic Bank PJSC | 693,380 | 987,785 |
United Kingdom 14.9% | ||
Automobiles & Components 0.0% | ||
GKN plc | 8,280 | 32,291 |
Banks 1.4% | ||
Barclays plc | 83,963 | 194,526 |
HSBC Holdings plc | 98,843 | 744,400 |
Lloyds Banking Group plc | 21,067,975 | 14,712,252 |
Royal Bank of Scotland Group plc * | 2,115,738 | 4,889,279 |
Standard Chartered plc * | 16,436 | 142,926 |
20,683,383 | ||
Capital Goods 3.5% | ||
Ashtead Group plc | 491,446 | 7,657,475 |
BAE Systems plc | 15,908 | 105,402 |
Bunzl plc | 58,407 | 1,568,072 |
CNH Industrial N.V. | 1,369,989 | 10,636,100 |
Cobham plc | 8,004 | 13,965 |
Diploma plc (g) | 487,213 | 5,590,772 |
IMI plc | 1,329 | 16,143 |
Interserve plc | 887,296 | 3,676,282 |
Meggitt plc | 605,668 | 3,222,126 |
Rolls-Royce Holdings plc * | 9,109 | 80,857 |
Rolls-Royce Holdings plc *(f) | 419,014 | 513 |
Rotork plc | 718,280 | 1,791,935 |
Smiths Group plc | 169,826 | 2,942,775 |
Spirax-Sarco Engineering plc | 174,147 | 9,389,153 |
The Weir Group plc | 1,044 | 21,687 |
Travis Perkins plc | 1,202 | 19,556 |
Ultra Electronics Holdings plc | 191,014 | 4,340,166 |
Wolseley plc | 34,765 | 1,803,242 |
52,876,221 | ||
Commercial & Professional Supplies 1.3% | ||
Aggreko plc | 1,251 | 12,232 |
Babcock International Group plc | 60,664 | 733,296 |
Capita plc | 3,240 | 23,192 |
Experian plc | 331,059 | 6,364,455 |
G4S plc | 1,402,166 | 3,766,386 |
Intertek Group plc | 19,713 | 822,467 |
RELX plc | 5,447 | 97,230 |
Rentokil Initial plc | 2,391,970 | 6,671,973 |
Serco Group plc * | 1,122,430 | 1,879,802 |
20,371,033 | ||
Consumer Durables & Apparel 0.3% | ||
Barratt Developments plc | 4,964 | 27,528 |
Bellway plc | 156,405 | 4,526,083 |
Burberry Group plc | 2,218 | 40,002 |
Persimmon plc | 1,525 | 31,567 |
Taylor Wimpey plc | 16,196 | 28,047 |
The Berkeley Group Holdings plc | 648 | 18,689 |
4,671,916 | ||
Consumer Services 0.5% | ||
Carnival plc | 936 | 45,146 |
Compass Group plc | 151,304 | 2,737,736 |
Domino's Pizza Group plc | 109,357 | 454,693 |
Greene King plc | 341,788 | 3,057,448 |
InterContinental Hotels Group plc | 972 | 37,683 |
Merlin Entertainments plc | 3,460 | 19,500 |
TUI AG (e) | 2,409 | 30,536 |
TUI AG (e) | 96,105 | 1,222,816 |
Security | Number of Shares | Value ($) |
Whitbread plc | 890 | 39,316 |
William Hill plc | 4,309 | 15,588 |
7,660,462 | ||
Diversified Financials 0.8% | ||
3i Group plc | 107,731 | 883,093 |
Aberdeen Asset Management plc | 4,498 | 17,594 |
Ashmore Group plc | 807,980 | 3,469,916 |
Hargreaves Lansdown plc | 1,260 | 17,863 |
ICAP plc | 2,698 | 15,998 |
Intermediate Capital Group plc | 68,326 | 506,100 |
Investec plc | 3,030 | 18,805 |
Jupiter Fund Management plc | 79,055 | 416,823 |
London Stock Exchange Group plc | 1,581 | 54,305 |
Provident Financial plc | 710 | 25,596 |
Schroders plc | 173,765 | 5,980,957 |
Schroders plc, Non-Voting Shares | 1,100 | 28,012 |
11,435,062 | ||
Energy 0.5% | ||
BP plc | 93,053 | 550,102 |
Petrofac Ltd. | 1,264 | 12,448 |
Royal Dutch Shell plc, A Shares (e) | 21,336 | 531,417 |
Royal Dutch Shell plc, A Shares (e) | 158,372 | 3,946,213 |
Royal Dutch Shell plc, B Shares | 18,694 | 482,165 |
Tullow Oil plc * | 524,520 | 1,693,533 |
7,215,878 | ||
Food & Staples Retailing 0.0% | ||
J. Sainsbury plc | 8,306 | 25,467 |
Tesco plc * | 40,989 | 105,575 |
WM Morrison Supermarkets plc | 10,817 | 29,944 |
160,986 | ||
Food, Beverage & Tobacco 0.7% | ||
Associated British Foods plc | 1,765 | 53,090 |
British American Tobacco plc | 56,964 | 3,264,774 |
Coca-Cola European Partners plc | 1,064 | 40,948 |
Coca-Cola HBC AG CDI * | 966 | 20,846 |
Diageo plc | 195,270 | 5,197,411 |
Greencore Group plc | 412,632 | 1,665,136 |
Imperial Brands plc | 4,792 | 231,798 |
Tate & Lyle plc | 2,371 | 22,612 |
10,496,615 | ||
Health Care Equipment & Services 0.0% | ||
Mediclinic International plc | 1,955 | 21,677 |
Smith & Nephew plc | 4,443 | 64,230 |
85,907 | ||
Household & Personal Products 0.2% | ||
Reckitt Benckiser Group plc | 34,954 | 3,127,002 |
Unilever plc | 6,412 | 267,696 |
3,394,698 | ||
Insurance 0.2% | ||
Admiral Group plc | 41,773 | 978,707 |
Aviva plc | 20,339 | 110,212 |
Direct Line Insurance Group plc | 6,644 | 28,108 |
Hiscox Ltd. | 68,459 | 854,835 |
Legal & General Group plc | 29,316 | 74,998 |
Old Mutual plc | 24,824 | 61,066 |
Prudential plc | 12,768 | 208,359 |
RSA Insurance Group plc | 4,959 | 33,481 |
St. James's Place plc | 2,531 | 29,230 |
Standard Life plc | 9,602 | 39,624 |
2,418,620 | ||
Materials 3.3% | ||
Anglo American plc * | 7,039 | 97,696 |
Antofagasta plc | 1,862 | 12,384 |
Security | Number of Shares | Value ($) |
BHP Billiton plc | 293,894 | 4,419,303 |
Croda International plc | 257,464 | 11,010,398 |
Elementis plc | 678,093 | 1,977,642 |
Fresnillo plc | 1,068 | 21,487 |
Glencore plc * | 5,850,709 | 17,909,639 |
Johnson Matthey plc | 44,541 | 1,856,611 |
Mondi plc | 1,774 | 34,621 |
Randgold Resources Ltd. | 455 | 40,407 |
Rio Tinto plc | 6,186 | 215,120 |
RPC Group plc | 566,960 | 6,574,781 |
Victrex plc | 292,830 | 6,270,672 |
50,440,761 | ||
Media 0.5% | ||
Cineworld Group plc | 62,317 | 411,503 |
Informa plc | 174,605 | 1,436,493 |
ITV plc | 17,850 | 37,213 |
Pearson plc | 4,059 | 37,551 |
Sky plc | 170,516 | 1,704,690 |
UBM plc | 102,182 | 897,148 |
WPP plc | 104,083 | 2,259,959 |
6,784,557 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
AstraZeneca plc | 6,314 | 353,553 |
GlaxoSmithKline plc | 24,313 | 480,287 |
Hikma Pharmaceuticals plc | 698 | 14,971 |
848,811 | ||
Real Estate 0.0% | ||
Hammerson plc | 3,790 | 25,497 |
Intu Properties plc | 4,571 | 15,405 |
Land Securities Group plc | 3,855 | 47,072 |
Segro plc | 4,204 | 22,517 |
The British Land Co., plc | 4,746 | 33,979 |
144,470 | ||
Retailing 0.3% | ||
ASOS plc * | 54,040 | 3,469,026 |
Dixons Carphone plc | 4,729 | 18,181 |
Kingfisher plc | 11,245 | 49,674 |
Marks & Spencer Group plc | 8,017 | 33,357 |
Next plc | 708 | 41,654 |
WH Smith plc | 32,017 | 576,289 |
4,188,181 | ||
Software & Services 0.2% | ||
Auto Trader Group plc | 5,076 | 23,255 |
Micro Focus International plc | 41,526 | 1,087,380 |
Moneysupermarket.com Group plc | 102,524 | 328,263 |
The Sage Group plc | 172,290 | 1,520,108 |
Worldpay Group plc | 8,928 | 31,029 |
2,990,035 | ||
Technology Hardware & Equipment 1.0% | ||
Halma plc | 478,490 | 6,125,586 |
Laird plc | 1,482,932 | 2,631,909 |
Oxford Instruments plc | 162,095 | 1,341,214 |
Renishaw plc | 9,631 | 303,575 |
Spectris plc | 178,707 | 4,474,558 |
14,876,842 | ||
Telecommunication Services 0.0% | ||
BT Group plc | 42,195 | 193,677 |
Inmarsat plc | 2,172 | 18,631 |
Vodafone Group plc | 132,620 | 364,218 |
576,526 |
Security | Number of Shares | Value ($) |
Transportation 0.1% | ||
BBA Aviation plc | 583,400 | 1,844,726 |
easyJet plc | 768 | 8,807 |
Royal Mail plc | 4,388 | 26,326 |
1,879,859 | ||
Utilities 0.0% | ||
Centrica plc | 26,633 | 69,759 |
National Grid plc | 18,589 | 241,801 |
Severn Trent plc | 1,144 | 32,565 |
SSE plc | 5,055 | 98,285 |
United Utilities Group plc | 3,372 | 38,761 |
481,171 | ||
224,714,285 | ||
United States 0.4% | ||
Insurance 0.4% | ||
Willis Towers Watson plc | 49,966 | 6,290,719 |
Total Common Stock | ||
(Cost $1,334,528,352) | 1,440,835,913 | |
Preferred Stock 0.8% of net assets | ||
Brazil 0.1% | ||
Banks 0.1% | ||
Itau Unibanco Holding S.A. | 149,150 | 1,794,286 |
Germany 0.7% | ||
Automobiles & Components 0.0% | ||
Bayerische Motoren Werke AG | 280 | 21,259 |
Porsche Automobil Holding SE | 763 | 41,231 |
Schaeffler AG | 807 | 12,234 |
Volkswagen AG | 930 | 128,224 |
202,948 | ||
Capital Goods 0.2% | ||
Jungheinrich AG | 73,770 | 2,329,071 |
Health Care Equipment & Services 0.5% | ||
Sartorius AG | 90,520 | 7,125,419 |
Household & Personal Products 0.0% | ||
Henkel AG & Co. KGaA | 893 | 114,778 |
Materials 0.0% | ||
Fuchs Petrolub SE | 349 | 15,621 |
9,787,837 | ||
Italy 0.0% | ||
Banks 0.0% | ||
Intesa Sanpaolo S.p.A. - RSP | 4,119 | 8,918 |
Telecommunication Services 0.0% | ||
Telecom Italia S.p.A. - RSP * | 29,383 | 20,857 |
29,775 | ||
Total Preferred Stock | ||
(Cost $9,064,344) | 11,611,898 | |
Security | Number of Shares | Value ($) |
Other Investment Company 3.5% of net assets | ||
Money Market Fund 3.5% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.26% (a) | 52,671,243 | 52,671,243 |
Total Other Investment Company | ||
(Cost $52,671,243) | 52,671,243 | |
Rights 0.0% of net assets | ||
Italy 0.0% | ||
Diversified Financials 0.0% | ||
EXOR S.p.A. expires 11/9/16*(f) | 191,671 | — |
Spain 0.0% | ||
Banks 0.0% | ||
Banco Santander S.A. expires 11/7/16* | 71,251 | 3,989 |
Capital Goods 0.0% | ||
Ferrovial S.A. expires 11/14/16* | 2,414 | 1,033 |
5,022 | ||
Sweden 0.0% | ||
Telecommunication Services 0.0% | ||
Tele2 AB expires 11/16/16*(f) | 1,554 | 466 |
Total Rights | ||
(Cost $4,608) | 5,488 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 0.0% of net assets | ||
U.S. Treasury Obligations 0.0% | ||
U.S. Treasury Bills | ||
0.28%, 12/15/16 (b)(c) | 20,000 | 19,996 |
0.36%, 12/15/16 (b)(c) | 30,000 | 29,993 |
Total Short-Term Investments | ||
(Cost $49,980) | 49,989 |
At 10/31/16, the tax basis cost of the fund's investments was $1,419,196,513 and the unrealized appreciation and depreciation were $173,944,896 and ($87,966,878), respectively, with a net unrealized appreciation of $85,978,018.
* | Non-income producing security. |
(a) | The rate shown is the 7-day yield. |
(b) | All or a portion of this security is held as collateral for open futures contracts. |
(c) | The rate shown is the purchase yield. |
(d) | Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $7,407,704 or 0.5% of net assets. |
(e) | Securities are traded on separate exchanges for the same entity. |
(f) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
(g) | Illiquid security. At the period end, the value of these amounted to $51,233,277 or 3.4% of net assets. |
ADR — | American Depositary Receipt |
CDI — | CHESS Depositary Interest |
CVA — | Dutch Certificate |
Reg'd — | Registered |
REIT — | Real Estate Investment Trust |
RSP — | Risparmio (Convertible Savings Shares) |
SDR — | Swedish Depositary Receipt |
AUD — | Australian dollar |
CHF — | Swiss franc |
NZD — | New Zealand dollar |
USD — | U.S. dollar |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
MSCI EAFE, e-mini, Long, expires 12/16/16 | 338 | 28,150,330 | (463,498) |
Expiration Date | Counterparty | Currency to be Received | Amount of Currency to be Received | Currency to be Delivered | Amount of Currency to be Delivered | Unrealized Appreciation (Depreciation) ($) | ||||||
Forward Foreign Currency Exchange Contracts | ||||||||||||
12/21/2016 | State Street Bank & Trust Co. | USD | 1,198,894 | AUD | 1,578,000 | (37,865) | ||||||
03/15/2017 | State Street Bank & Trust Co. | USD | 11,445,237 | CHF | 11,236,000 | 212,905 | ||||||
01/25/2017 | State Street Bank & Trust Co. | USD | 18,173,405 | NZD | 25,489,000 | 48,681 | ||||||
Net Unrealized Appreciation on Forward Foreign Currency Exchange Contracts | 223,721 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Common Stock1 | $— | $336,950,459 | $— * | $336,950,459 | |
Argentina 1 | 1,494,953 | — | — | 1,494,953 | |
Austria 1 | — | 99,944 | — | 99,944 | |
Materials | 3,626,106 | 19,626 | — | 3,645,732 | |
Belgium 1 | — | 3,894,160 | — | 3,894,160 | |
Food, Beverage & Tobacco | 457,358 | — | — | 457,358 | |
Brazil 1 | 17,827,854 | — | — | 17,827,854 | |
Canada 1 | 85,871,288 | — | — | 85,871,288 | |
China 1 | — | 32,331,635 | — | 32,331,635 | |
Software & Services | 11,988,780 | 6,832,402 | — | 18,821,182 | |
France 1 | — | 122,076,800 | — | 122,076,800 | |
Capital Goods | 4,119,223 | 21,557,508 | — | 25,676,731 | |
Germany 1 | — | 90,788,811 | — | 90,788,811 | |
Utilities | 24,621 | 109,902 | — | 134,523 | |
Hong Kong1 | — | 15,438,246 | — * | 15,438,246 | |
Consumer Services | 5,586,305 | 1,935,508 | — | 7,521,813 | |
Telecommunication Services | 18,034 | 3,670,284 | — | 3,688,318 | |
Ireland 1 | — | 3,427,947 | — | 3,427,947 | |
Capital Goods | 684,872 | 35,066 | — | 719,938 | |
Food, Beverage & Tobacco | 1,896,084 | 4,675,641 | — | 6,571,725 | |
Pharmaceuticals, Biotechnology & Life Sciences | 1,261,921 | 3,302,447 | — | 4,564,368 | |
Israel 1 | — | 102,305 | — | 102,305 | |
Pharmaceuticals, Biotechnology & Life Sciences | 199,585 | — | — | 199,585 | |
Software & Services | 2,736,816 | 18,586 | — | 2,755,402 | |
Japan 1 | — | 223,091,979 | — | 223,091,979 | |
Media | 537,683 | 86,056 | — | 623,739 | |
Software & Services | 514,773 | 11,912,683 | — | 12,427,456 | |
Transportation | 615,820 | 727,513 | — | 1,343,333 | |
Mexico 1 | 11,056,798 | — | — | 11,056,798 | |
Netherlands 1 | — | 11,451,895 | — | 11,451,895 | |
Capital Goods | 34,204 | 6,869,231 | — | 6,903,435 | |
Semiconductors & Semiconductor Equipment | 1,383,600 | 2,049,122 | — | 3,432,722 | |
Peru 1 | 1,390,158 | — | — | 1,390,158 | |
Singapore 1 | — | 15,329,900 | — | 15,329,900 | |
Capital Goods | 73,640 | 2,006,153 | — | 2,079,793 | |
Transportation | 6,854,051 | 9,579,766 | — | 16,433,817 | |
South Africa1 | — | 4,774,288 | — | 4,774,288 | |
Food & Staples Retailing | 726,675 | 563,956 | — | 1,290,631 | |
Switzerland 1 | — | 71,828,970 | — | 71,828,970 | |
Capital Goods | 5,580,840 | 2,828,953 | — | 8,409,793 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Food, Beverage & Tobacco | $62,048 | $1,524,274 | $— | $1,586,322 | |
Software & Services | 387,271 | 4,000,179 | — | 4,387,450 | |
Taiwan 1 | — | 19,127,908 | — | 19,127,908 | |
Semiconductors & Semiconductor Equipment | 5,114,177 | 1,092,246 | — | 6,206,423 | |
Thailand 1 | 1,593,022 | — | — | 1,593,022 | |
United Kingdom1 | — | 156,961,222 | — | 156,961,222 | |
Capital Goods | 9,267,054 | 43,608,654 | 513 | 52,876,221 | |
Technology Hardware & Equipment | 3,973,123 | 10,903,719 | — | 14,876,842 | |
United States1 | 6,290,719 | — | — | 6,290,719 | |
Preferred Stock1 | — | 9,817,612 | — | 9,817,612 | |
Brazil 1 | 1,794,286 | — | — | 1,794,286 | |
Other Investment Company1 | 52,671,243 | — | — | 52,671,243 | |
Rights | |||||
Spain 1 | 5,022 | — | — | 5,022 | |
Sweden 1 | — | — | 466 | 466 | |
Short-Term Investments1 | — | 49,989 | — | 49,989 | |
Total | $247,720,007 | $1,257,453,545 | $979 | $1,505,174,531 | |
Other Financial Instruments | |||||
Forward Foreign Currency Exchange Contracts2 | $— | $261,586 | $— | $261,586 | |
Liabilities Valuation Input | |||||
Other Financial Instruments | |||||
Futures Contracts2 | ($463,498) | $— | $— | ($463,498) | |
Forward Foreign Currency Exchange Contracts2 | — | (37,865) | — | (37,865) |
* | Level 3 amount shown includes securities determined to have no value at October 31, 2016. |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts and forward foreign currency exchange contracts are not included in Investments in the schedule of Portfolio Holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments, at value (cost $1,396,318,527) | $1,505,174,531 | |
Foreign currency, at value (cost $930,676) | 927,109 | |
Deposit with broker for futures contracts | 3,610,000 | |
Receivables: | ||
Investments sold | 9,437,305 | |
Dividends | 2,120,673 | |
Foreign tax reclaims | 2,013,666 | |
Fund shares sold | 372,208 | |
Variation margin on futures contracts | 15,210 | |
Unrealized appreciation on forward foreign currency exchange contracts | 261,586 | |
Prepaid expenses | + | 25,850 |
Total assets | 1,523,958,138 | |
Liabilities | ||
Payables: | ||
Investments bought | 10,809,938 | |
Investment adviser and administrator fees | 1,489,915 | |
Shareholder service fees | 396,473 | |
Fund shares redeemed | 710,257 | |
Foreign capital gains tax | 87,240 | |
Unrealized depreciation on forward foreign currency exchange contracts | 37,865 | |
Accrued expenses and other liabilities | + | 97,891 |
Total liabilities | 13,629,579 | |
Net Assets | ||
Total assets | 1,523,958,138 | |
Total liabilities | – | 13,629,579 |
Net assets | $1,510,328,559 | |
Net Assets by Source | ||
Capital received from investors | 1,425,708,579 | |
Net investment income not yet distributed | 9,070,674 | |
Net realized capital losses | (32,818,857) | |
Net unrealized capital appreciation | 108,368,163 |
Net Asset Value (NAV) by Shares Class | |||||
Share Class | Net Assets | ÷ | Shares Outstanding | = | NAV |
Investor Shares | $447,272,458 | 21,129,187 | $21.17 | ||
Select Shares | $1,063,056,101 | 50,237,895 | $21.16 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $3,597,165) | $35,823,669 | |
Expenses | ||
Investment adviser and administrator fees | 20,764,241 | |
Shareholder service fees: | ||
Investor Shares | 1,080,079 | |
Select Shares | 1,883,042 | |
Custodian fees | 1,040,817 | |
Professional fees | 222,086* | |
Portfolio accounting fees | 173,141 | |
Transfer agent fees | 104,900 | |
Shareholder reports | 97,212 | |
Registration fees | 43,260 | |
Proxy fees | 24,655 | |
Independent trustees' fees | 17,875 | |
Interest expense | 1,474 | |
Other expenses | + | 109,144 |
Total expenses | 25,561,926 | |
Expense reduction by CSIM and its affiliates | – | 4,377,766 |
Net expenses | – | 21,184,160 |
Net investment income | 14,639,509 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments (net of foreign capital gain tax paid of ($169,206)) | (13,538,127) | |
Net realized gains on futures contracts | 4,835,300 | |
Net realized losses on foreign currency transactions | + | (1,151,342) |
Net realized losses | (9,854,169) | |
Net change in unrealized appreciation (depreciation) on investments (net of change in foreign capital gains tax of $87,240) | (18,712,752) | |
Net change in unrealized appreciation (depreciation) on futures contracts | 106,484 | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | (204,355) |
Net change in unrealized appreciation (depreciation) | + | (18,810,623) |
Net realized and unrealized losses | (28,664,792) | |
Decrease in net assets resulting from operations | ($14,025,283) |
* | Includes professional fees of $136,485 associated with the filing of tax claims in the European Union deemed to be non-routine expenses of the fund. See financial notes 2 and 4 for additional information. |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $14,639,509 | $18,349,960 | ||
Net realized gains (losses) | (9,854,169) | 113,949,202 | ||
Net change in unrealized appreciation (depreciation) | + | (18,810,623) | (115,270,897) | |
Increase (decrease) in net assets from operations | (14,025,283) | 17,028,265 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | ||||
Investor Shares | (6,292,923) | (8,584,765) | ||
Select Shares | + | (18,622,940) | (24,212,500) | |
Total distributions from net investment income | (24,915,863) | (32,797,265) | ||
Distributions from net realized gains | ||||
Investor Shares | (28,099,826) | — | ||
Select Shares | + | (72,880,802) | — | |
Total distributions from net realized gains | (100,980,628) | — | ||
Total distributions | ($125,896,491) | ($32,797,265) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares Sold | ||||||||
Investor Shares | 751,766 | $15,557,806 | 1,572,262 | $36,357,838 | ||||
Select Shares | + | 4,875,860 | 100,112,035 | 11,333,727 | 263,224,442 | |||
Total shares sold | 5,627,626 | $115,669,841 | 12,905,989 | $299,582,280 | ||||
Shares Reinvested | ||||||||
Investor Shares | 1,484,420 | $30,682,952 | 358,089 | $7,806,344 | ||||
Select Shares | + | 2,403,803 | 49,590,453 | 454,613 | 9,896,917 | |||
Total shares reinvested | 3,888,223 | $80,273,405 | 812,702 | $17,703,261 | ||||
Shares Redeemed | ||||||||
Investor Shares | (4,715,236) | ($97,117,882) | (5,819,694) | ($132,991,809) | ||||
Select Shares | + | (18,470,059) | (379,624,146) | (19,712,757) | (460,500,168) | |||
Total shares redeemed | (23,185,295) | ($476,742,028) | (25,532,451) | ($593,491,977) | ||||
Net transactions in fund shares | (13,669,446) | ($280,798,782) | (11,813,760) | ($276,206,436) | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 85,036,528 | $1,931,049,115 | 96,850,288 | $2,223,024,551 | ||||
Total decrease | + | (13,669,446) | (420,720,556) | (11,813,760) | (291,975,436) | |||
End of period | 71,367,082 | $1,510,328,559 | 85,036,528 | $1,931,049,115 | ||||
Net investment income not yet distributed | $9,070,674 | $15,706,816 |
SCHWAB CAPITAL TRUST (ORGANIZED MAY 7, 1993) | |
Laudus Small-Cap MarketMasters Fund | Schwab Target 2045 Fund |
Laudus International MarketMasters Fund | Schwab Target 2050 Fund |
Schwab ® S&P 500 Index Fund | Schwab Target 2055 Fund |
Schwab Small-Cap Index Fund® | Schwab Target 2060 Fund |
Schwab Total Stock Market Index Fund® | Schwab Fundamental US Large Company Index Fund |
Schwab International Index Fund® | Schwab Fundamental US Small Company Index Fund |
Schwab MarketTrack All Equity Portfolio™ | Schwab Fundamental International Large Company Index Fund |
Schwab MarketTrack Growth Portfolio™ | Schwab Fundamental International Small Company Index Fund |
Schwab MarketTrack Balanced Portfolio™ | Schwab Fundamental Emerging Markets Large Company Index Fund |
Schwab MarketTrack Conservative Portfolio™ | Schwab Fundamental Global Real Estate Index Fund |
Schwab Balanced Fund™ | Schwab Target 2010 Index Fund |
Schwab Core Equity Fund™ | Schwab Target 2015 Index Fund |
Schwab Dividend Equity Fund™ | Schwab Target 2020 Index Fund |
Schwab Large-Cap Growth Fund™ | Schwab Target 2025 Index Fund |
Schwab Small-Cap Equity Fund™ | Schwab Target 2030 Index Fund |
Schwab Hedged Equity Fund™ | Schwab Target 2035 Index Fund |
Schwab Health Care Fund™ | Schwab Target 2040 Index Fund |
Schwab ® International Core Equity Fund | Schwab Target 2045 Index Fund |
Schwab Target 2010 Fund | Schwab Target 2050 Index Fund |
Schwab Target 2015 Fund | Schwab Target 2055 Index Fund |
Schwab Target 2020 Fund | Schwab Target 2060 Index Fund |
Schwab Target 2025 Fund | Schwab ® Monthly Income Fund - Moderate Payout |
Schwab Target 2030 Fund | Schwab ® Monthly Income Fund - Enhanced Payout |
Schwab Target 2035 Fund | Schwab ® Monthly Income Fund - Maximum Payout |
Schwab Target 2040 Fund |
2. Significant Accounting Policies:
3. Risk Factors:
4. Affiliates and Affiliated Transactions:
% of Average Daily Net Assets | Laudus Small-Cap MarketMasters Fund | Laudus International MarketMasters Fund |
First $500 million | 1.17% | 1.29% |
$500 million to $1 billion | 1.13% | 1.275% |
Over $1 billion | 1.07% | 1.25% |
Laudus Small-Cap MarketMasters Fund | Laudus International MarketMasters Fund | |
Investor Shares | 1.35% | 1.40% |
Select Shares | 1.20% | 1.25% |
Underlying Funds | |||
Laudus Small-Cap MarketMasters Fund | Laudus International MarketMasters Fund | ||
Schwab Target 2010 Fund | 0.3% | 0.2% | |
Schwab Target 2015 Fund | 0.5% | 0.4% | |
Schwab Target 2020 Fund | 4.0% | 2.6% | |
Schwab Target 2025 Fund | 4.2% | 2.7% | |
Schwab Target 2030 Fund | 9.8% | 5.7% | |
Schwab Target 2035 Fund | 5.2% | 2.8% | |
Schwab Target 2040 Fund | 14.1% | 7.0% | |
Schwab Target 2045 Fund | 1.5% | 0.7% | |
Schwab Target 2050 Fund | 1.4% | 0.6% | |
Schwab Target 2055 Fund | 0.8% | 0.4% | |
Schwab Target 2060 Fund | 0.0%* | 0.0%* | |
Schwab Monthly Income Fund — Moderate Payout | —% | 0.4% | |
Schwab Monthly Income Fund — Enhanced Payout | —% | 0.5% | |
Schwab Monthly Income Fund — Maximum Payout | —% | 0.1% | |
Schwab Balanced Fund | 17.9% | —% |
* | Less than 0.05% |
5. Board of Trustees:
7. Purchases and Sales/Maturities of Investment Securities:
Purchases of Securities | Sales/Maturities of Securities | |
Laudus Small-Cap MarketMasters Fund | $129,172,375 | $136,972,124 |
Laudus International MarketMasters Fund | 1,087,948,992 | 1,445,787,947 |
8. Derivatives:
Contract Values | Number of Contracts | |
Laudus Small-Cap MarketMasters Fund | $1,072,611 | 9 |
Laudus International MarketMasters Fund | 34,072,653 | 411 |
Laudus Small-Cap MarketMasters Fund | Laudus International MarketMasters Fund | |||
Asset Derivatives | Fair Value | |||
Equity Index — Futures Contracts1 | $— | $— | ||
Forward Foreign Currency Exchange Contracts2 | $— | $261,586 | ||
Total | $— | $261,586 | ||
Liability Derivatives | Fair Value | |||
Equity Index — Futures Contracts3 | ($18,803) | ($463,498) | ||
Forward Foreign Currency Exchange Contracts4 | — | (37,865) | ||
Total | ($18,803) | ($501,363) |
1 | Includes cumulative unrealized appreciation of futures contracts as reported in the Schedule of Portfolio Holdings. Only current day's variation margin is reported within the Statement of Assets and Liabilities. |
2 | Statement of Assets and Liabilities location: Unrealized appreciation on forward foreign currency exchange contracts. |
3 | Includes cumulative unrealized depreciation of futures contracts as reported in the Schedule of Portfolio Holdings. Only current day's variation margin is reported within the Statement of Assets and Liabilities. |
4 | Statement of Assets and Liabilities location: Unrealized depreciation on forward foreign currency exchange contracts. |
Laudus Small-Cap MarketMasters Fund | Laudus International MarketMasters Fund | |
Equity Index Futures Contracts | ||
Realized Gains (Losses)1 | $470,724 | $4,835,300 |
Change in Unrealized Appreciation (Depreciation)2 | (84,784) | 106,484 |
Forward Foreign Currency Exchange Contracts | ||
Realized Gains (Losses)1 | $— | ($1,144,813) |
Change in Unrealized Appreciation (Depreciation)2 | — | (162,204) |
1 | Statement of Operations location: Net realized gains (losses) on futures contracts and net realized gains (losses) on foreign currency transactions. |
2 | Statement of Operations location: Net change in unrealized appreciation (depreciation) on futures contracts and net change in unrealized appreciation (depreciation) on foreign currency translations. |
Gross Amounts Not Offset in the Statement of Assets & Liabilities | |||||||
Counterparty | Net Amounts of Assets Presented in the Statement of Assets and Liabilities | Financial Instruments | Cash Collateral Received | Net Amounts(a) | |||
State Street Bank & Trust Co. | $261,586 | ($37,865) | $— | $223,721 | |||
Total | $261,586 | ($37,865) | $— | $223,721 | |||
Counterparty | Net Amounts of Liabilities Presented in the Statement of Assets and Liabilities | Financial Instruments | Cash Collateral Pledged | Net Amounts(b) | |||
State Street Bank & Trust Co. | ($37,865) | $37,865 | $— | $— | |||
Total | ($37,865) | $37,865 | $— | $— |
a | Represents the net amount due from the counterparty in the event of default. |
b | Represents the net amount due to the counterparty in the event of default. |
9. Redemption Fee:
Current Period (11/1/15-10/31/16) | Prior Period (11/1/14-10/31/15) | |
Laudus Small-Cap MarketMasters Fund | $110 | $565 |
Laudus International MarketMasters Fund | 11,152 | 10,335 |
10. Federal Income Taxes:
Laudus Small-Cap MarketMasters Fund | Laudus International MarketMasters Fund | ||
Undistributed ordinary income | $210,168 | $12,053,904 | |
Undistributed long-term capital gains | 1,679,241 | — | |
Unrealized appreciation on investments | 18,363,881 | 173,944,896 | |
Unrealized depreciation on investments | (13,026,238) | (87,966,878) | |
Other unrealized appreciation (depreciation) | — | (251,493) | |
Net unrealized appreciation (depreciation) | $5,337,643 | $85,726,525 |
* | As a result of the passage of the Regulated Investment Company Modernization Act of 2010, capital losses incurred after December 31, 2010 may now be carried forward indefinitely, but must retain the character of the original loss. |
Laudus Small-Cap MarketMasters Fund | Laudus International MarketMasters Fund | |
Current period distributions | ||
Ordinary income | $1,923,995 | $24,918,086 |
Long-term capital gains | 8,100,932 | 100,978,405 |
Prior period distributions | ||
Ordinary income | $513,285 | $32,797,265 |
Long-term capital gains | 3,718,541 | — |
Laudus Small-Cap MarketMasters Fund | Laudus International MarketMasters Fund | |
Capital shares | $— | $— |
Undistributed net investment income | (51) | 3,640,212 |
Net realized capital gains (losses) | 51 | (3,640,212) |
11. Recent Regulatory Development:
12. Subsequent Events:
Laudus Small-Cap MarketMasters Fund
Laudus International MarketMasters Fund
San Francisco, California
December 16, 2016
Percentage | |
Laudus Small-Cap MarketMasters Fund | 59.05 |
Laudus International MarketMasters Fund | — |
Laudus Small-Cap MarketMasters Fund | $1,923,995 |
Laudus International MarketMasters Fund | 28,407,630 |
Laudus Small-Cap MarketMasters Fund | $8,100,932 |
Laudus International MarketMasters Fund | 100,978,405 |
1. | the nature, extent and quality of the services provided to the Funds under the Agreements, including the resources of CSIM and its affiliates, and the Sub-Advisers, dedicated to the Funds; |
2. | each Fund’s investment performance and how it compared to that of certain other comparable mutual funds; |
3. | each Fund’s expenses and how those expenses compared to those of certain other comparable mutual funds, exchange-traded funds and other types of accounts; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to CSIM and its affiliates, as well as the profitability of the Sub-Advisers; and |
5. | the extent to which economies of scale would be realized as the Funds grow and whether fee levels in the Agreements reflect those economies of scale for the benefit of Fund investors. |
1. | the nature, extent and quality of the services to be provided to the Fund under the New Sub-Advisory Agreement, including the resources of The Boston Company to be dedicated to the Fund; |
2. | The Boston Company’s investment performance in providing sub-advisory services with respect to similar accounts; |
3. | the Fund’s expenses and how those expenses would be impacted by the hiring of The Boston Company; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (“Schwab”), with respect to the Fund, including both direct and indirect benefits accruing to CSIM and its affiliates; and |
5. | the extent to which economies of scale may be realized as the Fund grows and whether fee levels in the New Sub-Advisory Agreement with The Boston Company reflect the economies of scale for the benefit of Fund investors. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor (Jan. 2009 – present). Formerly, Managing Director, Pacific Investment Management Company, LLC (PIMCO) and President, PIMCO Funds. | 108 | Director, PS Business Parks, Inc. (2005 – 2012) |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Fellow, The Hoover Institution at Stanford University (Oct. 1979 – present); Senior Fellow, Stanford Institute for Economic Policy Research (2000 – present); Professor of Public Policy, Stanford University (1994 – 2015). | 108 | Director, Gilead Sciences, Inc. (2005 – present) |
Stephen Timothy Kochis 1946 Trustee (Trustee of Schwab Strategic Trust since 2012; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | CEO and Owner, Kochis Global (wealth management consulting) (May 2012 – present); Chairman and CEO, Aspiriant, LLC (wealth management) (Jan. 2008 – Apr. 2012). | 108 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 108 | Director, Symantec Corporation (2003 – present) Director, Corcept Therapeutics Incorporated (2004 – present) Director, Adamas Pharmaceuticals, Inc. (2009 – present) |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. Executive Vice President and General Manager of Small Business Group, Intuit, Inc. (financial software and services firm for consumers and small businesses) (Dec. 2008 – Sept. 2013). | 108 | Director, KLA-Tencor Corporation (2008 – present) |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant, Patmore Management Consulting (management consulting) (2008 – present). | 108 | None |
Charles A. Ruffel 1956 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2015) | Co-Chief Executive Officer, Kudu Investment Management, LLC (financial services) (Jan. 2015 – present); Partner, Kudu Advisors, LLC (financial services) (June 2008 – Jan. 2015); Advisor, Asset International, Inc. (publisher of financial services information) (Aug. 2008 – Jan. 2015). | 108 | None |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Chairman, Chief Executive Officer and Founder of Smith Graham & Co. (investment advisors) (Mar. 1990 – present). | 108 | Director, Eaton (2012 – present) Director and Chairman of the Audit Committee, Oneok Partners LP (2003 – 2013) Director, Oneok, Inc. (2009 – 2013) Lead Independent Director, Board of Cooper Industries (2002 – 2012) |
Joseph H. Wender 1944 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Consultant, Goldman Sachs & Co., Inc. (investment banking and securities firm) (Jan. 2008 – present); Partner, Colgin Partners, LLC (vineyards) (Feb. 1998 – present). | 108 | Board Member and Chairman of the Audit Committee, Ionis Pharmaceuticals (1994 – present) Lead Independent Director and Chair of Audit Committee, OUTFRONT Media Inc. (2014 – present) |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Director, President and Chief Executive Officer, The Charles Schwab Corporation (Oct. 2008 – present); President and Chief Executive Officer (Oct. 2008 – present), Director (May 2008 – present), Charles Schwab & Co., Inc.; Director, Charles Schwab Bank (Apr. 2006 – present); and Director, Schwab Holdings, Inc. (May 2008 – present). | 108 | Director, The Charles Schwab Corporation (2008 – present) |
Marie A. Chandoha2 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; Trustee (Jan. 2016 – present), President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Jan. 2011 – present); Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (Mar. 2007 – Aug. 2010). | 108 | None |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Senior Executive Vice President and Chief Financial Officer, The Charles Schwab Corporation and Charles Schwab & Co., Inc. (July 2015 – present); Executive Vice President and Chief Financial Officer of The Charles Schwab Corporation and Charles Schwab & Co., Inc. (May 2007 – July 2015); Director, Charles Schwab & Co., Inc. (May 2007 – present); Director (Apr. 2010 – present) and Chief Executive Officer (July 2013 – Apr. 2015), Charles Schwab Bank; Director, Executive Vice President and Chief Financial Officer, Schwab Holdings, Inc. (May 2007 – present). | 108 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Marie A. Chandoha 1961 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2010) | Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; Trustee (Jan. 2016 – present), President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Jan. 2011 – present); Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (Mar. 2007 – Aug. 2010). |
Mark Fischer 1970 Treasurer and Chief Financial Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer, Schwab Funds, Laudus Funds and Schwab ETFs (Jan. 2016 – present); Assistant Treasurer, Schwab Funds and Laudus Funds (Dec. 2013 – Dec. 2015), Schwab ETFs (Nov. 2013 – Dec. 2015); Vice President, Charles Schwab Investment Management, Inc. (Oct. 2013 – present); Executive Director, J.P. Morgan Investor Services (Apr. 2011 – Sept. 2013); Assistant Treasurer, Massachusetts Financial Service Investment Management (May 2005 – Mar. 2011). |
Officers of the Trust (continued) | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
George Pereira 1964 Senior Vice President and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2004; Laudus Trust since 2006; Schwab Strategic Trust since 2009) | Senior Vice President and Chief Financial Officer (Nov. 2004 – present), Chief Operating Officer (Jan. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Operating Officer (Jan. 2016 – present), Treasurer and Chief Financial Officer, Laudus Funds (June 2006 – Dec. 2015); Treasurer and Principal Financial Officer, Schwab Funds (Nov. 2004 – Dec. 2015) and Schwab ETFs (Oct. 2009 – Dec. 2015); Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Apr. 2005 – present). |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies, Charles Schwab Investment Management, Inc. (Apr. 2011 – present); Senior Vice President and Chief Investment Officer – Equities, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Head of the Portfolio Management Group and Vice President of Portfolio Management, Financial Engines, Inc. (May 2009 – Apr. 2011); Head of Quantitative Equity, ING Investment Management (July 2004 – Jan. 2009). |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer – Fixed Income, Charles Schwab Investment Management, Inc. (Apr. 2011 – present); Senior Vice President and Chief Investment Officer – Fixed Income, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Senior Managing Director, Global Head of Active Fixed-Income Strategies, State Street Global Advisors (Jan. 2008 – Oct. 2010); Director of Alpha Strategies Loomis, Sayles & Company (Apr. 2006 – Jan. 2008). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President (Sept. 2011 – present), Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present), Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (Apr. 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk, Laudus Funds (Apr. 2011 – present); Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Vice President, Charles Schwab & Co., Inc., Charles Schwab Investment Management, Inc. (July 2005 – present); Vice President (Dec. 2005 – present), Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary, Schwab ETFs (Oct. 2009 – present). |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger, Ms. Chandoha, and Mr. Martinetto are Interested Trustees because they own stock of The Charles Schwab Corporation, the parent company of the investment adviser. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
THIS IS NOT PART OF THE SHAREHOLDER REPORT
INFORMATION.
INFORMATION.
Partnership
all in one fund family.
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00186669
Table of Contents
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Equity Fund
Total Return for the 12 Months Ended October 31, 2016 | |
Schwab Core Equity Fund (Ticker Symbol: SWANX) | -0.50% |
S&P 500® Index | 4.51% |
Fund Category: Morningstar Large Blend | 2.12% |
Performance Details | pages 8-10 |
Schwab Dividend Equity Fund (Ticker Symbol: SWDSX) | 0.26% |
Russell 1000® Value Index | 6.37% |
Fund Category: Morningstar Large Value | 3.72% |
Performance Details | pages 11-13 |
Schwab Large-Cap Growth Fund (Ticker Symbol: SWLSX) | 0.54% |
Russell 1000® Growth Index | 2.28% |
Fund Category: Morningstar Large Growth | -0.07% |
Performance Details | pages 14-16 |
Schwab Small-Cap Equity Fund (Ticker Symbol: SWSCX) | 1.47% |
Russell 2000® Index | 4.11% |
Fund Category: Morningstar Small Blend | 2.91% |
Performance Details | pages 17-19 |
Total Return for the 12 Months Ended October 31, 2016 | |
Schwab Hedged Equity Fund (Ticker Symbol: SWHEX) | 3.55% |
S&P 500® Index | 4.51% |
Fund Category: Morningstar Long-Short Equity | -2.25% |
Performance Details | pages 20-22 |
Schwab Health Care Fund1 (Ticker Symbol: SWHFX) | -5.78% |
Dow Jones Global Health Care Index | -6.05% |
Fund Category: Morningstar Health | -11.09% |
Performance Details | pages 23-25 |
Schwab International Core Equity Fund1 (Ticker Symbol: SICNX) | -2.41% |
MSCI EAFE® Index (Net)2 | -3.23% |
Fund Category: Morningstar Foreign Large Blend | -2.08% |
Performance Details | pages 26-28 |
Minimum Initial Investment3 | $100 |
1 | The fund’s performance relative to the index may be affected by fair-value pricing and timing differences in foreign exchange calculations. See financial note 2 for more information. |
2 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
3 | Please see the funds’ prospectus for further detail and eligibility requirements. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g20748img27316a262.jpg)
President and CEO of
Charles Schwab Investment
Management, Inc. and the
funds covered in this report.
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g20748img03d7359e3.jpg)
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![]() | Jonas Svallin, CFA, Vice President and Head of Active Equities, has overall responsibility for all aspects of the management of the funds and leads the Active Equity portfolio management and research team. Prior to joining CSIM in 2012, Mr. Svallin spent nearly three years as a partner and a director of quantitative analytics and research at Fiduciary Research & Consulting, where he provided oversight of quantitative analytics and risk management efforts. From 2003 to 2009, Mr. Svallin was a principal and head portfolio manager at Algert Coldiron Investors LLC (now known as Algert Global). Prior to joining Algert, Mr. Svallin worked as a quantitative research associate at RCM Capital Management and a senior consultant at FactSet Research Systems. |
![]() | Wei Li, Ph.D., CFA, Managing Director and Senior Portfolio Manager, is responsible for the day-to-day co-management of the funds. Prior to joining CSIM in 2012, Ms. Li spent more than ten years at BlackRock, Inc. (formerly Barclays Global Investors), where she held a number of positions. From 2001 to 2009, she worked in various roles in the Global Advanced Active group, including portfolio management and quantitative research for both U.S. and international equity markets. After 2009, she worked in the defined contribution research and product development area for almost two years. |
![]() | Iain Clayton, CFA, FRM, Managing Director and Senior Portfolio Manager, is responsible for the day-to-day co-management of the Schwab Core Equity Fund, Schwab International Core Equity Fund and Schwab Health Care Fund. Prior to joining CSIM in 2013, Mr. Clayton spent more than five years at SSI Investment Management, where he was a portfolio manager and director of quantitative research. In these roles, Mr. Clayton co-managed multiple investment strategies and developed quantitative models and valuation approaches. From 2004 to 2008, he worked as a portfolio manager and director at RCM Capital Management (now known as Allianz Global Investors) and helped manage various equity portfolios and developed fundamental-based stock selection models. Prior to that, he was a vice president at Eureka Investment Advisors for almost three years and also served as a senior quantitative analyst/assistant portfolio manager. He has also worked as a quantitative research analyst at RCM Capital Management. |
Number of Holdings | 132 |
Weighted Average Market Cap (millions) | $117,897 |
Price/Earnings Ratio (P/E) | 19.4 |
Price/Book Ratio (P/B) | 2.3 |
Portfolio Turnover Rate | 80% |
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1 | This list is not a recommendation of any security by the investment adviser. |
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Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Core Equity Fund (7/1/96) | -0.50% | 12.19% | 5.72% |
S&P 500® Index | 4.51% | 13.57% | 6.70% |
Fund Category: Morningstar Large Blend | 2.12% | 11.90% | 5.80% |
Fund Expense Ratio4: 0.74% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On May 21, 2009 and September 7, 2012, respectively, the Laudus U.S. MarketMasters Fund and the Schwab Premier Equity Fund merged into the fund. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Reflects the total annual fund operating expenses without contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 140 |
Weighted Average Market Cap (millions) | $73,190 |
Price/Earnings Ratio (P/E) | 16.2 |
Price/Book Ratio (P/B) | 1.6 |
Portfolio Turnover Rate | 74% |
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1 | This list is not a recommendation of any security by the investment adviser. |
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Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Dividend Equity Fund (9/2/03) | 0.26% | 10.58% | 5.40% |
Russell 1000® Value Index | 6.37% | 13.31% | 5.35% |
Dividend Equity Spliced Index | 6.37% | 13.31% | 6.58% |
S&P 500® Index | 4.51% | 13.57% | 6.70% |
Fund Category: Morningstar Large Value | 3.72% | 11.34% | 4.91% |
Fund Expense Ratio4: 0.88% |
30-Day SEC Yield | 1.58% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On October 7, 2009, the Investor Share class and Select Share class were combined into a single class of shares of the fund. The performance history of the fund prior to October 7, 2009 is that of the fund’s former Select Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Reflects the total annual fund operating expenses without contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 118 |
Weighted Average Market Cap (millions) | $135,001 |
Price/Earnings Ratio (P/E) | 21.1 |
Price/Book Ratio (P/B) | 3.6 |
Portfolio Turnover Rate | 84% |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g20748imgfdf10dda12.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g20748img12521aa313.jpg)
1 | This list is not a recommendation of any security by the investment adviser. |
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Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Large-Cap Growth Fund (10/3/05) | 0.54% | 12.55% | 6.43% |
Russell 1000® Growth Index | 2.28% | 13.65% | 8.22% |
Fund Category: Morningstar Large Growth | -0.07% | 11.98% | 6.96% |
Fund Expense Ratios4: Net 0.99%; Gross 1.03% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On October 7, 2009, the Investor Share class and Select Share class were combined into a single class of shares of the fund. The performance history of the fund prior to October 7, 2009 is that of the fund’s former Select Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 267 |
Weighted Average Market Cap (millions) | $1,475 |
Price/Earnings Ratio (P/E) | 14.2 |
Price/Book Ratio (P/B) | 1.8 |
Portfolio Turnover Rate | 85% |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g20748img307b5dd214.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g20748img3b4f2abf15.jpg)
1 | This list is not a recommendation of any security by the investment adviser. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g20748lg_2m35.jpg)
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Small-Cap Equity Fund (7/1/03) | 1.47% | 13.34% | 5.82% |
Russell 2000® Index | 4.11% | 11.51% | 5.96% |
Fund Category: Morningstar Small Blend | 2.91% | 10.53% | 5.71% |
Fund Expense Ratio4: 1.09% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On September 28, 2009, the Investor Share class and Select Share class were combined into a single class of shares of the fund. The performance history of the fund prior to September 28, 2009 is that of the fund’s former Select Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Reflects the total annual fund operating expenses without contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | |
Long Holdings | 145 |
Short Holdings | 104 |
Weighted Average Market Cap (millions) | |
Long Holdings | $58,694 |
Short Holdings | $8,359 |
Price/Earnings Ratio (P/E) | |
Long Holdings | 15.9 |
Short Holdings | 24.5 |
Price/Book Ratio (P/B) | |
Long Holdings | 1.8 |
Short Holdings | 3.0 |
Portfolio Turnover Rate | 142% |
Portfolio Turnover Rate excluding short sales | 101% |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g20748img8f178c2316.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g20748img07ef914c17.jpg)
1 | This list is not a recommendation of any security by the investment adviser. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g20748lg_2m36.jpg)
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Hedged Equity Fund (9/3/02) | 3.55% | 7.94% | 3.62% |
S&P 500® Index | 4.51% | 13.57% | 6.70% |
Fund Category: Morningstar Long-Short Equity | -2.25% | 4.41% | 4.41% |
Fund Expense Ratios4: Net 1.82%; Gross 1.84% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On September 28, 2009, the Investor Share class and Select Share class were combined into a single class of shares of the fund. The performance history of the fund prior to September 28, 2009 is that of the fund’s former Select Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 83 |
Weighted Average Market Cap (millions) | $87,659 |
Price/Earnings Ratio (P/E) | 21.6 |
Price/Book Ratio (P/B) | 3.6 |
Portfolio Turnover Rate | 54% |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g20748imge96cc76118.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g20748img170458a319.jpg)
1 | This list is not a recommendation of any security by the investment adviser. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g20748lg_2m42.jpg)
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Health Care Fund (7/3/00) | -5.78% | 15.88% | 9.65% |
Dow Jones Global Health Care Index | -6.05% | 14.12% | 8.08% |
S&P 500® Index | 4.51% | 13.57% | 6.70% |
Fund Category: Morningstar Health | -11.09% | 16.56% | 9.85% |
Fund Expense Ratio3: 0.79% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Reflects the total annual fund operating expenses without contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 196 |
Weighted Average Market Cap (millions) | $43,507 |
Price/Earnings Ratio (P/E) | 13.8 |
Price/Book Ratio (P/B) | 1.7 |
Portfolio Turnover Rate | 90% |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g20748img7ab963e320.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g20748img3911ff9521.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g20748img43e0977d22.jpg)
1 | This list is not a recommendation of any security by the investment adviser. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g20748lg_2mc9.jpg)
Fund and Inception Date | 1 Year | 5 Years | Since Inception |
Fund: Schwab International Core Equity Fund (5/30/08) | -2.41% | 7.64% | 1.43% |
MSCI EAFE® Index (Net)4 | -3.23% | 4.99% | -0.10% |
MSCI EAFE® Index (Gross) | -2.74% | 5.48% | 0.36% |
Fund Category: Morningstar Foreign Large Blend | -2.08% | 4.69% | -0.46% |
Fund Expense Ratios5: Net 0.86%; Gross 0.92% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On October 7, 2009, the Investor Share class, Select Share class and Institutional Share class were combined into a single class of shares of the fund. The performance history of the fund prior to October 7, 2009 is that of the fund’s former Institutional Shares. On December 3, 2009, the Laudus Rosenberg International Equity Fund merged into the fund. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
5 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
As a fund shareholder, you may incur two types of costs: (1) transaction costs, such as redemption fees; and (2) ongoing costs, including management fees, transfer agent and shareholder services fees, and other fund expenses.
Expense Ratio (Annualized)1 | Beginning Account Value at 5/1/16 | Ending Account Value (Net of Expenses) at 10/31/16 | Expenses Paid During Period 5/1/16-10/31/162 | |
Schwab Core Equity Fund | ||||
Actual Return | 0.73% | $1,000.00 | $1,039.10 | $3.74 |
Hypothetical 5% Return | 0.73% | $1,000.00 | $1,021.43 | $3.71 |
Schwab Dividend Equity Fund | ||||
Actual Return | 0.88% | $1,000.00 | $1,017.70 | $4.46 |
Hypothetical 5% Return | 0.88% | $1,000.00 | $1,020.68 | $4.47 |
Schwab Large-Cap Growth Fund | ||||
Actual Return | 0.99% | $1,000.00 | $1,041.80 | $5.08 |
Hypothetical 5% Return | 0.99% | $1,000.00 | $1,020.12 | $5.03 |
Schwab Small-Cap Equity Fund | ||||
Actual Return | 1.09% | $1,000.00 | $1,048.50 | $5.61 |
Hypothetical 5% Return | 1.09% | $1,000.00 | $1,019.62 | $5.53 |
Schwab Hedged Equity Fund | ||||
Actual Return | 1.89% | $1,000.00 | $1,049.70 | $9.74 |
Hypothetical 5% Return | 1.89% | $1,000.00 | $1,015.60 | $9.58 |
Schwab Health Care Fund | ||||
Actual Return | 0.79% | $1,000.00 | $ 965.50 | $3.90 |
Hypothetical 5% Return | 0.79% | $1,000.00 | $1,021.13 | $4.01 |
Schwab International Core Equity Fund | ||||
Actual Return | 0.86% | $1,000.00 | $1,018.80 | $4.36 |
Hypothetical 5% Return | 0.86% | $1,000.00 | $1,020.78 | $4.37 |
1 | Based on the most recent six-month expense ratio; may differ from the expense ratio provided in the Financial Highlights which covers a 12- month period. This ratio does not include certain non-routine expenses, such as proxy expenses. |
2 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by the 366 days of the fiscal year. |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $23.10 | $25.48 | $23.46 | $18.80 | $16.81 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.38 1 | 0.30 1 | 0.30 | 0.32 | 0.26 | |
Net realized and unrealized gains (losses) | (0.52) | 1.05 | 3.60 | 4.51 | 2.07 | |
Total from investment operations | (0.14) | 1.35 | 3.90 | 4.83 | 2.33 | |
Less distributions: | ||||||
Distributions from net investment income | (0.36) | (0.33) | (0.22) | (0.17) | (0.34) | |
Distributions from net realized gains | (2.95) | (3.40) | (1.66) | — | — | |
Total distributions | (3.31) | (3.73) | (1.88) | (0.17) | (0.34) | |
Net asset value at end of period | $19.65 | $23.10 | $25.48 | $23.46 | $18.80 | |
Total return | (0.50%) | 5.61% | 17.88% | 25.89% | 13.99% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.73% | 0.74% | 0.72% | 0.72% | 0.72% | |
Gross operating expenses | 0.73% | 0.74% | 0.72% | 0.73% | 0.73% | |
Net investment income (loss) | 1.93% | 1.29% | 1.19% | 1.51% | 1.37% | |
Portfolio turnover rate | 80% | 81% | 63% | 80% | 45% 2 | |
Net assets, end of period (x 1,000,000) | $2,075 | $2,363 | $2,317 | $2,247 | $1,880 | |
Holdings by Category | Cost ($) | Value ($) | |
99.5% | Common Stock | 1,840,602,469 | 2,065,597,732 |
0.4% | Other Investment Company | 8,544,366 | 8,544,366 |
99.9% | Total Investments | 1,849,146,835 | 2,074,142,098 |
0.1% | Other Assets and Liabilities, Net | 1,102,725 | |
100.0% | Net Assets | 2,075,244,823 |
Security | Number of Shares | Value ($) |
Common Stock 99.5% of net assets | ||
Automobiles & Components 1.9% | ||
Lear Corp. | 328,386 | 40,319,233 |
Banks 4.4% | ||
Bank of America Corp. | 1,049,043 | 17,309,209 |
Citigroup, Inc. | 1,158,046 | 56,917,961 |
Citizens Financial Group, Inc. | 157,081 | 4,137,514 |
MGIC Investment Corp. * | 243,780 | 1,989,245 |
Regions Financial Corp. | 1,024,695 | 10,974,483 |
91,328,412 | ||
Capital Goods 8.2% | ||
AECOM * | 114,814 | 3,197,570 |
Allison Transmission Holdings, Inc. | 479,184 | 14,035,299 |
BWX Technologies, Inc. | 273,285 | 10,718,238 |
Carlisle Cos., Inc. | 229,359 | 24,048,291 |
Curtiss-Wright Corp. | 95,345 | 8,544,819 |
EMCOR Group, Inc. | 77,943 | 4,712,434 |
Fluor Corp. | 136,331 | 7,087,849 |
Huntington Ingalls Industries, Inc. | 163,912 | 26,448,840 |
Illinois Tool Works, Inc. | 78,123 | 8,872,429 |
Northrop Grumman Corp. | 15,575 | 3,566,675 |
Owens Corning | 397,364 | 19,383,416 |
Quanta Services, Inc. * | 161,108 | 4,631,855 |
Stanley Black & Decker, Inc. | 310,938 | 35,397,182 |
170,644,897 | ||
Commercial & Professional Supplies 1.0% | ||
ManpowerGroup, Inc. | 144,409 | 11,090,611 |
RR Donnelley & Sons Co. | 496,316 | 8,809,609 |
19,900,220 | ||
Consumer Durables & Apparel 1.1% | ||
Brunswick Corp. | 123,264 | 5,361,984 |
Michael Kors Holdings Ltd. * | 255,983 | 12,998,817 |
Whirlpool Corp. | 25,520 | 3,823,406 |
22,184,207 | ||
Security | Number of Shares | Value ($) |
Consumer Services 1.3% | ||
Darden Restaurants, Inc. | 385,840 | 24,998,574 |
International Game Technology plc | 73,148 | 2,100,810 |
27,099,384 | ||
Diversified Financials 4.4% | ||
Ally Financial, Inc. | 771,928 | 13,948,739 |
Capital One Financial Corp. | 152,053 | 11,258,004 |
Discover Financial Services | 159,963 | 9,010,716 |
Federated Investors, Inc., Class B | 242,895 | 6,558,165 |
Morgan Stanley | 247,850 | 8,320,325 |
MSCI, Inc. | 86,616 | 6,945,737 |
The Bank of New York Mellon Corp. | 184,668 | 7,990,584 |
Thomson Reuters Corp. | 89,571 | 3,529,993 |
Voya Financial, Inc. | 788,960 | 24,102,728 |
91,664,991 | ||
Energy 6.5% | ||
Apache Corp. | 63,230 | 3,760,920 |
Baker Hughes, Inc. | 527,153 | 29,204,276 |
Chevron Corp. | 147,246 | 15,424,019 |
ConocoPhillips | 456,890 | 19,851,870 |
Diamond Offshore Drilling, Inc. | 241,888 | 3,988,733 |
Exxon Mobil Corp. | 318,323 | 26,522,672 |
QEP Resources, Inc. | 346,081 | 5,561,522 |
Valero Energy Corp. | 450,049 | 26,660,903 |
World Fuel Services Corp. | 84,398 | 3,397,020 |
134,371,935 | ||
Food & Staples Retailing 2.3% | ||
Wal-Mart Stores, Inc. | 694,565 | 48,633,441 |
Food, Beverage & Tobacco 5.9% | ||
Altria Group, Inc. | 239,049 | 15,805,920 |
B&G Foods, Inc. | 155,748 | 6,603,715 |
Dr Pepper Snapple Group, Inc. | 284,520 | 24,978,011 |
PepsiCo, Inc. | 481,185 | 51,583,032 |
The JM Smucker Co. | 52,039 | 6,833,241 |
Tyson Foods, Inc., Class A | 245,271 | 17,377,450 |
123,181,369 | ||
Health Care Equipment & Services 5.4% | ||
Becton, Dickinson & Co. | 66,497 | 11,165,511 |
Boston Scientific Corp. * | 665,348 | 14,637,656 |
C.R. Bard, Inc. | 35,836 | 7,764,944 |
Cardinal Health, Inc. | 163,950 | 11,261,725 |
Hologic, Inc. * | 940,087 | 33,852,533 |
IDEXX Laboratories, Inc. * | 35,886 | 3,844,826 |
Teleflex, Inc. | 36,821 | 5,270,190 |
UnitedHealth Group, Inc. | 96,414 | 13,626,191 |
WellCare Health Plans, Inc. * | 93,831 | 10,650,757 |
112,074,333 | ||
Security | Number of Shares | Value ($) |
Household & Personal Products 2.3% | ||
Spectrum Brands Holdings, Inc. | 218,517 | 29,552,239 |
The Procter & Gamble Co. | 202,959 | 17,616,841 |
47,169,080 | ||
Insurance 3.9% | ||
American Financial Group, Inc. | 260,625 | 19,416,563 |
Everest Re Group Ltd. | 55,795 | 11,355,398 |
Loews Corp. | 325,490 | 14,005,835 |
Reinsurance Group of America, Inc. | 117,956 | 12,722,734 |
The Allstate Corp. | 55,331 | 3,756,975 |
The Travelers Cos., Inc. | 125,739 | 13,602,445 |
Unum Group | 186,683 | 6,608,578 |
81,468,528 | ||
Materials 3.5% | ||
Axalta Coating Systems Ltd. * | 393,690 | 9,889,493 |
Berry Plastics Group, Inc. * | 450,616 | 19,714,450 |
Cabot Corp. | 221,898 | 11,569,762 |
Graphic Packaging Holding Co. | 579,197 | 7,239,963 |
International Paper Co. | 104,542 | 4,707,526 |
RPM International, Inc. | 264,723 | 12,584,931 |
The Sherwin-Williams Co. | 32,743 | 8,017,451 |
73,723,576 | ||
Media 2.9% | ||
AMC Networks, Inc., Class A * | 205,235 | 10,042,149 |
CBS Corp., Class B - Non Voting Shares | 134,700 | 7,626,714 |
Comcast Corp., Class A | 556,442 | 34,399,244 |
Live Nation Entertainment, Inc. * | 276,362 | 7,646,937 |
59,715,044 | ||
Pharmaceuticals, Biotechnology & Life Sciences 8.3% | ||
AbbVie, Inc. | 105,710 | 5,896,504 |
Amgen, Inc. | 147,119 | 20,767,318 |
Biogen, Inc. * | 30,221 | 8,467,320 |
Celgene Corp. * | 41,284 | 4,218,399 |
Johnson & Johnson | 211,942 | 24,583,152 |
Merck & Co., Inc. | 977,999 | 57,428,101 |
Pfizer, Inc. | 1,417,558 | 44,950,764 |
Thermo Fisher Scientific, Inc. | 42,353 | 6,227,162 |
172,538,720 | ||
Real Estate 2.8% | ||
Apartment Investment & Management Co., Class A | 241,140 | 10,627,040 |
Equity LifeStyle Properties, Inc. | 183,337 | 13,904,278 |
SL Green Realty Corp. | 334,801 | 32,884,154 |
57,415,472 | ||
Retailing 5.5% | ||
Amazon.com, Inc. * | 72,206 | 57,029,743 |
Best Buy Co., Inc. | 237,330 | 9,234,510 |
Kohl's Corp. | 242,357 | 10,603,119 |
Lowe's Cos., Inc. | 516,687 | 34,437,189 |
The Home Depot, Inc. | 16,527 | 2,016,459 |
113,321,020 | ||
Security | Number of Shares | Value ($) |
Semiconductors & Semiconductor Equipment 2.0% | ||
Intel Corp. | 561,820 | 19,590,664 |
Maxim Integrated Products, Inc. | 336,664 | 13,341,994 |
QUALCOMM, Inc. | 60,000 | 4,123,200 |
Teradyne, Inc. | 210,022 | 4,891,412 |
41,947,270 | ||
Software & Services 14.1% | ||
Alphabet, Inc., Class A * | 76,579 | 62,021,332 |
Alphabet, Inc., Class C * | 10,791 | 8,465,971 |
Check Point Software Technologies Ltd. * | 23,337 | 1,973,377 |
Citrix Systems, Inc. * | 199,176 | 16,890,125 |
CoreLogic, Inc. * | 281,563 | 11,983,321 |
eBay, Inc. * | 378,285 | 10,784,905 |
Facebook, Inc., Class A * | 211,411 | 27,692,727 |
IAC/InterActiveCorp | 68,058 | 4,385,658 |
International Business Machines Corp. | 107,750 | 16,560,098 |
MasterCard, Inc., Class A | 41,772 | 4,470,439 |
Microsoft Corp. | 727,846 | 43,612,532 |
Nuance Communications, Inc. * | 825,183 | 11,569,066 |
Science Applications International Corp. | 20,034 | 1,380,543 |
Synopsys, Inc. * | 114,195 | 6,772,905 |
Teradata Corp. * | 910,977 | 24,559,940 |
The Western Union Co. | 275,344 | 5,526,154 |
Vantiv, Inc., Class A * | 93,114 | 5,434,133 |
VeriSign, Inc. * | 96,010 | 8,066,760 |
Xerox Corp. | 2,144,515 | 20,951,912 |
293,101,898 | ||
Technology Hardware & Equipment 4.5% | ||
Anixter International, Inc. * | 65,996 | 4,339,237 |
Apple, Inc. | 547,762 | 62,192,898 |
HP, Inc. | 1,893,398 | 27,435,337 |
93,967,472 | ||
Telecommunication Services 1.5% | ||
AT&T, Inc. | 456,704 | 16,802,140 |
T-Mobile US, Inc. * | 274,971 | 13,674,308 |
30,476,448 | ||
Transportation 1.0% | ||
FedEx Corp. | 99,385 | 17,324,793 |
JetBlue Airways Corp. * | 175,103 | 3,060,801 |
20,385,594 | ||
Utilities 4.8% | ||
CenterPoint Energy, Inc. | 620,190 | 14,140,332 |
Edison International | 179,038 | 13,155,712 |
FirstEnergy Corp. | 989,489 | 33,929,578 |
Southwest Gas Corp. | 41,156 | 2,982,164 |
UGI Corp. | 750,862 | 34,757,402 |
98,965,188 | ||
Total Common Stock | ||
(Cost $1,840,602,469) | 2,065,597,732 | |
Security | Number of Shares | Value ($) |
Other Investment Company 0.4% of net assets | ||
Money Market Fund 0.4% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.26% (a) | 8,544,366 | 8,544,366 |
* | Non-income producing security. |
(a) | The rate shown is the 7-day yield. |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
S&P 500 Index, e-mini, Long, expires 12/16/16 | 60 | 6,360,300 | (57,970) |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Common Stock1 | $2,065,597,732 | $— | $— | $2,065,597,732 | |
Other Investment Company1 | 8,544,366 | — | — | 8,544,366 | |
Total | $2,074,142,098 | $— | $— | $2,074,142,098 | |
Liabilities Valuation Input | |||||
Other Financial Instruments | |||||
Futures Contracts2 | ($57,970) | $— | $— | ($57,970) |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of Portfolio Holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments, at value (cost $1,849,146,835) | $2,074,142,098 | |
Deposit with broker for futures contracts | 1,827,000 | |
Receivables: | ||
Investments sold | 393,256 | |
Dividends | 1,215,764 | |
Fund shares sold | 491,983 | |
Income from securities on loan | 1,788 | |
Prepaid expenses | + | 28,211 |
Total assets | 2,078,100,100 | |
Liabilities | ||
Payables: | ||
Investment adviser and administrator fees | 837,745 | |
Shareholder service fees | 388,095 | |
Fund shares redeemed | 1,513,941 | |
Variation margin on futures contracts | 11,100 | |
Accrued expenses | + | 104,396 |
Total liabilities | 2,855,277 | |
Net Assets | ||
Total assets | 2,078,100,100 | |
Total liabilities | – | 2,855,277 |
Net assets | $2,075,244,823 | |
Net Assets by Source | ||
Capital received from investors | 1,825,603,961 | |
Net investment income not yet distributed | 27,905,265 | |
Net realized capital losses | (3,201,696) | |
Net unrealized capital appreciation | 224,937,293 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$2,075,244,823 | 105,624,998 | $19.65 | ||
Investment Income | ||
Dividends | $57,295,226 | |
Securities on loan | + | 196,867 |
Total investment income | 57,492,093 | |
Expenses | ||
Investment adviser and administrator fees | 10,153,297 | |
Shareholder service fees | 5,254,635 | |
Shareholder reports | 99,338 | |
Portfolio accounting fees | 64,367 | |
Registration fees | 54,271 | |
Transfer agent fees | 46,600 | |
Custodian fees | 40,823 | |
Proxy fees | 40,427 | |
Professional fees | 37,807 | |
Independent trustees' fees | 20,938 | |
Interest expense | 468 | |
Other expenses | + | 30,494 |
Total expenses | 15,843,465 | |
Expense reduction by CSIM and its affiliates | – | 46,600 |
Net expenses | – | 15,796,865 |
Net investment income | 41,695,228 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 1,371,024 | |
Net realized gains on futures contracts | + | 1,613,699 |
Net realized gains | 2,984,723 | |
Net change in unrealized appreciation (depreciation) on investments | (59,443,415) | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (762,033) |
Net change in unrealized appreciation (depreciation) | + | (60,205,448) |
Net realized and unrealized losses | (57,220,725) | |
Decrease in net assets resulting from operations | ($15,525,497) |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $41,695,228 | $30,380,445 | ||
Net realized gains | 2,984,723 | 307,255,040 | ||
Net change in unrealized appreciation (depreciation) | + | (60,205,448) | (207,380,437) | |
Increase (decrease) in net assets from operations | (15,525,497) | 130,255,048 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (37,055,587) | (30,311,016) | ||
Distributions from net realized gains | + | (299,452,225) | (308,068,333) | |
Total distributions | ($336,507,812) | ($338,379,349) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 9,848,997 | $188,207,369 | 12,845,696 | $293,750,932 | ||||
Shares reinvested | 12,520,076 | 244,391,884 | 10,461,915 | 236,857,753 | ||||
Shares redeemed | + | (19,037,976) | (368,198,142) | (11,947,882) | (276,936,418) | |||
Net transactions in fund shares | 3,331,097 | $64,401,111 | 11,359,729 | $253,672,267 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 102,293,901 | $2,362,877,021 | 90,934,172 | $2,317,329,055 | ||||
Total increase or decrease | + | 3,331,097 | (287,632,198) | 11,359,729 | 45,547,966 | |||
End of period | 105,624,998 | $2,075,244,823 | 102,293,901 | $2,362,877,021 | ||||
Net investment income not yet distributed | $27,905,265 | $22,957,023 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $16.43 | $19.17 | $18.22 | $14.52 | $13.15 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.31 1 | 0.29 1 | 0.27 | 0.32 | 0.27 | |
Net realized and unrealized gains (losses) | (0.29) | (0.21) | 2.16 | 3.70 | 1.38 | |
Total from investment operations | 0.02 | 0.08 | 2.43 | 4.02 | 1.65 | |
Less distributions: | ||||||
Distributions from net investment income | (0.32) | (0.27) | (0.29) | (0.32) | (0.28) | |
Distributions from net realized gains | (1.74) | (2.55) | (1.19) | — | — | |
Total distributions | (2.06) | (2.82) | (1.48) | (0.32) | (0.28) | |
Net asset value at end of period | $14.39 | $16.43 | $19.17 | $18.22 | $14.52 | |
Total return | 0.26% | 0.12% | 14.26% | 27.99% | 12.65% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.88% | 0.88% | 0.89% | 0.89% | 0.89% | |
Gross operating expenses | 0.89% | 0.88% | 0.89% | 0.89% | 0.89% | |
Net investment income (loss) | 2.18% | 1.71% | 1.47% | 1.97% | 1.89% | |
Portfolio turnover rate | 74% | 73% | 72% | 64% | 55% | |
Net assets, end of period (x 1,000,000) | $1,560 | $1,872 | $2,053 | $1,804 | $1,390 | |
Holdings by Category | Cost ($) | Value ($) | |
99.7% | Common Stock | 1,459,568,656 | 1,554,675,721 |
0.4% | Short-Term Investment | 5,891,825 | 5,891,825 |
100.1% | Total Investments | 1,465,460,481 | 1,560,567,546 |
(0.1%) | Other Assets and Liabilities, Net | (889,215) | |
100.0% | Net Assets | 1,559,678,331 |
Security | Number of Shares | Value ($) |
Common Stock 99.7% of net assets | ||
Automobiles & Components 2.7% | ||
Ford Motor Co. | 1,097,107 | 12,880,036 |
Lear Corp. | 241,865 | 29,696,185 |
42,576,221 | ||
Banks 10.1% | ||
Bank of America Corp. | 1,315,859 | 21,711,674 |
Citigroup, Inc. | 1,078,791 | 53,022,578 |
Citizens Financial Group, Inc. | 639,658 | 16,848,592 |
Huntington Bancshares, Inc. | 430,000 | 4,558,000 |
JPMorgan Chase & Co. | 229,467 | 15,892,884 |
MGIC Investment Corp. * | 361,317 | 2,948,347 |
Regions Financial Corp. | 1,215,565 | 13,018,701 |
TCF Financial Corp. | 753,209 | 10,770,889 |
Wells Fargo & Co. | 352,030 | 16,196,900 |
Zions Bancorp | 67,897 | 2,186,962 |
157,155,527 | ||
Capital Goods 9.1% | ||
Allison Transmission Holdings, Inc. | 651,751 | 19,089,787 |
BWX Technologies, Inc. | 68,744 | 2,696,140 |
Carlisle Cos., Inc. | 262,178 | 27,489,363 |
Chicago Bridge & Iron Co., N.V. | 224,322 | 7,182,790 |
EMCOR Group, Inc. | 16,973 | 1,026,188 |
General Electric Co. | 169,522 | 4,933,090 |
Huntington Ingalls Industries, Inc. | 116,177 | 18,746,321 |
Illinois Tool Works, Inc. | 10,008 | 1,136,608 |
KBR, Inc. | 865,849 | 12,823,224 |
L-3 Communications Holdings, Inc. | 5,520 | 755,909 |
Northrop Grumman Corp. | 57,097 | 13,075,213 |
PACCAR, Inc. | 14,865 | 816,386 |
Raytheon Co. | 81,874 | 11,184,807 |
Stanley Black & Decker, Inc. | 179,093 | 20,387,947 |
The Timken Co. | 42,837 | 1,415,763 |
142,759,536 | ||
Commercial & Professional Supplies 0.9% | ||
LSC Communications, Inc. * | 163,391 | 3,960,598 |
ManpowerGroup, Inc. | 24,020 | 1,844,736 |
RR Donnelley & Sons Co. | 435,709 | 7,733,835 |
13,539,169 | ||
Security | Number of Shares | Value ($) |
Consumer Durables & Apparel 0.2% | ||
Whirlpool Corp. | 20,877 | 3,127,792 |
Consumer Services 0.6% | ||
Darden Restaurants, Inc. | 138,091 | 8,946,916 |
International Game Technology plc | 43,937 | 1,261,871 |
10,208,787 | ||
Diversified Financials 7.6% | ||
Ally Financial, Inc. | 778,164 | 14,061,423 |
Berkshire Hathaway, Inc., Class B * | 70,364 | 10,153,525 |
Capital One Financial Corp. | 232,637 | 17,224,444 |
Discover Financial Services | 337,305 | 19,000,391 |
Federated Investors, Inc., Class B | 206,589 | 5,577,903 |
Interactive Brokers Group, Inc., Class A | 230,639 | 7,654,908 |
Morgan Stanley | 102,621 | 3,444,987 |
MSCI, Inc. | 73,895 | 5,925,640 |
The Bank of New York Mellon Corp. | 144,429 | 6,249,443 |
Thomson Reuters Corp. | 46,041 | 1,814,476 |
Voya Financial, Inc. | 898,634 | 27,453,269 |
118,560,409 | ||
Energy 13.0% | ||
Apache Corp. | 130,218 | 7,745,367 |
Baker Hughes, Inc. | 371,984 | 20,607,914 |
Chevron Corp. | 268,016 | 28,074,676 |
ConocoPhillips | 389,525 | 16,924,861 |
Exxon Mobil Corp. | 625,643 | 52,128,575 |
Noble Corp. plc | 983,942 | 4,860,673 |
Occidental Petroleum Corp. | 188,664 | 13,755,492 |
Oceaneering International, Inc. | 79,729 | 1,897,550 |
Patterson-UTI Energy, Inc. | 342,284 | 7,694,544 |
Rowan Cos. plc, Class A | 743,424 | 9,865,236 |
Tesoro Corp. | 84,335 | 7,165,945 |
Valero Energy Corp. | 415,307 | 24,602,787 |
World Fuel Services Corp. | 170,079 | 6,845,680 |
202,169,300 | ||
Food & Staples Retailing 1.7% | ||
Wal-Mart Stores, Inc. | 388,222 | 27,183,304 |
Food, Beverage & Tobacco 4.2% | ||
Dr Pepper Snapple Group, Inc. | 178,495 | 15,670,076 |
PepsiCo, Inc. | 276,467 | 29,637,262 |
The JM Smucker Co. | 61,945 | 8,133,998 |
Tyson Foods, Inc., Class A | 175,513 | 12,435,096 |
65,876,432 | ||
Health Care Equipment & Services 5.6% | ||
Allscripts Healthcare Solutions, Inc. * | 740,376 | 8,891,916 |
Becton, Dickinson & Co. | 163,389 | 27,434,647 |
Boston Scientific Corp. * | 403,972 | 8,887,384 |
Cardinal Health, Inc. | 230,054 | 15,802,409 |
Security | Number of Shares | Value ($) |
Hill-Rom Holdings, Inc. | 43,487 | 2,409,614 |
Hologic, Inc. * | 266,634 | 9,601,490 |
IDEXX Laboratories, Inc. * | 21,699 | 2,324,831 |
McKesson Corp. | 34,769 | 4,421,574 |
ResMed, Inc. | 48,535 | 2,900,937 |
UnitedHealth Group, Inc. | 32,460 | 4,587,572 |
87,262,374 | ||
Household & Personal Products 1.6% | ||
Energizer Holdings, Inc. | 33,689 | 1,566,875 |
Spectrum Brands Holdings, Inc. | 130,253 | 17,615,416 |
The Procter & Gamble Co. | 69,462 | 6,029,302 |
25,211,593 | ||
Insurance 6.4% | ||
Aflac, Inc. | 8,330 | 573,687 |
American Financial Group, Inc. | 15,905 | 1,184,923 |
Aspen Insurance Holdings Ltd. | 268,030 | 12,932,447 |
CNA Financial Corp. | 48,584 | 1,776,717 |
Everest Re Group Ltd. | 49,419 | 10,057,755 |
Loews Corp. | 188,686 | 8,119,159 |
Reinsurance Group of America, Inc. | 203,248 | 21,922,329 |
The Allstate Corp. | 178,955 | 12,151,044 |
The Travelers Cos., Inc. | 252,276 | 27,291,218 |
Unum Group | 101,328 | 3,587,011 |
99,596,290 | ||
Materials 3.6% | ||
Axalta Coating Systems Ltd. * | 158,027 | 3,969,638 |
Berry Plastics Group, Inc. * | 143,442 | 6,275,588 |
Cabot Corp. | 233,517 | 12,175,576 |
Celanese Corp., Series A | 38,599 | 2,814,639 |
International Paper Co. | 100,798 | 4,538,934 |
RPM International, Inc. | 160,649 | 7,637,253 |
Steel Dynamics, Inc. | 548,951 | 15,074,195 |
The Sherwin-Williams Co. | 17,076 | 4,181,229 |
56,667,052 | ||
Media 0.3% | ||
AMC Networks, Inc., Class A * | 66,394 | 3,248,658 |
Live Nation Entertainment, Inc. * | 41,830 | 1,157,436 |
4,406,094 | ||
Pharmaceuticals, Biotechnology & Life Sciences 5.8% | ||
Amgen, Inc. | 72,318 | 10,208,409 |
Johnson & Johnson | 113,723 | 13,190,731 |
Merck & Co., Inc. | 433,226 | 25,439,031 |
Pfizer, Inc. | 1,294,412 | 41,045,804 |
89,883,975 | ||
Real Estate 5.3% | ||
Apartment Investment & Management Co., Class A | 97,914 | 4,315,070 |
CBL & Associates Properties, Inc. | 662,607 | 7,089,895 |
Corporate Office Properties Trust | 185,718 | 4,956,813 |
Empire State Realty Trust, Inc., Class A | 277,003 | 5,420,949 |
Equity LifeStyle Properties, Inc. | 208,157 | 15,786,627 |
Outfront Media, Inc. | 31,996 | 688,234 |
Retail Properties of America, Inc., Class A | 1,128,328 | 17,568,067 |
Security | Number of Shares | Value ($) |
Senior Housing Properties Trust | 272,117 | 5,787,929 |
SL Green Realty Corp. | 207,519 | 20,382,516 |
81,996,100 | ||
Retailing 1.7% | ||
American Eagle Outfitters, Inc. | 125,832 | 2,144,177 |
Best Buy Co., Inc. | 381,262 | 14,834,905 |
Kohl's Corp. | 108,256 | 4,736,200 |
Lowe's Cos., Inc. | 72,280 | 4,817,462 |
26,532,744 | ||
Semiconductors & Semiconductor Equipment 2.8% | ||
Intel Corp. | 948,824 | 33,085,493 |
Maxim Integrated Products, Inc. | 156,202 | 6,190,285 |
QUALCOMM, Inc. | 64,544 | 4,435,464 |
43,711,242 | ||
Software & Services 2.7% | ||
Alphabet, Inc., Class A * | 10,436 | 8,452,116 |
Citrix Systems, Inc. * | 56,837 | 4,819,778 |
eBay, Inc. * | 189,451 | 5,401,248 |
Nuance Communications, Inc. * | 965,001 | 13,529,314 |
Synopsys, Inc. * | 61,780 | 3,664,172 |
Take-Two Interactive Software, Inc. * | 71,583 | 3,177,569 |
Xerox Corp. | 258,734 | 2,527,831 |
41,572,028 | ||
Technology Hardware & Equipment 3.1% | ||
Arrow Electronics, Inc. * | 29,595 | 1,808,846 |
Cisco Systems, Inc. | 378,739 | 11,619,713 |
HP, Inc. | 1,753,086 | 25,402,216 |
Jabil Circuit, Inc. | 71,650 | 1,529,011 |
NCR Corp. * | 186,696 | 6,543,695 |
SYNNEX Corp. | 8,209 | 841,751 |
47,745,232 | ||
Telecommunication Services 2.2% | ||
AT&T, Inc. | 890,378 | 32,757,007 |
T-Mobile US, Inc. * | 10,387 | 516,545 |
Telephone & Data Systems, Inc. | 49,804 | 1,286,935 |
34,560,487 | ||
Transportation 0.7% | ||
Expeditors International of Washington, Inc. | 64,843 | 3,337,469 |
FedEx Corp. | 27,264 | 4,752,660 |
JetBlue Airways Corp. * | 133,687 | 2,336,849 |
10,426,978 | ||
Utilities 7.8% | ||
CenterPoint Energy, Inc. | 1,285,364 | 29,306,299 |
Entergy Corp. | 397,934 | 29,319,777 |
FirstEnergy Corp. | 876,081 | 30,040,818 |
UGI Corp. | 680,452 | 31,498,123 |
Xcel Energy, Inc. | 42,889 | 1,782,038 |
121,947,055 | ||
Total Common Stock | ||
(Cost $1,459,568,656) | 1,554,675,721 |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.4% of net assets | ||
Time Deposit 0.4% | ||
Sumitomo Mitsui Banking Corp. | ||
0.15%, 11/01/16 (a) | 5,891,825 | 5,891,825 |
Total Short-Term Investment | ||
(Cost $5,891,825) | 5,891,825 |
* | Non-income producing security. |
(a) | The rate shown is the current daily overnight rate. |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
S&P 500 Index, e-mini, Long, expires 12/16/16 | 45 | 4,770,225 | (65,112) |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Common Stock1 | $1,554,675,721 | $— | $— | $1,554,675,721 | |
Short-Term Investment1 | — | 5,891,825 | — | 5,891,825 | |
Total | $1,554,675,721 | $5,891,825 | $— | $1,560,567,546 | |
Liabilities Valuation Input | |||||
Other Financial Instruments | |||||
Futures Contracts2 | ($65,112) | $— | $— | ($65,112) |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of Portfolio Holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments, at value (cost $1,465,460,481) | $1,560,567,546 | |
Deposit with broker for futures contracts | 202,500 | |
Receivables: | ||
Dividends | 1,301,018 | |
Fund shares sold | 468,904 | |
Interest | 25 | |
Prepaid expenses | + | 20,800 |
Total assets | 1,562,560,793 | |
Liabilities | ||
Payables: | ||
Investment adviser and administrator fees | 831,986 | |
Shareholder service fees | 329,684 | |
Fund shares redeemed | 1,625,335 | |
Variation margin on futures contracts | 8,325 | |
Accrued expenses | + | 87,132 |
Total liabilities | 2,882,462 | |
Net Assets | ||
Total assets | 1,562,560,793 | |
Total liabilities | – | 2,882,462 |
Net assets | $1,559,678,331 | |
Net Assets by Source | ||
Capital received from investors | 1,472,380,749 | |
Net investment income not yet distributed | 1,273,539 | |
Net realized capital losses | (9,017,910) | |
Net unrealized capital appreciation | 95,041,953 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$1,559,678,331 | 108,349,853 | $14.39 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $1,467) | $51,352,393 | |
Interest | + | 7,689 |
Total investment income | 51,360,082 | |
Expenses | ||
Investment adviser and administrator fees | 10,403,635 | |
Shareholder service fees | 4,093,569 | |
Shareholder reports | 88,412 | |
Portfolio accounting fees | 60,877 | |
Custodian fees | 40,123 | |
Professional fees | 40,114 | |
Proxy fees | 36,526 | |
Transfer agent fees | 33,940 | |
Registration fees | 32,348 | |
Independent trustees' fees | 18,081 | |
Interest expense | 1,479 | |
Other expenses | + | 25,146 |
Total expenses | 14,874,250 | |
Expense reduction by CSIM and its affiliates | – | 33,940 |
Net expenses | – | 14,840,310 |
Net investment income | 36,519,772 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments | (10,161,536) | |
Net realized gains on futures contracts | + | 607,854 |
Net realized losses | (9,553,682) | |
Net change in unrealized appreciation (depreciation) on investments | (25,307,648) | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (546,839) |
Net change in unrealized appreciation (depreciation) | + | (25,854,487) |
Net realized and unrealized losses | (35,408,169) | |
Increase in net assets resulting from operations | $1,111,603 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $36,519,772 | $33,911,486 | ||
Net realized gains (losses) | (9,553,682) | 194,016,375 | ||
Net change in unrealized appreciation (depreciation) | + | (25,854,487) | (221,097,083) | |
Increase in net assets from operations | 1,111,603 | 6,830,778 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (35,938,370) | (31,258,036) | ||
Distributions from net realized gains | + | (195,568,378) | (272,348,613) | |
Total distributions | ($231,506,748) | ($303,606,649) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 8,869,700 | $124,506,020 | 14,692,885 | $248,859,127 | ||||
Shares reinvested | 11,191,095 | 160,580,768 | 12,419,993 | 210,709,144 | ||||
Shares redeemed | + | (25,625,568) | (366,896,176) | (20,322,510) | (344,140,463) | |||
Net transactions in fund shares | (5,564,773) | ($81,809,388) | 6,790,368 | $115,427,808 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 113,914,626 | $1,871,882,864 | 107,124,258 | $2,053,230,927 | ||||
Total increase or decrease | + | (5,564,773) | (312,204,533) | 6,790,368 | (181,348,063) | |||
End of period | 108,349,853 | $1,559,678,331 | 113,914,626 | $1,871,882,864 | ||||
Net investment income not yet distributed | $1,273,539 | $587,212 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $17.68 | $18.38 | $15.66 | $12.48 | $11.18 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.20 1 | 0.13 1 | 0.11 | 0.14 | 0.07 | |
Net realized and unrealized gains (losses) | (0.12) | 1.08 | 2.70 | 3.17 | 1.29 | |
Total from investment operations | 0.08 | 1.21 | 2.81 | 3.31 | 1.36 | |
Less distributions: | ||||||
Distributions from net investment income | (0.20) | (0.09) | (0.09) | (0.13) | (0.06) | |
Distributions from net realized gains | (2.36) | (1.82) | — | — | — | |
Total distributions | (2.56) | (1.91) | (0.09) | (0.13) | (0.06) | |
Net asset value at end of period | $15.20 | $17.68 | $18.38 | $15.66 | $12.48 | |
Total return | 0.54% | 7.00% | 18.06% | 26.76% | 12.18% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 1.00% 2 | 0.99% | 0.99% | 0.99% | 0.99% | |
Gross operating expenses | 1.04% | 1.03% | 1.04% | 1.05% | 1.05% | |
Net investment income (loss) | 1.32% | 0.75% | 0.60% | 1.00% | 0.53% | |
Portfolio turnover rate | 84% | 90% | 82% | 87% | 79% | |
Net assets, end of period (x 1,000,000) | $219 | $251 | $256 | $253 | $217 | |
Holdings by Category | Cost ($) | Value ($) | |
99.7% | Common Stock | 196,331,336 | 218,153,913 |
0.4% | Short-Term Investment | 900,426 | 900,426 |
100.1% | Total Investments | 197,231,762 | 219,054,339 |
(0.1%) | Other Assets and Liabilities, Net | (134,531) | |
100.0% | Net Assets | 218,919,808 |
Security | Number of Shares | Value ($) |
Common Stock 99.7% of net assets | ||
Automobiles & Components 2.0% | ||
Lear Corp. | 34,978 | 4,294,599 |
Banks 0.6% | ||
Citigroup, Inc. | 14,625 | 718,819 |
MGIC Investment Corp. * | 24,964 | 203,706 |
Radian Group, Inc. | 20,507 | 278,690 |
1,201,215 | ||
Capital Goods 7.1% | ||
AECOM * | 7,793 | 217,035 |
Allison Transmission Holdings, Inc. | 92,360 | 2,705,224 |
BWX Technologies, Inc. | 15,233 | 597,438 |
Carlisle Cos., Inc. | 39,403 | 4,131,405 |
Curtiss-Wright Corp. | 5,057 | 453,208 |
EMCOR Group, Inc. | 23,944 | 1,447,654 |
Huntington Ingalls Industries, Inc. | 6,382 | 1,029,800 |
Owens Corning | 44,611 | 2,176,125 |
PACCAR, Inc. | 20,000 | 1,098,400 |
Raytheon Co. | 5,307 | 724,989 |
Stanley Black & Decker, Inc. | 9,015 | 1,026,268 |
15,607,546 | ||
Commercial & Professional Supplies 1.0% | ||
ManpowerGroup, Inc. | 15,348 | 1,178,726 |
RR Donnelley & Sons Co. | 59,133 | 1,049,611 |
2,228,337 | ||
Consumer Durables & Apparel 1.2% | ||
Brunswick Corp. | 3,627 | 157,775 |
Michael Kors Holdings Ltd. * | 48,135 | 2,444,295 |
2,602,070 | ||
Consumer Services 4.0% | ||
Aramark | 19,281 | 717,832 |
Darden Restaurants, Inc. | 57,752 | 3,741,752 |
International Game Technology plc | 54,378 | 1,561,736 |
Vail Resorts, Inc. | 11,503 | 1,834,039 |
Yum! Brands, Inc. | 11,069 | 955,033 |
8,810,392 | ||
Security | Number of Shares | Value ($) |
Diversified Financials 0.8% | ||
Federated Investors, Inc., Class B | 18,188 | 491,076 |
Interactive Brokers Group, Inc., Class A | 26,663 | 884,945 |
MSCI, Inc. | 5,386 | 431,903 |
1,807,924 | ||
Food & Staples Retailing 2.5% | ||
Sysco Corp. | 33,162 | 1,595,755 |
Wal-Mart Stores, Inc. | 55,599 | 3,893,042 |
5,488,797 | ||
Food, Beverage & Tobacco 6.7% | ||
Altria Group, Inc. | 22,964 | 1,518,380 |
B&G Foods, Inc. | 20,808 | 882,259 |
Dr Pepper Snapple Group, Inc. | 33,774 | 2,965,019 |
PepsiCo, Inc. | 64,221 | 6,884,491 |
Post Holdings, Inc. * | 2,528 | 192,709 |
The JM Smucker Co. | 2,780 | 365,042 |
Tyson Foods, Inc., Class A | 24,896 | 1,763,882 |
14,571,782 | ||
Health Care Equipment & Services 6.4% | ||
Allscripts Healthcare Solutions, Inc. * | 154,824 | 1,859,436 |
Becton, Dickinson & Co. | 14,564 | 2,445,441 |
Boston Scientific Corp. * | 58,858 | 1,294,876 |
Cardinal Health, Inc. | 18,204 | 1,250,433 |
Hologic, Inc. * | 57,969 | 2,087,464 |
IDEXX Laboratories, Inc. * | 10,240 | 1,097,114 |
McKesson Corp. | 6,473 | 823,171 |
Teleflex, Inc. | 3,520 | 503,818 |
UnitedHealth Group, Inc. | 7,980 | 1,127,813 |
WellCare Health Plans, Inc. * | 12,422 | 1,410,021 |
13,899,587 | ||
Household & Personal Products 0.7% | ||
Spectrum Brands Holdings, Inc. | 11,168 | 1,510,360 |
Insurance 2.5% | ||
American Financial Group, Inc. | 18,164 | 1,353,218 |
Everest Re Group Ltd. | 5,841 | 1,188,760 |
Loews Corp. | 6,695 | 288,086 |
Reinsurance Group of America, Inc. | 12,017 | 1,296,154 |
The Allstate Corp. | 8,851 | 600,983 |
The Travelers Cos., Inc. | 6,801 | 735,732 |
5,462,933 | ||
Materials 2.7% | ||
Axalta Coating Systems Ltd. * | 11,989 | 301,164 |
Berry Plastics Group, Inc. * | 45,252 | 1,979,775 |
Security | Number of Shares | Value ($) |
Cabot Corp. | 56,914 | 2,967,496 |
The Sherwin-Williams Co. | 2,814 | 689,036 |
5,937,471 | ||
Media 4.8% | ||
AMC Networks, Inc., Class A * | 17,460 | 854,318 |
Comcast Corp., Class A | 90,249 | 5,579,193 |
Live Nation Entertainment, Inc. * | 114,399 | 3,165,420 |
Omnicom Group, Inc. | 10,597 | 845,853 |
10,444,784 | ||
Pharmaceuticals, Biotechnology & Life Sciences 10.5% | ||
AbbVie, Inc. | 64,331 | 3,588,383 |
Amgen, Inc. | 31,692 | 4,473,643 |
Biogen, Inc. * | 7,358 | 2,061,565 |
Bruker Corp. | 47,594 | 975,201 |
Charles River Laboratories International, Inc. * | 3,553 | 269,602 |
Johnson & Johnson | 14,586 | 1,691,830 |
Merck & Co., Inc. | 57,281 | 3,363,540 |
Pfizer, Inc. | 117,376 | 3,721,993 |
Thermo Fisher Scientific, Inc. | 15,932 | 2,342,482 |
VWR Corp. * | 21,744 | 598,177 |
23,086,416 | ||
Real Estate 2.8% | ||
Apartment Investment & Management Co., Class A | 22,010 | 969,981 |
Empire State Realty Trust, Inc., Class A | 18,208 | 356,331 |
Equity LifeStyle Properties, Inc. | 15,674 | 1,188,716 |
Retail Properties of America, Inc., Class A | 117,951 | 1,836,497 |
SL Green Realty Corp. | 17,351 | 1,704,215 |
6,055,740 | ||
Retailing 7.8% | ||
Amazon.com, Inc. * | 10,598 | 8,370,512 |
Best Buy Co., Inc. | 48,368 | 1,881,999 |
J.C. Penney Co., Inc. * | 11,714 | 100,623 |
Kohl's Corp. | 7,629 | 333,769 |
Lowe's Cos., Inc. | 55,461 | 3,696,476 |
The Home Depot, Inc. | 21,393 | 2,610,160 |
16,993,539 | ||
Semiconductors & Semiconductor Equipment 1.5% | ||
Intel Corp. | 34,317 | 1,196,634 |
Lam Research Corp. | 4,655 | 450,883 |
Maxim Integrated Products, Inc. | 43,908 | 1,740,074 |
3,387,591 | ||
Software & Services 22.2% | ||
Accenture plc, Class A | 7,622 | 885,981 |
Alphabet, Inc., Class A * | 12,246 | 9,918,036 |
Check Point Software Technologies Ltd. * | 25,248 | 2,134,971 |
Citrix Systems, Inc. * | 16,348 | 1,386,310 |
CoreLogic, Inc. * | 67,527 | 2,873,949 |
eBay, Inc. * | 22,912 | 653,221 |
Facebook, Inc., Class A * | 39,809 | 5,214,581 |
First Data Corp., Class A * | 73,831 | 1,032,896 |
GoDaddy, Inc., Class A * | 43,967 | 1,573,579 |
International Business Machines Corp. | 20,155 | 3,097,622 |
Microsoft Corp. | 131,248 | 7,864,380 |
Nuance Communications, Inc. * | 176,449 | 2,473,815 |
Security | Number of Shares | Value ($) |
Synopsys, Inc. * | 7,624 | 452,180 |
Teradata Corp. * | 90,724 | 2,445,919 |
The Western Union Co. | 66,652 | 1,337,706 |
Vantiv, Inc., Class A * | 72,445 | 4,227,890 |
Xerox Corp. | 115,820 | 1,131,561 |
48,704,597 | ||
Technology Hardware & Equipment 8.5% | ||
Apple, Inc. | 89,899 | 10,207,132 |
Arrow Electronics, Inc. * | 12,681 | 775,063 |
Cisco Systems, Inc. | 31,956 | 980,410 |
CommScope Holding Co., Inc. * | 38,070 | 1,163,038 |
F5 Networks, Inc. * | 10,539 | 1,456,595 |
HP, Inc. | 68,726 | 995,840 |
NCR Corp. * | 69,493 | 2,435,730 |
SYNNEX Corp. | 4,748 | 486,860 |
18,500,668 | ||
Telecommunication Services 1.3% | ||
AT&T, Inc. | 11,581 | 426,065 |
T-Mobile US, Inc. * | 49,758 | 2,474,465 |
2,900,530 | ||
Transportation 0.9% | ||
FedEx Corp. | 7,673 | 1,337,557 |
JetBlue Airways Corp. * | 37,618 | 657,563 |
1,995,120 | ||
Utilities 1.2% | ||
CenterPoint Energy, Inc. | 9,862 | 224,854 |
FirstEnergy Corp. | 40,559 | 1,390,768 |
UGI Corp. | 22,603 | 1,046,293 |
2,661,915 | ||
Total Common Stock | ||
(Cost $196,331,336) | 218,153,913 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.4% of net assets | ||
Time Deposit 0.4% | ||
Sumitomo Mitsui Banking Corp. | ||
0.15%, 11/01/16 (a) | 900,426 | 900,426 |
Total Short-Term Investment | ||
(Cost $900,426) | 900,426 |
* | Non-income producing security. |
(a) | The rate shown is the current daily overnight rate. |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
S&P 500 Index, e-mini, Long, expires 12/16/16 | 4 | 424,020 | 814 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Common Stock1 | $218,153,913 | $— | $— | $218,153,913 | |
Short-Term Investment1 | — | 900,426 | — | 900,426 | |
Total | $218,153,913 | $900,426 | $— | $219,054,339 | |
Other Financial Instruments | |||||
Futures Contracts2 | $814 | $— | $— | $814 |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of Portfolio Holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments, at value (cost $197,231,762) | $219,054,339 | |
Deposit with broker for futures contracts | 40,500 | |
Receivables: | ||
Fund shares sold | 227,044 | |
Dividends | 119,726 | |
Prepaid expenses | + | 12,082 |
Total assets | 219,453,691 | |
Liabilities | ||
Payables: | ||
Investment adviser and administrator fees | 136,187 | |
Shareholder service fees | 46,093 | |
Fund shares redeemed | 301,032 | |
Variation margin on futures contracts | 1,512 | |
Accrued expenses | + | 49,059 |
Total liabilities | 533,883 | |
Net Assets | ||
Total assets | 219,453,691 | |
Total liabilities | – | 533,883 |
Net assets | $218,919,808 | |
Net Assets by Source | ||
Capital received from investors | 188,024,110 | |
Net investment income not yet distributed | 1,950,703 | |
Net realized capital gains | 7,121,604 | |
Net unrealized capital appreciation | 21,823,391 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$218,919,808 | 14,405,609 | $15.20 | ||
Investment Income | ||
Dividends | $5,236,976 | |
Interest | 1,252 | |
Securities on loan | + | 40,055 |
Total investment income | 5,278,283 | |
Expenses | ||
Investment adviser and administrator fees | 1,637,344 | |
Shareholder service fees | 554,030 | |
Portfolio accounting fees | 38,379 | |
Professional fees | 35,767 | |
Shareholder reports | 30,789 | |
Registration fees | 23,067 | |
Transfer agent fees | 17,090 | |
Proxy fees | 13,836 | |
Custodian fees | 11,312 | |
Independent trustees' fees | 9,312 | |
Interest expense | 203 | |
Other expenses | + | 3,317 |
Total expenses | 2,374,446 | |
Expense reduction by CSIM and its affiliates | – | 109,059 |
Net expenses | – | 2,265,387 |
Net investment income | 3,012,896 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 7,361,291 | |
Net realized losses on futures contracts | + | (82,836) |
Net realized gains | 7,278,455 | |
Net change in unrealized appreciation (depreciation) on investments | (9,527,674) | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (60,946) |
Net change in unrealized appreciation (depreciation) | + | (9,588,620) |
Net realized and unrealized losses | (2,310,165) | |
Increase in net assets resulting from operations | $702,731 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $3,012,896 | $1,929,006 | ||
Net realized gains | 7,278,455 | 32,941,638 | ||
Net change in unrealized appreciation (depreciation) | + | (9,588,620) | (17,462,462) | |
Increase in net assets from operations | 702,731 | 17,408,182 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (2,760,714) | (1,230,983) | ||
Distributions from net realized gains | + | (33,117,333) | (25,103,219) | |
Total distributions | ($35,878,047) | ($26,334,202) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 1,470,303 | $21,865,357 | 1,525,412 | $26,545,521 | ||||
Shares reinvested | 1,409,350 | 21,238,901 | 883,607 | 14,985,971 | ||||
Shares redeemed | + | (2,663,649) | (39,879,178) | (2,147,036) | (37,713,740) | |||
Net transactions in fund shares | 216,004 | $3,225,080 | 261,983 | $3,817,752 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 14,189,605 | $250,870,044 | 13,927,622 | $255,978,312 | ||||
Total increase or decrease | + | 216,004 | (31,950,236) | 261,983 | (5,108,268) | |||
End of period | 14,405,609 | $218,919,808 | 14,189,605 | $250,870,044 | ||||
Net investment income not yet distributed | $1,950,703 | $1,586,062 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $21.19 | $25.11 | $24.87 | $17.72 | $15.61 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.07 1 | 0.05 1 | (0.02) | 0.09 | 0.02 | |
Net realized and unrealized gains (losses) | 0.12 | 0.63 | 2.71 | 7.16 | 2.10 | |
Total from investment operations | 0.19 | 0.68 | 2.69 | 7.25 | 2.12 | |
Less distributions: | ||||||
Distributions from net investment income | (0.04) | (0.02) | (0.07) | (0.10) | (0.01) | |
Distributions from net realized gains | (2.53) | (4.58) | (2.38) | — | — | |
Total distributions | (2.57) | (4.60) | (2.45) | (0.10) | (0.01) | |
Net asset value at end of period | $18.81 | $21.19 | $25.11 | $24.87 | $17.72 | |
Total return | 1.47% | 3.01% | 11.67% | 41.10% | 13.57% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 1.09% | 1.09% | 1.10% | 1.10% | 1.12% | |
Gross operating expenses | 1.10% | 1.09% | 1.10% | 1.11% | 1.12% | |
Net investment income (loss) | 0.37% | 0.22% | (0.10%) | 0.42% | 0.11% | |
Portfolio turnover rate | 85% | 95% | 103% | 84% | 101% | |
Net assets, end of period (x 1,000,000) | $571 | $630 | $666 | $590 | $388 | |
Holdings by Category | Cost ($) | Value ($) | |
99.0% | Common Stock | 536,090,371 | 565,926,475 |
1.3% | Other Investment Company | 7,179,826 | 7,179,826 |
1.0% | Short-Term Investment | 5,526,429 | 5,526,429 |
101.3% | Total Investments | 548,796,626 | 578,632,730 |
(1.3%) | Other Assets and Liabilities, Net | (7,174,480) | |
100.0% | Net Assets | 571,458,250 |
Security | Number of Shares | Value ($) |
Common Stock 99.0% of net assets | ||
Automobiles & Components 2.3% | ||
American Axle & Manufacturing Holdings, Inc. * | 125,437 | 2,247,831 |
Cooper-Standard Holding, Inc. * | 43,185 | 3,941,495 |
Dana, Inc. | 67,485 | 1,044,668 |
Tenneco, Inc. * | 111,061 | 6,116,129 |
13,350,123 | ||
Banks 11.4% | ||
1st Source Corp. | 35,101 | 1,213,091 |
BancFirst Corp. | 13,210 | 947,157 |
BancorpSouth, Inc. | 13,090 | 307,615 |
Boston Private Financial Holdings, Inc. | 19,833 | 260,804 |
Central Pacific Financial Corp. | 7,126 | 182,639 |
Central Valley Community Bancorp | 14,736 | 211,020 |
Community Bank System, Inc. | 6,481 | 305,320 |
Community Trust Bancorp, Inc. | 4,493 | 164,219 |
Essent Group Ltd. * | 140,864 | 3,724,444 |
Farmers Capital Bank Corp. | 2,672 | 83,901 |
Federal Agricultural Mortgage Corp., Class C | 106,664 | 4,355,091 |
Financial Institutions, Inc. | 5,385 | 144,587 |
First Bancorp (North Carolina) | 14,300 | 282,711 |
First BanCorp (Puerto Rico) * | 947,826 | 4,862,347 |
First Citizens BancShares, Inc., Class A | 4,287 | 1,247,517 |
First Community Bancshares, Inc. | 27,051 | 612,705 |
First Defiance Financial Corp. | 1,656 | 65,379 |
First Financial Corp. | 46,213 | 1,853,141 |
First Interstate BancSystem, Inc., Class A | 28,960 | 923,824 |
First Midwest Bancorp, Inc. | 24,557 | 474,196 |
Flushing Financial Corp. | 8,167 | 174,937 |
Fulton Financial Corp. | 25,942 | 386,536 |
Great Southern Bancorp, Inc. | 5,287 | 218,617 |
Great Western Bancorp, Inc. | 64,627 | 2,083,574 |
Heartland Financial USA, Inc. | 27,247 | 1,020,400 |
Hilltop Holdings, Inc. * | 11,647 | 287,681 |
International Bancshares Corp. | 198,793 | 6,132,764 |
MGIC Investment Corp. * | 919,030 | 7,499,285 |
MidWestOne Financial Group, Inc. | 2,163 | 62,900 |
OFG Bancorp | 619,391 | 6,596,514 |
Peapack-Gladstone Financial Corp. | 6,545 | 138,427 |
Preferred Bank | 31,993 | 1,213,175 |
Radian Group, Inc. | 122,812 | 1,669,015 |
Republic Bancorp, Inc., Class A | 30,232 | 956,540 |
Security | Number of Shares | Value ($) |
Sterling Bancorp | 18,473 | 332,514 |
Synovus Financial Corp. | 33,960 | 1,123,057 |
TCF Financial Corp. | 484,954 | 6,934,842 |
TriState Capital Holdings, Inc. * | 21,600 | 381,240 |
Triumph Bancorp, Inc. * | 32,538 | 605,207 |
United Community Banks, Inc. | 187,305 | 4,040,169 |
Waterstone Financial, Inc. | 23,910 | 405,275 |
Westamerica Bancorp | 5,072 | 251,368 |
Wintrust Financial Corp. | 6,128 | 330,606 |
65,066,351 | ||
Capital Goods 6.8% | ||
Altra Industrial Motion Corp. | 20,400 | 601,800 |
BWX Technologies, Inc. | 102,949 | 4,037,660 |
Curtiss-Wright Corp. | 24,165 | 2,165,667 |
EMCOR Group, Inc. | 79,980 | 4,835,591 |
Global Brass & Copper Holdings, Inc. | 152,396 | 4,373,765 |
Kadant, Inc. | 20,540 | 1,060,891 |
Meritor, Inc. * | 210,226 | 2,161,123 |
Moog, Inc., Class A * | 54,330 | 3,154,943 |
NCI Building Systems, Inc. * | 62,774 | 903,946 |
Ply Gem Holdings, Inc. * | 194,496 | 2,664,595 |
Regal Beloit Corp. | 46,338 | 2,738,576 |
The Greenbrier Cos., Inc. (a) | 63,083 | 1,987,115 |
Vectrus, Inc. * | 253,431 | 4,250,038 |
Wabash National Corp. * | 333,153 | 3,747,971 |
38,683,681 | ||
Commercial & Professional Supplies 4.9% | ||
ARC Document Solutions, Inc. * | 30,710 | 105,335 |
Insperity, Inc. | 50,373 | 3,788,050 |
Kelly Services, Inc., Class A | 37,047 | 693,890 |
Knoll, Inc. | 26,036 | 563,419 |
Quad Graphics, Inc. | 259,396 | 6,163,249 |
The Brink's Co. | 204,459 | 8,086,354 |
TriNet Group, Inc. * | 331,694 | 6,225,896 |
TrueBlue, Inc. * | 135,111 | 2,364,443 |
27,990,636 | ||
Consumer Durables & Apparel 2.4% | ||
Culp, Inc. | 37,222 | 1,042,216 |
Installed Building Products, Inc. * | 97,777 | 3,231,530 |
JAKKS Pacific, Inc. *(a) | 296,510 | 1,986,617 |
Movado Group, Inc. | 90,469 | 1,994,841 |
Perry Ellis International, Inc. * | 112,646 | 2,094,089 |
Smith & Wesson Holding Corp. * | 134,566 | 3,556,579 |
Vera Bradley, Inc. * | 8,145 | 108,899 |
14,014,771 | ||
Consumer Services 4.2% | ||
BJ's Restaurants, Inc. * | 16,765 | 605,217 |
Bloomin' Brands, Inc. | 399,559 | 6,912,371 |
Brinker International, Inc. | 123,085 | 6,060,705 |
Capella Education Co. | 19,655 | 1,436,780 |
Carrols Restaurant Group, Inc. * | 100,190 | 1,252,375 |
Security | Number of Shares | Value ($) |
K12, Inc. * | 213,405 | 2,313,310 |
Red Rock Resorts, Inc., Class A | 115,489 | 2,529,209 |
Regis Corp. * | 57,435 | 728,276 |
Ruby Tuesday, Inc. * | 142,609 | 423,549 |
Strayer Education, Inc. * | 27,283 | 1,600,421 |
23,862,213 | ||
Diversified Financials 3.0% | ||
GAIN Capital Holdings, Inc. | 93,629 | 430,693 |
GAMCO Investors, Inc., Class A | 7,344 | 208,643 |
Interactive Brokers Group, Inc., Class A | 173,716 | 5,765,634 |
KCG Holdings, Inc., Class A * | 367,548 | 4,689,912 |
Marlin Business Services Corp. | 25,245 | 441,788 |
Regional Management Corp. * | 114,472 | 2,549,291 |
World Acceptance Corp. * | 61,901 | 2,941,536 |
17,027,497 | ||
Energy 3.6% | ||
Contango Oil & Gas Co. * | 23,718 | 185,712 |
EP Energy Corp., Class A *(a) | 81,763 | 291,076 |
Evolution Petroleum Corp. | 29,722 | 228,859 |
Matrix Service Co. * | 284,084 | 5,028,287 |
McDermott International, Inc. * | 1,027,549 | 5,281,602 |
Natural Gas Services Group, Inc. * | 18,205 | 395,049 |
Noble Corp. plc | 120,369 | 594,623 |
Overseas Shipholding Group, Inc., Class A | 77,316 | 677,288 |
Renewable Energy Group, Inc. * | 300,725 | 2,631,344 |
Rowan Cos. plc, Class A | 51,187 | 679,251 |
TETRA Technologies, Inc. * | 896,113 | 4,883,816 |
20,876,907 | ||
Food & Staples Retailing 0.4% | ||
SUPERVALU, Inc. * | 239,495 | 1,027,434 |
Village Super Market, Inc., Class A | 34,777 | 1,039,832 |
2,067,266 | ||
Food, Beverage & Tobacco 1.4% | ||
Dean Foods Co. | 419,873 | 7,666,881 |
Fresh Del Monte Produce, Inc. | 3,985 | 240,495 |
7,907,376 | ||
Health Care Equipment & Services 4.2% | ||
Accuray, Inc. * | 294,538 | 1,443,236 |
Allscripts Healthcare Solutions, Inc. * | 388,965 | 4,671,470 |
AngioDynamics, Inc. * | 48,761 | 777,250 |
Cantel Medical Corp. | 1,824 | 129,924 |
Civitas Solutions, Inc. * | 19,759 | 337,879 |
Cross Country Healthcare, Inc. * | 8,891 | 99,312 |
Cynosure, Inc., Class A * | 12,886 | 549,588 |
Exactech, Inc. * | 14,757 | 356,382 |
Haemonetics Corp. * | 57,245 | 1,912,555 |
Halyard Health, Inc. * | 16,644 | 538,433 |
HMS Holdings Corp. * | 23,892 | 503,404 |
Inogen, Inc. * | 4,054 | 217,578 |
LeMaitre Vascular, Inc. | 9,641 | 201,883 |
Merit Medical Systems, Inc. * | 43,568 | 956,318 |
Natus Medical, Inc. * | 8,718 | 343,053 |
NxStage Medical, Inc. * | 81,663 | 1,857,017 |
OraSure Technologies, Inc. * | 30,187 | 226,704 |
Orthofix International N.V. * | 83,629 | 3,065,003 |
Quality Systems, Inc. | 89,487 | 1,153,487 |
RadNet, Inc. * | 177,032 | 1,230,372 |
RTI Surgical, Inc. * | 131,300 | 334,815 |
Security | Number of Shares | Value ($) |
Surmodics, Inc. * | 39,915 | 993,884 |
Tenet Healthcare Corp. * | 83,981 | 1,655,266 |
Triple-S Management Corp., Class B * | 16,753 | 346,452 |
Utah Medical Products, Inc. | 1,991 | 123,741 |
24,025,006 | ||
Household & Personal Products 1.0% | ||
HRG Group, Inc. * | 236,155 | 3,551,771 |
Natural Health Trends Corp. (a) | 13,647 | 318,385 |
Nutraceutical International Corp. * | 4,270 | 122,976 |
Oil-Dri Corp. of America | 1,440 | 48,614 |
USANA Health Sciences, Inc. * | 13,528 | 1,738,348 |
5,780,094 | ||
Insurance 2.6% | ||
Ambac Financial Group, Inc. * | 108,500 | 2,001,825 |
American Equity Investment Life Holding Co. | 88,482 | 1,586,482 |
Aspen Insurance Holdings Ltd. | 64,803 | 3,126,745 |
Maiden Holdings Ltd. | 409,447 | 5,588,952 |
National Western Life Group, Inc., Class A | 12,433 | 2,678,068 |
14,982,072 | ||
Materials 4.5% | ||
AK Steel Holding Corp. * | 62,011 | 322,457 |
Chase Corp. | 8,200 | 560,470 |
Koppers Holdings, Inc. * | 185,109 | 6,062,320 |
Olympic Steel, Inc. | 20,447 | 472,121 |
OMNOVA Solutions, Inc. * | 339,999 | 2,583,992 |
Rayonier Advanced Materials, Inc. | 215,632 | 2,788,122 |
Real Industry, Inc. * | 29,645 | 158,601 |
Ryerson Holding Corp. * | 78,759 | 807,280 |
SunCoke Energy, Inc. | 165,121 | 1,685,885 |
Tredegar Corp. | 85,969 | 1,590,427 |
Trinseo S.A. | 88,584 | 4,646,231 |
Worthington Industries, Inc. | 84,485 | 3,970,795 |
25,648,701 | ||
Media 0.9% | ||
New Media Investment Group, Inc. | 133,488 | 1,922,227 |
Sinclair Broadcast Group, Inc., Class A | 119,708 | 3,004,671 |
4,926,898 | ||
Pharmaceuticals, Biotechnology & Life Sciences 12.0% | ||
Acorda Therapeutics, Inc. * | 164,582 | 2,913,101 |
AMAG Pharmaceuticals, Inc. * | 125,608 | 3,228,126 |
Amphastar Pharmaceuticals, Inc. * | 27,549 | 499,739 |
Aptevo Therapeutics, Inc. * | 110,588 | 244,399 |
BioSpecifics Technologies Corp. * | 36,710 | 1,592,847 |
Catalent, Inc. * | 200,161 | 4,565,672 |
Depomed, Inc. * | 77,740 | 1,738,266 |
Emergent BioSolutions, Inc. * | 221,176 | 5,909,823 |
Five Prime Therapeutics, Inc. * | 25,525 | 1,238,728 |
Genomic Health, Inc. * | 133,414 | 3,977,071 |
Geron Corp. *(a) | 45,839 | 84,802 |
Heska Corp. * | 8,326 | 411,304 |
Horizon Pharma plc * | 83,403 | 1,394,498 |
Impax Laboratories, Inc. * | 94,424 | 1,897,922 |
INC Research Holdings, Inc., Class A * | 102,324 | 4,676,207 |
Ironwood Pharmaceuticals, Inc. * | 114,867 | 1,466,852 |
Lexicon Pharmaceuticals, Inc. * | 31,861 | 472,499 |
Ligand Pharmaceuticals, Inc. * | 10,482 | 1,003,442 |
Myriad Genetics, Inc. * | 198,952 | 3,921,344 |
PAREXEL International Corp. * | 64,549 | 3,760,625 |
Security | Number of Shares | Value ($) |
PDL BioPharma, Inc. | 396,033 | 1,275,226 |
Phibro Animal Health Corp., Class A | 106,790 | 2,771,201 |
Prestige Brands Holdings, Inc. * | 132,500 | 5,999,600 |
Repligen Corp. * | 99,984 | 2,856,543 |
Retrophin, Inc. * | 18,006 | 339,413 |
SciClone Pharmaceuticals, Inc. * | 221,102 | 1,978,863 |
Spectrum Pharmaceuticals, Inc. * | 869,966 | 3,079,680 |
Sucampo Pharmaceuticals, Inc., Class A * | 117,155 | 1,335,567 |
Vanda Pharmaceuticals, Inc. * | 221,229 | 3,285,251 |
Xencor, Inc. * | 45,248 | 963,330 |
68,881,941 | ||
Real Estate 7.8% | ||
Alexander's, Inc. | 1,967 | 755,859 |
CBL & Associates Properties, Inc. | 254,671 | 2,724,980 |
CorEnergy Infrastructure Trust, Inc. | 52,968 | 1,434,373 |
Corporate Office Properties Trust | 106,991 | 2,855,590 |
EastGroup Properties, Inc. | 22,000 | 1,494,020 |
Empire State Realty Trust, Inc., Class A | 156,919 | 3,070,905 |
First Industrial Realty Trust, Inc. | 159,031 | 4,200,009 |
Mack-Cali Realty Corp. | 273,320 | 7,018,857 |
Monmouth Real Estate Investment Corp. | 17,445 | 238,473 |
New Senior Investment Group, Inc. | 375,236 | 3,909,959 |
NexPoint Residential Trust, Inc. | 15,159 | 282,564 |
PS Business Parks, Inc. | 1,810 | 198,720 |
RE/MAX Holdings, Inc., Class A | 130,685 | 5,678,263 |
Ryman Hospitality Properties, Inc. | 20,273 | 1,022,164 |
Saul Centers, Inc. | 55,635 | 3,364,805 |
Summit Hotel Properties, Inc. | 197,907 | 2,570,812 |
Washington Prime Group, Inc. | 341,569 | 3,583,059 |
44,403,412 | ||
Retailing 2.8% | ||
Chico's FAS, Inc. | 78,597 | 917,227 |
Francesca's Holdings Corp. * | 138,714 | 2,229,134 |
FTD Cos., Inc. * | 82,804 | 1,666,016 |
Genesco, Inc. * | 37,772 | 2,032,134 |
Kirkland's, Inc. * | 76,961 | 939,694 |
Nutrisystem, Inc. | 33,940 | 1,075,898 |
Rent-A-Center, Inc. | 423,372 | 4,271,823 |
Shutterfly, Inc. * | 29,922 | 1,466,178 |
The Children's Place, Inc. | 16,228 | 1,232,517 |
Tilly's, Inc., Class A * | 48,697 | 451,908 |
16,282,529 | ||
Semiconductors & Semiconductor Equipment 3.5% | ||
Advanced Energy Industries, Inc. * | 147,585 | 7,039,804 |
Amkor Technology, Inc. * | 109,340 | 1,013,582 |
IXYS Corp. | 107,621 | 1,140,783 |
MaxLinear, Inc., Class A * | 180,461 | 3,376,425 |
Photronics, Inc. * | 335,480 | 3,254,156 |
Tessera Technologies, Inc. | 111,031 | 4,119,250 |
19,944,000 | ||
Software & Services 9.4% | ||
Bottomline Technologies de, Inc. * | 14,365 | 325,942 |
Carbonite, Inc. * | 56,566 | 964,450 |
Cardtronics plc, Class A * | 91,169 | 4,558,450 |
Cimpress N.V. * | 5,905 | 491,591 |
Cornerstone OnDemand, Inc. * | 98,223 | 4,056,610 |
CSG Systems International, Inc. | 21,801 | 829,092 |
DHI Group, Inc. * | 400,649 | 2,283,699 |
EarthLink Holdings Corp. | 928,547 | 5,311,289 |
EVERTEC, Inc. | 353,741 | 5,359,176 |
Security | Number of Shares | Value ($) |
Exa Corp. * | 10,480 | 146,720 |
GoDaddy, Inc., Class A * | 140,077 | 5,013,356 |
Intralinks Holdings, Inc. * | 237,041 | 2,173,666 |
Lionbridge Technologies, Inc. * | 107,115 | 517,366 |
NeuStar, Inc., Class A * | 207,039 | 4,648,026 |
Progress Software Corp. * | 274,076 | 7,375,385 |
RealPage, Inc. * | 18,960 | 515,712 |
Synchronoss Technologies, Inc. * | 46,886 | 1,721,185 |
Take-Two Interactive Software, Inc. * | 43,260 | 1,920,311 |
Verint Systems, Inc. * | 13,116 | 472,176 |
Web.com Group, Inc. * | 269,618 | 4,340,850 |
Zix Corp. * | 214,133 | 871,521 |
53,896,573 | ||
Technology Hardware & Equipment 4.2% | ||
Anixter International, Inc. * | 9,521 | 626,006 |
Bel Fuse, Inc., Class B | 67,501 | 1,609,899 |
Black Box Corp. | 34,670 | 398,705 |
Eastman Kodak Co. * | 88,838 | 1,323,686 |
Extreme Networks, Inc. * | 668,345 | 2,813,732 |
Insight Enterprises, Inc. * | 215,880 | 6,215,185 |
Ixia * | 84,210 | 1,006,310 |
NETGEAR, Inc. * | 127,444 | 6,435,922 |
Sanmina Corp. * | 53,051 | 1,466,860 |
TTM Technologies, Inc. * | 178,805 | 2,351,286 |
24,247,591 | ||
Telecommunication Services 1.5% | ||
FairPoint Communications, Inc. * | 210,458 | 3,283,145 |
Hawaiian Telcom Holdco, Inc. * | 28,087 | 576,345 |
IDT Corp., Class B | 157,195 | 2,812,219 |
Spok Holdings, Inc. | 26,005 | 469,390 |
Windstream Holdings, Inc. (a) | 160,768 | 1,262,029 |
8,403,128 | ||
Transportation 1.5% | ||
Hawaiian Holdings, Inc. * | 87,127 | 3,922,893 |
Park-Ohio Holdings Corp. | 17,497 | 559,029 |
SkyWest, Inc. | 73,210 | 2,207,282 |
YRC Worldwide, Inc. * | 202,344 | 1,796,815 |
8,486,019 | ||
Utilities 2.7% | ||
Atlantic Power Corp. | 742,431 | 1,707,591 |
Consolidated Water Co., Ltd. | 16,109 | 180,421 |
NRG Yield, Inc., Class A | 149,237 | 2,198,261 |
Southwest Gas Corp. | 101,798 | 7,376,283 |
Spark Energy, Inc., Class A (a) | 153,270 | 3,709,134 |
15,171,690 | ||
Total Common Stock | ||
(Cost $536,090,371) | 565,926,475 | |
Other Investment Company 1.3% of net assets | ||
Securities Lending Collateral 1.3% | ||
Wells Fargo Government Money Market Fund, Select Class 0.32% (b) | 7,179,826 | 7,179,826 |
Total Other Investment Company | ||
(Cost $7,179,826) | 7,179,826 |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 1.0% of net assets | ||
Time Deposits 1.0% | ||
Sumitomo Mitsui Banking Corp. | ||
0.15%, 11/01/16 (c) | 5,526,429 | 5,526,429 |
Total Short-Term Investment | ||
(Cost $5,526,429) | 5,526,429 |
At 10/31/16, the tax basis cost of the fund's investments was $549,308,941 and the unrealized appreciation and depreciation were $73,764,080 and ($44,440,291), respectively, with a net unrealized appreciation of $29,323,789.
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $7,016,353. |
(b) | The rate shown is the 7-day yield. |
(c) | The rate shown is the current daily overnight rate. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Common Stock1 | $565,926,475 | $— | $— | $565,926,475 | |
Other Investment Company | 7,179,826 | — | — | 7,179,826 | |
Short-Term Investment1 | — | 5,526,429 | — | 5,526,429 | |
Total | $573,106,301 | $5,526,429 | $— | $578,632,730 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments, at value (cost $541,616,800) including securities on loan of $7,016,353 | $571,452,904 | |
Collateral invested for securities on loan, at value (cost $7,179,826) | + | 7,179,826 |
Total investments, at value (cost $548,796,626) | 578,632,730 | |
Deposit with broker for futures contracts | 236,000 | |
Receivables: | ||
Investments sold | 2,558,042 | |
Fund shares sold | 226,930 | |
Dividends | 47,808 | |
Income from securities on loan | 38,068 | |
Foreign tax reclaims | 399 | |
Interest | 22 | |
Prepaid expenses | + | 15,377 |
Total assets | 581,755,376 | |
Liabilities | ||
Collateral held for securities on loan | 7,179,826 | |
Payables: | ||
Investments bought | 1,990,110 | |
Investment adviser and administrator fees | 410,615 | |
Shareholder service fees | 122,431 | |
Fund shares redeemed | 530,418 | |
Accrued expenses | + | 63,726 |
Total liabilities | 10,297,126 | |
Net Assets | ||
Total assets | 581,755,376 | |
Total liabilities | – | 10,297,126 |
Net assets | $571,458,250 | |
Net Assets by Source | ||
Capital received from investors | 546,500,862 | |
Net investment income not yet distributed | 1,410,331 | |
Net realized capital losses | (6,289,047) | |
Net unrealized capital appreciation | 29,836,104 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$571,458,250 | 30,383,588 | $18.81 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $6,163) | $7,375,734 | |
Interest | 4,001 | |
Securities on loan | + | 1,231,449 |
Total investment income | 8,611,184 | |
Expenses | ||
Investment adviser and administrator fees | 4,753,728 | |
Shareholder service fees | 1,419,452 | |
Portfolio accounting fees | 50,371 | |
Shareholder reports | 50,023 | |
Registration fees | 36,482 | |
Professional fees | 35,232 | |
Custodian fees | 33,920 | |
Proxy fees | 21,309 | |
Transfer agent fees | 21,253 | |
Independent trustees' fees | 11,454 | |
Interest expense | 721 | |
Other expenses | + | 10,338 |
Total expenses | 6,444,283 | |
Expense reduction by CSIM and its affiliates | – | 21,253 |
Net expenses | – | 6,423,030 |
Net investment income | 2,188,154 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments | (6,311,162) | |
Net realized gains on futures contracts | 37,496 | |
Net realized losses on foreign currency transactions | + | (55) |
Net realized losses | (6,273,721) | |
Net change in unrealized appreciation (depreciation) on investments | 12,058,234 | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (2,090) |
Net change in unrealized appreciation (depreciation) | + | 12,056,144 |
Net realized and unrealized gains | 5,782,423 | |
Increase in net assets resulting from operations | $7,970,577 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $2,188,154 | $1,456,441 | ||
Net realized gains (losses) | (6,273,721) | 75,131,840 | ||
Net change in unrealized appreciation (depreciation) | + | 12,056,144 | (54,183,834) | |
Increase in net assets from operations | 7,970,577 | 22,404,447 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (1,300,102) | (501,780) | ||
Distributions from net realized gains | + | (75,008,179) | (122,791,233) | |
Total distributions | ($76,308,281) | ($123,293,013) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 4,063,466 | $71,865,992 | 6,541,101 | $141,989,885 | ||||
Shares reinvested | 3,095,037 | 55,617,808 | 4,347,908 | 90,523,445 | ||||
Shares redeemed | + | (6,528,284) | (118,052,147) | (7,655,131) | (167,260,267) | |||
Net transactions in fund shares | 630,219 | $9,431,653 | 3,233,878 | $65,253,063 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 29,753,369 | $630,364,301 | 26,519,491 | $665,999,804 | ||||
Total increase or decrease | + | 630,219 | (58,906,051) | 3,233,878 | (35,635,503) | |||
End of period | 30,383,588 | $571,458,250 | 29,753,369 | $630,364,301 | ||||
Net investment income not yet distributed | $1,410,331 | $881,488 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $17.46 | $19.02 | $18.62 | $16.36 | $15.32 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.03 1 | (0.01) 1 | (0.08) | (0.10) | (0.08) | |
Net realized and unrealized gains (losses) | 0.49 | 0.89 | 1.99 | 2.36 | 1.12 | |
Total from investment operations | 0.52 | 0.88 | 1.91 | 2.26 | 1.04 | |
Less distributions: | ||||||
Distributions from net investment income | (0.12) | — | — | — | — | |
Distributions from net realized gains | (1.61) | (2.44) | (1.51) | — | — | |
Total distributions | (1.73) | (2.44) | (1.51) | — | — | |
Net asset value at end of period | $16.25 | $17.46 | $19.02 | $18.62 | $16.36 | |
Total return | 3.55% | 4.84% | 11.07% | 13.81% | 6.79% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses (including dividend expense on short sales) | 1.85% | 1.82% | 1.99% | 2.48% | 2.08% | |
Net operating expenses (excluding dividend expense on short sales)2 | 1.57% | 1.54% | 1.52% | 1.48% | 1.53% | |
Gross operating expenses | 1.87% | 1.84% | 2.02% | 2.52% | 2.13% | |
Net investment income (loss) | 0.22% | (0.06%) | (0.46%) | (0.49%) | (0.47%) | |
Portfolio turnover rate | 142% | 146% | 142% | 130% | 109% | |
Net assets, end of period (x 1,000,000) | $204 | $212 | $200 | $193 | $194 | |
Holdings by Category | Cost ($) | Value ($) | |
97.7% | Common Stock | 188,173,472 | 199,800,830 |
3.4% | Other Investment Company | 7,026,780 | 7,026,780 |
101.1% | Total Investments | 195,200,252 | 206,827,610 |
(38.3%) | Short Sales | (82,764,276) | (78,377,966) |
37.2% | Other Assets and Liabilities, Net | 76,042,429 | |
100.0% | Net Assets | 204,492,073 |
Security | Number of Shares | Value ($) |
Common Stock 97.7% of net assets | ||
Automobiles & Components 2.4% | ||
Ford Motor Co. | 46,604 | 547,131 |
Lear Corp. | 13,525 | 1,660,599 |
Tenneco, Inc. *(a) | 47,628 | 2,622,874 |
4,830,604 | ||
Banks 8.4% | ||
Bank of America Corp. | 301,191 | 4,969,651 |
Citigroup, Inc. (a) | 94,361 | 4,637,843 |
Citizens Financial Group, Inc. | 22,034 | 580,376 |
MGIC Investment Corp. * | 158,548 | 1,293,752 |
Radian Group, Inc. (a) | 158,208 | 2,150,047 |
Regions Financial Corp. (a) | 239,500 | 2,565,045 |
TCF Financial Corp. | 14,074 | 201,258 |
The PNC Financial Services Group, Inc. (a) | 8,980 | 858,488 |
17,256,460 | ||
Capital Goods 6.7% | ||
Allison Transmission Holdings, Inc. (a) | 85,439 | 2,502,508 |
Briggs & Stratton Corp. | 25,748 | 479,428 |
Chicago Bridge & Iron Co., N.V. | 35,978 | 1,152,016 |
EnerSys (a) | 15,603 | 1,016,223 |
Huntington Ingalls Industries, Inc. (a) | 19,529 | 3,151,200 |
Masonite International Corp. * | 8,659 | 492,697 |
PACCAR, Inc. | 3,458 | 189,913 |
Ply Gem Holdings, Inc. * | 64,533 | 884,102 |
Raytheon Co. | 7,628 | 1,042,061 |
Regal Beloit Corp. | 11,624 | 686,978 |
Spirit AeroSystems Holdings, Inc., Class A *(a) | 41,172 | 2,073,422 |
13,670,548 | ||
Commercial & Professional Supplies 3.3% | ||
Brady Corp., Class A | 6,197 | 205,121 |
LSC Communications, Inc. * | 26,430 | 640,663 |
ManpowerGroup, Inc. | 19,837 | 1,523,482 |
RR Donnelley & Sons Co. (a) | 62,041 | 1,101,228 |
The Brink's Co. (a) | 41,218 | 1,630,172 |
West Corp. | 81,930 | 1,615,659 |
6,716,325 | ||
Security | Number of Shares | Value ($) |
Consumer Durables & Apparel 2.2% | ||
La-Z-Boy, Inc. | 22,415 | 524,511 |
Michael Kors Holdings Ltd. * | 20,016 | 1,016,413 |
Smith & Wesson Holding Corp. *(a) | 112,905 | 2,984,079 |
4,525,003 | ||
Consumer Services 1.8% | ||
Bloomin' Brands, Inc. (a) | 82,765 | 1,431,834 |
International Game Technology plc | 82,423 | 2,367,189 |
3,799,023 | ||
Diversified Financials 3.3% | ||
Ally Financial, Inc. | 69,577 | 1,257,256 |
Donnelley Financial Solutions, Inc. * | 26,430 | 566,924 |
Interactive Brokers Group, Inc., Class A (a) | 39,333 | 1,305,462 |
Voya Financial, Inc. (a) | 116,685 | 3,564,727 |
6,694,369 | ||
Energy 8.5% | ||
Apache Corp. | 27,322 | 1,625,113 |
Baker Hughes, Inc. | 37,188 | 2,060,215 |
Delek US Holdings, Inc. | 23,048 | 389,511 |
Diamond Offshore Drilling, Inc. | 14,900 | 245,701 |
Marathon Petroleum Corp. | 12,616 | 549,931 |
Noble Corp. plc | 139,546 | 689,357 |
ONEOK, Inc. (a) | 20,397 | 987,827 |
QEP Resources, Inc. (a) | 74,760 | 1,201,393 |
Rowan Cos. plc, Class A (a) | 86,766 | 1,151,385 |
Tesoro Corp. | 30,344 | 2,578,330 |
Valero Energy Corp. (a) | 60,247 | 3,569,032 |
World Fuel Services Corp. (a) | 56,662 | 2,280,646 |
17,328,441 | ||
Food & Staples Retailing 1.8% | ||
Wal-Mart Stores, Inc. (a) | 51,513 | 3,606,940 |
Food, Beverage & Tobacco 2.9% | ||
Dean Foods Co. (a) | 211,253 | 3,857,480 |
Dr Pepper Snapple Group, Inc. (a) | 12,752 | 1,119,498 |
Universal Corp. | 17,289 | 937,064 |
5,914,042 | ||
Health Care Equipment & Services 3.5% | ||
Allscripts Healthcare Solutions, Inc. * | 61,631 | 740,188 |
Cardinal Health, Inc. (a) | 46,225 | 3,175,195 |
Haemonetics Corp. * | 11,401 | 380,908 |
Halyard Health, Inc. * | 11,435 | 369,922 |
Hologic, Inc. *(a) | 27,581 | 993,192 |
McKesson Corp. | 10,188 | 1,295,608 |
Tenet Healthcare Corp. * | 12,693 | 250,179 |
7,205,192 | ||
Security | Number of Shares | Value ($) |
Household & Personal Products 2.2% | ||
Herbalife Ltd. * | 16,806 | 1,019,788 |
HRG Group, Inc. *(a) | 239,404 | 3,600,636 |
4,620,424 | ||
Insurance 1.5% | ||
Aspen Insurance Holdings Ltd. (a) | 22,884 | 1,104,153 |
CNA Financial Corp. | 6,193 | 226,478 |
Loews Corp. | 38,481 | 1,655,838 |
2,986,469 | ||
Materials 6.1% | ||
AK Steel Holding Corp. * | 126,847 | 659,604 |
Axalta Coating Systems Ltd. * | 34,890 | 876,437 |
Berry Plastics Group, Inc. * | 14,728 | 644,350 |
Cabot Corp. (a) | 61,296 | 3,195,974 |
Graphic Packaging Holding Co. | 73,382 | 917,275 |
Kaiser Aluminum Corp. | 5,829 | 422,544 |
Steel Dynamics, Inc. (a) | 58,180 | 1,597,623 |
Stepan Co. (a) | 12,235 | 869,052 |
Trinseo S.A. (a) | 53,943 | 2,829,310 |
Worthington Industries, Inc. | 12,138 | 570,486 |
12,582,655 | ||
Media 1.5% | ||
Live Nation Entertainment, Inc. * | 98,380 | 2,722,174 |
Sinclair Broadcast Group, Inc., Class A | 14,418 | 361,892 |
3,084,066 | ||
Pharmaceuticals, Biotechnology & Life Sciences 13.2% | ||
AbbVie, Inc. (a) | 54,531 | 3,041,739 |
Amgen, Inc. (a) | 29,311 | 4,137,541 |
Aptevo Therapeutics, Inc. * | 40,115 | 88,654 |
Biogen, Inc. *(a) | 8,973 | 2,514,055 |
Celgene Corp. *(a) | 9,869 | 1,008,414 |
Emergent BioSolutions, Inc. *(a) | 76,765 | 2,051,161 |
Five Prime Therapeutics, Inc. * | 18,107 | 878,733 |
INC Research Holdings, Inc., Class A * | 43,083 | 1,968,893 |
Johnson & Johnson | 4,409 | 511,400 |
Mallinckrodt plc * | 11,696 | 693,105 |
Merck & Co., Inc. (a) | 71,733 | 4,212,162 |
Mylan N.V. * | 10,627 | 387,885 |
Myriad Genetics, Inc. * | 39,212 | 772,869 |
Pfizer, Inc. (a) | 136,219 | 4,319,504 |
Prestige Brands Holdings, Inc. * | 8,271 | 374,511 |
26,960,626 | ||
Real Estate 1.3% | ||
Alexander's, Inc. | 1,926 | 740,104 |
CBL & Associates Properties, Inc. | 81,604 | 873,163 |
Outfront Media, Inc. | 36,480 | 784,685 |
Sabra Health Care REIT, Inc. | 7,944 | 185,095 |
2,583,047 | ||
Retailing 6.4% | ||
Abercrombie & Fitch Co., Class A | 9,144 | 133,594 |
Amazon.com, Inc. * | 7,831 | 6,185,080 |
Best Buy Co., Inc. | 11,242 | 437,426 |
Express, Inc. * | 51,327 | 616,950 |
GameStop Corp., Class A | 16,043 | 385,834 |
Genesco, Inc. * | 3,686 | 198,307 |
Security | Number of Shares | Value ($) |
Lowe's Cos., Inc. (a) | 39,198 | 2,612,547 |
Rent-A-Center, Inc. (a) | 121,412 | 1,225,047 |
Shutterfly, Inc. *(a) | 23,603 | 1,156,547 |
The Children's Place, Inc. | 807 | 61,292 |
13,012,624 | ||
Semiconductors & Semiconductor Equipment 1.0% | ||
Teradyne, Inc. (a) | 80,501 | 1,874,868 |
Tessera Technologies, Inc. | 4,169 | 154,670 |
2,029,538 | ||
Software & Services 9.3% | ||
Alphabet, Inc., Class A *(a) | 1,237 | 1,001,846 |
Cardtronics plc, Class A *(a) | 20,458 | 1,022,900 |
Citrix Systems, Inc. * | 3,452 | 292,730 |
CSG Systems International, Inc. | 4,702 | 178,817 |
First Data Corp., Class A * | 43,574 | 609,600 |
GoDaddy, Inc., Class A * | 27,789 | 994,568 |
IAC/InterActiveCorp | 8,463 | 545,356 |
International Business Machines Corp. | 6,748 | 1,037,100 |
Microsoft Corp. | 15,562 | 932,475 |
NeuStar, Inc., Class A * | 13,596 | 305,230 |
Nuance Communications, Inc. * | 224,268 | 3,144,238 |
Oracle Corp. | 25,019 | 961,230 |
Synchronoss Technologies, Inc. * | 21,214 | 778,766 |
Take-Two Interactive Software, Inc. * | 39,869 | 1,769,785 |
Teradata Corp. *(a) | 123,217 | 3,321,930 |
Web.com Group, Inc. * | 44,592 | 717,931 |
Xerox Corp. | 141,142 | 1,378,958 |
18,993,460 | ||
Technology Hardware & Equipment 6.1% | ||
Anixter International, Inc. * | 14,373 | 945,025 |
Apple, Inc. (a) | 29,213 | 3,316,844 |
Benchmark Electronics, Inc. * | 71,780 | 1,805,267 |
CommScope Holding Co., Inc. * | 13,076 | 399,472 |
HP, Inc. | 84,331 | 1,221,956 |
Insight Enterprises, Inc. * | 29,097 | 837,703 |
NCR Corp. *(a) | 75,135 | 2,633,482 |
NETGEAR, Inc. * | 7,126 | 359,863 |
SYNNEX Corp. (a) | 8,884 | 910,965 |
12,430,577 | ||
Telecommunication Services 0.5% | ||
T-Mobile US, Inc. *(a) | 6,321 | 314,343 |
Telephone & Data Systems, Inc. (a) | 24,946 | 644,605 |
958,948 | ||
Transportation 1.5% | ||
Hawaiian Holdings, Inc. *(a) | 37,145 | 1,672,454 |
JetBlue Airways Corp. * | 86,553 | 1,512,946 |
3,185,400 | ||
Utilities 2.3% | ||
CenterPoint Energy, Inc. | 26,111 | 595,331 |
Entergy Corp. (a) | 8,863 | 653,026 |
FirstEnergy Corp. (a) | 60,220 | 2,064,944 |
MDU Resources Group, Inc. | 20,456 | 536,152 |
Security | Number of Shares | Value ($) |
NRG Energy, Inc. | 32,705 | 347,654 |
UGI Corp. | 13,587 | 628,942 |
4,826,049 | ||
Total Common Stock | ||
(Cost $188,173,472) | 199,800,830 | |
Other Investment Company 3.4% of net assets | ||
Money Market Fund 3.4% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.26% (b) | 7,026,780 | 7,026,780 |
Total Other Investment Company | ||
(Cost $7,026,780) | 7,026,780 |
* | Non-income producing security. |
(a) | All or a portion of this security is held as collateral for short sales. |
(b) | The rate shown is the 7-day yield. |
REIT — | Real Estate Investment Trust |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
S&P 500 Index, e-mini, Long, expires 12/16/16 | 15 | 1,590,075 | (8,016) |
Security | Number of Shares | Value ($) |
Short Sales 38.3% of net assets | ||
Automobiles & Components (1.9%) | ||
Dorman Products, Inc. * | 24,359 | (1,564,822) |
Harley-Davidson, Inc. | 16,885 | (962,783) |
Tesla Motors, Inc. * | 7,278 | (1,439,079) |
(3,966,684) | ||
Banks (0.5%) | ||
LendingTree, Inc. * | 13,358 | (1,066,636) |
Capital Goods (3.1%) | ||
Air Lease Corp. | 52,846 | (1,599,120) |
Armstrong World Industries, Inc. * | 4,542 | (170,325) |
Dycom Industries, Inc. * | 16,199 | (1,246,189) |
Fastenal Co. | 12,222 | (476,414) |
Proto Labs, Inc. * | 22,580 | (1,009,326) |
Roper Technologies, Inc. | 3,326 | (576,429) |
The Middleby Corp. * | 6,071 | (680,620) |
Triumph Group, Inc. | 7,402 | (175,427) |
W.W. Grainger, Inc. | 1,724 | (358,799) |
(6,292,649) | ||
Commercial & Professional Supplies (2.8%) | ||
Cintas Corp. | 16,395 | (1,748,855) |
MSA Safety, Inc. | 18,768 | (1,094,174) |
Verisk Analytics, Inc. * | 22,482 | (1,833,407) |
WageWorks, Inc. * | 16,811 | (991,009) |
(5,667,445) | ||
Consumer Durables & Apparel (0.5%) | ||
Under Armour, Inc., Class A * | 31,870 | (991,157) |
Consumer Services (1.8%) | ||
Chipotle Mexican Grill, Inc. * | 2,815 | (1,015,539) |
Dunkin' Brands Group, Inc. | 15,452 | (747,259) |
ILG, Inc. | 28,194 | (461,818) |
Wynn Resorts Ltd. | 16,040 | (1,516,582) |
(3,741,198) | ||
Diversified Financials (1.1%) | ||
LendingClub Corp. * | 347,805 | (1,714,679) |
PRA Group, Inc. * | 4,067 | (129,737) |
Stifel Financial Corp. * | 8,245 | (322,709) |
Virtus Investment Partners, Inc. | 1,291 | (138,524) |
(2,305,649) | ||
Energy (4.1%) | ||
Cheniere Energy, Inc. * | 69,579 | (2,623,128) |
Clayton Williams Energy, Inc. * | 6,813 | (594,843) |
Golar LNG Ltd. | 113,930 | (2,493,928) |
Kosmos Energy Ltd. * | 77,342 | (402,952) |
Parsley Energy, Inc., Class A * | 8,822 | (290,244) |
RSP Permian, Inc. * | 41,721 | (1,506,128) |
US Silica Holdings, Inc. | 9,455 | (436,726) |
(8,347,949) | ||
Food, Beverage & Tobacco (1.1%) | ||
Monster Beverage Corp. * | 16,197 | (2,337,875) |
Security | Number of Shares | Value ($) |
Health Care Equipment & Services (2.8%) | ||
Acadia Healthcare Co., Inc. * | 27,641 | (993,970) |
Centene Corp. * | 8,709 | (544,138) |
DexCom, Inc. * | 11,089 | (867,604) |
Evolent Health, Inc., Class A * | 7,845 | (165,137) |
Nevro Corp. * | 26,925 | (2,474,946) |
Wright Medical Group N.V. * | 26,360 | (577,548) |
(5,623,343) | ||
Insurance (1.8%) | ||
Enstar Group Ltd. * | 1,185 | (199,791) |
Mercury General Corp. | 10,906 | (594,050) |
RLI Corp. | 33,991 | (1,894,658) |
White Mountains Insurance Group Ltd. | 807 | (669,584) |
Willis Towers Watson plc | 3,078 | (387,520) |
(3,745,603) | ||
Materials (5.4%) | ||
Albemarle Corp. | 14,229 | (1,188,833) |
Allegheny Technologies, Inc. | 15,962 | (217,722) |
AptarGroup, Inc. | 2,488 | (177,743) |
CF Industries Holdings, Inc. | 1,271 | (30,517) |
Compass Minerals International, Inc. | 24,364 | (1,750,553) |
FMC Corp. | 16,598 | (778,280) |
International Flavors & Fragrances, Inc. | 1,447 | (189,239) |
Martin Marietta Materials, Inc. | 14,924 | (2,766,611) |
Royal Gold, Inc. | 8,863 | (609,952) |
Southern Copper Corp. | 64,673 | (1,836,066) |
Stillwater Mining Co. * | 78,203 | (1,041,664) |
Vulcan Materials Co. | 2,584 | (292,509) |
WestRock Co. | 4,597 | (212,335) |
(11,092,024) | ||
Media (0.2%) | ||
Liberty Broadband Corp., Class A * | 1,999 | (129,835) |
Loral Space & Communications, Inc. * | 5,400 | (209,520) |
(339,355) | ||
Pharmaceuticals, Biotechnology & Life Sciences (3.4%) | ||
ACADIA Pharmaceuticals, Inc. * | 43,376 | (1,011,095) |
Alnylam Pharmaceuticals, Inc. * | 4,322 | (153,863) |
Dermira, Inc. * | 6,064 | (190,106) |
Illumina, Inc. * | 5,439 | (740,465) |
Intercept Pharmaceuticals, Inc. * | 15,525 | (1,921,064) |
Kite Pharma, Inc. * | 13,498 | (597,826) |
Radius Health, Inc. * | 3,864 | (165,843) |
TESARO, Inc. * | 4,455 | (538,520) |
TherapeuticsMD, Inc. * | 40,758 | (233,951) |
Ultragenyx Pharmaceutical, Inc. * | 22,841 | (1,347,391) |
(6,900,124) | ||
Real Estate (0.9%) | ||
Acadia Realty Trust | 28,230 | (951,069) |
Extra Space Storage, Inc. | 4,422 | (323,469) |
National Retail Properties, Inc. | 4,283 | (195,390) |
Sun Communities, Inc. | 3,633 | (279,487) |
(1,749,415) | ||
Retailing (2.0%) | ||
Advance Auto Parts, Inc. | 2,825 | (395,726) |
CarMax, Inc. * | 20,566 | (1,027,066) |
Security | Number of Shares | Value ($) |
Five Below, Inc. * | 7,880 | (296,131) |
Netflix, Inc. * | 13,052 | (1,629,803) |
Restoration Hardware Holdings, Inc. * | 16,263 | (471,139) |
Tractor Supply Co. | 5,094 | (319,037) |
(4,138,902) | ||
Semiconductors & Semiconductor Equipment (0.3%) | ||
Qorvo, Inc. * | 9,760 | (543,144) |
SunPower Corp. * | 11,350 | (82,174) |
(625,318) | ||
Software & Services (3.3%) | ||
2U, Inc. * | 2,805 | (97,782) |
Benefitfocus, Inc. * | 10,863 | (353,047) |
Envestnet, Inc. * | 4,966 | (175,548) |
EPAM Systems, Inc. * | 3,043 | (195,878) |
Globant S.A. * | 15,687 | (682,385) |
GrubHub, Inc. * | 12,272 | (467,686) |
ServiceNow, Inc. * | 2,723 | (239,379) |
Splunk, Inc. * | 20,105 | (1,210,120) |
Symantec Corp. | 24,538 | (614,186) |
Tableau Software, Inc., Class A * | 27,612 | (1,326,757) |
Workday, Inc., Class A * | 516 | (44,727) |
Yelp, Inc. * | 9,170 | (299,492) |
Zillow Group, Inc., Class A * | 30,761 | (1,016,036) |
(6,723,023) | ||
Security | Number of Shares | Value ($) |
Technology Hardware & Equipment (0.5%) | ||
Arista Networks, Inc. * | 5,886 | (498,838) |
Keysight Technologies, Inc. * | 2,452 | (80,426) |
ViaSat, Inc. * | 5,710 | (403,469) |
(982,733) | ||
Telecommunication Services (0.2%) | ||
Globalstar, Inc. * | 45,991 | (42,569) |
Level 3 Communications, Inc. * | 3,729 | (209,383) |
Shenandoah Telecommunications Co. | 7,646 | (201,855) |
(453,807) | ||
Utilities (0.6%) | ||
New Jersey Resources Corp. | 6,369 | (216,228) |
WEC Energy Group, Inc. | 14,351 | (857,042) |
WGL Holdings, Inc. | 3,390 | (213,807) |
(1,287,077) | ||
Total Short Sales | ||
(Proceeds $82,764,276) | (78,377,966) |
* | Non-income producing security |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Common Stock1 | $199,800,830 | $— | $— | $199,800,830 | |
Other Investment Company1 | 7,026,780 | — | — | 7,026,780 | |
Total | $206,827,610 | $— | $— | $206,827,610 | |
Liabilities Valuation Input | |||||
Other Financial Instruments | |||||
Futures Contracts2 | ($8,016) | $— | $— | ($8,016) | |
Short Sales1 | (78,377,966) | — | — | (78,377,966) |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of Portfolio Holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments, at value (cost $195,200,252) | $206,827,610 | |
Cash | 2,427 | |
Deposits with brokers for short sales and futures contracts | 78,486,601 | |
Receivables: | ||
Fund shares sold | 862,595 | |
Dividends | 103,856 | |
Prepaid expenses | + | 14,149 |
Total assets | 286,297,238 | |
Liabilities | ||
Securities sold short, at value (proceeds $82,764,276) | 78,377,966 | |
Payables: | ||
Investments bought | 2,954,705 | |
Investment adviser and administrator fees | 189,351 | |
Shareholder service fees | 38,500 | |
Fund shares redeemed | 181,650 | |
Dividends on short sales | 11,018 | |
Variation margin on futures contracts | 2,775 | |
Accrued expenses | + | 49,200 |
Total liabilities | 81,805,165 | |
Net Assets | ||
Total assets | 286,297,238 | |
Total liabilities | – | 81,805,165 |
Net assets | $204,492,073 | |
Net Assets by Source | ||
Capital received from investors | 182,846,579 | |
Distributions in excess of net investment income | (336,330) | |
Net realized capital gains | 5,976,172 | |
Net unrealized capital appreciation | 16,005,652 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$204,492,073 | 12,583,757 | $16.25 | ||
Investment Income | ||
Dividends | $4,134,375 | |
Expenses | ||
Investment adviser and administrator fees | 2,095,543 | |
Shareholder service fees | 442,457 | |
Dividends on short sales | 559,651 | |
Stock loan fees on short sales | 468,846 | |
Professional fees | 37,532 | |
Registration fees | 30,612 | |
Portfolio accounting fees | 26,771 | |
Transfer agent fees | 24,974 | |
Shareholder reports | 18,602 | |
Custodian fees | 13,049 | |
Independent trustees' fees | 9,143 | |
Proxy fees | 5,555 | |
Interest expense | 1,811 | |
Other expenses | + | 2,751 |
Total expenses | 3,737,297 | |
Expense reduction by CSIM and its affiliates | – | 47,080 |
Net expenses | – | 3,690,217 |
Net investment income | 444,158 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments | (2,537,034) | |
Net realized gains on futures contracts | 170,314 | |
Net realized gains on short sales | + | 9,520,139 |
Net realized gains | 7,153,419 | |
Net change in unrealized appreciation (depreciation) on investments | 557,786 | |
Net change in unrealized appreciation (depreciation) on futures contracts | (166,178) | |
Net change in unrealized appreciation (depreciation) on short sales | + | (1,876,312) |
Net change in unrealized appreciation (depreciation) | + | (1,484,704) |
Net realized and unrealized gains | 5,668,715 | |
Increase in net assets resulting from operations | $6,112,873 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income (loss) | $444,158 | ($117,398) | ||
Net realized gains | 7,153,419 | 20,369,324 | ||
Net change in unrealized appreciation (depreciation) | + | (1,484,704) | (10,543,635) | |
Increase in net assets from operations | 6,112,873 | 9,708,291 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (1,497,867) | — | ||
Distributions from net realized gains | + | (19,419,333) | (25,864,727) | |
Total distributions | ($20,917,200) | ($25,864,727) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 3,865,291 | $61,376,265 | 4,578,084 | $79,572,795 | ||||
Shares reinvested | 1,134,070 | 17,510,038 | 1,327,636 | 22,755,673 | ||||
Shares redeemed | + | (4,533,468) | (71,119,986) | (4,308,474) | (74,705,072) | |||
Net transactions in fund shares | 465,893 | $7,766,317 | 1,597,246 | $27,623,396 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 12,117,864 | $211,530,083 | 10,520,618 | $200,063,123 | ||||
Total increase or decrease | + | 465,893 | (7,038,010) | 1,597,246 | 11,466,960 | |||
End of period | 12,583,757 | $204,492,073 | 12,117,864 | $211,530,083 | ||||
Distributions in excess of net investment income | ($336,330) | $— |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $26.68 | $28.19 | $24.57 | $20.59 | $17.29 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.19 1 | 0.14 1 | 0.23 | 0.22 | 0.27 | |
Net realized and unrealized gains (losses) | (1.52) | 1.78 | 5.84 | 6.26 | 3.18 | |
Total from investment operations | (1.33) | 1.92 | 6.07 | 6.48 | 3.45 | |
Less distributions: | ||||||
Distributions from net investment income | (0.16) | (0.21) | (0.19) | (0.33) | (0.15) | |
Distributions from net realized gains | (3.63) | (3.22) | (2.26) | (2.17) | — | |
Total distributions | (3.79) | (3.43) | (2.45) | (2.50) | (0.15) | |
Net asset value at end of period | $21.56 | $26.68 | $28.19 | $24.57 | $20.59 | |
Total return | (5.78%) | 7.26% | 27.06% | 35.46% | 20.10% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.80% | 0.79% | 0.80% | 0.82% | 0.82% | |
Gross operating expenses | 0.80% | 0.80% | 0.81% | 0.83% | 0.85% | |
Net investment income (loss) | 0.82% | 0.52% | 0.93% | 1.06% | 1.44% | |
Portfolio turnover rate | 54% | 75% | 57% | 54% | 60% | |
Net assets, end of period (x 1,000,000) | $853 | $1,118 | $1,064 | $816 | $511 | |
Holdings by Category | Cost ($) | Value ($) | |
99.8% | Common Stock | 725,894,608 | 851,167,112 |
0.1% | Other Investment Company | 844,425 | 844,425 |
99.9% | Total Investments | 726,739,033 | 852,011,537 |
0.1% | Other Assets and Liabilities, Net | 912,203 | |
100.0% | Net Assets | 852,923,740 |
Security | Number of Shares | Value ($) |
Common Stock 99.8% of net assets | ||
Australia 1.9% | ||
Health Care Equipment & Services 1.9% | ||
Cochlear Ltd. | 159,255 | 15,473,424 |
Ramsay Health Care Ltd. | 13,800 | 768,452 |
16,241,876 | ||
Denmark 1.1% | ||
Pharmaceuticals, Biotechnology & Life Sciences 1.1% | ||
Genmab A/S * | 27,400 | 4,512,070 |
Novo Nordisk A/S, Class B | 145,400 | 5,179,945 |
9,692,015 | ||
Finland 1.4% | ||
Pharmaceuticals, Biotechnology & Life Sciences 1.4% | ||
Orion Oyj, Class B | 279,700 | 11,905,120 |
France 0.8% | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.8% | ||
Sanofi | 86,177 | 6,706,189 |
Germany 0.5% | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.5% | ||
STADA Arzneimittel AG | 78,820 | 3,952,709 |
Hong Kong 0.1% | ||
Health Care Equipment & Services 0.1% | ||
Shanghai Pharmaceuticals Holding Co., Ltd., H Shares | 313,200 | 805,963 |
Ireland 3.4% | ||
Health Care Equipment & Services 1.8% | ||
Medtronic plc | 189,665 | 15,556,323 |
Pharmaceuticals, Biotechnology & Life Sciences 1.6% | ||
Allergan plc * | 40,261 | 8,412,134 |
Mallinckrodt plc * | 85,300 | 5,054,878 |
13,467,012 | ||
29,023,335 | ||
Security | Number of Shares | Value ($) |
Israel 0.1% | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
Taro Pharmaceutical Industries Ltd. *(a) | 11,300 | 1,147,063 |
Italy 1.4% | ||
Health Care Equipment & Services 0.1% | ||
DiaSorin S.p.A. | 13,636 | 838,037 |
Pharmaceuticals, Biotechnology & Life Sciences 1.3% | ||
Recordati S.p.A. | 400,935 | 11,337,985 |
12,176,022 | ||
Japan 3.6% | ||
Health Care Equipment & Services 1.6% | ||
Hoya Corp. | 315,500 | 13,163,917 |
Pharmaceuticals, Biotechnology & Life Sciences 2.0% | ||
Astellas Pharma, Inc. | 772,600 | 11,466,816 |
Shionogi & Co., Ltd. | 113,100 | 5,569,947 |
17,036,763 | ||
30,200,680 | ||
Malaysia 0.0% | ||
Health Care Equipment & Services 0.0% | ||
Top Glove Corp. Berhad | 284,800 | 335,837 |
Republic of Korea 0.1% | ||
Health Care Equipment & Services 0.1% | ||
Vieworks Co., Ltd. | 7,230 | 388,263 |
Switzerland 7.2% | ||
Pharmaceuticals, Biotechnology & Life Sciences 7.2% | ||
Actelion Ltd. - Reg'd * | 100,600 | 14,536,280 |
Lonza Group AG - Reg'd * | 103,200 | 19,474,015 |
Novartis AG - Reg'd | 10,592 | 751,689 |
Roche Holding AG | 116,288 | 26,709,207 |
61,471,191 | ||
Taiwan 0.8% | ||
Health Care Equipment & Services 0.8% | ||
St. Shine Optical Co., Ltd. | 330,000 | 6,935,319 |
United Kingdom 3.4% | ||
Pharmaceuticals, Biotechnology & Life Sciences 3.4% | ||
GlaxoSmithKline plc | 1,143,798 | 22,594,960 |
Shire plc | 117,642 | 6,642,384 |
29,237,344 | ||
United States 74.0% | ||
Health Care Equipment & Services 23.4% | ||
Allscripts Healthcare Solutions, Inc. * | 537,800 | 6,458,978 |
Becton, Dickinson & Co. | 152,200 | 25,555,902 |
Boston Scientific Corp. * | 636,800 | 14,009,600 |
Security | Number of Shares | Value ($) |
Cardinal Health, Inc. | 65,800 | 4,519,802 |
Community Health Systems, Inc. * | 101,700 | 536,976 |
DaVita, Inc. * | 28,200 | 1,653,084 |
Edwards Lifesciences Corp. * | 53,800 | 5,122,836 |
Express Scripts Holding Co. * | 345,160 | 23,263,784 |
Haemonetics Corp. * | 66,428 | 2,219,359 |
Halyard Health, Inc. * | 137,300 | 4,441,655 |
HCA Holdings, Inc. * | 99,000 | 7,576,470 |
Hill-Rom Holdings, Inc. | 61,100 | 3,385,551 |
Hologic, Inc. * | 455,767 | 16,412,170 |
Humana, Inc. | 28,199 | 4,836,974 |
IDEXX Laboratories, Inc. * | 33,000 | 3,535,620 |
Intuitive Surgical, Inc. * | 7,900 | 5,309,432 |
Magellan Health, Inc. * | 45,000 | 2,315,250 |
McKesson Corp. | 87,100 | 11,076,507 |
Meridian Bioscience, Inc. | 248,500 | 4,087,825 |
RadNet, Inc. * | 102,700 | 713,765 |
ResMed, Inc. | 67,000 | 4,004,590 |
Teleflex, Inc. | 44,243 | 6,332,501 |
Tenet Healthcare Corp. * | 90,200 | 1,777,842 |
UnitedHealth Group, Inc. | 201,591 | 28,490,856 |
WellCare Health Plans, Inc. * | 103,476 | 11,745,561 |
199,382,890 | ||
Pharmaceuticals, Biotechnology & Life Sciences 50.6% | ||
AbbVie, Inc. | 237,826 | 13,265,934 |
Acorda Therapeutics, Inc. * | 48,242 | 853,883 |
Agilent Technologies, Inc. | 384,300 | 16,743,951 |
AMAG Pharmaceuticals, Inc. * | 184,900 | 4,751,930 |
Amgen, Inc. | 296,911 | 41,911,957 |
Aptevo Therapeutics, Inc. * | 72,300 | 159,783 |
Biogen, Inc. * | 87,264 | 24,449,628 |
Bristol-Myers Squibb Co. | 46,134 | 2,348,682 |
Celgene Corp. * | 266,906 | 27,272,455 |
Charles River Laboratories International, Inc. * | 125,292 | 9,507,157 |
Depomed, Inc. * | 342,081 | 7,648,931 |
Eli Lilly & Co. | 63,662 | 4,700,802 |
Emergent BioSolutions, Inc. * | 275,800 | 7,369,376 |
Five Prime Therapeutics, Inc. * | 67,200 | 3,261,216 |
Genomic Health, Inc. * | 178,233 | 5,313,126 |
Gilead Sciences, Inc. | 342,635 | 25,228,215 |
Horizon Pharma plc * | 191,800 | 3,206,896 |
INC Research Holdings, Inc., Class A * | 28,300 | 1,293,310 |
Johnson & Johnson | 564,402 | 65,464,988 |
Lexicon Pharmaceuticals, Inc. * | 100,430 | 1,489,377 |
Luminex Corp. * | 102,100 | 2,126,743 |
Merck & Co., Inc. | 906,060 | 53,203,843 |
Security | Number of Shares | Value ($) |
Mylan N.V. * | 197,900 | 7,223,350 |
PAREXEL International Corp. * | 56,700 | 3,303,342 |
PerkinElmer, Inc. | 62,295 | 3,170,193 |
Pfizer, Inc. | 1,768,200 | 56,069,622 |
Prestige Brands Holdings, Inc. * | 347,101 | 15,716,733 |
Repligen Corp. * | 46,900 | 1,339,933 |
SciClone Pharmaceuticals, Inc. * | 81,363 | 728,199 |
Spectrum Pharmaceuticals, Inc. * | 90,700 | 321,078 |
Thermo Fisher Scientific, Inc. | 150,450 | 22,120,663 |
431,565,296 | ||
630,948,186 | ||
Total Common Stock | ||
(Cost $725,894,608) | 851,167,112 | |
Other Investment Company 0.1% of net assets | ||
United States 0.1% | ||
Securities Lending Collateral 0.1% | ||
Wells Fargo Government Money Market Fund, Select Class 0.32% (b) | 844,425 | 844,425 |
Total Other Investment Company | ||
(Cost $844,425) | 844,425 |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $822,231. |
(b) | The rate shown is the 7-day yield. |
Reg'd — | Registered |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Common Stock1 | $661,118,584 | $— | $— | $661,118,584 | |
Australia 1 | — | 16,241,876 | — | 16,241,876 | |
Denmark 1 | — | 9,692,015 | — | 9,692,015 | |
Finland 1 | — | 11,905,120 | — | 11,905,120 | |
France 1 | — | 6,706,189 | — | 6,706,189 | |
Germany 1 | — | 3,952,709 | — | 3,952,709 | |
Hong Kong1 | — | 805,963 | — | 805,963 | |
Italy 1 | — | 12,176,022 | — | 12,176,022 | |
Japan 1 | — | 30,200,680 | — | 30,200,680 | |
Malaysia 1 | — | 335,837 | — | 335,837 | |
Republic of Korea1 | — | 388,263 | — | 388,263 | |
Switzerland 1 | — | 61,471,191 | — | 61,471,191 | |
Taiwan 1 | — | 6,935,319 | — | 6,935,319 | |
United Kingdom1 | — | 29,237,344 | — | 29,237,344 | |
Other Investment Company1 | 844,425 | — | — | 844,425 | |
Total | $661,963,009 | $190,048,528 | $— | $852,011,537 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments, at value (cost $725,894,608) including securities on loan of $822,231 | $851,167,112 | |
Collateral invested for securities on loan, at value (cost $844,425) | + | 844,425 |
Total investments, at value (cost $726,739,033) | 852,011,537 | |
Deposit with broker for futures contracts | 630,000 | |
Receivables: | ||
Investments sold | 2,659,500 | |
Foreign tax reclaims | 999,370 | |
Dividends | 333,405 | |
Fund shares sold | 324,192 | |
Income from securities on loan | 1,082 | |
Prepaid expenses | + | 16,055 |
Total assets | 856,975,141 | |
Liabilities | ||
Collateral held for securities on loan | 844,425 | |
Payables: | ||
Investment adviser and administrator fees | 412,384 | |
Shareholder service fees | 106,787 | |
Fund shares redeemed | 1,594,606 | |
Due to custodian | 1,015,208 | |
Accrued expenses | + | 77,991 |
Total liabilities | 4,051,401 | |
Net Assets | ||
Total assets | 856,975,141 | |
Total liabilities | – | 4,051,401 |
Net assets | $852,923,740 | |
Net Assets by Source | ||
Capital received from investors | 707,812,270 | |
Net investment income not yet distributed | 6,748,836 | |
Net realized capital gains | 13,160,180 | |
Net unrealized capital appreciation | 125,202,454 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$852,923,740 | 39,560,395 | $21.56 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $517,306) | $15,814,756 | |
Interest | 2,007 | |
Securities on loan | + | 144,868 |
Total investment income | 15,961,631 | |
Expenses | ||
Investment adviser and administrator fees | 5,229,517 | |
Shareholder service fees | 2,272,888 | |
Shareholder reports | 93,037 | |
Custodian fees | 85,884 | |
Portfolio accounting fees | 59,709 | |
Transfer agent fees | 50,244 | |
Professional fees | 33,102 | |
Proxy fees | 31,637 | |
Registration fees | 30,256 | |
Independent trustees' fees | 13,957 | |
Interest expense | 1,845 | |
Other expenses | + | 28,890 |
Total expenses | 7,930,966 | |
Expense reduction by CSIM and its affiliates | – | 50,244 |
Net expenses | – | 7,880,722 |
Net investment income | 8,080,909 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 13,879,248 | |
Net realized gains on futures contracts | 13,004 | |
Net realized losses on foreign currency transactions | + | (40,323) |
Net realized gains | 13,851,929 | |
Net change in unrealized appreciation (depreciation) on investments | (78,189,153) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | (9,317) |
Net change in unrealized appreciation (depreciation) | + | (78,198,470) |
Net realized and unrealized losses | (64,346,541) | |
Decrease in net assets resulting from operations | ($56,265,632) |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $8,080,909 | $5,941,714 | ||
Net realized gains | 13,851,929 | 149,735,571 | ||
Net change in unrealized appreciation (depreciation) | + | (78,198,470) | (79,361,560) | |
Increase (decrease) in net assets from operations | (56,265,632) | 76,315,725 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (6,691,995) | (8,134,921) | ||
Distributions from net realized gains | + | (149,840,338) | (122,526,297) | |
Total distributions | ($156,532,333) | ($130,661,218) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 2,833,641 | $64,956,918 | 7,812,599 | $212,724,582 | ||||
Shares reinvested | 6,099,701 | 139,195,182 | 4,588,745 | 118,160,176 | ||||
Shares redeemed | + | (11,272,005) | (256,438,361) | (8,253,014) | (222,654,576) | |||
Net transactions in fund shares | (2,338,663) | ($52,286,261) | 4,148,330 | $108,230,182 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 41,899,058 | $1,118,007,966 | 37,750,728 | $1,064,123,277 | ||||
Total increase or decrease | + | (2,338,663) | (265,084,226) | 4,148,330 | 53,884,689 | |||
End of period | 39,560,395 | $852,923,740 | 41,899,058 | $1,118,007,966 | ||||
Net investment income not yet distributed | $6,748,836 | $5,464,139 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $9.62 | $9.77 | $9.82 | $7.90 | $7.32 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.22 1 | 0.19 1 | 0.29 1 | 0.20 | 0.16 | |
Net realized and unrealized gains (losses) | (0.45) | (0.01) | (0.08) | 1.93 | 0.62 | |
Total from investment operations | (0.23) | 0.18 | 0.21 | 2.13 | 0.78 | |
Less distributions: | ||||||
Distributions from net investment income | (0.19) | (0.15) | (0.26) | (0.21) | (0.20) | |
Distributions from net realized gains | — | (0.18) | — | — | — | |
Total distributions | (0.19) | (0.33) | (0.26) | (0.21) | (0.20) | |
Net asset value at end of period | $9.20 | $9.62 | $9.77 | $9.82 | $7.90 | |
Total return | (2.41%) | 2.05% | 2.20% | 27.70% | 11.17% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.86% | 0.86% | 0.86% | 0.86% | 0.86% | |
Gross operating expenses | 0.91% | 0.92% | 0.98% | 1.10% | 1.16% | |
Net investment income (loss) | 2.40% | 2.02% | 2.95% | 2.40% | 2.45% | |
Portfolio turnover rate | 90% | 87% | 90% | 75% | 112% | |
Net assets, end of period (x 1,000,000) | $772 | $679 | $423 | $147 | $78 | |
Holdings by Category | Cost ($) | Value ($) | |
98.4% | Common Stock | 744,098,274 | 759,040,270 |
0.0% | Rights | 279,707 | 283,134 |
0.8% | Other Investment Company | 6,022,957 | 6,022,957 |
99.2% | Total Investments | 750,400,938 | 765,346,361 |
0.8% | Other Assets and Liabilities, Net | 6,430,967 | |
100.0% | Net Assets | 771,777,328 |
Security | Number of Shares | Value ($) |
Common Stock 98.4% of net assets | ||
Australia 5.5% | ||
Banks 0.6% | ||
Australia & New Zealand Banking Group Ltd. | 217,598 | 4,594,671 |
Consumer Services 0.5% | ||
Aristocrat Leisure Ltd. | 326,641 | 3,803,030 |
Diversified Financials 0.4% | ||
ASX Ltd. | 82,917 | 2,966,034 |
Energy 0.4% | ||
Caltex Australia Ltd. | 121,136 | 2,819,711 |
Food & Staples Retailing 0.2% | ||
Metcash Ltd. * | 1,107,000 | 1,670,645 |
Health Care Equipment & Services 0.5% | ||
Cochlear Ltd. | 37,008 | 3,595,746 |
Insurance 0.4% | ||
Medibank Pvt Ltd. | 1,564,627 | 3,065,291 |
Materials 1.3% | ||
Amcor Ltd. | 200,123 | 2,233,704 |
Mineral Resources Ltd. | 123,102 | 1,082,976 |
Northern Star Resources Ltd. | 592,224 | 1,915,511 |
OZ Minerals Ltd. | 380,210 | 1,942,624 |
Pact Group Holdings Ltd. | 343,582 | 1,712,735 |
Regis Resources Ltd. | 618,849 | 1,560,704 |
10,448,254 | ||
Retailing 0.4% | ||
JB Hi-Fi Ltd. | 150,654 | 3,247,636 |
Transportation 0.8% | ||
Qantas Airways Ltd. | 2,544,971 | 5,914,070 |
42,125,088 | ||
Austria 0.6% | ||
Banks 0.5% | ||
Erste Group Bank AG * | 119,197 | 3,737,875 |
Materials 0.1% | ||
Lenzing AG | 6,450 | 840,100 |
4,577,975 | ||
Belgium 1.7% | ||
Energy 0.1% | ||
Euronav N.V. | 119,857 | 937,743 |
Security | Number of Shares | Value ($) |
Materials 0.4% | ||
Bekaert N.V. | 64,446 | 2,865,027 |
Transportation 1.2% | ||
bpost S.A. | 350,593 | 9,327,345 |
13,130,115 | ||
Brazil 0.4% | ||
Consumer Durables & Apparel 0.4% | ||
MRV Engenharia e Participacoes S.A. | 772,700 | 2,992,034 |
Canada 0.1% | ||
Banks 0.1% | ||
Canadian Imperial Bank of Commerce | 11,464 | 858,967 |
China 0.2% | ||
Banks 0.1% | ||
Industrial & Commercial Bank of China Ltd., Class H | 1,535,000 | 921,367 |
Real Estate 0.1% | ||
Longfor Properties Co., Ltd. | 574,000 | 761,859 |
1,683,226 | ||
Denmark 1.7% | ||
Banks 0.4% | ||
Danske Bank A/S | 101,900 | 3,143,515 |
Capital Goods 0.7% | ||
Vestas Wind Systems A/S | 72,907 | 5,841,005 |
Pharmaceuticals, Biotechnology & Life Sciences 0.4% | ||
Genmab A/S * | 5,000 | 823,370 |
Novo Nordisk A/S, Class B | 58,345 | 2,078,569 |
2,901,939 | ||
Transportation 0.2% | ||
Dfds A/S | 31,922 | 1,542,414 |
13,428,873 | ||
Finland 1.0% | ||
Energy 1.0% | ||
Neste Oyj | 175,472 | 7,570,229 |
France 8.4% | ||
Banks 2.4% | ||
BNP Paribas S.A. | 133,291 | 7,728,646 |
Credit Agricole S.A. | 985,921 | 10,637,091 |
18,365,737 | ||
Capital Goods 0.8% | ||
Safran S.A. | 27,973 | 1,924,860 |
Thales S.A. | 46,044 | 4,332,047 |
6,256,907 | ||
Consumer Durables & Apparel 1.1% | ||
Christian Dior SE | 43,944 | 8,475,301 |
Security | Number of Shares | Value ($) |
Household & Personal Products 1.2% | ||
L'Oreal S.A. | 51,027 | 9,141,952 |
Pharmaceuticals, Biotechnology & Life Sciences 2.6% | ||
Ipsen S.A. | 41,875 | 2,894,864 |
Sanofi | 220,153 | 17,132,037 |
20,026,901 | ||
Software & Services 0.3% | ||
Atos SE | 25,000 | 2,594,339 |
64,861,137 | ||
Germany 8.0% | ||
Automobiles & Components 0.5% | ||
Continental AG | 21,520 | 4,133,797 |
Banks 1.4% | ||
Aareal Bank AG | 292,019 | 10,562,378 |
Capital Goods 0.8% | ||
HOCHTIEF AG | 38,056 | 5,196,428 |
Kloeckner & Co. SE * | 94,140 | 1,175,607 |
6,372,035 | ||
Consumer Durables & Apparel 0.3% | ||
Hugo Boss AG | 41,790 | 2,627,770 |
Insurance 1.7% | ||
Allianz SE - Reg'd | 81,324 | 12,695,020 |
Materials 1.9% | ||
Covestro AG | 226,177 | 13,393,604 |
Evonik Industries AG | 28,000 | 876,862 |
14,270,466 | ||
Media 0.5% | ||
ProSiebenSat.1 Media SE | 94,209 | 4,060,234 |
Software & Services 0.4% | ||
SAP SE | 19,326 | 1,702,610 |
Software AG | 30,000 | 1,090,325 |
2,792,935 | ||
Telecommunication Services 0.3% | ||
Deutsche Telekom AG - Reg'd | 153,000 | 2,496,228 |
Utilities 0.2% | ||
E.ON SE | 222,212 | 1,628,560 |
61,639,423 | ||
Hong Kong 3.9% | ||
Banks 0.2% | ||
China Construction Bank Corp., Class H | 2,500,000 | 1,825,617 |
Food, Beverage & Tobacco 0.7% | ||
Dali Foods Group Co., Ltd. | 1,097,500 | 571,158 |
WH Group Ltd. | 5,948,500 | 4,817,665 |
5,388,823 | ||
Materials 1.1% | ||
Sinopec Shanghai Petrochemical Co., Ltd., Class H | 16,239,000 | 8,277,877 |
Real Estate 0.6% | ||
China Resources Land Ltd. | 576,000 | 1,430,514 |
New World Development Co., Ltd. | 2,702,000 | 3,359,259 |
4,789,773 | ||
Software & Services 1.1% | ||
Tencent Holdings Ltd. | 303,848 | 8,052,677 |
Technology Hardware & Equipment 0.1% | ||
China Railway Signal & Communication Corp., Ltd., Class H | 469,000 | 380,274 |
Security | Number of Shares | Value ($) |
Utilities 0.1% | ||
CLP Holdings Ltd. | 96,000 | 975,839 |
29,690,880 | ||
Israel 0.2% | ||
Telecommunication Services 0.2% | ||
Bezeq The Israeli Telecommunication Corp., Ltd. | 933,981 | 1,696,489 |
Italy 0.7% | ||
Diversified Financials 0.1% | ||
Banca IFIS S.p.A. | 32,275 | 934,725 |
Energy 0.3% | ||
Saras S.p.A. | 1,200,793 | 2,085,717 |
Pharmaceuticals, Biotechnology & Life Sciences 0.3% | ||
Recordati S.p.A. | 89,245 | 2,523,747 |
5,544,189 | ||
Japan 22.8% | ||
Automobiles & Components 1.8% | ||
Bridgestone Corp. | 52,800 | 1,970,688 |
Fuji Heavy Industries Ltd. | 284,390 | 11,112,961 |
Suzuki Motor Corp. | 29,600 | 1,055,427 |
14,139,076 | ||
Banks 2.7% | ||
Aozora Bank Ltd. | 1,411,500 | 4,663,677 |
Mitsubishi UFJ Financial Group, Inc. | 1,489,500 | 7,685,535 |
Mizuho Financial Group, Inc. | 828,000 | 1,394,147 |
Resona Holdings, Inc. | 671,600 | 2,976,853 |
Sumitomo Mitsui Financial Group, Inc. | 111,400 | 3,862,423 |
20,582,635 | ||
Capital Goods 2.2% | ||
Hazama Ando Corp. | 838,400 | 5,404,753 |
ITOCHU Corp. | 222,700 | 2,812,410 |
Kanamoto Co., Ltd. | 103,200 | 2,479,346 |
Kumagai Gumi Co., Ltd. | 355,400 | 943,846 |
Nissin Electric Co., Ltd. | 142,000 | 1,893,555 |
Takuma Co., Ltd. | 127,000 | 1,167,492 |
Tokyu Construction Co., Ltd. | 95,500 | 965,009 |
Toshiba Plant Systems & Services Corp. | 59,000 | 951,337 |
16,617,748 | ||
Consumer Durables & Apparel 1.1% | ||
Bandai Namco Holdings, Inc. | 154,800 | 4,637,189 |
Fujitsu General Ltd. | 177,000 | 4,061,567 |
8,698,756 | ||
Consumer Services 0.4% | ||
Round One Corp. | 135,200 | 955,111 |
Toridoll Holdings Corp. | 92,700 | 2,147,708 |
3,102,819 | ||
Diversified Financials 1.3% | ||
Japan Securities Finance Co., Ltd. | 484,900 | 2,155,079 |
Mitsubishi UFJ Lease & Finance Co., Ltd. | 857,700 | 4,152,283 |
ORIX Corp. | 224,500 | 3,557,515 |
9,864,877 | ||
Food, Beverage & Tobacco 0.1% | ||
MEIJI Holdings Co., Ltd. | 7,700 | 767,999 |
Household & Personal Products 0.5% | ||
Lion Corp. | 118,000 | 1,929,889 |
Pola Orbis Holdings, Inc. | 21,200 | 1,764,036 |
3,693,925 |
Security | Number of Shares | Value ($) |
Insurance 0.0% | ||
Dai-ichi Life Holdings, Inc. | 10,801 | 158,353 |
Materials 1.8% | ||
Sanyo Special Steel Co., Ltd. | 361,000 | 1,850,590 |
Tokuyama Corp. * | 803,000 | 3,433,442 |
Tokyo Steel Manufacturing Co., Ltd. | 1,272,600 | 8,827,032 |
14,111,064 | ||
Pharmaceuticals, Biotechnology & Life Sciences 2.2% | ||
Astellas Pharma, Inc. | 671,600 | 9,967,789 |
Daiichi Sankyo Co., Ltd. | 51,200 | 1,230,296 |
Shionogi & Co., Ltd. | 90,500 | 4,456,942 |
Sumitomo Dainippon Pharma Co., Ltd. | 82,200 | 1,423,675 |
17,078,702 | ||
Real Estate 0.4% | ||
Daiwa House Industry Co., Ltd. | 25,000 | 686,164 |
Kenedix Office Investment Corp. | 195 | 1,099,519 |
Premier Investment Corp. | 1,000 | 1,289,020 |
3,074,703 | ||
Retailing 2.0% | ||
Adastria Co., Ltd. | 113,640 | 2,974,878 |
Geo Holdings Corp. | 340,525 | 4,319,891 |
Nishimatsuya Chain Co., Ltd. | 65,100 | 916,443 |
Seria Co., Ltd. | 12,600 | 994,006 |
Start Today Co., Ltd. | 171,600 | 3,007,109 |
T-Gaia Corp. | 210,700 | 3,240,748 |
15,453,075 | ||
Semiconductors & Semiconductor Equipment 0.9% | ||
SCREEN Holdings Co., Ltd. | 39,000 | 2,667,967 |
Tokyo Electron Ltd. | 30,000 | 2,706,148 |
Ulvac, Inc. | 59,832 | 1,889,134 |
7,263,249 | ||
Software & Services 1.0% | ||
Mixi, Inc. | 191,100 | 7,020,658 |
Oracle Corp., Japan | 12,000 | 653,074 |
7,673,732 | ||
Technology Hardware & Equipment 0.7% | ||
Elecom Co., Ltd. | 65,700 | 1,343,175 |
Hitachi High-Technologies Corp. | 94,800 | 3,953,729 |
5,296,904 | ||
Telecommunication Services 0.7% | ||
Nippon Telegraph & Telephone Corp. | 83,000 | 3,679,957 |
NTT DOCOMO, Inc. | 64,953 | 1,631,229 |
5,311,186 | ||
Transportation 2.0% | ||
Central Japan Railway Co. | 32,445 | 5,517,146 |
Japan Airlines Co., Ltd. | 340,700 | 10,054,665 |
15,571,811 | ||
Utilities 1.0% | ||
Chubu Electric Power Co., Inc. | 207,300 | 3,051,736 |
Toho Gas Co., Ltd. | 140,000 | 1,298,269 |
Tohoku Electric Power Co., Inc. | 262,400 | 3,214,887 |
7,564,892 | ||
176,025,506 | ||
Malaysia 0.2% | ||
Transportation 0.2% | ||
AirAsia Berhad | 2,440,000 | 1,610,929 |
Security | Number of Shares | Value ($) |
Netherlands 4.1% | ||
Commercial & Professional Supplies 0.5% | ||
RELX N.V. | 131,291 | 2,213,899 |
Wolters Kluwer N.V. | 42,381 | 1,638,884 |
3,852,783 | ||
Energy 0.3% | ||
Koninklijke Vopak N.V. | 44,682 | 2,255,213 |
Food & Staples Retailing 0.5% | ||
Koninklijke Ahold Delhaize N.V. | 169,021 | 3,855,775 |
Household & Personal Products 0.8% | ||
Unilever N.V. CVA | 145,131 | 6,070,246 |
Materials 0.7% | ||
Akzo Nobel N.V. | 61,260 | 3,958,072 |
Corbion N.V. | 55,952 | 1,290,733 |
5,248,805 | ||
Semiconductors & Semiconductor Equipment 0.2% | ||
BE Semiconductor Industries N.V. | 37,527 | 1,222,511 |
Telecommunication Services 0.8% | ||
Koninklijke KPN N.V. | 1,990,228 | 6,489,635 |
Transportation 0.3% | ||
PostNL N.V. * | 576,859 | 2,716,812 |
31,711,780 | ||
New Zealand 0.2% | ||
Telecommunication Services 0.2% | ||
Spark New Zealand Ltd. | 413,300 | 1,080,938 |
Norway 0.4% | ||
Energy 0.4% | ||
Subsea 7 S.A. * | 247,413 | 2,769,632 |
Republic of Korea 1.5% | ||
Capital Goods 0.3% | ||
Hyundai Development Co-Engineering & Construction | 53,160 | 2,248,008 |
Consumer Durables & Apparel 0.1% | ||
LG Electronics, Inc. | 28,000 | 1,167,245 |
Food, Beverage & Tobacco 0.2% | ||
KT&G Corp. | 13,004 | 1,282,586 |
Household & Personal Products 0.1% | ||
LG Household & Health Care Ltd. | 1,200 | 858,406 |
Technology Hardware & Equipment 0.8% | ||
Samsung Electronics Co., Ltd. | 4,335 | 6,200,472 |
11,756,717 | ||
Singapore 1.7% | ||
Banks 0.3% | ||
DBS Group Holdings Ltd. | 256,000 | 2,759,349 |
Real Estate 1.1% | ||
CapitaLand Ltd. | 3,691,000 | 8,186,324 |
Transportation 0.3% | ||
SATS Ltd. | 703,800 | 2,448,427 |
13,394,100 | ||
Spain 4.0% | ||
Banks 1.0% | ||
Banco Bilbao Vizcaya Argentaria S.A. | 504,672 | 3,632,976 |
Banco Santander S.A. | 862,010 | 4,223,871 |
7,856,847 |
Security | Number of Shares | Value ($) |
Capital Goods 1.7% | ||
ACS Actividades de Construccion y Servicios S.A. | 422,624 | 12,927,504 |
Media 0.4% | ||
Mediaset Espana Comunicacion S.A. | 287,719 | 3,210,717 |
Retailing 0.1% | ||
Industria de Diseno Textil S.A. | 16,469 | 574,643 |
Software & Services 0.1% | ||
Amadeus IT Group S.A. | 17,239 | 811,333 |
Telecommunication Services 0.5% | ||
Telefonica S.A. | 393,388 | 3,997,060 |
Utilities 0.2% | ||
Enagas S.A. | 46,300 | 1,327,187 |
30,705,291 | ||
Sweden 2.0% | ||
Banks 0.2% | ||
Nordea Bank AB | 182,756 | 1,920,605 |
Capital Goods 0.2% | ||
Peab AB | 167,119 | 1,417,341 |
Commercial & Professional Supplies 0.5% | ||
Intrum Justitia AB | 123,094 | 3,795,293 |
Consumer Durables & Apparel 0.5% | ||
Electrolux AB, B Shares | 171,800 | 4,066,220 |
Food, Beverage & Tobacco 0.4% | ||
Swedish Match AB | 85,887 | 2,988,877 |
Real Estate 0.1% | ||
Hemfosa Fastigheter AB | 84,751 | 796,856 |
Technology Hardware & Equipment 0.1% | ||
Mycronic AB | 61,700 | 644,009 |
15,629,201 | ||
Switzerland 10.1% | ||
Capital Goods 0.6% | ||
Schindler Holding AG | 23,386 | 4,344,577 |
Consumer Durables & Apparel 0.4% | ||
Forbo Holding AG - Reg'd * | 2,529 | 3,223,909 |
Diversified Financials 1.4% | ||
Cembra Money Bank AG * | 101,507 | 7,758,444 |
Pargesa Holding S.A. | 45,483 | 3,053,163 |
10,811,607 | ||
Food, Beverage & Tobacco 2.0% | ||
Nestle S.A. - Reg'd | 217,465 | 15,769,228 |
Insurance 1.4% | ||
Swiss Life Holding AG - Reg'd * | 40,398 | 10,690,627 |
Materials 0.6% | ||
Givaudan S.A. - Reg'd | 1,846 | 3,570,289 |
Sika AG | 200 | 961,291 |
4,531,580 | ||
Pharmaceuticals, Biotechnology & Life Sciences 3.7% | ||
Actelion Ltd. - Reg'd * | 69,432 | 10,032,634 |
Lonza Group AG - Reg'd * | 18,275 | 3,448,524 |
Roche Holding AG | 64,696 | 14,859,477 |
28,340,635 | ||
77,712,163 | ||
Taiwan 0.5% | ||
Health Care Equipment & Services 0.1% | ||
St. Shine Optical Co., Ltd. | 20,000 | 420,322 |
Security | Number of Shares | Value ($) |
Semiconductors & Semiconductor Equipment 0.4% | ||
Taiwan Semiconductor Manufacturing Co., Ltd. | 595,000 | 3,570,804 |
3,991,126 | ||
United Kingdom 18.5% | ||
Banks 1.7% | ||
HSBC Holdings plc | 1,257,732 | 9,472,152 |
The Paragon Group of Cos. plc | 972,359 | 3,943,844 |
13,415,996 | ||
Capital Goods 1.4% | ||
QinetiQ Group plc | 2,543,715 | 7,163,468 |
Spirax-Sarco Engineering plc | 61,815 | 3,332,762 |
10,496,230 | ||
Commercial & Professional Supplies 0.1% | ||
Intertek Group plc | 16,438 | 685,828 |
Consumer Services 1.7% | ||
Carnival plc | 273,139 | 13,174,283 |
Diversified Financials 0.2% | ||
IG Group Holdings plc | 116,198 | 1,173,390 |
Energy 3.5% | ||
BP plc | 2,454,748 | 14,511,744 |
Royal Dutch Shell plc, B Shares | 498,209 | 12,850,057 |
27,361,801 | ||
Food, Beverage & Tobacco 2.5% | ||
British American Tobacco plc | 64,777 | 3,712,560 |
Diageo plc | 53,100 | 1,413,338 |
Imperial Brands plc | 286,121 | 13,840,194 |
18,966,092 | ||
Household & Personal Products 1.7% | ||
Reckitt Benckiser Group plc | 125,133 | 11,194,461 |
Unilever plc | 39,371 | 1,643,708 |
12,838,169 | ||
Insurance 1.8% | ||
Admiral Group plc | 80,157 | 1,878,013 |
Old Mutual plc | 3,733,325 | 9,183,747 |
Phoenix Group Holdings | 283,613 | 2,533,609 |
13,595,369 | ||
Materials 0.3% | ||
Rio Tinto plc | 70,432 | 2,449,295 |
Pharmaceuticals, Biotechnology & Life Sciences 0.8% | ||
GlaxoSmithKline plc | 323,817 | 6,396,787 |
Retailing 0.5% | ||
JD Sports Fashion plc | 221,244 | 4,113,449 |
Software & Services 0.5% | ||
Moneysupermarket.com Group plc | 1,273,034 | 4,076,022 |
Utilities 1.8% | ||
Centrica plc | 4,709,693 | 12,335,887 |
Severn Trent plc | 62,378 | 1,775,664 |
14,111,551 | ||
142,854,262 | ||
Total Common Stock | ||
(Cost $744,098,274) | 759,040,270 | |
Security | Number of Shares | Value ($) |
Rights 0.0% of net assets | ||
United Kingdom 0.0% | ||
Phoenix Group Holdings * | 104,197 | 283,134 |
Total Rights | ||
(Cost $279,707) | 283,134 | |
Other Investment Company 0.8% of net assets | ||
Money Market Fund 0.8% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.26% (a) | 6,022,957 | 6,022,957 |
Total Other Investment Company | ||
(Cost $6,022,957) | 6,022,957 |
* | Non-income producing security. |
(a) | The rate shown is the 7-day yield. |
CVA — | Dutch Certificate |
Reg'd — | Registered |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
MSCI EAFE, e-mini, Long, expires 12/16/16 | 55 | 4,580,675 | (63,369) |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Common Stock1 | $— | $750,611,294 | $— | $750,611,294 | |
Austria 1 | — | 3,737,875 | — | 3,737,875 | |
Materials | 840,100 | — | — | 840,100 | |
Brazil 1 | 2,992,034 | — | — | 2,992,034 | |
Canada 1 | 858,967 | — | — | 858,967 | |
Rights 1 | 283,134 | — | — | 283,134 | |
Other Investment Company1 | 6,022,957 | — | — | 6,022,957 | |
Total | $10,997,192 | $754,349,169 | $— | $765,346,361 | |
Liabilities Valuation Input | |||||
Other Financial Instruments | |||||
Futures Contracts2 | ($63,369) | $— | $— | ($63,369) |
1 | As categorized in Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of Portfolio Holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments, at value (cost $750,400,938) | $765,346,361 | |
Deposit with broker for futures contracts | 546,000 | |
Receivables: | ||
Investments sold | 3,145,515 | |
Dividends | 1,876,960 | |
Fund shares sold | 1,230,230 | |
Foreign tax reclaims | 833,614 | |
Variation margin on futures contracts | 2,475 | |
Prepaid expenses | + | 24,677 |
Total assets | 773,005,832 | |
Liabilities | ||
Payables: | ||
Investment adviser and administrator fees | 380,194 | |
Shareholder service fees | 127,362 | |
Fund shares redeemed | 482,599 | |
Due to custodian | 87,269 | |
Accrued expenses | + | 151,080 |
Total liabilities | 1,228,504 | |
Net Assets | ||
Total assets | 773,005,832 | |
Total liabilities | – | 1,228,504 |
Net assets | $771,777,328 | |
Net Assets by Source | ||
Capital received from investors | 799,159,634 | |
Net investment income not yet distributed | 17,033,702 | |
Net realized capital losses | (59,217,732) | |
Net unrealized capital appreciation | 14,801,724 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$771,777,328 | 83,859,976 | $9.20 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $2,229,194) | $23,423,739 | |
Expenses | ||
Investment adviser and administrator fees | 4,162,482 | |
Shareholder service fees | 1,758,323 | |
Custodian fees | 280,263 | |
Portfolio accounting fees | 76,812 | |
Registration fees | 71,111 | |
Shareholder reports | 49,995 | |
Professional fees | 44,776 | |
Transfer agent fees | 27,612 | |
Proxy fees | 17,253 | |
Independent trustees' fees | 12,147 | |
Interest expense | 58 | |
Other expenses | + | 25,639 |
Total expenses | 6,526,471 | |
Expense reduction by CSIM and its affiliates | – | 334,534 |
Net expenses | – | 6,191,937 |
Net investment income | 17,231,802 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments | (42,939,095) | |
Net realized losses on futures contracts | (70,325) | |
Net realized gains on foreign currency transactions | + | 53,923 |
Net realized losses | (42,955,497) | |
Net change in unrealized appreciation (depreciation) on investments | 10,793,654 | |
Net change in unrealized appreciation (depreciation) on futures contracts | (103,376) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | (63,151) |
Net change in unrealized appreciation (depreciation) | + | 10,627,127 |
Net realized and unrealized losses | (32,328,370) | |
Decrease in net assets resulting from operations | ($15,096,568) |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $17,231,802 | $11,307,276 | ||
Net realized losses | (42,955,497) | (3,906,044) | ||
Net change in unrealized appreciation (depreciation) | + | 10,627,127 | (590,377) | |
Increase (decrease) in net assets from operations | (15,096,568) | 6,810,855 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (13,757,023) | (6,697,762) | ||
Distributions from net realized gains | + | — | (8,247,177) | |
Total distributions | ($13,757,023) | ($14,944,939) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 32,702,600 | $293,413,982 | 39,601,250 | $382,386,533 | ||||
Shares reinvested | 1,360,473 | 12,393,908 | 1,470,490 | 13,499,099 | ||||
Shares redeemed | + | (20,795,558) | (184,509,327) | (13,726,881) | (130,995,091) | |||
Net transactions in fund shares | 13,267,515 | $121,298,563 | 27,344,859 | $264,890,541 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 70,592,461 | $679,332,356 | 43,247,602 | $422,575,899 | ||||
Total increase | + | 13,267,515 | 92,444,972 | 27,344,859 | 256,756,457 | |||
End of period | 83,859,976 | $771,777,328 | 70,592,461 | $679,332,356 | ||||
Net investment income not yet distributed | $17,033,702 | $12,297,487 |
SCHWAB CAPITAL TRUST (ORGANIZED MAY 7, 1993) | |
Schwab Core Equity Fund | Schwab Target 2045 Fund |
Schwab Dividend Equity Fund | Schwab Target 2050 Fund |
Schwab Large-Cap Growth Fund | Schwab Target 2055 Fund |
Schwab Small-Cap Equity Fund | Schwab Target 2060 Fund |
Schwab Hedged Equity Fund | Schwab Fundamental US Large Company Index Fund |
Schwab Health Care Fund | Schwab Fundamental US Small Company Index Fund |
Schwab International Core Equity Fund | Schwab Fundamental International Large Company Index Fund |
Schwab ® S&P 500 Index Fund | Schwab Fundamental International Small Company Index Fund |
Schwab Small-Cap Index Fund® | Schwab Fundamental Emerging Markets Large Company Index Fund |
Schwab Total Stock Market Index Fund® | Schwab Fundamental Global Real Estate Index Fund |
Schwab International Index Fund® | Schwab Target 2010 Index Fund |
Schwab MarketTrack All Equity Portfolio™ | Schwab Target 2015 Index Fund |
Schwab MarketTrack Growth Portfolio™ | Schwab Target 2020 Index Fund |
Schwab MarketTrack Balanced Portfolio™ | Schwab Target 2025 Index Fund |
Schwab MarketTrack Conservative Portfolio™ | Schwab Target 2030 Index Fund |
Laudus Small-Cap MarketMasters Fund™ | Schwab Target 2035 Index Fund |
Laudus International MarketMasters Fund™ | Schwab Target 2040 Index Fund |
Schwab Balanced Fund™ | Schwab Target 2045 Index Fund |
Schwab Target 2010 Fund | Schwab Target 2050 Index Fund |
Schwab Target 2015 Fund | Schwab Target 2055 Index Fund |
Schwab Target 2020 Fund | Schwab Target 2060 Index Fund |
Schwab Target 2025 Fund | Schwab ® Monthly Income Fund - Moderate Payout |
Schwab Target 2030 Fund | Schwab ® Monthly Income Fund - Enhanced Payout |
Schwab Target 2035 Fund | Schwab ® Monthly Income Fund - Maximum Payout |
Schwab Target 2040 Fund |
2. Significant Accounting Policies:
3. Risk Factors:
4. Affiliates and Affiliated Transactions:
% of Average Daily Net Assets | Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Large-Cap Growth Fund | Schwab Small-Cap Equity Fund | Schwab Hedged Equity Fund | Schwab International Core Equity Fund |
Flat rate | 0.47% | 0.62% | 0.72% | 0.81% | 1.05% | 0.58% |
% of Average Daily Net Assets | Schwab Health Care Fund |
First $500 million | 0.54% |
$500 million to $1 billion | 0.515% |
Over $1 billion | 0.49% |
Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Large-Cap Growth Fund | Schwab Small-Cap Equity Fund | Schwab Hedged Equity Fund | Schwab Health Care Fund | Schwab International Core Equity Fund |
0.75% | 0.89% | 0.99% | 1.12% | 1.33%* | 0.82% | 0.86% |
* | Excludes dividends and stock loan fees paid on securities sold short. |
Underlying Funds | |||||||
Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Small-Cap Equity Fund | Schwab International Core Equity Fund | ||||
Schwab Target 2010 Fund | 0.2% | 0.1% | 0.1% | 0.3% | |||
Schwab Target 2015 Fund | 0.4% | 0.2% | 0.3% | 0.5% | |||
Schwab Target 2020 Fund | 2.3% | 1.4% | 1.9% | 3.5% | |||
Schwab Target 2025 Fund | 2.3% | 1.4% | 2.1% | 3.5% | |||
Schwab Target 2030 Fund | 4.7% | 2.8% | 4.9% | 7.3% | |||
Schwab Target 2035 Fund | 2.2% | 1.4% | 2.5% | 3.6% | |||
Schwab Target 2040 Fund | 5.6% | 3.3% | 7.1% | 9.0% | |||
Schwab Target 2045 Fund | 0.6% | 0.3% | 0.8% | 0.9% | |||
Schwab Target 2050 Fund | 0.5% | 0.3% | 0.7% | 0.8% | |||
Schwab Target 2055 Fund | 0.3% | 0.2% | 0.4% | 0.5% | |||
Schwab Target 2060 Fund | 0.0%* | 0.0%* | 0.0%* | 0.0%* | |||
Schwab Monthly Income Fund — Moderate Payout | —% | 0.9% | —% | —% | |||
Schwab Monthly Income Fund — Enhanced Payout | —% | 1.2% | —% | —% | |||
Schwab Monthly Income Fund — Maximum Payout | —% | 0.4% | —% | —% | |||
Schwab Balanced Fund | 4.8% | —% | —% | —% |
* | Less than 0.05% |
5. Board of Trustees:
6. Borrowing from Banks:
Purchases of Securities | Sales/Maturities of Securities | |
Schwab Core Equity Fund | $1,729,289,131 | $1,950,096,614 |
Schwab Dividend Equity Fund | 1,234,397,219 | 1,501,793,884 |
Schwab Large-Cap Growth Fund | 190,786,253 | 219,317,034 |
Schwab Small-Cap Equity Fund | 500,281,288 | 568,368,161 |
Schwab Hedged Equity Fund* | 281,369,544 | 295,281,680 |
Schwab Health Care Fund | 528,546,615 | 727,265,580 |
Schwab International Core Equity Fund | 761,892,309 | 641,502,081 |
* | Including securities sold short. |
8. Derivatives:
Contract Values | Number of Contracts | |
Schwab Core Equity Fund | $11,101,620 | 109 |
Schwab Dividend Equity Fund | 3,394,315 | 34 |
Schwab Large-Cap Growth Fund | 821,019 | 8 |
Schwab Small-Cap Equity Fund | 1,802,236 | 15 |
Schwab Hedged Equity Fund | 1,545,980 | 15 |
Schwab Health Care Fund | 405,075 | 4 |
Schwab International Core Equity Fund | 6,614,352 | 80 |
Schwab International Core Equity Fund | |
Equity Index Futures Contracts | |
Realized Gains (Losses)1 | ($70,325) |
Change in Unrealized Appreciation (Depreciation)2 | (103,376) |
Forward Foreign Currency Exchange Contracts | |
Realized Gains (Losses)1 | ($40,624) |
Change in Unrealized Appreciation (Depreciation)2 | — |
1 | Statement of Operations location: Net realized gains (losses) on futures contracts and net realized gains (losses) on foreign currency transactions. |
2 | Statement of Operations location: Net change in unrealized appreciation (depreciation) on futures contracts and net change in unrealized appreciation (depreciation) on foreign currency translations. |
Current Period (11/1/15-10/31/16) | Prior Period (11/1/14-10/31/15) | |
Schwab Core Equity Fund | $21,676 | $22,991 |
Schwab Dividend Equity Fund | 10,131 | 17,039 |
Schwab Large-Cap Growth Fund | 590 | 5,458 |
Schwab Small-Cap Equity Fund | 4,174 | 13,614 |
Schwab Hedged Equity Fund | 4,852 | 8,264 |
Schwab Health Care Fund | 28,881 | 54,580 |
Schwab International Core Equity Fund | 20,115 | 15,500 |
10. Federal Income Taxes:
Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Large-Cap Growth Fund | Schwab Small-Cap Equity Fund | Schwab Hedged Equity Fund | |||||
Undistributed ordinary income | $27,905,265 | $1,273,539 | $1,950,703 | $1,410,331 | $4,573,764 | ||||
Undistributed long-term capital gains | — | — | 7,122,436 | — | 1,796,103 | ||||
Unrealized appreciation on investments | 272,660,738 | 154,675,788 | 28,365,935 | 73,764,080 | 22,176,082 | ||||
Unrealized depreciation on investments | (49,288,560) | (59,533,836) | (6,543,376) | (44,440,291) | (10,674,666) | ||||
Other unrealized appreciation (depreciation) | — | — | — | — | 4,110,541 | ||||
Net unrealized appreciation (depreciation) | $223,372,178 | $95,141,952 | $21,822,559 | $29,323,789 | $15,611,957 |
Schwab Health Care Fund | Schwab International Core Equity Fund | ||
Undistributed ordinary income | $6,748,836 | $17,944,797 | |
Undistributed long-term capital gains | 13,906,469 | — | |
Unrealized appreciation on investments | 162,628,004 | 46,185,771 | |
Unrealized depreciation on investments | (38,101,789) | (33,658,625) | |
Other unrealized appreciation (depreciation) | (70,050) | (75,164) | |
Net unrealized appreciation (depreciation) | $124,456,165 | $12,451,982 |
Expiration Date | Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Large-Cap Growth Fund | Schwab Small-Cap Equity Fund | Schwab Hedged Equity Fund | ||||
October 31, 2017 | $1,636,581 | $— | $— | $— | $— | ||||
No expiration* | — | 9,117,909 | — | 5,776,732 | — | ||||
Total | $1,636,581 | $9,117,909 | $— | $5,776,732 | $— |
Expiration Date | Schwab Health Care Fund | Schwab International Core Equity Fund | |
October 31, 2017 | $— | $7,906,336 | |
No expiration* | — | 49,872,747 | |
Total | $— | $57,779,083 |
* | As a result of the passage of the Regulated Investment Company Modernization Act of 2010, capital losses incurred after December 31, 2010 may now be carried forward indefinitely, but must retain the character of the original loss. |
Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Large-Cap Growth Fund | Schwab Small-Cap Equity Fund | Schwab Hedged Equity Fund | |
Late-year ordinary losses deferred | $— | $— | $— | $— | $336,330 |
Capital loss carryforwards utilized | 3,143,092 | — | — | — | — |
Capital losses expired | 6,584,673 | — | — | — | — |
Schwab Health Care Fund | Schwab International Core Equity Fund | |
Capital loss carryforwards utilized | $— | $— |
Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Large-Cap Growth Fund | Schwab Small-Cap Equity Fund | Schwab Hedged Equity Fund | |
Current period distributions | |||||
Ordinary income | $91,137,043 | $70,215,756 | $10,837,735 | $11,811,855 | $5,415,180 |
Long-term capital gains | 245,370,769 | 161,290,992 | 25,040,312 | 64,496,426 | 15,502,020 |
Prior period distributions | |||||
Ordinary income | $73,466,144 | $78,202,168 | $1,230,983 | $25,751,786 | $— |
Long-term capital gains | 264,913,205 | 225,404,481 | 25,103,219 | 97,541,227 | 25,864,727 |
Schwab Health Care Fund | Schwab International Core Equity Fund | |
Current period distributions | ||
Ordinary income | $61,724,249 | $13,757,023 |
Long-term capital gains | 94,808,084 | — |
Prior period distributions | ||
Ordinary income | $57,907,541 | $6,699,187 |
Long-term capital gains | 72,753,677 | 8,245,752 |
Schwab Core Equity Fund | Schwab Dividend Equity Fund | Schwab Large-Cap Growth Fund | Schwab Small-Cap Equity Fund | Schwab Hedged Equity Fund | |
Capital shares | ($6,584,673) | $— | $— | $— | $— |
Undistributed net investment income | 308,601 | 104,925 | 112,459 | (359,209) | 717,379 |
Net realized capital gains (losses) | 6,276,072 | (104,925) | (112,459) | 359,209 | (717,379) |
Schwab Health Care Fund | Schwab International Core Equity Fund | |
Capital shares | $— | $— |
Undistributed net investment income | (104,217) | 1,261,436 |
Net realized capital gains (losses) | 104,217 | (1,261,436) |
11. Recent Regulatory Development:
12. Subsequent Events:
Schwab Core Equity Fund
Schwab Dividend Equity Fund
Schwab Large-Cap Growth Fund
Schwab Small-Cap Equity Fund
Schwab Hedged Equity Fund
Schwab Health Care Fund
Schwab International Core Equity Fund
San Francisco, California
December 16, 2016
Percentage | |
Schwab Core Equity Fund | 58.82 |
Schwab Dividend Equity Fund | 85.31 |
Schwab Large-Cap Growth Fund | 43.87 |
Schwab Small-Cap Equity Fund | 48.12 |
Schwab Hedged Equity Fund | 77.94 |
Schwab Health Care Fund | 19.06 |
Schwab International Core Equity Fund | — |
Schwab Core Equity Fund | $54,123,403 |
Schwab Dividend Equity Fund | 60,295,601 |
Schwab Large-Cap Growth Fund | 4,887,426 |
Schwab Small-Cap Equity Fund | 6,044,413 |
Schwab Hedged Equity Fund | 4,353,149 |
Schwab Health Care Fund | 15,827,921 |
Schwab International Core Equity Fund | 15,699,404 |
Schwab Core Equity Fund | $245,370,769 |
Schwab Dividend Equity Fund | 161,290,992 |
Schwab Large-Cap Growth Fund | 25,040,312 |
Schwab Small-Cap Equity Fund | 64,496,426 |
Schwab Hedged Equity Fund | 15,502,020 |
Schwab Health Care Fund | 94,808,084 |
Schwab International Core Equity Fund | — |
1. | the nature, extent and quality of the services provided to the Funds under the Agreement, including the resources of CSIM and its affiliates dedicated to the Funds; |
2. | each Fund’s investment performance and how it compared to that of certain other comparable mutual funds; |
3. | each Fund’s expenses and how those expenses compared to those of certain other comparable mutual funds, exchange-traded funds and other accounts; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to CSIM and its affiliates; and |
5. | the extent to which economies of scale would be realized as the Funds grow and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor (Jan. 2009 – present). Formerly, Managing Director, Pacific Investment Management Company, LLC (PIMCO) and President, PIMCO Funds. | 108 | Director, PS Business Parks, Inc. (2005 – 2012) |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Fellow, The Hoover Institution at Stanford University (Oct. 1979 – present); Senior Fellow, Stanford Institute for Economic Policy Research (2000 – present); Professor of Public Policy, Stanford University (1994 – 2015). | 108 | Director, Gilead Sciences, Inc. (2005 – present) |
Stephen Timothy Kochis 1946 Trustee (Trustee of Schwab Strategic Trust since 2012; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | CEO and Owner, Kochis Global (wealth management consulting) (May 2012 – present); Chairman and CEO, Aspiriant, LLC (wealth management) (Jan. 2008 – Apr. 2012). | 108 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 108 | Director, Symantec Corporation (2003 – present) Director, Corcept Therapeutics Incorporated (2004 – present) Director, Adamas Pharmaceuticals, Inc. (2009 – present) |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. Executive Vice President and General Manager of Small Business Group, Intuit, Inc. (financial software and services firm for consumers and small businesses) (Dec. 2008 – Sept. 2013). | 108 | Director, KLA-Tencor Corporation (2008 – present) |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant, Patmore Management Consulting (management consulting) (2008 – present). | 108 | None |
Charles A. Ruffel 1956 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2015) | Co-Chief Executive Officer, Kudu Investment Management, LLC (financial services) (Jan. 2015 – present); Partner, Kudu Advisors, LLC (financial services) (June 2008 – Jan. 2015); Advisor, Asset International, Inc. (publisher of financial services information) (Aug. 2008 – Jan. 2015). | 108 | None |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Chairman, Chief Executive Officer and Founder of Smith Graham & Co. (investment advisors) (Mar. 1990 – present). | 108 | Director, Eaton (2012 – present) Director and Chairman of the Audit Committee, Oneok Partners LP (2003 – 2013) Director, Oneok, Inc. (2009 – 2013) Lead Independent Director, Board of Cooper Industries (2002 – 2012) |
Joseph H. Wender 1944 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Consultant, Goldman Sachs & Co., Inc. (investment banking and securities firm) (Jan. 2008 – present); Partner, Colgin Partners, LLC (vineyards) (Feb. 1998 – present). | 108 | Board Member and Chairman of the Audit Committee, Ionis Pharmaceuticals (1994 – present) Lead Independent Director and Chair of Audit Committee, OUTFRONT Media Inc. (2014 – present) |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Director, President and Chief Executive Officer, The Charles Schwab Corporation (Oct. 2008 – present); President and Chief Executive Officer (Oct. 2008 – present), Director (May 2008 – present), Charles Schwab & Co., Inc.; Director, Charles Schwab Bank (Apr. 2006 – present); and Director, Schwab Holdings, Inc. (May 2008 – present). | 108 | Director, The Charles Schwab Corporation (2008 – present) |
Marie A. Chandoha2 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; Trustee (Jan. 2016 – present), President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Jan. 2011 – present); Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (Mar. 2007 – Aug. 2010). | 108 | None |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Senior Executive Vice President and Chief Financial Officer, The Charles Schwab Corporation and Charles Schwab & Co., Inc. (July 2015 – present); Executive Vice President and Chief Financial Officer of The Charles Schwab Corporation and Charles Schwab & Co., Inc. (May 2007 – July 2015); Director, Charles Schwab & Co., Inc. (May 2007 – present); Director (Apr. 2010 – present) and Chief Executive Officer (July 2013 – Apr. 2015), Charles Schwab Bank; Director, Executive Vice President and Chief Financial Officer, Schwab Holdings, Inc. (May 2007 – present). | 108 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Marie A. Chandoha 1961 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2010) | Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; Trustee (Jan. 2016 – present), President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Jan. 2011 – present); Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (Mar. 2007 – Aug. 2010). |
Mark Fischer 1970 Treasurer and Chief Financial Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer, Schwab Funds, Laudus Funds and Schwab ETFs (Jan. 2016 – present); Assistant Treasurer, Schwab Funds and Laudus Funds (Dec. 2013 – Dec. 2015), Schwab ETFs (Nov. 2013 – Dec. 2015); Vice President, Charles Schwab Investment Management, Inc. (Oct. 2013 – present); Executive Director, J.P. Morgan Investor Services (Apr. 2011 – Sept. 2013); Assistant Treasurer, Massachusetts Financial Service Investment Management (May 2005 – Mar. 2011). |
Officers of the Trust (continued) | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
George Pereira 1964 Senior Vice President and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2004; Laudus Trust since 2006; Schwab Strategic Trust since 2009) | Senior Vice President and Chief Financial Officer (Nov. 2004 – present), Chief Operating Officer (Jan. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Operating Officer (Jan. 2016 – present), Treasurer and Chief Financial Officer, Laudus Funds (June 2006 – Dec. 2015); Treasurer and Principal Financial Officer, Schwab Funds (Nov. 2004 – Dec. 2015) and Schwab ETFs (Oct. 2009 – Dec. 2015); Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Apr. 2005 – present). |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies, Charles Schwab Investment Management, Inc. (Apr. 2011 – present); Senior Vice President and Chief Investment Officer – Equities, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Head of the Portfolio Management Group and Vice President of Portfolio Management, Financial Engines, Inc. (May 2009 – Apr. 2011); Head of Quantitative Equity, ING Investment Management (July 2004 – Jan. 2009). |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer – Fixed Income, Charles Schwab Investment Management, Inc. (Apr. 2011 – present); Senior Vice President and Chief Investment Officer – Fixed Income, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Senior Managing Director, Global Head of Active Fixed-Income Strategies, State Street Global Advisors (Jan. 2008 – Oct. 2010); Director of Alpha Strategies Loomis, Sayles & Company (Apr. 2006 – Jan. 2008). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President (Sept. 2011 – present), Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present), Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (Apr. 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk, Laudus Funds (Apr. 2011 – present); Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Vice President, Charles Schwab & Co., Inc., Charles Schwab Investment Management, Inc. (July 2005 – present); Vice President (Dec. 2005 – present), Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary, Schwab ETFs (Oct. 2009 – present). |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger, Ms. Chandoha, and Mr. Martinetto are Interested Trustees because they own stock of The Charles Schwab Corporation, the parent company of the investment adviser. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
THIS IS NOT PART OF THE SHAREHOLDER REPORT
INFORMATION.
INFORMATION.
Partnership
Member SIPC®
Printed on recycled paper.
1 | You could lose money by investing in a money market fund. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Effective October 14, 2016, all Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The money market fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time. |
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Table of Contents
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Total Return for the 12 Months Ended October 31, 2016 | |
Schwab Balanced Fund (Ticker Symbol: SWOBX) | 1.41% |
Balanced Blended Index | 4.32% |
Fund Category: Morningstar Allocation—50% to 70% Equity | 2.75% |
Performance Details | pages 8-10 |
Minimum Initial Investment1 | $ 100 |
1 | Please see the fund’s prospectus for further detail and eligibility requirements. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g21046imgad0554382.jpg)
President and CEO of
Charles Schwab Investment
Management, Inc. and the
fund covered in this report.
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g21046imged21f59a3.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g21046imga7a159d44.jpg)
![]() | Zifan Tang, Ph.D., CFA, Managing Director, Senior Portfolio Manager, leads the portfolio management team and has overall responsibility for all aspects of the management of the fund. She was appointed portfolio manager of the fund in February 2012. Prior to joining CSIM in 2012, Ms. Tang was a product manager at Thomson Reuters and, from 1997 to 2009, worked as a portfolio manager at Barclays Global Investors, which was subsequently acquired by BlackRock. |
Number of Holdings | 6 |
Portfolio Turnover Rate | 19% |
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1 | This list is not a recommendation of any security by the investment adviser. |
2 | The holdings listed exclude any temporary liquidity investments. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g21046lg_2m8c.jpg)
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Balanced Fund (11/18/96) | 1.41% | 8.15% | 5.08% |
Balanced Blended Index | 4.32% | 8.96% | 6.00% |
S&P 500® Index | 4.51% | 13.57% | 6.70% |
Bloomberg Barclays U.S. Aggregate Bond Index | 4.37% | 2.90% | 4.64% |
Fund Category: Morningstar Allocation—50% to 70% Equity | 2.75% | 7.36% | 4.76% |
Fund Expense Ratios3: Net 0.62%; Gross 0.69% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.62%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
As a fund shareholder, you may incur two types of costs: (1) transaction costs, such as redemption fees; and (2) ongoing costs, including management fees, transfer agent and shareholder services fees, and other fund expenses.
Expense Ratio (Annualized)1 | Beginning Account Value at 5/1/16 | Ending Account Value (Net of Expenses) at 10/31/16 | Expenses Paid During Period 5/1/16-10/31/162 | |
Schwab Balanced Fund | ||||
Actual Return | 0.00% | $1,000.00 | $1,031.30 | $0.00 |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.10 | $0.00 |
1 | Based on the most recent six-month expense ratio; may differ from the expense ratio provided in the Financial Highlights which covers a 12-month period. The expenses incurred by the underlying funds in which the fund invests are not included in this ratio. This ratio does not include certain non-routine expenses, such as proxy expenses. |
2 | Expenses for the fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by the 366 days of the fiscal year. |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $15.40 | $15.56 | $14.28 | $12.51 | $11.61 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.19 | 0.18 | 0.16 | 0.14 | 0.19 | |
Net realized and unrealized gains (losses) | 0.00 2 | 0.42 | 1.33 | 1.85 | 0.88 | |
Total from investment operations | 0.19 | 0.60 | 1.49 | 1.99 | 1.07 | |
Less distributions: | ||||||
Distributions from net investment income | (0.32) | (0.34) | (0.21) | (0.22) | (0.17) | |
Distributions from net realized gains | (0.76) | (0.42) | — | — | — | |
Total distributions | (1.08) | (0.76) | (0.21) | (0.22) | (0.17) | |
Net asset value at end of period | $14.51 | $15.40 | $15.56 | $14.28 | $12.51 | |
Total return | 1.41% | 3.95% | 10.52% | 16.13% | 9.36% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses3,4 | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | |
Gross operating expenses3 | 0.06% | 0.07% | 0.09% | 0.10% | 0.16% | |
Net investment income (loss) | 1.34% | 1.18% | 1.09% | 1.06% | 1.54% | |
Portfolio turnover rate | 19% | 5% | 27% | 33% | 38% | |
Net assets, end of period (x 1,000,000) | $282 | $305 | $202 | $165 | $117 | |
Holdings by Category | Cost ($) | Value ($) | |
100.0% | Other Investment Companies | 272,470,800 | 281,956,025 |
100.0% | Total Investments | 272,470,800 | 281,956,025 |
(0.0%) | Other Assets and Liabilities, Net | (137,559) | |
100.0% | Net Assets | 281,818,466 |
Security | Number of Shares | Value ($) |
Other Investment Companies 100.0% of net assets | ||
Equity Funds 59.8% | ||
Large-Cap 50.0% | ||
Laudus U.S. Large Cap Growth Fund *(a) | 2,515,641 | 42,212,464 |
Schwab Core Equity Fund (a) | 5,023,249 | 98,706,846 |
140,919,310 | ||
Small-Cap 9.8% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares *(a) | 1,668,454 | 27,612,913 |
168,532,223 | ||
Fixed-Income Funds 37.3% | ||
Intermediate-Term Bond 37.3% | ||
Schwab Intermediate-Term Bond Fund (a) | 3,296,863 | 33,957,690 |
Schwab Total Bond Market Fund (a) | 7,384,445 | 71,259,891 |
105,217,581 | ||
Security | Number of Shares | Value ($) |
Money Market Fund 2.9% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.26% (b) | 8,206,221 | 8,206,221 |
Total Other Investment Companies | ||
(Cost $272,470,800) | 281,956,025 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the 7-day yield. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Other Investment Companies1 | $281,956,025 | $— | $— | $281,956,025 | |
Total | $281,956,025 | $— | $— | $281,956,025 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $264,264,579) | $273,749,804 | |
Investments in unaffiliated issuers, at value (cost $8,206,221) | + | 8,206,221 |
Total investments, at value (cost $272,470,800) | 281,956,025 | |
Receivables: | ||
Fund shares sold | 290,201 | |
Dividends | 189,021 | |
Prepaid expenses | + | 18,151 |
Total assets | 282,453,398 | |
Liabilities | ||
Payables: | ||
Investments bought | 168,778 | |
Fund shares redeemed | 428,661 | |
Accrued expenses | + | 37,493 |
Total liabilities | 634,932 | |
Net Assets | ||
Total assets | 282,453,398 | |
Total liabilities | – | 634,932 |
Net assets | $281,818,466 | |
Net Assets by Source | ||
Capital received from investors | 256,374,517 | |
Net investment income not yet distributed | 1,863,577 | |
Net realized capital gains | 14,095,147 | |
Net unrealized capital appreciation | 9,485,225 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$281,818,466 | 19,422,015 | $14.51 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $3,826,541 | |
Dividends received from unaffiliated underlying funds | + | 16,752 |
Total investment income | 3,843,293 | |
Expenses | ||
Shareholder reports | 40,909 | |
Registration fees | 40,712 | |
Professional fees | 28,147 | |
Portfolio accounting fees | 17,247 | |
Transfer agent fees | 16,746 | |
Independent trustees' fees | 9,655 | |
Proxy fees | 7,379 | |
Custodian fees | 1,832 | |
Interest expense | 36 | |
Other expenses | + | 4,339 |
Total expenses | 167,002 | |
Expense reduction by CSIM | – | 159,587 |
Net expenses | – | 7,415 |
Net investment income | 3,835,878 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 17,455,377 | |
Net realized gains on sales of affiliated underlying funds | + | 1,982,418 |
Net realized gains | 19,437,795 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (19,051,501) |
Net realized and unrealized gains | 386,294 | |
Increase in net assets resulting from operations | $4,222,172 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $3,835,878 | $2,857,135 | ||
Net realized gains | 19,437,795 | 16,386,818 | ||
Net change in unrealized appreciation (depreciation) | + | (19,051,501) | (9,772,217) | |
Increase in net assets from operations | 4,222,172 | 9,471,736 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (6,125,816) | (4,612,433) | ||
Distributions from net realized gains | + | (14,319,966) | (5,780,880) | |
Total distributions | ($20,445,782) | ($10,393,313) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 5,997,037 | $86,468,453 | 9,167,626 | $139,981,488 | ||||
Shares reinvested | 1,316,822 | 18,725,208 | 628,361 | 9,532,242 | ||||
Shares redeemed | + | (7,731,157) | (112,621,617) | (2,913,119) | (44,685,668) | |||
Net transactions in fund shares | (417,298) | ($7,427,956) | 6,882,868 | $104,828,062 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 19,839,313 | $305,470,032 | 12,956,445 | $201,563,547 | ||||
Total increase or decrease | + | (417,298) | (23,651,566) | 6,882,868 | 103,906,485 | |||
End of period | 19,422,015 | $281,818,466 | 19,839,313 | $305,470,032 | ||||
Net investment income not yet distributed | $1,863,577 | $1,469,990 |
SCHWAB CAPITAL TRUST (ORGANIZED MAY 7, 1993) | |
Schwab Balanced Fund | Schwab Target 2045 Fund |
Schwab ® S&P 500 Index Fund | Schwab Target 2050 Fund |
Schwab Small-Cap Index Fund® | Schwab Target 2055 Fund |
Schwab Total Stock Market Index Fund® | Schwab Target 2060 Fund |
Schwab International Index Fund® | Schwab Fundamental US Large Company Index Fund |
Schwab MarketTrack All Equity Portfolio™ | Schwab Fundamental US Small Company Index Fund |
Schwab MarketTrack Growth Portfolio™ | Schwab Fundamental International Large Company Index Fund |
Schwab MarketTrack Balanced Portfolio™ | Schwab Fundamental International Small Company Index Fund |
Schwab MarketTrack Conservative Portfolio™ | Schwab Fundamental Emerging Markets Large Company Index Fund |
Laudus Small-Cap MarketMasters Fund™ | Schwab Fundamental Global Real Estate Index Fund |
Laudus International MarketMasters Fund™ | Schwab Target 2010 Index Fund |
Schwab Core Equity Fund™ | Schwab Target 2015 Index Fund |
Schwab Dividend Equity Fund™ | Schwab Target 2020 Index Fund |
Schwab Large-Cap Growth Fund™ | Schwab Target 2025 Index Fund |
Schwab Small-Cap Equity Fund™ | Schwab Target 2030 Index Fund |
Schwab Hedged Equity Fund™ | Schwab Target 2035 Index Fund |
Schwab Health Care Fund™ | Schwab Target 2040 Index Fund |
Schwab ® International Core Equity Fund | Schwab Target 2045 Index Fund |
Schwab Target 2010 Fund | Schwab Target 2050 Index Fund |
Schwab Target 2015 Fund | Schwab Target 2055 Index Fund |
Schwab Target 2020 Fund | Schwab Target 2060 Index Fund |
Schwab Target 2025 Fund | Schwab ® Monthly Income Fund - Moderate Payout |
Schwab Target 2030 Fund | Schwab ® Monthly Income Fund - Enhanced Payout |
Schwab Target 2035 Fund | Schwab ® Monthly Income Fund - Maximum Payout |
Schwab Target 2040 Fund |
2. Significant Accounting Policies:
3. Risk Factors:
4. Affiliates and Affiliated Transactions:
Laudus Small-Cap MarketMasters Fund, Select Shares | 17.9% |
Laudus U.S. Large Cap Growth Fund | 2.2% |
Schwab Core Equity Fund | 4.8% |
Schwab Intermediate-Term Bond Fund | 9.7% |
Schwab Total Bond Market Fund | 5.1% |
Underlying Funds | Balance of Shares Held at 10/31/15 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/16 | Market Value at 10/31/16 | Realized Gains (Losses) 11/01/15 to 10/31/16 | Distributions Received* 11/01/15 to 10/31/16 | ||
Laudus Small-Cap MarketMasters Fund, Select Shares | 1,791,811 | 304,143 | (427,500) | 1,668,454 | $27,612,913 | $285,540 | $1,780,576 | ||
Laudus U.S. Large Cap Growth Fund | 2,611,438 | 422,802 | (518,599) | 2,515,641 | 42,212,464 | 429,287 | 2,662,096 | ||
Schwab Core Equity Fund | 4,640,638 | 1,385,880 | (1,003,269) | 5,023,249 | 98,706,846 | 978,732 | 14,537,459 | ||
Schwab Intermediate-Term Bond Fund | 3,504,525 | 513,500 | (721,162) | 3,296,863 | 33,957,690 | 26,293 | 710,613 | ||
Schwab Total Bond Market Fund | 7,899,025 | 1,013,288 | (1,527,868) | 7,384,445 | 71,259,891 | 262,566 | 1,591,174 | ||
Total | $273,749,804 | $1,982,418 | $21,281,918 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
5. Board of Trustees:
6. Borrowing from Banks:
7. Purchases and Sales/Maturities of Investment Securities:
Purchases of Securities | Sales/Maturities of Securities |
$53,627,666 | $58,820,000 |
8. Redemption Fee:
Current Period (11/1/15-10/31/16) | Prior Period (11/1/14-10/31/15) |
$6,464 | $46,338 |
9. Federal Income Taxes:
Undistributed ordinary income | $3,804,930 |
Undistributed long-term capital gains | 14,943,943 |
Unrealized appreciation on investments | 6,695,076 |
Net unrealized appreciation (depreciation) | $6,695,076 |
Current period distributions | |
Ordinary income | $6,797,035 |
Long-term capital gains | 13,648,747 |
Prior period distributions | |
Ordinary income | $4,612,433 |
Long-term capital gains | 5,780,880 |
Capital shares | $— |
Undistributed net investment income | 2,683,525 |
Net realized capital gains (losses) | (2,683,525) |
10. Recent Regulatory Development:
11. Subsequent Events:
Schwab Balanced Fund
San Francisco, California
December 16, 2016
1. | the nature, extent and quality of the services provided to the Fund under the Agreement, including the resources of CSIM and its affiliates dedicated to the Fund; |
2. | the Fund’s investment performance and how it compared to that of certain other comparable mutual funds; |
3. | the Fund’s expenses and how those expenses compared to those of certain other comparable mutual funds, exchange-traded funds and other accounts; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to the Fund, including both direct and indirect benefits accruing to CSIM and its affiliates; and |
5. | the extent to which economies of scale would be realized as the Fund grows and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor (Jan. 2009 – present). Formerly, Managing Director, Pacific Investment Management Company, LLC (PIMCO) and President, PIMCO Funds. | 108 | Director, PS Business Parks, Inc. (2005 – 2012) |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Fellow, The Hoover Institution at Stanford University (Oct. 1979 – present); Senior Fellow, Stanford Institute for Economic Policy Research (2000 – present); Professor of Public Policy, Stanford University (1994 – 2015). | 108 | Director, Gilead Sciences, Inc. (2005 – present) |
Stephen Timothy Kochis 1946 Trustee (Trustee of Schwab Strategic Trust since 2012; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | CEO and Owner, Kochis Global (wealth management consulting) (May 2012 – present); Chairman and CEO, Aspiriant, LLC (wealth management) (Jan. 2008 – Apr. 2012). | 108 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 108 | Director, Symantec Corporation (2003 – present) Director, Corcept Therapeutics Incorporated (2004 – present) Director, Adamas Pharmaceuticals, Inc. (2009 – present) |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. Executive Vice President and General Manager of Small Business Group, Intuit, Inc. (financial software and services firm for consumers and small businesses) (Dec. 2008 – Sept. 2013). | 108 | Director, KLA-Tencor Corporation (2008 – present) |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant, Patmore Management Consulting (management consulting) (2008 – present). | 108 | None |
Charles A. Ruffel 1956 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2015) | Co-Chief Executive Officer, Kudu Investment Management, LLC (financial services) (Jan. 2015 – present); Partner, Kudu Advisors, LLC (financial services) (June 2008 – Jan. 2015); Advisor, Asset International, Inc. (publisher of financial services information) (Aug. 2008 – Jan. 2015). | 108 | None |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Chairman, Chief Executive Officer and Founder of Smith Graham & Co. (investment advisors) (Mar. 1990 – present). | 108 | Director, Eaton (2012 – present) Director and Chairman of the Audit Committee, Oneok Partners LP (2003 – 2013) Director, Oneok, Inc. (2009 – 2013) Lead Independent Director, Board of Cooper Industries (2002 – 2012) |
Joseph H. Wender 1944 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Consultant, Goldman Sachs & Co., Inc. (investment banking and securities firm) (Jan. 2008 – present); Partner, Colgin Partners, LLC (vineyards) (Feb. 1998 – present). | 108 | Board Member and Chairman of the Audit Committee, Ionis Pharmaceuticals (1994 – present) Lead Independent Director and Chair of Audit Committee, OUTFRONT Media Inc. (2014 – present) |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Director, President and Chief Executive Officer, The Charles Schwab Corporation (Oct. 2008 – present); President and Chief Executive Officer (Oct. 2008 – present), Director (May 2008 – present), Charles Schwab & Co., Inc.; Director, Charles Schwab Bank (Apr. 2006 – present); and Director, Schwab Holdings, Inc. (May 2008 – present). | 108 | Director, The Charles Schwab Corporation (2008 – present) |
Marie A. Chandoha2 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; Trustee (Jan. 2016 – present), President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Jan. 2011 – present); Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (Mar. 2007 – Aug. 2010). | 108 | None |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Senior Executive Vice President and Chief Financial Officer, The Charles Schwab Corporation and Charles Schwab & Co., Inc. (July 2015 – present); Executive Vice President and Chief Financial Officer of The Charles Schwab Corporation and Charles Schwab & Co., Inc. (May 2007 – July 2015); Director, Charles Schwab & Co., Inc. (May 2007 – present); Director (Apr. 2010 – present) and Chief Executive Officer (July 2013 – Apr. 2015), Charles Schwab Bank; Director, Executive Vice President and Chief Financial Officer, Schwab Holdings, Inc. (May 2007 – present). | 108 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Marie A. Chandoha 1961 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2010) | Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; Trustee (Jan. 2016 – present), President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Jan. 2011 – present); Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (Mar. 2007 – Aug. 2010). |
Mark Fischer 1970 Treasurer and Chief Financial Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer, Schwab Funds, Laudus Funds and Schwab ETFs (Jan. 2016 – present); Assistant Treasurer, Schwab Funds and Laudus Funds (Dec. 2013 – Dec. 2015), Schwab ETFs (Nov. 2013 – Dec. 2015); Vice President, Charles Schwab Investment Management, Inc. (Oct. 2013 – present); Executive Director, J.P. Morgan Investor Services (Apr. 2011 – Sept. 2013); Assistant Treasurer, Massachusetts Financial Service Investment Management (May 2005 – Mar. 2011). |
Officers of the Trust (continued) | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
George Pereira 1964 Senior Vice President and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2004; Laudus Trust since 2006; Schwab Strategic Trust since 2009) | Senior Vice President and Chief Financial Officer (Nov. 2004 – present), Chief Operating Officer (Jan. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Operating Officer (Jan. 2016 – present), Treasurer and Chief Financial Officer, Laudus Funds (June 2006 – Dec. 2015); Treasurer and Principal Financial Officer, Schwab Funds (Nov. 2004 – Dec. 2015) and Schwab ETFs (Oct. 2009 – Dec. 2015); Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Apr. 2005 – present). |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies, Charles Schwab Investment Management, Inc. (Apr. 2011 – present); Senior Vice President and Chief Investment Officer – Equities, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Head of the Portfolio Management Group and Vice President of Portfolio Management, Financial Engines, Inc. (May 2009 – Apr. 2011); Head of Quantitative Equity, ING Investment Management (July 2004 – Jan. 2009). |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer – Fixed Income, Charles Schwab Investment Management, Inc. (Apr. 2011 – present); Senior Vice President and Chief Investment Officer – Fixed Income, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Senior Managing Director, Global Head of Active Fixed-Income Strategies, State Street Global Advisors (Jan. 2008 – Oct. 2010); Director of Alpha Strategies Loomis, Sayles & Company (Apr. 2006 – Jan. 2008). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President (Sept. 2011 – present), Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present), Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (Apr. 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk, Laudus Funds (Apr. 2011 – present); Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Vice President, Charles Schwab & Co., Inc., Charles Schwab Investment Management, Inc. (July 2005 – present); Vice President (Dec. 2005 – present), Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary, Schwab ETFs (Oct. 2009 – present). |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger, Ms. Chandoha, and Mr. Martinetto are Interested Trustees because they own stock of The Charles Schwab Corporation, the parent company of the investment adviser. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
THIS IS NOT PART OF THE SHAREHOLDER REPORT
INFORMATION.
INFORMATION.
Partnership
Member SIPC®
Printed on recycled paper.
1 | You could lose money by investing in a money market fund. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Effective October 14, 2016, all Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The money market fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time. |
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00186672
Table of Contents
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Index Fund®
Index Fund®
Total Return for the 12 Months Ended October 31, 2016 | |
Schwab S&P 500 Index Fund (Ticker Symbol: SWPPX) | 4.40% |
S&P 500® Index | 4.51% |
Fund Category: Morningstar Large Blend | 2.12% |
Performance Details | pages 8-10 |
Schwab 1000 Index Fund (Ticker Symbol: SNXFX) | 3.87% |
Schwab 1000 Index® | 4.14% |
Fund Category: Morningstar Large Blend | 2.12% |
Performance Details | pages 11-13 |
Schwab Small-Cap Index Fund (Ticker Symbol: SWSSX) | 4.17% |
Russell 2000® Index | 4.11% |
Fund Category: Morningstar Small Blend | 2.91% |
Performance Details | pages 14-16 |
Schwab Total Stock Market Index Fund (Ticker Symbol: SWTSX) | 4.19% |
Dow Jones U.S. Total Stock Market IndexSM | 4.21% |
Fund Category: Morningstar Large Blend | 2.12% |
Performance Details | pages 17-19 |
Schwab International Index Fund1 (Ticker Symbol: SWISX) | -2.64% |
MSCI EAFE® Index (Net)2 | -3.23% |
Fund Category: Morningstar Foreign Large Blend | -2.08% |
Performance Details | pages 20-22 |
Minimum Initial Investment3 | $ 100 |
1 | The fund’s performance relative to the index may be affected by fair-value pricing and timing differences in foreign exchange calculations. See financial note 2 for more information. |
2 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
3 | Please see the funds’ prospectus for further detail and eligibility requirements. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g20940imga3d1d9be2.jpg)
President and CEO of
Charles Schwab Investment
Management, Inc. and the
funds covered in this report.
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![]() | Agnes Hong, CFA, Vice President and Senior Portfolio Manager, is responsible for the day-to-day co-management of the funds. Prior to joining CSIM in 2009, Ms. Hong spent five years as a portfolio manager at Barclays Global Investors (subsequently acquired by BlackRock), where she managed institutional index funds and quantitative active funds. Prior to that, Ms. Hong worked in management consulting and product management, servicing global financial services clients. |
![]() | Ferian Juwono, CFA, Managing Director and Senior Portfolio Manager, is responsible for the day-to-day co-management of the funds. Prior to joining CSIM in 2010, Mr. Juwono worked at BlackRock (formerly Barclays Global Investors), where he spent more than three years as a portfolio manager, managing equity index funds for institutional clients, and nearly two years as a senior business analyst. Prior to that, Mr. Juwono worked for more than four years as a senior financial analyst with Union Bank of California. |
![]() | David Rios, Portfolio Manager, is responsible for the day-to-day co-management of the Schwab S&P 500 Index Fund, Schwab 1000 Index Fund, and Schwab Small-Cap Index Fund. He joined CSIM in 2008 and became a Portfolio Manager in September 2014. Prior to this role, Mr. Rios served as an Associate Portfolio Manager on the Schwab Equity Index Strategies team for four years. His first role with CSIM was as a trade operation specialist. He also previously worked as a senior fund accountant at Investors Bank & Trust (subsequently acquired by State Street Corporation). |
Number of Holdings | 509 |
Weighted Average Market Cap (millions) | $145,391 |
Price/Earnings Ratio (P/E) | 19.3 |
Price/Book Ratio (P/B) | 2.6 |
Portfolio Turnover Rate | 2% |
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1 | This list is not a recommendation of any security by the investment adviser. |
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Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab S&P 500 Index Fund (5/19/97) | 4.40% | 13.46% | 6.66% |
S&P 500® Index | 4.51% | 13.57% | 6.70% |
Fund Category: Morningstar Large Blend | 2.12% | 11.90% | 5.80% |
Fund Expense Ratio4: 0.09% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On September 9, 2009, the Investor Share class, Select Share class and e.Shares class were combined into a single class of shares of the fund. The performance history of the fund prior to September 9, 2009 is that of the fund’s former Select Shares. On September 9, 2009, the Schwab Institutional Select S&P 500 Fund merged into the fund. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Reflects the total annual fund operating expenses without contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 927 1 |
Weighted Average Market Cap (millions) | $131,531 |
Price/Earnings Ratio (P/E) | 19.5 |
Price/Book Ratio (P/B) | 2.6 |
Portfolio Turnover Rate | 3% |
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1 | As a result of the Schwab 1000 Index’s once per year reconstitution and the effects of certain corporate actions, the fund may hold less than 1,000 securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
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Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab 1000 Index Fund (4/2/91) | 3.87% | 13.09% | 6.57% |
Schwab 1000 Index® | 4.14% | 13.39% | 6.87% |
S&P 500® Index | 4.51% | 13.57% | 6.70% |
Fund Category: Morningstar Large Blend | 2.12% | 11.90% | 5.80% |
Fund Expense Ratios4: Net 0.29%; Gross 0.33% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On September 18, 2009, the Investor Share class and Select Share class were combined into a single class of shares of the fund. The performance history of the fund prior to September 18, 2009 is that of the fund’s former Investor Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 1,963 |
Weighted Average Market Cap (millions) | $1,822 |
Price/Earnings Ratio (P/E) | 19.7 |
Price/Book Ratio (P/B) | 1.9 |
Portfolio Turnover Rate | 17% |
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1 | This list is not a recommendation of any security by the investment adviser. |
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Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Small-Cap Index Fund (5/19/97) | 4.17% | 11.48% | 6.91% |
Russell 2000® Index | 4.11% | 11.51% | 5.96% |
Small-Cap Spliced Index | 4.11% | 11.42% | 6.96% |
Fund Category: Morningstar Small Blend | 2.91% | 10.53% | 5.71% |
Fund Expense Ratios4: Net 0.17%; Gross 0.20% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On August 21, 2009, the Investor Share class and Select Share class were combined into a single class of shares of the fund. The performance history of the fund prior to August 21, 2009 is that of the fund’s former Select Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 2,405 |
Weighted Average Market Cap (millions) | $120,352 |
Price/Earnings Ratio (P/E) | 19.5 |
Price/Book Ratio (P/B) | 2.5 |
Portfolio Turnover Rate | 1% |
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1 | This list is not a recommendation of any security by the investment adviser. |
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Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Total Stock Market Index Fund (6/1/99) | 4.19% | 13.24% | 6.90% |
Dow Jones U.S. Total Stock Market IndexSM | 4.21% | 13.29% | 6.87% |
Fund Category: Morningstar Large Blend | 2.12% | 11.90% | 5.80% |
Fund Expense Ratios4: Net 0.09%; Gross 0.11% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On September 18, 2009, the Investor Share class and Select Share class were combined into a single class of shares of the fund. The performance history of the fund prior to September 18, 2009 is that of the fund’s former Select Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
1 | Typically, the securities in the index are valued using foreign exchange rates obtained at the close of the London foreign currency exchange (11:00 AM EST). Securities in the fund, however, are valued using foreign exchange rates obtained at the close of the New York foreign currency exchange (4:00 PM EST). This difference in closing times can result in different foreign currency exchange rates between the two exchanges, and thus different foreign currency exchange rates used in the valuation of the index’s and fund’s securities. |
Number of Holdings | 945 |
Weighted Average Market Cap (millions) | $52,544 |
Price/Earnings Ratio (P/E) | 17.3 |
Price/Book Ratio (P/B) | 1.6 |
Portfolio Turnover Rate | 4% |
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1 | This list is not a recommendation of any security by the investment adviser. |
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Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab International Index Fund (5/19/97) | -2.64% | 5.17% | 1.33% |
MSCI EAFE® Index (Net)4 | -3.23% | 4.99% | 1.22% |
International Spliced Index | -3.23% | 5.09% | 1.47% |
Fund Category: Morningstar Foreign Large Blend | -2.08% | 4.69% | 1.14% |
Fund Expense Ratios5: Net 0.19%; Gross 0.23% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On August 21, 2009, the Investor Share class and Select Share class were combined into a single class of shares of the fund. The performance history of the fund prior to August 21, 2009 is that of the fund’s former Select Shares. |
3 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
4 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
5 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
As a fund shareholder, you may incur two types of costs: (1) transaction costs, such as redemption fees; and (2) ongoing costs, including management fees, transfer agent and shareholder services fees, and other fund expenses.
Expense Ratio (Annualized)1 | Beginning Account Value at 5/1/16 | Ending Account Value (Net of Expenses) at 10/31/16 | Expenses Paid During Period 5/1/16-10/31/162 | |
Schwab S&P 500 Index Fund | ||||
Actual Return | 0.09% | $1,000.00 | $1,040.20 | $0.46 |
Hypothetical 5% Return | 0.09% | $1,000.00 | $1,024.65 | $0.46 |
Schwab 1000 Index Fund | ||||
Actual Return | 0.29% | $1,000.00 | $1,040.30 | $1.49 |
Hypothetical 5% Return | 0.29% | $1,000.00 | $1,023.64 | $1.48 |
Schwab Small-Cap Index Fund | ||||
Actual Return | 0.17% | $1,000.00 | $1,061.40 | $0.88 |
Hypothetical 5% Return | 0.17% | $1,000.00 | $1,024.25 | $0.87 |
Schwab Total Stock Market Index Fund | ||||
Actual Return | 0.09% | $1,000.00 | $1,041.70 | $0.46 |
Hypothetical 5% Return | 0.09% | $1,000.00 | $1,024.65 | $0.46 |
Schwab International Index Fund | ||||
Actual Return | 0.19% | $1,000.00 | $1,007.50 | $0.96 |
Hypothetical 5% Return | 0.19% | $1,000.00 | $1,024.14 | $0.97 |
1 | Based on the most recent six-month expense ratio; may differ from the expense ratio provided in the Financial Highlights which covers a 12- month period. This ratio does not include certain non-routine expenses, such as proxy expenses. |
2 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by the 366 days of the fiscal year. |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $33.00 | $31.99 | $27.78 | $22.35 | $19.82 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.69 1 | 0.67 1 | 0.56 | 0.52 | 0.44 | |
Net realized and unrealized gains (losses) | 0.69 | 0.92 | 4.13 | 5.40 | 2.49 | |
Total from investment operations | 1.38 | 1.59 | 4.69 | 5.92 | 2.93 | |
Less distributions: | ||||||
Distributions from net investment income | (0.68) | (0.58) | (0.48) | (0.49) | (0.40) | |
Distributions from net realized gains | (0.32) | — | — | — | — | |
Total distributions | (1.00) | (0.58) | (0.48) | (0.49) | (0.40) | |
Net asset value at end of period | $33.38 | $33.00 | $31.99 | $27.78 | $22.35 | |
Total return | 4.40% | 5.10% | 17.16% | 27.06% | 15.09% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.09% | 0.09% | 0.09% | 0.09% | 0.09% | |
Gross operating expenses | 0.09% | 0.09% | 0.09% | 0.09% | 0.10% | |
Net investment income (loss) | 2.12% | 2.07% | 1.89% | 2.10% | 2.09% | |
Portfolio turnover rate | 2% | 2% | 2% | 1% | 2% | |
Net assets, end of period (x 1,000,000) | $22,675 | $21,587 | $20,473 | $17,121 | $12,687 | |
Holdings by Category | Cost ($) | Value ($) | |
99.2% | Common Stock | 12,998,840,544 | 22,513,476,544 |
0.1% | Other Investment Company | 13,893,103 | 13,893,103 |
0.5% | Short-Term Investments | 112,832,837 | 112,832,837 |
99.8% | Total Investments | 13,125,566,484 | 22,640,202,484 |
0.2% | Other Assets and Liabilities, Net | 34,334,702 | |
100.0% | Net Assets | 22,674,537,186 |
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 99.2% of net assets | ||||
Automobiles & Components 0.7% | ||||
Other Securities | 0.7 | 169,403,032 | ||
Banks 5.7% | ||||
Bank of America Corp. | 12,504,611 | 0.9 | 206,326,081 | |
Citigroup, Inc. | 3,554,447 | 0.8 | 174,701,070 | |
JPMorgan Chase & Co. | 4,430,631 | 1.4 | 306,865,503 | |
Wells Fargo & Co. | 5,564,409 | 1.1 | 256,018,458 | |
Other Securities | 1.5 | 347,616,054 | ||
5.7 | 1,291,527,166 | |||
Capital Goods 7.2% | ||||
3M Co. | 740,119 | 0.5 | 122,341,671 | |
General Electric Co. | 10,990,757 | 1.4 | 319,831,029 | |
Honeywell International, Inc. | 927,029 | 0.4 | 101,676,541 | |
The Boeing Co. | 711,954 | 0.4 | 101,403,608 | |
United Technologies Corp. | 956,158 | 0.4 | 97,719,348 | |
Other Securities | 4.1 | 890,563,753 | ||
7.2 | 1,633,535,950 | |||
Commercial & Professional Supplies 0.6% | ||||
Other Securities | 0.6 | 134,233,668 | ||
Consumer Durables & Apparel 1.3% | ||||
Other Securities | 1.3 | 300,908,357 | ||
Consumer Services 1.6% | ||||
McDonald's Corp. | 1,045,738 | 0.5 | 117,718,726 | |
Other Securities | 1.1 | 247,372,020 | ||
1.6 | 365,090,746 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Diversified Financials 4.8% | ||||
Berkshire Hathaway, Inc., Class B * | 2,326,030 | 1.5 | 335,646,129 | |
The Charles Schwab Corp. (a) | 1,480,381 | 0.2 | 46,928,078 | |
Other Securities | 3.1 | 713,835,074 | ||
4.8 | 1,096,409,281 | |||
Energy 7.1% | ||||
Chevron Corp. | 2,308,834 | 1.1 | 241,850,361 | |
Exxon Mobil Corp. | 5,079,241 | 1.9 | 423,202,360 | |
Schlumberger Ltd. | 1,710,428 | 0.6 | 133,806,782 | |
Other Securities | 3.5 | 820,327,784 | ||
7.1 | 1,619,187,287 | |||
Food & Staples Retailing 2.1% | ||||
CVS Health Corp. | 1,304,251 | 0.5 | 109,687,509 | |
Wal-Mart Stores, Inc. | 1,854,002 | 0.6 | 129,817,220 | |
Other Securities | 1.0 | 243,594,393 | ||
2.1 | 483,099,122 | |||
Food, Beverage & Tobacco 5.7% | ||||
Altria Group, Inc. | 2,396,391 | 0.7 | 158,449,373 | |
PepsiCo, Inc. | 1,760,463 | 0.8 | 188,721,634 | |
Philip Morris International, Inc. | 1,900,746 | 0.8 | 183,307,944 | |
The Coca-Cola Co. | 4,756,456 | 0.9 | 201,673,734 | |
Other Securities | 2.5 | 562,684,453 | ||
5.7 | 1,294,837,138 | |||
Health Care Equipment & Services 5.2% | ||||
Medtronic plc | 1,691,176 | 0.6 | 138,710,256 | |
UnitedHealth Group, Inc. | 1,165,510 | 0.7 | 164,721,528 | |
Other Securities | 3.9 | 880,095,711 | ||
5.2 | 1,183,527,495 | |||
Household & Personal Products 2.1% | ||||
The Procter & Gamble Co. | 3,271,290 | 1.3 | 283,947,972 | |
Other Securities | 0.8 | 199,876,160 | ||
2.1 | 483,824,132 | |||
Insurance 2.7% | ||||
Other Securities | 2.7 | 607,039,063 | ||
Materials 2.8% | ||||
Other Securities | 2.8 | 632,401,248 | ||
Security | Number of Shares | % of Net Assets | Value ($) | |
Media 2.9% | ||||
Comcast Corp., Class A | 2,935,764 | 0.8 | 181,488,931 | |
The Walt Disney Co. | 1,814,683 | 0.7 | 168,202,967 | |
Other Securities | 1.4 | 313,147,379 | ||
2.9 | 662,839,277 | |||
Pharmaceuticals, Biotechnology & Life Sciences 8.7% | ||||
AbbVie, Inc. | 1,992,886 | 0.5 | 111,163,181 | |
Allergan plc * | 486,568 | 0.4 | 101,663,518 | |
Amgen, Inc. | 914,859 | 0.6 | 129,141,497 | |
Bristol-Myers Squibb Co. | 2,054,164 | 0.5 | 104,577,489 | |
Gilead Sciences, Inc. | 1,613,850 | 0.5 | 118,827,776 | |
Johnson & Johnson | 3,349,625 | 1.7 | 388,523,004 | |
Merck & Co., Inc. | 3,388,114 | 0.9 | 198,950,054 | |
Pfizer, Inc. | 7,416,333 | 1.0 | 235,171,919 | |
Other Securities | 2.6 | 575,474,188 | ||
8.7 | 1,963,492,626 | |||
Real Estate 2.9% | ||||
Other Securities | 2.9 | 662,707,597 | ||
Retailing 5.6% | ||||
Amazon.com, Inc. * | 481,680 | 1.7 | 380,440,498 | |
The Home Depot, Inc. | 1,512,850 | 0.8 | 184,582,828 | |
Other Securities | 3.1 | 696,765,023 | ||
5.6 | 1,261,788,349 | |||
Semiconductors & Semiconductor Equipment 3.3% | ||||
Intel Corp. | 5,794,105 | 0.9 | 202,040,441 | |
QUALCOMM, Inc. | 1,807,465 | 0.5 | 124,208,995 | |
Other Securities | 1.9 | 413,016,116 | ||
3.3 | 739,265,552 | |||
Software & Services 12.9% | ||||
Alphabet, Inc., Class A * | 358,412 | 1.3 | 290,277,879 | |
Alphabet, Inc., Class C * | 364,475 | 1.3 | 285,945,216 | |
Facebook, Inc., Class A * | 2,844,000 | 1.6 | 372,535,560 | |
International Business Machines Corp. | 1,066,790 | 0.7 | 163,954,955 | |
MasterCard, Inc., Class A | 1,180,990 | 0.6 | 126,389,550 | |
Microsoft Corp. | 9,535,931 | 2.5 | 571,392,986 | |
Oracle Corp. | 3,688,586 | 0.6 | 141,715,474 | |
Visa, Inc., Class A | 2,306,800 | 0.8 | 190,334,068 | |
Other Securities | 3.5 | 788,500,273 | ||
12.9 | 2,931,045,961 | |||
Technology Hardware & Equipment 5.3% | ||||
Apple, Inc. | 6,598,915 | 3.3 | 749,240,809 | |
Cisco Systems, Inc. | 6,171,128 | 0.8 | 189,330,207 | |
Other Securities | 1.2 | 260,712,279 | ||
5.3 | 1,199,283,295 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Telecommunication Services 2.5% | ||||
AT&T, Inc. | 7,535,902 | 1.2 | 277,245,834 | |
Verizon Communications, Inc. | 4,993,978 | 1.1 | 240,210,342 | |
Other Securities | 0.2 | 43,580,553 | ||
2.5 | 561,036,729 | |||
Transportation 2.1% | ||||
Other Securities | 2.1 | 476,594,891 | ||
Utilities 3.4% | ||||
Other Securities | 3.4 | 760,398,582 | ||
Total Common Stock | ||||
(Cost $12,998,840,544) | 22,513,476,544 | |||
Other Investment Company 0.1% of net assets | ||||
Securities Lending Collateral 0.1% | ||||
Other Securities | 0.1 | 13,893,103 | ||
Total Other Investment Company | ||||
(Cost $13,893,103) | 13,893,103 | |||
Security Rate, Maturity Date | Face Amount ($) | % of Net Assets | Value ($) | |
Short-Term Investments 0.5% of net assets | ||||
Time Deposits 0.5% | ||||
Sumitomo Mitsui Banking Corp. 0.15%, 11/01/16 (d) | 107,671,102 | 0.5 | 107,671,102 | |
Other Securities | 0.0 | 5,161,735 | ||
0.5 | 112,832,837 | |||
Total Short-Term Investments | ||||
(Cost $112,832,837) | 112,832,837 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $13,706,721. |
(c) | The rate shown is the 7-day yield. |
(d) | The rate shown is the current daily overnight rate. |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
S&P 500 Index, e-mini, Long, expires 12/16/16 | 1,300 | 137,806,500 | (951,893) |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Common Stock1 | $22,513,476,544 | $— | $— | $22,513,476,544 | |
Other Investment Company1 | 13,893,103 | — | — | 13,893,103 | |
Short-Term Investments1 | — | 112,832,837 | — | 112,832,837 | |
Total | $22,527,369,647 | $112,832,837 | $— | $22,640,202,484 | |
Liabilities Valuation Input | |||||
Other Financial Instruments | |||||
Futures Contracts2 | ($951,893) | $— | $— | ($951,893) |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of Condensed Portfolio Holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investment in affiliated issuer, at value (cost $22,549,133) | $46,928,078 | |
Investments in unaffiliated issuers, at value (cost $13,089,124,248) including securities on loan of $13,706,721 | 22,579,381,303 | |
Collateral invested for securities on loan, at value (cost $13,893,103) | + | 13,893,103 |
Total investments, at value (cost $13,125,566,484) | 22,640,202,484 | |
Deposit with broker for futures contracts | 15,912,500 | |
Receivables: | ||
Fund shares sold | 28,863,925 | |
Dividends | 27,826,123 | |
Income from securities on loan | 20,004 | |
Interest | 470 | |
Prepaid expenses | + | 212,983 |
Total assets | 22,713,038,489 | |
Liabilities | ||
Collateral held for securities on loan | 13,893,103 | |
Payables: | ||
Investments bought | 5,381,030 | |
Investment adviser and administrator fees | 1,162,498 | |
Shareholder service fees | 365,456 | |
Independent trustees' fees | 12 | |
Fund shares redeemed | 16,961,365 | |
Variation margin on futures contracts | 240,500 | |
Accrued expenses | + | 497,339 |
Total liabilities | 38,501,303 | |
Net Assets | ||
Total assets | 22,713,038,489 | |
Total liabilities | – | 38,501,303 |
Net assets | $22,674,537,186 | |
Net Assets by Source | ||
Capital received from investors | 12,687,713,013 | |
Net investment income not yet distributed | 370,308,971 | |
Net realized capital gains | 102,831,095 | |
Net unrealized capital appreciation | 9,513,684,107 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$22,674,537,186 | 679,318,269 | $33.38 | ||
Investment Income | ||
Dividends received from affiliated issuer | $372,825 | |
Dividends received from unaffiliated issuers | 482,110,779 | |
Interest | 194,136 | |
Securities on loan | + | 1,225,524 |
Total investment income | 483,903,264 | |
Expenses | ||
Investment adviser and administrator fees | 13,125,526 | |
Shareholder service fees | 4,117,131 | |
Shareholder reports | 521,361 | |
Transfer agent fees | 517,590 | |
Custodian fees | 374,813 | |
Portfolio accounting fees | 326,309 | |
Registration fees | 205,718 | |
Proxy fees | 180,364 | |
Independent trustees' fees | 137,479 | |
Professional fees | 131,800 | |
Index fees | 110,844 | |
Other expenses | + | 313,093 |
Total expenses | 20,062,028 | |
Expense reduction by CSIM and its affiliates | – | 517,590 |
Net expenses | – | 19,544,438 |
Net investment income | 464,358,826 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on unaffiliated issuers | 124,681,168 | |
Net realized gains on futures contracts | + | 11,183,834 |
Net realized gains | 135,865,002 | |
Net change in unrealized appreciation (depreciation) on affiliated issuer | 1,972,789 | |
Net change in unrealized appreciation (depreciation) on unaffiliated issuers | 372,314,502 | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (6,416,993) |
Net change in unrealized appreciation (depreciation) | + | 367,870,298 |
Net realized and unrealized gains | 503,735,300 | |
Increase in net assets resulting from operations | $968,094,126 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $464,358,826 | $440,842,159 | ||
Net realized gains | 135,865,002 | 408,470,702 | ||
Net change in unrealized appreciation (depreciation) | + | 367,870,298 | 203,793,813 | |
Increase in net assets from operations | 968,094,126 | 1,053,106,674 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (445,863,757) | (369,772,138) | ||
Distributions from net realized gains | + | (213,585,458) | — | |
Total distributions | ($659,449,215) | ($369,772,138) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 138,449,264 | $4,442,657,641 | 141,493,107 | $4,563,459,195 | ||||
Shares reinvested | 18,184,196 | 567,165,064 | 10,513,082 | 323,697,799 | ||||
Shares redeemed | + | (131,502,877) | (4,230,435,569) | (137,893,672) | (4,457,275,751) | |||
Net transactions in fund shares | 25,130,583 | $779,387,136 | 14,112,517 | $429,881,243 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 654,187,686 | $21,586,505,139 | 640,075,169 | $20,473,289,360 | ||||
Total increase | + | 25,130,583 | 1,088,032,047 | 14,112,517 | 1,113,215,779 | |||
End of period | 679,318,269 | $22,674,537,186 | 654,187,686 | $21,586,505,139 | ||||
Net investment income not yet distributed | $370,308,971 | $357,061,921 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $53.67 | $53.63 | $48.31 | $40.23 | $37.44 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.95 | 0.94 | 0.83 | 0.81 | 0.71 | |
Net realized and unrealized gains (losses) | 0.92 | 1.40 | 6.74 | 9.74 | 4.32 | |
Total from investment operations | 1.87 | 2.34 | 7.57 | 10.55 | 5.03 | |
Less distributions: | ||||||
Distributions from net investment income | (0.96) | (0.86) | (0.75) | (0.81) | (0.72) | |
Distributions from net realized gains | (2.18) | (1.44) | (1.50) | (1.66) | (1.52) | |
Total distributions | (3.14) | (2.30) | (2.25) | (2.47) | (2.24) | |
Net asset value at end of period | $52.40 | $53.67 | $53.63 | $48.31 | $40.23 | |
Total return | 3.87% | 4.66% | 16.36% | 27.85% | 14.38% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.29% | 0.29% | 0.29% | 0.29% | 0.29% | |
Gross operating expenses | 0.33% | 0.33% | 0.33% | 0.34% | 0.34% | |
Net investment income (loss) | 1.86% | 1.77% | 1.64% | 1.87% | 1.85% | |
Portfolio turnover rate | 3% | 4% | 4% | 4% | 4% | |
Net assets, end of period (x 1,000,000) | $6,432 | $6,550 | $6,586 | $5,887 | $4,848 | |
Holdings by Category | Cost ($) | Value ($) | |
99.5% | Common Stock | 1,927,957,536 | 6,404,137,765 |
0.6% | Other Investment Companies | 37,801,743 | 37,801,743 |
100.1% | Total Investments | 1,965,759,279 | 6,441,939,508 |
(0.1%) | Other Assets and Liabilities, Net | (9,481,996) | |
100.0% | Net Assets | 6,432,457,512 |
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 99.5% of net assets | ||||
Automobiles & Components 0.9% | ||||
Other Securities | 0.9 | 59,429,940 | ||
Banks 5.6% | ||||
Bank of America Corp. | 3,073,841 | 0.8 | 50,718,377 | |
Citigroup, Inc. | 922,256 | 0.7 | 45,328,882 | |
JPMorgan Chase & Co. | 1,136,278 | 1.2 | 78,698,614 | |
Wells Fargo & Co. | 1,430,996 | 1.0 | 65,840,126 | |
Other Securities | 1.9 | 118,930,248 | ||
5.6 | 359,516,247 | |||
Capital Goods 7.3% | ||||
3M Co. | 191,454 | 0.5 | 31,647,346 | |
General Electric Co. | 2,799,902 | 1.3 | 81,477,148 | |
Honeywell International, Inc. | 239,099 | 0.4 | 26,224,378 | |
The Boeing Co. | 185,989 | 0.4 | 26,490,413 | |
United Technologies Corp. | 244,203 | 0.4 | 24,957,547 | |
Other Securities | 4.3 | 280,798,929 | ||
7.3 | 471,595,761 | |||
Commercial & Professional Supplies 0.7% | ||||
Other Securities | 0.7 | 45,933,557 | ||
Consumer Durables & Apparel 1.4% | ||||
Other Securities | 1.4 | 88,414,635 | ||
Consumer Services 2.0% | ||||
McDonald's Corp. | 269,336 | 0.5 | 30,319,154 | |
Other Securities | 1.5 | 99,511,849 | ||
2.0 | 129,831,003 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Diversified Financials 4.8% | ||||
Berkshire Hathaway, Inc., Class B * | 587,712 | 1.3 | 84,806,842 | |
The Charles Schwab Corp. (a) | 375,265 | 0.2 | 11,895,900 | |
Other Securities | 3.3 | 216,494,054 | ||
4.8 | 313,196,796 | |||
Energy 6.6% | ||||
Chevron Corp. | 588,537 | 1.0 | 61,649,251 | |
Exxon Mobil Corp. | 1,301,963 | 1.7 | 108,479,557 | |
Schlumberger Ltd. | 431,405 | 0.5 | 33,748,813 | |
Other Securities | 3.4 | 219,110,040 | ||
6.6 | 422,987,661 | |||
Food & Staples Retailing 2.0% | ||||
CVS Health Corp. | 342,511 | 0.4 | 28,805,175 | |
Wal-Mart Stores, Inc. | 491,627 | 0.5 | 34,423,723 | |
Other Securities | 1.1 | 65,834,209 | ||
2.0 | 129,063,107 | |||
Food, Beverage & Tobacco 5.4% | ||||
Altria Group, Inc. | 611,705 | 0.6 | 40,445,935 | |
PepsiCo, Inc. | 452,385 | 0.8 | 48,495,672 | |
Philip Morris International, Inc. | 484,865 | 0.7 | 46,760,381 | |
The Coca-Cola Co. | 1,208,348 | 0.8 | 51,233,955 | |
Other Securities | 2.5 | 163,531,369 | ||
5.4 | 350,467,312 | |||
Health Care Equipment & Services 5.2% | ||||
Medtronic plc | 438,922 | 0.6 | 36,000,382 | |
UnitedHealth Group, Inc. | 297,792 | 0.7 | 42,086,943 | |
Other Securities | 3.9 | 255,039,511 | ||
5.2 | 333,126,836 | |||
Household & Personal Products 1.9% | ||||
The Procter & Gamble Co. | 841,119 | 1.1 | 73,009,129 | |
Other Securities | 0.8 | 51,226,897 | ||
1.9 | 124,236,026 | |||
Insurance 3.0% | ||||
Other Securities | 3.0 | 196,610,966 | ||
Materials 3.0% | ||||
Other Securities | 3.0 | 191,450,447 | ||
Security | Number of Shares | % of Net Assets | Value ($) | |
Media 3.1% | ||||
Comcast Corp., Class A | 760,023 | 0.7 | 46,984,622 | |
The Walt Disney Co. | 470,260 | 0.7 | 43,588,399 | |
Other Securities | 1.7 | 107,371,691 | ||
3.1 | 197,944,712 | |||
Pharmaceuticals, Biotechnology & Life Sciences 8.3% | ||||
AbbVie, Inc. | 505,126 | 0.4 | 28,175,928 | |
Allergan plc * | 123,377 | 0.4 | 25,778,391 | |
Amgen, Inc. | 235,202 | 0.5 | 33,201,114 | |
Bristol-Myers Squibb Co. | 521,839 | 0.4 | 26,566,824 | |
Celgene Corp. * | 245,440 | 0.4 | 25,079,059 | |
Gilead Sciences, Inc. | 426,544 | 0.5 | 31,406,435 | |
Johnson & Johnson | 857,387 | 1.5 | 99,448,318 | |
Merck & Co., Inc. | 873,418 | 0.8 | 51,287,105 | |
Pfizer, Inc. | 1,909,351 | 0.9 | 60,545,520 | |
Other Securities | 2.5 | 153,237,050 | ||
8.3 | 534,725,744 | |||
Real Estate 3.8% | ||||
Other Securities | 3.8 | 242,930,273 | ||
Retailing 5.3% | ||||
Amazon.com, Inc. * | 121,041 | 1.5 | 95,600,603 | |
The Home Depot, Inc. | 392,035 | 0.7 | 47,832,190 | |
Other Securities | 3.1 | 195,619,669 | ||
5.3 | 339,052,462 | |||
Semiconductors & Semiconductor Equipment 3.1% | ||||
Intel Corp. | 1,472,780 | 0.8 | 51,355,839 | |
QUALCOMM, Inc. | 468,578 | 0.5 | 32,200,680 | |
Other Securities | 1.8 | 116,445,166 | ||
3.1 | 200,001,685 | |||
Software & Services 13.0% | ||||
Alphabet, Inc., Class A * | 91,788 | 1.2 | 74,339,101 | |
Alphabet, Inc., Class C * | 93,332 | 1.1 | 73,222,687 | |
Facebook, Inc., Class A * | 719,400 | 1.5 | 94,234,206 | |
International Business Machines Corp. | 277,840 | 0.7 | 42,701,230 | |
MasterCard, Inc., Class A | 305,410 | 0.5 | 32,684,978 | |
Microsoft Corp. | 2,430,038 | 2.3 | 145,607,877 | |
Oracle Corp. | 958,410 | 0.6 | 36,822,112 | |
Visa, Inc., Class A | 601,900 | 0.8 | 49,662,769 | |
Other Securities | 4.3 | 285,401,746 | ||
13.0 | 834,676,706 | |||
Technology Hardware & Equipment 5.2% | ||||
Apple, Inc. | 1,680,974 | 3.0 | 190,857,788 | |
Cisco Systems, Inc. | 1,571,015 | 0.7 | 48,198,740 | |
Other Securities | 1.5 | 95,413,697 | ||
5.2 | 334,470,225 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Telecommunication Services 2.4% | ||||
AT&T, Inc. | 1,934,941 | 1.1 | 71,186,479 | |
Verizon Communications, Inc. | 1,272,057 | 1.0 | 61,185,942 | |
Other Securities | 0.3 | 20,384,293 | ||
2.4 | 152,756,714 | |||
Transportation 2.1% | ||||
Other Securities | 2.1 | 133,181,270 | ||
Utilities 3.4% | ||||
Other Securities | 3.4 | 218,537,680 | ||
Total Common Stock | ||||
(Cost $1,927,957,536) | 6,404,137,765 | |||
Other Investment Companies 0.6% of net assets | ||||
Money Market Fund 0.4% | ||||
Other Securities | 0.4 | 22,977,593 | ||
Securities Lending Collateral 0.2% | ||||
Other Securities | 0.2 | 14,824,150 | ||
Total Other Investment Companies | ||||
(Cost $37,801,743) | 37,801,743 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $14,532,147. |
(c) | The rate shown is the 7-day yield. |
REIT — | Real Estate Investment Trust |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
S&P 500 Index, e-mini, Long, expires 12/16/16 | 280 | 29,681,400 | 1,633 |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Common Stock1 | $6,404,137,765 | $— | $— | $6,404,137,765 | |
Other Investment Companies1 | 37,801,743 | — | — | 37,801,743 | |
Total | $6,441,939,508 | $— | $— | $6,441,939,508 | |
Other Financial Instruments | |||||
Futures Contracts2 | $1,633 | $— | $— | $1,633 |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of Condensed Portfolio Holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investment in affiliated issuer, at value (cost $2,209,352) | $11,895,900 | |
Investments in unaffiliated issuers, at value (cost $1,948,725,777) including securities on loan of $14,532,147 | 6,415,219,458 | |
Collateral invested for securities on loan, at value (cost $14,824,150) | + | 14,824,150 |
Total investments, at value (cost $1,965,759,279) | 6,441,939,508 | |
Deposit with broker for futures contracts | 1,552,500 | |
Receivables: | ||
Dividends | 7,482,499 | |
Fund shares sold | 1,474,768 | |
Income from securities on loan | 52,036 | |
Prepaid expenses | + | 56,028 |
Total assets | 6,452,557,339 | |
Liabilities | ||
Collateral held for securities on loan | 14,824,150 | |
Payables: | ||
Investments bought | 1,401,446 | |
Investment adviser and administrator fees | 1,222,518 | |
Shareholder service fees | 343,494 | |
Fund shares redeemed | 2,068,487 | |
Variation margin on futures contracts | 51,800 | |
Accrued expenses | + | 187,932 |
Total liabilities | 20,099,827 | |
Net Assets | ||
Total assets | 6,452,557,339 | |
Total liabilities | – | 20,099,827 |
Net assets | $6,432,457,512 | |
Net Assets by Source | ||
Capital received from investors | 1,738,578,933 | |
Net investment income not yet distributed | 93,428,871 | |
Net realized capital gains | 124,267,846 | |
Net unrealized capital appreciation | 4,476,181,862 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$6,432,457,512 | 122,766,378 | $52.40 | ||
Investment Income | ||
Dividends received from affiliated issuer | $97,569 | |
Dividends received from unaffiliated issuers (net of foreign withholding taxes of $6,430) | 136,619,548 | |
Securities on loan | + | 959,771 |
Total investment income | 137,676,888 | |
Expenses | ||
Investment adviser and administrator fees | 14,191,681 | |
Shareholder service fees | 6,158,513 | |
Shareholder reports | 196,767 | |
Portfolio accounting fees | 129,705 | |
Custodian fees | 90,341 | |
Transfer agent fees | 86,837 | |
Professional fees | 73,513 | |
Proxy fees | 70,781 | |
Independent trustees' fees | 66,516 | |
Registration fees | 44,964 | |
Interest expense | 1,005 | |
Other expenses | + | 86,943 |
Total expenses | 21,197,566 | |
Expense reduction by CSIM and its affiliates | – | 2,577,844 |
Net expenses | – | 18,619,722 |
Net investment income | 119,057,166 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on unaffiliated issuers | 92,181,266 | |
Net realized gains on futures contracts | + | 7,301,404 |
Net realized gains | 99,482,670 | |
Net change in unrealized appreciation (depreciation) on affiliated issuer | 442,812 | |
Net change in unrealized appreciation (depreciation) on unaffiliated issuers | 27,049,676 | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (1,434,569) |
Net change in unrealized appreciation (depreciation) | + | 26,057,919 |
Net realized and unrealized gains | 125,540,589 | |
Increase in net assets resulting from operations | $244,597,755 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $119,057,166 | $117,273,762 | ||
Net realized gains | 99,482,670 | 263,878,115 | ||
Net change in unrealized appreciation (depreciation) | + | 26,057,919 | (78,689,547) | |
Increase in net assets from operations | 244,597,755 | 302,462,330 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (116,634,011) | (105,608,703) | ||
Distributions from net realized gains | + | (264,435,992) | (176,669,683) | |
Total distributions | ($381,070,003) | ($282,278,386) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 7,018,989 | $351,323,719 | 8,572,420 | $453,508,106 | ||||
Shares reinvested | 6,609,034 | 324,569,655 | 4,867,270 | 244,385,619 | ||||
Shares redeemed | + | (12,905,052) | (656,886,870) | (14,211,205) | (754,521,955) | |||
Net transactions in fund shares | 722,971 | $19,006,504 | (771,515) | ($56,628,230) | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 122,043,407 | $6,549,923,256 | 122,814,922 | $6,586,367,542 | ||||
Total increase or decrease | + | 722,971 | (117,465,744) | (771,515) | (36,444,286) | |||
End of period | 122,766,378 | $6,432,457,512 | 122,043,407 | $6,549,923,256 | ||||
Net investment income not yet distributed | $93,428,871 | $92,741,182 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $26.29 | $28.13 | $27.62 | $21.26 | $20.55 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.39 | 0.38 | 0.35 | 0.42 | 0.33 | |
Net realized and unrealized gains (losses) | 0.59 | (0.34) | 1.76 | 6.94 | 1.89 | |
Total from investment operations | 0.98 | 0.04 | 2.11 | 7.36 | 2.22 | |
Less distributions: | ||||||
Distributions from net investment income | (0.36) | (0.34) | (0.31) | (0.50) | (0.35) | |
Distributions from net realized gains | (1.31) | (1.54) | (1.29) | (0.50) | (1.16) | |
Total distributions | (1.67) | (1.88) | (1.60) | (1.00) | (1.51) | |
Net asset value at end of period | $25.60 | $26.29 | $28.13 | $27.62 | $21.26 | |
Total return | 4.17% | 0.36% | 8.08% | 36.23% | 11.87% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.17% | 0.17% | 0.17% | 0.17% | 0.17% | |
Gross operating expenses | 0.20% | 0.20% | 0.21% | 0.20% | 0.21% | |
Net investment income (loss) | 1.60% | 1.37% | 1.27% | 1.76% | 1.63% | |
Portfolio turnover rate | 17% | 17% | 12% | 11% | 41% 2 | |
Net assets, end of period (x 1,000,000) | $2,619 | $2,607 | $2,567 | $2,351 | $1,675 | |
Holdings by Category | Cost ($) | Value ($) | |
99.0% | Common Stock | 2,015,427,364 | 2,592,562,813 |
0.0% | Rights | 462,875 | 503,531 |
2.8% | Other Investment Company | 71,694,474 | 71,694,474 |
1.1% | Short-Term Investments | 29,131,264 | 29,131,264 |
102.9% | Total Investments | 2,116,715,977 | 2,693,892,082 |
(2.9%) | Other Assets and Liabilities, Net | (75,180,713) | |
100.0% | Net Assets | 2,618,711,369 |
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 99.0% of net assets | ||||
Automobiles & Components 1.3% | ||||
Tenneco, Inc. * | 88,228 | 0.2 | 4,858,716 | |
Other Securities | 1.1 | 28,286,721 | ||
1.3 | 33,145,437 | |||
Banks 12.5% | ||||
Bank of the Ozarks, Inc. | 138,768 | 0.2 | 5,128,865 | |
Investors Bancorp, Inc. | 459,714 | 0.2 | 5,636,094 | |
PrivateBancorp, Inc. | 122,776 | 0.2 | 5,554,386 | |
Prosperity Bancshares, Inc. | 105,795 | 0.2 | 5,868,449 | |
Umpqua Holdings Corp. | 337,388 | 0.2 | 5,155,289 | |
Webster Financial Corp. | 144,627 | 0.2 | 5,842,931 | |
Other Securities | 11.3 | 293,508,393 | ||
12.5 | 326,694,407 | |||
Capital Goods 8.8% | ||||
Curtiss-Wright Corp. | 69,240 | 0.2 | 6,205,289 | |
EMCOR Group, Inc. | 95,397 | 0.2 | 5,767,703 | |
Teledyne Technologies, Inc. * | 54,026 | 0.2 | 5,817,520 | |
Woodward, Inc. | 82,058 | 0.2 | 4,839,781 | |
Other Securities | 8.0 | 207,960,577 | ||
8.8 | 230,590,870 | |||
Commercial & Professional Supplies 3.7% | ||||
Other Securities | 3.7 | 95,705,352 | ||
Consumer Durables & Apparel 2.4% | ||||
Other Securities | 2.4 | 62,346,653 | ||
Security | Number of Shares | % of Net Assets | Value ($) | |
Consumer Services 4.0% | ||||
Jack in the Box, Inc. | 51,508 | 0.2 | 4,827,845 | |
Other Securities | 3.8 | 99,489,149 | ||
4.0 | 104,316,994 | |||
Diversified Financials 3.2% | ||||
New Residential Investment Corp. | 374,797 | 0.2 | 5,232,166 | |
Other Securities | 3.0 | 77,534,149 | ||
3.2 | 82,766,315 | |||
Energy 3.2% | ||||
PDC Energy, Inc. * | 87,703 | 0.2 | 5,378,825 | |
RSP Permian, Inc. * | 152,825 | 0.2 | 5,516,982 | |
Other Securities | 2.8 | 73,340,012 | ||
3.2 | 84,235,819 | |||
Food & Staples Retailing 0.6% | ||||
Other Securities | 0.6 | 15,375,927 | ||
Food, Beverage & Tobacco 1.9% | ||||
Other Securities | 1.9 | 49,425,090 | ||
Health Care Equipment & Services 5.8% | ||||
HealthSouth Corp. | 137,000 | 0.2 | 5,500,550 | |
Other Securities | 5.6 | 146,606,098 | ||
5.8 | 152,106,648 | |||
Household & Personal Products 0.6% | ||||
Other Securities | 0.6 | 16,165,053 | ||
Insurance 2.3% | ||||
Other Securities | 2.3 | 61,263,897 | ||
Materials 4.6% | ||||
Olin Corp. | 254,848 | 0.2 | 5,588,817 | |
Sensient Technologies Corp. | 68,414 | 0.2 | 5,097,527 | |
Other Securities | 4.2 | 110,887,789 | ||
4.6 | 121,574,133 | |||
Media 1.5% | ||||
Other Securities | 1.5 | 40,091,759 | ||
Security | Number of Shares | % of Net Assets | Value ($) | |
Pharmaceuticals, Biotechnology & Life Sciences 7.1% | ||||
Cepheid * | 113,800 | 0.2 | 6,020,020 | |
TESARO, Inc. * | 41,300 | 0.2 | 4,992,344 | |
Other Securities | 6.7 | 175,799,640 | ||
7.1 | 186,812,004 | |||
Real Estate 8.2% | ||||
Education Realty Trust, Inc. | 112,913 | 0.2 | 4,808,965 | |
First Industrial Realty Trust, Inc. | 182,737 | 0.2 | 4,826,084 | |
Gramercy Property Trust | 662,768 | 0.2 | 6,110,721 | |
Healthcare Realty Trust, Inc. | 179,181 | 0.2 | 5,714,082 | |
Hudson Pacific Properties, Inc. | 147,711 | 0.2 | 4,966,044 | |
Medical Properties Trust, Inc. | 458,153 | 0.2 | 6,386,653 | |
Other Securities | 7.0 | 181,129,646 | ||
8.2 | 213,942,195 | |||
Retailing 3.3% | ||||
Other Securities | 3.3 | 86,752,873 | ||
Semiconductors & Semiconductor Equipment 3.8% | ||||
Advanced Micro Devices, Inc. * | 1,174,643 | 0.3 | 8,492,669 | |
Cavium, Inc. * | 100,850 | 0.2 | 5,692,982 | |
Cirrus Logic, Inc. * | 96,600 | 0.2 | 5,214,468 | |
Microsemi Corp. * | 179,521 | 0.3 | 7,563,220 | |
Other Securities | 2.8 | 71,833,749 | ||
3.8 | 98,797,088 | |||
Software & Services 8.9% | ||||
Aspen Technology, Inc. * | 130,299 | 0.2 | 6,415,923 | |
Ellie Mae, Inc. * | 50,900 | 0.2 | 5,389,801 | |
EPAM Systems, Inc. * | 76,483 | 0.2 | 4,923,211 | |
Fair Isaac Corp. | 48,641 | 0.2 | 5,869,996 | |
j2 Global, Inc. | 72,528 | 0.2 | 5,160,367 | |
MAXIMUS, Inc. | 99,517 | 0.2 | 5,180,855 | |
Mentor Graphics Corp. | 172,267 | 0.2 | 4,978,516 | |
Proofpoint, Inc. * | 62,900 | 0.2 | 4,930,102 | |
Take-Two Interactive Software, Inc. * | 129,712 | 0.2 | 5,757,916 | |
Other Securities | 7.1 | 183,820,643 | ||
8.9 | 232,427,330 | |||
Technology Hardware & Equipment 5.2% | ||||
Littelfuse, Inc. | 34,800 | 0.2 | 4,854,600 | |
ViaSat, Inc. * | 70,619 | 0.2 | 4,989,939 | |
Other Securities | 4.8 | 125,160,781 | ||
5.2 | 135,005,320 | |||
Telecommunication Services 0.7% | ||||
Other Securities | 0.7 | 19,560,950 | ||
Transportation 1.5% | ||||
XPO Logistics, Inc. * | 151,202 | 0.2 | 4,979,082 | |
Other Securities | 1.3 | 35,007,211 | ||
1.5 | 39,986,293 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Utilities 3.9% | ||||
Black Hills Corp. | 79,298 | 0.2 | 4,904,581 | |
IDACORP, Inc. | 78,143 | 0.2 | 6,125,630 | |
ONE Gas, Inc. | 80,200 | 0.2 | 4,914,656 | |
Portland General Electric Co. | 141,108 | 0.2 | 6,157,953 | |
Southwest Gas Corp. | 74,096 | 0.2 | 5,368,996 | |
WGL Holdings, Inc. | 78,833 | 0.2 | 4,971,997 | |
Other Securities | 2.7 | 71,030,593 | ||
3.9 | 103,474,406 | |||
Total Common Stock | ||||
(Cost $2,015,427,364) | 2,592,562,813 | |||
Rights 0.0% of net assets | ||||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||||
Other Securities | 0.0 | 249,431 | ||
Telecommunication Services 0.0% | ||||
Other Securities | 0.0 | 254,100 | ||
Total Rights | ||||
(Cost $462,875) | 503,531 | |||
Other Investment Company 2.8% of net assets | ||||
Securities Lending Collateral 2.8% | ||||
Wells Fargo Government Money Market Fund, Select Class 0.32%(c) | 71,694,474 | 2.8 | 71,694,474 | |
Total Other Investment Company | ||||
(Cost $71,694,474) | 71,694,474 | |||
Security Rate, Maturity Date | Face Amount ($) | % of Net Assets | Value ($) | |
Short-Term Investments 1.1% of net assets | ||||
Time Deposits 1.1% | ||||
Sumitomo Mitsui Banking Corp. 0.15%, 11/01/16 (e) | 26,096,652 | 1.0 | 26,096,652 | |
Other Securities | 0.1 | 3,034,612 | ||
1.1 | 29,131,264 | |||
Total Short-Term Investments | ||||
(Cost $29,131,264) | 29,131,264 |
* | Non-income producing security. |
(a) | Illiquid security. At the period end, the value of these amounted to $831,653 or 0.0% of net assets. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $69,176,152. |
(c) | The rate shown is the 7-day yield. |
(e) | The rate shown is the current daily overnight rate. |
(f) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
CVR — | Contingent Value Rights |
REIT — | Real Estate Investment Trust |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
Russell 2000 Index, mini, Long, expires 12/16/16 | 195 | 23,191,350 | (607,492) |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Common Stock1 | $2,203,521,753 | $— | $— | $2,203,521,753 | |
Banks | 326,366,285 | — | 328,122 | 326,694,407 | |
Consumer Durables & Apparel | 62,226,995 | — | 119,658 | 62,346,653 | |
Rights 1 | — | — | 503,531 * | 503,531 | |
Other Investment Company1 | 71,694,474 | — | — | 71,694,474 | |
Short-Term Investments1 | — | 29,131,264 | — | 29,131,264 | |
Total | $2,663,809,507 | $29,131,264 | $951,311 | $2,693,892,082 | |
Liabilities Valuation Input | |||||
Other Financial Instruments | |||||
Futures Contracts2 | ($607,492) | $— | $— | ($607,492) |
* | Level 3 amount shown includes securities determined to have no value at October 31, 2016. |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of Condensed Portfolio Holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments, at value (cost $2,045,021,503) including securities on loan of $69,176,152 | $2,622,197,608 | |
Collateral invested for securities on loan, at value (cost $71,694,474) | + | 71,694,474 |
Total investments, at value (cost $2,116,715,977) | 2,693,892,082 | |
Deposit with broker for futures contracts | 1,475,000 | |
Receivables: | ||
Investments sold | 1,711,484 | |
Fund shares sold | 1,904,697 | |
Dividends | 964,844 | |
Income from securities on loan | 401,930 | |
Variation margin on futures contracts | 84,086 | |
Foreign tax reclaims | 138 | |
Interest | 121 | |
Prepaid expenses | + | 31,766 |
Total assets | 2,700,466,148 | |
Liabilities | ||
Collateral held for securities on loan | 71,694,474 | |
Payables: | ||
Investments bought | 8,203,569 | |
Investment adviser and administrator fees | 320,827 | |
Shareholder service fees | 5,440 | |
Fund shares redeemed | 1,275,703 | |
Accrued expenses | + | 254,766 |
Total liabilities | 81,754,779 | |
Net Assets | ||
Total assets | 2,700,466,148 | |
Total liabilities | – | 81,754,779 |
Net assets | $2,618,711,369 | |
Net Assets by Source | ||
Capital received from investors | 1,947,661,792 | |
Net investment income not yet distributed | 29,632,152 | |
Net realized capital gains | 64,848,812 | |
Net unrealized capital appreciation | 576,568,613 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$2,618,711,369 | 102,299,380 | $25.60 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $13,028) | $39,704,920 | |
Interest | 22,234 | |
Securities on loan | + | 5,662,957 |
Total investment income | 45,390,111 | |
Expenses | ||
Investment adviser and administrator fees | 3,845,081 | |
Shareholder service fees | 481,202 | |
Index fees | 331,260 | |
Shareholder reports | 134,752 | |
Portfolio accounting fees | 96,014 | |
Registration fees | 66,938 | |
Custodian fees | 60,375 | |
Transfer agent fees | 56,176 | |
Professional fees | 49,204 | |
Proxy fees | 48,079 | |
Independent trustees' fees | 23,128 | |
Interest expense | 346 | |
Other expenses | + | 37,587 |
Total expenses | 5,230,142 | |
Expense reduction by CSIM and its affiliates | – | 823,959 |
Net expenses | – | 4,406,183 |
Net investment income | 40,983,928 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 74,455,591 | |
Net realized losses on futures contracts | (943,993) | |
Net realized losses on foreign currency transactions | + | (166) |
Net realized gains | 73,511,432 | |
Net change in unrealized appreciation (depreciation) on investments | (16,991,820) | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (652,700) |
Net change in unrealized appreciation (depreciation) | + | (17,644,520) |
Net realized and unrealized gains | 55,866,912 | |
Increase in net assets resulting from operations | $96,850,840 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $40,983,928 | $36,385,637 | ||
Net realized gains | 73,511,432 | 129,409,804 | ||
Net change in unrealized appreciation (depreciation) | + | (17,644,520) | (161,888,183) | |
Increase in net assets from operations | 96,850,840 | 3,907,258 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (36,921,658) | (31,478,925) | ||
Distributions from net realized gains | + | (133,048,449) | (140,885,597) | |
Total distributions | ($169,970,107) | ($172,364,522) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 19,812,273 | $485,854,730 | 22,816,080 | $620,636,969 | ||||
Shares reinvested | 6,229,806 | 148,954,660 | 6,143,892 | 156,607,812 | ||||
Shares redeemed | + | (22,912,471) | (550,233,981) | (21,022,054) | (568,337,329) | |||
Net transactions in fund shares | 3,129,608 | $84,575,409 | 7,937,918 | $208,907,452 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 99,169,772 | $2,607,255,227 | 91,231,854 | $2,566,805,039 | ||||
Total increase | + | 3,129,608 | 11,456,142 | 7,937,918 | 40,450,188 | |||
End of period | 102,299,380 | $2,618,711,369 | 99,169,772 | $2,607,255,227 | ||||
Net investment income not yet distributed | $29,632,152 | $26,542,110 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $37.69 | $36.96 | $32.53 | $25.80 | $22.92 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.75 1 | 0.72 1 | 0.60 | 0.57 | 0.47 | |
Net realized and unrealized gains (losses) | 0.75 | 0.83 | 4.49 | 6.70 | 2.83 | |
Total from investment operations | 1.50 | 1.55 | 5.09 | 7.27 | 3.30 | |
Less distributions: | ||||||
Distributions from net investment income | (0.70) | (0.61) | (0.51) | (0.54) | (0.42) | |
Distributions from net realized gains | (0.30) | (0.21) | (0.15) | — | — | |
Total distributions | (1.00) | (0.82) | (0.66) | (0.54) | (0.42) | |
Net asset value at end of period | $38.19 | $37.69 | $36.96 | $32.53 | $25.80 | |
Total return | 4.19% | 4.36% | 15.93% | 28.76% | 14.71% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.09% | 0.09% | 0.09% | 0.09% | 0.09% | |
Gross operating expenses | 0.10% | 0.11% | 0.10% | 0.10% | 0.10% | |
Net investment income (loss) | 2.03% | 1.92% | 1.79% | 2.02% | 2.02% | |
Portfolio turnover rate | 1% | 2% | 1% | 2% | 3% | |
Net assets, end of period (x 1,000,000) | $4,850 | $4,477 | $4,049 | $3,183 | $2,240 | |
Holdings by Category | Cost ($) | Value ($) | |
99.4% | Common Stock | 3,091,955,361 | 4,822,321,992 |
0.0% | Rights | 67,393 | 73,410 |
0.4% | Other Investment Company | 19,726,894 | 19,726,894 |
0.5% | Short-Term Investment | 21,277,491 | 21,277,491 |
100.3% | Total Investments | 3,133,027,139 | 4,863,399,787 |
(0.3%) | Other Assets and Liabilities, Net | (12,976,513) | |
100.0% | Net Assets | 4,850,423,274 |
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 99.4% of net assets | ||||
Automobiles & Components 0.9% | ||||
Other Securities | 0.9 | 45,454,757 | ||
Banks 6.0% | ||||
Bank of America Corp. | 2,200,301 | 0.7 | 36,304,966 | |
Citigroup, Inc. | 631,689 | 0.6 | 31,047,514 | |
JPMorgan Chase & Co. | 777,963 | 1.1 | 53,881,717 | |
Wells Fargo & Co. | 977,413 | 0.9 | 44,970,772 | |
Other Securities | 2.7 | 126,929,906 | ||
6.0 | 293,134,875 | |||
Capital Goods 7.5% | ||||
3M Co. | 131,557 | 0.4 | 21,746,372 | |
General Electric Co. | 1,933,100 | 1.2 | 56,253,210 | |
Honeywell International, Inc. | 165,180 | 0.4 | 18,116,942 | |
The Boeing Co. | 126,236 | 0.4 | 17,979,793 | |
Other Securities | 5.1 | 248,120,935 | ||
7.5 | 362,217,252 | |||
Commercial & Professional Supplies 0.9% | ||||
Other Securities | 0.9 | 46,064,726 | ||
Consumer Durables & Apparel 1.5% | ||||
Other Securities | 1.5 | 71,172,389 | ||
Consumer Services 2.1% | ||||
McDonald's Corp. | 184,840 | 0.4 | 20,807,439 | |
Other Securities | 1.7 | 81,876,529 | ||
2.1 | 102,683,968 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Diversified Financials 4.8% | ||||
Berkshire Hathaway, Inc., Class B * | 409,702 | 1.2 | 59,119,999 | |
The Charles Schwab Corp. (a) | 250,126 | 0.2 | 7,928,994 | |
Other Securities | 3.4 | 164,542,975 | ||
4.8 | 231,591,968 | |||
Energy 6.6% | ||||
Chevron Corp. | 408,223 | 0.9 | 42,761,359 | |
Exxon Mobil Corp. | 894,899 | 1.5 | 74,562,985 | |
Schlumberger Ltd. | 299,003 | 0.5 | 23,391,005 | |
Other Securities | 3.7 | 177,652,405 | ||
6.6 | 318,367,754 | |||
Food & Staples Retailing 1.9% | ||||
CVS Health Corp. | 231,037 | 0.4 | 19,430,212 | |
Wal-Mart Stores, Inc. | 325,189 | 0.5 | 22,769,734 | |
Other Securities | 1.0 | 48,356,546 | ||
1.9 | 90,556,492 | |||
Food, Beverage & Tobacco 5.1% | ||||
Altria Group, Inc. | 419,223 | 0.6 | 27,719,025 | |
PepsiCo, Inc. | 310,658 | 0.7 | 33,302,538 | |
Philip Morris International, Inc. | 332,409 | 0.7 | 32,057,524 | |
The Coca-Cola Co. | 834,514 | 0.7 | 35,383,394 | |
Other Securities | 2.4 | 118,572,789 | ||
5.1 | 247,035,270 | |||
Health Care Equipment & Services 5.2% | ||||
Medtronic plc | 296,388 | 0.5 | 24,309,744 | |
UnitedHealth Group, Inc. | 206,081 | 0.6 | 29,125,428 | |
Other Securities | 4.1 | 199,381,778 | ||
5.2 | 252,816,950 | |||
Household & Personal Products 1.9% | ||||
The Procter & Gamble Co. | 571,624 | 1.0 | 49,616,963 | |
Other Securities | 0.9 | 41,665,079 | ||
1.9 | 91,282,042 | |||
Insurance 3.0% | ||||
Other Securities | 3.0 | 143,432,193 | ||
Materials 3.2% | ||||
Other Securities | 3.2 | 156,473,964 | ||
Security | Number of Shares | % of Net Assets | Value ($) | |
Media 2.9% | ||||
Comcast Corp., Class A | 515,360 | 0.7 | 31,859,555 | |
The Walt Disney Co. | 320,339 | 0.6 | 29,692,222 | |
Other Securities | 1.6 | 80,887,093 | ||
2.9 | 142,438,870 | |||
Pharmaceuticals, Biotechnology & Life Sciences 8.1% | ||||
AbbVie, Inc. | 354,696 | 0.4 | 19,784,943 | |
Allergan plc * | 84,287 | 0.4 | 17,610,926 | |
Amgen, Inc. | 161,189 | 0.5 | 22,753,439 | |
Bristol-Myers Squibb Co. | 355,353 | 0.4 | 18,091,021 | |
Gilead Sciences, Inc. | 284,192 | 0.4 | 20,925,057 | |
Johnson & Johnson | 588,809 | 1.4 | 68,295,956 | |
Merck & Co., Inc. | 591,516 | 0.7 | 34,733,819 | |
Pfizer, Inc. | 1,310,725 | 0.9 | 41,563,090 | |
Other Securities | 3.0 | 151,137,049 | ||
8.1 | 394,895,300 | |||
Real Estate 4.2% | ||||
Other Securities | 4.2 | 202,479,856 | ||
Retailing 5.1% | ||||
Amazon.com, Inc. * | 84,725 | 1.4 | 66,917,499 | |
The Home Depot, Inc. | 265,063 | 0.7 | 32,340,337 | |
Other Securities | 3.0 | 147,340,359 | ||
5.1 | 246,598,195 | |||
Semiconductors & Semiconductor Equipment 3.1% | ||||
Intel Corp. | 1,016,597 | 0.7 | 35,448,737 | |
QUALCOMM, Inc. | 317,739 | 0.5 | 21,835,024 | |
Other Securities | 1.9 | 94,316,601 | ||
3.1 | 151,600,362 | |||
Software & Services 12.6% | ||||
Alphabet, Inc., Class A * | 63,676 | 1.1 | 51,571,192 | |
Alphabet, Inc., Class C * | 63,527 | 1.0 | 49,839,473 | |
Facebook, Inc., Class A * | 500,707 | 1.4 | 65,587,610 | |
International Business Machines Corp. | 187,251 | 0.6 | 28,778,606 | |
MasterCard, Inc., Class A | 204,556 | 0.5 | 21,891,583 | |
Microsoft Corp. | 1,681,918 | 2.1 | 100,780,527 | |
Oracle Corp. | 645,813 | 0.5 | 24,812,135 | |
Visa, Inc., Class A | 404,804 | 0.7 | 33,400,378 | |
Other Securities | 4.7 | 234,661,826 | ||
12.6 | 611,323,330 | |||
Technology Hardware & Equipment 5.2% | ||||
Apple, Inc. | 1,161,062 | 2.7 | 131,826,979 | |
Cisco Systems, Inc. | 1,078,740 | 0.7 | 33,095,743 | |
Other Securities | 1.8 | 86,869,769 | ||
5.2 | 251,792,491 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Telecommunication Services 2.3% | ||||
AT&T, Inc. | 1,324,607 | 1.0 | 48,732,292 | |
Verizon Communications, Inc. | 880,569 | 0.9 | 42,355,369 | |
Other Securities | 0.4 | 18,688,026 | ||
2.3 | 109,775,687 | |||
Transportation 2.0% | ||||
Other Securities | 2.0 | 97,568,644 | ||
Utilities 3.3% | ||||
Other Securities | 3.3 | 161,564,657 | ||
Total Common Stock | ||||
(Cost $3,091,955,361) | 4,822,321,992 | |||
Rights 0.0% of net assets | ||||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||||
Other Securities | 0.0 | 34,410 | ||
Technology Hardware & Equipment 0.0% | ||||
Other Securities | 0.0 | — | ||
Telecommunication Services 0.0% | ||||
Other Securities | 0.0 | 39,000 | ||
Total Rights | ||||
(Cost $67,393) | 73,410 | |||
Other Investment Company 0.4% of net assets | ||||
Securities Lending Collateral 0.4% | ||||
Wells Fargo Government Money Market Fund, Select Class 0.32%(d) | 19,726,894 | 0.4 | 19,726,894 | |
Total Other Investment Company | ||||
(Cost $19,726,894) | 19,726,894 | |||
Security Rate, Maturity Date | Face Amount ($) | % of Net Assets | Value ($) | |
Short-Term Investment 0.5% of net assets | ||||
Time Deposit 0.5% | ||||
Sumitomo Mitsui Banking Corp. 0.15%, 11/01/16 (e) | 21,277,491 | 0.5 | 21,277,491 | |
Total Short-Term Investment | ||||
(Cost $21,277,491) | 21,277,491 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | Illiquid security. At the period end, the value of these amounted to $73,410 or 0.0% of net assets. |
(c) | All or a portion of this security is on loan. Securities on loan were valued at $19,150,544. |
(d) | The rate shown is the 7-day yield. |
(e) | The rate shown is the current daily overnight rate. |
(f) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
CVR — | Contingent Value Rights |
REIT — | Real Estate Investment Trust |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
Russell 2000 Index, mini, Long, expires 12/16/16 | 35 | 4,162,550 | (144,920) | |||
S&P 500 Index, e-mini, Long, expires 12/16/16 | 205 | 21,731,025 | (247,030) | |||
Net Unrealized Depreciation | (391,950) |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Common Stock1 | $4,822,321,992 | $— | $— * | $4,822,321,992 | |
Rights 1 | — | — | 73,410 * | 73,410 | |
Other Investment Company1 | 19,726,894 | — | — | 19,726,894 | |
Short-Term Investment1 | — | 21,277,491 | — | 21,277,491 | |
Total | $4,842,048,886 | $21,277,491 | $73,410 | $4,863,399,787 | |
Liabilities Valuation Input | |||||
Other Financial Instruments | |||||
Futures Contracts2 | ($391,950) | $— | $— | ($391,950) |
* | Level 3 amount shown includes securities determined to have no value at October 31, 2016. |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of Condensed Portfolio Holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investment in affiliated issuer, at value (cost $5,313,111) | $7,928,994 | |
Investments in unaffiliated issuers, at value (cost $3,107,987,134) including securities on loan of $19,150,544 | 4,835,743,899 | |
Collateral invested for securities on loan, at value (cost $19,726,894) | + | 19,726,894 |
Total investments, at value (cost $3,133,027,139) | 4,863,399,787 | |
Deposit with broker for futures contracts | 2,273,500 | |
Receivables: | ||
Dividends | 5,232,639 | |
Fund shares sold | 2,824,461 | |
Income from securities on loan | 89,146 | |
Interest | 89 | |
Prepaid expenses | + | 63,452 |
Total assets | 4,873,883,074 | |
Liabilities | ||
Collateral held for securities on loan | 19,726,894 | |
Payables: | ||
Investments bought | 933,514 | |
Investment adviser and administrator fees | 248,680 | |
Shareholder service fees | 30,822 | |
Fund shares redeemed | 2,202,642 | |
Variation margin on futures contracts | 26,025 | |
Accrued expenses | + | 291,223 |
Total liabilities | 23,459,800 | |
Net Assets | ||
Total assets | 4,873,883,074 | |
Total liabilities | – | 23,459,800 |
Net assets | $4,850,423,274 | |
Net Assets by Source | ||
Capital received from investors | 3,052,206,562 | |
Net investment income not yet distributed | 74,346,707 | |
Net realized capital losses | (6,110,693) | |
Net unrealized capital appreciation | 1,729,980,698 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$4,850,423,274 | 127,023,967 | $38.19 | ||
Investment Income | ||
Dividends received from affiliated issuer | $63,833 | |
Dividends received from unaffiliated issuers (net of foreign withholding taxes of $7,224) | 96,197,015 | |
Interest | 47,011 | |
Securities on loan | + | 1,463,081 |
Total investment income | 97,770,940 | |
Expenses | ||
Investment adviser and administrator fees | 2,767,668 | |
Shareholder service fees | 884,424 | |
Index fees | 409,169 | |
Shareholder reports | 158,813 | |
Portfolio accounting fees | 128,896 | |
Registration fees | 99,867 | |
Custodian fees | 87,889 | |
Transfer agent fees | 85,192 | |
Professional fees | 56,925 | |
Proxy fees | 56,547 | |
Independent trustees' fees | 35,174 | |
Interest expense | 21 | |
Other expenses | + | 67,356 |
Total expenses | 4,837,941 | |
Expense reduction by CSIM and its affiliates | – | 629,871 |
Net expenses | – | 4,208,070 |
Net investment income | 93,562,870 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on unaffiliated issuers | 11,187,497 | |
Net realized losses on futures contracts | + | (187,022) |
Net realized gains | 11,000,475 | |
Net change in unrealized appreciation (depreciation) on affiliated issuer | 354,848 | |
Net change in unrealized appreciation (depreciation) on unaffiliated issuers | 94,598,040 | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (1,492,906) |
Net change in unrealized appreciation (depreciation) | + | 93,459,982 |
Net realized and unrealized gains | 104,460,457 | |
Increase in net assets resulting from operations | $198,023,327 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $93,562,870 | $83,961,729 | ||
Net realized gains | 11,000,475 | 37,802,516 | ||
Net change in unrealized appreciation (depreciation) | + | 93,459,982 | 56,507,932 | |
Increase in net assets from operations | 198,023,327 | 178,272,177 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (84,938,610) | (68,099,121) | ||
Distributions from net realized gains | + | (36,762,493) | (23,418,312) | |
Total distributions | ($121,701,103) | ($91,517,433) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 23,096,907 | $842,649,529 | 24,753,855 | $920,238,549 | ||||
Shares reinvested | 2,656,745 | 94,819,269 | 2,076,130 | 73,370,427 | ||||
Shares redeemed | + | (17,507,062) | (640,225,552) | (17,609,468) | (652,741,483) | |||
Net transactions in fund shares | 8,246,590 | $297,243,246 | 9,220,517 | $340,867,493 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 118,777,377 | $4,476,857,804 | 109,556,860 | $4,049,235,567 | ||||
Total increase | + | 8,246,590 | 373,565,470 | 9,220,517 | 427,622,237 | |||
End of period | 127,023,967 | $4,850,423,274 | 118,777,377 | $4,476,857,804 | ||||
Net investment income not yet distributed | $74,346,707 | $69,554,519 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $18.49 | $19.42 | $19.92 | $16.32 | $16.02 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.53 1 | 0.54 1 | 0.64 | 0.49 | 0.57 | |
Net realized and unrealized gains (losses) | (1.03) | (0.86) | (0.63) | 3.69 | 0.33 | |
Total from investment operations | (0.50) | (0.32) | 0.01 | 4.18 | 0.90 | |
Less distributions: | ||||||
Distributions from net investment income | (0.47) | (0.61) | (0.51) | (0.58) | (0.60) | |
Net asset value at end of period | $17.52 | $18.49 | $19.42 | $19.92 | $16.32 | |
Total return | (2.64%) | (1.53%) | 0.09% | 26.40% | 6.07% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.19% | 0.19% | 0.19% | 0.19% | 0.19% | |
Gross operating expenses | 0.23% | 0.23% | 0.23% | 0.23% | 0.23% | |
Net investment income (loss) | 3.06% | 2.82% | 3.42% | 2.88% | 3.66% | |
Portfolio turnover rate | 4% | 7% | 2% | 5% | 31% 2 | |
Net assets, end of period (x 1,000,000) | $2,900 | $2,844 | $2,699 | $2,205 | $1,415 | |
Holdings by Category | Cost ($) | Value ($) | |
97.9% | Common Stock | 2,555,902,633 | 2,840,451,179 |
0.6% | Preferred Stock | 17,481,434 | 17,308,068 |
0.0% | Rights | 52,470 | 72,606 |
0.2% | Other Investment Company | 3,953,494 | 3,953,494 |
0.9% | Short-Term Investments | 26,753,989 | 26,753,989 |
99.6% | Total Investments | 2,604,144,020 | 2,888,539,336 |
0.4% | Other Assets and Liabilities, Net | 11,909,792 | |
100.0% | Net Assets | 2,900,449,128 |
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 97.9% of net assets | ||||
Australia 7.2% | ||||
Australia & New Zealand Banking Group Ltd. | 692,660 | 0.5 | 14,625,799 | |
BHP Billiton Ltd. | 759,420 | 0.5 | 13,267,697 | |
Commonwealth Bank of Australia | 407,122 | 0.8 | 22,664,841 | |
National Australia Bank Ltd. | 624,277 | 0.5 | 13,251,797 | |
Westpac Banking Corp. | 792,152 | 0.6 | 18,318,463 | |
Other Securities | 4.3 | 127,229,291 | ||
7.2 | 209,357,888 | |||
Austria 0.2% | ||||
Other Securities | 0.2 | 5,611,394 | ||
Belgium 1.3% | ||||
Anheuser-Busch InBev S.A./N.V. | 189,850 | 0.8 | 21,789,045 | |
Other Securities | 0.5 | 14,997,669 | ||
1.3 | 36,786,714 | |||
Denmark 1.7% | ||||
Novo Nordisk A/S, Class B | 451,381 | 0.6 | 16,080,665 | |
Other Securities | 1.1 | 32,189,158 | ||
1.7 | 48,269,823 | |||
Finland 0.9% | ||||
Other Securities | 0.9 | 27,189,472 | ||
France 9.7% | ||||
BNP Paribas S.A. | 251,545 | 0.5 | 14,585,398 | |
L'Oreal S.A. | 59,604 | 0.4 | 10,678,600 | |
LVMH Moet Hennessy Louis Vuitton SE | 66,116 | 0.4 | 12,037,154 |
Security | Number of Shares | % of Net Assets | Value ($) | |
Sanofi | 275,305 | 0.7 | 21,423,897 | |
TOTAL S.A. | 527,199 | 0.9 | 25,255,416 | |
Other Securities | 6.8 | 199,035,447 | ||
9.7 | 283,015,912 | |||
Germany 8.5% | ||||
Allianz SE - Reg'd | 108,608 | 0.6 | 16,954,168 | |
BASF SE | 218,370 | 0.7 | 19,277,257 | |
Bayer AG - Reg'd | 196,624 | 0.7 | 19,522,723 | |
Daimler AG - Reg'd | 228,385 | 0.6 | 16,293,436 | |
Deutsche Telekom AG - Reg'd | 760,204 | 0.4 | 12,402,894 | |
SAP SE | 233,481 | 0.7 | 20,569,542 | |
Siemens AG - Reg'd | 180,435 | 0.7 | 20,500,545 | |
Other Securities | 4.1 | 120,457,822 | ||
8.5 | 245,978,387 | |||
Hong Kong 3.5% | ||||
AIA Group Ltd. | 2,876,400 | 0.6 | 18,095,437 | |
Other Securities | 2.9 | 82,713,355 | ||
3.5 | 100,808,792 | |||
Ireland 0.4% | ||||
Other Securities | 0.4 | 12,930,974 | ||
Israel 0.7% | ||||
Other Securities | 0.7 | 19,338,451 | ||
Italy 1.9% | ||||
Other Securities | 1.9 | 54,964,785 | ||
Japan 24.4% | ||||
Honda Motor Co., Ltd. | 387,339 | 0.4 | 11,589,804 | |
KDDI Corp. | 433,100 | 0.5 | 13,163,275 | |
Mitsubishi UFJ Financial Group, Inc. | 3,029,009 | 0.5 | 15,629,106 | |
SoftBank Group Corp. | 227,000 | 0.5 | 14,296,705 | |
Sumitomo Mitsui Financial Group, Inc. | 318,746 | 0.4 | 11,051,454 | |
Toyota Motor Corp. | 633,703 | 1.3 | 36,759,029 | |
Other Securities | 20.8 | 604,388,597 | ||
24.4 | 706,877,970 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Netherlands 3.3% | ||||
ING Groep N.V. | 916,628 | 0.4 | 12,032,586 | |
Unilever N.V. CVA | 385,786 | 0.6 | 16,135,876 | |
Other Securities | 2.3 | 67,693,801 | ||
3.3 | 95,862,263 | |||
New Zealand 0.2% | ||||
Other Securities | 0.2 | 5,553,226 | ||
Norway 0.6% | ||||
Other Securities | 0.6 | 18,599,518 | ||
Portugal 0.1% | ||||
Other Securities | 0.1 | 4,303,255 | ||
Singapore 1.2% | ||||
Other Securities | 1.2 | 35,453,174 | ||
Spain 3.2% | ||||
Banco Bilbao Vizcaya Argentaria S.A. | 1,553,324 | 0.4 | 11,181,894 | |
Banco Santander S.A. | 3,427,155 | 0.6 | 16,793,148 | |
Telefonica S.A. | 1,064,002 | 0.4 | 10,810,902 | |
Other Securities | 1.8 | 52,907,446 | ||
3.2 | 91,693,390 | |||
Sweden 2.7% | ||||
Other Securities | 2.7 | 78,029,804 | ||
Switzerland 8.6% | ||||
Nestle S.A. - Reg'd | 756,637 | 1.9 | 54,866,676 | |
Novartis AG - Reg'd | 529,525 | 1.3 | 37,579,109 | |
Roche Holding AG | 166,552 | 1.3 | 38,253,921 | |
UBS Group AG - Reg’d | 867,013 | 0.4 | 12,257,534 | |
Other Securities | 3.7 | 105,526,323 | ||
8.6 | 248,483,563 | |||
United Kingdom 17.6% | ||||
AstraZeneca plc | 300,370 | 0.6 | 16,819,242 | |
BP plc | 4,423,880 | 0.9 | 26,152,670 | |
British American Tobacco plc | 442,118 | 0.9 | 25,339,080 | |
Diageo plc | 598,553 | 0.5 | 15,931,409 | |
GlaxoSmithKline plc | 1,154,817 | 0.8 | 22,812,633 | |
HSBC Holdings plc | 4,699,826 | 1.2 | 35,395,032 | |
Imperial Brands plc | 227,021 | 0.4 | 10,981,419 | |
National Grid plc | 887,446 | 0.4 | 11,543,699 | |
Reckitt Benckiser Group plc | 151,028 | 0.5 | 13,511,041 | |
Royal Dutch Shell plc, A Shares | 1,009,722 | 0.9 | 25,149,186 | |
Royal Dutch Shell plc, B Shares | 893,242 | 0.8 | 23,038,947 | |
Shire plc | 211,882 | 0.4 | 11,963,429 | |
Unilever plc | 304,589 | 0.4 | 12,716,347 | |
Vodafone Group plc | 6,301,334 | 0.6 | 17,305,509 | |
Other Securities | 8.3 | 242,682,781 | ||
17.6 | 511,342,424 | |||
Total Common Stock | ||||
(Cost $2,555,902,633) | 2,840,451,179 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Preferred Stock 0.6% of net assets | ||||
Germany 0.5% | ||||
Other Securities | 0.5 | 15,806,666 | ||
Italy 0.1% | ||||
Other Securities | 0.1 | 1,501,402 | ||
Total Preferred Stock | ||||
(Cost $17,481,434) | 17,308,068 | |||
Rights 0.0% of net assets | ||||
Italy 0.0% | ||||
Other Securities | 0.0 | — | ||
Spain 0.0% | ||||
Other Securities | 0.0 | 50,226 | ||
Sweden 0.0% | ||||
Other Securities | 0.0 | 22,380 | ||
Total Rights | ||||
(Cost $52,470) | 72,606 | |||
Other Investment Company 0.2% of net assets | ||||
United States 0.2% | ||||
Securities Lending Collateral 0.2% | ||||
Other Securities | 0.2 | 3,953,494 | ||
Total Other Investment Company | ||||
(Cost $3,953,494) | 3,953,494 | |||
Security Rate, Maturity Date | Face Amount ($) | % of Net Assets | Value ($) | |
Short-Term Investments 0.9% of net assets | ||||
Time Deposits 0.9% | ||||
Sumitomo Mitsui Banking Corp. 0.15%, 11/01/16 (e) | 24,352,712 | 0.8 | 24,352,712 | |
Other Securities | 0.1 | 2,401,277 | ||
0.9 | 26,753,989 | |||
Total Short-Term Investments | ||||
(Cost $26,753,989) | 26,753,989 |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $3,735,911. |
(b) | Illiquid security. At the period end, the value of these amounted to $46,552 or 0.0% of net assets. |
(c) | The rate shown is the 7-day yield. |
(d) | Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $12,909,094 or 0.4% of net assets. |
(e) | The rate shown is the current daily overnight rate. |
(f) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
ADR — | American Depositary Receipt |
CDI — | CHESS Depositary Interest |
CVA — | Dutch Certificate |
Reg'd — | Registered |
REIT — | Real Estate Investment Trust |
RSP — | Risparmio (Convertible Savings Shares) |
SDR — | Swedish Depositary Receipt |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
MSCI EAFE, e-mini, Long, expires 12/16/16 | 400 | 33,314,000 | (428,653) |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Common Stock1 | $— | $1,568,919,611 | $— * | $1,568,919,611 | |
Belgium | 21,789,045 | 14,997,669 | — | 36,786,714 | |
Germany | 1,310,467 | 244,667,920 | — | 245,978,387 | |
Hong Kong | 5,242,526 | 95,566,266 | — | 100,808,792 | |
Ireland | 2,675,284 | 10,255,690 | — | 12,930,974 | |
Israel | 4,550,090 | 14,788,361 | — | 19,338,451 | |
Netherlands | 8,663,832 | 87,198,431 | — | 95,862,263 | |
Switzerland | 1,427,113 | 247,056,450 | — | 248,483,563 | |
United Kingdom | — | 511,318,252 | 24,172 | 511,342,424 | |
Preferred Stock1 | — | 17,308,068 | — | 17,308,068 | |
Rights | |||||
Italy | — | — | — * | — | |
Spain | 50,226 | — | — | 50,226 | |
Sweden | — | — | 22,380 | 22,380 | |
Other Investment Company1 | 3,953,494 | — | — | 3,953,494 | |
Short-Term Investments1 | — | 26,753,989 | — | 26,753,989 | |
Total | $49,662,077 | $2,838,830,707 | $46,552 | $2,888,539,336 | |
Liabilities Valuation Input | |||||
Other Financial Instruments | |||||
Futures Contracts2 | ($428,653) | $— | $— | ($428,653) |
* | Level 3 amount shown includes securities determined to have no value at October 31, 2016. |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of Condensed Portfolio Holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments, at value (cost $2,600,190,526) including securities on loan of $3,735,911 | $2,884,585,842 | |
Collateral invested for securities on loan, at value (cost $3,953,494) | + | 3,953,494 |
Total investments, at value (cost $2,604,144,020) | 2,888,539,336 | |
Foreign currency, at value (cost $251,821) | 247,395 | |
Deposit with broker for futures contracts | 1,890,000 | |
Receivables: | ||
Dividends | 6,899,548 | |
Foreign tax reclaims | 4,824,950 | |
Fund shares sold | 4,006,906 | |
Income from securities on loan | 43,733 | |
Variation margin on futures contracts | 18,000 | |
Interest | 101 | |
Prepaid expenses | + | 50,857 |
Total assets | 2,906,520,826 | |
Liabilities | ||
Collateral held for securities on loan | 3,953,494 | |
Payables: | ||
Investments bought | 52,544 | |
Investment adviser and administrator fees | 320,118 | |
Shareholder service fees | 8,085 | |
Fund shares redeemed | 1,367,389 | |
Accrued expenses | + | 370,068 |
Total liabilities | 6,071,698 | |
Net Assets | ||
Total assets | 2,906,520,826 | |
Total liabilities | – | 6,071,698 |
Net assets | $2,900,449,128 | |
Net Assets by Source | ||
Capital received from investors | 2,679,838,099 | |
Net investment income not yet distributed | 63,872,618 | |
Net realized capital losses | (126,778,707) | |
Net unrealized capital appreciation | 283,517,118 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$2,900,449,128 | 165,507,912 | $17.52 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $8,865,815) | $91,787,563 | |
Interest | 20,855 | |
Securities on loan | + | 1,537,344 |
Total investment income | 93,345,762 | |
Expenses | ||
Investment adviser and administrator fees | 4,306,862 | |
Shareholder service fees | 537,050 | |
Index fees | 523,325 | |
Custodian fees | 497,200 | |
Professional fees | 190,619* | |
Shareholder reports | 152,860 | |
Registration fees | 129,428 | |
Portfolio accounting fees | 113,341 | |
Transfer agent fees | 59,825 | |
Proxy fees | 45,807 | |
Independent trustees' fees | 24,966 | |
Interest expense | 2,448 | |
Other expenses | + | 76,181 |
Total expenses | 6,659,912 | |
Expense reduction by CSIM and its affiliates | – | 1,156,298 |
Net expenses | – | 5,503,614 |
Net investment income | 87,842,148 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments | (37,049,366) | |
Net realized losses on futures contracts | (4,801,478) | |
Net realized losses on foreign currency transactions | + | (102,012) |
Net realized losses | (41,952,856) | |
Net change in unrealized appreciation (depreciation) on investments | (118,190,338) | |
Net change in unrealized appreciation (depreciation) on futures contracts | (694,783) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | (247,515) |
Net change in unrealized appreciation (depreciation) | + | (119,132,636) |
Net realized and unrealized losses | (161,085,492) | |
Decrease in net assets resulting from operations | ($73,243,344) |
* | Includes professional fees of $131,932 associated with the filing of tax claims in the European Union deemed to be non-routine expenses of the fund. See financial notes 2 and 4 for additional information. |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $87,842,148 | $77,423,909 | ||
Net realized losses | (41,952,856) | (60,245,085) | ||
Net change in unrealized appreciation (depreciation) | + | (119,132,636) | (78,449,200) | |
Decrease in net assets from operations | (73,243,344) | (61,270,376) | ||
Distributions to Shareholders | ||||
Distributions from net investment income | ($77,100,360) | ($87,032,492) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 64,054,024 | $1,096,906,593 | 59,133,426 | $1,111,348,958 | ||||
Shares reinvested | 3,569,073 | 61,423,757 | 4,061,536 | 72,539,032 | ||||
Shares redeemed | + | (55,915,117) | (951,870,981) | (48,379,691) | (890,397,689) | |||
Net transactions in fund shares | 11,707,980 | $206,459,369 | 14,815,271 | $293,490,301 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 153,799,932 | $2,844,333,463 | 138,984,661 | $2,699,146,030 | ||||
Total increase | + | 11,707,980 | 56,115,665 | 14,815,271 | 145,187,433 | |||
End of period | 165,507,912 | $2,900,449,128 | 153,799,932 | $2,844,333,463 | ||||
Net investment income not yet distributed | $63,872,618 | $53,167,370 |
SCHWAB CAPITAL TRUST (ORGANIZED MAY 7, 1993) | |
Schwab S&P 500 Index Fund | Schwab Target 2045 Fund |
Schwab Small-Cap Index Fund | Schwab Target 2050 Fund |
Schwab Total Stock Market Index Fund | Schwab Target 2055 Fund |
Schwab International Index Fund | Schwab Target 2060 Fund |
Schwab MarketTrack All Equity Portfolio™ | Schwab Fundamental US Large Company Index Fund |
Schwab MarketTrack Growth Portfolio™ | Schwab Fundamental US Small Company Index Fund |
Schwab MarketTrack Balanced Portfolio™ | Schwab Fundamental International Large Company Index Fund |
Schwab MarketTrack Conservative Portfolio™ | Schwab Fundamental International Small Company Index Fund |
Laudus Small-Cap MarketMasters Fund™ | Schwab Fundamental Emerging Markets Large Company Index Fund |
Laudus International MarketMasters Fund™ | Schwab Fundamental Global Real Estate Index Fund |
Schwab Balanced Fund™ | Schwab Target 2010 Index Fund |
Schwab Core Equity Fund™ | Schwab Target 2015 Index Fund |
Schwab Dividend Equity Fund™ | Schwab Target 2020 Index Fund |
Schwab Large-Cap Growth Fund™ | Schwab Target 2025 Index Fund |
Schwab Small-Cap Equity Fund™ | Schwab Target 2030 Index Fund |
Schwab Hedged Equity Fund™ | Schwab Target 2035 Index Fund |
Schwab Health Care Fund™ | Schwab Target 2040 Index Fund |
Schwab ® International Core Equity Fund | Schwab Target 2045 Index Fund |
Schwab Target 2010 Fund | Schwab Target 2050 Index Fund |
Schwab Target 2015 Fund | Schwab Target 2055 Index Fund |
Schwab Target 2020 Fund | Schwab Target 2060 Index Fund |
Schwab Target 2025 Fund | Schwab ® Monthly Income Fund – Moderate Payout |
Schwab Target 2030 Fund | Schwab ® Monthly Income Fund – Enhanced Payout |
Schwab Target 2035 Fund | Schwab ® Monthly Income Fund – Maximum Payout |
Schwab Target 2040 Fund | |
SCHWAB INVESTMENTS (ORGANIZED OCTOBER 26, 1990) | |
Schwab 1000 Index Fund | Schwab ® Treasury Inflation Protected Securities Index Fund |
Schwab Short-Term Bond Market Fund™ | Schwab Tax-Free Bond Fund™ |
Schwab Intermediate-Term Bond Fund™ | Schwab California Tax-Free Bond Fund™ |
Schwab Total Bond Market Fund™ | Schwab Global Real Estate Fund™ |
Schwab GNMA Fund™ |
2. Significant Accounting Policies:
3. Risk Factors:
4. Affiliates and Affiliated Transactions:
% of Average Daily Net Assets | Schwab 1000 Index Fund |
First $500 million | 0.30% |
$500 million to $5 billion | 0.22% |
$5 billion to $10 billion | 0.20% |
Over $10 billion | 0.18% |
Schwab S&P 500 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab International Index Fund |
0.06% | 0.15% | 0.06% | 0.15% |
Schwab S&P 500 Index Fund | Schwab 1000 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab International Index Fund |
0.02% | 0.10% | 0.02% | 0.02% | 0.02% |
Schwab S&P 500 Index Fund | Schwab 1000 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab International Index Fund |
0.09% | 0.29% | 0.17% | 0.09% | 0.19% |
Fund | Balance of Shares Held at 10/31/15 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/16 | Market Value at 10/31/16 | Realized Gains (Losses) 11/01/15 to 10/31/16 | Dividends Received 11/01/15 to 10/31/16 |
Schwab S&P 500 Index Fund | 1,402,481 | 77,900 | — | 1,480,381 | $46,928,078 | $— | $372,825 |
Schwab 1000 Index Fund | 375,265 | — | — | 375,265 | $11,895,900 | $— | $97,569 |
Schwab Total Stock Market Index Fund | 240,126 | 10,000 | — | 250,126 | $7,928,994 | $— | $63,833 |
Underlying Funds | |||||
Schwab S&P 500 Index Fund | Schwab 1000 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab International Index Fund | |
Schwab MarketTrack All Equity Portfolio | 0.8% | —% | 3.6% | —% | 2.6% |
Schwab MarketTrack Growth Portfolio | 0.9% | —% | 3.7% | —% | 2.3% |
Schwab MarketTrack Balanced Portfolio | 0.5% | —% | 2.0% | —% | 1.2% |
Schwab MarketTrack Conservative Portfolio | 0.1% | —% | 0.6% | —% | 0.4% |
Schwab MarketTrack Growth Portfolio II | 0.0%* | 0.0%* | 0.2% | —% | 0.2% |
Schwab Target 2010 Fund | 0.0%* | —% | —% | —% | —% |
Schwab Target 2015 Fund | 0.0%* | —% | —% | —% | —% |
Schwab Target 2020 Fund | 0.2% | —% | —% | —% | —% |
Schwab Target 2025 Fund | 0.2% | —% | —% | —% | —% |
Schwab Target 2030 Fund | 0.4% | —% | —% | —% | —% |
Schwab Target 2035 Fund | 0.2% | —% | —% | —% | —% |
Schwab Target 2040 Fund | 0.4% | —% | —% | —% | —% |
Schwab Target 2045 Fund | 0.0%* | —% | —% | —% | —% |
Schwab Target 2050 Fund | 0.0%* | —% | —% | —% | —% |
Schwab Target 2055 Fund | 0.0%* | —% | —% | —% | —% |
Schwab Target 2060 Fund | 0.0%* | —% | —% | —% | —% |
* | Less than 0.05% |
Total Aggregate Transactions | Realized Gains (Losses) | |
Schwab S&P 500 Index Fund | $158,474,212 | $1,443,088 |
Schwab 1000 Index Fund | 41,933,578 | 1,736,974 |
Schwab Small-Cap Index Fund | 31,392,532 | (2,042,975) |
Schwab Total Stock Market Index Fund | 30,034,077 | (6,888,006) |
Schwab International Index Fund | — | — |
5. Board of Trustees:
6. Borrowing from Banks:
7. Derivatives:
Contract Values | Number of Contracts | |
Schwab S&P 500 Index Fund | $170,403,094 | 1,656 |
Schwab 1000 Index Fund | 46,898,617 | 454 |
Schwab Small-Cap Index Fund | 18,160,921 | 157 |
Schwab Total Stock Market Index Fund | 38,980,373 | 374 |
Schwab International Index Fund | 22,156,352 | 266 |
8. Purchases and Sales/Maturities of Investment Securities:
Purchases of Securities | Sales/Maturities of Securities | |
Schwab S&P 500 Index Fund | $1,324,088,097 | $473,170,100 |
Schwab 1000 Index Fund | 221,463,322 | 351,710,499 |
Schwab Small-Cap Index Fund | 472,460,341 | 427,087,834 |
Schwab Total Stock Market Index Fund | 413,677,694 | 55,590,041 |
Schwab International Index Fund | 345,079,557 | 123,665,667 |
9. Redemption Fee:
Current Period (11/1/15-10/31/16) | Prior Period (11/1/14-10/31/15) | |
Schwab S&P 500 Index Fund | $369,401 | $266,905 |
Schwab 1000 Index Fund | 27,980 | 44,069 |
Schwab Small-Cap Index Fund | 12,505 | 34,586 |
Schwab Total Stock Market Index Fund | 54,925 | 50,564 |
Schwab International Index Fund | 46,804 | 27,617 |
10. Federal Income Taxes:
Schwab S&P 500 Index Fund | Schwab 1000 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab International Index Fund | |||||
Undistributed ordinary income | $377,944,709 | $93,428,871 | $30,361,938 | $75,035,075 | $84,698,256 | ||||
Undistributed long-term capital gains | 122,940,295 | 104,585,704 | 77,928,741 | 23,619,453 | — | ||||
Unrealized appreciation on investments | 10,049,075,204 | 4,517,631,042 | 808,218,794 | 1,826,837,441 | 530,418,159 | ||||
Unrealized depreciation on investments | (563,136,035) | (21,767,038) | (245,459,896) | (127,275,257) | (285,295,837) | ||||
Other unrealized appreciation (depreciation) | — | — | — | — | (449,545) | ||||
Net unrealized appreciation (depreciation) | $9,485,939,169 | $4,495,864,004 | $562,758,898 | $1,699,562,184 | $244,672,777 |
Expiration Date | Schwab S&P 500 Index Fund | Schwab 1000 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab International Index Fund | ||||
October 31, 2017 | $— | $— | $— | $— | $13,252,761 | ||||
No expiration* | — | — | — | — | 95,507,243 | ||||
Total | $— | $— | $— | $— | $108,760,004 |
* | As a result of the passage of the Regulated Investment Company Modernization Act of 2010, capital losses incurred after December 31, 2010 may now be carried forward indefinitely, but must retain the character of the original loss. |
Schwab S&P 500 Index Fund | Schwab 1000 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab International Index Fund | |
Current period distributions | |||||
Ordinary income | $445,863,757 | $116,634,011 | $46,401,819 | $85,807,300 | $77,100,360 |
Long-term capital gains | 213,585,458 | 264,435,992 | 123,568,288 | 35,893,803 | — |
Prior period distributions | |||||
Ordinary income | $369,772,138 | $110,332,491 | $41,501,610 | $75,210,034 | $87,032,492 |
Long-term capital gains | — | 171,945,895 | 130,862,912 | 16,307,399 | — |
Schwab S&P 500 Index Fund | Schwab 1000 Index Fund | Schwab Small-Cap Index Fund | Schwab Total Stock Market Index Fund | Schwab International Index Fund | |
Capital shares | $— | $— | $— | $— | $— |
Undistributed net investment income | (5,248,019) | (1,735,466) | (972,228) | (3,832,072) | (36,540) |
Net realized capital gains (losses) | 5,248,019 | 1,735,466 | 972,228 | 3,832,072 | 36,540 |
12. Subsequent Events:
Schwab S&P 500 Index Fund
Schwab 1000 Index Fund
Schwab Small-Cap Index Fund
Schwab Total Stock Market Index Fund
Schwab International Index Fund
San Francisco, California
December 16, 2016
Percentage | |
Schwab S&P 500 Index Fund | 93.54 |
Schwab 1000 Index Fund | 100.00 |
Schwab Small-Cap Index Fund | 52.63 |
Schwab Total Stock Market Index Fund | 89.04 |
Schwab International Index Fund | — |
Schwab S&P 500 Index Fund | $444,667,596 |
Schwab 1000 Index Fund | 116,634,011 |
Schwab Small-Cap Index Fund | 25,340,018 |
Schwab Total Stock Market Index Fund | 82,181,627 |
Schwab International Index Fund | 75,370,359 |
Schwab S&P 500 Index Fund | $213,585,458 |
Schwab 1000 Index Fund | 264,435,992 |
Schwab Small-Cap Index Fund | 123,568,288 |
Schwab Total Stock Market Index Fund | 35,893,803 |
Schwab International Index Fund | — |
1. | the nature, extent and quality of the services provided to the Funds under the Agreements, including the resources of CSIM and its affiliates dedicated to the Funds; |
2. | each Fund’s investment performance and how it compared to that of certain other comparable mutual funds; |
3. | each Fund’s expenses and how those expenses compared to those of certain other comparable mutual funds, exchange-traded funds and other accounts; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to CSIM and its affiliates; and |
5. | the extent to which economies of scale would be realized as the Funds grow and whether fee levels in the Agreements reflect those economies of scale for the benefit of Fund investors. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor (Jan. 2009 – present). Formerly, Managing Director, Pacific Investment Management Company, LLC (PIMCO) and President, PIMCO Funds. | 108 | Director, PS Business Parks, Inc. (2005 – 2012) |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Fellow, The Hoover Institution at Stanford University (Oct. 1979 – present); Senior Fellow, Stanford Institute for Economic Policy Research (2000 – present); Professor of Public Policy, Stanford University (1994 – 2015). | 108 | Director, Gilead Sciences, Inc. (2005 – present) |
Stephen Timothy Kochis 1946 Trustee (Trustee of Schwab Strategic Trust since 2012; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | CEO and Owner, Kochis Global (wealth management consulting) (May 2012 – present); Chairman and CEO, Aspiriant, LLC (wealth management) (Jan. 2008 – Apr. 2012). | 108 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 108 | Director, Symantec Corporation (2003 – present) Director, Corcept Therapeutics Incorporated (2004 – present) Director, Adamas Pharmaceuticals, Inc. (2009 – present) |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. Executive Vice President and General Manager of Small Business Group, Intuit, Inc. (financial software and services firm for consumers and small businesses) (Dec. 2008 – Sept. 2013). | 108 | Director, KLA-Tencor Corporation (2008 – present) |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant, Patmore Management Consulting (management consulting) (2008 – present). | 108 | None |
Charles A. Ruffel 1956 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2015) | Co-Chief Executive Officer, Kudu Investment Management, LLC (financial services) (Jan. 2015 – present); Partner, Kudu Advisors, LLC (financial services) (June 2008 – Jan. 2015); Advisor, Asset International, Inc. (publisher of financial services information) (Aug. 2008 – Jan. 2015). | 108 | None |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Chairman, Chief Executive Officer and Founder of Smith Graham & Co. (investment advisors) (Mar. 1990 – present). | 108 | Director, Eaton (2012 – present) Director and Chairman of the Audit Committee, Oneok Partners LP (2003 – 2013) Director, Oneok, Inc. (2009 – 2013) Lead Independent Director, Board of Cooper Industries (2002 – 2012) |
Joseph H. Wender 1944 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Consultant, Goldman Sachs & Co., Inc. (investment banking and securities firm) (Jan. 2008 – present); Partner, Colgin Partners, LLC (vineyards) (Feb. 1998 – present). | 108 | Board Member and Chairman of the Audit Committee, Ionis Pharmaceuticals (1994 – present) Lead Independent Director and Chair of Audit Committee, OUTFRONT Media Inc. (2014 – present) |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Director, President and Chief Executive Officer, The Charles Schwab Corporation (Oct. 2008 – present); President and Chief Executive Officer (Oct. 2008 – present), Director (May 2008 – present), Charles Schwab & Co., Inc.; Director, Charles Schwab Bank (Apr. 2006 – present); and Director, Schwab Holdings, Inc. (May 2008 – present). | 108 | Director, The Charles Schwab Corporation (2008 – present) |
Marie A. Chandoha2 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; Trustee (Jan. 2016 – present), President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Jan. 2011 – present); Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (Mar. 2007 – Aug. 2010). | 108 | None |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Senior Executive Vice President and Chief Financial Officer, The Charles Schwab Corporation and Charles Schwab & Co., Inc. (July 2015 – present); Executive Vice President and Chief Financial Officer of The Charles Schwab Corporation and Charles Schwab & Co., Inc. (May 2007 – July 2015); Director, Charles Schwab & Co., Inc. (May 2007 – present); Director (Apr. 2010 – present) and Chief Executive Officer (July 2013 – Apr. 2015), Charles Schwab Bank; Director, Executive Vice President and Chief Financial Officer, Schwab Holdings, Inc. (May 2007 – present). | 108 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Marie A. Chandoha 1961 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2010) | Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; Trustee (Jan. 2016 – present), President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Jan. 2011 – present); Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (Mar. 2007 – Aug. 2010). |
Mark Fischer 1970 Treasurer and Chief Financial Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer, Schwab Funds, Laudus Funds and Schwab ETFs (Jan. 2016 – present); Assistant Treasurer, Schwab Funds and Laudus Funds (Dec. 2013 – Dec. 2015), Schwab ETFs (Nov. 2013 – Dec. 2015); Vice President, Charles Schwab Investment Management, Inc. (Oct. 2013 – present); Executive Director, J.P. Morgan Investor Services (Apr. 2011 – Sept. 2013); Assistant Treasurer, Massachusetts Financial Service Investment Management (May 2005 – Mar. 2011). |
Officers of the Trust (continued) | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
George Pereira 1964 Senior Vice President and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2004; Laudus Trust since 2006; Schwab Strategic Trust since 2009) | Senior Vice President and Chief Financial Officer (Nov. 2004 – present), Chief Operating Officer (Jan. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Operating Officer (Jan. 2016 – present), Treasurer and Chief Financial Officer, Laudus Funds (June 2006 – Dec. 2015); Treasurer and Principal Financial Officer, Schwab Funds (Nov. 2004 – Dec. 2015) and Schwab ETFs (Oct. 2009 – Dec. 2015); Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Apr. 2005 – present). |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies, Charles Schwab Investment Management, Inc. (Apr. 2011 – present); Senior Vice President and Chief Investment Officer – Equities, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Head of the Portfolio Management Group and Vice President of Portfolio Management, Financial Engines, Inc. (May 2009 – Apr. 2011); Head of Quantitative Equity, ING Investment Management (July 2004 – Jan. 2009). |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer – Fixed Income, Charles Schwab Investment Management, Inc. (Apr. 2011 – present); Senior Vice President and Chief Investment Officer – Fixed Income, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Senior Managing Director, Global Head of Active Fixed-Income Strategies, State Street Global Advisors (Jan. 2008 – Oct. 2010); Director of Alpha Strategies Loomis, Sayles & Company (Apr. 2006 – Jan. 2008). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President (Sept. 2011 – present), Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present), Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (Apr. 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk, Laudus Funds (Apr. 2011 – present); Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Vice President, Charles Schwab & Co., Inc., Charles Schwab Investment Management, Inc. (July 2005 – present); Vice President (Dec. 2005 – present), Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary, Schwab ETFs (Oct. 2009 – present). |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger, Ms. Chandoha, and Mr. Martinetto are Interested Trustees because they own stock of The Charles Schwab Corporation, the parent company of the investment adviser. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
THIS IS NOT PART OF THE SHAREHOLDER REPORT
INFORMATION.
INFORMATION.
Partnership
Member SIPC®
Printed on recycled paper.
1 | You could lose money by investing in a money market fund. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Effective October 14, 2016, all Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The money market fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time. |
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Table of Contents
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US Large Company Index Fund
US Small Company Index Fund
International Large Company
Index Fund
International Small Company
Index Fund
Emerging Markets Large
Company Index Fund
* | SCHWAB is a registered trademark of Charles Schwab & Co., Inc. FUNDAMENTAL INDEX is a registered trademark of Research Affiliates LLC. |
Total Return for the 12 Months Ended October 31, 2016 | |
Schwab Fundamental US Large Company Index Fund (Ticker Symbol: SFLNX) | 5.61% |
Russell RAFI U.S. Large Company Index2 | 5.94% |
Fund Category: Morningstar Large Value | 3.72% |
Performance Details | pages 8-10 |
Schwab Fundamental US Small Company Index Fund (Ticker Symbol: SFSNX) | 5.37% |
Russell RAFI U.S. Small Company Index2 | 5.63% |
Fund Category: Morningstar Small Blend | 2.91% |
Performance Details | pages 11-13 |
Schwab Fundamental International Large Company Index Fund1 (Ticker Symbol: SFNNX) | 0.07% |
Russell RAFI Developed ex-U.S. Large Company Index (Net)2,3 | -0.09% |
Fund Category: Morningstar Foreign Large Value | -1.81% |
Performance Details | pages 14-16 |
Total Return for the 12 Months Ended October 31, 2016 | |
Schwab Fundamental International Small Company Index Fund1 (Ticker Symbol: SFILX) | 8.29% |
Russell RAFI Developed ex-U.S. Small Company Index (Net)2,3 | 8.21% |
Fund Category: Morningstar Foreign Small/Mid Blend | 1.77% |
Performance Details | pages 17-19 |
Schwab Fundamental Emerging Markets Large Company Index Fund1 (Ticker Symbol: SFENX) | 21.64% |
Russell RAFI Emerging Markets Large Company Index (Net)2,3 | 22.48% |
Fund Category: Morningstar Diversified Emerging Markets | 8.11% |
Performance Details | pages 20-22 |
Minimum Initial Investment4 | $100 |
1 | The fund’s performance relative to the index may be affected by fair-value pricing and timing differences in foreign exchange calculations. See financial note 2 for more information. |
2 | Effective December 1, 2016, the name of the index was changed by the index provider. No other changes have occurred. |
3 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
4 | Please see the funds’ prospectus for further detail and eligibility requirements. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g22839img440452f62.jpg)
President and CEO of
Charles Schwab Investment
Management, Inc. and the
funds covered in this report.
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![]() | Agnes Hong, CFA, Vice President and Senior Portfolio Manager, is responsible for the day-to-day co-management of the funds. Prior to joining CSIM in 2009, Ms. Hong spent five years as a portfolio manager at Barclays Global Investors (subsequently acquired by BlackRock), where she managed institutional index funds and quantitative active funds. Prior to that, Ms. Hong worked in management consulting and product management, servicing global financial services clients. |
![]() | Ferian Juwono, CFA, Managing Director and Senior Portfolio Manager, is responsible for the day-to-day co-management of the funds. Prior to joining CSIM in 2010, Mr. Juwono worked at BlackRock (formerly Barclays Global Investors), where he spent more than three years as a portfolio manager, managing equity index funds for institutional clients, and nearly two years as a senior business analyst. Prior to that, Mr. Juwono worked for more than four years as a senior financial analyst with Union Bank of California. |
![]() | Jane Qin, Portfolio Manager, is responsible for the day-to-day co-management of the Schwab Fundamental US Large Company Index Fund, Schwab Fundamental US Small Company Index Fund, Schwab Fundamental International Large Company Index Fund, and Schwab Fundamental International Small Company Index Fund. Prior to joining CSIM in December 2012, Ms. Qin spent more than four years at The Bank of New York Mellon Corporation. During that time, Ms. Qin spent more than two years as an associate equity portfolio manager and nearly two years as a performance analyst. She also worked at Wells Fargo Funds Management as a mutual fund analyst and at CIGNA Reinsurance in Risk Management group as a risk analyst. |
1 | Effective December 1, 2016, the name of the index was changed by the index provider. No other changes have occurred. |
Number of Holdings | 652 |
Weighted Average Market Cap (millions) | $119,154 |
Price/Earnings Ratio (P/E) | 17.7 |
Price/Book Ratio (P/B) | 2.1 |
Portfolio Turnover Rate | 11% |
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1 | This list is not a recommendation of any security by the investment adviser. |
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Fund and Inception Date | 1 Year | 5 Years | Since Inception |
Fund: Schwab Fundamental US Large Company Index Fund (4/2/07) | 5.61% | 13.14% | 6.88% |
Russell RAFI U.S. Large Company Index3 | 5.94% | 13.66% | N/A |
Fundamental U.S. Large Company Spliced Index | 5.94% | 13.57% | 7.12% |
Fund Category: Morningstar Large Value | 3.72% | 11.34% | 4.26% |
Fund Expense Ratios5: Net 0.35%; Gross 0.39% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On October 27, 2009, the Investor Share class, Select Share class and Institutional Share class were combined into a single class of shares of the fund, and the fund no longer offers multiple classes of shares. The performance history of the fund prior to October 27, 2009 is that of the fund’s former Institutional Shares. |
3 | The inception date of the Russell RAFI U.S. Large Company Index is February 24, 2011. The fund began tracking the index on October 19, 2012. |
4 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
5 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
1 | Effective December 1, 2016, the name of the index was changed by the index provider. No other changes have occurred. |
Number of Holdings | 866 |
Weighted Average Market Cap (millions) | $3,849 |
Price/Earnings Ratio (P/E) | 18.6 |
Price/Book Ratio (P/B) | 1.7 |
Portfolio Turnover Rate | 30% |
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1 | This list is not a recommendation of any security by the investment adviser. |
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Fund and Inception Date | 1 Year | 5 Years | Since Inception |
Fund: Schwab Fundamental US Small Company Index Fund (4/2/07) | 5.37% | 12.60% | 7.40% |
Russell RAFI U.S. Small Company Index3 | 5.63% | 13.13% | N/A |
Fundamental U.S. Small Company Spliced Index | 5.63% | 12.91% | 7.91% |
Fund Category: Morningstar Small Blend | 2.91% | 10.53% | 5.05% |
Fund Expense Ratios5: Net 0.35%; Gross 0.43% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On October 27, 2009, the Investor Share class, Select Share class and Institutional Share class were combined into a single class of shares of the fund, and the fund no longer offers multiple classes of shares. The performance history of the fund prior to October 27, 2009 is that of the fund’s former Institutional Shares. |
3 | The inception date of the Russell RAFI U.S. Small Company Index is February 24, 2011. The fund began tracking the index on October 19, 2012. |
4 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
5 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
1 | Effective December 1, 2016, the name of the index was changed by the index provider. No other changes have occurred. |
2 | Typically, the securities in the index are valued using foreign exchange rates obtained at the close of the London foreign currency exchange (11:00 AM EST). Securities in the fund, however, are valued using foreign exchange rates obtained at the close of the New York foreign currency exchange (4:00 PM EST). This difference in closing times can result in different foreign currency exchange rates between the two exchanges, and thus different foreign currency exchange rates used in the valuation of the index’s and fund’s securities. |
Number of Holdings | 843 |
Weighted Average Market Cap (millions) | $51,646 |
Price/Earnings Ratio (P/E) | 16.3 |
Price/Book Ratio (P/B) | 1.3 |
Portfolio Turnover Rate | 18% |
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1 | This list is not a recommendation of any security by the investment adviser. |
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Fund and Inception Date | 1 Year | 5 Years | Since Inception |
Fund: Schwab Fundamental International Large Company Index Fund (4/2/07) | 0.07% | 5.09% | 0.49% |
Russell RAFI Developed ex-U.S. Large Company Index (Net)3,4 | -0.09% | 5.09% | N/A |
Fundamental Developed ex-U.S. Large Company Spliced Index | -0.09% | 5.16% | 1.19% |
Fund Category: Morningstar Foreign Large Value | -1.81% | 4.11% | -0.28% |
Fund Expense Ratios6: Net 0.35%; Gross 0.46% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On October 19, 2009, the Investor Share class, Select Share class and Institutional Share class were combined into a single class of shares of the fund, and the fund no longer offers multiple classes of shares. The performance history of the fund prior to October 19, 2009 is that of the fund’s former Institutional Shares. |
3 | The inception date of the Russell RAFI Developed ex-U.S. Large Company Index (Net) is February 24, 2011. The fund began tracking the index on October 19, 2012. |
4 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
5 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
6 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
1 | Effective December 1, 2016, the name of the index was changed by the index provider. No other changes have occurred. |
2 | Typically, the securities in the index are valued using foreign exchange rates obtained at the close of the London foreign currency exchange (11:00 AM EST). Securities in the fund, however, are valued using foreign exchange rates obtained at the close of the New York foreign currency exchange (4:00 PM EST). This difference in closing times can result in different foreign currency exchange rates between the two exchanges, and thus different foreign currency exchange rates used in the valuation of the index’s and fund’s securities. |
Number of Holdings | 1,445 |
Weighted Average Market Cap (millions) | $3,136 |
Price/Earnings Ratio (P/E) | 16.1 |
Price/Book Ratio (P/B) | 1.3 |
Portfolio Turnover Rate | 40% |
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1 | This list is not a recommendation of any security by the investment adviser. |
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Fund and Inception Date | 1 Year | 5 Years | Since Inception |
Fund: Schwab Fundamental International Small Company Index Fund (1/31/08) | 8.29% | 8.34% | 5.34% |
Russell RAFI Developed ex-U.S. Small Company Index (Net)3,4 | 8.21% | 9.23% | N/A |
Fundamental Developed ex-U.S. Small Company Spliced Index | 8.21% | 8.63% | 6.59% |
Fund Category: Morningstar Foreign Small/Mid Blend | 1.77% | 7.52% | 3.51% |
Fund Expense Ratios6: Net 0.49%; Gross 0.71% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On October 19, 2009, the Investor Share class, Select Share class and Institutional Share class were combined into a single class of shares of the fund, and the fund no longer offers multiple classes of shares. The performance history of the fund prior to October 19, 2009 is that of the fund’s former Institutional Shares. |
3 | The inception date of the Russell RAFI Developed ex-U.S. Small Company Index (Net) is February 24, 2011. The fund began tracking the index on October 19, 2012. |
4 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
5 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
6 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
1 | Effective December 1, 2016, the name of the index was changed by the index provider. No other changes have occurred. |
Number of Holdings | 298 |
Weighted Average Market Cap (millions) | $56,680 |
Price/Earnings Ratio (P/E) | 11.3 |
Price/Book Ratio (P/B) | 1.0 |
Portfolio Turnover Rate | 20% |
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1 | This list is not a recommendation of any security by the investment adviser. |
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Fund and Inception Date | 1 Year | 5 Years | Since Inception |
Fund: Schwab Fundamental Emerging Markets Large Company Index Fund (1/31/08) | 21.64% | -0.04% | -0.05% |
Russell RAFI Emerging Markets Large Company Index (Net)3,4 | 22.48% | 1.13% | N/A |
Fundamental Emerging Markets Large Company Spliced Index | 22.48% | 0.80% | 1.50% |
Fund Category: Morningstar Diversified Emerging Markets | 8.11% | 1.30% | -0.30% |
Fund Expense Ratios6: Net 0.49%; Gross 0.85% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | On October 19, 2009, the Investor Share class, Select Share class and Institutional Share class were combined into a single class of shares of the fund, and the fund no longer offers multiple classes of shares. The performance history of the fund prior to October 19, 2009 is that of the fund’s former Institutional Shares. |
3 | The inception date of the Russell RAFI Emerging Markets Large Company Index (Net) is February 24, 2011. The fund began tracking the index on October 19, 2012. |
4 | The net version of the index reflects reinvested dividends net of withholding taxes, but reflects no deductions for expenses or other taxes. |
5 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
6 | As stated in the prospectus. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
As a fund shareholder, you may incur two types of costs: (1) transaction costs, such as redemption fees; and (2) ongoing costs, including management fees, transfer agent and shareholder services fees, and other fund expenses.
Expense Ratio (Annualized)1 | Beginning Account Value at 5/1/16 | Ending Account Value (Net of Expenses) at 10/31/16 | Expenses Paid During Period 5/1/16-10/31/162 | |
Schwab Fundamental US Large Company Index Fund | ||||
Actual Return | 0.35% | $1,000.00 | $1,027.20 | $1.78 |
Hypothetical 5% Return | 0.35% | $1,000.00 | $1,023.34 | $1.78 |
Schwab Fundamental US Small Company Index Fund | ||||
Actual Return | 0.35% | $1,000.00 | $1,040.20 | $1.79 |
Hypothetical 5% Return | 0.35% | $1,000.00 | $1,023.34 | $1.78 |
Schwab Fundamental International Large Company Index Fund | ||||
Actual Return | 0.35% | $1,000.00 | $1,020.50 | $1.78 |
Hypothetical 5% Return | 0.35% | $1,000.00 | $1,023.34 | $1.78 |
Schwab Fundamental International Small Company Index Fund | ||||
Actual Return3 | 0.49% | $1,000.00 | $1,050.20 | $2.53 |
Hypothetical 5% Return3 | 0.49% | $1,000.00 | $1,022.64 | $2.49 |
Schwab Fundamental Emerging Markets Large Company Index Fund | ||||
Actual Return | 0.49% | $1,000.00 | $1,127.70 | $2.62 |
Hypothetical 5% Return | 0.49% | $1,000.00 | $1,022.64 | $2.49 |
1 | Based on the most recent six-month expense ratio; may differ from the expense ratio provided in the Financial Highlights which covers a 12- month period. This ratio does not include certain non-routine expenses, such as proxy expenses. |
2 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by the 366 days of the fiscal year. |
3 | The expenses incurred by the underlying funds in which the fund invests are not included in this ratio. |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $15.14 | $15.56 | $13.65 | $10.76 | $9.51 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.34 1 | 0.33 1 | 0.26 | 0.24 | 0.21 | |
Net realized and unrealized gains (losses) | 0.44 | (0.10) | 1.87 | 2.89 | 1.22 | |
Total from investment operations | 0.78 | 0.23 | 2.13 | 3.13 | 1.43 | |
Less distributions: | ||||||
Distributions from net investment income | (0.34) | (0.26) | (0.22) | (0.24) | (0.18) | |
Distributions from net realized gains | (0.46) | (0.39) | — | — | — | |
Total distributions | (0.80) | (0.65) | (0.22) | (0.24) | (0.18) | |
Net asset value at end of period | $15.12 | $15.14 | $15.56 | $13.65 | $10.76 | |
Total return | 5.61% | 1.44% | 15.74% | 29.67% | 15.29% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.35% | 0.35% | 0.35% | 0.35% | 0.32% 2 | |
Gross operating expenses | 0.39% | 0.39% | 0.39% | 0.41% | 0.44% | |
Net investment income (loss) | 2.33% | 2.16% | 1.95% | 2.03% | 2.13% | |
Portfolio turnover rate | 11% | 12% | 14% | 10% | 32% 3 | |
Net assets, end of period (x 1,000,000) | $4,569 | $4,886 | $4,465 | $3,020 | $1,960 | |
Holdings by Category | Cost ($) | Value ($) | |
99.4% | Common Stock | 3,690,338,853 | 4,539,101,489 |
0.6% | Other Investment Companies | 29,213,906 | 29,213,906 |
100.0% | Total Investments | 3,719,552,759 | 4,568,315,395 |
0.0% | Other Assets and Liabilities, Net | 622,072 | |
100.0% | Net Assets | 4,568,937,467 |
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 99.4% of net assets | ||||
Automobiles & Components 1.2% | ||||
Other Securities | 1.2 | 55,538,393 | ||
Banks 5.0% | ||||
Bank of America Corp. | 1,906,694 | 0.7 | 31,460,451 | |
Citigroup, Inc. | 716,472 | 0.8 | 35,214,599 | |
JPMorgan Chase & Co. | 853,423 | 1.3 | 59,108,077 | |
Wells Fargo & Co. | 915,163 | 0.9 | 42,106,650 | |
Other Securities | 1.3 | 60,901,552 | ||
5.0 | 228,791,329 | |||
Capital Goods 8.2% | ||||
3M Co. | 123,161 | 0.4 | 20,358,513 | |
General Electric Co. | 1,864,598 | 1.2 | 54,259,802 | |
United Technologies Corp. | 248,092 | 0.6 | 25,355,002 | |
Other Securities | 6.0 | 274,173,045 | ||
8.2 | 374,146,362 | |||
Commercial & Professional Supplies 0.6% | ||||
Other Securities | 0.6 | 27,124,487 | ||
Consumer Durables & Apparel 1.1% | ||||
Other Securities | 1.1 | 50,960,060 | ||
Consumer Services 1.7% | ||||
McDonald's Corp. | 231,388 | 0.6 | 26,047,347 | |
Other Securities | 1.1 | 49,892,091 | ||
1.7 | 75,939,438 | |||
Diversified Financials 4.2% | ||||
Berkshire Hathaway, Inc., Class B * | 302,226 | 1.0 | 43,611,212 | |
The Charles Schwab Corp. (b) | 72,715 | 0.1 | 2,305,066 |
Security | Number of Shares | % of Net Assets | Value ($) | |
The Goldman Sachs Group, Inc. | 149,309 | 0.6 | 26,612,836 | |
Other Securities | 2.5 | 116,946,812 | ||
4.2 | 189,475,926 | |||
Energy 14.8% | ||||
Chevron Corp. | 1,208,112 | 2.8 | 126,549,732 | |
ConocoPhillips | 1,056,282 | 1.0 | 45,895,453 | |
Exxon Mobil Corp. | 2,298,181 | 4.2 | 191,484,441 | |
Occidental Petroleum Corp. | 286,500 | 0.5 | 20,888,715 | |
Phillips 66 | 347,008 | 0.6 | 28,159,699 | |
Schlumberger Ltd. | 341,110 | 0.6 | 26,685,035 | |
Valero Energy Corp. | 389,366 | 0.5 | 23,066,042 | |
Other Securities | 4.6 | 213,286,373 | ||
14.8 | 676,015,490 | |||
Food & Staples Retailing 3.8% | ||||
Costco Wholesale Corp. | 132,063 | 0.4 | 19,528,156 | |
CVS Health Corp. | 435,016 | 0.8 | 36,584,845 | |
Wal-Mart Stores, Inc. | 990,172 | 1.5 | 69,331,843 | |
Walgreens Boots Alliance, Inc. | 235,582 | 0.4 | 19,489,699 | |
Other Securities | 0.7 | 29,417,944 | ||
3.8 | 174,352,487 | |||
Food, Beverage & Tobacco 5.0% | ||||
Altria Group, Inc. | 294,616 | 0.4 | 19,480,010 | |
Archer-Daniels-Midland Co. | 448,874 | 0.4 | 19,557,440 | |
PepsiCo, Inc. | 317,163 | 0.7 | 33,999,874 | |
Philip Morris International, Inc. | 393,288 | 0.8 | 37,928,695 | |
The Coca-Cola Co. | 749,343 | 0.7 | 31,772,143 | |
Other Securities | 2.0 | 85,714,706 | ||
5.0 | 228,452,868 | |||
Health Care Equipment & Services 5.2% | ||||
Anthem, Inc. | 179,250 | 0.5 | 21,843,405 | |
UnitedHealth Group, Inc. | 266,496 | 0.8 | 37,663,880 | |
Other Securities | 3.9 | 177,373,967 | ||
5.2 | 236,881,252 | |||
Household & Personal Products 2.1% | ||||
The Procter & Gamble Co. | 722,535 | 1.4 | 62,716,038 | |
Other Securities | 0.7 | 32,582,249 | ||
2.1 | 95,298,287 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Insurance 3.5% | ||||
American International Group, Inc. | 459,142 | 0.6 | 28,329,061 | |
Other Securities | 2.9 | 132,938,510 | ||
3.5 | 161,267,571 | |||
Materials 3.8% | ||||
Other Securities | 3.8 | 175,345,564 | ||
Media 3.1% | ||||
Comcast Corp., Class A | 437,457 | 0.6 | 27,043,592 | |
The Walt Disney Co. | 281,962 | 0.6 | 26,135,058 | |
Time Warner, Inc. | 351,933 | 0.7 | 31,318,518 | |
Other Securities | 1.2 | 57,909,152 | ||
3.1 | 142,406,320 | |||
Pharmaceuticals, Biotechnology & Life Sciences 5.2% | ||||
Johnson & Johnson | 471,707 | 1.2 | 54,713,295 | |
Merck & Co., Inc. | 663,562 | 0.9 | 38,964,361 | |
Pfizer, Inc. | 1,733,504 | 1.2 | 54,969,412 | |
Other Securities | 1.9 | 89,090,699 | ||
5.2 | 237,737,767 | |||
Real Estate 1.2% | ||||
Other Securities | 1.2 | 52,153,008 | ||
Retailing 4.6% | ||||
Lowe's Cos., Inc. | 299,345 | 0.4 | 19,951,344 | |
Target Corp. | 305,383 | 0.5 | 20,988,974 | |
The Home Depot, Inc. | 262,743 | 0.7 | 32,057,273 | |
Other Securities | 3.0 | 137,650,855 | ||
4.6 | 210,648,446 | |||
Semiconductors & Semiconductor Equipment 2.9% | ||||
Intel Corp. | 1,651,276 | 1.3 | 57,579,994 | |
QUALCOMM, Inc. | 311,755 | 0.5 | 21,423,804 | |
Other Securities | 1.1 | 54,970,918 | ||
2.9 | 133,974,716 | |||
Software & Services 7.2% | ||||
International Business Machines Corp. | 439,901 | 1.5 | 67,608,385 | |
Microsoft Corp. | 1,400,628 | 1.8 | 83,925,630 | |
Oracle Corp. | 737,644 | 0.6 | 28,340,282 | |
Other Securities | 3.3 | 150,427,344 | ||
7.2 | 330,301,641 | |||
Technology Hardware & Equipment 5.3% | ||||
Apple, Inc. | 868,757 | 2.2 | 98,638,670 | |
Cisco Systems, Inc. | 1,198,451 | 0.8 | 36,768,477 | |
HP, Inc. | 2,087,791 | 0.7 | 30,252,092 | |
Other Securities | 1.6 | 76,218,443 | ||
5.3 | 241,877,682 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Telecommunication Services 3.6% | ||||
AT&T, Inc. | 2,461,954 | 2.0 | 90,575,287 | |
Verizon Communications, Inc. | 1,110,949 | 1.2 | 53,436,647 | |
Other Securities | 0.4 | 18,375,874 | ||
3.6 | 162,387,808 | |||
Transportation 1.9% | ||||
Other Securities | 1.9 | 88,458,370 | ||
Utilities 4.2% | ||||
Other Securities | 4.2 | 189,566,217 | ||
Total Common Stock | ||||
(Cost $3,690,338,853) | 4,539,101,489 | |||
Other Investment Companies 0.6% of net assets | ||||
Money Market Fund 0.4% | ||||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.25% (c) | 19,932,431 | 0.4 | 19,932,431 | |
Securities Lending Collateral 0.2% | ||||
Other Securities | 0.2 | 9,281,475 | ||
Total Other Investment Companies | ||||
(Cost $29,213,906) | 29,213,906 |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $8,591,040. |
(b) | Issuer is affiliated with the fund's investment adviser. |
(c) | The rate shown is the 7-day yield. |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
S&P 500 Index, e-mini, Long, expires 12/16/16 | 240 | 25,441,200 | (254,824) |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Common Stock1 | $4,539,101,489 | $— | $— | $4,539,101,489 | |
Other Investment Companies1 | 29,213,906 | — | — | 29,213,906 | |
Total | $4,568,315,395 | $— | $— | $4,568,315,395 | |
Liabilities Valuation Input | |||||
Other Financial Instruments | |||||
Futures Contracts2 | ($254,824) | $— | $— | ($254,824) |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of Condensed Portfolio Holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investment in affiliated issuer, at value (cost $1,270,946) | $2,305,066 | |
Investments in unaffiliated issuers, at value (cost $3,709,000,338) including securities on loan of $8,591,040 | 4,556,728,854 | |
Collateral invested for securities on loan, at value (cost $9,281,475) | + | 9,281,475 |
Total investments, at value (cost $3,719,552,759) | 4,568,315,395 | |
Deposit with broker for futures contracts | 1,080,000 | |
Receivables: | ||
Fund shares sold | 9,074,973 | |
Dividends | 6,493,192 | |
Income from securities on loan | 79,043 | |
Prepaid expenses | + | 58,046 |
Total assets | 4,585,100,649 | |
Liabilities | ||
Collateral held for securities on loan | 9,281,475 | |
Payables: | ||
Investments bought | 1,277,695 | |
Investment adviser and administrator fees | 895,600 | |
Shareholder service fees | 176,969 | |
Fund shares redeemed | 3,244,333 | |
Variation margin on futures contracts | 44,400 | |
Accrued expenses | + | 1,242,710 |
Total liabilities | 16,163,182 | |
Net Assets | ||
Total assets | 4,585,100,649 | |
Total liabilities | – | 16,163,182 |
Net assets | $4,568,937,467 | |
Net Assets by Source | ||
Capital received from investors | 3,410,815,831 | |
Net investment income not yet distributed | 87,137,069 | |
Net realized capital gains | 222,476,755 | |
Net unrealized capital appreciation | 848,507,812 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$4,568,937,467 | 302,263,284 | $15.12 | ||
Investment Income | ||
Dividends received from affiliated issuer | $19,416 | |
Dividends received from unaffiliated issuers (net of foreign withholding taxes of $23,705) | 124,093,783 | |
Securities on loan | + | 1,152,060 |
Total investment income | 125,265,259 | |
Expenses | ||
Investment adviser and administrator fees | 10,679,584 | |
Shareholder service fees | 3,240,775 | |
Index fees | 2,861,901 | |
Transfer agent fees | 804,734 | |
Shareholder reports | 278,528 | |
Portfolio accounting fees | 103,333 | |
Proxy fees | 96,867 | |
Custodian fees | 74,184 | |
Professional fees | 64,516 | |
Registration fees | 53,927 | |
Independent trustees' fees | 35,903 | |
Interest expense | 3,131 | |
Other expenses | + | 103,415 |
Total expenses | 18,400,798 | |
Expense reduction by CSIM and its affiliates | – | 1,946,916 |
Net expenses | – | 16,453,882 |
Net investment income | 108,811,377 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on affiliated issuer | 84,291 | |
Net realized gains on unaffiliated issuers | 234,459,231 | |
Net realized gains on futures contracts | + | 2,925,995 |
Net realized gains | 237,469,517 | |
Net change in unrealized appreciation (depreciation) on affiliated issuer | (43,311) | |
Net change in unrealized appreciation (depreciation) on unaffiliated issuers | (95,950,250) | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (516,934) |
Net change in unrealized appreciation (depreciation) | + | (96,510,495) |
Net realized and unrealized gains | 140,959,022 | |
Increase in net assets resulting from operations | $249,770,399 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $108,811,377 | $105,432,655 | ||
Net realized gains | 237,469,517 | 147,141,065 | ||
Net change in unrealized appreciation (depreciation) | + | (96,510,495) | (189,185,954) | |
Increase in net assets from operations | 249,770,399 | 63,387,766 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (108,957,758) | (76,925,735) | ||
Distributions from net realized gains | + | (146,034,638) | (114,155,826) | |
Total distributions | ($254,992,396) | ($191,081,561) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 60,574,518 | $881,245,699 | 98,386,452 | $1,496,556,101 | ||||
Shares reinvested | 11,581,875 | 160,408,965 | 7,976,908 | 122,684,844 | ||||
Shares redeemed | + | (92,533,795) | (1,353,159,351) | (70,618,440) | (1,070,631,347) | |||
Net transactions in fund shares | (20,377,402) | ($311,504,687) | 35,744,920 | $548,609,598 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 322,640,686 | $4,885,664,151 | 286,895,766 | $4,464,748,348 | ||||
Total increase or decrease | + | (20,377,402) | (316,726,684) | 35,744,920 | 420,915,803 | |||
End of period | 302,263,284 | $4,568,937,467 | 322,640,686 | $4,885,664,151 | ||||
Net investment income not yet distributed | $87,137,069 | $87,683,099 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $12.82 | $13.51 | $12.78 | $10.31 | $10.11 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.18 1 | 0.18 1 | 0.14 | 0.16 | 0.15 | |
Net realized and unrealized gains (losses) | 0.43 | (0.03) | 1.23 | 3.35 | 0.88 | |
Total from investment operations | 0.61 | 0.15 | 1.37 | 3.51 | 1.03 | |
Less distributions: | ||||||
Distributions from net investment income | (0.18) | (0.16) | (0.12) | (0.20) | (0.12) | |
Distributions from net realized gains | (0.56) | (0.68) | (0.52) | (0.84) | (0.71) | |
Total distributions | (0.74) | (0.84) | (0.64) | (1.04) | (0.83) | |
Net asset value at end of period | $12.69 | $12.82 | $13.51 | $12.78 | $10.31 | |
Total return | 5.37% | 1.01% | 10.99% | 37.55% | 11.37% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.35% | 0.35% | 0.35% | 0.35% | 0.32% 2 | |
Gross operating expenses | 0.43% | 0.43% | 0.44% | 0.48% | 0.50% | |
Net investment income (loss) | 1.50% | 1.37% | 1.14% | 1.41% | 1.46% | |
Portfolio turnover rate | 30% | 31% | 29% | 27% | 92% 3 | |
Net assets, end of period (x 1,000,000) | $1,361 | $1,416 | $1,208 | $849 | $619 | |
Holdings by Category | Cost ($) | Value ($) | |
99.1% | Common Stock | 1,117,444,910 | 1,348,732,855 |
0.0% | Rights | 266,857 | 317,100 |
2.8% | Other Investment Companies | 38,237,722 | 38,237,722 |
101.9% | Total Investments | 1,155,949,489 | 1,387,287,677 |
(1.9%) | Other Assets and Liabilities, Net | (26,470,824) | |
100.0% | Net Assets | 1,360,816,853 |
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 99.1% of net assets | ||||
Automobiles & Components 1.2% | ||||
Other Securities | 1.2 | 15,575,496 | ||
Banks 5.5% | ||||
Popular, Inc. | 106,200 | 0.3 | 3,855,060 | |
Zions Bancorp | 97,600 | 0.2 | 3,143,696 | |
Other Securities | 5.0 | 68,072,218 | ||
5.5 | 75,070,974 | |||
Capital Goods 12.6% | ||||
Applied Industrial Technologies, Inc. | 61,820 | 0.2 | 3,140,456 | |
Donaldson Co., Inc. | 97,800 | 0.3 | 3,571,656 | |
Harsco Corp. | 333,800 | 0.2 | 3,254,550 | |
Kennametal, Inc. | 141,100 | 0.3 | 3,994,541 | |
MRC Global, Inc. * | 222,200 | 0.2 | 3,275,228 | |
MSC Industrial Direct Co., Inc., Class A | 43,700 | 0.2 | 3,181,360 | |
Regal Beloit Corp. | 55,900 | 0.2 | 3,303,690 | |
Spirit AeroSystems Holdings, Inc., Class A * | 66,100 | 0.2 | 3,328,796 | |
SPX Corp. * | 231,400 | 0.3 | 4,398,914 | |
Other Securities | 10.5 | 140,141,990 | ||
12.6 | 171,591,181 | |||
Commercial & Professional Supplies 4.9% | ||||
ABM Industries, Inc. | 92,100 | 0.3 | 3,599,268 | |
Copart, Inc. * | 69,800 | 0.3 | 3,662,406 | |
Quad Graphics, Inc. | 142,900 | 0.2 | 3,395,304 | |
Other Securities | 4.1 | 55,331,068 | ||
4.9 | 65,988,046 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Consumer Durables & Apparel 2.5% | ||||
Other Securities | 2.5 | 34,255,449 | ||
Consumer Services 4.5% | ||||
Graham Holdings Co., Class B | 7,400 | 0.3 | 3,515,000 | |
Other Securities | 4.2 | 57,358,214 | ||
4.5 | 60,873,214 | |||
Diversified Financials 4.9% | ||||
Raymond James Financial, Inc. | 53,400 | 0.2 | 3,210,408 | |
Other Securities | 4.7 | 63,989,785 | ||
4.9 | 67,200,193 | |||
Energy 4.4% | ||||
WPX Energy, Inc. * | 379,400 | 0.3 | 4,120,284 | |
Other Securities | 4.1 | 55,783,607 | ||
4.4 | 59,903,891 | |||
Food & Staples Retailing 0.9% | ||||
Other Securities | 0.9 | 12,796,954 | ||
Food, Beverage & Tobacco 2.4% | ||||
Fresh Del Monte Produce, Inc. | 53,300 | 0.2 | 3,216,655 | |
Other Securities | 2.2 | 29,801,991 | ||
2.4 | 33,018,646 | |||
Health Care Equipment & Services 3.4% | ||||
Other Securities | 3.4 | 46,827,874 | ||
Household & Personal Products 0.6% | ||||
Edgewell Personal Care Co. * | 50,700 | 0.3 | 3,822,780 | |
Other Securities | 0.3 | 4,565,791 | ||
0.6 | 8,388,571 | |||
Insurance 4.1% | ||||
Allied World Assurance Co. Holdings AG | 85,700 | 0.3 | 3,683,386 | |
Aspen Insurance Holdings Ltd. | 69,500 | 0.2 | 3,353,375 | |
Endurance Specialty Holdings Ltd. | 44,996 | 0.3 | 4,137,382 | |
Primerica, Inc. | 60,000 | 0.2 | 3,282,000 | |
Validus Holdings Ltd. | 79,200 | 0.3 | 4,047,120 | |
Other Securities | 2.8 | 37,157,409 | ||
4.1 | 55,660,672 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Materials 7.3% | ||||
Chemtura Corp. * | 98,300 | 0.2 | 3,224,240 | |
Cliffs Natural Resources, Inc. * | 1,850,200 | 0.8 | 10,213,104 | |
Crown Holdings, Inc. * | 65,200 | 0.3 | 3,537,100 | |
Greif, Inc., Class A | 70,000 | 0.2 | 3,280,200 | |
Martin Marietta Materials, Inc. | 18,800 | 0.3 | 3,485,144 | |
Schnitzer Steel Industries, Inc., Class A | 146,810 | 0.3 | 3,545,461 | |
Southern Copper Corp. | 135,500 | 0.3 | 3,846,845 | |
Other Securities | 4.9 | 68,270,240 | ||
7.3 | 99,402,334 | |||
Media 2.0% | ||||
Cinemark Holdings, Inc. | 86,700 | 0.3 | 3,450,660 | |
Other Securities | 1.7 | 23,530,740 | ||
2.0 | 26,981,400 | |||
Pharmaceuticals, Biotechnology & Life Sciences 2.3% | ||||
Quintiles IMS Holdings, Inc. * | 55,226 | 0.3 | 3,961,913 | |
Other Securities | 2.0 | 26,967,595 | ||
2.3 | 30,929,508 | |||
Real Estate 9.6% | ||||
Equinix, Inc. | 9,486 | 0.2 | 3,389,158 | |
Liberty Property Trust | 86,300 | 0.3 | 3,489,109 | |
Rayonier, Inc. | 125,300 | 0.2 | 3,360,546 | |
Senior Housing Properties Trust | 152,000 | 0.2 | 3,233,040 | |
Other Securities | 8.7 | 117,293,775 | ||
9.6 | 130,765,628 | |||
Retailing 5.2% | ||||
Aaron's, Inc. | 133,100 | 0.2 | 3,288,901 | |
Ulta Salon, Cosmetics & Fragrance, Inc. * | 13,000 | 0.2 | 3,163,420 | |
Other Securities | 4.8 | 63,792,676 | ||
5.2 | 70,244,997 | |||
Semiconductors & Semiconductor Equipment 2.8% | ||||
Advanced Micro Devices, Inc. * | 668,000 | 0.4 | 4,829,640 | |
ON Semiconductor Corp. * | 285,200 | 0.2 | 3,328,284 | |
Other Securities | 2.2 | 30,179,281 | ||
2.8 | 38,337,205 | |||
Software & Services 6.2% | ||||
CoreLogic, Inc. * | 84,000 | 0.3 | 3,575,040 | |
Science Applications International Corp. | 52,700 | 0.3 | 3,631,557 | |
Other Securities | 5.6 | 76,799,365 | ||
6.2 | 84,005,962 | |||
Technology Hardware & Equipment 4.3% | ||||
Insight Enterprises, Inc. * | 110,900 | 0.2 | 3,192,811 | |
Other Securities | 4.1 | 55,156,902 | ||
4.3 | 58,349,713 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Telecommunication Services 1.0% | ||||
Windstream Holdings, Inc. (a) | 424,100 | 0.2 | 3,329,185 | |
Other Securities | 0.8 | 10,056,276 | ||
1.0 | 13,385,461 | |||
Transportation 3.1% | ||||
Copa Holdings S.A., Class A | 43,100 | 0.3 | 3,975,113 | |
SkyWest, Inc. | 123,800 | 0.3 | 3,732,570 | |
Other Securities | 2.5 | 35,015,670 | ||
3.1 | 42,723,353 | |||
Utilities 3.4% | ||||
Portland General Electric Co. | 75,600 | 0.2 | 3,299,184 | |
Other Securities | 3.2 | 43,156,949 | ||
3.4 | 46,456,133 | |||
Total Common Stock | ||||
(Cost $1,117,444,910) | 1,348,732,855 | |||
Rights 0.0% of net assets | ||||
Technology Hardware & Equipment 0.0% | ||||
Other Securities | 0.0 | — | ||
Telecommunication Services 0.0% | ||||
Other Securities | 0.0 | 317,100 | ||
Total Rights | ||||
(Cost $266,857) | 317,100 | |||
Other Investment Companies 2.8% of net assets | ||||
Money Market Fund 0.8% | ||||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.25% (c) | 10,788,722 | 0.8 | 10,788,722 | |
Securities Lending Collateral 2.0% | ||||
Wells Fargo Government Money Market Fund, Select Class 0.32%(c) | 27,449,000 | 2.0 | 27,449,000 | |
Total Other Investment Companies | ||||
(Cost $38,237,722) | 38,237,722 |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $26,051,203. |
(b) | Illiquid security. At the period end, the value of these amounted to $317,100 or 0.0% of net assets. |
(c) | The rate shown is the 7-day yield. |
(d) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
CVR — | Contingent Value Rights |
REIT — | Real Estate Investment Trust |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
Russell 2000 Index, mini, Long, expires 12/16/16 | 92 | 10,941,560 | (449,989) |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Common Stock1 | $1,348,732,855 | $— | $— * | $1,348,732,855 | |
Rights 1 | — | — | 317,100 * | 317,100 | |
Other Investment Companies | 38,237,722 | — | — | 38,237,722 | |
Total | $1,386,970,577 | $— | $317,100 | $1,387,287,677 | |
Liabilities Valuation Input | |||||
Other Financial Instruments | |||||
Futures Contracts2 | ($449,989) | $— | $— | ($449,989) |
* | Level 3 amount shown includes securities determined to have no value at October 31, 2016. |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of Condensed Portfolio Holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments, at value (cost $1,128,500,489) including securities on loan of $26,051,203 | $1,359,838,677 | |
Collateral invested for securities on loan, at value (cost $27,449,000) | + | 27,449,000 |
Total investments, at value (cost $1,155,949,489) | 1,387,287,677 | |
Foreign currency, at value (cost $34) | 25 | |
Cash | 446 | |
Deposit with broker for futures contracts | 483,800 | |
Receivables: | ||
Fund shares sold | 1,132,860 | |
Dividends | 728,520 | |
Income from securities on loan | 104,598 | |
Variation margin on futures contracts | 27,799 | |
Prepaid expenses | + | 21,169 |
Total assets | 1,389,786,894 | |
Liabilities | ||
Collateral held for securities on loan | 27,449,000 | |
Payables: | ||
Investment adviser and administrator fees | 291,387 | |
Shareholder service fees | 47,185 | |
Fund shares redeemed | 779,114 | |
Accrued expenses | + | 403,355 |
Total liabilities | 28,970,041 | |
Net Assets | ||
Total assets | 1,389,786,894 | |
Total liabilities | – | 28,970,041 |
Net assets | $1,360,816,853 | |
Net Assets by Source | ||
Capital received from investors | 1,109,818,885 | |
Net investment income not yet distributed | 13,738,912 | |
Net realized capital gains | 6,370,866 | |
Net unrealized capital appreciation | 230,888,190 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$1,360,816,853 | 107,203,175 | $12.69 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $3,007) | $22,602,155 | |
Securities on loan | + | 2,531,960 |
Total investment income | 25,134,115 | |
Expenses | ||
Investment adviser and administrator fees | 3,387,052 | |
Shareholder service fees | 1,251,981 | |
Index fees | 831,622 | |
Shareholder reports | 80,348 | |
Portfolio accounting fees | 67,197 | |
Transfer agent fees | 48,610 | |
Custodian fees | 46,271 | |
Professional fees | 46,194 | |
Registration fees | 30,900 | |
Proxy fees | 24,937 | |
Independent trustees' fees | 16,068 | |
Interest expense | 727 | |
Other expenses | + | 22,726 |
Total expenses | 5,854,633 | |
Expense reduction by CSIM and its affiliates | – | 1,076,840 |
Net expenses | – | 4,777,793 |
Net investment income | 20,356,322 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 11,893,863 | |
Net realized losses on futures contracts | + | (1,032) |
Net realized gains | 11,892,831 | |
Net change in unrealized appreciation (depreciation) on investments | 38,701,203 | |
Net change in unrealized appreciation (depreciation) on futures contracts | + | (657,825) |
Net change in unrealized appreciation (depreciation) | + | 38,043,378 |
Net realized and unrealized gains | 49,936,209 | |
Increase in net assets resulting from operations | $70,292,531 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $20,356,322 | $19,445,379 | ||
Net realized gains | 11,892,831 | 60,741,342 | ||
Net change in unrealized appreciation (depreciation) | + | 38,043,378 | (72,464,259) | |
Increase in net assets from operations | 70,292,531 | 7,722,462 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (20,210,722) | (14,333,166) | ||
Distributions from net realized gains | + | (61,589,342) | (60,933,871) | |
Total distributions | ($81,800,064) | ($75,267,037) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 27,387,772 | $327,990,889 | 39,068,787 | $512,965,419 | ||||
Shares reinvested | 4,713,120 | 54,342,269 | 3,422,676 | 44,597,473 | ||||
Shares redeemed | + | (35,294,191) | (425,576,331) | (21,506,579) | (281,966,672) | |||
Net transactions in fund shares | (3,193,299) | ($43,243,173) | 20,984,884 | $275,596,220 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 110,396,474 | $1,415,567,559 | 89,411,590 | $1,207,515,914 | ||||
Total increase or decrease | + | (3,193,299) | (54,750,706) | 20,984,884 | 208,051,645 | |||
End of period | 107,203,175 | $1,360,816,853 | 110,396,474 | $1,415,567,559 | ||||
Net investment income not yet distributed | $13,738,912 | $14,165,949 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $8.19 | $8.84 | $9.05 | $7.16 | $7.26 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.24 1 | 0.25 1 | 0.30 | 0.23 | 0.22 | |
Net realized and unrealized gains (losses) | (0.25) | (0.60) | (0.26) | 1.87 | (0.08) 2 | |
Total from investment operations | (0.01) | (0.35) | 0.04 | 2.10 | 0.14 | |
Less distributions: | ||||||
Distributions from net investment income | (0.22) | (0.30) | (0.25) | (0.21) | (0.24) | |
Net asset value at end of period | $7.96 | $8.19 | $8.84 | $9.05 | $7.16 | |
Total return | 0.07% | (4.07%) | 0.39% | 30.12% | 2.24% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.35% | 0.35% | 0.35% | 0.34% 3 | 0.31% 3 | |
Gross operating expenses | 0.46% | 0.46% | 0.48% | 0.52% | 0.56% | |
Net investment income (loss) | 3.20% | 2.96% | 3.52% | 2.95% | 3.58% | |
Portfolio turnover rate | 18% | 11% | 8% | 22% | 61% 4 | |
Net assets, end of period (x 1,000,000) | $971 | $1,173 | $908 | $646 | $501 | |
Holdings by Category | Cost ($) | Value ($) | |
98.4% | Common Stock | 1,038,626,509 | 956,039,183 |
0.7% | Preferred Stock | 8,293,244 | 6,972,658 |
0.0% | Rights | 14,095 | 39,639 |
0.7% | Other Investment Company | 6,974,447 | 6,974,447 |
0.5% | Short-Term Investments | 4,242,264 | 4,242,264 |
100.3% | Total Investments | 1,058,150,559 | 974,268,191 |
(0.3%) | Other Assets and Liabilities, Net | (2,860,707) | |
100.0% | Net Assets | 971,407,484 |
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 98.4% of net assets | ||||
Australia 6.4% | ||||
Australia & New Zealand Banking Group Ltd. | 214,967 | 0.5 | 4,539,116 | |
BHP Billiton Ltd. | 492,253 | 0.9 | 8,600,068 | |
Commonwealth Bank of Australia | 91,947 | 0.5 | 5,118,771 | |
National Australia Bank Ltd. | 196,839 | 0.4 | 4,178,386 | |
Wesfarmers Ltd. | 145,006 | 0.5 | 4,515,332 | |
Westpac Banking Corp. | 215,944 | 0.5 | 4,993,691 | |
Other Securities | 3.1 | 30,064,304 | ||
6.4 | 62,009,668 | |||
Austria 0.4% | ||||
Other Securities | 0.4 | 3,436,071 | ||
Belgium 0.7% | ||||
Other Securities | 0.7 | 7,168,730 | ||
Canada 7.5% | ||||
Royal Bank of Canada | 72,444 | 0.5 | 4,526,062 | |
Suncor Energy, Inc. | 183,537 | 0.6 | 5,507,615 | |
Other Securities | 6.4 | 62,780,615 | ||
7.5 | 72,814,292 | |||
Denmark 0.8% | ||||
Other Securities | 0.8 | 7,505,097 | ||
Finland 0.9% | ||||
Other Securities | 0.9 | 8,929,065 | ||
Security | Number of Shares | % of Net Assets | Value ($) | |
France 9.8% | ||||
BNP Paribas S.A. | 93,858 | 0.6 | 5,442,192 | |
Engie S.A. | 370,184 | 0.5 | 5,338,689 | |
Orange S.A. | 313,762 | 0.5 | 4,936,623 | |
Sanofi | 84,093 | 0.7 | 6,544,014 | |
TOTAL S.A. | 369,236 | 1.8 | 17,688,214 | |
Other Securities | 5.7 | 55,575,378 | ||
9.8 | 95,525,110 | |||
Germany 8.5% | ||||
Allianz SE - Reg'd | 31,875 | 0.5 | 4,975,822 | |
BASF SE | 100,227 | 0.9 | 8,847,835 | |
Bayer AG - Reg'd | 44,688 | 0.5 | 4,437,055 | |
Daimler AG - Reg'd | 94,321 | 0.7 | 6,729,046 | |
Deutsche Telekom AG - Reg'd | 339,708 | 0.6 | 5,542,410 | |
E.ON SE | 741,406 | 0.6 | 5,433,657 | |
Siemens AG - Reg'd | 57,742 | 0.7 | 6,560,493 | |
Other Securities | 4.0 | 39,967,377 | ||
8.5 | 82,493,695 | |||
Hong Kong 1.4% | ||||
Other Securities | 1.4 | 13,087,816 | ||
Ireland 0.6% | ||||
Other Securities | 0.6 | 6,041,539 | ||
Israel 0.4% | ||||
Other Securities | 0.4 | 3,760,062 | ||
Italy 3.0% | ||||
Enel S.p.A. | 1,313,124 | 0.6 | 5,645,563 | |
Eni S.p.A. | 608,052 | 0.9 | 8,824,207 | |
Other Securities | 1.5 | 15,051,868 | ||
3.0 | 29,521,638 | |||
Japan 22.2% | ||||
Hitachi Ltd. | 846,000 | 0.5 | 4,509,935 | |
Honda Motor Co., Ltd. | 187,500 | 0.6 | 5,610,301 | |
Mitsubishi UFJ Financial Group, Inc. | 837,534 | 0.4 | 4,321,515 | |
Nippon Telegraph & Telephone Corp. | 98,808 | 0.5 | 4,380,833 | |
Toyota Motor Corp. | 181,318 | 1.1 | 10,517,661 | |
Other Securities | 19.1 | 186,303,445 | ||
22.2 | 215,643,690 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Luxembourg 0.6% | ||||
Other Securities | 0.6 | 5,415,175 | ||
Netherlands 5.5% | ||||
Koninklijke Ahold Delhaize N.V. * | 182,238 | 0.4 | 4,157,286 | |
Royal Dutch Shell plc, A Shares | 607,928 | 1.6 | 15,147,966 | |
Royal Dutch Shell plc, B Shares | 623,383 | 1.7 | 16,078,607 | |
Other Securities | 1.8 | 17,697,743 | ||
5.5 | 53,081,602 | |||
New Zealand 0.1% | ||||
Other Securities | 0.1 | 1,156,197 | ||
Norway 0.9% | ||||
Statoil A.S.A. | 268,321 | 0.5 | 4,380,610 | |
Other Securities | 0.4 | 4,630,197 | ||
0.9 | 9,010,807 | |||
Portugal 0.2% | ||||
Other Securities | 0.2 | 2,132,492 | ||
Singapore 0.8% | ||||
Other Securities | 0.8 | 7,653,948 | ||
Spain 4.2% | ||||
Banco Santander S.A. | 2,533,618 | 1.3 | 12,414,793 | |
Repsol S.A. | 306,041 | 0.4 | 4,273,094 | |
Telefonica S.A. | 803,502 | 0.8 | 8,164,065 | |
Other Securities | 1.7 | 15,817,340 | ||
4.2 | 40,669,292 | |||
Sweden 2.1% | ||||
Other Securities | 2.1 | 20,794,814 | ||
Switzerland 6.1% | ||||
Glencore plc * | 2,849,926 | 0.9 | 8,723,925 | |
Nestle S.A. - Reg'd | 140,489 | 1.0 | 10,187,401 | |
Novartis AG - Reg'd | 104,443 | 0.8 | 7,412,067 | |
Roche Holding AG | 25,871 | 0.6 | 5,942,091 | |
Other Securities | 2.8 | 27,296,612 | ||
6.1 | 59,562,096 | |||
United Kingdom 15.3% | ||||
Anglo American plc * | 373,675 | 0.5 | 5,186,312 | |
AstraZeneca plc | 97,506 | 0.6 | 5,459,857 | |
BHP Billiton plc | 332,319 | 0.5 | 4,997,102 | |
BP plc | 4,016,732 | 2.4 | 23,745,732 | |
British American Tobacco plc | 88,756 | 0.5 | 5,086,867 | |
GlaxoSmithKline plc | 311,449 | 0.6 | 6,152,465 | |
HSBC Holdings plc | 1,580,761 | 1.2 | 11,904,927 | |
Rio Tinto plc | 154,398 | 0.6 | 5,369,238 | |
Tesco plc * | 1,748,899 | 0.5 | 4,504,613 |
Security | Number of Shares | % of Net Assets | Value ($) | |
Vodafone Group plc | 2,883,427 | 0.8 | 7,918,827 | |
Other Securities | 7.1 | 68,300,347 | ||
15.3 | 148,626,287 | |||
Total Common Stock | ||||
(Cost $1,038,626,509) | 956,039,183 | |||
Preferred Stock 0.7% of net assets | ||||
Germany 0.6% | ||||
Volkswagen AG | 29,270 | 0.4 | 4,035,616 | |
Other Securities | 0.2 | 1,803,078 | ||
0.6 | 5,838,694 | |||
Italy 0.1% | ||||
Other Securities | 0.1 | 1,043,545 | ||
Spain 0.0% | ||||
Other Securities | 0.0 | 90,419 | ||
Total Preferred Stock | ||||
(Cost $8,293,244) | 6,972,658 | |||
Rights 0.0% of net assets | ||||
Italy 0.0% | ||||
Other Securities | 0.0 | — | ||
Spain 0.0% | ||||
Capital Goods 0.0% | ||||
Other Securities | 0.0 | 13,492 | ||
Sweden 0.0% | ||||
Other Securities | 0.0 | 26,147 | ||
Total Rights | ||||
(Cost $14,095) | 39,639 | |||
Other Investment Company 0.7% of net assets | ||||
United States 0.7% | ||||
Securities Lending Collateral 0.7% | ||||
Wells Fargo Government Money Market Fund, Select Class 0.32%(c) | 6,974,447 | 0.7 | 6,974,447 | |
Total Other Investment Company | ||||
(Cost $6,974,447) | 6,974,447 |
Security Rate, Maturity Date | Face Amount ($) | % of Net Assets | Value ($) | |
Short-Term Investments 0.5% of net assets | ||||
Time Deposit 0.5% | ||||
Other Securities | 0.5 | 4,242,264 | ||
Total Short-Term Investments | ||||
(Cost $4,242,264) | 4,242,264 |
* | Non-income producing security. |
(a) | Illiquid security. At the period end, the value of these amounted to $101,213 or 0.0% of net assets. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $6,449,085. |
(c) | The rate shown is the 7-day yield. |
(d) | Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $135,670 or 0.0% of net assets. |
(e) | The rate shown is the current daily overnight rate. |
(f) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
ADR — | American Depositary Receipt |
CDI — | CHESS Depositary Interest |
CVA — | Dutch Certificate |
Reg'd — | Registered |
REIT — | Real Estate Investment Trust |
RSP — | Risparmio (Convertible Savings Shares) |
SDR — | Swedish Depositary Receipt |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
MSCI EAFE, e-mini, Long, expires 12/16/16 | 85 | 7,079,225 | (159,730) |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Common Stock1 | $— | $418,944,634 | $— | $418,944,634 | |
Australia | — | 61,943,649 | 66,019 | 62,009,668 | |
Belgium | 2,640,279 | 4,528,451 | — | 7,168,730 | |
Canada | 72,814,292 | — | — * | 72,814,292 | |
Germany | 287,102 | 82,206,593 | — | 82,493,695 | |
Hong Kong | 925,832 | 12,161,984 | — | 13,087,816 | |
Ireland | 2,554,818 | 3,486,721 | — | 6,041,539 | |
Israel | 288,603 | 3,471,459 | — | 3,760,062 | |
Netherlands | 541,059 | 52,540,543 | — * | 53,081,602 | |
Singapore | 742,350 | 6,911,598 | — | 7,653,948 | |
Sweden | 546,481 | 20,248,333 | — | 20,794,814 | |
Switzerland | 1,181,948 | 58,380,148 | — | 59,562,096 | |
United Kingdom | 2,109,700 | 146,507,540 | 9,047 | 148,626,287 | |
Preferred Stock1 | — | 6,972,658 | — | 6,972,658 | |
Rights | |||||
Italy | — | — | — * | — | |
Spain | 13,492 | — | — | 13,492 | |
Sweden | — | — | 26,147 | 26,147 | |
Other Investment Company1 | 6,974,447 | — | — | 6,974,447 | |
Short-Term Investments1 | — | 4,242,264 | — | 4,242,264 | |
Total | $91,620,403 | $882,546,575 | $101,213 | $974,268,191 | |
Liabilities Valuation Input | |||||
Other Financial Instruments | |||||
Futures Contracts2 | ($159,730) | $— | $— | ($159,730) |
* | Level 3 amount shown includes securities determined to have no value at October 31, 2016. |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of Condensed Portfolio Holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments, at value (cost $1,051,176,112) including securities on loan of $6,449,085 | $967,293,744 | |
Collateral invested for securities on loan, at value (cost $6,974,447) | + | 6,974,447 |
Total investments, at value (cost $1,058,150,559) | 974,268,191 | |
Foreign currency, at value (cost $844) | 832 | |
Deposit with broker for futures contracts | 672,000 | |
Receivables: | ||
Investments sold | 7,971 | |
Dividends | 2,232,505 | |
Fund shares sold | 1,172,410 | |
Foreign tax reclaims | 928,231 | |
Income from securities on loan | 37,088 | |
Variation margin on futures contracts | 3,825 | |
Interest | 16 | |
Prepaid expenses | + | 14,770 |
Total assets | 979,337,839 | |
Liabilities | ||
Collateral held for securities on loan | 6,974,447 | |
Payables: | ||
Investments bought | 14,115 | |
Investment adviser and administrator fees | 209,909 | |
Shareholder service fees | 1,419 | |
Fund shares redeemed | 431,007 | |
Accrued expenses | + | 299,458 |
Total liabilities | 7,930,355 | |
Net Assets | ||
Total assets | 979,337,839 | |
Total liabilities | – | 7,930,355 |
Net assets | $971,407,484 | |
Net Assets by Source | ||
Capital received from investors | 1,104,372,056 | |
Net investment income not yet distributed | 26,747,894 | |
Net realized capital losses | (75,557,274) | |
Net unrealized capital depreciation | (84,155,192) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$971,407,484 | 122,021,408 | $7.96 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $3,434,251) | $33,789,503 | |
Interest | 4,715 | |
Securities on loan | + | 1,106,132 |
Total investment income | 34,900,350 | |
Expenses | ||
Investment adviser and administrator fees | 2,561,585 | |
Shareholder service fees | 655,568 | |
Index fees | 601,805 | |
Custodian fees | 262,963 | |
Professional fees | 98,145* | |
Portfolio accounting fees | 93,077 | |
Transfer agent fees | 63,542 | |
Shareholder reports | 54,864 | |
Registration fees | 36,429 | |
Proxy fees | 15,283 | |
Independent trustees' fees | 13,867 | |
Interest expense | 10,065 | |
Other expenses | + | 38,667 |
Total expenses | 4,505,860 | |
Expense reduction by CSIM and its affiliates | – | 1,041,627 |
Net expenses | – | 3,464,233 |
Net investment income | 31,436,117 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 23,919,280 | |
Net realized losses on futures contracts | (145,314) | |
Net realized gains on foreign currency transactions | + | 5,818 |
Net realized gains | 23,779,784 | |
Net change in unrealized appreciation (depreciation) on investments | (76,734,681) | |
Net change in unrealized appreciation (depreciation) on futures contracts | (169,149) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | (67,568) |
Net change in unrealized appreciation (depreciation) | + | (76,971,398) |
Net realized and unrealized losses | (53,191,614) | |
Decrease in net assets resulting from operations | ($21,755,497) |
* | Includes professional fees of $47,807 associated with the filing of tax claims in the European Union deemed to be non-routine expenses of the fund. See financial notes 2 and 4 for additional information. |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $31,436,117 | $30,904,722 | ||
Net realized gains | 23,779,784 | 18,843,077 | ||
Net change in unrealized appreciation (depreciation) | + | (76,971,398) | (94,794,551) | |
Decrease in net assets from operations | (21,755,497) | (45,046,752) | ||
Distributions to Shareholders | ||||
Distributions from net investment income | ($31,819,112) | ($30,718,378) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 40,777,391 | $309,566,525 | 77,124,870 | $646,716,280 | ||||
Shares reinvested | 2,600,103 | 19,448,771 | 2,428,390 | 20,277,055 | ||||
Shares redeemed | + | (64,663,235) | (477,115,945) | (38,940,325) | (326,201,774) | |||
Net transactions in fund shares | (21,285,741) | ($148,100,649) | 40,612,935 | $340,791,561 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 143,307,149 | $1,173,082,742 | 102,694,214 | $908,056,311 | ||||
Total increase or decrease | + | (21,285,741) | (201,675,258) | 40,612,935 | 265,026,431 | |||
End of period | 122,021,408 | $971,407,484 | 143,307,149 | $1,173,082,742 | ||||
Net investment income not yet distributed | $26,747,894 | $26,399,326 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $11.25 | $11.15 | $11.47 | $9.13 | $9.53 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss)1 | 0.25 | 0.22 | 0.22 | 0.22 | 0.21 | |
Net realized and unrealized gains (losses) | 0.66 | 0.12 | (0.23) | 2.42 | 0.03 | |
Total from investment operations | 0.91 | 0.34 | (0.01) | 2.64 | 0.24 | |
Less distributions: | ||||||
Distributions from net investment income | (0.23) | (0.19) | (0.31) | (0.30) | (0.25) | |
Distributions from net realized gains | — | (0.05) | — | — | (0.39) | |
Total distributions | (0.23) | (0.24) | (0.31) | (0.30) | (0.64) | |
Net asset value at end of period | $11.93 | $11.25 | $11.15 | $11.47 | $9.13 | |
Total return | 8.29% | 3.09% | (0.07%) | 29.75% | 3.13% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.49% | 0.49% | 0.49% | 0.47% 2,3 | 0.46% 4,5 | |
Gross operating expenses | 0.68% | 0.71% | 0.80% | 0.93% | 0.92% 5 | |
Net investment income (loss) | 2.24% | 1.98% | 1.87% | 2.21% | 2.42% | |
Portfolio turnover rate | 40% | 37% | 41% | 29% | 89% 6 | |
Net assets, end of period (x 1,000,000) | $476 | $427 | $275 | $150 | $90 | |
Holdings by Category | Cost ($) | Value ($) | |
98.1% | Common Stock | 418,316,515 | 466,853,667 |
0.3% | Preferred Stock | 1,291,278 | 1,378,729 |
0.0% | Rights | — | 4,584 |
2.7% | Other Investment Company | 12,674,005 | 12,674,005 |
1.1% | Short-Term Investments | 5,042,424 | 5,042,424 |
102.2% | Total Investments | 437,324,222 | 485,953,409 |
(2.2%) | Other Assets and Liabilities, Net | (10,328,425) | |
100.0% | Net Assets | 475,624,984 |
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 98.1% of net assets | ||||
Australia 6.2% | ||||
ALS Ltd. | 181,573 | 0.2 | 857,938 | |
Dexus Property Group | 111,728 | 0.2 | 758,983 | |
OZ Minerals Ltd. | 175,316 | 0.2 | 895,750 | |
Qantas Airways Ltd. | 340,806 | 0.2 | 791,974 | |
Sigma Pharmaceuticals Ltd. | 758,132 | 0.2 | 765,101 | |
UGL Ltd. * | 328,993 | 0.2 | 803,126 | |
Whitehaven Coal Ltd. * | 388,106 | 0.2 | 892,539 | |
Other Securities | 4.8 | 23,706,787 | ||
6.2 | 29,472,198 | |||
Austria 0.9% | ||||
Other Securities | 0.9 | 4,171,120 | ||
Belgium 1.1% | ||||
Other Securities | 1.1 | 5,364,441 | ||
Canada 8.1% | ||||
Bonavista Energy Corp. | 317,800 | 0.2 | 1,037,772 | |
IAMGOLD Corp. * | 228,268 | 0.2 | 913,889 | |
Parkland Fuel Corp. | 34,362 | 0.2 | 802,625 | |
Waste Connections, Inc. | 19,634 | 0.3 | 1,473,465 | |
Other Securities | 7.2 | 34,226,420 | ||
8.1 | 38,454,171 | |||
Denmark 1.2% | ||||
Other Securities | 1.2 | 5,907,980 | ||
Finland 1.6% | ||||
Other Securities | 1.6 | 7,878,623 | ||
Security | Number of Shares | % of Net Assets | Value ($) | |
France 3.7% | ||||
Edenred | 33,211 | 0.2 | 768,622 | |
Neopost S.A. | 29,327 | 0.2 | 888,209 | |
Nexans S.A. * | 15,948 | 0.2 | 906,521 | |
SEB S.A. | 5,094 | 0.2 | 749,711 | |
Other Securities | 2.9 | 14,094,206 | ||
3.7 | 17,407,269 | |||
Germany 2.9% | ||||
Other Securities | 2.9 | 13,990,707 | ||
Greece 0.0% | ||||
Other Securities | 0.0 | — | ||
Hong Kong 4.2% | ||||
Other Securities | 4.2 | 20,042,886 | ||
Ireland 0.8% | ||||
Other Securities | 0.8 | 3,741,092 | ||
Israel 0.9% | ||||
Other Securities | 0.9 | 4,278,508 | ||
Italy 2.5% | ||||
A2A S.p.A | 564,516 | 0.2 | 768,801 | |
Other Securities | 2.3 | 11,049,650 | ||
2.5 | 11,818,451 | |||
Japan 40.1% | ||||
Dena Co., Ltd. | 34,486 | 0.2 | 1,109,480 | |
EDION Corp. (a) | 97,300 | 0.2 | 862,019 | |
FamilyMart UNY Holdings Co., Ltd. | 30,100 | 0.4 | 1,887,887 | |
Fujikura Ltd. | 130,000 | 0.2 | 763,815 | |
Fukuoka Financial Group, Inc. | 172,000 | 0.2 | 744,325 | |
Hitachi Chemical Co., Ltd. | 38,800 | 0.2 | 907,022 | |
Hitachi High-Technologies Corp. | 21,600 | 0.2 | 900,850 | |
Konami Holdings Corp. | 24,500 | 0.2 | 967,564 | |
Mitsubishi Gas Chemical Co., Inc. | 67,000 | 0.2 | 1,031,178 | |
Morinaga Milk Industry Co., Ltd. | 113,000 | 0.2 | 910,165 | |
Nichirei Corp. | 41,000 | 0.2 | 896,533 | |
Nissin Foods Holdings Co., Ltd. | 14,000 | 0.2 | 810,305 | |
NOK Corp. | 33,400 | 0.2 | 752,693 | |
North Pacific Bank Ltd. | 265,000 | 0.2 | 988,288 | |
Taisho Pharmaceutical Holdings Co., Ltd. | 8,100 | 0.2 | 790,149 | |
The Chiba Bank Ltd. | 124,000 | 0.2 | 766,914 |
Security | Number of Shares | % of Net Assets | Value ($) | |
Tokuyama Corp. *(a) | 247,000 | 0.2 | 1,056,115 | |
Toyoda Gosei Co., Ltd. | 33,200 | 0.2 | 760,767 | |
Toyota Boshoku Corp. | 32,500 | 0.2 | 819,359 | |
Tsuruha Holdings, Inc. | 6,600 | 0.2 | 761,527 | |
Yamaha Corp. | 25,000 | 0.2 | 893,236 | |
Other Securities | 35.7 | 171,188,327 | ||
40.1 | 190,568,518 | |||
Luxembourg 0.5% | ||||
Ternium S.A. ADR | 33,174 | 0.2 | 793,190 | |
Other Securities | 0.3 | 1,786,650 | ||
0.5 | 2,579,840 | |||
Netherlands 2.0% | ||||
X5 Retail Group N.V. GDR - Reg'd * | 28,006 | 0.2 | 835,699 | |
Other Securities | 1.8 | 8,618,141 | ||
2.0 | 9,453,840 | |||
New Zealand 1.0% | ||||
Other Securities | 1.0 | 4,939,850 | ||
Norway 1.4% | ||||
Other Securities | 1.4 | 6,501,606 | ||
Portugal 0.4% | ||||
Other Securities | 0.4 | 1,906,772 | ||
Singapore 1.9% | ||||
Hutchison Port Holdings Trust, Class U | 1,674,900 | 0.2 | 744,007 | |
Other Securities | 1.7 | 8,380,941 | ||
1.9 | 9,124,948 | |||
Spain 1.8% | ||||
Other Securities | 1.8 | 8,367,688 | ||
Sweden 1.9% | ||||
Husqvarna AB, B Shares | 106,116 | 0.2 | 797,799 | |
Other Securities | 1.7 | 8,371,291 | ||
1.9 | 9,169,090 | |||
Switzerland 2.9% | ||||
Georg Fischer AG - Reg'd | 872 | 0.2 | 773,111 | |
Other Securities | 2.7 | 12,940,340 | ||
2.9 | 13,713,451 | |||
United Kingdom 10.1% | ||||
Evraz plc * | 413,820 | 0.2 | 1,037,530 | |
IHS Markit Ltd. * | 21,301 | 0.2 | 783,664 | |
Kazakhmys plc * | 312,237 | 0.2 | 1,090,635 | |
Melrose Industries plc | 426,586 | 0.2 | 880,343 | |
Serco Group plc * | 531,450 | 0.2 | 890,052 |
Security | Number of Shares | % of Net Assets | Value ($) | |
Vedanta Resources plc | 146,946 | 0.3 | 1,283,950 | |
Other Securities | 8.8 | 42,034,444 | ||
10.1 | 48,000,618 | |||
Total Common Stock | ||||
(Cost $418,316,515) | 466,853,667 | |||
Preferred Stock 0.3% of net assets | ||||
Germany 0.2% | ||||
Other Securities | 0.2 | 1,023,210 | ||
Italy 0.0% | ||||
Other Securities | 0.0 | 166,091 | ||
Sweden 0.1% | ||||
Other Securities | 0.1 | 188,453 | ||
United Kingdom 0.0% | ||||
Other Securities | 0.0 | 975 | ||
Total Preferred Stock | ||||
(Cost $1,291,278) | 1,378,729 | |||
Rights 0.0% of net assets | ||||
Australia 0.0% | ||||
Other Securities | 0.0 | 4,584 | ||
Total Rights | ||||
(Cost $—) | 4,584 | |||
Other Investment Company 2.7% of net assets | ||||
United States 2.7% | ||||
Securities Lending Collateral 2.7% | ||||
Wells Fargo Government Money Market Fund, Select Class 0.32%(d) | 12,674,005 | 2.7 | 12,674,005 | |
Total Other Investment Company | ||||
(Cost $12,674,005) | 12,674,005 | |||
Security Rate, Maturity Date | Face Amount ($) | % of Net Assets | Value ($) | |
Short-Term Investments 1.1% of net assets | ||||
Time Deposits 1.1% | ||||
Sumitomo Mitsui Banking Corp. | 3,587,443 | 0.8 | 3,587,443 | |
Other Securities | 0.3 | 1,454,981 | ||
1.1 | 5,042,424 | |||
Total Short-Term Investments | ||||
(Cost $5,042,424) | 5,042,424 |
At 10/31/16, the tax basis cost of the fund's investments was $445,714,319 and the unrealized appreciation and depreciation were $71,389,818 and ($31,150,728), respectively, with a net unrealized appreciation of $40,239,090.
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $11,642,227. |
(b) | Illiquid security. At the period end, the value of these amounted to $24,889 or 0.0% of net assets. |
(c) | Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $3,631,609 or 0.8% of net assets. |
(d) | The rate shown is the 7-day yield. |
(e) | The rate shown is the current daily overnight rate. |
(f) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
ADR — | American Depositary Receipt |
CDI — | CHESS Depositary Interest |
CVA — | Dutch Certificate |
GDR — | Global Depositary Receipt |
Reg'd — | Registered |
REIT — | Real Estate Investment Trust |
RSP — | Risparmio (Convertible Savings Shares) |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
MSCI EAFE, e-mini, Long, expires 12/16/16 | 80 | 6,662,800 | (50,330) |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Common Stock1 | $— | $5,907,980 | $— | $5,907,980 | |
Australia | 215,238 | 29,256,960 | — * | 29,472,198 | |
Austria | 362,650 | 3,808,470 | — | 4,171,120 | |
Belgium | 688,211 | 4,676,230 | — | 5,364,441 | |
Canada | 38,454,171 | — | — | 38,454,171 | |
Finland | 223,099 | 7,655,524 | — | 7,878,623 | |
France | 212,826 | 17,194,443 | — | 17,407,269 | |
Germany | 95,278 | 13,895,429 | — | 13,990,707 | |
Greece | — | — | — * | — | |
Hong Kong | 182,935 | 19,859,951 | — | 20,042,886 | |
Ireland | 2,522,883 | 1,218,209 | — | 3,741,092 | |
Israel | 350,300 | 3,928,208 | — | 4,278,508 | |
Italy | 1,071,877 | 10,746,574 | — * | 11,818,451 | |
Japan | 401,194 | 190,167,324 | — | 190,568,518 | |
Luxembourg | 941,914 | 1,637,926 | — * | 2,579,840 | |
Netherlands | 2,278,928 | 7,174,912 | — | 9,453,840 | |
New Zealand | 401,251 | 4,538,599 | — | 4,939,850 | |
Norway | 761,991 | 5,739,615 | — | 6,501,606 | |
Portugal | 214,187 | 1,692,585 | — * | 1,906,772 | |
Singapore | 262,509 | 8,862,439 | — * | 9,124,948 | |
Spain | 704,032 | 7,663,656 | — * | 8,367,688 | |
Sweden | 72,119 | 9,096,971 | — | 9,169,090 | |
Switzerland | 2,057,930 | 11,655,521 | — | 13,713,451 | |
United Kingdom | 11,648,356 | 36,328,348 | 23,914 * | 48,000,618 | |
Preferred Stock1 | — | 1,189,301 | — | 1,189,301 | |
Sweden | 188,453 | — | — | 188,453 | |
United Kingdom | — | — | 975 | 975 | |
Rights 1 | 4,584 | — | — | 4,584 | |
Other Investment Company | |||||
United States1 | 12,674,005 | — | — | 12,674,005 | |
Short-Term Investments1 | — | 5,042,424 | — | 5,042,424 | |
Total | $76,990,921 | $408,937,599 | $24,889 | $485,953,409 | |
Liabilities Valuation Input | |||||
Other Financial Instruments | |||||
Futures Contracts2 | ($50,330) | $— | $— | ($50,330) |
* | Level 3 amount shown includes securities determined to have no value at October 31, 2016. |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of Condensed Portfolio Holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments, at value (cost $424,650,217) including securities on loan of $11,642,227 | $473,279,404 | |
Collateral invested for securities on loan, at value (cost $12,674,005) | + | 12,674,005 |
Total investments, at value (cost $437,324,222) | 485,953,409 | |
Deposit with broker for futures contracts | 420,000 | |
Receivables: | ||
Investments sold | 191,034 | |
Dividends | 1,395,279 | |
Fund shares sold | 848,872 | |
Foreign tax reclaims | 164,634 | |
Income from securities on loan | 40,155 | |
Variation margin on futures contracts | 3,152 | |
Interest | 15 | |
Prepaid expenses | + | 11,346 |
Total assets | 489,027,896 | |
Liabilities | ||
Collateral held for securities on loan | 12,674,005 | |
Payables: | ||
Investment adviser and administrator fees | 126,617 | |
Shareholder service fees | 780 | |
Fund shares redeemed | 236,311 | |
Due to custodian | 13,706 | |
Accrued expenses | + | 351,493 |
Total liabilities | 13,402,912 | |
Net Assets | ||
Total assets | 489,027,896 | |
Total liabilities | – | 13,402,912 |
Net assets | $475,624,984 | |
Net Assets by Source | ||
Capital received from investors | 426,353,621 | |
Net investment income not yet distributed | 6,730,088 | |
Net realized capital losses | (5,981,800) | |
Net unrealized capital appreciation | 48,523,075 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$475,624,984 | 39,872,738 | $11.93 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $1,272,585) | $11,083,850 | |
Interest | 4,035 | |
Securities on loan | + | 603,029 |
Total investment income | 11,690,914 | |
Expenses | ||
Investment adviser and administrator fees | 1,711,622 | |
Shareholder service fees | 379,086 | |
Index fees | 366,931 | |
Custodian fees | 171,960 | |
Portfolio accounting fees | 91,491 | |
Professional fees | 45,045 | |
Shareholder reports | 42,278 | |
Transfer agent fees | 29,409 | |
Registration fees | 28,422 | |
Proxy fees | 14,595 | |
Independent trustees' fees | 10,468 | |
Interest expense | 2,193 | |
Other expenses | + | 36,635 |
Total expenses | 2,930,135 | |
Expense reduction by CSIM and its affiliates | – | 816,610 |
Net expenses | – | 2,113,525 |
Net investment income | 9,577,389 | |
Realized and Unrealized Gains (Losses) | ||
Net realized gains on investments | 191,965 | |
Net realized losses on futures contracts | (93,457) | |
Net realized gains on foreign currency transactions | + | 68,033 |
Net realized gains | 166,541 | |
Net change in unrealized appreciation (depreciation) on investments | 26,234,518 | |
Net change in unrealized appreciation (depreciation) on futures contracts | (50,330) | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | (46,681) |
Net change in unrealized appreciation (depreciation) | + | 26,137,507 |
Net realized and unrealized gains | 26,304,048 | |
Increase in net assets resulting from operations | $35,881,437 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $9,577,389 | $7,361,535 | ||
Net realized gains (losses) | 166,541 | (3,607,548) | ||
Net change in unrealized appreciation (depreciation) | + | 26,137,507 | 6,250,814 | |
Increase in net assets from operations | 35,881,437 | 10,004,801 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (8,387,388) | (4,674,757) | ||
Distributions from net realized gains | + | — | (1,212,255) | |
Total distributions | ($8,387,388) | ($5,887,012) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 13,213,332 | $147,536,415 | 21,683,419 | $240,269,549 | ||||
Shares reinvested | 604,755 | 6,525,310 | 378,138 | 4,049,856 | ||||
Shares redeemed | + | (11,915,246) | (132,914,627) | (8,780,138) | (96,851,042) | |||
Net transactions in fund shares | 1,902,841 | $21,147,098 | 13,281,419 | $147,468,363 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 37,969,897 | $426,983,837 | 24,688,478 | $275,397,685 | ||||
Total increase | + | 1,902,841 | 48,641,147 | 13,281,419 | 151,586,152 | |||
End of period | 39,872,738 | $475,624,984 | 37,969,897 | $426,983,837 | ||||
Net investment income not yet distributed | $6,730,088 | $4,752,504 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $6.67 | $8.60 | $9.24 | $8.86 | $9.17 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.16 1 | 0.20 1 | 0.20 | 0.19 | 0.25 | |
Net realized and unrealized gains (losses) | 1.22 | (1.92) | (0.66) | 0.43 | (0.17) | |
Total from investment operations | 1.38 | (1.72) | (0.46) | 0.62 | 0.08 | |
Less distributions: | ||||||
Distributions from net investment income | (0.19) | (0.21) | (0.18) | (0.24) | (0.22) | |
Distributions from net realized gains | — | — | — | — | (0.17) | |
Total distributions | (0.19) | (0.21) | (0.18) | (0.24) | (0.39) | |
Net asset value at end of period | $7.86 | $6.67 | $8.60 | $9.24 | $8.86 | |
Total return | 21.64% | (20.28%) | (5.03%) | 7.11% | 1.18% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses | 0.49% | 0.49% | 0.49% | 0.51% 2,3 | 0.56% 4 | |
Gross operating expenses | 0.88% | 0.85% | 0.85% | 0.88% | 0.91% | |
Net investment income (loss) | 2.41% | 2.61% | 2.35% | 2.22% | 2.75% | |
Portfolio turnover rate | 20% | 27% | 19% | 22% | 86% 5 | |
Net assets, end of period (x 1,000,000) | $336 | $304 | $346 | $353 | $314 | |
Holdings by Category | Cost ($) | Value ($) | |
85.6% | Common Stock | 271,859,684 | 287,081,355 |
14.3% | Preferred Stock | 38,095,111 | 48,115,382 |
0.3% | Short-Term Investments | 981,984 | 981,984 |
100.2% | Total Investments | 310,936,779 | 336,178,721 |
(0.2%) | Other Assets and Liabilities, Net | (584,508) | |
100.0% | Net Assets | 335,594,213 |
Security | Number of Shares | % of Net Assets | Value ($) | |
Common Stock 85.6% of net assets | ||||
Brazil 8.7% | ||||
Ambev S.A. | 321,050 | 0.6 | 1,893,913 | |
Banco do Brasil S.A. | 396,215 | 1.1 | 3,635,695 | |
Petroleo Brasileiro S.A. * | 1,382,458 | 2.4 | 8,073,000 | |
Vale S.A. * | 873,876 | 1.8 | 6,044,857 | |
Other Securities | 2.8 | 9,372,273 | ||
8.7 | 29,019,738 | |||
Chile 0.6% | ||||
Other Securities | 0.6 | 2,070,882 | ||
China 15.0% | ||||
Bank of China Ltd., Class H | 8,614,234 | 1.2 | 3,860,202 | |
China Construction Bank Corp., Class H | 10,516,960 | 2.3 | 7,679,976 | |
China Mobile Ltd. | 516,055 | 1.8 | 5,912,128 | |
China Petroleum & Chemical Corp., Class H | 6,915,400 | 1.5 | 5,001,220 | |
CNOOC Ltd. | 2,632,075 | 1.0 | 3,311,871 | |
Industrial & Commercial Bank of China Ltd., Class H | 8,768,172 | 1.6 | 5,263,001 | |
PetroChina Co., Ltd., Class H | 3,670,000 | 0.7 | 2,511,143 | |
Other Securities | 4.9 | 16,835,562 | ||
15.0 | 50,375,103 | |||
Colombia 0.4% | ||||
Other Securities | 0.4 | 1,447,545 | ||
Czech Republic 0.2% | ||||
Other Securities | 0.2 | 806,316 | ||
Greece 0.7% | ||||
Other Securities | 0.7 | 2,198,357 | ||
Security | Number of Shares | % of Net Assets | Value ($) | |
Hungary 0.5% | ||||
Other Securities | 0.5 | 1,499,825 | ||
India 4.0% | ||||
Oil & Natural Gas Corp., Ltd. | 313,146 | 0.4 | 1,353,717 | |
Reliance Industries Ltd. | 173,010 | 0.8 | 2,722,830 | |
Other Securities | 2.8 | 9,270,944 | ||
4.0 | 13,347,491 | |||
Indonesia 1.4% | ||||
Other Securities | 1.4 | 4,674,998 | ||
Malaysia 1.7% | ||||
Other Securities | 1.7 | 5,768,161 | ||
Mexico 2.9% | ||||
America Movil S.A.B. de C.V., Series L | 3,554,119 | 0.7 | 2,354,244 | |
Cemex S.A.B. de C.V., Series CPO * | 1,629,900 | 0.4 | 1,410,780 | |
Other Securities | 1.8 | 5,858,182 | ||
2.9 | 9,623,206 | |||
Peru 0.1% | ||||
Other Securities | 0.1 | 426,712 | ||
Philippines 0.1% | ||||
Other Securities | 0.1 | 401,106 | ||
Poland 1.9% | ||||
Polski Koncern Naftowy Orlen S.A. | 89,614 | 0.5 | 1,775,463 | |
Other Securities | 1.4 | 4,485,824 | ||
1.9 | 6,261,287 | |||
Republic of Korea 15.6% | ||||
Hyundai Heavy Industries Co., Ltd. * | 13,782 | 0.5 | 1,747,837 | |
Hyundai Mobis Co., Ltd. | 7,449 | 0.5 | 1,776,648 | |
Hyundai Motor Co. | 23,535 | 0.9 | 2,873,374 | |
Kia Motors Corp. | 49,391 | 0.5 | 1,753,811 | |
LG Display Co., Ltd. | 60,870 | 0.4 | 1,455,379 | |
LG Electronics, Inc. | 31,678 | 0.4 | 1,320,571 | |
POSCO | 20,698 | 1.3 | 4,306,683 | |
Samsung Electronics Co., Ltd. | 11,785 | 5.0 | 16,856,417 | |
Shinhan Financial Group Co., Ltd. | 44,379 | 0.5 | 1,697,682 | |
SK Hynix, Inc. | 51,882 | 0.6 | 1,855,644 |
Security | Number of Shares | % of Net Assets | Value ($) | |
SK Innovation Co., Ltd. | 16,572 | 0.7 | 2,181,443 | |
Other Securities | 4.3 | 14,613,254 | ||
15.6 | 52,438,743 | |||
Russia 11.3% | ||||
Gazprom PJSC * | 4,370,370 | 2.9 | 9,570,507 | |
Gazprom PJSC ADR | 878,000 | 1.1 | 3,785,829 | |
Lukoil PJSC | 204,336 | 3.0 | 9,990,995 | |
MMC Norilsk Nickel PJSC * | 9,320 | 0.4 | 1,373,570 | |
Sberbank of Russia PJSC * | 646,260 | 0.4 | 1,502,474 | |
Surgutneftegas OJSC | 7,083,005 | 0.9 | 3,018,040 | |
Tatneft PJSC * | 320,540 | 0.5 | 1,794,787 | |
Other Securities | 2.1 | 7,033,111 | ||
11.3 | 38,069,313 | |||
South Africa 6.2% | ||||
MTN Group Ltd. | 376,011 | 1.0 | 3,247,733 | |
Sasol Ltd. | 114,014 | 0.9 | 3,148,495 | |
Standard Bank Group Ltd. | 164,981 | 0.5 | 1,751,320 | |
Other Securities | 3.8 | 12,613,687 | ||
6.2 | 20,761,235 | |||
Taiwan 11.5% | ||||
Formosa Chemicals & Fibre Corp. | 442,442 | 0.4 | 1,313,612 | |
Hon Hai Precision Industry Co., Ltd. | 2,130,466 | 1.7 | 5,754,733 | |
Taiwan Semiconductor Manufacturing Co., Ltd. | 1,017,103 | 1.8 | 6,103,993 | |
Other Securities | 7.6 | 25,483,746 | ||
11.5 | 38,656,084 | |||
Thailand 1.5% | ||||
PTT PCL | 199,087 | 0.6 | 1,968,258 | |
Other Securities | 0.9 | 3,046,325 | ||
1.5 | 5,014,583 | |||
Turkey 1.2% | ||||
Other Securities | 1.2 | 4,003,840 | ||
United Arab Emirates 0.1% | ||||
Other Securities | 0.1 | 216,830 | ||
Total Common Stock | ||||
(Cost $271,859,684) | 287,081,355 | |||
Preferred Stock 14.3% of net assets | ||||
Brazil 12.1% | ||||
Banco Bradesco S.A. | 406,816 | 1.3 | 4,261,882 | |
Companhia Energetica de Minas Gerais | 573,908 | 0.5 | 1,753,008 | |
Gerdau S.A. | 682,206 | 0.7 | 2,355,235 | |
Itau Unibanco Holding S.A. | 529,285 | 1.9 | 6,367,339 | |
Metalurgica Gerdau S.A. * | 1,237,777 | 0.5 | 1,841,930 | |
Petroleo Brasileiro S.A. * | 2,182,154 | 3.6 | 12,093,454 | |
Vale S.A. * | 1,245,128 | 2.4 | 8,047,303 | |
Other Securities | 1.2 | 3,994,016 | ||
12.1 | 40,714,167 | |||
Security | Number of Shares | % of Net Assets | Value ($) | |
Colombia 0.1% | ||||
Other Securities | 0.1 | 406,851 | ||
Republic of Korea 1.0% | ||||
Samsung Electronics Co., Ltd. | 2,060 | 0.7 | 2,368,525 | |
Other Securities | 0.3 | 1,024,457 | ||
1.0 | 3,392,982 | |||
Russia 1.1% | ||||
AK Transneft OAO * | 1,216 | 0.9 | 2,915,274 | |
Other Securities | 0.2 | 686,108 | ||
1.1 | 3,601,382 | |||
Total Preferred Stock | ||||
(Cost $38,095,111) | 48,115,382 | |||
Security Rate, Maturity Date | Face Amount ($) | % of Net Assets | Value ($) | |
Short-Term Investments 0.3% of net assets | ||||
Time Deposit 0.3% | ||||
Other Securities | 0.3 | 981,984 | ||
Total Short-Term Investments | ||||
(Cost $981,984) | 981,984 |
* | Non-income producing security. |
(a) | Illiquid security. At the period end, the value of these amounted to $0 or 0.0% of net assets. |
(b) | The rate shown is the current daily overnight rate. |
(c) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
ADR — | American Depositary Receipt |
GDR — | Global Depositary Receipt |
Reg'd — | Registered |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
MSCI EMG MKT, e-mini, Long, expires 12/16/16 | 15 | 677,625 | (12,533) |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Common Stock1 | $— | $124,504,877 | $— | $124,504,877 | |
Brazil | 29,019,738 | — | — | 29,019,738 | |
Chile | 1,187,540 | 883,342 | — | 2,070,882 | |
China | 828,248 | 49,546,855 | — | 50,375,103 | |
Colombia | 1,447,545 | — | — | 1,447,545 | |
Malaysia | 2,550,526 | 3,217,635 | — | 5,768,161 | |
Mexico | 9,623,206 | — | — | 9,623,206 | |
Peru | 426,712 | — | — | 426,712 | |
Russia | 34,283,484 | 3,785,829 | — | 38,069,313 | |
South Africa | 349,988 | 20,411,247 | — * | 20,761,235 | |
Thailand | 4,399,086 | 615,497 | — | 5,014,583 | |
Preferred Stock1 | — | 3,392,982 | — | 3,392,982 | |
Brazil | 40,714,167 | — | — | 40,714,167 | |
Colombia | 406,851 | — | — | 406,851 | |
Russia | 3,601,382 | — | — | 3,601,382 | |
Short-Term Investments1 | — | 981,984 | — | 981,984 | |
Total | $128,838,473 | $207,340,248 | $— | $336,178,721 | |
Liabilities Valuation Input | |||||
Other Financial Instruments | |||||
Futures Contracts2 | ($12,533) | $— | $— | ($12,533) |
* | Level 3 amount shown includes securities determined to have no value at October 31, 2016. |
1 | As categorized in the complete schedule of Portfolio Holdings. |
2 | Futures contracts are not included in Investments in the schedule of Condensed Portfolio Holdings and are valued at unrealized appreciation or depreciation. |
Assets | ||
Investments, at value (cost $310,936,779) | $336,178,721 | |
Foreign currency, at value (cost $365,923) | 362,646 | |
Deposit with broker for futures contracts | 148,000 | |
Receivables: | ||
Fund shares sold | 365,697 | |
Dividends | 331,836 | |
Variation margin on futures contracts | 8,748 | |
Foreign tax reclaims | 2,326 | |
Prepaid expenses | + | 6,018 |
Total assets | 337,403,992 | |
Liabilities | ||
Payables: | ||
Investment adviser and administrator fees | 72,107 | |
Shareholder service fees | 34 | |
Fund shares redeemed | 1,307,196 | |
Foreign capital gains tax | 170,335 | |
Accrued expenses and other liabilities | + | 260,107 |
Total liabilities | 1,809,779 | |
Net Assets | ||
Total assets | 337,403,992 | |
Total liabilities | – | 1,809,779 |
Net assets | $335,594,213 | |
Net Assets by Source | ||
Capital received from investors | 390,500,306 | |
Net investment income not yet distributed | 6,137,971 | |
Net realized capital losses | (86,108,952) | |
Net unrealized capital appreciation | 25,064,888 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$335,594,213 | 42,693,193 | $7.86 | ||
Investment Income | ||
Dividends (net of foreign withholding tax of $1,369,976) | $8,749,278 | |
Interest | 4,474 | |
Securities on loan | + | 4,512 |
Total investment income | 8,758,264 | |
Expenses | ||
Investment adviser and administrator fees | 1,505,913 | |
Shareholder service fees | 220,183 | |
Custodian fees | 377,509 | |
Index fees | 258,266 | |
Portfolio accounting fees | 72,076 | |
Professional fees | 46,805 | |
Shareholder reports | 42,796 | |
Transfer agent fees | 34,223 | |
Registration fees | 29,939 | |
Proxy fees | 10,548 | |
Independent trustees' fees | 9,726 | |
Interest expense | 1,836 | |
Other expenses | + | 27,702 |
Total expenses | 2,637,522 | |
Expense reduction by CSIM and its affiliates | – | 1,149,343 |
Net expenses | – | 1,488,179 |
Net investment income | 7,270,085 | |
Realized and Unrealized Gains (Losses) | ||
Net realized losses on investments (net of foreign capital gain tax paid of ($156)) | (38,789,026) | |
Net realized losses on futures contracts | (275,239) | |
Net realized losses on foreign currency transactions | + | (158,338) |
Net realized losses | (39,222,603) | |
Net change in unrealized appreciation (depreciation) on investments (net of change in foreign capital gains tax of ($12,591)) | 93,326,896 | |
Net change in unrealized appreciation (depreciation) on futures contracts | 9,400 | |
Net change in unrealized appreciation (depreciation) on foreign currency translations | + | 28,959 |
Net change in unrealized appreciation (depreciation) | + | 93,365,255 |
Net realized and unrealized gains | 54,142,652 | |
Increase in net assets resulting from operations | $61,412,737 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $7,270,085 | $9,002,515 | ||
Net realized losses | (39,222,603) | (24,092,672) | ||
Net change in unrealized appreciation (depreciation) | + | 93,365,255 | (57,788,193) | |
Increase (decrease) in net assets from operations | 61,412,737 | (72,878,350) | ||
Distributions to Shareholders | ||||
Distributions from net investment income | ($8,647,638) | ($8,501,798) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 15,830,412 | $100,588,374 | 28,202,624 | $207,886,222 | ||||
Shares reinvested | 944,255 | 5,589,988 | 686,509 | 5,279,258 | ||||
Shares redeemed | + | (19,713,318) | (127,760,306) | (23,465,190) | (172,997,984) | |||
Net transactions in fund shares | (2,938,651) | ($21,581,944) | 5,423,943 | $40,167,496 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 45,631,844 | $304,411,058 | 40,207,901 | $345,623,710 | ||||
Total increase or decrease | + | (2,938,651) | 31,183,155 | 5,423,943 | (41,212,652) | |||
End of period | 42,693,193 | $335,594,213 | 45,631,844 | $304,411,058 | ||||
Net investment income not yet distributed | $6,137,971 | $7,562,010 |
SCHWAB CAPITAL TRUST (ORGANIZED MAY 7, 1993) | |
Schwab Fundamental US Large Company Index Fund | Schwab Target 2015 Fund |
Schwab Fundamental US Small Company Index Fund | Schwab Target 2020 Fund |
Schwab Fundamental International Large Company Index Fund | Schwab Target 2025 Fund |
Schwab Fundamental International Small Company Index Fund | Schwab Target 2030 Fund |
Schwab Fundamental Emerging Markets Large Company Index Fund | Schwab Target 2035 Fund |
Schwab Fundamental Global Real Estate Index Fund | Schwab Target 2040 Fund |
Schwab ® S&P 500 Index Fund | Schwab Target 2045 Fund |
Schwab Small-Cap Index Fund® | Schwab Target 2050 Fund |
Schwab Total Stock Market Index Fund® | Schwab Target 2055 Fund |
Schwab International Index Fund® | Schwab Target 2060 Fund |
Schwab MarketTrack All Equity Portfolio™ | Schwab Target 2010 Index Fund |
Schwab MarketTrack Growth Portfolio™ | Schwab Target 2015 Index Fund |
Schwab MarketTrack Balanced Portfolio™ | Schwab Target 2020 Index Fund |
Schwab MarketTrack Conservative Portfolio™ | Schwab Target 2025 Index Fund |
Laudus Small-Cap MarketMasters Fund™ | Schwab Target 2030 Index Fund |
Laudus International MarketMasters Fund™ | Schwab Target 2035 Index Fund |
Schwab Balanced Fund™ | Schwab Target 2040 Index Fund |
Schwab Core Equity Fund™ | Schwab Target 2045 Index Fund |
Schwab Dividend Equity Fund™ | Schwab Target 2050 Index Fund |
Schwab Large-Cap Growth Fund™ | Schwab Target 2055 Index Fund |
Schwab Small-Cap Equity Fund™ | Schwab Target 2060 Index Fund |
Schwab Hedged Equity Fund™ | Schwab ® Monthly Income Fund - Moderate Payout |
Schwab Health Care Fund™ | Schwab ® Monthly Income Fund - Enhanced Payout |
Schwab ® International Core Equity Fund | Schwab ® Monthly Income Fund - Maximum Payout |
Schwab Target 2010 Fund |
2. Significant Accounting Policies:
3. Risk Factors:
4. Affiliates and Affiliated Transactions:
% of Average Daily Net Assets | Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund |
First $500 million | 0.30% | 0.30% | 0.30% | 0.40% | 0.50% |
$500 million to $5 billion | 0.22% | 0.22% | 0.22% | 0.38% | 0.48% |
$5 billion to $10 billion | 0.20% | 0.20% | 0.20% | 0.36% | 0.46% |
over $10 billion | 0.18% | 0.18% | 0.18% | 0.34% | 0.44% |
Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund |
0.23% | 0.25% | 0.26% | 0.40% | 0.50% |
Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund |
0.35% | 0.35% | 0.35% | 0.49% | 0.49% |
Fund | Balance of Shares Held at 10/31/15 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/16 | Market Value at 10/31/16 | Realized Gains (Losses) 11/01/15 to 10/31/16 | Dividends Received 11/01/15 to 10/31/16 |
Schwab Fundamental US Large Company Index Fund | 81,215 | — | (8,500) | 72,715 | $2,305,066 | $84,291 | $19,416 |
Underlying Funds | |||||
Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund | |
Schwab MarketTrack All Equity Portfolio | 1.6% | 3.1% | 3.5% | 5.9% | 8.4% |
Schwab MarketTrack Growth Portfolio | 1.9% | 3.1% | 2.9% | 5.0% | 7.4% |
Schwab MarketTrack Balanced Portfolio | 1.0% | 1.7% | 1.6% | 2.7% | 4.0% |
Schwab MarketTrack Conservative Portfolio | 0.3% | 0.5% | 0.5% | 0.8% | 1.2% |
Total Aggregate Transactions | Realized Gains (Losses) | |
Schwab Fundamental US Large Company Index Fund | $199,916,075 | $21,890,188 |
Schwab Fundamental US Small Company Index Fund | 120,784,372 | 13,640,827 |
Schwab Fundamental International Large Company Index Fund | 21,133,422 | (1,665,180) |
Schwab Fundamental International Small Company Index Fund | 39,357,803 | (105,638) |
Schwab Fundamental Emerging Markets Large Company Index Fund | 2,220,791 | (365,984) |
5. Board of Trustees:
6. Borrowing from Banks:
7. Derivatives:
Contract Values | Number of Contracts | |
Schwab Fundamental US Large Company Index Fund | $27,189,173 | 262 |
Schwab Fundamental US Small Company Index Fund | 12,130,926 | 107 |
Schwab Fundamental International Large Company Index Fund | 5,945,217 | 71 |
Schwab Fundamental International Small Company Index Fund | 1,086,190 | 13 |
Schwab Fundamental Emerging Markets Large Company Index Fund | 3,383,526 | 81 |
8. Purchases and Sales/Maturities of Investment Securities:
Purchases of Securities | Sales/Maturities of Securities | |
Schwab Fundamental US Large Company Index Fund | $495,896,339 | $895,630,715 |
Schwab Fundamental US Small Company Index Fund | 408,672,630 | 465,112,708 |
Schwab Fundamental International Large Company Index Fund | 172,155,180 | 318,630,203 |
Schwab Fundamental International Small Company Index Fund | 188,725,960 | 170,834,185 |
Schwab Fundamental Emerging Markets Large Company Index Fund | 60,208,259 | 82,781,907 |
9. Redemption Fee:
Current Period (11/1/15-10/31/16) | Prior Period (11/1/14-10/31/15) | |
Schwab Fundamental US Large Company Index Fund | $71,689 | $81,788 |
Schwab Fundamental US Small Company Index Fund | 15,918 | 11,606 |
Schwab Fundamental International Large Company Index Fund | 34,029 | 22,524 |
Schwab Fundamental International Small Company Index Fund | 5,204 | 6,552 |
Schwab Fundamental Emerging Markets Large Company Index Fund | 43,985 | 13,706 |
Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund | |||||
Undistributed ordinary income | $119,863,697 | $14,240,766 | $27,991,114 | $10,609,786 | $6,649,413 | ||||
Undistributed long-term capital gains | 201,230,533 | 10,054,845 | — | — | — | ||||
Unrealized appreciation on investments | 1,023,735,954 | 305,762,362 | 68,512,456 | 71,389,818 | 28,923,173 | ||||
Unrealized depreciation on investments | (186,708,548) | (79,059,996) | (169,985,600) | (31,150,728) | (30,310,921) | ||||
Other unrealized appreciation (depreciation) | — | (9) | (113,094) | (55,782) | (164,521) | ||||
Net unrealized appreciation (depreciation) | $837,027,406 | $226,702,357 | ($101,586,238) | $40,183,308 | ($1,552,269) |
Expiration Date | Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund | ||||
October 31, 2017 | $— | $— | $38,420,971 | $— | $— | ||||
October 31, 2018 | — | — | 20,948,477 | — | — | ||||
No expiration* | — | — | — | 1,521,731 | 60,003,237 | ||||
Total | $— | $— | $59,369,448 | $1,521,731 | $60,003,237 |
* | As a result of the passage of the Regulated Investment Company Modernization Act of 2010, capital losses incurred after December 31, 2010 may now be carried forward indefinitely, but must retain the character of the original loss. |
Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund | |
Capital loss carryforwards utilized | $— | $— | $22,391,070 | $— | $— |
Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund | |
Current period distributions | |||||
Ordinary income | $172,769,868 | $20,540,783 | $31,819,112 | $8,387,388 | $8,647,638 |
Long-term capital gains | 82,222,528 | 61,259,281 | — | — | — |
Prior period distributions | |||||
Ordinary income | $138,919,379 | $28,684,248 | $30,718,378 | $4,676,828 | $8,501,798 |
Long-term capital gains | 52,162,182 | 46,582,789 | — | 1,210,184 | — |
Schwab Fundamental US Large Company Index Fund | Schwab Fundamental US Small Company Index Fund | Schwab Fundamental International Large Company Index Fund | Schwab Fundamental International Small Company Index Fund | Schwab Fundamental Emerging Markets Large Company Index Fund | |
Capital shares | $— | $— | $— | $— | $— |
Undistributed net investment income | (399,649) | (572,637) | 731,563 | 787,583 | (46,486) |
Net realized capital gains (losses) | 399,649 | 572,637 | (731,563) | (787,583) | 46,486 |
11. Recent Regulatory Development:
12. Subsequent Events:
Schwab Fundamental US Large Company Index Fund
Schwab Fundamental US Small Company Index Fund
Schwab Fundamental International Large Company Index Fund
Schwab Fundamental International Small Company Index Fund
Schwab Fundamental Emerging Markets Large Company Index Fund
San Francisco, California
December 16, 2016
Foreign Tax Credit | Foreign Source Income | |
Schwab Fundamental US Large Company Index Fund | $— | $— |
Schwab Fundamental US Small Company Index Fund | — | — |
Schwab Fundamental International Large Company Index Fund | 2,634,472 | 37,210,664 |
Schwab Fundamental International Small Company Index Fund | 1,164,108 | 12,259,281 |
Schwab Fundamental Emerging Markets Large Company Index Fund | 1,359,404 | 10,119,254 |
Percentage | |
Schwab Fundamental US Large Company Index Fund | 68.93 |
Schwab Fundamental US Small Company Index Fund | 77.25 |
Schwab Fundamental International Large Company Index Fund | — |
Schwab Fundamental International Small Company Index Fund | — |
Schwab Fundamental Emerging Markets Large Company Index Fund | — |
Schwab Fundamental US Large Company Index Fund | $124,982,873 |
Schwab Fundamental US Small Company Index Fund | 16,883,023 |
Schwab Fundamental International Large Company Index Fund | 31,569,897 |
Schwab Fundamental International Small Company Index Fund | 7,533,950 |
Schwab Fundamental Emerging Markets Large Company Index Fund | 7,531,158 |
Schwab Fundamental US Large Company Index Fund | $82,222,528 |
Schwab Fundamental US Small Company Index Fund | 61,259,281 |
Schwab Fundamental International Large Company Index Fund | — |
Schwab Fundamental International Small Company Index Fund | — |
Schwab Fundamental Emerging Markets Large Company Index Fund | — |
1. | the nature, extent and quality of the services provided to the Funds under the Agreement, including the resources of CSIM and its affiliates dedicated to the Funds; |
2. | each Fund’s investment performance and how it compared to that of certain other comparable mutual funds; |
3. | each Fund’s expenses and how those expenses compared to those of certain other comparable mutual funds, exchange-traded funds and other accounts; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to CSIM and its affiliates; and |
5. | the extent to which economies of scale would be realized as the Funds grow and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor (Jan. 2009 – present). Formerly, Managing Director, Pacific Investment Management Company, LLC (PIMCO) and President, PIMCO Funds. | 108 | Director, PS Business Parks, Inc. (2005 – 2012) |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Fellow, The Hoover Institution at Stanford University (Oct. 1979 – present); Senior Fellow, Stanford Institute for Economic Policy Research (2000 – present); Professor of Public Policy, Stanford University (1994 – 2015). | 108 | Director, Gilead Sciences, Inc. (2005 – present) |
Stephen Timothy Kochis 1946 Trustee (Trustee of Schwab Strategic Trust since 2012; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | CEO and Owner, Kochis Global (wealth management consulting) (May 2012 – present); Chairman and CEO, Aspiriant, LLC (wealth management) (Jan. 2008 – Apr. 2012). | 108 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 108 | Director, Symantec Corporation (2003 – present) Director, Corcept Therapeutics Incorporated (2004 – present) Director, Adamas Pharmaceuticals, Inc. (2009 – present) |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. Executive Vice President and General Manager of Small Business Group, Intuit, Inc. (financial software and services firm for consumers and small businesses) (Dec. 2008 – Sept. 2013). | 108 | Director, KLA-Tencor Corporation (2008 – present) |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant, Patmore Management Consulting (management consulting) (2008 – present). | 108 | None |
Charles A. Ruffel 1956 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2015) | Co-Chief Executive Officer, Kudu Investment Management, LLC (financial services) (Jan. 2015 – present); Partner, Kudu Advisors, LLC (financial services) (June 2008 – Jan. 2015); Advisor, Asset International, Inc. (publisher of financial services information) (Aug. 2008 – Jan. 2015). | 108 | None |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Chairman, Chief Executive Officer and Founder of Smith Graham & Co. (investment advisors) (Mar. 1990 – present). | 108 | Director, Eaton (2012 – present) Director and Chairman of the Audit Committee, Oneok Partners LP (2003 – 2013) Director, Oneok, Inc. (2009 – 2013) Lead Independent Director, Board of Cooper Industries (2002 – 2012) |
Joseph H. Wender 1944 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Consultant, Goldman Sachs & Co., Inc. (investment banking and securities firm) (Jan. 2008 – present); Partner, Colgin Partners, LLC (vineyards) (Feb. 1998 – present). | 108 | Board Member and Chairman of the Audit Committee, Ionis Pharmaceuticals (1994 – present) Lead Independent Director and Chair of Audit Committee, OUTFRONT Media Inc. (2014 – present) |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Director, President and Chief Executive Officer, The Charles Schwab Corporation (Oct. 2008 – present); President and Chief Executive Officer (Oct. 2008 – present), Director (May 2008 – present), Charles Schwab & Co., Inc.; Director, Charles Schwab Bank (Apr. 2006 – present); and Director, Schwab Holdings, Inc. (May 2008 – present). | 108 | Director, The Charles Schwab Corporation (2008 – present) |
Marie A. Chandoha2 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; Trustee (Jan. 2016 – present), President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Jan. 2011 – present); Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (Mar. 2007 – Aug. 2010). | 108 | None |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Senior Executive Vice President and Chief Financial Officer, The Charles Schwab Corporation and Charles Schwab & Co., Inc. (July 2015 – present); Executive Vice President and Chief Financial Officer of The Charles Schwab Corporation and Charles Schwab & Co., Inc. (May 2007 – July 2015); Director, Charles Schwab & Co., Inc. (May 2007 – present); Director (Apr. 2010 – present) and Chief Executive Officer (July 2013 – Apr. 2015), Charles Schwab Bank; Director, Executive Vice President and Chief Financial Officer, Schwab Holdings, Inc. (May 2007 – present). | 108 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Marie A. Chandoha 1961 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2010) | Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; Trustee (Jan. 2016 – present), President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Jan. 2011 – present); Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (Mar. 2007 – Aug. 2010). |
Mark Fischer 1970 Treasurer and Chief Financial Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer, Schwab Funds, Laudus Funds and Schwab ETFs (Jan. 2016 – present); Assistant Treasurer, Schwab Funds and Laudus Funds (Dec. 2013 – Dec. 2015), Schwab ETFs (Nov. 2013 – Dec. 2015); Vice President, Charles Schwab Investment Management, Inc. (Oct. 2013 – present); Executive Director, J.P. Morgan Investor Services (Apr. 2011 – Sept. 2013); Assistant Treasurer, Massachusetts Financial Service Investment Management (May 2005 – Mar. 2011). |
Officers of the Trust (continued) | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
George Pereira 1964 Senior Vice President and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2004; Laudus Trust since 2006; Schwab Strategic Trust since 2009) | Senior Vice President and Chief Financial Officer (Nov. 2004 – present), Chief Operating Officer (Jan. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Operating Officer (Jan. 2016 – present), Treasurer and Chief Financial Officer, Laudus Funds (June 2006 – Dec. 2015); Treasurer and Principal Financial Officer, Schwab Funds (Nov. 2004 – Dec. 2015) and Schwab ETFs (Oct. 2009 – Dec. 2015); Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Apr. 2005 – present). |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies, Charles Schwab Investment Management, Inc. (Apr. 2011 – present); Senior Vice President and Chief Investment Officer – Equities, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Head of the Portfolio Management Group and Vice President of Portfolio Management, Financial Engines, Inc. (May 2009 – Apr. 2011); Head of Quantitative Equity, ING Investment Management (July 2004 – Jan. 2009). |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer – Fixed Income, Charles Schwab Investment Management, Inc. (Apr. 2011 – present); Senior Vice President and Chief Investment Officer – Fixed Income, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Senior Managing Director, Global Head of Active Fixed-Income Strategies, State Street Global Advisors (Jan. 2008 – Oct. 2010); Director of Alpha Strategies Loomis, Sayles & Company (Apr. 2006 – Jan. 2008). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President (Sept. 2011 – present), Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present), Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (Apr. 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk, Laudus Funds (Apr. 2011 – present); Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Vice President, Charles Schwab & Co., Inc., Charles Schwab Investment Management, Inc. (July 2005 – present); Vice President (Dec. 2005 – present), Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary, Schwab ETFs (Oct. 2009 – present). |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger, Ms. Chandoha, and Mr. Martinetto are Interested Trustees because they own stock of The Charles Schwab Corporation, the parent company of the investment adviser. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
THIS IS NOT PART OF THE SHAREHOLDER REPORT
INFORMATION.
INFORMATION.
Partnership
Member SIPC®
Printed on recycled paper.
1 | You could lose money by investing in a money market fund. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Effective October 14, 2016, all Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The money market fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time. |
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00186673
Table of Contents
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All Equity Portfolio™
Growth Portfolio™
Balanced Portfolio™
Conservative Portfolio™
Total Return for the 12 Months Ended October 31, 2016 | |
Schwab MarketTrack All Equity Portfolio (Ticker Symbol: SWEGX) | 3.99% |
All Equity Composite Index | 4.49% |
Fund Category: Morningstar Allocation—85%+ Equity | 1.59% |
Performance Details | pages 8-10 |
Schwab MarketTrack Growth Portfolio (Ticker Symbol: SWHGX) | 3.88% |
Growth Composite Index | 4.42% |
Fund Category: Morningstar Allocation—70% to 85% Equity | 2.43% |
Performance Details | pages 11-13 |
Schwab MarketTrack Balanced Portfolio (Ticker Symbol: SWBGX) | 3.92% |
Balanced Composite Index | 4.44% |
Fund Category: Morningstar Allocation—50% to 70% Equity | 2.75% |
Performance Details | pages 14-16 |
Schwab MarketTrack Conservative Portfolio (Ticker Symbol: SWCGX) | 3.68% |
Conservative Composite Index | 4.40% |
Fund Category: Morningstar Allocation—30% to 50% Equity | 3.53% |
Performance Details | pages 17-19 |
Minimum Initial Investment1 | $ 100 |
1 | Please see the funds’ prospectus for further detail and eligibility requirements. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g29907imge5d397e22.jpg)
President and CEO of
Charles Schwab Investment
Management, Inc. and the
funds covered in this report.
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g29907img20220d113.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g29907imga2981e824.jpg)
![]() | Zifan Tang, Ph.D., CFA, Managing Director, Senior Portfolio Manager, leads the portfolio management team and has overall responsibility for all aspects of the management of the funds. She was appointed portfolio manager of the funds in February 2012. Prior to joining CSIM in 2012, Ms. Tang was a product manager at Thomson Reuters and, from 1997 to 2009, worked as a portfolio manager at Barclays Global Investors, which was subsequently acquired by BlackRock. |
1 | Effective December 1, 2016, the name of the index was changed by the index provider. No other changes have occurred. |
Number of Holdings | 9 |
Portfolio Turnover Rate | 6% |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g29907img0143cc3f6.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g29907img983f8f1d7.jpg)
1 | This list is not a recommendation of any security by the investment adviser. |
2 | The holdings listed exclude any temporary liquidity investments. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g29907lg_2m31.jpg)
Portfolio and Inception Date | 1 Year | 5 Years | 10 Years |
Portfolio: Schwab MarketTrack All Equity Portfolio (5/19/98) | 3.99% | 10.17% | 4.81% |
All Equity Composite Index | 4.49% | 10.72% | 5.18% |
S&P 500® Index | 4.51% | 13.57% | 6.70% |
Fund Category: Morningstar Allocation—85%+ Equity | 1.59% | 9.16% | 4.30% |
Fund Expense Ratio3: 0.62% |
1 | Portfolio expenses have been partially absorbed by CSIM and its affiliates. Without these reductions, the portfolio’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the portfolio invests. The annualized weighted average expense ratio of the underlying funds was 0.21%. Reflects the total annual fund operating expenses without contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
1 | Effective December 1, 2016, the name of the index was changed by the index provider. No other changes have occurred. |
Number of Holdings | 12 |
Portfolio Turnover Rate | 12% |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g29907img675a31668.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g29907img1904b2fd9.jpg)
1 | This list is not a recommendation of any security by the investment adviser. |
2 | The holdings listed exclude any temporary liquidity investments. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g29907lg_2m28.jpg)
Portfolio and Inception Date | 1 Year | 5 Years | 10 Years |
Portfolio: Schwab MarketTrack Growth Portfolio (11/20/95) | 3.88% | 8.87% | 4.80% |
Growth Composite Index | 4.42% | 9.38% | 5.32% |
S&P 500® Index | 4.51% | 13.57% | 6.70% |
Fund Category: Morningstar Allocation—70% to 85% Equity | 2.43% | 7.91% | 4.32% |
Fund Expense Ratio3: 0.62% |
1 | Portfolio expenses have been partially absorbed by CSIM and its affiliates. Without these reductions, the portfolio’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the portfolio invests. The annualized weighted average expense ratio of the underlying funds was 0.21%. Reflects the total annual fund operating expenses without contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
1 | Effective December 1, 2016, the name of the index was changed by the index provider. No other changes have occurred. |
Number of Holdings | 13 |
Portfolio Turnover Rate | 15% |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g29907img53a7433810.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g29907imgae8342d011.jpg)
1 | This list is not a recommendation of any security by the investment adviser. |
2 | The holdings listed exclude any temporary liquidity investments. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g29907lg_2m29.jpg)
Portfolio and Inception Date | 1 Year | 5 Years | 10 Years |
Portfolio: Schwab MarketTrack Balanced Portfolio (11/20/95) | 3.92% | 7.23% | 4.43% |
Balanced Composite Index | 4.44% | 7.78% | 5.27% |
S&P 500® Index | 4.51% | 13.57% | 6.70% |
Bloomberg Barclays U.S. Aggregate Bond Index | 4.37% | 2.90% | 4.64% |
Fund Category: Morningstar Allocation—50% to 70% Equity | 2.75% | 7.36% | 4.76% |
Fund Expense Ratio3: 0.64% |
1 | Portfolio expenses have been partially absorbed by CSIM and its affiliates. Without these reductions, the portfolio’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the portfolio invests. The annualized weighted average expense ratio of the underlying funds was 0.23%. Reflects the total annual fund operating expenses without contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
1 | Effective December 1, 2016, the name of the index was changed by the index provider. No other changes have occurred. |
Number of Holdings | 13 |
Portfolio Turnover Rate | 10% |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g29907imgc74f6e4712.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g29907img04bceaff13.jpg)
1 | This list is not a recommendation of any security by the investment adviser. |
2 | The holdings listed exclude any temporary liquidity investments. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g29907lg_2m30.jpg)
Portfolio and Inception Date | 1 Year | 5 Years | 10 Years |
Portfolio: Schwab MarketTrack Conservative Portfolio (11/20/95) | 3.68% | 5.49% | 3.93% |
Conservative Composite Index | 4.40% | 6.13% | 5.11% |
S&P 500® Index | 4.51% | 13.57% | 6.70% |
Bloomberg Barclays U.S. Aggregate Bond Index | 4.37% | 2.90% | 4.64% |
Fund Category: Morningstar Allocation—30% to 50% Equity | 3.53% | 5.35% | 4.21% |
Fund Expense Ratio3: 0.66% |
1 | Portfolio expenses have been partially absorbed by CSIM and its affiliates. Without these reductions, the portfolio’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on portfolio distributions or the redemption of portfolio shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the portfolio invests. The annualized weighted average expense ratio of the underlying funds was 0.24%. Reflects the total annual fund operating expenses without contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
As a fund shareholder, you may incur two types of costs: (1) transaction costs, such as redemption fees; and (2) ongoing costs, including management fees, transfer agent and shareholder services fees, and other fund expenses.
Expense Ratio (Annualized)1 | Beginning Account Value at 5/1/16 | Ending Account Value (Net of Expenses) at 10/31/16 | Expenses Paid During Period 5/1/16-10/31/162 | |
Schwab MarketTrack All Equity Portfolio | ||||
Actual Return | 0.41% | $1,000.00 | $1,039.20 | $2.10 |
Hypothetical 5% Return | 0.41% | $1,000.00 | $1,023.04 | $2.08 |
Schwab MarketTrack Growth Portfolio | ||||
Actual Return | 0.40% | $1,000.00 | $1,033.20 | $2.04 |
Hypothetical 5% Return | 0.40% | $1,000.00 | $1,023.09 | $2.03 |
Schwab MarketTrack Balanced Portfolio | ||||
Actual Return | 0.40% | $1,000.00 | $1,027.80 | $2.04 |
Hypothetical 5% Return | 0.40% | $1,000.00 | $1,023.09 | $2.03 |
Schwab MarketTrack Conservative Portfolio | ||||
Actual Return | 0.43% | $1,000.00 | $1,021.80 | $2.19 |
Hypothetical 5% Return | 0.43% | $1,000.00 | $1,022.94 | $2.19 |
1 | Based on the most recent six-month expense ratio; may differ from the expense ratio provided in the Financial Highlights which covers a 12-month period. The expenses incurred by the underlying funds in which the portfolios invest are not included in this ratio. This ratio does not include certain non-routine expenses, such as proxy expenses. |
2 | Expenses for each portfolio are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by the 366 days of the fiscal year. |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $17.00 | $17.17 | $15.99 | $12.79 | $11.52 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.27 1 | 0.29 1 | 0.21 | 0.27 | 0.25 | |
Net realized and unrealized gains (losses) | 0.31 | (0.23) | 1.24 | 3.27 | 1.02 | |
Total from investment operations | 0.58 | 0.06 | 1.45 | 3.54 | 1.27 | |
Less distributions: | ||||||
Distributions from net investment income | (0.53) | (0.23) | (0.27) | (0.34) | — | |
Distributions from net realized gains | (1.15) | — | — | — | — | |
Total distributions | (1.68) | (0.23) | (0.27) | (0.34) | — | |
Net asset value at end of period | $15.90 | $17.00 | $17.17 | $15.99 | $12.79 | |
Total return | 3.99% | 0.36% | 9.12% | 28.37% | 11.02% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.41% | 0.42% 3 | 0.50% | 0.50% | 0.50% | |
Gross operating expenses2 | 0.42% | 0.43% 3 | 0.51% | 0.52% | 0.54% | |
Net investment income (loss) | 1.73% | 1.67% | 1.24% | 1.84% | 1.93% | |
Portfolio turnover rate | 6% | 42% 4 | 9% | 6% | 6% | |
Net assets, end of period (x 1,000,000) | $553 | $578 | $621 | $586 | $475 | |
Holdings by Category | Cost ($) | Value ($) | |
99.6% | Other Investment Companies | 403,364,414 | 550,784,157 |
0.5% | Short-Term Investment | 2,593,776 | 2,593,776 |
100.1% | Total Investments | 405,958,190 | 553,377,933 |
(0.1%) | Other Assets and Liabilities, Net | (317,380) | |
100.0% | Net Assets | 553,060,553 |
Security | Number of Shares | Value ($) |
Other Investment Companies 99.6% of net assets | ||
Equity Funds 99.6% | ||
International 30.1% | ||
Schwab Fundamental Emerging Markets Large Company Index Fund (a) | 3,607,099 | 28,351,795 |
Schwab Fundamental International Large Company Index Fund (a) | 4,235,015 | 33,710,716 |
Schwab Fundamental International Small Company Index Fund (a) | 2,349,239 | 28,026,415 |
Schwab International Index Fund (a) | 4,367,482 | 76,518,293 |
166,607,219 | ||
Large-Cap 44.9% | ||
Schwab Fundamental US Large Company Index Fund (a) | 4,955,852 | 74,932,482 |
Schwab S&P 500 Index Fund (a) | 5,196,744 | 173,467,312 |
248,399,794 | ||
Small-Cap 24.6% | ||
Schwab Fundamental US Small Company Index Fund (a) | 3,296,472 | 41,832,234 |
Schwab Small-Cap Index Fund (a) | 3,669,723 | 93,944,910 |
135,777,144 | ||
Total Other Investment Companies | ||
(Cost $403,364,414) | 550,784,157 |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.5% of net assets | ||
Time Deposit 0.5% | ||
Sumitomo Mitsui Banking Corp. | ||
0.15%, 11/01/16 (b) | 2,593,776 | 2,593,776 |
Total Short-Term Investment | ||
(Cost $2,593,776) | 2,593,776 |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the current daily overnight rate. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Other Investment Companies1 | $550,784,157 | $— | $— | $550,784,157 | |
Short-Term Investment1 | — | 2,593,776 | — | 2,593,776 | |
Total | $550,784,157 | $2,593,776 | $— | $553,377,933 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $403,364,414) | $550,784,157 | |
Investments in unaffiliated issuers, at value (cost $2,593,776) | + | 2,593,776 |
Total investments, at value (cost $405,958,190) | 553,377,933 | |
Receivables: | ||
Fund shares sold | 168,981 | |
Interest | 11 | |
Prepaid expenses | + | 12,041 |
Total assets | 553,558,966 | |
Liabilities | ||
Payables: | ||
Investment adviser and administrator fees | 67,245 | |
Shareholder service fees | 115,715 | |
Fund shares redeemed | 241,614 | |
Accrued expenses | + | 73,839 |
Total liabilities | 498,413 | |
Net Assets | ||
Total assets | 553,558,966 | |
Total liabilities | – | 498,413 |
Net assets | $553,060,553 | |
Net Assets by Source | ||
Capital received from investors | 398,246,118 | |
Net investment income not yet distributed | 3,775,232 | |
Net realized capital gains | 3,619,460 | |
Net unrealized capital appreciation | 147,419,743 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$553,060,553 | 34,789,262 | $15.90 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $11,782,741 | |
Interest | + | 2,797 |
Total investment income | 11,785,538 | |
Expenses | ||
Investment adviser and administrator fees | 712,967 | |
Shareholder service fees | 1,327,923 | |
Shareholder reports | 96,664 | |
Professional fees | 32,316 | |
Registration fees | 31,610 | |
Transfer agent fees | 23,909 | |
Portfolio accounting fees | 20,550 | |
Proxy fees | 19,368 | |
Independent trustees' fees | 11,220 | |
Custodian fees | 8,780 | |
Other expenses | + | 11,522 |
Total expenses | 2,296,829 | |
Expense reduction by CSIM and its affiliates | – | 23,909 |
Net expenses | – | 2,272,920 |
Net investment income | 9,512,618 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 10,828,658 | |
Net realized gains on sales of affiliated underlying funds | + | 5,258,638 |
Net realized gains | 16,087,296 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | (5,044,678) |
Net realized and unrealized gains | 11,042,618 | |
Increase in net assets resulting from operations | $20,555,236 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $9,512,618 | $10,111,116 | ||
Net realized gains | 16,087,296 | 72,260,737 | ||
Net change in unrealized appreciation (depreciation) | + | (5,044,678) | (79,060,989) | |
Increase in net assets from operations | 20,555,236 | 3,310,864 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (17,824,381) | (8,349,307) | ||
Distributions from net realized gains | + | (38,823,520) | — | |
Total distributions | ($56,647,901) | ($8,349,307) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 2,683,457 | $41,168,105 | 3,446,540 | $58,886,736 | ||||
Shares reinvested | 3,463,150 | 52,155,040 | 449,055 | 7,719,249 | ||||
Shares redeemed | + | (5,333,614) | (81,715,079) | (6,085,680) | (104,963,000) | |||
Net transactions in fund shares | 812,993 | $11,608,066 | (2,190,085) | ($38,357,015) | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 33,976,269 | $577,545,152 | 36,166,354 | $620,940,610 | ||||
Total increase or decrease | + | 812,993 | (24,484,599) | (2,190,085) | (43,395,458) | |||
End of period | 34,789,262 | $553,060,553 | 33,976,269 | $577,545,152 | ||||
Net investment income not yet distributed | $3,775,232 | $10,705,994 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $22.68 | $23.20 | $21.67 | $18.08 | $16.85 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.32 1 | 0.34 1 | 0.27 | 0.34 | 0.30 | |
Net realized and unrealized gains (losses) | 0.41 | (0.12) | 1.57 | 3.60 | 1.35 | |
Total from investment operations | 0.73 | 0.22 | 1.84 | 3.94 | 1.65 | |
Less distributions: | ||||||
Distributions from net investment income | (0.39) | (0.35) | (0.31) | (0.35) | (0.42) | |
Distributions from net realized gains | (2.48) | (0.39) | — | — | — | |
Total distributions | (2.87) | (0.74) | (0.31) | (0.35) | (0.42) | |
Net asset value at end of period | $20.54 | $22.68 | $23.20 | $21.67 | $18.08 | |
Total return | 3.88% | 0.95% | 8.55% | 22.14% | 10.03% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.41% | 0.42% 3 | 0.50% | 0.50% | 0.50% | |
Gross operating expenses2 | 0.41% | 0.42% 3 | 0.51% | 0.52% | 0.53% | |
Net investment income (loss) | 1.61% | 1.50% | 1.20% | 1.71% | 1.78% | |
Portfolio turnover rate | 12% | 36% 4 | 7% | 9% | 9% | |
Net assets, end of period (x 1,000,000) | $707 | $716 | $734 | $680 | $566 | |
Holdings by Category | Cost ($) | Value ($) | |
98.3% | Other Investment Companies | 481,190,629 | 695,272,520 |
1.7% | Short-Term Investments | 11,811,466 | 11,811,466 |
100.0% | Total Investments | 493,002,095 | 707,083,986 |
(0.0%) | Other Assets and Liabilities, Net | (264,389) | |
100.0% | Net Assets | 706,819,597 |
Security | Number of Shares | Value ($) |
Other Investment Companies 98.3% of net assets | ||
Equity Funds 80.0% | ||
International 20.1% | ||
Schwab Fundamental Emerging Markets Large Company Index Fund (a) | 3,147,610 | 24,740,214 |
Schwab Fundamental International Large Company Index Fund (a) | 3,553,251 | 28,283,882 |
Schwab Fundamental International Small Company Index Fund (a) | 1,983,160 | 23,659,102 |
Schwab International Index Fund (a) | 3,753,848 | 65,767,408 |
142,450,606 | ||
Large-Cap 40.1% | ||
Schwab Fundamental US Large Company Index Fund (a) | 5,622,155 | 85,006,983 |
Schwab S&P 500 Index Fund (a) | 5,944,233 | 198,418,501 |
283,425,484 | ||
Small-Cap 19.8% | ||
Schwab Fundamental US Small Company Index Fund (a) | 3,341,405 | 42,402,430 |
Schwab Small-Cap Index Fund (a) | 3,800,083 | 97,282,118 |
139,684,548 | ||
565,560,638 | ||
Security | Number of Shares | Value ($) |
Fixed-Income Fund 15.1% | ||
Intermediate-Term Bond 15.1% | ||
Schwab Total Bond Market Fund (a) | 11,044,481 | 106,579,240 |
Money Market Fund 3.2% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.52% (a)(b) | 23,123,393 | 23,132,642 |
Total Other Investment Companies | ||
(Cost $481,190,629) | 695,272,520 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 1.7% of net assets | ||
Time Deposits 1.7% | ||
BNP Paribas | ||
0.15%, 11/01/16 (c) | 4,745,171 | 4,745,171 |
Sumitomo Mitsui Banking Corp. | ||
0.15%, 11/01/16 (c) | 7,066,295 | 7,066,295 |
Total Short-Term Investments | ||
(Cost $11,811,466) | 11,811,466 |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the 7-day yield. |
(c) | The rate shown is the current daily overnight rate. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Other Investment Companies1 | $695,272,520 | $— | $— | $695,272,520 | |
Short-Term Investments1 | — | 11,811,466 | — | 11,811,466 | |
Total | $695,272,520 | $11,811,466 | $— | $707,083,986 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $481,190,629) | $695,272,520 | |
Investments in unaffiliated issuers, at value (cost $11,811,466) | + | 11,811,466 |
Total investments, at value (cost $493,002,095) | 707,083,986 | |
Receivables: | ||
Fund shares sold | 304,724 | |
Dividends | 187,963 | |
Interest | 49 | |
Prepaid expenses | + | 17,874 |
Total assets | 707,594,596 | |
Liabilities | ||
Payables: | ||
Investments bought | 183,226 | |
Investment adviser and administrator fees | 78,651 | |
Shareholder service fees | 148,592 | |
Fund shares redeemed | 280,444 | |
Accrued expenses | + | 84,086 |
Total liabilities | 774,999 | |
Net Assets | ||
Total assets | 707,594,596 | |
Total liabilities | – | 774,999 |
Net assets | $706,819,597 | |
Net Assets by Source | ||
Capital received from investors | 481,874,031 | |
Distributions in excess of net investment income | (99,779) | |
Net realized capital gains | 10,963,454 | |
Net unrealized capital appreciation | 214,081,891 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$706,819,597 | 34,414,635 | $20.54 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $14,066,183 | |
Interest | + | 16,461 |
Total investment income | 14,082,644 | |
Expenses | ||
Investment adviser and administrator fees | 909,253 | |
Shareholder service fees | 1,705,003 | |
Shareholder reports | 95,831 | |
Professional fees | 33,863 | |
Registration fees | 32,645 | |
Transfer agent fees | 24,083 | |
Portfolio accounting fees | 22,688 | |
Proxy fees | 18,839 | |
Independent trustees' fees | 12,118 | |
Custodian fees | 10,462 | |
Interest expense | 17 | |
Other expenses | + | 13,648 |
Total expenses | 2,878,450 | |
Expense reduction by CSIM and its affiliates | – | 24,083 |
Net expenses | – | 2,854,367 |
Net investment income | 11,228,277 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 11,331,486 | |
Net realized gains on sales of affiliated underlying funds | + | 4,257,598 |
Net realized gains | 15,589,084 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | 67,526 |
Net realized and unrealized gains | 15,656,610 | |
Increase in net assets resulting from operations | $26,884,887 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $11,228,277 | $11,047,675 | ||
Net realized gains | 15,589,084 | 80,068,911 | ||
Net change in unrealized appreciation (depreciation) | + | 67,526 | (84,004,658) | |
Increase in net assets from operations | 26,884,887 | 7,111,928 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (12,295,465) | (11,176,663) | ||
Distributions from net realized gains | + | (78,132,750) | (12,409,011) | |
Total distributions | ($90,428,215) | ($23,585,674) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 3,143,226 | $62,988,887 | 3,249,257 | $74,702,105 | ||||
Shares reinvested | 4,371,390 | 85,329,538 | 977,376 | 22,303,738 | ||||
Shares redeemed | + | (4,668,623) | (93,835,305) | (4,282,237) | (98,343,607) | |||
Net transactions in fund shares | 2,845,993 | $54,483,120 | (55,604) | ($1,337,764) | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 31,568,642 | $715,879,805 | 31,624,246 | $733,691,315 | ||||
Total increase or decrease | + | 2,845,993 | (9,060,208) | (55,604) | (17,811,510) | |||
End of period | 34,414,635 | $706,819,597 | 31,568,642 | $715,879,805 | ||||
Distributions in excess of net investment income | ($99,779) | ($522,853) |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $19.07 | $19.50 | $18.55 | $16.33 | $15.41 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.27 1 | 0.29 1 | 0.26 | 0.31 | 0.29 | |
Net realized and unrealized gains (losses) | 0.35 | (0.08) | 1.08 | 2.23 | 1.01 | |
Total from investment operations | 0.62 | 0.21 | 1.34 | 2.54 | 1.30 | |
Less distributions: | ||||||
Distributions from net investment income | (0.33) | (0.30) | (0.27) | (0.32) | (0.38) | |
Distributions from net realized gains | (2.01) | (0.34) | (0.12) | — | — | |
Total distributions | (2.34) | (0.64) | (0.39) | (0.32) | (0.38) | |
Net asset value at end of period | $17.35 | $19.07 | $19.50 | $18.55 | $16.33 | |
Total return | 3.92% | 1.10% | 7.28% | 15.82% | 8.61% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.41% | 0.42% 3 | 0.50% | 0.50% | 0.50% | |
Gross operating expenses2 | 0.41% | 0.42% 3 | 0.51% | 0.52% | 0.53% | |
Net investment income (loss) | 1.60% | 1.51% | 1.30% | 1.75% | 1.86% | |
Portfolio turnover rate | 15% | 36% 4 | 16% | 12% | 12% | |
Net assets, end of period (x 1,000,000) | $516 | $512 | $522 | $481 | $425 | |
Holdings by Category | Cost ($) | Value ($) | |
97.6% | Other Investment Companies | 378,568,727 | 503,540,531 |
2.4% | Short-Term Investments | 12,132,454 | 12,132,454 |
100.0% | Total Investments | 390,701,181 | 515,672,985 |
0.0% | Other Assets and Liabilities, Net | 176,267 | |
100.0% | Net Assets | 515,849,252 |
Security | Number of Shares | Value ($) |
Other Investment Companies 97.6% of net assets | ||
Equity Funds 59.9% | ||
International 15.2% | ||
Schwab Fundamental Emerging Markets Large Company Index Fund (a) | 1,694,518 | 13,318,915 |
Schwab Fundamental International Large Company Index Fund (a) | 1,971,662 | 15,694,431 |
Schwab Fundamental International Small Company Index Fund (a) | 1,090,979 | 13,015,383 |
Schwab International Index Fund (a) | 2,068,181 | 36,234,523 |
78,263,252 | ||
Large-Cap 30.0% | ||
Schwab Fundamental US Large Company Index Fund (a) | 3,063,991 | 46,327,539 |
Schwab S&P 500 Index Fund (a) | 3,245,716 | 108,342,004 |
154,669,543 | ||
Small-Cap 14.7% | ||
Schwab Fundamental US Small Company Index Fund (a) | 1,831,742 | 23,244,802 |
Schwab Small-Cap Index Fund (a) | 2,062,757 | 52,806,574 |
76,051,376 | ||
308,984,171 | ||
Fixed-Income Fund 35.0% | ||
Intermediate-Term Bond 35.0% | ||
Schwab Total Bond Market Fund (a) | 18,701,725 | 180,471,649 |
Security | Number of Shares | Value ($) |
Money Market Fund 2.7% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.52% (a)(b) | 14,079,080 | 14,084,711 |
Total Other Investment Companies | ||
(Cost $378,568,727) | 503,540,531 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 2.4% of net assets | ||
Time Deposits 2.4% | ||
Australia & New Zealand Banking Group Ltd. | ||
0.15%, 11/01/16 (c) | 1,822,780 | 1,822,780 |
BNP Paribas | ||
0.15%, 11/01/16 (c) | 5,154,837 | 5,154,837 |
Sumitomo Mitsui Banking Corp. | ||
0.15%, 11/01/16 (c) | 5,154,837 | 5,154,837 |
Total Short-Term Investments | ||
(Cost $12,132,454) | 12,132,454 |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the 7-day yield. |
(c) | The rate shown is the current daily overnight rate. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Other Investment Companies1 | $503,540,531 | $— | $— | $503,540,531 | |
Short-Term Investments1 | — | 12,132,454 | — | 12,132,454 | |
Total | $503,540,531 | $12,132,454 | $— | $515,672,985 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $378,568,727) | $503,540,531 | |
Investments in unaffiliated issuers, at value (cost $12,132,454) | + | 12,132,454 |
Total investments, at value (cost $390,701,181) | 515,672,985 | |
Receivables: | ||
Fund shares sold | 459,041 | |
Dividends | 347,229 | |
Interest | 51 | |
Prepaid expenses | + | 16,623 |
Total assets | 516,495,929 | |
Liabilities | ||
Payables: | ||
Investments bought | 310,357 | |
Investment adviser and administrator fees | 62,788 | |
Shareholder service fees | 108,387 | |
Fund shares redeemed | 111,966 | |
Accrued expenses | + | 53,179 |
Total liabilities | 646,677 | |
Net Assets | ||
Total assets | 516,495,929 | |
Total liabilities | – | 646,677 |
Net assets | $515,849,252 | |
Net Assets by Source | ||
Capital received from investors | 390,168,459 | |
Net investment income not yet distributed | 1,612,306 | |
Net realized capital losses | (903,317) | |
Net unrealized capital appreciation | 124,971,804 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$515,849,252 | 29,733,042 | $17.35 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $10,170,068 | |
Interest | + | 15,056 |
Total investment income | 10,185,124 | |
Expenses | ||
Investment adviser and administrator fees | 659,056 | |
Shareholder service fees | 1,237,798 | |
Shareholder reports | 52,795 | |
Professional fees | 31,614 | |
Registration fees | 31,364 | |
Portfolio accounting fees | 20,190 | |
Transfer agent fees | 18,815 | |
Independent trustees' fees | 10,963 | |
Proxy fees | 10,152 | |
Custodian fees | 8,732 | |
Other expenses | + | 8,066 |
Total expenses | 2,089,545 | |
Expense reduction by CSIM and its affiliates | – | 18,815 |
Net expenses | – | 2,070,730 |
Net investment income | 8,114,394 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 6,023,574 | |
Net realized gains on sales of affiliated underlying funds | + | 1,591,034 |
Net realized gains | 7,614,608 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | 3,868,814 |
Net realized and unrealized gains | 11,483,422 | |
Increase in net assets resulting from operations | $19,597,816 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $8,114,394 | $7,889,972 | ||
Net realized gains | 7,614,608 | 53,380,503 | ||
Net change in unrealized appreciation (depreciation) | + | 3,868,814 | (55,491,706) | |
Increase in net assets from operations | 19,597,816 | 5,778,769 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (8,833,869) | (7,938,877) | ||
Distributions from net realized gains | + | (53,151,015) | (8,928,300) | |
Total distributions | ($61,984,884) | ($16,867,177) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 5,422,348 | $90,844,158 | 5,459,344 | $104,614,248 | ||||
Shares reinvested | 3,496,216 | 57,722,533 | 823,113 | 15,729,696 | ||||
Shares redeemed | + | (6,040,389) | (102,580,180) | (6,192,938) | (118,872,279) | |||
Net transactions in fund shares | 2,878,175 | $45,986,511 | 89,519 | $1,471,665 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 26,854,867 | $512,249,809 | 26,765,348 | $521,866,552 | ||||
Total increase or decrease | + | 2,878,175 | 3,599,443 | 89,519 | (9,616,743) | |||
End of period | 29,733,042 | $515,849,252 | 26,854,867 | $512,249,809 | ||||
Net investment income not yet distributed | $1,612,306 | $1,540,404 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $15.94 | $16.00 | $15.34 | $14.23 | $13.59 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.24 1 | 0.25 1 | 0.23 | 0.26 | 0.26 | |
Net realized and unrealized gains (losses) | 0.30 | (0.05) | 0.67 | 1.10 | 0.69 | |
Total from investment operations | 0.54 | 0.20 | 0.90 | 1.36 | 0.95 | |
Less distributions: | ||||||
Distributions from net investment income | (0.27) | (0.26) | (0.24) | (0.25) | (0.31) | |
Distributions from net realized gains | (0.90) | — | — | — | — | |
Total distributions | (1.17) | (0.26) | (0.24) | (0.25) | (0.31) | |
Net asset value at end of period | $15.31 | $15.94 | $16.00 | $15.34 | $14.23 | |
Total return | 3.68% | 1.23% | 5.95% | 9.71% | 7.07% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.43% | 0.43% 3 | 0.50% | 0.50% | 0.50% | |
Gross operating expenses2 | 0.44% | 0.44% 3 | 0.54% | 0.55% | 0.55% | |
Net investment income (loss) | 1.61% | 1.54% | 1.43% | 1.78% | 1.96% | |
Portfolio turnover rate | 10% | 24% 4 | 9% | 15% | 19% | |
Net assets, end of period (x 1,000,000) | $238 | $228 | $223 | $203 | $189 | |
Holdings by Category | Cost ($) | Value ($) | |
97.5% | Other Investment Companies | 190,182,396 | 232,013,084 |
2.5% | Short-Term Investments | 6,085,567 | 6,085,567 |
100.0% | Total Investments | 196,267,963 | 238,098,651 |
(0.0%) | Other Assets and Liabilities, Net | (109,499) | |
100.0% | Net Assets | 237,989,152 |
Security | Number of Shares | Value ($) |
Other Investment Companies 97.5% of net assets | ||
Equity Funds 40.0% | ||
International 10.0% | ||
Schwab Fundamental Emerging Markets Large Company Index Fund (a) | 509,672 | 4,006,020 |
Schwab Fundamental International Large Company Index Fund (a) | 593,139 | 4,721,390 |
Schwab Fundamental International Small Company Index Fund (a) | 336,405 | 4,013,308 |
Schwab International Index Fund (a) | 628,667 | 11,014,241 |
23,754,959 | ||
Large-Cap 20.0% | ||
Schwab Fundamental US Large Company Index Fund (a) | 940,789 | 14,224,732 |
Schwab S&P 500 Index Fund (a) | 1,001,572 | 33,432,470 |
47,657,202 | ||
Small-Cap 10.0% | ||
Schwab Fundamental US Small Company Index Fund (a) | 577,750 | 7,331,652 |
Schwab Small-Cap Index Fund (a) | 637,089 | 16,309,473 |
23,641,125 | ||
95,053,286 | ||
Fixed-Income Fund 55.2% | ||
Intermediate-Term Bond 55.2% | ||
Schwab Total Bond Market Fund (a) | 13,621,970 | 131,452,009 |
Security | Number of Shares | Value ($) |
Money Market Fund 2.3% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.52% (a)(b) | 5,505,587 | 5,507,789 |
Total Other Investment Companies | ||
(Cost $190,182,396) | 232,013,084 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 2.5% of net assets | ||
Time Deposits 2.5% | ||
ING Bank | ||
0.15%, 11/01/16 (c) | 2,383,129 | 2,383,128 |
Skandinaviska Enskilda Banken | ||
0.15%, 11/01/16 (c) | 1,319,310 | 1,319,310 |
Sumitomo Mitsui Banking Corp. | ||
0.15%, 11/01/16 (c) | 2,383,129 | 2,383,129 |
Total Short-Term Investments | ||
(Cost $6,085,567) | 6,085,567 |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the 7-day yield. |
(c) | The rate shown is the current daily overnight rate. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Other Investment Companies1 | $232,013,084 | $— | $— | $232,013,084 | |
Short-Term Investments1 | — | 6,085,567 | — | 6,085,567 | |
Total | $232,013,084 | $6,085,567 | $— | $238,098,651 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $190,182,396) | $232,013,084 | |
Investments in unaffiliated issuers, at value (cost $6,085,567) | + | 6,085,567 |
Total investments, at value (cost $196,267,963) | 238,098,651 | |
Receivables: | ||
Dividends | 250,290 | |
Fund shares sold | 96,140 | |
Interest | 25 | |
Prepaid expenses | + | 14,170 |
Total assets | 238,459,276 | |
Liabilities | ||
Payables: | ||
Investments bought | 224,572 | |
Investment adviser and administrator fees | 33,108 | |
Shareholder service fees | 50,045 | |
Fund shares redeemed | 128,425 | |
Accrued expenses | + | 33,974 |
Total liabilities | 470,124 | |
Net Assets | ||
Total assets | 238,459,276 | |
Total liabilities | – | 470,124 |
Net assets | $237,989,152 | |
Net Assets by Source | ||
Capital received from investors | 200,948,078 | |
Net investment income not yet distributed | 193,139 | |
Net realized capital losses | (4,982,753) | |
Net unrealized capital appreciation | 41,830,688 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$237,989,152 | 15,542,364 | $15.31 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $4,661,072 | |
Interest | + | 7,983 |
Total investment income | 4,669,055 | |
Expenses | ||
Investment adviser and administrator fees | 297,871 | |
Shareholder service fees | 563,768 | |
Shareholder reports | 28,524 | |
Professional fees | 28,453 | |
Registration fees | 26,352 | |
Portfolio accounting fees | 16,514 | |
Transfer agent fees | 14,675 | |
Independent trustees' fees | 9,306 | |
Custodian fees | 5,065 | |
Proxy fees | 4,048 | |
Other expenses | + | 3,583 |
Total expenses | 998,159 | |
Expense reduction by CSIM and its affiliates | – | 14,675 |
Net expenses | – | 983,484 |
Net investment income | 3,685,571 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 1,810,448 | |
Net realized gains on sales of affiliated underlying funds | + | 310,262 |
Net realized gains | 2,120,710 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | + | 2,559,754 |
Net realized and unrealized gains | 4,680,464 | |
Increase in net assets resulting from operations | $8,366,035 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $3,685,571 | $3,508,549 | ||
Net realized gains | 2,120,710 | 14,576,050 | ||
Net change in unrealized appreciation (depreciation) | + | 2,559,754 | (15,531,464) | |
Increase in net assets from operations | 8,366,035 | 2,553,135 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (3,884,346) | (3,590,423) | ||
Distributions from net realized gains | + | (12,777,507) | — | |
Total distributions | ($16,661,853) | ($3,590,423) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 3,067,103 | $46,365,503 | 2,432,532 | $39,115,068 | ||||
Shares reinvested | 1,032,463 | 15,174,842 | 207,359 | 3,310,268 | ||||
Shares redeemed | + | (2,836,646) | (42,848,228) | (2,319,449) | (37,207,806) | |||
Net transactions in fund shares | 1,262,920 | $18,692,117 | 320,442 | $5,217,530 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 14,279,444 | $227,592,853 | 13,959,002 | $223,412,611 | ||||
Total increase | + | 1,262,920 | 10,396,299 | 320,442 | 4,180,242 | |||
End of period | 15,542,364 | $237,989,152 | 14,279,444 | $227,592,853 | ||||
Net investment income not yet distributed | $193,139 | $154,755 |
SCHWAB CAPITAL TRUST (ORGANIZED MAY 7, 1993) | |
Schwab MarketTrack All Equity Portfolio | Schwab Target 2045 Fund |
Schwab MarketTrack Growth Portfolio | Schwab Target 2050 Fund |
Schwab MarketTrack Balanced Portfolio | Schwab Target 2055 Fund |
Schwab MarketTrack Conservative Portfolio | Schwab Target 2060 Fund |
Schwab ® S&P 500 Index Fund | Schwab Fundamental US Large Company Index Fund |
Schwab Small-Cap Index Fund® | Schwab Fundamental US Small Company Index Fund |
Schwab Total Stock Market Index Fund® | Schwab Fundamental International Large Company Index Fund |
Schwab International Index Fund® | Schwab Fundamental International Small Company Index Fund |
Laudus Small-Cap MarketMasters Fund™ | Schwab Fundamental Emerging Markets Large Company Index Fund |
Laudus International MarketMasters Fund™ | Schwab Fundamental Global Real Estate Index Fund |
Schwab Balanced Fund™ | Schwab Target 2010 Index Fund |
Schwab Core Equity Fund™ | Schwab Target 2015 Index Fund |
Schwab Dividend Equity Fund™ | Schwab Target 2020 Index Fund |
Schwab Large-Cap Growth Fund™ | Schwab Target 2025 Index Fund |
Schwab Small-Cap Equity Fund™ | Schwab Target 2030 Index Fund |
Schwab Hedged Equity Fund™ | Schwab Target 2035 Index Fund |
Schwab Health Care Fund™ | Schwab Target 2040 Index Fund |
Schwab ® International Core Equity Fund | Schwab Target 2045 Index Fund |
Schwab Target 2010 Fund | Schwab Target 2050 Index Fund |
Schwab Target 2015 Fund | Schwab Target 2055 Index Fund |
Schwab Target 2020 Fund | Schwab Target 2060 Index Fund |
Schwab Target 2025 Fund | Schwab ® Monthly Income Fund - Moderate Payout |
Schwab Target 2030 Fund | Schwab ® Monthly Income Fund - Enhanced Payout |
Schwab Target 2035 Fund | Schwab ® Monthly Income Fund - Maximum Payout |
Schwab Target 2040 Fund |
2. Significant Accounting Policies:
3. Risk Factors:
4. Affiliates and Affiliated Transactions:
Schwab MarketTrack All Equity Portfolio | Schwab MarketTrack Growth Portfolio | Schwab MarketTrack Balanced Portfolio | Schwab MarketTrack Conservative Portfolio |
0.50% | 0.50% | 0.50% | 0.50% |
Underlying Funds | Schwab MarketTrack All Equity Portfolio | Schwab MarketTrack Growth Portfolio | Schwab MarketTrack Balanced Portfolio | Schwab MarketTrack Conservative Portfolio |
Schwab Fundamental Emerging Markets Large Company Index Fund | 8.4% | 7.4% | 4.0% | 1.2% |
Schwab Fundamental International Large Company Index Fund | 3.5% | 2.9% | 1.6% | 0.5% |
Schwab Fundamental International Small Company Index Fund | 5.9% | 5.0% | 2.7% | 0.8% |
Schwab International Index Fund | 2.6% | 2.3% | 1.2% | 0.4% |
Schwab Fundamental US Large Company Index Fund | 1.6% | 1.9% | 1.0% | 0.3% |
Schwab S&P 500 Index Fund | 0.8% | 0.9% | 0.5% | 0.1% |
Schwab Fundamental US Small Company Index Fund | 3.1% | 3.1% | 1.7% | 0.5% |
Schwab Small-Cap Index Fund | 3.6% | 3.7% | 2.0% | 0.6% |
Schwab Total Bond Market Fund | —% | 7.7% | 13.0% | 9.5% |
Schwab Variable Share Price Money Fund, Ultra Shares | —% | 5.4% | 3.3% | 1.3% |
Underlying Funds | Balance of Shares Held at 10/31/15 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/16 | Market Value at 10/31/16 | Realized Gains (Losses) 11/01/15 to 10/31/16 | Distributions Received* 11/01/15 to 10/31/16 | ||
Schwab Fundamental Emerging Markets Large Company Index Fund | 3,907,265 | 421,656 | (721,822) | 3,607,099 | $28,351,795 | ($418,205) | $766,381 | ||
Schwab Fundamental International Large Company Index Fund | 4,235,560 | 238,554 | (239,099) | 4,235,015 | 33,710,716 | (117,560) | 951,296 | ||
Schwab Fundamental International Small Company Index Fund | 2,571,858 | 83,283 | (305,902) | 2,349,239 | 28,026,415 | 80,648 | 582,392 | ||
Schwab Fundamental US Large Company Index Fund | 5,149,167 | 378,853 | (572,168) | 4,955,852 | 74,932,482 | (307,680) | 4,099,365 | ||
Schwab Fundamental US Small Company Index Fund | 3,391,816 | 333,961 | (429,305) | 3,296,472 | 41,832,234 | (240,685) | 2,465,229 | ||
Schwab International Index Fund | 4,318,720 | 226,478 | (177,716) | 4,367,482 | 76,518,293 | (79,988) | 2,061,017 | ||
Schwab S&P 500 Index Fund | 5,562,139 | 176,240 | (541,635) | 5,196,744 | 173,467,312 | 4,630,810 | 5,496,919 | ||
Schwab Small-Cap Index Fund | 3,810,827 | 404,358 | (545,462) | 3,669,723 | 93,944,910 | 1,711,298 | 6,188,800 | ||
Total | $550,784,157 | $5,258,638 | $22,611,399 |
Underlying Funds | Balance of Shares Held at 10/31/15 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/16 | Market Value at 10/31/16 | Realized Gains (Losses) 11/01/15 to 10/31/16 | Distributions Received* 11/01/15 to 10/31/16 | ||
Schwab Fundamental Emerging Markets Large Company Index Fund | 3,155,206 | 299,968 | (307,564) | 3,147,610 | $24,740,214 | ($175,922) | $621,774 | ||
Schwab Fundamental International Large Company Index Fund | 3,543,745 | 175,366 | (165,860) | 3,553,251 | 28,283,882 | (43,552) | 784,231 | ||
Schwab Fundamental International Small Company Index Fund | 2,129,293 | 45,112 | (191,245) | 1,983,160 | 23,659,102 | 140,419 | 486,756 | ||
Schwab Fundamental US Large Company Index Fund | 5,666,998 | 363,570 | (408,413) | 5,622,155 | 85,006,983 | (89,439) | 4,513,197 | ||
Schwab Fundamental US Small Company Index Fund | 3,358,509 | 388,042 | (405,146) | 3,341,405 | 42,402,430 | (49,657) | 2,445,941 | ||
Schwab International Index Fund | 3,668,131 | 215,056 | (129,339) | 3,753,848 | 65,767,408 | (23,048) | 1,747,204 | ||
Schwab S&P 500 Index Fund | 6,100,571 | 237,687 | (394,025) | 5,944,233 | 198,418,501 | 3,313,546 | 6,112,162 | ||
Schwab Small-Cap Index Fund | 3,838,509 | 491,398 | (529,824) | 3,800,083 | 97,282,118 | 1,199,621 | 6,292,382 | ||
Schwab Total Bond Market Fund | 11,289,832 | 939,383 | (1,184,734) | 11,044,481 | 106,579,240 | (14,370) | 2,321,656 | ||
Schwab Value Advantage Money Fund, Ultra Shares | 11,056,954 | 12,011,437 | (23,068,391) | — | — | — | 12,618 | ||
Schwab Variable Share Price Money Fund, Ultra Shares | — | 23,123,393 | — | 23,123,393 | 23,132,642 | — | 59,748 | ||
Total | $695,272,520 | $4,257,598 | $25,397,669 |
Underlying Funds | Balance of Shares Held at 10/31/15 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/16 | Market Value at 10/31/16 | Realized Gains (Losses) 11/01/15 to 10/31/16 | Distributions Received* 11/01/15 to 10/31/16 | ||
Schwab Fundamental Emerging Markets Large Company Index Fund | 1,614,627 | 274,950 | (195,059) | 1,694,518 | $13,318,915 | ($215,901) | $314,451 | ||
Schwab Fundamental International Large Company Index Fund | 1,903,457 | 261,633 | (193,428) | 1,971,662 | 15,694,431 | (89,729) | 416,675 | ||
Schwab Fundamental International Small Company Index Fund | 1,140,007 | 161,964 | (210,992) | 1,090,979 | 13,015,383 | 20,214 | 257,776 | ||
Schwab Fundamental US Large Company Index Fund | 3,037,893 | 443,135 | (417,037) | 3,063,991 | 46,327,539 | (208,075) | 2,393,420 | ||
Schwab Fundamental US Small Company Index Fund | 1,801,386 | 410,136 | (379,780) | 1,831,742 | 23,244,802 | (282,160) | 1,295,495 | ||
Schwab International Index Fund | 1,978,586 | 248,452 | (158,857) | 2,068,181 | 36,234,523 | 37,234 | 928,789 | ||
Schwab S&P 500 Index Fund | 3,278,113 | 393,496 | (425,893) | 3,245,716 | 108,342,004 | 1,622,950 | 3,242,801 | ||
Schwab Small-Cap Index Fund | 2,062,479 | 384,768 | (384,490) | 2,062,757 | 52,806,574 | 642,332 | 3,356,202 | ||
Schwab Total Bond Market Fund | 18,903,171 | 2,005,620 | (2,207,066) | 18,701,725 | 180,471,649 | 64,169 | 3,943,521 | ||
Schwab Value Advantage Money Fund, Ultra Shares | 8,038,114 | 6,007,476 | (14,045,590) | — | — | — | 8,133 | ||
Schwab Variable Share Price Money Fund, Ultra Shares | — | 14,079,080 | — | 14,079,080 | 14,084,711 | — | 36,379 | ||
Total | $503,540,531 | $1,591,034 | $16,193,642 |
Underlying Funds | Balance of Shares Held at 10/31/15 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/16 | Market Value at 10/31/16 | Realized Gains (Losses) 11/01/15 to 10/31/16 | Distributions Received* 11/01/15 to 10/31/16 | ||
Schwab Fundamental Emerging Markets Large Company Index Fund | 432,696 | 91,495 | (14,519) | 509,672 | $4,006,020 | ($13,632) | $84,608 | ||
Schwab Fundamental International Large Company Index Fund | 554,331 | 60,475 | (21,667) | 593,139 | 4,721,390 | (7,038) | 123,446 | ||
Schwab Fundamental International Small Company Index Fund | 337,593 | 29,173 | (30,361) | 336,405 | 4,013,308 | 11,636 | 76,981 | ||
Schwab Fundamental US Large Company Index Fund | 899,135 | 113,600 | (71,946) | 940,789 | 14,224,732 | (12,807) | 715,071 | ||
Schwab Fundamental US Small Company Index Fund | 532,697 | 104,838 | (59,785) | 577,750 | 7,331,652 | (12,999) | 387,536 | ||
Schwab International Index Fund | 597,598 | 96,188 | (65,119) | 628,667 | 11,014,241 | 7,236 | 278,700 | ||
Schwab S&P 500 Index Fund | 974,586 | 118,129 | (91,143) | 1,001,572 | 33,432,470 | 303,358 | 969,836 | ||
Schwab Small-Cap Index Fund | 612,939 | 116,933 | (92,783) | 637,089 | 16,309,473 | 84,365 | 1,015,649 | ||
Schwab Total Bond Market Fund | 13,196,228 | 1,276,445 | (850,703) | 13,621,970 | 131,452,009 | (49,857) | 2,802,167 | ||
Schwab Value Advantage Money Fund, Ultra Shares | 3,489,431 | 2,003,060 | (5,492,491) | — | — | — | 3,300 | ||
Schwab Variable Share Price Money Fund, Ultra Shares | — | 5,505,587 | — | 5,505,587 | 5,507,789 | — | 14,226 | ||
Total | $232,013,084 | $310,262 | $6,471,520 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
5. Board of Trustees:
6. Borrowing from Banks:
Purchases of Securities | Sales/Maturities of Securities | |
Schwab MarketTrack All Equity Portfolio | $33,311,399 | $57,457,000 |
Schwab MarketTrack Growth Portfolio | 79,614,063 | 79,798,390 |
Schwab MarketTrack Balanced Portfolio | 80,031,575 | 76,635,590 |
Schwab MarketTrack Conservative Portfolio | 31,792,889 | 22,362,491 |
8. Redemption Fee:
Current Period (11/1/15-10/31/16) | Prior Period (11/1/14-10/31/15) | |
Schwab MarketTrack All Equity Portfolio | $5,050 | $10,890 |
Schwab MarketTrack Growth Portfolio | 8,705 | 5,446 |
Schwab MarketTrack Balanced Portfolio | 11,924 | 13,097 |
Schwab MarketTrack Conservative Portfolio | 2,739 | 1,921 |
9. Federal Income Taxes:
Schwab MarketTrack All Equity Portfolio | Schwab MarketTrack Growth Portfolio | Schwab MarketTrack Balanced Portfolio | Schwab MarketTrack Conservative Portfolio | ||||
Undistributed ordinary income | $4,368,657 | $1,405,401 | $2,886,999 | $441,632 | |||
Undistributed long-term capital gains | 14,459,368 | 12,834,189 | 6,103,181 | 1,625,492 | |||
Unrealized appreciation on investments | 135,986,410 | 210,805,755 | 116,690,613 | 34,973,950 | |||
Net unrealized appreciation (depreciation) | $135,986,410 | $210,805,755 | $116,690,613 | $34,973,950 |
Schwab MarketTrack All Equity Portfolio | Schwab MarketTrack Growth Portfolio | Schwab MarketTrack Balanced Portfolio | Schwab MarketTrack Conservative Portfolio | |
Late-year ordinary losses deferred | $— | $99,779 | $— | $— |
Capital loss carryforwards utilized | — | — | — | — |
Schwab MarketTrack All Equity Portfolio | Schwab MarketTrack Growth Portfolio | Schwab MarketTrack Balanced Portfolio | Schwab MarketTrack Conservative Portfolio | |
Current period distributions | ||||
Ordinary income | $17,824,381 | $12,295,465 | $9,353,819 | $3,884,346 |
Long-term capital gains | 38,823,520 | 78,132,750 | 52,631,065 | 12,777,507 |
Prior period distributions | ||||
Ordinary income | $8,349,307 | $11,176,663 | $9,693,210 | $3,590,423 |
Long-term capital gains | — | 12,409,011 | 7,173,967 | — |
Schwab MarketTrack All Equity Portfolio | Schwab MarketTrack Growth Portfolio | Schwab MarketTrack Balanced Portfolio | Schwab MarketTrack Conservative Portfolio | |
Capital shares | $— | $— | $— | $— |
Undistributed net investment income | 1,381,001 | 1,490,262 | 791,377 | 237,159 |
Net realized capital gains (losses) | (1,381,001) | (1,490,262) | (791,377) | (237,159) |
10. Recent Regulatory Development:
11. Subsequent Events:
Schwab MarketTrack All Equity Portfolio
Schwab MarketTrack Growth Portfolio
Schwab MarketTrack Balanced Portfolio
Schwab MarketTrack Conservative Portfolio
San Francisco, California
December 16, 2016
Percentage | |
Schwab MarketTrack All Equity Portfolio | 57.14 |
Schwab MarketTrack Growth Portfolio | 52.65 |
Schwab MarketTrack Balanced Portfolio | 37.73 |
Schwab MarketTrack Conservative Portfolio | 27.47 |
Schwab MarketTrack All Equity Portfolio | $17,382,899 |
Schwab MarketTrack Growth Portfolio | 9,696,327 |
Schwab MarketTrack Balanced Portfolio | 5,351,853 |
Schwab MarketTrack Conservative Portfolio | 1,592,589 |
Schwab MarketTrack All Equity Portfolio | $38,823,520 |
Schwab MarketTrack Growth Portfolio | 78,132,750 |
Schwab MarketTrack Balanced Portfolio | 52,631,065 |
Schwab MarketTrack Conservative Portfolio | 12,777,507 |
1. | the nature, extent and quality of the services provided to the Funds under the Agreement, including the resources of CSIM and its affiliates dedicated to the Funds; |
2. | each Fund’s investment performance and how it compared to that of certain other comparable mutual funds; |
3. | each Fund’s expenses and how those expenses compared to those of certain other comparable mutual funds, exchange-traded funds and other accounts; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to CSIM and its affiliates; and |
5. | the extent to which economies of scale would be realized as the Funds grow and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor (Jan. 2009 – present). Formerly, Managing Director, Pacific Investment Management Company, LLC (PIMCO) and President, PIMCO Funds. | 108 | Director, PS Business Parks, Inc. (2005 – 2012) |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Fellow, The Hoover Institution at Stanford University (Oct. 1979 – present); Senior Fellow, Stanford Institute for Economic Policy Research (2000 – present); Professor of Public Policy, Stanford University (1994 – 2015). | 108 | Director, Gilead Sciences, Inc. (2005 – present) |
Stephen Timothy Kochis 1946 Trustee (Trustee of Schwab Strategic Trust since 2012; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | CEO and Owner, Kochis Global (wealth management consulting) (May 2012 – present); Chairman and CEO, Aspiriant, LLC (wealth management) (Jan. 2008 – Apr. 2012). | 108 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 108 | Director, Symantec Corporation (2003 – present) Director, Corcept Therapeutics Incorporated (2004 – present) Director, Adamas Pharmaceuticals, Inc. (2009 – present) |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. Executive Vice President and General Manager of Small Business Group, Intuit, Inc. (financial software and services firm for consumers and small businesses) (Dec. 2008 – Sept. 2013). | 108 | Director, KLA-Tencor Corporation (2008 – present) |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant, Patmore Management Consulting (management consulting) (2008 – present). | 108 | None |
Charles A. Ruffel 1956 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2015) | Co-Chief Executive Officer, Kudu Investment Management, LLC (financial services) (Jan. 2015 – present); Partner, Kudu Advisors, LLC (financial services) (June 2008 – Jan. 2015); Advisor, Asset International, Inc. (publisher of financial services information) (Aug. 2008 – Jan. 2015). | 108 | None |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Chairman, Chief Executive Officer and Founder of Smith Graham & Co. (investment advisors) (Mar. 1990 – present). | 108 | Director, Eaton (2012 – present) Director and Chairman of the Audit Committee, Oneok Partners LP (2003 – 2013) Director, Oneok, Inc. (2009 – 2013) Lead Independent Director, Board of Cooper Industries (2002 – 2012) |
Joseph H. Wender 1944 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Consultant, Goldman Sachs & Co., Inc. (investment banking and securities firm) (Jan. 2008 – present); Partner, Colgin Partners, LLC (vineyards) (Feb. 1998 – present). | 108 | Board Member and Chairman of the Audit Committee, Ionis Pharmaceuticals (1994 – present) Lead Independent Director and Chair of Audit Committee, OUTFRONT Media Inc. (2014 – present) |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Director, President and Chief Executive Officer, The Charles Schwab Corporation (Oct. 2008 – present); President and Chief Executive Officer (Oct. 2008 – present), Director (May 2008 – present), Charles Schwab & Co., Inc.; Director, Charles Schwab Bank (Apr. 2006 – present); and Director, Schwab Holdings, Inc. (May 2008 – present). | 108 | Director, The Charles Schwab Corporation (2008 – present) |
Marie A. Chandoha2 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; Trustee (Jan. 2016 – present), President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Jan. 2011 – present); Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (Mar. 2007 – Aug. 2010). | 108 | None |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Senior Executive Vice President and Chief Financial Officer, The Charles Schwab Corporation and Charles Schwab & Co., Inc. (July 2015 – present); Executive Vice President and Chief Financial Officer of The Charles Schwab Corporation and Charles Schwab & Co., Inc. (May 2007 – July 2015); Director, Charles Schwab & Co., Inc. (May 2007 – present); Director (Apr. 2010 – present) and Chief Executive Officer (July 2013 – Apr. 2015), Charles Schwab Bank; Director, Executive Vice President and Chief Financial Officer, Schwab Holdings, Inc. (May 2007 – present). | 108 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Marie A. Chandoha 1961 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2010) | Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; Trustee (Jan. 2016 – present), President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Jan. 2011 – present); Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (Mar. 2007 – Aug. 2010). |
Mark Fischer 1970 Treasurer and Chief Financial Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer, Schwab Funds, Laudus Funds and Schwab ETFs (Jan. 2016 – present); Assistant Treasurer, Schwab Funds and Laudus Funds (Dec. 2013 – Dec. 2015), Schwab ETFs (Nov. 2013 – Dec. 2015); Vice President, Charles Schwab Investment Management, Inc. (Oct. 2013 – present); Executive Director, J.P. Morgan Investor Services (Apr. 2011 – Sept. 2013); Assistant Treasurer, Massachusetts Financial Service Investment Management (May 2005 – Mar. 2011). |
Officers of the Trust (continued) | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
George Pereira 1964 Senior Vice President and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2004; Laudus Trust since 2006; Schwab Strategic Trust since 2009) | Senior Vice President and Chief Financial Officer (Nov. 2004 – present), Chief Operating Officer (Jan. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Operating Officer (Jan. 2016 – present), Treasurer and Chief Financial Officer, Laudus Funds (June 2006 – Dec. 2015); Treasurer and Principal Financial Officer, Schwab Funds (Nov. 2004 – Dec. 2015) and Schwab ETFs (Oct. 2009 – Dec. 2015); Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Apr. 2005 – present). |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies, Charles Schwab Investment Management, Inc. (Apr. 2011 – present); Senior Vice President and Chief Investment Officer – Equities, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Head of the Portfolio Management Group and Vice President of Portfolio Management, Financial Engines, Inc. (May 2009 – Apr. 2011); Head of Quantitative Equity, ING Investment Management (July 2004 – Jan. 2009). |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer – Fixed Income, Charles Schwab Investment Management, Inc. (Apr. 2011 – present); Senior Vice President and Chief Investment Officer – Fixed Income, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Senior Managing Director, Global Head of Active Fixed-Income Strategies, State Street Global Advisors (Jan. 2008 – Oct. 2010); Director of Alpha Strategies Loomis, Sayles & Company (Apr. 2006 – Jan. 2008). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President (Sept. 2011 – present), Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present), Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (Apr. 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk, Laudus Funds (Apr. 2011 – present); Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Vice President, Charles Schwab & Co., Inc., Charles Schwab Investment Management, Inc. (July 2005 – present); Vice President (Dec. 2005 – present), Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary, Schwab ETFs (Oct. 2009 – present). |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger, Ms. Chandoha, and Mr. Martinetto are Interested Trustees because they own stock of The Charles Schwab Corporation, the parent company of the investment adviser. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
THIS IS NOT PART OF THE SHAREHOLDER REPORT
INFORMATION.
INFORMATION.
Partnership
Member SIPC®
Printed on recycled paper.
1 | You could lose money by investing in a money market fund. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Effective October 14, 2016, all Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The money market fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g29907img3ec6c8f01.jpg)
00186668
Table of Contents
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854img969afbbb1.jpg)
Total Return for the 12 Months Ended October 31, 2016 | |
Schwab Target 2010 Fund (Ticker Symbol: SWBRX) | 2.68% |
Target 2010 Composite Index | 3.44% |
Fund Category: Morningstar Target-Date 2000-2010 | 3.57% |
Performance Details | pages 9-11 |
Schwab Target 2015 Fund (Ticker Symbol: SWGRX) | 2.59% |
Target 2015 Composite Index | 3.45% |
Fund Category: Morningstar Target-Date 2015 | 3.44% |
Performance Details | pages 12-14 |
Schwab Target 2020 Fund (Ticker Symbol: SWCRX) | 2.05% |
Target 2020 Composite Index | 3.12% |
Fund Category: Morningstar Target-Date 2020 | 3.30% |
Performance Details | pages 15-17 |
Schwab Target 2025 Fund (Ticker Symbol: SWHRX) | 2.01% |
Target 2025 Composite Index | 3.06% |
Fund Category: Morningstar Target-Date 2025 | 3.08% |
Performance Details | pages 18-20 |
Schwab Target 2030 Fund (Ticker Symbol: SWDRX) | 1.72% |
Target 2030 Composite Index | 2.98% |
Fund Category: Morningstar Target-Date 2030 | 3.04% |
Performance Details | pages 21-23 |
Total Return for the 12 Months Ended October 31, 2016 | |
Schwab Target 2035 Fund (Ticker Symbol: SWIRX) | 1.63% |
Target 2035 Composite Index | 2.91% |
Fund Category: Morningstar Target-Date 2035 | 2.65% |
Performance Details | pages 24-26 |
Schwab Target 2040 Fund (Ticker Symbol: SWERX) | 1.38% |
Target 2040 Composite Index | 2.83% |
Fund Category: Morningstar Target-Date 2040 | 2.73% |
Performance Details | pages 27-29 |
Schwab Target 2045 Fund (Ticker Symbol: SWMRX) | 1.40% |
Target 2045 Composite Index | 2.79% |
Fund Category: Morningstar Target-Date 2045 | 2.44% |
Performance Details | pages 30-32 |
Schwab Target 2050 Fund (Ticker Symbol: SWNRX) | 1.39% |
Target 2050 Composite Index | 2.75% |
Fund Category: Morningstar Target-Date 2050 | 2.74% |
Performance Details | pages 33-35 |
Schwab Target 2055 Fund (Ticker Symbol: SWORX) | 1.28% |
Target 2055 Composite Index | 2.70% |
Fund Category: Morningstar Target-Date 2055 | 2.39% |
Performance Details | pages 36-38 |
Schwab Target 2060 Fund (Ticker Symbol: SWPRX) | -1.70% 1 |
Target 2060 Composite Index | -2.08% 1 |
Fund Category: Morningstar Target-Date 2060+ | -1.82% 1 |
Performance Details | pages 39-41 |
Minimum Initial Investment2 | $ 100 |
1 | Total returns shown are since the Schwab Target 2060 Fund’s inception date of August 25, 2016. |
2 | Please see the funds’ prospectus for further detail and eligibility requirements. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854imga47bcc922.jpg)
President and CEO of
Charles Schwab Investment
Management, Inc. and the
funds covered in this report.
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854img5f8ef0733.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854img1054f8f24.jpg)
![]() | Zifan Tang, Ph.D., CFA, Managing Director, Senior Portfolio Manager, leads the portfolio management team and has overall responsibility for all aspects of the management of the funds. She was appointed portfolio manager of the funds in February 2012. Prior to joining CSIM in 2012, Ms. Tang was a product manager at Thomson Reuters and, from 1997 to 2009, worked as a portfolio manager at Barclays Global Investors, which was subsequently acquired by BlackRock. |
Number of Holdings | 22 |
Portfolio Turnover Rate | 14% |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854imgf6af13136.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854imga35635347.jpg)
1 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed income securities, exchange-traded funds, and cash equivalents, including money market securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854lg_2mp5.jpg)
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Target 2010 Fund (7/1/05) | 2.68% | 5.59% | 3.48% |
Target 2010 Composite Index | 3.44% | 5.72% | 4.39% |
Dow Jones U.S. Total Stock Market IndexSM | 4.21% | 13.29% | 6.87% |
Bloomberg Barclays U.S. Aggregate Bond Index | 4.37% | 2.90% | 4.64% |
Fund Category: Morningstar Target-Date 2000-2010 | 3.57% | 5.47% | 3.79% |
Fund Expense Ratios3: Net 0.48%; Gross 0.62% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.48%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 21 |
Portfolio Turnover Rate | 14% |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854imgf6aad0558.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854img562074929.jpg)
1 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed income securities, exchange-traded funds, and cash equivalents, including money market securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854lg_2mq1.jpg)
Fund and Inception Date | 1 Year | 5 Years | Since Inception |
Fund: Schwab Target 2015 Fund (3/12/08) | 2.59% | 6.26% | 4.80% |
Target 2015 Composite Index | 3.45% | 6.41% | 4.90% |
Dow Jones U.S. Total Stock Market IndexSM | 4.21% | 13.29% | 8.19% |
Bloomberg Barclays U.S. Aggregate Bond Index | 4.37% | 2.90% | 4.44% |
Fund Category: Morningstar Target-Date 2015 | 3.44% | 6.16% | 3.90% |
Fund Expense Ratios3: Net 0.50%; Gross 0.59% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.50%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 24 |
Portfolio Turnover Rate | 9% |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854imga93e937010.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854imgf92ec1b711.jpg)
1 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed income securities, exchange-traded funds, and cash equivalents, including money market securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854lg_2mp6.jpg)
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Target 2020 Fund (7/1/05) | 2.05% | 7.33% | 4.58% |
Target 2020 Composite Index | 3.12% | 7.54% | 5.08% |
Dow Jones U.S. Total Stock Market IndexSM | 4.21% | 13.29% | 6.87% |
Bloomberg Barclays U.S. Aggregate Bond Index | 4.37% | 2.90% | 4.64% |
Fund Category: Morningstar Target-Date 2020 | 3.30% | 6.11% | 3.89% |
Fund Expense Ratios3: Net 0.59%; Gross 0.62% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.59%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 24 |
Portfolio Turnover Rate | 5% |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854imgdaedcd2412.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854img26bcfc6d13.jpg)
1 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed income securities, exchange-traded funds, and cash equivalents, including money market securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854lg_2mq2.jpg)
Fund and Inception Date | 1 Year | 5 Years | Since Inception |
Fund: Schwab Target 2025 Fund (3/12/08) | 2.01% | 8.13% | 6.26% |
Target 2025 Composite Index | 3.06% | 8.36% | 5.85% |
Dow Jones U.S. Total Stock Market IndexSM | 4.21% | 13.29% | 8.19% |
Bloomberg Barclays U.S. Aggregate Bond Index | 4.37% | 2.90% | 4.44% |
Fund Category: Morningstar Target-Date 2025 | 3.08% | 7.18% | 4.34% |
Fund Expense Ratios3: Net 0.65%; Gross 0.69% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.65%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 22 |
Portfolio Turnover Rate | 5% |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854imged897ece14.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854imgb7d1e67915.jpg)
1 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed income securities, exchange-traded funds, and cash equivalents, including money market securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854lg_2mp7.jpg)
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Target 2030 Fund (7/1/05) | 1.72% | 8.69% | 5.26% |
Target 2030 Composite Index | 2.98% | 8.99% | 5.51% |
Dow Jones U.S. Total Stock Market IndexSM | 4.21% | 13.29% | 6.87% |
Bloomberg Barclays U.S. Aggregate Bond Index | 4.37% | 2.90% | 4.64% |
Fund Category: Morningstar Target-Date 2030 | 3.04% | 7.36% | 4.00% |
Fund Expense Ratios3: Net 0.70%; Gross 0.73% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.70%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 23 |
Portfolio Turnover Rate | 3% |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854imgdc91c7c816.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854img6b92356317.jpg)
1 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed income securities, exchange-traded funds, and cash equivalents, including money market securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854lg_2mq3.jpg)
Fund and Inception Date | 1 Year | 5 Years | Since Inception |
Fund: Schwab Target 2035 Fund (3/12/08) | 1.63% | 9.26% | 6.68% |
Target 2035 Composite Index | 2.91% | 9.57% | 6.29% |
Dow Jones U.S. Total Stock Market IndexSM | 4.21% | 13.29% | 8.19% |
Bloomberg Barclays U.S. Aggregate Bond Index | 4.37% | 2.90% | 4.44% |
Fund Category: Morningstar Target-Date 2035 | 2.65% | 8.16% | 4.70% |
Fund Expense Ratios3: Net 0.74%; Gross 0.79% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.74%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 23 |
Portfolio Turnover Rate | 4% |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854imgbd31e07918.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854imgc6b3e74d19.jpg)
1 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed income securities, exchange-traded funds, and cash equivalents, including money market securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854lg_2mp8.jpg)
Fund and Inception Date | 1 Year | 5 Years | 10 Years |
Fund: Schwab Target 2040 Fund (7/1/05) | 1.38% | 9.66% | 5.61% |
Target 2040 Composite Index | 2.83% | 9.96% | 5.74% |
Dow Jones U.S. Total Stock Market IndexSM | 4.21% | 13.29% | 6.87% |
Bloomberg Barclays U.S. Aggregate Bond Index | 4.37% | 2.90% | 4.64% |
Fund Category: Morningstar Target-Date 2040 | 2.73% | 8.06% | 4.09% |
Fund Expense Ratios3: Net 0.77%; Gross 0.80% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.77%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 22 |
Portfolio Turnover Rate | 1% |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854img480aea9020.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854img5fc36c6721.jpg)
1 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed income securities, exchange-traded funds, and cash equivalents, including money market securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854lg_2mr1.jpg)
Fund and Inception Date | 1 Year | 3 Years | Since Inception |
Fund: Schwab Target 2045 Fund (1/23/13) | 1.40% | 4.61% | 7.96% |
Target 2045 Composite Index | 2.79% | 5.26% | 8.47% |
Dow Jones U.S. Total Stock Market IndexSM | 4.21% | 8.07% | 11.71% |
Bloomberg Barclays U.S. Aggregate Bond Index | 4.37% | 3.48% | 2.51% |
Fund Category: Morningstar Target-Date 2045 | 2.44% | 3.87% | 6.66% |
Fund Expense Ratios3: Net 0.79%; Gross 0.99% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.79%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 22 |
Portfolio Turnover Rate | 1% |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854img3443719522.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854img3e06271e23.jpg)
1 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed income securities, exchange-traded funds, and cash equivalents, including money market securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854lg_2mr2.jpg)
Fund and Inception Date | 1 Year | 3 Years | Since Inception |
Fund: Schwab Target 2050 Fund (1/23/13) | 1.39% | 4.68% | 8.16% |
Target 2050 Composite Index | 2.75% | 5.30% | 8.62% |
Dow Jones U.S. Total Stock Market IndexSM | 4.21% | 8.07% | 11.71% |
Bloomberg Barclays U.S. Aggregate Bond Index | 4.37% | 3.48% | 2.51% |
Fund Category: Morningstar Target-Date 2050 | 2.74% | 3.91% | 6.54% |
Fund Expense Ratios3: Net 0.81%; Gross 1.06% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.81%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 21 |
Portfolio Turnover Rate | 1% |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854img553f6e7e24.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854img3c96a54625.jpg)
1 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed income securities, exchange-traded funds, and cash equivalents, including money market securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854lg_2mr3.jpg)
Fund and Inception Date | 1 Year | 3 Years | Since Inception |
Fund: Schwab Target 2055 Fund (1/23/13) | 1.28% | 4.66% | 8.19% |
Target 2055 Composite Index | 2.70% | 5.30% | 8.70% |
Dow Jones U.S. Total Stock Market IndexSM | 4.21% | 8.07% | 11.71% |
Bloomberg Barclays U.S. Aggregate Bond Index | 4.37% | 3.48% | 2.51% |
Fund Category: Morningstar Target-Date 2055 | 2.39% | 4.02% | 7.02% |
Fund Expense Ratios3: Net 0.82%; Gross 1.26% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.82%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
Number of Holdings | 17 |
Portfolio Turnover Rate | 0% |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854img4ee8831126.jpg)
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854imgc47ad1fa27.jpg)
1 | The fund intends to invest in a combination of the underlying funds; however, the fund may also invest directly in equity and fixed income securities, exchange-traded funds, and cash equivalents, including money market securities. |
2 | This list is not a recommendation of any security by the investment adviser. |
3 | The holdings listed exclude any temporary liquidity investments. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854lg_2mv3.jpg)
Fund and Inception Date | Since Inception |
Fund: Schwab Target 2060 Fund (8/25/16) | -1.70% |
Target 2060 Composite Index | -2.08% |
Dow Jones U.S. Total Stock Market IndexSM | -2.10% |
Bloomberg Barclays U.S. Aggregate Bond Index | -0.86% |
Fund Category: Morningstar Target-Date 2060+ | -1.82% |
Fund Expense Ratios3: Net 0.82%; Gross 1.92% |
1 | Fund expenses may have been partially absorbed by CSIM and its affiliates. Without these reductions, the fund’s returns would have been lower. These returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
2 | Source for category information: Morningstar, Inc. The Morningstar Category return represents all active and index mutual funds within the category as of the report date. |
3 | As stated in the prospectus. Includes expenses of the underlying funds in which the fund invests. The annualized weighted average expense ratio of the underlying funds was 0.82%. Net Expense: Expenses reduced by a contractual fee waiver in effect for so long as CSIM serves as the investment adviser to the fund. Gross Expense: Does not reflect the effect of contractual fee waivers. For actual ratios during the period, refer to the financial highlights section of the financial statements. |
As a fund shareholder, you may incur two types of costs: (1) transaction costs, such as redemption fees; and (2) ongoing costs, including management fees, transfer agent and shareholder services fees, and other fund expenses.
Expense Ratio (Annualized)1 | Beginning Account Value at 5/1/16 | Ending Account Value (Net of Expenses) at 10/31/16 | Expenses Paid During Period 5/1/16-10/31/162 | |
Schwab Target 2010 Fund | ||||
Actual Return | 0.00% | $1,000.00 | $1,022.00 | $0.00 |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.10 | $0.00 |
Schwab Target 2015 Fund | ||||
Actual Return | 0.00% | $1,000.00 | $1,021.80 | $0.00 |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.10 | $0.00 |
Schwab Target 2020 Fund | ||||
Actual Return | 0.00% | $1,000.00 | $1,025.20 | $0.00 |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.10 | $0.00 |
Schwab Target 2025 Fund | ||||
Actual Return | 0.00% | $1,000.00 | $1,028.30 | $0.00 |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.10 | $0.00 |
Schwab Target 2030 Fund | ||||
Actual Return | 0.00% | $1,000.00 | $1,029.80 | $0.00 |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.10 | $0.00 |
Schwab Target 2035 Fund | ||||
Actual Return | 0.00% | $1,000.00 | $1,032.10 | $0.00 |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.10 | $0.00 |
Schwab Target 2040 Fund | ||||
Actual Return | 0.00% | $1,000.00 | $1,033.50 | $0.00 |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.10 | $0.00 |
Schwab Target 2045 Fund | ||||
Actual Return | 0.00% | $1,000.00 | $1,034.50 | $0.00 |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.10 | $0.00 |
Schwab Target 2050 Fund | ||||
Actual Return | 0.00% | $1,000.00 | $1,035.10 | $0.00 |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.10 | $0.00 |
Schwab Target 2055 Fund | ||||
Actual Return | 0.00% | $1,000.00 | $1,036.00 | $0.00 |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.10 | $0.00 |
Expense Ratio (Annualized)1 | Beginning Account Value at 5/1/16 | Ending Account Value (Net of Expenses) at 10/31/16 | Expenses Paid During Period 5/1/16-10/31/162 | |
Schwab Target 2060 Fund3,4 | ||||
Actual Return | 0.00% | $1,000.00 | $ 983.00 | $0.00 |
Hypothetical 5% Return | 0.00% | $1,000.00 | $1,025.10 | $0.00 |
1 | Based on the most recent six-month expense ratio; may differ from the expense ratio provided in the Financial Highlights which covers a 12-month period. The expenses incurred by the underlying funds in which the funds invest are not included in this ratio. This ratio does not include certain non-routine expenses, such as proxy expenses. |
2 | Expenses for each fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by the 366 days of the fiscal year. |
3 | The expense ratio provided for the fund is for the period from 8/25/16 (commencement of operations) through 10/31/16. See financial note 4. |
4 | Actual expenses for the fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 68 days of the period from commencement of operations on 8/25/16 through 10/31/16, and divided by 366 days of the fiscal year. Hypothetical expenses for the fund are equal to its annualized expense ratio, multiplied by the average account value over the period, multiplied by the 184 days of the period, and divided by 366 days of the fiscal year. |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $12.42 | $12.42 | $11.91 | $11.10 | $10.56 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.20 1 | 0.17 1 | 0.19 | 0.21 | 0.22 | |
Net realized and unrealized gains (losses) | 0.12 | 0.08 | 0.52 | 0.85 | 0.57 | |
Total from investment operations | 0.32 | 0.25 | 0.71 | 1.06 | 0.79 | |
Less distributions: | ||||||
Distributions from net investment income | (0.22) | (0.25) | (0.20) | (0.25) | (0.25) | |
Net asset value at end of period | $12.52 | $12.42 | $12.42 | $11.91 | $11.10 | |
Total return | 2.68% | 2.03% | 6.08% | 9.74% | 7.63% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.00% 3 | 0.00% 3 | — | — | — | |
Gross operating expenses2 | 0.14% | 0.14% | 0.17% | 0.18% | 0.18% | |
Net investment income (loss) | 1.60% | 1.40% | 1.53% | 1.77% | 1.95% | |
Portfolio turnover rate | 14% | 33% | 29% | 26% | 13% | |
Net assets, end of period (x 1,000,000) | $59 | $65 | $64 | $61 | $60 | |
Holdings by Category | Cost ($) | Value ($) | |
97.6% | Other Investment Companies | 52,236,942 | 58,029,087 |
2.1% | Short-Term Investments | 1,246,698 | 1,246,698 |
99.7% | Total Investments | 53,483,640 | 59,275,785 |
0.3% | Other Assets and Liabilities, Net | 194,417 | |
100.0% | Net Assets | 59,470,202 |
Security | Number of Shares | Value ($) |
Other Investment Companies 97.6% of net assets | ||
Equity Funds 37.5% | ||
Global Real Estate 1.9% | ||
Schwab Global Real Estate Fund (a) | 161,504 | 1,156,371 |
International 8.7% | ||
Laudus International MarketMasters Fund, Select Shares (a) | 145,572 | 3,080,313 |
Schwab International Core Equity Fund (a) | 226,044 | 2,079,605 |
5,159,918 | ||
Large-Cap 24.8% | ||
Dodge & Cox Stock Fund | 808 | 139,099 |
Laudus U.S. Large Cap Growth Fund *(a) | 218,108 | 3,659,853 |
Schwab Core Equity Fund (a) | 206,034 | 4,048,568 |
Schwab Dividend Equity Fund (a) | 125,632 | 1,807,842 |
Schwab S&P 500 Index Fund (a) | 100,633 | 3,359,139 |
TCW Relative Value Large Cap Fund, Class I | 81,298 | 1,738,142 |
14,752,643 | ||
Small-Cap 2.1% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares *(a) | 28,044 | 464,123 |
Schwab Small-Cap Equity Fund (a) | 41,665 | 783,711 |
1,247,834 | ||
22,316,766 | ||
Fixed-Income Funds 55.9% | ||
Inflation-Protected Bond 6.4% | ||
Schwab Treasury Inflation Protected Securities Index Fund (a) | 336,959 | 3,814,376 |
Intermediate-Term Bond 39.2% | ||
Metropolitan West Total Return Bond Fund, Class I | 515,799 | 5,637,683 |
Natixis Loomis Sayles Investment Grade Bond Fund, Class Y Shares | 57,436 | 659,368 |
Schwab Total Bond Market Fund (a) | 1,451,313 | 14,005,166 |
Wells Fargo Core Bond Fund, Institutional Class | 228,396 | 2,989,708 |
23,291,925 |
Security | Number of Shares | Value ($) |
International Bond 0.6% | ||
Laudus Mondrian International Government Fixed Income Fund *(a) | 35,650 | 350,437 |
Short-Term Bond 9.7% | ||
Schwab Short-Term Bond Market Fund (a) | 618,557 | 5,777,319 |
33,234,057 | ||
Money Market Fund 4.2% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.52% (a)(b) | 2,477,273 | 2,478,264 |
Total Other Investment Companies | ||
(Cost $52,236,942) | 58,029,087 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 2.1% of net assets | ||
Time Deposits 2.1% | ||
ING Bank | ||
0.15%, 11/01/16 (c) | 595,880 | 595,880 |
Skandinaviska Enskilda Banken | ||
0.15%, 11/01/16 (c) | 54,938 | 54,938 |
Sumitomo Mitsui Banking Corp. | ||
0.15%, 11/01/16 (c) | 595,880 | 595,880 |
Total Short-Term Investments | ||
(Cost $1,246,698) | 1,246,698 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the 7-day yield. |
(c) | The rate shown is the current daily overnight rate. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Other Investment Companies1 | $58,029,087 | $— | $— | $58,029,087 | |
Short-Term Investments1 | — | 1,246,698 | — | 1,246,698 | |
Total | $58,029,087 | $1,246,698 | $— | $59,275,785 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $41,765,807) | $46,865,087 | |
Investments in unaffiliated issuers, at value (cost $11,717,833) | + | 12,410,698 |
Total investments, at value (cost $53,483,640) | 59,275,785 | |
Receivables: | ||
Investments sold | 325,000 | |
Dividends | 45,965 | |
Fund shares sold | 26,673 | |
Prepaid expenses | + | 8,062 |
Total assets | 59,681,485 | |
Liabilities | ||
Payables: | ||
Investments bought | 41,888 | |
Fund shares redeemed | 145,388 | |
Accrued expenses | + | 24,007 |
Total liabilities | 211,283 | |
Net Assets | ||
Total assets | 59,681,485 | |
Total liabilities | – | 211,283 |
Net assets | $59,470,202 | |
Net Assets by Source | ||
Capital received from investors | 61,118,015 | |
Net investment income not yet distributed | 567,443 | |
Net realized capital losses | (8,007,401) | |
Net unrealized capital appreciation | 5,792,145 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$59,470,202 | 4,750,368 | $12.52 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $773,724 | |
Dividends received from unaffiliated underlying funds | 202,553 | |
Interest | + | 1,943 |
Total investment income | 978,220 | |
Expenses | ||
Professional fees | 26,390 | |
Registration fees | 19,599 | |
Transfer agent fees | 12,192 | |
Independent trustees' fees | 8,308 | |
Shareholder reports | 8,280 | |
Portfolio accounting fees | 5,436 | |
Custodian fees | 3,257 | |
Proxy fees | 1,463 | |
Other expenses | + | 1,659 |
Total expenses | 86,584 | |
Expense reduction by CSIM | – | 85,121 |
Net expenses | – | 1,463 |
Net investment income | 976,757 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 1,415,921 | |
Realized capital gain distributions received from unaffiliated underlying funds | 155,483 | |
Net realized gains on sales of affiliated underlying funds | 650,072 | |
Net realized losses on sales of unaffiliated underlying funds | + | (8,818) |
Net realized gains | 2,212,658 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | (1,739,049) | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | 115,551 |
Net change in unrealized appreciation (depreciation) | + | (1,623,498) |
Net realized and unrealized gains | 589,160 | |
Increase in net assets resulting from operations | $1,565,917 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $976,757 | $916,426 | ||
Net realized gains | 2,212,658 | 3,164,996 | ||
Net change in unrealized appreciation (depreciation) | + | (1,623,498) | (2,756,474) | |
Increase in net assets from operations | 1,565,917 | 1,324,948 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | ($1,128,027) | ($1,277,875) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 719,105 | $8,761,592 | 1,228,160 | $15,228,571 | ||||
Shares reinvested | 87,514 | 1,059,786 | 97,175 | 1,194,285 | ||||
Shares redeemed | + | (1,250,841) | (15,300,270) | (1,267,254) | (15,735,627) | |||
Net transactions in fund shares | (444,222) | ($5,478,892) | 58,081 | $687,229 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 5,194,590 | $64,511,204 | 5,136,509 | $63,776,902 | ||||
Total increase or decrease | + | (444,222) | (5,041,002) | 58,081 | 734,302 | |||
End of period | 4,750,368 | $59,470,202 | 5,194,590 | $64,511,204 | ||||
Net investment income not yet distributed | $567,443 | $518,547 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $12.23 | $12.81 | $12.22 | $11.13 | $10.48 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.18 1 | 0.17 1 | 0.19 | 0.20 | 0.20 | |
Net realized and unrealized gains (losses) | 0.11 | 0.08 | 0.60 | 1.12 | 0.66 | |
Total from investment operations | 0.29 | 0.25 | 0.79 | 1.32 | 0.86 | |
Less distributions: | ||||||
Distributions from net investment income | (0.21) | (0.27) | (0.20) | (0.23) | (0.21) | |
Distributions from net realized gains | (0.59) | (0.56) | — | — | — | |
Total distributions | (0.80) | (0.83) | (0.20) | (0.23) | (0.21) | |
Net asset value at end of period | $11.72 | $12.23 | $12.81 | $12.22 | $11.13 | |
Total return | 2.59% | 1.99% | 6.56% | 12.06% | 8.41% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.00% 3 | 0.00% 3 | — | — | — | |
Gross operating expenses2 | 0.08% | 0.09% | 0.11% | 0.14% | 0.19% | |
Net investment income (loss) | 1.59% | 1.42% | 1.52% | 1.72% | 1.85% | |
Portfolio turnover rate | 14% | 33% | 32% | 16% | 13% | |
Net assets, end of period (x 1,000,000) | $104 | $116 | $111 | $94 | $70 | |
Holdings by Category | Cost ($) | Value ($) | |
97.8% | Other Investment Companies | 94,262,473 | 101,901,402 |
1.9% | Short-Term Investments | 2,000,886 | 2,000,886 |
99.7% | Total Investments | 96,263,359 | 103,902,288 |
0.3% | Other Assets and Liabilities, Net | 276,935 | |
100.0% | Net Assets | 104,179,223 |
Security | Number of Shares | Value ($) |
Other Investment Companies 97.8% of net assets | ||
Equity Funds 39.5% | ||
Global Real Estate 2.1% | ||
Schwab Global Real Estate Fund (a) | 310,396 | 2,222,439 |
International 9.1% | ||
Laudus International MarketMasters Fund, Select Shares (a) | 265,900 | 5,626,449 |
Schwab International Core Equity Fund (a) | 412,225 | 3,792,473 |
9,418,922 | ||
Large-Cap 26.1% | ||
Dodge & Cox Stock Fund | 788 | 135,673 |
Laudus U.S. Large Cap Growth Fund *(a) | 404,597 | 6,789,145 |
Schwab Core Equity Fund (a) | 377,300 | 7,413,944 |
Schwab Dividend Equity Fund (a) | 235,802 | 3,393,187 |
Schwab S&P 500 Index Fund (a) | 184,941 | 6,173,323 |
TCW Relative Value Large Cap Fund, Class I | 152,426 | 3,258,872 |
27,164,144 | ||
Small-Cap 2.2% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares *(a) | 48,557 | 803,621 |
Schwab Small-Cap Equity Fund (a) | 79,817 | 1,501,362 |
2,304,983 | ||
41,110,488 | ||
Fixed-Income Funds 54.3% | ||
Inflation-Protected Bond 6.2% | ||
Schwab Treasury Inflation Protected Securities Index Fund (a) | 568,411 | 6,434,411 |
Intermediate-Term Bond 38.1% | ||
Metropolitan West Total Return Bond Fund, Class I | 900,479 | 9,842,233 |
Natixis Loomis Sayles Investment Grade Bond Fund, Class Y Shares | 127,375 | 1,462,263 |
Schwab Total Bond Market Fund (a) | 2,439,734 | 23,543,432 |
Wells Fargo Core Bond Fund, Institutional Class | 367,931 | 4,816,219 |
39,664,147 |
Security | Number of Shares | Value ($) |
International Bond 0.7% | ||
Laudus Mondrian International Government Fixed Income Fund *(a) | 76,743 | 754,384 |
Short-Term Bond 9.3% | ||
Schwab Short-Term Bond Market Fund (a) | 1,041,828 | 9,730,674 |
56,583,616 | ||
Money Market Fund 4.0% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.52% (a)(b) | 4,205,616 | 4,207,298 |
Total Other Investment Companies | ||
(Cost $94,262,473) | 101,901,402 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 1.9% of net assets | ||
Time Deposits 1.9% | ||
BNP Paribas | ||
0.15%, 11/01/16 (c) | 957,768 | 957,768 |
Sumitomo Mitsui Banking Corp. | ||
0.15%, 11/01/16 (c) | 1,043,118 | 1,043,118 |
Total Short-Term Investments | ||
(Cost $2,000,886) | 2,000,886 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the 7-day yield. |
(c) | The rate shown is the current daily overnight rate. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Other Investment Companies1 | $101,901,402 | $— | $— | $101,901,402 | |
Short-Term Investments1 | — | 2,000,886 | — | 2,000,886 | |
Total | $101,901,402 | $2,000,886 | $— | $103,902,288 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $75,780,375) | $82,386,142 | |
Investments in unaffiliated issuers, at value (cost $20,482,984) | + | 21,516,146 |
Total investments, at value (cost $96,263,359) | 103,902,288 | |
Receivables: | ||
Investments sold | 350,000 | |
Fund shares sold | 90,370 | |
Dividends | 76,955 | |
Prepaid expenses | + | 5,312 |
Total assets | 104,424,925 | |
Liabilities | ||
Payables: | ||
Investments bought | 70,203 | |
Fund shares redeemed | 151,139 | |
Accrued expenses | + | 24,360 |
Total liabilities | 245,702 | |
Net Assets | ||
Total assets | 104,424,925 | |
Total liabilities | – | 245,702 |
Net assets | $104,179,223 | |
Net Assets by Source | ||
Capital received from investors | 92,687,288 | |
Net investment income not yet distributed | 993,948 | |
Net realized capital gains | 2,859,058 | |
Net unrealized capital appreciation | 7,638,929 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$104,179,223 | 8,885,259 | $11.72 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $1,387,846 | |
Dividends received from unaffiliated underlying funds | 366,459 | |
Interest | + | 3,568 |
Total investment income | 1,757,873 | |
Expenses | ||
Professional fees | 26,744 | |
Registration fees | 20,563 | |
Transfer agent fees | 13,186 | |
Shareholder reports | 9,955 | |
Independent trustees' fees | 8,608 | |
Portfolio accounting fees | 6,113 | |
Custodian fees | 3,800 | |
Proxy fees | 2,257 | |
Other expenses | + | 2,496 |
Total expenses | 93,722 | |
Expense reduction by CSIM | – | 91,465 |
Net expenses | – | 2,257 |
Net investment income | 1,755,616 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 2,662,001 | |
Realized capital gain distributions received from unaffiliated underlying funds | 292,897 | |
Net realized gains on sales of affiliated underlying funds | 679,140 | |
Net realized gains on sales of unaffiliated underlying funds | + | 1,385 |
Net realized gains | 3,635,423 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | (2,671,773) | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | 196,744 |
Net change in unrealized appreciation (depreciation) | + | (2,475,029) |
Net realized and unrealized gains | 1,160,394 | |
Increase in net assets resulting from operations | $2,916,010 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $1,755,616 | $1,623,736 | ||
Net realized gains | 3,635,423 | 6,088,949 | ||
Net change in unrealized appreciation (depreciation) | + | (2,475,029) | (5,522,303) | |
Increase in net assets from operations | 2,916,010 | 2,190,382 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (1,912,081) | (2,377,309) | ||
Distributions from net realized gains | + | (5,504,533) | (4,869,324) | |
Total distributions | ($7,416,614) | ($7,246,633) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 1,773,195 | $20,460,018 | 3,086,913 | $37,992,475 | ||||
Shares reinvested | 607,968 | 6,894,365 | 564,457 | 6,841,214 | ||||
Shares redeemed | + | (2,943,054) | (34,207,784) | (2,879,374) | (35,347,201) | |||
Net transactions in fund shares | (561,891) | ($6,853,401) | 771,996 | $9,486,488 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 9,447,150 | $115,533,228 | 8,675,154 | $111,102,991 | ||||
Total increase or decrease | + | (561,891) | (11,354,005) | 771,996 | 4,430,237 | |||
End of period | 8,885,259 | $104,179,223 | 9,447,150 | $115,533,228 | ||||
Net investment income not yet distributed | $993,948 | $775,782 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $14.33 | $14.32 | $13.52 | $11.94 | $11.13 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.22 1 | 0.20 1 | 0.21 | 0.22 | 0.22 | |
Net realized and unrealized gains (losses) | 0.06 | 0.12 | 0.82 | 1.62 | 0.82 | |
Total from investment operations | 0.28 | 0.32 | 1.03 | 1.84 | 1.04 | |
Less distributions: | ||||||
Distributions from net investment income | (0.27) | (0.31) | (0.23) | (0.26) | (0.23) | |
Distributions from net realized gains | (0.50) | — | — | — | — | |
Total distributions | (0.77) | (0.31) | (0.23) | (0.26) | (0.23) | |
Net asset value at end of period | $13.84 | $14.33 | $14.32 | $13.52 | $11.94 | |
Total return | 2.05% | 2.25% | 7.71% | 15.72% | 9.52% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.00% 3 | 0.00% 3 | — | — | — | |
Gross operating expenses2 | 0.03% | 0.03% | 0.04% | 0.05% | 0.06% | |
Net investment income (loss) | 1.59% | 1.42% | 1.48% | 1.71% | 1.89% | |
Portfolio turnover rate | 9% | 25% | 26% | 14% | 13% | |
Net assets, end of period (x 1,000,000) | $530 | $536 | $499 | $415 | $306 | |
Holdings by Category | Cost ($) | Value ($) | |
97.8% | Other Investment Companies | 469,695,326 | 518,350,155 |
2.2% | Short-Term Investments | 11,560,666 | 11,560,666 |
100.0% | Total Investments | 481,255,992 | 529,910,821 |
0.0% | Other Assets and Liabilities, Net | 39,147 | |
100.0% | Net Assets | 529,949,968 |
Security | Number of Shares | Value ($) |
Other Investment Companies 97.8% of net assets | ||
Equity Funds 51.9% | ||
Global Real Estate 2.7% | ||
Schwab Global Real Estate Fund (a) | 1,997,312 | 14,300,752 |
International 12.8% | ||
Laudus International MarketMasters Fund, Select Shares (a) | 1,886,513 | 39,918,614 |
Laudus Mondrian Emerging Markets Fund, Institutional Shares (a) | 147,572 | 1,090,562 |
Schwab International Core Equity Fund (a) | 2,933,654 | 26,989,615 |
67,998,791 | ||
Large-Cap 33.2% | ||
Dodge & Cox Stock Fund | 13,344 | 2,298,416 |
Laudus U.S. Large Cap Growth Fund *(a) | 2,627,246 | 44,085,180 |
Schwab Core Equity Fund (a) | 2,454,798 | 48,236,785 |
Schwab Dividend Equity Fund (a) | 1,514,872 | 21,799,010 |
Schwab S&P 500 Index Fund (a) | 1,186,329 | 39,599,659 |
TCW Relative Value Large Cap Fund, Class I | 922,204 | 19,716,729 |
175,735,779 | ||
Small-Cap 3.2% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares *(a) | 369,722 | 6,118,891 |
Schwab Small-Cap Equity Fund (a) | 570,876 | 10,738,184 |
16,857,075 | ||
274,892,397 | ||
Fixed-Income Funds 43.8% | ||
Inflation-Protected Bond 2.8% | ||
Schwab Treasury Inflation Protected Securities Index Fund (a) | 1,320,382 | 14,946,730 |
Intermediate-Term Bond 33.8% | ||
Metropolitan West Total Return Bond Fund, Class I | 4,504,202 | 49,230,933 |
Natixis Loomis Sayles Investment Grade Bond Fund, Class Y Shares | 1,127,918 | 12,948,503 |
Security | Number of Shares | Value ($) |
Schwab Intermediate-Term Bond Fund (a) | 394,902 | 4,067,489 |
Schwab Total Bond Market Fund (a) | 10,005,022 | 96,548,458 |
Wells Fargo Core Bond Fund, Institutional Class | 1,266,101 | 16,573,258 |
179,368,641 | ||
International Bond 1.1% | ||
Laudus Mondrian International Government Fixed Income Fund *(a) | 599,739 | 5,895,436 |
Short-Term Bond 6.1% | ||
Schwab Short-Term Bond Market Fund (a) | 3,448,197 | 32,206,158 |
232,416,965 | ||
Money Market Fund 2.1% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.52% (a)(b) | 11,036,379 | 11,040,793 |
Total Other Investment Companies | ||
(Cost $469,695,326) | 518,350,155 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 2.2% of net assets | ||
Time Deposits 2.2% | ||
ING Bank | ||
0.15%, 11/01/16 (c) | 5,307,465 | 5,307,465 |
Skandinaviska Enskilda Banken | ||
0.15%, 11/01/16 (c) | 945,736 | 945,736 |
Sumitomo Mitsui Banking Corp. | ||
0.15%, 11/01/16 (c) | 5,307,465 | 5,307,465 |
Total Short-Term Investments | ||
(Cost $11,560,666) | 11,560,666 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the 7-day yield. |
(c) | The rate shown is the current daily overnight rate. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Other Investment Companies1 | $518,350,155 | $— | $— | $518,350,155 | |
Short-Term Investments1 | — | 11,560,666 | — | 11,560,666 | |
Total | $518,350,155 | $11,560,666 | $— | $529,910,821 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $375,117,517) | $417,582,316 | |
Investments in unaffiliated issuers, at value (cost $106,138,475) | + | 112,328,505 |
Total investments, at value (cost $481,255,992) | 529,910,821 | |
Receivables: | ||
Fund shares sold | 360,594 | |
Dividends | 318,631 | |
Due from investment adviser | 5,488 | |
Interest | 48 | |
Prepaid expenses | + | 15,325 |
Total assets | 530,610,907 | |
Liabilities | ||
Payables: | ||
Investments bought | 292,987 | |
Fund shares redeemed | 326,580 | |
Accrued expenses | + | 41,372 |
Total liabilities | 660,939 | |
Net Assets | ||
Total assets | 530,610,907 | |
Total liabilities | – | 660,939 |
Net assets | $529,949,968 | |
Net Assets by Source | ||
Capital received from investors | 459,619,529 | |
Net investment income not yet distributed | 4,225,519 | |
Net realized capital gains | 17,450,091 | |
Net unrealized capital appreciation | 48,654,829 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$529,949,968 | 38,281,719 | $13.84 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $6,644,196 | |
Dividends received from unaffiliated underlying funds | 1,784,509 | |
Interest | + | 16,920 |
Total investment income | 8,445,625 | |
Expenses | ||
Registration fees | 34,095 | |
Shareholder reports | 31,174 | |
Professional fees | 29,636 | |
Portfolio accounting fees | 20,687 | |
Transfer agent fees | 18,657 | |
Independent trustees' fees | 11,116 | |
Custodian fees | 8,630 | |
Proxy fees | 7,795 | |
Other expenses | + | 8,183 |
Total expenses | 169,973 | |
Expense reduction by CSIM | – | 162,178 |
Net expenses | – | 7,795 |
Net investment income | 8,437,830 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 16,728,385 | |
Realized capital gain distributions received from unaffiliated underlying funds | 1,665,672 | |
Net realized gains on sales of affiliated underlying funds | 3,463,252 | |
Net realized losses on sales of unaffiliated underlying funds | + | (293,824) |
Net realized gains | 21,563,485 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | (19,572,741) | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | 840,985 |
Net change in unrealized appreciation (depreciation) | + | (18,731,756) |
Net realized and unrealized gains | 2,831,729 | |
Increase in net assets resulting from operations | $11,269,559 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $8,437,830 | $7,462,227 | ||
Net realized gains | 21,563,485 | 32,071,909 | ||
Net change in unrealized appreciation (depreciation) | + | (18,731,756) | (28,543,673) | |
Increase in net assets from operations | 11,269,559 | 10,990,463 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (10,024,736) | (10,865,751) | ||
Distributions from net realized gains | + | (18,650,147) | — | |
Total distributions | ($28,674,883) | ($10,865,751) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 6,250,271 | $84,821,765 | 8,456,975 | $121,244,776 | ||||
Shares reinvested | 2,041,707 | 27,481,364 | 734,526 | 10,422,917 | ||||
Shares redeemed | + | (7,444,384) | (101,328,110) | (6,613,737) | (94,577,536) | |||
Net transactions in fund shares | 847,594 | $10,975,019 | 2,577,764 | $37,090,157 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 37,434,125 | $536,380,273 | 34,856,361 | $499,165,404 | ||||
Total increase or decrease | + | 847,594 | (6,430,305) | 2,577,764 | 37,214,869 | |||
End of period | 38,281,719 | $529,949,968 | 37,434,125 | $536,380,273 | ||||
Net investment income not yet distributed | $4,225,519 | $3,585,956 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $14.11 | $14.54 | $13.63 | $11.73 | $10.84 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.20 1 | 0.19 1 | 0.21 | 0.21 | 0.19 | |
Net realized and unrealized gains (losses) | 0.06 | 0.15 | 0.93 | 1.93 | 0.89 | |
Total from investment operations | 0.26 | 0.34 | 1.14 | 2.14 | 1.08 | |
Less distributions: | ||||||
Distributions from net investment income | (0.26) | (0.32) | (0.23) | (0.24) | (0.19) | |
Distributions from net realized gains | (0.66) | (0.45) | — | — | — | |
Total distributions | (0.92) | (0.77) | (0.23) | (0.24) | (0.19) | |
Net asset value at end of period | $13.45 | $14.11 | $14.54 | $13.63 | $11.73 | |
Total return | 2.01% | 2.36% | 8.44% | 18.54% | 10.14% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.00% 3 | 0.00% 3 | — | — | 0.00% 3 | |
Gross operating expenses2 | 0.04% | 0.04% | 0.06% | 0.08% | 0.10% | |
Net investment income (loss) | 1.53% | 1.37% | 1.39% | 1.57% | 1.73% | |
Portfolio turnover rate | 5% | 21% | 27% | 10% | 13% | |
Net assets, end of period (x 1,000,000) | $443 | $409 | $344 | $251 | $141 | |
Holdings by Category | Cost ($) | Value ($) | |
97.8% | Other Investment Companies | 410,916,297 | 433,462,801 |
2.3% | Short-Term Investments | 9,972,034 | 9,972,034 |
100.1% | Total Investments | 420,888,331 | 443,434,835 |
(0.1%) | Other Assets and Liabilities, Net | (257,895) | |
100.0% | Net Assets | 443,176,940 |
Security | Number of Shares | Value ($) |
Other Investment Companies 97.8% of net assets | ||
Equity Funds 63.0% | ||
Global Real Estate 3.2% | ||
Schwab Global Real Estate Fund (a) | 1,979,164 | 14,170,816 |
International 16.2% | ||
Laudus International MarketMasters Fund, Select Shares (a) | 1,937,469 | 40,996,836 |
Laudus Mondrian Emerging Markets Fund, Institutional Shares (a) | 478,075 | 3,532,975 |
Schwab International Core Equity Fund (a) | 2,967,167 | 27,297,936 |
71,827,747 | ||
Large-Cap 39.4% | ||
Dodge & Cox Stock Fund | 23,284 | 4,010,360 |
Laudus U.S. Large Cap Growth Fund *(a) | 2,588,103 | 43,428,372 |
Schwab Core Equity Fund (a) | 2,433,088 | 47,810,186 |
Schwab Dividend Equity Fund (a) | 1,497,790 | 21,553,194 |
Schwab S&P 500 Index Fund (a) | 1,185,018 | 39,555,899 |
TCW Relative Value Large Cap Fund, Class I | 850,840 | 18,190,953 |
174,548,964 | ||
Small-Cap 4.2% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares *(a) | 391,494 | 6,479,220 |
Schwab Small-Cap Equity Fund (a) | 645,885 | 12,149,101 |
18,628,321 | ||
279,175,848 | ||
Fixed-Income Funds 33.4% | ||
Inflation-Protected Bond 0.8% | ||
Schwab Treasury Inflation Protected Securities Index Fund (a) | 320,824 | 3,631,723 |
Intermediate-Term Bond 27.9% | ||
Metropolitan West Total Return Bond Fund, Class I | 3,219,250 | 35,186,405 |
Natixis Loomis Sayles Investment Grade Bond Fund, Class Y Shares | 1,214,828 | 13,946,229 |
Security | Number of Shares | Value ($) |
Schwab Intermediate-Term Bond Fund (a) | 529,461 | 5,453,451 |
Schwab Total Bond Market Fund (a) | 6,258,996 | 60,399,312 |
Wells Fargo Core Bond Fund, Institutional Class | 652,896 | 8,546,411 |
123,531,808 | ||
International Bond 1.1% | ||
Laudus Mondrian International Government Fixed Income Fund *(a) | 513,430 | 5,047,012 |
Short-Term Bond 3.6% | ||
Schwab Short-Term Bond Market Fund (a) | 1,719,256 | 16,057,848 |
148,268,391 | ||
Money Market Fund 1.4% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.52% (a)(b) | 6,016,155 | 6,018,562 |
Total Other Investment Companies | ||
(Cost $410,916,297) | 433,462,801 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 2.3% of net assets | ||
Time Deposits 2.3% | ||
ING Bank | ||
0.15%, 11/01/16 (c) | 4,429,098 | 4,429,098 |
Skandinaviska Enskilda Banken | ||
0.15%, 11/01/16 (c) | 1,113,838 | 1,113,838 |
Sumitomo Mitsui Banking Corp. | ||
0.15%, 11/01/16 (c) | 4,429,098 | 4,429,098 |
Total Short-Term Investments | ||
(Cost $9,972,034) | 9,972,034 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the 7-day yield. |
(c) | The rate shown is the current daily overnight rate. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Other Investment Companies1 | $433,462,801 | $— | $— | $433,462,801 | |
Short-Term Investments1 | — | 9,972,034 | — | 9,972,034 | |
Total | $433,462,801 | $9,972,034 | $— | $443,434,835 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $335,526,566) | $353,582,443 | |
Investments in unaffiliated issuers, at value (cost $85,361,765) | + | 89,852,392 |
Total investments, at value (cost $420,888,331) | 443,434,835 | |
Receivables: | ||
Fund shares sold | 348,142 | |
Dividends | 203,151 | |
Due from investment adviser | 5,076 | |
Interest | 42 | |
Prepaid expenses | + | 12,389 |
Total assets | 444,003,635 | |
Liabilities | ||
Payables: | ||
Investments bought | 187,524 | |
Fund shares redeemed | 598,964 | |
Accrued expenses | + | 40,207 |
Total liabilities | 826,695 | |
Net Assets | ||
Total assets | 444,003,635 | |
Total liabilities | – | 826,695 |
Net assets | $443,176,940 | |
Net Assets by Source | ||
Capital received from investors | 403,726,485 | |
Net investment income not yet distributed | 2,939,375 | |
Net realized capital gains | 13,964,576 | |
Net unrealized capital appreciation | 22,546,504 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$443,176,940 | 32,960,335 | $13.45 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $5,153,048 | |
Dividends received from unaffiliated underlying funds | 1,358,600 | |
Interest | + | 12,338 |
Total investment income | 6,523,986 | |
Expenses | ||
Registration fees | 37,048 | |
Professional fees | 28,767 | |
Shareholder reports | 26,763 | |
Portfolio accounting fees | 19,280 | |
Transfer agent fees | 18,613 | |
Independent trustees' fees | 10,473 | |
Custodian fees | 7,442 | |
Proxy fees | 6,526 | |
Other expenses | + | 6,660 |
Total expenses | 161,572 | |
Expense reduction by CSIM | – | 155,046 |
Net expenses | – | 6,526 |
Net investment income | 6,517,460 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 15,095,428 | |
Realized capital gain distributions received from unaffiliated underlying funds | 1,382,989 | |
Net realized gains on sales of affiliated underlying funds | 628,824 | |
Net realized losses on sales of unaffiliated underlying funds | + | (14,537) |
Net realized gains | 17,092,704 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | (14,514,745) | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | 532,044 |
Net change in unrealized appreciation (depreciation) | + | (13,982,701) |
Net realized and unrealized gains | 3,110,003 | |
Increase in net assets resulting from operations | $9,627,463 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $6,517,460 | $5,277,755 | ||
Net realized gains | 17,092,704 | 21,852,024 | ||
Net change in unrealized appreciation (depreciation) | + | (13,982,701) | (18,943,147) | |
Increase in net assets from operations | 9,627,463 | 8,186,632 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (7,697,743) | (7,880,064) | ||
Distributions from net realized gains | + | (19,307,598) | (10,940,164) | |
Total distributions | ($27,005,341) | ($18,820,228) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 7,097,645 | $93,244,573 | 9,179,948 | $130,416,395 | ||||
Shares reinvested | 2,002,536 | 26,213,202 | 1,313,209 | 18,358,656 | ||||
Shares redeemed | + | (5,154,240) | (68,264,079) | (5,145,739) | (73,004,027) | |||
Net transactions in fund shares | 3,945,941 | $51,193,696 | 5,347,418 | $75,771,024 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 29,014,394 | $409,361,122 | 23,666,976 | $344,223,694 | ||||
Total increase | + | 3,945,941 | 33,815,818 | 5,347,418 | 65,137,428 | |||
End of period | 32,960,335 | $443,176,940 | 29,014,394 | $409,361,122 | ||||
Net investment income not yet distributed | $2,939,375 | $2,183,520 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $15.59 | $15.77 | $14.70 | $12.42 | $11.43 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.22 1 | 0.21 1 | 0.22 | 0.22 | 0.19 | |
Net realized and unrealized gains (losses) | 0.01 | 0.17 | 1.10 | 2.31 | 0.99 | |
Total from investment operations | 0.23 | 0.38 | 1.32 | 2.53 | 1.18 | |
Less distributions: | ||||||
Distributions from net investment income | (0.30) | (0.36) | (0.25) | (0.25) | (0.19) | |
Distributions from net realized gains | (1.01) | (0.20) | — | — | — | |
Total distributions | (1.31) | (0.56) | (0.25) | (0.25) | (0.19) | |
Net asset value at end of period | $14.51 | $15.59 | $15.77 | $14.70 | $12.42 | |
Total return | 1.72% | 2.44% | 9.11% | 20.73% | 10.52% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.00% 3 | 0.00% 3 | — | — | — | |
Gross operating expenses2 | 0.03% | 0.03% | 0.03% | 0.04% | 0.05% | |
Net investment income (loss) | 1.51% | 1.36% | 1.38% | 1.59% | 1.62% | |
Portfolio turnover rate | 5% | 19% | 26% | 10% | 12% | |
Net assets, end of period (x 1,000,000) | $814 | $789 | $727 | $621 | $444 | |
Holdings by Category | Cost ($) | Value ($) | |
98.0% | Other Investment Companies | 702,735,660 | 797,827,926 |
2.0% | Short-Term Investments | 16,090,621 | 16,090,621 |
100.0% | Total Investments | 718,826,281 | 813,918,547 |
0.0% | Other Assets and Liabilities, Net | 322,173 | |
100.0% | Net Assets | 814,240,720 |
Security | Number of Shares | Value ($) |
Other Investment Companies 98.0% of net assets | ||
Equity Funds 71.8% | ||
Global Real Estate 3.7% | ||
Schwab Global Real Estate Fund (a) | 4,195,068 | 30,036,684 |
International 18.9% | ||
Laudus International MarketMasters Fund, Select Shares (a) | 4,071,975 | 86,162,982 |
Laudus Mondrian Emerging Markets Fund, Institutional Shares (a) | 1,471,129 | 10,871,640 |
Schwab International Core Equity Fund (a) | 6,163,321 | 56,702,550 |
153,737,172 | ||
Large-Cap 43.9% | ||
Dodge & Cox Stock Fund | 38,554 | 6,640,565 |
Laudus U.S. Large Cap Growth Fund *(a) | 5,350,156 | 89,775,615 |
Schwab Core Equity Fund (a) | 4,983,750 | 97,930,681 |
Schwab Dividend Equity Fund (a) | 3,059,015 | 44,019,232 |
Schwab S&P 500 Index Fund (a) | 2,434,925 | 81,277,798 |
TCW Relative Value Large Cap Fund, Class I | 1,782,930 | 38,119,042 |
357,762,933 | ||
Small-Cap 5.3% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares *(a) | 911,800 | 15,090,289 |
Schwab Small-Cap Equity Fund (a) | 1,496,022 | 28,140,182 |
43,230,471 | ||
584,767,260 | ||
Fixed-Income Funds 25.4% | ||
Intermediate-Term Bond 22.3% | ||
Metropolitan West Total Return Bond Fund, Class I | 4,801,474 | 52,480,107 |
Natixis Loomis Sayles Investment Grade Bond Fund, Class Y Shares | 2,339,792 | 26,860,807 |
Security | Number of Shares | Value ($) |
Schwab Intermediate-Term Bond Fund (a) | 1,084,084 | 11,166,066 |
Schwab Total Bond Market Fund (a) | 8,413,016 | 81,185,606 |
Wells Fargo Core Bond Fund, Institutional Class | 794,927 | 10,405,596 |
182,098,182 | ||
International Bond 1.0% | ||
Laudus Mondrian International Government Fixed Income Fund *(a) | 819,346 | 8,054,170 |
Short-Term Bond 2.1% | ||
Schwab Short-Term Bond Market Fund (a) | 1,808,325 | 16,889,752 |
207,042,104 | ||
Money Market Fund 0.8% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.52% (a)(b) | 6,016,155 | 6,018,562 |
Total Other Investment Companies | ||
(Cost $702,735,660) | 797,827,926 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 2.0% of net assets | ||
Time Deposits 2.0% | ||
BNP Paribas | ||
0.15%, 11/01/16 (c) | 7,951,367 | 7,951,367 |
Sumitomo Mitsui Banking Corp. | ||
0.15%, 11/01/16 (c) | 8,139,254 | 8,139,254 |
Total Short-Term Investments | ||
(Cost $16,090,621) | 16,090,621 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the 7-day yield. |
(c) | The rate shown is the current daily overnight rate. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Other Investment Companies1 | $797,827,926 | $— | $— | $797,827,926 | |
Short-Term Investments1 | — | 16,090,621 | — | 16,090,621 | |
Total | $797,827,926 | $16,090,621 | $— | $813,918,547 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $579,369,514) | $663,321,809 | |
Investments in unaffiliated issuers, at value (cost $139,456,767) | + | 150,596,738 |
Total investments, at value (cost $718,826,281) | 813,918,547 | |
Receivables: | ||
Fund shares sold | 794,373 | |
Dividends | 279,581 | |
Due from investment adviser | 9,661 | |
Interest | 67 | |
Prepaid expenses | + | 16,347 |
Total assets | 815,018,576 | |
Liabilities | ||
Payables: | ||
Investments bought | 259,073 | |
Fund shares redeemed | 463,212 | |
Accrued expenses | + | 55,571 |
Total liabilities | 777,856 | |
Net Assets | ||
Total assets | 815,018,576 | |
Total liabilities | – | 777,856 |
Net assets | $814,240,720 | |
Net Assets by Source | ||
Capital received from investors | 685,845,933 | |
Net investment income not yet distributed | 4,651,679 | |
Net realized capital gains | 28,650,842 | |
Net unrealized capital appreciation | 95,092,266 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$814,240,720 | 56,107,502 | $14.51 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $9,746,606 | |
Dividends received from unaffiliated underlying funds | 2,298,623 | |
Interest | + | 21,324 |
Total investment income | 12,066,553 | |
Expenses | ||
Shareholder reports | 47,117 | |
Registration fees | 41,846 | |
Professional fees | 31,348 | |
Portfolio accounting fees | 24,109 | |
Transfer agent fees | 20,558 | |
Independent trustees' fees | 12,673 | |
Custodian fees | 12,377 | |
Proxy fees | 11,864 | |
Other expenses | + | 11,940 |
Total expenses | 213,832 | |
Expense reduction by CSIM | – | 201,968 |
Net expenses | – | 11,864 |
Net investment income | 12,054,689 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 32,482,355 | |
Realized capital gain distributions received from unaffiliated underlying funds | 2,710,054 | |
Net realized gains on sales of affiliated underlying funds | 1,752,883 | |
Net realized losses on sales of unaffiliated underlying funds | + | (126,163) |
Net realized gains | 36,819,129 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | (34,208,765) | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | 529,840 |
Net change in unrealized appreciation (depreciation) | + | (33,678,925) |
Net realized and unrealized gains | 3,140,204 | |
Increase in net assets resulting from operations | $15,194,893 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $12,054,689 | $10,410,471 | ||
Net realized gains | 36,819,129 | 57,648,422 | ||
Net change in unrealized appreciation (depreciation) | + | (33,678,925) | (50,365,678) | |
Increase in net assets from operations | 15,194,893 | 17,693,215 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (15,460,516) | (16,692,788) | ||
Distributions from net realized gains | + | (51,660,998) | (9,243,382) | |
Total distributions | ($67,121,514) | ($25,936,170) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 8,588,483 | $122,183,243 | 10,291,955 | $160,976,354 | ||||
Shares reinvested | 4,601,025 | 65,104,505 | 1,631,332 | 25,204,083 | ||||
Shares redeemed | + | (7,687,009) | (109,898,546) | (7,433,036) | (116,539,103) | |||
Net transactions in fund shares | 5,502,499 | $77,389,202 | 4,490,251 | $69,641,334 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 50,605,003 | $788,778,139 | 46,114,752 | $727,379,760 | ||||
Total increase | + | 5,502,499 | 25,462,581 | 4,490,251 | 61,398,379 | |||
End of period | 56,107,502 | $814,240,720 | 50,605,003 | $788,778,139 | ||||
Net investment income not yet distributed | $4,651,679 | $3,992,950 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $14.70 | $15.23 | $14.12 | $11.69 | $10.70 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.20 1 | 0.19 1 | 0.20 | 0.20 | 0.16 | |
Net realized and unrealized gains (losses) | 0.01 | 0.17 | 1.15 | 2.45 | 0.99 | |
Total from investment operations | 0.21 | 0.36 | 1.35 | 2.65 | 1.15 | |
Less distributions: | ||||||
Distributions from net investment income | (0.28) | (0.35) | (0.24) | (0.22) | (0.16) | |
Distributions from net realized gains | (0.81) | (0.54) | — | — | — | |
Total distributions | (1.09) | (0.89) | (0.24) | (0.22) | (0.16) | |
Net asset value at end of period | $13.82 | $14.70 | $15.23 | $14.12 | $11.69 | |
Total return | 1.63% | 2.43% | 9.62% | 23.02% | 10.89% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses2 | 0.00% 3 | 0.00% 3 | — | — | — | |
Gross operating expenses2 | 0.04% | 0.05% | 0.07% | 0.09% | 0.13% | |
Net investment income (loss) | 1.46% | 1.28% | 1.28% | 1.42% | 1.45% | |
Portfolio turnover rate | 3% | 14% | 24% | 5% | 11% | |
Net assets, end of period (x 1,000,000) | $361 | $337 | $282 | $204 | $111 | |
Holdings by Category | Cost ($) | Value ($) | |
97.7% | Other Investment Companies | 333,294,887 | 352,618,496 |
2.3% | Short-Term Investments | 8,190,161 | 8,190,161 |
100.0% | Total Investments | 341,485,048 | 360,808,657 |
0.0% | Other Assets and Liabilities, Net | 62,706 | |
100.0% | Net Assets | 360,871,363 |
Security | Number of Shares | Value ($) |
Other Investment Companies 97.7% of net assets | ||
Equity Funds 78.7% | ||
Global Real Estate 4.0% | ||
Schwab Global Real Estate Fund (a) | 2,007,148 | 14,371,177 |
International 21.1% | ||
Laudus International MarketMasters Fund, Select Shares (a) | 1,972,928 | 41,747,160 |
Laudus Mondrian Emerging Markets Fund, Institutional Shares (a) | 916,890 | 6,775,816 |
Schwab International Core Equity Fund (a) | 3,013,564 | 27,724,789 |
76,247,765 | ||
Large-Cap 47.3% | ||
Dodge & Cox Stock Fund | 22,055 | 3,798,839 |
Laudus U.S. Large Cap Growth Fund *(a) | 2,555,620 | 42,883,309 |
Schwab Core Equity Fund (a) | 2,370,394 | 46,578,245 |
Schwab Dividend Equity Fund (a) | 1,463,222 | 21,055,769 |
Schwab S&P 500 Index Fund (a) | 1,160,179 | 38,726,779 |
TCW Relative Value Large Cap Fund, Class I | 830,046 | 17,746,382 |
170,789,323 | ||
Small-Cap 6.3% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares *(a) | 481,347 | 7,966,291 |
Schwab Small-Cap Equity Fund (a) | 772,287 | 14,526,720 |
22,493,011 | ||
283,901,276 | ||
Fixed-Income Funds 18.6% | ||
Intermediate-Term Bond 16.8% | ||
Metropolitan West Total Return Bond Fund, Class I | 1,594,977 | 17,433,099 |
Natixis Loomis Sayles Investment Grade Bond Fund, Class Y Shares | 921,355 | 10,577,150 |
Schwab Intermediate-Term Bond Fund (a) | 445,033 | 4,583,842 |
Schwab Total Bond Market Fund (a) | 2,584,207 | 24,937,601 |
Wells Fargo Core Bond Fund, Institutional Class | 227,266 | 2,974,909 |
60,506,601 |
Security | Number of Shares | Value ($) |
International Bond 0.7% | ||
Laudus Mondrian International Government Fixed Income Fund *(a) | 267,860 | 2,633,062 |
Short-Term Bond 1.1% | ||
Schwab Short-Term Bond Market Fund (a) | 436,073 | 4,072,917 |
67,212,580 | ||
Money Market Fund 0.4% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.52% (a)(b) | 1,504,039 | 1,504,640 |
Total Other Investment Companies | ||
(Cost $333,294,887) | 352,618,496 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 2.3% of net assets | ||
Time Deposits 2.3% | ||
ING Bank | ||
0.15%, 11/01/16 (c) | 3,609,418 | 3,609,418 |
Skandinaviska Enskilda Banken | ||
0.15%, 11/01/16 (c) | 971,325 | 971,325 |
Sumitomo Mitsui Banking Corp. | ||
0.15%, 11/01/16 (c) | 3,609,418 | 3,609,418 |
Total Short-Term Investments | ||
(Cost $8,190,161) | 8,190,161 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the 7-day yield. |
(c) | The rate shown is the current daily overnight rate. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Other Investment Companies1 | $352,618,496 | $— | $— | $352,618,496 | |
Short-Term Investments1 | — | 8,190,161 | — | 8,190,161 | |
Total | $352,618,496 | $8,190,161 | $— | $360,808,657 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $285,063,794) | $300,088,117 | |
Investments in unaffiliated issuers, at value (cost $56,421,254) | + | 60,720,540 |
Total investments, at value (cost $341,485,048) | 360,808,657 | |
Receivables: | ||
Fund shares sold | 255,457 | |
Dividends | 87,991 | |
Due from investment adviser | 3,464 | |
Interest | 34 | |
Prepaid expenses | + | 8,842 |
Total assets | 361,164,445 | |
Liabilities | ||
Payables: | ||
Investments bought | 81,740 | |
Fund shares redeemed | 171,688 | |
Accrued expenses | + | 39,654 |
Total liabilities | 293,082 | |
Net Assets | ||
Total assets | 361,164,445 | |
Total liabilities | – | 293,082 |
Net assets | $360,871,363 | |
Net Assets by Source | ||
Capital received from investors | 326,364,712 | |
Net investment income not yet distributed | 1,734,750 | |
Net realized capital gains | 13,448,292 | |
Net unrealized capital appreciation | 19,323,609 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$360,871,363 | 26,115,948 | $13.82 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $4,215,396 | |
Dividends received from unaffiliated underlying funds | 863,310 | |
Interest | + | 9,049 |
Total investment income | 5,087,755 | |
Expenses | ||
Registration fees | 31,000 | |
Professional fees | 28,252 | |
Shareholder reports | 26,173 | |
Transfer agent fees | 18,973 | |
Portfolio accounting fees | 18,200 | |
Independent trustees' fees | 10,006 | |
Proxy fees | 6,552 | |
Custodian fees | 5,749 | |
Other expenses | + | 5,686 |
Total expenses | 150,591 | |
Expense reduction by CSIM | – | 144,039 |
Net expenses | – | 6,552 |
Net investment income | 5,081,203 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 15,078,302 | |
Realized capital gain distributions received from unaffiliated underlying funds | 1,149,908 | |
Net realized losses on sales of affiliated underlying funds | (17,312) | |
Net realized gains on sales of unaffiliated underlying funds | + | 18,869 |
Net realized gains | 16,229,767 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | (14,564,906) | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | 146,670 |
Net change in unrealized appreciation (depreciation) | + | (14,418,236) |
Net realized and unrealized gains | 1,811,531 | |
Increase in net assets resulting from operations | $6,892,734 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $5,081,203 | $4,021,662 | ||
Net realized gains | 16,229,767 | 21,580,438 | ||
Net change in unrealized appreciation (depreciation) | + | (14,418,236) | (19,013,610) | |
Increase in net assets from operations | 6,892,734 | 6,588,490 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (6,503,748) | (6,621,678) | ||
Distributions from net realized gains | + | (18,968,293) | (10,314,099) | |
Total distributions | ($25,472,041) | ($16,935,777) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 5,272,101 | $71,143,858 | 6,655,837 | $98,662,330 | ||||
Shares reinvested | 1,840,004 | 24,821,651 | 1,133,588 | 16,527,714 | ||||
Shares redeemed | + | (3,924,580) | (53,511,419) | (3,359,991) | (49,645,929) | |||
Net transactions in fund shares | 3,187,525 | $42,454,090 | 4,429,434 | $65,544,115 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 22,928,423 | $336,996,580 | 18,498,989 | $281,799,752 | ||||
Total increase | + | 3,187,525 | 23,874,783 | 4,429,434 | 55,196,828 | |||
End of period | 26,115,948 | $360,871,363 | 22,928,423 | $336,996,580 | ||||
Net investment income not yet distributed | $1,734,750 | $1,315,291 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 11/1/12– 10/31/13 | 11/1/11– 10/31/12 | ||
Per-Share Data | ||||||
Net asset value at beginning of period | $16.42 | $16.77 | $15.49 | $12.67 | $11.55 | |
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.22 1 | 0.21 1 | 0.21 | 0.22 | 0.17 | |
Net realized and unrealized gains (losses) | (0.03) 2 | 0.20 | 1.33 | 2.84 | 1.12 | |
Total from investment operations | 0.19 | 0.41 | 1.54 | 3.06 | 1.29 | |
Less distributions: | ||||||
Distributions from net investment income | (0.32) | (0.39) | (0.26) | (0.24) | (0.17) | |
Distributions from net realized gains | (1.17) | (0.37) | — | — | — | |
Total distributions | (1.49) | (0.76) | (0.26) | (0.24) | (0.17) | |
Net asset value at end of period | $15.12 | $16.42 | $16.77 | $15.49 | $12.67 | |
Total return | 1.38% | 2.48% | 10.07% | 24.55% | 11.33% | |
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses3 | 0.00% 4 | 0.00% 4 | — | — | — | |
Gross operating expenses3 | 0.03% | 0.03% | 0.04% | 0.04% | 0.06% | |
Net investment income (loss) | 1.45% | 1.27% | 1.26% | 1.47% | 1.42% | |
Portfolio turnover rate | 4% | 13% | 23% | 6% | 12% | |
Net assets, end of period (x 1,000,000) | $841 | $834 | $768 | $639 | $435 | |
Holdings by Category | Cost ($) | Value ($) | |
97.8% | Other Investment Companies | 725,329,260 | 823,111,472 |
2.2% | Short-Term Investments | 18,264,950 | 18,264,950 |
100.0% | Total Investments | 743,594,210 | 841,376,422 |
0.0% | Other Assets and Liabilities, Net | 104,616 | |
100.0% | Net Assets | 841,481,038 |
Security | Number of Shares | Value ($) |
Other Investment Companies 97.8% of net assets | ||
Equity Funds 85.6% | ||
Global Real Estate 4.4% | ||
Schwab Global Real Estate Fund (a) | 5,214,413 | 37,335,200 |
International 23.4% | ||
Laudus International MarketMasters Fund, Select Shares (a) | 5,015,124 | 106,120,019 |
Laudus Mondrian Emerging Markets Fund, Institutional Shares (a) | 2,844,569 | 21,021,364 |
Schwab International Core Equity Fund (a) | 7,577,005 | 69,708,448 |
196,849,831 | ||
Large-Cap 50.4% | ||
Dodge & Cox Stock Fund | 51,627 | 8,892,163 |
Laudus U.S. Large Cap Growth Fund *(a) | 6,340,489 | 106,393,409 |
Schwab Core Equity Fund (a) | 5,897,454 | 115,884,981 |
Schwab Dividend Equity Fund (a) | 3,605,589 | 51,884,425 |
Schwab S&P 500 Index Fund (a) | 2,877,175 | 96,040,095 |
TCW Relative Value Large Cap Fund, Class I | 2,084,971 | 44,576,681 |
423,671,754 | ||
Small-Cap 7.4% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares *(a) | 1,311,540 | 21,705,993 |
Schwab Small-Cap Equity Fund (a) | 2,164,424 | 40,712,818 |
62,418,811 | ||
720,275,596 | ||
Fixed-Income Funds 12.1% | ||
Intermediate-Term Bond 11.2% | ||
Metropolitan West Total Return Bond Fund, Class I | 2,434,663 | 26,610,868 |
Natixis Loomis Sayles Investment Grade Bond Fund, Class Y Shares | 1,689,277 | 19,392,904 |
Schwab Intermediate-Term Bond Fund (a) | 895,999 | 9,228,789 |
Schwab Total Bond Market Fund (a) | 3,699,235 | 35,697,621 |
Wells Fargo Core Bond Fund, Institutional Class | 270,117 | 3,535,834 |
94,466,016 |
Security | Number of Shares | Value ($) |
International Bond 0.4% | ||
Laudus Mondrian International Government Fixed Income Fund *(a) | 371,078 | 3,647,693 |
Short-Term Bond 0.5% | ||
Schwab Short-Term Bond Market Fund (a) | 398,188 | 3,719,073 |
101,832,782 | ||
Money Market Fund 0.1% | ||
Schwab Variable Share Price Money Fund, Ultra Shares 0.52% (a)(b) | 1,002,693 | 1,003,094 |
Total Other Investment Companies | ||
(Cost $725,329,260) | 823,111,472 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 2.2% of net assets | ||
Time Deposits 2.2% | ||
Australia & New Zealand Banking Group Ltd. | ||
0.15%, 11/01/16 (c) | 1,435,538 | 1,435,538 |
BNP Paribas | ||
0.15%, 11/01/16 (c) | 8,414,706 | 8,414,706 |
ING Bank | ||
0.15%, 11/01/16 (c) | 8,414,706 | 8,414,706 |
Total Short-Term Investments | ||
(Cost $18,264,950) | 18,264,950 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the 7-day yield. |
(c) | The rate shown is the current daily overnight rate. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Other Investment Companies1 | $823,111,472 | $— | $— | $823,111,472 | |
Short-Term Investments1 | — | 18,264,950 | — | 18,264,950 | |
Total | $823,111,472 | $18,264,950 | $— | $841,376,422 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $636,042,018) | $720,103,022 | |
Investments in unaffiliated issuers, at value (cost $107,552,192) | + | 121,273,400 |
Total investments, at value (cost $743,594,210) | 841,376,422 | |
Receivables: | ||
Fund shares sold | 504,421 | |
Dividends | 128,989 | |
Due from investment adviser | 10,110 | |
Interest | 76 | |
Prepaid expenses | + | 16,018 |
Total assets | 842,036,036 | |
Liabilities | ||
Payables: | ||
Investments bought | 120,192 | |
Fund shares redeemed | 366,138 | |
Accrued expenses | + | 68,668 |
Total liabilities | 554,998 | |
Net Assets | ||
Total assets | 842,036,036 | |
Total liabilities | – | 554,998 |
Net assets | $841,481,038 | |
Net Assets by Source | ||
Capital received from investors | 703,214,432 | |
Net investment income not yet distributed | 3,342,015 | |
Net realized capital gains | 37,142,379 | |
Net unrealized capital appreciation | 97,782,212 |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$841,481,038 | 55,659,649 | $15.12 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $10,350,809 | |
Dividends received from unaffiliated underlying funds | 1,658,505 | |
Interest | + | 21,421 |
Total investment income | 12,030,735 | |
Expenses | ||
Shareholder reports | 71,171 | |
Registration fees | 38,930 | |
Professional fees | 31,585 | |
Transfer agent fees | 26,161 | |
Portfolio accounting fees | 24,482 | |
Proxy fees | 19,332 | |
Independent trustees' fees | 12,857 | |
Custodian fees | 12,087 | |
Other expenses | + | 12,626 |
Total expenses | 249,231 | |
Expense reduction by CSIM | – | 229,899 |
Net expenses | – | 19,332 |
Net investment income | 12,011,403 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 40,136,707 | |
Realized capital gain distributions received from unaffiliated underlying funds | 2,714,346 | |
Net realized gains on sales of affiliated underlying funds | 3,555,228 | |
Net realized losses on sales of unaffiliated underlying funds | + | (17,328) |
Net realized gains | 46,388,953 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | (45,623,794) | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | (357,976) |
Net change in unrealized appreciation (depreciation) | + | (45,981,770) |
Net realized and unrealized gains | 407,183 | |
Increase in net assets resulting from operations | $12,418,586 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $12,011,403 | $10,276,097 | ||
Net realized gains | 46,388,953 | 67,481,325 | ||
Net change in unrealized appreciation (depreciation) | + | (45,981,770) | (58,765,404) | |
Increase in net assets from operations | 12,418,586 | 18,992,018 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (16,331,843) | (18,123,716) | ||
Distributions from net realized gains | + | (60,050,458) | (16,937,962) | |
Total distributions | ($76,382,301) | ($35,061,678) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 7,586,960 | $112,421,088 | 9,498,363 | $156,723,911 | ||||
Shares reinvested | 5,048,206 | 74,662,962 | 2,105,777 | 34,303,111 | ||||
Shares redeemed | + | (7,812,359) | (116,129,400) | (6,579,336) | (108,941,688) | |||
Net transactions in fund shares | 4,822,807 | $70,954,650 | 5,024,804 | $82,085,334 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 50,836,842 | $834,490,103 | 45,812,038 | $768,474,429 | ||||
Total increase | + | 4,822,807 | 6,990,935 | 5,024,804 | 66,015,674 | |||
End of period | 55,659,649 | $841,481,038 | 50,836,842 | $834,490,103 | ||||
Net investment income not yet distributed | $3,342,015 | $2,851,945 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 1/23/13 1– 10/31/13 | |||
Per-Share Data | ||||||
Net asset value at beginning of period | $12.51 | $12.67 | $11.66 | $10.00 | ||
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.16 2 | 0.14 2 | 0.16 | 0.02 | ||
Net realized and unrealized gains (losses) | 0.00 3 | 0.15 | 1.03 | 1.64 | ||
Total from investment operations | 0.16 | 0.29 | 1.19 | 1.66 | ||
Less distributions: | ||||||
Distributions from net investment income | (0.23) | (0.29) | (0.18) | — | ||
Distributions from net realized gains | (0.44) | (0.16) | — | — | ||
Total distributions | (0.67) | (0.45) | (0.18) | — | ||
Net asset value at end of period | $12.00 | $12.51 | $12.67 | $11.66 | ||
Total return | 1.40% | 2.37% | 10.30% | 16.60% 4 | ||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses5 | 0.00% 6 | 0.00% 6 | — | 0.00% 7,8 | ||
Gross operating expenses5 | 0.13% | 0.20% | 0.32% | 1.08% 7 | ||
Net investment income (loss) | 1.34% | 1.09% | 1.03% | 0.46% 7 | ||
Portfolio turnover rate | 1% | 10% | 23% | 39% 4 | ||
Net assets, end of period (x 1,000,000) | $82 | $66 | $41 | $18 | ||
Holdings by Category | Cost ($) | Value ($) | |
97.8% | Other Investment Companies | 82,180,320 | 80,052,089 |
2.1% | Short-Term Investments | 1,744,199 | 1,744,199 |
99.9% | Total Investments | 83,924,519 | 81,796,288 |
0.1% | Other Assets and Liabilities, Net | 90,468 | |
100.0% | Net Assets | 81,886,756 |
Security | Number of Shares | Value ($) |
Other Investment Companies 97.8% of net assets | ||
Equity Funds 89.2% | ||
Global Real Estate 4.4% | ||
Schwab Global Real Estate Fund (a) | 510,061 | 3,652,035 |
International 25.0% | ||
Laudus International MarketMasters Fund, Select Shares (a) | 508,866 | 10,767,602 |
Laudus Mondrian Emerging Markets Fund, Institutional Shares (a) | 326,696 | 2,414,281 |
Schwab International Core Equity Fund (a) | 791,812 | 7,284,677 |
20,466,560 | ||
Large-Cap 51.7% | ||
Dodge & Cox Stock Fund | 8,143 | 1,402,487 |
Laudus U.S. Large Cap Growth Fund *(a) | 629,495 | 10,562,930 |
Schwab Core Equity Fund (a) | 594,275 | 11,677,503 |
Schwab Dividend Equity Fund (a) | 363,102 | 5,225,044 |
Schwab S&P 500 Index Fund (a) | 286,728 | 9,570,973 |
TCW Relative Value Large Cap Fund, Class I | 181,725 | 3,885,276 |
42,324,213 | ||
Small-Cap 8.1% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares *(a) | 138,358 | 2,289,835 |
Schwab Small-Cap Equity Fund (a) | 230,129 | 4,328,721 |
6,618,556 | ||
73,061,364 | ||
Fixed-Income Funds 8.6% | ||
Intermediate-Term Bond 8.0% | ||
Metropolitan West Total Return Bond Fund, Class I | 156,752 | 1,713,301 |
Natixis Loomis Sayles Investment Grade Bond Fund, Class Y Shares | 131,221 | 1,506,418 |
Security | Number of Shares | Value ($) |
Schwab Intermediate-Term Bond Fund (a) | 72,332 | 745,019 |
Schwab Total Bond Market Fund (a) | 239,299 | 2,309,233 |
Wells Fargo Core Bond Fund, Institutional Class | 19,835 | 259,636 |
6,533,607 | ||
International Bond 0.4% | ||
Laudus Mondrian International Government Fixed Income Fund *(a) | 27,675 | 272,045 |
Short-Term Bond 0.2% | ||
Schwab Short-Term Bond Market Fund (a) | 19,815 | 185,073 |
6,990,725 | ||
Total Other Investment Companies | ||
(Cost $82,180,320) | 80,052,089 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 2.1% of net assets | ||
Time Deposits 2.1% | ||
BNP Paribas | ||
0.15%, 11/01/16 (b) | 108,117 | 108,117 |
ING Bank | ||
0.15%, 11/01/16 (b) | 818,041 | 818,041 |
Sumitomo Mitsui Banking Corp. | ||
0.15%, 11/01/16 (b) | 818,041 | 818,041 |
Total Short-Term Investments | ||
(Cost $1,744,199) | 1,744,199 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the current daily overnight rate. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Other Investment Companies1 | $80,052,089 | $— | $— | $80,052,089 | |
Short-Term Investments1 | — | 1,744,199 | — | 1,744,199 | |
Total | $80,052,089 | $1,744,199 | $— | $81,796,288 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $73,665,751) | $71,284,971 | |
Investments in unaffiliated issuers, at value (cost $10,258,768) | + | 10,511,317 |
Total investments, at value (cost $83,924,519) | 81,796,288 | |
Receivables: | ||
Fund shares sold | 145,042 | |
Dividends | 8,537 | |
Prepaid expenses | + | 5,113 |
Total assets | 81,954,980 | |
Liabilities | ||
Payables: | ||
Investments bought | 7,954 | |
Fund shares redeemed | 33,906 | |
Accrued expenses | + | 26,364 |
Total liabilities | 68,224 | |
Net Assets | ||
Total assets | 81,954,980 | |
Total liabilities | – | 68,224 |
Net assets | $81,886,756 | |
Net Assets by Source | ||
Capital received from investors | 80,947,291 | |
Net investment income not yet distributed | 264,792 | |
Net realized capital gains | 2,802,904 | |
Net unrealized capital depreciation | (2,128,231) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$81,886,756 | 6,821,879 | $12.00 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $859,202 | |
Dividends received from unaffiliated underlying funds | 121,891 | |
Interest | + | 2,085 |
Total investment income | 983,178 | |
Expenses | ||
Professional fees | 26,396 | |
Registration fees | 19,813 | |
Shareholder reports | 12,975 | |
Transfer agent fees | 12,414 | |
Independent trustees' fees | 8,372 | |
Portfolio accounting fees | 5,514 | |
Custodian fees | 4,208 | |
Proxy fees | 3,166 | |
Other expenses | + | 1,968 |
Total expenses | 94,826 | |
Expense reduction by CSIM | – | 91,660 |
Net expenses | – | 3,166 |
Net investment income | 980,012 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 3,357,383 | |
Realized capital gain distributions received from unaffiliated underlying funds | 212,746 | |
Net realized losses on sales of affiliated underlying funds | + | (110,630) |
Net realized gains | 3,459,499 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | (2,951,748) | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | 26,872 |
Net change in unrealized appreciation (depreciation) | + | (2,924,876) |
Net realized and unrealized gains | 534,623 | |
Increase in net assets resulting from operations | $1,514,635 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $980,012 | $596,917 | ||
Net realized gains | 3,459,499 | 2,629,910 | ||
Net change in unrealized appreciation (depreciation) | + | (2,924,876) | (2,376,906) | |
Increase in net assets from operations | 1,514,635 | 849,921 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (1,239,407) | (1,032,882) | ||
Distributions from net realized gains | + | (2,410,714) | (569,067) | |
Total distributions | ($3,650,121) | ($1,601,949) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 2,277,183 | $26,554,975 | 2,576,788 | $32,462,188 | ||||
Shares reinvested | 304,143 | 3,570,641 | 125,756 | 1,561,897 | ||||
Shares redeemed | + | (1,020,715) | (11,929,960) | (677,473) | (8,446,952) | |||
Net transactions in fund shares | 1,560,611 | $18,195,656 | 2,025,071 | $25,577,133 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 5,261,268 | $65,826,586 | 3,236,197 | $41,001,481 | ||||
Total increase | + | 1,560,611 | 16,060,170 | 2,025,071 | 24,825,105 | |||
End of period | 6,821,879 | $81,886,756 | 5,261,268 | $65,826,586 | ||||
Net investment income not yet distributed | $264,792 | $124,813 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 1/23/13 1– 10/31/13 | |||
Per-Share Data | ||||||
Net asset value at beginning of period | $12.60 | $12.75 | $11.72 | $10.00 | ||
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.15 2 | 0.13 2 | 0.17 | 0.02 | ||
Net realized and unrealized gains (losses) | 0.01 | 0.18 | 1.04 | 1.70 | ||
Total from investment operations | 0.16 | 0.31 | 1.21 | 1.72 | ||
Less distributions: | ||||||
Distributions from net investment income | (0.23) | (0.30) | (0.18) | — | ||
Distributions from net realized gains | (0.45) | (0.16) | — | — | ||
Total distributions | (0.68) | (0.46) | (0.18) | — | ||
Net asset value at end of period | $12.08 | $12.60 | $12.75 | $11.72 | ||
Total return | 1.39% | 2.44% | 10.43% | 17.20% 3 | ||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses4 | 0.01% 5 | 0.00% 6 | — | 0.00% 7,8 | ||
Gross operating expenses4 | 0.16% | 0.25% | 0.39% | 1.37% 7 | ||
Net investment income (loss) | 1.31% | 1.05% | 0.99% | 0.40% 7 | ||
Portfolio turnover rate | 1% | 8% | 23% | 40% 3 | ||
Net assets, end of period (x 1,000,000) | $68 | $53 | $33 | $14 | ||
Holdings by Category | Cost ($) | Value ($) | |
98.0% | Other Investment Companies | 68,403,618 | 66,696,460 |
2.4% | Short-Term Investments | 1,609,751 | 1,609,751 |
100.4% | Total Investments | 70,013,369 | 68,306,211 |
(0.4%) | Other Assets and Liabilities, Net | (242,411) | |
100.0% | Net Assets | 68,063,800 |
Security | Number of Shares | Value ($) |
Other Investment Companies 98.0% of net assets | ||
Equity Funds 92.0% | ||
Global Real Estate 4.5% | ||
Schwab Global Real Estate Fund (a) | 432,848 | 3,099,188 |
International 25.9% | ||
Laudus International MarketMasters Fund, Select Shares (a) | 437,758 | 9,262,962 |
Laudus Mondrian Emerging Markets Fund, Institutional Shares (a) | 291,463 | 2,153,911 |
Schwab International Core Equity Fund (a) | 674,116 | 6,201,865 |
17,618,738 | ||
Large-Cap 52.7% | ||
Dodge & Cox Stock Fund | 7,266 | 1,251,512 |
Laudus U.S. Large Cap Growth Fund *(a) | 533,054 | 8,944,650 |
Schwab Core Equity Fund (a) | 502,864 | 9,881,275 |
Schwab Dividend Equity Fund (a) | 307,158 | 4,420,009 |
Schwab S&P 500 Index Fund (a) | 243,202 | 8,118,083 |
TCW Relative Value Large Cap Fund, Class I | 152,987 | 3,270,861 |
35,886,390 | ||
Small-Cap 8.9% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares *(a) | 132,033 | 2,185,140 |
Schwab Small-Cap Equity Fund (a) | 204,300 | 3,842,882 |
6,028,022 | ||
62,632,338 | ||
Fixed-Income Funds 6.0% | ||
Intermediate-Term Bond 5.7% | ||
Metropolitan West Total Return Bond Fund, Class I | 90,084 | 984,624 |
Natixis Loomis Sayles Investment Grade Bond Fund, Class Y Shares | 81,337 | 933,752 |
Security | Number of Shares | Value ($) |
Schwab Intermediate-Term Bond Fund (a) | 46,123 | 475,066 |
Schwab Total Bond Market Fund (a) | 142,131 | 1,371,563 |
Wells Fargo Core Bond Fund, Institutional Class | 9,326 | 122,081 |
3,887,086 | ||
International Bond 0.2% | ||
Laudus Mondrian International Government Fixed Income Fund *(a) | 10,611 | 104,310 |
Short-Term Bond 0.1% | ||
Schwab Short-Term Bond Market Fund (a) | 7,787 | 72,726 |
4,064,122 | ||
Total Other Investment Companies | ||
(Cost $68,403,618) | 66,696,460 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 2.4% of net assets | ||
Time Deposits 2.4% | ||
ING Bank | ||
0.15%, 11/01/16 (b) | 679,638 | 679,638 |
Skandinaviska Enskilda Banken | ||
0.15%, 11/01/16 (b) | 250,475 | 250,475 |
Sumitomo Mitsui Banking Corp. | ||
0.15%, 11/01/16 (b) | 679,638 | 679,638 |
Total Short-Term Investments | ||
(Cost $1,609,751) | 1,609,751 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the current daily overnight rate. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Other Investment Companies1 | $66,696,460 | $— | $— | $66,696,460 | |
Short-Term Investments1 | — | 1,609,751 | — | 1,609,751 | |
Total | $66,696,460 | $1,609,751 | $— | $68,306,211 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $62,064,245) | $60,133,630 | |
Investments in unaffiliated issuers, at value (cost $7,949,124) | + | 8,172,581 |
Total investments, at value (cost $70,013,369) | 68,306,211 | |
Receivables: | ||
Fund shares sold | 105,165 | |
Dividends | 4,993 | |
Prepaid expenses | + | 3,714 |
Total assets | 68,420,083 | |
Liabilities | ||
Payables: | ||
Investments bought | 304,647 | |
Fund shares redeemed | 25,129 | |
Accrued expenses | + | 26,507 |
Total liabilities | 356,283 | |
Net Assets | ||
Total assets | 68,420,083 | |
Total liabilities | – | 356,283 |
Net assets | $68,063,800 | |
Net Assets by Source | ||
Capital received from investors | 67,186,635 | |
Net investment income not yet distributed | 194,591 | |
Net realized capital gains | 2,389,732 | |
Net unrealized capital depreciation | (1,707,158) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$68,063,800 | 5,634,909 | $12.08 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $698,068 | |
Dividends received from unaffiliated underlying funds | 85,503 | |
Interest | + | 1,659 |
Total investment income | 785,230 | |
Expenses | ||
Professional fees | 26,315 | |
Registration fees | 18,246 | |
Shareholder reports | 13,527 | |
Transfer agent fees | 12,645 | |
Independent trustees' fees | 8,291 | |
Portfolio accounting fees | 5,330 | |
Custodian fees | 4,260 | |
Proxy fees | 3,207 | |
Other expenses | + | 1,845 |
Total expenses | 93,666 | |
Expense reduction by CSIM | – | 90,459 |
Net expenses | – | 3,207 |
Net investment income | 782,023 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 2,789,648 | |
Realized capital gain distributions received from unaffiliated underlying funds | 171,625 | |
Net realized losses on sales of affiliated underlying funds | (78,145) | |
Net realized losses on sales of unaffiliated underlying funds | + | (312) |
Net realized gains | 2,882,816 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | (2,406,336) | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | 18,544 |
Net change in unrealized appreciation (depreciation) | + | (2,387,792) |
Net realized and unrealized gains | 495,024 | |
Increase in net assets resulting from operations | $1,277,047 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $782,023 | $468,843 | ||
Net realized gains | 2,882,816 | 2,221,915 | ||
Net change in unrealized appreciation (depreciation) | + | (2,387,792) | (1,922,577) | |
Increase in net assets from operations | 1,277,047 | 768,181 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (1,001,880) | (830,660) | ||
Distributions from net realized gains | + | (1,983,116) | (451,787) | |
Total distributions | ($2,984,996) | ($1,282,447) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 1,940,302 | $22,754,852 | 2,053,340 | $26,056,935 | ||||
Shares reinvested | 245,062 | 2,894,189 | 100,456 | 1,256,702 | ||||
Shares redeemed | + | (746,622) | (8,754,679) | (583,556) | (7,414,061) | |||
Net transactions in fund shares | 1,438,742 | $16,894,362 | 1,570,240 | $19,899,576 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 4,196,167 | $52,877,387 | 2,625,927 | $33,492,077 | ||||
Total increase | + | 1,438,742 | 15,186,413 | 1,570,240 | 19,385,310 | |||
End of period | 5,634,909 | $68,063,800 | 4,196,167 | $52,877,387 | ||||
Net investment income not yet distributed | $194,591 | $84,614 |
11/1/15– 10/31/16 | 11/1/14– 10/31/15 | 11/1/13– 10/31/14 | 1/23/13 1– 10/31/13 | |||
Per-Share Data | ||||||
Net asset value at beginning of period | $12.63 | $12.79 | $11.74 | $10.00 | ||
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.15 2 | 0.13 2 | 0.16 | 0.02 | ||
Net realized and unrealized gains (losses) | 0.00 3 | 0.17 | 1.07 | 1.72 | ||
Total from investment operations | 0.15 | 0.30 | 1.23 | 1.74 | ||
Less distributions: | ||||||
Distributions from net investment income | (0.23) | (0.30) | (0.18) | — | ||
Distributions from net realized gains | (0.46) | (0.16) | — | — | ||
Total distributions | (0.69) | (0.46) | (0.18) | — | ||
Net asset value at end of period | $12.09 | $12.63 | $12.79 | $11.74 | ||
Total return | 1.28% | 2.36% | 10.59% | 17.40% 4 | ||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses5 | 0.01% 6 | 0.00% 7 | — | 0.00% 8,9 | ||
Gross operating expenses5 | 0.27% | 0.44% | 0.68% | 2.78% 9 | ||
Net investment income (loss) | 1.26% | 1.03% | 0.94% | 0.34% 9 | ||
Portfolio turnover rate | 1% | 8% | 29% | 12% 4 | ||
Net assets, end of period (x 1,000,000) | $38 | $29 | $18 | $7 | ||
Holdings by Category | Cost ($) | Value ($) | |
98.0% | Other Investment Companies | 38,469,440 | 37,505,199 |
1.9% | Short-Term Investments | 720,325 | 720,325 |
99.9% | Total Investments | 39,189,765 | 38,225,524 |
0.1% | Other Assets and Liabilities, Net | 35,333 | |
100.0% | Net Assets | 38,260,857 |
Security | Number of Shares | Value ($) |
Other Investment Companies 98.0% of net assets | ||
Equity Funds 94.5% | ||
Global Real Estate 4.8% | ||
Schwab Global Real Estate Fund (a) | 255,184 | 1,827,115 |
International 26.9% | ||
Laudus International MarketMasters Fund, Select Shares (a) | 253,229 | 5,358,317 |
Laudus Mondrian Emerging Markets Fund, Institutional Shares (a) | 181,271 | 1,339,593 |
Schwab International Core Equity Fund (a) | 389,951 | 3,587,551 |
10,285,461 | ||
Large-Cap 53.5% | ||
Dodge & Cox Stock Fund | 4,412 | 759,873 |
Laudus U.S. Large Cap Growth Fund *(a) | 304,056 | 5,102,062 |
Schwab Core Equity Fund (a) | 285,238 | 5,604,930 |
Schwab Dividend Equity Fund (a) | 176,609 | 2,541,409 |
Schwab S&P 500 Index Fund (a) | 139,575 | 4,658,999 |
TCW Relative Value Large Cap Fund, Class I | 84,524 | 1,807,128 |
20,474,401 | ||
Small-Cap 9.3% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares *(a) | 74,976 | 1,240,857 |
Schwab Small-Cap Equity Fund (a) | 123,887 | 2,330,311 |
3,571,168 | ||
36,158,145 | ||
Fixed-Income Funds 3.5% | ||
Intermediate-Term Bond 3.4% | ||
Metropolitan West Total Return Bond Fund, Class I | 29,434 | 321,711 |
Natixis Loomis Sayles Investment Grade Bond Fund, Class Y Shares | 27,319 | 313,622 |
Security | Number of Shares | Value ($) |
Schwab Intermediate-Term Bond Fund (a) | 16,060 | 165,418 |
Schwab Total Bond Market Fund (a) | 46,142 | 445,273 |
Wells Fargo Core Bond Fund, Institutional Class | 2,763 | 36,169 |
1,282,193 | ||
International Bond 0.1% | ||
Laudus Mondrian International Government Fixed Income Fund *(a) | 5,883 | 57,828 |
Short-Term Bond 0.0% | ||
Schwab Short-Term Bond Market Fund (a) | 753 | 7,033 |
1,347,054 | ||
Total Other Investment Companies | ||
(Cost $38,469,440) | 37,505,199 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 1.9% of net assets | ||
Time Deposits 1.9% | ||
ING Bank | ||
0.15%, 11/01/16 (b) | 338,115 | 338,115 |
Sumitomo Mitsui Banking Corp. | ||
0.15%, 11/01/16 (b) | 382,210 | 382,210 |
Total Short-Term Investments | ||
(Cost $720,325) | 720,325 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the current daily overnight rate. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Other Investment Companies1 | $37,505,199 | $— | $— | $37,505,199 | |
Short-Term Investments1 | — | 720,325 | — | 720,325 | |
Total | $37,505,199 | $720,325 | $— | $38,225,524 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $35,363,209) | $34,266,696 | |
Investments in unaffiliated issuers, at value (cost $3,826,556) | + | 3,958,828 |
Total investments, at value (cost $39,189,765) | 38,225,524 | |
Receivables: | ||
Fund shares sold | 77,079 | |
Dividends | 1,600 | |
Prepaid expenses | + | 2,383 |
Total assets | 38,306,586 | |
Liabilities | ||
Payables: | ||
Investments bought | 1,489 | |
Fund shares redeemed | 17,594 | |
Accrued expenses | + | 26,646 |
Total liabilities | 45,729 | |
Net Assets | ||
Total assets | 38,306,586 | |
Total liabilities | – | 45,729 |
Net assets | $38,260,857 | |
Net Assets by Source | ||
Capital received from investors | 37,795,376 | |
Net investment income not yet distributed | 96,614 | |
Net realized capital gains | 1,333,108 | |
Net unrealized capital depreciation | (964,241) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$38,260,857 | 3,163,843 | $12.09 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $381,966 | |
Dividends received from unaffiliated underlying funds | 38,732 | |
Interest | + | 914 |
Total investment income | 421,612 | |
Expenses | ||
Professional fees | 26,148 | |
Registration fees | 16,565 | |
Shareholder reports | 12,851 | |
Transfer agent fees | 12,666 | |
Independent trustees' fees | 8,136 | |
Portfolio accounting fees | 4,977 | |
Custodian fees | 4,084 | |
Proxy fees | 2,777 | |
Other expenses | + | 1,442 |
Total expenses | 89,646 | |
Expense reduction by CSIM | – | 86,869 |
Net expenses | – | 2,777 |
Net investment income | 418,835 | |
Realized and Unrealized Gains (Losses) | ||
Realized capital gain distributions received from affiliated underlying funds | 1,553,805 | |
Realized capital gain distributions received from unaffiliated underlying funds | 89,505 | |
Net realized losses on sales of affiliated underlying funds | + | (33,518) |
Net realized gains | 1,609,792 | |
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | (1,311,021) | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | 10,596 |
Net change in unrealized appreciation (depreciation) | + | (1,300,425) |
Net realized and unrealized gains | 309,367 | |
Increase in net assets resulting from operations | $728,202 |
Operations | ||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||
Net investment income | $418,835 | $245,160 | ||
Net realized gains | 1,609,792 | 1,237,485 | ||
Net change in unrealized appreciation (depreciation) | + | (1,300,425) | (1,070,261) | |
Increase in net assets from operations | 728,202 | 412,384 | ||
Distributions to Shareholders | ||||
Distributions from net investment income | (539,934) | (449,182) | ||
Distributions from net realized gains | + | (1,092,479) | (247,620) | |
Total distributions | ($1,632,413) | ($696,802) |
Transactions in Fund Shares | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | VALUE | SHARES | VALUE | |||||
Shares sold | 1,228,549 | $14,416,250 | 1,224,356 | $15,542,457 | ||||
Shares reinvested | 134,412 | 1,590,086 | 53,831 | 675,575 | ||||
Shares redeemed | + | (479,820) | (5,646,620) | (398,490) | (5,048,181) | |||
Net transactions in fund shares | 883,141 | $10,359,716 | 879,697 | $11,169,851 | ||||
Shares Outstanding and Net Assets | ||||||||
11/1/15-10/31/16 | 11/1/14-10/31/15 | |||||||
SHARES | NET ASSETS | SHARES | NET ASSETS | |||||
Beginning of period | 2,280,702 | $28,805,352 | 1,401,005 | $17,919,919 | ||||
Total increase | + | 883,141 | 9,455,505 | 879,697 | 10,885,433 | |||
End of period | 3,163,843 | $38,260,857 | 2,280,702 | $28,805,352 | ||||
Net investment income not yet distributed | $96,614 | $35,305 |
8/25/16 1– 10/31/16 | ||||||
Per-Share Data | ||||||
Net asset value at beginning of period | $10.00 | |||||
Income (loss) from investment operations: | ||||||
Net investment income (loss) | 0.01 2 | |||||
Net realized and unrealized gains (losses) | (0.18) | |||||
Total from investment operations | (0.17) | |||||
Net asset value at end of period | $9.83 | |||||
Total return | (1.70%) 3 | |||||
Ratios/Supplemental Data | ||||||
Ratios to average net assets: | ||||||
Net operating expenses4 | — 5 | |||||
Gross operating expenses4 | 7.87% 5 | |||||
Net investment income (loss) | 0.43% 5 | |||||
Portfolio turnover rate | 0% 3 | |||||
Net assets, end of period (x 1,000,000) | $1 | |||||
Holdings by Category | Cost ($) | Value ($) | |
98.0% | Other Investment Companies | 616,024 | 605,395 |
2.4% | Short-Term Investment | 15,072 | 15,072 |
100.4% | Total Investments | 631,096 | 620,467 |
(0.4%) | Other Assets and Liabilities, Net | (2,769) | |
100.0% | Net Assets | 617,698 |
Security | Number of Shares | Value ($) |
Other Investment Companies 98.0% of net assets | ||
Equity Funds 94.9% | ||
Global Real Estate 4.6% | ||
Schwab Global Real Estate Fund (a) | 4,006 | 28,686 |
International 27.0% | ||
Laudus International MarketMasters Fund, Select Shares (a) | 4,200 | 88,880 |
Laudus Mondrian Emerging Markets Fund, Institutional Shares (a) | 2,913 | 21,530 |
Schwab International Core Equity Fund (a) | 6,116 | 56,265 |
166,675 | ||
Large-Cap 53.7% | ||
Dodge & Cox Stock Fund | 252 | 43,443 |
Laudus U.S. Large Cap Growth Fund *(a) | 4,896 | 82,153 |
Schwab Core Equity Fund (a) | 4,674 | 91,838 |
Schwab Dividend Equity Fund (a) | 2,545 | 36,621 |
Schwab S&P 500 Index Fund (a) | 2,327 | 77,689 |
331,744 | ||
Small-Cap 9.6% | ||
Laudus Small-Cap MarketMasters Fund, Select Shares *(a) | 1,289 | 21,338 |
Schwab Small-Cap Equity Fund (a) | 2,023 | 38,047 |
59,385 | ||
586,490 | ||
Fixed-Income Funds 3.1% | ||
Intermediate-Term Bond 2.9% | ||
Metropolitan West Total Return Bond Fund, Class I | 182 | 1,988 |
Natixis Loomis Sayles Investment Grade Bond Fund, Class Y Shares | 355 | 4,077 |
Security | Number of Shares | Value ($) |
Schwab Intermediate-Term Bond Fund (a) | 97 | 1,000 |
Schwab Total Bond Market Fund (a) | 1,129 | 10,897 |
17,962 | ||
International Bond 0.2% | ||
Laudus Mondrian International Government Fixed Income Fund *(a) | 96 | 943 |
18,905 | ||
Total Other Investment Companies | ||
(Cost $616,024) | 605,395 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 2.4% of net assets | ||
Time Deposit 2.4% | ||
Brown Brothers Harriman | ||
0.15%, 11/01/16 (b) | 15,072 | 15,072 |
Total Short-Term Investment | ||
(Cost $15,072) | 15,072 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | The rate shown is the current daily overnight rate. |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Other Significant Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total | |
Other Investment Companies1 | $605,395 | $— | $— | $605,395 | |
Short-Term Investment1 | — | 15,072 | — | 15,072 | |
Total | $605,395 | $15,072 | $— | $620,467 |
1 | As categorized in Portfolio Holdings. |
Assets | ||
Investments in affiliated underlying funds, at value (cost $566,730) | $555,887 | |
Investments in unaffiliated issuers, at value (cost $64,366) | + | 64,580 |
Total investments, at value (cost $631,096) | 620,467 | |
Receivables: | ||
Fund shares sold | 22,269 | |
Due from investment adviser | 9,337 | |
Dividends | 21 | |
Prepaid expenses | + | 50 |
Total assets | 652,144 | |
Liabilities | ||
Payables: | ||
Investments bought | 19,721 | |
Independent trustees' fees | 28 | |
Accrued expenses | + | 14,697 |
Total liabilities | 34,446 | |
Net Assets | ||
Total assets | 652,144 | |
Total liabilities | – | 34,446 |
Net assets | $617,698 | |
Net Assets by Source | ||
Capital received from investors | 627,951 | |
Net investment income not yet distributed | 376 | |
Net unrealized capital depreciation | (10,629) |
Net Asset Value (NAV) | ||||
Net Assets | ÷ | Shares Outstanding | = | NAV |
$617,698 | 62,839 | $9.83 | ||
Investment Income | ||
Dividends received from affiliated underlying funds | $280 | |
Dividends received from unaffiliated underlying funds | 93 | |
Interest | + | 3 |
Total investment income | 376 | |
Expenses | ||
Professional fees | 13,816 | |
Shareholder reports | 2,538 | |
Independent trustees' fees | 1,736 | |
Portfolio accounting fees | 893 | |
Custodian fees | 670 | |
Transfer agent fees | 223 | |
Registration fees | 203 | |
Other expenses | + | 101 |
Total expenses | 20,180 | |
Expense reduction by CSIM | – | 20,180 |
Net investment income | 376 | |
Realized and Unrealized Gains (Losses) | ||
Net change in unrealized appreciation (depreciation) on affiliated underlying funds | (10,843) | |
Net change in unrealized appreciation (depreciation) on unaffiliated underlying funds | + | 214 |
Net change in unrealized appreciation (depreciation) | + | (10,629) |
Net realized and unrealized losses | (10,629) | |
Decrease in net assets resulting from operations | ($10,253) |
* | Commencement of operations. |
Operations | ||
8/25/16*-10/31/16 | ||
Net investment income | $376 | |
Net change in unrealized appreciation (depreciation) | + | (10,629) |
Decrease in net assets from operations | (10,253) |
Transactions in Fund Shares | ||||
8/25/16*-10/31/16 | ||||
SHARES | VALUE | |||
Shares sold | + | 62,839 | $627,951 | |
Net transactions in fund shares | 62,839 | $627,951 | ||
Shares Outstanding and Net Assets | ||||
8/25/16*-10/31/16 | ||||
SHARES | NET ASSETS | |||
Beginning of period | — | $— | ||
Total increase | + | 62,839 | 617,698 | |
End of period | 62,839 | $617,698 | ||
Net investment income not yet distributed | $376 |
* | Commencement of operations. |
SCHWAB CAPITAL TRUST (ORGANIZED MAY 7, 1993) | |
Schwab Target 2010 Fund | Schwab Small-Cap Equity Fund™ |
Schwab Target 2015 Fund | Schwab Hedged Equity Fund™ |
Schwab Target 2020 Fund | Schwab Health Care Fund™ |
Schwab Target 2025 Fund | Schwab ® International Core Equity Fund |
Schwab Target 2030 Fund | Schwab Fundamental US Large Company Index Fund |
Schwab Target 2035 Fund | Schwab Fundamental US Small Company Index Fund |
Schwab Target 2040 Fund | Schwab Fundamental International Large Company Index Fund |
Schwab Target 2045 Fund | Schwab Fundamental International Small Company Index Fund |
Schwab Target 2050 Fund | Schwab Fundamental Emerging Markets Large Company Index Fund |
Schwab Target 2055 Fund | Schwab Fundamental Global Real Estate Index Fund |
Schwab Target 2060 Fund | Schwab Target 2010 Index Fund |
Schwab ® S&P 500 Index Fund | Schwab Target 2015 Index Fund |
Schwab Small-Cap Index Fund® | Schwab Target 2020 Index Fund |
Schwab Total Stock Market Index Fund® | Schwab Target 2025 Index Fund |
Schwab International Index Fund® | Schwab Target 2030 Index Fund |
Schwab MarketTrack All Equity Portfolio™ | Schwab Target 2035 Index Fund |
Schwab MarketTrack Growth Portfolio™ | Schwab Target 2040 Index Fund |
Schwab MarketTrack Balanced Portfolio™ | Schwab Target 2045 Index Fund |
Schwab MarketTrack Conservative Portfolio™ | Schwab Target 2050 Index Fund |
Laudus Small-Cap MarketMasters Fund™ | Schwab Target 2055 Index Fund |
Laudus International MarketMasters Fund™ | Schwab Target 2060 Index Fund |
Schwab Balanced Fund™ | Schwab ® Monthly Income Fund - Moderate Payout |
Schwab Core Equity Fund™ | Schwab ® Monthly Income Fund - Enhanced Payout |
Schwab Dividend Equity Fund™ | Schwab ® Monthly Income Fund - Maximum Payout |
Schwab Large-Cap Growth Fund™ |
2. Significant Accounting Policies:
3. Risk Factors:
4. Affiliates and Affiliated Transactions:
Underlying Funds | Schwab Target 2010 Fund | Schwab Target 2015 Fund | Schwab Target 2020 Fund | Schwab Target 2025 Fund | Schwab Target 2030 Fund | Schwab Target 2035 Fund | Schwab Target 2040 Fund | Schwab Target 2045 Fund | Schwab Target 2050 Fund | Schwab Target 2055 Fund | Schwab Target 2060 Fund |
Schwab Global Real Estate Fund | 0.5% | 0.9% | 5.6% | 5.6% | 11.8% | 5.6% | 14.6% | 1.4% | 1.2% | 0.7% | 0.0%* |
Laudus International MarketMasters Fund, Select Shares | 0.2% | 0.4% | 2.6% | 2.7% | 5.7% | 2.8% | 7.0% | 0.7% | 0.6% | 0.4% | 0.0%* |
Laudus Mondrian Emerging Markets Fund, Institutional Shares | —% | —% | 0.3% | 0.9% | 2.7% | 1.7% | 5.3% | 0.6% | 0.5% | 0.3% | 0.0%* |
Schwab International Core Equity Fund | 0.3% | 0.5% | 3.5% | 3.5% | 7.3% | 3.6% | 9.0% | 0.9% | 0.8% | 0.5% | 0.0%* |
Laudus U.S. Large Cap Growth Fund | 0.2% | 0.4% | 2.3% | 2.3% | 4.8% | 2.3% | 5.7% | 0.6% | 0.5% | 0.3% | 0.0%* |
Schwab Core Equity Fund | 0.2% | 0.4% | 2.3% | 2.3% | 4.7% | 2.2% | 5.6% | 0.6% | 0.5% | 0.3% | 0.0%* |
Schwab Dividend Equity Fund | 0.1% | 0.2% | 1.4% | 1.4% | 2.8% | 1.4% | 3.3% | 0.3% | 0.3% | 0.2% | 0.0%* |
Schwab S&P 500 Index Fund | 0.0%* | 0.0%* | 0.2% | 0.2% | 0.4% | 0.2% | 0.4% | 0.0%* | 0.0%* | 0.0%* | 0.0%* |
Laudus Small-Cap MarketMasters Fund, Select Shares | 0.3% | 0.5% | 4.0% | 4.2% | 9.8% | 5.2% | 14.1% | 1.5% | 1.4% | 0.8% | 0.0%* |
Schwab Small-Cap Equity Fund | 0.1% | 0.3% | 1.9% | 2.1% | 4.9% | 2.5% | 7.1% | 0.8% | 0.7% | 0.4% | 0.0%* |
Schwab Treasury Inflation Protected Securities Index Fund | 1.2% | 2.0% | 4.7% | 1.2% | —% | —% | —% | —% | —% | —% | —% |
Schwab Intermediate-Term Bond Fund | —% | —% | 1.2% | 1.6% | 3.2% | 1.3% | 2.6% | 0.2% | 0.1% | 0.0%* | 0.0%* |
Schwab Total Bond Market Fund | 1.0% | 1.7% | 7.0% | 4.3% | 5.8% | 1.8% | 2.6% | 0.2% | 0.1% | 0.0%* | 0.0%* |
Laudus Mondrian International Government Fixed Income Fund | 0.3% | 0.6% | 5.0% | 4.2% | 6.8% | 2.2% | 3.1% | 0.2% | 0.1% | 0.0%* | 0.0%* |
Schwab Short-Term Bond Market Fund | 1.3% | 2.2% | 7.2% | 3.6% | 3.8% | 0.9% | 0.8% | 0.0%* | 0.0%* | 0.0%* | —% |
Schwab Variable Share Price Money Fund, Ultra Shares | 0.6% | 1.0% | 2.6% | 1.4% | 1.4% | 0.4% | 0.2% | —% | —% | —% | —% |
* | Less than 0.05% |
Underlying Funds | Balance of Shares Held at 10/31/15 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/16 | Market Value at 10/31/16 | Realized Gains (Losses) 11/01/15 to 10/31/16 | Distributions Received* 11/01/15 to 10/31/16 | ||
Laudus International MarketMasters Fund, Select Shares | 149,571 | 14,272 | (18,271) | 145,572 | $3,080,313 | $46,377 | $223,795 | ||
Laudus Mondrian International Government Fixed Income Fund | 41,044 | 856 | (6,250) | 35,650 | 350,437 | 1,486 | 7,761 | ||
Laudus Small-Cap MarketMasters Fund, Select Shares | 31,799 | 2,031 | (5,786) | 28,044 | 464,123 | 18,235 | 32,808 | ||
Laudus U.S. Large Cap Growth Fund | 228,536 | 30,318 | (40,746) | 218,108 | 3,659,853 | 56,962 | 240,174 | ||
Schwab Core Equity Fund | 196,100 | 56,966 | (47,032) | 206,034 | 4,048,568 | 124,714 | 640,950 | ||
Schwab Dividend Equity Fund | 124,102 | 30,305 | (28,775) | 125,632 | 1,807,842 | 14,642 | 251,375 | ||
Schwab Global Real Estate Fund | 185,350 | 12,273 | (36,119) | 161,504 | 1,156,371 | 70,463 | 42,507 | ||
Schwab International Core Equity Fund | 240,100 | 24,342 | (38,398) | 226,044 | 2,079,605 | (24,377) | 44,372 | ||
Schwab S&P 500 Index Fund | 112,086 | 9,921 | (21,374) | 100,633 | 3,359,139 | 214,150 | 111,391 | ||
Schwab Short-Term Bond Market Fund | 650,054 | 38,392 | (69,889) | 618,557 | 5,777,319 | 18,821 | 68,411 | ||
Schwab Small-Cap Equity Fund | 50,734 | 11,692 | (20,761) | 41,665 | 783,711 | 51,374 | 130,426 | ||
Schwab Total Bond Market Fund | 1,578,072 | 153,585 | (280,344) | 1,451,313 | 14,005,166 | 44,369 | 320,219 | ||
Schwab Treasury Inflation Protected Securities Index Fund | 366,390 | 17,993 | (47,424) | 336,959 | 3,814,376 | 12,856 | 67,258 | ||
Schwab Value Advantage Money Fund, Ultra Shares | 2,469,650 | 1,730 | (2,471,380) | — | — | — | 1,796 | ||
Schwab Variable Share Price Money Fund, Ultra Shares | — | 2,477,273 | — | 2,477,273 | 2,478,264 | — | 6,402 | ||
Total | $46,865,087 | $650,072 | $2,189,645 |
Underlying Funds | Balance of Shares Held at 10/31/15 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/16 | Market Value at 10/31/16 | Realized Gains (Losses) 11/01/15 to 10/31/16 | Distributions Received* 11/01/15 to 10/31/16 | ||
Laudus International MarketMasters Fund, Select Shares | 285,863 | 32,665 | (52,628) | 265,900 | $5,626,449 | $61,509 | $425,775 | ||
Laudus Mondrian International Government Fixed Income Fund | 86,086 | 1,795 | (11,138) | 76,743 | 754,384 | 5,981 | 16,279 | ||
Laudus Small-Cap MarketMasters Fund, Select Shares | 59,796 | 4,591 | (15,830) | 48,557 | 803,621 | 48,799 | 61,875 | ||
Laudus U.S. Large Cap Growth Fund | 429,420 | 58,808 | (83,631) | 404,597 | 6,789,145 | 125,202 | 453,080 | ||
Schwab Core Equity Fund | 369,878 | 85,917 | (78,495) | 377,300 | 7,413,944 | 8,238 | 1,203,710 | ||
Schwab Dividend Equity Fund | 230,740 | 50,909 | (45,847) | 235,802 | 3,393,187 | 39,311 | 470,383 | ||
Schwab Global Real Estate Fund | 345,116 | 35,416 | (70,136) | 310,396 | 2,222,439 | 25,978 | 80,415 | ||
Schwab International Core Equity Fund | 445,723 | 13,436 | (46,934) | 412,225 | 3,792,473 | (28,436) | 84,003 | ||
Schwab S&P 500 Index Fund | 210,352 | 15,963 | (41,374) | 184,941 | 6,173,323 | 258,473 | 208,000 | ||
Schwab Short-Term Bond Market Fund | 1,115,060 | 59,566 | (132,798) | 1,041,828 | 9,730,674 | 2,040 | 118,127 | ||
Schwab Small-Cap Equity Fund | 94,786 | 22,470 | (37,439) | 79,817 | 1,501,362 | (901) | 243,676 | ||
Schwab Total Bond Market Fund | 2,715,881 | 131,550 | (407,697) | 2,439,734 | 23,543,432 | 117,435 | 554,819 | ||
Schwab Treasury Inflation Protected Securities Index Fund | 636,258 | 42,301 | (110,148) | 568,411 | 6,434,411 | 15,511 | 116,308 | ||
Schwab Value Advantage Money Fund, Ultra Shares | 2,693,264 | 1,502,348 | (4,195,612) | — | — | — | 2,530 | ||
Schwab Variable Share Price Money Fund, Ultra Shares | — | 4,205,616 | — | 4,205,616 | 4,207,298 | — | 10,867 | ||
Total | $82,386,142 | $679,140 | $4,049,847 |
Underlying Funds | Balance of Shares Held at 10/31/15 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/16 | Market Value at 10/31/16 | Realized Gains (Losses) 11/01/15 to 10/31/16 | Distributions Received* 11/01/15 to 10/31/16 | ||
Laudus International MarketMasters Fund, Select Shares | 1,903,619 | 160,383 | (177,489) | 1,886,513 | $39,918,614 | $1,228,187 | $2,896,340 | ||
Laudus Mondrian Emerging Markets Fund, Institutional Shares | 203,973 | 17,515 | (73,916) | 147,572 | 1,090,562 | (194,085) | 18,358 | ||
Laudus Mondrian International Government Fixed Income Fund | 644,158 | 32,335 | (76,754) | 599,739 | 5,895,436 | 12,985 | 125,312 | ||
Laudus Small-Cap MarketMasters Fund, Select Shares | 404,664 | 26,673 | (61,615) | 369,722 | 6,118,891 | 401,474 | 430,765 | ||
Laudus U.S. Large Cap Growth Fund | 2,612,903 | 243,898 | (229,555) | 2,627,246 | 44,085,180 | 179,773 | 2,799,849 | ||
Schwab Core Equity Fund | 2,240,843 | 393,514 | (179,559) | 2,454,798 | 48,236,785 | 571,629 | 7,401,584 | ||
Schwab Dividend Equity Fund | 1,404,942 | 230,457 | (120,527) | 1,514,872 | 21,799,010 | 125,526 | 2,909,891 | ||
Schwab Global Real Estate Fund | 2,135,735 | 153,718 | (292,141) | 1,997,312 | 14,300,752 | 146,146 | 500,139 | ||
Schwab Intermediate-Term Bond Fund | 467,601 | 8,594 | (81,293) | 394,902 | 4,067,489 | (2,985) | 88,922 | ||
Schwab International Core Equity Fund | 3,003,249 | 171,162 | (240,757) | 2,933,654 | 26,989,615 | (223,282) | 573,322 | ||
Schwab S&P 500 Index Fund | 1,276,154 | 40,993 | (130,818) | 1,186,329 | 39,599,659 | 1,183,903 | 1,278,579 | ||
Schwab Short-Term Bond Market Fund | 3,049,891 | 430,530 | (32,224) | 3,448,197 | 32,206,158 | 1,706 | 363,302 | ||
Schwab Small-Cap Equity Fund | 625,696 | 93,962 | (148,782) | 570,876 | 10,738,184 | (23,159) | 1,608,541 | ||
Schwab Total Bond Market Fund | 9,568,667 | 664,782 | (228,427) | 10,005,022 | 96,548,458 | 48,630 | 2,110,503 | ||
Schwab Treasury Inflation Protected Securities Index Fund | 1,142,741 | 195,660 | (18,019) | 1,320,382 | 14,946,730 | 6,804 | 231,694 | ||
Schwab Value Advantage Money Fund, Ultra Shares | 8,003,597 | 3,006,530 | (11,010,127) | — | — | — | 6,963 | ||
Schwab Variable Share Price Money Fund, Ultra Shares | — | 11,036,379 | — | 11,036,379 | 11,040,793 | — | 28,517 | ||
Total | $417,582,316 | $3,463,252 | $23,372,581 |
Underlying Funds | Balance of Shares Held at 10/31/15 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/16 | Market Value at 10/31/16 | Realized Gains (Losses) 11/01/15 to 10/31/16 | Distributions Received* 11/01/15 to 10/31/16 | ||
Laudus International MarketMasters Fund, Select Shares | 1,733,155 | 281,157 | (76,843) | 1,937,469 | $40,996,836 | $115,589 | $2,658,148 | ||
Laudus Mondrian Emerging Markets Fund, Institutional Shares | 462,224 | 69,406 | (53,555) | 478,075 | 3,532,975 | (98,948) | 43,635 | ||
Laudus Mondrian International Government Fixed Income Fund | 488,782 | 24,648 | — | 513,430 | 5,047,012 | — | 95,107 | ||
Laudus Small-Cap MarketMasters Fund, Select Shares | 387,230 | 36,694 | (32,430) | 391,494 | 6,479,220 | 92,910 | 415,109 | ||
Laudus U.S. Large Cap Growth Fund | 2,330,246 | 400,688 | (142,831) | 2,588,103 | 43,428,372 | 67,492 | 2,513,468 | ||
Schwab Core Equity Fund | 1,987,490 | 520,223 | (74,625) | 2,433,088 | 47,810,186 | 140,740 | 6,582,369 | ||
Schwab Dividend Equity Fund | 1,261,862 | 290,751 | (54,823) | 1,497,790 | 21,553,194 | 73,708 | 2,607,404 | ||
Schwab Global Real Estate Fund | 1,954,647 | 191,745 | (167,228) | 1,979,164 | 14,170,816 | 134,112 | 472,899 | ||
Schwab Intermediate-Term Bond Fund | 507,330 | 72,082 | (49,951) | 529,461 | 5,453,451 | 1,528 | 109,641 | ||
Schwab International Core Equity Fund | 2,749,043 | 243,587 | (25,463) | 2,967,167 | 27,297,936 | (36,921) | 520,720 | ||
Schwab S&P 500 Index Fund | 1,136,046 | 104,233 | (55,261) | 1,185,018 | 39,555,899 | 80,167 | 1,151,942 | ||
Schwab Short-Term Bond Market Fund | 1,379,950 | 339,306 | — | 1,719,256 | 16,057,848 | — | 173,209 | ||
Schwab Small-Cap Equity Fund | 609,392 | 129,132 | (92,639) | 645,885 | 12,149,101 | 40,968 | 1,566,625 | ||
Schwab Total Bond Market Fund | 5,479,728 | 779,268 | — | 6,258,996 | 60,399,312 | — | 1,274,278 | ||
Schwab Treasury Inflation Protected Securities Index Fund | 194,330 | 211,247 | (84,753) | 320,824 | 3,631,723 | 17,479 | 46,087 | ||
Schwab Value Advantage Money Fund, Ultra Shares | — | 6,001,845 | (6,001,845) | — | — | — | 2,290 | ||
Schwab Variable Share Price Money Fund, Ultra Shares | — | 6,016,155 | — | 6,016,155 | 6,018,562 | — | 15,545 | ||
Total | $353,582,443 | $628,824 | $20,248,476 |
Underlying Funds | Balance of Shares Held at 10/31/15 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/16 | Market Value at 10/31/16 | Realized Gains (Losses) 11/01/15 to 10/31/16 | Distributions Received* 11/01/15 to 10/31/16 | ||
Laudus International MarketMasters Fund, Select Shares | 3,778,181 | 438,452 | (144,658) | 4,071,975 | $86,162,982 | $559,389 | $5,745,046 | ||
Laudus Mondrian Emerging Markets Fund, Institutional Shares | 1,489,154 | 94,633 | (112,658) | 1,471,129 | 10,871,640 | (124,862) | 139,368 | ||
Laudus Mondrian International Government Fixed Income Fund | 780,730 | 38,616 | — | 819,346 | 8,054,170 | — | 151,774 | ||
Laudus Small-Cap MarketMasters Fund, Select Shares | 891,921 | 58,790 | (38,911) | 911,800 | 15,090,289 | 283,151 | 949,450 | ||
Laudus U.S. Large Cap Growth Fund | 4,957,004 | 631,657 | (238,505) | 5,350,156 | 89,775,615 | 98,315 | 5,305,099 | ||
Schwab Core Equity Fund | 4,225,482 | 950,718 | (192,450) | 4,983,750 | 97,930,681 | 193,466 | 13,982,777 | ||
Schwab Dividend Equity Fund | 2,679,928 | 527,825 | (148,738) | 3,059,015 | 44,019,232 | 209,691 | 5,558,181 | ||
Schwab Global Real Estate Fund | 4,219,822 | 275,692 | (300,446) | 4,195,068 | 30,036,684 | 231,956 | 991,843 | ||
Schwab Intermediate-Term Bond Fund | 1,041,224 | 170,069 | (127,209) | 1,084,084 | 11,166,066 | 3,717 | 225,694 | ||
Schwab International Core Equity Fund | 5,937,402 | 426,222 | (200,303) | 6,163,321 | 56,702,550 | (200,905) | 1,137,880 | ||
Schwab S&P 500 Index Fund | 2,414,262 | 93,440 | (72,777) | 2,434,925 | 81,277,798 | 321,658 | 2,418,849 | ||
Schwab Short-Term Bond Market Fund | 1,516,295 | 292,030 | — | 1,808,325 | 16,889,752 | — | 188,739 | ||
Schwab Small-Cap Equity Fund | 1,418,219 | 240,397 | (162,594) | 1,496,022 | 28,140,182 | 165,990 | 3,676,991 | ||
Schwab Total Bond Market Fund | 7,706,982 | 817,613 | (111,579) | 8,413,016 | 81,185,606 | 11,317 | 1,739,435 | ||
Schwab Value Advantage Money Fund, Ultra Shares | — | 6,001,845 | (6,001,845) | — | — | — | 2,290 | ||
Schwab Variable Share Price Money Fund, Ultra Shares | — | 6,016,155 | — | 6,016,155 | 6,018,562 | — | 15,545 | ||
Total | $663,321,809 | $1,752,883 | $42,228,961 |
Underlying Funds | Balance of Shares Held at 10/31/15 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/16 | Market Value at 10/31/16 | Realized Gains (Losses) 11/01/15 to 10/31/16 | Distributions Received* 11/01/15 to 10/31/16 | ||
Laudus International MarketMasters Fund, Select Shares | 1,766,255 | 260,448 | (53,775) | 1,972,928 | $41,747,160 | $13,703 | $2,695,913 | ||
Laudus Mondrian Emerging Markets Fund, Institutional Shares | 893,478 | 70,831 | (47,419) | 916,890 | 6,775,816 | (94,684) | 83,842 | ||
Laudus Mondrian International Government Fixed Income Fund | 249,619 | 37,848 | (19,607) | 267,860 | 2,633,062 | (5,621) | 47,203 | ||
Laudus Small-Cap MarketMasters Fund, Select Shares | 450,143 | 47,413 | (16,209) | 481,347 | 7,966,291 | 45,326 | 481,821 | ||
Laudus U.S. Large Cap Growth Fund | 2,272,925 | 385,992 | (103,297) | 2,555,620 | 42,883,309 | (39,193) | 2,439,192 | ||
Schwab Core Equity Fund | 1,940,254 | 480,780 | (50,640) | 2,370,394 | 46,578,245 | (372) | 6,390,453 | ||
Schwab Dividend Equity Fund | 1,220,114 | 264,015 | (20,907) | 1,463,222 | 21,055,769 | 33,240 | 2,548,754 | ||
Schwab Global Real Estate Fund | 1,965,221 | 161,709 | (119,782) | 2,007,148 | 14,371,177 | 102,223 | 471,533 | ||
Schwab Intermediate-Term Bond Fund | 419,886 | 77,970 | (52,823) | 445,033 | 4,583,842 | 3,216 | 92,574 | ||
Schwab International Core Equity Fund | 2,780,871 | 291,684 | (58,991) | 3,013,564 | 27,724,789 | (40,447) | 530,318 | ||
Schwab S&P 500 Index Fund | 1,106,385 | 82,366 | (28,572) | 1,160,179 | 38,726,779 | 52,185 | 1,114,113 | ||
Schwab Short-Term Bond Market Fund | 331,042 | 105,031 | — | 436,073 | 4,072,917 | — | 45,085 | ||
Schwab Small-Cap Equity Fund | 707,704 | 122,996 | (58,413) | 772,287 | 14,526,720 | (86,888) | 1,819,364 | ||
Schwab Total Bond Market Fund | 2,255,249 | 328,958 | — | 2,584,207 | 24,937,601 | — | 529,075 | ||
Schwab Value Advantage Money Fund, Ultra Shares | — | 1,500,461 | (1,500,461) | — | — | — | 573 | ||
Schwab Variable Share Price Money Fund, Ultra Shares | — | 1,504,039 | — | 1,504,039 | 1,504,640 | — | 3,885 | ||
Total | $300,088,117 | ($17,312) | $19,293,698 |
Underlying Funds | Balance of Shares Held at 10/31/15 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/16 | Market Value at 10/31/16 | Realized Gains (Losses) 11/01/15 to 10/31/16 | Distributions Received* 11/01/15 to 10/31/16 | ||
Laudus International MarketMasters Fund, Select Shares | 4,733,337 | 472,133 | (190,346) | 5,015,124 | $106,120,019 | $1,215,288 | $7,215,468 | ||
Laudus Mondrian Emerging Markets Fund, Institutional Shares | 2,872,662 | 178,683 | (206,776) | 2,844,569 | 21,021,364 | (411) | 270,859 | ||
Laudus Mondrian International Government Fixed Income Fund | 331,487 | 39,591 | — | 371,078 | 3,647,693 | — | 62,684 | ||
Laudus Small-Cap MarketMasters Fund, Select Shares | 1,299,448 | 85,651 | (73,559) | 1,311,540 | 21,705,993 | 366,033 | 1,383,262 | ||
Laudus U.S. Large Cap Growth Fund | 5,959,224 | 676,092 | (294,827) | 6,340,489 | 106,393,409 | 133,801 | 6,386,594 | ||
Schwab Core Equity Fund | 5,092,328 | 1,011,034 | (205,908) | 5,897,454 | 115,884,981 | 217,739 | 16,720,545 | ||
Schwab Dividend Equity Fund | 3,174,382 | 629,893 | (198,686) | 3,605,589 | 51,884,425 | 185,836 | 6,624,169 | ||
Schwab Global Real Estate Fund | 5,246,536 | 284,055 | (316,178) | 5,214,413 | 37,335,200 | 421,772 | 1,216,774 | ||
Schwab Intermediate-Term Bond Fund | 799,428 | 96,571 | — | 895,999 | 9,228,789 | — | 181,980 | ||
Schwab International Core Equity Fund | 7,451,387 | 497,853 | (372,235) | 7,577,005 | 69,708,448 | (127,730) | 1,418,769 | ||
Schwab S&P 500 Index Fund | 2,898,817 | 104,346 | (125,988) | 2,877,175 | 96,040,095 | 1,085,434 | 2,915,225 | ||
Schwab Short-Term Bond Market Fund | 372,113 | 26,075 | — | 398,188 | 3,719,073 | — | 42,626 | ||
Schwab Small-Cap Equity Fund | 2,043,606 | 302,468 | (181,650) | 2,164,424 | 40,712,818 | 57,466 | 5,276,435 | ||
Schwab Total Bond Market Fund | 3,354,260 | 344,975 | — | 3,699,235 | 35,697,621 | — | 769,153 | ||
Schwab Value Advantage Money Fund, Ultra Shares | — | 1,000,308 | (1,000,308) | — | — | — | 382 | ||
Schwab Variable Share Price Money Fund, Ultra Shares | — | 1,002,693 | — | 1,002,693 | 1,003,094 | — | 2,591 | ||
Total | $720,103,022 | $3,555,228 | $50,487,516 |
Underlying Funds | Balance of Shares Held at 10/31/15 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/16 | Market Value at 10/31/16 | Realized Gains (Losses) 11/01/15 to 10/31/16 | Distributions Received* 11/01/15 to 10/31/16 | ||
Laudus International MarketMasters Fund, Select Shares | 388,812 | 127,504 | (7,450) | 508,866 | $10,767,602 | ($31,899) | $602,043 | ||
Laudus Mondrian Emerging Markets Fund, Institutional Shares | 260,292 | 66,404 | — | 326,696 | 2,414,281 | — | 24,999 | ||
Laudus Mondrian International Government Fixed Income Fund | 11,852 | 15,823 | — | 27,675 | 272,045 | — | 2,565 | ||
Laudus Small-Cap MarketMasters Fund, Select Shares | 111,137 | 27,221 | — | 138,358 | 2,289,835 | — | 120,944 | ||
Laudus U.S. Large Cap Growth Fund | 482,732 | 146,763 | — | 629,495 | 10,562,930 | — | 526,307 | ||
Schwab Core Equity Fund | 412,499 | 184,604 | (2,828) | 594,275 | 11,677,503 | (6,120) | 1,383,941 | ||
Schwab Dividend Equity Fund | 257,925 | 105,177 | — | 363,102 | 5,225,044 | — | 561,846 | ||
Schwab Global Real Estate Fund | 430,025 | 99,783 | (19,747) | 510,061 | 3,652,035 | (7,529) | 110,671 | ||
Schwab Intermediate-Term Bond Fund | 49,368 | 22,964 | — | 72,332 | 745,019 | — | 12,713 | ||
Schwab International Core Equity Fund | 611,981 | 179,831 | — | 791,812 | 7,284,677 | — | 120,150 | ||
Schwab S&P 500 Index Fund | 234,798 | 57,171 | (5,241) | 286,728 | 9,570,973 | (9,450) | 241,793 | ||
Schwab Short-Term Bond Market Fund | 12,889 | 31,334 | (24,408) | 19,815 | 185,073 | 1,614 | 2,094 | ||
Schwab Small-Cap Equity Fund | 175,938 | 67,205 | (13,014) | 230,129 | 4,328,721 | (57,246) | 461,477 | ||
Schwab Total Bond Market Fund | 172,153 | 67,146 | — | 239,299 | 2,309,233 | — | 45,042 | ||
Total | $71,284,971 | ($110,630) | $4,216,585 |
Underlying Funds | Balance of Shares Held at 10/31/15 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/16 | Market Value at 10/31/16 | Realized Gains (Losses) 11/01/15 to 10/31/16 | Distributions Received* 11/01/15 to 10/31/16 | ||
Laudus International MarketMasters Fund, Select Shares | 321,047 | 118,845 | (2,134) | 437,758 | $9,262,962 | ($8,778) | $502,683 | ||
Laudus Mondrian Emerging Markets Fund, Institutional Shares | 230,062 | 73,927 | (12,526) | 291,463 | 2,153,911 | (28,774) | 22,163 | ||
Laudus Mondrian International Government Fixed Income Fund | 7,172 | 3,439 | — | 10,611 | 104,310 | — | 1,356 | ||
Laudus Small-Cap MarketMasters Fund, Select Shares | 96,278 | 37,630 | (1,875) | 132,033 | 2,185,140 | (6,467) | 103,839 | ||
Laudus U.S. Large Cap Growth Fund | 394,480 | 145,008 | (6,434) | 533,054 | 8,944,650 | (17,785) | 431,984 | ||
Schwab Core Equity Fund | 335,945 | 166,919 | — | 502,864 | 9,881,275 | — | 1,143,125 | ||
Schwab Dividend Equity Fund | 212,130 | 97,130 | (2,102) | 307,158 | 4,420,009 | (5,339) | 462,108 | ||
Schwab Global Real Estate Fund | 354,606 | 82,093 | (3,851) | 432,848 | 3,099,188 | (2,465) | 92,116 | ||
Schwab Intermediate-Term Bond Fund | 25,092 | 21,031 | — | 46,123 | 475,066 | — | 7,678 | ||
Schwab International Core Equity Fund | 505,203 | 168,913 | — | 674,116 | 6,201,865 | — | 99,901 | ||
Schwab S&P 500 Index Fund | 191,919 | 51,283 | — | 243,202 | 8,118,083 | — | 197,861 | ||
Schwab Short-Term Bond Market Fund | 4,748 | 18,090 | (15,051) | 7,787 | 72,726 | 658 | 787 | ||
Schwab Small-Cap Equity Fund | 149,660 | 56,278 | (1,638) | 204,300 | 3,842,882 | (9,772) | 396,868 | ||
Schwab Total Bond Market Fund | 85,885 | 64,675 | (8,429) | 142,131 | 1,371,563 | 577 | 25,247 | ||
Total | $60,133,630 | ($78,145) | $3,487,716 |
Underlying Funds | Balance of Shares Held at 10/31/15 | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/16 | Market Value at 10/31/16 | Realized Gains (Losses) 11/01/15 to 10/31/16 | Distributions Received* 11/01/15 to 10/31/16 | ||
Laudus International MarketMasters Fund, Select Shares | 179,619 | 74,323 | (713) | 253,229 | $5,358,317 | ($3,653) | $280,706 | ||
Laudus Mondrian Emerging Markets Fund, Institutional Shares | 136,613 | 47,515 | (2,857) | 181,271 | 1,339,593 | (6,256) | 13,116 | ||
Laudus Mondrian International Government Fixed Income Fund | 2,444 | 5,726 | (2,287) | 5,883 | 57,828 | (1,748) | 462 | ||
Laudus Small-Cap MarketMasters Fund, Select Shares | 55,241 | 20,874 | (1,139) | 74,976 | 1,240,857 | (4,503) | 60,092 | ||
Laudus U.S. Large Cap Growth Fund | 218,270 | 85,786 | — | 304,056 | 5,102,062 | — | 239,055 | ||
Schwab Core Equity Fund | 186,781 | 98,457 | — | 285,238 | 5,604,930 | — | 629,948 | ||
Schwab Dividend Equity Fund | 115,725 | 60,884 | — | 176,609 | 2,541,409 | — | 254,651 | ||
Schwab Global Real Estate Fund | 198,219 | 67,959 | (10,994) | 255,184 | 1,827,115 | (5,912) | 52,653 | ||
Schwab Intermediate-Term Bond Fund | 6,509 | 9,551 | — | 16,060 | 165,418 | — | 2,627 | ||
Schwab International Core Equity Fund | 282,649 | 108,459 | (1,157) | 389,951 | 3,587,551 | (2,002) | 55,318 | ||
Schwab S&P 500 Index Fund | 106,118 | 33,457 | — | 139,575 | 4,658,999 | — | 109,220 | ||
Schwab Short-Term Bond Market Fund | — | 753 | — | 753 | 7,033 | — | 41 | ||
Schwab Small-Cap Equity Fund | 87,547 | 38,427 | (2,087) | 123,887 | 2,330,311 | (9,954) | 229,905 | ||
Schwab Total Bond Market Fund | 21,076 | 33,962 | (8,896) | 46,142 | 445,273 | 510 | 7,977 | ||
Total | $34,266,696 | ($33,518) | $1,935,771 |
Underlying Funds | Balance of Shares Held at 08/25/16(a) | Gross Purchases | Gross Sales | Balance of Shares Held at 10/31/16 | Market Value at 10/31/16 | Realized Gains (Losses) 08/25/16(a) to 10/31/16 | Distributions Received* 08/25/16(a) to 10/31/16 | ||
Laudus International MarketMasters Fund, Select Shares | — | 4,200 | — | 4,200 | $88,880 | $— | $— | ||
Laudus Mondrian Emerging Markets Fund, Institutional Shares | — | 2,913 | — | 2,913 | 21,530 | — | — | ||
Laudus Mondrian International Government Fixed Income Fund | — | 96 | — | 96 | 943 | — | — | ||
Laudus Small-Cap MarketMasters Fund, Select Shares | — | 1,289 | — | 1,289 | 21,338 | — | — | ||
Laudus U.S. Large Cap Growth Fund | — | 4,896 | — | 4,896 | 82,153 | — | — | ||
Schwab Core Equity Fund | — | 4,674 | — | 4,674 | 91,838 | — | — | ||
Schwab Dividend Equity Fund | — | 2,545 | — | 2,545 | 36,621 | — | 142 | ||
Schwab Global Real Estate Fund | — | 4,006 | — | 4,006 | 28,686 | — | 95 | ||
Schwab Intermediate-Term Bond Fund | — | 97 | — | 97 | 1,000 | — | — | ||
Schwab International Core Equity Fund | — | 6,116 | — | 6,116 | 56,265 | — | — | ||
Schwab S&P 500 Index Fund | — | 2,327 | — | 2,327 | 77,689 | — | — | ||
Schwab Small-Cap Equity Fund | — | 2,023 | — | 2,023 | 38,047 | — | — | ||
Schwab Total Bond Market Fund | — | 1,129 | — | 1,129 | 10,897 | — | 43 | ||
Total | $555,887 | $— | $280 |
* | Distributions received include distributions from net investment income and capital gains, if any, from the underlying funds. |
(a) | Commencement of operations. |
5. Board of Trustees:
6. Borrowing from Banks:
7. Purchases and Sales/Maturities of Investment Securities:
Purchases of Securities | Sales/Maturities of Securities | |
Schwab Target 2010 Fund | $8,637,802 | $12,408,381 |
Schwab Target 2015 Fund | 15,181,948 | 22,521,612 |
Schwab Target 2020 Fund | 60,445,305 | 47,706,127 |
Schwab Target 2025 Fund | 72,667,202 | 21,636,845 |
Schwab Target 2030 Fund | 97,883,460 | 35,351,845 |
Schwab Target 2035 Fund | 49,683,513 | 11,665,461 |
Schwab Target 2040 Fund | 84,889,436 | 36,370,308 |
Schwab Target 2045 Fund | 19,646,517 | 999,000 |
Schwab Target 2050 Fund | 18,001,434 | 594,000 |
Schwab Target 2055 Fund | 10,943,882 | 299,000 |
Schwab Target 2060 Fund | 616,024 | — |
8. Redemption Fee:
Current Period (11/1/15-10/31/16) | Prior Period (11/1/14-10/31/15) | |
Schwab Target 2010 Fund | $1,591 | $197 |
Schwab Target 2015 Fund | 2,546 | 8,500 |
Schwab Target 2020 Fund | 5,615 | 11,522 |
Schwab Target 2025 Fund | 5,667 | 3,821 |
Schwab Target 2030 Fund | 7,742 | 12,726 |
Schwab Target 2035 Fund | 3,566 | 5,806 |
Schwab Target 2040 Fund | 6,637 | 14,122 |
Schwab Target 2045 Fund | 1,974 | 2,334 |
Schwab Target 2050 Fund | 1,498 | 1,871 |
Schwab Target 2055 Fund | 1,252 | 1,743 |
Schwab Target 2060 Fund* | — | — |
* | Since commencement of operations 8/25/16. |
Schwab Target 2010 Fund | Schwab Target 2015 Fund | Schwab Target 2020 Fund | Schwab Target 2025 Fund | Schwab Target 2030 Fund | Schwab Target 2035 Fund | Schwab Target 2040 Fund | |||||||
Undistributed ordinary income | $563,491 | $1,227,379 | $4,421,264 | $3,574,081 | $5,331,532 | $2,033,251 | $4,297,568 | ||||||
Undistributed long-term capital gains | — | 2,953,403 | 18,802,004 | 14,574,262 | 32,066,453 | 14,084,150 | 40,494,831 | ||||||
Unrealized appreciation on investments | 5,353,620 | 7,843,939 | 51,219,954 | 26,170,043 | 99,039,100 | 23,404,491 | 103,428,721 | ||||||
Unrealized depreciation on investments | (178,028) | (532,786) | (4,112,783) | (4,867,931) | (8,042,298) | (5,015,241) | (9,954,514) | ||||||
Net unrealized appreciation (depreciation) | $5,175,592 | $7,311,153 | $47,107,171 | $21,302,112 | $90,996,802 | $18,389,250 | $93,474,207 |
Schwab Target 2045 Fund | Schwab Target 2050 Fund | Schwab Target 2055 Fund | Schwab Target 2060 Fund | ||||
Undistributed ordinary income | $264,792 | $197,849 | $96,750 | $376 | |||
Undistributed long-term capital gains | 3,145,750 | 2,629,016 | 1,461,164 | — | |||
Unrealized appreciation on investments | 1,509,798 | 1,249,659 | 696,649 | 258 | |||
Unrealized depreciation on investments | (3,980,875) | (3,199,359) | (1,789,082) | (10,887) | |||
Net unrealized appreciation (depreciation) | ($2,471,077) | ($1,949,700) | ($1,092,433) | ($10,629) |
Expiration Date | Schwab Target 2010 Fund | Schwab Target 2015 Fund | Schwab Target 2020 Fund | Schwab Target 2025 Fund | Schwab Target 2030 Fund | Schwab Target 2035 Fund | Schwab Target 2040 Fund | ||||||
October 31, 2017 | $7,386,896 | $— | $— | $— | $— | $— | $— | ||||||
Total | $7,386,896 | $— | $— | $— | $— | $— | $— |
Expiration Date | Schwab Target 2045 Fund | Schwab Target 2050 Fund | Schwab Target 2055 Fund | Schwab Target 2060 Fund | |||
October 31, 2017 | $— | $— | $— | $— | |||
Total | $— | $— | $— | $— |
Schwab Target 2010 Fund | Schwab Target 2015 Fund | Schwab Target 2020 Fund | Schwab Target 2025 Fund | Schwab Target 2030 Fund | Schwab Target 2035 Fund | Schwab Target 2040 Fund | |
Capital loss carryforwards utilized | $1,867,233 | $— | $— | $— | $— | $— | $— |
Schwab Target 2045 Fund | Schwab Target 2050 Fund | Schwab Target 2055 Fund | Schwab Target 2060 Fund | |
Capital loss carryforwards utilized | $— | $— | $— | $— |
Schwab Target 2010 Fund | Schwab Target 2015 Fund | Schwab Target 2020 Fund | Schwab Target 2025 Fund | Schwab Target 2030 Fund | Schwab Target 2035 Fund | Schwab Target 2040 Fund | |
Current period distributions | |||||||
Ordinary income | $1,128,027 | $2,365,308 | $10,024,736 | $9,159,638 | $18,416,804 | $7,659,556 | $19,011,206 |
Long-term capital gains | — | 5,051,306 | 18,650,147 | 17,845,703 | 48,704,710 | 17,812,485 | 57,371,095 |
Prior period distributions | |||||||
Ordinary income | $1,277,875 | $2,842,263 | $10,865,751 | $9,644,844 | $16,692,788 | $7,810,087 | $18,123,716 |
Long-term capital gains | — | 4,404,370 | — | 9,175,384 | 9,243,382 | 9,125,690 | 16,937,962 |
Schwab Target 2045 Fund | Schwab Target 2050 Fund | Schwab Target 2055 Fund | Schwab Target 2060 Fund | |
Current period distributions | ||||
Ordinary income | $1,239,407 | $1,001,880 | $539,934 | $— |
Long-term capital gains | 2,410,714 | 1,983,116 | 1,092,479 | — |
Prior period distributions | ||||
Ordinary income | $1,032,882 | $830,660 | $449,182 | $— |
Long-term capital gains | 569,067 | 451,787 | 247,620 | — |
Schwab Target 2010 Fund | Schwab Target 2015 Fund | Schwab Target 2020 Fund | Schwab Target 2025 Fund | Schwab Target 2030 Fund | Schwab Target 2035 Fund | Schwab Target 2040 Fund | |
Capital shares | $— | $— | $— | $— | $— | $— | $— |
Undistributed net investment income | 200,166 | 374,631 | 2,226,469 | 1,936,138 | 4,064,556 | 1,842,004 | 4,810,510 |
Net realized capital gains (losses) | (200,166) | (374,631) | (2,226,469) | (1,936,138) | (4,064,556) | (1,842,004) | (4,810,510) |
Schwab Target 2045 Fund | Schwab Target 2050 Fund | Schwab Target 2055 Fund | Schwab Target 2060 Fund | |
Capital shares | $— | $— | $— | $— |
Undistributed net investment income | 399,374 | 329,834 | 182,408 | — |
Net realized capital gains (losses) | (399,374) | (329,834) | (182,408) | — |
11. Subsequent Events:
Schwab Target 2010 Fund
Schwab Target 2015 Fund
Schwab Target 2020 Fund
Schwab Target 2025 Fund
Schwab Target 2030 Fund
Schwab Target 2035 Fund
Schwab Target 2040 Fund
Schwab Target 2045 Fund
Schwab Target 2050 Fund
Schwab Target 2055 Fund
Schwab Target 2060 Fund
San Francisco, California
December 16, 2016
Percentage | |
Schwab Target 2010 Fund | 21.70 |
Schwab Target 2015 Fund | 19.57 |
Schwab Target 2020 Fund | 27.33 |
Schwab Target 2025 Fund | 27.88 |
Schwab Target 2030 Fund | 31.65 |
Schwab Target 2035 Fund | 34.37 |
Schwab Target 2040 Fund | 36.95 |
Schwab Target 2045 Fund | 42.48 |
Schwab Target 2050 Fund | 43.61 |
Schwab Target 2055 Fund | 44.99 |
Schwab Target 2060 Fund | — |
Schwab Target 2010 Fund | $334,779 |
Schwab Target 2015 Fund | 639,161 |
Schwab Target 2020 Fund | 3,909,413 |
Schwab Target 2025 Fund | 3,684,174 |
Schwab Target 2030 Fund | 8,517,724 |
Schwab Target 2035 Fund | 3,888,222 |
Schwab Target 2040 Fund | 10,493,403 |
Schwab Target 2045 Fund | 789,724 |
Schwab Target 2050 Fund | 657,943 |
Schwab Target 2055 Fund | 367,124 |
Schwab Target 2060 Fund | — |
Schwab Target 2010 Fund | $— |
Schwab Target 2015 Fund | 5,051,306 |
Schwab Target 2020 Fund | 18,650,147 |
Schwab Target 2025 Fund | 17,845,703 |
Schwab Target 2030 Fund | 48,704,710 |
Schwab Target 2035 Fund | 17,812,485 |
Schwab Target 2040 Fund | 57,371,095 |
Schwab Target 2045 Fund | 2,410,714 |
Schwab Target 2050 Fund | 1,983,116 |
Schwab Target 2055 Fund | 1,092,479 |
Schwab Target 2060 Fund | — |
1. | the nature, extent and quality of the services provided to the Funds under the Agreement, including the resources of CSIM and its affiliates dedicated to the Funds; |
2. | each Fund’s investment performance and how it compared to that of certain other comparable mutual funds; |
3. | each Fund’s expenses and how those expenses compared to those of certain other comparable mutual funds, exchange-traded funds and other accounts; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (Schwab), with respect to each Fund, including both direct and indirect benefits accruing to CSIM and its affiliates; and |
5. | the extent to which economies of scale would be realized as the Funds grow and whether fee levels in the Agreement reflect those economies of scale for the benefit of Fund investors. |
1. | the nature, extent and quality of the services to be provided to the Fund under the Agreement, including the resources CSIM and its affiliates will dedicate to the Fund; |
2. | CSIM’s investment performance in managing other funds having relevant investment objectives and strategies; |
3. | the Fund’s estimated expenses and how those expenses compare to those of certain other comparable mutual funds; |
4. | the profitability of CSIM and its affiliates, including Charles Schwab & Co., Inc. (“Schwab”), with respect to management of other similar funds, including both direct and indirect benefits accruing to CSIM and its affiliates; and |
5. | the extent to which economies of scale would be realized as the Fund grows and whether fee levels in the Agreement relating to the Fund reflect those economies of scale for the benefit of Fund investors. |
Independent Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Robert W. Burns 1959 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | Retired/Private Investor (Jan. 2009 – present). Formerly, Managing Director, Pacific Investment Management Company, LLC (PIMCO) and President, PIMCO Funds. | 108 | Director, PS Business Parks, Inc. (2005 – 2012) |
John F. Cogan 1947 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Fellow, The Hoover Institution at Stanford University (Oct. 1979 – present); Senior Fellow, Stanford Institute for Economic Policy Research (2000 – present); Professor of Public Policy, Stanford University (1994 – 2015). | 108 | Director, Gilead Sciences, Inc. (2005 – present) |
Stephen Timothy Kochis 1946 Trustee (Trustee of Schwab Strategic Trust since 2012; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2016) | CEO and Owner, Kochis Global (wealth management consulting) (May 2012 – present); Chairman and CEO, Aspiriant, LLC (wealth management) (Jan. 2008 – Apr. 2012). | 108 | None |
David L. Mahoney 1954 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Private Investor. | 108 | Director, Symantec Corporation (2003 – present) Director, Corcept Therapeutics Incorporated (2004 – present) Director, Adamas Pharmaceuticals, Inc. (2009 – present) |
Independent Trustees (continued) | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Kiran M. Patel 1948 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2011; Schwab Strategic Trust since 2016) | Retired. Executive Vice President and General Manager of Small Business Group, Intuit, Inc. (financial software and services firm for consumers and small businesses) (Dec. 2008 – Sept. 2013). | 108 | Director, KLA-Tencor Corporation (2008 – present) |
Kimberly S. Patmore 1956 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Consultant, Patmore Management Consulting (management consulting) (2008 – present). | 108 | None |
Charles A. Ruffel 1956 Trustee (Trustee of Schwab Strategic Trust since 2009; The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2015) | Co-Chief Executive Officer, Kudu Investment Management, LLC (financial services) (Jan. 2015 – present); Partner, Kudu Advisors, LLC (financial services) (June 2008 – Jan. 2015); Advisor, Asset International, Inc. (publisher of financial services information) (Aug. 2008 – Jan. 2015). | 108 | None |
Gerald B. Smith 1950 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2000; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Chairman, Chief Executive Officer and Founder of Smith Graham & Co. (investment advisors) (Mar. 1990 – present). | 108 | Director, Eaton (2012 – present) Director and Chairman of the Audit Committee, Oneok Partners LP (2003 – 2013) Director, Oneok, Inc. (2009 – 2013) Lead Independent Director, Board of Cooper Industries (2002 – 2012) |
Joseph H. Wender 1944 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Laudus Trust since 2010; Schwab Strategic Trust since 2016) | Senior Consultant, Goldman Sachs & Co., Inc. (investment banking and securities firm) (Jan. 2008 – present); Partner, Colgin Partners, LLC (vineyards) (Feb. 1998 – present). | 108 | Board Member and Chairman of the Audit Committee, Ionis Pharmaceuticals (1994 – present) Lead Independent Director and Chair of Audit Committee, OUTFRONT Media Inc. (2014 – present) |
Interested Trustees | |||
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served1) | Principal Occupations During the Past Five Years | Number of Portfolios in Fund Complex Overseen by the Trustee | Other Directorships |
Walter W. Bettinger II2 1960 Chairman and Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2008; Schwab Strategic Trust since 2009; Laudus Trust since 2010) | Director, President and Chief Executive Officer, The Charles Schwab Corporation (Oct. 2008 – present); President and Chief Executive Officer (Oct. 2008 – present), Director (May 2008 – present), Charles Schwab & Co., Inc.; Director, Charles Schwab Bank (Apr. 2006 – present); and Director, Schwab Holdings, Inc. (May 2008 – present). | 108 | Director, The Charles Schwab Corporation (2008 – present) |
Marie A. Chandoha2 1961 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; Trustee (Jan. 2016 – present), President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Jan. 2011 – present); Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (Mar. 2007 – Aug. 2010). | 108 | None |
Joseph R. Martinetto2 1962 Trustee (Trustee of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2016) | Senior Executive Vice President and Chief Financial Officer, The Charles Schwab Corporation and Charles Schwab & Co., Inc. (July 2015 – present); Executive Vice President and Chief Financial Officer of The Charles Schwab Corporation and Charles Schwab & Co., Inc. (May 2007 – July 2015); Director, Charles Schwab & Co., Inc. (May 2007 – present); Director (Apr. 2010 – present) and Chief Executive Officer (July 2013 – Apr. 2015), Charles Schwab Bank; Director, Executive Vice President and Chief Financial Officer, Schwab Holdings, Inc. (May 2007 – present). | 108 | None |
Officers of the Trust | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
Marie A. Chandoha 1961 President and Chief Executive Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2010) | Director, President and Chief Executive Officer (Dec. 2010 – present), Chief Investment Officer (Sept. 2010 – Oct. 2011), Charles Schwab Investment Management, Inc.; Trustee (Jan. 2016 – present), President, Chief Executive Officer (Dec. 2010 – present), and Chief Investment Officer (Sept. 2010 – Oct. 2011), Schwab Funds, Laudus Funds and Schwab ETFs; Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Jan. 2011 – present); Global Head of Fixed Income Business Division, BlackRock, Inc. (formerly Barclays Global Investors) (Mar. 2007 – Aug. 2010). |
Mark Fischer 1970 Treasurer and Chief Financial Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2013) | Treasurer and Chief Financial Officer, Schwab Funds, Laudus Funds and Schwab ETFs (Jan. 2016 – present); Assistant Treasurer, Schwab Funds and Laudus Funds (Dec. 2013 – Dec. 2015), Schwab ETFs (Nov. 2013 – Dec. 2015); Vice President, Charles Schwab Investment Management, Inc. (Oct. 2013 – present); Executive Director, J.P. Morgan Investor Services (Apr. 2011 – Sept. 2013); Assistant Treasurer, Massachusetts Financial Service Investment Management (May 2005 – Mar. 2011). |
Officers of the Trust (continued) | |
Name, Year of Birth, and Position(s) with the trust (Terms of office, and length of Time Served3) | Principal Occupations During the Past Five Years |
George Pereira 1964 Senior Vice President and Chief Operating Officer (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust and Schwab Annuity Portfolios since 2004; Laudus Trust since 2006; Schwab Strategic Trust since 2009) | Senior Vice President and Chief Financial Officer (Nov. 2004 – present), Chief Operating Officer (Jan. 2011 – present), Charles Schwab Investment Management, Inc.; Senior Vice President and Chief Operating Officer (Jan. 2016 – present), Treasurer and Chief Financial Officer, Laudus Funds (June 2006 – Dec. 2015); Treasurer and Principal Financial Officer, Schwab Funds (Nov. 2004 – Dec. 2015) and Schwab ETFs (Oct. 2009 – Dec. 2015); Director, Charles Schwab Worldwide Funds plc and Charles Schwab Asset Management (Ireland) Limited (Apr. 2005 – present). |
Omar Aguilar 1970 Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer – Equities and Multi-Asset Strategies, Charles Schwab Investment Management, Inc. (Apr. 2011 – present); Senior Vice President and Chief Investment Officer – Equities, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Head of the Portfolio Management Group and Vice President of Portfolio Management, Financial Engines, Inc. (May 2009 – Apr. 2011); Head of Quantitative Equity, ING Investment Management (July 2004 – Jan. 2009). |
Brett Wander 1961 Senior Vice President and Chief Investment Officer – Fixed Income (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President and Chief Investment Officer – Fixed Income, Charles Schwab Investment Management, Inc. (Apr. 2011 – present); Senior Vice President and Chief Investment Officer – Fixed Income, Schwab Funds, Laudus Funds and Schwab ETFs (June 2011 – present); Senior Managing Director, Global Head of Active Fixed-Income Strategies, State Street Global Advisors (Jan. 2008 – Oct. 2010); Director of Alpha Strategies Loomis, Sayles & Company (Apr. 2006 – Jan. 2008). |
David Lekich 1964 Chief Legal Officer and Secretary, Schwab Funds and Schwab ETFs Vice President and Assistant Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios, Schwab Strategic Trust and Laudus Trust since 2011) | Senior Vice President (Sept. 2011 – present), Vice President (Mar. 2004 – Sept. 2011), Charles Schwab & Co., Inc.; Senior Vice President and Chief Counsel (Sept. 2011 – present), Vice President (Jan. 2011 – Sept. 2011), Charles Schwab Investment Management, Inc.; Secretary (Apr. 2011 – present) and Chief Legal Officer (Dec. 2011 – present), Schwab Funds; Vice President and Assistant Clerk, Laudus Funds (Apr. 2011 – present); Secretary (May 2011 – present) and Chief Legal Officer (Nov. 2011 – present), Schwab ETFs. |
Catherine MacGregor 1964 Vice President and Assistant Secretary, Schwab Funds and Schwab ETFs Chief Legal Officer, Vice President and Clerk, Laudus Funds (Officer of The Charles Schwab Family of Funds, Schwab Investments, Schwab Capital Trust, Schwab Annuity Portfolios and Laudus Trust since 2005; Schwab Strategic Trust since 2009) | Vice President, Charles Schwab & Co., Inc., Charles Schwab Investment Management, Inc. (July 2005 – present); Vice President (Dec. 2005 – present), Chief Legal Officer and Clerk (Mar. 2007 – present), Laudus Funds; Vice President (Nov. 2005 – present) and Assistant Secretary (June 2007 – present), Schwab Funds; Vice President and Assistant Secretary, Schwab ETFs (Oct. 2009 – present). |
1 | Each Trustee shall hold office until the election and qualification of his or her successor, or until he or she dies, resigns or is removed. The retirement policy requires that each independent trustee retire by December 31 of the year in which the Trustee turns 74 or the Trustee’s twentieth year of service as an independent trustee on any trust in the Fund Complex, whichever occurs first. |
2 | Mr. Bettinger, Ms. Chandoha, and Mr. Martinetto are Interested Trustees because they own stock of The Charles Schwab Corporation, the parent company of the investment adviser. |
3 | The President, Treasurer and Secretary/Clerk hold office until their respective successors are chosen and qualified or until he or she sooner dies, resigns, is removed or becomes disqualified. Each of the other officers serves at the pleasure of the Board. |
THIS IS NOT PART OF THE SHAREHOLDER REPORT
INFORMATION.
INFORMATION.
Partnership
Member SIPC®
Printed on recycled paper.
1 | You could lose money by investing in a money market fund. All Schwab Money Funds with the exception of Schwab Variable Share Price Money Fund seek to preserve the value of your investment at $1.00 per share, but cannot guarantee they will do so. Effective October 14, 2016, all Schwab Money Funds with the exception of Schwab Government Money Fund, Schwab Retirement Government Money Fund, Schwab U.S. Treasury Money Fund, Schwab Treasury Obligations Money Fund and Schwab Government Money Market Portfolio may impose a fee upon the sale of your shares or may temporarily suspend your ability to sell shares if the fund’s liquidity falls below required minimums because of market conditions or other factors. An investment in a money market fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The money market fund's sponsor has no legal obligation to provide financial support to the fund, and you should not expect that the sponsor will provide financial support to the fund at any time. |
![](https://capedge.com/proxy/N-CSR/0001193125-17-003115/g56854img969afbbb1.jpg)
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Table of Contents
Item 2: Code of Ethics.
(a) | Registrant has adopted a code of ethics that applies to its principal executive officer, principal financial officer, and any other persons who perform a similar function, regardless of whether these individuals are employed by Registrant or a third party. |
(c) | During the period covered by the report, no amendments were made to the provisions of this code of ethics. |
(d) | During the period covered by the report, Registrant did not grant any waivers, including implicit waivers, from the provisions of this code of ethics. |
(f)(1) | Registrant has filed this code of ethics as an exhibit pursuant to Item 12(a)(1) of Form N-CSR. |
Item 3: Audit Committee Financial Expert.
Registrant’s Board of Trustees has determined that Kiran M. Patel, Robert W. Burns and Kimberly S. Patmore, each currently serving on its audit, compliance and valuation committee, are each an “audit committee financial expert,” as such term is defined in Item 3 of Form N-CSR. Each member of Registrant’s audit, compliance and valuation committee is “independent” under the standards set forth in Item 3 of Form N-CSR.
The designation of each of Mr. Patel, Mr. Burns and Ms. Patmore as an “audit committee financial expert” pursuant to Item 3 of Form N-CSR does not (i) impose upon such individual any duties, obligations, or liability that are greater than the duties, obligations and liability imposed upon such individual as a member of Registrant’s audit, compliance and valuation committee or Board of Trustees in the absence of such designation; and (ii) affect the duties, obligations or liability of any other member of Registrant’s audit, compliance and valuation committee or Board of Trustees.
Item 4: Principal Accountant Fees and Services.
Registrant is composed of forty-nine series, as of October 31, 2016. Thirty-four series have a fiscal year-end of October 31, whose annual financial statements are reported in Item 1, three series have a fiscal year-end of December 31, eleven series have a fiscal year-end of March 31, and one series has a fiscal year-end of February 28. Principal accountant fees disclosed in Items 4(a)-(d) and 4(g) include fees billed for services rendered to the registrant’s series, based on their respective 2016 and 2015 fiscal years, as applicable.
The following table presents fees billed by the principal accountant in each of the last two fiscal years for the services rendered to the Funds:
Table of Contents
(a) Audit Fees | (b)Audit-Related Fees1 | (c) Tax Fees2 | (d) All Other Fees3 | |||||||||||||||||||||||||||
Fiscal Year 2016 | Fiscal Year 2015 | Fiscal Year 2016 | Fiscal Year 2015 | Fiscal Year 2016 | Fiscal Year 2015 | Fiscal Year 2016 | Fiscal Year 2015 | |||||||||||||||||||||||
$ | 1,176,105 | $ | 1,275,248 | $ | 0 | $ | 0 | $ | 117,450 | $ | 126,645 | $ | 0 | $ | 11,487 |
1 | The nature of the services includes assurance and related services reasonably related to the performance of the audit of financial statements not included in Audit Fees. |
2 | The nature of the services includes tax compliance. |
3 | The nature of the services include agreed upon procedures relating to Charles Schwab Investment Management., Inc.’s, (“CSIM”) expenses for purposes of Section 15(c) of the Investment Company Act of 1940. |
(e) (1) | Registrant’s audit, compliance and valuation committee does not have pre-approval policies and procedures as described in paragraph (c)(7) of Rule 2-01 of Regulation S-X. |
(2) | There were no services described in each of paragraphs (b) through (d) above (including services required to be approved by Registrant’s audit, compliance and valuation committee pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X) that were approved by Registrant’s audit, compliance and valuation committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X. |
(f) | Not applicable. |
(g) | Below are the aggregate non-audit fees billed in each of the last two fiscal years by Registrant’s principal accountant for services rendered to Registrant, to Registrant’s investment adviser, and to any entity controlling, controlled by, or under common control with Registrant’s investment adviser that provides ongoing services to Registrant. |
2016: $117,450 2015: $138,132
(h) | During the past fiscal year, all non-audit services provided by Registrant’s principal accountant to either Registrant’s investment adviser or to any entity controlling, controlled by, or under common control with Registrant’s investment adviser that provides ongoing services to Registrant were pre-approved. Included in the audit, compliance and valuation committee’s pre-approval was the review and consideration as to whether the provision of these non-audit services is compatible with maintaining the principal accountant’s independence. |
Item 5: Audit Committee of Listed Registrants.
Not applicable.
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Item 6: Schedule of Investments.
Except as noted below, the condensed schedules of investments are included as part of the report to shareholders filed under Item 1 of this Form. The schedules of investments for the Schwab Fundamental US Large Company Index Fund, Schwab Fundamental US Small Company Index Fund, Schwab Fundamental International Large Company Index Fund, Schwab Fundamental International Small Company Index Fund, Schwab Fundamental Emerging Markets Large Company Index Fund, Schwab S&P 500 Index Fund, Schwab Small-Cap Index Fund, Schwab Total Stock Market Index Fund and Schwab International Index Fund are filed under this Item.
Table of Contents
Holdings by Category | Cost ($) | Value ($) | |
99.2% | Common Stock | 12,998,840,544 | 22,513,476,544 |
0.1% | Other Investment Company | 13,893,103 | 13,893,103 |
0.5% | Short-Term Investments | 112,832,837 | 112,832,837 |
99.8% | Total Investments | 13,125,566,484 | 22,640,202,484 |
0.2% | Other Assets and Liabilities, Net | 34,334,702 | |
100.0% | Net Assets | 22,674,537,186 |
Security | Number of Shares | Value ($) |
Common Stock 99.2% of net assets | ||
Automobiles & Components 0.7% | ||
Adient plc * | 114,490 | 5,210,440 |
BorgWarner, Inc. | 261,400 | 9,368,576 |
Delphi Automotive plc | 336,400 | 21,889,548 |
Ford Motor Co. | 4,792,797 | 56,267,437 |
General Motors Co. | 1,742,800 | 55,072,480 |
Harley-Davidson, Inc. | 223,470 | 12,742,259 |
The Goodyear Tire & Rubber Co. | 304,936 | 8,852,292 |
169,403,032 | ||
Banks 5.7% | ||
Bank of America Corp. | 12,504,611 | 206,326,081 |
BB&T Corp. | 1,002,426 | 39,295,099 |
Citigroup, Inc. | 3,554,447 | 174,701,070 |
Citizens Financial Group, Inc. | 622,000 | 16,383,480 |
Comerica, Inc. | 211,070 | 10,994,636 |
Fifth Third Bancorp | 940,929 | 20,474,615 |
Huntington Bancshares, Inc. | 1,354,493 | 14,357,626 |
JPMorgan Chase & Co. | 4,430,631 | 306,865,503 |
KeyCorp | 1,327,498 | 18,744,272 |
M&T Bank Corp. | 192,098 | 23,576,188 |
People's United Financial, Inc. | 343,300 | 5,575,192 |
Regions Financial Corp. | 1,567,445 | 16,787,336 |
SunTrust Banks, Inc. | 605,816 | 27,401,058 |
The PNC Financial Services Group, Inc. | 605,578 | 57,893,257 |
U.S. Bancorp | 1,967,128 | 88,048,649 |
Wells Fargo & Co. | 5,564,409 | 256,018,458 |
Zions Bancorp | 250,998 | 8,084,646 |
1,291,527,166 | ||
Capital Goods 7.2% | ||
3M Co. | 740,119 | 122,341,671 |
Acuity Brands, Inc. | 53,000 | 11,849,210 |
Alcoa, Inc. | 517,849 | 14,872,637 |
Allegion plc | 115,333 | 7,362,859 |
AMETEK, Inc. | 289,400 | 12,762,540 |
Caterpillar, Inc. | 722,462 | 60,296,678 |
Cummins, Inc. | 186,362 | 23,820,791 |
Deere & Co. | 350,686 | 30,965,574 |
Dover Corp. | 181,270 | 12,125,150 |
Eaton Corp. plc | 563,338 | 35,924,064 |
Emerson Electric Co. | 792,315 | 40,154,524 |
Security | Number of Shares | Value ($) |
Fastenal Co. | 355,398 | 13,853,414 |
Flowserve Corp. | 150,300 | 6,365,205 |
Fluor Corp. | 174,382 | 9,066,120 |
Fortive Corp. | 361,987 | 18,479,436 |
Fortune Brands Home & Security, Inc. | 185,000 | 10,106,550 |
General Dynamics Corp. | 353,060 | 53,220,264 |
General Electric Co. | 10,990,757 | 319,831,029 |
Honeywell International, Inc. | 927,029 | 101,676,541 |
Illinois Tool Works, Inc. | 389,036 | 44,182,819 |
Ingersoll-Rand plc | 308,100 | 20,732,049 |
Jacobs Engineering Group, Inc. * | 139,834 | 7,212,638 |
Johnson Controls International plc | 1,144,902 | 46,162,449 |
L-3 Communications Holdings, Inc. | 97,283 | 13,321,934 |
Lockheed Martin Corp. | 310,291 | 76,449,497 |
Masco Corp. | 419,488 | 12,953,789 |
Northrop Grumman Corp. | 218,167 | 49,960,243 |
PACCAR, Inc. | 431,250 | 23,684,250 |
Parker-Hannifin Corp. | 164,036 | 20,135,419 |
Pentair plc | 208,982 | 11,521,178 |
Quanta Services, Inc. * | 179,900 | 5,172,125 |
Raytheon Co. | 358,588 | 48,986,707 |
Rockwell Automation, Inc. | 159,921 | 19,145,742 |
Rockwell Collins, Inc. | 158,605 | 13,373,574 |
Roper Technologies, Inc. | 123,800 | 21,455,778 |
Snap-on, Inc. | 72,782 | 11,215,706 |
Stanley Black & Decker, Inc. | 179,881 | 20,477,653 |
Textron, Inc. | 316,904 | 12,701,512 |
The Boeing Co. | 711,954 | 101,403,608 |
TransDigm Group, Inc. | 61,000 | 16,620,060 |
United Rentals, Inc. * | 110,100 | 8,330,166 |
United Technologies Corp. | 956,158 | 97,719,348 |
W.W. Grainger, Inc. | 69,927 | 14,553,207 |
Xylem, Inc. | 227,400 | 10,990,242 |
1,633,535,950 | ||
Commercial & Professional Supplies 0.6% | ||
Cintas Corp. | 99,576 | 10,621,772 |
Equifax, Inc. | 146,261 | 18,131,976 |
Nielsen Holdings plc | 416,600 | 18,755,332 |
Pitney Bowes, Inc. | 231,591 | 4,131,583 |
Republic Services, Inc. | 289,334 | 15,227,648 |
Robert Half International, Inc. | 156,742 | 5,865,286 |
Stericycle, Inc. * | 98,600 | 7,896,874 |
The Dun & Bradstreet Corp. | 46,800 | 5,842,980 |
Verisk Analytics, Inc. * | 185,000 | 15,086,750 |
Waste Management, Inc. | 497,616 | 32,673,467 |
134,233,668 | ||
Consumer Durables & Apparel 1.3% | ||
Coach, Inc. | 327,028 | 11,737,035 |
D.R. Horton, Inc. | 422,016 | 12,166,721 |
Garmin Ltd. | 155,100 | 7,500,636 |
Hanesbrands, Inc. | 481,600 | 12,377,120 |
Harman International Industries, Inc. | 85,956 | 6,851,553 |
Hasbro, Inc. | 139,417 | 11,628,772 |
Leggett & Platt, Inc. | 157,894 | 7,244,177 |
Lennar Corp., Class A | 220,318 | 9,185,057 |
Security | Number of Shares | Value ($) |
Mattel, Inc. | 415,494 | 13,100,526 |
Michael Kors Holdings Ltd. * | 212,100 | 10,770,438 |
Mohawk Industries, Inc. * | 78,300 | 14,430,690 |
Newell Brands, Inc. | 593,050 | 28,478,261 |
NIKE, Inc., Class B | 1,645,148 | 82,553,527 |
PulteGroup, Inc. | 370,186 | 6,885,459 |
PVH Corp. | 99,900 | 10,687,302 |
Ralph Lauren Corp. | 69,126 | 6,781,261 |
Under Armour, Inc., Class A *(b) | 224,300 | 6,975,730 |
Under Armour, Inc., Class C * | 225,892 | 5,841,567 |
VF Corp. | 410,264 | 22,240,411 |
Whirlpool Corp. | 89,922 | 13,472,114 |
300,908,357 | ||
Consumer Services 1.6% | ||
Carnival Corp. | 529,221 | 25,984,751 |
Chipotle Mexican Grill, Inc. * | 36,959 | 13,333,329 |
Darden Restaurants, Inc. | 146,748 | 9,507,803 |
H&R Block, Inc. | 284,905 | 6,544,268 |
Marriott International, Inc., Class A | 389,926 | 26,787,916 |
McDonald's Corp. | 1,045,738 | 117,718,726 |
Royal Caribbean Cruises Ltd. | 198,200 | 15,235,634 |
Starbucks Corp. | 1,796,524 | 95,341,529 |
Wyndham Worldwide Corp. | 136,364 | 8,978,206 |
Wynn Resorts Ltd. | 95,000 | 8,982,250 |
Yum! Brands, Inc. | 425,085 | 36,676,334 |
365,090,746 | ||
Diversified Financials 4.8% | ||
Affiliated Managers Group, Inc. * | 66,000 | 8,755,560 |
American Express Co. | 952,241 | 63,247,847 |
Ameriprise Financial, Inc. | 198,514 | 17,546,652 |
Berkshire Hathaway, Inc., Class B * | 2,326,030 | 335,646,129 |
BlackRock, Inc. | 150,000 | 51,186,000 |
Capital One Financial Corp. | 620,574 | 45,947,299 |
CME Group, Inc. | 416,385 | 41,680,138 |
Discover Financial Services | 487,773 | 27,476,253 |
E*TRADE Financial Corp. * | 354,519 | 9,983,255 |
Franklin Resources, Inc. | 420,905 | 14,167,662 |
Intercontinental Exchange, Inc. | 145,966 | 39,467,747 |
Invesco Ltd. | 497,347 | 13,970,477 |
Legg Mason, Inc. | 103,898 | 2,983,951 |
Leucadia National Corp. | 379,851 | 7,091,818 |
Moody's Corp. | 201,329 | 20,237,591 |
Morgan Stanley | 1,814,854 | 60,924,649 |
Nasdaq, Inc. | 142,400 | 9,109,328 |
Navient Corp. | 373,300 | 4,770,774 |
Northern Trust Corp. | 256,018 | 18,540,824 |
S&P Global, Inc. | 321,467 | 39,170,754 |
State Street Corp. | 449,326 | 31,547,178 |
Synchrony Financial | 970,499 | 27,746,566 |
T. Rowe Price Group, Inc. | 303,279 | 19,412,889 |
The Bank of New York Mellon Corp. | 1,308,473 | 56,617,627 |
The Charles Schwab Corp. (a) | 1,480,381 | 46,928,078 |
The Goldman Sachs Group, Inc. | 461,469 | 82,252,235 |
1,096,409,281 | ||
Energy 7.1% | ||
Anadarko Petroleum Corp. | 668,709 | 39,748,063 |
Apache Corp. | 467,906 | 27,831,049 |
Baker Hughes, Inc. | 536,363 | 29,714,510 |
Cabot Oil & Gas Corp. | 557,100 | 11,632,248 |
Chesapeake Energy Corp. * | 798,966 | 4,402,303 |
Chevron Corp. | 2,308,834 | 241,850,361 |
Cimarex Energy Co. | 119,500 | 15,431,035 |
Security | Number of Shares | Value ($) |
Concho Resources, Inc. * | 174,377 | 22,135,416 |
ConocoPhillips | 1,516,590 | 65,895,836 |
Devon Energy Corp. | 641,058 | 24,289,688 |
EOG Resources, Inc. | 677,412 | 61,251,593 |
EQT Corp. | 206,500 | 13,629,000 |
Exxon Mobil Corp. | 5,079,241 | 423,202,360 |
FMC Technologies, Inc. * | 275,300 | 8,883,931 |
Halliburton Co. | 1,045,268 | 48,082,328 |
Helmerich & Payne, Inc. | 124,700 | 7,869,817 |
Hess Corp. | 324,840 | 15,582,575 |
Kinder Morgan, Inc. | 2,351,244 | 48,035,915 |
Marathon Oil Corp. | 1,069,452 | 14,095,377 |
Marathon Petroleum Corp. | 659,352 | 28,741,154 |
Murphy Oil Corp. | 184,892 | 4,783,156 |
National Oilwell Varco, Inc. | 454,724 | 14,596,640 |
Newfield Exploration Co. * | 244,700 | 9,932,373 |
Noble Energy, Inc. | 531,268 | 18,312,808 |
Occidental Petroleum Corp. | 936,250 | 68,261,987 |
ONEOK, Inc. | 253,100 | 12,257,633 |
Phillips 66 | 544,795 | 44,210,114 |
Pioneer Natural Resources Co. | 207,900 | 37,218,258 |
Range Resources Corp. | 230,100 | 7,775,079 |
Schlumberger Ltd. | 1,710,428 | 133,806,782 |
Southwestern Energy Co. * | 607,000 | 6,306,730 |
Spectra Energy Corp. | 859,009 | 35,915,166 |
Tesoro Corp. | 139,107 | 11,819,922 |
The Williams Cos., Inc. | 836,398 | 24,422,822 |
Transocean Ltd. * | 424,000 | 4,074,640 |
Valero Energy Corp. | 560,240 | 33,188,618 |
1,619,187,287 | ||
Food & Staples Retailing 2.1% | ||
Costco Wholesale Corp. | 536,692 | 79,360,646 |
CVS Health Corp. | 1,304,251 | 109,687,509 |
Sysco Corp. | 621,657 | 29,914,135 |
The Kroger Co. | 1,173,794 | 36,364,138 |
Wal-Mart Stores, Inc. | 1,854,002 | 129,817,220 |
Walgreens Boots Alliance, Inc. | 1,052,511 | 87,074,235 |
Whole Foods Market, Inc. | 384,632 | 10,881,239 |
483,099,122 | ||
Food, Beverage & Tobacco 5.7% | ||
Altria Group, Inc. | 2,396,391 | 158,449,373 |
Archer-Daniels-Midland Co. | 724,899 | 31,583,850 |
Brown-Forman Corp., Class B | 222,884 | 10,290,554 |
Campbell Soup Co. | 239,711 | 13,025,896 |
ConAgra Foods, Inc. | 506,549 | 24,405,531 |
Constellation Brands, Inc., Class A | 219,065 | 36,610,143 |
Dr Pepper Snapple Group, Inc. | 231,700 | 20,340,943 |
General Mills, Inc. | 735,480 | 45,585,050 |
Hormel Foods Corp. | 325,600 | 12,535,600 |
Kellogg Co. | 307,734 | 23,120,055 |
McCormick & Co., Inc. - Non Voting Shares | 142,802 | 13,690,428 |
Mead Johnson Nutrition Co. | 220,800 | 16,509,216 |
Molson Coors Brewing Co., Class B | 224,930 | 23,349,983 |
Mondelez International, Inc., Class A | 1,894,654 | 85,145,751 |
Monster Beverage Corp. * | 165,000 | 23,816,100 |
PepsiCo, Inc. | 1,760,463 | 188,721,634 |
Philip Morris International, Inc. | 1,900,746 | 183,307,944 |
Reynolds American, Inc. | 1,006,250 | 55,424,250 |
The Coca-Cola Co. | 4,756,456 | 201,673,734 |
The Hershey Co. | 170,528 | 17,472,299 |
The JM Smucker Co. | 140,875 | 18,498,296 |
Security | Number of Shares | Value ($) |
The Kraft Heinz Co. | 731,418 | 65,059,631 |
Tyson Foods, Inc., Class A | 370,090 | 26,220,877 |
1,294,837,138 | ||
Health Care Equipment & Services 5.2% | ||
Abbott Laboratories | 1,798,086 | 70,556,895 |
Aetna, Inc. | 433,675 | 46,555,011 |
AmerisourceBergen Corp. | 218,146 | 15,340,027 |
Anthem, Inc. | 325,729 | 39,693,336 |
Baxter International, Inc. | 600,789 | 28,591,548 |
Becton, Dickinson & Co. | 260,598 | 43,757,010 |
Boston Scientific Corp. * | 1,675,474 | 36,860,428 |
C.R. Bard, Inc. | 89,973 | 19,495,350 |
Cardinal Health, Inc. | 390,933 | 26,853,188 |
Centene Corp. * | 216,900 | 13,551,912 |
Cerner Corp. * | 361,900 | 21,200,102 |
Cigna Corp. | 309,608 | 36,790,719 |
Danaher Corp. | 743,474 | 58,399,883 |
DaVita, Inc. * | 204,000 | 11,958,480 |
DENTSPLY SIRONA, Inc. | 290,400 | 16,718,328 |
Edwards Lifesciences Corp. * | 260,400 | 24,795,288 |
Express Scripts Holding Co. * | 770,295 | 51,917,883 |
HCA Holdings, Inc. * | 358,400 | 27,428,352 |
Henry Schein, Inc. * | 97,100 | 14,487,320 |
Hologic, Inc. * | 337,700 | 12,160,577 |
Humana, Inc. | 182,303 | 31,270,434 |
Intuitive Surgical, Inc. * | 47,131 | 31,675,802 |
Laboratory Corp. of America Holdings * | 124,991 | 15,666,372 |
McKesson Corp. | 277,875 | 35,337,364 |
Medtronic plc | 1,691,176 | 138,710,256 |
Patterson Cos., Inc. | 104,447 | 4,460,931 |
Quest Diagnostics, Inc. | 171,680 | 13,981,619 |
St. Jude Medical, Inc. | 346,287 | 26,954,980 |
Stryker Corp. | 382,940 | 44,172,129 |
The Cooper Cos., Inc. | 60,000 | 10,562,400 |
UnitedHealth Group, Inc. | 1,165,510 | 164,721,528 |
Universal Health Services, Inc., Class B | 108,400 | 13,084,964 |
Varian Medical Systems, Inc. * | 110,706 | 10,044,355 |
Zimmer Biomet Holdings, Inc. | 244,523 | 25,772,724 |
1,183,527,495 | ||
Household & Personal Products 2.1% | ||
Church & Dwight Co., Inc. | 324,000 | 15,636,240 |
Colgate-Palmolive Co. | 1,095,394 | 78,167,316 |
Coty, Inc., Class A * | 580,000 | 13,334,200 |
Kimberly-Clark Corp. | 442,395 | 50,614,412 |
The Clorox Co. | 158,557 | 19,030,011 |
The Estee Lauder Cos., Inc., Class A | 265,052 | 23,093,981 |
The Procter & Gamble Co. | 3,271,290 | 283,947,972 |
483,824,132 | ||
Insurance 2.7% | ||
Aflac, Inc. | 507,873 | 34,977,214 |
American International Group, Inc. | 1,250,454 | 77,153,012 |
Aon plc | 323,350 | 35,836,881 |
Arthur J. Gallagher & Co. | 215,000 | 10,369,450 |
Assurant, Inc. | 74,246 | 5,978,288 |
Chubb Ltd. | 565,665 | 71,839,455 |
Cincinnati Financial Corp. | 192,903 | 13,653,674 |
Lincoln National Corp. | 294,671 | 14,465,399 |
Loews Corp. | 326,316 | 14,041,377 |
Marsh & McLennan Cos., Inc. | 625,279 | 39,636,436 |
MetLife, Inc. | 1,347,277 | 63,268,128 |
Principal Financial Group, Inc. | 316,567 | 17,284,558 |
Prudential Financial, Inc. | 541,531 | 45,916,414 |
Security | Number of Shares | Value ($) |
The Allstate Corp. | 451,610 | 30,664,319 |
The Hartford Financial Services Group, Inc. | 472,795 | 20,854,987 |
The Progressive Corp. | 723,820 | 22,807,568 |
The Travelers Cos., Inc. | 354,260 | 38,323,847 |
Torchmark Corp. | 143,266 | 9,084,497 |
Unum Group | 276,440 | 9,785,976 |
Willis Towers Watson plc | 156,325 | 19,681,318 |
XL Group Ltd. | 328,999 | 11,416,265 |
607,039,063 | ||
Materials 2.8% | ||
Air Products & Chemicals, Inc. | 267,401 | 35,676,641 |
Albemarle Corp. | 136,446 | 11,400,063 |
Avery Dennison Corp. | 103,076 | 7,193,674 |
Ball Corp. | 211,364 | 16,289,823 |
CF Industries Holdings, Inc. | 297,325 | 7,138,773 |
E.I. du Pont de Nemours & Co. | 1,074,404 | 73,908,251 |
Eastman Chemical Co. | 172,716 | 12,420,008 |
Ecolab, Inc. | 319,628 | 36,491,929 |
FMC Corp. | 158,300 | 7,422,687 |
Freeport-McMoRan, Inc. * | 1,517,540 | 16,966,097 |
International Flavors & Fragrances, Inc. | 98,043 | 12,822,064 |
International Paper Co. | 494,389 | 22,262,337 |
LyondellBasell Industries N.V., Class A | 412,500 | 32,814,375 |
Martin Marietta Materials, Inc. | 80,300 | 14,886,014 |
Monsanto Co. | 538,800 | 54,294,876 |
Newmont Mining Corp. | 638,546 | 23,651,744 |
Nucor Corp. | 400,800 | 19,579,080 |
Owens-Illinois, Inc. * | 198,600 | 3,832,980 |
PPG Industries, Inc. | 324,996 | 30,266,878 |
Praxair, Inc. | 345,779 | 40,476,890 |
Sealed Air Corp. | 236,068 | 10,771,783 |
The Dow Chemical Co. | 1,384,435 | 74,496,447 |
The Mosaic Co. | 434,300 | 10,219,079 |
The Sherwin-Williams Co. | 99,636 | 24,396,871 |
Vulcan Materials Co. | 162,371 | 18,380,397 |
WestRock Co. | 310,489 | 14,341,487 |
632,401,248 | ||
Media 2.9% | ||
CBS Corp., Class B - Non Voting Shares | 491,336 | 27,819,444 |
Charter Communications, Inc., Class A * | 266,200 | 66,520,718 |
Comcast Corp., Class A | 2,935,764 | 181,488,931 |
Discovery Communications, Inc., Class A * | 159,800 | 4,172,378 |
Discovery Communications, Inc., Class C * | 310,500 | 7,796,655 |
News Corp., Class A | 443,000 | 5,369,160 |
News Corp., Class B | 205,200 | 2,544,480 |
Omnicom Group, Inc. | 293,847 | 23,454,868 |
Scripps Networks Interactive, Inc., Class A | 116,593 | 7,503,925 |
TEGNA, Inc. | 270,314 | 5,303,561 |
The Interpublic Group of Cos., Inc. | 506,365 | 11,337,512 |
The Walt Disney Co. | 1,814,683 | 168,202,967 |
Time Warner, Inc. | 958,574 | 85,303,500 |
Twenty-First Century Fox, Inc., Class A | 1,347,801 | 35,406,732 |
Twenty-First Century Fox, Inc., Class B | 566,500 | 14,949,935 |
Viacom, Inc., Class B | 417,053 | 15,664,511 |
662,839,277 | ||
Pharmaceuticals, Biotechnology & Life Sciences 8.7% | ||
AbbVie, Inc. | 1,992,886 | 111,163,181 |
Agilent Technologies, Inc. | 406,066 | 17,692,296 |
Security | Number of Shares | Value ($) |
Alexion Pharmaceuticals, Inc. * | 275,500 | 35,952,750 |
Allergan plc * | 486,568 | 101,663,518 |
Amgen, Inc. | 914,859 | 129,141,497 |
Biogen, Inc. * | 267,891 | 75,057,700 |
Bristol-Myers Squibb Co. | 2,054,164 | 104,577,489 |
Celgene Corp. * | 953,526 | 97,431,287 |
Eli Lilly & Co. | 1,188,223 | 87,738,386 |
Endo International plc * | 256,900 | 4,816,875 |
Gilead Sciences, Inc. | 1,613,850 | 118,827,776 |
Illumina, Inc. * | 182,300 | 24,818,322 |
Johnson & Johnson | 3,349,625 | 388,523,004 |
Mallinckrodt plc * | 134,700 | 7,982,322 |
Merck & Co., Inc. | 3,388,114 | 198,950,054 |
Mettler-Toledo International, Inc. * | 32,500 | 13,132,600 |
Mylan N.V. * | 560,151 | 20,445,512 |
PerkinElmer, Inc. | 141,360 | 7,193,810 |
Perrigo Co., plc | 179,400 | 14,924,286 |
Pfizer, Inc. | 7,416,333 | 235,171,919 |
Regeneron Pharmaceuticals, Inc. * | 91,900 | 31,707,338 |
Thermo Fisher Scientific, Inc. | 482,737 | 70,976,821 |
Vertex Pharmaceuticals, Inc. * | 301,500 | 22,871,790 |
Waters Corp. * | 100,752 | 14,018,633 |
Zoetis, Inc. | 600,700 | 28,713,460 |
1,963,492,626 | ||
Real Estate 2.9% | ||
American Tower Corp. | 524,400 | 61,454,436 |
Apartment Investment & Management Co., Class A | 179,414 | 7,906,775 |
AvalonBay Communities, Inc. | 165,199 | 28,278,765 |
Boston Properties, Inc. | 184,776 | 22,261,813 |
CBRE Group, Inc., Class A * | 377,640 | 9,728,006 |
Crown Castle International Corp. | 415,100 | 37,769,949 |
Digital Realty Trust, Inc. | 180,000 | 16,817,400 |
Equinix, Inc. | 86,009 | 30,729,296 |
Equity Residential | 455,622 | 28,134,659 |
Essex Property Trust, Inc. | 79,400 | 16,998,746 |
Extra Space Storage, Inc. | 150,000 | 10,972,500 |
Federal Realty Investment Trust | 87,300 | 12,678,579 |
General Growth Properties, Inc. | 696,300 | 17,372,685 |
HCP, Inc. | 587,400 | 20,118,450 |
Host Hotels & Resorts, Inc. | 934,311 | 14,463,134 |
Iron Mountain, Inc. | 286,602 | 9,667,085 |
Kimco Realty Corp. | 513,259 | 13,657,822 |
Prologis, Inc. | 645,089 | 33,647,842 |
Public Storage | 183,778 | 39,277,034 |
Realty Income Corp. | 321,900 | 19,069,356 |
Simon Property Group, Inc. | 386,453 | 71,864,800 |
SL Green Realty Corp. | 118,300 | 11,619,426 |
The Macerich Co. | 152,100 | 10,765,638 |
UDR, Inc. | 315,000 | 11,015,550 |
Ventas, Inc. | 431,900 | 29,261,225 |
Vornado Realty Trust | 215,456 | 19,990,008 |
Welltower, Inc. | 432,400 | 29,632,372 |
Weyerhaeuser Co. | 920,623 | 27,554,246 |
662,707,597 | ||
Retailing 5.6% | ||
Advance Auto Parts, Inc. | 92,400 | 12,943,392 |
Amazon.com, Inc. * | 481,680 | 380,440,498 |
AutoNation, Inc. * | 91,733 | 4,024,327 |
AutoZone, Inc. * | 36,498 | 27,087,356 |
Bed Bath & Beyond, Inc. | 194,069 | 7,844,269 |
Best Buy Co., Inc. | 325,957 | 12,682,987 |
CarMax, Inc. * | 239,400 | 11,955,636 |
Dollar General Corp. | 314,700 | 21,742,623 |
Security | Number of Shares | Value ($) |
Dollar Tree, Inc. * | 288,330 | 21,783,331 |
Expedia, Inc. | 145,713 | 18,830,491 |
Foot Locker, Inc. | 165,000 | 11,017,050 |
Genuine Parts Co. | 178,638 | 16,182,816 |
Kohl's Corp. | 231,910 | 10,146,062 |
L Brands, Inc. | 287,635 | 20,764,371 |
LKQ Corp. * | 370,000 | 11,943,600 |
Lowe's Cos., Inc. | 1,069,988 | 71,314,700 |
Macy's, Inc. | 382,226 | 13,947,427 |
Netflix, Inc. * | 525,800 | 65,656,646 |
Nordstrom, Inc. | 139,796 | 7,269,392 |
O'Reilly Automotive, Inc. * | 116,800 | 30,886,592 |
Ross Stores, Inc. | 494,400 | 30,919,776 |
Signet Jewelers Ltd. (b) | 94,000 | 7,638,440 |
Staples, Inc. | 781,869 | 5,785,831 |
Target Corp. | 699,608 | 48,084,058 |
The Gap, Inc. | 277,162 | 7,646,900 |
The Home Depot, Inc. | 1,512,850 | 184,582,828 |
The Priceline Group, Inc. * | 60,915 | 89,802,720 |
The TJX Cos., Inc. | 803,306 | 59,243,817 |
Tiffany & Co. | 124,128 | 9,113,478 |
Tractor Supply Co. | 162,600 | 10,183,638 |
TripAdvisor, Inc. * | 147,713 | 9,524,534 |
Ulta Salon, Cosmetics & Fragrance, Inc. * | 70,200 | 17,082,468 |
Urban Outfitters, Inc. * | 111,100 | 3,716,295 |
1,261,788,349 | ||
Semiconductors & Semiconductor Equipment 3.3% | ||
Analog Devices, Inc. | 366,554 | 23,496,111 |
Applied Materials, Inc. | 1,325,472 | 38,544,726 |
Broadcom Ltd. | 484,220 | 82,452,981 |
First Solar, Inc. * | 94,900 | 3,842,501 |
Intel Corp. | 5,794,105 | 202,040,441 |
KLA-Tencor Corp. | 185,081 | 13,901,434 |
Lam Research Corp. | 195,074 | 18,894,868 |
Linear Technology Corp. | 301,968 | 18,136,198 |
Microchip Technology, Inc. | 264,123 | 15,992,648 |
Micron Technology, Inc. * | 1,241,275 | 21,300,279 |
NVIDIA Corp. | 656,082 | 46,686,795 |
Qorvo, Inc. * | 153,900 | 8,564,535 |
QUALCOMM, Inc. | 1,807,465 | 124,208,995 |
Skyworks Solutions, Inc. | 235,100 | 18,088,594 |
Texas Instruments, Inc. | 1,230,254 | 87,163,496 |
Xilinx, Inc. | 313,563 | 15,950,950 |
739,265,552 | ||
Software & Services 12.9% | ||
Accenture plc, Class A | 756,700 | 87,958,808 |
Activision Blizzard, Inc. | 835,200 | 36,055,584 |
Adobe Systems, Inc. * | 613,376 | 65,944,054 |
Akamai Technologies, Inc. * | 222,141 | 15,432,135 |
Alliance Data Systems Corp. * | 72,500 | 14,824,075 |
Alphabet, Inc., Class A * | 358,412 | 290,277,879 |
Alphabet, Inc., Class C * | 364,475 | 285,945,216 |
Autodesk, Inc. * | 239,981 | 17,345,827 |
Automatic Data Processing, Inc. | 555,473 | 48,359,479 |
CA, Inc. | 370,925 | 11,402,234 |
Citrix Systems, Inc. * | 193,308 | 16,392,518 |
Cognizant Technology Solutions Corp., Class A * | 748,596 | 38,440,405 |
CSRA, Inc. | 162,140 | 4,068,093 |
eBay, Inc. * | 1,297,169 | 36,982,288 |
Electronic Arts, Inc. * | 371,992 | 29,208,812 |
Facebook, Inc., Class A * | 2,844,000 | 372,535,560 |
Security | Number of Shares | Value ($) |
Fidelity National Information Services, Inc. | 403,634 | 29,836,625 |
Fiserv, Inc. * | 270,004 | 26,589,994 |
Global Payments, Inc. | 190,000 | 13,778,800 |
International Business Machines Corp. | 1,066,790 | 163,954,955 |
Intuit, Inc. | 296,609 | 32,253,263 |
MasterCard, Inc., Class A | 1,180,990 | 126,389,550 |
Microsoft Corp. | 9,535,931 | 571,392,986 |
Oracle Corp. | 3,688,586 | 141,715,474 |
Paychex, Inc. | 391,865 | 21,630,948 |
PayPal Holdings, Inc. * | 1,375,669 | 57,310,371 |
Red Hat, Inc. * | 224,800 | 17,410,760 |
salesforce.com, Inc. * | 780,065 | 58,629,685 |
Symantec Corp. | 748,150 | 18,726,195 |
Teradata Corp. * | 159,871 | 4,310,122 |
The Western Union Co. | 575,525 | 11,550,787 |
Total System Services, Inc. | 207,100 | 10,330,148 |
VeriSign, Inc. * | 112,125 | 9,420,742 |
Visa, Inc., Class A | 2,306,800 | 190,334,068 |
Xerox Corp. | 987,866 | 9,651,451 |
Yahoo! Inc. * | 1,074,755 | 44,656,070 |
2,931,045,961 | ||
Technology Hardware & Equipment 5.3% | ||
Amphenol Corp., Class A | 381,400 | 25,145,702 |
Apple, Inc. | 6,598,915 | 749,240,809 |
Cisco Systems, Inc. | 6,171,128 | 189,330,207 |
Corning, Inc. | 1,270,387 | 28,850,489 |
F5 Networks, Inc. * | 82,400 | 11,388,504 |
FLIR Systems, Inc. | 186,200 | 6,129,704 |
Harris Corp. | 157,600 | 14,059,496 |
Hewlett Packard Enterprise Co. | 2,050,008 | 46,063,680 |
HP, Inc. | 2,113,108 | 30,618,935 |
Juniper Networks, Inc. | 466,865 | 12,297,224 |
Motorola Solutions, Inc. | 203,922 | 14,800,658 |
NetApp, Inc. | 342,374 | 11,620,173 |
Seagate Technology plc | 351,900 | 12,073,689 |
TE Connectivity Ltd. | 432,300 | 27,178,701 |
Western Digital Corp. | 350,536 | 20,485,324 |
1,199,283,295 | ||
Telecommunication Services 2.5% | ||
AT&T, Inc. | 7,535,902 | 277,245,834 |
CenturyLink, Inc. | 686,643 | 18,250,971 |
Frontier Communications Corp. | 1,396,845 | 5,615,317 |
Level 3 Communications, Inc. * | 351,100 | 19,714,265 |
Verizon Communications, Inc. | 4,993,978 | 240,210,342 |
561,036,729 | ||
Transportation 2.1% | ||
Alaska Air Group, Inc. | 150,000 | 10,833,000 |
American Airlines Group, Inc. | 652,700 | 26,499,620 |
C.H. Robinson Worldwide, Inc. | 168,095 | 11,450,631 |
CSX Corp. | 1,148,591 | 35,043,511 |
Delta Air Lines, Inc. | 917,400 | 38,319,798 |
Expeditors International of Washington, Inc. | 216,900 | 11,163,843 |
FedEx Corp. | 301,468 | 52,551,902 |
JB Hunt Transport Services, Inc. | 108,100 | 8,822,041 |
Kansas City Southern | 129,400 | 11,356,144 |
Norfolk Southern Corp. | 357,892 | 33,283,956 |
Ryder System, Inc. | 60,702 | 4,212,112 |
Southwest Airlines Co. | 749,836 | 30,030,932 |
Union Pacific Corp. | 1,026,350 | 90,503,543 |
Security | Number of Shares | Value ($) |
United Continental Holdings, Inc. * | 361,800 | 20,344,014 |
United Parcel Service, Inc., Class B | 855,418 | 92,179,844 |
476,594,891 | ||
Utilities 3.4% | ||
AES Corp. | 781,249 | 9,195,301 |
Alliant Energy Corp. | 275,969 | 10,500,620 |
Ameren Corp. | 287,020 | 14,336,649 |
American Electric Power Co., Inc. | 610,502 | 39,584,950 |
American Water Works Co., Inc. | 231,000 | 17,103,240 |
CenterPoint Energy, Inc. | 514,366 | 11,727,545 |
CMS Energy Corp. | 343,584 | 14,482,066 |
Consolidated Edison, Inc. | 383,165 | 28,948,116 |
Dominion Resources, Inc. | 758,464 | 57,036,493 |
DTE Energy Co. | 216,012 | 20,739,312 |
Duke Energy Corp. | 848,399 | 67,888,888 |
Edison International | 405,793 | 29,817,670 |
Entergy Corp. | 224,253 | 16,522,961 |
Eversource Energy | 380,800 | 20,966,848 |
Exelon Corp. | 1,113,593 | 37,940,113 |
FirstEnergy Corp. | 518,494 | 17,779,159 |
NextEra Energy, Inc. | 574,138 | 73,489,664 |
NiSource, Inc. | 374,662 | 8,714,638 |
NRG Energy, Inc. | 378,600 | 4,024,518 |
PG&E Corp. | 617,406 | 38,353,261 |
Pinnacle West Capital Corp. | 140,061 | 10,662,844 |
PPL Corp. | 819,470 | 28,140,600 |
Public Service Enterprise Group, Inc. | 610,570 | 25,692,785 |
SCANA Corp. | 175,300 | 12,860,008 |
Sempra Energy | 308,569 | 33,047,740 |
The Southern Co. | 1,203,325 | 62,055,470 |
WEC Energy Group, Inc. | 387,178 | 23,122,270 |
Xcel Energy, Inc. | 617,686 | 25,664,853 |
760,398,582 | ||
Total Common Stock | ||
(Cost $12,998,840,544) | 22,513,476,544 | |
Other Investment Company 0.1% of net assets | ||
Securities Lending Collateral 0.1% | ||
Wells Fargo Government Money Market Fund, Select Class 0.32% (c) | 13,893,103 | 13,893,103 |
Total Other Investment Company | ||
(Cost $13,893,103) | 13,893,103 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 0.5% of net assets | ||
Time Deposits 0.5% | ||
BNP Paribas | ||
0.15%, 11/01/16 (d) | 5,161,735 | 5,161,735 |
Sumitomo Mitsui Banking Corp. | ||
0.15%, 11/01/16 (d) | 107,671,102 | 107,671,102 |
Total Short-Term Investments | ||
(Cost $112,832,837) | 112,832,837 |
At 10/31/16, the tax basis cost of the fund's investments was $13,154,263,315 and the unrealized appreciation and depreciation were $10,049,075,204 and ($563,136,035), respectively, with a net unrealized appreciation of $9,485,939,169.
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $13,706,721. |
(c) | The rate shown is the 7-day yield. |
(d) | The rate shown is the current daily overnight rate. |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
S&P 500 Index, e-mini, Long, expires 12/16/16 | 1,300 | 137,806,500 | (951,893) |
Holdings by Category | Cost ($) | Value ($) | |
99.5% | Common Stock | 1,927,957,536 | 6,404,137,765 |
0.6% | Other Investment Companies | 37,801,743 | 37,801,743 |
100.1% | Total Investments | 1,965,759,279 | 6,441,939,508 |
(0.1%) | Other Assets and Liabilities, Net | (9,481,996) | |
100.0% | Net Assets | 6,432,457,512 |
Security | Number of Shares | Value ($) |
Common Stock 99.5% of net assets | ||
Automobiles & Components 0.9% | ||
Adient plc * | 29,818 | 1,357,017 |
Autoliv, Inc. | 26,600 | 2,574,348 |
BorgWarner, Inc. | 69,096 | 2,476,401 |
Delphi Automotive plc | 87,400 | 5,687,118 |
Ford Motor Co. | 1,208,087 | 14,182,941 |
General Motors Co. | 438,200 | 13,847,120 |
Gentex Corp. | 97,544 | 1,649,469 |
Harley-Davidson, Inc. | 59,392 | 3,386,532 |
Lear Corp. | 23,600 | 2,897,608 |
Tesla Motors, Inc. *(b) | 35,208 | 6,961,678 |
The Goodyear Tire & Rubber Co. | 83,100 | 2,412,393 |
Thor Industries, Inc. | 14,500 | 1,149,995 |
Visteon Corp. | 12,000 | 847,320 |
59,429,940 | ||
Banks 5.6% | ||
Associated Banc-Corp. | 42,800 | 868,840 |
Bank of America Corp. | 3,073,841 | 50,718,377 |
Bank of the Ozarks, Inc. | 15,000 | 554,400 |
BB&T Corp. | 269,400 | 10,560,480 |
BOK Financial Corp. | 8,900 | 632,078 |
CIT Group, Inc. | 40,900 | 1,485,897 |
Citigroup, Inc. | 922,256 | 45,328,882 |
Citizens Financial Group, Inc. | 163,500 | 4,306,590 |
Comerica, Inc. | 51,128 | 2,663,258 |
Commerce Bancshares, Inc. | 27,982 | 1,394,063 |
Cullen/Frost Bankers, Inc. | 16,900 | 1,284,231 |
East West Bancorp, Inc. | 45,800 | 1,809,558 |
Fifth Third Bancorp | 241,084 | 5,245,988 |
First Citizens BancShares, Inc., Class A | 3,300 | 960,300 |
First Horizon National Corp. | 70,500 | 1,086,405 |
First Republic Bank | 44,600 | 3,319,578 |
Home BancShares, Inc. | 36,400 | 782,964 |
Huntington Bancshares, Inc. | 329,006 | 3,487,464 |
Investors Bancorp, Inc. | 108,730 | 1,333,030 |
JPMorgan Chase & Co. | 1,136,278 | 78,698,614 |
KeyCorp | 333,218 | 4,705,038 |
M&T Bank Corp. | 49,343 | 6,055,866 |
MGIC Investment Corp. * | 103,900 | 847,824 |
New York Community Bancorp, Inc. | 149,882 | 2,152,306 |
PacWest Bancorp | 19,300 | 837,427 |
People's United Financial, Inc. | 103,793 | 1,685,598 |
PrivateBancorp, Inc. | 23,900 | 1,081,236 |
Security | Number of Shares | Value ($) |
Prosperity Bancshares, Inc. | 23,100 | 1,281,357 |
Regions Financial Corp. | 390,106 | 4,178,035 |
Signature Bank * | 15,700 | 1,892,792 |
SunTrust Banks, Inc. | 155,993 | 7,055,563 |
SVB Financial Group * | 14,900 | 1,821,823 |
Synovus Financial Corp. | 44,657 | 1,476,807 |
TFS Financial Corp. | 27,300 | 486,486 |
The PNC Financial Services Group, Inc. | 157,034 | 15,012,450 |
U.S. Bancorp | 508,505 | 22,760,684 |
Umpqua Holdings Corp. | 32,000 | 488,960 |
Webster Financial Corp. | 27,500 | 1,111,000 |
Wells Fargo & Co. | 1,430,996 | 65,840,126 |
Western Alliance Bancorp * | 27,800 | 1,038,608 |
Zions Bancorp | 36,798 | 1,185,264 |
359,516,247 | ||
Capital Goods 7.3% | ||
3M Co. | 191,454 | 31,647,346 |
A.O. Smith Corp. | 50,800 | 2,294,636 |
Acuity Brands, Inc. | 14,300 | 3,197,051 |
AECOM * | 34,700 | 966,395 |
AGCO Corp. | 14,200 | 725,336 |
Air Lease Corp. | 19,700 | 596,122 |
Alcoa, Inc. | 105,840 | 3,039,725 |
Allegion plc | 28,700 | 1,832,208 |
Allison Transmission Holdings, Inc. | 13,700 | 401,273 |
AMETEK, Inc. | 75,105 | 3,312,131 |
B/E Aerospace, Inc. | 31,700 | 1,886,784 |
BWX Technologies, Inc. | 32,900 | 1,290,338 |
Carlisle Cos., Inc. | 20,736 | 2,174,170 |
Caterpillar, Inc. | 180,796 | 15,089,234 |
Crane Co. | 16,384 | 1,114,276 |
Cummins, Inc. | 49,892 | 6,377,195 |
Curtiss-Wright Corp. | 15,200 | 1,362,224 |
Deere & Co. | 95,946 | 8,472,032 |
Donaldson Co., Inc. | 32,900 | 1,201,508 |
Dover Corp. | 50,237 | 3,360,353 |
Eaton Corp. plc | 142,901 | 9,112,797 |
EMCOR Group, Inc. | 8,100 | 489,726 |
Emerson Electric Co. | 200,228 | 10,147,555 |
Fastenal Co. | 92,300 | 3,597,854 |
Flowserve Corp. | 43,023 | 1,822,024 |
Fluor Corp. | 40,958 | 2,129,406 |
Fortive Corp. | 92,520 | 4,723,146 |
Fortune Brands Home & Security, Inc. | 52,900 | 2,889,927 |
General Dynamics Corp. | 91,644 | 13,814,417 |
General Electric Co. | 2,799,902 | 81,477,148 |
Graco, Inc. | 15,694 | 1,175,481 |
HD Supply Holdings, Inc. * | 51,900 | 1,712,700 |
Hexcel Corp. | 26,300 | 1,196,387 |
Honeywell International, Inc. | 239,099 | 26,224,378 |
Hubbell, Inc. | 16,932 | 1,769,733 |
Huntington Ingalls Industries, Inc. | 13,700 | 2,210,632 |
IDEX Corp. | 28,906 | 2,498,635 |
Illinois Tool Works, Inc. | 100,404 | 11,402,882 |
Ingersoll-Rand plc | 82,400 | 5,544,696 |
ITT, Inc. | 30,300 | 1,067,166 |
Jacobs Engineering Group, Inc. * | 38,756 | 1,999,034 |
Security | Number of Shares | Value ($) |
Johnson Controls International plc | 298,186 | 12,022,860 |
L-3 Communications Holdings, Inc. | 23,374 | 3,200,836 |
Lennox International, Inc. | 11,700 | 1,706,913 |
Lincoln Electric Holdings, Inc. | 22,200 | 1,461,426 |
Lockheed Martin Corp. | 83,564 | 20,588,498 |
Masco Corp. | 108,836 | 3,360,856 |
MSC Industrial Direct Co., Inc., Class A | 15,558 | 1,132,622 |
Nordson Corp. | 18,000 | 1,802,340 |
Northrop Grumman Corp. | 56,332 | 12,900,028 |
Orbital ATK, Inc. | 10,200 | 758,472 |
Oshkosh Corp. | 23,600 | 1,262,600 |
Owens Corning | 36,900 | 1,799,982 |
PACCAR, Inc. | 107,289 | 5,892,312 |
Parker-Hannifin Corp. | 41,253 | 5,063,806 |
Pentair plc | 57,895 | 3,191,751 |
Quanta Services, Inc. * | 18,900 | 543,375 |
Raytheon Co. | 93,590 | 12,785,330 |
Rockwell Automation, Inc. | 39,549 | 4,734,806 |
Rockwell Collins, Inc. | 40,653 | 3,427,861 |
Roper Technologies, Inc. | 30,891 | 5,353,719 |
Sensata Technologies Holding N.V. * | 30,100 | 1,075,473 |
Snap-on, Inc. | 17,250 | 2,658,225 |
Spirit AeroSystems Holdings, Inc., Class A * | 37,400 | 1,883,464 |
Stanley Black & Decker, Inc. | 46,641 | 5,309,611 |
Teledyne Technologies, Inc. * | 12,600 | 1,356,768 |
Textron, Inc. | 88,938 | 3,564,635 |
The Boeing Co. | 185,989 | 26,490,413 |
The Middleby Corp. * | 18,300 | 2,051,613 |
The Toro Co. | 30,400 | 1,455,552 |
TransDigm Group, Inc. | 16,600 | 4,522,836 |
Trinity Industries, Inc. | 44,200 | 943,670 |
United Rentals, Inc. * | 31,467 | 2,380,793 |
United Technologies Corp. | 244,203 | 24,957,547 |
USG Corp. * | 13,000 | 327,340 |
W.W. Grainger, Inc. | 17,876 | 3,720,353 |
WABCO Holdings, Inc. * | 18,000 | 1,772,280 |
Wabtec Corp. | 28,800 | 2,226,528 |
Watsco, Inc. | 7,000 | 961,030 |
Woodward, Inc. | 17,300 | 1,020,354 |
Xylem, Inc. | 53,400 | 2,580,822 |
471,595,761 | ||
Commercial & Professional Supplies 0.7% | ||
Cintas Corp. | 25,710 | 2,742,486 |
Copart, Inc. * | 36,074 | 1,892,803 |
Deluxe Corp. | 14,500 | 887,400 |
Equifax, Inc. | 37,300 | 4,624,081 |
IHS Markit Ltd. * | 71,132 | 2,616,946 |
KAR Auction Services, Inc. | 44,400 | 1,890,552 |
ManpowerGroup, Inc. | 21,591 | 1,658,189 |
Nielsen Holdings plc | 110,500 | 4,974,710 |
Pitney Bowes, Inc. | 52,441 | 935,547 |
Republic Services, Inc. | 81,581 | 4,293,608 |
Robert Half International, Inc. | 43,891 | 1,642,401 |
Rollins, Inc. | 32,850 | 1,012,437 |
RR Donnelley & Sons Co. | 19,466 | 345,522 |
Stericycle, Inc. * | 27,098 | 2,170,279 |
The Dun & Bradstreet Corp. | 10,925 | 1,363,986 |
TransUnion * | 12,100 | 378,004 |
Verisk Analytics, Inc. * | 47,800 | 3,898,090 |
Waste Management, Inc. | 131,077 | 8,606,516 |
45,933,557 | ||
Security | Number of Shares | Value ($) |
Consumer Durables & Apparel 1.4% | ||
Brunswick Corp. | 29,300 | 1,274,550 |
CalAtlantic Group, Inc. | 22,300 | 720,736 |
Carter's, Inc. | 17,300 | 1,493,682 |
Coach, Inc. | 89,730 | 3,220,410 |
Columbia Sportswear Co. | 8,900 | 504,096 |
D.R. Horton, Inc. | 107,597 | 3,102,022 |
Garmin Ltd. | 39,886 | 1,928,887 |
Hanesbrands, Inc. | 121,600 | 3,125,120 |
Harman International Industries, Inc. | 23,697 | 1,888,888 |
Hasbro, Inc. | 34,225 | 2,854,707 |
Leggett & Platt, Inc. | 39,744 | 1,823,455 |
Lennar Corp., Class A | 60,775 | 2,533,710 |
lululemon athletica, Inc. * | 34,500 | 1,975,125 |
Mattel, Inc. | 102,797 | 3,241,189 |
Michael Kors Holdings Ltd. * | 33,300 | 1,690,974 |
Mohawk Industries, Inc. * | 19,439 | 3,582,608 |
Newell Brands, Inc. | 143,713 | 6,901,098 |
NIKE, Inc., Class B | 423,612 | 21,256,850 |
NVR, Inc. * | 1,098 | 1,672,254 |
Polaris Industries, Inc. (b) | 19,200 | 1,470,912 |
PulteGroup, Inc. | 98,799 | 1,837,661 |
PVH Corp. | 25,514 | 2,729,488 |
Ralph Lauren Corp. | 18,395 | 1,804,549 |
Tempur Sealy International, Inc. * | 18,900 | 1,021,923 |
Toll Brothers, Inc. * | 50,000 | 1,372,000 |
Tupperware Brands Corp. | 14,700 | 874,944 |
Under Armour, Inc., Class A *(b) | 56,200 | 1,747,820 |
Under Armour, Inc., Class C * | 56,598 | 1,463,624 |
VF Corp. | 103,828 | 5,628,516 |
Whirlpool Corp. | 24,515 | 3,672,837 |
88,414,635 | ||
Consumer Services 2.0% | ||
Aramark | 65,800 | 2,449,734 |
Bright Horizons Family Solutions, Inc. * | 12,900 | 863,139 |
Brinker International, Inc. | 17,700 | 871,548 |
Buffalo Wild Wings, Inc. * | 2,500 | 364,125 |
Carnival Corp. | 125,760 | 6,174,816 |
Chipotle Mexican Grill, Inc. * | 9,550 | 3,445,258 |
Cracker Barrel Old Country Store, Inc. (b) | 8,100 | 1,117,800 |
Darden Restaurants, Inc. | 34,165 | 2,213,550 |
Domino's Pizza, Inc. | 16,000 | 2,707,840 |
Dunkin' Brands Group, Inc. | 28,000 | 1,354,080 |
H&R Block, Inc. | 75,198 | 1,727,298 |
Hilton Worldwide Holdings, Inc. | 124,800 | 2,820,480 |
Jack in the Box, Inc. | 12,400 | 1,162,252 |
Las Vegas Sands Corp. | 117,163 | 6,781,394 |
Marriott International, Inc., Class A | 103,508 | 7,111,000 |
McDonald's Corp. | 269,336 | 30,319,154 |
MGM Resorts International * | 147,287 | 3,854,501 |
Norwegian Cruise Line Holdings Ltd. * | 18,900 | 734,643 |
Panera Bread Co., Class A * | 7,000 | 1,335,320 |
Royal Caribbean Cruises Ltd. | 52,391 | 4,027,296 |
Service Corp. International | 63,100 | 1,615,360 |
ServiceMaster Global Holdings, Inc. * | 41,700 | 1,492,443 |
Six Flags Entertainment Corp. | 24,400 | 1,357,860 |
Starbucks Corp. | 463,354 | 24,590,197 |
Texas Roadhouse, Inc. | 19,700 | 798,244 |
The Wendy's Co. | 60,900 | 660,156 |
Vail Resorts, Inc. | 11,800 | 1,881,392 |
Wyndham Worldwide Corp. | 34,917 | 2,298,935 |
Wynn Resorts Ltd. | 24,842 | 2,348,811 |
Yum! Brands, Inc. | 131,576 | 11,352,377 |
129,831,003 | ||
Security | Number of Shares | Value ($) |
Diversified Financials 4.8% | ||
Affiliated Managers Group, Inc. * | 17,859 | 2,369,175 |
AGNC Investment Corp. | 58,300 | 1,169,498 |
Ally Financial, Inc. | 138,400 | 2,500,888 |
American Express Co. | 255,877 | 16,995,350 |
Ameriprise Financial, Inc. | 53,057 | 4,689,708 |
Annaly Capital Management, Inc. | 304,600 | 3,155,656 |
Berkshire Hathaway, Inc., Class B * | 587,712 | 84,806,842 |
BlackRock, Inc. | 39,665 | 13,535,285 |
Capital One Financial Corp. | 164,453 | 12,176,100 |
CBOE Holdings, Inc. | 25,400 | 1,605,534 |
CME Group, Inc. | 105,380 | 10,548,538 |
Credit Acceptance Corp. *(b) | 3,200 | 589,120 |
Discover Financial Services | 134,724 | 7,589,003 |
E*TRADE Financial Corp. * | 86,290 | 2,429,926 |
Eaton Vance Corp. | 39,084 | 1,370,285 |
FactSet Research Systems, Inc. | 12,900 | 1,995,888 |
Franklin Resources, Inc. | 114,858 | 3,866,120 |
Intercontinental Exchange, Inc. | 36,710 | 9,926,017 |
Invesco Ltd. | 135,190 | 3,797,487 |
Lazard Ltd., Class A | 10,900 | 397,414 |
Legg Mason, Inc. | 31,214 | 896,466 |
Leucadia National Corp. | 101,178 | 1,888,993 |
MarketAxess Holdings, Inc. | 11,500 | 1,733,740 |
Moody's Corp. | 53,326 | 5,360,330 |
Morgan Stanley | 478,548 | 16,064,856 |
Morningstar, Inc. | 5,400 | 381,402 |
MSCI, Inc. | 29,450 | 2,361,596 |
Nasdaq, Inc. | 36,337 | 2,324,478 |
Navient Corp. | 70,000 | 894,600 |
Northern Trust Corp. | 65,976 | 4,777,982 |
Raymond James Financial, Inc. | 39,649 | 2,383,698 |
S&P Global, Inc. | 84,736 | 10,325,082 |
SEI Investments Co. | 42,148 | 1,868,421 |
Starwood Property Trust, Inc. | 77,200 | 1,716,928 |
State Street Corp. | 124,450 | 8,737,634 |
Synchrony Financial | 257,300 | 7,356,207 |
T. Rowe Price Group, Inc. | 76,550 | 4,899,965 |
TD Ameritrade Holding Corp. | 87,231 | 2,984,173 |
The Bank of New York Mellon Corp. | 335,996 | 14,538,547 |
The Charles Schwab Corp. (a) | 375,265 | 11,895,900 |
The Goldman Sachs Group, Inc. | 123,132 | 21,947,048 |
Two Harbors Investment Corp. | 117,200 | 976,276 |
Voya Financial, Inc. | 44,800 | 1,368,640 |
313,196,796 | ||
Energy 6.6% | ||
Anadarko Petroleum Corp. | 159,148 | 9,459,757 |
Antero Resources Corp. * | 27,000 | 714,690 |
Apache Corp. | 118,700 | 7,060,276 |
Baker Hughes, Inc. | 135,606 | 7,512,573 |
Cabot Oil & Gas Corp. | 145,596 | 3,040,045 |
Cheniere Energy, Inc. * | 74,900 | 2,823,730 |
Chevron Corp. | 588,537 | 61,649,251 |
Cimarex Energy Co. | 29,115 | 3,759,620 |
Concho Resources, Inc. * | 41,200 | 5,229,928 |
ConocoPhillips | 385,266 | 16,739,808 |
Continental Resources, Inc. * | 25,800 | 1,261,878 |
Core Laboratories N.V. | 13,300 | 1,289,701 |
Devon Energy Corp. | 162,382 | 6,152,654 |
Diamondback Energy, Inc. * | 21,800 | 1,990,122 |
EOG Resources, Inc. | 173,204 | 15,661,106 |
EQT Corp. | 51,600 | 3,405,600 |
Exxon Mobil Corp. | 1,301,963 | 108,479,557 |
FMC Technologies, Inc. * | 72,568 | 2,341,769 |
Halliburton Co. | 280,788 | 12,916,248 |
Security | Number of Shares | Value ($) |
Helmerich & Payne, Inc. | 31,392 | 1,981,149 |
Hess Corp. | 84,123 | 4,035,380 |
HollyFrontier Corp. | 18,600 | 464,070 |
Kinder Morgan, Inc. | 496,917 | 10,152,014 |
Marathon Oil Corp. | 267,696 | 3,528,233 |
Marathon Petroleum Corp. | 164,600 | 7,174,914 |
Murphy Oil Corp. | 49,944 | 1,292,051 |
National Oilwell Varco, Inc. | 119,426 | 3,833,575 |
Newfield Exploration Co. * | 63,666 | 2,584,203 |
Noble Energy, Inc. | 134,622 | 4,640,420 |
Occidental Petroleum Corp. | 244,916 | 17,856,826 |
Oceaneering International, Inc. | 28,900 | 687,820 |
ONEOK, Inc. | 66,824 | 3,236,286 |
Phillips 66 | 146,400 | 11,880,360 |
Pioneer Natural Resources Co. | 55,711 | 9,973,383 |
Range Resources Corp. | 53,928 | 1,822,227 |
Schlumberger Ltd. | 431,405 | 33,748,813 |
Southwestern Energy Co. * | 121,188 | 1,259,143 |
Spectra Energy Corp. | 209,421 | 8,755,892 |
Tesoro Corp. | 36,712 | 3,119,419 |
The Williams Cos., Inc. | 214,321 | 6,258,173 |
Transocean Ltd. * | 113,300 | 1,088,813 |
Valero Energy Corp. | 149,520 | 8,857,565 |
Weatherford International plc * | 204,200 | 984,244 |
Western Refining, Inc. | 45,000 | 1,298,250 |
World Fuel Services Corp. | 24,500 | 986,125 |
422,987,661 | ||
Food & Staples Retailing 2.0% | ||
Casey's General Stores, Inc. | 12,200 | 1,378,478 |
Costco Wholesale Corp. | 133,759 | 19,778,943 |
CVS Health Corp. | 342,511 | 28,805,175 |
Rite Aid Corp. * | 319,300 | 2,142,503 |
Sysco Corp. | 164,130 | 7,897,936 |
The Kroger Co. | 307,226 | 9,517,862 |
Wal-Mart Stores, Inc. | 491,627 | 34,423,723 |
Walgreens Boots Alliance, Inc. | 268,969 | 22,251,805 |
Whole Foods Market, Inc. | 101,332 | 2,866,682 |
129,063,107 | ||
Food, Beverage & Tobacco 5.4% | ||
Altria Group, Inc. | 611,705 | 40,445,935 |
Archer-Daniels-Midland Co. | 190,705 | 8,309,017 |
Blue Buffalo Pet Products, Inc. * | 6,900 | 173,328 |
Brown-Forman Corp., Class A | 17,800 | 863,300 |
Brown-Forman Corp., Class B | 64,360 | 2,971,501 |
Bunge Ltd. | 45,892 | 2,845,763 |
Campbell Soup Co. | 53,858 | 2,926,644 |
ConAgra Foods, Inc. | 136,097 | 6,557,154 |
Constellation Brands, Inc., Class A | 54,132 | 9,046,540 |
Dr Pepper Snapple Group, Inc. | 57,920 | 5,084,797 |
Flowers Foods, Inc. | 56,925 | 883,476 |
General Mills, Inc. | 183,700 | 11,385,726 |
Hormel Foods Corp. | 81,188 | 3,125,738 |
Ingredion, Inc. | 21,800 | 2,859,506 |
Kellogg Co. | 79,931 | 6,005,216 |
Lancaster Colony Corp. | 5,700 | 744,705 |
McCormick & Co., Inc. - Non Voting Shares | 35,254 | 3,379,801 |
Mead Johnson Nutrition Co. | 58,800 | 4,396,476 |
Molson Coors Brewing Co., Class B | 58,272 | 6,049,216 |
Mondelez International, Inc., Class A | 487,564 | 21,911,126 |
Monster Beverage Corp. * | 45,900 | 6,625,206 |
PepsiCo, Inc. | 452,385 | 48,495,672 |
Philip Morris International, Inc. | 484,865 | 46,760,381 |
Pilgrim's Pride Corp. | 15,000 | 327,600 |
Security | Number of Shares | Value ($) |
Pinnacle Foods, Inc. | 29,600 | 1,522,032 |
Post Holdings, Inc. * | 19,200 | 1,463,616 |
Reynolds American, Inc. | 263,592 | 14,518,647 |
Seaboard Corp. * | 105 | 355,425 |
Snyder's-Lance, Inc. | 28,800 | 1,024,416 |
The Coca-Cola Co. | 1,208,348 | 51,233,955 |
The Hain Celestial Group, Inc. * | 29,400 | 1,069,278 |
The Hershey Co. | 45,564 | 4,668,487 |
The JM Smucker Co. | 36,901 | 4,845,470 |
The Kraft Heinz Co. | 187,600 | 16,687,020 |
The WhiteWave Foods Co. * | 55,779 | 3,039,398 |
TreeHouse Foods, Inc. * | 17,300 | 1,513,404 |
Tyson Foods, Inc., Class A | 89,659 | 6,352,340 |
350,467,312 | ||
Health Care Equipment & Services 5.2% | ||
Abbott Laboratories | 461,046 | 18,091,445 |
ABIOMED, Inc. * | 12,100 | 1,270,379 |
Aetna, Inc. | 110,234 | 11,833,620 |
Alere, Inc. * | 24,700 | 1,103,596 |
Align Technology, Inc. * | 23,400 | 2,010,528 |
Allscripts Healthcare Solutions, Inc. * | 58,200 | 698,982 |
AmerisourceBergen Corp. | 61,220 | 4,304,990 |
Amsurg Corp. * | 16,900 | 1,009,775 |
Anthem, Inc. | 81,423 | 9,922,207 |
athenahealth, Inc. * | 12,000 | 1,239,840 |
Baxter International, Inc. | 170,825 | 8,129,562 |
Becton, Dickinson & Co. | 66,707 | 11,200,772 |
Boston Scientific Corp. * | 429,507 | 9,449,154 |
Brookdale Senior Living, Inc. * | 55,000 | 793,650 |
C.R. Bard, Inc. | 23,600 | 5,113,648 |
Cardinal Health, Inc. | 104,710 | 7,192,530 |
Centene Corp. * | 54,276 | 3,391,165 |
Cerner Corp. * | 94,504 | 5,536,044 |
Cigna Corp. | 78,854 | 9,370,221 |
Danaher Corp. | 185,040 | 14,534,892 |
DaVita, Inc. * | 53,450 | 3,133,239 |
DENTSPLY SIRONA, Inc. | 76,190 | 4,386,258 |
DexCom, Inc. * | 25,900 | 2,026,416 |
Edwards Lifesciences Corp. * | 65,384 | 6,225,865 |
Express Scripts Holding Co. * | 207,389 | 13,978,019 |
HCA Holdings, Inc. * | 95,600 | 7,316,268 |
HealthSouth Corp. | 12,400 | 497,860 |
Henry Schein, Inc. * | 25,919 | 3,867,115 |
Hill-Rom Holdings, Inc. | 17,300 | 958,593 |
Hologic, Inc. * | 76,970 | 2,771,690 |
Humana, Inc. | 46,391 | 7,957,448 |
IDEXX Laboratories, Inc. * | 29,996 | 3,213,771 |
Intuitive Surgical, Inc. * | 11,841 | 7,958,099 |
Laboratory Corp. of America Holdings * | 30,368 | 3,806,325 |
LivaNova plc * | 12,000 | 680,160 |
McKesson Corp. | 70,347 | 8,946,028 |
MEDNAX, Inc. * | 28,208 | 1,727,740 |
Medtronic plc | 438,922 | 36,000,382 |
Molina Healthcare, Inc. * | 12,900 | 701,889 |
Patterson Cos., Inc. | 22,600 | 965,246 |
Quest Diagnostics, Inc. | 42,747 | 3,481,316 |
ResMed, Inc. | 43,716 | 2,612,905 |
St. Jude Medical, Inc. | 87,455 | 6,807,497 |
STERIS plc | 28,000 | 1,870,960 |
Stryker Corp. | 97,854 | 11,287,459 |
Teleflex, Inc. | 13,846 | 1,981,778 |
The Cooper Cos., Inc. | 14,400 | 2,534,976 |
UnitedHealth Group, Inc. | 297,792 | 42,086,943 |
Universal Health Services, Inc., Class B | 27,874 | 3,364,671 |
Varian Medical Systems, Inc. * | 31,371 | 2,846,291 |
VCA, Inc. * | 26,300 | 1,616,398 |
Security | Number of Shares | Value ($) |
WellCare Health Plans, Inc. * | 14,100 | 1,600,491 |
West Pharmaceutical Services, Inc. | 22,500 | 1,710,675 |
Zimmer Biomet Holdings, Inc. | 57,012 | 6,009,065 |
333,126,836 | ||
Household & Personal Products 1.9% | ||
Church & Dwight Co., Inc. | 80,788 | 3,898,829 |
Colgate-Palmolive Co. | 278,654 | 19,884,749 |
Edgewell Personal Care Co. * | 19,900 | 1,500,460 |
Herbalife Ltd. * | 20,100 | 1,219,668 |
Kimberly-Clark Corp. | 113,204 | 12,951,670 |
Spectrum Brands Holdings, Inc. | 8,200 | 1,108,968 |
The Clorox Co. | 39,425 | 4,731,788 |
The Estee Lauder Cos., Inc., Class A | 68,068 | 5,930,765 |
The Procter & Gamble Co. | 841,119 | 73,009,129 |
124,236,026 | ||
Insurance 3.0% | ||
Aflac, Inc. | 133,713 | 9,208,814 |
Alleghany Corp. * | 5,186 | 2,677,065 |
Allied World Assurance Co. Holdings AG | 24,700 | 1,061,606 |
American Financial Group, Inc. | 21,805 | 1,624,473 |
American International Group, Inc. | 329,276 | 20,316,329 |
American National Insurance Co. | 3,100 | 363,196 |
AmTrust Financial Services, Inc. | 17,000 | 448,630 |
Aon plc | 85,303 | 9,454,132 |
Arch Capital Group Ltd. * | 37,000 | 2,884,890 |
Arthur J. Gallagher & Co. | 61,120 | 2,947,818 |
Aspen Insurance Holdings Ltd. | 9,000 | 434,250 |
Assurant, Inc. | 19,192 | 1,545,340 |
Assured Guaranty Ltd. | 41,600 | 1,243,424 |
Axis Capital Holdings Ltd. | 27,862 | 1,587,298 |
Brown & Brown, Inc. | 39,476 | 1,455,085 |
Chubb Ltd. | 142,702 | 18,123,154 |
Cincinnati Financial Corp. | 48,417 | 3,426,955 |
CNA Financial Corp. | 9,150 | 334,616 |
Endurance Specialty Holdings Ltd. | 18,100 | 1,664,295 |
Erie Indemnity Co., Class A | 8,285 | 848,301 |
Everest Re Group Ltd. | 12,720 | 2,588,774 |
First American Financial Corp. | 31,600 | 1,234,296 |
FNF Group | 88,169 | 3,166,149 |
Lincoln National Corp. | 78,159 | 3,836,825 |
Loews Corp. | 82,358 | 3,543,865 |
Markel Corp. * | 4,447 | 3,901,931 |
Marsh & McLennan Cos., Inc. | 161,020 | 10,207,058 |
MetLife, Inc. | 339,644 | 15,949,682 |
Old Republic International Corp. | 70,509 | 1,188,782 |
Principal Financial Group, Inc. | 88,009 | 4,805,291 |
ProAssurance Corp. | 15,100 | 804,830 |
Prudential Financial, Inc. | 137,597 | 11,666,850 |
Reinsurance Group of America, Inc. | 19,510 | 2,104,349 |
RenaissanceRe Holdings Ltd. | 13,907 | 1,728,501 |
RLI Corp. | 11,300 | 629,862 |
The Allstate Corp. | 119,698 | 8,127,494 |
The Hartford Financial Services Group, Inc. | 124,095 | 5,473,830 |
The Progressive Corp. | 181,542 | 5,720,388 |
The Travelers Cos., Inc. | 94,147 | 10,184,822 |
Torchmark Corp. | 33,597 | 2,130,386 |
Unum Group | 78,214 | 2,768,776 |
Validus Holdings Ltd. | 25,509 | 1,303,510 |
W. R. Berkley Corp. | 32,225 | 1,840,048 |
White Mountains Insurance Group Ltd. | 1,813 | 1,504,282 |
Security | Number of Shares | Value ($) |
Willis Towers Watson plc | 42,266 | 5,321,289 |
XL Group Ltd. | 93,067 | 3,229,425 |
196,610,966 | ||
Materials 3.0% | ||
Air Products & Chemicals, Inc. | 61,778 | 8,242,421 |
Albemarle Corp. | 46,839 | 3,913,399 |
AptarGroup, Inc. | 18,200 | 1,300,208 |
Ashland Global Holdings, Inc. | 20,300 | 2,268,119 |
Avery Dennison Corp. | 26,560 | 1,853,622 |
Axalta Coating Systems Ltd. * | 16,600 | 416,992 |
Ball Corp. | 48,876 | 3,766,873 |
Bemis Co., Inc. | 28,149 | 1,371,419 |
Berry Plastics Group, Inc. * | 36,100 | 1,579,375 |
Celanese Corp., Series A | 44,643 | 3,255,368 |
CF Industries Holdings, Inc. | 74,560 | 1,790,186 |
Crown Holdings, Inc. * | 47,376 | 2,570,148 |
E.I. du Pont de Nemours & Co. | 273,217 | 18,794,597 |
Eastman Chemical Co. | 45,762 | 3,290,745 |
Ecolab, Inc. | 83,128 | 9,490,724 |
FMC Corp. | 43,504 | 2,039,903 |
Freeport-McMoRan, Inc. * | 354,957 | 3,968,419 |
Graphic Packaging Holding Co. | 104,500 | 1,306,250 |
International Flavors & Fragrances, Inc. | 24,408 | 3,192,078 |
International Paper Co. | 126,807 | 5,710,119 |
LyondellBasell Industries N.V., Class A | 111,800 | 8,893,690 |
Martin Marietta Materials, Inc. | 21,449 | 3,976,216 |
Monsanto Co. | 136,534 | 13,758,531 |
NewMarket Corp. | 2,800 | 1,122,548 |
Newmont Mining Corp. | 162,928 | 6,034,853 |
Nucor Corp. | 99,976 | 4,883,828 |
Packaging Corp. of America | 29,030 | 2,394,975 |
PPG Industries, Inc. | 81,712 | 7,609,839 |
Praxair, Inc. | 89,328 | 10,456,736 |
Reliance Steel & Aluminum Co. | 19,922 | 1,370,235 |
RPM International, Inc. | 44,600 | 2,120,284 |
Sealed Air Corp. | 58,102 | 2,651,194 |
Sensient Technologies Corp. | 13,500 | 1,005,885 |
Sonoco Products Co. | 33,970 | 1,708,351 |
Steel Dynamics, Inc. | 74,400 | 2,043,024 |
The Dow Chemical Co. | 350,256 | 18,847,275 |
The Mosaic Co. | 106,995 | 2,517,592 |
The Scotts Miracle-Gro Co., Class A | 14,668 | 1,292,104 |
The Sherwin-Williams Co. | 23,890 | 5,849,705 |
The Valspar Corp. | 24,346 | 2,424,862 |
Vulcan Materials Co. | 40,825 | 4,621,390 |
W.R. Grace & Co. | 21,500 | 1,439,640 |
Westlake Chemical Corp. | 14,000 | 725,060 |
WestRock Co. | 77,542 | 3,581,665 |
191,450,447 | ||
Media 3.1% | ||
AMC Networks, Inc., Class A * | 19,500 | 954,135 |
CBS Corp., Class B - Non Voting Shares | 129,005 | 7,304,263 |
Charter Communications, Inc., Class A * | 64,520 | 16,122,903 |
Cinemark Holdings, Inc. | 34,600 | 1,377,080 |
Comcast Corp., Class A | 760,023 | 46,984,622 |
Discovery Communications, Inc., Class A * | 47,200 | 1,232,392 |
Discovery Communications, Inc., Class C * | 74,700 | 1,875,717 |
DISH Network Corp., Class A * | 67,372 | 3,945,304 |
Liberty Broadband Corp., Class C * | 20,700 | 1,379,655 |
Liberty Global plc LiLAC., Class A * | 9,886 | 273,249 |
Liberty Global plc LiLAC., Class C * | 27,370 | 756,507 |
Liberty Global plc, Class A * | 79,241 | 2,583,257 |
Liberty Global plc, Series C * | 219,372 | 6,976,030 |
Security | Number of Shares | Value ($) |
Liberty Media Corp. - Liberty Braves, Class A * | 3,044 | 51,596 |
Liberty Media Corp. - Liberty Media, Class A * | 7,611 | 211,814 |
Liberty Media Corp. - Liberty SiriusXM, Class A * | 30,446 | 1,012,938 |
Liberty Media Corp. - Liberty SiriusXM, Class C * | 62,700 | 2,081,013 |
Live Nation Entertainment, Inc. * | 45,500 | 1,258,985 |
News Corp., Class A | 118,782 | 1,439,638 |
News Corp., Class B | 31,600 | 391,840 |
Omnicom Group, Inc. | 73,888 | 5,897,740 |
Scripps Networks Interactive, Inc., Class A | 30,900 | 1,988,724 |
Sirius XM Holdings, Inc. | 688,800 | 2,872,296 |
Starz, Class A * | 25,100 | 789,646 |
TEGNA, Inc. | 73,854 | 1,449,015 |
The Interpublic Group of Cos., Inc. | 127,164 | 2,847,202 |
The Madison Square Garden Co., Class A * | 6,933 | 1,147,342 |
The Walt Disney Co. | 470,260 | 43,588,399 |
Time Warner, Inc. | 249,680 | 22,219,023 |
Tribune Media Co., Class A | 23,200 | 756,320 |
Twenty-First Century Fox, Inc., Class A | 353,928 | 9,297,689 |
Twenty-First Century Fox, Inc., Class B | 109,000 | 2,876,510 |
Viacom, Inc., Class B | 106,546 | 4,001,868 |
197,944,712 | ||
Pharmaceuticals, Biotechnology & Life Sciences 8.3% | ||
AbbVie, Inc. | 505,126 | 28,175,928 |
ACADIA Pharmaceuticals, Inc. * | 24,700 | 575,757 |
Agilent Technologies, Inc. | 99,131 | 4,319,138 |
Akorn, Inc. * | 14,000 | 335,300 |
Alexion Pharmaceuticals, Inc. * | 70,304 | 9,174,672 |
Alkermes plc * | 44,700 | 2,253,327 |
Allergan plc * | 123,377 | 25,778,391 |
Alnylam Pharmaceuticals, Inc. * | 12,100 | 430,760 |
Amgen, Inc. | 235,202 | 33,201,114 |
Bio-Rad Laboratories, Inc., Class A * | 6,900 | 1,090,752 |
Bio-Techne Corp. | 12,563 | 1,306,426 |
Biogen, Inc. * | 68,855 | 19,291,794 |
BioMarin Pharmaceutical, Inc. * | 49,600 | 3,993,792 |
Bristol-Myers Squibb Co. | 521,839 | 26,566,824 |
Bruker Corp. | 33,900 | 694,611 |
Catalent, Inc. * | 29,900 | 682,019 |
Celgene Corp. * | 245,440 | 25,079,059 |
Charles River Laboratories International, Inc. * | 14,400 | 1,092,672 |
Eli Lilly & Co. | 305,871 | 22,585,515 |
Endo International plc * | 40,000 | 750,000 |
Gilead Sciences, Inc. | 426,544 | 31,406,435 |
Horizon Pharma plc * | 44,800 | 749,056 |
Illumina, Inc. * | 45,900 | 6,248,826 |
Incyte Corp. * | 51,800 | 4,505,046 |
Intercept Pharmaceuticals, Inc. *(b) | 6,000 | 742,440 |
Ionis Pharmaceuticals, Inc. * | 15,000 | 389,700 |
Jazz Pharmaceuticals plc * | 19,200 | 2,101,824 |
Johnson & Johnson | 857,387 | 99,448,318 |
Juno Therapeutics, Inc. * | 21,500 | 522,235 |
Kite Pharma, Inc. *(b) | 12,800 | 566,912 |
Mallinckrodt plc * | 35,320 | 2,093,063 |
Merck & Co., Inc. | 873,418 | 51,287,105 |
Mettler-Toledo International, Inc. * | 8,800 | 3,555,904 |
Mylan N.V. * | 102,600 | 3,744,900 |
Neurocrine Biosciences, Inc. * | 24,300 | 1,063,611 |
OPKO Health, Inc. *(b) | 101,700 | 958,014 |
PAREXEL International Corp. * | 17,300 | 1,007,898 |
Security | Number of Shares | Value ($) |
PerkinElmer, Inc. | 32,300 | 1,643,747 |
Perrigo Co., plc | 29,400 | 2,445,786 |
Pfizer, Inc. | 1,909,351 | 60,545,520 |
PRA Health Sciences, Inc. * | 6,800 | 361,896 |
Prestige Brands Holdings, Inc. * | 16,300 | 738,064 |
Quintiles IMS Holdings, Inc. * | 38,946 | 2,793,986 |
Regeneron Pharmaceuticals, Inc. * | 24,400 | 8,418,488 |
Seattle Genetics, Inc. * | 33,600 | 1,737,120 |
The Medicines Co. * | 21,500 | 708,425 |
Thermo Fisher Scientific, Inc. | 123,798 | 18,202,020 |
Ultragenyx Pharmaceutical, Inc. * | 10,900 | 642,991 |
United Therapeutics Corp. * | 14,100 | 1,692,987 |
Vertex Pharmaceuticals, Inc. * | 77,612 | 5,887,646 |
VWR Corp. * | 27,000 | 742,770 |
Waters Corp. * | 25,000 | 3,478,500 |
Zoetis, Inc. | 144,700 | 6,916,660 |
534,725,744 | ||
Real Estate 3.8% | ||
Alexandria Real Estate Equities, Inc. | 24,500 | 2,641,345 |
American Campus Communities, Inc. | 44,400 | 2,313,684 |
American Homes 4 Rent, Class A | 67,200 | 1,418,592 |
American Tower Corp. | 133,189 | 15,608,419 |
Apartment Investment & Management Co., Class A | 49,418 | 2,177,851 |
Apple Hospitality REIT, Inc. | 46,300 | 834,789 |
AvalonBay Communities, Inc. | 41,849 | 7,163,712 |
Boston Properties, Inc. | 47,905 | 5,771,594 |
Brixmor Property Group, Inc. | 103,700 | 2,636,054 |
Camden Property Trust | 26,864 | 2,187,804 |
CBRE Group, Inc., Class A * | 84,537 | 2,177,673 |
Columbia Property Trust, Inc. | 35,400 | 746,232 |
Communications Sales & Leasing, Inc. | 36,400 | 1,034,852 |
Crown Castle International Corp. | 104,627 | 9,520,011 |
CubeSmart | 50,100 | 1,306,107 |
DCT Industrial Trust, Inc. | 27,600 | 1,290,300 |
DDR Corp. | 91,800 | 1,403,622 |
Digital Realty Trust, Inc. | 45,100 | 4,213,693 |
Douglas Emmett, Inc. | 47,600 | 1,737,400 |
Duke Realty Corp. | 104,537 | 2,733,643 |
EPR Properties | 17,000 | 1,236,240 |
Equinix, Inc. | 23,262 | 8,311,047 |
Equity Commonwealth * | 40,300 | 1,217,463 |
Equity LifeStyle Properties, Inc. | 23,400 | 1,774,656 |
Equity One, Inc. | 30,800 | 877,800 |
Equity Residential | 111,372 | 6,877,221 |
Essex Property Trust, Inc. | 20,929 | 4,480,690 |
Extra Space Storage, Inc. | 40,600 | 2,969,890 |
Federal Realty Investment Trust | 21,596 | 3,136,387 |
Forest City Realty Trust, Inc., Class A | 61,800 | 1,334,262 |
Gaming & Leisure Properties, Inc. | 57,300 | 1,881,159 |
General Growth Properties, Inc. | 187,700 | 4,683,115 |
Gramercy Property Trust | 124,300 | 1,146,046 |
HCP, Inc. | 144,480 | 4,948,440 |
Healthcare Realty Trust, Inc. | 28,600 | 912,054 |
Healthcare Trust of America, Inc., Class A | 36,800 | 1,126,080 |
Highwoods Properties, Inc. | 31,600 | 1,568,308 |
Hospitality Properties Trust | 52,081 | 1,424,936 |
Host Hotels & Resorts, Inc. | 240,139 | 3,717,352 |
Iron Mountain, Inc. | 77,466 | 2,612,928 |
Jones Lang LaSalle, Inc. | 14,800 | 1,433,380 |
Kilroy Realty Corp. | 27,700 | 1,989,691 |
Kimco Realty Corp. | 126,531 | 3,366,990 |
Lamar Advertising Co., Class A | 26,170 | 1,660,487 |
Liberty Property Trust | 46,304 | 1,872,071 |
Life Storage, Inc. | 12,700 | 1,024,255 |
Security | Number of Shares | Value ($) |
Mid-America Apartment Communities, Inc. | 23,900 | 2,216,725 |
National Retail Properties, Inc. | 43,000 | 1,961,660 |
Omega Healthcare Investors, Inc. | 71,900 | 2,288,577 |
Outfront Media, Inc. | 42,000 | 903,420 |
Paramount Group, Inc. | 48,500 | 754,175 |
Piedmont Office Realty Trust, Inc., Class A | 72,100 | 1,476,608 |
Post Properties, Inc. | 17,000 | 1,118,430 |
Prologis, Inc. | 162,080 | 8,454,093 |
Public Storage | 46,709 | 9,982,647 |
Realty Income Corp. | 76,400 | 4,525,936 |
Regency Centers Corp. | 30,582 | 2,204,045 |
Retail Properties of America, Inc., Class A | 70,000 | 1,089,900 |
Senior Housing Properties Trust | 69,500 | 1,478,265 |
Simon Property Group, Inc. | 97,150 | 18,066,014 |
SL Green Realty Corp. | 31,851 | 3,128,405 |
Spirit Realty Capital, Inc. | 146,700 | 1,747,197 |
STORE Capital Corp. | 39,500 | 1,077,955 |
Sun Communities, Inc. | 23,200 | 1,784,776 |
Tanger Factory Outlet Centers, Inc. | 30,900 | 1,075,320 |
Taubman Centers, Inc. | 19,800 | 1,434,708 |
The Howard Hughes Corp. * | 11,500 | 1,263,045 |
The Macerich Co. | 40,745 | 2,883,931 |
UDR, Inc. | 85,262 | 2,981,612 |
Ventas, Inc. | 107,029 | 7,251,215 |
VEREIT, Inc. | 208,200 | 1,957,080 |
Vornado Realty Trust | 54,334 | 5,041,109 |
Weingarten Realty Investors | 43,602 | 1,578,828 |
Welltower, Inc. | 111,421 | 7,635,681 |
Weyerhaeuser Co. | 243,126 | 7,276,761 |
WP Carey, Inc. | 29,500 | 1,791,830 |
242,930,273 | ||
Retailing 5.3% | ||
Advance Auto Parts, Inc. | 22,622 | 3,168,890 |
Amazon.com, Inc. * | 121,041 | 95,600,603 |
American Eagle Outfitters, Inc. | 54,400 | 926,976 |
AutoNation, Inc. * | 10,166 | 445,982 |
AutoZone, Inc. * | 9,533 | 7,075,011 |
Bed Bath & Beyond, Inc. | 51,220 | 2,070,312 |
Best Buy Co., Inc. | 85,826 | 3,339,490 |
Burlington Stores, Inc. * | 26,100 | 1,955,934 |
CarMax, Inc. * | 61,400 | 3,066,316 |
CST Brands, Inc. | 10,000 | 480,200 |
Dick's Sporting Goods, Inc. | 26,700 | 1,485,855 |
Dollar General Corp. | 93,200 | 6,439,188 |
Dollar Tree, Inc. * | 71,418 | 5,395,630 |
Expedia, Inc. | 36,404 | 4,704,489 |
Foot Locker, Inc. | 40,809 | 2,724,817 |
GameStop Corp., Class A | 31,900 | 767,195 |
Genuine Parts Co. | 45,830 | 4,151,740 |
Kohl's Corp. | 56,465 | 2,470,344 |
L Brands, Inc. | 78,823 | 5,690,232 |
Liberty Interactive Corp., QVC Group, Class A * | 136,208 | 2,518,486 |
Liberty Ventures, Series A * | 44,681 | 1,782,772 |
LKQ Corp. * | 99,600 | 3,215,088 |
Lowe's Cos., Inc. | 288,436 | 19,224,259 |
Macy's, Inc. | 93,676 | 3,418,237 |
Netflix, Inc. * | 134,800 | 16,832,476 |
Nordstrom, Inc. | 41,600 | 2,163,200 |
O'Reilly Automotive, Inc. * | 30,466 | 8,056,429 |
Penske Automotive Group, Inc. | 15,300 | 684,675 |
Pool Corp. | 13,000 | 1,203,540 |
Ross Stores, Inc. | 127,624 | 7,981,605 |
Sally Beauty Holdings, Inc. * | 50,000 | 1,297,000 |
Signet Jewelers Ltd. (b) | 24,300 | 1,974,618 |
Security | Number of Shares | Value ($) |
Staples, Inc. | 197,970 | 1,464,978 |
Target Corp. | 190,562 | 13,097,326 |
The Gap, Inc. | 72,255 | 1,993,515 |
The Home Depot, Inc. | 392,035 | 47,832,190 |
The Priceline Group, Inc. * | 15,546 | 22,918,380 |
The TJX Cos., Inc. | 207,290 | 15,287,638 |
Tiffany & Co. | 33,573 | 2,464,930 |
Tractor Supply Co. | 41,400 | 2,592,882 |
TripAdvisor, Inc. * | 33,200 | 2,140,736 |
Ulta Salon, Cosmetics & Fragrance, Inc. * | 19,900 | 4,842,466 |
Urban Outfitters, Inc. * | 27,996 | 936,466 |
Williams-Sonoma, Inc. | 25,300 | 1,169,366 |
339,052,462 | ||
Semiconductors & Semiconductor Equipment 3.1% | ||
Analog Devices, Inc. | 95,674 | 6,132,704 |
Applied Materials, Inc. | 354,889 | 10,320,172 |
Broadcom Ltd. | 122,770 | 20,905,276 |
Cavium, Inc. * | 15,000 | 846,750 |
Cypress Semiconductor Corp. | 105,500 | 1,051,835 |
Integrated Device Technology, Inc. * | 47,100 | 975,441 |
Intel Corp. | 1,472,780 | 51,355,839 |
KLA-Tencor Corp. | 47,638 | 3,578,090 |
Lam Research Corp. | 48,319 | 4,680,178 |
Linear Technology Corp. | 77,466 | 4,652,608 |
Marvell Technology Group Ltd. | 114,162 | 1,487,531 |
Maxim Integrated Products, Inc. | 93,500 | 3,705,405 |
Microchip Technology, Inc. | 68,648 | 4,156,636 |
Micron Technology, Inc. * | 333,400 | 5,721,144 |
Microsemi Corp. * | 35,700 | 1,504,041 |
NVIDIA Corp. | 156,999 | 11,172,049 |
ON Semiconductor Corp. * | 126,800 | 1,479,756 |
Qorvo, Inc. * | 18,100 | 1,007,265 |
QUALCOMM, Inc. | 468,578 | 32,200,680 |
Skyworks Solutions, Inc. | 59,900 | 4,608,706 |
Teradyne, Inc. | 62,600 | 1,457,954 |
Texas Instruments, Inc. | 314,775 | 22,301,809 |
Versum Materials, Inc. * | 30,889 | 701,180 |
Xilinx, Inc. | 78,605 | 3,998,636 |
200,001,685 | ||
Software & Services 13.0% | ||
Accenture plc, Class A | 195,400 | 22,713,296 |
Activision Blizzard, Inc. | 187,838 | 8,108,967 |
Adobe Systems, Inc. * | 155,313 | 16,697,701 |
Akamai Technologies, Inc. * | 55,509 | 3,856,210 |
Alliance Data Systems Corp. | 17,871 | 3,654,083 |
Alphabet, Inc., Class A * | 91,788 | 74,339,101 |
Alphabet, Inc., Class C * | 93,332 | 73,222,687 |
Amdocs Ltd. | 46,200 | 2,700,390 |
ANSYS, Inc. * | 27,400 | 2,502,990 |
Aspen Technology, Inc. * | 24,400 | 1,201,456 |
Autodesk, Inc. * | 69,872 | 5,050,348 |
Automatic Data Processing, Inc. | 143,151 | 12,462,726 |
Blackbaud, Inc. | 13,800 | 847,320 |
Booz Allen Hamilton Holding Corp. | 38,600 | 1,176,142 |
Broadridge Financial Solutions, Inc. | 36,400 | 2,353,624 |
CA, Inc. | 88,681 | 2,726,054 |
Cadence Design Systems, Inc. * | 92,587 | 2,368,376 |
CDK Global, Inc. | 51,400 | 2,806,954 |
Citrix Systems, Inc. * | 48,200 | 4,087,360 |
Cognizant Technology Solutions Corp., Class A * | 191,832 | 9,850,573 |
CommerceHub, Inc., Series A * | 4,468 | 67,109 |
CommerceHub, Inc., Series C * | 8,936 | 134,487 |
Computer Sciences Corp. | 42,331 | 2,304,923 |
Security | Number of Shares | Value ($) |
CoreLogic, Inc. * | 26,700 | 1,136,352 |
CoStar Group, Inc. * | 10,600 | 1,983,472 |
CSRA, Inc. | 42,331 | 1,062,085 |
Dell Technologies, Inc., Class V * | 68,004 | 3,338,316 |
DST Systems, Inc. | 10,980 | 1,055,837 |
eBay, Inc. * | 336,070 | 9,581,356 |
Electronic Arts, Inc. * | 98,381 | 7,724,876 |
EPAM Systems, Inc. * | 5,900 | 379,783 |
Euronet Worldwide, Inc. * | 15,400 | 1,225,070 |
Facebook, Inc., Class A * | 719,400 | 94,234,206 |
Fair Isaac Corp. | 9,300 | 1,122,324 |
Fidelity National Information Services, Inc. | 94,108 | 6,956,463 |
First Data Corp., Class A * | 25,000 | 349,750 |
Fiserv, Inc. * | 70,978 | 6,989,913 |
FleetCor Technologies, Inc. * | 24,100 | 4,224,730 |
Fortinet, Inc. * | 44,600 | 1,429,876 |
Gartner, Inc. * | 26,400 | 2,271,456 |
Genpact Ltd. * | 44,550 | 1,024,205 |
Global Payments, Inc. | 47,099 | 3,415,620 |
Guidewire Software, Inc. * | 21,100 | 1,212,195 |
IAC/InterActiveCorp | 25,730 | 1,658,041 |
International Business Machines Corp. | 277,840 | 42,701,230 |
Intuit, Inc. | 82,344 | 8,954,087 |
j2 Global, Inc. | 5,800 | 412,670 |
Jack Henry & Associates, Inc. | 24,200 | 1,960,684 |
LinkedIn Corp., Class A * | 35,900 | 6,806,640 |
Manhattan Associates, Inc. * | 24,200 | 1,225,488 |
MasterCard, Inc., Class A | 305,410 | 32,684,978 |
MAXIMUS, Inc. | 9,300 | 484,158 |
Microsoft Corp. | 2,430,038 | 145,607,877 |
NetSuite, Inc. * | 9,800 | 912,576 |
Oracle Corp. | 958,410 | 36,822,112 |
Paychex, Inc. | 102,528 | 5,659,546 |
PayPal Holdings, Inc. * | 348,370 | 14,513,094 |
PTC, Inc. * | 39,700 | 1,883,368 |
Rackspace Hosting, Inc. * | 15,000 | 479,100 |
Red Hat, Inc. * | 57,283 | 4,436,568 |
Sabre Corp. | 65,300 | 1,686,699 |
salesforce.com, Inc. * | 199,040 | 14,959,846 |
ServiceNow, Inc. * | 45,800 | 4,026,278 |
Splunk, Inc. * | 33,800 | 2,034,422 |
SS&C Technologies Holdings, Inc. | 49,000 | 1,564,570 |
Symantec Corp. | 196,689 | 4,923,126 |
Synopsys, Inc. * | 48,700 | 2,888,397 |
Syntel, Inc. | 11,300 | 227,130 |
Tableau Software, Inc., Class A * | 8,000 | 384,400 |
Take-Two Interactive Software, Inc. * | 25,200 | 1,118,628 |
Teradata Corp. * | 35,844 | 966,354 |
The Ultimate Software Group, Inc. * | 8,900 | 1,877,811 |
The Western Union Co. | 163,440 | 3,280,241 |
Total System Services, Inc. | 55,100 | 2,748,388 |
Twitter, Inc. * | 109,300 | 1,961,935 |
Tyler Technologies, Inc. * | 9,300 | 1,491,720 |
Vantiv, Inc., Class A * | 51,300 | 2,993,868 |
VeriSign, Inc. * | 29,605 | 2,487,412 |
Visa, Inc., Class A | 601,900 | 49,662,769 |
VMware, Inc., Class A *(b) | 24,100 | 1,894,260 |
WEX, Inc. * | 13,100 | 1,429,210 |
Workday, Inc., Class A * | 30,700 | 2,661,076 |
Xerox Corp. | 293,045 | 2,863,050 |
Yahoo! Inc. * | 274,179 | 11,392,137 |
834,676,706 | ||
Technology Hardware & Equipment 5.2% | ||
Amphenol Corp., Class A | 92,240 | 6,081,383 |
Apple, Inc. | 1,680,974 | 190,857,788 |
Arista Networks, Inc. * | 10,800 | 915,300 |
Security | Number of Shares | Value ($) |
ARRIS International plc * | 55,100 | 1,530,678 |
Arrow Electronics, Inc. * | 28,800 | 1,760,256 |
Avnet, Inc. | 42,546 | 1,784,805 |
Brocade Communications Systems, Inc. | 127,300 | 1,349,380 |
CDW Corp. | 42,900 | 1,926,639 |
Cisco Systems, Inc. | 1,571,015 | 48,198,740 |
Cognex Corp. | 26,700 | 1,377,720 |
CommScope Holding Co., Inc. * | 49,700 | 1,518,335 |
Corning, Inc. | 345,763 | 7,852,278 |
F5 Networks, Inc. * | 23,200 | 3,206,472 |
FLIR Systems, Inc. | 38,200 | 1,257,544 |
Harris Corp. | 38,807 | 3,461,973 |
Hewlett Packard Enterprise Co. | 538,668 | 12,103,870 |
HP, Inc. | 541,668 | 7,848,769 |
Ingram Micro, Inc., Class A | 43,351 | 1,612,657 |
IPG Photonics Corp. * | 12,900 | 1,251,429 |
Jabil Circuit, Inc. | 62,300 | 1,329,482 |
Juniper Networks, Inc. | 110,994 | 2,923,582 |
Keysight Technologies, Inc. * | 24,100 | 790,480 |
Motorola Solutions, Inc. | 49,912 | 3,622,613 |
National Instruments Corp. | 31,200 | 876,408 |
NCR Corp. * | 38,744 | 1,357,977 |
NetApp, Inc. | 88,200 | 2,993,508 |
NetScout Systems, Inc. * | 30,300 | 831,735 |
Palo Alto Networks, Inc. * | 22,300 | 3,430,409 |
Seagate Technology plc | 92,137 | 3,161,220 |
SYNNEX Corp. | 9,300 | 953,622 |
TE Connectivity Ltd. | 119,000 | 7,481,530 |
Trimble, Inc. * | 84,000 | 2,321,760 |
ViaSat, Inc. * | 13,600 | 960,976 |
Western Digital Corp. | 86,893 | 5,078,027 |
Zebra Technologies Corp., Class A * | 7,000 | 460,880 |
334,470,225 | ||
Telecommunication Services 2.4% | ||
AT&T, Inc. | 1,934,941 | 71,186,479 |
CenturyLink, Inc. | 168,111 | 4,468,390 |
Frontier Communications Corp. | 138,406 | 556,392 |
Level 3 Communications, Inc. * | 91,920 | 5,161,308 |
SBA Communications Corp., Class A * | 38,300 | 4,338,624 |
Sprint Corp. * | 150,000 | 924,000 |
T-Mobile US, Inc. * | 90,900 | 4,520,457 |
Verizon Communications, Inc. | 1,272,057 | 61,185,942 |
Zayo Group Holdings, Inc. * | 12,900 | 415,122 |
152,756,714 | ||
Transportation 2.1% | ||
Alaska Air Group, Inc. | 38,800 | 2,802,136 |
AMERCO | 2,000 | 644,780 |
American Airlines Group, Inc. | 151,900 | 6,167,140 |
Avis Budget Group, Inc. * | 34,800 | 1,126,128 |
C.H. Robinson Worldwide, Inc. | 43,348 | 2,952,866 |
CSX Corp. | 294,626 | 8,989,039 |
Delta Air Lines, Inc. | 244,400 | 10,208,588 |
Expeditors International of Washington, Inc. | 59,698 | 3,072,656 |
FedEx Corp. | 79,528 | 13,863,321 |
Genesee & Wyoming, Inc., Class A * | 19,900 | 1,352,006 |
Hertz Global Holdings, Inc. * | 7,000 | 232,050 |
JB Hunt Transport Services, Inc. | 26,491 | 2,161,931 |
JetBlue Airways Corp. * | 75,900 | 1,326,732 |
Kansas City Southern | 33,100 | 2,904,856 |
Kirby Corp. * | 18,900 | 1,114,155 |
Macquarie Infrastructure Corp. | 23,100 | 1,889,811 |
Norfolk Southern Corp. | 93,086 | 8,656,998 |
Old Dominion Freight Line, Inc. * | 19,400 | 1,448,792 |
Security | Number of Shares | Value ($) |
Ryder System, Inc. | 16,964 | 1,177,132 |
Southwest Airlines Co. | 201,388 | 8,065,589 |
Union Pacific Corp. | 263,024 | 23,193,456 |
United Continental Holdings, Inc. * | 114,782 | 6,454,192 |
United Parcel Service, Inc., Class B | 216,935 | 23,376,916 |
133,181,270 | ||
Utilities 3.4% | ||
AES Corp. | 196,502 | 2,312,828 |
Alliant Energy Corp. | 74,800 | 2,846,140 |
Ameren Corp. | 78,585 | 3,925,321 |
American Electric Power Co., Inc. | 153,071 | 9,925,124 |
American Water Works Co., Inc. | 54,500 | 4,035,180 |
Aqua America, Inc. | 58,917 | 1,808,752 |
Atmos Energy Corp. | 30,718 | 2,285,112 |
Calpine Corp. * | 30,000 | 357,000 |
CenterPoint Energy, Inc. | 133,911 | 3,053,171 |
CMS Energy Corp. | 85,733 | 3,613,646 |
Consolidated Edison, Inc. | 89,906 | 6,792,398 |
Dominion Resources, Inc. | 200,608 | 15,085,722 |
DTE Energy Co. | 55,897 | 5,366,671 |
Duke Energy Corp. | 213,295 | 17,067,866 |
Edison International | 99,454 | 7,307,880 |
Entergy Corp. | 57,362 | 4,226,432 |
Eversource Energy | 101,312 | 5,578,239 |
Exelon Corp. | 284,519 | 9,693,562 |
FirstEnergy Corp. | 127,391 | 4,368,237 |
Great Plains Energy, Inc. | 52,000 | 1,478,880 |
IDACORP, Inc. | 19,800 | 1,552,122 |
MDU Resources Group, Inc. | 64,217 | 1,683,128 |
National Fuel Gas Co. | 28,047 | 1,469,102 |
New Jersey Resources Corp. | 26,100 | 886,095 |
NextEra Energy, Inc. | 145,308 | 18,599,424 |
NiSource, Inc. | 95,880 | 2,230,169 |
NorthWestern Corp. | 14,000 | 805,700 |
OGE Energy Corp. | 66,760 | 2,072,230 |
ONE Gas, Inc. | 16,000 | 980,480 |
PG&E Corp. | 158,237 | 9,829,682 |
Pinnacle West Capital Corp. | 32,687 | 2,488,461 |
Portland General Electric Co. | 27,200 | 1,187,008 |
PPL Corp. | 211,761 | 7,271,873 |
Public Service Enterprise Group, Inc. | 156,372 | 6,580,134 |
SCANA Corp. | 44,531 | 3,266,794 |
Sempra Energy | 82,678 | 8,854,814 |
Southwest Gas Corp. | 14,200 | 1,028,932 |
Spire, Inc. | 12,900 | 810,120 |
The Southern Co. | 313,618 | 16,173,280 |
UGI Corp. | 50,172 | 2,322,462 |
Vectren Corp. | 22,800 | 1,147,068 |
WEC Energy Group, Inc. | 96,477 | 5,761,606 |
Westar Energy, Inc. | 48,700 | 2,791,484 |
WGL Holdings, Inc. | 15,100 | 952,357 |
Xcel Energy, Inc. | 160,409 | 6,664,994 |
218,537,680 | ||
Total Common Stock | ||
(Cost $1,927,957,536) | 6,404,137,765 | |
Other Investment Companies 0.6% of net assets | ||
Money Market Fund 0.4% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.25% (c) | 22,977,593 | 22,977,593 |
Security | Number of Shares | Value ($) |
Securities Lending Collateral 0.2% | ||
Wells Fargo Government Money Market Fund, Select Class 0.32% (c) | 14,824,150 | 14,824,150 |
Total Other Investment Companies | ||
(Cost $37,801,743) | 37,801,743 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $14,532,147. |
(c) | The rate shown is the 7-day yield. |
REIT — | Real Estate Investment Trust |
Number of Contracts | Contract Value ($) | Unrealized Appreciation ($) | ||||
Futures Contracts | ||||||
S&P 500 Index, e-mini, Long, expires 12/16/16 | 280 | 29,681,400 | 1,633 |
Holdings by Category | Cost ($) | Value ($) | |
99.0% | Common Stock | 2,015,427,364 | 2,592,562,813 |
0.0% | Rights | 462,875 | 503,531 |
2.8% | Other Investment Company | 71,694,474 | 71,694,474 |
1.1% | Short-Term Investments | 29,131,264 | 29,131,264 |
102.9% | Total Investments | 2,116,715,977 | 2,693,892,082 |
(2.9%) | Other Assets and Liabilities, Net | (75,180,713) | |
100.0% | Net Assets | 2,618,711,369 |
Security | Number of Shares | Value ($) |
Common Stock 99.0% of net assets | ||
Automobiles & Components 1.3% | ||
American Axle & Manufacturing Holdings, Inc. * | 122,400 | 2,193,408 |
Cooper Tire & Rubber Co. | 85,699 | 3,149,438 |
Cooper-Standard Holding, Inc. * | 22,600 | 2,062,702 |
Dana, Inc. | 235,129 | 3,639,797 |
Dorman Products, Inc. * | 40,500 | 2,601,720 |
Drew Industries, Inc. | 37,000 | 3,313,350 |
Federal-Mogul Holdings Corp. * | 44,553 | 412,561 |
Fox Factory Holding Corp. * | 34,400 | 746,480 |
Gentherm, Inc. * | 55,300 | 1,556,695 |
Horizon Global Corp. * | 26,800 | 537,072 |
Metaldyne Performance Group, Inc. | 27,300 | 421,785 |
Modine Manufacturing Co. * | 73,100 | 800,445 |
Motorcar Parts of America, Inc. * | 31,200 | 818,688 |
Spartan Motors, Inc. | 51,800 | 442,890 |
Standard Motor Products, Inc. | 35,200 | 1,721,280 |
Stoneridge, Inc. * | 42,600 | 631,332 |
Strattec Security Corp. | 5,100 | 181,050 |
Superior Industries International, Inc. | 37,500 | 918,750 |
Tenneco, Inc. * | 88,228 | 4,858,716 |
Tower International, Inc. | 30,200 | 655,340 |
Unique Fabricating, Inc. | 10,200 | 127,398 |
Winnebago Industries, Inc. | 43,600 | 1,231,700 |
Workhorse Group, Inc. * | 18,500 | 122,840 |
33,145,437 | ||
Banks 12.5% | ||
1st Source Corp. | 26,203 | 905,576 |
Access National Corp. | 14,138 | 333,233 |
ACNB Corp. (b) | 8,600 | 231,340 |
Allegiance Bancshares, Inc. * | 17,100 | 450,585 |
American National Bankshares, Inc. | 10,700 | 289,435 |
Ameris Bancorp | 51,500 | 1,869,450 |
Ames National Corp. | 15,500 | 420,050 |
Arrow Financial Corp. | 19,794 | 625,490 |
Astoria Financial Corp. | 138,600 | 2,027,718 |
Atlantic Capital Bancshares, Inc. * | 26,200 | 394,310 |
Banc of California, Inc. | 74,900 | 996,170 |
BancFirst Corp. | 12,316 | 883,057 |
Banco Latinoamericano de Comercio Exterior, S.A., Class E | 50,257 | 1,355,431 |
Security | Number of Shares | Value ($) |
BancorpSouth, Inc. | 138,600 | 3,257,100 |
Bank Mutual Corp. | 71,800 | 560,040 |
Bank of Marin Bancorp | 9,100 | 461,825 |
Bank of the Ozarks, Inc. | 138,768 | 5,128,865 |
BankFinancial Corp. | 28,200 | 354,474 |
Bankwell Financial Group, Inc. | 7,700 | 189,882 |
Banner Corp. | 47,757 | 2,155,751 |
Bar Harbor Bankshares | 8,070 | 293,345 |
Bear State Financial, Inc. | 31,000 | 274,040 |
Beneficial Bancorp, Inc. | 113,011 | 1,638,659 |
Berkshire Hills Bancorp, Inc. | 48,100 | 1,421,355 |
Blue Hills Bancorp, Inc. | 43,900 | 682,645 |
BNC Bancorp | 62,987 | 1,568,376 |
BofI Holding, Inc. *(b) | 95,880 | 1,786,244 |
Boston Private Financial Holdings, Inc. | 127,100 | 1,671,365 |
Bridge Bancorp, Inc. | 26,000 | 716,300 |
Brookline Bancorp, Inc. | 105,522 | 1,350,682 |
Bryn Mawr Bank Corp. | 27,200 | 854,080 |
BSB Bancorp, Inc. * | 8,867 | 217,242 |
C&F Financial Corp. | 4,700 | 196,460 |
Camden National Corp. | 22,050 | 728,091 |
Capital Bank Financial Corp., Class A | 32,100 | 1,051,275 |
Capital City Bank Group, Inc. | 15,300 | 230,112 |
Capitol Federal Financial, Inc. | 200,857 | 2,946,572 |
Cardinal Financial Corp. | 48,200 | 1,266,696 |
Carolina Financial Corp. | 15,600 | 355,680 |
Cascade Bancorp * | 55,003 | 336,068 |
Cathay General Bancorp | 115,726 | 3,465,994 |
CenterState Banks, Inc. | 70,500 | 1,316,940 |
Central Pacific Financial Corp. | 44,100 | 1,130,283 |
Central Valley Community Bancorp | 13,500 | 193,320 |
Century Bancorp, Inc., Class A | 4,700 | 213,145 |
Charter Financial Corp. | 24,859 | 314,466 |
Chemical Financial Corp. | 101,263 | 4,349,246 |
Chemung Financial Corp. | 4,500 | 128,250 |
Citizens & Northern Corp. | 20,300 | 424,676 |
City Holding Co. | 24,800 | 1,296,296 |
Clifton Bancorp, Inc. | 38,861 | 594,185 |
CNB Financial Corp. | 20,700 | 404,685 |
CoBiz Financial, Inc. | 60,600 | 770,832 |
Codorus Valley Bancorp, Inc. | 10,920 | 228,228 |
Columbia Banking System, Inc. | 92,500 | 3,054,350 |
Community Bank System, Inc. | 67,022 | 3,157,406 |
Community Trust Bancorp, Inc. | 25,180 | 920,329 |
CommunityOne Bancorp *(a)(f) | 23,300 | 328,122 |
ConnectOne Bancorp, Inc. | 46,340 | 850,339 |
County Bancorp, Inc. | 7,500 | 147,750 |
CU Bancorp * | 25,400 | 596,900 |
Customers Bancorp, Inc. * | 41,850 | 1,132,879 |
CVB Financial Corp. | 162,619 | 2,728,747 |
Dime Community Bancshares, Inc. | 50,600 | 819,720 |
Eagle Bancorp, Inc. * | 45,780 | 2,250,087 |
Enterprise Bancorp, Inc. | 14,531 | 379,259 |
Enterprise Financial Services Corp. | 32,400 | 1,072,440 |
Equity Bancshares, Inc., Class A * | 5,500 | 143,165 |
ESSA Bancorp, Inc. | 12,500 | 168,500 |
Essent Group Ltd. * | 114,100 | 3,016,804 |
EverBank Financial Corp. | 166,500 | 3,215,115 |
F.N.B. Corp. | 333,026 | 4,352,650 |
Security | Number of Shares | Value ($) |
Farmers Capital Bank Corp. | 13,815 | 433,791 |
Farmers National Banc Corp. | 36,500 | 383,250 |
FCB Financial Holdings, Inc., Class A * | 47,169 | 1,759,404 |
Federal Agricultural Mortgage Corp., Class C | 15,800 | 645,114 |
Fidelity Southern Corp. | 28,448 | 518,607 |
Financial Institutions, Inc. | 22,900 | 614,865 |
First Bancorp (North Carolina) | 31,600 | 624,732 |
First BanCorp (Puerto Rico) * | 187,700 | 962,901 |
First Bancorp, Inc. | 18,296 | 433,066 |
First Busey Corp. | 46,100 | 1,065,371 |
First Business Financial Services, Inc. | 11,600 | 218,660 |
First Citizens BancShares, Inc., Class A | 12,041 | 3,503,931 |
First Commonwealth Financial Corp. | 144,929 | 1,472,479 |
First Community Bancshares, Inc. | 24,600 | 557,190 |
First Community Financial Partners, Inc. * | 20,900 | 199,595 |
First Connecticut Bancorp, Inc. | 23,900 | 424,225 |
First Defiance Financial Corp. | 12,700 | 501,396 |
First Financial Bancorp | 98,289 | 2,113,213 |
First Financial Bankshares, Inc. | 98,762 | 3,575,184 |
First Financial Corp. | 17,700 | 709,770 |
First Financial Northwest, Inc. | 10,300 | 163,770 |
First Foundation, Inc. * | 19,700 | 487,378 |
First Internet Bancorp | 7,900 | 207,375 |
First Interstate BancSystem, Inc., Class A | 28,833 | 919,773 |
First Merchants Corp. | 60,900 | 1,714,335 |
First Mid-Illinois Bancshares, Inc. | 13,700 | 362,913 |
First Midwest Bancorp, Inc. | 121,763 | 2,351,244 |
First NBC Bank Holding Co. * | 21,900 | 118,260 |
First Northwest Bancorp * | 15,400 | 210,826 |
Flagstar Bancorp, Inc. * | 33,700 | 924,391 |
Flushing Financial Corp. | 47,500 | 1,017,450 |
Franklin Financial Network, Inc. * | 14,664 | 478,046 |
Fulton Financial Corp. | 266,649 | 3,973,070 |
German American Bancorp, Inc. | 20,700 | 805,851 |
Glacier Bancorp, Inc. | 116,611 | 3,295,427 |
Great Southern Bancorp, Inc. | 16,300 | 674,005 |
Great Western Bancorp, Inc. | 89,717 | 2,892,476 |
Green Bancorp, Inc. * | 29,200 | 302,220 |
Guaranty Bancorp | 20,920 | 397,480 |
Hancock Holding Co. | 118,626 | 3,979,902 |
Hanmi Financial Corp. | 51,600 | 1,290,000 |
HarborOne Bancorp, Inc. * | 25,100 | 428,457 |
Heartland Financial USA, Inc. | 33,100 | 1,239,595 |
Heritage Commerce Corp. | 39,500 | 428,575 |
Heritage Financial Corp. | 45,545 | 838,028 |
Heritage Oaks Bancorp | 27,600 | 219,420 |
Hilltop Holdings, Inc. * | 114,813 | 2,835,881 |
Hingham Institution for Savings | 2,496 | 358,051 |
Home Bancorp, Inc. | 7,300 | 209,583 |
Home BancShares, Inc. | 184,660 | 3,972,037 |
HomeStreet, Inc. * | 34,122 | 940,061 |
HomeTrust Bancshares, Inc. * | 29,400 | 546,840 |
Hope Bancorp, Inc. | 196,779 | 3,176,013 |
Horizon Bancorp | 19,900 | 577,100 |
IBERIABANK Corp. | 62,275 | 4,088,354 |
Impac Mortgage Holdings, Inc. * | 12,642 | 200,376 |
Independent Bank Corp., Massachusetts | 39,800 | 2,194,970 |
Independent Bank Corp., Michigan | 33,600 | 564,480 |
Independent Bank Group, Inc. | 17,200 | 830,760 |
International Bancshares Corp. | 82,360 | 2,540,806 |
Investors Bancorp, Inc. | 459,714 | 5,636,094 |
Kearny Financial Corp. | 144,832 | 2,020,406 |
Lake Sunapee Bank Group | 10,400 | 189,488 |
Lakeland Bancorp, Inc. | 65,597 | 928,198 |
Lakeland Financial Corp. | 39,000 | 1,436,760 |
LCNB Corp. | 12,200 | 209,840 |
LegacyTexas Financial Group, Inc. | 71,900 | 2,459,699 |
Security | Number of Shares | Value ($) |
LendingTree, Inc. *(b) | 10,000 | 798,500 |
Live Oak Bancshares, Inc. | 30,100 | 480,095 |
Macatawa Bank Corp. | 39,500 | 321,135 |
MainSource Financial Group, Inc. | 33,544 | 837,258 |
MB Financial, Inc. | 118,187 | 4,300,825 |
MBT Financial Corp. | 27,100 | 238,480 |
Mercantile Bank Corp. | 25,300 | 696,256 |
Merchants Bancshares, Inc. | 9,946 | 427,678 |
Meridian Bancorp, Inc. | 74,844 | 1,193,762 |
Meta Financial Group, Inc. | 13,400 | 981,550 |
MGIC Investment Corp. * | 533,545 | 4,353,727 |
Middleburg Financial Corp. | 7,200 | 218,304 |
Midland States Bancorp, Inc. | 5,700 | 145,521 |
MidWestOne Financial Group, Inc. | 11,300 | 328,604 |
MutualFirst Financial, Inc. | 8,100 | 221,535 |
National Bank Holdings Corp., Class A | 41,100 | 1,000,374 |
National Bankshares, Inc. (b) | 9,300 | 323,175 |
National Commerce Corp. * | 10,932 | 309,376 |
Nationstar Mortgage Holdings, Inc. * | 55,197 | 834,027 |
NBT Bancorp, Inc. | 66,723 | 2,249,232 |
Nicolet Bankshares, Inc. * | 10,000 | 387,600 |
NMI Holdings, Inc., Class A * | 74,100 | 566,865 |
Northfield Bancorp, Inc. | 64,186 | 1,055,860 |
Northrim BanCorp, Inc. | 10,000 | 245,500 |
Northwest Bancshares, Inc. | 149,109 | 2,346,976 |
OceanFirst Financial Corp. | 34,200 | 707,256 |
Ocwen Financial Corp. * | 157,909 | 674,271 |
OFG Bancorp | 64,500 | 686,925 |
Old Line Bancshares, Inc. | 12,300 | 242,126 |
Old National Bancorp | 204,109 | 3,000,402 |
Old Second Bancorp, Inc. | 41,624 | 322,586 |
Opus Bank | 25,642 | 514,122 |
Oritani Financial Corp. | 59,950 | 938,217 |
Orrstown Financial Services, Inc. | 11,100 | 231,990 |
Pacific Continental Corp. | 32,400 | 555,660 |
Pacific Mercantile Bancorp * | 21,300 | 119,280 |
Pacific Premier Bancorp, Inc. * | 44,300 | 1,145,155 |
Park National Corp. | 20,653 | 2,001,895 |
Park Sterling Corp. | 71,600 | 616,476 |
Peapack-Gladstone Financial Corp. | 22,400 | 473,760 |
Penns Woods Bancorp, Inc. | 7,100 | 301,750 |
PennyMac Financial Services, Inc., Class A * | 18,200 | 311,220 |
People's Utah Bancorp | 17,600 | 352,880 |
Peoples Bancorp, Inc. | 28,000 | 693,560 |
Peoples Financial Services Corp. | 11,100 | 442,224 |
PHH Corp. * | 83,463 | 1,211,883 |
Pinnacle Financial Partners, Inc. | 65,520 | 3,380,832 |
Preferred Bank | 19,800 | 750,816 |
Premier Financial Bancorp, Inc. | 12,100 | 203,522 |
PrivateBancorp, Inc. | 122,776 | 5,554,386 |
Prosperity Bancshares, Inc. | 105,795 | 5,868,449 |
Provident Bancorp, Inc. * | 8,700 | 139,635 |
Provident Financial Holdings, Inc. | 7,600 | 145,008 |
Provident Financial Services, Inc. | 94,451 | 2,143,093 |
QCR Holdings, Inc. | 17,862 | 580,515 |
Radian Group, Inc. | 345,240 | 4,691,812 |
Renasant Corp. | 64,366 | 2,171,709 |
Republic Bancorp, Inc., Class A | 16,100 | 509,404 |
Republic First Bancorp, Inc. * | 52,500 | 207,375 |
S&T Bancorp, Inc. | 52,581 | 1,650,518 |
Sandy Spring Bancorp, Inc. | 37,500 | 1,188,750 |
Seacoast Banking Corp. of Florida * | 44,520 | 775,093 |
ServisFirst Bancshares, Inc. | 36,240 | 1,962,034 |
Shore Bancshares, Inc. | 18,700 | 238,799 |
SI Financial Group, Inc. | 13,600 | 177,480 |
Sierra Bancorp | 15,900 | 283,974 |
Simmons First National Corp., Class A | 46,784 | 2,308,790 |
Security | Number of Shares | Value ($) |
South State Corp. | 37,563 | 2,755,246 |
Southern First Bancshares, Inc. * | 8,800 | 233,640 |
Southern Missouri Bancorp, Inc. | 7,800 | 191,802 |
Southern National Bancorp of Virginia, Inc. | 15,700 | 205,984 |
Southside Bancshares, Inc. | 39,303 | 1,282,064 |
Southwest Bancorp, Inc. | 32,600 | 607,990 |
State Bank Financial Corp. | 56,700 | 1,250,235 |
Sterling Bancorp | 197,605 | 3,556,890 |
Stock Yards Bancorp, Inc. | 35,430 | 1,208,163 |
Stonegate Bank | 18,600 | 644,304 |
Suffolk Bancorp | 19,300 | 694,800 |
Summit Financial Group, Inc. | 12,800 | 253,056 |
Sun Bancorp, Inc. | 17,780 | 408,940 |
Territorial Bancorp, Inc. | 12,200 | 347,944 |
Texas Capital Bancshares, Inc. * | 71,800 | 4,257,740 |
The Bancorp, Inc. * | 78,100 | 486,563 |
The First of Long Island Corp. | 19,500 | 623,025 |
Tompkins Financial Corp. | 23,042 | 1,826,770 |
Towne Bank | 86,456 | 2,144,109 |
TriCo Bancshares | 34,700 | 913,304 |
TriState Capital Holdings, Inc. * | 32,400 | 571,860 |
Triumph Bancorp, Inc. * | 22,100 | 411,060 |
TrustCo Bank Corp. | 147,155 | 1,030,085 |
Trustmark Corp. | 105,477 | 2,919,603 |
UMB Financial Corp. | 71,500 | 4,436,575 |
Umpqua Holdings Corp. | 337,388 | 5,155,289 |
Union Bankshares Corp. | 69,268 | 1,934,655 |
Union Bankshares, Inc. (b) | 5,900 | 194,700 |
United Bankshares, Inc. | 101,648 | 3,832,130 |
United Community Banks, Inc. | 111,400 | 2,402,898 |
United Community Financial Corp. | 71,100 | 522,585 |
United Financial Bancorp, Inc. | 79,107 | 1,163,664 |
Univest Corp. of Pennsylvania | 38,375 | 911,406 |
Valley National Bancorp | 393,970 | 3,884,544 |
Veritex Holdings, Inc. * | 12,700 | 223,901 |
Walker & Dunlop, Inc. * | 42,145 | 1,014,430 |
Walter Investment Management Corp. *(b) | 57,403 | 287,015 |
Washington Federal, Inc. | 143,101 | 3,899,502 |
Washington Trust Bancorp, Inc. | 24,100 | 1,106,190 |
WashingtonFirst Bankshares, Inc. (b) | 12,000 | 293,400 |
Waterstone Financial, Inc. | 45,557 | 772,191 |
Webster Financial Corp. | 144,627 | 5,842,931 |
WesBanco, Inc. | 61,495 | 2,023,800 |
West Bancorp, Inc. | 20,800 | 401,440 |
Westamerica Bancorp | 38,600 | 1,913,016 |
Western New England Bancorp, Inc. | 19,100 | 150,890 |
Wintrust Financial Corp. | 79,366 | 4,281,796 |
WSFS Financial Corp. | 46,100 | 1,615,805 |
Xenith Bankshares, Inc. * | 74,100 | 173,394 |
Yadkin Financial Corp. | 75,712 | 2,100,251 |
326,694,407 | ||
Capital Goods 8.8% | ||
AAON, Inc. | 61,487 | 1,841,536 |
AAR Corp. | 50,920 | 1,638,096 |
Actuant Corp., Class A | 91,423 | 2,038,733 |
Advanced Drainage Systems, Inc. | 53,315 | 1,018,317 |
Aegion Corp. * | 54,400 | 1,006,944 |
Aerojet Rocketdyne Holdings, Inc. * | 92,100 | 1,620,960 |
Aerovironment, Inc. * | 30,400 | 729,296 |
Aircastle Ltd. | 75,000 | 1,541,250 |
Alamo Group, Inc. | 15,800 | 1,025,736 |
Albany International Corp., Class A | 42,900 | 1,748,175 |
Allied Motion Technologies, Inc. | 7,974 | 157,726 |
Altra Industrial Motion Corp. | 39,600 | 1,168,200 |
Security | Number of Shares | Value ($) |
Ameresco, Inc., Class A * | 27,700 | 132,960 |
American Railcar Industries, Inc. | 11,431 | 420,432 |
American Superconductor Corp. * | 19,200 | 123,072 |
American Woodmark Corp. * | 22,300 | 1,665,810 |
Apogee Enterprises, Inc. | 46,500 | 1,894,875 |
Applied Industrial Technologies, Inc. | 57,510 | 2,921,508 |
Argan, Inc. | 19,900 | 1,131,315 |
Armstrong Flooring, Inc. * | 35,700 | 577,983 |
Astec Industries, Inc. | 30,895 | 1,710,347 |
Astronics Corp. * | 30,492 | 1,128,814 |
Atkore International Group, Inc. * | 21,400 | 402,320 |
AZZ, Inc. | 38,900 | 2,071,425 |
Babcock & Wilcox Enterprises, Inc. * | 70,200 | 1,104,948 |
Barnes Group, Inc. | 77,740 | 3,097,162 |
Beacon Roofing Supply, Inc. * | 91,882 | 3,862,719 |
Blue Bird Corp. * | 7,000 | 103,250 |
BMC Stock Holdings, Inc. * | 85,100 | 1,408,405 |
Briggs & Stratton Corp. | 69,593 | 1,295,822 |
Builders FirstSource, Inc. * | 129,800 | 1,255,166 |
Caesarstone Ltd. * | 36,600 | 1,293,810 |
CAI International, Inc. * | 24,500 | 186,445 |
Chart Industries, Inc. * | 49,302 | 1,367,637 |
CIRCOR International, Inc. | 26,300 | 1,414,414 |
CLARCOR, Inc. | 74,965 | 4,663,573 |
Columbus McKinnon Corp. | 30,600 | 596,394 |
Comfort Systems USA, Inc. | 57,000 | 1,644,450 |
Continental Building Products, Inc. * | 54,644 | 1,117,470 |
CSW Industrials, Inc. * | 21,700 | 671,615 |
Cubic Corp. | 38,415 | 1,640,320 |
Curtiss-Wright Corp. | 69,240 | 6,205,289 |
DigitalGlobe, Inc. * | 99,427 | 2,495,618 |
Douglas Dynamics, Inc. | 35,800 | 1,149,180 |
Ducommun, Inc. * | 15,100 | 287,504 |
DXP Enterprises, Inc. * | 18,300 | 398,757 |
Dycom Industries, Inc. * | 47,757 | 3,673,946 |
Dynamic Materials Corp. | 22,100 | 239,785 |
EMCOR Group, Inc. | 95,397 | 5,767,703 |
Encore Wire Corp. | 32,995 | 1,126,779 |
Energous Corp. *(b) | 23,500 | 320,305 |
Energy Recovery, Inc. * | 53,600 | 654,456 |
EnerSys | 67,874 | 4,420,634 |
Engility Holdings, Inc. * | 28,234 | 811,163 |
EnPro Industries, Inc. | 34,800 | 1,883,376 |
ESCO Technologies, Inc. | 41,169 | 1,834,079 |
Esterline Technologies Corp. * | 47,342 | 3,477,270 |
Federal Signal Corp. | 94,400 | 1,159,232 |
Franklin Electric Co., Inc. | 71,836 | 2,618,422 |
FreightCar America, Inc. | 17,700 | 231,162 |
FuelCell Energy, Inc. *(b) | 54,483 | 182,518 |
GATX Corp. | 62,600 | 2,740,002 |
Gencor Industries, Inc. * | 11,550 | 139,755 |
Generac Holdings, Inc. * | 101,425 | 3,863,278 |
General Cable Corp. | 72,476 | 1,014,664 |
Gibraltar Industries, Inc. * | 50,000 | 1,945,000 |
Global Brass & Copper Holdings, Inc. | 31,300 | 898,310 |
GMS, Inc. * | 11,500 | 238,970 |
Graham Corp. | 15,200 | 271,320 |
Granite Construction, Inc. | 62,300 | 3,062,668 |
Great Lakes Dredge & Dock Corp. * | 85,200 | 302,460 |
Griffon Corp. | 48,800 | 814,960 |
H&E Equipment Services, Inc. | 46,100 | 643,095 |
Hardinge, Inc. | 18,000 | 174,600 |
Harsco Corp. | 118,500 | 1,155,375 |
HC2 Holdings, Inc. * | 52,000 | 206,960 |
Hillenbrand, Inc. | 91,500 | 2,777,025 |
Hurco Cos., Inc. | 8,600 | 225,320 |
Hyster-Yale Materials Handling, Inc. | 15,554 | 905,398 |
IES Holdings, Inc. * | 12,900 | 192,855 |
Security | Number of Shares | Value ($) |
Insteel Industries, Inc. | 28,500 | 766,650 |
John Bean Technologies Corp. | 45,033 | 3,595,885 |
Joy Global, Inc. | 152,400 | 4,241,292 |
Kadant, Inc. | 16,500 | 852,225 |
Kaman Corp. | 42,755 | 1,866,683 |
Kennametal, Inc. | 121,500 | 3,439,665 |
KLX, Inc. * | 84,594 | 2,911,725 |
Kratos Defense & Security Solutions, Inc. * | 82,600 | 464,212 |
Lawson Products, Inc. * | 8,000 | 150,800 |
Layne Christensen Co. * | 30,400 | 260,528 |
Lindsay Corp. | 15,866 | 1,242,308 |
LSI Industries, Inc. | 34,500 | 296,700 |
Lydall, Inc. * | 26,600 | 1,243,550 |
Masonite International Corp. * | 46,400 | 2,640,160 |
MasTec, Inc. * | 104,573 | 2,985,559 |
Mercury Systems, Inc. * | 59,901 | 1,664,050 |
Meritor, Inc. * | 127,538 | 1,311,091 |
Milacron Holdings Corp. * | 24,000 | 349,440 |
Miller Industries, Inc. | 15,800 | 346,810 |
Moog, Inc., Class A * | 49,657 | 2,883,582 |
MRC Global, Inc. * | 145,978 | 2,151,716 |
Mueller Industries, Inc. | 86,669 | 2,625,204 |
Mueller Water Products, Inc., Class A | 255,200 | 3,144,064 |
MYR Group, Inc. * | 27,700 | 826,568 |
National Presto Industries, Inc. | 7,100 | 619,475 |
Navistar International Corp. * | 75,707 | 1,688,266 |
NCI Building Systems, Inc. * | 41,200 | 593,280 |
Neff Corp., Class A * | 22,700 | 205,435 |
NN, Inc. | 39,117 | 690,415 |
NOW, Inc. * | 165,100 | 3,559,556 |
NV5 Global, Inc. * | 13,100 | 374,660 |
Omega Flex, Inc. | 5,672 | 215,706 |
Orion Group Holdings, Inc. * | 36,200 | 292,496 |
Patrick Industries, Inc. * | 22,900 | 1,313,315 |
PGT, Inc. * | 76,600 | 750,680 |
Plug Power, Inc. *(b) | 324,000 | 495,720 |
Ply Gem Holdings, Inc. * | 32,400 | 443,880 |
Powell Industries, Inc. | 13,000 | 460,070 |
Power Solutions International, Inc. * | 7,000 | 66,850 |
Preformed Line Products Co. | 3,300 | 141,966 |
Primoris Services Corp. | 62,900 | 1,259,887 |
Proto Labs, Inc. * | 37,900 | 1,694,130 |
Quanex Building Products Corp. | 53,204 | 867,225 |
Raven Industries, Inc. | 56,600 | 1,214,070 |
RBC Bearings, Inc. * | 36,800 | 2,625,680 |
Rexnord Corp. * | 129,050 | 2,566,804 |
Rush Enterprises, Inc., Class A * | 45,387 | 1,191,409 |
Rush Enterprises, Inc., Class B * | 15,200 | 386,080 |
Simpson Manufacturing Co., Inc. | 64,094 | 2,743,223 |
SiteOne Landscape Supply, Inc. * | 18,300 | 570,594 |
Sparton Corp. * | 14,600 | 349,378 |
SPX Corp. * | 64,200 | 1,220,442 |
SPX FLOW, Inc. * | 54,200 | 1,359,878 |
Standex International Corp. | 19,900 | 1,520,360 |
Sun Hydraulics Corp. | 37,150 | 1,093,324 |
Sunrun, Inc. *(b) | 97,700 | 509,017 |
Supreme Industries, Inc., Class A | 20,100 | 245,019 |
TASER International, Inc. * | 82,500 | 1,846,350 |
Teledyne Technologies, Inc. * | 54,026 | 5,817,520 |
Tennant Co. | 28,576 | 1,798,859 |
Textainer Group Holdings Ltd. | 36,731 | 279,156 |
The ExOne Co. *(b) | 14,600 | 174,178 |
The Gorman-Rupp Co. | 29,031 | 697,325 |
The Greenbrier Cos., Inc. (b) | 40,601 | 1,278,931 |
The KEYW Holding Corp. * | 60,000 | 629,400 |
The Manitowoc Co., Inc. | 195,300 | 789,012 |
Thermon Group Holdings, Inc. * | 46,800 | 857,844 |
Titan International, Inc. | 64,600 | 658,274 |
Security | Number of Shares | Value ($) |
Titan Machinery, Inc. * | 23,200 | 215,528 |
TPI Composites, Inc. * | 10,400 | 165,568 |
Trex Co., Inc. * | 45,578 | 2,452,552 |
TriMas Corp. * | 73,700 | 1,322,915 |
Triton International Ltd. | 64,100 | 773,687 |
Triumph Group, Inc. | 76,300 | 1,808,310 |
Tutor Perini Corp. * | 55,030 | 1,048,322 |
Univar, Inc. * | 68,600 | 1,526,350 |
Universal Forest Products, Inc. | 30,562 | 2,628,026 |
Vectrus, Inc. * | 17,747 | 297,617 |
Veritiv Corp. * | 13,476 | 727,030 |
Vicor Corp. * | 26,200 | 334,050 |
Wabash National Corp. * | 101,900 | 1,146,375 |
Watts Water Technologies, Inc., Class A | 42,811 | 2,568,660 |
Wesco Aircraft Holdings, Inc. * | 93,300 | 1,198,905 |
Willis Lease Finance Corp. * | 6,500 | 172,965 |
Woodward, Inc. | 82,058 | 4,839,781 |
230,590,870 | ||
Commercial & Professional Supplies 3.7% | ||
ABM Industries, Inc. | 86,509 | 3,380,772 |
Acacia Research Corp. | 72,500 | 424,125 |
ACCO Brands Corp. * | 170,185 | 1,889,053 |
Aqua Metals, Inc. *(b) | 17,400 | 155,730 |
ARC Document Solutions, Inc. * | 64,500 | 221,235 |
Barrett Business Services, Inc. | 10,200 | 457,266 |
Brady Corp., Class A | 73,029 | 2,417,260 |
Casella Waste Systems, Inc., Class A * | 57,800 | 647,360 |
CBIZ, Inc. * | 76,500 | 845,325 |
CEB, Inc. | 48,953 | 2,381,563 |
CECO Environmental Corp. | 50,352 | 498,485 |
Cogint, Inc. *(b) | 24,100 | 91,580 |
CRA International, Inc. * | 14,500 | 451,530 |
Deluxe Corp. | 75,272 | 4,606,646 |
Ennis, Inc. | 38,200 | 559,630 |
Essendant, Inc. | 57,734 | 886,217 |
Exponent, Inc. | 40,800 | 2,335,800 |
Franklin Covey Co. * | 17,900 | 327,570 |
FTI Consulting, Inc. * | 64,200 | 2,501,232 |
G&K Services, Inc., Class A | 29,630 | 2,805,961 |
GP Strategies Corp. * | 20,376 | 526,720 |
Healthcare Services Group, Inc. | 108,952 | 4,027,955 |
Heidrick & Struggles International, Inc. | 29,800 | 551,300 |
Heritage-Crystal Clean, Inc. * | 16,900 | 221,390 |
Herman Miller, Inc. | 93,600 | 2,602,080 |
Hill International, Inc. * | 50,500 | 194,425 |
HNI Corp. | 69,189 | 2,813,225 |
Huron Consulting Group, Inc. * | 35,052 | 1,964,665 |
ICF International, Inc. * | 27,800 | 1,289,920 |
InnerWorkings, Inc. * | 60,300 | 531,243 |
Insperity, Inc. | 24,626 | 1,851,875 |
Interface, Inc. | 104,500 | 1,656,325 |
Kelly Services, Inc., Class A | 47,323 | 886,360 |
Kforce, Inc. | 39,800 | 690,530 |
Kimball International, Inc., Class B | 58,299 | 728,738 |
Knoll, Inc. | 73,803 | 1,597,097 |
Korn/Ferry International | 86,761 | 1,769,057 |
Matthews International Corp., Class A | 50,559 | 3,028,484 |
McGrath RentCorp | 38,235 | 1,150,873 |
Mistras Group, Inc. * | 26,414 | 553,109 |
Mobile Mini, Inc. | 67,768 | 1,717,919 |
MSA Safety, Inc. | 47,389 | 2,762,779 |
Multi-Color Corp. | 20,400 | 1,324,470 |
Navigant Consulting, Inc. * | 70,048 | 1,639,123 |
On Assignment, Inc. * | 79,539 | 2,736,937 |
Quad Graphics, Inc. | 46,500 | 1,104,840 |
Resources Connection, Inc. | 61,350 | 911,048 |
Security | Number of Shares | Value ($) |
RPX Corp. * | 75,700 | 738,832 |
SP Plus Corp. * | 26,500 | 667,800 |
Steelcase, Inc., Class A | 143,542 | 1,916,286 |
Team, Inc. * | 46,613 | 1,433,350 |
Tetra Tech, Inc. | 88,661 | 3,409,015 |
The Advisory Board Co. * | 65,638 | 2,612,392 |
The Brink's Co. | 69,500 | 2,748,725 |
TRC Cos., Inc. * | 27,863 | 227,083 |
TriNet Group, Inc. * | 66,046 | 1,239,683 |
TrueBlue, Inc. * | 66,476 | 1,163,330 |
UniFirst Corp. | 24,306 | 2,977,485 |
US Ecology, Inc. | 34,000 | 1,436,500 |
Viad Corp. | 30,396 | 1,261,434 |
VSE Corp. | 14,800 | 426,832 |
WageWorks, Inc. * | 57,400 | 3,383,730 |
West Corp. | 68,258 | 1,346,048 |
95,705,352 | ||
Consumer Durables & Apparel 2.4% | ||
Arctic Cat, Inc. | 18,800 | 281,812 |
Bassett Furniture Industries, Inc. | 14,909 | 342,162 |
Beazer Homes USA, Inc. * | 47,640 | 487,357 |
Callaway Golf Co. | 139,869 | 1,428,062 |
Cavco Industries, Inc. * | 13,000 | 1,201,200 |
Century Communities, Inc. * | 20,152 | 396,994 |
Columbia Sportswear Co. | 42,300 | 2,395,872 |
Crocs, Inc. * | 115,400 | 887,426 |
CSS Industries, Inc. | 13,400 | 336,340 |
Culp, Inc. | 16,000 | 448,000 |
Deckers Outdoor Corp. * | 51,571 | 2,691,491 |
Delta Apparel, Inc. * | 11,000 | 181,500 |
Escalade, Inc. | 14,500 | 176,175 |
Ethan Allen Interiors, Inc. | 38,179 | 1,172,095 |
Flexsteel Industries, Inc. | 10,100 | 423,190 |
Fossil Group, Inc. * | 64,400 | 1,756,188 |
G-III Apparel Group Ltd. * | 66,310 | 1,732,017 |
GoPro, Inc., Class A *(b) | 155,800 | 1,991,124 |
Green Brick Partners, Inc. * | 35,840 | 274,176 |
Helen of Troy Ltd. * | 45,283 | 3,690,565 |
Hooker Furniture Corp. | 18,434 | 484,814 |
Hovnanian Enterprises, Inc., Class A * | 161,300 | 251,628 |
Iconix Brand Group, Inc. * | 70,800 | 557,904 |
Installed Building Products, Inc. * | 30,971 | 1,023,592 |
iRobot Corp. * | 41,945 | 2,126,612 |
JAKKS Pacific, Inc. *(b) | 36,400 | 243,880 |
Johnson Outdoors, Inc., Class A | 8,500 | 305,830 |
KB Home | 125,700 | 1,827,678 |
La-Z-Boy, Inc. | 78,200 | 1,829,880 |
LGI Homes, Inc. *(b) | 25,200 | 749,952 |
Libbey, Inc. | 34,479 | 552,009 |
Lifetime Brands, Inc. | 12,400 | 175,460 |
M.D.C. Holdings, Inc. | 58,293 | 1,382,127 |
M/I Homes, Inc. * | 41,000 | 881,910 |
Malibu Boats, Inc., Class A * | 25,461 | 373,513 |
Marine Products Corp. | 13,700 | 128,095 |
MCBC Holdings, Inc. | 15,200 | 169,328 |
Meritage Homes Corp. * | 59,985 | 1,856,536 |
Movado Group, Inc. | 23,100 | 509,355 |
NACCO Industries, Inc., Class A | 5,477 | 400,643 |
Nautilus, Inc. * | 50,200 | 883,520 |
Oxford Industries, Inc. | 25,196 | 1,580,293 |
Performance Sports Group Ltd. *(b)(f) | 68,769 | 119,658 |
Perry Ellis International, Inc. * | 16,800 | 312,312 |
Sequential Brands Group, Inc. *(b) | 60,752 | 437,414 |
Smith & Wesson Holding Corp. * | 85,500 | 2,259,765 |
Steven Madden Ltd. * | 94,376 | 3,152,158 |
Sturm, Ruger & Co., Inc. | 29,200 | 1,795,800 |
Security | Number of Shares | Value ($) |
Superior Uniform Group, Inc. | 9,527 | 169,485 |
Taylor Morrison Home Corp., Class A * | 50,000 | 853,000 |
The New Home Co., Inc. * | 16,049 | 160,811 |
TopBuild Corp. * | 59,200 | 1,783,696 |
TRI Pointe Group, Inc. * | 233,500 | 2,528,805 |
UCP, Inc., Class A * | 12,900 | 117,390 |
Unifi, Inc. * | 26,500 | 761,875 |
Universal Electronics, Inc. * | 22,200 | 1,557,330 |
Vera Bradley, Inc. * | 31,500 | 421,155 |
Vince Holding Corp. * | 46,214 | 251,866 |
WCI Communities, Inc. * | 32,500 | 752,375 |
William Lyon Homes, Class A * | 39,800 | 710,828 |
Wolverine World Wide, Inc. | 157,147 | 3,355,088 |
ZAGG, Inc. * | 39,621 | 257,537 |
62,346,653 | ||
Consumer Services 4.0% | ||
American Public Education, Inc. * | 25,200 | 507,780 |
Apollo Education Group, Inc. * | 131,226 | 1,153,476 |
Ascent Capital Group, Inc., Class A * | 14,700 | 299,586 |
Belmond Ltd., Class A * | 132,400 | 1,714,580 |
Biglari Holdings, Inc. * | 1,710 | 749,288 |
BJ's Restaurants, Inc. * | 37,000 | 1,335,700 |
Bloomin' Brands, Inc. | 178,713 | 3,091,735 |
Bob Evans Farms, Inc. | 29,946 | 1,234,374 |
Bojangles', Inc. * | 19,350 | 286,380 |
Boyd Gaming Corp. * | 130,300 | 2,327,158 |
Bridgepoint Education, Inc. * | 21,200 | 143,312 |
Bright Horizons Family Solutions, Inc. * | 68,121 | 4,557,976 |
Buffalo Wild Wings, Inc. * | 29,279 | 4,264,486 |
Caesars Acquisition Co., Class A * | 78,500 | 914,525 |
Caesars Entertainment Corp. *(b) | 87,400 | 620,540 |
Cambium Learning Group, Inc. * | 18,000 | 93,240 |
Capella Education Co. | 18,500 | 1,352,350 |
Career Education Corp. * | 109,600 | 788,024 |
Carriage Services, Inc. | 21,800 | 515,352 |
Carrols Restaurant Group, Inc. * | 51,700 | 646,250 |
Century Casinos, Inc. * | 32,600 | 206,684 |
Chegg, Inc. * | 125,300 | 833,245 |
Churchill Downs, Inc. | 21,514 | 2,925,904 |
Chuy's Holdings, Inc. * | 23,500 | 667,400 |
ClubCorp Holdings, Inc. | 99,111 | 1,144,732 |
Collectors Universe, Inc. | 10,100 | 189,779 |
Cracker Barrel Old Country Store, Inc. (b) | 29,616 | 4,087,008 |
Dave & Buster's Entertainment, Inc. * | 58,268 | 2,409,382 |
Del Frisco's Restaurant Group, Inc. * | 34,700 | 496,210 |
Del Taco Restaurants, Inc. * | 35,200 | 472,032 |
Denny's Corp. * | 118,900 | 1,232,993 |
DeVry Education Group, Inc. | 101,084 | 2,294,607 |
DineEquity, Inc. | 29,197 | 2,309,483 |
El Pollo Loco Holdings, Inc. *(b) | 31,000 | 378,200 |
Eldorado Resorts, Inc. * | 48,009 | 580,909 |
Empire Resorts, Inc. *(b) | 4,421 | 84,662 |
Fiesta Restaurant Group, Inc. * | 42,500 | 1,122,000 |
Fogo De Chao, Inc. * | 4,700 | 55,695 |
Golden Entertainment, Inc. | 15,300 | 175,338 |
Grand Canyon Education, Inc. * | 69,675 | 3,040,617 |
Houghton Mifflin Harcourt Co. * | 188,494 | 2,384,449 |
ILG, Inc. | 173,900 | 2,848,482 |
International Speedway Corp., Class A | 43,500 | 1,431,150 |
Intrawest Resorts Holdings, Inc. * | 23,900 | 392,199 |
Isle of Capri Casinos, Inc. * | 37,100 | 779,100 |
J Alexander's Holdings, Inc. * | 21,043 | 189,387 |
Jack in the Box, Inc. | 51,508 | 4,827,845 |
Jamba, Inc. *(b) | 20,260 | 213,743 |
K12, Inc. * | 49,849 | 540,363 |
Kona Grill, Inc. * | 17,119 | 184,029 |
Security | Number of Shares | Value ($) |
La Quinta Holdings, Inc. * | 133,502 | 1,336,355 |
Liberty Tax, Inc. | 11,700 | 138,645 |
LifeLock, Inc. * | 131,767 | 2,121,449 |
Lindblad Expeditions Holdings, Inc. * | 22,700 | 185,913 |
Luby's, Inc. * | 27,700 | 116,063 |
Marriott Vacations Worldwide Corp. | 35,885 | 2,281,568 |
Monarch Casino & Resort, Inc. * | 17,800 | 420,970 |
Nathan's Famous, Inc. * | 4,700 | 250,510 |
Noodles & Co. *(b) | 15,900 | 74,730 |
Papa John's International, Inc. | 42,211 | 3,184,820 |
Penn National Gaming, Inc. * | 117,300 | 1,516,689 |
Pinnacle Entertainment, Inc. * | 89,247 | 1,057,577 |
Planet Fitness, Inc., Class A * | 34,200 | 725,040 |
Popeyes Louisiana Kitchen, Inc. * | 33,400 | 1,782,892 |
Potbelly Corp. * | 34,100 | 445,005 |
Red Lion Hotels Corp. * | 22,200 | 186,480 |
Red Robin Gourmet Burgers, Inc. * | 21,700 | 998,200 |
Red Rock Resorts, Inc., Class A | 45,300 | 992,070 |
Regis Corp. * | 58,100 | 736,708 |
Ruby Tuesday, Inc. * | 87,200 | 258,984 |
Ruth's Hospitality Group, Inc. | 56,600 | 897,110 |
Scientific Games Corp., Class A * | 77,100 | 956,040 |
SeaWorld Entertainment, Inc. | 103,823 | 1,454,560 |
Shake Shack, Inc., Class A *(b) | 24,200 | 771,738 |
Sonic Corp. | 73,401 | 1,681,617 |
Sotheby's | 76,500 | 2,744,820 |
Speedway Motorsports, Inc. | 15,784 | 296,897 |
Strayer Education, Inc. * | 16,400 | 962,024 |
Texas Roadhouse, Inc. | 102,596 | 4,157,190 |
The Cheesecake Factory, Inc. | 71,067 | 3,780,054 |
The Habit Restaurants, Inc., Class A * | 16,111 | 227,971 |
The Marcus Corp. | 27,300 | 723,450 |
Weight Watchers International, Inc. *(b) | 40,600 | 417,368 |
Wingstop, Inc. | 24,300 | 650,268 |
Zoe's Kitchen, Inc. * | 30,502 | 691,480 |
104,316,994 | ||
Diversified Financials 3.2% | ||
AG Mortgage Investment Trust, Inc. | 41,300 | 641,389 |
Altisource Residential Corp. | 87,800 | 884,146 |
Anworth Mortgage Asset Corp. | 149,900 | 736,009 |
Apollo Commercial Real Estate Finance, Inc. | 108,943 | 1,843,316 |
Ares Commercial Real Estate Corp. | 41,900 | 549,728 |
Arlington Asset Investment Corp., Class A | 33,300 | 475,524 |
ARMOUR Residential REIT, Inc. | 57,729 | 1,308,716 |
Associated Capital Group, Inc., Class A | 9,700 | 329,315 |
B. Riley Financial, Inc. | 13,500 | 172,800 |
BBX Capital Corp., Class A * | 2,100 | 42,756 |
BGC Partners, Inc., Class A | 344,000 | 2,954,960 |
Calamos Asset Management, Inc., Class A | 24,400 | 157,624 |
Capstead Mortgage Corp. | 145,829 | 1,386,834 |
Cohen & Steers, Inc. | 31,528 | 1,172,211 |
Colony Capital, Inc., Class A | 175,026 | 3,327,244 |
Cowen Group, Inc., Class A * | 169,900 | 552,175 |
CYS Investments, Inc. | 246,361 | 2,123,632 |
Diamond Hill Investment Group, Inc. | 4,700 | 855,447 |
Dynex Capital, Inc. | 77,200 | 530,364 |
Encore Capital Group, Inc. *(b) | 37,400 | 742,390 |
Enova International, Inc. * | 44,836 | 421,458 |
Evercore Partners, Inc., Class A | 62,600 | 3,364,750 |
EZCORP, Inc., Class A * | 77,400 | 754,650 |
FBR & Co. | 8,200 | 113,980 |
Financial Engines, Inc. | 84,300 | 2,330,895 |
FirstCash, Inc. | 73,227 | 3,456,314 |
FNFV Group * | 109,836 | 1,323,524 |
GAIN Capital Holdings, Inc. | 50,700 | 233,220 |
Security | Number of Shares | Value ($) |
GAMCO Investors, Inc., Class A | 9,700 | 275,577 |
Great Ajax Corp. | 19,800 | 274,428 |
Green Dot Corp., Class A * | 69,341 | 1,539,370 |
Greenhill & Co., Inc. | 48,029 | 1,126,280 |
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 60,845 | 1,390,917 |
Hennessy Advisors, Inc. | 4,400 | 127,072 |
Houlihan Lokey, Inc. | 20,100 | 489,837 |
INTL. FCStone, Inc. * | 25,100 | 901,090 |
Invesco Mortgage Capital, Inc. | 177,906 | 2,656,137 |
Investment Technology Group, Inc. | 50,565 | 774,150 |
Janus Capital Group, Inc. | 228,253 | 2,926,204 |
KCG Holdings, Inc., Class A * | 77,581 | 989,934 |
Ladder Capital Corp. | 57,222 | 725,575 |
Ladenburg Thalmann Financial Services, Inc. * | 142,600 | 290,904 |
LendingClub Corp. * | 506,900 | 2,499,017 |
Manning & Napier, Inc. | 22,200 | 153,180 |
Marlin Business Services Corp. | 11,600 | 203,000 |
Medley Management, Inc., Class A | 14,400 | 127,440 |
Moelis & Co., Class A | 25,024 | 635,610 |
MTGE Investment Corp. | 76,700 | 1,307,735 |
Nelnet, Inc., Class A | 29,800 | 1,167,564 |
New Residential Investment Corp. | 374,797 | 5,232,166 |
New York Mortgage Trust, Inc. | 175,200 | 1,035,432 |
NewStar Financial, Inc. * | 36,500 | 355,145 |
OM Asset Management plc | 59,100 | 831,537 |
On Deck Capital, Inc. * | 74,200 | 362,838 |
Oppenheimer Holdings, Inc., Class A | 13,800 | 193,200 |
Orchid Island Capital, Inc. (b) | 36,959 | 389,178 |
Owens Realty Mortgage, Inc. | 14,500 | 264,625 |
PennyMac Mortgage Investment Trust | 109,621 | 1,668,432 |
PICO Holdings, Inc. * | 39,800 | 481,580 |
Piper Jaffray Cos. * | 23,729 | 1,341,875 |
PJT Partners, Inc., Class A | 26,900 | 740,826 |
PRA Group, Inc. * | 72,581 | 2,315,334 |
Pzena Investment Management, Inc., Class A | 13,700 | 99,736 |
Redwood Trust, Inc. | 126,500 | 1,778,590 |
Regional Management Corp. * | 15,700 | 349,639 |
Resource Capital Corp. | 49,037 | 607,568 |
Safeguard Scientifics, Inc. * | 36,500 | 430,700 |
Silvercrest Asset Management Group, Inc., Class A | 9,800 | 113,190 |
Stifel Financial Corp. * | 102,310 | 4,004,413 |
Tiptree Financial, Inc., Class A | 55,800 | 323,640 |
Virtu Financial, Inc., Class A | 38,271 | 489,869 |
Virtus Investment Partners, Inc. | 8,900 | 954,970 |
Waddell & Reed Financial, Inc., Class A | 120,900 | 1,900,548 |
Western Asset Mortgage Capital Corp. | 61,056 | 618,497 |
Westwood Holdings Group, Inc. | 11,500 | 592,825 |
WisdomTree Investments, Inc. (b) | 174,900 | 1,500,642 |
World Acceptance Corp. * | 8,900 | 422,928 |
82,766,315 | ||
Energy 3.2% | ||
Abraxas Petroleum Corp. * | 221,800 | 359,316 |
Adams Resources & Energy, Inc. | 2,900 | 105,966 |
Alon USA Energy, Inc. | 48,900 | 394,134 |
Archrock, Inc. | 107,428 | 1,246,165 |
Ardmore Shipping Corp. | 46,500 | 272,025 |
Atwood Oceanics, Inc. | 90,921 | 693,727 |
Bill Barrett Corp. * | 75,298 | 390,797 |
Bristow Group, Inc. | 56,862 | 569,189 |
California Resources Corp. (b) | 49,100 | 503,766 |
Callon Petroleum Co. * | 227,100 | 2,950,029 |
CARBO Ceramics, Inc. | 29,300 | 178,730 |
Security | Number of Shares | Value ($) |
Carrizo Oil & Gas, Inc. * | 88,611 | 2,997,710 |
Clayton Williams Energy, Inc. * | 8,600 | 750,866 |
Clean Energy Fuels Corp. * | 138,838 | 570,624 |
Cobalt International Energy, Inc. * | 634,300 | 598,843 |
Contango Oil & Gas Co. * | 39,820 | 311,790 |
CVR Energy, Inc. (b) | 24,500 | 324,870 |
Dawson Geophysical Co. * | 32,400 | 212,220 |
Delek US Holdings, Inc. | 97,187 | 1,642,460 |
Denbury Resources, Inc. * | 544,100 | 1,300,399 |
DHT Holdings, Inc. | 135,900 | 553,113 |
Dorian LPG Ltd. * | 42,703 | 240,418 |
Eclipse Resources Corp. * | 105,000 | 287,700 |
EP Energy Corp., Class A *(b) | 60,500 | 215,380 |
Era Group, Inc. * | 28,700 | 216,685 |
Evolution Petroleum Corp. | 30,500 | 234,850 |
EXCO Resources, Inc. *(b) | 222,774 | 240,596 |
Exterran Corp. * | 53,714 | 849,218 |
Fairmount Santrol Holdings, Inc. *(b) | 124,653 | 1,070,769 |
Forum Energy Technologies, Inc. * | 94,955 | 1,709,190 |
Frontline Ltd. (b) | 100,863 | 723,188 |
GasLog Ltd. | 61,800 | 948,630 |
Gener8 Maritime, Inc. * | 60,600 | 255,732 |
Geospace Technologies Corp. * | 19,800 | 364,914 |
Golar LNG Ltd. | 137,500 | 3,009,875 |
Green Plains, Inc. | 55,100 | 1,432,600 |
Helix Energy Solutions Group, Inc. * | 175,307 | 1,528,677 |
Hornbeck Offshore Services, Inc. * | 54,245 | 215,353 |
Independence Contract Drilling, Inc. * | 46,000 | 183,080 |
Isramco, Inc. * | 1,400 | 134,400 |
Jones Energy, Inc., Class A *(b) | 95,439 | 391,300 |
Matador Resources Co. * | 129,562 | 2,825,747 |
Matrix Service Co. * | 39,700 | 702,690 |
McDermott International, Inc. * | 382,385 | 1,965,459 |
Natural Gas Services Group, Inc. * | 20,500 | 444,850 |
Navios Maritime Acquisition Corp. | 120,600 | 153,162 |
Newpark Resources, Inc. * | 126,710 | 798,273 |
Nordic American Tankers Ltd. (b) | 153,100 | 1,250,827 |
Northern Oil & Gas, Inc. *(b) | 77,600 | 162,960 |
Oasis Petroleum, Inc. * | 362,710 | 3,804,828 |
Oil States International, Inc. * | 77,800 | 2,275,650 |
Overseas Shipholding Group, Inc., Class A | 55,200 | 483,552 |
Pacific Ethanol, Inc. * | 54,600 | 406,770 |
Panhandle Oil & Gas, Inc., Class A | 24,200 | 435,600 |
Par Pacific Holdings, Inc. * | 43,638 | 555,948 |
Parker Drilling Co. * | 181,265 | 362,530 |
PDC Energy, Inc. * | 87,703 | 5,378,825 |
PHI, Inc. - Non Voting Shares * | 19,572 | 304,932 |
Pioneer Energy Services Corp. * | 91,500 | 324,825 |
Renewable Energy Group, Inc. * | 64,600 | 565,250 |
REX American Resources Corp. * | 8,500 | 671,415 |
RigNet, Inc. * | 16,900 | 253,500 |
Ring Energy, Inc. * | 56,200 | 518,726 |
RSP Permian, Inc. * | 152,825 | 5,516,982 |
Sanchez Energy Corp. * | 91,353 | 581,919 |
Scorpio Tankers, Inc. | 268,102 | 1,026,831 |
SEACOR Holdings, Inc. * | 25,700 | 1,267,267 |
Seadrill Ltd. *(b) | 586,200 | 1,248,606 |
SemGroup Corp., Class A | 102,903 | 3,318,622 |
Ship Finance International Ltd. (b) | 93,500 | 1,182,775 |
Synergy Resources Corp. * | 295,412 | 2,020,618 |
Teekay Corp. | 69,000 | 450,570 |
Teekay Tankers Ltd., Class A | 181,000 | 385,530 |
Tesco Corp. | 77,100 | 528,135 |
TETRA Technologies, Inc. * | 142,774 | 778,118 |
Tidewater, Inc. | 69,195 | 119,707 |
Unit Corp. * | 80,078 | 1,371,736 |
US Silica Holdings, Inc. | 99,900 | 4,614,381 |
W&T Offshore, Inc. *(b) | 49,000 | 71,050 |
Security | Number of Shares | Value ($) |
Western Refining, Inc. | 124,142 | 3,581,497 |
Westmoreland Coal Co. * | 27,052 | 240,222 |
Willbros Group, Inc. * | 69,500 | 105,640 |
84,235,819 | ||
Food & Staples Retailing 0.6% | ||
Ingles Markets, Inc., Class A | 21,231 | 838,625 |
Natural Grocers by Vitamin Cottage, Inc. * | 12,600 | 149,688 |
Performance Food Group Co. * | 57,600 | 1,382,400 |
PriceSmart, Inc. | 31,400 | 2,855,830 |
Smart & Final Stores, Inc. * | 37,600 | 451,200 |
SpartanNash, Co. | 57,833 | 1,619,324 |
SUPERVALU, Inc. * | 398,636 | 1,710,148 |
The Andersons, Inc. | 43,223 | 1,644,635 |
The Chefs' Warehouse, Inc. * | 28,300 | 322,620 |
United Natural Foods, Inc. * | 76,082 | 3,175,663 |
Village Super Market, Inc., Class A | 11,600 | 346,840 |
Weis Markets, Inc. | 15,800 | 878,954 |
15,375,927 | ||
Food, Beverage & Tobacco 1.9% | ||
AdvancePierre Foods Holdings, Inc. | 34,300 | 959,028 |
Alico, Inc. | 4,700 | 122,905 |
Alliance One International, Inc. * | 13,400 | 198,990 |
Amplify Snack Brands, Inc. * | 45,700 | 662,193 |
B&G Foods, Inc. | 101,757 | 4,314,497 |
Cal-Maine Foods, Inc. (b) | 47,616 | 1,840,358 |
Calavo Growers, Inc. | 23,588 | 1,395,230 |
Coca-Cola Bottling Co. Consolidated | 7,500 | 1,059,750 |
Craft Brew Alliance, Inc. * | 18,000 | 288,900 |
Darling Ingredients, Inc. * | 259,100 | 3,523,760 |
Dean Foods Co. | 143,200 | 2,614,832 |
Farmer Brothers Co. * | 13,700 | 447,990 |
Fresh Del Monte Produce, Inc. | 49,861 | 3,009,111 |
Freshpet, Inc. * | 34,850 | 296,225 |
Inventure Foods, Inc. * | 29,000 | 245,340 |
J&J Snack Foods Corp. | 22,781 | 2,782,699 |
John B. Sanfilippo & Son, Inc. | 13,100 | 663,908 |
Lancaster Colony Corp. | 29,656 | 3,874,556 |
Landec Corp. * | 44,654 | 591,666 |
Lifeway Foods, Inc. * | 10,100 | 180,588 |
Limoneira Co. (b) | 17,600 | 346,544 |
MGP Ingredients, Inc. | 19,647 | 691,771 |
National Beverage Corp. * | 18,601 | 878,711 |
Omega Protein Corp. * | 33,400 | 744,820 |
Primo Water Corp. * | 33,600 | 439,824 |
Sanderson Farms, Inc. | 31,143 | 2,802,247 |
Seaboard Corp. * | 420 | 1,421,700 |
Seneca Foods Corp., Class A * | 12,400 | 364,560 |
Snyder's-Lance, Inc. | 127,610 | 4,539,088 |
The Boston Beer Co., Inc., Class A * | 14,200 | 2,204,550 |
Tootsie Roll Industries, Inc. (b) | 26,053 | 923,579 |
Turning Point Brands, Inc. * | 9,200 | 113,620 |
Universal Corp. | 34,724 | 1,882,041 |
Vector Group Ltd. | 143,243 | 2,999,509 |
49,425,090 | ||
Health Care Equipment & Services 5.8% | ||
AAC Holdings, Inc. *(b) | 11,800 | 193,402 |
Abaxis, Inc. | 34,300 | 1,637,482 |
Accuray, Inc. * | 112,000 | 548,800 |
Aceto Corp. | 46,000 | 843,180 |
Addus HomeCare Corp. * | 12,500 | 316,250 |
Adeptus Health, Inc., Class A *(b) | 22,300 | 671,676 |
Air Methods Corp. * | 54,300 | 1,436,235 |
Security | Number of Shares | Value ($) |
Almost Family, Inc. * | 11,000 | 431,750 |
Amedisys, Inc. * | 43,900 | 1,899,114 |
American Renal Associates Holdings, Inc. * | 13,500 | 238,410 |
AMN Healthcare Services, Inc. * | 71,400 | 2,341,920 |
Analogic Corp. | 19,654 | 1,608,680 |
AngioDynamics, Inc. * | 41,100 | 655,134 |
Anika Therapeutics, Inc. * | 21,900 | 971,484 |
AtriCure, Inc. * | 46,100 | 840,864 |
Atrion Corp. | 2,300 | 1,010,045 |
Avinger, Inc. *(b) | 17,500 | 61,250 |
AxoGen, Inc. * | 38,300 | 338,955 |
BioScrip, Inc. * | 170,400 | 458,376 |
BioTelemetry, Inc. * | 38,700 | 684,990 |
Cantel Medical Corp. | 55,045 | 3,920,855 |
Capital Senior Living Corp. * | 44,800 | 715,456 |
Cardiovascular Systems, Inc. * | 51,700 | 1,211,331 |
Castlight Health, Inc., Class B * | 76,373 | 332,223 |
Cerus Corp. * | 160,500 | 773,610 |
Chemed Corp. | 26,398 | 3,733,205 |
Civitas Solutions, Inc. * | 23,800 | 406,980 |
Community Health Systems, Inc. * | 169,800 | 896,544 |
Computer Programs & Systems, Inc. (b) | 17,500 | 456,750 |
ConforMIS, Inc. *(b) | 56,000 | 427,280 |
CONMED Corp. | 43,000 | 1,720,000 |
Corindus Vascular Robotics, Inc. *(b) | 84,000 | 64,697 |
CorVel Corp. * | 14,500 | 500,975 |
Cotiviti Holdings, Inc. * | 19,000 | 586,530 |
Cross Country Healthcare, Inc. * | 49,215 | 549,732 |
CryoLife, Inc. | 47,300 | 804,100 |
Cutera, Inc. * | 18,705 | 245,035 |
Cynosure, Inc., Class A * | 37,644 | 1,605,517 |
Diplomat Pharmacy, Inc. * | 70,588 | 1,635,524 |
Endologix, Inc. * | 124,837 | 1,305,795 |
Entellus Medical, Inc. * | 9,800 | 200,410 |
Evolent Health, Inc., Class A * | 27,400 | 576,770 |
Exactech, Inc. * | 15,200 | 367,080 |
Genesis Healthcare, Inc. * | 48,100 | 126,022 |
GenMark Diagnostics, Inc. * | 61,000 | 650,870 |
Glaukos Corp. * | 25,900 | 865,060 |
Globus Medical, Inc., Class A * | 110,500 | 2,445,365 |
Haemonetics Corp. * | 79,900 | 2,669,459 |
Halyard Health, Inc. * | 73,793 | 2,387,203 |
HealthEquity, Inc. * | 66,834 | 2,220,894 |
HealthSouth Corp. | 137,000 | 5,500,550 |
HealthStream, Inc. * | 41,900 | 1,130,043 |
Healthways, Inc. * | 48,800 | 1,210,240 |
HMS Holdings Corp. * | 130,952 | 2,759,159 |
ICU Medical, Inc. * | 22,500 | 3,134,250 |
Inogen, Inc. * | 24,598 | 1,320,175 |
Insulet Corp. * | 88,400 | 3,281,408 |
Integer Holdings Corp. * | 46,900 | 1,034,145 |
Integra LifeSciences Holdings Corp. * | 47,648 | 3,788,492 |
Invacare Corp. | 49,211 | 450,281 |
InVivo Therapeutics Holdings Corp. *(b) | 58,398 | 254,031 |
iRadimed Corp. * | 4,000 | 37,800 |
IRIDEX Corp. * | 12,100 | 163,955 |
K2M Group Holdings, Inc. * | 39,900 | 681,093 |
Kindred Healthcare, Inc. | 124,623 | 1,227,537 |
Landauer, Inc. | 13,300 | 578,550 |
LeMaitre Vascular, Inc. | 22,335 | 467,695 |
LHC Group, Inc. * | 22,700 | 777,929 |
Magellan Health, Inc. * | 39,268 | 2,020,339 |
Masimo Corp. * | 66,100 | 3,635,500 |
Medidata Solutions, Inc. * | 85,200 | 4,088,748 |
Meridian Bioscience, Inc. | 64,350 | 1,058,557 |
Merit Medical Systems, Inc. * | 66,300 | 1,455,285 |
Molina Healthcare, Inc. * | 66,543 | 3,620,605 |
Security | Number of Shares | Value ($) |
NantHealth, Inc. * | 14,800 | 194,324 |
National HealthCare Corp. | 18,188 | 1,176,764 |
National Research Corp., Class A | 12,500 | 191,875 |
Natus Medical, Inc. * | 51,000 | 2,006,850 |
Neogen Corp. * | 56,925 | 2,999,378 |
Nevro Corp. * | 37,064 | 3,406,923 |
Nobilis Health Corp. *(b) | 88,191 | 295,440 |
Novocure Ltd. *(b) | 78,600 | 475,530 |
NuVasive, Inc. * | 76,100 | 4,545,453 |
NxStage Medical, Inc. * | 99,200 | 2,255,808 |
Omnicell, Inc. * | 57,200 | 1,866,150 |
OraSure Technologies, Inc. * | 87,400 | 656,374 |
Orthofix International N.V. * | 28,200 | 1,033,530 |
Owens & Minor, Inc. | 97,200 | 3,154,140 |
Oxford Immunotec Global plc * | 40,500 | 520,830 |
Penumbra, Inc. * | 39,200 | 2,585,240 |
PharMerica Corp. * | 47,100 | 1,120,980 |
Quality Systems, Inc. | 80,100 | 1,032,489 |
Quidel Corp. * | 47,500 | 916,750 |
Quorum Health Corp. * | 46,100 | 186,244 |
RadNet, Inc. * | 48,000 | 333,600 |
Rockwell Medical, Inc. *(b) | 78,700 | 457,247 |
RTI Surgical, Inc. * | 75,200 | 191,760 |
Second Sight Medical Products, Inc. *(b) | 16,421 | 42,859 |
Select Medical Holdings Corp. * | 170,711 | 2,219,243 |
Senseonics Holdings, Inc. * | 45,600 | 106,704 |
STAAR Surgical Co. * | 66,600 | 562,770 |
Surgery Partners, Inc. * | 26,200 | 421,820 |
Surgical Care Affiliates, Inc. * | 41,237 | 1,764,531 |
Surmodics, Inc. * | 20,400 | 507,960 |
Tactile Systems Technology, Inc. * | 7,100 | 126,131 |
Tandem Diabetes Care, Inc. * | 25,400 | 153,670 |
Team Health Holdings, Inc. * | 105,158 | 4,506,020 |
Teladoc, Inc. *(b) | 32,400 | 526,500 |
The Ensign Group, Inc. | 79,500 | 1,468,365 |
The Providence Service Corp. * | 21,100 | 853,811 |
The Spectranetics Corp. * | 68,736 | 1,491,571 |
TransEnterix, Inc. *(b) | 143,700 | 215,550 |
Triple-S Management Corp., Class B * | 38,900 | 804,452 |
U.S. Physical Therapy, Inc. | 19,300 | 1,098,170 |
Universal American Corp. * | 84,202 | 632,357 |
Utah Medical Products, Inc. | 5,200 | 323,180 |
Vascular Solutions, Inc. * | 27,136 | 1,237,402 |
Veracyte, Inc. * | 23,200 | 168,432 |
Vocera Communications, Inc. * | 37,100 | 682,640 |
Wright Medical Group N.V. * | 158,961 | 3,482,835 |
Zeltiq Aesthetics, Inc. * | 55,600 | 1,840,360 |
152,106,648 | ||
Household & Personal Products 0.6% | ||
Avon Products, Inc. | 681,300 | 4,462,515 |
Central Garden & Pet Co. * | 15,400 | 374,528 |
Central Garden & Pet Co., Class A * | 52,500 | 1,225,350 |
HRG Group, Inc. * | 183,000 | 2,752,320 |
Inter Parfums, Inc. | 25,400 | 828,040 |
Lifevantage Corp. * | 21,200 | 173,840 |
Medifast, Inc. | 17,579 | 721,794 |
Natural Health Trends Corp. (b) | 12,400 | 289,292 |
Nature's Sunshine Products, Inc. | 15,000 | 188,250 |
Nutraceutical International Corp. * | 12,300 | 354,240 |
Oil-Dri Corp. of America | 6,887 | 232,505 |
Orchids Paper Products Co. (b) | 15,900 | 407,994 |
Revlon, Inc., Class A * | 18,602 | 632,468 |
Synutra International, Inc. *(b) | 23,200 | 90,480 |
Security | Number of Shares | Value ($) |
USANA Health Sciences, Inc. * | 8,200 | 1,053,700 |
WD-40 Co. | 22,300 | 2,377,737 |
16,165,053 | ||
Insurance 2.3% | ||
Ambac Financial Group, Inc. * | 66,900 | 1,234,305 |
American Equity Investment Life Holding Co. | 138,464 | 2,482,660 |
AMERISAFE, Inc. | 30,735 | 1,708,866 |
Argo Group International Holdings Ltd. | 47,531 | 2,642,724 |
Atlas Financial Holdings, Inc. * | 16,900 | 289,835 |
Baldwin & Lyons, Inc., Class B | 13,000 | 319,800 |
Blue Capital Reinsurance Holdings Ltd. | 9,100 | 161,070 |
Citizens, Inc. *(b) | 80,500 | 626,290 |
CNO Financial Group, Inc. | 277,468 | 4,184,218 |
Crawford & Co., Class B | 20,800 | 234,000 |
Donegal Group, Inc., Class A | 10,400 | 156,520 |
eHealth, Inc. * | 23,600 | 184,788 |
EMC Insurance Group, Inc. | 14,300 | 348,205 |
Employers Holdings, Inc. | 49,800 | 1,561,230 |
Enstar Group Ltd. * | 17,594 | 2,966,348 |
FBL Financial Group, Inc., Class A | 16,468 | 1,042,424 |
Federated National Holding Co. | 20,246 | 362,606 |
Fidelity & Guaranty Life | 19,200 | 424,320 |
Genworth Financial, Inc., Class A * | 776,500 | 3,214,710 |
Global Indemnity plc * | 14,755 | 443,240 |
Greenlight Capital Re Ltd., Class A * | 42,789 | 851,501 |
Hallmark Financial Services, Inc. * | 21,200 | 219,632 |
HCI Group, Inc. | 13,800 | 374,118 |
Heritage Insurance Holdings, Inc. | 40,462 | 477,047 |
Horace Mann Educators Corp. | 63,478 | 2,282,034 |
Independence Holding Co. | 11,248 | 197,402 |
Infinity Property & Casualty Corp. | 18,092 | 1,482,639 |
Investors Title Co. | 2,200 | 211,200 |
James River Group Holdings Ltd. | 21,100 | 794,204 |
Kemper Corp. | 61,814 | 2,321,116 |
Kinsale Capital Group, Inc. | 11,700 | 281,385 |
Maiden Holdings Ltd. | 88,800 | 1,212,120 |
MBIA, Inc. * | 201,084 | 1,548,347 |
National General Holdings Corp. | 73,500 | 1,510,425 |
National Interstate Corp. | 12,498 | 404,935 |
National Western Life Group, Inc., Class A | 3,494 | 752,608 |
OneBeacon Insurance Group Ltd., Class A | 33,400 | 458,916 |
Patriot National, Inc. * | 15,800 | 100,172 |
Primerica, Inc. | 74,800 | 4,091,560 |
RLI Corp. | 58,920 | 3,284,201 |
Safety Insurance Group, Inc. | 22,770 | 1,541,529 |
Selective Insurance Group, Inc. | 88,414 | 3,266,897 |
State Auto Financial Corp. | 24,726 | 566,225 |
State National Cos., Inc. | 46,500 | 475,695 |
Stewart Information Services Corp. | 34,100 | 1,532,795 |
The Navigators Group, Inc. | 16,470 | 1,535,004 |
Third Point Reinsurance Ltd. * | 105,060 | 1,234,455 |
Trupanion, Inc. *(b) | 21,900 | 354,561 |
United Fire Group, Inc. | 32,300 | 1,276,496 |
United Insurance Holdings Corp. | 24,400 | 353,800 |
Universal Insurance Holdings, Inc. | 48,122 | 1,024,999 |
WMIH Corp. * | 313,200 | 657,720 |
61,263,897 | ||
Materials 4.6% | ||
A. Schulman, Inc. | 45,609 | 1,311,259 |
AEP Industries, Inc. | 5,800 | 635,390 |
AgroFresh Solutions, Inc. * | 35,000 | 164,500 |
AK Steel Holding Corp. * | 357,900 | 1,861,080 |
Allegheny Technologies, Inc. (b) | 168,700 | 2,301,068 |
Security | Number of Shares | Value ($) |
American Vanguard Corp. | 42,700 | 649,040 |
Ampco-Pittsburgh Corp. | 14,400 | 155,520 |
Balchem Corp. | 50,600 | 3,840,540 |
Boise Cascade Co. * | 60,800 | 1,170,400 |
Calgon Carbon Corp. | 79,785 | 1,260,603 |
Carpenter Technology Corp. | 71,844 | 2,270,989 |
Century Aluminum Co. * | 73,400 | 536,554 |
Chase Corp. | 10,300 | 704,005 |
Chemtura Corp. * | 100,385 | 3,292,628 |
Clearwater Paper Corp. * | 27,200 | 1,444,320 |
Cliffs Natural Resources, Inc. * | 353,859 | 1,953,302 |
Codexis, Inc. * | 53,500 | 270,175 |
Coeur Mining, Inc. * | 248,313 | 2,776,139 |
Commercial Metals Co. | 175,700 | 2,760,247 |
Deltic Timber Corp. | 16,721 | 939,386 |
Ferro Corp. * | 128,800 | 1,669,248 |
Ferroglobe plc | 108,500 | 1,003,625 |
Flotek Industries, Inc. * | 88,700 | 1,044,886 |
FutureFuel Corp. | 40,400 | 442,784 |
GCP Applied Technologies, Inc. * | 109,400 | 2,827,990 |
Gold Resource Corp. | 81,400 | 462,352 |
Greif, Inc., Class A | 39,794 | 1,864,747 |
Greif, Inc., Class B | 8,700 | 506,775 |
H.B. Fuller Co. | 76,694 | 3,226,516 |
Handy & Harman Ltd. * | 4,800 | 91,920 |
Hawkins, Inc. | 15,500 | 625,425 |
Haynes International, Inc. | 21,325 | 686,025 |
Headwaters, Inc. * | 111,400 | 1,826,960 |
Hecla Mining Co. | 592,540 | 3,549,315 |
Ingevity Corp. * | 65,700 | 2,719,980 |
Innophos Holdings, Inc. | 30,300 | 1,388,952 |
Innospec, Inc. | 37,900 | 2,283,475 |
Kaiser Aluminum Corp. | 27,743 | 2,011,090 |
KapStone Paper & Packaging Corp. | 135,303 | 2,454,396 |
KMG Chemicals, Inc. | 12,600 | 341,964 |
Koppers Holdings, Inc. * | 30,900 | 1,011,975 |
Kraton Corp. * | 46,235 | 1,185,003 |
Kronos Worldwide, Inc. | 30,700 | 236,083 |
Louisiana-Pacific Corp. * | 228,972 | 4,201,636 |
LSB Industries, Inc. *(b) | 28,000 | 148,120 |
Materion Corp. | 31,829 | 964,419 |
Minerals Technologies, Inc. | 53,222 | 3,576,518 |
Multi Packaging Solutions International Ltd. * | 29,600 | 399,896 |
Myers Industries, Inc. | 34,900 | 420,545 |
Neenah Paper, Inc. | 25,753 | 2,057,665 |
Olin Corp. | 254,848 | 5,588,817 |
Olympic Steel, Inc. | 12,200 | 281,698 |
OMNOVA Solutions, Inc. * | 65,700 | 499,320 |
P.H. Glatfelter Co. | 69,400 | 1,542,068 |
PolyOne Corp. | 133,876 | 3,913,195 |
Quaker Chemical Corp. | 20,100 | 2,160,750 |
Rayonier Advanced Materials, Inc. | 69,342 | 896,592 |
Real Industry, Inc. * | 32,714 | 175,020 |
Ryerson Holding Corp. * | 25,800 | 264,450 |
Schnitzer Steel Industries, Inc., Class A | 43,300 | 1,045,695 |
Schweitzer-Mauduit International, Inc. | 48,000 | 1,771,680 |
Sensient Technologies Corp. | 68,414 | 5,097,527 |
Stepan Co. | 30,800 | 2,187,724 |
Stillwater Mining Co. * | 194,900 | 2,596,068 |
Summit Materials, Inc., Class A * | 116,381 | 2,180,980 |
SunCoke Energy, Inc. | 96,800 | 988,328 |
TerraVia Holdings, Inc. *(b) | 111,500 | 262,025 |
The Chemours Co. | 283,100 | 4,651,333 |
TimkenSteel Corp. * | 63,644 | 652,351 |
Trecora Resources * | 27,400 | 280,850 |
Tredegar Corp. | 42,100 | 778,850 |
Trinseo S.A. | 44,400 | 2,328,780 |
Security | Number of Shares | Value ($) |
Tronox Ltd., Class A | 106,100 | 859,410 |
UFP Technologies, Inc. * | 9,900 | 264,330 |
United States Lime & Minerals, Inc. | 2,700 | 177,633 |
US Concrete, Inc. * | 21,700 | 1,082,830 |
Valhi, Inc. | 25,000 | 49,000 |
Worthington Industries, Inc. | 73,817 | 3,469,399 |
121,574,133 | ||
Media 1.5% | ||
AMC Entertainment Holdings, Inc., Class A | 36,500 | 1,147,925 |
Carmike Cinemas, Inc. * | 37,900 | 1,237,435 |
Central European Media Enterprises Ltd., Class A *(b) | 109,100 | 267,295 |
Daily Journal Corp. * | 2,000 | 422,400 |
Entercom Communications Corp., Class A | 43,000 | 567,600 |
Entravision Communications Corp., Class A | 98,600 | 660,620 |
Eros International plc *(b) | 49,290 | 874,897 |
Gannett Co., Inc. | 179,800 | 1,397,046 |
Global Eagle Entertainment, Inc. * | 77,200 | 621,460 |
Gray Television, Inc. * | 100,493 | 894,388 |
Hemisphere Media Group, Inc. *(b) | 12,300 | 143,910 |
IMAX Corp. * | 93,600 | 2,831,400 |
Liberty Media Corp. - Liberty Braves, Class A * | 14,200 | 240,690 |
Liberty Media Corp. - Liberty Braves, Class C * | 48,500 | 808,495 |
Liberty Media Corp. - Liberty Media, Class A * | 35,000 | 974,050 |
Liberty Media Corp. - Liberty Media, Class C * | 74,800 | 2,050,268 |
Loral Space & Communications, Inc. * | 20,500 | 795,400 |
MDC Partners, Inc., Class A | 78,880 | 666,536 |
Media General, Inc. * | 166,886 | 2,812,029 |
Meredith Corp. | 58,800 | 2,666,580 |
MSG Networks, Inc., Class A * | 90,400 | 1,726,640 |
National CineMedia, Inc. | 95,700 | 1,327,359 |
New Media Investment Group, Inc. | 60,882 | 876,701 |
Nexstar Broadcasting Group, Inc., Class A (b) | 46,155 | 2,252,364 |
Radio One, Inc., Class D * | 41,200 | 103,000 |
Reading International, Inc., Class A * | 23,000 | 303,370 |
Saga Communications, Inc., Class A | 6,400 | 268,800 |
Salem Media Group, Inc. | 21,000 | 114,450 |
Scholastic Corp. | 41,569 | 1,590,014 |
Sinclair Broadcast Group, Inc., Class A | 100,902 | 2,532,640 |
The E.W. Scripps Co., Class A * | 89,271 | 1,183,733 |
The New York Times Co., Class A | 192,951 | 2,103,166 |
Time, Inc. | 155,186 | 2,017,418 |
Townsquare Media, Inc., Class A * | 10,100 | 84,638 |
tronc, Inc. | 45,517 | 547,570 |
World Wrestling Entertainment, Inc., Class A | 55,400 | 979,472 |
40,091,759 | ||
Pharmaceuticals, Biotechnology & Life Sciences 7.1% | ||
Accelerate Diagnostics, Inc. *(b) | 38,200 | 811,750 |
Acceleron Pharma, Inc. * | 42,727 | 1,197,638 |
AcelRx Pharmaceuticals, Inc. *(b) | 57,300 | 160,440 |
Achillion Pharmaceuticals, Inc. * | 184,789 | 1,160,475 |
Aclaris Therapeutics, Inc. * | 16,100 | 342,125 |
Acorda Therapeutics, Inc. * | 64,639 | 1,144,110 |
Adamas Pharmaceuticals, Inc. * | 27,472 | 377,465 |
Aduro Biotech, Inc. *(b) | 55,181 | 593,196 |
Security | Number of Shares | Value ($) |
Advaxis, Inc. *(b) | 56,011 | 453,129 |
Adverum Biotechnologies, Inc. * | 28,209 | 83,217 |
Aerie Pharmaceuticals, Inc. * | 37,544 | 1,248,338 |
Agenus, Inc. * | 110,054 | 436,914 |
Agile Therapeutics, Inc. * | 13,462 | 102,311 |
Aimmune Therapeutics, Inc. * | 40,500 | 659,340 |
Akebia Therapeutics, Inc. * | 52,447 | 394,401 |
Albany Molecular Research, Inc. *(b) | 40,600 | 632,954 |
Alder Biopharmaceuticals, Inc. * | 72,346 | 1,754,390 |
AMAG Pharmaceuticals, Inc. * | 54,731 | 1,406,587 |
Amicus Therapeutics, Inc. * | 220,404 | 1,520,788 |
Amphastar Pharmaceuticals, Inc. * | 53,126 | 963,706 |
Ampio Pharmaceuticals, Inc. * | 70,600 | 48,460 |
Anavex Life Sciences Corp. *(b) | 51,200 | 142,848 |
ANI Pharmaceuticals, Inc. * | 13,500 | 805,950 |
Anthera Pharmaceuticals, Inc. * | 51,939 | 114,266 |
Applied Genetic Technologies Corp. * | 17,400 | 124,410 |
Aptevo Therapeutics, Inc. * | 24,850 | 54,919 |
Aratana Therapeutics, Inc. * | 62,700 | 507,870 |
Ardelyx, Inc. * | 49,240 | 605,652 |
Arena Pharmaceuticals, Inc. * | 365,000 | 540,200 |
Argos Therapeutics, Inc. *(b) | 22,200 | 93,240 |
ARIAD Pharmaceuticals, Inc. * | 277,800 | 2,422,416 |
Array BioPharma, Inc. * | 260,979 | 1,487,580 |
Arrowhead Pharmaceuticals, Inc. *(b) | 98,400 | 570,720 |
Asterias Biotherapeutics, Inc. * | 45,825 | 151,223 |
Atara Biotherapeutics, Inc. * | 36,043 | 461,350 |
Athersys, Inc. *(b) | 120,200 | 217,562 |
Audentes Therapeutics, Inc. * | 10,700 | 171,093 |
Avexis, Inc. *(b) | 7,000 | 332,500 |
Axovant Sciences Ltd. * | 37,600 | 462,856 |
Axsome Therapeutics, Inc. * | 17,700 | 118,590 |
Bellicum Pharmaceuticals, Inc. * | 32,800 | 543,168 |
Bio-Path Holdings, Inc. *(b) | 131,200 | 131,200 |
BioCryst Pharmaceuticals, Inc. * | 116,000 | 469,800 |
BioSpecifics Technologies Corp. * | 8,000 | 347,120 |
BioTime, Inc. *(b) | 107,500 | 346,150 |
Bluebird Bio, Inc. * | 57,200 | 2,731,300 |
Blueprint Medicines Corp. * | 31,164 | 934,297 |
Cambrex Corp. * | 48,900 | 1,970,670 |
Cara Therapeutics, Inc. * | 27,617 | 193,043 |
Catalent, Inc. * | 153,299 | 3,496,750 |
Celldex Therapeutics, Inc. * | 159,500 | 502,425 |
Cellular Biomedicine Group, Inc. *(b) | 22,709 | 273,643 |
Cempra, Inc. *(b) | 69,178 | 1,253,851 |
Cepheid * | 113,800 | 6,020,020 |
ChemoCentryx, Inc. * | 32,000 | 191,360 |
Chimerix, Inc. * | 72,386 | 293,163 |
ChromaDex Corp. * | 44,800 | 123,648 |
Cidara Therapeutics, Inc. * | 17,159 | 163,011 |
Clearside Biomedical, Inc. *(b) | 14,000 | 302,820 |
Clovis Oncology, Inc. * | 51,200 | 1,488,896 |
Coherus Biosciences, Inc. * | 45,961 | 1,257,033 |
Collegium Pharmaceutical, Inc. * | 21,336 | 319,400 |
Concert Pharmaceuticals, Inc. * | 21,722 | 167,694 |
Corcept Therapeutics, Inc. * | 116,906 | 811,328 |
Curis, Inc. * | 158,654 | 412,500 |
Cytokinetics, Inc. * | 57,100 | 553,870 |
CytomX Therapeutics, Inc. * | 31,800 | 358,386 |
CytRx Corp. *(b) | 126,000 | 58,212 |
Depomed, Inc. * | 94,100 | 2,104,076 |
Dermira, Inc. * | 37,400 | 1,172,490 |
Dimension Therapeutics, Inc. * | 13,100 | 64,845 |
Durect Corp. * | 163,276 | 182,869 |
Dynavax Technologies Corp. *(b) | 58,300 | 539,275 |
Eagle Pharmaceuticals, Inc. *(b) | 15,124 | 845,129 |
Edge Therapeutics, Inc. * | 27,900 | 292,113 |
Editas Medicine, Inc. *(b) | 10,300 | 145,642 |
Security | Number of Shares | Value ($) |
Egalet Corp. *(b) | 35,600 | 199,716 |
Eiger BioPharmaceuticals, Inc. *(b) | 5,600 | 64,120 |
Emergent BioSolutions, Inc. * | 49,700 | 1,327,984 |
Enanta Pharmaceuticals, Inc. * | 26,322 | 619,093 |
Endocyte, Inc. * | 50,400 | 138,600 |
Enzo Biochem, Inc. * | 61,100 | 372,710 |
Epizyme, Inc. * | 65,259 | 590,594 |
Esperion Therapeutics, Inc. * | 18,670 | 192,301 |
Exact Sciences Corp. * | 163,562 | 2,548,296 |
Exelixis, Inc. * | 351,372 | 3,721,029 |
FibroGen, Inc. * | 82,209 | 1,360,559 |
Five Prime Therapeutics, Inc. * | 41,600 | 2,018,848 |
Flex Pharma, Inc. * | 19,700 | 95,742 |
Flexion Therapeutics, Inc. * | 35,943 | 686,511 |
Fluidigm Corp. * | 43,100 | 199,553 |
Fortress Biotech, Inc. *(b) | 56,900 | 135,422 |
Foundation Medicine, Inc. * | 20,500 | 465,350 |
Galena Biopharma, Inc. * | 265,000 | 60,871 |
Genomic Health, Inc. * | 31,700 | 944,977 |
Geron Corp. *(b) | 247,200 | 457,320 |
Global Blood Therapeutics, Inc. * | 29,600 | 516,520 |
GlycoMimetics, Inc. * | 19,600 | 118,188 |
Halozyme Therapeutics, Inc. * | 164,000 | 1,415,320 |
Heron Therapeutics, Inc. *(b) | 50,560 | 750,816 |
Heska Corp. * | 10,591 | 523,195 |
Horizon Pharma plc * | 248,900 | 4,161,608 |
Idera Pharmaceuticals, Inc. *(b) | 166,529 | 258,120 |
Ignyta, Inc. * | 57,745 | 288,725 |
Immune Design, Corp. * | 16,243 | 86,900 |
ImmunoGen, Inc. *(b) | 125,500 | 228,410 |
Immunomedics, Inc. *(b) | 132,600 | 304,980 |
Impax Laboratories, Inc. * | 113,100 | 2,273,310 |
INC Research Holdings, Inc., Class A * | 63,500 | 2,901,950 |
Infinity Pharmaceuticals, Inc. * | 67,500 | 81,675 |
Innoviva, Inc. * | 130,100 | 1,340,030 |
Inotek Pharmaceuticals Corp. * | 27,800 | 194,600 |
Inovio Pharmaceuticals, Inc. *(b) | 99,262 | 642,225 |
Insmed, Inc. * | 93,214 | 1,209,918 |
Insys Therapeutics, Inc. *(b) | 37,079 | 400,824 |
Intellia Therapeutics, Inc. *(b) | 10,700 | 147,446 |
Intersect ENT, Inc. * | 39,868 | 582,073 |
Intra-Cellular Therapies, Inc. * | 53,000 | 657,200 |
Invitae Corp. *(b) | 35,700 | 274,176 |
Ironwood Pharmaceuticals, Inc. * | 206,700 | 2,639,559 |
Kadmon Holdings, Inc. * | 18,500 | 84,175 |
Karyopharm Therapeutics, Inc. * | 33,263 | 240,824 |
Keryx Biopharmaceuticals, Inc. *(b) | 123,934 | 558,942 |
Kite Pharma, Inc. *(b) | 60,442 | 2,676,976 |
La Jolla Pharmaceutical Co. * | 21,579 | 377,632 |
Lannett Co., Inc. * | 41,300 | 904,470 |
Lexicon Pharmaceuticals, Inc. * | 68,300 | 1,012,889 |
Ligand Pharmaceuticals, Inc. * | 29,243 | 2,799,432 |
Lion Biotechnologies, Inc. * | 82,372 | 514,825 |
Lipocine, Inc. *(b) | 26,100 | 83,781 |
Loxo Oncology, Inc. * | 20,600 | 429,716 |
Luminex Corp. * | 64,200 | 1,337,286 |
MacroGenics, Inc. * | 50,449 | 1,195,137 |
MannKind Corp. * | 502,884 | 209,803 |
Medgenics, Inc. * | 44,012 | 212,138 |
MediciNova, Inc. *(b) | 46,400 | 315,056 |
Medpace Holdings, Inc. * | 13,500 | 391,770 |
Merrimack Pharmaceuticals, Inc. *(b) | 182,500 | 952,650 |
MiMedx Group, Inc. *(b) | 155,650 | 1,386,841 |
Minerva Neurosciences, Inc. * | 34,600 | 385,790 |
Mirati Therapeutics, Inc. * | 18,048 | 91,142 |
Momenta Pharmaceuticals, Inc. * | 95,786 | 1,068,014 |
MyoKardia, Inc. * | 20,400 | 274,380 |
Myriad Genetics, Inc. * | 105,786 | 2,085,042 |
Security | Number of Shares | Value ($) |
NanoString Technologies, Inc. * | 24,100 | 468,745 |
NantKwest, Inc. *(b) | 27,900 | 167,121 |
Natera, Inc. * | 40,300 | 341,744 |
Nektar Therapeutics * | 222,471 | 2,758,640 |
NeoGenomics, Inc. * | 89,888 | 724,497 |
Neos Therapeutics, Inc. *(b) | 21,500 | 126,850 |
NewLink Genetics Corp. * | 33,100 | 402,165 |
Novavax, Inc. *(b) | 420,621 | 639,344 |
Ocular Therapeutix, Inc. *(b) | 38,470 | 217,740 |
Omeros Corp. *(b) | 69,000 | 565,800 |
OncoMed Pharmaceuticals, Inc. * | 36,500 | 331,055 |
Ophthotech Corp. * | 47,243 | 1,692,244 |
Organovo Holdings, Inc. *(b) | 154,441 | 384,558 |
Osiris Therapeutics, Inc. *(b) | 30,400 | 121,904 |
Otonomy, Inc. * | 38,439 | 580,429 |
OvaScience, Inc. * | 56,701 | 285,773 |
Pacific Biosciences of California, Inc. * | 132,900 | 1,129,650 |
Pacira Pharmaceuticals, Inc. * | 55,400 | 1,761,720 |
Paratek Pharmaceuticals, Inc. * | 25,108 | 268,656 |
PAREXEL International Corp. * | 81,380 | 4,741,199 |
PDL BioPharma, Inc. | 239,600 | 771,512 |
Pfenex, Inc. * | 23,397 | 187,410 |
PharmAthene, Inc. * | 99,400 | 273,350 |
Phibro Animal Health Corp., Class A | 32,500 | 843,375 |
Portola Pharmaceuticals, Inc. * | 77,700 | 1,412,586 |
PRA Health Sciences, Inc. * | 36,900 | 1,963,818 |
Prestige Brands Holdings, Inc. * | 84,400 | 3,821,632 |
Progenics Pharmaceuticals Inc * | 102,600 | 516,078 |
Protagonist Therapeutics, Inc. *(b) | 13,200 | 248,160 |
Proteostasis Therapeutics, Inc. * | 10,000 | 71,200 |
Prothena Corp. plc * | 53,553 | 2,560,904 |
PTC Therapeutics, Inc. * | 53,136 | 329,975 |
Puma Biotechnology, Inc. * | 44,200 | 1,692,860 |
Radius Health, Inc. * | 50,314 | 2,159,477 |
Reata Pharmaceuticals, Inc., Class A *(b) | 9,100 | 206,024 |
REGENXBIO, Inc. * | 31,000 | 488,250 |
Regulus Therapeutics, Inc. * | 61,781 | 169,898 |
Repligen Corp. * | 52,100 | 1,488,497 |
Retrophin, Inc. * | 55,293 | 1,042,273 |
Revance Therapeutics, Inc. * | 28,408 | 379,247 |
Rigel Pharmaceuticals, Inc. * | 153,400 | 398,840 |
Sage Therapeutics, Inc. * | 48,295 | 2,102,764 |
Sangamo BioSciences, Inc. * | 113,700 | 403,635 |
Sarepta Therapeutics, Inc. * | 78,200 | 3,068,568 |
SciClone Pharmaceuticals, Inc. * | 78,000 | 698,100 |
Seres Therapeutics, Inc. * | 27,600 | 297,804 |
Sorrento Therapeutics, Inc. *(b) | 39,855 | 229,166 |
Spark Therapeutics, Inc. * | 29,400 | 1,382,094 |
Spectrum Pharmaceuticals, Inc. * | 109,900 | 389,046 |
Stemline Therapeutics, Inc. * | 26,000 | 296,400 |
Sucampo Pharmaceuticals, Inc., Class A * | 40,218 | 458,485 |
Supernus Pharmaceuticals, Inc. * | 72,800 | 1,441,440 |
Syndax Pharmaceuticals, Inc. * | 10,100 | 119,281 |
Synergy Pharmaceuticals, Inc. * | 281,400 | 1,291,626 |
Synthetic Biologics, Inc. *(b) | 118,100 | 165,340 |
T2 Biosystems, Inc. *(b) | 21,600 | 136,512 |
Teligent, Inc. * | 58,900 | 383,439 |
TESARO, Inc. * | 41,300 | 4,992,344 |
Tetraphase Pharmaceuticals, Inc. * | 52,053 | 182,186 |
TG Therapeutics, Inc. *(b) | 59,050 | 315,918 |
The Medicines Co. * | 103,928 | 3,424,428 |
TherapeuticsMD, Inc. * | 225,855 | 1,296,408 |
Theravance Biopharma, Inc. *(b) | 57,400 | 1,442,462 |
Titan Pharmaceuticals, Inc. * | 30,100 | 136,955 |
Tobira Therapeutics, Inc. * | 14,029 | 590,481 |
Tokai Pharmaceuticals, Inc. *(b) | 15,000 | 16,500 |
Trevena, Inc. * | 70,634 | 344,694 |
Trovagene, Inc. *(b) | 35,347 | 121,947 |
Security | Number of Shares | Value ($) |
Ultragenyx Pharmaceutical, Inc. * | 55,941 | 3,299,960 |
Vanda Pharmaceuticals, Inc. * | 60,600 | 899,910 |
Versartis, Inc. * | 53,335 | 589,352 |
Vital Therapies, Inc. *(b) | 35,847 | 191,781 |
Voyager Therapeutics, Inc. *(b) | 18,900 | 226,800 |
vTv Therapeutics, Inc., Class A * | 7,000 | 37,730 |
WaVe Life Sciences Ltd. * | 11,500 | 366,275 |
XBiotech, Inc. *(b) | 27,238 | 360,904 |
Xencor, Inc. * | 49,428 | 1,052,322 |
Zafgen, Inc. * | 44,572 | 134,162 |
ZIOPHARM Oncology, Inc. *(b) | 200,264 | 1,137,500 |
Zogenix, Inc. * | 40,225 | 327,834 |
186,812,004 | ||
Real Estate 8.2% | ||
Acadia Realty Trust | 122,357 | 4,122,207 |
Agree Realty Corp. | 35,000 | 1,692,250 |
Alexander & Baldwin, Inc. | 72,360 | 3,023,924 |
Alexander's, Inc. | 3,341 | 1,283,846 |
Altisource Portfolio Solutions S.A. * | 19,887 | 512,090 |
American Assets Trust, Inc. | 65,200 | 2,589,092 |
Armada Hoffler Properties, Inc. | 51,600 | 692,988 |
Ashford Hospitality Prime, Inc. | 42,487 | 550,632 |
Ashford Hospitality Trust, Inc. | 128,682 | 747,642 |
AV Homes, Inc. * | 24,800 | 395,560 |
Bluerock Residential Growth REIT, Inc. | 26,308 | 326,219 |
CareTrust REIT, Inc. | 88,865 | 1,251,219 |
CatchMark Timber Trust, Inc., Class A | 57,209 | 602,983 |
CBL & Associates Properties, Inc. | 259,200 | 2,773,440 |
Cedar Realty Trust, Inc. | 124,200 | 840,834 |
Chatham Lodging Trust | 61,234 | 1,083,842 |
Chesapeake Lodging Trust | 93,585 | 2,031,730 |
City Office REIT, Inc. | 28,800 | 361,728 |
Colony Starwood Homes | 99,500 | 2,886,495 |
Community Healthcare Trust, Inc. | 19,900 | 445,362 |
Consolidated-Tomoka Land Co. | 7,600 | 385,092 |
CorEnergy Infrastructure Trust, Inc. | 19,500 | 528,060 |
CoreSite Realty Corp. | 51,700 | 3,812,358 |
Cousins Properties, Inc. | 537,907 | 4,179,537 |
DiamondRock Hospitality Co. | 306,017 | 2,800,056 |
DuPont Fabros Technology, Inc. | 114,924 | 4,690,048 |
Easterly Government Properties, Inc. | 49,500 | 939,015 |
EastGroup Properties, Inc. | 48,190 | 3,272,583 |
Education Realty Trust, Inc. | 112,913 | 4,808,965 |
Farmland Partners, Inc. (b) | 18,200 | 193,648 |
FelCor Lodging Trust, Inc. | 226,213 | 1,445,501 |
First Industrial Realty Trust, Inc. | 182,737 | 4,826,084 |
First Potomac Realty Trust | 90,700 | 809,044 |
Forestar Group, Inc. * | 49,700 | 546,700 |
Four Corners Property Trust, Inc. | 93,300 | 1,873,464 |
Franklin Street Properties Corp. | 173,965 | 2,012,775 |
FRP Holdings, Inc. * | 12,700 | 403,860 |
Getty Realty Corp. | 39,459 | 896,903 |
Gladstone Commercial Corp. | 34,300 | 612,255 |
Global Medical REIT, Inc. | 28,400 | 276,900 |
Global Net Lease, Inc. | 262,400 | 1,944,384 |
Government Properties Income Trust | 106,447 | 2,037,396 |
Gramercy Property Trust | 662,768 | 6,110,721 |
Healthcare Realty Trust, Inc. | 179,181 | 5,714,082 |
Hersha Hospitality Trust | 62,925 | 1,121,324 |
HFF, Inc., Class A | 58,900 | 1,568,507 |
Hudson Pacific Properties, Inc. | 147,711 | 4,966,044 |
Independence Realty Trust, Inc. | 86,258 | 718,529 |
InfraREIT, Inc. | 61,400 | 1,020,468 |
Investors Real Estate Trust | 187,002 | 1,135,102 |
iStar, Inc. * | 109,700 | 1,220,961 |
Kennedy-Wilson Holdings, Inc. | 133,887 | 2,758,072 |
Security | Number of Shares | Value ($) |
Kite Realty Group Trust | 126,739 | 3,159,603 |
LaSalle Hotel Properties | 168,579 | 4,003,751 |
Lexington Realty Trust | 349,974 | 3,548,736 |
LTC Properties, Inc. | 59,251 | 2,969,068 |
Mack-Cali Realty Corp. | 140,900 | 3,618,312 |
Marcus & Millichap, Inc. * | 19,579 | 458,736 |
Medical Properties Trust, Inc. | 458,153 | 6,386,653 |
Monmouth Real Estate Investment Corp. | 96,200 | 1,315,054 |
Monogram Residential Trust, Inc. | 260,924 | 2,750,139 |
National Health Investors, Inc. | 57,368 | 4,346,200 |
National Storage Affiliates Trust | 53,821 | 1,053,815 |
New Senior Investment Group, Inc. | 119,769 | 1,247,993 |
New York REIT, Inc. | 269,688 | 2,540,461 |
NexPoint Residential Trust, Inc. | 30,669 | 571,670 |
NorthStar Realty Europe Corp. | 93,800 | 927,682 |
One Liberty Properties, Inc. | 18,700 | 440,572 |
Parkway, Inc. * | 67,238 | 1,211,629 |
Pebblebrook Hotel Trust | 109,500 | 2,658,660 |
Pennsylvania Real Estate Investment Trust | 106,167 | 2,071,318 |
Physicians Realty Trust | 213,250 | 4,215,953 |
Potlatch Corp. | 64,603 | 2,480,755 |
Preferred Apartment Communities, Inc., Class A | 29,997 | 390,561 |
PS Business Parks, Inc. | 29,938 | 3,286,893 |
QTS Realty Trust, Inc., Class A | 71,987 | 3,308,523 |
RAIT Financial Trust | 154,400 | 470,920 |
Ramco-Gershenson Properties Trust | 120,921 | 2,096,770 |
RE/MAX Holdings, Inc., Class A | 26,200 | 1,138,390 |
Retail Opportunity Investments Corp. | 170,447 | 3,427,689 |
Rexford Industrial Realty, Inc. | 98,116 | 2,066,323 |
RLJ Lodging Trust | 195,135 | 3,848,062 |
Ryman Hospitality Properties, Inc. | 67,385 | 3,397,552 |
Sabra Health Care REIT, Inc. | 102,796 | 2,395,147 |
Saul Centers, Inc. | 15,800 | 955,584 |
Select Income REIT | 94,928 | 2,348,519 |
Seritage Growth Properties, Class A (b) | 38,500 | 1,753,675 |
Silver Bay Realty Trust Corp. | 56,433 | 945,253 |
STAG Industrial, Inc. | 105,900 | 2,443,113 |
Stratus Properties, Inc. * | 9,200 | 222,640 |
Summit Hotel Properties, Inc. | 137,500 | 1,786,125 |
Sunstone Hotel Investors, Inc. | 348,254 | 4,374,070 |
Tejon Ranch Co. * | 19,092 | 426,515 |
Terreno Realty Corp. | 67,900 | 1,772,190 |
The GEO Group, Inc. | 116,880 | 2,800,445 |
The RMR Group, Inc., Class A | 11,919 | 409,418 |
The St. Joe Co. * | 76,600 | 1,355,820 |
Tier REIT, Inc. | 73,000 | 1,076,750 |
Trinity Place Holdings, Inc. * | 28,900 | 279,174 |
UMH Properties, Inc. | 31,900 | 386,628 |
Universal Health Realty Income Trust | 19,444 | 1,141,363 |
Urban Edge Properties | 136,387 | 3,520,148 |
Urstadt Biddle Properties, Inc., Class A | 46,774 | 1,005,641 |
Washington Prime Group, Inc. | 286,000 | 3,000,140 |
Washington Real Estate Investment Trust | 112,082 | 3,297,452 |
Whitestone REIT | 41,700 | 554,610 |
Xenia Hotels & Resorts, Inc. | 156,362 | 2,440,811 |
213,942,195 | ||
Retailing 3.3% | ||
1-800-Flowers.com, Inc., Class A * | 46,800 | 446,940 |
Aaron's, Inc. | 100,400 | 2,480,884 |
Abercrombie & Fitch Co., Class A | 104,363 | 1,524,743 |
America's Car-Mart, Inc. * | 11,500 | 469,775 |
American Eagle Outfitters, Inc. | 256,815 | 4,376,128 |
Asbury Automotive Group, Inc. * | 30,985 | 1,578,686 |
Ascena Retail Group, Inc. * | 260,163 | 1,272,197 |
At Home Group, Inc. * | 16,400 | 183,680 |
Security | Number of Shares | Value ($) |
Barnes & Noble Education, Inc. * | 60,395 | 562,277 |
Barnes & Noble, Inc. | 96,110 | 989,933 |
Big 5 Sporting Goods Corp. | 32,284 | 500,402 |
Big Lots, Inc. | 68,610 | 2,977,674 |
Blue Nile, Inc. | 19,000 | 663,670 |
Boot Barn Holdings, Inc. * | 21,411 | 274,061 |
Build-A-Bear Workshop, Inc. * | 25,700 | 346,950 |
Caleres, Inc. | 68,275 | 1,707,558 |
Chico's FAS, Inc. | 207,151 | 2,417,452 |
Citi Trends, Inc. | 24,846 | 493,442 |
Conn's, Inc. *(b) | 35,300 | 335,350 |
Core-Mark Holding Co., Inc. | 72,282 | 2,555,169 |
Destination XL Group, Inc. * | 56,400 | 228,420 |
DSW, Inc., Class A | 102,000 | 2,118,540 |
Duluth Holdings, Inc., Class B *(b) | 16,700 | 453,405 |
Etsy, Inc. * | 161,863 | 2,100,982 |
Express, Inc. * | 115,898 | 1,393,094 |
Five Below, Inc. * | 82,300 | 3,092,834 |
Francesca's Holdings Corp. * | 66,500 | 1,068,655 |
Fred's, Inc., Class A | 60,300 | 550,539 |
FTD Cos., Inc. * | 28,097 | 565,312 |
Gaia, Inc. * | 19,900 | 147,260 |
Genesco, Inc. * | 31,944 | 1,718,587 |
GNC Holdings, Inc., Class A | 105,000 | 1,410,150 |
Group 1 Automotive, Inc. | 32,300 | 1,946,721 |
Guess?, Inc. | 94,900 | 1,281,150 |
Haverty Furniture Cos., Inc. | 30,300 | 537,825 |
Hibbett Sports, Inc. * | 34,275 | 1,331,584 |
HSN, Inc. | 46,955 | 1,770,203 |
Kirkland's, Inc. * | 27,800 | 339,438 |
Lands' End, Inc. *(b) | 24,200 | 377,520 |
Liberty TripAdvisor Holdings, Inc., Class A * | 111,811 | 2,482,204 |
Lithia Motors, Inc., Class A | 36,737 | 3,151,300 |
Lumber Liquidators Holdings, Inc. * | 39,398 | 611,063 |
MarineMax, Inc. * | 37,700 | 752,115 |
Monro Muffler Brake, Inc. | 48,546 | 2,670,030 |
Nutrisystem, Inc. | 46,448 | 1,472,402 |
Office Depot, Inc. | 851,700 | 2,682,855 |
Ollie's Bargain Outlet Holdings, Inc. * | 30,900 | 845,115 |
Overstock.com, Inc. * | 24,500 | 358,925 |
Party City Holdco, Inc. * | 43,516 | 707,135 |
PetMed Express, Inc. | 29,500 | 586,165 |
Pier 1 Imports, Inc. | 122,700 | 528,837 |
Rent-A-Center, Inc. | 77,785 | 784,851 |
Restoration Hardware Holdings, Inc. *(b) | 59,341 | 1,719,109 |
Sears Holdings Corp. *(b) | 17,600 | 195,536 |
Sears Hometown & Outlet Stores, Inc. * | 16,800 | 81,480 |
Select Comfort Corp. * | 71,112 | 1,364,639 |
Shoe Carnival, Inc. | 24,850 | 630,444 |
Shutterfly, Inc. * | 54,047 | 2,648,303 |
Sonic Automotive, Inc., Class A | 43,174 | 772,815 |
Sportsman's Warehouse Holdings, Inc. * | 44,500 | 409,400 |
Stage Stores, Inc. | 46,827 | 238,349 |
Stein Mart, Inc. | 44,300 | 266,686 |
Tailored Brands, Inc. | 72,769 | 1,149,750 |
The Buckle, Inc. (b) | 43,064 | 897,884 |
The Cato Corp., Class A | 40,904 | 1,213,622 |
The Children's Place, Inc. | 29,690 | 2,254,955 |
The Container Store Group, Inc. * | 25,200 | 122,976 |
The Finish Line, Inc., Class A | 63,619 | 1,252,658 |
Tile Shop Holdings, Inc. * | 49,900 | 845,805 |
Tilly's, Inc., Class A * | 12,600 | 116,928 |
Tuesday Morning Corp. * | 65,800 | 325,710 |
Vitamin Shoppe, Inc. * | 39,400 | 986,970 |
Wayfair, Inc., Class A *(b) | 48,598 | 1,619,771 |
West Marine, Inc. * | 24,500 | 196,000 |
Weyco Group, Inc. | 9,100 | 230,321 |
Security | Number of Shares | Value ($) |
Winmark Corp. | 3,000 | 320,850 |
Zumiez, Inc. * | 30,100 | 669,725 |
86,752,873 | ||
Semiconductors & Semiconductor Equipment 3.8% | ||
Acacia Communications, Inc. *(b) | 8,000 | 557,520 |
Advanced Energy Industries, Inc. * | 63,837 | 3,045,025 |
Advanced Micro Devices, Inc. * | 1,174,643 | 8,492,669 |
Alpha & Omega Semiconductor Ltd. * | 28,000 | 591,640 |
Ambarella, Inc. * | 50,500 | 3,099,185 |
Amkor Technology, Inc. * | 152,118 | 1,410,134 |
Applied Micro Circuits Corp. * | 116,965 | 865,541 |
Axcelis Technologies, Inc. * | 47,100 | 642,915 |
Brooks Automation, Inc. | 104,131 | 1,356,827 |
Cabot Microelectronics Corp. | 38,700 | 2,138,562 |
Cavium, Inc. * | 100,850 | 5,692,982 |
CEVA, Inc. * | 32,336 | 971,697 |
Cirrus Logic, Inc. * | 96,600 | 5,214,468 |
Cohu, Inc. | 36,800 | 411,792 |
Diodes, Inc. * | 59,781 | 1,238,065 |
DSP Group, Inc. * | 31,400 | 342,260 |
Entegris, Inc. * | 221,900 | 3,528,210 |
Exar Corp. * | 58,500 | 527,670 |
FormFactor, Inc. * | 106,491 | 955,757 |
GigPeak, Inc. * | 73,600 | 174,432 |
Impinj, Inc. * | 9,500 | 234,555 |
Inphi Corp. * | 63,633 | 2,360,784 |
Integrated Device Technology, Inc. * | 208,589 | 4,319,878 |
Intersil Corp., Class A | 211,100 | 4,661,088 |
IXYS Corp. | 42,600 | 451,560 |
Kopin Corp. * | 95,000 | 198,550 |
Lattice Semiconductor Corp. * | 197,000 | 1,195,790 |
MACOM Technology Solutions Holdings, Inc. * | 36,753 | 1,351,040 |
MaxLinear, Inc., Class A * | 87,860 | 1,643,861 |
Microsemi Corp. * | 179,521 | 7,563,220 |
MKS Instruments, Inc. | 81,289 | 4,101,030 |
Monolithic Power Systems, Inc. | 60,100 | 4,736,481 |
Nanometrics, Inc. * | 40,600 | 848,134 |
NeoPhotonics Corp. * | 50,663 | 709,282 |
NVE Corp. | 6,500 | 365,755 |
PDF Solutions, Inc. * | 44,800 | 884,800 |
Photronics, Inc. * | 106,637 | 1,034,379 |
Power Integrations, Inc. | 42,262 | 2,723,786 |
Rambus, Inc. * | 167,300 | 2,039,387 |
Rudolph Technologies, Inc. * | 46,700 | 845,270 |
Semtech Corp. * | 100,029 | 2,420,702 |
Sigma Designs, Inc. * | 48,758 | 355,933 |
Silicon Laboratories, Inc. * | 63,250 | 3,791,837 |
Synaptics, Inc. * | 56,400 | 2,939,568 |
Tessera Technologies, Inc. | 74,759 | 2,773,559 |
Ultra Clean Holdings, Inc. * | 43,300 | 368,050 |
Ultratech, Inc. * | 35,200 | 749,408 |
Veeco Instruments, Inc. * | 64,839 | 1,407,006 |
Xcerra Corp. * | 84,400 | 465,044 |
98,797,088 | ||
Software & Services 8.9% | ||
2U, Inc. * | 56,458 | 1,968,126 |
8x8, Inc. * | 135,500 | 1,930,875 |
A10 Networks, Inc. * | 68,819 | 527,154 |
ACI Worldwide, Inc. * | 182,252 | 3,302,406 |
Actua Corp. * | 56,400 | 657,060 |
Acxiom Corp. * | 118,200 | 2,784,792 |
Alarm.com Holdings, Inc. * | 15,700 | 458,126 |
ALJ Regional Holdings, Inc. * | 28,500 | 113,715 |
Security | Number of Shares | Value ($) |
Amber Road, Inc. * | 37,900 | 361,187 |
American Software, Inc., Class A | 45,000 | 469,350 |
Angie's List, Inc. * | 62,800 | 483,560 |
Apigee Corp. * | 24,000 | 416,400 |
Appfolio, Inc., Class A * | 6,300 | 120,015 |
Aspen Technology, Inc. * | 130,299 | 6,415,923 |
Autobytel, Inc. * | 13,500 | 220,725 |
Bankrate, Inc. * | 74,600 | 581,880 |
Barracuda Networks, Inc. * | 34,500 | 804,540 |
Bazaarvoice, Inc. * | 142,400 | 697,760 |
Benefitfocus, Inc. * | 19,790 | 643,175 |
Blackbaud, Inc. | 72,769 | 4,468,017 |
Blackhawk Network Holdings, Inc. * | 84,502 | 2,911,094 |
Blucora, Inc. * | 63,100 | 839,230 |
Bottomline Technologies de, Inc. * | 63,700 | 1,445,353 |
Box, Inc., Class A * | 75,700 | 1,091,594 |
Brightcove, Inc. * | 49,900 | 556,385 |
BroadSoft, Inc. * | 45,600 | 1,894,680 |
CACI International, Inc., Class A * | 38,658 | 3,782,685 |
Callidus Software, Inc. * | 98,000 | 1,788,500 |
Carbonite, Inc. * | 26,000 | 443,300 |
Cardtronics plc, Class A * | 71,800 | 3,590,000 |
Care.com, Inc. * | 23,800 | 216,104 |
Cass Information Systems, Inc. | 17,640 | 950,090 |
ChannelAdvisor Corp. * | 39,100 | 430,100 |
Cimpress N.V. * | 38,800 | 3,230,100 |
CommVault Systems, Inc. * | 60,547 | 3,239,264 |
comScore, Inc. * | 73,649 | 2,120,355 |
Convergys Corp. | 137,600 | 4,017,920 |
Cornerstone OnDemand, Inc. * | 78,300 | 3,233,790 |
CSG Systems International, Inc. | 51,100 | 1,943,333 |
Cvent, Inc. * | 46,200 | 1,442,364 |
Datalink Corp. * | 30,100 | 285,348 |
DHI Group, Inc. * | 76,400 | 435,480 |
Digimarc Corp. *(b) | 17,200 | 543,520 |
EarthLink Holdings Corp. | 161,881 | 925,959 |
Ebix, Inc. | 39,400 | 2,206,400 |
Ellie Mae, Inc. * | 50,900 | 5,389,801 |
Endurance International Group Holdings, Inc. * | 93,002 | 683,565 |
EnerNOC, Inc. * | 42,000 | 218,400 |
Envestnet, Inc. * | 63,754 | 2,253,704 |
EPAM Systems, Inc. * | 76,483 | 4,923,211 |
EVERTEC, Inc. | 94,800 | 1,436,220 |
Everyday Health, Inc. * | 43,639 | 458,210 |
Exa Corp. * | 21,600 | 302,400 |
ExlService Holdings, Inc. * | 50,592 | 2,227,566 |
Fair Isaac Corp. | 48,641 | 5,869,996 |
Five9, Inc. * | 50,800 | 727,456 |
Fleetmatics Group plc * | 61,900 | 3,707,810 |
Forrester Research, Inc. | 16,017 | 596,633 |
Gigamon, Inc. * | 50,200 | 2,776,060 |
Global Sources Ltd. * | 12,000 | 97,200 |
Globant S.A. * | 39,751 | 1,729,169 |
Glu Mobile, Inc. *(b) | 170,358 | 337,309 |
Gogo, Inc. *(b) | 89,100 | 900,801 |
GrubHub, Inc. * | 124,576 | 4,747,591 |
GTT Communications, Inc. * | 40,643 | 914,468 |
Guidance Software, Inc. * | 31,700 | 163,572 |
Hortonworks, Inc. *(b) | 62,800 | 479,792 |
HubSpot, Inc. * | 44,689 | 2,343,938 |
Imperva, Inc. * | 44,242 | 1,632,530 |
inContact, Inc. * | 91,600 | 1,274,156 |
Infoblox, Inc. * | 87,800 | 2,326,700 |
Information Services Group, Inc. * | 48,500 | 191,575 |
Instructure, Inc. * | 16,500 | 419,925 |
Interactive Intelligence Group, Inc. * | 28,173 | 1,703,058 |
Intralinks Holdings, Inc. * | 61,600 | 564,872 |
Security | Number of Shares | Value ($) |
j2 Global, Inc. | 72,528 | 5,160,367 |
Jive Software, Inc. * | 82,300 | 325,085 |
Limelight Networks, Inc. * | 90,900 | 161,802 |
Lionbridge Technologies, Inc. * | 99,900 | 482,517 |
Liquidity Services, Inc. * | 37,500 | 331,875 |
LivePerson, Inc. * | 80,400 | 683,400 |
LogMeIn, Inc. | 39,800 | 3,781,000 |
ManTech International Corp., Class A | 38,700 | 1,502,721 |
Marchex, Inc., Class B * | 48,200 | 121,464 |
MAXIMUS, Inc. | 99,517 | 5,180,855 |
MeetMe, Inc. * | 64,400 | 314,916 |
Mentor Graphics Corp. | 172,267 | 4,978,516 |
MicroStrategy, Inc., Class A * | 15,362 | 2,992,671 |
MINDBODY, Inc., Class A *(b) | 22,000 | 455,400 |
Mitek Systems, Inc. * | 46,200 | 311,850 |
MobileIron, Inc. * | 92,736 | 338,486 |
Model N, Inc. * | 28,300 | 291,490 |
MoneyGram International, Inc. * | 42,800 | 300,028 |
Monotype Imaging Holdings, Inc. | 63,400 | 1,210,940 |
NCI, Inc., Class A | 10,000 | 117,500 |
NeuStar, Inc., Class A * | 83,479 | 1,874,104 |
New Relic, Inc. * | 33,800 | 1,232,010 |
NIC, Inc. | 97,400 | 2,235,330 |
Numerex Corp., Class A * | 21,400 | 152,154 |
Park City Group, Inc. * | 25,000 | 328,750 |
Paycom Software, Inc. * | 67,907 | 3,512,829 |
Paylocity Holding Corp. * | 33,245 | 1,445,825 |
Pegasystems, Inc. | 59,600 | 1,841,640 |
Perficient, Inc. * | 53,497 | 995,579 |
PFSweb, Inc. * | 18,923 | 136,624 |
Planet Payment, Inc. * | 66,200 | 231,038 |
Progress Software Corp. * | 79,220 | 2,131,810 |
Proofpoint, Inc. * | 62,900 | 4,930,102 |
PROS Holdings, Inc. * | 41,600 | 911,872 |
Q2 Holdings, Inc. * | 39,493 | 1,109,753 |
QAD, Inc., Class A | 14,100 | 339,105 |
Qualys, Inc. * | 44,026 | 1,639,969 |
QuinStreet, Inc. * | 44,900 | 130,210 |
Quotient Technology, Inc. * | 99,132 | 1,050,799 |
Rapid7, Inc. * | 31,100 | 445,663 |
RealNetworks, Inc. * | 52,657 | 234,850 |
RealPage, Inc. * | 82,900 | 2,254,880 |
Reis, Inc. | 11,900 | 233,835 |
RetailMeNot, Inc. * | 65,800 | 595,490 |
Rightside Group Ltd. * | 17,500 | 147,175 |
RingCentral, Inc., Class A * | 90,868 | 1,880,968 |
Rosetta Stone, Inc. * | 31,000 | 220,720 |
Sapiens International Corp. N.V. | 33,066 | 450,028 |
Science Applications International Corp. | 65,384 | 4,505,611 |
SecureWorks Corp., Class A * | 9,300 | 109,647 |
ServiceSource International, Inc. * | 105,500 | 501,125 |
Shutterstock, Inc. * | 30,360 | 1,790,936 |
Silver Spring Networks, Inc. * | 60,200 | 846,412 |
SPS Commerce, Inc. * | 25,500 | 1,590,690 |
Stamps.com, Inc. * | 24,800 | 2,419,240 |
Sykes Enterprises, Inc. * | 60,293 | 1,612,235 |
Synchronoss Technologies, Inc. * | 63,662 | 2,337,032 |
Syntel, Inc. | 49,817 | 1,001,322 |
Take-Two Interactive Software, Inc. * | 129,712 | 5,757,916 |
Tangoe, Inc. * | 45,200 | 387,816 |
TechTarget, Inc. * | 31,700 | 256,136 |
Telenav, Inc. * | 40,000 | 218,000 |
TeleTech Holdings, Inc. | 27,200 | 764,320 |
The Hackett Group, Inc. | 40,800 | 657,696 |
The Rubicon Project, Inc. * | 57,661 | 441,683 |
TiVo Corp. * | 182,409 | 3,620,819 |
Travelport Worldwide Ltd. | 177,362 | 2,504,351 |
TrueCar, Inc. * | 87,259 | 842,049 |
Security | Number of Shares | Value ($) |
TubeMogul, Inc. * | 29,288 | 213,802 |
Unisys Corp. *(b) | 77,550 | 810,398 |
Varonis Systems, Inc. * | 15,900 | 453,945 |
VASCO Data Security International, Inc. * | 45,900 | 631,125 |
Verint Systems, Inc. * | 99,560 | 3,584,160 |
VirnetX Holding Corp. *(b) | 65,700 | 200,385 |
Virtusa Corp. * | 44,900 | 850,406 |
Web.com Group, Inc. * | 66,800 | 1,075,480 |
WebMD Health Corp. * | 59,070 | 2,902,109 |
Workiva, Inc. * | 34,700 | 574,285 |
Xactly Corp. * | 35,400 | 456,660 |
XO Group, Inc. * | 39,800 | 732,320 |
Zendesk, Inc. * | 125,294 | 3,293,979 |
Zix Corp. * | 88,900 | 361,823 |
232,427,330 | ||
Technology Hardware & Equipment 5.2% | ||
3D Systems Corp. *(b) | 165,900 | 2,301,033 |
ADTRAN, Inc. | 79,800 | 1,448,370 |
Aerohive Networks, Inc. * | 31,800 | 168,222 |
Agilysys, Inc. * | 24,000 | 231,600 |
Anixter International, Inc. * | 44,824 | 2,947,178 |
Applied Optoelectronics, Inc. * | 23,900 | 459,597 |
Avid Technology, Inc. * | 43,642 | 286,728 |
AVX Corp. | 72,454 | 1,015,805 |
Badger Meter, Inc. | 43,880 | 1,410,742 |
Bel Fuse, Inc., Class B | 14,100 | 336,285 |
Belden, Inc. | 66,108 | 4,284,459 |
Benchmark Electronics, Inc. * | 75,094 | 1,888,614 |
Black Box Corp. | 24,092 | 277,058 |
CalAmp Corp. * | 53,500 | 691,220 |
Calix, Inc. * | 62,600 | 391,250 |
Ciena Corp. * | 211,574 | 4,100,304 |
Clearfield, Inc. * | 16,700 | 279,725 |
Coherent, Inc. * | 37,789 | 3,934,591 |
Comtech Telecommunications Corp. | 37,500 | 390,000 |
Control4 Corp. * | 31,800 | 359,022 |
CPI Card Group, Inc. (b) | 30,300 | 166,650 |
Cray, Inc. * | 62,100 | 1,291,680 |
CTS Corp. | 52,200 | 950,040 |
Daktronics, Inc. | 59,300 | 495,155 |
Diebold, Inc. | 107,933 | 2,352,939 |
Digi International, Inc. * | 33,900 | 310,185 |
DTS, Inc. | 28,842 | 1,221,459 |
Eastman Kodak Co. * | 25,900 | 385,910 |
Electro Scientific Industries, Inc. * | 42,900 | 222,222 |
Electronics For Imaging, Inc. * | 72,388 | 3,078,662 |
EMCORE Corp. | 34,290 | 224,599 |
ePlus, Inc. * | 9,200 | 842,260 |
Extreme Networks, Inc. * | 166,900 | 702,649 |
Fabrinet * | 55,600 | 2,110,576 |
FARO Technologies, Inc. * | 25,200 | 845,460 |
Finisar Corp. * | 165,200 | 4,523,176 |
Harmonic, Inc. * | 123,200 | 628,320 |
II-VI, Inc. * | 90,100 | 2,504,780 |
Immersion Corp. * | 46,379 | 378,453 |
Infinera Corp. * | 215,904 | 1,684,051 |
Insight Enterprises, Inc. * | 55,100 | 1,586,329 |
InterDigital, Inc. | 55,700 | 3,935,205 |
InvenSense, Inc. * | 133,100 | 1,018,215 |
Itron, Inc. * | 52,369 | 2,822,689 |
Ixia * | 104,264 | 1,245,955 |
Kimball Electronics, Inc. * | 49,900 | 693,610 |
Knowles Corp. * | 133,397 | 1,992,951 |
KVH Industries, Inc. * | 30,800 | 244,860 |
Littelfuse, Inc. | 34,800 | 4,854,600 |
Lumentum Holdings, Inc. * | 77,700 | 2,610,720 |
Security | Number of Shares | Value ($) |
Maxwell Technologies, Inc. * | 50,000 | 242,000 |
Mesa Laboratories, Inc. | 4,800 | 605,952 |
Methode Electronics, Inc. | 56,200 | 1,753,440 |
MTS Systems Corp. | 26,875 | 1,277,906 |
NETGEAR, Inc. * | 50,000 | 2,525,000 |
NetScout Systems, Inc. * | 139,600 | 3,832,020 |
Nimble Storage, Inc. * | 97,277 | 742,224 |
Novanta, Inc. * | 57,700 | 1,006,865 |
Oclaro, Inc. * | 175,000 | 1,279,250 |
OSI Systems, Inc. * | 27,700 | 1,942,601 |
Park Electrochemical Corp. | 32,946 | 508,357 |
PC Connection, Inc. | 17,700 | 410,817 |
Plantronics, Inc. | 50,730 | 2,623,248 |
Plexus Corp. * | 50,462 | 2,311,664 |
Pure Storage, Inc., Class A * | 107,400 | 1,325,316 |
Radisys Corp. * | 56,700 | 236,439 |
Rofin-Sinar Technologies, Inc. * | 45,436 | 1,478,942 |
Rogers Corp. * | 27,867 | 1,516,801 |
Sanmina Corp. * | 112,400 | 3,107,860 |
ScanSource, Inc. * | 40,305 | 1,410,675 |
ShoreTel, Inc. * | 105,257 | 699,959 |
Silicom Ltd. | 8,600 | 319,920 |
Silicon Graphics International Corp. * | 53,400 | 413,850 |
Sonus Networks, Inc. * | 72,111 | 417,523 |
Stratasys Ltd. * | 77,206 | 1,476,179 |
Super Micro Computer, Inc. * | 60,326 | 1,429,726 |
SYNNEX Corp. | 46,200 | 4,737,348 |
Systemax, Inc. | 14,500 | 113,825 |
Tech Data Corp. * | 54,367 | 4,187,346 |
TTM Technologies, Inc. * | 110,892 | 1,458,230 |
Ubiquiti Networks, Inc. * | 40,572 | 2,127,190 |
Universal Display Corp. * | 63,952 | 3,306,318 |
USA Technologies, Inc. * | 56,300 | 253,350 |
ViaSat, Inc. * | 70,619 | 4,989,939 |
Viavi Solutions, Inc. * | 359,100 | 2,556,792 |
Vishay Intertechnology, Inc. | 212,428 | 2,995,235 |
Vishay Precision Group, Inc. * | 16,500 | 259,050 |
135,005,320 | ||
Telecommunication Services 0.7% | ||
ATN International, Inc. | 16,000 | 1,082,240 |
Boingo Wireless, Inc. * | 51,500 | 500,580 |
Cincinnati Bell, Inc. * | 68,129 | 1,338,735 |
Cogent Communications Holdings, Inc. | 65,300 | 2,409,570 |
Consolidated Communications Holdings, Inc. | 77,374 | 1,851,560 |
FairPoint Communications, Inc. * | 28,900 | 450,840 |
General Communication, Inc., Class A * | 46,100 | 730,224 |
Globalstar, Inc. *(b) | 578,889 | 535,820 |
Hawaiian Telcom Holdco, Inc. * | 9,713 | 199,311 |
IDT Corp., Class B | 25,400 | 454,406 |
Inteliquent, Inc. | 54,500 | 915,055 |
Intelsat S.A. * | 40,100 | 108,671 |
Iridium Communications, Inc. * | 133,700 | 1,089,655 |
Lumos Networks Corp. * | 37,200 | 528,612 |
NII Holdings, Inc. * | 81,100 | 198,695 |
ORBCOMM, Inc. * | 99,300 | 886,749 |
pdvWireless, Inc. *(b) | 15,305 | 361,198 |
Shenandoah Telecommunications Co. | 71,200 | 1,879,680 |
Spok Holdings, Inc. | 30,100 | 543,305 |
Straight Path Communications, Inc., Class B *(b) | 13,015 | 316,004 |
Vonage Holdings Corp. * | 292,300 | 2,005,178 |
Windstream Holdings, Inc. (b) | 149,664 | 1,174,862 |
19,560,950 | ||
Security | Number of Shares | Value ($) |
Transportation 1.5% | ||
Air Transport Services Group, Inc. * | 81,500 | 1,078,245 |
Allegiant Travel Co. | 20,381 | 2,810,540 |
ArcBest Corp. | 40,572 | 807,383 |
Atlas Air Worldwide Holdings, Inc. * | 37,500 | 1,569,375 |
Celadon Group, Inc. | 39,100 | 254,150 |
Costamare, Inc. | 40,200 | 261,300 |
Covenant Transport Group, Inc., Class A * | 21,294 | 340,491 |
Echo Global Logistics, Inc. * | 45,275 | 959,830 |
Forward Air Corp. | 46,382 | 1,916,504 |
Hawaiian Holdings, Inc. * | 83,700 | 3,768,592 |
Heartland Express, Inc. | 75,400 | 1,387,360 |
Hub Group, Inc., Class A * | 52,798 | 1,924,487 |
Knight Transportation, Inc. | 102,600 | 3,001,050 |
Marten Transport Ltd. | 35,365 | 724,983 |
Matson, Inc. | 65,831 | 2,629,290 |
P.A.M. Transportation Services, Inc. * | 4,000 | 78,800 |
Park-Ohio Holdings Corp. | 13,600 | 434,520 |
Radiant Logistics, Inc. * | 36,754 | 91,885 |
Roadrunner Transportation Systems, Inc. * | 40,900 | 310,840 |
Saia, Inc. * | 37,900 | 1,351,135 |
Scorpio Bulkers, Inc. *(b) | 89,575 | 349,343 |
SkyWest, Inc. | 80,412 | 2,424,422 |
Swift Transportation Co. * | 115,700 | 2,589,366 |
Universal Logistics Holdings, Inc. | 11,747 | 146,250 |
USA Truck, Inc. * | 14,200 | 116,866 |
Virgin America, Inc. * | 29,901 | 1,625,119 |
Werner Enterprises, Inc. | 67,949 | 1,634,173 |
XPO Logistics, Inc. * | 151,202 | 4,979,082 |
YRC Worldwide, Inc. * | 47,400 | 420,912 |
39,986,293 | ||
Utilities 3.9% | ||
ALLETE, Inc. | 78,199 | 4,792,817 |
American States Water Co. | 58,600 | 2,342,828 |
Artesian Resources Corp., Class A | 10,500 | 296,310 |
Atlantic Power Corp. | 168,800 | 388,240 |
Atlantica Yield plc | 92,484 | 1,662,862 |
Avista Corp. | 97,730 | 4,046,022 |
Black Hills Corp. | 79,298 | 4,904,581 |
California Water Service Group | 75,774 | 2,348,994 |
Chesapeake Utilities Corp. | 25,400 | 1,626,870 |
Connecticut Water Service, Inc. | 18,400 | 958,088 |
Consolidated Water Co., Ltd. | 20,376 | 228,211 |
Delta Natural Gas Co., Inc. | 12,200 | 287,310 |
Dynegy, Inc. * | 182,700 | 1,945,755 |
El Paso Electric Co. | 63,303 | 2,924,599 |
Genie Energy Ltd., Class B * | 16,911 | 88,106 |
Global Water Resources, Inc. (b) | 15,000 | 117,300 |
IDACORP, Inc. | 78,143 | 6,125,630 |
MGE Energy, Inc. | 53,840 | 3,146,948 |
Middlesex Water Co. | 26,185 | 945,279 |
New Jersey Resources Corp. | 136,500 | 4,634,175 |
Northwest Natural Gas Co. | 42,495 | 2,498,706 |
NorthWestern Corp. | 77,269 | 4,446,831 |
NRG Yield, Inc., Class A | 59,933 | 882,813 |
NRG Yield, Inc., Class C | 98,024 | 1,509,570 |
ONE Gas, Inc. | 80,200 | 4,914,656 |
Ormat Technologies, Inc. | 60,973 | 2,940,728 |
Otter Tail Corp. | 59,153 | 2,126,550 |
Pattern Energy Group, Inc. | 101,900 | 2,277,465 |
PNM Resources, Inc. | 125,400 | 4,119,390 |
Portland General Electric Co. | 141,108 | 6,157,953 |
SJW Corp. | 24,600 | 1,247,958 |
South Jersey Industries, Inc. | 124,920 | 3,703,878 |
Southwest Gas Corp. | 74,096 | 5,368,996 |
Security | Number of Shares | Value ($) |
Spark Energy, Inc., Class A | 7,900 | 191,180 |
Spire, Inc. | 68,471 | 4,299,979 |
Talen Energy Corp. * | 127,547 | 1,776,730 |
TerraForm Global, Inc., Class A * | 144,200 | 540,750 |
TerraForm Power, Inc., Class A * | 136,500 | 1,693,965 |
The Empire District Electric Co. | 70,300 | 2,406,369 |
The York Water Co. | 19,200 | 606,720 |
Unitil Corp. | 22,100 | 896,597 |
Vivint Solar, Inc. *(b) | 27,000 | 83,700 |
WGL Holdings, Inc. | 78,833 | 4,971,997 |
103,474,406 | ||
Total Common Stock | ||
(Cost $2,015,427,364) | 2,592,562,813 | |
Rights 0.0% of net assets | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Dyax Corp. CVR *(a)(f) | 224,713 | 249,431 |
Omthera Pharmaceutical CVR *(a)(f) | 8,400 | — |
249,431 | ||
Telecommunication Services 0.0% | ||
Leap Wireless CVR *(a)(f) | 84,700 | 254,100 |
Total Rights | ||
(Cost $462,875) | 503,531 | |
Other Investment Company 2.8% of net assets | ||
Securities Lending Collateral 2.8% | ||
Wells Fargo Government Money Market Fund, Select Class 0.32% (c) | 71,694,474 | 71,694,474 |
Total Other Investment Company | ||
(Cost $71,694,474) | 71,694,474 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investments 1.1% of net assets | ||
Time Deposits 1.1% | ||
ING Bank | ||
0.15%, 11/01/16 (e) | 3,034,612 | 3,034,612 |
Sumitomo Mitsui Banking Corp. | ||
0.15%, 11/01/16 (e) | 26,096,652 | 26,096,652 |
Total Short-Term Investments | ||
(Cost $29,131,264) | 29,131,264 |
At 10/31/16, the tax basis cost of the fund's investments was $2,131,133,184 and the unrealized appreciation and depreciation were $808,218,794 and ($245,459,896), respectively, with a net unrealized appreciation of $562,758,898.
* | Non-income producing security. |
(a) | Illiquid security. At the period end, the value of these amounted to $831,653 or 0.0% of net assets. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $69,176,152. |
(c) | The rate shown is the 7-day yield. |
(e) | The rate shown is the current daily overnight rate. |
(f) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
CVR — | Contingent Value Rights |
REIT — | Real Estate Investment Trust |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
Russell 2000 Index, mini, Long, expires 12/16/16 | 195 | 23,191,350 | (607,492) |
Holdings by Category | Cost ($) | Value ($) | |
99.4% | Common Stock | 3,091,955,361 | 4,822,321,992 |
0.0% | Rights | 67,393 | 73,410 |
0.4% | Other Investment Company | 19,726,894 | 19,726,894 |
0.5% | Short-Term Investment | 21,277,491 | 21,277,491 |
100.3% | Total Investments | 3,133,027,139 | 4,863,399,787 |
(0.3%) | Other Assets and Liabilities, Net | (12,976,513) | |
100.0% | Net Assets | 4,850,423,274 |
Security | Number of Shares | Value ($) |
Common Stock 99.4% of net assets | ||
Automobiles & Components 0.9% | ||
Adient plc * | 19,862 | 903,920 |
American Axle & Manufacturing Holdings, Inc. * | 13,400 | 240,128 |
Autoliv, Inc. | 18,600 | 1,800,108 |
BorgWarner, Inc. | 44,800 | 1,605,632 |
Cooper Tire & Rubber Co. | 8,900 | 327,075 |
Cooper-Standard Holding, Inc. * | 5,400 | 492,858 |
Dana, Inc. | 35,200 | 544,896 |
Delphi Automotive plc | 55,685 | 3,623,423 |
Dorman Products, Inc. * | 8,900 | 571,736 |
Drew Industries, Inc. | 5,400 | 483,570 |
Federal-Mogul Holdings Corp. * | 22,200 | 205,572 |
Ford Motor Co. | 848,040 | 9,955,989 |
General Motors Co. | 295,685 | 9,343,646 |
Gentex Corp. | 59,600 | 1,007,836 |
Gentherm, Inc. * | 13,007 | 366,147 |
Harley-Davidson, Inc. | 42,093 | 2,400,143 |
Horizon Global Corp. * | 3,717 | 74,489 |
Lear Corp. | 14,000 | 1,718,920 |
Modine Manufacturing Co. * | 12,100 | 132,495 |
Motorcar Parts of America, Inc. * | 13,800 | 362,112 |
Standard Motor Products, Inc. | 7,500 | 366,750 |
Stoneridge, Inc. * | 13,100 | 194,142 |
Strattec Security Corp. | 1,500 | 53,250 |
Tenneco, Inc. * | 10,080 | 555,105 |
Tesla Motors, Inc. *(c) | 25,494 | 5,040,929 |
The Goodyear Tire & Rubber Co. | 53,637 | 1,557,082 |
Thor Industries, Inc. | 7,500 | 594,825 |
Tower International, Inc. | 5,564 | 120,739 |
Visteon Corp. | 8,000 | 564,880 |
VOXX International Corp. * | 9,100 | 37,310 |
Winnebago Industries, Inc. | 7,400 | 209,050 |
45,454,757 | ||
Banks 6.0% | ||
1st Source Corp. | 6,080 | 210,125 |
Ameris Bancorp | 6,348 | 230,432 |
Arrow Financial Corp. | 12,386 | 391,398 |
Associated Banc-Corp. | 25,000 | 507,500 |
Astoria Financial Corp. | 19,300 | 282,359 |
Banc of California, Inc. | 15,000 | 199,500 |
Security | Number of Shares | Value ($) |
BancFirst Corp. | 2,300 | 164,910 |
BancorpSouth, Inc. | 16,112 | 378,632 |
Bank Mutual Corp. | 18,268 | 142,490 |
Bank of America Corp. | 2,200,301 | 36,304,966 |
Bank of Hawaii Corp. | 10,000 | 751,500 |
Bank of the Ozarks, Inc. | 22,800 | 842,688 |
BankUnited, Inc. | 26,896 | 783,749 |
Banner Corp. | 5,571 | 251,475 |
BB&T Corp. | 172,807 | 6,774,034 |
Beneficial Bancorp, Inc. | 29,899 | 433,536 |
Berkshire Hills Bancorp, Inc. | 8,000 | 236,400 |
BNC Bancorp | 11,012 | 274,199 |
BofI Holding, Inc. *(c) | 20,000 | 372,600 |
BOK Financial Corp. | 3,740 | 265,615 |
Boston Private Financial Holdings, Inc. | 20,729 | 272,586 |
Brookline Bancorp, Inc. | 33,705 | 431,424 |
Bryn Mawr Bank Corp. | 3,400 | 106,760 |
Camden National Corp. | 3,750 | 123,825 |
Capital Bank Financial Corp., Class A | 10,300 | 337,325 |
Capital City Bank Group, Inc. | 6,875 | 103,400 |
Capitol Federal Financial, Inc. | 21,963 | 322,197 |
Cardinal Financial Corp. | 3,700 | 97,236 |
Cathay General Bancorp | 16,006 | 479,380 |
CenterState Banks, Inc. | 17,590 | 328,581 |
Central Pacific Financial Corp. | 10,269 | 263,194 |
Century Bancorp, Inc., Class A | 800 | 36,280 |
Chemical Financial Corp. | 15,770 | 677,322 |
CIT Group, Inc. | 38,200 | 1,387,806 |
Citigroup, Inc. | 631,689 | 31,047,514 |
Citizens Financial Group, Inc. | 123,800 | 3,260,892 |
City Holding Co. | 4,800 | 250,896 |
Columbia Banking System, Inc. | 9,951 | 328,582 |
Comerica, Inc. | 39,159 | 2,039,792 |
Commerce Bancshares, Inc. | 19,507 | 971,839 |
Community Bank System, Inc. | 15,800 | 744,338 |
Community Trust Bancorp, Inc. | 10,335 | 377,744 |
ConnectOne Bancorp, Inc. | 32,600 | 598,210 |
Cullen/Frost Bankers, Inc. | 12,600 | 957,474 |
Customers Bancorp, Inc. * | 24,200 | 655,094 |
CVB Financial Corp. | 19,411 | 325,717 |
Dime Community Bancshares, Inc. | 6,875 | 111,375 |
Eagle Bancorp, Inc. * | 5,760 | 283,104 |
East West Bancorp, Inc. | 29,100 | 1,149,741 |
Enterprise Financial Services Corp. | 7,400 | 244,940 |
Essent Group Ltd. * | 14,900 | 393,956 |
EverBank Financial Corp. | 35,300 | 681,643 |
F.N.B. Corp. | 47,061 | 615,087 |
FCB Financial Holdings, Inc., Class A * | 20,600 | 768,380 |
Fifth Third Bancorp | 166,314 | 3,618,993 |
First BanCorp (Puerto Rico) * | 56,579 | 290,250 |
First Busey Corp. | 6,733 | 155,600 |
First Citizens BancShares, Inc., Class A | 1,900 | 552,900 |
First Commonwealth Financial Corp. | 24,904 | 253,025 |
First Financial Bancorp | 10,339 | 222,289 |
First Financial Bankshares, Inc. | 18,200 | 658,840 |
First Financial Corp. | 2,600 | 104,260 |
First Horizon National Corp. | 66,116 | 1,018,848 |
First Interstate BancSystem, Inc., Class A | 8,900 | 283,910 |
First Merchants Corp. | 9,041 | 254,504 |
Security | Number of Shares | Value ($) |
First Midwest Bancorp, Inc. | 15,825 | 305,581 |
First Republic Bank | 33,724 | 2,510,077 |
First United Corp. * | 2,200 | 25,740 |
Flagstar Bancorp, Inc. * | 8,060 | 221,086 |
Flushing Financial Corp. | 6,800 | 145,656 |
Fulton Financial Corp. | 28,262 | 421,104 |
Glacier Bancorp, Inc. | 10,497 | 296,645 |
Great Southern Bancorp, Inc. | 3,400 | 140,590 |
Great Western Bancorp, Inc. | 13,000 | 419,120 |
Hancock Holding Co. | 12,344 | 414,141 |
Hanmi Financial Corp. | 7,000 | 175,000 |
Heartland Financial USA, Inc. | 2,500 | 93,625 |
Heritage Financial Corp. | 6,135 | 112,884 |
Hilltop Holdings, Inc. * | 14,975 | 369,883 |
Home BancShares, Inc. | 23,000 | 494,730 |
Hope Bancorp, Inc. | 26,063 | 420,657 |
Huntington Bancshares, Inc. | 224,036 | 2,374,782 |
IBERIABANK Corp. | 6,075 | 398,824 |
Impac Mortgage Holdings, Inc. * | 15,600 | 247,260 |
Independent Bank Corp., Massachusetts | 5,700 | 314,355 |
Independent Bank Corp., Michigan | 16,731 | 281,081 |
International Bancshares Corp. | 13,484 | 415,981 |
Investors Bancorp, Inc. | 78,997 | 968,503 |
JPMorgan Chase & Co. | 777,963 | 53,881,717 |
Kearny Financial Corp. | 12,423 | 173,301 |
KeyCorp | 245,546 | 3,467,110 |
Lakeland Financial Corp. | 5,550 | 204,462 |
LegacyTexas Financial Group, Inc. | 8,700 | 297,627 |
LendingTree, Inc. *(c) | 2,444 | 195,153 |
M&T Bank Corp. | 35,266 | 4,328,196 |
MainSource Financial Group, Inc. | 5,535 | 138,154 |
MB Financial, Inc. | 13,857 | 504,256 |
Merchants Bancshares, Inc. | 3,650 | 156,950 |
MGIC Investment Corp. * | 102,800 | 838,848 |
MutualFirst Financial, Inc. | 2,000 | 54,700 |
National Bank Holdings Corp., Class A | 12,800 | 311,552 |
Nationstar Mortgage Holdings, Inc. * | 10,200 | 154,122 |
NBT Bancorp, Inc. | 11,500 | 387,665 |
New York Community Bancorp, Inc. | 114,285 | 1,641,133 |
Northfield Bancorp, Inc. | 15,765 | 259,334 |
Northrim BanCorp, Inc. | 4,281 | 105,099 |
Northwest Bancshares, Inc. | 19,350 | 304,569 |
OceanFirst Financial Corp. | 7,150 | 147,862 |
Ocwen Financial Corp. * | 18,620 | 79,507 |
OFG Bancorp | 8,163 | 86,936 |
Old National Bancorp | 16,800 | 246,960 |
Oritani Financial Corp. | 6,000 | 93,900 |
Pacific Premier Bancorp, Inc. * | 24,000 | 620,400 |
PacWest Bancorp | 24,833 | 1,077,504 |
Park National Corp. | 4,845 | 469,626 |
People's United Financial, Inc. | 79,087 | 1,284,373 |
Peoples Financial Corp. * | 3,000 | 31,500 |
PHH Corp. * | 22,086 | 320,689 |
Pinnacle Financial Partners, Inc. | 6,475 | 334,110 |
Popular, Inc. | 19,720 | 715,836 |
Premier Financial Bancorp, Inc. | 2,645 | 44,489 |
PrivateBancorp, Inc. | 21,000 | 950,040 |
Prosperity Bancshares, Inc. | 17,300 | 959,631 |
Provident Financial Holdings, Inc. | 4,350 | 82,998 |
Provident Financial Services, Inc. | 14,017 | 318,046 |
Radian Group, Inc. | 51,000 | 693,090 |
Regions Financial Corp. | 273,873 | 2,933,180 |
Renasant Corp. | 8,910 | 300,623 |
Republic Bancorp, Inc., Class A | 6,521 | 206,324 |
S&T Bancorp, Inc. | 12,400 | 389,236 |
Sandy Spring Bancorp, Inc. | 5,900 | 187,030 |
Seacoast Banking Corp. of Florida * | 3,936 | 68,526 |
ServisFirst Bancshares, Inc. | 5,000 | 270,700 |
Security | Number of Shares | Value ($) |
Shore Bancshares, Inc. | 1,250 | 15,963 |
Signature Bank * | 11,500 | 1,386,440 |
Simmons First National Corp., Class A | 11,900 | 587,265 |
South State Corp. | 5,584 | 409,586 |
Southside Bancshares, Inc. | 5,226 | 170,472 |
Southwest Bancorp, Inc. | 7,800 | 145,470 |
State Bank Financial Corp. | 6,200 | 136,710 |
Sterling Bancorp | 19,185 | 345,330 |
Stock Yards Bancorp, Inc. | 5,505 | 187,721 |
Suffolk Bancorp | 4,600 | 165,600 |
Sun Bancorp, Inc. | 3,863 | 88,849 |
SunTrust Banks, Inc. | 106,857 | 4,833,142 |
SVB Financial Group * | 11,800 | 1,442,786 |
Synovus Financial Corp. | 28,042 | 927,349 |
TCF Financial Corp. | 32,100 | 459,030 |
Texas Capital Bancshares, Inc. * | 7,800 | 462,540 |
TFS Financial Corp. | 34,200 | 609,444 |
The First of Long Island Corp. | 6,000 | 191,700 |
The PNC Financial Services Group, Inc. | 105,342 | 10,070,695 |
Timberland Bancorp, Inc. | 2,000 | 32,920 |
Tompkins Financial Corp. | 4,024 | 319,023 |
Towne Bank | 21,600 | 535,680 |
TriCo Bancshares | 5,682 | 149,550 |
TrustCo Bank Corp. | 20,657 | 144,599 |
Trustmark Corp. | 24,262 | 671,572 |
U.S. Bancorp | 341,837 | 15,300,624 |
UMB Financial Corp. | 7,774 | 482,377 |
Umpqua Holdings Corp. | 51,951 | 793,811 |
Union Bankshares Corp. | 12,893 | 360,101 |
United Bankshares, Inc. | 12,300 | 463,710 |
United Community Banks, Inc. | 11,678 | 251,894 |
United Financial Bancorp, Inc. | 14,699 | 216,222 |
Valley National Bancorp | 77,242 | 761,606 |
Walker & Dunlop, Inc. * | 9,700 | 233,479 |
Walter Investment Management Corp. * | 5,325 | 26,625 |
Washington Federal, Inc. | 14,942 | 407,170 |
Washington Trust Bancorp, Inc. | 3,600 | 165,240 |
Webster Financial Corp. | 21,963 | 887,305 |
Wells Fargo & Co. | 977,413 | 44,970,772 |
WesBanco, Inc. | 7,756 | 255,250 |
Westamerica Bancorp | 5,200 | 257,712 |
Western Alliance Bancorp * | 16,600 | 620,176 |
Wintrust Financial Corp. | 8,900 | 480,155 |
WSFS Financial Corp. | 6,000 | 210,300 |
Yadkin Financial Corp. | 9,200 | 255,208 |
Zions Bancorp | 42,725 | 1,376,172 |
293,134,875 | ||
Capital Goods 7.5% | ||
3M Co. | 131,557 | 21,746,372 |
A.O. Smith Corp. | 35,000 | 1,580,950 |
AAON, Inc. | 10,279 | 307,856 |
AAR Corp. | 8,400 | 270,228 |
Actuant Corp., Class A | 10,280 | 229,244 |
Acuity Brands, Inc. | 9,100 | 2,034,487 |
AECOM * | 31,725 | 883,541 |
Aegion Corp. * | 4,300 | 79,593 |
Aerojet Rocketdyne Holdings, Inc. * | 11,600 | 204,160 |
Aerovironment, Inc. * | 4,200 | 100,758 |
AGCO Corp. | 15,462 | 789,799 |
Air Lease Corp. | 17,400 | 526,524 |
Aircastle Ltd. | 14,100 | 289,755 |
Alamo Group, Inc. | 2,500 | 162,300 |
Albany International Corp., Class A | 6,718 | 273,759 |
Alcoa, Inc. | 97,499 | 2,800,171 |
Allegion plc | 17,433 | 1,112,923 |
Allison Transmission Holdings, Inc. | 38,555 | 1,129,276 |
Security | Number of Shares | Value ($) |
Altra Industrial Motion Corp. | 4,300 | 126,850 |
American Railcar Industries, Inc. | 4,500 | 165,510 |
American Woodmark Corp. * | 4,000 | 298,800 |
AMETEK, Inc. | 50,659 | 2,234,062 |
Apogee Enterprises, Inc. | 6,600 | 268,950 |
Applied Industrial Technologies, Inc. | 6,525 | 331,470 |
Armstrong Flooring, Inc. * | 4,247 | 68,759 |
Armstrong World Industries, Inc. * | 8,495 | 318,563 |
Astec Industries, Inc. | 5,700 | 315,552 |
Astronics Corp. * | 2,550 | 94,401 |
Astronics Corp., Class B * | 382 | 14,134 |
AZZ, Inc. | 5,700 | 303,525 |
B/E Aerospace, Inc. | 22,900 | 1,363,008 |
Babcock & Wilcox Enterprises, Inc. * | 8,700 | 136,938 |
Barnes Group, Inc. | 11,200 | 446,208 |
Beacon Roofing Supply, Inc. * | 16,100 | 676,844 |
BMC Stock Holdings, Inc. * | 31,400 | 519,670 |
Briggs & Stratton Corp. | 11,400 | 212,268 |
Builders FirstSource, Inc. * | 17,100 | 165,357 |
BWX Technologies, Inc. | 24,900 | 976,578 |
Carlisle Cos., Inc. | 15,000 | 1,572,750 |
Caterpillar, Inc. | 126,269 | 10,538,411 |
Chart Industries, Inc. * | 4,400 | 122,056 |
Chicago Bridge & Iron Co., N.V. | 17,800 | 569,956 |
CIRCOR International, Inc. | 3,750 | 201,675 |
CLARCOR, Inc. | 14,800 | 920,708 |
Colfax Corp. * | 32,600 | 1,036,354 |
Columbus McKinnon Corp. | 4,300 | 83,807 |
Comfort Systems USA, Inc. | 7,700 | 222,145 |
Crane Co. | 13,000 | 884,130 |
Cubic Corp. | 4,500 | 192,150 |
Cummins, Inc. | 32,400 | 4,141,368 |
Curtiss-Wright Corp. | 9,100 | 815,542 |
Deere & Co. | 63,754 | 5,629,478 |
DigitalGlobe, Inc. * | 12,322 | 309,282 |
Donaldson Co., Inc. | 36,200 | 1,322,024 |
Dover Corp. | 38,161 | 2,552,589 |
Ducommun, Inc. * | 3,200 | 60,928 |
DXP Enterprises, Inc. * | 1,700 | 37,043 |
Dycom Industries, Inc. * | 5,300 | 407,729 |
Dynamic Materials Corp. | 6,800 | 73,780 |
Eaton Corp. plc | 99,177 | 6,324,517 |
EMCOR Group, Inc. | 12,700 | 767,842 |
Emerson Electric Co. | 137,908 | 6,989,177 |
Encore Wire Corp. | 4,600 | 157,090 |
EnerSys | 7,500 | 488,475 |
Engility Holdings, Inc. * | 4,116 | 118,253 |
EnPro Industries, Inc. | 4,900 | 265,188 |
ESCO Technologies, Inc. | 3,900 | 173,745 |
Esterline Technologies Corp. * | 5,900 | 433,355 |
Fastenal Co. | 56,432 | 2,199,719 |
Federal Signal Corp. | 12,800 | 157,184 |
Flowserve Corp. | 27,700 | 1,173,095 |
Fluor Corp. | 28,519 | 1,482,703 |
Fortive Corp. | 62,287 | 3,179,751 |
Fortune Brands Home & Security, Inc. | 35,900 | 1,961,217 |
Franklin Electric Co., Inc. | 9,700 | 353,565 |
FreightCar America, Inc. | 2,500 | 32,650 |
FuelCell Energy, Inc. *(c) | 43,250 | 144,888 |
GATX Corp. | 8,900 | 389,553 |
Generac Holdings, Inc. * | 12,500 | 476,125 |
General Cable Corp. | 6,700 | 93,800 |
General Dynamics Corp. | 60,800 | 9,164,992 |
General Electric Co. | 1,933,100 | 56,253,210 |
Gibraltar Industries, Inc. * | 6,300 | 245,070 |
Graco, Inc. | 10,812 | 809,819 |
Granite Construction, Inc. | 8,150 | 400,654 |
Great Lakes Dredge & Dock Corp. * | 11,600 | 41,180 |
Security | Number of Shares | Value ($) |
Griffon Corp. | 15,100 | 252,170 |
H&E Equipment Services, Inc. | 6,800 | 94,860 |
Hardinge, Inc. | 4,800 | 46,560 |
Harsco Corp. | 11,300 | 110,175 |
HD Supply Holdings, Inc. * | 51,900 | 1,712,700 |
HEICO Corp. | 5,175 | 349,623 |
HEICO Corp., Class A | 6,000 | 360,000 |
Herc Holdings, Inc. * | 5,820 | 175,124 |
Hexcel Corp. | 21,200 | 964,388 |
Hillenbrand, Inc. | 17,800 | 540,230 |
Honeywell International, Inc. | 165,180 | 18,116,942 |
Hubbell, Inc. | 11,300 | 1,181,076 |
Huntington Ingalls Industries, Inc. | 10,672 | 1,722,034 |
Hyster-Yale Materials Handling, Inc. | 2,300 | 133,883 |
IDEX Corp. | 19,025 | 1,644,521 |
IES Holdings, Inc. * | 5,105 | 76,320 |
Illinois Tool Works, Inc. | 67,100 | 7,620,547 |
Ingersoll-Rand plc | 55,600 | 3,741,324 |
ITT, Inc. | 15,000 | 528,300 |
Jacobs Engineering Group, Inc. * | 21,700 | 1,119,286 |
John Bean Technologies Corp. | 4,983 | 397,893 |
Johnson Controls International plc | 198,621 | 8,008,399 |
Joy Global, Inc. | 17,550 | 488,416 |
Kadant, Inc. | 3,001 | 155,002 |
Kaman Corp. | 5,700 | 248,862 |
KBR, Inc. | 24,000 | 355,440 |
Kennametal, Inc. | 14,700 | 416,157 |
KLX, Inc. * | 21,600 | 743,472 |
Kratos Defense & Security Solutions, Inc. * | 10,180 | 57,212 |
L-3 Communications Holdings, Inc. | 16,200 | 2,218,428 |
L.B. Foster Co., Class A | 1,400 | 17,360 |
Lawson Products, Inc. * | 5,500 | 103,675 |
Layne Christensen Co. * | 4,500 | 38,565 |
Lennox International, Inc. | 7,471 | 1,089,944 |
Lincoln Electric Holdings, Inc. | 13,600 | 895,288 |
Lindsay Corp. | 3,100 | 242,730 |
Lockheed Martin Corp. | 55,535 | 13,682,713 |
Lydall, Inc. * | 5,500 | 257,125 |
Manitowoc Foodservice, Inc. * | 23,200 | 350,552 |
Masco Corp. | 69,200 | 2,136,896 |
Masonite International Corp. * | 12,700 | 722,630 |
MasTec, Inc. * | 15,750 | 449,663 |
Mercury Systems, Inc. * | 7,800 | 216,684 |
Meritor, Inc. * | 22,600 | 232,328 |
Moog, Inc., Class A * | 7,587 | 440,577 |
MRC Global, Inc. * | 15,600 | 229,944 |
MSC Industrial Direct Co., Inc., Class A | 12,000 | 873,600 |
Mueller Industries, Inc. | 11,800 | 357,422 |
Mueller Water Products, Inc., Class A | 23,139 | 285,072 |
MYR Group, Inc. * | 8,500 | 253,640 |
National Presto Industries, Inc. | 2,900 | 253,025 |
Navistar International Corp. * | 11,600 | 258,680 |
NCI Building Systems, Inc. * | 14,480 | 208,512 |
NN, Inc. | 1,800 | 31,770 |
Nordson Corp. | 9,500 | 951,235 |
Northrop Grumman Corp. | 37,659 | 8,623,911 |
NOW, Inc. * | 18,205 | 392,500 |
Omega Flex, Inc. | 700 | 26,621 |
Orbital ATK, Inc. | 14,394 | 1,070,338 |
Oshkosh Corp. | 14,300 | 765,050 |
Owens Corning | 26,800 | 1,307,304 |
PACCAR, Inc. | 75,022 | 4,120,208 |
Parker-Hannifin Corp. | 26,900 | 3,301,975 |
Pentair plc | 42,885 | 2,364,250 |
PGT, Inc. * | 10,000 | 98,000 |
Powell Industries, Inc. | 2,800 | 99,092 |
Preformed Line Products Co. | 1,000 | 43,020 |
Primoris Services Corp. | 6,900 | 138,207 |
Security | Number of Shares | Value ($) |
Proto Labs, Inc. * | 4,800 | 214,560 |
Quanex Building Products Corp. | 6,125 | 99,838 |
Quanta Services, Inc. * | 46,271 | 1,330,291 |
Raven Industries, Inc. | 5,600 | 120,120 |
Raytheon Co. | 62,177 | 8,494,000 |
RBC Bearings, Inc. * | 6,000 | 428,100 |
Regal Beloit Corp. | 8,700 | 514,170 |
Rexnord Corp. * | 29,900 | 594,711 |
Rockwell Automation, Inc. | 28,431 | 3,403,759 |
Rockwell Collins, Inc. | 27,200 | 2,293,504 |
Roper Technologies, Inc. | 20,959 | 3,632,404 |
Rush Enterprises, Inc., Class A * | 8,200 | 215,250 |
Sensata Technologies Holding N.V. * | 34,800 | 1,243,404 |
Simpson Manufacturing Co., Inc. | 6,200 | 265,360 |
Snap-on, Inc. | 12,280 | 1,892,348 |
SolarCity Corp. *(c) | 13,500 | 264,600 |
Spirit AeroSystems Holdings, Inc., Class A * | 31,100 | 1,566,196 |
SPX Corp. * | 7,110 | 135,161 |
SPX FLOW, Inc. * | 7,110 | 178,390 |
Standex International Corp. | 3,000 | 229,200 |
Stanley Black & Decker, Inc. | 32,213 | 3,667,128 |
Sun Hydraulics Corp. | 5,600 | 164,808 |
TASER International, Inc. * | 11,800 | 264,084 |
Teledyne Technologies, Inc. * | 6,757 | 727,594 |
Tennant Co. | 4,200 | 264,390 |
Terex Corp. | 18,400 | 439,392 |
Textainer Group Holdings Ltd. | 9,500 | 72,200 |
Textron, Inc. | 56,100 | 2,248,488 |
The Boeing Co. | 126,236 | 17,979,793 |
The Gorman-Rupp Co. | 5,141 | 123,487 |
The Greenbrier Cos., Inc. (c) | 5,800 | 182,700 |
The KEYW Holding Corp. * | 8,400 | 88,116 |
The Manitowoc Co., Inc. | 23,200 | 93,728 |
The Middleby Corp. * | 11,500 | 1,289,265 |
The Timken Co. | 13,100 | 432,955 |
The Toro Co. | 21,200 | 1,015,056 |
Thermon Group Holdings, Inc. * | 9,500 | 174,135 |
Titan International, Inc. | 6,925 | 70,566 |
Titan Machinery, Inc. * | 3,600 | 33,444 |
TransDigm Group, Inc. * | 11,800 | 3,215,028 |
Trex Co., Inc. * | 5,400 | 290,574 |
TriMas Corp. * | 9,293 | 166,809 |
Trinity Industries, Inc. | 28,300 | 604,205 |
Triton International Ltd. | 6,000 | 72,420 |
Triumph Group, Inc. | 8,100 | 191,970 |
Tutor Perini Corp. * | 7,100 | 135,255 |
United Rentals, Inc. * | 18,900 | 1,429,974 |
United Technologies Corp. | 164,998 | 16,862,796 |
Univar, Inc. * | 36,700 | 816,575 |
Universal Forest Products, Inc. | 4,600 | 395,554 |
USG Corp. * | 28,300 | 712,594 |
Valmont Industries, Inc. | 4,300 | 550,185 |
Vectrus, Inc. * | 1,938 | 32,500 |
Veritiv Corp. * | 1,466 | 79,091 |
Vicor Corp. * | 9,900 | 126,225 |
W.W. Grainger, Inc. | 12,100 | 2,518,252 |
Wabash National Corp. * | 11,200 | 126,000 |
WABCO Holdings, Inc. * | 10,233 | 1,007,541 |
Wabtec Corp. | 19,456 | 1,504,143 |
Watsco, Inc. | 6,800 | 933,572 |
Watts Water Technologies, Inc., Class A | 11,800 | 708,000 |
Wesco Aircraft Holdings, Inc. * | 13,500 | 173,475 |
WESCO International, Inc. * | 8,100 | 439,020 |
Woodward, Inc. | 10,500 | 619,290 |
Xylem, Inc. | 41,800 | 2,020,194 |
362,217,252 | ||
Security | Number of Shares | Value ($) |
Commercial & Professional Supplies 0.9% | ||
ABM Industries, Inc. | 13,900 | 543,212 |
Acacia Research Corp. | 15,600 | 91,260 |
ACCO Brands Corp. * | 42,001 | 466,211 |
ARC Document Solutions, Inc. * | 7,000 | 24,010 |
Brady Corp., Class A | 6,400 | 211,840 |
Casella Waste Systems, Inc., Class A * | 13,300 | 148,960 |
CDI Corp. | 5,500 | 33,825 |
CEB, Inc. | 5,500 | 267,575 |
Cintas Corp. | 19,650 | 2,096,065 |
Clean Harbors, Inc. * | 10,900 | 515,788 |
CompX International, Inc. | 2,000 | 22,300 |
Copart, Inc. * | 27,218 | 1,428,128 |
Covanta Holding Corp. | 26,400 | 396,000 |
CRA International, Inc. * | 4,200 | 130,788 |
Deluxe Corp. | 12,100 | 740,520 |
Ennis, Inc. | 6,500 | 95,225 |
Equifax, Inc. | 23,895 | 2,962,263 |
Essendant, Inc. | 5,800 | 89,030 |
Exponent, Inc. | 6,600 | 377,850 |
FTI Consulting, Inc. * | 5,700 | 222,072 |
G&K Services, Inc., Class A | 4,100 | 388,270 |
GP Strategies Corp. * | 1,500 | 38,775 |
Healthcare Services Group, Inc. | 20,256 | 748,864 |
Heidrick & Struggles International, Inc. | 5,000 | 92,500 |
Herman Miller, Inc. | 8,700 | 241,860 |
HNI Corp. | 12,700 | 516,382 |
Huron Consulting Group, Inc. * | 5,000 | 280,250 |
ICF International, Inc. * | 6,500 | 301,600 |
IHS Markit Ltd. * | 71,360 | 2,625,334 |
InnerWorkings, Inc. * | 7,400 | 65,194 |
Insperity, Inc. | 6,800 | 511,360 |
Interface, Inc. | 8,400 | 133,140 |
KAR Auction Services, Inc. | 29,400 | 1,251,852 |
Kelly Services, Inc., Class A | 5,700 | 106,761 |
Kforce, Inc. | 7,105 | 123,272 |
Kimball International, Inc., Class B | 9,100 | 113,750 |
Knoll, Inc. | 7,000 | 151,480 |
Korn/Ferry International | 6,600 | 134,574 |
LSC Communications, Inc. * | 4,579 | 110,995 |
ManpowerGroup, Inc. | 14,537 | 1,116,442 |
Mastech Digital, Inc. * | 675 | 4,992 |
Matthews International Corp., Class A | 5,300 | 317,470 |
McGrath RentCorp | 4,600 | 138,460 |
Mistras Group, Inc. * | 4,000 | 83,760 |
Mobile Mini, Inc. | 14,700 | 372,645 |
MSA Safety, Inc. | 8,700 | 507,210 |
Multi-Color Corp. | 4,625 | 300,278 |
Navigant Consulting, Inc. * | 14,000 | 327,600 |
Nielsen Holdings plc | 75,100 | 3,381,002 |
NL Industries, Inc. * | 7,800 | 24,960 |
On Assignment, Inc. * | 6,500 | 223,665 |
Performant Financial Corp. * | 7,700 | 23,023 |
Pitney Bowes, Inc. | 35,500 | 633,320 |
Quad Graphics, Inc. | 9,800 | 232,848 |
Republic Services, Inc. | 47,845 | 2,518,082 |
Resources Connection, Inc. | 11,300 | 167,805 |
Robert Half International, Inc. | 26,900 | 1,006,598 |
Rollins, Inc. | 21,927 | 675,790 |
RPX Corp. * | 10,300 | 100,528 |
RR Donnelley & Sons Co. | 12,212 | 216,763 |
Steelcase, Inc., Class A | 11,500 | 153,525 |
Stericycle, Inc. * | 19,900 | 1,593,791 |
Team, Inc. * | 4,548 | 139,851 |
Tetra Tech, Inc. | 13,131 | 504,887 |
The Advisory Board Co. * | 13,800 | 549,240 |
The Brink's Co. | 7,100 | 280,805 |
Security | Number of Shares | Value ($) |
The Dun & Bradstreet Corp. | 7,840 | 978,824 |
TransUnion * | 16,900 | 527,956 |
TRC Cos., Inc. * | 3,350 | 27,303 |
TriNet Group, Inc. * | 11,600 | 217,732 |
TrueBlue, Inc. * | 10,100 | 176,750 |
UniFirst Corp. | 3,700 | 453,250 |
US Ecology, Inc. | 3,500 | 147,875 |
Verisk Analytics, Inc. * | 31,000 | 2,528,050 |
Viad Corp. | 3,625 | 150,437 |
Virco Manufacturing Corp. * | 1,170 | 4,973 |
WageWorks, Inc. * | 11,900 | 701,505 |
Waste Management, Inc. | 84,110 | 5,522,663 |
West Corp. | 11,812 | 232,933 |
46,064,726 | ||
Consumer Durables & Apparel 1.5% | ||
Arctic Cat, Inc. | 2,400 | 35,976 |
Beazer Homes USA, Inc. * | 10,835 | 110,842 |
Brunswick Corp. | 18,400 | 800,400 |
CalAtlantic Group, Inc. | 12,527 | 404,873 |
Callaway Golf Co. | 31,065 | 317,174 |
Carter's, Inc. | 9,400 | 811,596 |
Cavco Industries, Inc. * | 1,610 | 148,764 |
Coach, Inc. | 66,208 | 2,376,205 |
Columbia Sportswear Co. | 6,900 | 390,816 |
Crocs, Inc. * | 15,000 | 115,350 |
CSS Industries, Inc. | 4,800 | 120,480 |
D.R. Horton, Inc. | 74,190 | 2,138,898 |
Deckers Outdoor Corp. * | 7,500 | 391,425 |
Ethan Allen Interiors, Inc. | 10,200 | 313,140 |
Flexsteel Industries, Inc. | 1,900 | 79,610 |
Foamex International, Inc. *(b)(f) | 2,278 | — |
Fossil Group, Inc. * | 7,662 | 208,943 |
G-III Apparel Group Ltd. * | 11,300 | 295,156 |
Garmin Ltd. | 22,300 | 1,078,428 |
GoPro, Inc., Class A *(c) | 20,000 | 255,600 |
Hanesbrands, Inc. | 78,188 | 2,009,432 |
Harman International Industries, Inc. | 17,000 | 1,355,070 |
Hasbro, Inc. | 22,600 | 1,885,066 |
Helen of Troy Ltd. * | 5,000 | 407,500 |
Hovnanian Enterprises, Inc., Class A * | 50,500 | 78,780 |
Iconix Brand Group, Inc. * | 9,600 | 75,648 |
iRobot Corp. * | 7,300 | 370,110 |
JAKKS Pacific, Inc. *(c) | 7,500 | 50,250 |
Kate Spade & Co. * | 27,500 | 460,625 |
KB Home | 19,700 | 286,438 |
La-Z-Boy, Inc. | 7,500 | 175,500 |
Leggett & Platt, Inc. | 28,300 | 1,298,404 |
Lennar Corp., Class A | 36,290 | 1,512,930 |
Libbey, Inc. | 7,232 | 115,784 |
lululemon athletica, Inc. * | 23,957 | 1,371,538 |
M.D.C. Holdings, Inc. | 9,003 | 213,461 |
M/I Homes, Inc. * | 3,000 | 64,530 |
Marine Products Corp. | 405 | 3,787 |
Mattel, Inc. | 76,700 | 2,418,351 |
Meritage Homes Corp. * | 15,000 | 464,250 |
Michael Kors Holdings Ltd. * | 38,700 | 1,965,186 |
Mohawk Industries, Inc. * | 13,619 | 2,509,982 |
Movado Group, Inc. | 5,800 | 127,890 |
NACCO Industries, Inc., Class A | 1,900 | 138,985 |
Nautilus, Inc. * | 9,825 | 172,920 |
Newell Brands, Inc. | 108,101 | 5,191,010 |
NIKE, Inc., Class B | 288,690 | 14,486,464 |
Nova Lifestyle, Inc. * | 57,200 | 205,920 |
NVR, Inc. * | 700 | 1,066,100 |
Oxford Industries, Inc. | 2,500 | 156,800 |
Perry Ellis International, Inc. * | 5,500 | 102,245 |
Security | Number of Shares | Value ($) |
Polaris Industries, Inc. (c) | 11,781 | 902,542 |
PulteGroup, Inc. | 68,976 | 1,282,954 |
PVH Corp. | 16,411 | 1,755,649 |
Ralph Lauren Corp. | 12,400 | 1,216,440 |
Sequential Brands Group, Inc. *(c) | 18,160 | 130,752 |
Skechers U.S.A., Inc., Class A * | 25,800 | 542,574 |
Skyline Corp. * | 2,600 | 30,082 |
Smith & Wesson Holding Corp. * | 12,400 | 327,732 |
Stanley Furniture Co., Inc. | 6,875 | 9,487 |
Steven Madden Ltd. * | 14,112 | 471,341 |
Sturm, Ruger & Co., Inc. | 2,700 | 166,050 |
Superior Uniform Group, Inc. | 3,200 | 56,928 |
Taylor Morrison Home Corp., Class A * | 9,876 | 168,484 |
Tempur Sealy International, Inc. * | 13,900 | 751,573 |
Toll Brothers, Inc. * | 31,200 | 856,128 |
TopBuild Corp. * | 7,688 | 231,639 |
TRI Pointe Group, Inc. * | 25,000 | 270,750 |
Tupperware Brands Corp. | 9,700 | 577,344 |
Under Armour, Inc., Class A *(c) | 37,400 | 1,163,140 |
Under Armour, Inc., Class C * | 37,665 | 974,017 |
Universal Electronics, Inc. * | 5,200 | 364,780 |
Vera Bradley, Inc. * | 11,000 | 147,070 |
VF Corp. | 71,900 | 3,897,699 |
Vince Holding Corp. * | 5,757 | 31,376 |
Vista Outdoor, Inc. * | 11,074 | 428,232 |
Vuzix Corp. *(c) | 7,800 | 56,940 |
Whirlpool Corp. | 17,614 | 2,638,929 |
Wolverine World Wide, Inc. | 27,500 | 587,125 |
71,172,389 | ||
Consumer Services 2.1% | ||
American Public Education, Inc. * | 5,600 | 112,840 |
Apollo Education Group, Inc. * | 16,450 | 144,596 |
Aramark | 46,800 | 1,742,364 |
Ascent Capital Group, Inc., Class A * | 3,116 | 63,504 |
Belmond Ltd., Class A * | 12,600 | 163,170 |
Biglari Holdings, Inc. * | 279 | 122,252 |
BJ's Restaurants, Inc. * | 7,300 | 263,530 |
Bloomin' Brands, Inc. | 20,900 | 361,570 |
Bob Evans Farms, Inc. | 4,200 | 173,124 |
Boyd Gaming Corp. * | 21,300 | 380,418 |
Bridgepoint Education, Inc. * | 13,700 | 92,612 |
Bright Horizons Family Solutions, Inc. * | 13,712 | 917,470 |
Brinker International, Inc. | 12,650 | 622,886 |
Buffalo Wild Wings, Inc. * | 4,800 | 699,120 |
Caesars Entertainment Corp. *(c) | 41,600 | 295,360 |
Career Education Corp. * | 25,114 | 180,570 |
Carnival Corp. | 95,439 | 4,686,055 |
Chipotle Mexican Grill, Inc. * | 6,179 | 2,229,136 |
Choice Hotels International, Inc. | 12,200 | 591,090 |
Churchill Downs, Inc. | 2,900 | 394,400 |
Chuy's Holdings, Inc. * | 6,760 | 191,984 |
ClubCorp Holdings, Inc. | 38,442 | 444,005 |
Cracker Barrel Old Country Store, Inc. (c) | 5,146 | 710,148 |
Darden Restaurants, Inc. | 25,500 | 1,652,145 |
Dave & Buster's Entertainment, Inc. * | 12,600 | 521,010 |
Denny's Corp. * | 21,100 | 218,807 |
DeVry Education Group, Inc. | 9,400 | 213,380 |
DineEquity, Inc. | 3,000 | 237,300 |
Domino's Pizza, Inc. | 12,200 | 2,064,728 |
Dover Motorsports, Inc. | 1,400 | 3,360 |
Dunkin' Brands Group, Inc. | 21,600 | 1,044,576 |
Eldorado Resorts, Inc. * | 5,800 | 70,180 |
Extended Stay America, Inc. | 13,200 | 188,760 |
Fiesta Restaurant Group, Inc. * | 4,300 | 113,520 |
Golden Entertainment, Inc. | 3,400 | 38,964 |
Graham Holdings Co., Class B | 900 | 427,500 |
Security | Number of Shares | Value ($) |
Grand Canyon Education, Inc. * | 8,500 | 370,940 |
H&R Block, Inc. | 54,700 | 1,256,459 |
Hilton Worldwide Holdings, Inc. | 120,247 | 2,717,582 |
Houghton Mifflin Harcourt Co. * | 19,600 | 247,940 |
Hyatt Hotels Corp., Class A * | 9,600 | 487,584 |
ILG, Inc. | 25,089 | 410,958 |
International Speedway Corp., Class A | 6,445 | 212,040 |
Isle of Capri Casinos, Inc. * | 11,800 | 247,800 |
J Alexander's Holdings, Inc. * | 2,846 | 25,614 |
Jack in the Box, Inc. | 7,000 | 656,110 |
K12, Inc. * | 12,100 | 131,164 |
La Quinta Holdings, Inc. * | 15,800 | 158,158 |
Las Vegas Sands Corp. | 80,700 | 4,670,916 |
LifeLock, Inc. * | 11,000 | 177,100 |
Luby's, Inc. * | 6,900 | 28,911 |
Marriott International, Inc., Class A | 69,392 | 4,767,230 |
Marriott Vacations Worldwide Corp. | 4,080 | 259,406 |
McDonald's Corp. | 184,840 | 20,807,439 |
MGM Resorts International * | 95,500 | 2,499,235 |
Monarch Casino & Resort, Inc. * | 8,000 | 189,200 |
Norwegian Cruise Line Holdings Ltd. * | 32,100 | 1,247,727 |
Panera Bread Co., Class A * | 5,600 | 1,068,256 |
Papa John's International, Inc. | 6,800 | 513,060 |
Penn National Gaming, Inc. * | 17,000 | 219,810 |
Pinnacle Entertainment, Inc. * | 9,800 | 116,130 |
Popeyes Louisiana Kitchen, Inc. * | 6,600 | 352,308 |
Red Robin Gourmet Burgers, Inc. * | 2,300 | 105,800 |
Regis Corp. * | 17,300 | 219,364 |
Royal Caribbean Cruises Ltd. | 34,300 | 2,636,641 |
Ruby Tuesday, Inc. * | 33,713 | 100,128 |
Scientific Games Corp., Class A * | 10,900 | 135,160 |
SeaWorld Entertainment, Inc. | 12,511 | 175,279 |
Service Corp. International | 35,000 | 896,000 |
ServiceMaster Global Holdings, Inc. * | 30,000 | 1,073,700 |
Six Flags Entertainment Corp. | 15,600 | 868,140 |
Sonic Corp. | 12,868 | 294,806 |
Sotheby's | 11,338 | 406,807 |
Speedway Motorsports, Inc. | 6,700 | 126,027 |
Starbucks Corp. | 310,294 | 16,467,303 |
Strayer Education, Inc. * | 4,300 | 252,238 |
Texas Roadhouse, Inc. | 16,100 | 652,372 |
The Cheesecake Factory, Inc. | 7,087 | 376,958 |
The Wendy's Co. | 50,775 | 550,401 |
Vail Resorts, Inc. | 7,500 | 1,195,800 |
Weight Watchers International, Inc. *(c) | 6,500 | 66,820 |
Wyndham Worldwide Corp. | 23,044 | 1,517,217 |
Wynn Resorts Ltd. | 15,600 | 1,474,980 |
Yum! Brands, Inc. | 79,700 | 6,876,516 |
102,683,968 | ||
Diversified Financials 4.8% | ||
Affiliated Managers Group, Inc. * | 11,217 | 1,488,047 |
AG Mortgage Investment Trust, Inc. | 12,000 | 186,360 |
AGNC Investment Corp. | 72,900 | 1,462,374 |
Ally Financial, Inc. | 85,600 | 1,546,792 |
Altisource Residential Corp. | 10,789 | 108,645 |
American Express Co. | 171,903 | 11,417,797 |
Ameriprise Financial, Inc. | 35,830 | 3,167,014 |
Annaly Capital Management, Inc. | 218,253 | 2,261,101 |
Anworth Mortgage Asset Corp. | 24,200 | 118,822 |
Apollo Commercial Real Estate Finance, Inc. | 16,786 | 284,019 |
Arlington Asset Investment Corp., Class A | 6,941 | 99,117 |
ARMOUR Residential REIT, Inc. | 7,625 | 172,859 |
Artisan Partners Asset Management, Inc., Class A | 5,500 | 143,000 |
Ashford, Inc. * | 103 | 4,685 |
Security | Number of Shares | Value ($) |
Associated Capital Group, Inc., Class A | 3,400 | 115,430 |
Asta Funding, Inc. * | 6,000 | 58,800 |
Atlanticus Holdings Corp. * | 4,629 | 15,970 |
Berkshire Hathaway, Inc., Class B * | 409,702 | 59,119,999 |
BGC Partners, Inc., Class A | 61,300 | 526,567 |
BlackRock, Inc. | 26,532 | 9,053,780 |
Blackstone Mortgage Trust, Inc., Class A | 18,102 | 546,680 |
Calamos Asset Management, Inc., Class A | 5,000 | 32,300 |
Capital One Financial Corp. | 109,257 | 8,089,388 |
Capstead Mortgage Corp. | 21,740 | 206,747 |
CBOE Holdings, Inc. | 20,800 | 1,314,768 |
Chimera Investment Corp. | 33,940 | 531,840 |
CIM Commercial Trust Corp. | 9,700 | 148,895 |
CME Group, Inc. | 70,150 | 7,022,015 |
Cohen & Steers, Inc. | 5,400 | 200,772 |
Colony Capital, Inc., Class A | 19,300 | 366,893 |
Cowen Group, Inc., Class A * | 11,889 | 38,639 |
Credit Acceptance Corp. *(c) | 2,100 | 386,610 |
CYS Investments, Inc. | 25,500 | 219,810 |
Discover Financial Services | 88,507 | 4,985,599 |
Donnelley Financial Solutions, Inc. * | 4,579 | 98,220 |
Dynex Capital, Inc. | 21,998 | 151,126 |
E*TRADE Financial Corp. * | 53,233 | 1,499,041 |
Eaton Vance Corp. | 22,700 | 795,862 |
Encore Capital Group, Inc. *(c) | 5,600 | 111,160 |
Enova International, Inc. * | 6,313 | 59,342 |
Evercore Partners, Inc., Class A | 6,500 | 349,375 |
EZCORP, Inc., Class A * | 20,600 | 200,850 |
FactSet Research Systems, Inc. | 8,050 | 1,245,496 |
FBR & Co. | 1,000 | 13,900 |
Federated Investors, Inc., Class B | 14,650 | 395,550 |
Financial Engines, Inc. | 21,200 | 586,180 |
FirstCash, Inc. | 13,896 | 655,891 |
FNFV Group * | 16,478 | 198,560 |
Franklin Resources, Inc. | 74,800 | 2,517,768 |
GAMCO Investors, Inc., Class A | 3,400 | 96,594 |
Green Dot Corp., Class A * | 10,049 | 223,088 |
Greenhill & Co., Inc. | 4,500 | 105,525 |
Hannon Armstrong Sustainable Infrastructure Capital, Inc. | 13,000 | 297,180 |
Interactive Brokers Group, Inc., Class A | 13,600 | 451,384 |
Intercontinental Exchange, Inc. | 24,986 | 6,755,965 |
INTL. FCStone, Inc. * | 4,437 | 159,288 |
Invesco Ltd. | 88,200 | 2,477,538 |
Invesco Mortgage Capital, Inc. | 22,300 | 332,939 |
Investment Technology Group, Inc. | 8,050 | 123,246 |
Janus Capital Group, Inc. | 26,200 | 335,884 |
KCG Holdings, Inc., Class A * | 15,533 | 198,201 |
Lazard Ltd., Class A | 28,600 | 1,042,756 |
Legg Mason, Inc. | 17,550 | 504,036 |
LendingClub Corp. * | 51,500 | 253,895 |
Leucadia National Corp. | 72,450 | 1,352,641 |
LPL Financial Holdings, Inc. | 22,300 | 690,408 |
MarketAxess Holdings, Inc. | 8,900 | 1,341,764 |
MFA Financial, Inc. | 93,700 | 684,947 |
Moody's Corp. | 37,800 | 3,799,656 |
Morgan Stanley | 330,425 | 11,092,367 |
Morningstar, Inc. | 5,500 | 388,465 |
MSCI, Inc. | 20,000 | 1,603,800 |
MTGE Investment Corp. | 14,600 | 248,930 |
Nasdaq, Inc. | 26,100 | 1,669,617 |
Navient Corp. | 72,000 | 920,160 |
Nelnet, Inc., Class A | 6,400 | 250,752 |
New Residential Investment Corp. | 45,250 | 631,690 |
New York Mortgage Trust, Inc. | 18,600 | 109,926 |
Newcastle Investment Corp. | 20,583 | 90,565 |
NewStar Financial, Inc. * | 13,500 | 131,355 |
Northern Trust Corp. | 45,100 | 3,266,142 |
Security | Number of Shares | Value ($) |
NorthStar Asset Management Group, Inc. | 33,475 | 458,607 |
OneMain Holdings, Inc. * | 10,500 | 297,570 |
PennyMac Mortgage Investment Trust | 14,400 | 219,168 |
PICO Holdings, Inc. * | 3,700 | 44,770 |
Piper Jaffray Cos. * | 3,950 | 223,373 |
PRA Group, Inc. * | 9,800 | 312,620 |
Raymond James Financial, Inc. | 30,750 | 1,848,690 |
Redwood Trust, Inc. | 19,700 | 276,982 |
Resource Capital Corp. | 7,150 | 88,589 |
S&P Global, Inc. | 56,461 | 6,879,773 |
Santander Consumer USA Holdings, Inc. * | 24,000 | 292,800 |
SEI Investments Co. | 31,100 | 1,378,663 |
SLM Corp. * | 72,000 | 507,600 |
Starwood Property Trust, Inc. | 50,873 | 1,131,416 |
State Street Corp. | 83,260 | 5,845,685 |
Stifel Financial Corp. * | 11,785 | 461,265 |
Synchrony Financial | 169,113 | 4,834,941 |
T. Rowe Price Group, Inc. | 53,900 | 3,450,139 |
TD Ameritrade Holding Corp. | 56,600 | 1,936,286 |
The Bank of New York Mellon Corp. | 233,918 | 10,121,632 |
The Charles Schwab Corp. (a) | 250,126 | 7,928,994 |
The Goldman Sachs Group, Inc. | 80,955 | 14,429,419 |
Two Harbors Investment Corp. | 60,300 | 502,299 |
Virtus Investment Partners, Inc. | 875 | 93,888 |
Voya Financial, Inc. | 45,389 | 1,386,634 |
Waddell & Reed Financial, Inc., Class A | 14,750 | 231,870 |
Western Asset Mortgage Capital Corp. | 4,607 | 46,669 |
Westwood Holdings Group, Inc. | 1,785 | 92,017 |
WisdomTree Investments, Inc. (c) | 20,500 | 175,890 |
World Acceptance Corp. * | 3,000 | 142,560 |
231,591,968 | ||
Energy 6.6% | ||
Abraxas Petroleum Corp. * | 36,200 | 58,644 |
Adams Resources & Energy, Inc. | 2,300 | 84,042 |
Alon USA Energy, Inc. | 8,700 | 70,122 |
Anadarko Petroleum Corp. | 119,268 | 7,089,290 |
Antero Resources Corp. * | 32,800 | 868,216 |
Apache Corp. | 77,572 | 4,613,983 |
Archrock, Inc. | 10,720 | 124,352 |
Atwood Oceanics, Inc. | 9,500 | 72,485 |
Baker Hughes, Inc. | 97,965 | 5,427,261 |
Bill Barrett Corp. * | 38,500 | 199,815 |
Bonanza Creek Energy, Inc. * | 237,300 | 222,398 |
Bristow Group, Inc. | 6,000 | 60,060 |
Cabot Oil & Gas Corp. | 100,400 | 2,096,352 |
California Resources Corp. (c) | 7,032 | 72,148 |
Callon Petroleum Co. * | 18,200 | 236,418 |
CARBO Ceramics, Inc. | 3,300 | 20,130 |
Carrizo Oil & Gas, Inc. * | 13,100 | 443,173 |
Cheniere Energy, Inc. * | 56,300 | 2,122,510 |
Chesapeake Energy Corp. * | 136,530 | 752,280 |
Chevron Corp. | 408,223 | 42,761,359 |
Cimarex Energy Co. | 20,162 | 2,603,519 |
Clayton Williams Energy, Inc. * | 2,500 | 218,275 |
Clean Energy Fuels Corp. * | 17,300 | 71,103 |
Cloud Peak Energy, Inc. * | 8,700 | 53,592 |
Comstock Resources, Inc. *(c) | 10,160 | 99,162 |
Concho Resources, Inc. * | 33,231 | 4,218,343 |
ConocoPhillips | 262,931 | 11,424,352 |
CONSOL Energy, Inc. | 44,600 | 755,970 |
Contango Oil & Gas Co. * | 5,200 | 40,716 |
Continental Resources, Inc. * | 17,000 | 831,470 |
Core Laboratories N.V. | 9,800 | 950,306 |
CVR Energy, Inc. (c) | 5,100 | 67,626 |
Delek US Holdings, Inc. | 10,700 | 180,830 |
Denbury Resources, Inc. * | 27,225 | 65,068 |
Security | Number of Shares | Value ($) |
Devon Energy Corp. | 113,260 | 4,291,421 |
Diamond Offshore Drilling, Inc. | 11,400 | 187,986 |
Diamondback Energy, Inc. * | 19,721 | 1,800,330 |
Dril-Quip, Inc. * | 6,700 | 318,250 |
Energen Corp. | 17,500 | 877,275 |
Ensco plc, Class A | 81,500 | 637,330 |
EOG Resources, Inc. | 115,548 | 10,447,850 |
EP Energy Corp., Class A * | 19,147 | 68,163 |
EQT Corp. | 37,900 | 2,501,400 |
Era Group, Inc. * | 2,850 | 21,517 |
Exterran Corp. * | 5,360 | 84,742 |
Exxon Mobil Corp. | 894,899 | 74,562,985 |
Fairmount Santrol Holdings, Inc. * | 35,100 | 301,509 |
FMC Technologies, Inc. * | 46,764 | 1,509,074 |
Forum Energy Technologies, Inc. * | 11,200 | 201,600 |
Frank's International N.V. (c) | 14,000 | 157,500 |
Geospace Technologies Corp. * | 1,800 | 33,174 |
Green Plains, Inc. | 9,300 | 241,800 |
Gulf Island Fabrication, Inc. | 4,100 | 41,000 |
Gulfport Energy Corp. * | 24,003 | 578,712 |
Halliburton Co. | 188,444 | 8,668,424 |
Helix Energy Solutions Group, Inc. * | 14,064 | 122,638 |
Helmerich & Payne, Inc. | 29,417 | 1,856,507 |
Hess Corp. | 55,300 | 2,652,741 |
HollyFrontier Corp. | 38,654 | 964,417 |
Hornbeck Offshore Services, Inc. * | 5,000 | 19,850 |
Kinder Morgan, Inc. | 421,178 | 8,604,667 |
Kosmos Energy Ltd. * | 31,100 | 162,031 |
Laredo Petroleum, Inc. * | 22,700 | 270,584 |
Marathon Oil Corp. | 180,614 | 2,380,493 |
Marathon Petroleum Corp. | 109,008 | 4,751,659 |
Matador Resources Co. * | 12,100 | 263,901 |
Matrix Service Co. * | 8,000 | 141,600 |
McDermott International, Inc. * | 39,100 | 200,974 |
Murphy Oil Corp. | 29,000 | 750,230 |
Nabors Industries Ltd. | 70,734 | 841,735 |
National Oilwell Varco, Inc. | 80,822 | 2,594,386 |
Natural Gas Services Group, Inc. * | 7,500 | 162,750 |
Newfield Exploration Co. * | 45,100 | 1,830,609 |
Newpark Resources, Inc. * | 11,500 | 72,450 |
Noble Corp. plc | 54,955 | 271,478 |
Noble Energy, Inc. | 87,679 | 3,022,295 |
Northern Oil & Gas, Inc. * | 8,200 | 17,220 |
Oasis Petroleum, Inc. * | 24,200 | 253,858 |
Occidental Petroleum Corp. | 163,253 | 11,902,776 |
Oceaneering International, Inc. | 23,100 | 549,780 |
Oil States International, Inc. * | 8,600 | 251,550 |
ONEOK, Inc. | 45,929 | 2,224,341 |
Pacific Ethanol, Inc. * | 10,200 | 75,990 |
Panhandle Oil & Gas, Inc., Class A | 6,200 | 111,600 |
Parker Drilling Co. * | 60,300 | 120,600 |
Parsley Energy, Inc., Class A * | 37,700 | 1,240,330 |
Patterson-UTI Energy, Inc. | 28,500 | 640,680 |
PBF Energy, Inc., Class A | 21,913 | 477,703 |
PDC Energy, Inc. * | 9,300 | 570,369 |
PHI, Inc. - Non Voting Shares * | 4,000 | 62,320 |
Phillips 66 | 100,365 | 8,144,620 |
Pioneer Energy Services Corp. * | 13,100 | 46,505 |
Pioneer Natural Resources Co. | 37,433 | 6,701,256 |
QEP Resources, Inc. | 49,600 | 797,072 |
Range Resources Corp. | 46,305 | 1,564,646 |
Resolute Energy Corp. * | 2,380 | 61,642 |
REX American Resources Corp. * | 4,875 | 385,076 |
Rice Energy, Inc. * | 28,236 | 623,733 |
RigNet, Inc. * | 4,141 | 62,115 |
Ring Energy, Inc. * | 22,800 | 210,444 |
Rowan Cos. plc, Class A | 20,500 | 272,035 |
RPC, Inc. *(c) | 16,118 | 278,358 |
Security | Number of Shares | Value ($) |
RSP Permian, Inc. * | 12,800 | 462,080 |
Sanchez Energy Corp. * | 8,700 | 55,419 |
Schlumberger Ltd. | 299,003 | 23,391,005 |
SEACOR Holdings, Inc. * | 4,850 | 239,153 |
SemGroup Corp., Class A | 7,000 | 225,750 |
SM Energy Co. | 22,500 | 756,675 |
Southwestern Energy Co. * | 114,975 | 1,194,590 |
Spectra Energy Corp. | 153,478 | 6,416,915 |
Stone Energy Corp. *(c) | 4,238 | 17,630 |
Superior Energy Services, Inc. | 26,099 | 369,562 |
Synergy Resources Corp. * | 33,100 | 226,404 |
Targa Resources Corp. | 33,800 | 1,483,820 |
Teekay Corp. | 8,600 | 56,158 |
Tesco Corp. | 7,000 | 47,950 |
Tesoro Corp. | 24,700 | 2,098,759 |
TETRA Technologies, Inc. * | 12,100 | 65,945 |
The Williams Cos., Inc. | 151,100 | 4,412,120 |
Transocean Ltd. * | 67,500 | 648,675 |
Unit Corp. * | 7,400 | 126,762 |
Uranium Energy Corp. *(c) | 226,400 | 203,285 |
US Silica Holdings, Inc. | 10,600 | 489,614 |
Valero Energy Corp. | 101,280 | 5,999,827 |
Weatherford International plc * | 195,549 | 942,546 |
Western Refining, Inc. | 12,253 | 353,499 |
Westmoreland Coal Co. * | 9,600 | 85,248 |
Whiting Petroleum Corp. * | 62,070 | 511,457 |
World Fuel Services Corp. | 17,400 | 700,350 |
WPX Energy, Inc. * | 63,953 | 694,530 |
318,367,754 | ||
Food & Staples Retailing 1.9% | ||
Casey's General Stores, Inc. | 7,100 | 802,229 |
Costco Wholesale Corp. | 94,685 | 14,001,071 |
CVS Health Corp. | 231,037 | 19,430,212 |
Ingles Markets, Inc., Class A | 4,200 | 165,900 |
Performance Food Group Co. * | 10,000 | 240,000 |
PriceSmart, Inc. | 7,100 | 645,745 |
Rite Aid Corp. * | 201,480 | 1,351,931 |
SpartanNash, Co. | 12,540 | 351,120 |
Sprouts Farmers Market, Inc. * | 35,374 | 783,534 |
SUPERVALU, Inc. * | 39,532 | 169,592 |
Sysco Corp. | 107,836 | 5,189,068 |
The Andersons, Inc. | 3,600 | 136,980 |
The Kroger Co. | 202,832 | 6,283,735 |
U.S. Foods Holding Corp. * | 30,600 | 691,560 |
United Natural Foods, Inc. * | 8,800 | 367,312 |
Wal-Mart Stores, Inc. | 325,189 | 22,769,734 |
Walgreens Boots Alliance, Inc. | 181,808 | 15,040,976 |
Weis Markets, Inc. | 2,400 | 133,512 |
Whole Foods Market, Inc. | 70,777 | 2,002,281 |
90,556,492 | ||
Food, Beverage & Tobacco 5.1% | ||
Alico, Inc. | 2,000 | 52,300 |
Alliance One International, Inc. * | 2,460 | 36,531 |
Altria Group, Inc. | 419,223 | 27,719,025 |
Archer-Daniels-Midland Co. | 126,958 | 5,531,560 |
B&G Foods, Inc. | 15,000 | 636,000 |
Blue Buffalo Pet Products, Inc. * | 24,900 | 625,488 |
Brown-Forman Corp., Class A | 10,000 | 485,000 |
Brown-Forman Corp., Class B | 44,232 | 2,042,191 |
Bunge Ltd. | 32,100 | 1,990,521 |
Cal-Maine Foods, Inc. (c) | 5,200 | 200,980 |
Calavo Growers, Inc. | 4,846 | 286,641 |
Campbell Soup Co. | 40,100 | 2,179,034 |
Coca-Cola Bottling Co. Consolidated | 1,248 | 176,342 |
Security | Number of Shares | Value ($) |
ConAgra Foods, Inc. | 88,393 | 4,258,775 |
Constellation Brands, Inc., Class A | 37,169 | 6,211,683 |
Darling Ingredients, Inc. * | 56,100 | 762,960 |
Dean Foods Co. | 13,556 | 247,533 |
Dr Pepper Snapple Group, Inc. | 39,400 | 3,458,926 |
Farmer Brothers Co. * | 4,500 | 147,150 |
Flowers Foods, Inc. | 44,605 | 692,270 |
Fresh Del Monte Produce, Inc. | 7,900 | 476,765 |
General Mills, Inc. | 128,638 | 7,972,983 |
Hormel Foods Corp. | 54,800 | 2,109,800 |
Ingredion, Inc. | 15,700 | 2,059,369 |
J&J Snack Foods Corp. | 2,093 | 255,660 |
John B. Sanfilippo & Son, Inc. | 5,000 | 253,400 |
Kellogg Co. | 53,400 | 4,011,942 |
Lancaster Colony Corp. | 3,400 | 444,210 |
Landec Corp. * | 9,100 | 120,575 |
Limoneira Co. (c) | 2,900 | 57,101 |
McCormick & Co., Inc. - Non Voting Shares | 25,100 | 2,406,337 |
Mead Johnson Nutrition Co. | 39,500 | 2,953,415 |
Molson Coors Brewing Co., Class B | 39,400 | 4,090,114 |
Mondelez International, Inc., Class A | 340,624 | 15,307,643 |
Monster Beverage Corp. * | 31,789 | 4,588,424 |
National Beverage Corp. * | 6,400 | 302,336 |
PepsiCo, Inc. | 310,658 | 33,302,538 |
Philip Morris International, Inc. | 332,409 | 32,057,524 |
Pilgrim's Pride Corp. | 12,466 | 272,257 |
Pinnacle Foods, Inc. | 23,600 | 1,213,512 |
Post Holdings, Inc. * | 11,950 | 910,949 |
Primo Water Corp. * | 1,000 | 13,090 |
Reynolds American, Inc. | 178,206 | 9,815,587 |
Rocky Mountain Chocolate Factory, Inc. | 3,427 | 34,955 |
Sanderson Farms, Inc. | 2,850 | 256,443 |
Seaboard Corp. * | 100 | 338,500 |
Snyder's-Lance, Inc. | 30,430 | 1,082,395 |
The Boston Beer Co., Inc., Class A * | 2,100 | 326,025 |
The Coca-Cola Co. | 834,514 | 35,383,394 |
The Hain Celestial Group, Inc. * | 19,412 | 706,014 |
The Hershey Co. | 31,300 | 3,206,998 |
The JM Smucker Co. | 24,293 | 3,189,914 |
The Kraft Heinz Co. | 125,304 | 11,145,791 |
The WhiteWave Foods Co. * | 40,325 | 2,197,309 |
Tootsie Roll Industries, Inc. | 8,052 | 285,443 |
TreeHouse Foods, Inc. * | 12,522 | 1,095,425 |
Tyson Foods, Inc., Class A | 62,684 | 4,441,161 |
Universal Corp. | 4,800 | 260,160 |
Vector Group Ltd. | 16,662 | 348,902 |
247,035,270 | ||
Health Care Equipment & Services 5.2% | ||
Abaxis, Inc. | 5,600 | 267,344 |
Abbott Laboratories | 311,620 | 12,227,969 |
ABIOMED, Inc. * | 10,200 | 1,070,898 |
Acadia Healthcare Co., Inc. * | 19,600 | 704,816 |
Accuray, Inc. * | 21,200 | 103,880 |
Aceto Corp. | 7,900 | 144,807 |
Adeptus Health, Inc., Class A *(c) | 3,700 | 111,444 |
Aetna, Inc. | 74,185 | 7,963,760 |
Air Methods Corp. * | 8,700 | 230,115 |
Alere, Inc. * | 18,541 | 828,412 |
Align Technology, Inc. * | 16,400 | 1,409,088 |
Allscripts Healthcare Solutions, Inc. * | 31,560 | 379,036 |
Amedisys, Inc. * | 10,834 | 468,679 |
AmerisourceBergen Corp. | 39,596 | 2,784,391 |
AMN Healthcare Services, Inc. * | 11,210 | 367,688 |
Amsurg Corp. * | 10,700 | 639,325 |
Analogic Corp. | 2,700 | 220,995 |
Security | Number of Shares | Value ($) |
Anika Therapeutics, Inc. * | 4,606 | 204,322 |
Antares Pharma, Inc. * | 28,100 | 49,456 |
Anthem, Inc. | 56,723 | 6,912,265 |
athenahealth, Inc. * | 7,800 | 805,896 |
AtriCure, Inc. * | 13,800 | 251,712 |
Atrion Corp. | 616 | 270,516 |
Baxter International, Inc. | 113,006 | 5,377,956 |
Becton, Dickinson & Co. | 44,008 | 7,389,383 |
BioScrip, Inc. * | 88,272 | 237,452 |
Boston Scientific Corp. * | 294,167 | 6,471,674 |
Brookdale Senior Living, Inc. * | 33,925 | 489,538 |
C.R. Bard, Inc. | 15,560 | 3,371,541 |
Cantel Medical Corp. | 8,034 | 572,262 |
Capital Senior Living Corp. * | 8,394 | 134,052 |
Cardinal Health, Inc. | 70,118 | 4,816,405 |
Cardiovascular Systems, Inc. * | 5,000 | 117,150 |
Centene Corp. * | 36,341 | 2,270,586 |
Cerner Corp. * | 62,800 | 3,678,824 |
Chemed Corp. | 3,900 | 551,538 |
Cigna Corp. | 55,551 | 6,601,125 |
Community Health Systems, Inc. * | 23,796 | 125,643 |
Computer Programs & Systems, Inc. (c) | 3,600 | 93,960 |
CONMED Corp. | 7,300 | 292,000 |
CorVel Corp. * | 2,700 | 93,285 |
Cross Country Healthcare, Inc. * | 12,500 | 139,625 |
CryoLife, Inc. | 9,050 | 153,850 |
Cynosure, Inc., Class A * | 5,000 | 213,250 |
Danaher Corp. | 128,819 | 10,118,732 |
DaVita, Inc. * | 34,300 | 2,010,666 |
DENTSPLY SIRONA, Inc. | 53,888 | 3,102,332 |
DexCom, Inc. * | 16,500 | 1,290,960 |
Diplomat Pharmacy, Inc. * | 9,000 | 208,530 |
Edwards Lifesciences Corp. * | 46,000 | 4,380,120 |
Endologix, Inc. * | 13,700 | 143,302 |
Envision Healthcare Holdings, Inc. * | 38,000 | 751,640 |
Express Scripts Holding Co. * | 136,852 | 9,223,825 |
Five Star Quality Care, Inc. * | 14,335 | 40,138 |
Glaukos Corp. * | 9,400 | 313,960 |
Globus Medical, Inc., Class A * | 13,900 | 307,607 |
Haemonetics Corp. * | 16,300 | 544,583 |
Halyard Health, Inc. * | 8,217 | 265,820 |
HCA Holdings, Inc. * | 64,300 | 4,920,879 |
HealthEquity, Inc. * | 8,000 | 265,840 |
HealthSouth Corp. | 20,600 | 827,090 |
HealthStream, Inc. * | 6,800 | 183,396 |
Healthways, Inc. * | 8,100 | 200,880 |
Henry Schein, Inc. * | 16,100 | 2,402,120 |
Hill-Rom Holdings, Inc. | 10,200 | 565,182 |
HMS Holdings Corp. * | 12,200 | 257,054 |
Hologic, Inc. * | 72,312 | 2,603,955 |
Humana, Inc. | 31,000 | 5,317,430 |
ICU Medical, Inc. * | 3,350 | 466,655 |
IDEXX Laboratories, Inc. * | 23,000 | 2,464,220 |
Inogen, Inc. * | 9,600 | 515,232 |
Inovalon Holdings, Inc., Class A * | 10,000 | 136,000 |
Insulet Corp. * | 9,800 | 363,776 |
Integer Holdings Corp. * | 6,700 | 147,735 |
Integra LifeSciences Holdings Corp. * | 5,300 | 421,403 |
Intuitive Surgical, Inc. * | 7,950 | 5,343,036 |
Invacare Corp. | 6,000 | 54,900 |
K2M Group Holdings, Inc. * | 12,900 | 220,203 |
Kindred Healthcare, Inc. | 11,559 | 113,856 |
Laboratory Corp. of America Holdings * | 20,869 | 2,615,720 |
Landauer, Inc. | 2,100 | 91,350 |
LeMaitre Vascular, Inc. | 6,800 | 142,392 |
LifePoint Health, Inc. * | 9,607 | 574,979 |
LivaNova plc * | 10,400 | 589,472 |
Magellan Health, Inc. * | 3,907 | 201,015 |
Security | Number of Shares | Value ($) |
Masimo Corp. * | 8,500 | 467,500 |
McKesson Corp. | 48,152 | 6,123,490 |
Medidata Solutions, Inc. * | 16,500 | 791,835 |
MEDNAX, Inc. * | 19,600 | 1,200,500 |
Medtronic plc | 296,388 | 24,309,744 |
Meridian Bioscience, Inc. | 10,050 | 165,323 |
Merit Medical Systems, Inc. * | 10,277 | 225,580 |
Molina Healthcare, Inc. * | 6,550 | 356,385 |
National HealthCare Corp. | 4,100 | 265,270 |
Natus Medical, Inc. * | 7,600 | 299,060 |
Neogen Corp. * | 10,257 | 540,441 |
Nevro Corp. * | 3,000 | 275,760 |
NuVasive, Inc. * | 10,000 | 597,300 |
Nuvectra Corp. * | 2,233 | 11,991 |
NxStage Medical, Inc. * | 18,700 | 425,238 |
Omnicell, Inc. * | 7,400 | 241,425 |
OraSure Technologies, Inc. * | 12,200 | 91,622 |
Orthofix International N.V. * | 2,800 | 102,620 |
Owens & Minor, Inc. | 24,200 | 785,290 |
Patterson Cos., Inc. | 18,800 | 802,948 |
Penumbra, Inc. * | 8,300 | 547,385 |
PharMerica Corp. * | 4,813 | 114,549 |
Premier, Inc., Class A * | 15,900 | 506,256 |
Quality Systems, Inc. | 10,500 | 135,345 |
Quest Diagnostics, Inc. | 28,720 | 2,338,957 |
Quidel Corp. * | 5,200 | 100,360 |
Quorum Health Corp. * | 5,949 | 24,034 |
ResMed, Inc. | 28,000 | 1,673,560 |
RTI Surgical, Inc. * | 18,100 | 46,155 |
SeaSpine Holdings Corp. * | 1,766 | 16,441 |
Select Medical Holdings Corp. * | 22,600 | 293,800 |
St. Jude Medical, Inc. | 61,200 | 4,763,808 |
STERIS plc | 19,400 | 1,296,308 |
Stryker Corp. | 65,300 | 7,532,355 |
Surgical Care Affiliates, Inc. * | 6,000 | 256,740 |
Surmodics, Inc. * | 4,200 | 104,580 |
Team Health Holdings, Inc. * | 14,000 | 599,900 |
Teladoc, Inc. *(c) | 14,900 | 242,125 |
Teleflex, Inc. | 9,600 | 1,374,048 |
Tenet Healthcare Corp. * | 15,812 | 311,655 |
The Cooper Cos., Inc. | 11,681 | 2,056,323 |
The Ensign Group, Inc. | 10,600 | 195,782 |
The Providence Service Corp. * | 4,800 | 194,232 |
The Spectranetics Corp. * | 6,700 | 145,390 |
Triple-S Management Corp., Class B * | 5,300 | 109,604 |
U.S. Physical Therapy, Inc. | 3,500 | 199,150 |
UnitedHealth Group, Inc. | 206,081 | 29,125,428 |
Universal American Corp. * | 20,600 | 154,706 |
Universal Health Services, Inc., Class B | 18,100 | 2,184,851 |
Utah Medical Products, Inc. | 2,500 | 155,375 |
Varian Medical Systems, Inc. * | 21,100 | 1,914,403 |
Vascular Solutions, Inc. * | 11,500 | 524,400 |
VCA, Inc. * | 16,800 | 1,032,528 |
Veeva Systems, Inc., Class A * | 23,700 | 920,745 |
Vocera Communications, Inc. * | 3,700 | 68,080 |
WellCare Health Plans, Inc. * | 8,200 | 930,782 |
West Pharmaceutical Services, Inc. | 15,800 | 1,201,274 |
Wright Medical Group N.V. * | 14,965 | 327,883 |
Zeltiq Aesthetics, Inc. * | 9,601 | 317,793 |
Zimmer Biomet Holdings, Inc. | 41,600 | 4,384,640 |
252,816,950 | ||
Household & Personal Products 1.9% | ||
Avon Products, Inc. | 35,000 | 229,250 |
Central Garden & Pet Co., Class A * | 8,600 | 200,724 |
Church & Dwight Co., Inc. | 52,800 | 2,548,128 |
Colgate-Palmolive Co. | 190,409 | 13,587,586 |
Security | Number of Shares | Value ($) |
Coty, Inc., Class A * | 115,600 | 2,657,644 |
Edgewell Personal Care Co. * | 15,533 | 1,171,188 |
Energizer Holdings, Inc. | 15,933 | 741,044 |
Herbalife Ltd. * | 11,900 | 722,092 |
HRG Group, Inc. * | 49,600 | 745,984 |
Inter Parfums, Inc. | 5,613 | 182,984 |
Kimberly-Clark Corp. | 77,139 | 8,825,473 |
Medifast, Inc. | 3,500 | 143,710 |
Nu Skin Enterprises, Inc. | 9,600 | 591,840 |
Nutraceutical International Corp. * | 5,000 | 144,000 |
Oil-Dri Corp. of America | 1,600 | 54,016 |
Orchids Paper Products Co. (c) | 2,500 | 64,150 |
Revlon, Inc., Class A * | 5,400 | 183,600 |
Spectrum Brands Holdings, Inc. | 6,500 | 879,060 |
The Clorox Co. | 26,400 | 3,168,528 |
The Estee Lauder Cos., Inc., Class A | 45,700 | 3,981,841 |
The Female Health Co. * | 7,500 | 7,125 |
The Procter & Gamble Co. | 571,624 | 49,616,963 |
USANA Health Sciences, Inc. * | 2,682 | 344,637 |
WD-40 Co. | 4,600 | 490,475 |
91,282,042 | ||
Insurance 3.0% | ||
Aflac, Inc. | 85,300 | 5,874,611 |
Alleghany Corp. * | 3,440 | 1,775,762 |
Allied World Assurance Co. Holdings AG | 20,400 | 876,792 |
Ambac Financial Group, Inc. * | 13,400 | 247,230 |
American Equity Investment Life Holding Co. | 12,600 | 225,918 |
American Financial Group, Inc. | 18,750 | 1,396,875 |
American International Group, Inc. | 217,815 | 13,439,185 |
American National Insurance Co. | 2,300 | 269,468 |
AMERISAFE, Inc. | 4,000 | 222,400 |
AmTrust Financial Services, Inc. | 14,628 | 386,033 |
Aon plc | 56,196 | 6,228,203 |
Arch Capital Group Ltd. * | 27,000 | 2,105,190 |
Argo Group International Holdings Ltd. | 6,063 | 337,103 |
Arthur J. Gallagher & Co. | 33,400 | 1,610,882 |
Aspen Insurance Holdings Ltd. | 10,400 | 501,800 |
Assurant, Inc. | 14,800 | 1,191,696 |
Assured Guaranty Ltd. | 31,900 | 953,491 |
Axis Capital Holdings Ltd. | 17,600 | 1,002,672 |
Baldwin & Lyons, Inc., Class B | 1,950 | 47,970 |
Brown & Brown, Inc. | 19,300 | 711,398 |
Chubb Ltd. | 97,468 | 12,378,436 |
Cincinnati Financial Corp. | 35,450 | 2,509,151 |
Citizens, Inc. *(c) | 16,000 | 124,480 |
CNA Financial Corp. | 6,900 | 252,333 |
CNO Financial Group, Inc. | 39,000 | 588,120 |
Crawford & Co., Class B | 5,800 | 65,250 |
EMC Insurance Group, Inc. | 1,800 | 43,830 |
Employers Holdings, Inc. | 7,500 | 235,125 |
Endurance Specialty Holdings Ltd. | 13,423 | 1,234,245 |
Enstar Group Ltd. * | 3,300 | 556,380 |
Erie Indemnity Co., Class A | 6,300 | 645,057 |
Everest Re Group Ltd. | 8,700 | 1,770,624 |
FBL Financial Group, Inc., Class A | 5,190 | 328,527 |
Federated National Holding Co. | 1,500 | 26,865 |
First American Financial Corp. | 28,600 | 1,117,116 |
FNF Group | 55,539 | 1,994,405 |
Genworth Financial, Inc., Class A * | 117,800 | 487,692 |
Greenlight Capital Re Ltd., Class A * | 7,400 | 147,260 |
Horace Mann Educators Corp. | 8,300 | 298,385 |
Independence Holding Co. | 2,970 | 52,124 |
Infinity Property & Casualty Corp. | 2,500 | 204,875 |
Kemper Corp. | 7,700 | 289,135 |
Lincoln National Corp. | 51,626 | 2,534,320 |
Security | Number of Shares | Value ($) |
Loews Corp. | 60,174 | 2,589,287 |
Maiden Holdings Ltd. | 18,900 | 257,985 |
Markel Corp. * | 3,203 | 2,810,408 |
Marsh & McLennan Cos., Inc. | 111,700 | 7,080,663 |
MBIA, Inc. * | 25,250 | 194,425 |
Mercury General Corp. | 11,600 | 631,852 |
MetLife, Inc. | 236,703 | 11,115,573 |
National General Holdings Corp. | 10,400 | 213,720 |
National Western Life Group, Inc., Class A | 500 | 107,700 |
Old Republic International Corp. | 43,822 | 738,839 |
OneBeacon Insurance Group Ltd., Class A | 14,800 | 203,352 |
Primerica, Inc. | 10,700 | 585,290 |
Principal Financial Group, Inc. | 55,641 | 3,037,999 |
ProAssurance Corp. | 12,940 | 689,702 |
Prudential Financial, Inc. | 92,672 | 7,857,659 |
Reinsurance Group of America, Inc. | 12,900 | 1,391,394 |
RenaissanceRe Holdings Ltd. | 8,532 | 1,060,442 |
RLI Corp. | 9,200 | 512,808 |
Safety Insurance Group, Inc. | 3,400 | 230,180 |
Selective Insurance Group, Inc. | 19,300 | 713,135 |
State Auto Financial Corp. | 5,500 | 125,950 |
Stewart Information Services Corp. | 3,600 | 161,820 |
The Allstate Corp. | 77,867 | 5,287,169 |
The Hanover Insurance Group, Inc. | 9,400 | 716,186 |
The Hartford Financial Services Group, Inc. | 83,262 | 3,672,687 |
The Navigators Group, Inc. | 4,200 | 391,440 |
The Progressive Corp. | 125,764 | 3,962,824 |
The Travelers Cos., Inc. | 62,752 | 6,788,511 |
Third Point Reinsurance Ltd. * | 20,100 | 236,175 |
Torchmark Corp. | 22,200 | 1,407,702 |
United Fire Group, Inc. | 5,000 | 197,600 |
Universal Insurance Holdings, Inc. | 8,700 | 185,310 |
Unum Group | 52,114 | 1,844,836 |
Validus Holdings Ltd. | 16,857 | 861,393 |
W. R. Berkley Corp. | 27,850 | 1,590,235 |
White Mountains Insurance Group Ltd. | 1,300 | 1,078,636 |
Willis Towers Watson plc | 28,624 | 3,603,762 |
XL Group Ltd. | 57,900 | 2,009,130 |
143,432,193 | ||
Materials 3.2% | ||
A. Schulman, Inc. | 5,300 | 152,375 |
AdvanSix, Inc. * | 6,431 | 102,639 |
AEP Industries, Inc. | 1,900 | 208,145 |
Air Products & Chemicals, Inc. | 49,400 | 6,590,948 |
AK Steel Holding Corp. * | 32,127 | 167,060 |
Albemarle Corp. | 23,603 | 1,972,031 |
Allegheny Technologies, Inc. | 20,092 | 274,055 |
American Vanguard Corp. | 3,000 | 45,600 |
Ampco-Pittsburgh Corp. | 4,500 | 48,600 |
AptarGroup, Inc. | 10,900 | 778,696 |
Ashland Global Holdings, Inc. | 11,923 | 1,332,157 |
Avery Dennison Corp. | 20,000 | 1,395,800 |
Axalta Coating Systems Ltd. * | 58,900 | 1,479,568 |
Balchem Corp. | 9,800 | 743,820 |
Ball Corp. | 40,000 | 3,082,800 |
Bemis Co., Inc. | 27,400 | 1,334,928 |
Berry Plastics Group, Inc. * | 24,600 | 1,076,250 |
Boise Cascade Co. * | 5,500 | 105,875 |
Cabot Corp. | 10,900 | 568,326 |
Calgon Carbon Corp. | 12,500 | 197,500 |
Carpenter Technology Corp. | 8,300 | 262,363 |
Celanese Corp., Series A | 30,700 | 2,238,644 |
Century Aluminum Co. * | 11,600 | 84,796 |
CF Industries Holdings, Inc. | 47,500 | 1,140,475 |
Chase Corp. | 5,200 | 355,420 |
Security | Number of Shares | Value ($) |
Chemtura Corp. * | 14,000 | 459,200 |
Clearwater Paper Corp. * | 5,472 | 290,563 |
Cliffs Natural Resources, Inc. * | 65,500 | 361,560 |
Codexis, Inc. * | 1,870 | 9,444 |
Coeur Mining, Inc. * | 46,100 | 515,398 |
Commercial Metals Co. | 22,800 | 358,188 |
Compass Minerals International, Inc. | 7,300 | 524,505 |
Crown Holdings, Inc. * | 28,000 | 1,519,000 |
Deltic Timber Corp. | 1,500 | 84,270 |
Domtar Corp. | 10,500 | 377,475 |
E.I. du Pont de Nemours & Co. | 185,507 | 12,761,027 |
Eagle Materials, Inc. | 11,543 | 934,637 |
Eastman Chemical Co. | 28,980 | 2,083,952 |
Ecolab, Inc. | 58,104 | 6,633,734 |
Ferro Corp. * | 21,000 | 272,160 |
Flotek Industries, Inc. * | 13,300 | 156,674 |
FMC Corp. | 28,000 | 1,312,920 |
Freeport-McMoRan, Inc. * | 258,318 | 2,887,995 |
FutureFuel Corp. | 8,300 | 90,968 |
GCP Applied Technologies, Inc. * | 13,600 | 351,560 |
Graphic Packaging Holding Co. | 52,900 | 661,250 |
Greif, Inc., Class A | 11,300 | 529,518 |
H.B. Fuller Co. | 9,000 | 378,630 |
Hawkins, Inc. | 2,700 | 108,945 |
Haynes International, Inc. | 2,500 | 80,425 |
Headwaters, Inc. * | 12,000 | 196,800 |
Hecla Mining Co. | 114,500 | 685,855 |
Huntsman Corp. | 52,800 | 894,960 |
Ingevity Corp. * | 8,661 | 358,565 |
Innophos Holdings, Inc. | 5,300 | 242,952 |
Innospec, Inc. | 4,200 | 253,050 |
International Flavors & Fragrances, Inc. | 18,100 | 2,367,118 |
International Paper Co. | 85,480 | 3,849,164 |
Kaiser Aluminum Corp. | 3,600 | 260,964 |
KapStone Paper & Packaging Corp. | 15,800 | 286,612 |
KMG Chemicals, Inc. | 1,600 | 43,424 |
Koppers Holdings, Inc. * | 4,800 | 157,200 |
Kraton Corp. * | 3,500 | 89,705 |
Kronos Worldwide, Inc. | 11,720 | 90,127 |
Louisiana-Pacific Corp. * | 32,900 | 603,715 |
LSB Industries, Inc. *(c) | 3,000 | 15,870 |
LyondellBasell Industries N.V., Class A | 73,032 | 5,809,696 |
Martin Marietta Materials, Inc. | 15,700 | 2,910,466 |
Materion Corp. | 4,000 | 121,200 |
McEwen Mining, Inc. | 31,130 | 101,172 |
Minerals Technologies, Inc. | 6,200 | 416,640 |
Monsanto Co. | 92,626 | 9,333,922 |
Myers Industries, Inc. | 8,080 | 97,364 |
Neenah Paper, Inc. | 4,231 | 338,057 |
NewMarket Corp. | 1,900 | 761,729 |
Newmont Mining Corp. | 111,174 | 4,117,885 |
Nucor Corp. | 71,200 | 3,478,120 |
Olin Corp. | 41,920 | 919,306 |
Olympic Steel, Inc. | 1,400 | 32,326 |
OMNOVA Solutions, Inc. * | 10,400 | 79,040 |
Owens-Illinois, Inc. * | 33,600 | 648,480 |
P.H. Glatfelter Co. | 7,000 | 155,540 |
Packaging Corp. of America | 20,100 | 1,658,250 |
Platform Specialty Products Corp. * | 24,500 | 178,605 |
PolyOne Corp. | 14,810 | 432,896 |
PPG Industries, Inc. | 56,000 | 5,215,280 |
Praxair, Inc. | 61,500 | 7,199,190 |
Quaker Chemical Corp. | 3,200 | 344,000 |
Rayonier Advanced Materials, Inc. | 6,960 | 89,993 |
Reliance Steel & Aluminum Co. | 13,300 | 914,774 |
Resolute Forest Products, Inc. * | 14,000 | 66,500 |
Royal Gold, Inc. | 16,100 | 1,108,002 |
RPM International, Inc. | 24,600 | 1,169,484 |
Security | Number of Shares | Value ($) |
Schnitzer Steel Industries, Inc., Class A | 3,450 | 83,317 |
Schweitzer-Mauduit International, Inc. | 4,600 | 169,786 |
Sealed Air Corp. | 43,300 | 1,975,779 |
Sensient Technologies Corp. | 13,700 | 1,020,787 |
Silgan Holdings, Inc. | 6,900 | 351,555 |
Sonoco Products Co. | 22,600 | 1,136,554 |
Steel Dynamics, Inc. | 47,300 | 1,298,858 |
Stepan Co. | 4,300 | 305,429 |
Stillwater Mining Co. * | 24,633 | 328,112 |
Summit Materials, Inc., Class A * | 24,300 | 455,382 |
SunCoke Energy, Inc. | 15,217 | 155,366 |
TerraVia Holdings, Inc. *(c) | 12,100 | 28,435 |
The Chemours Co. | 34,661 | 569,480 |
The Dow Chemical Co. | 238,251 | 12,820,286 |
The Mosaic Co. | 82,612 | 1,943,860 |
The Scotts Miracle-Gro Co., Class A | 12,500 | 1,101,125 |
The Sherwin-Williams Co. | 16,501 | 4,040,435 |
The Valspar Corp. | 15,500 | 1,543,800 |
TimkenSteel Corp. * | 6,550 | 67,137 |
Tredegar Corp. | 5,100 | 94,350 |
Trinseo S.A. | 12,500 | 655,625 |
Tronox Ltd., Class A | 9,800 | 79,380 |
United States Steel Corp. | 46,000 | 889,640 |
Universal Stainless & Alloy Products, Inc. * | 1,800 | 18,900 |
Valhi, Inc. | 13,600 | 26,656 |
Vulcan Materials Co. | 28,692 | 3,247,934 |
W.R. Grace & Co. | 13,600 | 910,656 |
Westlake Chemical Corp. | 7,500 | 388,425 |
WestRock Co. | 51,969 | 2,400,448 |
Worthington Industries, Inc. | 16,800 | 789,600 |
156,473,964 | ||
Media 2.9% | ||
A. H. Belo Corp., Class A | 13,980 | 88,773 |
AMC Networks, Inc., Class A * | 10,400 | 508,872 |
Cable One, Inc. | 900 | 519,066 |
Carmike Cinemas, Inc. * | 6,300 | 205,695 |
CBS Corp., Class B - Non Voting Shares | 91,190 | 5,163,178 |
Central European Media Enterprises Ltd., Class A *(c) | 9,900 | 24,255 |
Charter Communications, Inc., Class A * | 46,772 | 11,687,855 |
Cinemark Holdings, Inc. | 19,600 | 780,080 |
Clear Channel Outdoor Holdings, Inc., Class A | 20,700 | 119,025 |
Comcast Corp., Class A | 515,360 | 31,859,555 |
Discovery Communications, Inc., Class A * | 26,061 | 680,453 |
Discovery Communications, Inc., Class C * | 57,261 | 1,437,824 |
DISH Network Corp., Class A * | 51,600 | 3,021,696 |
Entercom Communications Corp., Class A | 11,000 | 145,200 |
Gannett Co., Inc. | 19,500 | 151,515 |
Global Eagle Entertainment, Inc. * | 17,114 | 137,768 |
Gray Television, Inc. * | 25,500 | 226,950 |
John Wiley & Sons, Inc., Class A | 9,000 | 464,400 |
Liberty Broadband Corp., Class A * | 4,373 | 284,026 |
Liberty Broadband Corp., Class C * | 17,496 | 1,166,108 |
Liberty Global plc LiLAC., Class A * | 9,918 | 274,134 |
Liberty Global plc LiLAC., Class C * | 23,896 | 660,485 |
Liberty Global plc, Class A * | 59,475 | 1,938,885 |
Liberty Global plc, Series C * | 145,775 | 4,635,645 |
Liberty Media Corp. - Liberty Braves, Class A * | 1,749 | 29,646 |
Liberty Media Corp. - Liberty Braves, Class C * | 7,098 | 118,324 |
Liberty Media Corp. - Liberty Media, Class A * | 4,373 | 121,701 |
Security | Number of Shares | Value ($) |
Liberty Media Corp. - Liberty Media, Class C * | 10,672 | 292,520 |
Liberty Media Corp. - Liberty SiriusXM, Class A * | 17,495 | 582,059 |
Liberty Media Corp. - Liberty SiriusXM, Class C * | 42,690 | 1,416,881 |
Lions Gate Entertainment Corp. | 20,600 | 419,416 |
Live Nation Entertainment, Inc. * | 26,457 | 732,065 |
Loral Space & Communications, Inc. * | 2,800 | 108,640 |
Media General, Inc. * | 18,400 | 310,040 |
Meredith Corp. | 14,000 | 634,900 |
MSG Networks, Inc., Class A * | 10,175 | 194,342 |
National CineMedia, Inc. | 13,200 | 183,084 |
New Media Investment Group, Inc. | 11,500 | 165,600 |
News Corp., Class A | 74,987 | 908,842 |
News Corp., Class B | 25,000 | 310,000 |
Nexstar Broadcasting Group, Inc., Class A (c) | 4,500 | 219,600 |
Omnicom Group, Inc. | 49,700 | 3,967,054 |
Regal Entertainment Group, Class A (c) | 12,100 | 260,271 |
Salem Media Group, Inc. | 5,700 | 31,065 |
Scholastic Corp. | 7,300 | 279,225 |
Scripps Networks Interactive, Inc., Class A | 19,200 | 1,235,712 |
Sinclair Broadcast Group, Inc., Class A | 11,000 | 276,100 |
Sirius XM Holdings, Inc. * | 375,300 | 1,565,001 |
Starz, Class A * | 16,195 | 509,495 |
TEGNA, Inc. | 46,100 | 904,482 |
The E.W. Scripps Co., Class A * | 18,547 | 245,933 |
The Interpublic Group of Cos., Inc. | 73,037 | 1,635,298 |
The Madison Square Garden Co., Class A * | 5,191 | 859,059 |
The New York Times Co., Class A | 40,200 | 438,180 |
The Walt Disney Co. | 320,339 | 29,692,222 |
Time Warner, Inc. | 166,257 | 14,795,210 |
Time, Inc. | 19,122 | 248,586 |
Tribune Media Co., Class A | 18,500 | 603,100 |
Twenty-First Century Fox, Inc., Class A | 243,878 | 6,406,675 |
Twenty-First Century Fox, Inc., Class B | 98,700 | 2,604,693 |
Viacom, Inc., Class B | 75,922 | 2,851,630 |
World Wrestling Entertainment, Inc., Class A | 5,700 | 100,776 |
142,438,870 | ||
Pharmaceuticals, Biotechnology & Life Sciences 8.1% | ||
AbbVie, Inc. | 354,696 | 19,784,943 |
ACADIA Pharmaceuticals, Inc. * | 16,600 | 386,946 |
Accelerate Diagnostics, Inc. *(c) | 10,300 | 218,875 |
Acceleron Pharma, Inc. * | 12,500 | 350,375 |
Achillion Pharmaceuticals, Inc. * | 19,800 | 124,344 |
Acorda Therapeutics, Inc. * | 8,400 | 148,680 |
Aegerion Pharmaceuticals, Inc. *(c) | 1,277 | 2,196 |
Aerie Pharmaceuticals, Inc. * | 6,800 | 226,100 |
Agilent Technologies, Inc. | 71,917 | 3,133,424 |
Agios Pharmaceuticals, Inc. * | 6,000 | 287,040 |
Akorn, Inc. * | 15,400 | 368,830 |
Albany Molecular Research, Inc. * | 8,800 | 137,192 |
Alder Biopharmaceuticals, Inc. * | 14,600 | 354,050 |
Alexion Pharmaceuticals, Inc. * | 48,500 | 6,329,250 |
Alkermes plc * | 40,500 | 2,041,605 |
Allergan plc * | 84,287 | 17,610,926 |
Alnylam Pharmaceuticals, Inc. * | 15,500 | 551,800 |
AMAG Pharmaceuticals, Inc. * | 6,600 | 169,620 |
Amgen, Inc. | 161,189 | 22,753,439 |
Amicus Therapeutics, Inc. * | 27,200 | 187,680 |
Aptevo Therapeutics, Inc. * | 5,200 | 11,492 |
Aratana Therapeutics, Inc. * | 10,100 | 81,810 |
Security | Number of Shares | Value ($) |
Arena Pharmaceuticals, Inc. * | 32,100 | 47,508 |
ARIAD Pharmaceuticals, Inc. * | 57,200 | 498,784 |
ArQule, Inc. * | 21,000 | 28,140 |
Array BioPharma, Inc. * | 62,184 | 354,449 |
Arrowhead Pharmaceuticals, Inc. *(c) | 10,700 | 62,060 |
Aviragen Therapeutics, Inc. * | 26,016 | 32,780 |
Bio-Rad Laboratories, Inc., Class A * | 4,900 | 774,592 |
Bio-Techne Corp. | 7,800 | 811,122 |
BioCryst Pharmaceuticals, Inc. * | 23,900 | 96,795 |
BioDelivery Sciences International, Inc. *(c) | 14,119 | 32,474 |
Biogen, Inc. * | 46,312 | 12,975,696 |
BioMarin Pharmaceutical, Inc. * | 35,000 | 2,818,200 |
Biostage, Inc. * | 4,825 | 4,198 |
Bluebird Bio, Inc. * | 10,900 | 520,475 |
Bristol-Myers Squibb Co. | 355,353 | 18,091,021 |
Bruker Corp. | 18,000 | 368,820 |
Cambrex Corp. * | 7,200 | 290,160 |
Cascadian Therapeutics, Inc. * | 25,700 | 26,471 |
Catalent, Inc. * | 18,000 | 410,580 |
Celgene Corp. * | 166,062 | 16,968,215 |
Celldex Therapeutics, Inc. * | 25,800 | 81,270 |
Cempra, Inc. *(c) | 7,500 | 135,937 |
Cepheid * | 16,200 | 856,980 |
Charles River Laboratories International, Inc. * | 10,416 | 790,366 |
Clovis Oncology, Inc. * | 6,400 | 186,112 |
Coherus Biosciences, Inc. * | 13,200 | 361,020 |
Collegium Pharmaceutical, Inc. * | 14,300 | 214,071 |
CytomX Therapeutics, Inc. * | 19,500 | 219,765 |
Depomed, Inc. * | 14,500 | 324,220 |
Dermira, Inc. * | 17,500 | 548,625 |
Durect Corp. * | 14,500 | 16,240 |
Dynavax Technologies Corp. *(c) | 10,950 | 101,287 |
Eagle Pharmaceuticals, Inc. *(c) | 2,500 | 139,700 |
Eli Lilly & Co. | 207,689 | 15,335,756 |
Emergent BioSolutions, Inc. * | 10,400 | 277,888 |
Endo International plc * | 48,450 | 908,437 |
Endocyte, Inc. * | 11,300 | 31,075 |
Enzo Biochem, Inc. * | 43,981 | 268,284 |
Exact Sciences Corp. * | 29,800 | 464,284 |
Exelixis, Inc. * | 44,700 | 473,373 |
FibroGen, Inc. * | 12,700 | 210,185 |
Five Prime Therapeutics, Inc. * | 9,200 | 446,476 |
Fluidigm Corp. * | 6,000 | 27,780 |
Foundation Medicine, Inc. * | 6,500 | 147,550 |
Genomic Health, Inc. * | 8,400 | 250,404 |
Geron Corp. *(c) | 46,200 | 85,470 |
Gilead Sciences, Inc. | 284,192 | 20,925,057 |
Halozyme Therapeutics, Inc. * | 28,000 | 241,640 |
Harvard Bioscience, Inc. * | 19,300 | 46,320 |
Heron Therapeutics, Inc. * | 8,200 | 121,770 |
Horizon Pharma plc * | 30,500 | 509,960 |
Illumina, Inc. * | 32,000 | 4,356,480 |
ImmunoGen, Inc. *(c) | 174,500 | 317,590 |
Immunomedics, Inc. * | 64,448 | 148,230 |
Impax Laboratories, Inc. * | 13,800 | 277,380 |
INC Research Holdings, Inc., Class A * | 9,100 | 415,870 |
Incyte Corp. * | 35,800 | 3,113,526 |
Innoviva, Inc. * | 13,700 | 141,110 |
Inovio Pharmaceuticals, Inc. * | 20,194 | 130,655 |
Insmed, Inc. * | 15,000 | 194,700 |
Intercept Pharmaceuticals, Inc. * | 3,900 | 482,586 |
Intra-Cellular Therapies, Inc. * | 8,000 | 99,200 |
Intrexon Corp. *(c) | 15,900 | 414,990 |
Ionis Pharmaceuticals, Inc. * | 22,900 | 594,942 |
Ironwood Pharmaceuticals, Inc. * | 19,800 | 252,846 |
Jazz Pharmaceuticals plc * | 14,400 | 1,576,368 |
Security | Number of Shares | Value ($) |
Johnson & Johnson | 588,809 | 68,295,956 |
Juno Therapeutics, Inc. * | 13,900 | 337,631 |
Keryx Biopharmaceuticals, Inc. *(c) | 24,800 | 111,848 |
Kite Pharma, Inc. *(c) | 8,300 | 367,607 |
Lannett Co., Inc. * | 8,800 | 192,720 |
Lexicon Pharmaceuticals, Inc. * | 18,214 | 270,114 |
Ligand Pharmaceuticals, Inc. * | 4,948 | 473,672 |
Luminex Corp. * | 12,900 | 268,707 |
MacroGenics, Inc. * | 7,500 | 177,675 |
Mallinckrodt plc * | 25,602 | 1,517,175 |
MannKind Corp. * | 40,800 | 17,022 |
Merck & Co., Inc. | 591,516 | 34,733,819 |
Merrimack Pharmaceuticals, Inc. *(c) | 38,590 | 201,440 |
Mettler-Toledo International, Inc. * | 5,900 | 2,384,072 |
MiMedx Group, Inc. *(c) | 26,820 | 238,966 |
Momenta Pharmaceuticals, Inc. * | 13,500 | 150,525 |
Mylan N.V. * | 93,800 | 3,423,700 |
Myriad Genetics, Inc. * | 16,600 | 327,186 |
Nektar Therapeutics * | 43,600 | 540,640 |
Neurocrine Biosciences, Inc. * | 17,200 | 752,844 |
NewLink Genetics Corp. * | 4,700 | 57,105 |
Novavax, Inc. *(c) | 52,500 | 79,800 |
Omeros Corp. *(c) | 8,800 | 72,160 |
Ophthotech Corp. * | 8,000 | 286,560 |
OPKO Health, Inc. *(c) | 77,300 | 728,166 |
OvaScience, Inc. * | 4,900 | 24,696 |
Pacific Biosciences of California, Inc. * | 17,500 | 148,750 |
Pacira Pharmaceuticals, Inc. * | 6,500 | 206,700 |
Pain Therapeutics, Inc. * | 18,600 | 10,459 |
PAREXEL International Corp. * | 13,800 | 803,988 |
PDL BioPharma, Inc. | 28,700 | 92,414 |
PerkinElmer, Inc. | 23,577 | 1,199,834 |
Perrigo Co., plc | 29,700 | 2,470,743 |
Pfizer, Inc. | 1,310,725 | 41,563,090 |
Portola Pharmaceuticals, Inc. * | 13,300 | 241,794 |
PRA Health Sciences, Inc. * | 8,100 | 431,082 |
Prestige Brands Holdings, Inc. * | 16,300 | 738,064 |
Progenics Pharmaceuticals Inc * | 74,500 | 374,735 |
Proteostasis Therapeutics, Inc. * | 18,300 | 130,296 |
Prothena Corp. plc * | 8,919 | 426,507 |
PTC Therapeutics, Inc. * | 5,885 | 36,546 |
Puma Biotechnology, Inc. * | 4,800 | 183,840 |
Quintiles IMS Holdings, Inc. * | 30,243 | 2,169,633 |
Radius Health, Inc. * | 8,000 | 343,360 |
Reata Pharmaceuticals, Inc., Class A *(c) | 9,700 | 219,608 |
Regeneron Pharmaceuticals, Inc. * | 16,100 | 5,554,822 |
Repligen Corp. * | 9,886 | 282,443 |
Retrophin, Inc. * | 9,400 | 177,190 |
Revance Therapeutics, Inc. * | 16,500 | 220,275 |
Rigel Pharmaceuticals, Inc. * | 48,200 | 125,320 |
Sage Therapeutics, Inc. * | 13,800 | 600,852 |
Sangamo BioSciences, Inc. * | 14,600 | 51,830 |
Sarepta Therapeutics, Inc. * | 9,800 | 384,552 |
Seattle Genetics, Inc. * | 23,400 | 1,209,780 |
Seres Therapeutics, Inc. * | 20,000 | 215,800 |
Spark Therapeutics, Inc. * | 5,900 | 277,359 |
Spectrum Pharmaceuticals, Inc. * | 24,200 | 85,668 |
Sucampo Pharmaceuticals, Inc., Class A * | 4,300 | 49,020 |
Supernus Pharmaceuticals, Inc. * | 27,100 | 536,580 |
Synergy Pharmaceuticals, Inc. * | 103,300 | 474,147 |
TESARO, Inc. * | 6,195 | 748,852 |
TG Therapeutics, Inc. * | 39,200 | 209,720 |
The Medicines Co. * | 15,600 | 514,020 |
TherapeuticsMD, Inc. * | 35,777 | 205,360 |
Theravance Biopharma, Inc. * | 3,914 | 98,359 |
Thermo Fisher Scientific, Inc. | 85,302 | 12,541,953 |
Trevena, Inc. * | 56,700 | 276,696 |
Ultragenyx Pharmaceutical, Inc. * | 7,700 | 454,223 |
Security | Number of Shares | Value ($) |
United Therapeutics Corp. * | 9,100 | 1,092,637 |
Vanda Pharmaceuticals, Inc. * | 13,953 | 207,202 |
Vertex Pharmaceuticals, Inc. * | 51,944 | 3,940,472 |
VWR Corp. * | 19,000 | 522,690 |
Waters Corp. * | 16,100 | 2,240,154 |
Xencor, Inc. * | 19,900 | 423,671 |
ZIOPHARM Oncology, Inc. *(c) | 33,811 | 192,046 |
Zoetis, Inc. | 108,679 | 5,194,856 |
Zogenix, Inc. * | 27,800 | 226,570 |
394,895,300 | ||
Real Estate 4.2% | ||
Acadia Realty Trust | 23,300 | 784,977 |
Agree Realty Corp. | 5,000 | 241,750 |
Alexander & Baldwin, Inc. | 17,800 | 743,862 |
Alexander's, Inc. | 800 | 307,416 |
Alexandria Real Estate Equities, Inc. | 15,800 | 1,703,398 |
Altisource Portfolio Solutions S.A. * | 2,800 | 72,100 |
American Assets Trust, Inc. | 8,000 | 317,680 |
American Campus Communities, Inc. | 29,900 | 1,558,089 |
American Homes 4 Rent, Class A | 44,300 | 935,173 |
American Realty Investors, Inc. * | 1,537 | 10,398 |
American Tower Corp. | 92,344 | 10,821,793 |
Apartment Investment & Management Co., Class A | 39,211 | 1,728,029 |
Apple Hospitality REIT, Inc. | 35,000 | 631,050 |
Ashford Hospitality Prime, Inc. | 2,168 | 28,097 |
Ashford Hospitality Trust, Inc. | 9,000 | 52,290 |
AV Homes, Inc. * | 6,500 | 103,675 |
AvalonBay Communities, Inc. | 28,919 | 4,950,354 |
Boston Properties, Inc. | 31,100 | 3,746,928 |
Brandywine Realty Trust | 62,663 | 971,277 |
Brixmor Property Group, Inc. | 53,100 | 1,349,802 |
Camden Property Trust | 17,500 | 1,425,200 |
Care Capital Properties, Inc. | 16,741 | 444,808 |
CareTrust REIT, Inc. | 7,131 | 100,404 |
CBL & Associates Properties, Inc. | 26,785 | 286,600 |
CBRE Group, Inc., Class A * | 57,000 | 1,468,320 |
Cedar Realty Trust, Inc. | 33,200 | 224,764 |
Chatham Lodging Trust | 8,234 | 145,742 |
Chesapeake Lodging Trust | 18,500 | 401,635 |
Colony Starwood Homes | 6,440 | 186,824 |
Columbia Property Trust, Inc. | 43,500 | 916,980 |
Communications Sales & Leasing, Inc. * | 42,753 | 1,215,468 |
Consolidated-Tomoka Land Co. | 2,000 | 101,340 |
CorEnergy Infrastructure Trust, Inc. | 8,700 | 235,596 |
CoreSite Realty Corp. | 7,300 | 538,302 |
Corporate Office Properties Trust | 14,400 | 384,336 |
Corrections Corp. of America | 30,985 | 447,733 |
Cousins Properties, Inc. | 77,697 | 603,706 |
Crown Castle International Corp. | 70,723 | 6,435,086 |
CubeSmart | 41,400 | 1,079,298 |
CyrusOne, Inc. | 17,600 | 785,136 |
DCT Industrial Trust, Inc. | 15,900 | 743,325 |
DDR Corp. | 54,584 | 834,589 |
DiamondRock Hospitality Co. | 59,386 | 543,382 |
Digital Realty Trust, Inc. | 29,900 | 2,793,557 |
Douglas Emmett, Inc. | 24,948 | 910,602 |
Duke Realty Corp. | 69,590 | 1,819,779 |
DuPont Fabros Technology, Inc. | 17,100 | 697,851 |
EastGroup Properties, Inc. | 6,300 | 427,833 |
Education Realty Trust, Inc. | 14,966 | 637,402 |
Empire State Realty Trust, Inc., Class A | 22,502 | 440,364 |
EPR Properties | 13,600 | 988,992 |
Equinix, Inc. | 14,973 | 5,349,553 |
Equity Commonwealth * | 23,450 | 708,425 |
Equity LifeStyle Properties, Inc. | 20,700 | 1,569,888 |
Security | Number of Shares | Value ($) |
Equity One, Inc. | 12,100 | 344,850 |
Equity Residential | 79,400 | 4,902,950 |
Essex Property Trust, Inc. | 16,189 | 3,465,903 |
Extra Space Storage, Inc. | 26,200 | 1,916,530 |
Federal Realty Investment Trust | 15,200 | 2,207,496 |
FelCor Lodging Trust, Inc. | 28,000 | 178,920 |
First Industrial Realty Trust, Inc. | 42,800 | 1,130,348 |
First Potomac Realty Trust | 14,800 | 132,016 |
Forest City Realty Trust, Inc., Class A | 45,500 | 982,345 |
Forestar Group, Inc. * | 4,933 | 54,263 |
Four Corners Property Trust, Inc. | 11,616 | 233,249 |
Franklin Street Properties Corp. | 22,500 | 260,325 |
Gaming & Leisure Properties, Inc. | 50,948 | 1,672,623 |
General Growth Properties, Inc. | 125,309 | 3,126,460 |
Getty Realty Corp. | 9,552 | 217,117 |
Global Net Lease, Inc. | 40,000 | 296,400 |
Government Properties Income Trust | 9,900 | 189,486 |
Gramercy Property Trust | 108,912 | 1,004,169 |
Griffin Industrial Realty, Inc. | 300 | 9,345 |
HCP, Inc. | 95,548 | 3,272,519 |
Healthcare Realty Trust, Inc. | 15,800 | 503,862 |
Healthcare Trust of America, Inc., Class A | 29,300 | 896,580 |
Hersha Hospitality Trust | 10,000 | 178,200 |
HFF, Inc., Class A | 9,800 | 260,974 |
Highwoods Properties, Inc. | 17,261 | 856,663 |
Hospitality Properties Trust | 39,500 | 1,080,720 |
Host Hotels & Resorts, Inc. | 166,663 | 2,579,943 |
Hudson Pacific Properties, Inc. | 30,500 | 1,025,410 |
Investors Real Estate Trust | 28,600 | 173,602 |
Iron Mountain, Inc. | 60,173 | 2,029,635 |
iStar, Inc. * | 13,390 | 149,031 |
Jones Lang LaSalle, Inc. | 9,300 | 900,705 |
Kennedy-Wilson Holdings, Inc. | 12,200 | 251,320 |
Kilroy Realty Corp. | 20,000 | 1,436,600 |
Kimco Realty Corp. | 82,295 | 2,189,870 |
Kite Realty Group Trust | 15,825 | 394,517 |
Lamar Advertising Co., Class A | 16,100 | 1,021,545 |
LaSalle Hotel Properties | 19,700 | 467,875 |
Lexington Realty Trust | 33,567 | 340,369 |
Liberty Property Trust | 33,100 | 1,338,233 |
Life Storage, Inc. | 8,726 | 703,752 |
LTC Properties, Inc. | 8,700 | 435,957 |
Mack-Cali Realty Corp. | 18,500 | 475,080 |
Maui Land & Pineapple Co., Inc. * | 800 | 5,400 |
Medical Properties Trust, Inc. | 65,300 | 910,282 |
Mid-America Apartment Communities, Inc. | 15,144 | 1,404,606 |
Monmouth Real Estate Investment Corp. | 18,100 | 247,427 |
Monogram Residential Trust, Inc. | 55,400 | 583,916 |
National Health Investors, Inc. | 5,900 | 446,984 |
National Retail Properties, Inc. | 29,220 | 1,333,016 |
New Century Financial Corp. *(b)(f) | 3,600 | — |
New Senior Investment Group, Inc. | 20,583 | 214,475 |
New York REIT, Inc. | 47,400 | 446,508 |
NorthStar Realty Europe Corp. | 10,512 | 103,964 |
NorthStar Realty Finance Corp. | 31,537 | 457,917 |
Omega Healthcare Investors, Inc. | 32,494 | 1,034,284 |
One Liberty Properties, Inc. | 1,400 | 32,984 |
Outfront Media, Inc. | 36,703 | 789,482 |
Paramount Group, Inc. | 45,900 | 713,745 |
Parkway, Inc. * | 9,712 | 175,010 |
Pebblebrook Hotel Trust | 12,300 | 298,644 |
Pennsylvania Real Estate Investment Trust | 13,900 | 271,189 |
Physicians Realty Trust | 24,400 | 482,388 |
Piedmont Office Realty Trust, Inc., Class A | 52,600 | 1,077,248 |
Post Properties, Inc. | 8,200 | 539,478 |
Potlatch Corp. | 5,753 | 220,915 |
Security | Number of Shares | Value ($) |
Preferred Apartment Communities, Inc., Class A | 3,700 | 48,174 |
Prologis, Inc. | 122,234 | 6,375,725 |
PS Business Parks, Inc. | 6,800 | 746,572 |
Public Storage | 30,997 | 6,624,679 |
QTS Realty Trust, Inc., Class A | 9,100 | 418,236 |
RAIT Financial Trust | 16,199 | 49,407 |
Ramco-Gershenson Properties Trust | 22,500 | 390,150 |
Rayonier, Inc. | 32,182 | 863,121 |
Realogy Holdings Corp. | 29,400 | 672,966 |
Realty Income Corp. | 62,935 | 3,728,269 |
Regency Centers Corp. | 20,233 | 1,458,192 |
Retail Opportunity Investments Corp. | 14,400 | 289,584 |
Retail Properties of America, Inc., Class A | 41,600 | 647,712 |
RLJ Lodging Trust | 30,400 | 599,488 |
Ryman Hospitality Properties, Inc. | 15,237 | 768,250 |
Sabra Health Care REIT, Inc. | 13,700 | 319,210 |
Saul Centers, Inc. | 4,700 | 284,256 |
Select Income REIT | 14,600 | 361,204 |
Senior Housing Properties Trust | 57,819 | 1,229,810 |
Seritage Growth Properties, Class A | 5,300 | 241,415 |
Silver Bay Realty Trust Corp. | 13,033 | 218,303 |
Simon Property Group, Inc. | 66,611 | 12,386,982 |
SL Green Realty Corp. | 19,566 | 1,921,773 |
Spirit Realty Capital, Inc. | 89,048 | 1,060,562 |
STAG Industrial, Inc. | 11,900 | 274,533 |
STORE Capital Corp. | 40,100 | 1,094,329 |
Summit Hotel Properties, Inc. | 9,600 | 124,704 |
Sun Communities, Inc. | 11,300 | 869,309 |
Sunstone Hotel Investors, Inc. | 62,013 | 778,883 |
Tanger Factory Outlet Centers, Inc. | 15,600 | 542,880 |
Taubman Centers, Inc. | 11,600 | 840,536 |
Tejon Ranch Co. * | 3,674 | 82,077 |
Terreno Realty Corp. | 10,000 | 261,000 |
The GEO Group, Inc. | 19,899 | 476,780 |
The Howard Hughes Corp. * | 10,000 | 1,098,300 |
The Macerich Co. | 27,405 | 1,939,726 |
The RMR Group, Inc., Class A | 1,189 | 40,842 |
The St. Joe Co. * | 18,800 | 332,760 |
Tier REIT, Inc. | 20,000 | 295,000 |
UDR, Inc. | 71,261 | 2,491,997 |
UMH Properties, Inc. | 7,900 | 95,748 |
Universal Health Realty Income Trust | 4,700 | 275,890 |
Urban Edge Properties | 16,046 | 414,147 |
Urstadt Biddle Properties, Inc., Class A | 4,500 | 96,750 |
Ventas, Inc. | 75,366 | 5,106,046 |
VEREIT, Inc. | 256,000 | 2,406,400 |
Vornado Realty Trust | 36,192 | 3,357,894 |
Washington Prime Group, Inc. | 33,804 | 354,604 |
Washington Real Estate Investment Trust | 9,700 | 285,374 |
Weingarten Realty Investors | 23,175 | 839,167 |
Welltower, Inc. | 75,958 | 5,205,402 |
Weyerhaeuser Co. | 160,707 | 4,809,961 |
Whitestone REIT | 2,100 | 27,930 |
WP Carey, Inc. | 22,700 | 1,378,798 |
Xenia Hotels & Resorts, Inc. | 35,200 | 549,472 |
202,479,856 | ||
Retailing 5.1% | ||
Aaron's, Inc. | 14,675 | 362,619 |
Abercrombie & Fitch Co., Class A | 11,800 | 172,398 |
Advance Auto Parts, Inc. | 15,340 | 2,148,827 |
Amazon.com, Inc. * | 84,725 | 66,917,499 |
America's Car-Mart, Inc. * | 6,850 | 279,823 |
American Eagle Outfitters, Inc. | 40,750 | 694,380 |
Asbury Automotive Group, Inc. * | 6,500 | 331,175 |
Ascena Retail Group, Inc. * | 34,141 | 166,949 |
Security | Number of Shares | Value ($) |
AutoNation, Inc. * | 13,800 | 605,406 |
AutoZone, Inc. * | 6,200 | 4,601,392 |
Barnes & Noble Education, Inc. * | 4,676 | 43,534 |
Barnes & Noble, Inc. | 7,400 | 76,220 |
Bed Bath & Beyond, Inc. | 35,500 | 1,434,910 |
Best Buy Co., Inc. | 63,425 | 2,467,867 |
Big Lots, Inc. | 9,200 | 399,280 |
Burlington Stores, Inc. * | 17,000 | 1,273,980 |
Cabela's, Inc. * | 7,700 | 474,397 |
Caleres, Inc. | 6,675 | 166,942 |
CarMax, Inc. * | 40,246 | 2,009,885 |
Chico's FAS, Inc. | 26,200 | 305,754 |
Conn's, Inc. *(c) | 7,900 | 75,050 |
Core-Mark Holding Co., Inc. | 8,000 | 282,800 |
CST Brands, Inc. | 21,286 | 1,022,154 |
Destination Maternity Corp. | 5,000 | 33,950 |
Dick's Sporting Goods, Inc. | 17,500 | 973,875 |
Dillard's, Inc., Class A | 4,300 | 263,590 |
Dollar General Corp. | 59,625 | 4,119,491 |
Dollar Tree, Inc. * | 49,344 | 3,727,939 |
DSW, Inc., Class A | 11,560 | 240,101 |
Etsy, Inc. * | 31,300 | 406,274 |
Expedia, Inc. | 24,469 | 3,162,129 |
Express, Inc. * | 12,600 | 151,452 |
Five Below, Inc. * | 15,800 | 593,764 |
Foot Locker, Inc. | 29,900 | 1,996,423 |
Francesca's Holdings Corp. * | 13,300 | 213,731 |
Fred's, Inc., Class A | 6,700 | 61,171 |
FTD Cos., Inc. * | 8,070 | 162,368 |
GameStop Corp., Class A | 19,348 | 465,319 |
Genesco, Inc. * | 4,300 | 231,340 |
Genuine Parts Co. | 30,300 | 2,744,877 |
GNC Holdings, Inc., Class A | 15,500 | 208,165 |
Group 1 Automotive, Inc. | 4,400 | 265,188 |
Groupon, Inc. * | 88,400 | 352,716 |
Guess?, Inc. | 16,800 | 226,800 |
Hibbett Sports, Inc. * | 3,543 | 137,646 |
HSN, Inc. | 6,269 | 236,341 |
J.C. Penney Co., Inc. * | 72,200 | 620,198 |
Kirkland's, Inc. * | 8,700 | 106,227 |
Kohl's Corp. | 39,600 | 1,732,500 |
L Brands, Inc. | 51,320 | 3,704,791 |
Lands' End, Inc. *(c) | 7,747 | 120,853 |
Liberty Interactive Corp., QVC Group, Class A * | 90,809 | 1,679,058 |
Liberty TripAdvisor Holdings, Inc., Class A * | 13,830 | 307,026 |
Liberty Ventures, Series A * | 25,347 | 1,011,345 |
Lithia Motors, Inc., Class A | 7,100 | 609,038 |
LKQ Corp. * | 58,900 | 1,901,292 |
Lowe's Cos., Inc. | 190,951 | 12,726,884 |
Lumber Liquidators Holdings, Inc. * | 4,600 | 71,346 |
Macy's, Inc. | 63,863 | 2,330,361 |
MarineMax, Inc. * | 16,300 | 325,185 |
Monro Muffler Brake, Inc. | 10,162 | 558,910 |
Murphy USA, Inc. * | 6,875 | 472,863 |
Netflix, Inc. * | 93,347 | 11,656,240 |
Nordstrom, Inc. | 26,300 | 1,367,600 |
Nutrisystem, Inc. | 13,300 | 421,610 |
O'Reilly Automotive, Inc. * | 19,799 | 5,235,648 |
Office Depot, Inc. | 99,656 | 313,916 |
Penske Automotive Group, Inc. | 9,100 | 407,225 |
Pier 1 Imports, Inc. | 15,800 | 68,098 |
Pool Corp. | 9,962 | 922,282 |
Rent-A-Center, Inc. | 7,750 | 78,198 |
Restoration Hardware Holdings, Inc. *(c) | 6,300 | 182,511 |
Ross Stores, Inc. | 85,800 | 5,365,932 |
Sally Beauty Holdings, Inc. * | 31,150 | 808,031 |
Security | Number of Shares | Value ($) |
Sears Holdings Corp. *(c) | 26,785 | 297,581 |
Select Comfort Corp. * | 12,200 | 234,118 |
Shoe Carnival, Inc. | 6,300 | 159,831 |
Shutterfly, Inc. * | 6,300 | 308,700 |
Signet Jewelers Ltd. (c) | 16,800 | 1,365,168 |
Sonic Automotive, Inc., Class A | 11,200 | 200,480 |
Stage Stores, Inc. | 14,275 | 72,660 |
Staples, Inc. | 131,200 | 970,880 |
Stein Mart, Inc. | 10,300 | 62,006 |
Tailored Brands, Inc. | 21,100 | 333,380 |
Target Corp. | 125,378 | 8,617,230 |
The Buckle, Inc. (c) | 3,875 | 80,794 |
The Cato Corp., Class A | 7,100 | 210,657 |
The Children's Place, Inc. | 3,600 | 273,420 |
The Finish Line, Inc., Class A | 7,161 | 141,000 |
The Gap, Inc. | 51,800 | 1,429,162 |
The Home Depot, Inc. | 265,063 | 32,340,337 |
The Michaels Cos., Inc. * | 16,000 | 372,000 |
The Priceline Group, Inc. * | 10,676 | 15,738,879 |
The TJX Cos., Inc. | 137,947 | 10,173,591 |
Tiffany & Co. | 22,200 | 1,629,924 |
Tile Shop Holdings, Inc. * | 13,900 | 235,605 |
Tractor Supply Co. | 30,100 | 1,885,163 |
Trans World Entertainment Corp. * | 9,700 | 37,830 |
TripAdvisor, Inc. * | 22,272 | 1,436,099 |
Tuesday Morning Corp. * | 10,800 | 53,460 |
Ulta Salon, Cosmetics & Fragrance, Inc. * | 13,800 | 3,358,092 |
Urban Outfitters, Inc. * | 18,000 | 602,100 |
Vitamin Shoppe, Inc. * | 4,200 | 105,210 |
Wayfair, Inc., Class A *(c) | 7,500 | 249,975 |
West Marine, Inc. * | 8,200 | 65,600 |
Williams-Sonoma, Inc. | 16,200 | 748,764 |
Winmark Corp. | 1,700 | 181,815 |
Zumiez, Inc. * | 10,500 | 233,625 |
246,598,195 | ||
Semiconductors & Semiconductor Equipment 3.1% | ||
Acacia Communications, Inc. *(c) | 3,100 | 216,039 |
Advanced Energy Industries, Inc. * | 12,500 | 596,250 |
Advanced Micro Devices, Inc. * | 164,900 | 1,192,227 |
Amkor Technology, Inc. * | 35,700 | 330,939 |
Amtech Systems, Inc. * | 3,500 | 15,785 |
Analog Devices, Inc. | 65,249 | 4,182,461 |
Applied Materials, Inc. | 232,598 | 6,763,950 |
Applied Micro Circuits Corp. * | 21,300 | 157,620 |
AXT, Inc. * | 3,500 | 18,025 |
Broadcom Ltd. | 86,404 | 14,712,873 |
Brooks Automation, Inc. | 11,885 | 154,862 |
Cabot Microelectronics Corp. | 5,660 | 312,772 |
Cavium, Inc. * | 12,070 | 681,351 |
CEVA, Inc. * | 7,233 | 217,352 |
Cirrus Logic, Inc. * | 9,800 | 529,004 |
Cohu, Inc. | 7,500 | 83,925 |
Cree, Inc. * | 20,900 | 466,070 |
Cypress Semiconductor Corp. | 69,226 | 690,183 |
Diodes, Inc. * | 11,012 | 228,058 |
DSP Group, Inc. * | 6,300 | 68,670 |
Entegris, Inc. * | 48,499 | 771,134 |
Exar Corp. * | 9,834 | 88,703 |
First Solar, Inc. * | 16,479 | 667,235 |
FormFactor, Inc. * | 14,600 | 131,035 |
GSI Technology, Inc. * | 8,500 | 44,880 |
Inphi Corp. * | 14,400 | 534,240 |
Integrated Device Technology, Inc. * | 26,920 | 557,513 |
Intel Corp. | 1,016,597 | 35,448,737 |
Intersil Corp., Class A | 26,764 | 590,949 |
IXYS Corp. | 6,900 | 73,140 |
Security | Number of Shares | Value ($) |
KLA-Tencor Corp. | 32,500 | 2,441,075 |
Kopin Corp. * | 19,600 | 40,964 |
Kulicke & Soffa Industries, Inc. * | 18,500 | 244,940 |
Lam Research Corp. | 34,267 | 3,319,102 |
Lattice Semiconductor Corp. * | 25,100 | 152,357 |
Linear Technology Corp. | 49,900 | 2,996,994 |
MACOM Technology Solutions Holdings, Inc. * | 6,300 | 231,588 |
Marvell Technology Group Ltd. | 111,400 | 1,451,542 |
Maxim Integrated Products, Inc. | 61,700 | 2,445,171 |
MaxLinear, Inc., Class A * | 4,422 | 82,736 |
Microchip Technology, Inc. | 44,880 | 2,717,485 |
Micron Technology, Inc. * | 230,807 | 3,960,648 |
Microsemi Corp. * | 26,738 | 1,126,472 |
MKS Instruments, Inc. | 14,000 | 706,300 |
Monolithic Power Systems, Inc. | 6,500 | 512,265 |
Nanometrics, Inc. * | 5,300 | 110,717 |
NVIDIA Corp. | 112,900 | 8,033,964 |
ON Semiconductor Corp. * | 75,165 | 877,175 |
PDF Solutions, Inc. * | 9,699 | 191,555 |
Photronics, Inc. * | 18,000 | 174,600 |
Power Integrations, Inc. | 4,200 | 270,690 |
Qorvo, Inc. * | 30,074 | 1,673,618 |
QUALCOMM, Inc. | 317,739 | 21,835,024 |
QuickLogic Corp. * | 27,600 | 22,632 |
Rambus, Inc. * | 19,600 | 238,924 |
Rudolph Technologies, Inc. * | 16,418 | 297,166 |
Semtech Corp. * | 21,700 | 525,140 |
Silicon Laboratories, Inc. * | 9,200 | 551,540 |
Skyworks Solutions, Inc. | 40,689 | 3,130,612 |
SunPower Corp. *(c) | 15,500 | 112,220 |
Synaptics, Inc. * | 8,450 | 440,414 |
Teradyne, Inc. | 34,959 | 814,195 |
Tessera Technologies, Inc. | 11,100 | 411,810 |
Texas Instruments, Inc. | 215,697 | 15,282,132 |
Ultratech, Inc. * | 4,800 | 102,192 |
Veeco Instruments, Inc. * | 8,800 | 190,960 |
Versum Materials, Inc. * | 24,700 | 560,690 |
Xcerra Corp. * | 19,192 | 105,748 |
Xilinx, Inc. | 52,900 | 2,691,023 |
151,600,362 | ||
Software & Services 12.6% | ||
2U, Inc. * | 7,000 | 244,020 |
8x8, Inc. * | 25,000 | 356,250 |
Accenture plc, Class A | 132,197 | 15,366,579 |
ACI Worldwide, Inc. * | 23,100 | 418,572 |
Activision Blizzard, Inc. | 150,232 | 6,485,515 |
Actua Corp. * | 8,050 | 93,783 |
Acxiom Corp. * | 13,300 | 313,348 |
Adobe Systems, Inc. * | 105,710 | 11,364,882 |
Akamai Technologies, Inc. * | 37,038 | 2,573,030 |
Alliance Data Systems Corp. * | 11,844 | 2,421,743 |
Alphabet, Inc., Class A * | 63,676 | 51,571,192 |
Alphabet, Inc., Class C * | 63,527 | 49,839,473 |
Amdocs Ltd. | 34,600 | 2,022,370 |
Angie's List, Inc. * | 22,248 | 171,310 |
ANSYS, Inc. * | 19,286 | 1,761,776 |
Apigee Corp. * | 14,100 | 244,635 |
Aspen Technology, Inc. * | 15,400 | 758,296 |
Autodesk, Inc. * | 42,000 | 3,035,760 |
Automatic Data Processing, Inc. | 98,262 | 8,554,690 |
Bankrate, Inc. * | 14,600 | 113,880 |
Bazaarvoice, Inc. * | 15,200 | 74,480 |
Blackbaud, Inc. | 13,400 | 822,760 |
Blackhawk Network Holdings, Inc. * | 12,003 | 413,503 |
Blucora, Inc. * | 11,572 | 153,908 |
Security | Number of Shares | Value ($) |
Booz Allen Hamilton Holding Corp. | 24,800 | 755,656 |
Bottomline Technologies de, Inc. * | 8,800 | 199,672 |
Broadridge Financial Solutions, Inc. | 23,825 | 1,540,524 |
BroadSoft, Inc. * | 6,500 | 270,075 |
CA, Inc. | 69,408 | 2,133,602 |
CACI International, Inc., Class A * | 4,100 | 401,185 |
Cadence Design Systems, Inc. * | 62,500 | 1,598,750 |
Callidus Software, Inc. * | 16,546 | 301,965 |
Carbonite, Inc. * | 14,300 | 243,815 |
Cardtronics plc, Class A * | 8,800 | 440,000 |
CDK Global, Inc. | 32,620 | 1,781,378 |
Ciber, Inc. * | 24,900 | 25,398 |
Citrix Systems, Inc. * | 30,800 | 2,611,840 |
Cognizant Technology Solutions Corp., Class A * | 125,800 | 6,459,830 |
CommerceHub, Inc., Series A * | 2,534 | 38,061 |
CommerceHub, Inc., Series C * | 5,069 | 76,288 |
CommVault Systems, Inc. * | 6,900 | 369,150 |
Computer Sciences Corp. | 27,638 | 1,504,889 |
comScore, Inc. * | 10,950 | 315,251 |
Convergys Corp. | 16,000 | 467,200 |
CoreLogic, Inc. * | 23,100 | 983,136 |
Cornerstone OnDemand, Inc. * | 19,500 | 805,350 |
CoStar Group, Inc. * | 6,600 | 1,234,992 |
Covisint Corp. * | 4,460 | 10,035 |
CSG Systems International, Inc. | 8,900 | 338,467 |
CSRA, Inc. | 27,638 | 693,437 |
Dell Technologies, Inc., Class V * | 46,077 | 2,261,920 |
Demand Media, Inc. * | 5,920 | 34,336 |
Digimarc Corp. * | 3,542 | 111,927 |
DST Systems, Inc. | 5,900 | 567,344 |
EarthLink Holdings Corp. | 17,050 | 97,526 |
eBay, Inc. * | 227,344 | 6,481,577 |
Ebix, Inc. | 8,303 | 464,968 |
Edgewater Technology, Inc. * | 767 | 6,251 |
Electronic Arts, Inc. * | 65,900 | 5,174,468 |
Ellie Mae, Inc. * | 8,393 | 888,735 |
Endurance International Group Holdings, Inc. * | 13,300 | 97,755 |
EnerNOC, Inc. * | 9,754 | 50,721 |
Envestnet, Inc. * | 7,300 | 258,055 |
EPAM Systems, Inc. * | 7,800 | 502,086 |
Euronet Worldwide, Inc. * | 11,900 | 946,645 |
Everi Holdings, Inc. * | 28,300 | 56,883 |
EVERTEC, Inc. | 14,000 | 212,100 |
ExlService Holdings, Inc. * | 7,200 | 317,016 |
Facebook, Inc., Class A * | 500,707 | 65,587,610 |
Fair Isaac Corp. | 8,544 | 1,031,090 |
Fidelity National Information Services, Inc. | 74,391 | 5,498,983 |
FireEye, Inc. * | 39,700 | 461,314 |
First Data Corp., Class A * | 35,000 | 489,650 |
Fiserv, Inc. * | 48,600 | 4,786,128 |
FleetCor Technologies, Inc. * | 27,800 | 4,873,340 |
Forrester Research, Inc. | 6,800 | 253,300 |
Fortinet, Inc. * | 26,700 | 856,002 |
Gartner, Inc. * | 18,100 | 1,557,324 |
Genpact Ltd. * | 28,274 | 650,019 |
Gigamon, Inc. * | 9,700 | 536,410 |
Global Payments, Inc. | 32,728 | 2,373,435 |
Glu Mobile, Inc. *(c) | 38,900 | 77,022 |
GoDaddy, Inc., Class A * | 15,100 | 540,429 |
Gogo, Inc. *(c) | 16,000 | 161,760 |
GrubHub, Inc. * | 20,400 | 777,444 |
GSE Systems, Inc. * | 2,424 | 7,030 |
Guidewire Software, Inc. * | 14,700 | 844,515 |
HubSpot, Inc. * | 11,300 | 592,685 |
IAC/InterActiveCorp | 18,072 | 1,164,560 |
Imperva, Inc. * | 8,262 | 304,868 |
Security | Number of Shares | Value ($) |
inContact, Inc. * | 20,172 | 280,593 |
Infoblox, Inc. * | 8,600 | 227,900 |
Information Services Group, Inc. * | 7,500 | 29,625 |
Interactive Intelligence Group, Inc. * | 2,900 | 175,305 |
Internap Corp. * | 13,200 | 16,500 |
International Business Machines Corp. | 187,251 | 28,778,606 |
Intralinks Holdings, Inc. * | 12,200 | 111,874 |
Intuit, Inc. | 54,530 | 5,929,592 |
j2 Global, Inc. | 9,000 | 640,350 |
Jack Henry & Associates, Inc. | 16,500 | 1,336,830 |
Jive Software, Inc. * | 27,994 | 110,576 |
Leidos Holdings, Inc. | 37,900 | 1,575,503 |
LinkedIn Corp., Class A * | 25,600 | 4,853,760 |
Lionbridge Technologies, Inc. * | 19,500 | 94,185 |
Liquidity Services, Inc. * | 15,481 | 137,007 |
LivePerson, Inc. * | 19,700 | 167,450 |
LogMeIn, Inc. | 7,600 | 722,000 |
Manhattan Associates, Inc. * | 16,300 | 825,432 |
ManTech International Corp., Class A | 8,600 | 333,938 |
MasterCard, Inc., Class A | 204,556 | 21,891,583 |
MAXIMUS, Inc. | 16,300 | 848,578 |
Mentor Graphics Corp. | 23,800 | 687,820 |
Microsoft Corp. | 1,681,918 | 100,780,527 |
MicroStrategy, Inc., Class A * | 2,256 | 439,491 |
Mitek Systems, Inc. * | 34,300 | 231,525 |
MoneyGram International, Inc. * | 9,037 | 63,349 |
Monotype Imaging Holdings, Inc. | 6,500 | 124,150 |
Monster Worldwide, Inc. * | 35,800 | 122,078 |
NetSuite, Inc. * | 7,900 | 735,648 |
NeuStar, Inc., Class A * | 9,300 | 208,785 |
New Relic, Inc. * | 7,000 | 255,150 |
NIC, Inc. | 26,000 | 596,700 |
Nuance Communications, Inc. * | 59,974 | 840,835 |
Oracle Corp. | 645,813 | 24,812,135 |
Pandora Media, Inc. * | 55,300 | 626,549 |
Paychex, Inc. | 68,964 | 3,806,813 |
Paycom Software, Inc. * | 10,700 | 553,511 |
Paylocity Holding Corp. * | 8,900 | 387,061 |
PayPal Holdings, Inc. * | 237,544 | 9,896,083 |
Pegasystems, Inc. | 12,800 | 395,520 |
Perficient, Inc. * | 7,800 | 145,158 |
PRGX Global, Inc. * | 11,000 | 50,050 |
Progress Software Corp. * | 9,300 | 250,263 |
Proofpoint, Inc. * | 9,000 | 705,420 |
PROS Holdings, Inc. * | 7,826 | 171,546 |
PTC, Inc. * | 29,380 | 1,393,787 |
Qualys, Inc. * | 5,600 | 208,600 |
Quotient Technology, Inc. * | 18,100 | 191,860 |
Rackspace Hosting, Inc. * | 23,700 | 756,978 |
RealPage, Inc. * | 10,500 | 285,600 |
Red Hat, Inc. * | 36,600 | 2,834,670 |
Reis, Inc. | 1,400 | 27,510 |
Rightside Group Ltd. * | 5,920 | 49,787 |
RingCentral, Inc., Class A * | 24,600 | 509,220 |
Sabre Corp. | 43,200 | 1,115,856 |
salesforce.com, Inc. * | 139,422 | 10,478,958 |
Science Applications International Corp. | 11,785 | 812,104 |
Seachange International, Inc. * | 9,250 | 24,328 |
ServiceNow, Inc. * | 31,800 | 2,795,538 |
ServiceSource International, Inc. * | 14,400 | 68,400 |
Shutterstock, Inc. * | 4,000 | 235,960 |
Splunk, Inc. * | 27,000 | 1,625,130 |
SPS Commerce, Inc. * | 4,300 | 268,234 |
SS&C Technologies Holdings, Inc. | 33,400 | 1,066,462 |
Stamps.com, Inc. * | 5,827 | 568,424 |
StarTek, Inc. * | 3,900 | 26,130 |
Sykes Enterprises, Inc. * | 11,026 | 294,835 |
Symantec Corp. | 139,573 | 3,493,512 |
Security | Number of Shares | Value ($) |
Synchronoss Technologies, Inc. * | 8,100 | 297,351 |
Synopsys, Inc. * | 28,084 | 1,665,662 |
Syntel, Inc. | 8,600 | 172,860 |
Tableau Software, Inc., Class A * | 10,742 | 516,153 |
Take-Two Interactive Software, Inc. * | 22,600 | 1,003,214 |
Tangoe, Inc. * | 8,200 | 70,356 |
TeleTech Holdings, Inc. | 9,100 | 255,710 |
Teradata Corp. * | 27,000 | 727,920 |
The Hackett Group, Inc. | 7,200 | 116,064 |
The Ultimate Software Group, Inc. * | 6,600 | 1,392,534 |
The Western Union Co. | 102,032 | 2,047,782 |
TiVo Corp. * | 22,270 | 442,059 |
Total System Services, Inc. | 36,904 | 1,840,772 |
Travelport Worldwide Ltd. | 20,000 | 282,400 |
Twitter, Inc. * | 136,400 | 2,448,380 |
Tyler Technologies, Inc. * | 6,800 | 1,090,720 |
Unisys Corp. *(c) | 18,200 | 190,190 |
Vantiv, Inc., Class A * | 29,400 | 1,715,784 |
VASCO Data Security International, Inc. * | 9,200 | 126,500 |
Verint Systems, Inc. * | 16,210 | 583,560 |
VeriSign, Inc. * | 22,275 | 1,871,545 |
Virtusa Corp. * | 4,700 | 89,018 |
Visa, Inc., Class A | 404,804 | 33,400,378 |
VMware, Inc., Class A * | 17,100 | 1,344,060 |
Web.com Group, Inc. * | 18,523 | 298,220 |
WebMD Health Corp. * | 7,074 | 347,546 |
WEX, Inc. * | 8,900 | 970,990 |
Workday, Inc., Class A * | 23,600 | 2,045,648 |
Xerox Corp. | 194,056 | 1,895,927 |
Yahoo! Inc. * | 182,944 | 7,601,323 |
Yelp, Inc. * | 14,300 | 467,038 |
Zendesk, Inc. * | 15,000 | 394,350 |
Zillow Group, Inc., Class A * | 8,797 | 290,565 |
Zillow Group, Inc., Class C * | 26,594 | 887,176 |
Zynga, Inc., Class A * | 212,600 | 597,406 |
611,323,330 | ||
Technology Hardware & Equipment 5.2% | ||
3D Systems Corp. *(c) | 18,800 | 260,756 |
ADTRAN, Inc. | 9,100 | 165,165 |
Agilysys, Inc. * | 8,460 | 81,639 |
Amphenol Corp., Class A | 60,800 | 4,008,544 |
Anixter International, Inc. * | 4,000 | 263,000 |
Apple, Inc. | 1,161,062 | 131,826,979 |
Arista Networks, Inc. * | 8,600 | 728,850 |
ARRIS International plc * | 43,075 | 1,196,623 |
Arrow Electronics, Inc. * | 18,532 | 1,132,676 |
Avnet, Inc. | 26,588 | 1,115,367 |
AVX Corp. | 14,000 | 196,280 |
Badger Meter, Inc. | 8,000 | 257,200 |
Belden, Inc. | 6,900 | 447,189 |
Benchmark Electronics, Inc. * | 7,830 | 196,925 |
Black Box Corp. | 4,100 | 47,150 |
Brocade Communications Systems, Inc. | 121,135 | 1,284,031 |
CalAmp Corp. * | 4,000 | 51,680 |
CDW Corp. | 31,400 | 1,410,174 |
Ciena Corp. * | 34,970 | 677,719 |
Cisco Systems, Inc. | 1,078,740 | 33,095,743 |
Cognex Corp. | 25,100 | 1,295,160 |
Coherent, Inc. * | 4,100 | 426,892 |
CommScope Holding Co., Inc. * | 27,582 | 842,630 |
Comtech Telecommunications Corp. | 4,175 | 43,420 |
Corning, Inc. | 239,007 | 5,427,849 |
Cray, Inc. * | 7,600 | 158,080 |
CTS Corp. | 8,800 | 160,160 |
Daktronics, Inc. | 8,700 | 72,645 |
Diebold, Inc. | 12,900 | 281,220 |
Security | Number of Shares | Value ($) |
Digi International, Inc. * | 9,100 | 83,265 |
Dolby Laboratories, Inc., Class A | 8,800 | 418,792 |
DTS, Inc. | 4,300 | 182,105 |
EchoStar Corp., Class A * | 11,940 | 558,076 |
Electro Scientific Industries, Inc. * | 9,900 | 51,282 |
Electronics For Imaging, Inc. * | 15,500 | 659,215 |
Extreme Networks, Inc. * | 27,500 | 115,775 |
F5 Networks, Inc. * | 13,100 | 1,810,551 |
Fabrinet * | 11,108 | 421,660 |
FARO Technologies, Inc. * | 3,000 | 100,650 |
Finisar Corp. * | 25,800 | 706,404 |
Fitbit, Inc., Class A *(c) | 39,300 | 521,118 |
FLIR Systems, Inc. | 26,100 | 859,212 |
Frequency Electronics, Inc. * | 500 | 4,545 |
Harmonic, Inc. * | 20,042 | 102,214 |
Harris Corp. | 26,055 | 2,324,367 |
Hewlett Packard Enterprise Co. | 360,636 | 8,103,491 |
HP, Inc. | 387,136 | 5,609,601 |
I.D. Systems, Inc. * | 5,500 | 27,610 |
II-VI, Inc. * | 13,000 | 361,400 |
Immersion Corp. * | 4,300 | 35,088 |
Infinera Corp. * | 27,300 | 212,940 |
Ingram Micro, Inc., Class A | 32,500 | 1,209,000 |
Insight Enterprises, Inc. * | 8,950 | 257,670 |
InterDigital, Inc. | 6,700 | 473,355 |
InvenSense, Inc. * | 42,200 | 322,830 |
IPG Photonics Corp. * | 7,400 | 717,874 |
Itron, Inc. * | 5,700 | 307,230 |
Ixia * | 14,900 | 178,055 |
Jabil Circuit, Inc. | 35,300 | 753,302 |
Juniper Networks, Inc. | 75,965 | 2,000,918 |
Keysight Technologies, Inc. * | 44,058 | 1,445,102 |
Kimball Electronics, Inc. * | 6,825 | 94,868 |
Knowles Corp. * | 13,900 | 207,666 |
Lexmark International, Inc., Class A | 10,900 | 432,621 |
Littelfuse, Inc. | 3,700 | 516,150 |
Lumentum Holdings, Inc. * | 7,510 | 252,336 |
Maxwell Technologies, Inc. * | 7,700 | 37,268 |
Methode Electronics, Inc. | 9,500 | 296,400 |
MOCON, Inc. | 600 | 9,270 |
Motorola Solutions, Inc. | 34,733 | 2,520,921 |
MTS Systems Corp. | 3,781 | 179,787 |
National Instruments Corp. | 26,112 | 733,486 |
NCR Corp. * | 35,100 | 1,230,255 |
NetApp, Inc. | 64,900 | 2,202,706 |
NETGEAR, Inc. * | 6,000 | 303,000 |
NetScout Systems, Inc. * | 26,000 | 713,700 |
Nimble Storage, Inc. * | 16,100 | 122,843 |
Oclaro, Inc. * | 37,600 | 274,856 |
OSI Systems, Inc. * | 3,700 | 259,481 |
Palo Alto Networks, Inc. * | 19,400 | 2,984,302 |
Park Electrochemical Corp. | 3,600 | 55,548 |
PC Connection, Inc. | 7,000 | 162,470 |
PC-Tel, Inc. | 8,900 | 45,212 |
Plantronics, Inc. | 6,000 | 310,260 |
Plexus Corp. * | 6,500 | 297,765 |
Pure Storage, Inc., Class A * | 23,900 | 294,926 |
Quantum Corp. * | 125,000 | 100,025 |
Radisys Corp. * | 7,200 | 30,024 |
Research Frontiers, Inc. * | 2,800 | 6,132 |
Richardson Electronics Ltd. | 7,300 | 45,625 |
Rofin-Sinar Technologies, Inc. * | 11,300 | 367,815 |
Rogers Corp. * | 4,200 | 228,606 |
Sanmina Corp. * | 20,900 | 577,885 |
ScanSource, Inc. * | 6,300 | 220,500 |
Seagate Technology plc | 61,966 | 2,126,053 |
Sonus Networks, Inc. * | 15,860 | 91,829 |
Super Micro Computer, Inc. * | 8,200 | 194,340 |
Security | Number of Shares | Value ($) |
SYNNEX Corp. | 8,400 | 861,336 |
Systemax, Inc. | 8,000 | 62,800 |
TE Connectivity Ltd. | 78,300 | 4,922,721 |
Tech Data Corp. * | 8,300 | 639,266 |
TESSCO Technologies, Inc. | 4,025 | 46,891 |
TransAct Technologies, Inc. | 1,500 | 10,800 |
Trimble, Inc. * | 62,084 | 1,716,002 |
TTM Technologies, Inc. * | 11,000 | 144,650 |
Ubiquiti Networks, Inc. * | 3,200 | 167,776 |
Uni-Pixel, Inc. *(c) | 161,500 | 219,640 |
Universal Display Corp. * | 10,100 | 522,170 |
VeriFone Systems, Inc. * | 33,100 | 512,388 |
ViaSat, Inc. * | 10,700 | 756,062 |
Viavi Solutions, Inc. * | 37,553 | 267,377 |
Vishay Intertechnology, Inc. | 18,588 | 262,091 |
Vishay Precision Group, Inc. * | 5,620 | 88,234 |
Western Digital Corp. | 57,298 | 3,348,495 |
Zebra Technologies Corp., Class A * | 9,575 | 630,418 |
251,792,491 | ||
Telecommunication Services 2.3% | ||
AT&T, Inc. | 1,324,607 | 48,732,292 |
ATN International, Inc. | 3,250 | 219,830 |
CenturyLink, Inc. | 112,978 | 3,002,955 |
Cincinnati Bell, Inc. * | 12,293 | 241,557 |
Cogent Communications Holdings, Inc. | 9,900 | 365,310 |
Consolidated Communications Holdings, Inc. | 16,757 | 400,995 |
Frontier Communications Corp. | 257,368 | 1,034,619 |
General Communication, Inc., Class A * | 10,500 | 166,320 |
Globalstar, Inc. *(c) | 42,400 | 39,245 |
Inteliquent, Inc. | 14,800 | 248,492 |
Iridium Communications, Inc. * | 55,900 | 455,585 |
Level 3 Communications, Inc. * | 62,725 | 3,522,009 |
Lumos Networks Corp. * | 1,500 | 21,315 |
SBA Communications Corp., Class A * | 26,400 | 2,990,592 |
Shenandoah Telecommunications Co. | 14,200 | 374,880 |
Spok Holdings, Inc. | 5,500 | 99,275 |
Sprint Corp. * | 179,505 | 1,105,751 |
T-Mobile US, Inc. * | 57,450 | 2,856,989 |
Telephone & Data Systems, Inc. | 22,222 | 574,217 |
United States Cellular Corp. * | 5,400 | 189,270 |
Verizon Communications, Inc. | 880,569 | 42,355,369 |
Vonage Holdings Corp. * | 36,400 | 249,704 |
Windstream Holdings, Inc. (c) | 18,211 | 142,956 |
Zayo Group Holdings, Inc. * | 12,000 | 386,160 |
109,775,687 | ||
Transportation 2.0% | ||
Alaska Air Group, Inc. | 25,000 | 1,805,500 |
Allegiant Travel Co. | 3,200 | 441,280 |
AMERCO | 1,000 | 322,390 |
American Airlines Group, Inc. | 114,597 | 4,652,638 |
ArcBest Corp. | 4,800 | 95,520 |
Atlas Air Worldwide Holdings, Inc. * | 6,500 | 272,025 |
Avis Budget Group, Inc. * | 20,600 | 666,616 |
C.H. Robinson Worldwide, Inc. | 29,100 | 1,982,292 |
Celadon Group, Inc. | 8,890 | 57,785 |
Covenant Transport Group, Inc., Class A * | 3,000 | 47,970 |
CSX Corp. | 208,700 | 6,367,437 |
Delta Air Lines, Inc. | 161,811 | 6,758,845 |
Expeditors International of Washington, Inc. | 40,900 | 2,105,123 |
FedEx Corp. | 54,263 | 9,459,126 |
Forward Air Corp. | 4,600 | 190,072 |
Genesee & Wyoming, Inc., Class A * | 14,800 | 1,005,512 |
Security | Number of Shares | Value ($) |
Hawaiian Holdings, Inc. * | 10,700 | 481,767 |
Heartland Express, Inc. | 16,241 | 298,834 |
Hertz Global Holdings, Inc. * | 17,460 | 578,799 |
Hub Group, Inc., Class A * | 7,100 | 258,795 |
JB Hunt Transport Services, Inc. | 19,600 | 1,599,556 |
JetBlue Airways Corp. * | 60,662 | 1,060,372 |
Kansas City Southern | 23,255 | 2,040,859 |
Kirby Corp. * | 11,100 | 654,345 |
Knight Transportation, Inc. | 14,650 | 428,513 |
Landstar System, Inc. | 6,600 | 469,590 |
Macquarie Infrastructure Corp. | 18,600 | 1,521,666 |
Marten Transport Ltd. | 9,476 | 194,258 |
Matson, Inc. | 10,500 | 419,370 |
Norfolk Southern Corp. | 62,900 | 5,849,700 |
Old Dominion Freight Line, Inc. * | 12,412 | 926,928 |
Park-Ohio Holdings Corp. | 3,600 | 115,020 |
Roadrunner Transportation Systems, Inc. * | 4,900 | 37,240 |
Ryder System, Inc. | 9,500 | 659,205 |
Saia, Inc. * | 4,450 | 158,643 |
SkyWest, Inc. | 7,000 | 211,050 |
Southwest Airlines Co. | 135,815 | 5,439,391 |
Spirit Airlines, Inc. * | 14,000 | 671,020 |
Swift Transportation Co. * | 19,000 | 425,220 |
Union Pacific Corp. | 177,170 | 15,622,851 |
United Continental Holdings, Inc. * | 70,000 | 3,936,100 |
United Parcel Service, Inc., Class B | 149,941 | 16,157,642 |
Universal Logistics Holdings, Inc. | 3,300 | 41,085 |
Virgin America, Inc. * | 4,400 | 239,140 |
Werner Enterprises, Inc. | 10,032 | 241,270 |
XPO Logistics, Inc. * | 15,910 | 523,916 |
YRC Worldwide, Inc. * | 8,600 | 76,368 |
97,568,644 | ||
Utilities 3.3% | ||
AES Corp. | 138,596 | 1,631,275 |
ALLETE, Inc. | 14,633 | 896,857 |
Alliant Energy Corp. | 52,600 | 2,001,430 |
Ameren Corp. | 48,176 | 2,406,391 |
American Electric Power Co., Inc. | 99,920 | 6,478,813 |
American States Water Co. | 9,600 | 383,808 |
American Water Works Co., Inc. | 37,200 | 2,754,288 |
Aqua America, Inc. | 37,467 | 1,150,237 |
Artesian Resources Corp., Class A | 4,000 | 112,880 |
Atmos Energy Corp. | 17,400 | 1,294,386 |
Avangrid, Inc. | 16,400 | 646,324 |
Avista Corp. | 15,800 | 654,120 |
Black Hills Corp. | 13,400 | 828,790 |
Cadiz, Inc. * | 6,356 | 47,034 |
California Water Service Group | 11,300 | 350,300 |
Calpine Corp. * | 65,100 | 774,690 |
CenterPoint Energy, Inc. | 88,700 | 2,022,360 |
Chesapeake Utilities Corp. | 2,770 | 177,419 |
CMS Energy Corp. | 56,959 | 2,400,822 |
Connecticut Water Service, Inc. | 5,100 | 265,557 |
Consolidated Edison, Inc. | 67,810 | 5,123,045 |
Delta Natural Gas Co., Inc. | 1,291 | 30,403 |
Dominion Resources, Inc. | 137,054 | 10,306,461 |
DTE Energy Co. | 36,748 | 3,528,175 |
Duke Energy Corp. | 149,250 | 11,942,985 |
Dynegy, Inc. * | 27,300 | 290,745 |
Edison International | 66,910 | 4,916,547 |
El Paso Electric Co. | 11,300 | 522,060 |
Entergy Corp. | 34,293 | 2,526,708 |
Eversource Energy | 68,336 | 3,762,580 |
Exelon Corp. | 196,869 | 6,707,327 |
FirstEnergy Corp. | 90,356 | 3,098,307 |
Genie Energy Ltd., Class B * | 12,800 | 66,688 |
Security | Number of Shares | Value ($) |
Great Plains Energy, Inc. | 41,341 | 1,175,738 |
Hawaiian Electric Industries, Inc. | 27,100 | 799,450 |
IDACORP, Inc. | 9,800 | 768,222 |
MDU Resources Group, Inc. | 36,025 | 944,215 |
MGE Energy, Inc. | 9,950 | 581,578 |
Middlesex Water Co. | 9,400 | 339,340 |
National Fuel Gas Co. | 20,700 | 1,084,266 |
New Jersey Resources Corp. | 20,150 | 684,093 |
NextEra Energy, Inc. | 103,972 | 13,308,416 |
NiSource, Inc. | 65,764 | 1,529,671 |
Northwest Natural Gas Co. | 6,300 | 370,440 |
NorthWestern Corp. | 10,900 | 627,295 |
NRG Energy, Inc. | 63,356 | 673,474 |
NRG Yield, Inc., Class A | 8,300 | 122,259 |
NRG Yield, Inc., Class C | 8,300 | 127,820 |
OGE Energy Corp. | 41,200 | 1,278,848 |
ONE Gas, Inc. | 8,525 | 522,412 |
Ormat Technologies, Inc. | 8,600 | 414,778 |
Otter Tail Corp. | 7,800 | 280,410 |
Pattern Energy Group, Inc. | 34,400 | 768,840 |
PG&E Corp. | 102,800 | 6,385,936 |
Pinnacle West Capital Corp. | 24,200 | 1,842,346 |
PNM Resources, Inc. | 21,200 | 696,420 |
Portland General Electric Co. | 24,800 | 1,082,272 |
PPL Corp. | 140,600 | 4,828,204 |
Public Service Enterprise Group, Inc. | 102,900 | 4,330,032 |
Pure Cycle Corp. * | 8,000 | 42,000 |
SCANA Corp. | 31,005 | 2,274,527 |
Sempra Energy | 53,496 | 5,729,422 |
SJW Corp. | 4,470 | 226,763 |
South Jersey Industries, Inc. | 19,400 | 575,210 |
Southwest Gas Corp. | 13,400 | 970,964 |
Spire, Inc. | 15,200 | 954,560 |
Talen Energy Corp. * | 15,700 | 218,701 |
TerraForm Power, Inc., Class A * | 9,400 | 116,654 |
The Empire District Electric Co. | 11,200 | 383,376 |
The Southern Co. | 212,273 | 10,946,919 |
The York Water Co. | 6,100 | 192,760 |
UGI Corp. | 36,400 | 1,684,956 |
Unitil Corp. | 7,200 | 292,104 |
Vectren Corp. | 15,266 | 768,032 |
WEC Energy Group, Inc. | 69,277 | 4,137,222 |
Westar Energy, Inc. | 28,600 | 1,639,352 |
WGL Holdings, Inc. | 7,300 | 460,411 |
Xcel Energy, Inc. | 103,108 | 4,284,137 |
161,564,657 | ||
Total Common Stock | ||
(Cost $3,091,955,361) | 4,822,321,992 | |
Rights 0.0% of net assets | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Dyax Corp. CVR *(b)(f) | 31,000 | 34,410 |
FRD Acquisition Co. CVR *(b)(f) | 8,700 | — |
34,410 | ||
Technology Hardware & Equipment 0.0% | ||
Gerber Scientific, Inc. CVR *(b)(f) | 8,900 | — |
Telecommunication Services 0.0% | ||
Leap Wireless CVR *(b)(f) | 13,000 | 39,000 |
Total Rights | ||
(Cost $67,393) | 73,410 | |
Security | Number of Shares | Value ($) |
Other Investment Company 0.4% of net assets | ||
Securities Lending Collateral 0.4% | ||
Wells Fargo Government Money Market Fund, Select Class 0.32% (d) | 19,726,894 | 19,726,894 |
Total Other Investment Company | ||
(Cost $19,726,894) | 19,726,894 | |
Security Rate, Maturity Date | Face Amount ($) | Value ($) |
Short-Term Investment 0.5% of net assets | ||
Time Deposit 0.5% | ||
Sumitomo Mitsui Banking Corp. | ||
0.15%, 11/01/16 (e) | 21,277,491 | 21,277,491 |
Total Short-Term Investment | ||
(Cost $21,277,491) | 21,277,491 |
* | Non-income producing security. |
(a) | Issuer is affiliated with the fund's investment adviser. |
(b) | Illiquid security. At the period end, the value of these amounted to $73,410 or 0.0% of net assets. |
(c) | All or a portion of this security is on loan. Securities on loan were valued at $19,150,544. |
(d) | The rate shown is the 7-day yield. |
(e) | The rate shown is the current daily overnight rate. |
(f) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
CVR — | Contingent Value Rights |
REIT — | Real Estate Investment Trust |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
Russell 2000 Index, mini, Long, expires 12/16/16 | 35 | 4,162,550 | (144,920) | |||
S&P 500 Index, e-mini, Long, expires 12/16/16 | 205 | 21,731,025 | (247,030) | |||
Net Unrealized Depreciation | (391,950) |
Holdings by Category | Cost ($) | Value ($) | |
97.9% | Common Stock | 2,555,902,633 | 2,840,451,179 |
0.6% | Preferred Stock | 17,481,434 | 17,308,068 |
0.0% | Rights | 52,470 | 72,606 |
0.2% | Other Investment Company | 3,953,494 | 3,953,494 |
0.9% | Short-Term Investments | 26,753,989 | 26,753,989 |
99.6% | Total Investments | 2,604,144,020 | 2,888,539,336 |
0.4% | Other Assets and Liabilities, Net | 11,909,792 | |
100.0% | Net Assets | 2,900,449,128 |
Security | Number of Shares | Value ($) |
Common Stock 97.9% of net assets | ||
Australia 7.2% | ||
Banks 2.4% | ||
Australia & New Zealand Banking Group Ltd. | 692,660 | 14,625,799 |
Bank of Queensland Ltd. | 89,063 | 706,723 |
Bendigo & Adelaide Bank Ltd. | 101,431 | 856,571 |
Commonwealth Bank of Australia | 407,122 | 22,664,841 |
National Australia Bank Ltd. | 624,277 | 13,251,797 |
Westpac Banking Corp. | 792,152 | 18,318,463 |
70,424,194 | ||
Capital Goods 0.0% | ||
CIMIC Group Ltd. | 26,359 | 591,523 |
Commercial & Professional Supplies 0.1% | ||
Brambles Ltd. | 375,416 | 3,286,880 |
SEEK Ltd. | 74,156 | 823,599 |
4,110,479 | ||
Consumer Services 0.2% | ||
Aristocrat Leisure Ltd. | 128,377 | 1,494,673 |
Crown Resorts Ltd. | 86,330 | 713,709 |
Domino's Pizza Enterprises Ltd. | 14,586 | 710,570 |
Flight Centre Travel Group Ltd. | 11,202 | 287,817 |
Tabcorp Holdings Ltd. | 197,467 | 725,491 |
Tatts Group Ltd. | 359,783 | 1,109,051 |
5,041,311 | ||
Diversified Financials 0.3% | ||
AMP Ltd. | 709,105 | 2,458,973 |
ASX Ltd. | 47,112 | 1,685,249 |
Challenger Ltd. | 134,444 | 1,097,535 |
Macquarie Group Ltd. | 71,824 | 4,341,716 |
Platinum Asset Management Ltd. | 46,261 | 175,201 |
9,758,674 | ||
Energy 0.3% | ||
Caltex Australia Ltd. | 64,807 | 1,508,528 |
Oil Search Ltd. | 320,180 | 1,604,939 |
Origin Energy Ltd. | 420,422 | 1,694,543 |
Santos Ltd. | 395,441 | 1,058,101 |
Woodside Petroleum Ltd. | 176,879 | 3,786,270 |
9,652,381 |
Security | Number of Shares | Value ($) |
Food & Staples Retailing 0.5% | ||
Wesfarmers Ltd. | 268,339 | 8,355,789 |
Woolworths Ltd. | 303,034 | 5,438,310 |
13,794,099 | ||
Food, Beverage & Tobacco 0.1% | ||
Coca-Cola Amatil Ltd. | 129,657 | 939,337 |
Treasury Wine Estates Ltd. | 179,536 | 1,463,643 |
2,402,980 | ||
Health Care Equipment & Services 0.2% | ||
Cochlear Ltd. | 13,562 | 1,317,702 |
Healthscope Ltd. | 411,020 | 689,478 |
Ramsay Health Care Ltd. | 33,875 | 1,886,326 |
Sonic Healthcare Ltd. | 96,015 | 1,493,267 |
5,386,773 | ||
Insurance 0.3% | ||
Insurance Australia Group Ltd. | 551,393 | 2,305,267 |
Medibank Pvt Ltd. | 634,378 | 1,242,822 |
QBE Insurance Group Ltd. | 323,456 | 2,450,660 |
Suncorp Group Ltd. | 309,827 | 2,812,021 |
8,810,770 | ||
Materials 1.1% | ||
Alumina Ltd. | 535,546 | 643,660 |
Amcor Ltd. | 275,282 | 3,072,603 |
BHP Billiton Ltd. | 759,420 | 13,267,697 |
Boral Ltd. | 164,859 | 787,660 |
Fortescue Metals Group Ltd. | 384,488 | 1,613,553 |
Incitec Pivot Ltd. | 387,731 | 867,187 |
James Hardie Industries plc CDI | 108,813 | 1,619,547 |
Newcrest Mining Ltd. | 185,787 | 3,253,026 |
Orica Ltd. | 85,202 | 1,052,618 |
Rio Tinto Ltd. | 102,987 | 4,261,032 |
South32 Ltd. | 1,284,917 | 2,507,541 |
32,946,124 | ||
Media 0.0% | ||
REA Group Ltd. | 11,698 | 453,676 |
Pharmaceuticals, Biotechnology & Life Sciences 0.3% | ||
CSL Ltd. | 110,063 | 8,398,419 |
Real Estate 0.7% | ||
Dexus Property Group | 239,107 | 1,624,286 |
Goodman Group | 414,865 | 2,138,428 |
LendLease Group | 136,065 | 1,393,837 |
Mirvac Group | 854,706 | 1,355,850 |
Scentre Group | 1,238,927 | 3,965,229 |
Stockland | 562,198 | 1,888,108 |
The GPT Group | 438,599 | 1,550,612 |
Vicinity Centres | 803,376 | 1,751,971 |
Westfield Corp. | 460,920 | 3,114,838 |
18,783,159 | ||
Retailing 0.0% | ||
Harvey Norman Holdings Ltd. | 132,814 | 508,619 |
Software & Services 0.0% | ||
Computershare Ltd. | 115,712 | 926,888 |
Security | Number of Shares | Value ($) |
Telecommunication Services 0.2% | ||
Telstra Corp., Ltd. | 1,014,881 | 3,838,222 |
TPG Telecom Ltd. | 90,804 | 520,676 |
Vocus Communications Ltd. | 111,235 | 482,266 |
4,841,164 | ||
Transportation 0.3% | ||
Aurizon Holdings Ltd. | 498,416 | 1,846,589 |
Qantas Airways Ltd. | 144,571 | 335,958 |
Sydney Airport | 251,805 | 1,197,028 |
Transurban Group | 481,722 | 3,801,037 |
7,180,612 | ||
Utilities 0.2% | ||
AGL Energy Ltd. | 158,055 | 2,302,469 |
APA Group | 263,879 | 1,594,789 |
AusNet Services | 407,266 | 463,900 |
DUET Group | 544,007 | 984,885 |
5,346,043 | ||
209,357,888 | ||
Austria 0.2% | ||
Banks 0.1% | ||
Erste Group Bank AG * | 72,284 | 2,266,740 |
Raiffeisen Bank International AG * | 31,357 | 513,542 |
2,780,282 | ||
Capital Goods 0.0% | ||
ANDRITZ AG | 16,537 | 864,643 |
Energy 0.1% | ||
OMV AG | 34,514 | 1,077,169 |
Materials 0.0% | ||
voestalpine AG | 25,103 | 889,300 |
5,611,394 | ||
Belgium 1.3% | ||
Banks 0.1% | ||
KBC Group N.V. | 59,647 | 3,636,143 |
Diversified Financials 0.1% | ||
Groupe Bruxelles Lambert S.A. | 18,712 | 1,608,613 |
Food & Staples Retailing 0.0% | ||
Colruyt S.A. | 17,161 | 922,369 |
Food, Beverage & Tobacco 0.8% | ||
Anheuser-Busch InBev S.A./N.V. | 189,850 | 21,789,045 |
Insurance 0.1% | ||
Ageas | 48,027 | 1,754,590 |
Materials 0.1% | ||
Solvay S.A. | 17,808 | 2,042,817 |
Umicore S.A. | 22,105 | 1,343,588 |
3,386,405 | ||
Media 0.0% | ||
Telenet Group Holding N.V. * | 12,101 | 647,905 |
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
UCB S.A. | 30,363 | 2,054,712 |
Telecommunication Services 0.0% | ||
Proximus | 34,481 | 986,932 |
36,786,714 | ||
Denmark 1.7% | ||
Banks 0.2% | ||
Danske Bank A/S | 165,052 | 5,091,692 |
Capital Goods 0.2% | ||
Vestas Wind Systems A/S | 52,597 | 4,213,853 |
Security | Number of Shares | Value ($) |
Commercial & Professional Supplies 0.1% | ||
ISS A/S | 37,101 | 1,456,425 |
Consumer Durables & Apparel 0.1% | ||
Pandora A/S | 27,457 | 3,570,934 |
Food, Beverage & Tobacco 0.1% | ||
Carlsberg A/S, Class B | 25,270 | 2,276,683 |
Health Care Equipment & Services 0.1% | ||
Coloplast A/S, Class B | 26,765 | 1,864,522 |
William Demant Holding A/S * | 32,260 | 600,263 |
2,464,785 | ||
Insurance 0.0% | ||
Tryg A/S | 28,614 | 558,000 |
Materials 0.1% | ||
Chr. Hansen Holding A/S | 23,411 | 1,402,035 |
Novozymes A/S, B Shares | 55,255 | 2,049,783 |
3,451,818 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.6% | ||
Genmab A/S * | 12,842 | 2,114,745 |
Novo Nordisk A/S, Class B | 451,381 | 16,080,665 |
18,195,410 | ||
Telecommunication Services 0.0% | ||
TDC A/S * | 207,416 | 1,143,588 |
Transportation 0.2% | ||
AP Moeller - Maersk A/S, Series A | 924 | 1,350,576 |
AP Moeller - Maersk A/S, Series B | 1,492 | 2,288,550 |
DSV A/S | 45,591 | 2,207,509 |
5,846,635 | ||
48,269,823 | ||
Finland 0.9% | ||
Automobiles & Components 0.0% | ||
Nokian Renkaat Oyj | 26,034 | 873,222 |
Capital Goods 0.2% | ||
Kone Oyj, Class B | 79,861 | 3,674,539 |
Metso Oyj | 25,010 | 655,756 |
Wartsila Oyj Abp | 36,379 | 1,572,093 |
5,902,388 | ||
Energy 0.1% | ||
Neste Oyj | 30,786 | 1,328,172 |
Insurance 0.2% | ||
Sampo Oyj, A Shares | 107,335 | 4,917,446 |
Materials 0.1% | ||
Stora Enso Oyj, R Shares | 127,451 | 1,204,428 |
UPM-Kymmene Oyj | 129,195 | 3,005,271 |
4,209,699 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Orion Oyj, Class B | 23,550 | 1,002,380 |
Technology Hardware & Equipment 0.2% | ||
Nokia Oyj | 1,374,405 | 6,136,111 |
Telecommunication Services 0.0% | ||
Elisa Oyj | 33,232 | 1,119,626 |
Utilities 0.1% | ||
Fortum Oyj | 102,012 | 1,700,428 |
27,189,472 | ||
France 9.7% | ||
Automobiles & Components 0.5% | ||
Compagnie Generale des Etablissements Michelin | 43,436 | 4,704,467 |
Peugeot S.A. * | 110,690 | 1,657,584 |
Security | Number of Shares | Value ($) |
Renault S.A. | 45,011 | 3,914,239 |
Valeo S.A. | 57,219 | 3,301,814 |
13,578,104 | ||
Banks 0.9% | ||
BNP Paribas S.A. | 251,545 | 14,585,398 |
Credit Agricole S.A. | 245,639 | 2,650,197 |
Natixis S.A. | 235,018 | 1,189,080 |
Societe Generale S.A. | 181,809 | 7,091,915 |
25,516,590 | ||
Capital Goods 1.7% | ||
Airbus Group SE | 138,392 | 8,217,699 |
Alstom S.A. * | 37,761 | 1,014,701 |
Bouygues S.A. | 48,125 | 1,568,754 |
Compagnie de Saint-Gobain | 118,653 | 5,268,569 |
Eiffage S.A. | 13,759 | 1,018,642 |
Legrand S.A. | 63,523 | 3,588,848 |
Rexel S.A. | 67,856 | 941,111 |
Safran S.A. | 74,428 | 5,121,492 |
Schneider Electric SE | 132,607 | 8,917,831 |
Thales S.A. | 24,970 | 2,349,301 |
Vinci S.A. | 119,163 | 8,629,724 |
Zodiac Aerospace | 47,203 | 1,147,137 |
47,783,809 | ||
Commercial & Professional Supplies 0.1% | ||
Bureau Veritas S.A. | 59,564 | 1,124,993 |
Edenred | 49,244 | 1,139,682 |
Societe BIC S.A. | 6,847 | 949,078 |
3,213,753 | ||
Consumer Durables & Apparel 0.7% | ||
Christian Dior SE | 12,965 | 2,500,507 |
Hermes International | 6,364 | 2,578,091 |
Kering | 17,794 | 3,947,940 |
LVMH Moet Hennessy Louis Vuitton SE | 66,116 | 12,037,154 |
21,063,692 | ||
Consumer Services 0.1% | ||
Accor S.A. | 41,811 | 1,586,575 |
Sodexo S.A. | 22,043 | 2,559,652 |
4,146,227 | ||
Diversified Financials 0.0% | ||
Eurazeo S.A. | 9,507 | 547,451 |
Wendel S.A. | 6,304 | 725,248 |
1,272,699 | ||
Energy 0.9% | ||
Technip S.A. | 28,327 | 1,880,060 |
TOTAL S.A. | 527,199 | 25,255,416 |
27,135,476 | ||
Food & Staples Retailing 0.1% | ||
Carrefour S.A. | 130,580 | 3,422,364 |
Casino Guichard Perrachon S.A. | 13,859 | 689,915 |
4,112,279 | ||
Food, Beverage & Tobacco 0.6% | ||
Danone S.A. | 139,425 | 9,670,286 |
Pernod-Ricard S.A. | 50,581 | 6,015,258 |
Remy Cointreau S.A. | 5,148 | 417,416 |
16,102,960 | ||
Health Care Equipment & Services 0.2% | ||
Essilor International S.A. | 49,169 | 5,525,289 |
Household & Personal Products 0.4% | ||
L'Oreal S.A. | 59,604 | 10,678,600 |
Security | Number of Shares | Value ($) |
Insurance 0.4% | ||
AXA S.A. | 461,574 | 10,414,180 |
CNP Assurances | 42,813 | 741,445 |
SCOR SE | 39,088 | 1,265,810 |
12,421,435 | ||
Materials 0.5% | ||
Air Liquide S.A. | 91,780 | 9,326,007 |
ArcelorMittal * | 440,423 | 2,975,920 |
Arkema S.A. | 16,784 | 1,591,498 |
Imerys S.A. | 8,347 | 581,155 |
14,474,580 | ||
Media 0.4% | ||
Eutelsat Communications S.A. | 42,441 | 889,344 |
JC Decaux S.A. | 19,220 | 587,787 |
Lagardere S.C.A. | 27,000 | 687,600 |
Publicis Groupe S.A. | 44,647 | 3,062,772 |
SES S.A. | 84,543 | 1,945,005 |
Vivendi S.A. | 278,223 | 5,631,383 |
12,803,891 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.7% | ||
Sanofi | 275,305 | 21,423,897 |
Real Estate 0.4% | ||
Fonciere Des Regions | 8,593 | 750,990 |
Gecina S.A. | 9,373 | 1,366,595 |
ICADE | 7,471 | 536,514 |
Klepierre | 53,561 | 2,188,919 |
Unibail-Rodamco SE | 23,847 | 5,660,442 |
10,503,460 | ||
Semiconductors & Semiconductor Equipment 0.1% | ||
STMicroelectronics N.V. | 149,777 | 1,421,535 |
Software & Services 0.3% | ||
Atos SE | 20,754 | 2,153,717 |
Capgemini S.A. | 38,877 | 3,219,670 |
Dassault Systemes S.A. | 29,188 | 2,310,306 |
7,683,693 | ||
Technology Hardware & Equipment 0.0% | ||
Ingenico Group S.A. | 13,215 | 1,045,278 |
Telecommunication Services 0.3% | ||
Iliad S.A. | 6,150 | 1,289,256 |
Orange S.A. | 469,974 | 7,394,409 |
SFR Group S.A. | 25,897 | 697,960 |
9,381,625 | ||
Transportation 0.1% | ||
Aeroports de Paris | 6,658 | 672,505 |
Bollore S.A. | 250,141 | 823,527 |
Groupe Eurotunnel SE - Reg'd | 113,376 | 1,061,125 |
2,557,157 | ||
Utilities 0.3% | ||
Electricite de France S.A. (a) | 54,100 | 606,473 |
Engie S.A. | 347,273 | 5,008,273 |
Suez | 73,480 | 1,163,897 |
Veolia Environnement S.A. | 109,452 | 2,391,240 |
9,169,883 | ||
283,015,912 | ||
Germany 8.5% | ||
Automobiles & Components 1.0% | ||
Bayerische Motoren Werke AG | 79,555 | 6,940,812 |
Continental AG | 26,171 | 5,027,213 |
Daimler AG - Reg'd | 228,385 | 16,293,436 |
Volkswagen AG | 6,990 | 1,044,897 |
29,306,358 |
Security | Number of Shares | Value ($) |
Banks 0.1% | ||
Commerzbank AG | 259,072 | 1,764,337 |
Capital Goods 0.9% | ||
Brenntag AG | 35,451 | 1,895,217 |
GEA Group AG | 42,447 | 1,644,051 |
HOCHTIEF AG | 4,861 | 663,755 |
MAN SE | 8,932 | 914,243 |
OSRAM Licht AG | 22,359 | 1,269,919 |
Siemens AG - Reg'd | 180,435 | 20,500,545 |
26,887,730 | ||
Consumer Durables & Apparel 0.3% | ||
adidas AG | 44,645 | 7,334,906 |
Hugo Boss AG | 15,109 | 950,059 |
8,284,965 | ||
Diversified Financials 0.3% | ||
Deutsche Bank AG - Reg'd * | 327,925 | 4,742,329 |
Deutsche Boerse AG * | 45,917 | 3,585,586 |
8,327,915 | ||
Food & Staples Retailing 0.0% | ||
METRO AG | 43,780 | 1,311,396 |
Health Care Equipment & Services 0.4% | ||
Fresenius Medical Care AG & Co. KGaA | 51,100 | 4,162,305 |
Fresenius SE & Co. KGaA | 96,831 | 7,154,572 |
11,316,877 | ||
Household & Personal Products 0.2% | ||
Beiersdorf AG | 24,480 | 2,158,149 |
Henkel AG & Co. KGaA | 24,790 | 2,731,419 |
4,889,568 | ||
Insurance 0.9% | ||
Allianz SE - Reg'd | 108,608 | 16,954,168 |
Hannover Rueck SE | 13,699 | 1,528,278 |
Muenchener Rueckversicherungs-Gesellschaft AG - Reg'd | 39,319 | 7,634,157 |
26,116,603 | ||
Materials 1.3% | ||
BASF SE | 218,370 | 19,277,257 |
Covestro AG (d) | 16,858 | 998,286 |
Evonik Industries AG | 39,945 | 1,250,937 |
HeidelbergCement AG | 33,272 | 3,147,466 |
K&S AG - Reg'd | 43,159 | 873,959 |
LANXESS AG | 20,526 | 1,316,223 |
Linde AG | 43,600 | 7,201,263 |
Symrise AG | 29,749 | 2,043,023 |
ThyssenKrupp AG | 88,924 | 2,063,312 |
38,171,726 | ||
Media 0.1% | ||
Axel Springer SE | 9,347 | 468,275 |
ProSiebenSat.1 Media SE | 52,467 | 2,261,231 |
RTL Group S.A. * | 8,951 | 701,499 |
3,431,005 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.8% | ||
Bayer AG - Reg'd | 196,624 | 19,522,723 |
Merck KGaA | 31,180 | 3,209,358 |
QIAGEN N.V. * | 50,348 | 1,231,385 |
23,963,466 | ||
Real Estate 0.2% | ||
Deutsche Wohnen AG | 79,214 | 2,588,058 |
Vonovia SE | 110,458 | 3,894,184 |
6,482,242 |
Security | Number of Shares | Value ($) |
Retailing 0.0% | ||
Zalando SE *(d) | 20,862 | 917,400 |
Semiconductors & Semiconductor Equipment 0.2% | ||
Infineon Technologies AG | 268,027 | 4,820,542 |
Software & Services 0.8% | ||
SAP SE | 233,481 | 20,569,542 |
United Internet AG - Reg'd | 30,312 | 1,246,267 |
21,815,809 | ||
Telecommunication Services 0.5% | ||
Deutsche Telekom AG - Reg'd | 760,204 | 12,402,894 |
Telefonica Deutschland Holding AG | 186,815 | 724,527 |
13,127,421 | ||
Transportation 0.3% | ||
Deutsche Lufthansa AG - Reg'd | 53,108 | 679,735 |
Deutsche Post AG - Reg'd | 227,574 | 7,057,268 |
Fraport AG Frankfurt Airport Services Worldwide | 9,632 | 571,760 |
8,308,763 | ||
Utilities 0.2% | ||
E.ON SE | 481,636 | 3,529,840 |
Innogy SE *(d) | 33,000 | 1,310,467 |
RWE AG * | 119,048 | 1,893,957 |
6,734,264 | ||
245,978,387 | ||
Hong Kong 3.5% | ||
Banks 0.3% | ||
BOC Hong Kong (Holdings) Ltd. | 856,000 | 3,051,004 |
Hang Seng Bank Ltd. | 180,636 | 3,257,646 |
The Bank of East Asia Ltd. | 270,200 | 1,086,179 |
7,394,829 | ||
Capital Goods 0.4% | ||
CK Hutchison Holdings Ltd. | 635,525 | 7,847,483 |
Jardine Matheson Holdings Ltd. | 58,900 | 3,587,599 |
NWS Holdings Ltd. | 319,000 | 564,423 |
11,999,505 | ||
Consumer Durables & Apparel 0.1% | ||
Li & Fung Ltd. | 1,378,000 | 677,392 |
Techtronic Industries Co., Ltd. | 331,000 | 1,243,616 |
Yue Yuen Industrial Holdings Ltd. | 199,000 | 757,838 |
2,678,846 | ||
Consumer Services 0.2% | ||
Galaxy Entertainment Group Ltd. | 568,000 | 2,325,748 |
Melco Crown Entertainment Ltd. ADR | 45,490 | 761,503 |
MGM China Holdings Ltd. | 183,200 | 302,249 |
Sands China Ltd. | 592,400 | 2,570,871 |
Shangri-La Asia Ltd. | 258,000 | 283,360 |
SJM Holdings Ltd. | 398,000 | 274,706 |
Wynn Macau Ltd. | 425,200 | 651,411 |
7,169,848 | ||
Diversified Financials 0.3% | ||
First Pacific Co., Ltd. | 493,250 | 373,663 |
Hong Kong Exchanges & Clearing Ltd. | 274,318 | 7,252,003 |
7,625,666 | ||
Food, Beverage & Tobacco 0.0% | ||
WH Group Ltd. (d) | 1,335,500 | 1,081,616 |
Insurance 0.6% | ||
AIA Group Ltd. | 2,876,400 | 18,095,437 |
Security | Number of Shares | Value ($) |
Real Estate 1.0% | ||
Cheung Kong Property Holdings Ltd. | 632,025 | 4,672,344 |
Hang Lung Properties Ltd. | 536,000 | 1,178,724 |
Henderson Land Development Co., Ltd. | 266,681 | 1,577,479 |
Hongkong Land Holdings Ltd. | 286,700 | 1,919,826 |
Hysan Development Co., Ltd. | 156,000 | 720,000 |
Kerry Properties Ltd. | 166,500 | 527,206 |
Link REIT | 525,000 | 3,734,816 |
New World Development Co., Ltd. | 1,295,666 | 1,610,836 |
Sino Land Co., Ltd. | 700,000 | 1,188,557 |
Sun Hung Kai Properties Ltd. | 348,604 | 5,191,105 |
Swire Pacific Ltd., Class A | 127,590 | 1,326,152 |
Swire Properties Ltd. | 277,600 | 797,178 |
The Wharf Holdings Ltd. | 322,100 | 2,415,011 |
Wheelock & Co., Ltd. | 181,000 | 1,113,893 |
27,973,127 | ||
Semiconductors & Semiconductor Equipment 0.0% | ||
ASM Pacific Technology Ltd. | 56,800 | 547,244 |
Telecommunication Services 0.1% | ||
HKT Trust & HKT Ltd. | 650,000 | 893,424 |
PCCW Ltd. | 976,000 | 580,961 |
1,474,385 | ||
Transportation 0.1% | ||
Cathay Pacific Airways Ltd. | 259,000 | 340,905 |
MTR Corp., Ltd. | 341,000 | 1,887,120 |
2,228,025 | ||
Utilities 0.4% | ||
Cheung Kong Infrastructure Holdings Ltd. | 150,000 | 1,227,572 |
CLP Holdings Ltd. | 395,580 | 4,021,065 |
HK Electric Investments & HK Electric Investments Ltd. (d) | 644,000 | 637,807 |
Hong Kong & China Gas Co., Ltd. | 1,851,867 | 3,617,549 |
Power Assets Holdings Ltd. | 323,500 | 3,036,271 |
12,540,264 | ||
100,808,792 | ||
Ireland 0.4% | ||
Banks 0.0% | ||
Bank of Ireland * | 6,507,733 | 1,392,997 |
Consumer Services 0.1% | ||
Paddy Power Betfair plc | 18,281 | 1,894,380 |
Food, Beverage & Tobacco 0.1% | ||
Kerry Group plc, Class A | 36,847 | 2,675,284 |
Materials 0.2% | ||
CRH plc | 196,042 | 6,364,321 |
Transportation 0.0% | ||
Ryanair Holdings plc * | 43,580 | 603,992 |
12,930,974 | ||
Israel 0.7% | ||
Banks 0.1% | ||
Bank Hapoalim B.M. | 264,940 | 1,528,102 |
Bank Leumi Le-Israel B.M. * | 347,306 | 1,310,406 |
Mizrahi Tefahot Bank Ltd. | 30,973 | 403,364 |
3,241,872 | ||
Materials 0.0% | ||
Israel Chemicals Ltd. | 111,577 | 396,497 |
Security | Number of Shares | Value ($) |
Pharmaceuticals, Biotechnology & Life Sciences 0.3% | ||
Taro Pharmaceutical Industries Ltd. *(a) | 3,544 | 359,751 |
Teva Pharmaceutical Industries Ltd. | 216,869 | 9,057,696 |
9,417,447 | ||
Real Estate 0.0% | ||
Azrieli Group Ltd. | 8,005 | 340,788 |
Software & Services 0.2% | ||
Check Point Software Technologies Ltd. * | 31,217 | 2,639,710 |
Mobileye N.V. * | 41,706 | 1,550,629 |
Nice Ltd. | 13,354 | 886,412 |
5,076,751 | ||
Telecommunication Services 0.1% | ||
Bezeq The Israeli Telecommunication Corp., Ltd. | 476,268 | 865,096 |
19,338,451 | ||
Italy 1.9% | ||
Automobiles & Components 0.1% | ||
Ferrari N.V. | 30,129 | 1,586,290 |
Fiat Chrysler Automobiles N.V. | 213,501 | 1,565,160 |
3,151,450 | ||
Banks 0.4% | ||
Intesa Sanpaolo S.p.A. | 2,989,198 | 6,930,965 |
Mediobanca S.p.A. | 139,974 | 1,025,349 |
UniCredit S.p.A. | 1,267,707 | 3,145,954 |
Unione di Banche Italiane S.p.A. (a) | 204,609 | 564,517 |
11,666,785 | ||
Capital Goods 0.1% | ||
CNH Industrial N.V. | 245,645 | 1,907,099 |
Leonardo-Finmeccanica S.p.A. * | 92,749 | 1,129,353 |
Prysmian S.p.A. | 46,111 | 1,146,670 |
4,183,122 | ||
Consumer Durables & Apparel 0.1% | ||
Luxottica Group S.p.A. | 39,791 | 1,981,291 |
Diversified Financials 0.0% | ||
EXOR S.p.A. | 27,867 | 1,184,758 |
Energy 0.4% | ||
Eni S.p.A. | 605,659 | 8,789,479 |
Saipem S.p.A. * | 1,497,124 | 615,635 |
Tenaris S.A. | 107,788 | 1,524,526 |
10,929,640 | ||
Insurance 0.2% | ||
Assicurazioni Generali S.p.A. | 271,443 | 3,506,322 |
Poste Italiane S.p.A (d) | 124,707 | 830,138 |
UnipolSai S.p.A. | 249,290 | 476,396 |
4,812,856 | ||
Telecommunication Services 0.1% | ||
Telecom Italia S.p.A. * | 2,375,637 | 2,065,125 |
Transportation 0.1% | ||
Atlantia S.p.A. | 97,393 | 2,384,565 |
Utilities 0.4% | ||
Enel S.p.A. | 1,807,453 | 7,770,851 |
Snam S.p.A. | 579,857 | 3,055,161 |
Terna - Rete Elettrica Nationale S.p.A. | 363,475 | 1,779,181 |
12,605,193 | ||
54,964,785 | ||
Security | Number of Shares | Value ($) |
Japan 24.4% | ||
Automobiles & Components 3.2% | ||
Aisin Seiki Co., Ltd. | 45,600 | 2,003,097 |
Bridgestone Corp. | 154,957 | 5,783,560 |
Denso Corp. | 116,200 | 5,056,441 |
Fuji Heavy Industries Ltd. | 146,400 | 5,720,797 |
Honda Motor Co., Ltd. | 387,339 | 11,589,804 |
Isuzu Motors Ltd. | 145,300 | 1,797,238 |
Koito Manufacturing Co., Ltd. | 26,000 | 1,365,049 |
Mazda Motor Corp. | 129,500 | 2,147,598 |
Mitsubishi Motors Corp. | 146,600 | 813,832 |
NGK Spark Plug Co., Ltd. | 40,200 | 797,782 |
NHK Spring Co., Ltd. | 37,000 | 350,218 |
Nissan Motor Co., Ltd. | 589,996 | 6,001,724 |
NOK Corp. | 20,800 | 468,743 |
Stanley Electric Co., Ltd. | 33,100 | 911,394 |
Sumitomo Electric Industries Ltd. | 178,900 | 2,642,974 |
Sumitomo Rubber Industries Ltd. | 40,700 | 682,794 |
Suzuki Motor Corp. | 86,300 | 3,077,139 |
The Yokohama Rubber Co., Ltd. | 24,500 | 425,383 |
Toyoda Gosei Co., Ltd. | 17,100 | 391,841 |
Toyota Industries Corp. | 39,700 | 1,821,568 |
Toyota Motor Corp. | 633,703 | 36,759,029 |
Yamaha Motor Co., Ltd. | 63,000 | 1,399,546 |
92,007,551 | ||
Banks 1.9% | ||
Aozora Bank Ltd. | 253,000 | 835,927 |
Concordia Financial Group Ltd. | 277,000 | 1,284,366 |
Fukuoka Financial Group, Inc. | 180,000 | 778,945 |
Japan Post Bank Co., Ltd. | 88,600 | 1,044,147 |
Kyushu Financial Group, Inc. | 75,000 | 498,708 |
Mebuki Financial Group, Inc. | 226,580 | 806,342 |
Mitsubishi UFJ Financial Group, Inc. | 3,029,009 | 15,629,106 |
Mizuho Financial Group, Inc. | 5,663,234 | 9,535,482 |
Resona Holdings, Inc. | 520,600 | 2,307,549 |
Seven Bank Ltd. | 149,400 | 459,284 |
Shinsei Bank Ltd. | 411,000 | 664,489 |
Sumitomo Mitsui Financial Group, Inc. | 318,746 | 11,051,454 |
Sumitomo Mitsui Trust Holdings, Inc. | 79,000 | 2,665,679 |
Suruga Bank Ltd. | 44,300 | 1,081,491 |
The Bank of Kyoto Ltd. | 77,000 | 564,664 |
The Chiba Bank Ltd. | 169,000 | 1,045,229 |
The Chugoku Bank Ltd. | 43,400 | 582,321 |
The Hachijuni Bank Ltd. | 95,000 | 517,903 |
The Hiroshima Bank Ltd. | 116,000 | 496,440 |
The Iyo Bank Ltd. | 57,500 | 353,383 |
The Shizuoka Bank Ltd. | 132,000 | 1,114,018 |
Yamaguchi Financial Group, Inc. | 50,000 | 551,216 |
53,868,143 | ||
Capital Goods 3.3% | ||
Amada Holdings Co., Ltd. | 86,000 | 979,634 |
Asahi Glass Co., Ltd. | 246,000 | 1,720,476 |
Daikin Industries Ltd. | 55,100 | 5,280,216 |
FANUC Corp. | 46,200 | 8,458,639 |
Fuji Electric Co., Ltd. | 140,000 | 699,101 |
Hino Motors Ltd. | 61,600 | 671,452 |
Hitachi Construction Machinery Co., Ltd. | 23,300 | 487,392 |
Hoshizaki Corp. | 11,900 | 1,073,955 |
IHI Corp. * | 356,000 | 936,535 |
ITOCHU Corp. | 355,200 | 4,485,712 |
JGC Corp. | 48,000 | 848,532 |
JTEKT Corp. | 53,100 | 785,802 |
Kajima Corp. | 215,000 | 1,449,861 |
Kawasaki Heavy Industries Ltd. | 357,000 | 1,042,759 |
Security | Number of Shares | Value ($) |
Keihan Holdings Co., Ltd. | 115,000 | 776,434 |
Komatsu Ltd. | 219,309 | 4,881,622 |
Kubota Corp. | 251,000 | 4,045,706 |
Kurita Water Industries Ltd. | 25,000 | 591,668 |
LIXIL Group Corp. | 64,900 | 1,490,643 |
Mabuchi Motor Co., Ltd. | 11,300 | 656,876 |
Makita Corp. | 26,500 | 1,832,218 |
Marubeni Corp. | 393,000 | 2,065,127 |
Minebea Co., Ltd. | 89,000 | 908,199 |
Mitsubishi Corp. | 358,600 | 7,804,914 |
Mitsubishi Electric Corp. | 453,000 | 6,128,715 |
Mitsubishi Heavy Industries Ltd. | 760,000 | 3,251,178 |
Mitsui & Co., Ltd. | 398,700 | 5,523,996 |
Nabtesco Corp. | 28,000 | 836,264 |
NGK Insulators Ltd. | 63,000 | 1,156,346 |
Nidec Corp. | 56,600 | 5,476,620 |
NSK Ltd. | 102,400 | 1,138,331 |
Obayashi Corp. | 157,000 | 1,512,414 |
Seibu Holdings, Inc. | 40,700 | 704,194 |
Shimizu Corp. | 124,000 | 1,102,069 |
SMC Corp. | 13,300 | 3,855,339 |
Sumitomo Corp. | 282,000 | 3,242,043 |
Sumitomo Heavy Industries Ltd. | 123,000 | 647,535 |
Taisei Corp. | 255,000 | 1,911,237 |
THK Co., Ltd. | 33,300 | 703,089 |
Toshiba Corp. * | 938,178 | 3,396,976 |
TOTO Ltd. | 32,500 | 1,298,396 |
Toyota Tsusho Corp. | 49,200 | 1,161,537 |
97,019,752 | ||
Commercial & Professional Supplies 0.4% | ||
Dai Nippon Printing Co., Ltd. | 132,000 | 1,323,998 |
Park24 Co., Ltd. | 25,000 | 772,468 |
Recruit Holdings Co., Ltd. | 87,000 | 3,494,748 |
Secom Co., Ltd. | 49,500 | 3,570,888 |
Sohgo Security Services Co., Ltd. | 17,100 | 778,791 |
Toppan Printing Co., Ltd. | 128,000 | 1,203,714 |
11,144,607 | ||
Consumer Durables & Apparel 1.1% | ||
Asics Corp. | 36,800 | 785,286 |
Bandai Namco Holdings, Inc. | 47,500 | 1,422,910 |
Casio Computer Co., Ltd. | 48,900 | 681,107 |
Iida Group Holdings Co., Ltd. | 37,800 | 730,655 |
Nikon Corp. | 81,700 | 1,234,725 |
Panasonic Corp. | 527,912 | 5,445,866 |
Rinnai Corp. | 8,500 | 816,563 |
Sankyo Co., Ltd. | 10,600 | 373,427 |
Sega Sammy Holdings, Inc. | 40,300 | 595,064 |
Sekisui Chemical Co., Ltd. | 97,000 | 1,527,622 |
Sekisui House Ltd. | 147,000 | 2,428,987 |
Sharp Corp. *(a) | 355,000 | 615,955 |
Shimano, Inc. | 17,600 | 3,009,242 |
Sony Corp. | 299,600 | 9,442,866 |
Yamaha Corp. | 40,300 | 1,439,896 |
30,550,171 | ||
Consumer Services 0.1% | ||
Benesse Holdings, Inc. | 14,200 | 372,071 |
McDonald's Holdings Co., Ltd. | 15,000 | 431,591 |
Oriental Land Co., Ltd. | 51,600 | 3,014,110 |
3,817,772 | ||
Diversified Financials 0.6% | ||
Acom Co., Ltd. * | 88,800 | 408,617 |
AEON Financial Service Co., Ltd. | 24,800 | 436,586 |
Credit Saison Co., Ltd. | 34,000 | 587,761 |
Daiwa Securities Group, Inc. | 404,000 | 2,411,956 |
Japan Exchange Group, Inc. | 120,600 | 1,790,645 |
Security | Number of Shares | Value ($) |
Mitsubishi UFJ Lease & Finance Co., Ltd. | 123,600 | 598,370 |
Nomura Holdings, Inc. | 852,500 | 4,270,117 |
ORIX Corp. | 318,400 | 5,045,491 |
SBI Holdings, Inc. | 48,290 | 573,650 |
16,123,193 | ||
Energy 0.2% | ||
Idemitsu Kosan Co., Ltd. | 20,100 | 461,896 |
Inpex Corp. | 224,700 | 2,096,173 |
JX Holdings, Inc. | 491,600 | 1,942,391 |
Showa Shell Sekiyu K.K. | 49,300 | 459,342 |
TonenGeneral Sekiyu K.K. | 68,000 | 669,564 |
5,629,366 | ||
Food & Staples Retailing 0.5% | ||
Aeon Co., Ltd. | 161,200 | 2,227,726 |
FamilyMart UNY Holdings Co., Ltd. | 19,000 | 1,191,690 |
Lawson, Inc. | 14,900 | 1,132,176 |
Seven & i Holdings Co., Ltd. | 178,603 | 7,454,766 |
Sundrug Co., Ltd. | 8,600 | 676,492 |
Tsuruha Holdings, Inc. | 8,500 | 980,755 |
13,663,605 | ||
Food, Beverage & Tobacco 1.0% | ||
Ajinomoto Co., Inc. | 130,700 | 2,906,432 |
Asahi Group Holdings Ltd. | 93,700 | 3,342,368 |
Calbee, Inc. | 16,700 | 605,903 |
Japan Tobacco, Inc. | 260,400 | 9,900,440 |
Kikkoman Corp. | 35,000 | 1,113,470 |
Kirin Holdings Co., Ltd. | 194,300 | 3,340,339 |
MEIJI Holdings Co., Ltd. | 27,000 | 2,692,985 |
NH Foods Ltd. | 39,000 | 934,581 |
Nisshin Seifun Group, Inc. | 49,400 | 727,674 |
Nissin Foods Holdings Co., Ltd. | 15,200 | 879,760 |
Suntory Beverage & Food Ltd. | 34,000 | 1,486,628 |
Toyo Suisan Kaisha Ltd. | 22,800 | 923,714 |
Yakult Honsha Co., Ltd. | 19,800 | 923,142 |
Yamazaki Baking Co., Ltd. | 32,000 | 717,503 |
30,494,939 | ||
Health Care Equipment & Services 0.6% | ||
Alfresa Holdings Corp. | 43,000 | 908,761 |
CYBERDYNE, Inc. *(a) | 23,300 | 349,649 |
Hoya Corp. | 94,407 | 3,939,036 |
M3, Inc. | 44,200 | 1,345,053 |
Medipal Holdings Corp. | 43,300 | 739,833 |
Miraca Holdings, Inc. | 11,800 | 569,659 |
Olympus Corp. | 67,100 | 2,391,812 |
Suzuken Co., Ltd. | 19,500 | 626,312 |
Sysmex Corp. | 37,000 | 2,564,176 |
Terumo Corp. | 80,300 | 3,105,343 |
16,539,634 | ||
Household & Personal Products 0.4% | ||
Kao Corp. | 120,219 | 6,186,050 |
Kose Corp. | 8,000 | 729,850 |
Pola Orbis Holdings, Inc. | 5,300 | 441,009 |
Shiseido Co., Ltd. | 90,100 | 2,324,043 |
Unicharm Corp. | 93,800 | 2,230,489 |
11,911,441 | ||
Insurance 0.7% | ||
Dai-ichi Life Holdings, Inc. | 255,000 | 3,738,547 |
Japan Post Holdings Co., Ltd. | 105,000 | 1,336,565 |
MS&AD Insurance Group Holdings, Inc. | 119,962 | 3,561,289 |
Sompo Holdings, Inc. | 80,200 | 2,595,015 |
Sony Financial Holdings, Inc. | 40,600 | 570,205 |
Security | Number of Shares | Value ($) |
T&D Holdings, Inc. | 138,100 | 1,670,022 |
Tokio Marine Holdings, Inc. | 162,899 | 6,425,283 |
19,896,926 | ||
Materials 1.4% | ||
Air Water, Inc. | 34,000 | 636,141 |
Asahi Kasei Corp. | 292,000 | 2,632,388 |
Daicel Corp. | 72,300 | 950,686 |
Hitachi Chemical Co., Ltd. | 22,600 | 528,317 |
Hitachi Metals Ltd. | 44,700 | 558,721 |
JFE Holdings, Inc. | 124,700 | 1,787,271 |
JSR Corp. | 40,300 | 612,417 |
Kaneka Corp. | 72,000 | 595,705 |
Kansai Paint Co., Ltd. | 48,500 | 1,042,269 |
Kobe Steel Ltd. * | 68,700 | 566,933 |
Kuraray Co., Ltd. | 88,000 | 1,334,125 |
Maruichi Steel Tube Ltd. | 13,300 | 428,809 |
Mitsubishi Chemical Holdings Corp. | 322,400 | 2,116,854 |
Mitsubishi Gas Chemical Co., Inc. | 42,500 | 654,105 |
Mitsubishi Materials Corp. | 27,200 | 779,306 |
Mitsui Chemicals, Inc. | 220,000 | 1,083,424 |
Nippon Paint Holdings Co., Ltd. | 36,100 | 1,227,471 |
Nippon Steel & Sumitomo Metal Corp. | 190,241 | 3,769,218 |
Nitto Denko Corp. | 40,000 | 2,786,733 |
Oji Holdings Corp. | 207,000 | 875,236 |
Shin-Etsu Chemical Co., Ltd. | 92,560 | 7,018,023 |
Sumitomo Chemical Co., Ltd. | 380,000 | 1,797,163 |
Sumitomo Metal Mining Co., Ltd. | 119,000 | 1,546,387 |
Taiheiyo Cement Corp. | 281,000 | 804,757 |
Taiyo Nippon Sanso Corp. | 27,900 | 293,266 |
Teijin Ltd. | 48,200 | 931,292 |
Toray Industries, Inc. | 351,000 | 3,266,731 |
Toyo Seikan Group Holdings Ltd. | 40,600 | 748,872 |
41,372,620 | ||
Media 0.1% | ||
Dentsu, Inc. | 50,600 | 2,522,370 |
Hakuhodo DY Holdings, Inc. | 53,300 | 640,600 |
Toho Co., Ltd. | 29,100 | 873,069 |
4,036,039 | ||
Pharmaceuticals, Biotechnology & Life Sciences 1.4% | ||
Astellas Pharma, Inc. | 504,050 | 7,481,036 |
Chugai Pharmaceutical Co., Ltd. | 53,200 | 1,812,944 |
Daiichi Sankyo Co., Ltd. | 142,200 | 3,416,956 |
Eisai Co., Ltd. | 60,900 | 3,881,017 |
Hisamitsu Pharmaceutical Co., Inc. | 14,600 | 778,794 |
Kyowa Hakko Kirin Co., Ltd. | 62,300 | 950,580 |
Mitsubishi Tanabe Pharma Corp. | 51,200 | 996,581 |
Ono Pharmaceutical Co., Ltd. | 99,500 | 2,522,690 |
Otsuka Holdings Co., Ltd. | 91,100 | 3,987,071 |
Santen Pharmaceutical Co., Ltd. | 90,800 | 1,324,078 |
Shionogi & Co., Ltd. | 71,700 | 3,531,080 |
Sumitomo Dainippon Pharma Co., Ltd. | 41,500 | 718,765 |
Taisho Pharmaceutical Holdings Co., Ltd. | 8,600 | 838,924 |
Takeda Pharmaceutical Co., Ltd. | 168,500 | 7,536,152 |
39,776,668 | ||
Real Estate 1.1% | ||
Aeon Mall Co., Ltd. | 27,400 | 406,911 |
Daito Trust Construction Co., Ltd. | 17,100 | 2,865,596 |
Daiwa House Industry Co., Ltd. | 133,800 | 3,672,349 |
Daiwa House REIT Investment Corp. | 300 | 813,353 |
Hulic Co., Ltd. | 66,400 | 632,240 |
Japan Prime Realty Investment Corp. | 196 | 846,445 |
Japan Real Estate Investment Corp. | 310 | 1,795,160 |
Security | Number of Shares | Value ($) |
Japan Retail Fund Investment Corp. | 624 | 1,419,597 |
Mitsubishi Estate Co., Ltd. | 298,502 | 5,932,674 |
Mitsui Fudosan Co., Ltd. | 211,777 | 4,822,987 |
Nippon Building Fund, Inc. | 343 | 2,038,188 |
Nippon Prologis REIT, Inc. | 396 | 896,212 |
Nomura Real Estate Holdings, Inc. | 31,300 | 528,552 |
Nomura Real Estate Master Fund, Inc. | 957 | 1,553,406 |
NTT Urban Development Corp. | 22,700 | 208,685 |
Sumitomo Realty & Development Co., Ltd. | 86,000 | 2,260,580 |
Tokyo Tatemono Co., Ltd. | 48,500 | 616,089 |
Tokyu Fudosan Holdings Corp. | 132,900 | 749,073 |
United Urban Investment Corp. | 678 | 1,146,511 |
33,204,608 | ||
Retailing 0.6% | ||
ABC-Mart, Inc. | 8,180 | 497,728 |
Don Quijote Holdings Co., Ltd. | 28,100 | 1,068,070 |
Fast Retailing Co., Ltd. | 12,700 | 4,278,584 |
Hikari Tsushin, Inc. | 5,100 | 468,157 |
Isetan Mitsukoshi Holdings Ltd. | 73,000 | 737,773 |
J. Front Retailing Co., Ltd. | 59,500 | 819,097 |
Marui Group Co., Ltd. | 52,300 | 733,694 |
Nitori Holdings Co., Ltd. | 19,200 | 2,293,474 |
Rakuten, Inc. | 220,820 | 2,545,756 |
Ryohin Keikaku Co., Ltd. | 5,800 | 1,238,895 |
Shimamura Co., Ltd. | 5,400 | 691,278 |
Start Today Co., Ltd. | 41,400 | 725,491 |
Takashimaya Co., Ltd. | 81,000 | 660,635 |
USS Co., Ltd. | 51,600 | 872,679 |
Yamada Denki Co., Ltd. | 142,700 | 737,614 |
18,368,925 | ||
Semiconductors & Semiconductor Equipment 0.2% | ||
Rohm Co., Ltd. | 21,500 | 1,130,139 |
Tokyo Electron Ltd. | 37,300 | 3,364,644 |
4,494,783 | ||
Software & Services 0.6% | ||
Fujitsu Ltd. | 433,000 | 2,568,177 |
GungHo Online Entertainment, Inc. (a) | 80,100 | 202,658 |
Kakaku.com, Inc. | 38,400 | 645,141 |
Konami Holdings Corp. | 24,600 | 971,513 |
Mixi, Inc. | 10,100 | 371,055 |
Nexon Co., Ltd. | 41,200 | 701,347 |
Nintendo Co., Ltd. | 26,939 | 6,493,921 |
Nomura Research Institute Ltd. | 29,400 | 1,019,722 |
NTT Data Corp. | 31,100 | 1,604,922 |
Obic Co., Ltd. | 15,400 | 800,006 |
Oracle Corp., Japan | 9,600 | 522,459 |
Otsuka Corp. | 13,300 | 632,789 |
Trend Micro, Inc. | 24,700 | 869,793 |
Yahoo Japan Corp. | 353,000 | 1,354,105 |
18,757,608 | ||
Technology Hardware & Equipment 1.8% | ||
Alps Electric Co., Ltd. | 41,900 | 1,005,084 |
Brother Industries Ltd. | 54,100 | 992,695 |
Canon, Inc. | 254,295 | 7,305,390 |
FUJIFILM Holdings Corp. | 104,311 | 3,944,093 |
Hamamatsu Photonics K.K. | 33,000 | 998,532 |
Hirose Electric Co., Ltd. | 7,085 | 934,900 |
Hitachi High-Technologies Corp. | 15,900 | 663,126 |
Hitachi Ltd. | 1,155,079 | 6,157,602 |
Keyence Corp. | 10,700 | 7,844,078 |
Konica Minolta, Inc. | 106,500 | 953,924 |
Kyocera Corp. | 76,600 | 3,721,914 |
Security | Number of Shares | Value ($) |
Murata Manufacturing Co., Ltd. | 45,474 | 6,350,054 |
NEC Corp. | 605,000 | 1,617,782 |
Nippon Electric Glass Co., Ltd. | 88,000 | 478,718 |
Omron Corp. | 46,400 | 1,780,869 |
Ricoh Co., Ltd. | 155,600 | 1,268,175 |
Seiko Epson Corp. | 70,400 | 1,426,855 |
Shimadzu Corp. | 58,000 | 843,938 |
TDK Corp. | 29,400 | 2,029,937 |
Yaskawa Electric Corp. | 53,900 | 859,915 |
Yokogawa Electric Corp. | 51,000 | 716,395 |
51,893,976 | ||
Telecommunication Services 1.5% | ||
KDDI Corp. | 433,100 | 13,163,275 |
Nippon Telegraph & Telephone Corp. | 163,156 | 7,233,820 |
NTT DOCOMO, Inc. | 338,000 | 8,488,526 |
SoftBank Group Corp. | 227,000 | 14,296,705 |
43,182,326 | ||
Transportation 1.2% | ||
ANA Holdings, Inc. | 293,000 | 822,971 |
Central Japan Railway Co. | 34,300 | 5,832,582 |
East Japan Railway Co. | 79,560 | 7,003,543 |
Hankyu Hanshin Holdings, Inc. | 54,600 | 1,807,705 |
Japan Airlines Co., Ltd. | 27,200 | 802,721 |
Japan Airport Terminal Co., Ltd. (a) | 9,200 | 353,168 |
Kamigumi Co., Ltd. | 51,000 | 435,464 |
Keikyu Corp. | 111,000 | 1,119,866 |
Keio Corp. | 132,000 | 1,092,524 |
Keisei Electric Railway Co., Ltd. | 31,500 | 759,464 |
Kintetsu Group Holdings Co., Ltd. | 440,000 | 1,776,070 |
Mitsubishi Logistics Corp. | 25,000 | 338,411 |
Mitsui O.S.K. Lines Ltd. | 273,000 | 682,685 |
Nagoya Railroad Co., Ltd. | 227,000 | 1,197,836 |
Nippon Express Co., Ltd. | 185,000 | 913,797 |
Nippon Yusen K.K. | 383,000 | 783,813 |
Odakyu Electric Railway Co., Ltd. | 69,500 | 1,418,060 |
Tobu Railway Co., Ltd. | 221,000 | 1,085,008 |
Tokyu Corp. | 250,000 | 1,871,611 |
West Japan Railway Co. | 38,400 | 2,364,550 |
Yamato Holdings Co., Ltd. | 83,400 | 1,900,109 |
34,361,958 | ||
Utilities 0.5% | ||
Chubu Electric Power Co., Inc. | 151,800 | 2,234,701 |
Electric Power Development Co., Ltd. | 33,800 | 787,098 |
Hokuriku Electric Power Co. | 40,300 | 457,748 |
Kyushu Electric Power Co., Inc. | 104,200 | 946,820 |
Osaka Gas Co., Ltd. | 443,000 | 1,842,527 |
Shikoku Electric Power Co., Inc. | 42,400 | 398,711 |
The Chugoku Electric Power Co., Inc. | 70,100 | 820,269 |
The Kansai Electric Power Co., Inc. * | 163,400 | 1,562,148 |
Toho Gas Co., Ltd. | 89,000 | 825,328 |
Tohoku Electric Power Co., Inc. | 111,800 | 1,369,758 |
Tokyo Electric Power Co. Holdings, Inc. * | 343,990 | 1,332,817 |
Tokyo Gas Co., Ltd. | 481,201 | 2,183,434 |
14,761,359 | ||
706,877,970 | ||
Netherlands 3.3% | ||
Banks 0.5% | ||
ABN AMRO Group N.V. CVA (d) | 55,335 | 1,277,113 |
ING Groep N.V. | 916,628 | 12,032,586 |
13,309,699 |
Security | Number of Shares | Value ($) |
Capital Goods 0.3% | ||
AerCap Holdings N.V. * | 40,677 | 1,672,232 |
Boskalis Westminster N.V. | 21,558 | 695,279 |
Koninklijke Philips N.V. | 220,589 | 6,646,824 |
9,014,335 | ||
Commercial & Professional Supplies 0.3% | ||
Randstad Holding N.V. | 26,986 | 1,387,966 |
RELX N.V. | 238,840 | 4,027,448 |
Wolters Kluwer N.V. | 73,207 | 2,830,934 |
8,246,348 | ||
Energy 0.0% | ||
Koninklijke Vopak N.V. | 16,676 | 841,680 |
Food & Staples Retailing 0.2% | ||
Koninklijke Ahold Delhaize N.V. | 305,221 | 6,962,823 |
Food, Beverage & Tobacco 0.3% | ||
Coca-Cola European Partners plc | 47,000 | 1,808,807 |
Heineken Holding N.V. | 24,444 | 1,880,765 |
Heineken N.V. | 55,259 | 4,551,584 |
8,241,156 | ||
Household & Personal Products 0.6% | ||
Unilever N.V. CVA | 385,786 | 16,135,876 |
Insurance 0.1% | ||
Aegon N.V. | 434,813 | 1,880,976 |
NN Group N.V. | 76,122 | 2,292,995 |
4,173,971 | ||
Materials 0.2% | ||
Akzo Nobel N.V. | 58,503 | 3,779,940 |
Koninklijke DSM N.V. | 43,663 | 2,806,418 |
OCI N.V. *(a) | 21,770 | 302,177 |
6,888,535 | ||
Media 0.1% | ||
Altice N.V., Class A * | 91,755 | 1,692,332 |
Altice N.V., Class B * | 24,908 | 463,699 |
2,156,031 | ||
Semiconductors & Semiconductor Equipment 0.6% | ||
ASML Holding N.V. | 87,431 | 9,249,668 |
NXP Semiconductors N.V. * | 69,916 | 6,991,600 |
16,241,268 | ||
Software & Services 0.0% | ||
Gemalto N.V. | 19,973 | 1,085,166 |
Telecommunication Services 0.1% | ||
Koninklijke KPN N.V. | 786,744 | 2,565,375 |
95,862,263 | ||
New Zealand 0.2% | ||
Health Care Equipment & Services 0.0% | ||
Ryman Healthcare Ltd. | 97,507 | 618,863 |
Materials 0.1% | ||
Fletcher Building Ltd. | 171,142 | 1,267,831 |
Telecommunication Services 0.0% | ||
Spark New Zealand Ltd. | 420,111 | 1,098,752 |
Transportation 0.0% | ||
Auckland International Airport Ltd. | 241,551 | 1,137,600 |
Utilities 0.1% | ||
Contact Energy Ltd. | 165,447 | 562,567 |
Mercury NZ Ltd. | 131,151 | 286,307 |
Meridian Energy Ltd. | 316,280 | 581,306 |
1,430,180 | ||
5,553,226 | ||
Security | Number of Shares | Value ($) |
Norway 0.6% | ||
Banks 0.1% | ||
DNB A.S.A. | 230,626 | 3,334,085 |
Energy 0.2% | ||
Statoil A.S.A. | 267,877 | 4,373,361 |
Food, Beverage & Tobacco 0.1% | ||
Marine Harvest A.S.A. * | 89,225 | 1,619,101 |
Orkla A.S.A. | 198,846 | 1,877,588 |
3,496,689 | ||
Insurance 0.0% | ||
Gjensidige Forsikring A.S.A. | 40,763 | 730,353 |
Materials 0.1% | ||
Norsk Hydro A.S.A. | 331,184 | 1,480,637 |
Yara International A.S.A. | 40,976 | 1,447,447 |
2,928,084 | ||
Media 0.0% | ||
Schibsted A.S.A., B Shares | 20,539 | 462,746 |
Schibsted A.S.A., Class A | 17,000 | 407,448 |
870,194 | ||
Telecommunication Services 0.1% | ||
Telenor A.S.A. | 180,244 | 2,866,752 |
18,599,518 | ||
Portugal 0.1% | ||
Banks 0.0% | ||
Banco Espirito Santo S.A. - Reg'd *(b)(f) | 470,491 | — |
Energy 0.0% | ||
Galp Energia, SGPS, S.A. | 104,351 | 1,414,819 |
Food & Staples Retailing 0.0% | ||
Jeronimo Martins, SGPS, S.A. | 59,857 | 1,028,530 |
Utilities 0.1% | ||
EDP - Energias de Portugal S.A. | 562,711 | 1,859,906 |
4,303,255 | ||
Singapore 1.2% | ||
Banks 0.5% | ||
DBS Group Holdings Ltd. | 415,346 | 4,476,892 |
Oversea-Chinese Banking Corp., Ltd. | 728,371 | 4,437,335 |
United Overseas Bank Ltd. | 307,533 | 4,148,811 |
13,063,038 | ||
Capital Goods 0.1% | ||
Keppel Corp., Ltd. | 353,600 | 1,337,190 |
Noble Group Ltd. *(a) | 2,187,800 | 260,133 |
Sembcorp Industries Ltd. | 260,600 | 471,898 |
Sembcorp Marine Ltd. (a) | 152,000 | 140,940 |
Singapore Technologies Engineering Ltd. | 375,200 | 843,512 |
Yangzijiang Shipbuilding Holdings Ltd. | 431,000 | 230,418 |
3,284,091 | ||
Consumer Services 0.0% | ||
Genting Singapore plc | 1,564,900 | 837,404 |
Diversified Financials 0.0% | ||
Singapore Exchange Ltd. | 186,900 | 952,253 |
Food, Beverage & Tobacco 0.1% | ||
Golden Agri-Resources Ltd. | 1,652,500 | 456,304 |
Wilmar International Ltd. | 456,200 | 1,083,072 |
1,539,376 |
Security | Number of Shares | Value ($) |
Media 0.0% | ||
Singapore Press Holdings Ltd. | 367,400 | 981,836 |
Real Estate 0.2% | ||
Ascendas Real Estate Investment Trust | 541,900 | 923,477 |
CapitaLand Commercial Trust | 452,900 | 512,512 |
CapitaLand Ltd. | 562,500 | 1,247,577 |
CapitaLand Mall Trust | 644,100 | 959,800 |
City Developments Ltd. | 87,300 | 531,546 |
Global Logistic Properties Ltd. | 606,000 | 771,106 |
Suntec Real Estate Investment Trust | 570,100 | 688,568 |
UOL Group Ltd. | 128,200 | 521,413 |
6,155,999 | ||
Retailing 0.0% | ||
Jardine Cycle & Carriage Ltd. | 22,000 | 666,207 |
Telecommunication Services 0.2% | ||
Singapore Telecommunications Ltd. | 1,875,737 | 5,227,541 |
StarHub Ltd. | 129,000 | 313,137 |
5,540,678 | ||
Transportation 0.1% | ||
ComfortDelGro Corp., Ltd. | 537,600 | 980,161 |
Hutchison Port Holdings Trust, Class U | 1,165,600 | 517,771 |
Singapore Airlines Ltd. | 128,400 | 934,360 |
2,432,292 | ||
35,453,174 | ||
Spain 3.2% | ||
Banks 1.2% | ||
Banco Bilbao Vizcaya Argentaria S.A. | 1,553,324 | 11,181,894 |
Banco De Sabadell S.A. | 1,207,465 | 1,612,241 |
Banco Popular Espanol S.A. | 835,149 | 913,763 |
Banco Santander S.A. | 3,427,155 | 16,793,148 |
Bankia S.A. | 1,163,780 | 1,022,444 |
Bankinter S.A. | 167,699 | 1,281,785 |
CaixaBank S.A. | 789,114 | 2,381,063 |
35,186,338 | ||
Capital Goods 0.1% | ||
ACS Actividades de Construccion y Servicios S.A. | 43,649 | 1,335,165 |
Ferrovial S.A. | 117,317 | 2,279,217 |
Zardoya Otis S.A. | 44,981 | 378,835 |
3,993,217 | ||
Energy 0.1% | ||
Repsol S.A. | 264,013 | 3,686,279 |
Food & Staples Retailing 0.0% | ||
Distribuidora Internacional de Alimentacion S.A. | 135,669 | 724,621 |
Insurance 0.0% | ||
Mapfre S.A. | 244,029 | 723,894 |
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
Grifols S.A. | 69,528 | 1,371,946 |
Retailing 0.3% | ||
Industria de Diseno Textil S.A. | 256,518 | 8,950,533 |
Software & Services 0.2% | ||
Amadeus IT Group S.A. | 104,202 | 4,904,144 |
Telecommunication Services 0.4% | ||
Telefonica S.A. | 1,064,002 | 10,810,902 |
Security | Number of Shares | Value ($) |
Transportation 0.2% | ||
Abertis Infraestructuras S.A. | 152,276 | 2,257,127 |
Aena S.A. (d) | 15,870 | 2,325,520 |
International Consolidated Airlines Group S.A. | 193,828 | 1,027,112 |
5,609,759 | ||
Utilities 0.6% | ||
Enagas S.A. | 53,218 | 1,525,491 |
Endesa S.A. | 76,694 | 1,627,878 |
Gas Natural SDG S.A. | 82,954 | 1,632,892 |
Iberdrola S.A. | 1,287,082 | 8,759,170 |
Red Electrica Corp. S.A. | 104,948 | 2,186,326 |
15,731,757 | ||
91,693,390 | ||
Sweden 2.7% | ||
Banks 0.7% | ||
Nordea Bank AB | 717,282 | 7,538,006 |
Skandinaviska Enskilda Banken AB, A Shares | 359,184 | 3,622,870 |
Svenska Handelsbanken AB, A Shares | 362,809 | 4,946,220 |
Swedbank AB, A Shares | 210,066 | 4,915,380 |
21,022,476 | ||
Capital Goods 0.8% | ||
Alfa Laval AB | 71,707 | 1,028,757 |
Assa Abloy AB, Class B | 239,253 | 4,348,050 |
Atlas Copco AB, A Shares | 159,588 | 4,675,141 |
Atlas Copco AB, B Shares | 94,007 | 2,455,518 |
Sandvik AB | 260,070 | 2,954,761 |
Skanska AB, B Shares | 81,302 | 1,765,600 |
SKF AB, B Shares | 94,053 | 1,593,065 |
Volvo AB, B Shares | 364,022 | 3,904,461 |
22,725,353 | ||
Commercial & Professional Supplies 0.1% | ||
Securitas AB, B Shares | 73,924 | 1,140,934 |
Consumer Durables & Apparel 0.1% | ||
Electrolux AB, B Shares | 56,468 | 1,336,504 |
Husqvarna AB, B Shares | 94,980 | 714,076 |
2,050,580 | ||
Diversified Financials 0.2% | ||
Industrivarden AB, C Shares | 41,251 | 735,728 |
Investor AB, B Shares | 108,254 | 3,844,354 |
Kinnevik AB, Class B | 55,465 | 1,402,232 |
5,982,314 | ||
Energy 0.0% | ||
Lundin Petroleum AB * | 42,073 | 756,274 |
Food & Staples Retailing 0.0% | ||
ICA Gruppen AB | 19,005 | 590,004 |
Food, Beverage & Tobacco 0.1% | ||
Swedish Match AB | 45,711 | 1,590,748 |
Health Care Equipment & Services 0.0% | ||
Getinge AB, B Shares | 47,027 | 770,090 |
Household & Personal Products 0.1% | ||
Svenska Cellulosa AB, S.C.A., B Shares | 142,287 | 4,029,967 |
Materials 0.1% | ||
Boliden AB | 68,957 | 1,598,177 |
Retailing 0.2% | ||
Hennes & Mauritz AB, B Shares | 224,358 | 6,309,542 |
Security | Number of Shares | Value ($) |
Technology Hardware & Equipment 0.2% | ||
Hexagon AB, B Shares | 62,898 | 2,200,931 |
Telefonaktiebolaget LM Ericsson, B Shares | 730,787 | 3,544,945 |
5,745,876 | ||
Telecommunication Services 0.1% | ||
Millicom International Cellular S.A. SDR | 14,921 | 655,580 |
Tele2 AB, B Shares | 74,695 | 616,796 |
Telia Co. AB | 612,061 | 2,445,093 |
3,717,469 | ||
78,029,804 | ||
Switzerland 8.6% | ||
Capital Goods 0.6% | ||
ABB Ltd. - Reg'd * | 467,833 | 9,651,590 |
Geberit AG - Reg'd | 8,940 | 3,779,560 |
Schindler Holding AG | 10,943 | 2,032,956 |
Schindler Holding AG - Reg'd | 4,537 | 839,834 |
16,303,940 | ||
Commercial & Professional Supplies 0.2% | ||
Adecco Group AG | 38,240 | 2,270,689 |
SGS S.A. - Reg'd | 1,318 | 2,667,754 |
4,938,443 | ||
Consumer Durables & Apparel 0.4% | ||
Cie Financiere Richemont S.A. - Reg'd | 122,609 | 7,882,517 |
The Swatch Group AG - Bearer Shares (a) | 7,227 | 2,173,570 |
The Swatch Group AG - Reg'd | 11,639 | 670,965 |
10,727,052 | ||
Diversified Financials 0.8% | ||
Credit Suisse Group AG - Reg'd * | 437,829 | 6,108,929 |
Julius Baer Group Ltd. * | 53,043 | 2,147,264 |
Pargesa Holding S.A. | 8,318 | 558,367 |
Partners Group Holding AG | 4,156 | 2,103,934 |
UBS Group AG - Reg’d | 867,013 | 12,257,534 |
23,176,028 | ||
Food, Beverage & Tobacco 2.0% | ||
Aryzta AG * | 22,198 | 975,412 |
Barry Callebaut AG - Reg'd * | 534 | 665,002 |
Chocoladefabriken Lindt & Spruengli AG | 238 | 1,235,883 |
Chocoladefabriken Lindt & Spruengli AG - Reg'd | 23 | 1,427,113 |
Nestle S.A. - Reg'd | 756,637 | 54,866,676 |
59,170,086 | ||
Health Care Equipment & Services 0.1% | ||
Sonova Holding AG - Reg'd | 12,877 | 1,726,970 |
Insurance 0.7% | ||
Baloise Holding AG - Reg'd | 11,516 | 1,416,808 |
Swiss Life Holding AG - Reg'd * | 7,680 | 2,032,378 |
Swiss Re AG | 79,249 | 7,355,235 |
Zurich Insurance Group AG * | 35,657 | 9,333,452 |
20,137,873 | ||
Materials 0.8% | ||
EMS-Chemie Holding AG - Reg'd | 2,075 | 1,041,536 |
Givaudan S.A. - Reg'd | 2,189 | 4,233,674 |
LafargeHolcim Ltd. - Reg'd | 106,978 | 5,706,283 |
Sika AG | 519 | 2,494,551 |
Syngenta AG - Reg'd | 22,008 | 8,806,850 |
22,282,894 |
Security | Number of Shares | Value ($) |
Pharmaceuticals, Biotechnology & Life Sciences 2.8% | ||
Actelion Ltd. - Reg'd * | 24,590 | 3,553,152 |
Galenica AG - Reg'd | 909 | 911,378 |
Lonza Group AG - Reg'd * | 12,926 | 2,439,158 |
Novartis AG - Reg'd | 529,525 | 37,579,109 |
Roche Holding AG | 166,552 | 38,253,921 |
82,736,718 | ||
Real Estate 0.0% | ||
Swiss Prime Site AG - Reg'd * | 16,700 | 1,385,083 |
Retailing 0.0% | ||
Dufry AG - Reg'd * | 10,808 | 1,314,875 |
Telecommunication Services 0.1% | ||
Swisscom AG - Reg'd | 6,157 | 2,814,506 |
Transportation 0.1% | ||
Kuehne & Nagel International AG - Reg'd | 13,052 | 1,769,095 |
248,483,563 | ||
United Kingdom 17.6% | ||
Automobiles & Components 0.1% | ||
GKN plc | 403,858 | 1,574,974 |
Banks 2.2% | ||
Barclays plc | 4,020,613 | 9,314,984 |
HSBC Holdings plc | 4,699,826 | 35,395,032 |
Lloyds Banking Group plc | 15,258,440 | 10,655,320 |
Royal Bank of Scotland Group plc * | 862,342 | 1,992,794 |
Standard Chartered plc * | 778,604 | 6,770,671 |
64,128,801 | ||
Capital Goods 0.8% | ||
Ashtead Group plc | 123,822 | 1,929,335 |
BAE Systems plc | 754,574 | 4,999,622 |
Bunzl plc | 79,336 | 2,129,959 |
Cobham plc | 399,549 | 697,112 |
DCC plc | 21,014 | 1,709,688 |
IMI plc | 60,653 | 736,721 |
Meggitt plc | 179,669 | 955,831 |
Rolls-Royce Holdings plc *(b)(f) | 19,748,674 | 24,172 |
Rolls-Royce Holdings plc * | 429,319 | 3,810,900 |
Smiths Group plc | 91,636 | 1,587,885 |
The Weir Group plc | 48,776 | 1,013,213 |
Travis Perkins plc | 59,574 | 969,236 |
Wolseley plc | 61,057 | 3,166,994 |
23,730,668 | ||
Commercial & Professional Supplies 0.5% | ||
Aggreko plc | 63,157 | 617,520 |
Babcock International Group plc | 58,617 | 708,553 |
Capita plc | 158,039 | 1,131,228 |
Experian plc | 225,430 | 4,333,787 |
G4S plc | 381,811 | 1,025,590 |
Intertek Group plc | 37,163 | 1,550,518 |
RELX plc | 257,281 | 4,592,502 |
13,959,698 | ||
Consumer Durables & Apparel 0.2% | ||
Barratt Developments plc | 232,875 | 1,291,393 |
Burberry Group plc | 109,653 | 1,977,600 |
Persimmon plc | 72,100 | 1,492,458 |
Taylor Wimpey plc | 803,910 | 1,392,164 |
The Berkeley Group Holdings plc | 31,587 | 911,013 |
7,064,628 | ||
Consumer Services 0.5% | ||
Carnival plc | 45,653 | 2,201,976 |
Compass Group plc | 384,522 | 6,957,647 |
InterContinental Hotels Group plc | 44,165 | 1,712,217 |
Security | Number of Shares | Value ($) |
Merlin Entertainments plc (d) | 175,038 | 986,481 |
TUI AG | 116,827 | 1,480,867 |
Whitbread plc | 43,597 | 1,925,908 |
William Hill plc | 221,805 | 802,371 |
16,067,467 | ||
Diversified Financials 0.4% | ||
3i Group plc | 228,206 | 1,870,651 |
Aberdeen Asset Management plc | 237,683 | 929,728 |
Hargreaves Lansdown plc | 64,972 | 921,086 |
ICAP plc | 133,167 | 789,608 |
Investec plc | 154,548 | 959,154 |
London Stock Exchange Group plc | 75,135 | 2,580,775 |
Provident Financial plc | 34,271 | 1,235,482 |
Schroders plc | 31,199 | 1,073,863 |
10,360,347 | ||
Energy 2.6% | ||
BP plc | 4,423,880 | 26,152,670 |
Petrofac Ltd. | 60,315 | 594,014 |
Royal Dutch Shell plc, A Shares | 1,009,722 | 25,149,186 |
Royal Dutch Shell plc, B Shares | 893,242 | 23,038,947 |
74,934,817 | ||
Food & Staples Retailing 0.3% | ||
J. Sainsbury plc | 391,405 | 1,200,064 |
Tesco plc * | 1,936,494 | 4,987,800 |
WM Morrison Supermarkets plc | 511,940 | 1,417,185 |
7,605,049 | ||
Food, Beverage & Tobacco 2.0% | ||
Associated British Foods plc | 86,124 | 2,590,526 |
British American Tobacco plc | 442,118 | 25,339,080 |
Coca-Cola HBC AG CDI * | 39,626 | 855,125 |
Diageo plc | 598,553 | 15,931,409 |
Imperial Brands plc | 227,021 | 10,981,419 |
Tate & Lyle plc | 105,915 | 1,010,107 |
56,707,666 | ||
Health Care Equipment & Services 0.1% | ||
Mediclinic International plc | 84,173 | 933,326 |
Smith & Nephew plc | 218,512 | 3,158,887 |
4,092,213 | ||
Household & Personal Products 0.9% | ||
Reckitt Benckiser Group plc | 151,028 | 13,511,041 |
Unilever plc | 304,589 | 12,716,347 |
26,227,388 | ||
Insurance 1.0% | ||
Admiral Group plc | 52,234 | 1,223,800 |
Aviva plc | 960,541 | 5,204,955 |
Direct Line Insurance Group plc | 329,168 | 1,392,569 |
Legal & General Group plc | 1,421,810 | 3,637,350 |
Old Mutual plc | 1,148,660 | 2,825,632 |
Prudential plc | 608,272 | 9,926,311 |
RSA Insurance Group plc | 249,340 | 1,683,456 |
St. James's Place plc | 125,254 | 1,446,535 |
Standard Life plc | 473,321 | 1,953,237 |
29,293,845 | ||
Materials 1.4% | ||
Anglo American plc * | 326,561 | 4,532,407 |
Antofagasta plc | 88,778 | 590,468 |
BHP Billiton plc | 496,517 | 7,466,158 |
Croda International plc | 32,210 | 1,377,454 |
Fresnillo plc | 54,397 | 1,094,423 |
Glencore plc * | 2,916,026 | 8,926,264 |
Johnson Matthey plc | 44,913 | 1,872,118 |
Mondi plc | 86,402 | 1,686,181 |
Security | Number of Shares | Value ($) |
Randgold Resources Ltd. | 21,736 | 1,930,300 |
Rio Tinto plc | 292,782 | 10,181,585 |
39,657,358 | ||
Media 0.4% | ||
ITV plc | 852,113 | 1,776,441 |
Pearson plc | 191,968 | 1,775,967 |
Sky plc | 247,935 | 2,478,667 |
WPP plc | 308,129 | 6,690,420 |
12,721,495 | ||
Pharmaceuticals, Biotechnology & Life Sciences 1.8% | ||
AstraZeneca plc | 300,370 | 16,819,242 |
GlaxoSmithKline plc | 1,154,817 | 22,812,633 |
Hikma Pharmaceuticals plc | 33,976 | 728,728 |
Shire plc | 211,882 | 11,963,429 |
52,324,032 | ||
Real Estate 0.2% | ||
Hammerson plc | 185,934 | 1,250,875 |
Intu Properties plc | 214,014 | 721,276 |
Land Securities Group plc | 185,117 | 2,260,390 |
Segro plc | 196,792 | 1,054,030 |
The British Land Co., plc | 231,969 | 1,660,757 |
6,947,328 | ||
Retailing 0.2% | ||
Dixons Carphone plc | 239,157 | 919,459 |
Kingfisher plc | 547,200 | 2,417,211 |
Marks & Spencer Group plc | 395,363 | 1,645,021 |
Next plc | 32,729 | 1,925,572 |
6,907,263 | ||
Software & Services 0.2% | ||
Auto Trader Group plc (d) | 231,645 | 1,061,275 |
The Sage Group plc | 257,798 | 2,274,542 |
Worldpay Group plc (d) | 426,707 | 1,482,991 |
4,818,808 | ||
Telecommunication Services 0.9% | ||
BT Group plc | 2,010,713 | 9,229,249 |
Inmarsat plc | 104,142 | 893,336 |
Vodafone Group plc | 6,301,334 | 17,305,509 |
27,428,094 | ||
Transportation 0.1% | ||
easyJet plc | 37,117 | 425,641 |
Royal Mail plc | 210,337 | 1,261,915 |
1,687,556 | ||
Utilities 0.8% | ||
Centrica plc | 1,288,839 | 3,375,798 |
National Grid plc | 887,446 | 11,543,699 |
Severn Trent plc | 57,848 | 1,646,712 |
SSE plc | 237,131 | 4,610,548 |
United Utilities Group plc | 167,568 | 1,926,172 |
23,102,929 | ||
511,342,424 | ||
Total Common Stock | ||
(Cost $2,555,902,633) | 2,840,451,179 | |
Preferred Stock 0.6% of net assets | ||
Germany 0.5% | ||
Automobiles & Components 0.3% | ||
Bayerische Motoren Werke AG | 12,237 | 929,102 |
Porsche Automobil Holding SE | 35,717 | 1,930,089 |
Security | Number of Shares | Value ($) |
Schaeffler AG | 39,555 | 599,636 |
Volkswagen AG | 44,875 | 6,187,164 |
9,645,991 | ||
Household & Personal Products 0.2% | ||
Henkel AG & Co. KGaA | 42,318 | 5,439,161 |
Materials 0.0% | ||
Fuchs Petrolub SE | 16,120 | 721,514 |
15,806,666 | ||
Italy 0.1% | ||
Banks 0.0% | ||
Intesa Sanpaolo S.p.A. - RSP | 209,571 | 453,732 |
Telecommunication Services 0.1% | ||
Telecom Italia S.p.A. - RSP * | 1,475,907 | 1,047,670 |
1,501,402 | ||
Total Preferred Stock | ||
(Cost $17,481,434) | 17,308,068 | |
Rights 0.0% of net assets | ||
Italy 0.0% | ||
Diversified Financials 0.0% | ||
EXOR S.p.A. *(b)(f) | 27,867 | — |
Spain 0.0% | ||
Capital Goods 0.0% | ||
Ferrovial S.A. expires 02/24/17* | 117,317 | 50,226 |
Sweden 0.0% | ||
Telecommunication Services 0.0% | ||
Tele2 AB expires 01/26/17*(b)(f) | 74,695 | 22,380 |
Total Rights | ||
(Cost $52,470) | 72,606 | |
Other Investment Company 0.2% of net assets | ||
United States 0.2% | ||
Securities Lending Collateral 0.2% | ||
Wells Fargo Government Money Market Fund,Select Class 0.32% (c) | 3,953,494 | 3,953,494 |
Total Other Investment Company | ||
(Cost $3,953,494) | 3,953,494 | |
Security Rate, Maturity Date | Face Amount Local Currency | Value ($) |
Short-Term Investments 0.9% of net assets | ||
Time Deposits 0.9% | ||
Australia & New Zealand Banking Group Ltd. | ||
New Zealand Dollar | ||
0.75%, 11/01/16 (e) | 179,989 | 128,710 |
BNP Paribas | ||
Hong Kong Dollar | ||
0.01%, 11/01/16 (e) | 1,652,539 | 213,078 |
Security Rate, Maturity Date | Face Amount Local Currency | Value ($) |
Brown Brothers Harriman | ||
Danish Krone | ||
(0.50%), 11/01/16 (e) | 449,984 | 66,411 |
Swiss Franc | ||
(1.45%), 11/01/16 (e) | 32,642 | 32,987 |
DNB | ||
Australian Dollar | ||
0.48%, 11/01/16 (e) | 540,904 | 411,465 |
Euro | ||
(0.57%), 11/01/16 (e) | 254,449 | 279,322 |
ING Bank | ||
Singapore Dollar | ||
0.01%, 11/01/16 (e) | 294,811 | 211,903 |
Nordea Bank | ||
Norwegian Krone | ||
0.09%, 11/01/16 (e) | 227,664 | 27,554 |
Skandinaviska Enskilda Banken | ||
Swedish Krona | ||
(1.05%), 11/01/16 (e) | 1,391,149 | 154,022 |
Sumitomo Mitsui Banking Corp. | ||
Great British Pound | ||
0.05%, 11/01/16 (e) | 556,867 | 681,606 |
Japanese Yen | ||
(0.42%), 11/01/16 (e) | 20,367,746 | 194,219 |
U.S. Dollar | ||
0.15%, 11/01/16 (e) | 24,352,712 | 24,352,712 |
Total Short-Term Investments | ||
(Cost $26,753,989) | 26,753,989 |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $3,735,911. |
(b) | Illiquid security. At the period end, the value of these amounted to $46,552 or 0.0% of net assets. |
(c) | The rate shown is the 7-day yield. |
(d) | Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $12,909,094 or 0.4% of net assets. |
(e) | The rate shown is the current daily overnight rate. |
(f) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
ADR — | American Depositary Receipt |
CDI — | CHESS Depositary Interest |
CVA — | Dutch Certificate |
Reg'd — | Registered |
REIT — | Real Estate Investment Trust |
RSP — | Risparmio (Convertible Savings Shares) |
SDR — | Swedish Depositary Receipt |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
MSCI EAFE, e-mini, Long, expires 12/16/16 | 400 | 33,314,000 | (428,653) |
Table of Contents
Holdings by Category | Cost ($) | Value ($) | |
99.4% | Common Stock | 3,690,338,853 | 4,539,101,489 |
0.6% | Other Investment Companies | 29,213,906 | 29,213,906 |
100.0% | Total Investments | 3,719,552,759 | 4,568,315,395 |
0.0% | Other Assets and Liabilities, Net | 622,072 | |
100.0% | Net Assets | 4,568,937,467 |
Security | Number of Shares | Value ($) |
Common Stock 99.4% of net assets | ||
Automobiles & Components 1.2% | ||
Adient plc * | 27,185 | 1,237,190 |
BorgWarner, Inc. | 65,767 | 2,357,089 |
Dana, Inc. | 92,500 | 1,431,900 |
Delphi Automotive plc | 53,000 | 3,448,710 |
Ford Motor Co. | 1,474,641 | 17,312,285 |
General Motors Co. | 584,768 | 18,478,669 |
Harley-Davidson, Inc. | 57,354 | 3,270,325 |
Lear Corp. | 25,900 | 3,180,002 |
The Goodyear Tire & Rubber Co. | 73,290 | 2,127,609 |
Thor Industries, Inc. | 14,300 | 1,134,133 |
Visteon Corp. | 22,100 | 1,560,481 |
55,538,393 | ||
Banks 5.0% | ||
Bank of America Corp. | 1,906,694 | 31,460,451 |
BB&T Corp. | 156,775 | 6,145,580 |
CIT Group, Inc. | 70,200 | 2,550,366 |
Citigroup, Inc. | 716,472 | 35,214,599 |
Citizens Financial Group, Inc. | 82,800 | 2,180,952 |
Comerica, Inc. | 26,900 | 1,401,221 |
Fifth Third Bancorp | 216,890 | 4,719,526 |
Huntington Bancshares, Inc. | 175,727 | 1,862,706 |
JPMorgan Chase & Co. | 853,423 | 59,108,077 |
KeyCorp | 216,857 | 3,062,021 |
M&T Bank Corp. | 24,919 | 3,058,309 |
New York Community Bancorp, Inc. | 137,530 | 1,974,931 |
People's United Financial, Inc. | 89,577 | 1,454,730 |
PHH Corp. * | 97,958 | 1,422,350 |
Regions Financial Corp. | 310,825 | 3,328,936 |
SunTrust Banks, Inc. | 99,760 | 4,512,145 |
The PNC Financial Services Group, Inc. | 100,935 | 9,649,386 |
U.S. Bancorp | 303,360 | 13,578,393 |
Wells Fargo & Co. | 915,163 | 42,106,650 |
228,791,329 | ||
Capital Goods 8.2% | ||
3M Co. | 123,161 | 20,358,513 |
AECOM * | 55,854 | 1,555,534 |
AGCO Corp. | 42,740 | 2,183,159 |
Alcoa, Inc. | 171,810 | 4,934,383 |
AMETEK, Inc. | 31,100 | 1,371,510 |
Armstrong World Industries, Inc. * | 32,700 | 1,226,250 |
Security | Number of Shares | Value ($) |
Carlisle Cos., Inc. | 11,000 | 1,153,350 |
Caterpillar, Inc. | 228,137 | 19,040,314 |
Chicago Bridge & Iron Co., N.V. | 39,400 | 1,261,588 |
Cummins, Inc. | 65,094 | 8,320,315 |
Deere & Co. | 154,993 | 13,685,882 |
Dover Corp. | 51,875 | 3,469,919 |
Eaton Corp. plc | 112,316 | 7,162,391 |
EMCOR Group, Inc. | 25,340 | 1,532,056 |
Emerson Electric Co. | 257,310 | 13,040,471 |
Fastenal Co. | 53,040 | 2,067,499 |
Flowserve Corp. | 53,475 | 2,264,666 |
Fluor Corp. | 128,650 | 6,688,513 |
Fortive Corp. | 9,378 | 478,747 |
Fortune Brands Home & Security, Inc. | 21,400 | 1,169,082 |
General Dynamics Corp. | 73,916 | 11,142,098 |
General Electric Co. | 1,864,598 | 54,259,802 |
Herc Holdings, Inc. * | 19,453 | 585,341 |
Honeywell International, Inc. | 120,945 | 13,265,248 |
Hubbell, Inc. | 13,284 | 1,388,444 |
Huntington Ingalls Industries, Inc. | 8,100 | 1,307,016 |
IDEX Corp. | 12,800 | 1,106,432 |
Illinois Tool Works, Inc. | 88,734 | 10,077,520 |
Ingersoll-Rand plc | 71,282 | 4,796,566 |
Jacobs Engineering Group, Inc. * | 65,940 | 3,401,185 |
Johnson Controls International plc | 271,858 | 10,961,315 |
Joy Global, Inc. | 114,800 | 3,194,884 |
KBR, Inc. | 138,400 | 2,049,704 |
L-3 Communications Holdings, Inc. | 46,966 | 6,431,524 |
Lincoln Electric Holdings, Inc. | 23,300 | 1,533,839 |
Lockheed Martin Corp. | 55,284 | 13,620,872 |
Northrop Grumman Corp. | 61,633 | 14,113,957 |
NOW, Inc. * | 67,400 | 1,453,144 |
Oshkosh Corp. | 43,220 | 2,312,270 |
Owens Corning | 36,350 | 1,773,153 |
PACCAR, Inc. | 98,621 | 5,416,265 |
Parker-Hannifin Corp. | 46,897 | 5,756,607 |
Pentair plc | 39,837 | 2,196,214 |
Quanta Services, Inc. * | 85,200 | 2,449,500 |
Raytheon Co. | 87,715 | 11,982,746 |
Rockwell Automation, Inc. | 25,050 | 2,998,986 |
Rockwell Collins, Inc. | 29,530 | 2,489,970 |
Roper Technologies, Inc. | 9,000 | 1,559,790 |
Snap-on, Inc. | 9,100 | 1,402,310 |
Stanley Black & Decker, Inc. | 31,203 | 3,552,149 |
Terex Corp. | 49,100 | 1,172,508 |
Textron, Inc. | 68,420 | 2,742,274 |
The Boeing Co. | 119,372 | 17,002,154 |
The Timken Co. | 39,265 | 1,297,708 |
TransDigm Group, Inc. | 7,300 | 1,988,958 |
Trinity Industries, Inc. | 63,300 | 1,351,455 |
Triumph Group, Inc. | 27,800 | 658,860 |
United Rentals, Inc. * | 25,200 | 1,906,632 |
United Technologies Corp. | 248,092 | 25,355,002 |
Valmont Industries, Inc. | 9,000 | 1,151,550 |
W.W. Grainger, Inc. | 19,838 | 4,128,685 |
WABCO Holdings, Inc. * | 9,800 | 964,908 |
Security | Number of Shares | Value ($) |
WESCO International, Inc. * | 23,800 | 1,289,960 |
Xylem, Inc. | 32,955 | 1,592,715 |
374,146,362 | ||
Commercial & Professional Supplies 0.6% | ||
Cintas Corp. | 17,550 | 1,872,059 |
Equifax, Inc. | 12,230 | 1,516,153 |
LSC Communications, Inc. * | 13,617 | 330,076 |
ManpowerGroup, Inc. | 48,190 | 3,700,992 |
Nielsen Holdings plc | 43,200 | 1,944,864 |
Pitney Bowes, Inc. | 84,119 | 1,500,683 |
Republic Services, Inc. | 71,363 | 3,755,835 |
Robert Half International, Inc. | 40,810 | 1,527,110 |
RR Donnelley & Sons Co. | 36,313 | 644,556 |
The Dun & Bradstreet Corp. | 11,240 | 1,403,314 |
Verisk Analytics, Inc. * | 16,000 | 1,304,800 |
Waste Management, Inc. | 116,114 | 7,624,045 |
27,124,487 | ||
Consumer Durables & Apparel 1.1% | ||
Coach, Inc. | 127,275 | 4,567,900 |
D.R. Horton, Inc. | 35,700 | 1,029,231 |
Fossil Group, Inc. * | 47,400 | 1,292,598 |
Garmin Ltd. | 37,870 | 1,831,393 |
Hanesbrands, Inc. | 37,300 | 958,610 |
Harman International Industries, Inc. | 11,900 | 948,549 |
Hasbro, Inc. | 25,341 | 2,113,693 |
Leggett & Platt, Inc. | 34,017 | 1,560,700 |
Mattel, Inc. | 127,735 | 4,027,485 |
Michael Kors Holdings Ltd. * | 25,300 | 1,284,734 |
Mohawk Industries, Inc. * | 8,835 | 1,628,290 |
Newell Brands, Inc. | 47,603 | 2,285,896 |
NIKE, Inc., Class B | 199,454 | 10,008,602 |
NVR, Inc. * | 1,129 | 1,719,467 |
Polaris Industries, Inc. (a) | 16,800 | 1,287,048 |
PulteGroup, Inc. | 67,300 | 1,251,780 |
PVH Corp. | 17,600 | 1,882,848 |
Ralph Lauren Corp. | 29,720 | 2,915,532 |
Tupperware Brands Corp. | 21,158 | 1,259,324 |
VF Corp. | 63,780 | 3,457,514 |
Whirlpool Corp. | 24,355 | 3,648,866 |
50,960,060 | ||
Consumer Services 1.7% | ||
Apollo Education Group, Inc. * | 251,850 | 2,213,762 |
Aramark | 42,600 | 1,585,998 |
Brinker International, Inc. | 22,255 | 1,095,836 |
Carnival Corp. | 104,410 | 5,126,531 |
Chipotle Mexican Grill, Inc. * | 2,787 | 1,005,438 |
Darden Restaurants, Inc. | 35,462 | 2,297,583 |
DeVry Education Group, Inc. | 53,700 | 1,218,990 |
H&R Block, Inc. | 68,365 | 1,570,344 |
Hilton Worldwide Holdings, Inc. | 48,700 | 1,100,620 |
International Game Technology plc | 26,800 | 769,696 |
Las Vegas Sands Corp. | 71,500 | 4,138,420 |
Marriott International, Inc., Class A | 61,625 | 4,233,637 |
McDonald's Corp. | 231,388 | 26,047,347 |
MGM Resorts International * | 75,315 | 1,970,994 |
Royal Caribbean Cruises Ltd. | 30,229 | 2,323,703 |
Service Corp. International | 40,500 | 1,036,800 |
Starbucks Corp. | 105,780 | 5,613,745 |
Wyndham Worldwide Corp. | 41,440 | 2,728,410 |
Security | Number of Shares | Value ($) |
Wynn Resorts Ltd. | 33,004 | 3,120,528 |
Yum! Brands, Inc. | 78,130 | 6,741,056 |
75,939,438 | ||
Diversified Financials 4.2% | ||
AGNC Investment Corp. | 78,900 | 1,582,734 |
Ally Financial, Inc. | 277,900 | 5,021,653 |
American Express Co. | 247,017 | 16,406,869 |
Ameriprise Financial, Inc. | 50,434 | 4,457,861 |
Annaly Capital Management, Inc. | 364,161 | 3,772,708 |
Berkshire Hathaway, Inc., Class B * | 302,226 | 43,611,212 |
BlackRock, Inc. | 15,300 | 5,220,972 |
Capital One Financial Corp. | 158,432 | 11,730,305 |
CME Group, Inc. | 39,600 | 3,963,960 |
Discover Financial Services | 116,922 | 6,586,216 |
Donnelley Financial Solutions, Inc. * | 13,617 | 292,085 |
FNFV Group * | 58,400 | 703,720 |
Franklin Resources, Inc. | 127,209 | 4,281,855 |
Intercontinental Exchange, Inc. | 3,600 | 973,404 |
Invesco Ltd. | 87,200 | 2,449,448 |
Legg Mason, Inc. | 60,720 | 1,743,878 |
Leucadia National Corp. | 76,600 | 1,430,122 |
Moody's Corp. | 20,770 | 2,087,800 |
Morgan Stanley | 188,183 | 6,317,303 |
Nasdaq, Inc. | 20,283 | 1,297,504 |
Navient Corp. | 123,100 | 1,573,218 |
Northern Trust Corp. | 32,310 | 2,339,890 |
S&P Global, Inc. | 36,968 | 4,504,551 |
SLM Corp. * | 365,500 | 2,576,775 |
State Street Corp. | 81,336 | 5,710,601 |
Synchrony Financial | 121,000 | 3,459,390 |
T. Rowe Price Group, Inc. | 49,345 | 3,158,574 |
TD Ameritrade Holding Corp. | 33,100 | 1,132,351 |
The Bank of New York Mellon Corp. | 158,649 | 6,864,742 |
The Charles Schwab Corp. (b) | 72,715 | 2,305,066 |
The Goldman Sachs Group, Inc. | 149,309 | 26,612,836 |
Thomson Reuters Corp. | 94,257 | 3,714,668 |
Voya Financial, Inc. | 52,100 | 1,591,655 |
189,475,926 | ||
Energy 14.8% | ||
Anadarko Petroleum Corp. | 156,379 | 9,295,168 |
Apache Corp. | 208,568 | 12,405,625 |
Baker Hughes, Inc. | 183,386 | 10,159,584 |
Cabot Oil & Gas Corp. | 45,800 | 956,304 |
California Resources Corp. *(a) | 134,563 | 1,380,616 |
Chesapeake Energy Corp. * | 818,826 | 4,511,731 |
Chevron Corp. | 1,208,112 | 126,549,732 |
Cimarex Energy Co. | 11,245 | 1,452,067 |
Concho Resources, Inc. * | 9,800 | 1,244,012 |
ConocoPhillips | 1,056,282 | 45,895,453 |
CONSOL Energy, Inc. | 174,535 | 2,958,368 |
Delek US Holdings, Inc. | 68,500 | 1,157,650 |
Denbury Resources, Inc. * | 574,000 | 1,371,860 |
Devon Energy Corp. | 240,527 | 9,113,568 |
Diamond Offshore Drilling, Inc. | 83,920 | 1,383,841 |
Energen Corp. | 27,110 | 1,359,024 |
Ensco plc, Class A | 279,100 | 2,182,562 |
EOG Resources, Inc. | 85,401 | 7,721,958 |
EQT Corp. | 21,600 | 1,425,600 |
Exxon Mobil Corp. | 2,298,181 | 191,484,441 |
FMC Technologies, Inc. * | 63,378 | 2,045,208 |
Halliburton Co. | 309,170 | 14,221,820 |
Helmerich & Payne, Inc. | 30,595 | 1,930,850 |
Hess Corp. | 240,204 | 11,522,586 |
HollyFrontier Corp. | 187,202 | 4,670,690 |
Security | Number of Shares | Value ($) |
Kinder Morgan, Inc. | 380,600 | 7,775,658 |
Marathon Oil Corp. | 781,219 | 10,296,466 |
Marathon Petroleum Corp. | 433,962 | 18,916,404 |
Murphy Oil Corp. | 225,950 | 5,845,327 |
Nabors Industries Ltd. | 274,600 | 3,267,740 |
National Oilwell Varco, Inc. | 238,101 | 7,643,042 |
Newfield Exploration Co. * | 33,407 | 1,355,990 |
Noble Corp. plc | 265,500 | 1,311,570 |
Noble Energy, Inc. | 89,470 | 3,084,031 |
Occidental Petroleum Corp. | 286,500 | 20,888,715 |
Oceaneering International, Inc. | 48,400 | 1,151,920 |
ONEOK, Inc. | 72,020 | 3,487,929 |
Patterson-UTI Energy, Inc. | 84,600 | 1,901,808 |
PBF Energy, Inc., Class A | 44,700 | 974,460 |
Phillips 66 | 347,008 | 28,159,699 |
Pioneer Natural Resources Co. | 11,600 | 2,076,632 |
QEP Resources, Inc. | 111,042 | 1,784,445 |
Schlumberger Ltd. | 341,110 | 26,685,035 |
Seadrill Ltd. *(a) | 1,313,200 | 2,797,116 |
SM Energy Co. | 40,500 | 1,362,015 |
Southwestern Energy Co. * | 169,240 | 1,758,404 |
Spectra Energy Corp. | 161,660 | 6,759,005 |
Superior Energy Services, Inc. | 99,000 | 1,401,840 |
Tesoro Corp. | 58,592 | 4,978,562 |
The Williams Cos., Inc. | 181,509 | 5,300,063 |
Transocean Ltd. * | 438,200 | 4,211,102 |
Valero Energy Corp. | 389,366 | 23,066,042 |
Weatherford International plc * | 573,000 | 2,761,860 |
Western Refining, Inc. | 37,000 | 1,067,450 |
Whiting Petroleum Corp. * | 148,300 | 1,221,992 |
World Fuel Services Corp. | 107,400 | 4,322,850 |
676,015,490 | ||
Food & Staples Retailing 3.8% | ||
Casey's General Stores, Inc. | 12,712 | 1,436,329 |
Costco Wholesale Corp. | 132,063 | 19,528,156 |
CVS Health Corp. | 435,016 | 36,584,845 |
Sysco Corp. | 224,039 | 10,780,757 |
The Kroger Co. | 371,268 | 11,501,883 |
United Natural Foods, Inc. * | 36,700 | 1,531,858 |
Wal-Mart Stores, Inc. | 990,172 | 69,331,843 |
Walgreens Boots Alliance, Inc. | 235,582 | 19,489,699 |
Whole Foods Market, Inc. | 147,300 | 4,167,117 |
174,352,487 | ||
Food, Beverage & Tobacco 5.0% | ||
Altria Group, Inc. | 294,616 | 19,480,010 |
Archer-Daniels-Midland Co. | 448,874 | 19,557,440 |
Brown-Forman Corp., Class B | 41,954 | 1,937,016 |
Bunge Ltd. | 161,736 | 10,029,249 |
Campbell Soup Co. | 29,830 | 1,620,962 |
ConAgra Foods, Inc. | 100,120 | 4,823,782 |
Constellation Brands, Inc., Class A | 10,920 | 1,824,950 |
Dr Pepper Snapple Group, Inc. | 43,641 | 3,831,243 |
General Mills, Inc. | 149,018 | 9,236,136 |
Hormel Foods Corp. | 44,678 | 1,720,103 |
Ingredion, Inc. | 17,800 | 2,334,826 |
Kellogg Co. | 56,637 | 4,255,138 |
McCormick & Co., Inc. - Non Voting Shares | 19,978 | 1,915,291 |
Mead Johnson Nutrition Co. | 21,100 | 1,577,647 |
Molson Coors Brewing Co., Class B | 19,580 | 2,032,600 |
Mondelez International, Inc., Class A | 321,595 | 14,452,479 |
Monster Beverage Corp. * | 7,500 | 1,082,550 |
PepsiCo, Inc. | 317,163 | 33,999,874 |
Philip Morris International, Inc. | 393,288 | 37,928,695 |
Security | Number of Shares | Value ($) |
Reynolds American, Inc. | 99,910 | 5,503,043 |
The Coca-Cola Co. | 749,343 | 31,772,143 |
The Hershey Co. | 22,412 | 2,296,333 |
The JM Smucker Co. | 27,025 | 3,548,653 |
The Kraft Heinz Co. | 50,674 | 4,507,452 |
Tyson Foods, Inc., Class A | 101,415 | 7,185,253 |
228,452,868 | ||
Health Care Equipment & Services 5.2% | ||
Abbott Laboratories | 284,963 | 11,181,948 |
Aetna, Inc. | 108,691 | 11,667,979 |
AmerisourceBergen Corp. | 60,967 | 4,287,200 |
Anthem, Inc. | 179,250 | 21,843,405 |
Baxter International, Inc. | 176,253 | 8,387,880 |
Becton, Dickinson & Co. | 40,762 | 6,844,347 |
Boston Scientific Corp. * | 109,465 | 2,408,230 |
C.R. Bard, Inc. | 14,300 | 3,098,524 |
Cardinal Health, Inc. | 153,267 | 10,527,910 |
Centene Corp. * | 34,620 | 2,163,058 |
Cerner Corp. * | 20,100 | 1,177,458 |
Cigna Corp. | 33,809 | 4,017,524 |
Community Health Systems, Inc. * | 148,062 | 781,767 |
Danaher Corp. | 65,956 | 5,180,844 |
DaVita, Inc. * | 31,920 | 1,871,150 |
DENTSPLY SIRONA, Inc. | 23,335 | 1,343,396 |
Edwards Lifesciences Corp. * | 9,200 | 876,024 |
Express Scripts Holding Co. * | 249,307 | 16,803,292 |
HCA Holdings, Inc. * | 118,874 | 9,097,427 |
Henry Schein, Inc. * | 16,852 | 2,514,318 |
Humana, Inc. | 57,470 | 9,857,829 |
IDEXX Laboratories, Inc. * | 11,100 | 1,189,254 |
Intuitive Surgical, Inc. * | 3,379 | 2,270,958 |
Laboratory Corp. of America Holdings * | 16,399 | 2,055,451 |
LifePoint Health, Inc. * | 17,830 | 1,067,126 |
Magellan Health, Inc. * | 20,100 | 1,034,145 |
McKesson Corp. | 81,317 | 10,341,083 |
MEDNAX, Inc. * | 13,500 | 826,875 |
Medtronic plc | 180,036 | 14,766,553 |
Owens & Minor, Inc. | 48,902 | 1,586,870 |
Patterson Cos., Inc. | 28,975 | 1,237,522 |
Quest Diagnostics, Inc. | 60,152 | 4,898,779 |
ResMed, Inc. | 19,600 | 1,171,492 |
St. Jude Medical, Inc. | 63,860 | 4,970,862 |
Stryker Corp. | 45,318 | 5,227,431 |
Tenet Healthcare Corp. * | 57,293 | 1,129,245 |
UnitedHealth Group, Inc. | 266,496 | 37,663,880 |
Universal Health Services, Inc., Class B | 15,448 | 1,864,728 |
Varian Medical Systems, Inc. * | 22,503 | 2,041,697 |
WellCare Health Plans, Inc. * | 15,100 | 1,714,001 |
Zimmer Biomet Holdings, Inc. | 36,924 | 3,891,790 |
236,881,252 | ||
Household & Personal Products 2.1% | ||
Avon Products, Inc. | 531,925 | 3,484,109 |
Church & Dwight Co., Inc. | 36,600 | 1,766,316 |
Colgate-Palmolive Co. | 164,468 | 11,736,437 |
Herbalife Ltd. * | 29,000 | 1,759,720 |
Kimberly-Clark Corp. | 67,201 | 7,688,466 |
Nu Skin Enterprises, Inc. | 25,500 | 1,572,075 |
The Clorox Co. | 19,220 | 2,306,784 |
The Estee Lauder Cos., Inc., Class A | 26,034 | 2,268,342 |
The Procter & Gamble Co. | 722,535 | 62,716,038 |
95,298,287 | ||
Security | Number of Shares | Value ($) |
Insurance 3.5% | ||
Aflac, Inc. | 112,198 | 7,727,076 |
Alleghany Corp. * | 2,500 | 1,290,525 |
American Financial Group, Inc. | 20,640 | 1,537,680 |
American International Group, Inc. | 459,142 | 28,329,061 |
Aon plc | 43,936 | 4,869,427 |
Arch Capital Group Ltd. * | 25,575 | 1,994,083 |
Arthur J. Gallagher & Co. | 25,800 | 1,244,334 |
Assurant, Inc. | 32,355 | 2,605,225 |
Assured Guaranty Ltd. | 42,200 | 1,261,358 |
Axis Capital Holdings Ltd. | 38,750 | 2,207,588 |
Chubb Ltd. | 86,238 | 10,952,226 |
Cincinnati Financial Corp. | 27,180 | 1,923,800 |
CNO Financial Group, Inc. | 59,000 | 889,720 |
Everest Re Group Ltd. | 14,025 | 2,854,368 |
First American Financial Corp. | 27,200 | 1,062,432 |
FNF Group | 61,884 | 2,222,254 |
Genworth Financial, Inc., Class A * | 494,100 | 2,045,574 |
Lincoln National Corp. | 58,380 | 2,865,874 |
Loews Corp. | 121,289 | 5,219,066 |
Marsh & McLennan Cos., Inc. | 85,820 | 5,440,130 |
MetLife, Inc. | 192,518 | 9,040,645 |
Principal Financial Group, Inc. | 53,371 | 2,914,057 |
Prudential Financial, Inc. | 86,137 | 7,303,556 |
Reinsurance Group of America, Inc. | 19,200 | 2,070,912 |
RenaissanceRe Holdings Ltd. | 16,225 | 2,016,605 |
The Allstate Corp. | 120,743 | 8,198,450 |
The Hartford Financial Services Group, Inc. | 127,227 | 5,611,983 |
The Progressive Corp. | 191,245 | 6,026,130 |
The Travelers Cos., Inc. | 179,872 | 19,458,553 |
Torchmark Corp. | 31,065 | 1,969,832 |
Unum Group | 78,825 | 2,790,405 |
W. R. Berkley Corp. | 27,663 | 1,579,557 |
White Mountains Insurance Group Ltd. | 1,729 | 1,434,586 |
XL Group Ltd. | 66,585 | 2,310,499 |
161,267,571 | ||
Materials 3.8% | ||
AdvanSix, Inc. * | 4,837 | 77,199 |
Air Products & Chemicals, Inc. | 34,585 | 4,614,331 |
Albemarle Corp. | 23,985 | 2,003,947 |
Allegheny Technologies, Inc. | 89,611 | 1,222,294 |
AptarGroup, Inc. | 15,600 | 1,114,464 |
Ashland Global Holdings, Inc. | 19,635 | 2,193,819 |
Avery Dennison Corp. | 24,500 | 1,709,855 |
Ball Corp. | 55,180 | 4,252,723 |
Bemis Co., Inc. | 37,038 | 1,804,491 |
Cabot Corp. | 20,800 | 1,084,512 |
Celanese Corp., Series A | 25,000 | 1,823,000 |
CF Industries Holdings, Inc. | 118,355 | 2,841,704 |
Commercial Metals Co. | 95,545 | 1,501,012 |
Domtar Corp. | 66,982 | 2,408,003 |
E.I. du Pont de Nemours & Co. | 184,586 | 12,697,671 |
Eastman Chemical Co. | 42,920 | 3,086,377 |
Ecolab, Inc. | 28,391 | 3,241,400 |
FMC Corp. | 33,880 | 1,588,633 |
Freeport-McMoRan, Inc. * | 1,522,540 | 17,021,997 |
Graphic Packaging Holding Co. | 88,600 | 1,107,500 |
Huntsman Corp. | 134,815 | 2,285,114 |
International Flavors & Fragrances, Inc. | 9,535 | 1,246,987 |
International Paper Co. | 156,293 | 7,037,874 |
LyondellBasell Industries N.V., Class A | 170,680 | 13,577,594 |
Monsanto Co. | 107,269 | 10,809,497 |
Newmont Mining Corp. | 196,011 | 7,260,247 |
Nucor Corp. | 135,516 | 6,619,957 |
Security | Number of Shares | Value ($) |
Owens-Illinois, Inc. * | 98,945 | 1,909,638 |
Packaging Corp. of America | 18,021 | 1,486,732 |
PPG Industries, Inc. | 54,200 | 5,047,646 |
Praxair, Inc. | 68,795 | 8,053,143 |
Reliance Steel & Aluminum Co. | 37,320 | 2,566,870 |
RPM International, Inc. | 25,765 | 1,224,868 |
Sealed Air Corp. | 21,300 | 971,919 |
Sonoco Products Co. | 30,555 | 1,536,611 |
Steel Dynamics, Inc. | 93,150 | 2,557,899 |
The Chemours Co. | 131,300 | 2,157,259 |
The Dow Chemical Co. | 298,168 | 16,044,420 |
The Mosaic Co. | 246,031 | 5,789,109 |
The Sherwin-Williams Co. | 7,465 | 1,827,880 |
The Valspar Corp. | 16,350 | 1,628,460 |
United States Steel Corp. | 166,104 | 3,212,451 |
Vulcan Materials Co. | 9,823 | 1,111,964 |
WestRock Co. | 43,007 | 1,986,493 |
175,345,564 | ||
Media 3.1% | ||
CBS Corp., Class B - Non Voting Shares | 149,921 | 8,488,527 |
Charter Communications, Inc., Class A * | 36,106 | 9,022,528 |
Comcast Corp., Class A | 437,457 | 27,043,592 |
Discovery Communications, Inc., Class A * | 63,741 | 1,664,277 |
Discovery Communications, Inc., Class C * | 103,967 | 2,610,611 |
DISH Network Corp., Class A * | 34,935 | 2,045,793 |
News Corp., Class A | 146,300 | 1,773,156 |
News Corp., Class B | 35,700 | 442,680 |
Omnicom Group, Inc. | 66,213 | 5,285,122 |
Scripps Networks Interactive, Inc., Class A | 26,000 | 1,673,360 |
TEGNA, Inc. | 70,030 | 1,373,989 |
The Interpublic Group of Cos., Inc. | 80,605 | 1,804,746 |
The Walt Disney Co. | 281,962 | 26,135,058 |
Time Warner, Inc. | 351,933 | 31,318,518 |
Time, Inc. | 97,500 | 1,267,500 |
Twenty-First Century Fox, Inc., Class A | 290,421 | 7,629,360 |
Twenty-First Century Fox, Inc., Class B | 108,200 | 2,855,398 |
Viacom, Inc., Class B | 265,498 | 9,972,105 |
142,406,320 | ||
Pharmaceuticals, Biotechnology & Life Sciences 5.2% | ||
AbbVie, Inc. | 154,122 | 8,596,925 |
Agilent Technologies, Inc. | 52,436 | 2,284,637 |
Allergan plc * | 7,240 | 1,512,726 |
Amgen, Inc. | 128,023 | 18,071,727 |
Biogen, Inc. * | 16,150 | 4,524,907 |
Bristol-Myers Squibb Co. | 218,061 | 11,101,485 |
Celgene Corp. * | 59,656 | 6,095,650 |
Eli Lilly & Co. | 185,981 | 13,732,837 |
Gilead Sciences, Inc. | 133,987 | 9,865,463 |
Johnson & Johnson | 471,707 | 54,713,295 |
Merck & Co., Inc. | 663,562 | 38,964,361 |
Mettler-Toledo International, Inc. * | 3,700 | 1,495,096 |
Mylan N.V. * | 67,375 | 2,459,187 |
Perrigo Co., plc | 12,400 | 1,031,556 |
Pfizer, Inc. | 1,733,504 | 54,969,412 |
Thermo Fisher Scientific, Inc. | 35,545 | 5,226,181 |
Waters Corp. * | 11,300 | 1,572,282 |
Zoetis, Inc. | 31,800 | 1,520,040 |
237,737,767 | ||
Real Estate 1.2% | ||
American Tower Corp. | 23,965 | 2,808,458 |
AvalonBay Communities, Inc. | 9,099 | 1,557,567 |
Boston Properties, Inc. | 16,490 | 1,986,715 |
Security | Number of Shares | Value ($) |
CBRE Group, Inc., Class A * | 34,200 | 880,992 |
Corrections Corp. of America | 57,000 | 823,650 |
Crown Castle International Corp. | 17,680 | 1,608,703 |
Digital Realty Trust, Inc. | 17,600 | 1,644,368 |
Duke Realty Corp. | 41,700 | 1,090,455 |
Equity Residential | 36,145 | 2,231,954 |
General Growth Properties, Inc. | 59,900 | 1,494,505 |
HCP, Inc. | 78,365 | 2,684,001 |
Hospitality Properties Trust | 50,161 | 1,372,405 |
Host Hotels & Resorts, Inc. | 161,478 | 2,499,679 |
Iron Mountain, Inc. | 80,079 | 2,701,065 |
Jones Lang LaSalle, Inc. | 8,300 | 803,855 |
Kimco Realty Corp. | 44,160 | 1,175,098 |
Prologis, Inc. | 44,100 | 2,300,256 |
Public Storage | 10,130 | 2,164,984 |
Simon Property Group, Inc. | 26,711 | 4,967,177 |
SL Green Realty Corp. | 8,200 | 805,404 |
The Macerich Co. | 14,997 | 1,061,488 |
Ventas, Inc. | 42,378 | 2,871,109 |
Vornado Realty Trust | 26,441 | 2,453,196 |
Welltower, Inc. | 36,800 | 2,521,904 |
Weyerhaeuser Co. | 188,574 | 5,644,020 |
52,153,008 | ||
Retailing 4.6% | ||
Abercrombie & Fitch Co., Class A | 80,978 | 1,183,089 |
Advance Auto Parts, Inc. | 9,845 | 1,379,088 |
Amazon.com, Inc. * | 9,450 | 7,463,799 |
American Eagle Outfitters, Inc. | 113,435 | 1,932,932 |
AutoNation, Inc. * | 35,000 | 1,535,450 |
AutoZone, Inc. * | 2,621 | 1,945,201 |
Bed Bath & Beyond, Inc. | 132,805 | 5,367,978 |
Best Buy Co., Inc. | 218,376 | 8,497,010 |
Big Lots, Inc. | 42,265 | 1,834,301 |
CarMax, Inc. * | 41,507 | 2,072,860 |
Chico's FAS, Inc. | 96,700 | 1,128,489 |
Core-Mark Holding Co., Inc. | 41,330 | 1,461,016 |
CST Brands, Inc. | 53,000 | 2,545,060 |
Dick's Sporting Goods, Inc. | 34,000 | 1,892,100 |
Dillard's, Inc., Class A | 24,075 | 1,475,798 |
Dollar General Corp. | 73,400 | 5,071,206 |
Dollar Tree, Inc. * | 43,881 | 3,315,210 |
Expedia, Inc. | 12,565 | 1,623,775 |
Foot Locker, Inc. | 44,295 | 2,957,577 |
GameStop Corp., Class A | 115,890 | 2,787,154 |
Genuine Parts Co. | 44,500 | 4,031,255 |
GNC Holdings, Inc., Class A | 46,400 | 623,152 |
Guess?, Inc. | 64,800 | 874,800 |
J.C. Penney Co., Inc. * | 216,310 | 1,858,103 |
Kohl's Corp. | 210,745 | 9,220,094 |
L Brands, Inc. | 49,920 | 3,603,725 |
Liberty Interactive Corp., QVC Group, Class A * | 141,425 | 2,614,948 |
LKQ Corp. * | 41,200 | 1,329,936 |
Lowe's Cos., Inc. | 299,345 | 19,951,344 |
Macy's, Inc. | 183,636 | 6,700,878 |
Murphy USA, Inc. * | 47,100 | 3,239,538 |
Nordstrom, Inc. (a) | 64,655 | 3,362,060 |
O'Reilly Automotive, Inc. * | 13,230 | 3,498,541 |
Office Depot, Inc. | 301,700 | 950,355 |
Ross Stores, Inc. | 58,080 | 3,632,323 |
Signet Jewelers Ltd. (a) | 17,200 | 1,397,672 |
Staples, Inc. | 843,856 | 6,244,534 |
Target Corp. | 305,383 | 20,988,974 |
The Gap, Inc. | 207,475 | 5,724,235 |
The Home Depot, Inc. | 262,743 | 32,057,273 |
The Priceline Group, Inc. * | 2,784 | 4,104,256 |
Security | Number of Shares | Value ($) |
The TJX Cos., Inc. | 147,488 | 10,877,240 |
Tiffany & Co. | 24,935 | 1,830,728 |
Tractor Supply Co. | 23,300 | 1,459,279 |
Urban Outfitters, Inc. * | 45,254 | 1,513,746 |
Williams-Sonoma, Inc. | 32,245 | 1,490,364 |
210,648,446 | ||
Semiconductors & Semiconductor Equipment 2.9% | ||
Analog Devices, Inc. | 44,965 | 2,882,257 |
Applied Materials, Inc. | 243,026 | 7,067,196 |
Broadcom Ltd. | 16,488 | 2,807,577 |
Intel Corp. | 1,651,276 | 57,579,994 |
KLA-Tencor Corp. | 33,480 | 2,514,683 |
Lam Research Corp. | 26,490 | 2,565,821 |
Linear Technology Corp. | 31,455 | 1,889,187 |
Marvell Technology Group Ltd. | 254,330 | 3,313,920 |
Maxim Integrated Products, Inc. | 64,500 | 2,556,135 |
Microchip Technology, Inc. | 31,280 | 1,894,004 |
Micron Technology, Inc. * | 304,912 | 5,232,290 |
NVIDIA Corp. | 49,337 | 3,510,821 |
QUALCOMM, Inc. | 311,755 | 21,423,804 |
Skyworks Solutions, Inc. | 11,900 | 915,586 |
Texas Instruments, Inc. | 212,309 | 15,042,093 |
Versum Materials, Inc. * | 17,292 | 392,528 |
Xilinx, Inc. | 46,920 | 2,386,820 |
133,974,716 | ||
Software & Services 7.2% | ||
Accenture plc, Class A | 113,265 | 13,165,924 |
Activision Blizzard, Inc. | 119,100 | 5,141,547 |
Adobe Systems, Inc. * | 27,107 | 2,914,273 |
Akamai Technologies, Inc. * | 22,200 | 1,542,234 |
Alliance Data Systems Corp. * | 7,280 | 1,488,542 |
Alphabet, Inc., Class A * | 16,189 | 13,111,471 |
Alphabet, Inc., Class C * | 16,174 | 12,689,150 |
Amdocs Ltd. | 41,600 | 2,431,520 |
Autodesk, Inc. * | 18,100 | 1,308,268 |
Automatic Data Processing, Inc. | 60,319 | 5,251,372 |
Booz Allen Hamilton Holding Corp. | 36,100 | 1,099,967 |
Broadridge Financial Solutions, Inc. | 22,700 | 1,467,782 |
CA, Inc. | 100,305 | 3,083,376 |
CACI International, Inc., Class A * | 11,124 | 1,088,483 |
Citrix Systems, Inc. * | 23,563 | 1,998,142 |
Cognizant Technology Solutions Corp., Class A * | 60,800 | 3,122,080 |
Computer Sciences Corp. | 69,045 | 3,759,500 |
CSRA, Inc. | 28,100 | 705,029 |
Dell Technologies, Inc., Class V * | 12,974 | 636,894 |
eBay, Inc. * | 205,927 | 5,870,979 |
Electronic Arts, Inc. * | 17,908 | 1,406,136 |
Facebook, Inc., Class A * | 26,800 | 3,510,532 |
Fidelity National Information Services, Inc. | 65,123 | 4,813,892 |
Fiserv, Inc. * | 32,438 | 3,194,494 |
Global Payments, Inc. | 17,300 | 1,254,596 |
IAC/InterActiveCorp | 25,962 | 1,672,991 |
International Business Machines Corp. | 439,901 | 67,608,385 |
Intuit, Inc. | 36,822 | 4,004,024 |
Leidos Holdings, Inc. | 37,300 | 1,550,561 |
MasterCard, Inc., Class A | 82,438 | 8,822,515 |
Microsoft Corp. | 1,400,628 | 83,925,630 |
Oracle Corp. | 737,644 | 28,340,282 |
Paychex, Inc. | 40,659 | 2,244,377 |
PayPal Holdings, Inc. * | 29,900 | 1,245,634 |
Symantec Corp. | 243,045 | 6,083,416 |
Teradata Corp. * | 57,600 | 1,552,896 |
Security | Number of Shares | Value ($) |
The Western Union Co. | 194,810 | 3,909,837 |
Total System Services, Inc. | 22,470 | 1,120,804 |
Visa, Inc., Class A | 150,512 | 12,418,745 |
Xerox Corp. | 648,726 | 6,338,053 |
Yahoo! Inc. * | 82,005 | 3,407,308 |
330,301,641 | ||
Technology Hardware & Equipment 5.3% | ||
Amphenol Corp., Class A | 40,200 | 2,650,386 |
Anixter International, Inc. * | 20,320 | 1,336,040 |
Apple, Inc. | 868,757 | 98,638,670 |
Arrow Electronics, Inc. * | 65,725 | 4,017,112 |
Avnet, Inc. | 109,100 | 4,576,745 |
Brocade Communications Systems, Inc. | 110,900 | 1,175,540 |
CDW Corp. | 19,300 | 866,763 |
Cisco Systems, Inc. | 1,198,451 | 36,768,477 |
Corning, Inc. | 376,171 | 8,542,843 |
F5 Networks, Inc. * | 10,300 | 1,423,563 |
FLIR Systems, Inc. | 39,700 | 1,306,924 |
Harris Corp. | 34,768 | 3,101,653 |
Hewlett Packard Enterprise Co. | 345,700 | 7,767,879 |
HP, Inc. | 2,087,791 | 30,252,092 |
Ingram Micro, Inc., Class A | 151,751 | 5,645,137 |
Jabil Circuit, Inc. | 124,995 | 2,667,393 |
Juniper Networks, Inc. | 126,570 | 3,333,854 |
Keysight Technologies, Inc. * | 44,200 | 1,449,760 |
Lexmark International, Inc., Class A | 42,645 | 1,692,580 |
Motorola Solutions, Inc. | 79,472 | 5,768,078 |
NCR Corp. * | 36,900 | 1,293,345 |
NetApp, Inc. | 99,730 | 3,384,836 |
Sanmina Corp. * | 40,600 | 1,122,590 |
SYNNEX Corp. | 13,495 | 1,383,777 |
Tech Data Corp. * | 49,940 | 3,846,379 |
Vishay Intertechnology, Inc. | 97,740 | 1,378,134 |
Western Digital Corp. | 111,005 | 6,487,132 |
241,877,682 | ||
Telecommunication Services 3.6% | ||
AT&T, Inc. | 2,461,954 | 90,575,287 |
CenturyLink, Inc. | 415,107 | 11,033,544 |
Frontier Communications Corp. | 742,398 | 2,984,440 |
Level 3 Communications, Inc. * | 22,300 | 1,252,145 |
T-Mobile US, Inc. * | 28,300 | 1,407,359 |
Telephone & Data Systems, Inc. | 65,727 | 1,698,386 |
Verizon Communications, Inc. | 1,110,949 | 53,436,647 |
162,387,808 | ||
Transportation 1.9% | ||
Alaska Air Group, Inc. | 17,900 | 1,292,738 |
American Airlines Group, Inc. | 53,800 | 2,184,280 |
Avis Budget Group, Inc. * | 70,490 | 2,281,056 |
C.H. Robinson Worldwide, Inc. | 51,744 | 3,524,801 |
CSX Corp. | 346,733 | 10,578,824 |
Delta Air Lines, Inc. | 35,500 | 1,482,835 |
Expeditors International of Washington, Inc. | 60,825 | 3,130,663 |
FedEx Corp. | 103,133 | 17,978,145 |
Hertz Global Holdings, Inc. * | 13,860 | 459,459 |
JB Hunt Transport Services, Inc. | 16,245 | 1,325,755 |
JetBlue Airways Corp. * | 59,800 | 1,045,304 |
Kansas City Southern | 13,687 | 1,201,171 |
Norfolk Southern Corp. | 82,579 | 7,679,847 |
Ryder System, Inc. | 30,120 | 2,090,027 |
Southwest Airlines Co. | 24,300 | 973,215 |
Security | Number of Shares | Value ($) |
Union Pacific Corp. | 213,335 | 18,811,880 |
United Parcel Service, Inc., Class B | 115,241 | 12,418,370 |
88,458,370 | ||
Utilities 4.2% | ||
AES Corp. | 477,140 | 5,615,938 |
Alliant Energy Corp. | 54,150 | 2,060,408 |
Ameren Corp. | 79,290 | 3,960,536 |
American Electric Power Co., Inc. | 136,801 | 8,870,177 |
American Water Works Co., Inc. | 28,000 | 2,073,120 |
Atmos Energy Corp. | 23,160 | 1,722,872 |
Calpine Corp. * | 226,250 | 2,692,375 |
CenterPoint Energy, Inc. | 176,470 | 4,023,516 |
CMS Energy Corp. | 71,005 | 2,992,861 |
Consolidated Edison, Inc. | 90,002 | 6,799,651 |
Dominion Resources, Inc. | 129,880 | 9,766,976 |
DTE Energy Co. | 53,130 | 5,101,011 |
Duke Energy Corp. | 170,777 | 13,665,576 |
Edison International | 83,676 | 6,148,512 |
Entergy Corp. | 92,570 | 6,820,558 |
Eversource Energy | 62,915 | 3,464,100 |
Exelon Corp. | 417,373 | 14,219,898 |
FirstEnergy Corp. | 213,365 | 7,316,286 |
Great Plains Energy, Inc. | 49,870 | 1,418,303 |
MDU Resources Group, Inc. | 82,258 | 2,155,982 |
National Fuel Gas Co. | 23,245 | 1,217,573 |
NextEra Energy, Inc. | 84,759 | 10,849,152 |
NiSource, Inc. | 94,335 | 2,194,232 |
NRG Energy, Inc. | 309,082 | 3,285,542 |
OGE Energy Corp. | 59,584 | 1,849,487 |
PG&E Corp. | 133,911 | 8,318,551 |
Pinnacle West Capital Corp. | 33,085 | 2,518,761 |
PPL Corp. | 184,475 | 6,334,871 |
Public Service Enterprise Group, Inc. | 169,322 | 7,125,070 |
SCANA Corp. | 35,959 | 2,637,952 |
Sempra Energy | 52,615 | 5,635,067 |
The Southern Co. | 249,706 | 12,877,338 |
UGI Corp. | 48,880 | 2,262,655 |
Vectren Corp. | 23,900 | 1,202,409 |
WEC Energy Group, Inc. | 47,686 | 2,847,808 |
Westar Energy, Inc. | 31,770 | 1,821,056 |
Xcel Energy, Inc. | 137,185 | 5,700,037 |
189,566,217 | ||
Total Common Stock | ||
(Cost $3,690,338,853) | 4,539,101,489 | |
Other Investment Companies 0.6% of net assets | ||
Money Market Fund 0.4% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.25% (c) | 19,932,431 | 19,932,431 |
Securities Lending Collateral 0.2% | ||
Wells Fargo Government Money Market Fund, Select Class 0.32% (c) | 9,281,475 | 9,281,475 |
Total Other Investment Companies | ||
(Cost $29,213,906) | 29,213,906 |
At 10/31/16, the tax basis cost of the fund's investments was $3,731,287,989 and the unrealized appreciation and depreciation were $1,023,735,954 and ($186,708,548), respectively, with a net unrealized appreciation of $837,027,406.
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $8,591,040. |
(b) | Issuer is affiliated with the fund's investment adviser. |
(c) | The rate shown is the 7-day yield. |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
S&P 500 Index, e-mini, Long, expires 12/16/16 | 240 | 25,441,200 | (254,824) |
Holdings by Category | Cost ($) | Value ($) | |
99.1% | Common Stock | 1,117,444,910 | 1,348,732,855 |
0.0% | Rights | 266,857 | 317,100 |
2.8% | Other Investment Companies | 38,237,722 | 38,237,722 |
101.9% | Total Investments | 1,155,949,489 | 1,387,287,677 |
(1.9%) | Other Assets and Liabilities, Net | (26,470,824) | |
100.0% | Net Assets | 1,360,816,853 |
Security | Number of Shares | Value ($) |
Common Stock 99.1% of net assets | ||
Automobiles & Components 1.2% | ||
American Axle & Manufacturing Holdings, Inc. * | 63,000 | 1,128,960 |
Cooper Tire & Rubber Co. | 81,900 | 3,009,824 |
Cooper-Standard Holding, Inc. * | 15,600 | 1,423,812 |
Dorman Products, Inc. * | 14,600 | 937,904 |
Drew Industries, Inc. | 16,795 | 1,503,992 |
Gentex Corp. | 153,100 | 2,588,921 |
Standard Motor Products, Inc. | 22,500 | 1,100,250 |
Superior Industries International, Inc. | 18,700 | 458,150 |
Tenneco, Inc. * | 50,900 | 2,803,063 |
Tower International, Inc. | 28,600 | 620,620 |
15,575,496 | ||
Banks 5.5% | ||
Associated Banc-Corp. | 84,600 | 1,717,380 |
Astoria Financial Corp. | 57,300 | 838,299 |
BancorpSouth, Inc. | 39,600 | 930,600 |
Bank of Hawaii Corp. | 28,100 | 2,111,715 |
Bank of the Ozarks, Inc. | 14,600 | 539,616 |
BankUnited, Inc. | 49,900 | 1,454,086 |
BOK Financial Corp. | 17,200 | 1,221,544 |
Capitol Federal Financial, Inc. | 99,186 | 1,455,059 |
Cathay General Bancorp | 24,800 | 742,760 |
Columbia Banking System, Inc. | 9,600 | 316,992 |
Commerce Bancshares, Inc. | 47,568 | 2,369,838 |
Community Bank System, Inc. | 19,300 | 909,223 |
Cullen/Frost Bankers, Inc. | 29,400 | 2,234,106 |
CVB Financial Corp. | 45,080 | 756,442 |
East West Bancorp, Inc. | 66,400 | 2,623,464 |
EverBank Financial Corp. | 68,800 | 1,328,528 |
F.N.B. Corp. | 97,900 | 1,279,553 |
First Citizens BancShares, Inc., Class A | 4,600 | 1,338,600 |
First Financial Bancorp | 49,800 | 1,070,700 |
First Financial Bankshares, Inc. | 19,700 | 713,140 |
First Horizon National Corp. | 188,100 | 2,898,621 |
First Republic Bank | 35,100 | 2,612,493 |
Fulton Financial Corp. | 113,500 | 1,691,150 |
Glacier Bancorp, Inc. | 33,480 | 946,145 |
Great Western Bancorp, Inc. | 23,900 | 770,536 |
Hancock Holding Co. | 53,500 | 1,794,925 |
IBERIABANK Corp. | 13,700 | 899,405 |
International Bancshares Corp. | 37,000 | 1,141,450 |
Security | Number of Shares | Value ($) |
Investors Bancorp, Inc. | 35,400 | 434,004 |
MB Financial, Inc. | 25,145 | 915,027 |
National Bank Holdings Corp., Class A | 13,900 | 338,326 |
NBT Bancorp, Inc. | 24,555 | 827,749 |
Northwest Bancshares, Inc. | 96,492 | 1,518,784 |
Ocwen Financial Corp. * | 359,700 | 1,535,919 |
Old National Bancorp | 58,625 | 861,787 |
PacWest Bancorp | 17,900 | 776,681 |
Park National Corp. | 4,300 | 416,799 |
Popular, Inc. | 106,200 | 3,855,060 |
PrivateBancorp, Inc. | 19,000 | 859,560 |
Prosperity Bancshares, Inc. | 24,900 | 1,381,203 |
Provident Financial Services, Inc. | 13,700 | 310,853 |
Signature Bank * | 8,010 | 965,686 |
SVB Financial Group * | 14,600 | 1,785,142 |
Synovus Financial Corp. | 51,700 | 1,709,719 |
TCF Financial Corp. | 117,200 | 1,675,960 |
Texas Capital Bancshares, Inc. * | 6,300 | 373,590 |
Trustmark Corp. | 51,900 | 1,436,592 |
UMB Financial Corp. | 17,101 | 1,061,117 |
Umpqua Holdings Corp. | 68,900 | 1,052,792 |
United Bankshares, Inc. | 25,795 | 972,471 |
Valley National Bancorp | 191,100 | 1,884,246 |
Walter Investment Management Corp. *(a) | 174,000 | 870,000 |
Washington Federal, Inc. | 69,400 | 1,891,150 |
Webster Financial Corp. | 37,400 | 1,510,960 |
Westamerica Bancorp | 18,970 | 940,153 |
Wintrust Financial Corp. | 19,640 | 1,059,578 |
Zions Bancorp | 97,600 | 3,143,696 |
75,070,974 | ||
Capital Goods 12.6% | ||
A.O. Smith Corp. | 51,600 | 2,330,772 |
AAR Corp. | 74,480 | 2,396,022 |
Actuant Corp., Class A | 77,000 | 1,717,100 |
Acuity Brands, Inc. | 9,100 | 2,034,487 |
Aegion Corp. * | 51,715 | 957,245 |
Air Lease Corp. | 34,000 | 1,028,840 |
Aircastle Ltd. | 57,200 | 1,175,460 |
Albany International Corp., Class A | 22,200 | 904,650 |
Allegion plc | 24,300 | 1,551,312 |
Allison Transmission Holdings, Inc. | 104,900 | 3,072,521 |
Altra Industrial Motion Corp. | 12,400 | 365,800 |
Apogee Enterprises, Inc. | 16,595 | 676,246 |
Applied Industrial Technologies, Inc. | 61,820 | 3,140,456 |
Astec Industries, Inc. | 19,150 | 1,060,144 |
AZZ, Inc. | 12,700 | 676,275 |
B/E Aerospace, Inc. | 45,100 | 2,684,352 |
Babcock & Wilcox Enterprises, Inc. * | 31,500 | 495,810 |
Barnes Group, Inc. | 40,865 | 1,628,062 |
Beacon Roofing Supply, Inc. * | 45,380 | 1,907,775 |
Briggs & Stratton Corp. | 82,900 | 1,543,598 |
BWX Technologies, Inc. | 79,200 | 3,106,224 |
Chart Industries, Inc. * | 43,510 | 1,206,967 |
CIRCOR International, Inc. | 17,790 | 956,746 |
CLARCOR, Inc. | 34,925 | 2,172,684 |
Colfax Corp. * | 58,000 | 1,843,820 |
Comfort Systems USA, Inc. | 32,400 | 934,740 |
Security | Number of Shares | Value ($) |
Crane Co. | 40,900 | 2,781,609 |
Cubic Corp. | 29,790 | 1,272,033 |
Curtiss-Wright Corp. | 28,300 | 2,536,246 |
DigitalGlobe, Inc. * | 41,300 | 1,036,630 |
Donaldson Co., Inc. | 97,800 | 3,571,656 |
DXP Enterprises, Inc. * | 18,000 | 392,220 |
Dycom Industries, Inc. * | 14,670 | 1,128,563 |
Encore Wire Corp. | 37,240 | 1,271,746 |
EnerSys | 45,000 | 2,930,850 |
EnPro Industries, Inc. | 16,570 | 896,768 |
ESCO Technologies, Inc. | 19,700 | 877,635 |
Esterline Technologies Corp. * | 30,300 | 2,225,535 |
Federal Signal Corp. | 28,400 | 348,752 |
Franklin Electric Co., Inc. | 30,160 | 1,099,332 |
GATX Corp. | 60,100 | 2,630,577 |
Generac Holdings, Inc. * | 71,100 | 2,708,199 |
General Cable Corp. | 220,700 | 3,089,800 |
Graco, Inc. | 24,840 | 1,860,516 |
Granite Construction, Inc. | 39,700 | 1,951,652 |
Griffon Corp. | 50,300 | 840,010 |
H&E Equipment Services, Inc. | 58,020 | 809,379 |
Harsco Corp. | 333,800 | 3,254,550 |
HD Supply Holdings, Inc. * | 49,500 | 1,633,500 |
HEICO Corp. | 10,612 | 716,947 |
HEICO Corp., Class A | 2,800 | 168,000 |
Hexcel Corp. | 50,385 | 2,292,014 |
Hillenbrand, Inc. | 46,300 | 1,405,205 |
Hyster-Yale Materials Handling, Inc. | 17,000 | 989,570 |
Kaman Corp. | 32,780 | 1,431,175 |
Kennametal, Inc. | 141,100 | 3,994,541 |
KLX, Inc. * | 63,000 | 2,168,460 |
Lennox International, Inc. | 21,400 | 3,122,046 |
Lindsay Corp. (a) | 10,300 | 806,490 |
Masco Corp. | 96,300 | 2,973,744 |
Masonite International Corp. * | 19,300 | 1,098,170 |
MasTec, Inc. * | 91,210 | 2,604,046 |
Meritor, Inc. * | 32,900 | 338,212 |
Moog, Inc., Class A * | 43,600 | 2,531,852 |
MRC Global, Inc. * | 222,200 | 3,275,228 |
MSC Industrial Direct Co., Inc., Class A | 43,700 | 3,181,360 |
Mueller Industries, Inc. | 94,300 | 2,856,347 |
Mueller Water Products, Inc., Class A | 35,700 | 439,824 |
MYR Group, Inc. * | 31,200 | 931,008 |
National Presto Industries, Inc. | 4,400 | 383,900 |
Nordson Corp. | 30,150 | 3,018,919 |
Orbital ATK, Inc. | 25,200 | 1,873,872 |
Primoris Services Corp. | 38,300 | 767,149 |
Quanex Building Products Corp. | 44,850 | 731,055 |
Raven Industries, Inc. | 41,830 | 897,254 |
RBC Bearings, Inc. * | 10,600 | 756,310 |
Regal Beloit Corp. | 55,900 | 3,303,690 |
Rexnord Corp. * | 70,300 | 1,398,267 |
Rush Enterprises, Inc., Class A * | 60,460 | 1,587,075 |
Simpson Manufacturing Co., Inc. | 27,585 | 1,180,638 |
Spirit AeroSystems Holdings, Inc., Class A * | 66,100 | 3,328,796 |
SPX Corp. * | 231,400 | 4,398,914 |
SPX FLOW, Inc. * | 38,800 | 973,492 |
Standex International Corp. | 8,000 | 611,200 |
Teledyne Technologies, Inc. * | 23,300 | 2,508,944 |
Tennant Co. | 16,280 | 1,024,826 |
Textainer Group Holdings Ltd. (a) | 32,300 | 245,480 |
The Greenbrier Cos., Inc. (a) | 31,920 | 1,005,480 |
The Middleby Corp. * | 11,824 | 1,325,589 |
The Toro Co. | 61,340 | 2,936,959 |
Titan International, Inc. | 153,775 | 1,566,967 |
Titan Machinery, Inc. * | 62,600 | 581,554 |
TriMas Corp. * | 51,900 | 931,605 |
Security | Number of Shares | Value ($) |
Tutor Perini Corp. * | 101,600 | 1,935,480 |
Universal Forest Products, Inc. | 24,570 | 2,112,774 |
USG Corp. * | 11,700 | 294,606 |
Wabash National Corp. * | 33,800 | 380,250 |
Wabtec Corp. | 37,620 | 2,908,402 |
Watsco, Inc. | 19,545 | 2,683,333 |
Watts Water Technologies, Inc., Class A | 25,455 | 1,527,300 |
Woodward, Inc. | 40,200 | 2,370,996 |
171,591,181 | ||
Commercial & Professional Supplies 4.9% | ||
ABM Industries, Inc. | 92,100 | 3,599,268 |
ACCO Brands Corp. * | 132,300 | 1,468,530 |
Brady Corp., Class A | 52,800 | 1,747,680 |
CBIZ, Inc. * | 33,900 | 374,595 |
CEB, Inc. | 12,970 | 630,991 |
Clean Harbors, Inc. * | 45,030 | 2,130,820 |
Copart, Inc. * | 69,800 | 3,662,406 |
Covanta Holding Corp. | 144,000 | 2,160,000 |
Deluxe Corp. | 39,000 | 2,386,800 |
Ennis, Inc. | 20,400 | 298,860 |
Essendant, Inc. | 118,500 | 1,818,975 |
FTI Consulting, Inc. * | 60,700 | 2,364,872 |
G&K Services, Inc., Class A | 15,690 | 1,485,843 |
Healthcare Services Group, Inc. | 38,055 | 1,406,893 |
Herman Miller, Inc. | 45,110 | 1,254,058 |
HNI Corp. | 42,000 | 1,707,720 |
Huron Consulting Group, Inc. * | 13,461 | 754,489 |
ICF International, Inc. * | 24,900 | 1,155,360 |
Insperity, Inc. | 16,260 | 1,222,752 |
Interface, Inc. | 49,285 | 781,167 |
KAR Auction Services, Inc. | 63,700 | 2,712,346 |
Kelly Services, Inc., Class A | 137,700 | 2,579,121 |
Kforce, Inc. | 49,100 | 851,885 |
Knoll, Inc. | 33,100 | 716,284 |
Korn/Ferry International | 34,730 | 708,145 |
Matthews International Corp., Class A | 19,415 | 1,162,959 |
McGrath RentCorp | 30,825 | 927,833 |
Mobile Mini, Inc. | 19,600 | 496,860 |
MSA Safety, Inc. | 24,325 | 1,418,147 |
Navigant Consulting, Inc. * | 55,225 | 1,292,265 |
On Assignment, Inc. * | 24,000 | 825,840 |
Quad Graphics, Inc. | 142,900 | 3,395,304 |
Resources Connection, Inc. | 63,860 | 948,321 |
Rollins, Inc. | 32,133 | 990,339 |
Steelcase, Inc., Class A | 109,600 | 1,463,160 |
Stericycle, Inc. * | 30,500 | 2,442,745 |
Team, Inc. * | 25,100 | 771,825 |
Tetra Tech, Inc. | 60,795 | 2,337,568 |
The Brink's Co. | 68,400 | 2,705,220 |
TrueBlue, Inc. * | 52,430 | 917,525 |
UniFirst Corp. | 11,905 | 1,458,362 |
Viad Corp. | 31,665 | 1,314,097 |
West Corp. | 57,800 | 1,139,816 |
65,988,046 | ||
Consumer Durables & Apparel 2.5% | ||
Arctic Cat, Inc. | 45,800 | 686,542 |
Brunswick Corp. | 45,600 | 1,983,600 |
CalAtlantic Group, Inc. | 11,200 | 361,984 |
Carter's, Inc. | 31,600 | 2,728,344 |
Columbia Sportswear Co. | 18,460 | 1,045,574 |
Crocs, Inc. * | 129,160 | 993,240 |
Deckers Outdoor Corp. * | 45,550 | 2,377,255 |
Ethan Allen Interiors, Inc. | 10,100 | 310,070 |
G-III Apparel Group Ltd. * | 34,400 | 898,528 |
Security | Number of Shares | Value ($) |
Helen of Troy Ltd. * | 16,530 | 1,347,195 |
Iconix Brand Group, Inc. * | 188,900 | 1,488,532 |
KB Home | 27,100 | 394,034 |
La-Z-Boy, Inc. | 55,720 | 1,303,848 |
Lennar Corp., Class A | 62,000 | 2,584,780 |
lululemon athletica, Inc. * | 30,200 | 1,728,950 |
M.D.C. Holdings, Inc. | 40,600 | 962,626 |
Meritage Homes Corp. * | 25,700 | 795,415 |
Oxford Industries, Inc. | 10,700 | 671,104 |
Skechers U.S.A., Inc., Class A * | 50,635 | 1,064,854 |
Smith & Wesson Holding Corp. * | 35,100 | 927,693 |
Steven Madden Ltd. * | 47,922 | 1,600,595 |
Sturm, Ruger & Co., Inc. | 16,500 | 1,014,750 |
Tempur Sealy International, Inc. * | 32,415 | 1,752,679 |
Toll Brothers, Inc. * | 45,200 | 1,240,288 |
Under Armour, Inc., Class A *(a) | 23,460 | 729,606 |
Under Armour, Inc., Class C * | 23,188 | 599,642 |
Unifi, Inc. * | 12,300 | 353,625 |
Vista Outdoor, Inc. * | 17,900 | 692,193 |
Wolverine World Wide, Inc. | 75,780 | 1,617,903 |
34,255,449 | ||
Consumer Services 4.5% | ||
BJ's Restaurants, Inc. * | 10,300 | 371,830 |
Bloomin' Brands, Inc. | 93,300 | 1,614,090 |
Bob Evans Farms, Inc. | 51,255 | 2,112,731 |
Boyd Gaming Corp. * | 34,600 | 617,956 |
Bright Horizons Family Solutions, Inc. * | 7,300 | 488,443 |
Buffalo Wild Wings, Inc. * | 8,000 | 1,165,200 |
Caesars Entertainment Corp. *(a) | 119,800 | 850,580 |
Capella Education Co. | 21,100 | 1,542,410 |
Career Education Corp. * | 282,200 | 2,029,018 |
Choice Hotels International, Inc. | 27,140 | 1,314,933 |
Churchill Downs, Inc. | 5,500 | 748,000 |
Cracker Barrel Old Country Store, Inc. (a) | 12,020 | 1,658,760 |
DineEquity, Inc. | 13,930 | 1,101,863 |
Domino's Pizza, Inc. | 14,400 | 2,437,056 |
Dunkin' Brands Group, Inc. | 42,600 | 2,060,136 |
Extended Stay America, Inc. | 22,300 | 318,890 |
Graham Holdings Co., Class B | 7,400 | 3,515,000 |
Grand Canyon Education, Inc. * | 16,900 | 737,516 |
Houghton Mifflin Harcourt Co. * | 58,300 | 737,495 |
Hyatt Hotels Corp., Class A * | 20,400 | 1,036,116 |
ILG, Inc. | 23,200 | 380,016 |
International Speedway Corp., Class A | 23,250 | 764,925 |
Jack in the Box, Inc. | 28,200 | 2,643,186 |
K12, Inc. * | 61,700 | 668,828 |
La Quinta Holdings, Inc. * | 61,500 | 615,615 |
Marriott Vacations Worldwide Corp. | 18,800 | 1,195,304 |
Norwegian Cruise Line Holdings Ltd. * | 40,400 | 1,570,348 |
Panera Bread Co., Class A * | 16,175 | 3,085,543 |
Papa John's International, Inc. | 11,020 | 831,459 |
Penn National Gaming, Inc. * | 117,100 | 1,514,103 |
Red Robin Gourmet Burgers, Inc. * | 17,780 | 817,880 |
Regis Corp. * | 118,500 | 1,502,580 |
Ruby Tuesday, Inc. * | 254,350 | 755,419 |
SeaWorld Entertainment, Inc. (a) | 122,600 | 1,717,626 |
ServiceMaster Global Holdings, Inc. * | 12,800 | 458,112 |
Six Flags Entertainment Corp. | 32,600 | 1,814,190 |
Sotheby's | 45,920 | 1,647,610 |
Strayer Education, Inc. * | 33,200 | 1,947,512 |
Texas Roadhouse, Inc. | 43,610 | 1,767,077 |
The Cheesecake Factory, Inc. | 50,035 | 2,661,362 |
The Wendy's Co. | 275,000 | 2,981,000 |
Security | Number of Shares | Value ($) |
Vail Resorts, Inc. | 10,360 | 1,651,798 |
Weight Watchers International, Inc. *(a) | 138,492 | 1,423,698 |
60,873,214 | ||
Diversified Financials 4.9% | ||
Affiliated Managers Group, Inc. * | 16,700 | 2,215,422 |
Altisource Residential Corp. | 48,200 | 485,374 |
Anworth Mortgage Asset Corp. | 186,755 | 916,967 |
BGC Partners, Inc., Class A | 110,100 | 945,759 |
Capstead Mortgage Corp. | 116,350 | 1,106,489 |
CBOE Holdings, Inc. | 32,200 | 2,035,362 |
Chimera Investment Corp. | 154,600 | 2,422,582 |
Colony Capital, Inc., Class A | 17,500 | 332,675 |
Credit Acceptance Corp. *(a) | 4,900 | 902,090 |
CYS Investments, Inc. | 51,200 | 441,344 |
E*TRADE Financial Corp. * | 99,000 | 2,787,840 |
Eaton Vance Corp. | 83,200 | 2,916,992 |
Evercore Partners, Inc., Class A | 18,200 | 978,250 |
EZCORP, Inc., Class A * | 223,400 | 2,178,150 |
FactSet Research Systems, Inc. | 12,365 | 1,913,113 |
Federated Investors, Inc., Class B | 85,800 | 2,316,600 |
FirstCash, Inc. | 45,090 | 2,128,248 |
Greenhill & Co., Inc. | 53,435 | 1,253,051 |
Invesco Mortgage Capital, Inc. | 118,800 | 1,773,684 |
Janus Capital Group, Inc. | 85,000 | 1,089,700 |
KCG Holdings, Inc., Class A * | 25,200 | 321,552 |
Lazard Ltd., Class A | 55,600 | 2,027,176 |
LPL Financial Holdings, Inc. (a) | 98,800 | 3,058,848 |
MarketAxess Holdings, Inc. | 4,900 | 738,724 |
MFA Financial, Inc. | 308,400 | 2,254,404 |
Morningstar, Inc. | 9,600 | 678,048 |
MSCI, Inc. | 26,300 | 2,108,997 |
Nelnet, Inc., Class A | 27,240 | 1,067,263 |
New Residential Investment Corp. | 140,400 | 1,959,984 |
OneMain Holdings, Inc. * | 33,800 | 957,892 |
PennyMac Mortgage Investment Trust | 80,900 | 1,231,298 |
PRA Group, Inc. * | 32,400 | 1,033,560 |
Raymond James Financial, Inc. | 53,400 | 3,210,408 |
Redwood Trust, Inc. | 92,900 | 1,306,174 |
Santander Consumer USA Holdings, Inc. * | 205,000 | 2,501,000 |
SEI Investments Co. | 61,800 | 2,739,594 |
Starwood Property Trust, Inc. | 84,600 | 1,881,504 |
Stifel Financial Corp. * | 28,460 | 1,113,924 |
Two Harbors Investment Corp. | 165,600 | 1,379,448 |
Waddell & Reed Financial, Inc., Class A | 128,700 | 2,023,164 |
Western Asset Mortgage Capital Corp. | 68,800 | 696,944 |
World Acceptance Corp. * | 37,260 | 1,770,595 |
67,200,193 | ||
Energy 4.4% | ||
Alon USA Energy, Inc. | 133,600 | 1,076,816 |
Antero Resources Corp. * | 21,900 | 579,693 |
Archrock, Inc. | 250,400 | 2,904,640 |
Atwood Oceanics, Inc. (a) | 203,400 | 1,551,942 |
Bill Barrett Corp. * | 237,300 | 1,231,587 |
Bristow Group, Inc. | 135,500 | 1,356,355 |
CARBO Ceramics, Inc. * | 83,780 | 511,058 |
Carrizo Oil & Gas, Inc. * | 11,300 | 382,279 |
Continental Resources, Inc. * | 29,300 | 1,433,063 |
CVR Energy, Inc. (a) | 59,700 | 791,622 |
Dril-Quip, Inc. * | 26,885 | 1,277,038 |
EP Energy Corp., Class A *(a) | 76,000 | 270,560 |
Forum Energy Technologies, Inc. * | 68,800 | 1,238,400 |
Golar LNG Ltd. | 59,900 | 1,311,211 |
Green Plains, Inc. | 93,000 | 2,418,000 |
Gulfport Energy Corp. * | 13,600 | 327,896 |
Security | Number of Shares | Value ($) |
Helix Energy Solutions Group, Inc. * | 231,900 | 2,022,168 |
Hornbeck Offshore Services, Inc. * | 103,080 | 409,228 |
Laredo Petroleum, Inc. * | 32,700 | 389,784 |
Matrix Service Co. * | 37,300 | 660,210 |
McDermott International, Inc. * | 558,300 | 2,869,662 |
Newpark Resources, Inc. * | 224,540 | 1,414,602 |
Nordic American Tankers Ltd. (a) | 55,985 | 457,397 |
Oasis Petroleum, Inc. * | 130,900 | 1,373,141 |
Oil States International, Inc. * | 83,000 | 2,427,750 |
PDC Energy, Inc. * | 12,755 | 782,264 |
Pioneer Energy Services Corp. * | 334,300 | 1,186,765 |
Range Resources Corp. | 88,600 | 2,993,794 |
Renewable Energy Group, Inc. * | 116,000 | 1,015,000 |
REX American Resources Corp. * | 4,400 | 347,556 |
Rowan Cos. plc, Class A | 159,000 | 2,109,930 |
RPC, Inc. * | 74,300 | 1,283,161 |
SEACOR Holdings, Inc. * | 46,300 | 2,283,053 |
SemGroup Corp., Class A | 40,700 | 1,312,575 |
Ship Finance International Ltd. (a) | 57,300 | 724,845 |
Targa Resources Corp. | 67,200 | 2,950,080 |
Teekay Corp. (a) | 160,700 | 1,049,371 |
Tesco Corp. | 103,900 | 711,715 |
TETRA Technologies, Inc. * | 129,460 | 705,557 |
Tidewater, Inc. (a) | 484,100 | 837,493 |
Unit Corp. * | 170,800 | 2,925,804 |
US Silica Holdings, Inc. | 27,300 | 1,260,987 |
W&T Offshore, Inc. *(a) | 425,900 | 617,555 |
WPX Energy, Inc. * | 379,400 | 4,120,284 |
59,903,891 | ||
Food & Staples Retailing 0.9% | ||
Ingles Markets, Inc., Class A | 35,000 | 1,382,500 |
Performance Food Group Co. * | 24,900 | 597,600 |
PriceSmart, Inc. | 14,740 | 1,340,603 |
Rite Aid Corp. * | 343,000 | 2,301,530 |
SpartanNash, Co. | 75,000 | 2,100,000 |
Sprouts Farmers Market, Inc. * | 46,000 | 1,018,900 |
SUPERVALU, Inc. * | 359,700 | 1,543,113 |
The Andersons, Inc. | 66,037 | 2,512,708 |
12,796,954 | ||
Food, Beverage & Tobacco 2.4% | ||
B&G Foods, Inc. | 26,900 | 1,140,560 |
Cal-Maine Foods, Inc. (a) | 25,000 | 966,250 |
Darling Ingredients, Inc. * | 156,720 | 2,131,392 |
Dean Foods Co. | 103,700 | 1,893,562 |
Flowers Foods, Inc. | 160,950 | 2,497,944 |
Fresh Del Monte Produce, Inc. | 53,300 | 3,216,655 |
J&J Snack Foods Corp. | 9,535 | 1,164,700 |
Lancaster Colony Corp. | 13,365 | 1,746,137 |
Pilgrim's Pride Corp. | 64,600 | 1,410,864 |
Pinnacle Foods, Inc. | 49,200 | 2,529,864 |
Sanderson Farms, Inc. | 29,300 | 2,636,414 |
Snyder's-Lance, Inc. | 44,788 | 1,593,109 |
The Boston Beer Co., Inc., Class A * | 4,200 | 652,050 |
The Hain Celestial Group, Inc. * | 35,140 | 1,278,042 |
The WhiteWave Foods Co. * | 40,500 | 2,206,845 |
TreeHouse Foods, Inc. * | 23,085 | 2,019,476 |
Universal Corp. | 52,400 | 2,840,080 |
Vector Group Ltd. | 52,278 | 1,094,702 |
33,018,646 | ||
Health Care Equipment & Services 3.4% | ||
Air Methods Corp. * | 27,500 | 727,375 |
Alere, Inc. * | 33,300 | 1,487,844 |
Security | Number of Shares | Value ($) |
Align Technology, Inc. * | 11,000 | 945,120 |
Allscripts Healthcare Solutions, Inc. * | 172,500 | 2,071,725 |
Amedisys, Inc. * | 20,170 | 872,554 |
Amsurg Corp. * | 18,325 | 1,094,919 |
Analogic Corp. | 9,165 | 750,155 |
Brookdale Senior Living, Inc. * | 110,100 | 1,588,743 |
Chemed Corp. | 16,295 | 2,304,439 |
CONMED Corp. | 23,395 | 935,800 |
Envision Healthcare Holdings, Inc. * | 107,800 | 2,132,284 |
Haemonetics Corp. * | 32,500 | 1,085,825 |
Halyard Health, Inc. * | 80,500 | 2,604,175 |
HealthSouth Corp. | 54,300 | 2,180,145 |
Hill-Rom Holdings, Inc. | 44,400 | 2,460,204 |
HMS Holdings Corp. * | 16,900 | 356,083 |
Hologic, Inc. * | 23,200 | 835,432 |
Integer Holdings Corp. * | 22,400 | 493,920 |
Invacare Corp. | 98,065 | 897,295 |
Kindred Healthcare, Inc. | 216,322 | 2,130,772 |
LHC Group, Inc. * | 8,200 | 281,014 |
Masimo Corp. * | 23,000 | 1,265,000 |
Molina Healthcare, Inc. * | 33,957 | 1,847,600 |
PharMerica Corp. * | 52,940 | 1,259,972 |
Quality Systems, Inc. | 58,700 | 756,643 |
Select Medical Holdings Corp. * | 185,700 | 2,414,100 |
Team Health Holdings, Inc. * | 21,800 | 934,130 |
Teleflex, Inc. | 14,700 | 2,104,011 |
The Cooper Cos., Inc. | 16,300 | 2,869,452 |
Triple-S Management Corp., Class B * | 57,300 | 1,184,964 |
VCA, Inc. * | 35,200 | 2,163,392 |
West Pharmaceutical Services, Inc. | 23,580 | 1,792,787 |
46,827,874 | ||
Household & Personal Products 0.6% | ||
Central Garden & Pet Co., Class A * | 31,300 | 730,542 |
Edgewell Personal Care Co. * | 50,700 | 3,822,780 |
Energizer Holdings, Inc. | 27,100 | 1,260,421 |
HRG Group, Inc. * | 40,400 | 607,616 |
Spectrum Brands Holdings, Inc. | 8,700 | 1,176,588 |
WD-40 Co. | 7,415 | 790,624 |
8,388,571 | ||
Insurance 4.1% | ||
Allied World Assurance Co. Holdings AG | 85,700 | 3,683,386 |
Ambac Financial Group, Inc. * | 101,000 | 1,863,450 |
American Equity Investment Life Holding Co. | 102,015 | 1,829,129 |
American National Insurance Co. | 3,500 | 410,060 |
AmTrust Financial Services, Inc. | 26,600 | 701,974 |
Argo Group International Holdings Ltd. | 26,470 | 1,471,732 |
Aspen Insurance Holdings Ltd. | 69,500 | 3,353,375 |
Brown & Brown, Inc. | 59,800 | 2,204,228 |
CNA Financial Corp. | 24,000 | 877,680 |
Employers Holdings, Inc. | 30,400 | 953,040 |
Endurance Specialty Holdings Ltd. | 44,996 | 4,137,382 |
Erie Indemnity Co., Class A | 13,100 | 1,341,309 |
Horace Mann Educators Corp. | 26,090 | 937,936 |
Infinity Property & Casualty Corp. | 13,165 | 1,078,872 |
James River Group Holdings Ltd. | 9,600 | 361,344 |
Kemper Corp. | 72,600 | 2,726,130 |
Maiden Holdings Ltd. | 53,700 | 733,005 |
Markel Corp. * | 3,182 | 2,791,982 |
MBIA, Inc. * | 232,300 | 1,788,710 |
Mercury General Corp. | 34,300 | 1,868,321 |
Old Republic International Corp. | 182,800 | 3,082,008 |
Primerica, Inc. | 60,000 | 3,282,000 |
ProAssurance Corp. | 45,300 | 2,414,490 |
Security | Number of Shares | Value ($) |
RLI Corp. | 27,100 | 1,510,554 |
Safety Insurance Group, Inc. | 17,005 | 1,151,238 |
Selective Insurance Group, Inc. | 29,900 | 1,104,805 |
Stewart Information Services Corp. | 32,400 | 1,456,380 |
The Hanover Insurance Group, Inc. | 32,800 | 2,499,032 |
Validus Holdings Ltd. | 79,200 | 4,047,120 |
55,660,672 | ||
Materials 7.3% | ||
A. Schulman, Inc. | 54,533 | 1,567,824 |
AK Steel Holding Corp. * | 79,600 | 413,920 |
Axalta Coating Systems Ltd. * | 47,600 | 1,195,712 |
Berry Plastics Group, Inc. * | 47,500 | 2,078,125 |
Boise Cascade Co. * | 78,100 | 1,503,425 |
Calgon Carbon Corp. | 53,500 | 845,300 |
Carpenter Technology Corp. | 59,800 | 1,890,278 |
Century Aluminum Co. * | 124,800 | 912,288 |
Chemtura Corp. * | 98,300 | 3,224,240 |
Clearwater Paper Corp. * | 30,860 | 1,638,666 |
Cliffs Natural Resources, Inc. * | 1,850,200 | 10,213,104 |
Compass Minerals International, Inc. | 26,130 | 1,877,440 |
Crown Holdings, Inc. * | 65,200 | 3,537,100 |
Eagle Materials, Inc. | 15,570 | 1,260,703 |
Ferro Corp. * | 54,130 | 701,525 |
Greif, Inc., Class A | 70,000 | 3,280,200 |
H.B. Fuller Co. | 38,980 | 1,639,889 |
Hecla Mining Co. | 225,000 | 1,347,750 |
Innophos Holdings, Inc. | 39,850 | 1,826,724 |
Innospec, Inc. | 18,580 | 1,119,445 |
Kaiser Aluminum Corp. | 20,880 | 1,513,591 |
KapStone Paper & Packaging Corp. | 72,700 | 1,318,778 |
Koppers Holdings, Inc. * | 40,260 | 1,318,515 |
Kraton Corp. * | 45,800 | 1,173,854 |
Louisiana-Pacific Corp. * | 70,300 | 1,290,005 |
Martin Marietta Materials, Inc. | 18,800 | 3,485,144 |
Materion Corp. | 43,960 | 1,331,988 |
Minerals Technologies, Inc. | 24,720 | 1,661,184 |
Neenah Paper, Inc. | 11,500 | 918,850 |
NewMarket Corp. | 6,295 | 2,523,728 |
Olin Corp. | 131,500 | 2,883,795 |
P.H. Glatfelter Co. | 79,245 | 1,760,824 |
Platform Specialty Products Corp. * | 35,500 | 258,795 |
PolyOne Corp. | 72,700 | 2,125,021 |
Quaker Chemical Corp. | 9,800 | 1,053,500 |
Royal Gold, Inc. | 15,600 | 1,073,592 |
Schnitzer Steel Industries, Inc., Class A | 146,810 | 3,545,461 |
Schweitzer-Mauduit International, Inc. | 33,772 | 1,246,525 |
Sensient Technologies Corp. | 35,300 | 2,630,203 |
Silgan Holdings, Inc. | 50,000 | 2,547,500 |
Southern Copper Corp. | 135,500 | 3,846,845 |
Stepan Co. | 24,330 | 1,728,160 |
Stillwater Mining Co. * | 74,070 | 986,612 |
SunCoke Energy, Inc. | 231,600 | 2,364,636 |
The Scotts Miracle-Gro Co., Class A | 34,900 | 3,074,341 |
TimkenSteel Corp. * | 109,800 | 1,125,450 |
Trinseo S.A. | 9,900 | 519,255 |
Tronox Ltd., Class A | 253,700 | 2,054,970 |
W.R. Grace & Co. | 22,000 | 1,473,120 |
Westlake Chemical Corp. | 34,600 | 1,791,934 |
Worthington Industries, Inc. | 57,500 | 2,702,500 |
99,402,334 | ||
Media 2.0% | ||
AMC Networks, Inc., Class A * | 20,000 | 978,600 |
Cable One, Inc. | 1,250 | 720,925 |
Cinemark Holdings, Inc. | 86,700 | 3,450,660 |
Security | Number of Shares | Value ($) |
Gannett Co., Inc. | 121,400 | 943,278 |
John Wiley & Sons, Inc., Class A | 39,000 | 2,012,400 |
Lions Gate Entertainment Corp. | 35,600 | 724,816 |
Live Nation Entertainment, Inc. * | 81,000 | 2,241,270 |
Loral Space & Communications, Inc. * | 27,200 | 1,055,360 |
Media General, Inc. * | 19,600 | 330,260 |
Meredith Corp. | 32,700 | 1,482,945 |
National CineMedia, Inc. | 71,100 | 986,157 |
Regal Entertainment Group, Class A | 90,700 | 1,950,957 |
Scholastic Corp. | 47,900 | 1,832,175 |
Sinclair Broadcast Group, Inc., Class A | 38,019 | 954,277 |
Sirius XM Holdings, Inc. * | 745,000 | 3,106,650 |
Starz, Class A * | 48,000 | 1,510,080 |
The New York Times Co., Class A | 104,500 | 1,139,050 |
Tribune Media Co., Class A | 47,900 | 1,561,540 |
26,981,400 | ||
Pharmaceuticals, Biotechnology & Life Sciences 2.3% | ||
Alexion Pharmaceuticals, Inc. * | 14,800 | 1,931,400 |
Bio-Rad Laboratories, Inc., Class A * | 13,600 | 2,149,888 |
Bio-Techne Corp. | 13,865 | 1,441,821 |
Bruker Corp. | 41,000 | 840,090 |
Catalent, Inc. * | 12,200 | 278,282 |
Charles River Laboratories International, Inc. * | 29,300 | 2,223,284 |
Endo International plc * | 38,600 | 723,750 |
Illumina, Inc. * | 13,260 | 1,805,217 |
Impax Laboratories, Inc. * | 33,700 | 677,370 |
Mallinckrodt plc * | 31,821 | 1,885,713 |
Myriad Genetics, Inc. * | 57,700 | 1,137,267 |
PAREXEL International Corp. * | 19,220 | 1,119,757 |
PDL BioPharma, Inc. | 489,750 | 1,576,995 |
PerkinElmer, Inc. | 53,200 | 2,707,348 |
Prestige Brands Holdings, Inc. * | 13,300 | 602,224 |
QIAGEN N.V. * | 84,500 | 2,060,110 |
Quintiles IMS Holdings, Inc. * | 55,226 | 3,961,913 |
Regeneron Pharmaceuticals, Inc. * | 3,400 | 1,173,068 |
United Therapeutics Corp. * | 14,800 | 1,777,036 |
Vertex Pharmaceuticals, Inc. * | 3,500 | 265,510 |
VWR Corp. * | 21,500 | 591,465 |
30,929,508 | ||
Real Estate 9.6% | ||
Acadia Realty Trust | 8,300 | 279,627 |
Alexandria Real Estate Equities, Inc. | 25,600 | 2,759,936 |
Altisource Portfolio Solutions S.A. * | 26,800 | 690,100 |
American Campus Communities, Inc. | 41,260 | 2,150,059 |
Apartment Investment & Management Co., Class A | 51,500 | 2,269,605 |
Apple Hospitality REIT, Inc. | 59,100 | 1,065,573 |
Ashford Hospitality Trust, Inc. | 81,900 | 475,839 |
Brandywine Realty Trust | 123,000 | 1,906,500 |
Brixmor Property Group, Inc. | 72,200 | 1,835,324 |
Camden Property Trust | 35,100 | 2,858,544 |
Care Capital Properties, Inc. | 14,900 | 395,893 |
CBL & Associates Properties, Inc. | 196,600 | 2,103,620 |
Chesapeake Lodging Trust | 15,000 | 325,650 |
Columbia Property Trust, Inc. | 118,200 | 2,491,656 |
Corporate Office Properties Trust | 70,100 | 1,870,969 |
Cousins Properties, Inc. | 29,200 | 226,884 |
CubeSmart | 29,400 | 766,458 |
DCT Industrial Trust, Inc. | 28,550 | 1,334,712 |
DDR Corp. | 110,400 | 1,688,016 |
DiamondRock Hospitality Co. | 144,600 | 1,323,090 |
Douglas Emmett, Inc. | 54,300 | 1,981,950 |
DuPont Fabros Technology, Inc. | 21,500 | 877,415 |
Security | Number of Shares | Value ($) |
EastGroup Properties, Inc. | 14,550 | 988,090 |
EPR Properties | 22,800 | 1,658,016 |
Equinix, Inc. | 9,486 | 3,389,158 |
Equity Commonwealth * | 88,400 | 2,670,564 |
Equity LifeStyle Properties, Inc. | 19,940 | 1,512,250 |
Equity One, Inc. | 25,800 | 735,300 |
Essex Property Trust, Inc. | 11,009 | 2,356,917 |
Extra Space Storage, Inc. | 18,165 | 1,328,770 |
Federal Realty Investment Trust | 17,800 | 2,585,094 |
First Industrial Realty Trust, Inc. | 14,800 | 390,868 |
Franklin Street Properties Corp. | 72,100 | 834,197 |
Gaming & Leisure Properties, Inc. | 25,200 | 827,316 |
Government Properties Income Trust | 51,100 | 978,054 |
Gramercy Property Trust | 96,300 | 887,886 |
Healthcare Realty Trust, Inc. | 42,800 | 1,364,892 |
Healthcare Trust of America, Inc., Class A | 42,500 | 1,300,500 |
Hersha Hospitality Trust | 35,725 | 636,620 |
Highwoods Properties, Inc. | 44,100 | 2,188,683 |
HomeBanc Corp. *(b)(d) | 6,875 | — |
Investors Real Estate Trust | 119,900 | 727,793 |
Kilroy Realty Corp. | 24,700 | 1,774,201 |
Lamar Advertising Co., Class A | 31,000 | 1,966,950 |
LaSalle Hotel Properties | 65,540 | 1,556,575 |
Lexington Realty Trust | 152,100 | 1,542,294 |
Liberty Property Trust | 86,300 | 3,489,109 |
Life Storage, Inc. | 9,370 | 755,690 |
Mack-Cali Realty Corp. | 98,500 | 2,529,480 |
Medical Properties Trust, Inc. | 67,900 | 946,526 |
Mid-America Apartment Communities, Inc. | 21,221 | 1,968,248 |
Monogram Residential Trust, Inc. | 42,500 | 447,950 |
National Retail Properties, Inc. | 38,500 | 1,756,370 |
NorthStar Realty Finance Corp. | 103,433 | 1,501,847 |
Omega Healthcare Investors, Inc. | 45,890 | 1,460,679 |
Outfront Media, Inc. | 131,400 | 2,826,414 |
Paramount Group, Inc. | 33,400 | 519,370 |
Parkway, Inc. * | 3,650 | 65,773 |
Pebblebrook Hotel Trust | 14,500 | 352,060 |
Pennsylvania Real Estate Investment Trust | 45,400 | 885,754 |
Piedmont Office Realty Trust, Inc., Class A | 130,500 | 2,672,640 |
Post Properties, Inc. | 17,120 | 1,126,325 |
Potlatch Corp. | 36,000 | 1,382,400 |
PS Business Parks, Inc. | 8,550 | 938,704 |
RAIT Financial Trust | 104,500 | 318,725 |
Rayonier, Inc. | 125,300 | 3,360,546 |
Realogy Holdings Corp. | 98,600 | 2,256,954 |
Realty Income Corp. | 43,400 | 2,571,016 |
Regency Centers Corp. | 29,600 | 2,133,272 |
Retail Properties of America, Inc., Class A | 147,600 | 2,298,132 |
RLJ Lodging Trust | 81,900 | 1,615,068 |
Ryman Hospitality Properties, Inc. | 27,700 | 1,396,634 |
Sabra Health Care REIT, Inc. | 45,900 | 1,069,470 |
Senior Housing Properties Trust | 152,000 | 3,233,040 |
Spirit Realty Capital, Inc. | 98,600 | 1,174,326 |
Sun Communities, Inc. | 13,855 | 1,065,865 |
Sunstone Hotel Investors, Inc. | 86,443 | 1,085,724 |
Tanger Factory Outlet Centers, Inc. | 37,180 | 1,293,864 |
Taubman Centers, Inc. | 28,400 | 2,057,864 |
The GEO Group, Inc. | 70,536 | 1,690,043 |
Tier REIT, Inc. | 21,000 | 309,750 |
UDR, Inc. | 83,600 | 2,923,492 |
VEREIT, Inc. | 76,400 | 718,160 |
Washington Prime Group, Inc. | 86,200 | 904,238 |
Washington Real Estate Investment Trust | 44,900 | 1,320,958 |
Weingarten Realty Investors | 56,900 | 2,060,349 |
Security | Number of Shares | Value ($) |
WP Carey, Inc. | 28,200 | 1,712,868 |
Xenia Hotels & Resorts, Inc. | 44,300 | 691,523 |
130,765,628 | ||
Retailing 5.2% | ||
Aaron's, Inc. | 133,100 | 3,288,901 |
Asbury Automotive Group, Inc. * | 35,800 | 1,824,010 |
Ascena Retail Group, Inc. * | 348,800 | 1,705,632 |
Barnes & Noble Education, Inc. * | 80,000 | 744,800 |
Barnes & Noble, Inc. | 157,000 | 1,617,100 |
Burlington Stores, Inc. * | 37,000 | 2,772,780 |
Cabela's, Inc. * | 29,600 | 1,823,656 |
Caleres, Inc. | 67,042 | 1,676,721 |
DSW, Inc., Class A | 110,836 | 2,302,064 |
Express, Inc. * | 141,100 | 1,696,022 |
Five Below, Inc. * | 24,000 | 901,920 |
Fred's, Inc., Class A | 137,170 | 1,252,362 |
Genesco, Inc. * | 40,600 | 2,184,280 |
Group 1 Automotive, Inc. | 49,300 | 2,971,311 |
Hibbett Sports, Inc. * | 36,485 | 1,417,442 |
HSN, Inc. | 42,500 | 1,602,250 |
Lands' End, Inc. *(a) | 40,000 | 624,000 |
Liberty TripAdvisor Holdings, Inc., Class A * | 31,600 | 701,520 |
Lithia Motors, Inc., Class A | 15,535 | 1,332,592 |
Lumber Liquidators Holdings, Inc. *(a) | 74,500 | 1,155,495 |
Monro Muffler Brake, Inc. | 13,840 | 761,200 |
Netflix, Inc. * | 20,790 | 2,596,047 |
Nutrisystem, Inc. | 31,930 | 1,012,181 |
Penske Automotive Group, Inc. | 57,000 | 2,550,750 |
Pier 1 Imports, Inc. | 427,585 | 1,842,891 |
Pool Corp. | 21,280 | 1,970,102 |
Rent-A-Center, Inc. | 299,800 | 3,024,982 |
Restoration Hardware Holdings, Inc. *(a) | 19,700 | 570,709 |
Sally Beauty Holdings, Inc. * | 104,465 | 2,709,822 |
Select Comfort Corp. * | 45,270 | 868,731 |
Shoe Carnival, Inc. | 14,100 | 357,717 |
Shutterfly, Inc. * | 15,200 | 744,800 |
Sonic Automotive, Inc., Class A | 96,400 | 1,725,560 |
Stage Stores, Inc. | 246,055 | 1,252,420 |
The Buckle, Inc. (a) | 66,822 | 1,393,239 |
The Cato Corp., Class A | 37,795 | 1,121,378 |
The Children's Place, Inc. | 32,160 | 2,442,552 |
The Finish Line, Inc., Class A | 113,652 | 2,237,808 |
The Michaels Cos., Inc. * | 32,400 | 753,300 |
TripAdvisor, Inc. * | 17,000 | 1,096,160 |
Tuesday Morning Corp. * | 111,300 | 550,935 |
Ulta Salon, Cosmetics & Fragrance, Inc. * | 13,000 | 3,163,420 |
Vitamin Shoppe, Inc. * | 41,700 | 1,044,585 |
Zumiez, Inc. * | 38,600 | 858,850 |
70,244,997 | ||
Semiconductors & Semiconductor Equipment 2.8% | ||
Advanced Energy Industries, Inc. * | 7,800 | 372,060 |
Advanced Micro Devices, Inc. * | 668,000 | 4,829,640 |
Amkor Technology, Inc. * | 201,800 | 1,870,686 |
Brooks Automation, Inc. | 64,490 | 840,305 |
Cabot Microelectronics Corp. | 29,630 | 1,637,354 |
Cirrus Logic, Inc. * | 32,335 | 1,745,443 |
Cree, Inc. * | 77,000 | 1,717,100 |
Cypress Semiconductor Corp. | 162,203 | 1,617,164 |
Diodes, Inc. * | 33,300 | 689,643 |
Entegris, Inc. * | 75,245 | 1,196,395 |
First Solar, Inc. * | 61,200 | 2,477,988 |
Integrated Device Technology, Inc. * | 45,780 | 948,104 |
Intersil Corp., Class A | 103,400 | 2,283,072 |
Security | Number of Shares | Value ($) |
Microsemi Corp. * | 33,812 | 1,424,500 |
MKS Instruments, Inc. | 34,550 | 1,743,047 |
ON Semiconductor Corp. * | 285,200 | 3,328,284 |
Photronics, Inc. * | 77,825 | 754,903 |
Power Integrations, Inc. | 5,600 | 360,920 |
Qorvo, Inc. * | 27,600 | 1,535,940 |
Silicon Laboratories, Inc. * | 27,190 | 1,630,040 |
Synaptics, Inc. * | 13,305 | 693,457 |
Teradyne, Inc. | 129,200 | 3,009,068 |
Tessera Technologies, Inc. | 10,500 | 389,550 |
Veeco Instruments, Inc. * | 57,260 | 1,242,542 |
38,337,205 | ||
Software & Services 6.2% | ||
ACI Worldwide, Inc. * | 42,400 | 768,288 |
Acxiom Corp. * | 63,215 | 1,489,345 |
ANSYS, Inc. * | 20,900 | 1,909,215 |
Cadence Design Systems, Inc. * | 55,100 | 1,409,458 |
Cardtronics plc, Class A * | 19,300 | 965,000 |
CDK Global, Inc. | 25,600 | 1,398,016 |
Cimpress N.V. * | 13,020 | 1,083,915 |
CommVault Systems, Inc. * | 6,800 | 363,800 |
Convergys Corp. | 105,600 | 3,083,520 |
CoreLogic, Inc. * | 84,000 | 3,575,040 |
CSG Systems International, Inc. | 26,145 | 994,294 |
DST Systems, Inc. | 27,400 | 2,634,784 |
EarthLink Holdings Corp. | 186,175 | 1,064,921 |
EPAM Systems, Inc. * | 4,900 | 315,413 |
Euronet Worldwide, Inc. * | 14,295 | 1,137,167 |
Fair Isaac Corp. | 16,105 | 1,943,551 |
First Data Corp., Class A * | 116,600 | 1,631,234 |
FleetCor Technologies, Inc. * | 8,800 | 1,542,640 |
Gartner, Inc. * | 23,900 | 2,056,356 |
Genpact Ltd. * | 84,250 | 1,936,908 |
j2 Global, Inc. | 13,585 | 966,573 |
Jack Henry & Associates, Inc. | 28,680 | 2,323,654 |
LinkedIn Corp., Class A * | 6,400 | 1,213,440 |
Manhattan Associates, Inc. * | 16,080 | 814,291 |
ManTech International Corp., Class A | 55,400 | 2,151,182 |
MAXIMUS, Inc. | 31,680 | 1,649,261 |
Mentor Graphics Corp. | 66,820 | 1,931,098 |
Monster Worldwide, Inc. * | 344,500 | 1,174,745 |
NeuStar, Inc., Class A * | 97,075 | 2,179,334 |
Nuance Communications, Inc. * | 72,600 | 1,017,852 |
Progress Software Corp. * | 61,125 | 1,644,874 |
PTC, Inc. * | 48,040 | 2,279,018 |
Rackspace Hosting, Inc. * | 69,420 | 2,217,275 |
Red Hat, Inc. * | 34,200 | 2,648,790 |
Sabre Corp. | 15,400 | 397,782 |
salesforce.com, Inc. * | 27,833 | 2,091,928 |
Science Applications International Corp. | 52,700 | 3,631,557 |
SS&C Technologies Holdings, Inc. | 24,600 | 785,478 |
Sykes Enterprises, Inc. * | 39,555 | 1,057,701 |
Synopsys, Inc. * | 49,900 | 2,959,569 |
Take-Two Interactive Software, Inc. * | 48,755 | 2,164,234 |
TiVo Corp. * | 95,707 | 1,899,784 |
Travelport Worldwide Ltd. | 98,700 | 1,393,644 |
Unisys Corp. * | 159,900 | 1,670,955 |
Vantiv, Inc., Class A * | 24,800 | 1,447,328 |
Verint Systems, Inc. * | 22,300 | 802,800 |
VeriSign, Inc. * | 36,400 | 3,058,328 |
VMware, Inc., Class A *(a) | 23,300 | 1,831,380 |
WebMD Health Corp. * | 23,600 | 1,159,468 |
WEX, Inc. * | 12,700 | 1,385,570 |
Zynga, Inc., Class A * | 268,400 | 754,204 |
84,005,962 | ||
Security | Number of Shares | Value ($) |
Technology Hardware & Equipment 4.3% | ||
ADTRAN, Inc. | 80,445 | 1,460,077 |
AVX Corp. | 57,100 | 800,542 |
Belden, Inc. | 28,040 | 1,817,272 |
Benchmark Electronics, Inc. * | 121,900 | 3,065,785 |
Cognex Corp. | 18,930 | 976,788 |
Coherent, Inc. * | 13,240 | 1,378,549 |
CommScope Holding Co., Inc. * | 77,900 | 2,379,845 |
Comtech Telecommunications Corp. | 79,970 | 831,688 |
Diebold, Inc. | 77,800 | 1,696,040 |
Dolby Laboratories, Inc., Class A | 40,100 | 1,908,359 |
Eastman Kodak Co. * | 32,000 | 476,800 |
EchoStar Corp., Class A * | 40,200 | 1,878,948 |
Electronics For Imaging, Inc. * | 15,902 | 676,312 |
ePlus, Inc. * | 4,400 | 402,820 |
Fabrinet * | 22,600 | 857,896 |
Finisar Corp. * | 74,730 | 2,046,107 |
Harmonic, Inc. * | 219,300 | 1,118,430 |
II-VI, Inc. * | 36,100 | 1,003,580 |
Insight Enterprises, Inc. * | 110,900 | 3,192,811 |
InterDigital, Inc. | 24,400 | 1,723,860 |
IPG Photonics Corp. * | 9,300 | 902,193 |
Itron, Inc. * | 33,700 | 1,816,430 |
Knowles Corp. * | 118,800 | 1,774,872 |
Littelfuse, Inc. | 9,645 | 1,345,477 |
Lumentum Holdings, Inc. * | 11,900 | 399,840 |
Methode Electronics, Inc. | 23,500 | 733,200 |
MTS Systems Corp. | 16,680 | 793,134 |
National Instruments Corp. | 58,442 | 1,641,636 |
NETGEAR, Inc. * | 30,950 | 1,562,975 |
NetScout Systems, Inc. * | 14,600 | 400,770 |
OSI Systems, Inc. * | 10,200 | 715,326 |
Plantronics, Inc. | 31,910 | 1,650,066 |
Plexus Corp. * | 53,080 | 2,431,595 |
Rofin-Sinar Technologies, Inc. * | 26,210 | 853,136 |
Rogers Corp. * | 5,500 | 299,365 |
ScanSource, Inc. * | 58,440 | 2,045,400 |
Super Micro Computer, Inc. * | 27,000 | 639,900 |
Trimble, Inc. * | 94,500 | 2,611,980 |
TTM Technologies, Inc. * | 87,600 | 1,151,940 |
VeriFone Systems, Inc. * | 54,600 | 845,208 |
ViaSat, Inc. * | 15,215 | 1,075,092 |
Viavi Solutions, Inc. * | 161,400 | 1,149,168 |
Zebra Technologies Corp., Class A * | 27,620 | 1,818,501 |
58,349,713 | ||
Telecommunication Services 1.0% | ||
ATN International, Inc. | 4,500 | 304,380 |
Cincinnati Bell, Inc. * | 72,920 | 1,432,878 |
Consolidated Communications Holdings, Inc. | 48,714 | 1,165,726 |
General Communication, Inc., Class A * | 39,400 | 624,096 |
Inteliquent, Inc. | 43,100 | 723,649 |
Iridium Communications, Inc. * | 88,900 | 724,535 |
SBA Communications Corp., Class A * | 23,105 | 2,617,334 |
Spok Holdings, Inc. | 17,800 | 321,290 |
Vonage Holdings Corp. * | 183,300 | 1,257,438 |
Windstream Holdings, Inc. (a) | 424,100 | 3,329,185 |
Zayo Group Holdings, Inc. * | 27,500 | 884,950 |
13,385,461 | ||
Transportation 3.1% | ||
Allegiant Travel Co. | 7,900 | 1,089,410 |
AMERCO | 3,300 | 1,063,887 |
ArcBest Corp. | 73,040 | 1,453,496 |
Security | Number of Shares | Value ($) |
Atlas Air Worldwide Holdings, Inc. * | 39,400 | 1,648,890 |
Copa Holdings S.A., Class A | 43,100 | 3,975,113 |
Echo Global Logistics, Inc. * | 13,900 | 294,680 |
Forward Air Corp. | 23,025 | 951,393 |
Genesee & Wyoming, Inc., Class A * | 23,965 | 1,628,182 |
Hawaiian Holdings, Inc. * | 20,740 | 933,819 |
Heartland Express, Inc. | 43,565 | 801,596 |
Hub Group, Inc., Class A * | 54,310 | 1,979,599 |
Kirby Corp. * | 43,300 | 2,552,535 |
Knight Transportation, Inc. | 51,325 | 1,501,256 |
Landstar System, Inc. | 43,870 | 3,121,350 |
Macquarie Infrastructure Corp. | 21,000 | 1,718,010 |
Marten Transport Ltd. | 34,500 | 707,250 |
Matson, Inc. | 28,800 | 1,150,272 |
Old Dominion Freight Line, Inc. * | 33,675 | 2,514,849 |
Roadrunner Transportation Systems, Inc. * | 48,700 | 370,120 |
Saia, Inc. * | 35,950 | 1,281,618 |
SkyWest, Inc. | 123,800 | 3,732,570 |
Spirit Airlines, Inc. * | 38,000 | 1,821,340 |
Swift Transportation Co. * | 79,100 | 1,770,258 |
United Continental Holdings, Inc. * | 51,000 | 2,867,730 |
Werner Enterprises, Inc. | 74,600 | 1,794,130 |
42,723,353 | ||
Utilities 3.4% | ||
ALLETE, Inc. | 32,600 | 1,998,054 |
American States Water Co. | 22,530 | 900,749 |
Aqua America, Inc. | 75,275 | 2,310,943 |
Avangrid, Inc. | 9,900 | 390,159 |
Avista Corp. | 57,100 | 2,363,940 |
Black Hills Corp. | 40,800 | 2,523,480 |
California Water Service Group | 32,480 | 1,006,880 |
Dynegy, Inc. * | 104,000 | 1,107,600 |
El Paso Electric Co. | 40,290 | 1,861,398 |
Hawaiian Electric Industries, Inc. | 102,900 | 3,035,550 |
IDACORP, Inc. | 29,600 | 2,320,344 |
MGE Energy, Inc. | 20,550 | 1,201,148 |
New Jersey Resources Corp. | 65,400 | 2,220,330 |
Northwest Natural Gas Co. | 24,705 | 1,452,654 |
NorthWestern Corp. | 31,500 | 1,812,825 |
ONE Gas, Inc. | 33,700 | 2,065,136 |
Otter Tail Corp. | 42,980 | 1,545,131 |
PNM Resources, Inc. | 90,400 | 2,969,640 |
Portland General Electric Co. | 75,600 | 3,299,184 |
South Jersey Industries, Inc. | 49,080 | 1,455,222 |
Southwest Gas Corp. | 42,100 | 3,050,566 |
Spire, Inc. | 24,440 | 1,534,832 |
The Empire District Electric Co. | 40,910 | 1,400,349 |
WGL Holdings, Inc. | 41,700 | 2,630,019 |
46,456,133 | ||
Total Common Stock | ||
(Cost $1,117,444,910) | 1,348,732,855 | |
Rights 0.0% of net assets | ||
Technology Hardware & Equipment 0.0% | ||
Gerber Scientific, Inc. CVR *(b)(d) | 19,700 | — |
Telecommunication Services 0.0% | ||
Leap Wireless CVR *(b)(d) | 105,700 | 317,100 |
Total Rights | ||
(Cost $266,857) | 317,100 | |
Security | Number of Shares | Value ($) |
Other Investment Companies 2.8% of net assets | ||
Money Market Fund 0.8% | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class 0.25% (c) | 10,788,722 | 10,788,722 |
Securities Lending Collateral 2.0% | ||
Wells Fargo Government Money Market Fund, Select Class 0.32% (c) | 27,449,000 | 27,449,000 |
Total Other Investment Companies | ||
(Cost $38,237,722) | 38,237,722 |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $26,051,203. |
(b) | Illiquid security. At the period end, the value of these amounted to $317,100 or 0.0% of net assets. |
(c) | The rate shown is the 7-day yield. |
(d) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
CVR — | Contingent Value Rights |
REIT — | Real Estate Investment Trust |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
Russell 2000 Index, mini, Long, expires 12/16/16 | 92 | 10,941,560 | (449,989) |
Holdings by Category | Cost ($) | Value ($) | |
98.4% | Common Stock | 1,038,626,509 | 956,039,183 |
0.7% | Preferred Stock | 8,293,244 | 6,972,658 |
0.0% | Rights | 14,095 | 39,639 |
0.7% | Other Investment Company | 6,974,447 | 6,974,447 |
0.5% | Short-Term Investments | 4,242,264 | 4,242,264 |
100.3% | Total Investments | 1,058,150,559 | 974,268,191 |
(0.3%) | Other Assets and Liabilities, Net | (2,860,707) | |
100.0% | Net Assets | 971,407,484 |
Security | Number of Shares | Value ($) |
Common Stock 98.4% of net assets | ||
Australia 6.4% | ||
Banks 2.0% | ||
Australia & New Zealand Banking Group Ltd. | 214,967 | 4,539,116 |
Bendigo & Adelaide Bank Ltd. | 33,879 | 286,103 |
Commonwealth Bank of Australia | 91,947 | 5,118,771 |
National Australia Bank Ltd. | 196,839 | 4,178,386 |
Westpac Banking Corp. | 215,944 | 4,993,691 |
19,116,067 | ||
Capital Goods 0.0% | ||
CIMIC Group Ltd. | 11,040 | 247,749 |
Commercial & Professional Supplies 0.1% | ||
Brambles Ltd. | 66,010 | 577,938 |
Downer EDI Ltd. | 123,057 | 543,898 |
1,121,836 | ||
Consumer Services 0.1% | ||
Tabcorp Holdings Ltd. | 85,883 | 315,533 |
Tatts Group Ltd. | 123,751 | 381,469 |
697,002 | ||
Diversified Financials 0.2% | ||
AMP Ltd. | 246,370 | 854,341 |
BGP Holdings plc (a)(f) | 453,854 | 24,413 |
Macquarie Group Ltd. | 14,372 | 868,778 |
1,747,532 | ||
Energy 0.4% | ||
Caltex Australia Ltd. | 28,152 | 655,301 |
Origin Energy Ltd. | 251,321 | 1,012,968 |
Santos Ltd. | 174,188 | 466,084 |
Woodside Petroleum Ltd. | 65,080 | 1,393,102 |
WorleyParsons Ltd. * | 90,320 | 577,232 |
4,104,687 | ||
Food & Staples Retailing 0.9% | ||
Metcash Ltd. * | 400,164 | 603,913 |
Wesfarmers Ltd. | 145,006 | 4,515,332 |
Woolworths Ltd. | 196,974 | 3,534,935 |
8,654,180 | ||
Food, Beverage & Tobacco 0.1% | ||
Coca-Cola Amatil Ltd. | 56,205 | 407,193 |
Security | Number of Shares | Value ($) |
Health Care Equipment & Services 0.0% | ||
Sonic Healthcare Ltd. | 25,241 | 392,559 |
Insurance 0.3% | ||
Insurance Australia Group Ltd. | 154,143 | 644,442 |
Medibank Pvt Ltd. | 145,895 | 285,826 |
QBE Insurance Group Ltd. | 127,351 | 964,873 |
Suncorp Group Ltd. | 150,402 | 1,365,064 |
3,260,205 | ||
Materials 1.6% | ||
Amcor Ltd. | 56,925 | 635,377 |
Arrium Ltd. *(a)(f) | 11,838,630 | 41,606 |
BHP Billiton Ltd. | 492,253 | 8,600,068 |
BlueScope Steel Ltd. | 96,239 | 570,950 |
Boral Ltd. | 63,713 | 304,407 |
CSR Ltd. | 90,122 | 250,243 |
Fortescue Metals Group Ltd. | 197,371 | 828,292 |
Iluka Resources Ltd. | 56,788 | 248,965 |
Incitec Pivot Ltd. | 140,475 | 314,182 |
Newcrest Mining Ltd. | 42,047 | 736,219 |
Orica Ltd. | 60,328 | 745,315 |
Rio Tinto Ltd. | 51,945 | 2,149,197 |
15,424,821 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
CSL Ltd. | 14,780 | 1,127,796 |
Real Estate 0.2% | ||
LendLease Group | 42,202 | 432,313 |
Mirvac Group | 195,529 | 310,175 |
Scentre Group | 146,092 | 467,573 |
Stockland | 168,060 | 564,419 |
Westfield Corp. | 64,923 | 438,741 |
2,213,221 | ||
Telecommunication Services 0.2% | ||
Telstra Corp., Ltd. | 394,341 | 1,491,375 |
Transportation 0.1% | ||
Aurizon Holdings Ltd. | 136,960 | 507,425 |
Transurban Group | 38,244 | 301,765 |
809,190 | ||
Utilities 0.1% | ||
AGL Energy Ltd. | 48,681 | 709,161 |
APA Group | 42,185 | 254,951 |
DUET Group | 127,121 | 230,143 |
1,194,255 | ||
62,009,668 | ||
Austria 0.4% | ||
Banks 0.2% | ||
Erste Group Bank AG * | 30,990 | 971,809 |
Raiffeisen Bank International AG * | 26,767 | 438,371 |
1,410,180 | ||
Energy 0.1% | ||
OMV AG | 44,652 | 1,393,571 |
Security | Number of Shares | Value ($) |
Materials 0.1% | ||
voestalpine AG | 17,849 | 632,320 |
3,436,071 | ||
Belgium 0.7% | ||
Banks 0.1% | ||
KBC Group N.V. * | 13,206 | 805,051 |
Diversified Financials 0.0% | ||
Groupe Bruxelles Lambert S.A. | 4,945 | 425,106 |
Food & Staples Retailing 0.0% | ||
Colruyt S.A. | 6,023 | 323,724 |
Food, Beverage & Tobacco 0.3% | ||
Anheuser-Busch InBev S.A./N.V. | 23,005 | 2,640,279 |
Insurance 0.1% | ||
Ageas | 19,973 | 729,682 |
Materials 0.1% | ||
Solvay S.A. | 6,085 | 698,031 |
Umicore S.A. | 12,616 | 766,827 |
1,464,858 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
UCB S.A. | 3,759 | 254,378 |
Telecommunication Services 0.1% | ||
Proximus | 18,365 | 525,652 |
7,168,730 | ||
Canada 7.5% | ||
Automobiles & Components 0.2% | ||
Magna International, Inc. | 48,827 | 2,004,699 |
Banks 1.8% | ||
Bank of Montreal | 36,261 | 2,307,641 |
Canadian Imperial Bank of Commerce | 27,261 | 2,042,593 |
National Bank of Canada | 22,033 | 786,506 |
Royal Bank of Canada | 72,444 | 4,526,062 |
The Bank of Nova Scotia | 67,215 | 3,612,061 |
The Toronto-Dominion Bank | 82,152 | 3,727,556 |
17,002,419 | ||
Capital Goods 0.1% | ||
Bombardier, Inc., Class B * | 317,453 | 421,283 |
Finning International, Inc. | 21,317 | 396,684 |
SNC-Lavalin Group, Inc. | 10,240 | 416,074 |
1,234,041 | ||
Diversified Financials 0.2% | ||
Brookfield Asset Management, Inc., Class A | 40,332 | 1,412,357 |
CI Financial Corp. | 16,015 | 294,677 |
IGM Financial, Inc. | 9,234 | 247,837 |
Onex Corp. | 6,515 | 421,413 |
2,376,284 | ||
Energy 2.2% | ||
ARC Resources Ltd. | 24,272 | 412,043 |
Baytex Energy Corp. *(b) | 81,492 | 313,501 |
Cameco Corp. | 24,967 | 192,283 |
Canadian Natural Resources Ltd. | 83,645 | 2,654,714 |
Cenovus Energy, Inc. | 111,895 | 1,614,231 |
Crescent Point Energy Corp. | 48,871 | 581,876 |
Enbridge, Inc. | 34,958 | 1,509,556 |
Encana Corp. | 174,397 | 1,662,967 |
Enerplus Corp. | 67,147 | 452,052 |
Gibson Energy, Inc. | 21,053 | 264,163 |
Husky Energy, Inc. * | 63,821 | 686,600 |
Imperial Oil Ltd. | 22,141 | 718,060 |
Inter Pipeline Ltd. | 16,074 | 333,272 |
Security | Number of Shares | Value ($) |
Keyera Corp. | 7,300 | 219,114 |
Pacific Exploration & Production Corp. *(a)(f) | 175,814 | — |
Pembina Pipeline Corp. | 15,278 | 469,400 |
Pengrowth Energy Corp. | 258,995 | 399,701 |
Penn West Petroleum Ltd. *(b) | 663,111 | 1,057,972 |
Suncor Energy, Inc. | 183,537 | 5,507,615 |
TransCanada Corp. | 44,472 | 2,013,226 |
Vermilion Energy, Inc. | 7,654 | 300,157 |
21,362,503 | ||
Food & Staples Retailing 0.3% | ||
Alimentation Couche-Tard, Inc., Class B | 16,840 | 845,955 |
Empire Co., Ltd., Class A | 30,700 | 442,201 |
George Weston Ltd. | 5,711 | 465,378 |
Loblaw Cos., Ltd. | 15,543 | 766,895 |
Metro, Inc. | 22,294 | 689,114 |
3,209,543 | ||
Food, Beverage & Tobacco 0.1% | ||
Saputo, Inc. | 13,375 | 480,634 |
Insurance 0.5% | ||
Fairfax Financial Holdings Ltd. | 570 | 291,927 |
Great-West Lifeco, Inc. | 15,454 | 388,165 |
Intact Financial Corp. | 5,206 | 353,898 |
Manulife Financial Corp. | 82,000 | 1,187,848 |
Power Corp. of Canada | 39,444 | 846,048 |
Power Financial Corp. | 20,214 | 477,733 |
Sun Life Financial, Inc. | 28,275 | 946,294 |
4,491,913 | ||
Materials 1.0% | ||
Agnico-Eagle Mines Ltd. | 5,400 | 274,247 |
Agrium, Inc. | 12,553 | 1,152,353 |
Barrick Gold Corp. | 77,239 | 1,359,010 |
First Quantum Minerals Ltd. | 73,470 | 697,836 |
Goldcorp, Inc. | 44,020 | 668,521 |
Kinross Gold Corp. * | 80,992 | 314,597 |
Methanex Corp. | 6,600 | 239,879 |
Potash Corp. of Saskatchewan, Inc. | 91,664 | 1,490,488 |
Teck Resources Ltd., Class B | 151,468 | 3,270,345 |
West Fraser Timber Co., Ltd. | 5,800 | 198,566 |
Yamana Gold, Inc. | 101,378 | 362,037 |
10,027,879 | ||
Media 0.1% | ||
Quebecor, Inc., Class B | 7,925 | 222,394 |
Shaw Communications, Inc., Class B | 30,055 | 595,588 |
817,982 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Valeant Pharmaceuticals International, Inc. * | 9,109 | 162,581 |
Retailing 0.1% | ||
Canadian Tire Corp., Ltd., Class A | 5,576 | 542,011 |
Dollarama, Inc. | 2,900 | 216,705 |
758,716 | ||
Software & Services 0.0% | ||
CGI Group, Inc., Class A * | 7,392 | 351,110 |
Technology Hardware & Equipment 0.1% | ||
BlackBerry Ltd. * | 101,588 | 717,243 |
Celestica, Inc. * | 25,766 | 304,859 |
1,022,102 |
Security | Number of Shares | Value ($) |
Telecommunication Services 0.3% | ||
BCE, Inc. | 29,712 | 1,349,921 |
Rogers Communications, Inc., Class B | 23,841 | 959,115 |
TELUS Corp. | 22,571 | 730,827 |
3,039,863 | ||
Transportation 0.3% | ||
Canadian National Railway Co. | 31,617 | 1,987,583 |
Canadian Pacific Railway Ltd. | 4,750 | 679,017 |
2,666,600 | ||
Utilities 0.2% | ||
Atco Ltd., Class I | 8,089 | 283,564 |
Canadian Utilities Ltd., Class A | 11,993 | 342,721 |
Emera, Inc. | 6,798 | 237,091 |
Fortis, Inc. | 17,627 | 580,207 |
TransAlta Corp. | 82,121 | 361,840 |
1,805,423 | ||
72,814,292 | ||
Denmark 0.8% | ||
Banks 0.1% | ||
Danske Bank A/S | 23,712 | 731,492 |
Capital Goods 0.1% | ||
Vestas Wind Systems A/S | 5,154 | 412,917 |
Commercial & Professional Supplies 0.0% | ||
ISS A/S | 8,292 | 325,508 |
Consumer Durables & Apparel 0.0% | ||
Pandora A/S | 1,698 | 220,834 |
Food, Beverage & Tobacco 0.1% | ||
Carlsberg A/S, Class B | 7,472 | 673,185 |
Health Care Equipment & Services 0.0% | ||
Coloplast A/S, Class B | 2,957 | 205,993 |
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
Novo Nordisk A/S, Class B | 36,821 | 1,311,766 |
Telecommunication Services 0.1% | ||
TDC A/S * | 162,194 | 894,256 |
Transportation 0.3% | ||
AP Moeller - Maersk A/S, Series A | 748 | 1,093,324 |
AP Moeller - Maersk A/S, Series B | 865 | 1,326,807 |
DSV A/S | 6,382 | 309,015 |
2,729,146 | ||
7,505,097 | ||
Finland 0.9% | ||
Automobiles & Components 0.0% | ||
Nokian Renkaat Oyj | 8,124 | 272,492 |
Capital Goods 0.1% | ||
Kone Oyj, Class B | 11,222 | 516,343 |
Metso Oyj | 12,469 | 326,934 |
Wartsila Oyj Abp | 8,177 | 353,363 |
1,196,640 | ||
Energy 0.1% | ||
Neste Oyj | 13,785 | 594,714 |
Food & Staples Retailing 0.1% | ||
Kesko Oyj, B Shares | 15,965 | 793,300 |
Insurance 0.1% | ||
Sampo Oyj, A Shares | 19,011 | 870,970 |
Materials 0.2% | ||
Stora Enso Oyj, R Shares | 80,253 | 758,401 |
UPM-Kymmene Oyj | 58,532 | 1,361,543 |
2,119,944 |
Security | Number of Shares | Value ($) |
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Orion Oyj, Class B | 7,453 | 317,229 |
Technology Hardware & Equipment 0.2% | ||
Nokia Oyj | 366,167 | 1,634,774 |
Telecommunication Services 0.0% | ||
Elisa Oyj | 7,172 | 241,633 |
Utilities 0.1% | ||
Fortum Oyj | 53,235 | 887,369 |
8,929,065 | ||
France 9.8% | ||
Automobiles & Components 0.3% | ||
Faurecia | 8,064 | 297,250 |
Peugeot S.A. * | 53,040 | 794,275 |
Renault S.A. | 17,500 | 1,521,832 |
Valeo S.A. | 13,668 | 788,710 |
3,402,067 | ||
Banks 1.0% | ||
BNP Paribas S.A. | 93,858 | 5,442,192 |
Credit Agricole S.A. | 95,968 | 1,035,398 |
Natixis S.A. | 51,991 | 263,050 |
Societe Generale S.A. | 88,486 | 3,451,618 |
10,192,258 | ||
Capital Goods 1.5% | ||
Airbus Group SE | 20,396 | 1,211,112 |
Alstom S.A. * | 22,835 | 613,615 |
Bouygues S.A. | 35,522 | 1,157,928 |
Compagnie de Saint-Gobain | 65,697 | 2,917,155 |
Eiffage S.A. | 4,838 | 358,179 |
Legrand S.A. | 12,596 | 711,634 |
Rexel S.A. | 62,167 | 862,209 |
Safran S.A. | 12,411 | 854,018 |
Schneider Electric SE | 41,530 | 2,792,896 |
Thales S.A. | 4,156 | 391,017 |
Vinci S.A. | 39,060 | 2,828,705 |
Zodiac Aerospace | 10,996 | 267,227 |
14,965,695 | ||
Commercial & Professional Supplies 0.1% | ||
Bureau Veritas S.A. | 9,857 | 186,170 |
Teleperformance | 2,887 | 305,034 |
491,204 | ||
Consumer Durables & Apparel 0.4% | ||
Christian Dior SE | 3,447 | 664,809 |
Kering | 4,394 | 974,893 |
LVMH Moet Hennessy Louis Vuitton SE | 11,938 | 2,173,446 |
3,813,148 | ||
Consumer Services 0.1% | ||
Accor S.A. | 13,217 | 501,537 |
Sodexo S.A. | 5,015 | 582,346 |
1,083,883 | ||
Diversified Financials 0.0% | ||
Eurazeo S.A. | 3,105 | 178,798 |
Wendel S.A. | 2,357 | 271,163 |
449,961 | ||
Energy 2.0% | ||
CGG S.A. *(b) | 10,517 | 277,778 |
Technip S.A. | 12,713 | 843,761 |
TOTAL S.A. | 369,236 | 17,688,214 |
Vallourec S.A. *(b) | 92,756 | 455,831 |
19,265,584 |
Security | Number of Shares | Value ($) |
Food & Staples Retailing 0.4% | ||
Carrefour S.A. | 92,015 | 2,411,616 |
Casino Guichard Perrachon S.A. | 15,103 | 751,842 |
Rallye S.A. (b) | 22,590 | 409,266 |
3,572,724 | ||
Food, Beverage & Tobacco 0.3% | ||
Danone S.A. | 30,983 | 2,148,929 |
Pernod-Ricard S.A. | 8,811 | 1,047,833 |
3,196,762 | ||
Health Care Equipment & Services 0.1% | ||
Essilor International S.A. | 5,300 | 595,579 |
Household & Personal Products 0.2% | ||
L'Oreal S.A. | 8,626 | 1,545,427 |
Insurance 0.4% | ||
AXA S.A. | 137,771 | 3,108,433 |
CNP Assurances | 16,345 | 283,066 |
SCOR SE | 12,183 | 394,530 |
3,786,029 | ||
Materials 0.3% | ||
Air Liquide S.A. | 20,376 | 2,070,459 |
Arkema S.A. | 7,301 | 692,298 |
2,762,757 | ||
Media 0.4% | ||
Eutelsat Communications S.A. | 11,456 | 240,058 |
Publicis Groupe S.A. | 8,382 | 575,003 |
Vivendi S.A. | 151,315 | 3,062,697 |
3,877,758 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.7% | ||
Sanofi | 84,093 | 6,544,014 |
Real Estate 0.1% | ||
Klepierre | 5,638 | 230,413 |
Unibail-Rodamco SE | 2,851 | 676,727 |
907,140 | ||
Software & Services 0.1% | ||
Atos SE | 4,914 | 509,943 |
Capgemini S.A. | 8,455 | 700,217 |
1,210,160 | ||
Telecommunication Services 0.5% | ||
Orange S.A. | 313,762 | 4,936,623 |
Transportation 0.1% | ||
Air France-KLM *(b) | 75,026 | 457,335 |
Bollore S.A. | 57,488 | 189,265 |
646,600 | ||
Utilities 0.8% | ||
Electricite de France S.A. (b) | 83,934 | 940,918 |
Engie S.A. | 370,184 | 5,338,689 |
Suez | 38,958 | 617,081 |
Veolia Environnement S.A. | 63,305 | 1,383,049 |
8,279,737 | ||
95,525,110 | ||
Germany 8.5% | ||
Automobiles & Components 1.3% | ||
Bayerische Motoren Werke AG | 38,423 | 3,352,232 |
Continental AG | 5,964 | 1,145,630 |
Daimler AG - Reg'd | 94,321 | 6,729,046 |
Leoni AG | 7,460 | 282,954 |
Volkswagen AG | 4,721 | 705,717 |
12,215,579 | ||
Banks 0.1% | ||
Commerzbank AG | 145,765 | 992,692 |
Security | Number of Shares | Value ($) |
Capital Goods 0.9% | ||
Brenntag AG | 12,175 | 650,878 |
GEA Group AG | 8,054 | 311,946 |
HOCHTIEF AG | 2,001 | 273,230 |
Kloeckner & Co. SE * | 23,720 | 296,212 |
MAN SE | 2,193 | 224,467 |
MTU Aero Engines AG | 2,572 | 268,579 |
OSRAM Licht AG | 7,281 | 413,537 |
Rheinmetall AG | 3,468 | 240,741 |
Siemens AG - Reg'd | 57,742 | 6,560,493 |
9,240,083 | ||
Commercial & Professional Supplies 0.0% | ||
Bilfinger SE *(b) | 8,429 | 296,819 |
Consumer Durables & Apparel 0.2% | ||
adidas AG | 9,754 | 1,602,524 |
Hugo Boss AG | 6,028 | 379,043 |
1,981,567 | ||
Diversified Financials 0.3% | ||
Deutsche Bank AG - Reg'd * | 171,369 | 2,478,275 |
Deutsche Boerse AG * | 6,485 | 506,403 |
2,984,678 | ||
Food & Staples Retailing 0.1% | ||
METRO AG | 41,821 | 1,252,715 |
Food, Beverage & Tobacco 0.0% | ||
Suedzucker AG | 14,930 | 382,992 |
Health Care Equipment & Services 0.2% | ||
Fresenius Medical Care AG & Co. KGaA | 8,630 | 702,949 |
Fresenius SE & Co. KGaA | 14,936 | 1,103,579 |
1,806,528 | ||
Household & Personal Products 0.1% | ||
Beiersdorf AG | 3,415 | 301,065 |
Henkel AG & Co. KGaA | 4,305 | 474,335 |
775,400 | ||
Insurance 0.8% | ||
Allianz SE - Reg'd | 31,875 | 4,975,822 |
Hannover Rueck SE | 3,106 | 346,509 |
Muenchener Rueckversicherungs-Gesellschaft AG - Reg'd | 12,494 | 2,425,829 |
7,748,160 | ||
Materials 1.6% | ||
Aurubis AG | 10,475 | 546,130 |
BASF SE | 100,227 | 8,847,835 |
Evonik Industries AG | 10,162 | 318,238 |
Fuchs Petrolub AG | 1,213 | 47,997 |
HeidelbergCement AG | 11,653 | 1,102,351 |
K&S AG - Reg'd | 25,947 | 525,420 |
LANXESS AG | 10,632 | 681,774 |
Linde AG | 12,145 | 2,005,948 |
Salzgitter AG | 11,119 | 365,503 |
ThyssenKrupp AG | 36,169 | 839,233 |
15,280,429 | ||
Media 0.0% | ||
ProSiebenSat.1 Media SE | 11,004 | 474,252 |
Pharmaceuticals, Biotechnology & Life Sciences 0.5% | ||
Bayer AG - Reg'd | 44,688 | 4,437,055 |
Merck KGaA | 4,273 | 439,820 |
4,876,875 | ||
Real Estate 0.0% | ||
Vonovia SE | 5,772 | 203,491 |
Semiconductors & Semiconductor Equipment 0.1% | ||
Infineon Technologies AG | 40,276 | 724,375 |
Security | Number of Shares | Value ($) |
Software & Services 0.3% | ||
SAP SE | 27,940 | 2,461,498 |
Telecommunication Services 0.6% | ||
Deutsche Telekom AG - Reg'd | 339,708 | 5,542,410 |
Freenet AG | 12,345 | 353,920 |
5,896,330 | ||
Transportation 0.4% | ||
Deutsche Lufthansa AG - Reg'd | 49,275 | 630,676 |
Deutsche Post AG - Reg'd | 89,694 | 2,781,489 |
3,412,165 | ||
Utilities 1.0% | ||
E.ON SE | 741,406 | 5,433,657 |
RWE AG * | 236,738 | 3,766,308 |
Uniper SE * | 21,570 | 287,102 |
9,487,067 | ||
82,493,695 | ||
Hong Kong 1.4% | ||
Banks 0.1% | ||
BOC Hong Kong (Holdings) Ltd. | 175,000 | 623,745 |
Hang Seng Bank Ltd. | 26,300 | 474,302 |
1,098,047 | ||
Capital Goods 0.3% | ||
CK Hutchison Holdings Ltd. | 16,000 | 197,568 |
Jardine Matheson Holdings Ltd. | 15,200 | 925,832 |
Jardine Strategic Holdings Ltd. | 12,500 | 438,592 |
Noble Group Ltd. *(b) | 8,431,431 | 1,002,512 |
2,564,504 | ||
Consumer Durables & Apparel 0.1% | ||
Li & Fung Ltd. | 868,000 | 426,688 |
Yue Yuen Industrial Holdings Ltd. | 70,500 | 268,481 |
695,169 | ||
Consumer Services 0.1% | ||
Galaxy Entertainment Group Ltd. | 89,000 | 364,422 |
Sands China Ltd. | 102,000 | 442,655 |
SJM Holdings Ltd. | 354,000 | 244,336 |
1,051,413 | ||
Diversified Financials 0.0% | ||
Hong Kong Exchanges & Clearing Ltd. | 10,300 | 272,296 |
Food, Beverage & Tobacco 0.1% | ||
China Mengniu Dairy Co., Ltd. | 134,000 | 253,128 |
Want Want China Holdings Ltd. | 338,000 | 205,763 |
458,891 | ||
Insurance 0.1% | ||
AIA Group Ltd. | 202,800 | 1,275,815 |
Real Estate 0.4% | ||
Cheung Kong Property Holdings Ltd. | 19,000 | 140,460 |
Hongkong Land Holdings Ltd. | 35,000 | 234,370 |
Link REIT | 41,500 | 295,228 |
New World Development Co., Ltd. | 339,000 | 421,462 |
Sun Hung Kai Properties Ltd. | 56,000 | 833,903 |
Swire Pacific Ltd., Class A | 58,500 | 608,041 |
Swire Pacific Ltd., Class B | 76,051 | 142,218 |
The Wharf Holdings Ltd. | 62,000 | 464,858 |
Wheelock & Co., Ltd. | 51,000 | 313,859 |
3,454,399 | ||
Retailing 0.0% | ||
Esprit Holdings Ltd. * | 422,084 | 348,100 |
Transportation 0.0% | ||
MTR Corp., Ltd. | 53,000 | 293,306 |
Security | Number of Shares | Value ($) |
Utilities 0.2% | ||
CLP Holdings Ltd. | 95,500 | 970,756 |
Hong Kong & China Gas Co., Ltd. | 175,238 | 342,321 |
Power Assets Holdings Ltd. | 28,000 | 262,799 |
1,575,876 | ||
13,087,816 | ||
Ireland 0.6% | ||
Banks 0.0% | ||
Bank of Ireland * | 1,128,262 | 241,507 |
Commercial & Professional Supplies 0.1% | ||
Experian plc | 38,152 | 733,455 |
Food, Beverage & Tobacco 0.0% | ||
Kerry Group plc, Class A | 4,617 | 335,218 |
Materials 0.2% | ||
CRH plc | 55,423 | 1,799,256 |
Smurfit Kappa Group plc | 20,199 | 442,582 |
2,241,838 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
Shire plc | 12,619 | 712,503 |
Technology Hardware & Equipment 0.2% | ||
Seagate Technology plc | 51,793 | 1,777,018 |
6,041,539 | ||
Israel 0.4% | ||
Banks 0.1% | ||
Bank Hapoalim B.M. | 50,145 | 289,223 |
Bank Leumi Le-Israel B.M. * | 105,428 | 397,786 |
687,009 | ||
Materials 0.0% | ||
Israel Chemicals Ltd. | 102,557 | 364,444 |
Pharmaceuticals, Biotechnology & Life Sciences 0.2% | ||
Teva Pharmaceutical Industries Ltd. | 47,867 | 1,999,201 |
Software & Services 0.0% | ||
Check Point Software Technologies Ltd. * | 3,413 | 288,603 |
Telecommunication Services 0.1% | ||
Bezeq The Israeli Telecommunication Corp., Ltd. | 231,669 | 420,805 |
3,760,062 | ||
Italy 3.0% | ||
Banks 0.7% | ||
Banca Monte dei Paschi di Siena S.p.A. * | 1,516,500 | 406,183 |
Banca Popolare dell'Emilia Romagna SC | 51,617 | 242,552 |
Banco Popolare SC | 74,188 | 214,129 |
Intesa Sanpaolo S.p.A. | 1,165,782 | 2,703,064 |
UniCredit S.p.A. | 1,178,462 | 2,924,482 |
Unione di Banche Italiane S.p.A. (b) | 155,677 | 429,513 |
6,919,923 | ||
Capital Goods 0.1% | ||
Leonardo-Finmeccanica S.p.A. * | 29,248 | 356,137 |
Prysmian S.p.A. | 13,306 | 330,888 |
687,025 | ||
Consumer Durables & Apparel 0.0% | ||
Luxottica Group S.p.A. | 6,094 | 303,435 |
Diversified Financials 0.1% | ||
EXOR S.p.A. | 33,434 | 1,421,438 |
Security | Number of Shares | Value ($) |
Energy 1.0% | ||
Eni S.p.A. | 608,052 | 8,824,207 |
Saipem S.p.A. * | 1,063,612 | 437,370 |
9,261,577 | ||
Insurance 0.1% | ||
Assicurazioni Generali S.p.A. | 98,468 | 1,271,945 |
Poste Italiane S.p.A (d) | 20,381 | 135,670 |
1,407,615 | ||
Media 0.0% | ||
Mediaset S.p.A. | 105,135 | 300,658 |
Telecommunication Services 0.2% | ||
Telecom Italia S.p.A. * | 2,181,696 | 1,896,533 |
Transportation 0.1% | ||
Atlantia S.p.A. | 21,324 | 522,096 |
Utilities 0.7% | ||
Enel S.p.A. | 1,313,124 | 5,645,563 |
Snam S.p.A. | 146,667 | 772,762 |
Terna - Rete Elettrica Nationale S.p.A. | 78,247 | 383,013 |
6,801,338 | ||
29,521,638 | ||
Japan 22.2% | ||
Automobiles & Components 3.4% | ||
Aisin Seiki Co., Ltd. | 22,600 | 992,763 |
Bridgestone Corp. | 63,500 | 2,370,051 |
Calsonic Kansei Corp. | 30,000 | 375,978 |
Denso Corp. | 41,100 | 1,788,466 |
Fuji Heavy Industries Ltd. | 23,500 | 918,297 |
Honda Motor Co., Ltd. | 187,500 | 5,610,301 |
Isuzu Motors Ltd. | 58,000 | 717,411 |
Koito Manufacturing Co., Ltd. | 5,300 | 278,260 |
Mazda Motor Corp. | 49,000 | 812,605 |
Mitsubishi Motors Corp. | 99,700 | 553,473 |
NGK Spark Plug Co., Ltd. | 11,000 | 218,298 |
NHK Spring Co., Ltd. | 30,300 | 286,800 |
Nissan Motor Co., Ltd. | 279,600 | 2,844,226 |
Stanley Electric Co., Ltd. | 10,000 | 275,346 |
Sumitomo Electric Industries Ltd. | 94,500 | 1,396,093 |
Sumitomo Rubber Industries Ltd. | 23,300 | 390,887 |
Suzuki Motor Corp. | 36,700 | 1,308,586 |
The Yokohama Rubber Co., Ltd. | 15,800 | 274,329 |
Toyota Industries Corp. | 12,900 | 591,895 |
Toyota Motor Corp. | 181,318 | 10,517,661 |
Yamaha Motor Co., Ltd. | 24,300 | 539,825 |
33,061,551 | ||
Banks 1.3% | ||
Aozora Bank Ltd. | 56,000 | 185,027 |
Japan Post Bank Co., Ltd. | 16,300 | 192,095 |
Mitsubishi UFJ Financial Group, Inc. | 837,534 | 4,321,515 |
Mizuho Financial Group, Inc. | 1,649,216 | 2,776,871 |
Resona Holdings, Inc. | 181,158 | 802,979 |
Sumitomo Mitsui Financial Group, Inc. | 105,910 | 3,672,075 |
Sumitomo Mitsui Trust Holdings, Inc. | 18,700 | 630,990 |
12,581,552 | ||
Capital Goods 3.6% | ||
Asahi Glass Co., Ltd. | 181,000 | 1,265,879 |
Daikin Industries Ltd. | 10,300 | 987,046 |
Ebara Corp. | 10,400 | 308,744 |
FANUC Corp. | 6,200 | 1,135,142 |
Fuji Electric Co., Ltd. | 57,000 | 284,634 |
Furukawa Electric Co., Ltd. | 14,500 | 426,597 |
Hanwa Co., Ltd. | 61,000 | 373,218 |
Hino Motors Ltd. | 29,100 | 317,196 |
Security | Number of Shares | Value ($) |
Hitachi Construction Machinery Co., Ltd. | 15,100 | 315,863 |
IHI Corp. * | 180,000 | 473,529 |
ITOCHU Corp. | 141,300 | 1,784,434 |
JGC Corp. | 26,000 | 459,622 |
JTEKT Corp. | 24,100 | 356,644 |
Kajima Corp. | 59,000 | 397,869 |
Kawasaki Heavy Industries Ltd. | 132,000 | 385,558 |
Komatsu Ltd. | 90,200 | 2,007,771 |
Kubota Corp. | 47,700 | 768,845 |
LIXIL Group Corp. | 29,200 | 670,674 |
Makita Corp. | 5,400 | 373,358 |
Marubeni Corp. | 263,300 | 1,383,583 |
Mitsubishi Corp. | 150,900 | 3,284,332 |
Mitsubishi Electric Corp. | 171,000 | 2,313,489 |
Mitsubishi Heavy Industries Ltd. | 342,000 | 1,463,030 |
Mitsui & Co., Ltd. | 221,600 | 3,070,272 |
Nagase & Co., Ltd. | 23,300 | 298,004 |
NGK Insulators Ltd. | 10,000 | 183,547 |
Nidec Corp. | 5,500 | 532,180 |
NSK Ltd. | 33,700 | 374,627 |
Obayashi Corp. | 35,200 | 339,089 |
Shimizu Corp. | 43,000 | 382,169 |
SMC Corp. | 1,800 | 521,775 |
Sojitz Corp. | 291,400 | 764,713 |
Sumitomo Corp. | 141,000 | 1,621,021 |
Sumitomo Heavy Industries Ltd. | 74,000 | 389,574 |
Taisei Corp. | 60,000 | 449,703 |
Toshiba Corp. * | 770,000 | 2,788,033 |
TOTO Ltd. | 7,600 | 303,625 |
Toyota Tsusho Corp. | 45,600 | 1,076,547 |
34,631,936 | ||
Commercial & Professional Supplies 0.3% | ||
Dai Nippon Printing Co., Ltd. | 97,000 | 972,938 |
Recruit Holdings Co., Ltd. | 19,000 | 763,221 |
Secom Co., Ltd. | 10,500 | 757,461 |
Toppan Printing Co., Ltd. | 73,000 | 686,493 |
3,180,113 | ||
Consumer Durables & Apparel 1.0% | ||
Bandai Namco Holdings, Inc. | 17,200 | 515,243 |
Iida Group Holdings Co., Ltd. | 12,500 | 241,619 |
Nikon Corp. | 39,800 | 601,494 |
Panasonic Corp. | 288,150 | 2,972,515 |
Sega Sammy Holdings, Inc. | 24,300 | 358,810 |
Sekisui Chemical Co., Ltd. | 41,600 | 655,145 |
Sekisui House Ltd. | 52,600 | 869,148 |
Sharp Corp. *(b) | 436,000 | 756,497 |
Shimano, Inc. | 2,100 | 359,057 |
Sony Corp. | 79,800 | 2,515,156 |
Sumitomo Forestry Co., Ltd. | 17,500 | 243,779 |
10,088,463 | ||
Consumer Services 0.1% | ||
Benesse Holdings, Inc. | 8,900 | 233,200 |
Oriental Land Co., Ltd. | 5,500 | 321,271 |
554,471 | ||
Diversified Financials 0.2% | ||
Daiwa Securities Group, Inc. | 68,000 | 405,973 |
Nomura Holdings, Inc. | 192,800 | 965,722 |
ORIX Corp. | 56,900 | 901,660 |
2,273,355 | ||
Energy 0.7% | ||
Idemitsu Kosan Co., Ltd. | 45,300 | 1,040,989 |
Inpex Corp. | 162,800 | 1,518,723 |
JX Holdings, Inc. | 741,700 | 2,930,576 |
San-Ai Oil Co., Ltd. | 20,000 | 141,007 |
Security | Number of Shares | Value ($) |
Showa Shell Sekiyu K.K. | 42,200 | 393,190 |
TonenGeneral Sekiyu K.K. | 63,000 | 620,331 |
6,644,816 | ||
Food & Staples Retailing 0.4% | ||
Aeon Co., Ltd. | 89,100 | 1,231,330 |
Lawson, Inc. | 3,700 | 281,145 |
Seven & i Holdings Co., Ltd. | 64,700 | 2,700,533 |
4,213,008 | ||
Food, Beverage & Tobacco 0.8% | ||
Ajinomoto Co., Inc. | 30,400 | 676,018 |
Asahi Group Holdings Ltd. | 25,100 | 895,341 |
Coca-Cola West Co., Ltd. | 11,500 | 339,879 |
Japan Tobacco, Inc. | 46,800 | 1,779,342 |
Kewpie Corp. | 9,300 | 264,127 |
Kirin Holdings Co., Ltd. | 90,100 | 1,548,968 |
MEIJI Holdings Co., Ltd. | 5,300 | 528,623 |
NH Foods Ltd. | 23,000 | 551,163 |
Nisshin Seifun Group, Inc. | 17,930 | 264,113 |
Suntory Beverage & Food Ltd. | 7,400 | 323,560 |
Toyo Suisan Kaisha Ltd. | 7,000 | 283,596 |
Yamazaki Baking Co., Ltd. | 13,000 | 291,486 |
7,746,216 | ||
Health Care Equipment & Services 0.3% | ||
Alfresa Holdings Corp. | 26,900 | 568,504 |
Hoya Corp. | 22,300 | 930,445 |
Medipal Holdings Corp. | 32,300 | 551,884 |
Olympus Corp. | 8,100 | 288,728 |
Suzuken Co., Ltd. | 13,930 | 447,412 |
Terumo Corp. | 9,900 | 382,851 |
3,169,824 | ||
Household & Personal Products 0.2% | ||
Kao Corp. | 23,000 | 1,183,499 |
Shiseido Co., Ltd. | 21,200 | 546,834 |
Unicharm Corp. | 12,900 | 306,752 |
2,037,085 | ||
Insurance 0.4% | ||
Dai-ichi Life Holdings, Inc. | 54,300 | 796,091 |
Japan Post Holdings Co., Ltd. | 15,200 | 193,484 |
MS&AD Insurance Group Holdings, Inc. | 26,190 | 777,497 |
Sompo Holdings, Inc. | 23,100 | 747,442 |
T&D Holdings, Inc. | 39,450 | 477,063 |
Tokio Marine Holdings, Inc. | 33,700 | 1,329,241 |
4,320,818 | ||
Materials 2.0% | ||
Air Water, Inc. | 17,000 | 318,070 |
Asahi Kasei Corp. | 156,000 | 1,406,344 |
Daicel Corp. | 19,200 | 252,464 |
Denka Co., Ltd. | 63,000 | 285,805 |
DIC Corp. | 11,500 | 348,356 |
Dowa Holdings Co., Ltd. | 30,000 | 222,804 |
JFE Holdings, Inc. | 101,300 | 1,451,889 |
JSR Corp. | 19,200 | 291,772 |
Kaneka Corp. | 31,000 | 256,484 |
Kobe Steel Ltd. * | 77,200 | 637,078 |
Kuraray Co., Ltd. | 34,200 | 518,490 |
Mitsubishi Chemical Holdings Corp. | 201,400 | 1,322,377 |
Mitsubishi Materials Corp. | 15,400 | 441,225 |
Mitsui Chemicals, Inc. | 121,000 | 595,883 |
Mitsui Mining & Smelting Co., Ltd. | 129,000 | 287,411 |
Nippon Paper Industries Co., Ltd. | 21,400 | 400,537 |
Nippon Steel & Sumitomo Metal Corp. | 101,200 | 2,005,062 |
Nitto Denko Corp. | 10,700 | 745,451 |
Oji Holdings Corp. | 126,000 | 532,752 |
Security | Number of Shares | Value ($) |
Shin-Etsu Chemical Co., Ltd. | 23,300 | 1,766,637 |
Showa Denko K.K. | 31,100 | 410,933 |
Sumitomo Chemical Co., Ltd. | 162,000 | 766,159 |
Sumitomo Metal Mining Co., Ltd. | 57,000 | 740,706 |
Taiheiyo Cement Corp. | 134,000 | 383,763 |
Teijin Ltd. | 26,000 | 502,357 |
Toray Industries, Inc. | 103,000 | 958,613 |
Tosoh Corp. | 61,000 | 398,361 |
Toyo Seikan Group Holdings Ltd. | 22,700 | 418,705 |
Ube Industries Ltd. | 189,000 | 390,018 |
19,056,506 | ||
Media 0.1% | ||
Dentsu, Inc. | 11,901 | 593,255 |
Hakuhodo DY Holdings, Inc. | 29,800 | 358,159 |
951,414 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.8% | ||
Astellas Pharma, Inc. | 95,900 | 1,423,334 |
Chugai Pharmaceutical Co., Ltd. | 7,500 | 255,584 |
Daiichi Sankyo Co., Ltd. | 42,600 | 1,023,645 |
Eisai Co., Ltd. | 11,000 | 701,005 |
Kyowa Hakko Kirin Co., Ltd. | 14,000 | 213,613 |
Mitsubishi Tanabe Pharma Corp. | 13,100 | 254,985 |
Otsuka Holdings Co., Ltd. | 25,300 | 1,107,277 |
Shionogi & Co., Ltd. | 7,700 | 379,209 |
Takeda Pharmaceutical Co., Ltd. | 49,000 | 2,191,522 |
7,550,174 | ||
Real Estate 0.4% | ||
Daito Trust Construction Co., Ltd. | 4,600 | 770,862 |
Daiwa House Industry Co., Ltd. | 32,700 | 897,502 |
Mitsubishi Estate Co., Ltd. | 36,800 | 731,394 |
Mitsui Fudosan Co., Ltd. | 36,000 | 819,860 |
Sumitomo Realty & Development Co., Ltd. | 18,500 | 486,288 |
3,705,906 | ||
Retailing 0.4% | ||
Don Quijote Holdings Co., Ltd. | 6,600 | 250,863 |
Fast Retailing Co., Ltd. | 1,600 | 539,034 |
Isetan Mitsukoshi Holdings Ltd. | 44,500 | 449,738 |
J. Front Retailing Co., Ltd. | 26,700 | 367,561 |
K's Holdings Corp. | 16,800 | 290,740 |
Nitori Holdings Co., Ltd. | 3,200 | 382,246 |
Shimamura Co., Ltd. | 3,100 | 396,845 |
Takashimaya Co., Ltd. | 44,000 | 358,864 |
Yamada Denki Co., Ltd. | 146,800 | 758,807 |
3,794,698 | ||
Semiconductors & Semiconductor Equipment 0.1% | ||
Rohm Co., Ltd. | 7,600 | 399,491 |
Tokyo Electron Ltd. | 8,100 | 730,660 |
1,130,151 | ||
Software & Services 0.4% | ||
Fujitsu Ltd. | 351,000 | 2,081,825 |
Nintendo Co., Ltd. | 4,830 | 1,164,321 |
NTT Data Corp. | 9,800 | 505,731 |
3,751,877 | ||
Technology Hardware & Equipment 1.9% | ||
Alps Electric Co., Ltd. | 11,400 | 273,460 |
Brother Industries Ltd. | 30,600 | 561,487 |
Canon, Inc. | 117,100 | 3,364,050 |
FUJIFILM Holdings Corp. | 39,900 | 1,508,655 |
Hitachi Ltd. | 846,000 | 4,509,935 |
Ibiden Co., Ltd. | 19,600 | 284,533 |
Japan Display, Inc. * | 120,900 | 238,019 |
Keyence Corp. | 573 | 420,061 |
Konica Minolta, Inc. | 61,600 | 551,753 |
Security | Number of Shares | Value ($) |
Kyocera Corp. | 25,900 | 1,258,454 |
Murata Manufacturing Co., Ltd. | 5,700 | 795,956 |
NEC Corp. | 465,000 | 1,243,420 |
Nippon Electric Glass Co., Ltd. | 88,000 | 478,718 |
Omron Corp. | 16,000 | 614,093 |
Ricoh Co., Ltd. | 106,800 | 870,444 |
Seiko Epson Corp. | 26,700 | 541,151 |
TDK Corp. | 9,900 | 683,550 |
18,197,739 | ||
Telecommunication Services 1.4% | ||
KDDI Corp. | 117,200 | 3,562,078 |
Nippon Telegraph & Telephone Corp. | 98,808 | 4,380,833 |
NTT DOCOMO, Inc. | 110,500 | 2,775,095 |
SoftBank Group Corp. | 49,200 | 3,098,669 |
13,816,675 | ||
Transportation 1.1% | ||
ANA Holdings, Inc. | 114,000 | 320,200 |
Central Japan Railway Co. | 9,800 | 1,666,452 |
East Japan Railway Co. | 22,218 | 1,955,816 |
Hankyu Hanshin Holdings, Inc. | 14,400 | 476,757 |
Kawasaki Kisen Kaisha Ltd. (b) | 184,000 | 455,197 |
Kintetsu Group Holdings Co., Ltd. | 93,000 | 375,397 |
Mitsui O.S.K. Lines Ltd. | 263,000 | 657,679 |
Nagoya Railroad Co., Ltd. | 56,000 | 295,501 |
Nippon Express Co., Ltd. | 138,000 | 681,643 |
Nippon Yusen K.K. | 397,000 | 812,464 |
Odakyu Electric Railway Co., Ltd. | 13,500 | 275,450 |
Seino Holdings Co., Ltd. | 27,300 | 302,503 |
Tobu Railway Co., Ltd. | 66,000 | 324,029 |
Tokyu Corp. | 60,000 | 449,187 |
West Japan Railway Co. | 14,063 | 865,955 |
Yamato Holdings Co., Ltd. | 34,000 | 774,625 |
10,688,855 | ||
Utilities 0.9% | ||
Chubu Electric Power Co., Inc. | 90,000 | 1,324,922 |
Electric Power Development Co., Ltd. | 13,400 | 312,045 |
Hokuriku Electric Power Co. | 25,500 | 289,642 |
Kyushu Electric Power Co., Inc. | 45,300 | 411,622 |
Osaka Gas Co., Ltd. | 228,000 | 948,298 |
Shikoku Electric Power Co., Inc. | 17,400 | 163,622 |
The Chugoku Electric Power Co., Inc. | 39,000 | 456,355 |
The Kansai Electric Power Co., Inc. * | 96,700 | 924,478 |
Toho Gas Co., Ltd. | 34,000 | 315,294 |
Tohoku Electric Power Co., Inc. | 57,900 | 709,382 |
Tokyo Electric Power Co. Holdings, Inc. * | 360,700 | 1,397,561 |
Tokyo Gas Co., Ltd. | 274,000 | 1,243,266 |
8,496,487 | ||
215,643,690 | ||
Luxembourg 0.6% | ||
Energy 0.1% | ||
Tenaris S.A. | 41,225 | 583,076 |
Materials 0.4% | ||
ArcelorMittal * | 556,413 | 3,759,659 |
Media 0.1% | ||
RTL Group S.A. * | 4,047 | 317,168 |
SES S.A. | 16,554 | 380,843 |
698,011 | ||
Telecommunication Services 0.0% | ||
Millicom International Cellular S.A. SDR | 8,522 | 374,429 |
5,415,175 | ||
Security | Number of Shares | Value ($) |
Netherlands 5.5% | ||
Banks 0.3% | ||
ING Groep N.V. | 192,482 | 2,526,713 |
Capital Goods 0.3% | ||
Boskalis Westminster N.V. | 7,014 | 226,213 |
Koninklijke Philips N.V. | 77,124 | 2,323,913 |
2,550,126 | ||
Commercial & Professional Supplies 0.2% | ||
Randstad Holding N.V. | 11,252 | 578,722 |
RELX N.V. | 31,628 | 533,328 |
Wolters Kluwer N.V. | 12,053 | 466,093 |
1,578,143 | ||
Diversified Financials 0.0% | ||
SNS Reaal N.V. *(a)(b)(f) | 124,822 | — |
Energy 3.2% | ||
Fugro N.V. CVA * | 14,293 | 255,591 |
Royal Dutch Shell plc, A Shares | 607,928 | 15,147,966 |
Royal Dutch Shell plc, B Shares | 623,383 | 16,078,607 |
31,482,164 | ||
Food & Staples Retailing 0.4% | ||
Koninklijke Ahold Delhaize N.V. * | 182,238 | 4,157,286 |
Food, Beverage & Tobacco 0.1% | ||
Heineken Holding N.V. | 7,831 | 602,531 |
Heineken N.V. | 8,923 | 734,972 |
1,337,503 | ||
Household & Personal Products 0.3% | ||
Unilever N.V. CVA | 69,868 | 2,922,297 |
Insurance 0.2% | ||
Aegon N.V. | 211,469 | 914,803 |
Delta Lloyd N.V. | 69,197 | 418,042 |
NN Group N.V. | 8,590 | 258,753 |
1,591,598 | ||
Materials 0.2% | ||
Akzo Nobel N.V. | 17,691 | 1,143,034 |
Koninklijke DSM N.V. | 16,510 | 1,061,172 |
2,204,206 | ||
Semiconductors & Semiconductor Equipment 0.1% | ||
ASML Holding N.V. | 6,796 | 718,975 |
NXP Semiconductors N.V. * | 3,362 | 336,200 |
1,055,175 | ||
Software & Services 0.0% | ||
Gemalto N.V. | 3,348 | 181,902 |
Telecommunication Services 0.2% | ||
Koninklijke KPN N.V. | 395,501 | 1,289,630 |
VimpelCom Ltd. ADR | 61,335 | 204,859 |
1,494,489 | ||
53,081,602 | ||
New Zealand 0.1% | ||
Materials 0.0% | ||
Fletcher Building Ltd. | 76,898 | 569,666 |
Telecommunication Services 0.1% | ||
Spark New Zealand Ltd. | 224,262 | 586,531 |
1,156,197 | ||
Norway 0.9% | ||
Banks 0.1% | ||
DNB A.S.A. | 69,993 | 1,011,866 |
Security | Number of Shares | Value ($) |
Energy 0.4% | ||
Statoil A.S.A. | 268,321 | 4,380,610 |
Food, Beverage & Tobacco 0.1% | ||
Marine Harvest A.S.A. * | 22,484 | 408,001 |
Orkla A.S.A. | 60,034 | 566,866 |
974,867 | ||
Materials 0.2% | ||
Norsk Hydro A.S.A. | 160,062 | 715,596 |
Yara International A.S.A. | 23,051 | 814,259 |
1,529,855 | ||
Telecommunication Services 0.1% | ||
Telenor A.S.A. | 70,017 | 1,113,609 |
9,010,807 | ||
Portugal 0.2% | ||
Energy 0.1% | ||
Galp Energia, SGPS, S.A. | 47,322 | 641,604 |
Food & Staples Retailing 0.0% | ||
Jeronimo Martins, SGPS, S.A. | 16,366 | 281,219 |
Utilities 0.1% | ||
EDP - Energias de Portugal S.A. | 365,983 | 1,209,669 |
2,132,492 | ||
Singapore 0.8% | ||
Banks 0.3% | ||
DBS Group Holdings Ltd. | 82,556 | 889,847 |
Oversea-Chinese Banking Corp., Ltd. | 145,097 | 883,950 |
United Overseas Bank Ltd. | 65,052 | 877,592 |
2,651,389 | ||
Capital Goods 0.1% | ||
Keppel Corp., Ltd. | 176,200 | 666,326 |
Sembcorp Industries Ltd. | 146,100 | 264,560 |
930,886 | ||
Food, Beverage & Tobacco 0.1% | ||
Wilmar International Ltd. | 189,866 | 450,764 |
Media 0.0% | ||
Singapore Press Holdings Ltd. | 111,600 | 298,238 |
Real Estate 0.0% | ||
CapitaLand Ltd. | 101,500 | 225,118 |
Retailing 0.0% | ||
Jardine Cycle & Carriage Ltd. | 11,600 | 351,273 |
Technology Hardware & Equipment 0.1% | ||
Flex Ltd. * | 52,315 | 742,350 |
Telecommunication Services 0.1% | ||
Singapore Telecommunications Ltd. | 471,086 | 1,312,882 |
Transportation 0.1% | ||
ComfortDelGro Corp., Ltd. | 126,100 | 229,908 |
Singapore Airlines Ltd. | 63,370 | 461,140 |
691,048 | ||
7,653,948 | ||
Spain 4.2% | ||
Banks 1.8% | ||
Banco Bilbao Vizcaya Argentaria S.A. | 524,838 | 3,778,145 |
Banco De Sabadell S.A. | 323,891 | 432,468 |
Banco Popular Espanol S.A. | 359,164 | 392,973 |
Banco Santander S.A. | 2,533,618 | 12,414,793 |
CaixaBank S.A. | 194,573 | 587,102 |
17,605,481 |
Security | Number of Shares | Value ($) |
Capital Goods 0.1% | ||
ACS Actividades de Construccion y Servicios S.A. | 24,508 | 749,667 |
Ferrovial S.A. | 31,515 | 612,269 |
1,361,936 | ||
Energy 0.4% | ||
Repsol S.A. | 306,041 | 4,273,094 |
Food & Staples Retailing 0.0% | ||
Distribuidora Internacional de Alimentacion S.A. | 49,303 | 263,332 |
Insurance 0.1% | ||
Mapfre S.A. | 150,862 | 447,521 |
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Grifols S.A. | 5,600 | 110,501 |
Retailing 0.1% | ||
Industria de Diseno Textil S.A. | 29,522 | 1,030,094 |
Software & Services 0.1% | ||
Amadeus IT Group S.A. | 9,749 | 458,825 |
Telecommunication Services 0.8% | ||
Telefonica S.A. | 803,502 | 8,164,065 |
Transportation 0.1% | ||
Abertis Infraestructuras S.A. | 40,584 | 601,561 |
Utilities 0.7% | ||
Acciona S.A. | 3,976 | 302,150 |
Enagas S.A. | 11,896 | 340,998 |
Endesa S.A. | 65,215 | 1,384,229 |
Gas Natural SDG S.A. | 37,780 | 743,673 |
Iberdrola S.A. | 471,230 | 3,206,931 |
Red Electrica Corp. S.A. | 17,996 | 374,901 |
6,352,882 | ||
40,669,292 | ||
Sweden 2.1% | ||
Automobiles & Components 0.1% | ||
Autoliv, Inc. | 5,407 | 523,289 |
Banks 0.5% | ||
Nordea Bank AB | 192,138 | 2,019,202 |
Skandinaviska Enskilda Banken AB, A Shares | 67,906 | 684,926 |
Svenska Handelsbanken AB, A Shares | 68,740 | 937,141 |
Swedbank AB, A Shares | 51,465 | 1,204,241 |
4,845,510 | ||
Capital Goods 0.7% | ||
Alfa Laval AB | 18,018 | 258,498 |
Assa Abloy AB, Class B | 27,693 | 503,277 |
Atlas Copco AB, A Shares | 35,609 | 1,043,168 |
Atlas Copco AB, B Shares | 15,809 | 412,941 |
NCC AB, B Shares | 7,976 | 202,686 |
Sandvik AB | 92,417 | 1,049,987 |
Skanska AB, B Shares | 33,903 | 736,257 |
SKF AB, B Shares | 32,923 | 557,648 |
Trelleborg AB, B Shares | 14,097 | 246,062 |
Volvo AB, A Shares | 21,208 | 226,935 |
Volvo AB, B Shares | 136,972 | 1,469,147 |
6,706,606 | ||
Commercial & Professional Supplies 0.0% | ||
Securitas AB, B Shares | 26,104 | 402,886 |
Consumer Durables & Apparel 0.0% | ||
Bonava AB * | 1,877 | 23,192 |
Electrolux AB, B Shares | 19,195 | 454,314 |
477,506 |
Security | Number of Shares | Value ($) |
Food, Beverage & Tobacco 0.0% | ||
Swedish Match AB | 10,133 | 352,630 |
Health Care Equipment & Services 0.0% | ||
Getinge AB, B Shares | 11,563 | 189,350 |
Household & Personal Products 0.1% | ||
Svenska Cellulosa AB, S.C.A., B Shares | 32,306 | 914,996 |
Materials 0.1% | ||
Boliden AB | 28,227 | 654,201 |
SSAB AB, A Shares *(b) | 31,800 | 100,860 |
SSAB AB, B Shares * | 71,039 | 188,547 |
943,608 | ||
Retailing 0.2% | ||
Hennes & Mauritz AB, B Shares | 52,957 | 1,489,291 |
Technology Hardware & Equipment 0.2% | ||
Hexagon AB, B Shares | 6,106 | 213,662 |
Telefonaktiebolaget LM Ericsson, B Shares | 324,383 | 1,573,536 |
1,787,198 | ||
Telecommunication Services 0.2% | ||
Tele2 AB, B Shares | 87,265 | 720,594 |
Telia Co. AB | 360,802 | 1,441,350 |
2,161,944 | ||
20,794,814 | ||
Switzerland 6.1% | ||
Capital Goods 0.5% | ||
ABB Ltd. - Reg'd * | 143,256 | 2,955,431 |
Geberit AG - Reg'd | 1,017 | 429,956 |
Schindler Holding AG | 1,497 | 278,108 |
Schindler Holding AG - Reg'd | 150 | 27,766 |
Wolseley plc | 21,283 | 1,103,938 |
4,795,199 | ||
Commercial & Professional Supplies 0.2% | ||
Adecco Group AG | 18,176 | 1,079,290 |
SGS S.A. - Reg'd | 229 | 463,517 |
1,542,807 | ||
Consumer Durables & Apparel 0.2% | ||
Cie Financiere Richemont S.A. - Reg'd | 24,791 | 1,593,810 |
The Swatch Group AG - Bearer Shares | 1,913 | 575,348 |
The Swatch Group AG - Reg'd | 3,510 | 202,344 |
2,371,502 | ||
Diversified Financials 0.3% | ||
Credit Suisse Group AG - Reg'd | 128,335 | 1,790,629 |
Julius Baer Group Ltd. * | 4,471 | 180,993 |
UBS Group AG - Reg’d * | 82,201 | 1,162,130 |
3,133,752 | ||
Food, Beverage & Tobacco 1.1% | ||
Aryzta AG * | 6,263 | 275,205 |
Chocoladefabriken Lindt & Spruengli AG | 20 | 103,856 |
Chocoladefabriken Lindt & Spruengli AG - Reg'd | 2 | 124,097 |
Coca-Cola HBC AG CDI * | 15,986 | 344,976 |
Nestle S.A. - Reg'd | 140,489 | 10,187,401 |
11,035,535 | ||
Insurance 0.7% | ||
Baloise Holding AG - Reg'd | 2,413 | 296,870 |
Swiss Life Holding AG - Reg'd * | 1,536 | 406,476 |
Security | Number of Shares | Value ($) |
Swiss Re AG | 26,902 | 2,496,820 |
Zurich Insurance Group AG * | 13,492 | 3,531,619 |
6,731,785 | ||
Materials 1.3% | ||
Clariant AG - Reg'd * | 13,413 | 222,112 |
Givaudan S.A. - Reg'd | 285 | 551,210 |
Glencore plc * | 2,849,926 | 8,723,925 |
LafargeHolcim Ltd. - Reg'd * | 27,733 | 1,479,298 |
Sika AG | 77 | 370,097 |
Syngenta AG - Reg'd | 3,800 | 1,520,630 |
12,867,272 | ||
Pharmaceuticals, Biotechnology & Life Sciences 1.5% | ||
Actelion Ltd. - Reg'd * | 1,471 | 212,554 |
Lonza Group AG - Reg'd * | 1,525 | 287,770 |
Novartis AG - Reg'd | 104,443 | 7,412,067 |
Roche Holding AG | 25,871 | 5,942,091 |
Roche Holding AG - Bearer Shares | 949 | 220,562 |
14,075,044 | ||
Semiconductors & Semiconductor Equipment 0.1% | ||
STMicroelectronics N.V. | 81,295 | 774,207 |
Technology Hardware & Equipment 0.1% | ||
TE Connectivity Ltd. | 16,826 | 1,057,851 |
Telecommunication Services 0.1% | ||
Swisscom AG - Reg'd | 1,658 | 757,910 |
Transportation 0.0% | ||
Kuehne & Nagel International AG - Reg'd | 3,093 | 419,232 |
59,562,096 | ||
United Kingdom 15.3% | ||
Automobiles & Components 0.2% | ||
Fiat Chrysler Automobiles N.V. | 146,129 | 1,071,261 |
GKN plc | 122,751 | 478,707 |
1,549,968 | ||
Banks 2.2% | ||
Barclays plc | 1,684,879 | 3,903,539 |
HSBC Holdings plc | 1,580,761 | 11,904,927 |
Lloyds Banking Group plc | 3,571,430 | 2,494,012 |
Royal Bank of Scotland Group plc * | 246,896 | 570,554 |
Standard Chartered plc * | 301,619 | 2,622,852 |
21,495,884 | ||
Capital Goods 0.7% | ||
Ashtead Group plc | 15,663 | 244,053 |
BAE Systems plc | 239,049 | 1,583,880 |
Balfour Beatty plc | 102,203 | 338,855 |
Bunzl plc | 14,776 | 396,696 |
Carillion plc | 59,926 | 183,639 |
CNH Industrial N.V. | 83,188 | 645,842 |
Cobham plc | 104,490 | 182,309 |
DCC plc | 5,113 | 415,991 |
IMI plc | 20,176 | 245,068 |
Meggitt plc | 50,249 | 267,322 |
Rolls-Royce Holdings plc *(a)(f) | 7,391,648 | 9,047 |
Rolls-Royce Holdings plc * | 165,841 | 1,472,107 |
Smiths Group plc | 28,407 | 492,241 |
The Weir Group plc | 19,010 | 394,891 |
Travis Perkins plc | 19,406 | 315,725 |
7,187,666 | ||
Commercial & Professional Supplies 0.2% | ||
Aggreko plc | 21,981 | 214,920 |
Babcock International Group plc | 20,706 | 250,291 |
Capita plc | 22,946 | 164,245 |
G4S plc | 148,938 | 400,066 |
Security | Number of Shares | Value ($) |
Intertek Group plc | 5,564 | 232,142 |
RELX plc | 31,701 | 565,867 |
1,827,531 | ||
Consumer Durables & Apparel 0.1% | ||
Barratt Developments plc | 29,373 | 162,886 |
Burberry Group plc | 22,598 | 407,557 |
Persimmon plc | 10,903 | 225,690 |
Taylor Wimpey plc | 102,685 | 177,824 |
The Berkeley Group Holdings plc | 6,243 | 180,057 |
1,154,014 | ||
Consumer Services 0.3% | ||
Carnival plc | 8,041 | 387,841 |
Compass Group plc | 76,042 | 1,375,925 |
InterContinental Hotels Group plc | 9,828 | 381,018 |
Whitbread plc | 6,600 | 291,556 |
William Hill plc | 48,035 | 173,765 |
2,610,105 | ||
Diversified Financials 0.1% | ||
3i Group plc | 30,853 | 252,908 |
Investec plc | 28,219 | 175,133 |
Man Group plc | 211,386 | 322,266 |
750,307 | ||
Energy 2.6% | ||
Amec Foster Wheeler plc | 54,481 | 297,244 |
BP plc | 4,016,732 | 23,745,732 |
John Wood Group plc | 42,033 | 395,075 |
Petrofac Ltd. | 26,392 | 259,922 |
Subsea 7 S.A. * | 44,911 | 502,750 |
Tullow Oil plc *(b) | 97,906 | 316,112 |
25,516,835 | ||
Food & Staples Retailing 0.8% | ||
Booker Group plc | 122,114 | 267,828 |
J. Sainsbury plc | 482,389 | 1,479,025 |
Tesco plc * | 1,748,899 | 4,504,613 |
WM Morrison Supermarkets plc | 619,623 | 1,715,280 |
7,966,746 | ||
Food, Beverage & Tobacco 1.1% | ||
Associated British Foods plc | 16,132 | 485,235 |
British American Tobacco plc | 88,756 | 5,086,867 |
Coca-Cola European Partners plc | 11,342 | 435,986 |
Diageo plc | 87,157 | 2,319,817 |
Imperial Brands plc | 48,821 | 2,361,561 |
Tate & Lyle plc | 44,418 | 423,613 |
11,113,079 | ||
Health Care Equipment & Services 0.1% | ||
Smith & Nephew plc | 33,003 | 477,103 |
Household & Personal Products 0.4% | ||
Reckitt Benckiser Group plc | 19,903 | 1,780,532 |
Unilever plc | 52,807 | 2,204,650 |
3,985,182 | ||
Insurance 0.6% | ||
Admiral Group plc | 10,625 | 248,935 |
Aviva plc | 206,057 | 1,116,577 |
Direct Line Insurance Group plc | 99,056 | 419,064 |
Legal & General Group plc | 251,238 | 642,730 |
Old Mutual plc | 307,460 | 756,333 |
Phoenix Group Holdings | 23,052 | 205,931 |
Prudential plc | 78,305 | 1,277,849 |
RSA Insurance Group plc | 74,554 | 503,362 |
Standard Life plc | 133,803 | 552,160 |
Willis Towers Watson plc | 3,007 | 378,581 |
6,101,522 |
Security | Number of Shares | Value ($) |
Materials 1.8% | ||
Anglo American plc * | 373,675 | 5,186,312 |
Antofagasta plc | 59,514 | 395,831 |
BHP Billiton plc | 332,319 | 4,997,102 |
DS Smith plc | 49,736 | 242,522 |
Johnson Matthey plc | 20,185 | 841,376 |
Mondi plc | 22,252 | 434,260 |
Rio Tinto plc | 154,398 | 5,369,238 |
17,466,641 | ||
Media 0.5% | ||
Informa plc | 28,092 | 231,116 |
ITV plc | 131,935 | 275,051 |
Liberty Global plc, Class A * | 13,016 | 424,322 |
Liberty Global plc, Series C * | 27,384 | 870,811 |
Pearson plc | 81,710 | 755,929 |
Sky plc | 57,448 | 574,322 |
WPP plc | 54,786 | 1,189,571 |
4,321,122 | ||
Pharmaceuticals, Biotechnology & Life Sciences 1.2% | ||
AstraZeneca plc | 97,506 | 5,459,857 |
GlaxoSmithKline plc | 311,449 | 6,152,465 |
11,612,322 | ||
Real Estate 0.0% | ||
Land Securities Group plc | 26,896 | 328,416 |
Retailing 0.3% | ||
Debenhams plc | 180,435 | 118,501 |
Inchcape plc | 47,463 | 377,365 |
Kingfisher plc | 268,342 | 1,185,379 |
Marks & Spencer Group plc | 197,819 | 823,083 |
Next plc | 8,655 | 509,207 |
3,013,535 | ||
Software & Services 0.1% | ||
The Sage Group plc | 49,745 | 438,898 |
Telecommunication Services 1.0% | ||
BT Group plc | 367,097 | 1,684,989 |
Inmarsat plc | 26,963 | 231,290 |
Vodafone Group plc | 2,883,427 | 7,918,827 |
9,835,106 | ||
Transportation 0.1% | ||
easyJet plc | 16,208 | 185,866 |
FirstGroup plc * | 295,053 | 395,206 |
International Consolidated Airlines Group S.A. | 32,160 | 170,540 |
Royal Mail plc | 92,550 | 555,253 |
1,306,865 | ||
Utilities 0.9% | ||
Centrica plc | 808,689 | 2,118,163 |
Drax Group plc | 79,113 | 306,533 |
National Grid plc | 234,556 | 3,051,052 |
Pennon Group plc | 23,128 | 236,038 |
Severn Trent plc | 14,011 | 398,840 |
SSE plc | 102,959 | 2,001,836 |
United Utilities Group plc | 39,581 | 454,978 |
8,567,440 | ||
148,626,287 | ||
Total Common Stock | ||
(Cost $1,038,626,509) | 956,039,183 | |
Security | Number of Shares | Value ($) |
Preferred Stock 0.7% of net assets | ||
Germany 0.6% | ||
Automobiles & Components 0.5% | ||
Bayerische Motoren Werke AG | 6,254 | 474,839 |
Volkswagen AG | 29,270 | 4,035,616 |
4,510,455 | ||
Household & Personal Products 0.1% | ||
Henkel AG & Co. KGaA | 7,074 | 909,226 |
Materials 0.0% | ||
Fuchs Petrolub SE | 4,564 | 204,280 |
Utilities 0.0% | ||
RWE AG, Non Voting Shares | 18,565 | 214,733 |
5,838,694 | ||
Italy 0.1% | ||
Banks 0.0% | ||
Intesa Sanpaolo S.p.A. - RSP | 69,978 | 151,506 |
Telecommunication Services 0.1% | ||
Telecom Italia S.p.A. - RSP * | 1,256,662 | 892,039 |
1,043,545 | ||
Spain 0.0% | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Grifols S.A., Class B | 6,295 | 90,419 |
Total Preferred Stock | ||
(Cost $8,293,244) | 6,972,658 | |
Rights 0.0% of net assets | ||
Italy 0.0% | ||
Diversified Financials 0.0% | ||
EXOR S.p.A. *(a)(f) | 33,434 | — |
Spain 0.0% | ||
Capital Goods 0.0% | ||
Ferrovial S.A. expires 02/24/17* | 31,515 | 13,492 |
Sweden 0.0% | ||
Telecommunication Services 0.0% | ||
Tele2 AB expires 01/26/17*(a)(f) | 87,265 | 26,147 |
Total Rights | ||
(Cost $14,095) | 39,639 | |
Other Investment Company 0.7% of net assets | ||
United States 0.7% | ||
Securities Lending Collateral 0.7% | ||
Wells Fargo Government Money Market Fund, Select Class 0.32% (c) | 6,974,447 | 6,974,447 |
Total Other Investment Company | ||
(Cost $6,974,447) | 6,974,447 |
Security Rate, Maturity Date | Face Amount Local Currency | Value ($) |
Short-Term Investments 0.5% of net assets | ||
Time Deposits 0.5% | ||
Bank of Montreal | ||
Canadian Dollar | ||
0.05%, 11/01/16 (e) | 124,911 | 93,127 |
Brown Brothers Harriman | ||
Australian Dollar | ||
0.48%, 11/01/16 (e) | 15,645 | 11,901 |
Danish Krone | ||
(0.50%), 11/01/16 (e) | 12,523 | 1,848 |
Hong Kong Dollar | ||
0.01%, 11/01/16 (e) | 43,069 | 5,553 |
New Zealand Dollar | ||
0.75%, 11/01/16 (e) | 2,920 | 2,088 |
Norwegian Krone | ||
0.09%, 11/01/16 (e) | 12,346 | 1,494 |
Singapore Dollar | ||
0.01%, 11/01/16 (e) | 3,178 | 2,284 |
Swiss Franc | ||
(1.45%), 11/01/16 (e) | 111,963 | 113,146 |
DNB | ||
Euro | ||
(0.57%), 11/01/16 (e) | 70,770 | 77,688 |
Skandinaviska Enskilda Banken | ||
Swedish Krone | ||
(1.05%), 11/01/16 (e) | 476,299 | 52,734 |
Sumitomo Mitsui Banking Corp. | ||
Great British Pound | ||
0.05%, 11/01/16 (e) | 63,309 | 77,490 |
Japanese Yen | ||
(0.42%), 11/01/16 (e) | 4,453,637 | 42,468 |
U.S. Dollar | ||
0.15%, 11/01/16 (e) | 3,760,443 | 3,760,443 |
Total Short-Term Investments | ||
(Cost $4,242,264) | 4,242,264 |
* | Non-income producing security. |
(a) | Illiquid security. At the period end, the value of these amounted to $101,213 or 0.0% of net assets. |
(b) | All or a portion of this security is on loan. Securities on loan were valued at $6,449,085. |
(c) | The rate shown is the 7-day yield. |
(d) | Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $135,670 or 0.0% of net assets. |
(e) | The rate shown is the current daily overnight rate. |
(f) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
ADR — | American Depositary Receipt |
CDI — | CHESS Depositary Interest |
CVA — | Dutch Certificate |
Reg'd — | Registered |
REIT — | Real Estate Investment Trust |
RSP — | Risparmio (Convertible Savings Shares) |
SDR — | Swedish Depositary Receipt |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
MSCI EAFE, e-mini, Long, expires 12/16/16 | 85 | 7,079,225 | (159,730) |
Holdings by Category | Cost ($) | Value ($) | |
98.1% | Common Stock | 418,316,515 | 466,853,667 |
0.3% | Preferred Stock | 1,291,278 | 1,378,729 |
0.0% | Rights | — | 4,584 |
2.7% | Other Investment Company | 12,674,005 | 12,674,005 |
1.1% | Short-Term Investments | 5,042,424 | 5,042,424 |
102.2% | Total Investments | 437,324,222 | 485,953,409 |
(2.2%) | Other Assets and Liabilities, Net | (10,328,425) | |
100.0% | Net Assets | 475,624,984 |
Security | Number of Shares | Value ($) |
Common Stock 98.1% of net assets | ||
Australia 6.2% | ||
Banks 0.1% | ||
Bank of Queensland Ltd. | 59,105 | 469,004 |
Genworth Mortgage Insurance Australia Ltd. | 56,240 | 130,727 |
599,731 | ||
Capital Goods 0.4% | ||
GWA Group Ltd. | 129,443 | 280,582 |
Monadelphous Group Ltd. | 86,770 | 613,178 |
Seven Group Holdings Ltd. | 44,967 | 309,937 |
UGL Ltd. * | 328,993 | 803,126 |
2,006,823 | ||
Commercial & Professional Supplies 0.5% | ||
ALS Ltd. | 181,573 | 857,938 |
Cleanaway Waste Management Ltd. | 592,545 | 521,722 |
McMillan Shakespeare Ltd. | 7,380 | 60,628 |
Programmed Maintenance Services Ltd. | 92,995 | 101,353 |
SAI Global Ltd. | 61,802 | 219,762 |
SEEK Ltd. | 22,255 | 247,171 |
Spotless Group Holdings Ltd. | 357,411 | 271,131 |
2,279,705 | ||
Consumer Durables & Apparel 0.1% | ||
G.U.D. Holdings Ltd. | 33,978 | 245,089 |
Consumer Services 0.5% | ||
Ardent Leisure Group | 119,702 | 183,298 |
Aristocrat Leisure Ltd. | 27,247 | 317,233 |
Crown Resorts Ltd. | 73,118 | 604,482 |
Flight Centre Travel Group Ltd. | 11,597 | 297,966 |
InvoCare Ltd. | 13,642 | 135,358 |
Navitas Ltd. | 59,139 | 235,174 |
The Star Entertainment Grp Ltd. | 133,544 | 505,323 |
2,278,834 | ||
Diversified Financials 0.3% | ||
ASX Ltd. | 17,988 | 643,451 |
Challenger Ltd. | 63,950 | 522,057 |
IOOF Holdings Ltd. | 48,804 | 303,816 |
Perpetual Ltd. | 6,810 | 233,840 |
1,703,164 |
Security | Number of Shares | Value ($) |
Energy 0.3% | ||
AWE Ltd. * | 276,841 | 113,376 |
Beach Energy Ltd. | 560,747 | 305,224 |
Washington H Soul Pattinson & Co., Ltd. | 8,435 | 101,911 |
Whitehaven Coal Ltd. * | 388,106 | 892,539 |
1,413,050 | ||
Food, Beverage & Tobacco 0.3% | ||
Bega Cheese Ltd. | 33,375 | 124,994 |
GrainCorp Ltd., Class A | 104,888 | 668,842 |
Treasury Wine Estates Ltd. | 80,258 | 654,293 |
1,448,129 | ||
Health Care Equipment & Services 0.7% | ||
Ansell Ltd. | 25,146 | 414,281 |
Australian Pharmaceutical Industries Ltd. | 218,833 | 315,443 |
Cochlear Ltd. | 5,154 | 500,769 |
Healthscope Ltd. | 84,327 | 141,457 |
Primary Health Care Ltd. | 211,509 | 616,503 |
Ramsay Health Care Ltd. | 10,524 | 586,028 |
Sigma Pharmaceuticals Ltd. | 758,132 | 765,101 |
3,339,582 | ||
Insurance 0.1% | ||
nib Holdings Ltd. | 98,640 | 361,232 |
Materials 0.7% | ||
Adelaide Brighton Ltd. | 101,944 | 414,187 |
DuluxGroup Ltd. | 55,224 | 270,078 |
Mineral Resources Ltd. | 51,906 | 456,637 |
Nufarm Ltd. | 51,233 | 343,927 |
OceanaGold Corp. | 68,672 | 209,912 |
Orora Ltd. | 218,000 | 480,380 |
OZ Minerals Ltd. | 175,316 | 895,750 |
Resolute Mining Ltd. | 69,608 | 82,224 |
Western Areas Ltd. * | 82,204 | 154,183 |
3,307,278 | ||
Media 0.4% | ||
APN News & Media Ltd. * | 55,963 | 113,825 |
Event Hospitality and Entertainment Ltd. | 17,634 | 187,580 |
Fairfax Media Ltd. | 1,029,079 | 644,596 |
Nine Entertainment Co. Holdings Ltd. | 252,406 | 164,650 |
NZME Ltd. | 11,203 | 5,326 |
Seven West Media Ltd. | 638,210 | 328,869 |
Southern Cross Media Group Ltd. | 234,442 | 255,931 |
Village Roadshow Ltd. | 45,760 | 176,918 |
1,877,695 | ||
Real Estate 0.6% | ||
Charter Hall Retail REIT | 44,770 | 140,983 |
Cromwell Property Group | 84,667 | 58,544 |
Dexus Property Group | 111,728 | 758,983 |
Goodman Group | 134,185 | 691,659 |
Investa Office Fund | 67,331 | 216,867 |
The GPT Group | 172,877 | 611,185 |
Vicinity Centres | 215,414 | 469,766 |
2,947,987 |
Security | Number of Shares | Value ($) |
Retailing 0.6% | ||
AP Eagers Ltd. | 13,490 | 100,521 |
Automotive Holdings Group Ltd. | 112,022 | 344,327 |
Harvey Norman Holdings Ltd. | 122,896 | 470,638 |
JB Hi-Fi Ltd. | 33,220 | 716,121 |
Myer Holdings Ltd. | 793,959 | 707,665 |
Premier Investments Ltd. | 19,214 | 206,773 |
Super Retail Group Ltd. | 36,563 | 271,817 |
2,817,862 | ||
Software & Services 0.2% | ||
carsales.com Ltd. | 19,598 | 158,611 |
Computershare Ltd. | 82,169 | 658,199 |
IRESS Ltd. | 17,270 | 148,716 |
965,526 | ||
Telecommunication Services 0.0% | ||
TPG Telecom Ltd. | 7,816 | 44,817 |
Transportation 0.3% | ||
Qantas Airways Ltd. | 340,806 | 791,974 |
Qube Holdings Ltd. | 100,747 | 170,554 |
Sydney Airport | 90,657 | 430,964 |
Virgin Australia International Holdings (b)(f) | 176,214 | — |
1,393,492 | ||
Utilities 0.1% | ||
AusNet Services | 388,217 | 442,202 |
29,472,198 | ||
Austria 0.9% | ||
Capital Goods 0.2% | ||
ANDRITZ AG | 11,219 | 586,590 |
Zumtobel Group AG | 9,096 | 159,557 |
746,147 | ||
Energy 0.0% | ||
Schoeller-Bleckmann Oilfield Equipment AG | 2,681 | 189,956 |
Insurance 0.1% | ||
UNIQA Insurance Group AG | 21,092 | 135,859 |
Vienna Insurance Group AG Wiener Versicherung Gruppe | 16,473 | 324,645 |
460,504 | ||
Materials 0.2% | ||
Lenzing AG | 2,209 | 287,718 |
RHI AG | 12,620 | 317,624 |
Wienerberger AG | 32,922 | 526,113 |
1,131,455 | ||
Real Estate 0.1% | ||
BUWOG AG * | 3,885 | 93,900 |
CA Immobilien Anlagen AG * | 3,865 | 70,126 |
Conwert Immobilien Invest SE * | 4,224 | 74,932 |
IMMOFINANZ AG * | 143,486 | 308,807 |
547,765 | ||
Semiconductors & Semiconductor Equipment 0.0% | ||
ams AG | 5,278 | 147,789 |
Technology Hardware & Equipment 0.0% | ||
Austria Technologie & Systemtechnik AG (a) | 5,707 | 63,177 |
Telecommunication Services 0.1% | ||
Telekom Austria AG * | 39,607 | 227,482 |
Transportation 0.1% | ||
Oesterreichische Post AG * | 12,110 | 417,823 |
Security | Number of Shares | Value ($) |
Utilities 0.1% | ||
Verbund AG | 14,332 | 239,022 |
4,171,120 | ||
Belgium 1.1% | ||
Capital Goods 0.0% | ||
Cie d'Entreprises CFE | 680 | 74,955 |
Diversified Financials 0.1% | ||
Ackermans & van Haaren N.V. | 1,694 | 235,127 |
Gimv N.V. | 5,608 | 301,822 |
536,949 | ||
Energy 0.0% | ||
Euronav N.V. | 7,401 | 57,904 |
Health Care Equipment & Services 0.0% | ||
AGFA-Gevaert N.V. * | 43,673 | 181,510 |
Household & Personal Products 0.0% | ||
Ontex Group N.V. | 6,919 | 209,287 |
Materials 0.3% | ||
Bekaert N.V. | 14,955 | 664,843 |
Nyrstar N.V. *(a) | 43,828 | 225,165 |
Tessenderlo Chemie N.V. * | 8,333 | 278,203 |
1,168,211 | ||
Media 0.1% | ||
Telenet Group Holding N.V. * | 12,455 | 666,859 |
Real Estate 0.1% | ||
Befimmo S.A. | 2,802 | 163,307 |
Cofinimmo S.A. | 2,490 | 291,524 |
454,831 | ||
Retailing 0.1% | ||
D'ieteren S.A./N.V. | 5,981 | 263,669 |
Technology Hardware & Equipment 0.1% | ||
Barco N.V. | 3,874 | 304,492 |
EVS Broadcast Equipment S.A. | 4,537 | 158,554 |
463,046 | ||
Telecommunication Services 0.1% | ||
Orange Belgium S.A. * | 16,792 | 378,197 |
Transportation 0.1% | ||
bpost S.A. | 18,445 | 490,720 |
Utilities 0.1% | ||
Elia System Operator S.A./N.V. | 8,083 | 418,303 |
5,364,441 | ||
Canada 8.1% | ||
Automobiles & Components 0.1% | ||
Linamar Corp. | 10,832 | 440,532 |
Martinrea International, Inc. | 38,171 | 223,966 |
664,498 | ||
Banks 0.2% | ||
Canadian Western Bank | 14,739 | 279,660 |
Genworth MI Canada, Inc. (a) | 14,005 | 304,157 |
Home Capital Group, Inc. (a) | 10,370 | 205,266 |
Laurentian Bank of Canada | 7,111 | 262,799 |
1,051,882 | ||
Capital Goods 0.7% | ||
Aecon Group, Inc. | 31,072 | 401,691 |
Ag Growth International, Inc. | 5,362 | 186,409 |
ATS Automation Tooling Systems, Inc. * | 17,356 | 148,806 |
Bird Construction, Inc. | 16,919 | 138,753 |
CAE, Inc. | 43,019 | 604,248 |
Security | Number of Shares | Value ($) |
MacDonald, Dettwiler & Associates Ltd. | 4,799 | 274,673 |
New Flyer Industries, Inc. | 6,192 | 173,116 |
Richelieu Hardware Ltd. | 5,014 | 96,407 |
Russel Metals, Inc. | 39,717 | 632,191 |
Toromont Industries Ltd. | 14,581 | 428,310 |
WSP Global, Inc. | 10,423 | 337,642 |
3,422,246 | ||
Commercial & Professional Supplies 0.6% | ||
Morneau Shepell, Inc. | 13,612 | 203,373 |
Ritchie Bros. Auctioneers, Inc. | 9,355 | 323,481 |
Stantec, Inc. | 14,248 | 316,976 |
Transcontinental, Inc., Class A | 31,720 | 424,258 |
Waste Connections, Inc. | 19,634 | 1,473,465 |
2,741,553 | ||
Consumer Durables & Apparel 0.2% | ||
Dorel Industries, Inc., Class B | 18,436 | 468,013 |
Gildan Activewear, Inc. | 22,599 | 580,433 |
1,048,446 | ||
Consumer Services 0.1% | ||
EnerCare, Inc. | 12,940 | 186,966 |
Great Canadian Gaming Corp. * | 11,827 | 196,455 |
Restaurant Brands International, Inc. | 3,000 | 133,371 |
516,792 | ||
Diversified Financials 0.1% | ||
AGF Management Ltd., Class B | 91,846 | 349,909 |
TMX Group Ltd. | 3,800 | 175,339 |
525,248 | ||
Energy 1.8% | ||
AltaGas Ltd. | 23,449 | 580,237 |
Bonavista Energy Corp. | 317,800 | 1,037,772 |
Bonterra Energy Corp. | 8,422 | 158,482 |
Canadian Energy Services & Technology Corp. | 52,642 | 207,617 |
Canyon Services Group, Inc. | 44,595 | 177,210 |
Crew Energy, Inc. * | 37,116 | 182,356 |
Enerflex Ltd. | 39,649 | 421,232 |
Ensign Energy Services, Inc. | 111,189 | 670,632 |
Gran Tierra Energy, Inc. * | 107,051 | 312,861 |
MEG Energy Corp. * | 51,462 | 209,869 |
Mullen Group Ltd. | 42,992 | 595,856 |
Parex Resources, Inc. * | 7,500 | 86,278 |
Parkland Fuel Corp. | 34,362 | 802,625 |
Pason Systems, Inc. | 16,296 | 185,278 |
Peyto Exploration & Development Corp. | 17,602 | 452,222 |
Precision Drilling Corp. | 158,800 | 707,988 |
Secure Energy Services, Inc. | 29,231 | 179,139 |
ShawCor Ltd. | 25,096 | 627,727 |
Tourmaline Oil Corp. * | 9,277 | 243,112 |
Trinidad Drilling Ltd. (a) | 182,596 | 349,863 |
Veresen, Inc. | 44,896 | 406,685 |
Whitecap Resources, Inc. | 14,900 | 119,085 |
8,714,126 | ||
Food & Staples Retailing 0.2% | ||
The Jean Coutu Group (PJC), Inc., Class A | 26,914 | 405,325 |
The North West Co., Inc. | 16,215 | 309,479 |
714,804 | ||
Food, Beverage & Tobacco 0.2% | ||
Cott Corp. | 24,400 | 319,985 |
Maple Leaf Foods, Inc. | 25,163 | 573,123 |
893,108 |
Security | Number of Shares | Value ($) |
Health Care Equipment & Services 0.1% | ||
Chartwell Retirement Residences | 6,400 | 71,286 |
Extendicare, Inc. | 16,000 | 109,983 |
Medical Facilities Corp. | 4,486 | 73,178 |
254,447 | ||
Insurance 0.2% | ||
Industrial Alliance Insurance & Financial Services, Inc. | 18,324 | 709,572 |
Materials 1.5% | ||
Alamos Gold, Inc., Class A | 31,930 | 250,431 |
Canam Group, Inc. | 7,874 | 52,893 |
Canfor Corp. * | 26,495 | 293,928 |
Cascades, Inc. | 40,719 | 384,027 |
CCL Industries, Inc., Class B | 1,738 | 309,090 |
Centerra Gold, Inc. | 61,077 | 308,732 |
Chemtrade Logistics Income Fund | 16,481 | 216,871 |
Dominion Diamond Corp. | 19,687 | 167,324 |
Eldorado Gold Corp. * | 138,308 | 436,176 |
Franco-Nevada Corp. | 5,682 | 371,895 |
HudBay Minerals, Inc. | 65,256 | 274,880 |
IAMGOLD Corp. * | 228,268 | 913,889 |
Interfor Corp. * | 17,095 | 191,304 |
Intertape Polymer Group, Inc. | 4,585 | 77,664 |
Labrador Iron Ore Royalty Corp. | 14,216 | 155,694 |
Lundin Mining Corp. * | 116,725 | 456,875 |
Nevsun Resources Ltd. | 56,565 | 164,048 |
New Gold, Inc. * | 64,092 | 252,775 |
Norbord, Inc. | 2,900 | 68,214 |
Pan American Silver Corp. | 31,830 | 508,312 |
Resolute Forest Products, Inc. * | 97,776 | 464,436 |
SEMAFO, Inc. * | 48,200 | 189,020 |
Silver Wheaton Corp. | 26,562 | 640,039 |
Stella-Jones, Inc. | 1,900 | 67,427 |
Western Forest Products, Inc. | 63,495 | 96,570 |
7,312,514 | ||
Media 0.3% | ||
Aimia, Inc. | 61,299 | 331,334 |
Cineplex, Inc. | 11,260 | 428,137 |
Cogeco Communications, Inc. | 5,631 | 262,637 |
Corus Entertainment, Inc., Class B | 37,543 | 309,849 |
Entertainment One Ltd. | 85,342 | 242,553 |
1,574,510 | ||
Real Estate 0.6% | ||
Artis Real Estate Investment Trust | 14,173 | 123,841 |
Boardwalk Real Estate Investment Trust (a) | 4,677 | 171,626 |
Canadian Apartment Properties REIT | 6,999 | 152,994 |
Canadian Real Estate Investment Trust | 5,151 | 177,345 |
Colliers International Group, Inc. | 3,634 | 126,525 |
Cominar Real Estate Investment Trust | 18,713 | 207,318 |
Dream Global Real Estate Investment Trust | 11,180 | 76,017 |
Dream Office Real Estate Investment Trust | 15,517 | 193,312 |
First Capital Realty, Inc. | 14,678 | 234,073 |
Granite Real Estate Investment Trust | 7,204 | 226,652 |
H&R Real Estate Investment Trust | 21,704 | 369,096 |
RioCan Real Estate Investment Trust | 23,920 | 465,096 |
Smart Real Estate Investment Trust | 8,925 | 222,576 |
2,746,471 | ||
Retailing 0.2% | ||
AutoCanada, Inc. | 4,600 | 75,620 |
Hudson's Bay Co. | 31,100 | 382,113 |
Uni-Select, Inc. | 10,320 | 232,206 |
689,939 |
Security | Number of Shares | Value ($) |
Semiconductors & Semiconductor Equipment 0.0% | ||
Canadian Solar, Inc. * | 5,519 | 79,694 |
Software & Services 0.2% | ||
Constellation Software, Inc. | 588 | 275,457 |
DH Corp. | 14,391 | 186,258 |
Open Text Corp. | 6,675 | 414,444 |
876,159 | ||
Telecommunication Services 0.0% | ||
Manitoba Telecom Services, Inc. | 6,476 | 181,007 |
Transportation 0.4% | ||
Air Canada * | 24,536 | 231,403 |
Exchange Income Corp. | 6,230 | 174,828 |
Student Transportation, Inc. | 12,792 | 74,103 |
TransForce, Inc. | 30,970 | 702,615 |
WestJet Airlines Ltd. | 12,142 | 198,700 |
Westshore Terminals Investment Corp. | 15,056 | 290,389 |
1,672,038 | ||
Utilities 0.4% | ||
Algonquin Power & Utilities Corp. | 9,100 | 80,396 |
Capital Power Corp. | 38,099 | 586,554 |
Hydro One Ltd. (c) | 4,900 | 89,393 |
Innergex Renewable Energy, Inc. | 6,300 | 70,031 |
Just Energy Group, Inc. | 40,514 | 212,643 |
Northland Power, Inc. | 16,746 | 299,638 |
Superior Plus Corp. | 70,043 | 623,509 |
Valener, Inc. | 6,557 | 102,953 |
2,065,117 | ||
38,454,171 | ||
Denmark 1.2% | ||
Banks 0.1% | ||
Jyske Bank A/S - Reg'd | 7,278 | 329,987 |
Sydbank A/S | 11,814 | 368,907 |
698,894 | ||
Capital Goods 0.4% | ||
FLSmidth & Co. A/S (a) | 18,882 | 685,093 |
NKT Holding A/S | 8,422 | 567,018 |
Per Aarsleff Holding A/S | 4,807 | 113,412 |
Rockwool International A/S, B Shares | 2,242 | 374,993 |
1,740,516 | ||
Food, Beverage & Tobacco 0.1% | ||
Royal Unibrew A/S | 3,667 | 171,548 |
Schouw & Co. | 3,381 | 214,485 |
386,033 | ||
Health Care Equipment & Services 0.1% | ||
GN Store Nord A/S | 19,208 | 389,313 |
William Demant Holding A/S * | 9,710 | 180,674 |
569,987 | ||
Insurance 0.1% | ||
Topdanmark A/S * | 8,225 | 221,358 |
Tryg A/S | 16,767 | 326,973 |
548,331 | ||
Materials 0.2% | ||
Chr. Hansen Holding A/S | 4,723 | 282,850 |
Novozymes A/S, B Shares | 14,753 | 547,289 |
830,139 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
H. Lundbeck A/S * | 8,222 | 264,982 |
Retailing 0.0% | ||
Matas A/S | 8,379 | 162,617 |
Security | Number of Shares | Value ($) |
Software & Services 0.0% | ||
SimCorp A/S | 2,930 | 161,805 |
Transportation 0.1% | ||
D/S Norden A/S *(a) | 19,394 | 276,172 |
Dfds A/S | 5,557 | 268,504 |
544,676 | ||
5,907,980 | ||
Finland 1.6% | ||
Capital Goods 0.7% | ||
Cargotec Oyj, B Shares | 10,568 | 433,396 |
Cramo Oyj | 10,151 | 266,045 |
Konecranes Oyj | 14,639 | 498,639 |
Outotec Oyj * | 90,605 | 394,522 |
PKC Group Oyj | 8,078 | 141,662 |
Ramirent Oyj | 27,104 | 199,849 |
Uponor Oyj | 12,648 | 215,159 |
Valmet Oyj | 32,564 | 483,480 |
Yit Oyj | 87,041 | 725,914 |
3,358,666 | ||
Commercial & Professional Supplies 0.1% | ||
Caverion Corp. | 40,025 | 287,975 |
Lassila & Tikanoja Oyj | 10,719 | 223,099 |
511,074 | ||
Consumer Durables & Apparel 0.1% | ||
Amer Sports Oyj | 16,791 | 456,871 |
Materials 0.4% | ||
Huhtamaki Oyj | 14,059 | 567,393 |
Kemira Oyj | 33,421 | 398,314 |
Metsa Board Oyj | 44,285 | 254,397 |
Outokumpu Oyj * | 90,928 | 633,910 |
Tikkurila Oyj | 11,276 | 217,099 |
2,071,113 | ||
Media 0.2% | ||
Sanoma Oyj | 74,127 | 693,166 |
Real Estate 0.0% | ||
Sponda Oyj | 40,776 | 193,052 |
Software & Services 0.1% | ||
Tieto Oyj | 21,678 | 594,681 |
7,878,623 | ||
France 3.7% | ||
Automobiles & Components 0.1% | ||
Plastic Omnium S.A. | 10,465 | 341,260 |
Capital Goods 0.3% | ||
Dassault Aviation S.A. | 101 | 110,076 |
Nexans S.A. * | 15,948 | 906,521 |
SPIE S.A. | 3,847 | 72,700 |
Tarkett S.A. | 4,299 | 153,097 |
1,242,394 | ||
Commercial & Professional Supplies 0.3% | ||
Edenred | 33,211 | 768,622 |
Elis S.A. | 5,382 | 89,416 |
Societe BIC S.A. | 4,317 | 598,389 |
1,456,427 | ||
Consumer Durables & Apparel 0.2% | ||
SEB S.A. | 5,094 | 749,711 |
Consumer Services 0.1% | ||
Elior Group (c) | 11,742 | 263,777 |
Diversified Financials 0.0% | ||
Amundi S.A. (c) | 1,856 | 91,017 |
Security | Number of Shares | Value ($) |
Energy 0.1% | ||
Bourbon Corp. (a) | 16,292 | 212,826 |
Etablissements Maurel et Prom *(a) | 67,830 | 298,579 |
511,405 | ||
Food, Beverage & Tobacco 0.1% | ||
Remy Cointreau S.A. | 3,635 | 294,737 |
Health Care Equipment & Services 0.1% | ||
BioMerieux | 2,074 | 302,163 |
Korian S.A. | 3,151 | 96,512 |
Orpea | 4,029 | 335,326 |
734,001 | ||
Insurance 0.1% | ||
Coface S.A. | 26,756 | 173,251 |
Euler Hermes Group | 4,017 | 348,460 |
521,711 | ||
Materials 0.3% | ||
Eramet * | 6,590 | 309,313 |
Imerys S.A. | 9,099 | 633,512 |
Vicat S.A. | 5,337 | 335,548 |
1,278,373 | ||
Media 0.4% | ||
Havas S.A. | 26,137 | 212,750 |
IPSOS | 11,182 | 365,210 |
JC Decaux S.A. | 10,688 | 326,861 |
Metropole Television S.A. | 25,557 | 445,294 |
Societe Television Francaise | 45,421 | 418,344 |
Technicolor S.A. - Reg'd | 66,325 | 387,465 |
2,155,924 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
Ipsen S.A. | 4,234 | 292,701 |
Real Estate 0.5% | ||
Fonciere Des Regions | 6,203 | 542,115 |
Gecina S.A. | 4,037 | 588,599 |
ICADE | 7,711 | 553,749 |
Mercialys S.A. | 10,467 | 216,827 |
Nexity S.A. * | 10,771 | 540,796 |
2,442,086 | ||
Retailing 0.1% | ||
Groupe Fnac S.A. * | 5,822 | 397,430 |
Software & Services 0.4% | ||
Alten S.A. | 5,256 | 375,537 |
Altran Technologies S.A. * | 17,668 | 252,095 |
Dassault Systemes S.A. | 7,001 | 554,147 |
Sopra Steria Group | 1,869 | 190,140 |
UBISOFT Entertainment * | 15,754 | 536,040 |
1,907,959 | ||
Technology Hardware & Equipment 0.2% | ||
Ingenico Group S.A. | 3,314 | 262,130 |
Neopost S.A. | 29,327 | 888,209 |
1,150,339 | ||
Telecommunication Services 0.1% | ||
Iliad S.A. | 2,415 | 506,269 |
SFR Group S.A. | 2,334 | 62,904 |
569,173 | ||
Transportation 0.2% | ||
Aeroports de Paris | 4,758 | 480,592 |
Europcar Groupe S.A. *(c) | 7,746 | 72,006 |
Groupe Eurotunnel SE - Reg'd | 48,534 | 454,246 |
1,006,844 | ||
17,407,269 | ||
Security | Number of Shares | Value ($) |
Germany 2.9% | ||
Automobiles & Components 0.2% | ||
ElringKlinger AG | 9,909 | 153,494 |
Grammer AG | 4,256 | 243,642 |
Hella KGaA Hueck & Co. | 6,535 | 249,403 |
SAF-Holland S.A. | 14,434 | 193,842 |
840,381 | ||
Banks 0.1% | ||
Aareal Bank AG | 7,960 | 287,915 |
Capital Goods 0.6% | ||
BayWa AG | 11,458 | 384,991 |
Deutz AG | 55,584 | 274,933 |
Duerr AG | 3,374 | 251,600 |
Heidelberger Druckmaschinen AG *(a) | 79,238 | 210,433 |
Indus Holding AG | 4,979 | 293,882 |
KION Group AG | 9,664 | 583,901 |
Krones AG | 2,509 | 255,917 |
Norma Group SE | 3,869 | 178,024 |
Pfeiffer Vacuum Technology AG | 1,813 | 164,509 |
SGL Carbon SE *(a) | 14,298 | 178,430 |
Vossloh AG * | 2,966 | 180,299 |
Wacker Neuson SE | 9,193 | 127,182 |
3,084,101 | ||
Commercial & Professional Supplies 0.0% | ||
Bertrandt AG | 639 | 67,964 |
Consumer Durables & Apparel 0.0% | ||
Gerry Weber International AG | 14,533 | 181,439 |
Health Care Equipment & Services 0.1% | ||
Carl Zeiss Meditec AG, Class B | 4,341 | 156,264 |
Rhoen-Klinikum AG | 16,052 | 446,849 |
603,113 | ||
Insurance 0.1% | ||
Talanx AG * | 11,167 | 346,607 |
Materials 0.3% | ||
Covestro AG (c) | 7,500 | 444,130 |
Symrise AG | 10,712 | 735,650 |
Wacker Chemie AG | 5,233 | 466,857 |
1,646,637 | ||
Media 0.1% | ||
Axel Springer SE | 11,217 | 561,961 |
Pharmaceuticals, Biotechnology & Life Sciences 0.2% | ||
Gerresheimer AG | 4,529 | 341,622 |
STADA Arzneimittel AG | 12,007 | 602,134 |
943,756 | ||
Real Estate 0.2% | ||
Deutsche Wohnen AG | 10,602 | 346,386 |
LEG Immobilien AG * | 3,449 | 290,930 |
TAG Immobilien AG | 6,899 | 91,996 |
729,312 | ||
Retailing 0.0% | ||
Fielmann AG | 3,005 | 208,557 |
Semiconductors & Semiconductor Equipment 0.1% | ||
Aixtron SE * | 36,868 | 182,717 |
Siltronic AG * | 7,248 | 261,547 |
SMA Solar Technology AG (a) | 6,635 | 170,393 |
614,657 | ||
Software & Services 0.3% | ||
Bechtle AG | 3,435 | 361,262 |
CANCOM SE | 1,239 | 56,391 |
Software AG | 10,532 | 382,777 |
Security | Number of Shares | Value ($) |
United Internet AG - Reg'd | 8,747 | 359,630 |
Wirecard AG | 3,662 | 173,831 |
1,333,891 | ||
Technology Hardware & Equipment 0.2% | ||
Jenoptik AG | 11,675 | 200,645 |
Wincor Nixdorf AG * | 8,622 | 627,835 |
828,480 | ||
Telecommunication Services 0.2% | ||
Drillisch AG (a) | 4,692 | 214,380 |
Telefonica Deutschland Holding AG | 128,173 | 497,095 |
711,475 | ||
Transportation 0.2% | ||
Fraport AG Frankfurt Airport Services Worldwide | 8,735 | 518,514 |
Hamburger Hafen und Logistik AG | 10,411 | 165,489 |
Hapag-Lloyd AG *(c) | 4,786 | 95,278 |
Sixt SE | 3,645 | 221,180 |
1,000,461 | ||
13,990,707 | ||
Greece 0.0% | ||
Banks 0.0% | ||
TT Hellenic Postbank S.A. *(b)(f) | 24,275 | — |
Hong Kong 4.2% | ||
Automobiles & Components 0.1% | ||
Minth Group Ltd. | 75,000 | 265,525 |
Xinyi Glass Holdings Ltd. * | 394,000 | 338,775 |
604,300 | ||
Banks 0.1% | ||
The Bank of East Asia Ltd. | 149,800 | 602,182 |
Capital Goods 0.1% | ||
Hopewell Holdings Ltd. | 45,000 | 157,562 |
NWS Holdings Ltd. | 243,000 | 429,953 |
587,515 | ||
Consumer Durables & Apparel 0.3% | ||
Global Brands Group Holding Ltd. * | 2,864,000 | 324,393 |
Pacific Textile Holdings Ltd. | 194,000 | 244,426 |
Stella International Holdings Ltd. | 167,000 | 289,471 |
Techtronic Industries Co., Ltd. | 143,000 | 537,272 |
Texwinca Holdings Ltd. | 254,000 | 178,023 |
1,573,585 | ||
Consumer Services 0.4% | ||
Cafe De Coral Holdings Ltd. | 70,000 | 247,152 |
Melco Crown Entertainment Ltd. ADR | 10,928 | 182,935 |
MGM China Holdings Ltd. | 209,200 | 345,144 |
Shangri-La Asia Ltd. | 270,000 | 296,540 |
Wynn Macau Ltd. | 444,800 | 681,439 |
1,753,210 | ||
Diversified Financials 0.2% | ||
First Pacific Co., Ltd. | 912,000 | 690,888 |
Sun Hung Kai & Co., Ltd. | 242,000 | 152,351 |
843,239 | ||
Energy 0.0% | ||
Brightoil Petroleum Holdings Ltd. *(a) | 575,000 | 165,303 |
Food & Staples Retailing 0.2% | ||
Dairy Farm International Holdings Ltd. | 56,700 | 400,916 |
Sun Art Retail Group Ltd. | 617,000 | 434,603 |
835,519 |
Security | Number of Shares | Value ($) |
Food, Beverage & Tobacco 0.3% | ||
CP Pokphand Co., Ltd. | 1,434,000 | 182,841 |
Tingyi (Cayman Islands) Holding Corp. | 560,000 | 603,682 |
Uni-President China Holdings Ltd. | 202,000 | 136,511 |
Vitasoy International Holdings Ltd. | 74,000 | 154,546 |
WH Group Ltd. (c) | 556,000 | 450,302 |
1,527,882 | ||
Materials 0.2% | ||
Huabao International Holdings Ltd. * | 750,000 | 280,703 |
MMG Ltd. *(a) | 800,000 | 210,365 |
Shougang Fushan Resources Group Ltd. | 1,592,000 | 344,196 |
Yingde Gases Group Co., Ltd. | 450,000 | 181,435 |
1,016,699 | ||
Media 0.1% | ||
Television Broadcasts Ltd. | 83,600 | 302,623 |
Real Estate 0.8% | ||
Great Eagle Holdings Ltd. | 44,000 | 195,180 |
Hang Lung Group Ltd. | 156,000 | 596,738 |
Hang Lung Properties Ltd. | 285,000 | 626,747 |
Henderson Land Development Co., Ltd. | 68,858 | 407,311 |
Hysan Development Co., Ltd. | 44,000 | 203,077 |
Kerry Properties Ltd. | 160,000 | 506,625 |
Shui On Land Ltd. | 750,000 | 185,480 |
Sino Land Co., Ltd. | 352,000 | 597,674 |
Swire Properties Ltd. | 108,400 | 311,290 |
3,630,122 | ||
Retailing 0.2% | ||
Chow Tai Fook Jewellery Group Ltd. (a) | 356,200 | 252,592 |
Giordano International Ltd. | 488,000 | 257,279 |
Luk Fook Holdings International Ltd. | 158,000 | 463,307 |
Sa Sa International Holdings Ltd. | 412,000 | 188,375 |
1,161,553 | ||
Semiconductors & Semiconductor Equipment 0.2% | ||
ASM Pacific Technology Ltd. | 48,000 | 462,460 |
Semiconductor Manufacturing International Corp. * | 4,632,000 | 560,971 |
1,023,431 | ||
Technology Hardware & Equipment 0.4% | ||
AAC Technologies Holdings, Inc. | 44,000 | 419,230 |
FIH Mobile Ltd. | 1,126,000 | 371,584 |
Ju Teng International Holdings Ltd. | 478,000 | 151,432 |
Truly International Holdings Ltd. | 668,000 | 261,243 |
VTech Holdings Ltd. | 47,200 | 578,965 |
1,782,454 | ||
Telecommunication Services 0.2% | ||
Hutchison Telecommunications Hong Kong Holdings Ltd. | 554,000 | 178,421 |
PCCW Ltd. | 971,000 | 577,984 |
SmarTone Telecommunications Holdings Ltd. | 95,000 | 143,405 |
899,810 | ||
Transportation 0.4% | ||
Cathay Pacific Airways Ltd. | 395,000 | 519,913 |
Kerry Logistics Network Ltd. | 100,000 | 132,743 |
Orient Overseas International Ltd. | 145,500 | 544,255 |
Pacific Basin Shipping Ltd. * | 1,957,000 | 292,210 |
SITC International Holdings Co., Ltd. | 270,000 | 159,660 |
1,648,781 |
Security | Number of Shares | Value ($) |
Utilities 0.0% | ||
HK Electric Investments & HK Electric Investments Ltd. (c) | 85,500 | 84,678 |
20,042,886 | ||
Ireland 0.8% | ||
Banks 0.0% | ||
Permanent TSB Group Holdings plc * | 32,917 | 89,614 |
Capital Goods 0.2% | ||
AerCap Holdings N.V. * | 11,276 | 463,556 |
Fly Leasing Ltd. ADR * | 7,867 | 96,449 |
Kingspan Group plc | 13,729 | 336,084 |
896,089 | ||
Consumer Services 0.1% | ||
Paddy Power Betfair plc | 3,665 | 379,788 |
Food & Staples Retailing 0.1% | ||
Total Produce plc | 147,843 | 282,393 |
Food, Beverage & Tobacco 0.1% | ||
C&C Group plc | 67,600 | 259,728 |
Glanbia plc | 17,232 | 280,720 |
Origin Enterprises plc | 17,886 | 110,934 |
651,382 | ||
Health Care Equipment & Services 0.1% | ||
UDG Healthcare plc | 42,964 | 343,357 |
Materials 0.1% | ||
James Hardie Industries plc CDI | 33,262 | 495,064 |
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
ICON plc * | 4,052 | 325,295 |
Jazz Pharmaceuticals plc * | 1,488 | 162,891 |
488,186 | ||
Transportation 0.0% | ||
Irish Continental Group plc | 24,708 | 115,219 |
3,741,092 | ||
Israel 0.9% | ||
Banks 0.2% | ||
First International Bank of Israel Ltd. | 8,583 | 110,436 |
Israel Discount Bank Ltd., Class A * | 246,375 | 452,499 |
Mizrahi Tefahot Bank Ltd. | 18,022 | 234,702 |
797,637 | ||
Capital Goods 0.1% | ||
Elbit Systems Ltd. | 3,269 | 323,475 |
Shikun & Binui Ltd. | 90,770 | 157,328 |
480,803 | ||
Energy 0.2% | ||
Delek Group Ltd. | 1,714 | 335,931 |
Oil Refineries Ltd. * | 498,976 | 176,010 |
Paz Oil Co., Ltd. | 2,242 | 350,300 |
862,241 | ||
Insurance 0.0% | ||
Harel Insurance Investments & Finances Service Ltd. | 52,709 | 203,806 |
Materials 0.1% | ||
The Israel Corp., Ltd. * | 2,319 | 345,257 |
Real Estate 0.0% | ||
Azrieli Group Ltd. | 1,373 | 58,451 |
Gazit-Globe Ltd. | 19,668 | 177,621 |
236,072 | ||
Retailing 0.0% | ||
Delek Automotive Systems Ltd. | 7,771 | 66,401 |
Security | Number of Shares | Value ($) |
Software & Services 0.1% | ||
Nice Ltd. | 5,331 | 353,861 |
Telecommunication Services 0.2% | ||
B Communications Ltd. | 9,073 | 200,852 |
Cellcom Israel Ltd. * | 58,738 | 443,294 |
Partner Communications Co., Ltd. * | 61,801 | 288,284 |
932,430 | ||
4,278,508 | ||
Italy 2.5% | ||
Automobiles & Components 0.2% | ||
Brembo S.p.A. | 3,149 | 194,966 |
Ferrari N.V. | 7,321 | 385,450 |
Piaggio & C. S.p.A. (a) | 81,474 | 142,028 |
722,444 | ||
Banks 0.5% | ||
Banca Carige S.p.A. * | 760,813 | 259,707 |
Banca Popolare Di Milano Scarl (a) | 1,101,035 | 504,625 |
Banca Popolare Di Sondrio Scarl | 161,333 | 538,588 |
Credito Valtellinese Scarl | 431,319 | 189,827 |
Mediobanca S.p.A. | 91,889 | 673,113 |
2,165,860 | ||
Capital Goods 0.2% | ||
Astaldi S.p.A. | 33,955 | 137,052 |
C.I.R. S.p.A. - Compagnie Industriali Riunite | 237,020 | 264,352 |
Danieli & Co., Officine Meccaniche S.p.A. | 3,136 | 58,541 |
Interpump Group S.p.A. | 9,451 | 151,577 |
Italmobiliare S.p.A. | 3,377 | 160,184 |
Salini Impregilo S.p.A. | 66,629 | 185,673 |
Trevi Finanziaria Industriale S.p.A. * | 113,092 | 166,680 |
1,124,059 | ||
Consumer Durables & Apparel 0.2% | ||
De'Longhi S.p.A. | 7,617 | 178,220 |
Prada S.p.A. | 114,800 | 402,180 |
Safilo Group S.p.A. * | 18,934 | 198,151 |
Tod's S.p.A. (a) | 3,869 | 226,081 |
1,004,632 | ||
Consumer Services 0.0% | ||
Autogrill S.p.A. | 26,995 | 224,994 |
Diversified Financials 0.1% | ||
Anima Holding S.p.A (c) | 12,289 | 59,869 |
Azimut Holding S.p.A. | 7,085 | 113,725 |
Banca Generali S.p.A. | 7,552 | 167,931 |
Cerved Information Solutions S.p.A | 8,873 | 71,418 |
412,943 | ||
Energy 0.1% | ||
Saras S.p.A. | 168,915 | 293,397 |
Food & Staples Retailing 0.0% | ||
MARR S.p.A. | 7,586 | 139,732 |
Food, Beverage & Tobacco 0.1% | ||
Davide Campari-Milano S.p.A. | 31,120 | 313,426 |
Parmalat S.p.A. | 100,360 | 265,070 |
578,496 | ||
Health Care Equipment & Services 0.0% | ||
DiaSorin S.p.A. | 2,526 | 155,242 |
Security | Number of Shares | Value ($) |
Insurance 0.2% | ||
Societa Cattolica di Assicurazioni S.c.r.l. | 42,229 | 255,331 |
Unipol Gruppo Finanziario S.p.A. | 109,283 | 334,569 |
UnipolSai S.p.A. | 136,798 | 261,422 |
851,322 | ||
Materials 0.1% | ||
Buzzi Unicem S.p.A. | 20,612 | 400,856 |
Media 0.1% | ||
RCS MediaGroup S.p.A. * | 234,268 | 251,247 |
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
Recordati S.p.A. | 9,057 | 256,122 |
Real Estate 0.0% | ||
Beni Stabili S.p.A * | 197,281 | 115,028 |
Technology Hardware & Equipment 0.0% | ||
Esprinet S.p.A. | 22,883 | 169,558 |
Transportation 0.1% | ||
Alitalia S.p.A. *(b)(f) | 14,782 | — |
Ansaldo STS S.p.A. | 17,566 | 201,894 |
ASTM S.p.A. | 19,957 | 215,438 |
Societa Iniziative Autostradali e Servizi S.p.A. | 27,552 | 258,036 |
675,368 | ||
Utilities 0.5% | ||
A2A S.p.A | 564,516 | 768,801 |
ACEA S.p.A. | 13,925 | 180,377 |
ERG S.p.A. | 30,275 | 336,223 |
Hera S.p.A. | 227,767 | 582,185 |
Iren S.p.A. | 228,240 | 409,565 |
2,277,151 | ||
11,818,451 | ||
Japan 40.1% | ||
Automobiles & Components 2.6% | ||
Aisan Industry Co., Ltd. | 19,300 | 157,117 |
Akebono Brake Industry Co., Ltd. * | 83,400 | 159,613 |
Eagle Industry Co., Ltd. | 5,600 | 79,898 |
Exedy Corp. | 17,300 | 494,297 |
F.C.C. Co., Ltd. | 16,300 | 359,603 |
Futaba Industrial Co., Ltd. | 67,300 | 402,104 |
G-Tekt Corp. | 13,800 | 262,109 |
Kasai Kogyo Co., Ltd. | 13,300 | 150,635 |
Keihin Corp. | 27,900 | 456,081 |
KYB Corp. | 134,000 | 612,751 |
Mitsuba Corp. | 13,000 | 189,785 |
Musashi Seimitsu Industry Co., Ltd. | 11,300 | 276,771 |
Nifco, Inc. | 6,800 | 391,624 |
Nippon Seiki Co., Ltd. | 17,000 | 328,681 |
Nissan Shatai Co., Ltd. | 55,000 | 567,826 |
Nissin Kogyo Co., Ltd. | 22,200 | 328,451 |
NOK Corp. | 33,400 | 752,693 |
Pacific Industrial Co., Ltd. | 17,000 | 209,042 |
Piolax, Inc. | 2,800 | 178,015 |
Press Kogyo Co., Ltd. | 66,600 | 324,337 |
Sanden Holdings Corp. | 71,000 | 219,749 |
Showa Corp. | 44,900 | 293,878 |
Sumitomo Riko Co., Ltd. | 28,600 | 273,948 |
Tachi-S Co., Ltd. | 21,200 | 351,857 |
Takata Corp. *(a) | 66,500 | 230,982 |
Tokai Rika Co., Ltd. | 25,900 | 485,694 |
Topre Corp. | 8,100 | 187,564 |
Toyo Tire & Rubber Co., Ltd. | 30,000 | 465,311 |
Toyoda Gosei Co., Ltd. | 33,200 | 760,767 |
Toyota Boshoku Corp. | 32,500 | 819,359 |
Security | Number of Shares | Value ($) |
TPR Co., Ltd. | 3,100 | 89,640 |
TS Tech Co., Ltd. | 21,000 | 563,046 |
Unipres Corp. | 26,600 | 513,337 |
Yorozu Corp. | 12,700 | 199,992 |
12,136,557 | ||
Banks 2.2% | ||
Fukuoka Financial Group, Inc. | 172,000 | 744,325 |
Hokuhoku Financial Group, Inc. | 30,500 | 439,651 |
Mebuki Financial Group, Inc. | 144,500 | 514,240 |
Nishi-Nippon Financial Holdings, Inc. * | 40,300 | 401,194 |
North Pacific Bank Ltd. | 265,000 | 988,288 |
Senshu Ikeda Holdings, Inc. | 37,600 | 171,076 |
Seven Bank Ltd. | 74,000 | 227,490 |
Shinsei Bank Ltd. | 240,000 | 388,023 |
Suruga Bank Ltd. | 13,900 | 339,339 |
The 77 Bank Ltd. | 45,000 | 203,279 |
The Awa Bank Ltd. | 27,000 | 177,555 |
The Bank of Kyoto Ltd. | 35,000 | 256,665 |
The Chiba Bank Ltd. | 124,000 | 766,914 |
The Chugoku Bank Ltd. | 25,700 | 344,831 |
The Daishi Bank Ltd. | 44,000 | 189,197 |
The Gunma Bank Ltd. | 65,000 | 310,366 |
The Hachijuni Bank Ltd. | 61,900 | 337,455 |
The Hiroshima Bank Ltd. | 67,000 | 286,737 |
The Hokkoku Bank Ltd. | 27,000 | 90,426 |
The Hyakugo Bank Ltd. | 37,000 | 136,251 |
The Iyo Bank Ltd. | 37,400 | 229,853 |
The Juroku Bank Ltd. | 57,000 | 171,886 |
The Keiyo Bank Ltd. | 43,000 | 180,845 |
The Kiyo Bank Ltd. | 24,500 | 406,175 |
The Musashino Bank Ltd. | 6,000 | 165,667 |
The Nanto Bank Ltd. | 4,400 | 167,285 |
The Ogaki Kyoritsu Bank Ltd. | 56,000 | 200,332 |
The San-in Godo Bank Ltd. | 26,100 | 187,788 |
The Shiga Bank Ltd. | 39,000 | 202,269 |
The Shizuoka Bank Ltd. | 72,000 | 607,646 |
Yamaguchi Financial Group, Inc. | 37,000 | 407,900 |
10,240,948 | ||
Capital Goods 7.2% | ||
Aica Kogyo Co., Ltd. | 12,300 | 350,993 |
Amada Holdings Co., Ltd. | 58,400 | 665,240 |
Asahi Diamond Industrial Co., Ltd. | 17,200 | 128,175 |
Bunka Shutter Co., Ltd. | 16,400 | 136,001 |
Central Glass Co., Ltd. | 84,000 | 343,598 |
Chiyoda Corp. | 48,000 | 418,671 |
Chudenko Corp. | 7,100 | 147,587 |
CKD Corp. | 16,000 | 199,255 |
COMSYS Holdings Corp. | 40,800 | 718,264 |
Daifuku Co., Ltd. | 15,900 | 287,294 |
Daihen Corp. | 31,000 | 179,736 |
DMG Mori Co., Ltd. | 27,100 | 287,430 |
Fuji Machine Manufacturing Co., Ltd. | 23,538 | 299,570 |
Fujikura Ltd. | 130,000 | 763,815 |
Fujitec Co., Ltd. | 15,800 | 180,752 |
Furukawa Co., Ltd. | 98,000 | 156,482 |
Futaba Corp. | 10,900 | 177,956 |
Glory Ltd. | 14,300 | 472,740 |
GS Yuasa Corp. | 117,000 | 505,234 |
Hazama Ando Corp. | 34,300 | 221,115 |
Hitachi Koki Co., Ltd. | 22,600 | 191,376 |
Hitachi Zosen Corp. | 76,800 | 386,539 |
Hoshizaki Corp. | 5,400 | 487,341 |
Inaba Denki Sangyo Co., Ltd. | 12,300 | 446,261 |
Inabata & Co., Ltd. | 43,400 | 471,757 |
Iseki & Co., Ltd. | 85,000 | 210,238 |
Iwatani Corp. | 106,000 | 633,049 |
Kanamoto Co., Ltd. | 7,400 | 177,783 |
Security | Number of Shares | Value ($) |
Kandenko Co., Ltd. | 51,000 | 502,765 |
Kanematsu Corp. | 379,000 | 623,635 |
Keihan Holdings Co., Ltd. | 65,000 | 438,854 |
Kinden Corp. | 61,100 | 735,834 |
Kitz Corp. | 45,200 | 259,908 |
Komori Corp. | 14,400 | 182,745 |
Kumagai Gumi Co., Ltd. | 68,000 | 180,589 |
Kurita Water Industries Ltd. | 29,700 | 702,902 |
Kuroda Electric Co., Ltd. | 19,200 | 373,573 |
Kyowa Exeo Corp. | 45,400 | 681,700 |
Kyudenko Corp. | 9,500 | 306,059 |
Mabuchi Motor Co., Ltd. | 6,200 | 360,410 |
Maeda Corp. | 35,000 | 324,255 |
Maeda Road Construction Co., Ltd. | 24,000 | 444,002 |
Makino Milling Machine Co., Ltd. | 28,000 | 177,920 |
Meidensha Corp. | 49,000 | 163,977 |
Minebea Co., Ltd. | 72,000 | 734,723 |
Mirait Holdings Corp. | 43,100 | 382,174 |
MISUMI Group, Inc. | 32,800 | 598,204 |
Mitsui Engineering & Shipbuilding Co., Ltd. | 460,000 | 639,162 |
Miura Co., Ltd. | 12,100 | 208,794 |
Nabtesco Corp. | 23,600 | 704,851 |
Nachi-Fujikoshi Corp. | 53,000 | 201,008 |
Namura Shipbuilding Co., Ltd. | 30,600 | 186,594 |
Nichias Corp. | 37,000 | 329,205 |
Nichiha Corp. | 11,800 | 291,438 |
Nippo Corp. | 21,000 | 405,095 |
Nippon Densetsu Kogyo Co., Ltd. | 11,100 | 202,232 |
Nippon Sheet Glass Co., Ltd. * | 88,200 | 716,389 |
Nippon Steel & Sumikin Bussan Corp. | 12,900 | 472,784 |
Nishimatsu Construction Co., Ltd. | 82,000 | 382,947 |
Nishio Rent All Co., Ltd. | 6,400 | 193,242 |
Nisshinbo Holdings, Inc. | 55,400 | 551,576 |
Nitta Corp. | 5,600 | 144,936 |
Nitto Kogyo Corp. | 10,000 | 146,694 |
Noritz Corp. | 15,000 | 310,884 |
NTN Corp. | 175,000 | 662,421 |
Oiles Corp. | 9,780 | 177,289 |
OKUMA Corp. | 32,000 | 267,791 |
Okumura Corp. | 43,000 | 247,797 |
OSG Corp. (a) | 13,100 | 279,012 |
Penta-Ocean Construction Co., Ltd. | 69,100 | 411,776 |
Ryobi Ltd. | 60,000 | 241,869 |
Sanki Engineering Co., Ltd. | 22,100 | 200,430 |
Sankyo Tateyama, Inc. | 18,700 | 294,420 |
Sanwa Holdings Corp. | 45,200 | 450,162 |
Seibu Holdings, Inc. | 30,000 | 519,062 |
Shinmaywa Industries Ltd. | 40,000 | 309,620 |
Sintokogio Ltd. | 19,800 | 172,698 |
Sumitomo Mitsui Construction Co., Ltd. | 91,600 | 87,231 |
Tadano Ltd. | 22,600 | 253,793 |
Taihei Dengyo Kaisha Ltd. | 14,000 | 145,118 |
Taikisha Ltd. | 10,000 | 252,599 |
Takara Standard Co., Ltd. | 14,500 | 269,348 |
Takasago Thermal Engineering Co., Ltd. | 15,700 | 221,415 |
Takuma Co., Ltd. | 15,000 | 137,893 |
The Japan Steel Works Ltd. | 23,600 | 506,909 |
The Nippon Road Co., Ltd. | 38,000 | 155,924 |
THK Co., Ltd. | 29,400 | 620,745 |
Toa Corp. | 8,100 | 170,522 |
Toda Corp. | 61,000 | 330,624 |
TOKAI Holdings Corp. | 37,300 | 239,718 |
Toshiba Machine Co., Ltd. | 53,000 | 191,415 |
Toshiba Plant Systems & Services Corp. | 12,600 | 203,167 |
Security | Number of Shares | Value ($) |
Totetsu Kogyo Co., Ltd. | 6,000 | 170,081 |
Toyo Engineering Corp. | 57,000 | 195,254 |
Trusco Nakayama Corp. | 7,000 | 361,909 |
Tsubakimoto Chain Co. | 38,000 | 301,016 |
Ushio, Inc. | 31,100 | 375,186 |
Wakita & Co., Ltd. | 17,800 | 151,774 |
Yamazen Corp. | 33,400 | 266,331 |
Yuasa Trading Co., Ltd. | 10,900 | 261,128 |
Yurtec Corp. | 18,000 | 131,858 |
34,141,617 | ||
Commercial & Professional Supplies 0.8% | ||
Aeon Delight Co., Ltd. | 7,200 | 212,837 |
Daiseki Co., Ltd. | 7,300 | 149,870 |
Duskin Co., Ltd. | 23,700 | 455,237 |
Kokuyo Co., Ltd. | 33,800 | 447,778 |
Meitec Corp. | 4,700 | 160,165 |
Nissha Printing Co., Ltd. (a) | 8,200 | 198,514 |
Nomura Co., Ltd. | 10,300 | 167,041 |
Okamura Corp. | 22,300 | 218,783 |
Park24 Co., Ltd. | 13,300 | 410,953 |
Relia, Inc. | 20,300 | 194,523 |
Sato Holdings Corp. | 8,400 | 185,038 |
Sohgo Security Services Co., Ltd. | 9,500 | 432,662 |
Temp Holdings Co., Ltd. | 22,600 | 383,289 |
Toppan Forms Co., Ltd. | 24,600 | 244,523 |
3,861,213 | ||
Consumer Durables & Apparel 2.1% | ||
Alpine Electronics, Inc. | 27,900 | 372,417 |
Asics Corp. | 22,500 | 480,134 |
Casio Computer Co., Ltd. | 35,600 | 495,857 |
Foster Electric Co., Ltd. | 12,800 | 234,881 |
Fujitsu General Ltd. | 12,000 | 275,360 |
Funai Electric Co., Ltd. | 36,000 | 293,523 |
Gunze Ltd. | 97,000 | 325,575 |
Haseko Corp. | 51,900 | 505,081 |
Heiwa Corp. | 12,000 | 281,895 |
JVC Kenwood Corp. | 148,700 | 401,841 |
Kurabo Industries Ltd. | 130,000 | 259,726 |
Misawa Homes Co., Ltd. | 26,000 | 195,638 |
Mizuno Corp. | 56,000 | 301,240 |
Onward Holdings Co., Ltd. | 72,000 | 481,946 |
PanaHome Corp. | 38,000 | 282,624 |
Pioneer Corp. * | 207,600 | 509,165 |
Rinnai Corp. | 5,800 | 557,184 |
Sangetsu Corp. | 17,600 | 339,867 |
Sankyo Co., Ltd. | 14,900 | 524,912 |
Sanyo Shokai Ltd. | 92,000 | 148,147 |
Seiko Holdings Corp. | 54,000 | 176,759 |
Seiren Co., Ltd. | 14,200 | 166,080 |
Tamron Co., Ltd. | 9,000 | 157,576 |
The Japan Wool Textile Co., Ltd. | 10,500 | 76,563 |
Token Corp. | 2,850 | 205,967 |
Tomy Co., Ltd. | 32,900 | 355,402 |
TSI Holdings Co., Ltd. | 43,100 | 242,356 |
Wacoal Holdings Corp. | 40,000 | 461,502 |
Yamaha Corp. | 25,000 | 893,236 |
10,002,454 | ||
Consumer Services 1.0% | ||
Accordia Golf Co., Ltd. | 28,900 | 291,682 |
Doutor Nichires Holdings Co., Ltd. | 13,700 | 274,215 |
Dynam Japan Holdings Co., Ltd. | 197,800 | 284,292 |
H.I.S. Co., Ltd. | 12,100 | 330,244 |
Kyoritsu Maintenance Co., Ltd. | 900 | 53,988 |
McDonald's Holdings Co., Ltd. (a) | 20,033 | 576,404 |
MOS Food Services, Inc. | 5,300 | 178,062 |
Ohsho Food Service Corp. | 4,400 | 169,331 |
Security | Number of Shares | Value ($) |
Plenus Co., Ltd. | 11,100 | 228,461 |
Resorttrust, Inc. | 7,900 | 157,907 |
Round One Corp. | 42,200 | 298,119 |
Royal Holdings Co., Ltd. | 10,000 | 172,807 |
Saint Marc Holdings Co., Ltd. | 4,700 | 131,913 |
Saizeriya Co., Ltd. | 11,300 | 297,628 |
Skylark Co., Ltd. | 22,500 | 316,385 |
Tokyo Dome Corp. | 19,000 | 180,584 |
Yoshinoya Holdings Co., Ltd. | 27,900 | 420,369 |
Zensho Holdings Co., Ltd. | 22,700 | 423,942 |
4,786,333 | ||
Diversified Financials 0.7% | ||
Acom Co., Ltd. * | 31,100 | 143,108 |
AEON Financial Service Co., Ltd. | 16,100 | 283,429 |
Credit Saison Co., Ltd. | 37,800 | 653,453 |
Fuyo General Lease Co., Ltd. | 3,200 | 162,283 |
Hitachi Capital Corp. | 8,000 | 178,459 |
Jaccs Co., Ltd. | 40,000 | 156,870 |
Japan Exchange Group, Inc. | 18,300 | 271,715 |
Mitsubishi UFJ Lease & Finance Co., Ltd. | 63,800 | 308,868 |
Okasan Securities Group, Inc. | 34,000 | 180,735 |
SBI Holdings, Inc. | 32,300 | 383,700 |
Tokai Tokyo Financial Holdings, Inc. | 34,600 | 175,540 |
Tokyo Century Corp. | 6,700 | 236,087 |
3,134,247 | ||
Energy 0.2% | ||
Fuji Oil Co., Ltd. * | 39,900 | 127,244 |
Itochu Enex Co., Ltd. | 50,900 | 391,071 |
Japan Petroleum Exploration Co., Ltd. | 17,400 | 380,712 |
Nippon Gas Co., Ltd. | 6,400 | 193,684 |
Shinko Plantech Co., Ltd. | 11,500 | 85,283 |
1,177,994 | ||
Food & Staples Retailing 2.1% | ||
Ain Holdings, Inc. | 4,100 | 276,732 |
Arcs Co., Ltd. | 27,600 | 692,542 |
Axial Retailing, Inc. | 5,000 | 179,613 |
Belc Co., Ltd. | 4,400 | 177,783 |
Cawachi Ltd. | 14,200 | 365,447 |
Cocokara fine, Inc. | 11,900 | 460,302 |
Cosmos Pharmaceutical Corp. | 1,300 | 282,896 |
Create SD Holdings Co., Ltd. | 6,600 | 138,160 |
FamilyMart UNY Holdings Co., Ltd. | 30,100 | 1,887,887 |
Heiwado Co., Ltd. | 17,900 | 372,583 |
Kato Sangyo Co., Ltd. | 22,200 | 534,668 |
Life Corp. | 2,800 | 90,893 |
Matsumotokiyoshi Holdings Co., Ltd. | 13,800 | 710,952 |
Ministop Co., Ltd. | 8,000 | 137,883 |
Mitsubishi Shokuhin Co., Ltd. | 14,400 | 472,682 |
San-A Co., Ltd. | 5,300 | 288,507 |
Sugi Holdings Co., Ltd. | 9,200 | 492,805 |
Sundrug Co., Ltd. | 6,700 | 527,035 |
Tsuruha Holdings, Inc. | 6,600 | 761,527 |
Valor Holdings Co., Ltd. | 20,800 | 589,980 |
Welcia Holdings Co., Ltd. | 4,000 | 272,716 |
Yaoko Co., Ltd. | 5,000 | 209,943 |
Yokohama Reito Co., Ltd. | 25,900 | 261,955 |
10,185,491 | ||
Food, Beverage & Tobacco 2.5% | ||
Calbee, Inc. | 8,500 | 308,394 |
Coca-Cola East Japan Co., Ltd. | 21,600 | 476,098 |
Dydo Drinco, Inc. | 4,600 | 254,598 |
Ezaki Glico Co., Ltd. | 9,100 | 517,297 |
Fuji Oil Holdings, Inc. | 23,900 | 460,900 |
Hokuto Corp. | 8,700 | 169,320 |
Security | Number of Shares | Value ($) |
House Foods Group, Inc. | 18,800 | 419,681 |
Ito En Ltd. | 16,600 | 604,402 |
Kagome Co., Ltd. | 18,100 | 474,610 |
Kikkoman Corp. | 21,000 | 668,082 |
Marudai Food Co., Ltd. | 40,000 | 190,490 |
Maruha Nichiro Corp. | 10,900 | 302,238 |
Megmilk Snow Brand Co., Ltd. | 18,000 | 626,181 |
Morinaga & Co., Ltd. | 6,800 | 316,304 |
Morinaga Milk Industry Co., Ltd. | 113,000 | 910,165 |
Nichirei Corp. | 41,000 | 896,533 |
Nippon Flour Mills Co., Ltd. | 27,000 | 399,309 |
Nippon Suisan Kaisha Ltd. | 89,800 | 431,611 |
Nissin Foods Holdings Co., Ltd. | 14,000 | 810,305 |
Prima Meat Packers Ltd. | 76,000 | 275,950 |
Sapporo Holdings Ltd. | 22,000 | 621,515 |
Takara Holdings, Inc. | 40,700 | 385,459 |
The Nisshin Oillio Group Ltd. | 91,000 | 413,718 |
Warabeya Nichiyo Holdings Co., Ltd. | 11,400 | 274,960 |
Yakult Honsha Co., Ltd. | 11,800 | 550,155 |
11,758,275 | ||
Health Care Equipment & Services 0.9% | ||
BML, Inc. | 6,700 | 177,700 |
Hogy Medical Co., Ltd. | 2,400 | 158,085 |
Miraca Holdings, Inc. | 14,300 | 690,349 |
NichiiGakkan Co., Ltd. | 26,700 | 222,258 |
Nihon Kohden Corp. | 13,900 | 338,801 |
Nikkiso Co., Ltd. | 18,600 | 164,370 |
Nipro Corp. | 36,800 | 454,441 |
Paramount Bed Holdings Co., Ltd. | 5,700 | 217,087 |
Ship Healthcare Holdings, Inc. | 11,000 | 321,776 |
Sysmex Corp. | 9,000 | 623,719 |
Toho Holdings Co., Ltd. | 27,600 | 579,089 |
Vital KSK Holdings, Inc. | 16,300 | 172,400 |
4,120,075 | ||
Household & Personal Products 0.5% | ||
Earth Chemical Co., Ltd. | 4,300 | 199,569 |
Fancl Corp. | 14,000 | 211,597 |
Kobayashi Pharmaceutical Co., Ltd. | 8,200 | 428,512 |
Kose Corp. | 2,900 | 264,570 |
Lion Corp. | 36,000 | 588,780 |
Mandom Corp. | 4,800 | 223,875 |
Pigeon Corp. | 8,500 | 239,135 |
Pola Orbis Holdings, Inc. | 3,100 | 257,949 |
2,413,987 | ||
Insurance 0.1% | ||
Japan Post Insurance Co., Ltd, | 7,500 | 157,201 |
Sony Financial Holdings, Inc. | 30,299 | 425,533 |
582,734 | ||
Materials 4.6% | ||
ADEKA Corp. | 29,300 | 442,913 |
Aichi Steel Corp. | 6,400 | 308,160 |
Asahi Holdings, Inc. | 18,200 | 327,767 |
Chuetsu Pulp & Paper Co., Ltd. | 30,000 | 65,546 |
Chugoku Marine Paints Ltd. | 26,000 | 189,212 |
Daido Steel Co., Ltd. | 122,000 | 517,888 |
Daio Paper Corp. (a) | 37,500 | 450,108 |
FP Corp. | 5,100 | 274,706 |
Fuji Seal International, Inc. | 6,200 | 255,553 |
Fujimori Kogyo Co., Ltd. | 7,900 | 196,272 |
Godo Steel Ltd. | 9,500 | 165,798 |
Hitachi Chemical Co., Ltd. | 38,800 | 907,022 |
Hitachi Metals Ltd. | 56,390 | 704,839 |
Hokuetsu Kishu Paper Co., Ltd. | 55,100 | 344,668 |
Ishihara Sangyo Kaisha Ltd. * | 19,100 | 144,904 |
Kansai Paint Co., Ltd. | 29,000 | 623,212 |
Kureha Corp. | 7,000 | 267,697 |
Security | Number of Shares | Value ($) |
Kyoei Steel Ltd. | 9,900 | 188,582 |
Lintec Corp. | 20,900 | 455,222 |
Maruichi Steel Tube Ltd. | 11,500 | 370,775 |
Mitsubishi Gas Chemical Co., Inc. | 67,000 | 1,031,178 |
Nihon Parkerizing Co., Ltd. | 21,600 | 297,626 |
Nippon Kayaku Co., Ltd. | 45,000 | 518,535 |
Nippon Light Metal Holdings Co., Ltd. | 246,000 | 560,144 |
Nippon Paint Holdings Co., Ltd. | 10,800 | 367,221 |
Nippon Shokubai Co., Ltd. | 9,300 | 641,793 |
Nippon Soda Co., Ltd. | 50,000 | 221,649 |
Nissan Chemical Industries Ltd. | 19,000 | 644,188 |
Nisshin Steel Co., Ltd. | 41,200 | 548,048 |
Nittetsu Mining Co., Ltd. | 4,300 | 179,418 |
NOF Corp. | 41,000 | 445,664 |
Pacific Metals Co., Ltd. * | 70,000 | 210,659 |
Rengo Co., Ltd. | 113,000 | 708,657 |
Sakai Chemical Industry Co., Ltd. | 55,000 | 196,207 |
Sakata INX Corp. | 15,200 | 199,002 |
Sanyo Chemical Industries Ltd. | 5,200 | 235,117 |
Sanyo Special Steel Co., Ltd. | 51,000 | 261,441 |
Sumitomo Bakelite Co., Ltd. | 86,000 | 467,040 |
Sumitomo Osaka Cement Co., Ltd. | 126,000 | 521,856 |
Taiyo Nippon Sanso Corp. | 56,400 | 592,838 |
Toagosei Co., Ltd. | 50,700 | 564,315 |
Toho Zinc Co., Ltd. | 70,000 | 244,270 |
Tokai Carbon Co., Ltd. | 100,000 | 304,091 |
Tokuyama Corp. *(a) | 247,000 | 1,056,115 |
Tokyo Ohka Kogyo Co., Ltd. | 8,900 | 316,018 |
Tokyo Steel Manufacturing Co., Ltd. | 32,500 | 225,427 |
Topy Industries Ltd. | 12,200 | 282,916 |
Toyo Ink SC Holdings Co., Ltd. | 97,000 | 450,985 |
Toyo Kohan Co., Ltd. | 26,300 | 78,714 |
Toyobo Co., Ltd. | 364,000 | 595,813 |
UACJ Corp. | 98,300 | 319,468 |
Yamato Kogyo Co., Ltd. | 12,900 | 363,196 |
Yodogawa Steel Works Ltd. | 11,000 | 300,330 |
Zeon Corp. | 65,000 | 593,780 |
21,744,563 | ||
Media 0.6% | ||
Asatsu-DK, Inc. | 21,200 | 588,326 |
Avex Group Holdings, Inc. | 18,200 | 240,738 |
CyberAgent, Inc. | 12,200 | 354,441 |
Daiichikosho Co., Ltd. | 9,700 | 421,679 |
SKY Perfect JSAT Holdings, Inc. | 59,000 | 292,377 |
Toei Co., Ltd. | 16,000 | 128,550 |
Toho Co., Ltd. | 16,600 | 498,039 |
Tokyo Broadcasting System Holdings, Inc. | 12,000 | 188,563 |
TV Asahi Holdings Corp. | 9,500 | 178,220 |
2,890,933 | ||
Pharmaceuticals, Biotechnology & Life Sciences 1.2% | ||
Hisamitsu Pharmaceutical Co., Inc. | 9,700 | 517,418 |
Kaken Pharmaceutical Co., Ltd. | 4,800 | 302,267 |
Kissei Pharmaceutical Co., Ltd. | 6,500 | 169,878 |
KYORIN Holdings, Inc. | 12,700 | 283,831 |
Mochida Pharmaceutical Co., Ltd. | 3,800 | 297,738 |
Nichi-iko Pharmaceutical Co., Ltd. | 7,500 | 134,525 |
Nippon Shinyaku Co., Ltd. | 3,900 | 197,975 |
Ono Pharmaceutical Co., Ltd. | 23,400 | 593,276 |
Rohto Pharmaceutical Co., Ltd. | 20,300 | 356,175 |
Santen Pharmaceutical Co., Ltd. | 41,100 | 599,335 |
Sawai Pharmaceutical Co., Ltd. | 4,800 | 310,186 |
Sumitomo Dainippon Pharma Co., Ltd. | 31,800 | 550,765 |
Security | Number of Shares | Value ($) |
Taisho Pharmaceutical Holdings Co., Ltd. | 8,100 | 790,149 |
Tsumura & Co. | 15,300 | 434,811 |
5,538,329 | ||
Real Estate 1.5% | ||
Activia Properties, Inc. | 12 | 58,229 |
Advance Residence Investment Corp. | 110 | 307,880 |
Aeon Mall Co., Ltd. | 23,630 | 350,924 |
Daikyo, Inc. | 128,000 | 274,694 |
Frontier Real Estate Investment Corp. | 40 | 188,144 |
Hulic Co., Ltd. | 7,400 | 70,461 |
Japan Excellent, Inc. | 141 | 197,255 |
Japan Prime Realty Investment Corp. | 64 | 276,390 |
Japan Real Estate Investment Corp. | 99 | 573,293 |
Kenedix Office Investment Corp. | 43 | 242,458 |
Leopalace21 Corp. | 82,200 | 534,447 |
Mori Trust Sogo REIT, Inc. | 90 | 144,809 |
Nippon Accommodations Fund, Inc. | 43 | 195,679 |
Nippon Building Fund, Inc. | 125 | 742,780 |
Nippon Prologis REIT, Inc. | 73 | 165,211 |
Nomura Real Estate Holdings, Inc. | 37,100 | 626,495 |
NTT Urban Development Corp. | 19,500 | 179,267 |
Orix JREIT, Inc. | 180 | 308,342 |
Relo Group, Inc. | 1,300 | 215,265 |
Tokyo Tatemono Co., Ltd. | 31,000 | 393,789 |
Tokyu Fudosan Holdings Corp. | 117,900 | 664,527 |
Tokyu REIT, Inc. | 49 | 64,616 |
United Urban Investment Corp. | 214 | 361,878 |
7,136,833 | ||
Retailing 2.6% | ||
ABC-Mart, Inc. | 3,800 | 231,218 |
Adastria Co., Ltd. | 8,280 | 216,755 |
Alpen Co., Ltd. | 11,700 | 213,198 |
AOKI Holdings, Inc. | 16,400 | 198,307 |
Aoyama Trading Co., Ltd. | 14,800 | 521,386 |
Arcland Sakamoto Co., Ltd. | 17,300 | 206,060 |
ASKUL Corp. | 5,100 | 210,007 |
Autobacs Seven Co., Ltd. | 40,600 | 577,267 |
Bic Camera, Inc. | 31,500 | 271,118 |
Canon Marketing Japan, Inc. | 26,100 | 450,767 |
Chiyoda Co., Ltd. | 11,100 | 263,539 |
DCM Holdings Co., Ltd. | 76,600 | 671,040 |
Doshisha Co., Ltd. | 10,200 | 211,074 |
EDION Corp. (a) | 97,300 | 862,019 |
Fuji Co., Ltd. | 4,400 | 92,410 |
Geo Holdings Corp. | 29,200 | 370,430 |
H2O Retailing Corp. | 39,200 | 582,139 |
Hikari Tsushin, Inc. | 4,300 | 394,720 |
IDOM, Inc. | 22,700 | 118,471 |
Izumi Co., Ltd. | 9,200 | 425,188 |
Joyful Honda Co., Ltd. | 13,600 | 375,470 |
Kohnan Shoji Co., Ltd. | 22,400 | 443,078 |
Komeri Co., Ltd. | 17,200 | 419,980 |
Marui Group Co., Ltd. | 51,000 | 715,457 |
Nojima Corp. | 13,200 | 171,020 |
PALTAC Corp. | 8,900 | 218,407 |
Rakuten, Inc. | 50,060 | 577,124 |
Ryohin Keikaku Co., Ltd. | 2,700 | 576,727 |
Sanrio Co., Ltd. (a) | 11,700 | 219,147 |
Seria Co., Ltd. | 984 | 77,627 |
Shimachu Co., Ltd. | 10,600 | 284,428 |
T-Gaia Corp. | 5,200 | 79,980 |
United Arrows Ltd. | 6,600 | 180,162 |
USS Co., Ltd. | 26,700 | 451,561 |
Security | Number of Shares | Value ($) |
Xebio Holdings Co., Ltd. | 22,800 | 353,928 |
Yellow Hat Ltd. | 3,800 | 81,160 |
12,312,369 | ||
Semiconductors & Semiconductor Equipment 0.5% | ||
Advantest Corp. | 19,800 | 282,983 |
Disco Corp. | 3,200 | 386,761 |
Renesas Electronics Corp. * | 13,800 | 87,024 |
Sanken Electric Co., Ltd. * | 61,000 | 215,808 |
SCREEN Holdings Co., Ltd. | 6,200 | 424,138 |
Shindengen Electric Manufacturing Co., Ltd. | 38,000 | 164,332 |
Shinko Electric Industries Co., Ltd. | 41,200 | 265,517 |
Sumco Corp. | 25,200 | 263,656 |
Tokyo Seimitsu Co., Ltd. | 8,900 | 242,815 |
Ulvac, Inc. | 5,400 | 170,499 |
2,503,533 | ||
Software & Services 2.0% | ||
Capcom Co., Ltd. | 10,600 | 273,831 |
Dena Co., Ltd. | 34,486 | 1,109,480 |
DTS Corp. | 7,200 | 159,509 |
Fuji Soft, Inc. | 9,100 | 241,721 |
Gree, Inc. | 60,300 | 334,369 |
GungHo Online Entertainment, Inc. (a) | 35,100 | 88,805 |
Internet Initiative Japan, Inc. | 7,200 | 127,142 |
Itochu Techno-Solutions Corp. | 16,200 | 399,513 |
Konami Holdings Corp. | 24,500 | 967,564 |
NEC Networks & System Integration Corp. | 16,300 | 289,679 |
NET One Systems Co., Ltd. | 63,900 | 464,128 |
Nexon Co., Ltd. | 16,761 | 285,322 |
Nihon Unisys Ltd. | 20,700 | 252,261 |
Nomura Research Institute Ltd. | 19,600 | 679,815 |
NS Solutions Corp. | 8,200 | 156,361 |
Obic Co., Ltd. | 5,300 | 275,327 |
Oracle Corp., Japan | 5,000 | 272,114 |
Otsuka Corp. | 13,100 | 623,273 |
SCSK Corp. | 5,476 | 204,271 |
Square Enix Holdings Co., Ltd. | 11,900 | 393,644 |
TIS, Inc. | 29,200 | 660,751 |
TKC Corp. | 2,500 | 73,842 |
Transcosmos, Inc. | 9,300 | 235,299 |
Trend Micro, Inc. | 14,700 | 517,650 |
Yahoo Japan Corp. | 130,300 | 499,829 |
9,585,500 | ||
Technology Hardware & Equipment 2.5% | ||
Amano Corp. | 15,900 | 295,828 |
Anritsu Corp. | 51,600 | 273,725 |
Azbil Corp. | 19,200 | 569,392 |
Canon Electronics, Inc. | 12,300 | 191,320 |
Citizen Watch Co., Ltd. | 104,300 | 586,145 |
Daiwabo Holdings Co., Ltd. | 170,000 | 410,812 |
Eizo Corp. | 6,650 | 209,994 |
Hamamatsu Photonics K.K. | 15,800 | 478,085 |
Hirose Electric Co., Ltd. | 4,795 | 632,724 |
Hitachi High-Technologies Corp. | 21,600 | 900,850 |
Hitachi Kokusai Electric, Inc. | 11,400 | 227,704 |
Hitachi Maxell Ltd. | 25,100 | 457,414 |
Horiba Ltd. | 8,700 | 416,025 |
Hosiden Corp. | 61,400 | 455,358 |
Japan Aviation Electronics Industry Ltd. | 22,000 | 315,039 |
Mitsumi Electric Co., Ltd. *(a) | 77,600 | 471,193 |
Nichicon Corp. | 25,500 | 218,548 |
Nippon Signal Co., Ltd. | 20,300 | 180,148 |
Oki Electric Industry Co., Ltd. | 29,100 | 379,671 |
Riso Kagaku Corp. | 10,400 | 180,142 |
Security | Number of Shares | Value ($) |
Ryosan Co., Ltd. | 16,400 | 505,045 |
Ryoyo Electro Corp. | 15,700 | 199,794 |
Shimadzu Corp. | 34,000 | 494,722 |
Siix Corp. | 5,000 | 200,089 |
Taiyo Yuden Co., Ltd. | 39,600 | 423,058 |
Topcon Corp. | 9,400 | 140,302 |
Toshiba TEC Corp. * | 94,000 | 418,942 |
UKC Holdings Corp. | 11,200 | 187,409 |
Wacom Co., Ltd. | 43,900 | 132,473 |
Yaskawa Electric Corp. | 41,500 | 662,087 |
Yokogawa Electric Corp. | 52,800 | 741,680 |
11,955,718 | ||
Transportation 1.5% | ||
Fukuyama Transporting Co., Ltd. (a) | 61,000 | 347,400 |
Hitachi Transport System Ltd. | 21,500 | 443,211 |
Japan Airport Terminal Co., Ltd. (a) | 5,600 | 214,972 |
Kamigumi Co., Ltd. | 82,000 | 700,158 |
Keikyu Corp. | 54,000 | 544,800 |
Keio Corp. | 85,000 | 703,519 |
Keisei Electric Railway Co., Ltd. | 17,500 | 421,924 |
Kintetsu World Express, Inc. | 23,200 | 315,560 |
Konoike Transport Co., Ltd. | 15,400 | 203,896 |
Mitsubishi Logistics Corp. | 26,000 | 351,948 |
Mitsui-Soko Holdings Co., Ltd. | 66,000 | 199,095 |
Nankai Electric Railway Co., Ltd. | 81,000 | 367,798 |
Nikkon Holdings Co., Ltd. | 18,200 | 390,883 |
Nishi-Nippon Railroad Co., Ltd. | 75,000 | 355,547 |
Sankyu, Inc. | 115,000 | 677,207 |
Senko Co., Ltd. | 40,700 | 281,379 |
Sotetsu Holdings, Inc. | 55,000 | 268,391 |
The Sumitomo Warehouse Co., Ltd. | 45,000 | 240,574 |
Trancom Co., Ltd. | 1,100 | 64,000 |
Yusen Logistics Co., Ltd. | 7,800 | 79,412 |
7,171,674 | ||
Utilities 0.2% | ||
Hokkaido Electric Power Co., Inc. | 79,900 | 607,649 |
Shizuoka Gas Co., Ltd. | 18,200 | 142,823 |
The Okinawa Electric Power Co., Inc. | 18,850 | 436,669 |
1,187,141 | ||
190,568,518 | ||
Luxembourg 0.5% | ||
Banks 0.0% | ||
Espirito Santo Financial Group S.A. *(b)(f) | 69,773 | — |
Commercial & Professional Supplies 0.1% | ||
Regus plc | 65,403 | 198,976 |
Consumer Durables & Apparel 0.1% | ||
Samsonite International S.A. | 160,000 | 503,050 |
Materials 0.3% | ||
APERAM S.A. | 16,332 | 742,760 |
Ternium S.A. ADR | 33,174 | 793,190 |
1,535,950 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Eurofins Scientific SE | 425 | 193,140 |
Retailing 0.0% | ||
L'Occitane International S.A. | 72,000 | 148,724 |
2,579,840 | ||
Netherlands 2.0% | ||
Banks 0.1% | ||
ABN AMRO Group N.V. CVA *(c) | 16,032 | 370,013 |
Security | Number of Shares | Value ($) |
Capital Goods 0.5% | ||
Aalberts Industries N.V. | 18,645 | 588,839 |
Arcadis N.V. | 25,476 | 335,317 |
IMCD Group N.V. | 2,244 | 97,068 |
Koninklijke BAM Groep N.V | 117,770 | 547,945 |
Sensata Technologies Holding N.V. * | 12,082 | 431,690 |
TKH Group N.V. | 7,589 | 292,067 |
2,292,926 | ||
Commercial & Professional Supplies 0.0% | ||
Brunel International N.V. | 7,643 | 124,810 |
Consumer Durables & Apparel 0.0% | ||
TomTom N.V. * | 17,191 | 139,016 |
Diversified Financials 0.2% | ||
Euronext N.V. (c) | 6,184 | 247,643 |
HAL Trust (a) | 2,789 | 551,183 |
798,826 | ||
Energy 0.3% | ||
Core Laboratories N.V. | 3,048 | 295,565 |
Koninklijke Vopak N.V. | 10,352 | 522,491 |
Nostrum Oil & Gas plc * | 34,671 | 149,110 |
SBM Offshore N.V. | 41,354 | 593,610 |
1,560,776 | ||
Food & Staples Retailing 0.2% | ||
X5 Retail Group N.V. GDR - Reg'd * | 28,006 | 835,699 |
Food, Beverage & Tobacco 0.0% | ||
Refresco Group N.V. (c) | 4,102 | 59,921 |
Materials 0.1% | ||
Corbion N.V. | 20,892 | 481,949 |
OCI N.V. *(a) | 16,819 | 233,455 |
715,404 | ||
Media 0.0% | ||
Altice N.V., Class A * | 6,902 | 127,301 |
Altice N.V., Class B * | 1,418 | 26,398 |
153,699 | ||
Real Estate 0.2% | ||
Eurocommercial Properties N.V. CVA | 5,159 | 219,490 |
NSI N.V. | 35,447 | 139,089 |
Vastned Retail N.V. | 3,956 | 152,038 |
Wereldhave N.V. | 4,630 | 207,242 |
717,859 | ||
Retailing 0.0% | ||
Beter Bed Holding N.V. | 6,381 | 115,578 |
Semiconductors & Semiconductor Equipment 0.1% | ||
ASM International N.V. | 9,317 | 397,421 |
BE Semiconductor Industries N.V. | 2,459 | 80,106 |
477,527 | ||
Software & Services 0.1% | ||
InterXion Holding N.V. * | 1,694 | 63,068 |
Yandex N.V., Class A * | 14,638 | 288,222 |
351,290 | ||
Transportation 0.2% | ||
PostNL N.V. * | 157,229 | 740,496 |
9,453,840 | ||
New Zealand 1.0% | ||
Consumer Services 0.1% | ||
SKYCITY Entertainment Group Ltd. | 118,106 | 329,259 |
Energy 0.1% | ||
Z Energy Ltd. | 62,644 | 350,123 |
Food, Beverage & Tobacco 0.0% | ||
Fonterra Co-operative Group Ltd. | 53,012 | 223,662 |
Security | Number of Shares | Value ($) |
Health Care Equipment & Services 0.0% | ||
Fisher & Paykel Healthcare Corp., Ltd. | 32,971 | 208,754 |
Media 0.1% | ||
SKY Network Television Ltd. | 132,666 | 438,042 |
Real Estate 0.0% | ||
Kiwi Property Group Ltd. | 169,978 | 178,237 |
Telecommunication Services 0.1% | ||
Chorus Ltd. | 148,089 | 386,804 |
Transportation 0.2% | ||
Air New Zealand Ltd. | 202,664 | 279,556 |
Auckland International Airport Ltd. | 56,937 | 268,148 |
Mainfreight Ltd. | 18,626 | 247,221 |
794,925 | ||
Utilities 0.4% | ||
Contact Energy Ltd. | 132,359 | 450,059 |
Genesis Energy Ltd. | 126,705 | 177,589 |
Infratil Ltd. | 214,461 | 456,830 |
Mercury NZ Ltd. | 155,327 | 339,084 |
Meridian Energy Ltd. | 329,978 | 606,482 |
2,030,044 | ||
4,939,850 | ||
Norway 1.4% | ||
Automobiles & Components 0.0% | ||
Kongsberg Automotive A.S.A. * | 110,220 | 91,112 |
Banks 0.1% | ||
SpareBank 1 SMN | 36,833 | 270,819 |
Capital Goods 0.1% | ||
Veidekke A.S.A. | 20,865 | 311,835 |
Commercial & Professional Supplies 0.0% | ||
Tomra Systems A.S.A. | 16,229 | 176,190 |
Diversified Financials 0.1% | ||
Aker A.S.A., A Shares | 6,967 | 257,102 |
Energy 0.4% | ||
Aker Solutions A.S.A. * | 52,942 | 242,832 |
BW LPG Ltd. (c) | 24,098 | 77,740 |
Fred Olsen Energy A.S.A. *(a) | 131,802 | 226,192 |
Petroleum Geo-Services A.S.A. *(a) | 260,284 | 698,709 |
TGS Nopec Geophysical Co. A.S.A. | 34,490 | 697,639 |
1,943,112 | ||
Food, Beverage & Tobacco 0.1% | ||
Austevoll Seafood A.S.A. | 30,829 | 277,955 |
Bakkafrost P/F | 1,680 | 70,438 |
Leroy Seafood Group A.S.A. | 4,910 | 259,589 |
Salmar A.S.A. | 5,912 | 191,854 |
799,836 | ||
Insurance 0.2% | ||
Gjensidige Forsikring A.S.A. | 39,482 | 707,401 |
Storebrand A.S.A. * | 101,549 | 522,280 |
1,229,681 | ||
Materials 0.1% | ||
Borregaard A.S.A. | 27,061 | 265,247 |
Media 0.1% | ||
Schibsted A.S.A., B Shares | 3,244 | 73,087 |
Schibsted A.S.A., Class A | 11,639 | 278,958 |
352,045 | ||
Retailing 0.0% | ||
XXL A.S.A. (c) | 5,008 | 62,689 |
Semiconductors & Semiconductor Equipment 0.1% | ||
REC Silicon A.S.A. *(a) | 2,739,412 | 341,878 |
Security | Number of Shares | Value ($) |
Software & Services 0.1% | ||
Atea A.S.A. * | 44,668 | 400,060 |
6,501,606 | ||
Portugal 0.4% | ||
Banks 0.1% | ||
Banco Comercial Portugues S.A., Class R *(a) | 284,473 | 378,874 |
Banco Espirito Santo S.A. - Reg'd *(b)(f) | 320,558 | — |
378,874 | ||
Capital Goods 0.0% | ||
Mota-Engil SGPS, S.A. | 82,506 | 161,078 |
Food & Staples Retailing 0.1% | ||
Sonae SGPS, S.A. | 399,557 | 317,667 |
Materials 0.1% | ||
Semapa-Sociedade de Investimento e Gestao | 16,648 | 214,187 |
The Navigator Co., S.A. | 71,058 | 208,108 |
422,295 | ||
Media 0.0% | ||
NOS SGPS, S.A. | 30,095 | 199,990 |
Transportation 0.1% | ||
CTT-Correios de Portugal S.A. | 36,326 | 240,360 |
Utilities 0.0% | ||
Redes Energeticas Nacionais SGPS, S.A. | 63,825 | 186,508 |
1,906,772 | ||
Singapore 1.9% | ||
Capital Goods 0.4% | ||
Cosco Corp., (Singapore) Ltd. *(a) | 709,931 | 129,902 |
Sembcorp Marine Ltd. (a) | 420,196 | 389,621 |
Singapore Technologies Engineering Ltd. | 306,900 | 689,962 |
United Engineers Ltd. | 121,900 | 226,838 |
Yangzijiang Shipbuilding Holdings Ltd. | 772,000 | 412,722 |
1,849,045 | ||
Consumer Services 0.1% | ||
Genting Singapore plc | 991,800 | 530,729 |
Diversified Financials 0.1% | ||
Singapore Exchange Ltd. | 58,700 | 299,076 |
Energy 0.0% | ||
Sakari Resources Ltd. *(b)(f) | 18,000 | — |
Food & Staples Retailing 0.1% | ||
Olam International Ltd. (a) | 242,004 | 373,913 |
Real Estate 0.6% | ||
Ascendas Real Estate Investment Trust | 225,000 | 383,433 |
CapitaLand Commercial Trust Ltd. | 200,002 | 226,327 |
CapitaLand Mall Trust | 247,300 | 368,512 |
City Developments Ltd. | 115,000 | 700,204 |
Global Logistic Properties Ltd. | 212,100 | 269,887 |
Mapletree Greater China Commercial Trust | 199,800 | 149,449 |
Mapletree Industrial Trust | 127,400 | 157,557 |
Mapletree Logistics Trust | 186,700 | 138,888 |
Suntec Real Estate Investment Trust | 182,300 | 220,182 |
UOL Group Ltd. | 77,800 | 316,427 |
Wing Tai Holdings Ltd. | 117,300 | 142,909 |
Yanlord Land Group Ltd. | 184,400 | 183,501 |
3,257,276 |
Security | Number of Shares | Value ($) |
Semiconductors & Semiconductor Equipment 0.1% | ||
Kulicke & Soffa Industries, Inc. * | 19,827 | 262,509 |
Technology Hardware & Equipment 0.1% | ||
Venture Corp., Ltd. | 107,500 | 734,354 |
Telecommunication Services 0.1% | ||
M1 Ltd. (a) | 90,100 | 132,185 |
StarHub Ltd. | 111,400 | 270,415 |
402,600 | ||
Transportation 0.3% | ||
Hutchison Port Holdings Trust, Class U | 1,674,900 | 744,007 |
SATS Ltd. | 119,649 | 416,243 |
Singapore Post Ltd. | 222,100 | 255,196 |
1,415,446 | ||
9,124,948 | ||
Spain 1.8% | ||
Banks 0.2% | ||
Bankia S.A. | 529,654 | 465,330 |
Bankinter S.A. | 85,086 | 650,344 |
Caja de Ahorros del Mediterraneo *(b)(f) | 5,382 | — |
1,115,674 | ||
Capital Goods 0.5% | ||
Construcciones y Auxiliar de Ferrocarriles S.A. | 609 | 229,506 |
Fomento de Construcciones y Contratas S.A. * | 62,967 | 545,014 |
Gamesa Corp. Tecnologica S.A. | 20,176 | 465,832 |
Obrascon Huarte Lain S.A. (a) | 99,659 | 399,456 |
Sacyr S.A. (a) | 139,609 | 318,301 |
Zardoya Otis S.A. | 27,686 | 233,175 |
2,191,284 | ||
Commercial & Professional Supplies 0.1% | ||
Applus Services S.A. | 8,733 | 83,793 |
Prosegur Cia de Seguridad S.A. - Reg'd | 64,516 | 467,818 |
551,611 | ||
Consumer Services 0.1% | ||
Melia Hotels International S.A. | 13,028 | 160,855 |
NH Hotel Group S.A. * | 27,021 | 119,226 |
280,081 | ||
Diversified Financials 0.1% | ||
Bolsas y Mercados Espanoles, SHMSF, S.A. (a) | 10,591 | 320,083 |
Energy 0.1% | ||
Tecnicas Reunidas S.A. | 8,223 | 307,673 |
Food, Beverage & Tobacco 0.1% | ||
Ebro Foods S.A. | 17,261 | 372,205 |
Pescanova S.A. *(b)(f) | 1,125 | — |
Viscofan S.A. | 6,777 | 319,072 |
691,277 | ||
Insurance 0.1% | ||
Grupo Catalana Occidente S.A. | 7,388 | 232,657 |
Materials 0.2% | ||
Acerinox S.A. | 58,656 | 721,809 |
Ence Energia y Celulosa S.A. | 42,320 | 92,227 |
Vidrala S.A. | 3,090 | 177,235 |
991,271 |
Security | Number of Shares | Value ($) |
Media 0.1% | ||
Mediaset Espana Comunicacion S.A. | 28,480 | 317,814 |
Promotora de Informaciones S.A., Class A * | 42,851 | 297,291 |
615,105 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.0% | ||
Almirall S.A. | 7,763 | 111,594 |
Software & Services 0.1% | ||
Indra Sistemas S.A. * | 36,062 | 445,966 |
Telecommunication Services 0.0% | ||
Cellnex Telecom S.A.U. (c) | 4,126 | 67,662 |
Transportation 0.1% | ||
Aena S.A. (c) | 2,057 | 301,424 |
Utilities 0.0% | ||
EDP Renovaveis S.A. | 19,105 | 144,326 |
8,367,688 | ||
Sweden 1.9% | ||
Capital Goods 0.3% | ||
B&B Tools AB, B Shares | 9,686 | 215,675 |
Indutrade AB | 11,328 | 210,705 |
Inwido AB | 4,926 | 53,831 |
Lindab International AB | 7,198 | 61,640 |
Nibe Industrier AB, B Shares (a) | 26,220 | 195,031 |
Nolato AB, Class B | 2,515 | 72,119 |
Peab AB | 60,947 | 516,893 |
Saab AB, Class B | 10,328 | 365,793 |
1,691,687 | ||
Commercial & Professional Supplies 0.2% | ||
AF AB, B Shares | 10,459 | 191,414 |
Intrum Justitia AB | 9,250 | 285,201 |
Loomis AB, Class B | 11,660 | 331,439 |
808,054 | ||
Consumer Durables & Apparel 0.3% | ||
Husqvarna AB, B Shares | 106,116 | 797,799 |
JM AB | 17,925 | 516,049 |
Nobia AB | 12,675 | 110,477 |
1,424,325 | ||
Consumer Services 0.0% | ||
Betsson AB * | 19,579 | 188,994 |
Diversified Financials 0.2% | ||
LE Lundbergfortagen AB, B Shares | 6,317 | 408,875 |
Ratos AB, B Shares | 90,420 | 371,607 |
780,482 | ||
Energy 0.1% | ||
Lundin Petroleum AB * | 16,441 | 295,532 |
Food & Staples Retailing 0.1% | ||
Axfood AB | 18,781 | 293,508 |
ICA Gruppen AB | 7,742 | 240,348 |
533,856 | ||
Food, Beverage & Tobacco 0.0% | ||
AAK AB | 2,924 | 193,087 |
Health Care Equipment & Services 0.1% | ||
Capio AB (c) | 21,616 | 113,828 |
Elekta AB, B Shares | 49,204 | 426,615 |
540,443 | ||
Materials 0.2% | ||
BillerudKorsnas AB | 23,355 | 383,523 |
Hexpol AB | 21,348 | 175,443 |
Holmen AB, B Shares | 8,430 | 288,438 |
847,404 |
Security | Number of Shares | Value ($) |
Media 0.1% | ||
Modern Times Group MTG AB, B Shares | 13,857 | 372,940 |
Real Estate 0.2% | ||
Castellum AB | 23,679 | 320,850 |
Fabege AB | 11,807 | 199,413 |
Kungsleden AB | 24,687 | 155,660 |
Wihlborgs Fastigheter AB | 6,328 | 122,651 |
798,574 | ||
Retailing 0.1% | ||
Bilia AB, A Shares | 12,576 | 299,860 |
Clas Ohlson AB, B Shares | 9,395 | 132,633 |
Mekonomen AB | 3,178 | 56,496 |
488,989 | ||
Telecommunication Services 0.0% | ||
Com Hem Holding AB | 8,444 | 75,987 |
Transportation 0.0% | ||
SAS AB *(a) | 76,019 | 128,736 |
9,169,090 | ||
Switzerland 2.9% | ||
Automobiles & Components 0.0% | ||
Autoneum Holding AG | 245 | 64,832 |
Banks 0.1% | ||
Banque Cantonale Vaudoise - Reg'd | 334 | 209,832 |
Valiant Holding AG - Reg'd | 2,029 | 192,432 |
402,264 | ||
Capital Goods 0.8% | ||
AFG Arbonia-Forster Holding AG - Reg'd * | 12,997 | 195,044 |
Belimo Holding AG - Reg'd | 66 | 201,758 |
Bucher Industries AG - Reg'd | 1,421 | 315,683 |
Burckhardt Compression Holding AG | 453 | 131,384 |
Conzzeta AG - Reg’d | 253 | 174,752 |
Daetwyler Holding AG | 1,296 | 177,539 |
dorma+kaba Holding AG - Reg'd, Series B * | 390 | 271,005 |
Georg Fischer AG - Reg'd | 872 | 773,111 |
Implenia AG - Reg'd | 3,966 | 265,623 |
OC Oerlikon Corp. AG - Reg'd * | 46,982 | 441,676 |
Schweiter Technologies AG | 188 | 202,524 |
SFS Group AG * | 1,221 | 91,987 |
Sulzer AG - Reg'd | 4,996 | 492,012 |
Zehnder Group AG * | 3,713 | 154,290 |
3,888,388 | ||
Commercial & Professional Supplies 0.1% | ||
DKSH Holding Ltd. | 6,940 | 480,989 |
Consumer Durables & Apparel 0.1% | ||
Forbo Holding AG - Reg'd * | 184 | 234,559 |
Diversified Financials 0.2% | ||
Cembra Money Bank AG * | 3,167 | 242,062 |
GAM Holding AG * | 34,133 | 330,632 |
Partners Group Holding AG | 949 | 480,422 |
Vontobel Holding AG - Reg'd | 1,641 | 80,346 |
1,133,462 | ||
Food, Beverage & Tobacco 0.1% | ||
Barry Callebaut AG - Reg'd * | 276 | 343,709 |
Emmi AG - Reg'd * | 458 | 270,554 |
614,263 |
Security | Number of Shares | Value ($) |
Health Care Equipment & Services 0.2% | ||
Sonova Holding AG - Reg'd | 4,718 | 632,744 |
Straumann Holding AG - Reg'd | 508 | 190,597 |
823,341 | ||
Household & Personal Products 0.1% | ||
Oriflame Holding AG * | 16,423 | 603,372 |
Insurance 0.1% | ||
Helvetia Holding AG - Reg'd | 1,003 | 521,825 |
Materials 0.1% | ||
EMS-Chemie Holding AG - Reg'd | 730 | 366,420 |
Schmolz & Bickenbach AG - Reg'd * | 464,011 | 304,792 |
671,212 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
Galenica AG - Reg'd | 372 | 372,973 |
Real Estate 0.2% | ||
Allreal Holding AG - Reg'd * | 1,865 | 274,478 |
Mobimo Holding AG - Reg'd * | 424 | 102,022 |
PSP Swiss Property AG - Reg'd | 775 | 69,346 |
Swiss Prime Site AG - Reg'd * | 5,139 | 426,224 |
872,070 | ||
Retailing 0.2% | ||
Dufry AG - Reg'd * | 3,512 | 427,262 |
Valora Holding AG - Reg'd | 1,404 | 408,267 |
835,529 | ||
Software & Services 0.0% | ||
Temenos Group AG - Reg'd * | 3,237 | 209,050 |
Technology Hardware & Equipment 0.2% | ||
Inficon Holding AG - Reg'd * | 189 | 67,873 |
Kudelski S.A. - BR * | 8,241 | 142,081 |
Logitech International S.A. - Reg'd | 24,076 | 582,314 |
792,268 | ||
Telecommunication Services 0.1% | ||
Sunrise Communications Group AG *(c) | 3,396 | 232,033 |
Transportation 0.2% | ||
Flughafen Zuerich AG - Reg'd | 2,055 | 377,758 |
Panalpina Welttransport Holding AG - Reg'd | 3,408 | 442,103 |
Wizz Air Holdings plc *(c) | 3,602 | 66,516 |
886,377 | ||
Utilities 0.0% | ||
BKW AG (a) | 1,604 | 74,644 |
13,713,451 | ||
United Kingdom 10.1% | ||
Banks 0.0% | ||
The Paragon Group of Cos. plc | 43,860 | 177,894 |
Capital Goods 1.4% | ||
Bodycote plc | 45,136 | 327,118 |
Brammer plc | 65,351 | 83,189 |
Chemring Group plc * | 139,036 | 246,686 |
Diploma plc | 15,554 | 178,482 |
Fenner plc | 130,620 | 350,055 |
Galliford Try plc | 16,978 | 254,519 |
Grafton Group plc | 57,084 | 346,726 |
Howden Joinery Group plc | 52,325 | 239,604 |
Interserve plc | 74,221 | 307,516 |
Keller Group plc | 27,058 | 225,375 |
Kier Group plc | 15,575 | 259,004 |
Lavendon Group plc | 74,794 | 113,519 |
Melrose Industries plc | 426,586 | 880,343 |
Morgan Advanced Materials plc | 91,773 | 306,100 |
Security | Number of Shares | Value ($) |
QinetiQ Group plc | 128,420 | 361,649 |
Rotork plc | 146,910 | 366,505 |
Senior plc | 98,157 | 209,181 |
SIG plc | 357,286 | 483,237 |
Spirax-Sarco Engineering plc | 9,956 | 536,779 |
Ultra Electronics Holdings plc | 12,897 | 293,042 |
Vesuvius plc | 79,792 | 355,991 |
6,724,620 | ||
Commercial & Professional Supplies 1.1% | ||
Berendsen plc | 38,226 | 451,108 |
De La Rue plc | 28,989 | 203,492 |
Hays plc | 334,793 | 559,187 |
HomeServe plc | 41,364 | 308,587 |
IHS Markit Ltd. * | 21,301 | 783,664 |
Mitie Group plc | 126,468 | 325,015 |
Pagegroup plc | 78,394 | 347,126 |
PayPoint plc | 11,360 | 149,617 |
Rentokil Initial plc | 202,358 | 564,441 |
RPS Group plc | 91,913 | 190,409 |
Serco Group plc * | 531,450 | 890,052 |
WS Atkins plc | 16,093 | 297,388 |
5,070,086 | ||
Consumer Durables & Apparel 0.2% | ||
Bellway plc | 13,858 | 401,026 |
Bovis Homes Group plc | 17,397 | 161,075 |
Coats Group plc * | 770,377 | 353,603 |
Crest Nicholson Holdings plc | 23,727 | 117,925 |
1,033,629 | ||
Consumer Services 0.8% | ||
AA plc | 136,623 | 427,308 |
Domino's Pizza Group plc | 28,794 | 119,722 |
Enterprise Inns plc * | 339,640 | 383,501 |
Greene King plc | 50,684 | 453,391 |
J.D. Wetherspoon plc | 22,820 | 243,006 |
Ladbrokes plc | 313,752 | 512,249 |
Marston's plc | 159,457 | 260,814 |
Merlin Entertainments plc (c) | 54,841 | 309,074 |
Mitchells & Butlers plc | 73,285 | 249,638 |
SSP Group plc | 15,881 | 66,032 |
The Restaurant Group plc | 45,527 | 208,848 |
Thomas Cook Group plc * | 503,390 | 427,754 |
3,661,337 | ||
Diversified Financials 1.2% | ||
Aberdeen Asset Management plc | 160,813 | 629,041 |
Ashmore Group plc | 72,472 | 311,235 |
Brewin Dolphin Holdings plc | 37,834 | 120,403 |
Close Brothers Group plc | 19,431 | 315,314 |
Hargreaves Lansdown plc | 10,044 | 142,390 |
Henderson Group plc | 141,114 | 399,262 |
ICAP plc | 104,662 | 620,589 |
IG Group Holdings plc | 51,539 | 520,451 |
Intermediate Capital Group plc | 57,128 | 423,155 |
International Personal Finance plc | 95,618 | 344,415 |
Jupiter Fund Management plc | 53,459 | 281,867 |
London Stock Exchange Group plc | 13,471 | 462,709 |
Provident Financial plc | 14,777 | 532,716 |
Schroders plc | 11,620 | 399,958 |
SVG Capital plc * | 14,537 | 124,932 |
Tullett Prebon plc | 50,207 | 218,160 |
5,846,597 | ||
Energy 0.3% | ||
Enquest plc *(b)(f) | 488,440 | 23,914 |
EnQuest plc *(a) | 773,991 | 255,168 |
Hunting plc | 60,282 | 370,470 |
Security | Number of Shares | Value ($) |
Premier Oil plc * | 623,797 | 502,301 |
Soco International plc | 40,889 | 69,192 |
1,221,045 | ||
Food & Staples Retailing 0.1% | ||
Conviviality plc | 31,637 | 79,384 |
Greggs plc | 20,852 | 243,730 |
323,114 | ||
Food, Beverage & Tobacco 0.2% | ||
Britvic plc | 30,581 | 207,484 |
Cranswick plc | 11,946 | 309,692 |
Dairy Crest Group plc | 46,389 | 346,359 |
Greencore Group plc | 49,242 | 198,711 |
1,062,246 | ||
Health Care Equipment & Services 0.2% | ||
LivaNova plc * | 2,763 | 156,607 |
Spire Healthcare Group plc (c) | 15,980 | 72,616 |
STERIS plc | 6,840 | 457,049 |
686,272 | ||
Household & Personal Products 0.1% | ||
McBride plc * | 33,211 | 76,423 |
PZ Cussons plc | 53,079 | 217,580 |
294,003 | ||
Insurance 0.4% | ||
esure Group plc | 20,991 | 69,859 |
Hiscox Ltd. | 49,085 | 612,915 |
Lancashire Holdings Ltd. | 75,319 | 642,267 |
Novae Group plc | 6,202 | 61,224 |
Saga plc | 87,766 | 212,885 |
St. James's Place plc | 32,044 | 370,070 |
1,969,220 | ||
Materials 1.5% | ||
Acacia Mining plc | 41,654 | 264,355 |
Centamin plc | 133,913 | 259,374 |
Croda International plc | 15,796 | 675,513 |
Elementis plc | 97,239 | 283,595 |
Essentra plc | 32,782 | 204,323 |
Evraz plc * | 413,820 | 1,037,530 |
Hill & Smith Holdings plc | 5,534 | 68,083 |
Kazakhmys plc * | 312,237 | 1,090,635 |
Marshalls plc | 32,255 | 108,320 |
Petropavlovsk plc * | 2,081,497 | 208,916 |
Randgold Resources Ltd. | 6,843 | 607,703 |
RPC Group plc | 27,875 | 323,254 |
Synthomer plc | 47,583 | 208,156 |
Vedanta Resources plc | 146,946 | 1,283,950 |
Victrex plc | 12,493 | 267,526 |
6,891,233 | ||
Media 0.2% | ||
Cineworld Group plc | 10,049 | 66,357 |
Daily Mail & General Trust plc | 52,342 | 480,428 |
Trinity Mirror plc | 75,490 | 75,067 |
UBM plc | 50,979 | 447,591 |
1,069,443 | ||
Pharmaceuticals, Biotechnology & Life Sciences 0.1% | ||
Genus plc | 6,528 | 149,898 |
Indivior plc | 113,792 | 437,040 |
586,938 | ||
Real Estate 0.5% | ||
Countrywide plc | 20,771 | 45,578 |
Derwent London plc | 4,593 | 135,830 |
Grainger plc | 25,607 | 69,268 |
Hammerson plc | 75,634 | 508,829 |
Intu Properties plc | 117,074 | 394,566 |
Security | Number of Shares | Value ($) |
Mapeley Ltd. *(b)(f) | 2,199 | — |
Savills plc | 24,439 | 207,304 |
Segro plc | 85,637 | 458,677 |
Shaftesbury plc | 10,957 | 122,922 |
The British Land Co., plc | 62,203 | 445,336 |
2,388,310 | ||
Retailing 0.5% | ||
B&M European Value Retail S.A. | 24,935 | 71,588 |
Card Factory plc | 17,979 | 55,830 |
Dixons Carphone plc | 81,885 | 314,814 |
Dunelm Group plc | 13,416 | 124,226 |
Halfords Group plc | 77,967 | 324,130 |
Headlam Group plc | 13,543 | 81,557 |
JD Sports Fashion plc | 3,462 | 64,367 |
John Menzies plc | 38,659 | 235,055 |
Lookers plc | 113,883 | 143,923 |
N Brown Group plc | 60,864 | 142,067 |
Pendragon plc | 791,992 | 290,820 |
Pets at Home Group plc | 28,709 | 74,988 |
Sports Direct International plc *(a) | 59,639 | 201,657 |
Vertu Motors plc | 169,238 | 88,555 |
WH Smith plc | 19,077 | 343,376 |
2,556,953 | ||
Semiconductors & Semiconductor Equipment 0.1% | ||
Dialog Semiconductor plc * | 4,589 | 180,472 |
Software & Services 0.3% | ||
AVEVA Group plc | 8,797 | 198,070 |
Computacenter plc | 30,959 | 275,299 |
Fidessa Group plc | 6,908 | 207,918 |
Micro Focus International plc | 12,152 | 318,207 |
Moneysupermarket.com Group plc | 48,827 | 156,335 |
Playtech plc | 21,594 | 244,943 |
Rightmove plc | 1,198 | 54,685 |
1,455,457 | ||
Technology Hardware & Equipment 0.4% | ||
e2v Technologies plc | 43,063 | 114,016 |
Electrocomponents plc | 131,897 | 601,533 |
Halma plc | 32,771 | 419,531 |
Laird plc | 49,623 | 88,071 |
Spectris plc | 24,543 | 614,520 |
Spirent Communications plc | 220,416 | 221,902 |
2,059,573 | ||
Telecommunication Services 0.1% | ||
KCOM Group plc | 127,296 | 183,467 |
TalkTalk Telecom Group plc (a) | 144,727 | 360,669 |
544,136 | ||
Transportation 0.4% | ||
BBA Aviation plc | 178,744 | 565,193 |
Go-Ahead Group plc | 9,143 | 231,896 |
National Express Group plc | 135,013 | 606,520 |
Northgate plc | 77,272 | 397,950 |
Stagecoach Group plc | 99,139 | 239,821 |
2,041,380 | ||
Utilities 0.0% | ||
Telecom Plus plc | 10,810 | 156,660 |
48,000,618 | ||
Total Common Stock | ||
(Cost $418,316,515) | 466,853,667 | |
Security | Number of Shares | Value ($) |
Preferred Stock 0.3% of net assets | ||
Germany 0.2% | ||
Automobiles & Components 0.0% | ||
Schaeffler AG | 7,149 | 108,376 |
Capital Goods 0.1% | ||
Jungheinrich AG | 8,988 | 283,770 |
Health Care Equipment & Services 0.1% | ||
Draegerwerk AG & Co. KGaA | 5,473 | 390,863 |
Transportation 0.0% | ||
Sixt SE | 5,380 | 240,201 |
1,023,210 | ||
Italy 0.0% | ||
Capital Goods 0.0% | ||
Danieli S.p.A. - Officine Meccaniche Danieli & C. - RSP | 12,399 | 166,091 |
Sweden 0.1% | ||
Transportation 0.1% | ||
SAS AB | 3,078 | 188,453 |
United Kingdom 0.0% | ||
Household & Personal Products 0.0% | ||
Mcbride plc *(b)(f) | 797,064 | 975 |
Total Preferred Stock | ||
(Cost $1,291,278) | 1,378,729 | |
Rights 0.0% of net assets | ||
Australia 0.0% | ||
Media 0.0% | ||
APN News & Media Ltd. expires 02/27/17* | 21,524 | 4,584 |
Total Rights | ||
(Cost $—) | 4,584 | |
Other Investment Company 2.7% of net assets | ||
United States 2.7% | ||
Securities Lending Collateral 2.7% | ||
Wells Fargo Government Money Market Fund, Select Class 0.32% (d) | 12,674,005 | 12,674,005 |
Total Other Investment Company | ||
(Cost $12,674,005) | 12,674,005 | |
Security Rate, Maturity Date | Face Amount Local Currency | Value ($) |
Short-Term Investments 1.1% of net assets | ||
Time Deposits 1.1% | ||
Australia & New Zealand Banking Group Ltd. | ||
New Zealand Dollar | ||
0.75%, 11/01/16 (e) | 75,951 | 54,313 |
Bank of Montreal | ||
Canadian Dollar | ||
0.05%, 11/01/16 (e) | 823,976 | 614,311 |
Security Rate, Maturity Date | Face Amount Local Currency | Value ($) |
BNP Paribas | ||
Hong Kong Dollar | ||
0.01%, 11/01/16 (e) | 425,213 | 54,827 |
Brown Brothers Harriman | ||
Australian Dollar | ||
0.48%, 11/01/16 (e) | 13,665 | 10,395 |
Danish Krone | ||
(0.50%), 11/01/16 (e) | 32,012 | 4,725 |
Euro | ||
(0.57%), 11/01/16 (e) | 12,598 | 13,829 |
Norwegian Krone | ||
0.09%, 11/01/16 (e) | 86,107 | 10,422 |
Swedish Krone | ||
(1.05%), 11/01/16 (e) | 76,901 | 8,514 |
Swiss Franc | ||
(1.45%), 11/01/16 (e) | 19,351 | 19,555 |
ING Bank | ||
Singapore Dollar | ||
0.01%, 11/01/16 (e) | 78,977 | 56,767 |
Sumitomo Mitsui Banking Corp. | ||
Great British Pound | ||
0.05%, 11/01/16 (e) | 464,913 | 569,054 |
Japanese Yen | ||
(0.42%), 11/01/16 (e) | 4,013,296 | 38,269 |
U.S. Dollar | ||
0.15%, 11/01/16 (e) | 3,587,443 | 3,587,443 |
Total Short-Term Investments | ||
(Cost $5,042,424) | 5,042,424 |
* | Non-income producing security. |
(a) | All or a portion of this security is on loan. Securities on loan were valued at $11,642,227. |
(b) | Illiquid security. At the period end, the value of these amounted to $24,889 or 0.0% of net assets. |
(c) | Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registrations, normally to qualified institutional buyers. At the period end, the value of these amounted to $3,631,609 or 0.8% of net assets. |
(d) | The rate shown is the 7-day yield. |
(e) | The rate shown is the current daily overnight rate. |
(f) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
ADR — | American Depositary Receipt |
CDI — | CHESS Depositary Interest |
CVA — | Dutch Certificate |
GDR — | Global Depositary Receipt |
Reg'd — | Registered |
REIT — | Real Estate Investment Trust |
RSP — | Risparmio (Convertible Savings Shares) |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
MSCI EAFE, e-mini, Long, expires 12/16/16 | 80 | 6,662,800 | (50,330) |
Holdings by Category | Cost ($) | Value ($) | |
85.6% | Common Stock | 271,859,684 | 287,081,355 |
14.3% | Preferred Stock | 38,095,111 | 48,115,382 |
0.3% | Short-Term Investments | 981,984 | 981,984 |
100.2% | Total Investments | 310,936,779 | 336,178,721 |
(0.2%) | Other Assets and Liabilities, Net | (584,508) | |
100.0% | Net Assets | 335,594,213 |
Security | Number of Shares | Value ($) |
Common Stock 85.6% of net assets | ||
Brazil 8.7% | ||
Banks 1.4% | ||
Banco Bradesco S.A. | 104,739 | 1,041,155 |
Banco do Brasil S.A. | 396,215 | 3,635,695 |
4,676,850 | ||
Capital Goods 0.1% | ||
Embraer S.A. | 83,451 | 448,366 |
Diversified Financials 0.2% | ||
BM&F Bovespa S.A. - Bolsa de Valores Mercadorias e Futuros | 98,733 | 581,510 |
Energy 2.8% | ||
Petroleo Brasileiro S.A. * | 1,382,458 | 8,073,000 |
Ultrapar Participacoes S.A. | 51,514 | 1,167,296 |
9,240,296 | ||
Food, Beverage & Tobacco 1.0% | ||
Ambev S.A. | 321,050 | 1,893,913 |
BRF S.A. | 47,718 | 798,290 |
JBS S.A. | 169,300 | 515,007 |
3,207,210 | ||
Insurance 0.1% | ||
Sul America S.A. | 61,571 | 371,702 |
Materials 2.1% | ||
Companhia Siderurgica Nacional S.A. * | 271,616 | 913,896 |
Vale S.A. * | 873,876 | 6,044,857 |
6,958,753 | ||
Software & Services 0.1% | ||
Cielo S.A. | 38,545 | 391,246 |
Telecommunication Services 0.2% | ||
Tim Participacoes S.A. | 201,847 | 560,265 |
Transportation 0.1% | ||
CCR S.A. | 84,200 | 457,666 |
Utilities 0.6% | ||
Centrais Eletricas Brasileiras S.A. * | 125,916 | 934,903 |
Companhia de Saneamento Basico do Estado de Sao Paulo | 66,910 | 706,412 |
CPFL Energia S.A. | 63,861 | 484,559 |
2,125,874 | ||
29,019,738 | ||
Security | Number of Shares | Value ($) |
Chile 0.6% | ||
Energy 0.2% | ||
Empresas Copec S.A. | 59,044 | 593,296 |
Food & Staples Retailing 0.2% | ||
Cencosud S.A. | 182,283 | 594,244 |
Transportation 0.1% | ||
Latam Airlines Group S.A. * | 48,929 | 469,622 |
Utilities 0.1% | ||
Enersis Americas S.A. | 2,448,559 | 413,720 |
2,070,882 | ||
China 15.0% | ||
Automobiles & Components 0.1% | ||
Dongfeng Motor Group Co., Ltd., Class H | 328,000 | 341,867 |
Banks 6.0% | ||
Agricultural Bank of China Ltd., Class H | 2,768,600 | 1,164,669 |
Bank of China Ltd., Class H | 8,614,234 | 3,860,202 |
Bank of Communications Co., Ltd., Class H | 752,000 | 571,575 |
China CITIC Bank Corp., Ltd., Class H | 631,000 | 406,951 |
China Construction Bank Corp., Class H | 10,516,960 | 7,679,976 |
China Merchants Bank Co., Ltd., Class H | 271,350 | 659,855 |
China Minsheng Banking Corp., Ltd., Class H | 447,500 | 509,173 |
Industrial & Commercial Bank of China Ltd., Class H | 8,768,172 | 5,263,001 |
20,115,402 | ||
Capital Goods 0.4% | ||
China Communications Construction Co., Ltd., Class H | 384,322 | 422,006 |
China Railway Construction Corp., Ltd., Class H | 208,000 | 260,005 |
China Railway Group Ltd., Class H | 315,000 | 242,816 |
CITIC Ltd. | 173,000 | 248,250 |
1,173,077 | ||
Consumer Durables & Apparel 0.2% | ||
Belle International Holdings Ltd. | 859,000 | 518,735 |
Energy 3.7% | ||
China Petroleum & Chemical Corp., Class H | 6,915,400 | 5,001,220 |
China Shenhua Energy Co., Ltd., Class H | 573,500 | 1,188,993 |
CNOOC Ltd. | 2,632,075 | 3,311,871 |
Kunlun Energy Co., Ltd. | 338,000 | 254,671 |
PetroChina Co., Ltd., Class H | 3,670,000 | 2,511,143 |
12,267,898 | ||
Food, Beverage & Tobacco 0.1% | ||
China Resources Beer Holdings Co., Ltd. * | 191,000 | 405,888 |
Security | Number of Shares | Value ($) |
Health Care Equipment & Services 0.1% | ||
Sinopharm Group Co., Ltd., Class H | 65,600 | 318,554 |
Insurance 0.6% | ||
China Life Insurance Co., Ltd., Class H | 246,000 | 609,030 |
China Pacific Insurance Group Co., Ltd., Class H | 99,000 | 356,934 |
PICC Property & Casualty Co., Ltd., Class H | 180,000 | 290,538 |
Ping An Insurance Group Co. of China Ltd., Class H | 151,000 | 794,791 |
2,051,293 | ||
Materials 0.3% | ||
Anhui Conch Cement Co., Ltd., Class H | 106,000 | 292,975 |
China National Building Material Co., Ltd., Class H | 1,158,000 | 528,427 |
Jiangxi Copper Co., Ltd., Class H | 286,000 | 337,618 |
1,159,020 | ||
Real Estate 0.3% | ||
China Evergrande Group | 405,000 | 266,585 |
China Overseas Land & Investment Ltd. | 170,000 | 521,881 |
China Resources Land Ltd. | 110,000 | 273,189 |
1,061,655 | ||
Software & Services 0.5% | ||
Alibaba Group Holding Ltd. ADR * | 4,049 | 411,743 |
Baidu, Inc. ADR * | 2,355 | 416,505 |
Tencent Holdings Ltd. | 30,600 | 810,971 |
1,639,219 | ||
Technology Hardware & Equipment 0.1% | ||
Lenovo Group Ltd. | 738,000 | 472,750 |
Telecommunication Services 2.4% | ||
China Mobile Ltd. | 516,055 | 5,912,128 |
China Telecom Corp., Ltd., Class H | 2,161,000 | 1,114,131 |
China Unicom (Hong Kong) Ltd. | 977,056 | 1,147,076 |
8,173,335 | ||
Utilities 0.2% | ||
China Resources Power Holdings Co., Ltd. | 220,000 | 372,759 |
Huaneng Power International, Inc., Class H | 494,000 | 303,651 |
676,410 | ||
50,375,103 | ||
Colombia 0.4% | ||
Banks 0.1% | ||
Bancolombia S.A. | 24,180 | 213,109 |
Energy 0.2% | ||
Ecopetrol S.A. * | 2,223,498 | 968,738 |
Materials 0.1% | ||
Grupo Argos S.A. | 40,969 | 265,698 |
1,447,545 | ||
Czech Republic 0.2% | ||
Utilities 0.2% | ||
CEZ A/S | 42,750 | 806,316 |
Security | Number of Shares | Value ($) |
Greece 0.7% | ||
Banks 0.3% | ||
Alpha Bank AE * | 174,938 | 299,121 |
National Bank of Greece S.A. * | 1,848,688 | 378,093 |
Piraeus Bank S.A. * | 1,535,886 | 254,002 |
931,216 | ||
Consumer Services 0.2% | ||
OPAP S.A. | 69,151 | 589,792 |
Telecommunication Services 0.1% | ||
Hellenic Telecommunications Organization S.A. | 38,559 | 353,596 |
Utilities 0.1% | ||
Public Power Corp. S.A. * | 99,096 | 323,753 |
2,198,357 | ||
Hungary 0.5% | ||
Banks 0.2% | ||
OTP Bank plc | 26,109 | 731,682 |
Energy 0.3% | ||
MOL Hungarian Oil & Gas plc | 11,976 | 768,143 |
1,499,825 | ||
India 4.0% | ||
Automobiles & Components 0.4% | ||
Mahindra & Mahindra Ltd. | 19,047 | 375,822 |
Tata Motors Ltd. | 115,610 | 922,171 |
Tata Motors Ltd., Class A | 21,083 | 109,322 |
1,407,315 | ||
Banks 0.6% | ||
Housing Development Finance Corp., Ltd. | 36,958 | 763,254 |
ICICI Bank Ltd. | 157,414 | 654,753 |
State Bank of India | 155,572 | 600,965 |
2,018,972 | ||
Energy 1.7% | ||
Bharat Petroleum Corp., Ltd. | 45,717 | 459,001 |
Coal India Ltd. | 80,627 | 393,275 |
Indian Oil Corp., Ltd. | 144,384 | 700,705 |
Oil & Natural Gas Corp., Ltd. | 313,146 | 1,353,717 |
Reliance Industries Ltd. | 173,010 | 2,722,830 |
5,629,528 | ||
Food, Beverage & Tobacco 0.1% | ||
ITC Ltd. | 96,440 | 349,196 |
Materials 0.3% | ||
Hindalco Industries Ltd. | 255,308 | 574,195 |
Tata Steel Ltd. | 73,747 | 448,007 |
1,022,202 | ||
Software & Services 0.5% | ||
Infosys Ltd. | 82,365 | 1,234,857 |
Tata Consultancy Services Ltd. | 15,831 | 566,911 |
1,801,768 | ||
Telecommunication Services 0.2% | ||
Bharti Airtel Ltd. | 131,137 | 626,245 |
Utilities 0.2% | ||
NTPC Ltd. | 217,566 | 492,265 |
13,347,491 | ||
Security | Number of Shares | Value ($) |
Indonesia 1.4% | ||
Automobiles & Components 0.4% | ||
PT Astra International Tbk | 1,745,200 | 1,101,060 |
Banks 0.4% | ||
PT Bank Central Asia Tbk | 341,500 | 406,025 |
PT Bank Mandiri (Persero) Tbk | 547,200 | 482,000 |
PT Bank Rakyat Indonesia (Persero) Tbk | 547,900 | 511,612 |
1,399,637 | ||
Energy 0.1% | ||
PT United Tractors Tbk | 253,100 | 418,686 |
Food, Beverage & Tobacco 0.1% | ||
Golden Agri-Resources Ltd. | 1,224,963 | 338,248 |
Telecommunication Services 0.3% | ||
PT Telekomunikasi Indonesia (Persero) Tbk | 3,365,000 | 1,086,470 |
Utilities 0.1% | ||
PT Perusahaan Gas Negara (Persero) Tbk | 1,689,300 | 330,897 |
4,674,998 | ||
Malaysia 1.7% | ||
Banks 0.5% | ||
CIMB Group Holdings Berhad | 359,800 | 431,029 |
Malayan Banking Berhad | 421,800 | 794,175 |
Public Bank Berhad | 129,465 | 612,914 |
1,838,118 | ||
Capital Goods 0.2% | ||
Sime Darby Berhad | 279,800 | 546,414 |
Consumer Services 0.1% | ||
Genting Berhad | 263,200 | 491,838 |
Materials 0.1% | ||
Petronas Chemicals Group Berhad | 214,700 | 358,260 |
Telecommunication Services 0.5% | ||
Axiata Group Berhad | 520,800 | 610,596 |
DiGi.com Berhad | 251,200 | 301,200 |
Maxis Berhad | 241,854 | 343,583 |
Telekom Malaysia Berhad | 196,700 | 306,655 |
1,562,034 | ||
Utilities 0.3% | ||
Tenaga Nasional Berhad | 284,200 | 971,497 |
5,768,161 | ||
Mexico 2.9% | ||
Banks 0.3% | ||
Grupo Financiero Banorte S.A.B. de C.V., Class O | 88,900 | 523,542 |
Grupo Financiero Santander Mexico S.A.B. de C.V., Class B | 188,000 | 340,272 |
863,814 | ||
Capital Goods 0.1% | ||
Alfa S.A.B. de C.V., Class A | 294,000 | 445,799 |
Food & Staples Retailing 0.3% | ||
Wal-Mart de Mexico S.A.B. de C.V. | 408,537 | 864,367 |
Security | Number of Shares | Value ($) |
Food, Beverage & Tobacco 0.5% | ||
Coca-Cola Femsa S.A.B. de C.V., Series L | 40,500 | 304,227 |
Fomento Economico Mexicano S.A.B. de C.V. | 96,115 | 921,943 |
Grupo Bimbo S.A.B. de C.V., Series A | 127,700 | 343,961 |
1,570,131 | ||
Materials 0.8% | ||
Cemex S.A.B. de C.V., Series CPO * | 1,629,900 | 1,410,780 |
Grupo Mexico S.A.B. de C.V., Series B | 373,536 | 920,352 |
Industrias Penoles S.A.B. de C.V. | 21,240 | 515,116 |
2,846,248 | ||
Media 0.2% | ||
Grupo Televisa S.A.B., Series CPO | 137,917 | 678,603 |
Telecommunication Services 0.7% | ||
America Movil S.A.B. de C.V., Series L | 3,554,119 | 2,354,244 |
9,623,206 | ||
Peru 0.1% | ||
Banks 0.1% | ||
Credicorp Ltd. | 2,870 | 426,712 |
Philippines 0.1% | ||
Telecommunication Services 0.1% | ||
PLDT, Inc. | 12,710 | 401,106 |
Poland 1.9% | ||
Banks 0.3% | ||
Bank Pekao S.A. | 10,969 | 338,548 |
Powszechna Kasa Oszczednosci Bank Polski S.A. | 98,093 | 687,164 |
1,025,712 | ||
Energy 0.6% | ||
Polski Koncern Naftowy Orlen S.A. | 89,614 | 1,775,463 |
Polskie Gornictwo Naftowe i Gazownictwo S.A. | 238,182 | 304,923 |
2,080,386 | ||
Insurance 0.2% | ||
Powszechny Zaklad Ubezpieczen S.A. | 74,464 | 517,024 |
Materials 0.4% | ||
KGHM Polska Miedz S.A. | 64,137 | 1,164,114 |
Telecommunication Services 0.1% | ||
Orange Polska S.A. | 317,708 | 453,600 |
Utilities 0.3% | ||
PGE S.A. | 225,745 | 591,474 |
Tauron Polska Energia S.A. * | 634,825 | 428,977 |
1,020,451 | ||
6,261,287 | ||
Republic of Korea 15.6% | ||
Automobiles & Components 2.0% | ||
Hankook Tire Co., Ltd. | 7,591 | 364,528 |
Hyundai Mobis Co., Ltd. | 7,449 | 1,776,648 |
Hyundai Motor Co. | 23,535 | 2,873,374 |
Kia Motors Corp. | 49,391 | 1,753,811 |
6,768,361 | ||
Banks 1.2% | ||
Hana Financial Group, Inc. | 31,207 | 892,588 |
Industrial Bank Of Korea | 32,674 | 376,114 |
Security | Number of Shares | Value ($) |
KB Financial Group, Inc. | 31,800 | 1,177,134 |
Shinhan Financial Group Co., Ltd. | 44,379 | 1,697,682 |
4,143,518 | ||
Capital Goods 1.3% | ||
CJ Corp. | 1,525 | 232,173 |
Daelim Industrial Co., Ltd. | 4,681 | 333,582 |
Hyundai Engineering & Construction Co., Ltd. | 13,440 | 485,461 |
Hyundai Heavy Industries Co., Ltd. * | 13,782 | 1,747,837 |
LG Corp. | 10,383 | 555,243 |
LG International Corp. | 9,456 | 229,797 |
Samsung Heavy Industries Co., Ltd. * | 55,418 | 470,971 |
SK Networks Co., Ltd. | 80,739 | 458,866 |
4,513,930 | ||
Consumer Durables & Apparel 0.4% | ||
LG Electronics, Inc. | 31,678 | 1,320,571 |
Energy 0.9% | ||
GS Holdings Corp. | 8,860 | 394,169 |
S-Oil Corp. | 8,178 | 558,865 |
SK Innovation Co., Ltd. | 16,572 | 2,181,443 |
3,134,477 | ||
Food & Staples Retailing 0.2% | ||
E-Mart, Inc. | 3,511 | 497,860 |
Food, Beverage & Tobacco 0.2% | ||
KT&G Corp. | 7,093 | 699,583 |
Insurance 0.3% | ||
Samsung Fire & Marine Insurance Co., Ltd. | 2,113 | 537,549 |
Samsung Life Insurance Co., Ltd. | 5,363 | 517,529 |
1,055,078 | ||
Materials 1.9% | ||
Hyundai Steel Co. | 12,482 | 537,848 |
LG Chem Ltd. | 5,508 | 1,183,008 |
Lotte Chemical Corp. | 1,983 | 498,233 |
POSCO | 20,698 | 4,306,683 |
6,525,772 | ||
Retailing 0.1% | ||
Lotte Shopping Co., Ltd. | 1,921 | 383,287 |
Semiconductors & Semiconductor Equipment 0.6% | ||
SK Hynix, Inc. | 51,882 | 1,855,644 |
Technology Hardware & Equipment 5.7% | ||
LG Display Co., Ltd. | 60,870 | 1,455,379 |
Samsung Electro-Mechanics Co., Ltd. | 9,926 | 407,481 |
Samsung Electronics Co., Ltd. | 11,785 | 16,856,417 |
Samsung SDI Co., Ltd. | 4,355 | 358,444 |
19,077,721 | ||
Telecommunication Services 0.1% | ||
LG Uplus Corp. | 37,489 | 386,369 |
Transportation 0.2% | ||
Hyundai Glovis Co., Ltd. | 1,594 | 241,285 |
Korean Air Lines Co., Ltd. * | 10,541 | 294,654 |
535,939 | ||
Utilities 0.5% | ||
Korea Electric Power Corp. | 26,920 | 1,164,576 |
Korea Gas Corp. | 9,304 | 376,057 |
1,540,633 | ||
52,438,743 | ||
Security | Number of Shares | Value ($) |
Russia 11.3% | ||
Banks 0.5% | ||
Sberbank of Russia PJSC * | 646,260 | 1,502,474 |
VTB Bank PJSC * | 170,000,000 | 181,730 |
1,684,204 | ||
Energy 8.9% | ||
Gazprom PJSC * | 4,370,370 | 9,570,507 |
Gazprom PJSC ADR | 878,000 | 3,785,829 |
Lukoil PJSC | 204,336 | 9,990,995 |
NovaTek OJSC * | 90,010 | 938,130 |
Rosneft PJSC * | 153,700 | 842,788 |
Surgutneftegas OJSC | 7,083,005 | 3,018,040 |
Tatneft PJSC * | 320,540 | 1,794,787 |
29,941,076 | ||
Food & Staples Retailing 0.2% | ||
Magnit PJSC * | 4,214 | 706,529 |
Materials 0.4% | ||
MMC Norilsk Nickel PJSC * | 9,320 | 1,373,570 |
Telecommunication Services 0.8% | ||
Mobile TeleSystems PJSC * | 324,742 | 1,144,770 |
Rostelecom PJSC * | 410,480 | 511,536 |
Sistema JSFC * | 3,153,400 | 958,684 |
2,614,990 | ||
Transportation 0.4% | ||
Aeroflot Russian Airlines PJSC * | 409,600 | 839,534 |
Globaltrans Investment plc GDR - Reg'd | 82,325 | 399,276 |
1,238,810 | ||
Utilities 0.1% | ||
Rosseti PJSC * | 1 | — |
RusHydro PJSC | 40,687,000 | 510,134 |
510,134 | ||
38,069,313 | ||
South Africa 6.2% | ||
Banks 0.8% | ||
Barclays Africa Group Ltd. | 48,355 | 561,133 |
Nedbank Group Ltd. | 28,429 | 465,355 |
Standard Bank Group Ltd. | 164,981 | 1,751,320 |
2,777,808 | ||
Capital Goods 0.3% | ||
Barloworld Ltd. | 82,856 | 535,182 |
The Bidvest Group Ltd. | 46,228 | 574,345 |
1,109,527 | ||
Consumer Durables & Apparel 0.2% | ||
Steinhoff International Holdings N.V. | 92,154 | 497,140 |
Diversified Financials 0.3% | ||
African Bank Investments Ltd. *(a)(c) | 319,000 | — |
FirstRand Ltd. | 252,552 | 905,592 |
905,592 | ||
Energy 0.9% | ||
Sasol Ltd. | 114,014 | 3,148,495 |
Food & Staples Retailing 0.3% | ||
Bid Corp., Ltd. | 17,852 | 313,490 |
Shoprite Holdings Ltd. | 51,459 | 759,403 |
1,072,893 | ||
Food, Beverage & Tobacco 0.2% | ||
Tiger Brands Ltd. | 16,371 | 466,187 |
Health Care Equipment & Services 0.1% | ||
Netcare Ltd. | 124,906 | 320,768 |
Security | Number of Shares | Value ($) |
Insurance 0.2% | ||
Sanlam Ltd. | 128,213 | 621,025 |
Materials 1.2% | ||
AngloGold Ashanti Ltd. * | 65,699 | 894,537 |
Gold Fields Ltd. | 207,169 | 854,421 |
Impala Platinum Holdings Ltd. * | 206,862 | 835,857 |
Kumba Iron Ore Ltd. * | 111,689 | 1,137,405 |
Sappi Ltd. * | 62,922 | 349,988 |
4,072,208 | ||
Media 0.2% | ||
Naspers Ltd., N Shares | 4,043 | 677,123 |
Retailing 0.3% | ||
Imperial Holdings Ltd. | 54,240 | 685,089 |
Woolworths Holdings Ltd. | 62,372 | 361,229 |
1,046,318 | ||
Telecommunication Services 1.2% | ||
MTN Group Ltd. | 376,011 | 3,247,733 |
Telkom SA SOC Ltd. | 92,597 | 426,825 |
Vodacom Group Ltd. | 34,442 | 371,593 |
4,046,151 | ||
20,761,235 | ||
Taiwan 11.5% | ||
Automobiles & Components 0.1% | ||
Cheng Shin Rubber Industry Co., Ltd. | 162,000 | 329,600 |
Banks 0.3% | ||
CTBC Financial Holding Co., Ltd. | 879,201 | 472,828 |
Mega Financial Holding Co., Ltd. | 632,340 | 432,321 |
905,149 | ||
Capital Goods 0.3% | ||
Far Eastern New Century Corp. | 653,817 | 505,886 |
Walsin Lihwa Corp. | 1,085,000 | 379,579 |
885,465 | ||
Consumer Durables & Apparel 0.1% | ||
Pou Chen Corp. | 296,267 | 399,745 |
Diversified Financials 0.1% | ||
Fubon Financial Holding Co., Ltd. | 305,674 | 432,500 |
Energy 0.2% | ||
Formosa Petrochemical Corp. | 185,330 | 618,794 |
Food, Beverage & Tobacco 0.2% | ||
Uni-President Enterprises Corp. | 338,678 | 654,342 |
Insurance 0.1% | ||
Cathay Financial Holding Co., Ltd. | 342,599 | 443,384 |
Materials 1.5% | ||
China Steel Corp. | 1,574,198 | 1,136,992 |
Formosa Chemicals & Fibre Corp. | 442,442 | 1,313,612 |
Formosa Plastics Corp. | 403,732 | 1,091,026 |
Nan Ya Plastics Corp. | 474,622 | 985,659 |
Taiwan Cement Corp. | 517,299 | 619,606 |
5,146,895 | ||
Retailing 0.1% | ||
Hotai Motor Co., Ltd. | 27,000 | 313,634 |
Semiconductors & Semiconductor Equipment 2.5% | ||
Advanced Semiconductor Engineering, Inc. | 532,094 | 625,199 |
MediaTek, Inc. | 132,138 | 1,001,593 |
Taiwan Semiconductor Manufacturing Co., Ltd. | 1,017,103 | 6,103,993 |
United Microelectronics Corp. | 2,165,965 | 806,181 |
8,536,966 |
Security | Number of Shares | Value ($) |
Technology Hardware & Equipment 5.4% | ||
Acer, Inc. * | 1,478,496 | 677,487 |
Asustek Computer, Inc. | 139,041 | 1,217,202 |
AU Optronics Corp. | 3,066,800 | 1,164,828 |
Catcher Technology Co., Ltd. | 33,000 | 258,322 |
Compal Electronics, Inc. | 1,738,305 | 1,033,625 |
Delta Electronics, Inc. | 141,590 | 745,411 |
Foxconn Technology Co., Ltd. | 126,317 | 366,169 |
Hon Hai Precision Industry Co., Ltd. | 2,130,466 | 5,754,733 |
HTC Corp. * | 334,473 | 976,962 |
Innolux Corp. | 3,388,357 | 1,140,615 |
Inventec Corp. | 589,639 | 460,349 |
Lite-On Technology Corp. | 441,167 | 632,457 |
Pegatron Corp. | 291,264 | 784,309 |
Quanta Computer, Inc. | 494,500 | 1,000,358 |
Synnex Technology International Corp. | 412,850 | 439,873 |
Wistron Corp. | 1,165,653 | 878,312 |
WPG Holdings Ltd. | 414,000 | 484,611 |
18,015,623 | ||
Telecommunication Services 0.6% | ||
Chunghwa Telecom Co., Ltd. | 373,906 | 1,280,315 |
Far EasTone Telecommunications Co., Ltd. | 134,622 | 318,127 |
Taiwan Mobile Co., Ltd. | 107,334 | 375,545 |
1,973,987 | ||
38,656,084 | ||
Thailand 1.5% | ||
Banks 0.2% | ||
Kasikornbank PCL | 66,700 | 327,487 |
The Siam Commercial Bank PCL | 102,000 | 418,230 |
745,717 | ||
Energy 0.9% | ||
PTT Exploration & Production PCL | 253,300 | 602,535 |
PTT PCL | 199,087 | 1,968,258 |
Thai Oil PCL | 192,500 | 385,028 |
2,955,821 | ||
Materials 0.3% | ||
PTT Global Chemical PCL | 349,800 | 599,700 |
The Siam Cement PCL - Reg'd | 20,000 | 288,010 |
887,710 | ||
Telecommunication Services 0.1% | ||
Advanced Info Service PCL - Reg'd | 96,975 | 425,335 |
5,014,583 | ||
Turkey 1.2% | ||
Banks 0.6% | ||
Akbank T.A.S. | 208,022 | 556,700 |
Turkiye Garanti Bankasi A/S | 234,502 | 638,112 |
Turkiye Halk Bankasi A/S | 107,263 | 326,217 |
Turkiye Is Bankasi, Class C | 243,101 | 394,740 |
1,915,769 | ||
Capital Goods 0.2% | ||
KOC Holding A/S | 126,215 | 526,451 |
Diversified Financials 0.1% | ||
Haci Omer Sabanci Holding A/S | 141,951 | 429,225 |
Energy 0.1% | ||
Tupras-Turkiye Petrol Rafinerileri A/S | 23,201 | 473,159 |
Materials 0.1% | ||
Eregli Demir ve Celik Fabrikalari TAS | 197,836 | 268,998 |
Security | Number of Shares | Value ($) |
Telecommunication Services 0.1% | ||
Turkcell Iletisim Hizmetleri A/S * | 121,023 | 390,238 |
4,003,840 | ||
United Arab Emirates 0.1% | ||
Telecommunication Services 0.1% | ||
Emirates Telecommunications Group Co. PJSC | 42,263 | 216,830 |
Total Common Stock | ||
(Cost $271,859,684) | 287,081,355 | |
Preferred Stock 14.3% of net assets | ||
Brazil 12.1% | ||
Banks 3.4% | ||
Banco Bradesco S.A. | 406,816 | 4,261,882 |
Itau Unibanco Holding S.A. | 529,285 | 6,367,339 |
Itausa - Investimentos Itau S.A. | 260,703 | 771,001 |
11,400,222 | ||
Energy 3.6% | ||
Petroleo Brasileiro S.A. * | 2,182,154 | 12,093,454 |
Food & Staples Retailing 0.3% | ||
Compania Brasileira de Distribuicao Grupo Pao de Acucar | 49,115 | 938,601 |
Materials 3.6% | ||
Gerdau S.A. | 682,206 | 2,355,235 |
Metalurgica Gerdau S.A. * | 1,237,777 | 1,841,930 |
Vale S.A. * | 1,245,128 | 8,047,303 |
12,244,468 | ||
Telecommunication Services 0.3% | ||
Telefonica Brasil S.A. | 68,072 | 984,826 |
Utilities 0.9% | ||
Centrais Eletricas Brasileiras S.A., Class B * | 95,220 | 815,873 |
Companhia Energetica de Minas Gerais | 573,908 | 1,753,008 |
Companhia Paranaense de Energia-Copel | 42,244 | 483,715 |
3,052,596 | ||
40,714,167 | ||
Colombia 0.1% | ||
Banks 0.1% | ||
Bancolombia S.A. | 42,863 | 406,851 |
Republic of Korea 1.0% | ||
Automobiles & Components 0.3% | ||
Hyundai Motor Co., Ltd. | 3,766 | 314,489 |
Hyundai Motor Co., Ltd. 2nd | 6,321 | 554,859 |
869,348 | ||
Materials 0.0% | ||
LG Chem Ltd. | 988 | 155,109 |
Technology Hardware & Equipment 0.7% | ||
Samsung Electronics Co., Ltd. | 2,060 | 2,368,525 |
3,392,982 | ||
Security | Number of Shares | Value ($) |
Russia 1.1% | ||
Energy 1.1% | ||
AK Transneft OAO * | 1,216 | 2,915,274 |
Surgutneftegas | 1,514,100 | 686,108 |
3,601,382 | ||
Total Preferred Stock | ||
(Cost $38,095,111) | 48,115,382 | |
Security Rate, Maturity Date | Face Amount Local Currency | Value ($) |
Short-Term Investments 0.3% of net assets | ||
Time Deposits 0.3% | ||
BNP Paribas | ||
Hong Kong Dollar | ||
0.01%, 11/01/16 (b) | 182,500 | 23,532 |
Brown Brothers Harriman | ||
South African Rand | ||
6.30%, 11/01/16 (b) | 105,381 | 7,815 |
Euro | ||
(0.57%), 11/01/16 (b) | 16,179 | 17,760 |
Singapore Dollar | ||
0.01%, 11/01/16 (b) | 948 | 681 |
Sumitomo Mitsui Banking Corp. | ||
U.S .Dollar | ||
0.15%, 11/01/16 (b) | 932,196 | 932,196 |
Total Short-Term Investments | ||
(Cost $981,984) | 981,984 |
* | Non-income producing security. |
(a) | Illiquid security. At the period end, the value of these amounted to $0 or 0.0% of net assets. |
(b) | The rate shown is the current daily overnight rate. |
(c) | Fair-valued by management in accordance with procedures approved by the Board of Trustees. |
ADR — | American Depositary Receipt |
GDR — | Global Depositary Receipt |
Reg'd — | Registered |
Number of Contracts | Contract Value ($) | Unrealized Depreciation ($) | ||||
Futures Contracts | ||||||
MSCI EMG MKT, e-mini, Long, expires 12/16/16 | 15 | 677,625 | (12,533) |
Table of Contents
Report of Independent Registered Public Accounting Firm
To the Board of Trustees and Shareholders of:
Schwab S&P 500 Index Fund
Schwab Small-Cap Index Fund
Schwab Total Stock Market Index Fund
Schwab International Index Fund
Schwab Fundamental US Large Company Index Fund
Schwab Fundamental US Small Company Index Fund
Schwab Fundamental International Large Company Index Fund
Schwab Fundamental International Small Company Index Fund
Schwab Fundamental Emerging Markets Large Company Index Fund
In our opinion, the accompanying statements of assets and liabilities, including the condensed portfolio holdings, and the related statements of operations and of changes in net assets and the financial highlights (included in Item 1 of this Form N-CSR) and the portfolio holdings (included in Item 6 of this Form N-CSR) present fairly, in all material respects, the financial position of Schwab S&P 500 Index Fund, Schwab Small-Cap Index Fund, Schwab Total Stock Market Index Fund, Schwab International Index Fund, Schwab Fundamental US Large Company Index Fund, Schwab Fundamental US Small Company Index Fund, Schwab Fundamental International Large Company Index Fund, Schwab Fundamental International Small Company Index Fund and Schwab Fundamental Emerging Markets Large Company Index Fund (nine of the funds constituting Schwab Capital Trust, hereafter referred to as the “Funds”) at October 31, 2016, the results of each of their operations for the year then ended, the changes in each of their net assets for each of the two years in the period then ended and the financial highlights for each of the of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America. These financial statements, financial highlights and portfolio holdings (hereafter referred to as “financial statements”) are the responsibility of the Funds’ management. Our responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits of these financial statements in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements, assessing the accounting principles used and significant estimates made by management, and evaluating the overall financial statement presentation. We believe that our audits, which included confirmation of securities at October 31, 2016 by correspondence with the custodian and brokers, provide a reasonable basis for our opinion.
December 16, 2016
Table of Contents
Item 7: Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 8: Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9: Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10: Submission of Matters to a Vote of Security Holders.
Not applicable.
Item 11: Controls and Procedures.
(a) | Based on their evaluation of Registrant’s disclosure controls and procedures, as of a date within 90 days of the filing date, Registrant’s Chief Executive Officer, Marie Chandoha and Registrant’s Chief Financial Officer, Mark Fischer, have concluded that Registrant’s disclosure controls and procedures are: (i) reasonably designed to ensure that information required to be disclosed in this report is appropriately communicated to Registrant’s officers to allow timely decisions regarding disclosures required in this report; (ii) reasonably designed to ensure that information required to be disclosed in this report is recorded, processed, summarized and reported in a timely manner; and (iii) are effective in achieving the goals described in (i) and (ii) above. |
(b) | During the second fiscal quarter of the period covered by this report, there have been no changes in Registrant’s internal control over financial reporting that the above officers believe to have materially affected, or to be reasonably likely to materially affect, Registrant’s internal control over financial reporting. |
Item 12: Exhibits.
(a) (1) | Registrant’s code of ethics (that is the subject of the disclosure required by Item 2(a)) is attached. | |
(2) | Separate certifications for Registrant’s principal executive officer and principal financial officer, as required by Rule 30a-2(a) under the 1940 Act, are attached. | |
(3) | Not applicable. |
Table of Contents
(b) | A certification for Registrant’s principal executive officer and principal financial officer, as required by Rule 30a-2(b) under the 1940 Act, is attached. This certification is being furnished to the Securities and Exchange Commission solely pursuant to 18 U.S.C. section 1350 and is not being filed as part of the Form N-CSR with the Commission. |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) Schwab Capital Trust
By: | /s/ Marie Chandoha | |
Marie Chandoha Chief Executive Officer | ||
Date: | 12/14/16 |
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/ Marie Chandoha | |
Marie Chandoha Chief Executive Officer | ||
Date: | 12/14/16 | |
By: | /s/ Mark Fischer | |
Mark Fischer Chief Financial Officer | ||
Date: | 12/14/16 |