NPORT-EX 2 TGSCF.htm
Not
FDIC
Insured
May
Lose
Value
No
Bank
Guarantee
103-Q3PH
1
Schedule
of
Investments
(unaudited)
Templeton
Global
Smaller
Companies
Fund
2
Notes
to
Schedule
of
Investments
6
Templeton
Global
Smaller
Companies
Fund
Schedule
of
Investments
(unaudited),
May
31,
2024
Quarterly
Schedule
of
Investments
See
Notes
to
Schedule
of
Investments.
2
a
a
Industry
Shares
a
Value
a
Common
Stocks
93.8%
Bahamas
2.0%
a
OneSpaWorld
Holdings
Ltd.
........
Diversified
Consumer
Services
1,184,359
$
18,416,782
Belgium
0.9%
Barco
NV
......................
Electronic
Equipment,
Instruments
&
Components
581,204
8,160,354
Brazil
1.0%
Camil
Alimentos
SA
...............
Food
Products
4,832,600
8,807,881
Canada
1.7%
Canaccord
Genuity
Group,
Inc.
......
Capital
Markets
982,700
6,685,476
Canadian
Western
Bank
...........
Banks
455,211
8,462,127
15,147,603
China
1.3%
Haitian
International
Holdings
Ltd.
....
Machinery
2,001,000
6,137,474
Xtep
International
Holdings
Ltd.
......
Textiles,
Apparel
&
Luxury
Goods
8,683,949
6,045,306
12,182,780
Finland
1.3%
Huhtamaki
OYJ
..................
Containers
&
Packaging
288,328
11,619,795
France
0.7%
Kaufman
&
Broad
SA
.............
Household
Durables
178,798
6,460,945
Germany
4.0%
Adesso
SE
.....................
IT
Services
36,474
3,923,143
Gerresheimer
AG
................
Life
Sciences
Tools
&
Services
93,726
10,736,938
Jenoptik
AG
....................
Electronic
Equipment,
Instruments
&
Components
264,567
7,935,185
Rational
AG
....................
Machinery
16,473
14,058,168
36,653,434
Hong
Kong
2.1%
Techtronic
Industries
Co.
Ltd.
.......
Machinery
1,143,790
14,070,721
VTech
Holdings
Ltd.
..............
Communications
Equipment
742,200
5,322,047
19,392,768
Hungary
0.7%
Richter
Gedeon
Nyrt.
.............
Pharmaceuticals
262,517
6,652,478
India
2.4%
CESC
Ltd.
.....................
Electric
Utilities
2,784,368
4,927,172
Exide
Industries
Ltd.
..............
Automobile
Components
2,827,836
16,546,615
21,473,787
Israel
0.2%
Maytronics
Ltd.
..................
Household
Durables
402,036
2,069,665
Italy
6.8%
Brunello
Cucinelli
SpA
.............
Textiles,
Apparel
&
Luxury
Goods
144,209
14,566,612
b
Carel
Industries
SpA
,
144A
,
Reg
S
...
Building
Products
201,236
3,813,169
Interpump
Group
SpA
.............
Machinery
323,981
15,280,895
Sanlorenzo
SpA
.................
Leisure
Products
272,907
12,587,757
b
Technogym
SpA
,
144A
,
Reg
S
......
Leisure
Products
1,563,557
15,849,359
62,097,792
Japan
7.5%
Asics
Corp.
.....................
Textiles,
Apparel
&
Luxury
Goods
284,800
15,821,069
Bunka
Shutter
Co.
Ltd.
............
Building
Products
368,800
4,263,969
Templeton
Global
Smaller
Companies
Fund
Schedule
of
Investments
(unaudited)
See
Notes
to
Schedule
of
Investments.
Quarterly
Schedule
of
Investments
3
a
a
Industry
Shares
a
Value
a
Common
Stocks
(continued)
Japan
(continued)
CKD
Corp.
.....................
Machinery
290,200
$
5,683,979
Idec
Corp.
......................
Electrical
Equipment
221,500
3,903,661
IDOM,
Inc.
.....................
Specialty
Retail
860,300
7,346,423
MEITEC
Group
Holdings,
Inc.
.......
Professional
Services
265,600
5,298,023
Morinaga
&
Co.
Ltd.
..............
Food
Products
239,100
3,824,199
TechnoPro
Holdings,
Inc.
..........
Professional
Services
392,900
6,540,437
Tsumura
&
Co.
..................
Pharmaceuticals
616,800
15,492,068
68,173,828
Mexico
0.5%
a,b
Grupo
Traxion
SAB
de
CV
,
A
,
144A
,
Reg
S
.......................
Ground
Transportation
2,404,809
4,238,273
Netherlands
1.5%
SBM
Offshore
NV
................
Energy
Equipment
&
Services
881,822
13,650,247
New
Zealand
0.3%
c
Summerset
Group
Holdings
Ltd.
.....
Health
Care
Providers
&
Services
544,942
3,185,124
South
Korea
1.6%
BNK
Financial
Group,
Inc.
..........
Banks
871,410
5,344,110
DGB
Financial
Group,
Inc.
..........
Banks
805,029
4,806,340
a
Jeisys
Medical,
Inc.
...............
Health
Care
Equipment
&
Supplies
519,985
4,456,211
14,606,661
Sweden
2.4%
b
Dometic
Group
AB
,
144A
..........
Automobile
Components
1,263,517
8,965,519
b
Thule
Group
AB
,
144A
,
Reg
S
.......
Leisure
Products
417,274
12,596,300
21,561,819
Switzerland
5.5%
Bucher
Industries
AG
.............
Machinery
31,309
12,978,153
c
Logitech
International
SA
..........
Technology
Hardware,
Storage
&
Peripherals
120,892
12,090,409
b
Medacta
Group
SA
,
144A
,
Reg
S
....
Health
Care
Equipment
&
Supplies
70,626
9,593,404
Siegfried
Holding
AG
..............
Life
Sciences
Tools
&
Services
15,877
15,895,504
50,557,470
Taiwan
2.7%
King
Yuan
Electronics
Co.
Ltd.
......
Semiconductors
&
Semiconductor
Equipment
2,678,000
7,314,820
Merida
Industry
Co.
Ltd.
...........
Leisure
Products
1,175,000
8,300,268
Nien
Made
Enterprise
Co.
Ltd.
......
Household
Durables
390,000
4,221,910
Tripod
Technology
Corp.
...........
Electronic
Equipment,
Instruments
&
Components
717,000
4,710,626
24,547,624
Thailand
0.3%
TOA
Paint
Thailand
PCL
...........
Chemicals
3,115,700
1,937,267
TOA
Paint
Thailand
PCL
,
NVDR
.....
Chemicals
605,600
376,547
United
Kingdom
5.6%
Fevertree
Drinks
plc
..............
Beverages
447,141
6,160,416
Greggs
plc
.....................
Hotels,
Restaurants
&
Leisure
294,404
11,073,922
Man
Group
plc
..................
Capital
Markets
4,037,121
13,648,128
Oxford
Instruments
plc
............
Electronic
Equipment,
Instruments
&
Components
198,263
6,317,155
Persimmon
plc
..................
Household
Durables
298,433
5,576,494
Savills
plc
......................
Real
Estate
Management
&
Development
370,962
5,389,818
Templeton
Global
Smaller
Companies
Fund
Schedule
of
Investments
(unaudited)
Quarterly
Schedule
of
Investments
See
Notes
to
Schedule
of
Investments.
4
a
a
Industry
Shares
a
Value
a
Common
Stocks
(continued)
United
Kingdom
(continued)
a,b
Watches
of
Switzerland
Group
plc
,
144A
Specialty
Retail
591,731
$
3,126,804
51,292,737
United
States
40.8%
Academy
Sports
&
Outdoors,
Inc.
....
Specialty
Retail
66,392
3,830,155
Advanced
Drainage
Systems,
Inc.
....
Building
Products
35,645
6,184,051
Alamo
Group,
Inc.
................
Machinery
81,215
15,430,038
a
Avanos
Medical,
Inc.
..............
Health
Care
Equipment
&
Supplies
227,405
4,527,634
Brunswick
Corp.
.................
Leisure
Products
48,682
4,017,725
Columbia
Sportswear
Co.
..........
Textiles,
Apparel
&
Luxury
Goods
165,319
14,154,613
Crown
Holdings,
Inc.
..............
Containers
&
Packaging
58,954
4,963,337
a
Deckers
Outdoor
Corp.
............
Textiles,
Apparel
&
Luxury
Goods
7,888
8,628,841
a,c
Freshpet,
Inc.
...................
Food
Products
139,503
18,298,609
a
Healthcare
Services
Group,
Inc.
.....
Commercial
Services
&
Supplies
234,565
2,528,611
Hillenbrand,
Inc.
.................
Machinery
306,925
14,268,943
Huntington
Bancshares,
Inc.
........
Banks
1,083,647
15,084,366
a
ICON
plc
.......................
Life
Sciences
Tools
&
Services
39,972
12,983,705
a,c
Integer
Holdings
Corp.
............
Health
Care
Equipment
&
Supplies
148,771
18,036,996
Janus
Henderson
Group
plc
........
Capital
Markets
333,825
11,183,138
c
John
Bean
Technologies
Corp.
......
Machinery
104,783
10,009,920
a,c
Jones
Lang
LaSalle,
Inc.
...........
Real
Estate
Management
&
Development
80,167
16,199,346
a
Knowles
Corp.
..................
Electronic
Equipment,
Instruments
&
Components
600,672
10,523,773
Lancaster
Colony
Corp.
............
Food
Products
47,843
8,874,877
LCI
Industries
...................
Automobile
Components
67,839
7,454,149
a
Leonardo
DRS,
Inc.
..............
Aerospace
&
Defense
454,268
10,698,011
c
Levi
Strauss
&
Co.
,
A
.............
Textiles,
Apparel
&
Luxury
Goods
333,147
7,998,859
a
Lindblad
Expeditions
Holdings,
Inc.
...
Hotels,
Restaurants
&
Leisure
680,433
5,266,551
Lithia
Motors,
Inc.
,
A
..............
Specialty
Retail
19,963
5,053,434
ManpowerGroup,
Inc.
.............
Professional
Services
119,814
8,940,521
c
MGP
Ingredients,
Inc.
.............
Beverages
137,900
10,703,798
a
Middleby
Corp.
(The)
.............
Machinery
45,537
5,870,175
Miller
Industries,
Inc.
..............
Machinery
194,869
11,848,035
a
NCR
Atleos
Corp.
................
Financial
Services
254,946
7,095,147
a,c
NCR
Voyix
Corp.
.................
Software
509,893
6,720,390
Patrick
Industries,
Inc.
.............
Automobile
Components
84,601
9,695,275
Sealed
Air
Corp.
.................
Containers
&
Packaging
243,467
9,463,562
a
Skechers
USA,
Inc.
,
A
.............
Textiles,
Apparel
&
Luxury
Goods
80,592
5,755,881
a
Sonos,
Inc.
.....................
Household
Durables
579,824
9,161,219
a
Texas
Capital
Bancshares,
Inc.
......
Banks
176,282
10,626,279
TriMas
Corp.
....................
Containers
&
Packaging
565,191
15,045,384
TrustCo
Bank
Corp.
..............
Banks
441,870
12,283,986
Voya
Financial,
Inc.
...............
Financial
Services
106,845
8,100,988
Winnebago
Industries,
Inc.
.........
Automobiles
66,549
4,129,365
371,639,687
Total
Common
Stocks
(Cost
$
576,848,844
)
.....................................
854,903,348
Units
a
a
a
a
a
Limited
Partnerships
1.5%
United
States
1.5%
AllianceBernstein
Holding
LP
.......
Capital
Markets
404,165
13,559,736
Total
Limited
Partnerships
(Cost
$
5,247,111
)
....................................
13,559,736
Total
Long
Term
Investments
(Cost
$
582,095,955
)
...............................
868,463,084
Templeton
Global
Smaller
Companies
Fund
Schedule
of
Investments
(unaudited)
See
Notes
to
Schedule
of
Investments.
Quarterly
Schedule
of
Investments
5
See
Abbreviations
on
page
8
.
Short
Term
Investments
4.7%
a
a
Industry
Principal
Amount
*
a
Value
a
a
a
a
a
a
U.S.
Government
and
Agency
Securities
4.6%
United
States
4.6%
d
FHLB
,
6/03/24
..................
41,700,000
$
41,681,895
Total
U.S.
Government
and
Agency
Securities
(Cost
$
41,687,930
)
.................
41,681,895
Shares
Investments
from
Cash
Collateral
Received
for
Loaned
Securities
0.1%
Money
Market
Funds
0.1%
e,f
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio
,
5.006
%
.........
1,236,900
1,236,900
Total
Investments
from
Cash
Collateral
Received
for
Loaned
Securities
(Cost
$
1,236,900
)
.................................................................
1,236,900
a
a
a
a
a
Total
Short
Term
Investments
(Cost
$
42,924,830
)
................................
42,918,795
a
a
a
Total
Investments
(Cost
$
625,020,785
)
100.0
%
..................................
$911,381,879
Other
Assets,
less
Liabilities
0.0
%
†
............................................
345,950
Net
Assets
100.0%
...........................................................
$911,727,829
a
a
a
*
The
principal
amount
is
stated
in
U.S.
dollars
unless
otherwise
indicated.
†
Rounds
to
less
than
0.1%
of
net
assets.
a
Non-income
producing.
b
Security
was
purchased
pursuant
to
Rule
144A
or
Regulation
S
under
the
Securities
Act
of
1933.
144A
securities
may
be
sold
in
transactions
exempt
from
registration
only
to
qualified
institutional
buyers
or
in
a
public
offering
registered
under
the
Securities
Act
of
1933.
Regulation
S
securities
cannot
be
sold
in
the
United
States
without
either
an
effective
registration
statement
filed
pursuant
to
the
Securities
Act
of
1933,
or
pursuant
to
an
exemption
from
registration.
At
May
31,
2024,
the
aggregate
value
of
these
securities
was
$58,182,828,
representing
6.4%
of
net
assets.
c
A
portion
or
all
of
the
security
is
on
loan
at
May
31,
2024.
d
The
security
was
issued
on
a
discount
basis
with
no
stated
coupon
rate.
e
See
Note
3
regarding
investments
in
affiliated
management
investment
companies.
f
The
rate
shown
is
the
annualized
seven-day
effective
yield
at
period
end.
Templeton
Global
Smaller
Companies
Fund
Notes
to
Schedule
of
Investments
(unaudited)
6
Quarterly
Schedule
of
Investments
1.
Organization
Templeton
Global
Smaller
Companies
Fund (Fund)
is
registered under
the
Investment
Company
Act
of
1940
(1940
Act)
as
an
open-end
management
investment
company.
The
Fund
follows
the
accounting
and
reporting
guidance
in
Financial
Accounting
Standards
Board
(FASB)
Accounting
Standards
Codification
Topic
946,
Financial
Services
–
Investment
Companies
(ASC
946)
and
applies
the
specialized
accounting
and
reporting
guidance
in
U.S.
Generally
Accepted
Accounting
Principles
(U.S.
GAAP),
including,
but
not
limited
to,
ASC
946.
2. Financial
Instrument
Valuation
The
Fund's investments
in
financial
instruments
are
carried
at
fair
value
daily.
Fair
value
is
the
price
that
would
be
received
to
sell
an
asset
or
paid
to
transfer
a
liability
in
an
orderly
transaction
between
market
participants
on
the
measurement
date.
The
Fund
calculates the
net
asset
value
(NAV)
per
share
each
business
day
as
of
4
p.m.
Eastern
time
or
the
regularly
scheduled
close
of
the
New
York
Stock
Exchange
(NYSE),
whichever
is
earlier.
Under
compliance
policies
and
procedures
approved
by
the Fund's
Board
of
Trustees
(the
Board),
the
Board
has
designated
the
Fund's
investment
manager
as
the
valuation
designee
and
has
responsibility
for
oversight
of
valuation.
The
investment
manager
is
assisted
by
the
Fund's administrator
in
performing
this responsibility,
including
leading
the
cross-functional
Valuation
Committee
(VC).
The
Fund
may
utilize
independent
pricing
services,
quotations
from
securities
and
financial
instrument
dealers,
and
other
market
sources
to
determine
fair
value.
Equity
securities
listed
on
an
exchange
or
on
the
NASDAQ
National
Market
System
are
valued
at
the
last
quoted
sale
price
or
the
official
closing
price
of
the
day,
respectively.
Foreign
equity
securities
are
valued
as
of
the
close
of
trading
on
the
foreign
stock
exchange
on
which
the
security
is
primarily
traded
or
as
of
4
p.m.
Eastern
time.
The
value
is
then
converted
into
its
U.S.
dollar
equivalent
at
the
foreign
exchange
rate
in
effect
at
4
p.m. Eastern
time
on
the
day
that
the
value
of
the
security
is
determined.
Over-the-counter
(OTC)
securities
are
valued
within
the
range
of
the
most
recent
quoted
bid
and
ask
prices.
Securities
that
trade
in
multiple
markets
or
on
multiple
exchanges
are
valued
according
to
the
broadest
and
most
representative
market.
Certain
equity
securities
are
valued
based
upon
fundamental
characteristics
or
relationships
to
similar
securities.
Debt
securities
generally
trade
in
the
OTC market
rather
than
on
a
securities
exchange.
The Fund's
pricing
services
use
multiple
valuation
techniques
to
determine
fair
value.
In
instances
where
sufficient
market
activity
exists,
the
pricing
services
may
utilize
a
market-based
approach
through
which
quotes
from
market
makers
are
used
to
determine
fair
value.
In
instances
where
sufficient
market
activity
may
not
exist
or
is
limited,
the
pricing
services
also
utilize
proprietary
valuation
models
which
may
consider
market
characteristics
such
as
benchmark
yield
curves,
credit
spreads,
estimated
default
rates,
anticipated
market
interest
rate
volatility,
coupon
rates,
anticipated
timing
of
principal
repayments,
underlying
collateral,
and
other
unique
security
features
in
order
to
estimate
the
relevant
cash
flows,
which
are
then
discounted
to
calculate
the
fair
value.
Investments
in
open-end
mutual
funds
are
valued
at
the
closing
NAV.
The
Fund
has procedures
to
determine
the
fair
value
of
financial
instruments
for
which
market
prices
are
not
reliable
or
readily
available.
Under
these
procedures,
the
Fund
primarily employs
a
market-based
approach
which
may
use
related
or
comparable
assets
or
liabilities,
recent
transactions,
market
multiples,
and
other
relevant
information
for
the
investment
to
determine
the
fair
value
of
the
investment.
An
income-based
valuation
approach
may
also
be
used
in
which
the
anticipated
future
cash
flows
of
the
investment
are
discounted
to
calculate
fair
value.
Discounts
may
also
be
applied
due
to
the
nature
or
duration
of
any
restrictions
on
the
disposition
of
the
investments.
Due
to
the
inherent
uncertainty
of
valuations
of
such
investments,
the
fair
values
may
differ
significantly
from
the
values
that
would
have
been
used
had
an
active
market
existed. 
Trading
in
securities
on
foreign
securities
stock
exchanges
and
OTC
markets
may
be
completed
before
4
p.m.
Eastern
time.
In
addition,
trading
in
certain
foreign
markets
may
not
take
place
on
every
Fund’s
business
day.
Events
can
occur
between
the
time
at
which
trading
in
a
foreign
security
is
completed
and
4
p.m.
Eastern
time
that
might
call
into
question
the
reliability
of
the
value
of
a
portfolio
security
held
by
the
Fund.
As
a
result,
differences
may
arise
between
the
value
of
the
Fund’s
portfolio securities
as
determined
at
the
foreign
market
close
and
the
latest
indications
of
value
at
4
p.m.
Eastern
time.
In
Templeton
Global
Smaller
Companies
Fund
Notes
to
Schedule
of
Investments
(unaudited)
7
Quarterly
Schedule
of
Investments
order
to
minimize
the
potential
for
these
differences,
an
independent
pricing
service
may
be
used
to
adjust
the
value
of
the
Fund's
portfolio
securities
to
the
latest
indications
of
fair
value
at 4
p.m.
Eastern
time.
At
May
31,
2024,
certain
securities
may
have
been
fair
valued
using
these
procedures,
in
which
case
the
securities
were
categorized
as
Level
2
within
the
fair
value
hierarchy
(referred
to
as
"market
level
fair
value").
See
the
Fair
Value
Measurements
note
for
more
information.
When
the
last
day
of
the
reporting
period
is
a
non-business
day,
certain
foreign
markets
may
be
open
on
those
days
that
the
Fund’s
NAV
is
not
calculated,
which
could
result
in
differences
between
the
value
of
the
Fund’s
portfolio
securities
on
the
last
business
day
and
the
last
calendar
day
of
the
reporting
period.
Any
security
valuation
changes
due
to
an
open
foreign
market
are
adjusted
and
reflected
by
the
Fund for
financial
reporting
purposes.
3.
Investments
in
Affiliated
Management
Investment
Companies 
The
Fund
invests
in
one
or
more
affiliated
management
investment
companies.
As
defined
in
the
1940
Act,
an
investment
is
deemed
to
be
a
"Controlled
Affiliate"
of
a
fund
when
a
fund
owns,
either
directly
or
indirectly,
25%
or
more
of
the
affiliated
fund's
outstanding
shares
or
has
the
power
to
exercise
control
over
management
or
policies
of
such
fund.
The
Fund
does
not
invest
for
purposes
of
exercising
a
controlling
influence
over
the
management
or
policies.
During
the
period
ended
May
31,
2024,
the
Fund
held
investments
in
affiliated
management
investment
companies
as
follows:
4. Fair
Value
Measurements 
The Fund
follows a
fair
value
hierarchy
that
distinguishes
between
market
data
obtained
from
independent
sources
(observable
inputs)
and
the Fund's
own
market
assumptions
(unobservable
inputs).
These
inputs
are
used
in
determining
the
value
of
the
Fund's
financial
instruments
and
are
summarized
in
the
following
fair
value
hierarchy:
Level
1
–
quoted
prices
in
active
markets
for
identical
financial
instruments
Level
2
–
other
significant
observable
inputs
(including
quoted
prices
for
similar
financial
instruments,
interest
rates,
prepayment
speed,
credit
risk,
etc.)
Level
3
–
significant
unobservable
inputs
(including
the
Fund's
own
assumptions
in
determining
the
fair
value
of
financial
instruments)
The
input
levels
are
not
necessarily
an
indication
of
the
risk
or
liquidity
associated
with
financial
instruments
at
that
level.
A
summary
of
inputs
used
as
of
May
31,
2024,
in
valuing
the Fund's
assets
carried
at
fair
value,
is
as
follows:  
    aa
Value
at
Beginning
of
Period
Purchases
Sales
Realized
Gain
(Loss)
Net
Change
in
Unrealized
Appreciation
(Depreciation)
Value
at
End
of
Period
Number
of
Shares
Held
at
End
of
Period
Investment
Income
a      
a  
a  
a  
a  
a  
a  
a  
Templeton
Global
Smaller
Companies
Fund
Non-Controlled
Affiliates
Income
from
securities
loaned
Institutional
Fiduciary
Trust
-
Money
Market
Portfolio
,
5.006
%
$—
$103,743,804
$(102,506,904)
$—
$—
$1,236,900
1,236,900
$111,358
Total
Affiliated
Securities
...
$—
$103,743,804
$(102,506,904)
$—
$—
$1,236,900
$111,358
2. Financial
Instrument
Valuation
(continued)
Templeton
Global
Smaller
Companies
Fund
Notes
to
Schedule
of
Investments
(unaudited)
8
Quarterly
Schedule
of
Investments
Abbreviations
Level
1
Level
2
Level
3
Total
Templeton
Global
Smaller
Companies
Fund
Assets:
Investments
in
Securities:
Common
Stocks
:
Bahamas
.............................
$
18,416,782
$
—
$
—
$
18,416,782
Belgium
..............................
—
8,160,354
—
8,160,354
Brazil
................................
8,807,881
—
—
8,807,881
Canada
..............................
15,147,603
—
—
15,147,603
China
...............................
—
12,182,780
—
12,182,780
Finland
..............................
11,619,795
—
—
11,619,795
France
...............................
—
6,460,945
—
6,460,945
Germany
.............................
—
36,653,434
—
36,653,434
Hong
Kong
...........................
—
19,392,768
—
19,392,768
Hungary
.............................
6,652,478
—
—
6,652,478
India
................................
—
21,473,787
—
21,473,787
Israel
................................
—
2,069,665
—
2,069,665
Italy
.................................
—
62,097,792
—
62,097,792
Japan
...............................
15,492,068
52,681,760
—
68,173,828
Mexico
..............................
4,238,273
—
—
4,238,273
Netherlands
...........................
—
13,650,247
—
13,650,247
New
Zealand
..........................
—
3,185,124
—
3,185,124
South
Korea
..........................
—
14,606,661
—
14,606,661
Sweden
..............................
—
21,561,819
—
21,561,819
Switzerland
...........................
12,090,409
38,467,061
—
50,557,470
Taiwan
...............................
—
24,547,624
—
24,547,624
Thailand
.............................
2,313,814
—
—
2,313,814
United
Kingdom
........................
17,867,389
33,425,348
—
51,292,737
United
States
..........................
371,639,687
—
—
371,639,687
Limited
Partnerships
......................
13,559,736
—
—
13,559,736
Short
Term
Investments
...................
$
1,236,900
$
41,681,895
—
$
42,918,795
Total
Investments
in
Securities
...........
$499,082,815
$412,299,064
a
$—
$911,381,879
a
Includes
foreign
securities
valued
at
$370,617,169,
which
were
categorized
as
Level
2
as
a
result
of
the
application
of
market
level
fair
value
procedures.
See
the
Financial
Instrument
Valuation
note
for
more
information.
Selected
Portfolio
FHLB
Federal
Home
Loan
Banks
NVDR
Non-Voting
Depository
Receipt
4. Fair
Value
Measurements 
(continued)
For
additional
information
on
the
Fund's
significant
accounting
policies,
please
refer
to
the Fund's
most
recent
semiannual
or
annual
shareholder
report.