N-CSR 1 d494276dncsr.htm WISDOMTREE TRUST WisdomTree Trust

 

 

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 811-21864

 

 

WisdomTree Trust

(Exact name of registrant as specified in charter)

 

 

250 West 34th Street, 3rd Floor

New York, NY 10119

(Address of principal executive offices) (Zip code)

 

 

The Corporation Trust Company

1209 Orange Street

Wilmington, DE 19801

(Name and address of agent for service)

 

 

Registrant’s telephone number, including area code: (866) 909-9473

Date of fiscal year end: March 31

Date of reporting period: March 31, 2023

 

 

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

 

 

 


Item 1. Reports to Stockholders.

 

(a)

The Reports to Shareholders are attached herewith.

 

(b)

Not applicable.


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LOGO

 

WisdomTree Trust

Annual Report

March 31, 2023

 

WisdomTree U.S. AI Enhanced Value Fund (AIVL)

WisdomTree U.S. ESG Fund (RESP)

WisdomTree U.S. Growth & Momentum Fund (WGRO)

WisdomTree U.S. High Dividend Fund (DHS)

WisdomTree U.S. LargeCap Dividend Fund (DLN)

WisdomTree U.S. LargeCap Fund (EPS)

WisdomTree U.S. MidCap Dividend Fund (DON)

WisdomTree U.S. MidCap Fund (EZM)

WisdomTree U.S. Multifactor Fund (USMF)

WisdomTree U.S. Quality Dividend Growth Fund (DGRW)

WisdomTree U.S. Quality Growth Fund (QGRW)

WisdomTree U.S. SmallCap Dividend Fund (DES)

WisdomTree U.S. SmallCap Fund (EES)

WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS)

WisdomTree U.S. Total Dividend Fund (DTD)

WisdomTree U.S. Value Fund (WTV)


Table of Contents

 

Market Environment Overview (unaudited)

       1  

Information about Performance and Shareholder Expense Examples (unaudited)

       3  

Management’s Discussion of Funds’ Performance (unaudited)

       4  

Description of Terms and Indexes (unaudited)

       20  
Schedules of Investments     

WisdomTree U.S. AI Enhanced Value Fund

       24  

WisdomTree U.S. ESG Fund

       27  

WisdomTree U.S. Growth & Momentum Fund

       32  

WisdomTree U.S. High Dividend Fund

       34  

WisdomTree U.S. LargeCap Dividend Fund

       40  

WisdomTree U.S. LargeCap Fund

       45  

WisdomTree U.S. MidCap Dividend Fund

       53  

WisdomTree U.S. MidCap Fund

       59  

WisdomTree U.S. Multifactor Fund

       67  

WisdomTree U.S. Quality Dividend Growth Fund

       71  

WisdomTree U.S. Quality Growth Fund

       76  

WisdomTree U.S. SmallCap Dividend Fund

       78  

WisdomTree U.S. SmallCap Fund

       86  

WisdomTree U.S. SmallCap Quality Dividend Growth Fund

       97  

WisdomTree U.S. Total Dividend Fund

       102  

WisdomTree U.S. Value Fund

       112  

Statements of Assets and Liabilities

       115  

Statements of Operations

       119  

Statements of Changes in Net Assets

       123  

Financial Highlights

       129  

Notes to Financial Statements

       137  

Report of Independent Registered Public Accounting Firm

       149  

Approval of Investment Advisory and Sub-Advisory Agreements (unaudited)

       151  

Liquidity Risk Management Program (unaudited)

       153  

Supplemental Information (unaudited)

       154  

Trustees and Officers Information (unaudited)

       155  

General Information (unaudited)

       157  

“WisdomTree” is a registered mark of WisdomTree, Inc. (formerly, WisdomTree Investments, Inc.) and is licensed for use by the WisdomTree Trust.


Market Environment Overview

(unaudited)

 

U.S. equity markets, as measured by the S&P 500 Index, returned -7.73% in U.S. dollar terms for the 12-month fiscal year ending March 31, 2023 (the “period”).

U.S. equities were down significantly for much of the year, and lost as much as 20% at certain points, as markets contended with the ramifications of record fiscal and monetary stimulus introduced to support the post-pandemic recovery and its implications for the path of monetary policy. Most of the period was characterized by record inflation, which had not been observed in several decades, and a robust labor market. Inflation grew 6% year-over-year at the end of 2022, and reached a high of 9.1% year-over-year during June 2022. Meanwhile, the U-3 Unemployment Rate seldom budged from the 3.4-3.7% range, similar to pre-pandemic levels and the lowest since the early 1970s.

With each monthly release of inflation and nonfarm payroll data, markets analyzed the reports for their impact on the future direction of monetary policy. The Federal Reserve (the “Fed”) was forced to act quickly and decisively to combat rising inflation, raising the Federal Funds Rate a cumulative 4.50% during the period, which included a sequence of four consecutive hikes of 75 basis points during the summer and fall months.

Higher interest rate, and the threat of recession from the Fed’s aggressive rate hike policy campaign, weighed negatively on equities and overall investor sentiment for the period.

During the first quarter of the period, U.S. markets plummeted under the initial onslaught of the Fed’s effort to combat inflation via rate hikes. The Fed hiked rates 1.25% between two meetings, sending the S&P 500 Index near bear market territory, falling 16.10%. Small cap equities (proxied by the Russell 2000 Index), favored by risk-on investors, suffered even more, losing 17.2%. Real gross domestic product (GDP) slightly fell -0.6% quarter-over-quarter during the quarter, putting the U.S. economy in a technical recession after two straight quarters of declines.

The second quarter of the period was more tempered than the previous, though U.S. markets remained negative. For much of June to September 2022, U.S. equities recovered from their recent lows and rebounded almost 20% from June’s close by mid-August. Unfortunately, that optimism was short-lived, as stubbornly high inflation persisted despite the Fed’s rate hike efforts. Year-over-year inflation fell off its 9.1% peak from June 2022, but remained over 8% during the summer months, which disappointed markets after the Fed realized that even more interest rate hikes were necessary. During these three months, the Fed raised rates 1.50% further, concluding the quarter at 3.25% with no sign that the Fed’s interest rate increases would cease. The S&P 500 Index lost 4.88% while the Russell 2000 Index lost 2.19%. After two quarters of declines, real GDP rose 3.2% quarter-over-quarter.

The third quarter of the period offered a modest respite from the volatility that characterized most of the period to that point. Although year-over-year inflation remained high by historical standards, the U.S. began to observe disinflationary pressures, with Headline CPI readings falling from 7.7% to 6.5% by quarter-end. This provided markets some optimism that the Fed’s aggressive policy tightening campaign was working and the end was in sight. More importantly, markets appeared to be encouraged that the Fed might be able to direct a “soft landing” economic scenario, where their interest rate hikes successfully reduce inflation without causing a severe recession. The S&P 500 Index returned a positive 7.56% during the quarter, while the Russell 2000 Index returned 6.23%. The Fed raised rates another 1.25% during the quarter, concluding 2022 at 4.5% on the Federal Funds Rate. Real GDP grew by 2.6% during the third quarter of the period.

Many investors entered 2023 optimistically believing that the end of interest rate hikes and high inflation was in sight, and that a soft landing scenario was still possible. Disinflationary pressures remained in Headline CPI through the first quarter of 2023, and the Fed slowed their rate hike campaign, opting for two consecutive 25 basis point increases to bring the Federal Funds Rate to 5%. The first quarter of 2023 was volatile, however, resulting from the banking crisis triggered by the failures of Silicon Valley Bank and Signature Bank due to depositor runs and mismanaged interest rate risks in their

 

WisdomTree Trust      1  


Market Environment Overview

(unaudited) (concluded)

 

asset portfolios. Optimism plummeted for much of March 2023, with markets giving up the gains they had earned to that point, as fears of contagion and recession from the banking system triggered flashbacks to the Global Financial Crisis of 2007-2009. The Fed acted decisively once again, creating lending facilities to bolster weaker, vulnerable banks, while other institutions helped facilitate the sale of failing banks, which helped to ease investor anxieties and restore confidence that contagion would likely be avoided. Markets finished the quarter stronger, with the S&P 500 Index and Russell 2000 Index increasing 7.50% and 2.74%, respectively. U.S. Real GDP grew 1.1% during the quarter.

Entering the new fiscal year, many of these risk factors remain paramount, and U.S. financial market performance will be heavily dependent on the health of the banking sector and the path of monetary policy in the U.S. as updated economic data is received.

Each WisdomTree Fund’s performance as set forth in “Management’s Discussion of Funds’ Performance” in the pages that follow should also be viewed in light of the foregoing market environment.

 

2   WisdomTree Trust


Information about Performance and Shareholder Expense Examples (unaudited)

Performance

The performance tables on the following pages are provided for comparative purposes and represent the period noted. Each Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market price return is based on the market price per share of the Fund. The price used to calculate market price returns is the midpoint of the bid and ask price for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other exchange traded funds (“ETFs”), NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors’ assessments of the underlying value of a Fund’s portfolio securities.

Fund shares are bought and sold at market price (not NAV) and are not individually redeemed from a Fund. Fund NAV returns are calculated using a Fund’s daily 4:00 p.m. eastern time NAV. Market price returns reflect the midpoint of the bid and ask price as of the close of trading on the exchange where Fund shares are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.

Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For the most recent month-end performance information visit www.wisdomtree.com/investments.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore, index returns do not reflect deductions for fees or expenses and an index is not available for direct investment. In comparison, the Funds’ performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or taxes that a shareholder would pay on Fund distributions. Past performance is no guarantee of future results.

Shareholder Expense Examples

Each Fund’s performance table is accompanied by a shareholder expense example. As a shareholder of a WisdomTree Fund, you incur two types of cost: (1) transaction costs, including brokerage commissions on purchases and sales of your Fund shares and (2) ongoing costs, including management fees and other Fund expenses. The examples are intended to help you understand your ongoing costs (in dollars and cents) of investing in a Fund and to compare these costs with the ongoing costs of investing in other funds.

The examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire period from October 1, 2022 to March 31, 2023. Except where noted, expenses are calculated using each Fund’s annualized expense ratio (after the effect of contractual or voluntary fee waivers, if any), multiplied by the average account value for the period, multiplied by 182/365 (to reflect the one-half year period). The annualized expense ratio does not include acquired fund fees and expenses (“AFFEs”), which are fees and expenses incurred indirectly by a Fund through its investments in certain underlying investment companies.

Actual expenses

The first line in the shareholder expense example table shown on the following pages provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line for your Fund under the heading entitled “Expenses Paid During the Period” to estimate the expenses you paid on your account during the period.

Hypothetical example for comparison purposes

The second line in the shareholder expense example table shown on the following pages provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in your Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions paid on purchases and sales of Fund shares. Therefore, the second line in the table is useful in comparing ongoing Fund costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

 

WisdomTree Trust      3  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree U.S. AI Enhanced Value Fund (AIVL)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    20.9%  

Financials

    17.9%  

Health Care

    12.8%  

Consumer Staples

    9.6%  

Information Technology

    8.7%  

Materials

    7.8%  

Communication Services

    6.7%  

Energy

    6.2%  

Utilities

    3.4%  

Consumer Discretionary

    3.3%  

Real Estate

    1.5%  

Investment Company

    0.7%  

Other Assets less Liabilities‡

    0.5%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Comcast Corp., Class A

    3.6%  

Keurig Dr. Pepper, Inc.

    3.2%  

Medtronic PLC

    3.2%  

Williams Cos., Inc.

    3.1%  

Abbott Laboratories

    3.1%  

LKQ Corp.

    3.0%  

Intercontinental Exchange, Inc.

    3.0%  

Nasdaq, Inc.

    3.0%  

Roper Technologies, Inc.

    2.9%  

Amcor PLC

    2.8%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. AI Enhanced Value Fund (the “Fund”) seeks income and capital appreciation by investing primarily in equity securities selected from a universe of U.S. equities that exhibit value characteristics based on the selection results of a proprietary, quantitative artificial intelligence (“AI”) model developed by the Fund’s sub-adviser, Voya Investment Management Co., LLC.

The Fund returned -5.25% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). As an AI-driven actively managed fund, the portfolio positioning underwent changes throughout the year. In the first quarter of the fiscal year, the portfolio benefited from strong security selection within Financials and Information Technology, but its underweight allocation to Energy resulted in missed opportunities to participate in the energy rally, which was a major detractor to the Fund’s performance. Moving into the second quarter of the fiscal year, security selection was the main driver of relative underperformance, with stock selection within Communication Services, Information Technology, and Materials being the leading detractors, while allocation effects were minimal. However, in the third quarter of the fiscal year, positive security selection and allocation effects within Communication Services, Utilities, and Information Technology led to outperformance. As the year progressed, allocation and selection effects within Communication Services and Information Technology drove underperformance, while selection within Consumer Discretionary further dampened returns in the fourth quarter of the fiscal year. This resulted in poor performance for the fourth quarter and overall underperformance for the year. The Fund’s failure to participate in the first quarter energy rally, as well as the fourth quarter technology and less-value oriented equity rallies, contributed to the Fund’s overall underperformance for the fiscal year.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,135.90        0.38   $ 2.02  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.04        0.38   $ 1.92  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns1

       -5.25      15.59      4.95      7.38

Fund Market Price Returns1

       -5.40      15.62      4.92      7.37

Russell 1000® Value Index

       -5.91      17.93      7.50      9.13
1 

The Fund’s investment objective changed effective January 18, 2022. Prior to January 18, 2022, the Fund’s investment objective sought to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. Dividend ex-Financials Index.

 

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

4   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree U.S. ESG Fund (RESP)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    25.7%  

Health Care

    14.9%  

Financials

    14.6%  

Consumer Discretionary

    10.8%  

Industrials

    9.5%  

Communication Services

    8.7%  

Consumer Staples

    7.5%  

Utilities

    2.9%  

Real Estate

    2.7%  

Materials

    2.6%  

Other Assets less Liabilities‡

    0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Apple, Inc.

    7.5%  

Microsoft Corp.

    6.2%  

Alphabet, Inc., Class A

    4.5%  

Amazon.com, Inc.

    2.6%  

Visa, Inc., Class A

    1.6%  

MasterCard, Inc., Class A

    1.3%  

JPMorgan Chase & Co.

    1.0%  

UnitedHealth Group, Inc.

    1.0%  

Oracle Corp.

    1.0%  

Johnson & Johnson

    0.9%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. ESG Fund (the “Fund”) seeks capital appreciation. The Fund is actively managed using a model-based approach. The Fund seeks to achieve its investment objective by investing primarily in U.S. equity securities that exhibit certain characteristics believed to be indicative of positive future returns as well as incorporating favorable environmental, social, and governance(“ESG”) characteristics.

The Fund returned -9.07% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its exposures to Consumer Staples, Financials, and Materials primarily due to stock selection effects. The Fund’s position in Information Technology had a negative impact on performance, also due to stock selection effects. Fund performance also suffered due to the Fund’s lack of exposure to the Energy sector, which saw major gains as the Russian invasion of Ukraine caused energy costs to increase.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,134.60        0.28   $ 1.49  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.54        0.28   $ 1.41  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns1

       -9.07      17.78      8.68      10.70

Fund Market Price Returns1

       -9.32      17.83      8.64      10.68

MSCI USA Extended ESG Focus Index2

       -8.94      18.08      11.26      N/A  

S&P 500® Index

       -7.73      18.60      11.19      12.24
1 

The Fund’s name, investment objective and strategies changed effective March 16, 2020. Prior to March 16, 2020, Fund performance reflects the investment objective of the Fund when it was known as the WisdomTree U.S. Total Market Fund (EXT) and tracked the performance, before fees and expenses, of the WisdomTree U.S. Total Market Index.

 

2 

The MSCI USA Extended ESG Focus Index began on March 27, 2018, and the line graph for the Index begins at the same value as the Fund on that date.

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      5  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree U.S. Growth & Momentum Fund (WGRO)

 

Sector Breakdown

 

Sector   % of Net Assets  

Health Care

    21.9%  

Industrials

    19.3%  

Financials

    15.2%  

Information Technology

    11.7%  

Consumer Discretionary

    10.4%  

Consumer Staples

    7.7%  

Materials

    5.9%  

Communication Services

    5.0%  

Energy

    2.8%  

Other Assets less Liabilities‡

    0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

White Mountains Insurance Group Ltd.

    2.2%  

Grand Canyon Education, Inc.

    2.2%  

BioMarin Pharmaceutical, Inc.

    2.0%  

Lamb Weston Holdings, Inc.

    2.0%  

Post Holdings, Inc.

    2.0%  

Flex Ltd.

    2.0%  

Incyte Corp.

    2.0%  

Iridium Communications, Inc.

    2.0%  

Skechers U.S.A., Inc., Class A

    1.9%  

Performance Food Group Co.

    1.9%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. Growth & Momentum Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the O’Neil Growth Index (the “Index”), which is comprised of mid- and large-capitalization companies that provide exposure to high growth and momentum U.S. listed stocks. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -8.89% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its exposures to the Consumer Discretionary, Industrials, and Communication Services sectors, due to both allocation and stock selection factors. Positions in Health Care and Information Technology negatively impacted returns, also due to both allocation and stock selection factors. The Fund’s allocation to companies that are not currently profitable put downward pressure on returns, and the rising interest rate environment that dominated 2022 dampened the performance of many growth stocks, which are particularly interest rate-sensitive.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,129.00        0.55   $ 2.92  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.19        0.55   $ 2.77  

Performance

 

   
        Average Annual Total Return  
        1 Year      Since Inception1  

Fund NAV Returns

       -8.89      -11.36

Fund Market Price Returns

       -9.04      -11.31

O’Neil Growth Index

       -8.33      -10.83

Russell 1000® Growth Index

       -10.90      -4.00

MSCI USA Momentum Index

       -14.60      -8.78
1 

Total returns are calculated based on the commencement of Fund trading on the NASDAQ on June 24, 2021.

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

6   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree U.S. High Dividend Fund (DHS)

 

Sector Breakdown

 

Sector   % of Net Assets  

Energy

    19.1%  

Financials

    18.2%  

Utilities

    13.4%  

Health Care

    12.1%  

Consumer Staples

    11.6%  

Information Technology

    6.7%  

Real Estate

    5.1%  

Communication Services

    4.5%  

Consumer Discretionary

    4.2%  

Materials

    2.6%  

Industrials

    2.2%  

Investment Company

    0.0%

Other Assets less Liabilities‡

    0.3%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

 

*

Represents less than 0.1%.

Top Ten Holdings*

 

Description   % of Net Assets  

Exxon Mobil Corp.

    5.5%  

AbbVie, Inc.

    5.2%  

Chevron Corp.

    4.9%  

Philip Morris International, Inc.

    4.4%  

Pfizer, Inc.

    4.3%  

Cisco Systems, Inc.

    3.9%  

Altria Group, Inc.

    3.8%  

AT&T, Inc.

    3.2%  

International Business Machines Corp.

    2.1%  

Gilead Sciences, Inc.

    2.1%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. High Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. High Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in high dividend yielding companies in the U.S. equity market. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -2.49% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in the Energy, Health Care, and Consumer Staples sectors mainly due to allocation effects. Defensive sectors (such as Health Care and Consumer Staples, for example) outperformed last year, while Energy benefited from a broader commodity rally in a highly inflationary environment. Positions in Financials and Industrials weighed negatively on performance, primarily due to stock selection effects in the former and allocation effects in the latter. Cyclical economic sectors (such as Consumer Discretionary and Real Estate, for example) struggled during the fiscal year due to fears of an imminent recession from the Federal Reserve’s aggressive monetary policy tightening. The Fund’s emphasis on high dividend-paying companies was beneficial during the year’s rising interest rate environment, where income-generating equities were rewarded at the expense of non-dividend-payers.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,108.30        0.38   $ 2.00  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.04        0.38   $ 1.92  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       -2.49      17.81      7.85      8.63

Fund Market Price Returns

       -2.70      17.82      7.84      8.61

WisdomTree U.S. High Dividend Index

       -2.09      18.34      8.27      9.04

Russell 1000® Value Index

       -5.91      17.93      7.50      9.13

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      7  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree U.S. LargeCap Dividend Fund (DLN)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    16.8%  

Health Care

    16.2%  

Financials

    13.8%  

Consumer Staples

    13.0%  

Energy

    10.6%  

Industrials

    9.6%  

Utilities

    5.7%  

Consumer Discretionary

    5.2%  

Real Estate

    4.7%  

Communication Services

    2.5%  

Materials

    1.7%  

Investment Company

    0.1%  

Other Assets less Liabilities‡

    0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Apple, Inc.

    4.0%  

Microsoft Corp.

    3.8%  

Exxon Mobil Corp.

    3.8%  

AbbVie, Inc.

    2.5%  

Chevron Corp.

    2.5%  

JPMorgan Chase & Co.

    1.9%  

Coca-Cola Co.

    1.8%  

Pfizer, Inc.

    1.8%  

Merck & Co., Inc.

    1.8%  

Philip Morris International, Inc.

    1.7%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. LargeCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. LargeCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying large-cap companies in the U.S. equity market. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -3.22% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in the Energy, Financials and Consumer Staples sectors, all primarily due to allocation effects. Energy in particular was additive due to the year’s broader rally in commodities in an inflationary environment. Financials benefited from rising interest rate environments, while Consumer Staples benefited in a volatile economic environment where defensive sectors (such as Health Care and Consumer Staples, for example) outperformed. Materials and Industrials were the largest detractors from performance due to stock selection effects, however, the overall impact to performance from these two sectors was modest. Cyclical economic sectors (such as Industrials and Materials, for example) underperformed during the period due to recessionary fears. The Fund’s emphasis on dividend-paying companies was additive during the year’s rising interest rate environment, where income-generating equities were rewarded at the expense of non-dividend-payers.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,136.00        0.28   $ 1.49  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.54        0.28   $ 1.41  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       -3.22      18.13      9.78      10.57

Fund Market Price Returns

       -3.43      18.13      9.74      10.55

WisdomTree U.S. LargeCap Dividend Index

       -3.00      18.50      10.11      10.89

S&P 500® Index

       -7.73      18.60      11.19      12.24

Russell 1000® Value Index

       -5.91      17.93      7.50      9.13

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

8   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree U.S. LargeCap Fund (EPS)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    20.9%  

Financials

    14.9%  

Health Care

    13.7%  

Communication Services

    13.6%  

Energy

    9.0%  

Consumer Discretionary

    7.2%  

Industrials

    7.2%  

Consumer Staples

    6.4%  

Materials

    2.7%  

Utilities

    2.5%  

Real Estate

    1.8%  

Investment Company

    0.0%

Other Assets less Liabilities‡

    0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

 

*

Represents less than 0.1%.

Top Ten Holdings*

 

Description   % of Net Assets  

Apple, Inc.

    5.5%  

Alphabet, Inc., Class A

    4.8%  

Microsoft Corp.

    4.7%  

Meta Platforms, Inc., Class A

    3.9%  

Exxon Mobil Corp.

    2.7%  

JPMorgan Chase & Co.

    1.7%  

Berkshire Hathaway, Inc., Class B

    1.5%  

Chevron Corp.

    1.5%  

Pfizer, Inc.

    1.5%  

AbbVie, Inc.

    1.1%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. LargeCap Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. LargeCap Index (the “Index”). In seeking to track the Index, the Fund invests in earnings-generating large-cap companies in the U.S. equity market. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -7.42% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in the Health Care, Consumer Discretionary, and Consumer Staples sectors, all primarily due to stock selection. In an environment where defensive sectors such as Health Care and Consumer Staples outperformed, these were particularly additive for the Fund. The Information Technology sector was the greatest detractor from the Fund’s performance during the year, equally due to allocation and stock selection. Technology stocks in particular struggled during the year under the weight of rising interest rates, as higher interest rates tend to discount the value of technology shares more severely than other sectors.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,152.60        0.08   $ 0.43  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,024.53        0.08   $ 0.40  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       -7.42      18.08      9.73      11.30

Fund Market Price Returns

       -7.65      18.12      9.68      11.29

WisdomTree U.S. LargeCap Index

       -7.37      18.19      9.87      11.53

S&P 500® Index

       -7.73      18.60      11.19      12.24

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      9  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree U.S. MidCap Dividend Fund (DON)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    22.5%  

Industrials

    16.4%  

Consumer Discretionary

    11.6%  

Real Estate

    9.7%  

Utilities

    9.6%  

Materials

    9.1%  

Energy

    7.4%  

Information Technology

    4.8%  

Communication Services

    3.0%  

Health Care

    3.0%  

Consumer Staples

    2.7%  

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Paramount Global, Class B

    1.1%  

Packaging Corp. of America

    1.1%  

Chesapeake Energy Corp.

    1.1%  

International Paper Co.

    1.0%  

Evergy, Inc.

    0.9%  

Franklin Resources, Inc.

    0.9%  

Watsco, Inc.

    0.8%  

Snap-on, Inc.

    0.8%  

Interpublic Group of Cos., Inc.

    0.8%  

Viatris, Inc.

    0.8%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. MidCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. MidCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying mid-cap companies in the U.S. equity market. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -4.65% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in the Real Estate, Communication Services, and Consumer Staples sectors, almost entirely due to strong stock selection within each. Communication Services and Real Estate exhibited weakness during the year, but the Fund’s allocation to dividend-paying companies within each was beneficial. No sectors weighed negatively on performance versus broader U.S. mid-caps over the period, as even Consumer Discretionary and Materials had modestly positive and neutral impacts, respectively. Overall, the Fund’s emphasis on dividend-paying companies was additive during the year’s rising interest rate environment, where income-generating equities were rewarded at the expense of non-dividend-payers.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,105.20        0.38   $ 1.99  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.04        0.38   $ 1.92  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       -4.65      22.41      6.52      9.37

Fund Market Price Returns

       -4.86      22.47      6.49      9.35

WisdomTree U.S. MidCap Dividend Index

       -4.26      22.97      6.90      9.75

S&P MidCap 400® Index

       -5.12      22.10      7.67      9.80

Russell Midcap Value Index

       -9.22      20.69      6.54      8.80

 

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

10   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree U.S. MidCap Fund (EZM)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    19.5%  

Consumer Discretionary

    18.6%  

Financials

    16.8%  

Information Technology

    9.5%  

Materials

    9.1%  

Energy

    7.5%  

Health Care

    6.4%  

Real Estate

    4.6%  

Consumer Staples

    2.8%  

Utilities

    2.5%  

Communication Services

    2.5%  

Investment Company

    0.1%  

Other Assets less Liabilities‡

    0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Builders FirstSource, Inc.

    1.4%  

Cleveland-Cliffs, Inc.

    1.0%  

Avis Budget Group, Inc.

    1.0%  

Ally Financial, Inc.

    0.9%  

Arrow Electronics, Inc.

    0.7%  

Dick’s Sporting Goods, Inc.

    0.7%  

AutoNation, Inc.

    0.7%  

Penske Automotive Group, Inc.

    0.7%  

United States Steel Corp.

    0.6%  

PBF Energy, Inc., Class A

    0.6%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. MidCap Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. MidCap Index (the “Index”). In seeking to track the Index, the Fund invests in earnings-generating mid-cap companies in the U.S. equity market. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -7.50% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in the Industrials, Information Technology, and Consumer Discretionary sectors over the fiscal year, almost entirely due to stock selection within each. Positions within Energy, Materials and Health Care negatively weighed the most on performance, also all due to stock selection impacts. The Fund’s emphasis on companies with positive earnings resulted in overweights to the top two quintiles of companies when ranked by profits, which was beneficial during the period. Despite this, underweight positions to the lower quintiles (those companies generating less earnings) weighed negatively on Fund performance mainly due to poor stock selection.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,141.10        0.38   $ 2.03  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.04        0.38   $ 1.92  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       -7.50      25.31      6.84      9.33

Fund Market Price Returns

       -7.62      25.43      6.82      9.31

WisdomTree U.S. MidCap Index

       -7.16      25.77      7.21      9.67

S&P MidCap 400® Index

       -5.12      22.10      7.67      9.80

Russell Midcap Value Index

       -9.22      20.69      6.54      8.80

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      11  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree U.S. Multifactor Fund (USMF)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    20.8%  

Financials

    17.2%  

Health Care

    14.3%  

Consumer Discretionary

    10.7%  

Industrials

    9.4%  

Communication Services

    8.0%  

Consumer Staples

    6.8%  

Energy

    4.5%  

Utilities

    2.8%  

Real Estate

    2.7%  

Materials

    2.6%  

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

International Business Machines Corp.

    1.5%  

Dolby Laboratories, Inc., Class A

    1.3%  

Visa, Inc., Class A

    1.2%  

Oracle Corp.

    1.2%  

Black Knight, Inc.

    1.2%  

Jack Henry & Associates, Inc.

    1.2%  

Cisco Systems, Inc.

    1.2%  

Fiserv, Inc.

    1.1%  

Akamai Technologies, Inc.

    1.1%  

MasterCard, Inc., Class A

    1.1%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. Multifactor Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. Multifactor Index (the “Index”). In seeking to track the Index, the Fund invests in U.S. companies with the highest composite scores based on two fundamental factors, value and quality measures, and two technical factors, momentum and correlation. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -6.68% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in Consumer Discretionary, Communication Services, and Materials, entirely due to stock selection. Similarly, its positions in Real Estate, Information Technology, and Energy were the largest detractors from performance due to poor stock selection. Real Estate and Information Technology were two sectors that struggled during the year in a rising interest rate environment, as higher costs of borrowing hurt real estate values, discouraged new property development and forced cash flows to be discounted at higher rates, resulting in low values. Fund holdings within these two sectors were disproportionately harmed during the high interest rate and high inflation market environment during the fiscal year.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,107.20        0.28   $ 1.47  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.54        0.28   $ 1.41  

Performance

 

   
      Average Annual Total Return  
      1 Year      3 Year      5 Year      Since Inception1  

Fund NAV Returns

     -6.68      16.84      7.75      9.14

Fund Market Price Returns

     -6.82      16.88      7.71      9.11

WisdomTree U.S. Multifactor Index

     -6.48      17.11      7.96      9.31

S&P 500® Index

     -7.73      18.60      11.19      11.61

S&P 500® Equal Weight Index

     -6.31      22.06      9.96      10.28

Russell 3000® Index

     -8.58      18.48      10.45      10.95
1 

Total returns are calculated based on the commencement of Fund trading on the Cboe BZX Exchange, Inc. on June 29, 2017.

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

12   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree U.S. Quality Dividend Growth Fund (DGRW)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    27.3%  

Consumer Staples

    17.8%  

Industrials

    14.9%  

Health Care

    13.1%  

Financials

    12.1%  

Consumer Discretionary

    9.7%  

Materials

    2.2%  

Real Estate

    1.3%  

Utilities

    0.5%  

Energy

    0.5%  

Communication Services

    0.4%  

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Microsoft Corp.

    8.0%  

Apple, Inc.

    5.6%  

Johnson & Johnson

    3.5%  

Procter & Gamble Co.

    2.9%  

Broadcom, Inc.

    2.7%  

Coca-Cola Co.

    2.5%  

Merck & Co., Inc.

    2.4%  

Home Depot, Inc.

    2.4%  

Philip Morris International, Inc.

    2.3%  

Cisco Systems, Inc.

    2.3%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. Quality Dividend Growth Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. Quality Dividend Growth Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying large-cap companies with growth characteristics in the U.S. equity market. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned 0.29% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in the Health Care, Consumer Discretionary, and Consumer Staples sectors due to a combination of strong stock selection and allocation effects within each. Energy and Financials were the biggest detractors from performance, attributable to both allocation and poor stock selection effects. Energy was a strong performing sector for much of the fiscal period due to a broad commodity rally around the world in a high inflation environment and the Fund’s underweight position to energy detracted from performance. However, this was partially offset by a sizable overweight to Consumer Staples, which outperformed along with other defensive sectors (such as Consumer Staples and Health Care, for example) during the fiscal year. The Fund’s emphasis on selecting high quality companies that grow their dividend payments was a beneficial strategy as well, as it benefited from positive stock selection and allocation effects among companies with the highest return-on-equity.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,170.10        0.28   $ 1.51  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.54        0.28   $ 1.41  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      Since Inception1  

Fund NAV Returns

       0.29      19.54      11.53      12.11

Fund Market Price Returns

       0.09      19.53      11.49      12.10

WisdomTree U.S. Quality Dividend Growth Index

       0.56      19.91      11.85      12.44

NASDAQ U.S. Dividend AchieversTM Select Index

       -3.25      16.42      10.92      10.79

S&P 500® Index

       -7.73      18.60      11.19      11.78

Russell 3000® Index

       -8.58      18.48      10.45      11.31
1 

Total returns are calculated based on the commencement of Fund trading on the NASDAQ on May 22, 2013.

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      13  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree U.S. Quality Growth Fund (QGRW)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    44.1%  

Consumer Discretionary

    18.0%  

Communication Services

    13.4%  

Financials

    11.2%  

Health Care

    8.9%  

Industrials

    2.3%  

Materials

    1.4%  

Consumer Staples

    0.5%  

Energy

    0.1%  

Other Assets less Liabilities‡

    0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Apple, Inc.

    12.9%  

Microsoft Corp.

    11.0%  

Alphabet, Inc., Class A

    6.9%  

NVIDIA Corp.

    5.6%  

Amazon.com, Inc.

    5.4%  

Meta Platforms, Inc., Class A

    4.5%  

Tesla, Inc.

    4.3%  

Visa, Inc., Class A

    3.8%  

UnitedHealth Group, Inc.

    3.5%  

MasterCard, Inc., Class A

    2.8%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. Quality Growth Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. Quality Growth Index (the “Index”). In seeking to track the Index, the Fund invests in U.S. large-capitalization and mid-capitalization companies with the highest composite scores based on two fundamental factors: growth and quality, which are equally weighted. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned 13.06% since its inception on December 15, 2022 to March 31, 2023. The Fund benefited from positions in the Information Technology and Financial sectors, due to allocation and stock selection effects, respectively. The Fund’s performance was negatively impacted by its allocation to the Energy sector, primarily due to stock selection. The Fund’s emphasis on companies with good quality and growth characteristics was beneficial during the period, as companies trading at high price-to-earnings ratios outperformed those with lower valuations, and the Fund had greater exposure to the former than the latter.

The Fund had less than six months of operating history at the end of the reporting period and therefore no comparative performance information is shown in this shareholder report. Comparative performance information for the most recent month-end is available at www.wisdomtree.com/investments.

Shareholder Expense Example (for the period1 ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual1

   $ 1,000.00      $ 1,130.60        0.28   $ 0.87  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.54        0.28   $ 1.41  
1 

Fund commenced operations on December 15, 2022. Actual expenses are calculated using the Fund’s annualized expense ratio, multiplied by the average account value for the period, multiplied by 107/365 (to reflect the period since commencement of operations).

 

14   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree U.S. SmallCap Dividend Fund (DES)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    22.5%  

Industrials

    17.6%  

Consumer Discretionary

    14.9%  

Real Estate

    9.5%  

Materials

    8.5%  

Consumer Staples

    6.4%  

Energy

    6.2%  

Information Technology

    4.3%  

Utilities

    4.2%  

Communication Services

    3.1%  

Health Care

    2.6%  

Investment Company

    0.0%

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

 

*

Represents less than 0.1%.

Top Ten Holdings*

 

Description   % of Net Assets  

Cogent Communications Holdings, Inc.

    0.9%  

EPR Properties

    0.9%  

Scotts Miracle-Gro Co.

    0.8%  

Cal-Maine Foods, Inc.

    0.8%  

Radian Group, Inc.

    0.8%  

Arch Resources, Inc.

    0.7%  

MDC Holdings, Inc.

    0.7%  

Greif, Inc., Class A

    0.7%  

Jackson Financial, Inc., Class A

    0.6%  

CONSOL Energy, Inc.

    0.6%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. SmallCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. SmallCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying small-cap companies in the U.S. equity market. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -7.59% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in Health Care, Utilities, and Industrials, mainly due to a mixture of allocation and stock selection impacts. Real Estate and Energy were the only two sectors that detracted from performance during the period, due to a mix of both poor stock selection and allocation effects. The Fund’s focus on dividend-paying companies benefited the Fund during the period. The Fund’s overweight positions in the top four quintiles of companies ranked by dividend yield and by having no exposure to non-payers positively impacted the Fund’s performance during the period. Only the fifth quintile, those with the lowest dividend yield, weighed negatively on performance due to stock selection effects. Overall, the Fund’s emphasis on dividend-paying companies was especially additive during the fiscal year’s rising interest rate environment.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,125.80        0.38   $ 2.01  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.04        0.38   $ 1.92  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       -7.59      19.77      3.75      7.20

Fund Market Price Returns

       -7.78      19.94      3.74      7.18

WisdomTree U.S. SmallCap Dividend Index

       -7.23      20.28      4.15      7.45

Russell 2000® Index

       -11.61      17.51      4.71      8.04

Russell 2000® Value Index

       -12.96      21.01      4.55      7.22

 

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      15  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree U.S. SmallCap Fund (EES)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    23.0%  

Consumer Discretionary

    21.5%  

Industrials

    16.9%  

Information Technology

    8.0%  

Health Care

    7.8%  

Materials

    5.4%  

Energy

    4.9%  

Real Estate

    4.0%  

Communication Services

    3.8%  

Consumer Staples

    3.4%  

Utilities

    1.0%  

Investment Company

    0.2%  

Other Assets less Liabilities‡

    0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

MDC Holdings, Inc.

    0.9%  

Tri Pointe Homes, Inc.

    0.8%  

Matson, Inc.

    0.7%  

Genworth Financial, Inc., Class A

    0.7%  

Century Communities, Inc.

    0.6%  

Sotera Health Co.

    0.6%  

LCI Industries

    0.6%  

O-I Glass, Inc.

    0.6%  

Levi Strauss & Co., Class A

    0.6%  

Warrior Met Coal, Inc.

    0.6%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. SmallCap Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. SmallCap Index (the “Index”). In seeking to track the Index, the Fund invests in earnings-generating small-cap companies in the U.S. equity market. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -8.51% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its underweight position in the Health Care sector due to allocation effects. Performance was also positively impacted from an overweight position in the Consumer Discretionary sector. It also benefited from positive stock selection in the Industrials sector. Energy was the biggest laggard for the Fund during the period, due to a combination of allocation effects resulting from underweight positions in an outperforming sector and then poor stock selection within the sector. The Fund’s emphasis on allocating more to companies with stronger earnings was generally beneficial during the period. The only exception was the second quintile, which had strong earnings and of which the Fund was overweight, however, due to poor stock selection, investments in second quintile companies detracted from the Fund’s performance.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,112.70        0.38   $ 2.00  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.04        0.38   $ 1.92  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       -8.51      26.33      5.51      8.84

Fund Market Price Returns

       -8.77      26.44      5.46      8.82

WisdomTree U.S. SmallCap Index

       -8.27      26.80      5.82      9.07

Russell 2000® Index

       -11.61      17.51      4.71      8.04

Russell 2000® Value Index

       -12.96      21.01      4.55      7.22

 

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

16   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    22.5%  

Consumer Discretionary

    21.9%  

Industrials

    20.1%  

Materials

    10.4%  

Consumer Staples

    6.2%  

Energy

    4.7%  

Information Technology

    3.5%  

Health Care

    3.4%  

Real Estate

    3.0%  

Communication Services

    2.1%  

Utilities

    2.0%  

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Scotts Miracle-Gro Co.

    2.2%  

Cracker Barrel Old Country Store, Inc.

    1.6%  

Moelis & Co., Class A

    1.6%  

Arch Resources, Inc.

    1.6%  

Kontoor Brands, Inc.

    1.4%  

CONSOL Energy, Inc.

    1.4%  

Artisan Partners Asset Management, Inc., Class A

    1.4%  

LCI Industries

    1.4%  

Carter’s, Inc.

    1.4%  

Cohen & Steers, Inc.

    1.2%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. SmallCap Quality Dividend Growth Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. SmallCap Quality Dividend Growth Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying small-cap companies with growth characteristics in the U.S. equity market. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -4.14% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in the Consumer Discretionary, Materials, and Health Care sectors, due to almost an equal mixture of allocation and stock selection impacts. Only the Energy sector had a notably poor performance effect for the Fund. The Fund’s underweight position in the Energy sector during a period when Energy was a stronger performer resulted in negative allocation effects, further compounded by poor stock selection. The Fund’s emphasis on selecting high-quality dividend-growing companies within the small cap space was additive during the period, with overweight positions to the first two quintiles of companies ranked by return-on-equity (ROE) being especially additive. Only the fifth quintile, representing those companies with the lowest ROE, weighed negatively on performance due to a rally by certain lower-quality stocks late in the fiscal year, resulting in poor stock selection.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,174.20        0.38   $ 2.06  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.04        0.38   $ 1.92  

Performance

 

   
      Average Annual Total Return  
      1 Year      3 Year      5 Year      Since Inception1  

Fund NAV Returns

     -4.14      21.65      6.63      7.88

Fund Market Price Returns

     -4.29      21.80      6.61      7.85

WisdomTree U.S. SmallCap Quality Dividend Growth Index

     -3.91      22.14      6.98      8.18

Russell 2000® Index

     -11.61      17.51      4.71      7.12
1

Total returns are calculated based on the commencement of Fund trading on the NASDAQ on July 25, 2013.

 

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      17  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree U.S. Total Dividend Fund (DTD)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    15.5%  

Information Technology

    15.1%  

Health Care

    14.4%  

Consumer Staples

    11.8%  

Industrials

    10.5%  

Energy

    10.2%  

Consumer Discretionary

    6.1%  

Utilities

    6.0%  

Real Estate

    5.0%  

Communication Services

    2.6%  

Materials

    2.6%  

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Apple, Inc.

    3.5%  

Microsoft Corp.

    3.3%  

Exxon Mobil Corp.

    3.3%  

AbbVie, Inc.

    2.2%  

Chevron Corp.

    2.2%  

JPMorgan Chase & Co.

    1.6%  

Coca-Cola Co.

    1.6%  

Pfizer, Inc.

    1.5%  

Merck & Co., Inc.

    1.5%  

Philip Morris International, Inc.

    1.5%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. Total Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in U.S. equities from a broad range of dividend-paying companies. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -3.44% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in the Consumer Discretionary, Materials and Health Care sectors due to a mixture of positive stock selection and allocation effects within each sector. Only the Energy sector had a notable negative impact on performance, which was also due to both stock selection and allocation impacts. Overall, the Fund’s emphasis on dividend-paying companies in the U.S. was beneficial during the year’s rising interest rate environment. Investors rewarded companies paying dividends to shareholders at the expense of low- and non-payers, and income-generating investments helped defend portfolios against larger selloffs amid the market turmoil. Overweighting the dividend-paying universe was universally valuable for the Fund. The Fund’s lack of exposure to non-payers detracted from performance slightly, mainly due to a rally among this group toward the end of the period.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,131.40        0.28   $ 1.49  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.54        0.28   $ 1.41  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       -3.44      18.64      9.20      10.29

Fund Market Price Returns

       -3.58      18.68      9.18      10.29

WisdomTree U.S. Dividend Index

       -3.08      19.00      9.54      10.61

Russell 3000® Index

       -8.58      18.48      10.45      11.73

Russell 3000® Value Index

       -6.35      18.12      7.30      8.99

 

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

18   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree U.S. Value Fund (WTV)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    19.2%  

Consumer Discretionary

    16.1%  

Industrials

    11.7%  

Information Technology

    11.8%  

Materials

    11.3%  

Energy

    9.6%  

Communication Services

    7.2%  

Health Care

    6.9%  

Real Estate

    2.8%  

Consumer Staples

    1.7%  

Utilities

    1.6%  

Other Assets less Liabilities‡

    0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries.

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Meta Platforms, Inc., Class A

    1.7%  

Builders FirstSource, Inc.

    1.3%  

Zillow Group, Inc., Class C

    1.2%  

Marathon Petroleum Corp.

    1.2%  

Voya Financial, Inc.

    1.1%  

FleetCor Technologies, Inc.

    1.1%  

Arrow Electronics, Inc.

    1.1%  

Avis Budget Group, Inc.

    1.1%  

HCA Healthcare, Inc.

    1.1%  

Dow, Inc.

    1.1%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree U.S. Value Fund (the “Fund”) is actively managed using a model-based approach seeking income and capital appreciation by investing primarily in U.S. equity securities that provide a high total shareholder yield with favorable relative quality characteristics.

The Fund returned -2.54% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its exposures to the Consumer Discretionary and Health Care sectors, primarily due to stock selection effects. The Fund’s performance was negatively impacted by its allocation to the Financials sector due to stock selection effects. The Fund’s overweight to securities with high dividend yield and share buyback yield values allowed the Fund to avoid the significant negative performance of companies with zero or negative yields, which were down over 20% during the period.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,160.30        0.12   $ 0.65  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,024.33        0.12   $ 0.61  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns1

       -2.54      24.02      9.72      10.91

Fund Market Price Returns1

       -2.73      24.02      9.70      10.91

Russell 1000® Value Index

       -5.91      17.93      7.50      9.13
1 

The Fund’s investment objective changed effective December 18, 2017. Prior to December 18, 2017, the Fund’s investment objective sought to track the price and yield performance, before fees and expenses, of the WisdomTree U.S. LargeCap Value Index.

 

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      19  


Description of Terms and Indexes (unaudited)

 

Below are descriptions of certain terms and of each Index referenced in this report:

Allocation Effect measures an investment manager’s ability to effectively allocate a portfolio’s assets to various segments. A segment refers to assets or securities that are grouped within a certain classification such as sectors, industries, or countries. The allocation effect determines whether the overweighting or underweighting of segments relative to a benchmark contributes positively or negatively to the overall portfolio return. Positive allocation occurs when the portfolio is overweighted in a segment that outperforms the benchmark and underweighted in a segment that underperforms the benchmark. Negative allocation occurs when the portfolio is overweighted in a segment that underperforms the benchmark and underweighted in a segment that outperforms the benchmark.

Correlation is a statistical measure of how two sets of returns move in relation to each other. Correlation coefficients range from -1 to 1. A correlation of 1 means the two subjects of analysis move in lockstep with each other. A correlation of -1 means the two subjects of analysis have moved in exactly the opposite direction.

Factors generally are attributes that are based on fundamentals or share price behavior.

Growth is generally characterized by higher price levels relative to fundamentals, such as dividends or earnings. Price levels are higher because investors are willing to pay more due to their expectations of future improvements in these fundamentals.

Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of a country’s economic health.

Momentum is generally characterized by assets with recent price increase trends over time. This term is also associated with the momentum factor which associates these stock characteristics with excess return vs. the market over time.

The MSCI USA Extended ESG Focus Index is designed to maximize exposure to positive environmental, social and governance (ESG) factors while exhibiting risk and return characteristics similar to those of the MSCI USA Index, its parent index.

The MSCI USA Momentum Index is designed to reflect the performance of an equity momentum strategy by emphasizing stocks with high price momentum, while maintaining reasonably high trading liquidity, investment capacity and moderate index turnover.

The NASDAQ U.S. Dividend AchieversTM Select Index is a capitalization-weighted index that measures the performance of U.S. common stocks that have a history of increasing dividends for at least ten consecutive years.

The O’Neil Growth Index is comprised of mid- and large-cap companies that provide exposure to high growth and momentum U.S. exchange-listed companies.

Quality is generally characterized by higher efficiency and profitability. Typical measures include earnings, return-on-equity, return on assets, operating profitability as well as others. This term is also related to the quality factor, which associates these stock characteristics with excess returns vs. the market over time.

Quintiles refers to separating a universe of companies into five groups of equal size on the basis of dividend yield, price-to-earnings, or return-on-equity, as applicable.

Return-on-Equity (ROE) measures a corporation’s profitability by revealing how much profit a company generates with the money shareholders have invested.

Risk-on and Risk-off refers to investors’ appetites for risk which rise and fall over time. During periods when risk is perceived as low, the risk-on risk-off theory states that investors tend to engage in higher-risk investments (i.e., “Risk-on”). When risk is perceived to be high, investors have the tendency to gravitate toward lower-risk investments (i.e., “Risk-off”).

 

20   WisdomTree Trust


Description of Terms and Indexes (unaudited) (continued)

 

The Russell 1000® Growth Index measures the performance of the large-cap growth segment of the U.S. equity universe. It includes those Russell 1000® companies with higher price-to-book ratios and higher forcasted growth values. The Russell 1000® Growth Index is constructed to provide a comprehensive and unbiased barometer for the large-cap growth segment.

The Russell 1000® Index represents the top 1,000 companies by market capitalization in the United States.

The Russell 1000® Value Index is a capitalization-weighted index that is comprised of the large-capitalization value segment of the U.S. equity universe, selecting from the Russell 1000 Index.

The Russell 2000® Index is a capitalization-weighted index that is comprised of the smallest 2,000 securities in the Russell 3000 Index, based on total market capitalization.

The Russell 2000® Value Index is a capitalization-weighted index that is comprised of the small-capitalization value segment of the U.S. equity universe, selecting from the Russell 2000 Index.

The Russell 3000® Index is a capitalization-weighted index that is comprised of the 3,000 largest U.S. companies, based on total market capitalization.

The Russell 3000® Value Index is a capitalization-weighted index that measures the performance of the value segment of the broad U.S. equity market, selecting from the Russell 3000 Index.

The Russell MidCap® Index is a market capitalization-weighted index that is comprised of the smallest 800 stocks of the Russell 1000 Index.

The Russell MidCap® Value Index is a capitalization-weighted index that measures the midcap value segment of the U.S. equity universe, selecting from the Russell MidCap Index.

The S&P 500® Equal Weight Index is the equal-weight version of the widely used S&P 500® Index. The index includes the same constituents as the capitalization-weighted S&P 500 Index, but each company is allocated a fixed weight — or 0.2% of the index total at each quarterly rebalance.

The S&P 500® Index is a capitalization-weighted index of 500 stocks selected by the Standard & Poor’s Index Committee, designed to represent the performance of the leading industries in the United States economy.

The S&P MidCap 400® Index is a capitalization-weighted index that is comprised of the mid-capitalization range of the U.S. stock market, with stocks selected by the Standard & Poor’s Index Committee.

Selection Effect measures an investment manager’s ability to select securities within a given segment relative to a benchmark. The over or underperformance of the portfolio is weighted by the benchmark weight, therefore, selection is not affected by the investment manager’s allocation to the segment. The weight of the segment in the portfolio determines the size of the effect — the larger the segment, the larger the effect is, positive or negative. A positive selection effect occurs when the portfolio return is greater than the benchmark return. Thus, the investment manager made good decisions in selecting securities that, as a whole, outperformed similar securities in the benchmark. A negative selection effect occurs when the portfolio return is less than the benchmark return. Thus, the investment manager made poor decisions in selecting securities that, as a whole, underperformed similar securities in the benchmark.

Shareholder Yield generally refers to a data point that references a combination of dividend yield and buyback yield.

Value is generally characterized by lower price levels relative to fundamentals, such as earnings or dividends. Prices are lower because investors are less certain of the performance of these fundamentals in the future. This term is also related to the value factor, which associates these stock characteristics with excess returns vs. the market over time.

 

WisdomTree Trust      21  


Description of Terms and Indexes (unaudited) (continued)

 

 

Volatility is a statistical measure of the dispersion of returns for a given security or market index around a particular average level. If the price stays relatively stable, the security has low volatility. A highly volatile security hits new highs and lows quickly, moves erratically, and has rapid increases and dramatic falls.

The WisdomTree U.S. Dividend Index defines the dividend-paying portion of the U.S. stock market.

The WisdomTree U.S. High Dividend Index is comprised of companies with high dividend yields, selected from the WisdomTree U.S. Dividend Index.

The WisdomTree U.S. LargeCap Dividend Index is comprised of the large-capitalization segment of the U.S. dividend-paying market, selected from the WisdomTree U.S. Dividend Index.

The WisdomTree U.S. LargeCap Index is a fundamentally weighted index that measures the performance of earnings-generating companies within the large-capitalization segment of the U.S. stock market.

The WisdomTree U.S. MidCap Dividend Index is comprised of the mid-capitalization segment of the U.S. dividend-paying market, selected from the WisdomTree U.S. Dividend Index.

The WisdomTree U.S. MidCap Index is a fundamentally weighted index that measures the performance of earnings-generating companies within the mid-capitalization segment of the U.S. stock market.

The WisdomTree U.S. Multifactor Index is comprised of 200 U.S. companies with the highest composite scores based on two fundamental factors, value and quality measures, and two technical factors, momentum and correlation.

The WisdomTree U.S. Quality Growth Index is a market-cap weighted index that consists of companies with quality and growth characteristics. The top 500 U.S. companies by market capitalization are ranked on a composite score of two fundamental factors: growth and quality, which are equally weighted.

The WisdomTree U.S. Quality Dividend Growth Index is comprised of dividend-paying stocks with growth characteristics.

The WisdomTree U.S. SmallCap Dividend Index is comprised of the small-capitalization segment of the U.S. dividend-paying market, selected from the WisdomTree U.S. Dividend Index.

The WisdomTree U.S. SmallCap Index is a fundamentally weighted index that measures the performance of earnings-generating companies within the small-capitalization segment of the U.S. stock market.

The WisdomTree U.S. SmallCap Quality Dividend Growth Index is comprised of the small-capitalization segment of dividend-paying stocks with growth characteristics.

Index performance information assumes the reinvestment of dividends and excludes

management fees, transaction costs and expenses. You cannot directly invest in an index.

The Dow Jones U.S. Select Dividend Index is calculated, distributed and marketed by Dow Jones Indexes, a licensed trademark of CME Group Index Services LLC, and has been licensed for use.

The Global Industry Classification Standard (“GICS”) was developed by and is the exclusive property and a service mark of MSCI Inc. (“MSCI”) and Standard & Poor’s (“S&P”), a division of The McGraw-Hill Companies, Inc., and is licensed for use by WisdomTree, Inc. Neither MSCI, S&P nor any other party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

 

22   WisdomTree Trust


Description of Terms and Indexes (unaudited) (concluded)

 

Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI’s express written consent.

The O’Neil Growth Index is calculated, distributed and marketed by O’Neil Global Advisors, Inc. (OGA), a licensed trademark of OGA, and has been licensed for use.

WisdomTree, Inc. and WisdomTree Asset Management, Inc. (together, “WisdomTree”) and the Funds make no representation or warranty, express or implied, to the owners of shares of the Funds or any member of the public regarding the advisability of investing in securities generally or in the Funds particularly or the ability of the underlying Indexes to track the performance of their underlying securities. WisdomTree is the licensor of certain trademarks, service marks and trade names of the Funds. WisdomTree has no obligation to take the needs of the Funds or the owners of shares of the Funds into consideration in determining, composing, or calculating the underlying WisdomTree Indexes of the applicable Funds. WisdomTree is not responsible for, and has not participated in, the determination of the timing of, prices of, or quantities of shares of the Funds to be issued or in the determination or calculation of the equation by which the shares of the Funds are redeemable. WisdomTree and the Funds do not guarantee the accuracy, completeness, or performance of the underlying Indexes or the data included therein and shall have no liability in connection with the underlying Indexes or their calculation.

 

WisdomTree Trust      23  


Schedule of Investments

WisdomTree U.S. AI Enhanced Value Fund (AIVL)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.8%      
United States – 95.3%      
Aerospace & Defense – 2.0%      

BWX Technologies, Inc.

     20,654      $ 1,302,028  

Curtiss-Wright Corp.

     5,641        994,283  

HEICO Corp.

     5,957        1,018,885  

L3Harris Technologies, Inc.

     4,818        945,485  

Raytheon Technologies Corp.

     10,054        984,588  

Textron, Inc.

     26,395        1,864,279  

Woodward, Inc.

     9,960        969,805  
     

 

 

 
Total Aerospace & Defense               8,079,353  
Automobile Components – 0.2%      

Gentex Corp.

     34,542        968,212  
Banks – 5.2%      

Bank of America Corp.

     150,435        4,302,441  

Citigroup, Inc.

     186,731        8,755,817  

U.S. Bancorp

     106,290        3,831,754  

Wells Fargo & Co.

     96,123        3,593,078  
     

 

 

 
Total Banks               20,483,090  
Beverages – 4.0%      

Brown-Forman Corp., Class A

     15,191        990,301  

Brown-Forman Corp., Class B

     15,203        977,097  

Coca-Cola Co.

     16,572        1,027,961  

Keurig Dr. Pepper, Inc.

     361,143        12,741,125  
     

 

 

 
Total Beverages               15,736,484  
Building Products – 1.2%      

Carrier Global Corp.

     59,468        2,720,661  

Johnson Controls International PLC

     15,724        946,899  

Masco Corp.

     18,809        935,184  
     

 

 

 
Total Building Products               4,602,744  
Capital Markets – 6.3%      

CME Group, Inc.

     5,320        1,018,886  

Intercontinental Exchange, Inc.

     114,655        11,957,370  

Nasdaq, Inc.

     218,426        11,941,350  
     

 

 

 
Total Capital Markets               24,917,606  
Chemicals – 4.8%      

Ashland, Inc.

     9,690        995,260  

Axalta Coating Systems Ltd.*

     33,094        1,002,417  

Corteva, Inc.

     15,833        954,888  

Dow, Inc.

     104,465        5,726,771  

Ecolab, Inc.

     6,188        1,024,300  

Element Solutions, Inc.

     248,869        4,805,661  

Huntsman Corp.

     66,328        1,814,734  

PPG Industries, Inc.

     20,160        2,692,973  
     

 

 

 
Total Chemicals               19,017,004  
Commercial Services & Supplies – 0.6%      

Rollins, Inc.

     59,093        2,217,760  
Communications Equipment – 0.6%      

Cisco Systems, Inc.

     42,893        2,242,232  
Construction & Engineering – 0.3%      

MDU Resources Group, Inc.

     33,807        1,030,437  
Containers & Packaging – 3.0%      

Amcor PLC

     964,093      10,971,378  

International Paper Co.

     27,100        977,226  
     

 

 

 
Total Containers & Packaging               11,948,604  
Distributors – 3.0%      

LKQ Corp.

     211,881        12,026,366  
Electric Utilities – 0.7%      

Avangrid, Inc.(a)

     42,315        1,687,522  

PPL Corp.

     36,430        1,012,390  
     

 

 

 
Total Electric Utilities               2,699,912  
Electrical Equipment – 0.3%      

Emerson Electric Co.

     11,923        1,038,970  
Electronic Equipment, Instruments & Components – 1.5%

 

Corning, Inc.

     168,790        5,954,911  
Entertainment – 1.2%      

Electronic Arts, Inc.

     8,890        1,070,800  

Playtika Holding Corp.*

     102,729        1,156,729  

ROBLOX Corp., Class A*

     55,757        2,507,950  
     

 

 

 
Total Entertainment               4,735,479  
Financial Services – 0.2%      

Western Union Co.

     76,095        848,459  
Food Products – 2.1%      

Conagra Brands, Inc.

     27,085        1,017,313  

Flowers Foods, Inc.

     70,051        1,920,098  

Kraft Heinz Co.

     25,327        979,395  

Mondelez International, Inc., Class A

     46,620        3,250,346  

Tyson Foods, Inc., Class A

     16,648        987,559  
     

 

 

 
Total Food Products               8,154,711  
Gas Utilities – 0.9%      

UGI Corp.

     101,284        3,520,632  
Ground Transportation – 1.6%      

CSX Corp.

     215,015        6,437,549  
Health Care Equipment & Supplies – 9.5%      

Abbott Laboratories

     120,754        12,227,550  

Dentsply Sirona, Inc.

     25,904        1,017,509  

Globus Medical, Inc., Class A*

     16,904        957,443  

Integra LifeSciences Holdings Corp.*(a)

     77,407        4,443,936  

Medtronic PLC

     157,807        12,722,400  

Zimmer Biomet Holdings, Inc.

     47,680        6,160,256  
     

 

 

 
Total Health Care Equipment & Supplies               37,529,094  
Health Care Providers & Services – 0.3%      

Premier, Inc., Class A

     31,794        1,029,172  
Health Care REITs – 0.2%      

Medical Properties Trust, Inc.(a)

     95,748        787,049  
Industrial Conglomerates – 2.8%      

3M Co.

     86,247        9,065,422  

Honeywell International, Inc.

     10,645        2,034,473  
     

 

 

 
Total Industrial Conglomerates               11,099,895  

 

See Notes to Financial Statements.

 

24   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. AI Enhanced Value Fund (AIVL)

March 31, 2023

 

 

 

Investments    Shares      Value  
Industrial REITs – 0.2%      

First Industrial Realty Trust, Inc.

     18,696      $ 994,627  
Insurance – 5.0%      

American International Group, Inc.

     82,183        4,138,736  

Brown & Brown, Inc.

     134,060        7,697,725  

First American Financial Corp.

     17,369        966,759  

Old Republic International Corp.

     287,829        7,187,090  
     

 

 

 
Total Insurance               19,990,310  
Life Sciences Tools & Services – 1.0%      

Bio-Techne Corp.

     13,577        1,007,278  

Bruker Corp.

     36,922        2,910,930  
     

 

 

 
Total Life Sciences Tools & Services               3,918,208  
Machinery – 4.6%      

Donaldson Co., Inc.

     15,592        1,018,781  

Dover Corp.

     6,579        999,613  

Fortive Corp.

     109,123        7,438,915  

Gates Industrial Corp. PLC*

     70,241        975,648  

Otis Worldwide Corp.

     94,181        7,948,876  
     

 

 

 
Total Machinery               18,381,833  
Media – 5.6%      

Comcast Corp., Class A

     371,448        14,081,593  

Fox Corp., Class A

     28,160        958,848  

Sirius XM Holdings, Inc.(a)

     1,768,509        7,020,981  
     

 

 

 
Total Media               22,061,422  
Mortgage Real Estate Investment Trusts (REITs) – 1.2%

 

AGNC Investment Corp.

     390,657        3,937,823  

Rithm Capital Corp.

     108,374        866,992  
     

 

 

 
Total Mortgage Real Estate Investment Trusts (REITs)

 

     4,804,815  
Multi-Utilities – 1.8%      

CMS Energy Corp.

     85,765        5,264,256  

Dominion Energy, Inc.

     17,732        991,396  

NiSource, Inc.

     37,467        1,047,577  
     

 

 

 
Total Multi-Utilities               7,303,229  
Oil, Gas & Consumable Fuels – 6.2%      

Antero Midstream Corp.

     377,351        3,958,412  

Kinder Morgan, Inc.

     378,437        6,626,432  

Occidental Petroleum Corp.

     27,706        1,729,685  

Williams Cos., Inc.

     410,387        12,254,156  
     

 

 

 
Total Oil, Gas & Consumable Fuels               24,568,685  
Professional Services – 5.8%      

Dun & Bradstreet Holdings, Inc.

     166,077        1,949,744  

Genpact Ltd.

     212,540        9,823,599  

Paychex, Inc.

     9,002        1,031,539  

SS&C Technologies Holdings, Inc.

     182,162        10,286,688  
     

 

 

 
Total Professional Services               23,091,570  
Semiconductors & Semiconductor Equipment – 2.5%

 

Intel Corp.

     305,029        9,965,298  
Software – 4.1%

 

  

Dolby Laboratories, Inc., Class A

     11,986        1,023,844  

Dropbox, Inc., Class A*

     166,869        3,607,708  

Roper Technologies, Inc.

     26,473      11,666,386  
     

 

 

 
Total Software               16,297,938  
Specialized REITs – 1.0%      

Gaming & Leisure Properties, Inc.

     18,303        952,854  

SBA Communications Corp.

     5,311        1,386,543  

Weyerhaeuser Co.

     59,572        1,794,904  
     

 

 

 
Total Specialized REITs               4,134,301  
Tobacco – 3.5%      

Altria Group, Inc.

     138,491        6,179,468  

Philip Morris International, Inc.

     80,524        7,830,959  
     

 

 

 
Total Tobacco               14,010,427  
Trading Companies & Distributors – 0.3%      

Fastenal Co.

     22,991        1,240,135  
Total United States               377,868,523  
Netherlands – 2.1%      
Life Sciences Tools & Services – 2.1%      

QIAGEN NV*

     179,998        8,267,308  
United Kingdom – 1.4%      
Machinery – 1.4%      

Pentair PLC

     101,254        5,596,308  
TOTAL COMMON STOCKS
(Cost: $415,169,160)
              391,732,139  
EXCHANGE-TRADED FUND – 0.7%      
United States – 0.7%      
iShares Russell 1000 Value ETF(a)
(Cost: $2,716,660)
     17,706        2,695,916  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.9%

 

United States – 1.9%      

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(b)

     
(Cost: $7,531,713)      7,531,713        7,531,713  
TOTAL INVESTMENTS IN SECURITIES – 101.4%
(Cost: $425,417,533)
        401,959,768  

Other Assets less Liabilities – (1.4)%

        (5,593,213
     

 

 

 
NET ASSETS – 100.0%             $ 396,366,555  
* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $9,873,380 and the total market value of the collateral held by the Fund was $10,401,160. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $2,869,447.

 

(b) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

See Notes to Financial Statements.

 

WisdomTree Trust      25  


Schedule of Investments (concluded)

WisdomTree U.S. AI Enhanced Value Fund (AIVL)

March 31, 2023

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

           

Investments in Securities

           

Common Stocks

   $ 391,732,139      $      $      $ 391,732,139  

Exchange-Traded Fund

     2,695,916                      2,695,916  

Investment of Cash Collateral for Securities Loaned

            7,531,713               7,531,713  

Total Investments in Securities

   $ 394,428,055      $ 7,531,713      $      $ 401,959,768  

 

See Notes to Financial Statements.

 

26   WisdomTree Trust


Schedule of Investments

WisdomTree U.S. ESG Fund (RESP)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.9%

 

United States – 99.9%

 

Air Freight & Logistics – 1.3%

 

C.H. Robinson Worldwide, Inc.

     567      $ 56,343  

Expeditors International of Washington, Inc.

     1,041        114,635  

FedEx Corp.

     874        199,700  

United Parcel Service, Inc., Class B

     2,534        491,571  
     

 

 

 
Total Air Freight & Logistics

 

     862,249  
Automobile Components – 0.4%

 

BorgWarner, Inc.

     2,757        135,396  

Lear Corp.

     1,143        159,437  
     

 

 

 
Total Automobile Components

 

     294,833  
Automobiles – 0.5%

 

General Motors Co.

     6,503        238,530  

Harley-Davidson, Inc.

     2,929        111,214  
     

 

 

 
Total Automobiles

 

     349,744  
Banks – 3.0%

 

Bank of America Corp.

     16,570        473,902  

Citigroup, Inc.

     4,700        220,383  

Comerica, Inc.

     733        31,827  

Fifth Third Bancorp

     2,682        71,449  

Huntington Bancshares, Inc.

     9,853        110,354  

JPMorgan Chase & Co.

     5,208        678,655  

KeyCorp

     9,554        119,616  

Regions Financial Corp.

     6,724        124,797  

U.S. Bancorp

     5,244        189,046  

Wintrust Financial Corp.

     653        47,636  
     

 

 

 
Total Banks

 

     2,067,665  
Beverages – 1.4%

 

Brown-Forman Corp., Class B

     2,361        151,741  

Keurig Dr. Pepper, Inc.

     5,485        193,511  

Molson Coors Beverage Co., Class B

     2,373        122,637  

PepsiCo, Inc.

     2,535        462,130  
     

 

 

 
Total Beverages

 

     930,019  
Biotechnology – 3.2%

 

AbbVie, Inc.

     3,234        515,402  

Amgen, Inc.

     1,170        282,847  

Biogen, Inc.*

     665        184,890  

BioMarin Pharmaceutical, Inc.*

     1,215        118,147  

Gilead Sciences, Inc.

     3,531        292,967  

Halozyme Therapeutics, Inc.*

     1,308        49,952  

Incyte Corp.*

     1,021        73,788  

Moderna, Inc.*

     853        131,004  

Neurocrine Biosciences, Inc.*

     186        18,827  

Regeneron Pharmaceuticals, Inc.*

     325        267,043  

United Therapeutics Corp.*

     282        63,157  

Vertex Pharmaceuticals, Inc.*

     659        207,631  
     

 

 

 
Total Biotechnology

 

     2,205,655  
Broadline Retail – 2.7%

 

Amazon.com, Inc.*

     16,785        1,733,723  

Dillard’s, Inc., Class A

     68        20,922  

Macy’s, Inc.

     5,563      97,297  
     

 

 

 
Total Broadline Retail

 

     1,851,942  
Building Products – 0.8%

 

Advanced Drainage Systems, Inc.(a)

     854        71,915  

Builders FirstSource, Inc.*

     235        20,863  

Carrier Global Corp.

     4,362        199,562  

Fortune Brands Innovations, Inc.

     1,604        94,203  

Owens Corning

     1,969        188,630  
     

 

 

 
Total Building Products

 

     575,173  
Capital Markets – 3.2%

 

Affiliated Managers Group, Inc.

     689        98,127  

Ameriprise Financial, Inc.

     475        145,587  

Bank of New York Mellon Corp.

     3,714        168,764  

Cboe Global Markets, Inc.

     594        79,739  

Charles Schwab Corp.

     3,687        193,125  

CME Group, Inc.

     1,038        198,798  

Goldman Sachs Group, Inc.

     821        268,557  

Interactive Brokers Group, Inc., Class A

     492        40,620  

LPL Financial Holdings, Inc.

     527        106,665  

Morgan Stanley

     3,686        323,631  

Nasdaq, Inc.

     2,713        148,320  

Northern Trust Corp.

     1,770        155,990  

SEI Investments Co.

     1,478        85,059  

State Street Corp.

     2,050        155,164  
     

 

 

 
Total Capital Markets

 

     2,168,146  
Chemicals – 1.1%

 

CF Industries Holdings, Inc.

     2,099        152,157  

Dow, Inc.

     4,084        223,885  

Huntsman Corp.

     5,149        140,877  

Mosaic Co.

     3,013        138,236  

Westlake Corp.

     683        79,214  
     

 

 

 
Total Chemicals

 

     734,369  
Commercial Services & Supplies – 1.0%

 

Clean Harbors, Inc.*

     765        109,059  

Republic Services, Inc.

     1,635        221,085  

Rollins, Inc.

     1,225        45,974  

Waste Management, Inc.

     1,855        302,680  
     

 

 

 
Total Commercial Services & Supplies

 

     678,798  
Communications Equipment – 1.5%

 

Cisco Systems, Inc.

     11,015        575,809  

Juniper Networks, Inc.

     6,028        207,484  

Motorola Solutions, Inc.

     919        262,953  
     

 

 

 
Total Communications Equipment

 

     1,046,246  
Construction & Engineering – 0.5%

 

AECOM

     1,415        119,313  

EMCOR Group, Inc.

     999        162,427  

Valmont Industries, Inc.

     154        49,169  

WillScot Mobile Mini Holdings Corp.*

     602        28,222  
     

 

 

 
Total Construction & Engineering

 

     359,131  
Consumer Finance – 0.8%

 

American Express Co.

     1,854        305,817  

 

See Notes to Financial Statements.

 

WisdomTree Trust      27  


Schedule of Investments (continued)

WisdomTree U.S. ESG Fund (RESP)

March 31, 2023

 

 

 

Investments    Shares      Value  

Discover Financial Services

     1,084      $ 107,143  

Synchrony Financial

     3,311        96,284  
     

 

 

 
Total Consumer Finance

 

     509,244  
Consumer Staples Distribution & Retail – 0.8%

 

Sysco Corp.

     1,995        154,074  

Target Corp.

     1,835        303,931  

U.S. Foods Holding Corp.*

     2,089        77,168  
     

 

 

 
Total Consumer Staples Distribution & Retail

 

     535,173  
Containers & Packaging – 0.4%

 

Packaging Corp. of America

     857        118,977  

Sonoco Products Co.

     2,845        173,545  
     

 

 

 
Total Containers & Packaging

 

     292,522  
Distributors – 0.2%

 

Genuine Parts Co.

     475        79,472  

LKQ Corp.

     1,331        75,548  
     

 

 

 
Total Distributors

 

     155,020  
Diversified Consumer Services – 0.4%

 

ADT, Inc.

     11,734        84,837  

H&R Block, Inc.

     2,445        86,186  

Service Corp. International

     1,072        73,732  
     

 

 

 
Total Diversified Consumer Services

 

     244,755  
Diversified REITs – 0.2%

 

W.P. Carey, Inc.

     1,309        101,382  
Diversified Telecommunication Services – 1.7%

 

AT&T, Inc.

     26,333        506,910  

Verizon Communications, Inc.

     15,967        620,957  
     

 

 

 
Total Diversified Telecommunication Services

 

     1,127,867  
Electric Utilities – 1.6%

 

Avangrid, Inc.

     6,563        261,732  

Edison International

     3,212        226,735  

Eversource Energy

     3,737        292,458  

Exelon Corp.

     6,598        276,390  
     

 

 

 
Total Electric Utilities

 

     1,057,315  
Electrical Equipment – 0.4%

 

Acuity Brands, Inc.

     541        98,857  

Atkore, Inc.*

     601        84,429  

Hubbell, Inc.

     417        101,460  
     

 

 

 
Total Electrical Equipment

 

     284,746  
Electronic Equipment, Instruments & Components – 1.0%

 

Arrow Electronics, Inc.*

     1,305        162,955  

Jabil, Inc.

     2,654        233,977  

Keysight Technologies, Inc.*

     1,550        250,294  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     647,226  
Entertainment – 0.7%

 

Activision Blizzard, Inc.

     1,748        149,612  

Electronic Arts, Inc.

     1,322        159,235  

Endeavor Group Holdings, Inc., Class A*(a)

     5,925        141,785  

World Wrestling Entertainment, Inc., Class A

     297        27,104  
     

 

 

 
Total Entertainment

 

     477,736  
Financial Services – 4.3%

 

Fiserv, Inc.*

     2,129      240,641  

Jack Henry & Associates, Inc.

     706        106,408  

MasterCard, Inc., Class A

     2,396        870,730  

PayPal Holdings, Inc.*

     4,607        349,856  

Visa, Inc., Class A

     4,833        1,089,648  

Voya Financial, Inc.

     2,220        158,641  

WEX, Inc.*

     477        87,716  
     

 

 

 
Total Financial Services

 

     2,903,640  
Food Products – 3.3%

 

Archer-Daniels-Midland Co.

     2,020        160,913  

Campbell Soup Co.

     2,943        161,806  

Conagra Brands, Inc.

     3,879        145,695  

Darling Ingredients, Inc.*

     1,331        77,731  

Flowers Foods, Inc.

     2,708        74,226  

General Mills, Inc.

     2,318        198,096  

Hershey Co.

     857        218,029  

Hormel Foods Corp.

     3,635        144,964  

J.M. Smucker Co.

     770        121,175  

Kellogg Co.

     2,397        160,503  

Kraft Heinz Co.

     3,883        150,156  

Lamb Weston Holdings, Inc.

     981        102,534  

McCormick & Co., Inc., Non-Voting Shares

     2,282        189,885  

Mondelez International, Inc., Class A

     3,430        239,140  

Tyson Foods, Inc., Class A

     1,853        109,920  
     

 

 

 
Total Food Products

 

     2,254,773  
Gas Utilities – 0.1%

 

UGI Corp.

     2,311        80,330  
Ground Transportation – 0.4%

 

Avis Budget Group, Inc.*

     563        109,672  

Knight-Swift Transportation Holdings, Inc.

     958        54,204  

Landstar System, Inc.

     423        75,827  
     

 

 

 
Total Ground Transportation

 

     239,703  
Health Care Equipment & Supplies – 2.2%

 

Abbott Laboratories

     3,578        362,308  

Baxter International, Inc.

     4,616        187,225  

Becton Dickinson & Co.

     923        228,479  

Boston Scientific Corp.*

     5,150        257,655  

Edwards Lifesciences Corp.*

     2,461        203,599  

Hologic, Inc.*

     1,472        118,790  

Zimmer Biomet Holdings, Inc.

     1,266        163,567  
     

 

 

 
Total Health Care Equipment & Supplies

 

     1,521,623  
Health Care Providers & Services – 4.8%

 

Acadia Healthcare Co., Inc.*

     514        37,137  

AmerisourceBergen Corp.

     1,071        171,478  

Cardinal Health, Inc.

     1,905        143,827  

Centene Corp.*

     1,340        84,701  

Chemed Corp.

     110        59,152  

Cigna Group

     953        243,520  

CVS Health Corp.

     3,634        270,043  

DaVita, Inc.*

     1,208        97,981  

Elevance Health, Inc.

     698        320,947  

 

See Notes to Financial Statements.

 

28   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. ESG Fund (RESP)

March 31, 2023

 

 

 

Investments    Shares      Value  

Encompass Health Corp.

     820      $ 44,362  

HCA Healthcare, Inc.

     614        161,900  

Henry Schein, Inc.*

     1,354        110,405  

Humana, Inc.

     437        212,146  

Laboratory Corp. of America Holdings

     482        110,580  

McKesson Corp.

     491        174,821  

Molina Healthcare, Inc.*

     247        66,070  

Option Care Health, Inc.*

     449        14,265  

Quest Diagnostics, Inc.

     978        138,367  

Tenet Healthcare Corp.*

     1,349        80,158  

UnitedHealth Group, Inc.

     1,423        672,496  

Universal Health Services, Inc., Class B

     394        50,077  
     

 

 

 
Total Health Care Providers & Services

 

     3,264,433  
Health Care REITs – 0.1%

 

Omega Healthcare Investors, Inc.

     1,557        42,677  
Hotel & Resort REITs – 0.3%

 

Host Hotels & Resorts, Inc.

     12,714        209,654  
Hotels, Restaurants & Leisure – 2.3%

 

Booking Holdings, Inc.*

     74        196,279  

Darden Restaurants, Inc.

     944        146,471  

Expedia Group, Inc.*

     594        57,636  

Marriott Vacations Worldwide Corp.

     594        80,107  

McDonald’s Corp.

     1,548        432,836  

Starbucks Corp.

     3,156        328,634  

Texas Roadhouse, Inc.

     391        42,252  

Vail Resorts, Inc.

     324        75,712  

Yum! Brands, Inc.

     1,579        208,554  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     1,568,481  
Household Durables – 0.4%

 

D.R. Horton, Inc.

     970        94,759  

Lennar Corp., Class A

     603        63,381  

PulteGroup, Inc.

     1,418        82,641  

Toll Brothers, Inc.

     814        48,865  
     

 

 

 
Total Household Durables

 

     289,646  
Household Products – 1.8%

 

Church & Dwight Co., Inc.

     1,406        124,305  

Clorox Co.

     856        135,453  

Colgate-Palmolive Co.

     2,821        211,998  

Kimberly-Clark Corp.

     1,272        170,728  

Procter & Gamble Co.

     4,054        602,789  

Reynolds Consumer Products, Inc.

     173        4,758  
     

 

 

 
Total Household Products

 

     1,250,031  
Industrial Conglomerates – 0.4%

 

3M Co.

     2,543        267,295  
Insurance – 3.3%

 

Aflac, Inc.

     2,707        174,656  

Allstate Corp.

     1,339        148,375  

American Financial Group, Inc.

     492        59,778  

American International Group, Inc.

     2,188        110,188  

CNA Financial Corp.

     1,018        39,732  

Fidelity National Financial, Inc.

     506        17,675  

Globe Life, Inc.

     420        46,208  

Kinsale Capital Group, Inc.

     117      35,118  

Markel Corp.*

     43        54,929  

Marsh & McLennan Cos., Inc.

     1,235        205,689  

MetLife, Inc.

     3,063        177,470  

Old Republic International Corp.

     651        16,255  

Primerica, Inc.

     516        88,876  

Principal Financial Group, Inc.

     1,870        138,978  

Progressive Corp.

     1,472        210,584  

Prudential Financial, Inc.

     2,106        174,250  

Reinsurance Group of America, Inc.

     572        75,939  

RLI Corp.

     256        34,025  

Selective Insurance Group, Inc.

     1,003        95,616  

Travelers Cos., Inc.

     1,036        177,581  

Unum Group

     2,928        115,832  

W.R. Berkley Corp.

     1,123        69,918  
     

 

 

 
Total Insurance

 

     2,267,672  
Interactive Media & Services – 4.5%

 

Alphabet, Inc., Class A*

     29,553        3,065,533  
IT Services – 1.9%

 

Akamai Technologies, Inc.*

     2,339        183,144  

Cognizant Technology Solutions Corp., Class A

     2,868        174,747  

DXC Technology Co.*

     5,040        128,822  

Gartner, Inc.*

     463        150,832  

GoDaddy, Inc., Class A*

     1,349        104,844  

International Business Machines Corp.

     3,297        432,204  

VeriSign, Inc.*

     503        106,299  
     

 

 

 
Total IT Services

 

     1,280,892  
Life Sciences Tools & Services – 0.9%

 

Agilent Technologies, Inc.

     1,391        192,431  

Avantor, Inc.*

     4,356        92,086  

Charles River Laboratories International, Inc.*

     344        69,426  

Medpace Holdings, Inc.*

     87        16,360  

Waters Corp.*

     326        100,939  

West Pharmaceutical Services, Inc.

     440        152,447  
     

 

 

 
Total Life Sciences Tools & Services

 

     623,689  
Machinery – 2.1%

 

AGCO Corp.

     972        131,414  

Caterpillar, Inc.

     1,398        319,918  

Deere & Co.

     817        337,323  

Lincoln Electric Holdings, Inc.

     940        158,954  

PACCAR, Inc.

     2,078        152,110  

Snap-on, Inc.

     392        96,781  

Toro Co.

     976        108,492  

Watts Water Technologies, Inc., Class A

     700        117,824  
     

 

 

 
Total Machinery

 

     1,422,816  
Media – 1.9%

 

Charter Communications, Inc., Class A*

     431        154,130  

Comcast Corp., Class A

     13,667        518,116  

Fox Corp., Class A

     3,779        128,675  

Interpublic Group of Cos., Inc.

     6,244        232,526  

New York Times Co., Class A

     960        37,325  

Nexstar Media Group, Inc.

     127        21,928  

 

See Notes to Financial Statements.

 

WisdomTree Trust      29  


Schedule of Investments (continued)

WisdomTree U.S. ESG Fund (RESP)

March 31, 2023

 

 

 

Investments    Shares      Value  

Omnicom Group, Inc.

     1,924      $ 181,510  
     

 

 

 
Total Media

 

     1,274,210  
Metals & Mining – 1.1%

 

Cleveland-Cliffs, Inc.*

     6,282        115,149  

Commercial Metals Co.

     2,664        130,270  

Nucor Corp.

     1,133        175,014  

Reliance Steel & Aluminum Co.

     390        100,129  

Steel Dynamics, Inc.

     1,239        140,081  

United States Steel Corp.

     2,561        66,842  
     

 

 

 
Total Metals & Mining

 

     727,485  
Multi-Utilities – 1.3%

 

Consolidated Edison, Inc.

     2,674        255,821  

Public Service Enterprise Group, Inc.

     4,653        290,580  

Sempra Energy

     2,073        313,355  
     

 

 

 
Total Multi-Utilities

 

     859,756  
Passenger Airlines – 0.3%

 

Alaska Air Group, Inc.*

     3,102        130,160  

United Airlines Holdings, Inc.*

     1,995        88,279  
     

 

 

 
Total Passenger Airlines

 

     218,439  
Personal Care Products – 0.2%

 

Coty, Inc., Class A*

     8,725        105,224  
Pharmaceuticals – 3.6%

 

Bristol-Myers Squibb Co.

     4,565        316,400  

Elanco Animal Health, Inc.*

     3,508        32,975  

Eli Lilly & Co.

     1,535        527,150  

Johnson & Johnson

     4,066        630,230  

Merck & Co., Inc.

     4,722        502,373  

Pfizer, Inc.

     11,446        466,997  
     

 

 

 
Total Pharmaceuticals

 

     2,476,125  
Professional Services – 1.8%

 

Automatic Data Processing, Inc.

     1,389        309,233  

Booz Allen Hamilton Holding Corp.

     1,672        154,978  

Broadridge Financial Solutions, Inc.

     1,232        180,574  

Concentrix Corp.

     796        96,754  

FTI Consulting, Inc.*

     677        133,606  

Robert Half International, Inc.

     1,755        141,400  

Verisk Analytics, Inc.

     1,074        206,058  
     

 

 

 
Total Professional Services

 

     1,222,603  
Real Estate Management & Development – 0.6%

 

CBRE Group, Inc., Class A*

     2,960        215,518  

Jones Lang LaSalle, Inc.*

     1,297        188,700  
     

 

 

 
Total Real Estate Management & Development

 

     404,218  
Residential REITs – 0.2%

 

Apartment Income REIT Corp.

     2,796        100,125  
Retail REITs – 0.7%

 

Agree Realty Corp.

     1,125        77,186  

Brixmor Property Group, Inc.

     7,541        162,282  

National Retail Properties, Inc.

     1,031        45,519  

Simon Property Group, Inc.

     1,713        191,805  
     

 

 

 
Total Retail REITs

 

     476,792  
Semiconductors & Semiconductor Equipment – 2.4%

 

Amkor Technology, Inc.

     4,310      112,146  

Applied Materials, Inc.

     3,534        434,082  

Cirrus Logic, Inc.*

     1,361        148,866  

First Solar, Inc.*

     1,010        219,675  

Lam Research Corp.

     593        314,361  

QUALCOMM, Inc.

     3,143        400,984  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     1,630,114  
Software – 10.4%

 

Adobe, Inc.*

     1,327        511,386  

Autodesk, Inc.*

     1,329        276,645  

Black Knight, Inc.*

     1,222        70,338  

CCC Intelligent Solutions Holdings, Inc.*

     16,882        151,432  

Dolby Laboratories, Inc., Class A

     1,764        150,681  

Dropbox, Inc., Class A*

     5,160        111,559  

Fair Isaac Corp.*

     122        85,728  

Gen Digital, Inc.

     11,338        194,560  

Microsoft Corp.

     14,701        4,238,298  

Oracle Corp.

     7,096        659,360  

Palo Alto Networks, Inc.*

     1,027        205,133  

PTC, Inc.*

     769        98,609  

VMware, Inc., Class A*

     2,243        280,039  
     

 

 

 
Total Software

 

     7,033,768  
Specialized REITs – 0.7%

 

Gaming & Leisure Properties, Inc.

     1,152        59,973  

Iron Mountain, Inc.

     3,958        209,418  

Weyerhaeuser Co.

     7,665        230,946  
     

 

 

 
Total Specialized REITs

 

     500,337  
Specialty Retail – 3.4%

 

AutoNation, Inc.*

     454        60,999  

AutoZone, Inc.*

     65        159,780  

Best Buy Co., Inc.

     2,161        169,141  

Home Depot, Inc.

     2,115        624,179  

Lowe’s Cos., Inc.

     1,784        356,746  

O’Reilly Automotive, Inc.*

     109        92,539  

Penske Automotive Group, Inc.

     771        109,336  

TJX Cos., Inc.

     3,482        272,850  

Tractor Supply Co.

     703        165,233  

Ulta Beauty, Inc.*

     254        138,600  

Williams-Sonoma, Inc.

     1,226        149,155  
     

 

 

 
Total Specialty Retail

 

     2,298,558  
Technology Hardware, Storage & Peripherals – 8.5%

 

Apple, Inc.

     30,968        5,106,623  

Hewlett Packard Enterprise Co.

     15,640        249,145  

HP, Inc.

     9,351        274,452  

NetApp, Inc.

     2,641        168,628  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     5,798,848  
Textiles, Apparel & Luxury Goods – 0.4%

 

Deckers Outdoor Corp.*

     345        155,095  

Tapestry, Inc.

     3,055        131,701  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     286,796  

 

See Notes to Financial Statements.

 

30   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree U.S. ESG Fund (RESP)

March 31, 2023

 

 

 

Investments    Shares      Value  
Trading Companies & Distributors – 0.5%

 

United Rentals, Inc.

     458      $ 181,258  

WESCO International, Inc.

     982        151,758  
     

 

 

 
Total Trading Companies & Distributors

 

     333,016  
TOTAL INVESTMENTS IN SECURITIES – 99.9%
(Cost: $56,042,618)

 

     67,856,258  

Other Assets less Liabilities – 0.1%

 

     80,965  
     

 

 

 
NET ASSETS – 100.0%

 

   $ 67,937,223  
* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan was $192,268 and the total market value of the collateral held by the Fund was $193,379, which was entirely composed of non-cash U.S. Government securities.

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

     

Investments in Securities

  

Common Stocks

   $ 67,856,258      $      $      $ 67,856,258  

Total Investments in Securities

   $ 67,856,258      $      $      $ 67,856,258  

 

See Notes to Financial Statements.

 

WisdomTree Trust      31  


Schedule of Investments

WisdomTree U.S. Growth & Momentum Fund (WGRO)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.9%      
United States – 93.9%      
Aerospace & Defense – 1.2%      

Howmet Aerospace, Inc.

     733      $ 31,057  
Banks – 2.1%      

East West Bancorp, Inc.

     425        23,588  

JPMorgan Chase & Co.

     220        28,668  
     

 

 

 
Total Banks               52,256  
Biotechnology – 14.8%      

Alnylam Pharmaceuticals, Inc.*

     236        47,275  

Biogen, Inc.*

     169        46,987  

BioMarin Pharmaceutical, Inc.*

     516        50,176  

Halozyme Therapeutics, Inc.*

     1,041        39,756  

Incyte Corp.*

     688        49,722  

Neurocrine Biosciences, Inc.*

     452        45,751  

Regeneron Pharmaceuticals, Inc.*

     58        47,657  

United Therapeutics Corp.*

     186        41,657  
     

 

 

 
Total Biotechnology               368,981  
Building Products – 1.9%      

Griffon Corp.

     1,461        46,767  
Capital Markets – 3.1%      

Ameriprise Financial, Inc.

     89        27,278  

Interactive Brokers Group, Inc., Class A

     329        27,162  

LPL Financial Holdings, Inc.

     114        23,074  
     

 

 

 
Total Capital Markets               77,514  
Chemicals – 1.4%      

Corteva, Inc.

     558        33,653  
Commercial Services & Supplies – 1.2%      

Waste Connections, Inc.

     222        30,874  
Construction & Engineering – 2.8%      

Valmont Industries, Inc.

     140        44,699  

WillScot Mobile Mini Holdings Corp.*

     537        25,175  
     

 

 

 
Total Construction & Engineering               69,874  
Consumer Staples Distribution & Retail – 3.7%      

Performance Food Group Co.*

     793        47,850  

U.S. Foods Holding Corp.*

     1,195        44,143  
     

 

 

 
Total Consumer Staples Distribution & Retail               91,993  
Diversified Consumer Services – 2.2%      

Grand Canyon Education, Inc.*

     475        54,102  
Diversified Telecommunication Services – 2.0%      

Iridium Communications, Inc.

     797        49,358  
Electrical Equipment – 2.1%      

Atkore, Inc.*

     191        26,832  

nVent Electric PLC

     609        26,150  
     

 

 

 
Total Electrical Equipment               52,982  
Electronic Equipment, Instruments & Components – 3.4%

 

Flex Ltd.*

     2,164        49,794  

Insight Enterprises, Inc.*

     240        34,310  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     84,104  
Energy Equipment & Services – 1.1%

 

Valaris Ltd.*

     411      26,740  
Entertainment – 1.9%      

World Wrestling Entertainment, Inc., Class A

     523        47,729  
Financial Services – 2.2%      

Apollo Global Management, Inc.

     439        27,727  

Jack Henry & Associates, Inc.

     179        26,979  
     

 

 

 
Total Financial Services               54,706  
Food Products – 4.0%

 

Lamb Weston Holdings, Inc.

     480        50,169  

Post Holdings, Inc.*

     556        49,968  
     

 

 

 
Total Food Products               100,137  
Health Care Equipment & Supplies – 2.3%

 

Inspire Medical Systems, Inc.*

     116        27,152  

Penumbra, Inc.*

     108        30,099  
     

 

 

 
Total Health Care Equipment & Supplies               57,251  
Health Care Providers & Services – 1.8%

 

Acadia Healthcare Co., Inc.*

     629        45,445  
Hotels, Restaurants & Leisure – 3.2%      

Hyatt Hotels Corp., Class A*

     240        26,830  

Las Vegas Sands Corp.*

     470        27,001  

Royal Caribbean Cruises Ltd.*

     395        25,794  
     

 

 

 
Total Hotels, Restaurants & Leisure               79,625  
Insurance – 7.8%

 

Arch Capital Group Ltd.*

     400        27,148  

Arthur J. Gallagher & Co.

     162        30,992  

Kinsale Capital Group, Inc.

     90        27,013  

Markel Corp.*

     21        26,826  

W.R. Berkley Corp.

     415        25,838  

White Mountains Insurance Group Ltd.

     40        55,100  
     

 

 

 
Total Insurance               192,917  
Life Sciences Tools & Services – 2.9%

 

IQVIA Holdings, Inc.*

     130        25,856  

Medpace Holdings, Inc.*

     246        46,260  
     

 

 

 
Total Life Sciences Tools & Services               72,116  
Machinery – 1.1%

 

Toro Co.

     240        26,678  
Metals & Mining – 2.8%      

ATI, Inc.*

     684        26,990  

Steel Dynamics, Inc.

     381        43,076  
     

 

 

 
Total Metals & Mining               70,066  
Professional Services – 1.8%

 

EXL Service Holdings, Inc.*

     283        45,798  
Semiconductors & Semiconductor Equipment – 3.6%

 

Rambus, Inc.*

     640        32,806  

Silicon Laboratories, Inc.*

     156        27,314  

Texas Instruments, Inc.

     153        28,460  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     88,580  

 

See Notes to Financial Statements.

 

32   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree U.S. Growth & Momentum Fund (WGRO)

March 31, 2023

 

 

 

Investments    Shares      Value  
Software – 3.5%

 

Ceridian HCM Holding, Inc.*

     392      $ 28,702  

Dropbox, Inc., Class A*

     1,351        29,209  

Oracle Corp.

     309        28,712  
     

 

 

 
Total Software               86,623  
Specialty Retail – 1.2%

 

AutoZone, Inc.*

     12        29,498  
Textiles, Apparel & Luxury Goods – 3.8%      

Crocs, Inc.*

     375        47,415  

Skechers U.S.A., Inc., Class A*

     1,009        47,948  
     

 

 

 
Total Textiles, Apparel & Luxury Goods               95,363  
Trading Companies & Distributors – 5.9%

 

Herc Holdings, Inc.

     208        23,691  

McGrath RentCorp

     269        25,100  

United Rentals, Inc.

     62        24,537  

Univar Solutions, Inc.*

     1,331        46,625  

WESCO International, Inc.

     168        25,963  
     

 

 

 
Total Trading Companies & Distributors               145,916  
Wireless Telecommunication Services – 1.1%

 

T-Mobile US, Inc.*

     184        26,651  
Total United States               2,335,354  
Canada – 3.0%

 

Ground Transportation – 1.2%

 

Canadian Pacific Railway Ltd.

     396      30,468  
Metals & Mining – 1.8%      

Teck Resources Ltd., Class B

     1,178        42,997  
Total Canada               73,465  
Israel – 1.2%

 

Software – 1.2%

 

Check Point Software Technologies Ltd.*

     231        30,030  
United Kingdom – 1.8%      
Energy Equipment & Services – 1.8%

 

TechnipFMC PLC*      3,205        43,748  
TOTAL INVESTMENTS IN SECURITIES – 99.9%
(Cost: $2,468,734)
        2,482,597  

Other Assets less Liabilities – 0.1%

        3,030  
     

 

 

 
NET ASSETS – 100.0%             $ 2,485,627  
* 

Non-income producing security.

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

           

Investments in Securities

           

Common Stocks

   $ 2,482,597      $      $      $ 2,482,597  

Total Investments in Securities

   $ 2,482,597      $      $      $ 2,482,597  

 

See Notes to Financial Statements.

 

WisdomTree Trust      33  


Schedule of Investments

WisdomTree U.S. High Dividend Fund (DHS)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.7%

 

United States – 99.6%

 

Aerospace & Defense – 0.1%

 

Kaman Corp.

     21,331      $ 487,627  

Park Aerospace Corp.

     14,049        188,959  
     

 

 

 
Total Aerospace & Defense

 

     676,586  
Automobile Components – 0.2%

 

LCI Industries

     14,014        1,539,718  

Patrick Industries, Inc.

     16,198        1,114,585  
     

 

 

 
Total Automobile Components

 

     2,654,303  
Automobiles – 0.9%

 

Ford Motor Co.

     981,126        12,362,188  
Banks – 10.3%

 

American National Bankshares, Inc.

     6,487        205,638  

Ames National Corp.

     6,499        135,179  

Arrow Financial Corp.

     13,127        326,994  

Associated Banc-Corp.

     67,110        1,206,638  

Atlantic Union Bankshares Corp.(a)

     38,017        1,332,496  

Bank of Hawaii Corp.(a)

     19,055        992,384  

Bar Harbor Bankshares

     9,625        254,581  

BCB Bancorp, Inc.

     14,600        191,698  

Blue Ridge Bankshares, Inc.

     7,572        77,234  

Brookline Bancorp, Inc.

     63,684        668,682  

Camden National Corp.

     12,033        435,474  

Capitol Federal Financial, Inc.

     110,318        742,440  

Central Pacific Financial Corp.

     22,487        402,517  

Citigroup, Inc.

     470,176        22,046,553  

Citizens & Northern Corp.

     11,688        249,889  

Citizens Financial Group, Inc.

     130,609        3,966,595  

Columbia Banking System, Inc.

     117,373        2,514,130  

Comerica, Inc.

     37,785        1,640,625  

Community Trust Bancorp, Inc.

     14,652        556,043  

Eagle Bancorp, Inc.

     24,273        812,417  

Evans Bancorp, Inc.

     4,172        140,033  

Farmers National Banc Corp.

     28,113        355,348  

Fifth Third Bancorp

     169,810        4,523,738  

Financial Institutions, Inc.

     13,037        251,353  

First Bancorp, Inc.

     7,200        186,408  

First Busey Corp.

     42,532        865,101  

First Commonwealth Financial Corp.

     76,431        950,037  

First Community Bankshares, Inc.

     12,086        302,754  

First Financial Bancorp

     60,822        1,324,095  

First Hawaiian, Inc.

     63,590        1,311,862  

First Interstate BancSystem, Inc., Class A

     45,771        1,366,722  

First of Long Island Corp.

     19,546        263,871  

Flushing Financial Corp.

     25,287        376,523  

FNB Corp.

     168,085        1,949,786  

Fulton Financial Corp.

     94,334        1,303,696  

Hanmi Financial Corp.

     25,446        472,532  

HBT Financial, Inc.

     20,702        408,244  

Heritage Commerce Corp.

     48,984        408,037  

HomeStreet, Inc.

     15,338        275,931  

Hope Bancorp, Inc.

     89,693        880,785  

Horizon Bancorp, Inc.

     35,646      394,245  

Huntington Bancshares, Inc.

     374,382        4,193,078  

Independent Bank Corp.

     17,169        305,093  

Kearny Financial Corp.

     54,003        438,504  

KeyCorp

     266,418        3,335,553  

Lakeland Bancorp, Inc.

     51,641        807,665  

LCNB Corp.

     6,058        98,988  

Luther Burbank Corp.

     41,789        396,160  

Mercantile Bank Corp.

     11,609        355,003  

Midland States Bancorp, Inc.

     17,835        382,026  

National Bankshares, Inc.

     3,847        121,027  

New York Community Bancorp, Inc.(a)

     294,420        2,661,557  

Northfield Bancorp, Inc.

     36,729        432,668  

Northrim Bancorp, Inc.

     4,046        190,890  

Northwest Bancshares, Inc.

     99,148        1,192,751  

Norwood Financial Corp.

     6,315        185,787  

OceanFirst Financial Corp.

     45,941        848,990  

Pacific Premier Bancorp, Inc.

     53,270        1,279,545  

PacWest Bancorp

     57,124        555,817  

Parke Bancorp, Inc.

     8,654        153,868  

PCB Bancorp

     11,616        168,316  

Peoples Bancorp, Inc.

     23,032        593,074  

PNC Financial Services Group, Inc.

     88,392        11,234,623  

Premier Financial Corp.

     29,410        609,669  

Primis Financial Corp.

     17,345        167,032  

Provident Financial Services, Inc.

     55,502        1,064,528  

Regions Financial Corp.

     219,300        4,070,208  

S&T Bancorp, Inc.

     31,062        976,900  

Sandy Spring Bancorp, Inc.

     32,457        843,233  

Sierra Bancorp

     10,698        184,220  

Simmons First National Corp., Class A

     68,324        1,194,987  

Southside Bancshares, Inc.

     25,739        854,535  

Synovus Financial Corp.

     48,700        1,501,421  

Territorial Bancorp, Inc.

     4,951        95,604  

Truist Financial Corp.

     355,689        12,128,995  

TrustCo Bank Corp.

     14,756        471,307  

U.S. Bancorp

     527,216        19,006,137  

United Bankshares, Inc.

     45,902        1,615,750  

Univest Financial Corp.

     23,498        557,843  

Valley National Bancorp

     172,324        1,592,274  

Washington Trust Bancorp, Inc.

     14,578        505,274  

Webster Financial Corp.

     46,769        1,843,634  

WesBanco, Inc.

     33,211        1,019,578  

West Bancorp, Inc.

     12,067        220,464  
     

 

 

 
Total Banks

 

     137,523,884  
Biotechnology – 7.3%

 

AbbVie, Inc.

     436,055        69,494,085  

Gilead Sciences, Inc.

     332,269        27,568,359  
     

 

 

 
Total Biotechnology

 

     97,062,444  
Broadline Retail – 0.2%

 

Big Lots, Inc.(a)

     25,227        276,488  

Kohl’s Corp.

     70,743        1,665,290  

Nordstrom, Inc.

     78,183        1,272,037  
     

 

 

 
Total Broadline Retail

 

     3,213,815  

 

See Notes to Financial Statements.

 

34   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. High Dividend Fund (DHS)

March 31, 2023

 

 

 

Investments    Shares      Value  
Capital Markets – 4.7%

 

Artisan Partners Asset Management, Inc., Class A

     47,431      $ 1,516,843  

Bank of New York Mellon Corp.

     161,326        7,330,653  

Blue Owl Capital, Inc.(a)

     182,177        2,018,521  

Bridge Investment Group Holdings, Inc., Class A

     25,202        285,539  

Carlyle Group, Inc.

     110,588        3,434,863  

Cohen & Steers, Inc.

     25,420        1,625,863  

Diamond Hill Investment Group, Inc.

     2,155        354,670  

Franklin Resources, Inc.

     142,736        3,845,308  

GCM Grosvenor, Inc., Class A

     32,134        250,966  

Moelis & Co., Class A

     38,887        1,494,816  

Morgan Stanley

     312,027        27,395,971  

Northern Trust Corp.

     46,376        4,087,117  

T. Rowe Price Group, Inc.

     53,114        5,996,571  

Victory Capital Holdings, Inc., Class A

     46,965        1,374,666  

Virtu Financial, Inc., Class A

     60,046        1,134,869  

Virtus Investment Partners, Inc.

     5,240        997,644  
     

 

 

 
Total Capital Markets

 

     63,144,880  
Chemicals – 1.5%

 

Chemours Co.

     53,152        1,591,371  

Dow, Inc.

     214,486        11,758,123  

Eastman Chemical Co.

     32,751        2,762,219  

Kronos Worldwide, Inc.

     85,362        786,184  

Mativ Holdings, Inc.

     41,853        898,584  

Scotts Miracle-Gro Co.(a)

     29,814        2,079,228  
     

 

 

 
Total Chemicals

 

     19,875,709  
Commercial Services & Supplies – 0.4%

 

ACCO Brands Corp.

     72,944        388,062  

CompX International, Inc.

     7,508        135,745  

Deluxe Corp.

     33,815        541,040  

Ennis, Inc.

     17,164        361,989  

HNI Corp.

     31,610        880,023  

Kimball International, Inc., Class B

     27,543        341,533  

MillerKnoll, Inc.

     60,758        1,242,501  

NL Industries, Inc.

     29,021        175,867  

Pitney Bowes, Inc.

     127,610        496,403  

Steelcase, Inc., Class A

     78,915        664,464  
     

 

 

 
Total Commercial Services & Supplies

 

     5,227,627  
Communications Equipment – 3.9%

 

Cisco Systems, Inc.

     1,001,204        52,337,939  

Comtech Telecommunications Corp.

     21,562        269,094  
     

 

 

 
Total Communications Equipment

 

     52,607,033  
Consumer Finance – 0.6%

 

Ally Financial, Inc.

     108,686        2,770,406  

Navient Corp.

     77,838        1,244,630  

OneMain Holdings, Inc.

     84,990        3,151,429  

Regional Management Corp.

     6,804        177,516  
     

 

 

 
Total Consumer Finance

 

     7,343,981  
Consumer Staples Distribution & Retail – 0.6%

 

Natural Grocers by Vitamin Cottage, Inc.

     16,230        190,702  

Village Super Market, Inc., Class A

     7,945      181,782  

Walgreens Boots Alliance, Inc.

     223,449        7,726,866  
     

 

 

 
Total Consumer Staples Distribution & Retail

 

     8,099,350  
Containers & Packaging – 1.0%

 

Greif, Inc., Class B

     16,110        1,232,737  

International Paper Co.

     115,271        4,156,672  

Packaging Corp. of America

     32,359        4,492,400  

Pactiv Evergreen, Inc.

     101,716        813,728  

Sonoco Products Co.

     39,488        2,408,768  
     

 

 

 
Total Containers & Packaging

 

     13,104,305  
Distributors – 0.0%

 

Weyco Group, Inc.

     5,660        143,198  
Diversified Consumer Services – 0.1%

 

Strategic Education, Inc.

     14,475        1,300,289  
Diversified REITs – 0.2%

 

Alexander & Baldwin, Inc.

     8,283        156,632  

Alpine Income Property Trust, Inc.

     2,399        40,375  

American Assets Trust, Inc.

     5,449        101,297  

Armada Hoffler Properties, Inc.

     8,987        106,136  

Broadstone Net Lease, Inc.

     9,312        158,397  

CTO Realty Growth, Inc.

     3,253        56,147  

Essential Properties Realty Trust, Inc.

     11,807        293,404  

Gladstone Commercial Corp.

     5,659        71,473  

NexPoint Diversified Real Estate Trust(a)

     4,360        45,257  

One Liberty Properties, Inc.

     3,793        86,974  

Safehold, Inc.

     1,611        47,321  

W.P. Carey, Inc.

     18,592        1,439,950  
     

 

 

 
Total Diversified REITs

 

     2,603,363  
Diversified Telecommunication Services – 3.4%

 

AT&T, Inc.

     2,242,181        43,161,984  

Cogent Communications Holdings, Inc.

     36,561        2,329,667  
     

 

 

 
Total Diversified Telecommunication Services

 

     45,491,651  
Electric Utilities – 8.8%

 

ALLETE, Inc.

     24,763        1,593,994  

Alliant Energy Corp.

     58,073        3,101,098  

American Electric Power Co., Inc.

     147,291        13,402,008  

Avangrid, Inc.

     102,305        4,079,923  

Duke Energy Corp.

     168,426        16,248,056  

Edison International

     98,826        6,976,127  

Entergy Corp.

     45,965        4,952,269  

Evergy, Inc.

     66,001        4,033,981  

Eversource Energy

     91,590        7,167,834  

Exelon Corp.

     186,918        7,829,995  

FirstEnergy Corp.

     188,505        7,551,510  

Hawaiian Electric Industries, Inc.

     40,157        1,542,029  

NRG Energy, Inc.

     62,484        2,142,576  

OGE Energy Corp.

     88,669        3,339,275  

Pinnacle West Capital Corp.

     37,113        2,940,834  

Portland General Electric Co.

     46,741        2,285,168  

PPL Corp.

     146,814        4,079,961  

Southern Co.

     356,568        24,810,002  
     

 

 

 
Total Electric Utilities

 

     118,076,640  

 

See Notes to Financial Statements.

 

WisdomTree Trust      35  


Schedule of Investments (continued)

WisdomTree U.S. High Dividend Fund (DHS)

March 31, 2023

 

 

 

Investments    Shares      Value  
Electrical Equipment – 0.0%

 

Powell Industries, Inc.

     8,740      $ 372,237  
Energy Equipment & Services – 0.1%

 

Archrock, Inc.

     115,166        1,125,172  

Solaris Oilfield Infrastructure, Inc., Class A

     25,300        216,062  
     

 

 

 
Total Energy Equipment & Services

 

     1,341,234  
Financial Services – 0.6%

 

Federal Agricultural Mortgage Corp., Class C

     7,445        991,599  

Jackson Financial, Inc., Class A

     51,541        1,928,149  

Radian Group, Inc.

     100,643        2,224,210  

Star Holdings*

     1,540        26,781  

TFS Financial Corp.

     182,132        2,300,327  

UWM Holdings Corp.(a)

     60,068        294,934  

Waterstone Financial, Inc.

     17,644        266,954  
     

 

 

 
Total Financial Services

 

     8,032,954  
Food Products – 1.8%

 

Alico, Inc.

     5,589        135,254  

Cal-Maine Foods, Inc.

     33,205        2,021,852  

Calavo Growers, Inc.

     14,178        407,901  

Conagra Brands, Inc.

     104,229        3,914,841  

Kellogg Co.

     94,454        6,324,640  

Kraft Heinz Co.

     281,413        10,882,241  
     

 

 

 
Total Food Products

 

     23,686,729  
Gas Utilities – 0.7%

 

New Jersey Resources Corp.

     41,657        2,216,152  

Northwest Natural Holding Co.

     27,001        1,284,168  

RGC Resources, Inc.

     3,690        85,571  

Southwest Gas Holdings, Inc.

     25,004        1,561,500  

Spire, Inc.

     25,331        1,776,716  

UGI Corp.

     62,723        2,180,252  
     

 

 

 
Total Gas Utilities

 

     9,104,359  
Health Care Providers & Services – 0.1%

 

National HealthCare Corp.

     11,171        648,700  

Patterson Cos., Inc.

     45,890        1,228,475  
     

 

 

 
Total Health Care Providers & Services

 

     1,877,175  
Health Care REITs – 0.6%

 

CareTrust REIT, Inc.

     11,026        215,889  

Community Healthcare Trust, Inc.

     2,754        100,796  

Diversified Healthcare Trust(a)

     34,549        46,641  

Global Medical REIT, Inc.

     8,186        74,574  

Healthpeak Properties, Inc.

     43,743        961,034  

LTC Properties, Inc.

     4,595        161,422  

National Health Investors, Inc.

     3,782        195,076  

Omega Healthcare Investors, Inc.

     22,345        612,476  

Physicians Realty Trust

     19,816        295,853  

Sabra Health Care REIT, Inc.

     19,935        229,253  

Universal Health Realty Income Trust

     1,612        77,553  

Ventas, Inc.

     35,062        1,519,938  

Welltower, Inc.

     40,952        2,935,849  
     

 

 

 
Total Health Care REITs

 

     7,426,354  
Hotel & Resort REITs – 0.0%

 

Apple Hospitality REIT, Inc.

     20,511      318,331  

Service Properties Trust

     15,772        157,089  
     

 

 

 
Total Hotel & Resort REITs

 

     475,420  
Hotels, Restaurants & Leisure – 0.7%

 

Cracker Barrel Old Country Store, Inc.

     15,124        1,718,086  

Darden Restaurants, Inc.

     38,494        5,972,729  

Travel & Leisure Co.

     40,069        1,570,705  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     9,261,520  
Household Durables – 0.3%

 

Ethan Allen Interiors, Inc.

     22,207        609,804  

Leggett & Platt, Inc.

     59,216        1,887,806  

MDC Holdings, Inc.

     49,653        1,930,012  
     

 

 

 
Total Household Durables

 

     4,427,622  
Household Products – 0.7%

 

Energizer Holdings, Inc.

     37,336        1,295,559  

Kimberly-Clark Corp.

     63,448        8,515,991  
     

 

 

 
Total Household Products

 

     9,811,550  
Independent Power & Renewable Electricity Producers – 0.1%

 

Clearway Energy, Inc., Class A

     27,423        823,513  
Industrial Conglomerates – 1.1%

 

3M Co.

     145,228        15,264,915  
Industrial REITs – 0.1%

 

EastGroup Properties, Inc.

     3,896        644,087  

Innovative Industrial Properties, Inc.

     2,372        180,248  

LXP Industrial Trust

     29,741        306,630  

Plymouth Industrial REIT, Inc.

     4,444        93,368  

STAG Industrial, Inc.

     15,260        516,093  
     

 

 

 
Total Industrial REITs

 

     1,740,426  
Insurance – 2.0%

 

CNA Financial Corp.

     73,462        2,867,222  

Donegal Group, Inc., Class A

     23,323        356,375  

Fidelity National Financial, Inc.

     89,117        3,112,857  

First American Financial Corp.

     38,496        2,142,687  

Horace Mann Educators Corp.

     29,429        985,283  

Mercury General Corp.

     33,832        1,073,827  

Old Republic International Corp.

     126,676        3,163,100  

Prudential Financial, Inc.

     93,391        7,727,171  

Safety Insurance Group, Inc.

     11,459        853,925  

Stewart Information Services Corp.

     21,145        853,201  

Universal Insurance Holdings, Inc.

     22,932        417,821  

Unum Group

     69,030        2,730,827  
     

 

 

 
Total Insurance

 

     26,284,296  
IT Services – 2.1%

 

International Business Machines Corp.

     215,644        28,268,772  
Leisure Products – 0.3%

 

Hasbro, Inc.

     45,375        2,436,184  

Marine Products Corp.

     27,665        364,901  

Smith & Wesson Brands, Inc.

     35,167        432,906  

Sturm Ruger & Co., Inc.

     12,277        705,191  
     

 

 

 
Total Leisure Products

 

     3,939,182  

 

See Notes to Financial Statements.

 

36   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. High Dividend Fund (DHS)

March 31, 2023

 

 

 

Investments    Shares      Value  
Machinery – 0.1%

 

Hyster-Yale Materials Handling, Inc.

     9,127      $ 455,346  

Trinity Industries, Inc.

     40,992        998,565  
     

 

 

 
Total Machinery

 

     1,453,911  
Media – 1.0%

 

Interpublic Group of Cos., Inc.

     95,293        3,548,711  

Omnicom Group, Inc.

     48,859        4,609,358  

Paramount Global, Class B

     200,396        4,470,835  

Sinclair Broadcast Group, Inc., Class A(a)

     37,797        648,597  
     

 

 

 
Total Media

 

     13,277,501  
Metals & Mining – 0.2%

 

Kaiser Aluminum Corp.

     12,673        945,786  

Ramaco Resources, Inc.(a)

     34,129        300,676  

SunCoke Energy, Inc.

     66,186        594,350  

Tredegar Corp.

     25,229        230,341  
     

 

 

 
Total Metals & Mining

 

     2,071,153  
Multi-Utilities – 3.8%

 

Avista Corp.

     36,352        1,543,142  

Black Hills Corp.

     24,495        1,545,634  

CMS Energy Corp.

     59,107        3,627,988  

Consolidated Edison, Inc.

     97,007        9,280,660  

Dominion Energy, Inc.

     209,082        11,689,774  

DTE Energy Co.

     57,193        6,264,921  

NiSource, Inc.

     105,184        2,940,945  

NorthWestern Corp.

     27,559        1,594,564  

Public Service Enterprise Group, Inc.

     108,798        6,794,435  

WEC Energy Group, Inc.

     58,934        5,586,354  
     

 

 

 
Total Multi-Utilities

 

     50,868,417  
Office REITs – 0.1%

 

Corporate Office Properties Trust

     11,229        266,240  

Cousins Properties, Inc.

     13,266        283,627  

Douglas Emmett, Inc.

     16,622        204,949  

Easterly Government Properties, Inc.

     8,578        117,862  

Highwoods Properties, Inc.

     4,275        99,137  

Hudson Pacific Properties, Inc.

     13,244        88,073  

JBG SMITH Properties

     4,953        74,592  

Kilroy Realty Corp.

     10,298        333,655  

Orion Office REIT, Inc.

     8,747        58,605  

Paramount Group, Inc.

     7,811        35,618  

Piedmont Office Realty Trust, Inc., Class A

     17,304        126,319  

Postal Realty Trust, Inc., Class A(a)

     3,288        50,044  

SL Green Realty Corp.

     6,733        158,360  
     

 

 

 
Total Office REITs

 

     1,897,081  
Oil, Gas & Consumable Fuels – 19.0%

 

Antero Midstream Corp.

     294,178        3,085,927  

Arch Resources, Inc.

     14,966        1,967,430  

Berry Corp.

     68,542        538,055  

Chesapeake Energy Corp.(a)

     112,470        8,552,219  

Chevron Corp.

     403,397        65,818,254  

Chord Energy Corp.

     35,339        4,756,629  

Civitas Resources, Inc.

     68,793        4,701,314  

CONSOL Energy, Inc.

     27,617        1,609,243  

Coterra Energy, Inc.

     453,627        11,132,007  

Crescent Energy Co., Class A(a)

     36,913      417,486  

CVR Energy, Inc.

     63,616        2,085,332  

Devon Energy Corp.

     287,932        14,572,238  

Diamondback Energy, Inc.

     63,511        8,584,782  

DTE Midstream LLC

     36,278        1,791,045  

Equitrans Midstream Corp.

     276,663        1,599,112  

Evolution Petroleum Corp.

     25,719        162,287  

Exxon Mobil Corp.

     667,345        73,181,053  

Kinetik Holdings, Inc.(a)

     32,753        1,025,169  

Northern Oil & Gas, Inc.(a)

     39,326        1,193,544  

Phillips 66

     98,933        10,029,828  

Pioneer Natural Resources Co.

     126,280        25,791,427  

Riley Exploration Permian, Inc.

     17,402        662,320  

Sitio Royalties Corp., Class A

     60,114        1,358,576  

Williams Cos., Inc.

     336,453        10,046,487  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     254,661,764  
Personal Care Products – 0.2%

 

Medifast, Inc.

     8,838        916,235  

Nu Skin Enterprises, Inc., Class A

     30,986        1,218,060  
     

 

 

 
Total Personal Care Products

 

     2,134,295  
Pharmaceuticals – 4.7%

 

Organon & Co.

     114,418        2,691,111  

Pfizer, Inc.

     1,393,736        56,864,429  

Phibro Animal Health Corp., Class A

     20,539        314,658  

Viatris, Inc.

     347,921        3,347,000  
     

 

 

 
Total Pharmaceuticals

 

     63,217,198  
Real Estate Management & Development – 0.0%

 

Douglas Elliman, Inc.

     9,068        28,202  

Kennedy-Wilson Holdings, Inc.

     13,543        224,678  

RE/MAX Holdings, Inc., Class A

     3,277        61,477  

RMR Group, Inc., Class A

     2,539        66,623  
     

 

 

 
Total Real Estate Management & Development

 

     380,980  
Residential REITs – 0.6%

 

Apartment Income REIT Corp.

     9,721        348,109  

AvalonBay Communities, Inc.

     12,534        2,106,464  

BRT Apartments Corp.

     2,014        39,716  

Centerspace

     1,915        104,617  

Elme Communities

     5,179        92,497  

Equity Residential

     32,748        1,964,880  

Essex Property Trust, Inc.

     5,786        1,210,084  

Independence Realty Trust, Inc.

     20,775        333,023  

NexPoint Residential Trust, Inc.

     2,582        112,756  

UDR, Inc.

     28,940        1,188,276  

UMH Properties, Inc.

     6,063        89,672  
     

 

 

 
Total Residential REITs

 

     7,590,094  
Retail REITs – 1.8%

 

Acadia Realty Trust

     12,013        167,581  

Agree Realty Corp.

     7,373        505,861  

Alexander’s, Inc.

     412        79,825  

Brixmor Property Group, Inc.

     31,305        673,684  

CBL & Associates Properties, Inc.

     2,714        69,587  

Federal Realty Investment Trust

     7,419        733,220  

Getty Realty Corp.

     8,126        292,780  

 

See Notes to Financial Statements.

 

WisdomTree Trust      37  


Schedule of Investments (continued)

WisdomTree U.S. High Dividend Fund (DHS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Kimco Realty Corp.

     53,797      $ 1,050,655  

Kite Realty Group Trust

     18,015        376,874  

Macerich Co.

     13,536        143,482  

National Retail Properties, Inc.

     19,435        858,055  

NETSTREIT Corp.

     6,761        123,591  

Phillips Edison & Co., Inc.

     9,926        323,786  

Realty Income Corp.

     60,949        3,859,291  

Regency Centers Corp.

     15,451        945,292  

Retail Opportunity Investments Corp.

     17,760        247,930  

RPT Realty

     4,844        46,066  

Saul Centers, Inc.

     2,749        107,211  

Simon Property Group, Inc.

     105,152        11,773,869  

SITE Centers Corp.

     22,442        275,588  

Spirit Realty Capital, Inc.

     14,845        591,425  

Tanger Factory Outlet Centers, Inc.

     9,879        193,925  

Urban Edge Properties

     13,213        198,988  

Urstadt Biddle Properties, Inc., Class A

     4,073        71,563  

Whitestone REIT

     6,362        58,530  
     

 

 

 
Total Retail REITs

 

     23,768,659  
Semiconductors & Semiconductor Equipment – 0.0%

 

NVE Corp.

     3,834        318,184  
Specialized REITs – 1.7%

 

Crown Castle, Inc.

     57,978        7,759,775  

CubeSmart

     18,749        866,579  

Digital Realty Trust, Inc.

     25,729        2,529,418  

EPR Properties

     6,864        261,518  

Extra Space Storage, Inc.

     11,671        1,901,556  

Four Corners Property Trust, Inc.

     10,308        276,873  

Gaming & Leisure Properties, Inc.

     24,827        1,292,494  

Iron Mountain, Inc.

     25,563        1,352,538  

Lamar Advertising Co., Class A

     7,129        712,116  

Life Storage, Inc.

     7,780        1,019,880  

National Storage Affiliates Trust

     7,715        322,333  

Outfront Media, Inc.

     15,420        250,267  

PotlatchDeltic Corp.

     6,823        337,738  

Rayonier, Inc.

     11,426        380,029  

Uniti Group, Inc.

     13,441        47,716  

VICI Properties, Inc.

     85,550        2,790,641  
     

 

 

 
Total Specialized REITs

 

     22,101,471  
Specialty Retail – 1.1%

 

Aaron’s Co., Inc.

     23,087        223,021  

Advance Auto Parts, Inc.

     18,387        2,236,043  

Best Buy Co., Inc.

     59,034        4,620,591  

Big 5 Sporting Goods Corp.

     18,099        139,181  

Buckle, Inc.

     32,509        1,160,246  

Camping World Holdings, Inc., Class A

     36,252        756,579  

Foot Locker, Inc.

     42,514        1,687,381  

Gap, Inc.

     130,256        1,307,770  

Guess?, Inc.

     41,179        801,344  

Haverty Furniture Cos., Inc.

     12,453        397,375  

PetMed Express, Inc.(a)

     17,304        281,017  

Upbound Group, Inc.

     45,147        1,106,553  
     

 

 

 
Total Specialty Retail

 

     14,717,101  
Technology Hardware, Storage & Peripherals – 0.6%

 

HP, Inc.

     214,432      6,293,579  

Xerox Holdings Corp.

     101,629        1,565,087  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     7,858,666  
Textiles, Apparel & Luxury Goods – 0.3%

 

Carter’s, Inc.(a)

     21,535        1,548,797  

Kontoor Brands, Inc.

     32,828        1,588,547  

Movado Group, Inc.

     12,236        352,030  

Wolverine World Wide, Inc.

     63,744        1,086,835  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     4,576,209  
Tobacco – 8.3%

 

Altria Group, Inc.

     1,128,689        50,362,103  

Philip Morris International, Inc.

     598,918        58,244,776  

Universal Corp.

     17,972        950,539  

Vector Group Ltd.

     113,742        1,366,041  
     

 

 

 
Total Tobacco

 

     110,923,459  
Trading Companies & Distributors – 0.5%

 

MSC Industrial Direct Co., Inc., Class A

     24,734        2,077,656  

Watsco, Inc.(a)

     12,548        3,992,272  
     

 

 

 
Total Trading Companies & Distributors

 

     6,069,928  
Wireless Telecommunication Services – 0.1%

 

Telephone & Data Systems, Inc.

     83,882        881,600  
Total United States

 

     1,331,417,175  
Puerto Rico – 0.1%

 

Banks – 0.1%

 

First Bancorp

     110,142        1,257,821  
TOTAL COMMON STOCKS
(Cost: $1,331,444,377)

 

     1,332,674,996  
EXCHANGE-TRADED FUND – 0.0%

 

United States – 0.0%

 

WisdomTree U.S. Total Dividend Fund(a)(b)
(Cost: $63,239)
     1,156        70,042  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.2%

 

United States – 0.2%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(c)

     
(Cost: $2,764,365)      2,764,365        2,764,365  
TOTAL INVESTMENTS IN SECURITIES – 99.9%
(Cost: $1,334,271,981)

 

     1,335,509,403  

Other Assets less Liabilities – 0.1%

 

     1,590,768  
     

 

 

 
NET ASSETS – 100.0%

 

   $ 1,337,100,171  
* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $26,538,438. The Fund also had securities on loan having a total market value of $356,609 that were sold and pending settlement. The total market value of the collateral held by the Fund was $27,189,369. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $24,425,004.

 

(b) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

See Notes to Financial Statements.

 

38   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree U.S. High Dividend Fund (DHS)

March 31, 2023

 

INVESTMENT IN AFFILIATES               

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate   Value at
3/31/2022
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2023
    Dividend
Income
 

WisdomTree U.S. Total Dividend Fund

  $ 1,605,865     $ 15,481,202     $ 16,580,482     $ (405,453   $ (31,090   $ 70,042     $ 58,093  

 

FAIR VALUATION SUMMARY               

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

        

Investments in Securities

  

Common Stocks

   $ 1,332,674,996      $      $      $ 1,332,674,996  

Exchange-Traded Fund

     70,042                      70,042  

Investment of Cash Collateral for Securities Loaned

            2,764,365               2,764,365  

Total Investments in Securities

   $ 1,332,745,038      $ 2,764,365      $      $ 1,335,509,403  

 

See Notes to Financial Statements.

 

WisdomTree Trust      39  


Schedule of Investments

WisdomTree U.S. LargeCap Dividend Fund (DLN)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.8%

 

United States – 99.8%

 

Aerospace & Defense – 1.8%

 

General Dynamics Corp.

     33,228      $ 7,582,962  

HEICO Corp.

     4,599        786,613  

L3Harris Technologies, Inc.

     21,577        4,234,270  

Lockheed Martin Corp.

     54,415        25,723,603  

Northrop Grumman Corp.

     11,662        5,384,579  

Raytheon Technologies Corp.

     182,541        17,876,240  
     

 

 

 
Total Aerospace & Defense

 

     61,588,267  
Air Freight & Logistics – 1.5%

 

Expeditors International of Washington, Inc.

     15,221        1,676,137  

FedEx Corp.

     38,754        8,854,901  

United Parcel Service, Inc., Class B

     210,103        40,757,881  
     

 

 

 
Total Air Freight & Logistics

 

     51,288,919  
Automobiles – 0.4%

 

Ford Motor Co.

     1,001,575        12,619,845  

General Motors Co.

     78,479        2,878,610  
     

 

 

 
Total Automobiles

 

     15,498,455  
Banks – 6.1%

 

Bank of America Corp.

     1,154,391        33,015,583  

Citigroup, Inc.

     489,860        22,969,536  

Citizens Financial Group, Inc.

     117,110        3,556,631  

Fifth Third Bancorp

     152,899        4,073,229  

First Republic Bank(a)^

     9,726        136,067  

Huntington Bancshares, Inc.

     347,656        3,893,747  

JPMorgan Chase & Co.

     510,336        66,501,884  

KeyCorp

     244,895        3,066,085  

M&T Bank Corp.

     29,695        3,550,631  

PNC Financial Services Group, Inc.

     89,242        11,342,658  

Regions Financial Corp.

     202,340        3,755,430  

Truist Financial Corp.

     373,068        12,721,619  

U.S. Bancorp

     551,429        19,879,016  

Wells Fargo & Co.

     599,650        22,414,917  
     

 

 

 
Total Banks

 

     210,877,033  
Beverages – 3.8%

 

Brown-Forman Corp., Class B

     30,836        1,981,830  

Coca-Cola Co.

     1,023,843        63,508,981  

Constellation Brands, Inc., Class A

     13,783        3,113,442  

Keurig Dr. Pepper, Inc.

     254,529        8,979,783  

PepsiCo, Inc.

     295,330        53,838,659  
     

 

 

 
Total Beverages

 

     131,422,695  
Biotechnology – 4.2%

 

AbbVie, Inc.

     546,568        87,106,542  

Amgen, Inc.

     123,882        29,948,474  

Gilead Sciences, Inc.

     356,363        29,567,438  
     

 

 

 
Total Biotechnology

 

     146,622,454  
Broadline Retail – 0.1%

 

eBay, Inc.

     64,355        2,855,431  
Building Products – 0.1%

 

Carrier Global Corp.

     61,314        2,805,116  
Capital Markets – 3.6%

 

Ameriprise Financial, Inc.

     14,043      4,304,180  

Bank of New York Mellon Corp.

     157,372        7,150,984  

BlackRock, Inc.

     22,910        15,329,539  

Charles Schwab Corp.

     109,975        5,760,490  

CME Group, Inc.

     45,655        8,743,846  

FactSet Research Systems, Inc.

     1,758        729,728  

Goldman Sachs Group, Inc.

     52,072        17,033,272  

Intercontinental Exchange, Inc.

     45,410        4,735,809  

LPL Financial Holdings, Inc.

     3,367        681,481  

Moody’s Corp.

     12,051        3,687,847  

Morgan Stanley

     332,953        29,233,273  

MSCI, Inc.

     4,401        2,463,196  

Nasdaq, Inc.

     51,963        2,840,817  

Northern Trust Corp.

     39,047        3,441,212  

Raymond James Financial, Inc.

     17,127        1,597,435  

S&P Global, Inc.

     17,653        6,086,225  

State Street Corp.

     69,686        5,274,533  

T. Rowe Price Group, Inc.

     50,665        5,720,079  
     

 

 

 
Total Capital Markets

 

     124,813,946  
Chemicals – 1.2%

 

Air Products & Chemicals, Inc.

     25,844        7,422,655  

Albemarle Corp.

     5,472        1,209,531  

CF Industries Holdings, Inc.

     23,898        1,732,366  

Corteva, Inc.

     44,302        2,671,853  

Dow, Inc.

     220,739        12,100,912  

DuPont de Nemours, Inc.

     55,318        3,970,173  

Ecolab, Inc.

     23,040        3,813,811  

FMC Corp.

     10,499        1,282,243  

Mosaic Co.

     22,652        1,039,274  

PPG Industries, Inc.

     25,540        3,411,633  

Sherwin-Williams Co.

     14,588        3,278,945  
     

 

 

 
Total Chemicals

 

     41,933,396  
Commercial Services & Supplies – 0.5%

 

Cintas Corp.

     8,740        4,043,823  

Republic Services, Inc.

     29,502        3,989,260  

Rollins, Inc.

     49,618        1,862,164  

Waste Management, Inc.

     53,929        8,799,595  
     

 

 

 
Total Commercial Services & Supplies

 

     18,694,842  
Communications Equipment – 1.8%

 

Cisco Systems, Inc.

     1,080,436        56,479,792  

Motorola Solutions, Inc.

     13,264        3,795,228  

Ubiquiti, Inc.(a)

     2,972        807,463  
     

 

 

 
Total Communications Equipment

 

     61,082,483  
Construction & Engineering – 0.0%

 

Quanta Services, Inc.

     6,446        1,074,161  
Construction Materials – 0.1%

 

Martin Marietta Materials, Inc.

     2,823        1,002,335  

Vulcan Materials Co.

     6,313        1,083,058  
     

 

 

 
Total Construction Materials

 

     2,085,393  
Consumer Finance – 0.6%

 

American Express Co.

     57,330        9,456,584  

 

See Notes to Financial Statements.

 

40   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. LargeCap Dividend Fund (DLN)

March 31, 2023

 

 

 

Investments    Shares      Value  

Capital One Financial Corp.

     53,761      $ 5,169,658  

Discover Financial Services

     35,075        3,466,813  

Synchrony Financial

     63,481        1,846,027  
     

 

 

 
Total Consumer Finance

 

     19,939,082  
Consumer Staples Distribution & Retail – 2.4%

 

Costco Wholesale Corp.

     27,504        13,665,913  

Dollar General Corp.

     11,803        2,484,059  

Kroger Co.

     92,708        4,576,994  

Sysco Corp.

     97,058        7,495,789  

Target Corp.

     72,823        12,061,674  

Walgreens Boots Alliance, Inc.

     234,816        8,119,937  

Walmart, Inc.

     231,355        34,113,295  
     

 

 

 
Total Consumer Staples Distribution & Retail

 

     82,517,661  
Containers & Packaging – 0.1%

 

Avery Dennison Corp.

     9,643        1,725,422  
Distributors – 0.1%

 

Genuine Parts Co.

     24,260        4,058,941  
Diversified REITs – 0.1%

 

W.P. Carey, Inc.

     63,529        4,920,321  
Diversified Telecommunication Services – 1.3%

 

AT&T, Inc.

     2,407,430        46,343,028  
Electric Utilities – 3.9%

 

American Electric Power Co., Inc.

     154,020        14,014,280  

Avangrid, Inc.(a)

     85,735        3,419,112  

Constellation Energy Corp.

     15,668        1,229,938  

Duke Energy Corp.

     177,791        17,151,498  

Edison International

     94,451        6,667,296  

Entergy Corp.

     43,149        4,648,873  

Eversource Energy

     87,635        6,858,315  

Exelon Corp.

     183,278        7,677,515  

FirstEnergy Corp.

     185,878        7,446,273  

NextEra Energy, Inc.

     337,965        26,050,342  

PPL Corp.

     124,556        3,461,411  

Southern Co.

     375,584        26,133,135  

Xcel Energy, Inc.

     130,361        8,791,546  
     

 

 

 
Total Electric Utilities

 

     133,549,534  
Electrical Equipment – 0.3%

 

AMETEK, Inc.

     12,267        1,782,763  

Emerson Electric Co.

     77,881        6,786,550  

Rockwell Automation, Inc.

     11,337        3,326,843  
     

 

 

 
Total Electrical Equipment

 

     11,896,156  
Electronic Equipment, Instruments & Components – 0.3%

 

Amphenol Corp., Class A

     52,727        4,308,850  

CDW Corp.

     10,209        1,989,632  

Corning, Inc.

     155,731        5,494,190  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     11,792,672  
Energy Equipment & Services – 0.2%

 

Baker Hughes Co.

     165,894        4,787,701  

Halliburton Co.

     63,742        2,016,797  
     

 

 

 
Total Energy Equipment & Services

 

     6,804,498  
Entertainment – 0.1%

 

Activision Blizzard, Inc.

     36,506      3,124,548  

Electronic Arts, Inc.

     14,493        1,745,682  
     

 

 

 
Total Entertainment

 

     4,870,230  
Financial Services – 1.6%

 

Apollo Global Management, Inc.

     79,479        5,019,894  

Fidelity National Information Services, Inc.

     89,000        4,835,370  

Global Payments, Inc.

     17,230        1,813,285  

MasterCard, Inc., Class A

     44,379        16,127,772  

Visa, Inc., Class A

     117,556        26,504,176  
     

 

 

 
Total Financial Services

 

     54,300,497  
Food Products – 1.9%

 

Archer-Daniels-Midland Co.

     63,522        5,060,163  

Campbell Soup Co.

     45,819        2,519,129  

Conagra Brands, Inc.

     92,174        3,462,055  

General Mills, Inc.

     126,930        10,847,438  

Hershey Co.

     22,535        5,733,129  

Hormel Foods Corp.

     70,659        2,817,881  

J.M. Smucker Co.

     15,285        2,405,401  

Kellogg Co.

     90,832        6,082,111  

Kraft Heinz Co.

     280,199        10,835,295  

McCormick & Co., Inc., Non-Voting Shares

     28,983        2,411,675  

Mondelez International, Inc., Class A

     177,521        12,376,764  

Tyson Foods, Inc., Class A

     49,907        2,960,483  
     

 

 

 
Total Food Products

 

     67,511,524  
Gas Utilities – 0.1%

 

Atmos Energy Corp.

     19,761        2,220,346  
Ground Transportation – 1.3%

 

CSX Corp.

     229,861        6,882,038  

JB Hunt Transport Services, Inc.

     7,208        1,264,716  

Norfolk Southern Corp.

     39,252        8,321,424  

Old Dominion Freight Line, Inc.

     4,949        1,686,817  

Union Pacific Corp.

     130,516        26,267,650  
     

 

 

 
Total Ground Transportation

 

     44,422,645  
Health Care Equipment & Supplies – 1.2%

 

Abbott Laboratories

     262,941        26,625,406  

Becton Dickinson & Co.

     24,046        5,952,347  

ResMed, Inc.

     7,844        1,717,757  

Stryker Corp.

     25,954        7,409,088  

Zimmer Biomet Holdings, Inc.

     9,589        1,238,899  
     

 

 

 
Total Health Care Equipment & Supplies

 

     42,943,497  
Health Care Providers & Services – 2.9%

 

AmerisourceBergen Corp.

     16,090        2,576,170  

Cardinal Health, Inc.

     36,297        2,740,423  

Cigna Group

     35,397        9,044,995  

CVS Health Corp.

     242,535        18,022,776  

Elevance Health, Inc.

     20,270        9,320,349  

HCA Healthcare, Inc.

     14,830        3,910,374  

Humana, Inc.

     6,165        2,992,861  

Laboratory Corp. of America Holdings

     5,861        1,344,631  

McKesson Corp.

     6,335        2,255,577  

 

See Notes to Financial Statements.

 

WisdomTree Trust      41  


Schedule of Investments (continued)

WisdomTree U.S. LargeCap Dividend Fund (DLN)

March 31, 2023

 

 

 

Investments    Shares      Value  

Quest Diagnostics, Inc.

     12,858      $ 1,819,150  

UnitedHealth Group, Inc.

     98,685        46,637,544  
     

 

 

 
Total Health Care Providers & Services

 

     100,664,850  
Health Care REITs – 0.3%

 

Ventas, Inc.

     90,872        3,939,301  

Welltower, Inc.

     93,464        6,700,434  
     

 

 

 
Total Health Care REITs

 

     10,639,735  
Hotels, Restaurants & Leisure – 2.0%

 

Darden Restaurants, Inc.

     35,521        5,511,438  

Hilton Worldwide Holdings, Inc.

     12,528        1,764,819  

Marriott International, Inc., Class A

     25,944        4,307,742  

McDonald’s Corp.

     140,673        39,333,578  

Starbucks Corp.

     131,919        13,736,725  

Yum! Brands, Inc.

     43,337        5,723,951  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     70,378,253  
Household Durables – 0.2%

 

D.R. Horton, Inc.

     23,899        2,334,693  

Lennar Corp., Class A

     28,595        3,005,621  
     

 

 

 
Total Household Durables

 

     5,340,314  
Household Products – 2.2%

 

Church & Dwight Co., Inc.

     19,624        1,734,958  

Clorox Co.

     22,525        3,564,356  

Colgate-Palmolive Co.

     166,325        12,499,324  

Kimberly-Clark Corp.

     65,598        8,804,563  

Procter & Gamble Co.

     332,354        49,417,716  
     

 

 

 
Total Household Products

 

     76,020,917  
Independent Power & Renewable Electricity Producers – 0.1%

 

AES Corp.

     81,106        1,953,033  
Industrial Conglomerates – 1.0%

 

3M Co.

     144,246        15,161,697  

General Electric Co.

     49,769        4,757,916  

Honeywell International, Inc.

     73,480        14,043,498  
     

 

 

 
Total Industrial Conglomerates

 

     33,963,111  
Industrial REITs – 0.5%

 

Prologis, Inc.

     146,895        18,328,089  
Insurance – 2.0%

 

Aflac, Inc.

     124,274        8,018,158  

Allstate Corp.

     39,342        4,359,487  

American International Group, Inc.

     131,958        6,645,405  

Arthur J. Gallagher & Co.

     15,172        2,902,555  

Brown & Brown, Inc.

     13,381        768,337  

Cincinnati Financial Corp.

     21,408        2,399,409  

Hartford Financial Services Group, Inc.

     60,062        4,185,721  

Marsh & McLennan Cos., Inc.

     59,198        9,859,427  

MetLife, Inc.

     130,268        7,547,728  

Principal Financial Group, Inc.

     58,786        4,368,976  

Progressive Corp.

     25,353        3,627,000  

Prudential Financial, Inc.

     96,192        7,958,926  

Travelers Cos., Inc.

     39,876        6,835,145  

W.R. Berkley Corp.

     6,255        389,436  
     

 

 

 
Total Insurance

 

     69,865,710  
IT Services – 1.0%

 

Cognizant Technology Solutions Corp., Class A

     53,843      3,280,654  

International Business Machines Corp.

     230,761        30,250,460  
     

 

 

 
Total IT Services

 

     33,531,114  
Life Sciences Tools & Services – 0.7%

 

Agilent Technologies, Inc.

     16,672        2,306,404  

Danaher Corp.

     33,112        8,345,549  

PerkinElmer, Inc.

     6,201        826,345  

Thermo Fisher Scientific, Inc.

     17,385        10,020,192  

West Pharmaceutical Services, Inc.

     3,808        1,319,358  
     

 

 

 
Total Life Sciences Tools & Services

 

     22,817,848  
Machinery – 2.0%

 

Caterpillar, Inc.

     91,862        21,021,700  

Cummins, Inc.

     22,027        5,261,810  

Deere & Co.

     18,335        7,570,155  

Dover Corp.

     15,049        2,286,545  

Fortive Corp.

     16,735        1,140,825  

IDEX Corp.

     6,190        1,430,076  

Illinois Tool Works, Inc.

     61,392        14,945,882  

Ingersoll Rand, Inc.

     15,415        896,845  

Otis Worldwide Corp.

     51,644        4,358,754  

PACCAR, Inc.

     62,513        4,575,951  

Parker-Hannifin Corp.

     13,704        4,606,051  

Westinghouse Air Brake Technologies Corp.

     8,569        865,983  

Xylem, Inc.

     10,533        1,102,805  
     

 

 

 
Total Machinery

 

     70,063,382  
Media – 1.1%

 

Comcast Corp., Class A

     759,799        28,803,980  

Fox Corp., Class A

     48,634        1,655,988  

Omnicom Group, Inc.

     43,169        4,072,563  

Sirius XM Holdings, Inc.(a)

     528,328        2,097,462  
     

 

 

 
Total Media

 

     36,629,993  
Metals & Mining – 0.3%

 

Freeport-McMoRan, Inc.

     122,442        5,009,102  

Nucor Corp.

     30,741        4,748,563  

Steel Dynamics, Inc.

     17,402        1,967,470  
     

 

 

 
Total Metals & Mining

 

     11,725,135  
Multi-Utilities – 1.7%

 

Ameren Corp.

     40,351        3,485,923  

CenterPoint Energy, Inc.

     126,122        3,715,554  

CMS Energy Corp.

     50,400        3,093,552  

Consolidated Edison, Inc.

     96,400        9,222,588  

Dominion Energy, Inc.

     215,036        12,022,663  

DTE Energy Co.

     54,135        5,929,948  

Public Service Enterprise Group, Inc.

     104,294        6,513,160  

Sempra Energy

     53,618        8,104,897  

WEC Energy Group, Inc.

     59,832        5,671,475  
     

 

 

 
Total Multi-Utilities

 

     57,759,760  
Office REITs – 0.1%

 

Alexandria Real Estate Equities, Inc.

     29,257        3,674,387  

 

See Notes to Financial Statements.

 

42   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. LargeCap Dividend Fund (DLN)

March 31, 2023

 

 

 

Investments    Shares      Value  
Oil, Gas & Consumable Fuels – 10.4%

 

Cheniere Energy, Inc.

     18,843      $ 2,969,657  

Chevron Corp.

     530,852        86,613,812  

ConocoPhillips

     182,940        18,149,477  

Coterra Energy, Inc.

     339,666        8,335,404  

Devon Energy Corp.

     280,172        14,179,505  

Diamondback Energy, Inc.

     63,085        8,527,199  

EOG Resources, Inc.

     122,116        13,998,157  

Exxon Mobil Corp.

     1,199,091        131,492,319  

Hess Corp.

     20,647        2,732,424  

Marathon Oil Corp.

     58,408        1,399,456  

Marathon Petroleum Corp.

     75,396        10,165,643  

Occidental Petroleum Corp.

     61,816        3,859,173  

Phillips 66

     99,160        10,052,841  

Pioneer Natural Resources Co.

     98,853        20,189,737  

Targa Resources Corp.

     23,004        1,678,142  

Texas Pacific Land Corp.

     467        794,376  

Valero Energy Corp.

     105,835        14,774,566  

Williams Cos., Inc.

     340,924        10,179,990  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     360,091,878  
Personal Care Products – 0.1%

 

Estee Lauder Cos., Inc., Class A

     15,431        3,803,124  
Pharmaceuticals – 7.2%

 

Bristol-Myers Squibb Co.

     486,491        33,718,691  

Eli Lilly & Co.

     84,992        29,187,953  

Johnson & Johnson

     380,049        58,907,595  

Merck & Co., Inc.

     574,179        61,086,904  

Pfizer, Inc.

     1,515,824        61,845,619  

Zoetis, Inc.

     23,284        3,875,389  
     

 

 

 
Total Pharmaceuticals

 

     248,622,151  
Professional Services – 0.8%

 

Automatic Data Processing, Inc.

     66,907        14,895,505  

Broadridge Financial Solutions, Inc.

     13,742        2,014,165  

Equifax, Inc.

     6,098        1,236,918  

Jacobs Solutions, Inc.

     5,642        662,992  

Paychex, Inc.

     77,548        8,886,225  

Verisk Analytics, Inc.

     7,847        1,505,526  
     

 

 

 
Total Professional Services

 

     29,201,331  
Residential REITs – 0.6%

 

AvalonBay Communities, Inc.

     30,105        5,059,446  

Equity Residential

     86,907        5,214,420  

Invitation Homes, Inc.

     97,916        3,057,917  

Mid-America Apartment Communities, Inc.

     32,101        4,848,535  

Sun Communities, Inc.

     17,619        2,482,165  
     

 

 

 
Total Residential REITs

 

     20,662,483  
Retail REITs – 0.7%

 

Realty Income Corp.

     171,180        10,839,117  

Simon Property Group, Inc.

     134,208        15,027,270  
     

 

 

 
Total Retail REITs

 

     25,866,387  
Semiconductors & Semiconductor Equipment – 4.6%

 

Analog Devices, Inc.

     53,112        10,474,749  

Applied Materials, Inc.

     48,425      5,948,043  

Broadcom, Inc.

     71,437        45,829,693  

KLA Corp.

     10,857        4,333,789  

Lam Research Corp.

     12,001        6,361,970  

Microchip Technology, Inc.

     52,193        4,372,729  

Micron Technology, Inc.

     56,186        3,390,263  

Monolithic Power Systems, Inc.

     2,701        1,351,958  

NVIDIA Corp.

     113,722        31,588,560  

QUALCOMM, Inc.

     155,581        19,849,024  

Texas Instruments, Inc.

     144,002        26,785,812  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     160,286,590  
Software – 4.7%

 

Intuit, Inc.

     13,095        5,838,144  

Microsoft Corp.

     463,198        133,539,984  

Oracle Corp.

     248,145        23,057,633  

Roper Technologies, Inc.

     4,993        2,200,365  
     

 

 

 
Total Software

 

     164,636,126  
Specialized REITs – 2.2%

 

American Tower Corp.

     72,405        14,795,238  

Crown Castle, Inc.

     108,529        14,525,521  

Digital Realty Trust, Inc.

     74,545        7,328,519  

Equinix, Inc.

     9,550        6,885,932  

Extra Space Storage, Inc.

     28,205        4,595,441  

Iron Mountain, Inc.

     76,139        4,028,514  

Public Storage

     41,328        12,486,842  

SBA Communications Corp.

     6,340        1,655,184  

VICI Properties, Inc.

     267,935        8,740,040  

Weyerhaeuser Co.

     95,401        2,874,432  
     

 

 

 
Total Specialized REITs

 

     77,915,663  
Specialty Retail – 2.1%

 

Best Buy Co., Inc.

     52,489        4,108,314  

Home Depot, Inc.

     138,395        40,843,133  

Lowe’s Cos., Inc.

     70,807        14,159,276  

Ross Stores, Inc.

     21,625        2,295,061  

TJX Cos., Inc.

     98,262        7,699,810  

Tractor Supply Co.

     10,296        2,419,972  
     

 

 

 
Total Specialty Retail

 

     71,525,566  
Technology Hardware, Storage & Peripherals – 4.3%

 

Apple, Inc.

     851,354        140,388,275  

Hewlett Packard Enterprise Co.

     229,736        3,659,694  

HP, Inc.

     205,777        6,039,555  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     150,087,524  
Textiles, Apparel & Luxury Goods – 0.3%

 

NIKE, Inc., Class B

     89,608        10,989,525  
Tobacco – 2.6%

 

Altria Group, Inc.

     718,082        32,040,819  

Philip Morris International, Inc.

     606,842        59,015,384  
     

 

 

 
Total Tobacco

 

     91,056,203  
Trading Companies & Distributors – 0.3%

 

Fastenal Co.

     119,586        6,450,469  

W.W. Grainger, Inc.

     5,005        3,447,494  
     

 

 

 
Total Trading Companies & Distributors

 

     9,897,963  

 

See Notes to Financial Statements.

 

WisdomTree Trust      43  


Schedule of Investments (concluded)

WisdomTree U.S. LargeCap Dividend Fund (DLN)

March 31, 2023

 

 

 

Investments    Shares      Value  
Water Utilities – 0.1%

 

American Water Works Co., Inc.

     18,880      $ 2,765,731  
TOTAL COMMON STOCKS
(Cost: $2,799,974,725)

 

     3,463,222,521  
EXCHANGE-TRADED FUND – 0.1%

 

United States – 0.1%

 

WisdomTree U.S. Total Dividend Fund(a)(b)
(Cost: $3,147,690)
     52,500        3,180,975  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.1%

 

United States – 0.1%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 4.84%(c)

     
(Cost: $4,334,043)      4,334,043        4,334,043  
TOTAL INVESTMENTS IN SECURITIES – 100.0%
(Cost: $2,807,456,458)

 

     3,470,737,539  

Other Assets less Liabilities – (0.0)%

 

     (329,936
     

 

 

 
NET ASSETS – 100.0%

 

   $ 3,470,407,603  

 

^ 

Subsequent to March 31, 2023, the California Department of Financial Protection and Innovation (“DFPI”) announced on May 1, 2023 that regulators have taken possession of First Republic Bank. The DFPI appointed the Federal Deposit Insurance Corporation (“FDIC”) as receiver of First Republic Bank. The FDIC has accepted a bid from JPMorgan Chase & Co. to assume all deposits, including all uninsured deposits, and substantially all assets of First Republic Bank.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $5,552,677. The Fund also had securities on loan having a total market value of $252 that were sold and pending settlement. The total market value of the collateral held by the Fund was $5,743,822. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $1,409,779.

 

(b) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

    

 

INVESTMENT IN AFFILIATES               

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate   Value at
3/31/2022
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2023
    Dividend
Income
 

WisdomTree U.S. Total Dividend Fund

  $ 1,685,016     $ 47,655,503     $ 44,981,876     $ (1,158,623   $ (19,045   $ 3,180,975     $ 138,286  

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

        

Investments in Securities

  

Common Stocks

   $ 3,463,222,521      $      $      $ 3,463,222,521  

Exchange-Traded Fund

     3,180,975                      3,180,975  

Investment of Cash Collateral for Securities Loaned

            4,334,043               4,334,043  

Total Investments in Securities

   $ 3,466,403,496      $ 4,334,043      $      $ 3,470,737,539  

 

See Notes to Financial Statements.

 

44   WisdomTree Trust


Schedule of Investments

WisdomTree U.S. LargeCap Fund (EPS)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.9%

 

United States – 99.9%

 

Aerospace & Defense – 1.2%

 

Axon Enterprise, Inc.*

     591      $ 132,886  

General Dynamics Corp.

     4,420        1,008,688  

HEICO Corp.

     949        162,317  

Howmet Aerospace, Inc.

     4,110        174,141  

L3Harris Technologies, Inc.

     3,505        687,821  

Lockheed Martin Corp.

     3,936        1,860,665  

Northrop Grumman Corp.

     2,313        1,067,959  

Raytheon Technologies Corp.

     22,114        2,165,624  

Textron, Inc.

     3,825        270,160  

TransDigm Group, Inc.

     520        383,266  
     

 

 

 
Total Aerospace & Defense

 

     7,913,527  
Air Freight & Logistics – 1.1%

 

C.H. Robinson Worldwide, Inc.

     3,413        339,150  

Expeditors International of Washington, Inc.

     4,532        499,064  

FedEx Corp.

     9,533        2,178,195  

United Parcel Service, Inc., Class B

     20,150        3,908,898  
     

 

 

 
Total Air Freight & Logistics

 

     6,925,307  
Automobile Components – 0.1%

 

BorgWarner, Inc.

     7,730        379,620  
Automobiles – 1.5%

 

Ford Motor Co.

     152,483        1,921,286  

General Motors Co.

     80,748        2,961,837  

Tesla, Inc.*

     22,762        4,722,204  
     

 

 

 
Total Automobiles

 

     9,605,327  
Banks – 5.3%

 

Bank of America Corp.

     237,346        6,788,096  

Citigroup, Inc.

     101,449        4,756,944  

Citizens Financial Group, Inc.

     16,521        501,743  

East West Bancorp, Inc.

     5,705        316,627  

Fifth Third Bancorp

     23,153        616,796  

First Citizens BancShares, Inc., Class A

     412        400,917  

First Republic Bank(a)^

     1,036        14,494  

Huntington Bancshares, Inc.

     45,476        509,331  

JPMorgan Chase & Co.

     86,098        11,219,430  

KeyCorp

     20,905        261,731  

M&T Bank Corp.

     3,186        380,950  

PNC Financial Services Group, Inc.

     11,944        1,518,082  

Regions Financial Corp.

     31,476        584,194  

Truist Financial Corp.

     43,830        1,494,603  

U.S. Bancorp

     45,736        1,648,783  

Wells Fargo & Co.

     109,600        4,096,848  
     

 

 

 
Total Banks

 

     35,109,569  
Beverages – 1.3%

 

Brown-Forman Corp., Class B

     4,131        265,499  

Coca-Cola Co.

     52,621        3,264,081  

Constellation Brands, Inc., Class A

     2,843        642,205  

Keurig Dr. Pepper, Inc.

     19,537        689,265  

Molson Coors Beverage Co., Class B

     4,391        226,927  

Monster Beverage Corp.*

     8,647        467,025  

PepsiCo, Inc.

     16,318      2,974,771  
     

 

 

 
Total Beverages

 

     8,529,773  
Biotechnology – 3.2%

 

AbbVie, Inc.

     46,931        7,479,394  

Amgen, Inc.

     11,199        2,707,358  

Biogen, Inc.*

     2,739        761,524  

BioMarin Pharmaceutical, Inc.*

     1,122        109,103  

Gilead Sciences, Inc.

     29,181        2,421,148  

Incyte Corp.*

     3,115        225,121  

Moderna, Inc.*

     21,114        3,242,688  

Neurocrine Biosciences, Inc.*

     655        66,299  

Regeneron Pharmaceuticals, Inc.*

     2,711        2,227,548  

Seagen, Inc.*

     1,272        257,542  

United Therapeutics Corp.*

     845        189,246  

Vertex Pharmaceuticals, Inc.*

     3,874        1,220,581  
     

 

 

 
Total Biotechnology

 

     20,907,552  
Broadline Retail – 1.2%

 

Amazon.com, Inc.*

     70,791        7,312,003  

eBay, Inc.

     17,879        793,291  
     

 

 

 
Total Broadline Retail

 

     8,105,294  
Building Products – 0.2%

 

Carlisle Cos., Inc.

     1,228        277,614  

Carrier Global Corp.

     15,350        702,263  

Masco Corp.

     5,864        291,558  
     

 

 

 
Total Building Products

 

     1,271,435  
Capital Markets – 3.2%

 

Ameriprise Financial, Inc.

     2,701        827,857  

Bank of New York Mellon Corp.

     16,552        752,123  

BlackRock, Inc.

     2,530        1,692,874  

Cboe Global Markets, Inc.

     1,835        246,330  

Charles Schwab Corp.

     27,935        1,463,235  

CME Group, Inc.

     5,054        967,942  

FactSet Research Systems, Inc.

     377        156,489  

Franklin Resources, Inc.

     21,756        586,107  

Goldman Sachs Group, Inc.

     11,720        3,833,729  

Intercontinental Exchange, Inc.

     9,407        981,056  

LPL Financial Holdings, Inc.

     1,035        209,484  

MarketAxess Holdings, Inc.

     416        162,777  

Moody’s Corp.

     2,118        648,150  

Morgan Stanley

     44,135        3,875,053  

Morningstar, Inc.

     419        85,070  

MSCI, Inc.

     680        380,589  

Nasdaq, Inc.

     6,414        350,653  

Northern Trust Corp.

     5,945        523,933  

Raymond James Financial, Inc.

     4,319        402,833  

S&P Global, Inc.

     3,334        1,149,463  

State Street Corp.

     11,841        896,245  

T. Rowe Price Group, Inc.

     5,703        643,869  
     

 

 

 
Total Capital Markets

 

     20,835,861  
Chemicals – 1.5%

 

Air Products & Chemicals, Inc.

     2,406        691,027  

Albemarle Corp.

     2,031        448,932  

 

See Notes to Financial Statements.

 

WisdomTree Trust      45  


Schedule of Investments (continued)

WisdomTree U.S. LargeCap Fund (EPS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Celanese Corp.

     6,137      $ 668,258  

CF Industries Holdings, Inc.

     10,112        733,019  

Corteva, Inc.

     9,671        583,258  

Dow, Inc.

     34,883        1,912,286  

DuPont de Nemours, Inc.

     7,923        568,634  

Eastman Chemical Co.

     4,584        386,615  

Ecolab, Inc.

     3,035        502,384  

FMC Corp.

     2,324        283,830  

Mosaic Co.

     20,061        920,399  

PPG Industries, Inc.

     3,613        482,624  

RPM International, Inc.

     1,706        148,831  

Sherwin-Williams Co.

     2,780        624,861  

Westlake Corp.

     7,053        818,007  
     

 

 

 
Total Chemicals

 

     9,772,965  
Commercial Services & Supplies – 0.3%

 

Cintas Corp.

     843        390,040  

Copart, Inc.*

     5,377        404,404  

Republic Services, Inc.

     3,510        474,622  

Rollins, Inc.

     3,700        138,861  

Waste Management, Inc.

     4,348        709,463  
     

 

 

 
Total Commercial Services & Supplies

 

     2,117,390  
Communications Equipment – 1.0%

 

Arista Networks, Inc.*

     3,207        538,327  

Cisco Systems, Inc.

     91,022        4,758,175  

Juniper Networks, Inc.

     7,050        242,661  

Motorola Solutions, Inc.

     2,262        647,226  

Ubiquiti, Inc.(a)

     571        155,135  
     

 

 

 
Total Communications Equipment

 

     6,341,524  
Construction & Engineering – 0.1%

 

AECOM

     1,597        134,659  

Quanta Services, Inc.

     1,682        280,289  

WillScot Mobile Mini Holdings Corp.*

     1,850        86,728  
     

 

 

 
Total Construction & Engineering

 

     501,676  
Construction Materials – 0.1%

 

Martin Marietta Materials, Inc.

     739        262,389  

Vulcan Materials Co.

     1,394        239,155  
     

 

 

 
Total Construction Materials

 

     501,544  
Consumer Finance – 1.0%

 

American Express Co.

     15,438        2,546,498  

Capital One Financial Corp.

     22,882        2,200,333  

Discover Financial Services

     13,476        1,331,968  

Synchrony Financial

     24,159        702,544  
     

 

 

 
Total Consumer Finance

 

     6,781,343  
Consumer Staples Distribution & Retail – 1.9%

 

Albertsons Cos., Inc., Class A

     25,313        526,004  

BJ’s Wholesale Club Holdings, Inc.*

     2,211        168,191  

Costco Wholesale Corp.

     3,895        1,935,309  

Dollar General Corp.

     3,079        648,006  

Dollar Tree, Inc.*

     3,630        521,086  

Kroger Co.

     20,269        1,000,681  

Sysco Corp.

     6,609        510,413  

Target Corp.

     6,752      1,118,334  

Walgreens Boots Alliance, Inc.

     31,547        1,090,895  

Walmart, Inc.

     36,018        5,310,854  
     

 

 

 
Total Consumer Staples Distribution & Retail

 

     12,829,773  
Containers & Packaging – 0.2%

 

Avery Dennison Corp.

     1,313        234,935  

International Paper Co.

     13,041        470,258  

Packaging Corp. of America

     2,473        343,327  
     

 

 

 
Total Containers & Packaging

 

     1,048,520  
Distributors – 0.2%

 

Genuine Parts Co.

     2,264        378,790  

LKQ Corp.

     6,514        369,734  

Pool Corp.

     820        280,801  
     

 

 

 
Total Distributors

 

     1,029,325  
Diversified Consumer Services – 0.0%

 

Service Corp. International

     2,467        169,680  
Diversified REITs – 0.0%

 

W.P. Carey, Inc.

     1,663        128,799  
Diversified Telecommunication Services – 2.1%

 

AT&T, Inc.

     343,789        6,617,938  

Verizon Communications, Inc.

     190,848        7,422,079  
     

 

 

 
Total Diversified Telecommunication Services

 

     14,040,017  
Electric Utilities – 1.6%

 

Alliant Energy Corp.

     4,231        225,935  

American Electric Power Co., Inc.

     9,198        836,926  

Avangrid, Inc.

     7,266        289,768  

Constellation Energy Corp.

     2,740        215,090  

Duke Energy Corp.

     12,316        1,188,124  

Edison International

     8,668        611,874  

Entergy Corp.

     3,850        414,799  

Evergy, Inc.

     4,741        289,770  

Eversource Energy

     4,762        372,674  

Exelon Corp.

     20,618        863,688  

FirstEnergy Corp.

     11,020        441,461  

NextEra Energy, Inc.

     20,482        1,578,753  

NRG Energy, Inc.

     13,063        447,930  

PG&E Corp.*

     48,866        790,163  

PPL Corp.

     11,364        315,806  

Southern Co.

     19,308        1,343,451  

Xcel Energy, Inc.

     7,881        531,495  
     

 

 

 
Total Electric Utilities

 

     10,757,707  
Electrical Equipment – 0.3%

 

AMETEK, Inc.

     2,898        421,166  

Emerson Electric Co.

     10,515        916,277  

Hubbell, Inc.

     628        152,799  

Rockwell Automation, Inc.

     1,423        417,580  
     

 

 

 
Total Electrical Equipment

 

     1,907,822  
Electronic Equipment, Instruments & Components – 0.5%

 

Amphenol Corp., Class A

     8,331        680,809  

CDW Corp.

     2,311        450,391  

 

See Notes to Financial Statements.

 

46   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. LargeCap Fund (EPS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Corning, Inc.

     17,127      $ 604,241  

Jabil, Inc.

     5,008        441,505  

Keysight Technologies, Inc.*

     2,601        420,009  

TD SYNNEX Corp.

     3,724        360,446  

Teledyne Technologies, Inc.*

     557        249,180  

Trimble, Inc.*

     2,851        149,449  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     3,356,030  
Energy Equipment & Services – 0.1%

 

Baker Hughes Co.

     8,984        259,278  

Halliburton Co.

     14,533        459,824  
     

 

 

 
Total Energy Equipment & Services

 

     719,102  
Entertainment – 1.0%

 

Activision Blizzard, Inc.

     10,201        873,103  

Electronic Arts, Inc.

     4,328        521,308  

Liberty Media Corp. – Liberty Formula One, Class C*

     1,637        122,497  

Live Nation Entertainment, Inc.*

     2,027        141,890  

Netflix, Inc.*

     7,332        2,533,059  

Walt Disney Co.*

     22,029        2,205,764  
     

 

 

 
Total Entertainment

 

     6,397,621  
Financial Services – 3.5%

 

Berkshire Hathaway, Inc., Class B*

     32,445        10,018,043  

Equitable Holdings, Inc.

     20,371        517,220  

Fidelity National Information Services, Inc.

     18,711        1,016,569  

Fiserv, Inc.*

     12,154        1,373,766  

FleetCor Technologies, Inc.*

     1,574        331,878  

Global Payments, Inc.

     8,217        864,757  

Jack Henry & Associates, Inc.

     732        110,327  

MasterCard, Inc., Class A

     9,224        3,352,094  

Visa, Inc., Class A

     24,338        5,487,245  
     

 

 

 
Total Financial Services

 

     23,071,899  
Food Products – 1.2%

 

Archer-Daniels-Midland Co.

     14,818        1,180,402  

Campbell Soup Co.

     5,211        286,501  

Conagra Brands, Inc.

     9,599        360,538  

Darling Ingredients, Inc.*

     3,819        223,030  

General Mills, Inc.

     9,767        834,688  

Hershey Co.

     2,366        601,934  

Hormel Foods Corp.

     6,189        246,817  

J.M. Smucker Co.

     1,997        314,268  

Kellogg Co.

     6,287        420,978  

Kraft Heinz Co.

     27,439        1,061,066  

Lamb Weston Holdings, Inc.

     1,425        148,941  

McCormick & Co., Inc., Non-Voting Shares

     2,349        195,460  

Mondelez International, Inc., Class A

     20,085        1,400,326  

Tyson Foods, Inc., Class A

     15,362        911,274  
     

 

 

 
Total Food Products

 

     8,186,223  
Gas Utilities – 0.0%

 

Atmos Energy Corp.

     2,168        243,597  
Ground Transportation – 0.8%

 

CSX Corp.

     42,219        1,264,037  

JB Hunt Transport Services, Inc.

     1,754        307,757  

Norfolk Southern Corp.

     4,261      903,332  

Old Dominion Freight Line, Inc.

     1,465        499,330  

Union Pacific Corp.

     11,016        2,217,080  
     

 

 

 
Total Ground Transportation

 

     5,191,536  
Health Care Equipment & Supplies – 1.6%

 

Abbott Laboratories

     30,818        3,120,631  

Align Technology, Inc.*

     1,299        434,048  

Becton Dickinson & Co.

     4,505        1,115,168  

Boston Scientific Corp.*

     17,787        889,884  

Cooper Cos., Inc.

     441        164,652  

Dexcom, Inc.*

     2,372        275,579  

Edwards Lifesciences Corp.*

     6,726        556,442  

GE HealthCare Technologies, Inc.*

     3,298        270,535  

Hologic, Inc.*

     6,616        533,911  

IDEXX Laboratories, Inc.*

     672        336,054  

Insulet Corp.*

     543        173,195  

Intuitive Surgical, Inc.*

     2,135        545,428  

ResMed, Inc.

     1,361        298,045  

Stryker Corp.

     4,479        1,278,620  

Teleflex, Inc.

     984        249,257  

Zimmer Biomet Holdings, Inc.

     3,877        500,908  
     

 

 

 
Total Health Care Equipment & Supplies

 

     10,742,357  
Health Care Providers & Services – 3.0%

 

AmerisourceBergen Corp.

     4,498        720,175  

Cardinal Health, Inc.

     5,746        433,823  

Centene Corp.*

     12,524        791,642  

Cigna Group

     7,147        1,826,273  

CVS Health Corp.

     36,143        2,685,786  

Elevance Health, Inc.

     4,334        1,992,817  

HCA Healthcare, Inc.

     6,969        1,837,586  

Henry Schein, Inc.*

     2,513        204,910  

Humana, Inc.

     1,809        878,197  

Laboratory Corp. of America Holdings

     2,624        601,998  

McKesson Corp.

     3,083        1,097,702  

Molina Healthcare, Inc.*

     867        231,914  

Quest Diagnostics, Inc.

     3,038        429,816  

UnitedHealth Group, Inc.

     12,143        5,738,660  
     

 

 

 
Total Health Care Providers & Services

 

     19,471,299  
Health Care REITs – 0.1%

 

Healthpeak Properties, Inc.

     8,086        177,649  

Welltower, Inc.

     3,262        233,853  
     

 

 

 
Total Health Care REITs

 

     411,502  
Health Care Technology – 0.0%

 

Veeva Systems, Inc., Class A*

     1,443        265,209  
Hotel & Resort REITs – 0.0%

 

Host Hotels & Resorts, Inc.

     14,151        233,350  
Hotels, Restaurants & Leisure – 1.3%

 

Airbnb, Inc., Class A*

     5,474        680,966  

Aramark

     2,538        90,860  

Booking Holdings, Inc.*

     592        1,570,227  

Chipotle Mexican Grill, Inc.*

     210        358,741  

Darden Restaurants, Inc.

     2,126        329,870  

 

See Notes to Financial Statements.

 

WisdomTree Trust      47  


Schedule of Investments (continued)

WisdomTree U.S. LargeCap Fund (EPS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Domino’s Pizza, Inc.

     440      $ 145,143  

Expedia Group, Inc.*

     3,855        374,051  

Hilton Worldwide Holdings, Inc.

     2,701        380,490  

Marriott International, Inc., Class A

     3,970        659,179  

McDonald’s Corp.

     8,573        2,397,096  

Starbucks Corp.

     10,065        1,048,068  

Vail Resorts, Inc.

     547        127,823  

Yum! Brands, Inc.

     3,092        408,391  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     8,570,905  
Household Durables – 0.7%

 

D.R. Horton, Inc.

     19,197        1,875,355  

Lennar Corp., Class A

     15,614        1,641,188  

NVR, Inc.*

     104        579,508  

PulteGroup, Inc.

     12,923        753,152  
     

 

 

 
Total Household Durables

 

     4,849,203  
Household Products – 1.0%

 

Church & Dwight Co., Inc.

     3,088        273,010  

Clorox Co.

     788        124,693  

Colgate-Palmolive Co.

     9,774        734,516  

Kimberly-Clark Corp.

     4,308        578,220  

Procter & Gamble Co.

     30,965        4,604,186  
     

 

 

 
Total Household Products

 

     6,314,625  
Independent Power & Renewable Electricity Producers – 0.1%

 

AES Corp.

     13,144        316,508  
Industrial Conglomerates – 0.6%

 

3M Co.

     15,426        1,621,427  

General Electric Co.

     9,894        945,866  

Honeywell International, Inc.

     8,642        1,651,659  
     

 

 

 
Total Industrial Conglomerates

 

     4,218,952  
Industrial REITs – 0.2%

 

Prologis, Inc.

     11,861        1,479,897  

Rexford Industrial Realty, Inc.

     1,616        96,394  
     

 

 

 
Total Industrial REITs

 

     1,576,291  
Insurance – 1.9%

 

Aflac, Inc.

     17,432        1,124,713  

Allstate Corp.

     2,579        285,779  

American Financial Group, Inc.

     2,343        284,675  

American International Group, Inc.

     21,096        1,062,395  

Arthur J. Gallagher & Co.

     2,179        416,864  

Brown & Brown, Inc.

     3,258        187,074  

Cincinnati Financial Corp.

     1,983        222,255  

CNA Financial Corp.

     6,671        260,369  

Erie Indemnity Co., Class A

     336        77,838  

Fidelity National Financial, Inc.

     15,512        541,834  

Globe Life, Inc.

     1,800        198,036  

Hartford Financial Services Group, Inc.

     10,628        740,665  

Loews Corp.

     5,395        313,018  

Markel Corp.*

     321        410,049  

Marsh & McLennan Cos., Inc.

     6,225        1,036,774  

MetLife, Inc.

     28,203        1,634,082  

Principal Financial Group, Inc.

     6,857        509,612  

Progressive Corp.

     5,705        816,157  

Prudential Financial, Inc.

     11,757      972,774  

Travelers Cos., Inc.

     6,168        1,057,257  

W.R. Berkley Corp.

     4,328        269,461  
     

 

 

 
Total Insurance

 

     12,421,681  
Interactive Media & Services – 8.7%

 

Alphabet, Inc., Class A*

     305,722        31,712,543  

Match Group, Inc.*

     1,506        57,815  

Meta Platforms, Inc., Class A*

     119,879        25,407,155  

Pinterest, Inc., Class A*

     8,060        219,796  

Snap, Inc., Class A*

     5,954        66,745  

ZoomInfo Technologies, Inc.*

     4,635        114,531  
     

 

 

 
Total Interactive Media & Services

 

     57,578,585  
IT Services – 0.6%

 

Akamai Technologies, Inc.*

     2,123        166,231  

Cognizant Technology Solutions Corp., Class A

     13,270        808,541  

EPAM Systems, Inc.*

     544        162,656  

Gartner, Inc.*

     929        302,640  

GoDaddy, Inc., Class A*

     1,719        133,601  

International Business Machines Corp.

     17,758        2,327,896  

MongoDB, Inc.*

     517        120,523  

VeriSign, Inc.*

     1,038        219,361  
     

 

 

 
Total IT Services

 

     4,241,449  
Life Sciences Tools & Services – 1.3%

 

Agilent Technologies, Inc.

     3,296        455,969  

Avantor, Inc.*

     14,985        316,783  

Bruker Corp.

     1,836        144,750  

Charles River Laboratories International, Inc.*

     903        182,243  

Danaher Corp.

     9,591        2,417,316  

IQVIA Holdings, Inc.*

     2,948        586,328  

Mettler-Toledo International, Inc.*

     200        306,042  

PerkinElmer, Inc.

     1,878        250,262  

Repligen Corp.*

     349        58,758  

Thermo Fisher Scientific, Inc.

     5,385        3,103,752  

Waters Corp.*

     615        190,422  

West Pharmaceutical Services, Inc.

     1,057        366,219  
     

 

 

 
Total Life Sciences Tools & Services

 

     8,378,844  
Machinery – 1.7%

 

AGCO Corp.

     1,948        263,370  

Caterpillar, Inc.

     9,423        2,156,359  

Cummins, Inc.

     3,071        733,600  

Deere & Co.

     5,296        2,186,613  

Dover Corp.

     2,961        449,894  

Fortive Corp.

     5,624        383,388  

Graco, Inc.

     2,049        149,598  

IDEX Corp.

     757        174,890  

Illinois Tool Works, Inc.

     3,638        885,671  

Ingersoll Rand, Inc.

     6,162        358,505  

Nordson Corp.

     720        160,027  

Otis Worldwide Corp.

     5,502        464,369  

PACCAR, Inc.

     11,854        867,713  

Parker-Hannifin Corp.

     2,813        945,477  

Snap-on, Inc.

     1,055        260,469  

 

See Notes to Financial Statements.

 

48   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. LargeCap Fund (EPS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Toro Co.

     1,087      $ 120,831  

Westinghouse Air Brake Technologies Corp.

     3,119        315,206  

Xylem, Inc.

     1,644        172,127  
     

 

 

 
Total Machinery

 

     11,048,107  
Media – 1.6%

 

Charter Communications, Inc., Class A*

     4,462        1,595,656  

Comcast Corp., Class A

     149,099        5,652,343  

Fox Corp., Class A

     16,897        575,343  

Interpublic Group of Cos., Inc.

     9,329        347,412  

Liberty Broadband Corp., Class C*

     6,672        545,102  

News Corp., Class A

     11,972        206,756  

Omnicom Group, Inc.

     5,772        544,531  

Paramount Global, Class B

     21,281        474,779  

Sirius XM Holdings, Inc.(a)

     56,468        224,178  

Trade Desk, Inc., Class A*

     3,756        228,778  
     

 

 

 
Total Media

 

     10,394,878  
Metals & Mining – 1.0%

 

Freeport-McMoRan, Inc.

     34,379        1,406,445  

Nucor Corp.

     14,218        2,196,254  

Reliance Steel & Aluminum Co.

     2,839        728,885  

Southern Copper Corp.

     13,706        1,045,083  

Steel Dynamics, Inc.

     9,575        1,082,549  
     

 

 

 
Total Metals & Mining

 

     6,459,216  
Multi-Utilities – 0.7%

 

Ameren Corp.

     3,586        309,795  

CenterPoint Energy, Inc.

     10,442        307,621  

CMS Energy Corp.

     3,318        203,659  

Consolidated Edison, Inc.

     5,805        555,364  

Dominion Energy, Inc.

     17,984        1,005,486  

DTE Energy Co.

     3,010        329,715  

NiSource, Inc.

     6,665        186,353  

Public Service Enterprise Group, Inc.

     8,258        515,712  

Sempra Energy

     5,847        883,833  

WEC Energy Group, Inc.

     4,538        430,157  
     

 

 

 
Total Multi-Utilities

 

     4,727,695  
Office REITs – 0.1%

 

Alexandria Real Estate Equities, Inc.

     525        65,935  

Boston Properties, Inc.

     4,713        255,067  
     

 

 

 
Total Office REITs

 

     321,002  
Oil, Gas & Consumable Fuels – 8.9%

 

Antero Resources Corp.*

     15,689        362,259  

APA Corp.

     17,183        619,619  

Chesapeake Energy Corp.

     6,781        515,627  

Chevron Corp.

     61,205        9,986,208  

ConocoPhillips

     44,922        4,456,712  

Coterra Energy, Inc.

     43,778        1,074,312  

Devon Energy Corp.

     25,492        1,290,150  

Diamondback Energy, Inc.

     8,932        1,207,339  

EOG Resources, Inc.

     19,098        2,189,204  

EQT Corp.

     10,375        331,066  

Exxon Mobil Corp.

     161,659        17,727,526  

Hess Corp.

     4,321        571,841  

HF Sinclair Corp.

     12,750      616,845  

Kinder Morgan, Inc.

     44,714        782,942  

Marathon Oil Corp.

     33,685        807,093  

Marathon Petroleum Corp.

     27,898        3,761,487  

New Fortress Energy, Inc.

     2,220        65,335  

Occidental Petroleum Corp.

     44,584        2,783,379  

ONEOK, Inc.

     8,340        529,924  

Ovintiv, Inc.

     11,605        418,708  

Phillips 66

     25,389        2,573,937  

Pioneer Natural Resources Co.

     10,365        2,116,948  

Targa Resources Corp.

     1,713        124,963  

Valero Energy Corp.

     23,439        3,272,084  

Williams Cos., Inc.

     19,127        571,132  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     58,756,640  
Passenger Airlines – 0.1%

 

Delta Air Lines, Inc.*

     11,166        389,917  

Southwest Airlines Co.

     8,723        283,846  
     

 

 

 
Total Passenger Airlines

 

     673,763  
Personal Care Products – 0.1%

 

Estee Lauder Cos., Inc., Class A

     3,512        865,568  
Pharmaceuticals – 4.6%

 

Bristol-Myers Squibb Co.

     66,307        4,595,738  

Eli Lilly & Co.

     6,767        2,323,923  

Johnson & Johnson

     46,844        7,260,820  

Merck & Co., Inc.

     56,074        5,965,713  

Pfizer, Inc.

     236,859        9,663,847  

Zoetis, Inc.

     4,717        785,098  
     

 

 

 
Total Pharmaceuticals

 

     30,595,139  
Professional Services – 0.5%

 

Automatic Data Processing, Inc.

     3,806        847,330  

Booz Allen Hamilton Holding Corp.

     1,706        158,129  

Broadridge Financial Solutions, Inc.

     1,717        251,661  

CoStar Group, Inc.*

     2,765        190,370  

Equifax, Inc.

     1,584        321,298  

Jacobs Solutions, Inc.

     2,362        277,559  

Leidos Holdings, Inc.

     2,717        250,127  

Paychex, Inc.

     3,860        442,317  

SS&C Technologies Holdings, Inc.

     7,449        420,645  

Verisk Analytics, Inc.

     1,745        334,796  
     

 

 

 
Total Professional Services

 

     3,494,232  
Real Estate Management & Development – 0.1%

 

CBRE Group, Inc., Class A*

     8,752        637,233  
Residential REITs – 0.3%

 

American Homes 4 Rent, Class A

     2,815        88,532  

AvalonBay Communities, Inc.

     2,424        407,378  

Camden Property Trust

     1,861        195,107  

Equity LifeStyle Properties, Inc.

     1,864        125,130  

Equity Residential

     6,377        382,620  

Essex Property Trust, Inc.

     736        153,927  

Invitation Homes, Inc.

     5,174        161,584  

Mid-America Apartment Communities, Inc.

     1,315        198,618  

Sun Communities, Inc.

     1,089        153,418  

 

See Notes to Financial Statements.

 

WisdomTree Trust      49  


Schedule of Investments (continued)

WisdomTree U.S. LargeCap Fund (EPS)

March 31, 2023

 

 

 

Investments    Shares      Value  

UDR, Inc.

     3,271      $ 134,307  
     

 

 

 
Total Residential REITs

 

     2,000,621  
Retail REITs – 0.2%

 

Kimco Realty Corp.

     4,193        81,889  

Realty Income Corp.

     4,335        274,492  

Regency Centers Corp.

     568        34,750  

Simon Property Group, Inc.

     5,386        603,071  
     

 

 

 
Total Retail REITs

 

     994,202  
Semiconductors & Semiconductor Equipment – 5.2%

 

Analog Devices, Inc.

     9,841        1,940,842  

Applied Materials, Inc.

     20,657        2,537,299  

Broadcom, Inc.

     9,164        5,879,073  

Enphase Energy, Inc.*

     892        187,570  

First Solar, Inc.*

     623        135,502  

KLA Corp.

     2,967        1,184,337  

Lam Research Corp.

     3,453        1,830,504  

Lattice Semiconductor Corp.*

     1,554        148,407  

Microchip Technology, Inc.

     13,400        1,122,652  

Micron Technology, Inc.

     56,192        3,390,625  

Monolithic Power Systems, Inc.

     422        211,228  

NVIDIA Corp.

     18,396        5,109,857  

ON Semiconductor Corp.*

     10,404        856,457  

Qorvo, Inc.*

     1,608        163,325  

QUALCOMM, Inc.

     42,774        5,457,107  

Skyworks Solutions, Inc.

     7,015        827,630  

Teradyne, Inc.

     2,078        223,406  

Texas Instruments, Inc.

     16,280        3,028,243  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     34,234,064  
Software – 7.6%

 

Adobe, Inc.*

     6,195        2,387,367  

ANSYS, Inc.*

     691        229,965  

Atlassian Corp., Class A*

     1,328        227,314  

Autodesk, Inc.*

     1,576        328,060  

Bentley Systems, Inc., Class B

     2,035        87,485  

Bills Holdings, Inc.*

     426        34,566  

Black Knight, Inc.*

     2,376        136,763  

Cadence Design Systems, Inc.*

     2,380        500,014  

Ceridian HCM Holding, Inc.*

     1,008        73,806  

Crowdstrike Holdings, Inc., Class A*

     1,536        210,831  

Datadog, Inc., Class A*

     2,246        163,194  

Dynatrace, Inc.*

     2,177        92,087  

Fair Isaac Corp.*

     258        181,294  

Fortinet, Inc.*

     5,352        355,694  

Gen Digital, Inc.

     14,816        254,243  

HubSpot, Inc.*

     402        172,357  

Intuit, Inc.

     2,896        1,291,124  

Microsoft Corp.

     108,107        31,167,248  

Oracle Corp.

     54,064        5,023,627  

Palo Alto Networks, Inc.*

     2,067        412,863  

Paycom Software, Inc.*

     256        77,827  

Paylocity Holding Corp.*

     492        97,800  

PTC, Inc.*

     1,567        200,936  

Roper Technologies, Inc.

     1,151        507,234  

Salesforce, Inc.*

     15,303      3,057,233  

ServiceNow, Inc.*

     1,465        680,815  

Splunk, Inc.*

     1,362        130,589  

Synopsys, Inc.*

     1,358        524,527  

Tyler Technologies, Inc.*

     257        91,142  

VMware, Inc., Class A*

     7,370        920,144  

Workday, Inc., Class A*

     1,524        314,767  

Zoom Video Communications, Inc., Class A*

     5,818        429,601  
     

 

 

 
Total Software

 

     50,362,517  
Specialized REITs – 0.9%

 

American Tower Corp.

     4,370        892,966  

Crown Castle, Inc.

     3,883        519,701  

Digital Realty Trust, Inc.

     4,300        422,733  

Equinix, Inc.

     598        431,182  

Extra Space Storage, Inc.

     1,963        319,832  

Gaming & Leisure Properties, Inc.

     3,356        174,713  

Iron Mountain, Inc.

     2,928        154,920  

Public Storage

     4,771        1,441,510  

SBA Communications Corp.

     762        198,935  

VICI Properties, Inc.

     8,909        290,612  

Weyerhaeuser Co.

     25,557        770,032  
     

 

 

 
Total Specialized REITs

 

     5,617,136  
Specialty Retail – 1.9%

 

AutoZone, Inc.*

     318        781,692  

Bath & Body Works, Inc.

     7,121        260,486  

Best Buy Co., Inc.

     6,044        473,064  

Burlington Stores, Inc.*

     631        127,525  

Home Depot, Inc.

     16,689        4,925,257  

Lowe’s Cos., Inc.

     13,443        2,688,197  

O’Reilly Automotive, Inc.*

     848        719,935  

Ross Stores, Inc.

     4,084        433,435  

TJX Cos., Inc.

     14,733        1,154,478  

Tractor Supply Co.

     1,503        353,265  

Ulta Beauty, Inc.*

     788        429,988  
     

 

 

 
Total Specialty Retail

 

     12,347,322  
Technology Hardware, Storage & Peripherals – 5.9%

 

Apple, Inc.

     220,844        36,417,176  

Hewlett Packard Enterprise Co.

     56,330        897,337  

HP, Inc.

     44,575        1,308,276  

NetApp, Inc.

     6,003        383,291  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     39,006,080  
Textiles, Apparel & Luxury Goods – 0.3%

 

Deckers Outdoor Corp.*

     396        178,022  

NIKE, Inc., Class B

     16,993        2,084,021  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     2,262,043  
Tobacco – 0.8%

 

Altria Group, Inc.

     57,883        2,582,739  

Philip Morris International, Inc.

     27,058        2,631,391  
     

 

 

 
Total Tobacco

 

     5,214,130  
Trading Companies & Distributors – 0.3%

 

Fastenal Co.

     7,201        388,422  

United Rentals, Inc.

     2,043        808,538  

 

See Notes to Financial Statements.

 

50   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. LargeCap Fund (EPS)

March 31, 2023

 

 

 

Investments    Shares      Value  

W.W. Grainger, Inc.

     744      $ 512,474  

Watsco, Inc.(a)

     618        196,623  
     

 

 

 
Total Trading Companies & Distributors

 

     1,906,057  
Water Utilities – 0.1%

 

American Water Works Co., Inc.

     2,074        303,820  

Essential Utilities, Inc.

     2,606        113,752  
     

 

 

 
Total Water Utilities

 

     417,572  
Wireless Telecommunication Services – 0.2%

 

T-Mobile US, Inc.*

     7,952        1,151,768  
TOTAL COMMON STOCKS
(Cost: $610,558,477)

 

     657,755,103  
EXCHANGE-TRADED FUND – 0.0%

 

United States – 0.0%

 

WisdomTree U.S. High Dividend Fund(b)
(Cost: $126,378)
     1,843        151,624  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.1%

 

United States – 0.1%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 4.84%(c)

     
(Cost: $417,512)      417,512        417,512  

TOTAL INVESTMENTS IN SECURITIES – 100.0%

(Cost: $611,102,367)

 

 

     658,324,239  

Other Assets less Liabilities – 0.0%

 

     310,518  
     

 

 

 
NET ASSETS – 100.0%

 

   $ 658,634,757  
^ 

Subsequent to March 31, 2023, the California Department of Financial Protection and Innovation (“DFPI”) announced on May 1, 2023 that regulators have taken possession of First Republic Bank. The DFPI appointed the Federal Deposit Insurance Corporation (“FDIC”) as receiver of First Republic Bank. The FDIC has accepted a bid from JPMorgan Chase & Co. to assume all deposits, including all uninsured deposits, and substantially all assets of First Republic Bank.

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $590,429. The Fund also had securities on loan having a total market value of $5,904 that were sold and pending settlement. The total market value of the collateral held by the Fund was $618,758. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $201,246.

 

(b) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

    

 

INVESTMENT IN AFFILIATES               

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate    Value at
3/31/2022
     Purchases/
Additions
     Sales/
Reductions
     Realized
Gain/(Loss)
     Change in
Unrealized
Appreciation/
Depreciation
     Value at
3/31/2023
     Dividend
Income
 

WisdomTree U.S. High Dividend Fund

   $ 396,757      $ 2,462,507      $ 2,612,008      $ (46,675    $ (48,957    $ 151,624      $ 30,740  

 

See Notes to Financial Statements.

 

WisdomTree Trust      51  


Schedule of Investments (concluded)

WisdomTree U.S. LargeCap Fund (EPS)

March 31, 2023

 

 

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

     

Investments in Securities

  

Common Stocks

   $ 657,755,103      $      $      $ 657,755,103  

Exchange-Traded Fund

     151,624                      151,624  

Investment of Cash Collateral for Securities Loaned

            417,512               417,512  

Total Investments in Securities

   $ 657,906,727      $ 417,512      $      $ 658,324,239  

 

See Notes to Financial Statements.

 

52   WisdomTree Trust


Schedule of Investments

WisdomTree U.S. MidCap Dividend Fund (DON)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.8%

 

United States – 99.5%

 

Aerospace & Defense – 1.3%

 

BWX Technologies, Inc.

     114,585      $ 7,223,438  

Curtiss-Wright Corp.

     19,057        3,358,987  

Hexcel Corp.

     48,818        3,331,828  

Howmet Aerospace, Inc.

     202,734        8,589,840  

Huntington Ingalls Industries, Inc.

     45,802        9,481,930  

Textron, Inc.

     110,130        7,778,482  

Woodward, Inc.

     35,648        3,471,046  
     

 

 

 
Total Aerospace & Defense

 

     43,235,551  
Air Freight & Logistics – 0.7%

 

C.H. Robinson Worldwide, Inc.

     226,577        22,514,956  
Automobile Components – 0.8%

 

BorgWarner, Inc.

     213,184        10,469,466  

Gentex Corp.

     237,686        6,662,339  

Lear Corp.

     73,198        10,210,389  
     

 

 

 
Total Automobile Components

 

     27,342,194  
Automobiles – 0.4%

 

Harley-Davidson, Inc.

     121,155        4,600,255  

Thor Industries, Inc.

     96,234        7,664,076  
     

 

 

 
Total Automobiles

 

     12,264,331  
Banks – 7.9%

 

Ameris Bancorp

     82,043        3,001,133  

Associated Banc-Corp.

     310,032        5,574,375  

Bank OZK

     290,341        9,929,662  

BOK Financial Corp.

     79,913        6,745,456  

Cadence Bank

     330,586        6,862,965  

Comerica, Inc.

     271,966        11,808,764  

Commerce Bancshares, Inc.

     150,631        8,789,319  

Cullen/Frost Bankers, Inc.

     125,862        13,258,303  

CVB Financial Corp.

     334,028        5,571,587  

East West Bancorp, Inc.

     270,848        15,032,064  

First Citizens BancShares, Inc., Class A

     7,276        7,080,276  

First Financial Bankshares, Inc.

     223,738        7,137,242  

First Interstate BancSystem, Inc., Class A

     255,437        7,627,349  

FNB Corp.

     1,025,920        11,900,672  

Glacier Bancorp, Inc.

     148,080        6,220,841  

Hancock Whitney Corp.

     152,647        5,556,351  

Home BancShares, Inc.

     318,300        6,910,293  

Independent Bank Corp.

     64,035        4,201,977  

New York Community Bancorp, Inc.(a)

     1,618,094        14,627,570  

Old National Bancorp

     500,188        7,212,711  

Pinnacle Financial Partners, Inc.

     58,320        3,216,931  

Prosperity Bancshares, Inc.

     149,776        9,214,219  

ServisFirst Bancshares, Inc.

     64,371        3,516,588  

SouthState Corp.

     101,947        7,264,743  

Synovus Financial Corp.

     273,524        8,432,745  

UMB Financial Corp.

     80,014        4,618,408  

United Bankshares, Inc.

     254,740        8,966,848  

United Community Banks, Inc.

     157,521        4,429,490  

Valley National Bancorp

     1,018,780        9,413,527  

Webster Financial Corp.

     295,477      11,647,703  

Western Alliance Bancorp

     141,353        5,023,686  

Wintrust Financial Corp.

     61,927        4,517,575  

Zions Bancorp NA

     267,035        7,992,358  
     

 

 

 
Total Banks

 

     253,303,731  
Beverages – 0.5%

 

Coca-Cola Consolidated, Inc.

     4,579        2,450,131  

Molson Coors Beverage Co., Class B

     289,882        14,981,102  
     

 

 

 
Total Beverages

 

     17,431,233  
Broadline Retail – 0.6%

 

Dillard’s, Inc., Class A

     7,100        2,184,528  

Kohl’s Corp.

     399,733        9,409,715  

Macy’s, Inc.

     414,759        7,254,135  
     

 

 

 
Total Broadline Retail

 

     18,848,378  
Building Products – 2.4%

 

A.O. Smith Corp.

     142,674        9,865,907  

AAON, Inc.

     32,446        3,137,204  

Advanced Drainage Systems, Inc.(a)

     46,285        3,897,660  

Carlisle Cos., Inc.

     48,633        10,994,462  

Fortune Brands Innovations, Inc.

     130,638        7,672,370  

Lennox International, Inc.

     32,598        8,191,226  

Masco Corp.

     268,590        13,354,295  

Owens Corning

     85,053        8,148,077  

Simpson Manufacturing Co., Inc.

     37,996        4,165,881  

UFP Industries, Inc.

     70,265        5,583,960  

Zurn Elkay Water Solutions Corp.

     156,573        3,344,399  
     

 

 

 
Total Building Products

 

     78,355,441  
Capital Markets – 5.3%

 

Affiliated Managers Group, Inc.

     19,800        2,819,916  

Ares Management Corp., Class A

     292,855        24,435,821  

Blue Owl Capital, Inc.(a)

     1,048,361        11,615,840  

Carlyle Group, Inc.

     769,333        23,895,483  

Cboe Global Markets, Inc.

     129,114        17,332,263  

Evercore, Inc., Class A

     60,744        7,008,643  

Franklin Resources, Inc.

     1,066,247        28,724,694  

Houlihan Lokey, Inc.

     90,555        7,922,657  

Interactive Brokers Group, Inc., Class A

     52,693        4,350,334  

Jefferies Financial Group, Inc.

     399,633        12,684,352  

MarketAxess Holdings, Inc.

     22,339        8,741,027  

Morningstar, Inc.

     21,532        4,371,642  

SEI Investments Co.

     104,727        6,027,039  

Stifel Financial Corp.

     119,124        7,039,037  

Tradeweb Markets, Inc., Class A

     53,501        4,227,649  
     

 

 

 
Total Capital Markets

 

     171,196,397  
Chemicals – 3.5%

 

Ashland, Inc.

     43,010        4,417,557  

Balchem Corp.

     17,701        2,238,822  

Cabot Corp.

     72,853        5,583,454  

Celanese Corp.

     144,554        15,740,485  

Chemours Co.

     274,798        8,227,452  

Eastman Chemical Co.

     215,978        18,215,585  

Element Solutions, Inc.

     257,086        4,964,331  

 

See Notes to Financial Statements.

 

WisdomTree Trust      53  


Schedule of Investments (continued)

WisdomTree U.S. MidCap Dividend Fund (DON)

March 31, 2023

 

 

 

Investments    Shares      Value  

H.B. Fuller Co.

     54,098      $ 3,703,008  

Huntsman Corp.

     458,844        12,553,972  

Olin Corp.

     164,428        9,125,754  

RPM International, Inc.

     113,814        9,929,133  

Valvoline, Inc.

     164,264        5,739,384  

Westlake Corp.(a)

     92,855        10,769,323  
     

 

 

 
Total Chemicals

 

     111,208,260  
Commercial Services & Supplies – 0.3%

 

MSA Safety, Inc.

     33,896        4,525,116  

Tetra Tech, Inc.

     31,750        4,664,392  
     

 

 

 
Total Commercial Services & Supplies

 

     9,189,508  
Communications Equipment – 0.5%

 

Juniper Networks, Inc.

     436,461        15,022,988  
Construction & Engineering – 0.9%

 

AECOM

     96,735        8,156,695  

Comfort Systems USA, Inc.

     22,526        3,287,895  

EMCOR Group, Inc.

     24,982        4,061,823  

MDU Resources Group, Inc.

     323,151        9,849,643  

Valmont Industries, Inc.

     14,014        4,474,390  
     

 

 

 
Total Construction & Engineering

 

     29,830,446  
Construction Materials – 0.1%

 

Eagle Materials, Inc.

     29,367        4,309,607  
Consumer Finance – 1.3%

 

Ally Financial, Inc.

     727,642        18,547,595  

FirstCash Holdings, Inc.

     46,179        4,404,091  

OneMain Holdings, Inc.

     400,065        14,834,410  

SLM Corp.

     398,781        4,940,897  
     

 

 

 
Total Consumer Finance

 

     42,726,993  
Consumer Staples Distribution & Retail – 0.6%

 

Albertsons Cos., Inc., Class A

     640,036        13,299,948  

Casey’s General Stores, Inc.

     23,105        5,001,308  
     

 

 

 
Total Consumer Staples Distribution & Retail

 

     18,301,256  
Containers & Packaging – 4.1%

 

AptarGroup, Inc.

     56,236        6,646,533  

Berry Global Group, Inc.

     118,781        6,996,201  

Graphic Packaging Holding Co.

     445,815        11,363,824  

International Paper Co.

     887,961        32,019,874  

Packaging Corp. of America

     252,153        35,006,401  

Sealed Air Corp.

     128,450        5,897,139  

Silgan Holdings, Inc.

     119,103        6,392,258  

Sonoco Products Co.

     245,288        14,962,568  

Westrock Co.

     395,306        12,044,974  
     

 

 

 
Total Containers & Packaging

 

     131,329,772  
Distributors – 0.8%

 

LKQ Corp.

     280,652        15,929,808  

Pool Corp.

     26,871        9,201,705  
     

 

 

 
Total Distributors

 

     25,131,513  
Diversified Consumer Services – 0.8%

 

ADT, Inc.

     740,106        5,350,966  

H&R Block, Inc.

     336,085        11,846,996  

Service Corp. International

     134,160      9,227,525  
     

 

 

 
Total Diversified Consumer Services

 

     26,425,487  
Electric Utilities – 4.8%

 

ALLETE, Inc.

     128,856        8,294,461  

Alliant Energy Corp.

     395,730        21,131,982  

Evergy, Inc.

     479,172        29,286,993  

Hawaiian Electric Industries, Inc.

     214,828        8,249,395  

IDACORP, Inc.

     82,364        8,922,492  

NRG Energy, Inc.

     405,810        13,915,225  

OGE Energy Corp.

     627,943        23,648,333  

Pinnacle West Capital Corp.

     254,972        20,203,981  

PNM Resources, Inc.

     141,195        6,873,372  

Portland General Electric Co.

     292,985        14,324,037  
     

 

 

 
Total Electric Utilities

 

     154,850,271  
Electrical Equipment – 0.9%

 

Acuity Brands, Inc.

     16,648        3,042,089  

Hubbell, Inc.

     74,300        18,077,933  

Regal Rexnord Corp.

     47,650        6,705,784  

Vertiv Holdings Co.

     191,550        2,741,081  
     

 

 

 
Total Electrical Equipment

 

     30,566,887  
Electronic Equipment, Instruments & Components – 1.3%

 

Avnet, Inc.

     199,024        8,995,885  

Cognex Corp.

     89,294        4,424,517  

Jabil, Inc.

     68,155        6,008,545  

Littelfuse, Inc.

     23,491        6,297,702  

National Instruments Corp.

     201,680        10,570,049  

TD SYNNEX Corp.

     68,224        6,603,401  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     42,900,099  
Energy Equipment & Services – 0.5%

 

ChampionX Corp.

     142,124        3,855,824  

Helmerich & Payne, Inc.

     131,208        4,690,686  

NOV, Inc.

     253,501        4,692,304  

Patterson-UTI Energy, Inc.

     281,379        3,292,134  
     

 

 

 
Total Energy Equipment & Services

 

     16,530,948  
Entertainment – 0.2%

 

Warner Music Group Corp., Class A

     163,881        5,468,709  
Financial Services – 1.7%

 

Enact Holdings, Inc.(a)

     304,091        6,951,520  

Equitable Holdings, Inc.

     493,975        12,542,025  

Jack Henry & Associates, Inc.

     60,127        9,062,342  

MGIC Investment Corp.

     753,243        10,108,521  

TFS Financial Corp.

     860,462        10,867,635  

Voya Financial, Inc.(a)

     78,679        5,622,401  
     

 

 

 
Total Financial Services

 

     55,154,444  
Food Products – 1.3%

 

Flowers Foods, Inc.

     483,520        13,253,283  

Ingredion, Inc.

     101,737        10,349,705  

Lamb Weston Holdings, Inc.

     91,926        9,608,106  

Lancaster Colony Corp.

     28,163        5,713,710  

Seaboard Corp.

     536        2,020,725  
     

 

 

 
Total Food Products

 

     40,945,529  

 

See Notes to Financial Statements.

 

54   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. MidCap Dividend Fund (DON)

March 31, 2023

 

 

 

Investments    Shares      Value  
Gas Utilities – 2.1%

 

National Fuel Gas Co.

     217,668      $ 12,568,150  

New Jersey Resources Corp.

     245,741        13,073,421  

ONE Gas, Inc.

     148,064        11,731,111  

Southwest Gas Holdings, Inc.

     133,867        8,359,994  

Spire, Inc.

     131,109        9,195,985  

UGI Corp.

     403,473        14,024,722  
     

 

 

 
Total Gas Utilities

 

     68,953,383  
Ground Transportation – 0.6%

 

Knight-Swift Transportation Holdings, Inc.

     88,709        5,019,155  

Landstar System, Inc.

     26,090        4,676,893  

Ryder System, Inc.

     117,570        10,491,947  
     

 

 

 
Total Ground Transportation

 

     20,187,995  
Health Care Equipment & Supplies – 0.7%

 

Cooper Cos., Inc.

     24,207        9,037,925  

Dentsply Sirona, Inc.

     207,232        8,140,073  

Teleflex, Inc.

     23,928        6,061,202  
     

 

 

 
Total Health Care Equipment & Supplies

 

     23,239,200  
Health Care Providers & Services – 0.7%

 

Chemed Corp.

     7,493        4,029,361  

Encompass Health Corp.

     76,079        4,115,874  

Ensign Group, Inc.

     28,844        2,755,756  

Premier, Inc., Class A

     252,964        8,188,445  

Universal Health Services, Inc., Class B

     33,285        4,230,523  
     

 

 

 
Total Health Care Providers & Services

 

     23,319,959  
Health Care REITs – 1.2%

 

Healthpeak Properties, Inc.

     756,418        16,618,503  

Omega Healthcare Investors, Inc.

     759,085        20,806,520  
     

 

 

 
Total Health Care REITs

 

     37,425,023  
Hotel & Resort REITs – 0.4%

 

Apple Hospitality REIT, Inc.

     293,251        4,551,256  

Host Hotels & Resorts, Inc.

     389,752        6,427,010  

Ryman Hospitality Properties, Inc.

     28,794        2,583,686  
     

 

 

 
Total Hotel & Resort REITs

 

     13,561,952  
Hotels, Restaurants & Leisure – 2.6%

 

Aramark

     162,528        5,818,502  

Boyd Gaming Corp.

     98,602        6,322,360  

Choice Hotels International, Inc.

     42,166        4,941,434  

Churchill Downs, Inc.

     19,410        4,989,341  

Domino’s Pizza, Inc.

     32,155        10,606,970  

Marriott Vacations Worldwide Corp.

     40,591        5,474,102  

Texas Roadhouse, Inc.

     103,856        11,222,679  

Vail Resorts, Inc.

     63,485        14,835,175  

Wendy’s Co.

     274,038        5,968,548  

Wingstop, Inc.

     17,137        3,146,010  

Wyndham Hotels & Resorts, Inc.

     132,489        8,989,379  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     82,314,500  
Household Durables – 1.1%

 

Leggett & Platt, Inc.

     353,824        11,279,909  

PulteGroup, Inc.

     177,271        10,331,354  

Tempur Sealy International, Inc.

     143,094        5,650,782  

Toll Brothers, Inc.

     118,193      7,095,126  
     

 

 

 
Total Household Durables

 

     34,357,171  
Household Products – 0.3%

 

Reynolds Consumer Products, Inc.

     332,223        9,136,132  
Independent Power & Renewable Electricity Producers – 1.2%

 

Clearway Energy, Inc., Class C

     378,220        11,849,633  

Ormat Technologies, Inc.

     29,578        2,507,327  

Vistra Corp.

     984,440        23,626,560  
     

 

 

 
Total Independent Power & Renewable Electricity Producers

 

     37,983,520  
Industrial REITs – 0.8%

 

Americold Realty Trust, Inc.

     141,657        4,030,142  

EastGroup Properties, Inc.

     31,039        5,131,367  

First Industrial Realty Trust, Inc.

     71,173        3,786,404  

Rexford Industrial Realty, Inc.

     100,186        5,976,095  

STAG Industrial, Inc.

     92,287        3,121,146  

Terreno Realty Corp.

     39,193        2,531,868  
     

 

 

 
Total Industrial REITs

 

     24,577,022  
Insurance – 5.9%

 

American Financial Group, Inc.

     83,865        10,189,597  

Assurant, Inc.

     64,143        7,701,650  

CNA Financial Corp.

     523,728        20,441,104  

Erie Indemnity Co., Class A

     40,181        9,308,330  

Fidelity National Financial, Inc.

     659,263        23,028,057  

First American Financial Corp.

     221,086        12,305,647  

Globe Life, Inc.

     58,498        6,435,950  

Hanover Insurance Group, Inc.

     62,521        8,033,949  

Kemper Corp.

     93,380        5,104,151  

Kinsale Capital Group, Inc.

     12,345        3,705,352  

Loews Corp.

     123,845        7,185,487  

Old Republic International Corp.

     896,858        22,394,544  

Primerica, Inc.

     50,585        8,712,760  

Reinsurance Group of America, Inc.

     119,009        15,799,635  

RLI Corp.

     36,114        4,799,912  

Selective Insurance Group, Inc.

     70,156        6,687,971  

Unum Group

     477,943        18,907,425  
     

 

 

 
Total Insurance

 

     190,741,521  
Leisure Products – 1.0%

 

Brunswick Corp.

     87,497        7,174,754  

Hasbro, Inc.

     310,462        16,668,705  

Polaris, Inc.

     75,975        8,405,114  
     

 

 

 
Total Leisure Products

 

     32,248,573  
Life Sciences Tools & Services – 0.2%

 

Bruker Corp.

     75,130        5,923,249  
Machinery – 4.6%

 

AGCO Corp.

     38,546        5,211,419  

Allison Transmission Holdings, Inc.

     156,987        7,102,092  

Crane Holdings Co.

     61,289        6,956,302  

Donaldson Co., Inc.

     156,657        10,235,968  

Flowserve Corp.

     203,891        6,932,294  

Franklin Electric Co., Inc.

     46,750        4,399,175  

 

See Notes to Financial Statements.

 

WisdomTree Trust      55  


Schedule of Investments (continued)

WisdomTree U.S. MidCap Dividend Fund (DON)

March 31, 2023

 

 

 

Investments    Shares      Value  

Graco, Inc.

     164,499      $ 12,010,072  

ITT, Inc.

     90,234        7,787,194  

Lincoln Electric Holdings, Inc.

     80,612        13,631,489  

Mueller Industries, Inc.

     82,613        6,070,403  

Nordson Corp.

     49,214        10,938,304  

Oshkosh Corp.

     66,189        5,505,601  

Snap-on, Inc.

     107,441        26,526,109  

Timken Co.

     108,356        8,854,852  

Toro Co.

     93,320        10,373,451  

Watts Water Technologies, Inc., Class A

     23,569        3,967,134  
     

 

 

 
Total Machinery

 

     146,501,859  
Media – 2.9%

 

Cable One, Inc.

     6,235        4,376,970  

Interpublic Group of Cos., Inc.

     681,639        25,384,236  

New York Times Co., Class A

     121,099        4,708,329  

News Corp., Class A

     367,453        6,345,913  

Nexstar Media Group, Inc.

     60,551        10,454,736  

Paramount Global, Class B

     1,571,045        35,050,014  

TEGNA, Inc.

     371,666        6,284,872  
     

 

 

 
Total Media

 

     92,605,070  
Metals & Mining – 1.4%

 

Alcoa Corp.

     102,417        4,358,867  

Commercial Metals Co.

     133,202        6,513,578  

Reliance Steel & Aluminum Co.

     76,847        19,729,699  

Royal Gold, Inc.

     74,908        9,716,317  

United States Steel Corp.

     137,532        3,589,585  
     

 

 

 
Total Metals & Mining

 

     43,908,046  
Multi-Utilities – 0.9%

 

Black Hills Corp.

     132,527        8,362,454  

NiSource, Inc.

     706,208        19,745,575  
     

 

 

 
Total Multi-Utilities

 

     28,108,029  
Office REITs – 0.1%

 

Cousins Properties, Inc.

     78,087        1,669,500  

Kilroy Realty Corp.

     66,741        2,162,408  
     

 

 

 
Total Office REITs

 

     3,831,908  
Oil, Gas & Consumable Fuels – 6.9%

 

Antero Midstream Corp.

     1,550,010        16,259,605  

APA Corp.

     356,538        12,856,760  

Chesapeake Energy Corp.(a)

     455,825        34,660,933  

Chord Energy Corp.

     142,585        19,191,941  

Civitas Resources, Inc.

     289,508        19,784,977  

Comstock Resources, Inc.(a)

     647,046        6,981,626  

CVR Energy, Inc.

     353,089        11,574,257  

DTE Midstream LLC

     226,370        11,175,887  

EQT Corp.

     315,414        10,064,861  

Equitrans Midstream Corp.

     1,430,686        8,269,365  

HF Sinclair Corp.

     315,252        15,251,892  

Magnolia Oil & Gas Corp., Class A

     270,387        5,916,068  

Matador Resources Co.

     76,833        3,661,093  

Murphy Oil Corp.

     279,228        10,325,851  

Ovintiv, Inc.

     255,678        9,224,862  

PBF Energy, Inc., Class A

     238,848        10,356,449  

PDC Energy, Inc.

     108,415      6,958,075  

Range Resources Corp.

     200,529        5,308,003  

SM Energy Co.

     124,595        3,508,595  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     221,331,100  
Paper & Forest Products – 0.1%

 

Louisiana-Pacific Corp.

     69,102        3,746,019  
Pharmaceuticals – 1.4%

 

Organon & Co.

     799,045        18,793,539  

Viatris, Inc.

     2,631,499        25,315,020  
     

 

 

 
Total Pharmaceuticals

 

     44,108,559  
Professional Services – 2.8%

 

Booz Allen Hamilton Holding Corp.

     112,203        10,400,096  

Concentrix Corp.

     34,883        4,240,029  

Dun & Bradstreet Holdings, Inc.

     393,645        4,621,392  

Exponent, Inc.

     44,445        4,430,722  

Insperity, Inc.

     59,378        7,217,396  

KBR, Inc.

     83,546        4,599,207  

Leidos Holdings, Inc.

     96,992        8,929,084  

ManpowerGroup, Inc.

     127,997        10,563,592  

Maximus, Inc.

     63,272        4,979,506  

Robert Half International, Inc.

     136,275        10,979,677  

Science Applications International Corp.

     63,270        6,798,994  

SS&C Technologies Holdings, Inc.

     206,686        11,671,559  
     

 

 

 
Total Professional Services

 

     89,431,254  
Residential REITs – 1.8%

 

American Homes 4 Rent, Class A

     180,907        5,689,525  

Apartment Income REIT Corp.

     229,979        8,235,548  

Camden Property Trust

     68,660        7,198,315  

Equity LifeStyle Properties, Inc.

     95,380        6,402,860  

Essex Property Trust, Inc.

     75,293        15,746,778  

Independence Realty Trust, Inc.

     116,208        1,862,814  

UDR, Inc.

     313,372        12,867,054  
     

 

 

 
Total Residential REITs

 

     58,002,894  
Retail REITs – 2.7%

 

Agree Realty Corp.

     44,453        3,049,920  

Brixmor Property Group, Inc.

     501,658        10,795,680  

Federal Realty Investment Trust

     131,321        12,978,455  

Kimco Realty Corp.

     737,148        14,396,501  

Kite Realty Group Trust

     120,310        2,516,885  

National Retail Properties, Inc.

     370,989        16,379,164  

Phillips Edison & Co., Inc.

     56,332        1,837,550  

Regency Centers Corp.

     155,895        9,537,656  

Spirit Realty Capital, Inc.

     384,814        15,330,990  
     

 

 

 
Total Retail REITs

 

     86,822,801  
Semiconductors & Semiconductor Equipment – 1.6%

 

Amkor Technology, Inc.

     181,188        4,714,512  

MKS Instruments, Inc.

     47,443        4,204,399  

Power Integrations, Inc.

     43,283        3,663,473  

Skyworks Solutions, Inc.

     213,790        25,222,944  

Teradyne, Inc.

     79,013        8,494,687  

Universal Display Corp.

     34,299        5,320,804  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     51,620,819  

 

See Notes to Financial Statements.

 

56   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. MidCap Dividend Fund (DON)

March 31, 2023

 

 

 

Investments    Shares      Value  
Software – 0.8%

 

Bentley Systems, Inc., Class B

     139,198      $ 5,984,122  

Dolby Laboratories, Inc., Class A

     78,230        6,682,407  

Gen Digital, Inc.

     707,388        12,138,778  
     

 

 

 
Total Software

 

     24,805,307  
Specialized REITs – 2.7%

 

CubeSmart

     391,861        18,111,815  

Gaming & Leisure Properties, Inc.

     451,929        23,527,424  

Lamar Advertising Co., Class A

     199,201        19,898,188  

Life Storage, Inc.

     145,358        19,054,980  

National Storage Affiliates Trust

     47,243        1,973,813  

PotlatchDeltic Corp.

     43,360        2,146,320  

Rayonier, Inc.

     79,597        2,647,396  
     

 

 

 
Total Specialized REITs

 

     87,359,936  
Specialty Retail – 2.5%

 

Academy Sports & Outdoors, Inc.

     63,546        4,146,377  

Advance Auto Parts, Inc.

     122,490        14,896,009  

Bath & Body Works, Inc.

     226,223        8,275,237  

Dick’s Sporting Goods, Inc.

     59,735        8,475,799  

Foot Locker, Inc.

     214,283        8,504,892  

Gap, Inc.

     781,895        7,850,226  

Lithia Motors, Inc.

     16,620        3,804,817  

Murphy USA, Inc.

     13,165        3,397,228  

Penske Automotive Group, Inc.

     72,920        10,340,785  

Williams-Sonoma, Inc.

     98,054        11,929,250  
     

 

 

 
Total Specialty Retail

 

     81,620,620  
Technology Hardware, Storage & Peripherals – 0.7%

 

NetApp, Inc.

     337,849        21,571,659  
Textiles, Apparel & Luxury Goods – 1.0%

 

Columbia Sportswear Co.

     54,927        4,956,613  

PVH Corp.

     31,753        2,831,098  

Ralph Lauren Corp.

     63,132        7,365,610  

Tapestry, Inc.

     402,474        17,350,654  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     32,503,975  
Trading Companies & Distributors – 1.8%

 

Air Lease Corp.

     143,649      5,655,461  

Applied Industrial Technologies, Inc.

     40,281        5,725,139  

GATX Corp.

     42,241        4,647,355  

Herc Holdings, Inc.

     34,798        3,963,492  

MSC Industrial Direct Co., Inc., Class A

     141,455        11,882,220  

Watsco, Inc.(a)

     85,731        27,276,175  
     

 

 

 
Total Trading Companies & Distributors

 

     59,149,842  
Water Utilities – 0.5%

 

American States Water Co.

     38,408        3,414,087  

Essential Utilities, Inc.

     325,195        14,194,762  
     

 

 

 
Total Water Utilities

 

     17,608,849  
Total United States

 

     3,202,992,675  
Puerto Rico – 0.3%

 

Banks – 0.3%

 

Popular, Inc.

     188,150        10,801,692  

TOTAL COMMON STOCKS

(Cost: $3,080,090,129)

 

 

     3,213,794,367  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.1%

 

United States – 0.1%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(b)

     
(Cost: $1,799,191)      1,799,191        1,799,191  

TOTAL INVESTMENTS IN SECURITIES – 99.9%

(Cost: $3,081,889,320)

 

 

     3,215,593,558  

Other Assets less Liabilities – 0.1%

 

     4,409,601  
     

 

 

 
NET ASSETS – 100.0%

 

   $ 3,220,003,159  
(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $64,721,996 and the total market value of the collateral held by the Fund was $65,798,353. The total market value of the collateral includes non-cash U.S. Government and U.S. Government Agencies securities collateral having a value of $63,999,162.

 

(b) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

INVESTMENT IN AFFILIATES               

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate    Value at
3/31/2022
     Purchases/
Additions
     Sales/
Reductions
     Realized
Gain/(Loss)
     Change in
Unrealized
Appreciation/
Depreciation
     Value at
3/31/2023
     Dividend
Income
 

WisdomTree U.S. LargeCap Dividend Fund^

   $ 643,530      $ 31,423,578      $ 32,368,462      $ 442,018      $ (140,664    $      $ 86,766  
^ 

As of March 31, 2023, the Fund did not hold a position in this affiliate.

 

See Notes to Financial Statements.

 

WisdomTree Trust      57  


Schedule of Investments (concluded)

WisdomTree U.S. MidCap Dividend Fund (DON)

March 31, 2023

 

FAIR VALUATION SUMMARY               

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

     

Quoted

Prices in

Active

Markets
(Level 1)

     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

     

Investments in Securities

  

Common Stocks

   $ 3,213,794,367      $      $      $ 3,213,794,367  

Investment of Cash Collateral for Securities Loaned

            1,799,191               1,799,191  

Total Investments in Securities

   $ 3,213,794,367      $ 1,799,191      $      $ 3,215,593,558  

 

See Notes to Financial Statements.

 

58   WisdomTree Trust


Schedule of Investments

WisdomTree U.S. MidCap Fund (EZM)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.8%

 

United States – 99.4%

 

Aerospace & Defense – 0.9%

 

Aerojet Rocketdyne Holdings, Inc.*

     7,149      $ 401,559  

BWX Technologies, Inc.

     15,904        1,002,588  

Curtiss-Wright Corp.

     5,604        987,761  

Hexcel Corp.

     6,710        457,958  

Huntington Ingalls Industries, Inc.

     7,717        1,597,573  

Mercury Systems, Inc.*(a)

     7,233        369,751  

Moog, Inc., Class A

     6,162        620,822  

Parsons Corp.*

     14,900        666,626  

Woodward, Inc.

     5,392        525,019  
     

 

 

 
Total Aerospace & Defense

 

     6,629,657  
Air Freight & Logistics – 0.4%

 

Forward Air Corp.

     5,441        586,322  

GXO Logistics, Inc.*(a)

     22,881        1,154,576  

Hub Group, Inc., Class A*

     13,949        1,170,879  
     

 

 

 
Total Air Freight & Logistics

 

     2,911,777  
Automobile Components – 0.8%

 

Dorman Products, Inc.*

     5,327        459,507  

Fox Factory Holding Corp.*

     6,434        780,895  

Gentex Corp.

     33,233        931,521  

Goodyear Tire & Rubber Co.*

     146,958        1,619,477  

Lear Corp.

     9,405        1,311,903  

Visteon Corp.*

     3,496        548,278  
     

 

 

 
Total Automobile Components

 

     5,651,581  
Automobiles – 0.7%

 

Harley-Davidson, Inc.

     48,296        1,833,799  

Thor Industries, Inc.

     39,914        3,178,751  
     

 

 

 
Total Automobiles

 

     5,012,550  
Banks – 6.3%

 

Ameris Bancorp

     21,642        791,664  

Associated Banc-Corp.(a)

     44,884        807,014  

Atlantic Union Bankshares Corp.

     17,790        623,540  

BancFirst Corp.

     5,469        454,474  

Bank of Hawaii Corp.(a)

     7,956        414,348  

Bank OZK

     36,766        1,257,397  

BankUnited, Inc.

     30,760        694,561  

BOK Financial Corp.

     14,598        1,232,217  

Cadence Bank

     37,412        776,673  

Cathay General Bancorp

     24,094        831,725  

Columbia Banking System, Inc.

     55,971        1,198,899  

Comerica, Inc.

     45,321        1,967,838  

Commerce Bancshares, Inc.

     21,910        1,278,449  

Community Bank System, Inc.

     10,940        574,241  

Cullen/Frost Bankers, Inc.

     10,676        1,124,610  

CVB Financial Corp.

     21,974        366,526  

Eastern Bankshares, Inc.

     33,022        416,738  

First Financial Bankshares, Inc.

     20,631        658,129  

First Hawaiian, Inc.

     30,661        632,536  

First Interstate BancSystem, Inc., Class A

     12,707        379,431  

First Merchants Corp.

     14,028        462,223  

FNB Corp.(a)

     108,209      $ 1,255,224  

Fulton Financial Corp.

     42,893        592,781  

Glacier Bancorp, Inc.

     16,634        698,794  

Hancock Whitney Corp.

     30,416        1,107,142  

Home BancShares, Inc.

     42,199        916,140  

Independent Bank Corp.

     8,968        588,480  

Independent Bank Group, Inc.

     9,617        445,748  

International Bancshares Corp.

     14,582        624,401  

New York Community Bancorp, Inc.(a)

     211,073        1,908,100  

Old National Bancorp

     71,304        1,028,204  

Pacific Premier Bancorp, Inc.

     24,052        577,729  

PacWest Bancorp

     64,314        625,775  

Pinnacle Financial Partners, Inc.

     21,707        1,197,358  

Prosperity Bancshares, Inc.

     21,792        1,340,644  

ServisFirst Bancshares, Inc.

     10,128        553,293  

Simmons First National Corp., Class A

     42,213        738,305  

SouthState Corp.(a)

     17,902        1,275,697  

Synovus Financial Corp.

     57,470        1,771,800  

Texas Capital Bancshares, Inc.*

     9,260        453,370  

UMB Financial Corp.

     13,199        761,846  

United Bankshares, Inc.(a)

     28,104        989,261  

United Community Banks, Inc.

     24,545        690,205  

Valley National Bancorp(a)

     152,354        1,407,751  

Webster Financial Corp.

     45,885        1,808,787  

Western Alliance Bancorp

     48,566        1,726,036  

Wintrust Financial Corp.

     16,229        1,183,906  

WSFS Financial Corp.

     16,851        633,766  

Zions Bancorp NA

     50,166        1,501,468  
     

 

 

 
Total Banks

 

     45,345,244  
Beverages – 0.4%

 

Boston Beer Co., Inc., Class A*(a)

     871        286,298  

Coca-Cola Consolidated, Inc.

     2,812        1,504,645  

MGP Ingredients, Inc.

     2,673        258,533  

National Beverage Corp.*

     10,198        537,638  
     

 

 

 
Total Beverages

 

     2,587,114  
Biotechnology – 0.7%

 

Arrowhead Pharmaceuticals, Inc.*

     8,894        225,908  

Exelixis, Inc.*

     55,601        1,079,215  

Halozyme Therapeutics, Inc.*(a)

     13,672        522,134  

Ionis Pharmaceuticals, Inc.*(a)

     12,152        434,312  

Vir Biotechnology, Inc.*

     105,147        2,446,771  
     

 

 

 
Total Biotechnology

 

     4,708,340  
Broadline Retail – 1.2%

 

Dillard’s, Inc., Class A

     7,885        2,426,057  

Kohl’s Corp.

     57,136        1,344,981  

Macy’s, Inc.

     195,982        3,427,725  

Nordstrom, Inc.

     56,159        913,707  

Ollie’s Bargain Outlet Holdings, Inc.*

     6,574        380,898  
     

 

 

 
Total Broadline Retail

 

     8,493,368  
Building Products – 3.8%

 

A.O. Smith Corp.

     25,702        1,777,293  

AAON, Inc.

     4,727        457,054  

 

See Notes to Financial Statements.

 

WisdomTree Trust      59  


Schedule of Investments (continued)

WisdomTree U.S. MidCap Fund (EZM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Advanced Drainage Systems, Inc.(a)

     15,592      $ 1,313,002  

Armstrong World Industries, Inc.

     9,901        705,347  

AZEK Co., Inc.*

     26,433        622,233  

Builders FirstSource, Inc.*

     113,824        10,105,295  

Fortune Brands Innovations, Inc.

     40,462        2,376,333  

Lennox International, Inc.

     5,658        1,421,742  

Masterbrand, Inc.*

     40,462        325,315  

Owens Corning

     41,456        3,971,485  

Simpson Manufacturing Co., Inc.

     11,549        1,266,233  

Trex Co., Inc.*

     17,242        839,168  

UFP Industries, Inc.

     24,979        1,985,081  

Zurn Elkay Water Solutions Corp.

     19,823        423,419  
     

 

 

 
Total Building Products

 

     27,589,000  
Capital Markets – 2.5%

 

Affiliated Managers Group, Inc.

     15,722        2,239,127  

Blue Owl Capital, Inc.

     62,302        690,306  

Cohen & Steers, Inc.

     10,051        642,862  

Evercore, Inc., Class A

     17,686        2,040,611  

Federated Hermes, Inc.

     21,531        864,254  

Hamilton Lane, Inc., Class A

     9,595        709,838  

Houlihan Lokey, Inc.

     13,670        1,195,988  

Interactive Brokers Group, Inc., Class A

     14,033        1,158,565  

Jefferies Financial Group, Inc.

     82,210        2,609,346  

Moelis & Co., Class A

     16,073        617,846  

SEI Investments Co.

     27,692        1,593,675  

Stifel Financial Corp.

     36,424        2,152,294  

Tradeweb Markets, Inc., Class A

     18,550        1,465,821  
     

 

 

 
Total Capital Markets

 

     17,980,533  
Chemicals – 2.8%

 

Ashland, Inc.

     9,410        966,501  

Avient Corp.

     26,967        1,109,962  

Balchem Corp.

     3,290        416,119  

Cabot Corp.

     15,940        1,221,642  

Chemours Co.

     85,628        2,563,702  

Element Solutions, Inc.

     56,784        1,096,499  

H.B. Fuller Co.

     9,358        640,555  

Huntsman Corp.

     93,838        2,567,408  

Ingevity Corp.*

     9,929        710,122  

Innospec, Inc.

     4,150        426,080  

Livent Corp.*(a)

     25,943        563,482  

NewMarket Corp.

     1,861        679,228  

Olin Corp.

     78,495        4,356,472  

Quaker Chemical Corp.

     1,759        348,194  

Scotts Miracle-Gro Co.(a)

     12,205        851,177  

Sensient Technologies Corp.

     7,015        537,068  

Valvoline, Inc.

     35,138        1,227,722  
     

 

 

 
Total Chemicals

 

     20,281,933  
Commercial Services & Supplies – 0.8%

 

ABM Industries, Inc.

     17,839        801,685  

Brink’s Co.

     12,665        846,022  

Casella Waste Systems, Inc., Class A*

     3,964        327,664  

Clean Harbors, Inc.*

     9,279        1,322,814  

Driven Brands Holdings, Inc.*

     19,565        593,015  

MSA Safety, Inc.

     4,511      602,218  

Stericycle, Inc.*

     8,888        387,606  

Tetra Tech, Inc.

     5,035        739,692  

UniFirst Corp.

     2,065        363,915  
     

 

 

 
Total Commercial Services & Supplies

 

     5,984,631  
Communications Equipment – 0.8%

 

Calix, Inc.*

     5,687        304,766  

Ciena Corp.*(a)

     21,313        1,119,359  

Extreme Networks, Inc.*

     16,416        313,874  

F5, Inc.*

     12,671        1,846,038  

Lumentum Holdings, Inc.*(a)

     24,378        1,316,656  

NetScout Systems, Inc.*

     12,487        357,752  

ViaSat, Inc.*(a)

     6,339        214,512  
     

 

 

 
Total Communications Equipment

 

     5,472,957  
Construction & Engineering – 1.0%

 

API Group Corp.*

     50,880        1,143,782  

Arcosa, Inc.

     5,988        377,903  

Comfort Systems USA, Inc.

     5,065        739,287  

Dycom Industries, Inc.*

     4,358        408,127  

EMCOR Group, Inc.

     8,344        1,356,651  

Fluor Corp.*

     11,420        352,992  

MasTec, Inc.*

     9,958        940,434  

MDU Resources Group, Inc.

     37,023        1,128,461  

Valmont Industries, Inc.

     2,853        910,906  
     

 

 

 
Total Construction & Engineering

 

     7,358,543  
Construction Materials – 0.3%

 

Eagle Materials, Inc.

     10,015        1,469,701  

Summit Materials, Inc., Class A*

     16,856        480,228  
     

 

 

 
Total Construction Materials

 

     1,949,929  
Consumer Finance – 2.0%

 

Ally Financial, Inc.

     239,832        6,113,318  

Credit Acceptance Corp.*(a)

     4,143        1,806,514  

FirstCash Holdings, Inc.

     7,752        739,308  

Nelnet, Inc., Class A

     8,794        808,081  

OneMain Holdings, Inc.

     79,419        2,944,856  

SLM Corp.

     154,038        1,908,531  
     

 

 

 
Total Consumer Finance

 

     14,320,608  
Consumer Staples Distribution & Retail – 0.8%

 

Casey’s General Stores, Inc.

     5,289        1,144,857  

Grocery Outlet Holding Corp.*(a)

     10,849        306,593  

Performance Food Group Co.*

     26,505        1,599,312  

Sprouts Farmers Market, Inc.*(a)

     25,479        892,529  

U.S. Foods Holding Corp.*

     39,404        1,455,584  

United Natural Foods, Inc.*

     17,484        460,703  
     

 

 

 
Total Consumer Staples Distribution & Retail

 

     5,859,578  
Containers & Packaging – 2.1%

 

AptarGroup, Inc.

     6,768        799,910  

Berry Global Group, Inc.

     48,299        2,844,811  

Graphic Packaging Holding Co.

     84,310        2,149,062  

Greif, Inc., Class A

     20,573        1,303,711  

Sealed Air Corp.

     35,855        1,646,103  

 

See Notes to Financial Statements.

 

60   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. MidCap Fund (EZM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Silgan Holdings, Inc.

     26,137      $ 1,402,773  

Sonoco Products Co.

     29,650        1,808,650  

Westrock Co.

     102,030        3,108,854  
     

 

 

 
Total Containers & Packaging

 

     15,063,874  
Diversified Consumer Services – 0.6%

 

ADT, Inc.

     81,794        591,370  

Bright Horizons Family Solutions, Inc.*

     7,388        568,802  

Chegg, Inc.*

     21,583        351,803  

Grand Canyon Education, Inc.*

     5,401        615,174  

H&R Block, Inc.(a)

     43,359        1,528,405  

Mister Car Wash, Inc.*(a)

     44,695        385,271  
     

 

 

 
Total Diversified Consumer Services

 

     4,040,825  
Diversified REITs – 0.1%

 

Broadstone Net Lease, Inc.

     25,759        438,160  

Essential Properties Realty Trust, Inc.

     20,008        497,199  
     

 

 

 
Total Diversified REITs

 

     935,359  
Diversified Telecommunication Services – 0.6%

 

Cogent Communications Holdings, Inc.

     4,173        265,904  

Frontier Communications Parent, Inc.*(a)

     54,916        1,250,437  

Iridium Communications, Inc.

     10,555        653,671  

Lumen Technologies, Inc.(a)

     812,789        2,153,891  
     

 

 

 
Total Diversified Telecommunication Services

 

     4,323,903  
Electric Utilities – 1.1%

 

ALLETE, Inc.

     8,846        569,417  

Hawaiian Electric Industries, Inc.

     20,220        776,448  

IDACORP, Inc.

     7,783        843,132  

MGE Energy, Inc.

     4,889        379,729  

OGE Energy Corp.

     49,417        1,861,044  

Pinnacle West Capital Corp.

     21,818        1,728,858  

PNM Resources, Inc.

     13,830        673,245  

Portland General Electric Co.

     15,491        757,355  
     

 

 

 
Total Electric Utilities

 

     7,589,228  
Electrical Equipment – 1.7%

 

Acuity Brands, Inc.

     7,126        1,302,134  

Array Technologies, Inc.*(a)

     12,520        273,938  

Atkore, Inc.*

     23,496        3,300,718  

Encore Wire Corp.

     14,208        2,633,169  

EnerSys

     8,237        715,631  

Regal Rexnord Corp.

     17,240        2,426,185  

Shoals Technologies Group, Inc., Class A*(a)

     11,080        252,513  

SunPower Corp.*(a)

     15,390        212,998  

Sunrun, Inc.*(a)

     18,783        378,477  

Vertiv Holdings Co.

     31,117        445,284  
     

 

 

 
Total Electrical Equipment

 

     11,941,047  
Electronic Equipment, Instruments & Components – 3.0%

 

Advanced Energy Industries, Inc.

     7,566        741,468  

Arrow Electronics, Inc.*

     42,111        5,258,401  

Avnet, Inc.

     51,140        2,311,528  

Badger Meter, Inc.

     2,862        348,649  

Belden, Inc.

     10,135        879,414  

Cognex Corp.

     15,125        749,444  

Coherent Corp.*(a)

     39,644      1,509,643  

Insight Enterprises, Inc.*(a)

     9,428        1,347,827  

IPG Photonics Corp.*

     9,792        1,207,451  

Littelfuse, Inc.

     5,437        1,457,605  

National Instruments Corp.

     19,554        1,024,825  

Plexus Corp.*

     3,730        363,936  

Sanmina Corp.*

     14,139        862,338  

Vishay Intertechnology, Inc.

     59,750        1,351,545  

Vontier Corp.

     83,030        2,270,040  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     21,684,114  
Energy Equipment & Services – 0.3%

 

Cactus, Inc., Class A

     7,129        293,929  

ChampionX Corp.

     24,708        670,328  

Helmerich & Payne, Inc.

     9,443        337,587  

Liberty Energy, Inc.

     43,539        557,734  

NOV, Inc.

     34,025        629,803  
     

 

 

 
Total Energy Equipment & Services

 

     2,489,381  
Entertainment – 0.8%

 

Endeavor Group Holdings, Inc., Class A*(a)

     116,168        2,779,900  

Madison Square Garden Sports Corp.

     1,751        341,182  

Warner Music Group Corp., Class A

     55,608        1,855,639  

World Wrestling Entertainment, Inc., Class A

     8,684        792,502  
     

 

 

 
Total Entertainment

 

     5,769,223  
Financial Services – 3.0%

 

Enact Holdings, Inc.

     85,561        1,955,925  

Euronet Worldwide, Inc.*

     11,369        1,272,191  

Jackson Financial, Inc., Class A

     64,942        2,429,480  

MGIC Investment Corp.

     215,250        2,888,655  

Mr. Cooper Group, Inc.*

     18,430        755,077  

PennyMac Financial Services, Inc.(a)

     32,079        1,912,229  

Radian Group, Inc.

     124,421        2,749,704  

TFS Financial Corp.(a)

     24,021        303,385  

Voya Financial, Inc.(a)

     39,597        2,829,602  

Walker & Dunlop, Inc.

     9,341        711,504  

Western Union Co.

     171,648        1,913,875  

WEX, Inc.*

     10,619        1,952,728  
     

 

 

 
Total Financial Services

 

     21,674,355  
Food Products – 1.1%

 

Flowers Foods, Inc.

     30,024        822,958  

Hostess Brands, Inc.*

     17,438        433,857  

Ingredion, Inc.

     14,925        1,518,320  

J & J Snack Foods Corp.

     1,476        218,773  

Lancaster Colony Corp.

     2,834        574,962  

Pilgrim’s Pride Corp.*(a)

     125,090        2,899,586  

Post Holdings, Inc.*

     5,701        512,349  

Simply Good Foods Co.*

     13,153        523,095  

TreeHouse Foods, Inc.*

     4,196        211,604  
     

 

 

 
Total Food Products

 

     7,715,504  
Gas Utilities – 0.8%

 

National Fuel Gas Co.

     25,047        1,446,214  

New Jersey Resources Corp.

     16,984        903,549  

ONE Gas, Inc.

     9,272        734,620  

 

See Notes to Financial Statements.

 

WisdomTree Trust      61  


Schedule of Investments (continued)

WisdomTree U.S. MidCap Fund (EZM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Southwest Gas Holdings, Inc.

     6,602      $ 412,295  

Spire, Inc.

     10,500        736,470  

UGI Corp.

     50,110        1,741,824  
     

 

 

 
Total Gas Utilities

 

     5,974,972  
Ground Transportation – 2.9%

 

Avis Budget Group, Inc.*

     35,085        6,834,558  

Hertz Global Holdings, Inc.*(a)

     261,159        4,254,280  

Knight-Swift Transportation Holdings, Inc.

     50,513        2,858,026  

Landstar System, Inc.

     7,758        1,390,699  

Ryder System, Inc.

     28,630        2,554,941  

Saia, Inc.*(a)

     4,907        1,335,097  

Werner Enterprises, Inc.

     17,018        774,149  

XPO, Inc.*

     34,728        1,107,823  
     

 

 

 
Total Ground Transportation

 

     21,109,573  
Health Care Equipment & Supplies – 1.8%

 

Dentsply Sirona, Inc.

     47,943        1,883,201  

Enovis Corp.*

     7,902        422,678  

Envista Holdings Corp.*(a)

     31,373        1,282,528  

Globus Medical, Inc., Class A*

     9,907        561,132  

Haemonetics Corp.*

     5,613        464,476  

ICU Medical, Inc.*(a)

     3,531        582,474  

Integra LifeSciences Holdings Corp.*

     14,563        836,062  

Lantheus Holdings, Inc.*

     12,233        1,009,957  

Masimo Corp.*

     5,686        1,049,294  

Merit Medical Systems, Inc.*

     7,809        577,476  

Neogen Corp.*

     20,956        388,105  

QuidelOrtho Corp.*

     33,939        3,023,626  

Shockwave Medical, Inc.*(a)

     3,123        677,160  

STAAR Surgical Co.*(a)

     3,673        234,888  
     

 

 

 
Total Health Care Equipment & Supplies

 

     12,993,057  
Health Care Providers & Services – 2.5%

 

Acadia Healthcare Co., Inc.*

     11,172        807,177  

AdaptHealth Corp.*(a)

     18,425        229,023  

Amedisys, Inc.*

     4,995        367,382  

AMN Healthcare Services, Inc.*

     14,234        1,180,853  

Chemed Corp.

     1,814        975,478  

CorVel Corp.*

     1,739        330,897  

DaVita, Inc.*

     30,294        2,457,146  

Encompass Health Corp.

     20,003        1,082,162  

Ensign Group, Inc.

     8,579        819,638  

HealthEquity, Inc.*

     6,777        397,878  

Option Care Health, Inc.*

     18,877        599,722  

Patterson Cos., Inc.

     21,173        566,801  

Premier, Inc., Class A

     25,010        809,574  

Progyny, Inc.*

     7,132        229,080  

R1 RCM, Inc.*(a)

     65,975        989,625  

Select Medical Holdings Corp.(a)

     22,170        573,094  

Tenet Healthcare Corp.*

     55,218        3,281,054  

Universal Health Services, Inc., Class B

     17,862        2,270,260  
     

 

 

 
Total Health Care Providers & Services

 

     17,966,844  
Health Care REITs – 0.7%

 

Healthcare Realty Trust, Inc.

     33,850        654,320  

Medical Properties Trust, Inc.(a)

     296,180      2,434,599  

Omega Healthcare Investors, Inc.(a)

     45,997        1,260,778  

Physicians Realty Trust

     28,620        427,297  
     

 

 

 
Total Health Care REITs

 

     4,776,994  
Health Care Technology – 0.2%

 

Certara, Inc.*(a)

     13,717        330,717  

Doximity, Inc., Class A*(a)

     15,067        487,869  

Evolent Health, Inc., Class A*

     10,737        348,416  
     

 

 

 
Total Health Care Technology

 

     1,167,002  
Hotel & Resort REITs – 0.2%

 

Apple Hospitality REIT, Inc.

     29,292        454,612  

Park Hotels & Resorts, Inc.

     24,415        301,769  

Ryman Hospitality Properties, Inc.

     4,767        427,743  
     

 

 

 
Total Hotel & Resort REITs

 

     1,184,124  
Hotels, Restaurants & Leisure – 2.6%

 

Boyd Gaming Corp.

     33,129        2,124,231  

Choice Hotels International, Inc.

     7,271        852,089  

Churchill Downs, Inc.

     4,419        1,135,904  

Hilton Grand Vacations, Inc.*

     29,368        1,304,820  

Krispy Kreme, Inc.

     14,414        224,138  

Light & Wonder, Inc.*(a)

     70,756        4,248,898  

Marriott Vacations Worldwide Corp.(a)

     9,641        1,300,185  

Papa John’s International, Inc.(a)

     4,408        330,291  

Penn Entertainment, Inc.*(a)

     20,634        612,004  

Planet Fitness, Inc., Class A*

     6,240        484,661  

Red Rock Resorts, Inc., Class A

     19,347        862,296  

SeaWorld Entertainment, Inc.*

     17,572        1,077,339  

Texas Roadhouse, Inc.

     9,143        987,993  

Travel & Leisure Co.

     31,026        1,216,219  

Wendy’s Co.

     25,010        544,718  

Wingstop, Inc.(a)

     2,564        470,699  

Wyndham Hotels & Resorts, Inc.

     15,595        1,058,121  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     18,834,606  
Household Durables – 3.2%

 

KB Home

     66,406        2,668,193  

Leggett & Platt, Inc.

     29,855        951,777  

Meritage Homes Corp.

     27,353        3,193,736  

Mohawk Industries, Inc.*

     29,153        2,921,714  

Skyline Champion Corp.*

     24,609        1,851,335  

Taylor Morrison Home Corp.*

     81,296        3,110,385  

Tempur Sealy International, Inc.

     53,014        2,093,523  

Toll Brothers, Inc.

     65,548        3,934,847  

TopBuild Corp.*

     10,143        2,111,164  
     

 

 

 
Total Household Durables

 

     22,836,674  
Household Products – 0.1%

 

Reynolds Consumer Products, Inc.(a)

     27,406        753,665  
Independent Power & Renewable Electricity Producers – 0.3%

 

Clearway Energy, Inc., Class C

     53,401        1,673,053  

Ormat Technologies, Inc.(a)

     4,401        373,073  
     

 

 

 
Total Independent Power & Renewable Electricity Producers

 

     2,046,126  

 

See Notes to Financial Statements.

 

62   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. MidCap Fund (EZM)

March 31, 2023

 

 

 

Investments    Shares      Value  
Industrial REITs – 0.7%

 

EastGroup Properties, Inc.

     4,113      $ 679,961  

First Industrial Realty Trust, Inc.

     23,417        1,245,785  

Innovative Industrial Properties, Inc.

     3,869        294,005  

LXP Industrial Trust

     99,080        1,021,515  

STAG Industrial, Inc.

     23,215        785,131  

Terreno Realty Corp.

     9,857        636,762  
     

 

 

 
Total Industrial REITs

 

     4,663,159  
Insurance – 2.9%

 

American Equity Investment Life Holding Co.

     28,092        1,025,077  

Assurant, Inc.

     13,358        1,603,895  

Brighthouse Financial, Inc.*

     43,260        1,908,199  

CNO Financial Group, Inc.

     41,015        910,123  

First American Financial Corp.

     27,826        1,548,795  

Hanover Insurance Group, Inc.

     7,627        980,070  

Kinsale Capital Group, Inc.

     1,934        580,490  

Old Republic International Corp.

     110,205        2,751,819  

Primerica, Inc.

     9,625        1,657,810  

Reinsurance Group of America, Inc.

     15,744        2,090,173  

RLI Corp.

     4,958        658,968  

Ryan Specialty Holdings, Inc.*(a)

     15,334        617,040  

Selective Insurance Group, Inc.

     11,192        1,066,933  

Unum Group

     84,716        3,351,365  
     

 

 

 
Total Insurance

 

     20,750,757  
Interactive Media & Services – 0.2%

 

Bumble, Inc., Class A*

     11,055        216,125  

TripAdvisor, Inc.*

     15,856        314,900  

Ziff Davis, Inc.*(a)

     10,638        830,296  
     

 

 

 
Total Interactive Media & Services

 

     1,361,321  
IT Services – 0.4%

 

DigitalOcean Holdings, Inc.*(a)

     10,016        392,327  

DXC Technology Co.*

     90,129        2,303,697  

Thoughtworks Holding, Inc.*(a)

     48,315        355,598  
     

 

 

 
Total IT Services

 

     3,051,622  
Leisure Products – 1.3%

 

Acushnet Holdings Corp.

     13,313        678,164  

Brunswick Corp.

     30,378        2,490,996  

Hasbro, Inc.

     29,316        1,573,976  

Mattel, Inc.*

     97,293        1,791,164  

Polaris, Inc.

     15,876        1,756,362  

Topgolf Callaway Brands Corp.*(a)

     27,289        589,988  

YETI Holdings, Inc.*(a)

     15,843        633,720  
     

 

 

 
Total Leisure Products

 

     9,514,370  
Life Sciences Tools & Services – 0.6%

 

10X Genomics, Inc., Class A*

     8,876        495,192  

Azenta, Inc.*

     5,379        240,011  

Bio-Techne Corp.

     12,233        907,566  

Medpace Holdings, Inc.*(a)

     3,529        663,629  

Syneos Health, Inc.*

     46,078        1,641,298  
     

 

 

 
Total Life Sciences Tools & Services

 

     3,947,696  
Machinery – 2.9%

 

Albany International Corp., Class A

     3,490      311,866  

Allison Transmission Holdings, Inc.

     35,496        1,605,839  

Chart Industries, Inc.*(a)

     3,502        439,151  

Crane Holdings Co.

     12,449        1,412,961  

Donaldson Co., Inc.

     19,140        1,250,608  

Esab Corp.

     15,822        934,606  

Evoqua Water Technologies Corp.*

     10,272        510,724  

Federal Signal Corp.

     6,727        364,671  

Flowserve Corp.

     13,003        442,102  

Franklin Electric Co., Inc.

     7,198        677,332  

Hillenbrand, Inc.

     18,485        878,592  

ITT, Inc.

     12,650        1,091,695  

John Bean Technologies Corp.

     5,129        560,548  

Lincoln Electric Holdings, Inc.

     10,033        1,696,580  

Middleby Corp.*(a)

     10,629        1,558,318  

Mueller Industries, Inc.

     29,057        2,135,108  

Oshkosh Corp.

     7,475        621,771  

RBC Bearings, Inc.*

     2,432        565,999  

SPX Technologies, Inc.*

     5,902        416,563  

Terex Corp.

     18,307        885,693  

Timken Co.

     18,924        1,546,469  

Watts Water Technologies, Inc., Class A

     4,672        786,391  
     

 

 

 
Total Machinery

 

     20,693,587  
Marine Transportation – 0.0%

 

Kirby Corp.*

     4,986        347,524  
Media – 0.9%

 

Cable One, Inc.

     1,666        1,169,532  

New York Times Co., Class A

     17,028        662,049  

Nexstar Media Group, Inc.(a)

     17,504        3,022,241  

TEGNA, Inc.

     84,841        1,434,661  
     

 

 

 
Total Media

 

     6,288,483  
Metals & Mining – 3.5%

 

Alcoa Corp.

     95,277        4,054,989  

Alpha Metallurgical Resources, Inc.

     12,719        1,984,164  

ATI, Inc.*(a)

     24,075        950,000  

Cleveland-Cliffs, Inc.*(a)

     376,823        6,907,166  

Commercial Metals Co.

     61,448        3,004,807  

Hecla Mining Co.

     45,619        288,768  

MP Materials Corp.*(a)

     29,897        842,796  

Royal Gold, Inc.

     7,528        976,457  

United States Steel Corp.

     176,878        4,616,516  

Worthington Industries, Inc.

     17,697        1,144,111  
     

 

 

 
Total Metals & Mining

 

     24,769,774  
Multi-Utilities – 0.2%

 

Avista Corp.

     9,898        420,170  

Black Hills Corp.

     12,482        787,614  

NorthWestern Corp.

     9,434        545,852  
     

 

 

 
Total Multi-Utilities

 

     1,753,636  
Office REITs – 0.5%

 

Corporate Office Properties Trust

     15,349        363,925  

Cousins Properties, Inc.

     41,273        882,417  

 

See Notes to Financial Statements.

 

WisdomTree Trust      63  


Schedule of Investments (continued)

WisdomTree U.S. MidCap Fund (EZM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Douglas Emmett, Inc.

     23,461      $ 289,274  

Equity Commonwealth

     7,913        163,878  

Highwoods Properties, Inc.

     30,884        716,200  

Kilroy Realty Corp.

     15,782        511,337  

Vornado Realty Trust

     22,650        348,130  
     

 

 

 
Total Office REITs

 

     3,275,161  
Oil, Gas & Consumable Fuels – 7.0%

 

Antero Midstream Corp.

     96,643        1,013,785  

Arch Resources, Inc.

     14,080        1,850,957  

California Resources Corp.

     32,751        1,260,914  

Callon Petroleum Co.*(a)

     49,238        1,646,519  

Chord Energy Corp.

     15,102        2,032,729  

Civitas Resources, Inc.(a)

     43,953        3,003,748  

CNX Resources Corp.*(a)

     50,356        806,703  

Comstock Resources, Inc.(a)

     167,358        1,805,793  

CONSOL Energy, Inc.

     16,473        959,882  

CVR Energy, Inc.(a)

     38,017        1,246,197  

Denbury, Inc.*

     11,587        1,015,369  

DTE Midstream LLC

     20,704        1,022,157  

Equitrans Midstream Corp.

     57,922        334,789  

HighPeak Energy, Inc.

     26,842        617,366  

Magnolia Oil & Gas Corp., Class A

     100,188        2,192,113  

Matador Resources Co.

     56,759        2,704,566  

Murphy Oil Corp.

     52,144        1,928,285  

Northern Oil & Gas, Inc.(a)

     45,838        1,391,183  

PBF Energy, Inc., Class A

     104,726        4,540,919  

PDC Energy, Inc.

     65,343        4,193,714  

Peabody Energy Corp.*(a)

     115,278        2,951,117  

Permian Resources Corp.

     192,151        2,017,586  

Range Resources Corp.

     140,498        3,718,982  

SM Energy Co.

     67,965        1,913,894  

Southwestern Energy Co.*

     732,193        3,660,965  

Vitesse Energy, Inc.

     9,670        184,020  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     50,014,252  
Paper & Forest Products – 0.4%

 

Louisiana-Pacific Corp.

     52,622        2,852,639  
Passenger Airlines – 0.2%

 

Alaska Air Group, Inc.*

     30,209        1,267,570  
Personal Care Products – 0.5%

 

BellRing Brands, Inc.*

     13,175        447,950  

Coty, Inc., Class A*

     101,920        1,229,155  

elf Beauty, Inc.*

     4,481        369,010  

Inter Parfums, Inc.

     3,103        441,371  

Olaplex Holdings, Inc.*(a)

     174,471        744,991  
     

 

 

 
Total Personal Care Products

 

     3,232,477  
Pharmaceuticals – 0.7%

 

Corcept Therapeutics, Inc.*

     16,677        361,224  

Harmony Biosciences Holdings, Inc.*

     8,619        281,410  

Organon & Co.

     161,107        3,789,237  

Prestige Consumer Healthcare, Inc.*

     10,239        641,268  
     

 

 

 
Total Pharmaceuticals

 

     5,073,139  
Professional Services – 2.5%

 

Alight, Inc., Class A*

     83,030      764,706  

ASGN, Inc.*

     12,371        1,022,711  

CACI International, Inc., Class A*

     4,374        1,295,929  

Concentrix Corp.

     15,682        1,906,147  

Dun & Bradstreet Holdings, Inc.

     106,619        1,251,707  

EXL Service Holdings, Inc.*

     3,851        623,207  

Exponent, Inc.

     3,690        367,856  

FTI Consulting, Inc.*(a)

     4,642        916,099  

Insperity, Inc.

     5,280        641,784  

KBR, Inc.(a)

     24,531        1,350,432  

Korn Ferry

     18,975        981,767  

ManpowerGroup, Inc.

     16,246        1,340,782  

Maximus, Inc.

     9,529        749,932  

Robert Half International, Inc.

     27,171        2,189,167  

Science Applications International Corp.

     11,323        1,216,770  

TriNet Group, Inc.*

     19,694        1,587,533  
     

 

 

 
Total Professional Services

 

     18,206,529  
Real Estate Management & Development – 0.6%

 

Howard Hughes Corp.*

     10,793        863,440  

Jones Lang LaSalle, Inc.*

     18,766        2,730,265  

Zillow Group, Inc., Class C*(a)

     21,154        940,719  
     

 

 

 
Total Real Estate Management & Development

 

     4,534,424  
Residential REITs – 0.4%

 

Apartment Income REIT Corp.

     76,434        2,737,102  
Retail REITs – 0.6%

 

Agree Realty Corp.

     6,729        461,677  

Brixmor Property Group, Inc.

     43,521        936,572  

Federal Realty Investment Trust

     10,837        1,071,021  

National Retail Properties, Inc.

     21,491        948,828  

Phillips Edison & Co., Inc.

     8,409        274,301  

Spirit Realty Capital, Inc.

     19,524        777,836  
     

 

 

 
Total Retail REITs

 

     4,470,235  
Semiconductors & Semiconductor Equipment – 2.4%

 

Allegro MicroSystems, Inc.*

     17,728        850,767  

Amkor Technology, Inc.

     92,858        2,416,165  

Axcelis Technologies, Inc.*

     6,411        854,266  

Cirrus Logic, Inc.*

     18,779        2,054,047  

Diodes, Inc.*

     11,725        1,087,611  

Impinj, Inc.*(a)

     2,302        311,967  

MACOM Technology Solutions Holdings, Inc.*

     9,756        691,115  

MaxLinear, Inc.*

     29,175        1,027,252  

MKS Instruments, Inc.

     22,714        2,012,915  

Onto Innovation, Inc.*

     10,456        918,873  

Power Integrations, Inc.

     8,939        756,597  

Rambus, Inc.*

     9,944        509,729  

Silicon Laboratories, Inc.*(a)

     3,800        665,342  

Synaptics, Inc.*

     18,192        2,022,041  

Universal Display Corp.

     5,074        787,129  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     16,965,816  
Software – 2.3%

 

Blackbaud, Inc.*

     6,425        445,252  

 

See Notes to Financial Statements.

 

64   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. MidCap Fund (EZM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Blackline, Inc.*

     5,147      $ 345,621  

Box, Inc., Class A*

     18,875        505,661  

CCC Intelligent Solutions Holdings, Inc.*(a)

     66,606        597,456  

CommVault Systems, Inc.*

     6,302        357,575  

Cvent Holding Corp.*

     48,706        407,182  

DocuSign, Inc.*

     28,469        1,659,743  

Dolby Laboratories, Inc., Class A

     8,703        743,410  

DoubleVerify Holdings, Inc.*

     14,900        449,235  

Dropbox, Inc., Class A*

     78,451        1,696,111  

EngageSmart, Inc.*

     16,261        313,024  

Envestnet, Inc.*(a)

     5,964        349,908  

Five9, Inc.*

     5,899        426,439  

Gitlab, Inc., Class A*(a)

     8,007        274,560  

Informatica, Inc., Class A*

     42,016        689,062  

Instructure Holdings, Inc.*

     20,161        522,170  

Jamf Holding Corp.*(a)

     10,485        203,619  

Manhattan Associates, Inc.*

     4,767        738,170  

nCino, Inc.*

     9,660        239,375  

NCR Corp.*

     48,944        1,154,589  

Paycor HCM, Inc.*(a)

     16,042        425,434  

PowerSchool Holdings, Inc., Class A*

     19,763        391,703  

Procore Technologies, Inc.*

     12,636        791,393  

Qualys, Inc.*

     3,890        505,778  

RingCentral, Inc., Class A*

     16,203        496,946  

SPS Commerce, Inc.*

     3,125        475,937  

Tenable Holdings, Inc.*(a)

     8,313        394,951  

Teradata Corp.*

     17,197        692,695  

Workiva, Inc.*

     3,957        405,236  
     

 

 

 
Total Software

 

     16,698,235  
Specialized REITs – 0.9%

 

CubeSmart

     19,172        886,130  

EPR Properties

     12,822        488,518  

Lamar Advertising Co., Class A

     15,657        1,563,978  

Life Storage, Inc.

     9,860        1,292,547  

National Storage Affiliates Trust

     8,547        357,094  

Outfront Media, Inc.

     28,482        462,263  

PotlatchDeltic Corp.

     24,047        1,190,326  

Rayonier, Inc.

     12,469        414,719  
     

 

 

 
Total Specialized REITs

 

     6,655,575  
Specialty Retail – 6.1%

 

Academy Sports & Outdoors, Inc.

     42,112        2,747,808  

Advance Auto Parts, Inc.

     15,268        1,856,742  

American Eagle Outfitters, Inc.

     33,929        456,006  

Asbury Automotive Group, Inc.*

     13,658        2,868,180  

AutoNation, Inc.*

     36,988        4,969,708  

Dick’s Sporting Goods, Inc.

     35,181        4,991,832  

Five Below, Inc.*

     4,239        873,107  

Floor & Decor Holdings, Inc., Class A*(a)

     12,060        1,184,533  

Foot Locker, Inc.

     41,876        1,662,058  

Gap, Inc.

     29,168        292,847  

Group 1 Automotive, Inc.

     10,815        2,448,732  

Leslie’s, Inc.*

     41,038        451,828  

Lithia Motors, Inc.(a)

     18,587        4,255,122  

Murphy USA, Inc.(a)

     7,020      1,811,511  

National Vision Holdings, Inc.*

     6,533        123,082  

Penske Automotive Group, Inc.

     34,532        4,896,983  

RH*(a)

     9,748        2,374,125  

Urban Outfitters, Inc.*(a)

     19,049        528,038  

Victoria’s Secret & Co.*(a)

     34,198        1,167,862  

Williams-Sonoma, Inc.

     31,233        3,799,807  
     

 

 

 
Total Specialty Retail

 

     43,759,911  
Technology Hardware, Storage & Peripherals – 0.4%

 

Pure Storage, Inc., Class A*

     36,984        943,462  

Super Micro Computer, Inc.*

     16,741        1,783,753  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     2,727,215  
Textiles, Apparel & Luxury Goods – 2.1%

 

Carter’s, Inc.(a)

     11,264        810,107  

Columbia Sportswear Co.

     10,977        990,565  

Crocs, Inc.*

     19,919        2,518,558  

PVH Corp.

     28,925        2,578,953  

Ralph Lauren Corp.

     14,547        1,697,199  

Skechers U.S.A., Inc., Class A*

     28,695        1,363,586  

Steven Madden Ltd.

     24,005        864,180  

Tapestry, Inc.

     72,901        3,142,762  

Under Armour, Inc., Class A*

     121,025        1,148,527  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     15,114,437  
Trading Companies & Distributors – 2.2%

 

Applied Industrial Technologies, Inc.

     7,371        1,047,640  

Beacon Roofing Supply, Inc.*

     26,743        1,573,826  

Boise Cascade Co.

     30,409        1,923,369  

Core & Main, Inc., Class A*(a)

     61,514        1,420,973  

GATX Corp.

     5,802        638,336  

Herc Holdings, Inc.

     7,733        880,789  

MSC Industrial Direct Co., Inc., Class A

     12,401        1,041,684  

Rush Enterprises, Inc., Class A

     19,470        1,063,062  

SiteOne Landscape Supply, Inc.*(a)

     7,813        1,069,365  

Univar Solutions, Inc.*

     53,865        1,886,891  

WESCO International, Inc.

     20,063        3,100,536  
     

 

 

 
Total Trading Companies & Distributors

 

     15,646,471  
Water Utilities – 0.1%

 

American States Water Co.

     3,532        313,959  

California Water Service Group

     6,090        354,438  
     

 

 

 
Total Water Utilities

 

     668,397  
Total United States

 

     712,049,307  
Ghana – 0.2%

 

Oil, Gas & Consumable Fuels – 0.2%

 

Kosmos Energy Ltd.*

     214,991        1,599,533  
Singapore – 0.2%

 

Semiconductors & Semiconductor Equipment – 0.2%

 

Kulicke & Soffa Industries, Inc.

     29,281        1,542,816  
TOTAL COMMON STOCKS
(Cost: $701,184,724)

 

     715,191,656  

 

See Notes to Financial Statements.

 

WisdomTree Trust      65  


Schedule of Investments (concluded)

WisdomTree U.S. MidCap Fund (EZM)

March 31, 2023

 

 

 

Investments    Shares      Value  
EXCHANGE-TRADED FUND – 0.1%

 

United States – 0.1%

 

WisdomTree U.S. MidCap Dividend Fund(b)

     
(Cost: $664,572)      16,719      $ 685,145  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.2%

 

United States – 0.2%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(c)

     
(Cost: $1,406,966)      1,406,966        1,406,966  
TOTAL INVESTMENTS IN SECURITIES – 100.1%
(Cost: $703,256,262)

 

     717,283,767  

Other Assets less Liabilities – (0.1)%

        (591,956
     

 

 

 
NET ASSETS – 100.0%

 

   $ 716,691,811  
* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $91,298,940 and the total market value of the collateral held by the Fund was $91,523,223. The total market value of the collateral includes non-cash U.S. Government and U.S. Government Agencies securities collateral having a value of $90,116,257.

 

(b) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

    

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate    Value at
3/31/2022
     Purchases/
Additions
     Sales/
Reductions
     Realized
Gain/(Loss)
     Change in
Unrealized
Appreciation/
Depreciation
     Value at
3/31/2023
     Dividend
Income
 

WisdomTree U.S. MidCap Dividend Fund

   $ 2,294,204      $ 5,960,982      $ 7,132,910      $ (297,087    $ (140,044    $ 685,145      $ 67,519  

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

  

Investments in Securities

     

Common Stocks

   $ 715,191,656      $      $      $ 715,191,656  

Exchange-Traded Fund

     685,145                      685,145  

Investment of Cash Collateral for Securities Loaned

            1,406,966               1,406,966  

Total Investments in Securities

   $ 715,876,801      $ 1,406,966      $      $ 717,283,767  

 

See Notes to Financial Statements.

 

66   WisdomTree Trust


Schedule of Investments

WisdomTree U.S. Multifactor Fund (USMF)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.8%

 

United States – 99.8%

 

Aerospace & Defense – 1.2%

 

General Dynamics Corp.

     4,772      $ 1,089,018  

Huntington Ingalls Industries, Inc.

     4,840        1,001,977  

Lockheed Martin Corp.

     2,243        1,060,333  
     

 

 

 
Total Aerospace & Defense

 

     3,151,328  
Air Freight & Logistics – 0.7%

 

C.H. Robinson Worldwide, Inc.

     8,610        855,576  

Expeditors International of Washington, Inc.

     8,025        883,713  
     

 

 

 
Total Air Freight & Logistics

 

     1,739,289  
Automobile Components – 0.4%

 

BorgWarner, Inc.

     22,100        1,085,331  
Automobiles – 0.3%

 

Harley-Davidson, Inc.

     17,540        665,994  
Beverages – 0.7%

 

Molson Coors Beverage Co., Class B

     15,723        812,565  

PepsiCo, Inc.

     5,700        1,039,110  
     

 

 

 
Total Beverages

 

     1,851,675  
Biotechnology – 4.0%

 

AbbVie, Inc.

     8,355        1,331,536  

Amgen, Inc.

     5,205        1,258,309  

Biogen, Inc.*

     2,108        586,087  

Gilead Sciences, Inc.

     14,929        1,238,659  

Halozyme Therapeutics, Inc.*

     16,978        648,390  

Incyte Corp.*

     14,738        1,065,115  

Moderna, Inc.*

     3,518        540,294  

Neurocrine Biosciences, Inc.*

     8,431        853,386  

Regeneron Pharmaceuticals, Inc.*

     1,130        928,487  

United Therapeutics Corp.*

     4,299        962,804  

Vertex Pharmaceuticals, Inc.*

     3,293        1,037,526  
     

 

 

 
Total Biotechnology

 

     10,450,593  
Broadline Retail – 0.5%

 

Dillard’s, Inc., Class A

     2,189        673,511  

Macy’s, Inc.

     31,051        543,082  
     

 

 

 
Total Broadline Retail

 

     1,216,593  
Building Products – 0.5%

 

Builders FirstSource, Inc.*

     6,511        578,047  

Carlisle Cos., Inc.

     3,420        773,159  
     

 

 

 
Total Building Products

 

     1,351,206  
Capital Markets – 2.0%

 

Cboe Global Markets, Inc.

     14,784        1,984,604  

Charles Schwab Corp.

     15,564        815,242  

Interactive Brokers Group, Inc., Class A

     16,206        1,337,967  

LPL Financial Holdings, Inc.

     4,821        975,771  
     

 

 

 
Total Capital Markets

 

     5,113,584  
Chemicals – 0.5%

 

CF Industries Holdings, Inc.

     8,670        628,488  

Mosaic Co.

     11,997        550,423  
     

 

 

 
Total Chemicals

 

     1,178,911  
Commercial Services & Supplies – 0.4%

 

Clean Harbors, Inc.*

     6,482      924,074  
Communications Equipment – 1.2%

 

Cisco Systems, Inc.

     60,210        3,147,478  
Construction & Engineering – 0.8%

 

EMCOR Group, Inc.

     6,289        1,022,529  

Valmont Industries, Inc.

     2,944        939,960  
     

 

 

 
Total Construction & Engineering

 

     1,962,489  
Consumer Staples Distribution & Retail – 1.0%

 

Albertsons Cos., Inc., Class A

     36,972        768,278  

Casey’s General Stores, Inc.

     4,245        918,873  

Kroger Co.

     17,809        879,230  
     

 

 

 
Total Consumer Staples Distribution & Retail

 

     2,566,381  
Containers & Packaging – 0.9%

 

Graphic Packaging Holding Co.

     46,009        1,172,770  

Silgan Holdings, Inc.

     23,484        1,260,386  
     

 

 

 
Total Containers & Packaging

 

     2,433,156  
Distributors – 0.6%

 

Genuine Parts Co.

     9,311        1,557,823  
Diversified Consumer Services – 1.3%

 

ADT, Inc.

     123,696        894,322  

H&R Block, Inc.

     32,181        1,134,380  

Service Corp. International

     20,460        1,407,239  
     

 

 

 
Total Diversified Consumer Services

 

     3,435,941  
Diversified Telecommunication Services – 1.6%

 

AT&T, Inc.

     100,360        1,931,930  

Verizon Communications, Inc.

     61,152        2,378,201  
     

 

 

 
Total Diversified Telecommunication Services

 

     4,310,131  
Electric Utilities – 1.1%

 

Evergy, Inc.

     16,223        991,550  

OGE Energy Corp.

     28,514        1,073,837  

PG&E Corp.*

     47,569        769,191  
     

 

 

 
Total Electric Utilities

 

     2,834,578  
Electrical Equipment – 0.5%

 

Acuity Brands, Inc.

     4,162        760,522  

Atkore, Inc.*

     4,024        565,292  
     

 

 

 
Total Electrical Equipment

 

     1,325,814  
Electronic Equipment, Instruments & Components – 2.0%

 

Arrow Electronics, Inc.*

     21,943        2,740,022  

Jabil, Inc.

     29,788        2,626,110  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     5,366,132  
Entertainment – 2.5%

 

Activision Blizzard, Inc.

     28,185        2,412,354  

Electronic Arts, Inc.

     17,743        2,137,144  

World Wrestling Entertainment, Inc., Class A

     22,017        2,009,272  
     

 

 

 
Total Entertainment

 

     6,558,770  
Financial Services – 6.9%

 

Fiserv, Inc.*

     26,562        3,002,303  

FleetCor Technologies, Inc.*

     11,413        2,406,431  

 

See Notes to Financial Statements.

 

WisdomTree Trust      67  


Schedule of Investments (continued)

WisdomTree U.S. Multifactor Fund (USMF)

March 31, 2023

 

 

 

Investments    Shares      Value  

Jack Henry & Associates, Inc.

     21,048      $ 3,172,355  

MasterCard, Inc., Class A

     7,996        2,905,826  

Visa, Inc., Class A

     14,222        3,206,492  

Voya Financial, Inc.(a)

     17,911        1,279,920  

WEX, Inc.*

     11,744        2,159,604  
     

 

 

 
Total Financial Services

 

     18,132,931  
Food Products – 4.0%

 

Archer-Daniels-Midland Co.

     10,117        805,920  

Campbell Soup Co.

     18,159        998,382  

Conagra Brands, Inc.

     26,523        996,204  

Flowers Foods, Inc.

     35,123        962,721  

General Mills, Inc.

     12,326        1,053,380  

Hershey Co.

     4,001        1,017,894  

Ingredion, Inc.

     9,417        957,991  

J.M. Smucker Co.

     6,342        998,041  

Kellogg Co.

     14,710        984,982  

Kraft Heinz Co.

     23,762        918,877  

Lamb Weston Holdings, Inc.

     8,066        843,058  
     

 

 

 
Total Food Products

 

     10,537,450  
Gas Utilities – 0.3%

 

UGI Corp.

     22,644        787,105  
Ground Transportation – 0.4%

 

Landstar System, Inc.

     5,291        948,465  
Health Care Equipment & Supplies – 0.6%

 

Hologic, Inc.*

     13,316        1,074,601  

QuidelOrtho Corp.*

     6,618        589,598  
     

 

 

 
Total Health Care Equipment & Supplies

 

     1,664,199  
Health Care Providers & Services – 7.0%

 

Acadia Healthcare Co., Inc.*

     10,903        787,742  

AmerisourceBergen Corp.

     7,527        1,205,148  

Cardinal Health, Inc.

     14,277        1,077,913  

Centene Corp.*

     13,861        876,154  

Chemed Corp.

     2,306        1,240,051  

Cigna Group

     4,156        1,061,983  

CVS Health Corp.

     14,331        1,064,937  

Elevance Health, Inc.

     2,356        1,083,312  

Encompass Health Corp.

     15,359        830,922  

HCA Healthcare, Inc.

     2,795        736,986  

Henry Schein, Inc.*

     14,384        1,172,871  

Humana, Inc.

     2,274        1,103,936  

Laboratory Corp. of America Holdings

     4,249        974,806  

McKesson Corp.

     3,602        1,282,492  

Molina Healthcare, Inc.*

     3,678        983,828  

Option Care Health, Inc.*

     19,154        608,523  

Quest Diagnostics, Inc.

     8,669        1,226,490  

UnitedHealth Group, Inc.

     2,423        1,145,085  
     

 

 

 
Total Health Care Providers & Services

 

     18,463,179  
Health Care REITs – 0.5%

 

Omega Healthcare Investors, Inc.

     50,499        1,384,178  
Hotel & Resort REITs – 0.4%

 

Host Hotels & Resorts, Inc.

     63,728        1,050,875  
Hotels, Restaurants & Leisure – 3.1%

 

Booking Holdings, Inc.*

     355      941,606  

Boyd Gaming Corp.

     16,097        1,032,140  

Choice Hotels International, Inc.

     9,833        1,152,329  

Darden Restaurants, Inc.

     8,729        1,354,392  

McDonald’s Corp.

     6,027        1,685,209  

Texas Roadhouse, Inc.

     9,989        1,079,411  

Wyndham Hotels & Resorts, Inc.

     14,878        1,009,472  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     8,254,559  
Household Durables – 1.1%

 

D.R. Horton, Inc.

     9,810        958,339  

Lennar Corp., Class A

     9,743        1,024,087  

PulteGroup, Inc.

     16,482        960,571  
     

 

 

 
Total Household Durables

 

     2,942,997  
Household Products – 0.8%

 

Colgate-Palmolive Co.

     12,758        958,764  

Kimberly-Clark Corp.

     7,724        1,036,715  
     

 

 

 
Total Household Products

 

     1,995,479  
Independent Power & Renewable Electricity Producers – 0.3%

 

Vistra Corp.

     34,092        818,208  
Insurance – 8.3%

 

Aflac, Inc.

     25,485        1,644,292  

American International Group, Inc.

     24,261        1,221,784  

CNA Financial Corp.

     41,766        1,630,127  

Fidelity National Financial, Inc.

     37,393        1,306,137  

Globe Life, Inc.

     15,448        1,699,589  

Loews Corp.

     29,587        1,716,638  

Old Republic International Corp.

     64,431        1,608,842  

Primerica, Inc.

     7,575        1,304,718  

Reinsurance Group of America, Inc.

     11,579        1,537,228  

RLI Corp.

     13,258        1,762,121  

Selective Insurance Group, Inc.

     17,358        1,654,738  

Travelers Cos., Inc.

     10,199        1,748,210  

Unum Group

     32,712        1,294,087  

W.R. Berkley Corp.

     28,360        1,765,694  
     

 

 

 
Total Insurance

 

     21,894,205  
IT Services – 7.2%

 

Akamai Technologies, Inc.*

     37,848        2,963,498  

Cognizant Technology Solutions Corp., Class A

     41,376        2,521,040  

DXC Technology Co.*

     66,170        1,691,305  

Gartner, Inc.*

     8,393        2,734,188  

GoDaddy, Inc., Class A*

     33,262        2,585,123  

International Business Machines Corp.

     29,289        3,839,495  

VeriSign, Inc.*

     12,722        2,688,540  
     

 

 

 
Total IT Services

 

     19,023,189  
Life Sciences Tools & Services – 0.2%

 

Medpace Holdings, Inc.*

     2,571        483,476  
Machinery – 1.6%

 

AGCO Corp.

     5,133        693,982  

Caterpillar, Inc.

     3,572        817,416  

Deere & Co.

     1,962        810,070  

 

See Notes to Financial Statements.

 

68   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. Multifactor Fund (USMF)

March 31, 2023

 

 

 

Investments    Shares      Value  

PACCAR, Inc.

     14,379      $ 1,052,543  

Timken Co.

     8,998        735,317  
     

 

 

 
Total Machinery

 

     4,109,328  
Media – 3.0%

 

Charter Communications, Inc., Class A*

     3,469        1,240,549  

Fox Corp., Class A

     56,046        1,908,366  

Liberty Media Corp. – Liberty SiriusXM, Class C*

     65,469        1,832,477  

New York Times Co., Class A

     35,346        1,374,253  

Nexstar Media Group, Inc.

     9,480        1,636,817  
     

 

 

 
Total Media

 

     7,992,462  
Metals & Mining – 1.2%

 

Commercial Metals Co.

     16,469        805,334  

Nucor Corp.

     4,190        647,229  

Reliance Steel & Aluminum Co.

     4,290        1,101,415  

Steel Dynamics, Inc.

     6,209        701,989  
     

 

 

 
Total Metals & Mining

 

     3,255,967  
Multi-Utilities – 1.1%

 

Consolidated Edison, Inc.

     11,085        1,060,502  

DTE Energy Co.

     8,839        968,224  

Public Service Enterprise Group, Inc.

     15,654        977,592  
     

 

 

 
Total Multi-Utilities

 

     3,006,318  
Oil, Gas & Consumable Fuels – 4.5%

 

Antero Resources Corp.*

     28,637        661,228  

Chesapeake Energy Corp.

     10,676        811,803  

Chord Energy Corp.

     6,198        834,251  

Civitas Resources, Inc.

     11,340        774,976  

EQT Corp.

     23,979        765,170  

Exxon Mobil Corp.

     10,682        1,171,388  

HF Sinclair Corp.

     18,254        883,129  

Marathon Petroleum Corp.

     9,240        1,245,829  

Ovintiv, Inc.

     16,578        598,134  

PBF Energy, Inc., Class A

     18,123        785,813  

PDC Energy, Inc.

     11,340        727,801  

Phillips 66

     9,953        1,009,035  

Southwestern Energy Co.*

     132,940        664,700  

Valero Energy Corp.

     7,091        989,904  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     11,923,161  
Pharmaceuticals – 2.4%

 

Bristol-Myers Squibb Co.

     19,580        1,357,090  

Elanco Animal Health, Inc.*

     56,299        529,211  

Johnson & Johnson

     7,955        1,233,025  

Merck & Co., Inc.

     12,354        1,314,342  

Organon & Co.

     31,451        739,727  

Pfizer, Inc.

     29,585        1,207,068  
     

 

 

 
Total Pharmaceuticals

 

     6,380,463  
Professional Services – 2.8%

 

Booz Allen Hamilton Holding Corp.

     10,701        991,875  

CACI International, Inc., Class A*

     3,818        1,131,197  

Concentrix Corp.

     17,954        2,182,309  

Leidos Holdings, Inc.

     12,063        1,110,520  

Robert Half International, Inc.

     9,237        744,225  

Science Applications International Corp.

     10,256      1,102,110  
     

 

 

 
Total Professional Services

 

     7,262,236  
Residential REITs – 0.6%

 

Apartment Income REIT Corp.

     41,375        1,481,639  
Retail REITs – 0.6%

 

National Retail Properties, Inc.

     37,498        1,655,537  
Semiconductors & Semiconductor Equipment – 2.4%

 

Allegro MicroSystems, Inc.*

     40,114        1,925,071  

Amkor Technology, Inc.

     60,776        1,581,392  

Cirrus Logic, Inc.*

     25,125        2,748,172  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     6,254,635  
Software – 7.9%

 

Black Knight, Inc.*

     55,224        3,178,693  

Dolby Laboratories, Inc., Class A

     40,153        3,429,869  

Dropbox, Inc., Class A*

     116,380        2,516,136  

Fair Isaac Corp.*

     2,587        1,817,859  

Gen Digital, Inc.

     139,688        2,397,046  

Oracle Corp.

     34,240        3,181,581  

Palo Alto Networks, Inc.*

     9,402        1,877,956  

PTC, Inc.*

     18,839        2,415,725  
     

 

 

 
Total Software

 

     20,814,865  
Specialized REITs – 0.6%

 

Gaming & Leisure Properties, Inc.

     30,655        1,595,899  
Specialty Retail – 3.4%

 

AutoNation, Inc.*

     6,945        933,130  

AutoZone, Inc.*

     596        1,465,057  

Murphy USA, Inc.

     5,616        1,449,209  

O’Reilly Automotive, Inc.*

     1,774        1,506,091  

Penske Automotive Group, Inc.

     6,997        992,245  

TJX Cos., Inc.

     16,567        1,298,190  

Ulta Beauty, Inc.*

     2,350        1,282,324  
     

 

 

 
Total Specialty Retail

 

     8,926,246  
Tobacco – 0.4%

 

Altria Group, Inc.

     21,009        937,422  
Trading Companies & Distributors – 0.7%

 

Univar Solutions, Inc.*

     23,882        836,587  

W.W. Grainger, Inc.

     1,346        927,138  
     

 

 

 
Total Trading Companies & Distributors

 

     1,763,725  
Wireless Telecommunication Services – 0.8%

 

T-Mobile US, Inc.*

     14,134        2,047,169  
TOTAL INVESTMENTS IN SECURITIES – 99.8%
(Cost: $254,341,710)

 

     262,014,838  

Other Assets less Liabilities – 0.2%

        549,018  
     

 

 

 
NET ASSETS – 100.0%

 

   $ 262,563,856  
* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan was $1,192,096 and the total market value of the collateral held by the Fund was $1,196,507, which was entirely composed of non-cash U.S. Government securities.

 

See Notes to Financial Statements.

 

WisdomTree Trust      69  


Schedule of Investments (concluded)

WisdomTree U.S. Multifactor Fund (USMF)

March 31, 2023

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

  

Investments in Securities

     

Common Stocks

   $ 262,014,838      $      $      $ 262,014,838  

Total Investments in Securities

   $ 262,014,838      $      $      $ 262,014,838  

 

See Notes to Financial Statements.

 

70   WisdomTree Trust


Schedule of Investments

WisdomTree U.S. Quality Dividend Growth Fund (DGRW)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.8%

 

United States – 99.8%

 

Aerospace & Defense – 1.7%

 

BWX Technologies, Inc.

     39,346      $ 2,480,372  

Curtiss-Wright Corp.

     8,739        1,540,336  

General Dynamics Corp.

     155,445        35,474,104  

HEICO Corp.

     13,611        2,328,025  

Hexcel Corp.

     13,933        950,927  

Howmet Aerospace, Inc.

     51,526        2,183,157  

Huntington Ingalls Industries, Inc.

     24,009        4,970,343  

Lockheed Martin Corp.

     178,763        84,506,633  

Textron, Inc.

     26,518        1,872,966  

Woodward, Inc.

     10,334        1,006,222  
     

 

 

 
Total Aerospace & Defense

 

     137,313,085  
Air Freight & Logistics – 2.2%

 

FedEx Corp.

     187,110        42,752,764  

United Parcel Service, Inc., Class B

     683,290        132,551,427  
     

 

 

 
Total Air Freight & Logistics

 

     175,304,191  
Automobile Components – 0.2%

 

BorgWarner, Inc.

     108,118        5,309,675  

Gentex Corp.

     115,456        3,236,232  

Lear Corp.

     35,027        4,885,916  
     

 

 

 
Total Automobile Components

 

     13,431,823  
Banks – 2.5%

 

First Citizens BancShares, Inc., Class A

     2,334        2,271,215  

First Interstate BancSystem, Inc., Class A(a)

     114,908        3,431,153  

M&T Bank Corp.

     141,383        16,905,165  

U.S. Bancorp

     1,786,988        64,420,918  

Wells Fargo & Co.

     2,917,745        109,065,308  

Western Alliance Bancorp

     72,922        2,591,648  
     

 

 

 
Total Banks

 

     198,685,407  
Beverages – 5.0%

 

Brown-Forman Corp., Class B

     145,559        9,355,077  

Coca-Cola Co.

     3,321,495        206,032,335  

Coca-Cola Consolidated, Inc.

     1,198        641,026  

Constellation Brands, Inc., Class A

     63,661        14,380,383  

PepsiCo, Inc.

     955,734        174,230,308  
     

 

 

 
Total Beverages

 

     404,639,129  
Biotechnology – 1.2%

 

Amgen, Inc.

     402,040        97,193,170  
Broadline Retail – 0.2%

 

eBay, Inc.

     301,924        13,396,368  
Building Products – 0.3%

 

A.O. Smith Corp.

     71,026        4,911,448  

AAON, Inc.

     5,251        507,719  

Advanced Drainage Systems, Inc.(a)

     15,055        1,267,782  

Carlisle Cos., Inc.

     16,490        3,727,894  

Carrier Global Corp.

     305,710        13,986,232  

Lennox International, Inc.

     13,778        3,462,136  
     

 

 

 
Total Building Products

 

     27,863,211  
Capital Markets – 5.3%

 

Ameriprise Financial, Inc.

     46,586      14,278,609  

Bank of New York Mellon Corp.

     745,355        33,868,931  

Charles Schwab Corp.

     544,230        28,506,768  

Evercore, Inc., Class A

     30,330        3,499,475  

FactSet Research Systems, Inc.

     8,725        3,621,660  

Goldman Sachs Group, Inc.

     253,766        83,009,396  

Houlihan Lokey, Inc.

     28,115        2,459,781  

Interactive Brokers Group, Inc., Class A

     18,074        1,492,190  

Jefferies Financial Group, Inc.

     200,308        6,357,776  

LPL Financial Holdings, Inc.

     13,665        2,765,796  

MarketAxess Holdings, Inc.

     9,703        3,796,687  

Moody’s Corp.

     49,618        15,184,100  

Morgan Stanley

     1,618,517        142,105,793  

Morningstar, Inc.

     6,784        1,377,356  

MSCI, Inc.

     22,231        12,442,468  

Nasdaq, Inc.

     154,124        8,425,959  

S&P Global, Inc.

     87,835        30,282,873  

SEI Investments Co.

     54,685        3,147,122  

Stifel Financial Corp.

     55,340        3,270,041  

T. Rowe Price Group, Inc.

     240,258        27,125,128  
     

 

 

 
Total Capital Markets

 

     427,017,909  
Chemicals – 1.7%

 

Air Products & Chemicals, Inc.

     127,047        36,489,169  

Celanese Corp.

     75,435        8,214,117  

Chemours Co.

     139,650        4,181,121  

Corteva, Inc.

     179,399        10,819,554  

DuPont de Nemours, Inc.

     257,749        18,498,646  

Ecolab, Inc.

     106,700        17,662,051  

FMC Corp.

     58,887        7,191,869  

H.B. Fuller Co.

     11,276        771,842  

PPG Industries, Inc.

     114,705        15,322,294  

RPM International, Inc.

     62,584        5,459,828  

Sherwin-Williams Co.

     67,512        15,174,672  
     

 

 

 
Total Chemicals

 

     139,785,163  
Commercial Services & Supplies – 0.9%

 

Cintas Corp.

     28,990        13,413,093  

MSA Safety, Inc.

     15,385        2,053,897  

Republic Services, Inc.

     125,353        16,950,233  

Rollins, Inc.

     182,104        6,834,363  

Tetra Tech, Inc.

     10,457        1,536,238  

Waste Management, Inc.

     176,199        28,750,391  
     

 

 

 
Total Commercial Services & Supplies

 

     69,538,215  
Communications Equipment – 2.6%

 

Cisco Systems, Inc.

     3,521,718        184,097,809  

Juniper Networks, Inc.

     222,052        7,643,030  

Motorola Solutions, Inc.

     61,434        17,578,110  
     

 

 

 
Total Communications Equipment

 

     209,318,949  
Construction & Engineering – 0.1%

 

Comfort Systems USA, Inc.

     6,159        898,968  

EMCOR Group, Inc.

     5,377        874,246  

MDU Resources Group, Inc.

     156,885        4,781,855  

 

See Notes to Financial Statements.

 

WisdomTree Trust      71  


Schedule of Investments (continued)

WisdomTree U.S. Quality Dividend Growth Fund (DGRW)

March 31, 2023

 

 

 

Investments    Shares      Value  

Quanta Services, Inc.

     18,964      $ 3,160,161  

Valmont Industries, Inc.

     5,821        1,858,529  
     

 

 

 
Total Construction & Engineering

 

     11,573,759  
Construction Materials – 0.1%

 

Eagle Materials, Inc.

     9,573        1,404,838  

Martin Marietta Materials, Inc.

     13,426        4,767,035  

Vulcan Materials Co.

     31,407        5,388,185  
     

 

 

 
Total Construction Materials

 

     11,560,058  
Consumer Finance – 0.6%

 

American Express Co.

     273,260        45,074,237  

FirstCash Holdings, Inc.

     16,759        1,598,306  

SLM Corp.

     171,768        2,128,205  
     

 

 

 
Total Consumer Finance

 

     48,800,748  
Consumer Staples Distribution & Retail – 3.7%

 

Costco Wholesale Corp.

     91,306        45,367,212  

Dollar General Corp.

     55,357        11,650,434  

Sysco Corp.

     329,398        25,439,408  

Target Corp.

     353,673        58,578,859  

Walmart, Inc.

     1,104,945        162,924,140  
     

 

 

 
Total Consumer Staples Distribution & Retail

 

     303,960,053  
Containers & Packaging – 0.2%

 

AptarGroup, Inc.

     25,689        3,036,183  

Avery Dennison Corp.

     36,576        6,544,543  

Berry Global Group, Inc.

     54,602        3,216,058  

Graphic Packaging Holding Co.

     157,126        4,005,142  

Sealed Air Corp.

     53,586        2,460,133  
     

 

 

 
Total Containers & Packaging

 

     19,262,059  
Distributors – 0.3%

 

Genuine Parts Co.

     71,156        11,905,110  

LKQ Corp.

     145,493        8,258,183  

Pool Corp.

     13,564        4,644,856  
     

 

 

 
Total Distributors

 

     24,808,149  
Electrical Equipment – 0.8%

 

AMETEK, Inc.

     45,166        6,563,975  

Emerson Electric Co.

     361,738        31,521,849  

Hubbell, Inc.

     29,873        7,268,400  

Rockwell Automation, Inc.

     56,824        16,675,003  

Vertiv Holdings Co.

     57,040        816,242  
     

 

 

 
Total Electrical Equipment

 

     62,845,469  
Electronic Equipment, Instruments & Components – 0.4%

 

Amphenol Corp., Class A

     169,689        13,866,985  

CDW Corp.

     45,256        8,819,942  

Cognex Corp.

     31,496        1,560,627  

Jabil, Inc.

     18,861        1,662,786  

TD SYNNEX Corp.

     32,337        3,129,898  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     29,040,238  
Energy Equipment & Services – 0.2%

 

ChampionX Corp.

     59,138        1,604,414  

Halliburton Co.

     327,475        10,361,309  

NOV, Inc.

     102,052        1,888,983  

Patterson-UTI Energy, Inc.

     111,576      1,305,439  
     

 

 

 
Total Energy Equipment & Services

 

     15,160,145  
Entertainment – 0.2%

 

Activision Blizzard, Inc.

     134,829        11,540,014  

Electronic Arts, Inc.

     44,860        5,403,387  
     

 

 

 
Total Entertainment

 

     16,943,401  
Financial Services – 1.7%

 

Jack Henry & Associates, Inc.

     20,872        3,145,828  

MasterCard, Inc., Class A

     145,646        52,929,213  

Visa, Inc., Class A

     379,859        85,643,010  
     

 

 

 
Total Financial Services

 

     141,718,051  
Food Products – 1.3%

 

Campbell Soup Co.

     237,078        13,034,549  

General Mills, Inc.

     404,066        34,531,480  

Hershey Co.

     73,525        18,705,495  

Ingredion, Inc.

     55,804        5,676,941  

Lamb Weston Holdings, Inc.

     41,993        4,389,108  

Lancaster Colony Corp.

     12,040        2,442,675  

McCormick & Co., Inc., Non-Voting Shares

     131,493        10,941,533  

Tyson Foods, Inc., Class A

     223,991        13,287,146  
     

 

 

 
Total Food Products

 

     103,008,927  
Gas Utilities – 0.2%

 

National Fuel Gas Co.

     70,234        4,055,311  

Southwest Gas Holdings, Inc.

     63,948        3,993,553  

UGI Corp.

     212,763        7,395,642  
     

 

 

 
Total Gas Utilities

 

     15,444,506  
Ground Transportation – 1.7%

 

CSX Corp.

     730,342        21,866,439  

Landstar System, Inc.

     8,122        1,455,950  

Norfolk Southern Corp.

     128,213        27,181,156  

Old Dominion Freight Line, Inc.

     16,413        5,594,207  

Union Pacific Corp.

     417,164        83,958,427  
     

 

 

 
Total Ground Transportation

 

     140,056,179  
Health Care Equipment & Supplies – 0.6%

 

Cooper Cos., Inc.

     7,065        2,637,788  

ResMed, Inc.

     33,293        7,290,834  

Stryker Corp.

     123,185        35,165,622  

Teleflex, Inc.

     9,531        2,414,298  
     

 

 

 
Total Health Care Equipment & Supplies

 

     47,508,542  
Health Care Providers & Services – 3.4%

 

AmerisourceBergen Corp.

     60,997        9,766,230  

Cardinal Health, Inc.

     187,676        14,169,538  

Chemed Corp.

     2,149        1,155,625  

Cigna Group

     112,744        28,809,474  

Elevance Health, Inc.

     64,957        29,867,878  

Encompass Health Corp.

     35,502        1,920,658  

Ensign Group, Inc.

     4,729        451,809  

HCA Healthcare, Inc.

     74,195        19,563,738  

Humana, Inc.

     20,363        9,885,422  

McKesson Corp.

     20,589        7,330,713  

UnitedHealth Group, Inc.

     320,953        151,679,178  

 

See Notes to Financial Statements.

 

72   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. Quality Dividend Growth Fund (DGRW)

March 31, 2023

 

 

 

Investments    Shares      Value  

Universal Health Services, Inc., Class B

     12,238      $ 1,555,450  
     

 

 

 
Total Health Care Providers & Services

 

     276,155,713  
Health Care REITs – 0.2%

 

Ventas, Inc.

     434,830        18,849,880  
Hotels, Restaurants & Leisure – 3.4%

 

Aramark

     72,968        2,612,254  

Churchill Downs, Inc.

     4,456        1,145,415  

Darden Restaurants, Inc.

     115,339        17,895,999  

Domino’s Pizza, Inc.

     13,887        4,580,905  

Hilton Worldwide Holdings, Inc.

     40,322        5,680,160  

Marriott International, Inc., Class A

     85,573        14,208,541  

McDonald’s Corp.

     452,467        126,514,298  

Starbucks Corp.

     646,128        67,281,309  

Texas Roadhouse, Inc.

     39,319        4,248,811  

Vail Resorts, Inc.

     34,033        7,952,831  

Wendy’s Co.

     141,622        3,084,527  

Yum! Brands, Inc.

     134,449        17,758,024  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     272,963,074  
Household Durables – 0.1%

 

D.R. Horton, Inc.

     111,101        10,853,457  
Household Products – 4.1%

 

Church & Dwight Co., Inc.

     82,415        7,286,310  

Colgate-Palmolive Co.

     573,433        43,093,490  

Kimberly-Clark Corp.

     315,007        42,280,240  

Procter & Gamble Co.

     1,604,644        238,594,516  
     

 

 

 
Total Household Products

 

     331,254,556  
Independent Power & Renewable Electricity Producers – 0.1%

 

AES Corp.

     427,825        10,302,026  

Ormat Technologies, Inc.(a)

     12,711        1,077,511  
     

 

 

 
Total Independent Power & Renewable Electricity Producers

 

     11,379,537  
Industrial Conglomerates – 2.0%

 

3M Co.

     710,458        74,676,241  

General Electric Co.

     159,962        15,292,367  

Honeywell International, Inc.

     355,834        68,006,994  
     

 

 

 
Total Industrial Conglomerates

 

     157,975,602  
Insurance – 2.1%

 

American International Group, Inc.

     425,254        21,415,792  

Arthur J. Gallagher & Co.

     56,926        10,890,513  

Assurant, Inc.

     32,416        3,892,189  

Brown & Brown, Inc.

     58,754        3,373,655  

Cincinnati Financial Corp.

     108,357        12,144,653  

CNA Financial Corp.

     288,374        11,255,237  

Erie Indemnity Co., Class A

     23,653        5,479,454  

First American Financial Corp.

     110,455        6,147,925  

Globe Life, Inc.

     23,903        2,629,808  

Hanover Insurance Group, Inc.

     24,878        3,196,823  

Hartford Financial Services Group, Inc.

     210,481        14,668,421  

Kinsale Capital Group, Inc.

     3,140        942,471  

Marsh & McLennan Cos., Inc.

     192,681        32,091,021  

Primerica, Inc.

     15,497        2,669,203  

Progressive Corp.

     78,701        11,258,965  

Selective Insurance Group, Inc.

     18,391      1,753,214  

Travelers Cos., Inc.

     125,762        21,556,864  

W.R. Berkley Corp.

     38,242        2,380,947  
     

 

 

 
Total Insurance

 

     167,747,155  
IT Services – 0.2%

 

Cognizant Technology Solutions Corp., Class A

     253,764        15,461,841  
Leisure Products – 0.2%

 

Brunswick Corp.

     40,894        3,353,308  

Hasbro, Inc.

     166,217        8,924,191  

Polaris, Inc.

     39,590        4,379,841  
     

 

 

 
Total Leisure Products

 

     16,657,340  
Life Sciences Tools & Services – 0.5%

 

Agilent Technologies, Inc.

     49,400        6,833,996  

Bruker Corp.

     13,269        1,046,128  

Thermo Fisher Scientific, Inc.

     55,472        31,972,396  

West Pharmaceutical Services, Inc.

     11,123        3,853,786  
     

 

 

 
Total Life Sciences Tools & Services

 

     43,706,306  
Machinery – 3.3%

 

Allison Transmission Holdings, Inc.

     40,241        1,820,503  

Caterpillar, Inc.

     297,734        68,133,449  

Crane Holdings Co.

     30,832        3,499,432  

Cummins, Inc.

     102,230        24,420,702  

Deere & Co.

     87,196        36,001,484  

Donaldson Co., Inc.

     58,500        3,822,390  

Dover Corp.

     51,817        7,873,075  

Flowserve Corp.

     86,576        2,943,584  

Graco, Inc.

     57,263        4,180,772  

IDEX Corp.

     24,124        5,573,368  

Illinois Tool Works, Inc.

     197,885        48,175,103  

ITT, Inc.

     38,505        3,322,982  

Lincoln Electric Holdings, Inc.

     29,662        5,015,844  

Nordson Corp.

     16,739        3,720,410  

Oshkosh Corp.

     34,434        2,864,220  

Parker-Hannifin Corp.

     63,672        21,400,796  

Snap-on, Inc.

     41,763        10,310,867  

Timken Co.

     40,024        3,270,761  

Toro Co.

     33,324        3,704,296  

Xylem, Inc.

     57,517        6,022,030  
     

 

 

 
Total Machinery

 

     266,076,068  
Media – 0.2%

 

New York Times Co., Class A

     67,884        2,639,330  

News Corp., Class A

     165,729        2,862,140  

Nexstar Media Group, Inc.

     21,787        3,761,743  

Sirius XM Holdings, Inc.(a)

     1,801,704        7,152,765  

TEGNA, Inc.

     131,930        2,230,936  
     

 

 

 
Total Media

 

     18,646,914  
Metals & Mining – 0.0%

 

Royal Gold, Inc.

     22,677        2,941,434  
Multi-Utilities – 0.2%

 

CMS Energy Corp.

     235,709        14,467,818  

 

See Notes to Financial Statements.

 

WisdomTree Trust      73  


Schedule of Investments (continued)

WisdomTree U.S. Quality Dividend Growth Fund (DGRW)

March 31, 2023

 

 

 

Investments    Shares      Value  
Oil, Gas & Consumable Fuels – 0.3%

 

Comstock Resources, Inc.(a)

     211,399      $ 2,280,995  

EQT Corp.

     161,682        5,159,273  

Murphy Oil Corp.

     99,921        3,695,079  

Ovintiv, Inc.

     130,343        4,702,775  

Targa Resources Corp.

     114,743        8,370,502  

Texas Pacific Land Corp.

     1,527        2,597,457  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     26,806,081  
Paper & Forest Products – 0.0%

 

Louisiana-Pacific Corp.

     28,495        1,544,714  
Personal Care Products – 0.2%

 

Estee Lauder Cos., Inc., Class A

     73,022        17,997,002  
Pharmaceuticals – 7.3%

 

Eli Lilly & Co.

     280,686        96,393,186  

Johnson & Johnson

     1,828,754        283,456,870  

Merck & Co., Inc.

     1,865,820        198,504,590  

Zoetis, Inc.

     105,223        17,513,316  
     

 

 

 
Total Pharmaceuticals

 

     595,867,962  
Professional Services – 1.5%

 

Automatic Data Processing, Inc.

     217,820        48,493,267  

Booz Allen Hamilton Holding Corp.

     60,548        5,612,194  

Broadridge Financial Solutions, Inc.

     65,186        9,554,312  

Equifax, Inc.(a)

     28,316        5,743,617  

Exponent, Inc.

     13,205        1,316,406  

Insperity, Inc.

     18,663        2,268,488  

Jacobs Solutions, Inc.

     24,195        2,843,154  

KBR, Inc.

     31,153        1,714,973  

Leidos Holdings, Inc.

     51,496        4,740,722  

Maximus, Inc.

     21,256        1,672,847  

Paychex, Inc.

     252,436        28,926,641  

Robert Half International, Inc.

     68,187        5,493,827  

Verisk Analytics, Inc.

     27,731        5,320,470  
     

 

 

 
Total Professional Services

 

     123,700,918  
Semiconductors & Semiconductor Equipment – 8.2%

 

Applied Materials, Inc.

     233,479        28,678,226  

Broadcom, Inc.

     346,658        222,394,973  

KLA Corp.

     53,221        21,244,227  

Lam Research Corp.

     57,341        30,397,611  

Micron Technology, Inc.

     256,974        15,505,811  

Monolithic Power Systems, Inc.

     10,438        5,224,636  

NVIDIA Corp.

     357,184        99,215,000  

QUALCOMM, Inc.

     751,077        95,822,404  

Skyworks Solutions, Inc.

     118,412        13,970,248  

Teradyne, Inc.

     25,836        2,777,628  

Texas Instruments, Inc.

     698,516        129,930,961  

Universal Display Corp.

     13,516        2,096,737  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     667,258,462  
Software – 9.9%

 

Bentley Systems, Inc., Class B

     40,474        1,739,977  

Dolby Laboratories, Inc., Class A

     21,345        1,823,290  

Gen Digital, Inc.

     404,924        6,948,496  

Intuit, Inc.

     61,156      27,265,179  

Microsoft Corp.

     2,242,706        646,572,140  

Oracle Corp.

     1,199,086        111,419,071  

Roper Technologies, Inc.

     17,833        7,858,825  
     

 

 

 
Total Software

 

     803,626,978  
Specialized REITs – 1.0%

 

Extra Space Storage, Inc.

     140,147        22,834,151  

Lamar Advertising Co., Class A

     111,434        11,131,142  

Public Storage

     137,044        41,406,474  

SBA Communications Corp.

     29,406        7,677,025  
     

 

 

 
Total Specialized REITs

 

     83,048,792  
Specialty Retail – 4.5%

 

Academy Sports & Outdoors, Inc.

     16,555        1,080,214  

Advance Auto Parts, Inc.

     65,716        7,991,723  

Best Buy Co., Inc.

     259,765        20,331,807  

Dick’s Sporting Goods, Inc.

     27,596        3,915,596  

Home Depot, Inc.

     671,752        198,247,450  

Lowe’s Cos., Inc.

     338,925        67,774,832  

Ross Stores, Inc.

     102,875        10,918,124  

TJX Cos., Inc.

     477,753        37,436,725  

Tractor Supply Co.

     49,773        11,698,646  

Williams-Sonoma, Inc.

     51,124        6,219,746  
     

 

 

 
Total Specialty Retail

 

     365,614,863  
Technology Hardware, Storage & Peripherals – 6.1%

 

Apple, Inc.

     2,764,002        455,783,930  

HP, Inc.

     990,182        29,061,842  

NetApp, Inc.

     186,016        11,877,121  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     496,722,893  
Textiles, Apparel & Luxury Goods – 0.8%

 

Columbia Sportswear Co.

     20,174        1,820,502  

NIKE, Inc., Class B

     431,945        52,973,735  

Ralph Lauren Corp.

     34,210        3,991,280  

Tapestry, Inc.

     222,020        9,571,282  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     68,356,799  
Tobacco – 3.6%

 

Altria Group, Inc.

     2,282,740        101,855,859  

Philip Morris International, Inc.

     1,921,694        186,884,741  
     

 

 

 
Total Tobacco

 

     288,740,600  
Trading Companies & Distributors – 0.5%

 

Applied Industrial Technologies, Inc.

     8,036        1,142,157  

Fastenal Co.

     380,222        20,509,175  

Herc Holdings, Inc.

     14,838        1,690,048  

MSC Industrial Direct Co., Inc., Class A

     57,753        4,851,252  

W.W. Grainger, Inc.

     17,256        11,886,105  
     

 

 

 
Total Trading Companies & Distributors

 

     40,078,737  
Water Utilities – 0.0%

 

American States Water Co.

     14,975        1,331,128  
TOTAL COMMON STOCKS
(Cost: $7,369,194,920)

 

     8,111,009,528  

 

See Notes to Financial Statements.

 

74   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree U.S. Quality Dividend Growth Fund (DGRW)

March 31, 2023

 

 

 

Investments    Shares      Value  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.1%

 

United States – 0.1%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(b)

     
(Cost: $7,624,900)      7,624,900      $ 7,624,900  
TOTAL INVESTMENTS IN SECURITIES – 99.9%
(Cost: $7,376,819,820)

 

     8,118,634,428  

Other Assets less Liabilities – 0.1%

        8,274,694  
     

 

 

 
NET ASSETS – 100.0%

 

   $ 8,126,909,122  
(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $14,168,201 and the total market value of the collateral held by the Fund was $14,796,255. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $7,171,355.

 

(b) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

    

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

  

Investments in Securities

     

Common Stocks

   $ 8,111,009,528      $      $      $ 8,111,009,528  

Investment of Cash Collateral for Securities Loaned

            7,624,900               7,624,900  

Total Investments in Securities

   $ 8,111,009,528      $ 7,624,900      $      $ 8,118,634,428  

 

See Notes to Financial Statements.

 

WisdomTree Trust      75  


Schedule of Investments

WisdomTree U.S. Quality Growth Fund (QGRW)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.9%

 

United States – 99.9%

 

Aerospace & Defense – 1.0%

 

Lockheed Martin Corp.

     60      $ 28,364  
Air Freight & Logistics – 0.1%

 

Expeditors International of Washington, Inc.

     38        4,185  
Automobiles – 4.3%

 

Tesla, Inc.*

     585        121,364  
Beverages – 0.5%

 

Monster Beverage Corp.*

     238        12,854  
Biotechnology – 1.8%

 

Incyte Corp.*

     49        3,541  

Regeneron Pharmaceuticals, Inc.*

     25        20,542  

Seagen, Inc.*

     43        8,706  

Vertex Pharmaceuticals, Inc.*

     59        18,589  
     

 

 

 
Total Biotechnology

 

     51,378  
Broadline Retail – 5.5%

 

Amazon.com, Inc.*

     1,484        153,283  

Etsy, Inc.*

     28        3,117  
     

 

 

 
Total Broadline Retail

 

     156,400  
Building Products – 0.3%

 

Carrier Global Corp.

     192        8,784  
Capital Markets – 2.8%

 

Blackstone, Inc.

     274        24,068  

FactSet Research Systems, Inc.

     9        3,736  

LPL Financial Holdings, Inc.

     19        3,846  

Moody’s Corp.

     41        12,547  

MSCI, Inc.

     18        10,074  

S&P Global, Inc.

     74        25,513  
     

 

 

 
Total Capital Markets

 

     79,784  
Chemicals – 0.5%

 

Sherwin-Williams Co.

     60        13,486  
Commercial Services & Supplies – 0.3%

 

Copart, Inc.*

     110        8,273  
Communications Equipment – 0.6%

 

Arista Networks, Inc.*

     71        11,918  

Ubiquiti, Inc.

     14        3,804  
     

 

 

 
Total Communications Equipment

 

     15,722  
Distributors – 0.1%

 

Pool Corp.

     9        3,082  
Electronic Equipment, Instruments & Components – 0.6%

 

Amphenol Corp., Class A

     136        11,114  

CDW Corp.

     31        6,041  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     17,155  
Entertainment – 1.4%

 

Netflix, Inc.*

     102        35,239  

Take-Two Interactive Software, Inc.*

     38        4,533  
     

 

 

 
Total Entertainment

 

     39,772  
Financial Services – 7.6%

 

Block, Inc.*

     138      9,474  

MasterCard, Inc., Class A

     221        80,314  

PayPal Holdings, Inc.*

     260        19,744  

Visa, Inc., Class A

     474        106,868  
     

 

 

 
Total Financial Services

 

     216,400  
Food Products – 0.1%

 

Darling Ingredients, Inc.*

     39        2,278  
Ground Transportation – 0.3%

 

Old Dominion Freight Line, Inc.

     25        8,521  
Health Care Equipment & Supplies – 1.8%

 

Align Technology, Inc.*

     18        6,015  

Dexcom, Inc.*

     87        10,108  

IDEXX Laboratories, Inc.*

     19        9,501  

Insulet Corp.*

     16        5,103  

Intuitive Surgical, Inc.*

     81        20,693  
     

 

 

 
Total Health Care Equipment & Supplies

 

     51,420  
Health Care Providers & Services – 3.6%

 

Molina Healthcare, Inc.*

     13        3,477  

UnitedHealth Group, Inc.

     212        100,189  
     

 

 

 
Total Health Care Providers & Services

 

     103,666  
Health Care Technology – 0.2%

 

Veeva Systems, Inc., Class A*

     36        6,616  
Hotels, Restaurants & Leisure – 2.6%

 

Airbnb, Inc., Class A*

     145        18,038  

Chipotle Mexican Grill, Inc.*

     7        11,958  

Domino’s Pizza, Inc.

     9        2,969  

DoorDash, Inc., Class A*

     88        5,593  

Starbucks Corp.

     262        27,282  

Yum! Brands, Inc.

     64        8,453  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     74,293  
Household Durables – 0.3%

 

D.R. Horton, Inc.

     78        7,620  
Insurance – 0.8%

 

Erie Indemnity Co., Class A

     10        2,317  

Progressive Corp.

     134        19,170  
     

 

 

 
Total Insurance

 

     21,487  
Interactive Media & Services – 11.7%

 

Alphabet, Inc., Class A*

     1,887        195,738  

Meta Platforms, Inc., Class A*

     608        128,860  

Pinterest, Inc., Class A*

     156        4,254  

ZoomInfo Technologies, Inc.*

     96        2,372  
     

 

 

 
Total Interactive Media & Services

 

     331,224  
IT Services – 0.3%

 

EPAM Systems, Inc.*

     13        3,887  

VeriSign, Inc.*

     26        5,495  
     

 

 

 
Total IT Services

 

     9,382  
Life Sciences Tools & Services – 0.7%

 

Bio-Techne Corp.

     36        2,671  

Mettler-Toledo International, Inc.*

     5        7,651  

 

See Notes to Financial Statements.

 

76   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree U.S. Quality Growth Fund (QGRW)

March 31, 2023

 

 

 

Investments    Shares      Value  

Waters Corp.*

     14      $ 4,335  

West Pharmaceutical Services, Inc.

     18        6,236  
     

 

 

 
Total Life Sciences Tools & Services

 

     20,893  
Machinery – 0.3%

 

Otis Worldwide Corp.

     97        8,187  
Media – 0.4%

 

Sirius XM Holdings, Inc.

     809        3,212  

Trade Desk, Inc., Class A*

     116        7,065  
     

 

 

 
Total Media

 

     10,277  
Metals & Mining – 0.9%

 

Nucor Corp.

     58        8,959  

Southern Copper Corp.

     176        13,420  

Steel Dynamics, Inc.

     41        4,636  
     

 

 

 
Total Metals & Mining

 

     27,015  
Oil, Gas & Consumable Fuels – 0.1%

 

Texas Pacific Land Corp.

     1        1,701  
Pharmaceuticals – 0.6%

 

Zoetis, Inc.

     107        17,809  
Semiconductors & Semiconductor Equipment – 11.3%

 

Advanced Micro Devices, Inc.*

     370        36,264  

Broadcom, Inc.

     96        61,588  

Enphase Energy, Inc.*

     32        6,729  

Entegris, Inc.

     34        2,788  

KLA Corp.

     33        13,173  

Lam Research Corp.

     31        16,434  

Micron Technology, Inc.

     250        15,085  

Monolithic Power Systems, Inc.

     10        5,005  

NVIDIA Corp.

     570        158,329  

Teradyne, Inc.

     38        4,085  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     319,480  
Software – 18.5%

 

Adobe, Inc.*

     106      40,849  

Autodesk, Inc.*

     49        10,200  

Cadence Design Systems, Inc.*

     63        13,236  

Crowdstrike Holdings, Inc., Class A*

     54        7,412  

Datadog, Inc., Class A*

     76        5,522  

Fair Isaac Corp.*

     6        4,216  

Fortinet, Inc.*

     183        12,162  

HubSpot, Inc.*

     11        4,716  

Intuit, Inc.

     65        28,979  

Microsoft Corp.

     1,085        312,806  

Paycom Software, Inc.*

     14        4,256  

Paylocity Holding Corp.*

     13        2,584  

Salesforce, Inc.*

     230        45,950  

ServiceNow, Inc.*

     46        21,377  

Workday, Inc., Class A*

     58        11,979  
     

 

 

 
Total Software

 

     526,244  
Specialty Retail – 3.6%

 

AutoZone, Inc.*

     4        9,832  

Home Depot, Inc.

     232        68,468  

O’Reilly Automotive, Inc.*

     14        11,886  

Tractor Supply Co.

     26        6,111  

Ulta Beauty, Inc.*

     12        6,548  
     

 

 

 
Total Specialty Retail

 

     102,845  
Technology Hardware, Storage & Peripherals – 12.9%

 

Apple, Inc.

     2,214        365,089  
Textiles, Apparel & Luxury Goods – 1.5%

 

NIKE, Inc., Class B

     358        43,905  
TOTAL INVESTMENTS IN SECURITIES – 99.9%
(Cost: $2,550,231)

 

     2,836,955  

Other Assets less Liabilities – 0.1%

        2,410  
     

 

 

 
NET ASSETS – 100.0%

 

   $ 2,839,365  
* 

Non-income producing security.

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

  

Investments in Securities

     

Common Stocks

   $ 2,836,955      $      $      $ 2,836,955  

Total Investments in Securities

   $ 2,836,955      $      $      $ 2,836,955  

 

See Notes to Financial Statements.

 

WisdomTree Trust      77  


Schedule of Investments

WisdomTree U.S. SmallCap Dividend Fund (DES)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.8%

 

United States – 99.1%

 

Aerospace & Defense – 0.9%

 

Cadre Holdings, Inc.

     86,095      $ 1,854,486  

Kaman Corp.

     148,885        3,403,511  

Maxar Technologies, Inc.

     72,091        3,680,967  

Moog, Inc., Class A

     44,739        4,507,454  

National Presto Industries, Inc.

     28,728        2,071,002  

Park Aerospace Corp.

     89,156        1,199,148  
     

 

 

 
Total Aerospace & Defense

 

     16,716,568  
Air Freight & Logistics – 0.2%

 

Forward Air Corp.

     34,742        3,743,798  
Automobile Components – 1.2%

 

Dana, Inc.

     307,123        4,622,201  

LCI Industries(a)

     85,844        9,431,680  

Patrick Industries, Inc.(a)

     75,267        5,179,122  

Standard Motor Products, Inc.

     83,193        3,070,654  
     

 

 

 
Total Automobile Components

 

     22,303,657  
Automobiles – 0.3%

 

Winnebago Industries, Inc.

     84,021        4,848,012  
Banks – 13.8%

 

1st Source Corp.

     45,977        1,983,908  

Amalgamated Financial Corp.

     40,465        715,826  

Amerant Bancorp, Inc.

     27,061        588,847  

Arrow Financial Corp.

     27,453        683,854  

Atlantic Union Bankshares Corp.(a)

     143,713        5,037,141  

Banc of California, Inc.

     67,118        840,989  

BancFirst Corp.

     48,494        4,029,851  

Bank First Corp.(a)

     6,713        493,943  

Bank of Hawaii Corp.(a)

     82,626        4,303,162  

Bank of Marin Bancorp

     15,545        340,280  

Bank7 Corp.

     23,872        586,058  

BankUnited, Inc.

     202,159        4,564,750  

Banner Corp.

     73,710        4,007,613  

Bar Harbor Bankshares

     19,780        523,181  

BCB Bancorp, Inc.

     40,142        527,064  

Berkshire Hills Bancorp, Inc.

     48,634        1,218,768  

Brookline Bancorp, Inc.

     268,365        2,817,832  

Business First Bancshares, Inc.

     23,584        403,994  

Byline Bancorp, Inc.

     40,421        873,902  

Cambridge Bancorp

     16,659        1,079,670  

Camden National Corp.

     30,995        1,121,709  

Capital Bancorp, Inc.

     1,872        31,150  

Capital City Bank Group, Inc.

     22,825        669,001  

Capitol Federal Financial, Inc.

     302,060        2,032,864  

Capstar Financial Holdings, Inc.

     22,474        340,481  

Cathay General Bancorp

     201,127        6,942,904  

Central Pacific Financial Corp.

     103,129        1,846,009  

CF Bankshares, Inc.

     2,704        52,728  

Citizens & Northern Corp.(a)

     48,842        1,044,242  

Citizens Community Bancorp, Inc.

     4,026        42,716  

City Holding Co.(a)

     39,029        3,546,956  

CNB Financial Corp.

     25,205      483,936  

Colony Bankcorp, Inc.

     30,632        312,446  

Columbia Banking System, Inc.

     170,890        3,660,464  

Community Bank System, Inc.(a)

     84,893        4,456,034  

Community Financial Corp.

     8,913        295,288  

Community Trust Bancorp, Inc.

     49,349        1,872,795  

ConnectOne Bancorp, Inc.

     42,003        742,613  

Dime Community Bancshares, Inc.

     79,432        1,804,695  

Eagle Bancorp Montana, Inc.

     4,439        62,634  

Eagle Bancorp, Inc.

     54,553        1,825,889  

Eastern Bankshares, Inc.

     206,256        2,602,951  

Enterprise Bancorp, Inc.

     17,245        542,528  

Enterprise Financial Services Corp.

     49,324        2,199,357  

Equity Bancshares, Inc., Class A

     6,876        167,568  

ESSA Bancorp, Inc.

     21,895        344,189  

Farmers National Banc Corp.

     99,154        1,253,307  

FB Financial Corp.

     39,869        1,239,129  

Fidelity D&D Bancorp, Inc.

     4,928        225,012  

Financial Institutions, Inc.

     23,410        451,345  

First Bancorp

     49,549        1,759,980  

First Bancorp, Inc.

     38,062        985,425  

First Bancshares, Inc.(a)

     19,034        491,648  

First Bank

     12,214        123,361  

First Busey Corp.

     88,246        1,794,924  

First Business Financial Services, Inc.

     10,045        306,473  

First Commonwealth Financial Corp.

     264,903        3,292,744  

First Community Bankshares, Inc.

     45,084        1,129,354  

First Community Corp.

     9,528        190,560  

First Financial Bancorp

     294,048        6,401,425  

First Financial Corp.

     20,849        781,421  

First Foundation, Inc.

     78,010        581,174  

First Hawaiian, Inc.

     325,967        6,724,699  

First Internet Bancorp

     7,757        129,154  

First Merchants Corp.

     94,868        3,125,901  

First Mid Bancshares, Inc.

     15,495        421,774  

First National Corp.

     2,276        35,984  

First Northwest Bancorp

     9,053        104,109  

First of Long Island Corp.

     28,086        379,161  

First Savings Financial Group, Inc.

     3,119        50,185  

Flushing Financial Corp.

     44,491        662,471  

FS Bancorp, Inc.

     13,283        398,623  

Fulton Financial Corp.

     520,139        7,188,321  

German American Bancorp, Inc.

     45,706        1,525,209  

Great Southern Bancorp, Inc.

     18,348        929,877  

Greene County Bancorp, Inc.

     21,782        494,016  

Guaranty Bancshares, Inc.

     22,635        630,837  

Hanmi Financial Corp.

     85,639        1,590,316  

HarborOne Bancorp, Inc.(a)

     26,283        320,653  

Hawthorn Bancshares, Inc.

     7,549        176,458  

HBT Financial, Inc.

     81,733        1,611,775  

Heartland Financial USA, Inc.

     81,657        3,132,363  

Heritage Commerce Corp.

     114,373        952,727  

Heritage Financial Corp.

     47,041        1,006,677  

Hilltop Holdings, Inc.

     67,303        1,996,880  

 

See Notes to Financial Statements.

 

78   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. SmallCap Dividend Fund (DES)

March 31, 2023

 

 

 

Investments    Shares      Value  

Hingham Institution for Savings(a)

     1,899      $ 443,303  

Home Bancorp, Inc.

     15,121        499,447  

HomeStreet, Inc.

     42,115        757,649  

HomeTrust Bancshares, Inc.

     16,695        410,530  

Hope Bancorp, Inc.

     277,569        2,725,728  

Horizon Bancorp, Inc.

     56,125        620,742  

Independent Bank Corp.

     57,856        1,028,101  

Independent Bank Group, Inc.

     52,447        2,430,918  

International Bancshares Corp.

     143,082        6,126,771  

Investar Holding Corp.

     3,022        42,187  

Kearny Financial Corp.(a)

     68,961        559,963  

Lakeland Bancorp, Inc.

     89,328        1,397,090  

Lakeland Financial Corp.(a)

     42,290        2,649,046  

Live Oak Bancshares, Inc.(a)

     43,520        1,060,582  

Luther Burbank Corp.

     83,090        787,693  

Macatawa Bank Corp.

     95,997        981,089  

Mercantile Bank Corp.

     26,571        812,541  

Meridian Corp.

     15,752        198,475  

Metrocity Bankshares, Inc.(a)

     56,379        963,517  

Mid Penn Bancorp, Inc.

     17,999        460,954  

Middlefield Banc Corp.

     10,925        306,064  

Midland States Bancorp, Inc.

     65,663        1,406,501  

MidWestOne Financial Group, Inc.

     29,175        712,453  

MVB Financial Corp.

     19,023        392,635  

National Bank Holdings Corp., Class A

     42,143        1,410,105  

NBT Bancorp, Inc.(a)

     89,361        3,012,359  

Northeast Bank (a)

     4,069        136,963  

Northeast Community Bancorp, Inc.

     20,279        266,060  

Northfield Bancorp, Inc.(a)

     70,576        831,385  

Northrim Bancorp, Inc.

     17,270        814,799  

Northwest Bancshares, Inc.

     362,713        4,363,437  

OceanFirst Financial Corp.

     93,401        1,726,050  

Ohio Valley Banc Corp.

     1,299        30,410  

Old Second Bancorp, Inc.

     21,238        298,606  

OP Bancorp

     42,098        375,093  

Orange County Bancorp, Inc.(a)

     4,263        187,572  

Origin Bancorp, Inc.

     29,962        963,278  

Orrstown Financial Services, Inc.

     27,511        546,368  

Pacific Premier Bancorp, Inc.

     326,018        7,830,952  

PacWest Bancorp

     307,375        2,990,759  

Park National Corp.(a)

     40,492        4,801,136  

Partners Bancorp(a)

     5,750        45,022  

Pathward Financial, Inc.

     26,323        1,092,141  

PCB Bancorp

     37,563        544,288  

Peapack-Gladstone Financial Corp.

     9,636        285,418  

Peoples Bancorp of North Carolina, Inc.

     9,447        300,131  

Peoples Bancorp, Inc.(a)

     119,117        3,067,263  

Peoples Financial Services Corp.

     12,411        538,017  

Plumas Bancorp

     7,592        258,584  

Preferred Bank

     23,944        1,312,371  

Premier Financial Corp.

     70,426        1,459,931  

Primis Financial Corp.

     67,391        648,975  

Princeton Bancorp, Inc.

     8,690        275,647  

Provident Bancorp, Inc.(a)

     27,014        184,776  

Provident Financial Services, Inc.(a)

     190,832      3,660,158  

QCR Holdings, Inc.

     14,722        646,443  

RBB Bancorp

     36,484        565,502  

Red River Bancshares, Inc.

     3,452        166,076  

Renasant Corp.

     68,750        2,102,375  

Republic Bancorp, Inc., Class A

     33,561        1,423,993  

S&T Bancorp, Inc.

     108,162        3,401,695  

Salisbury Bancorp, Inc.

     24,120        581,292  

Sandy Spring Bancorp, Inc.

     90,358        2,347,501  

Seacoast Banking Corp. of Florida

     62,886        1,490,398  

Simmons First National Corp., Class A

     267,585        4,680,062  

SmartFinancial, Inc.

     4,902        113,432  

South Plains Financial, Inc.

     15,173        324,854  

Southern Missouri Bancorp, Inc.

     14,582        545,513  

Southern States Bancshares, Inc.

     2,836        63,952  

Southside Bancshares, Inc.

     101,753        3,378,200  

Stellar Bancorp, Inc.(a)

     50,055        1,231,854  

Stock Yards Bancorp, Inc.

     45,188        2,491,666  

Summit State Bank

     3,395        47,089  

Timberland Bancorp, Inc.

     18,155        490,548  

Tompkins Financial Corp.

     28,585        1,892,613  

Towne Bank

     104,588        2,787,270  

TriCo Bancshares

     54,798        2,279,049  

TrustCo Bank Corp.

     29,737        949,800  

Trustmark Corp.

     91,591        2,262,298  

Unity Bancorp, Inc.

     6,447        147,056  

Univest Financial Corp.

     50,589        1,200,983  

Veritex Holdings, Inc.

     69,917        1,276,684  

Washington Federal, Inc.

     164,696        4,960,643  

Washington Trust Bancorp, Inc.

     55,601        1,927,131  

WesBanco, Inc.

     122,830        3,770,881  

West Bancorp, Inc.(a)

     49,507        904,493  

Westamerica BanCorp

     64,755        2,868,646  

WSFS Financial Corp.

     57,898        2,177,544  
     

 

 

 
Total Banks

 

     256,789,801  
Beverages – 0.1%

 

MGP Ingredients, Inc.(a)

     20,326        1,965,931  
Broadline Retail – 0.5%

 

Big Lots, Inc.(a)

     184,406        2,021,090  

Nordstrom, Inc.

     496,364        8,075,842  
     

 

 

 
Total Broadline Retail

 

     10,096,932  
Building Products – 1.1%

 

Apogee Enterprises, Inc.

     76,357        3,302,440  

Armstrong World Industries, Inc.

     64,735        4,611,721  

AZZ, Inc.

     66,626        2,747,656  

CSW Industrials, Inc.

     21,628        3,004,778  

Griffon Corp.

     96,090        3,075,841  

Insteel Industries, Inc.

     58,338        1,622,963  

Quanex Building Products Corp.

     109,131        2,349,591  
     

 

 

 
Total Building Products

 

     20,714,990  
Capital Markets – 3.7%

 

Artisan Partners Asset Management, Inc., Class A

     261,784        8,371,852  

 

See Notes to Financial Statements.

 

WisdomTree Trust      79  


Schedule of Investments (continued)

WisdomTree U.S. SmallCap Dividend Fund (DES)

March 31, 2023

 

 

 

Investments    Shares      Value  

Associated Capital Group, Inc., Class A(a)

     1,396      $ 51,582  

BGC Partners, Inc., Class A

     293,695        1,536,025  

Bridge Investment Group Holdings, Inc., Class A

     155,590        1,762,835  

Brightsphere Investment Group, Inc.

     42,814        1,009,554  

Cohen & Steers, Inc.

     145,100        9,280,596  

Diamond Hill Investment Group, Inc.

     3,074        505,919  

Federated Hermes, Inc.

     225,524        9,052,533  

Greenhill & Co., Inc.

     15,625        138,594  

Hamilton Lane, Inc., Class A

     45,028        3,331,171  

Moelis & Co., Class A(a)

     226,109        8,691,630  

Oppenheimer Holdings, Inc., Class A

     15,883        621,820  

Piper Sandler Cos.

     18,755        2,599,631  

PJT Partners, Inc., Class A

     20,526        1,481,772  

Silvercrest Asset Management Group, Inc., Class A

     23,321        423,976  

StepStone Group, Inc., Class A

     85,586        2,077,172  

TPG, Inc.(a)

     127,506        3,739,751  

Value Line, Inc.

     12,919        624,375  

Victory Capital Holdings, Inc., Class A

     205,473        6,014,195  

Virtu Financial, Inc., Class A

     238,126        4,500,581  

Virtus Investment Partners, Inc.

     11,105        2,114,281  
     

 

 

 
Total Capital Markets

 

     67,929,845  
Chemicals – 4.3%

 

AdvanSix, Inc.

     66,907        2,560,531  

American Vanguard Corp.

     74,595        1,632,139  

Avient Corp.

     222,253        9,147,933  

Chase Corp.

     24,902        2,607,986  

FutureFuel Corp.

     228,293        1,684,802  

Hawkins, Inc.

     65,706        2,876,609  

Innospec, Inc.

     41,864        4,298,177  

Koppers Holdings, Inc.

     60,994        2,132,960  

Kronos Worldwide, Inc.

     594,596        5,476,229  

Mativ Holdings, Inc.

     281,276        6,038,996  

Minerals Technologies, Inc.

     34,164        2,064,189  

NewMarket Corp.

     22,450        8,193,801  

Northern Technologies International Corp.

     34,648        409,886  

Quaker Chemical Corp.

     19,636        3,886,946  

Scotts Miracle-Gro Co.(a)

     208,643        14,550,763  

Sensient Technologies Corp.

     82,423        6,310,305  

Stepan Co.

     32,851        3,384,639  

Valhi, Inc.

     98,071        1,707,416  
     

 

 

 
Total Chemicals

 

     78,964,307  
Commercial Services & Supplies – 3.4%

 

ABM Industries, Inc.

     115,588        5,194,525  

ACCO Brands Corp.

     531,202        2,825,995  

ARC Document Solutions, Inc.

     202,711        642,594  

Aris Water Solutions, Inc., Class A(a)

     128,791        1,003,282  

Brady Corp., Class A

     119,381        6,414,341  

Brink’s Co.

     65,902        4,402,254  

CompX International, Inc.

     28,161        509,151  

Deluxe Corp.

     248,239        3,971,824  

Ennis, Inc.

     177,418        3,741,746  

HNI Corp.

     187,303        5,214,515  

Interface, Inc.

     162,695      $ 1,321,083  

Kimball International, Inc., Class B

     254,151        3,151,472  

Matthews International Corp., Class A

     105,941        3,820,232  

MillerKnoll, Inc.

     433,800        8,871,210  

NL Industries, Inc.

     118,630        718,898  

Pitney Bowes, Inc.

     933,142        3,629,922  

Steelcase, Inc., Class A

     446,957        3,763,378  

UniFirst Corp.

     13,557        2,389,150  

VSE Corp.(a)

     36,730        1,649,177  
     

 

 

 
Total Commercial Services & Supplies

 

     63,234,749  
Communications Equipment – 0.2%

 

ADTRAN Holdings, Inc.

     164,630        2,611,032  

Comtech Telecommunications Corp.

     142,020        1,772,409  
     

 

 

 
Total Communications Equipment

 

     4,383,441  
Construction & Engineering – 0.6%

 

Arcosa, Inc.

     40,731        2,570,534  

Argan, Inc.

     66,151        2,677,131  

Granite Construction, Inc.(a)

     89,105        3,660,433  

Primoris Services Corp.

     118,182        2,914,368  
     

 

 

 
Total Construction & Engineering

 

     11,822,466  
Construction Materials – 0.1%

 

United States Lime & Minerals, Inc.

     11,686        1,784,335  
Consumer Finance – 0.5%

 

Bread Financial Holdings, Inc.

     46,198        1,400,723  

Navient Corp.

     299,021        4,781,346  

Nelnet, Inc., Class A(a)

     21,975        2,019,283  

Regional Management Corp.

     18,607        485,457  
     

 

 

 
Total Consumer Finance

 

     8,686,809  
Consumer Staples Distribution & Retail – 1.1%

 

Andersons, Inc.

     92,647        3,828,174  

Ingles Markets, Inc., Class A

     23,898        2,119,753  

Natural Grocers by Vitamin Cottage, Inc.

     131,723        1,547,745  

PriceSmart, Inc.

     47,568        3,400,161  

SpartanNash Co.

     125,519        3,112,871  

Village Super Market, Inc., Class A

     56,641        1,295,946  

Weis Markets, Inc.

     53,602        4,538,481  
     

 

 

 
Total Consumer Staples Distribution & Retail

 

     19,843,131  
Containers & Packaging – 1.2%

 

Greif, Inc., Class A

     202,742        12,847,761  

Myers Industries, Inc.

     147,626        3,163,625  

Pactiv Evergreen, Inc.

     513,155        4,105,240  

TriMas Corp.

     68,497        1,908,326  
     

 

 

 
Total Containers & Packaging

 

     22,024,952  
Distributors – 0.1%

 

Weyco Group, Inc.

     48,123        1,217,512  
Diversified Consumer Services – 0.6%

 

Carriage Services, Inc.

     80,122        2,445,323  

Graham Holdings Co., Class B

     5,603        3,338,492  

Strategic Education, Inc.(a)

     66,911        6,010,615  
     

 

 

 
Total Diversified Consumer Services

 

     11,794,430  

 

See Notes to Financial Statements.

 

80   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. SmallCap Dividend Fund (DES)

March 31, 2023

 

 

 

Investments    Shares      Value  
Diversified REITs – 1.3%

 

Alexander & Baldwin, Inc.

     36,650      $ 693,052  

Alpine Income Property Trust, Inc.

     21,999        370,243  

American Assets Trust, Inc.

     33,848        629,234  

Armada Hoffler Properties, Inc.

     68,712        811,489  

Broadstone Net Lease, Inc.

     381,749        6,493,551  

CTO Realty Growth, Inc.

     57,984        1,000,804  

Empire State Realty Trust, Inc., Class A(a)

     180,162        1,169,251  

Essential Properties Realty Trust, Inc.

     392,086        9,743,337  

Gladstone Commercial Corp.

     91,334        1,153,548  

One Liberty Properties, Inc.

     44,879        1,029,075  

Safehold, Inc.

     58,927        1,730,686  
     

 

 

 
Total Diversified REITs

 

     24,824,270  
Diversified Telecommunication Services – 1.0%

 

ATN International, Inc.

     47,729        1,953,071  

Cogent Communications Holdings, Inc.

     257,509        16,408,473  
     

 

 

 
Total Diversified Telecommunication Services

 

     18,361,544  
Electric Utilities – 1.0%

 

Genie Energy Ltd., Class B

     98,094        1,355,659  

MGE Energy, Inc.

     79,497        6,174,532  

Otter Tail Corp.(a)

     150,512        10,877,502  
     

 

 

 
Total Electric Utilities

 

     18,407,693  
Electrical Equipment – 1.0%

 

Allied Motion Technologies, Inc.

     43,856        1,695,034  

Encore Wire Corp.

     15,456        2,864,461  

EnerSys

     46,250        4,018,200  

GrafTech International Ltd.

     446,624        2,170,593  

LSI Industries, Inc.

     152,572        2,125,328  

Powell Industries, Inc.

     58,797        2,504,164  

Preformed Line Products Co.

     19,381        2,481,543  
     

 

 

 
Total Electrical Equipment

 

     17,859,323  
Electronic Equipment, Instruments & Components – 1.8%

 

Advanced Energy Industries, Inc.

     32,148        3,150,504  

Badger Meter, Inc.

     34,438        4,195,237  

Bel Fuse, Inc., Class B

     47,462        1,783,622  

Belden, Inc.

     35,706        3,098,210  

Benchmark Electronics, Inc.

     108,224        2,563,827  

Climb Global Solutions, Inc.

     18,330        976,806  

CTS Corp.

     47,440        2,346,382  

Methode Electronics, Inc.

     58,104        2,549,603  

Richardson Electronics Ltd.

     58,554        1,306,925  

Vishay Intertechnology, Inc.

     314,631        7,116,953  

Vontier Corp.

     151,231        4,134,656  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     33,222,725  
Energy Equipment & Services – 1.1%

 

Archrock, Inc.

     838,485        8,191,998  

Cactus, Inc., Class A(a)

     80,133        3,303,884  

Liberty Energy, Inc.

     167,476        2,145,368  

RPC, Inc.

     315,346        2,425,011  

Select Energy Services, Inc., Class A(a)

     357,437        2,487,761  

Solaris Oilfield Infrastructure, Inc., Class A

     196,198        1,675,531  
     

 

 

 
Total Energy Equipment & Services

 

     20,229,553  
Entertainment – 0.3%

 

Marcus Corp.(a)

     129,155      2,066,480  

World Wrestling Entertainment, Inc., Class A

     48,428        4,419,539  
     

 

 

 
Total Entertainment

 

     6,486,019  
Financial Services – 2.3%

 

A-Mark Precious Metals, Inc.(a)

     18,334        635,273  

Alerus Financial Corp.

     27,432        440,284  

Cass Information Systems, Inc.

     69,384        3,005,021  

Federal Agricultural Mortgage Corp., Class C

     21,618        2,879,301  

Jackson Financial, Inc., Class A

     318,613        11,919,312  

Merchants Bancorp

     47,184        1,228,671  

PennyMac Financial Services, Inc.(a)

     51,165        3,049,946  

Radian Group, Inc.

     635,172        14,037,301  

UWM Holdings Corp.(a)

     344,884        1,693,381  

Walker & Dunlop, Inc.

     52,518        4,000,296  
     

 

 

 
Total Financial Services

 

     42,888,786  
Food Products – 1.7%

 

Alico, Inc.

     30,381        735,220  

Cal-Maine Foods, Inc.

     234,430        14,274,443  

Calavo Growers, Inc.

     82,074        2,361,269  

J & J Snack Foods Corp.

     32,752        4,854,502  

John B. Sanfilippo & Son, Inc.

     26,536        2,571,869  

Limoneira Co.

     88,443        1,473,460  

Tootsie Roll Industries, Inc.

     71,182        3,196,796  

Utz Brands, Inc.

     140,426        2,312,816  
     

 

 

 
Total Food Products

 

     31,780,375  
Gas Utilities – 0.8%

 

Chesapeake Utilities Corp.

     45,671        5,845,431  

Northwest Natural Holding Co.

     173,718        8,262,028  

RGC Resources, Inc.

     34,035        789,272  
     

 

 

 
Total Gas Utilities

 

     14,896,731  
Ground Transportation – 1.1%

 

ArcBest Corp.

     29,944        2,767,425  

Covenant Logistics Group, Inc.

     48,495        1,717,693  

Heartland Express, Inc.

     110,463        1,758,571  

Marten Transport Ltd.

     163,922        3,434,166  

Schneider National, Inc., Class B

     189,327        5,064,497  

Universal Logistics Holdings, Inc.

     83,344        2,429,478  

Werner Enterprises, Inc.

     77,256        3,514,375  
     

 

 

 
Total Ground Transportation

 

     20,686,205  
Health Care Equipment & Supplies – 0.9%

 

Atrion Corp.

     4,122        2,588,245  

CONMED Corp.(a)

     37,788        3,924,662  

Embecta Corp.(a)

     142,965        4,020,176  

LeMaitre Vascular, Inc.

     53,845        2,771,402  

Mesa Laboratories, Inc.(a)

     10,428        1,822,084  

Utah Medical Products, Inc.

     13,028        1,234,664  
     

 

 

 
Total Health Care Equipment & Supplies

 

     16,361,233  
Health Care Providers & Services – 1.3%

 

National HealthCare Corp.

     62,725        3,642,441  

National Research Corp.

     67,743        2,947,498  

 

See Notes to Financial Statements.

 

WisdomTree Trust      81  


Schedule of Investments (continued)

WisdomTree U.S. SmallCap Dividend Fund (DES)

March 31, 2023

 

 

 

Investments    Shares      Value  

Patterson Cos., Inc.

     320,392      $ 8,576,894  

Select Medical Holdings Corp.(a)

     230,456        5,957,287  

U.S. Physical Therapy, Inc.

     33,286        3,259,032  
     

 

 

 
Total Health Care Providers & Services

 

     24,383,152  
Health Care REITs – 1.6%

 

CareTrust REIT, Inc.

     104,713        2,050,281  

Community Healthcare Trust, Inc.

     36,593        1,339,304  

Global Medical REIT, Inc.(a)

     55,734        507,737  

LTC Properties, Inc.

     80,457        2,826,454  

National Health Investors, Inc.

     73,602        3,796,391  

Physicians Realty Trust

     522,353        7,798,730  

Sabra Health Care REIT, Inc.

     941,679        10,829,309  

Universal Health Realty Income Trust

     13,012        626,007  
     

 

 

 
Total Health Care REITs

 

     29,774,213  
Health Care Technology – 0.1%

 

Simulations Plus, Inc.(a)

     46,321        2,035,345  
Hotel & Resort REITs – 0.9%

 

DiamondRock Hospitality Co.

     199,481        1,621,780  

Park Hotels & Resorts, Inc.

     226,028        2,793,706  

Pebblebrook Hotel Trust

     134,842        1,893,182  

RLJ Lodging Trust

     165,059        1,749,625  

Service Properties Trust

     359,378        3,579,405  

Summit Hotel Properties, Inc.

     114,201        799,407  

Sunstone Hotel Investors, Inc.

     196,170        1,938,160  

Xenia Hotels & Resorts, Inc.

     109,940        1,439,115  
     

 

 

 
Total Hotel & Resort REITs

 

     15,814,380  
Hotels, Restaurants & Leisure – 3.6%

 

Bloomin’ Brands, Inc.(a)

     311,830        7,998,439  

Bluegreen Vacations Holding Corp.(a)

     86,051        2,356,076  

Canterbury Park Holding Corp.

     19,247        471,263  

Cheesecake Factory, Inc.(a)

     165,655        5,806,208  

Cracker Barrel Old Country Store, Inc.

     94,188        10,699,757  

Dine Brands Global, Inc.

     53,593        3,625,031  

Jack in the Box, Inc.

     56,229        4,925,098  

Krispy Kreme, Inc.

     205,905        3,201,823  

Nathan’s Famous, Inc.

     19,288        1,458,173  

Papa John’s International, Inc.(a)

     67,331        5,045,112  

RCI Hospitality Holdings, Inc.(a)

     18,765        1,466,860  

Red Rock Resorts, Inc., Class A

     125,876        5,610,293  

Ruth’s Hospitality Group, Inc.

     168,237        2,762,452  

Travel & Leisure Co.

     269,192        10,552,326  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     65,978,911  
Household Durables – 2.3%

 

Bassett Furniture Industries, Inc.

     47,540        846,212  

Century Communities, Inc.(a)

     93,839        5,998,189  

Ethan Allen Interiors, Inc.

     157,823        4,333,820  

Hamilton Beach Brands Holding Co., Class A

     46,668        477,880  

Hooker Furnishings Corp.

     71,036        1,292,145  

Installed Building Products, Inc.

     47,181        5,380,049  

KB Home

     149,652        6,013,017  

La-Z-Boy, Inc.

     152,074        4,422,312  

Lifetime Brands, Inc.

     103,941        611,173  

MDC Holdings, Inc.

     330,717      12,854,970  
     

 

 

 
Total Household Durables

 

     42,229,767  
Household Products – 1.0%

 

Energizer Holdings, Inc.

     203,207        7,051,283  

Oil-Dri Corp. of America

     28,568        1,188,715  

Spectrum Brands Holdings, Inc.

     99,792        6,608,226  

WD-40 Co.

     25,440        4,529,592  
     

 

 

 
Total Household Products

 

     19,377,816  
Industrial REITs – 0.5%

 

Indus Realty Trust, Inc.

     8,135        539,269  

Innovative Industrial Properties, Inc.

     58,206        4,423,074  

LXP Industrial Trust

     286,980        2,958,764  

Plymouth Industrial REIT, Inc.

     36,371        764,155  
     

 

 

 
Total Industrial REITs

 

     8,685,262  
Insurance – 1.5%

 

American Equity Investment Life Holding Co.

     74,926        2,734,050  

AMERISAFE, Inc.

     23,161        1,133,731  

CNO Financial Group, Inc.

     247,825        5,499,237  

Donegal Group, Inc., Class A

     81,944        1,252,104  

Employers Holdings, Inc.

     29,774        1,241,278  

Horace Mann Educators Corp.

     65,078        2,178,811  

Mercury General Corp.

     105,285        3,341,746  

National Western Life Group, Inc., Class A(a)

     3,210        778,810  

ProAssurance Corp.

     56,849        1,050,570  

Safety Insurance Group, Inc.

     50,768        3,783,231  

Stewart Information Services Corp.

     96,931        3,911,166  

Tiptree, Inc.

     65,256        950,780  

United Fire Group, Inc.

     29,240        776,322  
     

 

 

 
Total Insurance

 

     28,631,836  
Interactive Media & Services – 0.3%

 

Shutterstock, Inc.

     74,886        5,436,724  
IT Services – 0.2%

 

Hackett Group, Inc.

     123,794        2,287,713  

Information Services Group, Inc.

     261,645        1,331,773  
     

 

 

 
Total IT Services

 

     3,619,486  
Leisure Products – 0.9%

 

Acushnet Holdings Corp.

     100,640        5,126,602  

Escalade, Inc.

     75,302        1,099,409  

Johnson Outdoors, Inc., Class A

     41,950        2,643,270  

Marine Products Corp.

     95,134        1,254,817  

Smith & Wesson Brands, Inc.(a)

     238,900        2,940,859  

Sturm Ruger & Co., Inc.

     59,446        3,414,578  
     

 

 

 
Total Leisure Products

 

     16,479,535  
Life Sciences Tools & Services – 0.1%

 

Bio-Techne Corp.

     34,355        2,548,797  
Machinery – 5.5%

 

Alamo Group, Inc.

     16,533        3,044,717  

Albany International Corp., Class A

     37,540        3,354,574  

Astec Industries, Inc.

     54,844        2,262,315  

Barnes Group, Inc.

     91,316        3,678,208  

Columbus McKinnon Corp.

     69,931        2,598,636  

 

See Notes to Financial Statements.

 

82   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. SmallCap Dividend Fund (DES)

March 31, 2023

 

 

 

Investments    Shares      Value  

Douglas Dynamics, Inc.

     83,842      $ 2,673,721  

Eastern Co.

     19,120        372,458  

Enerpac Tool Group Corp.

     72,824        1,857,012  

EnPro Industries, Inc.

     31,912        3,315,338  

Esab Corp.

     51,465        3,040,038  

ESCO Technologies, Inc.

     22,256        2,124,335  

Federal Signal Corp.

     77,906        4,223,284  

Gorman-Rupp Co.

     104,350        2,608,750  

Graham Corp.*

     53,890        704,881  

Greenbrier Cos., Inc.(a)

     109,547        3,524,127  

Helios Technologies, Inc.

     49,074        3,209,440  

Hillenbrand, Inc.(a)

     151,235        7,188,200  

Hurco Cos., Inc.

     30,953        783,730  

Hyster-Yale Materials Handling, Inc.

     67,152        3,350,213  

John Bean Technologies Corp.

     29,459        3,219,574  

Kadant, Inc.

     14,180        2,956,814  

Kennametal, Inc.(a)

     213,196        5,879,946  

Lindsay Corp.

     17,297        2,614,096  

Miller Industries, Inc.

     61,163        2,162,112  

Mueller Water Products, Inc., Class A

     359,508        5,011,542  

Omega Flex, Inc.(a)

     23,898        2,663,193  

Park-Ohio Holdings Corp.

     70,954        857,124  

REV Group, Inc.

     173,982        2,086,044  

Shyft Group, Inc.

     84,202        1,915,596  

Standex International Corp.

     27,651        3,385,588  

Tennant Co.

     47,570        3,259,972  

Terex Corp.

     87,856        4,250,473  

Trinity Industries, Inc.

     230,111        5,605,504  

Wabash National Corp.

     120,176        2,955,128  
     

 

 

 
Total Machinery

 

     102,736,683  
Marine Transportation – 0.3%

 

Matson, Inc.

     78,562        4,687,795  
Media – 0.9%

 

Entravision Communications Corp., Class A

     336,909        2,038,299  

Gray Television, Inc.

     304,618        2,656,269  

John Wiley & Sons, Inc., Class A(a)

     125,199        4,853,965  

Saga Communications, Inc., Class A

     22,995        511,179  

Scholastic Corp.

     84,967        2,907,571  

Sinclair Broadcast Group, Inc., Class A(a)

     273,039        4,685,349  
     

 

 

 
Total Media

 

     17,652,632  
Metals & Mining – 2.7%

 

Alpha Metallurgical Resources, Inc.

     26,546        4,141,176  

Carpenter Technology Corp.

     97,485        4,363,429  

Compass Minerals International, Inc.(a)

     65,925        2,260,568  

Haynes International, Inc.

     53,980        2,703,858  

Hecla Mining Co.(a)

     518,683        3,283,263  

Kaiser Aluminum Corp.(a)

     56,671        4,229,357  

Materion Corp.

     28,131        3,263,196  

Olympic Steel, Inc.(a)

     48,898        2,552,965  

Ramaco Resources, Inc.(a)

     239,513        2,110,110  

Ryerson Holding Corp.

     103,955        3,781,883  

Schnitzer Steel Industries, Inc., Class A

     90,822        2,824,564  

SunCoke Energy, Inc.

     476,843        4,282,050  

Tredegar Corp.(a)

     188,288      1,719,069  

Warrior Met Coal, Inc.

     73,626        2,702,811  

Worthington Industries, Inc.

     104,082        6,728,901  
     

 

 

 
Total Metals & Mining

 

     50,947,200  
Multi-Utilities – 1.4%

 

Avista Corp.

     243,132        10,320,954  

NorthWestern Corp.

     196,919        11,393,733  

Unitil Corp.

     77,998        4,449,006  
     

 

 

 
Total Multi-Utilities

 

     26,163,693  
Office REITs – 1.4%

 

Corporate Office Properties Trust

     97,848        2,319,976  

Douglas Emmett, Inc.

     452,386        5,577,919  

Easterly Government Properties, Inc.

     79,472        1,091,945  

Highwoods Properties, Inc.

     284,028        6,586,609  

Hudson Pacific Properties, Inc.

     361,683        2,405,192  

JBG SMITH Properties

     55,925        842,231  

Orion Office REIT, Inc.

     77,573        519,739  

Paramount Group, Inc.

     145,503        663,494  

SL Green Realty Corp.

     264,627        6,224,027  
     

 

 

 
Total Office REITs

 

     26,231,132  
Oil, Gas & Consumable Fuels – 5.1%

 

Arch Resources, Inc.

     103,064        13,548,793  

Berry Corp.

     475,094        3,729,488  

California Resources Corp.

     227,273        8,750,010  

CONSOL Energy, Inc.

     201,058        11,715,650  

Crescent Energy Co., Class A(a)

     259,052        2,929,878  

Delek U.S. Holdings, Inc.

     196,602        4,512,016  

Evolution Petroleum Corp.

     194,947        1,230,116  

Excelerate Energy, Inc., Class A

     59,881        1,325,765  

HighPeak Energy, Inc.(a)

     108,568        2,497,064  

Kinetik Holdings, Inc.(a)

     237,017        7,418,632  

NACCO Industries, Inc., Class A

     29,991        1,081,775  

Northern Oil & Gas, Inc.(a)

     224,022        6,799,068  

Permian Resources Corp.(a)

     566,726        5,950,623  

PHX Minerals, Inc.

     186,900        489,678  

Ranger Oil Corp., Class A

     46,757        1,909,556  

Riley Exploration Permian, Inc.

     126,781        4,825,285  

Sitio Royalties Corp., Class A

     427,313        9,657,274  

VAALCO Energy, Inc.(a)

     593,683        2,689,384  

World Fuel Services Corp.

     150,785        3,852,557  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     94,912,612  
Paper & Forest Products – 0.3%

 

Sylvamo Corp.

     103,202        4,774,125  
Personal Care Products – 1.5%

 

Edgewell Personal Care Co.(a)

     89,915        3,814,194  

Inter Parfums, Inc.

     80,514        11,452,312  

Medifast, Inc.

     52,751        5,468,696  

Nu Skin Enterprises, Inc., Class A

     163,161        6,413,859  
     

 

 

 
Total Personal Care Products

 

     27,149,061  
Pharmaceuticals – 0.1%

 

Phibro Animal Health Corp., Class A

     123,188        1,887,240  

 

See Notes to Financial Statements.

 

WisdomTree Trust      83  


Schedule of Investments (continued)

WisdomTree U.S. SmallCap Dividend Fund (DES)

March 31, 2023

 

 

 

Investments    Shares      Value  
Professional Services – 1.8%

 

Barrett Business Services, Inc.

     22,999      $ 2,038,631  

BGSF, Inc.

     50,725        540,221  

CRA International, Inc.

     24,010        2,588,758  

CSG Systems International, Inc.

     92,741        4,980,192  

Heidrick & Struggles International, Inc.

     85,893        2,607,712  

HireQuest, Inc.

     22,827        492,378  

ICF International, Inc.

     20,313        2,228,336  

Kelly Services, Inc., Class A

     130,555        2,165,907  

Kforce, Inc.

     75,362        4,765,893  

Korn Ferry

     85,559        4,426,823  

Resources Connection, Inc.

     171,553        2,926,694  

TTEC Holdings, Inc.

     102,124        3,802,077  
     

 

 

 
Total Professional Services

 

     33,563,622  
Real Estate Management & Development – 0.5%

 

eXp World Holdings, Inc.(a)

     148,665        1,886,559  

Kennedy-Wilson Holdings, Inc.

     184,987        3,068,934  

Marcus & Millichap, Inc.

     36,175        1,161,579  

Newmark Group, Inc., Class A

     153,458        1,086,483  

St. Joe Co.(a)

     53,843        2,240,407  
     

 

 

 
Total Real Estate Management & Development

 

     9,443,962  
Residential REITs – 0.3%

 

BRT Apartments Corp.(a)

     46,071        908,520  

Centerspace

     12,211        667,087  

Elme Communities

     71,397        1,275,150  

NexPoint Residential Trust, Inc.

     26,738        1,167,649  

UMH Properties, Inc.

     88,208        1,304,596  
     

 

 

 
Total Residential REITs

 

     5,323,002  
Retail REITs – 1.4%

 

Alexander’s, Inc.(a)

     11,720        2,270,750  

CBL & Associates Properties, Inc.(a)

     25,179        645,590  

Getty Realty Corp.

     85,905        3,095,157  

InvenTrust Properties Corp.

     59,892        1,401,473  

Macerich Co.

     294,987        3,126,862  

NETSTREIT Corp.

     53,751        982,568  

Retail Opportunity Investments Corp.

     110,613        1,544,158  

RPT Realty

     70,528        670,721  

Saul Centers, Inc.

     30,598        1,193,322  

SITE Centers Corp.

     382,068        4,691,795  

Tanger Factory Outlet Centers, Inc.

     158,346        3,108,332  

Urban Edge Properties

     72,060        1,085,224  

Urstadt Biddle Properties, Inc., Class A

     34,579        607,553  

Whitestone REIT

     88,546        814,623  
     

 

 

 
Total Retail REITs

 

     25,238,128  
Semiconductors & Semiconductor Equipment – 0.1%

 

NVE Corp.

     28,052        2,328,035  
Software – 1.3%

 

A10 Networks, Inc.

     168,199        2,605,402  

Adeia, Inc.

     269,301        2,386,007  

American Software, Inc., Class A

     174,509        2,200,558  

Ebix, Inc.(a)

     120,627        1,591,070  

InterDigital, Inc.

     89,218        6,503,992  

Pegasystems, Inc.

     76,170      3,692,722  

Progress Software Corp.(a)

     82,799        4,756,803  
     

 

 

 
Total Software

 

     23,736,554  
Specialized REITs – 1.6%

 

EPR Properties

     414,239        15,782,506  

Farmland Partners, Inc.

     34,497        369,118  

Four Corners Property Trust, Inc.

     193,803        5,205,548  

Gladstone Land Corp.(a)

     40,122        668,031  

Outfront Media, Inc.

     399,677        6,486,758  

Uniti Group, Inc.

     422,812        1,500,983  
     

 

 

 
Total Specialized REITs

 

     30,012,944  
Specialty Retail – 3.1%

 

Aaron’s Co., Inc.

     173,101        1,672,156  

Arko Corp.

     272,179        2,310,800  

Big 5 Sporting Goods Corp.

     153,950        1,183,876  

Buckle, Inc.

     207,083        7,390,792  

Caleres, Inc.

     100,756        2,179,352  

Camping World Holdings, Inc., Class A

     232,513        4,852,546  

Cato Corp., Class A

     66,992        592,209  

Designer Brands, Inc., Class A

     220,644        1,928,429  

Group 1 Automotive, Inc.

     15,695        3,553,662  

Guess?, Inc.

     234,566        4,564,654  

Haverty Furniture Cos., Inc.

     78,472        2,504,042  

Hibbett, Inc.

     37,602        2,217,766  

Monro, Inc.

     84,815        4,192,405  

PetMed Express, Inc.(a)

     113,883        1,849,460  

Shoe Carnival, Inc.

     89,896        2,305,832  

Sonic Automotive, Inc., Class A

     65,372        3,552,315  

Upbound Group, Inc.

     287,587        7,048,757  

Winmark Corp.

     9,872        3,163,285  
     

 

 

 
Total Specialty Retail

 

     57,062,338  
Technology Hardware, Storage & Peripherals – 0.7%

 

Immersion Corp.

     154,964        1,385,378  

Xerox Holdings Corp.

     720,033        11,088,508  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     12,473,886  
Textiles, Apparel & Luxury Goods – 2.4%

 

Carter’s, Inc.(a)

     126,696        9,111,976  

Kontoor Brands, Inc.(a)

     202,710        9,809,137  

Levi Strauss & Co., Class A(a)

     289,971        5,286,172  

Movado Group, Inc.

     87,577        2,519,590  

Oxford Industries, Inc.

     44,920        4,743,103  

Rocky Brands, Inc.

     39,546        912,326  

Steven Madden Ltd.

     171,657        6,179,652  

Superior Group of Cos., Inc.(a)

     94,214        741,464  

Wolverine World Wide, Inc.

     355,637        6,063,611  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     45,367,031  
Tobacco – 1.0%

 

Turning Point Brands, Inc.

     88,108        1,850,268  

Universal Corp.

     125,634        6,644,782  

Vector Group Ltd.

     865,047        10,389,215  
     

 

 

 
Total Tobacco

 

     18,884,265  

 

See Notes to Financial Statements.

 

84   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree U.S. SmallCap Dividend Fund (DES)

March 31, 2023

 

 

 

Investments    Shares      Value  
Trading Companies & Distributors – 1.7%

 

Alta Equipment Group, Inc.

     160,711      $ 2,547,269  

Boise Cascade Co.

     55,715        3,523,974  

Global Industrial Co.

     136,202        3,655,662  

H&E Equipment Services, Inc.

     111,820        4,945,799  

McGrath RentCorp

     58,482        5,456,955  

Rush Enterprises, Inc., Class A

     119,659        6,533,381  

Veritiv Corp.

     35,789        4,836,526  
     

 

 

 
Total Trading Companies & Distributors

 

     31,499,566  
Water Utilities – 1.0%

 

Artesian Resources Corp., Class A(a)

     46,067        2,550,269  

California Water Service Group

     89,241        5,193,826  

Global Water Resources, Inc.

     95,345        1,185,138  

Middlesex Water Co.

     39,850        3,113,082  

SJW Group(a)

     59,420        4,523,645  

York Water Co.(a)

     45,253        2,022,809  
     

 

 

 
Total Water Utilities

 

     18,588,769  
Wireless Telecommunication Services – 0.5%

 

Shenandoah Telecommunications Co.(a)

     103,767        1,973,648  

Spok Holdings, Inc.

     90,337        915,114  

Telephone & Data Systems, Inc.

     598,283        6,287,954  
     

 

 

 
Total Wireless Telecommunication Services

 

     9,176,716  
Total United States

 

     1,839,706,338  
Puerto Rico – 0.7%

 

Banks – 0.5%

 

First Bancorp

     563,635        6,436,712  

OFG Bancorp

     101,216        2,524,327  
     

 

 

 
Total Banks

 

     8,961,039  
Financial Services – 0.2%

 

EVERTEC, Inc.

     89,764      3,029,535  
Total Puerto Rico

 

     11,990,574  
TOTAL COMMON STOCKS
(Cost: $1,863,936,300)

 

     1,851,696,912  
EXCHANGE-TRADED FUND – 0.0%

 

United States – 0.0%

 

WisdomTree U.S. MidCap Dividend Fund(a)(b)

     
(Cost: $532,733)      13,330        546,263  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.3%

 

United States – 1.3%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(c)

     
(Cost: $24,262,147)      24,262,147        24,262,147  
TOTAL INVESTMENTS IN SECURITIES – 101.1%
(Cost: $1,888,731,180)

 

     1,876,505,322  

Other Assets less Liabilities – (1.1)%

        (19,824,161
     

 

 

 
NET ASSETS – 100.0%

 

   $ 1,856,681,161  
* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $196,578,788. The Fund also had securities on loan having a total market value of $105,237 that were sold and pending settlement. The total market value of the collateral held by the Fund was $197,740,673. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $173,478,526.

 

(b) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate    Value at
3/31/2022
     Purchases/
Additions
     Sales/
Reductions
     Realized
Gain/(Loss)
     Change in
Unrealized
Appreciation/
Depreciation
     Value at
3/31/2023
     Dividend
Income
 

WisdomTree U.S. MidCap Dividend Fund

   $ 1,218,396      $ 14,617,332      $ 14,528,606      $ (762,679    $ 1,820      $ 546,263      $ 100,535  

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

  

Investments in Securities

     

Common Stocks

   $ 1,851,696,912      $      $      $ 1,851,696,912  

Exchange-Traded Fund

     546,263                      546,263  

Investment of Cash Collateral for Securities Loaned

            24,262,147               24,262,147  

Total Investments in Securities

   $ 1,852,243,175      $ 24,262,147      $      $ 1,876,505,322  

 

See Notes to Financial Statements.

 

WisdomTree Trust      85  


Schedule of Investments

WisdomTree U.S. SmallCap Fund (EES)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.7%

 

United States – 99.6%

 

Aerospace & Defense – 0.9%

 

AAR Corp.*

     13,948      $ 760,863  

Aerovironment, Inc.*

     4,681        429,061  

AerSale Corp.*

     27,085        466,404  

Cadre Holdings, Inc.

     6,234        134,280  

Ducommun, Inc.*

     18,765        1,026,633  

Kaman Corp.

     6,044        138,166  

Kratos Defense & Security Solutions, Inc.*

     30,915        416,734  

Maxar Technologies, Inc.

     14,365        733,477  

National Presto Industries, Inc.

     738        53,203  

Park Aerospace Corp.

     7,877        105,946  

Triumph Group, Inc.*

     32,065        371,633  

V2X, Inc.*

     13,638        541,701  
     

 

 

 
Total Aerospace & Defense

 

     5,178,101  
Air Freight & Logistics – 0.2%

 

Air Transport Services Group, Inc.*

     46,082        959,888  
Automobile Components – 1.7%

 

American Axle & Manufacturing Holdings, Inc.*

     50,391        393,554  

Dana, Inc.

     33,115        498,381  

Gentherm, Inc.*

     7,708        465,717  

Holley, Inc.*(a)

     111,721        306,116  

LCI Industries

     31,505        3,461,454  

Modine Manufacturing Co.*

     30,044        692,514  

Motorcar Parts of America, Inc.*

     8,547        63,590  

Patrick Industries, Inc.

     40,400        2,779,924  

Standard Motor Products, Inc.

     13,464        496,956  

XPEL, Inc.*

     5,515        374,744  
     

 

 

 
Total Automobile Components

 

     9,532,950  
Automobiles – 0.5%

 

Winnebago Industries, Inc.

     51,462        2,969,357  
Banks – 11.5%

 

1st Source Corp.

     14,779        637,714  

ACNB Corp.

     5,360        174,468  

Amalgamated Financial Corp.

     15,953        282,209  

Amerant Bancorp, Inc.

     17,811        387,567  

American National Bankshares, Inc.

     6,976        221,139  

Arrow Financial Corp.

     10,394        258,915  

Axos Financial, Inc.*

     42,210        1,558,393  

Banc of California, Inc.

     43,827        549,152  

Bancorp, Inc.*

     24,880        692,908  

Bank First Corp.(a)

     2,667        196,238  

Bank of Marin Bancorp

     9,342        204,496  

Bankwell Financial Group, Inc.

     9,003        223,815  

Banner Corp.

     19,203        1,044,067  

Baycom Corp.(a)

     9,792        167,247  

BCB Bancorp, Inc.

     16,454        216,041  

Berkshire Hills Bancorp, Inc.

     18,824        471,729  

Bridgewater Bancshares, Inc.*

     11,323        122,741  

Brookline Bancorp, Inc.

     65,680        689,640  

Business First Bancshares, Inc.

     16,586        284,118  

Byline Bancorp, Inc.

     29,363      634,828  

Cambridge Bancorp

     4,193        271,748  

Camden National Corp.

     11,749        425,196  

Capital Bancorp, Inc.

     10,076        167,665  

Capital City Bank Group, Inc.

     4,675        137,024  

Capitol Federal Financial, Inc.

     82,389        554,478  

Capstar Financial Holdings, Inc.

     19,117        289,623  

Carter Bankshares, Inc.*

     10,398        145,572  

Central Pacific Financial Corp.

     29,295        524,381  

Citizens & Northern Corp.

     7,763        165,973  

City Holding Co.

     6,619        601,535  

Civista Bancshares, Inc.

     12,485        210,747  

CNB Financial Corp.

     18,490        355,008  

Coastal Financial Corp.*

     3,635        130,896  

Colony Bankcorp, Inc.

     19,741        201,358  

Columbia Financial, Inc.*(a)

     26,724        488,515  

Community Trust Bancorp, Inc.

     10,132        384,509  

ConnectOne Bancorp, Inc.

     26,467        467,937  

CrossFirst Bankshares, Inc.*

     36,521        382,740  

Customers Bancorp, Inc.*

     63,654        1,178,872  

Dime Community Bancshares, Inc.

     22,436        509,746  

Eagle Bancorp, Inc.

     14,058        470,521  

Enterprise Bancorp, Inc.

     8,860        278,736  

Enterprise Financial Services Corp.

     22,921        1,022,047  

Equity Bancshares, Inc., Class A

     8,777        213,895  

Esquire Financial Holdings, Inc.

     3,493        136,576  

Farmers & Merchants Bancorp, Inc.

     8,212        199,716  

Farmers National Banc Corp.

     21,308        269,333  

FB Financial Corp.

     19,422        603,636  

Financial Institutions, Inc.

     22,125        426,570  

First Bancorp

     15,271        542,426  

First Bancorp, Inc.

     9,681        250,641  

First Bancshares, Inc.

     14,175        366,140  

First Busey Corp.

     34,662        705,025  

First Business Financial Services, Inc.

     5,045        153,923  

First Commonwealth Financial Corp.

     63,125        784,644  

First Community Bankshares, Inc.

     10,007        250,675  

First Financial Bancorp

     64,045        1,394,260  

First Financial Corp.

     8,486        318,055  

First Foundation, Inc.

     62,265        463,874  

First Internet Bancorp

     12,771        212,637  

First Mid Bancshares, Inc.

     18,297        498,044  

First of Long Island Corp.

     20,247        273,335  

First Western Financial, Inc.*

     3,986        78,923  

Five Star Bancorp

     10,987        234,463  

Flushing Financial Corp.

     30,817        458,865  

FS Bancorp, Inc.

     6,932        208,029  

FVCBankcorp, Inc.*(a)

     11,325        120,611  

German American Bancorp, Inc.

     13,142        438,549  

Great Southern Bancorp, Inc.

     7,421        376,096  

Greene County Bancorp, Inc.

     3,708        84,097  

Guaranty Bancshares, Inc.

     8,694        242,302  

Hanmi Financial Corp.

     25,091        465,940  

HarborOne Bancorp, Inc.

     21,352        260,494  

 

See Notes to Financial Statements.

 

86   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. SmallCap Fund (EES)

March 31, 2023

 

 

 

Investments    Shares      Value  

Heartland Financial USA, Inc.

     23,710      $ 909,516  

Heritage Commerce Corp.

     22,551        187,850  

Heritage Financial Corp.

     23,500        502,900  

Hilltop Holdings, Inc.

     26,599        789,192  

Hingham Institution for Savings(a)

     1,113        259,819  

Home Bancorp, Inc.

     6,079        200,789  

HomeStreet, Inc.

     25,658        461,587  

HomeTrust Bancshares, Inc.

     11,378        279,785  

Hope Bancorp, Inc.

     114,673        1,126,089  

Horizon Bancorp, Inc.

     42,894        474,408  

Independent Bank Corp.

     14,889        264,578  

John Marshall Bancorp, Inc.

     5,431        117,310  

Kearny Financial Corp.

     49,493        401,883  

Lakeland Bancorp, Inc.

     32,601        509,880  

Lakeland Financial Corp.

     9,189        575,599  

Live Oak Bancshares, Inc.

     20,719        504,922  

Luther Burbank Corp.

     60,421        572,791  

Macatawa Bank Corp.

     11,079        113,227  

Mercantile Bank Corp.

     11,018        336,930  

Metrocity Bankshares, Inc.

     21,908        374,408  

Metropolitan Bank Holding Corp.*

     10,514        356,319  

Mid Penn Bancorp, Inc.

     6,706        171,741  

Midland States Bancorp, Inc.

     22,911        490,754  

MidWestOne Financial Group, Inc.

     12,531        306,007  

MVB Financial Corp.

     11,708        241,653  

National Bank Holdings Corp., Class A

     14,509        485,471  

NBT Bancorp, Inc.

     24,053        810,827  

Nicolet Bankshares, Inc.*

     7,124        449,168  

Northeast Bank

     8,816        296,747  

Northfield Bancorp, Inc.

     29,288        345,013  

Northrim Bancorp, Inc.

     5,130        242,033  

Northwest Bancshares, Inc.

     58,344        701,878  

OceanFirst Financial Corp.

     35,360        653,453  

Old Second Bancorp, Inc.

     9,967        140,136  

Origin Bancorp, Inc.

     15,210        489,002  

Orrstown Financial Services, Inc.

     7,475        148,454  

Parke Bancorp, Inc.

     15,207        270,380  

Pathward Financial, Inc.

     24,219        1,004,846  

PCB Bancorp

     16,131        233,738  

Peapack-Gladstone Financial Corp.

     9,194        272,326  

Peoples Bancorp, Inc.

     26,302        677,277  

Peoples Financial Services Corp.

     3,974        172,273  

Preferred Bank

     9,479        519,544  

Premier Financial Corp.

     19,874        411,988  

Primis Financial Corp.

     8,842        85,148  

Provident Bancorp, Inc.(a)

     27,407        187,464  

Provident Financial Services, Inc.

     50,878        975,840  

QCR Holdings, Inc.

     14,404        632,480  

RBB Bancorp

     21,625        335,188  

Renasant Corp.

     27,595        843,855  

Republic Bancorp, Inc., Class A

     14,794        627,709  

Republic First Bancorp, Inc.*(a)

     90,556        123,156  

S&T Bancorp, Inc.

     21,810        685,925  

Sandy Spring Bancorp, Inc.

     24,266        630,431  

Seacoast Banking Corp. of Florida

     29,655      702,823  

Shore Bancshares, Inc.

     7,467        106,629  

Sierra Bancorp

     18,561        319,620  

Silvergate Capital Corp., Class A*

     35,578        57,636  

SmartFinancial, Inc.

     6,243        144,463  

South Plains Financial, Inc.

     10,803        231,292  

Southern First Bancshares, Inc.*

     5,837        179,196  

Southern Missouri Bancorp, Inc.

     5,400        202,014  

Southside Bancshares, Inc.

     22,333        741,456  

Stellar Bancorp, Inc.

     13,548        333,416  

Stock Yards Bancorp, Inc.

     9,310        513,353  

Summit Financial Group, Inc.

     12,016        249,332  

Third Coast Bancshares, Inc.*

     6,779        106,498  

Towne Bank

     42,776        1,139,980  

TriCo Bancshares

     14,966        622,436  

Triumph Financial, Inc.*

     10,598        615,320  

TrustCo Bank Corp.

     10,988        350,957  

Trustmark Corp.

     29,447        727,341  

Unity Bancorp, Inc.

     8,086        184,442  

Univest Financial Corp.

     13,977        331,814  

Veritex Holdings, Inc.

     33,085        604,132  

Washington Federal, Inc.

     41,725        1,256,757  

Washington Trust Bancorp, Inc.

     11,768        407,879  

WesBanco, Inc.

     36,040        1,106,428  

West Bancorp, Inc.

     18,280        333,976  

Westamerica BanCorp

     11,125        492,838  
     

 

 

 
Total Banks

 

     65,457,741  
Beverages – 0.1%

 

Duckhorn Portfolio, Inc.*

     31,444        499,960  

Vita Coco Co., Inc.*

     11,670        228,965  
     

 

 

 
Total Beverages

 

     728,925  
Biotechnology – 1.7%

 

ACADIA Pharmaceuticals, Inc.*

     33,555        631,505  

Arcus Biosciences, Inc.*

     16,352        298,261  

Avid Bioservices, Inc.*

     14,286        268,005  

Catalyst Pharmaceuticals, Inc.*

     26,194        434,297  

Chimerix, Inc.*

     162,303        204,502  

Dynavax Technologies Corp.*

     154,156        1,512,270  

Eagle Pharmaceuticals, Inc.*

     19,744        560,137  

Emergent BioSolutions, Inc.*

     84,370        874,073  

Humacyte, Inc.*(a)

     85,958        265,610  

Intercept Pharmaceuticals, Inc.*

     77,656        1,042,920  

Ironwood Pharmaceuticals, Inc.*

     98,719        1,038,524  

iTeos Therapeutics, Inc.*

     65,426        890,448  

Organogenesis Holdings, Inc.*

     207,534        442,047  

Puma Biotechnology, Inc.*

     26,789        82,778  

REGENXBIO, Inc.*

     22,280        421,315  

Selecta Biosciences, Inc.*(a)

     246,830        343,094  

Vanda Pharmaceuticals, Inc.*

     2,858        19,406  

Xencor, Inc.*

     12,717        354,677  
     

 

 

 
Total Biotechnology

 

     9,683,869  
Building Products – 2.4%

 

American Woodmark Corp.*

     13,424        698,988  

 

See Notes to Financial Statements.

 

WisdomTree Trust      87  


Schedule of Investments (continued)

WisdomTree U.S. SmallCap Fund (EES)

March 31, 2023

 

 

 

Investments    Shares      Value  

Apogee Enterprises, Inc.

     12,164      $ 526,093  

AZZ, Inc.

     17,778        733,165  

CSW Industrials, Inc.

     4,549        631,992  

Gibraltar Industries, Inc.*

     14,920        723,620  

Griffon Corp.

     39,728        1,271,693  

Hayward Holdings, Inc.*(a)

     191,750        2,247,310  

Insteel Industries, Inc.

     27,859        775,037  

Janus International Group, Inc.*

     54,003        532,470  

JELD-WEN Holding, Inc.*

     117,495        1,487,487  

PGT Innovations, Inc.*

     42,243        1,060,722  

Quanex Building Products Corp.

     24,089        518,636  

Resideo Technologies, Inc.*

     126,956        2,320,756  
     

 

 

 
Total Building Products

 

     13,527,969  
Capital Markets – 4.7%

 

Artisan Partners Asset Management, Inc., Class A

     40,250        1,287,195  

AssetMark Financial Holdings, Inc.*

     32,518        1,022,691  

Avantax, Inc.*

     25,873        680,977  

Bakkt Holdings, Inc.*(a)

     161,297        277,431  

BGC Partners, Inc., Class A

     524,613        2,743,726  

Bridge Investment Group Holdings, Inc., Class A

     19,351        219,247  

Brightsphere Investment Group, Inc.

     22,559        531,941  

Diamond Hill Investment Group, Inc.

     1,709        281,267  

Donnelley Financial Solutions, Inc.*

     20,519        838,406  

Focus Financial Partners, Inc., Class A*

     51,879        2,690,964  

GCM Grosvenor, Inc., Class A

     81,390        635,656  

Greenhill & Co., Inc.

     2,761        24,490  

Open Lending Corp., Class A*

     104,733        737,320  

Oppenheimer Holdings, Inc., Class A

     13,821        541,092  

P10, Inc., Class A

     56,384        570,042  

Perella Weinberg Partners(a)

     51,621        469,751  

Piper Sandler Cos.

     12,406        1,719,596  

PJT Partners, Inc., Class A

     11,483        828,958  

Silvercrest Asset Management Group, Inc., Class A

     6,896        125,369  

StepStone Group, Inc., Class A

     22,095        536,246  

StoneX Group, Inc.*

     12,502        1,294,332  

TPG, Inc.

     84,879        2,489,501  

Victory Capital Holdings, Inc., Class A

     77,021        2,254,405  

Virtu Financial, Inc., Class A

     118,200        2,233,980  

Virtus Investment Partners, Inc.

     8,410        1,601,180  
     

 

 

 
Total Capital Markets

 

     26,635,763  
Chemicals – 1.6%

 

AdvanSix, Inc.

     27,876        1,066,814  

American Vanguard Corp.

     11,258        246,325  

Ecovyst, Inc.*

     62,672        692,526  

FutureFuel Corp.

     25,145        185,570  

Hawkins, Inc.

     11,185        489,679  

Intrepid Potash, Inc.*

     15,472        427,027  

Koppers Holdings, Inc.

     23,774        831,377  

Kronos Worldwide, Inc.

     117,176        1,079,191  

LSB Industries, Inc.*

     89,574        925,299  

Mativ Holdings, Inc.

     24,287        521,442  

Minerals Technologies, Inc.

     18,297        1,105,505  

Stepan Co.

     7,761        799,616  

Valhi, Inc.

     40,397      703,312  
     

 

 

 
Total Chemicals

 

     9,073,683  
Commercial Services & Supplies – 1.9%

 

ACCO Brands Corp.

     155,189        825,605  

ARC Document Solutions, Inc.

     24,573        77,896  

Aris Water Solutions, Inc., Class A(a)

     10,431        81,257  

Brady Corp., Class A

     16,920        909,112  

BrightView Holdings, Inc.*

     109,077        613,013  

CECO Environmental Corp.*

     22,657        316,971  

CoreCivic, Inc.*

     44,883        412,924  

Deluxe Corp.

     68,049        1,088,784  

Ennis, Inc.

     15,871        334,719  

GEO Group, Inc.*(a)

     97,009        765,401  

Harsco Corp.*

     5,183        35,400  

Healthcare Services Group, Inc.

     14,478        200,810  

Heritage-Crystal Clean, Inc.*

     15,277        544,014  

HNI Corp.

     10,428        290,316  

Interface, Inc.

     58,128        471,999  

KAR Auction Services, Inc.*

     20,816        284,763  

Kimball International, Inc., Class B

     39,348        487,915  

Liquidity Services, Inc.*

     14,349        188,976  

Matthews International Corp., Class A

     16,704        602,346  

MillerKnoll, Inc.

     48,840        998,778  

Pitney Bowes, Inc.

     31,621        123,006  

Quad/Graphics, Inc.*

     42,085        180,545  

SP Plus Corp.*

     11,547        395,947  

Steelcase, Inc., Class A

     35,221        296,561  

VSE Corp.

     7,052        316,635  
     

 

 

 
Total Commercial Services & Supplies

 

     10,843,693  
Communications Equipment – 0.8%

 

ADTRAN Holdings, Inc.

     16,001        253,776  

Aviat Networks, Inc.*

     8,867        305,557  

Clearfield, Inc.*

     4,061        189,161  

CommScope Holding Co., Inc.*

     242,834        1,546,852  

Digi International, Inc.*

     11,404        384,087  

DZS, Inc.*

     5,153        40,657  

Harmonic, Inc.*

     28,408        414,473  

Lantronix, Inc.*

     10,158        44,086  

NETGEAR, Inc.*

     5,252        97,214  

Ribbon Communications, Inc.*

     11,195        38,287  

Viavi Solutions, Inc.*

     131,524        1,424,405  
     

 

 

 
Total Communications Equipment

 

     4,738,555  
Construction & Engineering – 0.8%

 

Ameresco, Inc., Class A*

     10,443        514,005  

Argan, Inc.

     7,774        314,614  

Concrete Pumping Holdings, Inc.*

     25,253        171,720  

Construction Partners, Inc., Class A*

     11,948        321,879  

Granite Construction, Inc.

     13,179        541,393  

IES Holdings, Inc.*

     3,814        164,345  

MYR Group, Inc.*

     5,921        746,105  

Northwest Pipe Co.*

     7,280        227,354  

Primoris Services Corp.

     33,307        821,351  

 

See Notes to Financial Statements.

 

88   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. SmallCap Fund (EES)

March 31, 2023

 

 

 

Investments    Shares      Value  

Sterling Infrastructure, Inc.*

     21,104      $ 799,420  
     

 

 

 
Total Construction & Engineering

 

     4,622,186  
Construction Materials – 0.1%

 

United States Lime & Minerals, Inc.

     2,499        381,572  
Consumer Finance – 2.9%

 

Atlanticus Holdings Corp.*

     26,972        731,750  

Bread Financial Holdings, Inc.

     93,997        2,849,989  

Consumer Portfolio Services, Inc.*

     39,827        425,751  

Encore Capital Group, Inc.*

     42,459        2,142,057  

Enova International, Inc.*

     41,171        1,829,227  

EZCORP, Inc., Class A*

     37,380        321,468  

Green Dot Corp., Class A*

     49,771        855,066  

LendingClub Corp.*

     193,708        1,396,635  

Navient Corp.

     191,375        3,060,086  

Oportun Financial Corp.*(a)

     64,600        249,356  

PRA Group, Inc.*

     23,035        897,444  

PROG Holdings, Inc.*

     46,880        1,115,275  

Regional Management Corp.

     18,983        495,266  

Sunlight Financial Holdings, Inc.*

     45,452        14,195  

World Acceptance Corp.*

     3,750        312,337  
     

 

 

 
Total Consumer Finance

 

     16,695,902  
Consumer Staples Distribution & Retail – 0.9%

 

Andersons, Inc.

     25,108        1,037,463  

Chefs’ Warehouse, Inc.*

     9,078        309,106  

Ingles Markets, Inc., Class A

     18,709        1,659,488  

Natural Grocers by Vitamin Cottage, Inc.

     10,303        121,060  

PriceSmart, Inc.

     9,598        686,065  

SpartanNash Co.

     21,177        525,190  

Village Super Market, Inc., Class A

     6,155        140,826  

Weis Markets, Inc.

     9,823        831,713  
     

 

 

 
Total Consumer Staples Distribution & Retail

 

     5,310,911  
Containers & Packaging – 1.0%

 

Myers Industries, Inc.

     15,989        342,644  

O-I Glass, Inc.*

     148,369        3,369,460  

Pactiv Evergreen, Inc.

     173,980        1,391,840  

TriMas Corp.

     21,839        608,435  
     

 

 

 
Total Containers & Packaging

 

     5,712,379  
Distributors – 0.1%

 

Funko, Inc., Class A*(a)

     39,099        368,704  
Diversified Consumer Services – 1.5%

 

Adtalem Global Education, Inc.*

     30,539        1,179,416  

Carriage Services, Inc.

     14,041        428,531  

Coursera, Inc.*

     33,806        389,445  

Duolingo, Inc.*

     6,717        957,777  

European Wax Center, Inc., Class A(a)

     12,578        238,982  

Frontdoor, Inc.*

     29,002        808,576  

Graham Holdings Co., Class B

     2,239        1,334,086  

Laureate Education, Inc.

     29,311        344,697  

Lincoln Educational Services Corp.*

     19,990        113,144  

Perdoceo Education Corp.*

     51,860        696,480  

Rover Group, Inc.*

     42,618        193,060  

Strategic Education, Inc.

     8,033        721,604  

Stride, Inc.*

     17,785      698,061  

Universal Technical Institute, Inc.*

     18,044        133,165  

WW International, Inc.*(a)

     122,366        504,148  
     

 

 

 
Total Diversified Consumer Services

 

     8,741,172  
Diversified REITs – 0.4%

 

Alexander & Baldwin, Inc.

     9,177        173,537  

Alpine Income Property Trust, Inc.

     9,289        156,334  

American Assets Trust, Inc.

     12,498        232,338  

Armada Hoffler Properties, Inc.

     46,214        545,787  

CTO Realty Growth, Inc.

     5,133        88,596  

Empire State Realty Trust, Inc., Class A

     41,983        272,470  

NexPoint Diversified Real Estate Trust(a)

     43,989        456,606  

One Liberty Properties, Inc.

     11,351        260,278  
     

 

 

 
Total Diversified REITs

 

     2,185,946  
Diversified Telecommunication Services – 0.1%

 

Bandwidth, Inc., Class A*

     2,407        36,586  

Consolidated Communications Holdings, Inc.*

     26,952        69,536  

EchoStar Corp., Class A*

     7,271        132,987  

IDT Corp., Class B*

     13,422        457,422  

Ooma, Inc.*

     1,426        17,839  
     

 

 

 
Total Diversified Telecommunication Services

 

     714,370  
Electric Utilities – 0.4%

 

Genie Energy Ltd., Class B

     3,837        53,028  

Otter Tail Corp.(a)

     32,560        2,353,111  

Via Renewables, Inc.(a)

     732        13,454  
     

 

 

 
Total Electric Utilities

 

     2,419,593  
Electrical Equipment – 0.8%

 

Allied Motion Technologies, Inc.

     5,231        202,178  

GrafTech International Ltd.

     482,009        2,342,564  

LSI Industries, Inc.

     16,226        226,028  

Powell Industries, Inc.

     3,821        162,736  

Preformed Line Products Co.

     5,041        645,450  

Thermon Group Holdings, Inc.*

     14,463        360,418  

Vicor Corp.*

     7,307        342,991  
     

 

 

 
Total Electrical Equipment

 

     4,282,365  
Electronic Equipment, Instruments & Components – 1.7%

 

Arlo Technologies, Inc.*

     34,171        207,076  

Bel Fuse, Inc., Class B

     12,310        462,610  

Benchmark Electronics, Inc.

     17,066        404,294  

CTS Corp.

     13,126        649,212  

ePlus, Inc.*

     14,520        712,061  

FARO Technologies, Inc.*

     6,997        172,196  

Itron, Inc.*

     6,306        349,668  

Kimball Electronics, Inc.*

     16,555        398,976  

Knowles Corp.*

     42,926        729,742  

Luna Innovations, Inc.*

     2,542        18,277  

Methode Electronics, Inc.

     17,608        772,639  

Napco Security Technologies, Inc.*

     10,135        380,873  

OSI Systems, Inc.*

     6,262        640,978  

PC Connection, Inc.

     12,092        543,656  

Richardson Electronics Ltd.

     4,984        111,243  

Rogers Corp.*

     6,095        996,106  

 

See Notes to Financial Statements.

 

WisdomTree Trust      89  


Schedule of Investments (continued)

WisdomTree U.S. SmallCap Fund (EES)

March 31, 2023

 

 

 

Investments    Shares      Value  

ScanSource, Inc.*

     21,294      $ 648,189  

TTM Technologies, Inc.*

     75,462        1,017,982  

Vishay Precision Group, Inc.*

     8,560        357,466  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     9,573,244  
Energy Equipment & Services – 0.9%

 

Archrock, Inc.

     39,754        388,397  

Bristow Group, Inc.*

     9,003        201,667  

DMC Global, Inc.*

     8,981        197,313  

Natural Gas Services Group, Inc.*

     8,194        84,480  

Newpark Resources, Inc.*

     26,151        100,681  

NexTier Oilfield Solutions, Inc.*

     180,871        1,437,924  

Oceaneering International, Inc.*

     21,344        376,295  

ProFrac Holding Corp., Class A*

     76,938        974,804  

RPC, Inc.

     104,685        805,028  

Select Energy Services, Inc., Class A

     36,225        252,126  

Solaris Oilfield Infrastructure, Inc., Class A

     14,797        126,366  

TETRA Technologies, Inc.*

     43,047        114,075  

U.S. Silica Holdings, Inc.*

     23,031        274,990  
     

 

 

 
Total Energy Equipment & Services

 

     5,334,146  
Entertainment – 0.1%

 

Marcus Corp.

     14,217        227,472  

Reservoir Media, Inc.*

     26,741        174,351  

Sciplay Corp., Class A*

     13,575        230,232  

Vivid Seats, Inc., Class A*(a)

     23,607        180,122  
     

 

 

 
Total Entertainment

 

     812,177  
Financial Services – 1.9%

 

A-Mark Precious Metals, Inc.

     35,031        1,213,824  

Alerus Financial Corp.

     15,530        249,256  

Cass Information Systems, Inc.

     5,663        245,265  

Federal Agricultural Mortgage Corp., Class C

     6,473        862,139  

I3 Verticals, Inc., Class A*

     10,705        262,594  

International Money Express, Inc.*

     22,702        585,258  

Merchants Bancorp

     47,453        1,235,676  

MoneyGram International, Inc.*

     31,319        326,344  

NMI Holdings, Inc., Class A*

     91,754        2,048,867  

Ocwen Financial Corp.*

     13,821        374,826  

Paymentus Holdings, Inc., Class A*

     12,672        112,274  

Payoneer Global, Inc.*

     72,819        457,303  

Repay Holdings Corp.*

     75,881        498,538  

Rocket Cos., Inc., Class A*(a)

     67,874        614,938  

Shift4 Payments, Inc., Class A*(a)

     10,120        767,096  

UWM Holdings Corp.(a)

     143,017        702,213  

Waterstone Financial, Inc.

     10,657        161,240  
     

 

 

 
Total Financial Services

 

     10,717,651  
Food Products – 0.9%

 

B&G Foods, Inc.

     6,793        105,495  

Cal-Maine Foods, Inc.

     29,392        1,789,679  

Calavo Growers, Inc.

     5,391        155,099  

Hain Celestial Group, Inc.*

     35,725        612,684  

John B. Sanfilippo & Son, Inc.

     5,928        574,542  

Mission Produce, Inc.*

     11,170        124,099  

Seneca Foods Corp., Class A*

     7,318        382,512  

Sovos Brands, Inc.*

     27,155      452,945  

Tootsie Roll Industries, Inc.

     14,567        654,219  

Utz Brands, Inc.

     19,150        315,400  

Whole Earth Brands, Inc.*(a)

     27,657        70,802  
     

 

 

 
Total Food Products

 

     5,237,476  
Gas Utilities – 0.2%

 

Chesapeake Utilities Corp.

     5,108        653,773  

Northwest Natural Holding Co.

     8,295        394,510  
     

 

 

 
Total Gas Utilities

 

     1,048,283  
Ground Transportation – 1.8%

 

ArcBest Corp.

     29,314        2,709,200  

Covenant Logistics Group, Inc.

     17,510        620,204  

Daseke, Inc.*

     59,744        461,821  

Heartland Express, Inc.

     31,167        496,179  

Marten Transport Ltd.

     34,381        720,282  

PAM Transportation Services, Inc.*

     27,504        787,440  

Schneider National, Inc., Class B

     123,446        3,302,180  

Universal Logistics Holdings, Inc.

     29,942        872,809  

Yellow Corp.*(a)

     108,865        220,996  
     

 

 

 
Total Ground Transportation

 

     10,191,111  
Health Care Equipment & Supplies – 1.7%

 

Atrion Corp.

     391        245,513  

Avanos Medical, Inc.*

     7,899        234,916  

Bioventus, Inc., Class A*(a)

     75,536        80,824  

CONMED Corp.

     8,915        925,912  

Embecta Corp.

     65,626        1,845,403  

Figs, Inc., Class A*(a)

     37,502        232,137  

Glaukos Corp.*

     8,393        420,489  

Heska Corp.*

     3,603        351,725  

Integer Holdings Corp.*

     10,342        801,505  

iRadimed Corp.

     4,855        191,044  

LeMaitre Vascular, Inc.

     4,954        254,982  

Mesa Laboratories, Inc.

     1,773        309,796  

NuVasive, Inc.*

     19,165        791,706  

Omnicell, Inc.*

     23,272        1,365,368  

Orthofix Medical, Inc.*

     1,185        19,849  

Semler Scientific, Inc.*

     4,431        118,751  

Sensus Healthcare, Inc.*(a)

     23,560        122,748  

UFP Technologies, Inc.*

     2,944        382,249  

Utah Medical Products, Inc.

     1,923        182,243  

Varex Imaging Corp.*

     22,303        405,692  

Zynex, Inc.*

     12,218        146,616  
     

 

 

 
Total Health Care Equipment & Supplies

 

     9,429,468  
Health Care Providers & Services – 1.6%

 

Addus HomeCare Corp.*

     4,251        453,837  

Agiliti, Inc.*(a)

     43,180        690,016  

Apollo Medical Holdings, Inc.*

     16,342        595,993  

Cross Country Healthcare, Inc.*

     38,130        851,062  

DocGo, Inc.*(a)

     33,185        287,050  

Enhabit, Inc.*

     38,855        540,473  

Fulgent Genetics, Inc.*(a)

     41,850        1,306,557  

Joint Corp.*

     593        9,980  

 

See Notes to Financial Statements.

 

90   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. SmallCap Fund (EES)

March 31, 2023

 

 

 

Investments    Shares      Value  

ModivCare, Inc.*

     9,080      $ 763,446  

National Research Corp.

     5,196        226,078  

Owens & Minor, Inc.*

     70,702        1,028,714  

Pediatrix Medical Group, Inc.*

     64,438        960,771  

Pennant Group, Inc.*

     3,381        48,281  

PetIQ, Inc.*

     25,001        286,011  

RadNet, Inc.*

     6,006        150,330  

Surgery Partners, Inc.*

     18,297        630,698  

U.S. Physical Therapy, Inc.

     2,265        221,766  
     

 

 

 
Total Health Care Providers & Services

 

     9,051,063  
Health Care REITs – 0.4%

 

Community Healthcare Trust, Inc.

     7,680        281,088  

LTC Properties, Inc.

     14,957        525,440  

National Health Investors, Inc.

     10,090        520,442  

Universal Health Realty Income Trust

     14,127        679,650  
     

 

 

 
Total Health Care REITs

 

     2,006,620  
Health Care Technology – 0.6%

 

Computer Programs & Systems, Inc.*

     9,637        291,037  

Definitive Healthcare Corp.*(a)

     22,685        234,336  

GoodRx Holdings, Inc., Class A*

     127,670        797,937  

HealthStream, Inc.*

     8,881        240,675  

Multiplan Corp.*(a)

     633,097        671,083  

NextGen Healthcare, Inc.*

     21,116        367,630  

OptimizeRx Corp.*

     5,598        81,899  

Simulations Plus, Inc.

     4,790        210,473  

Veradigm, Inc.*

     57,262        747,269  
     

 

 

 
Total Health Care Technology

 

     3,642,339  
Hotel & Resort REITs – 0.3%

 

DiamondRock Hospitality Co.

     54,335        441,744  

Hersha Hospitality Trust, Class A

     53,722        361,012  

Sunstone Hotel Investors, Inc.

     119,390        1,179,573  
     

 

 

 
Total Hotel & Resort REITs

 

     1,982,329  
Hotels, Restaurants & Leisure – 2.5%

 

Accel Entertainment, Inc.*

     66,071        601,907  

Bloomin’ Brands, Inc.

     75,202        1,928,931  

Bluegreen Vacations Holding Corp.(a)

     22,168        606,960  

Bowlero Corp.*

     20,613        349,390  

Brinker International, Inc.*

     20,668        785,384  

Century Casinos, Inc.*

     29,343        215,084  

Cheesecake Factory, Inc.(a)

     9,817        344,086  

Chuy’s Holdings, Inc.*

     8,825        316,376  

Cracker Barrel Old Country Store, Inc.

     7,660        870,176  

Dave & Buster’s Entertainment, Inc.*

     23,220        854,264  

Denny’s Corp.*

     26,401        294,635  

Dine Brands Global, Inc.

     6,310        426,808  

Dutch Bros, Inc., Class A*(a)

     9,774        309,152  

El Pollo Loco Holdings, Inc.(a)

     10,662        102,249  

Everi Holdings, Inc.*

     77,789        1,334,081  

First Watch Restaurant Group, Inc.*

     14,608        234,604  

Golden Entertainment, Inc.*

     15,345        667,661  

Jack in the Box, Inc.

     11,945        1,046,263  

Monarch Casino & Resort, Inc.

     6,995        518,679  

ONE Group Hospitality, Inc.*

     30,320      245,592  

RCI Hospitality Holdings, Inc.

     4,256        332,691  

Ruth’s Hospitality Group, Inc.

     19,499        320,174  

Sabre Corp.*(a)

     68,286        292,947  

Six Flags Entertainment Corp.*

     30,953        826,755  

Target Hospitality Corp.*(a)

     20,929        275,007  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     14,099,856  
Household Durables – 6.1%

 

Bassett Furniture Industries, Inc.

     17,368        309,150  

Beazer Homes USA, Inc.*

     57,834        918,404  

Cavco Industries, Inc.*

     6,972        2,215,283  

Century Communities, Inc.

     56,056        3,583,099  

Cricut, Inc., Class A(a)

     23,990        244,698  

Dream Finders Homes, Inc., Class A*(a)

     63,631        843,111  

Ethan Allen Interiors, Inc.

     27,215        747,324  

GoPro, Inc., Class A*

     170,288        856,549  

Green Brick Partners, Inc.*

     77,572        2,719,674  

Hooker Furnishings Corp.

     2,092        38,053  

Hovnanian Enterprises, Inc., Class A*

     10,231        694,071  

Installed Building Products, Inc.

     17,614        2,008,524  

La-Z-Boy, Inc.

     45,596        1,325,932  

Landsea Homes Corp.*

     81,611        494,563  

Legacy Housing Corp.*

     21,005        478,074  

LGI Homes, Inc.*

     25,757        2,937,071  

Lovesac Co.*(a)

     15,614        451,245  

M/I Homes, Inc.*

     50,675        3,197,086  

MDC Holdings, Inc.

     132,497        5,150,158  

Sonos, Inc.*

     27,790        545,240  

Tri Pointe Homes, Inc.*

     183,415        4,644,068  

Tupperware Brands Corp.*(a)

     43,986        109,965  

Universal Electronics, Inc.*

     2,236        22,673  
     

 

 

 
Total Household Durables

 

     34,534,015  
Household Products – 0.6%

 

Central Garden & Pet Co., Class A*

     24,960        975,187  

Energizer Holdings, Inc.

     37,715        1,308,710  

Spectrum Brands Holdings, Inc.

     8,290        548,964  

WD-40 Co.

     3,137        558,543  
     

 

 

 
Total Household Products

 

     3,391,404  
Independent Power & Renewable Electricity Producers – 0.0%

 

Montauk Renewables, Inc.*(a)

     31,198        245,528  
Industrial REITs – 0.0%

 

Indus Realty Trust, Inc.

     2,511        166,454  
Insurance – 2.1%

 

Ambac Financial Group, Inc.*

     80,439        1,245,196  

AMERISAFE, Inc.

     5,260        257,477  

BRP Group, Inc., Class A*

     13,295        338,491  

Donegal Group, Inc., Class A

     12,457        190,343  

Employers Holdings, Inc.

     11,491        479,060  

Genworth Financial, Inc., Class A*

     818,775        4,110,251  

Goosehead Insurance, Inc., Class A*

     5,476        285,847  

Hagerty, Inc., Class A*(a)

     18,206        159,120  

Horace Mann Educators Corp.

     12,636        423,053  

 

See Notes to Financial Statements.

 

WisdomTree Trust      91  


Schedule of Investments (continued)

WisdomTree U.S. SmallCap Fund (EES)

March 31, 2023

 

 

 

Investments    Shares      Value  

Investors Title Co.

     922      $ 139,222  

National Western Life Group, Inc., Class A

     3,536        857,904  

Palomar Holdings, Inc.*

     7,192        396,998  

ProAssurance Corp.

     21,256        392,811  

Safety Insurance Group, Inc.

     6,457        481,176  

Stewart Information Services Corp.

     37,176        1,500,052  

Trean Insurance Group, Inc.*

     62,025        379,593  

United Fire Group, Inc.

     15,133        401,781  
     

 

 

 
Total Insurance

 

     12,038,375  
Interactive Media & Services – 0.9%

 

Cargurus, Inc.*

     84,773        1,583,560  

Cars.com, Inc.*

     65,317        1,260,618  

DHI Group, Inc.*

     9,356        36,301  

QuinStreet, Inc.*

     7,855        124,659  

Shutterstock, Inc.

     17,968        1,304,477  

System1, Inc.*(a)

     22,674        97,498  

Yelp, Inc.*

     11,975        367,632  

ZipRecruiter, Inc., Class A*

     27,882        444,439  
     

 

 

 
Total Interactive Media & Services

 

     5,219,184  
IT Services – 0.5%

 

Brightcove, Inc.*

     3,310        14,729  

Grid Dynamics Holdings, Inc.*

     22,304        255,604  

Hackett Group, Inc.

     17,139        316,729  

Information Services Group, Inc.

     33,641        171,233  

Perficient, Inc.*

     13,862        1,000,698  

Rackspace Technology, Inc.*

     258,148        485,318  

Squarespace, Inc., Class A*

     18,879        599,786  

Unisys Corp.*

     5,583        21,662  
     

 

 

 
Total IT Services

 

     2,865,759  
Leisure Products – 1.4%

 

American Outdoor Brands, Inc.*

     2,373        23,350  

AMMO, Inc.*(a)

     114,602        225,766  

JAKKS Pacific, Inc.*

     16,901        292,387  

Johnson Outdoors, Inc., Class A

     5,340        336,473  

Malibu Boats, Inc., Class A*

     20,664        1,166,483  

MasterCraft Boat Holdings, Inc.*

     27,037        822,736  

Smith & Wesson Brands, Inc.

     59,953        738,022  

Solo Brands, Inc., Class A*

     123,053        883,521  

Sturm Ruger & Co., Inc.

     12,385        711,394  

Vista Outdoor, Inc.*(a)

     104,956        2,908,331  
     

 

 

 
Total Leisure Products

 

     8,108,463  
Life Sciences Tools & Services – 1.1%

 

Cytek Biosciences, Inc.*

     29,703        272,971  

Maravai LifeSciences Holdings, Inc., Class A*

     185,591        2,600,130  

Sotera Health Co.*

     193,641        3,468,110  
     

 

 

 
Total Life Sciences Tools & Services

 

     6,341,211  
Machinery – 2.6%

 

Alamo Group, Inc.

     4,214        776,050  

Astec Industries, Inc.

     1,884        77,715  

Barnes Group, Inc.

     12,555        505,715  

CIRCOR International, Inc.*

     8,501        264,551  

Columbus McKinnon Corp.

     19,766        734,505  

Commercial Vehicle Group, Inc.*

     20,861      152,285  

Douglas Dynamics, Inc.

     7,500        239,175  

Energy Recovery, Inc.*

     13,149        303,084  

Enerpac Tool Group Corp.

     14,385        366,818  

EnPro Industries, Inc.

     8,207        852,625  

ESCO Technologies, Inc.

     5,700        544,065  

Gorman-Rupp Co.

     4,525        113,125  

Greenbrier Cos., Inc.

     10,276        330,579  

Helios Technologies, Inc.

     18,763        1,227,100  

Hillman Solutions Corp.*

     71,277        600,152  

Kadant, Inc.

     3,328        693,955  

Kennametal, Inc.

     41,190        1,136,020  

Lindsay Corp.

     3,138        474,246  

Manitowoc Co., Inc.*

     34,060        582,085  

Miller Industries, Inc.

     5,953        210,439  

Mueller Water Products, Inc., Class A

     43,955        612,733  

Omega Flex, Inc.

     2,504        279,046  

Proto Labs, Inc.*

     13,444        445,669  

REV Group, Inc.

     18,224        218,506  

Shyft Group, Inc.

     11,974        272,409  

Standex International Corp.

     5,884        720,437  

Tennant Co.

     5,661        387,948  

Titan International, Inc.*

     62,844        658,605  

Trinity Industries, Inc.

     16,397        399,431  

Wabash National Corp.

     18,663        458,923  
     

 

 

 
Total Machinery

 

     14,637,996  
Marine Transportation – 0.7%

 

Matson, Inc.

     70,327        4,196,412  
Media – 2.2%

 

Advantage Solutions, Inc.*(a)

     592,211        935,693  

Altice USA, Inc., Class A*

     566,774        1,938,367  

AMC Networks, Inc., Class A*

     60,437        1,062,482  

Cumulus Media, Inc., Class A*

     34,880        128,707  

Daily Journal Corp.*

     293        83,493  

Entravision Communications Corp., Class A

     49,102        297,067  

EW Scripps Co., Class A*

     49,199        462,963  

Gannett Co., Inc.*

     247,641        463,089  

Gray Television, Inc.

     144,083        1,256,404  

John Wiley & Sons, Inc., Class A

     31,206        1,209,857  

Magnite, Inc.*

     52,058        482,057  

PubMatic, Inc., Class A*

     22,676        313,382  

Scholastic Corp.

     11,566        395,789  

Sinclair Broadcast Group, Inc., Class A

     95,008        1,630,337  

TechTarget, Inc.*

     13,334        481,624  

Thryv Holdings, Inc.*

     39,282        905,843  

WideOpenWest, Inc.*

     24,104        256,226  
     

 

 

 
Total Media

 

     12,303,380  
Metals & Mining – 2.3%

 

Arconic Corp.*

     22,097        579,604  

Century Aluminum Co.*

     60,292        602,920  

Compass Minerals International, Inc.

     8,819        302,404  

Haynes International, Inc.

     5,437        272,339  

Kaiser Aluminum Corp.

     3,704        276,430  

 

See Notes to Financial Statements.

 

92   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. SmallCap Fund (EES)

March 31, 2023

 

 

 

Investments    Shares      Value  

Materion Corp.

     7,795      $ 904,220  

Olympic Steel, Inc.

     18,467        964,162  

Ramaco Resources, Inc.

     70,427        620,462  

Ryerson Holding Corp.

     65,013        2,365,173  

Schnitzer Steel Industries, Inc., Class A

     35,685        1,109,803  

SunCoke Energy, Inc.

     82,282        738,892  

TimkenSteel Corp.*

     56,688        1,039,658  

Tredegar Corp.

     30,407        277,616  

Warrior Met Coal, Inc.

     90,755        3,331,616  
     

 

 

 
Total Metals & Mining

 

     13,385,299  
Multi-Utilities – 0.1%

 

Unitil Corp.

     6,187        352,907  
Office REITs – 0.4%

 

Brandywine Realty Trust

     202,453        957,603  

Easterly Government Properties, Inc.

     25,707        353,214  

JBG SMITH Properties

     29,659        446,664  

Office Properties Income Trust

     25,811        317,475  

Paramount Group, Inc.

     62,496        284,982  

Piedmont Office Realty Trust, Inc., Class A

     3,162        23,083  

Postal Realty Trust, Inc., Class A(a)

     729        11,095  
     

 

 

 
Total Office REITs

 

     2,394,116  
Oil, Gas & Consumable Fuels – 3.9%

 

Alto Ingredients, Inc.*(a)

     67,469        101,203  

Amplify Energy Corp.*(a)

     47,968        329,540  

Berry Corp.

     122,838        964,278  

Clean Energy Fuels Corp.*

     51,152        223,023  

Crescent Energy Co., Class A

     43,680        494,021  

Delek U.S. Holdings, Inc.

     72,009        1,652,607  

Earthstone Energy, Inc., Class A*

     152,198        1,980,096  

Excelerate Energy, Inc., Class A

     10,031        222,086  

Gulfport Energy Corp.*

     36,952        2,956,160  

NACCO Industries, Inc., Class A

     7,640        275,575  

Overseas Shipholding Group, Inc., Class A*

     35,931        140,131  

Par Pacific Holdings, Inc.*

     98,043        2,862,856  

PHX Minerals, Inc.

     26,723        70,014  

Ranger Oil Corp., Class A

     36,600        1,494,744  

REX American Resources Corp.*

     12,425        355,231  

SandRidge Energy, Inc.*

     56,425        813,084  

SilverBow Resources, Inc.*(a)

     41,040        937,764  

Sitio Royalties Corp., Class A

     44,866        1,013,972  

Talos Energy, Inc.*

     86,935        1,290,115  

VAALCO Energy, Inc.

     126,464        572,882  

Vital Energy, Inc.*(a)

     34,676        1,579,145  

W&T Offshore, Inc.*

     282,223        1,433,693  

World Fuel Services Corp.

     28,669        732,493  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     22,494,713  
Paper & Forest Products – 0.4%

 

Clearwater Paper Corp.*

     14,725        492,110  

Sylvamo Corp.

     40,932        1,893,514  
     

 

 

 
Total Paper & Forest Products

 

     2,385,624  
Passenger Airlines – 0.3%

 

Allegiant Travel Co.*

     5,393        496,048  

SkyWest, Inc.*

     49,914      1,106,593  

Sun Country Airlines Holdings, Inc.*

     13,823        283,372  
     

 

 

 
Total Passenger Airlines

 

     1,886,013  
Personal Care Products – 0.5%

 

Edgewell Personal Care Co.

     23,376        991,610  

Medifast, Inc.

     8,845        916,961  

Nature’s Sunshine Products, Inc.*

     1,698        17,337  

Nu Skin Enterprises, Inc., Class A

     9,569        376,157  

USANA Health Sciences, Inc.*

     5,408        340,163  
     

 

 

 
Total Personal Care Products

 

     2,642,228  
Pharmaceuticals – 1.1%

 

Amneal Pharmaceuticals, Inc.*

     130,459        181,338  

Amphastar Pharmaceuticals, Inc.*

     18,780        704,250  

ANI Pharmaceuticals, Inc.*

     3,479        138,186  

Assertio Holdings, Inc.*(a)

     78,809        502,013  

Atea Pharmaceuticals, Inc.*

     58,811        197,017  

Collegium Pharmaceutical, Inc.*

     31,332        751,655  

Innoviva, Inc.*

     118,805        1,336,556  

Ligand Pharmaceuticals, Inc.*

     3,113        228,992  

Pacira BioSciences, Inc.*

     15,403        628,596  

Phibro Animal Health Corp., Class A

     35,086        537,518  

ProPhase Labs, Inc.(a)

     20,405        155,486  

SIGA Technologies, Inc.(a)

     85,581        492,091  

Supernus Pharmaceuticals, Inc.*

     15,794        572,217  
     

 

 

 
Total Pharmaceuticals

 

     6,425,915  
Professional Services – 2.4%

 

Atlas Technical Consultants, Inc.*(a)

     17,098        208,425  

Barrett Business Services, Inc.

     4,491        398,082  

CBIZ, Inc.*

     17,883        885,030  

Conduent, Inc.*

     101,631        348,594  

CRA International, Inc.

     3,536        381,252  

CSG Systems International, Inc.

     12,438        667,921  

DLH Holdings Corp.*

     12,763        146,392  

First Advantage Corp.*

     80,131        1,118,629  

Forrester Research, Inc.*

     12,705        411,007  

Franklin Covey Co.*

     2,994        115,179  

Heidrick & Struggles International, Inc.

     21,518        653,286  

HireRight Holdings Corp.*(a)

     107,571        1,141,328  

Huron Consulting Group, Inc.*

     6,514        523,530  

ICF International, Inc.

     7,161        785,562  

Kelly Services, Inc., Class A

     20,879        346,383  

Kforce, Inc.

     8,834        558,662  

Legalzoom.com, Inc.*

     42,088        394,785  

NV5 Global, Inc.*

     4,037        419,727  

RCM Technologies, Inc.*

     9,049        104,606  

Red Violet, Inc.*

     3,195        56,232  

Resources Connection, Inc.

     26,272        448,200  

Sterling Check Corp.*(a)

     49,147        547,989  

TrueBlue, Inc.*

     30,293        539,215  

TTEC Holdings, Inc.

     25,982        967,310  

Verra Mobility Corp.*(a)

     66,383        1,123,200  

Willdan Group, Inc.*

     8,588        134,145  
     

 

 

 
Total Professional Services

 

     13,424,671  

 

See Notes to Financial Statements.

 

WisdomTree Trust      93  


Schedule of Investments (continued)

WisdomTree U.S. SmallCap Fund (EES)

March 31, 2023

 

 

 

Investments    Shares      Value  
Real Estate Management & Development – 1.4%

 

Anywhere Real Estate, Inc.*

     191,475      $ 1,010,988  

Douglas Elliman, Inc.

     66,479        206,749  

eXp World Holdings, Inc.(a)

     35,575        451,447  

Forestar Group, Inc.*

     79,259        1,233,270  

FRP Holdings, Inc.*

     2,459        142,327  

Kennedy-Wilson Holdings, Inc.

     39,498        655,272  

Marcus & Millichap, Inc.

     29,318        941,401  

Newmark Group, Inc., Class A

     277,860        1,967,249  

RE/MAX Holdings, Inc., Class A

     20,769        389,626  

RMR Group, Inc., Class A

     6,741        176,884  

St. Joe Co.

     8,116        337,707  

Stratus Properties, Inc.(a)

     15,452        309,040  

Tejon Ranch Co.*

     12,049        220,135  
     

 

 

 
Total Real Estate Management & Development

 

     8,042,095  
Residential REITs – 0.3%

 

Apartment Investment & Management Co., Class A

     99,749        767,070  

NexPoint Residential Trust, Inc.

     18,950        827,546  
     

 

 

 
Total Residential REITs

 

     1,594,616  
Retail REITs – 0.7%

 

Acadia Realty Trust

     24,932        347,801  

Alexander’s, Inc.

     2,636        510,725  

Getty Realty Corp.

     17,547        632,218  

NETSTREIT Corp.

     9,879        180,588  

Retail Opportunity Investments Corp.

     25,399        354,570  

RPT Realty

     33,489        318,480  

Saul Centers, Inc.

     7,725        301,275  

Tanger Factory Outlet Centers, Inc.

     25,250        495,658  

Urban Edge Properties

     24,375        367,088  

Urstadt Biddle Properties, Inc., Class A

     11,061        194,342  

Whitestone REIT

     18,179        167,247  
     

 

 

 
Total Retail REITs

 

     3,869,992  
Semiconductors & Semiconductor Equipment – 1.4%

 

Aehr Test Systems*

     5,033        156,124  

AXT, Inc.*

     10,134        40,333  

Ceva, Inc.*

     8,710        265,045  

Cohu, Inc.*

     25,613        983,283  

Everspin Technologies, Inc.*

     18,793        127,981  

FormFactor, Inc.*

     35,265        1,123,190  

NVE Corp.

     2,527        209,716  

PDF Solutions, Inc.*

     6,713        284,631  

Photronics, Inc.*

     35,193        583,500  

Semtech Corp.*

     46,558        1,123,910  

SiTime Corp.*(a)

     6,379        907,285  

Ultra Clean Holdings, Inc.*

     36,524        1,211,136  

Veeco Instruments, Inc.*

     34,645        732,049  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     7,748,183  
Software – 3.3%

 

8x8, Inc.*

     58,170        242,569  

A10 Networks, Inc.

     24,089        373,139  

ACI Worldwide, Inc.*

     53,015        1,430,345  

Adeia, Inc.

     72,967        646,488  

Agilysys, Inc.*

     4,465      368,407  

Alarm.com Holdings, Inc.*

     14,083        708,093  

Altair Engineering, Inc., Class A*

     11,306        815,276  

American Software, Inc., Class A

     4,753        59,935  

Appfolio, Inc., Class A*

     3,289        409,415  

Cerence, Inc.*

     20,512        576,182  

Cleanspark, Inc.*

     84,275        234,284  

Clearwater Analytics Holdings, Inc., Class A*(a)

     16,012        255,551  

Consensus Cloud Solutions, Inc.*

     13,083        445,999  

CoreCard Corp.*(a)

     4,784        144,142  

Digital Turbine, Inc.*(a)

     62,629        774,094  

E2open Parent Holdings, Inc.*(a)

     67,419        392,379  

Ebix, Inc.

     32,985        435,072  

eGain Corp.*

     4,033        30,610  

Enfusion, Inc., Class A*

     15,368        161,364  

Everbridge, Inc.*

     9,327        323,367  

EverCommerce, Inc.*(a)

     112,521        1,190,472  

Expensify, Inc., Class A*(a)

     31,886        259,871  

InterDigital, Inc.

     12,506        911,687  

LiveRamp Holdings, Inc.*

     15,102        331,187  

MeridianLink, Inc.*

     20,922        361,951  

Mitek Systems, Inc.*

     29,985        287,556  

Model N, Inc.*

     9,214        308,393  

N-able, Inc.*

     36,356        479,899  

Olo, Inc., Class A*

     28,511        232,650  

Progress Software Corp.

     22,694        1,303,770  

Q2 Holdings, Inc.*

     14,658        360,880  

Rapid7, Inc.*

     12,622        579,476  

Rimini Street, Inc.*

     158,773        654,145  

ShotSpotter, Inc.*

     2,686        105,614  

SolarWinds Corp.*

     69,261        595,645  

Telos Corp.*

     37,887        95,854  

Upland Software, Inc.*

     64,985        279,435  

Varonis Systems, Inc.*

     23,307        606,215  

Verint Systems, Inc.*

     25,949        966,341  

Vertex, Inc., Class A*

     14,759        305,364  
     

 

 

 
Total Software

 

     19,043,116  
Specialized REITs – 0.1%

 

Farmland Partners, Inc.

     6,109        65,366  

Four Corners Property Trust, Inc.

     19,845        533,037  
     

 

 

 
Total Specialized REITs

 

     598,403  
Specialty Retail – 5.5%

 

1-800-Flowers.com, Inc., Class A*

     6,968        80,132  

Aaron’s Co., Inc.

     25,284        244,243  

Abercrombie & Fitch Co., Class A*

     10,860        301,365  

America’s Car-Mart, Inc.*

     4,620        365,950  

Arhaus, Inc.*(a)

     74,645        618,807  

Arko Corp.

     49,887        423,541  

Big 5 Sporting Goods Corp.

     26,985        207,515  

Boot Barn Holdings, Inc.*

     18,432        1,412,628  

Buckle, Inc.

     37,512        1,338,803  

Build-A-Bear Workshop, Inc.

     13,375        310,835  

Caleres, Inc.

     50,418        1,090,541  

 

See Notes to Financial Statements.

 

94   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. SmallCap Fund (EES)

March 31, 2023

 

 

 

Investments    Shares      Value  

Camping World Holdings, Inc., Class A

     57,834      $ 1,206,996  

CarParts.com, Inc.*

     21,740        116,092  

Chico’s FAS, Inc.*

     137,732        757,526  

Children’s Place, Inc.*

     15,957        642,269  

Citi Trends, Inc.*

     5,138        97,725  

Conn’s, Inc.*

     10,395        62,994  

Container Store Group, Inc.*

     107,781        369,689  

Designer Brands, Inc., Class A

     100,052        874,454  

Destination XL Group, Inc.*

     60,738        334,666  

Duluth Holdings, Inc., Class B*

     38,403        245,011  

Franchise Group, Inc.

     41,464        1,129,894  

Genesco, Inc.*

     15,670        577,910  

Guess?, Inc.

     46,708        908,938  

Haverty Furniture Cos., Inc.

     20,669        659,548  

Hibbett, Inc.

     12,747        751,818  

J Jill, Inc.*

     11,678        304,095  

JOANN, Inc.(a)

     28,030        44,568  

Lands’ End, Inc.*

     5,758        55,968  

Lazydays Holdings, Inc.*

     9,598        112,009  

LL Flooring Holdings, Inc.*

     7,500        28,500  

Lulu’s Fashion Lounge Holdings, Inc.*(a)

     33,301        79,256  

MarineMax, Inc.*

     41,675        1,198,156  

Monro, Inc.

     8,810        435,478  

ODP Corp.*

     30,488        1,371,350  

OneWater Marine, Inc., Class A*(a)

     26,979        754,603  

Overstock.com, Inc.*

     13,385        271,314  

Petco Health & Wellness Co., Inc.*

     136,334        1,227,006  

PetMed Express, Inc.(a)

     10,482        170,228  

Revolve Group, Inc.*(a)

     20,144        529,787  

RumbleON, Inc., Class B*(a)

     32,051        194,229  

Sally Beauty Holdings, Inc.*

     145,105        2,260,736  

Shoe Carnival, Inc.

     20,665        530,057  

Sleep Number Corp.*

     10,358        314,987  

Sonic Automotive, Inc., Class A

     46,325        2,517,300  

Sportsman’s Warehouse Holdings, Inc.*

     48,465        410,983  

Tile Shop Holdings, Inc.*(a)

     37,250        174,703  

Tilly’s, Inc., Class A*

     22,274        171,733  

Torrid Holdings, Inc.*(a)

     139,962        610,234  

Upbound Group, Inc.

     66,395        1,627,341  

Winmark Corp.

     1,450        464,624  

Zumiez, Inc.*

     8,561        157,865  
     

 

 

 
Total Specialty Retail

 

     31,147,000  
Technology Hardware, Storage & Peripherals – 0.3%

 

Avid Technology, Inc.*

     13,818        441,900  

Corsair Gaming, Inc.*

     17,953        329,438  

Eastman Kodak Co.*

     16,375        67,137  

Immersion Corp.

     30,419        271,946  

Xerox Holdings Corp.

     41,405        637,637  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     1,748,058  
Textiles, Apparel & Luxury Goods – 2.4%

 

Fossil Group, Inc.*

     12,142        38,854  

G-III Apparel Group Ltd.*

     121,979        1,896,773  

Hanesbrands, Inc.(a)

     503,389        2,647,826  

Kontoor Brands, Inc.

     39,183        1,896,065  

Lakeland Industries, Inc.

     1,947        28,426  

Levi Strauss & Co., Class A(a)

     183,863      3,351,823  

Movado Group, Inc.

     23,654        680,526  

Oxford Industries, Inc.

     9,694        1,023,590  

Rocky Brands, Inc.

     6,731        155,284  

Superior Group of Cos., Inc.

     1,600        12,592  

Vera Bradley, Inc.*

     3,576        21,420  

Wolverine World Wide, Inc.

     101,716        1,734,258  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     13,487,437  
Tobacco – 0.3%

 

Turning Point Brands, Inc.

     17,330        363,930  

Universal Corp.

     11,158        590,147  

Vector Group Ltd.

     79,649        956,584  
     

 

 

 
Total Tobacco

 

     1,910,661  
Trading Companies & Distributors – 2.1%

 

Alta Equipment Group, Inc.

     10,745        170,308  

BlueLinx Holdings, Inc.*

     17,210        1,169,592  

Custom Truck One Source, Inc.*(a)

     50,099        340,172  

Distribution Solutions Group, Inc.*

     5,136        233,483  

DXP Enterprises, Inc.*

     11,715        315,368  

Global Industrial Co.

     23,694        635,947  

GMS, Inc.*

     48,168        2,788,445  

H&E Equipment Services, Inc.

     20,669        914,190  

Hudson Technologies, Inc.*

     59,906        522,979  

McGrath RentCorp

     9,336        871,142  

MRC Global, Inc.*

     48,773        474,074  

NOW, Inc.*

     42,550        474,432  

Titan Machinery, Inc.*

     14,445        439,850  

Transcat, Inc.*

     2,848        254,583  

Veritiv Corp.

     18,086        2,444,142  
     

 

 

 
Total Trading Companies & Distributors

 

     12,048,707  
Water Utilities – 0.2%

 

Artesian Resources Corp., Class A

     5,824        322,417  

Middlesex Water Co.

     3,731        291,466  

Pure Cycle Corp.*

     11,765        111,179  

SJW Group

     6,714        511,137  

York Water Co.

     4,178        186,756  
     

 

 

 
Total Water Utilities

 

     1,422,955  
Wireless Telecommunication Services – 0.4%

 

Gogo, Inc.*

     115,730        1,678,085  

Telephone & Data Systems, Inc.

     23,188        243,706  

United States Cellular Corp.*

     24,308        503,905  
     

 

 

 
Total Wireless Telecommunication Services

 

     2,425,696  
Total United States

 

     568,417,943  
Philippines – 0.1%

 

Professional Services – 0.1%

 

TaskUS, Inc., Class A*(a)

     45,131        651,692  
TOTAL COMMON STOCKS
(Cost: $598,977,251)

 

     569,069,635  

 

See Notes to Financial Statements.

 

WisdomTree Trust      95  


Schedule of Investments (concluded)

WisdomTree U.S. SmallCap Fund (EES)

March 31, 2023

 

 

 

Investments    Shares      Value  
WARRANTS – 0.0%

 

United States – 0.0%

 

OmniAb, Inc.

     

exercise price $12.50, expiring 11/1/27*

     2,562      $ 0  

exercise price $15.00, expiring 11/1/27*

     2,562        0  
TOTAL WARRANTS
(Cost: $0)
              0  
EXCHANGE-TRADED FUND – 0.2%

 

United States – 0.2%

 

WisdomTree U.S. MidCap Fund(b)

     
(Cost: $1,357,852)      25,203        1,253,597  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.8%

 

United States – 1.8%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(c)

     
(Cost: $10,076,833)      10,076,833        10,076,833  
TOTAL INVESTMENTS IN SECURITIES – 101.7%
(Cost: $610,411,936)

 

     580,400,065  

Other Assets less Liabilities – (1.7)%

        (9,634,840
     

 

 

 
NET ASSETS – 100.0%

 

   $ 570,765,225  
* 

Non-income producing security.

 

 

This security is being fair valued using significant unobservable inputs (i.e., Level 3 on the fair value hierarchy) by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust. The aggregate value of Level 3 fair valued securities is $0, which represents 0.0% of net assets.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $29,749,603. The Fund also had securities on loan having a total market value of $70,878 that were sold and pending settlement. The total market value of the collateral held by the Fund was $30,269,168. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $20,192,335.

 

(b) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

    

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate    Value at
3/31/2022
     Purchases/
Additions
     Sales/
Reductions
     Realized
Gain/(Loss)
     Change in
Unrealized
Appreciation/
Depreciation
     Value at
3/31/2023
     Dividend
Income
 

WisdomTree U.S. MidCap Fund

   $      $ 6,260,207      $ 4,605,522      $ (296,833    $ (104,255    $ 1,253,597      $ 22,538  

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

  

Investments in Securities

     

Common Stocks

   $ 569,069,635      $      $      $ 569,069,635  

Warrants

                   0 *       0  

Exchange-Traded Fund

     1,253,597                      1,253,597  

Investment of Cash Collateral for Securities Loaned

            10,076,833               10,076,833  

Total Investments in Securities

   $ 570,323,232      $ 10,076,833      $ 0      $ 580,400,065  
* 

Fair valuations using significant unobservable inputs were determined by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust.

 

See Notes to Financial Statements.

 

96   WisdomTree Trust


Schedule of Investments

WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.8%

 

United States – 99.6%

 

Aerospace & Defense – 0.8%

 

Kaman Corp.

     30,497      $ 697,162  

Moog, Inc., Class A

     9,451        952,188  

National Presto Industries, Inc.

     3,038        219,009  
     

 

 

 
Total Aerospace & Defense

 

     1,868,359  
Automobile Components – 2.9%

 

Dana, Inc.

     92,828        1,397,062  

LCI Industries

     28,144        3,092,181  

Patrick Industries, Inc.

     19,367        1,332,643  

Standard Motor Products, Inc.

     17,146        632,859  
     

 

 

 
Total Automobile Components

 

     6,454,745  
Automobiles – 0.4%

 

Winnebago Industries, Inc.

     15,676        904,505  
Banks – 7.1%

 

Amalgamated Financial Corp.

     13,367        236,462  

Arrow Financial Corp.

     10,905        271,644  

Bank7 Corp.

     5,768        141,604  

Blue Ridge Bankshares, Inc.

     14,746        150,409  

Cambridge Bancorp

     6,418        415,951  

Capital City Bank Group, Inc.

     10,213        299,343  

CF Bankshares, Inc.

     2,289        44,636  

Citizens Financial Services, Inc.(a)

     1,626        135,852  

Civista Bancshares, Inc.

     11,161        188,398  

Eagle Bancorp Montana, Inc.

     4,845        68,363  

Esquire Financial Holdings, Inc.

     2,601        101,699  

Farmers National Banc Corp.

     42,955        542,951  

FB Financial Corp.

     16,401        509,743  

First Bancorp, Inc.

     7,252        187,754  

First Commonwealth Financial Corp.

     85,787        1,066,332  

First Savings Financial Group, Inc.

     4,338        69,798  

FS Bancorp, Inc.

     5,589        167,726  

German American Bancorp, Inc.

     19,614        654,519  

Greene County Bancorp, Inc.

     4,774        108,274  

Hilltop Holdings, Inc.

     37,433        1,110,637  

Hingham Institution for Savings(a)

     600        140,064  

Home Bancorp, Inc.

     5,642        186,355  

Independent Bank Corp.

     21,689        385,414  

Lakeland Bancorp, Inc.

     56,630        885,693  

Live Oak Bancshares, Inc.

     10,149        247,331  

Macatawa Bank Corp.

     26,312        268,909  

MainStreet Bancshares, Inc.

     3,681        86,467  

Mercantile Bank Corp.

     17,021        520,502  

Meridian Corp.

     8,878        111,863  

Mid Penn Bancorp, Inc.

     11,232        287,652  

MVB Financial Corp.

     10,838        223,696  

National Bank Holdings Corp., Class A

     24,292        812,810  

Northeast Bank

     1,772        59,646  

Northrim Bancorp, Inc.

     5,936        280,061  

Orange County Bancorp, Inc.

     3,014        132,616  

Origin Bancorp, Inc.

     13,182        423,801  

Parke Bancorp, Inc.

     11,512        204,683  

Pathward Financial, Inc.

     6,798      282,049  

Peoples Financial Services Corp.

     5,190        224,987  

Plumas Bancorp

     3,443        117,269  

Provident Bancorp, Inc.

     16,074        109,946  

Seacoast Banking Corp. of Florida

     37,557        890,101  

Stock Yards Bancorp, Inc.

     13,098        722,224  

Summit State Bank

     3,555        49,308  

Union Bankshares, Inc.

     3,419        75,594  

Unity Bancorp, Inc.

     5,462        124,588  

Veritex Holdings, Inc.

     39,319        717,965  

Westamerica BanCorp

     20,564        910,985  
     

 

 

 
Total Banks

 

     15,954,674  
Beverages – 0.2%

 

MGP Ingredients, Inc.

     5,428        524,996  
Broadline Retail – 0.2%

 

Big Lots, Inc.(a)

     46,905        514,079  
Building Products – 1.2%

 

Armstrong World Industries, Inc.

     17,264        1,229,887  

CSW Industrials, Inc.

     3,643        506,122  

Griffon Corp.

     18,339        587,031  

Insteel Industries, Inc.

     4,412        122,742  

Quanex Building Products Corp.

     13,379        288,050  
     

 

 

 
Total Building Products

 

     2,733,832  
Capital Markets – 10.5%

 

Artisan Partners Asset Management, Inc., Class A

     98,319        3,144,242  

BGC Partners, Inc., Class A

     84,674        442,845  

Cohen & Steers, Inc.

     42,760        2,734,930  

Diamond Hill Investment Group, Inc.

     2,876        473,332  

Federated Hermes, Inc.

     67,937        2,726,991  

Hamilton Lane, Inc., Class A

     23,353        1,727,655  

Moelis & Co., Class A

     94,375        3,627,775  

Oppenheimer Holdings, Inc., Class A

     4,837        189,368  

P10, Inc., Class A

     14,478        146,372  

Piper Sandler Cos.

     8,372        1,160,443  

PJT Partners, Inc., Class A

     8,537        616,286  

Silvercrest Asset Management Group, Inc., Class A

     12,336        224,268  

StepStone Group, Inc., Class A

     46,699        1,133,385  

Value Line, Inc.

     3,031        146,488  

Victory Capital Holdings, Inc., Class A

     63,170        1,848,986  

Virtu Financial, Inc., Class A

     114,504        2,164,126  

Virtus Investment Partners, Inc.

     6,792        1,293,129  
     

 

 

 
Total Capital Markets

 

     23,800,621  
Chemicals – 7.7%

 

AdvanSix, Inc.

     11,239        430,117  

American Vanguard Corp.

     6,925        151,519  

Chase Corp.

     2,974        311,467  

FutureFuel Corp.

     35,270        260,293  

Hawkins, Inc.

     8,238        360,660  

Innospec, Inc.

     8,112        832,859  

Koppers Holdings, Inc.

     4,900        171,353  

Kronos Worldwide, Inc.

     163,097        1,502,123  

Mativ Holdings, Inc.

     79,019        1,696,538  

 

See Notes to Financial Statements.

 

WisdomTree Trust      97  


Schedule of Investments (continued)

WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Minerals Technologies, Inc.

     7,186      $ 434,178  

NewMarket Corp.

     7,030        2,565,809  

Quaker Chemical Corp.

     4,676        925,614  

Scotts Miracle-Gro Co.(a)

     71,644        4,996,453  

Sensient Technologies Corp.

     25,067        1,919,129  

Stepan Co.

     8,028        827,125  
     

 

 

 
Total Chemicals

 

     17,385,237  
Commercial Services & Supplies – 4.0%

 

ABM Industries, Inc.

     30,748        1,381,815  

ACCO Brands Corp.

     135,504        720,881  

Brady Corp., Class A

     24,529        1,317,943  

Brink’s Co.

     17,561        1,173,075  

Deluxe Corp.

     63,713        1,019,408  

Ennis, Inc.

     31,246        658,978  

Interface, Inc.

     12,864        104,456  

Kimball International, Inc., Class B

     53,737        666,339  

Steelcase, Inc., Class A

     141,129        1,188,306  

UniFirst Corp.

     3,538        623,502  

VSE Corp.

     3,224        144,758  
     

 

 

 
Total Commercial Services & Supplies

 

     8,999,461  
Construction & Engineering – 0.7%

 

Argan, Inc.

     11,044        446,951  

Granite Construction, Inc.

     17,594        722,761  

Primoris Services Corp.

     17,194        424,004  
     

 

 

 
Total Construction & Engineering

 

     1,593,716  
Construction Materials – 0.1%

 

United States Lime & Minerals, Inc.

     1,265        193,153  
Consumer Finance – 0.5%

 

Bread Financial Holdings, Inc.

     29,493        894,228  

Regional Management Corp.

     11,136        290,538  
     

 

 

 
Total Consumer Finance

 

     1,184,766  
Consumer Staples Distribution & Retail – 1.1%

 

Ingles Markets, Inc., Class A

     3,407        302,201  

Natural Grocers by Vitamin Cottage, Inc.

     27,268        320,399  

PriceSmart, Inc.

     10,753        768,624  

Weis Markets, Inc.

     11,856        1,003,848  
     

 

 

 
Total Consumer Staples Distribution & Retail

 

     2,395,072  
Containers & Packaging – 0.2%

 

Myers Industries, Inc.

     23,865        511,427  
Diversified Consumer Services – 1.2%

 

Carriage Services, Inc.

     8,174        249,471  

Graham Holdings Co., Class B

     1,089        648,870  

Strategic Education, Inc.

     19,975        1,794,354  
     

 

 

 
Total Diversified Consumer Services

 

     2,692,695  
Diversified REITs – 0.3%

 

NexPoint Diversified Real Estate Trust(a)

     55,796        579,163  
Electric Utilities – 0.8%

 

MGE Energy, Inc.

     22,705        1,763,498  

Via Renewables, Inc.

     5,856        107,633  
     

 

 

 
Total Electric Utilities

 

     1,871,131  
Electrical Equipment – 1.0%

 

Allied Motion Technologies, Inc.

     3,484      134,657  

Encore Wire Corp.

     4,478        829,908  

EnerSys

     10,326        897,123  

LSI Industries, Inc.

     14,768        205,718  

Preformed Line Products Co.

     1,659        212,418  
     

 

 

 
Total Electrical Equipment

 

     2,279,824  
Electronic Equipment, Instruments & Components – 1.8%

 

Advanced Energy Industries, Inc.

     8,869        869,162  

Badger Meter, Inc.

     6,907        841,411  

Benchmark Electronics, Inc.

     22,593        535,228  

Climb Global Solutions, Inc.

     3,214        171,274  

Methode Electronics, Inc.

     11,660        511,641  

Richardson Electronics Ltd.

     3,968        88,566  

Vontier Corp.

     37,519        1,025,769  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     4,043,051  
Energy Equipment & Services – 0.6%

 

Cactus, Inc., Class A

     14,598        601,875  

RPC, Inc.

     56,511        434,570  

Solaris Oilfield Infrastructure, Inc., Class A

     39,043        333,427  
     

 

 

 
Total Energy Equipment & Services

 

     1,369,872  
Entertainment – 0.4%

 

World Wrestling Entertainment, Inc., Class A

     10,146        925,924  
Financial Services – 2.0%

 

A-Mark Precious Metals, Inc.

     15,324        530,977  

Merchants Bancorp

     13,929        362,711  

PennyMac Financial Services, Inc.

     19,181        1,143,379  

Walker & Dunlop, Inc.

     25,118        1,913,238  

Waterstone Financial, Inc.

     29,973        453,492  
     

 

 

 
Total Financial Services

 

     4,403,797  
Food Products – 0.2%

 

Alico, Inc.

     11,467        277,501  

John B. Sanfilippo & Son, Inc.

     2,488        241,137  
     

 

 

 
Total Food Products

 

     518,638  
Gas Utilities – 0.5%

 

Chesapeake Utilities Corp.

     8,890        1,137,831  
Ground Transportation – 0.9%

 

ArcBest Corp.

     5,898        545,093  

Heartland Express, Inc.

     18,595        296,032  

Universal Logistics Holdings, Inc.

     8,933        260,397  

Werner Enterprises, Inc.

     20,773        944,964  
     

 

 

 
Total Ground Transportation

 

     2,046,486  
Health Care Equipment & Supplies – 0.4%

 

Atrion Corp.

     697        437,653  

LeMaitre Vascular, Inc.

     7,051        362,915  

Utah Medical Products, Inc.

     1,388        131,541  
     

 

 

 
Total Health Care Equipment & Supplies

 

     932,109  
Health Care Providers & Services – 2.4%

 

National Research Corp.

     8,726        379,668  

Patterson Cos., Inc.

     93,921        2,514,265  

 

See Notes to Financial Statements.

 

98   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Select Medical Holdings Corp.

     70,787      $ 1,829,844  

U.S. Physical Therapy, Inc.

     6,645        650,612  
     

 

 

 
Total Health Care Providers & Services

 

     5,374,389  
Health Care REITs – 0.4%

 

Universal Health Realty Income Trust

     19,720        948,729  
Health Care Technology – 0.1%

 

Simulations Plus, Inc.

     4,738        208,188  
Hotels, Restaurants & Leisure – 4.3%

 

Bloomin’ Brands, Inc.

     64,696        1,659,452  

Bluegreen Vacations Holding Corp.(a)

     12,809        350,710  

Canterbury Park Holding Corp.

     2,268        55,532  

Cheesecake Factory, Inc.(a)

     47,097        1,650,750  

Cracker Barrel Old Country Store, Inc.

     32,213        3,659,397  

RCI Hospitality Holdings, Inc.

     2,199        171,896  

Red Rock Resorts, Inc., Class A

     36,514        1,627,429  

Ruth’s Hospitality Group, Inc.

     30,906        507,477  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     9,682,643  
Household Durables – 1.5%

 

Century Communities, Inc.

     14,267        911,947  

Hamilton Beach Brands Holding Co., Class A

     7,493        76,728  

Installed Building Products, Inc.

     11,477        1,308,722  

La-Z-Boy, Inc.

     35,357        1,028,182  

Lifetime Brands, Inc.

     12,565        73,882  
     

 

 

 
Total Household Durables

 

     3,399,461  
Household Products – 1.6%

 

Energizer Holdings, Inc.

     66,357        2,302,588  

WD-40 Co.

     6,711        1,194,893  
     

 

 

 
Total Household Products

 

     3,497,481  
Insurance – 2.2%

 

American Equity Investment Life Holding Co.

     21,049        768,078  

AMERISAFE, Inc.

     12,650        619,218  

Crawford & Co., Class A

     17,253        144,235  

Employers Holdings, Inc.

     17,777        741,123  

Horace Mann Educators Corp.

     38,255        1,280,778  

Investors Title Co.

     801        120,951  

Stewart Information Services Corp.

     31,221        1,259,767  
     

 

 

 
Total Insurance

 

     4,934,150  
Interactive Media & Services – 0.6%

 

Shutterstock, Inc.

     17,549        1,274,057  
IT Services – 0.2%

 

Hackett Group, Inc.

     17,080        315,638  

Information Services Group, Inc.

     43,508        221,456  
     

 

 

 
Total IT Services

 

     537,094  
Leisure Products – 1.5%

 

Acushnet Holdings Corp.

     29,724        1,514,141  

Escalade, Inc.

     12,872        187,931  

Johnson Outdoors, Inc., Class A

     5,653        356,196  

Marine Products Corp.

     10,925        144,101  

Smith & Wesson Brands, Inc.

     42,823        527,151  

Sturm Ruger & Co., Inc.

     12,910        741,550  
     

 

 

 
Total Leisure Products

 

     3,471,070  
Life Sciences Tools & Services – 0.3%

 

Bio-Techne Corp.

     9,320      691,451  
Machinery – 6.8%

 

Alamo Group, Inc.

     2,785        512,886  

Albany International Corp., Class A

     7,114        635,707  

Astec Industries, Inc.

     7,765        320,306  

Barnes Group, Inc.

     21,547        867,913  

Douglas Dynamics, Inc.

     19,165        611,172  

ESCO Technologies, Inc.

     5,979        570,696  

Federal Signal Corp.

     14,453        783,497  

Hillenbrand, Inc.

     31,591        1,501,520  

John Bean Technologies Corp.

     7,388        807,434  

Kadant, Inc.

     2,722        567,591  

Kennametal, Inc.

     67,586        1,864,022  

Lindsay Corp.

     2,681        405,180  

Mueller Water Products, Inc., Class A

     89,956        1,253,987  

Omega Flex, Inc.

     3,667        408,650  

REV Group, Inc.

     24,930        298,911  

Shyft Group, Inc.

     8,609        195,855  

Standex International Corp.

     3,746        458,660  

Tennant Co.

     8,627        591,208  

Terex Corp.

     21,625        1,046,217  

Trinity Industries, Inc.

     66,624        1,622,961  
     

 

 

 
Total Machinery

 

     15,324,373  
Marine Transportation – 0.5%

 

Matson, Inc.

     20,738        1,237,436  
Media – 1.0%

 

Entravision Communications Corp., Class A

     35,022        211,883  

Gray Television, Inc.

     65,489        571,064  

John Wiley & Sons, Inc., Class A

     37,861        1,467,871  
     

 

 

 
Total Media

 

     2,250,818  
Metals & Mining – 2.4%

 

Alpha Metallurgical Resources, Inc.

     4,684        730,704  

Materion Corp.

     4,697        544,852  

Ryerson Holding Corp.

     21,975        799,450  

Schnitzer Steel Industries, Inc., Class A

     16,786        522,045  

Tredegar Corp.

     47,894        437,272  

Warrior Met Coal, Inc.

     11,828        434,206  

Worthington Industries, Inc.

     30,186        1,951,525  
     

 

 

 
Total Metals & Mining

 

     5,420,054  
Office REITs – 1.1%

 

SL Green Realty Corp.

     102,189        2,403,485  
Oil, Gas & Consumable Fuels – 4.1%

 

Arch Resources, Inc.

     27,581        3,625,798  

CONSOL Energy, Inc.

     54,494        3,175,365  

Evolution Petroleum Corp.

     51,281        323,583  

NACCO Industries, Inc., Class A

     3,389        122,241  

PHX Minerals, Inc.

     28,804        75,467  

Ranger Oil Corp., Class A

     4,789        195,583  

Sitio Royalties Corp., Class A

     18,812        425,151  

VAALCO Energy, Inc.

     79,586        360,525  

World Fuel Services Corp.

     35,805        914,818  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     9,218,531  

 

See Notes to Financial Statements.

 

WisdomTree Trust      99  


Schedule of Investments (continued)

WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS)

March 31, 2023

 

 

 

Investments    Shares      Value  
Personal Care Products – 3.1%

 

Edgewell Personal Care Co.

     20,377      $ 864,392  

Inter Parfums, Inc.

     17,504        2,489,769  

Medifast, Inc.

     16,008        1,659,549  

Nu Skin Enterprises, Inc., Class A

     49,515        1,946,435  
     

 

 

 
Total Personal Care Products

 

     6,960,145  
Pharmaceuticals – 0.2%

 

Phibro Animal Health Corp., Class A

     23,539        360,618  
Professional Services – 2.5%

 

Barrett Business Services, Inc.

     2,551        226,121  

BGSF, Inc.

     8,526        90,802  

CRA International, Inc.

     2,527        272,461  

CSG Systems International, Inc.

     15,609        838,203  

Heidrick & Struggles International, Inc.

     11,726        356,001  

HireQuest, Inc.

     4,020        86,711  

ICF International, Inc.

     4,255        466,774  

Kelly Services, Inc., Class A

     17,385        288,417  

Kforce, Inc.

     12,308        778,358  

Korn Ferry

     15,938        824,632  

Resources Connection, Inc.

     27,324        466,148  

TTEC Holdings, Inc.

     28,071        1,045,083  
     

 

 

 
Total Professional Services

 

     5,739,711  
Real Estate Management & Development – 0.7%

 

eXp World Holdings, Inc.(a)

     60,833        771,971  

Marcus & Millichap, Inc.

     15,533        498,764  

Newmark Group, Inc., Class A

     59,173        418,945  
     

 

 

 
Total Real Estate Management & Development

 

     1,689,680  
Retail REITs – 0.5%

 

Alexander’s, Inc.

     5,471        1,060,006  
Software – 1.4%

 

A10 Networks, Inc.

     26,072        403,855  

Ebix, Inc.

     14,988        197,692  

InterDigital, Inc.

     22,920        1,670,868  

Progress Software Corp.

     15,906        913,800  
     

 

 

 
Total Software

 

     3,186,215  
Specialty Retail – 4.3%

 

Big 5 Sporting Goods Corp.

     33,715        259,268  

Buckle, Inc.

     42,632        1,521,536  

Caleres, Inc.

     13,261        286,836  

Camping World Holdings, Inc., Class A

     65,698        1,371,117  

Group 1 Automotive, Inc.

     3,545        802,659  

Guess?, Inc.

     64,022        1,245,868  

Haverty Furniture Cos., Inc.

     15,577        497,062  

Hibbett, Inc.

     5,784        341,140  

Monro, Inc.

     20,522        1,014,403  

Shoe Carnival, Inc.

     11,491        294,744  

Upbound Group, Inc.

     83,766        2,053,105  
     

 

 

 
Total Specialty Retail

 

     9,687,738  
Technology Hardware, Storage & Peripherals – 0.1%

 

Immersion Corp.

     16,902        151,104  
Textiles, Apparel & Luxury Goods – 5.6%

 

Carter’s, Inc.(a)

     42,665      3,068,467  

Kontoor Brands, Inc.

     65,813        3,184,691  

Levi Strauss & Co., Class A(a)

     77,260        1,408,450  

Movado Group, Inc.

     19,491        560,756  

Oxford Industries, Inc.

     8,770        926,024  

Rocky Brands, Inc.

     5,273        121,648  

Steven Madden Ltd.

     51,371        1,849,356  

Superior Group of Cos., Inc.

     23,262        183,072  

Wolverine World Wide, Inc.

     82,075        1,399,379  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     12,701,843  
Tobacco – 0.1%

 

Turning Point Brands, Inc.

     6,309        132,489  
Trading Companies & Distributors – 1.6%

 

Boise Cascade Co.

     9,661        611,058  

Global Industrial Co.

     22,472        603,148  

H&E Equipment Services, Inc.

     26,178        1,157,853  

McGrath RentCorp

     12,483        1,164,789  
     

 

 

 
Total Trading Companies & Distributors

 

     3,536,848  
Water Utilities – 0.7%

 

California Water Service Group

     23,374        1,360,367  

Global Water Resources, Inc.

     14,177        176,220  
     

 

 

 
Total Water Utilities

 

     1,536,587  
Wireless Telecommunication Services – 0.1%

 

Shenandoah Telecommunications Co.

     12,175        231,569  
Total United States

 

     224,667,127  
Puerto Rico – 0.2%

 

Financial Services – 0.2%

 

EVERTEC, Inc.

     15,855        535,106  
TOTAL COMMON STOCKS
(Cost: $231,008,318)

 

     225,202,233  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.4%

 

United States – 1.4%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(b)

     
(Cost: $3,059,023)      3,059,023        3,059,023  
TOTAL INVESTMENTS IN SECURITIES – 101.2%
(Cost: $234,067,341)

 

     228,261,256  

Other Assets less Liabilities – (1.2)%

        (2,636,688
     

 

 

 
NET ASSETS – 100.0%

 

   $ 225,624,568  
(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $11,984,338 and the total market value of the collateral held by the Fund was $12,262,873. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $9,203,850.

 

(b) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

See Notes to Financial Statements.

 

100   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree U.S. SmallCap Quality Dividend Growth Fund (DGRS)

March 31, 2023

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

  

Investments in Securities

     

Common Stocks

   $ 225,202,233      $      $      $ 225,202,233  

Investment of Cash Collateral for Securities Loaned

            3,059,023               3,059,023  

Total Investments in Securities

   $ 225,202,233      $ 3,059,023      $      $ 228,261,256  

 

See Notes to Financial Statements.

 

WisdomTree Trust      101  


Schedule of Investments

WisdomTree U.S. Total Dividend Fund (DTD)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.8%

 

United States – 99.7%

 

Aerospace & Defense – 1.7%

 

BWX Technologies, Inc.

     4,447      $ 280,339  

General Dynamics Corp.

     8,975        2,048,185  

HEICO Corp., Class A

     2,230        303,057  

Howmet Aerospace, Inc.

     5,000        211,850  

Huntington Ingalls Industries, Inc.

     1,600        331,232  

L3Harris Technologies, Inc.

     5,764        1,131,127  

Lockheed Martin Corp.

     14,633        6,917,458  

Northrop Grumman Corp.

     3,218        1,485,815  

Raytheon Technologies Corp.

     49,795        4,876,424  

Textron, Inc.

     2,917        206,028  

Woodward, Inc.

     1,744        169,813  
     

 

 

 
Total Aerospace & Defense

 

     17,961,328  
Air Freight & Logistics – 1.4%

 

C.H. Robinson Worldwide, Inc.

     7,378        733,152  

Expeditors International of Washington, Inc.

     4,870        536,284  

FedEx Corp.

     10,616        2,425,650  

United Parcel Service, Inc., Class B

     56,067        10,876,437  
     

 

 

 
Total Air Freight & Logistics

 

     14,571,523  
Automobile Components – 0.1%

 

BorgWarner, Inc.

     7,158        351,529  

Dana, Inc.

     5,417        81,526  

Gentex Corp.

     8,048        225,585  

LCI Industries

     2,355        258,744  

Lear Corp.

     2,578        359,605  

Patrick Industries, Inc.

     3,266        224,734  
     

 

 

 
Total Automobile Components

 

     1,501,723  
Automobiles – 0.4%

 

Ford Motor Co.

     271,840        3,425,184  

General Motors Co.

     21,840        801,091  

Harley-Davidson, Inc.

     4,384        166,461  

Thor Industries, Inc.

     3,099        246,804  

Winnebago Industries, Inc.

     3,310        190,987  
     

 

 

 
Total Automobiles

 

     4,830,527  
Banks – 7.0%

 

Associated Banc-Corp.

     10,613        190,822  

Atlantic Union Bankshares Corp.

     4,059        142,268  

Banc of California, Inc.

     55        689  

BancFirst Corp.

     1,239        102,961  

Bank of America Corp.

     308,121        8,812,261  

Bank of Hawaii Corp.(a)

     1,242        64,683  

Bank OZK

     8,886        303,901  

BankUnited, Inc.

     5,943        134,193  

Banner Corp.

     3,080        167,460  

BOK Financial Corp.

     3,200        270,112  

Brookline Bancorp, Inc.

     24,856        260,988  

Cadence Bank

     8,778        182,231  

Capitol Federal Financial, Inc.

     27,128        182,571  

Cathay General Bancorp

     2,021        69,765  

Citigroup, Inc.

     131,584        6,169,974  

Citizens Community Bancorp, Inc.

     16,782      $ 178,057  

Citizens Financial Group, Inc.

     31,682        962,182  

City Holding Co.

     3,005        273,094  

Columbia Banking System, Inc.

     19,131        409,786  

Comerica, Inc.

     7,135        309,802  

Commerce Bancshares, Inc.

     4,184        244,136  

Community Trust Bancorp, Inc.

     6,838        259,502  

Cullen/Frost Bankers, Inc.

     3,806        400,924  

CVB Financial Corp.

     5,971        99,596  

Eagle Bancorp, Inc.

     7,203        241,084  

East West Bancorp, Inc.

     7,783        431,957  

Eastern Bankshares, Inc.

     5,530        69,789  

Enterprise Financial Services Corp.

     6,143        273,916  

Equity Bancshares, Inc., Class A

     8,932        217,673  

Fifth Third Bancorp

     42,810        1,140,458  

First Bancorp

     4,890        173,693  

First Busey Corp.

     12,484        253,925  

First Citizens BancShares, Inc., Class A

     225        218,948  

First Commonwealth Financial Corp.

     14,245        177,065  

First Financial Bancorp

     9,650        210,081  

First Financial Bankshares, Inc.

     7,043        224,672  

First Hawaiian, Inc.

     7,936        163,720  

First Interstate BancSystem, Inc., Class A

     7,770        232,012  

First Merchants Corp.

     3,409        112,327  

First National Corp.

     10,991        173,768  

First Republic Bank(a)^

     2,956        41,354  

Five Star Bancorp

     6,091        129,982  

FNB Corp.

     36,127        419,073  

Fulton Financial Corp.

     7,773        107,423  

German American Bancorp, Inc.

     10,401        347,081  

Glacier Bancorp, Inc.

     3,581        150,438  

Hancock Whitney Corp.

     3,890        141,596  

Hanmi Financial Corp.

     14,217        264,010  

Heartland Financial USA, Inc.

     5,523        211,862  

Hilltop Holdings, Inc.

     6,677        198,107  

Home BancShares, Inc.

     6,941        150,689  

HomeTrust Bancshares, Inc.

     9,172        225,539  

Hope Bancorp, Inc.

     23,689        232,626  

Huntington Bancshares, Inc.

     86,599        969,909  

Independent Bank Corp.

     1,126        73,888  

Independent Bank Group, Inc.

     1,929        89,409  

International Bancshares Corp.

     1,860        79,645  

JPMorgan Chase & Co.

     135,932        17,713,299  

KeyCorp

     65,981        826,082  

Lakeland Bancorp, Inc.

     20,298        317,461  

Lakeland Financial Corp.

     2,488        155,848  

M&T Bank Corp.

     7,877        941,853  

NBT Bancorp, Inc.

     5,229        176,270  

New York Community Bancorp, Inc.(a)

     44,212        399,676  

Northwest Bancshares, Inc.

     19,218        231,193  

OceanFirst Financial Corp.

     13,970        258,166  

Old National Bancorp

     12,599        181,678  

Pacific Premier Bancorp, Inc.

     8,172        196,291  

PacWest Bancorp

     12,116        117,889  

 

See Notes to Financial Statements.

 

102   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. Total Dividend Fund (DTD)

March 31, 2023

 

 

 

Investments    Shares      Value  

Park National Corp.

     1,049      $ 124,380  

Partners Bancorp

     30,007        234,955  

Peoples Bancorp, Inc.

     9,871        254,178  

Pinnacle Financial Partners, Inc.

     1,688        93,110  

PNC Financial Services Group, Inc.

     24,171        3,072,134  

Premier Financial Corp.

     10,907        226,102  

Prosperity Bancshares, Inc.

     3,599        221,410  

Provident Financial Services, Inc.

     12,470        239,175  

QCR Holdings, Inc.

     3,912        171,776  

Regions Financial Corp.

     53,180        987,021  

S&T Bancorp, Inc.

     13,813        434,419  

Sandy Spring Bancorp, Inc.

     9,193        238,834  

Seacoast Banking Corp. of Florida

     6,453        152,936  

ServisFirst Bancshares, Inc.

     1,635        89,320  

Simmons First National Corp., Class A

     8,201        143,435  

Southern States Bancshares, Inc.

     5,016        113,111  

Southside Bancshares, Inc.

     6,755        224,266  

SouthState Corp.

     3,578        254,968  

Summit State Bank

     10,113        140,267  

Synovus Financial Corp.

     8,200        252,806  

Tompkins Financial Corp.

     4,770        315,822  

Towne Bank

     5,328        141,991  

TriCo Bancshares

     4,172        173,513  

Truist Financial Corp.

     96,845        3,302,414  

U.S. Bancorp

     149,045        5,373,072  

UMB Financial Corp.

     1,769        102,107  

United Bankshares, Inc.

     5,430        191,136  

United Community Banks, Inc.

     3,545        99,685  

Valley National Bancorp

     29,258        270,344  

Veritex Holdings, Inc.

     9,390        171,461  

Washington Federal, Inc.

     6,150        185,238  

Washington Trust Bancorp, Inc.

     6,260        216,972  

Webster Financial Corp.

     8,768        345,635  

Wells Fargo & Co.

     156,764        5,859,838  

WesBanco, Inc.

     4,483        137,628  

Westamerica BanCorp

     4,642        205,641  

Western Alliance Bancorp

     3,775        134,164  

Wintrust Financial Corp.

     1,562        113,948  

Zions Bancorp NA

     5,915        177,036  
     

 

 

 
Total Banks

 

     75,041,631  
Beverages – 3.3%

 

Brown-Forman Corp., Class A

     2,506        163,366  

Brown-Forman Corp., Class B

     6,513        418,591  

Coca-Cola Co.

     273,196        16,946,348  

Constellation Brands, Inc., Class A

     3,647        823,821  

Keurig Dr. Pepper, Inc.

     68,501        2,416,715  

Molson Coors Beverage Co., Class B

     9,112        470,908  

PepsiCo, Inc.

     79,307        14,457,666  
     

 

 

 
Total Beverages

 

     35,697,415  
Biotechnology – 3.6%

 

AbbVie, Inc.

     146,087        23,281,885  

Amgen, Inc.

     33,279        8,045,198  

Gilead Sciences, Inc.

     96,076        7,971,426  
     

 

 

 
Total Biotechnology

 

     39,298,509  
Broadline Retail – 0.1%

 

Big Lots, Inc.(a)

     15      $ 164  

eBay, Inc.

     17,105        758,949  

Kohl’s Corp.

     13,257        312,070  

Macy’s, Inc.

     14,237        249,005  

Nordstrom, Inc.

     11,689        190,180  
     

 

 

 
Total Broadline Retail

 

     1,510,368  
Building Products – 0.4%

 

A.O. Smith Corp.

     4,631        320,234  

Advanced Drainage Systems, Inc.(a)

     1,501        126,399  

Armstrong World Industries, Inc.

     2,244        159,862  

AZZ, Inc.

     8,404        346,581  

Carlisle Cos., Inc.

     1,556        351,765  

Carrier Global Corp.

     18,612        851,499  

Fortune Brands Innovations, Inc.

     5,938        348,739  

Lennox International, Inc.

     1,065        267,613  

Masco Corp.

     7,208        358,382  

Owens Corning

     3,114        298,321  

Simpson Manufacturing Co., Inc.

     1,948        213,579  

UFP Industries, Inc.

     2,325        184,768  

Zurn Elkay Water Solutions Corp.

     5,414        115,643  
     

 

 

 
Total Building Products

 

     3,943,385  
Capital Markets – 3.8%

 

Ameriprise Financial, Inc.

     3,444        1,055,586  

Ares Management Corp., Class A

     9,181        766,063  

Artisan Partners Asset Management, Inc., Class A

     8,867        283,567  

Bank of New York Mellon Corp.

     41,403        1,881,352  

BlackRock, Inc.

     6,272        4,196,721  

Blue Owl Capital, Inc.

     33,690        373,285  

Carlyle Group, Inc.

     25,181        782,122  

Cboe Global Markets, Inc.

     3,867        519,106  

Charles Schwab Corp.

     30,268        1,585,438  

CME Group, Inc.

     12,319        2,359,335  

Cohen & Steers, Inc.

     3,644        233,070  

Evercore, Inc., Class A

     2,294        264,682  

FactSet Research Systems, Inc.

     645        267,733  

Federated Hermes, Inc.

     7,213        289,530  

Franklin Resources, Inc.

     33,685        907,474  

Goldman Sachs Group, Inc.

     13,537        4,428,088  

Hamilton Lane, Inc., Class A

     2,105        155,728  

Houlihan Lokey, Inc.

     2,960        258,970  

Interactive Brokers Group, Inc., Class A

     1,454        120,042  

Intercontinental Exchange, Inc.

     12,312        1,284,018  

Jefferies Financial Group, Inc.

     12,598        399,861  

LPL Financial Holdings, Inc.

     1,116        225,878  

MarketAxess Holdings, Inc.

     619        242,208  

Moelis & Co., Class A

     6,109        234,830  

Moody’s Corp.

     2,752        842,167  

Morgan Stanley

     87,705        7,700,499  

Morningstar, Inc.

     2        406  

MSCI, Inc.

     1,266        708,568  

Nasdaq, Inc.

     14,368        785,499  

Northern Trust Corp.

     11,003        969,694  

 

See Notes to Financial Statements.

 

WisdomTree Trust      103  


Schedule of Investments (continued)

WisdomTree U.S. Total Dividend Fund (DTD)

March 31, 2023

 

 

 

Investments    Shares      Value  

Raymond James Financial, Inc.

     5,226      $ 487,429  

S&P Global, Inc.

     4,904        1,690,752  

Sculptor Capital Management, Inc.

     13        112  

SEI Investments Co.

     3,044        175,182  

State Street Corp.

     19,007        1,438,640  

StepStone Group, Inc., Class A

     12        291  

Stifel Financial Corp.

     3,993        235,946  

T. Rowe Price Group, Inc.

     13,679        1,544,359  

TPG, Inc.

     4,822        141,429  

Tradeweb Markets, Inc., Class A

     2,353        185,934  

Victory Capital Holdings, Inc., Class A

     8,265        241,917  

Virtu Financial, Inc., Class A

     7,593        143,508  

Virtus Investment Partners, Inc.

     1,067        203,146  
     

 

 

 
Total Capital Markets

 

     40,610,165  
Chemicals – 1.5%

 

Air Products & Chemicals, Inc.

     7,107        2,041,201  

Albemarle Corp.

     1,611        356,095  

Ashland, Inc.

     1,940        199,257  

Avient Corp.

     6,234        256,591  

Cabot Corp.

     3,468        265,788  

Celanese Corp.

     4,829        525,830  

CF Industries Holdings, Inc.

     7,118        515,984  

Chemours Co.

     8,555        256,137  

Corteva, Inc.

     12,587        759,122  

Dow, Inc.

     57,791        3,168,103  

DuPont de Nemours, Inc.

     14,387        1,032,555  

Eastman Chemical Co.

     7,288        614,670  

Ecolab, Inc.

     6,377        1,055,585  

Element Solutions, Inc.

     10,786        208,278  

FMC Corp.

     3,604        440,156  

Huntsman Corp.

     14,676        401,535  

Kronos Worldwide, Inc.

     18,755        172,734  

Mativ Holdings, Inc.

     7,682        164,933  

Mosaic Co.

     7,221        331,299  

NewMarket Corp.

     452        164,971  

Olin Corp.

     5,226        290,043  

PPG Industries, Inc.

     6,765        903,669  

RPM International, Inc.

     4,288        374,085  

Scotts Miracle-Gro Co.(a)

     4,961        345,980  

Sensient Technologies Corp.

     2,556        195,687  

Sherwin-Williams Co.

     3,808        855,924  

Valvoline, Inc.

     7,449        260,268  

Westlake Corp.

     2,767        320,917  
     

 

 

 
Total Chemicals

 

     16,477,397  
Commercial Services & Supplies – 0.6%

 

ABM Industries, Inc.

     3,331        149,695  

Brady Corp., Class A

     4,720        253,606  

Brink’s Co.

     8        534  

Cintas Corp.

     2,351        1,087,761  

Deluxe Corp.

     2,937        46,992  

HNI Corp.

     10,660        296,774  

MillerKnoll, Inc.

     12,129        248,038  

MSA Safety, Inc.

     1,296        173,016  

Pitney Bowes, Inc.

     17,355      67,511  

Republic Services, Inc.

     8,047        1,088,115  

Rollins, Inc.

     15,990        600,105  

Tetra Tech, Inc.

     1,183        173,795  

Waste Management, Inc.

     14,241        2,323,704  
     

 

 

 
Total Commercial Services & Supplies

 

     6,509,646  
Communications Equipment – 1.6%

 

Cisco Systems, Inc.

     290,413        15,181,340  

Juniper Networks, Inc.

     17,308        595,741  

Motorola Solutions, Inc.

     4,180        1,196,023  

Ubiquiti, Inc.(a)

     976        265,170  
     

 

 

 
Total Communications Equipment

 

     17,238,274  
Construction & Engineering – 0.1%

 

AECOM

     3,440        290,061  

MDU Resources Group, Inc.

     12,461        379,811  

Quanta Services, Inc.

     1,849        308,117  
     

 

 

 
Total Construction & Engineering

 

     977,989  
Construction Materials – 0.1%

 

Eagle Materials, Inc.

     1,225        179,769  

Martin Marietta Materials, Inc.

     1,018        361,451  

Vulcan Materials Co.

     2,344        402,136  
     

 

 

 
Total Construction Materials

 

     943,356  
Consumer Finance – 0.7%

 

Ally Financial, Inc.

     23,940        610,231  

American Express Co.

     15,212        2,509,219  

Bread Financial Holdings, Inc.

     3,978        120,613  

Capital One Financial Corp.

     15,217        1,463,267  

Discover Financial Services

     9,823        970,905  

FirstCash Holdings, Inc.

     4,375        417,244  

Navient Corp.

     10,407        166,408  

OneMain Holdings, Inc.

     12,902        478,406  

SLM Corp.

     12,503        154,912  

Synchrony Financial

     19,354        562,814  
     

 

 

 
Total Consumer Finance

 

     7,454,019  
Consumer Staples Distribution & Retail – 2.1%

 

Albertsons Cos., Inc., Class A

     20,202        419,798  

Casey’s General Stores, Inc.

     747        161,696  

Costco Wholesale Corp.

     7,437        3,695,222  

Dollar General Corp.

     3,222        678,102  

Kroger Co.

     24,939        1,231,238  

SpartanNash Co.

     8,944        221,811  

Sysco Corp.

     27,065        2,090,230  

Target Corp.

     19,841        3,286,265  

Walgreens Boots Alliance, Inc.

     62,071        2,146,415  

Walmart, Inc.

     61,856        9,120,667  
     

 

 

 
Total Consumer Staples Distribution & Retail

 

     23,051,444  
Containers & Packaging – 0.4%

 

AptarGroup, Inc.

     2,051        242,408  

Avery Dennison Corp.

     1,960        350,703  

Berry Global Group, Inc.

     3,311        195,018  

Graphic Packaging Holding Co.

     12,790        326,017  

 

See Notes to Financial Statements.

 

104   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. Total Dividend Fund (DTD)

March 31, 2023

 

 

 

Investments    Shares      Value  

Greif, Inc., Class A

     4,859      $ 307,915  

International Paper Co.

     27,517        992,263  

Packaging Corp. of America

     7,674        1,065,381  

Pactiv Evergreen, Inc.

     13,233        105,864  

Sealed Air Corp.

     3,741        171,749  

Silgan Holdings, Inc.

     1,638        87,911  

Sonoco Products Co.

     7,724        471,164  

Westrock Co.

     13,133        400,163  
     

 

 

 
Total Containers & Packaging

 

     4,716,556  
Distributors – 0.2%

 

Genuine Parts Co.

     6,341        1,060,913  

LKQ Corp.

     9,616        545,804  

Pool Corp.

     1,025        351,001  
     

 

 

 
Total Distributors

 

     1,957,718  
Diversified Consumer Services – 0.1%

 

ADT, Inc.

     25,146        181,806  

H&R Block, Inc.

     11,069        390,182  

Service Corp. International

     4,911        337,779  

Strategic Education, Inc.

     2,123        190,709  
     

 

 

 
Total Diversified Consumer Services

 

     1,100,476  
Diversified REITs – 0.1%

 

Broadstone Net Lease, Inc.

     55        936  

Essential Properties Realty Trust, Inc.

     8,970        222,905  

W.P. Carey, Inc.

     13,621        1,054,946  
     

 

 

 
Total Diversified REITs

 

     1,278,787  
Diversified Telecommunication Services – 1.2%

 

AT&T, Inc.

     645,938        12,434,306  

Cogent Communications Holdings, Inc.

     6,386        406,916  
     

 

 

 
Total Diversified Telecommunication Services

 

     12,841,222  
Electric Utilities – 3.8%

 

ALLETE, Inc.

     4,045        260,377  

Alliant Energy Corp.

     13,146        701,996  

American Electric Power Co., Inc.

     40,998        3,730,408  

Avangrid, Inc.

     24,143        962,823  

Constellation Energy Corp.

     4,336        340,376  

Duke Energy Corp.

     45,894        4,427,394  

Edison International

     25,401        1,793,056  

Entergy Corp.

     11,497        1,238,687  

Evergy, Inc.

     15,098        922,790  

Eversource Energy

     23,822        1,864,310  

Exelon Corp.

     50,776        2,127,007  

FirstEnergy Corp.

     48,338        1,936,420  

Hawaiian Electric Industries, Inc.

     5,929        227,673  

IDACORP, Inc.

     3,403        368,647  

MGE Energy, Inc.

     3,276        254,447  

NextEra Energy, Inc.

     93,296        7,191,256  

NRG Energy, Inc.

     12,093        414,669  

OGE Energy Corp.

     22,692        854,581  

Otter Tail Corp.(a)

     3,579        258,654  

Pinnacle West Capital Corp.

     7,509        595,013  

PNM Resources, Inc.

     4,754        231,425  

Portland General Electric Co.

     8,442        412,729  

PPL Corp.

     36,761      1,021,588  

Southern Co.

     100,148        6,968,298  

Xcel Energy, Inc.

     34,284        2,312,113  
     

 

 

 
Total Electric Utilities

 

     41,416,737  
Electrical Equipment – 0.4%

 

AMETEK, Inc.

     3,343        485,838  

Emerson Electric Co.

     20,963        1,826,716  

Hubbell, Inc.

     2,783        677,132  

Regal Rexnord Corp.

     1,612        226,857  

Rockwell Automation, Inc.

     3,430        1,006,533  
     

 

 

 
Total Electrical Equipment

 

     4,223,076  
Electronic Equipment, Instruments & Components – 0.5%

 

Amphenol Corp., Class A

     14,474        1,182,815  

Avnet, Inc.

     6,488        293,258  

CDW Corp.

     2,889        563,037  

Climb Global Solutions, Inc.

     5        267  

Cognex Corp.

     3,448        170,848  

Corning, Inc.

     42,374        1,494,955  

Jabil, Inc.

     2,930        258,309  

Littelfuse, Inc.

     846        226,804  

National Instruments Corp.

     7,285        381,807  

Richardson Electronics Ltd.

     2,325        51,894  

TD SYNNEX Corp.

     2,922        282,820  

Vishay Intertechnology, Inc.

     8,576        193,989  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     5,100,803  
Energy Equipment & Services – 0.3%

 

Archrock, Inc.

     25,636        250,464  

Baker Hughes Co.

     41,863        1,208,166  

ChampionX Corp.

     5,875        159,389  

Halliburton Co.

     23,757        751,671  

Helmerich & Payne, Inc.

     4,724        168,883  

NOV, Inc.

     14,901        275,818  

Patterson-UTI Energy, Inc.

     10,115        118,345  
     

 

 

 
Total Energy Equipment & Services

 

     2,932,736  
Entertainment – 0.1%

 

Activision Blizzard, Inc.

     9,420        806,258  

Electronic Arts, Inc.

     3,947        475,416  

Warner Music Group Corp., Class A

     5,035        168,018  
     

 

 

 
Total Entertainment

 

     1,449,692  
Financial Services – 1.6%

 

Apollo Global Management, Inc.

     21,733        1,372,656  

Enact Holdings, Inc.

     10,884        248,808  

Equitable Holdings, Inc.

     15,823        401,746  

Fidelity National Information Services, Inc.

     23,882        1,297,509  

Global Payments, Inc.

     4,590        483,051  

Jack Henry & Associates, Inc.

     2,201        331,735  

Jackson Financial, Inc., Class A

     8,243        308,371  

MasterCard, Inc., Class A

     12,021        4,368,552  

MGIC Investment Corp.

     21,816        292,771  

PennyMac Financial Services, Inc.

     1,939        115,584  

Radian Group, Inc.

     15,608        344,937  

TFS Financial Corp.

     21,637        273,275  

 

See Notes to Financial Statements.

 

WisdomTree Trust      105  


Schedule of Investments (continued)

WisdomTree U.S. Total Dividend Fund (DTD)

March 31, 2023

 

 

 

Investments    Shares      Value  

UWM Holdings Corp.

     60      $ 295  

Visa, Inc., Class A

     31,319        7,061,182  

Voya Financial, Inc.(a)

     2,144        153,210  

Walker & Dunlop, Inc.

     1,854        141,219  
     

 

 

 
Total Financial Services

 

     17,194,901  
Food Products – 1.9%

 

Archer-Daniels-Midland Co.

     16,528        1,316,620  

Cal-Maine Foods, Inc.

     5,086        309,687  

Campbell Soup Co.

     14,001        769,775  

Conagra Brands, Inc.

     26,680        1,002,101  

Flowers Foods, Inc.

     18,820        515,856  

General Mills, Inc.

     33,240        2,840,690  

Hershey Co.

     6,697        1,703,784  

Hormel Foods Corp.

     20,530        818,736  

Ingredion, Inc.

     3,828        389,422  

J.M. Smucker Co.

     4,972        782,444  

Kellogg Co.

     24,634        1,649,493  

Kraft Heinz Co.

     76,691        2,965,641  

Lamb Weston Holdings, Inc.

     2,858        298,718  

Lancaster Colony Corp.

     833        168,999  

McCormick & Co., Inc., Non-Voting Shares

     7,884        656,028  

Mondelez International, Inc., Class A

     47,606        3,319,090  

Tyson Foods, Inc., Class A

     12,736        755,500  
     

 

 

 
Total Food Products

 

     20,262,584  
Gas Utilities – 0.3%

 

Atmos Energy Corp.

     6,705        753,374  

Chesapeake Utilities Corp.

     1,802        230,638  

National Fuel Gas Co.

     7,673        443,039  

New Jersey Resources Corp.

     9,249        492,047  

Northwest Natural Holding Co.

     6,949        330,494  

ONE Gas, Inc.

     3,991        316,207  

Southwest Gas Holdings, Inc.

     4,082        254,921  

Spire, Inc.

     3,280        230,059  

UGI Corp.

     12,217        424,663  
     

 

 

 
Total Gas Utilities

 

     3,475,442  
Ground Transportation – 1.2%

 

CSX Corp.

     63,553        1,902,777  

JB Hunt Transport Services, Inc.

     2,284        400,750  

Knight-Swift Transportation Holdings, Inc.

     2,877        162,781  

Landstar System, Inc.

     1,004        179,977  

Norfolk Southern Corp.

     10,919        2,314,828  

Old Dominion Freight Line, Inc.

     1,681        572,952  

Ryder System, Inc.

     4,201        374,897  

Union Pacific Corp.

     34,796        7,003,043  
     

 

 

 
Total Ground Transportation

 

     12,912,005  
Health Care Equipment & Supplies – 1.1%

 

Abbott Laboratories

     70,505        7,139,336  

Becton Dickinson & Co.

     6,243        1,545,392  

Cooper Cos., Inc.

     651        243,057  

Dentsply Sirona, Inc.

     8,637        339,261  

ResMed, Inc.

     2,053        449,587  

Stryker Corp.

     6,775        1,934,059  

Teleflex, Inc.

     808      204,675  

Zimmer Biomet Holdings, Inc.

     2,849        368,091  
     

 

 

 
Total Health Care Equipment & Supplies

 

     12,223,458  
Health Care Providers & Services – 2.7%

 

AmerisourceBergen Corp.

     4,035        646,044  

Cardinal Health, Inc.

     11,329        855,339  

Chemed Corp.

     303        162,938  

Cigna Group

     10,037        2,564,755  

CVS Health Corp.

     64,886        4,821,679  

Elevance Health, Inc.

     5,350        2,459,983  

Encompass Health Corp.

     3,751        202,929  

HCA Healthcare, Inc.

     4,322        1,139,625  

Humana, Inc.

     1,732        840,817  

Laboratory Corp. of America Holdings

     2,034        466,640  

McKesson Corp.

     1,950        694,298  

Patterson Cos., Inc.

     7,925        212,152  

Premier, Inc., Class A

     9,789        316,870  

Quest Diagnostics, Inc.

     3,739        528,994  

Select Medical Holdings Corp.

     6,085        157,297  

UnitedHealth Group, Inc.

     26,309        12,433,370  

Universal Health Services, Inc., Class B

     1,307        166,120  
     

 

 

 
Total Health Care Providers & Services

 

     28,669,850  
Health Care REITs – 0.4%

 

Healthpeak Properties, Inc.

     28,713        630,825  

Omega Healthcare Investors, Inc.

     27,169        744,702  

Physicians Realty Trust

     9,327        139,252  

Sabra Health Care REIT, Inc.

     16,272        187,128  

Ventas, Inc.

     19,473        844,154  

Welltower, Inc.

     21,885        1,568,936  
     

 

 

 
Total Health Care REITs

 

     4,114,997  
Hotel & Resort REITs – 0.1%

 

Apple Hospitality REIT, Inc.

     19,872        308,414  

Host Hotels & Resorts, Inc.

     17,239        284,271  
     

 

 

 
Total Hotel & Resort REITs

 

     592,685  
Hotels, Restaurants & Leisure – 2.1%

 

Aramark

     5,919        211,900  

Bloomin’ Brands, Inc.

     11,127        285,408  

Boyd Gaming Corp.

     3,412        218,777  

Cheesecake Factory, Inc.(a)

     6,841        239,777  

Choice Hotels International, Inc.

     1,012        118,596  

Churchill Downs, Inc.

     557        143,177  

Cracker Barrel Old Country Store, Inc.

     2,442        277,411  

Darden Restaurants, Inc.

     9,650        1,497,294  

Dine Brands Global, Inc.

     3,437        232,479  

Domino’s Pizza, Inc.

     938        309,418  

Hilton Worldwide Holdings, Inc.

     3,154        444,304  

Jack in the Box, Inc.

     1,243        108,874  

Marriott International, Inc., Class A

     7,226        1,199,805  

Marriott Vacations Worldwide Corp.

     1,774        239,242  

McDonald’s Corp.

     37,166        10,391,985  

Papa John’s International, Inc.

     5        375  

Red Rock Resorts, Inc., Class A

     3,024        134,780  

 

See Notes to Financial Statements.

 

106   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. Total Dividend Fund (DTD)

March 31, 2023

 

 

 

Investments    Shares      Value  

Starbucks Corp.

     35,369      $ 3,682,974  

Texas Roadhouse, Inc.

     4,154        448,881  

Travel & Leisure Co.

     6,710        263,032  

Vail Resorts, Inc.

     1,963        458,714  

Wendy’s Co.

     9,685        210,939  

Wyndham Hotels & Resorts, Inc.

     5,263        357,095  

Yum! Brands, Inc.

     10,659        1,407,841  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     22,883,078  
Household Durables – 0.3%

 

Century Communities, Inc.

     7,055        450,956  

D.R. Horton, Inc.

     5,500        537,295  

KB Home

     8,278        332,610  

La-Z-Boy, Inc.

     9,655        280,768  

Leggett & Platt, Inc.

     9,592        305,793  

Lennar Corp., Class A

     7,405        778,340  

MDC Holdings, Inc.

     5,168        200,880  

PulteGroup, Inc.

     5,444        317,276  

Tempur Sealy International, Inc.

     5,431        214,470  

Toll Brothers, Inc.

     11        660  
     

 

 

 
Total Household Durables

 

     3,419,048  
Household Products – 1.9%

 

Church & Dwight Co., Inc.

     5,549        490,587  

Clorox Co.

     6,041        955,928  

Colgate-Palmolive Co.

     44,537        3,346,956  

Energizer Holdings, Inc.

     6,228        216,112  

Kimberly-Clark Corp.

     16,801        2,255,030  

Procter & Gamble Co.

     88,929        13,222,853  

Reynolds Consumer Products, Inc.

     10,193        280,307  

Spectrum Brands Holdings, Inc.

     2,441        161,643  
     

 

 

 
Total Household Products

 

     20,929,416  
Independent Power & Renewable Electricity Producers – 0.2%

 

AES Corp.

     23,674        570,070  

Clearway Energy, Inc., Class A

     5,220        156,757  

Clearway Energy, Inc., Class C

     8,235        258,002  

Vistra Corp.

     31,803        763,272  
     

 

 

 
Total Independent Power & Renewable Electricity Producers

 

     1,748,101  
Industrial Conglomerates – 0.9%

 

3M Co.

     40,560        4,263,261  

General Electric Co.

     14,411        1,377,692  

Honeywell International, Inc.

     19,742        3,773,091  
     

 

 

 
Total Industrial Conglomerates

 

     9,414,044  
Industrial REITs – 0.6%

 

Americold Realty Trust, Inc.

     4,784        136,105  

EastGroup Properties, Inc.

     1,979        327,168  

First Industrial Realty Trust, Inc.

     5,884        313,029  

Innovative Industrial Properties, Inc.

     2        152  

LXP Industrial Trust

     11,688        120,503  

Prologis, Inc.

     36,900        4,604,013  

Rexford Industrial Realty, Inc.

     4,083        243,551  

STAG Industrial, Inc.

     7,854        265,622  
     

 

 

 
Total Industrial REITs

 

     6,010,143  
Insurance – 2.4%

 

Aflac, Inc.

     33,116      2,136,644  

Allstate Corp.

     10,849        1,202,178  

American Financial Group, Inc.

     3,167        384,791  

American International Group, Inc.

     34,631        1,744,017  

Arthur J. Gallagher & Co.

     3,748        717,030  

Assurant, Inc.

     1,952        234,377  

Brown & Brown, Inc.

     4,866        279,406  

Cincinnati Financial Corp.

     6,697        750,600  

CNA Financial Corp.

     15,483        604,302  

CNO Financial Group, Inc.

     9,521        211,271  

Erie Indemnity Co., Class A

     1,411        326,872  

Fidelity National Financial, Inc.

     17,190        600,447  

First American Financial Corp.

     6,753        375,872  

Globe Life, Inc.

     1,328        146,107  

Hanover Insurance Group, Inc.

     2,252        289,382  

Hartford Financial Services Group, Inc.

     15,884        1,106,956  

Horace Mann Educators Corp.

     6,719        224,952  

Kemper Corp.

     3,037        166,002  

Loews Corp.

     2,247        130,371  

Marsh & McLennan Cos., Inc.

     16,546        2,755,736  

Mercury General Corp.

     4,034        128,039  

MetLife, Inc.

     35,296        2,045,050  

Old Republic International Corp.

     25,116        627,147  

Primerica, Inc.

     1,637        281,957  

Principal Financial Group, Inc.

     16,776        1,246,792  

Progressive Corp.

     6,652        951,635  

Prudential Financial, Inc.

     24,845        2,055,675  

Reinsurance Group of America, Inc.

     4,161        552,414  

RLI Corp.

     965        128,258  

Safety Insurance Group, Inc.

     2,804        208,954  

Selective Insurance Group, Inc.

     1,756        167,399  

Stewart Information Services Corp.

     4,408        177,863  

Travelers Cos., Inc.

     10,398        1,782,321  

Unum Group

     16,984        671,887  

W.R. Berkley Corp.

     5,289        329,293  
     

 

 

 
Total Insurance

 

     25,741,997  
Interactive Media & Services – 0.0%

 

Shutterstock, Inc.

     5,451        395,743  
IT Services – 0.8%

 

Cognizant Technology Solutions Corp., Class A

     14,964        911,756  

International Business Machines Corp.

     61,052        8,003,307  
     

 

 

 
Total IT Services

 

     8,915,063  
Leisure Products – 0.1%

 

Acushnet Holdings Corp.

     2,772        141,206  

Brunswick Corp.

     2,779        227,878  

Hasbro, Inc.

     9,942        533,786  

Polaris, Inc.

     2,389        264,295  

Sturm Ruger & Co., Inc.

     3,349        192,366  
     

 

 

 
Total Leisure Products

 

     1,359,531  
Life Sciences Tools & Services – 0.6%

 

Agilent Technologies, Inc.

     4,375        605,237  

Bruker Corp.

     2,152        169,664  

 

See Notes to Financial Statements.

 

WisdomTree Trust      107  


Schedule of Investments (continued)

WisdomTree U.S. Total Dividend Fund (DTD)

March 31, 2023

 

 

 

Investments    Shares      Value  

Danaher Corp.

     9,024      $ 2,274,409  

PerkinElmer, Inc.

     2,143        285,576  

Thermo Fisher Scientific, Inc.

     4,737        2,730,265  

West Pharmaceutical Services, Inc.

     1,165        403,638  
     

 

 

 
Total Life Sciences Tools & Services

 

     6,468,789  
Machinery – 2.4%

 

AGCO Corp.

     1,365        184,548  

Allison Transmission Holdings, Inc.

     6,002        271,531  

Caterpillar, Inc.

     24,575        5,623,743  

Crane Holdings Co.

     2,807        318,595  

Cummins, Inc.

     5,885        1,405,809  

Deere & Co.

     5,035        2,078,851  

Donaldson Co., Inc.

     8,385        547,876  

Dover Corp.

     4,613        700,899  

Flowserve Corp.

     7,568        257,312  

Fortive Corp.

     5,779        393,954  

Graco, Inc.

     6,938        506,543  

Hillenbrand, Inc.

     3,984        189,360  

IDEX Corp.

     2,176        502,721  

Illinois Tool Works, Inc.

     16,175        3,937,804  

Ingersoll Rand, Inc.

     7,083        412,089  

ITT, Inc.

     4,200        362,460  

Kennametal, Inc.

     26        717  

Lincoln Electric Holdings, Inc.

     3,184        538,414  

Mueller Industries, Inc.

     3,476        255,416  

Mueller Water Products, Inc., Class A

     23,117        322,251  

Nordson Corp.

     1,992        442,742  

Oshkosh Corp.

     2,357        196,055  

Otis Worldwide Corp.

     14,420        1,217,048  

PACCAR, Inc.

     16,428        1,202,530  

Parker-Hannifin Corp.

     3,933        1,321,921  

Snap-on, Inc.

     3,420        844,364  

Timken Co.

     5,239        428,131  

Toro Co.

     3,477        386,503  

Trinity Industries, Inc.

     7,112        173,248  

Westinghouse Air Brake Technologies Corp.

     3,135        316,823  

Xylem, Inc.

     3,401        356,085  
     

 

 

 
Total Machinery

 

     25,696,343  
Marine Transportation – 0.0%

 

Matson, Inc.

     2,034        121,369  
Media – 1.3%

 

Cable One, Inc.

     278        195,156  

Comcast Corp., Class A

     206,107        7,813,516  

Fox Corp., Class A

     15,716        535,130  

Fox Corp., Class B

     1,671        52,319  

Gray Television, Inc.

     4,685        40,853  

Interpublic Group of Cos., Inc.

     22,776        848,178  

John Wiley & Sons, Inc., Class A

     3,841        148,916  

New York Times Co., Class A

     4,870        189,346  

News Corp., Class A

     19,516        337,041  

News Corp., Class B

     37        645  

Nexstar Media Group, Inc.

     2,175        375,536  

Omnicom Group, Inc.

     11,964        1,128,684  

Paramount Global, Class B

     52,198      1,164,537  

Sirius XM Holdings, Inc.(a)

     148,037        587,707  

TEGNA, Inc.

     13,776        232,952  
     

 

 

 
Total Media

 

     13,650,516  
Metals & Mining – 0.5%

 

Alcoa Corp.

     4,234        180,199  

Commercial Metals Co.

     7,907        386,652  

Freeport-McMoRan, Inc.

     35,901        1,468,710  

Kaiser Aluminum Corp.

     1,946        145,230  

Nucor Corp.

     8,014        1,237,923  

Reliance Steel & Aluminum Co.

     2,880        739,411  

Royal Gold, Inc.

     2,722        353,071  

Steel Dynamics, Inc.

     5,617        635,058  

United States Steel Corp.

     5,959        155,530  
     

 

 

 
Total Metals & Mining

 

     5,301,784  
Multi-Utilities – 1.6%

 

Ameren Corp.

     10,541        910,637  

Avista Corp.

     5,375        228,169  

Black Hills Corp.

     3,626        228,800  

CenterPoint Energy, Inc.

     35,706        1,051,899  

CMS Energy Corp.

     14,243        874,235  

Consolidated Edison, Inc.

     24,993        2,391,080  

Dominion Energy, Inc.

     57,646        3,222,988  

DTE Energy Co.

     14,620        1,601,475  

NiSource, Inc.

     24,021        671,627  

NorthWestern Corp.

     3,824        221,257  

Public Service Enterprise Group, Inc.

     26,797        1,673,473  

Sempra Energy

     14,389        2,175,041  

WEC Energy Group, Inc.

     15,335        1,453,605  
     

 

 

 
Total Multi-Utilities

 

     16,704,286  
Office REITs – 0.1%

 

Alexandria Real Estate Equities, Inc.

     6,406        804,529  

Cousins Properties, Inc.

     8,286        177,155  

Highwoods Properties, Inc.

     35        812  

Kilroy Realty Corp.

     25        810  

Piedmont Office Realty Trust, Inc., Class A

     35,855        261,741  

SL Green Realty Corp.

     23        541  
     

 

 

 
Total Office REITs

 

     1,245,588  
Oil, Gas & Consumable Fuels – 9.9%

 

Antero Midstream Corp.

     67,932        712,607  

APA Corp.

     11,474        413,752  

Arch Resources, Inc.

     2,085        274,094  

California Resources Corp.

     4,696        180,796  

Cheniere Energy, Inc.

     5,820        917,232  

Chesapeake Energy Corp.

     16,432        1,249,489  

Chevron Corp.

     142,596        23,265,963  

Chord Energy Corp.

     4,785        644,061  

Civitas Resources, Inc.

     10,478        716,067  

Comstock Resources, Inc.(a)

     19,795        213,588  

ConocoPhillips

     49,936        4,954,151  

CONSOL Energy, Inc.

     4,921        286,747  

Coterra Energy, Inc.

     92,835        2,278,171  

 

See Notes to Financial Statements.

 

108   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. Total Dividend Fund (DTD)

March 31, 2023

 

 

 

Investments    Shares      Value  

CVR Energy, Inc.

     11,160      $ 365,825  

Devon Energy Corp.

     76,513        3,872,323  

Diamondback Energy, Inc.

     17,258        2,332,764  

DTE Midstream LLC

     7,701        380,198  

EOG Resources, Inc.

     32,986        3,781,185  

EQT Corp.

     9,922        316,611  

Equitrans Midstream Corp.

     48,143        278,267  

Exxon Mobil Corp.

     322,867        35,405,595  

Hess Corp.

     6,237        825,405  

HF Sinclair Corp.

     11,436        553,274  

Kinetik Holdings, Inc.(a)

     5,303        165,984  

Magnolia Oil & Gas Corp., Class A

     9,428        206,285  

Marathon Oil Corp.

     17,326        415,131  

Marathon Petroleum Corp.

     20,392        2,749,453  

Matador Resources Co.

     2,874        136,946  

Murphy Oil Corp.

     8,429        311,704  

Northern Oil & Gas, Inc.

     8,280        251,298  

Occidental Petroleum Corp.

     16,521        1,031,406  

Ovintiv, Inc.

     9,078        327,534  

PBF Energy, Inc., Class A

     7,325        317,612  

PDC Energy, Inc.

     3,847        246,900  

Permian Resources Corp.

     14,447        151,694  

Phillips 66

     26,557        2,692,349  

Pioneer Natural Resources Co.

     26,834        5,480,576  

Range Resources Corp.

     6,403        169,487  

Sitio Royalties Corp., Class A

     8,199        185,297  

SM Energy Co.

     4,304        121,201  

Targa Resources Corp.

     7,752        565,508  

Texas Pacific Land Corp.

     133        226,236  

Valero Energy Corp.

     28,361        3,959,196  

Williams Cos., Inc.

     88,897        2,654,464  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     106,584,426  
Paper & Forest Products – 0.0%

 

Louisiana-Pacific Corp.

     2,530        137,151  

Sylvamo Corp.

     2,448        113,245  
     

 

 

 
Total Paper & Forest Products

 

     250,396  
Personal Care Products – 0.2%

 

Edgewell Personal Care Co.

     1,780        75,508  

Estee Lauder Cos., Inc., Class A

     4,303        1,060,517  

Inter Parfums, Inc.

     2,052        291,876  

Medifast, Inc.

     925        95,895  

Nu Skin Enterprises, Inc., Class A

     5,477        215,301  
     

 

 

 
Total Personal Care Products

 

     1,739,097  
Pharmaceuticals – 6.4%

 

Bristol-Myers Squibb Co.

     130,628        9,053,827  

Eli Lilly & Co.

     23,890        8,204,304  

Johnson & Johnson

     101,585        15,745,675  

Merck & Co., Inc.

     154,729        16,461,618  

Organon & Co.

     26,128        614,531  

Pfizer, Inc.

     406,891        16,601,153  

Viatris, Inc.

     85,616        823,626  

Zoetis, Inc.

     5,649        940,219  
     

 

 

 
Total Pharmaceuticals

 

     68,444,953  
Professional Services – 1.1%

 

Automatic Data Processing, Inc.

     18,540      4,127,560  

Booz Allen Hamilton Holding Corp.

     3,656        338,875  

Broadridge Financial Solutions, Inc.

     3,657        536,006  

Concentrix Corp.

     1,328        161,418  

Dun & Bradstreet Holdings, Inc.

     15,395        180,737  

Equifax, Inc.

     1,837        372,617  

Exponent, Inc.

     1,769        176,352  

Insperity, Inc.

     2,356        286,372  

Jacobs Solutions, Inc.

     2,134        250,766  

KBR, Inc.

     2,674        147,204  

Korn Ferry

     2,999        155,168  

Leidos Holdings, Inc.

     3,164        291,278  

ManpowerGroup, Inc.

     4,101        338,456  

Maximus, Inc.

     2,031        159,840  

Paychex, Inc.

     21,189        2,428,047  

Robert Half International, Inc.

     4,589        369,736  

Science Applications International Corp.

     2,504        269,080  

SS&C Technologies Holdings, Inc.

     7,507        423,920  

TTEC Holdings, Inc.

     3,238        120,551  

Verisk Analytics, Inc.

     2,428        465,836  
     

 

 

 
Total Professional Services

 

     11,599,819  
Real Estate Management & Development – 0.0%

 

Kennedy-Wilson Holdings, Inc.

     54        896  
Residential REITs – 0.6%

 

American Homes 4 Rent, Class A

     6,874        216,187  

Apartment Income REIT Corp.

     10,251        367,088  

AvalonBay Communities, Inc.

     6,678        1,122,305  

Camden Property Trust

     2,982        312,633  

Equity LifeStyle Properties, Inc.

     4,676        313,900  

Equity Residential

     19,188        1,151,280  

Essex Property Trust, Inc.

     3,153        659,418  

Invitation Homes, Inc.

     18,707        584,220  

Mid-America Apartment Communities, Inc.

     6,687        1,010,005  

Sun Communities, Inc.

     2,450        345,156  

UDR, Inc.

     13,408        550,532  
     

 

 

 
Total Residential REITs

 

     6,632,724  
Retail REITs – 1.0%

 

Agree Realty Corp.

     3,412        234,097  

Brixmor Property Group, Inc.

     23,320        501,846  

Federal Realty Investment Trust

     5,460        539,612  

Kimco Realty Corp.

     32,543        635,565  

Kite Realty Group Trust

     8,232        172,214  

Macerich Co.

     18        191  

National Retail Properties, Inc.

     15,582        687,945  

Realty Income Corp.

     42,140        2,668,305  

Regency Centers Corp.

     6,869        420,245  

Retail Opportunity Investments Corp.

     13,226        184,635  

Simon Property Group, Inc.

     36,955        4,137,851  

Spirit Realty Capital, Inc.

     14,519        578,437  

Tanger Factory Outlet Centers, Inc.

     5,760        113,069  
     

 

 

 
Total Retail REITs

 

     10,874,012  

 

See Notes to Financial Statements.

 

WisdomTree Trust      109  


Schedule of Investments (continued)

WisdomTree U.S. Total Dividend Fund (DTD)

March 31, 2023

 

 

 

Investments    Shares      Value  
Semiconductors & Semiconductor Equipment – 4.2%

 

Amkor Technology, Inc.

     6,466      $ 168,245  

Analog Devices, Inc.

     13,789        2,719,467  

Applied Materials, Inc.

     13,184        1,619,391  

Broadcom, Inc.

     18,971        12,170,655  

KLA Corp.

     3,376        1,347,598  

Lam Research Corp.

     3,272        1,734,553  

Microchip Technology, Inc.

     14,183        1,188,252  

Micron Technology, Inc.

     15,199        917,108  

MKS Instruments, Inc.

     1,873        165,985  

Monolithic Power Systems, Inc.

     793        396,928  

NVIDIA Corp.

     31,100        8,638,647  

Power Integrations, Inc.

     9        762  

QUALCOMM, Inc.

     41,699        5,319,958  

Skyworks Solutions, Inc.

     7,135        841,787  

Teradyne, Inc.

     2,590        278,451  

Texas Instruments, Inc.

     38,538        7,168,453  

Universal Display Corp.

     1,420        220,285  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     44,896,525  
Software – 4.2%

 

A10 Networks, Inc.

     8,300        128,567  

Bentley Systems, Inc., Class B

     4,921        211,554  

Dolby Laboratories, Inc., Class A

     2,116        180,749  

Gen Digital, Inc.

     22,023        377,915  

InterDigital, Inc.

     1,259        91,781  

Intuit, Inc.

     3,808        1,697,720  

Microsoft Corp.

     123,918        35,725,559  

Oracle Corp.

     66,160        6,147,587  

Roper Technologies, Inc.

     1,307        575,982  
     

 

 

 
Total Software

 

     45,137,414  
Specialized REITs – 2.1%

 

American Tower Corp.

     19,044        3,891,451  

Crown Castle, Inc.

     27,931        3,738,285  

CubeSmart

     16,164        747,100  

Digital Realty Trust, Inc.

     17,440        1,714,526  

EPR Properties

     8,905        339,281  

Equinix, Inc.

     2,193        1,581,241  

Extra Space Storage, Inc.

     6,317        1,029,229  

Gaming & Leisure Properties, Inc.

     18,741        975,656  

Iron Mountain, Inc.

     16,234        858,941  

Lamar Advertising Co., Class A

     7,642        763,359  

Life Storage, Inc.

     5,929        777,233  

National Storage Affiliates Trust

     5,472        228,620  

PotlatchDeltic Corp.

     2,714        134,343  

Public Storage

     10,146        3,065,512  

Rayonier, Inc.

     4,385        145,845  

SBA Communications Corp.

     1,333        348,006  

Uniti Group, Inc.

     9,000        31,950  

VICI Properties, Inc.

     63,388        2,067,717  

Weyerhaeuser Co.

     16,392        493,891  
     

 

 

 
Total Specialized REITs

 

     22,932,186  
Specialty Retail – 2.1%

 

Advance Auto Parts, Inc.

     3,965        482,184  

Bath & Body Works, Inc.

     7,415      271,241  

Best Buy Co., Inc.

     14,774        1,156,361  

Big 5 Sporting Goods Corp.

     29        223  

Buckle, Inc.

     5,933        211,749  

Camping World Holdings, Inc., Class A

     2,721        56,787  

Dick’s Sporting Goods, Inc.

     2,170        307,901  

Foot Locker, Inc.

     6,579        261,120  

Gap, Inc.

     25,618        257,205  

Guess?, Inc.

     10,513        204,583  

Home Depot, Inc.

     37,172        10,970,201  

Lithia Motors, Inc.

     669        153,154  

Lowe’s Cos., Inc.

     19,117        3,822,826  

Penske Automotive Group, Inc.

     2,992        424,295  

Ross Stores, Inc.

     6,037        640,707  

TJX Cos., Inc.

     27,080        2,121,989  

Tractor Supply Co.

     2,993        703,475  

Upbound Group, Inc.

     7,354        180,246  

Williams-Sonoma, Inc.

     3,448        419,484  
     

 

 

 
Total Specialty Retail

 

     22,645,731  
Technology Hardware, Storage & Peripherals – 3.8%

 

Apple, Inc.

     227,902        37,581,040  

Hewlett Packard Enterprise Co.

     62,192        990,719  

HP, Inc.

     57,587        1,690,178  

NetApp, Inc.

     11,947        762,816  

Xerox Holdings Corp.

     16,553        254,916  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     41,279,669  
Textiles, Apparel & Luxury Goods – 0.4%

 

Carter’s, Inc.(a)

     2,123        152,686  

Columbia Sportswear Co.

     1,797        162,161  

Kontoor Brands, Inc.

     5,537        267,935  

Levi Strauss & Co., Class A

     9,995        182,209  

NIKE, Inc., Class B

     24,157        2,962,615  

Oxford Industries, Inc.

     1,487        157,012  

Ralph Lauren Corp.

     1,892        220,740  

Steven Madden Ltd.

     13        468  

Tapestry, Inc.

     13,825        595,996  

Wolverine World Wide, Inc.

     4,843        82,573  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     4,784,395  
Tobacco – 2.4%

 

Altria Group, Inc.

     197,518        8,813,253  

Philip Morris International, Inc.

     166,478        16,189,986  

Universal Corp.

     4,733        250,328  

Vector Group Ltd.

     27,176        326,384  
     

 

 

 
Total Tobacco

 

     25,579,951  
Trading Companies & Distributors – 0.5%

 

Air Lease Corp.

     6,324        248,976  

Applied Industrial Technologies, Inc.

     2,248        319,508  

Fastenal Co.

     33,668        1,816,052  

GATX Corp.

     1,298        142,806  

H&E Equipment Services, Inc.

     5,394        238,577  

Herc Holdings, Inc.

     1,478        168,344  

MSC Industrial Direct Co., Inc., Class A

     5,262        442,008  

 

See Notes to Financial Statements.

 

110   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree U.S. Total Dividend Fund (DTD)

March 31, 2023

 

 

 

Investments    Shares      Value  

Rush Enterprises, Inc., Class A

     4,497      $ 245,536  

Veritiv Corp.

     1,074        145,140  

W.W. Grainger, Inc.

     1,383        952,624  

Watsco, Inc.(a)

     2,759        877,804  
     

 

 

 
Total Trading Companies & Distributors

 

     5,597,375  
Water Utilities – 0.1%

 

American States Water Co.

     1,402        124,624  

American Water Works Co., Inc.

     5,571        816,096  

California Water Service Group

     2,712        157,838  

Essential Utilities, Inc.

     10,850        473,602  
     

 

 

 
Total Water Utilities

 

     1,572,160  
Wireless Telecommunication Services – 0.0%

 

Telephone & Data Systems, Inc.      10,717        112,636  
Total United States

 

     1,074,751,628  
Puerto Rico – 0.1%

 

Banks – 0.1%

 

First Bancorp

     20,192        230,593  

OFG Bancorp

     12,070        301,026  

Popular, Inc.

     4,915        282,170  
Total Puerto Rico

 

     813,789  
TOTAL COMMON STOCKS
(Cost: $883,961,832)

 

     1,075,565,417  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.1%

 

United States – 0.1%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(b)

     
(Cost: $1,032,665)      1,032,665      1,032,665  
TOTAL INVESTMENTS IN SECURITIES – 99.9%
(Cost: $884,994,497)

 

     1,076,598,082  

Other Assets less Liabilities – 0.1%

        1,189,689  
     

 

 

 
NET ASSETS – 100.0%

 

   $ 1,077,787,771  
^ 

Subsequent to March 31, 2023, the California Department of Financial Protection and Innovation (“DFPI”) announced on May 1, 2023 that regulators have taken possession of First Republic Bank. The DFPI appointed the Federal Deposit Insurance Corporation (“FDIC”) as receiver of First Republic Bank. The FDIC has accepted a bid from JPMorgan Chase & Co. to assume all deposits, including all uninsured deposits, and substantially all assets of First Republic Bank.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $3,745,884 and the total market value of the collateral held by the Fund was $3,816,108. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $2,783,443.

 

(b) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

  

Investments in Securities

     

Common Stocks

   $ 1,075,565,417      $      $      $ 1,075,565,417  

Investment of Cash Collateral for Securities Loaned

            1,032,665               1,032,665  

Total Investments in Securities

   $ 1,075,565,417      $ 1,032,665      $      $ 1,076,598,082  

 

See Notes to Financial Statements.

 

WisdomTree Trust      111  


Schedule of Investments

WisdomTree U.S. Value Fund (WTV)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.9%

 

United States – 99.9%

 

Aerospace & Defense – 0.9%

 

Woodward, Inc.

     13,543      $ 1,318,682  
Air Freight & Logistics – 1.8%

 

C.H. Robinson Worldwide, Inc.

     14,638        1,454,578  

Expeditors International of Washington, Inc.

     10,352        1,139,962  
     

 

 

 
Total Air Freight & Logistics

 

     2,594,540  
Banks – 1.4%

 

Wells Fargo & Co.

     31,842        1,190,254  

Zions Bancorp NA

     27,671        828,193  
     

 

 

 
Total Banks

 

     2,018,447  
Biotechnology – 0.6%

 

Amgen, Inc.

     3,852        931,221  
Broadline Retail – 1.7%

 

Dillard’s, Inc., Class A

     2,644        813,506  

eBay, Inc.

     21,101        936,252  

Macy’s, Inc.

     42,125        736,766  
     

 

 

 
Total Broadline Retail

 

     2,486,524  
Building Products – 4.1%

 

Builders FirstSource, Inc.*

     21,625        1,919,868  

Fortune Brands Innovations, Inc.

     23,466        1,378,158  

Masco Corp.

     28,542        1,419,108  

Owens Corning

     14,593        1,398,009  
     

 

 

 
Total Building Products

 

     6,115,143  
Capital Markets – 3.3%

 

Affiliated Managers Group, Inc.

     7,096        1,010,612  

Jefferies Financial Group, Inc.

     40,363        1,281,122  

Morgan Stanley

     14,997        1,316,736  

T. Rowe Price Group, Inc.

     10,754        1,214,127  
     

 

 

 
Total Capital Markets

 

     4,822,597  
Chemicals – 4.0%

 

Dow, Inc.

     28,245        1,548,391  

Eastman Chemical Co.

     16,608        1,400,719  

Mosaic Co.

     31,549        1,447,468  

Olin Corp.

     26,292        1,459,206  
     

 

 

 
Total Chemicals

 

     5,855,784  
Communications Equipment – 1.5%

 

Ciena Corp.*

     21,312        1,119,306  

Cisco Systems, Inc.

     20,045        1,047,853  
     

 

 

 
Total Communications Equipment

 

     2,167,159  
Construction & Engineering – 1.0%

 

EMCOR Group, Inc.

     8,954        1,455,831  
Consumer Finance – 2.6%

 

Credit Acceptance Corp.*

     3,036        1,323,817  

Discover Financial Services

     13,727        1,356,777  

Synchrony Financial

     40,617        1,181,142  
     

 

 

 
Total Consumer Finance

 

     3,861,736  
Containers & Packaging – 2.6%

 

Berry Global Group, Inc.

     23,181        1,365,361  

International Paper Co.

     39,023      1,407,169  

Westrock Co.

     35,463        1,080,558  
     

 

 

 
Total Containers & Packaging

 

     3,853,088  
Distributors – 0.7%

 

LKQ Corp.

     17,384        986,716  
Diversified Consumer Services – 1.0%

 

H&R Block, Inc.(a)

     21,836        769,719  

Service Corp. International

     10,908        750,252  
     

 

 

 
Total Diversified Consumer Services

 

     1,519,971  
Electric Utilities – 1.6%

 

NRG Energy, Inc.

     43,247        1,482,939  

PPL Corp.

     33,682        936,023  
     

 

 

 
Total Electric Utilities

 

     2,418,962  
Electrical Equipment – 0.9%

 

Acuity Brands, Inc.

     6,956        1,271,070  
Electronic Equipment, Instruments & Components – 2.0%

 

Arrow Electronics, Inc.*

     13,076        1,632,800  

Jabil, Inc.

     14,147        1,247,200  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     2,880,000  
Financial Services – 3.1%

 

Equitable Holdings, Inc.

     48,755        1,237,889  

FleetCor Technologies, Inc.*

     7,847        1,654,540  

Voya Financial, Inc.(a)

     23,536        1,681,883  
     

 

 

 
Total Financial Services

 

     4,574,312  
Food Products – 0.8%

 

Post Holdings, Inc.*

     12,378        1,112,411  
Ground Transportation – 3.1%

 

Avis Budget Group, Inc.*

     8,221        1,601,451  

CSX Corp.

     33,368        999,038  

Norfolk Southern Corp.

     4,258        902,696  

Union Pacific Corp.

     5,001        1,006,501  
     

 

 

 
Total Ground Transportation

 

     4,509,686  
Health Care Providers & Services – 4.7%

 

Cardinal Health, Inc.

     17,135        1,293,693  

Cigna Group

     3,380        863,691  

HCA Healthcare, Inc.

     5,961        1,571,796  

Laboratory Corp. of America Holdings

     5,436        1,247,127  

McKesson Corp.

     2,600        925,730  

Quest Diagnostics, Inc.

     7,643        1,081,332  
     

 

 

 
Total Health Care Providers & Services

 

     6,983,369  
Hotels, Restaurants & Leisure – 2.3%

 

Boyd Gaming Corp.

     13,852        888,190  

Darden Restaurants, Inc.

     5,763        894,187  

Marriott Vacations Worldwide Corp.(a)

     6,617        892,369  

Wyndham Hotels & Resorts, Inc.

     9,585        650,342  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     3,325,088  
Household Durables – 3.7%

 

Lennar Corp., Class A

     9,372        985,091  

NVR, Inc.*

     194        1,081,005  

PulteGroup, Inc.

     20,931        1,219,859  

 

See Notes to Financial Statements.

 

112   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree U.S. Value Fund (WTV)

March 31, 2023

 

 

 

Investments    Shares      Value  

Tempur Sealy International, Inc.

     28,383      $ 1,120,844  

Toll Brothers, Inc.

     16,269        976,628  
     

 

 

 
Total Household Durables

 

     5,383,427  
Insurance – 8.8%

 

Aflac, Inc.

     15,183        979,607  

Allstate Corp.

     10,794        1,196,083  

American International Group, Inc.

     22,801        1,148,258  

Fidelity National Financial, Inc.

     38,070        1,329,785  

First American Financial Corp.

     27,099        1,508,330  

Hartford Financial Services Group, Inc.

     17,245        1,201,804  

Loews Corp.

     17,795        1,032,466  

MetLife, Inc.

     18,124        1,050,105  

Primerica, Inc.

     7,838        1,350,017  

Principal Financial Group, Inc.

     16,161        1,201,086  

Prudential Financial, Inc.

     11,292        934,300  
     

 

 

 
Total Insurance

 

     12,931,841  
Interactive Media & Services – 1.7%

 

Meta Platforms, Inc., Class A*

     12,081        2,560,447  
IT Services – 1.8%

 

DXC Technology Co.*

     53,708        1,372,777  

GoDaddy, Inc., Class A*

     16,002        1,243,675  
     

 

 

 
Total IT Services

 

     2,616,452  
Leisure Products – 0.5%

 

Polaris, Inc.

     7,352        813,352  
Life Sciences Tools & Services – 0.9%

 

Medpace Holdings, Inc.*(a)

     7,185        1,351,139  
Media – 5.4%

 

Charter Communications, Inc., Class A*

     3,722        1,331,024  

Comcast Corp., Class A

     39,396        1,493,502  

Fox Corp., Class A(a)

     32,220        1,097,091  

Liberty Broadband Corp., Class C*

     16,331        1,334,243  

Nexstar Media Group, Inc.

     7,469        1,289,598  

Omnicom Group, Inc.

     15,173        1,431,421  
     

 

 

 
Total Media

 

     7,976,879  
Metals & Mining – 4.7%

 

Alcoa Corp.

     25,639        1,091,196  

Nucor Corp.

     9,900        1,529,253  

Reliance Steel & Aluminum Co.

     5,172        1,327,859  

Steel Dynamics, Inc.

     13,549        1,531,850  

United States Steel Corp.

     57,485        1,500,359  
     

 

 

 
Total Metals & Mining

 

     6,980,517  
Oil, Gas & Consumable Fuels – 9.6%

 

Antero Resources Corp.*

     27,394        632,527  

APA Corp.

     33,781        1,218,143  

Chevron Corp.

     5,887        960,523  

ConocoPhillips

     8,359        829,296  

Devon Energy Corp.

     16,146        817,149  

Diamondback Energy, Inc.

     7,981        1,078,792  

Exxon Mobil Corp.

     7,830        858,638  

Magnolia Oil & Gas Corp., Class A

     50,723        1,109,819  

Marathon Oil Corp.

     53,932        1,292,211  

Marathon Petroleum Corp.

     12,932      1,743,622  

Ovintiv, Inc.

     19,003        685,628  

PDC Energy, Inc.

     22,836        1,465,615  

Valero Energy Corp.

     10,564        1,474,734  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     14,166,697  
Pharmaceuticals – 0.6%

 

Bristol-Myers Squibb Co.

     13,237        917,456  
Real Estate Management & Development – 2.1%

 

Jones Lang LaSalle, Inc.*

     9,060        1,318,139  

Zillow Group, Inc., Class C*(a)

     39,576        1,759,945  
     

 

 

 
Total Real Estate Management & Development

 

     3,078,084  
Residential REITs – 0.7%

 

Apartment Income REIT Corp.

     30,836        1,104,237  
Semiconductors & Semiconductor Equipment – 2.5%

 

Applied Materials, Inc.

     9,436        1,159,024  

KLA Corp.

     3,312        1,322,051  

Teradyne, Inc.

     10,559        1,135,198  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     3,616,273  
Software – 3.2%

 

Dolby Laboratories, Inc., Class A

     15,220        1,300,092  

Dropbox, Inc., Class A*

     63,060        1,363,357  

Fair Isaac Corp.*

     1,581        1,110,953  

Salesforce, Inc.*

     4,666        932,174  
     

 

 

 
Total Software

 

     4,706,576  
Specialty Retail – 4.4%

 

AutoNation, Inc.*

     7,925        1,064,803  

Bath & Body Works, Inc.

     21,771        796,383  

Best Buy Co., Inc.

     11,051        864,962  

Lithia Motors, Inc.(a)

     4,236        969,748  

Lowe’s Cos., Inc.

     4,537        907,264  

Penske Automotive Group, Inc.

     6,567        931,266  

Williams-Sonoma, Inc.

     8,002        973,523  
     

 

 

 
Total Specialty Retail

 

     6,507,949  
Technology Hardware, Storage & Peripherals – 0.8%

 

NetApp, Inc.

     18,229        1,163,922  
Textiles, Apparel & Luxury Goods – 1.9%

 

Columbia Sportswear Co.

     7,496        676,439  

Ralph Lauren Corp.

     8,467        987,845  

Tapestry, Inc.

     24,858        1,071,628  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     2,735,912  
Tobacco – 0.9%

 

Altria Group, Inc.

     29,696        1,325,036  
TOTAL COMMON STOCKS
(Cost: $142,551,287)

 

     146,998,533  

 

See Notes to Financial Statements.

 

WisdomTree Trust      113  


Schedule of Investments (concluded)

WisdomTree U.S. Value Fund (WTV)

March 31, 2023

 

 

 

Investments    Shares      Value  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.0%

 

United States – 0.0%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(b)

     
(Cost: $56,794)      56,794      $ 56,794  
TOTAL INVESTMENTS IN SECURITIES – 99.9%
(Cost: $142,608,081)

 

     147,055,327  

Other Assets less Liabilities – 0.1%

        158,587  
     

 

 

 
NET ASSETS – 100.0%

 

   $ 147,213,914  
* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $7,524,443 and the total market value of the collateral held by the Fund was $7,686,758. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $7,629,964.

 

(b) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

    

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate    Value at
3/31/2022
     Purchases/
Additions
     Sales/
Reductions
     Realized
Gain/(Loss)
     Change in
Unrealized
Appreciation/
Depreciation
     Value at
3/31/2023
     Dividend
Income
 

WisdomTree U.S. LargeCap Fund^

   $      $ 664,301      $ 664,006      $ (295    $      $      $ 3,556  

WisdomTree U.S. MidCap Fund^

            284,071        285,194        1,123                      1,386  

Total

   $      $ 948,372      $ 949,200      $ 828      $      $      $ 4,942  
^ 

As of March 31, 2023, the Fund did not hold a position in this affiliate.

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

  

Investments in Securities

     

Common Stocks

   $ 146,998,533      $      $      $ 146,998,533  

Investment of Cash Collateral for Securities Loaned

            56,794               56,794  

Total Investments in Securities

   $ 146,998,533      $ 56,794      $      $ 147,055,327  

 

See Notes to Financial Statements.

 

114   WisdomTree Trust


Statements of Assets and Liabilities

WisdomTree Trust

March 31, 2023

 

 

 

      WisdomTree
U.S. AI Enhanced
Value Fund
     WisdomTree
U.S. ESG Fund
     WisdomTree
U.S. Growth &
Momentum
Fund
     WisdomTree
U.S. High
Dividend Fund
     WisdomTree
U.S. LargeCap
Dividend Fund
 

ASSETS:

              

Investments, at cost

   $ 425,417,533      $ 56,042,618      $ 2,468,734      $ 1,334,208,742      $ 2,804,308,768  

Investment in affiliates, at cost (Note 3)

                          63,239        3,147,690  

Investments in securities, at value1,2 (Note 2)

     401,959,768        67,856,258        2,482,597        1,335,439,361        3,467,556,564  

Investment in affiliates, at value (Note 3)

                          70,042        3,180,975  

Cash

     1,287,675        38,366        3,686        1,179,411        3,120,381  

Receivables:

              

Investment securities sold3

                          4,113,299        9,174,866  

Dividends

     737,483        58,555        530        3,650,412        4,854,048  

Securities lending income

     41,332        4        13        3,831        16,058  

Total Assets

     404,026,258        67,953,183        2,486,826        1,344,456,356        3,487,902,892  

LIABILITIES:

 

Payables:

              

Cash collateral received for securities loaned (Note 2)

     7,531,713                      2,764,365        4,334,043  

Investment securities purchased

                          28,182        3,147,690  

Capital shares redeemed

                          4,114,154        9,172,883  

Advisory fees (Note 3)

     126,525        15,713        1,189        444,335        827,665  

Service fees (Note 2)

     1,465        247        10        5,149        13,008  

Total Liabilities

     7,659,703        15,960        1,199        7,356,185        17,495,289  

NET ASSETS

   $ 396,366,555      $ 67,937,223      $ 2,485,627      $ 1,337,100,171      $ 3,470,407,603  

NET ASSETS:

              

Paid-in capital

   $ 534,088,619      $ 67,420,639      $ 4,018,377      $ 1,447,135,775      $ 3,042,375,706  

Total distributable earnings (loss)

     (137,722,064      516,584        (1,532,750      (110,035,604      428,031,897  

NET ASSETS

   $ 396,366,555      $ 67,937,223      $ 2,485,627      $ 1,337,100,171      $ 3,470,407,603  

Outstanding beneficial interest shares of $0.001 par value (unlimited number of shares authorized)

     4,325,000        1,575,000        120,000        16,250,000        56,100,000  

Net asset value per share

   $ 91.65      $ 43.13      $ 20.71      $ 82.28      $ 61.86  

1 Includes market value of securities out on loan of:

   $ 9,873,380      $ 192,268             $ 26,538,438      $ 5,552,677  

2 Investments in securities include investment of cash collateral for securities loaned (see Schedule of Investments for additional information).

  

  

3 Includes market value of securities out on loan, which were sold and pending settlement, of:

                        $ 356,609      $ 252  

 

See Notes to Financial Statements.

 

WisdomTree Trust      115  


Statements of Assets and Liabilities (continued)

WisdomTree Trust

March 31, 2023

 

 

 

      WisdomTree
U.S. LargeCap
Fund
     WisdomTree
U.S. MidCap
Dividend Fund
     WisdomTree
U.S. MidCap
Fund
     WisdomTree
U.S. Multifactor
Fund
     WisdomTree
U.S. Quality
Dividend
Growth Fund
 

ASSETS:

              

Investments, at cost

   $ 610,975,989      $ 3,081,889,320      $ 702,591,690      $ 254,341,710      $ 7,376,819,820  

Investment in affiliates, at cost (Note 3)

     126,378               664,572                

Investments in securities, at value1,2 (Note 2)

     658,172,615        3,215,593,558        716,598,622        262,014,838        8,118,634,428  

Investment in affiliates, at value (Note 3)

     151,624               685,145                

Cash

     295,866        1,767,333        358,739        323,997        5,537,053  

Deposits at broker

                          105,000         

Receivables:

              

Investment securities sold3

     6,553,925        4,033,745                       

Capital shares sold

                                 27,935,941  

Dividends

     487,933        5,488,492        681,615        179,897        12,138,351  

Securities lending income

     901        5,827        13,007        92        38,346  

Total Assets

     665,662,864        3,226,888,955        718,337,128        262,623,824        8,164,284,119  

LIABILITIES:

 

Payables:

 

Cash collateral received for securities loaned (Note 2)

     417,512        1,799,191        1,406,966               7,624,900  

Investment securities purchased

                                 27,915,246  

Capital shares redeemed

     6,564,465        4,037,024                       

Advisory fees (Note 3)

     43,725        1,037,563        235,621        59,040        1,806,464  

Service fees (Note 2)

     2,405        12,018        2,730        928        28,387  

Total Liabilities

     7,028,107        6,885,796        1,645,317        59,968        37,374,997  

NET ASSETS

   $ 658,634,757      $ 3,220,003,159      $ 716,691,811      $ 262,563,856      $ 8,126,909,122  

NET ASSETS:

              

Paid-in capital

   $ 671,837,089      $ 3,557,291,153      $ 788,843,842      $ 290,278,914      $ 7,864,118,957  

Total distributable earnings (loss)

     (13,202,332      (337,287,994      (72,152,031 )        (27,715,058      262,790,165  

NET ASSETS

   $ 658,634,757      $ 3,220,003,159      $ 716,691,811      $ 262,563,856      $ 8,126,909,122  

Outstanding beneficial interest shares of $0.001 par value (unlimited number of shares authorized)

     15,050,000        78,500,000        14,400,000        7,000,000        130,350,000  

Net asset value per share

   $ 43.76      $ 41.02      $ 49.77      $ 37.51      $ 62.35  

1 Includes market value of securities out on loan of:

   $ 590,429      $ 64,721,996      $ 91,298,940      $ 1,192,096      $ 14,168,201  

2 Investments in securities include investment of cash collateral for securities loaned (see Schedule of Investments for additional information).

  

  

3 Includes market value of securities out on loan, which were sold and pending settlement, of:

   $ 5,904                              

 

See Notes to Financial Statements.

 

116   WisdomTree Trust


Statements of Assets and Liabilities (continued)

WisdomTree Trust

March 31, 2023

 

 

 

      WisdomTree
U.S. Quality
Growth Fund
     WisdomTree
U.S. SmallCap
Dividend Fund
     WisdomTree U.S.
SmallCap Fund
     WisdomTree
U.S. SmallCap
Quality Dividend
Growth Fund
     WisdomTree
U.S. Total
Dividend Fund
 

ASSETS:

              

Investments, at cost

   $ 2,550,231      $ 1,888,198,447      $ 609,054,084      $ 234,067,341      $ 884,994,497  

Investment in affiliates, at cost (Note 3)

            532,733        1,357,852                

Investments in securities, at value1,2 (Note 2)

     2,836,955        1,875,959,059        579,146,468        228,261,256        1,076,598,082  

Investment in affiliates, at value (Note 3)

            546,263        1,253,597                

Cash

     2,790        1,851,943        884,383        178,030        949,963  

Deposits at broker

                          125,000         

Receivables:

              

Investment securities sold3

            2,854,100        3,126,793                

Dividends

     260        3,159,768        418,831        190,882        1,526,066  

Securities lending income

            40,749        26,003        2,634        3,698  

Total Assets

     2,840,005        1,884,411,882        584,856,075        228,757,802        1,079,077,809  

LIABILITIES:

 

Payables:

 

Cash collateral received for securities loaned (Note 2)

            24,262,147        10,076,833        3,059,023        1,032,665  

Investment securities purchased

                   1,651,313                

Capital shares redeemed

            2,856,184        2,161,987                

Advisory fees (Note 3)

     630        605,369        198,416        73,362        253,391  

Service fees (Note 2)

     10        7,021        2,301        849        3,982  

Total Liabilities

     640        27,730,721        14,090,850        3,133,234        1,290,038  

NET ASSETS

   $ 2,839,365      $ 1,856,681,161      $ 570,765,225      $ 225,624,568      $ 1,077,787,771  

NET ASSETS:

              

Paid-in capital

   $ 2,552,390      $ 2,234,269,333      $ 684,289,304      $ 260,230,331      $ 994,525,567  

Total distributable earnings (loss)

     286,975        (377,588,172      (113,524,079      (34,605,763 )        83,262,204  

NET ASSETS

   $ 2,839,365      $ 1,856,681,161      $ 570,765,225      $ 225,624,568      $ 1,077,787,771  

Outstanding beneficial interest shares of $0.001 par value (unlimited number of shares authorized)

     100,000        65,000,000        13,200,000        5,425,000        17,800,000  

Net asset value per share

   $ 28.39      $ 28.56      $ 43.24      $ 41.59      $ 60.55  

1 Includes market value of securities out on loan of:

          $ 196,578,788      $ 29,749,603      $ 11,984,338      $ 3,745,884  

2 Investments in securities include investment of cash collateral for securities loaned (see Schedule of Investments for additional information).

  

  

3 Includes market value of securities out on loan, which were sold and pending settlement, of:

          $ 105,237      $ 70,878                

 

See Notes to Financial Statements.

 

WisdomTree Trust      117  


Statements of Assets and Liabilities (concluded)

WisdomTree Trust

March 31, 2023

 

 

 

      WisdomTree
U.S. Value Fund
 

ASSETS:

  

Investments, at cost

   $ 142,608,081  

Investments in securities, at value1,2 (Note 2)

     147,055,327  

Cash

     77,975  

Receivables:

  

Capital shares sold

     586,510  

Dividends

     152,472  

Securities lending income

     461  

Total Assets

     147,872,745  

LIABILITIES:

 

Payables:

 

Cash collateral received for securities loaned (Note 2)

     56,794  

Investment securities purchased

     586,969  

Advisory fees (Note 3)

     14,535  

Service fees (Note 2)

     533  

Total Liabilities

     658,831  

NET ASSETS

   $ 147,213,914  

NET ASSETS:

  

Paid-in capital

   $ 159,626,071  

Total distributable earnings (loss)

     (12,412,157

NET ASSETS

   $ 147,213,914  

Outstanding beneficial interest shares of $0.001 par value (unlimited number of shares authorized)

     2,510,000  

Net asset value per share

   $ 58.65  

1 Includes market value of securities out on loan of:

   $ 7,524,443  

2 Investments in securities include investment of cash collateral for securities loaned (see Schedule of Investments for additional information).

  

 

See Notes to Financial Statements.

 

118   WisdomTree Trust


Statements of Operations

WisdomTree Trust

For the Year Ended March 31, 2023

 

 

 

      WisdomTree
U.S. AI Enhanced
Value Fund
     WisdomTree
U.S. ESG Fund
     WisdomTree
U.S. Growth &
Momentum
Fund
     WisdomTree
U.S. High
Dividend Fund
     WisdomTree
U.S. LargeCap
Dividend Fund
 

INVESTMENT INCOME:

              

Dividends

   $ 10,638,719      $ 1,233,641      $ 18,483      $ 53,472,829      $ 101,454,750  

Dividends from affiliates (Note 3)

                          58,093        138,286  

Interest

            37                       

Non-cash dividends

                          28,182         

Securities lending income, net (Note 2)

     301,278        3,422        108        66,413        135,692  

Less: Foreign withholding taxes on dividends

                   (286      (3,118       

Total investment income

     10,939,997        1,237,100        18,305        53,622,399        101,728,728  

EXPENSES:

              

Advisory fees (Note 3)

     1,626,954        192,925        16,205        4,827,304        9,930,360  

Service fees (Note 2)

     18,838        3,032        130        55,895        156,048  

Total expenses

     1,645,792        195,957        16,335        4,883,199        10,086,408  

Expense waivers (Note 3)

                          (3,151      (4,431

Net expenses

     1,645,792        195,957        16,335        4,880,048        10,081,977  

Net investment income

     9,294,205        1,041,143        1,970        48,742,351        91,646,751  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

Net realized gain (loss) from:

              

Investment transactions

     (20,797,313      (3,768,058      (618,197      (41,384,570      (33,068,574

Investment transactions in affiliates (Note 3)

                          (405,453      (1,158,623

In-kind redemptions

     2,328,250        755,004        50,885        124,234,510        168,793,147  

Futures contracts

            (5,159                     

Foreign currency related transactions

                   14                

Net realized gain (loss)

     (18,469,063      (3,018,213      (567,298      82,444,487        134,565,950  

Net increase (decrease) in unrealized appreciation/depreciation:

              

Investment transactions

     (17,105,029      (5,117,955      139,961        (158,379,528      (330,137,168

Investment transactions in affiliates (Note 3)

                          (31,090      (19,045

Net increase (decrease) in unrealized appreciation/depreciation

     (17,105,029      (5,117,955      139,961        (158,410,618      (330,156,213

Net realized and unrealized loss on investments

     (35,574,092      (8,136,168      (427,337      (75,966,131      (195,590,263

NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS

   $ (26,279,887    $ (7,095,025    $ (425,367    $ (27,223,780    $ (103,943,512

 

See Notes to Financial Statements.

 

WisdomTree Trust      119  


Statements of Operations (continued)

WisdomTree Trust

For the Year Ended March 31, 2023

 

 

 

      WisdomTree
U.S. LargeCap
Fund
     WisdomTree
U.S. MidCap
Dividend Fund
     WisdomTree
U.S. MidCap
Fund
     WisdomTree
U.S. Multifactor
Fund
     WisdomTree
U.S. Quality
Dividend Growth
Fund
 

INVESTMENT INCOME:

              

Dividends

   $ 12,874,561      $ 102,195,368      $ 13,686,670      $ 4,549,247      $ 168,348,591  

Dividends from affiliates (Note 3)

     30,740        86,766        67,519                

Interest

                          268         

Securities lending income, net (Note 2)

     26,478        166,042        125,735        49,585        708,253  

Less: Foreign withholding taxes on dividends

            (37,613                     

Total investment income

     12,931,779        102,410,563        13,879,924        4,599,100        169,056,844  

EXPENSES:

              

Advisory fees (Note 3)

     508,008        12,047,797        2,802,317        641,594        19,683,053  

Service fees (Note 2)

     27,940        139,501        32,448        10,082        309,305  

Total expenses

     535,948        12,187,298        2,834,765        651,676        19,992,358  

Expense waivers (Note 3)

            (5,864      (2,932              

Net expenses

     535,948        12,181,434        2,831,833        651,676        19,992,358  

Net investment income

     12,395,831        90,229,129        11,048,091        3,947,424        149,064,486  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

Net realized gain (loss) from:

              

Investment transactions

     (33,558,489      (106,873,030      (4,760,476      (17,050,368      (164,531,570

Investment transactions in affiliates (Note 3)

     (46,675      442,018        (297,087              

In-kind redemptions

     22,486,263        237,279,360        14,484,841        6,097,707        561,406,864  

Futures contracts

                          118,514         

Net realized gain (loss)

     (11,118,901      130,848,348        9,427,278        (10,834,147      396,875,294  

Net increase (decrease) in unrealized appreciation/depreciation:

              

Investment transactions

     (53,656,880      (364,578,324      (80,519,705      (8,414,869      (444,753,271

Investment transactions in affiliates (Note 3)

     (48,957      (140,664      (140,044              

Net decrease in unrealized appreciation/depreciation

     (53,705,837      (364,718,988      (80,659,749      (8,414,869      (444,753,271

Net realized and unrealized loss on investments

     (64,824,738      (233,870,640      (71,232,471      (19,249,016      (47,877,977

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS

   $ (52,428,907    $ (143,641,511    $ (60,184,380    $ (15,301,592    $ 101,186,509  

 

See Notes to Financial Statements.

 

120   WisdomTree Trust


Statements of Operations (continued)

WisdomTree Trust

For the Year or Period Ended March 31, 2023

 

 

 

      WisdomTree
U.S. Quality
Growth Fund1
     WisdomTree
U.S. SmallCap
Dividend Fund
     WisdomTree
U.S. SmallCap
Fund
     WisdomTree
U.S. SmallCap
Quality Dividend
Growth Fund
     WisdomTree
U.S. Total
Dividend Fund
 

INVESTMENT INCOME:

              

Dividends

   $ 4,273      $ 60,871,433      $ 10,827,032      $ 6,959,543      $ 31,316,470  

Dividends from affiliates (Note 3)

            100,535        22,538                

Interest

                          1,024         

Securities lending income, net (Note 2)

            690,308        288,117        17,902        45,671  

Less: Foreign withholding taxes on dividends

            (30,805             (5,969      (3,452

Total investment income

     4,273        61,631,471        11,137,687        6,972,500        31,358,689  

EXPENSES:

              

Advisory fees (Note 3)

     1,633        6,968,114        2,378,021        830,413        3,001,071  

Service fees (Note 2)

     26        80,684        27,535        9,615        47,160  

Total expenses

     1,659        7,048,798        2,405,556        840,028        3,048,231  

Expense waivers (Note 3)

            (5,514      (1,733              

Net expenses

     1,659        7,043,284        2,403,823        840,028        3,048,231  

Net investment income

     2,614        54,588,187        8,733,864        6,132,472        28,310,458  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

Net realized gain (loss) from:

              

Investment transactions

     (2,363      (4,621,624      (19,620,207      (12,922,942      (23,760,546

Investment transactions in affiliates (Note 3)

            (762,679      (296,833              

In-kind redemptions

            8,535,552        33,703,297        11,585,578        64,838,326  

Futures contracts

                          (63,888       

Net realized gain (loss)

     (2,363      3,151,249        13,786,257        (1,401,252      41,077,780  

Net increase (decrease) in unrealized appreciation/depreciation:

              

Investment transactions

     286,724        (202,546,502      (78,740,960      (15,294,977      (103,960,735

Investment transactions in affiliates (Note 3)

            1,820        (104,255              

Net increase (decrease) in unrealized appreciation/depreciation

     286,724        (202,544,682      (78,845,215      (15,294,977      (103,960,735

Net realized and unrealized gain (loss) on investments

     284,361        (199,393,433      (65,058,958      (16,696,229      (62,882,955

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS

   $ 286,975      $ (144,805,246    $ (56,325,094    $ (10,563,757    $ (34,572,497

1 For the period December 15, 2022 (commencement of operations) through March 31, 2023.

  

 

See Notes to Financial Statements.

 

WisdomTree Trust      121  


Statements of Operations (concluded)

WisdomTree Trust

For the Year Ended March 31, 2023

 

 

 

      WisdomTree
U.S. Value Fund
 

INVESTMENT INCOME:

  

Dividends

   $ 2,468,918  

Dividends from affiliates (Note 3)

     4,942  

Securities lending income, net (Note 2)

     39,833  

Total investment income

     2,513,693  

EXPENSES:

  

Advisory fees (Note 3)

     140,852  

Service fees (Note 2)

     5,164  

Total expenses

     146,016  

Expense waivers (Note 3)

     (22

Net expenses

     145,994  

Net investment income

     2,367,699  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

Net realized gain (loss) from:

  

Investment transactions

     (11,484,198

Investment transactions in affiliates (Note 3)

     828  

In-kind redemptions

     8,218,262  

Net realized loss

     (3,265,108

Net decrease in unrealized appreciation/depreciation

     (2,246,805

Net realized and unrealized loss on investments

     (5,511,913

NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS

   $ (3,144,214

 

See Notes to Financial Statements.

 

122   WisdomTree Trust


Statements of Changes in Net Assets

WisdomTree Trust

 

 

 

 

     WisdomTree
U.S. AI Enhanced Value Fund
    WisdomTree
U.S. ESG Fund
    WisdomTree
U.S. Growth &
Momentum Fund
 
     For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2023
    For the Period
June 24, 2021*
through
March 31, 2022
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

     

Net investment income (loss)

  $ 9,294,205     $ 15,136,617     $ 1,041,143     $ 1,127,775     $ 1,970     $ (7,167

Net realized gain (loss) on investments and futures contracts

    (18,469,063     110,989,505       (3,018,213     14,734,123       (567,298     (1,068,369

Net increase (decrease) in unrealized appreciation/depreciation on investments

    (17,105,029     (82,660,701     (5,117,955     (5,774,969     139,961       (126,098

Net increase (decrease) in net assets resulting from operations

    (26,279,887     43,465,421       (7,095,025     10,086,929       (425,367     (1,201,634

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

    (9,454,072     (15,541,024     (1,008,693     (1,160,908     (1,984      

Tax return of capital

                            (400      

Total distributions to shareholders

    (9,454,072     (15,541,024     (1,008,693     (1,160,908     (2,384      

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

          364,669,874       2,078,530       24,008,059             16,954,907  

Cost of shares redeemed

    (60,535,501     (455,449,072     (3,095,268     (44,250,848     (1,182,106     (11,657,889

Net increase (decrease) in net assets resulting from capital share transactions

    (60,535,501     (90,779,198     (1,016,738     (20,242,789     (1,182,106     5,297,018  

Net Increase (Decrease) in Net Assets

    (96,269,460     (62,854,801     (9,120,456     (11,316,768     (1,609,857     4,095,384  

NET ASSETS:

 

Beginning of period

  $ 492,636,015     $ 555,490,816     $ 77,057,679     $ 88,374,447     $ 4,095,484     $ 100  

End of period

  $ 396,366,555     $ 492,636,015     $ 67,937,223     $ 77,057,679     $ 2,485,627     $ 4,095,484  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of period

    4,975,000       5,900,000       1,600,000       2,025,000       180,000       4  

Shares created

          3,575,000       50,000       500,000             640,000  

Shares redeemed

    (650,000     (4,500,000     (75,000     (925,000     (60,000     (460,004

Shares outstanding, end of period

    4,325,000       4,975,000       1,575,000       1,600,000       120,000       180,000  

*   Commencement of operations. The commencement of operations date is considered to be the date that the Fund began trading in the secondary market.

    

 

See Notes to Financial Statements.

 

WisdomTree Trust      123  


Statements of Changes in Net Assets (continued)

WisdomTree Trust

 

 

 

 

     WisdomTree
U.S. High Dividend Fund
    WisdomTree
U.S. LargeCap Dividend Fund
    WisdomTree
U.S. LargeCap Fund
 
     For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

     

Net investment income

  $ 48,742,351     $ 29,968,480     $ 91,646,751     $ 71,309,015     $ 12,395,831     $ 10,220,429  

Net realized gain (loss) on investments

    82,444,487       34,020,031       134,565,950       226,192,471       (11,118,901     62,532,483  

Net increase (decrease) in unrealized appreciation/depreciation on investments

    (158,410,618     86,294,447       (330,156,213     189,915,124       (53,705,837     (7,580,689

Net increase (decrease) in net assets resulting from operations

    (27,223,780     150,282,958       (103,943,512     487,416,610       (52,428,907     65,172,223  

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

    (52,764,847     (25,589,520     (94,641,498     (68,529,090     (12,389,635     (10,044,472

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

    983,982,222       138,112,763       663,360,233       622,081,915       108,501,573       307,846,850  

Cost of shares redeemed

    (591,853,425     (11,880,667     (421,607,267     (437,197,112     (82,001,123     (176,815,594

Net increase in net assets resulting from capital share transactions

    392,128,797       126,232,096       241,752,966       184,884,803       26,500,450       131,031,256  

Net Increase (Decrease) in Net Assets

    312,140,170       250,925,534       43,167,956       603,772,323       (38,318,092     186,159,007  

NET ASSETS:

 

Beginning of year

  $ 1,024,960,001     $ 774,034,467     $ 3,427,239,647     $ 2,823,467,324     $ 696,952,849     $ 510,793,842  

End of year

  $ 1,337,100,171     $ 1,024,960,001     $ 3,470,407,603     $ 3,427,239,647     $ 658,634,757     $ 696,952,849  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

    11,650,000       10,150,000       52,200,000       49,300,000 1       14,450,000       11,800,000  

Shares created

    11,400,000       1,650,000       10,800,000       9,750,000 1       2,500,000       6,300,000  

Shares redeemed

    (6,800,000     (150,000     (6,900,000     (6,850,000 )1       (1,900,000     (3,650,000

Shares outstanding, end of year

    16,250,000       11,650,000       56,100,000       52,200,000 1       15,050,000       14,450,000  

1 Shares were adjusted to reflect a 2:1 stock split effective December 23, 2021.

  

 

See Notes to Financial Statements.

 

124   WisdomTree Trust


Statements of Changes in Net Assets (continued)

WisdomTree Trust

 

 

 

 

     WisdomTree
U.S. MidCap Dividend Fund
    WisdomTree
U.S. MidCap Fund
    WisdomTree
U.S. Multifactor Fund
 
     For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

     

Net investment income

  $ 90,229,129     $ 70,558,159     $ 11,048,091     $ 10,342,875     $ 3,947,424     $ 2,443,274  

Net realized gain (loss) on investments and futures contracts

    130,848,348       262,415,278       9,427,278       90,711,596       (10,834,147     15,977,931  

Net increase (decrease) in unrealized appreciation/depreciation on investments

    (364,718,988     7,598,204       (80,659,749     (41,702,853     (8,414,869     (3,360,106

Net increase (decrease) in net assets resulting from operations

    (143,641,511     340,571,641       (60,184,380     59,351,618       (15,301,592     15,061,099  

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

    (92,020,134     (69,041,808     (10,959,568     (10,460,358     (3,948,786     (2,386,625

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

    1,051,013,414       742,558,113       68,005,567       301,475,820       101,414,445       116,237,028  

Cost of shares redeemed

    (805,947,349     (707,983,566     (91,842,306     (245,691,713     (43,549,334     (53,452,146

Net increase (decrease) in net assets resulting from capital share transactions

    245,066,065       34,574,547       (23,836,739     55,784,107       57,865,111       62,784,882  

Net Increase (Decrease) in Net Assets

    9,404,420       306,104,380       (94,980,687     104,675,367       38,614,733       75,459,356  

NET ASSETS:

 

Beginning of year

  $ 3,210,598,739     $ 2,904,494,359     $ 811,672,498     $ 706,997,131     $ 223,949,123     $ 148,489,767  

End of year

  $ 3,220,003,159     $ 3,210,598,739     $ 716,691,811     $ 811,672,498     $ 262,563,856     $ 223,949,123  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

    72,450,000       71,900,000       14,850,000       13,900,000       5,475,000       3,925,000  

Shares created

    25,100,000       17,050,000       1,400,000       5,500,000       2,675,000       2,900,000  

Shares redeemed

    (19,050,000     (16,500,000     (1,850,000     (4,550,000     (1,150,000     (1,350,000

Shares outstanding, end of year

    78,500,000       72,450,000       14,400,000       14,850,000       7,000,000       5,475,000  

 

See Notes to Financial Statements.

 

WisdomTree Trust      125  


Statements of Changes in Net Assets (continued)

WisdomTree Trust

 

 

 

 

     WisdomTree
U.S. Quality Dividend Growth Fund
    WisdomTree
U.S. Quality Growth
Fund
    WisdomTree
U.S. SmallCap Dividend Fund
 
     For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the Period
December 15, 2022*
through
March 31, 2023
    For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

   

Net investment income

  $ 149,064,486     $ 127,306,795     $ 2,614     $ 54,588,187     $ 49,803,105  

Net realized gain (loss) on investments

    396,875,294       586,169,172       (2,363     3,151,249       138,473,135  

Net increase (decrease) in unrealized appreciation/depreciation on investments

    (444,753,271     54,598,644       286,724       (202,544,682     (98,326,308

Net increase (decrease) in net assets resulting from operations

    101,186,509       768,074,611       286,975       (144,805,246     89,949,932  

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

    (154,296,995     (123,175,321           (54,457,954     (48,960,885

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

    3,232,420,927       2,834,445,980       2,552,390       217,678,287       380,148,570  

Cost of shares redeemed

    (2,085,719,771     (2,022,674,106     (100     (43,279,395     (369,415,022

Net increase in net assets resulting from capital share transactions

    1,146,701,156       811,771,874       2,552,290       174,398,892       10,733,548  

Net Increase (Decrease) in Net Assets

    1,093,590,670       1,456,671,164       2,839,265       (24,864,308     51,722,595  

NET ASSETS:

 

Beginning of period

  $ 7,033,318,452     $ 5,576,647,288     $ 100     $ 1,881,545,469     $ 1,829,822,874  

End of period

  $ 8,126,909,122     $ 7,033,318,452     $ 2,839,365     $ 1,856,681,161     $ 1,881,545,469  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of period

    110,650,000       97,600,000       4       59,050,000       58,850,000  

Shares created

    53,700,000       44,950,000       100,000       7,450,000       11,850,000  

Shares redeemed

    (34,000,000     (31,900,000     (4     (1,500,000     (11,650,000

Shares outstanding, end of period

    130,350,000       110,650,000       100,000       65,000,000       59,050,000  

*   Commencement of operations. The commencement of operations date is considered to be the date that the Fund began trading in the secondary market.

    

 

See Notes to Financial Statements.

 

126   WisdomTree Trust


Statements of Changes in Net Assets (continued)

WisdomTree Trust

 

 

 

 

     WisdomTree
U.S. SmallCap Fund
   

WisdomTree
U.S. SmallCap Quality Dividend

Growth Fund

    WisdomTree
U.S. Total Dividend Fund
 
     For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

     

Net investment income

  $ 8,733,864     $ 9,482,851     $ 6,132,472     $ 5,138,956     $ 28,310,458     $ 22,786,482  

Net realized gain (loss) on investments and futures contracts

    13,786,257       68,605,988       (1,401,252     15,800,698       41,077,780       74,857,941  

Net increase (decrease) in unrealized appreciation/depreciation on investments

    (78,845,215     (63,418,077     (15,294,977     (22,533,592     (103,960,735     49,959,306  

Net increase (decrease) in net assets resulting from operations

    (56,325,094     14,670,762       (10,563,757     (1,593,938     (34,572,497     147,603,729  

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

    (8,368,109     (10,226,320     (6,156,770     (5,126,380     (30,260,035     (21,438,300

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

    160,150,131       240,692,318       86,682,667       86,414,103       222,869,091       224,200,288  

Cost of shares redeemed

    (217,424,064     (161,731,595     (69,170,357     (42,593,588     (160,877,872     (145,267,142

Net increase (decrease) in net assets resulting from capital share transactions

    (57,273,933     78,960,723       17,512,310       43,820,515       61,991,219       78,933,146  

Net Increase (Decrease) in Net Assets

    (121,967,136     83,405,165       791,783       37,100,197       (2,841,313     205,098,575  

NET ASSETS:

 

Beginning of year

  $ 692,732,361     $ 609,327,196     $ 224,832,785     $ 187,732,588     $ 1,080,629,084     $ 875,530,509  

End of year

  $ 570,765,225     $ 692,732,361     $ 225,624,568     $ 224,832,785     $ 1,077,787,771     $ 1,080,629,084  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

    14,450,000       12,900,000       5,035,000       4,085,000       16,750,000       15,500,000 1  

Shares created

    3,650,000       4,850,000       2,080,000       1,880,000       3,650,000       3,550,000 1  

Shares redeemed

    (4,900,000     (3,300,000     (1,690,000     (930,000     (2,600,000     (2,300,000 )1  

Shares outstanding, end of year

    13,200,000       14,450,000       5,425,000       5,035,000       17,800,000       16,750,000 1  

1 Shares were adjusted to reflect a 2:1 stock split effective December 23, 2021.

  

 

See Notes to Financial Statements.

 

WisdomTree Trust      127  


Statements of Changes in Net Assets (concluded)

WisdomTree Trust

 

 

 

 

     WisdomTree
U.S. Value Fund
 
     For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

Net investment income

  $ 2,367,699     $ 1,471,659  

Net realized gain (loss) on investments

    (3,265,108     7,616,832  

Net decrease in unrealized appreciation/depreciation on investments

    (2,246,805     (1,931,528

Net increase (decrease) in net assets resulting from operations

    (3,144,214     7,156,963  

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

    (2,373,350     (1,432,409

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

    75,822,780       79,294,095  

Cost of shares redeemed

    (36,805,721     (29,744,857

Net increase in net assets resulting from capital share transactions

    39,017,059       49,549,238  

Net Increase in Net Assets

    33,499,495       55,273,792  

NET ASSETS:

 

Beginning of year

  $ 113,714,419     $ 58,440,627  

End of year

  $ 147,213,914     $ 113,714,419  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

    1,850,000       1,040,000 1  

Shares created

    1,290,000       1,290,000 1  

Shares redeemed

    (630,000     (480,000 )1  

Shares outstanding, end of year

    2,510,000       1,850,000 1  

1 Shares were adjusted to reflect a 2:1 stock split effective June 10, 2021.

  

 

See Notes to Financial Statements.

 

128   WisdomTree Trust


Financial Highlights

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree U.S. AI Enhanced Value Fund   For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022^
    For the
Year Ended
March 31, 2021^
    For the
Year Ended
March 31, 2020^
    For the
Year Ended
March 31, 2019^
 

Net asset value, beginning of year

  $ 99.02     $ 94.15     $ 64.64     $ 85.52     $ 84.43  

Investment operations:

 

Net investment income1

    2.01       2.70       2.67       3.11       3.06  

Net realized and unrealized gain (loss)

    (7.31     4.95       29.49       (20.83     1.05  

Total from investment operations

    (5.30     7.65       32.16       (17.72     4.11  

Dividends and distributions to shareholders:

 

Net investment income

    (2.07     (2.78     (2.65     (3.16     (2.96

Capital gains

                            (0.06

Total dividends and distributions to shareholders

    (2.07     (2.78     (2.65     (3.16     (3.02

Net asset value, end of year

  $ 91.65     $ 99.02     $ 94.15     $ 64.64     $ 85.52  

TOTAL RETURN2

    (5.25 )%      8.19     50.69     (21.49 )%      4.99

RATIOS/SUPPLEMENTAL DATA:

 

Net assets, end of year (000’s omitted)

  $ 396,367     $ 492,636     $ 555,491     $ 543,010     $ 791,069  

Ratios to average net assets3 of:

 

Expenses4

    0.38     0.38     0.38     0.38     0.38

Net investment income

    2.17     2.76     3.40     3.61     3.57

Portfolio turnover rate5

    150 %6      96 %6,7      47     46     32

 

           
WisdomTree U.S. ESG Fund   For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 20208
    For the
Year Ended
March 31, 20198
 

Net asset value, beginning of year

  $ 48.16     $ 43.64     $ 27.48     $ 32.29     $ 31.09  

Investment operations:

 

Net investment income1

    0.65       0.57       0.47       0.64       0.60  

Net realized and unrealized gain (loss)

    (5.06     4.55       16.16       (4.62     1.29  

Total from investment operations

    (4.41     5.12       16.63       (3.98     1.89  

Dividends to shareholders:

 

Net investment income

    (0.62     (0.60     (0.47     (0.83     (0.69

Net asset value, end of year

  $ 43.13     $ 48.16     $ 43.64     $ 27.48     $ 32.29  

TOTAL RETURN2

    (9.07 )%      11.73     60.80     (12.73 )%      6.34

RATIOS/SUPPLEMENTAL DATA:

 

Net assets, end of year (000’s omitted)

  $ 67,937     $ 77,058     $ 88,374     $ 72,824     $ 113,025  

Ratios to average net assets of:

 

Expenses

    0.28     0.28     0.28     0.28     0.28

Net investment income

    1.51     1.20     1.29     1.90     1.89

Portfolio turnover rate5

    46     69     78     56     22
^ 

The information reflects the investment objective and strategy of the WisdomTree U.S. Dividend ex-Financials Fund through January 17, 2022 and the investment objective and strategy of the WisdomTree U.S. AI Enhanced Value Fund thereafter.

 

1 

Based on average shares outstanding.

 

2 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. For the periods in which the investment advisor waived advisory fees for the WisdomTree U.S. AI Enhanced Value Fund, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

3 

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

4 

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

5 

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

6 

The increase in the portfolio turnover rate was primarily a result of the change in investment objective and strategy on January 18, 2022.

 

7 

On January 7, 2022, Voya Investment Management Co., LLC replaced Mellon Investments Corporation as sub-advisor to the Fund.

 

8 

The information reflects the investment objective and strategy of the WisdomTree U.S. Total Market Fund through March 16, 2020 and the investment objective and strategy of the WisdomTree U.S. ESG Fund thereafter.

 

See Notes to Financial Statements.

 

WisdomTree Trust      129  


Financial Highlights (continued)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree U.S. Growth & Momentum Fund   For the
Year Ended
March 31, 2023
    For the Period
June 24, 2021*
through
March 31, 2022
 

Net asset value, beginning of period

  $ 22.75     $ 25.66  

Investment operations:

 

Net investment income (loss)1

    0.01       (0.03

Net realized and unrealized loss

    (2.03     (2.88

Total from investment operations

    (2.02     (2.91

Dividends and distributions to shareholders:

   

Net investment income

    (0.02      

Tax return of capital

    (0.00 )2       

Total dividends and distributions to shareholders

    (0.02      

Net asset value, end of period

  $ 20.71     $ 22.75  

TOTAL RETURN3

    (8.89 )%      (11.34 )% 

RATIOS/SUPPLEMENTAL DATA:

 

Net assets, end of period (000’s omitted)

  $ 2,486     $ 4,095  

Ratios to average net assets of:

 

Expenses

    0.55     0.55 %4 

Net investment income (loss)

    0.07     (0.15 )%4 

Portfolio turnover rate5,6

    520     254

 

           
WisdomTree U.S. High Dividend Fund   For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

  $ 87.98     $ 76.26     $ 56.58     $ 72.49     $ 68.11  

Investment operations:

 

Net investment income1

    3.26       2.88       2.71       2.65       2.49  

Net realized and unrealized gain (loss)

    (5.45     11.30       19.94       (15.81     4.28  

Total from investment operations

    (2.19     14.18       22.65       (13.16     6.77  

Dividends to shareholders:

 

Net investment income

    (3.51     (2.46     (2.97     (2.75     (2.39

Net asset value, end of year

  $ 82.28     $ 87.98     $ 76.26     $ 56.58     $ 72.49  

TOTAL RETURN3

    (2.49 )%      18.96     40.97     (18.99 )%      10.15

RATIOS/SUPPLEMENTAL DATA:

 

Net assets, end of year (000’s omitted)

  $ 1,337,100     $ 1,024,960     $ 774,034     $ 678,935     $ 953,276  

Ratios to average net assets7 of:

 

Expenses8

    0.38     0.38     0.38     0.38     0.38

Net investment income

    3.84     3.56     4.13     3.63     3.55

Portfolio turnover rate5

    47     38     43     39     20
* 

Commencement of operations. The commencement of operations date is considered to be the date that the Fund began trading in the secondary market.

 

1 

Based on average shares outstanding.

 

2 

Amount represents less than $0.005.

 

3 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. For the periods in which the investment advisor waived advisory fees for the WisdomTree U.S. High Dividend Fund, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

4 

Annualized.

 

5 

Portfolio turnover rate is not annualized for fiscal periods less than one year and excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

6 

The Fund’s momentum style investment strategy, which emphasizes investing in securities that have had higher recent price performance compared to other securities, may result in a high portfolio turnover rate. Higher portfolio turnover may result in the Fund paying higher levels of transaction costs and the distribution of additional capital gains, which generate greater tax liabilities for shareholders.

 

7 

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

8 

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

See Notes to Financial Statements.

 

130   WisdomTree Trust


Financial Highlights (continued)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree U.S. LargeCap Dividend Fund   For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 20221
    For the
Year Ended
March 31, 20211
    For the
Year Ended
March 31, 20201
    For the
Year Ended
March 31, 20191
 

Net asset value, beginning of year

  $ 65.66     $ 57.27     $ 40.47     $ 47.11     $ 44.25  

Investment operations:

 

Net investment income2

    1.59       1.42       1.36       1.36       1.27  

Net realized and unrealized gain (loss)

    (3.74     8.33       16.79       (6.64     2.83  

Total from investment operations

    (2.15     9.75       18.15       (5.28     4.10  

Dividends to shareholders:

 

Net investment income

    (1.65     (1.36     (1.35     (1.36     (1.24

Net asset value, end of year

  $ 61.86     $ 65.66     $ 57.27     $ 40.47     $ 47.11  

TOTAL RETURN3

    (3.22 )%      17.16     45.40     (11.62 )%      9.44

RATIOS/SUPPLEMENTAL DATA:

 

Net assets, end of year (000’s omitted)

  $ 3,470,408     $ 3,427,240     $ 2,823,467     $ 1,849,693     $ 2,034,965  

Ratios to average net assets4 of:

 

Expenses5

    0.28     0.28     0.28     0.28     0.28

Net investment income

    2.58     2.28     2.73     2.76     2.79

Portfolio turnover rate6

    20     19     20     13     11

 

           
WisdomTree U.S. LargeCap Fund   For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

  $ 48.23     $ 43.29     $ 28.10     $ 31.77     $ 30.30  

Investment operations:

 

Net investment income2

    0.84       0.78       0.73       0.73       0.60  

Net realized and unrealized gain (loss)

    (4.48     4.92       15.19       (3.72     1.46  

Total from investment operations

    (3.64     5.70       15.92       (2.99     2.06  

Dividends to shareholders:

 

Net investment income

    (0.83     (0.76     (0.73     (0.68     (0.59

Net asset value, end of year

  $ 43.76     $ 48.23     $ 43.29     $ 28.10     $ 31.77  

TOTAL RETURN3

    (7.42 )%      13.19     57.11     (9.65 )%      6.93

RATIOS/SUPPLEMENTAL DATA:

 

Net assets, end of year (000’s omitted)

  $ 658,635     $ 696,953     $ 510,794     $ 341,423     $ 239,851  

Ratios to average net assets4 of:

 

Expenses

    0.08     0.08     0.08     0.08 %5      0.28 %5 

Net investment income

    1.95     1.65     2.00     2.16     1.94

Portfolio turnover rate6

    22     22     21     22     14
1 

Per share amounts were adjusted to reflect a 2:1 stock split effective December 23, 2021.

 

2 

Based on average shares outstanding.

 

3 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. For the periods in which the investment advisor waived advisory fees, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

4 

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

5 

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

6 

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

See Notes to Financial Statements.

 

WisdomTree Trust      131  


Financial Highlights (continued)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree U.S. MidCap Dividend Fund   For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

  $ 44.31     $ 40.40     $ 24.19     $ 35.76     $ 34.11  

Investment operations:

 

Net investment income1

    1.19       0.99       0.80       1.01       0.82  

Net realized and unrealized gain (loss)

    (3.27     3.89       16.24       (11.56     1.61  

Total from investment operations

    (2.08     4.88       17.04       (10.55     2.43  

Dividends to shareholders:

 

Net investment income

    (1.21     (0.97     (0.83     (1.02     (0.78

Net asset value, end of year

  $ 41.02     $ 44.31     $ 40.40     $ 24.19     $ 35.76  

TOTAL RETURN2

    (4.65 )%      12.17     71.52     (30.28 )%      7.21

RATIOS/SUPPLEMENTAL DATA:

 

Net assets, end of year (000’s omitted)

  $ 3,220,003     $ 3,210,599     $ 2,904,494     $ 2,485,261     $ 3,733,683  

Ratios to average net assets3 of:

 

Expenses4

    0.38     0.38     0.38     0.38     0.38

Net investment income

    2.85     2.31     2.55     2.84     2.34

Portfolio turnover rate5

    40     38     57     33     27

 

           
WisdomTree U.S. MidCap Fund   For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

  $ 54.66     $ 50.86     $ 26.44     $ 39.30     $ 38.63  

Investment operations:

 

Net investment income1

    0.75       0.72       0.56       0.62       0.53  

Net realized and unrealized gain (loss)

    (4.90     3.81       24.45       (12.83     0.68  

Total from investment operations

    (4.15     4.53       25.01       (12.21     1.21  

Dividends to shareholders:

 

Net investment income

    (0.74     (0.73     (0.59     (0.65     (0.54

Net asset value, end of year

  $ 49.77     $ 54.66     $ 50.86     $ 26.44     $ 39.30  

TOTAL RETURN2

    (7.50 )%      8.93     95.30     (31.45 )%      3.22

RATIOS/SUPPLEMENTAL DATA:

 

Net assets, end of year (000’s omitted)

  $ 716,692     $ 811,672     $ 706,997     $ 560,609     $ 1,098,311  

Ratios to average net assets3 of:

 

Expenses4

    0.38     0.38     0.38     0.38     0.38

Net investment income

    1.50     1.34     1.49     1.58     1.34

Portfolio turnover rate5

    40     50     50     41     36
1 

Based on average shares outstanding.

 

2 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. For the periods in which the investment advisor waived advisory fees, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

3 

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

4 

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

5 

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

See Notes to Financial Statements.

 

132   WisdomTree Trust


Financial Highlights (continued)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree U.S. Multifactor Fund   For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

  $ 40.90     $ 37.83     $ 24.58     $ 28.98     $ 27.91  

Investment operations:

 

Net investment income1

    0.65       0.63       0.39       0.59       0.47  

Net realized and unrealized gain (loss)

    (3.40     3.03       13.26       (4.43     0.97  

Total from investment operations

    (2.75     3.66       13.65       (3.84     1.44  

Dividends to shareholders:

 

Net investment income

    (0.64     (0.59     (0.40     (0.56     (0.37

Net asset value, end of year

  $ 37.51     $ 40.90     $ 37.83     $ 24.58     $ 28.98  

TOTAL RETURN2

    (6.68 )%      9.68     55.76     (13.43 )%      5.25

RATIOS/SUPPLEMENTAL DATA:

 

Net assets, end of year (000’s omitted)

  $ 262,564     $ 223,949     $ 148,490     $ 141,308     $ 114,481  

Ratios to average net assets of:

 

Expenses

    0.28     0.28     0.28     0.28 %3,4      0.28 %3,4 

Net investment income

    1.72     1.58     1.21     1.94 %3      1.65 %3 

Portfolio turnover rate5

    102     152     147     145     179

 

           
WisdomTree U.S. Quality Dividend Growth Fund   For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

  $ 63.56     $ 57.14     $ 38.85     $ 43.04     $ 40.32  

Investment operations:

 

Net investment income1

    1.28       1.22       1.07       1.09       0.97  

Net realized and unrealized gain (loss)

    (1.17     6.37       18.27       (4.21     2.71  

Total from investment operations

    0.11       7.59       19.34       (3.12     3.68  

Dividends and distributions to shareholders:

 

Net investment income

    (1.32     (1.17     (1.05     (1.07     (0.93

Capital gains

                            (0.03

Total dividends and distributions to shareholders

    (1.32     (1.17     (1.05     (1.07     (0.96

Net asset value, end of year

  $ 62.35     $ 63.56     $ 57.14     $ 38.85     $ 43.04  

TOTAL RETURN2

    0.29     13.36     50.24     (7.52 )%      9.25

RATIOS/SUPPLEMENTAL DATA:

 

Net assets, end of year (000’s omitted)

  $ 8,126,909     $ 7,033,318     $ 5,576,647     $ 2,723,483     $ 2,780,361  

Ratios to average net assets of:

 

Expenses

    0.28     0.28     0.28     0.28     0.28

Net investment income

    2.12     1.98     2.15     2.43     2.33

Portfolio turnover rate5

    28     30     30     41     29
1 

Based on average shares outstanding.

 

2 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. For the periods in which the investment advisor waived advisory fees for the WisdomTree U.S. Multifactor Fund, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

3 

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

4 

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

5 

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

See Notes to Financial Statements.

 

WisdomTree Trust      133  


Financial Highlights (continued)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree U.S. Quality Growth Fund   For the Period
December 15, 2022*
through
March 31, 2023
 

Net asset value, beginning of period

  $ 25.11  

Investment operations:

 

Net investment income1

    0.03  

Net realized and unrealized gain

    3.25  

Total from investment operations

    3.28  

Net asset value, end of period

  $ 28.39  

TOTAL RETURN2

    13.06

RATIOS/SUPPLEMENTAL DATA:

 

Net assets, end of period (000’s omitted)

  $ 2,839  

Ratios to average net assets of:

 

Expenses

    0.28 %3 

Net investment income

    0.45 %3 

Portfolio turnover rate4

    1

 

           
WisdomTree U.S. SmallCap Dividend Fund   For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

  $ 31.86     $ 31.09     $ 18.11     $ 27.54     $ 27.43  

Investment operations:

 

Net investment income1

    0.88       0.85       0.66       0.79       0.82  

Net realized and unrealized gain (loss)

    (3.31     0.76       12.99       (9.40     0.08  

Total from investment operations

    (2.43     1.61       13.65       (8.61     0.90  

Dividends to shareholders:

 

Net investment income

    (0.87     (0.84     (0.67     (0.82     (0.79

Net asset value, end of year

  $ 28.56     $ 31.86     $ 31.09     $ 18.11     $ 27.54  

TOTAL RETURN2

    (7.59 )%      5.18     76.76     (32.22 )%      3.25

RATIOS/SUPPLEMENTAL DATA:

 

Net assets, end of year (000’s omitted)

  $ 1,856,681     $ 1,881,545     $ 1,829,823     $ 1,316,919     $ 2,087,705  

Ratios to average net assets5 of:

 

Expenses6

    0.38     0.38     0.38     0.38     0.38

Net investment income

    2.98     2.66     2.78     2.94     2.91

Portfolio turnover rate4

    38     39     53     50     26
* 

Commencement of operations. The commencement of operations date is considered to be the date that the Fund began trading in the secondary market.

 

1 

Based on average shares outstanding.

 

2 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. For the periods in which the investment advisor waived advisory fees for the WisdomTree U.S. SmallCap Dividend Fund, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

3 

Annualized.

 

4 

Portfolio turnover rate is not annualized for fiscal periods less than one year and excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

5 

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

6 

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

See Notes to Financial Statements.

 

134   WisdomTree Trust


Financial Highlights (continued)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree U.S. SmallCap Fund   For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

  $ 47.94     $ 47.23     $ 22.38     $ 36.08     $ 35.70  

Investment operations:

 

Net investment income1

    0.62       0.73       0.44       0.51       0.58  

Net realized and unrealized gain (loss)

    (4.73     0.78       24.85       (13.66     0.38  

Total from investment operations

    (4.11     1.51       25.29       (13.15     0.96  

Dividends to shareholders:

 

Net investment income

    (0.59     (0.80     (0.44     (0.55     (0.58

Net asset value, end of year

  $ 43.24     $ 47.94     $ 47.23     $ 22.38     $ 36.08  

TOTAL RETURN2

    (8.51 )%      3.11     113.74     (36.87 )%      2.72

RATIOS/SUPPLEMENTAL DATA:

 

Net assets, end of year (000’s omitted)

  $ 570,765     $ 692,732     $ 609,327     $ 419,676     $ 736,098  

Ratios to average net assets3 of:

 

Expenses4

    0.38     0.38     0.38     0.38     0.38

Net investment income

    1.40     1.47     1.33     1.45     1.56

Portfolio turnover rate5

    51     54     56     55     45

 

           
WisdomTree U.S. SmallCap Quality Dividend
Growth Fund
  For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

  $ 44.65     $ 45.96     $ 25.02     $ 34.70     $ 34.26  

Investment operations:

 

Net investment income1

    1.17       1.14       0.94       0.80       0.88  

Net realized and unrealized gain (loss)

    (3.06     (1.32     20.92       (9.68     0.41  

Total from investment operations

    (1.89     (0.18     21.86       (8.88     1.29  

Dividends to shareholders:

 

Net investment income

    (1.17     (1.13     (0.92     (0.80     (0.85

Net asset value, end of year

  $ 41.59     $ 44.65     $ 45.96     $ 25.02     $ 34.70  

TOTAL RETURN2

    (4.14 )%      (0.45 )%      88.65     (26.22 )%      3.81

RATIOS/SUPPLEMENTAL DATA:

 

Net assets, end of year (000’s omitted)

  $ 225,625     $ 224,833     $ 187,733     $ 73,802     $ 119,699  

Ratios to average net assets of:

 

Expenses

    0.38     0.38     0.38     0.38     0.38

Net investment income

    2.81     2.49     2.67     2.29     2.47

Portfolio turnover rate5

    51     60     83     51     42
1 

Based on average shares outstanding.

 

2 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. For the periods in which the investment advisor waived advisory fees for the WisdomTree U.S. SmallCap Fund, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

3 

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

4 

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

5 

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

See Notes to Financial Statements.

 

WisdomTree Trust      135  


Financial Highlights (concluded)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree U.S. Total Dividend Fund   For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 20221
    For the
Year Ended
March 31, 20211
    For the
Year Ended
March 31, 20201
    For the
Year Ended
March 31, 20191
 

Net asset value, beginning of year

  $ 64.52     $ 56.49     $ 39.19     $ 47.31     $ 44.56  

Investment operations:

 

Net investment income2

    1.60       1.43       1.33       1.38       1.28  

Net realized and unrealized gain (loss)

    (3.86     7.94       17.30       (8.13     2.71  

Total from investment operations

    (2.26     9.37       18.63       (6.75     3.99  

Dividends to shareholders:

 

Net investment income

    (1.71     (1.34     (1.33     (1.37     (1.24

Net asset value, end of year

  $ 60.55     $ 64.52     $ 56.49     $ 39.19     $ 47.31  

TOTAL RETURN3

    (3.44 )%      16.73     48.15     (14.75 )%      9.10

RATIOS/SUPPLEMENTAL DATA:

 

Net assets, end of year (000’s omitted)

  $ 1,077,788     $ 1,080,629     $ 875,531     $ 634,956     $ 648,103  

Ratios to average net assets of:

 

Expenses

    0.28     0.28     0.28     0.28 %4,5      0.28 %4,5 

Net investment income

    2.64     2.33     2.73     2.82 %4      2.78 %4 

Portfolio turnover rate6

    19     22     22     16     11

 

           
WisdomTree U.S. Value Fund   For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 20227
    For the
Year Ended
March 31, 20217
    For the
Year Ended
March 31, 20207
    For the
Year Ended
March 31, 20197
 

Net asset value, beginning of year

  $ 61.47     $ 56.19     $ 32.52     $ 42.35     $ 40.43  

Investment operations:

 

Net investment income2

    1.17       1.08       0.76       0.76       0.72  

Net realized and unrealized gain (loss)

    (2.83     5.19       23.79       (9.88     1.94  

Total from investment operations

    (1.66     6.27       24.55       (9.12     2.66  

Dividends to shareholders:

 

Net investment income

    (1.16     (0.99     (0.88     (0.71     (0.74

Net asset value, end of year

  $ 58.65     $ 61.47     $ 56.19     $ 32.52     $ 42.35  

TOTAL RETURN3

    (2.54 )%      11.16     76.07     (21.86 )%      6.70

RATIOS/SUPPLEMENTAL DATA:

 

Net assets, end of year (000’s omitted)

  $ 147,214     $ 113,714     $ 58,441     $ 61,795     $ 38,113  

Ratios to average net assets of:

 

Expenses

    0.12 %4,5      0.30 %8      0.38     0.38     0.38

Net investment income

    2.02 %4      1.77     1.76     1.75     1.73

Portfolio turnover rate6

    66     62     59     101     54
1 

Per share amounts were adjusted to reflect a 2:1 stock split effective December 23, 2021.

 

2 

Based on average shares outstanding.

 

3 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. For the periods in which the investment advisor waived advisory fees, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

4 

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

5 

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

6 

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

7 

Per share amounts were adjusted to reflect a 2:1 stock split effective June 10, 2021.

 

8 

Prior to January 3, 2022, the Fund’s annual advisory fee rate was 0.38% and, thereafter, was reduced to 0.12% per annum.

 

See Notes to Financial Statements.

 

136   WisdomTree Trust


Notes to Financial Statements

 

1. ORGANIZATION

WisdomTree Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust was established as a Delaware statutory trust on December 15, 2005 and is authorized to have multiple series of portfolios (each a “Fund”, collectively, the “Funds”). These notes relate only to the Funds listed below. In accordance with Accounting Standards Codification Topic 946, Financial Services-Investment Companies, each Fund listed below qualifies as an investment company and is applying the accounting and reporting guidance for investment companies.

 

   
Fund    Commencement
of Operations
 

WisdomTree U.S. AI Enhanced Value Fund (“U.S. AI Enhanced Value Fund”)

     June 16, 2006  

WisdomTree U.S. ESG Fund (“U.S. ESG Fund”)

     February 23, 2007  

WisdomTree U.S. Growth & Momentum Fund (“U.S. Growth & Momentum Fund”)

     June 24, 2021  

WisdomTree U.S. High Dividend Fund (“U.S. High Dividend Fund”)

     June 16, 2006  

WisdomTree U.S. LargeCap Dividend Fund (“U.S. LargeCap Dividend Fund”)

     June 16, 2006  

WisdomTree U.S. LargeCap Fund (“U.S. LargeCap Fund”)

     February 23, 2007  

WisdomTree U.S. MidCap Dividend Fund (“U.S. MidCap Dividend Fund”)

     June 16, 2006  

WisdomTree U.S. MidCap Fund (“U.S. MidCap Fund”)

     February 23, 2007  

WisdomTree U.S. Multifactor Fund (“U.S. Multifactor Fund”)

     June 29, 2017  

WisdomTree U.S. Quality Dividend Growth Fund (“U.S. Quality Dividend Growth Fund”)

     May 22, 2013  

WisdomTree U.S. Quality Growth Fund (“U.S. Quality Growth Fund”)

     December 15, 2022  

WisdomTree U.S. SmallCap Dividend Fund (“U.S. SmallCap Dividend Fund”)

     June 16, 2006  

WisdomTree U.S. SmallCap Fund (“U.S. SmallCap Fund”)

     February 23, 2007  

WisdomTree U.S. SmallCap Quality Dividend Growth Fund (“U.S. SmallCap Quality Dividend Growth Fund”)

     July 25, 2013  

WisdomTree U.S. Total Dividend Fund (“U.S. Total Dividend Fund”)

     June 16, 2006  

WisdomTree U.S. Value Fund (“U.S. Value Fund”)

     February 23, 2007  

Each Fund, except the U.S. AI Enhanced Value Fund, U.S. ESG Fund and U.S. Value Fund, seeks to track the price and yield performance, before fees and expenses, of a particular index (“Index”) developed by WisdomTree, Inc. (“WisdomTree”) or an Index developed by a third party. The U.S. AI Enhanced Value Fund and the U.S. Value Fund are actively managed using a model-based approach seeking income and capital appreciation. The U.S. ESG Fund is actively managed using a model-based approach seeking capital appreciation. WisdomTree is the parent company of WisdomTree Asset Management, Inc. (“WTAM”), the investment adviser to each Fund and the Trust. “WisdomTree” is a registered trademark of WisdomTree and has been licensed for use by the Trust. Each Fund described herein is considered to be non-diversified as defined under the 1940 Act.

In the normal course of business, the Funds may enter into contracts that contain a variety of representations or that provide indemnification for certain liabilities. The Funds’ maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Funds have not had prior claims or losses pursuant to these contracts and believe such exposure to be remote.

2. SIGNIFICANT ACCOUNTING POLICIES

The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (the “Codification”) is the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal laws are also sources of authoritative GAAP for SEC registrants.

The following is a summary of significant accounting policies followed by the Funds:

Use of Estimates — The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in the net assets from operations during the reporting period. Actual results could differ from those estimates.

Investment Valuation — The net asset value (“NAV”) of each Fund’s shares is calculated each day a Fund is open for business as of the regularly scheduled close of regular trading on the New York Stock Exchange, normally 4:00 p.m. Eastern time (the “NAV Calculation Time”). NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding. Each Fund issues and redeems shares at NAV only in large blocks of shares known as creation units, which only certain institutions (e.g., broker-dealers) may purchase or redeem. Shares of each Fund are listed on a national securities exchange and trade at market

 

WisdomTree Trust      137  


Notes to Financial Statements (continued)

 

prices. Most investors will buy and sell shares in the secondary market through brokers. Because Fund shares trade at market prices rather than NAV, shares may trade at a price greater than NAV or less than NAV. In calculating each Fund’s NAV, investments are valued under policies approved by the Board of Trustees of the Trust (the “Board of Trustees”). Equity securities (including preferred stock) traded on any recognized U.S. or non-U.S. exchange are valued at the last sale price or official closing price on the exchange on which they are principally traded. Unlisted equity securities (including preferred stock) are valued at the last sale price or, if no sale price is available, at the mean between the highest bid and lowest ask price. Each Fund may invest in money market funds which are valued at their NAV per share and exchange-traded funds (“ETFs” or “ETF”) or exchange-traded notes (“ETNs” or “ETN”) which are valued at their last sale or official closing price on the exchange on which they are principally traded or at their NAV per share in instances where the ETF or ETN has not traded on its principal exchange. Futures contracts generally are valued at the settlement price, the price at which a futures contract settles once a given trading day has ended, on the primary exchange on which they trade.

Pursuant to Board-approved valuation procedures established by the Trust and WTAM, the Board has appointed WTAM as the Funds’ valuation designee (the “Valuation Designee”) to perform all fair valuations of the Funds’ portfolio investments, subject to the Board’s oversight. As the Valuation Designee, WTAM has established procedures for its fair valuation of a Fund’s portfolio investments. These procedures address, among other things, determining when market quotations are not readily available or reliable and the methodologies to be used for determining the fair value of investments, as well as the use and oversight of third-party pricing services for fair valuation. The Valuation Designee is comprised of senior representatives of WTAM and reports to the Board of Trustees on a quarterly basis. In the event that a financial instrument cannot be valued based upon a price from the exchange or system on which it is principally traded, independent pricing service provider or broker-dealer quotation, or such prices are deemed to not reflect current market value, the Valuation Designee may value the financial instrument in good faith under the policies and procedures approved by the Board of Trustees based on current facts and circumstances. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations, securities whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next NAV Calculation Time that may materially affect the value of a Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair value pricing is employed, the prices of securities used by a Fund to calculate its NAV may differ from quoted or published prices for the same securities.

Fair Value Measurement — In accordance with Codification Topic 820 (“ASC 820”), Fair Value Measurements and Disclosures, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Valuation Designee will perform other procedures (consistent with GAAP) to value an investment when a market quote is not available. ASC 820 established a three-tier hierarchy of inputs to be used when determining fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk — for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The three-tier hierarchy of inputs is summarized in the three broad levels listed below:

Level 1 – quoted prices in active markets for identical securities

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates,

prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including each Fund’s assumptions in determining the fair value of investments)

The inputs or methodology used for valuation are not necessarily an indication of the risk associated with investing in those investments.

Investments that use Level 2 or Level 3 inputs may include, but are not limited to: (i) an unlisted security related to corporate actions; (ii) a restricted security (e.g., one that may not be publicly sold without registration under the Securities Act of 1933, as amended); (iii) a security whose trading has been suspended (either due to events affecting the issuer of the security specifically or events affecting the primary trading exchange more broadly) or which has been de-listed from its primary trading exchange; (iv) a security that is thinly traded; (v) a security in default or bankruptcy proceedings for which there is no current market quotation or market activity; (vi) a security affected by currency controls or restrictions; and (vii) a security affected by a significant event (e.g., an event that occurs after the close of the markets in which the security is traded but before the time as of which a Fund’s NAV is computed and that may materially affect the value of the Fund’s investments).

 

138   WisdomTree Trust


Notes to Financial Statements (continued)

 

The valuation techniques and significant inputs used in determining the fair market value measurements for Level 2 and Level 3 positions are as follows:

Financial instruments are generally valued by independent pricing service providers that use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models. Depending on the type of financial instrument, the independent pricing service providers’ internal pricing models may use inputs that are observable such as issuer details (e.g., credit rating, debt ranking, coupon date, maturity date, etc.), interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar assets. Financial instruments that use similar valuation techniques and observable inputs as described above and have an appropriate level of market activity are categorized as Level 2 of the fair value hierarchy, otherwise a Level 3 fair value classification is appropriate.

Determination of a fair value by the Valuation Designee may include significant unobservable inputs and therefore such financial instruments would be reflected as a Level 3 of the fair value hierarchy. The Valuation Designee may employ a market-based valuation approach which may use, among other potential considerations, related or comparable securities, recent transactions, market multiples, and other relevant information to determine fair value. The Valuation Designee may also use an income-based valuation approach in which anticipated future cash flows of the financial instrument are discounted to calculate fair value.

The summary of fair valuations according to the inputs used in valuing each Fund’s assets as of the measurement date is included in a “Fair Valuation Summary” supplementary table in each applicable Fund’s Schedule of Investments.

During the fiscal year or period ended March 31, 2023, there were no significant transfers into or out of Level 3 of the fair value hierarchy.

Derivatives and Hedging Disclosure — Codification Topic 815 (“ASC 815”), Derivatives and Hedging, requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements. All of the derivative instruments disclosed and described herein are subject to risk.

For the fiscal year ended March 31, 2023, the effects of derivative instruments on each applicable Fund’s financial performance as reflected in the Statements of Operations are presented in the summary below:

 

   
Fund    Amount of Realized Gain
or (Loss) on Derivatives
Recognized1
 

U.S. ESG Fund

 

Equity risk

   $ (5,159

U.S. Multifactor Fund

 

Equity risk

     118,514  

U.S. SmallCap Quality Dividend Growth Fund

 

Equity risk

     (63,888
  1 

Realized gains (losses) on derivatives are located on the Statements of Operations as follows:

 

Equity risk

   Net realized gain (loss) from futures contracts

During the fiscal year ended March 31, 2023, the volume of derivative activity (based on the average of month-end balances, except where footnoted) for each Fund was as follows:

 

   
     Average Notional  
Fund    Futures
contracts
(long)
 

U.S. ESG Fund

 

Equity risk1

   $ 15,278  

U.S. Multifactor Fund

 

Equity risk1

     459,132  

U.S. SmallCap Quality Dividend Growth Fund

 

Equity risk1

     134,429  
  1 

The volume of derivative activity for the period is based on intra-month balances.

Investment Transactions and Investment Income — Investment transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses on sales of portfolio securities are calculated using the identified-cost method. Dividend income (less foreign taxes withheld, if any) is recognized on the ex-dividend date. Non-cash dividend income is recognized on the ex-dividend date at the fair value of securities to be received. On each measurement date, the Funds evaluate the collectability of receivable balances. Generally, the Funds will write-off dividend receivable balances that are canceled by the issuer as

 

WisdomTree Trust      139  


Notes to Financial Statements (continued)

 

of the date that the dividend receivable cancellation notification was publicly made available or when it becomes probable that dividends will not be collected and the amount of uncollectable dividends can be reasonably estimated. Income earned from securities lending activities (i.e., securities lending income), net of fees payable to the securities borrower and/or securities lending agent, is accrued daily.

Foreign Taxes — The Funds may be subject to foreign taxes (a portion of which may be reclaimable or refundable) on foreign income. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and tax rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are accrued and applied to foreign income as the foreign income is earned and are reflected in the Statements of Operations as follows: foreign taxes withheld on dividends are presented as a reduction to investment income in “Less: Foreign withholding taxes on dividends”, foreign taxes on capital gains from investment transactions, if any, are included in “Net realized gain (loss) from investment transactions”, and deferred foreign taxes on net unrealized appreciation on investments, if any, are included in “Net increase (decrease) in unrealized appreciation/depreciation on investment transactions”. Foreign taxes payable or deferred as of March 31, 2023, if any, are disclosed in the Statements of Assets and Liabilities in “Payables: Foreign capital gains tax”.

Expenses — Under the investment advisory agreement for each Fund, except for Funds that commenced operations on or after March 26, 2013, WTAM has agreed to pay all expenses of the Trust, except for: (i) brokerage expenses and other expenses (such as stamp taxes) connected with the execution of portfolio transactions or in connection with creation and redemption transactions; (ii) legal fees or expenses in connection with any arbitration, litigation or pending or threatened arbitration or litigation, including any settlements in connection therewith; (iii) compensation and expenses of trustees who are not interested persons of the Funds (“Independent Trustees”); (iv) compensation and expenses of counsel to the Independent Trustees; (v) compensation and expenses of the Trust’s Chief Compliance Officer (“CCO”); (vi) extraordinary expenses; (vii) distribution fees and expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act; and (viii) the advisory fee payable to WTAM.

Under the investment advisory agreement for Funds that commenced operations on or after March 26, 2013, WTAM has agreed to pay all expenses of the Trust, except for: (i) brokerage expenses and other fees, charges, taxes, levies or expenses (such as stamp taxes) incurred in connection with the execution of portfolio transactions or in connection with creation and redemption transactions (including without limitation any fees, charges, taxes, levies or expenses related to the purchase or sale of an amount of any currency, or the patriation or repatriation of any security or other asset, related to the execution of portfolio transactions or any creation or redemption transactions); (ii) legal fees or expenses in connection with any arbitration, litigation or pending or threatened arbitration or litigation, including any settlements in connection therewith; (iii) compensation and expenses of each Independent Trustee; (iv) compensation and expenses of counsel to the Independent Trustees; (v) compensation and expenses of the Trust’s CCO; (vi) extraordinary expenses (in each case as determined by a majority of the Independent Trustees); (vii) distribution fees and expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act; (viii) interest and taxes of any kind or nature (including, but not limited to, income, excise, transfer and withholding taxes); (ix) fees and expenses related to the provision of securities lending services; and (x) the advisory fee payable to WTAM.

Acquired fund fees and expenses (“AFFEs”) (which are fees and expenses incurred indirectly by a Fund through its investments in certain underlying investment companies) are not operating expenses of the Funds and are not paid by WTAM.

Pursuant to a separate contractual arrangement, WTAM arranges for the provision of CCO services with respect to each Fund, and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees. WTAM receives a fee, as shown on the Statements of Operations under “Service fees”, of up to 0.0044% per annum of each Fund’s average daily net assets for providing such services and paying such expenses. WTAM provides CCO services to the Trust.

Futures Contracts — The U.S. ESG Fund, U.S. Multifactor Fund and U.S. SmallCap Quality Dividend Growth Fund utilized equity futures contracts on a temporary basis during the fiscal period to obtain market exposure consistent with their investment objective. When a Fund purchases a listed futures contract, it agrees to purchase a specified reference asset (e.g., commodity, currency, equity, digital asset or U.S. Treasury security, collectively herein, “Reference Asset”) at a specified future date. When a Fund sells a listed futures contract, it agrees to sell a specified Reference asset at a future date. The price at which the purchase and sale will take place is fixed when the Fund enters into the contract. A Fund may also cash settle upon the expiration date of a futures contract in which no physical delivery (or receipt) of the specified Reference Asset comprising the futures contract is made. Instead, settlement in cash would occur upon the expiration of the contract, with the cash settlement being the difference between the contract price and the actual price of the specified Reference Asset at the expiration date. The exchange clearing corporation is the ultimate counterparty for all exchange-listed contracts, so credit risk is limited to the creditworthiness of the exchange clearing corporation.

Upon entering into a futures contract, a Fund is required to deliver to a broker an amount of cash and/or U.S. government securities equal to a certain percentage of the contract amount. This amount is known as the “initial margin”. Cash deposited as initial margin, if any, is shown as “Deposits at broker” in the Statement of Assets and Liabilities, and U.S. government securities deposited, if any, are designated in the Schedule of Investments. Subsequent payments, known as “variation margin”, generally are made or received by the Fund each day or at other agreed-upon time periods depending on the fluctuations in the value of the

 

140   WisdomTree Trust


Notes to Financial Statements (continued)

 

underlying futures contracts, except that in the case of certain futures contracts, variation margin payments may be made or received when the futures contract expires. Variation margin is recorded for financial statement purposes on a daily basis as an unrealized gain or loss on futures until the financial futures contract is closed, at which time the unrealized net gain or loss is reclassified to realized gain or loss on futures. Prior to August 19, 2022, when a Fund purchased or sold a futures contract, the Fund was required to “cover” its position in order to limit the risk associated with the use of leverage and other related risks. To cover its position, a Fund would segregate assets consisting of, or take other measures with respect to, cash or liquid securities that, when added to any amounts deposited with a futures commission merchant as margin, would “cover” its position in a manner consistent with the 1940 Act or the rules and SEC interpretations thereunder. This functioned as a practical limit on the amount of leverage which a Fund could undertake and on the potential increase in the speculative character of a Fund’s outstanding portfolio securities. Effective August 19, 2022, the Funds have adopted a derivatives risk management program to manage the Funds’ derivatives risk. Please see Note 7 “Recent Regulatory Update” for information on new regulations governing the use of derivatives by the Funds.

As of March 31, 2023, there were no open futures contracts in the Funds.

Securities Lending — Each Fund may lend portfolio securities to certain creditworthy borrowers, including the Funds’ securities lending agent. It is the Funds’ policy that, at origination, all loans are secured by collateral of at least 102% of the value of U.S. securities loaned and 105% of the value of foreign securities loaned. Collateral in the form of cash and/or securities issued or guaranteed by the U.S. government or its agencies, equivalent to at least 100% of the market value of securities, is maintained at all times. The cash collateral can be invested in certain money market mutual funds which also have exposure to the fluctuations of the market. The values of the investments of cash collateral for securities on loan along with the obligations to return such collateral are included on the Statements of Assets and Liabilities. The total value of securities received as collateral for securities on loan is included in a footnote following each Schedule of Investments, but is not included within the Statements of Assets and Liabilities because the receiving Fund does not have the right to sell or repledge the securities received as collateral. As compensation for lending its securities, each Fund retains all or a portion of the interest received on investment of cash collateral or receives a fee from the borrower (net of any fee rebates paid to the borrower). The lending agent receives a portion of the income earned by the Funds in connection with the lending program. The net securities lending income earned by the Funds is disclosed on the Statements of Operations. The dividend and interest income earned on the securities loaned is accounted for in the same manner as other dividend and interest income. The borrower pays to the Funds an amount equal to any dividends or interest received on loaned securities. Dividends received while a security is out on loan are not considered Qualified Dividend Income (“QDI”) under the specific criteria issued by the Internal Revenue Service and are subject to taxation at the shareholder’s ordinary income tax rate instead of the lower long-term capital gains tax rate. Lending portfolio securities could result in a loss or delay in recovering each Fund’s securities if the borrower defaults. In the event of a borrower default with respect to the failure to return to each Fund some or all of the securities loaned, the securities lending agent shall indemnify each Fund against the failure of the borrower if the value of the collateral received is insufficient to cover the market value of the securities loaned.

Master Netting Arrangements — Codification Topic 210 (“ASC 210”), Balance Sheet, requires disclosures generally intended to (i) help investors and other financial statement users to better assess the effect or potential effect of offsetting arrangements on a company’s financial position, (ii) improve transparency in the reporting of how companies mitigate credit risk, and (iii) facilitate comparisons between those entities that prepare their financial statements on the basis of GAAP and those entities that prepare their financial statements on the basis of international financial reporting standards. ASC 210 requires entities to disclose (i) gross and net information about both instruments and transactions eligible for offset in the financial statements, and (ii) instruments and transactions subject to an agreement similar to a master netting agreement. ASC 210 is limited in scope to the following financial instruments, to the extent they are offset in the financial statements or subject to an enforceable master netting arrangement or similar agreement: (i) recognized derivative instruments accounted for under ASC 815 (Derivatives and Hedging); (ii) repurchase agreements and reverse repurchase agreements; and (iii) securities borrowing and securities lending transactions.

The Funds’ securities lending activities are governed by a Securities Lending Authorization Agreement (“Lending Agreement”) between the Funds and the lending agent. The Lending Agreement authorizes the lending agent to lend qualifying U.S. and foreign securities held by a Fund to approved borrowers (each a “Borrower”). To mitigate borrower risk, a Fund typically receives from a Borrower collateral in the form of U.S. dollar cash and/or securities issued or guaranteed by the U.S. government or its agencies in excess of the market value of the securities loaned. Under the provisions of the Lending Agreement, a Fund shall have, as to the collateral, all of the rights and remedies of a secured party under applicable law. A Fund is exposed to risk of loss if a Borrower defaults on its obligation to return borrowed securities and the value of the collateral a Fund received is insufficient to cover the market value of the securities loaned. Also, the lending agent is permitted to invest the cash collateral it receives from a Borrower into a money market fund which is subject to market fluctuation. Therefore, a Fund is exposed to risk of loss if the value of invested cash collateral is insufficient to satisfy the Fund’s obligation to return the full amount owed to such Borrower. However, in the event of a borrower default with respect to the failure to return to each Fund some or all of the securities loaned, the securities lending agent shall indemnify each Fund against the failure of the borrower if the value of the collateral received is insufficient to cover the market value of the securities loaned.

 

WisdomTree Trust      141  


Notes to Financial Statements (continued)

 

For financial reporting purposes, the Funds elect to not offset assets and liabilities subject to the Lending Agreement or similar arrangements in the Statements of Assets and Liabilities. Therefore, all qualifying transactions, if any at March 31, 2023, are presented on a gross basis in the Statements of Assets and Liabilities. As of March 31, 2023, certain of the Funds had securities on loan and the value of the related collateral received by each of those Funds exceeded the value of the securities loaned by each of those Funds. The value of the securities loaned by each Fund is located in the Statements of Assets and Liabilities in “Investments in securities, at value” and also in the footnotes below the Schedules of Investments. In addition, a breakout of the total amount of cash and non-cash securities lending collateral received is located in the footnotes below the Schedules of Investments.

Short-Term Investments — Each Fund may invest a portion of its assets in high-quality money market instruments on an ongoing basis to provide liquidity or for other reasons. The instruments include short-term obligations issued by the U.S. government, its agencies, non-U.S. government agencies, negotiable certificates of deposit (“CDs”), fixed time deposits and bankers’ acceptances of U.S. and foreign banks and similar institutions, commercial papers, repurchase agreements and money market funds. CDs are short-term negotiable obligations of commercial banks. Time deposits are non-negotiable deposits maintained in banking institutions for specified periods of time at stated interest rates. Banker’s acceptances are time drafts drawn on commercial banks by borrowers, usually in connection with international transactions.

Tax Information and Dividends and Distributions to Shareholders — It is each Fund’s policy to comply with all requirements of the Internal Revenue Code of 1986, as amended (the “Code”). A portion of the Code, known as subchapter M (“Subchapter M”), addresses the ways by which investment companies and investment trusts may pass income through to shareholders in order to avoid double taxation. Each Fund intends to qualify for and to elect treatment as a separate Regulated Investment Company (“RIC”) under Subchapter M of the Code so that it will not be subject to federal income tax on income and gains that are timely distributed to Fund shareholders. Accordingly, no provision for U.S. federal income taxes is required. In order to qualify for the special tax treatment accorded to RICs and their shareholders, each Fund must, among other things, distribute with respect to each taxable year an amount equal to or greater than the sum of 90% of its investment company taxable income and 90% of its net tax-exempt interest income. There can be no guarantee that a Fund will pay dividends. Taxable net realized gains from investment transactions, reduced by capital loss carryforwards, if any, are declared and distributed to shareholders at least annually. The capital loss carryforward amount, if any, is available to offset future net capital gains. The Funds may occasionally be required to make supplemental distributions at some other time during the year. The Trust reserves the right to declare special distributions if, in its reasonable discretion, such action is necessary or advisable to preserve the status of each Fund as a RIC or to avoid imposition of income or excise taxes on undistributed income. Dividends and distributions to shareholders are recorded on the ex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains is determined in accordance with the requirements of the Code and the U.S. Treasury regulations (i.e., tax basis) which may differ to amounts determined under GAAP (i.e., book basis). These book/tax differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the components of net assets based on their Federal tax basis treatment; temporary differences do not require reclassification. Dividends and distributions that exceed earnings and profit for tax purposes are reported for tax purposes as a return of capital.

3. ADVISORY FEES AND OTHER TRANSACTIONS WITH AFFILIATES

WTAM has overall responsibility for the general management and administration of the Trust. WTAM provides an investment program for each Fund. WTAM has arranged for Mellon Investments Corporation (“Mellon”) to provide sub-advisory services to the Funds, except for U.S. AI Enhanced Value Fund. Prior to January 7, 2022, sub-advisory services for the U.S. AI Enhanced Value Fund were provided by Mellon and thereafter Voya Investment Management Co., LLC (“Voya IM”). Mellon and Voya IM are compensated by WTAM at no additional cost to the Funds. WTAM also arranges for transfer agency, custody, fund accounting, fund administration, securities lending and all other non-distribution related services necessary for the Funds to operate, which are generally under separate agreements entered into between the Trust on behalf of the Funds and the applicable service provider. Under the investment advisory agreement for each Fund, WTAM agrees to pay all expenses of the Funds, except for certain expenses described in Note 2.

Pursuant to a separate contractual arrangement, as also described in Note 2, WTAM arranges for the provision of CCO services with respect to each Fund, and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees in exchange for a fee, accrued daily and paid monthly in arrears, of up to 0.0044% per annum of each Fund’s average daily net assets.

 

142   WisdomTree Trust


Notes to Financial Statements (continued)

 

WTAM expects to receive annual advisory fees from each Fund, based on a percentage of the Fund’s average daily net assets, as shown in the following table:

 

   
Fund   

Advisory

Fee Rate

 

U.S. AI Enhanced Value Fund

     0.38

U.S. ESG Fund

     0.28

U.S. Growth & Momentum Fund

     0.55

U.S. High Dividend Fund

     0.38

U.S. LargeCap Dividend Fund

     0.28

U.S. LargeCap Fund

     0.08

U.S. MidCap Dividend Fund

     0.38

U.S. MidCap Fund

     0.38

U.S. Multifactor Fund

     0.28

U.S. Quality Dividend Growth Fund

     0.28

U.S. Quality Growth Fund1

     0.28

U.S. SmallCap Dividend Fund

     0.38

U.S. SmallCap Fund

     0.38

U.S. SmallCap Quality Dividend Growth Fund

     0.38

U.S. Total Dividend Fund

     0.28

U.S. Value Fund

     0.12
  1 

Since the commencement of operations on December 15, 2022.

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Transactions in shares of affiliated ETFs for the fiscal year or period ended March 31, 2023, as applicable, are included in an “Investment in Affiliates” supplementary table in each applicable Fund’s Schedule of Investments. For these transactions, WTAM waives its advisory fees that it would otherwise charge, for each Fund’s investment in affiliated funds. The waivers may be reduced to offset the incremental costs related to these investments (e.g., fund accounting, safekeeping, transaction fees, etc.) that are paid by WTAM out of its advisory fee. The dollar amount of advisory fees waived during the period for the Funds, if any, are included in the Statement of Operations in “Expense waivers”.

During the fiscal year ended March 31, 2023, certain Funds engaged in purchase and sale transactions with funds that have a common investment adviser, WTAM. These interfund purchase and sale transactions were effected in accordance with Rule 17a-7 under the 1940 Act. For the fiscal year ended March 31, 2023, the cost of purchases, proceeds from sales and the net realized gain or loss recognized upon the disposal of securities resulting from interfund transactions are shown in the following table:

 

       
Fund    Purchases      Sales      Net Realized
Gain/(Loss)
 

U.S. Growth & Momentum Fund

   $ 684,871      $ 586,841      $ 18,846  

U.S. High Dividend Fund

     109,126,837        15,613,812        (268,425

U.S. LargeCap Dividend Fund

     90,199,151        101,095,118        (7,741,647

U.S. LargeCap Fund

     39,575,108        36,256,026        (6,041,853

U.S. MidCap Dividend Fund

     266,621,817        157,010,806        (23,109,688

U.S. MidCap Fund

     66,105,474        109,499,748        (11,331,113

U.S. Quality Dividend Growth Fund

     151,367,786        131,379,354        (9,712,202

U.S. SmallCap Dividend Fund

     124,974,374        263,808,881        22,449,314  

U.S. SmallCap Fund

     56,611,156        99,586,194        8,137,268  

U.S. SmallCap Quality Dividend Growth Fund

     34,640,935        36,203,233        (3,223,393

U.S. Total Dividend Fund

     38,385,509        27,253,006        (2,665,826

 

WisdomTree Trust      143  


Notes to Financial Statements (continued)

 

WTAM and/or WisdomTree (collectively herein, “WT”) may from time to time own shares of a Fund. As of and for the fiscal year ended March 31, 2023, WT held shares of and received distributions from the following Funds, which were purchased through an unaffiliated broker in ordinary brokerage transactions in the secondary market in which the Funds’ shares trade:

 

       
     At March 31, 2023            For the Fiscal Year Ended
March 31, 2023
 
Fund    Fund Shares
held by WT
     Market Value of
Fund Shares
held by WT
            Dividends and
Distributions paid to
WT on Fund Shares
held by WT
 

U.S. ESG Fund

     255      $ 10,992              $ 156  

U.S. High Dividend Fund

     88        7,240                77  

U.S. LargeCap Fund

     1,573        68,772                1,303  

U.S. MidCap Dividend Fund

     415        17,007                508  

U.S. Multifactor Fund

     1,091        40,967                673  

U.S. Quality Dividend Growth Fund

     786        48,999                1,056  

U.S. SmallCap Dividend Fund

     122        3,484                106  

U.S. SmallCap Fund

     288        12,447                163  

U.S. SmallCap Quality Dividend Growth Fund

     332        13,801                454  

U.S. Total Dividend Fund

     346        20,964                662  

U.S. Value Fund

     73        4,281                88  

In connection with the organization of the U.S. Quality Growth Fund, a newly launched Fund, WTAM contributed $100 to the Fund in exchange for 4 shares of the Fund. Prior to March 31, 2023, WTAM redeemed the aforementioned shares as 4 shares of the Fund for proceeds of $100.

4. CAPITAL SHARE TRANSACTIONS

As of March 31, 2023, there were an unlimited number of $0.001 par value shares of beneficial interest authorized by the Trust. Shares are issued and redeemed by each Fund only in creation units or multiples thereof to an authorized participant (“AP”). Except when aggregated in creation units (“Creation Unit Aggregations”), shares of each Fund are not redeemable. Transactions in shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets. The consideration for the purchase of creation units of a Fund generally consists of the in-kind contribution of a basket of securities (“Deposit Securities”) and/or an amount of cash (“Cash Component”). Creation Unit Aggregations may be created in advance of receipt by a Fund of all or a portion of the applicable Deposit Securities from APs. In these circumstances, the initial deposit received from the AP will have a value greater than the NAV of the applicable Fund’s shares on the date the order is placed in proper form since, in addition to available Deposit Securities, U.S. cash must be deposited by the AP in an amount equal to the sum of (i) the Cash Component, plus (ii) generally between 102%-110%, as directed by the Trust or WTAM, which the Trust or WTAM may change from time to time, of the market value of the undelivered Deposit Securities (the “Additional Cash Deposit”) with the Fund pending delivery of any missing Deposit Securities. The Fund will return any unused portion of the Additional Cash Deposit once all of the missing Deposit Securities have been properly received from the AP or purchased by the Fund. Amounts due to be returned to an AP as of March 31, 2023, if any, is shown in the Statements of Assets and Liabilities in “Payables: Deposit due to authorized participant”. APs purchasing and redeeming creation units may be charged a purchase transaction fee and a redemption transaction fee to offset transfer and other transaction costs associated with the issuance and redemption of creation units.

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments (excluding purchases and sales resulting from in-kind capital share transactions and short-term investments) and the cost of purchases and the proceeds from sales resulting from in-kind capital share transactions (excluding short-term investments) for the fiscal year or period ended March 31, 2023 are shown in the following table. Realized gains and losses on sales resulting from in-kind capital share redemptions, as shown on the Statements of Operations, are not recognized by the Funds for tax purposes.

 

       
                   In-kind Capital Share Transactions  
Fund    Purchases      Sales      Purchases      Sales  

U.S. AI Enhanced Value Fund

   $ 639,728,180      $ 639,742,518      $      $ 60,389,136  

U.S. ESG Fund

     31,757,003        31,649,537        2,073,213        3,092,133  

U.S. Growth & Momentum Fund

     15,452,177        15,447,307               1,183,382  

U.S. High Dividend Fund

     588,102,855        586,278,198        962,852,648        575,135,011  

 

144   WisdomTree Trust


Notes to Financial Statements (continued)

 

       
                   In-kind Capital Share Transactions  
Fund    Purchases      Sales      Purchases      Sales  

U.S. LargeCap Dividend Fund

   $ 707,746,126      $ 695,104,884      $ 640,856,060      $ 408,415,430  

U.S. LargeCap Fund

     140,941,635        140,656,624        108,272,366        81,844,013  

U.S. MidCap Dividend Fund

     1,280,368,381        1,271,547,771        1,039,407,637        798,572,910  

U.S. MidCap Fund

     298,422,727        297,721,097        67,904,870        91,754,816  

U.S. Multifactor Fund

     236,057,282        234,783,030        101,256,460        43,548,101  

U.S. Quality Dividend Growth Fund

     2,012,195,551        2,025,373,256        3,137,218,504        1,981,330,048  

U.S. Quality Growth Fund1

     20,678        31,573        2,563,490         

U.S. SmallCap Dividend Fund

     718,794,202        702,220,729        209,712,854        41,687,362  

U.S. SmallCap Fund

     325,787,700        321,150,720        160,036,888        217,225,484  

U.S. SmallCap Quality Dividend Growth Fund

     112,924,470        112,343,102        86,536,246        68,851,129  

U.S. Total Dividend Fund

     205,478,067        204,713,728        222,324,400        161,267,841  

U.S. Value Fund

     78,592,585        78,458,193        75,812,198        36,847,090  
  1 

For the period December 15, 2022 (commencement of operations) through March 31, 2023.

6. FEDERAL INCOME TAXES

At March 31, 2023, the cost of investments (including securities on loan) for Federal income tax purposes was as follows:

 

         
Fund    Tax Cost      Gross Unrealized
Appreciation
     Gross Unrealized
Depreciation
    

Net Unrealized
Appreciation/

(Depreciation)

 

U.S. AI Enhanced Value Fund

   $ 429,841,061      $ 7,232,569      $ (35,113,862    $ (27,881,293

U.S. ESG Fund

     56,143,294        13,962,461        (2,249,497      11,712,964  

U.S. Growth & Momentum Fund

     2,472,862        87,299        (77,564      9,735  

U.S. High Dividend Fund

     1,347,638,569        81,296,389        (93,425,555      (12,129,166

U.S. LargeCap Dividend Fund

     2,814,798,825        747,925,865        (91,987,151      655,938,714  

U.S. LargeCap Fund

     613,689,704        80,550,189        (35,915,654      44,634,535  

U.S. MidCap Dividend Fund

     3,113,089,650        323,242,155        (220,738,247      102,503,908  

U.S. MidCap Fund

     704,197,409        80,438,720        (67,352,362      13,086,358  

U.S. Multifactor Fund

     255,163,908        17,899,064        (11,048,134      6,850,930  

U.S. Quality Dividend Growth Fund

     7,432,238,125        973,268,502        (286,872,199      686,396,303  

U.S. Quality Growth Fund

     2,551,773        314,628        (29,446      285,182  

U.S. SmallCap Dividend Fund

     1,894,465,702        173,084,899        (191,045,279      (17,960,380

U.S. SmallCap Fund

     611,539,235        52,903,268        (84,042,438      (31,139,170

U.S. SmallCap Quality Dividend Growth Fund

     237,280,007        16,011,523        (25,030,274      (9,018,751

U.S. Total Dividend Fund

     891,811,383        222,438,012        (37,651,313      184,786,699  

U.S. Value Fund

     143,616,439        10,491,241        (7,052,353      3,438,888  

At March 31, 2023, the components of total distributable earnings (loss) on a tax-basis were as follows:

 

         
Fund    Undistributed
Ordinary Income
    

Undistributed

Capital and

Other Losses

    

Net Unrealized
Appreciation/

(Depreciation)

    

Total

Distributable
Earnings (Loss)

 

U.S. AI Enhanced Value Fund

   $ 208,534      $ (110,049,305    $ (27,881,293    $ (137,722,064

U.S. ESG Fund

     32,450        (11,228,830      11,712,964        516,584  

U.S. Growth & Momentum Fund

            (1,542,485      9,735        (1,532,750

U.S. High Dividend Fund

     356,464        (98,262,902      (12,129,166      (110,035,604

U.S. LargeCap Dividend Fund

     1,639,182        (229,545,999      655,938,714        428,031,897  

U.S. LargeCap Fund

     371,805        (58,208,672      44,634,535        (13,202,332

U.S. MidCap Dividend Fund

     1,951,327        (441,743,229      102,503,908        (337,287,994

U.S. MidCap Fund

     263,921        (85,502,310      13,086,358        (72,152,031

U.S. Multifactor Fund

     91,068        (34,657,056      6,850,930        (27,715,058

U.S. Quality Dividend Growth Fund

     3,301,671        (426,907,809      686,396,303        262,790,165  

U.S. Quality Growth Fund

     2,614        (821      285,182        286,975  

 

WisdomTree Trust      145  


Notes to Financial Statements (continued)

 

         
Fund    Undistributed
Ordinary Income
    

Undistributed

Capital and

Other Losses

    

Net Unrealized
Appreciation/

(Depreciation)

    

Total

Distributable
Earnings (Loss)

 

U.S. SmallCap Dividend Fund

   $ 1,129,573      $ (360,757,365    $ (17,960,380    $ (377,588,172

U.S. SmallCap Fund

     230,045        (82,614,954      (31,139,170      (113,524,079

U.S. SmallCap Quality Dividend Growth Fund

     122,694        (25,709,706      (9,018,751      (34,605,763

U.S. Total Dividend Fund

     26,149        (101,550,644      184,786,699        83,262,204  

U.S. Value Fund

     63,542        (15,914,587      3,438,888        (12,412,157

The tax character of distributions paid during the fiscal years or periods ended March 31, 2023 and March 31, 2022, was as follows:

 

     
     Year or Period Ended March 31, 2023      Year or Period Ended March 31, 2022  
Fund    Distributions Paid
from Ordinary
Income*
     Distributions Paid
from Return of
Capital
    

Distributions Paid

from Ordinary

Income*

 

U.S. AI Enhanced Value Fund

   $ 9,454,072      $      $ 15,541,024  

U.S. ESG Fund

     1,008,693               1,160,908  

U.S. Growth & Momentum Fund

     1,984        400        1 

U.S. High Dividend Fund

     52,764,847               25,589,520  

U.S. LargeCap Dividend Fund

     94,641,498               68,529,090  

U.S. LargeCap Fund

     12,389,635               10,044,472  

U.S. MidCap Dividend Fund

     92,020,134               69,041,808  

U.S. MidCap Fund

     10,959,568               10,460,358  

U.S. Multifactor Fund

     3,948,786               2,386,625  

U.S. Quality Dividend Growth Fund

     154,296,995               123,175,321  

U.S. Quality Growth Fund

     2       2       N/A  

U.S. SmallCap Dividend Fund

     54,457,954               48,960,885  

U.S. SmallCap Fund

     8,368,109               10,226,320  

U.S. SmallCap Quality Dividend Growth Fund

     6,156,770               5,126,380  

U.S. Total Dividend Fund

     30,260,035               21,438,300  

U.S. Value Fund

     2,373,350               1,432,409  
  * 

Includes short-term capital gains, if any.

 

  1 

For the period June 24, 2021 (commencement of operations) through March 31, 2022.

 

  2 

For the period December 15, 2022 (commencement of operations) through March 31, 2023.

At March 31, 2023, for Federal tax purposes, the Funds have capital loss carryforwards available to offset future capital gains as indicated in the following table. The loss carryforward amounts do not have an expiration date and, therefore, can be carried forward indefinitely until utilized. To the extent that these loss carryforwards are utilized, capital gains so offset will not be distributed to shareholders. During the fiscal year or period ended March 31, 2023, the Funds did not utilize any available capital loss carryforward amounts given that there were no tax-basis capital gains.

 

       
Fund    Short-Term      Long-Term     

Capital Loss

Available

Total

 

U.S. AI Enhanced Value Fund

   $ 48,448,999      $ 61,600,306      $ 110,049,305  

U.S. ESG Fund

     7,916,241        3,312,589        11,228,830  

U.S. Growth & Momentum Fund

     1,540,689        1,796        1,542,485  

U.S. High Dividend Fund

     20,086,893        78,176,009        98,262,902  

U.S. LargeCap Dividend Fund

     30,941,812        198,604,187        229,545,999  

U.S. LargeCap Fund

     31,470,083        26,738,589        58,208,672  

U.S. MidCap Dividend Fund

     183,761,485        257,981,744        441,743,229  

U.S. MidCap Fund

     45,932,644        39,569,666        85,502,310  

U.S. Multifactor Fund

     34,220,283        436,773        34,657,056  

U.S. Quality Dividend Growth Fund

     245,107,649        181,800,160        426,907,809  

U.S. Quality Growth Fund

     821               821  

U.S. SmallCap Dividend Fund

     70,618,855        290,138,510        360,757,365  

U.S. SmallCap Fund

     40,622,202        41,992,752        82,614,954  

 

146   WisdomTree Trust


Notes to Financial Statements (continued)

 

       
Fund    Short-Term      Long-Term     

Capital Loss

Available

Total

 

U.S. SmallCap Quality Dividend Growth Fund

   $ 10,941,833      $ 14,767,873      $ 25,709,706  

U.S. Total Dividend Fund

     32,073,401        69,477,243        101,550,644  

U.S. Value Fund

     8,071,884        7,842,703        15,914,587  

Capital losses incurred after October 31 (“post-October capital losses”) and late year ordinary losses incurred after December 31 within the taxable year are deemed to arise on the first business day of each Fund’s next taxable year. At March 31, 2023, the Funds did not have any post-October capital losses or late year ordinary losses to defer.

At March 31, 2023, the effect of permanent “book/tax” reclassifications resulted in increases (decreases) to the components of net assets as shown in the following table. These differences are primarily due to redemptions-in-kind and distributions in excess of current earnings.

 

     
Fund   

Total

Distributable

Earnings (Loss)

     Paid-in Capital  

U.S. AI Enhanced Value Fund

   $ (1,355,934    $ 1,355,934  

U.S. ESG Fund

     (750,538      750,538  

U.S. Growth & Momentum Fund

     (41,279      41,279  

U.S. High Dividend Fund

     (123,325,255      123,325,255  

U.S. LargeCap Dividend Fund

     (167,789,828      167,789,828  

U.S. LargeCap Fund

     (21,923,913      21,923,913  

U.S. MidCap Dividend Fund

     (236,416,360      236,416,360  

U.S. MidCap Fund

     (14,246,636      14,246,636  

U.S. Multifactor Fund

     (5,939,935      5,939,935  

U.S. Quality Dividend Growth Fund

     (549,113,291      549,113,291  

U.S. Quality Growth Fund

             

U.S. SmallCap Dividend Fund

     (8,415,808      8,415,808  

U.S. SmallCap Fund

     (32,347,810      32,347,810  

U.S. SmallCap Quality Dividend Growth Fund

     (11,504,508      11,504,508  

U.S. Total Dividend Fund

     (64,165,275      64,165,275  

U.S. Value Fund

     (7,949,141      7,949,141  

GAAP provides guidance on tax provisions that prescribe a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. As of and during the fiscal year or period ended March 31, 2023, the Funds did not have any liabilities for unrecognized tax benefits relating to uncertain income tax positions they have taken or expect to take in the future. If applicable, the Funds will recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in “Other” expenses on the Statements of Operations. The Funds file tax returns with the Internal Revenue Service, the State of New York, and various other states. Specific to U.S. federal and state taxes, generally, each of the tax years in the four-year period ended March 31, 2023, remains subject to examination by taxing authorities.

7. RECENT REGULATORY UPDATE

Effective August 19, 2022, the Funds have adopted policies and procedures to comply with new regulations issued by the SEC governing the use of derivatives by registered investment companies (“Rule 18f-4”). Rule 18f-4 imposes limits on the amount of derivatives a fund can enter into, eliminates the asset segregation framework used by the Funds prior to August 19, 2022 to comply with Section 18 of the 1940 Act, and requires funds, whose use of derivatives is greater than a limited specified amount, to establish and maintain a comprehensive derivatives risk management program and appoint a derivatives risk manager. Rule 18f-4 has not had a material impact on the Funds’ financial statements.

The fair valuation Rule 2a-5 went into effect on September 8, 2022. The Rule sets forth requirements for determining the fair value of portfolio securities and establishes a framework focused on process, testing and oversight. The Rule allows fund boards to designate a valuation designee responsible for performing fair value determinations in good faith. WTAM has been designated as the Valuation Designee for the Funds and is responsible for assessing material risks, establishing fair value methodologies, testing the appropriateness and accuracy of the methodologies and overseeing third-party pricing vendors. Under the new fair valuation policies, WTAM is responsible for regular quarterly reporting of any material fair valuation matter, annual reporting on the adequacy of the Valuation Designee’s processes, and the prompt notification to the board of any material impact of the fair value process on portfolio investments.

 

WisdomTree Trust      147  


Notes to Financial Statements (concluded)

 

8. RECENT ACCOUNTING PRONOUNCEMENT

In June 2022, the FASB issued Accounting Standards Update No. 2022-03 (“ASU 2022-03”), Fair Value Measurement (Topic 820) — Fair Value Measurement of Equity Securities Subject to Contractual Sales Restrictions. The amendments in ASU 2022-03 clarify that a contractual restriction on a sale of an equity security is not considered a part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The amendments in ASU 2022-03 also require the following disclosures for equity securities subject to contractual sale restrictions: (i) the fair value of equity securities subject to contractual sale restrictions reflected in the balance sheet, (ii) the nature and remaining duration of the restriction(s), and (iii) the circumstances that could cause a lapse in the restriction(s). The amendments in ASU 2022-03 are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years for public business entities (early adoption is also permitted). WTAM has evaluated ASU 2022-03 and determined that the adoption of ASU 2022-03 will not have a significant impact on the Trust’s financial statements and related disclosures.

9. ADDITIONAL INFORMATION

Russia’s military invasion of Ukraine initiated in February 2022 and the economic and diplomatic responses by the United States and other countries have led to increased volatility and uncertainty in the financial markets and could continue to adversely affect regional and global economies for the foreseeable future. In response to Russia’s actions, the governments of the United States, the European Union, the United Kingdom, and many other countries collectively imposed heavy and broad-ranging economic sanctions on certain Russian individuals, corporate and banking entities, and other industries and businesses. The sanctions restrict companies from doing business with Russia and Russian companies, prohibit transactions with the Russian central bank and other key Russian financial institutions and entities, ban Russian airlines and ships from using many other countries’ airspace and ports, respectively, and place a freeze on certain Russian assets. The sanctions also removed some Russian banks from the Society for Worldwide Interbank Financial Telecommunications (SWIFT), the electronic network that connects banks globally to facilitate cross-border payments. In addition, the United States has banned oil and other energy imports from Russia, as well as other popular Russian exports, such as diamonds, seafood and vodka. The European Union, the United Kingdom and other countries have also placed restrictions on certain oil, energy and luxury good imports from Russia.

These sanctions, as well as other economic consequences related to the invasion, such as additional sanctions, boycotts, changes in consumer or purchaser preferences, or cyberattacks on governments, companies or individuals, may further decrease the value and liquidity of certain Russian securities as well as securities of issuers in other countries that are subject to or otherwise adversely affected by economic sanctions related to Russia’s invasion of Ukraine, including Russian counter measures. To the extent a Fund has exposure to Russian investments or investments in countries affected by the invasion or the sanctions, the Fund’s ability to price, buy, sell, receive or deliver, or receive dividends and interest payments on such investments may be impaired. In certain circumstances, such as when there is no market for a security or other means of valuing or disposing of a security, a Fund may determine to value the affected security at zero. In addition, any exposure a Fund may have to counterparties in Russia or in countries affected by the invasion could negatively affect the Fund’s portfolio. The extent and duration of Russia’s military actions and the repercussions of such actions are impossible to predict, but could result in continued significant market disruptions, including in the oil and natural gas markets, and may negatively affect global supply chains, inflation and global growth. Further, an escalation of the military conflict beyond Ukraine’s borders could result in significant, long-lasting damage to the economies of Eastern and Western Europe as well as the global economy. These and any related events could significantly and adversely affect a Fund’s performance and the value of an investment in the Fund, even in the absence of direct exposure to Russian issuers or issuers in other countries affected by the invasion.

*    *    *    *    *    *

Financial markets around the world may experience extreme volatility, depressed valuations, decreased liquidity and heightened uncertainty and turmoil resulting from major cybersecurity events, geopolitical events (including wars, such as Russia’s invasion of Ukraine, terror attacks, and disruptions to foreign economic and trade relationships), public health emergencies, such as the COVID-19 pandemic, measures to address budget deficits, downgrading of sovereign debt, and public sentiment, among other events. Resulting market volatility, dramatic changes to interest rates, and otherwise unfavorable economic conditions may negatively impact Fund performance or impair a Fund’s ability to achieve its investment objective.

In March 2023, the financial distress of certain financial institutions raised economic concerns over disruption in the U.S. banking system and regarding the solvency of certain financial services firms. There can be no certainty that the actions taken by the U.S. government to strengthen public confidence in the U.S. banking system will be effective in mitigating the effects of financial institution failures on the economy and restoring public confidence in the U.S. banking system.

 

148   WisdomTree Trust


Report of Independent Registered Public Accounting Firm

 

To the Shareholders of WisdomTree U.S. Al Enhanced Value Fund, WisdomTree U.S. ESG Fund, WisdomTree U.S. Growth & Momentum Fund, WisdomTree U.S. High Dividend Fund, WisdomTree U.S. LargeCap Dividend Fund, WisdomTree U.S. LargeCap Fund, WisdomTree U.S. MidCap Dividend Fund, WisdomTree U.S. MidCap Fund, WisdomTree U.S. Multifactor Fund, WisdomTree U.S. Quality Dividend Growth Fund, WisdomTree U.S. Quality Growth Fund, WisdomTree U.S. SmallCap Dividend Fund, WisdomTree U.S. SmallCap Fund, WisdomTree U.S. SmallCap Quality Dividend Growth Fund, WisdomTree U.S. Total Dividend Fund and, WisdomTree U.S. Value Fund, and the Board of Trustees of WisdomTree Trust

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of WisdomTree U.S. Al Enhanced Value Fund, WisdomTree U.S. ESG Fund, WisdomTree U.S. Growth & Momentum Fund, WisdomTree U.S. High Dividend Fund, WisdomTree U.S. LargeCap Dividend Fund, WisdomTree U.S. LargeCap Fund, WisdomTree U.S. MidCap Dividend Fund, WisdomTree U.S. MidCap Fund, WisdomTree U.S. Multifactor Fund, WisdomTree U.S. Quality Dividend Growth Fund, WisdomTree U.S. Quality Growth Fund, WisdomTree U.S. SmallCap Dividend Fund, WisdomTree U.S. SmallCap Fund, WisdomTree U.S. SmallCap Quality Dividend Growth Fund, WisdomTree U.S. Total Dividend Fund and, WisdomTree U.S. Value Fund (collectively referred to as the “Funds”), (sixteen of the funds constituting WisdomTree Trust (the “Trust”)), including the schedules of investments, as of March 31, 2023, and the related statements of operations and changes in net assets, and the financial highlights for each of the periods indicated in the table below and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds (sixteen of the funds constituting WisdomTree Trust) at March 31, 2023, and the results of their operations, changes in net assets and financial highlights for each of the periods indicated in the table below, in conformity with U.S. generally accepted accounting principles.

 

       
Individual fund constituting the WisdomTree Trust    Statement of
operations
   Statements of changes
in net assets
   Financial highlights

WisdomTree U.S. Al Enhanced Value Fund

WisdomTree U.S. ESG Fund

WisdomTree U.S. High Dividend Fund

WisdomTree U.S. LargeCap Dividend Fund

WisdomTree U.S. LargeCap Fund

WisdomTree U.S. MidCap Dividend Fund

WisdomTree U.S. MidCap Fund

WisdomTree U.S. Multifactor Fund

WisdomTree U.S. Quality Dividend Growth Fund

WisdomTree U.S. SmallCap Dividend Fund

WisdomTree U.S. SmallCap Fund

WisdomTree U.S. SmallCap Quality Dividend Growth Fund

WisdomTree U.S. Total Dividend Fund

WisdomTree U.S. Value Fund

   For the year ended March 31, 2023    For each of the two years in the period ended March 31, 2023    For each of the five years in the period ended March 31, 2023

WisdomTree U.S. Growth & Momentum Fund

   For the year ended March 31, 2023    For the year ended March 31, 2023 and for the period June 24, 2021 (commencement of operations) through March 31, 2022

WisdomTree U.S. Quality Growth Fund

   For the period December 15, 2022 (commencement of operations) through March 31, 2023

Basis for Opinion

These financial statements are the responsibility of the Trust’s management. Our responsibility is to express an opinion on each of the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust’s internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities

 

WisdomTree Trust      149  


Report of Independent Registered Public Accounting Firm (concluded)

 

owned as of March 31, 2023, by correspondence with the custodian, brokers and others; when replies were not received from brokers, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

 

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We have served as the auditor of one or more WisdomTree investment companies since 2006.

New York, New York

May 30, 2023

 

150   WisdomTree Trust


Approval of Investment Advisory and Sub-Advisory Agreements (unaudited)

 

Consideration of the Approval of Investment Advisory and Sub-Advisory Agreements

WisdomTree U.S. Quality Growth Fund (the “Fund”)

At a meeting of the Board of Trustees (the “Board”) of the WisdomTree Trust (the “Trust”) held on December 5-6, 2022, the Trustees (the “Trustees”), including those Trustees who are not “interested persons” (as defined in the Investment Company Act of 1940, as amended) of the Trust (the “Independent Trustees”), considered the approval of the Investment Advisory Agreement (the “Advisory Agreement”), pursuant to which WisdomTree Asset Management, Inc. (“WTAM”) will provide the Fund with investment advisory services, and the Sub-Advisory Agreement (together with the Advisory Agreement, the “Agreements”), pursuant to which Mellon Investments Corporation (the “Sub-Adviser”) will coordinate the investment and reinvestment of the assets of the WisdomTree U.S. Quality Growth Fund.

In considering whether to approve the Agreements, the Trustees considered and discussed information and analysis provided by WTAM and Broadridge Financial Solutions, Inc. (“Broadridge”), an independent provider of investment company data. The Trustees noted that representatives from WTAM presented preliminary information to the Trustees regarding the Fund’s proposed investment objective and principal investment strategies and risks at a meeting of the Trust’s Investment Committee, a committee of Independent Trustees, on November 30, 2022. The Independent Trustees were assisted in their review by independent legal counsel and met with counsel in executive session separate from WTAM representatives and the Sub-Adviser. In considering the approval of the Agreements, the Board considered all factors that it believed to be relevant, including those discussed below. The Board did not identify any one factor as dispositive, and each Trustee may have attributed different weights to the factors considered.

Analysis of Nature, Extent, and Quality of Services to be Provided to the Fund. The Board considered information provided to them at the meeting and in previous presentations throughout the year from WTAM representatives regarding the nature, extent, and quality of the services provided to the WisdomTree funds, recognizing WTAM’s and the Sub-Adviser’s operational capabilities and resources. It was noted that the Fund would be passively managed. The Board noted WTAM’s belief that shareholders will invest in the Fund on the strength of WTAM’s industry standing and reputation and with the expectation that WTAM will have a continuing role in providing advisory services to the Fund. The Board also noted the extensive responsibilities that WTAM will have as investment adviser to the Fund, including: the selection of, and supervisory responsibilities and activities over, the Sub-Adviser, including oversight of the Sub-Adviser’s adherence to the Fund’s investment strategy and restrictions, monitoring of the Sub-Adviser’s buying and selling of securities and derivatives transactions, review of Sub-Adviser performance, review of proxies voted by the Sub-Adviser and oversight of, and the provision of consultation to, the Sub-Adviser with respect to the creation of custom creation or redemption baskets for authorized participants; oversight of the daily valuation of the Fund’s portfolio holdings; oversight of general Fund compliance with federal and state laws; and implementation of Board directives as they relate to the Fund. The Board also considered research support available to, and management capabilities of, the Fund’s management personnel and that WTAM will provide oversight of day-to-day Fund operations, including fund accounting, tax matters, administration, compliance and legal assistance in meeting disclosure and regulatory requirements.

Based on review of this information and the other factors considered at the meeting, the Board concluded that the nature, extent and quality of services to be provided by WTAM and the Sub-Adviser under the Advisory Agreement and Sub-Advisory Agreement, respectively, are adequate and appropriate and supported the Board’s approval of the Agreements.

Comparative Analysis of the Fund’s Performance, Advisory Fees and Fund Expenses. As the Fund has not yet commenced operations, the Board was not able to review the Fund’s performance. The Board discussed with WTAM representatives the portfolio management team and the investment strategies to be employed in the management of the Fund’s assets. The Board noted the reputation and experience of WTAM and the Sub-Adviser.

The Board considered the fees to be paid to WTAM by the Fund. The Board examined the fee to be paid by the Fund in light of fees paid to other investment advisers by comparable funds and the method of computing the Fund’s fee. The Board also considered the fee to be paid to the Sub-Adviser in relation to the fee to be paid to WTAM by the Fund and the respective services to be provided by the Sub-Adviser and WTAM. The Board also noted the Sub-Adviser’s fees will be paid by WTAM (out of its fee paid by the Fund) and not by the Fund. The Board considered the meaningful differences in the services that WTAM will provide to the Fund as compared to the Sub-Adviser, including that the role of the Sub-Adviser in making investment recommendations with respect to the Fund tracking an index is a rules-based function, with oversight by WTAM in seeking to ensure compliance with such rules. The Board also considered the entrepreneurial and expense risk to be borne by WTAM that is associated with the Fund’s unitary fee structure, which includes minimum fees (such as those to the Sub-Adviser), regardless of whether the asset size of the Fund grows to a sufficient size. Based on this review, the Board concluded that the fees to be paid to WTAM and the Sub-Adviser supported the Board’s approval of the Agreements.

Analysis of Profitability and Economies of Scale. As the Fund has not yet commenced operations, WTAM representatives were not able to review the dollar amount of expenses allocated and profit received by WTAM, or any economies of scale. The Board considered potential benefits to WTAM and the Sub-Adviser from acting as investment adviser and sub-adviser, respectively. The Board also considered the uncertainty of the estimated asset levels and the renewal requirements for advisory agreements and their

 

WisdomTree Trust      151  


Approval of Investment Advisory and Sub-Advisory Agreements (unaudited) (concluded)

 

ability to review the advisory fees annually after the initial term of the Agreements. The Board determined that because the Fund had not yet commenced operations, economies of scale were not a factor, but, to the extent in the future it were determined that material economies of scale had not been shared with the Fund, the Board would seek to have those economies of scale shared with the Fund in connection with future renewals.

*    *    *    *    *    *

In evaluating the Agreements, the Board considered the conclusions and determinations discussed above and also relied on its knowledge, gained through meetings and other interactions with WTAM and the Sub-Adviser, of other funds advised by WTAM and the Sub-Adviser. In light of the foregoing, the Board, including a majority of the Independent Trustees, determined to approve the Agreements.

 

152   WisdomTree Trust


Liquidity Risk Management Program (unaudited)

 

The Funds adopted a liquidity risk management program (the “Program”) pursuant to the requirements of Rule 22e-4 (the “Rule”) under the Investment Company Act of 1940, as amended. The Rule requires registered open-end funds, including exchange-traded funds such as the Funds, to establish liquidity risk management programs in order to effectively manage fund liquidity and shareholder redemptions. The Rule is designed to mitigate the risk that a Fund could not meet redemption requests without significantly diluting the interest of remaining investors. The Board has appointed WisdomTree Asset Management, Inc., the investment advisor to the Funds, as the Program Administrator for each Fund’s Program.

The Rule requires the Funds to assess, manage and review their liquidity risk at least annually considering applicable factors such as investment strategy and liquidity during normal and foreseeable stressed conditions, including whether the strategy is appropriate for an open-ended fund and whether the Fund has a relatively concentrated portfolio or large positions in particular issuers. The Funds must also assess their use of borrowings and derivatives, short-term and long-term cash flow projections in normal and stressed conditions, holdings of cash and cash equivalents, and borrowing arrangements and other funding sources.

The Rule also requires the Funds to classify their investments into one of four liquidity categories: highly liquid, moderately liquid, less liquid or illiquid based on the number of days a Fund expects it would take to liquidate the investment, and to review these classifications at least monthly or more often under certain conditions. The periods range from three or fewer business days for a highly liquid investment to greater than seven calendar days for settlement of a less liquid investment. Illiquid investments are those a Fund does not expect to be able to sell or dispose of within seven calendar days without significantly changing the market value of the investment. A Fund is prohibited from acquiring an investment if, after the acquisition, its holdings of illiquid assets will exceed 15% of its net assets. In addition, if a Fund permits redemptions in-kind, the Rule requires the Fund to establish redemption in-kind policies and procedures governing how and when it will engage in such redemptions.

Pursuant to the Rule’s requirements, the Program has been reviewed and approved by the Fund’s Board. Furthermore, the Board has received a written report prepared by the Program Administrator that addresses the operation of the Program, assesses its adequacy and effectiveness and describes any material changes made to the Program. The Program Administrator has monitored the Fund’s liquidity risk and the liquidity classifications of the securities held by the Fund and has determined that the Program is operating effectively.

During the period from January 1, 2022 to December 31, 2022, there were no material changes to the Program and no material liquidity events that impacted the Funds. During the period, the Funds held sufficient highly liquid assets to meet fund redemptions.

Under normal expected foreseeable Fund redemption forecasts and foreseeable stressed Fund redemption forecasts, the Program Administrator believes that the Funds maintain sufficient highly liquid assets to meet Fund redemptions.

 

WisdomTree Trust      153  


Supplemental Information (unaudited)

 

Federal Income Tax Information

The following Federal tax information related to the Funds’ fiscal year or period ended March 31, 2023, is provided for information purposes only and should not be used for reporting to federal or state revenue agencies. Federal tax information for the calendar year will be reported to you on Form 1099-DIV in January 2024.

Certain dividends paid by the Funds may be subject to a maximum tax rate of 15%, as provided by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Of the distributions paid during the fiscal year or period ended March 31, 2023, the following represents the maximum amount of ordinary income distributions that may be considered qualified dividend income:

 

   
Fund    Qualified Dividend
Income
 

U.S. AI Enhanced Value Fund

   $ 9,454,072  

U.S. ESG Fund

     1,008,693  

U.S. Growth & Momentum Fund

     1,984  

U.S. High Dividend Fund

     52,632,261  

U.S. LargeCap Dividend Fund

     94,641,498  

U.S. LargeCap Fund

     12,389,635  

U.S. MidCap Dividend Fund

     92,020,134  

U.S. MidCap Fund

     10,959,568  

U.S. Multifactor Fund

     3,948,786  

U.S. Quality Dividend Growth Fund

     154,296,995  

U.S. Quality Growth Fund1

      

U.S. SmallCap Dividend Fund

     54,457,954  

U.S. SmallCap Fund

     8,368,109  

U.S. SmallCap Quality Dividend Growth Fund

     6,156,770  

U.S. Total Dividend Fund

     30,260,035  

U.S. Value Fund

     2,373,350  
  1 

For the period December 15, 2022 (commencement of operations) through March 31, 2023.

The following represents the percentage of dividends paid during the fiscal year or period ended March 31, 2023, that qualify for the 70% dividends received deduction for corporate shareholders:

 

   
Fund    Dividends-Received
Deduction
 

U.S. AI Enhanced Value Fund

     100.00

U.S. ESG Fund

     100.00

U.S. Growth & Momentum Fund

     100.00

U.S. High Dividend Fund

     100.00

U.S. LargeCap Dividend Fund

     100.00

U.S. LargeCap Fund

     100.00

U.S. MidCap Dividend Fund

     100.00

U.S. MidCap Fund

     100.00

U.S. Multifactor Fund

     100.00

U.S. Quality Dividend Growth Fund

     100.00

U.S. Quality Growth Fund1

      

U.S. SmallCap Dividend Fund

     100.00

U.S. SmallCap Fund

     100.00

U.S. SmallCap Quality Dividend Growth Fund

     100.00

U.S. Total Dividend Fund

     100.00

U.S. Value Fund

     100.00
  1 

For the period December 15, 2022 (commencement of operations) through March 31, 2023.

 

154   WisdomTree Trust


Trustees and Officers Information (unaudited)

 

Name
and Year of Birth
of Trustee/Officer

 

Position(s) Held with

the Trust, Term of

Office and Length
of Time Served

 

Principal Occupation(s)

During Past 5 Years

  Number of Portfolios
in Fund Complex
Overseen by Trustee/
Officer+
   

Other

Directorships

Held by Trustee

Trustees Who Are Interested Persons of the Trust

Jonathan Steinberg
(1964)
  Trustee, 2005- present; President, 2005-present   Chief Executive Officer, WisdomTree and WisdomTree Asset Management since 2005; President, WisdomTree and WisdomTree Asset Management from 2012 to 2019.     80     Director, WisdomTree and WisdomTree Asset Management.

Trustees Who Are Not Interested Persons of the Trust

David G. Chrencik*
(1948)
  Trustee, 2014-present   Chief Financial Officer of Sarus Indochina Select LP (hedge fund) since 2012; Chief Financial Officer of GeoGreen BioFuels, Inc. (biodiesel fuel producer) from 2010 to 2014; Audit Partner at PricewaterhouseCoopers LLP (public accounting firm) from 1972 to 2009 (includes positions prior to becoming Audit Partner and predecessor firms).     80     None
Joel Goldberg**, ***
(1945)
  Trustee, 2012-present   Attorney, Partner at Stroock & Stroock & Lavan LLP from 2010 to 2018; Attorney, Partner at Willkie Farr & Gallagher LLP from 2006 to 2010.     80     Director, Better Business Bureau (Metropolitan New York, Long Island and the Mid-Hudson Region).
Toni Massaro***
(1955)
  Trustee, 2006-present   Dean Emerita at the University of Arizona James E. Rogers College of Law (“Rogers College of Law”) since 2009 (distinguished Emerita in July 2009); Dean of the Rogers College of Law from 1999 to 2009; Regents’ Professor since 2006; Milton O. Riepe Chair in Constitutional Law since 1997; Professor at the Rogers College of Law since 1990.     80     None

Melinda A. 
Raso Kirstein****

(1955)

  Trustee, 2014-present   Retired since 2004, Merrill Lynch Investment Management, Vice President; Senior Portfolio Manager, Fixed Income Management; Director, Tax Exempt Fund Management.     80     Associate Alumnae of Douglass College, Chair of Investment Committee.
Victor Ugolyn
(1947)
  Trustee, 2006-present; Chairman of the Board, 2006-present   Private Investor, from 2005 to present; President and Chief Executive Officer of William D. Witter, Inc. from 2005 to 2006; Consultant to AXA Enterprise in 2004; Chairman, President and Chief Executive Officer of Enterprise Capital Management (subsidiary of The MONY Group, Inc.) and Enterprise Group of Funds, Chairman of MONY Securities Corporation, and Chairman of the Fund Board of Enterprise Group of Funds from 1991 to 2004.     80     None

 

 

WisdomTree Trust      155  


Trustees and Officers Information (unaudited) (concluded)

 

Name
and Year of Birth
of Trustee/Officer

 

Position(s) Held with

the Trust, Term of

Office and Length
of Time Served

 

Principal Occupation(s)

During Past 5 Years

  Number of Portfolios
in Fund Complex
Overseen by Trustee/
Officer+
   

Other

Directorships

Held by Trustee

Officers of the Trust

Jonathan 
Steinberg*****

(1964)

 

President, 2005-

present; Trustee, 2005-present

  Chief Executive Officer, WisdomTree and WisdomTree Asset Management since 2005; President, WisdomTree and WisdomTree Asset Management from 2012 to 2019.     80     See Interested
Trustees Table
Above.

David Castano*****

(1971)

  Treasurer, 2013-present   Head of Fund Accounting & Administration, WisdomTree Asset Management, since 2020; Director of Fund Accounting & Administration, WisdomTree Asset Management, 2011 to 2020.     80     None

Terry Jane Feld*****

(1960)

  Chief Compliance Officer, 2012-present   Head of U.S. Compliance, WisdomTree Asset Management since 2022; Chief Compliance Officer WisdomTree Asset Management since 2012.     80     None

Joanne Antico*****

(1975)

  Chief Legal Officer and Secretary, 2021-present   General Counsel, WisdomTree Asset Management since 2021; Assistant General Counsel, WisdomTree Asset Management 2016 to 2021; Executive Director and Assistant Secretary, Morgan Stanley Investment Management Inc., 2005 to 2016.     80     None

TJ Darnowski *****

(1984)

  Assistant Secretary, 2021-present   Senior Investment Management Paralegal, WisdomTree Asset Management since 2021; Senior Legal Administrator, Ultimus Fund Solutions, 2019-2021; Assistant Vice President, State Street Bank & Trust Company, 2010 to 2019.     80     None

Clint Martin*****

(1977)

  Assistant Treasurer, 2015-present   Director of Fund Accounting & Administration, WisdomTree Asset Management, since 2020; Fund Manager, Fund Accounting & Administration, WisdomTree Asset Management, 2012 to 2020.     80     None

Angela Borreggine*****

(1964)

  Assistant Secretary, 2021-present   Assistant General Counsel, WisdomTree Asset Management since 2022; Vice President and Senior Counsel, Virtus Investment Partners, 2021-2022; Director, Senior Counsel, Allianz Global Investors, 2007-2021.     80     None

 

+

As of March 31, 2023.

 

*

Chair of the Audit Committee.

 

**

Chair of the Contracts Review Committee.

 

***

Co-Chair of the Governance, Nominating and Compliance Committee.

 

****

Chair of the Investment Committee.

 

*****

Elected by and serves at the pleasure of the Board.

 

156   WisdomTree Trust


General Information (unaudited)

 

Proxy Voting Policies, Procedures and Record

A complete copy of the Proxy Voting Policy may be obtained upon request, at no charge, by calling 1-866-909-WISE (9473) or writing to: WisdomTree Trust, c/o Foreside Fund Services, LLC, Three Canal Plaza Suite 100, Portland, ME, 04101.

The Trust is required to disclose annually the Funds’ complete proxy voting record on Form N-PX covering the most recent 12-month period ended June 30 and to file Form N-PX with the SEC no later than August 31 of each year. The current Form N-PX for the Funds is available at no charge upon request by calling 1-866-909-WISE (9473) or through the SEC’s website at www.sec.gov.

Shareholder Reports and Quarterly Portfolio Disclosure

The Funds file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters as an exhibit to their reports on Form N-PORT. Copies of the filings are available, without charge, on the SEC’s website at www.sec.gov and are also available by calling the Trust at 1-866-909-WISE (9473). Copies of the filings may also be obtained, after paying a duplicating fee, by electronic request at the following E-mail address: publicinfo@sec.gov.

Information about each Fund’s portfolio holdings is available daily, without charge, at www.wisdomtree.com/investments.

The Statement of Additional Information (“SAI”) has additional information about the Funds’ Trustees and Officers and is available without charge upon request. Contact your financial representative for a free prospectus or SAI.

Frequency Distribution of Discounts & Premiums

Information about differences between the per share net asset value of each Fund and the market trading price of shares of each Fund are available, without charge, at www.wisdomtree.com/investments.

 

WisdomTree Trust      157  


The WisdomTree Funds are exchange traded funds (“ETFs”) registered with the United States Securities and Exchange Commission as separate series (“Funds”) of WisdomTree Trust (“Trust”). WisdomTree Asset Management, Inc., a wholly owned subsidiary of WisdomTree, Inc., serves as the investment adviser to the Trust. None of the WisdomTree entities are affiliated with Foreside Fund Services, LLC, the Funds’ distributor. WisdomTree, Inc., its affiliates and their independent providers are not liable for any informational errors, incompleteness, delays, or for any actions taken in reliance on information contained herein.

There are risks associated with investing, including possible loss of principal. Funds focusing their investments on certain sectors and/or smaller companies increase their vulnerability to any single economic or regulatory development. This may result in greater share price volatility. Dividends are not guaranteed, and a company currently paying dividends may cease paying dividends at any time. An ESG Fund’s ESG investment strategy limits the types and number of investment opportunities available to the Fund and, as a result, the Fund may underperform other funds that do not have an ESG focus. Companies selected for inclusion in an ESG Fund may not exhibit positive or favorable ESG characteristics at all times and may shift into and out of favor depending on market and economic conditions. Due to the investment strategy of certain Funds they may make higher capital gain distributions than other ETFs. Please read the Fund’s prospectus for specific details regarding the Fund’s risk profile.

Indexes are unmanaged and you cannot invest directly in an index.

Transactions in Fund shares will result in brokerage commissions and will generate tax consequences. Shares may be sold through brokerage accounts, but may be redeemed from the Funds only by Authorized Participants in large creation unit sizes of shares.

This report is intended for the Funds’ shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.


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WisdomTree Fund shares are distributed by Foreside Fund Services, LLC, in the U.S.

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WisdomTree Trust

Annual Report

March 31, 2023

 

WisdomTree Europe Quality Dividend Growth Fund (EUDG)

WisdomTree Europe SmallCap Dividend Fund (DFE)

WisdomTree International AI Enhanced Value Fund (AIVI)

WisdomTree International Equity Fund (DWM)

WisdomTree International High Dividend Fund (DTH)

WisdomTree International LargeCap Dividend Fund (DOL)

WisdomTree International MidCap Dividend Fund (DIM)

WisdomTree International Multifactor Fund (DWMF)

WisdomTree International Quality Dividend Growth Fund (IQDG)

WisdomTree International SmallCap Dividend Fund (DLS)

WisdomTree Japan SmallCap Dividend Fund (DFJ)


Table of Contents

 

Market Environment Overview (unaudited)

       1  

Information about Performance and Shareholder Expense Examples (unaudited)

       3  

Management’s Discussion of Funds’ Performance (unaudited)

       4  

Description of Terms and Indexes (unaudited)

       15  
Schedules of Investments     

WisdomTree Europe Quality Dividend Growth Fund

       18  

WisdomTree Europe SmallCap Dividend Fund

       21  

WisdomTree International AI Enhanced Value Fund

       26  

WisdomTree International Equity Fund

       29  

WisdomTree International High Dividend Fund

       40  

WisdomTree International LargeCap Dividend Fund

       47  

WisdomTree International MidCap Dividend Fund

       51  

WisdomTree International Multifactor Fund

       58  

WisdomTree International Quality Dividend Growth Fund

       63  

WisdomTree International SmallCap Dividend Fund

       67  

WisdomTree Japan SmallCap Dividend Fund

       77  

Statements of Assets and Liabilities

       86  

Statements of Operations

       89  

Statements of Changes in Net Assets

       92  

Financial Highlights

       96  

Notes to Financial Statements

       102  

Report of Independent Registered Public Accounting Firm

       117  

Liquidity Risk Management Program (unaudited)

       119  

Trustees and Officers Information (unaudited)

       120  

Supplemental Information (unaudited)

       122  

General Information (unaudited)

       123  

“WisdomTree” is a registered mark of WisdomTree, Inc. (formerly, WisdomTree Investments, Inc.) and is licensed for use by the WisdomTree Trust.


Market Environment Overview

(unaudited)

 

Developed international equity markets, as measured by the MSCI EAFE Index, were roughly flat for the 12-month fiscal year ending March 31, 2023 (the “period”), returning only -1.38% in U.S. dollar (USD) terms despite significant volatility at certain points.

Developed market currencies steadily weakened versus the USD during the period, as an aggressive rate hike campaign by the Federal Reserve in the U.S. created a policy gap that bolstered the USD and weighed on others whose central banks were not keeping pace. The USD also likely benefited due to its perceived status as a global safe-haven currency during market turmoil. The euro steadily weakened against the USD during the period, weakening by about 2.06%. Although not in Europe, this effect was even more pronounced in the Japanese yen, which is being suppressed by the Bank of Japan in attempt to stimulate economic growth while the rest of the global economy is overheating. The yen weakened by more than 8% versus the USD, though it fell even further during the fall of 2022 before slightly bouncing back. The British pound sterling (GBP) also struggled, weakening by over 6% versus the USD. The lone currency that strengthened among the G10 basket of currencies was the Swiss franc, another beneficiary of safe-haven status during periods of market stress, which rose by about 0.8%.

Similar to the rest of the world, developed international equity markets embarked on a protracted battle against record inflation and strong labor markets for most of calender year 2022, after record monetary and fiscal stimulus to support the post-pandemic economic recovery. Risk-off sentiment from the U.S. Federal Reserve’s campaign to combat inflation migrated to developed markets, and the MSCI EAFE plummeted by 14.5% in USD terms. The European Central Bank (ECB) held its benchmark refinancing rate at 0% during the quarter, but investors quickly surmised that it would soon have to act swiftly and decisively to combat inflation climbing into the 7-8% range. For context, the ECB has held rates at 0% in effort to stimulate economic growth since about 2016, and has held year-over-year inflation under 2% since roughly 2013, so these developments marked a significant paradigm shift. As the largest component of the developed market universe, Eurozone GDP grew 0.7% during the quarter.

Inflation neared its peak during the June to September quarter, reaching 9.9% year-over-year and marking the beginning of what would become five straight months of inflation in the 9-10% range. This weighed on market sentiment, especially as the ECB started to combat it by raising rates 1.25% from 0%. The MSCI EAFE Index fell 9.36% in USD terms, following broader market sentiment around the world with regional indexes heading deeper toward bear market territory. Eurozone gross domestic product (GDP) growth was relatively muted during the quarter at 0.3%.

After two straight quarters of deep declines, the final quarter of 2022 provided some optimism. Europe began to see disinflationary pressures materialize as inflation rolled off its 10.6% high in October. With signs of the ECB’s rate hike effort working so far, this provided a welcome respite to developed market investors, and the MSCI EAFE Index returned 17.34% in USD terms. Eurozone GDP growth was flat during the quarter, slightly declining by 0.1%. Continuing its fight against inflation, the ECB hiked another 1.25% to bring its refinancing rate up to 2.5% by the end of 2022.

Optimism from the end of 2022 continued into the first quarter of 2023, the final quarter of the fiscal period. Disinflation continued in Europe, falling from 9.2% down to 6.9% through March, as the ECB slowed the pace of its rate hike campaign. During the quarter, it raised rates only 1% between two 50 basis point hikes to conclude the period at 3.5%. Rates have not been this high since late 2008 amid a policy rate easing campaign during the Global Financial Crisis. Markets began to believe the end of the fight against inflation was in sight, and the MSCI EAFE Index returned 8.47% in USD terms. The quarter finished on a resounding note, despite fears of a banking crisis originating in the U.S. spreading overseas. Credit Suisse faced major solvency issues but crisis was averted after regulators helped facilitate a sale to UBS to stabilize the banking system, which appeased markets and contributed to the strong finish.

 

WisdomTree Trust      1  


Market Environment Overview

(unaudited) (concluded)

 

Entering the new fiscal year, many of these risk factors remain paramount, and global financial market performance will be heavily dependent continued improvement in the global banking sector and economic data releases, due to their influence on the future path of monetary policy.

Each WisdomTree Fund’s performance as set forth in “Management’s Discussion of Funds’ Performance” in the pages that follow should also be viewed in light of the foregoing market environment.

 

2   WisdomTree Trust


Information about Performance and Shareholder Expense Examples (unaudited)

Performance

The performance tables on the following pages are provided for comparative purposes and represent the period noted. Each Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market price return is based on the market price per share of the Fund. The price used to calculate market price returns is the midpoint of the bid and ask price for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other exchange traded funds (“ETFs”), NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors’ assessments of the underlying value of a Fund’s portfolio securities.

Fund shares are bought and sold at market price (not NAV) and are not individually redeemed from a Fund. Fund NAV returns are calculated using a Fund’s daily 4:00 p.m. eastern time NAV. Market price returns reflect the midpoint of the bid and ask price as of the close of trading on the exchange where Fund shares are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.

Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For the most recent month-end performance information visit www.wisdomtree.com/investments.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore, index returns do not reflect deductions for fees or expenses and an index is not available for direct investment. In comparison, the Funds’ performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or taxes that a shareholder would pay on Fund distributions. Past performance is no guarantee of future results.

Shareholder Expense Examples

Each Fund’s performance table is accompanied by a shareholder expense example. As a shareholder of a WisdomTree Fund, you incur two types of cost: (1) transaction costs, including brokerage commissions on purchases and sales of your Fund shares and (2) ongoing costs, including management fees and other Fund expenses. The examples are intended to help you understand your ongoing costs (in dollars and cents) of investing in a Fund and to compare these costs with the ongoing costs of investing in other funds.

The examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire period from October 1, 2022 to March 31, 2023. Except where noted, expenses are calculated using each Fund’s annualized expense ratio (after the effect of contractual or voluntary fee waivers, if any), multiplied by the average account value for the period, multiplied by 182/365 (to reflect the one-half year period). The annualized expense ratio does not include acquired fund fees and expenses (“AFFEs”), which are fees and expenses incurred indirectly by a Fund through its investments in certain underlying investment companies.

Actual expenses

The first line in the shareholder expense example table shown on the following pages provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line for your Fund under the heading entitled “Expenses Paid During the Period” to estimate the expenses you paid on your account during the period.

Hypothetical example for comparison purposes

The second line in the shareholder expense example table shown on the following pages provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in your Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions paid on purchases and sales of Fund shares. Therefore, the second line in the table is useful in comparing ongoing Fund costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

 

WisdomTree Trust      3  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree Europe Quality Dividend Growth Fund (EUDG)

 

Sector Breakdown

 

Sector   % of Net Assets  

Health Care

    18.6%  

Consumer Staples

    18.1%  

Industrials

    17.4%  

Consumer Discretionary

    16.4%  

Financials

    8.5%  

Information Technology

    7.2%  

Communication Services

    6.0%  

Materials

    3.5%  

Utilities

    2.4%  

Energy

    0.7%  

Real Estate

    0.6%  

Other Assets less Liabilities‡

    0.6%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

LVMH Moet Hennessy Louis Vuitton SE

    6.0%  

Novartis AG, Registered Shares

    4.4%  

Nestle SA, Registered Shares

    3.6%  

Sanofi

    3.3%  

Deutsche Telekom AG, Registered Shares

    3.1%  

Industria de Diseno Textil SA

    2.9%  

British American Tobacco PLC

    2.9%  

GSK PLC

    2.8%  

Roche Holding AG

    2.8%  

Unilever PLC

    2.7%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Europe Quality Dividend Growth Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Europe Quality Dividend Growth Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying companies with growth characteristics in the European equity market. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -1.64% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in Consumer Discretionary and Real Estate due to a mix of allocation and stock selection effects in each. Consumer Staples and Health Care dragged on performance as a result of poor stock selection impacts. Although high quality stocks benefited in the U.S. last year, the same result was not evident in Europe. When analyzing performance by return-on-equity quintiles, the results are mixed. Overweighting higher-quality companies was additive within certain quintiles and negative in others. The same can be said for underweighting lower-quality companies, where it was beneficial in certain groups and but detracted in other segments.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,294.10        0.59   $ 3.37  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,021.99        0.59   $ 2.97  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.58% and the actual and hypothetical expenses paid during the period would have been $3.34 and $2.95, respectively.

Performance

 

   
      Average Annual Total Return  
      1 Year     3 Year     5 Year     Since Inception1  

Fund NAV Returns

     -1.64     13.90     5.65     4.49

Fund Market Price Returns

     -1.02     14.39     5.55     4.45

WisdomTree Europe Quality Dividend Growth Index

     -1.28     14.48     6.17     5.00

MSCI Europe Index

     1.38     15.00     4.35     3.17
1 

Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on May 7, 2014.

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

4   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree Europe SmallCap Dividend Fund (DFE)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    26.7%  

Consumer Discretionary

    14.8%  

Financials

    14.1%  

Materials

    13.8%  

Information Technology

    6.5%  

Real Estate

    6.2%  

Consumer Staples

    6.0%  

Energy

    4.1%  

Health Care

    2.9%  

Communication Services

    2.7%  

Utilities

    1.1%  

Investment Company

    0.0%

Other Assets less Liabilities‡

    1.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

 

*

Represents less than 0.1%.

Top Ten Holdings*

 

Description   % of Net Assets  

SSAB AB, Class A

    3.2%  

D/S Norden A/S

    1.9%  

Sydbank A/S

    1.3%  

Konecranes Oyj

    1.3%  

Redrow PLC

    1.2%  

MPC Container Ships ASA

    1.1%  

Pagegroup PLC

    1.1%  

Kloeckner & Co. SE

    1.1%  

Lenzing AG

    1.0%  

Outokumpu Oyj

    1.0%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Europe SmallCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Europe SmallCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying small-cap companies in the European equity market. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -8.50% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from positions in Communication Services and Materials, primarily due to stock selection effects. Industrials and Energy weighed on performance, again due to stock selection. Due to the Fund’s focus on allocating more to European small caps that pay greater dividends, there was a positive allocation effect from the top quintile of payers, since that group was overweighted and outperformed during the fiscal year. Avoiding non-payers ultimately had a negative impact on performance, as non-payers rallied toward the end of the fiscal year and the Fund was not able to benefit.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,294.60        0.66   $ 3.78  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,021.64        0.66   $ 3.33  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.58% and the actual and hypothetical expenses paid during the period would have been $3.34 and $2.94, respectively.

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       -8.50      16.79      0.54      7.08

Fund Market Price Returns

       -7.33      17.26      0.43      7.14

WisdomTree Europe SmallCap Dividend Index

       -8.80      17.16      0.86      7.68

MSCI Europe Small Cap Index

       -11.20      13.93      1.30      6.82

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      5  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree International AI Enhanced Value Fund (AIVI)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    23.9%  

Industrials

    12.4%  

Consumer Staples

    10.9%  

Materials

    10.4%  

Health Care

    8.6%  

Real Estate

    8.2%  

Utilities

    6.7%  

Communication Services

    5.1%  

Consumer Discretionary

    4.6%  

Energy

    3.9%  

Information Technology

    3.3%  

Investment Company

    0.5%  

Other Assets less Liabilities‡

    1.5%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Koninklijke Philips NV

    3.5%  

Enagas SA

    3.2%  

HeidelbergCement AG

    3.2%  

Swiss Re AG

    2.9%  

Aviva PLC

    2.9%  

M&G PLC

    2.8%  

Henkel AG & Co. KGaA

    2.7%  

Phoenix Group Holdings PLC

    2.7%  

Holcim AG, Registered Shares

    2.6%  

Publicis Groupe SA

    2.5%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree International AI Enhanced Value Fund (the “Fund”) seeks income and capital appreciation by investing primarily in equity securities selected from a universe of developed market equities, excluding the United States and Canada, that exhibit value characteristics based on the selection results of a proprietary, quantitative artificial intelligence (AI) model developed by Voya Investment Management Co., LLC., the Fund’s sub-adviser. Prior to January 18, 2022, Fund performance reflects the investment objective of the Fund when it was the WisdomTree International Dividend ex-Financials Fund and tracked the price and yield performance, before fees and expenses, of the WisdomTree International Dividend ex-Financials Index (the “Former Index”). In seeking to track the Former Index, the Fund invested in high-dividend-yielding companies in the developed world excluding the U.S. and Canada, and excluding the financials sector.

The Fund returned 0.80% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). As an AI-driven actively managed fund, the portfolio positioning underwent changes throughout the year. In fiscal Q1, significant returns were contributed by allocations to small caps with quality factor characteristics, while allocations to ‘deep-value’ mid-caps detracted. Shifting to Q2, the factor exposures transitioned to a combination of value and low volatility, with a small allocation to growth-oriented stocks that outperformed while much of the rest of the portfolio lagged. However, selection and allocation effects within the Energy and Utilities sectors were major detractors. Moving into Q3, the fund benefited from security selection in the Energy and Communications Services sectors, while selection within Utilities, Health Care, and Information Technology drove relative underperformance. Furthermore, reducing exposure to the momentum factor had positive effects. As the fiscal year concluded, the fund’s security selection in Materials and Communication Services sectors resulted in relative outperformance in Q4, although there were some detracting effects from selection within Industrials. Despite fluctuations and periods of underperformance earlier in the year, the fund rebounded in Q3 and Q4 to end the fiscal year performing in line with the market.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,285.80        0.59   $ 3.36  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,021.99        0.59   $ 2.97  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.58% and the actual and hypothetical expenses paid during the period would have been $3.33 and $2.95, respectively.

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns1

       0.80      12.24      2.48      3.56

Fund Market Price Returns1

       1.74      12.55      2.38      3.56

MSCI EAFE Value Index

       -0.31      14.58      1.75      3.75
1 

The Fund’s investment objective changed effective January 18, 2022. Prior to January 18, 2022, the Fund’s investment objective sought to track the price and yield performance, before fees and expenses, of the WisdomTree International Dividend ex-Financials Index.

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

6   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree International Equity Fund (DWM)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    21.1%  

Industrials

    12.8%  

Materials

    11.3%  

Consumer Discretionary

    10.4%  

Consumer Staples

    8.9%  

Health Care

    8.1%  

Communication Services

    7.0%  

Energy

    6.5%  

Utilities

    5.1%  

Real Estate

    4.3%  

Information Technology

    3.4%  

Other Assets less Liabilities‡

    1.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

BHP Group Ltd.

    3.7%  

Nestle SA, Registered Shares

    1.7%  

Novartis AG, Registered Shares

    1.7%  

Shell PLC

    1.6%  

LVMH Moet Hennessy Louis Vuitton SE

    1.5%  

TotalEnergies SE

    1.4%  

HSBC Holdings PLC

    1.4%  

Rio Tinto Ltd.

    1.2%  

Roche Holding AG

    1.0%  

Mercedes-Benz Group AG

    0.9%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree International Equity Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree International Equity Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying companies in the developed world excluding the U.S. and Canada. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -1.55% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). From a sector perspective, no individual sectors made outsized positive or negative contributions, with most resulting in fewer than 10 basis points of outperformance or underperformance. The same can be said for country allocations. There were more significant impacts from dividend quintiles, where the Fund’s emphasis on overweighting larger dividend-payers was additive for performance, along with avoiding those that do not pay dividends. Certain quintiles, such as the third and fourth (representing groups of average-to-relatively smaller dividend-payers), had idiosyncratic effects that weighed on performance, which was evinced through negative stock selection effects.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,251.30        0.49   $ 2.75  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.49        0.49   $ 2.47  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.48% and the actual and hypothetical expenses paid during the period would have been $2.72 and $2.44, respectively.

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       -1.55      12.12      1.96      4.17

Fund Market Price Returns

       -1.01      12.35      1.85      4.10

WisdomTree International Equity Index

       -1.33      12.53      2.18      4.40

MSCI EAFE Index

       -1.38      12.99      3.52      5.00

MSCI EAFE Value Index

       -0.31      14.58      1.75      3.75

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      7  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree International High Dividend Fund (DTH)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    24.0%  

Materials

    15.8%  

Utilities

    8.8%  

Industrials

    8.6%  

Energy

    8.1%  

Communication Services

    7.8%  

Consumer Discretionary

    7.4%  

Health Care

    7.3%  

Real Estate

    6.3%  

Consumer Staples

    3.9%  

Information Technology

    0.5%  

Investment Company

    0.3%  

Other Assets less Liabilities‡

    1.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

BHP Group Ltd.

    5.8%  

Novartis AG, Registered Shares

    3.3%  

TotalEnergies SE

    2.9%  

Rio Tinto Ltd.

    2.4%  

HSBC Holdings PLC

    2.0%  

Mercedes-Benz Group AG

    1.8%  

Hapag-Lloyd AG

    1.5%  

British American Tobacco PLC

    1.4%  

BP PLC

    1.4%  

Sanofi

    1.4%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree International High Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree International High Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in high-dividend-yielding companies in the developed world excluding the U.S. and Canada. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned 0.01% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from positions in Financials and Industrials, entirely due to stock selection effects. Materials and Consumer Discretionary weighed on performance via negative allocation effects, due to overweighting the former when it lagged the market and underweighting the latter when it outperformed. Japan and Switzerland were the two greatest country contributors due to positive stock selection, while the Netherlands and Australia lagged. Australia was overweighted when it subsequently underperformed, resulting in a negative allocation effect, while the Netherlands’ adverse impact was due to a combination of stock selection and allocation effects. The Fund’s emphasis on companies paying large dividends in the developed international universe was generally positive, as it was heavily overweight the top two quintiles of dividend-paying companies, both of which outperformed and resulted in positive allocation effects.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,264.30        0.58   $ 3.27  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.04        0.58   $ 2.92  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio, actual and hypothetical expenses paid during the period would have been unchanged.

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       0.01      13.95      2.01      3.66

Fund Market Price Returns

       0.55      14.27      1.89      3.62

WisdomTree International High Dividend Index

       0.26      14.43      2.31      3.95

MSCI EAFE Value Index

       -0.31      14.58      1.75      3.75

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

8   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree International LargeCap Dividend Fund (DOL)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    22.5%  

Consumer Discretionary

    10.8%  

Materials

    10.6%  

Consumer Staples

    10.1%  

Health Care

    10.0%  

Industrials

    9.9%  

Energy

    7.9%  

Communication Services

    7.6%  

Utilities

    5.1%  

Information Technology

    2.5%  

Real Estate

    1.8%  

Investment Company

    0.1%  

Other Assets less Liabilities‡

    1.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

BHP Group Ltd.

    5.1%  

Novartis AG, Registered Shares

    2.3%  

Nestle SA, Registered Shares

    2.3%  

LVMH Moet Hennessy Louis Vuitton SE

    2.2%  

Shell PLC

    2.1%  

TotalEnergies SE

    2.0%  

HSBC Holdings PLC

    1.9%  

Rio Tinto Ltd.

    1.6%  

Roche Holding AG

    1.5%  

Mercedes-Benz Group AG

    1.2%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree International LargeCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree International LargeCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying large-cap companies in the developed world excluding the U.S. and Canada. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -0.05% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from positions in Financials, Communication Services, and Real Estate, owing to positive stock selection impacts in each. Health Care weighed on performance due to poor stock selection, while Materials hurt performance due to the allocation effect, resulting from overweighting a lagging sector. Japan and Germany contributed positively at the country level due to positive stock selection, while the Netherlands and Australia both detracted, due to underweighting the former when it outperformed and overweighting the latter when it underperformed. Within the international large cap space, overweighting the top two quintiles of dividend-payers was additive, resulting in positive allocation effects.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,260.50        0.49   $ 2.76  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.49        0.49   $ 2.47  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.48% and the actual and hypothetical expenses paid during the period would have been $2.73 and $2.44, respectively.

Performance

 

   
      Average Annual Total Return  
      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

     -0.05      12.50      2.70      4.01

Fund Market Price Returns

     0.82      12.73      2.59      3.99

WisdomTree International LargeCap Dividend Index

     0.11      12.83      2.94      4.28

MSCI EAFE Index

     -1.38      12.99      3.52      5.00

MSCI EAFE Value Index

     -0.31      14.58      1.75      3.75

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      9  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree International MidCap Dividend Fund (DIM)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    19.9%  

Financials

    17.8%  

Materials

    13.8%  

Real Estate

    12.1%  

Consumer Discretionary

    7.8%  

Communication Services

    6.3%  

Utilities

    6.2%  

Consumer Staples

    5.6%  

Information Technology

    4.3%  

Energy

    3.1%  

Health Care

    2.2%  

Other Assets less Liabilities‡

    0.9%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

South32 Ltd.

    1.4%  

Nippon Yusen KK

    1.2%  

Mitsui OSK Lines Ltd.

    0.9%  

Power Assets Holdings Ltd.

    0.9%  

ICL Group Ltd.

    0.8%  

OCI NV

    0.8%  

Koninklijke KPN NV

    0.7%  

Randstad NV

    0.7%  

ACS Actividades de Construccion y Servicios SA

    0.7%  

Poste Italiane SpA

    0.6%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree International MidCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree International MidCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying mid-cap companies in the developed world excluding the U.S. and Canada. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -5.68% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in Industrials, Financials, and Consumer Staples, primarily due to positive stock selection. Communication Services and Utilities weighed on performance due to poorer stock selection. Japan and Switzerland contributed the most positively from a country standpoint, while the Netherlands and Australia detracted. All four were due to stock selection effects. Within the international midcap space, performance attribution by dividend quintiles was more mixed, owing to stock selection effects within each of the five quintiles.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,239.80        0.59   $ 3.29  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,021.99        0.59   $ 2.97  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.58% and the actual and hypothetical expenses paid during the period would have been $3.26 and $2.95, respectively.

Performance

 

   
      Average Annual Total Return  
      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

     -5.68      11.34      0.39      4.50

Fund Market Price Returns

     -4.60      11.80      0.29      4.50

WisdomTree International MidCap Dividend Index

     -5.58      11.72      0.77      4.90

MSCI EAFE Mid Cap Index

     -6.23      11.07      1.46      5.14

MSCI EAFE Mid Cap Value Index

     -4.65      12.46      0.60      4.80

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

10   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree International Multifactor Fund (DWMF)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    17.8%  

Consumer Staples

    15.9%  

Financials

    14.5%  

Communication Services

    10.4%  

Health Care

    9.5%  

Utilities

    8.1%  

Consumer Discretionary

    6.9%  

Energy

    5.2%  

Materials

    4.8%  

Real Estate

    4.2%  

Information Technology

    2.4%  

Other Assets less Liabilities‡

    0.3%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

National Grid PLC

    2.2%  

Novartis AG, Registered Shares

    2.1%  

Deutsche Telekom AG, Registered Shares

    1.9%  

ANZ Group Holdings Ltd.

    1.8%  

Toshiba Corp.

    1.8%  

Sanofi

    1.7%  

Swisscom AG, Registered Shares

    1.5%  

BHP Group Ltd.

    1.5%  

Jeronimo Martins SGPS SA

    1.4%  

TotalEnergies SE

    1.4%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree International Multifactor Fund (the “Fund”) seeks capital appreciation by investing primarily in equity securities of developed countries, excluding the U.S. and Canada, with the highest composite scores based on two fundamental factors, value and quality measures, and two technical factors, momentum and correlation. The Fund seeks to manage its currency risk by dynamically hedging currency fluctuations in the relative value of the applicable international currencies against the U.S. dollar, ranging from a 0% to 100% hedge.

The Fund returned 2.76% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its exposures to the Consumer Discretionary, Communication Services, and Financials sectors, primarily due to stock selection effects. The Fund was negatively impacted by its exposure to the Information Technology sector due to both allocation and stock selection effects, as well as its exposure to the Energy sector, primarily due to stock selection effects. In terms of country exposures, the Fund’s allocations to companies in France and Japan drove much of its returns. The Fund’s overexposure to companies with the highest dividend yields and underexposure to those with zero dividend yields were also major drivers of the Fund’s performance. The Fund also benefited from being currency-hedged during the period, as broad strength in the U.S. dollar versus most other developed market currencies would have otherwise weighed on Fund performance.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,168.90        0.39   $ 2.11  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.99        0.39   $ 1.97  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.38% and the actual and hypothetical expenses paid during the period would have been $2.08 and $1.94, respectively.

Performance

 

   
      Average Annual Total Return  
      1 Year      3 Year      Since Inception1  

Fund NAV Returns

     2.76      9.70      3.27

Fund Market Price Returns

     3.50      9.59      3.34

MSCI EAFE Local Currency Index

     3.84      14.63      5.70

MSCI EAFE Index

     -1.38      12.99      4.13
1 

Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on August 10, 2018.

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      11  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree International Quality Dividend Growth Fund (IQDG)

 

Sector Breakdown

 

Sector   % of Net Assets  

Consumer Discretionary

    20.9%  

Consumer Staples

    18.9%  

Health Care

    18.3%  

Industrials

    14.7%  

Information Technology

    11.7%  

Financials

    4.7%  

Communication Services

    3.6%  

Materials

    2.6%  

Utilities

    2.1%  

Energy

    1.1%  

Real Estate

    1.0%  

Other Assets less Liabilities‡

    0.4%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

LVMH Moet Hennessy Louis Vuitton SE

    6.2%  

Unilever PLC

    4.4%  

Nestle SA, Registered Shares

    4.0%  

Novartis AG, Registered Shares

    4.0%  

Industria de Diseno Textil SA

    3.9%  

GSK PLC

    3.8%  

Novo Nordisk A/S, Class B

    3.1%  

L’Oreal SA

    3.0%  

SAP SE

    2.9%  

ASML Holding NV

    2.7%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree International Quality Dividend Growth Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree International Quality Dividend Growth Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying companies with growth characteristics in the developed world excluding the U.S. and Canada. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -4.85% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from positions in Real Estate, Communication Services, and Consumer Discretionary. Real Estate’s impact was a result of the allocation effect, where the sector was underweighted and subsequently underperformed the market. The latter two sectors contributed positively due to strong stock selection. Materials was a headwind, as the Fund was overweight and underperforming sector, resulting in a negative allocation effect that was compounded by poor stock selection. Spain and France were positive contributors at the country level, while Switzerland and the United Kingdom detracted. All four countries’ effects were a result of stock selection. Despite quality stocks being rewarded in the U.S. last year, high-quality stocks elsewhere did not have as much success during the period. The performance picture among quintiles ranked by return-on-equity was mixed for the Fund, ultimately due to stock selection effects within each. Lastly, local currency effects also weighed on the Fund, as most currencies in the developed market universe weakened versus the U.S. dollar for much of the fiscal year. During a period where the U.S. dollar steadily trended higher, hedging foreign currency exposures would have been additive.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,283.90        0.43   $ 2.45  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.79        0.43   $ 2.17  
1

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.42% and the actual and hypothetical expenses paid during the period would have been $2.39 and $2.12, respectively.

Performance

 

   
      Average Annual Total Return  
      1 Year      3 Year      5 Year      Since Inception1  

Fund NAV Returns

     -4.85      12.55      4.79      6.95

Fund Market Price Returns

     -3.59      13.07      4.66      7.06

WisdomTree International Quality Dividend Growth Index

     -4.83      12.95      5.15      7.31

MSCI EAFE Index

     -1.38      12.99      3.52      6.62
1 

Total returns are calculated based on the commencement of Fund trading on the Cboe BZX Exchange, Inc. on April 7, 2016.

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

12   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree International SmallCap Dividend Fund (DLS)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    23.9%  

Consumer Discretionary

    13.4%  

Materials

    13.1%  

Financials

    13.1%  

Real Estate

    10.9%  

Information Technology

    7.1%  

Consumer Staples

    5.7%  

Communication Services

    3.7%  

Health Care

    3.6%  

Utilities

    2.0%  

Energy

    2.0%  

Investment Company

    0.3%  

Other Assets less Liabilities‡

    1.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

D/S Norden A/S

    0.9%  

SSAB AB, Class A

    0.8%  

Sims Ltd.

    0.6%  

Coface SA

    0.6%  

Azimut Holding SpA

    0.6%  

Charter Hall Long Wale REIT

    0.6%  

NOS SGPS SA

    0.6%  

Sydbank A/S

    0.5%  

Deterra Royalties Ltd.

    0.5%  

VGP NV

    0.5%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree International SmallCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree International SmallCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying small-cap companies in the developed world excluding the U.S. and Canada. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -7.23% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in Materials, Communication Services, and Industrials, all of which were entirely due to positive stock selection. Utilities and Consumer Staples were a slight drag on performance also due to negative stock selection. At the country-level, Japan and France were additive due to stock selection, while Israel and Australia weighed on performance due to stock selection and allocation effects, respectively. When analyzing performance by dividend quintiles, a combination of allocation and stock selection effects positively contributed to performance within the top two quintiles, representing overweights to larger payers.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,201.10        0.58   $ 3.18  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.04        0.58   $ 2.92  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio, actual and hypothetical expenses paid during the period would have been unchanged.

Performance

 

   
      Average Annual Total Return  
      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

     -7.23      12.20      -0.63      4.54

Fund Market Price Returns

     -6.04      12.62      -0.77      4.56

WisdomTree International SmallCap Dividend Index

     -6.99      13.15      0.33      5.28

MSCI EAFE Small Cap Index

     -9.83      12.07      0.87      5.86

MSCI EAFE Small Cap Value Index

     -7.08      13.44      0.49      5.32

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      13  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    25.7%  

Materials

    16.3%  

Consumer Discretionary

    16.2%  

Information Technology

    12.8%  

Financials

    9.2%  

Consumer Staples

    7.2%  

Health Care

    4.7%  

Communication Services

    2.1%  

Real Estate

    1.8%  

Energy

    1.4%  

Utilities

    0.8%  

Investment Company

    0.2%  

Other Assets less Liabilities‡

    1.6%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Kobe Steel Ltd.

    1.1%  

Cosmo Energy Holdings Co. Ltd.

    0.9%  

Seven Bank Ltd.

    0.6%  

Nippon Steel Trading Corp.

    0.6%  

Nippon Electric Glass Co. Ltd.

    0.6%  

Aozora Bank Ltd.

    0.6%  

Tokyo Seimitsu Co. Ltd.

    0.6%  

Konica Minolta, Inc.

    0.5%  

K’s Holdings Corp.

    0.5%  

Tokyo Ohka Kogyo Co. Ltd.

    0.5%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Japan SmallCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Japan SmallCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying small-cap companies in the Japanese equity market. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned 3.62% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in the Real Estate, Information Technology and Industrials sectors, due to a combination of allocation and stock selection effects in Real Estate and primarily stock selection in the latter two. Consumer Discretionary had a negative impact on performance for the fiscal year, due to poor stock selection, while Consumer Staples also weighed on performance but was relatively modest. The Fund received strong performance contributions by overweighting the higher dividend-paying companies in the Japanese small cap universe while also benefitting from underweighting lower dividend-payers and avoiding non-payers altogether.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,193.90        0.58   $ 3.17  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.04        0.58   $ 2.92  

Performance

 

   
      Average Annual Total Return  
      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

     3.62      7.27      -1.23      5.35

Fund Market Price Returns

     5.33      7.96      -1.38      5.37

WisdomTree Japan SmallCap Dividend Index

     3.94      7.61      -0.82      5.98

MSCI Japan Small Cap Index

     -1.43      6.07      -1.34      5.36

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

14   WisdomTree Trust


Description of Terms and Indexes (unaudited)

Below are descriptions of certain terms and of each Index referenced in this report:

Allocation Effect measures an investment manager’s ability to effectively allocate a portfolio’s assets to various segments. A segment refers to assets or securities that are grouped within a certain classification such as sectors, industries, or countries. The allocation effect determines whether the overweighting or underweighting of segments relative to a benchmark contributes positively or negatively to the overall portfolio return. Positive allocation occurs when the portfolio is overweighted in a segment that outperforms the benchmark and underweighted in a segment that underperforms the benchmark. Negative allocation occurs when the portfolio is overweighted in a segment that underperforms the benchmark and underweighted in a segment that outperforms the benchmark.

Growth is generally characterized by higher price levels relative to fundamentals, such as dividends or earnings. Price levels are higher because investors are willing to pay more due to their expectations of future improvements in these fundamentals.

The MSCI EAFE Index is a market cap-weighted index composed of companies representative of the developed market structure of developed countries in Europe, Australasia and Japan.

The MSCI EAFE Local Currency Index is a free float-adjusted market capitalization weighted index that is designed to measure developed market equity performance, excluding the U.S. and Canada, calculated in local currency.

The MSCI EAFE Mid Cap Index is a free float-adjusted market capitalization index that is designed to measure the performance of mid-capitalization equities in the developed markets, excluding the U.S. and Canada.

The MSCI EAFE Mid Cap Value Index captures mid cap securities exhibiting overall value style characteristics across Developed Markets countries, excluding the U.S. and Canada.

The MSCI EAFE Small Cap Index is a free float-adjusted market capitalization equity index that is designed to measure the performance of small-cap stocks within the developed equity market, excluding the U.S. and Canada.

The MSCI EAFE Small Cap Value Index captures small cap securities exhibiting overall value style characteristics across Developed Markets countries, excluding the U.S. and Canada.

The MSCI EAFE Value Index is a free float-adjusted market capitalization index that is designed to measure the performance of the “value” stocks within the developed equity market, excluding the U.S. and Canada.

The MSCI Europe Index is a free float-adjusted market capitalization index that is designed to measure the performance of large- and mid-cap stocks within developed market European countries.

The MSCI Europe Small Cap Index is a free float-adjusted market capitalization index that is designed to measure the performance of “small” stocks within developed market

European countries.

The MSCI Japan Small Cap Index is a free float-adjusted market capitalization index that

is designed to measure the performance of small cap stocks within Japan.

Quality is generally characterized by higher efficiency and profitability. Typical measures include earnings, return-on-equity, return on assets, operating profitability as well as others. This term is also related to the quality factor, which associates these stock characteristics with excess returns vs. the market over time.

Quintiles refers to separating a universe of companies into five groups of equal size on the basis of dividend yield, price-to-earnings, or return-on-equity, as applicable.

 

WisdomTree Trust      15  


Description of Terms and Indexes (unaudited) (continued)

 

Return-on-Equity (ROE) measures a corporation’s profitability by revealing how much profit a company generates with the money shareholders have invested.

Selection Effect measures an investment manager’s ability to select securities within a given segment relative to a benchmark. The over or underperformance of the portfolio is weighted by the benchmark weight, therefore, selection is not affected by the investment manager’s allocation to the segment. The weight of the segment in the portfolio determines the size of the effect—the larger the segment, the larger the effect is, positive or negative. A positive selection effect occurs when the portfolio return is greater than the benchmark return. Thus, the investment manager made good decisions in selecting securities that, as a whole, outperformed similar securities in the benchmark. A negative selection effect occurs when the portfolio return is less than the benchmark return. Thus, the investment manager made poor decisions in selecting securities that, as a whole, underperformed similar securities in the benchmark.

Volatility is a statistical measure of the dispersion of returns for a given security or market index around a particular average level. If the price stays relatively stable, the security has low volatility. A highly volatile security hits new highs and lows quickly, moves erratically, and has rapid increases and dramatic falls.

The WisdomTree Europe Quality Dividend Growth Index is a fundamentally weighted index that measures the performance of dividend-paying common stocks with growth characteristics selected from the WisdomTree International Equity Index.

The WisdomTree Europe SmallCap Dividend Index is a fundamentally weighted index that measures the performance of the small-capitalization segment of the European dividend-paying market.

The WisdomTree International Dividend ex-Financials Index measures the performance

of high dividend-yielding international stocks outside the financial sector.

The WisdomTree International Equity Index is a fundamentally weighted Index that measures the performance of dividend-paying companies in the industrialized world, excluding Canada and the United States.

The WisdomTree International High Dividend Index is comprised of companies with high dividend yields selected from the WisdomTree International Equity Index.

The WisdomTree International LargeCap Dividend Index is comprised of the large-capitalization segment of the dividend-paying market in the industrialized world outside the U.S. and Canada.

The WisdomTree International MidCap Dividend Index is comprised of the mid-capitalization segment of the dividend-paying market in the industrialized world outside the U.S. and Canada.

The WisdomTree International Quality Dividend Growth Index is a fundamentally weighted index designed to provide exposure to dividend paying developed market

companies.

The WisdomTree International SmallCap Dividend Index is comprised of the small-capitalization segment of the dividend-paying market in the industrialized world outside the U.S. and Canada.

The WisdomTree Japan SmallCap Dividend Index is comprised of dividend-paying

small-capitalization companies in Japan.

The Global Industry Classification Standard (“GICS”) was developed by and is the exclusive property and a service mark of MSCI Inc. (“MSCI”) and Standard & Poor’s (“S&P”), a division of The McGraw-Hill Companies, Inc. and is licensed for use by WisdomTree, Inc. Neither MSCI, S&P nor any other party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or

 

16   WisdomTree Trust


Description of Terms and Indexes (unaudited) (concluded)

any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI’s express written consent.

WisdomTree, Inc. and WisdomTree Asset Management, Inc. (together, “WisdomTree”) and the Funds make no representation or warranty, express or implied, to the owners of shares of the Funds or any member of the public regarding the advisability of investing in securities generally or in the Funds particularly or the ability of the underlying Indexes to track the performance of their underlying securities. WisdomTree is the licensor of certain trademarks, service marks and trade names of the Funds. WisdomTree has no obligation to take the needs of the Funds or the owners of shares of the Funds into consideration in determining, composing, or calculating the underlying WisdomTree Indexes of the applicable Funds. WisdomTree is not responsible for, and has not participated in, the determination of the timing of, prices of, or quantities of shares of the Funds to be issued or in the determination or calculation of the equation by which the shares of the Funds are redeemable. WisdomTree and the Funds do not guarantee the accuracy, completeness, or performance of the underlying Indexes or the data included therein and shall have no liability in connection with the underlying Indexes or their calculation.

Index performance information assumes the reinvestment of dividends and excludes

management fees, transaction costs and expenses. You cannot directly invest in an index.

* * * * * *

Abbreviations used in the schedules of investments and related tables included in this report are as follows:

 

Currency abbreviations:           
AUD   Australian dollar    JPY   Japanese yen
CHF   Swiss franc    NOK   Norwegian krone
DKK   Danish krone    NZD   New Zealand dollar
EUR   Euro    SEK   Swedish krona
GBP   British pound    SGD   Singapore dollar
HKD   Hong Kong dollar    USD   U.S. dollar
Other abbreviations:           
CVA   Certificaten Van Aandelen (Certificate of Stock)
RSP   Risparmio Italian Savings Shares

 

WisdomTree Trust      17  


Schedule of Investments

WisdomTree Europe Quality Dividend Growth Fund (EUDG)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.4%

 

Austria – 0.4%

 

EVN AG

     3,272      $ 72,697  

Oesterreichische Post AG

     2,337        86,454  

Verbund AG

     1,152        100,127  
     

 

 

 
Total Austria

 

     259,278  
Belgium – 0.8%

 

D’ieteren Group

     363        70,555  

Etablissements Franz Colruyt NV(a)

     2,156        63,057  

Melexis NV

     863        99,761  

UCB SA

     1,425        127,633  

VGP NV

     1,028        91,807  

Warehouses De Pauw CVA

     3,250        96,466  
     

 

 

 
Total Belgium

 

     549,279  
China – 0.4%

 

Prosus NV*

     3,487        272,541  
Denmark – 3.5%

 

Alm Brand A/S

     26,705        49,932  

Chr Hansen Holding A/S

     1,057        80,317  

Coloplast A/S, Class B

     1,842        242,267  

Dfds A/S

     1,184        47,971  

Novo Nordisk A/S, Class B

     10,135        1,604,974  

Novozymes A/S, Class B

     1,601        81,935  

Pandora A/S

     2,012        192,322  

Royal Unibrew A/S

     739        64,452  

Scandinavian Tobacco Group A/S(b)

     2,256        44,814  

SimCorp A/S

     470        35,562  
     

 

 

 
Total Denmark

 

     2,444,546  
Finland – 2.9%

 

Elisa Oyj

     3,561        214,953  

Fortum Oyj*

     34,678        531,796  

Kone Oyj, Class B

     9,899        516,229  

Konecranes Oyj

     2,334        78,203  

Metso Outotec Oyj

     13,739        149,864  

Neste Oyj

     6,571        324,328  

Sanoma Oyj

     3,393        29,896  

Valmet Oyj

     4,981        161,482  
     

 

 

 
Total Finland

 

     2,006,751  
France – 23.4%

 

Air Liquide SA

     5,208        872,499  

Airbus SE

     5,666        758,890  

BioMerieux

     588        61,967  

Bollore SE(a)

     18,572        114,810  

Bouygues SA

     12,056        407,224  

Bureau Veritas SA

     5,079        146,064  

Capgemini SE

     1,204        223,356  

Carrefour SA

     8,810        178,319  

Danone SA

     9,812        610,939  

Dassault Aviation SA

     737        146,210  

Dassault Systemes SE

     3,284        135,134  

Eurazeo SE

     1,326        94,361  

Gaztransport Et Technigaz SA

     600        61,406  

Hermes International

     312      631,845  

Kering SA

     1,594        1,039,081  

L’Oreal SA

     2,810        1,255,515  

La Francaise des Jeux SAEM(b)

     3,757        156,700  

LVMH Moet Hennessy Louis Vuitton SE

     4,544        4,168,658  

Metropole Television SA(a)

     6,052        98,299  

Remy Cointreau SA

     233        42,528  

Rubis SCA

     4,505        120,746  

Sanofi

     21,114        2,299,436  

Sartorius Stedim Biotech

     178        54,535  

Schneider Electric SE

     6,134        1,024,167  

Societe BIC SA

     752        47,468  

Sodexo SA

     1,038        101,564  

Sopra Steria Group SACA

     333        69,934  

Teleperformance

     362        87,193  

Thales SA

     2,396        354,937  

Veolia Environnement SA

     15,256        470,727  

Verallia SA(b)

     2,289        97,735  

Vivendi SE

     16,212        163,806  

Wendel SE

     854        90,324  
     

 

 

 
Total France

 

     16,186,377  
Georgia – 0.1%

 

Bank of Georgia Group PLC

     1,611        54,778  
Germany – 10.5%

 

adidas AG

     3,328        588,565  

Bechtle AG

     1,016        48,558  

Beiersdorf AG

     718        93,570  

Carl Zeiss Meditec AG, Bearer Shares

     377        52,428  

Deutsche Telekom AG, Registered Shares

     88,256        2,143,046  

Fielmann AG

     2,102        87,649  

Hannover Rueck SE

     2,158        422,841  

Hella GmbH & Co. KGaA

     509        44,323  

Henkel AG & Co. KGaA

     3,167        230,533  

MTU Aero Engines AG

     365        91,445  

Muenchener Rueckversicherungs – Gesellschaft AG in Muenchen, Registered Shares

     2,930        1,026,614  

Puma SE

     1,620        100,076  

Rheinmetall AG

     457        135,844  

SAP SE

     12,206        1,539,096  

Scout24 SE(b)

     772        45,879  

Siemens Healthineers AG(b)

     8,278        476,842  

Stroeer SE & Co. KGaA

     1,478        78,137  

Symrise AG

     701        76,312  
     

 

 

 
Total Germany

 

     7,281,758  
Ireland – 0.2%

 

Glanbia PLC

     3,008        43,661  

Kerry Group PLC, Class A

     698        69,646  
     

 

 

 
Total Ireland

 

     113,307  
Israel – 0.1%

 

Plus500 Ltd.

     2,965        62,030  
Italy – 2.3%

 

Azimut Holding SpA

     6,265        134,090  

 

See Notes to Financial Statements.

 

18   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Europe Quality Dividend Growth Fund (EUDG)

March 31, 2023

 

 

 

Investments    Shares      Value  

Banca Generali SpA(a)

     4,094      $ 130,680  

Banca Mediolanum SpA

     23,454        212,975  

BPER Banca

     25,480        62,923  

Buzzi Unicem SpA

     2,798        67,972  

De’ Longhi SpA

     3,999        91,500  

Enav SpA(b)

     8,803        36,879  

Ferrari NV

     694        187,971  

FinecoBank Banca Fineco SpA

     8,835        135,727  

Italgas SpA

     25,536        156,058  

Leonardo SpA

     5,538        65,101  

Moncler SpA

     2,015        139,102  

RAI Way SpA(b)

     8,466        50,956  

Recordati Industria Chimica e Farmaceutica SpA

     2,527        106,963  
     

 

 

 
Total Italy               1,578,897  
Netherlands – 5.6%

 

Aegon NV

     48,617        208,692  

ASM International NV

     238        96,164  

ASML Holding NV

     2,108        1,431,856  

BE Semiconductor Industries NV

     2,595        225,829  

Euronext NV(b)

     1,733        132,889  

Heineken Holding NV

     2,436        223,769  

Heineken NV

     3,344        359,894  

Koninklijke KPN NV

     106,194        375,659  

SBM Offshore NV

     6,736        100,078  

Universal Music Group NV

     18,992        480,872  

Wolters Kluwer NV

     2,020        255,345  
     

 

 

 
Total Netherlands               3,891,047  
Norway – 0.6%

 

Austevoll Seafood ASA

     4,786        42,910  

Gjensidige Forsikring ASA

     10,088        165,001  

Kongsberg Gruppen ASA

     1,274        51,432  

Leroy Seafood Group ASA

     12,014        62,289  

Salmar ASA

     2,779        120,945  
     

 

 

 
Total Norway               442,577  
Portugal – 0.3%

 

Jeronimo Martins SGPS SA

     8,443        198,318  
Spain – 3.6%

 

Cie Automotive SA

     2,063        59,396  

Ferrovial SA

     9,524        280,310  

Industria de Diseno Textil SA

     60,512        2,031,466  

Laboratorios Farmaceuticos Rovi SA

     672        28,094  

Unicaja Banco SA(a)(b)

     43,477        46,669  

Viscofan SA

     656        47,039  
     

 

 

 
Total Spain               2,492,974  
Sweden – 5.5%

 

Alfa Laval AB

     4,824        171,987  

Assa Abloy AB, Class B

     9,389        224,821  

Atlas Copco AB, Class A

     23,688        300,487  

Atlas Copco AB, Class B

     16,574        190,489  

Avanza Bank Holding AB(a)

     3,618        84,784  

Axfood AB

     2,348        57,333  

Bilia AB, Class A

     3,393        41,883  

Elekta AB, Class B(a)

     7,156      54,573  

Epiroc AB, Class A(a)

     5,381        106,794  

Epiroc AB, Class B

     5,851        99,562  

Essity AB, Class B(a)

     7,510        214,664  

Evolution AB(b)

     1,660        222,229  

Hexagon AB, Class B

     15,400        176,506  

Hexpol AB

     9,781        121,207  

Husqvarna AB, Class B(a)

     12,731        110,299  

Indutrade AB(a)

     2,655        56,354  

Investment AB Latour, Class B

     5,793        117,653  

Loomis AB

     1,290        44,163  

Nibe Industrier AB, Class B

     5,345        60,720  

Nordnet AB publ

     5,497        90,516  

Saab AB, Class B

     899        54,705  

Sagax AB, Class B

     1,845        42,488  

Sandvik AB

     16,669        353,327  

Securitas AB, Class B

     11,226        99,902  

SKF AB, Class B

     9,449        185,890  

Sweco AB, Class B

     4,765        60,427  

Telefonaktiebolaget LM Ericsson, Class B(a)

     64,585        377,437  

Thule Group AB(a)(b)

     3,558        87,393  
     

 

 

 
Total Sweden               3,808,593  
Switzerland – 20.4%

 

ABB Ltd., Registered Shares

     30,198        1,036,956  

BKW AG

     732        115,223  

Clariant AG, Registered Shares*

     4,003        66,209  

Coca-Cola HBC AG*

     4,137        113,199  

DKSH Holding AG

     1,010        81,426  

Galenica AG(b)

     715        60,539  

Geberit AG, Registered Shares

     495        275,906  

Georg Fischer AG, Registered Shares

     953        73,962  

Givaudan SA, Registered Shares

     99        322,179  

Landis & Gyr Group AG*

     680        52,142  

Logitech International SA, Registered Shares

     1,766        102,649  

Lonza Group AG, Registered Shares

     203        121,638  

Nestle SA, Registered Shares

     20,653        2,519,822  

Novartis AG, Registered Shares

     33,491        3,070,665  

Partners Group Holding AG

     503        471,754  

Roche Holding AG

     6,700        1,913,814  

Roche Holding AG, Bearer Shares

     918        276,340  

Schindler Holding AG, Participation Certificate

     350        77,429  

Schindler Holding AG, Registered Shares

     1,058        223,517  

SFS Group AG

     568        73,615  

SGS SA, Registered Shares

     137        301,578  

SIG Group AG*

     4,438        114,259  

Sika AG, Registered Shares

     1,013        283,314  

Sonova Holding AG, Registered Shares

     520        152,889  

Stadler Rail AG(a)

     1,645        64,284  

Straumann Holding AG, Registered Shares(a)

     568        84,776  

Sulzer AG, Registered Shares

     1,000        84,779  

Temenos AG, Registered Shares

     582        40,314  

VAT Group AG(a)(b)

     407        146,218  

Zurich Insurance Group AG

     3,772        1,807,240  
     

 

 

 
Total Switzerland

 

     14,128,635  

 

See Notes to Financial Statements.

 

WisdomTree Trust      19  


Schedule of Investments (concluded)

WisdomTree Europe Quality Dividend Growth Fund (EUDG)

March 31, 2023

 

 

 

Investments    Shares      Value  
United Kingdom – 16.0%

 

Airtel Africa PLC(b)

     70,269      $ 92,532  

Ashtead Group PLC

     3,604        220,937  

Auto Trader Group PLC(b)

     7,878        60,022  

BAE Systems PLC

     50,586        614,587  

Beazley PLC

     6,702        49,513  

British American Tobacco PLC

     56,808        1,995,174  

Burberry Group PLC

     5,318        170,041  

CNH Industrial NV

     15,184        232,273  

Compass Group PLC

     11,750        295,360  

Computacenter PLC

     2,519        66,590  

Croda International PLC

     1,113        89,423  

Diageo PLC

     17,157        766,666  

Diploma PLC

     1,522        52,881  

Drax Group PLC

     8,440        63,396  

Dunelm Group PLC

     4,999        68,300  

Fresnillo PLC

     12,893        118,924  

Games Workshop Group PLC

     829        98,812  

Greggs PLC

     1,637        56,148  

Halma PLC

     1,909        52,613  

Hargreaves Lansdown PLC

     11,703        115,674  

Howden Joinery Group PLC

     11,658        100,613  

IMI PLC

     3,114        59,064  

Imperial Brands PLC

     24,685        568,926  

Intertek Group PLC

     2,296        115,060  

Investec PLC

     20,153        112,032  

ITV PLC

     146,211        149,688  

Next PLC

     2,444        198,598  

Ninety One PLC(a)

     26,691        61,120  

Pagegroup PLC

     16,941        95,601  

Pearson PLC

     8,165        85,247  

Pets at Home Group PLC

     11,061        50,466  

Reckitt Benckiser Group PLC

     7,834        596,485  

RELX PLC

     21,843        707,064  

Rentokil Initial PLC

     13,430        98,238  

Rightmove PLC

     8,385        58,370  

Rotork PLC

     9,263      36,055  

RS Group PLC

     5,221        59,003  

Sage Group PLC

     14,218        136,244  

Segro PLC

     18,346        174,122  

Smith & Nephew PLC

     12,140        168,418  

Spectris PLC

     1,633        73,880  

Spirax-Sarco Engineering PLC

     507        74,317  

Tate & Lyle PLC

     5,814        56,403  

TBC Bank Group PLC

     2,238        61,985  

Unilever PLC

     36,355        1,883,452  

Victrex PLC

     1,236        24,345  
     

 

 

 
Total United Kingdom

 

     11,084,662  
United States – 2.8%

 

GSK PLC

     109,484        1,934,459  
TOTAL COMMON STOCKS
(Cost: $62,090,438)

 

     68,790,807  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.6%

 

United States – 1.6%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(c)

     
(Cost: $1,121,606)      1,121,606        1,121,606  
TOTAL INVESTMENTS IN SECURITIES – 101.0%
(Cost: $63,212,044)

 

     69,912,413  

Other Assets less Liabilities – (1.0)%

 

     (671,715
     

 

 

 
NET ASSETS – 100.0%

 

   $ 69,240,698  

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $1,436,515 and the total market value of the collateral held by the Fund was $1,512,492. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $390,886.

 

(b) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

     

Quoted
Prices in
Active
Markets

(Level 1)

    

Other
Significant
Observable
Inputs

(Level 2)

    

Significant
Unobservable
Inputs

(Level 3)

     Total  

Assets:

        

Investments in Securities

  

Common Stocks

   $ 68,790,807      $      $      $ 68,790,807  

Investment of Cash Collateral for Securities Loaned

            1,121,606               1,121,606  

Total Investments in Securities

   $ 68,790,807      $ 1,121,606      $      $ 69,912,413  

 

See Notes to Financial Statements.

 

20   WisdomTree Trust


Schedule of Investments

WisdomTree Europe SmallCap Dividend Fund (DFE)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.9%

 

Austria – 1.8%

 

AT&S Austria Technologie & Systemtechnik AG

     23,926      $ 736,941  

Lenzing AG

     33,790        2,551,424  

S IMMO AG

     35,303        509,354  

Schoeller-Bleckmann Oilfield Equipment AG

     6,574        423,540  

Semperit AG Holding

     11,331        305,302  
     

 

 

 
Total Austria

 

     4,526,561  
Belgium – 1.7%

 

Bekaert SA

     47,421        2,143,254  

Deceuninck NV

     524        1,429  

Fagron

     28,754        491,402  

Recticel SA

     28,458        529,938  

Xior Student Housing NV(a)

     31,523        1,061,693  
     

 

 

 
Total Belgium

 

     4,227,716  
Denmark – 6.6%

 

Cementir Holding NV

     56,279        482,429  

Chemometec A/S*

     2,653        151,754  

D/S Norden A/S

     70,301        4,728,737  

Dfds A/S

     43,463        1,760,947  

FLSmidth & Co. A/S

     21,123        807,761  

Matas A/S

     31,311        384,506  

Per Aarsleff Holding A/S

     13,560        583,413  

Scandinavian Tobacco Group A/S(b)

     90,708        1,801,843  

Schouw & Co. A/S

     11,575        970,696  

Spar Nord Bank A/S

     100,943        1,592,934  

Sydbank A/S

     73,633        3,316,226  
     

 

 

 
Total Denmark

 

     16,581,246  
Finland – 5.7%

 

Aktia Bank Oyj

     22,300        231,376  

Caverion Oyj

     55,739        518,979  

Citycon Oyj(a)

     187,701        1,283,725  

Harvia Oyj

     19,547        465,512  

Kamux Corp.(a)

     49,115        278,011  

Kemira Oyj

     59,610        1,050,460  

Konecranes Oyj

     94,109        3,153,227  

Lassila & Tikanoja Oyj(a)

     13,649        149,772  

Marimekko Oyj

     34,789        368,894  

Musti Group Oyj*

     21,600        378,059  

Outokumpu Oyj(a)

     449,540        2,452,758  

Puuilo Oyj

     93,817        684,953  

Rovio Entertainment Oyj(b)

     44,368        376,229  

Terveystalo Oyj(a)(b)

     62,199        474,384  

Tokmanni Group Corp.(a)

     112,377        1,551,789  

Uponor Oyj

     51,101        945,483  
     

 

 

 
Total Finland

 

     14,363,611  
France – 4.4%

 

Beneteau SA

     46,737        781,972  

Coface SA

     148,698        2,108,266  

Derichebourg SA

     214,716        1,259,702  

Etablissements Maurel et Prom SA

     246,075        921,015  

Fnac Darty SA

     43,730        1,614,405  

Lectra

     13,652      539,151  

LISI(a)

     15,319        406,097  

Maisons du Monde SA(a)(b)

     64,803        697,364  

Mersen SA

     13,869        618,540  

Quadient SA

     28,691        523,055  

Television Francaise 1(a)

     173,400        1,532,556  
     

 

 

 
Total France

 

     11,002,123  
Georgia – 0.8%

 

Bank of Georgia Group PLC

     60,090        2,043,203  
Germany – 8.0%

 

7C Solarparken AG

     80,122        329,044  

AURELIUS Equity Opportunities SE & Co. KGaA

     36,679        591,771  

BayWa AG

     13,364        590,210  

Bilfinger SE

     31,915        1,355,755  

Cliq Digital AG

     10,501        334,278  

CropEnergies AG

     57,002        699,807  

Deutz AG

     103,731        673,374  

Duerr AG

     27,866        1,000,286  

Energiekontor AG

     4,750        342,666  

Gerresheimer AG

     16,885        1,672,120  

GFT Technologies SE

     6,736        261,996  

Hamborner REIT AG

     40,277        319,878  

Hamburger Hafen und Logistik AG

     37,267        460,762  

Hornbach Holding AG & Co. KGaA

     14,045        1,123,839  

Instone Real Estate Group SE(b)

     77,943        660,513  

Jenoptik AG

     15,250        518,921  

JOST Werke AG(b)

     8,094        427,815  

Kloeckner & Co. SE

     249,554        2,685,522  

Mutares SE & Co. KGaA

     15,749        335,708  

SAF-Holland SE

     58,616        748,279  

Salzgitter AG

     52,004        2,056,591  

Varta AG(a)

     73,963        2,029,017  

Wacker Neuson SE

     22,582        473,265  

Wuestenrot & Wuerttembergische AG

     16,307        285,594  
     

 

 

 
Total Germany

 

     19,977,011  
Ireland – 0.3%

 

Kenmare Resources PLC

     63,331        367,645  

Origin Enterprises PLC

     66,330        297,625  
     

 

 

 
Total Ireland

 

     665,270  
Italy – 6.5%

 

Alerion Cleanpower SpA(a)

     25,880        830,867  

Anima Holding SpA(b)

     468,325        1,906,008  

Ariston Holding NV

     44,685        492,762  

Banca Popolare di Sondrio SpA

     263,957        1,122,441  

Cairo Communication SpA(a)

     142,299        289,103  

Danieli & C. Officine Meccaniche SpA(a)

     4,784        127,081  

Danieli & C. Officine Meccaniche SpA, RSP

     29,195        579,822  

El.En. SpA

     31,175        407,457  

Esprinet SpA(a)

     94,070        942,306  

Maire Tecnimont SpA(a)

     338,388        1,455,125  

MARR SpA

     41,886        602,513  

OVS SpA(b)

     148,679        389,293  

 

See Notes to Financial Statements.

 

WisdomTree Trust      21  


Schedule of Investments (continued)

WisdomTree Europe SmallCap Dividend Fund (DFE)

March 31, 2023

 

 

 

Investments    Shares      Value  

Piaggio & C. SpA

     221,472      $ 946,111  

RAI Way SpA(b)

     102,296        615,713  

Salcef Group SpA(a)

     27,685        646,685  

Sanlorenzo SpA(a)

     16,688        725,227  

SOL SpA

     15,095        405,079  

Technogym SpA(a)(b)

     116,188        1,034,475  

Unieuro SpA(a)(b)

     41,712        492,153  

Webuild SpA(a)

     626,077        1,428,423  

Zignago Vetro SpA

     39,218        765,247  
     

 

 

 
Total Italy

 

     16,203,891  
Netherlands – 2.4%

 

AMG Advanced Metallurgical Group NV

     18,281        778,964  

Brunel International NV

     25,460        353,508  

Corbion NV

     31,893        1,047,820  

ForFarmers NV(a)

     129,560        458,175  

Heijmans NV, CVA

     49,056        673,673  

Ordina NV

     150,288        973,151  

RHI Magnesita NV

     52,536        1,455,062  

Sligro Food Group NV

     24,369        417,257  
     

 

 

 
Total Netherlands

 

     6,157,610  
Norway – 5.9%

 

ABG Sundal Collier Holding ASA

     348,050        202,720  

Atea ASA*

     46,805        572,041  

Austevoll Seafood ASA

     206,450        1,850,995  

Bonheur ASA

     13,520        300,140  

Borregaard ASA

     46,695        779,357  

DNO ASA

     1,328,597        1,302,832  

Europris ASA(b)

     171,073        1,186,702  

Grieg Seafood ASA

     128,891        1,006,086  

Kid ASA(b)

     22,912        185,736  

MPC Container Ships ASA

     1,764,235        2,810,654  

OKEA ASA(a)

     190,259        573,151  

SpareBank 1 Nord Norge(a)

     86,389        726,707  

SpareBank 1 SMN(a)

     90,796        1,071,544  

Sparebanken Vest

     42,231        370,974  

TGS ASA

     101,213        1,812,984  
     

 

 

 
Total Norway

 

     14,752,623  
Peru – 0.2%

 

Hochschild Mining PLC

     623,376        651,303  
Portugal – 1.9%

 

Altri SGPS SA(a)

     215,105        1,109,144  

Corticeira Amorim SGPS SA(a)

     41,885        455,059  

CTT – Correios de Portugal SA(a)

     135,440        531,943  

Mota-Engil SGPS SA(a)

     304,561        525,454  

Sonae SGPS SA

     1,939,159        2,117,333  
     

 

 

 
Total Portugal

 

     4,738,933  
Spain – 3.6%

 

Applus Services SA

     74,033        578,717  

Construcciones y Auxiliar de Ferrocarriles SA

     28,202        784,386  

Ence Energia y Celulosa SA(a)

     442,921        1,650,555  

Ercros SA

     91,616        433,480  

Faes Farma SA

     184,550        631,589  

Global Dominion Access SA(b)

     69,276      271,706  

Indra Sistemas SA(a)

     76,012        1,028,161  

Linea Directa Aseguradora SA Cia de Seguros y Reaseguros(a)

     455,692        491,373  

Neinor Homes SA(a)(b)

     54,638        537,815  

Pharma Mar SA(a)

     5,303        254,771  

Sacyr SA(a)

     673,273        2,165,173  

Talgo SA(a)(b)

     73,184        248,471  
     

 

 

 
Total Spain

 

     9,076,197  
Sweden – 15.8%

 

AcadeMedia AB(b)

     98,736        491,321  

AddLife AB, Class B

     46,987        425,031  

AddNode Group AB

     30,363        365,133  

AFRY AB

     85,282        1,535,472  

Akelius Residential Property AB, Class D(a)

     158,934        318,756  

Ambea AB(b)

     78,507        274,824  

Beijer Alma AB(a)

     17,537        349,233  

Betsson AB, Class B*

     150,935        1,435,182  

Bilia AB, Class A

     60,078        741,593  

BioGaia AB, Class B

     22,214        196,379  

Biotage AB

     13,732        175,067  

Bufab AB

     12,844        342,480  

Catena AB

     23,344        864,463  

Clas Ohlson AB, Class B(a)

     134,644        1,001,109  

Cloetta AB, Class B

     393,994        831,337  

Coor Service Management Holding AB(b)

     74,799        477,162  

Corem Property Group AB, Class B(a)

     1,242,456        866,881  

Dios Fastigheter AB

     151,157        1,003,627  

Electrolux Professional AB, Class B

     70,162        366,726  

Ferronordic AB*(a)

     12,821        105,342  

G5 Entertainment AB(a)

     8,964        185,166  

GARO AB

     11,613        85,729  

Granges AB

     85,313        812,442  

HMS Networks AB

     12,944        528,518  

Instalco AB(a)

     88,234        425,277  

Inwido AB

     78,134        830,351  

JM AB(a)

     147,918        2,450,667  

KNOW IT AB

     17,046        339,291  

Lagercrantz Group AB, Class B

     72,014        900,735  

Lindab International AB

     56,015        856,737  

Medicover AB, Class B(a)

     17,169        278,160  

MEKO AB

     42,820        509,981  

MIPS AB(a)

     9,461        477,724  

Munters Group AB(b)

     42,103        387,957  

Mycronic AB

     36,319        892,428  

NCC AB, Class B(a)

     135,074        1,197,092  

New Wave Group AB, Class B

     33,211        569,448  

Nolato AB, Class B

     178,887        906,550  

Nordic Waterproofing Holding AB

     18,327        287,730  

Paradox Interactive AB

     15,159        377,895  

Peab AB, Class B

     386,164        1,930,904  

Platzer Fastigheter Holding AB, Class B

     34,449        267,099  

Ratos AB, Class B(a)

     181,956        554,841  

Rvrc Holding AB(a)

     76,319        238,903  

 

See Notes to Financial Statements.

 

22   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Europe SmallCap Dividend Fund (DFE)

March 31, 2023

 

 

 

Investments    Shares      Value  

Sagax AB, Class D(a)

     220,841      $ 557,983  

Samhallsbyggnadsbolaget i Norden AB, Class D(a)

     626,715        973,052  

Skandinaviska Enskilda Banken AB, Class C*(a)

     24,521        314,034  

SkiStar AB(a)

     30,161        362,413  

SSAB AB, Class A

     1,074,539        7,921,054  

Svenska Handelsbanken AB, Class B(a)

     40,655        435,972  

Troax Group AB

     24,746        514,271  

Vitec Software Group AB, Class B

     224        11,524  
     

 

 

 
Total Sweden

 

     39,549,046  
Switzerland – 3.9%

 

Arbonia AG

     35,461        423,878  

Ascom Holding AG, Registered Shares(a)

     32,108        283,280  

Comet Holding AG, Registered Shares

     4,366        1,209,127  

Huber + Suhner AG, Registered Shares

     14,804        1,268,845  

Landis & Gyr Group AG*

     28,117        2,155,980  

Medmix AG(b)

     28,951        604,658  

Mobilezone Holding AG, Registered Shares

     81,796        1,335,883  

Swissquote Group Holding SA, Registered Shares

     7,236        1,412,270  

u-blox Holding AG*

     3,239        453,116  

Zehnder Group AG

     6,952        566,936  
     

 

 

 
Total Switzerland

 

     9,713,973  
United Kingdom – 29.3%

 

AG Barr PLC

     94,848        591,065  

AJ Bell PLC

     174,940        746,683  

Alliance Pharma PLC(a)

     296,968        253,358  

Ashmore Group PLC

     771,647        2,276,490  

Bloomsbury Publishing PLC

     66,145        364,761  

Bodycote PLC

     130,395        1,052,006  

Bytes Technology Group PLC

     102,910        494,212  

Central Asia Metals PLC

     197,748        578,256  

Chemring Group PLC

     133,215        457,904  

Chesnara PLC

     91,693        340,121  

Clarkson PLC

     15,120        577,679  

Close Brothers Group PLC

     173,344        1,931,124  

CLS Holdings PLC

     454,670        755,566  

CMC Markets PLC(b)

     292,108        634,949  

Coats Group PLC

     988,882        901,132  

Concentric AB

     11,719        239,589  

Craneware PLC

     12,416        176,545  

Cranswick PLC

     43,224        1,605,467  

Crest Nicholson Holdings PLC

     372,338        1,005,464  

Currys PLC

     1,088,540        790,731  

Devro PLC

     111,090        450,532  

DFS Furniture PLC

     350,930        590,982  

DiscoverIE Group PLC

     26,803        255,514  

Diversified Energy Co. PLC

     2,029,123        2,373,428  

Domino’s Pizza Group PLC

     407,043        1,442,424  

EMIS Group PLC

     24,373        452,040  

Empiric Student Property PLC

     705,866        788,110  

Essentra PLC

     178,244        426,234  

FDM Group Holdings PLC

     67,666        606,576  

Fevertree Drinks PLC

     39,471        626,642  

Firstgroup PLC

     206,131      264,811  

Forterra PLC(b)

     373,920        918,194  

Gamma Communications PLC

     25,250        337,180  

Genuit Group PLC

     173,356        598,025  

Great Portland Estates PLC

     120,441        755,021  

Halfords Group PLC

     215,225        465,169  

Hammerson PLC

     1,833,844        591,579  

Helical PLC

     57,609        213,692  

Hill & Smith PLC

     47,822        793,518  

Hilton Food Group PLC

     68,207        583,595  

Hollywood Bowl Group PLC

     84,407        243,171  

Hunting PLC

     111,384        325,021  

I3 Energy PLC(a)

     1,580,379        357,984  

Ibstock PLC(b)

     669,681        1,428,347  

Impax Asset Management Group PLC

     86,140        849,932  

IntegraFin Holdings PLC

     285,158        959,028  

Jadestone Energy PLC

     400,139        336,431  

James Halstead PLC(a)

     109,949        248,782  

Keller Group PLC

     39,099        328,256  

Learning Technologies Group PLC

     178,031        283,963  

Liontrust Asset Management PLC

     120,922        1,528,033  

Lok’nStore Group PLC(a)

     20,570        185,667  

Mitie Group PLC

     624,901        632,035  

MJ Gleeson PLC(a)

     56,938        304,132  

Moneysupermarket.com Group PLC

     678,918        2,090,226  

Morgan Advanced Materials PLC

     207,992        727,796  

Morgan Sindall Group PLC

     44,916        938,565  

Mortgage Advice Bureau Holdings Ltd.

     17,252        158,278  

NCC Group PLC

     148,269        187,360  

Next Fifteen Communications Group PLC

     28,876        299,197  

Ninety One PLC(a)

     758,389        1,736,639  

Oxford Instruments PLC

     10,568        327,323  

Pagegroup PLC

     494,904        2,792,822  

Pan African Resources PLC

     2,053,710        421,018  

PayPoint PLC

     63,208        355,599  

Pets at Home Group PLC

     416,201        1,898,917  

Premier Foods PLC

     214,973        324,280  

PZ Cussons PLC

     269,055        616,111  

Quilter PLC(b)

     1,674,086        1,744,118  

Redde Northgate PLC

     264,176        1,128,543  

Redrow PLC

     531,870        3,131,637  

Restore PLC(a)

     60,110        200,672  

RWS Holdings PLC

     264,384        977,424  

Savills PLC

     118,741        1,455,694  

Serica Energy PLC

     437,759        1,198,907  

Shaftesbury Capital PLC

     295,576        419,188  

Smart Metering Systems PLC

     94,401        866,078  

Speedy Hire PLC

     580,233        241,415  

Spirent Communications PLC

     256,522        549,667  

SThree PLC

     77,903        401,186  

TBC Bank Group PLC

     32,341        895,732  

Telecom Plus PLC

     64,465        1,506,477  

TP ICAP Group PLC

     810,708        1,805,322  

TT Electronics PLC

     106,903        247,441  

 

See Notes to Financial Statements.

 

WisdomTree Trust      23  


Schedule of Investments (continued)

WisdomTree Europe SmallCap Dividend Fund (DFE)

March 31, 2023

 

 

 

Investments    Shares      Value  

Tyman PLC

     229,578      $ 682,687  

Vertu Motors PLC

     490,596        362,745  

Vesuvius PLC

     249,746        1,277,808  

VIDENDUM PLC

     33,018        361,302  

Volex PLC(a)

     41,724        111,434  

Volution Group PLC

     71,989        383,192  

Watkin Jones PLC

     485,995        533,607  

Wickes Group PLC

     511,515        874,064  

Wincanton PLC

     116,792        311,920  

Workspace Group PLC

     203,275        1,097,850  

XPS Pensions Group PLC

     174,156        344,536  

YouGov PLC

     15,753        177,247  
     

 

 

 
Total United Kingdom

 

     73,479,174  
United States – 0.1%

 

PolyPeptide Group AG*(a)(b)

     8,522        172,670  

TOTAL COMMON STOCKS

(Cost: $247,652,688)

 

 

     247,882,161  
EXCHANGE-TRADED FUND – 0.0%

 

United States – 0.0%

 

WisdomTree International MidCap Dividend Fund(c) (Cost: $61,960)      1,100        64,306  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 11.7%

 

United States – 11.7%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(d)

     
(Cost: $29,380,946)      29,380,946      $ 29,380,946  
TOTAL INVESTMENTS IN SECURITIES – 110.6%
(Cost: $277,095,594)

 

     277,327,413  

Other Assets less Liabilities – (10.6)%

 

     (26,530,095
     

 

 

 
NET ASSETS – 100.0%

 

   $ 250,797,318  

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $34,250,422 and the total market value of the collateral held by the Fund was $36,261,394. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $6,880,448.

 

(b) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(c) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

(d) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

INVESTMENT IN AFFILIATES               

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate   Value at
3/31/2022
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2023
    Dividend
Income
 

WisdomTree International MidCap Dividend Fund

  $ 1,141,154     $ 9,125,044     $ 9,892,178     $ (321,495   $ 11,781     $ 64,306     $ 72,655  

 

FINANCIAL DERIVATIVE INSTRUMENTS                                                 
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)                                                 
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
   

Amount and
Description of
Currency to
be Sold

    Unrealized
Appreciation
    Unrealized
Depreciation
 

Goldman Sachs

    4/3/2023       488,225       NOK       43,000       EUR     $     $ (100

Standard Chartered Bank

    4/3/2023       968,979       NOK       75,000       GBP             (213

Standard Chartered Bank

    4/3/2023       191,862       NOK       190,000       SEK             (4

Standard Chartered Bank

    4/3/2023       872,054       NOK       83,500       USD             (234

UBS AG

    4/3/2023       97,214       NOK       8,500       CHF             (22
                                            $     $ (573

 

See Notes to Financial Statements.

 

24   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree Europe SmallCap Dividend Fund (DFE)

March 31, 2023

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

        

Investments in Securities

  

Common Stocks

   $ 247,882,161      $      $      $ 247,882,161  

Exchange-Traded Fund

     64,306                      64,306  

Investment of Cash Collateral for Securities Loaned

            29,380,946               29,380,946  

Total Investments in Securities

   $ 247,946,467      $ 29,380,946      $      $ 277,327,413  

Liabilities:

        

Financial Derivative Instruments

  

Foreign Currency Contracts1

   $      $ (573    $      $ (573

Total – Net

   $ 247,946,467      $ 29,380,373      $      $ 277,326,840  
1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

WisdomTree Trust      25  


Schedule of Investments

WisdomTree International AI Enhanced Value Fund (AIVI)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 95.3%

 

Australia – 7.8%

 

APA Group

     27,208      $ 184,412  

ASX Ltd.(a)

     4,153        180,851  

Aurizon Holdings Ltd.

     825,791        1,858,328  

Lendlease Corp. Ltd.

     36,983        179,083  

Lottery Corp. Ltd.

     63,205        216,738  

National Australia Bank Ltd.

     15,793        293,205  

Sonic Healthcare Ltd.

     65,192        1,521,196  

Transurban Group

     147,493        1,403,713  

Woolworths Group Ltd.(a)

     8,206        208,297  
     

 

 

 
Total Australia

 

     6,045,823  
Belgium – 2.6%

 

Ageas SA/NV

     4,204        182,058  

Groupe Bruxelles Lambert NV

     21,338        1,819,839  
     

 

 

 
Total Belgium

 

     2,001,897  
Finland – 0.2%

 

Sampo Oyj, Class A

     3,903        184,373  
France – 4.8%

 

Arkema SA

     3,806        375,461  

Danone SA

     3,560        221,661  

Eiffage SA

     1,803        195,378  

Orange SA

     16,648        198,091  

Publicis Groupe SA

     24,779        1,932,400  

Societe Generale SA

     6,576        148,498  

Valeo

     14,909        306,302  

Vinci SA

     1,666        191,356  

Vivendi SE

     18,431        186,226  
     

 

 

 
Total France

 

     3,755,373  
Germany – 4.1%

 

HeidelbergCement AG

     34,041        2,487,533  

Mercedes-Benz Group AG

     9,365        720,159  
     

 

 

 
Total Germany

 

     3,207,692  
Hong Kong – 4.2%

 

CK Asset Holdings Ltd.

     106,000        643,431  

CK Infrastructure Holdings Ltd.

     36,000        195,823  

CLP Holdings Ltd.

     31,000        223,912  

Hang Lung Properties Ltd.

     99,000        185,137  

Henderson Land Development Co. Ltd.

     292,000        1,009,917  

Hongkong Land Holdings Ltd.

     41,600        182,624  

Power Assets Holdings Ltd.

     38,500        206,479  

Sino Land Co. Ltd.

     154,000        208,343  

Sun Hung Kai Properties Ltd.

     27,500        385,353  
     

 

 

 
Total Hong Kong

 

     3,241,019  
Italy – 3.6%

 

Eni SpA(a)

     84,955        1,191,216  

Mediobanca Banca di Credito Finanziario SpA

     57,211        576,070  

Snam SpA

     194,951        1,035,512  
     

 

 

 
Total Italy

 

     2,802,798  
Japan – 22.8%

 

AGC, Inc.

     14,600        540,273  

Aisin Corp.(a)

     9,900      271,136  

Asahi Group Holdings Ltd.

     21,600        799,146  

Asahi Kasei Corp.

     51,400        357,741  

Daiwa Securities Group, Inc.(a)

     42,700        199,239  

Honda Motor Co. Ltd.(a)

     24,800        654,054  

Hulic Co. Ltd.

     24,000        196,018  

Inpex Corp.

     130,200        1,366,665  

ITOCHU Corp.(a)

     6,500        210,057  

Japan Post Insurance Co. Ltd.

     16,100        250,047  

Kao Corp.

     6,300        244,587  

Kirin Holdings Co. Ltd.

     12,800        201,584  

Kyocera Corp.

     3,900        201,842  

Lixil Corp.

     12,000        196,288  

MEIJI Holdings Co. Ltd.(a)

     8,400        199,128  

Mitsubishi Corp.

     7,000        249,883  

Mitsubishi Electric Corp.

     91,100        1,080,482  

Mitsubishi Estate Co. Ltd.

     17,700        209,663  

Mitsubishi HC Capital, Inc.

     45,600        234,356  

Mitsui & Co. Ltd.

     6,700        207,207  

Mitsui Fudosan Co. Ltd.

     12,200        227,702  

MS&AD Insurance Group Holdings, Inc.

     6,700        206,704  

NEC Corp.

     6,300        241,416  

NGK Insulators Ltd.(a)

     14,600        192,195  

Nissan Chemical Corp.(a)

     4,400        198,031  

Nissan Motor Co. Ltd.(a)

     204,000        768,085  

Nitto Denko Corp.

     3,700        237,696  

Nomura Real Estate Holdings, Inc.

     51,700        1,138,185  

Ono Pharmaceutical Co. Ltd.

     12,600        261,676  

ORIX Corp.

     14,900        243,669  

Otsuka Corp.

     50,700        1,784,728  

SCSK Corp.

     13,200        191,915  

Secom Co. Ltd.

     3,200        196,294  

Shimizu Corp.(a)

     58,900        331,918  

Sompo Holdings, Inc.(a)

     9,200        363,051  

Subaru Corp.

     11,900        189,064  

Sumitomo Realty & Development Co. Ltd.

     15,100        338,329  

Takeda Pharmaceutical Co. Ltd.

     19,300        630,814  

Tosoh Corp.

     136,300        1,840,342  

Yamato Holdings Co. Ltd.

     15,600        265,958  
     

 

 

 
Total Japan

 

     17,717,168  
Netherlands – 7.1%

 

JDE Peet’s NV

     42,371        1,234,631  

Koninklijke Philips NV

     146,966        2,688,224  

NN Group NV

     24,091        875,771  

OCI NV

     10,169        345,364  

Randstad NV(a)

     3,093        183,477  

Wolters Kluwer NV

     1,642        207,563  
     

 

 

 
Total Netherlands

 

     5,535,030  
Norway – 4.0%

 

DNB Bank ASA

     62,076        1,110,458  

Gjensidige Forsikring ASA(a)

     22,772        372,463  

Orkla ASA

     28,195        199,918  

Telenor ASA

     124,733        1,461,338  
     

 

 

 
Total Norway

 

     3,144,177  

 

See Notes to Financial Statements.

 

26   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International AI Enhanced Value Fund (AIVI)

March 31, 2023

 

 

 

Investments    Shares      Value  
Singapore – 1.4%

 

CapitaLand Investment Ltd.

     71,200      $ 197,071  

City Developments Ltd.

     48,800        270,510  

Oversea-Chinese Banking Corp. Ltd.

     41,600        387,042  

UOL Group Ltd.

     37,600        195,982  
     

 

 

 
Total Singapore

 

     1,050,605  
Spain – 4.2%

 

ACS Actividades de Construccion y Servicios SA

     7,566        241,259  

Enagas SA

     129,634        2,492,883  

Red Electrica Corp. SA

     13,520        237,959  

Repsol SA

     19,207        296,005  
     

 

 

 
Total Spain

 

     3,268,106  
Sweden – 0.5%

 

Essity AB, Class B(a)

     7,022        200,715  

Tele2 AB, Class B

     20,626        205,374  
     

 

 

 
Total Sweden

 

     406,089  
Switzerland – 8.5%

 

Baloise Holding AG, Registered Shares

     2,146        334,509  

EMS-Chemie Holding AG, Registered Shares

     251        207,163  

Geberit AG, Registered Shares

     1,008        561,845  

Holcim AG, Registered Shares*

     31,392        2,023,960  

SGS SA, Registered Shares

     83        182,708  

Swiss Prime Site AG, Registered Shares

     9,805        816,234  

Swiss Re AG

     22,095        2,269,602  

Temenos AG, Registered Shares

     2,578        178,573  
     

 

 

 
Total Switzerland

 

     6,574,594  
United Kingdom – 17.5%

 

Aviva PLC

     450,564        2,251,798  

BAE Systems PLC

     36,155        439,260  

British American Tobacco PLC

     38,359        1,347,220  

Bunzl PLC

     5,310        200,709  

CK Hutchison Holdings Ltd.

     51,000        316,397  

Imperial Brands PLC

     40,063        923,349  

J. Sainsbury PLC

     58,682        202,217  

Legal & General Group PLC

     61,502        181,669  

M&G PLC

     902,630        2,209,793  

Phoenix Group Holdings PLC

     305,578      2,064,474  

Reckitt Benckiser Group PLC

     4,909        373,774  

RELX PLC

     6,837        221,315  

Schroders PLC

     291,792        1,659,617  

Shell PLC

     6,840        195,237  

Taylor Wimpey PLC

     280,520        412,577  

United Utilities Group PLC

     48,374        634,008  
     

 

 

 
Total United Kingdom

 

     13,633,414  
United States – 2.0%

 

GSK PLC

     88,040        1,555,567  
TOTAL COMMON STOCKS
(Cost: $76,159,793)

 

     74,123,725  
PREFERRED STOCK – 2.7%

 

Germany – 2.7%

 

Henkel AG & Co. KGaA
(Cost: $2,535,302)
     26,907        2,106,538  
EXCHANGE-TRADED FUND – 0.5%

 

United States – 0.5%

 

iShares MSCI EAFE Value ETF
(Cost: $373,178)
     7,936        385,134  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 4.5%

 

United States – 4.5%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(b)

     
(Cost: $3,481,984)      3,481,984        3,481,984  
TOTAL INVESTMENTS IN SECURITIES – 103.0%
(Cost: $82,550,257)

 

     80,097,381  

Other Assets less Liabilities – (3.0)%

 

     (2,312,661
     

 

 

 
NET ASSETS – 100.0%

 

   $ 77,784,720  

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $5,165,534 and the total market value of the collateral held by the Fund was $5,472,739. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $1,990,755.

 

(b) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
   

Amount and
Description of
Currency to
be Purchased

   

Amount and
Description of
Currency to
be Sold

    Unrealized
Appreciation
    Unrealized
Depreciation
 

Morgan Stanley & Co. International

    4/4/2023       45,652       USD       68,000       AUD     $ 110     $  

Morgan Stanley & Co. International

    4/4/2023       30,648       USD       28,000       CHF             (2

Standard Chartered Bank

    4/4/2023       55,231       USD       7,350,000       JPY       5        
                                            $ 115     $ (2

 

See Notes to Financial Statements.

 

WisdomTree Trust      27  


Schedule of Investments (concluded)

WisdomTree International AI Enhanced Value Fund (AIVI)

March 31, 2023

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

        

Investments in Securities

  

Common Stocks

   $ 74,123,725      $      $      $ 74,123,725  

Preferred Stock

     2,106,538                      2,106,538  

Exchange-Traded Fund

     385,134                      385,134  

Investment of Cash Collateral for Securities Loaned

            3,481,984               3,481,984  

Total Investments in Securities

   $ 76,615,397      $ 3,481,984      $      $ 80,097,381  

Financial Derivative Instruments

 

     

Foreign Currency Contracts1

   $      $ 115      $      $ 115  

Liabilities:

 

     

Financial Derivative Instruments

  

Foreign Currency Contracts1

   $      $ (2    $      $ (2

Total – Net

   $ 76,615,397      $ 3,482,097      $      $ 80,097,494  
1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

28   WisdomTree Trust


Schedule of Investments

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.9%

 

Australia – 12.5%

 

Abacus Property Group

     77,206      $ 134,443  

AGL Energy Ltd.

     28,954        156,105  

ALS Ltd.

     13,804        114,271  

Ampol Ltd.

     16,163        330,059  

ANZ Group Holdings Ltd.

     186,671        2,866,776  

APA Group

     60,789        412,020  

Aristocrat Leisure Ltd.

     7,919        197,300  

ASX Ltd.(a)

     8,016        349,074  

AUB Group Ltd.

     4,431        75,705  

Aurizon Holdings Ltd.

     103,752        233,479  

Australian Clinical Labs Ltd.(a)

     37,808        89,386  

Bank of Queensland Ltd.(a)

     31,628        137,477  

Bapcor Ltd.

     21,690        92,681  

Bendigo & Adelaide Bank Ltd.(a)

     30,469        176,925  

BHP Group Ltd.

     675,449        21,366,007  

BlueScope Steel Ltd.

     12,513        168,869  

Brambles Ltd.

     31,620        284,414  

Brickworks Ltd.

     9,847        149,377  

BWP Trust

     33,665        85,228  

carsales.com Ltd.

     13,147        194,859  

Challenger Ltd.

     18,325        76,585  

Champion Iron Ltd.(a)

     22,659        108,356  

Charter Hall Group

     20,685        152,392  

Charter Hall Long Wale REIT

     58,049        162,900  

Cochlear Ltd.

     800        126,818  

Coles Group Ltd.

     61,175        738,315  

Commonwealth Bank of Australia

     74,196        4,885,795  

Computershare Ltd.

     9,967        144,122  

Cromwell Property Group

     365,275        135,777  

CSL Ltd.

     4,580        884,347  

CSR Ltd.

     45,711        145,421  

Deterra Royalties Ltd.

     44,130        141,869  

Dexus

     73,316        368,767  

Downer EDI Ltd.

     36,790        84,516  

Eagers Automotive Ltd.

     14,569        131,630  

Elders Ltd.(a)

     13,871        80,174  

Endeavour Group Ltd.(a)

     35,194        159,577  

First Resources Ltd.

     110,800        130,838  

Goodman Group

     33,293        418,979  

GPT Group

     90,067        255,767  

Growthpoint Properties Australia Ltd.

     94,965        193,353  

GUD Holdings Ltd.(a)

     8,966        58,789  

Harvey Norman Holdings Ltd.(a)

     102,950        246,844  

Helia Group Ltd.

     54,822        105,378  

HomeCo Daily Needs REIT

     119,265        92,259  

Iluka Resources Ltd.

     13,459        95,730  

Incitec Pivot Ltd.

     110,360        231,350  

Insignia Financial Ltd.

     49,463        90,770  

Insurance Australia Group Ltd.

     50,805        159,585  

IVE Group Ltd.

     49,321        81,591  

JB Hi-Fi Ltd.

     10,888        309,701  

Lendlease Corp. Ltd.(a)

     21,606        104,623  

Lovisa Holdings Ltd.

     5,573      90,476  

Macquarie Group Ltd.

     10,877        1,279,661  

McMillan Shakespeare Ltd.(a)

     9,480        91,429  

Medibank Pvt Ltd.

     150,419        338,497  

Metcash Ltd.(a)

     71,291        183,827  

Mineral Resources Ltd.

     1,906        102,877  

Mirvac Group(a)

     214,156        298,336  

Monadelphous Group Ltd.(a)

     9,000        75,648  

National Australia Bank Ltd.

     155,015        2,877,927  

Navigator Global Investments Ltd.

     114,577        80,575  

New Hope Corp. Ltd.(a)

     70,138        266,818  

Nine Entertainment Co. Holdings Ltd.(a)

     109,084        143,926  

Northern Star Resources Ltd.

     18,883        155,683  

NRW Holdings Ltd.

     53,008        85,205  

Origin Energy Ltd.

     74,130        411,587  

Orora Ltd.

     46,967        107,580  

OZ Minerals Ltd.

     4,939        92,985  

Premier Investments Ltd.

     7,046        123,120  

QBE Insurance Group Ltd.

     32,445        317,041  

Qube Holdings Ltd.(a)

     87,045        167,316  

REA Group Ltd.(a)

     1,681        155,401  

Reece Ltd.(a)

     8,881        103,199  

Region RE Ltd.

     65,464        103,035  

Rio Tinto Ltd.

     133,414        9,425,518  

Santos Ltd.

     83,123        384,134  

Scentre Group

     213,140        392,564  

SEEK Ltd.

     8,945        143,303  

Seven Group Holdings Ltd.(a)

     15,011        232,239  

Sims Ltd.

     18,080        187,812  

SmartGroup Corp. Ltd.(a)

     28,766        123,495  

Sonic Healthcare Ltd.

     17,371        405,337  

South32 Ltd.

     507,438        1,485,174  

Stockland

     210,237        560,409  

Suncorp Group Ltd.

     37,887        307,289  

Super Retail Group Ltd.

     20,526        172,528  

Telstra Group Ltd.

     638,166        1,803,678  

TPG Telecom Ltd.(a)

     53,152        173,721  

Transurban Group

     75,866        722,028  

Treasury Wine Estates Ltd.

     14,325        125,396  

Vicinity Ltd.

     250,630        326,487  

Viva Energy Group Ltd.(b)

     107,396        217,943  

Washington H Soul Pattinson & Co. Ltd.(a)

     11,350        229,570  

Waypoint REIT Ltd.

     39,854        69,133  

Wesfarmers Ltd.

     38,851        1,307,528  

Westpac Banking Corp.

     132,817        1,926,748  

Whitehaven Coal Ltd.

     51,963        234,219  

Woodside Energy Group Ltd.

     133,716        2,985,808  

Woolworths Group Ltd.

     26,138        663,475  

Worley Ltd.

     24,177        233,335  
     

 

 

 
Total Australia

 

     71,208,393  
Austria – 0.6%

 

Andritz AG

     5,114        346,145  

BAWAG Group AG*(b)

     6,507        315,725  

Erste Group Bank AG

     19,539        647,458  

 

See Notes to Financial Statements.

 

WisdomTree Trust      29  


Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Lenzing AG

     2,227      $ 168,157  

Oesterreichische Post AG

     4,632        171,354  

OMV AG

     15,081        692,420  

Semperit AG Holding

     1,956        52,702  

Telekom Austria AG*

     35,998        271,815  

Verbund AG

     1,506        130,896  

Vienna Insurance Group AG Wiener Versicherung Gruppe

     6,202        166,770  

Voestalpine AG

     6,492        220,625  

Wienerberger AG

     1,649        47,727  
     

 

 

 
Total Austria

 

     3,231,794  
Belgium – 1.1%

 

Ackermans & van Haaren NV

     643        106,185  

Aedifica SA

     2,251        181,219  

Ageas SA/NV

     14,710        637,030  

Anheuser-Busch InBev SA

     13,781        918,255  

Bekaert SA

     2,468        111,545  

bpost SA

     15,073        85,892  

Cofinimmo SA

     2,042        180,921  

D’ieteren Group

     560        108,845  

Elia Group SA/NV

     775        102,387  

Etablissements Franz Colruyt NV

     4,628        135,356  

Groupe Bruxelles Lambert NV

     2,924        249,377  

KBC Group NV

     23,628        1,624,951  

Melexis NV

     1,314        151,896  

Proximus SADP

     25,224        243,737  

Solvay SA

     3,512        401,975  

UCB SA

     2,611        233,859  

Umicore SA

     3,999        135,599  

VGP NV

     1,855        165,663  

Warehouses De Pauw CVA

     7,566        224,573  
     

 

 

 
Total Belgium

 

     5,999,265  
Burkina Faso – 0.0%

 

Endeavour Mining PLC

     7,525        185,900  
China – 0.5%

 

BOC Hong Kong Holdings Ltd.

     531,944        1,656,830  

Prosus NV*

     5,053        394,938  

Wilmar International Ltd.

     230,700        730,508  
     

 

 

 
Total China

 

     2,782,276  
Denmark – 1.4%

 

Alm Brand A/S

     67,306        125,845  

AP Moller – Maersk A/S, Class B

     600        1,089,032  

Carlsberg A/S, Class B

     2,188        339,215  

Chr Hansen Holding A/S

     1,279        97,186  

Coloplast A/S, Class B

     3,833        504,131  

D/S Norden A/S

     3,944        265,290  

DSV A/S

     1,450        280,524  

Novo Nordisk A/S, Class B

     18,601        2,945,645  

Novozymes A/S, Class B

     3,477        177,944  

Orsted A/S(b)

     5,808        494,182  

Pandora A/S

     3,824        365,526  

Royal Unibrew A/S

     1,875        163,530  

Scandinavian Tobacco Group A/S(b)

     8,130        161,496  

Schouw & Co. A/S

     1,504      126,128  

Sydbank A/S

     3,794        170,871  

Topdanmark A/S*

     6,079        325,204  

Tryg A/S

     18,002        393,565  
     

 

 

 
Total Denmark

 

     8,025,314  
Finland – 1.5%

 

Anora Group Oyj(a)

     7,487        45,064  

Cargotec Oyj, Class B

     2,440        118,709  

Elisa Oyj

     9,389        566,750  

Fortum Oyj*

     50,484        774,184  

Huhtamaki Oyj

     1,905        70,783  

Kesko Oyj, Class B

     18,277        393,269  

Kojamo Oyj

     5,550        65,423  

Kone Oyj, Class B

     14,929        778,541  

Konecranes Oyj

     4,880        163,510  

Metsa Board Oyj, Class B(a)

     22,712        183,092  

Metso Outotec Oyj

     20,429        222,839  

Neste Oyj

     11,307        558,084  

Nokia Oyj

     28,361        139,135  

Nordea Bank Abp(a)

     188,861        2,015,091  

Orion Oyj, Class B

     3,936        176,139  

Sampo Oyj, Class A

     22,643        1,069,629  

Stora Enso Oyj, Class R

     15,366        199,999  

TietoEVRY Oyj

     3,770        118,454  

UPM-Kymmene Oyj*

     16,691        561,245  

Valmet Oyj(a)

     10,854        351,883  
     

 

 

 
Total Finland

 

     8,571,823  
France – 11.3%

 

Air Liquide SA

     7,859        1,316,623  

Airbus SE

     7,862        1,053,017  

ALD SA(b)

     38,313        449,552  

Alten SA

     788        125,764  

Arkema SA

     2,703        266,650  

AXA SA

     155,024        4,743,713  

BNP Paribas SA

     66,860        4,010,457  

Bollore SE(a)

     40,440        249,996  

Bouygues SA

     16,902        570,911  

Bureau Veritas SA

     7,354        211,489  

Capgemini SE

     2,599        482,144  

Carrefour SA

     19,089        386,372  

Cie de Saint-Gobain

     13,776        783,070  

Cie Generale des Etablissements Michelin SCA

     20,418        624,344  

Coface SA

     17,584        249,309  

Danone SA

     18,566        1,156,002  

Dassault Aviation SA

     995        197,394  

Dassault Systemes SE

     6,834        281,214  

Edenred

     4,780        283,239  

Eiffage SA

     3,828        414,812  

Engie SA

     169,685        2,686,779  

Eramet SA

     1,401        146,428  

EssilorLuxottica SA

     4,966        895,621  

Eurazeo SE

     1,785        127,025  

Gaztransport Et Technigaz SA

     1,294        132,433  

 

See Notes to Financial Statements.

 

30   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Gecina SA

     4,056      $ 421,054  

Hermes International

     595        1,204,960  

Imerys SA

     2,997        129,592  

Ipsen SA

     1,080        119,097  

IPSOS

     3,115        193,243  

Kering SA

     2,282        1,487,567  

Klepierre SA(a)

     17,979        407,269  

L’Oreal SA

     8,552        3,821,055  

La Francaise des Jeux SAEM(b)

     8,507        354,817  

Legrand SA

     5,023        458,845  

LVMH Moet Hennessy Louis Vuitton SE

     9,566        8,775,832  

Metropole Television SA(a)

     13,618        221,189  

Nexans SA

     448        44,536  

Orange SA

     203,654        2,423,238  

Pernod Ricard SA

     6,002        1,360,906  

Publicis Groupe SA

     7,790        607,506  

Remy Cointreau SA

     837        152,772  

Rexel SA*

     12,051        287,387  

Rothschild & Co.

     5,164        261,165  

Rubis SCA

     6,174        165,480  

Sanofi

     36,494        3,974,406  

Sartorius Stedim Biotech

     307        94,058  

Schneider Electric SE

     9,801        1,636,430  

Societe Generale SA

     43,299        977,772  

Sodexo SA

     1,245        121,818  

Sopra Steria Group SACA

     733        153,938  

SPIE SA

     6,168        179,191  

Teleperformance

     480        115,616  

Television Francaise 1(a)

     17,072        150,887  

Thales SA

     4,990        739,206  

TotalEnergies SE(a)

     139,614        8,245,521  

Valeo

     5,621        115,482  

Veolia Environnement SA

     21,456        662,029  

Verallia SA(b)

     4,005        171,003  

Vinci SA

     15,377        1,766,194  

Vivendi SE

     33,527        338,756  

Wendel SE

     2,159        228,349  
     

 

 

 
Total France

 

     64,412,524  
Georgia – 0.0%

 

Bank of Georgia Group PLC

     3,609        122,715  
Germany – 8.2%

 

adidas AG

     4,346        768,600  

Allianz SE, Registered Shares

     17,697        4,091,485  

AURELIUS Equity Opportunities SE & Co. KGaA

     3,408        54,984  

Aurubis AG

     1,305        120,600  

BASF SE

     47,492        2,495,264  

Bayer AG, Registered Shares

     28,434        1,813,985  

Bayerische Motoren Werke AG

     30,328        3,325,958  

Beiersdorf AG

     1,603        208,902  

Bilfinger SE

     3,052        129,650  

Brenntag SE

     4,055        304,864  

Dermapharm Holding SE

     2,663        109,306  

Deutsche Bank AG, Registered Shares

     32,527        330,631  

Deutsche Boerse AG

     3,068      598,148  

Deutsche Post AG, Registered Shares

     45,447        2,127,607  

Deutsche Telekom AG, Registered Shares

     190,437        4,624,221  

Deutz AG

     26,275        170,565  

DWS Group GmbH & Co. KGaA(b)

     13,445        413,679  

E.ON SE

     112,501        1,405,607  

Evonik Industries AG

     18,755        394,486  

Fielmann AG

     2,761        115,128  

Freenet AG

     9,461        246,180  

GEA Group AG

     2,963        135,043  

Hannover Rueck SE

     4,806        941,694  

Hapag-Lloyd AG(a)(b)

     13,340        4,376,959  

HeidelbergCement AG

     7,404        541,044  

Henkel AG & Co. KGaA

     5,265        383,251  

Hochtief AG

     2,653        221,538  

Hornbach Holding AG & Co. KGaA

     1,031        82,498  

Infineon Technologies AG

     11,590        474,465  

Kloeckner & Co. SE

     11,137        119,848  

Mercedes-Benz Group AG

     65,204        5,014,117  

Merck KGaA

     1,563        291,313  

Muenchener Rueckversicherungs – Gesellschaft AG in Muenchen, Registered Shares

     4,411        1,545,527  

Mutares SE & Co. KGaA

     5,276        112,464  

Puma SE

     2,978        183,968  

Rheinmetall AG

     682        202,726  

RWE AG

     12,998        559,783  

SAP SE

     17,307        2,182,298  

Siemens Healthineers AG(b)

     15,718        905,413  

Siltronic AG

     2,295        167,557  

Sixt SE

     1,268        168,896  

Stroeer SE & Co. KGaA

     2,258        119,373  

Suedzucker AG

     6,929        116,534  

Symrise AG

     1,669        181,691  

Talanx AG

     13,058        605,779  

Telefonica Deutschland Holding AG

     180,562        556,539  

United Internet AG, Registered Shares

     3,186        54,933  

Vantage Towers AG

     7,566        278,003  

Varta AG

     4,693        128,742  

Volkswagen AG

     9,753        1,674,191  

Wacker Chemie AG

     2,593        420,884  

Wacker Neuson SE

     1,245        26,092  
     

 

 

 
Total Germany

 

     46,623,013  
Hong Kong – 3.2%

 

AIA Group Ltd.

     217,165        2,286,472  

Bank of East Asia Ltd.(a)

     128,400        163,241  

Champion REIT(a)

     485,000        208,211  

CLP Holdings Ltd.

     101,500        733,132  

Dah Sing Banking Group Ltd.

     223,600        171,190  

Dah Sing Financial Holdings Ltd.

     33,200        85,221  

Fortune Real Estate Investment Trust

     218,000        180,511  

Hang Lung Group Ltd.

     111,000        195,983  

Hang Lung Properties Ltd.

     228,000        426,377  

Hang Seng Bank Ltd.

     57,300        815,344  

 

See Notes to Financial Statements.

 

WisdomTree Trust      31  


Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Henderson Land Development Co. Ltd.

     306,859      $ 1,061,309  

Hong Kong & China Gas Co. Ltd.

     712,570        627,247  

Hong Kong Exchanges & Clearing Ltd.

     32,129        1,425,145  

Hutchison Port Holdings Trust

     997,600        186,551  

Hysan Development Co. Ltd.

     74,000        210,218  

Link REIT(a)

     172,773        1,111,477  

MTR Corp. Ltd.

     278,053        1,340,684  

New World Development Co. Ltd.

     213,000        571,169  

PCCW Ltd.

     1,167,000        582,760  

Power Assets Holdings Ltd.

     179,500        962,675  

Singamas Container Holdings Ltd.

     520,000        41,070  

Sino Land Co. Ltd.

     494,755        669,342  

Sun Hung Kai Properties Ltd.

     181,000        2,536,322  

Swire Pacific Ltd., Class A

     29,500        226,607  

Swire Pacific Ltd., Class B

     207,500        256,667  

Swire Properties Ltd.

     252,600        650,007  

Techtronic Industries Co. Ltd.

     31,000        335,079  
     

 

 

 
Total Hong Kong

 

     18,060,011  
Indonesia – 0.0%

 

Bumitama Agri Ltd.(a)

     144,600        61,449  

Nickel Industries Ltd.

     164,913        99,405  
     

 

 

 
Total Indonesia

 

     160,854  
Ireland – 0.3%

 

AIB Group PLC

     29,665        120,603  

CRH PLC

     21,816        1,101,550  

Glanbia PLC

     10,308        149,620  

Kerry Group PLC, Class A

     1,494        149,071  

Kingspan Group PLC

     1,551        106,228  

Smurfit Kappa Group PLC

     8,662        313,663  
     

 

 

 
Total Ireland

 

     1,940,735  
Israel – 0.7%

 

Alony Hetz Properties & Investments Ltd.

     8,947        69,699  

Amot Investments Ltd.

     25,175        127,460  

Ashtrom Group Ltd.

     5,435        81,510  

Azrieli Group Ltd.

     2,506        143,234  

Bank Hapoalim BM

     37,314        308,303  

Bank Leumi Le-Israel BM

     88,595        664,343  

Bezeq The Israeli Telecommunication Corp. Ltd.

     124,100        168,401  

Delek Automotive Systems Ltd.

     10,223        94,858  

Elbit Systems Ltd.

     744        125,837  

FIBI Holdings Ltd.

     2,756        102,949  

First International Bank of Israel Ltd.

     3,091        108,595  

Gav-Yam Lands Corp. Ltd.

     13,207        96,284  

Harel Insurance Investments & Financial Services Ltd.

     10,464        87,766  

ICL Group Ltd.

     118,818        796,267  

Israel Discount Bank Ltd., Class A

     31,876        155,367  

Mehadrin Ltd.*

     0        3  

Mizrahi Tefahot Bank Ltd.

     10,232        318,840  

Oil Refineries Ltd.

     239,243        65,182  

Phoenix Holdings Ltd.

     12,446        123,055  

Plus500 Ltd.(a)

     8,399        175,713  

Strauss Group Ltd.*

     7,731      174,023  
     

 

 

 
Total Israel

 

     3,987,689  
Italy – 2.4%

 

A2A SpA(a)

     196,199        313,346  

ACEA SpA

     13,468        184,367  

Amplifon SpA(a)

     2,382        82,658  

Anima Holding SpA(b)

     56,423        229,633  

Assicurazioni Generali SpA

     70,689        1,411,585  

Azimut Holding SpA(a)

     8,212        175,762  

Banca Generali SpA(a)

     4,986        159,153  

Banca Mediolanum SpA

     40,512        367,871  

Banca Popolare di Sondrio SpA

     23,875        101,525  

Banco BPM SpA(a)

     78,056        305,718  

BPER Banca(a)

     51,506        127,194  

Credito Emiliano SpA

     34,605        256,409  

Cromwell European Real Estate Investment Trust

     68,800        112,869  

De’ Longhi SpA

     6,200        141,860  

DiaSorin SpA(a)

     316        33,322  

Eni SpA(a)

     195,289        2,738,288  

ERG SpA

     8,652        262,823  

Ferrari NV

     1,510        408,986  

FinecoBank Banca Fineco SpA

     12,536        192,583  

Hera SpA

     46,265        130,789  

Infrastrutture Wireless Italiane SpA(b)

     30,248        398,299  

Iren SpA

     81,211        155,729  

Italgas SpA(a)

     72,890        445,451  

Mediobanca Banca di Credito Finanziario SpA

     64,667        651,146  

Moncler SpA

     2,262        156,153  

Piaggio & C. SpA

     42,790        182,796  

Poste Italiane SpA(b)

     68,579        701,266  

Recordati Industria Chimica e Farmaceutica SpA

     6,384        270,223  

Snam SpA

     218,667        1,161,483  

Terna – Rete Elettrica Nazionale

     95,127        781,952  

Unieuro SpA(a)(b)

     3,050        35,986  

Unipol Gruppo SpA

     26,973        138,934  

UnipolSai Assicurazioni SpA(a)

     286,422        724,434  
     

 

 

 
Total Italy

 

     13,540,593  
Japan – 19.2%

 

77 Bank Ltd.(a)

     5,500        89,346  

ABC-Mart, Inc.

     1,400        77,001  

ADEKA Corp.(a)

     7,600        128,941  

Advantest Corp.(a)

     3,900        356,330  

Aeon Co. Ltd.

     12,300        237,146  

Aeon Delight Co. Ltd.

     6,100        139,334  

Aeon Mall Co. Ltd.(a)

     8,700        113,546  

AGC, Inc.

     10,600        392,253  

Air Water, Inc.

     12,400        154,662  

Aisin Corp.(a)

     11,300        309,479  

Ajinomoto Co., Inc.(a)

     7,600        263,022  

Amada Co. Ltd.

     18,200        169,296  

Aozora Bank Ltd.(a)

     11,400        205,490  

Asahi Group Holdings Ltd.

     11,100        410,672  

Asahi Holdings, Inc.(a)

     6,000        91,156  

 

See Notes to Financial Statements.

 

32   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Asahi Kasei Corp.

     39,300      $ 273,526  

Astellas Pharma, Inc.

     40,300        570,177  

Azbil Corp.(a)

     2,500        67,811  

Bandai Namco Holdings, Inc.

     16,500        353,146  

Benesse Holdings, Inc.

     800        11,661  

Bridgestone Corp.

     18,000        725,870  

Brother Industries Ltd.

     4,100        61,366  

Canon Marketing Japan, Inc.

     4,200        99,406  

Canon, Inc.

     30,100        668,424  

Capcom Co. Ltd.

     2,700        96,059  

Casio Computer Co. Ltd.(a)

     13,100        127,762  

Central Japan Railway Co.

     900        106,913  

Chiba Bank Ltd.

     22,600        145,187  

Chubu Electric Power Co., Inc.

     27,300        286,969  

Chugai Pharmaceutical Co. Ltd.

     42,100        1,034,390  

Citizen Watch Co. Ltd.(a)

     18,400        107,560  

CKD Corp.

     6,100        98,542  

Concordia Financial Group Ltd.(a)

     64,900        237,968  

Cosmo Energy Holdings Co. Ltd.

     6,700        215,715  

Dai Nippon Printing Co. Ltd.

     7,100        197,652  

Dai-ichi Life Holdings, Inc.(a)

     30,933        565,947  

Daicel Corp.

     28,200        211,887  

Daido Steel Co. Ltd.(a)

     2,200        85,957  

Daiichi Sankyo Co. Ltd.

     9,000        326,080  

Daiichikosho Co. Ltd.(a)

     11,200        183,791  

Daikin Industries Ltd.

     3,200        568,758  

Daishi Hokuetsu Financial Group, Inc.(a)

     11,900        258,404  

Daito Trust Construction Co. Ltd.

     3,700        366,692  

Daiwa House Industry Co. Ltd.

     22,100        517,089  

Daiwa Securities Group, Inc.(a)

     83,900        391,479  

DCM Holdings Co. Ltd.

     17,800        154,474  

Denka Co. Ltd.

     3,100        63,705  

Denso Corp.

     16,100        900,385  

Dentsu Group, Inc.

     7,000        244,571  

DIC Corp.

     4,400        78,684  

Disco Corp.

     3,000        344,879  

Doshisha Co. Ltd.(a)

     19,600        285,407  

Doutor Nichires Holdings Co. Ltd.

     9,900        140,812  

Dowa Holdings Co. Ltd.

     2,100        66,981  

East Japan Railway Co.

     3,000        165,339  

Ebara Corp.

     3,200        147,389  

EDION Corp.(a)

     12,300        118,481  

Eisai Co. Ltd.(a)

     4,300        242,446  

Electric Power Development Co. Ltd.

     8,500        136,100  

ENEOS Holdings, Inc.

     158,500        554,018  

Exedy Corp.

     11,400        155,295  

FANUC Corp.

     21,500        768,953  

Fast Retailing Co. Ltd.

     2,400        520,790  

Fuji Electric Co. Ltd.

     5,300        207,078  

FUJIFILM Holdings Corp.

     9,000        452,942  

Fujitec Co. Ltd.(a)

     5,300        130,818  

Fujitsu Ltd.

     3,100        415,422  

Fukuoka Financial Group, Inc.

     11,500        220,253  

Furukawa Battery Co. Ltd.(a)

     6,400        51,406  

Furuya Metal Co. Ltd.

     100      6,830  

G-Tekt Corp.(a)

     14,600        157,091  

Goldcrest Co. Ltd.(a)

     8,500        109,084  

GS Yuasa Corp.(a)

     4,400        78,750  

Gunze Ltd.(a)

     5,200        175,235  

H.U. Group Holdings, Inc.(a)

     4,900        98,155  

Hachijuni Bank Ltd.

     57,400        247,990  

Hakuhodo DY Holdings, Inc.(a)

     9,400        105,590  

Hamamatsu Photonics KK

     2,100        112,187  

Hankyu Hanshin Holdings, Inc.

     5,900        173,999  

Haseko Corp.

     25,200        291,403  

Heiwa Corp.

     16,300        321,983  

Hioki EE Corp.

     2,000        129,837  

Hirose Electric Co. Ltd.

     2,100        272,500  

Hisamitsu Pharmaceutical Co., Inc.

     4,300        122,128  

Hitachi Construction Machinery Co. Ltd.

     6,700        154,801  

Hitachi Ltd.

     16,300        888,178  

Honda Motor Co. Ltd.(a)

     51,800        1,366,128  

Hoya Corp.

     3,100        339,139  

Hulic Co. Ltd.

     17,500        142,930  

Ichibanya Co. Ltd.(a)

     3,700        140,116  

Idemitsu Kosan Co. Ltd.(a)

     13,951        303,989  

IHI Corp.

     5,100        127,222  

Iida Group Holdings Co. Ltd.(a)

     7,200        116,799  

Iino Kaiun Kaisha Ltd.

     15,100        113,911  

Information Services International-Dentsu Ltd.

     2,600        101,585  

INFRONEER Holdings, Inc.

     25,900        198,886  

Inpex Corp.

     51,000        535,330  

Isetan Mitsukoshi Holdings Ltd.(a)

     12,400        138,078  

Isuzu Motors Ltd.

     21,800        258,639  

ITOCHU Corp.(a)

     45,100        1,457,473  

IwaiCosmo Holdings, Inc.(a)

     20,000        201,368  

Izumi Co. Ltd.

     4,600        108,701  

Japan Exchange Group, Inc.(a)

     14,200        215,363  

Japan Metropolitan Fund Invest

     155        112,619  

Japan Post Holdings Co. Ltd.

     140,200        1,134,009  

Japan Post Insurance Co. Ltd.

     18,100        281,108  

Japan Tobacco, Inc.

     92,244        1,939,280  

Joshin Denki Co. Ltd.(a)

     11,300        165,904  

JTEKT Corp.(a)

     17,000        130,416  

K’s Holdings Corp.

     11,100        96,997  

Kajima Corp.

     17,200        206,519  

Kaken Pharmaceutical Co. Ltd.

     5,800        161,026  

Kamigumi Co. Ltd.

     4,500        93,997  

Kaneka Corp.

     3,800        98,505  

Kansai Electric Power Co., Inc.

     34,200        331,747  

Kao Corp.

     10,200        395,998  

Kawasaki Kisen Kaisha Ltd.(a)

     22,200        504,583  

KDDI Corp.

     78,500        2,414,160  

Keyence Corp.

     1,100        532,685  

Kikkoman Corp.(a)

     1,600        81,028  

Kirin Holdings Co. Ltd.

     31,100        489,786  

Kobe Steel Ltd.(a)

     28,800        227,864  

Koei Tecmo Holdings Co. Ltd.(a)

     7,600        136,365  

 

See Notes to Financial Statements.

 

WisdomTree Trust      33  


Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Komatsu Ltd.

     27,200      $ 669,730  

Konami Group Corp.(a)

     2,800        127,703  

Konica Minolta, Inc.(a)

     21,500        91,919  

Kurabo Industries Ltd.(a)

     6,000        113,472  

Kuraray Co. Ltd.

     9,500        86,870  

Kyowa Kirin Co. Ltd.

     9,600        208,172  

Kyudenko Corp.(a)

     4,800        121,361  

Kyushu Financial Group, Inc.(a)

     35,500        127,233  

Kyushu Railway Co.(a)

     8,000        177,264  

Lawson, Inc.

     2,300        96,949  

Lintec Corp.

     4,500        73,202  

Macnica Holdings, Inc.

     6,600        186,460  

Marubeni Corp.

     98,100        1,323,454  

Maruichi Steel Tube Ltd.(a)

     7,200        157,427  

Matsui Securities Co. Ltd.(a)

     22,100        130,020  

Mazda Motor Corp.

     18,800        173,041  

Medipal Holdings Corp.

     6,700        90,817  

MEIJI Holdings Co. Ltd.(a)

     11,200        265,505  

Mitsubishi Chemical Group Corp.

     51,700        305,212  

Mitsubishi Corp.

     62,400        2,227,533  

Mitsubishi Electric Corp.

     41,400        491,020  

Mitsubishi Estate Co. Ltd.

     22,400        265,336  

Mitsubishi Gas Chemical Co., Inc.

     12,100        178,468  

Mitsubishi Heavy Industries Ltd.(a)

     7,400        271,113  

Mitsubishi Logistics Corp.(a)

     3,700        86,460  

Mitsubishi Materials Corp.(a)

     9,600        155,588  

Mitsubishi UFJ Financial Group, Inc.

     444,100        2,829,306  

Mitsuboshi Belting Ltd.(a)

     3,700        109,396  

Mitsui & Co. Ltd.

     66,300        2,050,423  

Mitsui Chemicals, Inc.(a)

     12,100        310,023  

Mitsui Fudosan Co. Ltd.

     15,200        283,694  

Mitsui High-Tec, Inc.

     500        31,407  

Mitsui Mining & Smelting Co. Ltd.(a)

     5,900        142,524  

Mitsui OSK Lines Ltd.(a)

     42,200        1,049,530  

MIXI, Inc.

     5,000        100,008  

Mizuho Financial Group, Inc.

     91,530        1,291,557  

Mizuho Medy Co. Ltd.

     3,000        52,543  

Mizuno Corp.(a)

     7,500        174,976  

MS&AD Insurance Group Holdings, Inc.

     22,730        701,250  

Murata Manufacturing Co. Ltd.

     11,400        688,677  

Musashi Seimitsu Industry Co. Ltd.(a)

     6,200        86,974  

Nabtesco Corp.

     5,000        121,722  

NEC Corp.

     6,300        241,416  

NGK Insulators Ltd.(a)

     13,400        176,398  

NGK Spark Plug Co. Ltd.(a)

     12,200        250,802  

NHK Spring Co. Ltd.

     17,800        126,656  

Nichirei Corp.(a)

     5,500        110,917  

Nikkon Holdings Co. Ltd.(a)

     6,300        117,158  

Nikon Corp.(a)

     9,000        91,630  

Nintendo Co. Ltd.

     33,700        1,299,231  

Nippon Denko Co. Ltd.(a)

     24,500        65,719  

Nippon Electric Glass Co. Ltd.

     9,500        181,948  

Nippon Express Holdings, Inc.

     3,900        233,549  

Nippon Gas Co. Ltd.

     7,900        114,205  

Nippon Kayaku Co. Ltd.(a)

     18,700      168,186  

Nippon Light Metal Holdings Co. Ltd.(a)

     8,500        93,373  

Nippon Shinyaku Co. Ltd.

     300        13,141  

Nippon Steel Corp.

     55,000        1,289,353  

Nippon Steel Trading Corp.

     2,000        139,605  

Nippon Telegraph & Telephone Corp.

     123,500        3,676,512  

Nippon Yusen KK(a)

     60,600        1,406,517  

Nishi-Nippon Financial Holdings, Inc.

     19,100        156,141  

Nishimatsu Construction Co. Ltd.(a)

     5,600        144,113  

Nissan Chemical Corp.(a)

     3,400        153,024  

Nissan Motor Co. Ltd.(a)

     32,600        122,743  

Nisshinbo Holdings, Inc.

     25,000        190,097  

Nissin Foods Holdings Co. Ltd.

     3,100        282,538  

Nitto Denko Corp.

     4,000        256,969  

Noevir Holdings Co. Ltd.

     5,200        210,985  

NOF Corp.(a)

     4,300        199,346  

Nomura Holdings, Inc.

     84,200        322,464  

Nomura Real Estate Holdings, Inc.

     10,800        237,764  

Nomura Research Institute Ltd.

     10,900        251,022  

Noritake Co. Ltd.

     3,400        117,259  

NTT Data Corp.

     13,600        176,987  

Obic Co. Ltd.

     1,000        157,037  

Oji Holdings Corp.

     24,900        98,036  

Okamura Corp.(a)

     14,000        143,482  

Oki Electric Industry Co. Ltd.(a)

     19,500        105,200  

Olympus Corp.

     8,800        153,301  

Ono Pharmaceutical Co. Ltd.

     10,100        209,756  

Open House Group Co. Ltd.

     2,900        107,859  

Oracle Corp.

     3,400        243,459  

Osaka Gas Co. Ltd.

     10,400        170,429  

Otsuka Corp.

     5,000        176,009  

Otsuka Holdings Co. Ltd.

     10,900        344,223  

Panasonic Holdings Corp.

     51,700        459,158  

Penta-Ocean Construction Co. Ltd.(a)

     18,700        88,800  

Pola Orbis Holdings, Inc.

     9,300        120,329  

Recruit Holdings Co. Ltd.

     9,200        252,310  

Resona Holdings, Inc.

     76,000        365,181  

Resonac Holdings Corp.

     5,300        86,654  

Ricoh Co. Ltd.

     10,700        79,673  

Rohm Co. Ltd.

     1,200        98,911  

San-In Godo Bank Ltd.

     12,000        66,632  

Sankyo Co. Ltd.

     2,000        83,102  

Santen Pharmaceutical Co. Ltd.(a)

     12,100        102,735  

Sanwa Holdings Corp.

     13,800        146,824  

SBI Holdings, Inc.(a)

     17,800        350,944  

SCREEN Holdings Co. Ltd.(a)

     1,700        148,809  

SCSK Corp.

     9,500        138,121  

Secom Co. Ltd.

     4,500        276,039  

Sega Sammy Holdings, Inc.

     11,100        209,590  

Seiko Epson Corp.(a)

     11,300        159,706  

Sekisui Chemical Co. Ltd.

     14,500        204,388  

Sekisui House Ltd.

     27,100        549,371  

Senko Group Holdings Co. Ltd.

     12,800        90,886  

Seria Co. Ltd.

     7,900        155,638  

 

See Notes to Financial Statements.

 

34   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Seven & I Holdings Co. Ltd.

     13,600      $ 610,564  

SG Holdings Co. Ltd.

     12,600        185,559  

Sharp Corp.(a)

     20,300        142,309  

Shibusawa Warehouse Co. Ltd.(a)

     10,400        173,633  

Shiga Bank Ltd.(a)

     5,400        108,698  

Shimamura Co. Ltd.

     1,900        192,727  

Shimano, Inc.

     1,300        223,097  

Shin-Etsu Chemical Co. Ltd.

     49,500        1,589,996  

Shionogi & Co. Ltd.

     7,000        314,366  

Shiseido Co. Ltd.

     4,100        190,413  

SMC Corp.

     800        419,746  

Sodick Co. Ltd.

     21,400        122,203  

SoftBank Corp.(a)

     314,700        3,615,420  

Sojitz Corp.(a)

     13,700        284,417  

Sompo Holdings, Inc.

     15,500        611,661  

Square Enix Holdings Co. Ltd.

     2,600        124,247  

St. Marc Holdings Co. Ltd.(a)

     14,100        183,600  

Stanley Electric Co. Ltd.(a)

     4,100        90,293  

Starts Corp., Inc.

     6,000        114,644  

Subaru Corp.

     15,700        249,438  

SUMCO Corp.

     8,200        122,054  

Sumitomo Bakelite Co. Ltd.

     1,300        50,402  

Sumitomo Chemical Co. Ltd.(a)

     71,600        239,402  

Sumitomo Corp.

     78,200        1,375,507  

Sumitomo Electric Industries Ltd.

     23,300        297,093  

Sumitomo Forestry Co. Ltd.

     13,000        255,917  

Sumitomo Heavy Industries Ltd.

     10,500        255,617  

Sumitomo Metal Mining Co. Ltd.

     14,200        538,702  

Sumitomo Mitsui Financial Group, Inc.

     53,500        2,129,709  

Sumitomo Mitsui Trust Holdings, Inc.

     10,907        372,144  

Sumitomo Realty & Development Co. Ltd.

     8,300        185,969  

Sumitomo Rubber Industries Ltd.

     6,700        60,209  

Sun Frontier Fudousan Co. Ltd.(a)

     18,800        180,951  

Sundrug Co. Ltd.

     4,800        131,099  

Suntory Beverage & Food Ltd.

     6,000        222,481  

Suzuki Motor Corp.

     10,600        382,616  

T&D Holdings, Inc.

     22,400        276,192  

Taiheiyo Cement Corp.(a)

     5,400        100,908  

Taisei Corp.(a)

     7,100        218,457  

Taiyo Yuden Co. Ltd.

     3,100        103,419  

Takara Holdings, Inc.(a)

     19,000        145,901  

Takara Standard Co. Ltd.

     13,600        150,112  

Takashimaya Co. Ltd.(a)

     18,100        262,885  

Takeda Pharmaceutical Co. Ltd.

     55,700        1,820,535  

TDK Corp.

     6,400        227,215  

Teijin Ltd.

     6,600        69,228  

Terumo Corp.

     7,300        196,034  

TIS, Inc.

     5,400        141,603  

Tocalo Co. Ltd.

     15,100        147,040  

Toda Corp.(a)

     18,100        93,975  

Toho Co. Ltd.

     1,900        72,380  

Tokio Marine Holdings, Inc.

     80,000        1,530,994  

Tokuyama Corp.

     9,900        156,582  

Tokyo Electron Ltd.

     14,700        1,771,643  

Tokyo Gas Co. Ltd.

     11,400      213,798  

Tokyo Ohka Kogyo Co. Ltd.

     1,200        69,337  

Tokyo Seimitsu Co. Ltd.

     2,800        107,717  

Tokyo Steel Manufacturing Co. Ltd.(a)

     5,900        60,556  

Tokyo Tatemono Co. Ltd.

     1,600        19,415  

Tokyu Corp.(a)

     8,400        111,209  

Tokyu Fudosan Holdings Corp.

     19,100        91,130  

Toray Industries, Inc.

     25,200        143,221  

Toshiba Corp.

     8,800        293,906  

Tosoh Corp.

     17,700        238,988  

TOTO Ltd.(a)

     4,000        132,842  

Toyo Seikan Group Holdings Ltd.

     14,500        198,941  

Toyo Suisan Kaisha Ltd.

     2,400        100,083  

Toyo Tire Corp.(a)

     7,000        81,261  

Toyoda Gosei Co. Ltd.(a)

     8,800        150,755  

Toyota Boshoku Corp.(a)

     10,400        166,991  

Toyota Motor Corp.(a)

     345,450        4,879,751  

Toyota Tsusho Corp.

     11,400        481,389  

TPR Co. Ltd.

     12,900        129,785  

Transcosmos, Inc.

     4,000        94,222  

Trend Micro, Inc.

     5,200        252,791  

Tsumura & Co.

     5,400        106,710  

Tsuruha Holdings, Inc.

     900        59,847  

UBE Corp.(a)

     7,400        114,261  

Ulvac, Inc.

     900        38,883  

Unicharm Corp.

     3,200        130,823  

USS Co. Ltd.

     14,000        241,416  

V Technology Co. Ltd.(a)

     6,600        139,151  

Wacoal Holdings Corp.(a)

     5,900        110,251  

Wacom Co. Ltd.(a)

     12,300        63,769  

West Japan Railway Co.

     3,000        123,007  

Wowow, Inc.

     13,500        127,098  

Yakult Honsha Co. Ltd.

     3,700        267,721  

Yamada Holdings Co. Ltd.(a)

     25,800        88,397  

Yamaguchi Financial Group, Inc.(a)

     46,500        283,703  

Yamaha Motor Co. Ltd.

     13,100        340,567  

Yamato Holdings Co. Ltd.

     7,300        124,455  

Yaskawa Electric Corp.(a)

     2,400        104,050  

Yokogawa Electric Corp.

     10,600        171,238  

Yokohama Rubber Co. Ltd.

     7,100        149,213  

Yondoshi Holdings, Inc.

     12,900        173,015  

ZOZO, Inc.(a)

     5,500        124,596  
     

 

 

 
Total Japan

 

     109,430,448  
Netherlands – 2.1%

 

Aalberts NV

     4,244        200,159  

Aegon NV

     58,615        251,609  

ASM International NV

     553        223,440  

ASML Holding NV

     2,919        1,982,726  

ASR Nederland NV

     10,972        437,960  

BE Semiconductor Industries NV

     4,630        402,924  

CTP NV(b)

     11,671        151,145  

Euronext NV(b)

     2,878        220,690  

Heijmans NV, CVA

     7,586        104,176  

 

See Notes to Financial Statements.

 

WisdomTree Trust      35  


Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Heineken Holding NV

     3,230      $ 296,706  

Heineken NV

     8,924        960,434  

JDE Peet’s NV

     7,993        232,905  

Koninklijke Ahold Delhaize NV

     27,423        938,204  

Koninklijke DSM NV

     3,163        373,541  

Koninklijke KPN NV

     236,301        835,910  

Koninklijke Vopak NV

     6,662        235,160  

NN Group NV

     14,695        534,202  

OCI NV(a)

     23,935        812,891  

Ordina NV

     5,066        32,804  

Randstad NV(a)

     12,431        737,409  

RHI Magnesita NV

     3,814        105,634  

SBM Offshore NV

     13,441        199,696  

Signify NV(b)

     4,721        157,156  

Universal Music Group NV(a)

     25,534        646,514  

Wolters Kluwer NV

     5,150        651,003  
     

 

 

 
Total Netherlands

 

     11,724,998  
Norway – 1.9%

 

AF Gruppen ASA

     15,688        223,192  

Aker ASA, Class A

     3,169        203,337  

Aker BP ASA(a)

     29,771        728,562  

Atea ASA*

     7,418        90,661  

Austevoll Seafood ASA

     14,800        132,694  

DNB Bank ASA

     84,520        1,511,952  

Entra ASA(b)

     14,166        136,749  

Equinor ASA

     80,151        2,285,962  

Gjensidige Forsikring ASA(a)

     26,095        426,815  

Kid ASA(b)

     13,487        109,332  

Leroy Seafood Group ASA

     29,613        153,535  

Mowi ASA

     15,853        292,747  

MPC Container Ships ASA

     68,131        108,541  

Norsk Hydro ASA

     82,541        613,160  

Orkla ASA

     22,704        160,984  

Salmar ASA

     5,901        256,818  

Selvaag Bolig ASA

     26,944        95,318  

SpareBank 1 Nord Norge(a)

     15,263        128,393  

SpareBank 1 SR-Bank ASA

     12,356        142,754  

Storebrand ASA

     16,870        129,379  

Telenor ASA

     155,714        1,824,303  

Veidekke ASA

     13,075        138,826  

Wallenius Wilhelmsen ASA

     11,304        81,706  

Yara International ASA

     13,049        565,538  
     

 

 

 
Total Norway

 

     10,541,258  
Peru – 0.0%

 

Hochschild Mining PLC

     34,220        35,753  
Portugal – 0.4%

 

EDP – Energias de Portugal SA

     139,305        759,161  

Galp Energia SGPS SA

     34,524        392,340  

Jeronimo Martins SGPS SA

     22,830        536,255  

Navigator Co. SA

     33,089        118,490  

NOS SGPS SA

     27,369        125,363  

REN – Redes Energeticas Nacionais SGPS SA

     69,430        203,667  

Sonae SGPS SA

     77,787      84,934  
     

 

 

 
Total Portugal

 

     2,220,210  
Singapore – 2.8%

 

BOC Aviation Ltd.(b)

     19,800        152,978  

Bukit Sembawang Estates Ltd.(a)

     88,300        272,295  

CapitaLand Ascendas REIT

     215,900        464,423  

CapitaLand Ascott Trust

     163,800        122,584  

CapitaLand Integrated Commercial Trust

     368,700        549,077  

CapitaLand Investment Ltd.

     196,800        544,714  

City Developments Ltd.

     27,200        150,776  

ComfortDelGro Corp. Ltd.

     84,300        74,818  

DBS Group Holdings Ltd.

     117,476        2,915,805  

Frasers Centrepoint Trust

     42,300        72,857  

Frasers Logistics & Commercial Trust

     294,800        290,465  

Genting Singapore Ltd.

     356,000        299,891  

Jardine Cycle & Carriage Ltd.(a)

     20,655        485,945  

Jiutian Chemical Group Ltd.

     1,080,300        59,315  

Kenon Holdings Ltd.

     4,752        139,103  

Keppel Corp. Ltd.

     70,400        298,110  

Keppel DC REIT

     89,800        139,136  

Keppel Infrastructure Trust(a)

     392,400        154,947  

Keppel REIT

     209,400        139,385  

Mapletree Industrial Trust

     148,400        264,532  

Mapletree Logistics Trust(a)

     155,500        199,996  

Mapletree Pan Asia Commercial Trust

     170,900        231,372  

NetLink NBN Trust

     387,100        250,390  

Olam Group Ltd.

     199,500        235,580  

OUE Commercial Real Estate Investment Trust

     363,800        86,192  

Oversea-Chinese Banking Corp. Ltd.

     207,095        1,926,791  

PARAGON REIT

     198,800        141,300  

Parkway Life Real Estate Investment Trust

     26,000        78,026  

Raffles Medical Group Ltd.

     133,300        149,387  

Sembcorp Industries Ltd.

     96,800        318,893  

Sheng Siong Group Ltd.

     184,300        234,265  

Singapore Exchange Ltd.

     55,400        391,681  

Singapore Post Ltd.

     320,900        120,680  

Singapore Technologies Engineering Ltd.

     149,100        410,444  

Singapore Telecommunications Ltd.

     672,700        1,244,663  

Suntec Real Estate Investment Trust

     162,100        174,347  

United Overseas Bank Ltd.

     86,501        1,936,196  

Venture Corp. Ltd.

     10,800        143,534  

Wing Tai Holdings Ltd.

     116,700        130,783  
     

 

 

 
Total Singapore

 

     15,995,676  
Spain – 3.9%

 

Acciona SA(a)

     1,644        329,897  

Acerinox SA

     15,982        164,503  

ACS Actividades de Construccion y Servicios SA

     26,041        830,377  

Atresmedia Corp. de Medios de Comunicacion SA

     32,967        124,428  

Banco Bilbao Vizcaya Argentaria SA(a)

     253,354        1,808,710  

Banco de Sabadell SA(a)

     161,549        173,549  

Banco Santander SA

     484,255        1,802,483  

Bankinter SA(a)

     38,166        216,698  

 

See Notes to Financial Statements.

 

36   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  

CaixaBank SA

     238,615      $ 929,128  

Cia de Distribucion Integral Logista Holdings SA

     6,393        159,751  

Cie Automotive SA

     5,491        158,091  

EDP Renovaveis SA

     6,206        142,200  

Enagas SA

     19,360        372,296  

Endesa SA

     102,168        2,220,008  

Faes Farma SA

     43,807        149,921  

Ferrovial SA

     16,547        487,010  

Fluidra SA(a)

     16,495        290,141  

Fomento de Construcciones y Contratas SA

     24,405        238,633  

Grupo Catalana Occidente SA

     7,847        247,662  

Iberdrola SA

     209,643        2,615,900  

Industria de Diseno Textil SA

     86,624        2,908,081  

Inmobiliaria Colonial Socimi SA

     23,103        146,209  

Linea Directa Aseguradora SA Cia de Seguros y Reaseguros(a)

     86,838        93,638  

Mapfre SA

     210,572        425,066  

Merlin Properties Socimi SA

     52,468        459,451  

Naturgy Energy Group SA(a)

     52,729        1,589,726  

Red Electrica Corp. SA

     23,633        415,952  

Repsol SA

     59,907        923,244  

Sacyr SA(a)

     43,207        138,949  

Telefonica SA

     358,873        1,549,063  

Unicaja Banco SA(a)(b)

     117,125        125,723  

Viscofan SA

     2,561        183,638  
     

 

 

 
Total Spain

 

     22,420,126  
Sweden – 2.4%

 

AFRY AB

     7,696        138,564  

Alfa Laval AB

     7,037        250,886  

Assa Abloy AB, Class B

     15,372        368,084  

Atlas Copco AB, Class A

     41,677        528,682  

Atlas Copco AB, Class B

     25,164        289,217  

Avanza Bank Holding AB(a)

     5,839        136,831  

Axfood AB(a)

     9,018        220,198  

Billerud AB

     10,900        112,001  

Boliden AB

     9,616        378,165  

Dometic Group AB(a)(b)

     13,549        82,421  

Epiroc AB, Class A(a)

     19,799        392,942  

EQT AB(a)

     10,521        213,676  

Essity AB, Class B(a)

     15,677        448,107  

Evolution AB(b)

     2,374        317,814  

Fabege AB(a)

     13,627        104,632  

Hexagon AB, Class B

     19,223        220,323  

Hexpol AB

     14,610        181,048  

Husqvarna AB, Class B

     27,721        240,170  

Industrivarden AB, Class A

     5,526        149,054  

Industrivarden AB, Class C

     4,052        109,100  

Investment AB Latour, Class B(a)

     8,743        177,566  

JM AB(a)

     7,538        124,888  

Lifco AB, Class B(a)

     8,944        192,343  

Lindab International AB

     1,924        29,427  

Loomis AB

     4,824        165,149  

NCC AB, Class B

     10,649        94,377  

Nibe Industrier AB, Class B

     8,932        101,469  

Nordnet AB publ

     9,947      163,792  

Saab AB, Class B

     2,385        145,130  

Samhallsbyggnadsbolaget i Norden AB, Class D(a)

     3,960        6,148  

Sandvik AB

     23,924        507,109  

Securitas AB, Class B(a)

     15,465        137,625  

Skandinaviska Enskilda Banken AB, Class A*(a)

     74,264        818,945  

SKF AB, Class B

     13,813        271,743  

SSAB AB, Class A

     38,097        280,835  

SSAB AB, Class B

     74,480        530,935  

Svenska Cellulosa AB SCA, Class B(a)

     12,993        170,971  

Svenska Handelsbanken AB, Class A(a)

     67,615        585,805  

Swedbank AB, Class A(a)

     70,577        1,158,071  

Tele2 AB, Class B

     36,927        367,684  

Telefonaktiebolaget LM Ericsson, Class B(a)

     87,721        512,644  

Telia Co. AB(a)

     311,500        792,152  

Thule Group AB(b)

     9,150        224,745  

Trelleborg AB, Class B

     7,629        216,961  

Volvo AB, Class A(a)

     12,996        279,483  

Volvo AB, Class B

     34,928        720,316  

Wihlborgs Fastigheter AB

     20,362        155,814  
     

 

 

 
Total Sweden

 

     13,814,042  
Switzerland – 9.0%

 

ABB Ltd., Registered Shares

     45,647        1,567,453  

Baloise Holding AG, Registered Shares

     2,939        458,118  

Banque Cantonale Vaudoise, Registered Shares(a)

     3,836        362,374  

BKW AG

     1,552        244,297  

Cembra Money Bank AG

     1,289        101,379  

Cie Financiere Richemont SA, Class A, Registered Shares

     8,917        1,424,104  

Clariant AG, Registered Shares*

     4,519        74,744  

Coca-Cola HBC AG*

     8,947        244,814  

DKSH Holding AG

     2,399        193,406  

EFG International AG*

     12,506        122,521  

Galenica AG(b)

     2,212        187,289  

Geberit AG, Registered Shares

     900        501,647  

Givaudan SA, Registered Shares

     129        419,810  

Helvetia Holding AG, Registered Shares

     3,000        418,368  

Holcim AG, Registered Shares*

     23,483        1,514,037  

Julius Baer Group Ltd.

     8,150        555,972  

Kuehne & Nagel International AG, Registered Shares

     3,973        1,182,485  

Logitech International SA, Registered Shares

     3,861        224,420  

Lonza Group AG, Registered Shares

     519        310,985  

Nestle SA, Registered Shares

     78,698        9,601,750  

Novartis AG, Registered Shares

     103,984        9,533,906  

OC Oerlikon Corp. AG, Registered Shares

     17,845        100,696  

Partners Group Holding AG

     767        719,354  

PSP Swiss Property AG, Registered Shares

     1,303        148,336  

Roche Holding AG

     20,480        5,849,987  

Roche Holding AG, Bearer Shares(a)

     3,586        1,079,470  

Schindler Holding AG, Participation Certificate

     1,197        264,806  

Schindler Holding AG, Registered Shares

     739        156,124  

SFS Group AG

     1,832        237,435  

SGS SA, Registered Shares

     310        682,404  

 

See Notes to Financial Statements.

 

WisdomTree Trust      37  


Schedule of Investments (continued)

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  

SIG Group AG*(a)

     6,868      $ 176,822  

Sika AG, Registered Shares

     1,640        458,672  

Sonova Holding AG, Registered Shares

     864        254,031  

Stadler Rail AG(a)

     2,379        92,967  

STMicroelectronics NV

     6,862        364,970  

Straumann Holding AG, Registered Shares(a)

     1,095        163,432  

Sulzer AG, Registered Shares(a)

     2,515        213,220  

Swatch Group AG, Bearer Shares

     1,252        429,508  

Swiss Life Holding AG, Registered Shares

     1,444        890,220  

Swiss Prime Site AG, Registered Shares

     3,796        316,004  

Swiss Re AG

     17,604        1,808,286  

Swisscom AG, Registered Shares

     2,841        1,813,662  

UBS Group AG, Registered Shares

     80,331        1,696,224  

VAT Group AG(a)(b)

     539        193,640  

Vontobel Holding AG, Registered Shares

     3,488        226,412  

Zurich Insurance Group AG

     8,151        3,905,306  
     

 

 

 
Total Switzerland

 

     51,485,867  
United Kingdom – 12.4%

 

Airtel Africa PLC(b)

     187,194        246,501  

Anglo American PLC

     75,739        2,507,880  

Ashmore Group PLC

     56,773        167,490  

Ashtead Group PLC

     6,713        411,528  

Associated British Foods PLC

     13,552        325,074  

Assura PLC

     200,618        121,199  

AstraZeneca PLC

     29,846        4,144,955  

Aviva PLC

     131,704        658,221  

BAE Systems PLC

     79,347        964,015  

Balfour Beatty PLC

     21,943        101,037  

Barclays PLC

     493,036        888,818  

Beazley PLC

     11,640        85,994  

Bellway PLC

     7,341        200,324  

Big Yellow Group PLC

     11,360        164,199  

BP PLC

     654,191        4,131,731  

British American Tobacco PLC

     111,698        3,922,986  

British Land Co. PLC

     43,314        207,689  

Britvic PLC(a)

     15,718        173,162  

BT Group PLC

     436,571        787,026  

Bunzl PLC

     8,287        313,234  

Burberry Group PLC

     7,187        229,801  

Central Asia Metals PLC

     49,967        146,114  

Clarkson PLC

     2,287        87,378  

Close Brothers Group PLC

     7,257        80,846  

CNH Industrial NV

     19,304        295,297  

Compass Group PLC

     14,974        376,402  

Computacenter PLC

     4,027        106,455  

ConvaTec Group PLC(b)

     51,290        144,972  

Cranswick PLC

     2,847        105,746  

Croda International PLC

     2,312        185,757  

DCC PLC

     2,388        139,306  

Derwent London PLC(a)

     3,311        96,534  

Diageo PLC

     54,113        2,418,056  

Diversified Energy Co. PLC

     111,053        129,897  

Drax Group PLC

     18,891        141,898  

DS Smith PLC

     31,629        122,994  

Dunelm Group PLC

     8,851      120,929  

Fresnillo PLC

     16,209        149,510  

Games Workshop Group PLC

     1,344        160,196  

Genus PLC

     174        6,183  

Harbour Energy PLC

     35,590        120,750  

Hargreaves Lansdown PLC

     11,762        116,258  

Howden Joinery Group PLC

     19,477        168,095  

HSBC Holdings PLC

     1,162,818        7,903,402  

IMI PLC

     9,336        177,077  

Imperial Brands PLC

     75,580        1,741,925  

Inchcape PLC

     12,830        122,864  

InterContinental Hotels Group PLC

     3,759        246,892  

Intertek Group PLC

     3,491        174,946  

Investec PLC

     28,092        156,166  

ITV PLC

     218,514        223,710  

J. Sainsbury PLC

     112,472        387,577  

Kingfisher PLC

     64,297        207,654  

Land Securities Group PLC(a)

     33,510        257,385  

Legal & General Group PLC

     322,702        953,223  

Liontrust Asset Management PLC

     9,041        114,247  

Lloyds Banking Group PLC

     2,386,511        1,406,795  

London Stock Exchange Group PLC

     4,519        439,626  

Londonmetric Property PLC

     65,081        141,304  

Mondi PLC

     14,901        236,200  

Morgan Sindall Group PLC

     4,894        102,265  

National Grid PLC

     214,178        2,903,756  

Next PLC

     3,472        282,133  

OSB Group PLC

     39,058        232,580  

Pagegroup PLC

     25,927        146,310  

Pan African Resources PLC

     119,103        24,416  

Pearson PLC

     16,576        173,063  

Prudential PLC

     36,811        501,575  

QinetiQ Group PLC

     29,687        119,223  

Quilter PLC(b)

     65,481        68,220  

Reckitt Benckiser Group PLC

     22,815        1,737,148  

Redde Northgate PLC

     24,430        104,363  

Redrow PLC

     13,866        81,643  

RELX PLC

     48,934        1,584,006  

Rentokil Initial PLC

     15,701        114,850  

Rightmove PLC

     7,841        54,583  

RS Group PLC

     9,998        112,989  

RWS Holdings PLC

     4,794        17,723  

Safestore Holdings PLC

     7,895        92,737  

Sage Group PLC

     28,836        276,321  

Savills PLC

     8,910        109,231  

Schroders PLC

     61,560        350,133  

Segro PLC

     27,896        264,761  

Serco Group PLC(a)

     58,702        111,341  

Severn Trent PLC

     9,360        333,192  

Shell PLC

     312,865        8,930,246  

Smith & Nephew PLC

     21,351        296,202  

Smiths Group PLC

     14,721        312,434  

Spectris PLC

     3,873        175,221  

Spirax-Sarco Engineering PLC

     643        94,252  

 

See Notes to Financial Statements.

 

38   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree International Equity Fund (DWM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Spirent Communications PLC

     15,750      $ 33,749  

SSE PLC

     44,641        995,190  

St. James’s Place PLC

     18,110        271,168  

Standard Chartered PLC

     49,094        372,833  

Tate & Lyle PLC

     15,913        154,375  

TBC Bank Group PLC

     4,981        137,956  

Telecom Plus PLC

     3,292        76,930  

Tesco PLC

     247,396        812,757  

TP ICAP Group PLC

     29,982        66,765  

Travis Perkins PLC

     31,539        372,962  

Tritax Big Box REIT PLC

     77,648        134,315  

Unilever PLC

     73,574        3,811,667  

Unite Group PLC

     15,339        181,978  

United Utilities Group PLC

     26,571        348,249  

Vesuvius PLC

     20,755        106,191  

Victrex PLC

     3,775        74,355  

Vodafone Group PLC

     1,619,531        1,788,205  

Weir Group PLC

     2,841        65,302  

Wincanton PLC

     19,292        51,524  

Workspace Group PLC

     20,855        112,634  
     

 

 

 
Total United Kingdom

 

     70,739,452  
United States – 1.1%

 

GSK PLC

     190,286        3,362,139  

Stellantis NV

     169,700        3,085,625  
     

 

 

 
Total United States

 

     6,447,764  
TOTAL COMMON STOCKS
(Cost: $483,125,308)

 

     563,708,493  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 8.0%

 

United States – 8.0%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(c)

     
(Cost: $45,815,394)      45,815,394      45,815,394  
TOTAL INVESTMENTS IN SECURITIES – 106.9%
(Cost: $528,940,702)

 

     609,523,887  

Other Assets less Liabilities – (6.9)%

 

     (39,370,956
     

 

 

 
NET ASSETS – 100.0%

 

   $ 570,152,931  

 

* 

Non-income producing security.

 

 

Share amount represents a fractional share.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $62,266,565 and the total market value of the collateral held by the Fund was $65,792,668. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $19,977,274.

 

(b) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

     

Investments in Securities

  

Common Stocks

   $ 563,708,493      $      $      $ 563,708,493  

Investment of Cash Collateral for Securities Loaned

            45,815,394               45,815,394  

Total Investments in Securities

   $ 563,708,493      $ 45,815,394      $      $ 609,523,887  

 

See Notes to Financial Statements.

 

WisdomTree Trust      39  


Schedule of Investments

WisdomTree International High Dividend Fund (DTH)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.5%

 

Australia – 17.7%

 

Abacus Property Group

     97,253      $ 169,352  

Accent Group Ltd.

     57,411        91,129  

Adbri Ltd.(a)

     66,816        70,929  

Ampol Ltd.

     19,821        404,758  

ANZ Group Holdings Ltd.

     197,390        3,031,392  

APA Group

     98,287        666,177  

Aurizon Holdings Ltd.

     135,321        304,521  

Australian Clinical Labs Ltd.(a)

     37,528        88,724  

Bank of Queensland Ltd.(a)

     28,910        125,662  

Bendigo & Adelaide Bank Ltd.(a)

     37,983        220,557  

BHP Group Ltd.

     758,280        23,986,142  

BWP Trust

     37,477        94,879  

Centuria Capital Group(a)

     56,243        56,880  

Centuria Industrial REIT

     39,587        79,540  

Champion Iron Ltd.(a)

     24,758        118,393  

Charter Hall Long Wale REIT

     77,080        216,306  

Codan Ltd.

     12,000        43,721  

Commonwealth Bank of Australia

     80,341        5,290,442  

Cromwell Property Group

     484,903        180,244  

CSR Ltd.

     51,739        164,598  

Dalrymple Bay Infrastructure Ltd.

     30,355        54,485  

Deterra Royalties Ltd.

     59,587        191,560  

Dexus

     116,272        584,828  

Dicker Data Ltd.(a)

     8,482        46,526  

Downer EDI Ltd.

     32,843        75,448  

Eagers Automotive Ltd.(a)

     15,585        140,809  

First Resources Ltd.

     126,300        149,141  

GPT Group(a)

     167,298        475,083  

Growthpoint Properties Australia Ltd.

     106,752        217,351  

GUD Holdings Ltd.(a)

     8,022        52,599  

Harvey Norman Holdings Ltd.(a)

     111,720        267,872  

Helia Group Ltd.

     43,444        83,507  

HomeCo Daily Needs REIT

     144,330        111,648  

Incitec Pivot Ltd.

     150,488        315,471  

Insignia Financial Ltd.

     31,727        58,223  

IRESS Ltd.

     12,699        84,371  

JB Hi-Fi Ltd.

     13,190        375,180  

McMillan Shakespeare Ltd.

     9,101        87,774  

Metcash Ltd.(a)

     81,673        210,597  

Mirvac Group(a)

     212,708        296,319  

Myer Holdings Ltd.

     86,560        51,596  

National Australia Bank Ltd.

     166,095        3,083,633  

New Hope Corp. Ltd.

     93,797        356,821  

Nick Scali Ltd.(a)

     9,606        60,154  

Nine Entertainment Co. Holdings Ltd.(a)

     118,925        156,911  

NRW Holdings Ltd.

     56,713        91,161  

Origin Energy Ltd.

     89,432        496,547  

Orora Ltd.

     91,444        209,457  

Perpetual Ltd.(a)

     3,717        54,669  

Premier Investments Ltd.

     7,442        130,040  

Region RE Ltd.

     56,465        88,871  

Rio Tinto Ltd.

     190,652        13,459,619  

Scentre Group

     311,050      572,896  

Sims Ltd.

     23,275        241,777  

SmartGroup Corp. Ltd.(a)

     28,633        122,924  

South32 Ltd.

     722,327        2,114,113  

Stockland

     284,330        757,912  

Super Retail Group Ltd.(a)

     21,334        179,320  

Telstra Group Ltd.

     858,204        2,425,581  

Terracom Ltd.(a)

     89,964        40,370  

Vicinity Ltd.

     349,070        454,721  

Viva Energy Group Ltd.(b)

     134,772        273,499  

Waypoint REIT Ltd.

     66,945        116,126  

Wesfarmers Ltd.

     54,978        1,850,282  

Westpac Banking Corp.

     142,432        2,066,231  

Whitehaven Coal Ltd.

     70,696        318,656  

Woodside Energy Group Ltd.

     185,912        4,151,317  
     

 

 

 
Total Australia

 

     73,208,342  
Austria – 0.8%

 

BAWAG Group AG*(b)

     7,251        351,825  

Erste Group Bank AG

     20,910        692,889  

Lenzing AG

     2,614        197,378  

Oesterreichische Post AG(a)

     6,258        231,506  

OMV AG

     19,947        915,834  

Semperit AG Holding

     3,485        93,900  

Telekom Austria AG*

     49,824        376,212  

Voestalpine AG

     10,181        345,993  
     

 

 

 
Total Austria

 

     3,205,537  
Belgium – 1.1%

 

Aedifica SA

     1,565        125,992  

Ageas SA/NV

     14,470        626,636  

Bekaert SA

     3,276        148,063  

bpost SA

     18,928        107,860  

Cofinimmo SA

     3,213        284,672  

Etablissements Franz Colruyt NV(a)

     6,488        189,756  

Intervest Offices & Warehouses NV

     1,919        36,486  

KBC Group NV

     25,061        1,723,502  

Proximus SADP

     36,731        354,927  

Solvay SA

     5,078        581,215  

VGP NV

     2,301        205,494  
     

 

 

 
Total Belgium

 

     4,384,603  
China – 0.8%

 

BOC Hong Kong Holdings Ltd.

     544,547        1,696,084  

CITIC Telecom International Holdings Ltd.

     857,000        349,353  

Wilmar International Ltd.

     299,200        947,412  

Yanlord Land Group Ltd.

     306,900        210,055  
     

 

 

 
Total China

 

     3,202,904  
Denmark – 0.7%

 

AP Moller – Maersk A/S, Class B

     861        1,562,760  

D/S Norden A/S

     5,387        362,352  

Pandora A/S

     4,132        394,967  

Scandinavian Tobacco Group A/S(b)

     9,302        184,777  

Sydbank A/S

     3,510        158,081  

Topdanmark A/S*

     5,937        317,608  
     

 

 

 
Total Denmark

 

     2,980,545  

 

See Notes to Financial Statements.

 

40   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International High Dividend Fund (DTH)

March 31, 2023

 

 

 

Investments    Shares      Value  
Finland – 1.7%

 

Anora Group Oyj(a)

     5,030      $ 30,275  

Citycon Oyj(a)

     10,406        71,169  

Elisa Oyj

     14,391        868,686  

Fiskars Oyj Abp(a)

     3,457        58,967  

Fortum Oyj*

     71,541        1,097,098  

Kemira Oyj

     17,002        299,613  

Kesko Oyj, Class A(a)

     5,367        116,386  

Konecranes Oyj

     4,940        165,520  

Metsa Board Oyj, Class B(a)

     13,785        111,127  

Nordea Bank Abp(a)

     212,966        2,272,284  

Sampo Oyj, Class A

     25,058        1,183,711  

Sanoma Oyj

     12,838        113,117  

TietoEVRY Oyj(a)

     8,313        261,196  

Tokmanni Group Corp.(a)

     4,557        62,927  

Uponor Oyj(a)

     3,853        71,289  

Valmet Oyj(a)

     9,169        297,256  
     

 

 

 
Total Finland

 

     7,080,621  
France – 10.5%

 

ALD SA(b)

     44,719        524,718  

AXA SA

     168,843        5,166,572  

BNP Paribas SA

     71,405        4,283,079  

Bouygues SA(a)

     26,022        878,964  

Chargeurs SA

     87        1,471  

Cie Generale des Etablissements Michelin SCA

     30,158        922,175  

Coface SA

     16,368        232,068  

Derichebourg SA

     12,427        72,907  

Engie SA

     242,270        3,836,084  

Fnac Darty SA

     1,945        71,805  

Gecina SA

     4,586        476,074  

Imerys SA(a)

     4,166        180,141  

Jacquet Metals SACA

     2,554        49,669  

Klepierre SA(a)

     24,101        545,947  

Maisons du Monde SA(b)

     3,668        39,472  

Metropole Television SA(a)

     19,370        314,616  

Orange SA

     308,783        3,674,147  

Publicis Groupe SA

     11,241        876,634  

Rexel SA*

     20,234        482,532  

Rothschild & Co.

     4,723        238,862  

Rubis SCA

     10,993        294,642  

Sanofi

     52,768        5,746,738  

Societe Generale SA

     45,699        1,031,969  

Television Francaise 1(a)

     24,270        214,505  

TotalEnergies SE(a)

     201,940        11,926,459  

Veolia Environnement SA

     28,612        882,828  

Verallia SA(b)

     5,853        249,908  

Vicat SA

     3,521        105,772  
     

 

 

 
Total France

 

     43,320,758  
Georgia – 0.0%

 

Bank of Georgia Group PLC

     3,306        112,412  
Germany – 10.6%

 

Allianz SE, Registered Shares

     19,120        4,420,478  

BASF SE

     68,178        3,582,121  

Bayer AG, Registered Shares

     40,948      2,612,333  

Bayerische Motoren Werke AG

     44,799        4,912,939  

Dermapharm Holding SE

     3,036        124,616  

Deutsche Post AG, Registered Shares

     62,414        2,921,919  

Deutz AG

     16,124        104,670  

DWS Group GmbH & Co. KGaA(b)

     15,603        480,077  

E.ON SE

     167,626        2,094,348  

Evonik Industries AG

     27,813        585,009  

Fielmann AG

     3,768        157,118  

Freenet AG

     14,723        383,099  

Hamburger Hafen und Logistik AG

     4,974        61,498  

Hapag-Lloyd AG(a)(b)

     19,062        6,254,392  

HeidelbergCement AG

     10,384        758,807  

Indus Holding AG

     2,168        58,886  

Instone Real Estate Group SE(b)

     4,989        42,278  

Kloeckner & Co. SE

     13,420        144,416  

Mercedes-Benz Group AG

     96,352        7,409,365  

Muenchener Rueckversicherungs – Gesellschaft AG in Muenchen, Registered Shares

     4,785        1,676,569  

Siltronic AG

     1,716        125,284  

Sixt SE

     1,257        167,431  

Stroeer SE & Co. KGaA

     2,594        137,136  

Talanx AG

     11,049        512,579  

Telefonica Deutschland Holding AG

     244,657        754,096  

Varta AG(a)

     3,662        100,459  

Volkswagen AG

     13,875        2,381,770  

Wacker Chemie AG

     3,631        589,368  

Wacker Neuson SE

     5,002        104,830  
     

 

 

 
Total Germany

 

     43,657,891  
Hong Kong – 3.8%

 

Bank of East Asia Ltd.(a)

     131,400        167,055  

Champion REIT(a)

     572,000        245,561  

CLP Holdings Ltd.

     145,500        1,050,943  

Dah Sing Banking Group Ltd.

     151,200        115,760  

Dah Sing Financial Holdings Ltd.

     18,000        46,204  

Fortune Real Estate Investment Trust

     234,000        193,759  

Hang Lung Group Ltd.

     175,000        308,983  

Hang Lung Properties Ltd.

     273,000        510,531  

Henderson Land Development Co. Ltd.

     436,220        1,508,720  

Hong Kong & China Gas Co. Ltd.

     1,079,000        949,801  

Hutchison Port Holdings Trust

     1,104,023        206,452  

Hysan Development Co. Ltd.

     60,000        170,447  

Link REIT

     254,650        1,638,205  

New World Development Co. Ltd.

     264,000        707,928  

PCCW Ltd.

     1,651,000        824,454  

Power Assets Holdings Ltd.

     255,518        1,370,366  

Sino Land Co. Ltd.

     774,336        1,047,580  

Sun Hung Kai Properties Ltd.

     247,000        3,461,168  

Swire Pacific Ltd., Class B

     182,500        225,743  

Swire Properties Ltd.

     356,000        916,082  

Tam Jai International Co. Ltd.

     175,000        51,943  
     

 

 

 
Total Hong Kong

 

     15,717,685  
Indonesia – 0.0%

 

Bumitama Agri Ltd.(a)

     199,100        84,609  

 

See Notes to Financial Statements.

 

WisdomTree Trust      41  


Schedule of Investments (continued)

WisdomTree International High Dividend Fund (DTH)

March 31, 2023

 

 

 

Investments    Shares      Value  

Nickel Industries Ltd.

     146,758      $ 88,462  
     

 

 

 
Total Indonesia

 

     173,071  
Ireland – 0.0%

 

Cairn Homes PLC

     34,951        38,732  

Kenmare Resources PLC

     10,693        62,074  
     

 

 

 
Total Ireland

 

     100,806  
Israel – 0.7%

 

Amot Investments Ltd.

     27,275        138,093  

Ashtrom Group Ltd.

     10,037        150,528  

Bank Leumi Le-Israel BM

     92,789        695,792  

Delek Automotive Systems Ltd.

     16,023        148,675  

Delek Group Ltd.

     0        19  

FIBI Holdings Ltd.

     1,345        50,242  

First International Bank of Israel Ltd.

     2,979        104,660  

G City Ltd.

     18,936        62,320  

Gav-Yam Lands Corp. Ltd.

     15,046        109,690  

Harel Insurance Investments & Financial Services Ltd.

     6,379        53,503  

ICL Group Ltd.

     167,085        1,119,731  

Matrix IT Ltd.

     1,537        26,961  

Oil Refineries Ltd.

     136,737        37,254  

Phoenix Holdings Ltd.

     14,813        146,458  

Plus500 Ltd.(a)

     4,426        92,595  
     

 

 

 
Total Israel

 

     2,936,521  
Italy – 3.4%

 

A2A SpA(a)

     245,135        391,501  

ACEA SpA

     15,650        214,237  

Anima Holding SpA(b)

     36,760        149,607  

Assicurazioni Generali SpA

     87,293        1,743,149  

Azimut Holding SpA(a)

     7,567        161,957  

Banca Generali SpA(a)

     4,785        152,737  

Banca Mediolanum SpA

     51,303        465,859  

Banca Popolare di Sondrio SpA

     13,166        55,987  

Banco BPM SpA(a)

     72,791        285,097  

Credito Emiliano SpA

     14,314        106,061  

Cromwell European Real Estate Investment Trust

     69,200        113,525  

De’ Longhi SpA

     6,725        153,872  

Eni SpA(a)

     280,769        3,936,865  

Esprinet SpA

     9,502        95,182  

Hera SpA

     44,398        125,511  

Immobiliare Grande Distribuzione SIIQ SpA(a)

     12,400        38,126  

Iren SpA

     104,637        200,650  

Italgas SpA(a)

     91,912        561,700  

Maire Tecnimont SpA(a)

     17,453        75,051  

Mediobanca Banca di Credito Finanziario SpA(a)

     54,326        547,020  

Poste Italiane SpA(b)

     55,552        568,056  

Snam SpA

     314,788        1,672,045  

Terna – Rete Elettrica Nazionale

     148,309        1,219,112  

Unieuro SpA(a)(b)

     3,439        40,576  

Unipol Gruppo SpA

     38,424        197,917  

UnipolSai Assicurazioni SpA(a)

     237,209        599,962  
     

 

 

 
Total Italy

 

     13,871,362  
Japan – 11.4%

 

77 Bank Ltd.(a)

     2,700      43,861  

AGC, Inc.

     9,400        347,847  

Aisin Corp.

     19,000        520,362  

Akita Bank Ltd.

     4,400        58,318  

Aozora Bank Ltd.(a)

     17,500        315,444  

Asahi Holdings, Inc.(a)

     3,800        57,732  

CKD Corp.

     2,100        33,924  

Concordia Financial Group Ltd.(a)

     68,100        249,702  

Cosmo Energy Holdings Co. Ltd.

     3,800        122,346  

Daicel Corp.

     4,500        33,812  

Daido Steel Co. Ltd.(a)

     1,600        62,514  

Daiho Corp.(a)

     1,000        27,650  

Daiken Corp.

     1,800        30,836  

Daiwa House Industry Co. Ltd.

     30,400        711,290  

Daiwa Securities Group, Inc.(a)

     64,900        302,824  

Denka Co. Ltd.(a)

     3,100        63,705  

DIC Corp.

     2,100        37,554  

Eagle Industry Co. Ltd.

     2,900        25,886  

ENEOS Holdings, Inc.

     256,800        897,613  

Exedy Corp.

     3,400        46,316  

EXEO Group, Inc.

     4,000        72,042  

G-Tekt Corp.(a)

     3,100        33,355  

H.U. Group Holdings, Inc.(a)

     4,600        92,145  

Hakuto Co. Ltd.(a)

     2,200        81,246  

Haseko Corp.

     24,800        286,777  

Iida Group Holdings Co. Ltd.(a)

     16,600        269,287  

Iino Kaiun Kaisha Ltd.

     6,200        46,771  

Inabata & Co. Ltd.(a)

     2,000        40,379  

Inpex Corp.

     63,800        669,687  

Inui Global Logistics Co. Ltd.(a)

     2,700        36,375  

Isuzu Motors Ltd.

     40,800        484,057  

Japan Post Holdings Co. Ltd.

     174,900        1,414,681  

Japan Post Insurance Co. Ltd.

     20,900        324,595  

Japan Tobacco, Inc.

     145,900        3,067,309  

Kajima Corp.

     38,100        457,463  

Kanematsu Corp.

     3,200        39,480  

Kansai Electric Power Co., Inc.

     47,300        458,820  

Kawasaki Kisen Kaisha Ltd.(a)

     30,900        702,326  

Ki-Star Real Estate Co. Ltd.(a)

     700        21,801  

Kobe Steel Ltd.(a)

     37,300        295,115  

Konica Minolta, Inc.(a)

     44,200        188,968  

Kyokuto Kaihatsu Kogyo Co. Ltd.(a)

     2,700        32,784  

Macnica Holdings, Inc.

     1,700        48,028  

Marubeni Corp.

     136,200        1,837,457  

Mitsubishi Chemical Group Corp.

     65,100        384,319  

Mitsubishi UFJ Financial Group, Inc.

     496,000        3,159,955  

Mitsuboshi Belting Ltd.(a)

     3,600        106,439  

Mitsui OSK Lines Ltd.(a)

     61,700        1,534,503  

Mitsui-Soko Holdings Co. Ltd.(a)

     1,200        35,390  

MIXI, Inc.

     1,600        32,002  

Mizuho Financial Group, Inc.

     106,060        1,496,586  

MS&AD Insurance Group Holdings, Inc.

     23,800        734,261  

NGK Spark Plug Co. Ltd.(a)

     20,100        413,206  

 

See Notes to Financial Statements.

 

42   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International High Dividend Fund (DTH)

March 31, 2023

 

 

 

Investments    Shares      Value  

Nippon Denko Co. Ltd.(a)

     17,700      $ 47,478  

Nippon Electric Glass Co. Ltd.

     3,200        61,288  

Nippon Pillar Packing Co. Ltd.(a)

     2,800        78,894  

Nippon Soda Co. Ltd.

     900        31,208  

Nippon Steel Corp.

     81,900        1,919,964  

Nippon Steel Trading Corp.

     2,000        139,605  

Nippon Yusen KK(a)

     86,200        2,000,690  

Nishimatsu Construction Co. Ltd.(a)

     4,400        113,232  

Nitto Kogyo Corp.(a)

     1,200        23,821  

Nittoc Construction Co. Ltd.

     26,100        190,617  

NOK Corp.(a)

     5,400        59,360  

NS United Kaiun Kaisha Ltd.(a)

     900        27,827  

Pacific Industrial Co. Ltd.(a)

     3,100        26,880  

PHC Holdings Corp.(a)

     3,900        41,963  

Press Kogyo Co. Ltd.

     17,200        64,359  

Sanyo Special Steel Co. Ltd.(a)

     2,400        44,217  

SBI Holdings, Inc.(a)

     19,400        382,490  

Sekisui House Ltd.

     40,200        814,934  

Seven Bank Ltd.(a)

     41,400        82,433  

Sharp Corp.(a)

     27,300        191,381  

SoftBank Corp.(a)

     459,800        5,282,397  

Sojitz Corp.

     21,280        441,781  

Sompo Holdings, Inc.

     19,400        765,563  

Sumitomo Chemical Co. Ltd.(a)

     88,400        295,574  

Sumitomo Corp.

     116,700        2,052,706  

Sumitomo Forestry Co. Ltd.

     19,200        377,970  

Sumitomo Heavy Industries Ltd.

     8,800        214,231  

Sumitomo Metal Mining Co. Ltd.

     19,800        751,147  

Sumitomo Mitsui Financial Group, Inc.

     66,100        2,631,286  

Sumitomo Mitsui Trust Holdings, Inc.

     19,700        672,159  

T&D Holdings, Inc.(a)

     22,000        271,260  

Takeda Pharmaceutical Co. Ltd.

     85,600        2,797,806  

Tama Home Co. Ltd.(a)

     2,600        71,501  

Tokai Rika Co. Ltd.

     2,900        35,452  

Tokyo Seimitsu Co. Ltd.

     1,600        61,552  

Tosoh Corp.

     24,100        325,402  

Toyo Seikan Group Holdings Ltd.(a)

     20,100        275,773  

Toyo Tire Corp.(a)

     4,900        56,883  

TPR Co. Ltd.(a)

     3,200        32,195  

TS Tech Co. Ltd.

     3,200        40,370  

UBE Corp.(a)

     2,200        33,970  

YAMABIKO Corp.

     2,700        26,698  

Yamaha Motor Co. Ltd.

     19,700        512,150  

Yamaichi Electronics Co. Ltd.(a)

     1,500        22,169  
     

 

 

 
Total Japan

 

     47,277,781  
Netherlands – 1.5%

 

Aegon NV

     65,279        280,214  

ASR Nederland NV

     7,662        305,838  

BE Semiconductor Industries NV

     5,075        441,650  

Heijmans NV, CVA

     3,482        47,817  

Koninklijke KPN NV

     345,190        1,221,103  

Koninklijke Vopak NV

     7,968        281,260  

NN Group NV

     15,673        569,754  

OCI NV(a)

     33,940        1,152,685  

Ordina NV

     12,146      78,648  

Randstad NV(a)

     18,083        1,072,687  

RHI Magnesita NV

     4,149        114,913  

SBM Offshore NV

     15,899        236,215  

Signify NV(b)

     8,656        288,148  
     

 

 

 
Total Netherlands

 

     6,090,932  
Norway – 2.2%

 

AF Gruppen ASA

     16,045        228,271  

Aker BP ASA(a)

     41,770        1,022,205  

Atea ASA*

     8,864        108,334  

Austevoll Seafood ASA

     11,575        103,779  

Belships ASA

     39,674        76,521  

DNB Bank ASA

     88,078        1,575,600  

Entra ASA(b)

     9,830        94,892  

Europris ASA(b)

     10,385        72,039  

Gjensidige Forsikring ASA(a)

     26,222        428,892  

Leroy Seafood Group ASA

     31,903        165,408  

MPC Container Ships ASA

     84,743        135,007  

Norsk Hydro ASA

     105,868        786,446  

Salmar ASA

     7,673        333,937  

SpareBank 1 Nord Norge(a)

     10,278        86,459  

SpareBank 1 Oestlandet

     4,764        51,765  

SpareBank 1 SR-Bank ASA

     5,075        58,634  

Storebrand ASA

     17,080        130,989  

Telenor ASA

     216,409        2,535,389  

Veidekke ASA

     19,179        203,636  

Yara International ASA

     18,902        819,205  
     

 

 

 
Total Norway

 

     9,017,408  
Portugal – 0.6%

 

Altri SGPS SA(a)

     6,019        31,036  

EDP – Energias de Portugal SA

     181,936        991,484  

Galp Energia SGPS SA

     43,982        499,823  

Navigator Co. SA

     54,787        196,189  

NOS SGPS SA

     39,741        182,033  

REN – Redes Energeticas Nacionais SGPS SA

     100,715        295,439  

Sonae SGPS SA

     148,148        161,760  
     

 

 

 
Total Portugal

 

     2,357,764  
Singapore – 2.7%

 

Aztech Global Ltd.

     86,600        52,759  

CapitaLand Ascendas REIT

     368,500        792,682  

CapitaLand Ascott Trust

     189,200        141,592  

Capitaland India Trust(a)

     90,500        74,194  

CapitaLand Integrated Commercial Trust

     546,400        813,713  

Frasers Centrepoint Trust

     84,800        146,058  

Frasers Logistics & Commercial Trust

     385,000        379,339  

Geo Energy Resources Ltd.(a)

     221,000        54,853  

Kenon Holdings Ltd.

     5,849        171,215  

Keppel Corp. Ltd.

     92,000        389,575  

Keppel DC REIT

     113,300        175,547  

Keppel Infrastructure Trust(a)

     796,321        314,444  

Keppel REIT

     347,500        231,309  

Mapletree Industrial Trust

     240,700        429,062  

Mapletree Logistics Trust(a)

     243,500        313,177  

 

See Notes to Financial Statements.

 

WisdomTree Trust      43  


Schedule of Investments (continued)

WisdomTree International High Dividend Fund (DTH)

March 31, 2023

 

 

 

Investments    Shares      Value  

Mapletree Pan Asia Commercial Trust

     261,700      $ 354,300  

NetLink NBN Trust

     495,800        320,701  

Olam Group Ltd.

     276,000        325,915  

OUE Commercial Real Estate Investment Trust

     431,800        102,303  

Oversea-Chinese Banking Corp. Ltd.

     236,992        2,204,950  

PARAGON REIT(a)

     299,600        212,946  

Samudera Shipping Line Ltd.

     85,700        81,217  

Singapore Technologies Engineering Ltd.

     239,500        659,298  

Singapore Telecommunications Ltd.

     18,600        34,555  

Suntec Real Estate Investment Trust(a)

     260,100        279,751  

United Overseas Bank Ltd.

     88,400        1,978,703  

Venture Corp. Ltd.

     17,500        232,579  
     

 

 

 
Total Singapore

 

     11,266,737  
Spain – 5.6%

 

Acerinox SA

     23,943        246,446  

ACS Actividades de Construccion y Servicios SA

     32,581        1,038,920  

Atresmedia Corp. de Medios de Comunicacion SA

     32,775        123,704  

Banco Bilbao Vizcaya Argentaria SA(a)

     271,420        1,937,684  

Banco Santander SA(a)

     507,666        1,889,623  

Bankinter SA(a)

     35,363        200,784  

CaixaBank SA

     251,901        980,861  

Cia de Distribucion Integral Logista Holdings SA

     20,047        500,941  

Enagas SA(a)

     29,099        559,579  

Ence Energia y Celulosa SA(a)

     17,428        64,946  

Endesa SA

     153,515        3,335,727  

Fluidra SA(a)

     10,252        180,329  

Fomento de Construcciones y Contratas SA

     26,730        261,367  

Iberdrola SA

     312,553        3,899,998  

Inmobiliaria Colonial Socimi SA

     21,438        135,672  

Linea Directa Aseguradora SA Cia de Seguros y Reaseguros(a)

     79,988        86,251  

Mapfre SA(a)

     216,787        437,611  

Merlin Properties Socimi SA

     74,837        655,332  

Naturgy Energy Group SA(a)

     73,986        2,230,603  

Prosegur Cash SA(a)(b)

     2,619        2,009  

Red Electrica Corp. SA

     38,924        685,081  

Repsol SA

     84,844        1,307,556  

Sacyr SA(a)

     19,697        63,343  

Telefonica SA

     508,126        2,193,308  
     

 

 

 
Total Spain

 

     23,017,675  
Sweden – 1.7%

 

Avanza Bank Holding AB(a)

     5,235        122,677  

Betsson AB, Class B*

     5,253        49,949  

Bilia AB, Class A

     7,033        86,814  

Clas Ohlson AB, Class B(a)

     5,856        43,541  

Cloetta AB, Class B

     20,430        43,108  

Coor Service Management Holding AB(b)

     4,959        31,635  

Corem Property Group AB, Class B(a)

     68,693        47,928  

Dios Fastigheter AB

     5,892        39,121  

Fabege AB(a)

     16,770        128,764  

Hexpol AB

     17,060        211,408  

Husqvarna AB, Class B(a)

     21,282        184,384  

Inwido AB

     4,602        48,907  

JM AB(a)

     4,476      74,157  

NCC AB, Class B

     5,717        50,667  

Peab AB, Class B

     18,233        91,169  

Resurs Holding AB(b)

     19,416        43,252  

Samhallsbyggnadsbolaget i Norden AB, Class D(a)

     24,322        37,763  

Securitas AB, Class B(a)

     21,484        191,189  

Skandinaviska Enskilda Banken AB, Class A*(a)

     85,403        941,780  

SKF AB, Class B(a)

     17,837        350,907  

SSAB AB, Class B

     104,293        743,459  

Svenska Handelsbanken AB, Class A(a)

     76,845        665,772  

Swedbank AB, Class A(a)

     72,134        1,183,619  

Tele2 AB, Class B(a)

     52,874        526,468  

Telia Co. AB(a)

     415,931        1,057,722  

Thule Group AB(a)(b)

     7,161        175,891  

Wihlborgs Fastigheter AB

     10,609        81,182  
     

 

 

 
Total Sweden

 

     7,253,233  
Switzerland – 7.3%

 

Allreal Holding AG, Registered Shares

     1,319        222,637  

Baloise Holding AG, Registered Shares

     2,584        402,782  

Cembra Money Bank AG

     1,114        87,615  

EFG International AG*

     11,893        116,515  

Helvetia Holding AG, Registered Shares

     2,984        416,137  

Holcim AG, Registered Shares*

     34,458        2,221,637  

Julius Baer Group Ltd.

     8,268        564,021  

Kuehne & Nagel International AG, Registered Shares

     5,627        1,674,765  

Novartis AG, Registered Shares

     148,794        13,642,368  

OC Oerlikon Corp. AG, Registered Shares

     28,833        162,699  

Sulzer AG, Registered Shares(a)

     2,363        200,333  

Swiss Life Holding AG, Registered Shares

     1,353        834,119  

Swiss Prime Site AG, Registered Shares

     4,172        347,305  

Swiss Re AG

     18,669        1,917,683  

Swisscom AG, Registered Shares

     4,166        2,659,527  

Vontobel Holding AG, Registered Shares

     2,108        136,834  

Zurich Insurance Group AG

     9,178        4,397,363  
     

 

 

 
Total Switzerland

 

     30,004,340  
United Kingdom – 11.5%

 

Anglo American PLC

     110,283        3,651,705  

Ashmore Group PLC

     58,411        172,322  

Assura PLC

     195,545        118,134  

Aviva PLC

     154,314        771,220  

Bellway PLC

     7,677        209,493  

BP PLC

     922,875        5,828,682  

British American Tobacco PLC

     167,197        5,872,187  

British Land Co. PLC

     51,265        245,813  

BT Group PLC

     612,376        1,103,957  

Central Asia Metals PLC

     21,384        62,531  

Close Brothers Group PLC

     15,019        167,318  

CLS Holdings PLC

     21,167        35,175  

CMC Markets PLC(a)(b)

     12,549        27,277  

Crest Nicholson Holdings PLC

     19,106        51,594  

Currys PLC

     69,461        50,457  

DFS Furniture PLC(a)

     26,089        43,935  

 

See Notes to Financial Statements.

 

44   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International High Dividend Fund (DTH)

March 31, 2023

 

 

 

Investments    Shares      Value  

Diversified Energy Co. PLC

     127,711      $ 149,381  

Domino’s Pizza Group PLC

     15,469        54,817  

DS Smith PLC

     61,657        239,762  

Dunelm Group PLC(a)

     9,277        126,750  

Empiric Student Property PLC

     35,683        39,841  

FDM Group Holdings PLC

     4,813        43,145  

Forterra PLC(b)

     13,867        34,052  

Games Workshop Group PLC

     1,500        178,791  

Halfords Group PLC

     16,973        36,684  

Hargreaves Lansdown PLC

     17,749        175,434  

Hilton Food Group PLC

     4,941        42,276  

HSBC Holdings PLC

     1,228,945        8,352,852  

Ibstock PLC(b)

     26,750        57,054  

Imperial Brands PLC

     108,327        2,496,659  

Investec PLC

     33,009        183,500  

ITV PLC

     282,400        289,116  

J. Sainsbury PLC

     153,737        529,776  

Kingfisher PLC

     115,260        372,245  

Land Securities Group PLC

     51,521        395,724  

Legal & General Group PLC

     353,482        1,044,143  

Liontrust Asset Management PLC

     4,818        60,883  

Lloyds Banking Group PLC

     2,513,060        1,481,392  

Londonmetric Property PLC

     89,786        194,944  

ME Group International PLC

     32,606        50,596  

Moneysupermarket.com Group PLC

     52,556        161,807  

Morgan Advanced Materials PLC

     11,997        41,979  

Morgan Sindall Group PLC

     2,226        46,515  

National Grid PLC

     304,712        4,131,186  

Ninety One PLC(a)

     16,850        38,585  

OSB Group PLC

     37,438        222,934  

Pagegroup PLC

     30,228        170,581  

Pets at Home Group PLC

     20,387        93,016  

Primary Health Properties PLC(a)

     51,668        64,652  

Quilter PLC(b)

     59,210        61,687  

Redde Northgate PLC

     31,843        136,031  

Redrow PLC

     25,225        148,524  

Schroders PLC

     41,647        236,874  

Serica Energy PLC

     20,456        56,024  

Severn Trent PLC

     11,662        415,137  

SSE PLC

     61,442        1,369,738  

St. James’s Place PLC

     15,691        234,948  

TBC Bank Group PLC

     4,791        132,694  

Tesco PLC

     369,638        1,214,352  

TP ICAP Group PLC

     29,529        65,757  

Travis Perkins PLC

     9,959      117,769  

Tritax Big Box REIT PLC

     76,252        131,900  

Tyman PLC

     15,844        47,115  

United Utilities Group PLC

     38,083        499,130  

Vesuvius PLC

     17,474        89,404  

Vodafone Group PLC

     2,294,185        2,533,124  

Watkin Jones PLC

     32,547        35,736  

Wickes Group PLC

     28,555        48,794  

Workspace Group PLC

     10,825        58,464  
     

 

 

 
Total United Kingdom

 

     47,646,074  
United States – 2.2%

 

GSK PLC

     274,890        4,856,996  

Stellantis NV(a)

     244,779        4,450,774  
     

 

 

 
Total United States

 

     9,307,770  
TOTAL COMMON STOCKS
(Cost: $380,598,603)

 

     407,192,772  
EXCHANGE-TRADED FUND – 0.3%

 

United States – 0.3%

 

WisdomTree International LargeCap Dividend Fund(c)

 

(Cost: $894,280)      22,580        1,054,486  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 9.6%

 

United States – 9.6%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(d)

     
(Cost: $39,582,958)      39,582,958        39,582,958  
TOTAL INVESTMENTS IN SECURITIES – 108.4%
(Cost: $421,075,841)

 

     447,830,216  

Other Assets less Liabilities – (8.4)%

 

     (34,643,437
     

 

 

 
NET ASSETS – 100.0%

 

   $ 413,186,779  

 

* 

Non-income producing security.

 

 

Share amount represents a fractional share.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $55,711,563. The total market value of the collateral held by the Fund was $58,784,559. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $19,201,601.

 

(b) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(c) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

(d) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

INVESTMENT IN AFFILIATES               

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate   Value at
3/31/2022
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2023
    Dividend
Income
 

WisdomTree International LargeCap Dividend Fund

  $ 882,052     $ 10,115,645     $ 9,560,803     $ (520,832   $ 138,424     $ 1,054,486     $ 144,253  

 

See Notes to Financial Statements.

 

WisdomTree Trust      45  


Schedule of Investments (concluded)

WisdomTree International High Dividend Fund (DTH)

March 31, 2023

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

Deutsche Bank AG

    4/3/2023       326,525       AUD       1,500,000       DKK     $     $ (78

Royal Bank of Canada

    4/3/2023       454,077       AUD       280,000       EUR             (88
                                            $     $ (166

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

        

Investments in Securities

  

Common Stocks

   $ 407,192,772      $      $      $ 407,192,772  

Exchange-Traded Fund

     1,054,486                      1,054,486  

Investment of Cash Collateral for Securities Loaned

            39,582,958               39,582,958  

Total Investments in Securities

   $ 408,247,258      $ 39,582,958      $      $ 447,830,216  

Liabilities:

        

Financial Derivative Instruments

  

Foreign Currency Contracts1

   $      $ (166    $      $ (166

Total – Net

   $ 408,247,258      $ 39,582,792      $      $ 447,830,050  
1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

46   WisdomTree Trust


Schedule of Investments

WisdomTree International LargeCap Dividend Fund (DOL)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.8%

 

Australia – 13.1%

 

ANZ Group Holdings Ltd.

     222,964      $ 3,424,141  

Aristocrat Leisure Ltd.

     10,820        269,577  

BHP Group Ltd.

     787,779        24,919,263  

Coles Group Ltd.

     69,409        837,690  

Commonwealth Bank of Australia

     86,478        5,694,562  

CSL Ltd.

     5,426        1,047,701  

Goodman Group

     34,284        431,451  

Macquarie Group Ltd.

     14,328        1,685,665  

National Australia Bank Ltd.

     185,306        3,440,294  

Rio Tinto Ltd.

     155,576        11,041,598  

Santos Ltd.

     137,725        636,465  

Telstra Group Ltd.

     835,389        2,361,098  

Transurban Group

     95,551        909,373  

Wesfarmers Ltd.

     44,826        1,508,617  

Westpac Banking Corp.

     158,162        2,294,423  

Woodside Energy Group Ltd.

     147,488        3,293,329  

Woolworths Group Ltd.

     31,099        789,403  
     

 

 

 
Total Australia

 

     64,584,650  
Austria – 0.1%

 

OMV AG

     15,597        716,111  
Belgium – 0.7%

 

Anheuser-Busch InBev SA

     15,064        1,003,744  

KBC Group NV

     28,144        1,935,527  

UCB SA

     3,250        291,093  
     

 

 

 
Total Belgium

 

     3,230,364  
China – 0.7%

 

BOC Hong Kong Holdings Ltd.

     616,134        1,919,054  

Prosus NV*

     6,530        510,379  

Wilmar International Ltd.

     263,500        834,369  
     

 

 

 
Total China

 

     3,263,802  
Denmark – 1.4%

 

AP Moller – Maersk A/S, Class B

     709        1,286,872  

Carlsberg A/S, Class B

     2,552        395,647  

Coloplast A/S, Class B

     4,261        560,423  

Novo Nordisk A/S, Class B

     21,772        3,447,804  

Orsted A/S(a)

     7,292        620,451  

Tryg A/S

     20,336        444,592  
     

 

 

 
Total Denmark

 

     6,755,789  
Finland – 1.4%

 

Fortum Oyj*

     58,011        889,613  

Kone Oyj, Class B

     17,022        887,690  

Neste Oyj(b)

     11,960        590,315  

Nordea Bank Abp(b)

     217,503        2,320,692  

Sampo Oyj, Class A

     33,616        1,587,981  

UPM-Kymmene Oyj*

     17,621        592,517  
     

 

 

 
Total Finland

 

     6,868,808  
France – 13.7%

 

Air Liquide SA

     9,392        1,573,447  

Airbus SE

     9,390        1,257,674  

AXA SA

     183,899        5,627,284  

BNP Paribas SA

     79,948      4,795,513  

Capgemini SE

     2,845        527,780  

Cie de Saint-Gobain

     16,494        937,569  

Cie Generale des Etablissements Michelin SCA

     26,434        808,302  

Danone SA(b)

     23,456        1,460,475  

Engie SA(b)

     202,057        3,199,355  

EssilorLuxottica SA

     5,639        1,016,997  

Hermes International

     845        1,711,245  

Kering SA

     2,787        1,816,762  

L’Oreal SA

     9,879        4,413,962  

Legrand SA

     5,500        502,418  

LVMH Moet Hennessy Louis Vuitton SE

     11,835        10,857,409  

Orange SA

     248,173        2,952,961  

Pernod Ricard SA

     8,381        1,900,325  

Publicis Groupe SA

     9,338        728,227  

Sanofi

     43,490        4,736,311  

Schneider Electric SE

     10,999        1,836,455  

Societe Generale SA

     51,551        1,164,118  

Thales SA

     6,062        898,009  

TotalEnergies SE(b)

     165,108        9,751,182  

Veolia Environnement SA

     26,267        810,473  

Vinci SA

     18,365        2,109,394  
     

 

 

 
Total France

 

     67,393,647  
Germany – 9.6%

 

adidas AG

     6,034        1,067,127  

Allianz SE, Registered Shares

     20,907        4,833,626  

BASF SE

     56,080        2,946,483  

Bayer AG, Registered Shares

     32,947        2,101,898  

Bayerische Motoren Werke AG

     37,477        4,109,962  

Deutsche Bank AG, Registered Shares

     40,134        407,955  

Deutsche Boerse AG

     3,522        686,661  

Deutsche Post AG, Registered Shares

     53,712        2,514,534  

Deutsche Telekom AG, Registered Shares

     224,763        5,457,730  

E.ON SE

     134,216        1,676,918  

Hannover Rueck SE

     5,432        1,064,353  

Hapag-Lloyd AG(a)(b)

     15,581        5,112,249  

Henkel AG & Co. KGaA

     7,224        525,851  

Infineon Technologies AG

     12,144        497,144  

Mercedes-Benz Group AG

     77,834        5,985,351  

Muenchener Rueckversicherungs – Gesellschaft AG in Muenchen, Registered Shares

     5,018        1,758,207  

RWE AG

     15,159        652,851  

SAP SE

     21,480        2,708,486  

Siemens Healthineers AG(a)

     17,981        1,035,770  

Vantage Towers AG

     10,273        377,468  

Volkswagen AG

     11,334        1,945,584  
     

 

 

 
Total Germany

 

     47,466,208  
Hong Kong – 3.2%

 

AIA Group Ltd.

     260,604        2,743,829  

CLP Holdings Ltd.

     128,000        924,541  

Hang Seng Bank Ltd.

     62,418        888,170  

Henderson Land Development Co. Ltd.

     363,219        1,256,237  

Hong Kong & China Gas Co. Ltd.

     913,925        804,492  

 

See Notes to Financial Statements.

 

WisdomTree Trust      47  


Schedule of Investments (continued)

WisdomTree International LargeCap Dividend Fund (DOL)

March 31, 2023

 

 

 

Investments    Shares      Value  

Hong Kong Exchanges & Clearing Ltd.

     38,824      $ 1,722,115  

Link REIT(b)

     214,355        1,378,981  

MTR Corp. Ltd.

     330,938        1,595,679  

Sun Hung Kai Properties Ltd.

     212,942        2,983,920  

Swire Properties Ltd.

     307,200        790,507  

Techtronic Industries Co. Ltd.

     40,000        432,359  
     

 

 

 
Total Hong Kong

 

     15,520,830  
Ireland – 0.2%

 

CRH PLC

     23,940        1,208,797  
Israel – 0.2%

 

Bank Hapoalim BM

     29,915        247,170  

Bank Leumi Le-Israel BM

     103,282        774,475  
     

 

 

 
Total Israel

 

     1,021,645  
Italy – 1.6%

 

Assicurazioni Generali SpA

     84,363        1,684,641  

Eni SpA(b)

     241,465        3,385,755  

Ferrari NV

     2,247        608,604  

Snam SpA

     259,209        1,376,829  

Terna – Rete Elettrica Nazionale(b)

     124,374        1,022,364  
     

 

 

 
Total Italy

 

     8,078,193  
Japan – 15.4%

 

Aeon Co. Ltd.

     18,745        361,407  

Asahi Group Holdings Ltd.

     12,735        471,163  

Astellas Pharma, Inc.

     48,900        691,853  

Bandai Namco Holdings, Inc.

     20,100        430,196  

Bridgestone Corp.

     21,455        865,196  

Canon, Inc.(b)

     40,736        904,615  

Chugai Pharmaceutical Co. Ltd.(b)

     53,400        1,312,029  

Dai-ichi Life Holdings, Inc.(b)

     33,700        616,572  

Daiichi Sankyo Co. Ltd.

     12,000        434,773  

Daikin Industries Ltd.

     2,800        497,663  

Daiwa House Industry Co. Ltd.

     22,900        535,807  

Denso Corp.

     18,400        1,029,012  

East Japan Railway Co.(b)

     5,900        325,167  

Eisai Co. Ltd.(b)

     4,700        265,000  

FANUC Corp.

     22,875        818,131  

Fast Retailing Co. Ltd.(b)

     2,100        455,692  

FUJIFILM Holdings Corp.

     10,300        518,367  

Fujitsu Ltd.

     2,800        375,220  

Hitachi Ltd.

     18,400        1,002,606  

Honda Motor Co. Ltd.(b)

     60,200        1,587,662  

Hoya Corp.

     2,800        306,319  

Inpex Corp.

     60,000        629,799  

ITOCHU Corp.(b)

     48,700        1,573,812  

Japan Post Holdings Co. Ltd.

     163,600        1,323,281  

Japan Tobacco, Inc.

     108,609        2,283,327  

Kao Corp.

     12,500        485,292  

KDDI Corp.

     91,080        2,801,040  

Keyence Corp.

     1,000        484,259  

Kirin Holdings Co. Ltd.

     26,600        418,917  

Komatsu Ltd.

     34,867        858,510  

Marubeni Corp.

     117,000        1,578,432  

Mitsubishi Corp.

     76,605      2,734,618  

Mitsubishi Electric Corp.

     55,181        654,468  

Mitsubishi Estate Co. Ltd.

     28,100        332,855  

Mitsubishi Heavy Industries Ltd.(b)

     7,000        256,458  

Mitsubishi UFJ Financial Group, Inc.

     521,800        3,324,324  

Mitsui & Co. Ltd.

     81,900        2,532,876  

Mitsui Fudosan Co. Ltd.

     20,700        386,346  

Mizuho Financial Group, Inc.

     112,114        1,582,013  

MS&AD Insurance Group Holdings, Inc.

     25,800        795,964  

Murata Manufacturing Co. Ltd.

     14,810        894,676  

Nintendo Co. Ltd.(b)

     40,300        1,553,680  

Nippon Steel Corp.

     63,800        1,495,650  

Nippon Telegraph & Telephone Corp.

     143,904        4,283,926  

Ono Pharmaceutical Co. Ltd.

     15,300        317,749  

Otsuka Holdings Co. Ltd.

     12,200        385,278  

Panasonic Holdings Corp.

     63,784        566,479  

Recruit Holdings Co. Ltd.

     8,500        233,113  

Secom Co. Ltd.

     5,600        343,515  

Sekisui House Ltd.

     28,200        571,670  

Seven & I Holdings Co. Ltd.

     16,300        731,779  

Shin-Etsu Chemical Co. Ltd.

     65,000        2,087,873  

Shionogi & Co. Ltd.

     6,200        278,439  

SMC Corp.

     950        498,448  

SoftBank Corp.(b)

     373,600        4,292,091  

Sompo Holdings, Inc.

     18,100        714,263  

Subaru Corp.

     19,200        305,045  

Sumitomo Corp.

     97,010        1,706,367  

Sumitomo Mitsui Financial Group, Inc.

     64,394        2,563,374  

Suzuki Motor Corp.(b)

     9,317        336,305  

Takeda Pharmaceutical Co. Ltd.

     67,100        2,193,140  

TDK Corp.

     7,600        269,817  

Tokio Marine Holdings, Inc.

     99,400        1,902,260  

Tokyo Electron Ltd.

     16,950        2,042,813  

Toshiba Corp.

     9,100        303,926  

Toyota Motor Corp.(b)

     413,465        5,840,515  
     

 

 

 
Total Japan

 

     75,553,232  
Netherlands – 1.7%

 

ASML Holding NV

     3,712        2,521,370  

Heineken Holding NV

     6,076        558,137  

Heineken NV

     13,206        1,421,279  

JDE Peet’s NV(b)

     11,730        341,796  

Koninklijke Ahold Delhaize NV

     30,687        1,049,873  

Koninklijke DSM NV

     2,925        345,434  

NN Group NV

     16,050        583,460  

Universal Music Group NV(b)

     33,592        850,540  

Wolters Kluwer NV

     5,396        682,100  
     

 

 

 
Total Netherlands

 

     8,353,989  
Norway – 1.5%

 

Aker BP ASA(b)

     36,791        900,357  

DNB Bank ASA

     100,925        1,805,416  

Equinor ASA

     92,866        2,648,602  

Telenor ASA

     181,060        2,121,250  
     

 

 

 
Total Norway

 

     7,475,625  

 

See Notes to Financial Statements.

 

48   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International LargeCap Dividend Fund (DOL)

March 31, 2023

 

 

 

Investments    Shares      Value  
Portugal – 0.3%

 

EDP – Energias de Portugal SA

     161,543      $ 880,350  

Jeronimo Martins SGPS SA

     31,084        730,133  
     

 

 

 
Total Portugal

 

     1,610,483  
Singapore – 2.1%

 

CapitaLand Investment Ltd.(b)

     250,600        693,624  

DBS Group Holdings Ltd.

     139,634        3,465,776  

Oversea-Chinese Banking Corp. Ltd.

     276,312        2,570,779  

Singapore Telecommunications Ltd.

     807,100        1,493,337  

United Overseas Bank Ltd.

     97,986        2,193,271  
     

 

 

 
Total Singapore

 

     10,416,787  
Spain – 4.0%

 

Banco Bilbao Vizcaya Argentaria SA(b)

     299,004        2,134,608  

Banco Santander SA(b)

     558,122        2,077,429  

CaixaBank SA

     284,153        1,106,445  

Endesa SA

     126,726        2,753,629  

Ferrovial SA

     15,191        447,100  

Iberdrola SA

     253,070        3,157,776  

Industria de Diseno Textil SA

     102,989        3,457,475  

Naturgy Energy Group SA(b)

     60,598        1,826,968  

Repsol SA

     65,439        1,008,500  

Telefonica SA(b)

     422,860        1,825,261  
     

 

 

 
Total Spain

 

     19,795,191  
Sweden – 1.8%

 

Assa Abloy AB, Class B

     17,689        423,565  

Atlas Copco AB, Class A

     42,462        538,640  

Atlas Copco AB, Class B

     34,494        396,449  

Epiroc AB, Class A(b)

     11,782        233,832  

EQT AB(b)

     12,427        252,386  

Essity AB, Class B(b)

     16,367        467,829  

Evolution AB(a)

     3,058        409,383  

Sandvik AB

     26,352        558,575  

Skandinaviska Enskilda Banken AB, Class A*(b)

     89,473        986,662  

Svenska Handelsbanken AB, Class A(b)

     75,059        650,298  

Swedbank AB, Class A(b)

     84,571        1,387,693  

Telefonaktiebolaget LM Ericsson, Class B(b)

     116,002        677,919  

Telia Co. AB(b)

     381,451        970,038  

Volvo AB, Class B(b)

     44,846        924,854  
     

 

 

 
Total Sweden

 

     8,878,123  
Switzerland – 10.8%

 

ABB Ltd., Registered Shares

     51,862        1,780,867  

Cie Financiere Richemont SA, Class A, Registered Shares

     10,012        1,598,983  

Geberit AG, Registered Shares

     906        504,992  

Givaudan SA, Registered Shares

     175        569,509  

Holcim AG, Registered Shares*

     27,183        1,752,590  

Kuehne & Nagel International AG, Registered Shares

     4,993        1,486,067  

Nestle SA, Registered Shares

     93,570        11,416,247  

Novartis AG, Registered Shares

     125,389        11,496,451  

Partners Group Holding AG

     898        842,216  

Roche Holding AG

     25,255        7,213,937  

Roche Holding AG, Bearer Shares(b)

     3,702      1,114,389  

SGS SA, Registered Shares

     357        785,865  

Sika AG, Registered Shares

     1,932        540,338  

Sonova Holding AG, Registered Shares

     1,189        349,587  

Swiss Life Holding AG, Registered Shares

     1,442        888,988  

Swiss Re AG

     21,120        2,169,450  

Swisscom AG, Registered Shares

     3,265        2,084,339  

UBS Group AG, Registered Shares

     91,895        1,940,402  

Zurich Insurance Group AG

     9,667        4,631,652  
     

 

 

 
Total Switzerland

 

     53,166,869  
United Kingdom – 13.7%

 

Anglo American PLC

     91,537        3,030,985  

Ashtead Group PLC

     5,787        354,762  

AstraZeneca PLC

     34,613        4,806,987  

Aviva PLC

     145,565        727,495  

BAE Systems PLC

     84,916        1,031,675  

Barclays PLC

     598,093        1,078,209  

BP PLC

     754,995        4,768,387  

British American Tobacco PLC

     132,689        4,660,219  

BT Group PLC

     503,549        907,770  

CNH Industrial NV

     26,978        412,688  

Compass Group PLC

     22,500        565,583  

Diageo PLC

     60,355        2,696,981  

HSBC Holdings PLC

     1,366,318        9,286,544  

Imperial Brands PLC

     85,048        1,960,138  

Legal & General Group PLC

     388,500        1,147,582  

Lloyds Banking Group PLC

     2,885,199        1,700,760  

London Stock Exchange Group PLC

     5,746        558,993  

National Grid PLC

     263,921        3,578,155  

Prudential PLC

     42,970        585,495  

Reckitt Benckiser Group PLC

     27,931        2,126,683  

RELX PLC

     55,962        1,811,505  

Shell PLC

     363,346        10,371,148  

SSE PLC

     50,264        1,120,545  

Standard Chartered PLC

     52,050        395,282  

Tesco PLC

     311,328        1,022,790  

Unilever PLC

     86,529        4,482,830  

Vodafone Group PLC

     1,898,561        2,096,296  
     

 

 

 
Total United Kingdom

 

     67,286,487  
United States – 1.6%

 

GSK PLC

     226,944        4,009,844  

Stellantis NV

     201,487        3,663,603  
     

 

 

 
Total United States               7,673,447  

TOTAL COMMON STOCKS

(Cost: $404,646,737)

              486,319,077  
EXCHANGE-TRADED FUND – 0.1%

 

United States – 0.1%

 

WisdomTree International MidCap Dividend Fund(c)

 

  
(Cost: $325,076)      5,896        344,680  

 

See Notes to Financial Statements.

 

WisdomTree Trust      49  


Schedule of Investments (concluded)

WisdomTree International LargeCap Dividend Fund (DOL)

March 31, 2023

 

 

 

Investments    Shares      Value  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 7.3%

 

United States – 7.3%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 4.84%(d)

 

(Cost: $35,830,045)      35,830,045      $ 35,830,045  

TOTAL INVESTMENTS IN SECURITIES – 106.2%

(Cost: $440,801,858)

 

 

     522,493,802  

Other Assets less Liabilities – (6.2)%

        (30,659,394
     

 

 

 
NET ASSETS – 100.0%             $ 491,834,408  

 

* 

Non-income producing security.

 

(a) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(b) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $46,880,996 and the total market value of the collateral held by the Fund was $49,531,340. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $13,701,295.

 

(c) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

(d) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

INVESTMENT IN AFFILIATES     

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate   Value at
3/31/2022
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2023
    Dividend
Income
 

WisdomTree International MidCap Dividend Fund

  $     $ 2,118,550     $ 1,709,700     $ (83,774   $ 19,604     $ 344,680     $ 37,637  

 

FAIR VALUATION SUMMARY     

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

     

Investments in Securities

 

     

Common Stocks

   $ 486,319,077      $      $      $ 486,319,077  

Exchange-Traded Fund

     344,680                      344,680  

Investment of Cash Collateral for Securities Loaned

            35,830,045               35,830,045  

Total Investments in Securities

   $ 486,663,757      $ 35,830,045      $      $ 522,493,802  

 

See Notes to Financial Statements.

 

50   WisdomTree Trust


Schedule of Investments

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.1%      
Australia – 11.3%      

AGL Energy Ltd.

     35,995      $ 194,067  

ALS Ltd.

     14,148        117,119  

Ampol Ltd.

     19,021        388,422  

Ansell Ltd.

     3,624        64,393  

APA Group

     86,428        585,798  

ASX Ltd.(a)

     9,660        420,666  

Aurizon Holdings Ltd.

     94,036        211,615  

Bank of Queensland Ltd.(a)

     31,630        137,485  

Bendigo & Adelaide Bank Ltd.(a)

     28,048        162,867  

BlueScope Steel Ltd.

     13,808        186,345  

Brambles Ltd.

     39,788        357,883  

Brickworks Ltd.(a)

     7,010        106,341  

carsales.com Ltd.

     10,390        153,996  

Challenger Ltd.

     20,749        86,715  

Charter Hall Group

     14,613        107,658  

Cochlear Ltd.

     974        154,402  

Computershare Ltd.

     12,039        174,083  

Dexus

     100,286        504,421  

Downer EDI Ltd.

     30,643        70,394  

Endeavour Group Ltd.(a)

     47,048        213,325  

GPT Group(a)

     80,575        228,812  

Harvey Norman Holdings Ltd.(a)

     103,672        248,575  

IDP Education Ltd.

     3,305        60,451  

IGO Ltd.

     7,123        60,921  

Iluka Resources Ltd.

     16,055        114,195  

Incitec Pivot Ltd.

     131,366        275,385  

Insurance Australia Group Ltd.

     46,530        146,157  

JB Hi-Fi Ltd.

     11,289        321,108  

Medibank Pvt Ltd.

     140,072        315,213  

Metcash Ltd.(a)

     76,254        196,624  

Mineral Resources Ltd.(a)

     2,369        127,867  

Mirvac Group(a)

     183,382        255,466  

New Hope Corp. Ltd.

     82,227        312,806  

NIB Holdings Ltd.(a)

     21,321        100,672  

Nine Entertainment Co. Holdings Ltd.(a)

     112,445        148,361  

Northern Star Resources Ltd.

     25,914        213,651  

Orica Ltd.

     9,469        97,601  

Origin Energy Ltd.

     85,965        477,297  

OZ Minerals Ltd.

     3,235        60,904  

Premier Investments Ltd.

     6,200        108,337  

QBE Insurance Group Ltd.

     31,711        309,869  

Qube Holdings Ltd.(a)

     41,214        79,221  

REA Group Ltd.(a)

     1,764        163,074  

Reece Ltd.(a)

     9,767        113,494  

Scentre Group

     248,129        457,007  

SEEK Ltd.

     8,541        136,830  

Seven Group Holdings Ltd.(a)

     8,293        128,303  

Sonic Healthcare Ltd.

     20,452        477,229  

South32 Ltd.

     600,689        1,758,102  

Steadfast Group Ltd.

     35,695        139,854  

Stockland

     252,023        671,794  

Suncorp Group Ltd.

     37,934        307,670  

TPG Telecom Ltd.(a)

     66,319      216,756  

Treasury Wine Estates Ltd.

     16,848        147,481  

Vicinity Ltd.

     223,693        291,397  

Viva Energy Group Ltd.(b)

     131,087        266,021  

Washington H Soul Pattinson & Co. Ltd.(a)

     8,988        181,795  

Whitehaven Coal Ltd.

     59,812        269,598  

Worley Ltd.

     16,350        157,796  
     

 

 

 
Total Australia               14,541,689  
Austria – 1.7%      

Andritz AG

     4,739        320,763  

BAWAG Group AG*(b)

     6,552        317,909  

Erste Group Bank AG

     23,921        792,663  

EVN AG

     5,254        116,733  

Telekom Austria AG*

     22,102        166,888  

Vienna Insurance Group AG Wiener Versicherung Gruppe

     5,257        141,359  

Voestalpine AG

     7,653        260,081  

Wienerberger AG

     3,033        87,784  
     

 

 

 
Total Austria               2,204,180  
Belgium – 2.6%      

Aedifica SA

     1,333        107,314  

Ageas SA/NV

     18,456        799,254  

Cofinimmo SA

     2,658        235,499  

D’ieteren Group

     685        133,141  

Elia Group SA/NV

     1,052        138,982  

Etablissements Franz Colruyt NV

     5,046        147,581  

Groupe Bruxelles Lambert NV

     5,376        458,499  

Melexis NV

     1,768        204,378  

Proximus SADP

     34,925        337,476  

Solvay SA

     3,576        409,300  

Umicore SA

     4,963        168,286  

Warehouses De Pauw CVA

     5,303        157,403  
     

 

 

 
Total Belgium               3,297,113  
Burkina Faso – 0.2%      

Endeavour Mining PLC

     8,735        215,792  
Denmark – 0.9%      

Chr Hansen Holding A/S

     1,893        143,841  

Novozymes A/S, Class B

     2,654        135,825  

Pandora A/S

     3,550        339,335  

Royal Unibrew A/S

     1,579        137,714  

Topdanmark A/S*

     8,135        435,192  
     

 

 

 
Total Denmark               1,191,907  
Egypt – 0.1%      

Energean PLC

     4,990        80,332  
Finland – 1.8%      

Elisa Oyj

     9,527        575,080  

Huhtamaki Oyj

     2,470        91,777  

Kesko Oyj, Class A(a)

     6,194        134,320  

Kesko Oyj, Class B

     12,052        259,325  

Kojamo Oyj

     6,149        72,484  

Metsa Board Oyj, Class B(a)

     13,788        111,151  

Metso Outotec Oyj

     22,010        240,084  

 

See Notes to Financial Statements.

 

WisdomTree Trust      51  


Schedule of Investments (continued)

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Orion Oyj, Class B

     3,178      $ 142,218  

Stora Enso Oyj, Class R

     20,234        263,359  

TietoEVRY Oyj

     5,756        180,854  

Valmet Oyj(a)

     8,055        261,141  
     

 

 

 
Total Finland               2,331,793  
France – 5.6%      

ALD SA(b)

     31,557        370,279  

Arkema SA

     2,090        206,178  

BioMerieux

     974        102,646  

Bouygues SA

     19,445        656,808  

Bureau Veritas SA

     8,142        234,150  

Carrefour SA

     20,137        407,584  

Dassault Aviation SA

     1,305        258,894  

Eiffage SA

     2,622        284,127  

Elis SA

     7,322        140,326  

Eramet SA

     1,385        144,755  

Eurazeo SE

     1,732        123,253  

Gaztransport Et Technigaz SA

     1,499        153,413  

Gecina SA

     3,355        348,284  

Getlink SE

     5,759        95,042  

Imerys SA

     2,759        119,301  

Ipsen SA

     941        103,769  

Klepierre SA(a)

     20,298        459,800  

La Francaise des Jeux SAEM(b)

     9,540        397,902  

Lagardere SA

     3,722        84,110  

Nexans SA

     763        75,850  

Remy Cointreau SA

     566        103,308  

Rexel SA*

     18,570        442,850  

Rothschild & Co.

     4,004        202,499  

Rubis SCA

     6,777        181,642  

Societe BIC SA

     1,361        85,910  

Sodexo SA

     1,982        193,930  

Sopra Steria Group SACA

     479        100,595  

SPIE SA

     4,008        116,439  

Technip Energies NV

     5,628        120,181  

Valeo

     4,466        91,753  

Verallia SA(b)

     3,731        159,304  

Vivendi SE

     43,109        435,573  

Wendel SE

     1,128        119,304  
     

 

 

 
Total France               7,119,759  
Germany – 4.8%      

Aurubis AG

     956        88,347  

Bechtle AG

     1,653        79,002  

Brenntag SE

     3,071        230,885  

Carl Zeiss Meditec AG, Bearer Shares

     701        97,485  

DWS Group GmbH & Co. KGaA(b)

     18,435        567,213  

Encavis AG

     3,874        66,416  

Evonik Industries AG

     23,696        498,414  

Fielmann AG

     3,431        143,066  

Freenet AG

     7,715        200,748  

GEA Group AG

     4,176        190,328  

HeidelbergCement AG

     8,542        624,203  

Hochtief AG

     2,205        184,127  

HUGO BOSS AG

     1,491      107,108  

K & S AG, Registered Shares

     2,260        48,113  

MTU Aero Engines AG

     659        165,103  

Puma SE

     2,724        168,276  

Rheinmetall AG

     751        223,237  

Scout24 SE(b)

     1,313        78,030  

Sixt SE

     1,200        159,838  

Stroeer SE & Co. KGaA

     2,280        120,536  

Suedzucker AG

     9,233        155,283  

Synlab AG

     5,117        53,259  

Talanx AG

     14,008        649,851  

Telefonica Deutschland Holding AG

     211,062        650,548  

United Internet AG, Registered Shares

     4,157        71,675  

Wacker Chemie AG

     3,058        496,361  
     

 

 

 
Total Germany               6,117,452  
Hong Kong – 3.8%      

Bank of East Asia Ltd.(a)

     117,380        149,230  

Champion REIT(a)

     301,000        129,220  

Hang Lung Group Ltd.

     86,000        151,843  

Hang Lung Properties Ltd.

     267,000        499,310  

Hysan Development Co. Ltd.

     70,000        198,855  

New World Development Co. Ltd.

     254,000        681,113  

PCCW Ltd.

     1,227,000        612,722  

Power Assets Holdings Ltd.

     210,000        1,126,249  

Sino Land Co. Ltd.

     590,566        798,962  

Swire Pacific Ltd., Class A

     40,000        307,263  

Swire Pacific Ltd., Class B

     157,500        194,820  
     

 

 

 
Total Hong Kong               4,849,587  
Ireland – 0.5%      

AIB Group PLC

     35,609        144,768  

Glanbia PLC

     6,947        100,836  

Kingspan Group PLC

     1,676        114,789  

Smurfit Kappa Group PLC

     8,314        301,061  
     

 

 

 
Total Ireland               661,454  
Israel – 2.1%      

Alony Hetz Properties & Investments Ltd.

     7,699        59,977  

Amot Investments Ltd.

     30,254        153,175  

Ashtrom Group Ltd.

     5,619        84,270  

Azrieli Group Ltd.

     2,951        168,668  

Bezeq The Israeli Telecommunication Corp. Ltd.

     122,057        165,629  

Elbit Systems Ltd.

     432        73,067  

First International Bank of Israel Ltd.

     4,084        143,481  

ICL Group Ltd.

     144,947        971,372  

Israel Discount Bank Ltd., Class A

     41,837        203,919  

Mizrahi Tefahot Bank Ltd.

     13,354        416,125  

Phoenix Holdings Ltd.

     14,241        140,802  

Strauss Group Ltd.*

     3,500        78,784  
     

 

 

 
Total Israel               2,659,269  
Italy – 4.9%      

A2A SpA(a)

     194,976        311,393  

ACEA SpA

     11,374        155,702  

Amplifon SpA(a)

     2,281        79,153  

 

See Notes to Financial Statements.

 

52   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Banca Generali SpA(a)

     6,992      $ 223,184  

Banca Mediolanum SpA

     36,019        327,072  

Banco BPM SpA(a)

     84,175        329,684  

BPER Banca(a)

     39,677        97,982  

Brembo SpA

     7,343        107,700  

Buzzi Unicem SpA(a)

     4,880        118,550  

Davide Campari-Milano NV

     9,799        119,769  

De’ Longhi SpA

     6,412        146,711  

DiaSorin SpA(a)

     390        41,126  

ERG SpA

     5,852        177,767  

FinecoBank Banca Fineco SpA

     15,682        240,913  

Hera SpA

     63,527        179,587  

Infrastrutture Wireless Italiane SpA(b)

     30,570        402,539  

Italgas SpA(a)

     59,629        364,410  

Leonardo SpA

     9,936        116,801  

Mediobanca Banca di Credito Finanziario SpA

     57,635        580,339  

Moncler SpA

     3,519        242,927  

Poste Italiane SpA(b)

     78,818        805,967  

Prysmian SpA

     4,174        175,498  

Recordati Industria Chimica e Farmaceutica SpA

     5,479        231,916  

Unipol Gruppo SpA

     32,597        167,903  

UnipolSai Assicurazioni SpA(a)

     229,550        580,591  
     

 

 

 
Total Italy               6,325,184  
Japan – 24.7%      

ABC-Mart, Inc.

     1,978        108,791  

Advantest Corp.(a)

     3,400        310,647  

AGC, Inc.

     9,028        334,081  

Air Water, Inc.

     7,000        87,309  

Aisin Corp.(a)

     10,900        298,524  

Alfresa Holdings Corp.(a)

     9,500        121,061  

Amada Co. Ltd.

     14,000        130,228  

Aozora Bank Ltd.(a)

     6,300        113,560  

Asahi Kasei Corp.

     40,100        279,094  

Azbil Corp.(a)

     2,000        54,249  

Bank of Kyoto Ltd.(a)

     1,800        84,529  

Brother Industries Ltd.

     6,400        95,791  

Canon Marketing Japan, Inc.

     5,000        118,341  

Capcom Co. Ltd.

     3,800        135,194  

Casio Computer Co. Ltd.(a)

     7,900        77,047  

Chiba Bank Ltd.

     21,700        139,406  

Chubu Electric Power Co., Inc.

     25,200        264,894  

Coca-Cola Bottlers Japan Holdings, Inc.

     10,200        110,745  

COMSYS Holdings Corp.(a)

     5,200        95,451  

Concordia Financial Group Ltd.(a)

     40,900        149,968  

Cosmo Energy Holdings Co. Ltd.

     5,400        173,860  

CyberAgent, Inc.

     7,700        64,509  

Dai Nippon Printing Co. Ltd.(a)

     6,579        183,148  

Daifuku Co. Ltd.

     5,700        104,629  

Daito Trust Construction Co. Ltd.

     3,520        348,853  

Daiwa Securities Group, Inc.(a)

     76,200        355,550  

Dentsu Group, Inc.

     7,700        269,028  

Disco Corp.

     3,900        448,343  

Dowa Holdings Co. Ltd.

     1,300        41,464  

Ebara Corp.

     2,700      124,359  

Electric Power Development Co. Ltd.(a)

     6,700        107,279  

ENEOS Holdings, Inc.

     179,600        627,770  

Fuji Electric Co. Ltd.

     2,875        112,330  

Fukuoka Financial Group, Inc.(a)

     6,600        126,406  

Hakuhodo DY Holdings, Inc.(a)

     8,800        98,850  

Hamamatsu Photonics KK

     2,500        133,556  

Hankyu Hanshin Holdings, Inc.

     3,900        115,016  

Haseko Corp.

     14,700        169,985  

Hirose Electric Co. Ltd.(a)

     1,675        217,351  

Hitachi Construction Machinery Co. Ltd.

     7,500        173,285  

Hulic Co. Ltd.

     26,000        212,353  

Idemitsu Kosan Co. Ltd.(a)

     13,866        302,137  

IHI Corp.(a)

     5,500        137,200  

Iida Group Holdings Co. Ltd.(a)

     10,100        163,843  

Internet Initiative Japan, Inc.(a)

     3,800        78,461  

Isuzu Motors Ltd.

     28,700        340,501  

Itochu Techno-Solutions Corp.

     5,800        141,851  

J. Front Retailing Co. Ltd.

     8,800        87,412  

Japan Exchange Group, Inc.(a)

     13,900        210,813  

Japan Metropolitan Fund Invest

     352        255,755  

Japan Post Insurance Co. Ltd.

     12,900        200,348  

Kajima Corp.

     18,776        225,442  

Kakaku.com, Inc.(a)

     3,500        47,468  

Kamigumi Co. Ltd.

     6,200        129,506  

Kansai Electric Power Co., Inc.

     34,300        332,717  

Kansai Paint Co. Ltd.

     3,800        51,051  

Kawasaki Heavy Industries Ltd.(a)

     3,600        78,281  

Kawasaki Kisen Kaisha Ltd.(a)

     24,500        556,860  

Kewpie Corp.

     6,900        115,510  

Kikkoman Corp.

     1,600        81,028  

Koei Tecmo Holdings Co. Ltd.(a)

     8,020        143,901  

Konami Group Corp.(a)

     3,200        145,946  

Kose Corp.

     700        82,471  

Kuraray Co. Ltd.

     18,400        168,253  

Kurita Water Industries Ltd.(a)

     2,200        99,842  

Kyushu Railway Co.(a)

     5,300        117,437  

Lawson, Inc.

     3,900        164,393  

Marui Group Co. Ltd.(a)

     5,800        88,161  

MatsukiyoCocokara & Co.

     2,000        105,342  

Mazda Motor Corp.

     22,600        208,017  

Mebuki Financial Group, Inc.(a)

     43,000        104,681  

Medipal Holdings Corp.

     5,700        77,262  

MEIJI Holdings Co. Ltd.(a)

     14,200        336,622  

MISUMI Group, Inc.

     2,600        64,468  

Mitsubishi Chemical Group Corp.

     59,100        348,898  

Mitsubishi Gas Chemical Co., Inc.

     8,200        120,945  

Mitsui Chemicals, Inc.(a)

     8,100        207,536  

Mitsui OSK Lines Ltd.(a)

     47,100        1,171,395  

Nabtesco Corp.

     3,000        73,033  

NEC Corp.

     5,400        206,928  

NGK Insulators Ltd.(a)

     16,900        222,472  

NGK Spark Plug Co. Ltd.(a)

     14,700        302,196  

NH Foods Ltd.(a)

     2,300        66,275  

 

See Notes to Financial Statements.

 

WisdomTree Trust      53  


Schedule of Investments (continued)

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Nikon Corp.(a)

     9,700      $ 98,756  

Nippon Express Holdings, Inc.

     2,300        137,734  

Nippon Sanso Holdings Corp.

     6,800        121,704  

Nippon Shinyaku Co. Ltd.

     1,800        78,849  

Nippon Yusen KK(a)

     67,800        1,573,628  

Nissan Chemical Corp.(a)

     4,300        193,531  

Nisshin Seifun Group, Inc.(a)

     7,400        86,238  

Nissin Foods Holdings Co. Ltd.

     1,900        173,169  

Nitto Denko Corp.

     5,800        372,605  

NOF Corp.(a)

     2,800        129,807  

Nomura Holdings, Inc.

     118,000        451,909  

Nomura Real Estate Holdings, Inc.

     9,368        206,238  

NSK Ltd.(a)

     25,200        143,145  

Obayashi Corp.

     32,000        243,565  

Oji Holdings Corp.

     25,862        101,823  

Open House Group Co. Ltd.

     2,800        104,140  

Oracle Corp.

     2,300        164,693  

Osaka Gas Co. Ltd.

     9,700        158,958  

Otsuka Corp.

     4,200        147,847  

Persol Holdings Co. Ltd.

     3,600        71,789  

Pola Orbis Holdings, Inc.

     7,000        90,570  

Resona Holdings, Inc.

     72,500        348,364  

Resonac Holdings Corp.

     4,500        73,574  

Ricoh Co. Ltd.

     16,200        120,627  

Rohm Co. Ltd.

     1,900        156,608  

Ryohin Keikaku Co. Ltd.

     7,900        89,275  

Sankyo Co. Ltd.

     2,400        99,722  

Santen Pharmaceutical Co. Ltd.(a)

     16,700        141,791  

SBI Holdings, Inc.(a)

     20,800        410,092  

SCREEN Holdings Co. Ltd.(a)

     1,800        157,563  

SCSK Corp.

     8,000        116,312  

Sega Sammy Holdings, Inc.

     7,500        141,615  

Seiko Epson Corp.(a)

     10,200        144,160  

Sekisui Chemical Co. Ltd.

     11,000        155,053  

Seven Bank Ltd.(a)

     76,300        151,924  

SG Holdings Co. Ltd.

     16,600        244,466  

Sharp Corp.(a)

     24,600        172,453  

Shimadzu Corp.

     3,500        108,874  

Shimamura Co. Ltd.

     1,200        121,722  

Shimizu Corp.(a)

     18,000        101,435  

SHO-BOND Holdings Co. Ltd.

     3,100        127,643  

Sohgo Security Services Co. Ltd.

     3,100        83,038  

Sojitz Corp.(a)

     17,580        364,968  

Square Enix Holdings Co. Ltd.

     3,700        176,813  

SUMCO Corp.

     10,900        162,243  

Sumitomo Chemical Co. Ltd.(a)

     74,100        247,761  

Sumitomo Electric Industries Ltd.

     22,912        292,146  

Sumitomo Forestry Co. Ltd.

     15,000        295,289  

Sumitomo Heavy Industries Ltd.

     8,100        197,190  

Sumitomo Metal Mining Co. Ltd.

     15,700        595,607  

Sumitomo Mitsui Trust Holdings, Inc.

     13,900        474,265  

Sumitomo Pharma Co. Ltd.(a)

     11,490        69,929  

Sumitomo Realty & Development Co. Ltd.

     6,800        152,360  

Sumitomo Rubber Industries Ltd.

     8,100        72,790  

Sundrug Co. Ltd.

     3,000      81,937  

Suntory Beverage & Food Ltd.

     5,100        189,109  

T&D Holdings, Inc.

     21,851        269,423  

Taisei Corp.(a)

     5,775        177,689  

Taiyo Yuden Co. Ltd.(a)

     2,200        73,394  

TechnoPro Holdings, Inc.

     2,900        79,424  

THK Co. Ltd.

     4,500        103,295  

TIS, Inc.

     4,300        112,758  

Tokyo Gas Co. Ltd.

     14,900        279,438  

Tokyo Tatemono Co. Ltd.

     9,200        111,639  

Tokyu Corp.(a)

     6,200        82,083  

Tokyu Fudosan Holdings Corp.(a)

     22,800        108,784  

Toray Industries, Inc.(a)

     35,200        200,055  

Tosoh Corp.

     24,000        324,051  

TOTO Ltd.(a)

     3,400        112,916  

Toyo Seikan Group Holdings Ltd.(a)

     12,100        166,012  

Toyo Suisan Kaisha Ltd.

     1,600        66,722  

Toyota Boshoku Corp.(a)

     6,700        107,581  

Toyota Tsusho Corp.

     11,400        481,389  

Trend Micro, Inc.

     4,830        234,804  

Tsuruha Holdings, Inc.

     900        59,847  

USS Co. Ltd.

     11,700        201,754  

West Japan Railway Co.

     4,400        180,410  

Yakult Honsha Co. Ltd.

     2,400        173,657  

Yamada Holdings Co. Ltd.(a)

     31,900        109,297  

Yamaha Motor Co. Ltd.

     12,460        323,928  

Yamato Holdings Co. Ltd.

     6,900        117,635  

Yaskawa Electric Corp.(a)

     4,300        186,423  

Yokogawa Electric Corp.

     4,200        67,849  

Yokohama Rubber Co. Ltd.

     4,600        96,673  

ZOZO, Inc.(a)

     6,300        142,719  
     

 

 

 
Total Japan               31,720,557  
Netherlands – 4.3%      

Aalberts NV

     2,370        111,776  

Aegon NV

     80,869        347,135  

Arcadis NV

     2,378        97,556  

ASM International NV

     410        165,661  

ASR Nederland NV

     10,928        436,204  

BE Semiconductor Industries NV

     4,314        375,424  

CTP NV(b)

     13,490        174,702  

Euronext NV(b)

     2,916        223,604  

IMCD NV(a)

     719        117,486  

Koninklijke KPN NV

     265,059        937,641  

Koninklijke Vopak NV

     6,991        246,774  

OCI NV(a)

     28,544        969,424  

Randstad NV(a)

     15,627        926,996  

SBM Offshore NV

     11,140        165,509  

Signify NV(b)

     5,166        171,970  
     

 

 

 
Total Netherlands               5,467,862  
Norway – 2.5%      

Aker ASA, Class A

     2,097        134,553  

Gjensidige Forsikring ASA(a)

     25,001        408,921  

Kongsberg Gruppen ASA

     1,945        78,520  

 

See Notes to Financial Statements.

 

54   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Leroy Seafood Group ASA

     28,475      $ 147,635  

Mowi ASA

     17,170        317,067  

Norsk Hydro ASA

     88,775        659,470  

Orkla ASA

     34,079        241,639  

Salmar ASA

     6,595        287,021  

SpareBank 1 SR-Bank ASA

     11,128        128,566  

Storebrand ASA

     19,238        147,539  

Wallenius Wilhelmsen ASA

     11,836        85,551  

Yara International ASA

     13,357        578,887  
     

 

 

 
Total Norway               3,215,369  
Portugal – 0.4%      

Galp Energia SGPS SA

     33,937        385,669  

Navigator Co. SA

     46,500        166,514  
     

 

 

 
Total Portugal               552,183  
Singapore – 5.3%      

BOC Aviation Ltd.(b)

     24,000        185,428  

CapitaLand Ascendas REIT

     319,500        687,277  

CapitaLand Ascott Trust

     178,400        133,510  

CapitaLand Integrated Commercial Trust

     476,800        710,063  

City Developments Ltd.

     34,100        189,024  

ComfortDelGro Corp. Ltd.

     112,500        99,846  

Frasers Centrepoint Trust

     96,700        166,555  

Frasers Logistics & Commercial Trust

     355,000        349,780  

Genting Singapore Ltd.

     266,800        224,750  

Jardine Cycle & Carriage Ltd.(a)

     22,111        520,200  

Keppel Corp. Ltd.

     82,800        350,618  

Keppel REIT

     325,400        216,599  

Mapletree Industrial Trust

     233,300        415,871  

Mapletree Logistics Trust(a)

     236,100        303,660  

Mapletree Pan Asia Commercial Trust

     249,100        337,242  

NetLink NBN Trust

     232,500        150,389  

Olam Group Ltd.

     211,300        249,514  

Sembcorp Industries Ltd.

     61,100        201,285  

Singapore Exchange Ltd.

     53,400        377,541  

Singapore Technologies Engineering Ltd.

     142,100        391,174  

Suntec Real Estate Investment Trust

     232,700        250,281  

UOL Group Ltd.

     16,200        84,439  

Venture Corp. Ltd.

     10,500        139,547  
     

 

 

 
Total Singapore               6,734,593  
Spain – 4.0%      

Acciona SA

     1,632        327,489  

Acerinox SA

     20,804        214,136  

ACS Actividades de Construccion y Servicios SA

     28,580        911,339  

Banco de Sabadell SA(a)

     190,201        204,330  

Bankinter SA(a)

     45,916        260,701  

Cia de Distribucion Integral Logista Holdings SA

     11,865        296,487  

Cie Automotive SA

     3,429        98,724  

Enagas SA(a)

     23,641        454,620  

Fluidra SA

     8,075        142,036  

Grupo Catalana Occidente SA

     5,484        173,083  

Inmobiliaria Colonial Socimi SA

     24,274        153,620  

Laboratorios Farmaceuticos Rovi SA

     1,873        78,304  

Mapfre SA

     210,276        424,468  

Merlin Properties Socimi SA

     69,370      607,458  

Red Electrica Corp. SA

     29,045        511,206  

Unicaja Banco SA(a)(b)

     69,713        74,831  

Viscofan SA

     2,099        150,510  
     

 

 

 
Total Spain               5,083,342  
Sweden – 4.0%      

Alfa Laval AB

     8,346        297,555  

Avanza Bank Holding AB(a)

     6,451        151,173  

Axfood AB

     7,867        192,094  

Billerud AB

     9,365        96,228  

Boliden AB

     10,886        428,110  

Epiroc AB, Class B

     8,103        137,882  

Fabege AB(a)

     15,484        118,890  

Hexpol AB

     16,041        198,781  

Holmen AB, Class B(a)

     1,921        73,953  

Husqvarna AB, Class B(a)

     22,067        191,185  

Industrivarden AB, Class A

     6,152        165,939  

Industrivarden AB, Class C(a)

     4,038        108,723  

Indutrade AB(a)

     3,976        84,393  

Investment AB Latour, Class B(a)

     9,832        199,683  

Lifco AB, Class B

     5,149        110,731  

Nordnet AB publ

     9,819        161,684  

Saab AB, Class B

     1,522        92,616  

Sagax AB, Class B(a)

     2,928        67,429  

Securitas AB, Class B(a)

     20,099        178,864  

SKF AB, Class B

     15,359        302,157  

SSAB AB, Class B

     86,514        616,721  

Svenska Cellulosa AB SCA, Class B(a)

     8,731        114,889  

Sweco AB, Class B

     8,974        113,802  

Tele2 AB, Class B

     41,448        412,699  

Thule Group AB(b)

     4,371        107,362  

Trelleborg AB, Class B(a)

     4,787        136,138  

Volvo AB, Class A

     13,574        291,912  
     

 

 

 
Total Sweden               5,151,593  
Switzerland – 4.8%      

Allreal Holding AG, Registered Shares

     878        148,200  

Baloise Holding AG, Registered Shares

     3,296        513,765  

Banque Cantonale Vaudoise, Registered Shares(a)

     4,601        434,641  

BKW AG

     1,151        181,177  

Cembra Money Bank AG

     1,425        112,075  

Clariant AG, Registered Shares*

     5,652        93,483  

Coca-Cola HBC AG*

     9,613        263,037  

DKSH Holding AG

     2,411        194,374  

EFG International AG*

     17,472        171,172  

Galenica AG(b)

     2,103        178,060  

Georg Fischer AG, Registered Shares

     1,614        125,262  

Helvetia Holding AG, Registered Shares

     3,893        542,902  

Julius Baer Group Ltd.

     10,235        698,205  

Logitech International SA, Registered Shares

     3,029        176,060  

OC Oerlikon Corp. AG, Registered Shares

     15,546        87,723  

PSP Swiss Property AG, Registered Shares

     2,051        233,489  

Schindler Holding AG, Participation Certificate

     957        211,712  

Schindler Holding AG, Registered Shares

     1,503        317,529  

 

See Notes to Financial Statements.

 

WisdomTree Trust      55  


Schedule of Investments (continued)

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2023

 

 

 

Investments    Shares      Value  

SFS Group AG

     900      $ 116,644  

SIG Group AG*(a)

     7,514        193,453  

Stadler Rail AG(a)

     2,763        107,973  

Swatch Group AG, Bearer Shares

     638        218,871  

Swatch Group AG, Registered Shares

     2,676        169,310  

Swiss Prime Site AG, Registered Shares

     2,864        238,419  

Temenos AG, Registered Shares

     1,070        74,117  

VAT Group AG(a)(b)

     658        236,392  

Vontobel Holding AG, Registered Shares

     2,627        170,523  
     

 

 

 
Total Switzerland               6,208,568  
United Kingdom – 8.8%      

Airtel Africa PLC(b)

     168,884        222,390  

Associated British Foods PLC

     17,809        427,187  

Auto Trader Group PLC(b)

     13,889        105,820  

Balfour Beatty PLC

     26,981        124,235  

Beazley PLC

     16,797        124,093  

Bellway PLC

     6,239        170,253  

Big Yellow Group PLC

     8,507        122,961  

British Land Co. PLC

     45,944        220,299  

Britvic PLC

     13,422        147,867  

Bunzl PLC

     8,464        319,925  

Burberry Group PLC

     8,045        257,236  

Centrica PLC

     85,348        111,913  

Computacenter PLC

     3,775        99,793  

ConvaTec Group PLC(b)

     37,601        106,280  

Croda International PLC

     1,987        159,645  

DCC PLC

     2,785        162,465  

Derwent London PLC

     3,119        90,936  

Dr. Martens PLC(a)

     17,649        31,053  

Drax Group PLC

     21,601        162,254  

DS Smith PLC

     58,571        227,761  

Fresnillo PLC

     20,889        192,678  

Games Workshop Group PLC

     1,347        160,554  

Halma PLC

     2,297        63,306  

Harbour Energy PLC

     37,887        128,544  

Hargreaves Lansdown PLC

     18,674        184,577  

Howden Joinery Group PLC

     17,641        152,249  

IMI PLC

     4,750        90,094  

Inchcape PLC

     16,858        161,437  

InterContinental Hotels Group PLC

     4,642        304,888  

Intertek Group PLC

     3,493        175,046  

Investec PLC

     31,660        176,000  

ITV PLC

     254,552        260,605  

J. Sainsbury PLC

     134,483        463,427  

Kingfisher PLC

     97,469        314,787  

Land Securities Group PLC

     38,551        296,104  

Mondi PLC

     15,193        240,829  

Next PLC

     4,376        355,592  

OSB Group PLC

     40,113        238,863  

Pearson PLC

     13,273        138,578  

Pennon Group PLC

     8,192        88,527  

Renishaw PLC

     1,394        70,565  

Rentokil Initial PLC

     20,623        150,854  

Rightmove PLC

     12,575      87,537  

Rotork PLC

     16,515        64,282  

RS Group PLC

     9,999        113,000  

Sage Group PLC

     23,713        227,230  

Schroders PLC

     52,377        297,903  

Segro PLC

     31,642        300,314  

Severn Trent PLC

     8,741        311,157  

Smith & Nephew PLC

     25,747        357,187  

Smiths Group PLC

     8,185        173,716  

Spectris PLC

     2,388        108,037  

Spirax-Sarco Engineering PLC

     895        131,190  

St. James’s Place PLC

     24,268        363,375  

Tate & Lyle PLC

     10,393        100,824  

Tritax Big Box REIT PLC

     76,557        132,428  

Unite Group PLC

     15,550        184,481  

United Utilities Group PLC

     25,340        332,115  

Weir Group PLC

     4,102        94,287  

Whitbread PLC

     3,505        129,448  
     

 

 

 
Total United Kingdom               11,310,981  

TOTAL COMMON STOCKS

(Cost: $122,771,827)

              127,040,559  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 10.8%

 

United States – 10.8%      

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(c)

     
(Cost: $13,788,259)      13,788,259        13,788,259  

TOTAL INVESTMENTS IN SECURITIES – 109.9%

(Cost: $136,560,086)

 

 

     140,828,818  

Other Assets less Liabilities – (9.9)%

 

     (12,653,488
     

 

 

 
NET ASSETS – 100.0%

 

   $ 128,175,330  

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $23,398,066 and the total market value of the collateral held by the Fund was $24,797,308. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $11,009,049.

 

(b) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

See Notes to Financial Statements.

 

56   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree International MidCap Dividend Fund (DIM)

March 31, 2023

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

Royal Bank of Canada

    4/4/2023       48,789       USD       45,000       EUR     $     $ (102

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

     

Investments in Securities

  

Common Stocks

   $ 127,040,559      $      $      $ 127,040,559  

Investment of Cash Collateral for Securities Loaned

            13,788,259               13,788,259  

Total Investments in Securities

   $ 127,040,559      $ 13,788,259      $      $ 140,828,818  

Liabilities:

 

     

Financial Derivative Instruments

  

Foreign Currency Contracts1

   $      $ (102    $      $ (102

Total – Net

   $ 127,040,559      $ 13,788,157      $      $ 140,828,716  
1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

WisdomTree Trust      57  


Schedule of Investments

WisdomTree International Multifactor Fund (DWMF)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.2%      
Australia – 9.7%      

ANZ Group Holdings Ltd.

     46,401      $ 712,597  

Aristocrat Leisure Ltd.

     1,672        41,657  

BHP Group Ltd.

     18,475        584,407  

BlueScope Steel Ltd.

     9,643        130,137  

Brambles Ltd.

     37,683        338,949  

Coles Group Ltd.

     18,385        221,887  

Computershare Ltd.

     18,354        265,397  

Insurance Australia Group Ltd.

     59,112        185,678  

Medibank Pvt Ltd.(a)

     57,923        130,348  

National Australia Bank Ltd.(a)

     3,914        72,665  

Pilbara Minerals Ltd.(a)

     13,746        36,273  

Qantas Airways Ltd.*

     25,393        112,586  

QBE Insurance Group Ltd.

     26,624        260,161  

South32 Ltd.

     46,347        135,649  

Suncorp Group Ltd.

     4,452        36,109  

Telstra Group Ltd.

     36,576        103,376  

Westpac Banking Corp.(a)

     30,279        439,251  

Woolworths Group Ltd.

     3,198        81,177  
     

 

 

 
Total Australia               3,888,304  
Austria – 0.4%      

Erste Group Bank AG

     993        32,905  

OMV AG

     2,359        108,309  
     

 

 

 
Total Austria               141,214  
China – 1.3%      

BOC Hong Kong Holdings Ltd.

     42,000        130,816  

SITC International Holdings Co. Ltd.

     18,000        38,660  

Wilmar International Ltd.

     113,300        358,763  
     

 

 

 
Total China               528,239  
Denmark – 0.4%      

AP Moller – Maersk A/S, Class B

     17        30,856  

Novo Nordisk A/S, Class B

     943        149,333  
     

 

 

 
Total Denmark               180,189  
Finland – 2.0%      

Elisa Oyj

     8,054        486,165  

Fortum Oyj*

     2,521        38,660  

Orion Oyj, Class B

     6,574        294,192  
     

 

 

 
Total Finland               819,017  
France – 11.2%      

Bollore SE

     6,856        42,383  

Carrefour SA

     9,378        189,816  

Dassault Aviation SA

     2,173        431,092  

Eiffage SA

     1,474        159,726  

Engie SA

     14,232        225,348  

Ipsen SA

     2,227        245,582  

La Francaise des Jeux SAEM(b)

     7,907        329,792  

Orange SA

     37,331        444,194  

Publicis Groupe SA

     3,317        258,677  

Sanofi

     6,297        685,779  

Sodexo SA

     3,269        319,858  

Thales SA

     1,818        269,314  

TotalEnergies SE(a)

     9,232      545,237  

Vivendi SE

     26,356        266,301  

Wendel SE

     555        58,700  
     

 

 

 
Total France               4,471,799  
Germany – 4.6%      

Bayer AG, Registered Shares

     4,339        276,812  

Bayerische Motoren Werke AG

     2,772        303,995  

Deutsche Lufthansa AG, Registered Shares*

     15,423        171,920  

Deutsche Telekom AG, Registered Shares

     30,756        746,822  

E.ON SE

     24,015        300,048  

Muenchener Rueckversicherungs – Gesellschaft AG in Muenchen, Registered Shares

     103        36,089  
     

 

 

 
Total Germany               1,835,686  
Hong Kong – 4.3%      

CK Asset Holdings Ltd.

     29,000        176,033  

Hongkong Land Holdings Ltd.

     12,500        54,875  

Jardine Matheson Holdings Ltd.

     7,300        354,561  

MTR Corp. Ltd.

     22,500        108,488  

Power Assets Holdings Ltd.

     12,500        67,039  

Sino Land Co. Ltd.

     127,498        172,489  

Sun Hung Kai Properties Ltd.

     32,000        448,410  

Swire Pacific Ltd., Class A

     15,500        119,064  

WH Group Ltd.(b)

     362,000        215,818  
     

 

 

 
Total Hong Kong               1,716,777  
Israel – 1.1%      

Check Point Software Technologies Ltd.*

     3,054        397,020  

ZIM Integrated Shipping Services Ltd.(a)

     1,001        23,604  
     

 

 

 
Total Israel               420,624  
Italy – 1.0%      

Eni SpA(a)

     18,681        261,940  

Poste Italiane SpA(b)

     12,436        127,166  
     

 

 

 
Total Italy               389,106  
Japan – 19.8%      

AGC, Inc.

     7,700        284,939  

Astellas Pharma, Inc.

     1,400        19,808  

Canon, Inc.

     9,000        199,861  

Chiba Bank Ltd.(a)

     5,500        35,333  

Dai Nippon Printing Co. Ltd.(a)

     7,900        219,923  

Dai-ichi Life Holdings, Inc.

     8,000        146,367  

Daito Trust Construction Co. Ltd.

     600        59,464  

Daiwa House Industry Co. Ltd.

     3,300        77,212  

East Japan Railway Co.(a)

     400        22,045  

Hankyu Hanshin Holdings, Inc.

     1,000        29,491  

Hulic Co. Ltd.

     3,000        24,502  

Idemitsu Kosan Co. Ltd.

     3,700        80,622  

Inpex Corp.

     9,500        99,718  

ITOCHU Corp.

     3,400        109,876  

Japan Airlines Co. Ltd.

     2,300        44,621  

Japan Post Holdings Co. Ltd.

     19,300        156,108  

Japan Post Insurance Co. Ltd.

     8,800        136,672  

Japan Tobacco, Inc.

     3,800        79,889  

Kajima Corp.

     14,000        168,097  

 

See Notes to Financial Statements.

 

58   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International Multifactor Fund (DWMF)

March 31, 2023

 

 

 

Investments    Shares      Value  

KDDI Corp.

     2,600      $ 79,959  

Kintetsu Group Holdings Co. Ltd.(a)

     1,400        44,864  

Kirin Holdings Co. Ltd.

     2,500        39,372  

Komatsu Ltd.

     1,600        39,396  

Marubeni Corp.

     2,900        39,124  

Mazda Motor Corp.

     4,300        39,579  

McDonald’s Holdings Co. Japan Ltd.(a)

     3,600        149,313  

MEIJI Holdings Co. Ltd.

     1,600        37,929  

Mitsubishi Corp.

     1,400        49,977  

Mitsubishi Heavy Industries Ltd.(a)

     3,100        113,574  

Mitsui Fudosan Co. Ltd.

     8,500        158,645  

Mitsui OSK Lines Ltd.(a)

     1,500        37,306  

Mizuho Financial Group, Inc.

     11,600        163,685  

MS&AD Insurance Group Holdings, Inc.

     7,800        240,640  

NGK Insulators Ltd.

     3,200        42,125  

Nippon Express Holdings, Inc.

     800        47,907  

Nippon Steel Corp.

     1,800        42,197  

Nippon Telegraph & Telephone Corp.

     3,500        104,193  

Nippon Yusen KK(a)

     4,100        95,160  

Nissin Foods Holdings Co. Ltd.

     900        82,027  

Nomura Real Estate Holdings, Inc.

     900        19,814  

Obayashi Corp.

     28,100        213,880  

Oji Holdings Corp.

     106,600        419,704  

Ono Pharmaceutical Co. Ltd.

     4,100        85,148  

Osaka Gas Co. Ltd.

     9,400        154,042  

Otsuka Holdings Co. Ltd.

     3,100        97,898  

Pan Pacific International Holdings Corp.

     2,300        44,224  

SBI Holdings, Inc.(a)

     2,200        43,375  

SCSK Corp.

     2,100        30,532  

Secom Co. Ltd.

     3,200        196,294  

Seiko Epson Corp.(a)

     1,500        21,200  

Sekisui Chemical Co. Ltd.

     8,100        114,175  

Sekisui House Ltd.

     7,100        143,931  

SG Holdings Co. Ltd.

     10,200        150,214  

Shionogi & Co. Ltd.

     1,500        67,364  

SoftBank Corp.

     2,000        22,977  

Square Enix Holdings Co. Ltd.

     900        43,009  

Subaru Corp.

     2,500        39,719  

Sumitomo Corp.

     3,100        54,528  

Sumitomo Mitsui Financial Group, Inc.(a)

     1,200        47,769  

Suntory Beverage & Food Ltd.

     600        22,248  

Taisei Corp.

     1,300        39,999  

Takeda Pharmaceutical Co. Ltd.

     3,900        127,470  

TIS, Inc.

     4,000        104,892  

Tobu Railway Co. Ltd.(a)

     2,100        50,019  

Tokio Marine Holdings, Inc.

     8,300        158,841  

Tokyo Gas Co. Ltd.

     3,500        65,640  

Tokyu Corp.(a)

     28,400        375,992  

Toshiba Corp.(a)

     21,300        711,387  

Tosoh Corp.

     1,600        21,603  

USS Co. Ltd.

     7,100        122,432  

Yakult Honsha Co. Ltd.

     6,000        434,142  

Yamato Holdings Co. Ltd.(a)

     2,600        44,326  
     

 

 

 
Total Japan               7,930,308  
Luxembourg – 0.1%      

ArcelorMittal SA

     1,179      35,699  
Netherlands – 4.2%      

Heineken Holding NV

     3,193        293,307  

Koninklijke Ahold Delhaize NV(a)

     12,579        430,357  

Koninklijke KPN NV(a)

     108,225        382,844  

OCI NV

     7,457        253,258  

Randstad NV(a)

     572        33,931  

Wolters Kluwer NV(a)

     2,300        290,739  
     

 

 

 
Total Netherlands               1,684,436  
New Zealand – 0.8%      

Mercury NZ Ltd.

     34,441        135,968  

Spark New Zealand Ltd.

     53,384        169,002  
     

 

 

 
Total New Zealand               304,970  
Norway – 3.2%      

Equinor ASA

     6,206        176,999  

Kongsberg Gruppen ASA

     2,033        82,073  

Mowi ASA

     7,331        135,377  

Orkla ASA

     64,080        454,362  

Telenor ASA

     14,938        175,010  

Yara International ASA

     6,231        270,049  
     

 

 

 
Total Norway               1,293,870  
Portugal – 1.4%      

Jeronimo Martins SGPS SA

     23,884        561,012  
Russia – 0.0%      

Evraz PLC*

     17,300        0  
Singapore – 4.7%      

CapitaLand Ascendas REIT

     91,800        197,471  

City Developments Ltd.

     33,900        187,916  

DBS Group Holdings Ltd.

     12,500        310,255  

Genting Singapore Ltd.

     259,400        218,516  

Jardine Cycle & Carriage Ltd.

     6,700        157,629  

Singapore Airlines Ltd.(a)

     45,300        195,231  

Singapore Exchange Ltd.

     21,800        154,127  

Singapore Technologies Engineering Ltd.

     16,200        44,596  

Singapore Telecommunications Ltd.

     119,600        221,290  

Venture Corp. Ltd.

     14,600        194,037  
     

 

 

 
Total Singapore               1,881,068  
Spain – 5.4%      

Acciona SA(a)

     527        105,752  

Banco Bilbao Vizcaya Argentaria SA(a)

     36,206        258,477  

Corp. ACCIONA Energias Renovables SA

     1,082        42,037  

Enagas SA

     23,115        444,505  

Endesa SA(a)

     13,112        284,911  

Iberdrola SA

     23,390        291,858  

Industria de Diseno Textil SA

     8,364        280,790  

Naturgy Energy Group SA

     5,956        179,567  

Repsol SA

     17,578        270,900  
     

 

 

 
Total Spain               2,158,797  
Sweden – 2.0%      

Essity AB, Class B(a)

     5,448        155,724  

 

See Notes to Financial Statements.

 

WisdomTree Trust      59  


Schedule of Investments (continued)

WisdomTree International Multifactor Fund (DWMF)

March 31, 2023

 

 

 

Investments    Shares      Value  

Svenska Handelsbanken AB, Class A

     52,592      $ 455,648  

Swedbank AB, Class A(a)

     12,373        203,024  
     

 

 

 
Total Sweden               814,396  
Switzerland – 7.3%      

Baloise Holding AG, Registered Shares

     1,083        168,813  

Banque Cantonale Vaudoise, Registered Shares(a)

     2,102        198,569  

Coca-Cola HBC AG*

     2,143        58,638  

Kuehne & Nagel International AG, Registered Shares

     1,108        329,774  

Novartis AG, Registered Shares

     9,259        848,923  

Roche Holding AG

     1,555        444,176  

Swisscom AG, Registered Shares

     936        597,532  

Zurich Insurance Group AG

     571        273,578  
     

 

 

 
Total Switzerland               2,920,003  
United Kingdom – 13.0%      

BAE Systems PLC

     22,900        278,220  

BP PLC

     54,342        343,212  

British American Tobacco PLC

     9,486        333,161  

CK Hutchison Holdings Ltd.

     25,500        158,198  

Coca-Cola Europacific Partners PLC

     3,498        207,047  

Compass Group PLC

     14,114        354,784  

HSBC Holdings PLC

     52,001        353,439  

Imperial Brands PLC

     14,812        341,379  

J. Sainsbury PLC

     77,166        265,913  

Lloyds Banking Group PLC

     69,081        40,722  

National Grid PLC

     65,682        890,496  

Pearson PLC

     23,133        241,522  

Reckitt Benckiser Group PLC

     4,711        358,698  

Shell PLC

     6,682        190,727  

Standard Chartered PLC

     4,095        31,099  

Tesco PLC

     138,262        454,225  

Unilever PLC

     7,200        373,012  
     

 

 

 
Total United Kingdom               5,215,854  
United States – 1.3%      

GSK PLC

     26,850      474,409  

Stellantis NV

     1,968        35,784  
     

 

 

 
Total United States               510,193  

TOTAL COMMON STOCKS

(Cost: $37,130,157)

              39,701,561  
PREFERRED STOCK – 0.5%      
Germany – 0.5%      
Henkel AG & Co. KGaA
(Cost: $174,933)
     2,408        188,521  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 5.5%

 

United States – 5.5%      

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(c)

     
(Cost: $2,197,452)      2,197,452        2,197,452  

TOTAL INVESTMENTS IN SECURITIES – 105.2%

(Cost: $39,502,542)

 

 

     42,087,534  

Other Assets less Liabilities – (5.2)%

 

     (2,091,684
     

 

 

 
NET ASSETS – 100.0%

 

   $ 39,995,850  

 

* 

Non-income producing security.

 

 

This security is being fair valued using significant unobservable inputs (i.e., Level 3 on the fair value hierarchy) by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust. The aggregate value of Level 3 fair valued securities is $0, which represents 0.0% of net assets.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $4,180,156 and the total market value of the collateral held by the Fund was $4,411,904. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $2,214,452.

 

(b) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

Bank of America NA

    4/5/2023       4,716,903       AUD       3,153,182       USD     $ 6,079     $  

Bank of America NA

    4/5/2023       174,388       NZD       109,048       USD       59        

Bank of America NA

    4/5/2023       3,465,815       USD       5,121,164       AUD       35,790        

Bank of America NA

    4/5/2023       3,469,245       USD       3,258,815       EUR             (71,486

Bank of America NA

    4/5/2023       3,349,670       USD       2,786,677       GBP             (95,988

Bank of America NA

    4/5/2023       2,393,857       USD       323,857,564       JPY             (39,862

Bank of America NA

    5/3/2023       3,395,415       USD       5,074,181       AUD             (6,555

Bank of America NA

    5/3/2023       59,745       USD       408,378       DKK       71        

Bank of America NA

    5/3/2023       100,904       USD       161,360       NZD             (56

Barclays Bank PLC

    4/5/2023       1,416,306       SGD       1,064,702       USD       583        

Barclays Bank PLC

    4/5/2023       217,399       USD       328,665       AUD             (2,733

Barclays Bank PLC

    4/5/2023       105,176       USD       98,615       CHF             (2,782

Barclays Bank PLC

    4/5/2023       217,615       USD       205,899       EUR             (6,096

Barclays Bank PLC

    4/5/2023       210,114       USD       177,451       GBP             (9,300

Barclays Bank PLC

    4/5/2023       150,159       USD       20,477,630       JPY             (3,726

Barclays Bank PLC

    4/5/2023       58,698       USD       622,970       NOK             (788

 

See Notes to Financial Statements.

 

60   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International Multifactor Fund (DWMF)

March 31, 2023

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

Barclays Bank PLC

    4/5/2023       7,276       USD       11,895       NZD     $     $ (166

Barclays Bank PLC

    4/5/2023       35,056       USD       373,740       SEK             (988

Barclays Bank PLC

    4/5/2023       46,506       USD       62,845       SGD             (763

Barclays Bank PLC

    5/4/2023       1,119,344       USD       1,487,645       SGD             (632

Citibank NA

    4/5/2023       38,105       AUD       25,316       USD       206        

Citibank NA

    4/5/2023       11,201       CHF       12,232       USD       30        

Citibank NA

    4/5/2023       25,711       EUR       27,732       USD       203        

Citibank NA

    4/5/2023       24,924       GBP       30,594       USD       224        

Citibank NA

    4/5/2023       3,050,209       GBP       3,773,459       USD             (1,951

Citibank NA

    4/5/2023       2,428,232       JPY       18,485       USD             (237

Citibank NA

    4/5/2023       91,048       NOK       8,666       USD       28        

Citibank NA

    4/5/2023       2,618       NZD       1,621       USD       17        

Citibank NA

    4/5/2023       52,745       SEK       5,078       USD       9        

Citibank NA

    4/5/2023       11,575       SGD       8,688       USD       18        

Citibank NA

    4/5/2023       741,393       USD       996,758       SGD             (8,326

Citibank NA

    5/4/2023       2,056,666       USD       1,661,481       GBP       1,052        

Goldman Sachs

    4/5/2023       296,419       AUD       196,716       USD       1,818        

Goldman Sachs

    4/5/2023       464,106       AUD       308,000       USD       2,847        

Goldman Sachs

    4/5/2023       87,156       CHF       95,047       USD       367        

Goldman Sachs

    4/5/2023       201,333       EUR       215,485       USD       3,265        

Goldman Sachs

    4/5/2023       196,354       GBP       237,731       USD       5,055        

Goldman Sachs

    4/5/2023       19,230,093       JPY       143,633       USD       877        

Goldman Sachs

    4/5/2023       710,872       NOK       67,341       USD       538        

Goldman Sachs

    4/5/2023       20,411       NZD       12,599       USD       171        

Goldman Sachs

    4/5/2023       418,445       SEK       39,455       USD       900        

Goldman Sachs

    4/5/2023       90,939       SGD       67,509       USD       891        

Goldman Sachs

    4/5/2023       482,000       USD       398,121       GBP             (10,267

Goldman Sachs

    4/5/2023       353,000       USD       475,588       SGD             (4,717

HSBC Holdings PLC

    4/5/2023       935,765       USD       9,736,921       NOK       6,014        

HSBC Holdings PLC

    4/5/2023       558,873       USD       5,848,428       SEK             (5,159

Morgan Stanley & Co. International

    4/5/2023       1,534,770       CHF       1,674,631       USD       5,557        

Morgan Stanley & Co. International

    4/5/2023       3,166,311       EUR       3,443,643       USD             (3,417

Morgan Stanley & Co. International

    4/5/2023       317,169,488       JPY       2,381,898       USD       1,561        

Morgan Stanley & Co. International

    4/5/2023       9,618,146       NOK       918,456       USD             (47

Morgan Stanley & Co. International

    4/5/2023       5,697,522       SEK       549,396       USD       82        

Morgan Stanley & Co. International

    4/5/2023       1,676,734       USD       1,566,378       CHF             (38,056

Morgan Stanley & Co. International

    5/4/2023       1,853,889       USD       1,693,771       CHF             (6,149

Morgan Stanley & Co. International

    5/4/2023       4,141,027       USD       3,801,315       EUR       4,136        

Morgan Stanley & Co. International

    5/4/2023       1,078,803       USD       11,282,234       NOK       34        

Morgan Stanley & Co. International

    5/4/2023       269,519       USD       2,790,440       SEK             (42

Morgan Stanley & Co. International

    5/8/2023       2,282,968       USD       302,551,407       JPY             (1,478

UBS AG

    4/5/2023       115,992       USD       186,195       NZD             (502
                                            $ 78,482     $ (322,269

 

See Notes to Financial Statements.

 

WisdomTree Trust      61  


Schedule of Investments (concluded)

WisdomTree International Multifactor Fund (DWMF)

March 31, 2023

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

           

Investments in Securities

           

Common Stocks

           

Russia

   $      $      $ 0 *     $ 0  

Other

     39,701,561                      39,701,561  

Preferred Stock

     188,521                      188,521  

Investment of Cash Collateral for Securities Loaned

            2,197,452               2,197,452  

Total Investments in Securities

   $ 39,890,082      $ 2,197,452      $ 0      $ 42,087,534  

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ 78,482      $      $ 78,482  

Liabilities:

           

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ (322,269    $      $ (322,269

Total – Net

   $ 39,890,082      $ 1,953,665      $ 0      $ 41,843,747  
* 

Fair valuations using significant unobservable inputs were determined by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust.

 

1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

62   WisdomTree Trust


Schedule of Investments

WisdomTree International Quality Dividend Growth Fund (IQDG)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.6%      
Australia – 5.3%      

Altium Ltd.

     12,913      $ 329,334  

ARB Corp. Ltd.(a)

     15,354        325,262  

Aristocrat Leisure Ltd.

     65,442        1,630,468  

AUB Group Ltd.

     17,761        303,453  

Breville Group Ltd.(a)

     13,686        175,074  

Cochlear Ltd.

     6,352        1,006,939  

Coles Group Ltd.

     299,376        3,613,139  

Computershare Ltd.

     90,182        1,304,023  

CSL Ltd.

     33,884        6,542,627  

Goodman Group

     233,727        2,941,362  

IDP Education Ltd.(a)

     20,755        379,627  

Netwealth Group Ltd.

     33,774        305,824  

Northern Star Resources Ltd.

     191,483        1,578,706  

OZ Minerals Ltd.

     24,690        464,831  

Pinnacle Investment Management Group Ltd.(a)

     62,195        326,993  

REA Group Ltd.(a)

     12,891        1,191,716  

Seven Group Holdings Ltd.(a)

     63,510        982,578  

Technology One Ltd.

     35,051        341,333  

Washington H Soul Pattinson & Co. Ltd.(a)

     63,733        1,289,093  

Wesfarmers Ltd.

     306,475        10,314,400  

WiseTech Global Ltd.

     4,648        202,781  
     

 

 

 
Total Australia               35,549,563  
Austria – 0.4%      

Oesterreichische Post AG

     28,740        1,063,197  

Verbund AG

     14,449        1,255,849  
     

 

 

 
Total Austria               2,319,046  
Belgium – 0.6%      

Etablissements Franz Colruyt NV(a)

     33,979        993,792  

UCB SA

     18,130        1,623,848  

VGP NV(a)

     14,173        1,265,737  
     

 

 

 
Total Belgium               3,883,377  
China – 0.5%      

Prosus NV*

     43,433        3,394,689  
Denmark – 4.4%      

Alm Brand A/S

     298,389        557,911  

Chr Hansen Holding A/S

     13,790        1,047,843  

Coloplast A/S, Class B

     24,075        3,166,437  

Novo Nordisk A/S, Class B

     132,366        20,961,417  

Pandora A/S

     25,338        2,421,994  

Royal Unibrew A/S

     11,144        971,934  

SimCorp A/S

     5,703        431,517  
     

 

 

 
Total Denmark               29,559,053  
Finland – 2.1%      

Kone Oyj, Class B

     132,728        6,921,712  

Neste Oyj

     85,734        4,231,609  

Terveystalo Oyj(a)(b)

     34,768        265,171  

Valmet Oyj(a)

     70,763        2,294,113  
     

 

 

 
Total Finland               13,712,605  
France – 14.5%      

BioMerieux

     56      5,902  

Bollore SE(a)

     224,581        1,388,337  

Capgemini SE

     14,915        2,766,902  

Carrefour SA

     138,635        2,806,050  

Gaztransport Et Technigaz SA

     7,545        772,182  

Hermes International

     3,945        7,989,188  

Kering SA

     20,125        13,118,883  

L’Oreal SA

     44,071        19,691,034  

La Francaise des Jeux SAEM(b)

     45,630        1,903,173  

LVMH Moet Hennessy Louis Vuitton SE

     45,205        41,470,990  

Sartorius Stedim Biotech

     2,009        615,515  

Teleperformance

     4,356        1,049,212  

Verallia SA(b)

     28,283        1,207,613  

Vivendi SE

     205,273        2,074,075  
     

 

 

 
Total France               96,859,056  
Germany – 5.0%      

adidas AG

     41,627        7,361,831  

AIXTRON SE

     8,375        284,162  

Bechtle AG

     12,232        584,603  

Carl Zeiss Meditec AG, Bearer Shares

     3,822        531,509  

Fielmann AG

     24,835        1,035,569  

Nemetschek SE

     5,844        401,778  

Puma SE

     16,523        1,020,717  

Rheinmetall AG

     6,201        1,843,264  

SAP SE

     152,403        19,217,009  

Stroeer SE & Co. KGaA

     17,599        930,400  
     

 

 

 
Total Germany               33,210,842  
Hong Kong – 3.5%      

CLP Holdings Ltd.

     973,000        7,027,955  

Hong Kong Exchanges & Clearing Ltd.

     276,700        12,273,574  

Techtronic Industries Co. Ltd.

     338,500        3,658,842  
     

 

 

 
Total Hong Kong               22,960,371  
Indonesia – 0.1%      

Nickel Industries Ltd.

     1,206,886        727,481  
Ireland – 0.2%      

Kerry Group PLC, Class A

     10,554        1,053,073  
Israel – 0.2%      

Matrix IT Ltd.

     30,728        539,009  

Maytronics Ltd.

     27,137        287,374  

Strauss Group Ltd.*

     22,785        512,886  
     

 

 

 
Total Israel               1,339,269  
Italy – 2.6%      

Amplifon SpA(a)

     12,317        427,415  

Azimut Holding SpA(a)

     68,072        1,456,949  

Banca Generali SpA(a)

     46,760        1,492,574  

Banca Mediolanum SpA

     259,477        2,356,193  

Davide Campari-Milano NV

     51,972        635,231  

De’ Longhi SpA

     47,295        1,082,140  

Ferrari NV

     8,554        2,316,868  

FinecoBank Banca Fineco SpA

     103,602        1,591,576  

Italgas SpA(a)

     271,541        1,659,463  

 

See Notes to Financial Statements.

 

WisdomTree Trust      63  


Schedule of Investments (continued)

WisdomTree International Quality Dividend Growth Fund (IQDG)

March 31, 2023

 

 

 

Investments    Shares      Value  

Moncler SpA

     21,610      $ 1,491,804  

RAI Way SpA(b)

     195,941        1,179,356  

Recordati Industria Chimica e Farmaceutica SpA

     32,310        1,367,620  

Reply SpA

     1,523        191,114  

Technogym SpA(a)(b)

     39,298        349,888  
     

 

 

 
Total Italy               17,598,191  
Japan – 7.9%      

Anritsu Corp.

     33,000        302,750  

Asahi Holdings, Inc.(a)

     35,300        536,303  

Astellas Pharma, Inc.

     280,800        3,972,849  

BayCurrent Consulting, Inc.

     8,300        339,883  

Benefit One, Inc.(a)

     14,200        200,159  

BIPROGY, Inc.(a)

     28,000        683,748  

Capcom Co. Ltd.(a)

     31,900        1,134,920  

Create SD Holdings Co. Ltd.

     7,000        176,723  

CyberAgent, Inc.(a)

     40,100        335,949  

Daifuku Co. Ltd.

     33,500        614,926  

Daito Trust Construction Co. Ltd.

     16,200        1,605,515  

Daiwabo Holdings Co. Ltd.

     33,600        551,122  

eRex Co. Ltd.(a)

     1,700        23,388  

Fancl Corp.

     9,600        175,496  

Fujimi, Inc.(a)

     6,700        367,496  

Fujitsu Ltd.

     18,000        2,412,127  

Hoya Corp.

     15,400        1,684,755  

Information Services International-Dentsu Ltd.

     5,600        218,799  

Internet Initiative Japan, Inc.(a)

     9,900        204,412  

Japan Material Co. Ltd.(a)

     7,600        134,652  

Kakaku.com, Inc.(a)

     29,800        404,155  

Kao Corp.

     76,400        2,966,104  

Keyence Corp.

     6,300        3,050,830  

Koei Tecmo Holdings Co. Ltd.(a)

     50,500        906,109  

Kose Corp.

     3,100        365,227  

M3, Inc.

     15,400        381,963  

Meitec Corp.

     30,300        538,201  

MIRAIT ONE Corp.(a)

     35,000        433,654  

MonotaRO Co. Ltd.(a)

     28,100        349,851  

Morinaga & Co. Ltd.

     7,000        197,498  

Murata Manufacturing Co. Ltd.

     89,800        5,424,840  

NEC Networks & System Integration Corp.

     34,500        418,645  

NET One Systems Co. Ltd.

     11,300        268,724  

Nexon Co. Ltd.

     31,200        739,620  

Nifco, Inc.(a)

     15,200        428,282  

Nihon M&A Center Holdings, Inc.

     31,300        231,416  

Nippon Gas Co. Ltd.(a)

     31,100        449,594  

Nippon Shinyaku Co. Ltd.

     7,200        315,396  

Nissan Chemical Corp.(a)

     29,100        1,309,708  

Nomura Research Institute Ltd.

     46,400        1,068,570  

NSD Co. Ltd.

     30,800        551,711  

Obic Co. Ltd.(a)

     6,100        957,923  

Open House Group Co. Ltd.(a)

     29,500        1,097,190  

Oracle Corp.

     15,200        1,088,406  

Osaka Gas Co. Ltd.

     79,000        1,294,605  

Persol Holdings Co. Ltd.

     31,000        618,183  

Recruit Holdings Co. Ltd.

     50,500        1,384,965  

Relo Group, Inc.(a)

     10,700      169,235  

Rohto Pharmaceutical Co. Ltd.(a)

     10,200        212,292  

Sega Sammy Holdings, Inc.

     39,400        743,949  

Seria Co. Ltd.(a)

     15,500        305,365  

Shinko Electric Industries Co. Ltd.(a)

     14,400        441,446  

Sugi Holdings Co. Ltd.

     5,100        218,040  

SUMCO Corp.

     79,600        1,184,819  

Taiheiyo Cement Corp.

     33,800        631,607  

Taiyo Yuden Co. Ltd.

     28,300        944,113  

TechnoPro Holdings, Inc.

     12,200        334,127  

Terumo Corp.

     37,900        1,017,767  

TIS, Inc.(a)

     28,600        749,974  

Unicharm Corp.

     35,200        1,439,050  

West Holdings Corp.(a)

     3,300        80,337  

Workman Co. Ltd.(a)

     8,000        336,614  

ZOZO, Inc.

     43,500        985,442  
     

 

 

 
Total Japan               52,711,519  
Netherlands – 5.6%      

ASM International NV

     3,058        1,235,587  

ASML Holding NV

     26,337        17,889,367  

BE Semiconductor Industries NV

     32,316        2,812,288  

Corbion NV

     9,089        298,612  

Koninklijke KPN NV

     1,346,366        4,762,744  

SBM Offshore NV

     88,812        1,319,498  

Universal Music Group NV

     233,025        5,900,127  

Wolters Kluwer NV

     25,329        3,201,800  
     

 

 

 
Total Netherlands               37,420,023  
Norway – 0.6%      

Kongsberg Gruppen ASA

     12,175        491,506  

Leroy Seafood Group ASA

     183,546        951,633  

Salmar ASA

     43,062        1,874,102  

TOMRA Systems ASA

     22,468        377,574  
     

 

 

 
Total Norway               3,694,815  
Portugal – 0.5%      

Corticeira Amorim SGPS SA

     27,559        299,415  

Jeronimo Martins SGPS SA

     131,796        3,095,762  
     

 

 

 
Total Portugal               3,395,177  
Singapore – 1.2%      

BOC Aviation Ltd.(b)

     191,700        1,481,105  

Kenon Holdings Ltd.

     38,255        1,119,819  

Singapore Exchange Ltd.

     275,200        1,945,681  

Singapore Technologies Engineering Ltd.

     1,071,700        2,950,188  

StarHub Ltd.

     601,800        470,740  
     

 

 

 
Total Singapore               7,967,533  
Spain – 4.1%      

Cie Automotive SA

     24,150        695,301  

Industria de Diseno Textil SA

     767,037        25,750,431  

Laboratorios Farmaceuticos Rovi SA

     6,322        264,301  

Viscofan SA

     7,515        538,868  
     

 

 

 
Total Spain               27,248,901  

 

See Notes to Financial Statements.

 

64   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International Quality Dividend Growth Fund (IQDG)

March 31, 2023

 

 

 

Investments    Shares      Value  
Sweden – 6.0%      

AAK AB

     24,709      $ 447,021  

AddTech AB, Class B

     25,913        480,548  

Alfa Laval AB

     60,552        2,158,828  

Assa Abloy AB, Class B

     129,856        3,109,416  

Atlas Copco AB, Class A

     316,428        4,013,958  

Atlas Copco AB, Class B

     199,236        2,289,872  

Avanza Bank Holding AB(a)

     44,036        1,031,939  

Beijer Ref AB(a)

     19,640        344,141  

Bilia AB, Class A

     41,537        512,726  

Elekta AB, Class B(a)

     83,420        636,176  

Epiroc AB, Class A

     88,870        1,763,765  

Epiroc AB, Class B

     48,460        824,603  

Essity AB, Class B(a)

     108,487        3,100,959  

Evolution AB(b)

     20,737        2,776,119  

Husqvarna AB, Class B(a)

     154,960        1,342,547  

Instalco AB(a)

     33,068        159,384  

Investment AB Latour, Class B

     66,561        1,351,818  

Loomis AB

     15,773        539,986  

Nibe Industrier AB, Class B

     64,461        732,289  

Nolato AB, Class B

     54,717        277,291  

Nordnet AB publ

     65,828        1,083,956  

Sagax AB, Class B(a)

     22,522        518,658  

Sandvik AB

     201,224        4,265,280  

Securitas AB, Class B(a)

     141,761        1,261,550  

Telefonaktiebolaget LM Ericsson, Class B(a)

     835,652        4,883,578  
     

 

 

 
Total Sweden               39,906,408  
Switzerland – 17.3%      

ABB Ltd., Registered Shares

     338,083        11,609,286  

Coca-Cola HBC AG*

     64,636        1,768,612  

Geberit AG, Registered Shares

     5,620        3,132,509  

Givaudan SA, Registered Shares

     1,158        3,768,523  

Logitech International SA, Registered Shares

     19,776        1,149,478  

Lonza Group AG, Registered Shares

     2,258        1,352,996  

Nestle SA, Registered Shares

     219,577        26,790,052  

Novartis AG, Registered Shares

     290,270        26,613,776  

Partners Group Holding AG

     5,619        5,269,946  

Roche Holding AG

     57,993        16,565,348  

Roche Holding AG, Bearer Shares

     8,321        2,504,816  

Schindler Holding AG, Participation Certificate

     9,026        1,996,776  

Schindler Holding AG, Registered Shares

     7,578        1,600,957  

SGS SA, Registered Shares

     1,571        3,458,246  

Sika AG, Registered Shares

     11,332        3,169,313  

Sonova Holding AG, Registered Shares

     5,859        1,722,651  

Stadler Rail AG(a)

     18,559        725,255  

Straumann Holding AG, Registered Shares(a)

     4,617        689,101  

Sulzer AG, Registered Shares(a)

     12,279        1,041,003  

Temenos AG, Registered Shares

     7,501        519,581  
     

 

 

 
Total Switzerland               115,448,225  
United Kingdom – 13.2%      

Airtel Africa PLC(b)

     842,965        1,110,033  

AJ Bell PLC

     61,859        264,028  

Ashtead Group PLC

     44,398        2,721,739  

Auto Trader Group PLC(b)

     98,838      753,047  

Burberry Group PLC

     61,873        1,978,364  

Compass Group PLC

     148,484        3,732,447  

Diageo PLC

     273,685        12,229,698  

Drax Group PLC

     104,375        784,006  

Fevertree Drinks PLC

     7,874        125,008  

Fresnillo PLC

     156,140        1,440,222  

Games Workshop Group PLC

     9,429        1,123,878  

Greggs PLC

     17,772        609,564  

Halma PLC

     20,803        573,341  

Hargreaves Lansdown PLC

     142,271        1,406,232  

IMI PLC

     32,569        617,741  

Imperial Brands PLC

     384,420        8,859,893  

Intertek Group PLC

     27,133        1,359,725  

Kainos Group PLC

     15,037        256,948  

RELX PLC

     272,186        8,810,732  

Rentokil Initial PLC

     152,134        1,112,836  

Rightmove PLC

     92,662        645,040  

Rotork PLC

     113,854        443,159  

RS Group PLC

     59,843        676,295  

Sage Group PLC

     163,622        1,567,906  

Smith & Nephew PLC

     153,290        2,126,588  

Spectris PLC

     18,180        822,494  

Spirax-Sarco Engineering PLC

     5,536        811,473  

Spirent Communications PLC

     90,612        194,160  

Tate & Lyle PLC

     75,663        734,021  

Unilever PLC

     569,093        29,483,147  

Victrex PLC

     18,385        362,123  
     

 

 

 
Total United Kingdom               87,735,888  
United States – 3.8%

 

GSK PLC

     1,435,098        25,356,562  

TOTAL COMMON STOCKS

(Cost: $603,813,029)

 

 

     663,051,667  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 3.6%

 

United States – 3.6%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(c)

     
(Cost: $23,845,723)      23,845,723        23,845,723  

TOTAL INVESTMENTS IN SECURITIES – 103.2%

(Cost: $627,658,752)

 

 

     686,897,390  

Other Assets less Liabilities – (3.2)%

 

     (20,981,566
     

 

 

 
NET ASSETS – 100.0%

 

   $ 665,915,824  

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $30,557,656 and the total market value of the collateral held by the Fund was $32,381,262. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $8,535,539.

 

(b) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

See Notes to Financial Statements.

 

WisdomTree Trust      65  


Schedule of Investments (concluded)

WisdomTree International Quality Dividend Growth Fund (IQDG)

March 31, 2023

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

           

Investments in Securities

           

Common Stocks

   $ 663,051,667      $      $      $ 663,051,667  

Investment of Cash Collateral for Securities Loaned

            23,845,723               23,845,723  

Total Investments in Securities

   $ 663,051,667      $ 23,845,723      $      $ 686,897,390  

 

See Notes to Financial Statements.

 

66   WisdomTree Trust


Schedule of Investments

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.5%      
Australia – 13.5%      

Abacus Property Group

     2,840,493      $ 4,946,294  

Accent Group Ltd.

     988,998        1,569,844  

Adbri Ltd.(a)

     1,752,430        1,860,299  

APM Human Services International Ltd.(a)

     435,283        580,146  

ARB Corp. Ltd.(a)

     79,721        1,688,826  

AUB Group Ltd.

     86,606        1,479,692  

Austal Ltd.

     424,486        490,417  

Australian Clinical Labs Ltd.(a)

     1,193,488        2,821,666  

Baby Bunting Group Ltd.(a)

     337,326        451,848  

Bapcor Ltd.

     394,600        1,686,128  

Bega Cheese Ltd.

     312,513        757,686  

Blackmores Ltd.

     10,366        488,206  

Bravura Solutions Ltd.(a)

     930,329        249,235  

Breville Group Ltd.(a)

     84,740        1,084,013  

BWP Trust

     1,370,292        3,469,108  

Cedar Woods Properties Ltd.

     277,757        825,963  

Centuria Capital Group

     1,943,762        1,965,771  

Centuria Industrial REIT(a)

     1,206,599        2,424,360  

Champion Iron Ltd.(a)

     748,764        3,580,602  

Charter Hall Long Wale REIT

     2,377,737        6,672,532  

Codan Ltd.

     383,982        1,399,016  

Collins Foods Ltd.(a)

     135,552        753,524  

Costa Group Holdings Ltd.

     575,875        995,086  

Cromwell Property Group

     7,487,522        2,783,197  

CSR Ltd.

     1,620,980        5,156,845  

Dalrymple Bay Infrastructure Ltd.

     446,440        801,329  

Data#3 Ltd.

     142,629        695,428  

DDH1 Ltd.

     961,360        579,484  

Deterra Royalties Ltd.

     1,900,877        6,110,941  

Dicker Data Ltd.

     276,337        1,515,779  

Domain Holdings Australia Ltd.(a)

     488,120        1,147,484  

Eagers Automotive Ltd.(a)

     479,274        4,330,207  

Elders Ltd.

     295,386        1,707,315  

First Resources Ltd.

     3,617,200        4,271,373  

G8 Education Ltd.

     1,203,878        975,620  

GR Engineering Services Ltd.

     389,077        493,807  

GrainCorp Ltd., Class A

     217,044        1,004,474  

Growthpoint Properties Australia Ltd.

     1,793,180        3,650,987  

GUD Holdings Ltd.(a)

     239,367        1,569,495  

GWA Group Ltd.

     565,913        619,698  

Hansen Technologies Ltd.

     199,608        617,636  

Helia Group Ltd.

     1,614,679        3,103,709  

HMC Capital Ltd.(a)

     304,660        732,525  

HomeCo Daily Needs REIT

     4,436,684        3,432,048  

HUB24 Ltd.

     27,912        515,209  

Infomedia Ltd.

     576,828        575,633  

Ingenia Communities Group

     430,514        1,087,030  

Inghams Group Ltd.

     386,537        807,716  

Insignia Financial Ltd.

     1,580,022        2,899,523  

Integral Diagnostics Ltd.(a)

     262,808        517,486  

InvoCare Ltd.(a)

     179,675        1,422,388  

IPH Ltd.

     242,676        1,202,739  

IRESS Ltd.

     289,095      1,920,725  

IVE Group Ltd.

     547,277        905,351  

Jumbo Interactive Ltd.

     77,728        655,935  

Kelsian Group Ltd.(a)

     260,818        1,021,895  

Link Administration Holdings Ltd.

     200,747        283,690  

Lovisa Holdings Ltd.

     177,417        2,880,320  

Maas Group Holdings Ltd.(a)

     289,247        542,425  

McMillan Shakespeare Ltd.

     298,749        2,881,256  

Monadelphous Group Ltd.

     167,156        1,405,007  

Monash IVF Group Ltd.

     1,006,247        721,110  

Myer Holdings Ltd.(a)

     2,473,079        1,474,147  

MyState Ltd.

     291,363        702,506  

Navigator Global Investments Ltd.

     1,318,345        927,110  

Netwealth Group Ltd.

     158,078        1,431,400  

Nick Scali Ltd.(a)

     217,210        1,360,205  

NRW Holdings Ltd.

     1,090,281        1,752,518  

Nufarm Ltd.

     182,238        696,928  

Omni Bridgeway Ltd.*

     199,029        354,577  

oOh!media Ltd.

     626,453        681,796  

Orora Ltd.

     2,084,518        4,774,684  

Pacific Current Group Ltd.(a)

     88,026        392,054  

Pact Group Holdings Ltd.

     471,661        353,802  

Perpetual Ltd.

     163,257        2,401,137  

Perseus Mining Ltd.

     1,034,769        1,649,427  

Pinnacle Investment Management Group Ltd.(a)

     316,722        1,665,178  

PSC Insurance Group Ltd.

     286,945        922,471  

PWR Holdings Ltd.

     68,455        457,102  

Region RE Ltd.

     2,958,377        4,656,228  

Reliance Worldwide Corp. Ltd.

     1,059,757        2,611,963  

Ridley Corp. Ltd.

     527,235        780,386  

Sims Ltd.

     700,462        7,276,277  

SmartGroup Corp. Ltd.

     559,883        2,403,633  

SRG Global Ltd.

     1,281,298        643,612  

Super Retail Group Ltd.

     563,670        4,737,852  

Terracom Ltd.(a)

     2,963,050        1,329,617  

Ventia Services Group Pty. Ltd.

     863,895        1,527,488  

Waypoint REIT Ltd.

     2,044,114        3,545,828  
     

 

 

 
Total Australia               161,295,007  
Austria – 1.7%      

AT&S Austria Technologie & Systemtechnik AG

     29,998        923,964  

Lenzing AG

     76,792        5,798,431  

Oesterreichische Post AG(a)

     134,512        4,976,086  

Porr AG

     41,958        615,401  

S IMMO AG

     54,092        780,442  

Schoeller-Bleckmann Oilfield Equipment AG

     7,428        478,560  

Semperit AG Holding

     73,240        1,973,375  

UNIQA Insurance Group AG

     448,710        3,783,007  

Zumtobel Group AG

     64,095        496,505  
     

 

 

 
Total Austria               19,825,771  
Belgium – 1.6%      

Barco NV

     52,450        1,563,649  

Bekaert SA

     88,175        3,985,185  

bpost SA

     513,912        2,928,491  

 

See Notes to Financial Statements.

 

WisdomTree Trust      67  


Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Econocom Group SA/NV

     520,074      $ 1,672,501  

Fagron

     25,783        440,628  

Intervest Offices & Warehouses NV(a)

     65,706        1,249,260  

Recticel SA(a)

     30,917        575,729  

VGP NV(a)

     68,188        6,089,610  

Xior Student Housing NV(a)

     28,827        970,892  
     

 

 

 
Total Belgium               19,475,945  
China – 0.4%      

CITIC Telecom International Holdings Ltd.

     6,944,822        2,831,028  

CPMC Holdings Ltd.

     698,009        383,241  

Yanlord Land Group Ltd.

     1,518,200        1,039,120  
     

 

 

 
Total China               4,253,389  
Denmark – 2.8%      

Alm Brand A/S

     1,482,718        2,772,304  

Cementir Holding NV

     146,027        1,251,757  

Chemometec A/S*

     5,283        302,192  

D/S Norden A/S

     158,917        10,689,417  

Dfds A/S

     64,612        2,617,820  

FLSmidth & Co. A/S

     33,277        1,272,539  

Per Aarsleff Holding A/S

     23,906        1,028,545  

Scandinavian Tobacco Group A/S(b)

     176,310        3,502,260  

Schouw & Co. A/S

     23,464        1,967,724  

Spar Nord Bank A/S

     154,856        2,443,710  

Sydbank A/S

     135,786        6,115,425  
     

 

 

 
Total Denmark               33,963,693  
Finland – 2.7%      

Aktia Bank Oyj

     74,242        770,305  

Anora Group Oyj(a)

     94,926        571,353  

Cargotec Oyj, Class B

     52,092        2,534,340  

Caverion Oyj

     158,886        1,479,368  

Citycon Oyj(a)

     324,204        2,217,297  

Fiskars Oyj Abp(a)

     91,927        1,568,023  

Harvia Oyj

     25,983        618,785  

Kemira Oyj

     274,535        4,837,916  

Konecranes Oyj

     130,034        4,356,934  

Lassila & Tikanoja Oyj(a)

     77,519        850,627  

Marimekko Oyj

     44,734        474,348  

Musti Group Oyj*

     28,217        493,874  

Outokumpu Oyj(a)

     517,309        2,822,516  

Puuilo Oyj

     149,738        1,093,229  

Raisio Oyj, Class V(a)

     241,081        657,425  

Sanoma Oyj

     155,718        1,372,048  

Terveystalo Oyj(a)(b)

     205,318        1,565,935  

Tokmanni Group Corp.(a)

     137,834        1,903,319  

Uponor Oyj(a)

     100,560        1,860,585  
     

 

 

 
Total Finland               32,048,227  
France – 2.9%      

Beneteau SA

     75,224        1,258,597  

Cie Plastic Omnium SA

     86,860        1,583,513  

Coface SA

     500,636        7,098,103  

Derichebourg SA

     337,270        1,978,706  

Etablissements Maurel et Prom SA

     286,519        1,072,389  

Fnac Darty SA

     50,327      1,857,950  

IPSOS

     49,397        3,064,407  

Jacquet Metals SACA(a)

     35,408        688,595  

Lectra

     20,521        810,425  

LISI(a)

     21,466        569,050  

Maisons du Monde SA(a)(b)

     78,275        842,340  

Mersen SA

     18,335        817,718  

Metropole Television SA(a)

     278,651        4,525,968  

Quadient SA

     40,753        742,953  

Television Francaise 1(a)

     439,209        3,881,848  

Trigano SA

     11,014        1,435,939  

Vicat SA(a)

     93,252        2,801,322  
     

 

 

 
Total France               35,029,823  
Georgia – 0.4%      

Bank of Georgia Group PLC

     137,010        4,658,666  
Germany – 3.4%

 

7C Solarparken AG

     108,401        445,179  

alstria office REIT AG(a)

     52,202        345,110  

AURELIUS Equity Opportunities SE & Co. KGaA

     60,080        969,318  

BayWa AG

     21,619        954,786  

Bilfinger SE

     46,683        1,983,103  

CompuGroup Medical SE & Co. KGaA

     26,031        1,339,972  

CropEnergies AG

     82,384        1,011,419  

Dermapharm Holding SE

     88,836        3,646,369  

Deutz AG

     177,749        1,153,864  

Duerr AG

     40,048        1,437,575  

Energiekontor AG

     6,734        485,793  

Gerresheimer AG

     19,807        1,961,485  

Hamborner REIT AG

     166,104        1,319,189  

Hamburger Hafen und Logistik AG

     132,089        1,633,122  

Hornbach Holding AG & Co. KGaA

     17,927        1,434,465  

Indus Holding AG

     34,744        943,690  

Instone Real Estate Group SE(b)

     127,684        1,082,034  

Jenoptik AG

     24,067        818,943  

JOST Werke AG(b)

     15,485        818,472  

Kloeckner & Co. SE

     375,090        4,036,451  

Mutares SE & Co. KGaA

     44,059        939,168  

SAF-Holland SE

     73,881        943,149  

Salzgitter AG

     62,863        2,486,029  

Siltronic AG

     45,758        3,340,766  

Varta AG(a)

     107,664        2,953,531  

Wacker Neuson SE

     80,405        1,685,097  

Wuestenrot & Wuerttembergische AG

     36,552        640,156  
     

 

 

 
Total Germany               40,808,235  
Hong Kong – 1.0%      

Dah Sing Banking Group Ltd.

     940,800        720,286  

Dah Sing Financial Holdings Ltd.

     346,629        889,760  

Fortune Real Estate Investment Trust

     4,431,000        3,669,004  

Hutchison Port Holdings Trust

     18,741,200        3,504,604  

Nissin Foods Co. Ltd.(a)

     1,165,000        1,028,472  

Singamas Container Holdings Ltd.(a)

     13,170,000        1,040,185  

 

See Notes to Financial Statements.

 

68   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Tam Jai International Co. Ltd.

     3,769,000      $ 1,118,704  
     

 

 

 
Total Hong Kong               11,971,015  
Indonesia – 0.3%      

Bumitama Agri Ltd.

     1,792,600        761,776  

Nickel Industries Ltd.

     5,154,888        3,107,238  
     

 

 

 
Total Indonesia               3,869,014  
Ireland – 0.3%      

Cairn Homes PLC

     1,311,676        1,453,572  

Kenmare Resources PLC

     210,099        1,219,653  

Origin Enterprises PLC

     200,975        901,782  
     

 

 

 
Total Ireland               3,575,007  
Israel – 2.6%      

Altshuler Shaham Penn Ltd.

     753,339        1,471,884  

Ashtrom Group Ltd.

     1        8  

AudioCodes Ltd.

     23,023        336,651  

Automatic Bank Services Ltd.

     110,697        379,069  

Azorim-Investment Development & Construction Co. Ltd.

     130,393        324,185  

Carasso Motors Ltd.

     103,254        486,353  

Delek Automotive Systems Ltd.

     204,722        1,899,591  

Delta Galil Ltd.

     19,864        785,038  

Electra Consumer Products 1970 Ltd.

     15,209        410,315  

Electra Real Estate Ltd.

     87,109        767,872  

FIBI Holdings Ltd.

     58,856        2,198,529  

G City Ltd.

     496,104        1,632,714  

Gav-Yam Lands Corp. Ltd.

     209,447        1,526,942  

Harel Insurance Investments & Financial Services Ltd.

     373,731        3,134,622  

Israel Canada T.R Ltd.

     234,401        425,101  

Israel Land Development Co. Ltd.

     32,149        264,735  

Magic Software Enterprises Ltd.

     57,978        760,019  

Matrix IT Ltd.

     106,482        1,867,830  

Max Stock Ltd.

     511,125        995,804  

Maytronics Ltd.

     111,996        1,186,015  

Mediterranean Towers Ltd.*

     202,447        398,243  

Mega Or Holdings Ltd.

     43,733        931,588  

Mehadrin Ltd.*

     1        28  

Migdal Insurance & Financial Holdings Ltd.*

     422,264        449,161  

Oil Refineries Ltd.

     5,193,019        1,414,842  

One Software Technologies Ltd.

     62,396        632,512  

Paz Oil Co. Ltd.*

     1        56  

Plus500 Ltd.(a)

     222,563        4,656,182  

Shufersal Ltd.

     186,808        903,261  

Tamar Petroleum Ltd.(b)

     120,077        334,487  
     

 

 

 
Total Israel               30,573,637  
Italy – 4.3%      

Alerion Cleanpower SpA

     31,771        1,019,995  

Anima Holding SpA(a)(b)

     896,569        3,648,894  

Ariston Holding NV

     46,630        514,211  

Arnoldo Mondadori Editore SpA

     301,898        640,906  

Azimut Holding SpA(a)

     323,470        6,923,249  

Banca Popolare di Sondrio SpA

     702,715        2,988,201  

Cairo Communication SpA

     450,467        915,197  

Carel Industries SpA(b)

     21,434      586,832  

Credito Emiliano SpA

     297,260        2,202,574  

Danieli & C. Officine Meccaniche SpA(a)

     28,067        745,563  

El.En. SpA

     34,492        450,810  

Enav SpA(b)

     390,340        1,635,271  

Esprinet SpA

     112,324        1,125,157  

Immobiliare Grande Distribuzione SIIQ SpA(a)

     339,288        1,043,193  

Iren SpA

     2,533,940        4,859,043  

Maire Tecnimont SpA(a)

     591,541        2,543,726  

MARR SpA

     85,547        1,230,559  

OVS SpA(b)

     202,302        529,696  

Piaggio & C. SpA

     814,163        3,478,040  

RAI Way SpA(b)

     520,067        3,130,248  

Salcef Group SpA(a)

     53,857        1,258,028  

Sanlorenzo SpA(a)

     21,489        933,869  

SOL SpA

     76,989        2,066,024  

Technogym SpA(a)(b)

     155,793        1,387,096  

Unieuro SpA(a)(b)

     71,098        838,874  

Webuild SpA(a)

     1,055,808        2,408,873  

Zignago Vetro SpA

     88,855        1,733,796  
     

 

 

 
Total Italy               50,837,925  
Japan – 27.4%      

77 Bank Ltd.(a)

     94,600        1,536,744  

ADEKA Corp.(a)

     69,401        1,177,455  

Aeon Delight Co. Ltd.

     30,400        694,387  

Ai Holdings Corp.

     47,800        822,825  

Aica Kogyo Co. Ltd.(a)

     46,600        1,062,672  

Aichi Corp.

     137,700        823,572  

AIT Corp.

     100        1,214  

Alinco, Inc.(a)

     74,000        586,596  

Alleanza Holdings Co. Ltd.

     100        739  

Alps Alpine Co. Ltd.(a)

     116,300        1,108,909  

Amano Corp.

     52,500        984,202  

Anritsu Corp.

     72,200        662,380  

Arcs Co. Ltd.(a)

     62,600        1,055,955  

Ariake Japan Co. Ltd.(a)

     15,400        564,671  

As One Corp.(a)

     15,500        653,355  

Asahi Holdings, Inc.(a)

     86,200        1,309,613  

Asanuma Corp.(a)

     40,900        957,273  

ASKUL Corp.

     43,600        564,451  

Autobacs Seven Co. Ltd.

     101,003        1,096,621  

Bando Chemical Industries Ltd.

     97,900        778,257  

Bank of Nagoya Ltd.

     32,500        770,437  

Baroque Japan Ltd.

     100        616  

Bell System24 Holdings, Inc.

     87,000        943,933  

Benesse Holdings, Inc.(a)

     48,400        705,508  

BML, Inc.(a)

     28,000        649,035  

Bunka Shutter Co. Ltd.(a)

     65,800        546,809  

C. Uyemura & Co. Ltd.(a)

     14,300        696,251  

Central Glass Co. Ltd.

     27,200        600,243  

Chori Co. Ltd.

     43,900        827,269  

Citizen Watch Co. Ltd.(a)

     294,500        1,721,549  

CKD Corp.

     65,900        1,064,580  

Cybernet Systems Co. Ltd.(a)

     40,200        267,919  

 

See Notes to Financial Statements.

 

WisdomTree Trust      69  


Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Daicel Corp.

     223,200      $ 1,677,061  

Daido Metal Co. Ltd.

     100        384  

Daido Steel Co. Ltd.(a)

     43,291        1,691,436  

Daihen Corp.

     21,500        716,451  

Daiho Corp.(a)

     28,600        790,803  

Daiichikosho Co. Ltd.

     75,200        1,234,028  

Daiken Corp.

     42,700        731,505  

Dainichiseika Color & Chemicals Manufacturing Co. Ltd.

     100        1,340  

Daio Paper Corp.(a)

     105,000        815,764  

Daiseki Co. Ltd.

     14,100        444,432  

Daishi Hokuetsu Financial Group, Inc.

     52,140        1,132,201  

Daiwabo Holdings Co. Ltd.

     71,200        1,167,853  

DCM Holdings Co. Ltd.

     82,900        719,434  

Denka Co. Ltd.

     66,800        1,372,740  

Dexerials Corp.(a)

     33,900        684,674  

DIC Corp.

     66,300        1,185,619  

Dip Corp.(a)

     19,000        504,659  

DMG Mori Co. Ltd.

     94,000        1,573,612  

DTS Corp.

     40,200        972,605  

Eagle Industry Co. Ltd.

     73,100        652,512  

Earth Corp.

     26,700        949,917  

EDION Corp.(a)

     113,200        1,090,408  

Eiken Chemical Co. Ltd.

     53,800        631,824  

Elecom Co. Ltd.

     67,500        636,505  

Elematec Corp.

     80,300        1,118,010  

en Japan, Inc.(a)

     27,400        469,191  

ES-Con Japan Ltd.(a)

     143,300        935,665  

Exedy Corp.

     99,100        1,349,976  

EXEO Group, Inc.

     81,400        1,466,044  

Ezaki Glico Co. Ltd.

     29,000        726,689  

Feed One Co. Ltd.(a)

     32,400        164,568  

Financial Partners Group Co. Ltd.

     105,800        918,168  

Food & Life Cos. Ltd.

     27,500        710,797  

France Bed Holdings Co. Ltd.(a)

     112,200        891,935  

Fudo Tetra Corp.

     100        1,225  

Fuji Corp. Ltd.(a)

     224,200        1,143,826  

Fuji Oil Holdings, Inc.(a)

     39,300        567,841  

Fuji Pharma Co. Ltd.

     101,400        863,222  

Fuji Soft, Inc.(a)

     13,800        795,296  

Fujikura Ltd.

     89,100        627,965  

Fujimi, Inc.(a)

     25,241        1,384,471  

Fujitec Co. Ltd.(a)

     44,700        1,103,310  

Fukuyama Transporting Co. Ltd.

     26,900        725,607  

Funai Soken Holdings, Inc.(a)

     44,000        895,935  

Furukawa Electric Co. Ltd.(a)

     40,100        741,499  

Furyu Corp.

     100        899  

Futaba Industrial Co. Ltd.

     100        320  

Future Corp.

     53,200        727,108  

Gecoss Corp.(a)

     140,100        929,509  

Glory Ltd.(a)

     38,277        832,609  

Goldcrest Co. Ltd.(a)

     66,300        850,856  

GS Yuasa Corp.(a)

     36,200        647,895  

Gunma Bank Ltd.(a)

     363,100        1,208,605  

H.U. Group Holdings, Inc.(a)

     67,100      1,344,118  

Hachijuni Bank Ltd.

     405,000        1,749,756  

Hakudo Co. Ltd.(a)

     11,200        220,230  

Hakuto Co. Ltd.(a)

     40,300        1,488,275  

Hanwa Co. Ltd.(a)

     25,200        746,968  

Hazama Ando Corp.(a)

     159,700        1,027,149  

Heiwa Corp.

     77,319        1,527,325  

Heiwa Real Estate Co. Ltd.

     28,800        819,055  

Hirogin Holdings, Inc.(a)

     335,700        1,578,993  

Hochiki Corp.

     73,900        859,548  

Hogy Medical Co. Ltd.(a)

     16,200        386,468  

Hokkaido Gas Co. Ltd.

     59,100        862,809  

Hokuhoku Financial Group, Inc.(a)

     114,300        794,406  

Horiba Ltd.

     31,100        1,848,381  

Hyakujushi Bank Ltd.

     73,700        1,017,258  

I-PEX, Inc.

     18,200        192,543  

Ichibanya Co. Ltd.(a)

     24,600        931,580  

Ichigo, Inc.

     235,200        489,521  

Idec Corp.(a)

     33,400        862,041  

Iino Kaiun Kaisha Ltd.

     162,400        1,225,108  

Inaba Denki Sangyo Co. Ltd.

     70,700        1,535,224  

Inabata & Co. Ltd.(a)

     54,600        1,102,338  

Information Services International-Dentsu Ltd.

     33,300        1,301,074  

INFRONEER Holdings, Inc.

     183,888        1,412,079  

Inui Global Logistics Co. Ltd.(a)

     70,100        944,393  

Itochu Enex Co. Ltd.

     162,101        1,375,100  

Itoham Yonekyu Holdings, Inc.(a)

     228,800        1,203,396  

Izumi Co. Ltd.

     42,600        1,006,665  

JAC Recruitment Co. Ltd.

     58,700        1,148,948  

Japan Aviation Electronics Industry Ltd.(a)

     59,400        1,025,631  

Japan Lifeline Co. Ltd.

     76,000        523,075  

Japan Steel Works Ltd.(a)

     31,100        579,284  

Japan Transcity Corp.

     100        458  

Jeol Ltd.

     12,200        389,128  

Joyful Honda Co. Ltd.

     81,800        1,052,847  

Juki Corp.

     60,700        284,595  

Juroku Financial Group, Inc.

     52,900        1,122,471  

K’s Holdings Corp.(a)

     216,900        1,895,369  

Kaga Electronics Co. Ltd.

     32,700        1,230,949  

Kaken Pharmaceutical Co. Ltd.

     25,600        710,737  

Kanamoto Co. Ltd.

     50,500        826,805  

Kandenko Co. Ltd.

     116,700        819,855  

Kaneka Corp.

     36,600        948,756  

Kanematsu Corp.

     101,400        1,251,024  

Katitas Co. Ltd.

     27,500        532,891  

Kato Sangyo Co. Ltd.

     39,100        1,031,189  

KH Neochem Co. Ltd.

     40,700        733,328  

Ki-Star Real Estate Co. Ltd.(a)

     17,200        535,683  

Kitz Corp.

     130,800        912,032  

Koatsu Gas Kogyo Co. Ltd.

     100        529  

Kobe Steel Ltd.

     488,000        3,861,026  

Kojima Co. Ltd.

     100        421  

Kokuyo Co. Ltd.

     92,000        1,298,189  

KOMEDA Holdings Co. Ltd.

     52,000        919,348  

 

See Notes to Financial Statements.

 

70   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Komeri Co. Ltd.

     37,600      $ 772,963  

Konica Minolta, Inc.(a)

     455,100        1,945,690  

Kumagai Gumi Co. Ltd.

     34,800        695,268  

Kumiai Chemical Industry Co. Ltd.

     81,000        517,319  

Kurabo Industries Ltd.

     52,895        1,000,351  

Kureha Corp.(a)

     11,200        711,098  

KYB Corp.

     37,600        1,135,713  

KYORIN Holdings, Inc.

     46,390        593,948  

Kyudenko Corp.(a)

     45,200        1,142,821  

Kyushu Financial Group, Inc.(a)

     310,600        1,113,203  

LEC, Inc.

     100        605  

Life Corp.

     34,800        674,873  

Lintec Corp.

     85,930        1,397,839  

Mabuchi Motor Co. Ltd.

     34,800        1,007,995  

Macnica Holdings, Inc.

     68,800        1,943,707  

Makino Milling Machine Co. Ltd.(a)

     12,400        452,341  

Mani, Inc.(a)

     29,900        405,736  

Maruha Nichiro Corp.

     51,800        924,374  

Maruichi Steel Tube Ltd.

     73,500        1,607,070  

Matsui Securities Co. Ltd.(a)

     195,840        1,152,173  

Max Co. Ltd.

     50,900        810,790  

MCJ Co. Ltd.

     94,100        658,255  

Megmilk Snow Brand Co. Ltd.

     77,600        1,027,942  

Meitec Corp.

     77,500        1,376,587  

MIRAIT ONE Corp.

     77,000        954,039  

Mitsubishi Logistics Corp.

     61,500        1,437,110  

Mitsubishi Materials Corp.

     71,300        1,155,565  

Mitsubishi Shokuhin Co. Ltd.

     38,700        945,037  

Mitsuboshi Belting Ltd.(a)

     58,900        1,741,464  

Mitsui High-Tec, Inc.

     8,000        502,517  

Mitsui Matsushima Holdings Co. Ltd.(a)

     20,700        510,929  

Mitsui Mining & Smelting Co. Ltd.(a)

     60,364        1,458,188  

Mitsui-Soko Holdings Co. Ltd.(a)

     39,900        1,176,704  

MIXI, Inc.

     88,300        1,766,133  

Mochida Pharmaceutical Co. Ltd.(a)

     30,200        757,893  

Monex Group, Inc.(a)

     182,900        655,521  

Morinaga & Co. Ltd.

     38,100        1,074,953  

Morinaga Milk Industry Co. Ltd.

     21,600        774,153  

Musashi Seimitsu Industry Co. Ltd.(a)

     53,500        750,503  

Nachi-Fujikoshi Corp.(a)

     33,000        979,412  

Nagase & Co. Ltd.(a)

     77,000        1,177,361  

Nakanishi, Inc.

     36,900        728,352  

NEC Networks & System Integration Corp.

     74,600        905,245  

NET One Systems Co. Ltd.

     35,800        851,356  

Neturen Co. Ltd.

     53,400        278,856  

NHK Spring Co. Ltd.

     239,600        1,704,870  

Nichias Corp.

     69,600        1,391,582  

Nichicon Corp.(a)

     59,800        620,062  

Nichiha Corp.

     38,300        776,705  

Nihon Kohden Corp.

     28,200        760,673  

Nihon Nohyaku Co. Ltd.

     100        506  

Nihon Parkerizing Co. Ltd.

     164,100        1,223,136  

Nikkon Holdings Co. Ltd.(a)

     55,400        1,030,243  

Nippn Corp.

     107,900        1,345,811  

Nippon Air Conditioning Services Co. Ltd.(a)

     14,100      76,385  

Nippon Carbon Co. Ltd.

     33,600        1,035,089  

Nippon Denko Co. Ltd.(a)

     241,500        647,798  

Nippon Electric Glass Co. Ltd.

     127,300        2,438,107  

Nippon Gas Co. Ltd.

     83,300        1,204,217  

Nippon Kanzai Co. Ltd.*(a)

     45,500        920,666  

Nippon Kayaku Co. Ltd.(a)

     182,499        1,641,380  

Nippon Koei Co. Ltd.

     27,300        691,269  

Nippon Light Metal Holdings Co. Ltd.(a)

     67,900        745,885  

Nippon Pillar Packing Co. Ltd.(a)

     40,100        1,129,875  

Nippon Shokubai Co. Ltd.

     38,300        1,519,453  

Nippon Soda Co. Ltd.

     37,300        1,293,407  

Nippon Steel Trading Corp.

     39,773        2,776,250  

Nipro Corp.(a)

     77,000        589,548  

Nishi-Nippon Financial Holdings, Inc.

     191,800        1,567,950  

Nishi-Nippon Railroad Co. Ltd.(a)

     44,400        797,992  

Nishimatsu Construction Co. Ltd.(a)

     65,800        1,693,328  

Nishio Rent All Co. Ltd.

     39,600        923,871  

Nisshinbo Holdings, Inc.

     149,192        1,134,438  

Nissui Corp.

     233,400        952,259  

Nitta Corp.(a)

     59,500        1,310,350  

Nitto Kogyo Corp.(a)

     34,700        688,838  

Noevir Holdings Co. Ltd.

     40,100        1,627,019  

NOK Corp.(a)

     151,700        1,667,572  

Noritake Co. Ltd.

     24,700        851,852  

North Pacific Bank Ltd.

     421,400        880,225  

NS United Kaiun Kaisha Ltd.(a)

     36,200        1,119,265  

NSD Co. Ltd.

     76,600        1,372,112  

Ogaki Kyoritsu Bank Ltd.(a)

     75,700        1,015,855  

Ohsho Food Service Corp.(a)

     20,700        936,314  

Okamura Corp.

     91,900        941,856  

Okasan Securities Group, Inc.(a)

     431,900        1,528,476  

Okinawa Cellular Telephone Co.

     61,000        1,388,760  

OKUMA Corp.(a)

     22,300        990,255  

Okumura Corp.(a)

     36,300        853,701  

Onward Holdings Co. Ltd.

     247,300        711,668  

Open Up Group, Inc.

     60,700        875,222  

Organo Corp.(a)

     28,500        771,978  

Osaka Soda Co. Ltd.(a)

     21,000        687,167  

OSG Corp.

     71,500        1,068,014  

PAL GROUP Holdings Co. Ltd.

     50,200        1,163,626  

PALTAC Corp.(a)

     23,600        890,165  

Paramount Bed Holdings Co. Ltd.

     43,500        770,704  

Penta-Ocean Construction Co. Ltd.(a)

     173,900        825,793  

PHC Holdings Corp.

     108,400        1,166,345  

Pigeon Corp.

     80,600        1,240,885  

Pilot Corp.

     17,700        571,869  

Piolax, Inc.(a)

     36,000        522,053  

Press Kogyo Co. Ltd.

     259,600        971,379  

Prima Meat Packers Ltd.

     72,000        1,190,713  

Raito Kogyo Co. Ltd.

     53,900        790,134  

Raiznext Corp.

     90,300        987,200  

Relia, Inc.

     27,600        302,150  

Rengo Co. Ltd.(a)

     147,600        952,652  

 

See Notes to Financial Statements.

 

WisdomTree Trust      71  


Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Resorttrust, Inc.

     61,500      $ 974,555  

Riken Corp.

     100        1,948  

Roland Corp.

     23,500        703,640  

Round One Corp.(a)

     103,300        396,621  

Ryosan Co. Ltd.(a)

     41,800        1,030,160  

S Foods, Inc.(a)

     33,400        714,979  

Sakai Chemical Industry Co. Ltd.

     100        1,330  

Sakai Moving Service Co. Ltd.(a)

     16,500        574,010  

Sakata Seed Corp.

     17,500        514,126  

SAMTY Co. Ltd.(a)

     52,900        874,843  

San-Ai Obbli Co. Ltd.

     56,100        577,903  

San-In Godo Bank Ltd.

     282,800        1,570,285  

Sangetsu Corp.

     147,400        2,474,202  

Sanki Engineering Co. Ltd.(a)

     104,800        1,152,808  

Sankyu, Inc.

     32,900        1,212,522  

Sanyo Chemical Industries Ltd.

     24,400        782,839  

Sanyo Special Steel Co. Ltd.(a)

     63,500        1,169,900  

Sapporo Holdings Ltd.

     32,500        831,486  

Sawai Group Holdings Co. Ltd.

     17,700        485,423  

Scroll Corp.(a)

     120,300        730,351  

Seika Corp.(a)

     9,600        148,158  

Seiko Group Corp.

     24,700        537,279  

Seino Holdings Co. Ltd.(a)

     95,500        1,047,637  

Senko Group Holdings Co. Ltd.

     148,000        1,050,868  

Senshu Ikeda Holdings, Inc.(a)

     608,200        1,060,203  

Seria Co. Ltd.

     52,700        1,038,240  

Shiga Bank Ltd.(a)

     62,300        1,254,051  

Shin-Etsu Polymer Co. Ltd.

     78,200        876,070  

Shinsho Corp.

     20,300        884,665  

Ship Healthcare Holdings, Inc.

     31,800        582,287  

Shoei Co. Ltd.

     36,200        754,518  

Sinfonia Technology Co. Ltd.

     47,900        567,213  

SKY Perfect JSAT Holdings, Inc.

     305,800        1,187,907  

Sotetsu Holdings, Inc.(a)

     50,900        867,392  

ST Corp.

     100        1,174  

Star Micronics Co. Ltd.

     55,600        753,226  

Starts Corp., Inc.

     53,700        1,026,066  

Sumitomo Bakelite Co. Ltd.

     28,400        1,101,090  

Sumitomo Mitsui Construction Co. Ltd.(a)

     212,900        614,273  

Sumitomo Osaka Cement Co. Ltd.(a)

     26,000        728,680  

Sun Frontier Fudousan Co. Ltd.

     121,900        1,173,296  

Suncall Corp.(a)

     72,100        321,251  

Systena Corp.(a)

     199,100        433,834  

T Hasegawa Co. Ltd.(a)

     28,500        636,212  

T-Gaia Corp.(a)

     63,000        790,518  

Taiheiyo Cement Corp.

     71,400        1,334,223  

Taikisha Ltd.

     27,700        765,918  

Taiyo Holdings Co. Ltd.(a)

     41,300        775,791  

Takaoka Toko Co. Ltd.(a)

     6,400        113,054  

Takara Bio, Inc.

     52,500        683,616  

Takara Holdings, Inc.(a)

     171,300        1,315,415  

Takara Standard Co. Ltd.

     104,100        1,149,019  

Takasago Thermal Engineering Co. Ltd.

     49,500        784,398  

Takeuchi Manufacturing Co. Ltd.

     45,300        997,968  

Takuma Co. Ltd.

     67,200      670,031  

Tama Home Co. Ltd.(a)

     34,900        959,757  

Tatsuta Electric Wire & Cable Co. Ltd.

     35,100        187,513  

Tayca Corp.

     100        882  

Teijin Ltd.

     109,800        1,151,708  

Teikoku Electric Manufacturing Co. Ltd.

     49,400        910,127  

TKC Corp.(a)

     38,300        1,056,135  

Toagosei Co. Ltd.

     139,600        1,292,262  

Tocalo Co. Ltd.

     99,700        970,856  

Toda Corp.(a)

     213,100        1,106,410  

Toho Bank Ltd.(a)

     281,800        459,468  

Tokai Carbon Co. Ltd.

     123,800        1,172,049  

TOKAI Holdings Corp.(a)

     160,200        1,050,827  

Tokai Rika Co. Ltd.(a)

     67,522        825,444  

Tokai Tokyo Financial Holdings, Inc.(a)

     295,400        812,356  

Token Corp.

     11,200        668,179  

Tokuyama Corp.

     46,700        738,624  

Tokyo Kiraboshi Financial Group, Inc.(a)

     44,300        873,751  

Tokyo Ohka Kogyo Co. Ltd.

     27,000        1,560,072  

Tokyo Seimitsu Co. Ltd.

     66,400        2,554,422  

Tokyo Steel Manufacturing Co. Ltd.(a)

     99,600        1,022,268  

Tokyotokeiba Co. Ltd.

     22,300        677,763  

Tokyu Construction Co. Ltd.

     65,200        330,678  

Tomoku Co. Ltd.(a)

     97,700        1,173,809  

Tomy Co. Ltd.

     78,600        874,646  

Topcon Corp.

     71,000        950,650  

Totech Corp.

     24,600        808,663  

Totetsu Kogyo Co. Ltd.(a)

     37,800        769,406  

Towa Pharmaceutical Co. Ltd.(a)

     34,400        489,804  

Toyo Tanso Co. Ltd.

     31,300        965,411  

Toyo Tire Corp.(a)

     138,500        1,607,803  

Toyobo Co. Ltd.(a)

     86,100        672,161  

Transcosmos, Inc.(a)

     66,400        1,564,084  

TS Tech Co. Ltd.

     101,500        1,280,476  

Tsubakimoto Chain Co.

     46,700        1,128,113  

Tsumura & Co.

     45,901        907,053  

UACJ Corp.(a)

     39,900        789,965  

UBE Corp.

     79,900        1,233,710  

Ulvac, Inc.

     26,200        1,131,941  

Valor Holdings Co. Ltd.

     64,000        926,170  

Valqua Ltd.

     47,500        1,229,525  

VT Holdings Co. Ltd.

     207,800        791,604  

Wacoal Holdings Corp.(a)

     48,800        911,906  

Wacom Co. Ltd.(a)

     123,000        637,689  

Xebio Holdings Co. Ltd.

     88,200        695,182  

YAMABIKO Corp.

     62,700        619,980  

Yamagata Bank Ltd.(a)

     8,900        67,741  

Yamaguchi Financial Group, Inc.(a)

     232,400        1,417,904  

Yamaichi Electronics Co. Ltd.(a)

     51,000        753,753  

Yamazen Corp.

     109,800        839,031  

Yaoko Co. Ltd.(a)

     14,800        767,300  

Yellow Hat Ltd.(a)

     76,300        1,045,119  

Yokogawa Bridge Holdings Corp.

     59,900        973,954  

Yokorei Co. Ltd.(a)

     29,500        212,567  

 

See Notes to Financial Statements.

 

72   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Yuasa Trading Co. Ltd.

     29,300      $ 833,274  

Yurtec Corp.(a)

     75,500        470,280  
     

 

 

 
Total Japan               327,535,788  
Malaysia – 0.1%      

Frencken Group Ltd.(a)

     898,500        763,646  
Netherlands – 0.8%

 

AMG Advanced Metallurgical Group NV

     24,308        1,035,778  

Brunel International NV

     66,065        917,301  

Corbion NV

     31,169        1,024,034  

ForFarmers NV

     204,079        721,704  

Heijmans NV, CVA

     98,533        1,353,127  

Ordina NV

     194,451        1,259,117  

RHI Magnesita NV

     120,351        3,333,299  

Sligro Food Group NV

     29,081        497,938  
     

 

 

 
Total Netherlands               10,142,298  
Norway – 3.4%      

ABG Sundal Collier Holding ASA

     1,516,192        883,098  

AF Gruppen ASA

     66,055        939,760  

Aker Solutions ASA

     109,056        396,109  

AMSC ASA*

     135,760        537,954  

Atea ASA*

     151,555        1,852,273  

Austevoll Seafood ASA

     363,820        3,261,947  

Belships ASA

     1,193,622        2,302,199  

Bonheur ASA

     19,355        429,676  

Borregaard ASA

     59,698        996,382  

Bouvet ASA

     114,180        701,013  

DNO ASA(a)

     1,557,983        1,527,770  

Elopak ASA

     174,670        362,746  

Entra ASA(b)

     248,424        2,398,112  

Europris ASA(b)

     320,261        2,221,593  

Grieg Seafood ASA

     150,065        1,171,364  

Kid ASA(b)

     93,659        759,245  

MPC Container Ships ASA(a)

     2,545,309        4,055,006  

OKEA ASA(a)

     230,061        693,054  

Pareto Bank ASA

     103,954        528,053  

Protector Forsikring ASA

     144,049        1,911,832  

Rana Gruber ASA

     232,903        1,354,307  

Selvaag Bolig ASA

     138,626        490,408  

SpareBank 1 Nord Norge(a)

     269,704        2,268,757  

SpareBank 1 Oestlandet

     78,868        856,974  

SpareBank 1 SMN(a)

     203,538        2,402,087  

Sparebanken Vest

     130,079        1,142,667  

TGS ASA

     126,741        2,270,255  

Veidekke ASA

     140,711        1,494,024  
     

 

 

 
Total Norway               40,208,665  
Peru – 0.1%      

Hochschild Mining PLC

     1,069,814        1,117,742  
Portugal – 1.7%

 

Altri SGPS SA(a)

     280,527        1,446,479  

Banco Comercial Portugues SA, Class R

     3,130,067        693,735  

Corticeira Amorim SGPS SA(a)

     112,645        1,223,832  

CTT – Correios de Portugal SA(a)

     211,957        832,465  

Mota-Engil SGPS SA(a)

     382,916      660,638  

NOS SGPS SA

     1,447,827        6,631,732  

REN – Redes Energeticas Nacionais SGPS SA

     1,734,602        5,088,307  

Sonae SGPS SA

     3,321,814        3,627,029  
     

 

 

 
Total Portugal               20,204,217  
Singapore – 3.6%      

AEM Holdings Ltd.(a)

     580,000        1,387,236  

Aztech Global Ltd.

     1,091,800        665,156  

Bukit Sembawang Estates Ltd.(a)

     533,000        1,643,639  

Capitaland India Trust(a)

     2,567,900        2,105,232  

Geo Energy Resources Ltd.(a)

     6,851,800        1,700,646  

Hour Glass Ltd.

     1,398,800        2,293,546  

Japfa Ltd.(a)

     1,422,200        246,028  

Jiutian Chemical Group Ltd.

     14,730,700        808,801  

Kenon Holdings Ltd.

     142,575        4,173,526  

Keppel DC REIT

     3,427,400        5,310,401  

Keppel Infrastructure Trust(a)

     10,561,582        4,170,457  

Parkway Life Real Estate Investment Trust

     965,700        2,898,080  

Propnex Ltd.

     1,488,500        2,160,735  

Raffles Medical Group Ltd.

     1,329,100        1,489,496  

Samudera Shipping Line Ltd.

     2,469,000        2,339,844  

Sheng Siong Group Ltd.

     2,605,200        3,311,487  

Silverlake Axis Ltd.

     2,705,500        671,517  

Singapore Post Ltd.

     2,527,300        950,434  

StarHub Ltd.

     1,545,900        1,209,233  

UMS Holdings Ltd.

     2,018,698        1,685,348  

Wing Tai Holdings Ltd.

     1,297,600        1,454,194  
     

 

 

 
Total Singapore               42,675,036  
Spain – 1.9%      

Almirall SA

     95,007        887,695  

Applus Services SA

     89,285        697,941  

Atresmedia Corp. de Medios de Comunicacion SA

     715,739        2,701,433  

Construcciones y Auxiliar de Ferrocarriles SA

     31,441        874,472  

Ence Energia y Celulosa SA(a)

     571,095        2,128,199  

Faes Farma SA

     778,663        2,664,832  

Gestamp Automocion SA(b)

     364,307        1,651,283  

Indra Sistemas SA

     86,964        1,176,301  

Linea Directa Aseguradora SA Cia de Seguros y Reaseguros(a)

     1,337,148        1,441,849  

Neinor Homes SA(b)

     154,947        1,525,180  

Pharma Mar SA(a)

     5,749        276,198  

Prosegur Cash SA(a)(b)

     2,044,288        1,568,038  

Prosegur Cia de Seguridad SA

     1,199,057        2,385,272  

Sacyr SA(a)

     911,066        2,929,889  
     

 

 

 
Total Spain               22,908,582  
Sweden – 6.1%      

AcadeMedia AB(b)

     120,650        600,367  

AddLife AB, Class B

     63,440        573,860  

AFRY AB

     125,022        2,250,976  

Akelius Residential Property AB, Class D

     476,478        955,618  

Atrium Ljungberg AB, Class B(a)

     150,806        2,457,794  

Beijer Alma AB(a)

     52,957        1,054,590  

 

See Notes to Financial Statements.

 

WisdomTree Trust      73  


Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Betsson AB, Class B*

     175,186      $ 1,665,775  

Bilia AB, Class A

     199,237        2,459,348  

Bravida Holding AB(b)

     193,723        2,182,047  

Catena AB

     32,085        1,188,156  

Clas Ohlson AB, Class B(a)

     168,253        1,251,000  

Cloetta AB, Class B

     518,950        1,094,997  

Coor Service Management Holding AB(b)

     179,294        1,143,762  

Corem Property Group AB, Class B(a)

     1,950,288        1,360,747  

Dios Fastigheter AB

     223,331        1,482,836  

Dometic Group AB(a)(b)

     411,946        2,505,948  

Electrolux Professional AB, Class B

     123,038        643,100  

Elekta AB, Class B(a)

     457,205        3,486,725  

Granges AB

     106,980        1,018,778  

HMS Networks AB

     21,340        871,335  

Instalco AB(a)

     154,569        745,004  

Inwido AB

     109,114        1,159,584  

JM AB(a)

     180,443        2,989,533  

KNOW IT AB

     27,458        546,536  

Lagercrantz Group AB, Class B

     116,299        1,454,642  

Lindab International AB

     70,933        1,084,905  

Loomis AB

     63,988        2,190,620  

MEKO AB

     62,660        746,272  

MIPS AB(a)

     16,125        814,216  

Munters Group AB(a)(b)

     65,092        599,789  

Mycronic AB

     63,240        1,553,930  

NCC AB, Class B

     198,206        1,756,598  

New Wave Group AB, Class B

     44,414        761,538  

Nolato AB, Class B

     284,786        1,443,216  

Nordic Paper Holding AB

     205,637        889,414  

Nordic Waterproofing Holding AB

     38,476        604,066  

Peab AB, Class B

     666,354        3,331,915  

Platzer Fastigheter Holding AB, Class B

     129,760        1,006,090  

Ratos AB, Class B(a)

     270,843        825,885  

Resurs Holding AB(b)

     658,514        1,466,956  

Sagax AB, Class D(a)

     402,819        1,017,774  

Samhallsbyggnadsbolaget i Norden AB, Class D(a)

     730,894        1,134,803  

Sectra AB, Class B*(a)

     40,026        625,853  

Skandinaviska Enskilda Banken AB, Class C*(a)

     14,045        179,870  

SkiStar AB(a)

     39,179        470,773  

SSAB AB, Class A

     1,249,059        9,207,542  

Svenska Handelsbanken AB, Class B(a)

     24,406        261,723  

Synsam AB(a)

     126,723        495,427  

Troax Group AB

     39,896        829,119  

Wihlborgs Fastigheter AB

     397,806        3,044,096  
     

 

 

 
Total Sweden               73,485,448  
Switzerland – 1.4%      

Arbonia AG

     53,480        639,266  

Comet Holding AG, Registered Shares

     6,072        1,681,589  

Huber + Suhner AG, Registered Shares

     21,869        1,874,383  

Landis & Gyr Group AG*

     31,016        2,378,273  

Medmix AG(b)

     36,894        770,552  

Mobilezone Holding AG, Registered Shares

     112,295        1,833,990  

Sulzer AG, Registered Shares(a)

     53,359        4,523,731  

Swissquote Group Holding SA, Registered Shares

     9,837      1,919,914  

u-blox Holding AG*

     3,964        554,539  

Zehnder Group AG

     9,477        772,849  
     

 

 

 
Total Switzerland               16,949,086  
United Kingdom – 14.1%      

AG Barr PLC

     109,446        682,036  

AJ Bell PLC

     290,593        1,240,316  

Alliance Pharma PLC(a)

     433,913        370,193  

Ashmore Group PLC

     1,778,456        5,246,747  

Assura PLC

     6,961,227        4,205,483  

Bloomsbury Publishing PLC

     142,637        786,581  

Bodycote PLC

     236,815        1,910,585  

Bridgepoint Group PLC(b)(c)

     709,107        1,935,920  

Bytes Technology Group PLC

     151,995        729,937  

Central Asia Metals PLC

     710,041        2,076,305  

Chemring Group PLC

     206,838        710,971  

Chesnara PLC

     308,697        1,145,065  

Clarkson PLC

     32,061        1,224,932  

Close Brothers Group PLC

     284,871        3,173,581  

CLS Holdings PLC

     740,571        1,230,673  

CMC Markets PLC(a)(b)

     423,816        921,240  

Coats Group PLC

     1,446,453        1,318,100  

Concentric AB

     28,278        578,129  

Craneware PLC(a)

     19,386        275,653  

Cranswick PLC

     60,607        2,251,123  

Crest Nicholson Holdings PLC

     583,049        1,574,470  

Currys PLC

     1,784,430        1,296,236  

Devro PLC

     403,932        1,638,169  

DFS Furniture PLC(a)

     540,225        909,763  

DiscoverIE Group PLC

     54,224        516,919  

Diversified Energy Co. PLC

     3,078,901        3,601,334  

Domino’s Pizza Group PLC

     569,524        2,018,203  

Dunelm Group PLC(a)

     291,004        3,975,922  

EMIS Group PLC

     39,721        736,696  

Empiric Student Property PLC

     1,314,552        1,467,716  

Essentra PLC

     259,911        621,524  

FDM Group Holdings PLC

     173,779        1,557,801  

Fevertree Drinks PLC

     63,664        1,010,731  

Firstgroup PLC

     434,263        557,885  

Forterra PLC(b)

     588,289        1,444,596  

FRP Advisory Group PLC

     234,474        313,109  

Galliford Try Holdings PLC

     231,096        492,613  

Gamma Communications PLC

     38,835        518,589  

Genuit Group PLC

     326,801        1,127,364  

Genus PLC

     24,627        875,135  

Grainger PLC

     487,601        1,404,744  

Great Portland Estates PLC

     191,076        1,197,818  

Greggs PLC

     90,773        3,113,434  

Halfords Group PLC

     352,349        761,537  

Hammerson PLC(a)

     3,266,085        1,053,606  

Headlam Group PLC

     161,094        605,521  

Henry Boot PLC(a)

     98,138        270,594  

Hill & Smith PLC

     73,727        1,223,364  

 

See Notes to Financial Statements.

 

74   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Hilton Food Group PLC

     122,976      $ 1,052,211  

Hunting PLC

     182,447        532,384  

I3 Energy PLC(a)

     2,340,321        530,124  

Ibstock PLC(b)

     1,035,783        2,209,197  

Impax Asset Management Group PLC

     146,918        1,449,621  

IntegraFin Holdings PLC

     460,937        1,550,198  

Jadestone Energy PLC

     749,187        629,906  

James Halstead PLC(a)

     279,793        633,089  

Kainos Group PLC

     75,054        1,282,503  

Keller Group PLC

     109,728        921,221  

Learning Technologies Group PLC

     385,999        615,676  

Liontrust Asset Management PLC

     197,108        2,490,759  

Londonmetric Property PLC

     2,143,761        4,654,547  

Lookers PLC

     700,578        712,907  

ME Group International PLC

     1,004,717        1,559,064  

Mitie Group PLC

     1,138,670        1,151,669  

Moneysupermarket.com Group PLC

     1,040,120        3,202,281  

Morgan Advanced Materials PLC

     362,390        1,268,058  

Morgan Sindall Group PLC

     85,243        1,781,238  

Mortgage Advice Bureau Holdings Ltd.

     78,133        716,828  

NCC Group PLC

     241,611        305,312  

Next Fifteen Communications Group PLC

     56,120        581,485  

Ninety One PLC(a)

     1,378,722        3,157,143  

Oxford Instruments PLC

     22,855        707,890  

Pagegroup PLC

     976,774        5,512,090  

Pan African Resources PLC(a)

     4,220,498        865,217  

PayPoint PLC

     189,204        1,064,433  

Pets at Home Group PLC

     631,136        2,879,558  

Premier Foods PLC

     290,326        437,948  

Primary Health Properties PLC(a)

     2,127,217        2,661,760  

PZ Cussons PLC

     438,857        1,004,941  

Quilter PLC(b)

     2,463,341        2,566,390  

Redde Northgate PLC

     488,663        2,087,537  

Redrow PLC

     779,289        4,588,434  

RWS Holdings PLC

     470,778        1,740,460  

Safestore Holdings PLC

     277,733        3,262,328  

Savills PLC

     160,771        1,970,956  

Serica Energy PLC

     654,770        1,793,243  

Shaftesbury Capital PLC(a)

     577,165        818,540  

Smart Metering Systems PLC

     178,623        1,638,769  

Speedy Hire PLC

     1,367,312        568,891  

Spirent Communications PLC

     435,547        933,276  

SThree PLC

     150,336        774,203  

TBC Bank Group PLC

     113,059        3,131,336  

Telecom Plus PLC

     98,383        2,299,103  

TORM PLC, Class A

     84,248        2,590,148  

TP ICAP Group PLC

     1,219,548        2,715,746  

Travis Perkins PLC

     287,734        3,402,572  

TT Electronics PLC

     302,293        699,698  

Tyman PLC

     393,663        1,170,621  

Vesuvius PLC

     520,611        2,663,670  

Victrex PLC

     83,242        1,639,589  

VIDENDUM PLC

     66,334        725,865  

Virgin Money UK PLC

     1,250,029        2,255,801  

Volution Group PLC

     127,296      677,586  

Watkin Jones PLC

     747,053        820,240  

Wickes Group PLC

     772,040        1,319,242  

Wincanton PLC

     219,248        585,553  

Workspace Group PLC

     322,761        1,743,172  

XPS Pensions Group PLC

     413,555        818,144  
     

 

 

 
Total United Kingdom               168,021,334  
TOTAL COMMON STOCKS
(Cost: $1,158,086,095)
              1,176,197,196  
RIGHTS – 0.0%      
Australia – 0.0%      
Kelsian Group Ltd., expiring 4/5/23*
(Cost: $0)
     30,684        6,165  
EXCHANGE-TRADED FUNDS – 0.3%

 

United States – 0.3%      

WisdomTree Europe SmallCap Dividend Fund(d)

     33,746        1,967,678  

WisdomTree Japan SmallCap Dividend Fund(d)

     24,171        1,615,590  
TOTAL EXCHANGE-TRADED FUNDS
(Cost: $3,107,270)
              3,583,268  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 10.5%

 

United States – 10.5%      

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(e)

 

  
(Cost: $125,225,751)      125,225,751        125,225,751  
TOTAL INVESTMENTS IN SECURITIES – 109.3%

 

  
(Cost: $1,286,419,116)         1,305,012,380  

Other Assets less Liabilities – (9.3)%

        (111,219,745
     

 

 

 
NET ASSETS – 100.0%             $ 1,193,792,635  

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $199,039,176 and the total market value of the collateral held by the Fund was $210,806,832. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $85,581,081.

 

(b) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(c) 

This security is exempt from registration under Regulation S of the Securities Act of 1933, which exempts from registration securities offered and sold outside the United States. This security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933.

 

(d) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

(e) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

See Notes to Financial Statements.

 

WisdomTree Trust      75  


Schedule of Investments (concluded)

WisdomTree International SmallCap Dividend Fund (DLS)

March 31, 2023

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate   Value at
3/31/2022
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2023
    Dividend
Income
 

WisdomTree Europe SmallCap Dividend Fund

  $ 4,449,907     $ 14,067,561     $ 15,129,879     $ (1,759,131   $ 339,220     $ 1,967,678     $ 289,320  

WisdomTree Japan SmallCap Dividend Fund

    3,408,074       11,631,073       13,097,406       (690,829     364,678       1,615,590       154,711  

Total

  $ 7,857,981     $ 25,698,634     $ 28,227,285     $ (2,449,960   $ 703,898     $ 3,583,268     $ 444,031  

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

Deutsche Bank AG

    4/3/2023       2,121,439       NOK       27,000,000       JPY     $     $ (309

HSBC Holdings PLC

    4/3/2023       1,293,876       NOK       100,000       GBP             (102

HSBC Holdings PLC

    4/3/2023       599,944       NOK       449,585       HKD       12        

Royal Bank of Canada

    4/3/2023       368,753       USD       550,000       AUD       390        
                                            $ 402     $ (411

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

           

Investments in Securities

           

Common Stocks

 

Japan

   $ 326,615,122      $ 920,666      $      $ 327,535,788  

Other

     848,661,408                      848,661,408  

Rights

            6,165               6,165  

Exchange-Traded Funds

     3,583,268                      3,583,268  

Investment of Cash Collateral for Securities Loaned

            125,225,751               125,225,751  

Total Investments in Securities

   $ 1,178,859,798      $ 126,152,582      $      $ 1,305,012,380  

Financial Derivative Instruments

        

Foreign Currency Contracts1

   $      $ 402      $      $ 402  

Liabilities:

           

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ (411    $      $ (411

Total – Net

   $ 1,178,859,798      $ 126,152,573      $      $ 1,305,012,371  

 

1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

76   WisdomTree Trust


Schedule of Investments

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.2%

 

Japan – 98.2%

 

Air Freight & Logistics – 1.2%

 

AIT Corp.

     11,000      $ 133,564  

AZ-COM MARUWA Holdings, Inc.(a)

     14,300        213,818  

Hamakyorex Co. Ltd.

     5,800        140,544  

Konoike Transport Co. Ltd.

     13,100        146,562  

Mitsui-Soko Holdings Co. Ltd.

     14,000        412,878  

Sankyu, Inc.

     11,500        423,830  

SBS Holdings, Inc.

     6,100        154,001  

Senko Group Holdings Co. Ltd.

     59,056        419,324  

Shibusawa Warehouse Co. Ltd.(a)

     9,000        150,259  

Trancom Co. Ltd.(a)

     1,300        72,282  
     

 

 

 
Total Air Freight & Logistics

 

     2,267,062  
Automobile Components – 4.7%

 

Aisan Industry Co. Ltd.

     21,600        145,904  

Daido Metal Co. Ltd.(a)

     32,400        124,400  

Daikyonishikawa Corp.(a)

     26,800        129,882  

Eagle Industry Co. Ltd.

     29,800        266,004  

Exedy Corp.

     33,125        451,241  

Fujikura Composites, Inc.(a)

     12,000        98,820  

FuKoKu Co. Ltd.

     14,200        109,682  

Futaba Industrial Co. Ltd.

     30,800        98,586  

G-Tekt Corp.(a)

     15,500        166,774  

H-One Co. Ltd.

     100        474  

KYB Corp.

     12,600        380,585  

Musashi Seimitsu Industry Co. Ltd.(a)

     18,200        255,312  

NHK Spring Co. Ltd.

     113,800        809,742  

Nihon Tokushu Toryo Co. Ltd.(a)

     15,100        106,877  

NOK Corp.(a)

     66,300        728,807  

Pacific Industrial Co. Ltd.

     18,300        158,676  

Piolax, Inc.(a)

     14,400        208,821  

Press Kogyo Co. Ltd.

     72,300        270,534  

Riken Corp.

     9,600        187,037  

Seiren Co. Ltd.(a)

     9,711        170,156  

Shoei Co. Ltd.

     13,200        275,128  

Sumitomo Riko Co. Ltd.

     21,300        110,269  

Sumitomo Rubber Industries Ltd.

     79,700        716,216  

Suncall Corp.(a)

     15,400        68,617  

T RAD Co. Ltd.*(a)

     5,000        88,136  

Tachi-S Co. Ltd.(a)

     19,500        175,821  

Tokai Rika Co. Ltd.(a)

     33,158        405,350  

Topre Corp.(a)

     6,000        55,316  

Toyo Tire Corp.(a)

     65,100        755,726  

Toyoda Gosei Co. Ltd.(a)

     26,900        460,831  

TPR Co. Ltd.

     13,100        131,797  

TS Tech Co. Ltd.

     43,700        551,298  
     

 

 

 
Total Automobile Components

 

     8,662,819  
Automobiles – 0.1%

 

Nissan Shatai Co. Ltd.(a)

     20,100        127,768  
Banks – 7.7%

 

77 Bank Ltd.(a)

     40,900        664,406  

Akita Bank Ltd.

     10,700        141,820  

Aozora Bank Ltd.(a)

     59,400      1,070,709  

Awa Bank Ltd.(a)

     8,275        121,243  

Bank of Iwate Ltd.

     11,400        181,934  

Bank of Nagoya Ltd.

     9,769        231,582  

Bank of Saga Ltd.(a)

     12,800        155,804  

Bank of the Ryukyus Ltd.(a)

     24,408        169,823  

Daishi Hokuetsu Financial Group, Inc.

     17,555        381,200  

Ehime Bank Ltd.(a)

     16,799        106,280  

FIDEA Holdings Co. Ltd.

     16,180        162,055  

First Bank of Toyama Ltd.(a)

     33,400        147,814  

Fukui Bank Ltd.

     48        537  

Gunma Bank Ltd.

     119,100        396,433  

Hachijuni Bank Ltd.

     162,800        703,359  

Hirogin Holdings, Inc.(a)

     108,900        512,220  

Hokkoku Financial Holdings, Inc.(a)

     4,462        138,631  

Hokuhoku Financial Group, Inc.(a)

     31,800        221,016  

Hyakugo Bank Ltd.(a)

     75,800        211,299  

Hyakujushi Bank Ltd.

     15,500        213,942  

Juroku Financial Group, Inc.

     14,900        316,159  

Keiyo Bank Ltd.(a)

     48,742        207,288  

Kiyo Bank Ltd.(a)

     17,190        191,675  

Kyushu Financial Group, Inc.(a)

     124,000        444,421  

Mebuki Financial Group, Inc.

     327,300        796,793  

Miyazaki Bank Ltd.

     6,100        107,251  

Musashino Bank Ltd.(a)

     13,200        220,380  

Nanto Bank Ltd.(a)

     10,500        183,350  

Nishi-Nippon Financial Holdings, Inc.

     61,500        502,758  

North Pacific Bank Ltd.

     114,915        240,036  

Ogaki Kyoritsu Bank Ltd.(a)

     11,242        150,862  

Oita Bank Ltd.(a)

     7,300        112,223  

Okinawa Financial Group, Inc.

     4,780        74,776  

Procrea Holdings, Inc.(a)

     5,462        86,389  

San ju San Financial Group, Inc.

     17,700        209,995  

San-In Godo Bank Ltd.

     102,200        567,479  

Senshu Ikeda Holdings, Inc.

     185,540        323,430  

Seven Bank Ltd.(a)

     582,500        1,159,835  

Shiga Bank Ltd.(a)

     25,684        516,999  

Shikoku Bank Ltd.(a)

     23,300        152,486  

Suruga Bank Ltd.

     30,300        105,637  

Toho Bank Ltd.(a)

     114,600        186,853  

Tokyo Kiraboshi Financial Group, Inc.(a)

     16,300        321,493  

TOMONY Holdings, Inc.(a)

     43,477        115,316  

Towa Bank Ltd.(a)

     27,400        111,996  

Yamagata Bank Ltd.(a)

     14,600        111,126  

Yamaguchi Financial Group, Inc.(a)

     63,500        387,422  

Yamanashi Chuo Bank Ltd.(a)

     16,700        143,297  
     

 

 

 
Total Banks

 

     13,979,832  
Beverages – 0.8%

 

Coca-Cola Bottlers Japan Holdings, Inc.

     65,900        715,497  

Sapporo Holdings Ltd.

     7,698        196,947  

Takara Holdings, Inc.(a)

     59,911        460,058  
     

 

 

 
Total Beverages

 

     1,372,502  

 

See Notes to Financial Statements.

 

WisdomTree Trust      77  


Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2023

 

 

 

Investments    Shares      Value  
Biotechnology – 0.1%

 

Takara Bio, Inc.

     20,500      $ 266,936  
Broadline Retail – 1.1%

 

ASKUL Corp.

     16,030        207,526  

Belluna Co. Ltd.(a)

     18,284        96,441  

Izumi Co. Ltd.

     16,200        382,816  

J. Front Retailing Co. Ltd.

     57,200        568,175  

Mr. Max Holdings Ltd.

     100        510  

Seria Co. Ltd.

     18,800        370,378  

Takashimaya Co. Ltd.(a)

     20,300        294,837  
     

 

 

 
Total Broadline Retail

 

     1,920,683  
Building Products – 1.6%

 

Bunka Shutter Co. Ltd.(a)

     21,700        180,331  

Central Glass Co. Ltd.

     9,986        220,369  

Nichias Corp.

     29,513        590,083  

Nichiha Corp.

     10,900        221,047  

Nitto Boseki Co. Ltd.(a)

     6,500        98,411  

Noritz Corp.

     9,700        126,598  

Okabe Co. Ltd.

     22,600        130,414  

Sanwa Holdings Corp.

     59,300        630,917  

Shin Nippon Air Technologies Co. Ltd.(a)

     6,900        96,690  

Sinko Industries Ltd.(a)

     8,400        104,392  

Takara Standard Co. Ltd.

     23,631        260,830  

Takasago Thermal Engineering Co. Ltd.

     16,072        254,684  
     

 

 

 
Total Building Products

 

     2,914,766  
Capital Markets – 1.2%

 

Ichiyoshi Securities Co. Ltd.(a)

     29,188        132,683  

IwaiCosmo Holdings, Inc.(a)

     19,400        195,326  

Marusan Securities Co. Ltd.(a)

     28,300        90,796  

Matsui Securities Co. Ltd.(a)

     115,400        678,925  

Monex Group, Inc.(a)

     73,594        263,764  

Okasan Securities Group, Inc.(a)

     43,300        153,237  

SBI Global Asset Management Co. Ltd.

     42,244        152,674  

Sparx Group Co. Ltd.(a)

     16,900        183,870  

Tokai Tokyo Financial Holdings, Inc.(a)

     100,700        276,927  
     

 

 

 
Total Capital Markets

 

     2,128,202  
Chemicals – 9.9%

 

ADEKA Corp.(a)

     30,725        521,279  

Aica Kogyo Co. Ltd.(a)

     20,415        465,546  

Asahi Yukizai Corp.(a)

     6,700        159,332  

C. Uyemura & Co. Ltd.(a)

     6,600        321,346  

Chugoku Marine Paints Ltd.

     18,600        153,032  

CI Takiron Corp.(a)

     24,400        90,384  

Daicel Corp.

     99,700        749,117  

Dainichiseika Color & Chemicals Manufacturing Co. Ltd.

     7,642        102,380  

Denka Co. Ltd.

     33,500        688,425  

DIC Corp.

     31,600        565,091  

DKS Co. Ltd.(a)

     5,500        77,898  

Fujimi, Inc.(a)

     11,100        608,836  

Fujimori Kogyo Co. Ltd.

     5,100        122,049  

Fuso Chemical Co. Ltd.(a)

     5,900        166,906  

Harima Chemicals Group, Inc.(a)

     13,900      91,594  

Ishihara Sangyo Kaisha Ltd.

     18,600        155,827  

JCU Corp.

     5,400        139,778  

JSP Corp.

     10,023        116,806  

Kaneka Corp.

     17,600        456,233  

Kanto Denka Kogyo Co. Ltd.

     12,500        96,833  

KeePer Technical Laboratory Co. Ltd.

     2,100        77,711  

KH Neochem Co. Ltd.

     15,000        270,268  

Konishi Co. Ltd.(a)

     11,400        164,032  

Kumiai Chemical Industry Co. Ltd.

     30,724        196,224  

Kureha Corp.(a)

     4,764        302,471  

Lintec Corp.

     40,665        661,505  

MEC Co. Ltd.(a)

     3,300        63,501  

Moriroku Holdings Co. Ltd.(a)

     9,500        131,411  

Nihon Nohyaku Co. Ltd.(a)

     19,600        99,259  

Nihon Parkerizing Co. Ltd.

     50,800        378,643  

Nippon Chemical Industrial Co. Ltd.

     5,800        86,331  

Nippon Kayaku Co. Ltd.

     81,300        731,205  

Nippon Pillar Packing Co. Ltd.(a)

     14,700        414,193  

Nippon Shokubai Co. Ltd.

     17,900        710,136  

Nippon Soda Co. Ltd.

     16,518        572,775  

Osaka Organic Chemical Industry Ltd.

     5,600        90,718  

Osaka Soda Co. Ltd.(a)

     7,800        255,233  

Riken Technos Corp.

     23,000        101,788  

Sakai Chemical Industry Co. Ltd.(a)

     10,300        136,983  

Sakata INX Corp.

     12,500        97,209  

Sanyo Chemical Industries Ltd.

     7,435        238,541  

Shikoku Kasei Holdings Corp.(a)

     10,300        108,580  

Shin-Etsu Polymer Co. Ltd.

     25,900        290,156  

Sumitomo Bakelite Co. Ltd.

     12,718        493,086  

T Hasegawa Co. Ltd.(a)

     10,500        234,394  

Taiyo Holdings Co. Ltd.(a)

     21,282        399,767  

Takasago International Corp.(a)

     6,900        135,677  

Tayca Corp.

     100        882  

Teijin Ltd.

     63,400        665,012  

Toagosei Co. Ltd.

     51,000        472,102  

Tokai Carbon Co. Ltd.

     60,100        568,983  

Tokuyama Corp.

     17,900        283,113  

Tokyo Ohka Kogyo Co. Ltd.

     14,700        849,373  

Toyo Ink SC Holdings Co. Ltd.

     23,302        359,974  

Toyobo Co. Ltd.(a)

     22,353        174,504  

UBE Corp.

     41,793        645,312  

Valqua Ltd.

     12,637        327,105  

Zeon Corp.(a)

     49,100        516,124  
     

 

 

 
Total Chemicals

 

     18,152,973  
Commercial Services & Supplies – 1.5%

 

Aeon Delight Co. Ltd.

     9,400        214,712  

Daiseki Co. Ltd.

     5,288        166,678  

Inui Global Logistics Co. Ltd.(a)

     28,800        387,996  

Japan Elevator Service Holdings Co. Ltd.(a)

     6,100        98,451  

Kokuyo Co. Ltd.

     28,800        406,389  

Matsuda Sangyo Co. Ltd.(a)

     4,700        80,199  

Mitsubishi Pencil Co. Ltd.

     10,900        133,168  

Nippon Kanzai Co. Ltd.*(a)

     10,600        214,485  

 

See Notes to Financial Statements.

 

78   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2023

 

 

 

Investments    Shares      Value  

Nippon Parking Development Co. Ltd.

     80,600      $ 141,106  

Okamura Corp.(a)

     22,576        231,375  

Pilot Corp.

     6,400        206,777  

Prestige International, Inc.

     15,800        70,755  

Sato Holdings Corp.(a)

     10,638        174,969  

Studio Alice Co. Ltd.(a)

     6,300        101,442  

TRE Holdings Corp.(a)

     9,500        102,074  
     

 

 

 
Total Commercial Services & Supplies

 

     2,730,576  
Construction & Engineering – 5.4%

 

Asanuma Corp.

     11,700        273,841  

CTI Engineering Co. Ltd.

     3,500        79,420  

Dai-Dan Co. Ltd.(a)

     5,400        96,120  

Daiho Corp.(a)

     12,000        331,805  

EXEO Group, Inc.

     40,700        733,022  

Fudo Tetra Corp.

     11,900        145,833  

Hazama Ando Corp.(a)

     59,300        381,402  

INFRONEER Holdings, Inc.

     78,573        603,363  

JDC Corp.

     23,600        107,103  

Kandenko Co. Ltd.

     35,238        247,558  

Kumagai Gumi Co. Ltd.

     10,800        215,773  

Kyudenko Corp.

     14,990        379,002  

MIRAIT ONE Corp.

     28,200        349,401  

Nippon Koei Co. Ltd.

     6,600        167,120  

Nippon Road Co. Ltd.

     2,100        115,185  

Nishimatsu Construction Co. Ltd.(a)

     28,807        741,333  

Nittoc Construction Co. Ltd.

     25,800        188,426  

Okumura Corp.(a)

     14,170        333,249  

Oriental Shiraishi Corp.

     70,000        171,463  

Penta-Ocean Construction Co. Ltd.

     61,893        293,909  

PS Mitsubishi Construction Co. Ltd.(a)

     26,400        129,729  

Raito Kogyo Co. Ltd.

     17,100        250,673  

Raiznext Corp.

     15,500        169,453  

Sanki Engineering Co. Ltd.(a)

     35,500        390,503  

Shinnihon Corp.(a)

     26,100        183,557  

Sumitomo Mitsui Construction Co. Ltd.(a)

     46,960        135,492  

Taihei Dengyo Kaisha Ltd.(a)

     6,900        210,230  

Taikisha Ltd.(a)

     9,565        264,477  

Takamatsu Construction Group Co. Ltd.(a)

     5,900        89,947  

Tekken Corp.

     10,500        142,719  

Tess Holdings Co. Ltd.

     6,300        51,265  

Toa Corp.(a)

     5,700        113,666  

Tobishima Corp.

     17,100        135,423  

Toda Corp.

     85,149        442,091  

Tokyo Energy & Systems, Inc.

     12,200        81,767  

Tokyu Construction Co. Ltd.

     19,700        99,914  

Totetsu Kogyo Co. Ltd.(a)

     10,779        219,403  

Toyo Construction Co. Ltd.

     22,900        157,611  

Wakachiku Construction Co. Ltd.(a)

     5,200        149,252  

Yokogawa Bridge Holdings Corp.

     14,900        242,269  

Yondenko Corp.(a)

     7,200        102,247  

Yurtec Corp.

     15,100        94,056  
     

 

 

 
Total Construction & Engineering

 

     9,810,072  
Construction Materials – 0.6%

 

Sumitomo Osaka Cement Co. Ltd.(a)

     10,740      301,001  

Taiheiyo Cement Corp.

     33,800        631,607  

Yotai Refractories Co. Ltd.

     10,600        120,902  
     

 

 

 
Total Construction Materials

 

     1,053,510  
Consumer Finance – 0.0%

 

J Trust Co. Ltd.(a)

     16,900        50,158  
Consumer Staples Distribution & Retail – 1.9%

 

Aeon Hokkaido Corp.(a)

     12,600        76,117  

Ain Holdings, Inc.

     2,500        104,253  

Arcs Co. Ltd.(a)

     22,294        376,061  

Belc Co. Ltd.

     2,400        100,984  

Create SD Holdings Co. Ltd.

     9,500        239,838  

Fuji Co. Ltd.(a)

     10,800        140,224  

G-7 Holdings, Inc.(a)

     10,200        110,821  

H2O Retailing Corp.(a)

     23,000        257,322  

Heiwado Co. Ltd.

     7,263        111,054  

Kato Sangyo Co. Ltd.

     12,116        319,537  

Life Corp.

     12,400        240,472  

Mitsubishi Shokuhin Co. Ltd.

     16,100        393,155  

Qol Holdings Co. Ltd.(a)

     12,500        109,043  

San-A Co. Ltd.(a)

     3,400        104,230  

United Super Markets Holdings, Inc.

     22,100        184,983  

Valor Holdings Co. Ltd.

     16,891        244,436  

Yaoko Co. Ltd.(a)

     4,500        233,301  

Yokorei Co. Ltd.(a)

     11,800        85,027  
     

 

 

 
Total Consumer Staples Distribution & Retail

 

     3,430,858  
Containers & Packaging – 0.5%

 

FP Corp.(a)

     9,500        234,127  

Fuji Seal International, Inc.

     9,810        111,301  

Pack Corp.

     5,300        117,676  

Rengo Co. Ltd.(a)

     62,600        404,038  

Tomoku Co. Ltd.(a)

     10,100        121,346  
     

 

 

 
Total Containers & Packaging

 

     988,488  
Distributors – 0.4%

 

Arata Corp.

     4,000        121,872  

Doshisha Co. Ltd.

     4,800        69,896  

Happinet Corp.(a)

     9,500        132,910  

PALTAC Corp.(a)

     10,400        392,276  

Yamae Group Holdings Co. Ltd.

     100        1,361  
     

 

 

 
Total Distributors

 

     718,315  
Diversified Consumer Services – 0.4%

 

Asante, Inc.

     100        1,240  

Aucnet, Inc.(a)

     7,200        86,504  

Benesse Holdings, Inc.

     20,900        304,651  

Riso Kyoiku Co. Ltd.

     74,300        183,670  

Tokyo Individualized Educational Institute, Inc.

     29,500        119,029  
     

 

 

 
Total Diversified Consumer Services

 

     695,094  
Diversified Telecommunication Services – 0.1%

 

ARTERIA Networks Corp.

     18,300        175,314  

Usen-Next Holdings Co. Ltd.

     4,000        76,970  
     

 

 

 
Total Diversified Telecommunication Services

 

     252,284  

 

See Notes to Financial Statements.

 

WisdomTree Trust      79  


Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2023

 

 

 

Investments    Shares      Value  
Electrical Equipment – 1.5%

 

Daihen Corp.

     6,500      $ 216,602  

Fujikura Ltd.

     36,700        258,657  

Furukawa Electric Co. Ltd.(a)

     14,800        273,670  

GS Yuasa Corp.(a)

     12,200        218,352  

Idec Corp.

     10,536        271,930  

Mabuchi Motor Co. Ltd.

     15,700        454,756  

Nippon Carbon Co. Ltd.

     5,400        166,354  

Nitto Kogyo Corp.(a)

     13,100        260,051  

Sanyo Denki Co. Ltd.

     1,800        83,177  

Sinfonia Technology Co. Ltd.(a)

     12,700        150,388  

SWCC Showa Holdings Co. Ltd.(a)

     6,600        93,974  

Takaoka Toko Co. Ltd.(a)

     7,000        123,653  

Toyo Tanso Co. Ltd.

     4,800        148,050  
     

 

 

 
Total Electrical Equipment

 

     2,719,614  
Electronic Equipment, Instruments & Components – 7.1%

 

Ai Holdings Corp.

     20,100        346,000  

Alps Alpine Co. Ltd.(a)

     49,200        469,117  

Amano Corp.

     19,435        364,342  

Anritsu Corp.

     26,400        242,200  

Canon Electronics, Inc.

     8,800        122,125  

Citizen Watch Co. Ltd.(a)

     136,100        795,595  

Daishinku Corp.(a)

     13,900        75,928  

Daitron Co. Ltd.

     7,900        158,309  

Daiwabo Holdings Co. Ltd.

     26,895        441,143  

Dexerials Corp.(a)

     15,600        315,071  

Elematec Corp.

     24,154        336,294  

ESPEC Corp.

     6,400        97,859  

Hakuto Co. Ltd.(a)

     14,834        547,818  

Hioki EE Corp.(a)

     3,000        194,755  

Hochiki Corp.

     8,900        103,518  

Horiba Ltd.

     12,100        719,145  

I-PEX, Inc.

     8,800        93,098  

Innotech Corp.

     14,600        151,715  

Iriso Electronics Co. Ltd.

     3,400        125,434  

Japan Aviation Electronics Industry Ltd.(a)

     22,900        395,403  

Kaga Electronics Co. Ltd.

     12,800        481,839  

Koa Corp.(a)

     10,000        138,403  

Kyosan Electric Manufacturing Co. Ltd.(a)

     34,100        108,893  

Macnica Holdings, Inc.

     22,300        630,010  

Marubun Corp.(a)

     14,700        150,877  

Maruwa Co. Ltd.(a)

     700        96,566  

Maxell Ltd.(a)

     13,800        159,578  

Meiko Electronics Co. Ltd.(a)

     4,500        98,798  

Nichicon Corp.

     20,700        214,637  

Nippon Ceramic Co. Ltd.

     9,200        186,917  

Nippon Electric Glass Co. Ltd.

     58,300        1,116,588  

Nippon Signal Co. Ltd.(a)

     14,800        118,098  

Nissha Co. Ltd.

     8,500        118,728  

Nohmi Bosai Ltd.(a)

     12,391        157,436  

Oki Electric Industry Co. Ltd.

     31,100        167,780  

Optex Group Co. Ltd.

     7,400        115,429  

Osaki Electric Co. Ltd.(a)

     30,800        123,117  

Restar Holdings Corp.(a)

     12,100        196,742  

Riken Keiki Co. Ltd.

     4,900      209,122  

Ryoden Corp.(a)

     13,861        194,756  

Ryosan Co. Ltd.(a)

     11,000        271,095  

Sanshin Electronics Co. Ltd.(a)

     8,700        157,409  

Satori Electric Co. Ltd.

     12,900        166,714  

Shibaura Electronics Co. Ltd.

     2,300        101,615  

Siix Corp.

     12,100        128,191  

Sumida Corp.

     1,000        12,495  

Suzuden Corp.

     7,600        149,442  

Tachibana Eletech Co. Ltd.

     10,300        153,931  

Tokyo Electron Device Ltd.(a)

     3,100        204,275  

Tomen Devices Corp.(a)

     3,400        167,586  

Topcon Corp.

     26,700        357,498  

Tsuzuki Denki Co. Ltd.(a)

     11,300        132,706  

Yokowo Co. Ltd.(a)

     4,800        75,378  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     12,957,518  
Energy Equipment & Services – 0.1%

 

Toyo Kanetsu KK(a)

     5,500        108,355  
Entertainment – 0.9%

 

Amuse, Inc.

     7,800        104,203  

COLOPL, Inc.(a)

     33,900        152,320  

Daiichikosho Co. Ltd.(a)

     25,600        420,095  

GungHo Online Entertainment, Inc.

     10,400        189,261  

Marvelous, Inc.

     23,500        116,538  

MIXI, Inc.

     30,700        614,046  
     

 

 

 
Total Entertainment

 

     1,596,463  
Financial Services – 0.3%

 

eGuarantee, Inc.

     5,200        84,980  

Financial Partners Group Co. Ltd.(a)

     46,000        399,204  

Japan Investment Adviser Co. Ltd.

     10,700        85,140  
     

 

 

 
Total Financial Services

 

     569,324  
Food Products – 3.6%

 

Ariake Japan Co. Ltd.(a)

     5,028        184,361  

Chubu Shiryo Co. Ltd.(a)

     13,000        101,976  

DyDo Group Holdings, Inc.(a)

     2,400        87,820  

Ezaki Glico Co. Ltd.

     11,400        285,664  

Fuji Oil Holdings, Inc.(a)

     15,800        228,292  

Fujicco Co. Ltd.(a)

     9,600        133,732  

Fujiya Co. Ltd.

     5,200        96,467  

Hokuto Corp.(a)

     6,391        89,077  

House Foods Group, Inc.

     14,900        314,592  

Itoham Yonekyu Holdings, Inc.(a)

     64,900        341,348  

J-Oil Mills, Inc.(a)

     10,500        119,998  

Kagome Co. Ltd.

     10,000        232,174  

Kotobuki Spirits Co. Ltd.

     1,500        105,605  

Kyokuyo Co. Ltd.(a)

     4,300        110,658  

Marudai Food Co. Ltd.(a)

     9,000        98,324  

Maruha Nichiro Corp.

     15,732        280,738  

Megmilk Snow Brand Co. Ltd.

     21,700        287,453  

Mitsui DM Sugar Holdings Co. Ltd.(a)

     10,398        158,990  

Morinaga & Co. Ltd.

     15,987        451,057  

Morinaga Milk Industry Co. Ltd.(a)

     7,900        283,139  

 

See Notes to Financial Statements.

 

80   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2023

 

 

 

Investments    Shares      Value  

Nichirei Corp.(a)

     25,700      $ 518,287  

Nippn Corp.

     27,383        341,542  

Nisshin Oillio Group Ltd.

     9,200        224,660  

Nissui Corp.

     79,600        324,764  

Prima Meat Packers Ltd.

     15,200        251,373  

Riken Vitamin Co. Ltd.(a)

     11,600        167,607  

S Foods, Inc.

     11,300        241,894  

Sakata Seed Corp.

     5,600        164,520  

Showa Sangyo Co. Ltd.(a)

     8,700        165,842  

Starzen Co. Ltd.

     100        1,635  

Warabeya Nichiyo Holdings Co. Ltd.

     6,500        88,399  

Yukiguni Maitake Co. Ltd.

     15,100        113,684  
     

 

 

 
Total Food Products

 

     6,595,672  
Gas Utilities – 0.7%

 

Hokkaido Gas Co. Ltd.

     7,900        115,333  

Nippon Gas Co. Ltd.

     39,000        563,799  

Saibu Gas Holdings Co. Ltd.

     14,200        185,115  

Shizuoka Gas Co. Ltd.(a)

     11,192        96,624  

Toho Gas Co. Ltd.

     18,200        336,814  
     

 

 

 
Total Gas Utilities

 

     1,297,685  
Ground Transportation – 1.0%

 

Alps Logistics Co. Ltd.(a)

     10,200        100,168  

Fukuyama Transporting Co. Ltd.

     7,711        207,998  

Ichinen Holdings Co. Ltd.

     12,000        114,058  

Maruzen Showa Unyu Co. Ltd.

     5,100        123,390  

Nikkon Holdings Co. Ltd.(a)

     17,460        324,694  

Nishi-Nippon Railroad Co. Ltd.(a)

     10,700        192,309  

Sakai Moving Service Co. Ltd.

     4,600        160,027  

Seino Holdings Co. Ltd.

     34,900        382,854  

Sotetsu Holdings, Inc.(a)

     9,900        168,707  
     

 

 

 
Total Ground Transportation

 

     1,774,205  
Health Care Equipment & Supplies – 1.7%

 

Eiken Chemical Co. Ltd.

     16,270        191,074  

Hogy Medical Co. Ltd.(a)

     8,600        205,162  

Japan Lifeline Co. Ltd.

     18,900        130,080  

Jeol Ltd.

     5,400        172,237  

Mani, Inc.(a)

     12,700        172,336  

Menicon Co. Ltd.(a)

     5,300        111,782  

Mizuho Medy Co. Ltd.

     7,100        124,353  

Nagaileben Co. Ltd.

     11,026        169,006  

Nakanishi, Inc.

     16,200        319,764  

Nihon Kohden Corp.

     12,500        337,178  

Nipro Corp.(a)

     30,900        236,585  

Paramount Bed Holdings Co. Ltd.

     15,442        273,591  

PHC Holdings Corp.(a)

     53,200        572,413  
     

 

 

 
Total Health Care Equipment & Supplies

 

     3,015,561  
Health Care Providers & Services – 1.1%

 

As One Corp.(a)

     5,600        236,051  

BML, Inc.(a)

     11,800        273,522  

France Bed Holdings Co. Ltd.

     13,900        110,498  

H.U. Group Holdings, Inc.

     31,100        622,981  

Ship Healthcare Holdings, Inc.(a)

     11,914        218,156  

Solasto Corp.

     16,700      79,554  

Toho Holdings Co. Ltd.(a)

     10,000        176,572  

Tokai Corp.

     8,800        130,853  

Vital KSK Holdings, Inc.

     21,100        141,734  
     

 

 

 
Total Health Care Providers & Services

 

     1,989,921  
Health Care Technology – 0.0%

 

EM Systems Co. Ltd.(a)

     10,900        69,041  
Hotels, Restaurants & Leisure – 1.8%

 

Arcland Service Holdings Co. Ltd.(a)

     4,800        80,968  

Create Restaurants Holdings, Inc.(a)

     18,000        136,599  

Doutor Nichires Holdings Co. Ltd.

     11,200        159,303  

Food & Life Cos. Ltd.

     9,400        242,963  

Heiwa Corp.

     26,600        525,444  

Hiday Hidaka Corp.

     98        1,581  

Ichibanya Co. Ltd.

     7,336        277,808  

KFC Holdings Japan Ltd.(a)

     5,800        123,286  

KOMEDA Holdings Co. Ltd.

     13,800        243,981  

Kura Sushi, Inc.(a)

     2,100        51,439  

Kyoritsu Maintenance Co. Ltd.(a)

     2,000        80,397  

MOS Food Services, Inc.(a)

     4,100        92,573  

Ohsho Food Service Corp.(a)

     5,500        248,779  

Resorttrust, Inc.

     22,108        350,332  

Round One Corp.(a)

     44,400        170,474  

Saizeriya Co. Ltd.

     3,600        89,128  

St. Marc Holdings Co. Ltd.(a)

     10,900        141,932  

Tokyotokeiba Co. Ltd.

     6,342        192,752  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     3,209,739  
Household Durables – 2.0%

 

Casio Computer Co. Ltd.(a)

     73,600        717,806  

Cleanup Corp.

     29,300        152,125  

ES-Con Japan Ltd.

     38,900        253,994  

Fuji Corp. Ltd.

     22,000        112,240  

Hoosiers Holdings Co. Ltd.

     20,400        126,609  

JVCKenwood Corp.(a)

     43,900        125,674  

Ki-Star Real Estate Co. Ltd.(a)

     8,400        261,612  

Pressance Corp.

     13,588        182,038  

Sanei Architecture Planning Co. Ltd.

     14,900        175,880  

Sangetsu Corp.

     34,200        574,069  

Tama Home Co. Ltd.(a)

     12,800        352,002  

Tamron Co. Ltd.(a)

     9,366        221,324  

Token Corp.

     3,700        220,738  

Zojirushi Corp.(a)

     14,300        171,377  
     

 

 

 
Total Household Durables

 

     3,647,488  
Household Products – 0.4%

 

Earth Corp.

     5,400        192,118  

Pigeon Corp.

     38,100        586,572  
     

 

 

 
Total Household Products

 

     778,690  
Independent Power & Renewable Electricity Producers – 0.1%

 

eRex Co. Ltd.(a)

     4,600        63,285  

West Holdings Corp.(a)

     5,247        127,735  
     

 

 

 
Total Independent Power & Renewable Electricity Producers

 

     191,020  

 

See Notes to Financial Statements.

 

WisdomTree Trust      81  


Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2023

 

 

 

Investments    Shares      Value  
Industrial Conglomerates – 0.5%

 

Mie Kotsu Group Holdings, Inc.(a)

     23,700      $ 99,544  

Nisshinbo Holdings, Inc.

     56,300        428,098  

Noritsu Koki Co. Ltd.

     4,800        80,752  

TOKAI Holdings Corp.(a)

     54,200        355,523  
     

 

 

 
Total Industrial Conglomerates

 

     963,917  
Interactive Media & Services – 0.1%

 

Infocom Corp.(a)

     9,700        170,546  
IT Services – 2.0%

 

Comture Corp.(a)

     5,100        79,437  

Digital Garage, Inc.(a)

     4,600        150,522  

DTS Corp.

     15,182        367,316  

Future Corp.

     22,300        304,784  

I-Net Corp.(a)

     13,800        132,100  

Ines Corp.

     100        1,031  

Information Services International-Dentsu Ltd.

     13,800        539,184  

JBCC Holdings, Inc.

     8,900        145,045  

Mitsubishi Research Institute, Inc.(a)

     3,600        137,952  

NEC Networks & System Integration Corp.

     35,237        427,588  

NET One Systems Co. Ltd.

     16,200        385,251  

NSD Co. Ltd.

     27,200        487,225  

SB Technology Corp.(a)

     3,500        52,202  

Simplex Holdings, Inc.

     6,000        109,820  

TDC Soft, Inc.(a)

     10,100        112,846  

Uchida Yoko Co. Ltd.

     3,300        121,869  
     

 

 

 
Total IT Services

 

     3,554,172  
Leisure Products – 1.0%

 

Furyu Corp.

     8,800        79,081  

GLOBERIDE, Inc.(a)

     5,800        107,772  

Mizuno Corp.

     8,623        201,175  

Roland Corp.

     7,600        227,560  

Sankyo Co. Ltd.

     19,100        793,621  

Tomy Co. Ltd.

     25,100        279,308  

Yonex Co. Ltd.

     6,600        71,113  
     

 

 

 
Total Leisure Products

 

     1,759,630  
Life Sciences Tools & Services – 0.1%

 

Shin Nippon Biomedical Laboratories Ltd.

     8,400        173,567  
Machinery – 5.9%

 

Aichi Corp.

     23,000        137,561  

Aida Engineering Ltd.

     17,100        104,972  

Anest Iwata Corp.

     18,000        135,653  

Asahi Diamond Industrial Co. Ltd.(a)

     20,600        144,876  

Bando Chemical Industries Ltd.

     23,100        183,634  

CKD Corp.

     22,541        364,138  

DMG Mori Co. Ltd.

     37,200        622,748  

Fujitec Co. Ltd.(a)

     15,861        391,490  

Fukushima Galilei Co. Ltd.

     2,600        93,283  

Furukawa Co. Ltd.

     4,300        41,259  

Giken Ltd.(a)

     5,600        116,763  

Glory Ltd.(a)

     10,500        228,398  

Hitachi Zosen Corp.

     24,000        156,165  

Hokuetsu Industries Co. Ltd.(a)

     12,500        131,302  

Hosokawa Micron Corp.

     4,600      100,233  

Japan Steel Works Ltd.(a)

     11,104        206,829  

Juki Corp.

     11,600        54,387  

Kitz Corp.

     37,189        259,309  

Kyokuto Kaihatsu Kogyo Co. Ltd.(a)

     13,580        164,891  

Makino Milling Machine Co. Ltd.(a)

     5,000        182,395  

Max Co. Ltd.

     15,700        250,086  

Meidensha Corp.(a)

     9,900        142,895  

METAWATER Co. Ltd.(a)

     11,600        150,524  

Mitsuboshi Belting Ltd.(a)

     25,246        746,435  

Morita Holdings Corp.

     10,805        107,977  

Nachi-Fujikoshi Corp.(a)

     8,400        249,305  

Nikkiso Co. Ltd.

     12,300        86,874  

Nikko Co. Ltd.(a)

     32,500        154,820  

Nippon Thompson Co. Ltd.

     24,800        108,264  

Nissei ASB Machine Co. Ltd.(a)

     3,300        97,197  

Nitta Corp.

     12,300        270,879  

Nitto Kohki Co. Ltd.

     9,000        122,398  

Noritake Co. Ltd.

     6,400        220,723  

NTN Corp.

     38,500        97,487  

Obara Group, Inc.

     4,979        147,960  

Oiles Corp.(a)

     6,800        85,837  

OKUMA Corp.(a)

     6,370        282,866  

Organo Corp.(a)

     9,700        262,743  

OSG Corp.

     26,100        389,862  

Ryobi Ltd.

     8,400        97,134  

Shibaura Machine Co. Ltd.

     5,761        136,352  

Shibuya Corp.

     6,600        123,827  

Shinmaywa Industries Ltd.(a)

     16,785        148,819  

Shinwa Co. Ltd.

     7,500        119,130  

Sodick Co. Ltd.

     24,400        139,334  

Star Micronics Co. Ltd.

     16,634        225,345  

Takeuchi Manufacturing Co. Ltd.

     12,200        268,768  

Takuma Co. Ltd.

     18,300        182,464  

Teikoku Electric Manufacturing Co. Ltd.

     7,100        130,808  

Tocalo Co. Ltd.

     30,300        295,054  

Torishima Pump Manufacturing Co. Ltd.(a)

     14,200        167,404  

Tsubakimoto Chain Co.

     17,345        418,996  

Tsugami Corp.

     16,300        175,627  

Union Tool Co.

     5,600        138,643  

YAMABIKO Corp.

     20,800        205,671  
     

 

 

 
Total Machinery

 

     10,768,794  
Marine Transportation – 0.5%

 

Iino Kaiun Kaisha Ltd.

     68,300        515,239  

NS United Kaiun Kaisha Ltd.(a)

     15,400        476,152  
     

 

 

 
Total Marine Transportation

 

     991,391  
Media – 0.8%

 

Carta Holdings, Inc.

     6,500        70,084  

Digital Holdings, Inc.(a)

     17,300        149,095  

FAN Communications, Inc.(a)

     28,800        87,424  

Gakken Holdings Co. Ltd.

     10,400        66,499  

Intage Holdings, Inc.

     13,800        160,718  

Macromill, Inc.

     9,700        68,291  

 

See Notes to Financial Statements.

 

82   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2023

 

 

 

Investments    Shares      Value  

Proto Corp.

     12,900      $ 114,471  

SKY Perfect JSAT Holdings, Inc.

     126,300        490,624  

ValueCommerce Co. Ltd.

     7,700        98,355  

Wowow, Inc.

     6,600        62,137  

Zenrin Co. Ltd.(a)

     12,380        77,578  
     

 

 

 
Total Media

 

     1,445,276  
Metals & Mining – 4.8%

 

Asahi Holdings, Inc.(a)

     29,500        448,185  

Daido Steel Co. Ltd.(a)

     18,100        707,191  

Daiki Aluminium Industry Co. Ltd.(a)

     18,600        199,570  

Dowa Holdings Co. Ltd.(a)

     15,400        491,194  

Hakudo Co. Ltd.(a)

     6,700        131,745  

Kobe Steel Ltd.

     245,900        1,945,546  

Kyoei Steel Ltd.(a)

     11,514        139,113  

Maruichi Steel Tube Ltd.

     32,200        704,050  

Mitsubishi Materials Corp.

     32,200        521,868  

Mitsui Mining & Smelting Co. Ltd.(a)

     26,100        630,487  

Nakayama Steel Works Ltd.(a)

     24,100        176,191  

Neturen Co. Ltd.

     25,800        134,728  

Nippon Denko Co. Ltd.(a)

     87,400        234,441  

Nippon Light Metal Holdings Co. Ltd.(a)

     28,600        314,172  

Nippon Yakin Kogyo Co. Ltd.(a)

     6,900        220,599  

Nittetsu Mining Co. Ltd.

     7,000        188,294  

Sanyo Special Steel Co. Ltd.

     22,400        412,689  

Toho Titanium Co. Ltd.(a)

     8,800        145,796  

Toho Zinc Co. Ltd.(a)

     4,300        65,749  

Tokyo Steel Manufacturing Co. Ltd.(a)

     46,300        475,211  

Topy Industries Ltd.

     9,800        145,501  

UACJ Corp.(a)

     16,300        322,718  
     

 

 

 
Total Metals & Mining

 

     8,755,038  
Oil, Gas & Consumable Fuels – 1.4%

 

Cosmo Energy Holdings Co. Ltd.

     48,400        1,558,299  

Fuji Oil Co. Ltd.(a)

     35,500        70,685  

Itochu Enex Co. Ltd.

     39,581        335,765  

Nippon Coke & Engineering Co. Ltd.(a)

     222,200        145,251  

Sala Corp.

     24,800        140,314  

San-Ai Obbli Co. Ltd.

     21,016        216,492  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     2,466,806  
Paper & Forest Products – 0.4%

 

Daiken Corp.

     14,300        244,977  

Daio Paper Corp.(a)

     28,800        223,752  

Hokuetsu Corp.(a)

     32,332        215,482  

Tokushu Tokai Paper Co. Ltd.(a)

     5,500        121,497  
     

 

 

 
Total Paper & Forest Products

 

     805,708  
Personal Care Products – 0.5%

 

Mandom Corp.(a)

     10,800        119,856  

Milbon Co. Ltd.

     3,900        159,704  

Noevir Holdings Co. Ltd.

     16,900        685,701  
     

 

 

 
Total Personal Care Products

 

     965,261  
Pharmaceuticals – 1.6%

 

Fuji Pharma Co. Ltd.

     14,700        125,141  

Hisamitsu Pharmaceutical Co., Inc.

     17,000        482,831  

JCR Pharmaceuticals Co. Ltd.(a)

     11,900      126,341  

Kaken Pharmaceutical Co. Ltd.

     12,200        338,711  

KYORIN Holdings, Inc.

     20,185        258,436  

Mochida Pharmaceutical Co. Ltd.(a)

     13,822        346,874  

Sawai Group Holdings Co. Ltd.

     11,624        318,789  

Seikagaku Corp.(a)

     14,100        86,132  

Torii Pharmaceutical Co. Ltd.

     4,100        97,964  

Towa Pharmaceutical Co. Ltd.(a)

     12,400        176,557  

Tsumura & Co.

     20,400        403,126  

ZERIA Pharmaceutical Co. Ltd.(a)

     12,700        214,227  
     

 

 

 
Total Pharmaceuticals

 

     2,975,129  
Professional Services – 2.8%

 

Altech Corp.

     9,260        175,612  

Bell System24 Holdings, Inc.

     38,900        422,057  

Dip Corp.(a)

     7,100        188,583  

en Japan, Inc.(a)

     10,300        176,375  

Forum Engineering, Inc.

     17,400        110,213  

FULLCAST Holdings Co. Ltd.

     7,600        137,792  

Funai Soken Holdings, Inc.(a)

     12,310        250,658  

IR Japan Holdings Ltd.(a)

     7,200        126,645  

JAC Recruitment Co. Ltd.

     14,600        285,769  

LIKE, Inc.(a)

     6,200        95,220  

Link & Motivation, Inc.(a)

     100        394  

Meitec Corp.

     29,800        529,320  

Nomura Co. Ltd.(a)

     21,300        144,678  

Open Up Group, Inc.

     17,600        253,771  

Quick Co. Ltd.(a)

     6,300        84,164  

Relia, Inc.

     23,300        255,076  

Tanseisha Co. Ltd.(a)

     16,300        94,305  

TechnoPro Holdings, Inc.

     16,500        451,893  

TKC Corp.(a)

     9,700        267,481  

Transcosmos, Inc.

     27,500        647,776  

UT Group Co. Ltd.*(a)

     3,600        66,433  

Weathernews, Inc.

     1,700        84,559  

Will Group, Inc.

     9,000        73,101  

World Holdings Co. Ltd.(a)

     4,200        80,977  

YAMADA Consulting Group Co. Ltd.(a)

     10,300        118,486  
     

 

 

 
Total Professional Services

 

     5,121,338  
Real Estate Management & Development – 1.8%

 

Arealink Co. Ltd.

     6,500        114,919  

Dear Life Co. Ltd.

     34,100        171,153  

Goldcrest Co. Ltd.

     16,900        216,885  

Good Com Asset Co. Ltd.

     15,500        98,294  

Grandy House Corp.(a)

     31,400        129,526  

Heiwa Real Estate Co. Ltd.

     12,568        357,426  

Ichigo, Inc.(a)

     94,700        197,099  

JINUSHI Co. Ltd.(a)

     7,700        110,851  

Katitas Co. Ltd.

     9,200        178,276  

Keihanshin Building Co. Ltd.

     15,300        137,492  

Loadstar Capital KK

     6,500        68,668  

Mirarth Holdings, Inc.(a)

     69,000        195,454  

Nisshin Group Holdings Co. Ltd.(a)

     43,100        147,348  

SAMTY Co. Ltd.(a)

     16,400        271,218  

 

See Notes to Financial Statements.

 

WisdomTree Trust      83  


Schedule of Investments (continued)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2023

 

 

 

Investments    Shares      Value  

Star Mica Holdings Co. Ltd.

     14,200      $ 74,260  

Starts Corp., Inc.

     21,600        412,719  

Sun Frontier Fudousan Co. Ltd.

     26,600        256,027  

Tosei Corp.

     15,800        174,751  
     

 

 

 
Total Real Estate Management & Development

 

     3,312,366  
Semiconductors & Semiconductor Equipment – 1.8%

 

Ferrotec Holdings Corp.

     7,900        197,070  

Furuya Metal Co. Ltd.(a)

     1,800        122,939  

Japan Material Co. Ltd.(a)

     8,600        152,369  

Micronics Japan Co. Ltd.

     16,300        163,257  

Mimasu Semiconductor Industry Co. Ltd.

     6,527        144,233  

Mitsui High-Tec, Inc.

     3,400        213,570  

Optorun Co. Ltd.(a)

     7,200        119,775  

Rorze Corp.

     1,300        113,698  

Shibaura Mechatronics Corp.

     1,400        169,359  

Shindengen Electric Manufacturing Co. Ltd.(a)

     3,400        85,453  

Tokyo Seimitsu Co. Ltd.

     26,100        1,004,072  

Towa Corp.(a)

     5,500        86,535  

Ulvac, Inc.

     9,300        401,796  

Yamaichi Electronics Co. Ltd.(a)

     17,300        255,685  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     3,229,811  
Software – 0.8%

 

Computer Engineering & Consulting Ltd.

     12,400        119,071  

Cresco Ltd.(a)

     8,400        107,170  

Cybernet Systems Co. Ltd.

     100        666  

Digital Arts, Inc.

     1,600        61,312  

Fuji Soft, Inc.(a)

     5,700        328,492  

Fukui Computer Holdings, Inc.(a)

     3,600        74,007  

Justsystems Corp.(a)

     3,300        87,155  

Miroku Jyoho Service Co. Ltd.

     11,400        140,819  

SRA Holdings

     7,300        160,053  

Systena Corp.(a)

     69,700        151,875  

UNITED, Inc.

     9,700        93,290  

WingArc1st, Inc.(a)

     8,800        129,134  
     

 

 

 
Total Software

 

     1,453,044  
Specialty Retail – 3.7%

 

Adastria Co. Ltd.

     11,900        218,436  

Alpen Co. Ltd.(a)

     9,100        136,203  

AOKI Holdings, Inc.

     14,000        89,624  

Aoyama Trading Co. Ltd.

     9,300        65,545  

Arclands Corp.

     10,316        115,725  

Asahi Co. Ltd.

     12,000        122,173  

Autobacs Seven Co. Ltd.

     42,100        457,093  

Bic Camera, Inc.

     17,200        143,840  

Chiyoda Co. Ltd.

     15,491        94,862  

DCM Holdings Co. Ltd.

     39,645        344,053  

EDION Corp.(a)

     50,039        482,005  

Honeys Holdings Co. Ltd.(a)

     13,900        173,476  

IDOM, Inc.

     22,800        146,472  

Joshin Denki Co. Ltd.

     7,900        115,986  

Joyful Honda Co. Ltd.(a)

     21,400        275,439  

K’s Holdings Corp.

     105,900        925,402  

Keiyo Co. Ltd.

     12,700        80,347  

Kohnan Shoji Co. Ltd.

     7,600      185,303  

Kojima Co. Ltd.

     17,200        72,372  

Komeri Co. Ltd.

     12,137        249,507  

Nafco Co. Ltd.

     4,800        63,620  

Nextage Co. Ltd.

     5,600        116,132  

Nishimatsuya Chain Co. Ltd.(a)

     10,500        128,913  

Nojima Corp.(a)

     18,100        190,261  

PAL GROUP Holdings Co. Ltd.

     14,300        331,471  

Sanrio Co. Ltd.

     5,300        236,148  

Scroll Corp.(a)

     41,700        253,164  

T-Gaia Corp.(a)

     17,000        213,314  

VT Holdings Co. Ltd.

     70,400        268,185  

World Co. Ltd.(a)

     9,400        104,601  

Xebio Holdings Co. Ltd.

     20,100        158,426  

Yellow Hat Ltd.(a)

     20,500        280,799  
     

 

 

 
Total Specialty Retail

 

     6,838,897  
Technology Hardware, Storage & Peripherals – 1.2%

 

Eizo Corp.(a)

     5,400        166,151  

Elecom Co. Ltd.

     18,300        172,564  

Konica Minolta, Inc.(a)

     230,300        984,602  

MCJ Co. Ltd.

     29,400        205,661  

Riso Kagaku Corp.(a)

     8,700        150,807  

Roland DG Corp.(a)

     6,800        169,119  

Toshiba TEC Corp.(a)

     4,700        138,079  

Wacom Co. Ltd.(a)

     43,311        224,544  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     2,211,527  
Textiles, Apparel & Luxury Goods – 1.1%

 

Baroque Japan Ltd.(a)

     23,400        144,173  

Descente Ltd.(a)

     4,700        146,202  

Fujibo Holdings, Inc.

     5,200        129,131  

Gunze Ltd.(a)

     6,283        211,731  

Japan Wool Textile Co. Ltd.

     21,525        159,630  

Kurabo Industries Ltd.

     11,276        213,252  

Morito Co. Ltd.

     16,300        125,168  

Onward Holdings Co. Ltd.

     80,733        232,329  

Seiko Group Corp.

     9,600        208,821  

Wacoal Holdings Corp.(a)

     16,000        298,986  

Yondoshi Holdings, Inc.

     11,400        152,896  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     2,022,319  
Trading Companies & Distributors – 3.4%

 

Advan Group Co. Ltd.

     14,500        105,136  

Alconix Corp.(a)

     10,300        105,330  

Chori Co. Ltd.

     11,400        214,826  

Daiichi Jitsugyo Co. Ltd.

     2,300        96,258  

Hanwa Co. Ltd.(a)

     8,822        261,498  

Inaba Denki Sangyo Co. Ltd.

     22,788        494,833  

Inabata & Co. Ltd.(a)

     22,741        459,126  

JK Holdings Co. Ltd.(a)

     11,500        89,086  

Kamei Corp.

     11,200        123,790  

Kanamoto Co. Ltd.

     10,428        170,731  

Kanematsu Corp.

     26,000        320,775  

KPP Group Holdings Co. Ltd.(a)

     18,300        92,126  

MARUKA FURUSATO Corp.

     5,200        109,400  

 

See Notes to Financial Statements.

 

84   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree Japan SmallCap Dividend Fund (DFJ)

March 31, 2023

 

 

 

Investments    Shares      Value  

Mitsui Matsushima Holdings Co. Ltd.(a)

     6,800      $ 167,841  

Nagase & Co. Ltd.

     23,604        360,915  

Nichiden Corp.

     9,200        131,547  

Nippon Steel Trading Corp.

     16,400        1,144,759  

Nishio Rent All Co. Ltd.

     10,400        242,633  

Onoken Co. Ltd.(a)

     12,900        144,033  

Shinsho Corp.(a)

     6,800        296,341  

Totech Corp.(a)

     7,400        243,256  

Trusco Nakayama Corp.

     6,900        116,288  

Wakita & Co. Ltd.

     15,200        138,992  

Yamazen Corp.

     31,906        243,808  

Yuasa Trading Co. Ltd.

     9,300        264,486  
     

 

 

 
Total Trading Companies & Distributors

 

     6,137,814  
Transportation Infrastructure – 0.3%

 

Mitsubishi Logistics Corp.(a)

     21,400        500,067  

Nissin Corp.(a)

     8,400        133,489  
     

 

 

 
Total Transportation Infrastructure

 

     633,556  
Wireless Telecommunication Services – 0.2%

 

Okinawa Cellular Telephone Co.

     19,700        448,501  
TOTAL COMMON STOCKS
(Cost: $196,259,711)

 

     179,247,602  
EXCHANGE-TRADED FUND – 0.2%

 

United States – 0.2%

 

WisdomTree Japan Hedged Equity Fund(b)
(Cost: $226,530)
     3,365      237,973  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 14.3%

 

United States – 14.3%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(c)

     
(Cost: $26,129,443)      26,129,443        26,129,443  

TOTAL INVESTMENTS IN SECURITIES – 112.7%

(Cost: $222,615,684)

 

 

     205,615,018  

Other Assets less Liabilities – (12.7)%

 

     (23,118,298
     

 

 

 
NET ASSETS – 100.0%

 

   $ 182,496,720  

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $53,017,527 and the total market value of the collateral held by the Fund was $56,273,059. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $30,143,616.

 

(b) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate   Value at
3/31/2022
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2023
    Dividend
Income
 

WisdomTree Japan Hedged Equity Fund

  $ 380,663     $ 3,081,393     $ 3,153,204     $ (75,217   $ 4,338     $ 237,973     $ 42,249  

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

           

Investments in Securities

           

Common Stocks

 

Commercial Services & Supplies

   $ 2,516,091      $ 214,485      $         —      $ 2,730,576  

Other

     176,517,026                      176,517,026  

Exchange-Traded Fund

     237,973                      237,973  

Investment of Cash Collateral for Securities Loaned

            26,129,443               26,129,443  

Total Investments in Securities

   $ 179,271,090      $ 26,343,928      $      $ 205,615,018  

 

See Notes to Financial Statements.

 

WisdomTree Trust      85  


Statements of Assets and Liabilities

WisdomTree Trust

March 31, 2023

 

 

 

      WisdomTree
Europe Quality
Dividend
Growth Fund
     WisdomTree
Europe SmallCap
Dividend Fund
     WisdomTree
International
AI Enhanced
Value Fund
     WisdomTree
International
Equity Fund
     WisdomTree
International
High Dividend
Fund
 

ASSETS:

 

Investments, at cost

   $ 63,212,044      $ 277,033,634      $ 82,550,257      $ 528,940,702      $ 420,181,561  

Investment in affiliates, at cost (Note 3)

            61,960                      894,280  

Foreign currency, at cost

     9,600        175,943        171,371        630,716        439,999  

Investments in securities, at value1,2 (Note 2)

     69,912,413        277,263,107        80,097,381        609,523,887        446,775,730  

Investment in affiliates, at value (Note 3)

            64,306                      1,054,486  

Cash

     41,034        96,078        189,689        2,345        237,556  

Foreign currency, at value

     9,692        176,126        170,911        629,474        438,548  

Unrealized appreciation on foreign currency contracts

                   115                

Receivables:

 

Investment securities sold

                   1,940,372                

Dividends

     125,190        1,274,489        755,772        4,035,305        3,693,779  

Securities lending income

     690        71,980        2,600        65,902        86,539  

Foreign tax reclaims

     302,790        1,518,763        266,788        1,906,209        672,868  

Other (Note 6)

     4,816        450,836        14,228        51,615        14,276  

Total Assets

     70,396,625        280,915,685        83,437,856        616,214,737        452,973,782  

LIABILITIES:

 

Unrealized depreciation on foreign currency contracts

            573        2               166  

Payables:

 

Cash collateral received for securities loaned (Note 2)

     1,121,606        29,380,946        3,481,984        45,815,394        39,582,958  

Investment securities purchased

                   183,120                

Capital shares redeemed

                   1,944,523                

Advisory fees (Note 3)

     32,628        122,355        38,944        228,830        198,089  

Service fees (Note 2)

     248        930        295        2,097        1,507  

Other (Note 6)

     1,445        613,563        4,268        15,485        4,283  

Total Liabilities

     1,155,927        30,118,367        5,653,136        46,061,806        39,787,003  

NET ASSETS

   $ 69,240,698      $ 250,797,318      $ 77,784,720      $ 570,152,931      $ 413,186,779  

NET ASSETS:

 

Paid-in capital

   $ 77,005,711      $ 552,820,612      $ 149,750,943      $ 688,595,912      $ 479,761,638  

Total distributable earnings (loss)

     (7,765,013      (302,023,294      (71,966,223      (118,442,981      (66,574,859

NET ASSETS

   $ 69,240,698      $ 250,797,318      $ 77,784,720      $ 570,152,931      $ 413,186,779  

Outstanding beneficial interest shares of $0.001 par value (unlimited number of shares authorized)

     2,300,000        4,300,000        2,000,000        11,450,000        11,000,000  

Net asset value per share

   $ 30.10      $ 58.32      $ 38.89      $ 49.80      $ 37.56  

1 Includes market value of securities out on loan of:

   $ 1,436,515      $ 34,250,422      $ 5,165,534      $ 62,266,565      $ 55,711,563  

2 Investments in securities include investment of cash collateral for securities loaned (see Schedule of Investments for additional information).

  

 

 

See Notes to Financial Statements.

 

86   WisdomTree Trust


Statements of Assets and Liabilities (continued)

WisdomTree Trust

March 31, 2023

 

 

 

      WisdomTree
International
LargeCap
Dividend Fund
     WisdomTree
International
MidCap
Dividend Fund
     WisdomTree
International
Multifactor
Fund
     WisdomTree
International
Quality Dividend
Growth Fund
     WisdomTree
International
SmallCap
Dividend Fund
 

ASSETS:

 

Investments, at cost

   $ 440,476,782      $ 136,560,086      $ 39,502,542      $ 627,658,752      $ 1,283,311,846  

Investment in affiliates, at cost (Note 3)

     325,076                             3,107,270  

Foreign currency, at cost

     115,146        83,655        29,541        256,871        1,072,983  

Investments in securities, at value1,2 (Note 2)

     522,149,122        140,828,818        42,087,534        686,897,390        1,301,429,112  

Investment in affiliates, at value (Note 3)

     344,680                             3,583,268  

Cash

            22,886                      300,247  

Deposits at broker

                   20,000                

Foreign currency, at value

     116,252        83,600        29,524        256,664        1,073,086  

Unrealized appreciation on foreign currency contracts

                   78,482               402  

Receivables:

 

Capital shares sold

     36,000               19,922        18,569,212         

Dividends

     3,445,356        840,509        213,756        1,231,688        9,563,367  

Securities lending income

     68,031        5,328        2,071        10,045        153,937  

Foreign tax reclaims

     1,688,081        228,493        84,672        1,160,488        3,084,097  

Other (Note 6)

     21,345        24,298        5,956        24,106        597,168  

Total Assets

     527,868,867        142,033,932        42,541,917        708,149,593        1,319,784,684  

LIABILITIES:

 

Due to custodian

     1,022               11,710        22,641         

Unrealized depreciation on foreign currency contracts

            102        322,269               411  

Payables:

 

Cash collateral received for securities loaned (Note 2)

     35,830,045        13,788,259        2,197,452        23,845,723        125,225,751  

Investment securities purchased

                          18,143,424         

Advisory fees (Note 3)

     195,198        62,482        12,703        212,523        582,305  

Service fees (Note 2)

     1,791        474        146        2,226        4,431  

Other (Note 6)

     6,403        7,285        1,787        7,232        179,151  

Total Liabilities

     36,034,459        13,858,602        2,546,067        42,233,769        125,992,049  

NET ASSETS

   $ 491,834,408      $ 128,175,330      $ 39,995,850      $ 665,915,824      $ 1,193,792,635  

NET ASSETS:

 

Paid-in capital

   $ 533,975,199      $ 167,440,134      $ 41,460,549      $ 675,642,710      $ 1,568,865,030  

Total distributable earnings (loss)

     (42,140,791      (39,264,804      (1,464,699      (9,726,886      (375,072,395

NET ASSETS

   $ 491,834,408      $ 128,175,330      $ 39,995,850      $ 665,915,824      $ 1,193,792,635  

Outstanding beneficial interest shares of $0.001 par value (unlimited number of shares authorized)

     10,550,000        2,200,000        1,600,000        19,750,000        19,650,000  

Net asset value per share

   $ 46.62      $ 58.26      $ 25.00      $ 33.72      $ 60.75  

1 Includes market value of securities out on loan of:

   $ 46,880,996      $ 23,398,066      $ 4,180,156      $ 30,557,656      $ 199,039,176  

2 Investments in securities include investment of cash collateral for securities loaned (see Schedule of Investments for additional information).

  

 

 

See Notes to Financial Statements.

 

WisdomTree Trust      87  


Statements of Assets and Liabilities (concluded)

WisdomTree Trust

March 31, 2023

 

 

 

      WisdomTree
Japan SmallCap
Dividend Fund
 

ASSETS:

 

Investments, at cost

   $ 222,389,154  

Investment in affiliates, at cost (Note 3)

     226,530  

Foreign currency, at cost

     102,544  

Investments in securities, at value1,2 (Note 2)

     205,377,045  

Investment in affiliates, at value (Note 3)

     237,973  

Cash

     100,652  

Foreign currency, at value

     102,274  

Receivables:

 

Dividends

     2,614,509  

Securities lending income

     10,942  

Foreign tax reclaims

     272,566  

Total Assets

     208,715,961  

LIABILITIES:

 

Payables:

  

Cash collateral received for securities loaned (Note 2)

     26,129,443  

Advisory fees (Note 3)

     89,121  

Service fees (Note 2)

     677  

Total Liabilities

     26,219,241  

NET ASSETS

   $ 182,496,720  

NET ASSETS:

 

Paid-in capital

   $ 319,988,861  

Total distributable earnings (loss)

     (137,492,141

NET ASSETS

   $ 182,496,720  

Outstanding beneficial interest shares of $0.001 par value (unlimited number of shares authorized)

     2,750,000  

Net asset value per share

   $ 66.36  

1 Includes market value of securities out on loan of:

   $ 53,017,527  

2 Investments in securities include investment of cash collateral for securities loaned (see Schedule of Investments for additional information).

  

 

 

See Notes to Financial Statements.

 

88   WisdomTree Trust


Statements of Operations

WisdomTree Trust

For the Year Ended March 31, 2023

 

 

 

     WisdomTree
Europe Quality
Dividend
Growth Fund
    WisdomTree
Europe SmallCap
Dividend Fund
    WisdomTree
International
AI Enhanced
Value Fund
    WisdomTree
International
Equity Fund
    WisdomTree
International
High Dividend
Fund
 

INVESTMENT INCOME:

 

Dividends

  $ 2,201,833     $ 13,999,736     $ 4,495,394     $ 27,734,648     $ 15,295,312  

Dividends from affiliates (Note 3)

          72,655                   144,253  

Interest

    91       5,308             1,735        

Non-cash dividends

    9,401       1,325,922       4,147       2,446,536       1,427,478  

Other income (Note 6)

    5,375       577,609       32,412       150,952       15,631  

Securities lending income, net (Note 2)

    16,310       416,118       65,996       334,284       264,414  

Less: Foreign withholding taxes on dividends

    (235,553     (1,512,959     (369,649     (2,364,676     (1,213,411

Total investment income

    1,997,457       14,884,389       4,228,300       28,303,479       15,933,677  

EXPENSES:

 

Advisory fees (Note 3)

    360,325       1,297,336       506,414       2,729,053       1,427,019  

Service fees (Note 2)

    2,734       9,841       3,842       25,016       10,826  

Other fees (Note 6)

    1,445       147,781       8,751       39,626       4,283  

Total expenses

    364,504       1,454,958       519,007       2,793,695       1,442,128  

Expense waivers (Note 3)

          (2,309                 (3,809

Net expenses

    364,504       1,452,649       519,007       2,793,695       1,438,319  

Net investment income

    1,632,953       13,431,740       3,709,293       25,509,784       14,495,358  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

Net realized gain (loss) from:

 

Investment transactions

    (8,759,890     (41,396,223     (11,914,598     (29,706,605     (12,744,896

Investment transactions in affiliates (Note 3)

          (321,495                 (520,832

In-kind redemptions

    1,064,413       (9,405,117     (1,459,735     6,807,307        

Futures contracts

          142,602                    

Foreign currency contracts

    22,765       (223,189     35,264       (170,663     (44,148

Foreign currency related transactions

    (57,787     89,098       (151,754     (311,878     (73,794

Net realized loss

    (7,730,499     (51,114,324     (13,490,823     (23,381,839     (13,383,670

Net increase (decrease) in unrealized appreciation/depreciation:

 

Investment transactions

    3,010,139       3,831,664       6,534,173       (24,794,633     11,253,096  

Investment transactions in affiliates (Note 3)

          11,781                   138,424  

Foreign currency contracts

          1,282       763       (10     (41

Translation of assets and liabilities denominated in foreign currencies

    4,184       (84,532     (1,800     (3,098     10,826  

Net increase (decrease) in unrealized appreciation/depreciation

    3,014,323       3,760,195       6,533,136       (24,797,741     11,402,305  

Net realized and unrealized loss on investments

    (4,716,176     (47,354,129     (6,957,687     (48,179,580     (1,981,365

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS

  $ (3,083,223   $ (33,922,389   $ (3,248,394   $ (22,669,796   $ 12,513,993  

 

See Notes to Financial Statements.

 

WisdomTree Trust      89  


Statements of Operations (continued)

WisdomTree Trust

For the Year Ended March 31, 2023

 

 

 

     WisdomTree
International
LargeCap
Dividend Fund
    WisdomTree
International
MidCap
Dividend Fund
    WisdomTree
International
Multifactor
Fund
    WisdomTree
International
Quality Dividend
Growth Fund
    WisdomTree
International
SmallCap
Dividend Fund
 

INVESTMENT INCOME:

 

Dividends

  $ 18,913,449     $ 6,254,642     $ 1,499,073     $ 13,999,627     $ 64,510,420  

Dividends from affiliates (Note 3)

    37,637                         444,031  

Interest

    788             31              

Non-cash dividends

    1,971,585       39,698       26,537       2,082,081       1,807,645  

Other income (Note 6)

    23,586       26,727       6,664       27,955       997,815  

Securities lending income, net (Note 2)

    251,790       81,783       31,060       90,837       1,145,610  

Less: Foreign withholding taxes on dividends

    (1,543,676     (602,400     (118,153     (1,277,351     (5,822,848

Total investment income

    19,655,159       5,800,450       1,445,212       14,923,149       63,082,673  

EXPENSES:

 

Advisory fees (Note 3)

    1,918,507       717,741       125,695       1,645,412       6,687,718  

Service fees (Note 2)

    17,586       5,445       1,456       17,237       50,734  

Other fees (Note 6)

    6,403       7,285       1,787       7,381       238,503  

Total expenses

    1,942,496       730,471       128,938       1,670,030       6,976,955  

Expense waivers (Note 3)

    (1,368                       (18,856

Net expenses

    1,941,128       730,471       128,938       1,670,030       6,958,099  

Net investment income

    17,714,031       5,069,979       1,316,274       13,253,119       56,124,574  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

Net realized gain (loss) from:

 

Investment transactions

    (17,447,761     (14,091,746     (2,653,861     (61,292,301     (161,480,069

Investment transactions in affiliates (Note 3)

    (83,774                       (2,449,960

In-kind redemptions

          289,379       494,705       2,678,648       (505,545

Futures contracts

                1,984              

Foreign currency contracts

    (90,229     5,958       1,644,187       (76,738     (1,380,678

Foreign currency related transactions

    (150,603     (88,991     (26,092     (97,631     526,195  

Net realized loss

    (17,772,367     (13,885,400     (539,077     (58,788,022     (165,290,057

Net increase (decrease) in unrealized appreciation/depreciation:

         

Investment transactions

    15,788,013       723,676       722,239       52,343,379       7,689,941  

Investment transactions in affiliates (Note 3)

    19,604                         703,898  

Foreign currency contracts

          (102     (307,966           (1,718

Translation of assets and liabilities denominated in foreign currencies

    24,529       (4,969     (633     10,671       (197,723

Net increase in unrealized appreciation/depreciation

    15,832,146       718,605       413,640       52,354,050       8,194,398  

Net realized and unrealized loss on investments

    (1,940,221     (13,166,795     (125,437     (6,433,972     (157,095,659

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS

  $ 15,773,810     $ (8,096,816   $ 1,190,837     $ 6,819,147     $ (100,971,085

 

See Notes to Financial Statements.

 

90   WisdomTree Trust


Statements of Operations (concluded)

WisdomTree Trust

For the Year Ended March 31, 2023

 

 

 

      WisdomTree
Japan SmallCap
Dividend Fund
 

INVESTMENT INCOME:

  

Dividends

   $ 6,129,223  

Dividends from affiliates (Note 3)

     42,249  

Securities lending income, net (Note 2)

     56,225  

Less: Foreign withholding taxes on dividends

     (629,721

Total investment income

     5,597,976  

EXPENSES:

 

Advisory fees (Note 3)

     1,032,826  

Service fees (Note 2)

     7,836  

Total expenses

     1,040,662  

Expense waivers (Note 3)

     (907

Net expenses

     1,039,755  

Net investment income

     4,558,221  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

Net realized loss from:

 

Investment transactions

     (21,380,220

Investment transactions in affiliates (Note 3)

     (75,217

In-kind redemptions

     (5,058,111

Foreign currency contracts

     846  

Foreign currency related transactions

     (299,610

Net realized loss

     (26,812,312

Net increase (decrease) in unrealized appreciation/depreciation:

 

Investment transactions

     25,176,844  

Investment transactions in affiliates (Note 3)

     4,338  

Foreign currency contracts

     704  

Translation of assets and liabilities denominated in foreign currencies

     (12,986

Net increase in unrealized appreciation/depreciation

     25,168,900  

Net realized and unrealized loss on investments

     (1,643,412

NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS

   $ 2,914,809  

 

See Notes to Financial Statements.

 

WisdomTree Trust      91  


Statements of Changes in Net Assets

WisdomTree Trust

 

 

 

 

      WisdomTree Europe Quality
Dividend Growth Fund
     WisdomTree Europe SmallCap
Dividend Fund
     WisdomTree International AI
Enhanced Value Fund
 
      For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

Net investment income

   $ 1,632,953      $ 1,962,084      $ 13,431,740      $ 9,068,092      $ 3,709,293      $ 7,150,496  

Net realized gain (loss) on investments, futures contracts, foreign currency contracts and foreign currency related transactions

     (7,730,499      1,586,007        (51,114,324      49,203,140        (13,490,823      12,748,134  

Net increase (decrease) in unrealized appreciation/depreciation on investments, foreign currency contracts and translation of assets and liabilities denominated in foreign currencies

     3,014,323        (2,620,967      3,760,195        (57,010,630      6,533,136        (18,626,236

Net increase (decrease) in net assets resulting from operations

     (3,083,223      927,124        (33,922,389      1,260,602        (3,248,394      1,272,394  

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

     (1,667,670      (1,969,811      (14,405,217      (8,828,002      (4,170,635      (7,009,725

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

     18,424,119        26,532,909        50,584,868        11,158,363               86,530,850  

Cost of shares redeemed

     (16,778,882             (47,265,636      (18,012,335      (36,378,090      (103,559,834

Net increase (decrease) in net assets resulting from capital share transactions

     1,645,237        26,532,909        3,319,232        (6,853,972      (36,378,090      (17,028,984

Net Increase (Decrease) in Net Assets

     (3,105,656      25,490,222        (45,008,374      (14,421,372      (43,797,119      (22,766,315

NET ASSETS:

 

Beginning of year

   $ 72,346,354      $ 46,856,132      $ 295,805,692      $ 310,227,064      $ 121,581,839      $ 144,348,154  

End of year

   $ 69,240,698      $ 72,346,354      $ 250,797,318      $ 295,805,692      $ 77,784,720      $ 121,581,839  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

     2,300,000        1,500,000        4,350,000        4,450,000        3,000,000        3,400,000  

Shares created

     650,000        800,000        850,000        150,000               2,000,000  

Shares redeemed

     (650,000             (900,000      (250,000      (1,000,000      (2,400,000

Shares outstanding, end of year

     2,300,000        2,300,000        4,300,000        4,350,000        2,000,000        3,000,000  

 

See Notes to Financial Statements.

 

92   WisdomTree Trust


Statements of Changes in Net Assets (continued)

WisdomTree Trust

 

 

 

 

     

WisdomTree International

Equity Fund

     WisdomTree International High
Dividend Fund
     WisdomTree International LargeCap
Dividend Fund
 
      For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

Net investment income

   $ 25,509,784      $ 22,049,629      $ 14,495,358      $ 8,707,341      $ 17,714,031      $ 13,317,196  

Net realized gain (loss) on investments, foreign currency contracts and foreign currency related transactions

     (23,381,839      5,959,349        (13,383,670      2,422,107        (17,772,367      4,648,519  

Net increase (decrease) in unrealized appreciation/depreciation on investments, foreign currency contracts and translation of assets and liabilities denominated in foreign currencies

     (24,797,741      415,707        11,402,305        660,813        15,832,146        7,274,413  

Net increase (decrease) in net assets resulting from operations

     (22,669,796      28,424,685        12,513,993        11,790,261        15,773,810        25,240,128  

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

     (26,843,795      (22,558,337      (14,557,836      (8,671,887      (18,097,424      (13,525,175

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

     43,192,061        64,690,387        213,596,432        21,973,614        112,351,029        24,586,877  

Cost of shares redeemed

     (57,953,886      (38,753,146             (6,142,830             (7,211,803

Net increase (decrease) in net assets resulting from capital share transactions

     (14,761,825      25,937,241        213,596,432        15,830,784        112,351,029        17,375,074  

Net Increase (Decrease) in Net Assets

     (64,275,416      31,803,589        211,552,589        18,949,158        110,027,415        29,090,027  

NET ASSETS:

 

Beginning of year

   $ 634,428,347      $ 602,624,758      $ 201,634,190      $ 182,685,032      $ 381,806,993      $ 352,716,966  

End of year

   $ 570,152,931      $ 634,428,347      $ 413,186,779      $ 201,634,190      $ 491,834,408      $ 381,806,993  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

     11,950,000        11,450,000        5,050,000        4,650,000        7,800,000        7,450,000  

Shares created

     900,000        1,250,000        5,950,000        550,000        2,750,000        500,000  

Shares redeemed

     (1,400,000      (750,000             (150,000             (150,000

Shares outstanding, end of year

     11,450,000        11,950,000        11,000,000        5,050,000        10,550,000        7,800,000  

 

See Notes to Financial Statements.

 

WisdomTree Trust      93  


Statements of Changes in Net Assets (continued)

WisdomTree Trust

 

 

 

 

      WisdomTree International MidCap
Dividend Fund
     WisdomTree International Multifactor
Fund
     WisdomTree International Quality
Dividend Growth Fund
 
      For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

Net investment income

   $ 5,069,979      $ 5,409,875      $ 1,316,274      $ 1,104,597      $ 13,253,119      $ 9,409,991  

Net realized gain (loss) on investments, futures contracts, foreign currency contracts and foreign currency related transactions

     (13,885,400      5,632,037        (539,077      2,276,857        (58,788,022      9,097,988  

Net increase (decrease) in unrealized appreciation/depreciation on investments, foreign currency contracts and translation of assets and liabilities denominated in foreign currencies

     718,605        (10,864,182      413,640        (2,159,096      52,354,050        (21,788,396

Net increase (decrease) in net assets resulting from operations

     (8,096,816      177,730        1,190,837        1,222,358        6,819,147        (3,280,417

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

     (5,553,560      (5,307,913      (1,277,796      (1,281,800      (13,540,674      (8,948,267

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

     11,005,333               9,671,353               330,148,196        236,774,497  

Cost of shares redeemed

     (5,032,369      (3,421,536      (2,474,953      (5,192,465      (31,250,555      (41,113,302

Net increase (decrease) in net assets resulting from capital share transactions

     5,972,964        (3,421,536      7,196,400        (5,192,465      298,897,641        195,661,195  

Net Increase (Decrease) in Net Assets

     (7,677,412      (8,551,719      7,109,441        (5,251,907      292,176,114        183,432,511  

NET ASSETS:

 

Beginning of year

   $ 135,852,742      $ 144,404,461      $ 32,886,409      $ 38,138,316      $ 373,739,710      $ 190,307,199  

End of year

   $ 128,175,330      $ 135,852,742      $ 39,995,850      $ 32,886,409      $ 665,915,824      $ 373,739,710  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

     2,100,000        2,150,000        1,300,000        1,500,000        10,150,000        5,150,000  

Shares created

     200,000               400,000               10,650,000        6,050,000  

Shares redeemed

     (100,000      (50,000      (100,000      (200,000      (1,050,000      (1,050,000

Shares outstanding, end of year

     2,200,000        2,100,000        1,600,000        1,300,000        19,750,000        10,150,000  

 

See Notes to Financial Statements.

 

94   WisdomTree Trust


Statements of Changes in Net Assets (concluded)

WisdomTree Trust

 

 

 

 

      WisdomTree International SmallCap
Dividend Fund
     WisdomTree Japan SmallCap
Dividend Fund
 
      For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

Net investment income

   $ 56,124,574      $ 44,202,057      $ 4,558,221      $ 5,176,789  

Net realized gain (loss) on investments, foreign currency contracts and foreign currency related transactions

     (165,290,057      151,859,396        (26,812,312      (457,146

Net increase (decrease) in unrealized appreciation/depreciation on investments, foreign currency contracts and translation of assets and liabilities denominated in foreign currencies

     8,194,398        (202,257,174      25,168,900        (29,534,772

Net increase (decrease) in net assets resulting from operations

     (100,971,085      (6,195,721      2,914,809        (24,815,129

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

     (62,885,580      (47,038,894      (7,163,312      (4,540,106

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

     36,161,923        381,404,109        15,564,306        70,804,885  

Cost of shares redeemed

     (8,875,297      (401,325,182      (41,967,436      (18,441,877

Net increase (decrease) in net assets resulting from capital share transactions

     27,286,626        (19,921,073      (26,403,130      52,363,008  

Net Increase (Decrease) in Net Assets

     (136,570,039      (73,155,688      (30,651,633      23,007,773  

NET ASSETS:

 

Beginning of year

   $ 1,330,362,674      $ 1,403,518,362      $ 213,148,353      $ 190,140,580  

End of year

   $ 1,193,792,635      $ 1,330,362,674      $ 182,496,720      $ 213,148,353  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

     19,200,000        19,450,000        3,200,000        2,500,000  

Shares created

     600,000        5,050,000        250,000        950,000  

Shares redeemed

     (150,000      (5,300,000      (700,000      (250,000

Shares outstanding, end of year

     19,650,000        19,200,000        2,750,000        3,200,000  

 

See Notes to Financial Statements.

 

WisdomTree Trust      95  


Financial Highlights

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Europe Quality Dividend Growth
Fund
   For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Period Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 31.45     $ 31.24     $ 22.13     $ 25.06     $ 26.24  

Investment operations:

          

Net investment income1

     0.72       1.08       0.66       0.62       0.61  

Net realized and unrealized gain (loss)

     (1.35     0.21 2      9.10       (2.93     (1.05

Total from investment operations

     (0.63     1.29       9.76       (2.31     (0.44

Dividends to shareholders:

          

Net investment income

     (0.72     (1.08     (0.65     (0.62     (0.74

Net asset value, end of year

   $ 30.10     $ 31.45     $ 31.24     $ 22.13     $ 25.06  

TOTAL RETURN3

     (1.64 )%      4.02     44.43     (9.46 )%      (1.62 )% 

RATIOS/SUPPLEMENTAL DATA:

          

Net assets, end of year (000’s omitted)

   $ 69,241     $ 72,346     $ 46,856     $ 25,450     $ 41,342  

Ratios to average net assets of:

          

Expenses

     0.59 %4      0.59 %4      0.58     0.58     0.58

Net investment income

     2.63     3.26     2.37     2.42     2.41

Portfolio turnover rate5

     43     53     61     43     42

 

WisdomTree Europe SmallCap Dividend Fund    For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 68.00     $ 69.71     $ 41.06     $ 58.54     $ 69.55  

Investment operations:

          

Net investment income1

     3.42       2.03       1.31       2.43       2.57  

Net realized and unrealized gain (loss)

     (9.57     (1.79     28.62       (17.41     (10.87

Total from investment operations

     (6.15     0.24       29.93       (14.98     (8.30

Dividends to shareholders:

          

Net investment income

     (3.53     (1.95     (1.28     (2.50     (2.71

Net asset value, end of year

   $ 58.32     $ 68.00     $ 69.71     $ 41.06     $ 58.54  

TOTAL RETURN3

     (8.50 )%      0.18     73.76     (26.54 )%      (12.19 )% 

RATIOS/SUPPLEMENTAL DATA:

          

Net assets, end of year (000’s omitted)

   $ 250,797     $ 295,806     $ 310,227     $ 320,231     $ 667,402  

Ratios to average net assets6 of:

          

Expenses7

     0.65 %4      0.73 %4      0.58     0.58     0.58

Net investment income

     6.00     2.77     2.39     4.15     4.06

Portfolio turnover rate5

     46     68     92     50     52

 

1 

Based on average shares outstanding.

 

2 

The amount of net realized and unrealized gain per share does not correspond with the amount reported within the Statements of Changes due to the timing of capital share transactions of Fund shares and fluctuating market values during the fiscal year.

 

3 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. For the periods in which the investment advisor waived advisory fees for the WisdomTree Europe SmallCap Dividend Fund, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

4 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.58%.

 

5 

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

6 

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

7 

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

See Notes to Financial Statements.

 

96   WisdomTree Trust


Financial Highlights (continued)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree International AI
Enhanced Value Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 20221
    For the
Year Ended
March 31, 20211
     For the
Year Ended
March 31, 20201
     For the
Year Ended
March 31, 20191
 

Net asset value, beginning of year

   $ 40.53      $ 42.46     $ 31.66      $ 41.19      $ 43.18  

Investment operations:

             

Net investment income2

     1.56        2.14       1.64        1.69        1.74  

Net realized and unrealized gain (loss)

     (1.46      (1.98     10.78        (9.52      (1.98

Total from investment operations

     0.10        0.16       12.42        (7.83      (0.24

Dividends to shareholders:

             

Net investment income

     (1.74      (2.09     (1.62      (1.70      (1.75

Net asset value, end of year

   $ 38.89      $ 40.53     $ 42.46      $ 31.66      $ 41.19  

TOTAL RETURN3

     0.80      0.30     39.87      (19.77 )%       (0.49 )% 

RATIOS/SUPPLEMENTAL DATA:

             

Net assets, end of year (000’s omitted)

   $ 77,785      $ 121,582     $ 144,348      $ 106,061      $ 179,189  

Ratios to average net assets of:

             

Expenses

     0.59 %4       0.58 %5,6,7      0.58 %6,7       0.58 %6,7       0.58 %6,7 

Net investment income

     4.25      5.03 %7      4.34 %7       4.17 %7       4.17 %7 

Portfolio turnover rate8

     148 %9       99 %9,10      61      45      41

 

WisdomTree International Equity
Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 53.09      $ 52.63     $ 39.65      $ 50.59      $ 54.63  

Investment operations:

             

Net investment income2

     2.11        1.94       1.47        1.69        1.86  

Net realized and unrealized gain (loss)

     (3.19      0.50       12.99        (10.88      (3.98

Total from investment operations

     (1.08      2.44       14.46        (9.19      (2.12

Dividends to shareholders:

             

Net investment income

     (2.21      (1.98     (1.48      (1.75      (1.92

Net asset value, end of year

   $ 49.80      $ 53.09     $ 52.63      $ 39.65      $ 50.59  

TOTAL RETURN3

     (1.55 )%       4.62     36.92      (18.80 )%       (3.89 )% 

RATIOS/SUPPLEMENTAL DATA:

             

Net assets, end of year (000’s omitted)

   $ 570,153      $ 634,428     $ 602,625      $ 580,910      $ 837,260  

Ratios to average net assets of:

             

Expenses

     0.49 %11       0.49 %6,7,11      0.48 %6,7       0.48 %6,7       0.48 %6,7 

Net investment income

     4.49      3.58 %7      3.13 %7       3.36 %7       3.59 %7 

Portfolio turnover rate8

     24      31     47      23      15

 

1 

The information reflects the investment objective and strategy of the WisdomTree International Dividend ex-Financials Fund through January 17, 2022 and the investment objective and strategy of the WisdomTree International AI Enhanced Value Fund thereafter.

 

2 

Based on average shares outstanding.

 

3 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. For the periods in which the investment advisor waived advisory fees, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

4 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.58%.

 

5 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been unchanged.

 

6 

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

7 

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

8 

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

9 

The increase in the portfolio turnover rate was primarily a result of the change in investment objective and strategy on January 18, 2022.

 

10 

On January 7, 2022, Voya Investment Management Co., LLC replaced Mellon Investments Corporation as sub-advisor to the Fund.

 

11 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.48%.

 

See Notes to Financial Statements.

 

WisdomTree Trust      97  


Financial Highlights (continued)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree International High
Dividend Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2021
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 39.93      $ 39.29      $ 29.53      $ 40.30      $ 43.25  

Investment operations:

              

Net investment income1

     2.11        1.90        1.54        1.65        1.78  

Net realized and unrealized gain (loss)

     (2.37      0.63        9.73        (10.75      (2.89

Total from investment operations

     (0.26      2.53        11.27        (9.10      (1.11

Dividends to shareholders:

              

Net investment income

     (2.11      (1.89      (1.51      (1.67      (1.84

Net asset value, end of year

   $ 37.56      $ 39.93      $ 39.29      $ 29.53      $ 40.30  

TOTAL RETURN2

     0.01      6.61      38.88      (23.48 )%       (2.53 )% 

RATIOS/SUPPLEMENTAL DATA:

              

Net assets, end of year (000’s omitted)

   $ 413,187      $ 201,634      $ 182,685      $ 174,236      $ 251,852  

Ratios to average net assets3 of:

              

Expenses4

     0.58 %5       0.59 %6       0.58      0.58      0.58

Net investment income

     5.89      4.80      4.43      4.18      4.32

Portfolio turnover rate7

     36      40      57      34      24

 

WisdomTree International
LargeCap Dividend Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2021
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 48.95      $ 47.34      $ 36.81      $ 46.37      $ 49.48  

Investment operations:

              

Net investment income1

     1.94        1.79        1.42        1.56        1.81  

Net realized and unrealized gain (loss)

     (2.23      1.63        10.55        (9.52      (3.09

Total from investment operations

     (0.29      3.42        11.97        (7.96      (1.28

Dividends to shareholders:

              

Net investment income

     (2.04      (1.81      (1.44      (1.60      (1.83

Net asset value, end of year

   $ 46.62      $ 48.95      $ 47.34      $ 36.81      $ 46.37  

TOTAL RETURN2

     (0.05 )%       7.27      32.91      (17.78 )%       (2.55 )% 

RATIOS/SUPPLEMENTAL DATA:

              

Net assets, end of year (000’s omitted)

   $ 491,834      $ 381,807      $ 352,717      $ 327,622      $ 389,510  

Ratios to average net assets3 of:

              

Expenses4

     0.49 %8       0.49 %8       0.48      0.48      0.48

Net investment income

     4.43      3.63      3.33      3.38      3.83

Portfolio turnover rate7

     23      30      38      14      14

 

1 

Based on average shares outstanding.

 

2 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. For the periods in which the investment advisor waived advisory fees, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

3 

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

4 

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

5 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been unchanged.

 

6 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.58%.

 

7 

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

8 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.48%.

 

See Notes to Financial Statements.

 

98   WisdomTree Trust


Financial Highlights (continued)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree International MidCap Dividend
Fund
   For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 64.69     $ 67.16     $ 47.06     $ 61.98     $ 68.12  

Investment operations:

          

Net investment income1

     2.31       2.54       1.51       2.03       2.00  

Net realized and unrealized gain (loss)

     (6.20     (2.53     20.12       (14.87     (6.17

Total from investment operations

     (3.89     0.01       21.63       (12.84     (4.17

Dividends to shareholders:

          

Net investment income

     (2.54     (2.48     (1.53     (2.08     (1.97

Net asset value, end of year

   $ 58.26     $ 64.69     $ 67.16     $ 47.06     $ 61.98  

TOTAL RETURN2

     (5.68 )%      (0.13 )%      46.54     (21.43 )%      (6.16 )% 

RATIOS/SUPPLEMENTAL DATA:

          

Net assets, end of year (000’s omitted)

   $ 128,175     $ 135,853     $ 144,404     $ 169,413     $ 278,924  

Ratios to average net assets of:

          

Expenses

     0.59 %3      0.59 %3      0.58     0.58     0.58 %4,5 

Net investment income

     4.10     3.75     2.63     3.30     3.12 %4 

Portfolio turnover rate6

     39     44     62     33     28

 

WisdomTree International Multifactor Fund    For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the Period
August 10, 2018*
through
March 31, 2019
 

Net asset value, beginning of period

   $ 25.30     $ 25.43     $ 20.88     $ 24.72     $ 24.75  

Investment operations:

          

Net investment income1

     0.95       0.79       0.59       0.75       0.55  

Net realized and unrealized gain (loss)

     (0.33     0.007       4.53       (3.88     (0.27

Total from investment operations

     0.62       0.79       5.12       (3.13     0.28  

Dividends to shareholders:

          

Net investment income

     (0.92     (0.92     (0.57     (0.71     (0.31

Net asset value, end of period

   $ 25.00     $ 25.30     $ 25.43     $ 20.88     $ 24.72  

TOTAL RETURN2

     2.76     3.03     24.70     (13.08 )%      1.18

RATIOS/SUPPLEMENTAL DATA:

          

Net assets, end of year (000’s omitted)

   $ 39,996     $ 32,886     $ 38,138     $ 33,408     $ 19,778  

Ratios to average net assets of:

          

Expenses

     0.39 %8      0.39 %8      0.38     0.38 %4,5      0.38 %9 

Net investment income

     3.98     3.01     2.47     3.04 %4      3.61 %9 

Portfolio turnover rate6

     118     105     123     132     114

 

*

Commencement of operations. The commencement of operations date is considered to be the date that the Fund began trading in the secondary market.

 

1

Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. For the periods in which the investment advisor waived advisory fees, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

3

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.58%.

 

4

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

5

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

6

Portfolio turnover rate is not annualized for fiscal periods less than one year and excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

7

Amount represents less than $0.005.

 

8

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.38%.

 

9

Annualized.

 

See Notes to Financial Statements.

 

WisdomTree Trust      99  


Financial Highlights (continued)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree International Quality
Dividend Growth Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2021
     For the
Year Ended
March 31, 2020
     For the
Period Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 36.82      $ 36.95      $ 25.87      $ 28.62      $ 30.50  

Investment operations:

              

Net investment income1

     1.06        1.22        0.91        0.70        0.58  

Net realized and unrealized gain (loss)

     (3.03      (0.27 )2       10.98        (2.77      (1.95

Total from investment operations

     (1.97      0.95        11.89        (2.07      (1.37

Dividends to shareholders:

              

Net investment income

     (1.13      (1.08      (0.81      (0.68      (0.51

Net asset value, end of year

   $ 33.72      $ 36.82      $ 36.95      $ 25.87      $ 28.62  

TOTAL RETURN3

     (4.85 )%       2.46      46.22      (7.43 )%       (4.43 )% 

RATIOS/SUPPLEMENTAL DATA:

              

Net assets, end of year (000’s omitted)

   $ 665,916      $ 373,740      $ 190,307      $ 68,551      $ 71,541  

Ratios to average net assets of:

              

Expenses, net of expense waivers

     0.43 %4       0.42      0.41 %5       0.38 %6       0.38 %6 

Expenses, prior to expense waivers

     0.43 %4       0.42      0.44      0.48      0.48

Net investment income

     3.38      3.16      2.73      2.38      2.05

Portfolio turnover rate7

     48      63      66      51      55

 

WisdomTree International
SmallCap Dividend Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2021
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 69.29      $ 72.16      $ 48.29      $ 65.74      $ 75.80  

Investment operations:

              

Net investment income1

     2.91        2.27        1.55        2.36        2.19  

Net realized and unrealized gain (loss)

     (8.19      (2.72      23.97        (17.32      (10.01

Total from investment operations

     (5.28      (0.45      25.52        (14.96      (7.82

Dividends to shareholders:

              

Net investment income

     (3.26      (2.42      (1.65      (2.49      (2.24

Net asset value, end of year

   $ 60.75      $ 69.29      $ 72.16      $ 48.29      $ 65.74  

TOTAL RETURN3

     (7.23 )%       (0.79 )%       53.46      (23.58 )%       (10.41 )% 

RATIOS/SUPPLEMENTAL DATA:

              

Net assets, end of year (000’s omitted)

   $ 1,193,793      $ 1,330,363      $ 1,403,518      $ 1,161,439      $ 1,673,095  

Ratios to average net assets8 of:

              

Expenses9

     0.60 %10       0.61 %10       0.58      0.58      0.58

Net investment income

     4.87      3.08      2.54      3.63      3.15

Portfolio turnover rate7

     51      55      74      50      35

 

1 

Based on average shares outstanding.

 

2

The amount of net realized and unrealized loss per share does not correspond with the amount reported within the Statements of Changes due to the timing of capital share transactions of Fund shares and fluctuating market values during the fiscal year.

 

3

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. For the periods in which the investment advisor waived advisory fees, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

4 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.42%.

 

5

The investment advisor had contractually agreed to limit the advisory fee to 0.38% through July 31, 2020. On July 31, 2020, the contractual waiver expired and the advisory fee was permanently reduced to 0.42%.

 

6

Effective April 7, 2016, the investment advisor contractually agreed to limit the advisory fee to 0.38% through July 31, 2020, unless earlier terminated by the Board of Trustees of the Trust.

 

7

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

8

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

9 

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

10 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.58%.

 

See Notes to Financial Statements.

 

100   WisdomTree Trust


Financial Highlights (concluded)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Japan SmallCap Dividend Fund    For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 66.61     $ 76.06     $ 58.64     $ 68.10     $ 80.93  

Investment operations:

          

Net investment income1

     1.58       1.71       1.17       1.14       1.00  

Net realized and unrealized gain (loss)

     0.61 2      (9.68     18.13       (8.95     (12.61

Total from investment operations

     2.19       (7.97     19.30       (7.81     (11.61

Dividends to shareholders:

          

Net investment income

     (2.44     (1.48     (1.88     (1.65     (1.22

Net asset value, end of year

   $ 66.36     $ 66.61     $ 76.06     $ 58.64     $ 68.10  

TOTAL RETURN3

     3.62     (10.62 )%      33.27     (11.85 )%      (14.38 )% 

RATIOS/SUPPLEMENTAL DATA:

          

Net assets, end of year (000’s omitted)

   $ 182,497     $ 213,148     $ 190,141     $ 237,503     $ 616,294  

Ratios to average net assets4 of:

          

Expenses5

     0.58     0.58     0.58     0.58     0.58

Net investment income

     2.56     2.34     1.73     1.67     1.35

Portfolio turnover rate6

     26     36     43     38     42

 

1 

Based on average shares outstanding.

 

2 

The amount of net realized and unrealized gain per share does not correspond with the amount reported within the Statements of Changes due to the timing of capital share transactions of Fund shares and fluctuating market values during the fiscal year.

 

3 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. For the periods in which the investment advisor waived advisory fees, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

4 

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

5 

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

6 

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

See Notes to Financial Statements.

 

WisdomTree Trust      101  


Notes to Financial Statements

 

1. ORGANIZATION

WisdomTree Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust was established as a Delaware statutory trust on December 15, 2005 and is authorized to have multiple series of portfolios (each a “Fund”, collectively, the “Funds”). These notes relate only to the Funds listed below. In accordance with Accounting Standards Codification Topic 946, Financial Services-Investment Companies, each Fund listed below qualifies as an investment company and is applying the accounting and reporting guidance for investment companies.

 

   
Fund    Commencement
of Operations
 

WisdomTree Europe Quality Dividend Growth Fund (“Europe Quality Dividend Growth Fund”)

     May 7, 2014  

WisdomTree Europe SmallCap Dividend Fund (“Europe SmallCap Dividend Fund”)

     June 16, 2006  

WisdomTree International AI Enhanced Value Fund (“International AI Enhanced Value Fund”)

     June 16, 2006  

WisdomTree International Equity Fund (“International Equity Fund”)

     June 16, 2006  

WisdomTree International High Dividend Fund (“International High Dividend Fund”)

     June 16, 2006  

WisdomTree International LargeCap Dividend Fund (“International LargeCap Dividend Fund”)

     June 16, 2006  

WisdomTree International MidCap Dividend Fund (“International MidCap Dividend Fund”)

     June 16, 2006  

WisdomTree International Multifactor Fund (“International Multifactor Fund”)

     August 10, 2018  

WisdomTree International Quality Dividend Growth Fund (“International Quality Dividend Growth Fund”)

     April 7, 2016  

WisdomTree International SmallCap Dividend Fund (“International SmallCap Dividend Fund”)

     June 16, 2006  

WisdomTree Japan SmallCap Dividend Fund (“Japan SmallCap Dividend Fund”)

     June 16, 2006  

Each Fund, except for the International AI Enhanced Value Fund and International Multifactor Fund, seeks to track the price and yield performance, before fees and expenses, of a particular index (“Index”) developed by WisdomTree, Inc. (“WisdomTree”) or an Index developed by a third party. The International AI Enhanced Value Fund is actively managed using a model-based approach seeking income and capital appreciation. The International Multifactor Fund is actively managed using a model-based approach seeking capital appreciation. WisdomTree is the parent company of WisdomTree Asset Management, Inc. (“WTAM”), the investment adviser to each Fund and the Trust. “WisdomTree” is a registered trademark of WisdomTree and has been licensed for use by the Trust. Each Fund described herein is considered to be non-diversified as defined under the 1940 Act.

In the normal course of business, the Funds may enter into contracts that contain a variety of representations or that provide indemnification for certain liabilities. The Funds’ maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Funds have not had prior claims or losses pursuant to these contracts and believe such exposure to be remote.

2. SIGNIFICANT ACCOUNTING POLICIES

The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (the “Codification”) is the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal laws are also sources of authoritative GAAP for SEC registrants.

The following is a summary of significant accounting policies followed by the Funds:

Use of Estimates — The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in the net assets from operations during the reporting period. Actual results could differ from those estimates.

Investment Valuation — The net asset value (“NAV”) of each Fund’s shares is calculated each day a Fund is open for business as of the regularly scheduled close of regular trading on the New York Stock Exchange, normally 4:00 p.m. Eastern time (the “NAV Calculation Time”). NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding. Each Fund issues and redeems shares at NAV only in large blocks of shares known as creation units, which only certain institutions (e.g., broker-dealers) may purchase or redeem. Shares of each Fund are listed on a national securities exchange and trade at market prices. Most investors will buy and sell shares in the secondary market through brokers. Because Fund shares trade at market prices rather than NAV, shares may trade at a price greater than NAV or less than NAV. In calculating each Fund’s NAV, investments are valued under policies approved by the Board of Trustees of the Trust (the “Board of Trustees”). Equity securities (including preferred stock) traded on any recognized U.S. or non-U.S. exchange are valued at the last sale price or official closing price on the exchange on which they are principally traded. Unlisted equity securities (including preferred stock) are valued at the last sale price

 

102   WisdomTree Trust


Notes to Financial Statements (continued)

 

or, if no sale price is available, at the mean between the highest bid and lowest ask price. Each Fund may invest in money market funds which are valued at their NAV per share and exchange-traded funds (“ETFs” or “ETF”) or exchange-traded notes (“ETNs” or “ETN”) which are valued at their last sale or official closing price on the exchange on which they are principally traded or at their NAV per share in instances where the ETF or ETN has not traded on its principal exchange. Foreign currency contracts that settle within two business days after the trade date (“Spot Contracts”) and foreign currency contracts having a settlement period greater than two business days after the trade date (“Forward Contracts”) are valued daily using WM/Reuters closing spot and forward rates, respectively, as of 4:00 p.m. London time. Futures contracts generally are valued at the settlement price, the price at which a futures contract settles once a given trading day has ended, on the primary exchange on which they trade.

Pursuant to Board-approved valuation procedures established by the Trust and WTAM, the Board has appointed WTAM as the Funds’ valuation designee (the “Valuation Designee”) to perform all fair valuations of the Funds’ portfolio investments, subject to the Board’s oversight. As the Valuation Designee, WTAM has established procedures for its fair valuation of a Fund’s portfolio investments. These procedures address, among other things, determining when market quotations are not readily available or reliable and the methodologies to be used for determining the fair value of investments, as well as the use and oversight of third-party pricing services for fair valuation. The Valuation Designee is comprised of senior representatives of WTAM and reports to the Board of Trustees on a quarterly basis. In the event that a financial instrument cannot be valued based upon a price from the exchange or system on which it is principally traded, independent pricing service provider or broker-dealer quotation, or such prices are deemed to not reflect current market value, the Valuation Designee may value the financial instrument in good faith under the policies and procedures approved by the Board of Trustees based on current facts and circumstances. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations, securities whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next NAV Calculation Time that may materially affect the value of a Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair value pricing is employed, the prices of securities used by a Fund to calculate its NAV may differ from quoted or published prices for the same securities.

Fair Value Measurement — In accordance with Codification Topic 820 (“ASC 820”), Fair Value Measurements and Disclosures, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Valuation Designee will perform other procedures (consistent with GAAP) to value an investment when a market quote is not available. ASC 820 established a three-tier hierarchy of inputs to be used when determining fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk — for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The three-tier hierarchy of inputs is summarized in the three broad levels listed below:

Level 1 – quoted prices in active markets for identical securities

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates,

prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including each Fund’s assumptions in determining the fair value of investments)

The inputs or methodology used for valuation are not necessarily an indication of the risk associated with investing in those investments.

Investments that use Level 2 or Level 3 inputs may include, but are not limited to: (i) an unlisted security related to corporate actions; (ii) a restricted security (e.g., one that may not be publicly sold without registration under the Securities Act of 1933, as amended); (iii) a security whose trading has been suspended (either due to events affecting the issuer of the security specifically or events affecting the primary trading exchange more broadly) or which has been de-listed from its primary trading exchange; (iv) a security that is thinly traded; (v) a security in default or bankruptcy proceedings for which there is no current market quotation or market activity; (vi) a security affected by currency controls or restrictions; and (vii) a security affected by a significant event (e.g., an event that occurs after the close of the markets in which the security is traded but before the time as of which a Fund’s NAV is computed and that may materially affect the value of the Fund’s investments).

The valuation techniques and significant inputs used in determining the fair market value measurements for Level 2 and Level 3 positions are as follows:

Financial instruments are generally valued by independent pricing service providers that use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models. Depending on the type of financial instrument, the independent

 

WisdomTree Trust      103  


Notes to Financial Statements (continued)

 

pricing service providers’ internal pricing models may use inputs that are observable such as issuer details (e.g., credit rating, debt ranking, coupon date, maturity date, etc.), interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar assets. Financial instruments that use similar valuation techniques and observable inputs as described above and have an appropriate level of market activity are categorized as Level 2 of the fair value hierarchy, otherwise a Level 3 fair value classification is appropriate. Over-the-counter financial derivative instruments derive their value from underlying asset prices, indices, reference rates, and other inputs or a combination of these factors. These instruments are normally valued on the basis of broker-dealer quotations or prices obtained from independent pricing service providers. Depending on the product and the terms of the transaction, the value of the financial derivative instruments can be estimated by an independent pricing service provider using a series of techniques including simulation pricing models. The pricing models may use inputs that are observed from actively quoted markets such as issuer details, indices, credit risks/spreads, interest rates, yield curves, default and exchange rates. Derivative contracts that use similar valuation techniques and observable inputs as described above and have an appropriate level of market activity are categorized as Level 2 of the fair value hierarchy, otherwise a Level 3 fair value classification is appropriate.

Determination of a fair value by the Valuation Designee may include significant unobservable inputs and therefore such financial instruments would be reflected as a Level 3 of the fair value hierarchy. The Valuation Designee may employ a market-based valuation approach which may use, among other potential considerations, related or comparable securities, recent transactions, market multiples, and other relevant information to determine fair value. The Valuation Designee may also use an income-based valuation approach in which anticipated future cash flows of the financial instrument are discounted to calculate fair value.

The summary of fair valuations according to the inputs used in valuing each Fund’s assets as of the measurement date is included in a “Fair Valuation Summary” supplementary table in each applicable Fund’s Schedule of Investments.

During the fiscal year ended March 31, 2023, there were no significant transfers into or out of Level 3 of the fair value hierarchy.

Derivatives and Hedging Disclosure — Codification Topic 815 (“ASC 815”), Derivatives and Hedging, requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts as well as gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements. The Funds have invested in derivatives, specifically foreign currency contracts during the fiscal year ended March 31, 2023 and open positions in such derivatives as of March 31, 2023 are detailed in each Fund’s Schedule of Investments. All of the derivative instruments disclosed and described herein are subject to credit risk. Risks may arise upon entering into foreign currency contracts from potential inability of a counterparty to meet the terms of their contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar or each other. Any collateral posted (or received) with respect to the derivative positions would be used to offset or reduce the payment due to (or due from) a counterparty in the event of default. Information with respect to the amounts and types of collateral received and/or posted for derivative instruments as of March 31, 2023, if any, is reflected as a footnote within each Fund’s Schedule of Investments and/or in “Deposits at broker” in the Statements of Assets and Liabilities. The Funds’ maximum credit risk exposure to derivatives agreements would be the total value of derivatives disclosed in the table included in Note 2 — Master Netting Arrangements under the column entitled “Assets: Net Amount”.

As of March 31, 2023, the effects of such derivative instruments on each Fund’s financial position as reflected in the Statements of Assets and Liabilities are presented in the summary below:

 

     
     Asset Derivatives      Liability Derivatives  
Fund    Balance Sheet Location    Value      Balance Sheet Location    Value  

Europe SmallCap Dividend Fund

           

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
   $      Unrealized depreciation on
foreign currency contracts
   $ 573  

International AI Enhanced Value Fund

           

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
     115      Unrealized depreciation on
foreign currency contracts
     2  

International High Dividend Fund

           

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
          Unrealized depreciation on
foreign currency contracts
     166  

International MidCap Dividend Fund

           

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
          Unrealized depreciation on
foreign currency contracts
     102  

International Multifactor Fund

           

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
     78,482      Unrealized depreciation on
foreign currency contracts
     322,269  

International SmallCap Dividend Fund

           

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
     402      Unrealized depreciation on
foreign currency contracts
     411  

 

104   WisdomTree Trust


Notes to Financial Statements (continued)

 

For the fiscal year ended March 31, 2023, the effects of derivative instruments on each applicable Fund’s financial performance as reflected in the Statements of Operations are presented in the summary below:

 

     
Fund    Amount of Realized Gain
or (Loss) on Derivatives
Recognized1
     Change in Unrealized
Appreciation or
(Depreciation) on
Derivatives Recognized2
 

Europe Quality Dividend Growth Fund

     

Foreign currency risk

   $ 22,765      $  

Europe SmallCap Dividend Fund

     

Equity risk

     142,602         

Foreign currency risk

     (223,189      1,282  

International AI Enhanced Value Fund

     

Foreign currency risk

     35,264        763  

International Equity Fund

     

Foreign currency risk

     (170,663      (10

International High Dividend Fund

     

Foreign currency risk

     (44,148      (41

International LargeCap Dividend Fund

     

Foreign currency risk

     (90,229       

International MidCap Dividend Fund

     

Foreign currency risk

     5,958        (102

International Multifactor Fund

     

Equity risk

     1,984         

Foreign currency risk

     1,644,187        (307,966

International Quality Dividend Growth Fund

     

Foreign currency risk

     (76,738       

International SmallCap Dividend Fund

     

Foreign currency risk

     (1,380,678      (1,718

Japan SmallCap Dividend Fund

     

Foreign currency risk

     846        704  

 

  1 

Realized gains (losses) on derivatives are located on the Statements of Operations as follows:

 

Foreign currency risk

   Net realized gain (loss) from foreign currency contracts

Equity risk

   Net realized gain (loss) from futures contracts

 

  2 

Change in unrealized appreciation (depreciation) is located on the Statements of Operations as follows:

 

Foreign currency risk

   Net increase (decrease) in unrealized appreciation/depreciation from foreign currency contracts

During the fiscal year ended March 31, 2023, the volume of derivative activity (based on the average of month-end balances, except where footnoted) for each Fund was as follows:

 

   
     Average Notional  
Fund    Foreign currency
contracts
(to deliver
USD)
     Foreign currency
contracts
(to receive
USD)
     Futures
contracts
(long)
 

Europe Quality Dividend Growth Fund

        

Foreign currency risk1

   $      $ 6,721      $  

Europe SmallCap Dividend Fund

        

Equity risk1

                   262,820  

Foreign currency risk

     78,108        420,355         

International AI Enhanced Value Fund

        

Foreign currency risk

     129,598        195,524         

International Equity Fund

        

Foreign currency risk1

     118,846        13,936         

International High Dividend Fund

        

Foreign currency risk

     213,712        50,256         

 

WisdomTree Trust      105  


Notes to Financial Statements (continued)

 

   
     Average Notional  
Fund    Foreign currency
contracts
(to deliver
USD)
     Foreign currency
contracts
(to receive
USD)
     Futures
contracts
(long)
 

International LargeCap Dividend Fund

        

Foreign currency risk1

   $ 56,118      $ 21,257      $  

International MidCap Dividend Fund

        

Foreign currency risk

     13,316        15,956         

International Multifactor Fund

        

Equity risk1

                   45,769  

Foreign currency risk

     4,041,201        22,237,029         

International Quality Dividend Growth Fund

        

Foreign currency risk1

     15,107        63,762         

International SmallCap Dividend Fund

        

Foreign currency risk

     39,455        989,632         

Japan SmallCap Dividend Fund

        

Foreign currency risk1

            39,521         
  1 

The volume of derivative activity for the period is based on intra-month balances.

Investment Transactions and Investment Income — Investment transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses on sales of portfolio securities are calculated using the identified-cost method. Dividend income (less foreign taxes withheld, if any) is recognized on the ex-dividend date or as soon as practicable (with respect to foreign dividends) after the existence of a dividend declaration has been determined. Non-cash dividend income is recognized on the ex-dividend date, or as soon as practicable (with respect to foreign dividends) after the existence of a dividend declaration has been determined, at the fair value of securities to be received. On each measurement date, the Funds evaluate the collectability of receivable balances. Generally, the Funds will write-off dividend receivable balances that are canceled by the issuer as of the date that the dividend receivable cancellation notification was publicly made available or when it becomes probable that dividends will not be collected and the amount of uncollectable dividends can be reasonably estimated. Income earned from securities lending activities (i.e., securities lending income), net of fees payable to the securities borrower and/or securities lending agent, is accrued daily.

Foreign Taxes — The Funds may be subject to foreign taxes (a portion of which may be reclaimable or refundable) on foreign income or capital gains on investment transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and tax rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are accrued and applied to foreign income as the foreign income is earned and are reflected in the Statements of Operations as follows: foreign taxes withheld on dividends are presented as a reduction to investment income in “Less: Foreign withholding taxes on dividends”, foreign taxes on capital gains from investment transactions, if any, are included in “Net realized gain (loss) from investment transactions”, and deferred foreign taxes on net unrealized appreciation on investments, if any, are included in “Net increase (decrease) in unrealized appreciation/depreciation on investment transactions”. Foreign taxes payable or deferred as of March 31, 2023, if any, are disclosed in the Statements of Assets and Liabilities in “Payables: Foreign capital gains tax”.

In certain foreign jurisdictions, when the Funds incur subsequent capital losses on investment transactions that occurred during the tax year in the applicable foreign jurisdiction, the Funds may be entitled to a refund on any foreign taxes paid on previous capital gain investment transactions that occurred during the tax year of the applicable foreign jurisdiction. Foreign capital gain tax refunds on investment transactions are included in “Net realized gain (loss) from investment transactions” on the Statements of Operations and foreign capital gain tax refunds that remain unpaid as of March 31, 2023, if any, is disclosed in the Statements of Assets and Liabilities in “Receivables: Foreign capital gains tax refund”.

The Funds file foreign tax reclaims in certain foreign jurisdictions to recover a portion of amounts previously withheld on dividend income if the tax reclaim is “more likely than not” to be sustained assuming examination by tax authorities. This determination is based on, among other things, a jurisdiction’s legal obligation to pay reclaims as well as payment history and market convention. Foreign tax reclaims recorded relating to current fiscal year investment income are included in the Statements of Operations as a reduction to the balance shown for “Foreign withholding taxes on dividends” and foreign tax reclaims recorded, but not yet received as of March 31, 2023, if any, are shown on the Statements of Assets and Liabilities in “Receivables: Foreign tax reclaims”.

Foreign Currency Translation — The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies, as well as investment securities and other assets and liabilities denominated in foreign currencies, are translated into U.S. dollars using exchange rates prevailing on the respective dates of such transactions that are deemed appropriate by WTAM. Realized and unrealized foreign exchange gains and losses on investments are included as a component of “net realized gain (loss) from investment transactions” and “net increase (decrease) in unrealized appreciation/depreciation from investment transactions”, respectively, on the Statements of Operations. Realized and unrealized foreign exchange gains or losses from foreign currency contracts are included in “net realized gain (loss) from foreign currency contracts” and “net increase (decrease) in unrealized appreciation/depreciation from foreign

 

106   WisdomTree Trust


Notes to Financial Statements (continued)

 

currency contracts”, respectively, on the Statements of Operations. Realized and unrealized foreign exchange gains or losses arising from sales of foreign currencies, currency gains or losses recognized between the trade and settlement dates on investment transactions, and the difference between the amounts of dividends and foreign withholding taxes recorded on the Funds’ books and the U.S. dollar equivalent of the amounts actually received or paid are included in “net realized gain (loss) from foreign currency related transactions” and/or “net increase (decrease) in unrealized appreciation/depreciation from translation of assets and liabilities denominated in foreign currencies” in the Statements of Operations. Certain foreign exchange gains and losses included in realized and unrealized gains or losses are included in, or are a reduction of, ordinary income in accordance with U.S. Federal income tax regulations.

Expenses — Under the investment advisory agreement for each Fund, except for Funds that commenced operations on or after March 26, 2013, WTAM has agreed to pay all expenses of the Trust, except for: (i) brokerage expenses and other expenses (such as stamp taxes) connected with the execution of portfolio transactions or in connection with creation and redemption transactions; (ii) legal fees or expenses in connection with any arbitration, litigation or pending or threatened arbitration or litigation, including any settlements in connection therewith; (iii) compensation and expenses of trustees who are not interested persons of the Funds (“Independent Trustees”); (iv) compensation and expenses of counsel to the Independent Trustees; (v) compensation and expenses of the Trust’s Chief Compliance Officer (“CCO”); (vi) extraordinary expenses; (vii) distribution fees and expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act; and (viii) the advisory fee payable to WTAM.

Under the investment advisory agreement for Funds that commenced operations on or after March 26, 2013, WTAM has agreed to pay all expenses of the Trust, except for: (i) brokerage expenses and other fees, charges, taxes, levies or expenses (such as stamp taxes) incurred in connection with the execution of portfolio transactions or in connection with creation and redemption transactions (including without limitation any fees, charges, taxes, levies or expenses related to the purchase or sale of an amount of any currency, or the patriation or repatriation of any security or other asset, related to the execution of portfolio transactions or any creation or redemption transactions); (ii) legal fees or expenses in connection with any arbitration, litigation or pending or threatened arbitration or litigation, including any settlements in connection therewith; (iii) compensation and expenses of each Independent Trustee; (iv) compensation and expenses of counsel to the Independent Trustees; (v) compensation and expenses of the Trust’s CCO; (vi) extraordinary expenses (in each case as determined by a majority of the Independent Trustees); (vii) distribution fees and expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act; (viii) interest and taxes of any kind or nature (including, but not limited to, income, excise, transfer and withholding taxes); (ix) fees and expenses related to the provision of securities lending services; and (x) the advisory fee payable to WTAM.

Acquired fund fees and expenses (“AFFEs”) (which are fees and expenses incurred indirectly by a Fund through its investments in certain underlying investment companies) are not operating expenses of the Funds and are not paid by WTAM.

Pursuant to a separate contractual arrangement, WTAM arranges for the provision of CCO services with respect to each Fund, and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees. WTAM receives a fee, as shown on the Statements of Operations under “Service fees”, of up to 0.0044% per annum of each Fund’s average daily net assets for providing such services and paying such expenses. WTAM provides CCO services to the Trust.

Foreign Currency Contracts — The Funds may enter into foreign currency contracts to facilitate local securities settlements or to protect against currency exposure. The Funds, other than the International Multifactor Fund, do not expect to engage in currency transactions for the purpose of hedging against currency exposures of the Fund’s assets that are denominated in one or more foreign currencies. The Funds may not enter into such contracts for speculative purposes. During the fiscal year ended March 31, 2023, the Funds, except for the International Multifactor Fund, utilized foreign currency contracts primarily to facilitate foreign security settlements. The International Multifactor Fund utilized foreign currency contracts primarily to offset applicable international currency exposure from certain positions in international equities. A foreign currency contract involves an obligation to purchase or sell a specific currency at a future date, which may be any fixed number of days from the date of the contract agreed upon by the parties, at a price set at the time of the contract. These contracts are principally traded in the inter-bank market conducted directly between currency traders (usually large, commercial banks) and their customers. A foreign currency contract generally does not require an initial margin deposit and no commissions are charged at any stage for trades.

Risks may arise upon entering into foreign currency contracts from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of foreign currencies relative to the U.S. dollar or each other.

Fluctuations in the value of open foreign currency contracts are recorded for book purposes as unrealized gains or losses on foreign currency contracts by the Funds and are included in “net increase (decrease) in unrealized appreciation/depreciation from foreign currency contracts” on the Statements of Operations. Realized gains and losses on foreign currency contracts include net gains or losses recognized by the Funds on contracts which have settled are included in “net realized gain (loss) from foreign currency contracts on the Statements of Operations.

Futures Contracts — The Europe SmallCap Dividend Fund and International Multifactor Fund each utilized equity futures contracts on a temporary basis during the fiscal year to obtain market exposure consistent with its investment objective during each Fund’s periodic portfolio rebalance. When a Fund purchases a listed futures contract, it agrees to purchase a specified reference asset

 

WisdomTree Trust      107  


Notes to Financial Statements (continued)

 

(e.g., commodity, currency, equity, digital asset or U.S. Treasury security, collectively herein, “Reference Asset”) at a specified future date. When a Fund sells a listed futures contract, it agrees to sell a specified Reference asset at a future date. The price at which the purchase and sale will take place is fixed when the Fund enters into the contract. A Fund may also cash settle upon the expiration date of a futures contract in which no physical delivery (or receipt) of the specified Reference Asset comprising the futures contract is made. Instead, settlement in cash would occur upon the expiration of the contract, with the cash settlement being the difference between the contract price and the actual price of the specified Reference Asset at the expiration date. The exchange clearing corporation is the ultimate counterparty for all exchange-listed contracts, so credit risk is limited to the creditworthiness of the exchange clearing corporation.

Upon entering into a futures contract, a Fund is required to deliver to a broker an amount of cash and/or U.S. government securities equal to a certain percentage of the contract amount. This amount is known as the “initial margin”. Cash deposited as initial margin, if any, is shown as “Deposits at broker” in the Statement of Assets and Liabilities, and U.S. government securities deposited, if any, are designated in the Schedule of Investments. Subsequent payments, known as “variation margin”, generally are made or received by the Fund each day or at other agreed-upon time periods depending on the fluctuations in the value of the underlying futures contracts, except that in the case of certain futures contracts, variation margin payments may be made or received when the futures contract expires. Variation margin is recorded for financial statement purposes on a daily basis as an unrealized gain or loss on futures until the financial futures contract is closed, at which time the unrealized net gain or loss is reclassified to realized gain or loss on futures. Prior to August 19, 2022, when a Fund purchased or sold a futures contract, the Fund was required to “cover” its position in order to limit the risk associated with the use of leverage and other related risks. To cover its position, a Fund would segregate assets consisting of, or take other measures with respect to, cash or liquid securities that, when added to any amounts deposited with a futures commission merchant as margin, would “cover” its position in a manner consistent with the 1940 Act or the rules and SEC interpretations thereunder. This functioned as a practical limit on the amount of leverage which a Fund could undertake and on the potential increase in the speculative character of a Fund’s outstanding portfolio securities. Effective August 19, 2022, the Funds have adopted a derivatives risk management program to manage the Funds’ derivatives risk. Please see Note 7 “Recent Regulatory Update” for information on new regulations governing the use of derivatives by the Funds.

As of March 31, 2023, there were no open futures contracts in the Funds.

Securities Lending — Each Fund may lend portfolio securities to certain creditworthy borrowers, including the Funds’ securities lending agent. It is the Funds’ policy that, at origination, all loans are secured by collateral of at least 102% of the value of U.S. securities loaned and 105% of the value of foreign securities loaned. Collateral in the form of cash and/or securities issued or guaranteed by the U.S. government or its agencies, equivalent to at least 100% of the market value of securities, is maintained at all times. The cash collateral can be invested in certain money market mutual funds which also have exposure to the fluctuations of the market. The values of the investments of cash collateral for securities on loan along with the obligations to return such collateral are included on the Statements of Assets and Liabilities. The total value of securities received as collateral for securities on loan is included in a footnote following each Schedule of Investments, but is not included within the Statements of Assets and Liabilities because the receiving Fund does not have the right to sell or repledge the securities received as collateral. As compensation for lending its securities, each Fund retains all or a portion of the interest received on investment of cash collateral or receives a fee from the borrower (net of any fee rebates paid to the borrower). The lending agent receives a portion of the income earned by the Funds in connection with the lending program. The net securities lending income earned by the Funds is disclosed on the Statements of Operations. The dividend income earned on the securities loaned is accounted for in the same manner as other dividend income. The borrower pays to the Funds an amount equal to any dividends or interest received on loaned securities. Dividends received while a security is out on loan are not considered Qualified Dividend Income (“QDI”) under the specific criteria issued by the Internal Revenue Service and are subject to taxation at the shareholder’s ordinary income tax rate instead of the lower long-term capital gains tax rate. Lending portfolio securities could result in a loss or delay in recovering each Fund’s securities if the borrower defaults. In the event of a borrower default with respect to the failure to return to each Fund some or all of the securities loaned, the securities lending agent shall indemnify each Fund against the failure of the borrower if the value of the collateral received is insufficient to cover the market value of the securities loaned.

Master Netting Arrangements — Codification Topic 210 (“ASC 210”), Balance Sheet, requires disclosures generally intended to (i) help investors and other financial statement users to better assess the effect or potential effect of offsetting arrangements on a company’s financial position, (ii) improve transparency in the reporting of how companies mitigate credit risk, and (iii) facilitate comparisons between those entities that prepare their financial statements on the basis of GAAP and those entities that prepare their financial statements on the basis of international financial reporting standards. ASC 210 requires entities to disclose (i) gross and net information about both instruments and transactions eligible for offset in the financial statements, and (ii) instruments and transactions subject to an agreement similar to a master netting agreement. ASC 210 is limited in scope to the following financial instruments, to the extent they are offset in the financial statements or subject to an enforceable master netting arrangement or similar agreement: (i) recognized derivative instruments accounted for under ASC 815 (Derivatives and Hedging); (ii) repurchase agreements and reverse repurchase agreements; and (iii) securities borrowing and securities lending transactions.

 

108   WisdomTree Trust


Notes to Financial Statements (continued)

 

In order to better define its contractual rights and to secure rights that will help a Fund mitigate its counterparty risk, a Fund enters into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) with its counterparties. An ISDA Master Agreement is a bilateral agreement between a Fund and a counterparty that governs over-the-counter derivatives (“OTC”), such as foreign currency contracts, and typically contains, among other things, collateral posting terms, netting and rights of set-off provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, a Fund may, under certain circumstances, offset with the counterparty certain derivative financial instruments’ payables and receivables to create a single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of a default (close-out netting) or similar event, including the bankruptcy or insolvency of the counterparty.

Collateral requirements generally differ by type of derivative. Collateral terms are contract-specific for OTC derivatives (e.g., foreign currency contracts, options and certain swaps). To the extent amounts due to a Fund from its derivatives counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from a counterparty’s non-performance.

The Funds’ securities lending activities are governed by a Securities Lending Authorization Agreement (“Lending Agreement”) between the Funds and the lending agent. The Lending Agreement authorizes the lending agent to lend qualifying U.S. and foreign securities held by a Fund to approved borrowers (each a “Borrower”). To mitigate borrower risk, a Fund typically receives from a Borrower collateral in the form of U.S. dollar cash and/or securities issued or guaranteed by the U.S. government or its agencies in excess of the market value of the securities loaned. Under the provisions of the Lending Agreement, a Fund shall have, as to the collateral, all of the rights and remedies of a secured party under applicable law. A Fund is exposed to risk of loss if a Borrower defaults on its obligation to return borrowed securities and the value of the collateral a Fund received is insufficient to cover the market value of the securities loaned. Also, the lending agent is permitted to invest the cash collateral it receives from a Borrower into a money market fund which is subject to market fluctuation. Therefore, a Fund is exposed to risk of loss if the value of invested cash collateral is insufficient to satisfy the Fund’s obligation to return the full amount owed to such Borrower. However, in the event of a borrower default with respect to the failure to return to each Fund some or all of the securities loaned, the securities lending agent shall indemnify each Fund against the failure of the borrower if the value of the collateral received is insufficient to cover the market value of the securities loaned.

For financial reporting purposes, the Funds elect to not offset assets and liabilities subject to an ISDA Master Agreement or Lending Agreement, if any, in the Statements of Assets and Liabilities. Therefore, all qualifying transactions are presented on a gross basis in the Statements of Assets and Liabilities. As of March 31, 2023, the impact of netting of assets and liabilities and the offsetting of collateral pledged or received based on contractual netting/set-off provisions in the ISDA Master Agreement and the Lending Agreement are detailed in the following table:

 

     
    Assets     Liabilities  
   

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
         

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
       
Fund   Financial
Instruments
    Collateral
Received
    Net Amount     Financial
Instruments
    Collateral
Posted
    Net Amount  

Europe Quality Dividend Growth Fund

               

Securities Lending

  $ 1,436,515     $     $ (1,436,515 )1    $     $     $     $     $  

Europe SmallCap Dividend Fund

               

Securities Lending

    34,250,422             (34,250,422 )1                               

Foreign Currency Contracts

                            573                   573  

International AI Enhanced Value Fund

               

Securities Lending

    5,165,534             (5,165,534 )1                               

Foreign Currency Contracts

    115       (2           113       2       (2            

International Equity Fund

               

Securities Lending

    62,266,565             (62,266,565 )1                               

International High Dividend Fund

               

Securities Lending

    55,711,563             (55,711,563 )1                               

Foreign Currency Contracts

                            166                   166  

International LargeCap Dividend Fund

               

Securities Lending

    46,880,996             (46,880,996 )1                               

International MidCap Dividend Fund

               

Securities Lending

    23,398,066             (23,398,066 )1                               

Foreign Currency Contracts

                            102                   102  

 

WisdomTree Trust      109  


Notes to Financial Statements (continued)

 

     
    Assets     Liabilities  
   

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
         

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
       
Fund   Financial
Instruments
    Collateral
Received
    Net Amount     Financial
Instruments
    Collateral
Posted
    Net Amount  

International Multifactor Fund

               

Securities Lending

  $ 4,180,156     $     $ (4,180,156 )1    $     $     $     $     $  

Foreign Currency Contracts

    78,482       (75,882           2,600       322,269       (75,882           246,387  

International Quality Dividend Growth Fund

               

Securities Lending

    30,557,656             (30,557,656 )1                               

International SmallCap Dividend Fund

               

Securities Lending

    199,039,176             (199,039,176 )1                               

Foreign Currency Contracts

    402       (12           390       411       (12           399  

Japan SmallCap Dividend Fund

               

Securities Lending

    53,017,527             (53,017,527 )1                               
  1

The amount of collateral presented has been limited such that the net amount by counterparty cannot be less than zero.

Short-Term Investments — Each Fund may invest a portion of its assets in high-quality money market instruments on an ongoing basis to provide liquidity or for other reasons. The instruments include short-term obligations issued by the U.S. government, its agencies, non-U.S. government agencies, negotiable certificates of deposit (“CDs”), fixed time deposits and bankers’ acceptances of U.S. and foreign banks and similar institutions, commercial papers, repurchase agreements and money market funds. CDs are short-term negotiable obligations of commercial banks. Time deposits are non-negotiable deposits maintained in banking institutions for specified periods of time at stated interest rates. Banker’s acceptances are time drafts drawn on commercial banks by borrowers, usually in connection with international transactions.

Tax Information and Dividends and Distributions to Shareholders — It is each Fund’s policy to comply with all requirements of the Internal Revenue Code of 1986, as amended (the “Code”). A portion of the Code, known as subchapter M (“Subchapter M”), addresses the ways by which investment companies and investment trusts may pass income through to shareholders in order to avoid double taxation. Each Fund intends to qualify for and to elect treatment as a separate Regulated Investment Company (“RIC”) under Subchapter M of the Code so that it will not be subject to federal income tax on income and gains that are timely distributed to Fund shareholders. Accordingly, no provision for U.S. federal income taxes is required. In order to qualify for the special tax treatment accorded to RICs and their shareholders, each Fund must, among other things, distribute with respect to each taxable year an amount equal to or greater than the sum of 90% of its investment company taxable income and 90% of its net tax-exempt interest income. There can be no guarantee that a Fund will pay dividends. Taxable net realized gains from investment transactions, reduced by capital loss carryforwards, if any, are declared and distributed to shareholders at least annually. The capital loss carryforward amount, if any, is available to offset future net capital gains. The Funds may occasionally be required to make supplemental distributions at some other time during the year. The Trust reserves the right to declare special distributions if, in its reasonable discretion, such action is necessary or advisable to preserve the status of each Fund as a RIC or to avoid imposition of income or excise taxes on undistributed income. Dividends and distributions to shareholders are recorded on the ex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains is determined in accordance with the requirements of the Code and the U.S. Treasury regulations (i.e., tax basis) which may differ to amounts determined under GAAP (i.e., book basis). These book/tax differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the components of net assets based on their Federal tax basis treatment; temporary differences do not require reclassification. Dividends and distributions that exceed earnings and profit for tax purposes are reported for tax purposes as a return of capital.

3. ADVISORY FEES AND OTHER TRANSACTIONS WITH AFFILIATES

WTAM has overall responsibility for the general management and administration of the Trust. WTAM provides an investment program for each Fund. WTAM has arranged for Mellon Investments Corporation (“Mellon”) to provide sub-advisory services to the Funds, except for the International AI Enhanced Value Fund. Prior to January 7, 2022, sub-advisory services for the International AI Enhanced Value Fund were provided by Mellon and thereafter by Voya IM. Mellon and Voya IM are compensated by WTAM at no additional cost to the Funds. WTAM also arranges for transfer agency, custody, fund accounting, fund administration, securities lending and all other non-distribution related services necessary for the Funds to operate, which are generally under separate agreements entered into between the Trust on behalf of the Funds and the applicable service provider. Under the investment advisory agreement for each Fund, WTAM agrees to pay all expenses of the Funds, except for certain expenses described in Note 2.

 

110   WisdomTree Trust


Notes to Financial Statements (continued)

 

Pursuant to a separate contractual arrangement, as also described in Note 2, WTAM arranges for the provision of CCO services with respect to each Fund, and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees in exchange for a fee, accrued daily and paid monthly in arrears, of up to 0.0044% per annum of each Fund’s average daily net assets.

WTAM expects to receive annual advisory fees from each Fund, based on a percentage of the Fund’s average daily net assets, as shown in the following table:

 

   
Fund   

Advisory

Fee Rate

 

Europe Quality Dividend Growth Fund

     0.58

Europe SmallCap Dividend Fund

     0.58

International AI Enhanced Value Fund

     0.58

International Equity Fund

     0.48

International High Dividend Fund

     0.58

International LargeCap Dividend Fund

     0.48

International MidCap Dividend Fund

     0.58

International Multifactor Fund

     0.38

International Quality Dividend Growth Fund

     0.42

International SmallCap Dividend Fund

     0.58

Japan SmallCap Dividend Fund

     0.58

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Transactions in shares of affiliated ETFs for the fiscal year ended March 31, 2023, as applicable, are included in an “Investment in Affiliates” supplementary table in each applicable Fund’s Schedule of Investments. For these transactions, WTAM voluntarily waives a portion of the advisory fees that it would otherwise charge, for each Fund’s investment in affiliated funds. The waivers may be reduced to offset the incremental costs related to these investments (e.g., fund accounting, safekeeping, transaction fees, etc.) that are paid by WTAM out of its advisory fee. The dollar amount of advisory fees waived during the period for the Funds, if any, are included in the Statement of Operations in “Expense waivers”.

During the fiscal year ended March 31, 2023, certain Funds engaged in purchase and sale transactions with funds that have a common investment adviser, WTAM. These interfund purchase and sale transactions were effected in accordance with Rule 17a-7 under the 1940 Act. For the fiscal year ended March 31, 2023, the cost of purchases, proceeds from sales and the net realized gain or loss recognized upon the disposal of securities resulting from interfund transactions are shown in the following table:

 

       
Fund    Purchases      Sales      Net Realized Loss  

Europe Quality Dividend Growth Fund

   $ 10,082,331      $ 5,745,069      $ (2,045,567

Europe SmallCap Dividend Fund

     4,742,361        6,441,746        (1,678,472

International Equity Fund

     20,246,303        15,532,970        (3,480,553

International High Dividend Fund

     10,087,910        12,174,977        (754,023

International LargeCap Dividend Fund

     19,466,788        11,162,811        (1,858,786

International MidCap Dividend Fund

     7,910,858        10,002,547        (2,248,749

International Quality Dividend Growth Fund

     15,637,277        16,649,637        (8,076,323

International SmallCap Dividend Fund

     24,896,146        25,049,476        (7,320,373

Japan SmallCap Dividend Fund

     6,046,883        3,726,292        (2,070,212

 

WisdomTree Trust      111  


Notes to Financial Statements (continued)

 

WTAM and/or WisdomTree (collectively herein, “WT”) may from time to time own shares of a Fund. As of and for the fiscal year ended March 31, 2023, WT held shares of and received distributions from the following Funds, which were purchased through an unaffiliated broker in ordinary brokerage transactions in the secondary market in which the Funds’ shares trade:

 

     
     At March 31, 2023      For the Fiscal Year Ended
March 31, 2023
 
Fund    Fund Shares
held by WT
     Market Value of
Fund Shares
held by WT
     Dividends and
Distributions paid to
WT on
Fund Shares
held by WT
 

Europe Quality Dividend Growth Fund

          $      $ 41  

International Equity Fund

     84        4,177        185  

International Multifactor Fund

     402        10,069        366  

International Quality Dividend Growth Fund

     340        11,516        378  

International SmallCap Dividend Fund

     544        33,151        1,637  

4. CAPITAL SHARE TRANSACTIONS

As of March 31, 2023, there were an unlimited number of $0.001 par value shares of beneficial interest authorized by the Trust. Shares are issued and redeemed by each Fund only in creation units or multiples thereof to an authorized participant (“AP”). Except when aggregated in creation units (“Creation Unit Aggregations”), shares of each Fund are not redeemable. Transactions in shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets. The consideration for the purchase of creation units of a Fund generally consists of the in-kind contribution of a basket of securities (“Deposit Securities”) and/or an amount of cash (“Cash Component”). Creation Unit Aggregations may be created in advance of receipt by a Fund of all or a portion of the applicable Deposit Securities from APs. In these circumstances, the initial deposit received from the AP will have a value greater than the NAV of the applicable Fund’s shares on the date the order is placed in proper form since, in addition to available Deposit Securities, U.S. cash must be deposited by the AP in an amount equal to the sum of (i) the Cash Component, plus (ii) generally between 102%-110%, as directed by the Trust or WTAM, which the Trust or WTAM may change from time to time, of the market value of the undelivered Deposit Securities (the “Additional Cash Deposit”) with the Fund pending delivery of any missing Deposit Securities. The Fund will return any unused portion of the Additional Cash Deposit once all of the missing Deposit Securities have been properly received from the AP or purchased by the Fund. Amounts due to be returned to an AP as of March 31, 2023, if any, is shown in the Statements of Assets and Liabilities in “Payables: Deposit due to authorized participant”. APs purchasing and redeeming creation units may be charged a purchase transaction fee and a redemption transaction fee to offset transfer and other transaction costs associated with the issuance and redemption of creation units.

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments (excluding purchases and sales resulting from in-kind capital share transactions and short-term investments) and the cost of purchases and the proceeds from sales resulting from in-kind capital share transactions (excluding short-term investments) for the fiscal year ended March 31, 2023 are shown in the following table. Realized gains and losses on sales resulting from in-kind capital share redemptions, as shown on the Statements of Operations, are not recognized by the Funds for tax purposes.

 

       
                   In-kind Capital Share Transactions  
Fund    Purchases      Sales      Purchases      Sales  

Europe Quality Dividend Growth Fund

   $ 27,331,297      $ 27,265,919      $ 18,371,901      $ 16,566,062  

Europe SmallCap Dividend Fund

     104,574,950        103,980,884        50,643,394        47,080,795  

International AI Enhanced Value Fund

     128,382,574        128,961,524               36,079,266  

International Equity Fund

     138,769,670        139,647,616        39,903,296        55,842,600  

International High Dividend Fund

     99,999,987        89,370,828        200,572,409         

International LargeCap Dividend Fund

     105,747,315        93,020,388        97,301,739         

International MidCap Dividend Fund

     48,676,204        48,216,933        10,204,448        4,993,761  

International Multifactor Fund

     41,649,722        39,374,869        8,957,802        2,447,447  

International Quality Dividend Growth Fund

     214,931,918        190,832,644        305,339,672        30,357,290  

International SmallCap Dividend Fund

     593,181,511        590,807,533        35,381,403        8,672,055  

Japan SmallCap Dividend Fund

     46,918,577        49,025,149        15,490,476        42,192,402  

 

112   WisdomTree Trust


Notes to Financial Statements (continued)

 

6. FEDERAL INCOME TAXES

At March 31, 2023, the cost of investments (including securities on loan and derivatives) for Federal income tax purposes was as follows:

 

         
    Investments in Long Securities           Investments in Financial Derivatives1        
Fund   Tax Cost    

Gross

Unrealized
Appreciation

   

Gross

Unrealized
Depreciation

   

Net Unrealized
Appreciation/

(Depreciation)

          

Gross

Unrealized
Appreciation

    Gross
Unrealized
Depreciation
    Net Unrealized
Appreciation/
(Depreciation)
   

Total Net
Unrealized
Appreciation/

(Depreciation)

 

Europe Quality Dividend Growth Fund

  $ 63,244,937     $ 8,655,131     $ (1,987,655   $ 6,667,476             $     $     $     $ 6,667,476  

Europe SmallCap Dividend Fund

    277,240,487       28,684,071       (28,597,145     86,926                     (573     (573     86,353  

International AI Enhanced Value Fund

    83,158,680       2,842,176       (5,903,475     (3,061,299             115       (2     113       (3,061,186

International Equity Fund

    531,956,270       101,092,349       (23,524,732     77,567,617                                 77,567,617  

International High Dividend Fund

    422,183,013       38,041,457       (12,394,254     25,647,203                     (166     (166     25,647,037  

International LargeCap Dividend Fund

    442,270,445       91,017,920       (10,794,563     80,223,357                                 80,223,357  

International MidCap Dividend Fund

    137,740,129       14,100,579       (11,011,890     3,088,689                     (102     (102     3,088,587  

International Multifactor Fund

    39,765,354       3,269,261       (947,081     2,322,180               1,491       (14,437     (12,946     2,309,234  

International Quality Dividend Growth Fund

    627,883,075       73,239,095       (14,224,780     59,014,315                                 59,014,315  

International SmallCap Dividend Fund

    1,295,774,266       140,918,191       (131,680,077     9,238,114               402       (411     (9     9,238,105  

Japan SmallCap Dividend Fund

    223,589,062       12,175,150       (30,149,194     (17,974,044                               (17,974,044
  1 

Certain financial derivatives may be considered section 1256 contracts under the Code. Each section 1256 contract held at the close of a taxable year shall be treated as sold for its fair market value on the last business day of such taxable year (and any realized gain and loss shall be taken into account for the taxable year). As such, the unrealized appreciation/(depreciation) for financial derivatives on a tax basis may not correspond to the unrealized appreciation/(depreciation) on a GAAP basis. The unrealized appreciation/(depreciation) for financial derivatives on a GAAP basis is located in the respective financial derivatives tables in each Fund’s Schedule of Investments.

At March 31, 2023, the components of total distributable earnings (loss) on a tax-basis were as follows:

 

             
Fund    Undistributed
Ordinary Income
     Undistributed
Capital and Other
Losses
     Net Unrealized
Appreciation/
(Depreciation)
     Currency and
Other Unrealized
Appreciation/
(Depreciation)
     Oher
Temporary
Differences1
     Total Distributable
Earnings (Loss)
 

Europe Quality Dividend Growth Fund

   $ 61,740      $ (14,502,780    $ 6,667,476      $ 8,551      $      $ (7,765,013

Europe SmallCap Dividend Fund

     331,771        (302,648,418      86,926        (125,705      332,132        (302,023,294

International AI Enhanced Value Fund

     696,329        (69,609,091      (3,061,299      7,838               (71,966,223

International Equity Fund

     2,324,866        (198,383,190      77,567,617        47,726               (118,442,981

International High Dividend Fund

     1,477,397        (93,721,865      25,647,203        22,406               (66,574,859

International LargeCap Dividend Fund

     1,232,488        (123,654,738      80,223,357        58,102               (42,140,791

International MidCap Dividend Fund

     1,154,196        (43,522,831      3,088,689        15,142               (39,264,804

International Multifactor Fund

     171,782        (3,951,431      2,322,180        (7,230             (1,464,699

International Quality Dividend Growth Fund

     566,843        (69,342,328      59,014,315        34,284               (9,726,886

International SmallCap Dividend Fund

     6,450,274        (391,046,482      9,238,114        (245,677      531,376        (375,072,395

Japan SmallCap Dividend Fund

     1,290,521        (120,798,265      (17,974,044      (10,353             (137,492,141
  1 

The treatment of certain income/expense items have been recognized for GAAP but disallowed for tax purposes.

 

WisdomTree Trust      113  


Notes to Financial Statements (continued)

 

The tax character of distributions paid during the fiscal years ended March 31, 2023 and March 31, 2022, was as follows:

 

     
     Year Ended March 31, 2023      Year Ended March 31, 2022  
Fund    Distributions Paid from
Ordinary Income*
     Distributions Paid from
Ordinary Income*
 

Europe Quality Dividend Growth Fund

   $ 1,667,670      $ 1,969,811  

Europe SmallCap Dividend Fund

     14,405,217        8,828,002  

International AI Enhanced Value Fund

     4,170,635        7,009,725  

International Equity Fund

     26,843,795        22,558,337  

International High Dividend Fund

     14,557,836        8,671,887  

International LargeCap Dividend Fund

     18,097,424        13,525,175  

International MidCap Dividend Fund

     5,553,560        5,307,913  

International Multifactor Fund

     1,277,796        1,281,800  

International Quality Dividend Growth Fund

     13,540,674        8,948,267  

International SmallCap Dividend Fund

     62,885,580        47,038,894  

Japan SmallCap Dividend Fund

     7,163,312        4,540,106  
  * 

Includes short-term capital gains, if any.

At March 31, 2023, for Federal tax purposes, the Funds have capital loss carryforwards available to offset future capital gains as indicated in the following table. The loss carryforward amounts do not have an expiration date and, therefore, can be carried forward indefinitely until utilized. To the extent that these loss carryforwards are utilized, capital gains so offset will not be distributed to shareholders. During the fiscal year ended March 31, 2023, the Funds did not utilize any available capital loss carryforward amounts given that there were no tax-basis capital gains.

 

       
Fund    Short-Term      Long-Term      Capital Loss
Available Total
 

Europe Quality Dividend Growth Fund

   $ 10,049,253      $ 4,453,527      $ 14,502,780  

Europe SmallCap Dividend Fund

     104,776,343        197,872,075        302,648,418  

International AI Enhanced Value Fund

     24,978,648        44,630,443        69,609,091  

International Equity Fund

     41,214,018        157,169,172        198,383,190  

International High Dividend Fund

     14,975,798        78,746,067        93,721,865  

International LargeCap Dividend Fund

     22,610,947        101,043,791        123,654,738  

International MidCap Dividend Fund

     9,902,427        33,620,404        43,522,831  

International Multifactor Fund

     3,951,431               3,951,431  

International Quality Dividend Growth Fund

     57,272,310        12,070,018        69,342,328  

International SmallCap Dividend Fund

     245,594,555        145,451,927        391,046,482  

Japan SmallCap Dividend Fund

     72,730,465        48,067,800        120,798,265  

Capital losses incurred after October 31 (“post-October capital losses”) and late year ordinary losses incurred after December 31 within the taxable year are deemed to arise on the first business day of each Fund’s next taxable year. At March 31, 2023, the Funds did not have any post-October capital losses or late year ordinary losses to defer.

At March 31, 2023, the effect of permanent “book/tax” reclassifications resulted in increases (decreases) to the components of net assets as shown in the following table. The differences are primarily due to redemptions-in-kind and net operating losses.

 

     
Fund   

Total
Distributable

Earnings (Loss)

     Paid-in Capital  

Europe Quality Dividend Growth Fund

   $ (988,232    $ 988,232  

Europe SmallCap Dividend Fund

     9,886,028        (9,886,028

International AI Enhanced Value Fund

     2,695,600        (2,695,600

International Equity Fund

     (6,534,469      6,534,469  

International High Dividend Fund

             

International LargeCap Dividend Fund

             

International MidCap Dividend Fund

     (223,042      223,042  

International Multifactor Fund

     (465,795      465,795  

International Quality Dividend Growth Fund

     (2,321,266      2,321,266  

International SmallCap Dividend Fund

     603,094        (603,094

Japan SmallCap Dividend Fund

     5,373,688        (5,373,688

 

114   WisdomTree Trust


Notes to Financial Statements (continued)

 

GAAP provides guidance on tax provisions that prescribe a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. As of and during the fiscal year ended March 31, 2023, the Funds did not have any liabilities for unrecognized tax benefits relating to uncertain income tax positions they have taken or expect to take in the future. If applicable, the Funds will recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in “Other” expenses on the Statements of Operations. The Funds file tax returns with the Internal Revenue Service, the State of New York, and various other states. Specific to U.S. federal and state taxes, generally, each of the tax years in the four-year period ended March 31, 2023, remains subject to examination by taxing authorities. Specific to foreign countries in which the Funds invest, all open tax years remain subject to examination by taxing authorities in the respective jurisdictions.

As a result of several European Court of Justice (“ECJ”) court cases in certain countries across the European Union (“EU”), certain Funds have filed additional tax reclaims for previously withheld taxes on dividends earned in those countries (“ECJ tax reclaims”). These additional filings are subject to various administrative proceedings by the local jurisdictions’ tax authorities within the EU, as well as a number of related judicial proceedings. Income recognized, if any, for ECJ tax reclaims is reflected as “Other income” in the Statements of Operations and the cost to file these additional ECJ tax reclaims is reflected as “Other fees” in the Statements of Operations. When the ECJ tax reclaim is not “more likely than not” to be sustained assuming examination by tax authorities due to the uncertainty that exists as to the ultimate resolution of these proceedings, the likelihood of receipt of these ECJ tax reclaims, and the potential timing of payment, no amounts are reflected in the financial statements. For U.S. income tax purposes, ECJ tax reclaims received by the Funds, if any, reduce the amounts of foreign taxes Fund shareholders can use as tax credits in their individual income tax returns. In the event that ECJ tax reclaims received by a Fund during the fiscal year exceed foreign withholding taxes paid, and a Fund previously passed foreign tax credits on to its shareholders, a Fund must either amend historic tax reporting to shareholders or enter into a closing agreement with the Internal Revenue Service in order to pay the associated tax liability on behalf of the respective Fund’s shareholders. During the fiscal year ended March 31, 2023, the ECJ tax reclaims received by the Funds did not exceed the foreign withholding taxes of the respective Funds.

7. RECENT REGULATORY UPDATE

Effective August 19, 2022, the Funds have adopted policies and procedures to comply with new regulations issued by the SEC governing the use of derivatives by registered investment companies (“Rule 18f -4”). Rule 18f-4 imposes limits on the amount of derivatives a fund can enter into, eliminates the asset segregation framework used by the Funds prior to August 19, 2022 to comply with Section 18 of the 1940 Act, and requires funds, whose use of derivatives is greater than a limited specified amount, to establish and maintain a comprehensive derivatives risk management program and appoint a derivatives risk manager. Rule 18f-4 has not had a material impact on the Funds’ financial statements.

The fair valuation Rule 2a-5 went into effect on September 8, 2022. The Rule sets forth requirements for determining the fair value of portfolio securities and establishes a framework focused on process, testing and oversight. The Rule allows fund boards to designate a valuation designee responsible for performing fair value determinations in good faith. WTAM has been designated as the Valuation Designee for the Funds and is responsible for assessing material risks, establishing fair value methodologies, test ing the appropriateness and accuracy of the methodologies and overseeing third-party pricing vendors. Under the new fair valuation policies, WTAM is responsible for regular quarterly reporting of any material fair valuation matter, annual reporting on the adequacy of the Valuation Designee’s processes, and the prompt notification to the board of any material impact of the fair value process on portfolio investments.

8. RECENT ACCOUNTING PRONOUNCEMENT

In June 2022, the FASB issued Accounting Standards Update No. 2022-03 (“ASU 2022-03”), Fair Value Measurement (Topic 820) — Fair Value Measurement of Equity Securities Subject to Contractual Sales Restrictions. The amendments in ASU 2022-03 clarify that a contractual restriction on a sale of an equity security is not considered a part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The amendments in ASU 2022-03 also require the following disclosures for equity securities subject to contractual sale restrictions: (i) the fair value of equity securities subject to contractual sale restrictions reflected in the balance sheet, (ii) the nature and remaining duration of the restriction(s), and (iii) the circumstances that could cause a lapse in the restriction(s). The amendments in ASU 2022-03 are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years for public business entities (early adoption is also permitted). WTAM has evaluated ASU 2022-03 and determined that the adoption of ASU 2022-03 will not have a significant impact on the Trust’s financial statements and related disclosures.

9. ADDITIONAL INFORMATION

Russia’s military invasion of Ukraine initiated in February 2022 and the economic and diplomatic responses by the United States and

other countries have led to increased volatility and uncertainty in the financial markets and could continue to adversely affect regional and global economies for the foreseeable future. In response to Russia’s actions, the governments of the United States, the

 

WisdomTree Trust      115  


Notes to Financial Statements (concluded)

 

European Union, the United Kingdom, and many other countries collectively imposed heavy and broad-ranging economic sanctions on certain Russian individuals, corporate and banking entities, and other industries and businesses. The sanctions restrict companies from doing business with Russia and Russian companies, prohibit transactions with the Russian central bank and other key Russian financial institutions and entities, ban Russian airlines and ships from using many other countries’ airspace and ports, respectively, and place a freeze on certain Russian assets. The sanctions also removed some Russian banks from the Society for Worldwide Interbank Financial Telecommunications (SWIFT), the electronic network that connects banks globally to facilitate cross-border payments. In addition, the United States has banned oil and other energy imports from Russia, as well as other popular Russian exports, such as diamonds, seafood and vodka. The European Union, the United Kingdom and other countries have also placed restrictions on certain oil, energy and luxury good imports from Russia.

These sanctions, as well as other economic consequences related to the invasion, such as additional sanctions, boycotts, changes in consumer or purchaser preferences, or cyberattacks on governments, companies or individuals, may further decrease the value and liquidity of certain Russian securities as well as securities of issuers in other countries that are subject to or otherwise adversely affected by economic sanctions related to Russia’s invasion of Ukraine, including Russian counter measures. To the extent a Fund has exposure to Russian investments or investments in countries affected by the invasion or the sanctions, the Fund’s ability to price, buy, sell, receive or deliver, or receive dividends and interest payments on such investments may be impaired. In certain circumstances, such as when there is no market for a security or other means of valuing or disposing of a security, a Fund may determine to value the affected security at zero. In addition, any exposure a Fund may have to counterparties in Russia or in countries affected by the invasion could negatively affect the Fund’s portfolio. The extent and duration of Russia’s military actions and the repercussions of such actions are impossible to predict, but could result in continued significant market disruptions, including in the oil and natural gas markets, and may negatively affect global supply chains, inflation and global growth. Further, an escalation of the military conflict beyond Ukraine’s borders could result in significant, long-lasting damage to the economies of Eastern and Western Europe as well as the global economy. These and any related events could significantly and adversely affect a Fund’s performance and the value of an investment in the Fund, even in the absence of direct exposure to Russian issuers or issuers in other countries affected by the invasion.

*    *    *    *    *    *

Financial markets around the world may experience extreme volatility, depressed valuations, decreased liquidity and heightened uncertainty and turmoil resulting from major cybersecurity events, geopolitical events (including wars, such as Russia’s invasion of Ukraine, terror attacks, and disruptions to foreign economic and trade relationships), public health emergencies, such as the COVID-19 pandemic, measures to address budget deficits, downgrading of sovereign debt, and public sentiment, among other events. Resulting market volatility, dramatic changes to interest rates, and otherwise unfavorable economic conditions may negatively impact Fund performance or impair a Fund’s ability to achieve its investment objective.

In March 2023, the financial distress of certain financial institutions raised economic concerns over disruption in the U.S. banking system and regarding the solvency of certain financial services firms. There can be no certainty that the actions taken by the

U.S. government to strengthen public confidence in the U.S. banking system will be effective in mitigating the effects of financial institution failures on the economy and restoring public confidence in the U.S. banking system.

 

116   WisdomTree Trust


Report of Independent Registered Public Accounting Firm

 

To the Shareholders of WisdomTree Europe Quality Dividend Growth Fund, WisdomTree Europe SmallCap Dividend Fund, WisdomTree International AI Enhanced Value Fund, WisdomTree International Equity Fund, WisdomTree International High Dividend Fund, WisdomTree International LargeCap Dividend Fund, WisdomTree International MidCap Dividend Fund, WisdomTree International Multifactor Fund, WisdomTree International Quality Dividend Growth Fund, WisdomTree International SmallCap Dividend Fund and WisdomTree Japan SmallCap Dividend Fund, and the Board of Trustees of WisdomTree Trust

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of WisdomTree Europe Quality Dividend Growth Fund, WisdomTree Europe SmallCap Dividend Fund, WisdomTree International AI Enhanced Value Fund, WisdomTree International Equity Fund, WisdomTree International High Dividend Fund, WisdomTree International LargeCap Dividend Fund, WisdomTree International MidCap Dividend Fund, WisdomTree International Multifactor Fund, WisdomTree International Quality Dividend Growth Fund, WisdomTree International SmallCap Dividend Fund and WisdomTree Japan SmallCap Dividend Fund (collectively referred to as the “Funds”), (eleven of the funds constituting WisdomTree Trust (the “Trust”)), including the schedules of investments, as of March 31, 2023, and the related statements of operations and changes in net assets, and the financial highlights for each of the periods indicated in the table below and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds (eleven of the funds constituting WisdomTree Trust) at March 31, 2023, and the results of their operations, changes in net assets and financial highlights for each of the periods indicated in the table below, in conformity with U.S. generally accepted accounting principles.

 

       

Individual fund constituting the

WisdomTree Trust

   Statement of
operations
   Statements of changes
in net assets
   Financial highlights

WisdomTree Europe Quality Dividend Growth Fund

WisdomTree Europe SmallCap Dividend Fund

WisdomTree International AI Enhanced Value Fund

WisdomTree International Equity Fund

WisdomTree International High Dividend Fund

WisdomTree International LargeCap Dividend Fund

WisdomTree International MidCap Dividend Fund

WisdomTree International Quality Dividend Growth Fund

WisdomTree International SmallCap Dividend Fund

WisdomTree Japan SmallCap Dividend Fund

   For the year ended March 31, 2023    For each of the two years in the period ended March 31, 2023    For each of the five years in the period ended March 31, 2023

WisdomTree International Multifactor Fund

   For the year ended March 31, 2023    For each of the two years in the period ended March 31, 2023    For each of the four years in the period ended March 31, 2023 and the period from August 10, 2018 (commencement of operations) through March 31, 2019

Basis for Opinion

These financial statements are the responsibility of the Trust’s management. Our responsibility is to express an opinion on each of the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust’s internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of March 31, 2023, by correspondence with the custodian, brokers and others; when replies were not received from

 

WisdomTree Trust      117  


Report of Independent Registered Public Accounting Firm (concluded)

 

brokers, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

 

LOGO

We have served as the auditor of one or more WisdomTree investment companies since 2006.

New York, New York

May 30, 2023

 

118   WisdomTree Trust


Liquidity Risk Management Program (unaudited)

 

The Funds adopted a liquidity risk management program (the “Program”) pursuant to the requirements of Rule 22e-4 (the “Rule”) under the Investment Company Act of 1940, as amended. The Rule requires registered open-end funds, including exchange-traded funds such as the Funds, to establish liquidity risk management programs in order to effectively manage fund liquidity and shareholder redemptions. The Rule is designed to mitigate the risk that a Fund could not meet redemption requests without significantly diluting the interest of remaining investors. The Board has appointed WisdomTree Asset Management, Inc., the investment advisor to the Funds, as the Program Administrator for each Fund’s Program.

The Rule requires the Funds to assess, manage and review their liquidity risk at least annually considering applicable factors such as investment strategy and liquidity during normal and foreseeable stressed conditions, including whether the strategy is appropriate for an open-ended fund and whether the Fund has a relatively concentrated portfolio or large positions in particular issuers. The Funds must also assess their use of borrowings and derivatives, short-term and long-term cash flow projections in normal and stressed conditions, holdings of cash and cash equivalents, and borrowing arrangements and other funding sources.

The Rule also requires the Funds to classify their investments into one of four liquidity categories: highly liquid, moderately liquid, less liquid or illiquid based on the number of days a Fund expects it would take to liquidate the investment, and to review these classifications at least monthly or more often under certain conditions. The periods range from three or fewer business days for a highly liquid investment to greater than seven calendar days for settlement of a less liquid investment. Illiquid investments are those a Fund does not expect to be able to sell or dispose of within seven calendar days without significantly changing the market value of the investment. A Fund is prohibited from acquiring an investment if, after the acquisition, its holdings of illiquid assets will exceed 15% of its net assets. In addition, if a Fund permits redemptions in-kind, the Rule requires the Fund to establish redemption in-kind policies and procedures governing how and when it will engage in such redemptions.

Pursuant to the Rule’s requirements, the Program has been reviewed and approved by the Fund’s Board. Furthermore, the Board has received a written report prepared by the Program Administrator that addresses the operation of the Program, assesses its adequacy and effectiveness and describes any material changes made to the Program. The Program Administrator has monitored the Fund’s liquidity risk and the liquidity classifications of the securities held by the Fund and has determined that the Program is operating effectively.

During the period from January 1, 2022 to December 31, 2022, there were no material changes to the Program and no material liquidity events that impacted the Funds. During the period, the Funds held sufficient highly liquid assets to meet fund redemptions.

Under normal expected foreseeable Fund redemption forecasts and foreseeable stressed Fund redemption forecasts, the Program Administrator believes that the Funds maintain sufficient highly liquid assets to meet Fund redemptions.

 

WisdomTree Trust      119  


Trustees and Officers Information (unaudited)

 

Name
and Year of Birth
of Trustee/Officer

 

Position(s) Held with
the Trust, Term of
Office and Length
of Time Served

 

Principal Occupation(s)

During Past 5 Years

  Number of Portfolios
in Fund Complex
Overseen by Trustee/
Officer+
   

Other

Directorships

Held by Trustee

Trustees Who Are Interested Persons of the Trust
Jonathan Steinberg
(1964)
  Trustee, 2005- present; President, 2005-present   Chief Executive Officer, WisdomTree and WisdomTree Asset Management since 2005; President, WisdomTree and WisdomTree Asset Management from 2012 to 2019.     80     Director, WisdomTree and WisdomTree Asset Management.
Trustees Who Are Not Interested Persons of the Trust
David G. Chrencik*
(1948)
  Trustee, 2014-present   Chief Financial Officer of Sarus Indochina Select LP (hedge fund) since 2012; Chief Financial Officer of GeoGreen BioFuels, Inc. (biodiesel fuel producer) from 2010 to 2014; Audit Partner at PricewaterhouseCoopers LLP (public accounting firm) from 1972 to 2009 (includes positions prior to becoming Audit Partner and predecessor firms).     80     None
Joel Goldberg**, ***
(1945)
  Trustee, 2012-present   Attorney, Partner at Stroock & Stroock & Lavan LLP from 2010 to 2018; Attorney, Partner at Willkie Farr & Gallagher LLP from 2006 to 2010.     80     Director, Better Business Bureau (Metropolitan New York, Long Island and the Mid-Hudson Region).
Toni Massaro***
(1955)
  Trustee, 2006-present   Dean Emerita at the University of Arizona James E. Rogers College of Law (“Rogers College of Law”) since 2009 (distinguished Emerita in July 2009); Dean of the Rogers College of Law from 1999 to 2009; Regents’ Professor since 2006; Milton O. Riepe Chair in Constitutional Law since 1997; Professor at the Rogers College of Law since 1990.     80     None

Melinda A. 
Raso Kirstein****

(1955)

  Trustee, 2014-present   Retired since 2004, Merrill Lynch Investment Management, Vice President; Senior Portfolio Manager, Fixed Income Management; Director, Tax Exempt Fund Management.     80     Associate Alumnae of Douglass College, Chair of Investment Committee.
Victor Ugolyn
(1947)
  Trustee, 2006-present; Chairman of the Board, 2006-present   Private Investor, from 2005 to present; President and Chief Executive Officer of William D. Witter, Inc. from 2005 to 2006; Consultant to AXA Enterprise in 2004; Chairman, President and Chief Executive Officer of Enterprise Capital Management (subsidiary of The MONY Group, Inc.) and Enterprise Group of Funds, Chairman of MONY Securities Corporation, and Chairman of the Fund Board of Enterprise Group of Funds from 1991 to 2004.     80     None

 

 

120   WisdomTree Trust


Trustees and Officers Information (unaudited) (concluded)

 

Name
and Year of Birth
of Trustee/Officer

 

Position(s) Held with
the Trust, Term of
Office and Length
of Time Served

 

Principal Occupation(s)

During Past 5 Years

  Number of Portfolios
in Fund Complex
Overseen by Trustee/
Officer+
   

Other

Directorships

Held by Trustee

Officers of the Trust

Jonathan 
Steinberg*****

(1964)

 

President, 2005-

present; Trustee, 2005-present

  Chief Executive Officer, WisdomTree WisdomTree Asset Management since 2005; President, WisdomTree and WisdomTree Asset Management from 2012 to 2019.     80     See Interested
Trustees Table
Above.

David Castano*****

(1971)

  Treasurer, 2013-present   Head of Fund Accounting & Administration, WisdomTree Asset Management, since 2020; Director of Fund Accounting & Administration, Wisdom Tree Asset Management, 2011 to 2020.     80     None

Terry Jane Feld*****

(1960)

  Chief Compliance Officer, 2012-present   Head of U.S. Compliance, WisdomTree Asset Management since 2022; Chief Compliance Officer WisdomTree Asset Management since 2012.     80     None

Joanne Antico*****

(1975)

  Chief Legal Officer and Secretary, 2021-present   General Counsel, WisdomTree Asset Management since 2021; Assistant General Counsel, WisdomTree Asset Management 2016 to 2021; Executive Director and Assistant Secretary, Morgan Stanley Investment Management Inc., 2005 to 2016.     80     None

TJ Darnowski *****

(1984)

  Assistant Secretary, 2021-present   Senior Investment Management Paralegal, WisdomTree Asset Management since 2021; Senior Legal Administrator, Ultimus Fund Solutions, 2019-2021; Assistant Vice President, State Street Bank & Trust Company, 2010 to 2019.     80     None

Clint Martin*****

(1977)

  Assistant Treasurer, 2015-present   Director of Fund Accounting & Administration, WisdomTree Asset Management, since 2020; Fund Manager, Fund Accounting & Administration, WisdomTree Asset Management, 2012 to 2020.     80     None

Angela Borreggine*****

(1964)

  Assistant Secretary, 2021-present   Assistant General Counsel, WisdomTree Asset Management since 2022; Vice President and Senior Counsel, Virtus Investment Partners, 2021-2022; Director, Senior Counsel, Allianz Global Investors, 2007-2021.     80     None

 

+

As of March 31, 2023.

 

*

Chair of the Audit Committee.

 

**

Chair of the Contracts Review Committee.

 

***

Co-Chair of the Governance, Nominating and Compliance Committee.

 

****

Chair of the Investment Committee.

 

*****

Elected by and serves at the pleasure of the Board.

 

WisdomTree Trust      121  


Supplemental Information (unaudited)

 

Federal Income Tax Information

The following Federal tax information related to the Funds’ fiscal year ended March 31, 2023, is provided for information purposes only and should not be used for reporting to federal or state revenue agencies. Federal tax information for the calendar year will be reported to you on Form 1099-DIV in January 2024.

Certain dividends paid by the Funds may be subject to a maximum tax rate of 15%, as provided by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Of the distributions paid during the fiscal year ended March 31, 2023, the following represents the maximum amount of ordinary income distributions that may be considered qualified dividend income:

 

   
Fund    Qualified Dividend
Income
 

Europe Quality Dividend Growth Fund

   $ 1,667,670  

Europe SmallCap Dividend Fund

     12,599,866  

International AI Enhanced Value Fund

     2,552,606  

International Equity Fund

     22,410,715  

International High Dividend Fund

     12,928,175  

International LargeCap Dividend Fund

     16,373,179  

International MidCap Dividend Fund

     3,938,608  

International Multifactor Fund

     1,093,846  

International Quality Dividend Growth Fund

     13,540,674  

International SmallCap Dividend Fund

     47,645,753  

Japan SmallCap Dividend Fund

     4,862,763  

The Funds intend to elect to pass through to shareholders the credit for taxes paid to foreign countries during the fiscal year ended March 31, 2023. The gross foreign source income and foreign taxes paid are as follows:

 

     
Fund    Gross Foreign
Income
    

Foreign

Taxes Paid

 

Europe Quality Dividend Growth Fund

   $ 1,846,659      $ 175,142  

Europe SmallCap Dividend Fund

     13,972,878        1,030,097  

International AI Enhanced Value Fund

     3,984,513        208,505  

International Equity Fund

     27,409,299        1,481,790  

International High Dividend Fund

     15,387,129        853,923  

International LargeCap Dividend Fund

     18,970,965        1,045,954  

International MidCap Dividend Fund

     5,563,898        375,447  

International Multifactor Fund

     1,396,424        76,816  

International Quality Dividend Growth Fund

     14,419,819        1,104,428  

International SmallCap Dividend Fund

     59,586,913        4,474,208  

Japan SmallCap Dividend Fund

     5,121,078        535,728  

 

122   WisdomTree Trust


General Information (unaudited)

 

Proxy Voting Policies, Procedures and Record

A complete copy of the Proxy Voting Policy may be obtained upon request, at no charge, by calling 1-866-909-WISE (9473) or writing to: WisdomTree Trust, c/o Foreside Fund Services, LLC, Three Canal Plaza Suite 100, Portland, ME, 04101.

The Trust is required to disclose annually the Funds’ complete proxy voting record on Form N-PX covering the most recent 12-month period ended June 30 and to file Form N-PX with the SEC no later than August 31 of each year. The current Form N-PX for the Funds is available at no charge upon request by calling 1-866-909-WISE (9473) or through the SEC’s website at www.sec.gov.

Shareholder Reports and Quarterly Portfolio Disclosure

The Funds file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters as an exhibit to their reports on Form N-PORT. Copies of the filings are available, without charge, on the SEC’s website at www.sec.gov and are also available by calling the Trust at 1-866-909-WISE (9473). Copies of the filings may also be obtained, after paying a duplicating fee, by electronic request at the following E-mail address: publicinfo@sec.gov.

Information about each Fund’s portfolio holdings is available daily, without charge, at www.wisdomtree.com/investments.

The Statement of Additional Information (“SAI”) has additional information about the Funds’ Trustees and Officers and is available without charge upon request. Contact your financial representative for a free prospectus or SAI.

Frequency Distribution of Discounts & Premiums

Information about differences between the per share net asset value of each Fund and the market trading price of shares of each Fund are available, without charge, at www.wisdomtree.com/investments.

 

WisdomTree Trust      123  


The WisdomTree Funds are exchange traded funds (“ETFs”) registered with the United States Securities and Exchange Commission as separate series (“Funds”) of WisdomTree Trust (“Trust”). WisdomTree Asset Management, Inc., a wholly owned subsidiary of WisdomTree, Inc., serves as the investment adviser to the Trust. None of the WisdomTree entities are affiliated with Foreside Fund Services, LLC, the Funds’ distributor. WisdomTree, Inc., its affiliates and their independent providers are not liable for any informational errors, incompleteness, delays, or for any actions taken in reliance on information contained herein.

There are risks associated with investing including possible loss of principal. Foreign investing involves special risks, such as risk of loss from currency fluctuation or political or economic uncertainty. Investments in real estate involve additional special risks, such as credit risk, interest rate fluctuations and the effect of varied economic conditions. Funds that focus their investments in one country or region may be significantly impacted by events and developments associated with the region which can adversely affect performance. Funds focusing on a single sector and/or smaller companies generally experience greater price volatility. Investments in emerging, offshore or frontier markets are generally less liquid and less efficient than investments in developed markets and are subject to additional risks, such as risks of adverse governmental regulation and intervention or political developments. Investments in currency involve additional special risks, such as credit risk and interest rate fluctuations. Derivative investments can be volatile and these investments may be less liquid than other securities, and more sensitive to the effect of varied economic conditions. As these Funds can have a high concentration in some issuers the Funds can be adversely impacted by changes affecting such issuers. Dividends are not guaranteed, and a company currently paying dividends may cease paying dividends at any time. Due to the investment strategy of certain Funds they may make higher capital gain distributions than other ETFs. Please read the Fund’s prospectus for specific details regarding the Fund’s risk profile.

Indexes are unmanaged and you cannot invest directly in an index.

Transactions in Fund shares will result in brokerage commissions and will generate tax consequences. Shares may be sold through brokerage accounts, but may be redeemed from the Funds only by Authorized Participants in large creation unit sizes of shares.

This report is intended for the Funds’ shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.


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WisdomTree Trust

Annual Report

March 31, 2023

 

WisdomTree Europe Hedged Equity Fund (HEDJ)

WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)

WisdomTree Germany Hedged Equity Fund (DXGE)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

WisdomTree Japan Hedged Equity Fund (DXJ)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

 

 


Table of Contents

 

Market Environment Overview (unaudited)

       1  

Information about Performance and Shareholder Expense Examples (unaudited)

       2  

Management’s Discussion of Funds’ Performance (unaudited)

       3  

Description of Terms and Indexes (unaudited)

       9  
Schedules of Investments

 

WisdomTree Europe Hedged Equity Fund

       12  

WisdomTree Europe Hedged SmallCap Equity Fund

       15  

WisdomTree Germany Hedged Equity Fund

       19  

WisdomTree International Hedged Quality Dividend Growth Fund

       21  

WisdomTree Japan Hedged Equity Fund

       30  

WisdomTree Japan Hedged SmallCap Equity Fund

       37  

Statements of Assets and Liabilities

       47  

Statements of Operations

       48  

Statements of Changes in Net Assets

       49  

Financial Highlights

       51  

Notes to Financial Statements

       54  

Report of Independent Registered Public Accounting Firm

       67  

Liquidity Risk Management Program (unaudited)

       68  

Trustees and Officers Information (unaudited)

       69  

Supplemental Information (unaudited)

       71  

General Information (unaudited)

       72  

“WisdomTree” is a registered mark of WisdomTree, Inc. (formerly, WisdomTree Investments, Inc.) and is licensed for use by the WisdomTree Trust.


Market Environment Overview

(unaudited)

 

Developed international equity markets, as measured by the MSCI EAFE Index, were roughly flat for the 12-month fiscal year ending March 31, 2023 (the “period”), returning only -1.38% in U.S. dollar (USD) terms despite significant volatility at certain points.

Developed market currencies steadily weakened versus the USD during the period, as an aggressive rate hike campaign by the Federal Reserve in the U.S. created a policy gap that bolstered the USD and weighed on others whose central banks were not keeping pace. The USD also likely benefited due to its perceived status as a global safe-haven currency during market turmoil. The euro steadily weakened against the USD during the fiscal year, weakening by about 2.06%. Although not in Europe, this effect was even more pronounced in the Japanese yen, which is being suppressed by the Bank of Japan in attempt to stimulate economic growth while the rest of the global economy is overheating. The yen weakened by more than 8% versus the USD, though it fell even further during the fall of 2022 before slightly bouncing back. The British pound sterling (GBP) also struggled, weakening by over 6% versus the USD. The lone currency that strengthened among the G10 basket of currencies was the Swiss franc, another beneficiary of safe-haven status during periods of market stress, which rose by about 0.8%.

Similar to the rest of the world, developed international equity markets embarked on a protracted battle against record inflation and strong labor markets for most of 2022, after record monetary and fiscal stimulus to support the post-pandemic economic recovery. Risk-off sentiment from the U.S. Federal Reserve’s campaign to combat inflation migrated to developed markets, and the MSCI EAFE plummeted by 14.5% in USD terms. The European Central Bank (ECB) held its benchmark refinancing rate at 0% during the quarter, but investors quickly surmised that it would soon have to act swiftly and decisively to combat inflation climbing into the 7-8% range. For context, the ECB has held rates at 0% in effort to stimulate economic growth since about 2016, and has held year-over-year inflation under 2% since roughly 2013, so these developments marked a significant paradigm shift. As the largest component of the developed market universe, Eurozone GDP grew 0.7% during the quarter.

Inflation neared its peak during the June to September quarter, reaching 9.9% year-over-year and marking the beginning of what would become five straight months of inflation in the 9-10% range. This weighed on market sentiment, especially as the ECB started to combat it by raising rates 1.25% from 0%. The MSCI EAFE Index fell 9.36% in USD terms, following broader market sentiment around the world with regional indexes heading deeper toward bear market territory. Eurozone gross domestic product (GDP) growth was relatively muted during the quarter at 0.3%.

After two straight quarters of deep declines, the final quarter of 2022 provided some optimism. Europe began to see disinflationary pressures materialize as inflation rolled off its 10.6% high in October. With signs of the ECB’s rate hike effort working so far, this provided a welcome respite to developed market investors, and the MSCI EAFE Index returned 17.34% in USD terms. Eurozone GDP growth was flat during the quarter, slightly declining by 0.1%. Continuing its fight against inflation, the ECB hiked another 1.25% to bring its refinancing rate up to 2.5% by the end of 2022.

Optimism from the end of 2022 continued into the first quarter of 2023, the final quarter of the fiscal period. Disinflation continued in Europe, falling from 9.2% down to 6.9% through March, as the ECB slowed the pace of its rate hike campaign. During the quarter, it raised rates only 1% between two 50 basis point hikes to conclude the period at 3.5%. Rates have not been this high since late 2008 amid a policy rate easing campaign during the Global Financial Crisis. Markets began to believe the end of the fight against inflation was in sight, and the MSCI EAFE Index returned 8.47% in USD terms. The quarter finished on a resounding note, despite fears of a banking crisis originating in the U.S. spreading overseas. Credit Suisse faced major solvency issues but crisis was averted after regulators helped facilitate a sale to UBS to stabilize the banking system, which appeased markets and contributed to the strong finish.

Entering the new fiscal year, many of these risk factors remain paramount, and global financial market performance will be heavily dependent continued improvement in the global banking sector and economic data releases, due to their influence on the future path of monetary policy.

Each WisdomTree Fund’s performance as set forth in “Management’s Discussion of Funds’ Performance” in the pages that follow should also be viewed in light of the foregoing market environment.

 

WisdomTree Trust      1  


Information about Performance and Shareholder Expense Examples (unaudited)

Performance

The performance tables on the following pages are provided for comparative purposes and represent the period noted. Each Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market price return is based on the market price per share of the Fund. The price used to calculate market price returns is the midpoint of the bid and ask price for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other exchange traded funds (“ETFs”), NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors’ assessments of the underlying value of a Fund’s portfolio securities.

Fund shares are bought and sold at market price (not NAV) and are not individually redeemed from a Fund. Fund NAV returns are calculated using a Fund’s daily 4:00 p.m. eastern time NAV. Market price returns reflect the midpoint of the bid and ask price as of the close of trading on the exchange where Fund shares are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.

Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For the most recent month-end performance information visit www.wisdomtree.com/investments.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore, index returns do not reflect deductions for fees or expenses and an index is not available for direct investment. In comparison, the Funds’ performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or taxes that a shareholder would pay on Fund distributions. Past performance is no guarantee of future results.

Shareholder Expense Examples

Each Fund’s performance table is accompanied by a shareholder expense example. As a shareholder of a WisdomTree Fund, you incur two types of cost: (1) transaction costs, including brokerage commissions on purchases and sales of your Fund shares and (2) ongoing costs, including management fees and other Fund expenses. The examples are intended to help you understand your ongoing costs (in dollars and cents) of investing in a Fund and to compare these costs with the ongoing costs of investing in other funds.

The examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire period from October 1, 2022 to March 31, 2023. Except where noted, expenses are calculated using each Fund’s annualized expense ratio (after the effect of contractual or voluntary fee waivers, if any), multiplied by the average account value for the period, multiplied by 182/365 (to reflect the one-half year period). The annualized expense ratio does not include acquired fund fees and expenses (“AFFEs”), which are fees and expenses incurred indirectly by a Fund through its investments in certain underlying investment companies.

Actual expenses

The first line in the shareholder expense example table shown on the following pages provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line for your Fund under the heading entitled “Expenses Paid During the Period” to estimate the expenses you paid on your account during the period.

Hypothetical example for comparison purposes

The second line in the shareholder expense example table shown on the following pages provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in your Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions paid on purchases and sales of Fund shares. Therefore, the second line in the table is useful in comparing ongoing Fund costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

 

2   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree Europe Hedged Equity Fund (HEDJ)

 

Sector Breakdown

 

Sector   % of Net Assets  

Consumer Discretionary

    24.0

Consumer Staples

    15.5

Industrials

    14.2

Materials

    11.9

Financials

    10.0

Information Technology

    9.3

Health Care

    8.1

Communication Services

    5.7

Energy

    0.9

Utilities

    0.1

Other Assets less Liabilities‡

    0.3

Total

    100.0

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Stellantis NV

    6.7%  

ASML Holding NV

    4.3%  

LVMH Moet Hennessy Louis Vuitton SE

    4.1%  

Sanofi

    3.9%  

Banco Bilbao Vizcaya Argentaria SA

    3.9%  

Banco Santander SA

    3.8%  

L’Oreal SA

    3.8%  

Mercedes-Benz Group AG

    3.6%  

Deutsche Telekom AG, Registered Shares

    3.6%  

Bayerische Motoren Werke AG

    3.3%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Europe Hedged Equity Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Europe Hedged Equity Index (the “Index”). In seeking to track the Index, the Fund invests in European dividend-paying companies while at the same time hedging exposure to the fluctuations of the value of the euro relative to the U.S. dollar. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned 13.94% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from strong stock selection effects within the Consumer Discretionary, Information Technology, and Financials sectors. The Health Care and Energy sectors weighed on performance due to allocation effects. The latter was underweighted when it subsequently outperformed while the former was overweighted despite it eventually underperforming. The Fund also benefited from hedging its exposure as the euro weakened steadily versus the U.S. dollar over the fiscal year. This provided a tailwind to European exporters as well, a key focus of the Fund’s investment strategy.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,306.50        0.68   $ 3.91  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,021.54        0.68   $ 3.43  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.58% and the actual and hypothetical expenses paid during the period would have been $3.36 and $2.94, respectively.

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       13.94      19.57      8.12      8.76

Fund Market Price Returns

       14.64      20.22      8.13      8.70

WisdomTree Europe Hedged Equity Index

       14.20      20.14      8.55      9.20

MSCI EMU Local Currency Index

       8.14      16.61      5.98      7.75

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      3  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    22.7%  

Financials

    17.7%  

Materials

    11.7%  

Utilities

    10.1%  

Real Estate

    8.6%  

Consumer Discretionary

    6.2%  

Information Technology

    5.8%  

Communication Services

    5.8%  

Consumer Staples

    4.9%  

Energy

    3.4%  

Health Care

    2.6%  

Other Assets less Liabilities‡

    0.5%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Enagas SA

    2.1%  

Klepierre SA

    2.1%  

ASR Nederland NV

    1.9%  

Rexel SA

    1.8%  

BE Semiconductor Industries NV

    1.7%  

Merlin Properties Socimi SA

    1.7%  

Italgas SpA

    1.6%  

Proximus SADP

    1.5%  

BAWAG Group AG

    1.5%  

Mapfre SA

    1.5%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Europe Hedged SmallCap Equity Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Europe Hedged SmallCap Equity Index (the “Index”). In seeking to track the Index, the Fund invests in European small-cap dividend-paying companies while at the same time hedging exposure to fluctuations of the value of the euro relative to the U.S. dollar. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned 2.53% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from a combination of allocation and stock selection effects within Health Care, and strongly positive stock selection within Industrials. Communication Services weighed on performance due to a combination of both effects, whereas Energy also detracted from performance primarily due to poor stock selection. Overweighting dividend-paying companies was additive during the period, while simultaneously avoiding those that do not pay dividends. The Fund also benefited from hedging its exposure as the euro weakened steadily versus the U.S. dollar over the fiscal year.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,224.90        0.60   $ 3.33  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,021.94        0.60   $ 3.02  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.58% and the actual and hypothetical expenses paid during the period would have been $3.24 and $2.95, respectively.

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      Since Inception1  

Fund NAV Returns

       2.53      17.40      5.51      7.20

Fund Market Price Returns

       3.01      18.32      5.58      7.12

WisdomTree Europe Hedged SmallCap Equity Index

       2.50      17.64      5.60      7.31

MSCI European Economic and Monetary Union (EMU) Small Cap Local Currency Index

       -4.12      17.19      4.62      6.74
1 

Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on March 4, 2015.

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

4   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree Germany Hedged Equity Fund (DXGE)

 

Sector Breakdown

 

Sector   % of Net Assets  

Consumer Discretionary

    22.7%  

Financials

    20.4%  

Industrials

    11.4%  

Materials

    11.3%  

Communication Services

    9.8%  

Health Care

    8.4%  

Utilities

    6.5%  

Information Technology

    6.5%  

Consumer Staples

    2.7%  

Energy

    0.1%  

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Mercedes-Benz Group AG

    9.3%  

Deutsche Telekom AG, Registered Shares

    8.6%  

Allianz SE, Registered Shares

    7.7%  

Bayerische Motoren Werke AG

    6.4%  

BASF SE

    4.8%  

E.ON SE

    4.4%  

SAP SE

    4.1%  

Muenchener Rueckversicherungs -  Gesellschaft AG in Muenchen, Registered Shares

    4.0%  

Deutsche Post AG, Registered Shares

    3.9%  

Bayer AG, Registered Shares

    3.7%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Germany Hedged Equity Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Germany Hedged Equity Index (the “Index”). In seeking to track the Index, the Fund invests in German dividend-paying companies with an exporter tilt while at the same time hedging exposure to fluctuations of the value of the euro relative to the U.S. dollar. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned 11.92% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from allocation effects within Real Estate, which was underweighted when the sector subsequently underperformed the broader German market. Stock selection effects were strongly positive within the Consumer Discretionary sector as well, resulting in a boost to Fund performance. Negative allocation effects occurred within the Information Technology sector, which was underweighted despite the sector then outperforming in Germany. Financials was also a drag on Fund performance due to poor stock selection. The Fund also benefited from hedging its exposure as the euro weakened steadily versus the U.S. dollar over the fiscal year. This provided a tailwind to German exporters as well, a key focus of the Fund’s investment strategy.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,311.20        0.48   $ 2.77  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.54        0.48   $ 2.42  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      Since Inception1  

Fund NAV Returns

       11.92      21.28      6.77      7.88

Fund Market Price Returns

       12.43      21.91      6.72      7.79

WisdomTree Germany Hedged Equity Index

       12.05      21.68      7.00      8.10

MSCI Germany Local Currency Index

       4.70      13.13      2.92      4.84
1 

Total returns are calculated based on the commencement of Fund trading on the NASDAQ on October 17, 2013.

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      5  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

 

Sector Breakdown

 

Sector   % of Net Assets  

Consumer Discretionary

    21.0%  

Consumer Staples

    19.0%  

Health Care

    18.4%  

Industrials

    14.5%  

Information Technology

    11.8%  

Financials

    4.8%  

Communication Services

    3.5%  

Materials

    2.6%  

Utilities

    2.0%  

Energy

    1.1%  

Real Estate

    1.1%  

Investment Company

    0.1%  

Other Assets less Liabilities‡

    0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

LVMH Moet Hennessy Louis Vuitton SE

    6.3%  

Unilever PLC

    4.4%  

Novartis AG, Registered Shares

    4.0%  

Nestle SA, Registered Shares

    4.0%  

GSK PLC

    3.9%  

Industria de Diseno Textil SA

    3.8%  

Novo Nordisk A/S, Class B

    3.2%  

L’Oreal SA

    3.0%  

SAP SE

    2.9%  

ASML Holding NV

    2.6%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree International Hedged Quality Dividend Growth Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree International Hedged Quality Dividend Growth Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying companies with growth characteristics in developed countries, excluding U.S. and Canada, while at the same time hedging exposure to fluctuations of the value of the applicable foreign currencies relative to the U.S. dollar. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned 3.00% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from positions in Real Estate, Communication Services, and Consumer Discretionary. Real Estate’s impact was a result of the allocation effect, where the sector was underweighted and subsequently underperformed the market. The latter two sectors contributed positively due to strong stock selection. Materials was a headwind, as the Fund was overweight and underperforming sector, resulting in a negative allocation effect that was compounded by poor stock selection. Spain and France were positive contributors at the country level, while Switzerland and the United Kingdom detracted. All four countries’ effects were a result of stock selection. Despite quality stocks being rewarded in the U.S. last year, high-quality stocks elsewhere did not have as much success during the period. The performance picture among quintiles ranked by return-on-equity was mixed for the Fund, ultimately due to stock selection effects within each. Lastly, local currency effects also provided a tailwind for the Fund, as most currencies in the developed market universe weakened versus the U.S. dollar for much of the fiscal year. Hedging foreign currency exposure was additive during a period where the U.S. dollar steadily trended higher against other currencies.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,194.40        0.59   $ 3.23  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,021.99        0.59   $ 2.97  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.58% and the actual and hypothetical expenses paid during the period would have been $3.20 and $2.95, respectively.

Performance

 

   
      Average Annual Total Return  
      1 Year      3 Year      5 Year      Since Inception1  

Fund NAV Returns

     3.00      15.28      9.38      8.92

Fund Market Price Returns

     3.73      15.85      9.36      8.88

WisdomTree International Hedged Quality Dividend Growth Index

     3.39      15.92      10.00      9.58

MSCI EAFE Local Currency Index

     3.84      14.63      6.25      6.53
1 

Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on May 7, 2014.

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

6   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree Japan Hedged Equity Fund (DXJ)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    26.3%  

Consumer Discretionary

    16.7%  

Financials

    14.3%  

Materials

    11.6%  

Information Technology

    11.2%  

Health Care

    8.0%  

Consumer Staples

    6.9%  

Communication Services

    3.0%  

Energy

    1.7%  

Real Estate

    0.0%

Other Assets less Liabilities‡

    0.3%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

 

*

Represents less than 0.1%.

Top Ten Holdings*

 

Description   % of Net Assets  

Toyota Motor Corp.

    4.4%  

Mitsubishi UFJ Financial Group, Inc.

    3.8%  

Sumitomo Mitsui Financial Group, Inc.

    2.9%  

Mitsubishi Corp.

    2.9%  

Japan Tobacco, Inc.

    2.7%  

Mitsui & Co. Ltd.

    2.7%  

Takeda Pharmaceutical Co. Ltd.

    2.6%  

Tokyo Electron Ltd.

    2.3%  

Shin-Etsu Chemical Co. Ltd.

    2.2%  

Tokio Marine Holdings, Inc.

    2.2%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Japan Hedged Equity Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Japan Hedged Equity Index (the “Index”). The Fund seeks to provide Japanese equity returns while mitigating or “hedging” against fluctuations between the value of the Japanese yen and the U.S. dollar. In seeking to track the Index, the Fund invests in Japanese dividend-paying companies with an exporter tilt while at the same time hedging exposure to fluctuations of the value of the Japanese yen relative to the U.S. dollar. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned 13.48% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in Industrials, Consumer Staples, and Consumer Discretionary, all due to strong stock selection effects. Health Care was the only notable detractor of all the sectors, largely due to poor stock selection. The Fund’s emphasis on export-oriented companies was additive over the fiscal year, as Japanese exporters outperformed those companies with a predominantly domestic revenue source. This effect was compounded by a weak Japanese yen, which usually provides a tailwind to export-oriented companies. The Fund also benefited from hedging yen exposures as it weakened versus the U.S. dollar, which steadily climbed higher during the period.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,175.30        0.48   $ 2.60  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.54        0.48   $ 2.42  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       13.48      21.96      8.05      9.19

Fund Market Price Returns

       15.01      22.75      7.85      9.15

WisdomTree Japan Hedged Equity Index

       14.09      22.48      8.53      9.89

MSCI Japan Local Currency Index

       3.92      15.15      5.92      8.74

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      7  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

 

Sector Breakdown

 

Sector   % of Net Assets  

Industrials

    26.1%  

Consumer Discretionary

    16.6%  

Materials

    16.5%  

Information Technology

    13.0%  

Financials

    9.3%  

Consumer Staples

    7.3%  

Health Care

    4.8%  

Communication Services

    2.2%  

Real Estate

    1.9%  

Energy

    1.4%  

Utilities

    0.8%  

Other Assets less Liabilities‡

    0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Kobe Steel Ltd.

    1.1%  

Cosmo Energy Holdings Co. Ltd.

    0.9%  

Nippon Steel Trading Corp.

    0.6%  

Aozora Bank Ltd.

    0.6%  

Seven Bank Ltd.

    0.6%  

Nippon Electric Glass Co. Ltd.

    0.6%  

Konica Minolta, Inc.

    0.6%  

Tokyo Seimitsu Co. Ltd.

    0.5%  

K’s Holdings Corp.

    0.5%  

Tokyo Ohka Kogyo Co. Ltd.

    0.5%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Japan Hedged SmallCap Equity Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Japan Hedged SmallCap Equity Index (the “Index”). In seeking to track the Index, the Fund invests in Japanese small-cap dividend-paying companies while at the same time hedging exposure to fluctuations of the value of the Japanese yen relative to the U.S. dollar. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned 17.36% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in Information Technology and Materials due to strongly positive stock selection effects. Consumer Staples was the only negative contributor, which had a modest impact, primarily due to stock selection. Overweighting larger dividend-paying companies was also additive for the Fund as it benefited from positive allocation effects while they outperformed, and positive stock selection within the top two quintiles of dividend-payers compounded the result. The Fund also benefited from hedging yen exposures as it weakened versus the U.S. dollar, which steadily climbed higher during the period.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,123.60        0.58   $ 3.07  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.04        0.58   $ 2.92  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      Since Inception1  

Fund NAV Returns

       17.36      16.24      4.85      9.75

Fund Market Price Returns

       18.85      17.05      4.65      9.68

WisdomTree Japan Hedged SmallCap Equity Index

       18.02      16.89      5.39      10.51

MSCI Japan Small Cap Local Currency Index

       8.09      13.74      3.19      8.94
1 

Total returns are calculated based on the commencement of Fund trading on the NASDAQ on June 28, 2013.

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

8   WisdomTree Trust


Description of Terms and Indexes (unaudited)

 

Below are descriptions of certain terms and of each Index referenced in this report:

Allocation Effect measures an investment manager’s ability to effectively allocate a portfolio’s assets to various segments. A segment refers to assets or securities that are grouped within a certain classification such as sectors, industries, or countries. The allocation effect determines whether the overweighting or underweighting of segments relative to a benchmark contributes positively or negatively to the overall portfolio return. Positive allocation occurs when the portfolio is overweighted in a segment that outperforms the benchmark and underweighted in a segment that underperforms the benchmark. Negative allocation occurs when the portfolio is overweighted in a segment that underperforms the benchmark and underweighted in a segment that outperforms the benchmark.

Growth is generally characterized by higher price levels relative to fundamentals, such as dividends or earnings. Price levels are higher because investors are willing to pay more due to their expectations of future improvements in these fundamentals.

The MSCI EAFE Local Currency Index is a free float-adjusted market capitalization weighted index that is designed to measure developed market equity performance, excluding the U.S. and Canada, calculated in local currency.

The MSCI European Economic and Monetary Union (EMU) Local Currency Index is a free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of the developed market countries within the EMU. The securities are priced in local currency terms with no conversion into U.S. dollars.

The MSCI European Economic and Monetary Union (EMU) Small Cap Local Currency Index is a free float-adjusted market capitalization weighted index that captures small cap representation across the 10 Developed Market countries in the EMU and is calculated in local currency.

The MSCI Germany Local Currency Index is a capitalization weighted index that measures the performance of the Germany equity market and provides local currency returns, which are not translated back to U.S. dollars.

The MSCI Japan Local Currency Index is a free float-adjusted market capitalization index that is designed to measure developed market equity performance in Japan and calculated in local currency.

The MSCI Japan Small Cap Local Currency Index is a free float-adjusted market capitalization index that is designed to measure the performance of small cap stocks within Japan and calculated in local currency.

Quality is generally characterized by higher efficiency and profitability. Typical measures include earnings, return-on-equity, return on assets, operating profitability as well as others. This term is also related to the quality factor, which associates these stock characteristics with excess returns vs. the market over time.

Quintiles refers to separating a universe of companies into five groups of equal size on the basis of dividend yield, price-to-earnings, or return-on-equity, as applicable.

Return-on-Equity (ROE) measures a corporation’s profitability by revealing how much profit a company generates with the money shareholders have invested.

Risk-on and Risk-off refers to investors’ appetites for risk which rise and fall over time. During periods when risk is perceived as low, the risk-on risk-off theory states that investors tend to engage in higher-risk investments (i.e., “Risk-on”). When risk is perceived to be high, investors have the tendency to gravitate toward lower-risk investments (i.e., “Risk-off”).

Selection Effect measures an investment manager’s ability to select securities within a given segment relative to a benchmark. The over or underperformance of the portfolio is weighted by the benchmark weight, therefore, selection is not affected by the investment manager’s allocation to the segment. The weight of the segment in the portfolio determines the size of the effect—the larger the segment, the larger the effect is, positive or negative. A positive selection effect occurs when the portfolio return is greater than the

 

WisdomTree Trust      9  


Description of Terms and Indexes (unaudited) (continued)

 

benchmark return. Thus, the investment manager made good decisions in selecting securities that, as a whole, outperformed similar securities in the benchmark. A negative selection effect occurs when the portfolio return is less than the benchmark return. Thus, the investment manager made poor decisions in selecting securities that, as a whole, underperformed similar securities in the benchmark.

The WisdomTree Europe Hedged Equity Index is designed to provide exposure to European equities while at the same time neutralizing exposure to fluctuations between the Euro and the U.S. dollar.

The WisdomTree Europe Hedged SmallCap Equity Index is designed to provide exposure to the European equity markets while at the same time neutralizing exposure to fluctuations of the Euro movements relative to U.S. dollar.

The WisdomTree Germany Hedged Equity Index is designed to provide exposure to Germany equity markets while at the same time neutralizing exposure to fluctuations of the Euro movements relative to the U.S. dollar. In this sense, the Index “hedges” against fluctuations in the relative value of the Euro against the U.S. dollar.

The WisdomTree International Hedged Quality Dividend Growth Index is designed to provide exposure to the developed market companies while at the same time neutralizing exposure to fluctuations between the value of foreign currencies and the U.S. dollar.

The WisdomTree Japan Hedged Equity Index is designed to provide exposure to Japanese equity markets while at the same time neutralizing exposure to fluctuations of the Japanese Yen movements relative to the U.S. dollar.

The WisdomTree Japan Hedged SmallCap Equity Index is designed to provide exposure to the small-capitalization segment of the Japanese equity markets while at the same time neutralizing exposure to fluctuations of the Japanese Yen movements relative to the U.S. dollar.

The Global Industry Classification Standard (“GICS”) was developed by and is the exclusive property and a service mark of MSCI Inc. (“MSCI”) and Standard & Poor’s (“S&P”), a division of The McGraw-Hill Companies, Inc. and is licensed for use by WisdomTree, Inc. Neither MSCI, S&P nor any other party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI’s express written consent.

WisdomTree, Inc. and WisdomTree Asset Management, Inc. (together, “WisdomTree”) and the Funds make no representation or warranty, express or implied, to the owners of shares of the Funds or any member of the public regarding the advisability of investing in securities generally or in the Funds particularly or the ability of the underlying Indexes to track the performance of their underlying securities. WisdomTree is the licensor of certain trademarks, service marks and trade names of the Funds. WisdomTree has no obligation to take the needs of the Funds or the owners of shares of the Funds into consideration in determining, composing, or calculating the underlying WisdomTree Indexes of the applicable Funds. WisdomTree is not responsible for, and has not

 

10   WisdomTree Trust


Description of Terms and Indexes (unaudited) (concluded)

 

participated in, the determination of the timing of, prices of, or quantities of shares of the Funds to be issued or in the determination or calculation of the equation by which the shares of the Funds are redeemable. WisdomTree and the Funds do not guarantee the accuracy, completeness, or performance of the underlying Indexes or the data included therein and shall have no liability in connection with the underlying Indexes or their calculation.

Index performance information assumes the reinvestment of dividends and excludes management fees, transaction costs and expenses. You cannot directly invest in an index.

* * * * * *

Abbreviations used in the schedules of investments and related tables included in this report are as follows:

 

Currency abbreviations:
      
AUD   Australian dollar    ILS   Israeli new shekel
CHF   Swiss franc    JPY   Japanese yen
DKK   Danish krone    NOK   Norwegian krone
EUR   Euro    SEK   Swedish krona
GBP   British pound    SGD   Singapore dollar
HKD   Hong Kong dollar    USD   U.S. dollar
Other abbreviations:
CVA   Certificaten Van Aandelen (Certificate of Stock)

 

WisdomTree Trust      11  


Schedule of Investments

WisdomTree Europe Hedged Equity Fund (HEDJ)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.7%

 

Austria – 0.9%

 

Andritz AG

     114,141      $ 7,725,728  

AT&S Austria Technologie & Systemtechnik AG

     17,198        529,713  

Lenzing AG

     55,746        4,209,284  
     

 

 

 
Total Austria

 

     12,464,725  
Belgium – 3.7%

 

Anheuser-Busch InBev SA

     389,101        25,926,567  

Barco NV

     38,444        1,146,100  

Bekaert SA

     66,696        3,014,413  

Melexis NV

     42,674        4,933,041  

Solvay SA

     92,992        10,643,632  

UCB SA

     73,979        6,626,072  
     

 

 

 
Total Belgium

 

     52,289,825  
Finland – 3.6%

 

Cargotec Oyj, Class B(a)

     36,283        1,765,213  

Fiskars Oyj Abp(a)

     88,556        1,510,523  

Huhtamaki Oyj(a)

     58,583        2,176,744  

Kemira Oyj

     136,416        2,403,952  

Kone Oyj, Class B

     417,715        21,783,668  

Konecranes Oyj

     96,314        3,227,108  

Metso Outotec Oyj

     530,378        5,785,341  

Nokia Oyj

     1,097,637        5,384,858  

Valmet Oyj(a)

     196,699        6,376,916  
     

 

 

 
Total Finland

 

     50,414,323  
France – 25.6%

 

Air Liquide SA

     106,568        17,853,398  

Airbus SE

     113,667        15,224,279  

Arkema SA

     27,037        2,667,191  

BioMerieux

     9,824        1,035,309  

Bureau Veritas SA(a)

     93,452        2,687,523  

Cie Generale des Etablissements Michelin SCA

     306,264        9,364,981  

Danone SA(a)

     268,575        16,722,673  

Dassault Aviation SA

     14,466        2,869,848  

Dassault Systemes SE(a)

     61,901        2,547,182  

Eramet SA

     17,110        1,788,277  

EssilorLuxottica SA

     68,715        12,392,797  

Gaztransport Et Technigaz SA

     16,455        1,684,064  

Hermes International

     9,365        18,965,461  

Imerys SA(a)

     30,215        1,306,518  

Interparfums SA

     10,973        826,168  

IPSOS

     15,045        933,336  

Kering SA

     31,863        20,770,532  

L’Oreal SA

     118,793        53,077,012  

Lectra

     3,472        137,118  

Legrand SA

     57,327        5,236,747  

LVMH Moet Hennessy Louis Vuitton SE(a)

     62,903        57,707,105  

Neoen SA(a)(b)

     1,635        51,425  

Nexans SA

     7,816        776,990  

Pernod Ricard SA

     88,761        20,125,855  

Publicis Groupe SA

     101,565        7,920,585  

Remy Cointreau SA

     5,592        1,020,672  

Rubis SCA

     73,477        1,969,383  

Sanofi

     502,418      54,716,203  

Sartorius Stedim Biotech(a)

     3,075        942,115  

Schneider Electric SE

     124,493        20,786,051  

Societe BIC SA

     13,466        850,011  

Sodexo SA

     20,752        2,030,494  

Teleperformance(a)

     6,574        1,583,453  

Valeo(a)

     46,902        963,591  
     

 

 

 
Total France

 

     359,534,347  
Germany – 24.0%

 

adidas AG

     61,470        10,871,112  

AIXTRON SE

     8,867        300,856  

BASF SE

     626,701        32,927,320  

Bayer AG, Registered Shares

     364,200        23,234,626  

Bayerische Motoren Werke AG

     417,082        45,739,820  

Beiersdorf AG

     17,007        2,216,347  

Brenntag SE

     35,757        2,688,295  

Deutsche Telekom AG, Registered Shares

     2,095,322        50,878,934  

Duerr AG

     9,928        356,378  

Evonik Industries AG

     267,961        5,636,203  

GEA Group AG

     41,892        1,909,294  

Hannover Rueck SE

     61,022        11,956,726  

Hapag-Lloyd AG(a)(b)

     70,090        22,997,081  

HeidelbergCement AG

     94,167        6,881,218  

Henkel AG & Co. KGaA

     72,496        5,277,139  

Hochtief AG

     26,158        2,184,312  

HUGO BOSS AG

     15,415        1,107,353  

Infineon Technologies AG

     126,873        5,193,855  

Jenoptik AG

     6,917        235,369  

Krones AG

     6,707        792,077  

Mercedes-Benz Group AG

     663,537        51,025,281  

Merck KGaA

     13,169        2,454,445  

MTU Aero Engines AG

     6,008        1,505,216  

Puma SE(a)

     23,752        1,467,293  

SAP SE

     227,431        28,677,543  

Siemens Healthineers AG(b)

     189,484        10,914,956  

Siltronic AG

     13,496        985,335  

Symrise AG

     13,135        1,429,906  

Wacker Chemie AG

     34,050        5,526,847  
     

 

 

 
Total Germany

 

     337,371,137  
Ireland – 2.5%

 

CRH PLC

     563,522        28,453,781  

Glanbia PLC

     168,503        2,445,816  

Kerry Group PLC, Class A

     37,877        3,779,350  
     

 

 

 
Total Ireland

 

     34,678,947  
Italy – 2.2%

 

Brunello Cucinelli SpA(a)

     15,128        1,503,055  

Carel Industries SpA(b)

     10,608        290,432  

Davide Campari-Milano NV

     156,284        1,910,191  

DiaSorin SpA(a)

     7,902        833,272  

Ferrari NV(a)

     42,059        11,391,763  

Leonardo SpA

     232,850        2,737,242  

Moncler SpA

     70,708        4,881,187  

Prysmian SpA

     91,177        3,833,593  

 

See Notes to Financial Statements.

 

12   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Europe Hedged Equity Fund (HEDJ)

March 31, 2023

 

 

 

Investments    Shares      Value  

Reply SpA(a)

     5,495      $ 689,540  

Salvatore Ferragamo SpA(a)

     80,334        1,470,649  

Webuild SpA(a)

     813,519        1,856,080  
     

 

 

 
Total Italy

 

     31,397,004  
Netherlands – 17.9%

 

Aegon NV

     2,048,767        8,794,462  

Arcadis NV

     57,529        2,360,090  

ASM International NV

     9,466        3,824,744  

ASML Holding NV

     88,518        60,125,717  

BE Semiconductor Industries NV

     107,342        9,341,399  

Corbion NV

     23,932        786,268  

Heineken Holding NV

     127,004        11,666,503  

Heineken NV(a)

     304,311        32,751,084  

IMCD NV(a)

     14,571        2,380,931  

JDE Peet’s NV

     267,080        7,782,334  

Koninklijke Ahold Delhaize NV(a)

     775,316        26,525,349  

Koninklijke DSM NV

     76,927        9,084,856  

Koninklijke Vopak NV

     172,014        6,071,880  

OCI NV

     716,129        24,321,477  

SBM Offshore NV(a)

     300,120        4,458,944  

Signify NV(b)

     142,677        4,749,550  

Universal Music Group NV(a)

     785,440        19,887,117  

Wolters Kluwer NV

     128,481        16,241,084  
     

 

 

 
Total Netherlands

 

     251,153,789  
Portugal – 0.1%

 

Altri SGPS SA(a)

     166,019        856,042  
Spain – 11.3%

 

Acerinox SA

     508,757        5,236,649  

ACS Actividades de Construccion y Servicios SA(a)

     705,525        22,497,291  

Banco Bilbao Vizcaya Argentaria SA(a)

     7,622,142        54,414,947  

Banco Santander SA

     14,318,887        53,297,437  

Cie Automotive SA

     78,939        2,272,727  

Ebro Foods SA(a)

     96,308        1,705,531  

Fluidra SA(a)

     197,848        3,480,072  

Mapfre SA(a)

     5,843,279        11,795,383  

Viscofan SA

     45,157        3,238,014  
     

 

 

 
Total Spain               157,938,051  
Switzerland – 0.5%      

STMicroelectronics NV

     136,124        7,240,048  
United Kingdom – 0.7%      

CNH Industrial NV

     625,037        9,561,325  
United States – 6.7%      

Stellantis NV(a)

     5,132,977        93,332,026  

TOTAL COMMON STOCKS

(Cost: $1,169,000,314)

 

 

     1,398,231,589  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 7.6%

 

United States – 7.6%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 4.84%(c)

 

  
(Cost: $107,373,045)      107,373,045      107,373,045  

TOTAL INVESTMENTS IN SECURITIES – 107.3%

(Cost: $1,276,373,359)

 

 

     1,505,604,634  

Other Assets less Liabilities – (7.3)%

 

     (103,008,976
     

 

 

 
NET ASSETS – 100.0%

 

   $ 1,402,595,658  
(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $115,886,867. The Fund also had securities on loan having a total market value of $116,050 that were sold and pending settlement. The total market value of the collateral held by the Fund was $122,583,698. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $15,210,653.

 

(b) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

 

See Notes to Financial Statements.

 

WisdomTree Trust      13  


Schedule of Investments (concluded)

WisdomTree Europe Hedged Equity Fund (HEDJ)

March 31, 2023

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

Barclays Bank PLC

    4/5/2023       4,009,316       USD       3,791,387       EUR     $     $ (110,060

Citibank NA

    4/5/2023       340,791,839       USD       320,702,098       EUR             (7,653,886

Goldman Sachs

    4/5/2023       315,508,193       EUR       342,796,497       USD       6,004        

Goldman Sachs

    4/5/2023       340,791,839       USD       320,706,625       EUR             (7,658,804

Goldman Sachs

    5/4/2023       348,087,916       USD       319,860,249       EUR             (9,246

JP Morgan Chase Bank NA

    4/5/2023       315,506,161       EUR       342,796,497       USD       3,795        

JP Morgan Chase Bank NA

    4/5/2023       4,009,316       USD       3,772,934       EUR             (90,011

JP Morgan Chase Bank NA

    4/5/2023       340,791,839       USD       320,702,399       EUR             (7,654,213

JP Morgan Chase Bank NA

    5/4/2023       348,087,916       USD       319,856,134       EUR             (4,768

Royal Bank of Canada

    4/5/2023       315,505,580       EUR       342,796,497       USD       3,164        

Royal Bank of Canada

    4/5/2023       340,791,838       USD       320,703,304       EUR             (7,655,197

Royal Bank of Canada

    5/4/2023       348,087,916       USD       319,854,665       EUR             (3,169

Standard Chartered Bank

    4/5/2023       315,502,385       EUR       342,796,496       USD             (306

Standard Chartered Bank

    5/4/2023       348,087,917       USD       319,851,433       EUR       350        
                                            $ 13,313     $ (30,839,660

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

     

Investments in Securities

  

Common Stocks

   $ 1,398,231,589      $      $      $ 1,398,231,589  

Investment of Cash Collateral for Securities Loaned

            107,373,045               107,373,045  

Total Investments in Securities

   $ 1,398,231,589      $ 107,373,045      $      $ 1,505,604,634  

Financial Derivative Instruments

  

Foreign Currency Contracts1

   $      $ 13,313      $      $ 13,313  

Liabilities:

 

     

Financial Derivative Instruments

  

Foreign Currency Contracts1

   $      $ (30,839,660    $      $ (30,839,660

Total – Net

   $ 1,398,231,589      $ 76,546,698      $      $ 1,474,778,287  
1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

14   WisdomTree Trust


Schedule of Investments

WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.5%

 

Austria – 7.5%

 

Andritz AG

     9,996      $ 676,588  

AT&S Austria Technologie & Systemtechnik AG

     1,635        50,359  

BAWAG Group AG*(a)

     15,194        737,226  

EVN AG

     10,523        233,799  

Lenzing AG

     4,733        357,381  

Oesterreichische Post AG

     7,124        263,542  

Porr AG

     2,199        32,253  

S IMMO AG

     4,206        60,684  

Schoeller-Bleckmann Oilfield Equipment AG

     419        26,995  

Semperit AG Holding

     1,389        37,425  

Telekom Austria AG*

     10,009        75,576  

UNIQA Insurance Group AG

     23,035        194,205  

Vienna Insurance Group AG Wiener Versicherung Gruppe

     4,567        122,805  

Voestalpine AG

     17,927        609,234  

Wienerberger AG

     7,045        203,904  
     

 

 

 
Total Austria

 

     3,681,976  
Belgium – 7.7%

 

Ackermans & van Haaren NV

     1,213        200,315  

Aedifica SA

     3,053        245,785  

Barco NV

     3,365        100,318  

Bekaert SA

     5,740        259,427  

bpost SA

     24,084        137,241  

Cofinimmo SA

     5,922        524,689  

Econocom Group SA/NV

     2,701        8,686  

Etablissements Franz Colruyt NV

     11,385        332,980  

Euronav NV

     2,751        45,878  

Fagron

     2,258        38,589  

Intervest Offices & Warehouses NV

     2,555        48,578  

Melexis NV

     2,746        317,433  

Proximus SADP

     78,319        756,787  

Recticel SA

     2,038        37,951  

VGP NV

     3,554        317,394  

Warehouses De Pauw CVA

     11,022        327,153  

Xior Student Housing NV(b)

     2,116        71,267  
     

 

 

 
Total Belgium

 

     3,770,471  
Denmark – 0.1%

 

Cementir Holding NV

     6,286        53,884  
Finland – 9.2%

 

Cargotec Oyj, Class B

     3,142        152,862  

Caverion Oyj

     7,479        69,636  

Citycon Oyj(b)

     24,119        164,955  

Harvia Oyj

     1,620        38,580  

Huhtamaki Oyj

     5,221        193,995  

Kemira Oyj

     8,935        157,455  

Kesko Oyj, Class B

     28,237        607,580  

Kojamo Oyj

     12,750        150,297  

Konecranes Oyj

     8,254        276,559  

Lassila & Tikanoja Oyj

     2,078        22,802  

Metsa Board Oyj, Class B(b)

     24,394        196,651  

Metso Outotec Oyj

     46,946        512,085  

Musti Group Oyj*

     1,434      25,099  

Orion Oyj, Class B

     6,670        298,488  

Outokumpu Oyj(b)

     34,032        185,684  

Puuilo Oyj

     10,035        73,265  

Raisio Oyj, Class V

     11,698        31,900  

Rovio Entertainment Oyj(a)

     3,334        28,271  

Sanoma Oyj

     3,283        28,927  

Terveystalo Oyj(a)

     9,036        68,916  

TietoEVRY Oyj

     12,803        402,272  

Tokmanni Group Corp.

     8,764        121,020  

Uponor Oyj

     6,986        129,257  

Valmet Oyj(b)

     17,081        553,760  
     

 

 

 
Total Finland

 

     4,490,316  
France – 16.8%

 

Alten SA

     704        112,358  

Antin Infrastructure Partners SA

     2,546        46,166  

Arkema SA

     5,117        504,790  

Beneteau SA

     4,497        75,241  

Cie Plastic Omnium SA

     5,589        101,891  

Coface SA

     22,436        318,102  

Derichebourg SA

     21,948        128,765  

Elis SA

     14,253        273,159  

Eramet SA

     3,146        328,809  

Etablissements Maurel et Prom SA

     17,182        64,309  

Eurazeo SE

     4,480        318,808  

Fnac Darty SA

     3,047        112,488  

Gaztransport Et Technigaz SA

     3,015        308,566  

Imerys SA

     6,025        260,525  

Interparfums SA

     2,049        154,271  

IPSOS

     2,812        174,446  

Klepierre SA(b)

     44,809        1,015,035  

Lectra

     1,324        52,288  

LISI(b)

     1,526        40,453  

Maisons du Monde SA(a)

     4,494        48,361  

Neoen SA(a)(b)

     688        21,640  

Nexans SA

     1,400        139,174  

Quadient SA

     2,280        41,566  

Rexel SA*

     37,865        902,989  

Rothschild & Co.

     1,822        92,146  

Rubis SCA

     16,347        438,144  

Societe BIC SA

     2,672        168,664  

Sopra Steria Group SACA

     872        183,129  

SPIE SA

     8,270        240,257  

Technip Energies NV

     11,737        250,634  

Television Francaise 1

     26,503        234,241  

Trigano SA

     636        82,918  

Valeo

     9,070        186,341  

Verallia SA(a)

     7,916        337,993  

Vicat SA

     4,024        120,882  

Wendel SE

     3,049        322,480  
     

 

 

 
Total France

 

     8,202,029  

 

See Notes to Financial Statements.

 

WisdomTree Trust      15  


Schedule of Investments (continued)

WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)

March 31, 2023

 

 

 

Investments    Shares      Value  
Germany – 13.6%

 

7C Solarparken AG

     6,020      $ 24,723  

AIXTRON SE

     2,174        73,763  

alstria office REIT AG

     664        4,390  

AURELIUS Equity Opportunities SE & Co. KGaA

     3,655        58,969  

Aurubis AG

     2,134        197,210  

BayWa AG

     1,624        71,723  

Bechtle AG

     3,461        165,411  

Bilfinger SE

     2,991        127,058  

CompuGroup Medical SE & Co. KGaA

     1,294        66,610  

CropEnergies AG

     4,737        58,156  

Dermapharm Holding SE

     5,364        220,171  

Deutz AG

     9,827        63,792  

Duerr AG

     2,467        88,556  

Encavis AG

     7,440        127,553  

Energiekontor AG

     382        27,558  

Fielmann AG

     4,983        207,781  

Freenet AG

     18,037        469,331  

GEA Group AG

     8,315        378,969  

Gerresheimer AG

     1,223        121,114  

Hamborner REIT AG

     7,010        55,673  

Hamburger Hafen und Logistik AG

     5,593        69,151  

Hensoldt AG

     2,150        77,551  

Hochtief AG

     5,190        433,389  

Hornbach Holding AG & Co. KGaA

     1,100        88,019  

HUGO BOSS AG

     2,839        203,943  

Indus Holding AG

     2,372        64,426  

Instone Real Estate Group SE(a)

     6,996        59,286  

JOST Werke AG(a)

     788        41,650  

K & S AG, Registered Shares

     4,904        104,401  

Kloeckner & Co. SE

     23,115        248,747  

Krones AG

     1,289        152,227  

Mutares SE & Co. KGaA

     2,310        49,240  

Rheinmetall AG

     1,665        494,926  

SAF-Holland SE

     4,466        57,012  

Salzgitter AG

     3,763        148,815  

Scout24 SE(a)

     2,378        141,322  

Siltronic AG

     2,658        194,059  

Sixt SE

     2,289        304,892  

Stroeer SE & Co. KGaA

     5,169        273,268  

Suedzucker AG

     18,407        309,573  

Synlab AG

     11,284        117,446  

United Internet AG, Registered Shares

     9,966        171,833  

Varta AG(b)

     6,175        169,398  

VERBIO Vereinigte BioEnergie AG

     345        16,200  

Wacker Neuson SE

     3,637        76,223  
     

 

 

 
Total Germany

 

     6,675,508  
Ireland – 0.6%

 

Cairn Homes PLC

     60,572        67,125  

Glanbia PLC

     14,299        207,549  

Origin Enterprises PLC

     9,732        43,668  
     

 

 

 
Total Ireland

 

     318,342  
Italy – 18.7%

 

A2A SpA

     431,506      689,150  

ACEA SpA

     10,611        145,257  

Alerion Cleanpower SpA

     1,882        60,421  

Anima Holding SpA(a)

     56,109        228,355  

Ariston Holding NV

     3,394        37,427  

Arnoldo Mondadori Editore SpA

     17,568        37,296  

Azimut Holding SpA(b)

     20,850        446,254  

Banca Generali SpA(b)

     14,108        450,326  

Banca Mediolanum SpA

     70,639        641,441  

Banca Popolare di Sondrio SpA

     40,883        173,849  

Banco BPM SpA(b)

     181,367        710,351  

BPER Banca(b)

     88,019        217,363  

Brembo SpA

     15,602        228,836  

Brunello Cucinelli SpA

     1,312        130,355  

Buzzi Unicem SpA

     8,578        208,386  

Cairo Communication SpA

     22,751        46,222  

Carel Industries SpA(a)

     1,281        35,072  

Credito Emiliano SpA

     14,715        109,032  

Danieli & C. Officine Meccaniche SpA(b)

     2,205        58,573  

De’ Longhi SpA

     12,285        281,089  

El.En. SpA

     2,386        31,185  

Enav SpA(a)

     25,114        105,211  

ERG SpA

     12,173        369,781  

Esprinet SpA(b)

     7,053        70,650  

Hera SpA

     144,576        408,708  

Immobiliare Grande Distribuzione SIIQ SpA(b)

     19,813        60,918  

Interpump Group SpA

     1,420        79,683  

Iren SpA

     168,850        323,784  

Italgas SpA

     132,053        807,013  

Italian Sea Group SpA

     2,541        22,748  

Leonardo SpA

     19,806        232,827  

Maire Tecnimont SpA(b)

     36,658        157,636  

MARR SpA

     5,232        75,260  

OVS SpA(a)

     12,094        31,666  

Piaggio & C. SpA

     32,959        140,798  

RAI Way SpA(a)

     14,333        86,269  

Reply SpA

     445        55,841  

Salcef Group SpA

     3,180        74,281  

Salvatore Ferragamo SpA(b)

     7,014        128,403  

Sanlorenzo SpA(b)

     1,245        54,105  

SOL SpA

     1,982        53,188  

Technogym SpA(a)

     9,063        80,692  

Unieuro SpA(a)(b)

     4,433        52,304  

Unipol Gruppo SpA

     87,573        451,076  

Webuild SpA(b)

     71,575        163,302  

Zignago Vetro SpA

     4,761        92,900  
     

 

 

 
Total Italy

 

     9,145,284  
Netherlands – 8.0%

 

Aalberts NV

     5,602        264,206  

AMG Advanced Metallurgical Group NV

     1,266        53,945  

Arcadis NV

     5,052        207,255  

ASR Nederland NV

     22,735        907,494  

 

See Notes to Financial Statements.

 

16   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)

March 31, 2023

 

 

 

Investments    Shares      Value  

BE Semiconductor Industries NV(b)

     9,407      $ 818,641  

Corbion NV

     2,378        78,127  

ForFarmers NV(b)

     14,471        51,175  

Heijmans NV, CVA

     6,575        90,293  

Koninklijke Vopak NV

     15,238        537,883  

Ordina NV

     10,615        68,735  

SBM Offshore NV

     25,510        379,007  

Signify NV(a)

     12,403        412,881  

Sligro Food Group NV

     2,241        38,371  
     

 

 

 
Total Netherlands

 

     3,908,013  
Portugal – 2.6%

 

Altri SGPS SA(b)

     15,536        80,108  

Banco Comercial Portugues SA, Class R

     182,976        40,554  

Corticeira Amorim SGPS SA

     5,814        63,166  

CTT – Correios de Portugal SA

     11,884        46,675  

Mota-Engil SGPS SA

     26,023        44,897  

Navigator Co. SA

     65,253        233,667  

NOS SGPS SA

     65,812        301,450  

REN – Redes Energeticas Nacionais SGPS SA

     85,447        250,651  

Sonae SGPS SA

     199,417        217,740  
     

 

 

 
Total Portugal

 

     1,278,908  
Spain – 14.7%

 

Acerinox SA

     44,425        457,268  

Almirall SA

     6,669        62,312  

Applus Services SA

     6,737        52,663  

Banco de Sabadell SA(b)

     398,030        427,596  

Bankinter SA(b)

     100,073        568,193  

Cia de Distribucion Integral Logista Holdings SA

     21,750        543,497  

Cie Automotive SA

     6,591        189,761  

Construcciones y Auxiliar de Ferrocarriles SA

     2,693        74,901  

Ebro Foods SA(b)

     4,034        71,439  

Enagas SA

     54,135        1,041,025  

Ence Energia y Celulosa SA

     34,812        129,728  

Ercros SA

     5,999        28,384  

Faes Farma SA

     27,386        93,724  

Fluidra SA

     18,486        325,162  

Gestamp Automocion SA(a)

     24,498        111,041  

Global Dominion Access SA(a)

     8,702        34,130  

Grupo Catalana Occidente SA

     2,270        71,644  

Indra Sistemas SA(b)

     5,661        76,572  

Inmobiliaria Colonial Socimi SA

     44,376        280,837  

Laboratorios Farmaceuticos Rovi SA

     2,935        122,702  

Linea Directa Aseguradora SA Cia de Seguros y Reaseguros(b)

     73,092        78,815  

Mapfre SA

     364,003        734,785  

Merlin Properties Socimi SA

     92,267        807,962  

Neinor Homes SA(a)

     7,570        74,513  

Pharma Mar SA(b)

     336        16,142  

Prosegur Cash SA(a)(b)

     30,816        23,637  

Prosegur Cia de Seguridad SA

     35,372        70,365  

Sacyr SA(b)

     58,112        186,882  

Talgo SA(a)(b)

     8,031        27,267  

Unicaja Banco SA(a)(b)

     142,204      152,644  

Viscofan SA

     3,527        252,906  
     

 

 

 
Total Spain

 

     7,188,497  
TOTAL COMMON STOCKS
(Cost: $48,636,900)

 

     48,713,228  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 10.9%

 

United States – 10.9%

 

State Street Navigator Securities Lending     Government Money Market Portfolio, 4.84%(c)
(Cost: $5,360,042)
     5,360,042        5,360,042  

TOTAL INVESTMENTS IN SECURITIES – 110.4%

(Cost: $53,996,942)

 

 

     54,073,270  

Other Assets less Liabilities – (10.4)%

 

     (5,106,620
     

 

 

 
NET ASSETS – 100.0%

 

   $ 48,966,650  

 

* 

Non-income producing security.

 

(a) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(b) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $5,609,582. The Fund also had securities on loan having a total market value of $9,254 that were sold and pending settlement. The total market value of the collateral held by the Fund was $5,930,067. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $570,025.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

See Notes to Financial Statements.

 

WisdomTree Trust      17  


Schedule of Investments (concluded)

WisdomTree Europe Hedged SmallCap Equity Fund (EUSC)

March 31, 2023

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

Barclays Bank PLC

    4/5/2023       17,480,514       USD       16,530,350       EUR     $     $ (479,860

Citibank NA

    4/5/2023       8,303,244       USD       7,813,766       EUR             (186,484

Goldman Sachs

    4/5/2023       11,664,510       EUR       12,673,373       USD       222        

Goldman Sachs

    4/5/2023       8,303,244       USD       7,813,877       EUR             (186,603

Goldman Sachs

    5/4/2023       12,221,604       USD       11,230,511       EUR             (325

JP Morgan Chase Bank NA

    4/5/2023       11,664,434       EUR       12,673,373       USD       140        

JP Morgan Chase Bank NA

    4/5/2023       8,303,244       USD       7,813,774       EUR             (186,491

JP Morgan Chase Bank NA

    5/4/2023       12,221,604       USD       11,230,367       EUR             (167

Royal Bank of Canada

    4/5/2023       11,664,413       EUR       12,673,373       USD       117        

Royal Bank of Canada

    4/5/2023       8,303,245       USD       7,813,797       EUR             (186,516

Royal Bank of Canada

    5/4/2023       12,221,604       USD       11,230,315       EUR             (111

Standard Chartered Bank

    4/5/2023       11,664,294       EUR       12,673,372       USD             (11

Standard Chartered Bank

    5/4/2023       12,221,602       USD       11,230,200       EUR       12        
                                            $ 491     $ (1,226,568

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

     

Investments in Securities

  

Common Stocks

   $ 48,713,228      $      $      $ 48,713,228  

Investment of Cash Collateral for Securities Loaned

            5,360,042               5,360,042  

Total Investments in Securities

   $ 48,713,228      $ 5,360,042      $      $ 54,073,270  

Financial Derivative Instruments

  

Foreign Currency Contracts1

   $      $ 491      $      $ 491  

Liabilities:

 

     

Financial Derivative Instruments

  

Foreign Currency Contracts1

   $      $ (1,226,568    $      $ (1,226,568

Total – Net

   $ 48,713,228      $ 4,133,965      $      $ 52,847,193  
1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

18   WisdomTree Trust


Schedule of Investments

WisdomTree Germany Hedged Equity Fund (DXGE)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.8%

 

Germany – 99.8%

 

Aerospace & Defense – 1.3%

 

Hensoldt AG

     665      $ 23,986  

MTU Aero Engines AG

     396        99,212  

Rheinmetall AG

     553        164,381  
     

 

 

 
Total Aerospace & Defense

 

     287,579  
Air Freight & Logistics – 3.9%

 

Deutsche Post AG, Registered Shares

     18,317        857,513  
Automobile Components – 0.2%

 

Hella GmbH & Co. KGaA

     422        36,747  
Automobiles – 18.2%

 

Bayerische Motoren Werke AG

     12,648        1,387,059  

Mercedes-Benz Group AG

     26,351        2,026,363  

Volkswagen AG

     3,338        572,998  
     

 

 

 
Total Automobiles

 

     3,986,420  
Capital Markets – 4.1%

 

Deutsche Bank AG, Registered Shares

     27,510        279,634  

Deutsche Boerse AG

     2,312        450,756  

DWS Group GmbH & Co. KGaA(a)

     5,207        160,210  
     

 

 

 
Total Capital Markets

 

     890,600  
Chemicals – 8.6%

 

BASF SE

     19,794        1,039,991  

Evonik Industries AG

     17,645        371,139  

K & S AG, Registered Shares

     1,543        32,849  

Symrise AG

     828        90,138  

Wacker Chemie AG

     2,191        355,634  
     

 

 

 
Total Chemicals

 

     1,889,751  
Commercial Services & Supplies – 0.2%

 

Bilfinger SE

     931        39,549  
Construction & Engineering – 0.6%

 

Hochtief AG

     1,704        142,292  
Construction Materials – 2.1%

 

HeidelbergCement AG

     6,249        456,643  
Diversified Telecommunication Services – 9.8%

 

Deutsche Telekom AG, Registered Shares

     77,603        1,884,368  

Vantage Towers AG

     6,953        255,479  
     

 

 

 
Total Diversified Telecommunication Services

 

     2,139,847  
Electrical Equipment – 0.2%

 

Varta AG

     2,004        54,976  
Electronic Equipment, Instruments & Components – 0.1%

 

Jenoptik AG

     373        12,692  
Food Products – 0.5%

 

Suedzucker AG

     6,081        102,272  
Ground Transportation – 0.5%

 

Sixt SE

     751        100,032  
Health Care Equipment & Supplies – 3.5%

 

Carl Zeiss Meditec AG, Bearer Shares

     391        54,374  

Siemens Healthineers AG(a)

     12,172        701,151  
     

 

 

 
Total Health Care Equipment & Supplies

 

     755,525  
Health Care Providers & Services – 0.2%

 

Synlab AG

     3,700      38,510  
Health Care Technology – 0.1%

 

CompuGroup Medical SE & Co. KGaA

     414        21,311  
Household Products – 1.6%

 

Henkel AG & Co. KGaA

     4,868        354,352  
Independent Power & Renewable Electricity Producers – 2.1%

 

Encavis AG

     2,398        41,112  

RWE AG

     9,729        418,997  
     

 

 

 
Total Independent Power & Renewable Electricity Producers

 

     460,109  
Insurance – 16.4%

 

Allianz SE, Registered Shares

     7,317        1,691,665  

Hannover Rueck SE

     3,981        780,042  

Muenchener Rueckversicherungs – Gesellschaft AG in Muenchen, Registered Shares

     2,470        865,439  

Talanx AG

     5,060        234,741  
     

 

 

 
Total Insurance

 

     3,571,887  
IT Services – 0.2%

 

Bechtle AG

     1,110        53,050  
Life Sciences Tools & Services – 0.2%

 

Gerresheimer AG

     393        38,919  
Machinery – 0.9%

 

Duerr AG

     779        27,963  

GEA Group AG

     2,729        124,379  

Krones AG

     415        49,010  
     

 

 

 
Total Machinery

 

     201,352  
Marine Transportation – 2.8%

 

Hapag-Lloyd AG(a)

     1,847        606,015  
Metals & Mining – 0.5%

 

Aurubis AG

     704        65,059  

Salzgitter AG

     1,244        49,196  
     

 

 

 
Total Metals & Mining

 

     114,255  
Multi-Utilities – 4.4%

 

E.ON SE

     77,567        969,136  
Oil, Gas & Consumable Fuels – 0.1%

 

CropEnergies AG

     1,522        18,686  
Personal Care Products – 0.6%

 

Beiersdorf AG

     1,066        138,921  
Pharmaceuticals – 4.5%

 

Bayer AG, Registered Shares

     12,751        813,467  

Merck KGaA

     869        161,965  
     

 

 

 
Total Pharmaceuticals

 

     975,432  
Semiconductors & Semiconductor Equipment – 1.9%

 

AIXTRON SE

     692        23,479  

Infineon Technologies AG

     8,206        335,933  

Siltronic AG

     840        61,328  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     420,740  

 

See Notes to Financial Statements.

 

WisdomTree Trust      19  


Schedule of Investments (concluded)

WisdomTree Germany Hedged Equity Fund (DXGE)

March 31, 2023

 

 

 

Investments    Shares      Value  
Software – 4.3%

 

Nemetschek SE

     502      $ 34,513  

SAP SE

     7,156        902,324  
     

 

 

 
Total Software

 

     936,837  
Specialty Retail – 0.4%

 

Fielmann AG

     2,288        95,405  
Textiles, Apparel & Luxury Goods – 3.9%

 

adidas AG

     3,918        692,907  

HUGO BOSS AG

     882        63,359  

Puma SE

     1,486        91,799  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     848,065  
Trading Companies & Distributors – 0.9%

 

BayWa AG

     476      21,022  

Brenntag SE

     2,236        168,108  
     

 

 

 
Total Trading Companies & Distributors

 

     189,130  

TOTAL INVESTMENTS IN SECURITIES – 99.8%

(Cost: $19,199,957)

 

 

     21,804,550  

Other Assets less Liabilities – 0.2%

 

     37,898  
     

 

 

 
NET ASSETS – 100.0%

 

   $ 21,842,448  
(a) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

Citibank NA

    4/5/2023       5,345,943       USD       5,030,799       EUR     $     $ (120,065

Goldman Sachs

    4/5/2023       4,920,379       EUR       5,345,943       USD       94        

Goldman Sachs

    4/5/2023       5,345,943       USD       5,030,870       EUR             (120,142

Goldman Sachs

    5/4/2023       5,422,110       USD       4,982,412       EUR             (144

JP Morgan Chase Bank NA

    4/4/2023       2,000       USD       1,845       EUR             (5

JP Morgan Chase Bank NA

    4/5/2023       4,920,348       EUR       5,345,943       USD       59        

JP Morgan Chase Bank NA

    4/5/2023       5,345,943       USD       5,030,803       EUR             (120,070

JP Morgan Chase Bank NA

    5/4/2023       5,422,110       USD       4,982,348       EUR             (74

Royal Bank of Canada

    4/5/2023       4,920,339       EUR       5,345,943       USD       49        

Royal Bank of Canada

    4/5/2023       5,345,942       USD       5,030,817       EUR             (120,086

Royal Bank of Canada

    5/4/2023       5,422,110       USD       4,982,325       EUR             (49

Standard Chartered Bank

    4/5/2023       4,920,288       EUR       5,345,942       USD             (5

Standard Chartered Bank

    5/4/2023       5,422,111       USD       4,982,276       EUR       5        
                                            $ 207     $ (480,640

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

           

Investments in Securities

           

Common Stocks

   $ 21,804,550      $      $      $ 21,804,550  

Total Investments in Securities

   $ 21,804,550      $      $      $ 21,804,550  

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ 207      $      $ 207  

Liabilities:

           

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ (480,640    $      $ (480,640

Total – Net

   $ 21,804,550      $ (480,433    $      $ 21,324,117  
1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

20   WisdomTree Trust


Schedule of Investments

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.8%

 

Australia – 5.3%

 

Altium Ltd.

     35,437      $ 903,788  

ARB Corp. Ltd.(a)

     5,853        123,991  

Aristocrat Leisure Ltd.

     114,298        2,847,701  

AUB Group Ltd.

     41,046        701,284  

Beach Energy Ltd.

     11,221        10,634  

Breville Group Ltd.(a)

     100,114        1,280,681  

Cochlear Ltd.

     16,633        2,636,716  

Coles Group Ltd.

     567,765        6,852,298  

Computershare Ltd.

     169,151        2,445,908  

CSL Ltd.

     68,995        13,322,174  

Goodman Group

     524,132        6,595,995  

IDP Education Ltd.(a)

     59,911        1,095,825  

Netwealth Group Ltd.

     8,658        78,398  

Northern Star Resources Ltd.

     399,321        3,292,252  

OZ Minerals Ltd.

     54,324        1,022,741  

Pinnacle Investment Management Group Ltd.(a)

     171,922        903,887  

Pro Medicus Ltd.(a)

     270        11,550  

REA Group Ltd.(a)

     10,847        1,002,758  

Seven Group Holdings Ltd.(a)

     157,046        2,429,695  

Technology One Ltd.

     105,883        1,031,106  

Washington H Soul Pattinson & Co. Ltd.(a)

     140,697        2,845,802  

Wesfarmers Ltd.

     675,168        22,722,744  

WiseTech Global Ltd.

     6,947        303,080  
     

 

 

 
Total Australia

 

     74,461,008  
Austria – 0.4%

 

Oesterreichische Post AG

     71,886        2,659,323  

Verbund AG

     30,366        2,639,291  
     

 

 

 
Total Austria

 

     5,298,614  
Belgium – 0.6%

 

Etablissements Franz Colruyt NV(a)

     77,355        2,262,419  

UCB SA

     36,861        3,301,527  

VGP NV(a)

     31,370        2,801,535  
     

 

 

 
Total Belgium

 

     8,365,481  
China – 0.5%

 

Prosus NV*

     94,687        7,400,661  
Denmark – 4.5%

 

Alm Brand A/S

     400,069        748,027  

Chemometec A/S*

     1,706        97,585  

Chr Hansen Holding A/S

     22,949        1,743,797  

Coloplast A/S, Class B

     51,255        6,741,256  

Novo Nordisk A/S, Class B

     279,513        44,263,546  

Novozymes A/S, Class B

     34,545        1,767,921  

Pandora A/S

     61,505        5,879,105  

Royal Unibrew A/S

     9,701        846,081  

SimCorp A/S

     2,759        208,759  
     

 

 

 
Total Denmark

 

     62,296,077  
Finland – 2.1%

 

Kone Oyj, Class B

     271,076        14,136,504  

Konecranes Oyj

     70,571        2,364,560  

Neste Oyj

     177,246      8,748,405  

Valmet Oyj(a)

     131,382        4,259,360  
     

 

 

 
Total Finland

 

     29,508,829  
France – 14.6%

 

Bollore SE(a)

     558,143        3,450,384  

Capgemini SE

     31,946        5,926,345  

Carrefour SA

     294,899        5,968,921  

Gaztransport Et Technigaz SA

     10,540        1,078,701  

Hermes International

     8,737        17,693,671  

Kering SA

     40,702        26,532,410  

L’Oreal SA

     93,847        41,931,077  

La Francaise des Jeux SAEM(b)

     66,147        2,758,913  

LVMH Moet Hennessy Louis Vuitton SE

     96,357        88,397,748  

Sartorius Stedim Biotech

     4,553        1,394,943  

Teleperformance

     6,335        1,525,886  

Verallia SA(b)

     64,360        2,748,010  

Vivendi SE

     478,748        4,837,262  
     

 

 

 
Total France

 

     204,244,271  
Germany – 5.0%

 

adidas AG

     85,187        15,065,518  

Bechtle AG

     31,339        1,497,783  

Carl Zeiss Meditec AG, Bearer Shares

     10,037        1,395,801  

CompuGroup Medical SE & Co. KGaA

     13,576        698,838  

Fielmann AG

     19,460        811,442  

Nemetschek SE

     11,179        768,563  

Puma SE

     46,627        2,880,408  

Rheinmetall AG

     12,288        3,652,641  

SAP SE

     324,976        40,977,321  

Stroeer SE & Co. KGaA

     46,640        2,465,701  

VERBIO Vereinigte BioEnergie AG

     770        36,156  
     

 

 

 
Total Germany

 

     70,250,172  
Hong Kong – 3.5%

 

CLP Holdings Ltd.

     2,038,500        14,724,036  

Hong Kong Exchanges & Clearing Ltd.

     608,000        26,969,038  

Techtronic Industries Co. Ltd.

     605,000        6,539,437  
     

 

 

 
Total Hong Kong

 

     48,232,511  
Indonesia – 0.1%

 

Nickel Industries Ltd.

     2,492,296        1,502,294  
Ireland – 0.2%

 

Kerry Group PLC, Class A

     26,005        2,594,767  
Israel – 0.2%

 

Hilan Ltd.

     1,628        67,459  

Matrix IT Ltd.

     21,158        371,138  

Maytronics Ltd.

     18,918        200,337  

One Software Technologies Ltd.

     27,247        276,205  

Strauss Group Ltd.*

     84,787        1,908,541  
     

 

 

 
Total Israel

 

     2,823,680  
Italy – 2.6%

 

Amplifon SpA(a)

     8,126        281,982  

Azimut Holding SpA

     169,158        3,620,499  

Banca Generali SpA(a)

     105,164        3,356,824  

 

See Notes to Financial Statements.

 

WisdomTree Trust      21  


Schedule of Investments (continued)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

March 31, 2023

 

 

 

Investments    Shares      Value  

Banca Mediolanum SpA

     620,768      $ 5,636,914  

Carel Industries SpA(b)

     150        4,107  

Davide Campari-Milano NV

     189,078        2,311,018  

De’ Longhi SpA

     77,877        1,781,875  

Ferrari NV

     19,892        5,387,787  

FinecoBank Banca Fineco SpA

     244,274        3,752,635  

Italgas SpA(a)

     572,037        3,495,879  

Moncler SpA

     27,775        1,917,392  

RAI Way SpA(b)

     201,022        1,209,938  

Recordati Industria Chimica e Farmaceutica SpA(a)

     68,239        2,888,427  

Reply SpA

     3,427        430,037  

Technogym SpA(b)

     59,037        525,633  
     

 

 

 
Total Italy

 

     36,600,947  
Japan – 8.0%

 

Asahi Holdings, Inc.(a)

     13,700        208,140  

Astellas Pharma, Inc.

     595,400        8,423,910  

AZ-COM MARUWA Holdings, Inc.(a)

     600        8,971  

BayCurrent Consulting, Inc.

     10,400        425,877  

Benefit One, Inc.(a)

     16,000        225,532  

BIPROGY, Inc.(a)

     47,900        1,169,697  

Capcom Co. Ltd.

     61,800        2,198,685  

Casio Computer Co. Ltd.(a)

     217,300        2,119,283  

CyberAgent, Inc.(a)

     150,500        1,260,857  

Daifuku Co. Ltd.

     93,000        1,707,108  

Daito Trust Construction Co. Ltd.

     28,300        2,804,696  

Daiwabo Holdings Co. Ltd.

     61,600        1,010,390  

eRex Co. Ltd.(a)

     4,700        64,661  

Fancl Corp.

     41,200        753,172  

Food & Life Cos. Ltd.

     4,000        103,389  

Fujimi, Inc.(a)

     5,500        301,676  

Fujitsu Ltd.

     42,700        5,722,102  

Future Corp.

     9,400        128,474  

Goldwin, Inc.(a)

     4,400        416,560  

Hoya Corp.

     38,800        4,244,707  

Information Services International-Dentsu Ltd.

     15,400        601,698  

Japan Material Co. Ltd.(a)

     28,000        496,085  

Justsystems Corp.(a)

     19,000        501,803  

Kakaku.com, Inc.

     23,991        325,372  

Kao Corp.

     185,000        7,182,320  

Katitas Co. Ltd.(a)

     14,700        284,855  

Keyence Corp.

     13,700        6,634,345  

Kobe Bussan Co. Ltd.(a)

     28,400        786,340  

Koei Tecmo Holdings Co. Ltd.(a)

     59,200        1,062,211  

Kose Corp.

     8,800        1,036,772  

M3, Inc.(a)

     10,100        250,508  

Meitec Corp.

     48,000        852,596  

MIRAIT ONE Corp.

     110,300        1,366,629  

MonotaRO Co. Ltd.

     8,000        99,602  

Murata Manufacturing Co. Ltd.

     214,900        12,982,162  

NEC Networks & System Integration Corp.(a)

     83,700        1,015,670  

NET One Systems Co. Ltd.

     39,000        927,455  

Nexon Co. Ltd.

     64,400        1,526,651  

Nextage Co. Ltd.(a)

     2,900      60,140  

Nifco, Inc.(a)

     44,900        1,265,121  

Nihon M&A Center Holdings, Inc.(a)

     5,000        36,967  

Nippon Gas Co. Ltd.

     57,900        837,025  

Nippon Shinyaku Co. Ltd.

     1,200        52,566  

Nissan Chemical Corp.(a)

     54,168        2,437,947  

Nomura Research Institute Ltd.

     73,400        1,690,367  

NSD Co. Ltd.

     27,200        487,225  

Obic Co. Ltd.(a)

     13,900        2,182,809  

Open House Group Co. Ltd.

     56,500        2,101,398  

Oracle Corp.

     41,400        2,964,475  

Osaka Gas Co. Ltd.

     171,100        2,803,885  

Persol Holdings Co. Ltd.

     63,900        1,274,255  

Recruit Holdings Co. Ltd.

     113,200        3,104,516  

Relo Group, Inc.(a)

     42,900        678,522  

Sega Sammy Holdings, Inc.(a)

     85,200        1,608,743  

Seria Co. Ltd.

     8,200        161,548  

Shinko Electric Industries Co. Ltd.(a)

     43,900        1,345,796  

SUMCO Corp.

     201,400        2,997,771  

Systena Corp.(a)

     17,900        39,004  

Taiheiyo Cement Corp.(a)

     79,000        1,476,242  

Taiyo Yuden Co. Ltd.(a)

     20,800        693,906  

TechnoPro Holdings, Inc.

     47,300        1,295,428  

Terumo Corp.

     57,000        1,530,678  

TIS, Inc.(a)

     41,200        1,080,382  

Unicharm Corp.

     81,000        3,311,451  

West Holdings Corp.(a)

     2,000        48,689  

Workman Co. Ltd.(a)

     13,800        580,660  

ZOZO, Inc.(a)

     107,400        2,433,023  
     

 

 

 
Total Japan

 

     111,811,500  
Netherlands – 5.6%

 

ASM International NV

     5,725        2,313,190  

ASML Holding NV

     53,829        36,563,267  

BE Semiconductor Industries NV

     69,961        6,088,331  

Corbion NV

     24,185        794,580  

Koninklijke KPN NV

     2,991,796        10,583,421  

SBM Offshore NV(a)

     180,802        2,686,212  

Universal Music Group NV(a)

     482,404        12,214,332  

Wolters Kluwer NV

     54,074        6,835,410  
     

 

 

 
Total Netherlands

 

     78,078,743  
Norway – 0.5%

 

Kongsberg Gruppen ASA

     19,716        795,937  

Leroy Seafood Group ASA

     419,699        2,176,018  

Salmar ASA

     93,261        4,058,814  

TOMRA Systems ASA

     11,101        186,552  
     

 

 

 
Total Norway

 

     7,217,321  
Portugal – 0.5%

 

Jeronimo Martins SGPS SA

     294,220        6,910,947  
Singapore – 1.1%

 

BOC Aviation Ltd.(b)

     348,400        2,691,795  

Kenon Holdings Ltd.

     67,543        1,977,152  

Singapore Exchange Ltd.

     400,700        2,832,973  

 

See Notes to Financial Statements.

 

22   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

March 31, 2023

 

 

 

Investments    Shares      Value  

Singapore Technologies Engineering Ltd.

     2,463,000      $ 6,780,174  

StarHub Ltd.

     1,778,600        1,391,256  
     

 

 

 
Total Singapore

 

     15,673,350  
Spain – 4.1%

 

Cie Automotive SA

     34,446        991,732  

Industria de Diseno Textil SA

     1,594,596        53,532,664  

Laboratorios Farmaceuticos Rovi SA

     13,417        560,919  

Viscofan SA

     22,946        1,645,359  
     

 

 

 
Total Spain

 

     56,730,674  
Sweden – 5.9%

 

AAK AB

     67,400        1,219,362  

AddTech AB, Class B

     79,812        1,480,088  

Alfa Laval AB

     143,381        5,111,886  

Assa Abloy AB, Class B

     205,597        4,923,043  

Atlas Copco AB, Class A

     808,061        10,250,430  

Atlas Copco AB, Class B

     278,949        3,206,035  

Avanza Bank Holding AB(a)

     104,476        2,448,290  

Beijer Ref AB(a)

     35,059        614,320  

Bilia AB, Class A

     31,926        394,089  

Elekta AB, Class B(a)

     250,754        1,912,294  

Epiroc AB, Class A

     116,294        2,308,037  

Epiroc AB, Class B

     184,454        3,138,700  

Essity AB, Class B(a)

     249,276        7,125,228  

Evolution AB(b)

     46,789        6,263,771  

HMS Networks AB

     72        2,940  

Husqvarna AB, Class B(a)

     179,203        1,552,584  

Instalco AB

     661        3,186  

Investment AB Latour, Class B(a)

     169,915        3,450,883  

Lagercrantz Group AB, Class B

     15,821        197,886  

Loomis AB

     38,306        1,311,400  

Nibe Industrier AB, Class B

     78,566        892,524  

Nolato AB, Class B

     27,145        137,563  

Nordnet AB publ

     90,726        1,493,938  

Paradox Interactive AB

     493        12,290  

Sagax AB, Class B(a)

     61,555        1,417,548  

Sandvik AB

     372,510        7,895,974  

Securitas AB, Class B(a)

     332,772        2,961,382  

Telefonaktiebolaget LM Ericsson, Class B(a)

     1,779,589        10,399,978  
     

 

 

 
Total Sweden

 

     82,125,649  
Switzerland – 17.4%

 

ABB Ltd., Registered Shares

     747,923        25,682,606  

Coca-Cola HBC AG*

     94,808        2,594,197  

Comet Holding AG, Registered Shares

     4,298        1,190,295  

Geberit AG, Registered Shares

     14,426        8,040,851  

Givaudan SA, Registered Shares

     2,599        8,458,023  

Logitech International SA, Registered Shares

     46,945        2,728,673  

Lonza Group AG, Registered Shares

     5,044        3,022,369  

Nestle SA, Registered Shares

     453,625        55,345,676  

Novartis AG, Registered Shares

     616,400        56,515,422  

Partners Group Holding AG

     11,001        10,317,615  

Roche Holding AG

     119,770        34,211,572  

Roche Holding AG, Bearer Shares

     18,137        5,459,663  

Schindler Holding AG, Participation Certificate

     13,128      2,904,240  

Schindler Holding AG, Registered Shares

     11,100        2,345,028  

SGS SA, Registered Shares

     3,445        7,583,488  

Sika AG, Registered Shares

     26,601        7,439,719  

Sonova Holding AG, Registered Shares

     10,981        3,228,610  

Stadler Rail AG(a)

     41,425        1,618,819  

Straumann Holding AG, Registered Shares(a)

     7,661        1,143,427  

Sulzer AG, Registered Shares(a)

     26,691        2,262,841  

Temenos AG, Registered Shares

     11,122        770,401  
     

 

 

 
Total Switzerland

 

     242,863,535  
United Kingdom – 13.3%

 

Airtel Africa PLC(b)

     1,872,532        2,465,786  

AJ Bell PLC

     184,741        788,516  

Ashtead Group PLC

     97,560        5,980,740  

Auto Trader Group PLC(b)

     173,964        1,325,433  

Burberry Group PLC

     102,587        3,280,178  

Compass Group PLC

     334,824        8,416,481  

Diageo PLC

     535,269        23,918,658  

Drax Group PLC

     225,861        1,696,540  

EMIS Group PLC

     13,424        248,972  

Fevertree Drinks PLC

     35,601        565,202  

Fresnillo PLC

     328,104        3,026,404  

Games Workshop Group PLC

     23,045        2,746,821  

Gamma Communications PLC

     19,871        265,351  

Greggs PLC

     50,871        1,744,831  

Halma PLC

     46,425        1,279,495  

Hargreaves Lansdown PLC(a)

     334,563        3,306,881  

IMI PLC

     95,111        1,803,984  

Imperial Brands PLC

     800,710        18,454,307  

Intertek Group PLC

     33,416        1,674,587  

Kainos Group PLC

     34,735        593,543  

RELX PLC

     585,895        18,965,575  

Rentokil Initial PLC

     410,744        3,004,526  

Rightmove PLC

     184,341        1,283,237  

Rotork PLC

     315,791        1,229,167  

RS Group PLC

     24,958        282,054  

Sage Group PLC

     368,372        3,529,920  

Smith & Nephew PLC

     363,264        5,039,550  

Spectris PLC

     42,288        1,913,181  

Spirax-Sarco Engineering PLC

     14,201        2,081,599  

Tate & Lyle PLC(a)

     212,087        2,057,496  

Unilever PLC

     1,194,086        61,862,321  

Victrex PLC

     31,056        611,699  
     

 

 

 
Total United Kingdom

 

     185,443,035  
United States – 3.8%

 

GSK PLC

     3,045,225        53,805,689  

TOTAL COMMON STOCKS

(Cost: $1,132,444,756)

 

 

     1,394,239,755  

 

See Notes to Financial Statements.

 

WisdomTree Trust      23  


Schedule of Investments (continued)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

March 31, 2023

 

 

 

Investments    Shares      Value  
EXCHANGE-TRADED FUND – 0.1%

 

United States – 0.1%

 

WisdomTree International Quality Dividend Growth Fund(c)

     
(Cost: $868,179)      30,222      $ 1,023,619  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 3.6%

 

United States – 3.6%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 4.84%(d)

 

  
(Cost: $50,060,969)      50,060,969        50,060,969  

TOTAL INVESTMENTS IN SECURITIES – 103.5%

(Cost: $1,183,373,904)

 

 

     1,445,324,343  

Other Assets less Liabilities – (3.5)%

 

     (48,738,694
     

 

 

 
NET ASSETS – 100.0%

 

   $ 1,396,585,649  
* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $65,258,992. The Fund also had securities on loan having a total market value of $112,083 that were sold and pending settlement. The total market value of the collateral held by the Fund was $68,866,531. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $18,805,562.

 

(b) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(c) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

(d) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate    Value at
3/31/2022
     Purchases/
Additions
     Sales/
Reductions
     Realized
Gain/
(Loss)
     Change in
Unrealized
Appreciation/
Depreciation
     Value at
3/31/2023
     Dividend
Income
 

WisdomTree International Quality Dividend Growth Fund

   $ 1,121,046      $      $ 15,247      $ 795      $ (82,975    $ 1,023,619      $ 34,597  

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

Bank of America NA

    4/5/2023       112,861       USD       168,783       AUD     $     $ (186

Bank of America NA

    4/5/2023       338,582       USD       503,744       AUD       1,187        

Bank of America NA

    4/5/2023       332,852       USD       308,548       CHF             (4,931

Bank of America NA

    4/5/2023       998,555       USD       912,234       CHF             (112

Bank of America NA

    4/5/2023       81,774       USD       571,307       DKK             (1,554

Bank of America NA

    4/5/2023       245,322       USD       1,677,246       DKK       687        

Bank of America NA

    4/5/2023       671,800       USD       630,508       EUR             (13,253

Bank of America NA

    4/5/2023       2,015,400       USD       1,849,733       EUR       5,648        

Bank of America NA

    4/5/2023       339,185       USD       279,313       GBP             (6,179

Bank of America NA

    4/5/2023       1,017,555       USD       825,688       GBP             (3,387

Bank of America NA

    4/5/2023       7,331       USD       26,874       ILS             (133

Bank of America NA

    4/5/2023       21,992       USD       77,971       ILS       337        

Bank of America NA

    4/5/2023       151,589       USD       19,970,895       JPY       1,512        

Bank of America NA

    4/5/2023       454,767       USD       59,488,435       JPY       7,724        

Bank of America NA

    4/5/2023       9,950       USD       106,465       NOK             (216

Bank of America NA

    4/5/2023       29,851       USD       307,007       NOK       536        

Bank of America NA

    4/5/2023       114,784       USD       1,204,131       SEK             (1,344

Bank of America NA

    4/5/2023       344,352       USD       3,531,554       SEK       3,763        

Bank of America NA

    4/5/2023       15,367       USD       20,626       SGD             (147

Bank of America NA

    4/5/2023       46,101       USD       61,052       SGD       180        

Bank of America NA

    4/6/2023       67,851       USD       532,069       HKD       63        

Bank of America NA

    4/6/2023       203,554       USD       1,597,090       HKD       76        

Barclays Bank PLC

    4/5/2023       338,582       USD       511,870       AUD             (4,256

Barclays Bank PLC

    4/5/2023       998,555       USD       936,260       CHF             (26,414

 

See Notes to Financial Statements.

 

24   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

March 31, 2023

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

Barclays Bank PLC

    4/5/2023       245,322       USD       1,727,040       DKK     $     $ (6,576

Barclays Bank PLC

    4/5/2023       2,015,400       USD       1,906,897       EUR             (56,461

Barclays Bank PLC

    4/5/2023       1,017,555       USD       859,374       GBP             (45,040

Barclays Bank PLC

    4/5/2023       21,992       USD       78,968       ILS       60        

Barclays Bank PLC

    4/5/2023       454,767       USD       62,017,930       JPY             (11,284

Barclays Bank PLC

    4/5/2023       29,851       USD       316,813       NOK             (401

Barclays Bank PLC

    4/5/2023       344,352       USD       3,671,216       SEK             (9,706

Barclays Bank PLC

    4/5/2023       46,101       USD       62,297       SGD             (757

Barclays Bank PLC

    4/6/2023       203,554       USD       1,595,881       HKD       230        

Citibank NA

    4/4/2023       1,786,095       HKD       227,532       USD             (2

Citibank NA

    4/5/2023       348,846       AUD       231,766       USD       1,882        

Citibank NA

    4/5/2023       625,926       CHF       683,531       USD       1,701        

Citibank NA

    4/5/2023       1,160,042       DKK       167,928       USD       1,270        

Citibank NA

    4/5/2023       1,279,021       EUR       1,379,582       USD       10,086        

Citibank NA

    4/5/2023       567,455       GBP       696,537       USD       5,107        

Citibank NA

    4/5/2023       54,078       ILS       15,054       USD             (35

Citibank NA

    4/5/2023       40,892,689       JPY       311,297       USD             (3,997

Citibank NA

    4/5/2023       214,686       NOK       20,434       USD       66        

Citibank NA

    4/5/2023       2,448,355       SEK       235,716       USD       407        

Citibank NA

    4/5/2023       42,042       SGD       31,557       USD       65        

Citibank NA

    4/5/2023       19,214,528       USD       28,458,800       AUD       153,550        

Citibank NA

    4/5/2023       56,668,015       USD       52,915,062       CHF             (1,260,685

Citibank NA

    4/5/2023       13,922,050       USD       97,481,080       DKK             (296,077

Citibank NA

    4/5/2023       114,373,952       USD       107,631,587       EUR             (2,568,739

Citibank NA

    4/5/2023       57,746,257       USD       47,670,009       GBP             (1,196,540

Citibank NA

    4/5/2023       1,248,054       USD       4,554,602       ILS             (16,909

Citibank NA

    4/5/2023       25,808,032       USD       3,498,766,509       JPY             (484,433

Citibank NA

    4/5/2023       1,694,049       USD       17,497,675       NOK       23,247        

Citibank NA

    4/5/2023       19,541,972       USD       203,440,507       SEK             (78,162

Citibank NA

    4/5/2023       2,616,227       USD       3,518,899       SGD             (30,538

Citibank NA

    4/6/2023       1,093,305       HKD       139,337       USD             (44

Citibank NA

    4/6/2023       11,551,716       USD       90,525,508       HKD       18,288        

Deutsche Bank AG

    4/3/2023       200,000       AUD       133,673       USD       277        

Goldman Sachs

    4/5/2023       29,781,329       AUD       19,946,611       USD       163        

Goldman Sachs

    4/5/2023       53,736,138       CHF       58,827,094       USD       478        

Goldman Sachs

    4/5/2023       99,089,395       DKK       14,452,486       USD       222        

Goldman Sachs

    4/5/2023       109,280,027       EUR       118,731,656       USD       2,079        

Goldman Sachs

    4/5/2023       48,482,177       GBP       59,946,418       USD       605        

Goldman Sachs

    4/5/2023       4,664,844       ILS       1,295,605       USD             (24

Goldman Sachs

    4/5/2023       3,565,210,827       JPY       26,791,331       USD       449        

Goldman Sachs

    4/5/2023       18,417,224       NOK       1,758,593       USD       15        

Goldman Sachs

    4/5/2023       210,354,144       SEK       20,286,531       USD       365        

Goldman Sachs

    4/5/2023       3,610,832       SGD       2,715,906       USD       8        

Goldman Sachs

    4/5/2023       19,214,528       USD       28,458,126       AUD       154,002        

Goldman Sachs

    4/5/2023       56,668,015       USD       52,914,949       CHF             (1,260,561

Goldman Sachs

    4/5/2023       13,922,050       USD       97,483,169       DKK             (296,381

Goldman Sachs

    4/5/2023       114,373,952       USD       107,633,106       EUR             (2,570,389

Goldman Sachs

    4/5/2023       57,746,257       USD       47,670,481       GBP             (1,197,124

Goldman Sachs

    4/5/2023       1,248,054       USD       4,554,491       ILS             (16,878

Goldman Sachs

    4/5/2023       25,808,032       USD       3,498,763,928       JPY             (484,414

 

See Notes to Financial Statements.

 

WisdomTree Trust      25  


Schedule of Investments (continued)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

March 31, 2023

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

Goldman Sachs

    4/5/2023       1,694,049       USD       17,497,753       NOK     $ 23,239     $  

Goldman Sachs

    4/5/2023       19,541,972       USD       203,441,778       SEK             (78,284

Goldman Sachs

    4/5/2023       2,616,227       USD       3,519,118       SGD             (30,704

Goldman Sachs

    4/6/2023       94,124,304       HKD       11,991,842       USD       92        

Goldman Sachs

    4/6/2023       11,551,716       USD       90,525,277       HKD       18,317        

Goldman Sachs

    5/3/2023       18,708,794       USD       27,905,497       AUD             (369

Goldman Sachs

    5/3/2023       15,577,313       USD       106,606,737       DKK             (400

Goldman Sachs

    5/3/2023       1,288,146       USD       4,634,896       ILS             (10

Goldman Sachs

    5/4/2023       59,159,344       USD       53,872,510       CHF             (1,494

Goldman Sachs

    5/4/2023       124,671,906       USD       114,561,825       EUR             (3,312

Goldman Sachs

    5/4/2023       59,963,966       USD       48,467,362       GBP             (730

Goldman Sachs

    5/4/2023       12,530,684       USD       98,215,852       HKD             (849

Goldman Sachs

    5/4/2023       1,781,620       USD       18,633,258       NOK             (29

Goldman Sachs

    5/4/2023       20,309,366       USD       210,245,664       SEK             (722

Goldman Sachs

    5/4/2023       2,817,266       USD       3,742,352       SGD             (170

Goldman Sachs

    5/8/2023       27,809,239       USD       3,683,161,288       JPY             (861

HSBC Holdings PLC

    4/5/2023       338,582       USD       500,010       AUD       3,688        

HSBC Holdings PLC

    4/5/2023       998,555       USD       934,731       CHF             (24,741

HSBC Holdings PLC

    4/5/2023       245,322       USD       1,706,857       DKK             (3,632

HSBC Holdings PLC

    4/5/2023       2,015,400       USD       1,884,924       EUR             (32,587

HSBC Holdings PLC

    4/5/2023       1,017,555       USD       846,982       GBP             (29,718

HSBC Holdings PLC

    4/5/2023       21,992       USD       79,445       ILS             (72

HSBC Holdings PLC

    4/5/2023       454,767       USD       61,619,655       JPY             (8,291

HSBC Holdings PLC

    4/5/2023       29,851       USD       309,937       NOK       256        

HSBC Holdings PLC

    4/5/2023       344,352       USD       3,592,022       SEK             (2,068

HSBC Holdings PLC

    4/5/2023       46,101       USD       61,823       SGD             (399

HSBC Holdings PLC

    4/6/2023       203,554       USD       1,595,135       HKD       325        

JP Morgan Chase Bank NA

    4/5/2023       29,781,329       AUD       19,946,611       USD       163        

JP Morgan Chase Bank NA

    4/5/2023       53,736,197       CHF       58,827,094       USD       543        

JP Morgan Chase Bank NA

    4/5/2023       99,088,802       DKK       14,452,486       USD       135        

JP Morgan Chase Bank NA

    4/5/2023       109,279,322       EUR       118,731,656       USD       1,314        

JP Morgan Chase Bank NA

    4/5/2023       48,482,138       GBP       59,946,418       USD       557        

JP Morgan Chase Bank NA

    4/5/2023       4,664,888       ILS       1,295,605       USD             (12

JP Morgan Chase Bank NA

    4/5/2023       3,565,192,073       JPY       26,791,331       USD       308        

JP Morgan Chase Bank NA

    4/5/2023       18,417,154       NOK       1,758,593       USD       8        

JP Morgan Chase Bank NA

    4/5/2023       210,352,217       SEK       20,286,531       USD       179        

JP Morgan Chase Bank NA

    4/5/2023       3,610,849       SGD       2,715,906       USD       20        

JP Morgan Chase Bank NA

    4/5/2023       19,214,528       USD       28,458,041       AUD       154,058        

JP Morgan Chase Bank NA

    4/5/2023       790,024       USD       1,172,969       AUD       4,399        

JP Morgan Chase Bank NA

    4/5/2023       338,582       USD       508,763       AUD             (2,175

JP Morgan Chase Bank NA

    4/5/2023       225,721       USD       337,471       AUD             (308

JP Morgan Chase Bank NA

    4/5/2023       677,164       USD       1,013,006       AUD             (1,321

JP Morgan Chase Bank NA

    4/5/2023       56,668,015       USD       52,914,382       CHF             (1,259,941

JP Morgan Chase Bank NA

    4/5/2023       2,329,961       USD       2,186,298       CHF             (63,486

JP Morgan Chase Bank NA

    4/5/2023       998,555       USD       926,612       CHF             (15,852

JP Morgan Chase Bank NA

    4/5/2023       665,703       USD       613,907       CHF             (6,371

JP Morgan Chase Bank NA

    4/5/2023       1,997,110       USD       1,835,166       CHF             (11,936

JP Morgan Chase Bank NA

    4/5/2023       13,922,050       USD       97,478,379       DKK             (295,683

JP Morgan Chase Bank NA

    4/5/2023       572,418       USD       4,006,705       DKK             (11,981

JP Morgan Chase Bank NA

    4/5/2023       245,322       USD       1,718,602       DKK             (5,345

 

See Notes to Financial Statements.

 

26   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

March 31, 2023

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

JP Morgan Chase Bank NA

    4/5/2023       163,548       USD       1,127,760       DKK     $     $ (942

JP Morgan Chase Bank NA

    4/5/2023       490,645       USD       3,373,722       DKK             (1,430

JP Morgan Chase Bank NA

    4/5/2023       114,373,952       USD       107,631,688       EUR             (2,568,849

JP Morgan Chase Bank NA

    4/5/2023       4,702,600       USD       4,424,265       EUR             (104,404

JP Morgan Chase Bank NA

    4/5/2023       2,015,400       USD       1,895,857       EUR             (44,465

JP Morgan Chase Bank NA

    4/5/2023       1,343,600       USD       1,244,204       EUR             (8,239

JP Morgan Chase Bank NA

    4/5/2023       4,030,800       USD       3,720,376       EUR             (11,422

JP Morgan Chase Bank NA

    4/5/2023       57,746,257       USD       47,669,694       GBP             (1,196,151

JP Morgan Chase Bank NA

    4/5/2023       2,374,295       USD       1,984,954       GBP             (80,052

JP Morgan Chase Bank NA

    4/5/2023       1,017,555       USD       839,887       GBP             (20,945

JP Morgan Chase Bank NA

    4/5/2023       678,370       USD       554,498       GBP             (7,253

JP Morgan Chase Bank NA

    4/5/2023       2,035,110       USD       1,652,995       GBP             (8,778

JP Morgan Chase Bank NA

    4/5/2023       1,248,054       USD       4,554,484       ILS             (16,876

JP Morgan Chase Bank NA

    4/5/2023       51,314       USD       187,763       ILS             (834

JP Morgan Chase Bank NA

    4/5/2023       21,992       USD       80,571       ILS             (385

JP Morgan Chase Bank NA

    4/5/2023       14,661       USD       53,121       ILS             (92

JP Morgan Chase Bank NA

    4/5/2023       43,984       USD       157,390       ILS       271        

JP Morgan Chase Bank NA

    4/5/2023       25,808,032       USD       3,498,774,251       JPY             (484,491

JP Morgan Chase Bank NA

    4/5/2023       1,061,123       USD       144,443,564       JPY             (24,339

JP Morgan Chase Bank NA

    4/5/2023       454,767       USD       60,330,618       JPY       1,396        

JP Morgan Chase Bank NA

    4/5/2023       303,178       USD       40,152,106       JPY       1,444        

JP Morgan Chase Bank NA

    4/5/2023       909,534       USD       120,419,845       JPY       4,605        

JP Morgan Chase Bank NA

    4/5/2023       1,694,049       USD       17,497,022       NOK       23,309        

JP Morgan Chase Bank NA

    4/5/2023       69,653       USD       725,552       NOK       372        

JP Morgan Chase Bank NA

    4/5/2023       29,851       USD       322,024       NOK             (898

JP Morgan Chase Bank NA

    4/5/2023       19,901       USD       208,560       NOK             (14

JP Morgan Chase Bank NA

    4/5/2023       59,702       USD       622,205       NOK       289        

JP Morgan Chase Bank NA

    4/5/2023       19,541,972       USD       203,434,371       SEK             (77,570

JP Morgan Chase Bank NA

    4/5/2023       803,488       USD       8,419,637       SEK             (8,516

JP Morgan Chase Bank NA

    4/5/2023       344,352       USD       3,615,131       SEK             (4,297

JP Morgan Chase Bank NA

    4/5/2023       229,568       USD       2,374,094       SEK       607        

JP Morgan Chase Bank NA

    4/5/2023       688,704       USD       7,168,997       SEK             (2,686

JP Morgan Chase Bank NA

    4/5/2023       2,616,227       USD       3,518,935       SGD             (30,566

JP Morgan Chase Bank NA

    4/5/2023       107,569       USD       144,854       SGD             (1,384

JP Morgan Chase Bank NA

    4/5/2023       46,101       USD       62,065       SGD             (581

JP Morgan Chase Bank NA

    4/5/2023       30,734       USD       40,966       SGD             (79

JP Morgan Chase Bank NA

    4/5/2023       92,202       USD       122,535       SGD       36        

JP Morgan Chase Bank NA

    4/6/2023       94,123,656       HKD       11,991,842       USD       10        

JP Morgan Chase Bank NA

    4/6/2023       11,551,716       USD       90,523,798       HKD       18,505        

JP Morgan Chase Bank NA

    4/6/2023       474,960       USD       3,722,492       HKD       695        

JP Morgan Chase Bank NA

    4/6/2023       203,554       USD       1,595,955       HKD       221        

JP Morgan Chase Bank NA

    4/6/2023       135,703       USD       1,064,259       HKD       111        

JP Morgan Chase Bank NA

    4/6/2023       407,109       USD       3,194,982       HKD       51        

JP Morgan Chase Bank NA

    5/3/2023       316,205       USD       471,641       AUD             (5

JP Morgan Chase Bank NA

    5/3/2023       18,708,794       USD       27,905,747       AUD             (536

JP Morgan Chase Bank NA

    5/3/2023       263,279       USD       1,801,833       DKK             (11

JP Morgan Chase Bank NA

    5/3/2023       15,577,313       USD       106,609,152       DKK             (753

JP Morgan Chase Bank NA

    5/3/2023       21,771       USD       78,348       ILS             (4

JP Morgan Chase Bank NA

    5/3/2023       1,288,146       USD       4,635,411       ILS             (153

JP Morgan Chase Bank NA

    5/4/2023       999,876       USD       910,509       CHF             (12

 

See Notes to Financial Statements.

 

WisdomTree Trust      27  


Schedule of Investments (continued)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

March 31, 2023

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

JP Morgan Chase Bank NA

    5/4/2023       59,159,344       USD       53,872,688       CHF     $     $ (1,689

JP Morgan Chase Bank NA

    5/4/2023       2,107,131       USD       1,936,224       EUR             (21

JP Morgan Chase Bank NA

    5/4/2023       124,671,906       USD       114,560,351       EUR             (1,708

JP Morgan Chase Bank NA

    5/4/2023       1,013,476       USD       819,163       GBP             (7

JP Morgan Chase Bank NA

    5/4/2023       59,963,966       USD       48,467,166       GBP             (487

JP Morgan Chase Bank NA

    5/4/2023       211,786       USD       1,659,906       HKD             (4

JP Morgan Chase Bank NA

    5/4/2023       12,530,684       USD       98,211,216       HKD             (257

JP Morgan Chase Bank NA

    5/4/2023       30,112       USD       314,932       NOK             (1

JP Morgan Chase Bank NA

    5/4/2023       1,781,620       USD       18,633,636       NOK             (65

JP Morgan Chase Bank NA

    5/4/2023       343,257       USD       3,553,485       SEK             (16

JP Morgan Chase Bank NA

    5/4/2023       20,309,366       USD       210,249,604       SEK             (1,103

JP Morgan Chase Bank NA

    5/4/2023       47,616       USD       63,252       SGD             (3

JP Morgan Chase Bank NA

    5/4/2023       2,817,266       USD       3,742,391       SGD             (199

JP Morgan Chase Bank NA

    5/8/2023       470,015       USD       62,249,209       JPY             (4

JP Morgan Chase Bank NA

    5/8/2023       27,809,239       USD       3,683,122,355       JPY             (567

Morgan Stanley & Co. International

    4/5/2023       48,482,059       GBP       59,946,418       USD       460        

Morgan Stanley & Co. International

    5/4/2023       59,963,967       USD       48,467,167       GBP             (487

Royal Bank of Canada

    4/5/2023       29,782,041       AUD       19,946,611       USD       640        

Royal Bank of Canada

    4/5/2023       53,736,138       CHF       58,827,094       USD       478        

Royal Bank of Canada

    4/5/2023       99,087,877       DKK       14,452,486       USD       1        

Royal Bank of Canada

    4/5/2023       109,279,121       EUR       118,731,656       USD       1,096        

Royal Bank of Canada

    4/5/2023       48,482,177       GBP       59,946,418       USD       605        

Royal Bank of Canada

    4/5/2023       4,664,821       ILS       1,295,605       USD             (31

Royal Bank of Canada

    4/5/2023       3,565,184,866       JPY       26,791,331       USD       254        

Royal Bank of Canada

    4/5/2023       18,417,577       NOK       1,758,593       USD       48        

Royal Bank of Canada

    4/5/2023       210,350,107       SEK       20,286,531       USD             (24

Royal Bank of Canada

    4/5/2023       3,610,794       SGD       2,715,906       USD             (21

Royal Bank of Canada

    4/5/2023       19,214,526       USD       28,457,996       AUD       154,086        

Royal Bank of Canada

    4/5/2023       56,668,016       USD       52,914,950       CHF             (1,260,561

Royal Bank of Canada

    4/5/2023       13,922,049       USD       97,482,326       DKK             (296,260

Royal Bank of Canada

    4/5/2023       114,373,950       USD       107,631,990       EUR             (2,569,179

Royal Bank of Canada

    4/5/2023       57,746,258       USD       47,669,852       GBP             (1,196,345

Royal Bank of Canada

    4/5/2023       1,248,054       USD       4,554,583       ILS             (16,904

Royal Bank of Canada

    4/5/2023       25,808,032       USD       3,498,804,240       JPY             (484,717

Royal Bank of Canada

    4/5/2023       1,694,047       USD       17,497,590       NOK       23,253        

Royal Bank of Canada

    4/5/2023       19,541,971       USD       203,437,859       SEK             (77,908

Royal Bank of Canada

    4/5/2023       2,616,225       USD       3,518,830       SGD             (30,489

Royal Bank of Canada

    4/6/2023       94,121,905       HKD       11,991,842       USD             (213

Royal Bank of Canada

    4/6/2023       11,551,717       USD       90,526,185       HKD       18,202        

Royal Bank of Canada

    5/3/2023       18,708,794       USD       27,906,371       AUD             (955

Royal Bank of Canada

    5/3/2023       15,577,313       USD       106,613,591       DKK             (1,402

Royal Bank of Canada

    5/3/2023       1,288,146       USD       4,636,032       ILS             (326

Royal Bank of Canada

    5/4/2023       59,159,344       USD       53,872,806       CHF             (1,819

Royal Bank of Canada

    5/4/2023       124,671,906       USD       114,559,825       EUR             (1,135

Royal Bank of Canada

    5/4/2023       59,963,966       USD       48,467,558       GBP             (972

Royal Bank of Canada

    5/4/2023       12,530,684       USD       98,216,441       HKD             (924

Royal Bank of Canada

    5/4/2023       1,781,620       USD       18,634,507       NOK             (148

Royal Bank of Canada

    5/4/2023       20,309,366       USD       210,251,615       SEK             (1,297

Royal Bank of Canada

    5/4/2023       2,817,266       USD       3,742,389       SGD             (197

Royal Bank of Canada

    5/8/2023       27,809,239       USD       3,683,114,874       JPY             (510

 

See Notes to Financial Statements.

 

28   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree International Hedged Quality Dividend Growth Fund (IHDG)

March 31, 2023

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

Standard Chartered Bank

    4/5/2023       29,781,059       AUD       19,946,609       USD     $     $ (16

Standard Chartered Bank

    4/5/2023       53,735,727       CHF       58,827,094       USD       28        

Standard Chartered Bank

    4/5/2023       99,087,689       DKK       14,452,486       USD             (27

Standard Chartered Bank

    4/5/2023       109,278,015       EUR       118,731,656       USD             (106

Standard Chartered Bank

    4/5/2023       4,664,916       ILS       1,295,605       USD             (4

Standard Chartered Bank

    4/5/2023       3,565,202,657       JPY       26,791,330       USD       388        

Standard Chartered Bank

    4/5/2023       18,416,897       NOK       1,758,591       USD             (15

Standard Chartered Bank

    4/5/2023       210,349,610       SEK       20,286,530       USD             (71

Standard Chartered Bank

    4/5/2023       3,610,777       SGD       2,715,907       USD             (35

Standard Chartered Bank

    4/6/2023       94,122,161       HKD       11,991,841       USD             (180

Standard Chartered Bank

    5/3/2023       18,708,795       USD       27,905,041       AUD             (62

Standard Chartered Bank

    5/3/2023       15,577,313       USD       106,608,794       DKK             (701

Standard Chartered Bank

    5/3/2023       1,288,146       USD       4,635,494       ILS             (176

Standard Chartered Bank

    5/4/2023       59,159,344       USD       53,871,268       CHF             (130

Standard Chartered Bank

    5/4/2023       124,671,904       USD       114,558,665       EUR       125        

Standard Chartered Bank

    5/4/2023       12,530,683       USD       98,214,867       HKD             (724

Standard Chartered Bank

    5/4/2023       1,781,621       USD       18,633,796       NOK             (79

Standard Chartered Bank

    5/4/2023       20,309,366       USD       210,253,727       SEK             (1,501

Standard Chartered Bank

    5/4/2023       2,817,266       USD       3,742,203       SGD             (57

Standard Chartered Bank

    5/8/2023       27,809,238       USD       3,683,138,908       JPY             (693
                                            $ 855,522     $ (24,509,666

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

           

Investments in Securities

           

Common Stocks

   $ 1,394,239,755      $      $      $ 1,394,239,755  

Exchange-Traded Fund

     1,023,619                      1,023,619  

Investment of Cash Collateral for Securities Loaned

            50,060,969               50,060,969  

Total Investments in Securities

   $ 1,395,263,374      $ 50,060,969      $      $ 1,445,324,343  

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ 855,522      $      $ 855,522  

Liabilities:

           

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ (24,509,666    $      $ (24,509,666

Total – Net

   $ 1,395,263,374      $ 26,406,825      $      $ 1,421,670,199  
1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

WisdomTree Trust      29  


Schedule of Investments

WisdomTree Japan Hedged Equity Fund (DXJ)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.7%

 

Japan – 99.7%

 

Air Freight & Logistics – 0.5%

 

Mitsui-Soko Holdings Co. Ltd.

     28,600      $ 843,452  

Nippon Express Holdings, Inc.

     44,000        2,634,909  

SG Holdings Co. Ltd.

     254,300        3,745,044  
     

 

 

 
Total Air Freight & Logistics

 

     7,223,405  
Automobile Components – 4.7%

 

Aisan Industry Co. Ltd.

     65,900        445,143  

Aisin Corp.(a)

     204,908        5,611,914  

Bridgestone Corp.

     377,585        15,226,529  

Daikyonishikawa Corp.(a)

     57,500        278,665  

Denso Corp.

     315,779        17,659,802  

Eagle Industry Co. Ltd.

     50,900        454,348  

Exedy Corp.

     73,500        1,001,243  

FuKoKu Co. Ltd.

     22,400        173,020  

Furukawa Battery Co. Ltd.(a)

     15,000        120,482  

Futaba Industrial Co. Ltd.(a)

     35,000        112,029  

H-One Co. Ltd.(a)

     26,700        126,589  

JTEKT Corp.

     124,378        954,166  

KYB Corp.

     22,500        679,615  

Musashi Seimitsu Industry Co. Ltd.(a)

     34,400        482,567  

NGK Spark Plug Co. Ltd.(a)

     252,964        5,200,312  

NHK Spring Co. Ltd.

     215,000        1,529,829  

Nifco, Inc.(a)

     30,590        861,917  

NOK Corp.(a)

     138,400        1,521,370  

Pacific Industrial Co. Ltd.

     42,400        367,643  

Piolax, Inc.(a)

     26,900        390,089  

Press Kogyo Co. Ltd.

     195,600        731,902  

Riken Corp.

     12,200        237,693  

Sanoh Industrial Co. Ltd.(a)

     29,900        148,051  

Seiren Co. Ltd.(a)

     22,410        392,668  

Shoei Co. Ltd.

     28,000        583,605  

Stanley Electric Co. Ltd.(a)

     57,107        1,257,650  

Sumitomo Electric Industries Ltd.

     426,483        5,437,987  

Sumitomo Riko Co. Ltd.(a)

     18,800        97,327  

Sumitomo Rubber Industries Ltd.

     148,691        1,336,197  

Suncall Corp.(a)

     43,800        195,157  

Tachi-S Co. Ltd.

     42,600        384,101  

Tokai Rika Co. Ltd.(a)

     67,814        829,013  

Topre Corp.(a)

     27,100        249,844  

Toyo Tire Corp.

     127,800        1,483,590  

Toyoda Gosei Co. Ltd.

     49,700        851,424  

Toyota Boshoku Corp.

     109,036        1,750,770  

TPR Co. Ltd.

     25,294        254,479  

TS Tech Co. Ltd.

     74,964        945,710  

Yokohama Rubber Co. Ltd.

     71,900        1,511,040  
     

 

 

 
Total Automobile Components

 

     71,875,480  
Automobiles – 8.2%

 

Honda Motor Co. Ltd.

     1,109,347        29,256,954  

Isuzu Motors Ltd.

     532,800        6,321,220  

Mazda Motor Corp.

     386,500        3,557,461  

Nissan Motor Co. Ltd.(a)

     795,700        2,995,907  

Subaru Corp.

     288,167      4,578,324  

Suzuki Motor Corp.

     151,036        5,451,777  

Toyota Motor Corp.

     4,779,850        67,519,107  

Yamaha Motor Co. Ltd.

     232,500        6,044,406  
     

 

 

 
Total Automobiles

 

     125,725,156  
Banks – 8.6%

 

Mitsubishi UFJ Financial Group, Inc.

     9,210,122        58,676,553  

Mizuho Financial Group, Inc.

     1,986,464        28,030,501  

Sumitomo Mitsui Financial Group, Inc.

     1,129,500        44,962,740  
     

 

 

 
Total Banks

 

     131,669,794  
Beverages – 1.2%

 

Asahi Group Holdings Ltd.

     210,500        7,787,978  

Kirin Holdings Co. Ltd.

     450,545        7,095,517  

Suntory Beverage & Food Ltd.

     79,000        2,929,334  

Takara Holdings, Inc.(a)

     112,200        861,585  
     

 

 

 
Total Beverages

 

     18,674,414  
Biotechnology – 0.0%

 

Takara Bio, Inc.

     45,000        585,957  
Broadline Retail – 0.1%

 

Ryohin Keikaku Co. Ltd.

     123,600        1,396,757  
Building Products – 1.1%

 

AGC, Inc.

     150,047        5,552,494  

Central Glass Co. Ltd.

     22,400        494,318  

Daikin Industries Ltd.

     40,749        7,242,600  

Nihon Flush Co. Ltd.(a)

     17,600        129,200  

Noritz Corp.

     22,400        292,350  

Okabe Co. Ltd.

     50,800        293,143  

Sanwa Holdings Corp.

     125,731        1,337,705  

TOTO Ltd.(a)

     51,700        1,716,988  
     

 

 

 
Total Building Products

 

     17,058,798  
Capital Markets – 1.1%

 

Monex Group, Inc.(a)

     152,300        545,849  

Nomura Holdings, Inc.

     2,167,500        8,300,960  

SBI Holdings, Inc.

     370,400        7,302,800  

Sparx Group Co. Ltd.(a)

     39,100        425,402  
     

 

 

 
Total Capital Markets

 

     16,575,011  
Chemicals – 7.6%

 

ADEKA Corp.

     65,200        1,106,181  

Aica Kogyo Co. Ltd.(a)

     31,300        713,769  

Arakawa Chemical Industries Ltd.(a)

     50,800        380,552  

Asahi Kasei Corp.

     776,822        5,406,644  

C. Uyemura & Co. Ltd.

     15,300        744,940  

Chugoku Marine Paints Ltd.

     51,400        422,894  

Daicel Corp.

     179,242        1,346,773  

Denka Co. Ltd.

     53,615        1,101,788  

DIC Corp.

     59,453        1,063,176  

Fujimi, Inc.

     22,400        1,228,642  

Fuso Chemical Co. Ltd.(a)

     12,600        356,443  

Ishihara Sangyo Kaisha Ltd.(a)

     44,400        371,974  

JCU Corp.

     13,700        354,621  

JSP Corp.(a)

     22,400        261,044  

 

See Notes to Financial Statements.

 

30   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Japan Hedged Equity Fund (DXJ)

March 31, 2023

 

 

 

Investments    Shares      Value  

Kaneka Corp.

     30,400      $ 788,038  

Kansai Paint Co. Ltd.

     64,400        865,183  

KH Neochem Co. Ltd.

     28,800        518,915  

Kumiai Chemical Industry Co. Ltd.

     53,200        339,770  

Kuraray Co. Ltd.

     350,937        3,209,034  

Kureha Corp.(a)

     13,900        882,523  

Lintec Corp.

     72,547        1,180,136  

MEC Co. Ltd.(a)

     10,100        194,350  

Mitsubishi Chemical Group Corp.

     1,092,363        6,448,791  

Mitsubishi Gas Chemical Co., Inc.

     143,782        2,120,701  

Mitsui Chemicals, Inc.(a)

     142,315        3,646,361  

Nihon Nohyaku Co. Ltd.(a)

     46,600        235,994  

Nihon Parkerizing Co. Ltd.

     88,600        660,389  

Nippon Kayaku Co. Ltd.

     152,300        1,369,773  

Nippon Pillar Packing Co. Ltd.(a)

     28,100        791,758  

Nippon Sanso Holdings Corp.(a)

     106,253        1,901,680  

Nippon Shokubai Co. Ltd.

     31,400        1,245,713  

Nippon Soda Co. Ltd.

     30,600        1,061,079  

Nissan Chemical Corp.

     71,653        3,224,897  

Nitto Denko Corp.

     102,874        6,608,856  

NOF Corp.(a)

     37,400        1,733,849  

Osaka Soda Co. Ltd.(a)

     19,500        638,083  

Resonac Holdings Corp.

     81,100        1,325,972  

Riken Technos Corp.

     65,600        290,318  

Sanyo Chemical Industries Ltd.

     21,700        696,213  

Shin-Etsu Chemical Co. Ltd.

     1,045,395        33,579,259  

Shin-Etsu Polymer Co. Ltd.

     55,900        626,245  

Sumitomo Bakelite Co. Ltd.

     22,400        868,465  

Sumitomo Chemical Co. Ltd.(a)

     1,309,185        4,377,394  

T Hasegawa Co. Ltd.(a)

     22,500        502,273  

Taiyo Holdings Co. Ltd.(a)

     46,452        872,567  

Teijin Ltd.

     116,300        1,219,887  

Tokai Carbon Co. Ltd.

     113,100        1,070,749  

Tokuyama Corp.

     42,300        669,032  

Tokyo Ohka Kogyo Co. Ltd.

     29,200        1,687,189  

Toray Industries, Inc.

     581,918        3,307,257  

Tosoh Corp.

     429,507        5,799,264  

Toyo Ink SC Holdings Co. Ltd.

     48,400        747,693  

Toyobo Co. Ltd.

     64,751        505,495  

UBE Corp.

     88,900        1,372,676  

Valqua Ltd.

     26,300        680,769  

Zeon Corp.(a)

     88,600        931,335  
     

 

 

 
Total Chemicals

 

     115,655,366  
Commercial Services & Supplies – 0.3%

 

Dai Nippon Printing Co. Ltd.

     97,500        2,714,235  

Inui Global Logistics Co. Ltd.(a)

     65,700        885,116  

Pilot Corp.

     15,600        504,020  

Sato Holdings Corp.

     22,400        368,424  
     

 

 

 
Total Commercial Services & Supplies

 

     4,471,795  
Construction & Engineering – 0.6%

 

JGC Holdings Corp.(a)

     53,900        664,587  

Kajima Corp.

     321,500        3,860,223  

Nippon Koei Co. Ltd.

     17,600        445,653  

Obayashi Corp.

     422,800      3,218,096  

Penta-Ocean Construction Co. Ltd.

     139,300        661,489  

Taikisha Ltd.

     22,400        619,370  
     

 

 

 
Total Construction & Engineering

 

     9,469,418  
Construction Materials – 0.1%

 

Taiheiyo Cement Corp.

     65,900        1,231,447  
Consumer Staples Distribution & Retail – 0.8%

 

Seven & I Holdings Co. Ltd.

     258,824        11,619,757  
Containers & Packaging – 0.2%

 

Fuji Seal International, Inc.

     22,600        256,413  

Toyo Seikan Group Holdings Ltd.

     200,300        2,748,124  
     

 

 

 
Total Containers & Packaging

 

     3,004,537  
Diversified Consumer Services – 0.0%

 

Aucnet, Inc.

     12,200        146,576  
Electrical Equipment – 1.1%

 

Daihen Corp.

     22,100        736,445  

Fuji Electric Co. Ltd.

     37,073        1,448,490  

Fujikura Ltd.

     74,100        522,247  

Furukawa Electric Co. Ltd.(a)

     29,381        543,291  

GS Yuasa Corp.(a)

     22,284        398,832  

Idec Corp.

     22,600        583,297  

Mabuchi Motor Co. Ltd.

     25,200        729,927  

Mitsubishi Electric Corp.

     882,114        10,462,221  

Nippon Carbon Co. Ltd.

     18,800        579,157  

Sanyo Denki Co. Ltd.

     5,700        263,393  

Sinfonia Technology Co. Ltd.

     22,300        264,068  

Tatsuta Electric Wire & Cable Co. Ltd.

     43,400        231,854  
     

 

 

 
Total Electrical Equipment

 

     16,763,222  
Electronic Equipment, Instruments & Components – 3.8%

 

A&D HOLON Holdings Co. Ltd.

     21,700        232,180  

Ai Holdings Corp.

     40,400        695,442  

Alps Alpine Co. Ltd.(a)

     108,500        1,034,537  

Amano Corp.

     39,033        731,740  

Anritsu Corp.

     31,200        286,236  

Azbil Corp.

     38,500        1,044,293  

Canon Electronics, Inc.

     26,600        369,150  

Citizen Watch Co. Ltd.(a)

     273,800        1,600,544  

Dexerials Corp.(a)

     28,900        583,689  

Elematec Corp.

     53,700        747,660  

Hakuto Co. Ltd.(a)

     27,919        1,031,046  

Hamamatsu Photonics KK

     44,200        2,361,274  

Hioki EE Corp.

     6,500        421,970  

Hirose Electric Co. Ltd.

     23,660        3,070,165  

Horiba Ltd.

     22,400        1,331,310  

Ibiden Co. Ltd.(a)

     22,301        881,383  

Innotech Corp.

     17,900        186,007  

Iriso Electronics Co. Ltd.(a)

     6,900        254,557  

Japan Aviation Electronics Industry Ltd.(a)

     40,900        706,200  

Kaga Electronics Co. Ltd.

     27,300        1,027,673  

Keyence Corp.

     15,740        7,622,233  

Koa Corp.(a)

     22,400        310,022  

Macnica Holdings, Inc.

     39,500        1,115,937  

 

See Notes to Financial Statements.

 

WisdomTree Trust      31  


Schedule of Investments (continued)

WisdomTree Japan Hedged Equity Fund (DXJ)

March 31, 2023

 

 

 

Investments    Shares      Value  

Meiko Electronics Co. Ltd.(a)

     12,900      $ 283,220  

Murata Manufacturing Co. Ltd.

     218,568        13,203,747  

Nichicon Corp.

     44,800        464,528  

Nippon Ceramic Co. Ltd.

     22,300        453,071  

Nippon Electric Glass Co. Ltd.

     113,160        2,167,292  

Nissha Co. Ltd.

     22,700        317,073  

Optex Group Co. Ltd.

     22,500        350,966  

Osaki Electric Co. Ltd.(a)

     76,800        306,992  

Restar Holdings Corp.(a)

     22,500        365,843  

Riken Keiki Co. Ltd.(a)

     10,000        426,779  

Ryosan Co. Ltd.(a)

     22,445        553,157  

Sanshin Electronics Co. Ltd.(a)

     22,354        404,451  

Shimadzu Corp.

     57,000        1,773,086  

Siix Corp.

     22,400        237,313  

Taiyo Yuden Co. Ltd.

     45,000        1,501,240  

TDK Corp.

     131,804        4,679,344  

Tokyo Electron Device Ltd.(a)

     7,300        481,035  

Tomen Devices Corp.(a)

     11,400        561,906  

Topcon Corp.

     48,300        646,710  

V Technology Co. Ltd.

     21,100        444,861  

Yokogawa Electric Corp.

     65,738        1,061,963  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     58,329,825  
Entertainment – 2.5%

 

Capcom Co. Ltd.

     60,600        2,155,992  

GungHo Online Entertainment, Inc.

     22,400        407,640  

Koei Tecmo Holdings Co. Ltd.(a)

     135,844        2,437,414  

Konami Group Corp.

     54,100        2,467,406  

Marvelous, Inc.

     73,500        364,490  

Nexon Co. Ltd.

     57,900        1,372,564  

Nintendo Co. Ltd.

     677,600        26,123,417  

Square Enix Holdings Co. Ltd.

     58,400        2,790,773  

Toei Animation Co. Ltd.(a)

     4,600        454,850  
     

 

 

 
Total Entertainment

 

     38,574,546  
Food Products – 1.1%

 

Ajinomoto Co., Inc.(a)

     124,213        4,298,783  

Ariake Japan Co. Ltd.(a)

     8,000        293,335  

Calbee, Inc.(a)

     40,600        845,312  

Fuji Oil Holdings, Inc.(a)

     25,600        369,891  

Kagome Co. Ltd.

     22,400        520,069  

Kikkoman Corp.(a)

     26,000        1,316,703  

Nisshin Seifun Group, Inc.(a)

     122,200        1,424,091  

Nissin Foods Holdings Co. Ltd.

     32,400        2,952,979  

Nissui Corp.

     158,200        645,448  

Riken Vitamin Co. Ltd.(a)

     24,800        358,332  

Sakata Seed Corp.

     10,200        299,662  

Toyo Suisan Kaisha Ltd.

     24,500        1,021,677  

Yakult Honsha Co. Ltd.

     35,387        2,560,499  
     

 

 

 
Total Food Products

 

     16,906,781  
Ground Transportation – 0.0%

 

Alps Logistics Co. Ltd.(a)

     32,600        320,146  

Nishi-Nippon Railroad Co. Ltd.(a)

     22,300        400,793  
     

 

 

 
Total Ground Transportation

 

     720,939  
Health Care Equipment & Supplies – 0.9%

 

Eiken Chemical Co. Ltd.

     44,700      524,954  

Hoya Corp.

     43,157        4,721,361  

Jeol Ltd.

     11,600        369,990  

Mani, Inc.(a)

     22,400        303,963  

Nakanishi, Inc.

     30,300        598,077  

Nihon Kohden Corp.

     22,600        609,617  

Nipro Corp.(a)

     86,600        663,051  

Olympus Corp.

     95,200        1,658,436  

PHC Holdings Corp.

     109,000        1,172,800  

Terumo Corp.

     97,312        2,613,217  
     

 

 

 
Total Health Care Equipment & Supplies

 

     13,235,466  
Health Care Technology – 0.1%

 

M3, Inc.(a)

     36,700        910,262  
Hotels, Restaurants & Leisure – 0.0%

 

Round One Corp.(a)

     91,200        350,163  
Household Durables – 1.8%

 

Casio Computer Co. Ltd.(a)

     125,157        1,220,631  

Fujitsu General Ltd.(a)

     22,400        628,627  

JVCKenwood Corp.(a)

     93,400        267,378  

Nikon Corp.(a)

     179,100        1,823,431  

Panasonic Holdings Corp.

     1,095,870        9,732,650  

Rinnai Corp.

     42,300        1,028,180  

Sekisui Chemical Co. Ltd.

     215,300        3,034,810  

Sharp Corp.(a)

     437,900        3,069,808  

Sumitomo Forestry Co. Ltd.

     269,600        5,307,326  

Tamron Co. Ltd.(a)

     22,400        529,326  

Toa Corp.

     27,000        167,368  

Zojirushi Corp.(a)

     30,400        364,325  
     

 

 

 
Total Household Durables

 

     27,173,860  
Household Products – 0.3%

 

Lion Corp.

     80,100        861,245  

Pigeon Corp.

     68,200        1,049,980  

Unicharm Corp.

     79,900        3,266,480  
     

 

 

 
Total Household Products

 

     5,177,705  
Industrial Conglomerates – 1.4%

 

Hitachi Ltd.

     284,205        15,486,172  

Nisshinbo Holdings, Inc.

     134,024        1,019,102  

Toshiba Corp.

     153,600        5,130,003  
     

 

 

 
Total Industrial Conglomerates

 

     21,635,277  
Insurance – 4.6%

 

Dai-ichi Life Holdings, Inc.

     584,500        10,693,948  

MS&AD Insurance Group Holdings, Inc.

     455,700        14,058,939  

Sompo Holdings, Inc.

     312,200        12,320,042  

Tokio Marine Holdings, Inc.

     1,742,700        33,350,792  
     

 

 

 
Total Insurance

 

     70,423,721  
IT Services – 0.8%

 

Fujitsu Ltd.

     46,132        6,182,014  

NEC Corp.

     96,300        3,690,210  

NTT Data Corp.

     206,800        2,691,243  
     

 

 

 
Total IT Services

 

     12,563,467  

 

See Notes to Financial Statements.

 

32   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Japan Hedged Equity Fund (DXJ)

March 31, 2023

 

 

 

Investments    Shares      Value  
Leisure Products – 0.9%

 

Bandai Namco Holdings, Inc.

     353,100      $ 7,557,332  

GLOBERIDE, Inc.(a)

     12,000        222,977  

Mizuno Corp.

     22,700        529,593  

Roland Corp.

     12,400        371,283  

Sega Sammy Holdings, Inc.

     119,800        2,262,059  

Shimano, Inc.

     16,700        2,865,940  

Tomy Co. Ltd.

     46,100        512,992  
     

 

 

 
Total Leisure Products

 

     14,322,176  
Machinery – 5.6%

 

Amada Co. Ltd.

     209,793        1,951,489  

Anest Iwata Corp.

     32,200        242,667  

Asahi Diamond Industrial Co. Ltd.(a)

     59,700        419,860  

Bando Chemical Industries Ltd.

     50,100        398,270  

CKD Corp.

     45,000        726,952  

Daifuku Co. Ltd.

     72,000        1,321,632  

DMG Mori Co. Ltd.

     79,000        1,322,504  

Ebara Corp.

     48,231        2,221,474  

FANUC Corp.

     365,445        13,070,240  

Fujitec Co. Ltd.(a)

     35,000        863,889  

Glory Ltd.

     34,000        739,575  

Harmonic Drive Systems, Inc.(a)

     7,000        231,159  

Hitachi Construction Machinery Co. Ltd.

     117,100        2,705,556  

Hitachi Zosen Corp.

     59,000        383,906  

Hokuetsu Industries Co. Ltd.(a)

     24,300        255,251  

Hoshizaki Corp.(a)

     28,238        1,036,461  

IHI Corp.

     82,200        2,050,522  

Iwaki Co. Ltd.(a)

     22,500        219,607  

Japan Steel Works Ltd.(a)

     22,500        419,096  

Kawasaki Heavy Industries Ltd.(a)

     50,900        1,106,804  

Kitz Corp.

     82,400        574,553  

Komatsu Ltd.

     528,506        13,013,105  

Kurita Water Industries Ltd.(a)

     21,900        993,884  

Makino Milling Machine Co. Ltd.

     15,200        554,482  

Max Co. Ltd.

     45,100        718,401  

Meidensha Corp.

     22,300        321,875  

MISUMI Group, Inc.

     38,700        959,576  

Mitsubishi Heavy Industries Ltd.

     112,919        4,136,998  

Mitsuboshi Belting Ltd.

     49,400        1,460,583  

Miura Co. Ltd.(a)

     27,500        698,400  

Nabtesco Corp.

     42,600        1,037,073  

Nachi-Fujikoshi Corp.(a)

     22,500        667,781  

NGK Insulators Ltd.(a)

     237,575        3,127,443  

Nissei ASB Machine Co. Ltd.(a)

     7,000        206,176  

Nissei Plastic Industrial Co. Ltd.(a)

     26,800        199,555  

Nitta Corp.

     22,400        493,308  

Nomura Micro Science Co. Ltd.(a)

     6,600        206,049  

Noritake Co. Ltd.

     14,400        496,626  

NSK Ltd.(a)

     368,400        2,092,647  

Obara Group, Inc.(a)

     18,700        555,703  

OKUMA Corp.(a)

     16,800        746,021  

Organo Corp.(a)

     22,500        609,456  

OSG Corp.

     53,524        799,502  

Shibaura Machine Co. Ltd.

     17,900      423,661  

SMC Corp.

     15,251        8,001,933  

Sodick Co. Ltd.

     65,000        371,177  

Star Micronics Co. Ltd.

     37,400        506,666  

Sumitomo Heavy Industries Ltd.

     122,837        2,990,397  

Takeuchi Manufacturing Co. Ltd.

     22,300        491,274  

Teikoku Electric Manufacturing Co. Ltd.

     22,000        405,320  

THK Co. Ltd.

     57,300        1,315,287  

Tocalo Co. Ltd.

     65,700        639,772  

Torishima Pump Manufacturing Co. Ltd.

     22,500        265,253  

Tsubaki Nakashima Co. Ltd.

     14,400        103,329  

Tsubakimoto Chain Co.

     34,800        840,649  

Tsugami Corp.

     22,300        240,275  

YAMABIKO Corp.

     56,800        561,641  

Yaskawa Electric Corp.(a)

     56,700        2,458,179  
     

 

 

 
Total Machinery

 

     85,970,924  
Marine Transportation – 3.2%

 

Iino Kaiun Kaisha Ltd.

     152,200        1,148,162  

Mitsui OSK Lines Ltd.(a)

     793,400        19,732,166  

Nippon Yusen KK(a)

     1,147,100        26,624,028  

NS United Kaiun Kaisha Ltd.(a)

     31,600        977,038  
     

 

 

 
Total Marine Transportation

 

     48,481,394  
Media – 0.4%

 

Dentsu Group, Inc.

     134,500        4,699,264  

Hakuhodo DY Holdings, Inc.(a)

     175,200        1,968,021  
     

 

 

 
Total Media

 

     6,667,285  
Metals & Mining – 3.5%

 

Asahi Holdings, Inc.(a)

     58,900        894,852  

Daido Steel Co. Ltd.(a)

     35,100        1,371,403  

Daiki Aluminium Industry Co. Ltd.(a)

     32,300        346,565  

Dowa Holdings Co. Ltd.(a)

     30,100        960,061  

Kobe Steel Ltd.

     480,500        3,801,687  

Kyoei Steel Ltd.(a)

     24,100        291,177  

Maruichi Steel Tube Ltd.

     65,700        1,436,524  

Mitsubishi Materials Corp.

     62,500        1,012,942  

Mitsui Mining & Smelting Co. Ltd.(a)

     49,400        1,193,335  

Neturen Co. Ltd.

     22,600        118,018  

Nippon Light Metal Holdings Co. Ltd.(a)

     65,600        720,619  

Nippon Steel Corp.

     1,167,600        27,371,794  

Nippon Yakin Kogyo Co. Ltd.(a)

     15,710        502,262  

Nittetsu Mining Co. Ltd.(a)

     15,500        416,936  

Sanyo Special Steel Co. Ltd.

     47,000        865,910  

Sumitomo Metal Mining Co. Ltd.

     294,000        11,153,400  

Toho Titanium Co. Ltd.(a)

     14,100        233,605  

Tokyo Steel Manufacturing Co. Ltd.(a)

     85,700        879,602  

UACJ Corp.(a)

     32,400        641,476  
     

 

 

 
Total Metals & Mining

 

     54,212,168  
Oil, Gas & Consumable Fuels – 1.8%

 

ENEOS Holdings, Inc.

     3,445,100        12,041,930  

Idemitsu Kosan Co. Ltd.(a)

     253,100        5,514,990  

 

See Notes to Financial Statements.

 

WisdomTree Trust      33  


Schedule of Investments (continued)

WisdomTree Japan Hedged Equity Fund (DXJ)

March 31, 2023

 

 

 

Investments    Shares      Value  

Inpex Corp.

     850,700      $ 8,929,506  

Nippon Coke & Engineering Co. Ltd.(a)

     496,400        324,493  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     26,810,919  
Paper & Forest Products – 0.2%

 

Daiken Corp.

     25,500        436,847  

Hokuetsu Corp.(a)

     88,300        588,490  

Oji Holdings Corp.

     472,700        1,861,108  
     

 

 

 
Total Paper & Forest Products

 

     2,886,445  
Personal Care Products – 0.8%

 

Kao Corp.

     191,280        7,426,131  

Kose Corp.(a)

     10,100        1,189,931  

Rohto Pharmaceutical Co. Ltd.

     54,300        1,130,145  

Shiseido Co. Ltd.(a)

     66,522        3,089,432  
     

 

 

 
Total Personal Care Products

 

     12,835,639  
Pharmaceuticals – 7.0%

 

Astellas Pharma, Inc.

     795,204        11,250,801  

Chugai Pharmaceutical Co. Ltd.(a)

     886,000        21,768,878  

Daiichi Sankyo Co. Ltd.

     188,400        6,825,943  

Eisai Co. Ltd.

     88,600        4,995,525  

Hisamitsu Pharmaceutical Co., Inc.

     36,900        1,048,028  

Kyowa Kirin Co. Ltd.

     116,970        2,536,445  

Nippon Shinyaku Co. Ltd.

     14,900        652,694  

Ono Pharmaceutical Co. Ltd.

     221,400        4,598,013  

Otsuka Holdings Co. Ltd.

     188,900        5,965,487  

Santen Pharmaceutical Co. Ltd.

     215,700        1,831,400  

Shionogi & Co. Ltd.

     88,677        3,982,436  

Sumitomo Pharma Co. Ltd.

     130,800        796,063  

Taisho Pharmaceutical Holdings Co. Ltd.(a)

     26,800        1,111,549  

Takeda Pharmaceutical Co. Ltd.

     1,201,963        39,285,739  

Towa Pharmaceutical Co. Ltd.

     22,400        318,942  
     

 

 

 
Total Pharmaceuticals

 

     106,967,943  
Professional Services – 0.4%

 

en Japan, Inc.(a)

     22,400        383,572  

Open Up Group, Inc.

     36,200        521,961  

Persol Holdings Co. Ltd.

     48,800        973,140  

Recruit Holdings Co. Ltd.

     117,800        3,230,671  

Transcosmos, Inc.(a)

     55,800        1,314,396  
     

 

 

 
Total Professional Services

 

     6,423,740  
Real Estate Management & Development – 0.0%

 

Relo Group, Inc.

     31,900        504,542  
Semiconductors & Semiconductor Equipment – 4.2%

 

Advantest Corp.(a)

     58,100        5,308,408  

Disco Corp.

     67,500        7,759,787  

Ferrotec Holdings Corp.(a)

     16,900        421,579  

Furuya Metal Co. Ltd.(a)

     3,900        266,369  

Micronics Japan Co. Ltd.

     30,900        309,487  

Mitsui High-Tec, Inc.

     4,900        307,792  

Optorun Co. Ltd.

     14,900        247,867  

Rohm Co. Ltd.

     33,400        2,753,009  

SCREEN Holdings Co. Ltd.(a)

     29,860        2,613,788  

Shibaura Mechatronics Corp.

     3,400        411,301  

Shinko Electric Industries Co. Ltd.(a)

     35,059      1,074,767  

SUMCO Corp.

     180,500        2,686,682  

Tokyo Electron Ltd.

     297,459        35,849,743  

Tokyo Seimitsu Co. Ltd.

     53,400        2,054,309  

Ulvac, Inc.

     20,200        872,718  

Yamaichi Electronics Co. Ltd.(a)

     38,800        573,443  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     63,511,049  
Software – 0.3%

 

Cybernet Systems Co. Ltd.(a)

     30,300        201,939  

Trend Micro, Inc.

     83,208        4,045,051  
     

 

 

 
Total Software

 

     4,246,990  
Specialty Retail – 0.8%

 

ABC-Mart, Inc.(a)

     32,400        1,782,012  

Fast Retailing Co. Ltd.

     39,000        8,462,845  

IDOM, Inc.

     55,200        354,617  

Sanrio Co. Ltd.

     10,000        445,563  

VT Holdings Co. Ltd.

     136,800        521,133  
     

 

 

 
Total Specialty Retail

 

     11,566,170  
Technology Hardware, Storage & Peripherals – 2.2%

 

Brother Industries Ltd.

     107,343        1,606,637  

Canon, Inc.(a)

     705,797        15,673,477  

Eizo Corp.(a)

     16,700        513,836  

FUJIFILM Holdings Corp.

     137,595        6,924,722  

Konica Minolta, Inc.(a)

     432,800        1,850,351  

MCJ Co. Ltd.

     35,900        251,130  

Ricoh Co. Ltd.

     280,000        2,084,905  

Riso Kagaku Corp.(a)

     22,400        388,285  

Roland DG Corp.(a)

     15,500        385,491  

Seiko Epson Corp.(a)

     186,500        2,635,859  

Toshiba TEC Corp.(a)

     5,800        170,396  

Wacom Co. Ltd.(a)

     79,200        410,609  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     32,895,698  
Textiles, Apparel & Luxury Goods – 0.2%

 

Asics Corp.

     44,992        1,267,714  

Descente Ltd.(a)

     10,100        314,178  

Kurabo Industries Ltd.

     22,447        424,518  

Seiko Group Corp.

     22,300        485,074  

Wacoal Holdings Corp.(a)

     34,100        637,213  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     3,128,697  
Tobacco – 2.7%

 

Japan Tobacco, Inc.

     1,942,631        40,840,646  
Trading Companies & Distributors – 12.0%

 

Alconix Corp.(a)

     22,600        231,111  

Chori Co. Ltd.

     30,100        567,216  

Hanwa Co. Ltd.

     22,400        663,972  

Inabata & Co. Ltd.

     44,186        892,086  

ITOCHU Corp.(a)

     761,694        24,615,267  

KPP Group Holdings Co. Ltd.(a)

     22,600        113,773  

Marubeni Corp.

     1,882,278        25,393,569  

Mitsubishi Corp.

     1,233,600        44,036,619  

Mitsui & Co. Ltd.

     1,316,800        40,723,937  

 

See Notes to Financial Statements.

 

34   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Japan Hedged Equity Fund (DXJ)

March 31, 2023

 

 

 

Investments    Shares      Value  

Mitsui Matsushima Holdings Co. Ltd.(a)

     15,400      $ 380,111  

Nagase & Co. Ltd.

     65,700        1,004,580  

Nippon Steel Trading Corp.

     33,100        2,310,459  

Sanyo Trading Co. Ltd.

     22,500        204,899  

Shinsho Corp.

     18,100        788,790  

Sojitz Corp.(a)

     294,104        6,105,713  

Sumitomo Corp.

     1,552,477        27,307,451  

Toyota Tsusho Corp.

     189,110        7,985,560  
     

 

 

 
Total Trading Companies & Distributors

 

     183,325,113  
Transportation Infrastructure – 0.0%

 

Nissin Corp.

     15,800        251,086  

TOTAL COMMON STOCKS

(Cost: $1,532,076,984)

 

 

     1,524,997,526  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 5.4%

 

United States – 5.4%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(b)

     
(Cost: $82,913,897)      82,913,897        82,913,897  

TOTAL INVESTMENTS IN SECURITIES – 105.1%

(Cost: $1,614,990,881)

 

 

     1,607,911,423  

Other Assets less Liabilities – (5.1)%

 

     (77,729,510
     

 

 

 
NET ASSETS – 100.0%

 

   $ 1,530,181,913  
* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $182,407,130. The Fund also had securities on loan having a total market value of $180,363 that were sold and pending settlement. The total market value of the collateral held by the Fund was $194,251,635. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $111,337,738.

 

(b) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

Bank of America NA

    4/5/2023       2,394,997,722       JPY       17,638,460       USD     $ 359,424     $  

Bank of America NA

    4/5/2023       929,502,393       JPY       7,055,384       USD             (70,377

Barclays Bank PLC

    4/5/2023       1,384,633,573       JPY       10,583,076       USD             (177,858

Citibank NA

    4/5/2023       1,866,114,574       JPY       14,205,861       USD             (182,418

Citibank NA

    4/5/2023       399,511,125       USD       54,161,283,754       JPY             (7,499,078

Goldman Sachs

    4/5/2023       50,461,810,947       JPY       379,203,123       USD       6,351        

Goldman Sachs

    4/5/2023       399,511,125       USD       54,161,243,802       JPY             (7,498,777

Goldman Sachs

    5/8/2023       377,841,957       USD       50,042,824,584       JPY             (11,697

HSBC Holdings PLC

    4/5/2023       5,257,916,408       JPY       38,804,613       USD       707,479        

JP Morgan Chase Bank NA

    4/5/2023       1,434,696,814       JPY       10,583,076       USD       198,357        

JP Morgan Chase Bank NA

    4/5/2023       1,417,042,127       JPY       10,583,076       USD       65,686        

JP Morgan Chase Bank NA

    4/5/2023       1,401,170,688       JPY       10,583,076       USD             (53,585

JP Morgan Chase Bank NA

    4/5/2023       50,461,545,505       JPY       379,203,123       USD       4,356        

JP Morgan Chase Bank NA

    4/5/2023       399,511,125       USD       54,161,403,607       JPY             (7,499,978

JP Morgan Chase Bank NA

    4/5/2023       38,804,613       USD       5,150,769,111       JPY       97,710        

JP Morgan Chase Bank NA

    5/8/2023       377,841,957       USD       50,042,295,605       JPY             (7,703

Royal Bank of Canada

    4/3/2023       256,925       USD       34,106,058       JPY       662        

Royal Bank of Canada

    4/5/2023       50,461,443,500       JPY       379,203,123       USD       3,589        

Royal Bank of Canada

    4/5/2023       399,511,124       USD       54,161,867,703       JPY             (7,503,467

Royal Bank of Canada

    5/8/2023       377,841,957       USD       50,042,193,966       JPY             (6,936

Standard Chartered Bank

    4/5/2023       50,461,696,920       JPY       379,203,121       USD       5,496        

Standard Chartered Bank

    5/8/2023       377,841,957       USD       50,042,522,310       JPY             (9,415
                                            $ 1,449,110     $ (30,521,289

 

See Notes to Financial Statements.

 

WisdomTree Trust      35  


Schedule of Investments (concluded)

WisdomTree Japan Hedged Equity Fund (DXJ)

March 31, 2023

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

     

Investments in Securities

  

Common Stocks

   $ 1,524,997,526      $      $      $ 1,524,997,526  

Investment of Cash Collateral for Securities Loaned

            82,913,897               82,913,897  

Total Investments in Securities

   $ 1,524,997,526      $ 82,913,897      $      $ 1,607,911,423  

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ 1,449,110      $      $ 1,449,110  

Liabilities:

        

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ (30,521,289    $      $ (30,521,289

Total – Net

   $ 1,524,997,526      $ 53,841,718      $      $ 1,578,839,244  
1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

36   WisdomTree Trust


Schedule of Investments

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.9%

 

Japan – 99.9%

 

Air Freight & Logistics – 1.3%

 

AIT Corp.

     1,500      $ 18,213  

AZ-COM MARUWA Holdings, Inc.

     1,900        28,409  

Hamakyorex Co. Ltd.

     800        19,385  

Konoike Transport Co. Ltd.

     2,000        22,376  

Mitsui-Soko Holdings Co. Ltd.

     1,800        53,085  

Sankyu, Inc.

     1,500        55,282  

SBS Holdings, Inc.

     800        20,197  

Senko Group Holdings Co. Ltd.

     7,700        54,674  

Shibusawa Warehouse Co. Ltd.(a)

     1,300        21,704  

Trancom Co. Ltd.(a)

     200        11,120  
     

 

 

 
Total Air Freight & Logistics

 

     304,445  
Automobile Components – 4.8%

 

Aisan Industry Co. Ltd.

     2,800        18,914  

Daido Metal Co. Ltd.(a)

     4,700        18,046  

Daikyonishikawa Corp.(a)

     4,100        19,870  

Eagle Industry Co. Ltd.

     3,900        34,813  

Exedy Corp.

     5,000        68,112  

Fujikura Composites, Inc.(a)

     1,700        14,000  

FuKoKu Co. Ltd.

     1,500        11,586  

Futaba Industrial Co. Ltd.(a)

     3,500        11,203  

G-Tekt Corp.

     1,998        21,498  

KYB Corp.

     1,800        54,369  

Musashi Seimitsu Industry Co. Ltd.(a)

     2,500        35,070  

NHK Spring Co. Ltd.

     15,000        106,732  

NOK Corp.(a)

     8,500        93,437  

Pacific Industrial Co. Ltd.

     3,000        26,012  

Piolax, Inc.

     2,100        30,453  

Press Kogyo Co. Ltd.

     10,700        40,038  

Riken Corp.

     1,200        23,380  

Seiren Co. Ltd.(a)

     1,300        22,779  

Shoei Co. Ltd.

     1,800        37,517  

Sumitomo Riko Co. Ltd.(a)

     3,500        18,119  

Sumitomo Rubber Industries Ltd.

     10,800        97,053  

Suncall Corp.(a)

     2,200        9,802  

T RAD Co. Ltd.*(a)

     700        12,339  

Tachi-S Co. Ltd.

     2,700        24,344  

Tokai Rika Co. Ltd.(a)

     4,225        51,650  

Toyo Tire Corp.(a)

     8,600        99,835  

Toyoda Gosei Co. Ltd.(a)

     3,500        59,959  

TPR Co. Ltd.

     1,706        17,164  

TS Tech Co. Ltd.

     5,700        71,908  

Unipres Corp.(a)

     1,600        11,060  
     

 

 

 
Total Automobile Components

 

     1,161,062  
Automobiles – 0.1%

 

Nissan Shatai Co. Ltd.(a)

     3,000        19,070  
Banks – 7.8%

 

77 Bank Ltd.(a)

     5,500        89,346  

Akita Bank Ltd.

     1,300        17,230  

Aozora Bank Ltd.(a)

     8,300        149,611  

Awa Bank Ltd.(a)

     1,100        16,117  

Bank of Iwate Ltd.

     1,400      $ 22,343  

Bank of Nagoya Ltd.

     1,400        33,188  

Bank of Saga Ltd.(a)

     1,200        14,607  

Bank of the Ryukyus Ltd.(a)

     3,500        24,352  

Daishi Hokuetsu Financial Group, Inc.

     2,300        49,944  

Ehime Bank Ltd.(a)

     2,600        16,449  

FIDEA Holdings Co. Ltd.

     1,800        18,028  

First Bank of Toyama Ltd.(a)

     4,000        17,702  

Gunma Bank Ltd.

     17,300        57,584  

Hachijuni Bank Ltd.

     21,300        92,024  

Hirogin Holdings, Inc.(a)

     15,500        72,906  

Hokkoku Financial Holdings, Inc.(a)

     600        18,642  

Hokuhoku Financial Group, Inc.

     5,500        38,226  

Hyakugo Bank Ltd.

     8,700        24,252  

Hyakujushi Bank Ltd.

     2,300        31,746  

Juroku Financial Group, Inc.(a)

     1,900        40,316  

Keiyo Bank Ltd.(a)

     6,500        27,643  

Kiyo Bank Ltd.(a)

     1,998        22,278  

Kyushu Financial Group, Inc.(a)

     15,600        55,911  

Mebuki Financial Group, Inc.

     43,800        106,629  

Miyazaki Bank Ltd.

     900        15,824  

Musashino Bank Ltd.(a)

     1,700        28,382  

Nanto Bank Ltd.(a)

     1,400        24,447  

Nishi-Nippon Financial Holdings, Inc.

     8,000        65,399  

North Pacific Bank Ltd.

     17,800        37,181  

Ogaki Kyoritsu Bank Ltd.(a)

     1,700        22,813  

Oita Bank Ltd.(a)

     1,100        16,910  

Okinawa Financial Group, Inc.

     1,040        16,269  

Procrea Holdings, Inc.(a)

     700        11,071  

San ju San Financial Group, Inc.

     2,300        27,288  

San-In Godo Bank Ltd.

     13,200        73,295  

Senshu Ikeda Holdings, Inc.(a)

     23,700        41,313  

Seven Bank Ltd.(a)

     74,800        148,937  

Shiga Bank Ltd.(a)

     3,200        64,414  

Shikoku Bank Ltd.(a)

     2,600        17,016  

Suruga Bank Ltd.

     4,300        14,991  

Toho Bank Ltd.(a)

     15,600        25,435  

Tokyo Kiraboshi Financial Group, Inc.

     2,300        45,364  

TOMONY Holdings, Inc.(a)

     4,800        12,731  

Towa Bank Ltd.

     3,300        13,489  

Yamagata Bank Ltd.(a)

     1,900        14,462  

Yamaguchi Financial Group, Inc.(a)

     10,500        64,062  

Yamanashi Chuo Bank Ltd.

     2,300        19,735  
     

 

 

 
Total Banks

 

     1,877,902  
Beverages – 0.8%

 

Coca-Cola Bottlers Japan Holdings, Inc.

     8,800        95,544  

Sapporo Holdings Ltd.

     1,100        28,143  

Takara Holdings, Inc.(a)

     7,700        59,128  
     

 

 

 
Total Beverages

 

     182,815  
Biotechnology – 0.2%

 

Takara Bio, Inc.

     3,000        39,064  
Broadline Retail – 1.1%

 

ASKUL Corp.

     2,300        29,776  

 

See Notes to Financial Statements.

 

WisdomTree Trust      37  


Schedule of Investments (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Belluna Co. Ltd.(a)

     3,000      $ 15,824  

Izumi Co. Ltd.

     2,200        51,987  

J. Front Retailing Co. Ltd.

     7,800        77,478  

Mr. Max Holdings Ltd.

     2,700        13,755  

Seria Co. Ltd.

     2,400        47,282  

Takashimaya Co. Ltd.(a)

     2,700        39,215  
     

 

 

 
Total Broadline Retail

 

     275,317  
Building Products – 1.6%

 

Bunka Shutter Co. Ltd.(a)

     2,800        23,268  

Central Glass Co. Ltd.

     1,400        30,895  

Nichias Corp.

     4,000        79,976  

Nichiha Corp.

     1,500        30,419  

Nitto Boseki Co. Ltd.

     1,000        15,140  

Noritz Corp.

     1,500        19,577  

Okabe Co. Ltd.

     3,400        19,620  

Sanwa Holdings Corp.

     8,400        89,371  

Shin Nippon Air Technologies Co. Ltd.(a)

     900        12,612  

Takara Standard Co. Ltd.

     2,517        27,782  

Takasago Thermal Engineering Co. Ltd.

     2,200        34,862  
     

 

 

 
Total Building Products

 

     383,522  
Capital Markets – 1.2%

 

Ichiyoshi Securities Co. Ltd.(a)

     4,600        20,911  

IwaiCosmo Holdings, Inc.(a)

     1,900        19,130  

Matsui Securities Co. Ltd.(a)

     14,300        84,130  

Monex Group, Inc.(a)

     9,865        35,357  

Okasan Securities Group, Inc.(a)

     10,900        38,575  

SBI Global Asset Management Co. Ltd.

     5,099        18,428  

Sparx Group Co. Ltd.(a)

     2,039        22,184  

Tokai Tokyo Financial Holdings, Inc.(a)

     18,500        50,875  
     

 

 

 
Total Capital Markets

 

     289,590  
Chemicals – 10.1%

 

ADEKA Corp.

     4,100        69,560  

Aica Kogyo Co. Ltd.(a)

     2,600        59,291  

Arakawa Chemical Industries Ltd.(a)

     1,700        12,735  

Asahi Yukizai Corp.(a)

     900        21,403  

C. Uyemura & Co. Ltd.

     900        43,820  

Chugoku Marine Paints Ltd.

     2,700        22,214  

CI Takiron Corp.(a)

     4,000        14,817  

Dai Nippon Toryo Co. Ltd.

     2,700        17,183  

Daicel Corp.

     13,700        102,938  

Dainichiseika Color & Chemicals Manufacturing Co. Ltd.

     900        12,057  

Denka Co. Ltd.

     4,300        88,365  

DIC Corp.

     4,000        71,530  

DKS Co. Ltd.

     700        9,914  

Fujimi, Inc.(a)

     1,500        82,275  

Fujimori Kogyo Co. Ltd.

     600        14,359  

Fuso Chemical Co. Ltd.(a)

     800        22,631  

Harima Chemicals Group, Inc.(a)

     2,000        13,179  

Ishihara Sangyo Kaisha Ltd.

     2,500        20,944  

JCU Corp.

     700        18,119  

JSP Corp.

     1,217        14,183  

Kaneka Corp.

     2,348        60,866  

Kanto Denka Kogyo Co. Ltd.

     2,100      16,268  

KH Neochem Co. Ltd.

     2,000        36,036  

Konishi Co. Ltd.

     1,200        17,266  

Kumiai Chemical Industry Co. Ltd.

     3,994        25,508  

Kureha Corp.(a)

     700        44,444  

Lintec Corp.

     5,100        82,963  

Moriroku Holdings Co. Ltd.(a)

     1,400        19,366  

Nihon Nohyaku Co. Ltd.(a)

     2,700        13,673  

Nihon Parkerizing Co. Ltd.

     6,700        49,939  

Nippon Kayaku Co. Ltd.

     10,600        95,335  

Nippon Pillar Packing Co. Ltd.

     2,000        56,353  

Nippon Shokubai Co. Ltd.

     2,200        87,279  

Nippon Soda Co. Ltd.

     2,200        76,287  

Osaka Organic Chemical Industry Ltd.

     800        12,960  

Osaka Soda Co. Ltd.(a)

     1,077        35,242  

Riken Technos Corp.

     2,900        12,834  

Sakai Chemical Industry Co. Ltd.(a)

     1,500        19,949  

Sakata INX Corp.

     2,200        17,109  

Sanyo Chemical Industries Ltd.

     1,000        32,084  

Shikoku Kasei Holdings Corp.(a)

     1,300        13,704  

Shin-Etsu Polymer Co. Ltd.

     3,700        41,451  

Sumitomo Bakelite Co. Ltd.(a)

     1,700        65,910  

T Hasegawa Co. Ltd.(a)

     1,400        31,253  

Taiyo Holdings Co. Ltd.(a)

     3,000        56,353  

Takasago International Corp.(a)

     900        17,697  

Teijin Ltd.

     8,800        92,304  

Toagosei Co. Ltd.

     7,500        69,427  

Tokai Carbon Co. Ltd.

     8,000        75,738  

Tokuyama Corp.(a)

     3,100        49,031  

Tokyo Ohka Kogyo Co. Ltd.

     2,000        115,561  

Toyo Ink SC Holdings Co. Ltd.

     2,900        44,800  

Toyobo Co. Ltd.(a)

     3,800        29,666  

UBE Corp.(a)

     5,480        84,615  

Valqua Ltd.

     1,700        44,004  

Zeon Corp.(a)

     6,700        70,428  
     

 

 

 
Total Chemicals

 

     2,445,220  
Commercial Services & Supplies – 1.5%

 

Aeon Delight Co. Ltd.

     1,200        27,410  

Daiseki Co. Ltd.

     640        20,173  

Inui Global Logistics Co. Ltd.

     3,900        52,541  

Japan Elevator Service Holdings Co. Ltd.(a)

     800        12,912  

Kokuyo Co. Ltd.

     4,200        59,265  

Mitsubishi Pencil Co. Ltd.

     1,700        20,769  

Nippon Kanzai Co. Ltd.*(a)

     1,300        26,305  

Nippon Parking Development Co. Ltd.

     10,500        18,382  

Okamura Corp.(a)

     3,000        30,746  

Pilot Corp.

     800        25,847  

Prestige International, Inc.

     2,400        10,748  

Sato Holdings Corp.(a)

     1,200        19,737  

Studio Alice Co. Ltd.(a)

     900        14,492  

Takara & Co. Ltd.

     800        13,495  

TRE Holdings Corp.(a)

     1,400        15,042  
     

 

 

 
Total Commercial Services & Supplies

 

     367,864  

 

See Notes to Financial Statements.

 

38   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

March 31, 2023

 

 

 

Investments    Shares      Value  
Construction & Engineering – 5.4%

 

Asanuma Corp.(a)

     1,500      $ 35,108  

CTI Engineering Co. Ltd.

     400        9,077  

Dai-Dan Co. Ltd.(a)

     900        16,020  

Daiho Corp.(a)

     1,600        44,241  

EXEO Group, Inc.

     5,100        91,853  

Hazama Ando Corp.(a)

     8,200        52,740  

INFRONEER Holdings, Inc.

     10,468        80,384  

JDC Corp.

     3,400        15,430  

Kandenko Co. Ltd.

     5,800        40,747  

Kumagai Gumi Co. Ltd.

     1,900        37,960  

Kyudenko Corp.(a)

     2,300        58,152  

MIRAIT ONE Corp.

     4,444        55,062  

Nippon Koei Co. Ltd.

     900        22,789  

Nippon Road Co. Ltd.

     300        16,455  

Nishimatsu Construction Co. Ltd.(a)

     3,900        100,364  

Nittoc Construction Co. Ltd.

     3,200        23,371  

Okumura Corp.

     2,100        49,388  

Oriental Shiraishi Corp.

     7,700        18,861  

Penta-Ocean Construction Co. Ltd.

     8,800        41,788  

PS Mitsubishi Construction Co. Ltd.(a)

     3,600        17,690  

Raito Kogyo Co. Ltd.

     2,100        30,784  

Raiznext Corp.

     2,000        21,865  

Sanki Engineering Co. Ltd.(a)

     4,900        53,900  

Seikitokyu Kogyo Co. Ltd.(a)

     1,500        9,140  

Shinnihon Corp.

     2,700        18,989  

Sumitomo Mitsui Construction Co. Ltd.(a)

     6,840        19,735  

Taihei Dengyo Kaisha Ltd.(a)

     900        27,421  

Taikisha Ltd.(a)

     1,100        30,415  

Takamatsu Construction Group Co. Ltd.

     900        13,721  

Tekken Corp.

     1,000        13,592  

Tess Holdings Co. Ltd.

     1,000        8,137  

Toa Corp.(a)

     800        15,953  

Tobishima Corp.

     2,000        15,839  

Toda Corp.(a)

     11,400        59,189  

Tokyu Construction Co. Ltd.

     3,300        16,737  

Totetsu Kogyo Co. Ltd.

     1,200        24,426  

Toyo Construction Co. Ltd.

     3,000        20,648  

Wakachiku Construction Co. Ltd.(a)

     700        20,092  

Yokogawa Bridge Holdings Corp.

     1,700        27,641  

Yondenko Corp.(a)

     900        12,781  

Yurtec Corp.(a)

     2,900        18,064  
     

 

 

 
Total Construction & Engineering

 

     1,306,549  
Construction Materials – 0.6%

 

Sumitomo Osaka Cement Co. Ltd.(a)

     1,400        39,237  

Taiheiyo Cement Corp.

     4,900        91,564  

Yotai Refractories Co. Ltd.

     1,400        15,968  
     

 

 

 
Total Construction Materials

 

     146,769  
Consumer Finance – 0.0%

 

J Trust Co. Ltd.(a)

     2,300        6,826  
Consumer Staples Distribution & Retail – 2.0%

 

Aeon Hokkaido Corp.(a)

     1,500        9,062  

Ain Holdings, Inc.

     400        16,680  

Arcs Co. Ltd.

     2,700      45,544  

Belc Co. Ltd.

     400        16,831  

Create SD Holdings Co. Ltd.

     1,200        30,295  

Fuji Co. Ltd.(a)

     1,400        18,177  

G-7 Holdings, Inc.(a)

     1,400        15,211  

H2O Retailing Corp.(a)

     2,900        32,445  

Heiwado Co. Ltd.

     1,200        18,348  

Inageya Co. Ltd.(a)

     1,400        13,496  

JM Holdings Co. Ltd.(a)

     900        13,112  

Kato Sangyo Co. Ltd.

     1,500        39,560  

Life Corp.

     1,500        29,089  

Mitsubishi Shokuhin Co. Ltd.

     2,000        48,839  

Qol Holdings Co. Ltd.(a)

     1,500        13,085  

Retail Partners Co. Ltd.

     1,100        11,274  

San-A Co. Ltd.

     400        12,262  

United Super Markets Holdings, Inc.

     2,300        19,252  

Valor Holdings Co. Ltd.

     2,000        28,943  

Yaoko Co. Ltd.(a)

     600        31,107  

Yokorei Co. Ltd.(a)

     1,700        12,250  
     

 

 

 
Total Consumer Staples Distribution & Retail

 

     474,862  
Containers & Packaging – 0.4%

 

FP Corp.(a)

     1,300        32,038  

Fuji Seal International, Inc.(a)

     1,500        17,019  

Rengo Co. Ltd.(a)

     9,081        58,611  
     

 

 

 
Total Containers & Packaging

 

     107,668  
Distributors – 0.5%

 

Arata Corp.

     700        21,328  

Doshisha Co. Ltd.(a)

     1,500        21,842  

Happinet Corp.(a)

     1,200        16,789  

PALTAC Corp.(a)

     1,300        49,034  
     

 

 

 
Total Distributors

 

     108,993  
Diversified Consumer Services – 0.5%

 

Asante, Inc.(a)

     1,200        14,877  

Aucnet, Inc.(a)

     900        10,813  

Benesse Holdings, Inc.(a)

     2,700        39,357  

Gakkyusha Co. Ltd.

     800        11,908  

Riso Kyoiku Co. Ltd.

     9,300        22,989  

Tokyo Individualized Educational Institute, Inc.

     4,700        18,964  
     

 

 

 
Total Diversified Consumer Services

 

     118,908  
Diversified Telecommunication Services – 0.1%

 

ARTERIA Networks Corp.

     2,900        27,782  
Electrical Equipment – 1.6%

 

Cosel Co. Ltd.

     1,300        11,106  

Daihen Corp.

     1,000        33,323  

Fujikura Ltd.

     4,700        33,125  

Furukawa Electric Co. Ltd.(a)

     1,726        31,916  

GS Yuasa Corp.(a)

     1,800        32,216  

Idec Corp.

     1,500        38,714  

Mabuchi Motor Co. Ltd.

     2,000        57,931  

Nippon Carbon Co. Ltd.

     900        27,725  

Nitto Kogyo Corp.(a)

     1,700        33,747  

Sanyo Denki Co. Ltd.

     300        13,863  

 

See Notes to Financial Statements.

 

WisdomTree Trust      39  


Schedule of Investments (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Sinfonia Technology Co. Ltd.

     2,000      $ 23,683  

SWCC Showa Holdings Co. Ltd.(a)

     900        12,815  

Takaoka Toko Co. Ltd.(a)

     800        14,132  

Toyo Tanso Co. Ltd.

     700        21,591  
     

 

 

 
Total Electrical Equipment

 

     385,887  
Electronic Equipment, Instruments & Components – 7.1%

 

A&D HOLON Holdings Co. Ltd.(a)

     1,200        12,839  

Ai Holdings Corp.

     2,600        44,756  

Alps Alpine Co. Ltd.(a)

     6,600        62,930  

Amano Corp.

     2,700        50,616  

Anritsu Corp.

     3,700        33,945  

Canon Electronics, Inc.

     1,500        20,817  

Citizen Watch Co. Ltd.(a)

     18,400        107,560  

Daishinku Corp.(a)

     2,000        10,925  

Daitron Co. Ltd.

     1,000        20,039  

Daiwabo Holdings Co. Ltd.

     3,400        55,768  

Dexerials Corp.(a)

     2,000        40,394  

Elematec Corp.

     3,158        43,969  

ESPEC Corp.

     1,100        16,819  

Hakuto Co. Ltd.(a)

     2,000        73,860  

Hioki EE Corp.

     400        25,967  

Hochiki Corp.

     1,300        15,121  

Horiba Ltd.

     1,600        95,094  

I-PEX, Inc.

     1,000        10,579  

Innotech Corp.

     1,400        14,548  

Iriso Electronics Co. Ltd.

     400        14,757  

Japan Aviation Electronics Industry Ltd.(a)

     3,000        51,800  

Kaga Electronics Co. Ltd.

     1,700        63,994  

Koa Corp.(a)

     1,300        17,992  

Kyosan Electric Manufacturing Co. Ltd.

     3,300        10,538  

Macnica Holdings, Inc.

     2,900        81,930  

Marubun Corp.(a)

     1,700        17,448  

Maruwa Co. Ltd.

     100        13,795  

Maxell Ltd.(a)

     2,000        23,127  

Meiko Electronics Co. Ltd.(a)

     600        13,173  

Nichicon Corp.(a)

     2,800        29,033  

Nippon Ceramic Co. Ltd.

     1,200        24,381  

Nippon Electric Glass Co. Ltd.

     7,400        141,728  

Nippon Signal Co. Ltd.(a)

     2,300        18,353  

Nissha Co. Ltd.

     1,200        16,762  

Nohmi Bosai Ltd.(a)

     1,666        21,168  

Oki Electric Industry Co. Ltd.(a)

     4,700        25,356  

Optex Group Co. Ltd.

     1,200        18,718  

Osaki Electric Co. Ltd.(a)

     4,100        16,389  

Restar Holdings Corp.(a)

     1,600        26,015  

Riken Keiki Co. Ltd.

     700        29,875  

Ryoden Corp.

     1,600        22,481  

Ryosan Co. Ltd.

     1,400        34,503  

Sanshin Electronics Co. Ltd.(a)

     1,000        18,093  

Satori Electric Co. Ltd.

     1,700        21,970  

Shibaura Electronics Co. Ltd.

     300        13,254  

Siix Corp.

     1,600        16,951  

Suzuden Corp.

     1,000        19,663  

Tachibana Eletech Co. Ltd.

     1,200      17,934  

Tokyo Electron Device Ltd.(a)

     400        26,358  

Tomen Devices Corp.(a)

     500        24,645  

Topcon Corp.

     3,500        46,863  

Tsuzuki Denki Co. Ltd.(a)

     1,300        15,267  

Yokowo Co. Ltd.(a)

     700        10,993  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     1,721,853  
Energy Equipment & Services – 0.1%

 

Toyo Kanetsu KK

     800        15,761  
Entertainment – 0.9%

 

Amuse, Inc.

     1,200        16,031  

COLOPL, Inc.(a)

     4,800        21,568  

Daiichikosho Co. Ltd.(a)

     3,400        55,794  

GungHo Online Entertainment, Inc.

     1,500        27,297  

Marvelous, Inc.

     3,400        16,861  

MIXI, Inc.

     4,100        82,006  
     

 

 

 
Total Entertainment

 

     219,557  
Financial Services – 0.3%

 

eGuarantee, Inc.

     700        11,440  

Financial Partners Group Co. Ltd.

     6,200        53,806  

Japan Investment Adviser Co. Ltd.

     1,600        12,731  
     

 

 

 
Total Financial Services

 

     77,977  
Food Products – 3.5%

 

Ariake Japan Co. Ltd.(a)

     700        25,667  

Chubu Shiryo Co. Ltd.(a)

     1,900        14,904  

DyDo Group Holdings, Inc.(a)

     400        14,637  

Ezaki Glico Co. Ltd.

     1,600        40,093  

Feed One Co. Ltd.

     2,500        12,698  

Fuji Oil Holdings, Inc.(a)

     2,151        31,080  

Fujicco Co. Ltd.

     700        9,751  

Fujiya Co. Ltd.

     600        11,131  

Hokuto Corp.

     1,000        13,938  

House Foods Group, Inc.

     2,100        44,338  

Itoham Yonekyu Holdings, Inc.(a)

     10,400        54,700  

Kagome Co. Ltd.

     1,400        32,504  

Kameda Seika Co. Ltd.(a)

     300        9,907  

Kotobuki Spirits Co. Ltd.

     200        14,081  

Kyokuyo Co. Ltd.(a)

     500        12,867  

Marudai Food Co. Ltd.(a)

     1,300        14,202  

Maruha Nichiro Corp.

     2,000        35,690  

Megmilk Snow Brand Co. Ltd.

     2,800        37,091  

Mitsui DM Sugar Holdings Co. Ltd.(a)

     1,100        16,819  

Morinaga & Co. Ltd.

     2,000        56,428  

Morinaga Milk Industry Co. Ltd.(a)

     1,100        39,424  

Nichirei Corp.

     3,300        66,551  

Nippn Corp.

     3,000        37,418  

Nisshin Oillio Group Ltd.

     1,000        24,420  

Nissui Corp.(a)

     9,900        40,392  

Prima Meat Packers Ltd.(a)

     1,600        26,460  

Riken Vitamin Co. Ltd.

     1,400        20,228  

S Foods, Inc.

     1,400        29,969  

Sakata Seed Corp.

     800        23,503  

 

See Notes to Financial Statements.

 

40   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Showa Sangyo Co. Ltd.(a)

     800      $ 15,250  

Warabeya Nichiyo Holdings Co. Ltd.(a)

     800        10,880  

Yukiguni Maitake Co. Ltd.

     2,000        15,058  
     

 

 

 
Total Food Products

 

     852,079  
Gas Utilities – 0.7%

 

Hokkaido Gas Co. Ltd.

     900        13,139  

Nippon Gas Co. Ltd.

     5,400        78,065  

Saibu Gas Holdings Co. Ltd.

     1,500        19,554  

Shizuoka Gas Co. Ltd.

     1,500        12,950  

Toho Gas Co. Ltd.

     2,500        46,266  
     

 

 

 
Total Gas Utilities

 

     169,974  
Ground Transportation – 1.0%

 

Alps Logistics Co. Ltd.(a)

     1,400        13,749  

Fukuyama Transporting Co. Ltd.

     900        24,277  

Ichinen Holdings Co. Ltd.(a)

     1,800        17,109  

Maruzen Showa Unyu Co. Ltd.

     600        14,516  

Nikkon Holdings Co. Ltd.(a)

     2,400        44,631  

Nishi-Nippon Railroad Co. Ltd.(a)

     1,300        23,365  

Sakai Moving Service Co. Ltd.(a)

     600        20,873  

Seino Holdings Co. Ltd.(a)

     4,900        53,753  

Sotetsu Holdings, Inc.(a)

     1,400        23,857  
     

 

 

 
Total Ground Transportation

 

     236,130  
Health Care Equipment & Supplies – 1.7%

 

Eiken Chemical Co. Ltd.(a)

     2,000        23,488  

Hogy Medical Co. Ltd.(a)

     1,100        26,242  

Japan Lifeline Co. Ltd.

     3,300        22,712  

Jeol Ltd.

     700        22,327  

Mani, Inc.(a)

     1,600        21,712  

Menicon Co. Ltd.(a)

     700        14,764  

Mizuho Medy Co. Ltd.

     1,000        17,514  

Nagaileben Co. Ltd.

     1,200        18,393  

Nakanishi, Inc.

     2,300        45,399  

Nihon Kohden Corp.

     1,700        45,856  

Nipro Corp.(a)

     4,423        33,865  

Paramount Bed Holdings Co. Ltd.

     2,206        39,084  

PHC Holdings Corp.(a)

     7,100        76,393  

Shofu, Inc.

     500        7,623  
     

 

 

 
Total Health Care Equipment & Supplies

 

     415,372  
Health Care Providers & Services – 1.1%

 

As One Corp.

     800        33,722  

BML, Inc.

     1,500        34,770  

France Bed Holdings Co. Ltd.

     2,200        17,489  

H.U. Group Holdings, Inc.

     4,400        88,139  

Ship Healthcare Holdings, Inc.

     1,418        25,965  

Solasto Corp.

     2,000        9,527  

Toho Holdings Co. Ltd.(a)

     1,300        22,954  

Tokai Corp.

     800        11,896  

Vital KSK Holdings, Inc.

     2,500        16,793  
     

 

 

 
Total Health Care Providers & Services

 

     261,255  
Health Care Technology – 0.0%

 

EM Systems Co. Ltd.

     1,600        10,134  
Hotels, Restaurants & Leisure – 1.8%

 

Arcland Service Holdings Co. Ltd.(a)

     1,000      16,868  

Create Restaurants Holdings, Inc.(a)

     2,500        18,972  

Doutor Nichires Holdings Co. Ltd.

     1,300        18,490  

Food & Life Cos. Ltd.

     1,300        33,601  

Heiwa Corp.

     3,700        73,088  

Hiday Hidaka Corp.(a)

     922        14,874  

Ichibanya Co. Ltd.(a)

     900        34,082  

KFC Holdings Japan Ltd.(a)

     800        17,005  

KOMEDA Holdings Co. Ltd.

     1,600        28,288  

Kyoritsu Maintenance Co. Ltd.(a)

     300        12,060  

MOS Food Services, Inc.(a)

     600        13,547  

Ohsho Food Service Corp.

     700        31,663  

Resorttrust, Inc.

     2,800        44,370  

Round One Corp.(a)

     6,000        23,037  

Saizeriya Co. Ltd.

     500        12,379  

St. Marc Holdings Co. Ltd.

     1,300        16,928  

Tokyotokeiba Co. Ltd.

     800        24,314  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     433,566  
Household Durables – 2.0%

 

Casio Computer Co. Ltd.

     10,000        97,528  

Cleanup Corp.

     2,600        13,499  

ES-Con Japan Ltd.

     5,400        35,259  

Fuji Corp. Ltd.(a)

     2,100        10,714  

Hoosiers Holdings Co. Ltd.

     2,700        16,757  

JVCKenwood Corp.(a)

     5,100        14,600  

Ki-Star Real Estate Co. Ltd.(a)

     1,100        34,259  

Pressance Corp.

     1,917        25,682  

Sanei Architecture Planning Co. Ltd.

     1,800        21,247  

Sangetsu Corp.

     4,400        73,857  

Tama Home Co. Ltd.(a)

     1,800        49,500  

Tamron Co. Ltd.

     1,200        28,357  

Toa Corp.

     2,300        14,257  

Token Corp.

     500        29,829  

Zojirushi Corp.(a)

     2,100        25,167  
     

 

 

 
Total Household Durables

 

     490,512  
Household Products – 0.5%

 

Earth Corp.

     500        17,789  

Pigeon Corp.

     5,400        83,136  

ST Corp.(a)

     1,500        17,616  
     

 

 

 
Total Household Products

 

     118,541  
Independent Power & Renewable Electricity Producers – 0.1%

 

eRex Co. Ltd.(a)

     600        8,255  

West Holdings Corp.(a)

     700        17,041  
     

 

 

 
Total Independent Power & Renewable Electricity Producers

 

     25,296  
Industrial Conglomerates – 0.5%

 

Mie Kotsu Group Holdings, Inc.(a)

     3,800        15,961  

Nisshinbo Holdings, Inc.

     7,600        57,789  

Noritsu Koki Co. Ltd.

     600        10,094  

TOKAI Holdings Corp.(a)

     7,000        45,916  
     

 

 

 
Total Industrial Conglomerates

 

     129,760  

 

See Notes to Financial Statements.

 

WisdomTree Trust      41  


Schedule of Investments (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

March 31, 2023

 

 

 

Investments    Shares      Value  
Interactive Media & Services – 0.1%

 

Infocom Corp.(a)

     1,400      $ 24,615  
IT Services – 2.0%

 

Comture Corp.

     700        10,903  

Digital Garage, Inc.(a)

     600        19,633  

DTS Corp.

     2,100        50,808  

Future Corp.

     3,000        41,002  

I-Net Corp.(a)

     1,600        15,316  

Ines Corp.

     1,200        12,371  

Information Services International-Dentsu Ltd.

     1,900        74,236  

JBCC Holdings, Inc.

     1,000        16,297  

Mitsubishi Research Institute, Inc.(a)

     500        19,160  

NEC Networks & System Integration Corp.

     4,600        55,820  

NET One Systems Co. Ltd.

     2,400        57,074  

NSD Co. Ltd.

     3,800        68,068  

SB Technology Corp.(a)

     600        8,949  

Simplex Holdings, Inc.

     900        16,473  

TDC Soft, Inc.(a)

     1,100        12,290  

Uchida Yoko Co. Ltd.

     400        14,772  
     

 

 

 
Total IT Services

 

     493,172  
Leisure Products – 1.0%

 

Furyu Corp.

     1,100        9,885  

GLOBERIDE, Inc.(a)

     800        14,865  

Mizuno Corp.(a)

     1,200        27,996  

Roland Corp.

     1,100        32,936  

Sankyo Co. Ltd.

     2,500        103,877  

Tomy Co. Ltd.

     3,400        37,835  

Yonex Co. Ltd.

     1,000        10,775  
     

 

 

 
Total Leisure Products

 

     238,169  
Life Sciences Tools & Services – 0.1%

 

Shin Nippon Biomedical Laboratories Ltd.

     1,100        22,729  
Machinery – 5.9%

 

Aichi Corp.

     2,300        13,756  

Aida Engineering Ltd.

     2,400        14,733  

Anest Iwata Corp.

     2,700        20,348  

Asahi Diamond Industrial Co. Ltd.(a)

     2,900        20,395  

Bando Chemical Industries Ltd.

     3,200        25,438  

CKD Corp.

     3,000        48,463  

DMG Mori Co. Ltd.

     4,900        82,029  

Fujitec Co. Ltd.(a)

     2,000        49,365  

Furukawa Co. Ltd.(a)

     1,400        13,433  

Giken Ltd.(a)

     700        14,595  

Glory Ltd.(a)

     1,800        39,154  

Hitachi Zosen Corp.

     2,535        16,495  

Hokuetsu Industries Co. Ltd.

     1,600        16,807  

Hosokawa Micron Corp.

     700        15,253  

Japan Steel Works Ltd.(a)

     1,503        27,996  

Kitz Corp.

     5,000        34,864  

Kyokuto Kaihatsu Kogyo Co. Ltd.(a)

     1,800        21,856  

Makino Milling Machine Co. Ltd.

     700        25,535  

Max Co. Ltd.

     2,300        36,637  

Meidensha Corp.(a)

     1,300        18,764  

METAWATER Co. Ltd.(a)

     1,500      19,464  

Mitsuboshi Belting Ltd.

     3,400        100,526  

Morita Holdings Corp.

     1,300        12,991  

Nachi-Fujikoshi Corp.(a)

     1,000        29,679  

Nikkiso Co. Ltd.

     1,800        12,713  

Nikko Co. Ltd.

     2,400        11,433  

Nippon Thompson Co. Ltd.

     3,300        14,406  

Nissei ASB Machine Co. Ltd.(a)

     400        11,782  

Nitta Corp.(a)

     1,800        39,641  

Nitto Kohki Co. Ltd.

     1,200        16,320  

Noritake Co. Ltd.

     800        27,590  

NTN Corp.(a)

     5,800        14,686  

Obara Group, Inc.

     600        17,830  

Oiles Corp.(a)

     1,700        21,459  

OKUMA Corp.(a)

     800        35,525  

Organo Corp.(a)

     1,200        32,504  

OSG Corp.

     3,400        50,787  

Ryobi Ltd.

     1,300        15,033  

Shibaura Machine Co. Ltd.

     800        18,935  

Shibuya Corp.

     800        15,009  

Shinmaywa Industries Ltd.(a)

     2,700        23,939  

Shinwa Co. Ltd.

     1,000        15,884  

Sodick Co. Ltd.

     2,700        15,418  

Star Micronics Co. Ltd.

     2,300        31,159  

Takeuchi Manufacturing Co. Ltd.

     1,600        35,248  

Takuma Co. Ltd.

     2,800        27,918  

Teikoku Electric Manufacturing Co. Ltd.

     1,000        18,424  

Tocalo Co. Ltd.

     3,900        37,977  

Torishima Pump Manufacturing Co. Ltd.

     1,600        18,862  

Tsubakimoto Chain Co.

     2,200        53,145  

Tsugami Corp.

     2,200        23,704  

Union Tool Co.

     700        17,330  

YAMABIKO Corp.

     2,700        26,698  
     

 

 

 
Total Machinery

 

     1,419,935  
Marine Transportation – 0.6%

 

Iino Kaiun Kaisha Ltd.

     9,300        70,157  

NS United Kaiun Kaisha Ltd.(a)

     2,100        64,930  
     

 

 

 
Total Marine Transportation

 

     135,087  
Media – 0.8%

 

Carta Holdings, Inc.

     900        9,704  

Digital Holdings, Inc.

     2,300        19,822  

FAN Communications, Inc.

     4,400        13,356  

Gakken Holdings Co. Ltd.

     1,600        10,231  

Intage Holdings, Inc.

     1,700        19,799  

Macromill, Inc.

     1,400        9,856  

Proto Corp.

     1,700        15,085  

SKY Perfect JSAT Holdings, Inc.

     16,500        64,096  

ValueCommerce Co. Ltd.

     1,000        12,773  

Wowow, Inc.

     1,100        10,356  

Zenrin Co. Ltd.(a)

     2,100        13,160  
     

 

 

 
Total Media

 

     198,238  
Metals & Mining – 4.9%

 

Asahi Holdings, Inc.(a)

     4,100        62,290  

 

See Notes to Financial Statements.

 

42   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Daido Steel Co. Ltd.

     2,300      $ 89,864  

Daiki Aluminium Industry Co. Ltd.(a)

     2,500        26,824  

Dowa Holdings Co. Ltd.(a)

     2,100        66,981  

Hakudo Co. Ltd.(a)

     900        17,697  

Kobe Steel Ltd.

     33,000        261,094  

Kyoei Steel Ltd.(a)

     1,500        18,123  

Maruichi Steel Tube Ltd.

     4,400        96,206  

Mitsubishi Materials Corp.

     4,500        72,932  

Mitsui Mining & Smelting Co. Ltd.(a)

     3,300        79,717  

Nakayama Steel Works Ltd.(a)

     3,300        24,126  

Neturen Co. Ltd.

     3,900        20,366  

Nippon Denko Co. Ltd.(a)

     11,300        30,311  

Nippon Light Metal Holdings Co. Ltd.(a)

     4,000        43,940  

Nippon Yakin Kogyo Co. Ltd.(a)

     1,000        31,971  

Nittetsu Mining Co. Ltd.(a)

     900        24,209  

Sanyo Special Steel Co. Ltd.(a)

     3,000        55,271  

Toho Titanium Co. Ltd.(a)

     1,200        19,881  

Toho Zinc Co. Ltd.(a)

     500        7,645  

Tokyo Steel Manufacturing Co. Ltd.(a)

     6,200        63,635  

Topy Industries Ltd.

     1,300        19,301  

UACJ Corp.(a)

     2,200        43,557  
     

 

 

 
Total Metals & Mining

 

     1,175,941  
Oil, Gas & Consumable Fuels – 1.4%

 

Cosmo Energy Holdings Co. Ltd.

     6,500        209,276  

Fuji Oil Co. Ltd.(a)

     5,100        10,155  

Itochu Enex Co. Ltd.

     5,100        43,263  

Nippon Coke & Engineering Co. Ltd.(a)

     29,300        19,153  

Sala Corp.(a)

     3,600        20,368  

San-Ai Obbli Co. Ltd.

     2,600        26,783  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     328,998  
Paper & Forest Products – 0.5%

 

Daiken Corp.

     1,800        30,836  

Daio Paper Corp.(a)

     4,400        34,184  

Hokuetsu Corp.(a)

     4,400        29,325  

Tokushu Tokai Paper Co. Ltd.(a)

     800        17,672  
     

 

 

 
Total Paper & Forest Products

 

     112,017  
Personal Care Products – 0.5%

 

Mandom Corp.(a)

     1,600        17,756  

Milbon Co. Ltd.

     500        20,475  

Noevir Holdings Co. Ltd.

     2,100        85,206  
     

 

 

 
Total Personal Care Products

 

     123,437  
Pharmaceuticals – 1.6%

 

Fuji Pharma Co. Ltd.

     1,700        14,472  

Hisamitsu Pharmaceutical Co., Inc.

     2,300        65,324  

JCR Pharmaceuticals Co. Ltd.(a)

     1,700        18,049  

Kaken Pharmaceutical Co. Ltd.

     1,900        52,750  

KYORIN Holdings, Inc.

     2,900        37,130  

Mochida Pharmaceutical Co. Ltd.(a)

     1,700        42,663  

Sawai Group Holdings Co. Ltd.

     1,400        38,395  

Seikagaku Corp.(a)

     2,200        13,439  

Torii Pharmaceutical Co. Ltd.

     600        14,336  

Towa Pharmaceutical Co. Ltd.(a)

     1,600        22,782  

Tsumura & Co.

     2,600      51,379  

ZERIA Pharmaceutical Co. Ltd.(a)

     1,500        25,302  
     

 

 

 
Total Pharmaceuticals

 

     396,021  
Professional Services – 2.9%

 

Altech Corp.

     1,250        23,706  

Bell System24 Holdings, Inc.

     5,100        55,334  

Dip Corp.(a)

     1,000        26,561  

en Japan, Inc.(a)

     1,300        22,261  

Forum Engineering, Inc.

     2,000        12,668  

FULLCAST Holdings Co. Ltd.

     1,100        19,944  

Funai Soken Holdings, Inc.

     1,540        31,358  

IR Japan Holdings Ltd.(a)

     1,000        17,590  

JAC Recruitment Co. Ltd.

     1,800        35,232  

LIKE, Inc.(a)

     800        12,286  

Meitec Corp.

     3,900        69,273  

Nomura Co. Ltd.

     3,000        20,377  

Open Up Group, Inc.

     2,400        34,605  

Pasona Group, Inc.

     800        11,265  

Quick Co. Ltd.(a)

     900        12,023  

Relia, Inc.

     3,100        33,937  

Space Co. Ltd.

     2,300        15,899  

Tanseisha Co. Ltd.

     1,900        10,993  

TechnoPro Holdings, Inc.

     2,200        60,253  

TKC Corp.(a)

     1,200        33,090  

Transcosmos, Inc.

     3,500        82,444  

Weathernews, Inc.

     300        14,922  

Will Group, Inc.(a)

     1,300        10,559  

World Holdings Co. Ltd.(a)

     700        13,496  

YAMADA Consulting Group Co. Ltd.(a)

     1,200        13,804  
     

 

 

 
Total Professional Services

 

     693,880  
Real Estate Management & Development – 1.9%

 

Arealink Co. Ltd.

     800        14,144  

Dear Life Co. Ltd.

     4,400        22,084  

Goldcrest Co. Ltd.(a)

     2,100        26,950  

Good Com Asset Co. Ltd.

     1,900        12,049  

Grandy House Corp.(a)

     3,800        15,675  

Heiwa Real Estate Co. Ltd.

     1,700        48,347  

Ichigo, Inc.

     12,600        26,224  

Japan Property Management Center Co. Ltd.

     2,300        18,267  

JINUSHI Co. Ltd.

     1,200        17,276  

Katitas Co. Ltd.

     1,300        25,191  

Keihanshin Building Co. Ltd.

     1,800        16,175  

Loadstar Capital KK

     900        9,508  

Mirarth Holdings, Inc.(a)

     9,500        26,910  

Nisshin Group Holdings Co. Ltd.(a)

     5,700        19,487  

SAMTY Co. Ltd.(a)

     2,300        38,037  

Star Mica Holdings Co. Ltd.

     2,200        11,505  

Starts Corp., Inc.

     2,800        53,501  

Sun Frontier Fudousan Co. Ltd.

     3,200        30,800  

Tosei Corp.

     2,000        22,120  
     

 

 

 
Total Real Estate Management & Development

 

     454,250  

 

See Notes to Financial Statements.

 

WisdomTree Trust      43  


Schedule of Investments (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

March 31, 2023

 

 

 

Investments    Shares      Value  
Semiconductors & Semiconductor Equipment – 1.8%

 

Ferrotec Holdings Corp.

     1,100      $ 27,440  

Furuya Metal Co. Ltd.(a)

     200        13,660  

Japan Material Co. Ltd.(a)

     1,200        21,261  

MegaChips Corp.

     500        12,285  

Micronics Japan Co. Ltd.

     2,200        22,035  

Mimasu Semiconductor Industry Co. Ltd.

     900        19,888  

Mitsui High-Tec, Inc.

     500        31,407  

Optorun Co. Ltd.

     1,000        16,635  

Rorze Corp.

     100        8,746  

Shibaura Mechatronics Corp.

     200        24,194  

Shindengen Electric Manufacturing Co. Ltd.(a)

     400        10,053  

Tokyo Seimitsu Co. Ltd.

     3,300        126,952  

Towa Corp.(a)

     800        12,587  

Ulvac, Inc.

     1,200        51,845  

Yamaichi Electronics Co. Ltd.(a)

     2,400        35,471  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     434,459  
Software – 0.8%

 

Computer Engineering & Consulting Ltd.

     1,700        16,324  

Cresco Ltd.(a)

     1,200        15,310  

Cybernet Systems Co. Ltd.

     1,100        7,331  

Fuji Soft, Inc.(a)

     800        46,104  

Justsystems Corp.(a)

     500        13,206  

Miroku Jyoho Service Co. Ltd.

     1,700        20,999  

SRA Holdings

     800        17,540  

Systena Corp.(a)

     9,200        20,047  

UNITED, Inc.

     1,300        12,503  

WingArc1st, Inc.(a)

     1,200        17,609  
     

 

 

 
Total Software

 

     186,973  
Specialty Retail – 3.7%

 

Adastria Co. Ltd.

     1,622        29,773  

Alpen Co. Ltd.(a)

     1,100        16,464  

AOKI Holdings, Inc.

     2,200        14,084  

Aoyama Trading Co. Ltd.

     1,400        9,867  

Arclands Corp.

     1,300        14,583  

Autobacs Seven Co. Ltd.

     5,300        57,544  

Bic Camera, Inc.

     2,900        24,252  

DCM Holdings Co. Ltd.

     5,100        44,260  

EDION Corp.(a)

     6,600        63,575  

Honeys Holdings Co. Ltd.(a)

     1,800        22,465  

IDOM, Inc.

     3,200        20,558  

Joshin Denki Co. Ltd.(a)

     1,300        19,086  

Joyful Honda Co. Ltd.(a)

     2,700        34,752  

K’s Holdings Corp.

     13,900        121,464  

Keiyo Co. Ltd.

     2,000        12,653  

Kohnan Shoji Co. Ltd.(a)

     1,000        24,382  

Kojima Co. Ltd.

     2,200        9,257  

Komeri Co. Ltd.

     1,500        30,836  

Nafco Co. Ltd.

     900        11,929  

Nextage Co. Ltd.

     800        16,590  

Nishimatsuya Chain Co. Ltd.(a)

     1,600        19,644  

Nojima Corp.(a)

     2,500        26,279  

PAL GROUP Holdings Co. Ltd.

     2,000        46,360  

Sanrio Co. Ltd.

     700      31,189  

Scroll Corp.

     5,300        32,177  

T-Gaia Corp.(a)

     2,900        36,389  

VT Holdings Co. Ltd.

     9,454        36,015  

World Co. Ltd.(a)

     1,400        15,579  

Xebio Holdings Co. Ltd.

     2,800        22,069  

Yellow Hat Ltd.

     2,600        35,613  
     

 

 

 
Total Specialty Retail

 

     899,688  
Technology Hardware, Storage & Peripherals – 1.3%

 

Eizo Corp.

     800        24,615  

Elecom Co. Ltd.

     2,800        26,403  

Konica Minolta, Inc.(a)

     31,400        134,244  

MCJ Co. Ltd.

     3,900        27,282  

Riso Kagaku Corp.(a)

     1,100        19,068  

Roland DG Corp.(a)

     900        22,383  

Toshiba TEC Corp.(a)

     700        20,565  

Wacom Co. Ltd.(a)

     6,200        32,144  
     

 

 

 
Total Technology Hardware, Storage & Peripherals

 

     306,704  
Textiles, Apparel & Luxury Goods – 1.1%

 

Baroque Japan Ltd.(a)

     2,700        16,635  

Descente Ltd.

     600        18,664  

Fujibo Holdings, Inc.

     700        17,383  

Gunze Ltd.

     700        23,589  

Japan Wool Textile Co. Ltd.

     2,800        20,765  

Kurabo Industries Ltd.

     1,700        32,151  

Morito Co. Ltd.

     2,100        16,126  

Onward Holdings Co. Ltd.

     11,739        33,782  

Seiko Group Corp.

     1,300        28,278  

Wacoal Holdings Corp.(a)

     2,000        37,373  

Yondoshi Holdings, Inc.

     1,400        18,777  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     263,523  
Trading Companies & Distributors – 3.5%

 

Advan Group Co. Ltd.

     1,500        10,876  

Alconix Corp.(a)

     1,300        13,294  

Chori Co. Ltd.

     1,400        26,382  

Daiichi Jitsugyo Co. Ltd.

     400        16,741  

Hanwa Co. Ltd.

     1,100        32,606  

Inaba Denki Sangyo Co. Ltd.

     3,000        65,144  

Inabata & Co. Ltd.

     3,000        60,568  

JK Holdings Co. Ltd.(a)

     1,700        13,169  

Kamei Corp.

     1,900        21,000  

Kanaden Corp.(a)

     1,500        13,096  

Kanamoto Co. Ltd.

     1,400        22,921  

Kanematsu Corp.

     3,900        48,116  

KPP Group Holdings Co. Ltd.(a)

     2,300        11,579  

MARUKA FURUSATO Corp.

     700        14,727  

Mitsui Matsushima Holdings Co. Ltd.(a)

     1,000        24,683  

Nagase & Co. Ltd.

     3,200        48,929  

Nichiden Corp.

     900        12,869  

Nippon Steel Trading Corp.

     2,196        153,286  

Nishio Rent All Co. Ltd.(a)

     1,300        30,329  

Onoken Co. Ltd.(a)

     1,900        21,214  

Seika Corp.

     1,000        15,433  

 

See Notes to Financial Statements.

 

44   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Shinsho Corp.

     1,000      $ 43,580  

Totech Corp.(a)

     1,000        32,872  

Trusco Nakayama Corp.

     1,100        18,539  

Wakita & Co. Ltd.

     1,900        17,374  

Yamazen Corp.

     3,900        29,802  

Yuasa Trading Co. Ltd.

     1,200        34,127  
     

 

 

 
Total Trading Companies & Distributors

 

     853,256  
Transportation Infrastructure – 0.4%

 

Mitsubishi Logistics Corp.(a)

     2,800        65,429  

Nissin Corp.(a)

     1,200        19,070  
     

 

 

 
Total Transportation Infrastructure

 

     84,499  
Wireless Telecommunication Services – 0.2%

 

Okinawa Cellular Telephone Co.

     2,500        56,916  

TOTAL COMMON STOCKS

(Cost: $24,393,267)

 

 

     24,110,389  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 15.8%

 

United States – 15.8%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 4.84%(b)

     
(Cost: $3,813,426)      3,813,426        3,813,426  

TOTAL INVESTMENTS IN SECURITIES – 115.7%

(Cost: $28,206,693)

 

 

     27,923,815  

Other Assets less Liabilities – (15.7)%

 

     (3,799,034
     

 

 

 
NET ASSETS – 100.0%

 

   $ 24,124,781  

 

* 

Non-income producing security.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $6,991,103 and the total market value of the collateral held by the Fund was $7,410,286. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $3,596,860.

 

(b) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
   

Amount and
Description of
Currency to
be Purchased

   

Amount and
Description of
Currency to
be Sold

     Unrealized
Appreciation
     Unrealized
Depreciation
 

Citibank NA

    4/4/2023       9,016       USD       1,200,000       JPY      $      $ (0 )^ 

Citibank NA

    4/5/2023       32,997,027       JPY       251,191       USD               (3,226

Citibank NA

    4/5/2023       6,038,482       USD       818,630,362       JPY               (113,346

Goldman Sachs

    4/5/2023       795,203,989       JPY       5,975,684       USD        100         

Goldman Sachs

    4/5/2023       6,038,482       USD       818,629,758       JPY               (113,342

Goldman Sachs

    5/8/2023       5,981,802       USD       792,252,587       JPY               (185

JP Morgan Chase Bank NA

    4/5/2023       795,199,806       JPY       5,975,684       USD        69         

JP Morgan Chase Bank NA

    4/5/2023       6,038,482       USD       818,632,173       JPY               (113,360

JP Morgan Chase Bank NA

    5/8/2023       5,981,802       USD       792,244,213       JPY               (122

Royal Bank of Canada

    4/5/2023       795,198,199       JPY       5,975,684       USD        57         

Royal Bank of Canada

    4/5/2023       6,038,481       USD       818,639,055       JPY               (113,413

Royal Bank of Canada

    5/8/2023       5,981,802       USD       792,242,604       JPY               (110

Standard Chartered Bank

    4/5/2023       795,202,196       JPY       5,975,684       USD        87         

Standard Chartered Bank

    5/8/2023       5,981,802       USD       792,247,802       JPY               (149
                                             $ 313      $ (457,253
^

Amount represents less than $1.

 

See Notes to Financial Statements.

 

WisdomTree Trust      45  


Schedule of Investments (concluded)

WisdomTree Japan Hedged SmallCap Equity Fund (DXJS)

March 31, 2023

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 – Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
    Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

    

Investments in Securities

 

    

Common Stocks

          

Commercial Services & Supplies

   $ 341,559      $ 26,305     $      $ 367,864  

Other

     23,742,525                     23,742,525  

Investment of Cash Collateral for Securities Loaned

            3,813,426              3,813,426  

Total Investments in Securities

   $ 24,084,084      $ 3,839,731     $      $ 27,923,815  

Financial Derivative Instruments

 

    

Foreign Currency Contracts1

   $      $ 313     $      $ 313  

Liabilities:

 

    

Financial Derivative Instruments

 

    

Foreign Currency Contracts1

   $      $ (457,253   $      $ (457,253

Total – Net

   $ 24,084,084      $ 3,382,791     $      $ 27,466,875  
1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

46   WisdomTree Trust


Statements of Assets and Liabilities

WisdomTree Trust

March 31, 2023

 

 

 

     WisdomTree
Europe
Hedged
Equity Fund
    WisdomTree
Europe
Hedged
SmallCap
Equity Fund
    WisdomTree
Germany
Hedged
Equity Fund
   

WisdomTree
International
Hedged

Quality

Dividend
Growth Fund

    WisdomTree
Japan Hedged
Equity Fund
    WisdomTree
Japan Hedged
SmallCap
Equity Fund
 

ASSETS:

           

Investments, at cost

  $ 1,276,373,359     $ 53,996,942     $ 19,199,957     $ 1,182,505,725     $ 1,614,990,881     $ 28,206,693  

Investment in affiliates, at cost (Note 3)

                      868,179              

Foreign currency, at cost

    706,288       69,696       15,214       777,918       2,627,397       49,228  

Investments in securities, at value1,2(Note 2)

    1,505,604,634       54,073,270       21,804,550       1,444,300,724       1,607,911,423       27,923,815  

Investment in affiliates, at value (Note 3)

                      1,023,619              

Cash

    1,773,076       1,796       7,223       1,877,525       70,740       4,445  

Foreign currency, at value

    708,465       70,009       15,591       779,304       2,619,746       49,038  

Unrealized appreciation on foreign currency contracts

    13,313       491       207       855,522       1,449,110       313  

Receivables:

 

Investment securities sold3

    30,308,134       1,191,259       246,686       15,849,920       6,898,245       68,043  

Capital shares sold

    62                   5,876,191              

Dividends

    1,155,104       117,301             2,737,114       22,032,446       351,053  

Securities lending income

    167,974       4,871       4,041       16,538       41,570       1,435  

Foreign tax reclaims

    5,713,050       90,888       253,549       4,333,850       3,224,815       9,213  

Other (Note 6)

    512,445       36,038             156,450              

Total Assets

    1,545,956,257       55,585,923       22,331,847       1,477,806,757       1,644,248,095       28,407,355  

LIABILITIES:

 

Unrealized depreciation on foreign currency contracts

    30,839,660       1,226,568       480,640       24,509,666       30,521,289       457,253  

Payables:

           

Cash collateral received for securities loaned (Note 2)

    107,373,045       5,360,042             50,060,969       82,913,897       3,813,426  

Investment securities purchased

                      5,949,245              

Advisory fees (Note 3)

    670,617       21,687       8,680       649,365       625,264       11,805  

Service fees (Note 2)

    5,087       165       79       4,928       5,732       90  

Other (Note 6)

    4,472,190       10,811             46,935              

Total Liabilities

    143,360,599       6,619,273       489,399       81,221,108       114,066,182       4,282,574  

NET ASSETS

  $ 1,402,595,658     $ 48,966,650     $ 21,842,448     $ 1,396,585,649     $ 1,530,181,913     $ 24,124,781  

NET ASSETS:

           

Paid-in capital

  $ 3,239,430,061     $ 70,703,159     $ 53,110,736     $ 1,410,276,859     $ 3,188,867,707     $ 47,328,431  

Total distributable earnings (loss)

    (1,836,834,403     (21,736,509     (31,268,288     (13,691,210     (1,658,685,794     (23,203,650

NET ASSETS

  $ 1,402,595,658     $ 48,966,650     $ 21,842,448     $ 1,396,585,649     $ 1,530,181,913     $ 24,124,781  

Outstanding beneficial interest shares of $0.001 par value (unlimited number of shares authorized)

    17,100,000       1,450,000       600,000       35,650,000       21,700,000       500,000  

Net asset value per share

  $ 82.02     $ 33.77     $ 36.40     $ 39.17     $ 70.52     $ 48.25  

1 Includes market value of securities out on loan of:

  $ 115,886,867     $ 5,609,582           $ 65,258,992     $ 182,407,130     $ 6,991,103  

2 Investments in securities include investment of cash collateral for securities loaned (see Schedule of Investments for additional information).

  

 

3 Includes market value of securities out on loan, which were sold and pending settlement, of:

  $ 116,050     $ 9,254           $ 112,083     $ 180,363        

 

See Notes to Financial Statements.

 

WisdomTree Trust      47  


Statements of Operations

WisdomTree Trust

For the Year Ended March 31, 2023

 

 

 

     WisdomTree
Europe
Hedged
Equity Fund
    WisdomTree
Europe
Hedged
SmallCap
Equity Fund
    WisdomTree
Germany
Hedged
Equity Fund
    WisdomTree
International
Hedged
Quality
Dividend
Growth Fund
    WisdomTree
Japan Hedged
Equity Fund
    WisdomTree
Japan Hedged
SmallCap
Equity Fund
 

INVESTMENT INCOME:

 

Dividends

  $ 49,909,162     $ 2,787,310     $ 1,101,236     $ 43,150,611     $ 70,321,250     $ 828,615  

Dividends from affiliates (Note 3)

                      34,597              

Non-cash dividends

    2,082,182       122,736             7,369,628              

Other income (Note 6)

    10,458,607       16,603             357,562              

Securities lending income, net (Note 2)

    1,125,492       49,703       21,121       384,921       313,629       8,683  

Less:

 

Foreign withholding taxes on dividends

    (6,829,447     (356,372     (156,963     (3,816,583     (7,046,711     (107,779

IRS closing agreement fee (Note 6)

    (4,318,457                              

Total investment income

    52,427,539       2,619,980       965,394       47,480,736       63,588,168       729,519  

EXPENSES:

 

Advisory fees (Note 3)

    8,131,325       256,217       111,527       6,992,905       8,947,378       136,444  

Service fees (Note 2)

    61,686       1,943       1,022       53,050       82,018       1,035  

Other fees (Note 6)

    2,837,063       4,567             94,560              

Total expenses

    11,030,074       262,727       112,549       7,140,515       9,029,396       137,479  

Expense waivers (Note 3)

                      (2,931            

Net expenses

    11,030,074       262,727       112,549       7,137,584       9,029,396       137,479  

Net investment income

    41,397,465       2,357,253       852,845       40,343,152       54,558,772       592,040  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

 

Net realized gain (loss) from:

 

Investment transactions

    (151,967,805     (8,329,847     (3,147,783     (237,393,550     (256,858,233     (4,279,790

Investment transactions in affiliates (Note 3)

                      795              

In-kind redemptions

    62,000,590       (2,266,813     1,022,133       6,060,632       114,595,785       (172,095

Foreign currency contracts

    151,918,839       5,780,468       2,067,908       108,038,226       336,288,156       4,847,030  

Foreign currency related transactions

    (478,536     8,388       2,002       647,620       1,421,815       748  

Net realized gain (loss)

    61,473,088       (4,807,804     (55,740     (122,646,277     195,447,523       395,893  

Net increase (decrease) in unrealized appreciation/depreciation:

 

Investment transactions

    85,308,453       1,710,518       2,418,919       168,197,697       98,528,132       4,735,080  

Investment transactions in affiliates (Note 3)

                      (82,975            

Foreign currency contracts

    (53,280,533     (1,866,188     (805,892     (35,512,967     (127,790,176     (1,967,689

Translation of assets and liabilities denominated in foreign currencies

    (79,597     1,384       55       14,805       (181,024     (1,168

Net increase (decrease) in unrealized appreciation/depreciation

    31,948,323       (154,286     1,613,082       132,616,560       (29,443,068     2,766,223  

Net realized and unrealized gain (loss) on investments

    93,421,411       (4,962,090     1,557,342       9,970,283       166,004,455       3,162,116  

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS

  $ 134,818,876     $ (2,604,837   $ 2,410,187     $ 50,313,435     $ 220,563,227     $ 3,754,156  

 

See Notes to Financial Statements.

 

48   WisdomTree Trust


Statements of Changes in Net Assets

WisdomTree Trust

 

 

 

 

     WisdomTree Europe
Hedged Equity Fund
    WisdomTree Europe Hedged
SmallCap Equity Fund
    WisdomTree Germany
Hedged Equity Fund
 
     For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

Net investment income

  $ 41,397,465     $ 36,673,929     $ 2,357,253     $ 1,075,519     $ 852,845     $ 896,799  

Net realized gain (loss) on investments, foreign currency contracts and foreign currency related transactions

    61,473,088       240,865,392       (4,807,804     7,708,188       (55,740     3,376,676  

Net increase (decrease) in unrealized appreciation/depreciation on investments, foreign currency contracts and translation of assets and liabilities denominated in foreign currencies

    31,948,323       (200,887,973     (154,286     (7,410,758     1,613,082       (4,164,626

Net increase (decrease) in net assets resulting from operations

    134,818,876       76,651,348       (2,604,837     1,372,949       2,410,187       108,849  

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

    (40,224,525     (44,246,812     (2,393,909     (1,117,302     (889,504     (1,209,360

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

    23,922,673       55,365,070       19,411,083       23,162,889              

Cost of shares redeemed

    (581,668,771     (159,690,153     (26,217,220           (5,033,589     (5,002,952

Net increase (decrease) in net assets resulting from capital share transactions

    (557,746,098     (104,325,083     (6,806,137     23,162,889       (5,033,589     (5,002,952

Net Increase (Decrease) in Net Assets

    (463,151,747     (71,920,547     (11,804,883     23,418,536       (3,512,906     (6,103,463

NET ASSETS:

 

Beginning of year

  $ 1,865,747,405     $ 1,937,667,952     $ 60,771,533     $ 37,352,997     $ 25,355,354     $ 31,458,817  

End of year

  $ 1,402,595,658     $ 1,865,747,405     $ 48,966,650     $ 60,771,533     $ 21,842,448     $ 25,355,354  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

    25,200,000       26,650,000       1,750,000       1,100,000       750,000       900,000  

Shares created

    300,000       700,000       550,000       650,000              

Shares redeemed

    (8,400,000     (2,150,000     (850,000           (150,000     (150,000

Shares outstanding, end of year

    17,100,000       25,200,000       1,450,000       1,750,000       600,000       750,000  

 

See Notes to Financial Statements.

 

WisdomTree Trust      49  


Statements of Changes in Net Assets (concluded)

WisdomTree Trust

 

 

 

 

     WisdomTree International Hedged
Quality Dividend Growth Fund
   

WisdomTree Japan Hedged

Equity Fund

   

WisdomTree Japan Hedged

SmallCap Equity Fund

 
     For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

Net investment income

  $ 40,343,152     $ 30,140,597     $ 54,558,772     $ 45,925,889     $ 592,040     $ 753,687  

Net realized gain (loss) on investments, foreign currency contracts and foreign currency related transactions

    (122,646,277     140,000,356       195,447,523       239,740,560       395,893       2,621,536  

Net increase (decrease) in unrealized appreciation/depreciation on investments, foreign currency contracts and translation of assets and liabilities denominated in foreign currencies

    132,616,560       (96,289,354     (29,443,068     (136,440,418     2,766,223       (4,589,705

Net increase from payment by affiliate

          13,616                          

Net increase (decrease) in net assets resulting from operations

    50,313,435       73,865,215       220,563,227       149,226,031       3,754,156       (1,214,482

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

    (152,589,770     (34,880,873     (70,598,895     (51,969,830     (888,720     (980,043

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

    351,881,143       480,736,121       425,626,096       911,652,905             13,925,653  

Cost of shares redeemed

    (30,111,720     (242,118,958     (965,252,969     (763,823,383     (4,344,141     (17,459,472

Net increase (decrease) in net assets resulting from capital share transactions

    321,769,423       238,617,163       (539,626,873     147,829,522       (4,344,141     (3,533,819

Net Increase (Decrease) in Net Assets

    219,493,088       277,601,505       (389,662,541     245,085,723       (1,478,705     (5,728,344

NET ASSETS:

 

Beginning of year

  $ 1,177,092,561     $ 899,491,056     $ 1,919,844,454     $ 1,674,758,731     $ 25,603,486     $ 31,331,830  

End of year

  $ 1,396,585,649     $ 1,177,092,561     $ 1,530,181,913     $ 1,919,844,454     $ 24,124,781     $ 25,603,486  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

    27,350,000       21,850,000       29,700,000       27,450,000       600,000       700,000  

Shares created

    9,100,000       10,850,000       6,650,000       14,700,000             300,000  

Shares redeemed

    (800,000     (5,350,000     (14,650,000     (12,450,000     (100,000     (400,000

Shares outstanding, end of year

    35,650,000       27,350,000       21,700,000       29,700,000       500,000       600,000  

 

See Notes to Financial Statements.

 

50   WisdomTree Trust


Financial Highlights

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Europe Hedged Equity
Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2021
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 74.04      $ 72.71      $ 51.83      $ 63.90      $ 62.67  

Investment operations:

              

Net investment income1

     2.12        1.38        1.76        1.52        1.79  

Net realized and unrealized gain (loss)

     7.75        1.62        20.86        (12.21      0.90  

Total from investment operations

     9.87        3.00        22.62        (10.69      2.69  

Dividends and distributions to shareholders:

              

Net investment income

     (1.89      (1.67      (1.74      (1.38      (1.29

Tax return of capital

                                 (0.17

Total dividends and distributions to shareholders

     (1.89      (1.67      (1.74      (1.38      (1.46

Net asset value, end of year

   $ 82.02      $ 74.04      $ 72.71      $ 51.83      $ 63.90  

TOTAL RETURN2

     13.94      4.04      44.22      (17.15 )%       4.33

RATIOS/SUPPLEMENTAL DATA:

              

Net assets, end of year (000’s omitted)

   $ 1,402,596      $ 1,865,747      $ 1,937,668      $ 2,200,271      $ 3,744,358  

Ratios to average net assets of:

              

Expenses

     0.79 %3       0.59 %3       0.58      0.58      0.58

Net investment income

     2.95      1.79      2.81      2.29      2.86

Portfolio turnover rate4

     38      34      55      26      18

 

           
WisdomTree Europe Hedged
SmallCap Equity Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2021
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 34.73      $ 33.96      $ 23.43      $ 30.17      $ 30.62  

Investment operations:

              

Net investment income1

     1.73        0.75        1.02        1.22        1.06  

Net realized and unrealized gain (loss)

     (1.06      0.915        10.56        (6.92      (0.89

Total from investment operations

     0.67        1.66        11.58        (5.70      0.17  

Dividends to shareholders:

              

Net investment income

     (1.63      (0.89      (1.05      (1.04      (0.62

Net asset value, end of year

   $ 33.77      $ 34.73      $ 33.96      $ 23.43      $ 30.17  

TOTAL RETURN2

     2.53      4.86      50.50      (19.62 )%       0.54

RATIOS/SUPPLEMENTAL DATA:

              

Net assets, end of year (000’s omitted)

   $ 48,967      $ 60,772      $ 37,353      $ 49,197      $ 120,671  

Ratios to average net assets of:

              

Expenses

     0.59 %3       0.63 %3       0.58      0.58      0.58

Net investment income

     5.34      2.08      3.59      3.99      3.55

Portfolio turnover rate4

     44      57      77      49      37
1 

Based on average shares outstanding.

 

2 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period.

 

3 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.58%.

 

4 

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

5 

The amount of net realized and unrealized gain per share does not correspond with the amount reported within the Statements of Changes due to the timing of capital share transactions of Fund shares and fluctuating market values during the fiscal year.

 

See Notes to Financial Statements.

 

WisdomTree Trust      51  


Financial Highlights (continued)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Germany Hedged
Equity Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2021
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 33.81      $ 34.95      $ 22.79      $ 28.63      $ 30.95  

Investment operations:

              

Net investment income1

     1.19        1.03        0.98        0.88        1.10  

Net realized and unrealized gain (loss)

     2.62        (0.79      12.16        (5.87      (2.64

Total from investment operations

     3.81        0.24        13.14        (4.99      (1.54

Dividends and distributions to shareholders:

              

Net investment income

     (1.22      (1.38      (0.98      (0.85      (0.59

Tax return of capital

                                 (0.19

Total dividends and distributions to shareholders

     (1.22      (1.38      (0.98      (0.85      (0.78

Net asset value, end of year

   $ 36.40      $ 33.81      $ 34.95      $ 22.79      $ 28.63  

TOTAL RETURN2

     11.92      0.50      58.59      (18.06 )%       (5.07 )% 

RATIOS/SUPPLEMENTAL DATA:

              

Net assets, end of year (000’s omitted)

   $ 21,842      $ 25,355      $ 31,459      $ 29,622      $ 51,541  

Ratios to average net assets of:

              

Expenses

     0.48      0.48      0.48      0.48      0.48

Net investment income

     3.67      2.90      3.38      2.95      3.66

Portfolio turnover rate3

     36      24      46      41      16

 

           
WisdomTree International Hedged
Quality Dividend Growth Fund
   For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2021
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 43.04     $ 41.17      $ 30.61      $ 32.14      $ 30.78  

Investment operations:

             

Net investment income1

     1.29       1.25        0.88        0.78        0.64  

Net realized and unrealized gain (loss)

     (0.45 )4       2.03        10.54        (1.59      0.83  

Net increase from payment by affiliate

           0.00 5        0.08                

Total from investment operations

     0.84       3.28        11.50        (0.81      1.47  

Dividends and distributions to shareholders:

             

Net investment income

     (1.33     (1.41      (0.94      (0.72      (0.11

Capital gains

     (3.38                           

Total dividends and distributions to shareholders

     (4.71     (1.41      (0.94      (0.72      (0.11

Net asset value, end of year

   $ 39.17     $ 43.04      $ 41.17      $ 30.61      $ 32.14  

TOTAL RETURN2

     3.00     7.93 %6        37.85 %7        (2.70 )%       4.78

RATIOS/SUPPLEMENTAL DATA:

             

Net assets, end of year (000’s omitted)

   $ 1,396,586     $ 1,177,093      $ 899,491      $ 592,346      $ 438,708  

Ratios to average net assets of:

             

Expenses

     0.59 %8,9,10       0.58 %8,9        0.58 %8,9        0.58 %8,9        0.58

Net investment income

     3.35 %8       2.85 %8        2.37 %8        2.32 %8        2.07

Portfolio turnover rate3

     86     61      67      61      56
1 

Based on average shares outstanding.

 

2 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. For the periods in which the investment advisor waived advisory fees for the WisdomTree International Hedged Quality Dividend Growth Fund, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

3 

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

4 

The amount of net realized and unrealized loss per share does not correspond with the amount reported within the Statements of Changes due to the timing of capital share transactions of Fund shares and fluctuating market values during the fiscal year.

 

5 

Amount represents less than $0.005.

6 

Includes a voluntary reimbursement from the sub-advisor for investment losses on certain equity transactions during the period. Excluding the voluntary reimbursement, total return would have been unchanged.

7 

Includes a voluntary reimbursement from the sub-advisor for investment losses on certain foreign exchange transactions during the period. Excluding this voluntary reimbursement, total return would have been 0.27% lower.

 

8 

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

9 

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

10 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.58%.

 

See Notes to Financial Statements.

 

52   WisdomTree Trust


Financial Highlights (concluded)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Japan Hedged Equity Fund   For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

  $ 64.64     $ 61.01     $ 42.64     $ 50.42     $ 55.76  

Investment operations:

         

Net investment income1

    1.91       1.52       1.02       1.05       1.06  

Net realized and unrealized gain (loss)

    6.54 2      3.76       18.73       (7.52     (5.03

Net increase from payment by affiliate

                0.00 3             

Total from investment operations

    8.45       5.28       19.75       (6.47     (3.97

Dividends to shareholders:

         

Net investment income

    (2.57     (1.65     (1.38     (1.31     (1.37

Net asset value, end of year

  $ 70.52     $ 64.64     $ 61.01     $ 42.64     $ 50.42  

TOTAL RETURN4

    13.48     8.79     46.97 %5      (13.26 )%      (7.20 )% 

RATIOS/SUPPLEMENTAL DATA:

         

Net assets, end of year (000’s omitted)

  $ 1,530,182     $ 1,919,844     $ 1,674,759     $ 1,709,801     $ 3,254,417  

Ratios to average net assets of:

         

Expenses

    0.48     0.48     0.48     0.48     0.48

Net investment income

    2.93     2.45     2.03     2.08     1.96

Portfolio turnover rate6

    37     22     25     20     23

 

           
WisdomTree Japan Hedged SmallCap
Equity Fund
  For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

  $ 42.67     $ 44.76     $ 33.88     $ 39.57     $ 44.13  

Investment operations:

         

Net investment income1

    1.12       0.99       0.64       0.75       0.51  

Net realized and unrealized gain (loss)

    6.12       (1.80     11.45       (5.52     (4.31

Total from investment operations

    7.24       (0.81     12.09       (4.77     (3.80

Dividends to shareholders:

         

Net investment income

    (1.66     (1.28     (1.21     (0.92     (0.76

Net asset value, end of year

  $ 48.25     $ 42.67     $ 44.76     $ 33.88     $ 39.57  

TOTAL RETURN4

    17.36     (1.80 )%      36.31     (12.41 )%      (8.77 )% 

RATIOS/SUPPLEMENTAL DATA:

         

Net assets, end of year (000’s omitted)

  $ 24,125     $ 25,603     $ 31,332     $ 44,049     $ 83,097  

Ratios to average net assets of:

         

Expenses

    0.58     0.58     0.58     0.58     0.58

Net investment income

    2.52     2.26     1.67     1.90     1.20

Portfolio turnover rate6

    46     41     41     36     38
1 

Based on average shares outstanding.

 

2 

The amount of net realized and unrealized gain per share does not correspond with the amount reported within the Statements of Changes due to the timing of capital share transactions of Fund shares and fluctuating market values during the fiscal year.

 

3 

Amount represents less than $0.005.

 

4 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period.

 

5 

Includes a voluntary reimbursement from the sub-advisor for investment losses on certain foreign exchange transactions during the period. Excluding this voluntary reimbursement, total return would have been unchanged.

 

6 

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

See Notes to Financial Statements.

 

WisdomTree Trust      53  


Notes to Financial Statements

 

1. ORGANIZATION

WisdomTree Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust was established as a Delaware statutory trust on December 15, 2005 and is authorized to have multiple series of portfolios (each a “Fund”, collectively, the “Funds”). These notes relate only to the Funds listed below. In accordance with Accounting Standards Codification Topic 946, Financial Services-Investment Companies, each Fund listed below qualifies as an investment company and is applying the accounting and reporting guidance for investment companies.

 

   
Fund    Commencement
of Operations
 

WisdomTree Europe Hedged Equity Fund (“Europe Hedged Equity Fund”)

     December 31, 2009  

WisdomTree Europe Hedged SmallCap Equity Fund (“Europe Hedged SmallCap Equity Fund”)

     March 4, 2015  

WisdomTree Germany Hedged Equity Fund (“Germany Hedged Equity Fund”)

     October 17, 2013  

WisdomTree International Hedged Quality Dividend Growth Fund (“International Hedged Quality Dividend Growth Fund”)

     May 7, 2014  

WisdomTree Japan Hedged Equity Fund (“Japan Hedged Equity Fund”)

     June 16, 2006  

WisdomTree Japan Hedged SmallCap Equity Fund (“Japan Hedged SmallCap Equity Fund”)

     June 28, 2013  

Each Fund seeks to track the price and yield performance, before fees and expenses, of a particular index (“Index”) developed by WisdomTree, Inc. (“WisdomTree”) or an Index developed by a third party. WisdomTree is the parent company of WisdomTree Asset Management, Inc. (“WTAM”), the investment adviser to each Fund and the Trust. “WisdomTree” is a registered trademark of WisdomTree and has been licensed for use by the Trust. Each Fund described herein is considered to be non-diversified as defined under the 1940 Act.

In the normal course of business, the Funds may enter into contracts that contain a variety of representations or that provide indemnification for certain liabilities. The Funds’ maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Funds have not had prior claims or losses pursuant to these contracts and believe such exposure to be remote.

2. SIGNIFICANT ACCOUNTING POLICIES

The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (the “Codification”) is the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal laws are also sources of authoritative GAAP for SEC registrants.

The following is a summary of significant accounting policies followed by the Funds:

Use of Estimates — The preparation of financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in the net assets from operations during the reporting period. Actual results could differ from those estimates.

Investment Valuation — The net asset value (“NAV”) of each Fund’s shares is calculated each day a Fund is open for business as of the regularly scheduled close of regular trading on the New York Stock Exchange, normally 4:00 p.m. Eastern time (the “NAV Calculation Time”). NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding. Each Fund issues and redeems shares at NAV only in large blocks of shares known as creation units, which only certain institutions (e.g., broker-dealers) may purchase or redeem. Shares of each Fund are listed on a national securities exchange and trade at market prices. Most investors will buy and sell shares in the secondary market through brokers. Because Fund shares trade at market prices rather than NAV, shares may trade at a price greater than NAV or less than NAV. In calculating each Fund’s NAV, investments are valued under policies approved by the Board of Trustees of the Trust (the “Board of Trustees”). Equity securities (including preferred stock) traded on any recognized U.S. or non-U.S. exchange are valued at the last sale price or official closing price on the exchange on which they are principally traded. Unlisted equity securities (including preferred stock) are valued at the last sale price or, if no sale price is available, at the mean between the highest bid and lowest ask price. Each Fund may invest in money market funds which are valued at their NAV per share and exchange-traded funds (“ETFs” or “ETF”) or exchange-traded notes (“ETNs” or “ETN”) which are valued at their last sale or official closing price on the exchange on which they are principally traded or at their NAV per share in instances where the ETF or ETN has not traded on its principal exchange. Foreign currency contracts that settle within two business days after the trade date (“Spot Contracts”) and foreign currency contracts having a settlement period greater than two business days after the trade date (“Forward Contracts”) are valued daily using WM/Reuters closing spot and forward rates, respectively, as of 4:00 p.m. London time.

 

54   WisdomTree Trust


Notes to Financial Statements (continued)

 

Pursuant to Board-approved valuation procedures established by the Trust and WTAM, the Board has appointed WTAM as the Funds’ valuation designee (the “Valuation Designee”) to perform all fair valuations of the Funds’ portfolio investments, subject to the Board’s oversight. As the Valuation Designee, WTAM has established procedures for its fair valuation of a Fund’s portfolio investments. These procedures address, among other things, determining when market quotations are not readily available or reliable and the methodologies to be used for determining the fair value of investments, as well as the use and oversight of third-party pricing services for fair valuation. The Valuation Designee is comprised of senior representatives of WTAM and reports to the Board of Trustees on a quarterly basis. In the event that a financial instrument cannot be valued based upon a price from the exchange or system on which it is principally traded, independent pricing service provider or broker-dealer quotation, or such prices are deemed to not reflect current market value, the Valuation Designee may value the financial instrument in good faith under the policies and procedures approved by the Board of Trustees based on current facts and circumstances. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations, securities whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next NAV Calculation Time that may materially affect the value of a Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair value pricing is employed, the prices of securities used by a Fund to calculate its NAV may differ from quoted or published prices for the same securities.

Fair Value Measurement — In accordance with Codification Topic 820 (“ASC 820”), Fair Value Measurements and Disclosures, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Valuation Designee will perform other procedures (consistent with GAAP) to value an investment when a market quote is not available. ASC 820 established a three-tier hierarchy of inputs to be used when determining fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk — for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The three-tier hierarchy of inputs is summarized in the three broad levels listed below:

Level 1 – quoted prices in active markets for identical securities

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates,

prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including each Fund’s assumptions in determining the fair value of

investments)

The inputs or methodology used for valuation are not necessarily an indication of the risk associated with investing in those investments.

Investments that use Level 2 or Level 3 inputs may include, but are not limited to: (i) an unlisted security related to corporate actions; (ii) a restricted security (e.g., one that may not be publicly sold without registration under the Securities Act of 1933, as amended); (iii) a security whose trading has been suspended (either due to events affecting the issuer of the security specifically or events affecting the primary trading exchange more broadly) or which has been de-listed from its primary trading exchange; (iv) a security that is thinly traded; (v) a security in default or bankruptcy proceedings for which there is no current market quotation or market activity; (vi) a security affected by currency controls or restrictions; and (vii) a security affected by a significant event (e.g., an event that occurs after the close of the markets In which the security is traded but before the time as of which a Fund’s NAV is computed and that may materially affect the value of the Fund’s investments).

The valuation techniques and significant inputs used in determining the fair market value measurements for Level 2 and Level 3 positions are as follows:

Financial instruments are generally valued by independent pricing service providers that use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models. Depending on the type of financial instrument, the independent pricing service providers’ internal pricing models may use inputs that are observable such as issuer details (e.g., credit rating, debt ranking, coupon date, maturity date, etc.), interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar assets. Financial instruments that use similar valuation techniques and observable inputs as described above and have an appropriate level of market activity are categorized as Level 2 of the fair value hierarchy, otherwise a Level 3 fair value classification is appropriate. Over-the-counter financial derivative instruments derive their value from underlying asset prices, indices, reference rates, and other inputs or a combination of these factors. These instruments are normally valued on the basis of broker-

 

WisdomTree Trust      55  


Notes to Financial Statements (continued)

 

dealer quotations or prices obtained from independent pricing service providers. Depending on the product and the terms of the transaction, the value of the financial derivative instruments can be estimated by an independent pricing service provider using a series of techniques including simulation pricing models. The pricing models may use inputs that are observed from actively quoted markets such as issuer details, indices, credit risks/spreads, interest rates, yield curves, default and exchange rates. Derivative contracts that use similar valuation techniques and observable inputs as described above and have an appropriate level of market activity are categorized as Level 2 of the fair value hierarchy, otherwise a Level 3 fair value classification is appropriate.

Determination of a fair value by the Valuation Designee may include significant unobservable inputs and therefore such financial instruments would be reflected as a Level 3 of the fair value hierarchy. The Valuation Designee may employ a market-based valuation approach which may use, among other potential considerations, related or comparable securities, recent transactions, market multiples, and other relevant information to determine fair value. The Valuation Designee may also use an income-based valuation approach in which anticipated future cash flows of the financial instrument are discounted to calculate fair value.

The summary of fair valuations according to the inputs used in valuing each Fund’s assets as of the measurement date is included in a “Fair Valuation Summary” supplementary table in each applicable Fund’s Schedule of Investments.

During the fiscal year ended March 31, 2023, there were no significant transfers into or out of Level 3 of the fair value hierarchy.

Derivatives and Hedging Disclosure — Codification Topic 815 (“ASC 815”), Derivatives and Hedging, requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts as well as gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements. The Funds have invested in derivatives, specifically foreign currency contracts during the fiscal year ended March 31, 2023 and open positions in such derivatives as of March 31, 2023 are detailed in each Fund’s Schedule of Investments. All of the derivative instruments disclosed and described herein are subject to credit risk. Risks may arise upon entering into foreign currency contracts from potential inability of a counterparty to meet the terms of their contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar or each other. Any collateral posted (or received) with respect to the derivative positions would be used to offset or reduce the payment due to (or due from) a counterparty in the event of default. Information with respect to the amounts and types of collateral received and/or posted for derivative instruments as of March 31, 2023, if any, is reflected as a footnote within each Fund’s Schedule of Investments. The Funds’ maximum credit risk exposure to derivatives agreements would be the total value of derivatives disclosed in the table included in Note 2 — Master Netting Arrangements under the column entitled “Assets: Net Amount”.

As of March 31, 2023, the effects of such derivative instruments on each Fund’s financial position as reflected in the Statements of Assets and Liabilities are presented in the summary below:

 

     
     Asset Derivatives      Liability Derivatives  
Fund    Balance Sheet Location    Value      Balance Sheet Location    Value  

Europe Hedged Equity Fund

 

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
   $ 13,313      Unrealized depreciation on
foreign currency contracts
   $ 30,839,660  

Europe Hedged SmallCap Equity Fund

 

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
     491      Unrealized depreciation on
foreign currency contracts
     1,226,568  

Germany Hedged Equity Fund

 

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
     207      Unrealized depreciation on
foreign currency contracts
     480,640  

International Hedged Quality Dividend Growth Fund

 

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
     855,522      Unrealized depreciation on
foreign currency contracts
     24,509,666  

Japan Hedged Equity Fund

 

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
     1,449,110      Unrealized depreciation on
foreign currency contracts
     30,521,289  

Japan Hedged SmallCap Equity Fund

 

Foreign currency risk

   Unrealized appreciation on
foreign currency contracts
     313      Unrealized depreciation on
foreign currency contracts
     457,253  

 

56   WisdomTree Trust


Notes to Financial Statements (continued)

 

For the fiscal year ended March 31, 2023, the effects of derivative instruments on each applicable Fund’s financial performance as reflected in the Statements of Operations are presented in the summary below:

 

     
Fund    Amount of Realized Gain
or (Loss) on Derivatives
Recognized1
     Change in Unrealized
Appreciation or
(Depreciation) on
Derivatives Recognized2
 

Europe Hedged Equity Fund

 

Foreign currency risk

   $ 151,918,839      $ (53,280,533

Europe Hedged SmallCap Equity Fund

 

Foreign currency risk

     5,780,468        (1,866,188

Germany Hedged Equity Fund

 

Foreign currency risk

     2,067,908        (805,892

International Hedged Quality Dividend Growth Fund

 

Foreign currency risk

     108,038,226        (35,512,967

Japan Hedged Equity Fund

 

Foreign currency risk

     336,288,156        (127,790,176

Japan Hedged SmallCap Equity Fund

 

Foreign currency risk

     4,847,030        (1,967,689
  1 

Realized gains (losses) on derivatives are located on the Statements of Operations as follows:

 

Foreign currency risk

   Net realized gain (loss) from foreign currency contracts
  2 

Change in unrealized appreciation (depreciation) is located on the Statements of Operations as follows:

 

Foreign currency risk

   Net increase (decrease) in unrealized appreciation/depreciation from foreign currency contracts

During the fiscal year ended March 31, 2023, the volume of derivative activity (based on the average of month-end balances) for each Fund was as follows:

 

   
     Average Notional  
Fund    Foreign currency
contracts
(to deliver
USD)
     Foreign currency
contracts
(to receive
USD)
 

Europe Hedged Equity Fund

 

Foreign currency risk

   $ 1,472,109,521      $ 2,888,854,157  

Europe Hedged SmallCap Equity Fund

 

Foreign currency risk

     47,354,473        92,277,124  

Germany Hedged Equity Fund

 

Foreign currency risk

     23,693,646        46,828,233  

International Hedged Quality Dividend Growth Fund

 

Foreign currency risk

     1,220,426,545        2,435,666,524  

Japan Hedged Equity Fund

 

Foreign currency risk

     1,937,045,288        3,793,646,053  

Japan Hedged SmallCap Equity Fund

 

Foreign currency risk

     24,518,103        48,283,900  

Investment Transactions and Investment Income — Investment transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses on sales of portfolio securities are calculated using the identified-cost method. Dividend income (less foreign taxes withheld, if any) is recognized on the ex-dividend date or as soon as practicable (with respect to foreign dividends) after the existence of a dividend declaration has been determined. Non-cash dividend income is recognized on the ex-dividend date, or as soon as practicable (with respect to foreign dividends) after the existence of a dividend declaration has been determined, at the fair value of securities received. On each measurement date, the Funds evaluate the collectability of receivable balances. Generally, the Funds will write-off dividend receivable balances that are canceled by the issuer as of the date that the dividend receivable cancellation notification was publicly made available or when it becomes probable that dividends will not be collected and the amount of uncollectable dividends can be reasonably estimated. Income earned from securities lending activities (i.e., securities lending income), net of fees payable to the securities borrower and/or securities lending agent, is accrued daily.

Foreign Taxes — The Funds may be subject to foreign taxes (a portion of which may be reclaimable or refundable) on foreign income or capital gains on investment transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and tax rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are accrued and applied to foreign income as the foreign income is earned and are reflected in the Statements of Operations as follows: foreign taxes

 

WisdomTree Trust      57  


Notes to Financial Statements (continued)

 

withheld on dividends are presented as a reduction to investment income in “Less: Foreign withholding taxes on dividends”, foreign taxes on capital gains from investment transactions, if any, are included in “Net realized gain (loss) from investment transactions”, and deferred foreign taxes on net unrealized appreciation on investments, if any, are included in “Net increase (decrease) in unrealized appreciation/depreciation on investment transactions”. Foreign taxes payable or deferred as of March 31, 2023, if any, are disclosed in the Statements of Assets and Liabilities in “Payables: Foreign capital gains tax”.

In certain foreign jurisdictions, when the Funds incur subsequent capital losses on investment transactions that occurred during the tax year in the applicable foreign jurisdiction, the Funds may be entitled to a refund on any foreign taxes paid on previous capital gain investment transactions that occurred during the tax year of the applicable foreign jurisdiction. Foreign capital gain tax refunds on investment transactions are included in “Net realized gain (loss) from investment transactions” on the Statements of Operations and foreign capital gain tax refunds that remain unpaid as of March 31, 2023, if any, is disclosed in the Statements of Assets and Liabilities in “Receivables: Foreign capital gains tax refund”.

The Funds file foreign tax reclaims in certain foreign jurisdictions to recover a portion of amounts previously withheld on dividend income if the tax reclaim is “more likely than not” to be sustained assuming examination by tax authorities. This determination is based on, among other things, a jurisdiction’s legal obligation to pay reclaims as well as payment history and market convention. Foreign tax reclaims recorded relating to current fiscal year investment income are included in the Statements of Operations as a reduction to the balance shown for “Foreign withholding taxes on dividends” and foreign tax reclaims recorded, but not yet received as of March 31, 2023, if any, are shown on the Statements of Assets and Liabilities in “Receivables: Foreign tax reclaims”.

Foreign Currency Translation — The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies, as well as investment securities and other assets and liabilities denominated in foreign currencies, are translated into U.S. dollars using exchange rates prevailing on the respective dates of such transactions that are deemed appropriate by WTAM. Realized and unrealized foreign exchange gains and losses on investments are included as a component of “net realized gain (loss) from investment transactions” and “net increase (decrease) in unrealized appreciation/depreciation from investment transactions”, respectively, on the Statements of Operations. Realized and unrealized foreign exchange gains or losses from foreign currency contracts are included in “net realized gain (loss) from foreign currency contracts” and “net increase (decrease) in unrealized appreciation/depreciation from foreign currency contracts”, respectively, on the Statements of Operations. Realized and unrealized foreign exchange gains or losses arising from sales of foreign currencies, currency gains or losses recognized between the trade and settlement dates on investment transactions, and the difference between the amounts of dividends and foreign withholding taxes recorded on the Funds’ books and the U.S. dollar equivalent of the amounts actually received or paid are included in “net realized gain (loss) from foreign currency related transactions” and/or “net increase (decrease) in unrealized appreciation/depreciation from translation of assets and liabilities denominated in foreign currencies” in the Statements of Operations. Certain foreign exchange gains and losses included in realized and unrealized gains or losses are included in, or are a reduction of, ordinary income in accordance with U.S. Federal income tax regulations.

Expenses — Under the investment advisory agreement for each Fund, except for Funds that commenced operations on or after March 26, 2013, WTAM has agreed to pay all expenses of the Trust, except for: (i) brokerage expenses and other expenses (such as stamp taxes) connected with the execution of portfolio transactions or in connection with creation and redemption transactions; (ii) legal fees or expenses in connection with any arbitration, litigation or pending or threatened arbitration or litigation, including any settlements in connection therewith; (iii) compensation and expenses of trustees who are not interested persons of the Funds (“Independent Trustees”); (iv) compensation and expenses of counsel to the Independent Trustees; (v) compensation and expenses of the Trust’s Chief Compliance Officer (“CCO”); (vi) extraordinary expenses; (vii) distribution fees and expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act; and (viii) the advisory fee payable to WTAM.

Under the investment advisory agreement for Funds that commenced operations on or after March 26, 2013, WTAM has agreed to pay all expenses of the Trust, except for: (i) brokerage expenses and other fees, charges, taxes, levies or expenses (such as stamp taxes) incurred in connection with the execution of portfolio transactions or in connection with creation and redemption transactions (including without limitation any fees, charges, taxes, levies or expenses related to the purchase or sale of an amount of any currency, or the patriation or repatriation of any security or other asset, related to the execution of portfolio transactions or any creation or redemption transactions); (ii) legal fees or expenses in connection with any arbitration, litigation or pending or threatened arbitration or litigation, including any settlements in connection therewith; (iii) compensation and expenses of each Independent Trustee; (iv) compensation and expenses of counsel to the Independent Trustees; (v) compensation and expenses of the Trust’s CCO; (vi) extraordinary expenses (in each case as determined by a majority of the Independent Trustees); (vii) distribution fees and expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act; (viii) interest and taxes of any kind or nature (including, but not limited to, income, excise, transfer and withholding taxes); (ix) fees and expenses related to the provision of securities lending services; and (x) the advisory fee payable to WTAM.

Acquired fund fees and expenses (“AFFEs”) (which are fees and expenses incurred indirectly by a Fund through its investments in certain underlying investment companies) are not operating expenses of the Funds and are not paid by WTAM.

 

58   WisdomTree Trust


Notes to Financial Statements (continued)

 

Pursuant to a separate contractual arrangement, WTAM arranges for the provision of CCO services with respect to each Fund, and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees. WTAM receives a fee, as shown on the Statements of Operations under “Service fees”, of up to 0.0044% per annum of each Fund’s average daily net assets for providing such services and paying such expenses. WTAM provides CCO services to the Trust.

Currency Transactions — The Funds may enter into foreign currency contracts to facilitate local securities settlements or to protect against currency exposure. The Funds may not enter into such contracts for speculative purposes.

Foreign Currency Contracts — The Funds may enter into foreign currency contracts to facilitate local securities settlements or to protect against currency exposure. The Funds may not enter into such contracts for speculative purposes. During the fiscal year ended March 31, 2023, the Funds utilized foreign currency contracts primarily to offset exposure to foreign currencies consistent with each Fund’s investment objective. A foreign currency contract involves an obligation to purchase or sell a specific currency at a future date, which may be any fixed number of days from the date of the contract agreed upon by the parties, at a price set at the time of the contract. These contracts are principally traded in the inter-bank market conducted directly between currency traders (usually large, commercial banks) and their customers. A foreign currency contract generally does not require an initial margin deposit and no commissions are charged at any stage for trades.

Risks may arise upon entering into foreign currency contracts from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of foreign currencies relative to the U.S. dollar or each other.

Fluctuations in the value of open foreign currency contracts are recorded for book purposes as unrealized gains or losses on foreign currency contracts by the Funds and are included in “net increase (decrease) in unrealized appreciation/depreciation from foreign currency contracts” on the Statements of Operations. Realized gains and losses on foreign currency contracts include net gains or losses recognized by the Funds on contracts which have settled are included in “net realized gain (loss) from foreign currency contracts on the Statements of Operations.

Securities Lending — Each Fund may lend portfolio securities to certain creditworthy borrowers, including the Funds’ securities lending agent. It is the Funds’ policy that, at origination, all loans are secured by collateral of at least 102% of the value of U.S. securities loaned and 105% of the value of foreign securities loaned. Collateral in the form of cash and/or securities issued or guaranteed by the U.S. government or its agencies, equivalent to at least 100% of the market value of securities, is maintained at all times. The cash collateral can be invested in certain money market mutual funds which also have exposure to the fluctuations of the market. The values of the investments of cash collateral for securities on loan along with the obligations to return such collateral are included on the Statements of Assets and Liabilities. The total value of securities received as collateral for securities on loan is included in a footnote following each Schedule of Investments, but is not included within the Statements of Assets and Liabilities because the receiving Fund does not have the right to sell or repledge the securities received as collateral. As compensation for lending its securities, each Fund retains all or a portion of the interest received on investment of cash collateral or receives a fee from the borrower (net of any fee rebates paid to the borrower). The lending agent receives a portion of the income earned by the Funds in connection with the lending program. The net securities lending income earned by the Funds is disclosed on the Statements of Operations. The dividend income earned on the securities loaned is accounted for in the same manner as other dividend income. The borrower pays to the Funds an amount equal to any dividends or interest received on loaned securities. Dividends received while a security is out on loan are not considered Qualified Dividend Income (“QDI”) under the specific criteria issued by the Internal Revenue Service and are subject to taxation at the shareholder’s ordinary income tax rate instead of the lower long-term capital gains tax rate. Lending portfolio securities could result in a loss or delay in recovering each Fund’s securities if the borrower defaults. In the event of a borrower default with respect to the failure to return to each Fund some or all of the securities loaned, the securities lending agent shall indemnify each Fund against the failure of the borrower if the value of the collateral received is insufficient to cover the market value of the securities loaned.

Master Netting Arrangements — Codification Topic 210 (“ASC 210”), Balance Sheet, requires disclosures generally intended to (i) help investors and other financial statement users to better assess the effect or potential effect of offsetting arrangements on a company’s financial position, (ii) improve transparency in the reporting of how companies mitigate credit risk, and (iii) facilitate comparisons between those entities that prepare their financial statements on the basis of GAAP and those entities that prepare their financial statements on the basis of international financial reporting standards. ASC 210 requires entities to disclose (i) gross and net information about both instruments and transactions eligible for offset in the financial statements, and (ii) instruments and transactions subject to an agreement similar to a master netting agreement. ASC 210 is limited in scope to the following financial instruments, to the extent they are offset in the financial statements or subject to an enforceable master netting arrangement or similar agreement: (i) recognized derivative instruments accounted for under ASC 815 (Derivatives and Hedging); (ii) repurchase agreements and reverse repurchase agreements; and (iii) securities borrowing and securities lending transactions.

In order to better define its contractual rights and to secure rights that will help a Fund mitigate its counterparty risk, a Fund enters into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) with its counterparties. An ISDA Master Agreement is a bilateral agreement between a Fund and a counterparty that governs over-the-counter derivatives

 

WisdomTree Trust      59  


Notes to Financial Statements (continued)

 

(“OTC”), such as foreign currency contracts, and typically contains, among other things, collateral posting terms, netting and rights of set-off provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, a Fund may, under certain circumstances, offset with the counterparty certain derivative financial instruments’ payables and receivables to create a single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of a default (close-out netting) or similar event, including the bankruptcy or insolvency of the counterparty.

Collateral requirements generally differ by type of derivative. Collateral terms are contract-specific for OTC derivatives (e.g., foreign currency contracts, options and certain swaps). To the extent amounts due to a Fund from its derivatives counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from a counterparty’s non-performance.

The Funds’ securities lending activities are governed by a Securities Lending Authorization Agreement (“Lending Agreement”) between the Funds and the lending agent. The Lending Agreement authorizes the lending agent to lend qualifying U.S. and foreign securities held by a Fund to approved borrowers (each a “Borrower”). To mitigate borrower risk, a Fund typically receives from a Borrower collateral in the form of U.S. dollar cash and/or securities issued or guaranteed by the U.S. government or its agencies in excess of the market value of the securities loaned. Under the provisions of the Lending Agreement, a Fund shall have, as to the collateral, all of the rights and remedies of a secured party under applicable law. A Fund is exposed to risk of loss if a Borrower defaults on its obligation to return borrowed securities and the value of the collateral a Fund received is insufficient to cover the market value of the securities loaned. Also, the lending agent is permitted to invest the cash collateral it receives from a Borrower into a money market fund which is subject to market fluctuation. Therefore, a Fund is exposed to risk of loss if the value of invested cash collateral is insufficient to satisfy the Fund’s obligation to return the full amount owed to such Borrower. However, in the event of a borrower default with respect to the failure to return to each Fund some or all of the securities loaned, the securities lending agent shall indemnify each Fund against the failure of the borrower if the value of the collateral received is insufficient to cover the market value of the securities loaned.

For financial reporting purposes, the Funds elect to not offset assets and liabilities subject to an ISDA Master Agreement or Lending Agreement, if any, in the Statements of Assets and Liabilities. Therefore, all qualifying transactions are presented on a gross basis in the Statements of Assets and Liabilities. As of March 31, 2023, the impact of netting of assets and liabilities and the offsetting of collateral pledged or received based on contractual netting/set-off provisions in the ISDA Master Agreement and the Lending Agreement are detailed in the following table:

 

     
    Assets     Liabilities  
   

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
         

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
       
Fund   Financial
Instruments
    Collateral
Received
    Net Amount     Financial
Instruments
    Collateral
Posted
    Net Amount  

Europe Hedged Equity Fund

               

Securities Lending

  $ 116,002,917     $     $ (116,002,917 )1    $     $     $     $     $  

Foreign Currency Contracts

    13,313       (13,269           44       30,839,660       (13,269           30,826,391  

Europe Hedged SmallCap Equity Fund

               

Securities Lending

    5,618,836             (5,618,836 )1                               

Foreign Currency Contracts

    491       (490           1       1,226,568       (490           1,226,078  

Germany Hedged Equity Fund

               

Foreign Currency Contracts

    207       (207                 480,640       (207           480,433  

International Hedged Quality Dividend Growth Fund

               

Securities Lending

    65,371,075             (65,371,075 )1                               

Foreign Currency Contracts

    855,522       (855,245           277       24,509,666       (855,245           23,654,421  

Japan Hedged Equity Fund

               

Securities Lending

    182,587,493             (182,587,493 )1                               

Foreign Currency Contracts

    1,449,110       (452,584           996,526       30,521,289       (452,584           30,068,705  

Japan Hedged SmallCap Equity Fund

               

Securities Lending

    6,991,103             (6,991,103 )1                               

Foreign Currency Contracts

    313       (313                 457,253       (313           456,940  
  1

The amount of collateral presented has been limited such that the net amount by counterparty cannot be less than zero.

Short-Term Investments — Each Fund may invest a portion of its assets in high-quality money market instruments on an ongoing basis to provide liquidity or for other reasons. The instruments include short-term obligations issued by the U.S. government, its agencies, non-U.S. government agencies, negotiable certificates of deposit (“CDs”), fixed time deposits and bankers’ acceptances of U.S. and foreign banks and similar institutions, commercial papers, repurchase agreements and money market funds. CDs are short-term negotiable obligations of commercial banks. Time deposits are non-negotiable deposits maintained in banking institutions for

 

60   WisdomTree Trust


Notes to Financial Statements (continued)

 

specified periods of time at stated interest rates. Banker’s acceptances are time drafts drawn on commercial banks by borrowers, usually in connection with international transactions.

Tax Information and Dividends and Distributions to Shareholders — It is each Fund’s policy to comply with all requirements of the Internal Revenue Code of 1986, as amended (the “Code”). A portion of the Code, known as subchapter M (“Subchapter M”), addresses the ways by which investment companies and investment trusts may pass income through to shareholders in order to avoid double taxation. Each Fund intends to qualify for and to elect treatment as a separate Regulated Investment Company (“RIC”) under Subchapter M of the Code so that it will not be subject to federal income tax on income and gains that are timely distributed to Fund shareholders. Accordingly, no provision for U.S. federal income taxes is required. In order to qualify for the special tax treatment accorded to RICs and their shareholders, each Fund must, among other things, distribute with respect to each taxable year an amount equal to or greater than the sum of 90% of its investment company taxable income and 90% of its net tax-exempt interest income. There can be no guarantee that a Fund will pay dividends. Taxable net realized gains from investment transactions, reduced by capital loss carryforwards, if any, are declared and distributed to shareholders at least annually. The capital loss carryforward amount, if any, is available to offset future net capital gains. The Funds may occasionally be required to make supplemental distributions at some other time during the year. The Trust reserves the right to declare special distributions if, in its reasonable discretion, such action is necessary or advisable to preserve the status of each Fund as a RIC or to avoid imposition of income or excise taxes on undistributed income. Dividends and distributions to shareholders are recorded on the ex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains is determined in accordance with the requirements of the Code and the U.S. Treasury regulations (i.e., tax basis) which may differ to amounts determined under GAAP (i.e., book basis). These book/tax differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the components of net assets based on their Federal tax basis treatment; temporary differences do not require reclassification. Dividends and distributions that exceed earnings and profit for tax purposes are reported for tax purposes as a return of capital.

3. ADVISORY FEES AND OTHER TRANSACTIONS WITH AFFILIATES

WTAM has overall responsibility for the general management and administration of the Trust. WTAM provides an investment program for each Fund. WTAM has arranged for Mellon Investments Corporation (“Mellon”) to provide sub-advisory services to the Funds. Mellon is compensated by WTAM at no additional cost to the Funds. WTAM also arranges for transfer agency, custody, fund accounting, fund administration, securities lending and all other non-distribution related services necessary for the Funds to operate, which are generally under separate agreements entered into between the Trust on behalf of the Funds and the applicable service provider. Under the investment advisory agreement for each Fund, WTAM agrees to pay all expenses of the Funds, except for certain expenses described in Note 2.

Pursuant to a separate contractual arrangement, as also described in Note 2, WTAM arranges for the provision of CCO services with respect to each Fund, and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees in exchange for a fee, accrued daily and paid monthly in arrears, of up to 0.0044% per annum of each Fund’s average daily net assets.

WTAM expects to receive annual advisory fees from each Fund, based on a percentage of the Fund’s average daily net assets, as shown in the following table:

 

   
Fund    Advisory
Fee Rate
 

Europe Hedged Equity Fund

     0.58

Europe Hedged SmallCap Equity Fund

     0.58

Germany Hedged Equity Fund

     0.48

International Hedged Quality Dividend Growth Fund

     0.58

Japan Hedged Equity Fund

     0.48

Japan Hedged SmallCap Equity Fund

     0.58

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Transactions in shares of affiliated ETFs for the fiscal year ended March 31, 2023, as applicable, are included in an “Investment in Affiliates” supplementary table in each applicable Fund’s Schedule of Investments. For these transactions, WTAM voluntarily waives a portion of the advisory fees that it would otherwise charge, for each Fund’s investment in affiliated funds. The waivers may be reduced to offset the incremental costs related to these investments (e.g., fund accounting, safekeeping, transaction fees, etc.) that are paid by WTAM out of its advisory fee. The dollar amount of advisory fees waived during the period for the Funds, if any, are included in the Statement of Operations in “Expense waivers”.

During the fiscal year ended March 31, 2023, certain Funds engaged in purchase and sale transactions with funds that have a common investment adviser, WTAM. These interfund purchase and sale transactions were effected in accordance with Rule 17a-7

 

WisdomTree Trust      61  


Notes to Financial Statements (continued)

 

under the 1940 Act. For the fiscal year ended March 31, 2023, the cost of purchases, proceeds from sales and the net realized gain or loss recognized upon the disposal of securities resulting from interfund transactions are shown in the following table:

 

       
Fund    Purchases      Sales      Net Realized Loss  

Europe Hedged Equity Fund

   $ 8,614,410      $ 21,982,925      $ (7,747,171

Europe Hedged SmallCap Equity Fund

     1,401,723        1,276,336        (408,223

Germany Hedged Equity Fund

     841,576        689,639        (66,559

International Hedged Quality Dividend Growth Fund

     52,273,093        49,377,000        (15,781,725

Japan Hedged Equity Fund

     8,028,401        9,774,406        (5,197,813

Japan Hedged SmallCap Equity Fund

     1,122,223        696,223        (350,422

WTAM and/or WisdomTree (collectively herein, “WT”) may from time to time own shares of a Fund. As of and for the fiscal year ended March 31, 2023, WT held shares of and received distributions from the following Funds, which were purchased through an unaffiliated broker in ordinary brokerage transactions in the secondary market in which the Funds’ shares trade:

 

       
     At March 31, 2023            For the Fiscal Year Ended
March 31, 2023
 
Fund    Fund Shares
held by WT
     Market Value of
Fund Shares
held by WT
            Dividends and
Distributions paid to
WT on
Fund Shares
held by WT
 

International Hedged Quality Dividend Growth Fund

          $              $ 167  

Japan Hedged Equity Fund

     17        1,202                43  

4. CAPITAL SHARE TRANSACTIONS

As of March 31, 2023, there were an unlimited number of $0.001 par value shares of beneficial interest authorized by the Trust. Shares are issued and redeemed by each Fund only in creation units or multiples thereof to an authorized participant (“AP”). Except when aggregated in creation units (“Creation Unit Aggregations”), shares of each Fund are not redeemable. Transactions in shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets. The consideration for the purchase of creation units of a Fund generally consists of the in-kind contribution of a basket of securities (“Deposit Securities”) and/or an amount of cash (“Cash Component”). Creation Unit Aggregations may be created in advance of receipt by a Fund of all or a portion of the applicable Deposit Securities from APs. In these circumstances, the initial deposit received from the AP will have a value greater than the NAV of the applicable Fund’s shares on the date the order is placed in proper form since, in addition to available Deposit Securities, U.S. cash must be deposited by the AP in an amount equal to the sum of (i) the Cash Component, plus (ii) generally between 102%-110%, as directed by the Trust or WTAM, which the Trust or WTAM may change from time to time, of the market value of the undelivered Deposit Securities (the “Additional Cash Deposit”) with the Fund pending delivery of any missing Deposit Securities. The Fund will return any unused portion of the Additional Cash Deposit once all of the missing Deposit Securities have been properly received from the AP or purchased by the Fund. Amounts due to be returned to an AP as of March 31, 2023, if any, is shown in the Statements of Assets and Liabilities in “Payables: Deposit due to authorized participant”. APs purchasing and redeeming creation units may be charged a purchase transaction fee and a redemption transaction fee to offset transfer and other transaction costs associated with the issuance and redemption of creation units.

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments (excluding purchases and sales resulting from in-kind capital share transactions and short-term investments) and the cost of purchases and the proceeds from sales resulting from in-kind capital share transactions (excluding short-term investments) for the fiscal year ended March 31, 2023 are shown in the following table. Realized gains and losses on sales resulting from in-kind capital share redemptions, as shown on the Statements of Operations, are not recognized by the Funds for tax purposes.

 

       
                   In-kind Capital Share Transactions  
Fund    Purchases      Sales      Purchases      Sales  

Europe Hedged Equity Fund

   $ 634,600,052      $ 535,289,618      $ 23,284,656      $ 569,407,572  

Europe Hedged SmallCap Equity Fund

     23,814,096        19,447,026        19,220,549        26,087,012  

Germany Hedged Equity Fund

     9,516,763        8,153,441               4,910,340  

International Hedged Quality Dividend Growth Fund

     1,062,959,398        1,040,169,051        309,461,163        31,359,126  

Japan Hedged Equity Fund

     897,251,441        675,520,171        386,077,929        939,056,619  

Japan Hedged SmallCap Equity Fund

     13,766,958        10,826,195               4,367,951  

 

62   WisdomTree Trust


Notes to Financial Statements (continued)

 

6. FEDERAL INCOME TAXES

At March 31, 2023, the cost of investments (including securities on loan and derivatives) for Federal income tax purposes was as follows:

 

         
    Investments in Long Securities           Investments in Financial Derivatives1        
Fund   Tax Cost    

Gross

Unrealized
Appreciation

    Gross
Unrealized
Depreciation
   

Net Unrealized
Appreciation/

(Depreciation)

           Gross
Unrealized
Appreciation
    Gross
Unrealized
Depreciation
    Net Unrealized
Appreciation/
(Depreciation)
   

Total Net
Unrealized
Appreciation/

(Depreciation)

 

Europe Hedged Equity Fund

  $ 1,297,218,885     $ 295,280,111     $ (86,894,362   $ 208,385,749             $     $     $     $ 208,385,749  

Europe Hedged SmallCap Equity Fund

    54,734,799       3,116,684       (3,778,213     (661,529                               (661,529

Germany Hedged Equity Fund

    19,864,138       3,652,741       (1,712,329     1,940,412                     (5     (5     1,940,407  

International Hedged Quality Dividend Growth Fund

    1,208,054,338       272,958,804       (35,688,799     237,270,005               75,773       (129,525     (53,752     237,216,253  

Japan Hedged Equity Fund

    1,651,690,018       112,480,926       (156,259,521     (43,778,595             662             662       (43,777,933

Japan Hedged SmallCap Equity Fund

    28,644,028       1,822,348       (2,542,561     (720,213                               (720,213
  1 

Certain financial derivatives may be considered section 1256 contracts under the Code. Each section 1256 contract held at the close of a taxable year shall be treated as sold for its fair market value on the last business day of such taxable year (and any realized gain and loss shall be taken into account for the taxable year). As such, the unrealized appreciation/(depreciation) for financial derivatives on a tax basis may not correspond to the unrealized appreciation/(depreciation) on a GAAP basis. The unrealized appreciation/(depreciation) for financial derivatives on a GAAP basis is located in the respective financial derivatives tables in each Fund’s Schedule of Investments.

At March 31, 2023, the components of total distributable earnings (loss) on a tax-basis were as follows:

 

             
Fund    Undistributed
Ordinary Income
     Undistributed
Capital and
Other Losses
    

Net Unrealized
Appreciation/

(Depreciation)

     Currency and
Other Unrealized
Appreciation/
(Depreciation)
    

Other

Temporary

Differences1

     Total Distributable
Earnings (Loss)
 

Europe Hedged Equity Fund

   $ 2,232,481      $ (2,047,433,581    $ 208,385,749      $ (424,472    $ 405,420      $ (1,836,834,403

Europe Hedged SmallCap Equity Fund

     118,364        (21,217,338      (661,529      (3,197      27,191        (21,736,509

Germany Hedged Equity Fund

     6,890        (33,203,412      1,940,412        (12,178             (31,268,288

International Hedged Quality Dividend Growth Fund

     3,766,701        (254,845,058      237,270,005        117,142               (13,691,210

Japan Hedged Equity Fund

     23,735,678        (1,638,582,830      (43,778,595      (60,047             (1,658,685,794

Japan Hedged SmallCap Equity Fund

     267,024        (22,749,740      (720,213      (721             (23,203,650
  1 

The treatment of certain income/expense items have been recognized for GAAP but disallowed for tax purposes.

The tax character of distributions paid during the fiscal years ended March 31, 2023 and March 31, 2022, was as follows:

 

     
     Year Ended March 31, 2023      Year Ended March 31, 2022  
Fund    Distributions Paid
from Ordinary
Income*
     Distributions Paid
from Long-Term
Capital Gains
     Distributions Paid
from Ordinary
Income*
 

Europe Hedged Equity Fund

   $ 40,224,525      $      $ 44,246,812  

Europe Hedged SmallCap Equity Fund

     2,393,909               1,117,302  

Germany Hedged Equity Fund

     889,504               1,209,360  

International Hedged Quality Dividend Growth Fund

     57,349,516        95,240,254        34,880,873  

Japan Hedged Equity Fund

     70,598,895               51,969,830  

Japan Hedged SmallCap Equity Fund

     888,720               980,043  
  * 

Includes short-term capital gains, if any.

At March 31, 2023, for Federal tax purposes, the Funds have capital loss carryforwards available to offset future capital gains as indicated in the following table. The loss carryforward amounts do not have an expiration date and, therefore, can be carried

 

WisdomTree Trust      63  


Notes to Financial Statements (continued)

 

forward indefinitely until utilized. To the extent that these loss carryforwards are utilized, capital gains so offset will not be distributed to shareholders.

 

       
Fund    Short-Term      Long-Term     

Capital Loss

Available Total

 

Europe Hedged Equity Fund

   $ 952,335,356      $ 1,095,098,225      $ 2,047,433,581  

Europe Hedged SmallCap Equity Fund

     12,647,248        8,570,090        21,217,338  

Germany Hedged Equity Fund

     15,350,554        17,852,858        33,203,412  

International Hedged Quality Dividend Growth Fund

                    

Japan Hedged Equity Fund

     935,559,035        703,023,795        1,638,582,830  

Japan Hedged SmallCap Equity Fund

     11,545,305        11,204,435        22,749,740  

Capital losses incurred after October 31 (“post-October capital losses”) and late year ordinary losses incurred after December 31 within the taxable year are deemed to arise on the first business day of each Fund’s next taxable year. At March 31, 2023, the Funds did not have any late year ordinary losses to defer.

During the fiscal year ended March 31, 2023, the following Funds incurred and will elect to defer post-October capital losses as follows:

 

     
Fund    Short-Term
Post-October
Capital Losses
     Long-Term
Post-October
Capital Losses
 

Europe Hedged Equity Fund

   $      $  

Europe Hedged SmallCap Equity Fund

             

Germany Hedged Equity Fund

             

International Hedged Quality Dividend Growth Fund

     176,627,574        78,217,484  

Japan Hedged Equity Fund

             

Japan Hedged SmallCap Equity Fund

             

During the fiscal year ended March 31, 2023, the amount of capital loss carryforwards used to offset realized gains are shown in the following table:

 

   
Fund    Utilized
Capital Loss
Carryforward
 

Europe Hedged Equity Fund

   $  

Europe Hedged SmallCap Equity Fund

      

Germany Hedged Equity Fund

      

International Hedged Quality Dividend Growth Fund

      

Japan Hedged Equity Fund

     12,173,258  

Japan Hedged SmallCap Equity Fund

      

At March 31, 2023, the effect of permanent “book/tax” reclassifications resulted in increases (decreases) to the components of net assets as shown in the following table. The differences are primarily due to redemptions-in-kind.

 

     
Fund   

Total
Distributable

Earnings (Loss)

     Paid-in Capital  

Europe Hedged Equity Fund

   $ (35,826,566    $ 35,826,566  

Europe Hedged SmallCap Equity Fund

     3,783,317        (3,783,317

Germany Hedged Equity Fund

     (677,785      677,785  

International Hedged Quality Dividend Growth Fund

     (5,306,605      5,306,605  

Japan Hedged Equity Fund

     (64,013,040      64,013,040  

Japan Hedged SmallCap Equity Fund

     210,228        (210,228

GAAP provides guidance on tax provisions that prescribe a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. As of and during the fiscal year ended March 31, 2023, the Funds did not have any liabilities for unrecognized tax benefits relating to uncertain income tax positions they have taken or expect to take in the future. If applicable, the Funds will recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in “Other” expenses on the Statements of Operations. The Funds file tax returns with the Internal Revenue Service, the State of New

 

64   WisdomTree Trust


Notes to Financial Statements (continued)

 

York, and various other states. Specific to U.S. federal and state taxes, generally, each of the tax years in the four-year period ended March 31, 2023, remains subject to examination by taxing authorities. Specific to foreign countries in which the Funds invest, all open tax years remain subject to examination by taxing authorities in the respective jurisdictions.

As a result of several European Court of Justice (“ECJ”) court cases in certain countries across the European Union (“EU”), certain Funds have filed additional tax reclaims for previously withheld taxes on dividends earned in those countries (“ECJ tax reclaims”). These additional filings are subject to various administrative proceedings by the local jurisdictions’ tax authorities within the EU, as well as a number of related judicial proceedings. Income recognized, if any, for ECJ tax reclaims is reflected as “Other income” in the Statements of Operations and the cost to file these additional ECJ tax reclaims is reflected as “Other fees” in the Statements of Operations. When the ECJ tax reclaim is not “more likely than not” to be sustained assuming examination by tax authorities due to the uncertainty that exists as to the ultimate resolution of these proceedings, the likelihood of receipt of these ECJ tax reclaims, and the potential timing of payment, no amounts are reflected in the financial statements. For U.S. income tax purposes, ECJ tax reclaims received by the Funds, if any, reduce the amounts of foreign taxes Fund shareholders can use as tax credits in their individual income tax returns. In the event that ECJ tax reclaims received by a Fund during the fiscal year exceed foreign withholding taxes paid, and a Fund previously passed foreign tax credits on to its shareholders, a Fund must either amend historic tax reporting to shareholders or enter into a closing agreement with the Internal Revenue Service in order to pay the associated tax liability on behalf of the respective Fund’s shareholders. During the fiscal year ended March 31, 2023, the ECJ tax reclaims received by the Funds, except for the Europe Hedged Equity Fund, did not exceed the foreign withholding taxes of the respective Funds. During the fiscal year ended March 31, 2023, the Europe Hedged Equity Fund received ECJ tax reclaims in excess of its foreign withholding taxes during the fiscal year. The Europe Hedged Equity Fund expects to enter into a closing agreement with the Internal Revenue Service and has recognized estimated closing agreement fees of $4,318,457 which are shown on the Statements of Operations in “Investment Income: Less IRS closing agreement fee”.

7. RECENT REGULATORY UPDATE

Effective August 19, 2022, the Funds have adopted policies and procedures to comply with new regulations issued by the SEC governing the use of derivatives by registered investment companies (“Rule 18f-4”). Rule 18f-4 imposes limits on the amount of derivatives a fund can enter into, eliminates the asset segregation framework used by the Funds prior to August 19, 2022 to comply with Section 18 of the 1940 Act, and requires funds, whose use of derivatives is greater than a limited specified amount, to establish and maintain a comprehensive derivatives risk management program and appoint a derivatives risk manager. Rule 18f-4 has not had a material impact on the Funds’ financial statements.

The fair valuation Rule 2a-5 went into effect on September 8, 2022. The Rule sets forth requirements for determining the fair value of portfolio securities and establishes a framework focused on process, testing and oversight. The Rule allows fund boards to designate a valuation designee responsible for performing fair value determinations in good faith. WTAM has been designated as the Valuation Designee for the Funds and is responsible for assessing material risks, establishing fair value methodologies, testing the appropriateness and accuracy of the methodologies and overseeing third-party pricing vendors. Under the new fair valuation policies, WTAM is responsible for regular quarterly reporting of any material fair valuation matter, annual reporting on the adequacy of the Valuation Designee’s processes, and the prompt notification to the board of any material impact of the fair value process on portfolio investments.

8. RECENT ACCOUNTING PRONOUNCEMENT

In June 2022, the FASB issued Accounting Standards Update No. 2022-03 (“ASU 2022-03”), Fair Value Measurement (Topic 820) — Fair Value Measurement of Equity Securities Subject to Contractual Sales Restrictions. The amendments in ASU 2022-03 clarify that a contractual restriction on a sale of an equity security is not considered a part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The amendments in ASU 2022-03 also require the following disclosures for equity securities subject to contractual sale restrictions: (i) the fair value of equity securities subject to contractual sale restrictions reflected in the balance sheet, (ii) the nature and remaining duration of the restriction(s), and (iii) the circumstances that could cause a lapse in the restriction(s). The amendments in ASU 2022-03 are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years for public business entities (early adoption is also permitted). WTAM has evaluated ASU 2022-03 and determined that the adoption of ASU 2022-03 will not have a significant impact on the Trust’s financial statements and related disclosures.

9. ADDITIONAL INFORMATION

Russia’s military invasion of Ukraine initiated in February 2022 and the economic and diplomatic responses by the United States and other countries have led to increased volatility and uncertainty in the financial markets and could continue to adversely affect

 

WisdomTree Trust      65  


Notes to Financial Statements (concluded)

 

regional and global economies for the foreseeable future. In response to Russia’s actions, the governments of the United States, the European Union, the United Kingdom, and many other countries collectively imposed heavy and broad-ranging economic sanctions on certain Russian individuals, corporate and banking entities, and other industries and businesses. The sanctions restrict companies from doing business with Russia and Russian companies, prohibit transactions with the Russian central bank and other key Russian financial institutions and entities, ban Russian airlines and ships from using many other countries’ airspace and ports, respectively, and place a freeze on certain Russian assets. The sanctions also removed some Russian banks from the Society for Worldwide Interbank Financial Telecommunications (SWIFT), the electronic network that connects banks globally to facilitate cross-border payments. In addition, the United States has banned oil and other energy imports from Russia, as well as other popular Russian exports, such as diamonds, seafood and vodka. The European Union, the United Kingdom and other countries have also placed restrictions on certain oil, energy and luxury good imports from Russia.

These sanctions, as well as other economic consequences related to the invasion, such as additional sanctions, boycotts, changes in consumer or purchaser preferences, or cyberattacks on governments, companies or individuals, may further decrease the value and liquidity of certain Russian securities as well as securities of issuers in other countries that are subject to or otherwise adversely affected by economic sanctions related to Russia’s invasion of Ukraine, including Russian counter measures. To the extent a Fund has exposure to Russian investments or investments in countries affected by the invasion or the sanctions, the Fund’s ability to price, buy, sell, receive or deliver, or receive dividends and interest payments on such investments may be impaired. In certain circumstances, such as when there is no market for a security or other means of valuing or disposing of a security, a Fund may determine to value the affected security at zero. In addition, any exposure a Fund may have to counterparties in Russia or in countries affected by the invasion could negatively affect the Fund’s portfolio. The extent and duration of Russia’s military actions and the repercussions of such actions are impossible to predict, but could result in continued significant market disruptions, including in the oil and natural gas markets, and may negatively affect global supply chains, inflation and global growth. Further, an escalation of the military conflict beyond Ukraine’s borders could result in significant, long-lasting damage to the economies of Eastern and Western Europe as well as the global economy. These and any related events could significantly and adversely affect a Fund’s performance and the value of an investment in the Fund, even in the absence of direct exposure to Russian issuers or issuers in other countries affected by the invasion.

*  *  *  *  *  *

Financial markets around the world may experience extreme volatility, depressed valuations, decreased liquidity and heightened uncertainty and turmoil resulting from major cybersecurity events, geopolitical events (including wars, such as Russia’s invasion of Ukraine, terror attacks, and disruptions to foreign economic and trade relationships), public health emergencies, such as the COVID-19 pandemic, measures to address budget deficits, downgrading of sovereign debt, and public sentiment, among other events. Resulting market volatility, dramatic changes to interest rates, and otherwise unfavorable economic conditions may negatively impact Fund performance or impair a Fund’s ability to achieve its investment objective.

In March 2023, the financial distress of certain financial institutions raised economic concerns over disruption in the U.S. banking system and regarding the solvency of certain financial services firms. There can be no certainty that the actions taken by the

U.S. government to strengthen public confidence in the U.S. banking system will be effective in mitigating the effects of financial institution failures on the economy and restoring public confidence in the U.S. banking system.

 

66   WisdomTree Trust


Report of Independent Registered Public Accounting Firm

 

To the Shareholders of WisdomTree Europe Hedged Equity Fund, WisdomTree Europe Hedged SmallCap Equity Fund, WisdomTree Germany Hedged Equity Fund, WisdomTree International Hedged Quality Dividend Growth Fund, WisdomTree Japan Hedged Equity Fund and WisdomTree Japan Hedged SmallCap Equity Fund, and the Board of Trustees of WisdomTree Trust

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities of WisdomTree Europe Hedged Equity Fund, WisdomTree Europe Hedged SmallCap Equity Fund, WisdomTree Germany Hedged Equity Fund, WisdomTree International Hedged Quality Dividend Growth Fund, WisdomTree Japan Hedged Equity Fund and WisdomTree Japan Hedged SmallCap Equity Fund (collectively referred to as the “Funds”), (six of the funds constituting WisdomTree Trust (the “Trust”)), including the schedules of investments, as of March 31, 2023, and the related statements of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds (six of the funds constituting WisdomTree Trust) at March 31, 2023, the results of their operations for the year then ended, the changes in their net assets for each of the two years in the period then ended and their financial highlights for each of the five years in the period then ended, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements are the responsibility of the Trust’s management. Our responsibility is to express an opinion on each of the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust’s internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of March 31, 2023, by correspondence with the custodian, brokers and others; when replies were not received from brokers, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

 

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We have served as the auditor of one or more WisdomTree investment companies since 2006.

New York, New York

May 30, 2023

 

WisdomTree Trust      67  


Liquidity Risk Management Program (unaudited)

 

The Funds adopted a liquidity risk management program (the “Program”) pursuant to the requirements of Rule 22e-4 (the “Rule”) under the Investment Company Act of 1940, as amended. The Rule requires registered open-end funds, including exchange-traded funds such as the Funds, to establish liquidity risk management programs in order to effectively manage fund liquidity and shareholder redemptions. The Rule is designed to mitigate the risk that a Fund could not meet redemption requests without significantly diluting the interest of remaining investors. The Board has appointed WisdomTree Asset Management, Inc., the investment advisor to the Funds, as the Program Administrator for each Fund’s Program.

The Rule requires the Funds to assess, manage and review their liquidity risk at least annually considering applicable factors such as investment strategy and liquidity during normal and foreseeable stressed conditions, including whether the strategy is appropriate for an open-ended fund and whether the Fund has a relatively concentrated portfolio or large positions in particular issuers. The Funds must also assess their use of borrowings and derivatives, short-term and long-term cash flow projections in normal and stressed conditions, holdings of cash and cash equivalents, and borrowing arrangements and other funding sources.

The Rule also requires the Funds to classify their investments into one of four liquidity categories: highly liquid, moderately liquid, less liquid or illiquid based on the number of days a Fund expects it would take to liquidate the investment, and to review these classifications at least monthly or more often under certain conditions. The periods range from three or fewer business days for a highly liquid investment to greater than seven calendar days for settlement of a less liquid investment. Illiquid investments are those a Fund does not expect to be able to sell or dispose of within seven calendar days without significantly changing the market value of the investment. A Fund is prohibited from acquiring an investment if, after the acquisition, its holdings of illiquid assets will exceed 15% of its net assets. In addition, if a Fund permits redemptions in-kind, the Rule requires the Fund to establish redemption in-kind policies and procedures governing how and when it will engage in such redemptions.

Pursuant to the Rule’s requirements, the Program has been reviewed and approved by the Fund’s Board. Furthermore, the Board has received a written report prepared by the Program Administrator that addresses the operation of the Program, assesses its adequacy and effectiveness and describes any material changes made to the Program. The Program Administrator has monitored the Fund’s liquidity risk and the liquidity classifications of the securities held by the Fund and has determined that the Program is operating effectively.

During the period from January 1, 2022 to December 31, 2022, there were no material changes to the Program and no material liquidity events that impacted the Funds. During the period, the Funds held sufficient highly liquid assets to meet fund redemptions.

Under normal expected foreseeable Fund redemption forecasts and foreseeable stressed Fund redemption forecasts, the Program Administrator believes that the Funds maintain sufficient highly liquid assets to meet Fund redemptions.

 

68   WisdomTree Trust


Trustees and Officers Information (unaudited)

 

Name

and Year of Birth
of Trustee/Officer

 

Position(s) Held with

the Trust, Term of

Office and Length
of Time Served

 

Principal Occupation(s)

During Past 5 Years

  Number of Portfolios
in Fund Complex
Overseen by Trustee/
Officer+
   

Other

Directorships

Held by Trustee

Trustees Who Are Interested Persons of the Trust

Jonathan Steinberg
(1964)
  Trustee, 2005- present; President, 2005-present   Chief Executive Officer, WisdomTree and WisdomTree Asset Management since 2005; President, WisdomTree and WisdomTree Asset Management from 2012 to 2019.     80     Director, WisdomTree and WisdomTree Asset Management.

Trustees Who Are Not Interested Persons of the Trust

David G. Chrencik*
(1948)
  Trustee, 2014-present   Chief Financial Officer of Sarus Indochina Select LP (hedge fund) since 2012; Chief Financial Officer of GeoGreen BioFuels, Inc. (biodiesel fuel producer) from 2010 to 2014; Audit Partner at PricewaterhouseCoopers LLP (public accounting firm) from 1972 to 2009 (includes positions prior to becoming Audit Partner and predecessor firms).     80     None
Joel Goldberg**, ***
(1945)
  Trustee, 2012-present   Attorney, Partner at Stroock & Stroock & Lavan LLP from 2010 to 2018; Attorney, Partner at Willkie Farr & Gallagher LLP from 2006 to 2010.     80     Director, Better Business Bureau (Metropolitan New York, Long Island and the Mid-Hudson Region).
Toni Massaro***
(1955)
  Trustee, 2006-present   Dean Emerita at the University of Arizona James E. Rogers College of Law (“Rogers College of Law”) since 2009 (distinguished Emerita in July 2009); Dean of the Rogers College of Law from 1999 to 2009; Regents’ Professor since 2006; Milton O. Riepe Chair in Constitutional Law since 1997; Professor at the Rogers College of Law since 1990.     80     None

Melinda A. 
Raso Kirstein****

(1955)

  Trustee, 2014-present   Retired since 2004, Merrill Lynch Investment Management, Vice President; Senior Portfolio Manager, Fixed Income Management; Director, Tax Exempt Fund Management.     80     Associate Alumnae of Douglass College, Chair of Investment Committee.
Victor Ugolyn
(1947)
  Trustee, 2006-present; Chairman of the Board, 2006-present   Private Investor, from 2005 to present; President and Chief Executive Officer of William D. Witter, Inc. from 2005 to 2006; Consultant to AXA Enterprise in 2004; Chairman, President and Chief Executive Officer of Enterprise Capital Management (subsidiary of The MONY Group, Inc.) and Enterprise Group of Funds, Chairman of MONY Securities Corporation, and Chairman of the Fund Board of Enterprise Group of Funds from 1991 to 2004.     80     None

 

WisdomTree Trust      69  


Trustees and Officers Information (unaudited) (concluded)

 

Name

and Year of Birth
of Trustee/Officer

 

Position(s) Held with

the Trust, Term of

Office and Length
of Time Served

 

Principal Occupation(s)

During Past 5 Years

  Number of Portfolios
in Fund Complex
Overseen by Trustee/
Officer+
   

Other

Directorships

Held by Trustee

Officers of the Trust

Jonathan Steinberg*****

(1964)

 

President, 2005-

present; Trustee, 2005-present

  Chief Executive Officer, WisdomTree and WisdomTree Asset Management since 2005; President, WisdomTree and WisdomTree Asset Management from 2012 to 2019.     80     See Interested
Trustees Table
Above.

David Castano*****

(1971)

  Treasurer, 2013-present   Head of Fund Accounting & Administration, WisdomTree Asset Management, since 2020; Director of Fund Accounting & Administration, Wisdom Tree Asset Management, 2011 to 2020.     80     None

Terry Jane Feld*****

(1960)

  Chief Compliance Officer, 2012-present   Head of U.S. Compliance, WisdomTree Asset Management since 2022; Chief Compliance Officer WisdomTree Asset Management since 2012.     80     None

Joanne Antico*****

(1975)

  Chief Legal Officer and Secretary, 2021-present   General Counsel, WisdomTree Asset Management since 2021; Assistant General Counsel, WisdomTree Asset Management 2016 to 2021; Executive Director and Assistant Secretary, Morgan Stanley Investment Management Inc., 2005 to 2016.     80     None

TJ Darnowski *****

(1984)

  Assistant Secretary, 2021-present   Senior Investment Management Paralegal, WisdomTree Asset Management since 2021; Senior Legal Administrator, Ultimus Fund Solutions, 2019-2021; Assistant Vice President, State Street Bank & Trust Company, 2010 to 2019.     80     None

Clint Martin*****

(1977)

  Assistant Treasurer, 2015-present   Director of Fund Accounting & Administration, WisdomTree Asset Management, since 2020; Fund Manager, Fund Accounting & Administration, WisdomTree Asset Management, 2012 to 2020.     80     None

Angela Borreggine*****

(1964)

  Assistant Secretary, 2021-present   Assistant General Counsel, WisdomTree Asset Management since 2022; Vice President and Senior Counsel, Virtus Investment Partners, 2021-2022; Director, Senior Counsel, Allianz Global Investors, 2007-2021.     80     None

 

+

As of March 31, 2023.

 

*

Chair of the Audit Committee.

 

**

Chair of the Contracts Review Committee.

 

***

Co-Chair of the Governance, Nominating and Compliance Committee.

 

****

Chair of the Investment Committee.

 

*****

Elected by and serves at the pleasure of the Board.

 

70   WisdomTree Trust


Supplemental Information (unaudited)

 

Federal Income Tax Information

The following Federal tax information related to the Funds’ fiscal year ended March 31, 2023, is provided for information purposes only and should not be used for reporting to federal or state revenue agencies. Federal tax information for the calendar year will be reported to you on Form 1099-DIV in January 2024.

Certain dividends paid by the Funds may be subject to a maximum tax rate of 15%, as provided by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Of the distributions paid during the fiscal year ended March 31, 2023, the following represents the maximum amount of ordinary income distributions that may be considered qualified dividend income:

 

   
Fund    Qualified Dividend
Income
 

Europe Hedged Equity Fund

   $ 35,259,183  

Europe Hedged SmallCap Equity Fund

     2,123,398  

Germany Hedged Equity Fund

     889,504  

International Hedged Quality Dividend Growth Fund

     43,373,545  

Japan Hedged Equity Fund

     58,965,276  

Japan Hedged SmallCap Equity Fund

     630,408  

The Funds intend to elect to pass through to shareholders the credit for taxes paid to foreign countries during the fiscal year ended March 31, 2023. The gross foreign source income and foreign taxes paid are as follows:

 

     
Fund    Gross Foreign
Income
     Foreign Taxes
Paid
 

Europe Hedged Equity Fund

   $ 39,525,089      $  

Europe Hedged SmallCap Equity Fund

     2,648,068        246,126  

Germany Hedged Equity Fund

     989,108        156,963  

International Hedged Quality Dividend Growth Fund

     43,481,671        2,922,364  

Japan Hedged Equity Fund

     61,380,456        6,061,139  

Japan Hedged SmallCap Equity Fund

     692,233        91,314  

 

WisdomTree Trust      71  


General Information (unaudited)

 

Proxy Voting Policies, Procedures and Record

A complete copy of the Proxy Voting Policy may be obtained upon request, at no charge, by calling 1-866-909-WISE (9473) or writing to: WisdomTree Trust, c/o Foreside Fund Services, LLC, Three Canal Plaza Suite 100, Portland, ME, 04101.

The Trust is required to disclose annually the Funds’ complete proxy voting record on Form N-PX covering the most recent 12-month period ended June 30 and to file Form N-PX with the SEC no later than August 31 of each year. The current Form N-PX for the Funds is available at no charge upon request by calling 1-866-909-WISE (9473) or through the SEC’s website at www.sec.gov.

Shareholder Reports and Quarterly Portfolio Disclosure

The Funds file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters as an exhibit to their reports on Form N-PORT. Copies of the filings are available, without charge, on the SEC’s website at www.sec.gov and are also available by calling the Trust at 1-866-909-WISE (9473). Copies of the filings may also be obtained, after paying a duplicating fee, by electronic request at the following E-mail address: publicinfo@sec.gov.

Information about each Fund’s portfolio holdings is available daily, without charge, at www.wisdomtree.com/investments.

The Statement of Additional Information (“SAI”) has additional information about the Funds’ Trustees and Officers and is available without charge upon request. Contact your financial representative for a free prospectus or SAI.

Frequency Distribution of Discounts & Premiums

Information about differences between the per share net asset value of each Fund and the market trading price of shares of each Fund are available, without charge, at www.wisdomtree.com/investments.

 

72   WisdomTree Trust


The WisdomTree Funds are exchange traded funds (“ETFs”) registered with the United States Securities and Exchange Commission as separate series (“Funds”) of WisdomTree Trust (“Trust”). WisdomTree Asset Management, Inc., a wholly owned subsidiary of WisdomTree, Inc., serves as the investment adviser to the Trust. None of the WisdomTree entities are affiliated with Foreside Fund Services, LLC, the Funds’ distributor. WisdomTree, Inc., its affiliates and their independent providers are not liable for any informational errors, incompleteness, delays, or for any actions taken in reliance on information contained herein.

There are risks associated with investing including possible loss of principal. Foreign investing involves special risks, such as risk of loss from currency fluctuation or political or economic uncertainty. Investments in real estate involve additional special risks, such as credit risk, interest rate fluctuations and the effect of varied economic conditions. Funds that focus their investments in one country or region may be significantly impacted by events and developments associated with the region which can adversely affect performance. Funds focusing on a single sector and/or smaller companies generally experience greater price volatility. Investments in emerging, offshore or frontier markets are generally less liquid and less efficient than investments in developed markets and are subject to additional risks, such as risks of adverse governmental regulation and intervention or political developments. Investments in currency involve additional special risks, such as credit risk and interest rate fluctuations. Derivative investments can be volatile and these investments may be less liquid than other securities, and more sensitive to the effect of varied economic conditions. As these Funds can have a high concentration in some issuers the Funds can be adversely impacted by changes affecting such issuers. Due to the investment strategy of certain Funds they may make higher capital gain distributions than other ETFs. Please read the Fund’s prospectus for specific details regarding the Fund’s risk profile.

Indexes are unmanaged and you cannot invest directly in an index.

Transactions in Fund shares will result in brokerage commissions and will generate tax consequences. Shares may be sold through brokerage accounts, but may be redeemed from the Funds by Authorized Participants in large creation unit sizes of shares.

This report is intended for the Funds’ shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.


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WisdomTree Fund shares are distributed by Foreside Fund Services, LLC, in the U.S.

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WisdomTree Trust

Annual Report

March 31, 2023

 

WisdomTree China ex-State-Owned Enterprises Fund (CXSE)

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE)

WisdomTree Emerging Markets High Dividend Fund (DEM)

WisdomTree Emerging Markets Multifactor Fund (EMMF)

WisdomTree Emerging Markets Quality Dividend Growth Fund (DGRE)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL)

WisdomTree Global High Dividend Fund (DEW)

WisdomTree Growth Leaders Fund (PLAT)

WisdomTree India Earnings Fund (EPI)

WisdomTree India ex-State-Owned Enterprises Fund (IXSE)

WisdomTree New Economy Real Estate Fund (WTRE)

(formerly, WisdomTree Global ex-U.S. Real Estate Fund (DRW))


Table of Contents

 

Market Environment Overview (unaudited)

       1  

Information about Performance and Shareholder Expense Examples (unaudited)

       3  

Management’s Discussion of Funds’ Performance (unaudited)

       4  

Description of Terms and Indexes (unaudited)

       16  
Schedules of Investments     

WisdomTree China ex-State-Owned Enterprises Fund

       20  

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund

       24  

WisdomTree Emerging Markets High Dividend Fund

       31  

WisdomTree Emerging Markets Multifactor Fund

       37  

WisdomTree Emerging Markets Quality Dividend Growth Fund

       41  

WisdomTree Emerging Markets SmallCap Dividend Fund

       46  

WisdomTree Global ex-U.S. Quality Dividend Growth Fund

       57  

WisdomTree Global High Dividend Fund

       62  

WisdomTree Growth Leaders Fund

       70  

WisdomTree India Earnings Fund (consolidated)

       72  

WisdomTree India ex-State-Owned Enterprises Fund

       78  

WisdomTree New Economy Real Estate Fund

       81  

Statements of Assets and Liabilities

       83  

Statements of Operations

       86  

Statements of Changes in Net Assets

       89  

Financial Highlights

       93  

Notes to Financial Statements

       99  

Report of Independent Registered Public Accounting Firm

       116  

Liquidity Risk Management Program (unaudited)

       118  

Trustees and Officers Information (unaudited)

       119  

Supplemental Information (unaudited)

       121  

General Information (unaudited)

       123  

 

“WisdomTree” is a registered mark of WisdomTree, Inc. (formerly, WisdomTree Investments, Inc.) and is licensed for use by the WisdomTree Trust.


Market Environment Overview

(unaudited)

 

Global equity markets, as measured by the MSCI All Country World Index (ACWI), lost 7.44% in U.S. dollar (USD) terms for the 12-month fiscal period ending March 31, 2023 (the “period”). Emerging markets (EM) (measured by the MSCI Emerging Markets Index) fell 10.70% in USD terms.

Most global currencies steadily weakened versus the USD during the period. Among EM currencies, the Chinese yuan renminbi weakened by 7.76% relative to the USD. The Indian rupee, Brazilian real, South Korean won, and Taiwanese dollar all weakened between 6-8% each. Other currencies suffered even more, including the South African rand, Turkish lira, and Argentine peso, which weakened by 18%, 24% and 47%, respectively. Ironically, one of the best performers (and one of only three significant EM currencies to strengthen against the USD) was the Russian ruble, which strengthened by 4.5% despite ongoing global sanctions and embargoes due to its invasion of Ukraine in early 2022.

Global equities generally struggled during the period, as most regions confronted economic challenges resulting from record monetary and fiscal stimulus introduced to support the post-pandemic recovery. Central banks worldwide were forced to raise interest rates at various intervals to combat skyrocketing inflation, beginning with the U.S. Federal Reserve, European Central Bank, and more. EM followed suit, though to varying degrees as each region encountered idiosyncratic issues that diverged their policy pathways.

The first quarter of the period (from March to June 2022), was the most challenging for global and EM equity indexes. The MSCI ACWI and MSCI EM indexes sunk -15.66% and -11.45%, respectively, in USD terms. Inflation began to rise in earnest at this point during 2022, with many year-over-year indicators around the world above 6%, and well above central bank expectations. The economic growth outlook was mixed during the period, as certain EM economies managed to grow while other prominent, developed market economies either stagnated or contracted. China, the largest allocation within most EM indexes, contracted 2.4% quarter-over-quarter.

The second quarter of the period didn’t show much improvement from the first quarter. Global equities fell approximately 7% in USD terms, while the selloff in EM was more pronounced, falling over 11.5%. Many regions began to experience peak inflation at this point, which cemented the global monetary policy trajectory for the near future. More interest rate hikes would be needed to combat inflation, and central banks continued to do so. Global and EM equities remained under constant pressure as a result. China’s economy bounced back by approximately 4% during the June to September quarter.

Global equities regained their footing heading into the third quarter of the period and the final quarter of 2022, returning 9.76% in USD terms. EM followed suit, returning 9.7% in USD terms. As disinflationary pressures became evident, many investors became encouraged that the end of policy tightening was in sight, which encouraged the possibility of a soft economic landing around the world. EM specifically also benefited from the surprise announcement in the fall that China would be suspending its COVID Zero policy, thereby formally “reopening” its economy. On these revived growth prospects, Chinese equities rallied, which spread to EM as the largest allocation within most EM indexes. Despite this, Chinese economic growth was flat to end the year.

Optimistic sentiment prevailed to the end of the year and persisted into the first quarter of 2023. Global equities returned 7.31% and EM returned just under 4%, both in USD terms. Economic data releases seemed to confirm ongoing disinflationary pressures, which supported investors’ sentiments that the end of interest rate hikes were in sight. Notably, markets confronted the threat of a banking crisis in the U.S. that, at one point, threatened the global banking system via contagion. This fear was quickly dispelled as the failing banks were isolated and equities resumed their upward trajectory that characterized much of the first quarter. Global economic growth for the first quarter of 2023 remained positive.

 

WisdomTree Trust      1  


Market Environment Overview

(unaudited) (concluded)

 

 

Entering the new fiscal year, many of these risk factors remain paramount, and global financial market performance will be heavily dependent on the ongoing fight against inflation around the world and what it means for central bank policy rate paths. A secondary factor to watch will be the health of the global banking sector and whether there are any more existential threats that have yet to be uncovered.

Each WisdomTree Fund’s performance as set forth in “Management’s Discussion of Funds’ Performance” in the pages that follow should also be viewed in light of the foregoing market environment.

 

2   WisdomTree Trust


Information about Performance and Shareholder Expense Examples (unaudited)

Performance

The performance tables on the following pages are provided for comparative purposes and represent the period noted. Each Fund’s per share net asset value (“NAV”) is the value of one share of the Fund and is calculated by dividing the value of total assets less total liabilities by the number of shares outstanding. The NAV return is based on the NAV of the Fund and the market price return is based on the market price per share of the Fund. The price used to calculate market price returns is the midpoint of the bid and ask price for Fund shares as of the close of trading on the exchange where Fund shares are listed. NAV and market price returns assume that dividends and capital gain distributions have been reinvested in the Fund at NAV and market price, respectively. As with other exchange traded funds (“ETFs”), NAV returns and market price returns may differ because of factors such as the supply and demand for Fund shares and investors’ assessments of the underlying value of a Fund’s portfolio securities.

Fund shares are bought and sold at market price (not NAV) and are not individually redeemed from a Fund. Fund NAV returns are calculated using a Fund’s daily 4:00 p.m. eastern time NAV. Market price returns reflect the midpoint of the bid and ask price as of the close of trading on the exchange where Fund shares are listed. Market price returns do not represent the returns you would receive if you traded shares at other times. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Total returns for a period of less than one year are cumulative.

Performance is historical and does not guarantee future results. Current performance may be lower or higher than quoted. Investment returns and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. For the most recent month-end performance information visit www.wisdomtree.com/investments.

An index is a statistical measure of a specified financial market or sector. An index does not actually hold a portfolio of securities, incur expenses or pay any transaction costs. Therefore, index returns do not reflect deductions for fees or expenses and an index is not available for direct investment. In comparison, the Funds’ performance is negatively impacted by these deductions. Fund returns do not reflect brokerage commissions or taxes on transactions in Fund shares or taxes that a shareholder would pay on Fund distributions. Past performance is no guarantee of future results.

Shareholder Expense Examples

Each Fund’s performance table is accompanied by a shareholder expense example. As a shareholder of a WisdomTree Fund, you incur two types of cost: (1) transaction costs, including brokerage commissions on purchases and sales of your Fund shares and (2) ongoing costs, including management fees and other Fund expenses. The examples are intended to help you understand your ongoing costs (in dollars and cents) of investing in a Fund and to compare these costs with the ongoing costs of investing in other funds.

The examples are based on an investment of $1,000 invested at the beginning of the period and held for the entire period from October 1, 2022 to March 31, 2023. Except where noted, expenses are calculated using each Fund’s annualized expense ratio (after the effect of contractual or voluntary fee waivers, if any), multiplied by the average account value for the period, multiplied by 182/365 (to reflect the one-half year period). The annualized expense ratio does not include acquired fund fees and expenses (“AFFEs”), which are fees and expenses incurred indirectly by a Fund through its investments in certain underlying investment companies.

Actual expenses

The first line in the shareholder expense example table shown on the following pages provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line for your Fund under the heading entitled “Expenses Paid During the Period” to estimate the expenses you paid on your account during the period.

Hypothetical example for comparison purposes

The second line in the shareholder expense example table shown on the following pages provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in your Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as brokerage commissions paid on purchases and sales of Fund shares. Therefore, the second line in the table is useful in comparing ongoing Fund costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

 

WisdomTree Trust      3  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree China ex-State-Owned Enterprises Fund (CXSE)

 

Sector Breakdown

 

Sector   % of Net Assets  

Consumer Discretionary

    34.4%  

Health Care

    13.2%  

Information Technology

    12.4%  

Industrials

    9.0%  

Financials

    8.7%  

Communication Services

    7.6%  

Consumer Staples

    5.8%  

Real Estate

    4.0%  

Materials

    3.7%  

Utilities

    1.2%  

Energy

    0.0%

Other Assets less Liabilities‡

    0.0%

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

 

*

Represents less than 0.1%.

Top Ten Holdings*

 

Description   % of Net Assets  

Alibaba Group Holding Ltd.

    10.6%  

Meituan, Class B

    5.0%  

Ping An Insurance Group Co. of China Ltd., Class H

    4.3%  

NetEase, Inc.

    3.5%  

JD.com, Inc., Class A

    3.0%  

Wuxi Biologics Cayman, Inc.

    2.4%  

PDD Holdings, Inc., ADR

    2.4%  

Contemporary Amperex Technology Co. Ltd., Class A

    2.3%  

Ping An Insurance Group Co. of China Ltd., Class A

    1.9%  

Kuaishou Technology

    1.7%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree China ex-State-Owned Enterprises Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree China ex-State-Owned Enterprises Index (the “Index”). In seeking to track the Index, the Fund invests in Chinese companies that are not state-owned enterprises(“SOEs”), which is defined as government ownership of greater than 20%. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -13.72% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in the Financials and Utilities sectors, largely due to positive stock selection within each sector. All other sectors (except for Consumer Discretionary, which was negligible), weighed on performance during the period, as part of a broader struggle for the Chinese equity market. For much of the period, China was committed to its COVID Zero policy, which hampered economic growth. Simultaneously, other policies and domestic agendas set by the Chinese Communist Party were not “business-friendly”, which weighed on sentiment in the sizable Information Technology and Communication Services sectors, two significant drivers of economic growth. Both of these positions weighed on Fund performance due to a mix of poor stock selection and allocation effects. As of March 31, 2023, the COVID Zero policy has been abandoned, so business prospects for many of the previous year’s sector laggards and China as a whole may benefit from the change. SOEs outperformed at the expense of non-SOEs during the period as well, and the lack of exposure to SOEs detracted from the Fund’s performance.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,102.50        0.32   $ 1.68  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.34        0.32   $ 1.61  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year          10 Year      

Fund NAV Returns

       -13.72      -2.24      -3.36      4.57

Fund Market Price Returns

       -12.45      -2.24      -3.67      4.51

WisdomTree China Dividend ex-Financials/China ex-State-Owned Enterprises Spliced Index1

       -13.20      -1.93      -3.53      4.90

MSCI China Index

       -4.73      -2.64      -4.01      3.38

FTSE China 50 Index

       -6.77      -4.96      -5.77      1.08
1 

WisdomTree China Dividend ex-Financials Index through June 30, 2015; WisdomTree China ex-State-Owned Enterprises Index thereafter.

 

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

4   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    22.9%  

Consumer Discretionary

    20.9%  

Financials

    14.9%  

Communication Services

    8.1%  

Consumer Staples

    7.6%  

Materials

    7.4%  

Industrials

    6.8%  

Health Care

    5.6%  

Energy

    2.9%  

Real Estate

    1.7%  

Utilities

    1.0%  

Other Assets less Liabilities‡

    0.2%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Taiwan Semiconductor Manufacturing Co. Ltd.

    6.6%  

Alibaba Group Holding Ltd.

    4.4%  

Samsung Electronics Co. Ltd.

    4.2%  

Meituan, Class B

    2.1%  

Reliance Industries Ltd., GDR

    2.0%  

Infosys Ltd., ADR

    1.3%  

Al Rajhi Bank

    1.3%  

JD.com, Inc., Class A

    1.2%  

ICICI Bank Ltd., ADR

    1.2%  

NetEase, Inc.

    1.1%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Emerging Markets ex-State-Owned Enterprises Index (the “Index”). In seeking to track the Index, the Fund invests in emerging market companies that are not state-owned enterprises, which is defined as government ownership of more than 20%. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -14.20% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from positions in the Information Technology sector primarily due to stock selection. All other sectors either had a negligibly positive effect, or an outright negative effect. Communication Services was the biggest detractor from performance due to poor stock selection. Emerging markets (EM) as a region struggled during the fiscal year, as risk-off sentiment around the world deterred investor appetite for the asset class. Individual country effects from countries that comprise larger allocations compounded the poor performance. As the largest position in the EM universe, China weighed negatively on performance the most, as its commitment to the COVID Zero policy and other non-business-friendly policies hampered economic growth and business prospects for important sectors. Poor stock selection within China weighed negatively on Fund performance more than any country component during the period. Other countries had modestly positive effects, but not enough to offset the pressure from China and other regions that had their own idiosyncratic issues (such as political regime changes in Brazil). State-owned enterprises (SOEs) outperformed at the expense of non-SOEs during the period as well, and the lack of exposure to SOEs detracted from the Fund’s performance.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,116.10        0.32   $ 1.69  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.34        0.32   $ 1.61  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      Since Inception1  

Fund NAV Returns

       -14.20      6.11      -1.07      3.23

Fund Market Price Returns

       -12.89      6.21      -1.28      3.35

WisdomTree Emerging Markets ex-State-Owned Enterprises Index

       -14.06      6.87      -0.58      4.11

MSCI Emerging Markets Index

       -10.70      7.83      -0.91      2.80
1 

Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on December 10, 2014.

 

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      5  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree Emerging Markets High Dividend Fund (DEM)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    25.0%  

Materials

    21.8%  

Information Technology

    19.9%  

Energy

    15.0%  

Industrials

    4.1%  

Utilities

    4.0%  

Real Estate

    2.9%  

Consumer Staples

    2.5%  

Communication Services

    2.2%  

Consumer Discretionary

    1.5%  

Health Care

    0.4%  

Investment Company

    0.1%  

Other Assets less Liabilities‡

    0.6%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Vale SA

    5.8%  

MediaTek, Inc.

    4.2%  

China Construction Bank Corp., Class H

    3.2%  

Petroleo Brasileiro SA

    3.1%  

Industrial & Commercial Bank of China Ltd., Class H

    2.2%  

Nan Ya Plastics Corp.

    2.1%  

China Steel Corp.

    1.9%  

Bank of China Ltd., Class H

    1.9%  

Hon Hai Precision Industry Co. Ltd.

    1.8%  

POSCO Holdings, Inc.

    1.7%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Emerging Markets High Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Emerging Markets High Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in high-dividend-yielding companies in the emerging markets region. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -6.97% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from positive stock selection primarily within Information Technology, Energy, and Financials. An underweight allocation in Information Technology during a period of high interest rates worldwide also provided a strong allocation effect, as higher interest rates tend discount the value of technology shares more severely than other sectors. Positions in the Real Estate and Materials sectors weighed negatively on Fund performance due to a mix of both poor stock selection and allocation effects. These two cyclical sectors struggled under the pressure of rising interest rates and increasing fears of recession. Taiwan and India were the two strongest country positions during the period, due to a mix of allocation and stock selection impacts in both countries. China and South Africa weighed negatively on performance, especially as the Chinese region continued to combat COVID-19 with non-business-friendly economic policies, that hampered growth. The Fund’s emphasis on emerging market equities that pay large dividends was additive in the rising interest rate environment. Overweighting larger dividend-payers and underweighting lower dividend-payers was universally additive, with stock selection compounding the effect in most quintiles.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Net
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,166.00        0.63   $ 3.40  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,021.79        0.63   $ 3.18  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio, actual and hypothetical expenses paid during the period would have been unchanged.

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year          10 Year      

Fund NAV Returns

       -6.97      12.11      1.20      1.21

Fund Market Price Returns

       -6.31      12.49      1.03      1.19

WisdomTree Emerging Markets High Dividend Index

       -7.01      13.28      2.11      2.14

MSCI Emerging Markets Index

       -10.70      7.83      -0.91      2.00

MSCI Emerging Markets Value Index

       -9.44      10.04      -1.15      0.69

 

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

6   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree Emerging Markets Multifactor Fund (EMMF)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    21.7%  

Information Technology

    18.3%  

Consumer Discretionary

    10.9%  

Consumer Staples

    9.2%  

Industrials

    9.1%  

Communication Services

    7.2%  

Health Care

    6.9%  

Energy

    6.0%  

Materials

    5.7%  

Utilities

    4.0%  

Real Estate

    1.1%  

Other Assets less Liabilities‡

    -0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Taiwan Semiconductor Manufacturing Co. Ltd.

    3.7%  

Tencent Holdings Ltd.

    1.4%  

Lenovo Group Ltd.

    1.2%  

Samsung Electronics Co. Ltd.

    1.1%  

PICC Property & Casualty Co. Ltd., Class H

    1.0%  

Far EasTone Telecommunications Co. Ltd.

    1.0%  

China CITIC Bank Corp. Ltd., Class H

    1.0%  

Daqo New Energy Corp., ADR

    1.0%  

PetroChina Co. Ltd., Class H

    1.0%  

Bank of China Ltd., Class H

    1.0%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Emerging Markets Multifactor Fund (the “Fund”) seeks capital appreciation by investing in equity securities of emerging markets countries with the highest composite scores based on two fundamental factors, value and quality measures, and two technical factors, momentum and correlation.

The Fund returned -5.74% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its exposures to the Consumer Discretionary and Financials sectors, primarily due to stock selection. The Fund’s performance was negatively impacted by stock selection in the Information Technology and Health Care sectors. The Fund’s performance was also negatively impacted by allocations to Chinese stocks, which faced significant downward pressure, including the government’s zero-COVID rules and heightened geopolitical tensions with the U.S. and Europe. The Fund saw some benefit in its underweight to companies with zero dividend yields, which returned close to -20% over the period. The overall strength of the U.S. dollar compared to other currencies improved Fund returns during the year, as it is hedged against movements in foreign currencies.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,111.40        0.48   $ 2.53  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.54        0.48   $ 2.42  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      Since Inception1  

Fund NAV Returns

       -5.74      9.59      -0.33

Fund Market Price Returns

       -4.63      9.82      -0.20

MSCI Emerging Markets Index

       -10.70      7.83      0.82
1 

Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on August 10, 2018.

 

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      7  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree Emerging Markets Quality Dividend Growth Fund (DGRE)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    24.7%  

Materials

    15.9%  

Consumer Staples

    9.7%  

Consumer Discretionary

    9.5%  

Financials

    8.9%  

Communication Services

    8.4%  

Health Care

    6.5%  

Industrials

    6.3%  

Energy

    5.8%  

Utilities

    3.0%  

Real Estate

    1.2%  

Other Assets less Liabilities‡

    0.1%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Tencent Holdings Ltd.

    6.4%  

Taiwan Semiconductor Manufacturing Co. Ltd.

    6.3%  

Samsung Electronics Co. Ltd.

    3.5%  

Infosys Ltd.

    1.2%  

ANTA Sports Products Ltd.

    1.1%  

Vale SA

    1.1%  

Grupo Bimbo SAB de CV, Series A

    1.0%  

Zhongsheng Group Holdings Ltd.

    0.9%  

ENN Energy Holdings Ltd.

    0.9%  

Tata Consultancy Services Ltd.

    0.9%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Emerging Markets Quality Dividend Growth Fund (the “Fund”) seeks income and capital appreciation by investing in dividend-paying companies with growth characteristics in the emerging markets region.

The Fund returned -10.75% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its exposures to the Communication Services and Consumer Discretionary sectors, due to stock selection effects. The Materials sector had a negative impact on the Fund’s performance, due to both allocation and stock selection effects. The Fund’s exposure to Indian companies also put downward pressure on returns. The Fund’s overweight to emerging market companies with the highest dividends, which performed poorly during 2022, also weighed down returns.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,177.50        0.32   $ 1.74  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.34        0.32   $ 1.61  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      Since Inception1  

Fund NAV Returns

       -10.75      8.34      -0.65      1.48

Fund Market Price Returns

       -8.95      8.85      -0.61      1.36

MSCI Emerging Markets Index

       -10.70      7.83      -0.91      2.77
1 

Total returns are calculated based on the commencement of Fund trading on the NASDAQ on August 1, 2013.

 

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

8   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    19.1%  

Financials

    15.3%  

Industrials

    14.6%  

Materials

    11.4%  

Consumer Discretionary

    9.4%  

Real Estate

    6.4%  

Consumer Staples

    6.1%  

Utilities

    4.9%  

Energy

    4.6%  

Health Care

    4.2%  

Communication Services

    3.2%  

Investment Company

    0.1%  

Other Assets less Liabilities‡

    0.7%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Growthpoint Properties Ltd.

    1.2%  

Banco del Bajio SA

    1.1%  

Thungela Resources Ltd.

    1.0%  

China Galaxy Securities Co. Ltd., Class H

    0.8%  

Wistron Corp.

    0.8%  

Transmissora Alianca de Energia Eletrica SA

    0.8%  

Old Mutual Ltd.

    0.8%  

Acer, Inc.

    0.7%  

G-bits Network Technology Xiamen Co. Ltd., Class A

    0.7%  

King Yuan Electronics Co. Ltd.

    0.7%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Emerging Markets SmallCap Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Emerging Markets SmallCap Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying small-cap companies in the emerging markets region. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -9.76% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from positions in the Financials, Consumer Discretionary, and Information Technology sectors, primarily due to stock selection in each sector. Positions in Energy, Real Estate, and Materials weighed negatively on performance for the same reasons. Regionally, Turkey and India aided performance the most, due to allocation effects in the former and stock selection effects in the latter. However, South Korea weighed negatively on performance due to stock selection and South Africa detracted from performance due to allocation impacts. The Fund’s emphasis on dividend-paying small cap stocks in the Emerging Markets space was universally additive during the period, with overweights to the highest dividend-paying quintiles and underweights to the lowest dividend-paying quintiles all providing beneficial performance impacts.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,152.60        0.58   $ 3.11  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.04        0.58   $ 2.92  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       -9.76      16.64      1.26      2.64

Fund Market Price Returns

       -9.33      16.72      1.04      2.58

WisdomTree Emerging Markets SmallCap Dividend Index

       -8.84      17.95      2.34      3.65

MSCI Emerging Markets Small Cap Index

       -10.99      20.68      1.80      3.18

 

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      9  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    20.7%  

Consumer Discretionary

    17.3%  

Consumer Staples

    16.0%  

Industrials

    14.4%  

Health Care

    12.2%  

Communication Services

    7.7%  

Financials

    4.3%  

Materials

    3.2%  

Utilities

    1.2%  

Energy

    1.1%  

Real Estate

    0.9%  

Investment Company

    0.5%  

Other Assets less Liabilities‡

    0.5%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Taiwan Semiconductor Manufacturing Co. Ltd.

    8.1%  

LVMH Moet Hennessy Louis Vuitton SE

    5.3%  

Unilever PLC

    4.1%  

GSK PLC

    4.0%  

Nestle SA, Registered Shares

    3.9%  

Novo Nordisk A/S, Class B

    3.8%  

Tencent Holdings Ltd.

    3.3%  

SAP SE

    2.9%  

ASML Holding NV

    2.8%  

Infosys Ltd.

    2.2%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Global ex-U.S. Quality Dividend Growth Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Global ex-U.S. Quality Dividend Growth Index (the “Index”). In seeking to track the Index, the Fund invests in dividend-paying companies with growth characteristics in developed and emerging equity markets, excluding the U.S. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -7.53% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in Consumer Discretionary, Health Care, and Communication Services, almost entirely due to positive stock selection in each sector. Industrials and Materials weighed negatively on performance the most, due to stock selection in the former and both poor stock selection and allocation effects in the latter. Positions in France and China were additive during the period, with an underweight to China especially additive during a period when it underperformed. The United Kingdom and Australia weighed negatively on performance due to poor stock selection effects. Despite quality stocks being rewarded in the U.S. during 2022, high-quality stocks elsewhere did not have as much success during the period. The performance picture among quintiles ranked by return-on-equity was mixed for the Fund, ultimately due to stock selection effects within each quintile.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,285.00        0.43   $ 2.45  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.79        0.43   $ 2.17  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.42% and the actual and hypothetical expenses paid during the period would have been $2.41 and $2.13, respectively.

Performance

 

   
      Average Annual Total Return  
      1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

     -7.53      13.11      6.47      5.67

Fund Market Price Returns

     -6.71      13.43      6.38      5.67

WisdomTree Global ex-U.S. Quality Dividend Growth Index

     -7.55      13.76      7.07      6.31

MSCI AC World ex-USA Growth Index

     -6.35      9.49      3.36      5.08

MSCI AC World ex-USA Index

     -5.07      11.80      2.47      4.17

 

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

10   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree Global High Dividend Fund (DEW)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    24.4%  

Energy

    13.2%  

Health Care

    10.9%  

Consumer Staples

    8.3%  

Utilities

    8.2%  

Materials

    7.7%  

Information Technology

    6.4%  

Real Estate

    6.4%  

Communication Services

    5.5%  

Industrials

    4.6%  

Consumer Discretionary

    3.7%  

Investment Company

    0.2%  

Other Assets less Liabilities‡

    0.5%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Exxon Mobil Corp.

    3.9%  

AbbVie, Inc.

    2.8%  

Chevron Corp.

    2.7%  

JPMorgan Chase & Co.

    2.2%  

Philip Morris International, Inc.

    2.2%  

Pfizer, Inc.

    2.1%  

Coca-Cola Co.

    2.0%  

Merck & Co., Inc.

    1.9%  

Verizon Communications, Inc.

    1.9%  

BHP Group Ltd.

    1.7%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Global High Dividend Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Global High Dividend Index (the “Index”). In seeking to track the Index, the Fund invests in high-dividend-yielding companies in the U.S. and in developed and emerging equity markets. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -4.28% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The Fund benefited from its positions in Consumer Staples, Health Care, and Communication Services during the period, mainly due to stock selection. Positions in Real Estate and Financials, two notable payers of high dividends, weighed negatively on performance due to overweight positions during a period when both sectors struggled. Allocation effects explained the challenges within each of these sectors. Positions in the U.S. and Japan were additive due to positive stock selection, while the United Kingdom and Australia detracted modestly due to poorer stock selection impacts. The Fund’s emphasis on overweighting the highest dividend-paying companies was additive, as the first quintile of dividend-payers had a pronounced positive impact. Avoiding non-dividend-paying companies was also beneficial during the fiscal year.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,158.00        0.58   $ 3.12  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.04        0.58   $ 2.92  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio, actual and hypothetical expenses paid during the period would have been unchanged.

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       -4.28      15.45      4.34      4.70

Fund Market Price Returns

       -4.52      15.67      4.26      4.58

WisdomTree Global High Dividend Index

       -4.60      15.12      4.06      4.56

MSCI AC World Index

       -7.44      15.36      6.93      8.06

 

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      11  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree Growth Leaders Fund (PLAT)

 

Sector Breakdown

 

Sector   % of Net Assets  

Information Technology

    27.2%  

Communication Services

    22.8%  

Consumer Discretionary

    20.4%  

Financials

    17.7%  

Industrials

    6.8%  

Real Estate

    2.2%  

Health Care

    1.8%  

Consumer Staples

    1.1%  

Other Assets less Liabilities‡

    0.0%

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

 

*

Represents less than 0.1%.

Top Ten Holdings*

 

Description   % of Net Assets  

Apple, Inc.

    10.9%  

Microsoft Corp.

    10.3%  

Alphabet, Inc., Class A

    8.5%  

Amazon.com, Inc.

    6.7%  

Meta Platforms, Inc., Class A

    5.0%  

Visa, Inc., Class A

    4.3%  

MasterCard, Inc., Class A

    3.2%  

Salesforce, Inc.

    2.4%  

Alibaba Group Holding Ltd., ADR

    2.0%  

MercadoLibre, Inc.

    1.8%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree Growth Leaders Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree Growth Leaders Index (the “Index”). In seeking to track the Index, the Fund invests in high growth mid- and large-cap companies that are generating substantial revenue from a modern platform business. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -20.79% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). Fund performance was negatively affected by its concentration in growth stocks in the Consumer Discretionary, Communication Services, and Information Technology sectors, which were heavily pressured by rising real interest rates last year that posed significant challenges to these businesses. Lack of significant exposure to other sectors resulted in modestly positive, but overall negligible, allocation effects. Growth stocks tend to suffer in rising interest rate environments because their cash flows (or terminal values over an investor’s time horizon) are discounted at higher rates, resulting in lower values.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,169.00        0.20   $ 1.08  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,023.93        0.20   $ 1.01  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      Since Inception1  

Fund NAV Returns

       -20.79      7.93      4.53

Fund Market Price Returns

       -21.04      7.91      4.48

WisdomTree Growth Leaders Index

       -20.71      8.26      4.82

MSCI AC World Index

       -7.44      15.36      8.36

S&P 500® Index

       -7.73      18.60      11.75
1 

Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on May 22, 2019.

 

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

12   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree India Earnings Fund (EPI)

 

Sector Breakdown

 

Sector   % of Net Assets  

Materials

    24.7%  

Energy

    18.0%  

Financials

    16.2%  

Information Technology

    12.6%  

Utilities

    7.4%  

Industrials

    6.4%  

Consumer Discretionary

    5.3%  

Consumer Staples

    4.4%  

Health Care

    3.8%  

Communication Services

    2.6%  

Real Estate

    0.5%  

Investment Company

    0.0%

Other Assets less Liabilities‡

    -1.9%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

 

*

Represents less than 0.1%.

Top Ten Holdings*

 

Description   % of Net Assets  

Reliance Industries Ltd.

    6.9%  

Tata Steel Ltd.

    6.5%  

Infosys Ltd.

    4.5%  

ICICI Bank Ltd.

    4.5%  

Oil & Natural Gas Corp. Ltd.

    3.8%  

Tata Consultancy Services Ltd.

    3.0%  

Axis Bank Ltd.

    2.7%  

NTPC Ltd.

    2.2%  

Power Grid Corp. of India Ltd.

    2.1%  

Hindalco Industries Ltd.

    2.1%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree India Earnings Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree India Earnings Index (the “Index”). In seeking to track the Index, the Fund invests in profitable companies in the Indian equity market. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -8.05% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). Despite the negative performance, the Indian equity market was one of the best performing regions last year. The Fund benefited from positions in the Utilities, Energy, and Information Technology sectors, primarily due to stock selection effects in the former two and a mix of stock selection and allocation impacts in the latter sector. Consumer Discretionary and Consumer Staples weighed negatively on performance because the Fund was underweight when those sectors outperformed in India, resulting in a negative allocation impact. Communication Services also presented a headwind for Fund performance, but that was primarily due to poor stock selection within the sector. The performance difference between the Fund NAV return and Index return for the fiscal year ended March 31, 2023 was primarily attributable to foreign capital gains taxes incurred by the Fund that are not deducted from Index performance.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized Net
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 1,016.80        0.83   $ 4.17  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,020.79        0.83   $ 4.18  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       -8.05      28.36      6.23      7.46

Fund Market Price Returns

       -6.85      28.58      6.04      7.51

WisdomTree India Earnings Index

       -6.35      31.64      7.90      9.00

MSCI India Index

       -12.17      22.22      6.15      7.00

 

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      13  


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree India ex-State-Owned Enterprises Fund (IXSE)

 

Sector Breakdown

 

Sector   % of Net Assets  

Financials

    18.6%  

Information Technology

    14.4%  

Consumer Discretionary

    14.4%  

Materials

    13.2%  

Consumer Staples

    11.5%  

Energy

    10.6%  

Health Care

    7.6%  

Industrials

    4.8%  

Communication Services

    4.2%  

Real Estate

    1.2%  

Utilities

    1.1%  

Other Assets less Liabilities‡

    -1.6%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Reliance Industries Ltd.

    10.6%  

Infosys Ltd.

    8.7%  

ICICI Bank Ltd.

    7.5%  

Hindustan Unilever Ltd.

    4.1%  

Axis Bank Ltd.

    3.7%  

Kotak Mahindra Bank Ltd.

    3.2%  

Bharti Airtel Ltd.

    3.1%  

Asian Paints Ltd.

    2.2%  

Mahindra & Mahindra Ltd.

    1.9%  

HCL Technologies Ltd.

    1.9%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree India ex-State-Owned Enterprises Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the WisdomTree India ex-State-Owned Enterprises Index (the “Index”). In seeking to track the Index, the Fund invests in Indian companies that are not state-owned, which is defined as government ownership greater than 20%. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -12.97% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). Despite the negative performance, the Indian equity market was one of the best performing regions last year. The Fund benefited from its underweight position in Information Technology, which was a weak performer. It also benefited from Materials due to positive stock selection. Poor stock selection within Utilities weighed negatively on performance the most among non-SOEs. The lack of exposure to SOEs in India over the period negatively impacted performance, as SOEs outperformed non-SOEs during the fiscal period.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio
    Expenses Paid
During the
Period
 

Actual

   $ 1,000.00      $ 941.70        0.58   $ 2.81  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,022.04        0.58   $ 2.92  

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      Since Inception1  

Fund NAV Returns

       -12.97      19.92      5.38

Fund Market Price Returns

       -11.86      20.05      5.14

WisdomTree India ex-State-Owned Enterprises Index

       -12.84      23.26      7.78

MSCI India Index

       -12.17      22.22      5.98
1 

Total returns are calculated based on the commencement of Fund trading on the NYSE Arca, Inc. on April 4, 2019.

 

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

14   WisdomTree Trust


Management’s Discussion of Funds’ Performance

as of March 31, 2023 (unaudited)

WisdomTree New Economy Real Estate Fund (WTRE)

(formerly, WisdomTree Global ex-U.S. Real Estate Fund (DRW))

 

Sector Breakdown

 

Sector   % of Net Assets  

Real Estate

    83.2%  

Communication Services

    11.1%  

Consumer Discretionary

    4.4%  

Information Technology

    0.7%  

Other Assets less Liabilities‡

    0.6%  

Total

    100.0%  

 

The Fund’s sector breakdown is expressed as a percentage of net assets and may change over time. In addition, a sector may be comprised of several industries. It does not include derivatives (if any).

 

Other assets less liabilities may include investment of cash collateral for securities on loan and/or receivables/payables on derivatives (if any).

Top Ten Holdings*

 

Description   % of Net Assets  

Digital Realty Trust, Inc.

    5.0%  

China Tower Corp. Ltd., Class H

    4.9%  

SBA Communications Corp.

    4.7%  

Cellnex Telecom SA

    4.6%  

Equinix, Inc.

    4.5%  

Crown Castle, Inc.

    4.5%  

American Tower Corp.

    4.5%  

Airbnb, Inc., Class A

    4.4%  

Prologis, Inc.

    4.3%  

Iron Mountain, Inc.

    4.3%  
*

The ten largest holdings are subject to change, and there are no guarantees the Fund will remain invested in any particular company. Excludes derivatives and investment of cash collateral for securities on loan (if any).

The WisdomTree New Economy Real Estate Fund (the “Fund”) seeks to track the price and yield performance, before fees and expenses, of the CenterSquare New Economy Real Estate Index (the “Index”). In seeking to track the Index, the Fund invests in dividend- paying companies in global equity securities, including American Depositary Receipts, of listed real estate investment trusts and companies identified as being significantly real estate related. The Fund’s objective and strategies changed effective April 20, 2022. Prior to April 20, 2022, Fund performance reflects the investment objective of the Fund when it was the WisdomTree Global ex-U.S. Real Estate Fund (DRW) and tracked the performance, before fees and expenses, of the WisdomTree Global ex-U.S. Real Estate Index. The Fund generally uses a representative sampling strategy to achieve its investment objective, meaning it generally will invest in a sample of securities in the Index.

The Fund returned -25.82% at net asset value (“NAV”) for the fiscal year ended March 31, 2023 (for more complete performance information please see the table below). The global Real Estate sector struggled significantly last year in a rising interest rate environment, which disproportionately affected the sector as a whole. Higher borrowing costs discouraged new construction and renovation of existing properties, while also presenting a budgetary headwind for Real Estate companies relying on credit financing. Property markets slumped around the world as part of the ongoing paradigmatic shift to “working from anywhere” and the Fund was not immune to this adverse trend.

Shareholder Expense Example (for the six-month period ended March 31, 2023)

 

         
      Beginning
Account Value
     Ending
Account Value
     Annualized
Expense Ratio1
    Expenses Paid
During the
Period1
 

Actual

   $ 1,000.00      $ 1,092.60        0.59   $ 3.08  

Hypothetical (5% return before expenses)

   $ 1,000.00      $ 1,021.99        0.59   $ 2.97  
1 

Included in the expense ratio are “Other fees” described in Note 6 which are not annualized. Without these expenses, the expense ratio would have been 0.58% and the actual and hypothetical expenses paid during the period would have been $3.05 and $2.95, respectively.

Performance

 

   
        Average Annual Total Return  
        1 Year      3 Year      5 Year      10 Year  

Fund NAV Returns

       -25.82      -4.91      -7.75      -0.70

Fund Market Price Returns

       -25.34      -4.95      -7.89      -0.82

WisdomTree Global ex-U.S. Real Estate/CenterSquare New Economy Real Estate Spliced Index1

       -25.58      -4.79      -7.60      -0.52

Dow Jones Global ex-U.S. Select Real Estate Securities Index/MSCI World Real Estate Investment Trust USD Spliced Index2

       -27.58      0.04      -4.88      -0.89

MSCI AC World ex-USA Index

       -5.07      11.80      2.47      4.17
1 

WisdomTree Global ex-U.S. Real Estate Index through April 20, 2022; CenterSquare New Economy Real Estate Index thereafter.

2 

Dow Jones Global ex-U.S. Select Real Estate Securities Index through April 20, 2022; MSCI World Real Estate Investment Trust USD Index thereafter.

 

 

LOGO

Performance is historical and does not guarantee future results. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares.

 

WisdomTree Trust      15  


Description of Terms and Indexes (unaudited)

 

Below are descriptions of certain terms and of each Index referenced in this report:

Allocation Effect measures an investment manager’s ability to effectively allocate a portfolio’s assets to various segments. A segment refers to assets or securities that are grouped within a certain classification such as sectors, industries, or countries. The allocation effect determines whether the overweighting or underweighting of segments relative to a benchmark contributes positively or negatively to the overall portfolio return. Positive allocation occurs when the portfolio is overweighted in a segment that outperforms the benchmark and underweighted in a segment that underperforms the benchmark. Negative allocation occurs when the portfolio is overweighted in a segment that underperforms the benchmark and underweighted in a segment that outperforms the benchmark.

The CenterSquare New Economy Real Estate Index is a weighted index that consists of global stocks of real estate companies that have material direct and/or indirect exposure to technology, sciences and/or ecommerce related business models and meet specific screening requirements that consider factors including growth, valuation and leverage criteria.

Correlation is a statistical measure of how two sets of returns move in relation to each other. Correlation coefficients range from -1 to 1. A correlation of 1 means the two subjects of analysis move in lockstep with each other. A correlation of -1 means the two subjects of analysis have moved in exactly the opposite direction.

The Dow Jones Global ex-U.S. Select Real Estate Securities Index is a float-adjusted market capitalization weighted index that defines and measures the investable universe of publicly traded real estate securities in countries outside the U.S.

Factors generally are attributes that are based on fundamentals or share price behavior.

The FTSE China 50 Index is a capitalization weighted index that is comprised of the 50 largest and most liquid Chinese securities.

Growth is generally characterized by higher price levels relative to fundamentals, such as dividends or earnings. Price levels are higher because investors are willing to pay more due to their expectations of future improvements in these fundamentals.

Momentum is generally characterized by assets with recent price increase trends over time. This term is also associated with the momentum factor which associates these stock characteristics with excess return vs. the market over time.

The MSCI AC World ex-USA Growth Index is comprised of growth stocks in the developed and emerging markets covered by MSCI, excluding the U.S.

The MSCI AC World ex-USA Index is a free float-adjusted market capitalization-weighted index designed to measure the combined equity market performance of developed and emerging markets countries, excluding the U.S.

The MSCI AC World Index is comprised of the world stock market indexes covered by MSCI.

The MSCI China Index is a free float-adjusted market capitalization weighted index designed to measure the performance of the Chinese equity market.

The MSCI Emerging Markets Index is a free float-adjusted market capitalization index that is designed to measure emerging markets equity performance.

The MSCI Emerging Markets Small Cap Index is a free float-adjusted market capitalization index that is designed to measure the performance of small capitalization equities in the emerging markets.

The MSCI Emerging Markets Value Index captures large and mid cap securities exhibiting overall value style characteristics across 27 Emerging Markets countries.

The MSCI India Index is a free float-adjusted market capitalization index that is designed to measure the performance of the Indian equity market.

 

16   WisdomTree Trust


Description of Terms and Indexes (unaudited) (continued)

 

The MSCI World Real Estate Investment Trusts Index is a free float-adjusted market capitalization index that captures large and mid cap companies.

Quality is generally characterized by higher efficiency and profitability. Typical measures include earnings, return-on-equity, return on assets, operating profitability as well as others. This term is also related to the quality factor, which associates these stock characteristics with excess returns vs. the market over time.

Quintiles refers to separating a universe of companies into five groups of equal size on the basis of dividend yield, price-to-earnings, or return-on-equity, as applicable.

Return-on-Equity (ROE) measures a corporation’s profitability by revealing how much profit a company generates with the money shareholders have invested.

Risk-on and Risk-off refers to investors’ appetites for risk which rise and fall over time. During periods when risk is perceived as low, the risk-on risk-off theory states that investors tend to engage in higher-risk investments (i.e., “Risk-on”). When risk is perceived to be high, investors have the tendency to gravitate toward lower-risk investments (i.e., “Risk-off”).

The S&P 500® Index is a capitalization-weighted index of 500 stocks selected by the Standard & Poor’s Index Committee, designed to represent the performance of the leading industries in the United States economy.

Selection Effect measures an investment manager’s ability to select securities within a given segment relative to a benchmark. The over or underperformance of the portfolio is weighted by the benchmark weight, therefore, selection is not affected by the investment manager’s allocation to the segment. The weight of the segment in the portfolio determines the size of the effect — the larger the segment, the larger the effect is, positive or negative. A positive selection effect occurs when the portfolio return is greater than the benchmark return. Thus, the investment manager made good decisions in selecting securities that, as a whole, outperformed similar securities in the benchmark. A negative selection effect occurs when the portfolio return is less than the benchmark return. Thus, the investment manager made poor decisions in selecting securities that, as a whole, underperformed similar securities in the benchmark.

The WisdomTree China Dividend ex-Financials Index is comprised of Chinese dividend paying stocks outside the Financials sector.

The WisdomTree China ex-State-Owned Enterprises Index measures the performance of Chinese stocks that are not state-owned enterprises. WisdomTree, Inc., as index provider, defines state-owned enterprises as companies with over 20% government ownership.

The WisdomTree Emerging Markets ex-State-Owned Enterprises Index is a modified market capitalization weighted index that consists of common stocks in emerging markets, excluding common stocks of “state-owned enterprises.” WisdomTree, Inc., as index provider, defines state-owned enterprises as companies with over 20% government ownership.

The WisdomTree Emerging Markets High Dividend Index is comprised of the highest dividend-yielding stocks selected from the WisdomTree Emerging Markets Dividend Index.

The WisdomTree Emerging Markets SmallCap Dividend Index is comprised of primarily small-capitalization stocks selected from the WisdomTree Emerging Markets Dividend Index.

The WisdomTree Global ex-U.S. Quality Dividend Growth Index is comprised of growth companies selected from developed and emerging markets outside the U.S.

The WisdomTree Global ex-U.S. Real Estate Index is comprised of companies in developed and emerging markets outside of Canada and the U.S., which WisdomTree classifies as being Global Real Estate securities.

The WisdomTree Global High Dividend Index is comprised of high dividend-paying companies selected from the WisdomTree Global Dividend Index.

 

WisdomTree Trust      17  


Description of Terms and Indexes (unaudited) (continued)

 

The WisdomTree Growth Leaders Index is a modified market capitalization-weighted index that is designed to provide exposure to mid and large-cap companies that are leveraging platform-based business models with high revenue growth.

The WisdomTree India Earnings Index is a fundamentally weighted index that is comprised of companies incorporated and traded in India that are profitable and that are eligible to be purchased by foreign investors as of the index measurement date.

The WisdomTree India ex-State-Owned Enterprises Index measures the performance of Indian stocks that are not state-owned enterprises. State-owned enterprises are defined as government ownership of more than 20% of outstanding shares of companies.

The Dow Jones Global ex-U.S. Select Real Estate Securities Index is calculated, distributed and marketed by Dow Jones Indexes, a licensed trademark of CME Group Index Services LLC, and has been licensed for use.

The Global Industry Classification Standard (“GICS”) was developed by and is the exclusive property and a service mark of MSCI Inc. (“MSCI”) and Standard & Poor’s (“S&P”), a division of The McGraw-Hill Companies, Inc. and is licensed for use by WisdomTree, Inc. Neither MSCI, S&P nor any other party involved in making or compiling the GICS or any GICS classifications makes any express or implied warranties or representations with respect to such standard or classification (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability and fitness for a particular purpose with respect to any such standard or classification. Without limiting any of the foregoing, in no event shall MSCI, S&P, any of their affiliates or any third party involved in making or compiling the GICS or any GICS classifications have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages.

Neither MSCI nor any other party involved in or related to compiling, computing or creating the MSCI data makes any express or implied warranties or representations with respect to such data (or the results to be obtained by the use thereof), and all such parties hereby expressly disclaim all warranties of originality, accuracy, completeness, merchantability or fitness for a particular purpose with respect to any such data. Without limiting any of the foregoing, in no event shall MSCI, any of its affiliates or any third party involved in or related to compiling, computing or creating the data have any liability for any direct, indirect, special, punitive, consequential or any other damages (including lost profits) even if notified of the possibility of such damages. No further distribution or dissemination of the MSCI data is permitted without MSCI’s express written consent.

The New Economy Real Estate Fund is not sponsored, endorsed, sold or promoted by CenterSquare Investment Management LLC (“CenterSquare”), any of its affiliates or any other third party involved in, or related to, calculating, compiling or creating the CenterSquare New Economy Real Estate Index (collectively, the “CenterSquare Parties”). The CenterSquare New Economy Real Estate Index is the exclusive property of CenterSquare and has been licensed for use by WisdomTree Asset Management and WisdomTree Trust as the Issuer of the New Economy Real Estate Fund. CenterSquare and the CenterSquare New Economy Real Estate Index’s name are trademarks of CenterSquare. None of the CenterSquare Parties makes any representation or warranty, express or implied, to the issuer or owners of shares of the New Economy Real Estate Fund, or any other person or entity, regarding the advisability of investing in funds generally, or in the New Economy Real Estate Fund particularly, or the ability of the CenterSquare New Economy Real Estate Index to track its corresponding market performance. None of the CenterSquare Parties has any obligation to take the needs of the issuer or owners of shares of the New Economy Real Estate Fund, or any other person or entity, into consideration in determining, composing or calculating the CenterSquare New Economy Real Estate Index. None of the CenterSquare

 

18   WisdomTree Trust


Description of Terms and Indexes (unaudited) (concluded)

 

Parties is responsible for, or has participated in, the determination of the timing of, prices at, or quantities of the New Economy Real Estate Fund to be issued or in the determination or calculation of the equation by, or the consideration into which, the New Economy Real Estate Fund is redeemable. Further, none of the CenterSquare Parties has any obligation or liability to the issuer or owners of shares of the New Economy Real Estate Fund, or any other person or entity, in connection with the administration, marketing or offering of the New Economy Real Estate Fund, whether as a result of statements included in the New Economy Real Estate Fund’s public offering documents or otherwise.

WisdomTree, Inc. and WisdomTree Asset Management, Inc. (together, “WisdomTree”) and the Funds make no representation or warranty, express or implied, to the owners of shares of the Funds or any member of the public regarding the advisability of investing in securities generally or in the Funds particularly or the ability of the underlying Indexes to track the performance of their underlying securities. WisdomTree is the licensor of certain trademarks, service marks and trade names of the Funds. WisdomTree has no obligation to take the needs of the Funds or the owners of shares of the Funds into consideration in determining, composing, or calculating the underlying WisdomTree Indexes of the applicable Funds. WisdomTree is not responsible for, and has not participated in, the determination of the timing of, prices of, or quantities of shares of the Funds to be issued or in the determination or calculation of the equation by which the shares of the Funds are redeemable. WisdomTree and the Funds do not guarantee the accuracy, completeness, or performance of the underlying Indexes or the data included therein and shall have no liability in connection with the underlying Indexes or their calculation.

Index performance information assumes the reinvestment of dividends and excludes management fees, transaction costs and expenses. You cannot directly invest in an index.

* * * * * *

Abbreviations used in the schedules of investments and related tables included in this report are as follows:

 

CURRENCY ABBREVIATIONS:                      
AUD   Australian dollar    EUR   Euro    PHP   Philippine peso
BRL   Brazilian real    HKD   Hong Kong dollar    TRY   Turkish new lira
CAD   Canadian dollar    IDR   Indonesian rupiah    TWD   New Taiwan dollar
CHF   Swiss franc    INR   Indian rupee    USD   U.S. dollar
CNY   Chinese yuan    MYR   Malaysian ringgit    ZAR   South African rand
OTHER ABBREVIATIONS:                      
ADR   American Depositary Receipt
CVA   Certificaten Van Aandelen (Certificate of Stock)
GDR   Global Depositary Receipt
NVDR   Non-Voting Depositary Receipt

 

WisdomTree Trust      19  


Schedule of Investments

WisdomTree China ex-State-Owned Enterprises Fund (CXSE)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 100.0%

 

China – 99.7%

 

Air Freight & Logistics – 1.7%

 

JD Logistics, Inc.*(a)

     1,605,100      $ 2,883,064  

SF Holding Co. Ltd., Class A

     584,661        4,714,884  

YTO Express Group Co. Ltd., Class A

     365,300        974,516  

ZTO Express Cayman, Inc.(b)

     148,282        4,231,259  
     

 

 

 
Total Air Freight & Logistics

 

     12,803,723  
Automobile Components – 0.4%

 

Fuyao Glass Industry Group Co. Ltd., Class A*

     166,167        841,083  

Fuyao Glass Industry Group Co. Ltd., Class H(a)

     256,900        1,119,240  

Minth Group Ltd.

     317,200        957,667  
     

 

 

 
Total Automobile Components

 

     2,917,990  
Automobiles – 4.7%

 

BYD Co. Ltd., Class A*

     95,188        3,548,707  

BYD Co. Ltd., Class H

     354,400        10,374,731  

Geely Automobile Holdings Ltd.

     2,107,900        2,712,092  

Great Wall Motor Co. Ltd., Class A

     127,700        519,369  

Great Wall Motor Co. Ltd., Class H(b)

     1,258,400        1,553,372  

Li Auto, Inc., Class A*

     478,400        5,972,420  

NIO, Inc., Class A*(b)

     632,560        6,410,251  

XPeng, Inc., Class A*(b)

     507,400        2,827,884  

Yadea Group Holdings Ltd.(a)

     440,200        1,135,555  
     

 

 

 
Total Automobiles

 

     35,054,381  
Banks – 1.1%

 

China Minsheng Banking Corp. Ltd., Class A

     6,078,136        3,053,539  

China Minsheng Banking Corp. Ltd., Class H(b)

     4,972,400        1,703,929  

Ping An Bank Co. Ltd., Class A*

     2,025,600        3,695,887  
     

 

 

 
Total Banks

 

     8,453,355  
Beverages – 1.2%

 

JiuGui Liquor Co. Ltd., Class A

     52,000        979,302  

Nongfu Spring Co. Ltd., Class H(a)

     1,408,100        8,098,869  
     

 

 

 
Total Beverages

 

     9,078,171  
Biotechnology – 3.5%

 

Akeso, Inc.*(a)(b)

     314,600        1,619,098  

BeiGene Ltd.*

     700,500        11,547,169  

Chongqing Zhifei Biological Products Co. Ltd., Class A

     189,300        2,258,435  

Imeik Technology Development Co. Ltd., Class A

     20,980        1,707,014  

Innovent Biologics, Inc.*(a)

     1,000,200        4,478,631  

Walvax Biotechnology Co. Ltd., Class A

     374,000        1,878,360  

Zai Lab Ltd., ADR*

     75,244        2,502,615  
     

 

 

 
Total Biotechnology

 

     25,991,322  
Broadline Retail – 16.2%

 

Alibaba Group Holding Ltd.*

     6,111,700        78,167,973  

JD.com, Inc., Class A

     1,015,952        22,260,491  

PDD Holdings, Inc., ADR*

     228,503        17,343,378  

Vipshop Holdings Ltd., ADR*

     139,020        2,110,324  
     

 

 

 
Total Broadline Retail

 

     119,882,166  
Building Products – 0.5%

 

Xinyi Glass Holdings Ltd.

     2,045,000      3,662,788  
Capital Markets – 1.0%

 

East Money Information Co. Ltd., Class A*

     2,444,536        7,130,030  
Chemicals – 2.5%

 

Canmax Technologies Co. Ltd., Class A

     88,200        657,458  

Chengxin Lithium Group Co. Ltd., Class A

     136,400        685,843  

Dongyue Group Ltd.

     1,152,900        1,189,624  

Ganfeng Lithium Group Co. Ltd., Class A

     255,400        2,472,069  

Ganfeng Lithium Group Co. Ltd., Class H(a)(b)

     318,940        1,982,722  

Guangzhou Tinci Materials Technology Co. Ltd., Class A

     285,600        1,745,049  

Hengli Petrochemical Co. Ltd., Class A

     450,800        1,063,440  

Jiangsu Eastern Shenghong Co. Ltd., Class A

     468,200        928,587  

Ningxia Baofeng Energy Group Co. Ltd., Class A

     497,600        1,068,775  

Rongsheng Petrochemical Co. Ltd., Class A

     738,800        1,627,720  

Shanghai Putailai New Energy Technology Co. Ltd., Class A

     132,300        961,527  

Shenzhen Dynanonic Co. Ltd., Class A*

     31,457        867,675  

Sichuan Yahua Industrial Group Co. Ltd., Class A

     223,400        688,681  

Tianqi Lithium Corp., Class A*

     254,288        2,796,416  
     

 

 

 
Total Chemicals

 

     18,735,586  
Communications Equipment – 0.4%

 

BYD Electronic International Co. Ltd.

     643,200        1,999,259  

Hengtong Optic-electric Co. Ltd., Class A

     401,969        883,860  
     

 

 

 
Total Communications Equipment

 

     2,883,119  
Construction & Engineering – 0.3%

 

China Conch Venture Holdings Ltd.

     1,253,663        2,187,935  
Construction Materials – 0.2%

 

China Jushi Co. Ltd., Class A

     524,100        1,115,009  
Consumer Finance – 0.2%

 

Lufax Holding Ltd., ADR

     605,480        1,235,179  
Consumer Staples Distribution & Retail – 0.4%

 

JD Health International, Inc.*(a)

     436,550        3,247,730  
Diversified Consumer Services – 0.6%

 

East Buy Holding Ltd.*(a)(b)

     117,500        506,675  

New Oriental Education & Technology Group, Inc.*

     641,563        2,500,886  

TAL Education Group, ADR*

     213,730        1,370,009  
     

 

 

 
Total Diversified Consumer Services

 

     4,377,570  
Electrical Equipment – 4.4%

 

Contemporary Amperex Technology Co. Ltd., Class A*

     285,059        16,854,981  

Ginlong Technologies Co. Ltd., Class A*

     47,700        927,842  

Gotion High-tech Co. Ltd., Class A

     205,800        893,349  

Hongfa Technology Co. Ltd., Class A

     179,000        849,477  

Jiangsu Zhongtian Technology Co. Ltd., Class A

     631,500        1,571,554  

Jiangxi Special Electric Motor Co. Ltd., Class A*

     338,400        758,373  

Ming Yang Smart Energy Group Ltd., Class A

     414,000        1,357,031  

Ningbo Orient Wires & Cables Co. Ltd., Class A

     103,600        743,890  

Sungrow Power Supply Co. Ltd., Class A

     221,000        3,374,552  

Suzhou Maxwell Technologies Co. Ltd., Class A

     25,456        1,130,587  

 

See Notes to Financial Statements.

 

20   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree China ex-State-Owned Enterprises Fund (CXSE)

March 31, 2023

 

 

 

Investments    Shares      Value  

TBEA Co. Ltd., Class A

     718,500      $ 2,271,436  

Xinjiang Goldwind Science & Technology Co. Ltd., Class A

     599,315        963,470  

Zhejiang Chint Electrics Co. Ltd., Class A

     249,600        1,016,602  
     

 

 

 
Total Electrical Equipment

 

     32,713,144  
Electronic Equipment, Instruments & Components – 4.1%

 

AAC Technologies Holdings, Inc.*(b)

     621,200        1,532,039  

BOE Technology Group Co. Ltd., Class A

     7,576,800        4,898,722  

Chaozhou Three-Circle Group Co. Ltd., Class A

     284,500        1,246,989  

Foxconn Industrial Internet Co. Ltd., Class A*

     1,110,100        2,783,615  

GoerTek, Inc., Class A

     589,400        1,836,699  

Kingboard Holdings Ltd.

     506,800        1,555,918  

Luxshare Precision Industry Co. Ltd., Class A

     1,077,076        4,753,859  

Maxscend Microelectronics Co. Ltd., Class A

     90,100        1,632,147  

Sunny Optical Technology Group Co. Ltd.

     586,100        7,089,242  

Suzhou Dongshan Precision Manufacturing Co. Ltd., Class A

     318,900        1,404,733  

Wingtech Technology Co. Ltd., Class A

     187,200        1,506,094  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     30,240,057  
Energy Equipment & Services – 0.0%

 

China Common Rich Renewable Energy Investments Ltd.*(b)

     502,000        0  
Entertainment – 4.8%

 

Bilibili, Inc., Class Z*

     216,965        5,240,360  

Kingsoft Corp. Ltd.

     857,800        4,223,463  

NetEase, Inc.

     1,470,915        25,858,288  
     

 

 

 
Total Entertainment

 

     35,322,111  
Food Products – 3.7%

 

China Feihe Ltd.(a)

     2,687,100        2,016,194  

Foshan Haitian Flavouring & Food Co. Ltd., Class A

     380,956        4,245,973  

Guangdong Haid Group Co. Ltd., Class A

     167,703        1,424,449  

Henan Shuanghui Investment & Development Co. Ltd., Class A

     235,200        888,426  

Inner Mongolia Yili Industrial Group Co. Ltd., Class A

     1,299,700        5,511,229  

Muyuan Foods Co. Ltd., Class A

     511,774        3,651,643  

Tingyi Cayman Islands Holding Corp.

     1,495,000        2,491,048  

Uni-President China Holdings Ltd.

     1,056,000        1,065,423  

Want Want China Holdings Ltd.

     3,959,100        2,546,953  

Wens Foodstuffs Group Co. Ltd., Class A

     1,134,300        3,381,113  
     

 

 

 
Total Food Products

 

     27,222,451  
Gas Utilities – 1.2%

 

ENN Energy Holdings Ltd.      622,800        8,536,778  
Health Care Equipment & Supplies – 1.7%

 

Lepu Medical Technology Beijing Co. Ltd., Class A

     296,100        999,461  

Lifetech Scientific Corp.*

     2,104,100        747,832  

Microport Scientific Corp.*(b)

     624,800        1,469,284  

Shandong Weigao Group Medical Polymer Co. Ltd., Class H

     1,911,200        3,053,070  

Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A

     131,774        5,981,284  
     

 

 

 
Total Health Care Equipment & Supplies

 

     12,250,931  
Health Care Providers & Services – 1.0%

 

Aier Eye Hospital Group Co. Ltd., Class A

     716,192      3,240,296  

Huadong Medicine Co. Ltd., Class A

     181,440        1,224,343  

Hygeia Healthcare Holdings Co. Ltd.*(a)(b)

     304,700        2,165,907  

Topchoice Medical Corp., Class A*

     53,800        1,012,809  
     

 

 

 
Total Health Care Providers & Services

 

     7,643,355  
Hotels, Restaurants & Leisure – 8.3%

 

H World Group Ltd.*

     610,070        2,964,881  

Haichang Ocean Park Holdings Ltd.*(a)(b)

     1,420,000        309,327  

Haidilao International Holding Ltd.*(a)(b)

     471,000        1,275,008  

Jiumaojiu International Holdings Ltd.(a)(b)

     350,700        834,537  

Meituan, Class B*(a)

     2,033,700        37,176,791  

Super Hi International Holding Ltd.*(b)

     57,199        143,691  

Tongcheng Travel Holdings Ltd.*

     454,000        987,818  

Trip.com Group Ltd.*

     204,877        7,667,930  

Yum China Holdings, Inc.

     163,450        10,277,635  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     61,637,618  
Household Durables – 1.1%

 

Gree Electric Appliances, Inc. of Zhuhai, Class A

     488,100        2,612,042  

Haier Smart Home Co. Ltd., Class A*

     443,800        1,465,697  

Haier Smart Home Co. Ltd., Class H

     931,100        2,929,722  

TCL Technology Group Corp., Class A

     1,289,600        831,903  
     

 

 

 
Total Household Durables

 

     7,839,364  
Household Products – 0.1%

 

Blue Moon Group Holdings Ltd.(a)(b)

     1,261,800        805,307  
Industrial Conglomerates – 0.2%

 

Fosun International Ltd.

     1,669,700        1,225,163  
Insurance – 6.4%

 

Ping An Insurance Group Co. of China Ltd., Class A*

     2,129,094        14,137,534  

Ping An Insurance Group Co. of China Ltd., Class H

     4,855,900        31,609,945  

ZhongAn Online P&C Insurance Co. Ltd., Class H*(a)(b)

     455,800        1,437,086  
     

 

 

 
Total Insurance

 

     47,184,565  
Interactive Media & Services – 2.5%

 

Autohome, Inc., ADR

     48,213        1,613,689  

JOYY, Inc., ADR

     37,502        1,169,313  

Kanzhun Ltd., ADR*

     173,375        3,299,326  

Kuaishou Technology*(a)

     1,592,000        12,259,492  
     

 

 

 
Total Interactive Media & Services

 

     18,341,820  
IT Services – 0.4%

 

Chindata Group Holdings Ltd., ADR*

     79,657        556,802  

GDS Holdings Ltd., Class A*

     872,400        2,111,555  
     

 

 

 
Total IT Services

 

     2,668,357  
Life Sciences Tools & Services – 4.4%

 

Genscript Biotech Corp.*

     956,400        2,046,831  

Hangzhou Tigermed Consulting Co. Ltd., Class A*

     140,767        1,961,879  

Pharmaron Beijing Co. Ltd., Class A

     155,650        1,109,924  

WuXi AppTec Co. Ltd., Class A

     495,147        5,732,120  

WuXi AppTec Co. Ltd., Class H(a)

     328,895        3,443,992  

 

See Notes to Financial Statements.

 

WisdomTree Trust      21  


Schedule of Investments (continued)

WisdomTree China ex-State-Owned Enterprises Fund (CXSE)

March 31, 2023

 

 

 

Investments    Shares      Value  

Wuxi Biologics Cayman, Inc.*(a)

     2,898,400      $ 17,944,348  
     

 

 

 
Total Life Sciences Tools & Services

 

     32,239,094  
Machinery – 1.4%

 

Haitian International Holdings Ltd.

     498,400        1,288,864  

Ningbo Deye Technology Co. Ltd., Class A

     22,080        829,403  

Sany Heavy Industry Co. Ltd., Class A

     1,396,048        3,474,213  

Shenzhen Inovance Technology Co. Ltd., Class A

     407,300        4,169,497  

Wuxi Shangji Automation Co. Ltd., Class A

     43,000        639,368  
     

 

 

 
Total Machinery

 

     10,401,345  
Marine Transportation – 0.3%

 

SITC International Holdings Co. Ltd.

     1,011,000        2,171,410  
Media – 0.3%

 

Focus Media Information Technology Co. Ltd., Class A

     2,321,124        2,322,037  
Metals & Mining – 0.9%

 

China Hongqiao Group Ltd.

     1,511,600        1,448,064  

GEM Co. Ltd., Class A

     1,073,300        1,167,497  

Sinomine Resource Group Co. Ltd., Class A

     83,800        857,854  

YongXing Special Materials Technology Co. Ltd., Class A

     42,725        521,985  

Zhejiang Huayou Cobalt Co. Ltd., Class A

     294,850        2,361,445  
     

 

 

 
Total Metals & Mining

 

     6,356,845  
Paper & Forest Products – 0.1%

 

Nine Dragons Paper Holdings Ltd.

     1,301,100        974,588  
Personal Care Products – 0.4%

 

Hengan International Group Co. Ltd.

     561,900        2,598,357  
Pharmaceuticals – 2.4%

 

Asymchem Laboratories Tianjin Co. Ltd., Class A*

     48,847        948,374  

China Medical System Holdings Ltd.

     940,000        1,484,850  

Hansoh Pharmaceutical Group Co. Ltd.(a)

     892,100        1,550,105  

Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class A

     910,168        5,675,214  

Kangmei Pharmaceutical Co. Ltd., Class A*

     199,602        60,747  

Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A

     277,504        1,308,863  

Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H(b)

     357,900        1,016,716  

Sino Biopharmaceutical Ltd.

     7,934,150        4,447,195  

Zhejiang NHU Co. Ltd., Class A

     373,460        976,163  
     

 

 

 
Total Pharmaceuticals

 

     17,468,227  
Real Estate Management & Development – 4.1%

 

C&D International Investment Group Ltd.(b)

     486,000        1,594,214  

Country Garden Holdings Co. Ltd.(b)

     8,402,936        2,365,682  

Country Garden Services Holdings Co. Ltd.

     1,598,300        2,764,975  

ESR Group Ltd.(a)

     1,983,600        3,557,868  

Evergrande Property Services Group Ltd.*(a)

     1,795,500        261,930  

Gemdale Corp., Class A

     938,800        1,148,329  

KE Holdings, Inc., ADR*

     607,300        11,441,532  

Longfor Group Holdings Ltd.(a)

     1,484,200        4,187,929  

Shimao Group Holdings Ltd.*

     561,400        82,892  

Sunac China Holdings Ltd.*

     1,592,600      209,024  

Wharf Holdings Ltd.

     998,000        2,283,337  
     

 

 

 
Total Real Estate Management & Development

 

     29,897,712  
Semiconductors & Semiconductor Equipment – 5.7%

 

Daqo New Energy Corp., ADR*

     46,698        2,187,334  

GCL Technology Holdings Ltd.*

     16,585,000        4,288,887  

GigaDevice Semiconductor, Inc., Class A

     162,726        2,890,885  

Hangzhou First Applied Material Co. Ltd., Class A

     124,980        1,069,208  

Hangzhou Silan Microelectronics Co. Ltd., Class A

     200,400        1,080,017  

JA Solar Technology Co. Ltd., Class A

     210,900        1,760,955  

JCET Group Co. Ltd., Class A

     309,007        1,460,148  

JinkoSolar Holding Co. Ltd., ADR*(b)

     32,975        1,682,385  

LONGi Green Energy Technology Co. Ltd., Class A*

     1,365,768        8,036,737  

Montage Technology Co. Ltd., Class A

     202,959        2,054,623  

SG Micro Corp., Class A

     51,350        1,160,503  

Shenzhen SC New Energy Technology Corp., Class A

     58,000        966,624  

Tongwei Co. Ltd., Class A

     581,458        3,294,531  

Trina Solar Co. Ltd., Class A

     227,490        1,725,562  

Will Semiconductor Co. Ltd., Class A

     175,566        2,329,018  

Xinyi Solar Holdings Ltd.

     3,812,765        4,570,490  

Zhejiang Jingsheng Mechanical & Electrical Co. Ltd., Class A

     144,600        1,374,767  
     

 

 

 
Total Semiconductors & Semiconductor Equipment

 

     41,932,674  
Software – 1.7%

 

Beijing Kingsoft Office Software, Inc., Class A

     44,255        3,048,158  

Hundsun Technologies, Inc., Class A

     354,710        2,748,921  

Kingdee International Software Group Co. Ltd.*(b)

     2,483,700        4,024,569  

Thunder Software Technology Co. Ltd., Class A

     70,600        1,113,904  

Yonyou Network Technology Co. Ltd., Class A

     514,813        1,885,391  
     

 

 

 
Total Software

 

     12,820,943  
Specialty Retail – 0.4%

 

Pop Mart International Group Ltd.(a)(b)

     326,500        890,082  

Topsports International Holdings Ltd.(a)

     1,287,200        1,177,345  

Zhongsheng Group Holdings Ltd.

     236,100        1,163,965  
     

 

 

 
Total Specialty Retail

 

     3,231,392  
Technology Hardware, Storage & Peripherals – 0.2%

 

Ninestar Corp., Class A

     194,800        1,271,378  
Textiles, Apparel & Luxury Goods – 2.5%

 

ANTA Sports Products Ltd.

     432,700        6,283,836  

Bosideng International Holdings Ltd.

     1,176,000        656,167  

Li Ning Co. Ltd.

     972,000        7,664,609  

Shenzhou International Group Holdings Ltd.

     316,100        3,318,065  

Xtep International Holdings Ltd.

     530,200        674,068  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     18,596,745  

 

See Notes to Financial Statements.

 

22   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree China ex-State-Owned Enterprises Fund (CXSE)

March 31, 2023

 

 

 

 

Investments    Shares      Value  
Trading Companies & Distributors – 0.1%

 

Beijing United Information Technology Co. Ltd., Class A

     75,400      $ 910,755  
     

 

 

 
Total China

 

     735,580,577  
United States – 0.3%

 

Biotechnology – 0.3%

 

Legend Biotech Corp., ADR*      45,581        2,197,916  

TOTAL COMMON STOCKS

(Cost: $885,550,782)

 

 

     737,778,493  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 1.2%

 

United States – 1.2%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(c)

(Cost: $9,349,973)

     9,349,973        9,349,973  

TOTAL INVESTMENTS IN SECURITIES – 101.2%

(Cost: $894,900,755)

        747,128,466  

Other Assets less Liabilities – (1.2)%

        (9,140,149
     

 

 

 
NET ASSETS – 100.0%             $ 737,988,317  
* 

Non-income producing security.

 

 

This security is being fair valued using significant unobservable inputs (i.e., Level 3 on the fair value hierarchy) by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust. The aggregate value of Level 3 fair valued securities is $553,846, which represents 0.08% of net assets.

 

(a) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(b)

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $29,912,968 and the total market value of the collateral held by the Fund was $32,058,273. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $22,708,300.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

Standard Chartered Bank

    4/3/2023       176,880       USD       1,388,480       HKD     $ 3     $  

 

FAIR VALUATION SUMMARY
The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 – Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

           

Investments in Securities

           

Common Stocks

           

Energy Equipment & Services

   $      $      $ 0 *     $ 0  

Real Estate Management & Development

     29,343,866               553,846 *       29,897,712  

Other

     707,880,781                      707,880,781  

Investment of Cash Collateral for Securities Loaned

            9,349,973               9,349,973  

Total Investments in Securities

   $ 737,224,647      $ 9,349,973      $ 553,846      $ 747,128,466  

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ 3      $      $ 3  

Total – Net

   $ 737,224,647      $ 9,349,976      $ 553,846      $ 747,128,469  
* 

Fair valuations using significant unobservable inputs were determined by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust.

 

1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

WisdomTree Trust      23  


Schedule of Investments

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.8%

 

Brazil – 3.8%

 

3R Petroleum Oleo e Gas SA*

     115,346      $ 670,430  

Ambev SA

     2,881,719        8,144,575  

Arezzo Industria e Comercio SA

     57,912        725,406  

Atacadao SA

     354,789        866,986  

B3 SA – Brasil Bolsa Balcao

     3,359,919        6,858,668  

Banco Bradesco SA

     982,626        2,296,557  

Banco Santander Brasil SA

     274,196        1,449,328  

BRF SA*

     398,449        488,017  

CCR SA

     738,724        1,864,931  

Cia Siderurgica Nacional SA

     369,190        1,124,263  

Cosan SA

     825,425        2,456,617  

Embraer SA*

     513,102        2,103,918  

Energisa SA

     151,843        1,203,304  

Engie Brasil Energia SA

     120,281        952,949  

Equatorial Energia SA

     488,438        2,597,167  

Grupo De Moda Soma SA

     319,890        511,673  

Hapvida Participacoes e Investimentos SA*(a)

     2,956,261        1,527,618  

Hypera SA

     279,545        2,078,565  

Itau Unibanco Holding SA

     359,196        1,491,971  

Localiza Rent a Car SA

     450,515        4,744,835  

Lojas Renner SA

     580,600        1,897,449  

Magazine Luiza SA*

     1,293,875        844,678  

Natura & Co. Holding SA

     552,321        1,437,925  

Petro Rio SA*

     400,431        2,463,279  

Raia Drogasil SA

     676,745        3,263,432  

Rede D’Or Sao Luiz SA(a)

     503,917        2,110,980  

Rumo SA

     688,295        2,558,919  

Sendas Distribuidora SA

     529,587        1,623,151  

Suzano SA

     468,542        3,844,258  

Telefonica Brasil SA

     393,251        2,998,488  

TIM SA

     772,683        1,917,135  

TOTVS SA

     301,060        1,672,077  

Transmissora Alianca de Energia Eletrica SA

     117,989        810,524  

Ultrapar Participacoes SA

     439,004        1,208,717  

Vibra Energia SA

     768,144        2,183,118  

WEG SA

     864,007        6,910,011  
     

 

 

 
Total Brazil

 

     81,901,919  
Chile – 0.3%

 

Banco de Chile

     21,877,782        2,136,281  

Banco Santander Chile

     36,727,311        1,637,517  

Empresas CMPC SA

     772,776        1,298,435  

Empresas COPEC SA

     185,748        1,318,028  
     

 

 

 
Total Chile

 

     6,390,261  
China – 29.2%

 

AAC Technologies Holdings, Inc.*(b)

     700,000        1,726,380  

Aier Eye Hospital Group Co. Ltd., Class A

     521,347        2,358,751  

Alibaba Group Holding Ltd.*

     7,531,232        96,323,632  

ANTA Sports Products Ltd.

     532,700        7,736,075  

Asymchem Laboratories Tianjin Co. Ltd., Class A*

     80        1,553  

Autohome, Inc., ADR

     49,125        1,644,214  

BeiGene Ltd.*

     426,100        7,023,910  

Beijing Kingsoft Office Software, Inc., Class A

     31,544      $ 2,172,661  

Beijing United Information Technology Co. Ltd., Class A

     76,800        927,666  

Bilibili, Inc., Class Z*(b)

     190,894        4,610,667  

BOE Technology Group Co. Ltd., Class A

     6,688,800        4,324,592  

Bosideng International Holdings Ltd.

     1,816,000        1,013,265  

BYD Co. Ltd., Class A*

     134,974        5,031,969  

BYD Co. Ltd., Class H

     430,000        12,587,851  

BYD Electronic International Co. Ltd.

     476,500        1,481,105  

China Common Rich Renewable Energy Investments Ltd.*

     102,000        0  

China Conch Venture Holdings Ltd.

     880,900        1,537,377  

China Feihe Ltd.(a)

     2,004,000        1,503,648  

China Hongqiao Group Ltd.

     1,413,500        1,354,088  

China Minsheng Banking Corp. Ltd., Class A

     3,740,279        1,879,045  

China Minsheng Banking Corp. Ltd., Class H(b)

     5,028,000        1,722,982  

Chongqing Zhifei Biological Products Co. Ltd., Class A

     141,700        1,690,545  

Contemporary Amperex Technology Co. Ltd., Class A*

     191,917        11,347,676  

Country Garden Services Holdings Co. Ltd.

     994,000        1,719,568  

Daqo New Energy Corp., ADR*

     32,089        1,503,049  

East Money Information Co. Ltd., Class A*

     1,694,661        4,942,854  

ENN Energy Holdings Ltd.

     370,200        5,074,366  

ESR Group Ltd.(a)

     1,273,800        2,284,741  

Evergrande Property Services Group Ltd.*(a)(b)

     2,120,500        309,341  

Focus Media Information Technology Co. Ltd., Class A

     2,338,300        2,339,219  

Foshan Haitian Flavouring & Food Co. Ltd., Class A

     273,739        3,050,978  

Foxconn Industrial Internet Co. Ltd., Class A*

     1,256,300        3,150,217  

Fuyao Glass Industry Group Co. Ltd., Class A*

     268,082        1,356,942  

Fuyao Glass Industry Group Co. Ltd., Class H(a)

     316,000        1,376,722  

Ganfeng Lithium Group Co. Ltd., Class A

     186,020        1,800,526  

Ganfeng Lithium Group Co. Ltd., Class H(a)(b)

     199,400        1,239,590  

GCL Technology Holdings Ltd.*(b)

     11,204,000        2,897,359  

GDS Holdings Ltd., Class A*

     505,452        1,223,395  

Geely Automobile Holdings Ltd.

     2,579,000        3,318,225  

Gemdale Corp., Class A

     842,600        1,030,658  

Genscript Biotech Corp.*

     682,000        1,459,576  

GigaDevice Semiconductor, Inc., Class A

     136,600        2,426,747  

Ginlong Technologies Co. Ltd., Class A*

     34,400        669,135  

GoerTek, Inc., Class A

     456,900        1,423,800  

Great Wall Motor Co. Ltd., Class H(b)

     2,262,700        2,793,083  

Gree Electric Appliances, Inc. of Zhuhai, Class A

     709,900        3,798,993  

Guangdong Haid Group Co. Ltd., Class A

     150,100        1,274,931  

Guangzhou Tinci Materials Technology Co. Ltd., Class A

     202,700        1,238,521  

H World Group Ltd.*

     783,070        3,805,645  

Haichang Ocean Park Holdings Ltd.*(a)(b)

     1,968,000        428,701  

Haidilao International Holding Ltd.*(a)(b)

     631,300        1,708,944  

Haier Smart Home Co. Ltd., Class A*

     759,500        2,508,331  

Haier Smart Home Co. Ltd., Class H

     992,400        3,122,603  

Hangzhou First Applied Material Co. Ltd., Class A

     111,260        951,833  

 

See Notes to Financial Statements.

 

24   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE)

March 31, 2023

 

 

 

Investments    Shares      Value  

Hangzhou Tigermed Consulting Co. Ltd., Class A*

     107,000      $ 1,491,266  

Hengan International Group Co. Ltd.

     339,500        1,569,927  

Hengli Petrochemical Co. Ltd., Class A

     413,940        976,487  

Hengtong Optic-electric Co. Ltd., Class A

     370,500        814,665  

Hundsun Technologies, Inc., Class A

     255,371        1,979,067  

Hygeia Healthcare Holdings Co. Ltd.*(a)(b)

     196,200        1,394,653  

Imeik Technology Development Co. Ltd., Class A

     19,500        1,586,595  

Inner Mongolia Yili Industrial Group Co. Ltd., Class A

     955,800        4,052,961  

Innovent Biologics, Inc.*(a)

     614,000        2,749,330  

JA Solar Technology Co. Ltd., Class A

     163,680        1,366,681  

JCET Group Co. Ltd., Class A

     194,300        918,124  

JD Health International, Inc.*(a)

     560,550        4,170,233  

JD Logistics, Inc.*(a)(b)

     876,700        1,574,720  

JD.com, Inc., Class A

     1,215,909        26,641,743  

Jiangsu Hengrui Pharmaceuticals Co. Ltd., Class A

     655,313        4,086,104  

Jiangsu Zhongtian Technology Co. Ltd., Class A

     451,000        1,122,361  

JinkoSolar Holding Co. Ltd., ADR*(b)

     24,504        1,250,194  

Jiumaojiu International Holdings Ltd.(a)

     395,000        939,955  

JOYY, Inc., ADR

     35,843        1,117,585  

Kangmei Pharmaceutical Co. Ltd., Class A*

     31,038        9,446  

Kanzhun Ltd., ADR*

     165,900        3,157,077  

KE Holdings, Inc., ADR*

     362,099        6,821,945  

Kingboard Holdings Ltd.

     343,000        1,053,039  

Kingdee International Software Group Co. Ltd.*

     1,556,000        2,521,331  

Kingsoft Corp. Ltd.

     853,000        4,199,829  

Kuaishou Technology*(a)

     1,421,900        10,949,605  

Li Auto, Inc., Class A*

     600,000        7,490,494  

Li Ning Co. Ltd.

     1,197,000        9,438,824  

Lifetech Scientific Corp.*

     2,868,000        1,019,334  

Longfor Group Holdings Ltd.(a)

     895,000        2,525,398  

LONGi Green Energy Technology Co. Ltd., Class A*

     905,972        5,331,110  

Lufax Holding Ltd., ADR

     379,301        773,774  

Luxshare Precision Industry Co. Ltd., Class A

     754,300        3,329,232  

Meituan, Class B*(a)

     2,465,700        45,073,911  

Microport Scientific Corp.*

     478,700        1,125,714  

Ming Yang Smart Energy Group Ltd., Class A

     247,700        811,924  

Minth Group Ltd.

     494,000        1,491,449  

Montage Technology Co. Ltd., Class A

     173,118        1,752,532  

Muyuan Foods Co. Ltd., Class A

     360,976        2,575,659  

NetEase, Inc.

     1,347,630        23,690,971  

New Oriental Education & Technology Group, Inc.*

     799,936        3,118,242  

Nine Dragons Paper Holdings Ltd.

     1,464,000        1,096,608  

Ninestar Corp., Class A

     231,600        1,511,556  

Ningbo Deye Technology Co. Ltd., Class A

     16,300        612,285  

NIO, Inc., Class A*(b)

     766,570        7,768,284  

Nongfu Spring Co. Ltd., Class H(a)

     907,000        5,216,727  

PDD Holdings, Inc., ADR*

     280,996        21,327,596  

Pharmaron Beijing Co. Ltd., Class A

     138,044        984,377  

Ping An Bank Co. Ltd., Class A*

     1,329,426        2,425,656  

Ping An Insurance Group Co. of China Ltd., Class A*

     1,378,500        9,153,466  

Ping An Insurance Group Co. of China Ltd., Class H

     2,905,000        18,910,375  

Pop Mart International Group Ltd.(a)(b)

     359,800      980,862  

Rongsheng Petrochemical Co. Ltd., Class A

     637,600        1,404,757  

Sany Heavy Industry Co. Ltd., Class A

     1,045,736        2,602,424  

SF Holding Co. Ltd., Class A

     408,573        3,294,857  

Shandong Weigao Group Medical Polymer Co. Ltd., Class H

     1,308,200        2,089,800  

Shanghai Fosun Pharmaceutical Group Co. Ltd., Class A

     348,773        1,645,007  

Shanghai Putailai New Energy Technology Co. Ltd., Class A

     98,700        717,330  

Shenzhen Dynanonic Co. Ltd., Class A*

     23,000        634,407  

Shenzhen Inovance Technology Co. Ltd., Class A

     328,000        3,357,710  

Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A

     91,600        4,157,767  

Shenzhou International Group Holdings Ltd.

     376,300        3,949,977  

Sino Biopharmaceutical Ltd.

     4,381,000        2,455,608  

SITC International Holdings Co. Ltd.

     820,000        1,761,183  

Sunac China Holdings Ltd.*(b)

     1,722,000        226,007  

Sungrow Power Supply Co. Ltd., Class A

     157,000        2,397,306  

Sunny Optical Technology Group Co. Ltd.

     382,400        4,625,364  

Super Hi International Holding Ltd.*(b)

     107,329        269,623  

Suzhou Maxwell Technologies Co. Ltd., Class A

     19,900        883,826  

TAL Education Group, ADR*

     297,553        1,907,315  

TBEA Co. Ltd., Class A

     536,200        1,695,121  

TCL Technology Group Corp., Class A

     2,672,300        1,723,864  

Tianqi Lithium Corp., Class A*

     178,700        1,965,172  

Tingyi Cayman Islands Holding Corp.(b)

     884,000        1,472,967  

Tongcheng Travel Holdings Ltd.*

     671,600        1,461,274  

Tongwei Co. Ltd., Class A

     411,358        2,330,747  

Topsports International Holdings Ltd.(a)

     1,720,000        1,573,207  

Trina Solar Co. Ltd., Class A

     161,490        1,224,938  

Trip.com Group Ltd.*

     260,070        9,733,637  

Vipshop Holdings Ltd., ADR*

     192,274        2,918,719  

Walvax Biotechnology Co. Ltd., Class A

     277,100        1,391,694  

Want Want China Holdings Ltd.

     2,712,000        1,744,674  

Wens Foodstuffs Group Co. Ltd., Class A

     831,500        2,478,529  

Wharf Holdings Ltd.

     703,000        1,608,403  

Will Semiconductor Co. Ltd., Class A

     165,640        2,197,342  

Wingtech Technology Co. Ltd., Class A

     158,370        1,274,146  

WuXi AppTec Co. Ltd., Class A

     365,973        4,236,724  

WuXi AppTec Co. Ltd., Class H(a)

     159,200        1,667,048  

Wuxi Biologics Cayman, Inc.*(a)

     1,739,500        10,769,457  

Xinyi Glass Holdings Ltd.

     1,281,000        2,294,392  

Xinyi Solar Holdings Ltd.

     2,823,753        3,384,928  

XPeng, Inc., Class A*(b)

     601,000        3,349,544  

Xtep International Holdings Ltd.

     813,000        1,033,604  

Yadea Group Holdings Ltd.(a)

     754,000        1,945,044  

Yum China Holdings, Inc.(b)

     201,050        12,641,900  

Zai Lab Ltd., ADR*

     46,787        1,556,136  

Zhejiang Huayou Cobalt Co. Ltd., Class A

     218,470        1,749,720  

Zhejiang Jingsheng Mechanical & Electrical Co. Ltd., Class A

     107,900        1,025,846  

Zhejiang NHU Co. Ltd., Class A

     321,880        841,342  

ZhongAn Online P&C Insurance Co. Ltd., Class H*(a)(b)

     365,000        1,150,803  

 

See Notes to Financial Statements.

 

WisdomTree Trust      25  


Schedule of Investments (continued)

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE)

March 31, 2023

 

 

 

Investments    Shares      Value  

Zhongsheng Group Holdings Ltd.

     330,000      $ 1,626,889  

ZTO Express Cayman, Inc.(b)

     198,512        5,664,582  
     

 

 

 
Total China

 

     634,392,189  
Czech Republic – 0.1%

 

Komercni Banka AS      91,243        3,029,625  
Hungary – 0.2%

 

MOL Hungarian Oil & Gas PLC

     181,072        1,326,159  

OTP Bank Nyrt

     55,993        1,596,532  

Richter Gedeon Nyrt

     53,891        1,127,587  
     

 

 

 
Total Hungary

 

     4,050,278  
India – 16.7%

 

Aarti Industries Ltd.

     138,323        872,109  

Aarti Pharmalabs Ltd.

     42,326        142,069  

ABB India Ltd.

     28,981        1,186,693  

ACC Ltd.

     51,965        1,054,191  

Adani Green Energy Ltd.*

     179,526        1,924,854  

Adani Total Gas Ltd.

     141,771        1,496,934  

Alkem Laboratories Ltd.

     21,164        874,579  

Ambuja Cements Ltd.*

     376,242        1,673,535  

APL Apollo Tubes Ltd.

     94,149        1,380,860  

Apollo Hospitals Enterprise Ltd.

     53,903        2,827,493  

Ashok Leyland Ltd.

     944,334        1,599,505  

Asian Paints Ltd.

     220,343        7,404,377  

Astral Ltd.

     78,076        1,270,193  

Atul Ltd.

     14,503        1,228,085  

AU Small Finance Bank Ltd.(a)

     197,135        1,389,354  

Avenue Supermarts Ltd.*(a)

     73,859        3,056,589  

Axis Bank Ltd.

     1,211,465        12,655,282  

Bajaj Auto Ltd.

     35,084        1,658,413  

Bajaj Finserv Ltd.

     259,936        4,005,828  

Balkrishna Industries Ltd.

     47,202        1,120,827  

Bandhan Bank Ltd.*(a)

     389,311        927,297  

Bata India Ltd.

     2,403        41,472  

Berger Paints India Ltd.

     130,788        925,737  

Bharat Forge Ltd.

     179,611        1,683,829  

Bharti Airtel Ltd.

     1,704,776        15,537,094  

Biocon Ltd.

     259,015        650,354  

Britannia Industries Ltd.

     60,893        3,202,491  

CG Power & Industrial Solutions Ltd.

     379,046        1,383,905  

Cipla Ltd.

     278,914        3,056,150  

Coforge Ltd.

     23,168        1,075,230  

Colgate-Palmolive India Ltd.

     67,750        1,242,636  

Crompton Greaves Consumer Electricals Ltd.

     388,131        1,383,779  

Cummins India Ltd.

     84,535        1,676,248  

Dabur India Ltd.

     317,773        2,106,951  

Deepak Nitrite Ltd.

     25,763        577,628  

Divi’s Laboratories Ltd.

     68,000        2,336,115  

Dixon Technologies India Ltd.

     19,454        677,318  

DLF Ltd.

     419,661        1,821,471  

Dr. Lal PathLabs Ltd.(a)

     24,399        542,741  

Dr. Reddy’s Laboratories Ltd.

     59,019        3,319,807  

Eicher Motors Ltd.

     74,804        2,684,097  

Emami Ltd.

     159,701      696,752  

Federal Bank Ltd.

     1,084,512        1,745,882  

Fortis Healthcare Ltd.*

     273,145        863,814  

Godrej Consumer Products Ltd.*

     213,393        2,513,874  

Godrej Properties Ltd.*

     83,605        1,048,896  

Grasim Industries Ltd.

     213,683        4,245,189  

Gujarat Fluorochemicals Ltd.

     20,942        769,617  

Havells India Ltd.

     137,028        1,981,660  

HCL Technologies Ltd.

     487,508        6,437,722  

HDFC Asset Management Co. Ltd.(a)

     49,866        1,036,275  

HDFC Life Insurance Co. Ltd.(a)

     444,782        2,701,733  

Hero MotoCorp Ltd.

     64,701        1,848,032  

Hindustan Unilever Ltd.

     444,353        13,843,570  

ICICI Bank Ltd., ADR

     1,194,492        25,777,137  

ICICI Lombard General Insurance Co. Ltd.(a)

     131,201        1,707,413  

ICICI Prudential Life Insurance Co. Ltd.(a)

     214,048        1,134,800  

IDFC First Bank Ltd.*

     1,632,117        1,093,275  

Indian Hotels Co. Ltd.

     469,950        1,854,754  

Indus Towers Ltd.

     591,906        1,029,934  

Info Edge India Ltd.

     59,165        2,680,666  

Infosys Ltd., ADR

     1,637,024        28,549,699  

InterGlobe Aviation Ltd.*(a)

     46,672        1,085,071  

JSW Steel Ltd.

     445,999        3,734,273  

Jubilant Foodworks Ltd.

     210,742        1,128,556  

Kotak Mahindra Bank Ltd.

     508,215        10,715,911  

Laurus Labs Ltd.(a)

     181,951        648,588  

Lupin Ltd.

     115,742        913,176  

Mahindra & Mahindra Ltd.

     489,639        6,903,473  

Marico Ltd.

     256,732        1,498,859  

Maruti Suzuki India Ltd.

     64,387        6,496,598  

Max Financial Services Ltd.*

     133,399        1,030,735  

Max Healthcare Institute Ltd.*

     382,756        2,054,375  

Motherson Sumi Wiring India Ltd.

     1,617,913        949,890  

Mphasis Ltd.

     49,588        1,083,535  

MRF Ltd.

     1,605        1,641,417  

Navin Fluorine International Ltd.

     23,867        1,240,245  

Nestle India Ltd.

     18,903        4,532,281  

Page Industries Ltd.

     4,177        1,926,470  

Persistent Systems Ltd.

     25,193        1,413,040  

PI Industries Ltd.

     47,056        1,735,030  

PVR Ltd.*

     42,060        785,082  

Reliance Industries Ltd., GDR(a)(b)

     766,841        43,211,490  

Reliance Industries Ltd., GDR(a)

     39,698        2,236,982  

Samvardhana Motherson International Ltd.

     1,517,255        1,238,802  

Shree Cement Ltd.

     6,473        2,062,582  

Siemens Ltd.

     49,224        1,992,829  

SRF Ltd.

     76,184        2,235,809  

Sun Pharmaceutical Industries Ltd.

     541,022        6,471,922  

Supreme Industries Ltd.

     57,147        1,747,840  

Tata Chemicals Ltd.

     84,972        1,005,458  

Tata Consumer Products Ltd.

     338,316        2,918,082  

Tata Elxsi Ltd.

     17,529        1,271,038  

Tata Motors Ltd.*

     884,368        4,528,240  

 

See Notes to Financial Statements.

 

26   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE)

March 31, 2023

 

 

 

Investments    Shares      Value  

Tata Steel Ltd.

     4,085,353      $ 5,194,772  

Tech Mahindra Ltd.

     319,306        4,281,049  

Titan Co. Ltd.

     195,195        5,973,241  

Torrent Pharmaceuticals Ltd.

     61,836        1,156,587  

Trent Ltd.

     122,170        2,043,959  

Tube Investments of India Ltd.

     48,860        1,514,031  

TVS Motor Co. Ltd.

     122,621        1,607,244  

UltraTech Cement Ltd.

     62,376        5,785,164  

United Spirits Ltd.*

     180,715        1,663,064  

Varun Beverages Ltd.

     136,755        2,308,024  

Vedanta Ltd.

     580,402        1,938,263  

Voltas Ltd.

     136,168        1,355,757  

Wipro Ltd.

     710,138        3,156,121  

Zee Entertainment Enterprises Ltd.

     657,749        1,698,746  

Zomato Ltd.*

     2,159,821        1,340,320  
     

 

 

 
Total India

 

     362,688,835  
Indonesia – 2.5%

 

Astra International Tbk PT

     13,578,000        5,433,192  

Bank Central Asia Tbk PT

     36,727,700        21,432,350  

Bank Jago Tbk PT*

     2,929,900        472,864  

Barito Pacific Tbk PT

     25,311,498        1,392,643  

Berkah Beton Sadaya Tbk PT

     19,949,600        791,625  

Chandra Asri Petrochemical Tbk PT

     17,270,800        2,695,233  

Charoen Pokphand Indonesia Tbk PT

     5,588,500        1,859,790  

Elang Mahkota Teknologi Tbk PT

     37,464,600        1,973,859  

GoTo Gojek Tokopedia Tbk PT*

     658,971,500        4,790,283  

Indofood CBP Sukses Makmur Tbk PT

     1,538,600        1,023,544  

Indofood Sukses Makmur Tbk PT

     3,810,100        1,575,419  

Kalbe Farma Tbk PT

     14,686,700        2,056,892  

Merdeka Copper Gold Tbk PT*

     11,883,500        3,320,675  

Sarana Menara Nusantara Tbk PT

     28,112,600        1,734,246  

Sumber Alfaria Trijaya Tbk PT

     13,687,100        2,628,887  

Unilever Indonesia Tbk PT

     3,777,900        1,095,993  
     

 

 

 
Total Indonesia

 

     54,277,495  
Malaysia – 1.1%

 

Genting Malaysia Bhd

     3,946,500        2,370,136  

Hong Leong Bank Bhd

     1,059,408        4,854,670  

Hong Leong Financial Group Bhd

     406,600        1,656,809  

MR DIY Group M Bhd(a)

     4,243,200        1,490,529  

Nestle Malaysia Bhd

     89,100        2,768,410  

PPB Group Bhd

     1,025,500        3,848,675  

Press Metal Aluminium Holdings Bhd

     4,708,500        5,196,690  

QL Resources Bhd

     1,433,825        1,887,937  
     

 

 

 
Total Malaysia

 

     24,073,856  
Mexico – 3.1%

 

Alfa SAB de CV, Class A

     2,483,883        1,570,998  

America Movil SAB de CV, Series B

     11,528,396        12,086,428  

Arca Continental SAB de CV

     271,300        2,458,769  

Banco del Bajio SA(a)

     341,408        1,240,383  

Cemex SAB de CV, Series CPO*

     5,784,073        3,168,170  

Coca-Cola Femsa SAB de CV

     290,550        2,328,938  

Corp. Inmobiliaria Vesta SAB de CV(b)

     737,594        2,313,356  

Fibra Uno Administracion SA de CV

     1,541,025        2,148,183  

Fomento Economico Mexicano SAB de CV(b)

     737,980      7,021,764  

Grupo Aeroportuario del Pacifico SAB de CV, Class B(b)

     190,894        3,706,765  

Grupo Aeroportuario del Sureste SAB de CV, Class B(b)

     84,334        2,574,578  

Grupo Bimbo SAB de CV, Series A(b)

     641,535        3,221,887  

Grupo Financiero Banorte SAB de CV, Class O

     855,728        7,198,997  

Grupo Mexico SAB de CV, Series B

     1,343,034        6,346,981  

Grupo Televisa SAB, Series CPO(b)

     1,723,987        1,820,804  

Wal-Mart de Mexico SAB de CV(b)

     1,976,385        7,884,306  
     

 

 

 
Total Mexico

 

     67,091,307  
Philippines – 1.0%

 

ACEN Corp.

     173,610        19,544  

Ayala Corp.

     132,140        1,579,895  

Bank of the Philippine Islands

     1,197,884        2,258,496  

BDO Unibank, Inc.

     1,012,468        2,393,123  

Globe Telecom, Inc.

     20,955        718,479  

International Container Terminal Services, Inc.

     328,940        1,291,195  

JG Summit Holdings, Inc.

     885,240        779,969  

Jollibee Foods Corp.

     275,010        1,133,123  

Metropolitan Bank & Trust Co.

     1,598,230        1,719,791  

PLDT, Inc.

     72,855        1,902,954  

SM Investments Corp.

     219,775        3,593,856  

SM Prime Holdings, Inc.

     5,075,600        3,062,259  
     

 

 

 
Total Philippines

 

     20,452,684  
Poland – 0.8%

 

Asseco Poland SA

     92,702        1,637,544  

Bank Polska Kasa Opieki SA

     159,922        3,172,418  

CD Projekt SA(b)

     84,784        2,188,850  

Dino Polska SA*(a)

     60,703        5,510,833  

LPP SA

     956        2,125,899  

Santander Bank Polska SA

     37,133        2,515,155  
     

 

 

 
Total Poland

 

     17,150,699  
Russia – 0.0%

 

Evraz PLC*

     757,034        0  

HeadHunter Group PLC, ADR*

     35,535        0  

Lukoil PJSC*

     383,480        0  

Lukoil PJSC, ADR*

     91,105        0  

Magnitogorsk Iron & Steel Works PJSC, GDR*(c)

     101,979        0  

Mobile TeleSystems PJSC, ADR*

     777,676        0  

Novatek PJSC*

     1,138,580        0  

Novolipetsk Steel PJSC*

     948,540        0  

Ozon Holdings PLC, ADR*(b)

     43,104        0  

PhosAgro PJSC*

     43,175        0  

PhosAgro PJSC, GDR*(c)

     835        0  

Polyus PJSC*

     37,593        0  

Severstal PAO, GDR*(c)

     123,722        0  

Sistema PJSFC*

     4,256,200        0  

Surgutneftegas PJSC*

     7,201,040        0  

VK Co. Ltd., GDR*

     167,707        0  

X5 Retail Group NV, GDR*(c)

     166,238        0  

Yandex NV, Class A*

     402,553        0  
     

 

 

 
Total Russia

 

     0  

 

See Notes to Financial Statements.

 

WisdomTree Trust      27  


Schedule of Investments (continued)

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE)

March 31, 2023

 

 

 

Investments    Shares      Value  
Saudi Arabia – 3.2%

 

Abdullah Al Othaim Markets Co.

     18,578      $ 633,504  

Advanced Petrochemical Co.

     135,962        1,731,354  

Al Rajhi Bank

     1,396,400        27,342,462  

Alinma Bank

     663,997        5,209,450  

Arab National Bank

     84,476        580,622  

Bank Al-Jazira

     259,404        1,256,351  

Bank AlBilad

     330,471        3,503,942  

Dallah Healthcare Co.

     23,492        963,787  

Dar Al Arkan Real Estate Development Co.*

     558,495        2,383,539  

Dr. Sulaiman Al Habib Medical Services Group Co.

     51,951        4,032,960  

Etihad Etisalat Co.

     405,144        4,452,191  

Jarir Marketing Co.

     34,641        1,504,245  

Mobile Telecommunications Co. Saudi Arabia*

     412,346        1,428,057  

Mouwasat Medical Services Co.

     31,382        1,964,667  

Nahdi Medical Co.

     41,634        2,047,483  

National Industrialization Co.*

     178,520        581,164  

Sahara International Petrochemical Co.

     244,544        2,465,831  

Saudi British Bank

     250,793        2,355,131  

Saudi Cement Co.

     47,438        707,709  

Saudi Research & Media Group*

     46,879        2,462,780  

Savola Group

     144,653        1,077,084  
     

 

 

 
Total Saudi Arabia

 

     68,684,313  
South Africa – 4.2%

 

Absa Group Ltd.

     398,213        4,079,874  

Anglo American Platinum Ltd.(b)

     27,333        1,469,673  

AngloGold Ashanti Ltd.

     173,565        4,220,146  

Aspen Pharmacare Holdings Ltd.

     180,574        1,864,311  

Bid Corp. Ltd.(b)

     164,432        3,693,175  

Capitec Bank Holdings Ltd.

     39,614        3,768,136  

Clicks Group Ltd.

     140,050        2,029,649  

Discovery Ltd.*

     218,919        1,720,629  

FirstRand Ltd.(b)

     2,505,615        8,526,929  

Gold Fields Ltd.

     382,519        5,109,596  

Growthpoint Properties Ltd.

     3,415,154        2,513,846  

Impala Platinum Holdings Ltd.

     360,138        3,325,428  

Mr. Price Group Ltd.

     136,616        1,110,330  

MultiChoice Group

     353,346        2,456,743  

Naspers Ltd., Class N

     95,133        17,656,427  

Nedbank Group Ltd.

     251,503        3,073,886  

Northam Platinum Holdings Ltd.*

     151,910        1,239,425  

Old Mutual Ltd.

     2,822,898        1,877,424  

Redefine Properties Ltd.

     2,301,501        472,169  

Remgro Ltd.

     329,626        2,497,485  

Sanlam Ltd.

     797,092        2,532,455  

Shoprite Holdings Ltd.

     240,847        3,017,086  

Sibanye Stillwater Ltd.(b)

     1,243,483        2,567,213  

Standard Bank Group Ltd.

     582,801        5,676,418  

Vodacom Group Ltd.

     522,276        3,592,423  

Woolworths Holdings Ltd.

     518,576        1,868,540  
     

 

 

 
Total South Africa

 

     91,959,416  
South Korea – 13.8%

 

Alteogen, Inc.*

     28,243        860,187  

Amorepacific Corp.(b)

     12,846      1,349,873  

Celltrion Healthcare Co. Ltd.

     46,244        2,138,410  

Celltrion, Inc.

     42,435        4,882,869  

CJ CheilJedang Corp.(b)

     5,037        1,261,330  

Coway Co. Ltd.

     29,515        1,190,258  

CS Wind Corp.(b)

     18,954        1,061,372  

DB Insurance Co. Ltd.

     32,175        1,851,141  

Doosan Enerbility Co. Ltd.*

     185,537        2,422,805  

Ecopro BM Co. Ltd.(b)

     22,582        3,894,196  

GS Holdings Corp.

     57,546        1,785,811  

Hana Financial Group, Inc.

     119,821        3,745,988  

Hankook Tire & Technology Co. Ltd.

     59,607        1,593,366  

Hanwha Galleria Co. Ltd.*

     54,979        89,953  

Hanwha Solutions Corp.*

     48,749        2,010,847  

HD Hyundai Co. Ltd.

     36,014        1,607,262  

HLB, Inc.*

     43,857        1,170,665  

HYBE Co. Ltd.*

     15,053        2,184,208  

Hyundai Engineering & Construction Co. Ltd.

     52,643        1,473,931  

Hyundai Glovis Co. Ltd.

     9,805        1,193,757  

Hyundai Motor Co.

     62,993        8,927,456  

Kakao Corp.

     209,644        9,839,266  

Kakao Games Corp.*(b)

     38,167        1,222,540  

KakaoBank Corp.(b)

     145,959        2,707,616  

KB Financial Group, Inc.

     145,038        5,308,646  

Kia Corp.

     119,313        7,423,553  

Korea Investment Holdings Co. Ltd.

     48,244        2,038,192  

Korea Shipbuilding & Offshore Engineering Co. Ltd.*

     27,952        1,664,001  

Korea Zinc Co. Ltd.

     5,712        2,426,344  

Korean Air Lines Co. Ltd.

     97,278        1,733,571  

Krafton, Inc.*(b)

     26,740        3,769,090  

Kumho Petrochemical Co. Ltd.(b)

     11,940        1,317,954  

L&F Co. Ltd.(b)

     10,544        2,539,113  

LG Chem Ltd.

     16,667        9,115,416  

LG Corp.

     47,195        3,001,687  

LG Electronics, Inc.

     43,571        3,858,921  

LG Energy Solution Ltd.*(b)

     15,614        7,004,322  

LG H&H Co. Ltd.

     3,338        1,538,426  

LG Innotek Co. Ltd.

     6,291        1,307,152  

LG Uplus Corp.

     219,922        1,829,516  

NAVER Corp.

     109,901        17,052,657  

NCSoft Corp.

     10,410        2,970,630  

Pearl Abyss Corp.*

     25,712        913,454  

POSCO Chemical Co. Ltd.

     12,884        2,696,847  

POSCO Holdings, Inc.

     30,329        8,573,240  

Samsung Biologics Co. Ltd.*(a)

     8,901        5,387,708  

Samsung C&T Corp.

     43,837        3,643,402  

Samsung Electro-Mechanics Co. Ltd.

     24,003        2,815,423  

Samsung Electronics Co. Ltd.

     1,834,924        90,206,349  

Samsung Engineering Co. Ltd.*

     74,814        1,821,718  

Samsung Fire & Marine Insurance Co. Ltd.

     14,348        2,270,375  

Samsung Heavy Industries Co. Ltd.*

     448,842        1,782,474  

Samsung Life Insurance Co. Ltd.

     38,163        1,840,947  

Samsung SDI Co. Ltd.

     19,942        11,258,878  

 

See Notes to Financial Statements.

 

28   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE)

March 31, 2023

 

 

 

Investments    Shares      Value  

Samsung SDS Co. Ltd.

     19,129      $ 1,704,470  

Shinhan Financial Group Co. Ltd.

     203,026        5,512,900  

SK Hynix, Inc.

     187,017        12,727,815  

SK Innovation Co. Ltd.*

     21,007        2,893,233  

SK, Inc.

     20,162        2,671,541  

Woori Financial Group, Inc.

     300,457        2,633,341  

Yuhan Corp.

     61,002        2,371,011  
     

 

 

 
Total South Korea

 

     300,089,424  
Taiwan – 16.6%

 

Accton Technology Corp.(b)

     242,000        2,535,446  

Acer, Inc.(b)

     1,614,000        1,492,211  

Advantech Co. Ltd.

     221,000        2,692,865  

ASE Technology Holding Co. Ltd.

     1,514,062        5,594,284  

Asia Cement Corp.

     1,601,000        2,276,814  

Asustek Computer, Inc.(b)

     310,000        2,774,448  

AUO Corp.

     3,315,200        2,003,438  

Catcher Technology Co. Ltd.

     332,000        2,071,763  

Cathay Financial Holding Co. Ltd.

     3,674,425        5,044,452  

Cheng Shin Rubber Industry Co. Ltd.

     1,303,000        1,564,156  

China Development Financial Holding Corp.(b)

     7,720,000        3,182,068  

Chroma ATE, Inc.

     249,000        1,451,597  

Compal Electronics, Inc.(b)

     1,764,000        1,462,879  

CTBC Financial Holding Co. Ltd.

     7,503,672        5,384,850  

Delta Electronics, Inc.

     753,500        7,449,002  

E.Sun Financial Holding Co. Ltd.

     6,138,291        5,100,542  

Eclat Textile Co. Ltd.(b)

     114,000        1,853,354  

Eva Airways Corp.(b)

     1,147,000        1,011,477  

Evergreen Marine Corp. Taiwan Ltd.(b)

     393,800        2,049,998  

Far Eastern International Bank

     715        261  

Far Eastern New Century Corp.(b)

     2,229,080        2,291,492  

Far EasTone Telecommunications Co. Ltd.(b)

     1,156,000        2,855,118  

Feng TAY Enterprise Co. Ltd.

     311,000        1,971,361  

Formosa Chemicals & Fibre Corp.

     1,790,000        4,062,370  

Formosa Petrochemical Corp.(b)

     739,000        2,063,059  

Formosa Plastics Corp.

     1,878,000        5,662,219  

Fubon Financial Holding Co. Ltd.(b)

     3,354,118        6,224,080  

Giant Manufacturing Co. Ltd.(b)

     195,853        1,132,117  

Great Wall Enterprise Co. Ltd.

     11,592        19,455  

Hiwin Technologies Corp.(b)

     222,752        1,832,642  

Hon Hai Precision Industry Co. Ltd.

     4,616,068        15,767,175  

Hotai Motor Co. Ltd.

     194,000        4,090,582  

Innolux Corp.

     6,465,765        3,079,189  

Inventec Corp.

     1,504,000        1,578,218  

Largan Precision Co. Ltd.(b)

     40,000        2,857,377  

Lien Hwa Industrial Holdings Corp.

     105        193  

Lite-On Technology Corp.

     900,000        2,166,680  

Lotes Co. Ltd.

     50,272        1,515,714  

MediaTek, Inc.

     625,000        16,154,857  

Merida Industry Co. Ltd.

     137,000        758,174  

Micro-Star International Co. Ltd.(b)

     366,000        1,730,980  

momo.com, Inc.

     200        5,932  

Nan Ya Plastics Corp.

     2,362,000        6,012,152  

Nanya Technology Corp.(b)

     636,000        1,389,080  

Novatek Microelectronics Corp.(b)

     236,000      3,344,577  

Pegatron Corp.

     747,000        1,710,022  

Pou Chen Corp.

     1,942,000        1,989,996  

Powerchip Semiconductor Manufacturing Corp.(b)

     1,472,000        1,600,236  

President Chain Store Corp.

     263,000        2,327,892  

Quanta Computer, Inc.

     1,154,000        3,377,006  

Realtek Semiconductor Corp.(b)

     233,000        2,965,350  

Ruentex Development Co. Ltd.(b)

     917,000        1,064,651  

Shanghai Commercial & Savings Bank Ltd.(b)

     2,280,159        3,516,002  

Shin Kong Financial Holding Co. Ltd.

     7,411,000        2,049,450  

SinoPac Financial Holdings Co. Ltd.

     6,189,643        3,374,598  

Synnex Technology International Corp.

     714,000        1,437,497  

TA Chen Stainless Pipe(b)

     858,610        1,283,086  

Taishin Financial Holding Co. Ltd.

     5,700,494        3,107,914  

Taiwan Mobile Co. Ltd.

     1,274,000        4,226,094  

Taiwan Semiconductor Manufacturing Co. Ltd.

     8,130,000        142,320,059  

Tatung Co. Ltd.*(b)

     1,101,000        1,193,300  

Uni-President Enterprises Corp.

     2,019,160        4,768,129  

Unimicron Technology Corp.(b)

     567,000        2,746,777  

United Microelectronics Corp.*(b)

     4,923,000        8,553,303  

Voltronic Power Technology Corp.

     36,000        2,045,488  

Walsin Lihwa Corp.(b)

     1,226,977        1,964,533  

Wan Hai Lines Ltd.(b)

     523,750        1,178,319  

Winbond Electronics Corp.(b)

     1,945,000        1,692,832  

Wistron Corp.

     1,487,000        2,043,877  

Wiwynn Corp.(b)

     49,000        1,810,493  

WPG Holdings Ltd.(b)

     915,000        1,508,597  

Yageo Corp.(b)

     247,847        4,306,136  

Yuanta Financial Holding Co. Ltd.

     6,053,817        4,443,807  
     

 

 

 
Total Taiwan

 

     360,166,142  
Thailand – 2.5%

 

Advanced Info Service PCL, NVDR

     1,113,300        6,902,167  

Bangkok Expressway & Metro PCL, NVDR

     4,876,600        1,262,112  

BTS Group Holdings PCL, NVDR

     6,869,000        1,426,229  

Bumrungrad Hospital PCL, NVDR

     342,300        2,262,313  

Carabao Group PCL, NVDR(b)

     479,600        1,342,936  

Central Pattana PCL, NVDR

     1,343,200        2,700,541  

Central Retail Corp. PCL, NVDR

     2,358,183        3,086,085  

CP ALL PCL, NVDR

     4,066,500        7,373,096  

Delta Electronics Thailand PCL, NVDR(b)

     238,900        7,978,471  

Energy Absolute PCL, NVDR

     1,180,900        2,624,606  

Gulf Energy Development PCL, NVDR

     3,647,600        5,626,872  

Home Product Center PCL, NVDR(b)

     4,348,500        1,831,215  

Indorama Ventures PCL, NVDR

     2,441,300        2,463,075  

Intouch Holdings PCL, NVDR(b)

     1,449,600        3,137,020  

Minor International PCL, NVDR*

     1,977,800        1,865,303  

True Corp. PCL, NVDR

     13,353,694        3,280,334  
     

 

 

 
Total Thailand

 

     55,162,375  
Turkey – 0.6%

 

Akbank TAS

     3,159,579        2,788,396  

BIM Birlesik Magazalar AS

     248,956        1,928,614  

Enka Insaat ve Sanayi AS

     1,030,493        1,572,985  

 

See Notes to Financial Statements.

 

WisdomTree Trust      29  


Schedule of Investments (concluded)

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (XSOE)

March 31, 2023

 

 

 

Investments    Shares      Value  

KOC Holding AS

     575,847      $ 2,294,988  

Turkcell Iletisim Hizmetleri AS

     802,774        1,337,469  

Turkiye Petrol Rafinerileri AS

     67,079        1,852,492  

Turkiye Sise ve Cam Fabrikalari AS

     800,494        1,764,882  
     

 

 

 
Total Turkey

 

     13,539,826  
United States – 0.1%

 

Legend Biotech Corp., ADR*(b)      29,897        1,441,633  

TOTAL COMMON STOCKS

(Cost: $2,270,870,652)

 

 

     2,166,542,277  
RIGHTS – 0.0%

 

Brazil – 0.0%

 

Localiza Rent a Car SA, expiring 5/11/23*

(Cost: $0)

     2,015        5,218  
      Principal
Amount
         
CORPORATE BONDS – 0.0%

 

India – 0.0%

 

Britannia Industries Ltd.
5.50%, 6/3/24, Series N3

(Cost: $45,084)

     3,280,857  INR        38,926  
      Shares          
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 2.0%

 

United States – 2.0%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(d)

(Cost: $44,021,109)

     44,021,109        44,021,109  

TOTAL INVESTMENTS IN SECURITIES – 101.8%

(Cost: $2,314,936,845)

 

 

     2,210,607,530  

Other Assets less Liabilities – (1.8)%

 

     (40,080,725
     

 

 

 
NET ASSETS – 100.0%

 

   $ 2,170,526,805  
* 

Non-income producing security.

 

 

This security is being fair valued using significant unobservable inputs (i.e., Level 3 on the fair value hierarchy) by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust. The aggregate value of Level 3 fair valued securities is $1,326,973, which represents 0.06% of net assets.

 

(a) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(b) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $140,454,471 and the total market value of the collateral held by the Fund was $153,490,635. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $109,469,526.

 

(c) 

This security is exempt from registration under Regulation S of the Securities Act of 1933, which exempts from registration securities offered and sold outside the United States. This security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933.

 

(d) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 – Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

        

Investments in Securities

 

Common Stocks

           

China

   $ 633,856,841      $      $ 535,348 *     $ 634,392,189  

Indonesia

     53,485,870               791,625 *       54,277,495  

Russia

                   0 *       0  

Other

     1,477,872,593                      1,477,872,593  

Rights

     5,218                      5,218  

Corporate Bonds

            38,926               38,926  

Investment of Cash Collateral for Securities Loaned

            44,021,109               44,021,109  

Total Investments in Securities

   $ 2,165,220,522      $ 44,060,035      $ 1,326,973      $ 2,210,607,530  
* 

Fair valuations using significant unobservable inputs were determined by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust.

 

See Notes to Financial Statements.

 

30   WisdomTree Trust


Schedule of Investments

WisdomTree Emerging Markets High Dividend Fund (DEM)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.3%

 

Brazil – 12.4%

 

Banco do Brasil SA

     2,311,345      $ 17,828,845  

Banco Santander Brasil SA

     316,741        1,674,209  

BB Seguridade Participacoes SA

     859,814        5,513,052  

BrasilAgro – Co. Brasileira de Propriedades Agricolas

     143,227        680,789  

Caixa Seguridade Participacoes SA

     490,677        851,626  

Cia de Saneamento do Parana

     465,407        1,662,348  

Cia Paranaense de Energia, UNIT

     315,110        2,119,896  

CPFL Energia SA

     557,529        3,480,261  

Dexco SA

     847,828        983,231  

EDP – Energias do Brasil SA

     661,743        2,915,702  

Energisa SA

     394,871        3,129,218  

Engie Brasil Energia SA

     427,685        3,388,414  

Grendene SA

     423,473        600,517  

JBS SA

     1,753,144        6,172,007  

Kepler Weber SA

     237,598        830,849  

Klabin SA

     717,059        2,558,374  

Mahle Metal Leve SA

     91,116        548,466  

Movida Participacoes SA

     261,257        416,857  

Petroleo Brasileiro SA

     12,850,605        67,139,200  

Porto Seguro SA

     139,347        646,406  

Santos Brasil Participacoes SA

     1,136,648        1,820,341  

Sao Martinho SA

     250,313        1,333,949  

SIMPAR SA

     310,956        458,745  

SLC Agricola SA

     105,407        947,785  

Telefonica Brasil SA

     779,865        5,946,370  

Transmissora Alianca de Energia Eletrica SA

     969,153        6,657,581  

Vale SA

     7,903,556        125,156,849  
     

 

 

 
Total Brazil

 

     265,461,887  
Chile – 1.1%

 

Aguas Andinas SA, Class A

     4,125,841        1,175,740  

Banco de Chile

     48,688,501        4,754,243  

Banco Santander Chile

     58,480,065        2,607,382  

Cencosud SA

     1,723,790        3,348,986  

Empresa Nacional de Telecomunicaciones SA

     390,847        1,549,823  

Empresas COPEC SA

     904,368        6,417,202  

Quinenco SA

     811,099        3,154,690  

Ripley Corp. SA

     3,323,891        711,857  
     

 

 

 
Total Chile

 

     23,719,923  
China – 24.8%

 

A-Living Smart City Services Co. Ltd.(a)(b)

     1,033,500        896,583  

Agricultural Bank of China Ltd., Class A

     7,215,900        3,267,871  

Agricultural Bank of China Ltd., Class H

     25,481,000        9,445,883  

Angang Steel Co. Ltd., Class A

     1,095,200        473,657  

Anhui Conch Cement Co. Ltd., Class A

     439,600        1,808,382  

Anhui Conch Cement Co. Ltd., Class H

     2,475,000        8,575,851  

Anhui Expressway Co. Ltd., Class H

     1,158,000        1,166,858  

BAIC Motor Corp. Ltd., Class H(a)

     4,241,500        1,177,902  

Bank of Beijing Co. Ltd., Class A

     2,425,349        1,553,964  

Bank of China Ltd., Class A

     4,895,200        2,409,357  

Bank of China Ltd., Class H

     104,658,000        40,130,266  

Bank of Chongqing Co. Ltd., Class A

     664,895      698,075  

Bank of Communications Co. Ltd., Class A

     3,804,900        2,831,249  

Bank of Communications Co. Ltd., Class H

     28,930,000        18,205,746  

Bank of Guiyang Co. Ltd., Class A

     1,166,100        935,624  

Bank of Jiangsu Co. Ltd., Class A

     1,722,070        1,760,362  

Bank of Shanghai Co. Ltd., Class A

     1,291,002        1,126,076  

Beijing Jingneng Clean Energy Co. Ltd., Class H

     2,166,000        515,980  

BOE Technology Group Co. Ltd., Class A

     7,434,700        4,806,848  

China Cinda Asset Management Co. Ltd., Class H

     12,922,000        1,629,664  

China CITIC Bank Corp. Ltd., Class H

     14,102,000        7,095,956  

China Communications Services Corp. Ltd., Class H

     3,656,000        1,797,739  

China Conch Venture Holdings Ltd.

     1,676,000        2,925,012  

China Construction Bank Corp., Class A

     1,187,400        1,027,064  

China Construction Bank Corp., Class H

     107,530,054        69,723,753  

China East Education Holdings Ltd.(a)

     960,500        567,739  

China Everbright Bank Co. Ltd., Class A

     2,669,400        1,170,022  

China Everbright Bank Co. Ltd., Class H

     2,769,000        839,524  

China Galaxy Securities Co. Ltd., Class H

     5,531,000        2,783,132  

China Life Insurance Co. Ltd., Class H

     4,660,000        7,657,883  

China Medical System Holdings Ltd.

     1,511,000        2,386,818  

China Merchants Securities Co. Ltd., Class H(a)(b)

     437,200        418,824  

China Minsheng Banking Corp. Ltd., Class A

     2,823,000        1,418,221  

China Minsheng Banking Corp. Ltd., Class H(b)

     7,367,000        2,524,504  

China Nonferrous Mining Corp. Ltd.

     1,848,000        873,392  

China Pacific Insurance Group Co. Ltd., Class H

     1,888,600        5,016,250  

China Petroleum & Chemical Corp., Class A

     6,893,100        5,641,114  

China Petroleum & Chemical Corp., Class H

     53,254,000        31,477,724  

China Railway Group Ltd., Class H

     4,642,000        2,832,525  

China Reinsurance Group Corp., Class H

     5,554,000        389,136  

China Risun Group Ltd.

     1,619,000        738,351  

China Shenhua Energy Co. Ltd., Class A

     1,077,400        4,419,547  

China Shenhua Energy Co. Ltd., Class H

     10,598,500        33,348,359  

China Suntien Green Energy Corp. Ltd., Class H

     2,214,000        967,397  

China Vanke Co. Ltd., Class A

     1,254,300        2,783,559  

China Vanke Co. Ltd., Class H

     2,452,300        3,867,474  

China Yongda Automobiles Services Holdings Ltd.

     3,014,000        2,142,449  

Chongqing Rural Commercial Bank Co. Ltd., Class A

     1,339,500        715,851  

Chongqing Rural Commercial Bank Co. Ltd., Class H

     2,733,000        995,724  

COSCO Shipping Holdings Co. Ltd., Class A

     2,161,566        3,471,826  

COSCO Shipping Holdings Co. Ltd., Class H(b)

     7,071,000        7,953,800  

CSC Financial Co. Ltd., Class H(a)

     833,500        812,269  

Daan Gene Co. Ltd., Class A

     433,540        1,017,041  

Excellence Commercial Property & Facilities Management Group Ltd.(b)

     1,002,000        377,827  

 

See Notes to Financial Statements.

 

WisdomTree Trust      31  


Schedule of Investments (continued)

WisdomTree Emerging Markets High Dividend Fund (DEM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Fangda Special Steel Technology Co. Ltd., Class A

     867,700      $ 707,574  

FAW Jiefang Group Co. Ltd., Class A

     416,300        503,151  

Focus Media Information Technology Co. Ltd., Class A

     3,377,047        3,378,375  

Foxconn Industrial Internet Co. Ltd., Class A*

     1,027,600        2,576,744  

Fufeng Group Ltd.

     2,821,000        1,627,925  

G-bits Network Technology Xiamen Co. Ltd., Class A

     9,700        673,419  

Gemdale Corp., Class A

     894,509        1,094,153  

GF Securities Co. Ltd., Class H

     766,600        1,085,942  

Gree Electric Appliances, Inc. of Zhuhai, Class A

     1,423,300        7,616,716  

Guangdong Provincial Expressway Development Co. Ltd., Class A

     466,816        513,224  

Guotai Junan Securities Co. Ltd., Class H(a)

     1,136,000        1,380,574  

Haitong Securities Co. Ltd., Class H

     2,062,000        1,287,116  

Hengli Petrochemical Co. Ltd., Class A

     435,200        1,026,639  

Huatai Securities Co. Ltd., Class H(a)

     929,800        1,062,466  

Huaxia Bank Co. Ltd., Class A

     1,119,700        877,199  

Hunan Valin Steel Co. Ltd., Class A

     1,176,700        954,410  

Industrial & Commercial Bank of China Ltd., Class A

     4,187,200        2,719,397  

Industrial & Commercial Bank of China Ltd., Class H

     88,907,823        47,342,302  

Industrial Bank Co. Ltd., Class A

     2,803,400        6,894,911  

Jiangsu Expressway Co. Ltd., Class H

     2,103,727        1,961,704  

Jizhong Energy Resources Co. Ltd., Class A

     494,900        492,933  

KWG Living Group Holdings Ltd.(b)

     2,672,000        418,673  

Livzon Pharmaceutical Group, Inc., Class H

     245,300        865,586  

Longfor Group Holdings Ltd.(a)

     2,534,000        7,150,122  

Metallurgical Corp. of China Ltd., Class H

     3,437,000        888,809  

Nanjing Iron & Steel Co. Ltd., Class A

     1,789,300        1,013,554  

NetDragon Websoft Holdings Ltd.

     528,500        927,742  

New China Life Insurance Co. Ltd., Class A

     121,100        537,846  

PetroChina Co. Ltd., Class A

     2,983,900        2,572,290  

PetroChina Co. Ltd., Class H

     57,170,000        33,865,248  

PICC Property & Casualty Co. Ltd., Class H

     5,434,000        5,544,792  

Ping An Insurance Group Co. of China Ltd., Class A*

     951,200        6,316,124  

Ping An Insurance Group Co. of China Ltd., Class H

     4,149,500        27,011,567  

Postal Savings Bank of China Co. Ltd., Class A

     966,000        654,100  

Postal Savings Bank of China Co. Ltd., Class H(a)(b)

     5,134,000        3,047,719  

Shaanxi Coal Industry Co. Ltd., Class A

     1,091,400        3,232,577  

Shanghai Construction Group Co. Ltd., Class A

     1,203,300        478,355  

Shanghai Pudong Development Bank Co. Ltd., Class A

     1,677,300        1,756,118  

Shenzhen Expressway Corp. Ltd., Class H

     1,946,000        1,730,340  

Shui On Land Ltd.

     7,837,500        948,493  

Sinopec Engineering Group Co. Ltd., Class H

     4,304,500        2,138,555  

Sinotrans Ltd., Class H

     4,127,000        1,277,538  

Tangshan Jidong Cement Co. Ltd., Class A

     453,200      572,827  

TangShan Port Group Co. Ltd., Class A

     2,411,600        1,088,632  

Tingyi Cayman Islands Holding Corp.(b)

     3,422,000        5,701,917  

Uni-President China Holdings Ltd.

     1,759,000        1,774,697  

West China Cement Ltd.

     5,228,000        639,352  

Xiamen ITG Group Corp. Ltd., Class A

     412,800        518,156  

Xinte Energy Co. Ltd., Class H(b)

     524,800        1,350,449  

Xinyi Energy Holdings Ltd.(b)

     2,718,000        817,136  

Yankuang Energy Group Co. Ltd., Class H(b)

     3,116,000        11,154,160  

Zangge Mining Co. Ltd., Class A

     181,300        637,836  

Zhejiang Expressway Co. Ltd., Class H

     2,266,000        1,801,265  

Zhejiang Jiahua Energy Chemical Industry Co. Ltd., Class A

     464,700        588,039  

Zhuzhou Kibing Group Co. Ltd., Class A

     555,700        843,993  

Zoomlion Heavy Industry Science & Technology Co. Ltd., Class A

     1,148,900        1,038,934  
     

 

 

 
Total China

 

     532,274,419  
Czech Republic – 0.9%

 

CEZ AS(b)

     323,633        15,740,657  

Komercni Banka AS(b)

     59,726        1,983,137  

Moneta Money Bank AS(a)

     504,503        2,031,189  
     

 

 

 
Total Czech Republic

 

     19,754,983  
India – 5.0%

 

Bharat Petroleum Corp. Ltd.

     1,136,459        4,761,145  

Castrol India Ltd.

     644,284        869,812  

CESC Ltd.

     852,173        691,112  

Coal India Ltd.

     5,343,842        13,892,396  

GAIL India Ltd.

     6,679,701        8,546,474  

Hindustan Petroleum Corp. Ltd.

     996,179        2,870,382  

Indian Oil Corp. Ltd.

     10,222,906        9,690,194  

Indus Towers Ltd.

     1,537,715        2,675,670  

Mindspace Business Parks REIT(a)

     330,524        1,315,540  

National Aluminium Co. Ltd.

     1,701,570        1,623,254  

NHPC Ltd.

     6,414,135        3,137,508  

NMDC Ltd.

     2,845,723        3,862,628  

Oil & Natural Gas Corp. Ltd.

     7,130,588        13,105,896  

Oil India Ltd.

     616,447        1,887,615  

Oracle Financial Services Software Ltd.

     30,517        1,211,935  

Petronet LNG Ltd.

     1,460,486        4,066,951  

Power Grid Corp. of India Ltd.

     6,812,674        18,709,829  

SJVN Ltd.

     1,767,929        715,282  

Steel Authority of India Ltd.

     3,521,025        3,543,197  

Vardhman Textiles Ltd.

     226,389        809,058  

Vedanta Ltd.

     2,749,184        9,180,952  
     

 

 

 
Total India

 

     107,166,830  
Indonesia – 1.3%

 

Adaro Energy Indonesia Tbk PT

     38,894,700        7,522,400  

Astra Agro Lestari Tbk PT

     846,600        457,332  

Bukit Asam Tbk PT

     15,901,800        4,231,430  

Erajaya Swasembada Tbk PT

     14,663,500        508,521  

Gudang Garam Tbk PT

     1,168,700        2,026,490  

Hanjaya Mandala Sampoerna Tbk PT

     17,250,400        1,294,255  

Indo Tambangraya Megah Tbk PT

     1,402,800        3,686,040  

 

See Notes to Financial Statements.

 

32   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Emerging Markets High Dividend Fund (DEM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Indocement Tunggal Prakarsa Tbk PT

     2,311,100      $ 1,622,217  

Indosat Tbk PT

     5,782,700        2,680,300  

Industri Jamu Dan Farmasi Sido Muncul Tbk PT

     13,953,700        809,611  

Matahari Department Store Tbk PT

     3,608,800        1,186,527  

Perusahaan Gas Negara Tbk PT

     24,100,500        2,218,059  

Puradelta Lestari Tbk PT

     44,366,700        503,007  
     

 

 

 
Total Indonesia

 

     28,746,189  
Malaysia – 2.3%

 

Astro Malaysia Holdings Bhd

     5,900,500        929,370  

British American Tobacco Malaysia Bhd

     381,200        938,206  

Bursa Malaysia Bhd

     492,600        713,363  

Malayan Banking Bhd

     6,070,483        11,790,151  

MISC Bhd

     1,819,600        2,977,340  

Petronas Chemicals Group Bhd

     5,631,300        9,022,842  

Petronas Gas Bhd

     1,271,700        4,749,601  

RHB Bank Bhd

     5,416,300        6,849,395  

Sime Darby Bhd

     4,669,700        2,275,321  

Sime Darby Plantation Bhd

     3,868,900        3,743,955  

Ta Ann Holdings Bhd

     959,999        687,501  

TIME dotCom Bhd

     2,571,500        3,234,408  

United Plantations Bhd

     624,600        2,321,459  
     

 

 

 
Total Malaysia

 

     50,232,912  
Mexico – 3.3%

 

Alfa SAB de CV, Class A

     6,931,046        4,383,725  

Alpek SAB de CV(b)

     934,938        1,036,634  

Banco del Bajio SA(a)

     1,522,337        5,530,866  

Bolsa Mexicana de Valores SAB de CV

     615,570        1,316,303  

FIBRA Macquarie Mexico(a)

     1,311,739        2,077,743  

Fibra Uno Administracion SA de CV

     7,061,721        9,844,014  

Genomma Lab Internacional SAB de CV, Class B(b)

     1,039,389        834,113  

Grupo Mexico SAB de CV, Series B

     6,301,152        29,778,318  

Kimberly-Clark de Mexico SAB de CV, Class A

     2,076,230        4,364,959  

Megacable Holdings SAB de CV, Series CPO(b)

     455,207        1,157,430  

Orbia Advance Corp. SAB de CV

     2,347,176        5,093,174  

Qualitas Controladora SAB de CV(b)

     236,258        1,508,539  

Regional SAB de CV

     178,430        1,360,558  

TF Administradora Industrial S de Real de CV

     727,975        1,340,561  
     

 

 

 
Total Mexico

 

     69,626,937  
Philippines – 0.3%

 

DMCI Holdings, Inc.

     7,169,800        1,516,651  

Manila Electric Co.

     403,080        2,305,856  

PLDT, Inc.

     124,364        3,248,356  
     

 

 

 
Total Philippines

 

     7,070,863  
Poland – 0.9%

 

Bank Polska Kasa Opieki SA

     160,322        3,180,353  

Cyfrowy Polsat SA

     424,379        1,649,030  

Polski Koncern Naftowy Orlen SA

     576,597        7,794,944  

Powszechna Kasa Oszczednosci Bank Polski SA

     956,024        6,329,036  
     

 

 

 
Total Poland

 

     18,953,363  
Russia – 0.0%

 

Evraz PLC*†

     2,288,532        0  

Magnit PJSC*†(c)

     200,622      0  

Magnitogorsk Iron & Steel Works PJSC, GDR*†(c)

     298,929        0  

MMC Norilsk Nickel PJSC*

     148,519        0  

MMC Norilsk Nickel PJSC, ADR*†

     13        0  

Mobile TeleSystems PJSC, ADR*†

     1,549,581        0  

Novolipetsk Steel PJSC*†

     5,213,400        0  

PhosAgro PJSC*

     95,795        0  

PhosAgro PJSC, GDR*†(c)

     1,853        0  

Polyus PJSC*

     35,478        0  

Polyus PJSC, GDR*†

     1        0  

Sberbank of Russia PJSC*†

     9,700,476        0  

Severstal PAO, GDR*†(c)

     775,843        0  

Tatneft PJSC*

     1,371,750        0  

Tatneft PJSC, ADR*†

     3,217        0  
     

 

 

 
Total Russia

 

     0  
Saudi Arabia – 1.0%

 

Arabian Cement Co.

     69,888        675,849  

Arabian Centres Co. Ltd.

     234,563        1,273,515  

Sahara International Petrochemical Co.

     932,041        9,398,128  

Saudi Cement Co.

     106,905        1,594,874  

Saudi Industrial Investment Group

     592,306        3,941,659  

Yanbu National Petrochemical Co.

     395,869        4,445,182  
     

 

 

 
Total Saudi Arabia

 

     21,329,207  
South Africa – 6.7%

 

Absa Group Ltd.

     667,292        6,836,711  

AECI Ltd.

     187,546        992,353  

African Rainbow Minerals Ltd.(b)

     277,886        3,612,636  

Anglo American Platinum Ltd.(b)

     110,494        5,941,174  

Astral Foods Ltd.

     77,330        688,724  

AVI Ltd.

     667,785        2,642,159  

Equites Property Fund Ltd.

     1,676,397        1,452,232  

Exxaro Resources Ltd.

     1,023,319        10,759,485  

FirstRand Ltd.(b)

     3,893,148        13,248,881  

Growthpoint Properties Ltd.

     10,666,458        7,851,427  

Hyprop Investments Ltd.

     1,076,089        1,801,316  

Impala Platinum Holdings Ltd.(b)

     1,630,419        15,054,899  

Investec Ltd.

     237,094        1,311,183  

JSE Ltd.

     105,916        584,784  

KAP Industrial Holdings Ltd.

     3,994,501        715,937  

Momentum Metropolitan Holdings(b)

     1,132,973        1,125,789  

Motus Holdings Ltd.

     364,367        1,992,030  

MultiChoice Group

     718,722        4,997,128  

Nedbank Group Ltd.

     709,480        8,671,311  

Old Mutual Ltd.

     4,682,448        3,114,155  

Redefine Properties Ltd.

     13,492,993        2,768,183  

Resilient REIT Ltd.

     999,443        2,624,999  

Royal Bafokeng Platinum Ltd.(b)

     178,540        1,442,609  

Sanlam Ltd.

     1,505,007        4,781,583  

SPAR Group Ltd.(b)

     199,717        1,585,016  

Standard Bank Group Ltd.

     1,165,980        11,356,517  

Thungela Resources Ltd.

     655,145        7,464,425  

Tiger Brands Ltd.

     174,092        1,967,532  

Truworths International Ltd.

     1,415,241        4,253,101  

Vodacom Group Ltd.

     1,662,168        11,433,055  
     

 

 

 
Total South Africa

 

     143,071,334  

 

See Notes to Financial Statements.

 

WisdomTree Trust      33  


Schedule of Investments (continued)

WisdomTree Emerging Markets High Dividend Fund (DEM)

March 31, 2023

 

 

 

Investments    Shares      Value  
South Korea – 5.9%

 

BNK Financial Group, Inc.

     367,840      $ 1,839,412  

Daishin Securities Co. Ltd.

     46,828        460,420  

DB Insurance Co. Ltd.

     58,347        3,356,908  

DGB Financial Group, Inc.

     195,660        1,037,027  

GS Engineering & Construction Corp.

     124,567        1,975,887  

Hana Financial Group, Inc.

     327,019        10,223,661  

HD Hyundai Co. Ltd.

     84,784        3,783,808  

Hyosung Corp.

     21,808        1,132,405  

iMarketKorea, Inc.

     62,098        473,659  

Industrial Bank of Korea

     380,778        2,954,148  

JB Financial Group Co. Ltd.

     136,380        915,590  

KB Financial Group, Inc.(b)

     393,801        14,413,809  

KCC Glass Corp.

     15,159        461,693  

Korea Gas Corp.*

     50,133        1,043,595  

Korean Reinsurance Co.

     107,886        602,474  

KT&G Corp.

     137,136        8,837,969  

Kumho Petrochemical Co. Ltd.

     31,975        3,529,445  

LG Uplus Corp.

     249,377        2,074,550  

LX International Corp.

     51,428        1,143,635  

LX Semicon Co. Ltd.

     16,901        1,454,017  

POSCO Holdings, Inc.

     130,638        36,928,052  

S-Oil Corp.

     59,563        3,664,782  

Samsung Fire & Marine Insurance Co. Ltd.

     26,009        4,115,569  

Seah Besteel Holdings Corp.

     12,966        225,587  

Shinhan Financial Group Co. Ltd.

     474,427        12,882,432  

SK Discovery Co. Ltd.

     8,035        195,035  

SSANGYONG C&E Co. Ltd.(b)

     213,419        1,011,480  

Woori Financial Group, Inc.

     665,003        5,828,386  
     

 

 

 
Total South Korea

 

     126,565,435  
Taiwan – 31.2%

 

Acer, Inc.(b)

     5,675,000        5,246,777  

Arcadyan Technology Corp.

     220,000        769,521  

ASE Technology Holding Co. Ltd.(b)

     8,878,000        32,803,192  

Asia Cement Corp.(b)

     4,098,000        5,827,848  

Asia Optical Co., Inc.(b)

     229,000        496,395  

Asustek Computer, Inc.(b)

     1,624,000        14,534,527  

AUO Corp.(b)

     17,865,000        10,796,157  

BES Engineering Corp.

     2,910,000        885,018  

Capital Securities Corp.(b)

     2,789,000        1,099,204  

Catcher Technology Co. Ltd.

     684,000        4,268,331  

Cathay Financial Holding Co. Ltd.(b)

     8,036,479        11,032,920  

Chang Wah Electromaterials, Inc.

     489,000        594,236  

Cheng Loong Corp.(b)

     1,292,000        1,198,752  

Chicony Electronics Co. Ltd.

     1,276,386        3,995,060  

Chicony Power Technology Co. Ltd.

     351,000        933,771  

China Development Financial Holding Corp.(b)

     14,312,000        5,899,190  

China General Plastics Corp.(b)

     1,135,000        980,392  

China Steel Corp.(b)

     40,501,000        41,102,912  

ChipMOS Technologies, Inc.

     1,230,000        1,549,240  

Chong Hong Construction Co. Ltd.

     438,000        1,127,817  

Chun Yuan Steel Industry Co. Ltd.(b)

     767,000        403,054  

Chung Hung Steel Corp.(b)

     1,857,000        1,610,142  

Chung-Hsin Electric & Machinery Manufacturing Corp.(b)

     601,000      1,867,299  

Cleanaway Co. Ltd.

     108,000        666,853  

Compal Electronics, Inc.(b)

     7,092,000        5,881,370  

Continental Holdings Corp.

     968,000        979,207  

CTBC Financial Holding Co. Ltd.

     12,051,000        8,648,144  

CTCI Corp.

     997,000        1,372,011  

Daxin Materials Corp.

     118,000        323,219  

Eastern Media International Corp.(b)

     541,000        334,044  

Edom Technology Co. Ltd.(b)

     456,000        427,582  

Elan Microelectronics Corp.

     700,000        2,294,441  

Elite Material Co. Ltd.(b)

     344,000        2,056,261  

Elite Semiconductor Microelectronics Technology, Inc.(b)

     621,000        1,698,967  

Eternal Materials Co. Ltd.(b)

     1,087,000        1,119,220  

Everlight Electronics Co. Ltd.

     761,000        1,001,003  

Farglory Land Development Co. Ltd.

     575,000        1,070,778  

Feng Hsin Steel Co. Ltd.(b)

     716,000        1,601,432  

FLEXium Interconnect, Inc.*

     452,000        1,469,677  

Formosa Chemicals & Fibre Corp.

     5,292,000        12,010,089  

Formosa International Hotels Corp.(b)

     112,000        1,026,291  

Formosa Plastics Corp.

     11,737,000        35,387,359  

Formosan Union Chemical(b)

     898,000        743,233  

Fubon Financial Holding Co. Ltd.(b)

     8,572,668        15,907,899  

Fusheng Precision Co. Ltd.

     160,000        1,192,873  

Getac Holdings Corp.(b)

     735,000        1,291,485  

Gigabyte Technology Co. Ltd.

     1,182,000        5,182,593  

Global Mixed Mode Technology, Inc.(b)

     157,000        930,733  

Goldsun Building Materials Co. Ltd.

     2,048,000        1,876,647  

Greatek Electronics, Inc.(b)

     978,000        1,712,042  

Highwealth Construction Corp.(b)

     2,302,817        3,112,273  

Holtek Semiconductor, Inc.(b)

     396,000        961,143  

Holy Stone Enterprise Co. Ltd.

     217,000        716,266  

Hon Hai Precision Industry Co. Ltd.

     11,332,000        38,706,889  

Hsin Kuang Steel Co. Ltd.(b)

     615,000        968,528  

Huaku Development Co. Ltd.

     417,000        1,273,701  

Huang Hsiang Construction Corp.(b)

     527,000        785,805  

Hung Sheng Construction Ltd.

     506,000        381,401  

IBF Financial Holdings Co. Ltd.

     1,919,748        778,681  

Innolux Corp.(b)

     18,174,000        8,654,996  

Inventec Corp.

     4,012,000        4,209,981  

ITE Technology, Inc.

     233,000        687,196  

ITEQ Corp.(b)

     493,000        1,267,818  

Kindom Development Co. Ltd.

     1,163,000        1,145,907  

King Yuan Electronics Co. Ltd.(b)

     3,183,000        5,070,219  

King’s Town Bank Co. Ltd.(b)

     452,000        523,294  

KMC Kuei Meng International, Inc.(b)

     33,000        154,988  

Lelon Electronics Corp.

     151,000        325,334  

Lite-On Technology Corp.(b)

     3,187,000        7,672,456  

Longchen Paper & Packaging Co. Ltd.(b)

     1,227,453        683,318  

Macronix International Co. Ltd.(b)

     3,000,000        3,453,485  

MediaTek, Inc.

     3,474,000        89,795,156  

Micro-Star International Co. Ltd.(b)

     2,030,000        9,600,788  

Mirle Automation Corp.

     400,000        499,877  

 

See Notes to Financial Statements.

 

34   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Emerging Markets High Dividend Fund (DEM)

March 31, 2023

 

 

 

Investments    Shares      Value  

Namchow Holdings Co. Ltd.

     233,000      $ 360,816  

Nan Ya Plastics Corp.(b)

     17,528,000        44,615,157  

Nanya Technology Corp.(b)

     1,620,000        3,538,222  

Nichidenbo Corp.

     465,000        907,168  

Novatek Microelectronics Corp.(b)

     1,153,000        16,340,241  

Pegatron Corp.(b)

     3,541,000        8,106,009  

Powerchip Semiconductor Manufacturing Corp.(b)

     3,761,000        4,088,648  

Powertech Technology, Inc.

     1,753,000        5,239,281  

President Securities Corp.

     1,011,000        534,596  

Primax Electronics Ltd.(b)

     669,000        1,327,124  

Promate Electronic Co. Ltd.

     544,000        746,833  

Qisda Corp.

     2,674,000        2,783,999  

Quanta Computer, Inc.(b)

     5,124,990        14,997,507  

Raydium Semiconductor Corp.(b)

     125,000        1,699,647  

Realtek Semiconductor Corp.(b)

     990,000        12,599,557  

Shin Kong Financial Holding Co. Ltd.(b)

     7,642,776        2,113,545  

Sigurd Microelectronics Corp.

     748,000        1,373,288  

Sitronix Technology Corp.(b)

     209,000        1,630,265  

Standard Foods Corp.(b)

     729,000        978,066  

Stark Technology, Inc.

     155,000        490,746  

Supreme Electronics Co. Ltd.

     787,539        1,152,307  

Synnex Technology International Corp.

     2,785,000        5,607,045  

Systex Corp.

     450,000        1,164,628  

T3EX Global Holdings Corp.(b)

     227,000        583,017  

Taita Chemical Co. Ltd.(b)

     542,200        377,523  

Taiwan Cogeneration Corp.(b)

     403,000        563,187  

Taiwan Glass Industry Corp.(b)

     2,205,000        1,488,226  

Taiwan Hon Chuan Enterprise Co. Ltd.(b)

     507,000        1,618,537  

Taiwan Paiho Ltd.

     438,000        848,740  

Taiwan PCB Techvest Co. Ltd.

     691,000        939,565  

Taiwan Sakura Corp.

     214,000        448,418  

Taiwan Secom Co. Ltd.

     429,000        1,486,477  

Taiwan Surface Mounting Technology Corp.

     424,000        1,353,569  

Taiwan-Asia Semiconductor Corp.(b)

     608,000        774,789  

Test Research, Inc.(b)

     400,000        834,223  

Ton Yi Industrial Corp.

     1,129,000        715,648  

Tong Hsing Electronic Industries Ltd.

     128,700        839,049  

Topco Scientific Co. Ltd.

     394,435        2,448,418  

Transcend Information, Inc.

     333,000        799,484  

Tripod Technology Corp.

     737,000        2,711,027  

TSRC Corp.

     1,050,000        972,494  

Tung Ho Steel Enterprise Corp.(b)

     1,047,000        1,925,675  

TXC Corp.(b)

     751,000        2,195,221  

U-Ming Marine Transport Corp.(b)

     745,000        1,365,334  

United Integrated Services Co. Ltd.

     343,000        2,382,609  

United Microelectronics Corp.*(b)

     18,824,000        32,705,135  

Universal Cement Corp.

     912,000        793,760  

USI Corp.

     1,658,000        1,443,041  

Visual Photonics Epitaxy Co. Ltd.(b)

     343,000        1,039,786  

Wah Lee Industrial Corp.

     164,000        471,842  

Walsin Technology Corp.(b)

     476,000        1,511,756  

Weikeng Industrial Co. Ltd.

     922,000        906,935  

Wistron Corp.

     5,678,561        7,805,166  

WPG Holdings Ltd.(b)

     2,339,280        3,856,864  

WT Microelectronics Co. Ltd.

     501,000      1,112,328  

Yang Ming Marine Transport Corp.(b)

     4,927,000        10,404,995  

YC INOX Co. Ltd.(b)

     547,000        529,978  

YFY, Inc.

     1,552,000        1,353,333  

Yuanta Financial Holding Co. Ltd.

     9,191,810        6,747,252  
     

 

 

 
Total Taiwan

 

     669,404,804  
Thailand – 1.9%

 

Bangkok Chain Hospital PCL, NVDR(b)

     3,426,800        2,044,355  

Banpu PCL, NVDR

     5,500,800        1,737,349  

Chularat Hospital PCL, NVDR

     13,233,800        1,400,975  

Dynasty Ceramic PCL, NVDR(b)

     12,597,000        854,658  

IRPC PCL, NVDR

     16,633,900        1,274,479  

Kiatnakin Phatra Bank PCL, NVDR

     545,400        1,008,819  

Land & Houses PCL, NVDR(b)

     9,333,100        2,688,435  

Major Cineplex Group PCL, NVDR

     1,160,400        573,498  

Northeast Rubber PCL, NVDR(b)

     2,939,425        511,466  

Polyplex Thailand PCL, NVDR

     720,387        370,780  

Precious Shipping PCL, NVDR(b)

     2,286,100        915,911  

PTT Global Chemical PCL, NVDR

     2,455,900        3,285,785  

PTT PCL, NVDR

     17,654,400        16,263,009  

Quality Houses PCL, NVDR

     10,537,500        745,745  

Ratch Group PCL, NVDR

     777,600        875,496  

Regional Container Lines PCL, NVDR(b)

     838,800        650,042  

Somboon Advance Technology PCL, NVDR(b)

     855,300        475,236  

Star Petroleum Refining PCL, NVDR(b)

     6,058,900        1,913,617  

Thanachart Capital PCL, NVDR

     1,084,900        1,451,504  

TTW PCL, NVDR

     2,830,177        724,201  
     

 

 

 
Total Thailand

 

     39,765,360  
Turkey – 0.3%

 

Dogus Otomotiv Servis ve Ticaret AS

     118,010        751,895  

Ford Otomotiv Sanayi AS

     73,736        2,246,845  

Iskenderun Demir ve Celik AS*

     393,443        660,008  

Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class D

     1,209,495        1,195,948  

Tofas Turk Otomobil Fabrikasi AS

     192,821        1,875,472  

Turk Traktor ve Ziraat Makineleri AS

     24,810        647,425  
     

 

 

 
Total Turkey

 

     7,377,593  
TOTAL COMMON STOCKS
(Cost: $2,113,272,569)
              2,130,522,039  
EXCHANGE-TRADED FUND – 0.1%

 

United States – 0.1%

 

WisdomTree Global High Dividend Fund(d)

     
(Cost: $2,338,438)      48,369        2,263,456  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.9%

 

United States – 0.9%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(e)

     
(Cost: $20,017,278)      20,017,278        20,017,278  
TOTAL INVESTMENTS IN SECURITIES – 100.3%
(Cost: $2,135,628,285)

 

     2,152,802,773  

Other Assets less Liabilities – (0.3)%

 

     (6,963,182
     

 

 

 
NET ASSETS – 100.0%

 

   $ 2,145,839,591  

 

See Notes to Financial Statements.

 

WisdomTree Trust      35  


Schedule of Investments (concluded)

WisdomTree Emerging Markets High Dividend Fund (DEM)

March 31, 2023

 

* 

Non-income producing security.

 

 

This security is being fair valued using significant unobservable inputs (i.e., Level 3 on the fair value hierarchy) by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust. The aggregate value of Level 3 fair valued securities is $0, which represents 0.0% of net assets.

 

(a) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(b) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $252,846,236 and the total market value of the collateral held by the Fund was $272,668,635. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $252,651,357.

 

(c) 

This security is exempt from registration under Regulation S of the Securities Act of 1933, which exempts from registration securities offered and sold outside the United States. This security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933.

 

(d) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

(e) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate    Value at
3/31/2022
     Purchases/
Additions
     Sales/
Reductions
     Realized
Gain/(Loss)
     Change in
Unrealized
Appreciation/
Depreciation
     Value at
3/31/2023
     Dividend
Income
 

WisdomTree Global High Dividend Fund

   $ 1,246,049      $ 5,048,774      $ 3,787,577      $ (142,331    $ (101,459    $ 2,263,456      $ 51,785  

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to
be Purchased
    Amount and
Description of
Currency to
be Sold
     Unrealized
Appreciation
     Unrealized
Depreciation
 

State Street Bank and Trust

    4/3/2023       3,346,980       PHP       61,525       USD      $ 40      $  

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

           

Investments in Securities

           

Common Stocks

           

Russia

   $      $      $ 0 *     $ 0  

Other

     2,130,522,039                      2,130,522,039  

Exchange-Traded Fund

     2,263,456                      2,263,456  

Investment of Cash Collateral for Securities Loaned

            20,017,278               20,017,278  

Total Investments in Securities

   $ 2,132,785,495      $ 20,017,278      $ 0      $ 2,152,802,773  

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ 40      $      $ 40  

Total – Net

   $ 2,132,785,495      $ 20,017,318      $ 0      $ 2,152,802,813  
* 

Fair valuations using significant unobservable inputs were determined by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust.

 

1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

36   WisdomTree Trust


Schedule of Investments

WisdomTree Emerging Markets Multifactor Fund (EMMF)

March 31, 2023

 

 

 

Investments        
Shares
     Value  
COMMON STOCKS – 99.4%

 

Brazil – 5.0%

 

Ambev SA

     1,494      $ 4,222  

Banco do Brasil SA

     561        4,327  

BB Seguridade Participacoes SA

     711        4,559  

CCR SA

     2,743        6,925  

Cia de Saneamento Basico do Estado de Sao Paulo

     233        2,326  

CPFL Energia SA

     1,402        8,752  

Energisa SA

     1,069        8,471  

Engie Brasil Energia SA

     1,195        9,468  

Equatorial Energia SA

     1,590        8,454  

Hypera SA

     607        4,513  

Klabin SA

     2,139        7,632  

Sendas Distribuidora SA

     630        1,931  

Suzano SA

     942        7,729  

TIM SA

     7,016        17,408  

Vibra Energia SA

     1,735        4,931  

WEG SA

     753        6,022  
     

 

 

 
Total Brazil

 

     107,670  
Chile – 2.3%

 

Banco de Chile

     135,854        13,265  

Banco de Credito e Inversiones SA

     461        13,587  

Cencosud SA

     2,908        5,650  

Empresas CMPC SA

     4,055        6,813  

Enel Americas SA

     72,732        9,632  
     

 

 

 
Total Chile

 

     48,947  
China – 28.8%

 

3SBio, Inc.(a)

     14,500        14,445  

Anhui Gujing Distillery Co. Ltd., Class B

     500        8,924  

Bank of Chengdu Co. Ltd., Class A

     2,600        5,134  

Bank of China Ltd., Class H

     55,000        21,089  

Bank of Communications Co. Ltd., Class H

     33,000        20,767  

Bank of Jiangsu Co. Ltd., Class A

     7,700        7,871  

C&D International Investment Group Ltd.

     6,000        19,682  

China CITIC Bank Corp. Ltd., Class H

     43,000        21,637  

China Coal Energy Co. Ltd., Class H(b)

     19,000        14,401  

China Construction Bank Corp., Class H

     32,000        20,749  

China Everbright Bank Co. Ltd., Class H

     31,000        9,399  

China Resources Pharmaceutical Group Ltd.(a)

     15,500        12,282  

China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Class A

     400        3,346  

COSCO Shipping Development Co. Ltd., Class A

     5,600        2,014  

Daan Gene Co. Ltd., Class A

     1,200        2,815  

Daqin Railway Co. Ltd., Class A

     4,200        4,397  

Daqo New Energy Corp., ADR*

     457        21,406  

East Buy Holding Ltd.*(a)(b)

     3,000        12,936  

ENN Natural Gas Co. Ltd., Class A

     2,300        6,983  

Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Class A

     400        1,927  

Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A

     200        2,566  

Heilongjiang Agriculture Co. Ltd., Class A

     1,000        1,954  

Hengan International Group Co. Ltd.

     3,000        13,873  

Huaibei Mining Holdings Co. Ltd., Class A

     1,200      2,369  

Hubei Jumpcan Pharmaceutical Co. Ltd., Class A

     700        2,903  

Hubei Xingfa Chemicals Group Co. Ltd., Class A

     400        1,774  

Industrial & Commercial Bank of China Ltd., Class H

     39,000        20,767  

Inner Mongolia ERDOS Resources Co. Ltd., Class A

     2,500        5,588  

Inner Mongolia Yitai Coal Co. Ltd., Class B

     10,300        15,131  

JCET Group Co. Ltd., Class A

     1,500        7,088  

Joincare Pharmaceutical Group Industry Co. Ltd., Class A

     3,300        6,329  

Jointown Pharmaceutical Group Co. Ltd., Class A

     2,200        4,786  

Lenovo Group Ltd.

     24,000        25,987  

People’s Insurance Co. Group of China Ltd., Class H

     60,000        20,026  

PetroChina Co. Ltd., Class H

     36,000        21,325  

PICC Property & Casualty Co. Ltd., Class H

     22,000        22,448  

Shaanxi Coal Industry Co. Ltd., Class A

     1,800        5,331  

Shandong Buchang Pharmaceuticals Co. Ltd., Class A

     800        2,311  

Shandong Weigao Group Medical Polymer Co. Ltd., Class H

     10,800        17,253  

Shanghai Baosight Software Co. Ltd., Class B

     5,040        16,642  

Shanxi Lu’an Environmental Energy Development Co. Ltd., Class A

     1,600        5,112  

Shenzhen New Industries Biomedical Engineering Co. Ltd., Class A

     300        2,672  

Sichuan Kelun Pharmaceutical Co. Ltd., Class A

     900        3,725  

Sichuan Road & Bridge Group Co. Ltd., Class A

     1,000        2,009  

Sinopharm Group Co. Ltd., Class H

     5,600        16,943  

TBEA Co. Ltd., Class A

     2,100        6,639  

Tencent Holdings Ltd.

     600        29,488  

Tingyi Cayman Islands Holding Corp.

     8,000        13,330  

Tongwei Co. Ltd., Class A

     1,100        6,233  

Vipshop Holdings Ltd., ADR*

     1,278        19,400  

Want Want China Holdings Ltd.

     21,000        13,510  

Yankuang Energy Group Co. Ltd., Class H(b)

     4,000        14,318  

Yealink Network Technology Corp. Ltd., Class A

     700        7,748  

Yum China Holdings, Inc.

     325        20,602  

Zhongji Innolight Co. Ltd., Class A

     1,300        11,150  
     

 

 

 
Total China

 

     621,534  
Czech Republic – 0.1%

 

CEZ AS

     57        2,772  
Hong Kong – 0.9%

 

Orient Overseas International Ltd.(b)

     1,000        19,134  
Hungary – 0.5%

 

MOL Hungarian Oil & Gas PLC

     1,488        10,898  
India – 13.7%

 

ABB India Ltd.

     190        7,780  

Asian Paints Ltd.

     266        8,939  

Axis Bank Ltd.

     1,216        12,703  

Bajaj Auto Ltd.

     232        10,967  

Bharat Electronics Ltd.

     2,659        3,156  

Britannia Industries Ltd.

     117        6,153  

Cipla Ltd.

     641        7,024  

Coal India Ltd.

     1,850        4,809  

 

See Notes to Financial Statements.

 

WisdomTree Trust      37  


Schedule of Investments (continued)

WisdomTree Emerging Markets Multifactor Fund (EMMF)

March 31, 2023

 

 

 

Investments        
Shares
     Value  

Colgate-Palmolive India Ltd.

     376      $ 6,896  

Dr. Reddy’s Laboratories Ltd.

     133        7,481  

Eicher Motors Ltd.

     235        8,432  

GAIL India Ltd.

     3,444        4,407  

Grasim Industries Ltd.

     472        9,377  

HCL Technologies Ltd.

     1,091        14,407  

Hero MotoCorp Ltd.

     291        8,312  

Indian Hotels Co. Ltd.

     2,217        8,750  

Indraprastha Gas Ltd.

     481        2,509  

Infosys Ltd.

     760        13,205  

ITC Ltd.

     1,181        5,511  

Mahindra & Mahindra Ltd.

     738        10,405  

Maruti Suzuki India Ltd.

     93        9,384  

Mphasis Ltd.

     500        10,925  

NTPC Ltd.

     3,271        6,969  

Oil & Natural Gas Corp. Ltd.

     2,104        3,867  

Petronet LNG Ltd.

     2,152        5,993  

Power Grid Corp. of India Ltd.

     1,844        5,064  

SBI Cards & Payment Services Ltd.

     423        3,810  

Siemens Ltd.

     224        9,069  

State Bank of India

     625        3,983  

Sun Pharmaceutical Industries Ltd.

     614        7,345  

Tata Consultancy Services Ltd.

     347        13,536  

Tech Mahindra Ltd.

     1,032        13,836  

Torrent Pharmaceuticals Ltd.

     377        7,052  

Tube Investments of India Ltd.

     197        6,105  

TVS Motor Co. Ltd.

     692        9,070  

UPL Ltd.

     1,051        9,178  

Varun Beverages Ltd.

     128        2,160  

Vedanta Ltd.

     1,845        6,161  
     

 

 

 
Total India

 

     294,730  
Indonesia – 5.0%

 

Adaro Energy Indonesia Tbk PT

     44,300        8,568  

Astra International Tbk PT

     26,300        10,524  

Bank Central Asia Tbk PT

     26,200        15,289  

Bank Negara Indonesia Persero Tbk PT

     12,100        7,545  

Bank Rakyat Indonesia Persero Tbk PT

     23,900        7,539  

Indah Kiat Pulp & Paper Tbk PT

     18,000        9,003  

Indofood CBP Sukses Makmur Tbk PT

     10,200        6,785  

Indofood Sukses Makmur Tbk PT

     16,500        6,823  

Kalbe Farma Tbk PT

     64,600        9,047  

Telkom Indonesia Persero Tbk PT

     51,000        13,809  

United Tractors Tbk PT

     6,500        12,615  
     

 

 

 
Total Indonesia

 

     107,547  
Luxembourg – 0.1%

 

Reinet Investments SCA

     159        3,272  
Malaysia – 4.1%

 

AMMB Holdings Bhd

     11,200        9,518  

Genting Malaysia Bhd

     16,500        9,909  

Hong Leong Bank Bhd

     2,200        10,081  

Hong Leong Financial Group Bhd

     2,300        9,372  

IOI Corp. Bhd

     2,800        2,418  

Kuala Lumpur Kepong Bhd

     400        1,884  

MISC Bhd

     2,800        4,582  

Petronas Chemicals Group Bhd

     3,000      4,807  

Petronas Gas Bhd

     1,400        5,229  

Public Bank Bhd

     5,300        4,804  

RHB Bank Bhd

     6,520        8,245  

Sime Darby Bhd

     7,700        3,752  

Sime Darby Plantation Bhd

     2,300        2,226  

Telekom Malaysia Bhd

     10,800        11,993  
     

 

 

 
Total Malaysia

 

     88,820  
Mexico – 5.0%

 

Alfa SAB de CV, Class A

     13,719        8,677  

America Movil SAB de CV, Series B

     17,250        18,085  

Arca Continental SAB de CV

     1,034        9,371  

Coca-Cola Femsa SAB de CV

     1,078        8,641  

Fomento Economico Mexicano SAB de CV(b)

     875        8,325  

Gruma SAB de CV, Class B

     455        6,699  

Grupo Bimbo SAB de CV, Series A

     1,438        7,222  

Grupo Financiero Inbursa SAB de CV, Class O*(b)

     6,584        14,130  

Orbia Advance Corp. SAB de CV

     4,083        8,860  

Promotora y Operadora de Infraestructura SAB de CV

     1,186        11,820  

Wal-Mart de Mexico SAB de CV

     1,600        6,383  
     

 

 

 
Total Mexico

 

     108,213  
Philippines – 1.6%

 

Bank of the Philippine Islands

     4,511        8,505  

International Container Terminal Services, Inc.

     1,870        7,340  

Jollibee Foods Corp.

     2,300        9,477  

Metropolitan Bank & Trust Co.

     7,910        8,512  
     

 

 

 
Total Philippines

 

     33,834  
Poland – 0.2%

 

PGE Polska Grupa Energetyczna SA*

     1,494        2,177  

Polski Koncern Naftowy Orlen SA

     145        1,960  
     

 

 

 
Total Poland

 

     4,137  
Russia – 0.0%

 

Lukoil PJSC*

     67        0  

Lukoil PJSC, ADR*

     46        0  

Magnit PJSC*

     32        0  

Magnit PJSC, GDR*(c)

     1        0  

MMC Norilsk Nickel PJSC*

     29        0  

MMC Norilsk Nickel PJSC, ADR*

     11        0  

Mobile TeleSystems PJSC, ADR*

     1,696        0  

Novolipetsk Steel PJSC*

     3,110        0  

PhosAgro PJSC*

     178        0  

PhosAgro PJSC, GDR*(c)

     4        0  

Polyus PJSC*

     59        0  

Rosneft Oil Co. PJSC*

     1,588        0  

Sberbank of Russia PJSC, ADR*

     639        0  

Severstal PAO, GDR*(c)

     475        0  

VTB Bank PJSC*

     16,536,000        0  

X5 Retail Group NV, GDR*(c)

     223        0  
     

 

 

 
Total Russia

 

     0  
South Africa – 6.1%

 

Bid Corp. Ltd.

     261        5,862  

 

See Notes to Financial Statements.

 

38   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Emerging Markets Multifactor Fund (EMMF)

March 31, 2023

 

 

 

Investments        
Shares
     Value  

Bidvest Group Ltd.

     265      $ 3,785  

Clicks Group Ltd.

     336        4,869  

FirstRand Ltd.(b)

     3,838        13,061  

Foschini Group Ltd.

     369        1,892  

Growthpoint Properties Ltd.

     5,409        3,981  

Mr. Price Group Ltd.

     806        6,551  

MTN Group Ltd.*

     572        4,109  

MultiChoice Group

     1,474        10,248  

Nedbank Group Ltd.

     1,135        13,872  

Old Mutual Ltd.

     21,238        14,125  

Pepkor Holdings Ltd.(a)

     6,144        5,970  

Remgro Ltd.

     1,744        13,214  

Sasol Ltd.

     144        1,948  

Shoprite Holdings Ltd.

     417        5,224  

Standard Bank Group Ltd.

     1,364        13,285  

Woolworths Holdings Ltd.

     2,365        8,522  
     

 

 

 
Total South Africa

 

     130,518  
South Korea – 8.6%

 

BGF Retail Co. Ltd.

     54        7,537  

Cheil Worldwide, Inc.

     661        9,454  

DB Insurance Co. Ltd.

     293        16,857  

Doosan Bobcat, Inc.

     466        15,643  

GS Holdings Corp.

     462        14,337  

Hyundai Glovis Co. Ltd.

     127        15,462  

Kia Corp.

     284        17,670  

KT&G Corp.

     119        7,669  

Kumho Petrochemical Co. Ltd.

     122        13,467  

LG Uplus Corp.

     2,124        17,669  

Meritz Financial Group, Inc.

     646        19,154  

Orion Corp.

     65        6,820  

Samsung Electronics Co. Ltd.

     464        22,811  
     

 

 

 
Total South Korea

 

     184,550  
Taiwan – 12.9%

 

ASE Technology Holding Co. Ltd.

     4,000        14,780  

Evergreen Marine Corp. Taiwan Ltd.

     1,400        7,288  

Far Eastern New Century Corp.

     11,000        11,308  

Far EasTone Telecommunications Co. Ltd.

     9,000        22,228  

Inventec Corp.

     20,000        20,987  

Lite-On Technology Corp.

     7,000        16,852  

Micro-Star International Co. Ltd.

     3,000        14,188  

Novatek Microelectronics Corp.

     1,000        14,172  

Pou Chen Corp.

     10,000        10,247  

President Chain Store Corp.

     1,000        8,851  

Taiwan Semiconductor Manufacturing Co. Ltd.

     4,500        78,775  

United Microelectronics Corp.*

     9,000        15,637  

Walsin Lihwa Corp.

     4,000        6,405  

Wiwynn Corp.

     500        18,474  

Yang Ming Marine Transport Corp.

     1,000        2,112  

Zhen Ding Technology Holding Ltd.

     4,000        14,977  
     

 

 

 
Total Taiwan

 

     277,281  
Thailand – 1.5%

 

Bangkok Dusit Medical Services PCL, NVDR

     7,700        6,643  

Bumrungrad Hospital PCL, NVDR

     900     5,948  

Indorama Ventures PCL, NVDR

     8,300       8,374  

Minor International PCL, NVDR*

     9,100       8,582  

PTT Exploration & Production PCL, NVDR

     800       3,521  
    

 

 

 
Total Thailand

 

    33,068  
Turkey – 2.7%

 

Akbank TAS

     11,953       10,549  

Ford Otomotiv Sanayi AS

     304       9,263  

Haci Omer Sabanci Holding AS

     3,249       6,696  

KOC Holding AS

     1,966       7,835  

Turk Hava Yollari AO*

     309       1,908  

Turkiye Is Bankasi AS, Class C

     19,802       13,380  

Turkiye Sise ve Cam Fabrikalari AS

     3,515       7,750  
    

 

 

 
Total Turkey

 

    57,381  
United Kingdom – 0.3%

 

Pepco Group NV*

     696       6,705  

TOTAL COMMON STOCKS

(Cost: $2,114,853)

 

 

    2,141,011  
      Principal
Amount
        
CORPORATE BONDS – 0.0%

 

India – 0.0%

 

Britannia Industries Ltd.
5.50%, 6/3/24, Series N3

    
(Cost: $124)      9,164  INR      109  
      Shares         
PREFERRED STOCKS – 0.7%

 

Brazil – 0.5%

 

Cia Energetica de Minas Gerais

     1,385       3,125  

Gerdau SA

     1,180       5,886  

Petroleo Brasileiro SA

     458       2,118  
    

 

 

 
Total Brazil

 

    11,129  
Chile – 0.2%

 

Sociedad Quimica y Minera de Chile SA, Class B

     52       4,196  
TOTAL PREFERRED STOCKS

 

(Cost: $16,320)              15,325  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 2.5%

 

United States – 2.5%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(d)

    
(Cost: $54,941)      54,941       54,941  

TOTAL INVESTMENTS IN SECURITIES – 102.6%

(Cost: $2,186,238)

 

 

    2,211,386  

Other Assets less Liabilities – (2.6)%

 

    (56,218
    

 

 

 
NET ASSETS – 100.0%

 

  $ 2,155,168  
* 

Non-income producing security.

 

 

This security is being fair valued using significant unobservable inputs (i.e., Level 3 on the fair value hierarchy) by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust. The aggregate value of Level 3 fair valued securities is $0, which represents 0.0% of net assets.

 

See Notes to Financial Statements.

 

WisdomTree Trust      39  


Schedule of Investments (concluded)

WisdomTree Emerging Markets Multifactor Fund (EMMF)

March 31, 2023

 

 

(a) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

(b) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $83,155 and the total market value of the collateral held by the Fund was $88,908. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $33,967.

(c) 

This security is exempt from registration under Regulation S of the Securities Act of 1933, which exempts from registration securities offered and sold outside the United States. This security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933.

(d) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
   

Amount and
Description of
Currency to be
Purchased

   

Amount and
Description of
Currency to
be Sold

    Unrealized
Appreciation
    Unrealized
Depreciation
 

Citibank NA

    4/5/2023       1,555,343,874       IDR       103,884       USD     $     $ (159

Citibank NA

    4/5/2023       101,128       USD       1,555,343,874       IDR             (2,597

Citibank NA

    4/10/2023       265,802       USD       8,103,247       TWD             (422

Goldman Sachs

    4/5/2023       614,039       BRL       120,933       USD       157        

Goldman Sachs

    4/5/2023       389,013       MYR       88,392       USD             (225

Goldman Sachs

    4/5/2023       116,615       USD       614,039       BRL             (4,474

HSBC Holdings PLC

    4/6/2023       4,271,786       CNY       623,300       USD             (1,557

HSBC Holdings PLC

    4/6/2023       620,719       USD       4,271,786       CNY             (1,024

HSBC Holdings PLC

    4/10/2023       8,103,247       TWD       266,309       USD             (84

Morgan Stanley & Co. International

    4/5/2023       86,989       USD       389,013       MYR             (1,179

UBS AG

    4/5/2023       1,197,672       TRY       62,454       USD             (182

UBS AG

    4/5/2023       62,454       USD       1,197,049       TRY       214        

UBS AG

    4/5/2023       126,795       USD       2,317,545       ZAR             (3,815

UBS AG

    4/5/2023       2,259,712       ZAR       126,795       USD       555        

UBS AG

    4/19/2023       60,215       USD       1,179,262       TRY             (82
                                            $ 926     $ (15,800

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

           

Investments in Securities

           

Common Stocks

           

Russia

   $      $      $ 0 *     $ 0  

Other

     2,141,011                      2,141,011  

Corporate Bonds

            109               109  

Preferred Stocks

     15,325                      15,325  

Investment of Cash Collateral for Securities Loaned

            54,941               54,941  

Total Investments in Securities

   $ 2,156,336      $ 55,050      $ 0      $ 2,211,386  

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ 926      $      $ 926  

Liabilities:

           

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ (15,800    $      $ (15,800

Total – Net

   $ 2,156,336      $ 40,176      $ 0      $ 2,196,512  

 

* 

Fair valuations using significant unobservable inputs were determined by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust.

 

1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

40   WisdomTree Trust


Schedule of Investments

WisdomTree Emerging Markets Quality Dividend Growth Fund (DGRE)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 98.7%

 

Brazil – 3.5%

 

Ambev SA

     98,486      $ 278,350  

Banco do Brasil SA

     23,067        177,930  

BB Seguridade Participacoes SA

     33,336        213,748  

Cosan SA

     57,421        170,896  

JBS SA

     39,412        138,751  

Localiza Rent a Car SA

     23,198        244,322  

Lojas Renner SA

     27,760        90,722  

Raia Drogasil SA

     38,246        184,432  

Suzano SA

     18,059        148,169  

TOTVS SA

     31,853        176,910  

Vale SA

     58,933        933,234  

WEG SA

     38,953        311,532  
     

 

 

 
Total Brazil

 

     3,068,996  
Chile – 0.9%

 

Banco de Chile

     1,812,457        176,980  

Banco Santander Chile

     3,828,686        170,705  

Cencosud SA

     128,184        249,036  

Empresas COPEC SA

     26,259        186,328  
     

 

 

 
Total Chile

 

     783,049  
China – 30.4%

 

A-Living Smart City Services Co. Ltd.(a)

     94,000        81,547  

ANTA Sports Products Ltd.

     67,600        981,713  

BOE Technology Group Co. Ltd., Class A

     222,500        143,856  

Bosideng International Holdings Ltd.

     752,000        419,590  

Canmax Technologies Co. Ltd., Class A

     12,900        96,159  

China Coal Energy Co. Ltd., Class H(b)

     238,000        180,396  

China Galaxy Securities Co. Ltd., Class H

     511,000        257,129  

China International Capital Corp. Ltd., Class H(a)

     109,200        218,958  

China Jushi Co. Ltd., Class A

     53,400        113,607  

China Medical System Holdings Ltd.

     378,000        597,099  

China Mengniu Dairy Co. Ltd.*

     160,000        656,310  

China Merchants Bank Co. Ltd., Class H

     74,500        380,569  

China Northern Rare Earth Group High-Tech Co. Ltd., Class A

     20,700        78,643  

China Petroleum & Chemical Corp., Class H

     550,000        325,098  

China Resources Beer Holdings Co. Ltd.

     76,000        609,940  

China Resources Gas Group Ltd.

     108,600        400,508  

China Shenhua Energy Co. Ltd., Class A

     34,800        142,751  

CITIC Securities Co. Ltd., Class H

     103,000        219,910  

Country Garden Services Holdings Co. Ltd.

     144,000        249,112  

CSPC Pharmaceutical Group Ltd.

     422,000        415,014  

Daan Gene Co. Ltd., Class A

     30,760        72,160  

Do-Fluoride New Materials Co. Ltd., Class A

     16,700        80,761  

Dongyue Group Ltd.

     188,000        193,988  

Ecovacs Robotics Co. Ltd., Class A

     11,400        137,119  

ENN Energy Holdings Ltd.

     58,200        797,753  

Ganfeng Lithium Group Co. Ltd., Class H(a)

     25,400        157,902  

GigaDevice Semiconductor, Inc., Class A

     6,900        122,581  

Guangzhou Kingmed Diagnostics Group Co. Ltd., Class A

     7,700        98,783  

Guangzhou Tinci Materials Technology Co. Ltd., Class A

     11,500        70,266  

Haitian International Holdings Ltd.

     80,000      206,880  

Henan Shenhuo Coal & Power Co. Ltd., Class A

     50,700        130,823  

Hoshine Silicon Industry Co. Ltd., Class A

     6,400        77,361  

Huafon Chemical Co. Ltd., Class A

     72,400        78,649  

Hubei Xingfa Chemicals Group Co. Ltd., Class A

     22,700        100,653  

Inner Mongolia ERDOS Resources Co. Ltd., Class A

     46,200        103,268  

Jafron Biomedical Co. Ltd., Class A

     11,400        50,382  

JCET Group Co. Ltd., Class A

     28,200        133,253  

JiuGui Liquor Co. Ltd., Class A

     3,700        69,681  

Jizhong Energy Resources Co. Ltd., Class A

     103,700        103,288  

Keda Industrial Group Co. Ltd.

     40,300        84,681  

Kingboard Holdings Ltd.

     82,000        251,747  

Lenovo Group Ltd.(b)

     672,000        727,648  

Li Ning Co. Ltd.

     70,500        555,921  

Longfor Group Holdings Ltd.(a)

     186,500        526,242  

Luxi Chemical Group Co. Ltd., Class A

     53,600        106,540  

Luzhou Laojiao Co. Ltd., Class A

     5,100        189,220  

Ming Yang Smart Energy Group Ltd., Class A

     27,400        89,813  

NetEase, Inc.

     30,300        532,666  

Ningbo Shanshan Co. Ltd., Class A

     34,800        87,313  

Nongfu Spring Co. Ltd., Class H(a)

     47,800        274,928  

PetroChina Co. Ltd., Class H

     760,000        450,194  

Satellite Chemical Co. Ltd., Class A

     53,700        125,115  

SG Micro Corp., Class A

     6,600        149,159  

Shaanxi Coal Industry Co. Ltd., Class A

     54,200        160,533  

Shan Xi Hua Yang Group New Energy Co. Ltd., Class A

     35,600        71,643  

Shandong Hualu Hengsheng Chemical Co. Ltd., Class A

     28,200        144,751  

Shandong Weigao Group Medical Polymer Co. Ltd., Class H

     197,200        315,020  

Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H(b)

     71,500        203,116  

Shanxi Coking Coal Energy Group Co. Ltd., Class A

     58,700        93,940  

Shanxi Lu’an Environmental Energy Development Co. Ltd., Class A

     45,700        146,005  

Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Class A

     5,500        218,164  

Shenghe Resources Holding Co. Ltd., Class A

     45,800        94,370  

Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A

     5,139        233,262  

Sichuan Road & Bridge Group Co. Ltd., Class A

     63,100        126,801  

Sichuan Yahua Industrial Group Co. Ltd., Class A

     26,500        81,692  

Silergy Corp.

     11,000        173,233  

Sino Biopharmaceutical Ltd.

     819,000        459,060  

Sinomine Resource Group Co. Ltd., Class A

     7,300        74,729  

TBEA Co. Ltd., Class A

     38,500        121,712  

TCL Zhonghuan Renewable Energy Technology Co. Ltd., Class A

     21,000        148,189  

Tencent Holdings Ltd.

     114,000        5,602,736  

Tongling Nonferrous Metals Group Co. Ltd., Class A

     258,700        121,301  

Tongwei Co. Ltd., Class A

     26,000        147,316  

Tsingtao Brewery Co. Ltd., Class H

     46,000        502,194  

 

See Notes to Financial Statements.

 

WisdomTree Trust      41  


Schedule of Investments (continued)

WisdomTree Emerging Markets Quality Dividend Growth Fund (DGRE)

March 31, 2023

 

 

 

Investments    Shares      Value  

Unigroup Guoxin Microelectronics Co. Ltd., Class A

     6,239      $ 100,963  

Want Want China Holdings Ltd.

     264,000        169,835  

Western Mining Co. Ltd., Class A

     65,800        121,399  

WuXi AppTec Co. Ltd., Class H(a)

     26,300        275,398  

Wuxi Shangji Automation Co. Ltd., Class A

     5,300        78,806  

Yadea Group Holdings Ltd.(a)

     278,000        717,138  

Yankuang Energy Group Co. Ltd., Class A

     19,300        99,967  

Yankuang Energy Group Co. Ltd., Class H(b)

     80,000        286,371  

Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Class A

     4,100        169,784  

Zhejiang Supor Co. Ltd., Class A

     14,300        112,758  

Zhongsheng Group Holdings Ltd.

     167,700        826,756  

Zhuzhou Kibing Group Co. Ltd., Class A

     66,800        101,455  

Zijin Mining Group Co. Ltd., Class A

     125,300        226,067  

Zijin Mining Group Co. Ltd., Class H

     378,000        631,770  
     

 

 

 
Total China

 

     26,662,881  
Czech Republic – 0.2%

 

Moneta Money Bank AS(a)

     45,788        184,348  
Hong Kong – 0.8%

 

Kingboard Laminates Holdings Ltd.(b)

     162,500        169,746  

Orient Overseas International Ltd.(b)

     16,500        315,709  

Vinda International Holdings Ltd.

     72,000        174,085  
     

 

 

 
Total Hong Kong

 

     659,540  
Hungary – 0.4%

 

MOL Hungarian Oil & Gas PLC

     23,772        174,104  

Richter Gedeon Nyrt

     9,356        195,760  
     

 

 

 
Total Hungary

 

     369,864  
India – 18.1%

 

ACC Ltd.

     6,255        126,892  

Adani Ports & Special Economic Zone Ltd.

     44,500        342,160  

Apollo Hospitals Enterprise Ltd.

     3,961        207,775  

Asian Paints Ltd.

     8,963        301,191  

Aurobindo Pharma Ltd.

     19,797        124,805  

Balkrishna Industries Ltd.

     6,321        150,094  

Berger Paints India Ltd.

     22,506        159,301  

Bharat Electronics Ltd.

     219,448        260,483  

Bharat Forge Ltd.

     16,873        158,182  

Cipla Ltd.

     49,947        547,285  

Coal India Ltd.

     68,235        177,391  

Container Corp. of India Ltd.

     17,174        121,257  

Dabur India Ltd.

     26,958        178,741  

Divi’s Laboratories Ltd.

     4,841        166,311  

Dr. Reddy’s Laboratories Ltd.

     3,333        187,481  

Eicher Motors Ltd.

     4,199        150,667  

GAIL India Ltd.

     256,997        328,820  

Grasim Industries Ltd.

     19,027        378,005  

Havells India Ltd.

     20,575        297,550  

HCL Technologies Ltd.

     23,056        304,463  

Hero MotoCorp Ltd.

     5,192        148,297  

Hindalco Industries Ltd.

     40,149        198,027  

Hindustan Unilever Ltd.

     16,976        528,878  

ICICI Bank Ltd.

     56,720        605,453  

ICICI Lombard General Insurance Co. Ltd.(a)

     9,977        129,838  

Indian Railway Catering & Tourism Corp. Ltd.

     15,344      106,945  

Indraprastha Gas Ltd.

     35,725        186,357  

Info Edge India Ltd.

     3,902        176,793  

Infosys Ltd.

     58,467        1,015,885  

ITC Ltd.

     103,894        484,815  

JSW Steel Ltd.

     90,193        755,171  

Jubilant Foodworks Ltd.

     34,362        184,014  

LTIMindtree Ltd.(a)

     2,658        153,940  

Mahindra & Mahindra Ltd.

     15,831        223,203  

Mphasis Ltd.

     6,080        132,853  

MRF Ltd.

     185        189,198  

Nestle India Ltd.

     1,903        456,273  

NTPC Ltd.

     131,361        279,881  

Oil & Natural Gas Corp. Ltd.

     103,052        189,408  

Page Industries Ltd.

     437        201,548  

Petronet LNG Ltd.

     105,523        293,845  

PI Industries Ltd.

     4,375        161,313  

Pidilite Industries Ltd.

     11,968        342,661  

Power Grid Corp. of India Ltd.

     153,092        420,441  

Shree Cement Ltd.

     1,017        324,061  

SRF Ltd.

     6,290        184,596  

Sun Pharmaceutical Industries Ltd.

     35,496        424,617  

Tata Consultancy Services Ltd.

     19,830        773,559  

Tata Consumer Products Ltd.

     21,082        181,839  

Tata Elxsi Ltd.

     1,970        142,846  

Tata Steel Ltd.

     188,197        239,304  

Titan Co. Ltd.

     7,658        234,346  

Torrent Pharmaceuticals Ltd.

     12,109        226,488  

Trent Ltd.

     8,987        150,356  

UltraTech Cement Ltd.

     3,861        358,095  

UPL Ltd.

     24,918        217,594  

Wipro Ltd.

     45,568        202,521  
     

 

 

 
Total India

 

     15,894,113  
Indonesia – 2.9%

 

Adaro Energy Indonesia Tbk PT

     886,000        171,356  

Aneka Tambang Tbk

     1,471,900        205,160  

Astra International Tbk PT

     470,900        188,429  

Bank Central Asia Tbk PT

     708,300        413,327  

Bank Mandiri Persero Tbk PT

     373,700        257,324  

Bank Negara Indonesia Persero Tbk PT

     254,900        158,946  

Bank Rakyat Indonesia Persero Tbk PT

     1,039,200        327,815  

Kalbe Farma Tbk PT

     2,742,931        384,151  

Sumber Alfaria Trijaya Tbk PT

     1,146,900        220,286  

United Tractors Tbk PT

     88,700        172,141  
     

 

 

 
Total Indonesia

 

     2,498,935  
Malaysia – 1.7%

 

IHH Healthcare Bhd

     112,000        145,949  

IOI Corp. Bhd

     189,400        163,539  

Kuala Lumpur Kepong Bhd

     34,100        160,589  

MR DIY Group M Bhd(a)

     298,000        104,680  

Petronas Chemicals Group Bhd

     104,500        167,437  

Press Metal Aluminium Holdings Bhd

     173,800        191,820  

RHB Bank Bhd

     118,200        149,474  

 

See Notes to Financial Statements.

 

42   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Emerging Markets Quality Dividend Growth Fund (DGRE)

March 31, 2023

 

 

 

Investments    Shares      Value  

Sime Darby Plantation Bhd

     211,200      $ 204,379  

Telekom Malaysia Bhd

     160,800        178,565  
     

 

 

 
Total Malaysia

 

     1,466,432  
Mexico – 2.6%

 

Alfa SAB de CV, Class A

     229,915        145,416  

Arca Continental SAB de CV

     37,376        338,735  

Grupo Bimbo SAB de CV, Series A

     173,683        872,263  

Grupo Financiero Banorte SAB de CV, Class O

     38,405        323,090  

Grupo Mexico SAB de CV, Series B

     82,863        391,598  

Orbia Advance Corp. SAB de CV

     78,590        170,534  
     

 

 

 
Total Mexico

 

     2,241,636  
Philippines – 1.0%

 

International Container Terminal Services, Inc.

     144,480        567,130  

Jollibee Foods Corp.

     31,790        130,985  

Metropolitan Bank & Trust Co.

     156,800        168,726  
     

 

 

 
Total Philippines

 

     866,841  
Poland – 0.6%

 

Cyfrowy Polsat SA

     22,064        85,735  

LPP SA

     88        195,690  

Polski Koncern Naftowy Orlen SA

     16,819        227,374  
     

 

 

 
Total Poland

 

     508,799  
Russia – 0.0%

 

MMC Norilsk Nickel PJSC*

     993        0  

MMC Norilsk Nickel PJSC, ADR*

     3        0  

Mobile TeleSystems PJSC, ADR*

     24,869        0  

Novolipetsk Steel PJSC*

     71,650        0  

PhosAgro PJSC*

     2,975        0  

PhosAgro PJSC, GDR*(c)

     60        0  

Polyus PJSC, GDR*

     1,334        0  

Severstal PAO, GDR*(c)

     8,497        0  

Surgutneftegas PJSC*

     341,560        0  

Surgutneftegas PJSC, ADR*

     749        0  

TCS Group Holding PLC, GDR*(c)

     2,248        0  
     

 

 

 
Total Russia

 

     0  
Saudi Arabia – 1.7%

 

Alinma Bank

     19,703        154,582  

Bank Al-Jazira

     20,346        98,540  

Bupa Arabia for Cooperative Insurance Co.

     3,797        175,805  

Mouwasat Medical Services Co.

     2,471        154,696  

SABIC Agri-Nutrients Co.

     6,070        206,015  

Sahara International Petrochemical Co.

     18,694        188,499  

Saudi Arabian Oil Co.(a)

     30,960        266,406  

Saudi Basic Industries Corp.

     11,686        281,121  
     

 

 

 
Total Saudi Arabia

 

     1,525,664  
South Africa – 3.5%

 

African Rainbow Minerals Ltd.(b)

     16,912        219,863  

Anglo American Platinum Ltd.(b)

     3,200        172,062  

AngloGold Ashanti Ltd.

     15,696        381,640  

Bidvest Group Ltd.(b)

     14,512        207,278  

Capitec Bank Holdings Ltd.

     2,104        200,135  

Clicks Group Ltd.

     12,075        174,995  

Exxaro Resources Ltd.

     31,466        330,843  

FirstRand Ltd.(b)

     77,191      262,691  

Gold Fields Ltd.

     22,775        304,223  

Impala Platinum Holdings Ltd.(b)

     18,612        171,859  

Mr. Price Group Ltd.

     13,278        107,915  

Remgro Ltd.

     20,810        157,672  

Shoprite Holdings Ltd.

     16,116        201,885  

Vodacom Group Ltd.

     25,220        173,473  
     

 

 

 
Total South Africa

 

     3,066,534  
South Korea – 8.5%

 

BGF Retail Co. Ltd.

     1,391        194,143  

Cheil Worldwide, Inc.

     13,678        195,633  

CJ CheilJedang Corp.

     491        122,953  

DB Insurance Co. Ltd.

     4,068        234,046  

Green Cross Corp.

     788        73,906  

Hyundai Steel Co.

     7,117        189,699  

Industrial Bank of Korea

     20,194        156,669  

Kakao Corp.

     6,731        315,907  

Kia Corp.

     5,858        364,480  

Korea Zinc Co. Ltd.

     428        181,806  

Kumho Petrochemical Co. Ltd.

     3,655        403,444  

LG Innotek Co. Ltd.

     1,354        281,336  

LG Uplus Corp.

     13,852        115,234  

Pan Ocean Co. Ltd.

     40,472        180,622  

POSCO Holdings, Inc.

     1,140        322,249  

S-Oil Corp.

     1,945        119,671  

Samsung Electro-Mechanics Co. Ltd.

     1,894        222,156  

Samsung Electronics Co. Ltd.

     61,863        3,041,235  

SK Chemicals Co. Ltd.

     2,706        154,854  

SK Hynix, Inc.

     6,380        434,204  

Woori Financial Group, Inc.

     19,359        169,671  
     

 

 

 
Total South Korea

 

     7,473,918  
Taiwan – 18.1%

 

Accton Technology Corp.

     32,000        335,266  

Acer, Inc.

     260,000        240,381  

Advantech Co. Ltd.

     30,895        376,453  

ASE Technology Holding Co. Ltd.

     94,000        347,319  

Asustek Computer, Inc.

     25,000        223,746  

Cathay Financial Holding Co. Ltd.

     179,406        246,298  

China Airlines Ltd.(b)

     223,000        142,820  

China Development Financial Holding Corp.

     481,000        198,261  

China Steel Corp.

     275,000        279,087  

E Ink Holdings, Inc.(b)

     30,000        181,788  

Eclat Textile Co. Ltd.

     14,000        227,605  

eMemory Technology, Inc.

     5,000        305,444  

Eva Airways Corp.(b)

     206,000        181,660  

Formosa Plastics Corp.

     87,000        262,307  

Fubon Financial Holding Co. Ltd.

     140,800        261,276  

Giant Manufacturing Co. Ltd.

     23,652        136,719  

Hua Nan Financial Holdings Co. Ltd.

     255,000        187,183  

Innolux Corp.

     396,615        188,880  

MediaTek, Inc.

     23,000        594,499  

Micro-Star International Co. Ltd.

     79,000        373,627  

momo.com, Inc.

     3,800        112,699  

Nan Ya Plastics Corp.

     108,000        274,899  

 

See Notes to Financial Statements.

 

WisdomTree Trust      43  


Schedule of Investments (continued)

WisdomTree Emerging Markets Quality Dividend Growth Fund (DGRE)

March 31, 2023

 

 

 

Investments    Shares     Value  

Nan Ya Printed Circuit Board Corp.

     23,000     $ 213,778  

Nanya Technology Corp.

     90,000       196,568  

Nien Made Enterprise Co. Ltd.

     32,000       343,673  

Novatek Microelectronics Corp.

     45,000       637,737  

Pou Chen Corp.

     147,000       150,633  

Powerchip Semiconductor Manufacturing Corp.

     181,000       196,768  

Quanta Computer, Inc.

     88,000       257,519  

Realtek Semiconductor Corp.

     41,000       521,800  

Ruentex Development Co. Ltd.

     185,500       215,368  

Synnex Technology International Corp.

     224,000       450,979  

Taiwan Semiconductor Manufacturing Co. Ltd.

     314,291       5,501,834  

Unimicron Technology Corp.

     50,000       242,220  

United Microelectronics Corp.*

     266,000       462,153  

Vanguard International Semiconductor Corp.

     41,000       130,484  

Walsin Lihwa Corp.

     125,000       200,140  

Winbond Electronics Corp.

     255,000       221,939  

Yuanta Financial Holding Co. Ltd.

     365,480       268,281  
    

 

 

 
Total Taiwan

 

    15,890,091  
Thailand – 0.9%

 

Indorama Ventures PCL, NVDR

     133,400       134,590  

PTT Exploration & Production PCL, NVDR

     39,500       173,848  

PTT Global Chemical PCL, NVDR

     123,000       164,564  

PTT PCL, NVDR

     202,100       186,172  

Thai Oil PCL, NVDR

     105,600       162,129  
    

 

 

 
Total Thailand

 

    821,303  
Turkey – 2.6%

 

Aselsan Elektronik Sanayi ve Ticaret AS

     137,491       372,110  

BIM Birlesik Magazalar AS

     34,409       266,560  

Ford Otomotiv Sanayi AS(b)

     21,587       657,788  

Haci Omer Sabanci Holding AS

     114,376       235,724  

KOC Holding AS

     68,519       273,076  

Turkiye Sise ve Cam Fabrikalari AS

     209,474       461,836  
    

 

 

 
Total Turkey

 

    2,267,094  
United States – 0.3%

 

Parade Technologies Ltd.

     8,000       275,885  

TOTAL COMMON STOCKS

(Cost: $78,641,850)

 

 

    86,525,923  
      Principal
Amount
        
CORPORATE BONDS – 0.0%

 

India – 0.0%

 

Britannia Industries Ltd.
5.50%, 6/3/24, Series N3

    
(Cost: $2,260)      164,430  INR      1,951  
      Shares         
PREFERRED STOCKS – 1.2%

 

Brazil – 0.9%

 

Cia Energetica de Minas Gerais

     108,923       245,763  

Gerdau SA

     56,711       282,870  

Itausa SA

     175,008       283,727  
    

 

 

 
Total Brazil

 

    812,360  
Chile – 0.3%

 

Sociedad Quimica y Minera de Chile SA, Class B

     3,213      259,280  

TOTAL PREFERRED STOCKS

(Cost: $1,124,864)

 

 

     1,071,640  
RIGHTS – 0.0%

 

Brazil – 0.0%

 

Localiza Rent a Car SA, expiring 5/11/23*

 

(Cost: $0)      103        267  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 2.3%

 

United States – 2.3%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(d)

     
(Cost: $1,969,247)      1,969,247        1,969,247  

TOTAL INVESTMENTS IN SECURITIES – 102.2%

(Cost: $81,738,221)

 

 

     89,569,028  

Other Assets less Liabilities – (2.2)%

 

     (1,888,221
     

 

 

 
NET ASSETS – 100.0%

 

   $ 87,680,807  
* 

Non-income producing security.

 

 

This security is being fair valued using significant unobservable inputs (i.e., Level 3 on the fair value hierarchy) by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust. The aggregate value of Level 3 fair valued securities is $0, which represents 0.0% of net assets.

 

(a) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(b) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $2,839,145 and the total market value of the collateral held by the Fund was $3,005,585. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $1,036,338.

 

(c) 

This security is exempt from registration under Regulation S of the Securities Act of 1933, which exempts from registration securities offered and sold outside the United States. This security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933.

 

(d) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

See Notes to Financial Statements.

 

44   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree Emerging Markets Quality Dividend Growth Fund (DGRE)

March 31, 2023

 

 

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
   

Amount and
Description of
Currency to be
Purchased

   

Amount and
Description of
Currency to
be Sold

    Unrealized
Appreciation
    Unrealized
Depreciation
 

Bank of America NA

    4/3/2023       5,930       USD       114,000       TRY     $     $ (9

Barclays Bank PLC

    4/3/2023       28,038       USD       500,000       ZAR             (143
                                            $     $ (152

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

     

Quoted

Prices in

Active

Markets
(Level 1)

    

Other

Significant
Observable
Inputs
(Level 2)

     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

           

Investments in Securities

           

Common Stocks

           

Russia

   $      $      $ 0 *     $ 0  

Other

     86,525,923                      86,525,923  

Corporate Bonds

            1,951               1,951  

Preferred Stocks

     1,071,640                      1,071,640  

Rights

     267                      267  

Investment of Cash Collateral for Securities Loaned

            1,969,247               1,969,247  

Total Investments in Securities

   $ 87,597,830      $ 1,971,198      $ 0      $ 89,569,028  

Liabilities:

           

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ (152    $      $ (152

Total – Net

   $ 87,597,830      $ 1,971,046      $ 0      $ 89,568,876  
* 

Fair valuations using significant unobservable inputs were determined by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust.

 

1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

WisdomTree Trust      45  


Schedule of Investments

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2023

 

 

 

Investments    Shares      Value  

COMMON STOCKS – 99.2%

 

Brazil – 5.4%

 

AES Brasil Energia SA

     161,807      $ 317,215  

Aliansce Sonae Shopping Centers SA

     148,730        516,276  

Alupar Investimento SA

     876,701        4,647,842  

Arezzo Industria e Comercio SA

     111,708        1,399,255  

Armac Locacao Logistica E Servicos SA

     161,869        367,460  

Blau Farmaceutica SA

     91,167        433,337  

Boa Vista Servicos SA

     165,674        246,702  

BrasilAgro – Co. Brasileira de Propriedades Agricolas

     584,724        2,779,320  

Camil Alimentos SA

     8,192        10,987  

Cia Brasileira de Aluminio

     736,118        1,100,493  

Cia Brasileira de Distribuicao

     12,207        35,464  

Cia de Saneamento de Minas Gerais Copasa MG

     10,662        33,078  

Cia de Saneamento do Parana

     1,929,929        6,893,351  

Cia Energetica de Minas Gerais

     1,416,719        4,783,636  

Cia Paranaense de Energia, UNIT

     1,303,336        8,768,165  

Cielo SA

     3,253,381        3,112,055  

CM Hospitalar SA

     285,156        879,047  

Cruzeiro do Sul Educacional SA

     281,372        116,539  

Cyrela Brazil Realty SA Empreendimentos e Participacoes

     33,145        92,043  

Dexco SA

     3,364,768        3,902,142  

EDP – Energias do Brasil SA

     2,992,341        13,184,537  

Energisa SA

     1,683,276        13,339,387  

Even Construtora e Incorporadora SA

     468,855        407,800  

Ez Tec Empreendimentos e Participacoes SA

     323,896        778,079  

Fleury SA

     524,484        1,501,998  

GPS Participacoes e Empreendimentos SA*(a)

     558,616        1,333,120  

Grendene SA

     18,867        26,755  

Grupo De Moda Soma SA

     324,024        518,285  

Grupo SBF SA

     159,960        261,855  

Guararapes Confeccoes SA

     428,938        363,776  

Iguatemi SA

     286,283        1,089,177  

Instituto Hermes Pardini SA

     69,224        270,192  

Intelbras SA Industria de Telecomunicacao Eletronica Brasileira

     84,656        381,685  

Iochpe Maxion SA

     291,894        690,839  

Irani Papel e Embalagem SA

     5,091        8,655  

Jalles Machado SA

     496,410        661,847  

JHSF Participacoes SA

     15,086        11,009  

Kepler Weber SA

     653,767        2,286,138  

LOG Commercial Properties e Participacoes SA

     209,740        654,009  

M. Dias Branco SA

     487,115        2,422,965  

Mahle Metal Leve SA

     432,661        2,604,371  

Minerva SA

     1,475,918        3,068,128  

Movida Participacoes SA

     800,742        1,277,650  

MRV Engenharia e Participacoes SA

     1,315,377        1,655,166  

Multilaser Industrial SA

     715,206        193,251  

Multiplan Empreendimentos Imobiliarios SA

     644,382        3,131,517  

Odontoprev SA

     404,267        877,065  

Petroreconcavo SA

     120,526        483,269  

Porto Seguro SA

     1,007,406        4,673,180  

Portobello SA

     4,941      5,867  

Positivo Tecnologia SA

     2,927        4,382  

Qualicorp Consultoria e Corretora de Seguros SA

     157,599        114,386  

Romi SA

     186,196        670,934  

Santos Brasil Participacoes SA

     4,396,860        7,041,567  

Sao Martinho SA

     952,773        5,077,447  

SIMPAR SA

     1,271,584        1,875,933  

SLC Agricola SA

     448,764        4,035,136  

Transmissora Alianca de Energia Eletrica SA

     3,146,260        21,613,182  

Ultrapar Participacoes SA

     1,350,677        3,718,840  

Vamos Locacao de Caminhoes Maquinas e Equipamentos SA

     357,018        940,031  

Vivara Participacoes SA

     224,660        979,239  

Wilson Sons Holdings Brasil SA

     721,162        1,368,291  

YDUQS Participacoes SA

     4,367        6,072  
     

 

 

 
Total Brazil

 

     146,041,419  

Chile – 0.7%

 

Aguas Andinas SA, Class A

     15,895,691        4,529,792  

Cencosud Shopping SA

     1,317,494        2,133,027  

Empresa Nacional de Telecomunicaciones SA

     1,366,520        5,418,652  

Itau CorpBanca Chile SA*

     1,034,243,571        2,562,684  

Parque Arauco SA

     1,586,958        2,268,201  

Ripley Corp. SA

     10,659,796        2,282,942  

Vina Concha y Toro SA

     19,982        25,701  
     

 

 

 
Total Chile

 

     19,220,999  

China – 19.1%

 

3SBio, Inc.(a)

     1,902,000        1,894,743  

A-Living Smart City Services Co. Ltd.(a)(b)

     4,137,500        3,589,370  

Aluminum Corp. of China Ltd., Class H

     4,442,000        2,252,137  

Anhui Expressway Co. Ltd., Class H

     5,490,000        5,531,997  

Anhui Guangxin Agrochemical Co. Ltd., Class A

     1,082,771        5,199,975  

Anhui Zhongding Sealing Parts Co. Ltd., Class A

     146,600        271,327  

Aoyuan Healthy Life Group Co. Ltd.*(b)

     2,448,000        292,964  

Asiainfo Technologies Ltd.(a)(b)

     1,842,000        3,402,442  

BAIC Motor Corp. Ltd., Class H(a)

     17,199,500        4,776,452  

Bank of Guiyang Co. Ltd., Class A

     17,687,988        14,192,013  

Beijing Capital Eco-Environment Protection Group Co. Ltd., Class A

     1,110,200        480,144  

Beijing GeoEnviron Engineering & Technology, Inc., Class A

     126,600        187,855  

Beijing Jingneng Clean Energy Co. Ltd., Class H

     9,922,000        2,363,600  

Beijing Jingyuntong Technology Co. Ltd., Class A

     126,200        120,920  

Beijing Originwater Technology Co. Ltd., Class A

     945,078        694,981  

Beijing Zhong Ke San Huan High-Tech Co. Ltd., Class A

     82,000        156,422  

Binjiang Service Group Co. Ltd.

     4,500        15,220  

CanSino Biologics, Inc., Class H(a)(b)

     144,800        774,731  

 

See Notes to Financial Statements.

 

46   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Chengdu XGimi Technology Co. Ltd., Class A

     3,482      $ 97,757  

Chengtun Mining Group Co. Ltd., Class A

     59,300        49,393  

China Automotive Engineering Research Institute Co. Ltd., Class A

     811,823        2,901,014  

China Cinda Asset Management Co. Ltd., Class H

     91,137,000        11,493,784  

China Communications Services Corp. Ltd., Class H

     16,094,000        7,913,788  

China Datang Corp. Renewable Power Co. Ltd., Class H

     24,000        8,591  

China East Education Holdings Ltd.(a)(b)

     4,187,500        2,475,175  

China Galaxy Securities Co. Ltd., Class H

     45,050,000        22,668,616  

China International Capital Corp. Ltd., Class H(a)(b)

     3,730,800        7,480,658  

China International Marine Containers Group Co. Ltd., Class A

     12,986,253        14,390,719  

China International Marine Containers Group Co. Ltd., Class H

     3,561,100        2,449,690  

China Kepei Education Group Ltd.(b)

     3,678,000        1,232,255  

China Kings Resources Group Co. Ltd., Class A

     23,000        131,423  

China Meheco Co. Ltd., Class A

     115,200        230,155  

China Merchants Securities Co. Ltd., Class H(a)

     3,911,000        3,746,612  

China Minsheng Banking Corp. Ltd., Class H(b)

     53,694,500        18,399,889  

China National Gold Group Gold Jewellery Co. Ltd., Class A

     263,000        470,293  

China New Higher Education Group Ltd.(a)

     8,404,000        2,719,273  

China Nonferrous Mining Corp. Ltd.

     9,753,000        4,609,409  

China Oilfield Services Ltd., Class H

     814,000        834,744  

China Railway Group Ltd., Class H

     19,860,000        12,118,472  

China Railway Signal & Communication Corp. Ltd., Class H(a)

     10,303,000        3,793,103  

China Reinsurance Group Corp., Class H

     433,000        30,338  

China Resources Boya Bio-Pharmaceutical Group Co. Ltd., Class A

     24,100        122,583  

China Resources Double Crane Pharmaceutical Co. Ltd., Class A

     212,200        532,717  

China Resources Medical Holdings Co. Ltd.(b)

     2,254,500        1,952,955  

China Risun Group Ltd.(b)

     9,013,000        4,110,413  

China South Publishing & Media Group Co. Ltd., Class A

     4,993,900        8,464,607  

China Suntien Green Energy Corp. Ltd., Class H(b)

     9,198,000        4,019,024  

China XLX Fertiliser Ltd.

     3,048,000        1,611,373  

China Yongda Automobiles Services Holdings Ltd.

     12,646,000        8,989,188  

Chongqing Rural Commercial Bank Co. Ltd., Class H

     18,514,000        6,745,271  

CIFI Ever Sunshine Services Group Ltd.(b)

     3,634,000        1,411,945  

CIMC Enric Holdings Ltd.(b)

     12,000        11,618  

CMOC Group Ltd., Class H

     8,292,000        5,017,484  

CSC Financial Co. Ltd., Class H(a)(b)

     5,845,500        5,696,606  

Dexin China Holdings Co. Ltd.

     45,000        3,382  

DHC Software Co. Ltd., Class A

     132,700        160,385  

Dian Diagnostics Group Co. Ltd., Class A

     21,800        90,948  

Dongyue Group Ltd.

     5,128,000        5,291,346  

East Group Co. Ltd., Class A

     97,600        110,572  

EEKA Fashion Holdings Ltd.(b)

     2,078,500        2,806,655  

Electric Connector Technology Co. Ltd., Class A

     48,000      241,632  

Estun Automation Co. Ltd., Class A

     34,100        139,383  

Everbright Securities Co. Ltd., Class H(a)(b)

     1,938,600        1,316,281  

Excellence Commercial Property & Facilities Management Group Ltd.

     27,000        10,181  

Fire Rock Holdings Ltd.*(b)

     1,664,000        66,677  

Fu Shou Yuan International Group Ltd.

     1,496,000        1,212,054  

Fufeng Group Ltd.(b)

     13,747,000        7,933,033  

Fuyao Glass Industry Group Co. Ltd., Class H(a)

     1,890,400        8,235,935  

G-bits Network Technology Xiamen Co. Ltd., Class A

     274,678        19,069,428  

Ganfeng Lithium Group Co. Ltd., Class H(a)

     178,200        1,107,798  

GF Securities Co. Ltd., Class H

     6,071,400        8,600,560  

Giant Network Group Co. Ltd., Class A

     227,800        437,203  

Grandblue Environment Co. Ltd., Class A

     60,227        156,547  

Greentown Management Holdings Co. Ltd.(a)

     30,000        28,128  

Guangzhou Automobile Group Co. Ltd., Class H

     11,324,000        7,140,657  

Guangzhou Haige Communications Group, Inc. Co., Class A

     415,800        635,752  

Guangzhou Zhujiang Brewery Co. Ltd., Class A

     111,400        153,621  

Guizhou Panjiang Refined Coal Co. Ltd., Class A

     2,146,300        2,259,658  

Haitong Securities Co. Ltd., Class H

     19,245,600        12,013,254  

Henan Mingtai Al Industrial Co. Ltd., Class A

     74,100        171,349  

Hisense Home Appliances Group Co. Ltd., Class H

     15,000        25,949  

Huagong Tech Co. Ltd., Class A

     62,300        230,519  

Huatai Securities Co. Ltd., Class H(a)

     7,398,400        8,454,022  

Huaxi Securities Co. Ltd., Class A

     241,200        289,062  

IKD Co. Ltd., Class A

     99,900        351,751  

Jiangsu Azure Corp., Class A

     59,000        123,201  

Jiangsu Expressway Co. Ltd., Class H

     8,470,000        7,898,190  

Jiangsu Nhwa Pharmaceutical Co. Ltd., Class A

     535,100        2,053,192  

Jiangsu Provincial Agricultural Reclamation & Development Corp.

     729,780        1,255,035  

Jiangsu Shuangxing Color Plastic New Materials Co. Ltd., Class A

     167,900        310,260  

Jiangxi Jovo Energy Co. Ltd., Class A

     44,800        145,674  

Jingjin Equipment, Inc., Class A

     496,734        2,025,330  

Jingrui Holdings Ltd.*

     9,514,000        232,701  

Jiumaojiu International Holdings Ltd.(a)(b)

     364,000        866,186  

Joincare Pharmaceutical Group Industry Co. Ltd., Class A

     266,600        511,281  

Kangji Medical Holdings Ltd.(b)

     1,461,000        1,784,851  

KingClean Electric Co. Ltd., Class A

     2,482        10,575  

KWG Living Group Holdings Ltd.(b)

     10,190,000        1,596,660  

Laobaixing Pharmacy Chain JSC, Class A

     54,500        297,051  

Legend Holdings Corp., Class H(a)

     3,577,800        3,814,825  

Lianhe Chemical Technology Co. Ltd., Class A

     187,300        384,293  

Livzon Pharmaceutical Group, Inc., Class A

     1,417,566        7,716,077  

Livzon Pharmaceutical Group, Inc., Class H

     1,035,800        3,655,012  

Luenmei Quantum Co. Ltd., Class A

     892,571        807,139  

Metallurgical Corp. of China Ltd., Class H

     15,052,000        3,892,453  

Minth Group Ltd.

     1,634,000        4,933,254  

Nanjing Iron & Steel Co. Ltd., Class A

     8,170,400        4,628,144  

NetDragon Websoft Holdings Ltd.

     2,448,500        4,298,159  

 

See Notes to Financial Statements.

 

WisdomTree Trust      47  


Schedule of Investments (continued)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Ningbo Sanxing Medical Electric Co. Ltd., Class A

     260,800      $ 483,448  

Northeast Securities Co. Ltd., Class A

     232,500        229,544  

Offshore Oil Engineering Co. Ltd., Class A

     538,000        480,238  

Pharmaron Beijing Co. Ltd., Class H(a)

     176,600        741,275  

Poly Property Services Co. Ltd., Class H

     1,200        7,353  

Pop Mart International Group Ltd.(a)(b)

     785,800        2,142,195  

Qingdao Haier Biomedical Co. Ltd., Class A

     3,609        34,948  

Qingdao Rural Commercial Bank Corp., Class A

     192,500        79,329  

Qingdao Sentury Tire Co. Ltd., Class A

     46,900        216,426  

Radiance Holdings Group Co. Ltd.(b)

     42,000        23,809  

S-Enjoy Service Group Co. Ltd.*(b)

     1,151,000        904,677  

SCE Intelligent Commercial Management Holdings Ltd.

     1,394,000        308,991  

Sealand Securities Co. Ltd., Class A

     473,300        234,331  

Shandong Buchang Pharmaceuticals Co. Ltd., Class A

     153,333        442,987  

Shandong Dongyue Organosilicon Material Co. Ltd., Class A

     183,035        320,904  

Shandong Gold Mining Co. Ltd., Class H(a)(b)

     727,000        1,476,236  

Shandong Himile Mechanical Science & Technology Co. Ltd., Class A

     177,500        809,015  

Shandong Pharmaceutical Glass Co. Ltd., Class A

     50,800        194,181  

Shanghai Fosun Pharmaceutical Group Co. Ltd., Class H(b)

     1,376,000        3,908,917  

Shanghai Huace Navigation Technology Ltd., Class A

     363,500        1,532,382  

Shanghai Huafon Aluminium Corp., Class A

     57,100        106,678  

Shanghai Pharmaceuticals Holding Co. Ltd., Class H

     2,831,100        5,279,945  

Shanghai Tunnel Engineering Co. Ltd., Class A

     750,900        623,262  

Shanxi Coking Co. Ltd., Class A

     504,700        407,152  

Shanxi Securities Co. Ltd., Class A

     526,800        445,693  

Shenwan Hongyuan Group Co. Ltd., Class H(a)(b)

     13,248,800        2,514,756  

Shenzhen Expressway Corp. Ltd., Class H

     5,990,000        5,326,174  

Shenzhen Hepalink Pharmaceutical Group Co. Ltd., Class A

     54,400        109,160  

Shenzhen Kinwong Electronic Co. Ltd., Class A

     96,900        361,225  

Shenzhen Sunlord Electronics Co. Ltd., Class A

     101,800        387,348  

Shenzhen Yinghe Technology Co. Ltd., Class A

     131,200        363,760  

Shenzhen Zhongjin Lingnan Nonfemet Co. Ltd., Class A

     396,200        283,853  

Shui On Land Ltd.

     45,601,000        5,518,628  

Sichuan Hexie Shuangma Co. Ltd., Class A

     256,200        800,986  

Simcere Pharmaceutical Group Ltd.(a)

     12,000        12,612  

Sinocare, Inc., Class A

     186,700        874,872  

Sinoma International Engineering Co., Class A

     579,500        943,429  

Sinopec Engineering Group Co. Ltd., Class H

     16,122,500        8,009,956  

Sinopharm Group Co. Ltd., Class H

     6,024,800        18,228,014  

Sinotrans Ltd., Class A

     4,335,500        2,626,313  

Sinotrans Ltd., Class H

     23,400,000        7,243,613  

Skyworth Digital Co. Ltd., Class A

     162,600        448,924  

Sonoscape Medical Corp., Class A

     9,700        78,196  

Sun Art Retail Group Ltd.(b)

     4,378,000        1,756,788  

Suofeiya Home Collection Co. Ltd., Class A

     1,649,200        4,682,976  

SY Holdings Group Ltd.(b)

     1,597,500      1,176,256  

TangShan Port Group Co. Ltd., Class A

     36,093,410        16,293,095  

Tian Di Science & Technology Co. Ltd., Class A

     1,435,594        1,061,963  

Tian Lun Gas Holdings Ltd.(b)

     27,000        15,822  

Tiangong International Co. Ltd.(b)

     3,950,000        1,273,065  

Tofflon Science & Technology Group Co. Ltd., Class A

     54,800        215,137  

Toly Bread Co. Ltd., Class A

     225,319        510,858  

Tong Ren Tang Technologies Co. Ltd., Class H

     15,888        13,965  

TravelSky Technology Ltd., Class H

     583,000        1,088,769  

Wanxiang Qianchao Co. Ltd., Class A

     667,354        510,187  

West China Cement Ltd.(b)

     20,216,000        2,472,291  

Wolong Electric Group Co. Ltd., Class A

     166,200        305,667  

WUS Printed Circuit Kunshan Co. Ltd., Class A

     1,556,371        4,870,388  

Wuxi NCE Power Co. Ltd., Class A

     8,500        102,721  

Xi’an Triangle Defense Co. Ltd., Class A

     23,900        119,373  

Xiamen Xiangyu Co. Ltd., Class A

     4,703,840        7,363,342  

Xiangcai Co. Ltd., Class A

     249,100        345,685  

Xianhe Co. Ltd., Class A

     49,300        181,915  

Xinjiang Goldwind Science & Technology Co. Ltd., Class H

     2,179,200        1,862,742  

Xinjiang Zhongtai Chemical Co. Ltd., Class A

     223,100        235,533  

Xinte Energy Co. Ltd., Class H(b)

     2,524,800        6,496,979  

Xinxiang Richful Lube Additive Co. Ltd., Class A

     10,400        168,192  

Xinyangfeng Agricultural Technology Co. Ltd., Class A

     161,900        253,201  

Xinyi Energy Holdings Ltd.(b)

     12,530,000        3,767,005  

Xuji Electric Co. Ltd., Class A

     58,300        198,655  

Yangtze Optical Fibre & Cable Joint Stock Ltd. Co., Class A

     157,000        946,486  

Yangtze Optical Fibre & Cable Joint Stock Ltd. Co., Class H(a)

     3,000        6,176  

Yihai International Holding Ltd.*(b)

     596,000        1,750,049  

Yunnan Copper Co. Ltd., Class A

     1,499,300        2,814,203  

Zhejiang Crystal-Optech Co. Ltd., Class A

     260,800        528,641  

Zhejiang Dingli Machinery Co. Ltd., Class A

     157,600        1,257,394  

Zhejiang Expressway Co. Ltd., Class H

     10,486,000        8,335,421  

Zhejiang JIULI Hi-tech Metals Co. Ltd., Class A

     1,226,590        2,747,070  

Zhejiang Xinan Chemical Industrial Group Co. Ltd., Class A

     333,582        737,375  

Zhengzhou Coal Mining Machinery Group Co. Ltd., Class H(b)

     1,739,200        1,752,504  

Zhou Hei Ya International Holdings Co. Ltd.*(a)(b)

     2,890,000        1,365,856  

Zhuzhou Hongda Electronics Corp. Ltd., Class A

     36,000        239,046  
     

 

 

 
Total China               512,500,019  
Czech Republic – 0.3%

 

Moneta Money Bank AS(a)      1,646,311        6,628,244  
India – 4.7%

 

360 ONE WAM Ltd.

     150,269        787,526  

Alkyl Amines Chemicals

     14,488        379,977  

Allcargo Logistics Ltd.

     99,291        429,688  

Angel One Ltd.

     72,235        1,022,097  

Apollo Tyres Ltd.

     691,161        2,690,383  

Asahi India Glass Ltd.

     109,559        602,769  

 

See Notes to Financial Statements.

 

48   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2023

 

 

 

Investments    Shares      Value  

BEML Ltd.

     24,430      $ 373,781  

Bharat Heavy Electricals Ltd.

     1,111,655        947,543  

Birla Corp. Ltd.

     33,540        363,305  

Brightcom Group Ltd.

     984,878        174,967  

Carborundum Universal Ltd.

     45,256        542,802  

Castrol India Ltd.

     3,740,274        5,049,535  

Century Textiles & Industries Ltd.

     82,031        632,831  

CESC Ltd.

     5,817,235        4,717,777  

City Union Bank Ltd.

     467,159        715,383  

Coforge Ltd.

     42,077        1,952,799  

Computer Age Management Services Ltd.

     73,212        1,809,265  

Cyient Ltd.

     368,438        4,461,874  

Dr. Lal PathLabs Ltd.(a)

     24,078        535,601  

EID Parry India Ltd.

     304,412        1,736,111  

Emami Ltd.

     537,407        2,344,627  

Engineers India Ltd.

     1,914,994        1,734,813  

EPL Ltd.

     273,571        539,935  

Exide Industries Ltd.*

     794,043        1,719,344  

Federal Bank Ltd.

     2,358,432        3,796,679  

Finolex Industries Ltd.

     548,940        1,139,527  

Galaxy Surfactants Ltd.

     7,378        209,124  

GHCL Ltd.

     200,704        1,229,757  

Glenmark Pharmaceuticals Ltd.

     130,423        737,475  

Godawari Power & Ispat Ltd.

     140,572        596,789  

Godrej Agrovet Ltd.(a)

     73,324        368,215  

Graphite India Ltd.

     225,976        721,930  

Great Eastern Shipping Co. Ltd.

     227,286        1,782,584  

Grindwell Norton Ltd.

     50,814        1,161,428  

Gujarat Alkalies & Chemicals Ltd.

     41,348        294,403  

Happiest Minds Technologies Ltd.

     45,824        428,144  

HEG Ltd.

     73,059        818,488  

Hindustan Copper Ltd.

     495,208        592,629  

ICICI Securities Ltd.(a)

     465,554        2,424,852  

IDFC Ltd.

     2,284,975        2,183,978  

Indian Bank

     834,853        2,931,242  

Indian Energy Exchange Ltd.(a)

     583,243        908,051  

IRB Infrastructure Developers Ltd.

     1,786,270        546,645  

Jamna Auto Industries Ltd.

     698,556        847,031  

JK Cement Ltd.

     30,808        1,096,016  

JK Lakshmi Cement Ltd.

     62,134        598,337  

Jubilant Ingrevia Ltd.

     110,650        484,634  

Jyothy Labs Ltd.

     462,082        1,071,111  

Kajaria Ceramics Ltd.

     130,467        1,673,731  

Karnataka Bank Ltd.

     870,830        1,437,917  

Karur Vysya Bank Ltd.

     1,158,147        1,471,244  

KPIT Technologies Ltd.

     107,281        1,207,625  

KRBL Ltd.

     102,486        431,231  

KSB Ltd.

     40,567        1,034,037  

Mahindra CIE Automotive Ltd.

     193,697        826,805  

Mastek Ltd.

     26,779        502,132  

National Aluminium Co. Ltd.

     6,916,528        6,598,191  

Nava Ltd.

     167,841        445,323  

NBCC India Ltd.

     1,071,183        462,062  

NCC Ltd.

     2,192,116        2,830,086  

Nippon Life India Asset Management Ltd.(a)

     919,356      2,349,779  

NLC India Ltd.

     1,257,145        1,180,163  

NOCIL Ltd.

     291,165        732,142  

Oil India Ltd.

     2,465,337        7,549,077  

Orient Cement Ltd.

     306,213        409,675  

Orient Electric Ltd.

     28,678        94,323  

PCBL Ltd.

     949,507        1,341,378  

Praj Industries Ltd.

     139,253        577,803  

Quess Corp. Ltd.(a)

     71,169        320,112  

Ratnamani Metals & Tubes Ltd.

     26,865        647,856  

Redington Ltd.

     3,782,574        7,670,319  

Saregama India Ltd.

     125,178        504,398  

Sharda Cropchem Ltd.

     57,721        343,942  

SKF India Ltd.

     19,377        1,003,421  

Sonata Software Ltd.

     282,720        2,876,996  

Sun TV Network Ltd.

     369,374        1,869,062  

Suven Pharmaceuticals Ltd.

     92,209        530,034  

Symphony Ltd.

     65,515        808,469  

Tanla Platforms Ltd.

     62,939        400,728  

Torrent Power Ltd.

     482,779        2,998,332  

Transport Corp. of India Ltd.

     43,742        333,644  

Triveni Engineering & Industries Ltd.

     117,189        386,649  

TTK Prestige Ltd.

     89,126        758,220  

Usha Martin Ltd.

     479,967        1,252,735  

UTI Asset Management Co. Ltd.

     233,547        1,824,300  

V-Guard Industries Ltd.

     98,016        298,225  

Vaibhav Global Ltd.

     74,523        247,420  

Vardhman Textiles Ltd.

     848,473        3,032,233  

Vinati Organics Ltd.

     31,021        682,607  

Whirlpool of India Ltd.

     51,436        823,057  

Zensar Technologies Ltd.

     302,015        1,008,217  
     

 

 

 
Total India               127,009,502  
Indonesia – 2.8%      

Ace Hardware Indonesia Tbk PT

     153,000        4,877  

AKR Corporindo Tbk PT

     34,956,225        3,613,468  

Astra Agro Lestari Tbk PT

     2,393,700        1,293,072  

Bank BTPN Syariah Tbk PT

     5,512,900        805,179  

Bank Danamon Indonesia Tbk PT

     23,100        4,421  

Bank Tabungan Negara Persero Tbk PT

     12,686,300        1,036,428  

Bukit Asam Tbk PT

     61,328,400        16,319,338  

Ciputra Development Tbk PT

     21,250,500        1,410,134  

Cisarua Mountain Dairy Tbk PT

     4,828,300        1,487,662  

Dharma Satya Nusantara Tbk PT

     21,220,000        1,004,782  

Erajaya Swasembada Tbk PT

     41,549,300        1,440,904  

Harum Energy Tbk PT

     3,207,600        312,321  

Indika Energy Tbk PT

     8,550,300        1,374,252  

Indo Tambangraya Megah Tbk PT

     5,239,800        13,768,256  

Indocement Tunggal Prakarsa Tbk PT

     8,703,200        6,108,985  

Industri Jamu Dan Farmasi Sido Muncul Tbk PT

     11,272,170        654,026  

Japfa Comfeed Indonesia Tbk PT

     20,972,700        1,573,529  

Matahari Department Store Tbk PT

     10,721,900        3,525,224  

Mayora Indah Tbk PT

     4,378,700        779,695  

Medco Energi Internasional Tbk PT

     15,270,100        1,028,564  

 

See Notes to Financial Statements.

 

WisdomTree Trust      49  


Schedule of Investments (continued)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Medikaloka Hermina Tbk PT

     6,711,500      $ 606,495  

Mitra Keluarga Karyasehat Tbk PT

     89,600        17,508  

Pabrik Kertas Tjiwi Kimia Tbk PT

     798,400        358,081  

Pakuwon Jati Tbk PT

     27,069,700        819,610  

Perusahaan Gas Negara Tbk PT

     90,787,200        8,355,486  

Perusahaan Perkebunan London Sumatra Indonesia Tbk PT

     20,712,400        1,408,960  

Puradelta Lestari Tbk PT

     1,151,300        13,053  

Sawit Sumbermas Sarana Tbk PT

     26,943,100        3,036,703  

Summarecon Agung Tbk PT

     13,946,300        492,950  

Surya Esa Perkasa Tbk PT

     9,333,500        588,226  

Timah Tbk PT

     16,921,300        1,162,355  

Triputra Agro Persada Tbk PT

     15,277,500        636,796  

XL Axiata Tbk PT

     7,679,800        1,014,105  
     

 

 

 
Total Indonesia               76,055,445  
Malaysia – 3.0%      

Alliance Bank Malaysia Bhd

     8,611,100        6,635,182  

Astro Malaysia Holdings Bhd

     140,000        22,051  

Bermaz Auto Bhd

     9,147,700        4,788,938  

British American Tobacco Malaysia Bhd

     6,900        16,982  

Bursa Malaysia Bhd

     51,450        74,508  

Carlsberg Brewery Malaysia Bhd

     629,400        3,072,471  

CTOS Digital Bhd

     2,311,300        686,188  

Dialog Group Bhd

     7,520,100        4,022,082  

Fraser & Neave Holdings Bhd

     2,700        15,909  

Frontken Corp. Bhd

     1,710,300        1,209,323  

Gamuda Bhd

     10,026,042        9,270,539  

Heineken Malaysia Bhd

     923,700        5,547,433  

Hibiscus Petroleum Bhd

     4,915,400        1,102,832  

IJM Corp. Bhd

     79,000        28,646  

Inari Amertron Bhd

     8,877,575        4,949,311  

Malaysia Building Society Bhd

     101,828        13,500  

Malaysian Pacific Industries Bhd

     600        3,938  

My EG Services Bhd

     8,278,343        1,435,225  

QL Resources Bhd

     2,013,300        2,650,940  

Scientex Bhd

     17,700        13,839  

SP Setia Bhd Group

     4,033,800        543,935  

Supermax Corp. Bhd

     5,993,026        1,256,328  

Ta Ann Holdings Bhd

     3,818,601        2,734,681  

TIME dotCom Bhd

     9,178,300        11,544,377  

TSH Resources Bhd

     4,310,400        996,398  

Unisem M Bhd

     1,590,600        1,117,475  

United Plantations Bhd

     1,786,800        6,641,024  

ViTrox Corp. Bhd

     1,200        2,170  

VS Industry Bhd

     48,250        8,803  

Westports Holdings Bhd

     5,518,800        4,502,590  

Yinson Holdings Bhd

     2,188,700        1,274,778  

YTL Corp. Bhd

     21,598,800        3,010,371  
     

 

 

 
Total Malaysia               79,192,767  
Mexico – 4.8%      

Alpek SAB de CV(b)

     4,003,775        4,439,276  

Banco del Bajio SA(a)(b)

     7,783,935        28,280,136  

Bolsa Mexicana de Valores SAB de CV(b)

     3,727,861        7,971,462  

Corp. Inmobiliaria Vesta SAB de CV(b)

     2,671,117      8,377,567  

El Puerto de Liverpool SAB de CV, Class C1(b)

     717,001        4,495,949  

GCC SAB de CV

     2,648        20,950  

Genomma Lab Internacional SAB de CV, Class B(b)

     3,725,942        2,990,081  

Gentera SAB de CV

     2,598,967        2,844,240  

Grupo Aeroportuario del Centro Norte SAB de CV

     1,514,955        16,887,184  

Grupo Comercial Chedraui SAB de CV(b)

     3,050        17,483  

Kimberly-Clark de Mexico SAB de CV, Class A(b)

     7,264,460        15,272,425  

Megacable Holdings SAB de CV, Series CPO(b)

     1,583,269        4,025,691  

Promotora y Operadora de Infraestructura SAB de CV(b)

     919,189        9,160,836  

Qualitas Controladora SAB de CV(b)

     1,481,429        9,459,124  

Regional SAB de CV

     1,109,114        8,457,179  

TF Administradora Industrial S de Real de CV

     3,127,410        5,759,104  
     

 

 

 
Total Mexico               128,458,687  
Philippines – 0.6%      

Alliance Global Group, Inc.

     7,646,800        1,738,516  

Century Pacific Food, Inc.

     20,400        9,700  

DMCI Holdings, Inc.

     27,166,000        5,746,510  

GT Capital Holdings, Inc.

     188,120        1,785,522  

Megaworld Corp.

     144,000        5,297  

Metro Pacific Investments Corp.

     204,000        13,809  

Nickel Asia Corp.

     17,664,900        2,193,287  

Puregold Price Club, Inc.

     3,063,000        1,763,486  

Robinsons Land Corp.

     54,926        14,852  

Security Bank Corp.

     8,020        13,572  

Semirara Mining & Power Corp.

     6,257,900        3,723,776  

Wilcon Depot, Inc.

     10,500        5,794  
     

 

 

 
Total Philippines               17,014,121  
Poland – 0.7%      

Asseco Poland SA

     323,298        5,710,931  

CD Projekt SA(b)

     45,582        1,176,781  

Cyfrowy Polsat SA

     1,373,836        5,338,382  

Orange Polska SA

     2,285,681        3,621,606  

Warsaw Stock Exchange(b)

     320,089        2,670,349  
     

 

 

 
Total Poland               18,518,049  
Saudi Arabia – 2.0%      

Al Hammadi Holding

     203,283        2,640,074  

Al Moammar Information Systems Co.

     24,274        735,909  

Aldrees Petroleum & Transport Services Co.

     70,861        1,791,488  

AlKhorayef Water & Power Technologies Co.

     11,064        393,195  

Almunajem Foods Co.

     71,480        1,108,276  

Alujain Corp.

     62,114        605,635  

Arabian Cement Co.

     293,729        2,840,494  

Arabian Centres Co. Ltd.

     993,710        5,395,159  

Arabian Contracting Services Co.

     34,169        1,110,536  

Arriyadh Development Co.

     258,727        1,259,965  

Astra Industrial Group

     123,550        2,090,051  

Ataa Educational Co.

     23,412        393,558  

BinDawood Holding Co.

     30,318        532,263  

City Cement Co.

     264,295        1,450,430  

 

See Notes to Financial Statements.

 

50   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Leejam Sports Co. JSC

     100,506      $ 2,811,394  

Maharah Human Resources Co.

     80,450        1,288,074  

Middle East Paper Co.

     94,700        792,173  

Najran Cement Co.

     91,027        314,279  

National Co. for Learning & Education

     17,980        478,994  

National Gas & Industrialization Co.

     85,182        1,311,644  

National Medical Care Co.

     24,445        587,404  

Northern Region Cement Co.

     283,412        842,603  

Qassim Cement Co.

     116,730        2,092,850  

Saudi Automotive Services Co.

     92,255        913,039  

Saudi Cement Co.

     415,240        6,194,805  

Saudi Ceramic Co.

     99,008        828,210  

Saudi Chemical Co. Holding

     50,105        387,097  

Saudi Industrial Services Co.

     90,086        675,579  

Southern Province Cement Co.

     202,912        2,700,124  

Theeb Rent A Car Co.

     37,179        776,523  

United Electronics Co.

     150,721        3,119,861  

United International Transportation Co.

     91,619        1,420,525  

Yanbu Cement Co.

     304,055        2,835,049  
     

 

 

 
Total Saudi Arabia

 

     52,717,260  

South Africa – 9.3%

 

AECI Ltd.

     657,418        3,478,563  

African Rainbow Minerals Ltd.(b)

     1,022,605        13,294,297  

Afrimat Ltd.

     155,792        432,890  

Astral Foods Ltd.

     308,135        2,744,342  

AVI Ltd.

     2,669,503        10,562,159  

Barloworld Ltd.

     773,658        3,894,344  

Dis-Chem Pharmacies Ltd.(a)

     701,500        1,025,611  

DRDGOLD Ltd.

     24,417        23,464  

Equites Property Fund Ltd.

     6,538,284        5,663,995  

Foschini Group Ltd.

     1,176,912        6,032,980  

Growthpoint Properties Ltd.

     44,020,854        32,403,120  

Harmony Gold Mining Co. Ltd.

     12,868        53,075  

Hyprop Investments Ltd.

     3,743,693        6,266,743  

Investec Ltd.

     1,648,453        9,116,314  

JSE Ltd.

     389,658        2,151,382  

KAP Industrial Holdings Ltd.

     14,870,910        2,665,323  

Life Healthcare Group Holdings Ltd.

     3,076,110        3,344,408  

Momentum Metropolitan Holdings(b)

     7,095,696        7,050,704  

Motus Holdings Ltd.

     1,412,791        7,723,868  

Mr. Price Group Ltd.

     992,615        8,067,357  

Netcare Ltd.

     4,888,099        4,080,189  

Old Mutual Ltd.

     30,624,450        20,367,395  

Omnia Holdings Ltd.

     135,302        428,574  

OUTsurance Group Ltd.(b)

     1,782,168        3,508,588  

Pick n Pay Stores Ltd.

     1,120,875        2,670,390  

PSG Konsult Ltd.

     3,461,296        2,356,627  

Redefine Properties Ltd.

     63,135,009        12,952,596  

Resilient REIT Ltd.(b)

     2,705,979        7,107,151  

Reunert Ltd.

     843,324        2,870,890  

Royal Bafokeng Platinum Ltd.(b)

     430,583        3,479,125  

Santam Ltd.(b)

     328,061        5,269,685  

SPAR Group Ltd.(b)

     789,022        6,261,924  

Super Group Ltd.

     759,444        1,394,971  

Thungela Resources Ltd.

     2,429,332      27,678,707  

Tiger Brands Ltd.(b)

     668,041        7,549,984  

Truworths International Ltd.

     5,166,965        15,527,833  
     

 

 

 
Total South Africa

 

     249,499,568  

South Korea – 10.6%

 

Aekyung Chemical Co. Ltd.

     127,829        861,129  

AfreecaTV Co. Ltd.

     57        3,713  

Ahnlab, Inc.

     81        3,858  

AJ Networks Co. Ltd.

     197,399        714,175  

APTC Co. Ltd.*

     189,170        1,761,140  

Asia Paper Manufacturing Co. Ltd.

     19,396        529,652  

BGF Retail Co. Ltd.

     117        16,330  

BH Co. Ltd.

     376        7,220  

BNK Financial Group, Inc.

     2,420,992        12,106,355  

Caregen Co. Ltd.(b)

     14,396        2,156,331  

Cheil Worldwide, Inc.(b)

     451,615        6,459,324  

Chong Kun Dang Pharmaceutical Corp.

     8,845        527,228  

CJ Corp.

     46,175        3,699,391  

CJ ENM Co. Ltd.*

     36,177        2,387,068  

Com2uS Corp.(b)

     14,862        825,381  

Cowell Fashion Co. Ltd.(b)

     36,709        134,643  

CS Wind Corp.(b)

     28,829        1,614,344  

Cuckoo Homesys Co. Ltd.

     19,133        389,465  

Daeduck Electronics Co. Ltd.

     640        11,651  

Daesang Corp.

     88,582        1,334,327  

Daishin Securities Co. Ltd.

     181,320        1,782,768  

DB HiTek Co. Ltd.

     367        20,382  

DGB Financial Group, Inc.

     1,378,810        7,307,900  

DL E&C Co. Ltd.(b)

     109,950        2,732,175  

DL Holdings Co. Ltd.

     40,878        1,673,616  

DN Automotive Corp.

     240        13,919  

DongKook Pharmaceutical Co. Ltd.

     162        1,935  

Dongkuk Steel Mill Co. Ltd.

     288,609        2,704,636  

Dongsuh Cos., Inc.

     73,049        1,101,472  

Dongsung Finetec Co. Ltd.

     679        5,690  

Dongwon Systems Corp.

     8,059        264,641  

Doosan Bobcat, Inc.

     193,061        6,480,597  

DoubleUGames Co. Ltd.

     54        1,833  

Dreamtech Co. Ltd.

     193,547        1,503,061  

E-Mart, Inc.

     49,255        3,995,336  

Echo Marketing, Inc.

     571        5,526  

Eo Technics Co. Ltd.(b)

     28,598        1,957,278  

Fila Holdings Corp.(b)

     157,846        4,425,532  

GOLFZON Co. Ltd.

     87        8,547  

Green Cross Corp.

     11,339        1,063,480  

Green Cross Holdings Corp.

     4,945        58,572  

GS Engineering & Construction Corp.

     439,115        6,965,261  

GS Holdings Corp.

     496,878        15,419,496  

GS Retail Co. Ltd.(b)

     209,419        4,560,455  

HAESUNG DS Co. Ltd.

     207        8,395  

Hana Materials, Inc.

     117        3,802  

Handsome Co. Ltd.

     168        3,362  

Hanjin Transportation Co. Ltd.

     174        2,727  

Hankook & Co. Ltd.(b)

     129,739        1,190,906  

 

See Notes to Financial Statements.

 

WisdomTree Trust      51  


Schedule of Investments (continued)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Hanmi Science Co. Ltd.(b)

     31,975      $ 956,659  

Hanmi Semiconductor Co. Ltd.

     1,232        19,589  

Hansae Co. Ltd.(b)

     106,242        1,267,380  

Hansol Chemical Co. Ltd.(b)

     13,173        2,423,423  

Hansol Paper Co. Ltd.

     697        6,302  

Hanwha Aerospace Co. Ltd.

     367        27,965  

Hanwha Corp.

     944        19,034  

Hanwha Systems Co. Ltd.

     129,606        1,379,836  

Harim Holdings Co. Ltd.

     184,793        2,275,402  

HDC Holdings Co. Ltd.

     42,329        219,798  

Hite Jinro Co. Ltd.

     104,665        1,800,896  

HK inno N Corp.

     30,273        792,956  

HL Holdings Corp.

     25,365        609,843  

HL Mando Co. Ltd.(b)

     77,413        2,726,417  

Hotel Shilla Co. Ltd.

     22,236        1,392,045  

Hyosung Advanced Materials Corp.

     7,879        2,614,532  

Hyosung Corp.(b)

     72,726        3,776,378  

Hyundai Autoever Corp.

     7,240        626,204  

Hyundai Construction Equipment Co. Ltd.

     47,773        1,911,874  

Hyundai Department Store Co. Ltd.

     36,026        1,513,709  

Hyundai Elevator Co. Ltd.(b)

     151,532        3,689,799  

Hyundai Greenfood Co. Ltd.

     203,348        1,132,445  

Hyundai Marine & Fire Insurance Co. Ltd.(b)

     379,260        9,846,747  

Hyundai Steel Co.

     255,119        6,800,038  

Hyundai Wia Corp.

     150        6,452  

iMarketKorea, Inc.

     25,005        190,728  

Innocean Worldwide, Inc.

     237        7,400  

IS Dongseo Co. Ltd.*(b)

     71,779        2,246,798  

JB Financial Group Co. Ltd.(b)

     1,355,872        9,102,678  

Jusung Engineering Co. Ltd.(b)

     79,024        977,291  

JYP Entertainment Corp.(b)

     41,659        2,476,788  

K Car Co. Ltd.(b)

     94,434        923,413  

KCC Glass Corp.

     28,470        867,101  

KEPCO Engineering & Construction Co., Inc.

     9,257        533,299  

KEPCO Plant Service & Engineering Co. Ltd.

     661        19,193  

KG DONGBUSTEEL(b)

     35,916        278,367  

Kginicis Co. Ltd.(b)

     66,022        644,575  

KIWOOM Securities Co. Ltd.

     62,254        4,829,784  

Koentec Co. Ltd.

     1,653        8,990  

Koh Young Technology, Inc.

     481        6,244  

Kolmar BNH Co. Ltd.(b)

     48,977        891,620  

Kolmar Korea Co. Ltd.(b)

     29,893        962,105  

Kolon Global Corp.

     50,125        548,281  

Kolon Industries, Inc.

     47,731        1,631,547  

Korea Aerospace Industries Ltd.

     556        20,244  

Korea Gas Corp.*

     192,151        3,999,917  

Korean Reinsurance Co.

     654,672        3,655,925  

KT Skylife Co. Ltd.

     93,021        558,047  

Kukdo Chemical Co. Ltd.

     34,775        1,258,135  

Kumho Petrochemical Co. Ltd.

     118,741        13,106,795  

LEENO Industrial, Inc.

     123        13,539  

LF Corp.

     69,480        925,973  

LG HelloVision Co. Ltd.

     167,044        538,914  

LIG Nex1 Co. Ltd.

     231        12,847  

Lotte Chilsung Beverage Co. Ltd.

     57      7,220  

Lotte Data Communication Co.

     16,307        332,566  

LOTTE Fine Chemical Co. Ltd.(b)

     63,854        2,864,442  

Lotte Rental Co. Ltd.

     41,455        824,737  

Lotte Shopping Co. Ltd.(b)

     39,840        2,506,353  

LS Corp.(b)

     63,865        3,904,946  

LS Electric Co. Ltd.

     258        11,197  

LX International Corp.(b)

     188,326        4,187,915  

LX Semicon Co. Ltd.(b)

     69,954        6,018,242  

Mcnex Co. Ltd.

     30,258        727,484  

MegaStudyEdu Co. Ltd.

     153        6,852  

Meritz Financial Group, Inc.

     40,708        1,206,997  

Meritz Securities Co. Ltd.

     29,316        137,364  

Mirae Asset Securities Co. Ltd.

     1,326,730        6,583,459  

Nasmedia Co. Ltd.

     34,859        654,686  

NICE Holdings Co. Ltd.

     352        3,299  

NICE Information Service Co. Ltd.

     66,125        625,771  

NongShim Co. Ltd.

     42        12,227  

OCI Co. Ltd.(b)

     39,262        3,085,227  

Orion Holdings Corp.(b)

     34,677        453,357  

Pan Ocean Co. Ltd.(b)

     487,481        2,175,569  

Partron Co. Ltd.(b)

     170,266        1,078,999  

PI Advanced Materials Co. Ltd.(b)

     55,759        1,610,430  

Poongsan Corp.

     73,724        2,140,621  

Posco ICT Co. Ltd.(b)

     113,845        830,762  

Posco International Corp.(b)

     60,996        1,044,829  

PSK, Inc.(b)

     90,208        1,444,742  

S-1 Corp.(b)

     76,675        3,257,002  

Samjin Pharmaceutical Co. Ltd.

     457        7,442  

SAMPYO Cement Co. Ltd.(b)

     348,260        951,004  

Samyang Foods Co. Ltd.

     13,192        1,207,886  

SD Biosensor, Inc.(b)

     205,485        3,330,440  

Seah Besteel Holdings Corp.

     137,523        2,392,669  

SeAH Steel Corp.

     5,968        597,327  

Seegene, Inc.(b)

     137,185        2,613,349  

Seoul Semiconductor Co. Ltd.

     304,930        2,693,624  

SFA Engineering Corp.(b)

     75,493        2,278,968  

SGC Energy Co. Ltd.

     183        4,273  

Shinsegae International, Inc.

     32,446        539,583  

Shinsegae, Inc.

     9,976        1,651,364  

SIMMTECH Co. Ltd.

     246        6,000  

SK Chemicals Co. Ltd.(b)

     47,638        2,726,144  

SK Discovery Co. Ltd.

     121,741        2,955,038  

SK Networks Co. Ltd.

     2,377        8,226  

SKC Co. Ltd.(b)

     28,279        2,482,843  

SL Corp.

     349        7,479  

SNT Motiv Co. Ltd.

     222        7,989  

Soulbrain Co. Ltd.

     5,715        1,031,628  

SSANGYONG C&E Co. Ltd.(b)

     713,712        3,382,573  

ST Pharm Co. Ltd.

     8,620        489,980  

TES Co. Ltd.

     424        7,084  

TKG Huchems Co. Ltd.

     667        11,169  

Tokai Carbon Korea Co. Ltd.

     11,282        907,344  

Tongyang Life Insurance Co. Ltd.*

     542,084        1,586,465  

 

See Notes to Financial Statements.

 

52   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Unid Co. Ltd.

     86      $ 5,120  

Vieworks Co. Ltd.

     11,018        255,593  

Wemade Co. Ltd.(b)

     6,816        262,828  

Woori Investment Bank Co. Ltd.

     1,706,867        979,398  

Youlchon Chemical Co. Ltd.

     313        9,761  

Youngone Corp.(b)

     47,855        1,678,059  

Youngone Holdings Co. Ltd.

     20,320        1,000,508  
     

 

 

 
Total South Korea

 

     285,684,739  
Taiwan – 27.7%      

AcBel Polytech, Inc.

     12,303        15,577  

Acer, Inc.(b)

     20,799,000        19,229,554  

Alltek Technology Corp.(b)

     1,780,240        2,403,083  

AP Memory Technology Corp.(b)

     555,000        5,905,904  

Arcadyan Technology Corp.(b)

     1,116,681        3,905,954  

Asia Optical Co., Inc.(b)

     1,209,000        2,620,708  

Asia Vital Components Co. Ltd.(b)

     609,000        2,820,232  

Bank of Kaohsiung Co. Ltd.(b)

     1,746,000        705,339  

BenQ Materials Corp.(b)

     1,172,000        1,395,353  

BES Engineering Corp.(b)

     10,633,000        3,233,815  

Capital Securities Corp.(b)

     12,889,340        5,079,960  

Chang Wah Electromaterials, Inc.(b)

     2,536,000        3,081,764  

Charoen Pokphand Enterprise

     9,100        24,837  

Chenbro Micom Co. Ltd.

     3,000        8,237  

Cheng Loong Corp.(b)

     4,850,000        4,499,959  

Cheng Uei Precision Industry Co. Ltd.

     12,000        16,297  

Chicony Electronics Co. Ltd.(b)

     5,311,652        16,625,353  

Chicony Power Technology Co. Ltd.(b)

     2,077,625        5,527,141  

Chin-Poon Industrial Co. Ltd.(b)

     2,437,000        2,601,281  

China Bills Finance Corp.

     30,000        14,780  

China Chemical & Pharmaceutical Co. Ltd.

     12,000        10,247  

China General Plastics Corp.(b)

     3,247,000        2,804,700  

China Steel Chemical Corp.(b)

     505,726        1,918,429  

China Steel Structure Co. Ltd.

     3,000        5,794  

ChipMOS Technologies, Inc.(b)

     4,034,000        5,081,005  

Chong Hong Construction Co. Ltd.(b)

     1,351,000        3,478,722  

Chroma ATE, Inc.(b)

     1,164,132        6,786,548  

Chun Yuan Steel Industry Co. Ltd.(b)

     2,553,000        1,341,588  

Chung Hung Steel Corp.(b)

     6,191,000        5,368,007  

Chung Hwa Pulp Corp.(b)

     1,041,000        552,168  

Chung-Hsin Electric & Machinery Manufacturing Corp.(b)

     1,934,000        6,008,914  

Cleanaway Co. Ltd.

     3,161        19,518  

Compeq Manufacturing Co. Ltd.(b)

     4,773,000        7,265,902  

Continental Holdings Corp.(b)

     2,653,000        2,683,715  

CTCI Corp.(b)

     2,828,190        3,891,983  

DA CIN Construction Co. Ltd.

     15,000        16,455  

Darfon Electronics Corp.(b)

     1,075,000        1,557,024  

Daxin Materials Corp.

     3,000        8,217  

Depo Auto Parts Ind Co. Ltd.(b)

     116,000        346,314  

Eastern Media International Corp.(b)

     362,520        223,840  

Edom Technology Co. Ltd.(b)

     2,650,000        2,484,851  

Elan Microelectronics Corp.(b)

     1,660,409        5,442,444  

Elite Material Co. Ltd.(b)

     1,292,163        7,723,907  

Elite Semiconductor Microelectronics Technology, Inc.(b)

     2,062,000      5,641,337  

Ennoconn Corp.(b)

     559,243        4,867,375  

ENNOSTAR, Inc.(b)

     2,380,000        4,158,502  

Eternal Materials Co. Ltd.(b)

     5,110,319        5,261,795  

Evergreen International Storage & Transport Corp.(b)

     541,000        492,182  

Everlight Chemical Industrial Corp.(b)

     1,361,000        840,358  

Everlight Electronics Co. Ltd.(b)

     2,899,165        3,813,501  

Far Eastern Department Stores Ltd.

     3,280,841        2,451,404  

Far Eastern International Bank(b)

     15,793,017        5,757,533  

Faraday Technology Corp.(b)

     200,000        1,290,746  

Farglory F T Z Investment Holding Co. Ltd.

     3,000        6,523  

Farglory Land Development Co. Ltd.(b)

     2,390,640        4,451,902  

Feng Hsin Steel Co. Ltd.(b)

     1,582,950        3,540,484  

FLEXium Interconnect, Inc.*(b)

     1,647,028        5,355,309  

Flytech Technology Co. Ltd.

     6,000        14,445  

Formosa Advanced Technologies Co. Ltd.

     1,490,000        2,177,683  

Formosa International Hotels Corp.(b)

     398,000        3,646,999  

Formosan Union Chemical(b)

     2,828,000        2,340,606  

Fortune Electric Co. Ltd.

     3,000        6,828  

Foxsemicon Integrated Technology, Inc.(b)

     729,197        4,741,966  

Froch Enterprise Co. Ltd.(b)

     1,154,000        890,681  

Fusheng Precision Co. Ltd.(b)

     493,000        3,675,540  

Gemtek Technology Corp.(b)

     2,783,000        2,824,360  

Genius Electronic Optical Co. Ltd.

     280        3,545  

Getac Holdings Corp.(b)

     2,314,292        4,066,495  

Giant Manufacturing Co. Ltd.(b)

     1,021,051        5,902,126  

Gigabyte Technology Co. Ltd.(b)

     3,768,000        16,521,159  

Global Brands Manufacture Ltd.(b)

     1,705,400        1,895,978  

Global Mixed Mode Technology, Inc.(b)

     961,000        5,697,036  

Global PMX Co. Ltd.(b)

     172,000        816,290  

Gold Circuit Electronics Ltd.(b)

     509,700        1,628,830  

Goldsun Building Materials Co. Ltd.(b)

     7,632,000        6,993,441  

Grape King Bio Ltd.(b)

     446,988        2,642,511  

Great Wall Enterprise Co. Ltd.(b)

     2,949,259        4,949,738  

Greatek Electronics, Inc.(b)

     3,322,000        5,815,341  

HannsTouch Solution, Inc.

     12,000        3,890  

Highwealth Construction Corp.(b)

     9,089,651        12,284,724  

Hiwin Technologies Corp.(b)

     723,000        5,948,321  

Ho Tung Chemical Corp.

     30,000        8,838  

Holtek Semiconductor, Inc.(b)

     1,521,773        3,693,539  

Holy Stone Enterprise Co. Ltd.(b)

     904,000        2,983,890  

Hota Industrial Manufacturing Co. Ltd.

     3,146        7,429  

Hsin Kuang Steel Co. Ltd.(b)

     1,818,000        2,863,063  

Huaku Development Co. Ltd.(b)

     1,751,296        5,349,225  

Huang Hsiang Construction Corp.

     9,000        13,420  

Hung Sheng Construction Ltd.(b)

     1,754,000        1,322,089  

IBF Financial Holdings Co. Ltd.(b)

     12,642,139        5,127,857  

Inventec Corp.(b)

     12,683,000        13,308,871  

ITE Technology, Inc.(b)

     1,174,000        3,462,524  

ITEQ Corp.(b)

     1,345,000        3,458,855  

Jentech Precision Industrial Co. Ltd.(b)

     122,094        1,910,758  

Kenda Rubber Industrial Co. Ltd.(b)

     1,553,000        1,601,583  

 

See Notes to Financial Statements.

 

WisdomTree Trust      53  


Schedule of Investments (continued)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Kerry TJ Logistics Co. Ltd.

     6,000      $ 7,478  

Kindom Development Co. Ltd.(b)

     3,988,200        3,929,584  

King Slide Works Co. Ltd.

     88,004        1,111,340  

King Yuan Electronics Co. Ltd.(b)

     11,714,000        18,659,299  

King’s Town Bank Co. Ltd.(b)

     3,974,000        4,600,821  

Kinik Co.

     3,495        13,602  

Kinpo Electronics(b)

     1,844,000        793,379  

Kinsus Interconnect Technology Corp.(b)

     113,000        430,512  

KMC Kuei Meng International, Inc.(b)

     342,000        1,606,240  

KS Terminals, Inc.(b)

     199,000        467,313  

Kung Long Batteries Industrial Co. Ltd.

     3,000        14,090  

L&K Engineering Co. Ltd.

     1,506,000        2,396,443  

Lealea Enterprise Co. Ltd.(b)

     4,028,000        1,369,236  

Lelon Electronics Corp.(b)

     1,075,000        2,316,118  

Lian Hwa Food Corp.(b)

     512,820        1,514,164  

Lien Hwa Industrial Holdings Corp.(b)

     2,832,773        5,210,125  

Longchen Paper & Packaging Co. Ltd.(b)

     3,680,627        2,048,990  

Lotes Co. Ltd.(b)

     248,392        7,489,083  

Lotus Pharmaceutical Co. Ltd.*(b)

     546,000        4,501,059  

Macronix International Co. Ltd.(b)

     12,076,000        13,901,430  

Makalot Industrial Co. Ltd.(b)

     674,881        4,787,726  

Marketech International Corp.(b)

     204,000        894,458  

Merida Industry Co. Ltd.(b)

     583,043        3,226,628  

Mirle Automation Corp.(b)

     1,125,560        1,406,603  

Namchow Holdings Co. Ltd.(b)

     655,000        1,014,311  

Nichidenbo Corp.(b)

     1,690,000        3,297,019  

Nien Made Enterprise Co. Ltd.(b)

     820,000        8,806,634  

Nuvoton Technology Corp.(b)

     1,248,872        6,132,075  

O-Bank Co. Ltd.(b)

     4,432,000        1,409,040  

Oriental Union Chemical Corp.(b)

     2,267,000        1,481,675  

Pan Jit International, Inc.(b)

     1,225,000        2,868,626  

Pan-International Industrial Corp.(b)

     993,000        1,280,080  

Pou Chen Corp.

     10,093,000        10,342,445  

Powertech Technology, Inc.(b)

     5,617,000        16,787,815  

President Securities Corp.(b)

     5,158,520        2,727,717  

Primax Electronics Ltd.(b)

     2,249,000        4,461,437  

Promate Electronic Co. Ltd.(b)

     1,775,000        2,436,817  

Qisda Corp.(b)

     10,015,000        10,426,981  

Raydium Semiconductor Corp.(b)

     534,000        7,260,892  

Ruentex Industries Ltd.(b)

     4,672,000        8,669,612  

Run Long Construction Co. Ltd.(b)

     465,000        1,072,108  

San Fu Chemical Co. Ltd.(b)

     437,000        1,865,835  

Sanyang Motor Co. Ltd.(b)

     2,231,000        2,857,673  

ScinoPharm Taiwan Ltd.(b)

     762,000        650,694  

SDI Corp.

     3,000        13,006  

Sercomm Corp.

     6,488        20,201  

Sesoda Corp.(b)

     789,000        1,102,618  

Sheng Yu Steel Co. Ltd.(b)

     2,156,000        1,844,611  

Shin Zu Shing Co. Ltd.

     6,000        17,144  

Shinkong Insurance Co. Ltd.(b)

     1,181,000        1,935,525  

Shiny Chemical Industrial Co. Ltd.

     3,637        14,752  

Sigurd Microelectronics Corp.(b)

     2,850,000        5,232,449  

Sinbon Electronics Co. Ltd.(b)

     470,120        5,280,599  

Sincere Navigation Corp.(b)

     1,024,000        832,384  

Sinon Corp.

     18,000      22,347  

Sitronix Technology Corp.(b)

     461,000        3,595,944  

Sonix Technology Co. Ltd.(b)

     1,350,000        2,385,417  

Standard Chemical & Pharmaceutical Co. Ltd.

     6,000        10,897  

Standard Foods Corp.

     9,896        13,277  

Stark Technology, Inc.

     6,000        18,997  

Sunny Friend Environmental Technology Co. Ltd.(b)

     729,000        3,950,571  

Sunonwealth Electric Machine Industry Co. Ltd.

     9,000        15,489  

Sunrex Technology Corp.

     3,000        4,365  

Supreme Electronics Co. Ltd.(b)

     3,394,506        4,966,754  

Synnex Technology International Corp.(b)

     7,832,600        15,769,386  

Systex Corp.

     6,000        15,528  

T3EX Global Holdings Corp.(b)

     820,000        2,106,051  

TA Chen Stainless Pipe(b)

     4,728,000        7,065,408  

Ta Ya Electric Wire & Cable(b)

     985,000        836,267  

Taichung Commercial Bank Co. Ltd.

     7,669,250        3,488,599  

Taiflex Scientific Co. Ltd.

     9,000        12,592  

Tainan Spinning Co. Ltd.(b)

     4,109,000        2,273,968  

Taisun Enterprise Co. Ltd.(b)

     9,000        8,543  

Taita Chemical Co. Ltd.(b)

     1,646,900        1,146,704  

Taiwan Business Bank

     36,708        16,216  

Taiwan Cogeneration Corp.

     15,970        22,318  

Taiwan Fertilizer Co. Ltd.(b)

     2,688,000        4,943,854  

Taiwan Glass Industry Corp.(b)

     7,222,000        4,874,361  

Taiwan Hon Chuan Enterprise Co. Ltd.

     12,692        40,518  

Taiwan Navigation Co. Ltd.(b)

     1,102,000        1,123,807  

Taiwan Paiho Ltd.(b)

     1,163,000        2,253,617  

Taiwan PCB Techvest Co. Ltd.(b)

     1,962,302        2,668,176  

Taiwan Sakura Corp.

     6,000        12,572  

Taiwan Secom Co. Ltd.

     1,081,000        3,745,644  

Taiwan Surface Mounting Technology Corp.(b)

     776,000        2,477,287  

Taiwan-Asia Semiconductor Corp.

     15,000        19,115  

Teco Electric & Machinery Co. Ltd.(b)

     5,513,000        7,695,295  

Test Research, Inc.

     6,115        12,753  

Thinking Electronic Industrial Co. Ltd.

     3,000        15,075  

Ton Yi Industrial Corp.(b)

     4,468,000        2,832,167  

Tong Hsing Electronic Industries Ltd.(b)

     915,396        5,967,850  

Tong Yang Industry Co. Ltd.

     6,685        10,144  

Topco Scientific Co. Ltd.(b)

     1,012,521        6,285,129  

Transcend Information, Inc.(b)

     1,877,479        4,507,553  

Tripod Technology Corp.(b)

     2,259,928        8,313,061  

TSRC Corp.(b)

     3,878,000        3,591,743  

Ttet Union Corp.

     157,000        765,728  

Tung Ho Steel Enterprise Corp.(b)

     3,589,722        6,602,330  

TXC Corp.(b)

     1,891,549        5,529,119  

U-Ming Marine Transport Corp.(b)

     2,176,420        3,988,644  

Union Bank of Taiwan(b)

     2,746,000        1,429,480  

United Integrated Services Co. Ltd.(b)

     1,319,000        9,162,279  

Universal Cement Corp.(b)

     2,758,000        2,400,427  

USI Corp.(b)

     5,615,000        4,887,019  

Visual Photonics Epitaxy Co. Ltd.(b)

     816,750        2,475,935  

Wah Lee Industrial Corp.(b)

     1,113,580        3,203,863  

Walsin Technology Corp.(b)

     500,000        1,587,979  

Wan Hai Lines Ltd.(b)

     438,150        985,739  

 

See Notes to Financial Statements.

 

54   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2023

 

 

 

Investments    Shares      Value  

Weikeng Industrial Co. Ltd.(b)

     4,985,431      $ 4,903,971  

Weltrend Semiconductor(b)

     898,000        1,507,112  

Winbond Electronics Corp.(b)

     9,416,000        8,195,221  

Wistron Corp.(b)

     16,116,000        22,151,395  

Wistron NeWeb Corp.

     6,722        22,850  

WPG Holdings Ltd.(b)

     7,472,058        12,319,478  

WT Microelectronics Co. Ltd.(b)

     2,256,678        5,010,311  

YC INOX Co. Ltd.

     9,793        9,488  

YFY, Inc.(b)

     5,304,000        4,625,050  

Yieh Phui Enterprise Co. Ltd.(b)

     2,946,000        1,519,080  

Yulon Motor Co. Ltd.(b)

     1,616,000        3,991,237  

ZongTai Real Estate Development Co. Ltd.

     15,941        24,084  
     

 

 

 
Total Taiwan               744,536,519  
Thailand – 5.6%

 

Amata Corp. PCL, NVDR(b)

     6,063,500        4,025,192  

Asian Sea Corp. PCL, NVDR(b)

     1,446,800        507,723  

Asiasoft Corp. PCL, NVDR

     10,200        4,027  

Bangchak Corp. PCL, NVDR

     5,915,300        5,362,606  

Bangkok Chain Hospital PCL, NVDR(b)

     14,913,600        8,897,132  

Banpu PCL, NVDR(b)

     22,775,200        7,193,220  

Banpu Power PCL, NVDR(b)

     5,253,800        2,458,278  

BCPG PCL, NVDR(b)

     13,394,712        3,897,569  

Chularat Hospital PCL, NVDR(b)

     66,301,300        7,018,883  

Com7 PCL, NVDR

     15,000        13,379  

Dynasty Ceramic PCL, NVDR(b)

     50,785,800        3,445,622  

Eastern Polymer Group PCL, NVDR(b)

     7,340,100        1,738,699  

Gunkul Engineering PCL, NVDR(b)

     250,900        29,643  

Ichitan Group PCL, NVDR

     23,700        9,218  

IRPC PCL, NVDR(b)

     64,536,400        4,944,740  

Jay Mart PCL, NVDR(b)

     2,275,600        1,523,943  

KCE Electronics PCL, NVDR(b)

     3,214,600        4,253,857  

Kiatnakin Phatra Bank PCL, NVDR

     24,600        45,502  

Mega Lifesciences PCL, NVDR(b)

     2,967,900        3,623,624  

MK Restaurants Group PCL, NVDR(b)

     985,000        1,476,276  

Northeast Rubber PCL, NVDR(b)

     13,994,075        2,434,998  

Origin Property PCL, NVDR(b)

     9,246,000        3,136,529  

Polyplex Thailand PCL, NVDR(b)

     3,441,413        1,771,278  

Precious Shipping PCL, NVDR(b)

     8,172,300        3,274,178  

Prima Marine PCL, NVDR

     16,721,200        3,569,667  

PTG Energy PCL, NVDR(b)

     4,323,800        1,770,235  

Quality Houses PCL, NVDR

     367,200        25,987  

Rajthanee Hospital PCL, NVDR(b)

     2,138,900        1,798,315  

Ratch Group PCL, NVDR

     4,760,400        5,359,713  

Regional Container Lines PCL, NVDR(b)

     2,896,200        2,244,460  

Sansiri PCL, NVDR

     61,743,100        3,141,775  

Sino-Thai Engineering & Construction PCL, NVDR(b)

     3,460,900        1,275,255  

Somboon Advance Technology PCL, NVDR(b)

     4,394,000        2,441,468  

Supalai PCL, NVDR

     11,992,800        7,785,938  

Synnex Thailand PCL, NVDR(b)

     2,223,500        949,352  

Thai Oil PCL, NVDR

     1,021,600        1,568,475  

Thai Union Group PCL, NVDR

     12,913,400        5,324,724  

Thai Vegetable Oil PCL, NVDR

     4,401,870        3,411,304  

Thaifoods Group PCL, NVDR(b)

     10,251,000        1,573,849  

Thanachart Capital PCL, NVDR

     6,996,900      9,361,257  

Tisco Financial Group PCL, NVDR

     4,806,900        14,127,605  

TQM Alpha PCL, NVDR(b)

     1,857,900        1,792,973  

TTW PCL, NVDR

     22,672,300        5,801,510  

WHA Corp. PCL, NVDR

     53,417,000        6,717,155  

Workpoint Entertainment PCL, NVDR(b)

     7,500        3,816  
     

 

 

 
Total Thailand               151,130,949  
Turkey – 1.9%

 

Aksa Akrilik Kimya Sanayii AS

     9,292        34,757  

Aksa Enerji Uretim AS(b)

     575,798        840,524  

Alarko Holding AS

     249,936        844,405  

Alkim Alkali Kimya AS

     559,314        920,777  

Anadolu Efes Biracilik Ve Malt Sanayii AS

     910,753        3,046,124  

Arcelik AS

     15,886        96,996  

Aygaz AS

     485,738        1,696,730  

Brisa Bridgestone Sabanci Sanayi ve Ticaret AS

     278,052        684,012  

Coca-Cola Icecek AS

     2,524        26,785  

Dogus Otomotiv Servis ve Ticaret AS

     3,991        25,428  

EGE Endustri VE Ticaret AS

     51        12,100  

Emlak Konut Gayrimenkul Yatirim Ortakligi AS

     9,895,876        3,191,220  

Enerjisa Enerji AS(a)

     20,631        29,450  

Haci Omer Sabanci Holding AS

     5,078,283        10,466,105  

Is Yatirim Menkul Degerler AS

     7,955        17,754  

Kardemir Karabuk Demir Celik Sanayi ve Ticaret AS, Class D(b)

     4,915,128        4,860,074  

Kartonsan Karton Sanayi ve Ticaret AS

     139,936        491,362  

Koza Altin Isletmeleri AS(b)

     3,377,793        3,801,007  

Nuh Cimento Sanayi AS

     313,817        2,210,370  

Otokar Otomotiv Ve Savunma Sanayi AS*

     436        20,843  

Sarkuysan Elektrolitik Bakir Sanayi ve Ticaret AS

     1,072,433        1,709,635  

Selcuk Ecza Deposu Ticaret ve Sanayi AS

     682,746        1,130,381  

Tekfen Holding AS

     600,604        1,018,164  

Tofas Turk Otomobil Fabrikasi AS

     855,902        8,324,923  

Turk Traktor ve Ziraat Makineleri AS

     1,232        32,149  

Turkcell Iletisim Hizmetleri AS

     2,499,894        4,164,971  

Turkiye Petrol Rafinerileri AS

     0        10  

Turkiye Sise ve Cam Fabrikalari AS

     0        1  

Vestel Beyaz Esya Sanayi ve Ticaret AS

     3,893,827        2,038,706  

Yapi ve Kredi Bankasi AS

     61,215        30,519  
     

 

 

 
Total Turkey

 

     51,766,282  

TOTAL COMMON STOCKS

(Cost: $2,384,061,318)

 

 

     2,665,974,569  

EXCHANGE-TRADED FUND – 0.1%

 

United States – 0.1%

 

WisdomTree Emerging Markets High Dividend Fund(b)(c)

(Cost: $2,660,281)

     81,938        3,102,173  

 

See Notes to Financial Statements.

 

WisdomTree Trust      55  


Schedule of Investments (concluded)

WisdomTree Emerging Markets SmallCap Dividend Fund (DGS)

March 31, 2023

 

 

 

Investments    Shares      Value  

INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 3.4%

 

United States – 3.4%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(d)

(Cost: $92,666,436)

     92,666,436      $ 92,666,436  

TOTAL INVESTMENTS IN SECURITIES – 102.7%

(Cost: $2,479,388,035)

 

 

     2,761,743,178  

Other Assets less Liabilities – (2.7)%

 

     (73,303,800
     

 

 

 
NET ASSETS – 100.0%

 

   $ 2,688,439,378  

 

* 

Non-income producing security.

 

 

This security is being fair valued using significant unobservable inputs (i.e., Level 3 on the fair value hierarchy) by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust. The aggregate value of Level 3 fair valued securities is $1,492,086, which represents 0.06% of net assets.

 

 

Share amount represents a fractional share.

 

(a) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(b) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $522,562,240 and the total market value of the collateral held by the Fund was $560,322,280. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $467,655,844.

 

(c) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

(d) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate   Value at
3/31/2022
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2023
    Dividend
Income
 

WisdomTree Emerging Markets High Dividend Fund

  $ 12,543,585     $ 60,188,588     $ 65,139,920     $ (4,630,473   $ 140,393     $ 3,102,173     $ 1,688,074  

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

           

Investments in Securities

           

Common Stocks

           

China

   $ 510,728,433      $ 1,411,945      $ 359,641 *     $ 512,500,019  

South Korea

     284,552,294               1,132,445 *       285,684,739  

Other

     1,867,789,811                      1,867,789,811  

Exchange-Traded Fund

     3,102,173                      3,102,173  
Investment of Cash Collateral for Securities Loaned             92,666,436               92,666,436  

Total Investments in Securities

   $ 2,666,172,711      $ 94,078,381      $ 1,492,086      $ 2,761,743,178  

 

* 

Fair valuations using significant unobservable inputs were determined by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust.

 

See Notes to Financial Statements.

 

56   WisdomTree Trust


Schedule of Investments

WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.0%      
Australia – 2.7%      

Altium Ltd.

     7,873      $ 200,794  

Aristocrat Leisure Ltd.

     52,044        1,296,661  

Beach Energy Ltd.

     154,602        146,516  

Cochlear Ltd.

     5,315        842,551  

CSL Ltd.

     28,994        5,598,422  

Goodman Group

     183,658        2,311,263  

IDP Education Ltd.(a)

     14,345        262,382  

Northern Star Resources Ltd.

     144,457        1,190,994  

OZ Minerals Ltd.

     19,185        361,190  

Pro Medicus Ltd.(a)

     2,099        89,789  

REA Group Ltd.(a)

     9,283        858,173  

Technology One Ltd.

     14,305        139,304  

Washington H Soul Pattinson & Co. Ltd.(a)

     48,340        977,747  

WiseTech Global Ltd.

     3,080        134,373  
     

 

 

 
Total Australia               14,410,159  
Austria – 0.2%      

Verbund AG

     10,055        873,940  
Belgium – 0.5%      

Etablissements Franz Colruyt NV(a)

     31,616        924,681  

UCB SA

     16,597        1,486,542  
     

 

 

 
Total Belgium               2,411,223  
Brazil – 2.4%      

Atacadao SA

     63,151        154,320  

BB Seguridade Participacoes SA

     422,233        2,707,321  

Energisa SA

     126,879        1,005,473  

Engie Brasil Energia SA

     130,230        1,031,771  

Equatorial Energia SA

     160,282        852,266  

Localiza Rent a Car SA

     105,671        1,112,930  

Lojas Renner SA

     171,781        561,395  

Porto Seguro SA

     101,352        470,154  

Raia Drogasil SA

     98,579        475,372  

Sendas Distribuidora SA

     45,984        140,938  

TOTVS SA

     24,887        138,222  

Transmissora Alianca de Energia Eletrica SA

     226,258        1,554,276  

Vamos Locacao de Caminhoes Maquinas e Equipamentos SA

     29,739        78,303  

Vibra Energia SA

     342,833        974,355  

WEG SA

     175,108        1,400,449  
     

 

 

 
Total Brazil               12,657,545  
Canada – 4.2%      

Alimentation Couche-Tard, Inc.(a)

     38,976        1,956,936  

Canadian National Railway Co.

     67,052        7,900,974  

Canadian Pacific Railway Ltd.(a)

     36,779        2,828,234  

Constellation Software, Inc.

     482        904,953  

Dollarama, Inc.(a)

     3,415        203,812  

Enerplus Corp.(a)

     9,896        142,442  

FirstService Corp.(a)

     1,304        183,486  

Magna International, Inc.(a)

     54,077        2,892,551  

Ritchie Bros Auctioneers, Inc.(a)

     9,571        537,761  

Rogers Communications, Inc., Class B(a)

     72,271        3,345,074  

SNC-Lavalin Group, Inc.(a)

     3,525        86,526  

Tourmaline Oil Corp.(a)

     18,888      786,029  

Vermilion Energy, Inc.(a)

     8,466        109,661  
     

 

 

 
Total Canada               21,878,439  
China – 6.7%      

ANTA Sports Products Ltd.

     158,800        2,306,155  

Blue Moon Group Holdings Ltd.(a)(b)

     351,500        224,335  

China Conch Venture Holdings Ltd.

     803,000        1,401,423  

China Feihe Ltd.(b)

     1,601,000        1,201,268  

Country Garden Services Holdings Co. Ltd.

     503,000        870,163  

Fuyao Glass Industry Group Co. Ltd., Class H(b)

     200,000        871,343  

Kingsoft Corp. Ltd.

     54,200        266,859  

Li Ning Co. Ltd.

     193,900        1,528,979  

Nongfu Spring Co. Ltd., Class H(a)(b)

     174,500        1,003,659  

Pop Mart International Group Ltd.(a)(b)

     86,600        236,083  

Prosus NV*

     25,625        2,002,830  

Simcere Pharmaceutical Group Ltd.(a)(b)

     92,000        96,689  

Smoore International Holdings Ltd.(a)(b)

     499,000        640,758  

Sunny Optical Technology Group Co. Ltd.

     83,200        1,006,355  

Tencent Holdings Ltd.

     350,800        17,240,701  

WuXi AppTec Co. Ltd., Class H(b)

     32,940        344,928  

Yadea Group Holdings Ltd.(b)

     254,000        655,227  

Yihai International Holding Ltd.*(a)

     92,000        270,142  

Yum China Holdings, Inc.

     38,250        2,405,136  

Zhongsheng Group Holdings Ltd.

     144,800        713,859  
     

 

 

 
Total China               35,286,892  
Denmark – 5.0%      

Chr Hansen Holding A/S

     11,231        853,396  

Coloplast A/S, Class B

     22,661        2,980,462  

Novo Nordisk A/S, Class B

     126,745        20,071,278  

Pandora A/S

     19,472        1,861,279  

Royal Unibrew A/S

     6,399        558,094  

SimCorp A/S

     2,264        171,305  
     

 

 

 
Total Denmark               26,495,814  
Finland – 1.2%      

Kone Oyj, Class B

     94,878        4,947,849  

Valmet Oyj(a)

     47,565        1,542,042  
     

 

 

 
Total Finland               6,489,891  
France – 9.7%      

Bollore SE(a)

     188,189        1,163,365  

Gaztransport Et Technigaz SA

     5,126        524,613  

Hermes International

     3,230        6,541,211  

Kering SA

     16,283        10,614,398  

LVMH Moet Hennessy Louis Vuitton SE

     30,411        27,899,000  

Sartorius Stedim Biotech

     1,624        497,559  

Teleperformance

     3,648        878,679  

Verallia SA(b)

     26,302        1,123,029  

Vivendi SE

     171,436        1,732,187  
     

 

 

 
Total France               50,974,041  
Germany – 4.5%      

adidas AG

     28,622        5,061,867  

AIXTRON SE

     5,808        197,065  

Fielmann AG

     19,790        825,202  

 

See Notes to Financial Statements.

 

WisdomTree Trust      57  


Schedule of Investments (continued)

WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL)

March 31, 2023

 

 

 

Investments    Shares      Value  

Nemetschek SE

     4,386      $ 301,540  

Puma SE

     12,701        784,611  

Rheinmetall AG

     4,849        1,441,378  

SAP SE

     120,266        15,164,746  

VERBIO Vereinigte BioEnergie AG

     897        42,120  
     

 

 

 
Total Germany               23,818,529  
Hong Kong – 1.9%      

Hong Kong Exchanges & Clearing Ltd.

     174,100        7,722,549  

Techtronic Industries Co. Ltd.

     220,000        2,377,977  
     

 

 

 
Total Hong Kong               10,100,526  
India – 7.4%      

Aarti Industries Ltd.

     9,110        57,437  

ACC Ltd.

     18,350        372,258  

Adani Ports & Special Economic Zone Ltd.

     41,272        317,340  

Alkem Laboratories Ltd.

     2,856        118,021  

APL Apollo Tubes Ltd.

     4,043        59,298  

Asian Paints Ltd.

     23,800        799,772  

Astral Ltd.

     2,086        33,931  

Atul Ltd.

     417        35,311  

Bajaj Auto Ltd.

     24,689        1,167,044  

Balkrishna Industries Ltd.

     6,344        150,640  

Berger Paints India Ltd.

     11,952        84,598  

Bharat Petroleum Corp. Ltd.

     462,183        1,936,296  

Coforge Ltd.

     3,262        151,390  

Colgate-Palmolive India Ltd.

     30,516        559,709  

CRISIL Ltd.

     2,516        98,537  

Crompton Greaves Consumer Electricals Ltd.

     37,906        135,144  

Dabur India Ltd.

     64,897        430,291  

Deepak Nitrite Ltd.

     2,043        45,806  

Divi’s Laboratories Ltd.

     9,200        316,063  

Dr. Lal PathLabs Ltd.(b)

     1,818        40,440  

Eicher Motors Ltd.

     7,139        256,160  

Endurance Technologies Ltd.(b)

     2,501        37,786  

GlaxoSmithKline Pharmaceuticals Ltd.

     5,679        91,543  

Grindwell Norton Ltd.

     2,272        51,930  

Gujarat Gas Ltd.

     7,247        40,528  

Havells India Ltd.

     12,852        185,862  

HDFC Asset Management Co. Ltd.(b)

     16,111        334,806  

Hero MotoCorp Ltd.

     43,761        1,249,930  

Hindustan Unilever Ltd.

     107,725        3,356,112  

Indraprastha Gas Ltd.

     50,513        263,498  

Indus Towers Ltd.

     409,799        713,063  

Info Edge India Ltd.

     2,414        109,374  

Infosys Ltd.

     655,538        11,390,205  

Ipca Laboratories Ltd.

     3,748        36,957  

JK Cement Ltd.

     1,823        64,855  

JSW Steel Ltd.

     224,715        1,881,500  

Jubilant Foodworks Ltd.

     9,460        50,660  

Kajaria Ceramics Ltd.

     7,371        94,561  

Kansai Nerolac Paints Ltd.

     7,156        33,680  

KPIT Technologies Ltd.

     5,209        58,636  

L&T Technology Services Ltd.(b)

     2,520        103,598  

Laurus Labs Ltd.(b)

     11,495        40,975  

LTIMindtree Ltd.(b)

     4,346      251,701  

Marico Ltd.

     88,133        514,540  

Mphasis Ltd.

     16,018        350,005  

Navin Fluorine International Ltd.

     735        38,194  

Nestle India Ltd.

     3,443        825,511  

Nippon Life India Asset Management Ltd.(b)

     64,896        165,868  

Oracle Financial Services Software Ltd.

     12,306        488,714  

Page Industries Ltd.

     355        163,729  

Persistent Systems Ltd.

     3,428        192,272  

PI Industries Ltd.

     1,306        48,154  

Pidilite Industries Ltd.

     8,775        251,241  

Polycab India Ltd.

     2,101        73,629  

Prestige Estates Projects Ltd.

     7,684        37,699  

Ramco Cements Ltd.

     5,766        53,087  

Relaxo Footwears Ltd.

     3,395        35,153  

SBI Cards & Payment Services Ltd.

     8,905        80,205  

Shree Cement Ltd.

     407        129,688  

Siemens Ltd.

     2,080        84,209  

SKF India Ltd.

     1,482        76,744  

Sun TV Network Ltd.

     24,187        122,388  

Sundram Fasteners Ltd.

     6,759        80,434  

Supreme Industries Ltd.

     7,366        225,289  

Tata Consultancy Services Ltd.

     121,023        4,721,049  

Tata Elxsi Ltd.

     1,346        97,599  

Tech Mahindra Ltd.

     78,098        1,047,088  

Titan Co. Ltd.

     10,605        324,528  

Torrent Pharmaceuticals Ltd.

     7,811        146,098  

Trident Ltd.

     120,706        41,052  

Tube Investments of India Ltd.

     1,236        38,300  

TVS Motor Co. Ltd.

     6,938        90,939  

UltraTech Cement Ltd.

     6,370        590,796  

Varun Beverages Ltd.

     4,082        68,892  

Voltas Ltd.

     14,105        140,436  

Whirlpool of India Ltd.

     2,070        33,123  
     

 

 

 
Total India               38,983,899  
Indonesia – 0.1%      

Indofood CBP Sukses Makmur Tbk PT

     476,100        316,723  

Mayora Indah Tbk PT

     312,000        55,556  

Sumber Alfaria Trijaya Tbk PT

     1,329,200        255,300  
     

 

 

 
Total Indonesia               627,579  
Israel – 0.1%      

Strauss Group Ltd.*

     16,761        377,287  
Italy – 1.5%      

Amplifon SpA

     10,920        378,937  

Banca Generali SpA

     40,040        1,278,073  

Banca Mediolanum SpA

     244,455        2,219,785  

De’ Longhi SpA

     39,941        913,875  

Ferrari NV

     6,750        1,828,251  

Moncler SpA

     17,883        1,234,518  

Reply SpA

     1,015        127,367  
     

 

 

 
Total Italy               7,980,806  
Japan – 3.1%      

Asahi Intecc Co. Ltd.(a)

     8,900        155,411  

 

See Notes to Financial Statements.

 

58   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL)

March 31, 2023

 

 

 

Investments    Shares      Value  

Astellas Pharma, Inc.

     249,400      $ 3,528,591  

BayCurrent Consulting, Inc.

     5,600        229,318  

Benefit One, Inc.(a)

     12,800        180,425  

Capcom Co. Ltd.(a)

     17,800        633,278  

CyberAgent, Inc.(a)

     30,900        258,874  

Daifuku Co. Ltd.

     29,800        547,009  

Daito Trust Construction Co. Ltd.

     12,700        1,258,645  

Fancl Corp.

     9,200        168,184  

Goldwin, Inc.(a)

     2,800        265,084  

Hoya Corp.

     14,000        1,531,595  

Information Services International-Dentsu Ltd.

     4,300        168,007  

Kakaku.com, Inc.

     15,400        208,859  

Kobe Bussan Co. Ltd.(a)

     8,800        243,655  

Koei Tecmo Holdings Co. Ltd.(a)

     35,200        631,585  

M3, Inc.

     13,300        329,877  

MonotaRO Co. Ltd.(a)

     13,700        170,568  

Nexon Co. Ltd.

     16,200        384,033  

Nihon M&A Center Holdings, Inc.

     16,600        122,732  

Nomura Research Institute Ltd.

     34,100        785,307  

Obic Co. Ltd.(a)

     4,500        706,665  

Open House Group Co. Ltd.

     15,800        587,647  

Persol Holdings Co. Ltd.

     18,100        360,939  

Recruit Holdings Co. Ltd.

     42,300        1,160,080  

Relo Group, Inc.(a)

     10,900        172,398  

TechnoPro Holdings, Inc.

     12,200        334,127  

Workman Co. Ltd.(a)

     6,400        269,291  

ZOZO, Inc.(a)

     30,352        687,589  
     

 

 

 
Total Japan               16,079,773  
Malaysia – 0.3%      

CELCOMDIGI Bhd

     1,241,400        1,221,003  

MR DIY Group M Bhd(b)

     290,800        102,151  

Nestle Malaysia Bhd

     10,900        338,672  
     

 

 

 
Total Malaysia               1,661,826  
Mexico – 0.3%      

Kimberly-Clark de Mexico SAB de CV, Class A

     768,117        1,614,849  
Netherlands – 5.9%      

ASM International NV(a)

     2,220        896,992  

ASML Holding NV

     22,070        14,991,014  

BE Semiconductor Industries NV(a)

     28,200        2,454,095  

Koninklijke KPN NV

     1,042,255        3,686,957  

SBM Offshore NV

     66,962        994,868  

Universal Music Group NV

     217,524        5,507,646  

Wolters Kluwer NV

     21,264        2,687,949  
     

 

 

 
Total Netherlands               31,219,521  
Norway – 0.3%      

Salmar ASA

     35,144        1,529,503  

TOMRA Systems ASA

     12,305        206,785  
     

 

 

 
Total Norway               1,736,288  
Russia – 0.0%      

Evraz PLC*

     243,480        0  

Lukoil PJSC*

     68,533        0  

Lukoil PJSC, ADR*

     2,107        0  

Magnitogorsk Iron & Steel Works PJSC, GDR*(c)

     54,588        0  

MMC Norilsk Nickel PJSC*

     16,209      $ 0  

MMC Norilsk Nickel PJSC, ADR*

     12        0  

Novatek PJSC*

     97,470        0  

PhosAgro PJSC*

     8,504        0  

PhosAgro PJSC, GDR*(c)

     166        0  
     

 

 

 
Total Russia               0  
Saudi Arabia – 0.1%      

Bupa Arabia for Cooperative Insurance Co.

     5,863        271,463  

Mouwasat Medical Services Co.

     5,210        326,171  
     

 

 

 
Total Saudi Arabia               597,634  
Singapore – 0.4%      

Singapore Technologies Engineering Ltd.

     788,900        2,171,693  
South Africa – 0.4%      

Mr. Price Group Ltd.

     106,747        867,573  

Naspers Ltd., Class N

     5,664        1,051,223  

OUTsurance Group Ltd.(a)

     180,805        355,955  
     

 

 

 
Total South Africa               2,274,751  
South Korea – 0.1%      

Celltrion, Inc.

     4,230        486,734  
Spain – 0.2%      

Cie Automotive SA

     18,520        533,208  

Viscofan SA

     7,475        536,000  
     

 

 

 
Total Spain               1,069,208  
Sweden – 4.3%      

Alfa Laval AB

     43,654        1,556,373  

Atlas Copco AB, Class A

     297,050        3,768,144  

Atlas Copco AB, Class B

     153,098        1,759,596  

Beijer Ref AB(a)

     14,067        246,489  

Essity AB, Class B(a)

     97,256        2,779,935  

Evolution AB(b)

     18,282        2,447,461  

Husqvarna AB, Class B(a)

     106,962        926,700  

Investment AB Latour, Class B(a)

     54,622        1,109,344  

Nibe Industrier AB, Class B

     44,821        509,175  

Nordnet AB publ

     56,348        927,853  

Sandvik AB

     178,662        3,787,041  

Telefonaktiebolaget LM Ericsson, Class B(a)

     493,021        2,881,231  
     

 

 

 
Total Sweden

 

     22,699,342  
Switzerland – 9.7%

 

ABB Ltd., Registered Shares

     312,240        10,721,875  

Givaudan SA, Registered Shares

     1,045        3,400,783  

Logitech International SA, Registered Shares

     16,924        983,706  

Lonza Group AG, Registered Shares

     2,117        1,268,508  

Nestle SA, Registered Shares

     168,847        20,600,609  

Partners Group Holding AG

     5,270        4,942,626  

Schindler Holding AG, Participation Certificate

     3,397        751,501  

Schindler Holding AG, Registered Shares

     10,189        2,152,566  

Sika AG, Registered Shares

     10,449        2,922,357  

Sonova Holding AG, Registered Shares

     6,097        1,792,627  

Stadler Rail AG(a)

     16,717        653,272  

Straumann Holding AG, Registered Shares(a)

     5,073        757,160  

Temenos AG, Registered Shares

     4,334        300,209  
     

 

 

 
Total Switzerland

 

     51,247,799  

 

See Notes to Financial Statements.

 

WisdomTree Trust      59  


Schedule of Investments (continued)

WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL)

March 31, 2023

 

 

 

Investments    Shares      Value  
Taiwan – 9.3%

 

Accton Technology Corp.

     100,000      $ 1,047,705  

Global Unichip Corp.

     8,000        285,081  

Lotes Co. Ltd.

     13,337        402,114  

momo.com, Inc.

     16,120        478,081  

Nan Ya Printed Circuit Board Corp.

     101,000        938,763  

Taiwan Cement Corp.(a)

     1,529,000        1,827,920  

Taiwan Semiconductor Manufacturing Co. Ltd.

     2,434,000        42,608,490  

Voltronic Power Technology Corp.

     11,000        625,010  

Wiwynn Corp.

     23,000        849,824  
     

 

 

 
Total Taiwan

 

     49,062,988  
Thailand – 0.4%

 

Carabao Group PCL, NVDR

     97,700        273,571  

CP ALL PCL, NVDR

     615,200        1,115,438  

Delta Electronics Thailand PCL, NVDR

     9,600        320,608  

Energy Absolute PCL, NVDR

     56,900        126,463  

Siam Makro PCL, NVDR

     194,100        222,794  
     

 

 

 
Total Thailand

 

     2,058,874  
Turkey – 0.7%

 

Aksa Enerji Uretim AS(a)

     28,860        42,128  

Arcelik AS

     48,584        296,642  

Aselsan Elektronik Sanayi ve Ticaret AS

     35,664        96,522  

BIM Birlesik Magazalar AS

     102,146        791,306  

Ford Otomotiv Sanayi AS

     29,427        896,684  

Iskenderun Demir ve Celik AS*

     162,339        272,327  

Tofas Turk Otomobil Fabrikasi AS

     76,583        744,884  

Turkcell Iletisim Hizmetleri AS

     245,616        409,211  
     

 

 

 
Total Turkey

 

     3,549,704  
United Kingdom – 11.4%

 

Airtel Africa PLC(b)

     631,935        832,144  

Ashtead Group PLC

     36,924        2,263,559  

Auto Trader Group PLC(b)

     69,277        527,822  

Compass Group PLC

     112,626        2,831,083  

Diageo PLC

     232,583        10,393,042  

Drax Group PLC

     74,776        561,675  

Games Workshop Group PLC

     7,967        949,617  

Hargreaves Lansdown PLC

     106,604        1,053,693  

Imperial Brands PLC

     341,923        7,880,446  

Intertek Group PLC

     23,084        1,156,816  

RELX PLC

     226,776        7,340,799  

Rightmove PLC

     72,552        505,050  

Rotork PLC

     123,264        479,786  

Sage Group PLC

     123,546        1,183,878  

Spectris PLC

     13,783        623,567  

Unilever PLC

     413,604        21,427,689  
     

 

 

 
Total United Kingdom

 

     60,010,666  
United States – 4.0%

 

GSK PLC

     1,194,998        21,114,266  
TOTAL COMMON STOCKS
(Cost: $477,407,053)
              522,022,486  
RIGHTS – 0.0%

 

Brazil – 0.0%

 

Localiza Rent a Car SA, expiring 5/11/23*
(Cost: $0)
     466      1,207  
EXCHANGE-TRADED FUNDS – 0.5%

 

United States – 0.5%

 

WisdomTree Emerging Markets High Dividend Fund(a)(d)

     27,025        1,023,167  
WisdomTree International Equity Fund(d)      31,150        1,549,089  
TOTAL EXCHANGE-TRADED FUNDS
(Cost: $2,162,086)
              2,572,256  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 3.6%

 

United States – 3.6%

 

State Street Navigator Securities Lending
Government Money Market Portfolio, 4.84%(e)

 

  
(Cost: $18,782,688)      18,782,688        18,782,688  

TOTAL INVESTMENTS IN SECURITIES – 103.1%

(Cost: $498,351,827)

 

 

     543,378,637  

Other Assets less Liabilities – (3.1)%

        (16,381,965
     

 

 

 
NET ASSETS – 100.0%             $ 526,996,672  
* 

Non-income producing security.

 

 

This security is being fair valued using significant unobservable inputs (i.e., Level 3 on the fair value hierarchy) by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust. The aggregate value of Level 3 fair valued securities is $0, which represents 0.0% of net assets.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $27,629,610 and the total market value of the collateral held by the Fund was $29,289,550. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $10,506,862.

 

(b) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(c) 

This security is exempt from registration under Regulation S of the Securities Act of 1933, which exempts from registration securities offered and sold outside the United States. This security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933.

 

(d) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

(e) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

See Notes to Financial Statements.

 

60   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree Global ex-U.S. Quality Dividend Growth Fund (DNL)

March 31, 2023

 

 

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate   Value at
3/31/2022
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2023
    Dividend
Income
 

WisdomTree Emerging Markets High Dividend Fund

  $ 166,769     $ 4,458,332     $ 3,423,153     $ (303,310   $ 124,529     $ 1,023,167     $ 123,356  

WisdomTree International Equity Fund

    246,448       6,644,413       5,258,615       (355,564     272,407       1,549,089       99,353  

Total

  $ 413,217     $ 11,102,745     $ 8,681,768     $ (658,874   $ 396,936     $ 2,572,256     $ 222,709  

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
    Amount and
Description of
Currency to be
Purchased
    Amount and
Description of
Currency to be
Sold
    Unrealized
Appreciation
    Unrealized
Depreciation
 

JP Morgan Chase Bank NA

    4/3/2023       442,295       BRL       86,230       USD     $ 1,004     $  

JP Morgan Chase Bank NA

    4/3/2023       442,657       BRL       86,301       USD       1,004        

Morgan Stanley & Co. International

    4/4/2023       107,396       USD       98,000       CHF       122        

Royal Bank of Canada

    4/3/2023       81,319       USD       110,000       CAD       39        

Standard Chartered Bank

    4/3/2023       2,324,024       HKD       296,060       USD             (5

Standard Chartered Bank

    4/3/2023       2,324,024       HKD       296,060       USD             (4

State Street Bank and Trust

    4/4/2023       35,515       USD       180,000       BRL       14        
                                            $ 2,183     $ (9

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 — Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

           

Investments in Securities

           

Common Stocks

           

Russia

   $      $      $ 0 *     $ 0  

Other

     522,022,486                      522,022,486  

Rights

     1,207                      1,207  

Exchange-Traded Funds

     2,572,256                      2,572,256  

Investment of Cash Collateral for Securities Loaned

            18,782,688               18,782,688  

Total Investments in Securities

   $ 524,595,949      $ 18,782,688      $ 0      $ 543,378,637  

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ 2,183      $      $ 2,183  

Liabilities:

           

Financial Derivative Instruments

           

Foreign Currency Contracts1

   $      $ (9    $      $ (9

Total – Net

   $ 524,595,949      $ 18,784,862      $ 0      $ 543,380,811  
* 

Fair valuations using significant unobservable inputs were determined by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust.

1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

WisdomTree Trust      61  


Schedule of Investments

WisdomTree Global High Dividend Fund (DEW)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.3%

 

Australia – 4.5%

 

Ampol Ltd.

     3,203      $ 65,407  

ANZ Group Holdings Ltd.

     21,614        331,934  

APA Group

     9,446        64,024  

BHP Group Ltd.

     72,067        2,279,645  

Commonwealth Bank of Australia(a)

     8,553        563,214  

Dexus(a)

     13,907        69,950  

Incitec Pivot Ltd.

     18,782        39,373  

JB Hi-Fi Ltd.(a)

     1,230        34,987  

Metcash Ltd.(a)

     20,077        51,769  

Mirvac Group(a)

     39,423        54,919  

National Australia Bank Ltd.(a)

     18,913        351,129  

New Hope Corp. Ltd.(a)

     7,782        29,604  

Rio Tinto Ltd.

     13,661        975,152  

South32 Ltd.

     54,995        160,960  

Stockland

     5,053        13,469  

Suncorp Group Ltd.

     6,090        49,394  

Telstra Group Ltd.

     82,965        234,488  

Viva Energy Group Ltd.(b)

     26,106        52,978  

Wesfarmers Ltd.

     4,255        143,202  

Westpac Banking Corp.(a)

     16,168        234,546  

Whitehaven Coal Ltd.

     6,009        27,085  

Woodside Energy Group Ltd.(a)

     15,650        349,456  
     

 

 

 
Total Australia

 

     6,176,685  
Austria – 0.2%

 

BAWAG Group AG*(b)

     866        42,019  

Erste Group Bank AG

     1,908        63,225  

OMV AG

     1,448        66,483  

Voestalpine AG

     1,421        48,291  
     

 

 

 
Total Austria

 

     220,018  
Belgium – 0.4%

 

Aedifica SA

     820        66,015  

Ageas SA/NV

     1,440        62,361  

Cofinimmo SA

     827        73,272  

Etablissements Franz Colruyt NV(a)

     454        13,278  

KBC Group NV

     2,761        189,880  

Proximus SADP

     4,675        45,174  

Solvay SA

     438        50,132  
     

 

 

 
Total Belgium

 

     500,112  
Brazil – 1.4%

 

B3 SA – Brasil Bolsa Balcao

     33,812        69,021  

Banco do Brasil SA

     26,855        207,149  

BB Seguridade Participacoes SA

     11,479        73,602  

Energisa SA

     5,828        46,185  

Engie Brasil Energia SA

     5,291        41,919  

JBS SA

     13,515        47,580  

Klabin SA

     9,047        32,278  

Neoenergia SA

     9,918        29,342  

Petroleo Brasileiro SA

     80,121        418,600  

Telefonica Brasil SA

     6,357        48,471  

TIM SA

     18,765        46,559  

Transmissora Alianca de Energia Eletrica SA

     5,902        40,544  

Vale SA

     50,016      792,029  
     

 

 

 
Total Brazil

 

     1,893,279  
Canada – 4.2%

 

Algonquin Power & Utilities Corp.(a)

     3,876        32,478  

AltaGas Ltd.(a)

     1,811        30,149  

Atco Ltd., Class I

     2,179        69,749  

Bank of Montreal(a)

     4,290        381,594  

Bank of Nova Scotia(a)

     9,342        469,878  

BCE, Inc.(a)

     4,557        203,850  

Canadian Imperial Bank of Commerce(a)

     6,915        292,828  

Canadian Natural Resources Ltd.(a)

     5,966        329,698  

Canadian Tire Corp. Ltd., Class A(a)

     401        52,259  

Canadian Utilities Ltd., Class A(a)

     2,743        76,330  

Capital Power Corp.(a)

     1,547        47,598  

Choice Properties Real Estate Investment Trust

     3,415        36,639  

Emera, Inc.(a)

     2,166        88,858  

Enbridge, Inc.

     10,739        408,897  

Fortis, Inc.(a)

     3,075        130,534  

Great-West Lifeco, Inc.(a)

     4,419        116,961  

Manulife Financial Corp.

     12,071        221,200  

National Bank of Canada(a)

     2,323        165,932  

Paramount Resources Ltd., Class A

     1,394        30,489  

Parkland Corp.(a)

     2,250        53,866  

Pembina Pipeline Corp.

     4,920        159,159  

Power Corp. of Canada(a)

     3,240        82,691  

Restaurant Brands International, Inc.(a)

     2,095        140,451  

Royal Bank of Canada(a)

     7,457        712,172  

Sun Life Financial, Inc.

     2,654        123,821  

Suncor Energy, Inc.(a)

     7,596        235,511  

TC Energy Corp.(a)

     5,106        198,339  

TELUS Corp.

     6,554        129,932  

Toronto-Dominion Bank

     9,382        561,180  

Whitecap Resources, Inc.(a)

     7,029        54,275  
     

 

 

 
Total Canada

 

     5,637,318  
Chile – 0.2%

 

Banco de Chile

     708,319        69,164  

Banco Santander Chile

     1,503,636        67,041  

Cencosud SA

     25,234        49,025  

Empresas COPEC SA

     7,870        55,844  
     

 

 

 
Total Chile

 

     241,074  
China – 3.8%

 

Agricultural Bank of China Ltd., Class H

     356,074        131,998  

Anhui Conch Cement Co. Ltd., Class H

     21,500        74,497  

Bank of China Ltd., Class H

     1,401,000        537,202  

Bank of Communications Co. Ltd., Class H

     388,000        244,170  

BOC Hong Kong Holdings Ltd.

     57,000        177,536  

China CITIC Bank Corp. Ltd., Class H

     187,000        94,096  

China Construction Bank Corp., Class H

     1,677,536        1,087,734  

China Feihe Ltd.(b)

     53,000        39,767  

China Life Insurance Co. Ltd., Class H

     109,000        179,122  

China Medical System Holdings Ltd.

     21,000        33,172  

China Pacific Insurance Group Co. Ltd., Class H

     37,600        99,868  

China Petroleum & Chemical Corp., Class H

     384,000        226,977  

 

See Notes to Financial Statements.

 

62   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Global High Dividend Fund (DEW)

March 31, 2023

 

 

 

Investments    Shares      Value  

China Railway Group Ltd., Class H

     59,000      $ 36,002  

China Shenhua Energy Co. Ltd., Class H

     81,500        256,441  

China Vanke Co. Ltd., Class H

     23,100        36,431  

COSCO Shipping Holdings Co. Ltd., Class H(a)

     59,000        66,366  

Great Wall Motor Co. Ltd., Class H(a)

     32,000        39,501  

Industrial & Commercial Bank of China Ltd., Class H

     1,198,000        637,920  

Longfor Group Holdings Ltd.(b)

     21,500        60,666  

PetroChina Co. Ltd., Class H

     452,000        267,747  

PICC Property & Casualty Co. Ltd., Class H

     72,000        73,468  

Ping An Insurance Group Co. of China Ltd., Class H

     58,000        377,557  

Postal Savings Bank of China Co. Ltd., Class H(a)(b)

     73,000        43,335  

Sinopharm Group Co. Ltd., Class H

     18,000        54,459  

Tingyi Cayman Islands Holding Corp.

     28,000        46,655  

Wilmar International Ltd.

     30,700        97,211  

Yankuang Energy Group Co. Ltd., Class H(a)

     22,000        78,752  
     

 

 

 
Total China

 

     5,098,650  
Czech Republic – 0.0%

 

CEZ AS

     1,161        56,468  
Denmark – 0.3%

 

AP Moller – Maersk A/S, Class B

     98        177,875  

Pandora A/S

     1,310        125,220  

Topdanmark A/S*

     1,415        75,697  
     

 

 

 
Total Denmark

 

     378,792  
Finland – 0.4%

 

Fortum Oyj*

     5,909        90,616  

Kone Oyj, Class B

     1,051        54,809  

Nordea Bank Abp(a)

     20,707        220,938  

Sampo Oyj, Class A

     1,724        81,440  

UPM-Kymmene Oyj*

     1,279        43,007  
     

 

 

 
Total Finland

 

     490,810  
France – 2.9%

 

ALD SA(b)

     3,404        39,941  

AXA SA

     16,297        498,686  

BNP Paribas SA

     8,244        494,499  

Bouygues SA(a)

     2,899        97,922  

Cie de Saint-Gobain

     2,201        125,112  

Cie Generale des Etablissements Michelin SCA

     2,675        81,797  

Danone SA

     1,541        95,950  

Engie SA

     22,782        360,728  

Gecina SA

     764        79,311  

Klepierre SA(a)

     2,259        51,172  

Orange SA

     20,729        246,650  

Publicis Groupe SA

     793        61,842  

Rexel SA*

     2,092        49,889  

Sanofi

     4,027        438,563  

Societe Generale SA

     5,581        126,029  

TotalEnergies SE(a)

     16,754        989,482  

Veolia Environnement SA

     4,283        132,153  
     

 

 

 
Total France

 

     3,969,726  
Germany – 2.6%

 

Allianz SE, Registered Shares

     1,985      458,925  

BASF SE

     5,560        292,126  

Bayer AG, Registered Shares

     3,156        201,341  

Bayerische Motoren Werke AG

     3,283        360,034  

Deutsche Post AG, Registered Shares

     5,597        262,024  

E.ON SE

     13,700        171,170  

Fielmann AG

     501        20,891  

Hapag-Lloyd AG(a)(b)

     1,778        583,376  

HeidelbergCement AG

     1,619        118,308  

Mercedes-Benz Group AG

     7,553        580,818  

Muenchener Rueckversicherungs – Gesellschaft AG in Muenchen, Registered Shares

     368        128,940  

Talanx AG

     2,025        93,943  

Telefonica Deutschland Holding AG

     22,186        68,383  

Volkswagen AG

     1,134        194,661  

Wacker Chemie AG

     347        56,324  
     

 

 

 
Total Germany

 

     3,591,264  
Hong Kong – 0.9%

 

Bank of East Asia Ltd.(a)

     33,200        42,209  

Champion REIT(a)

     98,000        42,072  

CLP Holdings Ltd.

     10,500        75,841  

Hang Lung Properties Ltd.

     19,000        35,531  

Henderson Land Development Co. Ltd.

     23,100        79,894  

Hong Kong & China Gas Co. Ltd.

     95,000        83,625  

Hysan Development Co. Ltd.

     3,000        8,522  

Link REIT(a)

     22,666        145,814  

New World Development Co. Ltd.

     2,000        5,363  

PCCW Ltd.

     120,000        59,924  

Power Assets Holdings Ltd.

     23,500        126,033  

Sino Land Co. Ltd.

     74,749        101,126  

Sun Hung Kai Properties Ltd.

     17,500        245,224  

Swire Pacific Ltd., Class B

     25,000        30,924  

Swire Properties Ltd.

     30,400        78,227  
     

 

 

 
Total Hong Kong

 

     1,160,329  
India – 0.7%

 

Bharat Petroleum Corp. Ltd.

     6,015        25,200  

Coal India Ltd.

     35,032        91,073  

GAIL India Ltd.

     37,155        47,539  

HCL Technologies Ltd.

     12,086        159,600  

Hindustan Petroleum Corp. Ltd.

     4,966        14,309  

Indian Oil Corp. Ltd.

     71,735        67,997  

Indus Towers Ltd.

     14,623        25,444  

NMDC Ltd.

     26,284        35,676  

NTPC Ltd.

     46,366        98,788  

Oil & Natural Gas Corp. Ltd.

     45,329        83,314  

Petronet LNG Ltd.

     14,925        41,561  

Power Grid Corp. of India Ltd.

     41,343        113,541  

Steel Authority of India Ltd.

     31,389        31,587  

Tata Steel Ltd.

     70,812        90,042  

Vedanta Ltd.

     14,646        48,911  
     

 

 

 
Total India

 

     974,582  

 

See Notes to Financial Statements.

 

WisdomTree Trust      63  


Schedule of Investments (continued)

WisdomTree Global High Dividend Fund (DEW)

March 31, 2023

 

 

 

Investments    Shares      Value  
Indonesia – 0.2%

 

Adaro Energy Indonesia Tbk PT

     256,000      $ 49,511  

Bukit Asam Tbk PT

     240,700        64,050  

Indo Tambangraya Megah Tbk PT

     11,100        29,167  

Indocement Tunggal Prakarsa Tbk PT

     62,600        43,940  

Indofood Sukses Makmur Tbk PT

     149,500        61,816  

United Tractors Tbk PT

     35,000        67,925  
     

 

 

 
Total Indonesia

 

     316,409  
Ireland – 0.1%

 

Smurfit Kappa Group PLC

     2,589        93,751  
Israel – 0.2%

 

Amot Investments Ltd.

     5,786        29,294  

Ashtrom Group Ltd.

     2,272        34,074  

Bank Leumi Le-Israel BM

     15,449        115,847  

First International Bank of Israel Ltd.

     1,402        49,256  

ICL Group Ltd.

     15,105        101,227  
     

 

 

 
Total Israel

 

     329,698  
Italy – 0.8%

 

A2A SpA

     40,931        65,370  

Assicurazioni Generali SpA

     7,744        154,640  

Banco BPM SpA

     10,745        42,084  

De’ Longhi SpA

     1,992        45,578  

Eni SpA(a)

     24,207        339,424  

Hera SpA

     31,272        88,404  

Mediobanca Banca di Credito Finanziario SpA

     5,747        57,868  

Poste Italiane SpA(b)

     4,564        46,670  

Snam SpA

     24,598        130,656  

Terna – Rete Elettrica Nazionale(a)

     5,524        45,408  

UnipolSai Assicurazioni SpA(a)

     5,179        13,099  
     

 

 

 
Total Italy

 

     1,029,201  
Japan – 2.6%

 

AGC, Inc.

     1,700        62,909  

Concordia Financial Group Ltd.(a)

     13,000        47,667  

Daiwa House Industry Co. Ltd.

     1,700        39,776  

ENEOS Holdings, Inc.

     20,800        72,704  

Haseko Corp.

     4,500        52,036  

Inpex Corp.

     5,200        54,583  

Isuzu Motors Ltd.

     2,400        28,474  

Japan Post Holdings Co. Ltd.

     16,200        131,034  

Japan Tobacco, Inc.

     10,500        220,745  

Kajima Corp.

     6,600        79,246  

Kansai Electric Power Co., Inc.(a)

     5,100        49,471  

Kawasaki Kisen Kaisha Ltd.(a)

     2,400        54,550  

Kuraray Co. Ltd.

     7,100        64,924  

Marubeni Corp.

     10,869        146,632  

Mitsubishi Chemical Group Corp.

     11,200        66,119  

Mitsubishi UFJ Financial Group, Inc.

     51,800        330,011  

Mitsui OSK Lines Ltd.(a)

     4,900        121,865  

Mizuho Financial Group, Inc.

     7,830        110,487  

MS&AD Insurance Group Holdings, Inc.

     1,600        49,362  

Nippon Steel Corp.(a)

     7,700        180,509  

Nippon Yusen KK(a)

     7,000        162,469  

Sekisui House Ltd.

     4,700        95,278  

Sharp Corp.(a)

     7,300      51,175  

SoftBank Corp.(a)

     32,900        377,971  

Sompo Holdings, Inc.

     1,200        47,354  

Sumitomo Chemical Co. Ltd.(a)

     6,900        23,071  

Sumitomo Corp.

     7,486        131,676  

Sumitomo Forestry Co. Ltd.

     3,400        66,932  

Sumitomo Mitsui Financial Group, Inc.(a)

     5,700        226,904  

Sumitomo Mitsui Trust Holdings, Inc.(a)

     1,800        61,416  

Takeda Pharmaceutical Co. Ltd.

     6,500        212,450  

Tosoh Corp.

     4,100        55,359  
     

 

 

 
Total Japan

 

     3,475,159  
Malaysia – 0.5%

 

CIMB Group Holdings Bhd

     93,800        112,879  

HAP Seng Consolidated Bhd

     30,700        35,483  

Kuala Lumpur Kepong Bhd

     7,500        35,320  

Malayan Banking Bhd

     67,193        130,503  

Maxis Bhd

     45,000        42,119  

Petronas Chemicals Group Bhd

     39,200        62,809  

Petronas Gas Bhd

     21,400        79,926  

RHB Bank Bhd

     63,300        80,048  

Sime Darby Bhd

     86,200        42,001  

Sime Darby Plantation Bhd

     34,600        33,483  

Tenaga Nasional Bhd

     39,800        83,253  
     

 

 

 
Total Malaysia

 

     737,824  
Mexico – 0.5%

 

Alfa SAB de CV, Class A

     98,061        62,021  

Alpek SAB de CV(a)

     18,104        20,073  

Banco del Bajio SA(b)

     17,813        64,717  

Coca-Cola Femsa SAB de CV

     7,503        60,141  

Fibra Uno Administracion SA de CV

     58,575        81,654  

Grupo Mexico SAB de CV, Series B

     46,760        220,981  

Kimberly-Clark de Mexico SAB de CV, Class A

     37,070        77,934  

Orbia Advance Corp. SAB de CV

     35,875        77,846  
     

 

 

 
Total Mexico

 

     665,367  
Netherlands – 0.6%

 

Aegon NV

     13,879        59,577  

ASR Nederland NV

     2,082        83,105  

BE Semiconductor Industries NV(a)

     713        62,049  

Koninklijke KPN NV

     43,672        154,489  

Koninklijke Vopak NV

     1,339        47,265  

NN Group NV

     1,870        67,979  

OCI NV

     2,810        95,434  

Randstad NV(a)

     2,377        141,004  

SBM Offshore NV

     2,008        29,833  

Signify NV(b)

     1,153        38,382  
     

 

 

 
Total Netherlands

 

     779,117  
Norway – 0.5%

 

Aker BP ASA

     3,763        92,089  

DNB Bank ASA

     11,557        206,739  

Norsk Hydro ASA

     9,181        68,202  

Telenor ASA

     16,977        198,898  

Yara International ASA

     1,271        55,085  
     

 

 

 
Total Norway

 

     621,013  

 

See Notes to Financial Statements.

 

64   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Global High Dividend Fund (DEW)

March 31, 2023

 

 

 

Investments    Shares      Value  
Philippines – 0.0%

 

PLDT, Inc.

     1,485      $ 38,788  
Poland – 0.1%

 

Polski Koncern Naftowy Orlen SA

     3,703        50,060  

Powszechna Kasa Oszczednosci Bank Polski SA

     17,297        114,509  
     

 

 

 
Total Poland

 

     164,569  
Portugal – 0.1%

 

EDP – Energias de Portugal SA

     17,572        95,761  

Galp Energia SGPS SA

     4,344        49,366  
     

 

 

 
Total Portugal

 

     145,127  
Russia – 0.0%

 

Evraz PLC*

     5,263        0  

Magnit PJSC*

     447        0  

Magnit PJSC, GDR*(c)

     1        0  

Magnitogorsk Iron & Steel Works PJSC, GDR*(c)

     1,299        0  

MMC Norilsk Nickel PJSC*

     321        0  

MMC Norilsk Nickel PJSC, ADR*

     5        0  

Mobile TeleSystems PJSC, ADR*

     3,583        0  

Novolipetsk Steel PJSC*

     11,640        0  

PhosAgro PJSC*

     247        0  

PhosAgro PJSC, GDR*(c)

     4        0  

Polyus PJSC, GDR*

     83        0  

Sberbank of Russia PJSC*

     14,088        0  

Sberbank of Russia PJSC, ADR*

     6,465        0  

Severstal PAO, GDR*(c)

     1,737        0  

Tatneft PJSC*

     2,124        0  

Tatneft PJSC, ADR*

     85        0  
     

 

 

 
Total Russia

 

     0  
Saudi Arabia – 0.4%

 

Advanced Petrochemical Co.

     3,770        48,007  

Arabian Centres Co. Ltd.

     6,692        36,333  

Sahara International Petrochemical Co.

     7,807        78,721  

Saudi Basic Industries Corp.

     8,173        196,612  

Saudi Cement Co.

     4,114        61,375  

Saudi Industrial Investment Group

     7,664        51,002  

Yanbu National Petrochemical Co.

     5,210        58,503  
     

 

 

 
Total Saudi Arabia

 

     530,553  
Singapore – 1.0%

 

CapitaLand Ascendas REIT

     32,700        70,341  

CapitaLand Integrated Commercial Trust

     40,600        60,463  

DBS Group Holdings Ltd.

     13,314        330,459  

Frasers Centrepoint Trust

     25,600        44,093  

Frasers Logistics & Commercial Trust

     62,100        61,187  

Keppel Corp. Ltd.

     6,900        29,218  

Mapletree Industrial Trust

     34,400        61,320  

Mapletree Logistics Trust

     40,000        51,446  

Mapletree Pan Asia Commercial Trust

     46,200        62,548  

Olam Group Ltd.

     56,600        66,836  

Oversea-Chinese Banking Corp. Ltd.

     27,613        256,909  

Singapore Technologies Engineering Ltd.

     18,300        50,376  

United Overseas Bank Ltd.

     10,313        230,841  

Venture Corp. Ltd.

     800        10,632  
     

 

 

 
Total Singapore

 

     1,386,669  
South Africa – 0.6%

 

Absa Group Ltd.

     8,299      85,027  

Anglo American Platinum Ltd.(a)

     515        27,691  

Exxaro Resources Ltd.

     6,060        63,717  

FirstRand Ltd.(a)

     38,179        129,928  

Impala Platinum Holdings Ltd.(a)

     9,510        87,813  

Nedbank Group Ltd.

     7,681        93,878  

Sanlam Ltd.

     16,290        51,755  

Sasol Ltd.

     4,207        56,908  

Standard Bank Group Ltd.

     12,978        126,404  

Thungela Resources Ltd.

     4,106        46,782  

Vodacom Group Ltd.

     10,227        70,345  
     

 

 

 
Total South Africa

 

     840,248  
South Korea – 0.5%

 

Hana Financial Group, Inc.

     1,796        56,149  

KB Financial Group, Inc.

     4,094        149,847  

KT&G Corp.

     539        34,737  

POSCO Holdings, Inc.

     917        259,213  

Shinhan Financial Group Co. Ltd.

     4,784        129,903  

Woori Financial Group, Inc.

     13,015        114,069  
     

 

 

 
Total South Korea

 

     743,918  
Spain – 2.0%

 

Acerinox SA

     6,621        68,150  

ACS Actividades de Construccion y Servicios SA

     3,762        119,960  

Banco Bilbao Vizcaya Argentaria SA(a)

     33,511        239,237  

Banco Santander SA(a)

     74,877        278,705  

Bankinter SA(a)

     6,275        35,628  

CaixaBank SA

     30,505        118,781  

Endesa SA(a)

     13,492        293,168  

Fluidra SA(a)

     2,402        42,250  

Fomento de Construcciones y Contratas SA

     5,655        55,295  

Iberdrola SA

     27,460        342,643  

Industria de Diseno Textil SA

     11,467        384,962  

Inmobiliaria Colonial Socimi SA

     12,566        79,525  

Merlin Properties Socimi SA

     10,418        91,228  

Naturgy Energy Group SA(a)

     6,303        190,029  

Red Electrica Corp. SA

     2,996        52,731  

Repsol SA

     8,037        123,861  

Telefonica SA

     43,321        186,994  
     

 

 

 
Total Spain

 

     2,703,147  
Sweden – 0.6%

 

Autoliv, Inc.

     572        53,402  

Fabege AB(a)

     5,144        39,497  

Husqvarna AB, Class B

     10,535        91,273  

Nordnet AB publ

     3,641        59,955  

Skandinaviska Enskilda Banken AB, Class A*(a)

     8,156        89,940  

SKF AB, Class B

     2,094        41,195  

SSAB AB, Class B

     12,195        86,933  

Svenska Handelsbanken AB, Class A(a)

     6,768        58,637  

Swedbank AB, Class A(a)

     8,454        138,719  

Tele2 AB, Class B

     3,507        34,919  

Telia Co. AB(a)

     28,951        73,623  

 

See Notes to Financial Statements.

 

WisdomTree Trust      65  


Schedule of Investments (continued)

WisdomTree Global High Dividend Fund (DEW)

March 31, 2023

 

 

 

Investments    Shares      Value  

Thule Group AB(b)

     2,549      $ 62,609  
     

 

 

 
Total Sweden

 

     830,702  
Switzerland – 2.1%

 

Baloise Holding AG, Registered Shares

     618        96,331  

Helvetia Holding AG, Registered Shares

     540        75,306  

Holcim AG, Registered Shares*

     3,101        199,933  

Julius Baer Group Ltd.

     1,688        115,151  

Kuehne & Nagel International AG, Registered Shares

     587        174,709  

Novartis AG, Registered Shares

     12,672        1,161,849  

OC Oerlikon Corp. AG, Registered Shares

     6,909        38,986  

Swiss Life Holding AG, Registered Shares

     136        83,843  

Swiss Prime Site AG, Registered Shares

     685        57,024  

Swiss Re AG

     1,980        203,386  

Swisscom AG, Registered Shares

     418        266,847  

Zurich Insurance Group AG

     901        431,687  
     

 

 

 
Total Switzerland

 

     2,905,052  
Taiwan – 3.4%

 

ASE Technology Holding Co. Ltd.

     82,000        302,981  

Asia Cement Corp.

     33,000        46,930  

Asustek Computer, Inc.

     11,000        98,448  

AUO Corp.

     149,000        90,043  

Cathay Financial Holding Co. Ltd.

     81,958        112,516  

China Development Financial Holding Corp.

     176,000        72,545  

China Steel Corp.

     313,000        317,652  

CTBC Financial Holding Co. Ltd.

     189,480        135,976  

Far Eastern New Century Corp.

     56,000        57,568  

Far EasTone Telecommunications Co. Ltd.

     23,000        56,806  

Formosa Chemicals & Fibre Corp.

     35,000        79,432  

Formosa Plastics Corp.

     78,000        235,172  

Fubon Financial Holding Co. Ltd.

     112,888        209,481  

Giant Manufacturing Co. Ltd.

     6,217        35,937  

Hon Hai Precision Industry Co. Ltd.

     92,000        314,246  

Innolux Corp.

     140,000        66,672  

Largan Precision Co. Ltd.

     1,000        71,434  

Lite-On Technology Corp.

     21,000        50,556  

MediaTek, Inc.

     24,000        620,346  

Mega Financial Holding Co. Ltd.

     95,314        103,304  

Micro-Star International Co. Ltd.

     15,000        70,942  

Nan Ya Plastics Corp.

     121,000        307,989  

Novatek Microelectronics Corp.

     7,000        99,204  

Pegatron Corp.

     33,680        77,100  

Pou Chen Corp.

     53,000        54,310  

Powerchip Semiconductor Manufacturing Corp.

     36,000        39,136  

Quanta Computer, Inc.

     39,210        114,742  

Realtek Semiconductor Corp.

     6,000        76,361  

Shin Kong Financial Holding Co. Ltd.

     174,000        48,118  

SinoPac Financial Holdings Co. Ltd.

     181,503        98,956  

Taiwan Mobile Co. Ltd.

     33,000        109,467  

United Microelectronics Corp.*

     132,000        229,339  

Wistron Corp.

     40,000        54,980  

Yang Ming Marine Transport Corp.

     41,000        86,585  

Yuanta Financial Holding Co. Ltd.

     137,430      100,881  
     

 

 

 
Total Taiwan

 

     4,646,155  
Thailand – 0.2%

 

PTT Exploration & Production PCL, NVDR

     19,200        84,504  

PTT PCL, NVDR

     162,500        149,693  

Siam Cement PCL, NVDR

     7,700        70,931  
     

 

 

 
Total Thailand

 

     305,128  
United Kingdom – 3.0%

 

Anglo American PLC

     7,899        261,553  

Aviva PLC

     12,904        64,491  

Bellway PLC

     2,259        61,645  

BP PLC

     75,293        475,535  

British American Tobacco PLC

     12,779        448,816  

British Land Co. PLC

     9,928        47,604  

BT Group PLC

     53,905        97,177  

Games Workshop Group PLC

     620        73,900  

HSBC Holdings PLC

     124,619        847,006  

Imperial Brands PLC

     7,641        176,105  

J. Sainsbury PLC

     21,822        75,198  

Kingfisher PLC

     21,171        68,374  

Land Securities Group PLC

     7,648        58,743  

Legal & General Group PLC

     20,047        59,216  

Lloyds Banking Group PLC

     318,856        187,958  

National Grid PLC

     28,124        381,296  

OSB Group PLC

     7,630        45,435  

Pennon Group PLC

     4,336        46,857  

Severn Trent PLC

     2,015        71,729  

SSE PLC

     4,686        104,466  

St. James’s Place PLC

     4,659        69,761  

Tesco PLC

     30,721        100,926  

Tritax Big Box REIT PLC

     35,289        61,043  

United Utilities Group PLC

     3,865        50,656  

Vodafone Group PLC

     186,631        206,069  
     

 

 

 
Total United Kingdom

 

     4,141,559  
United States – 56.8%

 

3M Co.

     6,231        654,940  

AbbVie, Inc.

     24,077        3,837,151  

Advance Auto Parts, Inc.

     512        62,264  

Agree Realty Corp.

     843        57,838  

Alliant Energy Corp.

     3,060        163,404  

Ally Financial, Inc.

     3,022        77,031  

Altria Group, Inc.

     48,881        2,181,070  

American Electric Power Co., Inc.

     6,132        557,951  

Americold Realty Trust, Inc.

     2,146        61,054  

Amgen, Inc.

     5,426        1,311,735  

Annaly Capital Management, Inc.(a)

     10,206        195,037  

Antero Midstream Corp.

     6,269        65,762  

Apartment Income REIT Corp.

     2,388        85,514  

Ares Management Corp., Class A

     1,366        113,979  

Atlantic Union Bankshares Corp.

     1,004        35,190  

AvalonBay Communities, Inc.

     980        164,699  

Avangrid, Inc.

     3,638        145,083  

 

See Notes to Financial Statements.

 

66   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree Global High Dividend Fund (DEW)

March 31, 2023

 

 

 

Investments    Shares      Value  

Bank of Hawaii Corp.

     461      $ 24,009  

Bank of New York Mellon Corp.

     6,175        280,592  

Bank OZK

     1,169        39,980  

Best Buy Co., Inc.

     2,955        231,288  

Black Hills Corp.

     981        61,901  

BlackRock, Inc.

     1,144        765,473  

Blackstone Mortgage Trust, Inc., Class A(a)

     1,723        30,756  

Blue Owl Capital, Inc.(a)

     5,063        56,098  

Boston Properties, Inc.

     1,715        92,816  

Brixmor Property Group, Inc.

     2,885        62,085  

Broadcom, Inc.

     3,337        2,140,819  

Brookfield Renewable Corp., Class A(a)

     3,164        110,582  

Cadence Bank

     1,541        31,991  

Cal-Maine Foods, Inc.

     1,050        63,934  

Campbell Soup Co.

     1,950        107,211  

Carlyle Group, Inc.

     4,011        124,582  

Cathay General Bancorp

     1,287        44,427  

Chemours Co.

     1,261        37,754  

Chevron Corp.

     22,831        3,725,106  

Chord Energy Corp.

     569        76,587  

Cisco Systems, Inc.

     34,858        1,822,202  

Citigroup, Inc.

     19,471        912,995  

Citizens Financial Group, Inc.

     4,412        133,992  

Clearway Energy, Inc., Class C

     1,349        42,264  

Clorox Co.

     934        147,796  

CMS Energy Corp.

     3,091        189,726  

CNA Financial Corp.

     3,478        135,746  

Coca-Cola Co.

     44,188        2,740,982  

Cogent Communications Holdings, Inc.

     521        33,198  

Cohen & Steers, Inc.

     886        56,669  

Columbia Banking System, Inc.

     2,157        46,203  

Comcast Corp., Class A

     36,963        1,401,267  

Comerica, Inc.

     1,082        46,980  

Conagra Brands, Inc.

     3,742        140,550  

Consolidated Edison, Inc.

     4,372        418,269  

Corning, Inc.

     6,499        229,285  

Cousins Properties, Inc.

     2,338        49,986  

Cracker Barrel Old Country Store, Inc.(a)

     362        41,123  

Crown Castle, Inc.

     4,032        539,643  

CubeSmart

     2,184        100,944  

CVB Financial Corp.

     1,199        19,999  

CVR Energy, Inc.(a)

     1,960        64,249  

Darden Restaurants, Inc.

     997        154,695  

Digital Realty Trust, Inc.

     3,353        329,633  

Dominion Energy, Inc.

     7,328        409,708  

Douglas Emmett, Inc.

     2,128        26,238  

Dow, Inc.

     13,970        765,835  

DTE Midstream LLC

     1,022        50,456  

Duke Energy Corp.

     7,198        694,391  

EastGroup Properties, Inc.

     567        93,736  

Eastman Chemical Co.

     1,032        87,039  

Edison International

     3,822        269,795  

Entergy Corp.

     1,659        178,741  

EPR Properties

     2,255        85,915  

Equitrans Midstream Corp.

     6,325      36,559  

Equity Residential

     4,663        279,780  

Essential Properties Realty Trust, Inc.

     3,410        84,738  

Essex Property Trust, Inc.

     510        106,661  

Evercore, Inc., Class A

     523        60,344  

Evergy, Inc.

     1,942        118,695  

Eversource Energy

     3,920        306,779  

Exelon Corp.

     7,241        303,325  

Extra Space Storage, Inc.

     1,005        163,745  

Exxon Mobil Corp.

     48,554        5,324,432  

Federal Realty Investment Trust

     478        47,241  

Fidelity National Financial, Inc.

     2,559        89,386  

Fifth Third Bancorp

     5,537        147,506  

First American Financial Corp.

     654        36,402  

First Interstate BancSystem, Inc., Class A

     745        22,246  

FirstEnergy Corp.

     7,300        292,438  

Flowers Foods, Inc.

     2,040        55,916  

Foot Locker, Inc.(a)

     1,265        50,208  

Ford Motor Co.

     44,786        564,304  

Franklin Resources, Inc.

     4,988        134,377  

Gaming & Leisure Properties, Inc.

     2,787        145,091  

Gap, Inc.

     5,225        52,459  

Gilead Sciences, Inc.

     17,837        1,479,936  

Goldman Sachs Group, Inc.

     2,323        759,877  

GSK PLC

     20,242        357,653  

Hannon Armstrong Sustainable Infrastructure Capital, Inc.(a)

     1,132        32,375  

Hasbro, Inc.

     1,333        71,569  

Hawaiian Electric Industries, Inc.

     867        33,293  

Healthpeak Properties, Inc.

     4,501        98,887  

Hewlett Packard Enterprise Co.

     11,614        185,011  

Highwoods Properties, Inc.

     3,228        74,857  

HP, Inc.

     8,817        258,779  

Huntington Bancshares, Inc.

     12,725        142,520  

Huntsman Corp.

     2,003        54,802  

Ingredion, Inc.

     469        47,711  

Innovative Industrial Properties, Inc.(a)

     482        36,627  

International Business Machines Corp.

     10,834        1,420,229  

International Flavors & Fragrances, Inc.

     2,095        192,656  

International Paper Co.

     3,767        135,838  

Interpublic Group of Cos., Inc.

     1,945        72,432  

Invesco Ltd.

     5,332        87,445  

Iron Mountain, Inc.

     3,046        161,164  

Jackson Financial, Inc., Class A

     1,426        53,347  

JBG SMITH Properties

     1,514        22,801  

Jefferies Financial Group, Inc.

     1,744        55,355  

JPMorgan Chase & Co.

     23,179        3,020,455  

Juniper Networks, Inc.

     2,431        83,675  

Kellogg Co.

     3,222        215,745  

KeyCorp

     7,647        95,740  

Kilroy Realty Corp.

     1,172        37,973  

Kimberly-Clark Corp.

     2,845        381,856  

Kimco Realty Corp.

     5,995        117,082  

Kinder Morgan, Inc.

     28,418        497,599  

 

See Notes to Financial Statements.

 

WisdomTree Trust      67  


Schedule of Investments (continued)

WisdomTree Global High Dividend Fund (DEW)

March 31, 2023

 

 

 

Investments    Shares      Value  

Kohl’s Corp.

     2,086      $ 49,104  

Kraft Heinz Co.

     11,445        442,578  

Lamar Advertising Co., Class A

     1,593        159,125  

LCI Industries(a)

     325        35,708  

Leggett & Platt, Inc.

     1,791        57,097  

Life Storage, Inc.

     1,200        157,308  

Lincoln National Corp.

     1,325        29,773  

LXP Industrial Trust

     2,942        30,332  

Macy’s, Inc.

     2,148        37,569  

ManpowerGroup, Inc.

     669        55,213  

MDU Resources Group, Inc.

     1,543        47,031  

Medical Properties Trust, Inc.(a)

     12,306        101,155  

Merck & Co., Inc.

     24,677        2,625,386  

MetLife, Inc.

     4,605        266,814  

Morgan Stanley

     13,807        1,212,255  

National Fuel Gas Co.

     996        57,509  

National Health Investors, Inc.

     526        27,131  

National Retail Properties, Inc.

     2,483        109,624  

National Storage Affiliates Trust

     1,493        62,378  

New Jersey Resources Corp.

     844        44,901  

New York Community Bancorp, Inc.(a)

     6,220        56,229  

NiSource, Inc.

     5,312        148,524  

Nordstrom, Inc.

     1,516        24,665  

Northern Oil & Gas, Inc.(a)

     2,312        70,169  

Northern Trust Corp.

     1,341        118,182  

NRG Energy, Inc.

     1,906        65,357  

OGE Energy Corp.

     2,413        90,874  

Old National Bancorp

     1,640        23,649  

Old Republic International Corp.

     1,738        43,398  

Omnicom Group, Inc.

     1,191        112,359  

ONE Gas, Inc.

     268        21,234  

OneMain Holdings, Inc.

     2,088        77,423  

Organon & Co.

     3,931        92,457  

Outfront Media, Inc.

     3,345        54,289  

PACCAR, Inc.

     2,953        216,160  

Pacific Premier Bancorp, Inc.

     1,242        29,833  

Packaging Corp. of America

     852        118,283  

PacWest Bancorp

     1,829        17,796  

Paramount Global, Class B

     7,132        159,115  

Patterson Cos., Inc.

     582        15,580  

Pfizer, Inc.

     68,926        2,812,181  

Philip Morris International, Inc.

     30,231        2,939,965  

Phillips 66

     4,315        437,455  

Phillips Edison & Co., Inc.

     1,325        43,222  

Pinnacle West Capital Corp.

     1,269        100,556  

PNC Financial Services Group, Inc.

     5,321        676,299  

Portland General Electric Co.

     1,250        61,112  

PotlatchDeltic Corp.

     1,202        59,499  

PPL Corp.

     4,732        131,502  

Principal Financial Group, Inc.

     2,384        177,179  

Prosperity Bancshares, Inc.

     584        35,928  

Prudential Financial, Inc.

     3,421        283,054  

Public Service Enterprise Group, Inc.

     3,968        247,802  

Radian Group, Inc.

     3,646        80,577  

Rayonier, Inc.

     1,369      45,533  

Realty Income Corp.

     6,780        429,310  

Regency Centers Corp.

     1,141        69,806  

Regions Financial Corp.

     7,436        138,012  

Reynolds Consumer Products, Inc.(a)

     1,368        37,620  

Rithm Capital Corp.

     8,123        64,984  

Ryder System, Inc.

     472        42,121  

Sabra Health Care REIT, Inc.

     3,837        44,126  

Scotts Miracle-Gro Co.(a)

     825        57,535  

Simon Property Group, Inc.

     4,894        547,981  

SL Green Realty Corp.

     906        21,309  

Sonoco Products Co.

     516        31,476  

Southern Co.

     14,637        1,018,442  

Southwest Gas Holdings, Inc.

     566        35,347  

Spirit Realty Capital, Inc.

     1,200        47,808  

STAG Industrial, Inc.

     2,116        71,563  

Starwood Property Trust, Inc.(a)

     7,020        124,184  

State Street Corp.

     3,168        239,786  

Stellantis NV

     21,145        384,476  

Synovus Financial Corp.

     941        29,011  

T. Rowe Price Group, Inc.

     2,298        259,444  

Tapestry, Inc.

     2,599        112,043  

TFS Financial Corp.(a)

     1,559        19,690  

Travel & Leisure Co.

     1,114        43,669  

Truist Financial Corp.

     13,306        453,735  

U.S. Bancorp

     21,973        792,127  

UDR, Inc.

     2,637        108,275  

UGI Corp.

     2,905        100,978  

United Bankshares, Inc.(a)

     1,111        39,107  

United Parcel Service, Inc., Class B

     9,121        1,769,383  

Unum Group

     1,737        68,716  

Vail Resorts, Inc.

     346        80,853  

Valero Energy Corp.

     4,483        625,827  

Valley National Bancorp

     4,114        38,013  

Ventas, Inc.

     4,028        174,614  

Verizon Communications, Inc.

     65,363        2,541,967  

Viatris, Inc.

     13,733        132,111  

VICI Properties, Inc.

     10,263        334,779  

Virtu Financial, Inc., Class A

     738        13,948  

Vistra Corp.

     4,959        119,016  

W.P. Carey, Inc.

     3,443        266,660  

Watsco, Inc.(a)

     269        85,585  

Webster Financial Corp.

     1,487        58,618  

WEC Energy Group, Inc.

     3,501        331,860  

Welltower, Inc.

     4,047        290,129  

Western Union Co.

     3,706        41,322  

Whirlpool Corp.

     588        77,628  

Williams Cos., Inc.

     13,976        417,323  
     

 

 

 
Total United States

 

     77,173,612  

TOTAL COMMON STOCKS

(Cost: $125,890,466)

 

 

     134,991,873  
EXCHANGE-TRADED FUNDS – 0.2%

 

United States – 0.2%

 

WisdomTree International High Dividend Fund(d)

     3,299        124,207  

 

See Notes to Financial Statements.

 

68   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree Global High Dividend Fund (DEW)

March 31, 2023

 

 

 

Investments    Shares      Value  

WisdomTree U.S. High Dividend Fund(d)

     944      $ 77,663  

TOTAL EXCHANGE-TRADED FUNDS

(Cost: $185,387)

 

 

     201,870  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 4.8%

 

United States – 4.8%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(e)

     
(Cost: $6,584,909)      6,584,909        6,584,909  

TOTAL INVESTMENTS IN SECURITIES – 104.3%

(Cost: $132,660,762)

        141,778,652  

Other Assets less Liabilities – (4.3)%

        (5,871,090
     

 

 

 
NET ASSETS – 100.0%

 

   $ 135,907,562  
* 

Non-income producing security.

 

 

This security is being fair valued using significant unobservable inputs (i.e., Level 3 on the fair value hierarchy) by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust. The aggregate value of Level 3 fair valued securities is $0, which represents 0.0% of net assets.

 

(a) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $9,655,572 and the total market value of the collateral held by the Fund was $10,129,274. The total market value of the collateral includes non-cash U.S. Government and U.S. Government Agencies securities collateral having a value of $3,544,365.

 

(b) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(c) 

This security is exempt from registration under Regulation S of the Securities Act of 1933, which exempts from registration securities offered and sold outside the United States. This security may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act of 1933.

 

(d) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

(e) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate   Value at
3/31/2022
    Purchases/
Additions
    Sales/
Reductions
   

Realized
Gain/

(Loss)

    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2023
    Dividend
Income
 

WisdomTree International High Dividend Fund

  $ 2,943     $ 1,738,897     $ 1,590,594     $ (43,281   $ 16,242     $ 124,207     $ 19,448  

WisdomTree U.S. High Dividend Fund

    969       1,160,328       1,044,800       (38,788     (46     77,663       8,709  

Total

  $ 3,912     $ 2,899,225     $ 2,635,394     $ (82,069   $ 16,196     $ 201,870     $ 28,157  

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2—Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

     

Investments in Securities

  

Common Stocks

           

Russia

   $      $      $ 0 *     $ 0  

Other

     134,991,873                      134,991,873  

Exchange-Traded Funds

     201,870                      201,870  

Investment of Cash Collateral for Securities Loaned

            6,584,909               6,584,909  

Total Investments in Securities

   $ 135,193,743      $ 6,584,909      $ 0      $ 141,778,652  
* 

Fair valuations using significant unobservable inputs were determined by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust.

 

See Notes to Financial Statements.

 

WisdomTree Trust      69  


Schedule of Investments

WisdomTree Growth Leaders Fund (PLAT)

March 31, 2023

 

 

 

Investments        Shares      Value  
COMMON STOCKS – 100.0%      
Argentina – 1.8%      

MercadoLibre, Inc.*

     138      $ 181,892  
China – 5.1%      

Alibaba Group Holding Ltd., ADR*

     2,017        206,097  

Bilibili, Inc., Class Z*

     3,940        95,163  

JD Health International, Inc.*(a)

     15,350        114,197  

Meituan, Class B*(a)

     6,300        115,166  
     

 

 

 
Total China

 

     530,623  
France – 0.8%      

Adevinta ASA*

     12,126        85,968  
Germany – 0.7%      

Delivery Hero SE*(a)

     2,202        75,048  
Israel – 0.8%      

Fiverr International Ltd.*

     2,197        76,719  
Netherlands – 0.7%      

Just Eat Takeaway.com NV*(a)

     3,998        76,144  
Poland – 1.1%      

Allegro.eu SA*(a)

     17,152        116,675  
United Kingdom – 1.6%      

Farfetch Ltd., Class A*(b)

     10,365        50,892  

London Stock Exchange Group PLC

     1,179        114,698  
     

 

 

 
Total United Kingdom

 

     165,590  
United States – 87.4%      

ACV Auctions, Inc., Class A*

     13,381        172,749  

Airbnb, Inc., Class A*

     1,301        161,844  

Alphabet, Inc., Class A*

     8,552        887,099  

Amazon.com, Inc.*

     6,723        694,419  

Angi, Inc.*(b)

     20,663        46,905  

Appian Corp., Class A*

     2,351        104,337  

Apple, Inc.

     6,836        1,127,256  

Bumble, Inc., Class A*

     3,553        69,461  

Cargurus, Inc.*

     4,503        84,116  

Cboe Global Markets, Inc.

     1,062        142,563  

Chegg, Inc.*

     5,532        90,172  

CoStar Group, Inc.*

     2,137        147,132  

Coursera, Inc.*

     6,838        78,774  

DoorDash, Inc., Class A*

     1,723        109,514  

Dropbox, Inc., Class A*

     5,302        114,629  

Etsy, Inc.*

     1,444        160,761  

GoodRx Holdings, Inc., Class A*

     15,339        95,869  

Intercontinental Exchange, Inc.

     1,520        158,521  

Lyft, Inc. , Class A*

     6,835        63,360  

MarketAxess Holdings, Inc.

     431        168,646  

MasterCard, Inc., Class A

     914        332,157  

Match Group, Inc.*

     1,553        59,620  

Meta Platforms, Inc., Class A*

     2,456        520,525  

Microsoft Corp.

     3,717        1,071,611  

Nasdaq, Inc.

     2,457        134,324  

PayPal Holdings, Inc.*

     2,055        156,057  

Pinterest, Inc., Class A*

     6,179        168,501  

Redfin Corp.*(b)

     10,984        99,515  

ROBLOX Corp., Class A*

     3,713      167,011  

Roku, Inc.*

     1,373        90,371  

Salesforce, Inc.*

     1,240        247,727  

Snap, Inc., Class A*

     8,443        94,646  

Snowflake, Inc., Class A*

     1,043        160,924  

Teladoc Health, Inc.*(b)

     3,394        87,905  

Tradeweb Markets, Inc., Class A

     1,814        143,342  

Uber Technologies, Inc.*

     5,575        176,727  

Upstart Holdings, Inc.*(b)

     2,502        39,757  

Upwork, Inc.*

     6,205        70,241  

Visa, Inc., Class A

     1,966        443,254  

Zillow Group, Inc., Class A*

     2,978        130,139  
     

 

 

 
Total United States

 

     9,072,481  

TOTAL COMMON STOCKS

(Cost: $14,159,489)

              10,381,140  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 0.4%

 

United States – 0.4%      

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(c)

     
(Cost: $46,490)      46,490        46,490  

TOTAL INVESTMENTS IN SECURITIES – 100.4%

(Cost: $14,205,979)

        10,427,630  

Other Assets less Liabilities – (0.4)%

        (41,527
     

 

 

 
NET ASSETS – 100.0%             $ 10,386,103  

 

* 

Non-income producing security.

 

(a) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(b) 

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $268,834 and the total market value of the collateral held by the Fund was $274,746. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $228,256.

 

(c) 

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

See Notes to Financial Statements.

 

70   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree Growth Leaders Fund (PLAT)

March 31, 2023

 

FAIR VALUATION SUMMARY          

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 – Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

           

Investments in Securities

           

Common Stocks

   $ 10,381,140      $      $      $ 10,381,140  

Investment of Cash Collateral for Securities Loaned

            46,490               46,490  

Total Investments in Securities

   $ 10,381,140      $ 46,490      $      $ 10,427,630  

 

See Notes to Financial Statements.

 

WisdomTree Trust      71  


Schedule of Investments

WisdomTree India Earnings Fund (EPI) (consolidated)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 101.9%      
India – 101.9%      
Aerospace & Defense – 0.8%      

Bharat Dynamics Ltd.

     39,126      $ 470,707  

Bharat Electronics Ltd.

     2,591,019        3,075,520  

Hindustan Aeronautics Ltd.

     81,174        2,697,585  

Mazagon Dock Shipbuilders Ltd.

     30,894        249,253  
     

 

 

 
Total Aerospace & Defense               6,493,065  
Air Freight & Logistics – 0.1%      

Allcargo Logistics Ltd.

     160,853        696,102  

TCI Express Ltd.

     5,329        96,808  

Transport Corp. of India Ltd.

     7,321        55,841  
     

 

 

 
Total Air Freight & Logistics               848,751  
Automobile Components – 1.6%      

Apollo Tyres Ltd.

     256,621        998,912  

Balkrishna Industries Ltd.

     43,966        1,043,987  

Bharat Forge Ltd.

     160,135        1,501,244  

Bosch Ltd.

     2,765        651,693  

Ceat Ltd.

     8,718        153,876  

Endurance Technologies Ltd.(a)

     16,177        244,409  

Exide Industries Ltd.*

     2,007,833        4,347,566  

Gabriel India Ltd.

     12        20  

JK Tyre & Industries Ltd.

     367,421        692,973  

Motherson Sumi Wiring India Ltd.

     801,355        470,482  

Samvardhana Motherson International Ltd.

     922,787        753,433  

Sundram Fasteners Ltd.

     42,308        503,480  

Suprajit Engineering Ltd.

     1,740        7,300  

Tube Investments of India Ltd.

     33,800        1,047,365  

UNO Minda Ltd.

     39,526        231,339  
     

 

 

 
Total Automobile Components               12,648,079  
Automobiles – 2.5%      

Bajaj Auto Ltd.

     76,877        3,633,960  

Eicher Motors Ltd.

     55,148        1,978,806  

Hero MotoCorp Ltd.

     94,639        2,703,141  

Mahindra & Mahindra Ltd.

     451,760        6,369,413  

Maruti Suzuki India Ltd.

     38,528        3,887,445  

TVS Motor Co. Ltd.

     90,567        1,187,099  
     

 

 

 
Total Automobiles               19,759,864  
Banks – 14.8%      

AU Small Finance Bank Ltd.(a)

     105,817        745,770  

Axis Bank Ltd.

     2,053,847        21,455,026  

Bandhan Bank Ltd.*(a)

     266,854        635,618  

Bank of Baroda

     1,560,257        3,205,663  

Bank of India

     2,462,720        2,236,998  

Bank of Maharashtra

     2,560,688        771,174  

Canara Bank

     738,351        2,555,580  

Central Bank of India Ltd.*

     1,185,292        347,587  

City Union Bank Ltd.

     318,797        488,189  

CSB Bank Ltd.*

     338,863        1,010,621  

DCB Bank Ltd.

     555,155        719,423  

Equitas Small Finance Bank Ltd.*(a)

     470        384  

Federal Bank Ltd.

     2,842,762      4,576,369  

ICICI Bank Ltd.

     3,290,647        35,125,727  

IDBI Bank Ltd.*

     1,829,060        1,001,523  

IDFC First Bank Ltd.*

     1,180,391        790,686  

Indian Bank

     868,391        3,048,997  

Indian Overseas Bank*

     1,462,300        399,460  

IndusInd Bank Ltd.

     373,664        4,855,711  

Jammu & Kashmir Bank Ltd.*

     1,096,694        654,553  

Karnataka Bank Ltd.

     754,679        1,246,128  

Karur Vysya Bank Ltd.

     1,243,087        1,579,147  

Kotak Mahindra Bank Ltd.

     512,577        10,807,886  

Punjab National Bank

     4,736,518        2,685,751  

South Indian Bank Ltd.*

     21,206        3,780  

State Bank of India

     1,941,666        12,374,259  

UCO Bank*

     370,251        109,477  

Union Bank of India Ltd.

     3,598,791        2,914,240  
     

 

 

 
Total Banks               116,345,727  
Beverages – 0.3%      

Radico Khaitan Ltd.

     55,301        803,852  

United Spirits Ltd.*

     56,447        519,464  

Varun Beverages Ltd.

     54,673        922,720  
     

 

 

 
Total Beverages               2,246,036  
Biotechnology – 0.1%      

Biocon Ltd.

     153,237        384,759  
Building Products – 0.2%      

Astral Ltd.

     22,578        367,320  

Blue Star Ltd.

     25,839        433,619  

Electrosteel Castings Ltd.

     15,782        6,164  

Kajaria Ceramics Ltd.

     10,668        136,857  

Prince Pipes & Fittings Ltd.

     35,438        233,932  
     

 

 

 
Total Building Products               1,177,892  
Capital Markets – 0.4%      

Anand Rathi Wealth Ltd.

     7,268        71,431  

Angel One Ltd.

     204        2,887  

CRISIL Ltd.

     8,688        340,257  

HDFC Asset Management Co. Ltd.(a)

     831        17,269  

ICICI Securities Ltd.(a)

     71,982        374,920  

Indian Energy Exchange Ltd.(a)

     312,733        486,894  

Motilal Oswal Financial Services Ltd.

     162,598        1,207,478  

Multi Commodity Exchange of India Ltd.

     15,913        293,640  

Nippon Life India Asset Management Ltd.(a)

     781        1,996  

Share India Securities Ltd.

     2,337        30,102  

UTI Asset Management Co. Ltd.

     66,463        519,161  
     

 

 

 
Total Capital Markets               3,346,035  
Chemicals – 4.1%      

Aarti Industries Ltd.

     249,422        1,572,573  

Advanced Enzyme Technologies Ltd.

     1,267        3,577  

Alkyl Amines Chemicals

     13,321        349,357  

Andhra Sugars Ltd.

     109,748        144,893  

Asian Paints Ltd.

     90,546        3,042,696  

Atul Ltd.

     15,423        1,305,989  

 

See Notes to Financial Statements.

 

72   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree India Earnings Fund (EPI) (consolidated)

March 31, 2023

 

 

 

Investments    Shares      Value  

Balaji Amines Ltd.

     4,846      $ 114,589  

BASF India Ltd.

     12,271        339,779  

Berger Paints India Ltd.

     85,591        605,826  

Bhansali Engineering Polymers Ltd.

     1,987        2,369  

Camlin Fine Sciences Ltd.*

     81,745        126,772  

Castrol India Ltd.

     1,462        1,974  

Chambal Fertilisers & Chemicals Ltd.

     235,555        756,975  

Chemplast Sanmar Ltd.*

     1,430        6,053  

Coromandel International Ltd.

     85,567        915,460  

DCM Shriram Ltd.

     82,968        754,544  

Deepak Fertilisers & Petrochemicals Corp. Ltd.

     80,301        536,138  

Deepak Nitrite Ltd.

     45,098        1,011,135  

EID Parry India Ltd.

     153,052        872,880  

Finolex Industries Ltd.

     477,279        990,768  

Galaxy Surfactants Ltd.

     12,688        359,632  

GHCL Ltd.

     91,943        563,355  

Gujarat Alkalies & Chemicals Ltd.

     30,627        218,068  

Gujarat Fluorochemicals Ltd.

     301        11,062  

Gujarat Narmada Valley Fertilizers & Chemicals Ltd.

     262,494        1,626,883  

Himadri Speciality Chemical Ltd.

     235,459        250,121  

India Glycols Ltd.

     149        1,114  

Jubilant Ingrevia Ltd.

     67,800        296,956  

Kansai Nerolac Paints Ltd.

     59,411        279,624  

Kiri Industries Ltd.*

     2,003        6,899  

Linde India Ltd.

     14,133        693,017  

Manali Petrochemicals Ltd.

     224,352        164,614  

Navin Fluorine International Ltd.

     14,989        778,901  

NOCIL Ltd.

     5,452        13,709  

Panama Petrochem Ltd.

     296        1,052  

PCBL Ltd.

     109,135        154,176  

PI Industries Ltd.

     29,102        1,073,037  

Pidilite Industries Ltd.

     38,153        1,092,374  

Polyplex Corp. Ltd.

     40,067        557,035  

Rain Industries Ltd.

     198,745        360,453  

Rallis India Ltd.

     180,834        424,456  

Rashtriya Chemicals & Fertilizers Ltd.

     331,249        384,323  

Sharda Cropchem Ltd.

     42,465        253,036  

Solar Industries India Ltd.

     3,499        161,469  

SRF Ltd.

     69,381        2,036,158  

Styrenix Performance Materials Ltd.

     3,048        26,529  

Sudarshan Chemical Industries Ltd.

     179,821        856,191  

Sumitomo Chemical India Ltd.

     22,332        115,787  

Supreme Industries Ltd.

     38,694        1,183,455  

Tata Chemicals Ltd.

     11,091        131,238  

Thirumalai Chemicals Ltd.

     167,215        349,558  

UPL Ltd.

     495,643        4,328,150  

Valiant Organics Ltd.(a)

     581        2,947  

Vinati Organics Ltd.

     10,696        235,362  
     

 

 

 
Total Chemicals               32,445,088  
Commercial Services & Supplies – 0.0%      

Indian Railway Catering & Tourism Corp. Ltd.

     38,983        271,706  
Communications Equipment – 0.0%      

Sterlite Technologies Ltd.

     150,562      $ 270,318  
Construction & Engineering – 2.3%      

Ashoka Buildcon Ltd.*

     655,330        590,082  

Hindustan Construction Co. Ltd.*

     2,202,572        367,173  

IRB Infrastructure Developers Ltd.

     2,214,260        677,622  

J Kumar Infraprojects Ltd.

     10,330        31,977  

Kalpataru Power Transmission Ltd.

     56,028        364,225  

KEC International Ltd.

     85,513        474,844  

KNR Constructions Ltd.

     200,131        617,811  

Larsen & Toubro Ltd.

     422,099        11,115,586  

NBCC India Ltd.

     1,012,895        436,919  

NCC Ltd.

     914,080        1,180,104  

Praj Industries Ltd.

     24        100  

PSP Projects Ltd.

     8,664        70,729  

Rail Vikas Nigam Ltd.

     1,324,507        1,105,603  

Voltas Ltd.

     85,259        848,881  
     

 

 

 
Total Construction & Engineering               17,881,656  
Construction Materials – 3.0%      

ACC Ltd.

     42,245        857,006  

Ambuja Cements Ltd.*

     452,290        2,011,798  

Birla Corp. Ltd.

     51,802        561,119  

Dalmia Bharat Ltd.

     58,641        1,404,437  

Grasim Industries Ltd.

     375,212        7,454,247  

HeidelbergCement India Ltd.

     8,995        17,616  

India Cements Ltd.

     77,324        174,110  

JK Cement Ltd.

     20,207        718,878  

JK Lakshmi Cement Ltd.

     104,456        1,005,889  

Orient Cement Ltd.

     442,612        592,160  

Ramco Cements Ltd.

     73,807        679,537  

Rhi Magnesita India Ltd.

     1,790        13,729  

Shree Cement Ltd.

     3,954        1,259,918  

UltraTech Cement Ltd.

     74,104        6,872,896  
     

 

 

 
Total Construction Materials               23,623,340  
Consumer Finance – 0.1%      

Cholamandalam Financial Holdings Ltd.

     102,101        676,719  

SBI Cards & Payment Services Ltd.

     1,196        10,772  
     

 

 

 
Total Consumer Finance               687,491  
Consumer Staples Distribution & Retail – 0.1%      

Avenue Supermarts Ltd.*(a)

     15,553        643,647  
Containers & Packaging – 0.0%      

AGI Greenpac Ltd.

     25,130        99,012  

EPL Ltd.

     9,459        18,669  

Jai Corp. Ltd.

     813        1,371  

Time Technoplast Ltd.

     17,599        16,489  

Uflex Ltd.

     26,844        109,604  
     

 

 

 
Total Containers & Packaging               245,145  
Diversified Telecommunication Services – 0.7%

 

HFCL Ltd.

     610,057        452,444  

Indus Towers Ltd.

     1,782,748        3,102,035  

Railtel Corp. of India Ltd.

     725        892  

 

See Notes to Financial Statements.

 

WisdomTree Trust      73  


Schedule of Investments (continued)

WisdomTree India Earnings Fund (EPI) (consolidated)

March 31, 2023

 

 

 

Investments    Shares      Value  

Tata Communications Ltd.

     108,955      $ 1,651,245  
     

 

 

 
Total Diversified Telecommunication Services               5,206,616  
Electric Utilities – 2.7%      

Adani Transmission Ltd.*

     28,254        341,406  

CESC Ltd.

     1,411,757        1,144,935  

Power Grid Corp. of India Ltd.

     6,047,727        16,609,035  

SJVN Ltd.

     87,961        35,588  

Tata Power Co. Ltd.

     841,938        1,949,061  

Torrent Power Ltd.

     192,281        1,194,174  
     

 

 

 
Total Electric Utilities               21,274,199  
Electrical Equipment – 0.7%      

ABB India Ltd.

     2,842        116,372  

Amara Raja Batteries Ltd.

     99,964        704,398  

CG Power & Industrial Solutions Ltd.

     38,818        141,725  

Finolex Cables Ltd.

     111,451        1,102,000  

Havells India Ltd.

     103,933        1,503,050  

KEI Industries Ltd.

     72,989        1,508,627  

Polycab India Ltd.

     17,021        596,493  
     

 

 

 
Total Electrical Equipment               5,672,665  
Electronic Equipment, Instruments & Components – 0.2%

 

  

Redington Ltd.

     921,065        1,867,739  
Entertainment – 0.1%      

Saregama India Ltd.

     147,705        595,169  
Financial Services – 0.3%      

Bajaj Finserv Ltd.

     165,840        2,555,731  

Infibeam Avenues Ltd.*

     635,866        109,482  
     

 

 

 
Total Financial Services               2,665,213  
Food Products – 1.3%      

Avanti Feeds Ltd.

     2,945        12,164  

Balrampur Chini Mills Ltd.

     319,070        1,536,482  

Britannia Industries Ltd.

     33,998        1,788,026  

CCL Products India Ltd.

     69,199        477,971  

Dalmia Bharat Sugar & Industries Ltd.

     8        33  

Godrej Agrovet Ltd.(a)

     1,689        8,482  

Gujarat Ambuja Exports Ltd.

     93,238        263,607  

Kaveri Seed Co. Ltd.

     46,396        269,826  

KRBL Ltd.

     112,106        471,709  

LT Foods Ltd.

     448,429        526,552  

Marico Ltd.

     205,690        1,200,865  

Mrs Bectors Food Specialities Ltd.

     31,736        206,193  

Nestle India Ltd.

     7,860        1,884,554  

Patanjali Foods Ltd.

     40        472  

Tata Coffee Ltd.

     35,585        89,133  

Tata Consumer Products Ltd.

     149,697        1,291,183  

Triveni Engineering & Industries Ltd.

     66,639        219,866  

Venky’s India Ltd.

     5,657        98,970  

Zydus Wellness Ltd.

     1,119        21,109  
     

 

 

 
Total Food Products               10,367,197  
Gas Utilities – 2.0%      

Adani Total Gas Ltd.

     13,520      142,755  

GAIL India Ltd.

     9,258,389        11,845,826  

Gujarat Gas Ltd.

     132,656        741,870  

Gujarat State Petronet Ltd.

     501,820        1,618,134  

Indraprastha Gas Ltd.

     246,423        1,285,450  
     

 

 

 
Total Gas Utilities               15,634,035  
Ground Transportation – 0.1%      

Container Corp. of India Ltd.

     105,505        744,919  
Health Care Equipment & Supplies – 0.0%      

Poly Medicure Ltd.

     10,208        118,330  
Health Care Providers & Services – 0.4%      

Apollo Hospitals Enterprise Ltd.

     21,541        1,129,938  

Aster DM Healthcare Ltd.*(a)

     91,009        266,551  

Dr. Lal PathLabs Ltd.(a)

     5,783        128,639  

Fortis Healthcare Ltd.*

     1,636        5,174  

Max Healthcare Institute Ltd.*

     162,560        872,512  

Metropolis Healthcare Ltd.(a)

     22,456        341,092  

Vijaya Diagnostic Centre Pvt Ltd.

     676        3,219  
     

 

 

 
Total Health Care Providers & Services               2,747,125  
Hotels, Restaurants & Leisure – 0.1%      

Delta Corp. Ltd.

     1,414        3,109  

Jubilant Foodworks Ltd.

     93,059        498,345  
     

 

 

 
Total Hotels, Restaurants & Leisure               501,454  
Household Durables – 0.2%      

Amber Enterprises India Ltd.*

     355        7,882  

Bajaj Electricals Ltd.

     4        51  

Crompton Greaves Consumer Electricals Ltd.

     216,060        770,305  

Dixon Technologies India Ltd.

     9,785        340,679  

Orient Electric Ltd.

     154,606        508,502  

Stove Kraft Ltd.*

     522        2,382  

Whirlpool of India Ltd.

     18,315        293,069  
     

 

 

 
Total Household Durables               1,922,870  
Household Products – 0.0%      

Jyothy Labs Ltd.

     35,738        82,841  
Independent Power & Renewable Electricity Producers – 2.8%

 

  

Adani Power Ltd.*

     374,675        873,516  

Jaiprakash Power Ventures Ltd.*

     3,243,170        219,020  

JSW Energy Ltd.

     245,970        720,857  

NHPC Ltd.

     5,326,550        2,605,510  

NLC India Ltd.

     51,805        48,633  

NTPC Ltd.

     8,063,398        17,180,068  
     

 

 

 
Total Independent Power & Renewable Electricity Producers

 

     21,647,604  
Industrial Conglomerates – 0.4%      

Apar Industries Ltd.

     10,373        316,166  

BEML Ltd.*

     15,621        67,477  

Godrej Industries Ltd.*

     42,541        209,049  

Nava Ltd.

     281,615        747,193  

Siemens Ltd.

     44,182        1,788,704  
     

 

 

 
Total Industrial Conglomerates               3,128,589  

 

See Notes to Financial Statements.

 

74   WisdomTree Trust


 

     

 

     

 

     

 

     

 

 

Schedule of Investments (continued)

WisdomTree India Earnings Fund (EPI) (consolidated)

March 31, 2023

 

 

 

Investments    Shares      Value  
Insurance – 0.6%      

HDFC Life Insurance Co. Ltd.(a)

     69,368      $ 421,361  

ICICI Lombard General Insurance Co. Ltd.(a)

     144,608        1,881,888  

ICICI Prudential Life Insurance Co. Ltd.(a)

     103,817        550,398  

Max Financial Services Ltd.*

     46,110        356,278  

New India Assurance Co. Ltd.(a)

     309,957        366,974  

SBI Life Insurance Co. Ltd.(a)

     67,046        898,298  
     

 

 

 
Total Insurance               4,475,197  
Interactive Media & Services – 1.4%      

Brightcom Group Ltd.

     2,278,387        404,763  

Info Edge India Ltd.

     214,947        9,738,885  

Just Dial Ltd.*

     82,409        596,840  
     

 

 

 
Total Interactive Media & Services               10,740,488  
IT Services – 11.5%      

Cigniti Technologies Ltd.

     51        463  

Coforge Ltd.

     19,233        892,606  

Happiest Minds Technologies Ltd.

     692        6,466  

HCL Technologies Ltd.

     1,009,183        13,326,631  

Infosys Ltd.

     2,022,007        35,133,087  

LTIMindtree Ltd.(a)

     30,431        1,762,430  

Mphasis Ltd.

     83,159        1,817,087  

Persistent Systems Ltd.

     25,272        1,417,471  

Sonata Software Ltd.

     69,939        711,708  

Tata Consultancy Services Ltd.

     597,675        23,315,016  

Tech Mahindra Ltd.

     576,957        7,735,468  

Wipro Ltd.

     928,935        4,128,537  

Zensar Technologies Ltd.

     154,603        516,111  
     

 

 

 
Total IT Services               90,763,081  
Life Sciences Tools & Services – 0.2%      

Divi’s Laboratories Ltd.

     43,398        1,490,922  

Syngene International Ltd.(a)

     61,325        443,619  
     

 

 

 
Total Life Sciences Tools & Services               1,934,541  
Machinery – 0.8%      

AIA Engineering Ltd.

     31,607        1,116,519  

Cochin Shipyard Ltd.(a)

     63,197        365,844  

Cummins India Ltd.

     89,790        1,780,449  

Escorts Kubota Ltd.

     18,394        423,253  

Grindwell Norton Ltd.

     14,497        331,350  

Jamna Auto Industries Ltd.

     202,204        245,182  

Schaeffler India Ltd.

     4,487        156,562  

SKF India Ltd.

     14,611        756,618  

Thermax Ltd.

     20,693        577,286  

Timken India Ltd.

     10,107        338,872  
     

 

 

 
Total Machinery               6,091,935  
Marine Transportation – 0.1%      

Shipping Corp. of India Land and Assets Ltd.*

     519,128        168,342  

Shipping Corp. of India Ltd.

     519,128        591,250  
     

 

 

 
Total Marine Transportation               759,592  
Media – 0.3%      

Affle India Ltd.*

     53,176        638,701  

Hathway Cable & Datacom Ltd.*

     20,687        3,260  

Network18 Media & Investments Ltd.*

     808,195      533,502  

Sun TV Network Ltd.

     85,803        434,170  

TV18 Broadcast Ltd.*

     451,171        157,834  

Zee Entertainment Enterprises Ltd.

     116,559        301,033  
     

 

 

 
Total Media               2,068,500  
Metals & Mining – 17.4%      

APL Apollo Tubes Ltd.

     82,766        1,213,908  

Hindalco Industries Ltd.

     3,281,148        16,183,656  

Hindustan Zinc Ltd.

     492,575        1,758,244  

Jindal Saw Ltd.

     251,376        446,272  

Jindal Stainless Ltd.*

     1,432,602        5,051,782  

Jindal Steel & Power Ltd.

     870,963        5,788,580  

JSW Steel Ltd.

     1,814,447        15,192,054  

Kirloskar Ferrous Industries Ltd.

     76,593        433,420  

Maharashtra Seamless Ltd.

     478        2,080  

Maithan Alloys Ltd.

     7,826        76,182  

Mishra Dhatu Nigam Ltd.(a)

     2,563        5,759  

MM Forgings Ltd.

     135        1,378  

National Aluminium Co. Ltd.

     3,753,871        3,581,097  

NMDC Ltd.

     3,738,416        5,074,320  

NMDC Steel Ltd.*

     3,443,700        1,301,091  

Ramkrishna Forgings Ltd.

     53,308        185,580  

Ratnamani Metals & Tubes Ltd.

     12,603        303,924  

Sandur Manganese & Iron Ores Ltd.

     35,906        449,052  

Sarda Energy & Minerals Ltd.

     75,881        985,694  

Shyam Metalics & Energy Ltd.

     1,519        4,858  

Steel Authority of India Ltd.

     9,185,266        9,243,105  

Sunflag Iron & Steel Co. Ltd.*

     62,857        112,777  

Surya Roshni Ltd.

     61,388        491,433  

Tata Metaliks Ltd.

     74,144        676,550  

Tata Steel Long Products Ltd.

     123,167        944,556  

Tata Steel Ltd.

     39,950,269        50,799,174  

Tinplate Co. of India Ltd.

     112,534        426,885  

Usha Martin Ltd.

     213,106        556,216  

Vedanta Ltd.

     4,360,701        14,562,643  

Welspun Corp. Ltd.

     399,188        973,896  
     

 

 

 
Total Metals & Mining               136,826,166  
Office REITs – 0.0%      

Mindspace Business Parks REIT(a)

     998        3,972  
Oil, Gas & Consumable Fuels – 18.1%      

Aegis Logistics Ltd.

     418,791        1,931,079  

Bharat Petroleum Corp. Ltd.

     1,946,555        8,155,007  

Chennai Petroleum Corp. Ltd.

     429,362        1,240,817  

Coal India Ltd.

     4,164,695        10,826,966  

Great Eastern Shipping Co. Ltd.

     206,608        1,620,408  

Hindustan Petroleum Corp. Ltd.

     2,439,799        7,030,017  

Indian Oil Corp. Ltd.

     16,195,127        15,351,205  

Oil & Natural Gas Corp. Ltd.

     16,355,726        30,061,539  

Oil India Ltd.

     2,045,992        6,265,006  

Petronet LNG Ltd.

     1,854,358        5,163,749  

Reliance Industries Ltd.

     1,912,634        54,250,546  
     

 

 

 
Total Oil, Gas & Consumable Fuels

 

     141,896,339  

 

See Notes to Financial Statements.

 

WisdomTree Trust      75  


Schedule of Investments (continued)

WisdomTree India Earnings Fund (EPI) (consolidated)

March 31, 2023

 

 

 

Investments    Shares      Value  
Paper & Forest Products – 0.1%

 

Century Plyboards India Ltd.

     43,506      $ 246,798  

Century Textiles & Industries Ltd.

     325        2,507  

Greenply Industries Ltd.

     102,256        172,890  

JK Paper Ltd.

     70,315        326,581  

West Coast Paper Mills Ltd.

     1,221        7,883  
     

 

 

 
Total Paper & Forest Products

 

     756,659  
Personal Care Products – 1.4%

 

Bajaj Consumer Care Ltd.

     1,947        3,600  

Colgate-Palmolive India Ltd.

     56,841        1,042,549  

Dabur India Ltd.

     194,076        1,286,795  

Emami Ltd.

     1,986        8,665  

Godrej Consumer Products Ltd.*

     172,021        2,026,491  

Hindustan Unilever Ltd.

     211,602        6,592,342  
     

 

 

 
Total Personal Care Products

 

     10,960,442  
Pharmaceuticals – 3.1%

 

Aarti Drugs Ltd.

     198,415        815,437  

Aarti Pharmalabs Ltd.

     21,013        70,530  

Ajanta Pharma Ltd.

     21,652        318,473  

Alembic Pharmaceuticals Ltd.

     75,852        458,116  

Alkem Laboratories Ltd.

     17,114        707,217  

AMI Organics Ltd.

     1,622        17,560  

Aurobindo Pharma Ltd.

     383,885        2,420,112  

Caplin Point Laboratories Ltd.

     434        3,147  

Cipla Ltd.

     267,828        2,934,677  

Dr. Reddy’s Laboratories Ltd.

     61,937        3,483,944  

Eris Lifesciences Ltd.(a)

     11,135        77,514  

FDC Ltd.*

     10        31  

Gland Pharma Ltd.*(a)

     478        7,377  

GlaxoSmithKline Pharmaceuticals Ltd.

     2,182        35,173  

Glenmark Pharmaceuticals Ltd.

     271,403        1,534,645  

Granules India Ltd.

     164,693        582,560  

Indoco Remedies Ltd.

     1,430        5,659  

IOL Chemicals & Pharmaceuticals Ltd.

     71,965        247,684  

Ipca Laboratories Ltd.

     54,707        539,431  

JB Chemicals & Pharmaceuticals Ltd.

     13,628        327,730  

Jubilant Pharmova Ltd.

     2,426        8,232  

Laurus Labs Ltd.(a)

     1,059        3,775  

Marksans Pharma Ltd.

     4,842        4,148  

Natco Pharma Ltd.

     2,193        15,033  

Neuland Laboratories Ltd.

     10,414        228,606  

Sequent Scientific Ltd.*

     708,834        626,184  

Shilpa Medicare Ltd.

     89        248  

Sun Pharmaceutical Industries Ltd.

     384,940        4,604,807  

Suven Pharmaceuticals Ltd.

     119,938        689,426  

Torrent Pharmaceuticals Ltd.

     38,632        722,577  

Zydus Lifesciences Ltd.

     516,931        3,091,868  
     

 

 

 
Total Pharmaceuticals

 

     24,581,921  
Professional Services – 0.3%

 

Computer Age Management Services Ltd.

     12,021        297,071  

Datamatics Global Services Ltd.

     1,972        6,820  

eClerx Services Ltd.

     23,245        364,985  

Firstsource Solutions Ltd.

     564,242        724,333  

L&T Technology Services Ltd.(a)

     15,590        640,910  

Vakrangee Ltd.

     5,738      1,117  
     

 

 

 
Total Professional Services

 

     2,035,236  
Real Estate Management & Development – 0.5%

 

DLF Ltd.

     324,396        1,407,989  

Macrotech Developers Ltd.*(a)

     109        1,234  

Oberoi Realty Ltd.

     92,779        951,244  

Phoenix Mills Ltd.

     26,151        413,971  

Prestige Estates Projects Ltd.

     115,653        567,411  

Sobha Ltd.

     45,315        237,430  
     

 

 

 
Total Real Estate Management & Development

 

     3,579,279  
Semiconductors & Semiconductor Equipment – 0.0%

 

Borosil Renewables Ltd.*

     43,246        216,197  

Software – 0.7%

 

Birlasoft Ltd.

     364,796        1,159,206  

Cyient Ltd.

     80,401        973,676  

Intellect Design Arena Ltd.

     3,244        16,208  

KPIT Technologies Ltd.

     42,593        479,455  

Newgen Software Technologies Ltd.

     55,624        305,050  

Oracle Financial Services Software Ltd.

     39,082        1,552,081  

Route Mobile Ltd.

     1,495        24,847  

Tanla Platforms Ltd.

     46,547        296,361  

Tata Elxsi Ltd.

     10,867        787,972  
     

 

 

 
Total Software

 

     5,594,856  
Textiles, Apparel & Luxury Goods – 0.9%

 

Dollar Industries Ltd.

     194        821  

Filatex India Ltd.

     349        136  

Gokaldas Exports Ltd.*

     23,809        103,136  

Indo Count Industries Ltd.

     2,842        3,875  

Kalyan Jewellers India Ltd.*

     20,300        26,023  

KPR Mill Ltd.

     54,981        386,755  

LUX Industries Ltd.*

     56,228        794,441  

Page Industries Ltd.

     595        274,419  

Rajesh Exports Ltd.

     117,913        875,353  

Raymond Ltd.

     9,772        145,309  

Relaxo Footwears Ltd.

     111,780        1,157,414  

Rupa & Co. Ltd.

     1,285        3,194  

Siyaram Silk Mills Ltd.

     14,761        74,755  

Titan Co. Ltd.

     77,484        2,371,119  

Trident Ltd.

     469,794        159,776  

Vaibhav Global Ltd.

     37        123  

Vardhman Textiles Ltd.

     21,230        75,871  

Welspun India Ltd.

     408,587        316,449  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     6,768,969  
Tobacco – 1.3%

 

Godfrey Phillips India Ltd.

     9,089        201,256  

ITC Ltd.

     2,193,689        10,236,726  
     

 

 

 
Total Tobacco

 

     10,437,982  
Trading Companies & Distributors – 0.1%

 

Adani Enterprises Ltd.

     54,394        1,158,568  
Transportation Infrastructure – 0.5%

 

Adani Ports & Special Economic Zone Ltd.

     515,524        3,963,856  

 

See Notes to Financial Statements.

 

76   WisdomTree Trust


Schedule of Investments (concluded)

WisdomTree India Earnings Fund (EPI) (consolidated)

March 31, 2023

 

 

 

Investments    Shares     Value  
Wireless Telecommunication Services – 0.2%

 

Bharti Airtel Ltd.

     202,634     $ 1,846,778  

TOTAL COMMON STOCKS

(Cost: $521,563,241)

 

 

    800,955,718  
      Principal
Amount
        
CORPORATE BONDS – 0.0%

 

India – 0.0%

 

Britannia Industries Ltd.
5.50%, 6/3/24, Series N3

(Cost: $11,593)

     843,639  INR      10,010  
      Shares         
EXCHANGE-TRADED FUND – 0.0%

 

United States – 0.0%

 

WisdomTree India ex-State-Owned Enterprises Fund(b)
(Cost: $26,901)
     1,100     $ 32,913  

 

Investments          Value  

TOTAL INVESTMENTS IN SECURITIES – 101.9%

(Cost: $521,601,735)

   $ 800,998,641  

Other Assets less Liabilities – (1.9)%

        (14,764,741
     

 

 

 
NET ASSETS – 100.0%    $ 786,233,900  
* 

Non-income producing security.

 

This security is being fair valued using significant unobservable inputs (i.e., Level 3 on the fair value hierarchy) by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust. The aggregate value of Level 3 fair valued securities is $67,477, which represents 0.01% of net assets.

 

(a) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(b) 

Affiliated holding. See “Investment in Affiliates” supplementary table included in this Schedule of Investments for additional information.

 

INVESTMENT IN AFFILIATES

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Investments in affiliates during the fiscal year ended March 31, 2023 were as follows:

 

Affiliate   Value at
3/31/2022
    Purchases/
Additions
    Sales/
Reductions
    Realized
Gain/
(Loss)
    Change in
Unrealized
Appreciation/
Depreciation
    Value at
3/31/2023
    Dividend
Income
 

WisdomTree India ex-State-Owned Enterprises Fund

  $ 38,156     $     $     $     $ (5,243   $ 32,913     $ 682  

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2 – Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

     

Investments in Securities

  

Common Stocks

           

Industrial Conglomerates

   $ 3,061,112      $      $ 67,477 *     $ 3,128,589  

Marine Transportation

     591,250        168,342               759,592  

Other

     797,067,537                      797,067,537  

Corporate Bonds

            10,010               10,010  

Exchange-Traded Fund

     32,913                      32,913  

Total Investments in Securities

   $ 800,752,812      $ 178,352      $ 67,477      $ 800,998,641  
* 

Fair valuations using significant unobservable inputs were determined by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust.

 

See Notes to Financial Statements.

 

WisdomTree Trust      77  


Schedule of Investments

WisdomTree India ex-State-Owned Enterprises Fund (IXSE)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 101.6%

 

India – 101.6%

 

Automobile Components – 2.7%

 

Apollo Tyres Ltd.

     2,666      $ 10,377  

Balkrishna Industries Ltd.

     647        15,363  

Bharat Forge Ltd.

     1,918        17,981  

Bosch Ltd.

     73        17,206  

Motherson Sumi Wiring India Ltd.

     15,084        8,856  

MRF Ltd.

     20        20,454  

Samvardhana Motherson International Ltd.

     14,604        11,924  

Sona Blw Precision Forgings Ltd.(a)

     2,559        12,876  

Sundram Fasteners Ltd.

     833        9,913  

Tube Investments of India Ltd.

     832        25,781  

UNO Minda Ltd.

     1,560        9,130  
     

 

 

 
Total Automobile Components

 

     159,861  
Automobiles – 7.2%

 

Bajaj Auto Ltd.

     580        27,417  

Eicher Motors Ltd.

     1,229        44,099  

Hero MotoCorp Ltd.

     1,065        30,419  

Mahindra & Mahindra Ltd.

     8,165        115,119  

Maruti Suzuki India Ltd.

     1,100        110,989  

Tata Motors Ltd.*

     14,919        76,390  

TVS Motor Co. Ltd.

     1,866        24,458  
     

 

 

 
Total Automobiles

 

     428,891  
Banks – 15.6%

 

AU Small Finance Bank Ltd.(a)

     2,875        20,262  

Axis Bank Ltd.

     21,050        219,894  

Bandhan Bank Ltd.*(a)

     6,477        15,428  

Federal Bank Ltd.

     12,012        19,337  

ICICI Bank Ltd.

     41,696        445,080  

IDFC First Bank Ltd.*

     22,445        15,035  

Kotak Mahindra Bank Ltd.

     9,002        189,811  
     

 

 

 
Total Banks

 

     924,847  
Beverages – 1.3%

 

Radico Khaitan Ltd.

     666        9,681  

United Breweries Ltd.

     609        10,556  

United Spirits Ltd.*

     2,616        24,074  

Varun Beverages Ltd.

     1,917        32,353  
     

 

 

 
Total Beverages

 

     76,664  
Biotechnology – 0.2%

 

Biocon Ltd.

     3,739        9,388  
Building Products – 0.5%

 

Astral Ltd.

     1,239        20,152  

Kajaria Ceramics Ltd.

     718        9,211  
     

 

 

 
Total Building Products

 

     29,363  
Capital Markets – 0.4%

 

HDFC Asset Management Co. Ltd.(a)

     543        11,284  

IDFC Ltd.

     9,782        9,350  
     

 

 

 
Total Capital Markets

 

     20,634  
Chemicals – 5.5%

 

Aarti Industries Ltd.

     1,719      10,838  

Asian Paints Ltd.

     3,868        129,980  

Atul Ltd.

     145        12,278  

Berger Paints India Ltd.

     2,039        14,432  

Carborundum Universal Ltd.

     874        10,483  

Coromandel International Ltd.

     1,015        10,859  

Deepak Nitrite Ltd.

     555        12,444  

Gujarat Fluorochemicals Ltd.

     300        11,025  

Navin Fluorine International Ltd.

     279        14,498  

PI Industries Ltd.

     685        25,257  

Solar Industries India Ltd.

     195        8,999  

SRF Ltd.

     1,197        35,129  

Supreme Industries Ltd.

     593        18,137  

Tata Chemicals Ltd.

     1,214        14,365  
     

 

 

 
Total Chemicals

 

     328,724  
Construction & Engineering – 0.3%

 

Voltas Ltd.

     1,999        19,903  
Construction Materials – 4.4%

 

ACC Ltd.

     746        15,134  

Ambuja Cements Ltd.*

     6,245        27,778  

Dalmia Bharat Ltd.

     726        17,387  

Grasim Industries Ltd.

     3,140        62,381  

JK Cement Ltd.

     286        10,175  

Ramco Cements Ltd.

     1,163        10,708  

Shree Cement Ltd.

     85        27,085  

UltraTech Cement Ltd.

     978        90,706  
     

 

 

 
Total Construction Materials

 

     261,354  
Consumer Staples Distribution & Retail – 0.9%

 

Avenue Supermarts Ltd.*(a)

     1,221        50,530  
Diversified Telecommunication Services – 0.2%

 

Indus Towers Ltd.

     6,320        10,997  
Electrical Equipment – 1.3%

 

ABB India Ltd.

     411        16,830  

CG Power & Industrial Solutions Ltd.

     4,868        17,773  

Havells India Ltd.

     2,214        32,018  

Polycab India Ltd.

     359        12,581  
     

 

 

 
Total Electrical Equipment

 

     79,202  
Electronic Equipment, Instruments & Components – 0.3%

 

Honeywell Automation India Ltd.

     20        8,855  

Redington Ltd.

     4,849        9,833  
     

 

 

 
Total Electronic Equipment, Instruments & Components

 

     18,688  
Entertainment – 0.1%

 

PVR Ltd.*

     429        8,008  
Financial Services – 0.8%

 

Bajaj Finserv Ltd.

     3,131        48,251  
Food Products – 3.5%

 

Britannia Industries Ltd.

     1,017        53,486  

Marico Ltd.

     4,610        26,914  

Nestle India Ltd.

     305        73,128  

 

See Notes to Financial Statements.

 

78   WisdomTree Trust


Schedule of Investments (continued)

WisdomTree India ex-State-Owned Enterprises Fund (IXSE)

March 31, 2023

 

 

 

Investments    Shares      Value  

Patanjali Foods Ltd.

     609      $ 7,182  

Tata Consumer Products Ltd.

     5,435        46,879  
     

 

 

 
Total Food Products

 

     207,589  
Gas Utilities – 0.6%

 

Adani Total Gas Ltd.

     2,288        24,159  

Gujarat Gas Ltd.

     1,645        9,199  
     

 

 

 
Total Gas Utilities

 

     33,358  
Health Care Providers & Services – 1.6%

 

Apollo Hospitals Enterprise Ltd.

     868        45,531  

Dr. Lal PathLabs Ltd.(a)

     267        5,939  

Fortis Healthcare Ltd.*

     4,295        13,583  

Max Healthcare Institute Ltd.*

     6,068        32,569  
     

 

 

 
Total Health Care Providers & Services

 

     97,622  
Hotels, Restaurants & Leisure – 1.2%

 

Indian Hotels Co. Ltd.

     7,370        29,087  

Jubilant Foodworks Ltd.

     2,938        15,734  

Zomato Ltd.*

     40,186        24,938  
     

 

 

 
Total Hotels, Restaurants & Leisure

 

     69,759  
Household Durables – 0.5%

 

Crompton Greaves Consumer Electricals Ltd.

     5,012        17,869  

Dixon Technologies India Ltd.

     290        10,097  
     

 

 

 
Total Household Durables

 

     27,966  
Independent Power & Renewable Electricity Producers – 0.5%

 

Adani Green Energy Ltd.*

     2,954        31,672  
Industrial Conglomerates – 0.5%

 

Siemens Ltd.

     744        30,121  
Insurance – 1.8%

 

HDFC Life Insurance Co. Ltd.(a)

     7,799        47,373  

ICICI Lombard General Insurance Co. Ltd.(a)

     2,023        26,327  

ICICI Prudential Life Insurance Co. Ltd.(a)

     3,490        18,503  

Max Financial Services Ltd.*

     1,916        14,804  
     

 

 

 
Total Insurance

 

     107,007  
Interactive Media & Services – 0.4%

 

Info Edge India Ltd.

     555        25,146  
IT Services – 13.5%

 

Coforge Ltd.

     299        13,877  

HCL Technologies Ltd.

     8,717        115,111  

Infosys Ltd.

     29,707        516,169  

Mphasis Ltd.

     669        14,618  

Persistent Systems Ltd.

     391        21,931  

Tech Mahindra Ltd.

     5,312        71,220  

Wipro Ltd.

     11,484        51,039  
     

 

 

 
Total IT Services

 

     803,965  
Life Sciences Tools & Services – 0.6%

 

Divi’s Laboratories Ltd.

     1,075        36,931  
Machinery – 1.6%

 

Ashok Leyland Ltd.

     12,286        20,810  

Cummins India Ltd.

     1,117        22,149  

Elgi Equipments Ltd.

     1,795        9,570  

Grindwell Norton Ltd.

     394      9,005  

Schaeffler India Ltd.

     318        11,096  

SKF India Ltd.

     192        9,943  

Thermax Ltd.

     333        9,290  
     

 

 

 
Total Machinery

 

     91,863  
Media – 0.3%

 

Zee Entertainment Enterprises Ltd.

     7,609        19,652  
Metals & Mining – 3.3%

 

APL Apollo Tubes Ltd.

     1,394        20,446  

JSW Steel Ltd.

     7,577        63,441  

Tata Steel Ltd.

     64,930        82,562  

Vedanta Ltd.

     8,640        28,853  
     

 

 

 
Total Metals & Mining

 

     195,302  
Oil, Gas & Consumable Fuels – 10.6%

 

Reliance Industries Ltd.

     22,301        632,552  
Passenger Airlines – 0.3%

 

InterGlobe Aviation Ltd.*(a)

     855        19,878  
Personal Care Products – 5.9%

 

Colgate-Palmolive India Ltd.

     1,149        21,074  

Dabur India Ltd.

     5,412        35,884  

Emami Ltd.

     1,820        7,940  

Godrej Consumer Products Ltd.*

     3,460        40,760  

Hindustan Unilever Ltd.

     7,877        245,404  
     

 

 

 
Total Personal Care Products

 

     351,062  
Pharmaceuticals – 5.2%

 

Aarti Pharmalabs Ltd.

     508        1,705  

Alkem Laboratories Ltd.

     355        14,670  

Aurobindo Pharma Ltd.

     2,237        14,103  

Cipla Ltd.

     4,592        50,316  

Dr. Reddy’s Laboratories Ltd.

     1,038        58,387  

Ipca Laboratories Ltd.

     1,116        11,004  

Laurus Labs Ltd.(a)

     2,712        9,667  

Lupin Ltd.

     2,010        15,858  

Sun Pharmaceutical Industries Ltd.

     8,887        106,310  

Torrent Pharmaceuticals Ltd.

     816        15,263  

Zydus Lifesciences Ltd.

     1,980        11,843  
     

 

 

 
Total Pharmaceuticals

 

     309,126  
Professional Services – 0.1%

 

Computer Age Management Services Ltd.

     281        6,944  
Real Estate Management & Development – 1.2%

 

DLF Ltd.

     5,218        22,648  

Godrej Properties Ltd.*

     1,006        12,621  

Macrotech Developers Ltd.*(a)

     971        10,992  

Oberoi Realty Ltd.

     1,042        10,683  

Phoenix Mills Ltd.

     788        12,474  
     

 

 

 
Total Real Estate Management & Development

 

     69,418  
Software – 0.6%

 

KPIT Technologies Ltd.

     1,321        14,870  

Tata Elxsi Ltd.

     293        21,246  
     

 

 

 
Total Software

 

     36,116  

 

See Notes to Financial Statements.

 

WisdomTree Trust      79  


Schedule of Investments (concluded)

WisdomTree India ex-State-Owned Enterprises Fund (IXSE)

March 31, 2023

 

 

 

Investments    Shares      Value  
Specialty Retail – 0.4%

 

Trent Ltd.

     1,477      $ 24,711  
Textiles, Apparel & Luxury Goods – 2.4%

 

Aditya Birla Fashion & Retail Ltd.*

     3,122        8,143  

Bata India Ltd.

     538        9,285  

Page Industries Ltd.

     49        22,599  

Titan Co. Ltd.

     3,373        103,219  
     

 

 

 
Total Textiles, Apparel & Luxury Goods

 

     143,246  
Transportation Infrastructure – 0.2%

 

GMR Airports Infrastructure Ltd.*

     20,660        10,194  
Wireless Telecommunication Services – 3.1%

 

Bharti Airtel Ltd.

     20,119        183,362  

TOTAL COMMON STOCKS

(Cost: $5,275,148)

 

 

     6,039,867  
      Principal
Amount
    Value  
CORPORATE BONDS – 0.0%     
India – 0.0%     

Britannia Industries Ltd.
5.50%, 6/3/24, Series N3

    
(Cost: $328)      23,867  INR    283  

TOTAL INVESTMENTS IN SECURITIES – 101.6%

(Cost: $5,275,476)

 

 

    6,040,150  

Other Assets less Liabilities – (1.6)%

       (92,207
    

 

 

 
NET ASSETS – 100.0%            $ 5,947,943  

 

* 

Non-income producing security.

 

(a) 

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2—Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

           

Investments in Securities

           

Common Stocks

   $ 6,039,867      $      $      $ 6,039,867  

Corporate Bonds

            283               283  

Total Investments in Securities

   $ 6,039,867      $ 283      $      $ 6,040,150  

 

See Notes to Financial Statements.

 

80   WisdomTree Trust


Schedule of Investments

WisdomTree New Economy Real Estate Fund (WTRE)

March 31, 2023

 

 

 

Investments    Shares      Value  
COMMON STOCKS – 99.4%

 

Australia – 6.2%

 

Dexus(a)

     61,026      $ 306,950  

Goodman Group

     86,161        1,084,302  

NEXTDC Ltd.*(a)

     27,421        192,100  
     

 

 

 
Total Australia

 

     1,583,352  
Belgium – 1.3%      

Warehouses De Pauw CVA

     11,398        338,313  
Canada – 2.7%      

Allied Properties Real Estate Investment Trust

     8,729        157,120  

Dream Industrial Real Estate Investment Trust

     20,296        220,454  

Granite Real Estate Investment Trust

     5,055        312,597  
     

 

 

 
Total Canada

 

     690,171  
China – 5.9%      

China Aoyuan Group Ltd.*(a)

     234,000        17,766  

China Tower Corp. Ltd., Class H(b)

     10,440,000        1,263,447  

ESR Group Ltd.(b)

     136,400        244,653  
     

 

 

 
Total China

 

     1,525,866  
Italy – 1.3%      

Infrastrutture Wireless Italiane SpA(b)

     24,825        326,890  
Japan – 4.7%      

Activia Properties, Inc.

     41        116,447  

GLP J-REIT(a)

     362        389,227  

Japan Logistics Fund, Inc.

     54        119,491  

Mitsubishi Estate Logistics REIT Investment Corp.

     38        111,496  

Mitsui Fudosan Logistics Park, Inc.

     31        108,310  

Nippon Prologis REIT, Inc.

     168        353,824  
     

 

 

 
Total Japan

 

     1,198,795  
Singapore – 5.6%      

CapitaLand Ascendas REIT

     211,936        455,896  

Frasers Logistics & Commercial Trust

     185,800        183,068  

Keppel DC REIT

     98,500        152,616  

Keppel REIT

     115,800        77,081  

Mapletree Industrial Trust

     157,209        280,234  

Mapletree Logistics Trust(a)

     233,858        300,776  
     

 

 

 
Total Singapore

 

     1,449,671  
Spain – 4.6%      

Cellnex Telecom SA(a)(b)

     30,228        1,174,402  
Sweden – 0.6%      

Fabege AB(a)

     18,458        141,725  
United Kingdom – 5.4%      

Derwent London PLC

     8,155        237,763  

Segro PLC

     96,663        917,428  

Tritax Big Box REIT PLC

     134,198      $ 232,135  
     

 

 

 
Total United Kingdom

 

     1,387,326  
United States – 61.1%      

Airbnb, Inc., Class A*

     9,025      1,122,710  

Alexandria Real Estate Equities, Inc.

     7,526        945,190  

American Tower Corp.

     5,599        1,144,100  

Americold Realty Trust, Inc.

     21,410        609,115  

Corporate Office Properties Trust

     8,157        193,403  

Cousins Properties, Inc.

     11,763        251,493  

Crown Castle, Inc.

     8,635        1,155,708  

Digital Realty Trust, Inc.

     13,090        1,286,878  

DigitalBridge Group, Inc.(a)

     12,322        147,741  

Douglas Emmett, Inc.

     11,915        146,912  

EastGroup Properties, Inc.

     2,453        405,530  

Equinix, Inc.

     1,611        1,161,595  

Healthpeak Properties, Inc.

     31,414        690,166  

Iron Mountain, Inc.

     20,642        1,092,168  

JBG SMITH Properties

     6,356        95,721  

Kilroy Realty Corp.

     8,235        266,814  

LXP Industrial Trust

     22,733        234,377  

Prologis, Inc.

     8,933        1,114,570  

Radius Global Infrastructure, Inc., Class A*

     5,334        78,250  

Rexford Industrial Realty, Inc.

     15,614        931,375  

SBA Communications Corp.

     4,625        1,207,449  

Terreno Realty Corp.

     6,358        410,727  

Ventas, Inc.

     22,775        987,296  
     

 

 

 
Total United States               15,679,288  

TOTAL COMMON STOCKS

(Cost: $30,759,691)

              25,495,799  
INVESTMENT OF CASH COLLATERAL FOR SECURITIES LOANED – 3.5%

 

United States – 3.5%

 

State Street Navigator Securities Lending Government Money Market Portfolio, 4.84%(c)

     
(Cost: $911,318)      911,318        911,318  

TOTAL INVESTMENTS IN SECURITIES – 102.9%

(Cost: $31,671,009)

 

 

     26,407,117  

Other Assets less Liabilities – (2.9)%

 

     (745,647
     

 

 

 
NET ASSETS – 100.0%             $ 25,661,470  
* 

Non-income producing security.

 

 

This security is being fair valued using significant unobservable inputs (i.e., Level 3 on the fair value hierarchy) by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust. The aggregate value of Level 3 fair valued securities is $17,766, which represents 0.07% of net assets.

 

(a)

Security, or portion thereof, was on loan at March 31, 2023 (See Note 2). At March 31, 2023, the total market value of the Fund’s securities on loan identified in the Schedule of Investments was $1,865,404 and the total market value of the collateral held by the Fund was $1,969,456. The total market value of the collateral includes non-cash U.S. Government securities collateral having a value of $1,058,138.

 

(b)

This security is exempt from registration under rule 144A of the Securities Act of 1933. This security may be sold in transactions that are exempt from registration, normally to qualified institutional buyers.

 

(c)

Rate shown represents annualized 7-day yield as of March 31, 2023.

 

See Notes to Financial Statements.

 

WisdomTree Trust      81  


Schedule of Investments (concluded)

WisdomTree New Economy Real Estate Fund (WTRE)

March 31, 2023

 

 

 

FINANCIAL DERIVATIVE INSTRUMENTS  
FOREIGN CURRENCY CONTRACTS (OTC – OVER THE COUNTER)  
Counterparty   Settlement
Date
     Amount and
Description of
Currency to
be Purchased
    

Amount and
Description of
Currency to

be Sold

    Unrealized
Appreciation
    Unrealized
Depreciation
 

Citibank NA

    4/3/2023        2,772       EUR        3,026       USD     $     $ (14

Deutsche Bank AG

    4/3/2023        1,936       EUR        1,708       GBP             (8

Royal Bank of Canada

    4/3/2023        4,085       AUD        3,634       SGD       2        

Royal Bank of Canada

    4/3/2023        22,834       HKD        3,864       SGD       2        

Standard Chartered Bank

    4/3/2023        577,123       JPY        4,343       USD             (7
                                              $ 4     $ (29

 

FAIR VALUATION SUMMARY

The following is a summary of the fair valuations according to the inputs used as of March 31, 2023 in valuing the Fund’s investments (See Note 2—Fair Value Measurement):

 

      Quoted
Prices in
Active
Markets
(Level 1)
     Other
Significant
Observable
Inputs
(Level 2)
     Significant
Unobservable
Inputs
(Level 3)
     Total  

Assets:

 

     

Investments in Securities

  

Common Stocks

           

China

   $ 1,508,100      $      $ 17,766 *     $ 1,525,866  

Other

     23,969,933                      23,969,933  

Investment of Cash Collateral for Securities Loaned

            911,318               911,318  

Total Investments in Securities

   $ 25,478,033      $ 911,318      $ 17,766      $ 26,407,117  

Financial Derivative Instruments

           

Foreign Currency Contracts 1

   $      $ 4      $      $ 4  

Liabilities:

           

Financial Derivative Instruments

           

Foreign Currency Contracts 1

   $      $ (29    $      $ (29

Total – Net

   $ 25,478,033      $ 911,293      $ 17,766      $ 26,407,092  
* 

Fair valuations using significant unobservable inputs were determined by WisdomTree Asset Management, Inc., as valuation designee, in accordance with valuation procedures approved by the Board of Trustees of WisdomTree Trust.

 

1 

Amount shown represents the unrealized appreciation (depreciation) on the financial instrument.

 

See Notes to Financial Statements.

 

82   WisdomTree Trust


Statements of Assets and Liabilities

WisdomTree Trust

March 31, 2023

 

 

 

     

WisdomTree

China
ex-State-Owned

Enterprises

Fund

    

WisdomTree

Emerging Markets
ex-State-Owned

Enterprises

Fund

    

WisdomTree

Emerging Markets
High Dividend Fund

    

WisdomTree
Emerging

Markets
Multifactor

Fund

    

WisdomTree
Emerging

Markets
Quality

Dividend

Growth Fund

 

ASSETS:

              

Investments, at cost

   $ 894,900,755      $ 2,314,936,845      $ 2,133,289,847      $ 2,186,238      $ 81,738,221  

Investment in affiliates, at cost (Note 3)

                   2,338,438                

Foreign currency, at cost

     97,211        1,324,802        2,020,255        2,652        43,551  

Investments in securities, at value1,2 (Note 2)

     747,128,466        2,210,607,530        2,150,539,317        2,211,386        89,569,028  

Investment in affiliates, at value (Note 3)

                   2,263,456                

Cash

     809,048        45,672        24,614,908        585        4,156  

Foreign currency, at value

     10,213        1,246,881        2,024,743        2,536        43,806  

Unrealized appreciation on foreign currency contracts

     3               40        926         

Receivables:

 

Investment securities sold

     1,204,376                              

Capital shares sold

     1,510               20,239                

Dividends

     77,885        6,019,773        6,429,413        9,802        279,123  

Securities lending income

     45,180        130,114        188,387        15        2,356  

Interest

            1,707               5        85  

Foreign tax reclaims

            50,840        75,672        275        1,448  

Foreign capital gains tax refund

                   1,064,165        1,254         

Other (Note 6)

                   28,807                

Total Assets

     749,276,681        2,218,102,517        2,187,249,147        2,226,784        89,900,002  

LIABILITIES:

              

Unrealized depreciation on foreign currency contracts

                          15,800        152  

Payables:

              

Cash collateral received for securities loaned (Note 2)

     9,349,973        44,021,109        20,017,278        54,941        1,969,247  

Deposit due to authorized participant (Note 4)

                   19,538,899                

Investment securities purchased

                   248,722                

Capital shares redeemed

     1,734,377                              

Advisory fees (Note 3)

     201,247        573,798        1,110,039        867        23,387  

Service fees (Note 2)

     2,767        7,890        7,757        8        322  

Foreign capital gains tax

            2,972,915        478,219               226,087  

Other (Note 6)

                   8,642                

Total Liabilities

     11,288,364        47,575,712        41,409,556        71,616        2,219,195  

NET ASSETS

   $ 737,988,317      $ 2,170,526,805      $ 2,145,839,591      $ 2,155,168      $ 87,680,807  

NET ASSETS:

              

Paid-in capital

   $ 1,322,584,449      $ 2,992,231,332      $ 3,751,131,798      $ 3,392,708      $ 107,380,113  

Total distributable earnings (loss)

     (584,596,132      (821,704,527      (1,605,292,207      (1,237,540      (19,699,306

NET ASSETS

   $ 737,988,317      $ 2,170,526,805      $ 2,145,839,591      $ 2,155,168      $ 87,680,807  

Outstanding beneficial interest shares of $0.001 par value (unlimited number of shares authorized)

     21,125,000        78,100,000        56,800,000        100,000        3,900,000  

Net asset value per share

   $ 34.93      $ 27.79      $ 37.78      $ 21.55      $ 22.48  

1 Includes market value of securities out on loan of:

   $ 29,912,968      $ 140,454,471      $ 252,846,236      $ 83,155      $ 2,839,145  

2 Investments in securities include investment of cash collateral for securities loaned (see Schedule of Investments for additional information).

  

  

 

See Notes to Financial Statements.

 

WisdomTree Trust      83  


Statements of Assets and Liabilities (continued)

WisdomTree Trust

March 31, 2023

 

 

 

     

WisdomTree
Emerging Markets

SmallCap Dividend
Fund

    

WisdomTree
Global ex-U.S.
Quality Dividend

Growth Fund

     WisdomTree
Global High
Dividend Fund
     WisdomTree
Growth
Leaders Fund
     WisdomTree
India Earnings
Fund

(consolidated)
 

ASSETS:

              

Investments, at cost

   $ 2,476,727,754      $ 496,189,741      $ 132,475,375      $ 14,205,979      $ 521,574,834  

Investment in affiliates, at cost (Note 3)

     2,660,281        2,162,086        185,387               26,901  

Foreign currency, at cost

     4,608,164        1,235,803        34,903        457        1,940,827  

Investments in securities, at value1,2 (Note 2)

     2,758,641,005        540,806,381        141,576,782        10,427,630        800,965,728  

Investment in affiliates, at value (Note 3)

     3,102,173        2,572,256        201,870               32,913  

Cash

     664,942        1,291,493        63,254        5,262        2,299,793  

Foreign currency, at value

     4,621,481        1,237,906        35,014        457        1,943,747  

Unrealized appreciation on foreign currency contracts

            2,183                       

Receivables:

 

Capital shares sold

            5,089,161                       

Dividends

     14,417,223        893,695        602,925               234,606  

Securities lending income

     928,703        16,309        7,894        945         

Interest

                                 442  

Foreign tax reclaims

     71,237        1,007,717        78,518                

Foreign capital gains tax refund

     326,166                             1,402  

Other (Note 6)

            33,270        852                

Total Assets

     2,782,772,930        552,950,371        142,567,109        10,434,294        805,478,631  

LIABILITIES:

              

Unrealized depreciation on foreign currency contracts

            9                       

Payables:

              

Cash collateral received for securities loaned (Note 2)

     92,666,436        18,782,688        6,584,909        46,490         

Investment securities purchased

     168,532        6,984,137                       

Advisory fees (Note 3)

     1,296,249        175,044        66,312        1,664        537,150  

Service fees (Note 2)

     9,840        1,840        503        37        2,848  

Foreign capital gains tax

     192,495               7,567               18,704,733  

Other (Note 6)

            9,981        256                

Total Liabilities

     94,333,552        25,953,699        6,659,547        48,191        19,244,731  

NET ASSETS

   $ 2,688,439,378      $ 526,996,672      $ 135,907,562      $ 10,386,103      $ 786,233,900  

NET ASSETS:

              

Paid-in capital

   $ 3,130,393,122      $ 588,232,938      $ 149,172,160      $ 15,863,471      $ 579,089,770  

Total distributable earnings (loss)

     (441,953,744      (61,236,266      (13,264,598      (5,477,368      207,144,130  

NET ASSETS

   $ 2,688,439,378      $ 526,996,672      $ 135,907,562      $ 10,386,103      $ 786,233,900  

Outstanding beneficial interest shares of $0.001 par value (unlimited number of shares authorized)

     58,800,000        14,900,000        2,900,000        355,000        25,000,000  

Net asset value per share

   $ 45.72      $ 35.37      $ 46.86      $ 29.26      $ 31.45  

1 Includes market value of securities out on loan of:

   $ 522,562,240      $ 27,629,610      $ 9,655,572      $ 268,834         

2 Investments in securities include investment of cash collateral for securities loaned (see Schedule of Investments for additional information).

  

  

 

See Notes to Financial Statements.

 

84   WisdomTree Trust


Statements of Assets and Liabilities (concluded)

WisdomTree Trust

March 31, 2023

 

 

 

     

WisdomTree
India
ex-State-Owned
Enterprises

Fund

    

WisdomTree

New Economy

Real Estate

Fund

 

ASSETS:

 

Investments, at cost

   $ 5,275,476      $ 31,671,009  

Foreign currency, at cost

     231        10,711  

Investments in securities, at value1,2 (Note 2)

     6,040,150        26,407,117  

Cash

     4,611        55,644  

Foreign currency, at value

     231        10,600  

Unrealized appreciation on foreign currency contracts

            4  

Receivables:

     

Dividends

            109,976  

Securities lending income

            383  

Interest

     12         

Foreign tax reclaims

            46,154  

Foreign capital gains tax refund

     5,718         

Other (Note 6)

            883  

Total Assets

     6,050,722        26,630,761  

LIABILITIES:

 

Unrealized depreciation on foreign currency contracts

            29  

Payables:

     

Cash collateral received for securities loaned (Note 2)

            911,318  

Investment securities purchased

            45,163  

Advisory fees (Note 3)

     2,905        12,421  

Service fees (Note 2)

     22        95  

Foreign capital gains tax

     99,852         

Other (Note 6)

            265  

Total Liabilities

     102,779        969,291  

NET ASSETS

   $ 5,947,943      $ 25,661,470  

NET ASSETS:

     

Paid-in capital

   $ 5,594,940      $ 75,031,820  

Total distributable earnings (loss)

     353,003        (49,370,350

NET ASSETS

   $ 5,947,943      $ 25,661,470  

Outstanding beneficial interest shares of $0.001 par value (unlimited number of shares authorized)

     200,000        1,500,000  

Net asset value per share

   $ 29.74      $ 17.11  

1 Includes market value of securities out on loan of:

          $ 1,865,404  
2 

Investments in securities include investment of cash collateral for securities loaned (see Schedule of Investments for additional information).

 

See Notes to Financial Statements.

 

WisdomTree Trust      85  


Statements of Operations

WisdomTree Trust

For the Year Ended March 31, 2023

 

 

 

     WisdomTree
China
ex-State-Owned
Enterprises
Fund
    WisdomTree
Emerging Markets
ex-State-Owned
Enterprises Fund
    WisdomTree
Emerging Markets
High Dividend Fund
    WisdomTree
Emerging
Markets
Multifactor
Fund
   

WisdomTree
Emerging
Markets

Quality
Dividend
Growth Fund

 

INVESTMENT INCOME:

 

Dividends

  $ 10,719,775     $ 62,269,451     $ 165,810,940     $ 115,720     $ 3,337,789  

Dividends from affiliates (Note 3)

                51,785              

Interest

          3,915             7        

Non-cash dividends

          325,145       350,147       139        

Other income (Note 6)

                33,038              

Securities lending income, net (Note 2)

    561,740       1,686,603       1,650,868       132       24,036  

Less: Foreign withholding taxes on dividends

    (616,573     (8,912,041     (16,554,861     (15,575     (370,446

Total investment income

    10,664,942       55,373,073       151,341,917       100,423       2,991,379  

EXPENSES:

         

Advisory fees (Note 3)

    2,601,308       7,730,994       11,670,938       10,264       243,235  

Service fees (Note 2)

    35,768       106,301       81,511       95       3,344  

Other fees (Note 6)

                8,642              

Total expenses

    2,637,076       7,837,295       11,761,091       10,359       246,579  

Expense waivers (Note 3)

                (4,030            

Net expenses

    2,637,076       7,837,295       11,757,061       10,359       246,579  

Net investment income

    8,027,866       47,535,778       139,584,856       90,064       2,744,800  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

         

Net realized gain (loss) from:

         

Investment transactions1

    (292,226,191     (452,718,909     (154,172,648     (209,917     (8,572,634

Investment transactions in affiliates (Note 3)

                (142,331            

In-kind redemptions

    12,806,328       16,192,703       747,268             417,900  

Futures contracts

          (230,010     (167,745           (4,971

Foreign currency contracts

    (1,674,715     3,817,448       164,358       67,531       10,000  

Foreign currency related transactions

    1,773,106       (5,923,369     (3,003,711     (1,231     (107,824

Net realized loss

    (279,321,472     (438,862,137     (156,574,809     (143,617     (8,257,529

Net increase (decrease) in unrealized appreciation/depreciation:

         

Investment transactions2

    128,663,799       (83,631,278     (150,380,632     (74,548     (3,409,079

Investment transactions in affiliates (Note 3)

                (101,459            

Foreign currency contracts

    673             40       (12,297     (152

Translation of assets and liabilities denominated in foreign currencies

    (96,989     17,422       (88,004     (152     13  

Net increase (decrease) in unrealized appreciation/depreciation

    128,567,483       (83,613,856     (150,570,055     (86,997     (3,409,218

Net realized and unrealized loss on investments

    (150,753,989     (522,475,993     (307,144,864     (230,614     (11,666,747

NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS

  $ (142,726,123   $ (474,940,215   $ (167,560,008   $ (140,550   $ (8,921,947

1 Net of foreign capital gains (tax) and capital gain tax refund, if applicable, of:

        $ (4,873,714   $ 22,073     $ 701     $ (100,309

2 Includes net increase (decrease) in accrued foreign capital gain taxes of:

        $ (8,521,675   $ 205,314     $ (3,240   $ (286,051

 

See Notes to Financial Statements.

 

86   WisdomTree Trust


Statements of Operations (continued)

WisdomTree Trust

For the Year Ended March 31, 2023

 

 

 

      WisdomTree
Emerging Markets
SmallCap Dividend
Fund
     WisdomTree
Global ex-U.S.
Quality Dividend
Growth Fund
     WisdomTree
Global High
Dividend Fund
     WisdomTree
Growth
Leaders Fund
     WisdomTree
India Earnings
Fund

(consolidated)
 

INVESTMENT INCOME:

              

Dividends

   $ 141,107,823      $ 17,742,850      $ 4,989,447      $ 29,848      $ 20,028,522  

Dividends from affiliates (Note 3)

     1,688,074        222,709        28,157               682  

Interest

                                 1,367  

Non-cash dividends

     1,570,949        3,995,743        128,790                

Other income (Note 6)

            36,813        1,004                

Securities lending income, net (Note 2)

     8,842,402        225,557        38,590        8,835         

Less: Foreign withholding taxes on dividends

     (19,341,369      (1,676,286      (242,266             (4,310,728

Total investment income

     133,867,879        20,547,386        4,943,722        38,683        15,719,843  

EXPENSES:

              

Advisory fees (Note 3)

     14,011,530        1,880,835        613,287        20,487        6,196,748  

Service fees (Note 2)

     106,294        19,703        4,653        451        32,850  

Interest expense (Note 7)

                                 122,039  

Other fees (Note 6)

            9,981        256                

Total expenses

     14,117,824        1,910,519        618,196        20,938        6,351,637  

Expense waivers (Note 3)

     (26,836      (3,688                    (150

Net expenses

     14,090,988        1,906,831        618,196        20,938        6,351,487  

Net investment income

     119,776,891        18,640,555        4,325,526        17,745        9,368,356  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

              

Net realized gain (loss) from:

              

Investment transactions1

     (306,760,621      (95,459,510      (4,467,127      (1,570,859      33,560,426  

Investment transactions in affiliates (Note 3)

     (4,630,473      (658,874      (82,069              

In-kind redemptions

            10,438,986        915        (434,827       

Futures contracts

     (225,780                           (71,515

Foreign currency contracts

     (2,626,899      267,655        (3,205      (4,858      (372,703

Foreign currency related transactions

     (366,658      (514,821      (25,140      4,557        (490,630

Net realized gain (loss)

     (314,610,431      (85,926,564      (4,576,626      (2,005,987      32,625,578  

Net increase (decrease) in unrealized appreciation/depreciation:

              

Investment transactions2

     (51,764,530      15,895,543        938,011        (1,440,849      (121,582,847

Investment transactions in affiliates (Note 3)

     140,393        396,936        16,196               (5,243

Foreign currency contracts

            3,568                       

Translation of assets and liabilities denominated in foreign currencies

     (26,193      10,696        1,900        (67      (10,223

Net increase (decrease) in unrealized appreciation/depreciation

     (51,650,330      16,306,743        956,107        (1,440,916      (121,598,313

Net realized and unrealized loss on investments

     (366,260,761      (69,619,821      (3,620,519      (3,446,903      (88,972,735

NET INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS

   $ (246,483,870    $ (50,979,266    $ 705,007      $ (3,429,158    $ (79,604,379

1 Net of foreign capital gains (tax) and capital gain tax refund, if applicable, of:

   $ (1,007,533    $ (239,780    $ (3,611           $ (8,470,599

2 Includes net increase (decrease) in accrued foreign capital gain taxes of:

   $ (1,417,144    $ (604,406    $ 7,212             $ (12,910,259

 

See Notes to Financial Statements.

 

WisdomTree Trust      87  


Statements of Operations (concluded)

WisdomTree Trust

For the Year Ended March 31, 2023

 

 

 

      WisdomTree
India
ex-State-Owned
Enterprises
Fund
    

WisdomTree

New Economy

Real Estate

Fund

 

INVESTMENT INCOME:

     

Dividends

   $ 75,172      $ 955,209  

Interest

     17         

Non-cash dividends

            10,230  

Other income (Note 6)

            1,022  

Securities lending income, net (Note 2)

            8,125  

Less: Foreign withholding taxes on dividends

     (15,740      (78,891

Total investment income

     59,449        895,695  

EXPENSES:

     

Advisory fees (Note 3)

     36,946        209,045  

Service fees (Note 2)

     280        1,586  

Other fees (Note 6)

            264  

Total expenses

     37,226        210,895  

Net investment income

     22,223        684,800  

NET REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS:

     

Net realized gain (loss) from:

     

Investment transactions1

     (113,269      (8,702,984

In-kind redemptions

            (656,781

Futures contracts

     11,322         

Foreign currency contracts

     (702      234,029  

Foreign currency related transactions

     (1,576      (259,157

Net realized loss

     (104,225      (9,384,893

Net increase (decrease) in unrealized appreciation/depreciation:

     

Investment transactions2

     (822,407      (4,613,654

Foreign currency contracts

            (79

Translation of assets and liabilities denominated in foreign currencies

            725  

Net decrease in unrealized appreciation/depreciation

     (822,407      (4,613,008

Net realized and unrealized loss on investments

     (926,632      (13,997,901

NET DECREASE IN NET ASSETS RESULTING FROM OPERATIONS

   $ (904,409    $ (13,313,101

1 Net of foreign capital gains (tax) and capital gain tax refund, if applicable, of:

   $ (11,123    $ (790

2 Includes net increase (decrease) in accrued foreign capital gain taxes of:

   $ (76,903    $ (347

 

See Notes to Financial Statements.

 

88   WisdomTree Trust


Statements of Changes in Net Assets

WisdomTree Trust

 

 

 

 

     WisdomTree China ex-State-Owned
Enterprises Fund
   

WisdomTree Emerging Markets

ex-State-Owned

Enterprises Fund

    WisdomTree Emerging Markets High
Dividend Fund
 
     For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

Net investment income

  $ 8,027,866     $ 11,106,857     $ 47,535,778     $ 69,570,311     $ 139,584,856     $ 121,539,001  

Net realized gain (loss) on investments, futures contracts, foreign currency contracts and foreign currency related transactions

    (279,321,472     (87,004,581     (438,862,137     (75,601,254     (156,574,809     160,658,095  

Net increase (decrease) in unrealized appreciation/depreciation on investments, foreign currency contracts and translation of assets and liabilities denominated in foreign currencies

    128,567,483       (383,920,005     (83,613,856     (719,116,750     (150,570,055     (183,094,360

Net increase from payment by affiliate

                      83,629              

Net increase (decrease) in net assets resulting from operations

    (142,726,123     (459,817,729     (474,940,215     (725,064,064     (167,560,008     99,102,736  

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

    (8,628,659     (10,485,930     (52,252,500     (62,418,244     (137,420,525     (121,113,777

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

    204,830,077       529,146,692       16,749,145       219,724,718       423,628,056       273,134,390  

Cost of shares redeemed

    (150,767,082     (138,255,251     (638,895,275     (832,312,478     (92,653,343     (47,979,758

Net increase (decrease) in net assets resulting from capital share transactions

    54,062,995       390,891,441       (622,146,130     (612,587,760     330,974,713       225,154,632  

Net Increase (Decrease) in Net Assets

    (97,291,787     (79,412,218     (1,149,338,845     (1,400,070,068     25,994,180       203,143,591  

NET ASSETS:

 

Beginning of year

  $ 835,280,104     $ 914,692,322     $ 3,319,865,650     $ 4,719,935,718     $ 2,119,845,411     $ 1,916,701,820  

End of year

  $ 737,988,317     $ 835,280,104     $ 2,170,526,805     $ 3,319,865,650     $ 2,145,839,591     $ 2,119,845,411  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

    20,425,000       14,200,000       100,300,000       117,100,000       48,200,000       43,300,000  

Shares created

    5,375,000       8,875,000       500,000       5,300,000       11,300,000       6,000,000  

Shares redeemed

    (4,675,000     (2,650,000     (22,700,000     (22,100,000     (2,700,000     (1,100,000

Shares outstanding, end of year

    21,125,000       20,425,000       78,100,000       100,300,000       56,800,000       48,200,000  

 

See Notes to Financial Statements.

 

WisdomTree Trust      89  


Statements of Changes in Net Assets (continued)

WisdomTree Trust

 

 

 

 

      WisdomTree Emerging Markets
Multifactor Fund
     WisdomTree Emerging Markets
Quality Dividend Growth Fund
     WisdomTree Emerging Markets SmallCap
Dividend Fund
 
      For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

Net investment income

   $ 90,064      $ 157,172      $ 2,744,800      $ 2,694,963      $ 119,776,891      $ 85,237,971  

Net realized gain (loss) on investments, futures contracts, foreign currency contracts and foreign currency related transactions

     (143,617      411,928        (8,257,529      1,538,462        (314,610,431      135,477,592  

Net decrease in unrealized appreciation/depreciation on investments, foreign currency contracts and translation of assets and liabilities denominated in foreign currencies

     (86,997      (668,717      (3,409,218      (12,236,312      (51,650,330      (23,627,110

Net increase (decrease) in net assets resulting from operations

     (140,550      (99,617      (8,921,947      (8,002,887      (246,483,870      197,088,453  

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

     (70,527      (134,000      (3,003,000      (2,582,002      (121,656,900      (91,424,730

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

                   19,747,562        2,859,531        480,988,272        534,715,596  

Cost of shares redeemed

            (2,561,737      (6,846,988                     

Net increase (decrease) in net assets resulting from capital share transactions

            (2,561,737      12,900,574        2,859,531        480,988,272        534,715,596  

Net Increase (Decrease) in Net Assets

     (211,077      (2,795,354      975,627        (7,725,358      112,847,502        640,379,319  

NET ASSETS:

 

Beginning of year

   $ 2,366,245      $ 5,161,599      $ 86,705,180      $ 94,430,538      $ 2,575,591,876      $ 1,935,212,557  

End of year

   $ 2,155,168      $ 2,366,245      $ 87,680,807      $ 86,705,180      $ 2,688,439,378      $ 2,575,591,876  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

     100,000        200,000        3,300,000        3,200,000        48,200,000        38,100,000  

Shares created

                   900,000        100,000        10,600,000        10,100,000  

Shares redeemed

            (100,000      (300,000                     

Shares outstanding, end of year

     100,000        100,000        3,900,000        3,300,000        58,800,000        48,200,000  

 

See Notes to Financial Statements.

 

90   WisdomTree Trust


Statements of Changes in Net Assets (continued)

WisdomTree Trust

 

 

 

 

      WisdomTree Global ex-U.S. Quality
Dividend Growth Fund
    

WisdomTree Global High

Dividend Fund

     WisdomTree
Growth Leaders Fund
 
      For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

        

Net investment income

   $ 18,640,555      $ 10,808,007      $ 4,325,526      $ 2,708,774      $ 17,745      $ 3,955  

Net realized gain (loss) on investments, foreign currency contracts and foreign currency related transactions

     (85,926,564      31,560,593        (4,576,626      6,299,464        (2,005,987      189,499  

Net increase (decrease) in unrealized appreciation/depreciation on investments, foreign currency contracts and translation of assets and liabilities denominated in foreign currencies

     16,306,743        (29,687,264      956,107        (1,056,457      (1,440,916      (3,284,795

Net increase (decrease) in net assets resulting from operations

     (50,979,266      12,681,336        705,007        7,951,781        (3,429,158      (3,091,341

DISTRIBUTIONS TO SHAREHOLDERS:

 

Distributable earnings

     (18,475,318      (9,420,001      (4,296,367      (2,682,732      (14,235      (5,287

CAPITAL SHARE TRANSACTIONS:

 

Net proceeds from sale of shares

     135,468,168        258,196,116        70,609,590        19,674,154        813,616        5,203,072  

Cost of shares redeemed

     (106,255,698      (49,348,920             (21,694,612      (2,340,593      (1,160,393

Net increase (decrease) in net assets resulting from capital share transactions

     29,212,470        208,847,196        70,609,590        (2,020,458      (1,526,977      4,042,679  

Net Increase (Decrease) in Net Assets

     (40,242,114      212,108,531        67,018,230        3,248,591        (4,970,370      946,051  

NET ASSETS:

 

Beginning of year

   $ 567,238,786      $ 355,130,255      $ 68,889,332      $ 65,640,741      $ 15,356,473      $ 14,410,422  

End of year

   $ 526,996,672      $ 567,238,786      $ 135,907,562      $ 68,889,332      $ 10,386,103      $ 15,356,473  

SHARES CREATED AND REDEEMED:

 

Shares outstanding, beginning of year

     14,200,000        9,200,000 1       1,350,000        1,400,000        415,000        325,004  

Shares created

     4,000,000        6,200,000 1       1,550,000        400,000        30,000        115,000  

Shares redeemed

     (3,300,000      (1,200,000 )1              (450,000      (90,000      (25,004

Shares outstanding, end of year

     14,900,000        14,200,000 1       2,900,000        1,350,000        355,000        415,000  
1 

Shares were adjusted to reflect a 2:1 stock split effective June 9, 2021.

 

See Notes to Financial Statements.

 

WisdomTree Trust      91  


Statements of Changes in Net Assets (concluded)

WisdomTree Trust

 

 

 

 

     WisdomTree India Earnings Fund
(consolidated)
    WisdomTree India ex-State-Owned
Enterprises Fund
    WisdomTree New Economy Real
Estate Fund
 
     For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2023
   

For the

Year Ended
March 31, 2022

 

INCREASE (DECREASE) IN NET ASSETS RESULTING FROM OPERATIONS:

 

     

Net investment income

  $ 9,368,356     $ 9,762,244     $ 22,223     $ 6,395     $ 684,800     $ 2,675,619  

Net realized gain (loss) on investments, futures contracts, foreign currency contracts and foreign currency related transactions

    32,625,578       92,498,238       (104,225     (55,786     (9,384,893     521,832  

Net increase (decrease) in unrealized appreciation/depreciation on investments, foreign currency contracts and translation of assets and liabilities denominated in foreign currencies

    (121,598,313     34,978,873       (822,407     668,560       (4,613,008     (6,993,362

Net increase from payment by affiliate

          3,791                          

Net increase (decrease) in net assets resulting from operations

    (79,604,379     137,243,146       (904,409     619,169       (13,313,101     (3,795,911

DISTRIBUTIONS TO SHAREHOLDERS:

 

   

Distributable earnings

    (40,595,106     (12,894,200     (109,258     (1,470     (420,750     (3,373,023

Tax return of capital

                (14,742                  

Total distributions to shareholders

    (40,595,106     (12,894,200     (124,000     (1,470     (420,750     (3,373,023

CAPITAL SHARE TRANSACTIONS:

 

   

Net proceeds from sale of shares

    117,541,739       82,707,196             1,809,189             1,325,684  

Cost of shares redeemed

    (104,949,767     (101,040,011                 (15,454,996     (2,653,067

Net increase (decrease) in net assets resulting from capital share transactions

    12,591,972       (18,332,815           1,809,189       (15,454,996     (1,327,383

Net Increase (Decrease) in Net Assets

    (107,607,513     106,016,131       (1,028,409     2,426,888       (29,188,847     (8,860,317

NET ASSETS:

 

   

Beginning of year

  $ 893,841,413     $ 787,825,282     $ 6,976,352     $ 4,549,464     $ 54,850,317     $ 63,710,634  

End of year

  $ 786,233,900     $ 893,841,413     $ 5,947,943     $ 6,976,352     $ 25,661,470     $ 54,850,317  

SHARES CREATED AND REDEEMED:

 

   

Shares outstanding, beginning of year

    24,600,000       25,200,000       200,000       150,000       2,350,000       2,400,000  

Shares created

    3,600,000       2,200,000             50,000             50,000  

Shares redeemed

    (3,200,000     (2,800,000                 (850,000     (100,000

Shares outstanding, end of year

    25,000,000       24,600,000       200,000       200,000       1,500,000       2,350,000  

 

See Notes to Financial Statements.

 

92   WisdomTree Trust


Financial Highlights

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree China ex-State-Owned
Enterprises Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 20211
     For the
Year Ended
March 31, 20201
     For the
Year Ended
March 31, 20191
 

Net asset value, beginning of year

   $ 40.89      $ 64.41      $ 38.44      $ 38.84      $ 43.62  

Investment operations:

              

Net investment income2

     0.36        0.60        0.23        0.39        0.49  

Net realized and unrealized gain (loss)

     (5.94      (23.54      26.10        (0.39      (4.82

Total from investment operations

     (5.58      (22.94      26.33        0.003        (4.33

Dividends and distributions to shareholders:

              

Net investment income

     (0.38      (0.58      (0.35      (0.40      (0.45

Tax return of capital

                   (0.01             (0.00 )3 

Total dividends and distributions to shareholders

     (0.38      (0.58      (0.36      (0.40      (0.45

Net asset value, end of year

   $ 34.93      $ 40.89      $ 64.41      $ 38.44      $ 38.84  

TOTAL RETURN4

     (13.72 )%       (35.81 )%       68.71      0.07      (9.91 )% 

RATIOS/SUPPLEMENTAL DATA:

              

Net assets, end of year (000’s omitted)

   $ 737,988      $ 835,280      $ 914,692      $ 188,351      $ 143,699  

Ratios to average net assets of:

              

Expenses, net of expense waivers

     0.32      0.32      0.32 %5       0.32 %6       0.32 %6 

Expenses, prior to expense waivers

     0.32      0.32      0.38      0.63      0.63

Net investment income

     0.99      1.10      0.37      1.03      1.31

Portfolio turnover rate7

     39      36      20      22      35

 

           
WisdomTree Emerging Markets
ex-State-Owned Enterprises Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 33.10      $ 40.31     $ 24.40      $ 28.79      $ 31.99  

Investment operations:

             

Net investment income2

     0.56        0.62       0.41        0.62        0.42  

Net realized and unrealized gain (loss)

     (5.27      (7.28     15.91        (4.38      (3.20

Net increase from payment by affiliate

            0.003       0.003               0.003  

Total from investment operations

     (4.71      (6.66     16.32        (3.76      (2.78

Dividends to shareholders:

             

Net investment income

     (0.60      (0.55     (0.41      (0.63      (0.42

Net asset value, end of year

   $ 27.79      $ 33.10     $ 40.31      $ 24.40      $ 28.79  

TOTAL RETURN4

     (14.20 )%       (16.70 )%8      67.18 %9       (13.36 )%       (8.64 )%9 

RATIOS/SUPPLEMENTAL DATA:

             

Net assets, end of year (000’s omitted)

   $ 2,170,527      $ 3,319,866     $ 4,719,936      $ 809,991      $ 305,184  

Ratios to average net assets of:

             

Expenses, net of expense waivers

     0.32      0.32     0.32 %5       0.32 %6       0.32 %6 

Expenses, prior to expense waivers

     0.32      0.32     0.37      0.58      0.58

Net investment income

     1.97      1.62     1.11      2.14      1.51

Portfolio turnover rate7

     28      18     34      19      24
1

Shares were adjusted to reflect a 2:1 stock split effective October 16, 2020.

 

2

Based on average shares outstanding.

 

3

Amount represents less than $0.005.

 

4

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. For the periods in which the investment advisor waived advisory fees, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

5

The investment advisor had contractually agreed to limit the advisory fee to 0.32% through July 31, 2020. On July 31, 2020, the contractual waiver expired and the advisory fee was permanently reduced to 0.32%.

 

6

Effective June 30, 2017, the investment advisor contractually agreed to limit the advisory fee to 0.32% through July 31, 2020, unless earlier terminated by the Board of Trustees of the Trust.

 

7 

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

8

Includes a voluntary reimbursement from the sub-advisor for investment losses on certain foreign exchange transactions during the period. Excluding this voluntary reimbursement, total return would have been unchanged.

 

9

Includes a reimbursement from the sub-advisor for an operational error that resulted in investment transaction losses. Excluding the reimbursement, total return would have been unchanged.

 

See Notes to Financial Statements.

 

WisdomTree Trust      93  


Financial Highlights (continued)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Emerging Markets High
Dividend Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2021
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 43.98      $ 44.27      $ 32.45      $ 43.72      $ 47.35  

Investment operations:

              

Net investment income1

     2.81        2.75        1.76        2.10        1.84  

Net realized and unrealized gain (loss)

     (6.21      (0.30      11.93        (11.25      (3.57

Total from investment operations

     (3.40      2.45        13.69        (9.15      (1.73

Dividends to shareholders:

              

Net investment income

     (2.80      (2.74      (1.87      (2.12      (1.90

Net asset value, end of year

   $ 37.78      $ 43.98      $ 44.27      $ 32.45      $ 43.72  

TOTAL RETURN2

     (6.97 )%       5.65      43.37      (22.06 )%       (3.51 )% 

RATIOS/SUPPLEMENTAL DATA:

              

Net assets, end of year (000’s omitted)

   $ 2,145,840      $ 2,119,845      $ 1,916,702      $ 1,638,935      $ 2,173,006  

Ratios to average net assets3 of:

              

Expenses4

     0.63 %5       0.64 %6       0.63      0.63      0.63

Net investment income

     7.53      6.16      4.58      4.91      4.23

Portfolio turnover rate7

     43      53      62      41      44

 

           
WisdomTree Emerging Markets
Multifactor Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2021
     For the
Year Ended
March 31, 2020
     For the Period
August 10, 2018*
through
March 31, 2019
 

Net asset value, beginning of period

   $ 23.66      $ 25.81      $ 17.75      $ 23.61      $ 24.68  

Investment operations:

              

Net investment income1

     0.90        1.01        0.56        0.73        0.29  

Net realized and unrealized gain (loss)

     (2.30      (2.44      7.90        (5.91      (1.16

Total from investment operations

     (1.40      (1.43      8.46        (5.18      (0.87

Dividends to shareholders:

              

Net investment income

     (0.71      (0.72      (0.40      (0.68      (0.20

Net asset value, end of period

   $ 21.55      $ 23.66      $ 25.81      $ 17.75      $ 23.61  

TOTAL RETURN2

     (5.74 )%       (5.72 )%       48.12      (22.44 )%       (3.52 )% 

RATIOS/SUPPLEMENTAL DATA:

              

Net assets, end of year (000’s omitted)

   $ 2,155      $ 2,366      $ 5,162      $ 7,102      $ 18,886  

Ratios to average net assets of:

              

Expenses

     0.48      0.48 %3,4       0.48 %3,4       0.48      0.48 %4,8 

Net investment income

     4.21      3.91 %3       2.51 %3       3.24      1.97 %8 

Portfolio turnover rate7

     123      115      125      166      133
* 

Commencement of operations. The commencement of operations date is considered to be the date that the Fund began trading in the secondary market.

 

1 

Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. For the periods in which the investment advisor waived advisory fees, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

3

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

4

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

5

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been unchanged.

 

6

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.63%.

 

7

Portfolio turnover rate is not annualized for fiscal periods less than one year and excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

8 

Annualized.

 

See Notes to Financial Statements.

 

94   WisdomTree Trust


Financial Highlights (continued)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Emerging Markets
Quality Dividend Growth Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2021
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 26.27      $ 29.51      $ 19.43      $ 24.71      $ 26.94  

Investment operations:

 

Net investment income1

     0.80        0.83        0.61        0.66        0.71  

Net realized and unrealized gain (loss)

     (3.69      (3.28      10.08        (5.32      (2.30

Total from investment operations

     (2.89      (2.45      10.69        (4.66      (1.59

Dividends to shareholders:

 

Net investment income

     (0.90      (0.79      (0.61      (0.62      (0.64

Net asset value, end of year

   $ 22.48      $ 26.27      $ 29.51      $ 19.43      $ 24.71  

TOTAL RETURN2

     (10.75 )%       (8.48 )%       55.66      (19.30 )%       (5.79 )% 

RATIOS/SUPPLEMENTAL DATA:

 

Net assets, end of year (000’s omitted)

   $ 87,681      $ 86,705      $ 94,431      $ 69,936      $ 69,189  

Ratios to average net assets of:

 

Expenses, net of expense waivers

     0.32      0.32      0.32 %3       0.32 %4       0.32 %4 

Expenses, prior to expense waivers

     0.32      0.32      0.42      0.63      0.63

Net investment income

     3.61      2.89      2.38      2.74      2.93

Portfolio turnover rate5

     40      42      57      55      81

 

           
WisdomTree Emerging Markets
SmallCap Dividend Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2021
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 53.44      $ 50.79      $ 32.98      $ 47.03      $ 53.47  

Investment operations:

 

Net investment income1

     2.25        1.99        1.58        1.82        1.79  

Net realized and unrealized gain (loss)

     (7.65      2.80        18.04        (14.02      (6.35

Total from investment operations

     (5.40      4.79        19.62        (12.20      (4.56

Dividends to shareholders:

 

Net investment income

     (2.32      (2.14      (1.81      (1.85      (1.88

Net asset value, end of year

   $ 45.72      $ 53.44      $ 50.79      $ 32.98      $ 47.03  

TOTAL RETURN2

     (9.76 )%       9.48      60.63      (26.95 )%       (8.40 )% 

RATIOS/SUPPLEMENTAL DATA:

 

Net assets, end of year (000’s omitted)

   $ 2,688,439      $ 2,575,592      $ 1,935,213      $ 1,216,850      $ 1,424,969  

Ratios to average net assets6 of:

 

Expenses7

     0.58      0.61 %8,9       0.63      0.63      0.63

Net investment income

     4.96      3.75      3.65      4.05      3.81

Portfolio turnover rate5

     53      45      59      47      40
1 

Based on average shares outstanding.

 

2

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. For the periods in which the investment advisor waived advisory fees, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

3

The investment advisor had contractually agreed to limit the advisory fee to 0.32% through July 31, 2020. On July 31, 2020, the contractual waiver expired and the advisory fee was permanently reduced to 0.32%.

 

4

Effective June 30, 2017, the investment advisor contractually agreed to limit the advisory fee to 0.32% through July 31, 2020, unless earlier terminated by the Board of Trustees of the Trust.

 

5

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

6 

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

7 

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

8 

Prior to September 1, 2021, the Fund’s annual advisory fee rate was 0.63% and, thereafter, was reduced to 0.58% per annum.

 

9 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.60%.

 

See Notes to Financial Statements.

 

WisdomTree Trust      95  


Financial Highlights (continued)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Global ex-U.S.
Quality Dividend Growth Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 20221
    For the
Year Ended
March 31, 20211
     For the
Year Ended
March 31, 20201
     For the
Year Ended
March 31, 20191
 

Net asset value, beginning of year

   $ 39.95      $ 38.60     $ 26.57      $ 27.80      $ 29.52  

Investment operations:

 

Net investment income2

     1.38        1.01       0.80        0.80        0.58  

Net realized and unrealized gain (loss)

     (4.62      1.15       11.94        (1.31      (1.67

Total from investment operations

     (3.24      2.16       12.74        (0.51      (1.09

Dividends to shareholders:

 

Net investment income

     (1.34      (0.81     (0.71      (0.72      (0.63

Net asset value, end of year

   $ 35.37      $ 39.95     $ 38.60      $ 26.57      $ 27.80  

TOTAL RETURN3

     (7.53 )%       5.57     48.25      (2.01 )%       (3.65 )% 

RATIOS/SUPPLEMENTAL DATA:

 

Net assets, end of year (000’s omitted)

   $ 526,997      $ 567,239     $ 355,130      $ 95,661      $ 72,280  

Ratios to average net assets4 of:

 

Expenses

     0.43 %5,6       0.54 %6,7,8      0.58      0.58 %6       0.58 %6 

Net investment income

     4.16      2.44     2.29      2.68      2.11

Portfolio turnover rate9

     67      59     56      56      60

 

           
WisdomTree Global High Dividend
Fund
   For the
Year Ended
March 31, 2023
     For the
Year Ended
March 31, 2022
     For the
Year Ended
March 31, 2021
     For the
Year Ended
March 31, 2020
     For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

   $ 51.03      $ 46.89      $ 34.33      $ 46.11      $ 46.38  

Investment operations:

 

Net investment income2

     1.91        1.95        1.63        1.78        1.77  

Net realized and unrealized gain (loss)

     (4.21      4.02        12.62        (11.79      (0.18

Total from investment operations

     (2.30      5.97        14.25        (10.01      1.59  

Dividends to shareholders:

 

Net investment income

     (1.87      (1.83      (1.69      (1.77      (1.86

Net asset value, end of year

   $ 46.86      $ 51.03      $ 46.89      $ 34.33      $ 46.11  

TOTAL RETURN3

     (4.28 )%       12.96      42.38      (22.46 )%       3.59

RATIOS/SUPPLEMENTAL DATA:

 

Net assets, end of year (000’s omitted)

   $ 135,908      $ 68,889      $ 65,641      $ 66,952      $ 92,227  

Ratios to average net assets4 of:

 

Expenses6

     0.58 %8       0.58 %8       0.58      0.58      0.58

Net investment income

     4.09      3.98      4.05      3.88      3.86

Portfolio turnover rate9

     45      39      48      32      19
1

Per share amounts were adjusted to reflect a 2:1 stock split effective June 9, 2021.

 

2

Based on average shares outstanding.

 

3

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. For the periods in which the investment advisor waived advisory fees, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

4

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

5 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.42%.

 

6

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

7

Prior to January 1, 2022, the Fund’s annual advisory fee rate was 0.58% and, thereafter, was reduced to 0.42% per annum.

 

8

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been unchanged.

 

9

Portfolio turnover rate excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

See Notes to Financial Statements.

 

96   WisdomTree Trust


Financial Highlights (continued)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree Growth Leaders Fund                        For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 20211
    For the Period
May 22, 2019*
through
March 31, 2020
 

Net asset value, beginning of period

          $ 37.00     $ 44.34     $ 23.34     $ 24.80  

Investment operations:

         

Net investment income2

      0.05       0.01       0.03       0.06  

Net realized and unrealized gain (loss)

            (7.75     (7.34     21.02       (1.44

Total from investment operations

            (7.70     (7.33     21.05       (1.38

Dividends to shareholders:

 

Net investment income

            (0.04     (0.01     (0.05     (0.08

Net asset value, end of period

          $ 29.26     $ 37.00     $ 44.34     $ 23.34  

TOTAL RETURN3

            (20.79 )%      (16.53 )%      90.18     (5.61 )% 

RATIOS/SUPPLEMENTAL DATA:

         

Net assets, end of period (000’s omitted)

    $ 10,386     $ 15,356     $ 14,410     $ 1,751  

Ratios to average net assets of:

         

Expenses

      0.20     0.20     0.24 %4      0.45 %5 

Net investment income

            0.17     0.02     0.08     0.27 %5 

Portfolio turnover rate6

            27     52     40     9

 

           

WisdomTree India Earnings Fund

(consolidated)

  For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

  $ 36.34     $ 31.26     $ 16.19     $ 26.26     $ 25.88  

Investment operations:

         

Net investment income2

    0.41       0.38       0.16       0.30       0.28  

Net realized and unrealized gain (loss)

    (3.45     5.20       15.16       (10.18     0.45  

Net increase from payment by affiliate

          0.00 7                   

Total from investment operations

    (3.04     5.58       15.32       (9.88     0.73  

Dividends and distributions to shareholders:

         

Net investment income

    (1.85     (0.50     (0.25     (0.19     (0.34

Tax return of capital

                            (0.01

Total dividends and distributions to shareholders

    (1.85     (0.50     (0.25     (0.19     (0.35

Net asset value, end of year

  $ 31.45     $ 36.34     $ 31.26     $ 16.19     $ 26.26  

TOTAL RETURN3

    (8.05 )%      17.85 %8      95.10     (37.84 )%      2.89

RATIOS/SUPPLEMENTAL DATA:

         

Net assets, end of year (000’s omitted)

  $ 786,234     $ 893,841     $ 787,825     $ 563,317     $ 1,323,424  

Ratios to average net assets of:

         

Expenses

    0.85 %9,10,11      0.84 %9,10,12      0.84 %9,10,12      0.84 %9,10,12      0.85 %12 

Net investment income

    1.25 %9      1.07 %9      0.67 %9      1.22 %9      1.14

Portfolio turnover rate6

    51     30     23     32     37
* 

Commencement of operations. The commencement of operations date is considered to be the date that the Fund began trading in the secondary market.

 

1 

The information reflects the investment objective and strategy of the WisdomTree Modern Tech Platforms Fund through July 31, 2020 and the investment objective and strategy of the WisdomTree Growth Leaders Fund thereafter. The increase in the portfolio turnover rate was primarily a result of the aforementioned investment objective and strategy change.

 

2 

Based on average shares outstanding.

 

3 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized. For the periods in which the investment advisor waived advisory fees for the WisdomTree India Earnings Fund, the total return would have been lower if certain expenses had not been waived (Notes 2 and 3).

 

4 

Prior to August 1, 2020, the Fund’s net expense ratio was 0.45% and, thereafter, was reduced to 0.20% per annum.

 

5 

Annualized.

 

6 

Portfolio turnover rate is not annualized for fiscal periods less than one year and excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

7 

Amount represents less than $0.005.

 

8 

Includes a voluntary reimbursement from the sub-advisor for investment losses on certain foreign exchange transactions during the period. Excluding this voluntary reimbursement, total return would have been 0.04% lower.

 

9 

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

10 

The expense ratio includes investment advisory fee waivers. Without these investment advisory fee waivers, the expense ratio would have been unchanged.

 

11 

Includes interest expense of 0.02% for the fiscal year.

 

12 

Includes interest expense of 0.01% for the fiscal year.

 

See Notes to Financial Statements.

 

WisdomTree Trust      97  


Financial Highlights (concluded)

WisdomTree Trust

Selected data for a share of beneficial interest outstanding throughout the period is presented below:

 

 

WisdomTree India ex-State-Owned Enterprises
Fund
                       For the
Year Ended
March 31, 2023
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the Period
April 4, 2019*
through
March 31, 2020
 

Net asset value, beginning of period

          $ 34.88     $ 30.33     $ 17.64     $ 24.67  

Investment operations:

 

Net investment income1

      0.11       0.04       0.05       0.19  

Net realized and unrealized gain (loss)

            (4.63     4.52       12.69       (7.22

Total from investment operations

            (4.52     4.56       12.74       (7.03

Dividends and distributions to shareholders:

 

Net investment income

      (0.55     (0.01     (0.05      

Tax return of capital

            (0.07                  

Total dividends and distributions to shareholders

            (0.62     (0.01     (0.05      

Net asset value, end of period

          $ 29.74     $ 34.88     $ 30.33     $ 17.64  

TOTAL RETURN2

            (12.97 )%      15.04     72.25     (28.50 )% 

RATIOS/SUPPLEMENTAL DATA:

         

Net assets, end of period (000’s omitted)

    $ 5,948     $ 6,976     $ 4,549     $ 882  

Ratios to average net assets of:

         

Expenses

      0.58     0.58     0.58     0.58 %3 

Net investment income

            0.35     0.11     0.20     0.80 %3 

Portfolio turnover rate4

            16     15     36     82

 

WisdomTree New Economy Real Estate Fund   For the
Year Ended
March 31, 20235
    For the
Year Ended
March 31, 2022
    For the
Year Ended
March 31, 2021
    For the
Year Ended
March 31, 2020
    For the
Year Ended
March 31, 2019
 

Net asset value, beginning of year

  $ 23.34     $ 26.55     $ 22.11     $ 32.15     $ 32.04  

Investment operations:

 

Net investment income1

    0.35       1.14       0.89       1.13       1.12  

Net realized and unrealized gain (loss)

    (6.37     (2.74     4.35       (8.79     0.24  

Total from investment operations

    (6.02     (1.60     5.24       (7.66     1.36  

Dividends to shareholders:

 

Net investment income

    (0.21     (1.61     (0.80     (2.38     (1.25

Net asset value, end of year

  $ 17.11     $ 23.34     $ 26.55     $ 22.11     $ 32.15  

TOTAL RETURN2

    (25.82 )%      (6.45 )%      23.92     (25.74 )%      4.51

RATIOS/SUPPLEMENTAL DATA:

         

Net assets, end of year (000’s omitted)

  $ 25,661     $ 54,850     $ 63,711     $ 80,703     $ 114,146  

Ratios to average net assets of:

         

Expenses

    0.59 %6      0.59 %6      0.58     0.58 %7      0.58 %7 

Net investment income

    1.90     4.48     3.59     3.75 %7      3.72 %7 

Portfolio turnover rate4

    165 %5      7     39     21     17
* 

Commencement of operations. The commencement of operations date is considered to be the date that the Fund began trading in the secondary market.

 

1 

Based on average shares outstanding.

 

2 

Total return is calculated assuming an initial investment made at the net asset value at the beginning of the period, reinvestment of all dividends and distributions at net asset value during the period and redemption on the last day of the period. Total return calculated for a period of less than one year is not annualized.

 

3 

Annualized.

 

4 

Portfolio turnover rate is not annualized for fiscal periods less than one year and excludes the value of the portfolio securities received or delivered as a result of in-kind creations or redemptions of the Fund’s capital shares. Short-term securities with maturities less than or equal to 365 days are excluded from the portfolio turnover calculation.

 

5 

The information reflects the investment objective and strategy of the WisdomTree Global ex-U.S. Real Estate Fund through April 20, 2022 and the investment objective and strategy of the WisdomTree New Economy Real Estate Fund thereafter. The increase in the portfolio turnover rate was primarily a result of the aforementioned investment objective and strategy change.

 

6 

Included in the expense ratio are “Other fees” described in Note 6. Without these expenses, the expense ratio would have been 0.58%.

 

7 

The ratios to average net assets do not include net investment income (loss) or expenses of other funds in which the Fund invests.

 

See Notes to Financial Statements.

 

98   WisdomTree Trust


Notes to Financial Statements

 

1. ORGANIZATION

WisdomTree Trust (the “Trust”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company. The Trust was established as a Delaware statutory trust on December 15, 2005 and is authorized to have multiple series of portfolios (each a “Fund”, collectively, the “Funds”). These notes relate only to the Funds listed below. In accordance with Accounting Standards Codification Topic 946, Financial Services-Investment Companies, each Fund listed below qualifies as an investment company and is applying the accounting and reporting guidance for investment companies.

 

   
Fund    Commencement
of Operations
 

WisdomTree China ex-State-Owned Enterprises Fund (“China ex-State-Owned Enterprises Fund”)

     September 19, 2012  

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund (“Emerging Markets ex-State-Owned Enterprises Fund”)

     December 10, 2014  

WisdomTree Emerging Markets High Dividend Fund (“Emerging Markets High Dividend Fund”)

     July 13, 2007  

WisdomTree Emerging Markets Multifactor Fund (“Emerging Markets Multifactor Fund”)

     August 10, 2018  

WisdomTree Emerging Markets Quality Dividend Growth Fund (“Emerging Markets Quality Dividend Growth Fund”)

     August 1, 2013  

WisdomTree Emerging Markets SmallCap Dividend Fund (“Emerging Markets SmallCap Dividend Fund”)

     October 30, 2007  

WisdomTree Global ex-U.S. Quality Dividend Growth Fund (“Global ex-U.S. Quality Dividend Growth Fund”)

     June 16, 2006  

WisdomTree Global High Dividend Fund (“Global High Dividend Fund”)

     June 16, 2006  

WisdomTree Growth Leaders Fund (“Growth Leaders Fund”)

     May 22, 2019  

WisdomTree India Earnings Fund (“India Earnings Fund”) (consolidated)

     February 22, 2008  

WisdomTree India ex-State-Owned Enterprises Fund (“India ex-State-Owned Enterprises Fund”)

     April 4, 2019  

WisdomTree New Economy Real Estate Fund (“New Economy Real Estate Fund”) (formerly, WisdomTree Global ex-U.S. Real Estate Fund)

     June 5, 2007  

The India Earnings Fund makes its investments through the WisdomTree India Investment Portfolio, Inc. (the “Portfolio”), a wholly owned subsidiary organized in the Republic of Mauritius (“Mauritius”). The Portfolio was incorporated under the provisions of the Mauritius Companies Act, 2001 and holds a Global Business License Category 1 issued by the Financial Services Commission.

Each Fund, except for the Emerging Markets Multifactor Fund and Emerging Markets Quality Dividend Growth Fund, seeks to track the price and yield performance, before fees and expenses, of a particular index (“Index”) developed by WisdomTree, Inc. (“WisdomTree”) or an Index developed by a third party. The Emerging Markets Multifactor Fund is actively managed using a model-based approach seeking capital appreciation. The Emerging Markets Quality Dividend Growth Fund is actively managed using a model-based approach seeking income and capital appreciation. WisdomTree is the parent company of WisdomTree Asset Management, Inc. (“WTAM”), the investment adviser to each Fund (including the Portfolio) and the Trust. “WisdomTree” is a registered trademark of WisdomTree and has been licensed for use by the Trust. Each Fund described herein is considered to be non-diversified as defined under the 1940 Act.

In the normal course of business, the Funds may enter into contracts that contain a variety of representations or that provide indemnification for certain liabilities. The Funds’ maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, the Funds have not had prior claims or losses pursuant to these contracts and believe such exposure to be remote.

2. SIGNIFICANT ACCOUNTING POLICIES

The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (the “Codification”) is the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal laws are also sources of authoritative GAAP for SEC registrants.

The following is a summary of significant accounting policies followed by the Funds:

Use of Estimates — The preparation of financial statements in conformity with GAAP, requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in the net assets from operations during the reporting period. Actual results could differ from those estimates.

Basis of Consolidation — The financial statements for the India Earnings Fund include the accounts of a wholly-owned and controlled Mauritius subsidiary (the “Subsidiary”). The India Earnings Fund’s accompanying financial statements reflect the financial position and the results of operations on a consolidated basis with its Subsidiary. All intercompany accounts and transactions have been eliminated in the consolidation.

 

WisdomTree Trust      99  


Notes to Financial Statements (continued)

 

Investment Valuation — The net asset value (“NAV”) of each Fund’s shares is calculated each day a Fund is open for business as of the regularly scheduled close of regular trading on the New York Stock Exchange, normally 4:00 p.m. Eastern time (the “NAV Calculation Time”). NAV per share is calculated by dividing a Fund’s net assets by the number of Fund shares outstanding. Each Fund issues and redeems shares at NAV only in large blocks of shares known as creation units, which only certain institutions (e.g., broker-dealers) may purchase or redeem. Shares of each Fund are listed on a national securities exchange and trade at market prices. Most investors will buy and sell shares in the secondary market through brokers. Because Fund shares trade at market prices rather than NAV, shares may trade at a price greater than NAV or less than NAV. In calculating each Fund’s NAV, investments are valued under policies approved by the Board of Trustees of the Trust (the “Board of Trustees”). Equity securities (including preferred stock) traded on any recognized U.S. or non-U.S. exchange are valued at the last sale price or official closing price on the exchange on which they are principally traded. Unlisted equity securities (including preferred stock) are valued at the last sale price or, if no sale price is available, at the mean between the highest bid and lowest ask price. Fixed income securities generally are valued at current market quotations or mean prices obtained from broker-dealers or independent pricing service providers. Broker-dealers or independent pricing service providers, in determining the value of securities, may consider such factors as recent transactions, indications from yields and quoted prices from broker-dealers on similar securities, and market sentiment for the type of security. U.S. fixed income securities may be valued as of the announced closing time for such securities on any day that the Securities Industry and Financial Markets Association announces an early closing time. Each Fund may invest in money market funds which are valued at their NAV per share and exchange-traded funds (“ETFs” or “ETF”) or exchange-traded notes (“ETNs” or “ETN”) which are valued at their last sale or official closing price on the exchange on which they are principally traded or at their NAV per share in instances where the ETF or ETN has not traded on its principal exchange. Foreign currency contracts that settle within two business days after the trade date (“Spot Contracts”) and foreign currency contracts having a settlement period greater than two business days after the trade date (“Forward Contracts”) are valued daily using WM/Reuters closing spot and forward rates, respectively, as of 4:00 p.m. London time. Futures contracts generally are valued at the settlement price, the price at which a futures contract settles once a given trading day has ended, on the primary exchange on which they trade.

Pursuant to Board-approved valuation procedures established by the Trust and WTAM, the Board has appointed WTAM as the Funds’ valuation designee (the “Valuation Designee”) to perform all fair valuations of the Funds’ portfolio investments, subject to the Board’s oversight. As the Valuation Designee, WTAM has established procedures for its fair valuation of a Fund’s portfolio investments. These procedures address, among other things, determining when market quotations are not readily available or reliable and the methodologies to be used for determining the fair value of investments, as well as the use and oversight of third-party pricing services for fair valuation. The Valuation Designee is comprised of senior representatives of WTAM and reports to the Board of Trustees on a quarterly basis. In the event that a financial instrument cannot be valued based upon a price from the exchange or system on which it is principally traded, independent pricing service provider or broker-dealer quotation, or such prices are deemed to not reflect current market value, the Valuation Designee may value the financial instrument in good faith under the policies and procedures approved by the Board of Trustees based on current facts and circumstances. Securities that may be valued using “fair value” pricing may include, but are not limited to, securities for which there are no current market quotations, securities whose issuer is in default or bankruptcy, securities subject to corporate actions (such as mergers or reorganizations), securities subject to non-U.S. investment limits or currency controls, and securities affected by “significant events.” An example of a significant event is an event occurring after the close of the market in which a security trades but before a Fund’s next NAV Calculation Time that may materially affect the value of a Fund’s investment (e.g., government action, natural disaster, or significant market fluctuation). When fair value pricing is employed, the prices of securities used by a Fund to calculate its NAV may differ from quoted or published prices for the same securities.

Fair Value Measurement In accordance with Codification Topic 820 (“ASC 820”), Fair Value Measurements and Disclosures, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Valuation Designee will perform other procedures (consistent with GAAP) to value an investment when a market quote is not available. ASC 820 established a three-tier hierarchy of inputs to be used when determining fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability, including assumptions about risk — for example, the risk inherent in a particular valuation technique used to measure fair value (such as a pricing model) and/or the risk inherent in the inputs to the valuation technique. Inputs may be observable or unobservable. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The three-tier hierarchy of inputs is summarized in the three broad levels listed below:

Level 1 – quoted prices in active markets for identical securities

Level 2 – other significant observable inputs (including quoted prices for similar securities, interest rates,

prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including each Fund’s assumptions in determining the fair value of

investments)

 

100   WisdomTree Trust


Notes to Financial Statements (continued)

 

The inputs or methodology used for valuation are not necessarily an indication of the risk associated with investing in those investments.

Investments that use Level 2 or Level 3 inputs may include, but are not limited to: (i) an unlisted security related to corporate actions; (ii) a restricted security (e.g., one that may not be publicly sold without registration under the Securities Act of 1933, as amended); (iii) a security whose trading has been suspended (either due to events affecting the issuer of the security specifically or events affecting the primary trading exchange more broadly) or which has been de-listed from its primary trading exchange; (iv) a security that is thinly traded; (v) a security in default or bankruptcy proceedings for which there is no current market quotation or market activity; (vi) a security affected by currency controls or restrictions; and (vii) a security affected by a significant event (e.g., an event that occurs after the close of the markets in which the security is traded but before the time as of which a Fund’s NAV is computed and that may materially affect the value of the Fund’s investments).

The valuation techniques and significant inputs used in determining the fair market value measurements for Level 2 and Level 3 positions are as follows:

Financial instruments are generally valued by independent pricing service providers that use broker-dealer quotations, reported trades or valuation estimates from their internal pricing models. Depending on the type of financial instrument, the independent pricing service providers’ internal pricing models may use inputs that are observable such as issuer details (e.g., credit rating, debt ranking, coupon date, maturity date, etc.), interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar assets. Financial instruments that use similar valuation techniques and observable inputs as described above and have an appropriate level of market activity are categorized as Level 2 of the fair value hierarchy, otherwise a Level 3 fair value classification is appropriate. Over-the-counter financial derivative instruments derive their value from underlying asset prices, indices, reference rates, and other inputs or a combination of these factors. These instruments are normally valued on the basis of broker-dealer quotations or prices obtained from independent pricing service providers. Depending on the product and the terms of the transaction, the value of the financial derivative instruments can be estimated by an independent pricing service provider using a series of techniques including simulation pricing models. The pricing models may use inputs that are observed from actively quoted markets such as issuer details, indices, credit risks/spreads, interest rates, yield curves, default and exchange rates. Derivative contracts that use similar valuation techniques and observable inputs as described above and have an appropriate level of market activity are categorized as Level 2 of the fair value hierarchy, otherwise a Level 3 fair value classification is appropriate.

Determination of a fair value by the Valuation Designee may include significant unobservable inputs and therefore such financial instruments would be reflected as a Level 3 of the fair value hierarchy. The Valuation Designee may employ a market-based valuation approach which may use, among other potential considerations, related or comparable securities, recent transactions, market multiples, and other relevant information to determine fair value. The Valuation Designee may also use an income-based valuation approach in which anticipated future cash flows of the financial instrument are discounted to calculate fair value.

The summary of fair valuations according to the inputs used in valuing each Fund’s assets as of the measurement date is included in a “Fair Valuation Summary” supplementary table in each applicable Fund’s Schedule of Investments.

During the fiscal year ended March 31, 2023, there were no significant transfers into or out of Level 3 of the fair value hierarchy.

Derivatives and Hedging Disclosure — Codification Topic 815 (“ASC 815”), Derivatives and Hedging, requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts as well as gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements. The Funds have invested in derivatives, specifically foreign currency contracts during the fiscal year ended March 31, 2023 and open positions in such derivatives as of March 31, 2023 are detailed in each Fund’s Schedule of Investments. All of the derivative instruments disclosed and described herein are subject to credit risk. Risks may arise upon entering into foreign currency contracts from potential inability of a counterparty to meet the terms of their contracts and from unanticipated movements in the value of the foreign currencies relative to the U.S. dollar or each other. Any collateral posted (or received) with respect to the derivative positions would be used to offset or reduce the payment due to (or due from) a counterparty in the event of default. Information with respect to the amounts and types of collateral received and/or posted for derivative instruments as of March 31, 2023, if any, is reflected as a footnote within each Fund’s Schedule of Investments. The Funds’ maximum credit risk exposure to derivatives agreements would be the total value of derivatives disclosed in the table included in Note 2 — Master Netting Arrangements under the column entitled “Assets: Net Amount”.

 

WisdomTree Trust      101  


Notes to Financial Statements (continued)

 

As of March 31, 2023, the effects of such derivative instruments on each Fund’s financial position as reflected in the Statements of Assets and Liabilities are presented in the summary below:

 

     
     Asset Derivatives      Liability Derivatives  
Fund    Balance Sheet Location    Value      Balance Sheet Location    Value  

China ex-State-Owned Enterprises Fund

           

Foreign currency risk

   Unrealized appreciation on foreign currency contracts    $ 3      Unrealized depreciation on foreign currency contracts    $  

Emerging Markets High Dividend Fund

           

Foreign currency risk

   Unrealized appreciation on foreign currency contracts      40      Unrealized depreciation on foreign currency contracts       

Emerging Markets Multifactor Fund

           

Foreign currency risk

   Unrealized appreciation on foreign currency contracts      926      Unrealized depreciation on foreign currency contracts      15,800  

Emerging Markets Quality Dividend Growth Fund

           

Foreign currency risk

   Unrealized appreciation on foreign currency contracts           Unrealized depreciation on foreign currency contracts      152  

Global ex-U.S. Quality Dividend Growth Fund

           

Foreign currency risk

   Unrealized appreciation on foreign currency contracts      2,183      Unrealized depreciation on foreign currency contracts      9  

New Economy Real Estate Fund

           

Foreign currency risk

   Unrealized appreciation on foreign currency contracts      4      Unrealized depreciation on foreign currency contracts      29  

For the fiscal year ended March 31, 2023, the effects of derivative instruments on each applicable Fund’s financial performance as reflected in the Statements of Operations are presented in the summary below:

 

     
Fund    Amount of Realized Gain
or (Loss) on Derivatives
Recognized1
     Change in Unrealized
Appreciation or
(Depreciation) on
Derivatives  Recognized2
 

China ex-State-Owned Enterprises Fund

     

Foreign currency risk

   $ (1,674,715    $ 673  

Emerging Markets ex-State-Owned Enterprises Fund

     

Equity risk

     (230,010       

Foreign currency risk

     3,817,448         

Emerging Markets High Dividend Fund

     

Equity risk

     (167,745       

Foreign currency risk

     164,358        40  

Emerging Markets Multifactor Fund

     

Foreign currency risk

     67,531        (12,297

Emerging Markets Quality Dividend Growth Fund

     

Equity risk

     (4,971       

Foreign currency risk

     10,000        (152

Emerging Markets SmallCap Dividend Fund

     

Equity risk

     (225,780       

Foreign currency risk

     (2,626,899       

Global ex-U.S. Quality Dividend Growth Fund

     

Foreign currency risk

     267,655        3,568  

Global High Dividend Fund

     

Foreign currency risk

     (3,205       

Growth Leaders Fund

     

Foreign currency risk

     (4,858       

India Earnings Fund (consolidated)

     

Equity risk

     (71,515       

Foreign currency risk

     (372,703       

 

102   WisdomTree Trust


Notes to Financial Statements (continued)

 

     
Fund    Amount of Realized Gain
or (Loss) on Derivatives
Recognized1
     Change in Unrealized
Appreciation or
(Depreciation) on
Derivatives  Recognized2
 

India ex-State-Owned Enterprises Fund

     

Equity risk

   $ 11,322      $  

Foreign currency risk

     (702       

New Economy Real Estate Fund

     

Foreign currency risk

     234,029        (79
  1 

Realized gains (losses) on derivatives are located on the Statements of Operations as follows:

 

Foreign currency risk

   Net realized gain (loss) from foreign currency contracts

Equity risk

   Net realized gain (loss) from futures contracts

 

  2 

Change in unrealized appreciation (depreciation) is located on the Statements of Operations as follows:

 

Foreign currency risk

   Net increase (decrease) in unrealized appreciation/depreciation from foreign currency contracts

During the fiscal year ended March 31, 2023, the volume of derivative activity (based on the average of month-end balances, except where footnoted) for each Fund was as follows:

 

   
     Average Notional  
Fund    Foreign currency
contracts
(to deliver
USD)
     Foreign currency
contracts
(to receive
USD)
     Futures
contracts
(long)
 

China ex-State-Owned Enterprises Fund

        

Foreign currency risk

   $ 697,387      $ 224,796      $  

Emerging Markets ex-State-Owned Enterprises Fund

        

Equity risk1

                   7,153,535  

Foreign currency risk

     902,627        3,863,576         

Emerging Markets High Dividend Fund

        

Equity risk1

                   4,952,688  

Foreign currency risk

     287,595        1,686,850         

Emerging Markets Multifactor Fund

        

Foreign currency risk

     824,179        1,904,216         

Emerging Markets Quality Dividend Growth Fund

        

Equity risk1

                   156,093  

Foreign currency risk

     62,097        30,636         

Emerging Markets SmallCap Dividend Fund

        

Equity risk1

                   5,749,130  

Foreign currency risk

     660,852        748,525         

Global ex-U.S. Quality Dividend Growth Fund

        

Foreign currency risk

     686,233        132,066         

Global High Dividend Fund

        

Foreign currency risk

     51,900        5,212         

Growth Leaders Fund

        

Foreign currency risk1

     5,450        32,704        –    

India Earnings Fund (consolidated)

        

Equity risk1

                   7,132,560  

Foreign currency risk1

     11,341,842        539,795        –    

India ex-State-Owned Enterprises Fund

        

Equity risk1

     –          –          72,785  

Foreign currency risk1

     17,703        5,779        –    

New Economy Real Estate Fund

        

Foreign currency risk

     13,297        2,508        –    
  1

The volume of derivatives for the period is based on intra-month balances.

Investment Transactions and Investment Income — Investment transactions are recorded as of the date that the securities are purchased or sold (trade date). Realized gains and losses on sales of portfolio securities are calculated using the identified-cost method. Dividend income (less foreign taxes withheld, if any) is recognized on the ex-dividend date or as soon as practicable (with respect to foreign dividends) after the existence of a dividend declaration has been determined. Non-cash dividend income is recognized on the ex-dividend date, or as soon as practicable (with respect to foreign dividends) after the existence of a dividend declaration has been determined, at the fair value of securities to be received. On each measurement date, the Funds evaluate the collectability of receivable balances. Generally, the Funds will write-off dividend receivable balances that are canceled by the issuer as

 

WisdomTree Trust      103  


Notes to Financial Statements (continued)

 

of the date that the dividend receivable cancellation notification was publicly made available or when it becomes probable that dividends will not be collected and the amount of uncollectable dividends can be reasonably estimated. In addition, the Funds generally will write-off interest receivable balances in default by the issuer as of the date any applicable interest payment grace period or forbearance period expires or as of the date any interest payment cancellation notification was publicly made available or when it becomes probable that interest will not be collected and the amount of uncollectable interest can be reasonably estimated. Interest income (including amortization of premiums and accretion of discounts), less any foreign taxes withheld, is accrued daily. Generally, amortization of premiums and accretion of discounts are recognized daily using the effective interest method (also known as the scientific amortization method). Income earned from securities lending activities (i.e., securities lending income), net of fees payable to the securities borrower and/or securities lending agent, is accrued daily.

During the fiscal year ended March 31, 2023, dividend payments denominated in Russian rubles from certain sanctioned Russian issuers were made into restricted foreign cash accounts held by the Funds’ custodian on behalf of the Emerging Markets ex-State-Owned Enterprises Fund, Emerging Markets High Dividend Fund, Emerging Markets Multifactor Fund, Emerging Markets Quality Dividend Growth Fund, Global ex-U.S. Quality Dividend Growth Fund, and Global High Dividend Fund. Under sanctions imposed by the United States (“U.S.”) and the European Union (“E.U.”) against Russia and certain Russian issuers pertaining to Russia’s invasion of Ukraine, payments (such as dividend payments or interest payments) made by sanctioned issuers to entities domiciled in the U.S., such as the Funds, or E.U. are restricted from withdrawal or use and there is no assurance these sanctioned payments will be ultimately collected by the Funds. As a result of U.S. sanctions in place against Russia and certain Russian issuers and significant uncertainty as to whether these sanctions will be removed or lifted, the Funds have not recognized these Russian dividend payments.

Foreign Taxes — The Funds may be subject to foreign taxes (a portion of which may be reclaimable or refundable) on foreign income or capital gains on investment transactions. All foreign taxes are recorded in accordance with the applicable foreign tax regulations and tax rates that exist in the foreign jurisdictions in which the Funds invest. These foreign taxes, if any, are accrued and applied to foreign income as the foreign income is earned and are reflected in the Statements of Operations as follows: foreign taxes withheld on dividends are presented as a reduction to investment income in “Less: Foreign withholding taxes on dividends”, foreign taxes on capital gains from investment transactions, if any, are included in “Net realized gain (loss) from investment transactions”, and deferred foreign taxes on net unrealized appreciation on investments, if any, are included in “Net increase (decrease) in unrealized appreciation/depreciation on investment transactions”. Foreign taxes payable or deferred as of March 31, 2023, if any, are disclosed in the Statements of Assets and Liabilities in “Payables: Foreign capital gains tax”.

In certain foreign jurisdictions, when the Funds incur subsequent capital losses on investment transactions that occurred during the tax year in the applicable foreign jurisdiction, the Funds may be entitled to a refund on any foreign taxes paid on previous capital gain investment transactions that occurred during the tax year of the applicable foreign jurisdiction. Foreign capital gain tax refunds on investment transactions are included in “Net realized gain (loss) from investment transactions” on the Statements of Operations and foreign capital gain tax refunds that remain unpaid as of March 31, 2023, if any, are disclosed in the Statements of Assets and Liabilities in “Receivables: Foreign capital gains tax refund”.

The Funds file foreign tax reclaims in certain foreign jurisdictions to recover a portion of amounts previously withheld on dividend income if the tax reclaim is “more likely than not” to be sustained assuming examination by tax authorities. This determination is based on, among other things, a jurisdiction’s legal obligation to pay reclaims as well as payment history and market convention. Foreign tax reclaims recorded relating to current fiscal year investment income are included in the Statements of Operations as a reduction to the balance shown for “Foreign withholding taxes on dividends” and foreign tax reclaims recorded, but not yet received as of March 31, 2023, if any, are shown on the Statements of Assets and Liabilities in “Receivables: Foreign tax reclaims”.

The Portfolio holds a tax residency certificate issued by the Mauritian Revenue authorities as well as other tax residency related documentation prescribed by the Indian Revenue authorities and should be regarded as the beneficial owner of the investments made in Indian securities, which should entitle it to claim the benefits of the double taxation avoidance agreement entered between the Government of India and Mauritius (“tax treaty”).

The taxable profits derived from the Portfolio are subject to income tax at the rate of 15% in the Republic of Mauritius (“Mauritius”) and eligible for a presumed foreign tax credit of 80% of the Mauritian tax on the respective foreign income which effectively limits the maximum income tax payable to an effective rate of 3%. The Mauritius income tax is paid by WTAM (out of its fee paid by the India Earnings Fund), accordingly, no provision for Mauritius income taxes is required. Under the tax treaty, as amended, Mauritius entities (such as the Portfolio) are subject to tax on capital gains arising on the disposal of shares of an Indian company. However, investments in shares acquired up to March 31, 2017 are grandfathered, thus exempted from capital gains tax in India irrespective of the date of disposal (subject to the entity being eligible for the tax treaty benefits). The Indian tax rates applicable on disposal of securities would depend on the nature of securities, the holding period and the manner of disposal. Further, Indian tax laws have introduced certain General Anti-Avoidance Rules (“GAAR”) applicable to financial years beginning on or after April 1, 2017 (i.e., investments made into India on or after April 1, 2017). GAAR is applied if the “main purpose” of the arrangement is to obtain a tax benefit. With effect from April 1, 2017, the investments made by the Portfolio would be subject to GAAR if any tax benefit is claimed by the Portfolio. Reference to investments by the India Earnings Fund herein should be understood to refer to investments by the Portfolio.

 

104   WisdomTree Trust


Notes to Financial Statements (continued)

 

Foreign Currency Translation — The accounting records of the Funds are maintained in U.S. dollars. Foreign currencies, as well as investment securities and other assets and liabilities denominated in foreign currencies, are translated into U.S. dollars using exchange rates prevailing on the respective dates of such transactions that are deemed appropriate by WTAM. Realized and unrealized foreign exchange gains and losses on investments are included as a component of “net realized gain (loss) from investment transactions” and “net increase (decrease) in unrealized appreciation/depreciation from investment transactions”, respectively, on the Statements of Operations. Realized and unrealized foreign exchange gains or losses from foreign currency contracts are included in “net realized gain (loss) from foreign currency contracts” and “net increase (decrease) in unrealized appreciation/depreciation from foreign currency contracts”, respectively, on the Statements of Operations. Realized and unrealized foreign exchange gains or losses arising from sales of foreign currencies, currency gains or losses recognized between the trade and settlement dates on investment transactions, and the difference between the amounts of dividends and foreign withholding taxes recorded on the Funds’ books and the U.S. dollar equivalent of the amounts actually received or paid are included in “net realized gain (loss) from foreign currency related transactions” and/or “net increase (decrease) in unrealized appreciation/depreciation from translation of assets and liabilities denominated in foreign currencies” in the Statements of Operations. Certain foreign exchange gains and losses included in realized and unrealized gains or losses are included in, or are a reduction of, ordinary income in accordance with U.S. Federal income tax regulations.

Expenses — Under the investment advisory agreement for each Fund, except for Funds that commenced operations on or after March 26, 2013, WTAM has agreed to pay all expenses of the Trust, except for: (i) brokerage expenses and other expenses (such as stamp taxes) connected with the execution of portfolio transactions or in connection with creation and redemption transactions; (ii) legal fees or expenses in connection with any arbitration, litigation or pending or threatened arbitration or litigation, including any settlements in connection therewith; (iii) compensation and expenses of trustees who are not interested persons of the Funds (“Independent Trustees”); (iv) compensation and expenses of counsel to the Independent Trustees; (v) compensation and expenses of the Trust’s Chief Compliance Officer (“CCO”); (vi) extraordinary expenses; (vii) distribution fees and expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act; and (viii) the advisory fee payable to WTAM.

Under the investment advisory agreement for Funds that commenced operations on or after March 26, 2013, WTAM has agreed to pay all expenses of the Trust, except for: (i) brokerage expenses and other fees, charges, taxes, levies or expenses (such as stamp taxes) incurred in connection with the execution of portfolio transactions or in connection with creation and redemption transactions (including without limitation any fees, charges, taxes, levies or expenses related to the purchase or sale of an amount of any currency, or the patriation or repatriation of any security or other asset, related to the execution of portfolio transactions or any creation or redemption transactions); (ii) legal fees or expenses in connection with any arbitration, litigation or pending or threatened arbitration or litigation, including any settlements in connection therewith; (iii) compensation and expenses of each Independent Trustee; (iv) compensation and expenses of counsel to the Independent Trustees; (v) compensation and expenses of the Trust’s CCO; (vi) extraordinary expenses (in each case as determined by a majority of the Independent Trustees); (vii) distribution fees and expenses paid by the Trust under any distribution plan adopted pursuant to Rule 12b-1 under the 1940 Act; (viii) interest and taxes of any kind or nature (including, but not limited to, income, excise, transfer and withholding taxes); (ix) fees and expenses related to the provision of securities lending services; and (x) the advisory fee payable to WTAM.

Acquired fund fees and expenses (“AFFEs”) (which are fees and expenses incurred indirectly by a Fund through its investments in certain underlying investment companies) are not operating expenses of the Funds and are not paid by WTAM. Interest expense associated with a short-term loan from a U.S. bank that is incurred in connection with the execution of portfolio rebalancing trades is not paid by WTAM.

Pursuant to a separate contractual arrangement, WTAM arranges for the provision of CCO services with respect to each Fund, and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees. WTAM receives a fee, as shown on the Statements of Operations under “Service fees”, of up to 0.0044% per annum of each Fund’s average daily net assets for providing such services and paying such expenses. WTAM provides CCO services to the Trust.

Foreign Currency Contracts — The Funds may enter into foreign currency contracts to facilitate local securities settlements or to protect against currency exposure. The Funds, other than the Emerging Markets Multifactor Fund, do not expect to engage in currency transactions for the purpose of hedging against currency exposures of the Fund’s assets that are denominated in one or more foreign currencies. The Funds may not enter into such contracts for speculative purposes. During the fiscal year ended March 31, 2023, the Funds, except for the Emerging Markets Multifactor Fund, utilized foreign currency contracts primarily to facilitate foreign security settlements. The Emerging Markets Multifactor Fund utilized foreign currency contracts primarily to offset applicable international currency exposure from certain positions in emerging market equities. A foreign currency contract involves an obligation to purchase or sell a specific currency at a future date, which may be any fixed number of days from the date of the contract agreed upon by the parties, at a price set at the time of the contract. These contracts are principally traded in the inter-bank market conducted directly between currency traders (usually large, commercial banks) and their customers. A foreign currency contract generally does not require an initial margin deposit and no commissions are charged at any stage for trades.

 

WisdomTree Trust      105  


Notes to Financial Statements (continued)

 

Risks may arise upon entering into foreign currency contracts from the potential inability of counterparties to meet the terms of their contracts and from unanticipated movements in the value of foreign currencies relative to the U.S. dollar or each other.

Fluctuations in the value of open foreign currency contracts are recorded for book purposes as unrealized gains or losses on foreign currency contracts by the Funds and are included in “net increase (decrease) in unrealized appreciation/depreciation from foreign currency contracts” on the Statements of Operations. Realized gains and losses on foreign currency contracts include net gains or losses recognized by the Funds on contracts which have settled are included in “net realized gain (loss) from foreign currency contracts on the Statements of Operations.

Futures Contracts — The Emerging Markets ex-State-Owned Enterprises Fund, Emerging Markets High Dividend Fund, Emerging Markets Quality Dividend Growth Fund, Emerging Markets SmallCap Dividend Fund, India Earnings Fund and India ex-State-Owned Enterprises Fund each utilized equity futures contracts on a temporary basis during the fiscal year to obtain market exposure consistent with its investment objective during each Fund’s periodic portfolio rebalance. When a Fund purchases a listed futures contract, it agrees to purchase a specified reference asset (e.g., commodity, currency, equity, digital asset or U.S. Treasury security, collectively herein, “Reference Asset”) at a specified future date. When a Fund sells a listed futures contract, it agrees to sell a specified Reference asset at a future date. The price at which the purchase and sale will take place is fixed when the Fund enters into the contract. A Fund may also cash settle upon the expiration date of a futures contract in which no physical delivery (or receipt) of the specified Reference Asset comprising the futures contract is made. Instead, settlement in cash would occur upon the expiration of the contract, with the cash settlement being the difference between the contract price and the actual price of the specified Reference Asset at the expiration date. The exchange clearing corporation is the ultimate counterparty for all exchange-listed contracts, so credit risk is limited to the creditworthiness of the exchange clearing corporation.

Upon entering into a futures contract, a Fund is required to deliver to a broker an amount of cash and/or U.S. government securities equal to a certain percentage of the contract amount. This amount is known as the “initial margin”. Cash deposited as initial margin, if any, is shown as “Deposits at broker for futures contracts” in the Statement of Assets and Liabilities, and U.S. government securities deposited, if any, are designated in the Schedule of Investments. Subsequent payments, known as “variation margin”, generally are made or received by the Fund each day or at other agreed-upon time periods depending on the fluctuations in the value of the underlying futures contracts, except that in the case of certain futures contracts, variation margin payments may be made or received when the futures contract expires. Variation margin is recorded for financial statement purposes on a daily basis as an unrealized gain or loss on futures until the financial futures contract is closed, at which time the unrealized net gain or loss is reclassified to realized gain or loss on futures. Prior to August 19, 2022, when a Fund purchased or sold a futures contract, the Fund was required to “cover” its position in order to limit the risk associated with the use of leverage and other related risks. To cover its position, a Fund would segregate assets consisting of, or take other measures with respect to, cash or liquid securities that, when added to any amounts deposited with a futures commission merchant as margin, would “cover” its position in a manner consistent with the 1940 Act or the rules and SEC interpretations thereunder. This functioned as a practical limit on the amount of leverage which a Fund could undertake and on the potential increase in the speculative character of a Fund’s outstanding portfolio securities. Effective August 19, 2022, the Funds have adopted a derivatives risk management program to manage the Funds’ derivatives risk. Please see Note 8 “Recent Regulatory Update” for information on new regulations governing the use of derivatives by the Funds.

As of March 31, 2023, there were no open futures contracts in the Funds.

Securities Lending — Each Fund may lend portfolio securities to certain creditworthy borrowers, including the Funds’ securities lending agent. It is the Funds’ policy that, at origination, all loans are secured by collateral of at least 102% of the value of U.S. securities loaned and 105% of the value of foreign securities loaned. Collateral in the form of cash and/or securities issued or guaranteed by the U.S. government or its agencies, equivalent to at least 100% of the market value of securities, is maintained at all times. The cash collateral can be invested in certain money market mutual funds which also have exposure to the fluctuations of the market. The values of the investments of cash collateral for securities on loan along with the obligations to return such collateral are included on the Statements of Assets and Liabilities. The total value of securities received as collateral for securities on loan is included in a footnote following each Schedule of Investments, but is not included within the Statements of Assets and Liabilities because the receiving Fund does not have the right to sell or repledge the securities received as collateral. As compensation for lending its securities, each Fund retains all or a portion of the interest received on investment of cash collateral or receives a fee from the borrower (net of any fee rebates paid to the borrower). The lending agent receives a portion of the income earned by the Funds in connection with the lending program. The net securities lending income earned by the Funds is disclosed on the Statements of Operations. The dividend and interest income earned on the securities loaned is accounted for in the same manner as other dividend and interest income. The borrower pays to the Funds an amount equal to any dividends or interest received on loaned securities. Dividends received while a security is out on loan are not considered Qualified Dividend Income (“QDI”) under the specific criteria issued by the Internal Revenue Service and are subject to taxation at the shareholder’s ordinary income tax rate instead of the lower long-term capital gains tax rate. Lending portfolio securities could result in a loss or delay in recovering each Fund’s securities if the borrower defaults. In the event of a borrower default with respect to the failure to return to each Fund some

 

106   WisdomTree Trust


Notes to Financial Statements (continued)

 

or all of the securities loaned, the securities lending agent shall indemnify each Fund against the failure of the borrower if the value of the collateral received is insufficient to cover the market value of the securities loaned.

Master Netting Arrangements — Codification Topic 210 (“ASC 210”), Balance Sheet, requires disclosures generally intended to (i) help investors and other financial statement users to better assess the effect or potential effect of offsetting arrangements on a company’s financial position, (ii) improve transparency in the reporting of how companies mitigate credit risk, and (iii) facilitate comparisons between those entities that prepare their financial statements on the basis of GAAP and those entities that prepare their financial statements on the basis of international financial reporting standards. ASC 210 requires entities to disclose (i) gross and net information about both instruments and transactions eligible for offset in the financial statements, and (ii) instruments and transactions subject to an agreement similar to a master netting agreement. ASC 210 is limited in scope to the following financial instruments, to the extent they are offset in the financial statements or subject to an enforceable master netting arrangement or similar agreement: (i) recognized derivative instruments accounted for under ASC 815 (Derivatives and Hedging); (ii) repurchase agreements and reverse repurchase agreements; and (iii) securities borrowing and securities lending transactions.

In order to better define its contractual rights and to secure rights that will help a Fund mitigate its counterparty risk, a Fund enters into an International Swaps and Derivatives Association, Inc. Master Agreement (“ISDA Master Agreement”) with its counterparties. An ISDA Master Agreement is a bilateral agreement between a Fund and a counterparty that governs over-the-counter derivatives (“OTC”), such as foreign currency contracts, and typically contains, among other things, collateral posting terms, netting and rights of set-off provisions in the event of a default and/or termination event. Under an ISDA Master Agreement, a Fund may, under certain circumstances, offset with the counterparty certain derivative financial instruments’ payables and receivables to create a single net payment. The provisions of the ISDA Master Agreement typically permit a single net payment in the event of a default (close-out netting) or similar event, including the bankruptcy or insolvency of the counterparty.

Collateral requirements generally differ by type of derivative. Collateral terms are contract-specific for OTC derivatives (e.g., foreign currency contracts, options and certain swaps). To the extent amounts due to a Fund from its derivatives counterparties are not fully collateralized, contractually or otherwise, the Fund bears the risk of loss from a counterparty’s non-performance.

The Funds’ securities lending activities are governed by a Securities Lending Authorization Agreement (“Lending Agreement”) between the Funds and the lending agent. The Lending Agreement authorizes the lending agent to lend qualifying U.S. and foreign securities held by a Fund to approved borrowers (each a “Borrower”). To mitigate borrower risk, a Fund typically receives from a Borrower collateral in the form of U.S. dollar cash and/or securities issued or guaranteed by the U.S. government or its agencies in excess of the market value of the securities loaned. Under the provisions of the Lending Agreement, a Fund shall have, as to the collateral, all of the rights and remedies of a secured party under applicable law. A Fund is exposed to risk of loss if a Borrower defaults on its obligation to return borrowed securities and the value of the collateral a Fund received is insufficient to cover the market value of the securities loaned. Also, the lending agent is permitted to invest the cash collateral it receives from a Borrower into a money market fund which is subject to market fluctuation. Therefore, a Fund is exposed to risk of loss if the value of invested cash collateral is insufficient to satisfy the Fund’s obligation to return the full amount owed to such Borrower. However, in the event of a borrower default with respect to the failure to return to each Fund some or all of the securities loaned, the securities lending agent shall indemnify each Fund against the failure of the borrower if the value of the collateral received is insufficient to cover the market value of the securities loaned.

For financial reporting purposes, the Funds elect to not offset assets and liabilities subject to an ISDA Master Agreement or Lending Agreement, if any, in the Statements of Assets and Liabilities. Therefore, all qualifying transactions are presented on a gross basis in the Statements of Assets and Liabilities. As of March 31, 2023, the impact of netting of assets and liabilities and the offsetting of collateral pledged or received based on contractual netting/set-off provisions in the ISDA Master Agreement and the Lending Agreement are detailed in the following table:

 

     
    Assets     Liabilities  
   

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
         

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
       
Fund   Financial
Instruments
    Collateral
Received
    Net Amount     Financial
Instruments
    Collateral
Posted
    Net Amount  

China ex-State-Owned Enterprises Fund

               

Securities Lending

  $ 29,912,968     $     $ (29,912,968 )1    $     $     $     $     $  

Foreign Currency Contracts

    3                   3                          

Emerging Markets ex-State-Owned Enterprises Fund

               

Securities Lending

    140,454,471             (140,454,471 )1                               

 

WisdomTree Trust      107  


Notes to Financial Statements (continued)

 

     
    Assets     Liabilities  
   

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
         

Gross Amounts
in the
Statements of

Assets and
Liabilities

    Gross Amounts Not Offset
in the Statements of
Assets and Liabilities
       
Fund   Financial
Instruments
    Collateral
Received
    Net Amount     Financial
Instruments
    Collateral
Posted
    Net Amount  

Emerging Markets High Dividend Fund

               

Securities Lending

  $ 252,846,236     $     $ (252,846,236 )1    $     $     $     $     $  

Foreign Currency Contracts

    40                   40                          

Emerging Markets Multifactor Fund

               

Securities Lending

    83,155             (83,155 )1                               

Foreign Currency Contracts

    926       (926                 15,800       (926           14,874  

Emerging Markets Quality Dividend Growth Fund

               

Securities Lending

    2,839,145             (2,839,145 )1                               

Foreign Currency Contracts

                            152                   152  

Emerging Markets SmallCap Dividend Fund

               

Securities Lending

    522,562,240             (522,562,240 )1                               

Global ex-U.S. Quality Dividend Growth Fund

               

Securities Lending

    27,629,610             (27,629,610 )1                               

Foreign Currency Contracts

    2,183                   2,183       9                   9  

Global High Dividend Fund

               

Securities Lending

    9,655,572             (9,655,572 )1                               

Growth Leaders Fund

               

Securities Lending

    268,834             (268,834 )1                               

New Economy Real Estate Fund

               

Securities Lending

    1,865,404             (1,865,404 )1                               

Foreign Currency Contracts

    4                   4       29                   29  
  1

The amount of collateral presented has been limited such that the net amount by counterparty cannot be less than zero.

Short-Term Investments — Each Fund may invest a portion of its assets in high-quality money market instruments on an ongoing basis to provide liquidity or for other reasons. The instruments include short-term obligations issued by the U.S. government, its agencies, non-U.S. government agencies, negotiable certificates of deposit (“CDs”), fixed time deposits and bankers’ acceptances of U.S. and foreign banks and similar institutions, commercial papers, repurchase agreements and money market funds. CDs are short-term negotiable obligations of commercial banks. Time deposits are non-negotiable deposits maintained in banking institutions for specified periods of time at stated interest rates. Banker’s acceptances are time drafts drawn on commercial banks by borrowers, usually in connection with international transactions.

Restricted Securities — Each Fund may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities, if any, is included at the end of each Fund’s Schedule of Investments.

Emerging Market Investments — Investments in securities listed and traded in emerging markets are subject to additional risks that may not be present for U.S. investments or investments in more developed non-U.S. markets. Such risks may include: (i) greater market volatility; (ii) lower trading volume; (iii) greater social, political and economic uncertainty; (iv) governmental controls on foreign investments and limitations on repatriation of invested capital; (v) the risk that companies may be held to lower disclosure, corporate governance, auditing and financial reporting standards than companies in more developed markets; and (vi) the risk that there may be less protection of property rights than in other countries. Emerging markets are generally less liquid and less efficient than developed securities markets.

Tax Information and Dividends and Distributions to Shareholders — It is each Fund’s policy to comply with all requirements of the Internal Revenue Code of 1986, as amended (the “Code”). A portion of the Code, known as subchapter M (“Subchapter M”), addresses the ways by which investment companies and investment trusts may pass income through to shareholders in order to avoid double taxation. Each Fund intends to qualify for and to elect treatment as a separate Regulated Investment Company (“RIC”) under Subchapter M of the Code so that it will not be subject to federal income tax on income and gains that are timely distributed to Fund shareholders. Accordingly, no provision for U.S. federal income taxes is required. In order to qualify for the special tax treatment accorded to RICs and their shareholders, each Fund must, among other things, distribute with respect to each taxable year an amount equal to or greater than the sum of 90% of its investment company taxable income and 90% of its net tax-exempt interest income. There can be no guarantee that a Fund will pay dividends. Taxable net realized gains from investment transactions, reduced by capital loss carryforwards, if any, are declared and distributed to shareholders at least annually. The capital loss carryforward amount, if any, is available to offset future net capital gains. The Funds may occasionally be required to make supplemental

 

108   WisdomTree Trust


Notes to Financial Statements (continued)

 

distributions at some other time during the year. The Trust reserves the right to declare special distributions if, in its reasonable discretion, such action is necessary or advisable to preserve the status of each Fund as a RIC or to avoid imposition of income or excise taxes on undistributed income. Dividends and distributions to shareholders are recorded on the ex-dividend date. The amount of dividends and distributions from net investment income and net realized capital gains is determined in accordance with the requirements of the Code and the U.S. Treasury regulations (i.e., tax basis) which may differ to amounts determined under GAAP (i.e., book basis). These book/tax differences are either considered temporary or permanent in nature. To the extent these differences are permanent in nature, such amounts are reclassified within the components of net assets based on their Federal tax basis treatment; temporary differences do not require reclassification. Dividends and distributions that exceed earnings and profit for tax purposes are reported for tax purposes as a return of capital. The India Earnings Fund has filed an election to treat the Portfolio as a “pass-through” entity for tax purposes.

3. ADVISORY FEES AND OTHER TRANSACTIONS WITH AFFILIATES

WTAM has overall responsibility for the general management and administration of the Trust. WTAM provides an investment program for each Fund. WTAM has arranged for Mellon Investments Corporation (“Mellon”) to provide sub-advisory services to the Funds. Additionally, the Portfolio is also advised by WTAM and is sub-advised by Mellon. Mellon is compensated by WTAM at no additional cost to the Funds or the Portfolio. WTAM also arranges for transfer agency, custody, fund accounting, fund administration, securities lending and all other non-distribution related services necessary for the Funds to operate, which are generally under separate agreements entered into between the Trust on behalf of the Funds and the applicable service provider. Under the investment advisory agreement for each Fund, WTAM agrees to pay all expenses of the Funds, except for certain expenses described in Note 2.

Pursuant to a separate contractual arrangement, as also described in Note 2, WTAM arranges for the provision of CCO services with respect to each Fund, and is liable and responsible for, and administers, payments to the CCO, the Independent Trustees and counsel to the Independent Trustees in exchange for a fee, accrued daily and paid monthly in arrears, of up to 0.0044% per annum of each Fund’s average daily net assets.

WTAM expects to receive annual advisory fees from each Fund, based on a percentage of the Fund’s average daily net assets and, with respect to the India Earnings Fund, based on the average daily net assets of the India Earnings Fund and the Portfolio on a consolidated basis, as shown in the following table:

 

   
Fund   

Advisory

Fee Rate

 

China ex-State-Owned Enterprises Fund

     0.32

Emerging Markets ex-State-Owned Enterprises Fund

     0.32

Emerging Markets High Dividend Fund

     0.63

Emerging Markets Multifactor Fund

     0.48

Emerging Markets Quality Dividend Growth Fund

     0.32

Emerging Markets SmallCap Dividend Fund

     0.58

Global ex-U.S. Quality Dividend Growth Fund

     0.42

Global High Dividend Fund

     0.58

Growth Leaders Fund

     0.20

India Earnings Fund (consolidated)

     0.83

India ex-State-Owned Enterprises Fund

     0.58

New Economy Real Estate Fund

     0.58

Affiliated holdings are investments in entities in which the Fund owns 5% or more of the outstanding voting securities or are investments in entities which are under common ownership or control. Transactions in shares of affiliated ETFs for the fiscal year ended March 31, 2023, as applicable, are included in an “Investment in Affiliates” supplementary table in each applicable Fund’s Schedule of Investments. For these transactions, WTAM voluntarily waives its advisory fees that it would otherwise charge, for each Fund’s investment in affiliated funds. The waivers may be reduced to offset the incremental costs related to these investments (e.g., fund accounting, safekeeping, transaction fees, etc.) that are paid by WTAM out of its advisory fee. The dollar amount of advisory fees waived during the period for the Funds, if any, are included in the Statement of Operations in “Expense waivers”.

 

WisdomTree Trust      109  


Notes to Financial Statements (continued)

 

WTAM and/or WisdomTree (collectively herein, “WT”) may from time to time own shares of a Fund. As of and for the fiscal year ended March 31, 2023, WT held shares of and received distributions from the following Funds, which were purchased through an unaffiliated broker in ordinary brokerage transactions in the secondary market in which the Funds’ shares trade:

     
     At March 31, 2023      For the Fiscal Year Ended
March 31, 2023
 
Fund    Fund Shares
held by WT
     Market Value of
Fund Shares
held by WT
     Dividends and Distributions
paid to WT on Fund
Shares held by WT
 

Emerging Markets ex-State-Owned Enterprises Fund

     1,176      $ 32,740      $ 664  

Emerging Markets High Dividend Fund

     204        7,723        549  

Emerging Markets Quality Dividend Growth Fund

     311        7,035        286  

Emerging Markets SmallCap Dividend Fund

     461        21,109        1,006  

Global ex-U.S. Quality Dividend Growth Fund

     153        5,427        204  

Growth Leaders Fund

     143        4,181        5  

4. CAPITAL SHARE TRANSACTIONS

As of March 31, 2023, there were an unlimited number of $0.001 par value shares of beneficial interest authorized by the Trust. Shares are issued and redeemed by each Fund only in creation units or multiples thereof to an authorized participant (“AP”). Except when aggregated in creation units (“Creation Unit Aggregations”), shares of each Fund are not redeemable. Transactions in shares for each Fund are disclosed in detail in the Statements of Changes in Net Assets. The consideration for the purchase of creation units of a Fund generally consists of the in-kind contribution of a basket of securities (“Deposit Securities”) and/or an amount of cash (“Cash Component”). Creation Unit Aggregations may be created in advance of receipt by a Fund of all or a portion of the applicable Deposit Securities from APs. In these circumstances, the initial deposit received from the AP will have a value greater than the NAV of the applicable Fund’s shares on the date the order is placed in proper form since, in addition to available Deposit Securities, U.S. cash must be deposited by the AP in an amount equal to the sum of (i) the Cash Component, plus (ii) generally between 102%-110%, as directed by the Trust or WTAM, which the Trust or WTAM may change from time to time, of the market value of the undelivered Deposit Securities (the “Additional Cash Deposit”) with the Fund pending delivery of any missing Deposit Securities. The Fund will return any unused portion of the Additional Cash Deposit once all of the missing Deposit Securities have been properly received from the AP or purchased by the Fund. Amounts due to be returned to an AP as of March 31, 2023, if any, is shown in the Statements of Assets and Liabilities in “Payables: Deposit due to authorized participant”. The India Earnings Fund and India ex-State-Owned Enterprises Fund issue and redeem shares on a cash basis only as certain securities markets in which these Funds invest do not permit in-kind transfers of securities. APs purchasing and redeeming creation units may be charged a purchase transaction fee and a redemption transaction fee to offset transfer and other transaction costs associated with the issuance and redemption of creation units.

5. INVESTMENT PORTFOLIO TRANSACTIONS

Purchases and sales of investments (excluding purchases and sales resulting from in-kind capital share transactions and short-term investments) and the cost of purchases and the proceeds from sales resulting from in-kind capital share transactions (excluding short-term investments) for the fiscal year ended March 31, 2023 are shown in the following table. Realized gains and losses on sales resulting from in-kind capital share redemptions, as shown on the Statements of Operations, are not recognized by the Funds for tax purposes.

 

       
                   In-kind Capital Share Transactions  
Fund    Purchases      Sales      Purchases      Sales  

China ex-State-Owned Enterprises Fund

   $ 436,753,348      $ 309,324,549      $ 13,308,340      $ 87,423,255  

Emerging Markets ex-State-Owned Enterprises Fund

     678,972,939        1,074,568,906        6,036,312        235,837,073  

Emerging Markets High Dividend Fund

     1,101,347,023        804,508,254        66,131,525        37,360,020  

Emerging Markets Multifactor Fund

     2,720,089        2,635,602                

Emerging Markets Quality Dividend Growth Fund

     43,078,788        30,716,540        2,750,030        2,545,211  

Emerging Markets SmallCap Dividend Fund

     1,638,516,920        1,283,601,773        120,070,069         

Global ex-U.S. Quality Dividend Growth Fund

     324,129,149        304,919,214        95,872,826        85,651,874  

Global High Dividend Fund

     55,166,550        46,924,935        62,201,315         

Growth Leaders Fund

     2,849,211        2,818,194        790,490        2,339,545  

India Earnings Fund (consolidated)

     391,400,927        422,477,547                

India ex-State-Owned Enterprises Fund

     1,046,152        1,155,019                

New Economy Real Estate Fund

     61,656,996        59,734,710               16,552,451  

 

110   WisdomTree Trust


Notes to Financial Statements (continued)

 

6. FEDERAL INCOME TAXES

At March 31, 2023, the cost of investments (including securities on loan and derivatives) for Federal income tax purposes was as follows:

         
    Investments in Long Securities           Investments in Financial Derivatives1        
Fund   Tax Cost     Gross
Unrealized
Appreciation
    Gross
Unrealized
Depreciation
    Net Unrealized
Appreciation/
(Depreciation)
           Gross
Unrealized
Appreciation
    Gross
Unrealized
Depreciation
   

Net Unrealized
Appreciation/

(Depreciation)

   

Total Net
Unrealized
Appreciation/

(Depreciation)

 

China ex-State-Owned Enterprises Fund

  $ 959,249,427     $ 42,102,013     $ (254,222,974   $ (212,120,961           $ 3     $     $ 3     $ (212,120,958

Emerging Markets ex-State-Owned Enterprises Fund

    2,348,218,308       320,954,821       (458,565,599     (137,610,778                               (137,610,778

Emerging Markets High Dividend Fund

    2,153,710,100       271,297,475       (272,204,802     (907,327             40             40       (907,287

Emerging Markets Multifactor Fund

    2,194,105       208,940       (191,659     17,281                     (4,666     (4,666     12,615  

Emerging Markets Quality Dividend Growth Fund

    82,451,361       14,256,667       (7,139,000     7,117,667                     (152     (152     7,117,515  

Emerging Markets SmallCap Dividend Fund

    2,501,643,333       422,515,444       (162,415,599     260,099,845                                 260,099,845  

Global ex-U.S. Quality Dividend Growth Fund

    501,635,634       78,668,101       (36,925,098     41,743,003               2,183       (9     2,174       41,745,177  

Global High Dividend Fund

    133,003,412       13,908,537       (5,133,297     8,775,240                                 8,775,240  

Growth Leaders Fund

    14,225,721       752,208       (4,550,299     (3,798,091                               (3,798,091

India Earnings Fund (consolidated)

    535,204,041       286,027,375       (20,232,775     265,794,600                                 265,794,600  

India ex-State Owned Enterprises Fund

    5,316,657       969,590       (246,097     723,493                                 723,493  

New Economy Real Estate Fund

    31,946,048       340,326       (5,879,257     (5,538,931             15       (40     (25     (5,538,956
  1 

Certain financial derivatives may be considered section 1256 contracts under the Code. Each section 1256 contract held at the close of a taxable year shall be treated as sold for its fair market value on the last business day of such taxable year (and any realized gain and loss shall be taken into account for the taxable year). As such, the unrealized appreciation/(depreciation) for financial derivatives on a tax basis may not correspond to the unrealized appreciation/(depreciation) on a GAAP basis. The unrealized appreciation/(depreciation) for financial derivatives on a GAAP basis is located in the respective financial derivatives tables in each Fund’s Schedule of Investments.

At March 31, 2023, the components of total distributable earnings (loss) on a tax-basis were as follows:

 

           
Fund    Undistributed
Ordinary Income
     Undistributed
Capital and Other
Losses
    

Net Unrealized
Appreciation/

(Depreciation)

     Currency and
Other Unrealized
Appreciation/
(Depreciation)
     Total Distributable
Earnings (Loss)
 

China ex-State-Owned Enterprises Fund

   $ 245,382      $ (372,633,555    $ (212,120,961    $ (86,998    $ (584,596,132

Emerging Markets ex-State-Owned Enterprises Fund

     3,545,572        (684,530,835      (137,610,778      (3,108,486      (821,704,527

Emerging Markets High Dividend Fund

     1,887,388        (1,605,711,692      (907,327      (560,576      (1,605,292,207

Emerging Markets Multifactor Fund

     5,050        (1,254,907      17,281        (4,964      (1,237,540

Emerging Markets Quality Dividend Growth Fund

     173,981        (26,764,125      7,117,667        (226,829      (19,699,306

Emerging Markets SmallCap Dividend Fund

     11,967,197        (713,758,798      260,099,845        (261,988      (441,953,744

Global ex-U.S. Quality Dividend Growth Fund

     982,829        (104,004,573      41,743,003        42,475        (61,236,266

Global High Dividend Fund

     254,393        (22,290,608      8,775,240        (3,623      (13,264,598

Growth Leaders Fund

     4,662        (1,683,939      (3,798,091             (5,477,368

India Earnings Fund (consolidated)

            (39,949,080      265,794,600        (18,701,390      207,144,130  

India ex-State-Owned Enterprises Fund

            (270,638      723,493        (99,852      353,003  

New Economy Real Estate Fund

     134,163        (43,966,488      (5,538,931      906        (49,370,350

 

WisdomTree Trust      111  


Notes to Financial Statements (continued)

 

The tax character of distributions paid during the fiscal years ended March 31, 2023 and March 31, 2022, was as follows:

 

     
     Year Ended March 31, 2023      Year Ended March 31, 2022  
Fund    Distributions Paid
from Ordinary
Income*
     Distributions Paid
from Return of
Capital
     Distributions Paid
from Ordinary
Income*
 

China ex-State-Owned Enterprises Fund

   $ 8,628,659      $      $ 10,485,930  

Emerging Markets ex-State-Owned Enterprises Fund

     52,252,500               62,418,244  

Emerging Markets High Dividend Fund

     137,420,525               121,113,777  

Emerging Markets Multifactor Fund

     70,527               134,000  

Emerging Markets Quality Dividend Growth Fund

     3,003,000               2,582,002  

Emerging Markets SmallCap Dividend Fund

     121,656,900               91,424,730  

Global ex-U.S. Quality Dividend Growth Fund

     18,475,318               9,420,001  

Global High Dividend Fund

     4,296,367               2,682,732  

Growth Leaders Fund

     14,235               5,287  

India Earnings Fund (consolidated)

     40,595,106               12,894,200  

India ex-State-Owned Enterprises Fund

     109,258        14,742        1,470  

New Economy Real Estate Fund

     420,750               3,737,023  
  *

Includes short-term capital gains, if any.

At March 31, 2023, for Federal tax purposes, the Funds have capital loss carryforwards available to offset future capital gains as indicated in the following table. The loss carryforward amounts do not have an expiration date and, therefore, can be carried forward indefinitely until utilized. To the extent that these loss carryforwards are utilized, capital gains so offset will not be distributed to shareholders.

 

       
Fund    Short-Term      Long-Term      Capital Loss
Available Total
 

China ex-State-Owned Enterprises Fund

   $ 169,315,173      $ 203,318,382      $ 372,633,555  

Emerging Markets ex-State-Owned Enterprises Fund

     273,151,577        411,379,258        684,530,835  

Emerging Markets High Dividend Fund

     513,864,188        1,091,847,504        1,605,711,692  

Emerging Markets Multifactor Fund

     1,244,176        10,731        1,254,907  

Emerging Markets Quality Dividend Growth Fund

     14,243,144        12,520,981        26,764,125  

Emerging Markets SmallCap Dividend Fund

     436,920,493        276,838,305        713,758,798  

Global ex-U.S. Quality Dividend Growth Fund

     98,694,527        5,310,046        104,004,573  

Global High Dividend Fund

     6,550,488        15,740,120        22,290,608  

Growth Leaders Fund

     1,284,354        399,585        1,683,939  

India Earnings Fund (consolidated)

     39,949,080               39,949,080  

India ex-State-Owned Enterprises Fund

     134,147        136,491        270,638  

New Economy Real Estate Fund

     9,536,913        34,429,575        43,966,488  

Capital losses incurred after October 31 (“post-October capital losses”) and late year ordinary losses incurred after December 31 within the taxable year are deemed to arise on the first business day of each Fund’s next taxable year. At March 31, 2023, the Funds did not have any post-October capital losses or late year ordinary losses to defer.

 

112   WisdomTree Trust


Notes to Financial Statements (continued)

 

During the fiscal year ended March 31, 2023, the amount of capital loss carryforwards used to offset realized gains are shown in the following table:

 

   
Fund    Utilized
Capital Loss
Carryforward
 

China ex-State-Owned Enterprises Fund

   $  

Emerging Markets ex-State-Owned Enterprises Fund

      

Emerging Markets High Dividend Fund

      

Emerging Markets Multifactor Fund

      

Emerging Markets Quality Dividend Growth Fund

      

Emerging Markets SmallCap Dividend Fund

      

Global ex-U.S. Quality Dividend Growth Fund

      

Global High Dividend Fund

      

Growth Leaders Fund

      

India Earnings Fund (consolidated)

     2,206,366  

India ex-State-Owned Enterprises Fund

      

New Economy Real Estate Fund

      

At March 31, 2023, the effect of permanent “book/tax” reclassifications resulted in increases (decreases) to the components of net assets as shown in the following table. The differences are primarily due to redemptions-in-kind.

 

     
Fund    Total
Distributable
Earnings (Loss)
     Paid-in Capital  

China ex-State-Owned Enterprises Fund

   $ (9,660,432    $ 9,660,432  

Emerging Markets ex-State-Owned Enterprises Fund

     (16,017,123      16,017,123  

Emerging Markets High Dividend Fund

     687,752        (687,752

Emerging Markets Multifactor Fund

             

Emerging Markets Quality Dividend Growth Fund

     (398,735      398,735  

Emerging Markets SmallCap Dividend Fund

             

Global ex-U.S. Quality Dividend Growth Fund

     (10,366,809      10,366,809  

Global High Dividend Fund

     (914      914  

Growth Leaders Fund

     504,882        (504,882

India Earnings Fund (consolidated)

     1,722,790        (1,722,790

India ex-State-Owned Enterprises Fund

     25,890        (25,890

New Economy Real Estate Fund

     1,254,421        (1,254,421

GAAP provides guidance on tax provisions that prescribe a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. As of and during the fiscal year ended March 31, 2023, the Funds did not have any liabilities for unrecognized tax benefits relating to uncertain income tax positions they have taken or expect to take in the future. If applicable, the Funds will recognize interest accrued related to unrecognized tax benefits in interest expense and penalties in “Other” expenses on the Statements of Operations. The Funds file tax returns with the Internal Revenue Service, the State of New York, and various other states. Specific to U.S. federal and state taxes, generally, each of the tax years in the four-year period ended March 31, 2023, remains subject to examination by taxing authorities. Specific to foreign countries in which the Funds invest, all open tax years remain subject to examination by taxing authorities in the respective jurisdictions.

As a result of several European Court of Justice (“ECJ”) court cases in certain countries across the European Union (“EU”), certain Funds have filed additional tax reclaims for previously withheld taxes on dividends earned in those countries (“ECJ tax reclaims”). These additional filings are subject to various administrative proceedings by the local jurisdictions’ tax authorities within the EU, as well as a number of related judicial proceedings. Income recognized, if any, for ECJ tax reclaims is reflected as “Other income” in the Statements of Operations and the cost to file these additional ECJ tax reclaims is reflected as “Other fees” in the Statements of Operations. When the ECJ tax reclaim is not “more likely than not” to be sustained assuming examination by tax authorities due to the uncertainty that exists as to the ultimate resolution of these proceedings, the likelihood of receipt of these ECJ tax reclaims, and the potential timing of payment, no amounts are reflected in the financial statements. For U.S. income tax purposes, ECJ tax reclaims received by the Funds, if any, reduce the amounts of foreign taxes Fund shareholders can use as tax credits in their individual income tax returns. In the event that ECJ tax reclaims received by a Fund during the fiscal year exceed foreign withholding taxes paid, and a Fund previously passed foreign tax credits on to its shareholders, a Fund must either amend historic

 

WisdomTree Trust      113  


Notes to Financial Statements (continued)

 

tax reporting to shareholders or enter into a closing agreement with the Internal Revenue Service in order to pay the associated tax liability on behalf of the respective Fund’s shareholders. During the fiscal year ended March 31, 2023, the ECJ tax reclaims received by the Funds did not exceed the foreign withholding taxes of the respective Funds.

7. DEMAND NOTE

On September 16, 2022, the India Earnings Fund entered into a demand note agreement with Bank of America, N.A. which allowed the India Earnings Fund to borrow up to $250,000,000 with a final maturity date of September 29, 2022. During the period from September 16, 2022 through September 20, 2022, the India Earnings Fund had an average outstanding demand note balance of $169,240,000 and a weighted average interest rate of 5.26% per annum. On September 21, 2022, the India Earnings Fund fully repaid amounts borrowed under the demand note and interest expense related to the demand note was $122,039.

8. RECENT REGULATORY UPDATE

Effective August 19, 2022, the Funds have adopted policies and procedures to comply with new regulations issued by the SEC governing the use of derivatives by registered investment companies (“Rule 18f-4”). Rule 18f-4 imposes limits on the amount of derivatives a fund can enter into, eliminates the asset segregation framework used by the Funds prior to August 19, 2022 to comply with Section 18 of the 1940 Act, and requires funds, whose use of derivatives is greater than a limited specified amount, to establish and maintain a comprehensive derivatives risk management program and appoint a derivatives risk manager. Rule 18f-4 has not had a material impact on the Funds’ financial statements.

The fair valuation Rule 2a-5 went into effect on September 8, 2022. The Rule sets forth requirements for determining the fair value

of portfolio securities and establishes a framework focused on process, testing and oversight. The Rule allows fund boards to designate a valuation designee responsible for performing fair value determinations in good faith. WTAM has been designated as the Valuation Designee for the Funds and is responsible for assessing material risks, establishing fair value methodologies, testing the appropriateness and accuracy of the methodologies and overseeing third-party pricing vendors. Under the new fair valuation policies, WTAM is responsible for regular quarterly reporting of any material fair valuation matter, annual reporting on the adequacy of the Valuation Designee’s processes, and the prompt notification to the board of any material impact of the fair value process on portfolio investments.

9. RECENT ACCOUNTING PRONOUNCEMENT

In June 2022, the FASB issued Accounting Standards Update No. 2022-03 (“ASU 2022-03”), Fair Value Measurement (Topic 820) Fair Value Measurement of Equity Securities Subject to Contractual Sales Restrictions. The amendments in ASU 2022-03 clarify that a contractual restriction on a sale of an equity security is not considered a part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. The amendments also clarify that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The amendments in ASU 2022-03 also require the following disclosures for equity securities subject to contractual sale restrictions: (i) the fair value of equity securities subject to contractual sale restrictions reflected in the balance sheet, (ii) the nature and remaining duration of the restriction(s), and (iii) the circumstances that could cause a lapse in the restriction(s). The amendments in ASU 2022-03 are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years for public business entities (early adoption is also permitted). WTAM has evaluated ASU 2022-03 and determined that the adoption of ASU 2022-03 will not have a significant impact on the Trust’s financial statements and related disclosures.

10. ADDITIONAL INFORMATION

Russia’s military invasion of Ukraine initiated in February 2022 and the economic and diplomatic responses by the United States and other countries have led to increased volatility and uncertainty in the financial markets and could continue to adversely affect regional and global economies for the foreseeable future. In response to Russia’s actions, the governments of the United States, the European Union, the United Kingdom, and many other countries collectively imposed heavy and broad-ranging economic sanctions on certain Russian individuals, corporate and banking entities, and other industries and businesses. The sanctions restrict companies from doing business with Russia and Russian companies, prohibit transactions with the Russian central bank and other key Russian financial institutions and entities, ban Russian airlines and ships from using many other countries’ airspace and ports, respectively, and place a freeze on certain Russian assets. The sanctions also removed some Russian banks from the Society for Worldwide Interbank Financial Telecommunications (SWIFT), the electronic network that connects banks globally to facilitate cross-border payments. In addition, the United States has banned oil and other energy imports from Russia, as well as other popular Russian exports, such as diamonds, seafood and vodka. The European Union, the United Kingdom and other countries have also placed restrictions on certain oil, energy and luxury good imports from Russia.

 

114   WisdomTree Trust


Notes to Financial Statements (concluded)

 

These sanctions, as well as other economic consequences related to the invasion, such as additional sanctions, boycotts, changes in consumer or purchaser preferences, or cyberattacks on governments, companies or individuals, may further decrease the value and liquidity of certain Russian securities as well as securities of issuers in other countries that are subject to or otherwise adversely affected by economic sanctions related to Russia’s invasion of Ukraine, including Russian counter measures. To the extent a Fund has exposure to Russian investments or investments in countries affected by the invasion or the sanctions, the Fund’s ability to price, buy, sell, receive or deliver, or receive dividends and interest payments on such investments may be impaired. In certain circumstances, such as when there is no market for a security or other means of valuing or disposing of a security, a Fund may determine to value the affected security at zero. In addition, any exposure a Fund may have to counterparties in Russia or in countries affected by the invasion could negatively affect the Fund’s portfolio. The extent and duration of Russia’s military actions and the repercussions of such actions are impossible to predict, but could result in continued significant market disruptions, including in the oil and natural gas markets, and may negatively affect global supply chains, inflation and global growth. Further, an escalation of the military conflict beyond Ukraine’s borders could result in significant, long-lasting damage to the economies of Eastern and Western Europe as well as the global economy. These and any related events could significantly and adversely affect a Fund’s performance and the value of an investment in the Fund, even in the absence of direct exposure to Russian issuers or issuers in other countries affected by the invasion.

*    *    *    *    *    *

Financial markets around the world may experience extreme volatility, depressed valuations, decreased liquidity and heightened uncertainty and turmoil resulting from major cybersecurity events, geopolitical events (including wars, such as Russia’s invasion of Ukraine, terror attacks, and disruptions to foreign economic and trade relationships), public health emergencies, such as the COVID-19 pandemic, measures to address budget deficits, downgrading of sovereign debt, and public sentiment, among other events. Resulting market volatility, dramatic changes to interest rates, and otherwise unfavorable economic conditions may negatively impact Fund performance or impair a Fund’s ability to achieve its investment objective.

In March 2023, the financial distress of certain financial institutions raised economic concerns over disruption in the U.S. banking system and regarding the solvency of certain financial services firms. There can be no certainty that the actions taken by the U.S. government to strengthen public confidence in the U.S. banking system will be effective in mitigating the effects of financial institution failures on the economy and restoring public confidence in the U.S. banking system.

 

WisdomTree Trust      115  


Report of Independent Registered Public Accounting Firm

 

To the Shareholders of WisdomTree China ex-State-Owned Enterprises Fund, WisdomTree Emerging Markets ex-State-Owned Enterprises Fund, WisdomTree Emerging Markets High Dividend Fund, WisdomTree Emerging Markets Multifactor Fund, WisdomTree Emerging Markets Quality Dividend Growth Fund, WisdomTree Emerging Markets SmallCap Dividend Fund, WisdomTree Global ex-U.S. Quality Dividend Growth Fund, WisdomTree Global High Dividend Fund, WisdomTree Growth Leaders Fund, WisdomTree India Earnings Fund, WisdomTree India ex-State-Owned Enterprises Fund, WisdomTree New Economy Real Estate Fund (formerly, WisdomTree Global ex-U.S. Real Estate Fund) and the Board of Trustees of WisdomTree Trust

Opinion on the Financial Statements

We have audited the accompanying statements of assets and liabilities (consolidated as it relates to WisdomTree India Earnings Fund) of WisdomTree China ex-State-Owned Enterprises Fund, WisdomTree Emerging Markets ex-State-Owned Enterprises Fund, WisdomTree Emerging Markets High Dividend Fund, WisdomTree Emerging Markets Multifactor Fund, WisdomTree Emerging Markets Quality Dividend Growth Fund, WisdomTree Emerging Markets SmallCap Dividend Fund, WisdomTree Global ex-U.S. Quality Dividend Growth Fund, WisdomTree Global High Dividend Fund, WisdomTree Growth Leaders Fund, WisdomTree India Earnings Fund, WisdomTree India ex-State-Owned Enterprises Fund, WisdomTree New Economy Real Estate Fund (formerly, WisdomTree Global ex-U.S. Real Estate Fund), (twelve of the funds constituting WisdomTree Trust (the “Trust”)), including the schedules of investments (consolidated as it relates to WisdomTree India Earnings Fund), as of March 31, 2023, and the related statements of operations and changes in net assets (consolidated as it relates to WisdomTree India Earnings Fund), and the financial highlights (consolidated as it relates to WisdomTree India Earnings Fund) for each of the periods indicated in the table below, and the related notes (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position (consolidated as it relates to WisdomTree India Earnings Fund) of each of the Funds (twelve of the funds constituting WisdomTree Trust) at March 31, 2023, and the results of their operations (consolidated as it relates to WisdomTree India Earnings Fund), changes in net assets (consolidated as it relates to WisdomTree India Earnings Fund) and financial highlights (consolidated as it relates to WisdomTree India Earnings Fund) for each of the periods indicated in the table below, in conformity with U.S. generally accepted accounting principles.

 

       
Individual fund constituting the WlsdomTree Trust    Statement of
operations
   Statements of changes
in net assets
   Financial highlights

WisdomTree China ex-State-Owned Enterprises Fund

WisdomTree Emerging Markets ex-State-Owned Enterprises Fund

WisdomTree Emerging Markets High Dividend Fund

WisdomTree Emerging Markets Quality Dividend Growth Fund

WisdomTree Emerging Markets SmallCap Dividend Fund

WisdomTree Global ex-U.S. Quality Dividend Growth Fund

WisdomTree Global High Dividend Fund

WisdomTree India Earnings Fund

WisdomTree New Economy Real Estate Fund (formerly, WisdomTree Global ex-U.S. Real Estate Fund)

   For the year ended March 31, 2023    For each of the two years in the period ended March 31, 2023    For each of the five years in the period ended March 31, 2023

WisdomTree Emerging Markets Multifactor Fund

   For the year ended March 31, 2023    For each of the two years in the period ended March 31, 2023    For each of the four years in the period ended March 31, 2023 and the period from August 10, 2018 (commencement of operations) through March 31, 2019

WisdomTree Growth Leaders Fund

   For the year ended March 31, 2023    For each of the two years in the period ended March 31, 2023    For each of the three years in the period ended March 31, 2023 and the period from May 22, 2019 (commencement of operations) through March 31, 2020

WisdomTree India ex-State-Owned Enterprises Fund

   For the year ended March 31, 2023    For each of the two years in the period ended March 31, 2023    For each of the three years in the period ended March 31, 2023 and the period from April 4, 2019 (commencement of operations) through March 31, 2020

 

116   WisdomTree Trust


Report of Independent Registered Public Accounting Firm (concluded)

 

Basis for Opinion

These financial statements are the responsibility of the Trust’s management. Our responsibility is to express an opinion on each of the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Trust in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud. The Trust is not required to have, nor were we engaged to perform, an audit of the Trust’s internal control over financial reporting. As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose of expressing an opinion on the effectiveness of the Trust’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of March 31, 2023, by correspondence with the custodian, brokers and others; when replies were not received from brokers, we performed other auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

 

LOGO

We have served as the auditor of one or more WisdomTree investment companies since 2006.

New York, New York

May 30, 2023

 

WisdomTree Trust      117  


Liquidity Risk Management Program (unaudited)

 

The Funds adopted a liquidity risk management program (the “Program”) pursuant to the requirements of Rule 22e-4 (the “Rule”) under the Investment Company Act of 1940, as amended. The Rule requires registered open-end funds, including exchange-traded funds such as the Funds, to establish liquidity risk management programs in order to effectively manage fund liquidity and shareholder redemptions. The Rule is designed to mitigate the risk that a Fund could not meet redemption requests without significantly diluting the interest of remaining investors. The Board has appointed WisdomTree Asset Management, Inc., the investment advisor to the Funds, as the Program Administrator for each Fund’s Program.

The Rule requires the Funds to assess, manage and review their liquidity risk at least annually considering applicable factors such as investment strategy and liquidity during normal and foreseeable stressed conditions, including whether the strategy is appropriate for an open-ended fund and whether the Fund has a relatively concentrated portfolio or large positions in particular issuers. The Funds must also assess their use of borrowings and derivatives, short-term and long-term cash flow projections in normal and stressed conditions, holdings of cash and cash equivalents, and borrowing arrangements and other funding sources.

The Rule also requires the Funds to classify their investments into one of four liquidity categories: highly liquid, moderately liquid, less liquid or illiquid based on the number of days a Fund expects it would take to liquidate the investment, and to review these classifications at least monthly or more often under certain conditions. The periods range from three or fewer business days for a highly liquid investment to greater than seven calendar days for settlement of a less liquid investment. Illiquid investments are those a Fund does not expect to be able to sell or dispose of within seven calendar days without significantly changing the market value of the investment. A Fund is prohibited from acquiring an investment if, after the acquisition, its holdings of illiquid assets will exceed 15% of its net assets. In addition, if a Fund permits redemptions in-kind, the Rule requires the Fund to establish redemption in-kind policies and procedures governing how and when it will engage in such redemptions.

Pursuant to the Rule’s requirements, the Program has been reviewed and approved by the Fund’s Board. Furthermore, the Board has received a written report prepared by the Program Administrator that addresses the operation of the Program, assesses its adequacy and effectiveness and describes any material changes made to the Program. The Program Administrator has monitored the Fund’s liquidity risk and the liquidity classifications of the securities held by the Fund and has determined that the Program is operating effectively.

During the period from January 1, 2022 to December 31, 2022, there were no material changes to the Program and no material liquidity events that impacted the Funds. During the period, the Funds held sufficient highly liquid assets to meet fund redemptions.

Under normal expected foreseeable Fund redemption forecasts and foreseeable stressed Fund redemption forecasts, the Program Administrator believes that the Funds maintain sufficient highly liquid assets to meet Fund redemptions.

 

118   WisdomTree Trust


Trustees and Officers Information (unaudited)

 

Name
and Year of Birth
of Trustee/Officer

 

Position(s) Held with

the Trust, Term of

Office and Length
of Time Served

 

Principal Occupation(s)

During Past 5 Years

  Number of Portfolios in
Fund Complex
Overseen by Trustee/
Officer+
   

Other

Directorships

Held by Trustee

Trustees Who Are Interested Persons of the Trust

Jonathan Steinberg
(1964)
  Trustee, 2005- present; President, 2005-present   Chief Executive Officer, WisdomTree and WisdomTree Asset Management since 2005; President, WisdomTree and WisdomTree Asset Management from 2012 to 2019.     80     Director, WisdomTree and WisdomTree Asset Management.

Trustees Who Are Not Interested Persons of the Trust

David G. Chrencik*
(1948)
  Trustee, 2014-present   Chief Financial Officer of Sarus Indochina Select LP (hedge fund) since 2012; Chief Financial Officer of GeoGreen BioFuels, Inc. (biodiesel fuel producer) from 2010 to 2014; Audit Partner at PricewaterhouseCoopers LLP (public accounting firm) from 1972 to 2009 (includes positions prior to becoming Audit Partner and predecessor firms).     80     None
Joel Goldberg**, ***
(1945)
  Trustee, 2012-present   Attorney, Partner at Stroock & Stroock & Lavan LLP from 2010 to 2018; Attorney, Partner at Willkie Farr & Gallagher LLP from 2006 to 2010.     80     Director, Better Business Bureau (Metropolitan New York, Long Island and the Mid-Hudson Region).
Toni Massaro***
(1955)
  Trustee, 2006-present   Dean Emerita at the University of Arizona James E. Rogers College of Law (“Rogers College of Law”) since 2009 (distinguished Emerita in July 2009); Dean of the Rogers College of Law from 1999 to 2009; Regents’ Professor since 2006; Milton O. Riepe Chair in Constitutional Law since 1997; Professor at the Rogers College of Law since 1990.     80     None

Melinda A. 
Raso Kirstein****

(1955)

  Trustee, 2014-present   Retired since 2004, Merrill Lynch Investment Management, Vice President; Senior Portfolio Manager, Fixed Income Management; Director, Tax Exempt Fund Management.     80     Associate Alumnae of Douglass College, Chair of Investment Committee.
Victor Ugolyn
(1947)
  Trustee, 2006-present; Chairman of the Board, 2006-present   Private Investor, from 2005 to present; President and Chief Executive Officer of William D. Witter, Inc. from 2005 to 2006; Consultant to AXA Enterprise in 2004; Chairman, President and Chief Executive Officer of Enterprise Capital Management (subsidiary of The MONY Group, Inc.) and Enterprise Group of Funds, Chairman of MONY Securities Corporation, and Chairman of the Fund Board of Enterprise Group of Funds from 1991 to 2004.     80     None

 

 

WisdomTree Trust      119  


Trustees and Officers Information (unaudited) (concluded)

 

Name
and Year of Birth
of Trustee/Officer

 

Position(s) Held with

the Trust, Term of

Office and Length
of Time Served

 

Principal Occupation(s)

During Past 5 Years

  Number of Portfolios in
Fund Complex
Overseen by Trustee/
Officer+
   

Other

Directorships

Held by Trustee

Officers of the Trust

Jonathan Steinberg*****

(1964)

 

President, 2005-

present; Trustee, 2005-present

  Chief Executive Officer, WisdomTree and WisdomTree Asset Management since 2005; President, WisdomTree and WisdomTree Asset Management from 2012 to 2019.     80     See Interested
Trustees Table
Above.

David Castano*****

(1971)

  Treasurer, 2013-present   Head of Fund Accounting & Administration, WisdomTree Asset Management, since 2020; Director of Fund Accounting & Administration, Wisdom Tree Asset Management, 2011 to 2020.     80     None

Terry Jane Feld*****

(1960)

  Chief Compliance Officer, 2012-present   Head of U.S. Compliance, WisdomTree Asset Management since 2022; Chief Compliance Officer WisdomTree Asset Management since 2012.     80     None

Joanne Antico*****

(1975)

  Chief Legal Officer and Secretary, 2021-present   General Counsel, WisdomTree Asset Management since 2021; Assistant General Counsel, WisdomTree Asset Management 2016 to 2021; Executive Director and Assistant Secretary, Morgan Stanley Investment Management Inc., 2005 to 2016.     80     None

TJ Darnowski*****

(1984)

  Assistant Secretary, 2021-present   Senior Investment Management Paralegal, WisdomTree Asset Management since 2021; Senior Legal Administrator, Ultimus Fund Solutions, 2019-2021; Assistant Vice President, State Street Bank & Trust Company, 2010 to 2019.     80     None

Clint Martin*****

(1977)

  Assistant Treasurer, 2015-present   Director of Fund Accounting & Administration, WisdomTree Asset Management, since 2020; Fund Manager, Fund Accounting & Administration, WisdomTree Asset Management, 2012 to 2020.     80     None

Angela Borreggine*****

(1964)

  Assistant Secretary, 2021-present   Assistant General Counsel, WisdomTree Asset Management since 2022; Vice President and Senior Counsel, Virtus Investment Partners, 2021-2022; Director, Senior Counsel, Allianz Global Investors, 2007-2021.     80     None

 

+

As of March 31, 2023.

 

*

Chair of the Audit Committee.

 

**

Chair of the Contracts Review Committee.

 

***

Co-Chair of the Governance, Nominating and Compliance Committee.

 

****

Chair of the Investment Committee.

 

*****

Elected by and serves at the pleasure of the Board.

 

120   WisdomTree Trust


Supplemental Information (unaudited)

 

Federal Income Tax Information

The following Federal tax information related to the Funds’ fiscal year ended March 31, 2023, is provided for information purposes only and should not be used for reporting to federal or state revenue agencies. Federal tax information for the calendar year will be reported to you on Form 1099-DIV in January 2024.

Certain dividends paid by the Funds may be subject to a maximum tax rate of 15%, as provided by the Jobs and Growth Tax Relief Reconciliation Act of 2003. Of the distributions paid during the fiscal year ended March 31, 2023, the following represents the maximum amount of ordinary income distributions that may be considered qualified dividend income:

 

   
Fund    Qualified Dividend
Income
 

China ex-State-Owned Enterprises Fund

   $ 5,978,608  

Emerging Markets ex-State-Owned Enterprises Fund

     26,158,724  

Emerging Markets High Dividend Fund

     60,621,536  

Emerging Markets Multifactor Fund

     57,931  

Emerging Markets Quality Dividend Growth Fund

     1,212,994  

Emerging Markets SmallCap Dividend Fund

     54,600,538  

Global ex-U.S. Quality Dividend Growth Fund

     15,166,276  

Global High Dividend Fund

     3,770,366  

Growth Leaders Fund

     14,235  

India Earnings Fund (consolidated)

     18,788,180  

India ex-State-Owned Enterprises Fund

     67,878  

New Economy Real Estate Fund

     202,847  

The Funds intend to elect to pass through to shareholders the credit for taxes paid to foreign countries during the fiscal year ended March 31, 2023. The gross foreign source income and foreign taxes paid are as follows:

 

     
Fund   

Gross Foreign

Income

    

Foreign

Taxes Paid

 

China ex-State-Owned Enterprises Fund

   $ 8,065,500      $ 589,508  

Emerging Markets ex-State-Owned Enterprises Fund

     54,728,980        11,136,682  

Emerging Markets High Dividend Fund

     154,436,590        11,242,058  

Emerging Markets Multifactor Fund

     106,053        13,691  

Emerging Markets Quality Dividend Growth Fund

     3,095,857        417,070  

Emerging Markets SmallCap Dividend Fund

     130,419,663        13,829,527  

Global ex-U.S. Quality Dividend Growth Fund

     20,023,837        1,540,176  

Global High Dividend Fund

             

Growth Leaders Fund

             

India Earnings Fund (consolidated)

     13,678,265        12,781,467  

India ex-State-Owned Enterprises Fund

     37,963        26,864  

New Economy Real Estate Fund

             

 

WisdomTree Trust      121  


Supplemental Information (unaudited) (concluded)

 

The following represents the percentage of dividends paid during the fiscal year ended March 31, 2023, that qualify for the 70% dividends received deduction for corporate shareholders:

 

   
Fund    Dividends-Received
Deduction
 

China ex-State-Owned Enterprises Fund

     0.98

Emerging Markets ex-State-Owned Enterprises Fund

     0.19

Emerging Markets High Dividend Fund

     0.02

Emerging Markets Multifactor Fund

     0.04

Emerging Markets Quality Dividend Growth Fund

      

Emerging Markets SmallCap Dividend Fund

      

Global ex-U.S. Quality Dividend Growth Fund

     0.04

Global High Dividend Fund

     50.12

Growth Leaders Fund

     100.00

India Earnings Fund (consolidated)

      

India ex-State-Owned Enterprises Fund

      

New Economy Real Estate Fund

     0.54

 

122   WisdomTree Trust


General Information (unaudited)

 

Proxy Voting Policies, Procedures and Record

A complete copy of the Proxy Voting Policy may be obtained upon request, at no charge, by calling 1-866-909-WISE (9473) or writing to: WisdomTree Trust, c/o Foreside Fund Services, LLC, Three Canal Plaza Suite 100, Portland, ME, 04101.

The Trust is required to disclose annually the Funds’ complete proxy voting record on Form N-PX covering the most recent 12-month period ended June 30 and to file Form N-PX with the SEC no later than August 31 of each year. The current Form N-PX for the Funds is available at no charge upon request by calling 1-866-909-WISE (9473) or through the SEC’s website at www.sec.gov.

Shareholder Reports and Quarterly Portfolio Disclosure

The Funds file their complete schedule of portfolio holdings with the SEC for their first and third fiscal quarters as an exhibit to their reports on Form N-PORT. Copies of the filings are available, without charge, on the SEC’s website at www.sec.gov and are also available by calling the Trust at 1-866-909-WISE (9473). Copies of the filings may also be obtained, after paying a duplicating fee, by electronic request at the following E-mail address: publicinfo@sec.gov.

Information about each Fund’s portfolio holdings is available daily, without charge, at www.wisdomtree.com/investments.

The Statement of Additional Information (“SAI”) has additional information about the Funds’ Trustees and Officers and is available without charge upon request. Contact your financial representative for a free prospectus or SAI.

Frequency Distribution of Discounts & Premiums

Information about differences between the per share net asset value of each Fund and the market trading price of shares of each Fund are available, without charge, at www.wisdomtree.com/investments.

 

WisdomTree Trust      123  


The WisdomTree Funds are exchange traded funds (“ETFs”) registered with the United States Securities and Exchange Commission as separate series (“Funds”) of WisdomTree Trust (“Trust”). WisdomTree Asset Management, Inc., a wholly owned subsidiary of WisdomTree, Inc., serves as the investment adviser to the Trust. None of the WisdomTree entities are affiliated with Foreside Fund Services, LLC, the Funds’ distributor. WisdomTree, Inc., its affiliates and their independent providers are not liable for any informational errors, incompleteness, delays, or for any actions taken in reliance on information contained herein.

There are risks associated with investing including possible loss of principal. Foreign investing involves special risks, such as risk of loss from currency fluctuation or political or economic uncertainty. Investments in real estate involve additional special risks, such as credit risk, interest rate fluctuations and the effect of varied economic conditions. Funds that focus their investments in one country or region may be significantly impacted by events and developments associated with the region which can adversely affect performance. Funds focusing on a single sector and/or smaller companies generally experience greater price volatility. Investments in emerging, offshore or frontier markets are generally less liquid and less efficient than investments in developed markets and are subject to additional risks, such as risks of adverse governmental regulation and intervention or political developments. Investments in currency involve additional special risks, such as credit risk and interest rate fluctuations. Derivative investments can be volatile and these investments may be less liquid than other securities, and more sensitive to the effect of varied economic conditions. As these Funds can have a high concentration in some issuers the Funds can be adversely impacted by changes affecting such issuers. Dividends are not guaranteed, and a company currently paying dividends may cease paying dividends at any time. Due to the investment strategy of certain Funds they may make higher capital gain distributions than other ETFs. Please read the Fund’s prospectus for specific details regarding the Fund’s risk profile.

Indexes are unmanaged and you cannot invest directly in an index.

Transactions in Fund shares will result in brokerage commissions and will generate tax consequences. Shares may be sold through brokerage accounts, but may be redeemed from the Funds only by Authorized Participants in large creation unit sizes of shares.

This report is intended for the Funds’ shareholders. It may not be distributed to prospective investors unless it is preceded or accompanied by the current prospectus.


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WisdomTree.com/investments

 

WisdomTree Fund shares are distributed by Foreside Fund Services, LLC, in the U.S.

WTGM-7671


Item 2. Code of Ethics.

 

(a)

The registrant, as of the end of the period covered by this report, has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party.

 

(b)

There have been no amendments, during the period covered by this report, to a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, and that relates to any element of the code of ethics description.

 

(c)

The registrant has not granted any waivers, including an implicit waiver, from a provision of the code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party, that relates to one or more of the items set forth in paragraph (b) of this item’s instructions.

 

(d)

The code of ethics is attached hereto as exhibit 13(a)(1).

Item 3. Audit Committee Financial Expert.

The registrant’s Board of Trustees has determined that the registrant has one audit committee financial expert, as that term is defined under Item 3(b) and 3(c), serving on its audit committee. The audit committee financial expert serving on the registrant’s audit committee is David Chrencik, who is an independent trustee of the registrant, as that term is defined under Item 3(a)(2).

.Item 4. Principal Accountant Fees and Services.

Audit Fees

 

(a)

The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years were $1,137,838 for 2023 and $1,062,666 for 2022.

Audit-Related Fees

 

(b)

The aggregate fees billed for each of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item were $0 for 2023 and $0 for 2022.


Tax Fees

 

(c)

The aggregate fees billed for each of the last two fiscal years for professional services rendered by the principal accountant for service fees for analysis of potential Passive Foreign Investment Companies, tax compliance, tax advice, and tax planning were $582,220 for 2023 and $574,052 for 2022.

All Other Fees

 

(d)

The aggregate fees billed for each of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item were $0 for 2023 and $0 for 2022.

 

(e)(1)

Disclose the audit committee’s pre-approval policies and procedures described in paragraph (c)(7) of Rule 2-01 of Regulation S-X.

Per Rule-01(c) (7) (A), the registrant’s audit committee charter provides that the audit committee shall select and approve in advance the retention of independent accountants to annually audit and provide their opinion on the registrant’s financial statements. The audit committee also must approve, prior to appointment, the engagement of the principal accountant to provide other audit services to the registrant or to provide non-audit services to the registrant, its investment adviser, or any entity controlling, controlled by, or under common control with its investment adviser (“adviser/affiliate”) that provides ongoing services to the registrant, if the engagement by the investment adviser or adviser affiliate relates directly to the operations and financial reporting of the registrant. The audit committee also must, prior to appointment of the engagement of the principal accountant, review and approve the fees proposed to be charged to the registrant by the auditors for each audit and non-audit service. The audit committee also must consider whether non-audit services provided by the registrant’s principal accountant to the registrant’s investment adviser, or adviser/affiliate that provides ongoing services to the registrant, are compatible with maintaining the auditor’s independence.

 

(e)(2)

The registrant’s audit committee has approved 100% of services described in each of Items 4(b) through (d) pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

 

(f)

The percentage of hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees was 0%.

 

(g)

The aggregate non-audit fees billed by the registrant’s accountant for services rendered to the registrant, and rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant for each of the last two fiscal years of the registrant was $582,220 for 2023 and $574,052 for 2022.

 

(h)

Not applicable.

 

(i)

Not applicable.

 

(j)

Not applicable.


Item 5. Audit Committee of Listed Registrants.

The registrant is an issuer as defined in Rule 10A-3 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and has a separately designated standing audit committee established in accordance with Section 3(a)(58)A of the Exchange Act. The registrant’s audit committee members are David Chrencik, Melinda Raso Kirstein and Victor Ugolyn.

Item 6. Investments.

 

(a)

Schedule of Investments in securities of unaffiliated issuers as of the close of the reporting period is included as part of the report to shareholders filed under Item 1 of this form.

 

(b)

Not applicable.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable.

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable.

Item 9. 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.

There have been no material changes to the procedures by which the shareholders may recommend nominees to the registrant’s board of trustees, where those changes were implemented after the registrant last provided disclosure in response to the requirements of Item 407(c)(2)(iv) of Regulation S-K (17 CFR 229.407) (as required by Item 22(b)(15) of Schedule 14A (17 CFR 240.14a-101)), or this Item.

Item 11. Controls and Procedures.

 

(a)

The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”) (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)).

 

(b)

There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.


Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

Item 13. Exhibits.

 

(a)(1)   Code of ethics, or any amendment thereto, that is the subject of disclosure required by Item 2 is attached hereto.
(a)(2)   Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto.
(a)(3)   Not applicable.
(a)(4)   Not applicable.
(b)   Certifications pursuant to Rule 30a-2(b) under the 1940 Act and Section 906 of the Sarbanes-Oxley Act of 2002 are attached hereto.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

(Registrant)   WisdomTree Trust
By (Signature and Title)   /s/ Jonathan L. Steinberg
  Jonathan L. Steinberg, President
  (principal executive officer)
Date: June 7, 2023  

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 (Signature and Title)   /s/ Jonathan L. Steinberg
  Jonathan L. Steinberg, President
  (principal executive officer)
Date: June 7, 2023  
By (Signature and Title)   /s/ David Castano
  David Castano, Treasurer
  (principal financial officer)
Date: June 7, 2023