Quarterly Holdings Report
for
Strategic Advisers® Emerging Markets Fund
Offered exclusively to certain managed account clients of Strategic Advisers LLC or its affiliates - not available for sale to the general publicMay 31, 2021
Schedule of Investments May 31, 2021 (Unaudited)
Showing Percentage of Net Assets
Common Stocks - 58.0% | |||
Shares | Value | ||
COMMUNICATION SERVICES - 6.7% | |||
Diversified Telecommunication Services - 0.2% | |||
Hellenic Telecommunications Organization SA | 129,032 | $2,304,363 | |
KT Corp. | 139,121 | 4,223,223 | |
LG Uplus Corp. | 492,777 | 6,591,121 | |
Ooredoo QSC (a) | 18,604 | 35,250 | |
Saudi Telecom Co. | 95,277 | 3,119,796 | |
Telefonica Brasil SA | 266,302 | 2,254,398 | |
Telkom SA Ltd. | 405,832 | 1,432,357 | |
Turk Telekomunikasyon A/S | 189,723 | 152,828 | |
20,113,336 | |||
Entertainment - 0.8% | |||
Bilibili, Inc.: | |||
ADR (a) | 153,926 | 16,497,789 | |
Class Z (a) | 60,340 | 6,297,646 | |
DouYu International Holdings Ltd. ADR (a) | 75,413 | 595,763 | |
FriendTimes, Inc. | 198,000 | 65,057 | |
G-bits Network Technology Xiamen Co. Ltd. (A Shares) | 5,689 | 414,240 | |
HUYA, Inc. ADR (a)(b) | 41,326 | 632,288 | |
IGG, Inc. | 421,000 | 627,087 | |
International Games Systems Co. Ltd. | 187,000 | 6,293,886 | |
NCSOFT Corp. | 7,992 | 6,112,483 | |
NetDragon WebSoft, Inc. | 152,000 | 438,712 | |
NetEase, Inc. ADR | 222,881 | 26,284,356 | |
NHN Entertainment Corp. (a) | 2,843 | 185,283 | |
Perfect World Co. Ltd. (A Shares) | 153,834 | 519,350 | |
Sea Ltd. ADR (a) | 40,246 | 10,191,897 | |
TEN Square Games SA | 1,452 | 171,167 | |
Tencent Music Entertainment Group ADR (a) | 390,400 | 6,144,896 | |
Webzen, Inc. (a) | 16,665 | 479,464 | |
81,951,364 | |||
Interactive Media & Services - 5.4% | |||
Autohome, Inc. ADR Class A | 145,558 | 11,218,155 | |
Baidu.com, Inc. sponsored ADR (a) | 145,613 | 28,579,464 | |
JOYY, Inc. ADR | 75,619 | 5,818,882 | |
Kakao Corp. | 145,340 | 15,917,234 | |
Kuaishou Technology Class B (c) | 163,600 | 4,224,438 | |
Mail.Ru Group Ltd. GDR (Reg. S) (a) | 118,033 | 2,721,841 | |
NAVER Corp. | 120,627 | 38,765,926 | |
Tencent Holdings Ltd. | 5,125,989 | 400,754,484 | |
Tongdao Liepin Group (a) | 1,213,800 | 3,565,906 | |
Yandex NV Series A (a) | 533,667 | 36,043,869 | |
547,610,199 | |||
Media - 0.1% | |||
Astro Malaysia Holdings Bhd | 193,200 | 50,947 | |
Cheil Worldwide, Inc. | 21,770 | 469,998 | |
China South Publishing & Media Group Co. Ltd. (A Shares) | 60,765 | 93,794 | |
Chinese Universe Publishing and Media Group Co. Ltd. (A Shares) | 922,641 | 1,569,029 | |
Focus Media Information Technology Co. Ltd. (A Shares) | 2,367,400 | 3,869,831 | |
MultiChoice Group Ltd. | 293,181 | 2,908,356 | |
PT Surya Citra Media Tbk (a) | 261,700 | 28,854 | |
8,990,809 | |||
Wireless Telecommunication Services - 0.2% | |||
Bharti Airtel Ltd. | 1,917,477 | 13,861,535 | |
SK Telecom Co. Ltd. | 17,971 | 5,132,222 | |
Turkcell Iletisim Hizmet A/S | 594,924 | 1,095,981 | |
VEON Ltd. sponsored ADR (a) | 277,792 | 505,581 | |
20,595,319 | |||
TOTAL COMMUNICATION SERVICES | 679,261,027 | ||
CONSUMER DISCRETIONARY - 11.2% | |||
Auto Components - 0.2% | |||
Anhui Zhongding Sealing Parts Co. Ltd. (A Shares) | 376,840 | 674,577 | |
Apollo Tyres Ltd. (a) | 303,594 | 937,231 | |
CEAT Ltd. (a) | 24,791 | 451,547 | |
Changchun Faway Automobile Components Co. Ltd. (A Shares) | 186,472 | 286,074 | |
Chaowei Power Holdings Ltd. | 68,000 | 24,183 | |
Cheng Shin Rubber Industry Co. Ltd. | 253,000 | 433,072 | |
Chian Hsing Forging Industrial Co. Ltd. | 10,000 | 16,431 | |
DTR Automotive Corp. | 1,408 | 47,777 | |
Fras-Le SA | 12,400 | 27,219 | |
Fuyao Glass Industries Group Co. Ltd. (A Shares) | 1,217,433 | 9,845,142 | |
Hankook Tire Co. Ltd. | 19,715 | 855,689 | |
Huayu Automotive Systems Co. Ltd. (A Shares) | 362,651 | 1,374,662 | |
Hyundai Mobis | 14,028 | 3,507,063 | |
MAHLE Metal Leve SA | 72,228 | 382,503 | |
Mando Corp. (a) | 4,875 | 284,453 | |
Nexteer Auto Group Ltd. | 179,000 | 225,569 | |
Ningbo Huaxiang Electronic Co. Ltd. (A Shares) | 172,086 | 454,508 | |
Somboon Advance Technology PCL unit | 71,100 | 47,324 | |
Sri Trang Agro-Industry PCL | 1,675,800 | 2,359,526 | |
Tianneng Power International Ltd. (b) | 1,495,826 | 2,694,487 | |
Yoo Sung Enterprise | 12,624 | 44,649 | |
24,973,686 | |||
Automobiles - 1.2% | |||
Bajaj Auto Ltd. | 238,049 | 13,802,109 | |
BYD Co. Ltd. (H Shares) | 200,500 | 4,608,195 | |
Dongfeng Motor Group Co. Ltd. (H Shares) | 2,272,000 | 2,160,492 | |
Ford Otomotiv Sanayi A/S | 6,568 | 131,885 | |
Great Wall Motor Co. Ltd. (H Shares) | 4,800,000 | 13,328,351 | |
Hero Motocorp Ltd. | 173,980 | 7,185,833 | |
Hyundai Motor Co. | 72,837 | 15,169,199 | |
Kia Corp. | 341,756 | 25,984,967 | |
Li Auto, Inc. ADR (a) | 95,900 | 2,234,470 | |
Loncin Motor Co. Ltd. | 295,300 | 161,830 | |
Maruti Suzuki India Ltd. | 108,702 | 10,460,485 | |
PT Astra International Tbk | 8,451,700 | 3,046,990 | |
SAIC Motor Corp. Ltd. (A Shares) | 1,086,913 | 3,478,313 | |
Tofas Turk Otomobil Fabrikasi A/S | 121,331 | 409,359 | |
UMW Holdings Bhd | 79,400 | 60,892 | |
XPeng, Inc. ADR (a)(b) | 555,800 | 17,857,854 | |
120,081,224 | |||
Distributors - 0.0% | |||
Baazeem Trading Co. | 31,826 | 834,210 | |
Inter Cars SA | 261 | 27,687 | |
Xinhua Winshare Publishing and Media Co. Ltd. | 178,000 | 130,044 | |
991,941 | |||
Diversified Consumer Services - 0.3% | |||
Human Soft Holding Co. KSCC | 33,306 | 400,070 | |
New Oriental Education & Technology Group, Inc. sponsored ADR | 1,933,271 | 19,777,362 | |
TAL Education Group ADR (a) | 71,746 | 2,867,688 | |
Visang Education, Inc. | 8,025 | 77,802 | |
YDUQS Participacoes SA | 1,144,898 | 7,295,520 | |
30,418,442 | |||
Hotels, Restaurants & Leisure - 0.7% | |||
Huazhu Group Ltd. ADR (a) | 147,479 | 8,431,374 | |
Jiumaojiu International Holdings Ltd. (c) | 514,000 | 2,019,998 | |
Jubilant Foodworks Ltd. (a) | 38,303 | 1,650,260 | |
MakeMyTrip Ltd. (a) | 45,188 | 1,242,670 | |
Sands China Ltd. (a) | 2,080,722 | 9,531,068 | |
Shangri-La Asia Ltd. (a) | 3,476,000 | 3,242,696 | |
Songcheng Performance Development Co. Ltd. (A Shares) | 1,585,760 | 4,449,710 | |
Yum China Holdings, Inc. | 521,859 | 35,298,543 | |
Yum China Holdings, Inc. (Hong Kong) | 16,250 | 1,078,322 | |
66,944,641 | |||
Household Durables - 1.2% | |||
Arcelik A/S | 120,594 | 450,234 | |
Coway Co. Ltd. | 2,912 | 212,261 | |
Ecovacs Robotics Co. Ltd. Class A (a) | 182,121 | 5,059,203 | |
Gree Electric Appliances, Inc. of Zhuhai (A Shares) | 572,931 | 5,127,087 | |
Guangdong Xinbao Electrical Appliances Holdings Co. Ltd. | 88,300 | 450,346 | |
Haier Smart Home Co. Ltd. (A Shares) | 2,941,022 | 14,168,481 | |
Hisense Home Appliances Group Co. Ltd. (H Shares) | 27,000 | 40,565 | |
KingClean Electric Co. Ltd. (A Shares) | 28,000 | 231,707 | |
LG Electronics, Inc. | 148,700 | 20,223,029 | |
Midea Group Co. Ltd. (A Shares) | 4,061,401 | 52,632,910 | |
Oppein Home Group, Inc. (A Shares) | 197,532 | 4,559,886 | |
Orient Electric Ltd. | 16,547 | 69,062 | |
Q Technology (Group) Co. Ltd. | 192,000 | 328,539 | |
Skyworth Group Ltd. (a) | 2,127,457 | 605,816 | |
TCL Electronics Holdings Ltd. | 591,000 | 395,985 | |
Viomi Technology Co. Ltd. ADR Class A (a)(b) | 53,440 | 435,536 | |
Zhejiang Supor Cookware Co. Ltd. | 1,067,907 | 12,279,824 | |
117,270,471 | |||
Internet & Direct Marketing Retail - 5.8% | |||
Alibaba Group Holding Ltd. (a) | 1,718,060 | 45,950,398 | |
Alibaba Group Holding Ltd. sponsored ADR (a) | 1,202,302 | 257,244,536 | |
B2W Companhia Global do Varejo (a) | 568,746 | 6,535,717 | |
Baozun, Inc.: | |||
Class A (a) | 62,000 | 721,501 | |
sponsored ADR (a)(b) | 33,537 | 1,163,399 | |
Cango, Inc. ADR (b) | 66,952 | 384,974 | |
Coupang, Inc. Class A (a)(b) | 213,030 | 8,689,494 | |
JD Health International, Inc. (c) | 936,150 | 12,834,383 | |
JD.com, Inc.: | |||
Class A | 5,900 | 217,561 | |
sponsored ADR (a) | 1,215,818 | 89,897,583 | |
Leju Holdings Ltd. ADR (a) | 9,926 | 20,249 | |
Meituan Class B (a)(c) | 1,282,100 | 43,811,017 | |
MercadoLibre, Inc. (a) | 11,384 | 15,467,099 | |
momo.com, Inc. | 39,000 | 1,760,500 | |
Naspers Ltd. Class N | 246,803 | 54,402,040 | |
Ozon Holdings PLC ADR | 50,343 | 2,671,703 | |
Pinduoduo, Inc. ADR (a) | 67,200 | 8,391,936 | |
Prosus NV | 44,750 | 4,636,256 | |
Tongcheng-Elong Holdings Ltd. (a) | 2,952,400 | 7,931,753 | |
Trip.com Group Ltd. ADR (a) | 466,309 | 19,515,032 | |
Vipshop Holdings Ltd. ADR (a) | 240,725 | 5,567,969 | |
587,815,100 | |||
Leisure Products - 0.0% | |||
Xiamen Comfort Science & Technology Group Co. Ltd. (A Shares) | 110,100 | 296,498 | |
Multiline Retail - 0.2% | |||
Lojas Renner SA | 2,042,506 | 18,588,188 | |
Magazine Luiza SA | 1,015,639 | 3,946,254 | |
22,534,442 | |||
Specialty Retail - 0.5% | |||
China Yongda Automobiles Services Holdings Ltd. | 2,539,000 | 4,475,450 | |
EEKA Fashion Holdings Ltd. | 56,500 | 76,586 | |
Foschini Ltd. (a) | 261,513 | 2,531,209 | |
Lewis Group Ltd. | 11,913 | 29,737 | |
LOTTE Hi-Mart Co. Ltd. | 289 | 10,131 | |
LX Holdings Corp. (a) | 29,099 | 319,990 | |
Motus Holdings Ltd. | 30,409 | 208,695 | |
Mr Price Group Ltd. | 608,009 | 10,226,684 | |
Pepco Group NV (a)(c) | 526,207 | 6,389,912 | |
Pop Mart International Group Ltd. (b)(c) | 172,000 | 1,471,582 | |
Saudi Co. for Hardware CJSC | 38,872 | 726,599 | |
SSI Group, Inc. (a) | 143,000 | 3,532 | |
United Electronics Co. | 62,978 | 2,038,672 | |
Zhongsheng Group Holdings Ltd. Class H | 2,455,000 | 20,419,056 | |
48,927,835 | |||
Textiles, Apparel & Luxury Goods - 1.1% | |||
adidas AG | 5,556 | 2,028,175 | |
Anta Sports Products Ltd. | 556,000 | 11,211,844 | |
CECEP COSTIN New Materials Group Ltd. (a)(d) | 741,000 | 28,644 | |
China Lilang Ltd. | 55,756 | 35,562 | |
ECLAT Textile Co. Ltd. | 344,000 | 8,062,403 | |
Fila Holdings Corp. | 7,576 | 373,366 | |
Huvis Corp. | 9,132 | 86,075 | |
Hyosung TNC Co. Ltd. | 5,797 | 3,694,743 | |
JNBY Design Ltd. | 295,720 | 552,506 | |
KPR Mill Ltd. | 2,740 | 60,321 | |
LG Fashion Corp. | 7,144 | 129,223 | |
Li Ning Co. Ltd. | 5,159,500 | 47,467,214 | |
Pou Chen Corp. | 787,000 | 1,087,095 | |
Shenzhou International Group Holdings Ltd. | 1,278,100 | 33,691,260 | |
Taiwan Paiho Ltd. | 65,000 | 221,354 | |
Vardhman Textiles Ltd. (a) | 183 | 3,223 | |
Weiqiao Textile Co. Ltd. (H Shares) | 139,556 | 36,863 | |
Welspun India Ltd. (a) | 83,379 | 103,893 | |
Zhejiang Semir Garment Co. Ltd. (A Shares) | 431,700 | 811,420 | |
109,685,184 | |||
TOTAL CONSUMER DISCRETIONARY | 1,129,939,464 | ||
CONSUMER STAPLES - 3.7% | |||
Beverages - 0.9% | |||
Anheuser-Busch InBev SA NV | 76,625 | 5,802,535 | |
Beijing Yanjing Brewery Co. Ltd. (A Shares) | 967,970 | 1,162,768 | |
China Resources Beer Holdings Co. Ltd. | 1,644,000 | 14,573,980 | |
Coca-Cola Icecek Sanayi A/S | 2,813 | 25,533 | |
Fomento Economico Mexicano S.A.B. de CV sponsored ADR | 49,700 | 4,075,400 | |
Heineken NV (Bearer) | 96,467 | 11,544,864 | |
Kweichow Moutai Co. Ltd. (A Shares) | 96,574 | 33,816,974 | |
Thai Beverage PCL | 17,314,300 | 9,099,008 | |
Wuliangye Yibin Co. Ltd. (A Shares) | 147,001 | 7,314,964 | |
87,416,026 | |||
Food & Staples Retailing - 1.0% | |||
Atacadao SA | 1,391,600 | 5,850,290 | |
Bidcorp Ltd. (a) | 59,794 | 1,264,802 | |
Bim Birlesik Magazalar A/S JSC | 463,124 | 3,473,802 | |
Clicks Group Ltd. | 198,405 | 3,735,089 | |
CP ALL PCL (For. Reg.) | 9,288,900 | 18,057,622 | |
Magnit OJSC | 35,834 | 2,645,217 | |
President Chain Store Corp. | 537,000 | 5,080,857 | |
Raia Drogasil SA | 3,359,061 | 17,614,816 | |
Sendas Distribuidora SA | 112,600 | 1,924,810 | |
Shoprite Holdings Ltd. | 809,971 | 8,973,864 | |
Wal-Mart de Mexico SA de CV Series V | 6,816,809 | 21,811,188 | |
X5 Retail Group NV GDR (Reg. S) | 209,148 | 6,253,525 | |
Yifeng Pharmacy Chain Co. Ltd. | 281,799 | 3,792,631 | |
100,478,513 | |||
Food Products - 1.3% | |||
Angel Yeast Co. Ltd. (A Shares) | 1,029,800 | 10,539,910 | |
AVI Ltd. | 402,650 | 2,177,560 | |
BRF SA (a) | 414,500 | 2,047,964 | |
Charoen Pokphand Foods PCL (For. Reg.) | 3,419,800 | 2,982,066 | |
China Feihe Ltd. (c) | 1,230,000 | 3,351,995 | |
China Mengniu Dairy Co. Ltd. | 12,075,496 | 71,417,653 | |
Daesang Corp. | 3,291 | 87,299 | |
Gruma S.A.B. de CV Series B | 250,350 | 2,698,069 | |
Inner Mongoli Yili Industries Co. Ltd. (A Shares) | 148,500 | 945,789 | |
JBS SA | 2,396,329 | 13,849,114 | |
Marfrig Global Foods SA | 274,386 | 960,827 | |
Minerva SA | 62,300 | 117,985 | |
PT Japfa Comfeed Indonesia Tbk | 1,180,600 | 167,772 | |
Sanquan Food Co. Ltd. (A Shares) | 174,064 | 485,424 | |
Tata Consumer Products Ltd. | 130,509 | 1,180,131 | |
Tingyi (Cayman Islands) Holding Corp. | 506,000 | 962,332 | |
Uni-President China Holdings Ltd. | 140,000 | 152,972 | |
Unified-President Enterprises Corp. | 4,947,000 | 13,005,727 | |
Universal Robina Corp. | 1,138,040 | 3,382,203 | |
130,512,792 | |||
Household Products - 0.0% | |||
Hindustan Unilever Ltd. | 79,381 | 2,544,510 | |
Kimberly-Clark de Mexico SA de CV Series A | 427,014 | 770,718 | |
Opple Lighting Co. Ltd. (A Shares) | 57,064 | 251,431 | |
3,566,659 | |||
Personal Products - 0.5% | |||
AMOREPACIFIC Corp. | 19,820 | 5,106,321 | |
Emami Ltd. | 10,684 | 74,248 | |
LG Household & Health Care Ltd. | 17,986 | 24,702,939 | |
Natura & Co. Holding SA (a) | 1,892,358 | 18,532,523 | |
Organic Tea Cosmetics Holdings Co. Ltd. (a) | 4,513 | 3,322 | |
Proya Cosmetics Co. Ltd. (A Shares) | 56,300 | 1,480,523 | |
49,899,876 | |||
Tobacco - 0.0% | |||
ITC Ltd. | 515,754 | 1,516,002 | |
TOTAL CONSUMER STAPLES | 373,389,868 | ||
ENERGY - 2.0% | |||
Energy Equipment & Services - 0.1% | |||
China Oilfield Services Ltd. (H Shares) | 2,918,000 | 2,718,388 | |
Ezion Holdings Ltd. warrants 4/16/23 (a)(d) | 5,020,014 | 5,959 | |
Yantai Jereh Oilfield Services (A Shares) | 1,108,072 | 6,902,396 | |
9,626,743 | |||
Oil, Gas & Consumable Fuels - 1.9% | |||
Anhui Hengyan Coal Industry & Electricity Power Co. Ltd. (A Shares) | 1,480,700 | 1,399,694 | |
China Coal Energy Co. Ltd. (H Shares) | 4,901,000 | 2,974,360 | |
China Merchants Energy Shipping Co. Ltd. (A Shares) | 3,477,300 | 2,921,229 | |
China Petroleum & Chemical Corp. (H Shares) | 33,786,000 | 18,291,127 | |
CNOOC Ltd. | 3,795,000 | 4,156,412 | |
Empresas COPEC SA | 719,063 | 7,155,893 | |
Gazprom OAO sponsored ADR (Reg. S) | 1,005,346 | 7,141,978 | |
Lukoil PJSC | 136,092 | 11,046,596 | |
Lukoil PJSC sponsored ADR | 371,714 | 30,279,822 | |
MOL Hungarian Oil and Gas PLC Series A (For. Reg.) (a) | 60,576 | 486,629 | |
PAO NOVATEK GDR (Reg. S) | 152,465 | 30,409,144 | |
PetroChina Co. Ltd. (H Shares) | 17,166,000 | 7,011,586 | |
Petronet LNG Ltd. | 1,375,049 | 4,571,473 | |
Polish Oil & Gas Co. SA | 135,668 | 243,328 | |
PT Adaro Energy Tbk | 1,702,400 | 139,434 | |
PTT PCL (For. Reg.) | 2,560,600 | 3,216,114 | |
Rabigh Refining & Petrochemical Co. (a) | 803,901 | 4,930,264 | |
Reliance Industries Ltd. | 1,296,668 | 37,501,866 | |
Reliance Industries Ltd. sponsored GDR (c) | 99,000 | 5,707,350 | |
Rosneft Oil Co. OJSC | 925,308 | 6,608,079 | |
Saudi Arabian Oil Co. | 56,753 | 533,443 | |
Susco Public Co. Ltd. unit | 49,300 | 5,080 | |
Tatneft PAO sponsored ADR | 12,634 | 507,381 | |
Tsakos Energy Navigation Ltd. | 3,003 | 27,207 | |
187,265,489 | |||
TOTAL ENERGY | 196,892,232 | ||
FINANCIALS - 11.8% | |||
Banks - 7.7% | |||
Absa Group Ltd. (a) | 1,261,067 | 13,068,886 | |
Agricultural Bank of China Ltd. (H Shares) | 5,158,980 | 2,093,931 | |
Akbank TAS | 136,320 | 82,596 | |
Al Rajhi Bank | 968,750 | 26,606,560 | |
Alpha Bank AE (a) | 891,867 | 1,170,351 | |
AMMB Holdings Bhd | 69,200 | 48,382 | |
Axis Bank Ltd. (a) | 2,023,357 | 20,667,965 | |
Banco do Brasil SA | 449,559 | 2,893,146 | |
Banco Santander Chile sponsored ADR | 441,709 | 9,448,156 | |
Bank Albilad | 198,539 | 2,011,728 | |
Bank Millennium SA (a) | 95,055 | 130,308 | |
Bank of Communications Co. Ltd. (H Shares) | 4,195,703 | 2,832,852 | |
BNK Financial Group, Inc. | 49,906 | 356,158 | |
Capitec Bank Holdings Ltd. | 145,254 | 17,451,771 | |
China CITIC Bank Corp. Ltd. (H Shares) | 4,095,000 | 2,237,215 | |
China Construction Bank Corp. (H Shares) | 63,113,000 | 52,000,492 | |
China Everbright Bank Co. Ltd. (H Shares) | 2,276,900 | 971,091 | |
China Merchants Bank Co. Ltd. (H Shares) | 4,085,500 | 37,744,379 | |
CIMB Group Holdings Bhd | 678,700 | 714,248 | |
Commercial International Bank SAE sponsored GDR (a) | 1,846,692 | 6,426,488 | |
Credicorp Ltd. (United States) | 93,500 | 12,853,445 | |
CTBC Financial Holding Co. Ltd. | 6,055,000 | 5,029,251 | |
DGB Financial Group Co. Ltd. | 16,476 | 139,620 | |
E.SUN Financial Holdings Co. Ltd. | 12,478,340 | 11,445,951 | |
First Abu Dhabi Bank PJSC | 2,913,018 | 13,148,888 | |
Grupo Financiero Banorte S.A.B. de CV Series O | 6,479,375 | 44,306,199 | |
Grupo Financiero Inbursa S.A.B. de CV Series O (a) | 320,573 | 317,225 | |
Gulf Bank | 829,317 | 614,513 | |
Habib Bank Ltd. | 309,900 | 269,270 | |
Hana Financial Group, Inc. | 643,520 | 26,313,162 | |
HDFC Bank Ltd. (a) | 2,188,672 | 45,410,672 | |
HDFC Bank Ltd. sponsored ADR (a) | 222,115 | 16,998,461 | |
ICICI Bank Ltd. (a) | 2,882,358 | 25,657,452 | |
ICICI Bank Ltd. sponsored ADR (a) | 2,026,003 | 36,488,314 | |
Industrial & Commercial Bank of China Ltd. (H Shares) | 56,783,310 | 37,278,801 | |
Kasikornbank PCL NVDR | 2,942,800 | 11,253,267 | |
KB Financial Group, Inc. | 503,643 | 25,835,108 | |
Komercni Banka A/S (a) | 111,281 | 4,098,522 | |
Kotak Mahindra Bank Ltd. (a) | 415,903 | 10,340,154 | |
Malayan Banking Bhd | 1,495,125 | 2,966,015 | |
mBank SA | 648 | 52,876 | |
National Bank of Greece SA (a) | 2,438,800 | 7,375,507 | |
Nedbank Group Ltd. (a) | 181,051 | 2,105,151 | |
Nova Ljubljanska banka d.d. unit (a) | 819,776 | 12,745,867 | |
OTP Bank PLC (a) | 487,980 | 26,811,985 | |
Powszechna Kasa Oszczednosci Bank SA (a) | 223,269 | 2,417,002 | |
PT Bank Bukopin Tbk (a) | 5,600 | 158 | |
PT Bank Central Asia Tbk | 7,603,700 | 16,873,454 | |
PT Bank Mandiri (Persero) Tbk | 41,162,900 | 16,688,537 | |
PT Bank Rakyat Indonesia Tbk | 24,365,500 | 6,942,078 | |
Sberbank of Russia | 358,451 | 1,517,126 | |
Sberbank of Russia: | |||
(Russia) | 4,063,081 | 17,170,582 | |
sponsored ADR | 3,446,325 | 58,156,734 | |
Shinhan Financial Group Co. Ltd. | 596,332 | 22,652,799 | |
Siam Commercial Bank PCL (For. Reg.) | 2,140,000 | 6,984,960 | |
Standard Bank Group Ltd. | 461,482 | 4,458,356 | |
State Bank of India | 2,288,784 | 13,336,757 | |
TCS Group Holding PLC GDR | 282,644 | 21,198,300 | |
The Saudi National Bank | 600,939 | 8,620,897 | |
TISCO Financial Group PCL | 794,800 | 2,276,307 | |
Turkiye Is Bankasi A/S Series C | 895,915 | 533,423 | |
United Bank Ltd. | 397,673 | 333,035 | |
Yapi ve Kredi Bankasi A/S | 208,737 | 52,637 | |
779,025,521 | |||
Capital Markets - 0.4% | |||
Alexander Forbes Group Holdings Ltd. | 888 | 261 | |
B3 SA - Brasil Bolsa Balcao | 6,474,827 | 21,716,518 | |
Hong Kong Exchanges and Clearing Ltd. | 91,000 | 5,597,727 | |
Kiwoom Securities Co. Ltd. | 2,237 | 246,998 | |
Korea Investment Holdings Co. Ltd. | 60,259 | 5,652,764 | |
Noah Holdings Ltd. sponsored ADR (a) | 35,894 | 1,636,049 | |
XP, Inc. Class A(a) | 70,664 | 2,802,534 | |
37,652,851 | |||
Consumer Finance - 0.4% | |||
360 DigiTech, Inc. ADR (a) | 94,896 | 2,663,731 | |
Bajaj Finance Ltd. | 40,051 | 3,102,529 | |
FinVolution Group ADR | 16,626 | 125,028 | |
Gentera S.A.B. de CV (a) | 284,714 | 160,668 | |
Kaspi.KZ JSC: | |||
unit (c) | 61,458 | 5,635,699 | |
unit | 50,411 | 4,622,689 | |
Kruk SA (a) | 4,717 | 331,018 | |
Samsung Card Co. Ltd. | 4,749 | 141,961 | |
Shriram Transport Finance Co. Ltd. | 1,039,639 | 20,885,361 | |
37,668,684 | |||
Diversified Financial Services - 0.5% | |||
Chailease Holding Co. Ltd. | 1,177,160 | 8,905,963 | |
FirstRand Ltd. | 5,309,188 | 21,754,909 | |
Haci Omer Sabanci Holding A/S | 158,162 | 159,348 | |
Rec Ltd. | 914,443 | 1,845,173 | |
Yuanta Financial Holding Co. Ltd. | 16,252,960 | 15,025,668 | |
47,691,061 | |||
Insurance - 2.4% | |||
AIA Group Ltd. | 6,595,784 | 88,029,401 | |
BB Seguridade Participacoes SA | 448,222 | 2,011,611 | |
Cathay Financial Holding Co. Ltd. | 168,000 | 336,716 | |
China Life Insurance Co. Ltd. (H Shares) | 9,340,000 | 19,812,859 | |
China Pacific Insurance (Group) Co. Ltd. (H Shares) | 1,722,400 | 6,535,928 | |
China Taiping Insurance Group Ltd. | 1,238,600 | 2,310,934 | |
Fubon Financial Holding Co. Ltd. | 2,944,000 | 7,654,761 | |
HDFC Standard Life Insurance Co. Ltd. (c) | 112,254 | 1,036,757 | |
Hyundai Fire & Marine Insurance Co. Ltd. | 39,359 | 867,397 | |
ICICI Lombard General Insurance Co. Ltd. (c) | 26,092 | 534,610 | |
PICC Property & Casualty Co. Ltd. (H Shares) | 8,336,000 | 8,130,954 | |
Ping An Insurance Group Co. of China Ltd. (H Shares) | 6,076,500 | 66,374,673 | |
Porto Seguro SA | 367,969 | 3,738,503 | |
Powszechny Zaklad Ubezpieczen SA (a) | 100,037 | 1,004,043 | |
Samsung Fire & Marine Insurance Co. Ltd. | 69,507 | 13,102,991 | |
Samsung Life Insurance Co. Ltd. | 63,215 | 4,721,349 | |
Sanlam Ltd. | 2,396,896 | 10,261,541 | |
Sul America SA unit | 336,794 | 2,248,869 | |
238,713,897 | |||
Thrifts & Mortgage Finance - 0.4% | |||
Housing Development Finance Corp. Ltd. | 961,013 | 33,719,044 | |
LIC Housing Finance Ltd. | 1,548,355 | 9,746,962 | |
43,466,006 | |||
TOTAL FINANCIALS | 1,184,218,020 | ||
HEALTH CARE - 1.9% | |||
Biotechnology - 0.2% | |||
InnoCare Pharma Ltd. (a)(c) | 661,000 | 1,903,561 | |
Innovent Biologics, Inc. (a)(c) | 225,000 | 2,594,738 | |
Remegen Co. Ltd. (H Shares) (a)(c) | 47,500 | 652,437 | |
Zai Lab Ltd. (a) | 73,800 | 12,862,629 | |
18,013,365 | |||
Health Care Equipment & Supplies - 0.4% | |||
Hartalega Holdings Bhd | 823,900 | 1,833,768 | |
Kossan Rubber Industries Bhd | 938,500 | 933,164 | |
Mercator Medical SA | 4,794 | 312,428 | |
Peijia Medical Ltd. (a)(c) | 871,000 | 3,153,642 | |
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. (A Shares) | 400,325 | 30,458,117 | |
Supermax Corp. Bhd | 766,000 | 785,736 | |
Top Glove Corp. Bhd | 1,921,500 | 2,366,139 | |
39,842,994 | |||
Health Care Providers & Services - 0.2% | |||
Apollo Hospitals Enterprise Ltd. (a) | 18,574 | 807,622 | |
Dr Sulaiman Al Habib Medical Services Group Co. | 18,559 | 807,634 | |
Hapvida Participacoes e Investimentos SA (c) | 3,916,321 | 11,985,594 | |
Mediclinic International PLC (a) | 1,383,981 | 6,458,327 | |
National Medical Care Co. (a) | 66,856 | 1,115,975 | |
Neuca SA | 233 | 49,940 | |
Qualicorp Consultoria E Corret | 158,900 | 883,269 | |
Rede D'Oregon Sao Luiz SA (c) | 177,811 | 2,422,354 | |
Shanghai Pharmaceuticals Holding Co. Ltd. (H Shares) | 666,100 | 1,455,637 | |
25,986,352 | |||
Life Sciences Tools & Services - 0.5% | |||
Hangzhou Tigermed Consulting Co. Ltd. (H Shares) (a)(c) | 157,000 | 3,127,498 | |
Pharmaron Beijing Co. Ltd. (H Shares) (c) | 492,300 | 11,589,276 | |
WuXi AppTec Co. Ltd. (H Shares) (c) | 662,256 | 13,712,912 | |
Wuxi Biologics (Cayman), Inc. (a)(c) | 1,379,000 | 20,465,996 | |
48,895,682 | |||
Pharmaceuticals - 0.6% | |||
Aspen Pharmacare Holdings Ltd. (a) | 250,066 | 2,976,749 | |
Aurobindo Pharma Ltd. | 251,212 | 3,545,339 | |
China Medical System Holdings Ltd. | 70,000 | 174,619 | |
Cipla Ltd. (a) | 514,455 | 6,636,491 | |
Consun Pharmaceutical Group Ltd. | 25,517 | 18,577 | |
CSPC Pharmaceutical Group Ltd. | 348,160 | 523,077 | |
Dr. Reddy's Laboratories Ltd. | 32,958 | 2,359,003 | |
Glenmark Pharmaceuticals Ltd. | 6,779 | 56,868 | |
Hansoh Pharmaceutical Group Co. Ltd. (c) | 1,370,000 | 5,843,008 | |
Jiangsu Hengrui Medicine Co. Ltd. (A Shares) | 231,114 | 3,115,561 | |
Richter Gedeon PLC | 948,234 | 26,481,965 | |
Sino Biopharmaceutical Ltd. | 4,051,500 | 4,489,544 | |
Zhejiang Jingxin Pharma Co. Ltd. (A Shares) | 123,120 | 171,677 | |
56,392,478 | |||
TOTAL HEALTH CARE | 189,130,871 | ||
INDUSTRIALS - 2.3% | |||
Air Freight & Logistics - 0.1% | |||
InPost SA | 96,209 | 1,871,287 | |
SF Holding Co. Ltd. (A Shares) | 788,774 | 8,651,445 | |
T3Ex Global Holdings Corp. | 12,787 | 43,268 | |
10,566,000 | |||
Airlines - 0.0% | |||
Azul SA sponsored ADR (a)(b) | 113,766 | 2,811,158 | |
Copa Holdings SA Class A (a) | 16,614 | 1,366,668 | |
4,177,826 | |||
Building Products - 0.1% | |||
Bawan Co. | 67,521 | 694,070 | |
Kajaria Ceramics Ltd. | 28,685 | 378,255 | |
LG Hausys Ltd. | 1,397 | 120,390 | |
Xinyi Glass Holdings Ltd. | 902,000 | 3,527,387 | |
Zhejiang Weixing New Building Materials Co. Ltd. (A Shares) | 302,877 | 1,119,547 | |
5,839,649 | |||
Commercial Services & Supplies - 0.1% | |||
Country Garden Services Holdings Co. Ltd. | 669,502 | 6,793,450 | |
Greentown Service Group Co. Ltd. | 1,494,000 | 2,310,041 | |
UE Furniture Co. Ltd. | 180,000 | 303,561 | |
9,407,052 | |||
Construction & Engineering - 0.3% | |||
Budimex SA | 65 | 5,410 | |
China Railway Group Ltd. (H Shares) | 3,212,993 | 1,697,390 | |
DL E&C Co. Ltd. (a) | 10,891 | 1,310,072 | |
DL Holdings Co. Ltd. | 9,641 | 720,924 | |
Hyundai Engineering & Construction Co. Ltd. | 5,027 | 253,160 | |
Larsen & Toubro Ltd. | 854,863 | 17,445,437 | |
Metallurgical Corp. China Ltd. (H Shares) | 4,158,274 | 1,012,658 | |
Orascom Construction PLC | 1,460 | 7,403 | |
Sinopec Engineering Group Co. Ltd. (H Shares) | 450,000 | 284,696 | |
Tekfen Holding A/S | 384,729 | 683,603 | |
Voltas Ltd. | 372,000 | 5,138,305 | |
28,559,058 | |||
Electrical Equipment - 0.1% | |||
China High Speed Transmission Equipment Group Co. Ltd. | 269,210 | 175,868 | |
DONGYANG E&P, Inc. | 21,665 | 350,069 | |
Graphite India Ltd. (a) | 394,700 | 4,059,803 | |
Harbin Electric Machinery Co. Ltd.(H Shares) | 98,000 | 27,654 | |
Havells India Ltd. | 173,162 | 2,434,022 | |
Hongfa Technology Co. Ltd. (A Shares) | 372,726 | 3,213,155 | |
Jiangsu Zhongtian Technology Co. Ltd. (A Shares) | 209,200 | 339,666 | |
Middle East Specialized Cables Co. (a) | 166,013 | 1,006,636 | |
Weg SA | 563,500 | 3,719,401 | |
15,326,274 | |||
Industrial Conglomerates - 0.2% | |||
Astra Industrial Group | 30,578 | 313,913 | |
CITIC Pacific Ltd. | 3,117,000 | 3,662,854 | |
CJ Corp. | 2,147 | 211,042 | |
Fosun International Ltd. | 1,668,000 | 2,690,843 | |
Hanwha Corp. | 83,235 | 2,372,315 | |
Hong Leong Industries Bhd | 3,000 | 6,909 | |
Koc Holding A/S | 1,258,349 | 2,729,489 | |
LG Corp. | 60,009 | 5,763,984 | |
LT Group, Inc. | 133,500 | 39,396 | |
Mannai Corp. | 86,440 | 87,113 | |
SM Investments Corp. | 335,290 | 6,877,024 | |
24,754,882 | |||
Machinery - 0.6% | |||
Airtac International Group | 40,000 | 1,451,735 | |
China International Marine Containers Group Co. Ltd. (H Shares) | 59,687 | 113,823 | |
Cimc Enric Holdings Ltd. | 184,000 | 168,331 | |
DY POWER Corp. | 5,022 | 82,049 | |
Estun Automation Co. Ltd. (A Shares) (a) | 556,400 | 2,837,741 | |
Grindwell Norton Ltd. | 4,414 | 75,689 | |
Guangxi Liugong Machinery Co. Ltd. (A Shares) | 323,892 | 446,544 | |
Haitian International Holdings Ltd. | 83,000 | 299,985 | |
Hangcha Group Co. Ltd. (A Shares) | 931,361 | 2,883,996 | |
HIWIN Technologies Corp. | 519,003 | 6,906,670 | |
Sany Heavy Industry Co. Ltd. (A Shares) | 512,311 | 2,453,597 | |
Schaeffler India Ltd. | 1,750 | 127,747 | |
Shandong Himile Mechanical Science & Technology Co. Ltd. (A Shares) | 608,100 | 2,799,682 | |
Shenzhen Inovance Technology Co. Ltd. (A Shares) | 350,300 | 5,275,622 | |
Sinotruk Hong Kong Ltd. | 1,442,072 | 3,463,544 | |
Techtronic Industries Co. Ltd. | 418,000 | 7,879,679 | |
Tian Di Science & Technology Co. Ltd. (A Shares) | 473,200 | 261,551 | |
Turk Traktor ve Ziraat Makinalari A/S | 1,531 | 32,977 | |
VST Tillers Tractors Ltd. (a) | 1,336 | 35,243 | |
Weichai Power Co. Ltd.: | |||
(A Shares) | 550,202 | 1,572,401 | |
(H Shares) | 6,055,000 | 14,043,474 | |
Yutong Bus Co. Ltd. | 65,500 | 137,718 | |
Zhejiang Dingli Machinery Co. Ltd. (A Shares) | 491,800 | 5,032,756 | |
Zhejiang Sanhua Intelligent Controls Co. Ltd. (A Shares) | 1,618,500 | 5,606,449 | |
63,989,003 | |||
Marine - 0.2% | |||
COSCO SHIPPING Holdings Co. Ltd. (H Shares) (a) | 451,500 | 943,619 | |
Evergreen Marine Corp. (Taiwan) (a) | 2,006,000 | 6,983,439 | |
Qatar Navigation QPSC | 6,188 | 12,083 | |
Wan Hai Lines Ltd. | 786,000 | 4,385,432 | |
Yang Ming Marine Transport Corp. (a) | 934,000 | 3,642,772 | |
15,967,345 | |||
Professional Services - 0.1% | |||
Anhui Transport Consulting & Design Institute Co. Ltd. (A Shares) | 74,200 | 100,667 | |
Centre Testing International Group Co. Ltd. (A Shares) | 1,191,137 | 6,374,278 | |
Renrui Human Resources Technology Holdings Ltd. | 4,376 | 13,814 | |
Sporton International, Inc. | 404,000 | 3,516,088 | |
10,004,847 | |||
Road & Rail - 0.2% | |||
Globaltrans Investment PLC GDR (Reg. S) | 8,980 | 57,921 | |
Localiza Rent A Car SA | 614,565 | 7,303,981 | |
Rumo SA (a) | 948,300 | 3,799,241 | |
TuSimple Holdings, Inc. (a)(b) | 24,775 | 949,874 | |
United International Transportation Co. | 354,251 | 4,085,423 | |
16,196,440 | |||
Trading Companies & Distributors - 0.1% | |||
BOC Aviation Ltd. Class A (c) | 571,800 | 5,150,024 | |
CCS Supply Chain Management Co. Ltd. A Shares | 88,072 | 79,935 | |
CITIC Resources Holdings Ltd. (a) | 590,000 | 24,707 | |
LG International Corp. | 10,711 | 305,279 | |
5,559,945 | |||
Transportation Infrastructure - 0.2% | |||
Airports of Thailand PCL (For. Reg.) | 2,989,100 | 5,954,287 | |
Grupo Aeroportuario del Sureste S.A.B. de CV: | |||
Series B | 218,240 | 3,840,949 | |
Series B sponsored ADR (a) | 26,843 | 4,741,279 | |
Grupo Aeroportuario Norte S.A.B. de CV (a) | 545,600 | 3,480,741 | |
Zhejiang Expressway Co. Ltd. (H Shares) | 1,226,000 | 1,083,684 | |
19,100,940 | |||
TOTAL INDUSTRIALS | 229,449,261 | ||
INFORMATION TECHNOLOGY - 13.6% | |||
Communications Equipment - 0.1% | |||
Accton Technology Corp. | 649,000 | 6,867,105 | |
Unizyx Holding Corp. (a) | 243,000 | 268,089 | |
7,135,194 | |||
Electronic Equipment & Components - 1.4% | |||
Alviva Holdings Ltd. | 11,198 | 10,482 | |
AU Optronics Corp. (a) | 3,383,000 | 2,848,607 | |
Coretronic Corp. | 106,400 | 221,707 | |
Delta Electronics, Inc. | 584,000 | 6,147,701 | |
FLEXium Interconnect, Inc. | 271,000 | 1,130,349 | |
General Interface Solution Holding Ltd. | 151,000 | 531,671 | |
Goldtek Technology Co. Ltd. | 6,713 | 23,152 | |
Hon Hai Precision Industry Co. Ltd. (Foxconn) | 14,405,626 | 57,745,278 | |
Innolux Corp. | 3,415,000 | 2,750,153 | |
Largan Precision Co. Ltd. | 224,000 | 23,539,778 | |
LG Display Co. Ltd. (a) | 57,396 | 1,207,675 | |
LG Innotek Co. Ltd. | 27,755 | 5,020,407 | |
Redington India Ltd. (a) | 26,941 | 81,738 | |
Samsung Electro-Mechanics Co. Ltd. | 19,944 | 3,007,767 | |
Samsung SDI Co. Ltd. | 28,622 | 16,443,814 | |
Simplo Technology Co. Ltd. | 31,000 | 408,617 | |
Sinher Technology, Inc. | 15,000 | 26,462 | |
Sirtec International Co. Ltd. | 1,000 | 1,053 | |
Sunny Optical Technology Group Co. Ltd. | 86,200 | 2,193,624 | |
Unimicron Technology Corp. | 2,399,000 | 9,053,321 | |
Utechzone Co. Ltd. | 48,000 | 98,111 | |
Wasion Holdings Ltd. | 54,000 | 17,952 | |
Wuxi Lead Intelligent Equipment Co. Ltd. (A Shares) | 216,900 | 3,075,509 | |
Yageo Corp. | 482,600 | 8,539,742 | |
Zhen Ding Technology Holding Ltd. | 444,000 | 1,555,307 | |
145,679,977 | |||
IT Services - 1.2% | |||
Digital China Holdings Ltd. (H Shares) | 653,000 | 443,416 | |
Globant SA (a) | 24,753 | 5,392,936 | |
HCL Technologies Ltd. | 894,695 | 11,642,893 | |
Infosys Ltd. | 1,207,818 | 23,430,135 | |
Infosys Ltd. sponsored ADR | 1,844,481 | 35,672,263 | |
MindTree Consulting Ltd. | 111,574 | 3,628,658 | |
Mphasis BFL Ltd. | 69,476 | 1,857,138 | |
Network International Holdings PLC (a)(c) | 546,301 | 3,091,829 | |
PagSeguro Digital Ltd. (a) | 164,332 | 8,070,345 | |
StoneCo Ltd. Class A (a) | 65,502 | 4,321,167 | |
Tata Consultancy Services Ltd. | 251,324 | 10,907,940 | |
Tech Mahindra Ltd. | 534,394 | 7,571,750 | |
Wipro Ltd. | 1,232,209 | 9,148,195 | |
WNS Holdings Ltd. sponsored ADR (a) | 13,554 | 1,009,773 | |
126,188,438 | |||
Semiconductors & Semiconductor Equipment - 7.1% | |||
A-DATA Technology Co. Ltd. | 245,000 | 893,612 | |
Advanced Analog Technology, Inc. | 51,000 | 135,737 | |
ASE Technology Holding Co. Ltd. | 4,252,000 | 16,930,779 | |
ASML Holding NV (Netherlands) | 4,821 | 3,257,021 | |
ChipMOS TECHNOLOGIES, Inc. | 216,000 | 350,627 | |
Daqo New Energy Corp. ADR (a) | 27,025 | 2,010,120 | |
Elan Microelectronics Corp. | 69,000 | 522,029 | |
eMemory Technology, Inc. | 303,000 | 10,263,768 | |
Everlight Electronics Co. Ltd. | 73,000 | 121,530 | |
FocalTech Systems Co. Ltd. | 39,000 | 280,976 | |
Generalplus Technology, Inc. | 41,000 | 75,660 | |
Global Unichip Corp. | 186,000 | 2,397,963 | |
Himax Technologies, Inc. sponsored ADR (b) | 52,005 | 681,786 | |
King Yuan Electronics Co. Ltd. | 1,089,000 | 1,681,223 | |
LONGi Green Energy Technology Co. Ltd. | 410,780 | 6,272,903 | |
Malaysian Pacific Industries Bhd | 12,286 | 110,570 | |
MediaTek, Inc. | 2,122,000 | 73,642,772 | |
Nanya Technology Corp. | 555,000 | 1,615,435 | |
Novatek Microelectronics Corp. | 448,000 | 8,170,164 | |
Phison Electronics Corp. | 100,000 | 1,684,663 | |
Powertech Technology, Inc. | 638,000 | 2,442,238 | |
Radiant Opto-Electronics Corp. | 462,000 | 1,968,726 | |
Realtek Semiconductor Corp. | 775,000 | 13,909,754 | |
Silergy Corp. | 130,000 | 16,407,858 | |
Silicon Motion Tech Corp. sponsored ADR | 8,585 | 566,352 | |
SK Hynix, Inc. | 670,343 | 75,219,371 | |
Sonix Technology Co. Ltd. | 222,000 | 754,404 | |
Taiwan Semiconductor Manufacturing Co. Ltd. | 18,453,900 | 392,517,041 | |
Taiwan Semiconductor Manufacturing Co. Ltd. sponsored ADR | 497,488 | 58,385,192 | |
United Microelectronics Corp. | 6,620,000 | 12,463,684 | |
Vanguard International Semiconductor Corp. | 1,241,000 | 5,243,473 | |
Winbond Electronics Corp. | 1,281,000 | 1,565,919 | |
712,543,350 | |||
Software - 0.1% | |||
Asseco Poland SA | 16,805 | 334,135 | |
Avast PLC (c) | 555,857 | 3,715,457 | |
Cheetah Mobile, Inc. ADR (b) | 18,586 | 42,004 | |
Cyient Ltd. | 6,044 | 68,163 | |
Kingsoft Corp. Ltd. | 191,000 | 1,289,593 | |
KPIT Engineering Ltd. (a) | 26,644 | 89,243 | |
Ming Yuan Cloud Group Holdings Ltd. | 267,131 | 1,375,083 | |
Nucleus Software Exports Ltd. (a) | 31,536 | 262,045 | |
Oracle Finance Services Software Ltd. | 1,081 | 52,614 | |
7,228,337 | |||
Technology Hardware, Storage & Peripherals - 3.7% | |||
Acer, Inc. | 427,000 | 490,361 | |
ASUSTeK Computer, Inc. | 261,000 | 3,690,062 | |
Avalue Technology, Inc. | 13,000 | 23,661 | |
Chicony Electronics Co. Ltd. | 92,000 | 257,152 | |
Compal Electronics, Inc. | 392,000 | 329,840 | |
Lenovo Group Ltd. | 6,376,000 | 7,681,532 | |
Lite-On Technology Corp. | 1,618,000 | 3,838,886 | |
Micro-Star International Co. Ltd. | 335,000 | 2,014,283 | |
Pegatron Corp. | 496,000 | 1,311,155 | |
Quanta Computer, Inc. | 242,000 | 768,185 | |
Samsung Electronics Co. Ltd. | 4,800,910 | 345,206,279 | |
Wistron Corp. | 377,000 | 415,924 | |
Wiwynn Corp. | 49,000 | 1,608,501 | |
Xiaomi Corp. Class B (a)(c) | 950,200 | 3,501,620 | |
371,137,441 | |||
TOTAL INFORMATION TECHNOLOGY | 1,369,912,737 | ||
MATERIALS - 4.0% | |||
Chemicals - 0.6% | |||
China Risun Group Ltd. Class H (b) | 238,000 | 182,159 | |
China Sanjiang Fine Chemicals Ltd. | 329,000 | 138,198 | |
China XLX Fertiliser Ltd. | 100,000 | 44,582 | |
Formosa Plastics Corp. | 488,000 | 1,788,740 | |
Fufeng Group Ltd. | 179,000 | 59,275 | |
Hansol Chemical Co. Ltd. | 38,207 | 8,574,436 | |
LG Chemical Ltd. | 39,270 | 29,329,647 | |
National Industrialization Co. (a) | 108,426 | 539,492 | |
PhosAgro OJSC GDR (Reg. S) | 54,547 | 1,116,032 | |
Polyplex Corp. Ltd. | 8,102 | 125,535 | |
Sahara International Petrochemical Co. | 48,651 | 378,804 | |
Saudi Basic Industries Corp. | 112,507 | 3,725,983 | |
Saudi Industrial Investment Group | 259,082 | 2,652,823 | |
Shandong Sinocera Functional Material Co. Ltd. (A Shares) | 389,683 | 3,125,590 | |
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares) | 1,096,000 | 273,968 | |
Sociedad Quimica y Minera de Chile SA (PN-B) sponsored ADR | 104,684 | 4,540,145 | |
Solar Industries India Ltd. | 238,700 | 4,629,488 | |
Soulbrain Co. Ltd. | 3,800 | 1,119,212 | |
Taekwang Industrial Co. Ltd. | 168 | 188,815 | |
Unipar Carbocloro SA | 5,600 | 90,473 | |
Yanbu National Petrochemical Co. | 40,171 | 744,453 | |
63,367,850 | |||
Construction Materials - 0.5% | |||
Anhui Conch Cement Co. Ltd. (H Shares) | 1,809,500 | 11,191,486 | |
Arabian Cement Co. | 9,255 | 114,508 | |
Asia Cement (China) Holdings Corp. | 259,584 | 246,844 | |
BBMG Corp. (H Shares) | 504,741 | 98,855 | |
Beijing Oriental Yuhong Waterproof Technology Co. Ltd. (A Shares) | 278,950 | 2,507,677 | |
CEMEX S.A.B. de CV sponsored ADR (a) | 1,894,281 | 15,684,647 | |
China Jushi Co. Ltd. (A Shares) | 1 | 3 | |
China National Building Materials Co. Ltd. (H Shares) | 4,598,442 | 6,091,044 | |
City Cement Co. | 18,035 | 147,637 | |
JK Cement Ltd. (a) | 189,500 | 7,347,148 | |
Tabuk Cement Co. (a) | 55,694 | 297,015 | |
Ultratech Cemco Ltd. | 27,184 | 2,476,510 | |
Yamama Cement Co. (a) | 13,097 | 119,437 | |
46,322,811 | |||
Containers & Packaging - 0.0% | |||
CPMC Holdings Ltd. | 104,000 | 62,446 | |
Greatview Aseptic Pack Co. Ltd. | 37,000 | 17,973 | |
Klabin SA unit (a) | 477,578 | 2,399,940 | |
2,480,359 | |||
Metals & Mining - 2.7% | |||
African Rainbow Minerals Ltd. | 32,510 | 618,129 | |
Angang Steel Co. Ltd. (H Shares) | 1,995,654 | 1,313,996 | |
Anglo American Platinum Ltd. | 37,024 | 4,667,825 | |
AngloGold Ashanti Ltd. | 332,666 | 7,930,994 | |
Ann Joo Resources Bhd (a) | 500 | 306 | |
Baoshan Iron & Steel Co. Ltd. (A Shares) | 6,494,001 | 8,015,019 | |
Barrick Gold Corp. | 565,000 | 13,605,200 | |
China Molybdenum Co. Ltd. (A Shares) | 3,100,700 | 2,794,739 | |
Companhia Siderurgica Nacional SA (CSN) | 178,300 | 1,527,201 | |
Eregli Demir ve Celik Fabrikalari T.A.S. | 11,521 | 25,838 | |
Fangda Special Steel Technology Co. Ltd. (A Shares) | 3,626,000 | 5,221,158 | |
First Quantum Minerals Ltd. | 144,874 | 3,603,712 | |
Gold Fields Ltd. | 197,856 | 2,398,569 | |
Grupa Kety SA | 325 | 52,951 | |
Grupo Mexico SA de CV Series B | 3,676,412 | 17,643,751 | |
Harmony Gold Mining Co. Ltd. | 18,337 | 93,994 | |
Hindalco Industries Ltd. | 1,361,803 | 7,290,337 | |
Hunan Valin Steel Co. Ltd. (A Shares) | 4,101,718 | 4,411,904 | |
Impala Platinum Holdings Ltd. | 1,953,072 | 33,725,904 | |
KGHM Polska Miedz SA (Bearer) | 116,635 | 6,436,894 | |
Korea Zinc Co. Ltd. | 28,522 | 11,803,302 | |
Kumba Iron Ore Ltd. | 93,581 | 4,173,076 | |
Liuzhou Iron & Steel Co. Ltd. Class A | 520,900 | 548,023 | |
MMC Norilsk Nickel PJSC sponsored ADR | 69,975 | 2,506,505 | |
Nanjing Iron & Steel Co. Ltd. | 400,200 | 232,514 | |
Novolipetsk Steel OJSC GDR (Reg. S) | 41,484 | 1,486,787 | |
Polyus PJSC | 8,925 | 1,932,734 | |
Polyus PJSC unit | 21,135 | 2,295,261 | |
POSCO | 68,706 | 22,000,851 | |
POSCO sponsored ADR | 37,060 | 2,968,877 | |
Saudi Arabian Mining Co. (a) | 1,814 | 27,426 | |
SGIS Songshan Co. Ltd. (A Shares) | 632,300 | 495,443 | |
Shanxi Taigang Stainless Steel Co. Ltd. (A Shares) | 784,304 | 820,216 | |
Sibanye Stillwater Ltd. | 2,364,552 | 10,779,365 | |
Southern Copper Corp. | 168,595 | 11,757,815 | |
Tata Steel Ltd. | 632,820 | 9,641,266 | |
Ternium SA sponsored ADR | 299,679 | 10,971,248 | |
Vale SA | 986,100 | 21,113,821 | |
Vale SA sponsored ADR | 1,395,571 | 30,032,688 | |
Welspun Gujarat Stahl Rohren Ltd. (a) | 73,302 | 150,490 | |
Xinyu Iron & Steel Co. Ltd. | 2,900,747 | 2,687,395 | |
269,803,524 | |||
Paper & Forest Products - 0.2% | |||
Duratex SA | 1,829,235 | 7,251,376 | |
Nine Dragons Paper (Holdings) Ltd. | 848,000 | 1,339,597 | |
Suzano Papel e Celulose SA (a) | 1,091,500 | 12,888,484 | |
21,479,457 | |||
TOTAL MATERIALS | 403,454,001 | ||
REAL ESTATE - 0.5% | |||
Equity Real Estate Investment Trusts (REITs) - 0.0% | |||
Concentradora Fibra Danhos SA de CV | 12,699 | 15,104 | |
Link (REIT) | 317,200 | 3,059,235 | |
3,074,339 | |||
Real Estate Management & Development - 0.5% | |||
Agile Property Holdings Ltd. | 3,473,238 | 4,904,932 | |
Ayala Land, Inc. | 11,271,700 | 8,138,837 | |
China Overseas Land and Investment Ltd. | 1,096,000 | 2,654,950 | |
Emaar Properties PJSC (a) | 5,160,248 | 5,661,571 | |
Gemdale Properties and Investment Corp. Ltd. | 628,000 | 92,247 | |
Greenland Holdings Corp. Ltd. (A Shares) | 5,280,363 | 4,792,491 | |
Hang Lung Properties Ltd. | 1,078,000 | 2,784,973 | |
K Wah International Holdings Ltd. | 273,792 | 135,116 | |
KWG Property Holding Ltd. | 1,094,500 | 1,666,945 | |
Longfor Properties Co. Ltd. (c) | 1,097,500 | 6,427,267 | |
Powerlong Real Estate Holding Ltd. | 195,417 | 190,107 | |
Shanghai Shimao Co. Ltd. (A Shares) | 307,015 | 205,853 | |
Shenzhen Investment Ltd. | 608,000 | 217,789 | |
Sun Hung Kai Properties Ltd. | 233,500 | 3,646,510 | |
Sunac China Holdings Ltd. | 670,000 | 2,464,727 | |
Xinyuan Real Estate Co. Ltd. ADR | 2,500 | 5,850 | |
Yuexiu Property Co. Ltd. | 891,445 | 220,538 | |
44,210,703 | |||
TOTAL REAL ESTATE | 47,285,042 | ||
UTILITIES - 0.3% | |||
Electric Utilities - 0.1% | |||
EDP Energias do Brasil SA | 79,500 | 284,490 | |
Equatorial Energia SA | 855,484 | 4,172,612 | |
4,457,102 | |||
Gas Utilities - 0.2% | |||
China Gas Holdings Ltd. | 2,141,200 | 8,138,927 | |
China Tian Lun Gas Holding Ltd. (a) | 178,000 | 187,842 | |
Daesung Energy Co. Ltd. | 20,047 | 114,094 | |
ENN Energy Holdings Ltd. | 591,600 | 10,870,152 | |
Indraprastha Gas Ltd. | 649,141 | 4,603,497 | |
23,914,512 | |||
Independent Power and Renewable Electricity Producers - 0.0% | |||
AES Gener SA | 308,602 | 43,447 | |
Guangdong Baolihua New Energy Stock Co. Ltd. A Shares | 254,700 | 217,569 | |
261,016 | |||
TOTAL UTILITIES | 28,632,630 | ||
TOTAL COMMON STOCKS | |||
(Cost $3,868,121,171) | 5,831,565,153 | ||
Nonconvertible Preferred Stocks - 2.0% | |||
CONSUMER DISCRETIONARY - 0.0% | |||
Automobiles - 0.0% | |||
Hyundai Motor Co. | 44,865 | 4,430,196 | |
CONSUMER STAPLES - 0.1% | |||
Beverages - 0.1% | |||
Ambev SA sponsored ADR | 2,913,700 | 10,081,402 | |
ENERGY - 0.3% | |||
Oil, Gas & Consumable Fuels - 0.3% | |||
Petroleo Brasileiro SA - Petrobras: | |||
(PN) (non-vtg.) | 1,533,900 | 7,943,658 | |
(PN) sponsored ADR (non-vtg.) | 279,120 | 2,877,727 | |
sponsored ADR | 2,081,400 | 21,251,094 | |
32,072,479 | |||
FINANCIALS - 0.9% | |||
Banks - 0.9% | |||
Banco Bradesco SA (PN) | 1,162,823 | 5,921,546 | |
Banco do Estado Rio Grande do Sul SA Class B | 51,110 | 131,411 | |
Itau Unibanco Holding SA | 8,701,136 | 49,468,438 | |
Itau Unibanco Holding SA sponsored ADR | 2,981,508 | 16,994,596 | |
Itausa-Investimentos Itau SA (PN) | 8,303,546 | 17,366,435 | |
Sberbank of Russia | 145,250 | 577,072 | |
Sberbank of Russia (Russia) | 128,031 | 508,662 | |
90,968,160 | |||
INDUSTRIALS - 0.1% | |||
Airlines - 0.1% | |||
Azul SA (a) | 1,176,100 | 9,672,016 | |
INFORMATION TECHNOLOGY - 0.3% | |||
Technology Hardware, Storage & Peripherals - 0.3% | |||
Samsung Electronics Co. Ltd. | 517,427 | 33,535,817 | |
MATERIALS - 0.3% | |||
Chemicals - 0.1% | |||
Braskem SA (PN-A) (a) | 55,700 | 552,971 | |
LG Chemical Ltd. | 11,485 | 3,948,684 | |
4,501,655 | |||
Metals & Mining - 0.2% | |||
Bradespar SA (PN) | 86,400 | 1,159,140 | |
Gerdau SA | 2,864,778 | 17,947,119 | |
Metalurgica Gerdau SA (PN) | 412,500 | 1,161,905 | |
Usinas Siderurgicas de Minas Gerais SA - Usiminas (PN-A) (non-vtg.) | 131,900 | 496,045 | |
20,764,209 | |||
TOTAL MATERIALS | 25,265,864 | ||
UTILITIES - 0.0% | |||
Electric Utilities - 0.0% | |||
Companhia de Transmissao de Energia Eletrica Paulista (PN) | 104,566 | 528,679 | |
Companhia Energetica de Minas Gerais (CEMIG) (PN) | 527,491 | 1,386,616 | |
Companhia Paranaense de Energia-COPEL (PN-B) | 310,000 | 384,846 | |
2,300,141 | |||
TOTAL NONCONVERTIBLE PREFERRED STOCKS | |||
(Cost $170,952,260) | 208,326,075 | ||
Equity Funds - 36.1% | |||
Diversified Emerging Markets Funds - 36.1% | |||
Aberdeen Emerging Markets Fund Institutional Service Class | 10,693,873 | 227,137,854 | |
Brandes Emerging Markets Value Fund Class A | 16,661,342 | 155,117,090 | |
Fidelity Emerging Markets Fund (e) | 14,980,410 | 723,403,953 | |
Fidelity SAI Emerging Markets Index Fund (e) | 22,429,841 | 395,662,392 | |
Fidelity SAI Emerging Markets Low Volatility Index Fund (e) | 50,681,873 | 585,882,454 | |
Fidelity SAI Emerging Markets Value Index Fund (a)(e) | 33,341,794 | 500,793,743 | |
GMO Emerging Markets Fund - Class III | 1,924,381 | 74,242,603 | |
Goldman Sachs Emerging Markets Equity Fund Institutional Shares | 10,110,478 | 322,928,656 | |
Invesco Developing Markets Fund Class R6 | 4,625,320 | 263,966,998 | |
Invesco Emerging Markets Innovators Fund Class R6 | 4,822,957 | 67,087,332 | |
iShares MSCI China ETF (b) | 2,226,845 | 182,244,995 | |
iShares MSCI EM ESG Optimized ETF (b) | 209,609 | 9,380,003 | |
iShares MSCI South Korea Index ETF (b) | 546,222 | 50,268,811 | |
Lazard Emerging Markets Equity Portfolio Open Shares | 842,137 | 17,432,245 | |
Matthews Korea Fund Investor Class | 4,457,127 | 29,595,323 | |
Matthews Pacific Tiger Fund Investor Class | 135 | 4,926 | |
Xtrackers Harvest CSI 300 China ETF Class A (b) | 561,108 | 23,633,869 | |
TOTAL DIVERSIFIED EMERGING MARKETS FUNDS | 3,628,783,247 | ||
Emerging Markets Equity Funds - 0.0% | |||
Calvert Emerging Markets Equity Fund Class A | 45 | 1,040 | |
TOTAL EQUITY FUNDS | |||
(Cost $2,537,328,155) | 3,628,784,287 | ||
Other - 0.1% | |||
Commodity Funds - Broad Basket - 0.1% | |||
Fidelity SAI Inflation-Focused Fund (e) | |||
(Cost $6,768,588) | 858,825 | 10,795,429 | |
Principal Amount | |||
U.S. Treasury Obligations - 0.2% | |||
U.S. Treasury Bills, yield at date of purchase 0% to 0.04% 6/3/21 to 8/26/21 (f) | |||
(Cost $18,349,668) | 18,350,000 | 18,349,785 | |
Money Market Funds - 5.9% | |||
Fidelity Cash Central Fund 0.03% (g) | 4,025,595 | 4,026,400 | |
Fidelity Securities Lending Cash Central Fund 0.03% (g)(h) | 237,818,395 | 237,842,177 | |
State Street Institutional U.S. Government Money Market Fund Premier Class 0.04% (i) | 349,066,352 | 349,066,352 | |
TOTAL MONEY MARKET FUNDS | |||
(Cost $590,934,929) | 590,934,929 | ||
TOTAL INVESTMENT IN SECURITIES - 102.3% | |||
(Cost $7,192,454,771) | 10,288,755,658 | ||
NET OTHER ASSETS (LIABILITIES) - (2.3)% | (231,570,429) | ||
NET ASSETS - 100% | $10,057,185,229 |
Futures Contracts | |||||
Number of contracts | Expiration Date | Notional Amount | Value | Unrealized Appreciation/(Depreciation) | |
Purchased | |||||
Equity Index Contracts | |||||
ICE E-mini MSCI Emerging Markets Index Contracts (United States) | 3,880 | June 2021 | $264,169,800 | $4,975,705 | $4,975,705 |
The notional amount of futures purchased as a percentage of Net Assets is 2.6%
Security Type Abbreviations
ETF – Exchange-Traded Fund
Legend
(a) Non-income producing
(b) Security or a portion of the security is on loan at period end.
(c) Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $186,354,954 or 1.9% of net assets.
(d) Level 3 security
(e) Affiliated Fund
(f) Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $16,866,785.
(g) Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
(h) Investment made with cash collateral received from securities on loan.
(i) The rate quoted is the annualized seven-day yield of the fund at period end.
Affiliated Central Funds
Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:
Fund | Income earned |
Fidelity Cash Central Fund | $960 |
Fidelity Securities Lending Cash Central Fund | 558,230 |
Total | $559,190 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds. Amount for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
Affiliated Underlying Funds
Fiscal year to date information regarding the Fund's investments in affiliated Underlying Funds, excluding any Money Market Central Funds, is presented below. Exchanges between classes of the same affiliated Underlying Funds may occur.
Affiliate | Value, beginning of period | Purchases | Sales Proceeds | Dividend Income | Realized Gain (loss) | Change in Unrealized appreciation (depreciation) | Value, end of period |
Fidelity Emerging Markets Fund | $684,589,409 | $29,999,971 | $-- | $-- | $-- | $8,814,573 | $723,403,953 |
Fidelity SAI Emerging Markets Index Fund | 438,038,233 | -- | 50,000,000 | -- | 17,889,027 | (10,264,868) | 395,662,392 |
Fidelity SAI Emerging Markets Low Volatility Index Fund | 518,268,483 | 27,000,000 | -- | -- | -- | 40,613,971 | 585,882,454 |
Fidelity SAI Emerging Markets Value Index Fund | 323,147,760 | 155,000,000 | -- | -- | -- | 22,645,983 | 500,793,743 |
Fidelity SAI Inflation-Focused Fund | 9,687,545 | -- | -- | -- | -- | 1,107,884 | 10,795,429 |
Total | $1,973,731,430 | $211,999,971 | $50,000,000 | $-- | $17,889,027 | $62,917,543 | $2,216,537,971 |
Amounts in the income column in the above table include any capital gain distributions from underlying funds.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Security transactions are accounted for as of trade date. The Board of Trustees (the Board) has delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events, changes in interest rates and credit quality. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Funds valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee. The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels: Level 1 - quoted prices in active markets for identical investments: Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds etc.): Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available). Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the Fund's investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing vendors or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing vendors who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker supplied prices.
When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing vendors. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
ETFs are valued at their last sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day but the exchange reports a closing bid level, ETFs are valued at the closing bid and would be categorized as Level 1 in the hierarchy. In the event there was no closing bid, ETFs may be valued by another method that the Board believes reflects fair value in accordance with the Board's fair value pricing policies and may be categorized as Level 2 in the hierarchy.
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.
Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value each business day and are categorized as Level 1 in the hierarchy.
If an unaffiliated open-end mutual fund's net asset value is unavailable, shares of that fund may be valued by another method that the Board believes reflects fair value in accordance with the Board's fair value pricing policies and is categorized as Level 2 in the hierarchy.
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
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