| Common Stocks - 97.7% |
| | | Shares | Value ($) |
| AUSTRALIA - 6.2% | | | |
| Communication Services - 0.2% | | | |
| Diversified Telecommunication Services - 0.2% | | | |
| Telstra Group Ltd | | 1,080,085 | 2,897,261 |
| Consumer Discretionary - 0.8% | | | |
| Broadline Retail - 0.8% | | | |
| Wesfarmers Ltd | | 287,093 | 13,979,069 |
| Hotels, Restaurants & Leisure - 0.0% | | | |
| Aristocrat Leisure Ltd | | 17,105 | 692,977 |
TOTAL CONSUMER DISCRETIONARY | | | 14,672,046 |
| | | | |
| Financials - 1.8% | | | |
| Banks - 1.4% | | | |
| ANZ Group Holdings Ltd | | 563,028 | 11,864,322 |
| Commonwealth Bank of Australia | | 67,309 | 6,300,249 |
| National Australia Bank Ltd | | 190,790 | 4,926,565 |
| Westpac Banking Corp | | 72,089 | 1,580,884 |
| | | | 24,672,020 |
| Capital Markets - 0.1% | | | |
| Macquarie Group Ltd | | 10,362 | 1,664,645 |
| Insurance - 0.3% | | | |
| Medibank Pvt Ltd | | 394,589 | 995,716 |
| QBE Insurance Group Ltd | | 366,542 | 4,191,382 |
| | | | 5,187,098 |
TOTAL FINANCIALS | | | 31,523,763 |
| | | | |
| Health Care - 0.1% | | | |
| Health Care Technology - 0.1% | | | |
| Pro Medicus Ltd | | 20,524 | 2,529,237 |
| Industrials - 0.1% | | | |
| Commercial Services & Supplies - 0.1% | | | |
| Brambles Ltd | | 104,109 | 1,369,699 |
| Trading Companies & Distributors - 0.0% | | | |
| Reece Ltd | | 35,464 | 698,764 |
TOTAL INDUSTRIALS | | | 2,068,463 |
| | | | |
| Materials - 2.4% | | | |
| Metals & Mining - 2.4% | | | |
| BHP Group Ltd | | 252,986 | 8,038,490 |
| Fortescue Ltd | | 938,735 | 13,421,206 |
| Northern Star Resources Ltd | | 348,760 | 3,850,610 |
| Rio Tinto Ltd | | 62,335 | 5,564,896 |
| Rio Tinto PLC | | 41,461 | 2,937,303 |
| Rio Tinto PLC ADR (b) | | 103,356 | 7,355,847 |
| | | | 41,168,352 |
| Real Estate - 0.8% | | | |
| Diversified REITs - 0.1% | | | |
| GPT Group/The unit | | 270,091 | 929,902 |
| Industrial REITs - 0.7% | | | |
| Goodman Group unit | | 485,881 | 12,425,453 |
TOTAL REAL ESTATE | | | 13,355,355 |
| | | | |
| Utilities - 0.0% | | | |
| Electric Utilities - 0.0% | | | |
| Origin Energy Ltd | | 128 | 886 |
| TOTAL AUSTRALIA | | | 108,215,363 |
| AUSTRIA - 0.1% | | | |
| Financials - 0.1% | | | |
| Banks - 0.1% | | | |
| Erste Group Bank AG | | 31,498 | 1,726,803 |
| BELGIUM - 0.5% | | | |
| Financials - 0.4% | | | |
| Financial Services - 0.0% | | | |
| Groupe Bruxelles Lambert NV | | 5,053 | 393,451 |
| Insurance - 0.4% | | | |
| Ageas SA/NV | | 129,610 | 6,913,676 |
TOTAL FINANCIALS | | | 7,307,127 |
| | | | |
| Real Estate - 0.1% | | | |
| Industrial REITs - 0.1% | | | |
| Warehouses De Pauw CVA (c) | | 69,318 | 1,847,242 |
| TOTAL BELGIUM | | | 9,154,369 |
| CHINA - 1.5% | | | |
| Consumer Discretionary - 0.9% | | | |
| Broadline Retail - 0.9% | | | |
| Prosus NV Class N | | 366,229 | 16,005,038 |
| Consumer Staples - 0.1% | | | |
| Food Products - 0.1% | | | |
| Wilmar International Ltd | | 383,300 | 999,070 |
| Financials - 0.5% | | | |
| Banks - 0.5% | | | |
| BOC Hong Kong Holdings Ltd | | 2,553,500 | 8,178,978 |
| Industrials - 0.0% | | | |
| Marine Transportation - 0.0% | | | |
| SITC International Holdings Co Ltd | | 323,000 | 872,541 |
| TOTAL CHINA | | | 26,055,627 |
| DENMARK - 3.2% | | | |
| Consumer Discretionary - 0.1% | | | |
| Textiles, Apparel & Luxury Goods - 0.1% | | | |
| Pandora A/S | | 6,544 | 1,077,385 |
| Consumer Staples - 0.0% | | | |
| Beverages - 0.0% | | | |
| Carlsberg AS Series B | | 3,704 | 441,169 |
| Financials - 0.3% | | | |
| Banks - 0.3% | | | |
| Danske Bank A/S | | 156,435 | 4,707,148 |
| Health Care - 2.7% | | | |
| Biotechnology - 0.5% | | | |
| Genmab A/S (c) | | 25,903 | 6,266,340 |
| Genmab A/S ADR (c) | | 130,747 | 3,187,612 |
| | | | 9,453,952 |
| Pharmaceuticals - 2.2% | | | |
| Novo Nordisk A/S Class B ADR | | 3,153 | 375,428 |
| Novo Nordisk A/S Series B | | 324,226 | 38,094,394 |
| | | | 38,469,822 |
TOTAL HEALTH CARE | | | 47,923,774 |
| | | | |
| Industrials - 0.1% | | | |
| Building Products - 0.0% | | | |
| ROCKWOOL A/S Series B | | 1,008 | 473,251 |
| Marine Transportation - 0.1% | | | |
| AP Moller - Maersk A/S Series A | | 1,300 | 2,106,309 |
TOTAL INDUSTRIALS | | | 2,579,560 |
| | | | |
| TOTAL DENMARK | | | 56,729,036 |
| FINLAND - 1.4% | | | |
| Consumer Staples - 0.0% | | | |
| Consumer Staples Distribution & Retail - 0.0% | | | |
| Kesko Oyj B Shares | | 87 | 1,856 |
| Financials - 0.0% | | | |
| Banks - 0.0% | | | |
| Nordea Bank Abp (Sweden) | | 59,606 | 701,948 |
| Industrials - 1.1% | | | |
| Machinery - 1.1% | | | |
| Kone Oyj B Shares | | 177,243 | 10,594,906 |
| Wartsila OYJ Abp | | 348,117 | 7,788,879 |
| | | | 18,383,785 |
| Information Technology - 0.3% | | | |
| Communications Equipment - 0.3% | | | |
| Nokia Oyj | | 597,919 | 2,611,710 |
| Nokia Oyj ADR | | 779,726 | 3,407,403 |
| | | | 6,019,113 |
| TOTAL FINLAND | | | 25,106,702 |
| FRANCE - 8.5% | | | |
| Communication Services - 0.2% | | | |
| Diversified Telecommunication Services - 0.2% | | | |
| Orange SA | | 372,016 | 4,259,117 |
| Consumer Discretionary - 0.8% | | | |
| Hotels, Restaurants & Leisure - 0.2% | | | |
| La Francaise des Jeux SAEM (d)(e) | | 75,511 | 3,104,994 |
| Textiles, Apparel & Luxury Goods - 0.6% | | | |
| LVMH Moet Hennessy Louis Vuitton SE | | 14,268 | 10,935,049 |
TOTAL CONSUMER DISCRETIONARY | | | 14,040,043 |
| | | | |
| Consumer Staples - 0.8% | | | |
| Consumer Staples Distribution & Retail - 0.1% | | | |
| Carrefour SA | | 120,759 | 2,058,014 |
| Food Products - 0.1% | | | |
| Danone SA | | 32,433 | 2,358,957 |
| Personal Care Products - 0.6% | | | |
| L'Oreal SA | | 22,693 | 10,156,070 |
TOTAL CONSUMER STAPLES | | | 14,573,041 |
| | | | |
| Energy - 0.9% | | | |
| Oil, Gas & Consumable Fuels - 0.9% | | | |
| TotalEnergies SE | | 230,145 | 14,986,876 |
| TotalEnergies SE ADR | | 7,183 | 464,165 |
| | | | 15,451,041 |
| Financials - 1.0% | | | |
| Banks - 0.9% | | | |
| BNP Paribas SA | | 221,521 | 15,177,375 |
| Credit Agricole SA | | 39,679 | 606,215 |
| | | | 15,783,590 |
| Insurance - 0.1% | | | |
| AXA SA | | 25,390 | 975,917 |
TOTAL FINANCIALS | | | 16,759,507 |
| | | | |
| Industrials - 2.5% | | | |
| Aerospace & Defense - 0.9% | | | |
| Airbus SE | | 8 | 1,169 |
| Safran SA | | 65,323 | 15,349,989 |
| Safran SA ADR | | 6,735 | 396,570 |
| | | | 15,747,728 |
| Building Products - 0.3% | | | |
| Cie de Saint-Gobain SA | | 64,335 | 5,852,337 |
| Construction & Engineering - 0.5% | | | |
| Eiffage SA | | 93,094 | 8,978,294 |
| Electrical Equipment - 0.7% | | | |
| Legrand SA | | 102,856 | 11,827,247 |
| Transportation Infrastructure - 0.1% | | | |
| Getlink SE Series A | | 51,851 | 924,641 |
TOTAL INDUSTRIALS | | | 43,330,247 |
| | | | |
| Information Technology - 0.1% | | | |
| IT Services - 0.1% | | | |
| Capgemini SE | | 11,827 | 2,553,395 |
| Materials - 1.0% | | | |
| Chemicals - 1.0% | | | |
| Air Liquide SA | | 68,579 | 13,226,446 |
| Arkema SA | | 42,401 | 4,035,487 |
| | | | 17,261,933 |
| Real Estate - 0.3% | | | |
| Diversified REITs - 0.1% | | | |
| Covivio SA/France | | 37,621 | 2,284,435 |
| Office REITs - 0.2% | | | |
| Gecina SA | | 21,625 | 2,489,031 |
TOTAL REAL ESTATE | | | 4,773,466 |
| | | | |
| Utilities - 0.9% | | | |
| Multi-Utilities - 0.9% | | | |
| Engie SA | | 669,292 | 11,559,022 |
| Veolia Environnement SA | | 116,753 | 3,836,526 |
| | | | 15,395,548 |
| TOTAL FRANCE | | | 148,397,338 |
| GERMANY - 7.9% | | | |
| Communication Services - 0.0% | | | |
| Diversified Telecommunication Services - 0.0% | | | |
| Deutsche Telekom AG | | 61,325 | 1,801,485 |
| Interactive Media & Services - 0.0% | | | |
| Scout24 SE (d)(e) | | 2 | 171 |
TOTAL COMMUNICATION SERVICES | | | 1,801,656 |
| | | | |
| Consumer Discretionary - 0.7% | | | |
| Automobiles - 0.4% | | | |
| Mercedes-Benz Group AG | | 90,208 | 5,828,089 |
| Mercedes-Benz Group AG ADR | | 53,483 | 861,611 |
| Volkswagen AG | | 2,816 | 314,403 |
| | | | 7,004,103 |
| Textiles, Apparel & Luxury Goods - 0.3% | | | |
| adidas AG | | 17,913 | 4,743,692 |
TOTAL CONSUMER DISCRETIONARY | | | 11,747,795 |
| | | | |
| Financials - 2.7% | | | |
| Capital Markets - 1.1% | | | |
| Deutsche Bank AG | | 680,298 | 11,736,228 |
| Deutsche Boerse AG | | 31,777 | 7,453,000 |
| | | | 19,189,228 |
| Insurance - 1.6% | | | |
| Allianz SE | | 25,322 | 8,315,219 |
| Hannover Rueck SE | | 3 | 855 |
| Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen | | 29,844 | 16,421,066 |
| Talanx AG | | 35,562 | 2,992,690 |
| | | | 27,729,830 |
TOTAL FINANCIALS | | | 46,919,058 |
| | | | |
| Health Care - 0.3% | | | |
| Health Care Providers & Services - 0.2% | | | |
| Fresenius SE & Co KGaA (c) | | 80,945 | 3,084,257 |
| Pharmaceuticals - 0.1% | | | |
| Bayer AG | | 45,307 | 1,529,396 |
TOTAL HEALTH CARE | | | 4,613,653 |
| | | | |
| Industrials - 1.6% | | | |
| Industrial Conglomerates - 1.3% | | | |
| Siemens AG | | 101,486 | 20,485,824 |
| Siemens AG ADR | | 12,473 | 1,260,397 |
| | | | 21,746,221 |
| Machinery - 0.3% | | | |
| Gea Group Ag | | 39,310 | 1,923,598 |
| Knorr-Bremse AG | | 32,508 | 2,889,475 |
| Rational AG | | 1,141 | 1,162,145 |
| | | | 5,975,218 |
TOTAL INDUSTRIALS | | | 27,721,439 |
| | | | |
| Information Technology - 2.2% | | | |
| Semiconductors & Semiconductor Equipment - 0.4% | | | |
| Infineon Technologies AG | | 197,071 | 6,901,367 |
| Software - 1.8% | | | |
| SAP SE | | 139,189 | 31,669,376 |
TOTAL INFORMATION TECHNOLOGY | | | 38,570,743 |
| | | | |
| Materials - 0.4% | | | |
| Chemicals - 0.2% | | | |
| Evonik Industries AG | | 124,581 | 2,912,224 |
| Construction Materials - 0.2% | | | |
| Heidelberg Materials AG | | 33,219 | 3,609,027 |
TOTAL MATERIALS | | | 6,521,251 |
| | | | |
| TOTAL GERMANY | | | 137,895,595 |
| HONG KONG - 3.0% | | | |
| Communication Services - 0.0% | | | |
| Diversified Telecommunication Services - 0.0% | | | |
| HKT Trust & HKT Ltd unit | | 258,000 | 330,222 |
| Consumer Staples - 0.3% | | | |
| Food Products - 0.3% | | | |
| WH Group Ltd (d)(e) | | 7,160,455 | 5,673,946 |
| Financials - 1.6% | | | |
| Capital Markets - 0.3% | | | |
| Hong Kong Exchanges & Clearing Ltd | | 142,100 | 5,962,685 |
| Insurance - 1.3% | | | |
| AIA Group Ltd | | 1,875,632 | 16,804,772 |
| AIA Group Ltd ADR (b) | | 116,891 | 4,113,394 |
| | | | 20,918,166 |
TOTAL FINANCIALS | | | 26,880,851 |
| | | | |
| Industrials - 0.2% | | | |
| Industrial Conglomerates - 0.2% | | | |
| Jardine Matheson Holdings Ltd (Singapore) | | 81,600 | 3,187,296 |
| Real Estate - 0.3% | | | |
| Real Estate Management & Development - 0.3% | | | |
| Sun Hung Kai Properties Ltd | | 550,000 | 6,052,664 |
| Utilities - 0.6% | | | |
| Electric Utilities - 0.6% | | | |
| CLP Holdings Ltd | | 1,113,500 | 9,861,841 |
| TOTAL HONG KONG | | | 51,986,820 |
| ISRAEL - 0.6% | | | |
| Financials - 0.0% | | | |
| Banks - 0.0% | | | |
| Bank Leumi Le-Israel BM | | 96,518 | 943,457 |
| Information Technology - 0.6% | | | |
| IT Services - 0.6% | | | |
| Wix.com Ltd (c) | | 59,203 | 9,896,966 |
| TOTAL ISRAEL | | | 10,840,423 |
| ITALY - 2.8% | | | |
| Consumer Staples - 0.5% | | | |
| Beverages - 0.5% | | | |
| Coca-Cola HBC AG | | 265,437 | 9,453,897 |
| Financials - 1.5% | | | |
| Banks - 1.5% | | | |
| Intesa Sanpaolo SpA | | 3,560,176 | 15,208,051 |
| UniCredit SpA | | 201,877 | 8,846,079 |
| UniCredit SpA ADR | | 22,601 | 495,639 |
| | | | 24,549,769 |
| Industrials - 0.0% | | | |
| Electrical Equipment - 0.0% | | | |
| Prysmian SpA | | 10,482 | 760,756 |
| Utilities - 0.8% | | | |
| Electric Utilities - 0.8% | | | |
| Enel SpA | | 1,854,573 | 14,812,199 |
| TOTAL ITALY | | | 49,576,621 |
| JAPAN - 22.0% | | | |
| Communication Services - 1.1% | | | |
| Diversified Telecommunication Services - 0.0% | | | |
| Nippon Telegraph & Telephone Corp | | 3,400 | 3,473 |
| Entertainment - 0.1% | | | |
| Konami Group Corp | | 26,200 | 2,651,445 |
| Interactive Media & Services - 0.6% | | | |
| LY Corp | | 3,497,722 | 10,204,174 |
| Wireless Telecommunication Services - 0.4% | | | |
| SoftBank Corp | | 5,326,640 | 6,937,881 |
TOTAL COMMUNICATION SERVICES | | | 19,796,973 |
| | | | |
| Consumer Discretionary - 4.3% | | | |
| Automobiles - 1.5% | | | |
| Honda Motor Co Ltd | | 446,706 | 4,685,401 |
| Honda Motor Co Ltd ADR | | 6,414 | 203,516 |
| Mazda Motor Corp (b) | | 638,600 | 4,754,232 |
| Nissan Motor Co Ltd ADR (b) | | 93,248 | 527,784 |
| Subaru Corp | | 346,058 | 5,976,107 |
| Suzuki Motor Corp | | 44,100 | 488,636 |
| Toyota Motor Corp | | 528,161 | 9,343,186 |
| | | | 25,978,862 |
| Broadline Retail - 0.1% | | | |
| Pan Pacific International Holdings Corp | | 2,400 | 61,701 |
| Rakuten Group Inc (c) | | 317,800 | 2,046,656 |
| | | | 2,108,357 |
| Household Durables - 1.8% | | | |
| Panasonic Holdings Corp (b) | | 1,031,700 | 8,922,616 |
| Sony Group Corp | | 1,060,180 | 20,488,085 |
| | | | 29,410,701 |
| Specialty Retail - 0.3% | | | |
| Fast Retailing Co Ltd | | 17,842 | 5,886,712 |
| Textiles, Apparel & Luxury Goods - 0.6% | | | |
| Asics Corp | | 474,500 | 9,907,633 |
TOTAL CONSUMER DISCRETIONARY | | | 73,292,265 |
| | | | |
| Consumer Staples - 0.6% | | | |
| Beverages - 0.1% | | | |
| Asahi Group Holdings Ltd | | 158,100 | 2,066,383 |
| Consumer Staples Distribution & Retail - 0.1% | | | |
| Seven & i Holdings Co Ltd | | 97,600 | 1,457,973 |
| Tobacco - 0.4% | | | |
| Japan Tobacco Inc | | 268,400 | 7,804,095 |
TOTAL CONSUMER STAPLES | | | 11,328,451 |
| | | | |
| Energy - 0.0% | | | |
| Oil, Gas & Consumable Fuels - 0.0% | | | |
| Inpex Corp | | 37,200 | 501,608 |
| Financials - 2.4% | | | |
| Banks - 0.5% | | | |
| Japan Post Bank Co Ltd | | 112,200 | 1,044,520 |
| Mitsubishi UFJ Financial Group Inc | | 767,400 | 7,760,765 |
| Mitsubishi UFJ Financial Group Inc ADR | | 242 | 2,463 |
| Sumitomo Mitsui Financial Group Inc | | 22,500 | 476,691 |
| | | | 9,284,439 |
| Capital Markets - 1.1% | | | |
| Daiwa Securities Group Inc (b) | | 1,277,148 | 8,930,483 |
| Nomura Holdings Inc | | 1,768,900 | 9,144,497 |
| | | | 18,074,980 |
| Insurance - 0.8% | | | |
| Ms&Ad Insurance Group Holdings Inc | | 294,500 | 6,823,343 |
| Sompo Holdings Inc | | 155,200 | 3,456,568 |
| Tokio Marine Holdings Inc | | 112,200 | 4,083,619 |
| | | | 14,363,530 |
TOTAL FINANCIALS | | | 41,722,949 |
| | | | |
| Health Care - 1.8% | | | |
| Health Care Equipment & Supplies - 1.4% | | | |
| Hoya Corp | | 78,284 | 10,776,476 |
| Olympus Corp | | 261,100 | 4,938,600 |
| Terumo Corp | | 457,700 | 8,598,295 |
| | | | 24,313,371 |
| Pharmaceuticals - 0.4% | | | |
| Daiichi Sankyo Co Ltd | | 240,100 | 7,866,627 |
TOTAL HEALTH CARE | | | 32,179,998 |
| | | | |
| Industrials - 5.1% | | | |
| Electrical Equipment - 0.8% | | | |
| Mitsubishi Electric Corp | | 267,300 | 4,284,053 |
| NIDEC CORP | | 504,600 | 10,553,680 |
| | | | 14,837,733 |
| Ground Transportation - 0.6% | | | |
| Central Japan Railway Co | | 445,100 | 10,272,372 |
| Industrial Conglomerates - 1.3% | | | |
| Hitachi Ltd | | 829,200 | 21,813,918 |
| Machinery - 1.2% | | | |
| FANUC Corp | | 199,900 | 5,827,664 |
| Komatsu Ltd | | 74,900 | 2,066,818 |
| Kubota Corp | | 134,000 | 1,893,575 |
| Makita Corp | | 293,800 | 9,895,883 |
| | | | 19,683,940 |
| Marine Transportation - 0.1% | | | |
| Kawasaki Kisen Kaisha Ltd (b) | | 146,000 | 2,249,045 |
| Professional Services - 0.3% | | | |
| Recruit Holdings Co Ltd | | 81,700 | 4,948,328 |
| Trading Companies & Distributors - 0.8% | | | |
| Marubeni Corp | | 27,200 | 442,846 |
| Mitsui & Co Ltd | | 193,500 | 4,278,608 |
| Sumitomo Corp | | 39,900 | 886,698 |
| Toyota Tsusho Corp | | 429,600 | 7,726,672 |
| | | | 13,334,824 |
TOTAL INDUSTRIALS | | | 87,140,160 |
| | | | |
| Information Technology - 4.7% | | | |
| Electronic Equipment, Instruments & Components - 1.4% | | | |
| Keyence Corp | | 8,000 | 3,805,044 |
| Kyocera Corp | | 63,000 | 727,639 |
| Murata Manufacturing Co Ltd | | 586,500 | 11,452,512 |
| Yokogawa Electric Corp (b) | | 356,500 | 9,065,977 |
| | | | 25,051,172 |
| IT Services - 0.7% | | | |
| Fujitsu Ltd | | 562,800 | 11,494,865 |
| Semiconductors & Semiconductor Equipment - 2.5% | | | |
| Advantest Corp | | 247,000 | 11,584,811 |
| Disco Corp | | 10,750 | 2,804,088 |
| Lasertec Corp | | 37,100 | 6,093,202 |
| Renesas Electronics Corp | | 359,100 | 5,194,426 |
| SCREEN Holdings Co Ltd | | 1,000 | 69,389 |
| Tokyo Electron Ltd | | 82,700 | 14,551,978 |
| Tokyo Electron Ltd ADR | | 29,837 | 2,650,421 |
| | | | 42,948,315 |
| Technology Hardware, Storage & Peripherals - 0.1% | | | |
| Canon Inc | | 42,300 | 1,384,150 |
TOTAL INFORMATION TECHNOLOGY | | | 80,878,502 |
| | | | |
| Materials - 1.0% | | | |
| Chemicals - 0.8% | | | |
| Mitsubishi Chemical Group Corp | | 119,200 | 762,100 |
| Nippon Paint Holdings Co Ltd | | 392,200 | 2,994,883 |
| Nitto Denko Corp | | 610,000 | 10,137,311 |
| Shin-Etsu Chemical Co Ltd ADR (b) | | 16,951 | 352,920 |
| | | | 14,247,214 |
| Metals & Mining - 0.2% | | | |
| JFE Holdings Inc (b) | | 102,600 | 1,369,546 |
| Nippon Steel Corp (b) | | 118,700 | 2,641,173 |
| | | | 4,010,719 |
TOTAL MATERIALS | | | 18,257,933 |
| | | | |
| Real Estate - 0.0% | | | |
| Real Estate Management & Development - 0.0% | | | |
| Daito Trust Construction Co Ltd | | 3,600 | 436,083 |
| Utilities - 1.0% | | | |
| Electric Utilities - 0.8% | | | |
| Chubu Electric Power Co Inc | | 446,700 | 5,224,580 |
| Kansai Electric Power Co Inc/The | | 562,700 | 9,278,824 |
| | | | 14,503,404 |
| Gas Utilities - 0.2% | | | |
| Osaka Gas Co Ltd | | 137,000 | 3,073,146 |
TOTAL UTILITIES | | | 17,576,550 |
| | | | |
| TOTAL JAPAN | | | 383,111,472 |
| LUXEMBOURG - 0.1% | | | |
| Health Care - 0.1% | | | |
| Life Sciences Tools & Services - 0.1% | | | |
| Eurofins Scientific SE | | 39,582 | 2,507,054 |
| NETHERLANDS - 4.4% | | | |
| Consumer Staples - 0.3% | | | |
| Consumer Staples Distribution & Retail - 0.3% | | | |
| Koninklijke Ahold Delhaize NV | | 173,044 | 5,977,121 |
| Financials - 0.8% | | | |
| Banks - 0.4% | | | |
| ABN AMRO Bank NV depository receipt (d)(e) | | 417,511 | 7,531,312 |
| Financial Services - 0.2% | | | |
| EXOR NV | | 35,412 | 3,790,124 |
| Insurance - 0.2% | | | |
| NN Group NV | | 68,818 | 3,430,361 |
TOTAL FINANCIALS | | | 14,751,797 |
| | | | |
| Health Care - 0.9% | | | |
| Biotechnology - 0.2% | | | |
| Argenx SE (c) | | 5,563 | 3,007,055 |
| Health Care Equipment & Supplies - 0.7% | | | |
| Koninklijke Philips NV | | 388,685 | 12,728,996 |
TOTAL HEALTH CARE | | | 15,736,051 |
| | | | |
| Industrials - 0.6% | | | |
| Professional Services - 0.6% | | | |
| Wolters Kluwer NV (c) | | 59,195 | 9,969,598 |
| Information Technology - 1.8% | | | |
| Semiconductors & Semiconductor Equipment - 1.8% | | | |
| ASM International NV | | 8,707 | 5,712,581 |
| ASML Holding NV | | 28,320 | 23,504,599 |
| BE Semiconductor Industries NV | | 6,831 | 863,426 |
| | | | 30,080,606 |
| TOTAL NETHERLANDS | | | 76,515,173 |
| NEW ZEALAND - 0.1% | | | |
| Utilities - 0.1% | | | |
| Independent Power and Renewable Electricity Producers - 0.1% | | | |
| Meridian Energy Ltd | | 623,451 | 2,352,706 |
| NORWAY - 0.2% | | | |
| Financials - 0.2% | | | |
| Insurance - 0.2% | | | |
| Gjensidige Forsikring ASA | | 173,496 | 3,245,359 |
| Industrials - 0.0% | | | |
| Aerospace & Defense - 0.0% | | | |
| Kongsberg Gruppen ASA | | 15 | 1,467 |
| TOTAL NORWAY | | | 3,246,826 |
| PORTUGAL - 0.0% | | | |
| Utilities - 0.0% | | | |
| Electric Utilities - 0.0% | | | |
| EDP SA | | 4,353 | 19,876 |
| SINGAPORE - 1.7% | | | |
| Financials - 0.9% | | | |
| Banks - 0.8% | | | |
| DBS Group Holdings Ltd | | 18,500 | 547,695 |
| Oversea-Chinese Banking Corp Ltd | | 704,200 | 8,273,426 |
| United Overseas Bank Ltd | | 191,055 | 4,782,135 |
| | | | 13,603,256 |
| Capital Markets - 0.1% | | | |
| Singapore Exchange Ltd | | 110,700 | 983,617 |
TOTAL FINANCIALS | | | 14,586,873 |
| | | | |
| Industrials - 0.5% | | | |
| Aerospace & Defense - 0.5% | | | |
| ST Engineering Financial I Ltd | | 2,435,700 | 8,831,248 |
| Real Estate - 0.3% | | | |
| Industrial REITs - 0.3% | | | |
| CapitaLand Ascendas REIT | | 2,723,100 | 6,059,573 |
| TOTAL SINGAPORE | | | 29,477,694 |
| SOUTH AFRICA - 0.0% | | | |
| Materials - 0.0% | | | |
| Metals & Mining - 0.0% | | | |
| Anglo American PLC | | 21,294 | 691,512 |
| SPAIN - 4.2% | | | |
| Consumer Discretionary - 0.9% | | | |
| Specialty Retail - 0.9% | | | |
| Industria de Diseno Textil SA | | 261,808 | 15,486,674 |
| Financials - 1.3% | | | |
| Banks - 1.3% | | | |
| Banco Bilbao Vizcaya Argentaria SA | | 985,039 | 10,644,785 |
| Banco Bilbao Vizcaya Argentaria SA ADR | | 228,639 | 2,478,447 |
| Banco Santander SA | | 1,806,991 | 9,253,685 |
| CaixaBank SA | | 127,394 | 760,661 |
| | | | 23,137,578 |
| Industrials - 0.6% | | | |
| Transportation Infrastructure - 0.6% | | | |
| Aena SME SA (d)(e) | | 50,232 | 11,048,952 |
| Utilities - 1.4% | | | |
| Electric Utilities - 1.4% | | | |
| Endesa SA | | 237,879 | 5,197,926 |
| Iberdrola SA | | 1,188,063 | 18,369,419 |
| | | | 23,567,345 |
| TOTAL SPAIN | | | 73,240,549 |
| SWEDEN - 2.4% | | | |
| Consumer Discretionary - 0.5% | | | |
| Automobiles - 0.3% | | | |
| Volvo Car AB (b)(c) | | 2,168,629 | 5,961,896 |
| Hotels, Restaurants & Leisure - 0.1% | | | |
| Evolution AB (d)(e) | | 5,423 | 532,910 |
| Evolution AB ADR | | 16,756 | 1,645,272 |
| | | | 2,178,182 |
| Specialty Retail - 0.1% | | | |
| H & M Hennes & Mauritz AB B Shares | | 51,999 | 884,753 |
TOTAL CONSUMER DISCRETIONARY | | | 9,024,831 |
| | | | |
| Consumer Staples - 0.3% | | | |
| Household Products - 0.3% | | | |
| Essity AB B Shares | | 162,335 | 5,065,451 |
| Financials - 0.3% | | | |
| Banks - 0.1% | | | |
| Svenska Handelsbanken AB A Shares | | 183,157 | 1,880,110 |
| Financial Services - 0.2% | | | |
| Industrivarden AB A Shares | | 72,011 | 2,660,391 |
| Investor AB B Shares | | 22,311 | 686,629 |
| | | | 3,347,020 |
TOTAL FINANCIALS | | | 5,227,130 |
| | | | |
| Health Care - 0.1% | | | |
| Biotechnology - 0.1% | | | |
| Swedish Orphan Biovitrum AB B Shares (c) | | 63,930 | 2,058,431 |
| Health Care Equipment & Supplies - 0.0% | | | |
| Getinge AB B Shares | | 30 | 646 |
TOTAL HEALTH CARE | | | 2,059,077 |
| | | | |
| Industrials - 1.1% | | | |
| Machinery - 1.1% | | | |
| Alfa Laval AB | | 16,147 | 775,246 |
| SKF AB B Shares | | 263,530 | 5,241,615 |
| Volvo AB B Shares | | 503,252 | 13,290,093 |
| | | | 19,306,954 |
| Information Technology - 0.1% | | | |
| Electronic Equipment, Instruments & Components - 0.1% | | | |
| Hexagon AB B Shares | | 190,429 | 2,047,573 |
| TOTAL SWEDEN | | | 42,731,016 |
| SWITZERLAND - 5.6% | | | |
| Financials - 1.0% | | | |
| Capital Markets - 0.0% | | | |
| UBS Group AG | | 30,673 | 944,453 |
| Insurance - 1.0% | | | |
| Zurich Insurance Group AG | | 28,908 | 17,412,771 |
TOTAL FINANCIALS | | | 18,357,224 |
| | | | |
| Health Care - 1.8% | | | |
| Pharmaceuticals - 1.8% | | | |
| Novartis AG | | 251,399 | 28,857,344 |
| Novartis AG ADR | | 19,260 | 2,215,285 |
| | | | 31,072,629 |
| Industrials - 1.9% | | | |
| Electrical Equipment - 1.1% | | | |
| ABB Ltd | | 233,442 | 13,512,524 |
| ABB Ltd ADR | | 81,507 | 4,720,885 |
| | | | 18,233,409 |
| Machinery - 0.0% | | | |
| Schindler Holding AG | | 2,699 | 790,869 |
| Marine Transportation - 0.2% | | | |
| Kuehne + Nagel International AG | | 12,350 | 3,367,850 |
| Professional Services - 0.6% | | | |
| SGS SA (c) | | 90,508 | 10,088,645 |
TOTAL INDUSTRIALS | | | 32,480,773 |
| | | | |
| Information Technology - 0.0% | | | |
| Technology Hardware, Storage & Peripherals - 0.0% | | | |
| Logitech International SA | | 7,890 | 704,399 |
| Materials - 0.8% | | | |
| Chemicals - 0.8% | | | |
| Givaudan SA | | 2,665 | 14,610,504 |
| Utilities - 0.1% | | | |
| Electric Utilities - 0.1% | | | |
| BKW AG | | 4,913 | 890,476 |
| TOTAL SWITZERLAND | | | 98,116,005 |
| UNITED KINGDOM - 10.4% | | | |
| Communication Services - 0.6% | | | |
| Wireless Telecommunication Services - 0.6% | | | |
| Vodafone Group PLC | | 6,289,069 | 6,309,491 |
| Vodafone Group PLC ADR | | 472,228 | 4,731,725 |
| | | | 11,041,216 |
| Consumer Staples - 3.4% | | | |
| Beverages - 0.1% | | | |
| Coca-Cola Europacific Partners PLC | | 28,826 | 2,270,048 |
| Consumer Staples Distribution & Retail - 0.7% | | | |
| Tesco PLC | | 2,481,030 | 11,898,126 |
| Tesco PLC ADR (b) | | 32,550 | 472,300 |
| | | | 12,370,426 |
| Household Products - 0.4% | | | |
| Reckitt Benckiser Group PLC | | 111,912 | 6,848,142 |
| Personal Care Products - 1.3% | | | |
| Unilever PLC | | 135,931 | 8,794,057 |
| Unilever PLC ADR | | 202,861 | 13,177,851 |
| | | | 21,971,908 |
| Tobacco - 0.9% | | | |
| British American Tobacco PLC | | 97,700 | 3,558,089 |
| British American Tobacco PLC ADR | | 338,479 | 12,381,562 |
| | | | 15,939,651 |
TOTAL CONSUMER STAPLES | | | 59,400,175 |
| | | | |
| Financials - 2.7% | | | |
| Banks - 2.2% | | | |
| Barclays PLC ADR | | 146,031 | 1,774,277 |
| HSBC Holdings PLC | | 1,884,581 | 16,861,100 |
| HSBC Holdings PLC ADR (b) | | 149,756 | 6,767,474 |
| Lloyds Banking Group PLC | | 2,661,337 | 2,092,148 |
| NatWest Group PLC | | 876,964 | 4,032,080 |
| NatWest Group PLC ADR | | 176,207 | 1,649,297 |
| Standard Chartered PLC | | 440,517 | 4,670,367 |
| | | | 37,846,743 |
| Capital Markets - 0.2% | | | |
| 3i Group PLC | | 32,013 | 1,414,533 |
| London Stock Exchange Group PLC | | 19,648 | 2,684,630 |
| | | | 4,099,163 |
| Financial Services - 0.1% | | | |
| M&G PLC | | 525,810 | 1,457,984 |
| Wise PLC Class A (c) | | 112 | 1,005 |
| | | | 1,458,989 |
| Insurance - 0.2% | | | |
| Admiral Group PLC | | 15,159 | 564,228 |
| Aviva PLC | | 379,593 | 2,454,255 |
| | | | 3,018,483 |
TOTAL FINANCIALS | | | 46,423,378 |
| | | | |
| Health Care - 0.9% | | | |
| Pharmaceuticals - 0.9% | | | |
| Astrazeneca PLC | | 88,392 | 13,694,198 |
| Astrazeneca PLC ADR | | 19,646 | 1,530,620 |
| | | | 15,224,818 |
| Industrials - 2.5% | | | |
| Aerospace & Defense - 1.7% | | | |
| BAE Systems PLC | | 777,183 | 12,858,303 |
| BAE Systems PLC ADR (b) | | 6,763 | 448,725 |
| Rolls-Royce Holdings PLC (c) | | 2,207,191 | 15,557,166 |
| | | | 28,864,194 |
| Professional Services - 0.2% | | | |
| RELX PLC ADR | | 85,275 | 4,047,151 |
| Trading Companies & Distributors - 0.6% | | | |
| Bunzl PLC | | 214,664 | 10,142,405 |
TOTAL INDUSTRIALS | | | 43,053,750 |
| | | | |
| Information Technology - 0.3% | | | |
| Electronic Equipment, Instruments & Components - 0.0% | | | |
| Halma PLC | | 54 | 1,882 |
| Software - 0.3% | | | |
| Sage Group PLC/The | | 322,731 | 4,420,464 |
TOTAL INFORMATION TECHNOLOGY | | | 4,422,346 |
| | | | |
| Real Estate - 0.0% | | | |
| Diversified REITs - 0.0% | | | |
| Land Securities Group PLC | | 147,076 | 1,280,083 |
| Industrial REITs - 0.0% | | | |
| Segro PLC | | 1,596 | 18,649 |
TOTAL REAL ESTATE | | | 1,298,732 |
| | | | |
| Utilities - 0.0% | | | |
| Electric Utilities - 0.0% | | | |
| SSE PLC | | 74,621 | 1,878,566 |
| TOTAL UNITED KINGDOM | | | 182,742,981 |
| UNITED STATES - 10.9% | | | |
| Consumer Staples - 1.0% | | | |
| Food Products - 1.0% | | | |
| Nestle SA | | 179,162 | 17,984,999 |
| Energy - 1.7% | | | |
| Oil, Gas & Consumable Fuels - 1.7% | | | |
| BP PLC | | 221,973 | 1,162,436 |
| BP PLC ADR | | 11 | 345 |
| Shell PLC | | 745,218 | 24,160,741 |
| Shell PLC ADR | | 62,149 | 4,098,726 |
| | | | 29,422,248 |
| Financials - 0.4% | | | |
| Insurance - 0.4% | | | |
| Swiss Re AG | | 53,332 | 7,353,748 |
| Health Care - 5.2% | | | |
| Biotechnology - 0.7% | | | |
| CSL Ltd | | 62,884 | 12,445,981 |
| Life Sciences Tools & Services - 0.5% | | | |
| QIAGEN NV | | 212,940 | 9,592,772 |
| Pharmaceuticals - 4.0% | | | |
| GSK PLC | | 367,268 | 7,446,302 |
| GSK PLC ADR | | 232,532 | 9,505,909 |
| Roche Holding AG | | 83,070 | 26,559,629 |
| Roche Holding AG | | 6,260 | 2,140,538 |
| Roche Holding AG ADR | | 72,135 | 2,881,793 |
| Sanofi SA | | 124,232 | 14,229,923 |
| Sanofi SA ADR | | 95,282 | 5,491,101 |
| | | | 68,255,195 |
TOTAL HEALTH CARE | | | 90,293,948 |
| | | | |
| Industrials - 1.3% | | | |
| Electrical Equipment - 1.3% | | | |
| Schneider Electric SE | | 81,208 | 21,351,697 |
| Schneider Electric SE ADR | | 25,927 | 1,367,131 |
| | | | 22,718,828 |
| Information Technology - 0.3% | | | |
| Software - 0.3% | | | |
| Monday.com Ltd (c) | | 16,101 | 4,472,374 |
| Materials - 1.0% | | | |
| Construction Materials - 1.0% | | | |
| CRH PLC (United Kingdom) | | 46,655 | 4,252,755 |
| Holcim AG | | 137,395 | 13,402,648 |
| | | | 17,655,403 |
| TOTAL UNITED STATES | | | 189,901,548 |
| TOTAL COMMON STOCKS (Cost $1,383,912,480) | | | 1,710,339,109 |
| | | | |
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. Treasury Obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
Risk Exposures and the Use of Derivative Instruments: The Fund's investment objectives allow the Fund to enter into various types of derivative contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
The Fund used derivatives to increase returns, to gain exposure to certain types of assets and/or to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.
The Fund's use of derivatives increased or decreased its exposure to the following risk(s):
Equity Risk - Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
Futures Contracts: A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a specified price at a specified future date.
The Fund used futures contracts to manage its exposure to the stock market.
Open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end. Any securities and/or cash deposited to meet initial margin requirements are identified in the Schedule of Investments.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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