N-CSRS 1 filing7595.htm PRIMARY DOCUMENT

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   811-05251



Fidelity Concord Street Trust

 (Exact name of registrant as specified in charter)



245 Summer St., Boston, MA 02210

 (Address of principal executive offices)       (Zip code)



Margaret Carey, Secretary

245 Summer St.

Boston, Massachusetts  02210

(Name and address of agent for service)





Registrant's telephone number, including area code:

617-563-7000





Date of fiscal year end:

October 31





Date of reporting period:

April 30, 2024



Item 1.

Reports to Stockholders







Fidelity® SAI Japan Stock Index Fund
 
 
Semi-Annual Report
April 30, 2024
 
Offered exclusively to certain clients of the Adviser, or its affiliates, including Strategic Advisers LLC (Strategic Advisers) - not available for sale to the general public. Fidelity® SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers.

Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example

Liquidity Risk Management Program

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
 
 
You may also call 1-800-544-3455 to request a free copy of the proxy voting guidelines.
The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2024 FMR LLC. All rights reserved.
 
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
 
Top Holdings (% of Fund's net assets)
 
Toyota Motor Corp.  (Automobiles)
6.4
 
Mitsubishi UFJ Financial Group, Inc.  (Banks)
2.9
 
Sony Group Corp.  (Household Durables)
2.7
 
Tokyo Electron Ltd.  (Semiconductors & Semiconductor Equipment)
2.7
 
Hitachi Ltd.  (Industrial Conglomerates)
2.2
 
Keyence Corp.  (Electronic Equipment, Instruments & Components)
2.2
 
Mitsubishi Corp.  (Trading Companies & Distributors)
2.1
 
Sumitomo Mitsui Financial Group, Inc.  (Banks)
1.9
 
Shin-Etsu Chemical Co. Ltd.  (Chemicals)
1.9
 
Mitsui & Co. Ltd.  (Trading Companies & Distributors)
1.6
 
 
26.6
 
 
Market Sectors (% of Fund's net assets)
 
Industrials
23.1
 
Consumer Discretionary
19.0
 
Information Technology
14.6
 
Financials
13.5
 
Health Care
7.6
 
Communication Services
6.5
 
Consumer Staples
5.2
 
Materials
4.2
 
Real Estate
3.1
 
Utilities
1.2
 
Energy
0.9
 
 
Asset Allocation (% of Fund's net assets)
Futures - 1%
Geographic Diversification (% of Fund's net assets)
*    Includes Short-Term investments and Net Other Assets (Liabilities). 
Percentages are adjusted for the effect of derivatives, if applicable.
 
 
 
Showing Percentage of Net Assets
Common Stocks - 98.9%
 
 
Shares
Value ($)
 
COMMUNICATION SERVICES - 6.5%
 
 
 
Diversified Telecommunication Services - 0.9%
 
 
 
Nippon Telegraph & Telephone Corp.
 
5,088,000
5,493,322
Entertainment - 2.0%
 
 
 
Capcom Co. Ltd.
 
58,900
969,638
Konami Group Corp.
 
17,100
1,031,768
Nexon Co. Ltd.
 
58,300
908,976
Nintendo Co. Ltd.
 
176,900
8,627,237
Square Enix Holdings Co. Ltd.
 
14,600
527,748
Toho Co. Ltd.
 
19,000
636,545
 
 
 
12,701,912
Interactive Media & Services - 0.2%
 
 
 
LY Corp.
 
454,600
1,092,238
Media - 0.1%
 
 
 
Dentsu Group, Inc.
 
34,500
933,335
Wireless Telecommunication Services - 3.3%
 
 
 
KDDI Corp.
 
254,900
7,073,168
SoftBank Corp.
 
489,900
5,909,020
SoftBank Group Corp.
 
175,200
8,616,441
 
 
 
21,598,629
TOTAL COMMUNICATION SERVICES
 
 
41,819,436
CONSUMER DISCRETIONARY - 19.0%
 
 
 
Automobile Components - 2.0%
 
 
 
Aisin Seiki Co. Ltd.
 
25,100
954,710
Bridgestone Corp.
 
97,200
4,289,146
DENSO Corp.
 
322,000
5,487,886
Koito Manufacturing Co. Ltd.
 
34,000
457,325
Sumitomo Electric Industries Ltd.
 
121,900
1,884,125
 
 
 
13,073,192
Automobiles - 9.4%
 
 
 
Honda Motor Co. Ltd.
 
786,500
8,948,468
Isuzu Motors Ltd.
 
99,200
1,257,147
Mazda Motor Corp.
 
96,700
1,094,593
Nissan Motor Co. Ltd.
 
409,200
1,497,551
Subaru Corp.
 
102,600
2,290,955
Suzuki Motor Corp.
 
267,900
3,119,906
Toyota Motor Corp.
 
1,805,500
41,180,920
Yamaha Motor Co. Ltd.
 
151,900
1,416,805
 
 
 
60,806,345
Broadline Retail - 0.4%
 
 
 
Pan Pacific International Holdings Ltd.
 
64,800
1,521,895
Rakuten Group, Inc. (a)
 
255,000
1,226,409
 
 
 
2,748,304
Hotels, Restaurants & Leisure - 1.0%
 
 
 
McDonald's Holdings Co. (Japan) Ltd. (b)
 
14,700
646,634
Oriental Land Co. Ltd.
 
185,800
5,126,545
Zensho Holdings Co. Ltd.
 
16,400
635,651
 
 
 
6,408,830
Household Durables - 3.9%
 
 
 
Iida Group Holdings Co. Ltd.
 
26,300
335,744
Panasonic Holdings Corp.
 
376,400
3,285,391
Sekisui Chemical Co. Ltd.
 
64,800
942,713
Sekisui House Ltd.
 
101,500
2,332,506
Sharp Corp. (a)
 
44,200
232,013
Sony Group Corp.
 
214,700
17,745,249
 
 
 
24,873,616
Leisure Products - 0.7%
 
 
 
Bandai Namco Holdings, Inc.
 
101,900
1,904,020
SHIMANO, Inc.
 
13,000
2,112,669
Yamaha Corp.
 
22,300
469,932
 
 
 
4,486,621
Specialty Retail - 1.6%
 
 
 
Fast Retailing Co. Ltd.
 
29,800
7,791,778
Nitori Holdings Co. Ltd.
 
13,600
1,820,130
USS Co. Ltd.
 
69,900
533,987
ZOZO, Inc.
 
23,000
495,385
 
 
 
10,641,280
TOTAL CONSUMER DISCRETIONARY
 
 
123,038,188
CONSUMER STAPLES - 5.2%
 
 
 
Beverages - 0.9%
 
 
 
Asahi Group Holdings
 
82,100
2,808,558
Kirin Holdings Co. Ltd.
 
132,600
1,935,641
Suntory Beverage & Food Ltd.
 
23,700
771,086
 
 
 
5,515,285
Consumer Staples Distribution & Retail - 1.3%
 
 
 
AEON Co. Ltd.
 
111,500
2,331,275
Kobe Bussan Co. Ltd.
 
25,600
552,890
MatsukiyoCocokara & Co.
 
58,400
828,155
Seven & i Holdings Co. Ltd.
 
385,000
4,974,662
 
 
 
8,686,982
Food Products - 1.1%
 
 
 
Ajinomoto Co., Inc.
 
80,000
2,974,518
Kikkoman Corp.
 
115,400
1,375,038
Meiji Holdings Co. Ltd.
 
39,900
892,738
Nissin Food Holdings Co. Ltd.
 
34,100
909,977
Yakult Honsha Co. Ltd.
 
43,600
852,805
 
 
 
7,005,076
Household Products - 0.3%
 
 
 
Unicharm Corp.
 
68,600
2,038,322
Personal Care Products - 0.8%
 
 
 
Kao Corp.
 
79,400
3,275,427
Shiseido Co. Ltd.
 
68,200
1,825,595
 
 
 
5,101,022
Tobacco - 0.8%
 
 
 
Japan Tobacco, Inc.
 
204,300
5,496,000
TOTAL CONSUMER STAPLES
 
 
33,842,687
ENERGY - 0.9%
 
 
 
Oil, Gas & Consumable Fuels - 0.9%
 
 
 
ENEOS Holdings, Inc.
 
491,400
2,270,374
Idemitsu Kosan Co. Ltd.
 
164,700
1,115,862
INPEX Corp.
 
165,100
2,473,165
 
 
 
5,859,401
FINANCIALS - 13.5%
 
 
 
Banks - 7.5%
 
 
 
Chiba Bank Ltd.
 
90,200
761,925
Concordia Financial Group Ltd.
 
180,300
971,481
Japan Post Bank Co. Ltd.
 
246,700
2,504,082
Mitsubishi UFJ Financial Group, Inc.
 
1,890,500
18,831,945
Mizuho Financial Group, Inc.
 
410,800
7,940,397
Resona Holdings, Inc.
 
361,600
2,286,667
Shizuoka Financial Group
 
79,600
742,974
Sumitomo Mitsui Financial Group, Inc.
 
216,400
12,292,345
Sumitomo Mitsui Trust Holdings, Inc.
 
111,500
2,344,269
 
 
 
48,676,085
Capital Markets - 1.2%
 
 
 
Daiwa Securities Group, Inc.
 
226,900
1,667,502
Japan Exchange Group, Inc.
 
85,400
2,000,113
Nomura Holdings, Inc.
 
512,300
2,914,980
SBI Holdings, Inc. Japan
 
42,200
1,027,492
 
 
 
7,610,087
Financial Services - 0.8%
 
 
 
Mitsubishi UFJ Lease & Finance Co. Ltd.
 
137,200
888,514
ORIX Corp.
 
199,800
4,088,990
 
 
 
4,977,504
Insurance - 4.0%
 
 
 
Dai-ichi Mutual Life Insurance Co.
 
160,200
3,710,399
Japan Post Holdings Co. Ltd.
 
353,200
3,391,886
Japan Post Insurance Co. Ltd.
 
32,600
612,035
MS&AD Insurance Group Holdings, Inc.
 
219,200
3,941,007
Sompo Holdings, Inc.
 
151,900
3,006,121
T&D Holdings, Inc.
 
83,300
1,359,234
Tokio Marine Holdings, Inc.
 
306,800
9,696,842
 
 
 
25,717,524
TOTAL FINANCIALS
 
 
86,981,200
HEALTH CARE - 7.6%
 
 
 
Health Care Equipment & Supplies - 2.4%
 
 
 
ASAHI INTECC Co. Ltd.
 
37,000
542,149
Hoya Corp.
 
59,800
6,933,202
Olympus Corp.
 
205,000
2,855,593
Sysmex Corp.
 
85,600
1,368,776
Terumo Corp.
 
229,300
3,889,875
 
 
 
15,589,595
Health Care Technology - 0.1%
 
 
 
M3, Inc.
 
75,100
794,421
Pharmaceuticals - 5.1%
 
 
 
Astellas Pharma, Inc.
 
307,800
2,954,234
Chugai Pharmaceutical Co. Ltd.
 
114,400
3,638,363
Daiichi Sankyo Kabushiki Kaisha
 
314,900
10,598,813
Eisai Co. Ltd.
 
42,900
1,761,863
Kyowa Hakko Kirin Co., Ltd.
 
45,900
770,838
Ono Pharmaceutical Co. Ltd.
 
61,600
887,248
Otsuka Holdings Co. Ltd.
 
71,200
3,044,288
Shionogi & Co. Ltd.
 
41,900
1,956,762
Takeda Pharmaceutical Co. Ltd.
 
269,500
7,083,018
 
 
 
32,695,427
TOTAL HEALTH CARE
 
 
49,079,443
INDUSTRIALS - 23.1%
 
 
 
Air Freight & Logistics - 0.3%
 
 
 
Nippon Express Holdings, Inc.
 
12,400
634,363
SG Holdings Co. Ltd.
 
54,500
637,928
Yamato Holdings Co. Ltd.
 
45,200
596,942
 
 
 
1,869,233
Building Products - 1.2%
 
 
 
AGC, Inc.
 
33,300
1,231,242
Daikin Industries Ltd.
 
44,900
6,128,461
Toto Ltd.
 
24,100
652,254
 
 
 
8,011,957
Commercial Services & Supplies - 0.7%
 
 
 
Dai Nippon Printing Co. Ltd.
 
34,800
1,013,589
Secom Co. Ltd.
 
35,800
2,486,758
Toppan Holdings, Inc.
 
39,100
927,607
 
 
 
4,427,954
Construction & Engineering - 0.7%
 
 
 
Kajima Corp.
 
71,900
1,377,394
Obayashi Corp.
 
110,400
1,232,152
SHIMIZU Corp.
 
88,500
548,210
Taisei Corp.
 
28,900
1,058,041
 
 
 
4,215,797
Electrical Equipment - 1.6%
 
 
 
Fuji Electric Co. Ltd.
 
21,600
1,343,605
Mitsubishi Electric Corp.
 
329,100
5,736,189
Nidec Corp.
 
71,000
3,325,134
 
 
 
10,404,928
Ground Transportation - 1.9%
 
 
 
Central Japan Railway Co.
 
131,800
3,014,000
East Japan Railway Co.
 
154,400
2,829,993
Hankyu Hanshin Holdings, Inc.
 
38,900
1,019,889
Keisei Electric Railway Co.
 
23,500
875,444
Kintetsu Group Holdings Co. Ltd.
 
30,800
791,825
Odakyu Electric Railway Co. Ltd.
 
53,300
599,235
Tobu Railway Co. Ltd.
 
32,100
636,879
Tokyu Corp.
 
85,000
1,006,193
West Japan Railway Co.
 
74,700
1,417,914
 
 
 
12,191,372
Industrial Conglomerates - 2.3%
 
 
 
Hikari Tsushin, Inc.
 
3,500
568,827
Hitachi Ltd.
 
157,800
14,558,738
 
 
 
15,127,565
Machinery - 4.9%
 
 
 
Daifuku Co. Ltd.
 
51,700
1,059,013
FANUC Corp.
 
162,300
4,807,212
Hitachi Construction Machinery Co. Ltd.
 
18,300
522,690
Hoshizaki Corp.
 
18,500
637,486
Komatsu Ltd.
 
157,500
4,702,343
Kubota Corp.
 
170,100
2,728,359
Makita Corp.
 
38,100
1,103,029
Minebea Mitsumi, Inc.
 
61,700
1,155,663
Misumi Group, Inc.
 
48,400
786,880
Mitsubishi Heavy Industries Ltd.
 
545,800
4,880,062
SMC Corp.
 
9,700
5,096,057
Toyota Industries Corp.
 
25,000
2,375,672
Yaskawa Electric Corp.
 
40,800
1,681,067
 
 
 
31,535,533
Marine Transportation - 0.8%
 
 
 
Kawasaki Kisen Kaisha Ltd.
 
66,900
942,614
Mitsui OSK Lines Ltd.
 
58,500
1,856,766
Nippon Yusen KK
 
78,100
2,217,296
 
 
 
5,016,676
Passenger Airlines - 0.1%
 
 
 
Ana Holdings, Inc.
 
27,200
516,583
Japan Airlines Co. Ltd.
 
24,500
434,110
 
 
 
950,693
Professional Services - 1.6%
 
 
 
Recruit Holdings Co. Ltd.
 
245,400
10,568,730
Trading Companies & Distributors - 7.0%
 
 
 
Itochu Corp.
 
202,400
9,131,230
Marubeni Corp.
 
244,000
4,347,193
Mitsubishi Corp.
 
587,300
13,431,305
Mitsui & Co. Ltd.
 
220,400
10,639,963
MonotaRO Co. Ltd.
 
42,600
510,556
Sumitomo Corp.
 
177,100
4,657,228
Toyota Tsusho Corp.
 
36,200
2,301,594
 
 
 
45,019,069
TOTAL INDUSTRIALS
 
 
149,339,507
INFORMATION TECHNOLOGY - 14.6%
 
 
 
Electronic Equipment, Instruments & Components - 4.8%
 
 
 
Azbil Corp.
 
20,500
572,565
Hamamatsu Photonics K.K.
 
23,900
875,736
Hirose Electric Co. Ltd.
 
5,000
530,729
Ibiden Co. Ltd.
 
19,200
729,859
Keyence Corp.
 
33,100
14,556,382
Kyocera Corp.
 
218,400
2,662,000
Murata Manufacturing Co. Ltd.
 
293,500
5,362,883
OMRON Corp.
 
29,800
1,022,807
Shimadzu Corp.
 
40,300
1,094,873
TDK Corp.
 
66,200
2,953,248
Yokogawa Electric Corp.
 
38,800
857,317
 
 
 
31,218,399
IT Services - 2.2%
 
 
 
Fujitsu Ltd.
 
299,800
4,631,356
NEC Corp.
 
41,800
3,026,403
Nomura Research Institute Ltd.
 
65,700
1,589,802
NTT Data Corp.
 
107,300
1,677,938
OBIC Co. Ltd.
 
11,900
1,528,752
Otsuka Corp.
 
38,800
771,659
SCSK Corp.
 
26,600
483,567
TIS, Inc.
 
37,400
798,736
 
 
 
14,508,213
Semiconductors & Semiconductor Equipment - 5.6%
 
 
 
Advantest Corp.
 
130,500
4,084,738
Disco Corp.
 
15,700
4,472,079
Lasertec Corp.
 
12,800
2,761,030
Renesas Electronics Corp.
 
250,200
4,062,185
ROHM Co. Ltd.
 
56,100
806,429
Screen Holdings Co. Ltd.
 
13,900
1,434,162
Sumco Corp.
 
59,600
888,834
Tokyo Electron Ltd.
 
80,300
17,613,477
 
 
 
36,122,934
Software - 0.3%
 
 
 
Oracle Corp. Japan
 
6,600
495,294
Trend Micro, Inc.
 
22,800
1,123,543
 
 
 
1,618,837
Technology Hardware, Storage & Peripherals - 1.7%
 
 
 
Brother Industries Ltd.
 
39,500
698,714
Canon, Inc.
 
170,300
4,609,219
FUJIFILM Holdings Corp.
 
190,700
4,056,663
Ricoh Co. Ltd.
 
93,300
804,904
Seiko Epson Corp.
 
49,100
807,694
 
 
 
10,977,194
TOTAL INFORMATION TECHNOLOGY
 
 
94,445,577
MATERIALS - 4.2%
 
 
 
Chemicals - 3.3%
 
 
 
Asahi Kasei Corp.
 
213,400
1,487,854
Mitsubishi Chemical Holdings Corp.
 
217,800
1,270,616
Mitsui Chemicals, Inc.
 
29,000
825,424
Nippon Paint Holdings Co. Ltd.
 
161,300
1,032,484
Nippon Sanso Holdings Corp.
 
29,500
876,221
Nissan Chemical Corp.
 
21,400
729,487
Nitto Denko Corp.
 
24,500
2,025,799
Shin-Etsu Chemical Co. Ltd.
 
306,700
11,872,032
Toray Industries, Inc.
 
235,900
1,078,233
 
 
 
21,198,150
Metals & Mining - 0.9%
 
 
 
JFE Holdings, Inc.
 
97,900
1,461,228
Nippon Steel & Sumitomo Metal Corp.
 
145,800
3,268,679
Sumitomo Metal Mining Co. Ltd.
 
42,200
1,409,845
 
 
 
6,139,752
TOTAL MATERIALS
 
 
27,337,902
REAL ESTATE - 3.1%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 0.8%
 
 
 
GLP J-REIT
 
796
647,396
Japan Real Estate Investment Corp.
 
218
739,269
Japan Retail Fund Investment Corp.
 
1,188
717,230
KDX Realty Investment Corp.
 
705
695,368
Nippon Building Fund, Inc.
 
262
1,001,048
Nippon Prologis REIT, Inc.
 
386
666,085
Nomura Real Estate Master Fund, Inc.
 
682
651,938
 
 
 
5,118,334
Real Estate Management & Development - 2.3%
 
 
 
Daito Trust Construction Co. Ltd.
 
10,000
1,071,944
Daiwa House Industry Co. Ltd.
 
101,100
2,844,844
Hulic Co. Ltd.
 
65,200
600,796
Mitsubishi Estate Co. Ltd.
 
191,700
3,512,848
Mitsui Fudosan Co. Ltd.
 
454,700
4,627,511
Nomura Real Estate Holdings, Inc.
 
18,700
523,546
Sumitomo Realty & Development Co. Ltd.
 
48,600
1,681,751
 
 
 
14,863,240
TOTAL REAL ESTATE
 
 
19,981,574
UTILITIES - 1.2%
 
 
 
Electric Utilities - 0.8%
 
 
 
Chubu Electric Power Co., Inc.
 
109,600
1,406,822
Kansai Electric Power Co., Inc.
 
119,800
1,794,535
Tokyo Electric Power Co., Inc. (a)
 
259,700
1,615,406
 
 
 
4,816,763
Gas Utilities - 0.4%
 
 
 
Osaka Gas Co. Ltd.
 
63,800
1,418,650
Tokyo Gas Co. Ltd.
 
62,900
1,410,675
 
 
 
2,829,325
TOTAL UTILITIES
 
 
7,646,088
 
TOTAL COMMON STOCKS
 (Cost $610,053,023)
 
 
 
639,371,003
 
 
 
 
Government Obligations - 0.0%
 
 
Principal
Amount (c)
 
Value ($)
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (d)
 
 (Cost $398,720)
 
 
400,000
398,709
 
 
 
 
Money Market Funds - 0.2%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (e)
 
484,299
484,396
Fidelity Securities Lending Cash Central Fund 5.39% (e)(f)
 
605,089
605,150
 
TOTAL MONEY MARKET FUNDS
 (Cost $1,089,546)
 
 
1,089,546
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 99.1%
 (Cost $611,541,289)
 
 
 
640,859,258
NET OTHER ASSETS (LIABILITIES) - 0.9%  
5,513,235
NET ASSETS - 100.0%
646,372,493
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
CME Yen Denominated Nikkei 225 Contracts (United States)
55
Jun 2024
6,654,646
(123,220)
(123,220)
 
 
 
 
 
 
The notional amount of futures purchased as a percentage of Net Assets is 1.0%
 
 
Legend
 
(a)
Non-income producing
 
(b)
Security or a portion of the security is on loan at period end.
 
(c)
Amount is stated in United States dollars unless otherwise noted.
 
(d)
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 $348,871.
 
(e)
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.
 
(f)
Investment made with cash collateral received from securities on loan.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
540,844
184,296,529
184,353,875
164,830
898
-
484,396
0.0%
Fidelity Securities Lending Cash Central Fund 5.39%
768,675
10,085,590
10,249,115
6,291
-
-
605,150
0.0%
Total
1,309,519
194,382,119
194,602,990
171,121
898
-
1,089,546
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
41,819,436
-
41,819,436
-
Consumer Discretionary
123,038,188
-
123,038,188
-
Consumer Staples
33,842,687
-
33,842,687
-
Energy
5,859,401
-
5,859,401
-
Financials
86,981,200
-
86,981,200
-
Health Care
49,079,443
-
49,079,443
-
Industrials
149,339,507
-
149,339,507
-
Information Technology
94,445,577
-
94,445,577
-
Materials
27,337,902
-
27,337,902
-
Real Estate
19,981,574
-
19,981,574
-
Utilities
7,646,088
-
7,646,088
-
 Government Obligations
398,709
-
398,709
-
  Money Market Funds
1,089,546
1,089,546
-
-
 Total Investments in Securities:
640,859,258
1,089,546
639,769,712
-
 Derivative Instruments:
 Liabilities
 
 
 
 
Futures Contracts
(123,220)
(123,220)
-
-
  Total Liabilities
(123,220)
(123,220)
-
-
 Total Derivative Instruments:
(123,220)
(123,220)
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
0
(123,220)
Total Equity Risk
0
(123,220)
Total Value of Derivatives
0
(123,220)
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  (including  securities loaned of $575,787) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $610,451,743)
$
639,769,712
 
 
Fidelity Central Funds (cost $1,089,546)
1,089,546
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $611,541,289)
 
 
$
640,859,258
Foreign currency held at value (cost $606,217)
 
 
595,450
Dividends receivable
 
 
5,656,707
Distributions receivable from Fidelity Central Funds
 
 
5,928
Prepaid expenses
 
 
266
  Total assets
 
 
647,117,609
Liabilities
 
 
 
 
Accrued management fee
$
54,619
 
 
Payable for daily variation margin on futures contracts
27,898
 
 
Other payables and accrued expenses
57,449
 
 
Collateral on securities loaned
605,150
 
 
  Total liabilities
 
 
 
745,116
Net Assets  
 
 
$
646,372,493
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
828,165,816
Total accumulated earnings (loss)
 
 
 
(181,793,323)
Net Assets
 
 
$
646,372,493
Net Asset Value, offering price and redemption price per share ($646,372,493 ÷ 65,577,351 shares)
 
 
$
9.86
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
7,355,282
Interest  
 
 
11,038
Income from Fidelity Central Funds (including $6,291 from security lending)
 
 
171,121
 Income before foreign taxes withheld
 
 
$
7,537,441
Less foreign taxes withheld
 
 
(735,243)
 Total income
 
 
 
6,802,198
Expenses
 
 
 
 
Management fee
$
285,224
 
 
Custodian fees and expenses
25,548
 
 
Independent trustees' fees and expenses
1,547
 
 
Registration fees
5,595
 
 
Audit
32,226
 
 
Legal
300
 
 
Miscellaneous
1,344
 
 
 Total expenses before reductions
 
351,784
 
 
 Expense reductions
 
(86)
 
 
 Total expenses after reductions
 
 
 
351,698
Net Investment income (loss)
 
 
 
6,450,500
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
(40,438,225)
 
 
   Fidelity Central Funds
 
898
 
 
 Foreign currency transactions
 
(439,260)
 
 
 Futures contracts
 
344,173
 
 
Total net realized gain (loss)
 
 
 
(40,532,414)
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
119,346,127
 
 
 Assets and liabilities in foreign currencies
 
(128,328)
 
 
 Futures contracts
 
38,629
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
119,256,428
Net gain (loss)
 
 
 
78,724,014
Net increase (decrease) in net assets resulting from operations
 
 
$
85,174,514
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
6,450,500
$
18,301,861
Net realized gain (loss)
 
(40,532,414)
 
 
(81,596,353)
 
Change in net unrealized appreciation (depreciation)
 
119,256,428
 
229,129,470
 
Net increase (decrease) in net assets resulting from operations
 
85,174,514
 
 
165,834,978
 
Distributions to shareholders
 
(23,223,128)
 
 
(21,029,630)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
180,000,000
 
-
  Reinvestment of distributions
 
23,223,128
 
 
21,029,630
 
Cost of shares redeemed
 
(348,000,000)
 
(405,000,000)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
(144,776,872)
 
 
(383,970,370)
 
Total increase (decrease) in net assets
 
(82,825,486)
 
 
(239,165,022)
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
729,197,979
 
968,363,001
 
End of period
$
646,372,493
$
729,197,979
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
18,101,841
 
-
  Issued in reinvestment of distributions
 
2,566,092
 
 
2,567,720
 
Redeemed
 
(38,288,479)
 
(47,194,026)
Net increase (decrease)
 
(17,620,546)
 
(44,626,306)
 
 
 
 
 
 
Financial Highlights
 
Fidelity® SAI Japan Stock Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 A
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
8.76
$
7.58
$
10.18
$
10.00
  Income from Investment Operations
 
 
 
 
 
 
 
 
     Net investment income (loss) B,C
 
.11
 
.19
 
.19
 
.10
     Net realized and unrealized gain (loss)
 
1.38
 
1.18
 
(2.69)
 
.08
  Total from investment operations
 
1.49  
 
1.37  
 
(2.50)  
 
.18  
  Distributions from net investment income
 
(.39)
 
(.19)
 
(.10)
 
-
     Total distributions
 
(.39)
 
(.19)
 
(.10)
 
-
  Net asset value, end of period
$
9.86
$
8.76
$
7.58
$
10.18
 Total Return D,E
 
17.35
%
 
 
18.18%
 
(24.83)%
 
1.80%
 Ratios to Average Net Assets C,F,G
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.12% H
 
.13%
 
.11%
 
.14% H
    Expenses net of fee waivers, if any
 
.12
% H
 
 
.13%
 
.11%
 
.14% H
    Expenses net of all reductions
 
.12% H
 
.13%
 
.11%
 
.14% H
    Net investment income (loss)
 
2.26% H
 
2.12%
 
2.12%
 
2.27% H
 Supplemental Data
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
646,372
$
729,198
$
968,363
$
1,720,298
    Portfolio turnover rate I
 
68
% H
 
 
5%
 
8%
 
-% J,K
 
AFor the period May 27, 2021 (commencement of operations) through October 31, 2021.
 
BCalculated based on average shares outstanding during the period.
 
CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
DTotal returns for periods of less than one year are not annualized.
 
ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
FFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
HAnnualized.
 
IAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
JAmount represents less than 1%.
 
KAmount not annualized.
 
For the period ended April 30, 2024
 
1. Organization.
Fidelity SAI Japan Stock Index Fund (the Fund) is a fund of Fidelity Concord Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered exclusively to certain clients of Fidelity Management & Research Company LLC (FMR) or its affiliates. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense RatioA
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters. 
 
The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - unadjusted 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)
 
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 service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, ETFs and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices.  When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances. 
 
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2024 is included at the end of the Fund's Schedule of Investments.
 
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
 
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
 
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
 
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain.
 
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
 
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to futures contracts, foreign currency transactions, passive foreign investment companies (PFIC), partnerships, capital loss carryforwards and losses deferred due to wash sales.
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:
 
Gross unrealized appreciation
$85,557,729
Gross unrealized depreciation
(65,983,226)
Net unrealized appreciation (depreciation)
$19,574,503
Tax cost
$621,161,535
 
Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
 
 Short-term
$(78,838,138)
 Long-term
(85,741,534)
Total capital loss carryforward
$(164,579,672)
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objectives allow for various types of derivative instruments, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
 
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.
 
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
 
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period unless an average notional amount is presented. Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, U.S. government securities and in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity SAI Japan Stock Index Fund
201,783,920
363,139,732
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee that is based on an annual rate of .10% of the Fund's average net assets.
 
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The participating funds have agreed to pay commitment fees on their pro-rata portion of the line of credit, which are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below. During the period, there were no borrowings on this line of credit.
 
Amount ($)
Fidelity SAI Japan Stock Index Fund
546
 
8. Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income 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. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Affiliated security lending activity, if any, was as follows:
 
 
Total Security Lending Fees Paid to NFS ($)
Security Lending Income From Securities Loaned to NFS ($)
Value of Securities Loaned to NFS at Period End ($)
Fidelity SAI Japan Stock Index Fund
666
 -
-
 
9. Expense Reductions.
Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses by $86.
10. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
 
At the end of the period, the following mutual funds managed by the investment adviser or its affiliates were the owners of record of 10% or more of the total outstanding shares.
 
 
Strategic Advisers Fidelity International Fund
Strategic Advisers International Fund
Fidelity SAI Japan Stock Index Fund
14%
86%
 
Mutual funds managed by the investment adviser or its affiliates, in aggregate, were the owners of record of more than 20% of the total outstanding shares.
 
Fund
% of shares held
Fidelity SAI Japan Stock Index Fund
100%
 
11. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as pandemics, epidemics, outbreaks of infectious diseases, war, terrorism, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
 
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2023 to April 30, 2024).
 
Actual Expenses
The first line of the accompanying table 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 $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
 
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the 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 the 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. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing 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.
 
 
 
 
 
Annualized Expense Ratio- A
 
Beginning Account Value November 1, 2023
 
Ending Account Value April 30, 2024
 
Expenses Paid During Period- C November 1, 2023 to April 30, 2024
 
 
 
 
 
 
 
 
 
 
Fidelity® SAI Japan Stock Index Fund
 
 
 
.12%
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,173.50
 
$ .65
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,024.27
 
$ .60
 
A   Annualized expense ratio reflects expenses net of applicable fee waivers.
 
B   5% return per year before expenses
 
C   Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 366 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
 
 
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Fund has adopted and implemented a liquidity risk management program (the Program) reasonably designed to assess and manage the Fund's liquidity risk and to comply with the requirements of the Liquidity Rule. The Fund's Board of Trustees (the Board) has designated the Fund's investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund's liquidity risk based on a variety of factors including (1) the Fund's investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) certain factors specific to ETFs including the effect of the Fund's prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund's portfolio, as applicable.
In accordance with the Program, each of the Fund's portfolio investments is classified into one of four defined liquidity categories based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
  • Highly liquid investments - cash or convertible to cash within three business days or less
  • Moderately liquid investments - convertible to cash in three to seven calendar days
  • Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
  • Illiquid investments - cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund's illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund's net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM).  The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund's Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of the Program for the period December 1, 2022 through November 30, 2023.  The report concluded that the Program is operating effectively and is reasonably designed to assess and manage the Fund's liquidity risk.  
 
1.9901433.102
JSI-SANN-0624
Fidelity ZERO® Funds
 
Fidelity ZERO® Extended Market Index Fund
Fidelity ZERO® International Index Fund
Fidelity ZERO® Large Cap Index Fund
Fidelity ZERO® Total Market Index Fund
 
 
Semi-Annual Report
April 30, 2024

Contents

Fidelity ZERO® Extended Market Index Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity ZERO® International Index Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity ZERO® Large Cap Index Fund

Investment Summary

Schedule of Investments

Financial Statements

Fidelity ZERO® Total Market Index Fund

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example

Liquidity Risk Management Program

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
 
 
You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.
The funds or securities referred to herein are not sponsored, endorsed, or promoted by Fidelity Product Services LLC (FPS), and FPS bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the relationship between FPS and any related funds.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2024 FMR LLC. All rights reserved.
 
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Funds. This report is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Funds nor Fidelity Distributors Corporation is a bank.
 
Top Holdings (% of Fund's net assets)
 
EMCOR Group, Inc.
0.3
 
EQT Corp.
0.3
 
NRG Energy, Inc.
0.3
 
Pure Storage, Inc. Class A
0.3
 
Owens Corning
0.3
 
Lennox International, Inc.
0.3
 
Nutanix, Inc. Class A
0.3
 
Snap-On, Inc.
0.3
 
Watsco, Inc.
0.3
 
Nordson Corp.
0.3
 
 
3.0
 
 
Market Sectors (% of Fund's net assets)
 
Industrials
20.4
 
Financials
16.1
 
Consumer Discretionary
12.9
 
Health Care
12.5
 
Information Technology
11.2
 
Real Estate
6.4
 
Materials
5.4
 
Energy
5.3
 
Consumer Staples
4.1
 
Communication Services
3.0
 
Utilities
2.5
 
 
Asset Allocation (% of Fund's net assets)
Futures - 0.2%
 
Fidelity ZERO® Extended Market Index Fund
Common Stocks - 99.8%
 
 
Shares
Value ($)
 
COMMUNICATION SERVICES - 3.0%
 
 
 
Diversified Telecommunication Services - 0.4%
 
 
 
Anterix, Inc. (a)
 
5,194
163,715
AST SpaceMobile, Inc. (a)(b)
 
36,254
80,121
ATN International, Inc.
 
2,886
55,065
Bandwidth, Inc. (a)
 
6,103
111,075
Cogent Communications Group, Inc.
 
11,850
760,533
Consolidated Communications Holdings, Inc. (a)
 
20,101
86,836
Frontier Communications Parent, Inc. (a)(b)
 
62,256
1,440,604
Globalstar, Inc. (a)(b)
 
211,109
272,331
IDT Corp. Class B
 
5,670
201,512
Iridium Communications, Inc.
 
34,871
1,073,678
Liberty Global Ltd.:
 
 
 
 Class A
 
49,578
788,042
 Class C (b)
 
52,549
860,227
Liberty Latin America Ltd.:
 
 
 
 Class A (a)
 
6,674
50,389
 Class C (a)(b)
 
39,980
301,449
Lumen Technologies, Inc. (a)(b)
 
284,265
338,275
Shenandoah Telecommunications Co.
 
13,929
178,570
 
 
 
6,762,422
Entertainment - 0.9%
 
 
 
AMC Entertainment Holdings, Inc. Class A (b)
 
74,177
217,339
Atlanta Braves Holdings, Inc.
 
11,318
423,633
Atlanta Braves Holdings, Inc. Class A
 
2,471
99,680
Cinemark Holdings, Inc. (a)(b)
 
29,862
511,835
Endeavor Group Holdings, Inc.
 
52,402
1,383,937
Eventbrite, Inc. (a)
 
23,401
123,557
Lions Gate Entertainment Corp.:
 
 
 
 Class A (a)(b)
 
20,616
208,015
 Class B (a)
 
33,364
314,623
Live Nation Entertainment, Inc. (a)
 
39,838
3,541,997
Madison Square Garden Entertainment Corp.
 
11,608
454,453
Madison Square Garden Sports Corp. (a)
 
4,673
868,804
Marcus Corp. (b)
 
7,064
92,115
Playtika Holding Corp.
 
19,077
138,308
Roku, Inc. Class A (a)
 
35,190
2,029,055
Skillz, Inc. (a)(b)
 
3,917
24,050
Sphere Entertainment Co. (a)
 
7,548
293,315
TKO Group Holdings, Inc.
 
16,846
1,594,811
Vivid Seats, Inc. Class A (a)
 
17,832
93,796
Warner Music Group Corp. Class A
 
39,602
1,306,866
 
 
 
13,720,189
Interactive Media & Services - 0.6%
 
 
 
Angi, Inc. (a)
 
23,876
50,378
Bumble, Inc. (a)
 
27,888
281,669
CarGurus, Inc. Class A (a)
 
24,179
543,060
Cars.com, Inc. (a)
 
17,361
290,102
EverQuote, Inc. Class A (a)
 
5,850
117,995
fuboTV, Inc. (a)(b)
 
82,019
116,467
IAC, Inc. (a)
 
19,573
930,892
Match Group, Inc. (a)
 
76,444
2,356,004
MediaAlpha, Inc. Class A (a)
 
5,596
113,319
Nextdoor Holdings, Inc. (a)
 
42,560
86,822
QuinStreet, Inc. (a)
 
14,630
264,657
Rumble, Inc. (a)(b)
 
20,805
146,883
Shutterstock, Inc. (b)
 
6,781
289,617
TripAdvisor, Inc. (a)
 
30,439
801,459
Vimeo, Inc. (a)
 
43,794
157,220
Yelp, Inc. (a)
 
19,275
775,626
Ziff Davis, Inc. (a)
 
12,942
648,524
ZipRecruiter, Inc. (a)
 
21,632
222,377
Zoominfo Technologies, Inc. (a)
 
83,354
1,321,994
 
 
 
9,515,065
Media - 1.0%
 
 
 
Advantage Solutions, Inc. Class A (a)(b)
 
27,750
118,215
Altice U.S.A., Inc. Class A (a)
 
63,188
121,953
AMC Networks, Inc. Class A (a)
 
8,156
86,617
Boston Omaha Corp. (a)
 
5,599
86,449
Cable One, Inc. (b)
 
1,282
504,916
Cardlytics, Inc. (a)
 
10,810
132,423
Clear Channel Outdoor Holdings, Inc. (a)
 
97,101
134,970
E.W. Scripps Co. Class A (a)
 
16,005
60,179
EchoStar Corp. Class A (a)
 
33,883
541,789
Entravision Communication Corp. Class A
 
16,325
34,119
Gannett Co., Inc. (a)(b)
 
40,017
96,841
Gray Television, Inc.
 
22,315
128,311
iHeartMedia, Inc. (a)
 
28,196
59,212
Integral Ad Science Holding Corp. (a)
 
19,068
182,862
John Wiley & Sons, Inc. Class A
 
11,941
448,623
Liberty Broadband Corp.:
 
 
 
 Class A (a)
 
7,089
355,372
 Class C (a)
 
29,814
1,482,650
Magnite, Inc. (a)
 
34,373
303,514
National CineMedia, Inc. (a)
 
27,382
117,195
News Corp.:
 
 
 
 Class A
 
104,076
2,477,009
 Class B
 
34,673
850,875
Nexstar Media Group, Inc. Class A
 
9,067
1,451,264
Paramount Global:
 
 
 
 Class A (b)
 
2,053
42,477
 Class B
 
137,013
1,560,578
PubMatic, Inc. (a)
 
11,699
262,526
Scholastic Corp.
 
7,483
266,544
Sinclair, Inc. Class A (b)
 
10,267
126,284
Sirius XM Holdings, Inc. (b)
 
183,598
539,778
Stagwell, Inc. (a)(b)
 
29,872
177,738
TechTarget, Inc. (a)
 
7,109
195,498
TEGNA, Inc.
 
55,399
755,642
The New York Times Co. Class A
 
46,025
1,980,456
Thryv Holdings, Inc. (a)
 
8,650
199,037
WideOpenWest, Inc. (a)
 
12,777
45,614
 
 
 
15,927,530
Wireless Telecommunication Services - 0.1%
 
 
 
Gogo, Inc. (a)
 
17,774
161,032
NII Holdings, Inc. (a)(c)
 
10,174
0
Spok Holdings, Inc.
 
5,402
83,461
Telephone & Data Systems, Inc.
 
27,748
434,256
U.S. Cellular Corp. (a)
 
3,862
140,422
 
 
 
819,171
TOTAL COMMUNICATION SERVICES
 
 
46,744,377
CONSUMER DISCRETIONARY - 12.9%
 
 
 
Automobile Components - 1.3%
 
 
 
Adient PLC (a)
 
25,636
765,747
American Axle & Manufacturing Holdings, Inc. (a)
 
32,762
240,473
Autoliv, Inc.
 
20,602
2,467,914
BorgWarner, Inc.
 
64,641
2,118,286
Cooper-Standard Holding, Inc. (a)
 
4,857
74,944
Dana, Inc.
 
36,210
450,090
Dorman Products, Inc. (a)
 
7,969
696,889
Fox Factory Holding Corp. (a)
 
11,928
464,238
Garrett Motion, Inc. (a)
 
39,582
378,404
Gentex Corp. (b)
 
65,339
2,241,128
Gentherm, Inc. (a)
 
9,230
466,761
Holley, Inc. (a)
 
13,801
55,480
LCI Industries
 
7,127
741,065
Lear Corp.
 
16,010
2,015,179
Luminar Technologies, Inc. (a)(b)
 
78,140
114,866
Mobileye Global, Inc. (a)(b)
 
21,565
594,116
Modine Manufacturing Co. (a)
 
14,701
1,361,754
Patrick Industries, Inc.
 
5,856
611,893
Phinia, Inc.
 
13,134
512,226
QuantumScape Corp. Class A (a)(b)
 
97,969
530,992
Solid Power, Inc. (a)(b)
 
33,246
56,186
Standard Motor Products, Inc.
 
5,231
167,915
Stoneridge, Inc. (a)
 
7,528
112,769
The Goodyear Tire & Rubber Co. (a)
 
79,725
953,511
Visteon Corp. (a)
 
7,827
865,901
XPEL, Inc. (a)
 
5,997
315,142
 
 
 
19,373,869
Automobiles - 0.4%
 
 
 
Canoo, Inc. (a)(b)
 
13,502
38,886
Harley-Davidson, Inc.
 
35,650
1,226,004
Lucid Group, Inc. Class A (a)(b)
 
251,279
640,761
Rivian Automotive, Inc. (a)(b)
 
189,745
1,688,731
Thor Industries, Inc.
 
15,004
1,491,698
Winnebago Industries, Inc.
 
8,215
505,880
 
 
 
5,591,960
Broadline Retail - 0.4%
 
 
 
Big Lots, Inc.
 
7,827
27,551
ContextLogic, Inc. (a)(b)
 
5,243
29,099
Dillard's, Inc. Class A (b)
 
972
425,726
Etsy, Inc. (a)
 
33,679
2,312,737
Groupon, Inc. (a)(b)
 
6,998
80,897
Kohl's Corp.
 
31,173
746,282
Macy's, Inc.
 
77,113
1,421,193
Nordstrom, Inc. (b)
 
27,431
521,463
Ollie's Bargain Outlet Holdings, Inc. (a)
 
17,333
1,267,736
Qurate Retail, Inc. Series A (a)
 
93,065
76,453
 
 
 
6,909,137
Diversified Consumer Services - 1.1%
 
 
 
ADT, Inc.
 
75,875
493,188
Adtalem Global Education, Inc. (a)
 
10,926
542,148
Allurion Technologies, Inc. (b)
 
10,066
20,233
Bright Horizons Family Solutions, Inc. (a)
 
16,290
1,689,436
Carriage Services, Inc.
 
3,771
96,462
Chegg, Inc. (a)
 
29,030
150,085
Coursera, Inc. (a)
 
29,798
304,536
Duolingo, Inc. (a)
 
10,072
2,273,754
European Wax Center, Inc. (a)(b)
 
9,498
111,696
Frontdoor, Inc. (a)
 
22,394
687,272
Graham Holdings Co.
 
1,007
706,280
Grand Canyon Education, Inc. (a)
 
8,312
1,080,726
H&R Block, Inc.
 
39,207
1,851,747
Laureate Education, Inc. Class A
 
38,015
551,218
Mister Car Wash, Inc. (a)(b)
 
25,512
170,675
Nerdy, Inc. Class A (a)
 
18,283
47,353
OneSpaWorld Holdings Ltd. (a)
 
25,011
318,140
Perdoceo Education Corp.
 
18,676
341,771
Service Corp. International
 
41,450
2,972,380
Strategic Education, Inc.
 
6,130
703,969
Stride, Inc. (a)
 
11,202
747,734
Udemy, Inc. (a)
 
24,808
248,576
Universal Technical Institute, Inc. (a)
 
10,502
159,840
WW International, Inc. (a)(b)
 
21,192
38,358
 
 
 
16,307,577
Hotels, Restaurants & Leisure - 2.9%
 
 
 
Accel Entertainment, Inc. (a)
 
16,151
173,462
Aramark
 
73,765
2,324,335
Bally's Corp. (a)
 
8,020
105,383
BJ's Restaurants, Inc. (a)
 
6,625
215,909
Bloomin' Brands, Inc.
 
24,439
630,282
Bowlero Corp. Class A (b)
 
10,338
121,472
Boyd Gaming Corp.
 
19,500
1,043,445
Brinker International, Inc. (a)
 
12,446
667,106
Caesars Entertainment, Inc. (a)
 
60,675
2,173,379
Carrols Restaurant Group, Inc.
 
8,296
78,978
Choice Hotels International, Inc. (b)
 
6,945
821,316
Churchill Downs, Inc.
 
19,079
2,461,191
Chuy's Holdings, Inc. (a)(b)
 
4,821
142,027
Cracker Barrel Old Country Store, Inc. (b)
 
6,256
364,037
Dave & Buster's Entertainment, Inc. (a)
 
9,060
483,804
Denny's Corp. (a)
 
14,932
119,755
Dine Brands Global, Inc.
 
4,262
187,954
Dutch Bros, Inc. (a)
 
19,576
551,260
El Pollo Loco Holdings, Inc. (a)
 
7,148
60,901
Everi Holdings, Inc. (a)
 
23,542
192,338
First Watch Restaurant Group, Inc. (a)
 
6,581
167,947
Golden Entertainment, Inc.
 
6,105
195,665
Hilton Grand Vacations, Inc. (a)
 
20,045
834,674
Hyatt Hotels Corp. Class A
 
12,435
1,850,204
Jack in the Box, Inc.
 
5,479
312,687
Krispy Kreme, Inc. (b)
 
23,853
301,740
Kura Sushi U.S.A., Inc. Class A (a)
 
1,544
169,964
Life Time Group Holdings, Inc. (a)(b)
 
16,493
225,294
Light & Wonder, Inc. Class A (a)
 
25,324
2,260,420
Lindblad Expeditions Holdings (a)(b)
 
9,863
72,394
Marriott Vacations Worldwide Corp.
 
9,289
892,766
Monarch Casino & Resort, Inc.
 
3,821
258,949
Norwegian Cruise Line Holdings Ltd. (a)
 
119,685
2,264,440
Papa John's International, Inc.
 
9,208
568,042
Penn Entertainment, Inc. (a)(b)
 
41,782
691,074
Planet Fitness, Inc. (a)
 
24,023
1,437,536
Playa Hotels & Resorts NV (a)
 
30,615
275,535
PlayAGS, Inc. (a)
 
10,570
93,439
Portillo's, Inc. (a)
 
13,489
165,375
Potbelly Corp. (a)
 
6,845
69,751
RCI Hospitality Holdings, Inc.
 
2,345
119,032
Red Robin Gourmet Burgers, Inc. (a)(b)
 
4,411
33,303
Red Rock Resorts, Inc.
 
13,673
726,310
Rush Street Interactive, Inc. (a)
 
17,753
113,442
Sabre Corp. (a)
 
106,473
305,578
Shake Shack, Inc. Class A (a)
 
10,554
1,117,141
Six Flags Entertainment Corp. (a)
 
20,335
479,499
Soho House & Co., Inc. Class A (a)(b)
 
10,251
53,408
Sweetgreen, Inc. Class A (a)(b)
 
25,751
578,625
Target Hospitality Corp. (a)
 
7,555
84,049
Texas Roadhouse, Inc. Class A
 
18,745
3,013,821
The Cheesecake Factory, Inc. (b)
 
13,190
455,319
Travel+Leisure Co.
 
20,347
885,908
United Parks & Resorts, Inc. (a)
 
10,076
512,062
Vail Resorts, Inc.
 
10,671
2,020,767
Wendy's Co.
 
46,824
936,012
Wingstop, Inc.
 
8,271
3,182,598
Wyndham Hotels & Resorts, Inc.
 
23,274
1,710,872
Wynn Resorts Ltd.
 
26,778
2,454,204
Xponential Fitness, Inc. (a)
 
6,550
83,513
 
 
 
44,891,693
Household Durables - 2.0%
 
 
 
Beazer Homes U.S.A., Inc. (a)
 
8,129
227,856
Cavco Industries, Inc. (a)
 
2,190
797,620
Century Communities, Inc.
 
7,969
632,101
Cricut, Inc.
 
13,761
73,209
Dream Finders Homes, Inc. (a)(b)
 
6,375
226,313
Ethan Allen Interiors, Inc.
 
6,360
179,606
GoPro, Inc. Class A (a)
 
34,671
59,981
Green Brick Partners, Inc. (a)
 
7,131
386,001
Helen of Troy Ltd. (a)(b)
 
6,691
620,323
Hovnanian Enterprises, Inc. Class A (a)
 
1,323
195,579
Installed Building Products, Inc.
 
6,600
1,555,818
iRobot Corp. (a)
 
7,419
63,507
KB Home
 
20,685
1,339,561
La-Z-Boy, Inc.
 
11,940
392,110
Landsea Homes Corp. (a)
 
3,200
36,960
Legacy Housing Corp. (a)
 
2,010
40,944
Leggett & Platt, Inc.
 
37,491
677,462
LGI Homes, Inc. (a)
 
5,772
519,076
Lovesac (a)
 
4,068
90,228
M/I Homes, Inc. (a)
 
7,848
912,095
Meritage Homes Corp.
 
10,258
1,700,161
Mohawk Industries, Inc. (a)
 
14,862
1,713,886
Newell Brands, Inc.
 
107,202
851,184
Purple Innovation, Inc.
 
16,686
25,363
SharkNinja, Inc.
 
13,682
879,479
Skyline Champion Corp. (a)
 
15,130
1,134,599
Sonos, Inc. (a)
 
34,565
584,149
Taylor Morrison Home Corp. (a)
 
30,234
1,693,406
Tempur Sealy International, Inc.
 
48,436
2,424,706
Toll Brothers, Inc.
 
29,274
3,486,826
TopBuild Corp. (a)
 
8,878
3,592,660
TRI Pointe Homes, Inc. (a)
 
27,324
1,006,889
Vizio Holding Corp. (a)(b)
 
28,183
298,740
Whirlpool Corp.
 
15,466
1,467,105
Worthington Enterprises, Inc.
 
8,595
491,290
ZAGG, Inc. rights (a)(c)
 
4,373
0
 
 
 
30,376,793
Leisure Products - 0.7%
 
 
 
Acushnet Holdings Corp. (b)
 
8,461
515,952
AMMO, Inc. (a)(b)
 
24,261
61,623
Brunswick Corp.
 
19,367
1,561,755
Clarus Corp.
 
8,258
52,273
Funko, Inc. (a)(b)
 
10,014
60,985
Hasbro, Inc.
 
36,646
2,246,400
JAKKS Pacific, Inc. (a)
 
1,973
37,309
Johnson Outdoors, Inc. Class A (b)
 
1,953
80,093
Malibu Boats, Inc. Class A (a)
 
5,838
198,609
MasterCraft Boat Holdings, Inc. (a)(b)
 
4,062
82,174
Mattel, Inc. (a)
 
99,292
1,819,029
Peloton Interactive, Inc. Class A (a)(b)
 
98,269
305,617
Polaris, Inc.
 
14,934
1,271,779
Smith & Wesson Brands, Inc.
 
12,690
215,349
Sturm, Ruger & Co., Inc.
 
4,985
230,457
Topgolf Callaway Brands Corp. (a)
 
39,973
640,367
Vista Outdoor, Inc. (a)
 
16,371
574,458
YETI Holdings, Inc. (a)(b)
 
24,446
873,211
 
 
 
10,827,440
Specialty Retail - 2.9%
 
 
 
1-800-FLOWERS.com, Inc. Class A (a)(b)
 
8,197
74,347
Abercrombie & Fitch Co. Class A (a)
 
14,189
1,724,247
Academy Sports & Outdoors, Inc.
 
20,871
1,216,779
Advance Auto Parts, Inc.
 
16,631
1,213,730
America's Car Mart, Inc. (a)
 
1,573
90,039
American Eagle Outfitters, Inc.
 
52,262
1,267,876
Arhaus, Inc. (b)
 
11,343
143,602
Arko Corp.
 
19,441
83,596
Asbury Automotive Group, Inc. (a)
 
5,787
1,216,659
AutoNation, Inc. (a)
 
7,293
1,175,267
Bath & Body Works, Inc.
 
63,534
2,885,714
Beyond, Inc. (a)
 
12,802
257,704
Boot Barn Holdings, Inc. (a)
 
8,534
908,615
Build-A-Bear Workshop, Inc.
 
3,628
109,420
Caleres, Inc.
 
9,441
347,712
Camping World Holdings, Inc.
 
11,833
239,855
CarParts.com, Inc. (a)
 
14,020
17,245
Carvana Co. Class A (a)(b)
 
28,873
2,394,149
Chewy, Inc. (a)(b)
 
33,854
507,471
Citi Trends, Inc. (a)(b)
 
2,295
49,205
Designer Brands, Inc. Class A (b)
 
11,955
111,062
Destination XL Group, Inc. (a)
 
15,458
49,620
Dick's Sporting Goods, Inc.
 
16,347
3,284,766
EVgo, Inc. Class A (a)(b)
 
25,945
46,960
Five Below, Inc. (a)
 
15,528
2,272,368
Floor & Decor Holdings, Inc. Class A (a)(b)
 
29,982
3,307,914
Foot Locker, Inc.
 
23,061
480,822
GameStop Corp. Class A (a)(b)
 
75,596
838,360
Gap, Inc.
 
60,528
1,242,035
Genesco, Inc. (a)
 
2,891
73,171
Group 1 Automotive, Inc.
 
3,730
1,096,695
GrowGeneration Corp. (a)(b)
 
16,164
48,330
Guess?, Inc. (b)
 
7,662
205,188
Haverty Furniture Companies, Inc.
 
3,628
111,742
Hibbett, Inc.
 
3,369
290,543
J. Jill, Inc. (a)
 
1,391
34,664
Leslie's, Inc. (a)(b)
 
52,601
206,722
Lithia Motors, Inc. Class A (sub. vtg.)
 
7,741
1,969,156
MarineMax, Inc. (a)
 
5,550
136,919
Monro, Inc. (b)
 
8,522
232,225
Murphy U.S.A., Inc.
 
5,325
2,203,592
National Vision Holdings, Inc. (a)
 
22,220
387,072
OneWater Marine, Inc. Class A (a)(b)
 
2,864
59,313
Penske Automotive Group, Inc.
 
5,460
834,889
Petco Health & Wellness Co., Inc. (a)(b)
 
21,921
32,882
PetMed Express, Inc. (b)
 
5,850
23,108
Revolve Group, Inc. (a)(b)
 
11,287
224,724
RH (a)
 
4,307
1,064,044
RumbleON, Inc. Class B (a)
 
4,990
25,748
Sally Beauty Holdings, Inc. (a)
 
29,609
321,258
Shoe Carnival, Inc.
 
4,942
165,260
Signet Jewelers Ltd.
 
12,475
1,222,924
Sleep Number Corp. (a)(b)
 
5,662
75,361
Sonic Automotive, Inc. Class A (sub. vtg.)
 
4,239
245,184
Sportsman's Warehouse Holdings, Inc. (a)
 
9,678
30,970
Stitch Fix, Inc. (a)
 
25,794
54,683
The Aaron's Co., Inc.
 
8,360
57,768
The Buckle, Inc.
 
8,301
310,374
The Children's Place, Inc. (a)(b)
 
3,469
24,144
The ODP Corp. (a)
 
9,354
476,212
The RealReal, Inc. (a)(b)
 
24,065
91,928
thredUP, Inc. (a)(b)
 
21,321
34,114
Upbound Group, Inc.
 
12,560
389,486
Urban Outfitters, Inc. (a)
 
15,939
620,983
Valvoline, Inc. (a)(b)
 
36,439
1,549,386
Victoria's Secret & Co. (a)
 
21,808
384,257
Warby Parker, Inc. (a)
 
21,369
250,872
Wayfair LLC Class A (a)(b)
 
25,957
1,301,744
Winmark Corp.
 
798
286,737
Zumiez, Inc. (a)
 
4,248
73,066
 
 
 
44,784,577
Textiles, Apparel & Luxury Goods - 1.2%
 
 
 
Capri Holdings Ltd. (a)
 
32,733
1,161,367
Carter's, Inc. (b)
 
10,350
708,044
Columbia Sportswear Co.
 
9,665
769,624
Crocs, Inc. (a)
 
17,038
2,119,016
Figs, Inc. Class A (a)(b)
 
34,366
175,610
G-III Apparel Group Ltd. (a)
 
11,463
322,683
Hanesbrands, Inc. (a)
 
98,536
449,324
Kontoor Brands, Inc.
 
14,067
872,998
Levi Strauss & Co. Class A
 
28,836
611,900
Movado Group, Inc.
 
4,286
109,164
Oxford Industries, Inc.
 
4,090
440,820
PVH Corp.
 
16,776
1,825,229
Ralph Lauren Corp.
 
10,953
1,792,349
Skechers U.S.A., Inc. Class A (sub. vtg.) (a)
 
37,560
2,480,838
Steven Madden Ltd.
 
19,731
797,330
Tapestry, Inc.
 
64,508
2,575,159
Under Armour, Inc.:
 
 
 
 Class A (sub. vtg.) (a)
 
50,981
343,102
 Class C (non-vtg.) (a)
 
55,996
365,094
Vera Bradley, Inc. (a)
 
6,456
42,545
VF Corp.
 
92,966
1,158,356
Wolverine World Wide, Inc.
 
22,283
239,319
 
 
 
19,359,871
TOTAL CONSUMER DISCRETIONARY
 
 
198,422,917
CONSUMER STAPLES - 4.1%
 
 
 
Beverages - 0.7%
 
 
 
Boston Beer Co., Inc. Class A (a)
 
2,648
737,230
Brown-Forman Corp. Class B (non-vtg.)
 
50,834
2,432,407
Celsius Holdings, Inc. (a)
 
41,716
2,973,099
Coca-Cola Consolidated, Inc.
 
1,319
1,089,494
Duckhorn Portfolio, Inc. (a)
 
11,660
98,760
MGP Ingredients, Inc. (b)
 
4,427
347,254
Molson Coors Beverage Co. Class B
 
51,943
2,974,256
National Beverage Corp. (a)(b)
 
6,554
291,653
The Vita Coco Co., Inc. (a)
 
8,622
208,997
 
 
 
11,153,150
Consumer Staples Distribution & Retail - 1.3%
 
 
 
Albertsons Companies, Inc.
 
112,999
2,305,180
Andersons, Inc.
 
8,901
489,021
BJ's Wholesale Club Holdings, Inc. (a)
 
37,511
2,801,321
Blue Apron Holdings, Inc.:
 
 
 
 warrants 11/4/28 (a)(c)
 
2,335
0
 warrants 11/4/28 (a)(c)
 
2,335
0
 warrants 11/4/28 (a)(c)
 
2,335
0
Casey's General Stores, Inc.
 
10,416
3,328,745
Chefs' Warehouse Holdings (a)
 
10,001
330,833
Grocery Outlet Holding Corp. (a)
 
27,910
724,823
Ingles Markets, Inc. Class A
 
4,070
292,023
Performance Food Group Co. (a)
 
43,654
2,963,234
PriceSmart, Inc.
 
7,047
567,918
SpartanNash Co.
 
9,513
181,603
Sprouts Farmers Market LLC (a)
 
28,561
1,885,883
U.S. Foods Holding Corp. (a)
 
63,480
3,189,870
United Natural Foods, Inc. (a)
 
17,113
152,819
Weis Markets, Inc.
 
4,645
293,239
 
 
 
19,506,512
Food Products - 1.3%
 
 
 
B&G Foods, Inc. Class A
 
22,037
244,611
Beyond Meat, Inc. (a)(b)
 
17,749
120,338
BRC, Inc. Class A (a)(b)
 
11,260
43,914
Cal-Maine Foods, Inc.
 
11,464
634,303
Calavo Growers, Inc.
 
4,938
133,079
Campbell Soup Co.
 
55,289
2,527,260
Darling Ingredients, Inc. (a)
 
44,886
1,901,820
Flowers Foods, Inc.
 
53,921
1,344,790
Fresh Del Monte Produce, Inc.
 
9,578
244,909
Freshpet, Inc. (a)
 
13,571
1,439,476
Hormel Foods Corp.
 
81,480
2,897,429
Ingredion, Inc.
 
18,308
2,097,914
J&J Snack Foods Corp.
 
4,358
598,310
John B. Sanfilippo & Son, Inc.
 
2,533
252,540
Lancaster Colony Corp.
 
5,726
1,092,578
Mission Produce, Inc. (a)(b)
 
11,561
131,217
Pilgrim's Pride Corp. (a)
 
11,329
408,071
Post Holdings, Inc. (a)
 
14,144
1,501,386
Seaboard Corp.
 
69
228,398
Seneca Foods Corp. Class A (a)
 
1,342
77,957
The Hain Celestial Group, Inc. (a)
 
24,549
150,731
The Simply Good Foods Co. (a)
 
25,567
931,917
Tootsie Roll Industries, Inc.
 
4,876
144,866
TreeHouse Foods, Inc. (a)
 
14,150
531,333
Utz Brands, Inc. Class A (b)
 
19,173
345,689
Vital Farms, Inc. (a)
 
7,610
203,644
Westrock Coffee Holdings (a)(b)
 
7,714
78,220
Whole Earth Brands, Inc. Class A (a)(b)
 
9,100
43,862
WK Kellogg Co.
 
18,551
432,980
 
 
 
20,783,542
Household Products - 0.2%
 
 
 
Central Garden & Pet Co. (a)
 
2,678
109,664
Central Garden & Pet Co. Class A (non-vtg.)
 
15,186
538,040
Energizer Holdings, Inc.
 
18,713
537,437
Reynolds Consumer Products, Inc.
 
15,168
434,260
Spectrum Brands Holdings, Inc.
 
8,505
696,304
WD-40 Co.
 
3,816
862,912
 
 
 
3,178,617
Personal Care Products - 0.5%
 
 
 
BellRing Brands, Inc. (a)
 
36,804
2,030,477
Coty, Inc. Class A (a)
 
105,737
1,209,631
Edgewell Personal Care Co.
 
13,980
525,928
elf Beauty, Inc. (a)
 
15,618
2,538,394
Herbalife Ltd. (a)
 
27,781
240,306
Inter Parfums, Inc.
 
5,040
586,555
MediFast, Inc. (b)
 
2,925
80,525
Nu Skin Enterprises, Inc. Class A
 
13,855
162,935
Olaplex Holdings, Inc. (a)
 
31,684
44,041
The Beauty Health Co. (a)
 
22,147
71,535
The Honest Co., Inc. (a)
 
18,144
54,613
USANA Health Sciences, Inc. (a)
 
3,007
124,851
 
 
 
7,669,791
Tobacco - 0.1%
 
 
 
Turning Point Brands, Inc.
 
4,920
141,893
Universal Corp.
 
6,951
357,490
Vector Group Ltd.
 
37,138
384,378
 
 
 
883,761
TOTAL CONSUMER STAPLES
 
 
63,175,373
ENERGY - 5.3%
 
 
 
Energy Equipment & Services - 1.5%
 
 
 
Archrock, Inc.
 
38,632
741,348
Atlas Energy Solutions, Inc. (b)
 
14,964
332,350
Bristow Group, Inc. (a)
 
6,636
174,593
Cactus, Inc.
 
18,396
913,177
Championx Corp.
 
53,628
1,800,292
Core Laboratories, Inc.
 
13,257
209,461
Diamond Offshore Drilling, Inc. (a)
 
28,834
352,928
DMC Global, Inc. (a)
 
5,457
86,493
Dril-Quip, Inc. (a)
 
9,561
173,819
Expro Group Holdings NV (a)
 
24,317
456,187
Helix Energy Solutions Group, Inc. (a)
 
40,044
430,073
Helmerich & Payne, Inc.
 
27,810
1,093,767
KLX Energy Services Holdings, Inc. (a)(b)
 
3,990
26,454
Kodiak Gas Services, Inc.
 
6,281
170,718
Liberty Oilfield Services, Inc. Class A
 
42,722
939,884
Nabors Industries Ltd. (a)(b)
 
2,538
182,812
Newpark Resources, Inc. (a)
 
20,342
141,173
Noble Corp. PLC
 
31,288
1,388,561
NOV, Inc.
 
110,810
2,048,877
Oceaneering International, Inc. (a)
 
28,374
650,048
Oil States International, Inc. (a)
 
17,300
69,027
Patterson-UTI Energy, Inc.
 
90,450
978,669
ProPetro Holding Corp. (a)
 
23,699
206,655
Ranger Energy Services, Inc. Class A
 
4,056
39,911
RPC, Inc.
 
23,549
157,543
SEACOR Marine Holdings, Inc. (a)
 
7,015
85,723
Select Water Solutions, Inc. Class A
 
22,324
206,274
Solaris Oilfield Infrastructure, Inc. Class A
 
7,768
68,436
TechnipFMC PLC
 
122,196
3,130,662
TETRA Technologies, Inc. (a)
 
32,229
138,262
Tidewater, Inc. (a)
 
13,685
1,256,967
Transocean Ltd. (United States) (a)(b)
 
200,059
1,044,308
U.S. Silica Holdings, Inc. (a)
 
21,436
330,757
Valaris Ltd. (a)
 
17,635
1,147,333
Weatherford International PLC (a)
 
20,345
2,515,049
 
 
 
23,688,591
Oil, Gas & Consumable Fuels - 3.8%
 
 
 
Aemetis, Inc. (a)(b)
 
10,087
39,339
Amplify Energy Corp. (a)
 
9,847
69,520
Antero Midstream GP LP
 
95,553
1,322,454
Antero Resources Corp. (a)
 
79,466
2,702,639
APA Corp.
 
101,608
3,194,556
Ardmore Shipping Corp.
 
11,524
193,027
Berry Corp.
 
18,955
160,928
California Resources Corp.
 
18,152
959,515
Centrus Energy Corp. Class A (a)
 
3,718
159,614
Chesapeake Energy Corp.
 
31,255
2,809,199
Chord Energy Corp.
 
11,614
2,055,446
Civitas Resources, Inc.
 
24,151
1,737,906
Clean Energy Fuels Corp. (a)(b)
 
47,811
110,922
CNX Resources Corp. (a)
 
42,667
1,003,528
Comstock Resources, Inc. (b)
 
25,664
258,180
CONSOL Energy, Inc.
 
7,497
620,452
Crescent Energy, Inc. Class A
 
23,404
249,019
CVR Energy, Inc.
 
8,125
246,838
Delek U.S. Holdings, Inc.
 
16,750
457,778
Dorian LPG Ltd.
 
9,609
397,044
DT Midstream, Inc.
 
27,215
1,692,773
EQT Corp.
 
115,496
4,630,235
Equitrans Midstream Corp.
 
121,839
1,648,482
Evolution Petroleum Corp.
 
9,327
50,366
Excelerate Energy, Inc.
 
4,771
80,439
FutureFuel Corp.
 
7,302
39,577
Gevo, Inc. (a)(b)
 
63,829
42,051
Granite Ridge Resources, Inc.
 
7,143
46,572
Green Plains, Inc. (a)
 
18,101
374,148
Gulfport Energy Corp. (a)
 
2,714
430,739
Hallador Energy Co. (a)
 
6,635
33,905
HF Sinclair Corp.
 
43,882
2,380,599
International Seaways, Inc.
 
10,601
586,129
Kinetik Holdings, Inc.
 
9,805
375,924
Kosmos Energy Ltd. (a)
 
129,585
734,747
Magnolia Oil & Gas Corp. Class A (b)
 
52,145
1,307,275
Matador Resources Co.
 
31,183
1,942,701
Murphy Oil Corp.
 
40,809
1,821,714
New Fortress Energy, Inc. (b)
 
18,468
483,862
Nextdecade Corp. (a)(b)
 
22,355
143,519
Northern Oil & Gas, Inc.
 
25,697
1,048,181
Overseas Shipholding Group, Inc.
 
14,885
90,501
Par Pacific Holdings, Inc. (a)
 
15,694
483,375
PBF Energy, Inc. Class A
 
30,602
1,630,169
Peabody Energy Corp.
 
30,992
679,964
Permian Resource Corp. Class A
 
129,524
2,169,527
Range Resources Corp.
 
67,873
2,437,319
Rex American Resources Corp. (a)
 
4,221
233,548
Riley Exploration Permian, Inc.
 
1,138
29,508
Ring Energy, Inc. (a)(b)
 
11,484
21,820
SandRidge Energy, Inc.
 
8,976
122,971
Scorpio Tankers, Inc.
 
12,125
853,115
SilverBow Resources, Inc. (a)
 
4,140
127,181
Sitio Royalties Corp. (b)
 
23,077
536,309
SM Energy Co.
 
32,575
1,579,562
Southwestern Energy Co. (a)
 
309,772
2,320,192
Talos Energy, Inc. (a)
 
37,988
500,682
Teekay Corp. (a)
 
17,696
129,535
Teekay Tankers Ltd.
 
6,883
401,072
Tellurian, Inc. (a)(b)
 
200,200
86,106
Texas Pacific Land Corp.
 
5,246
3,023,270
Uranium Energy Corp. (a)(b)
 
110,700
747,225
VAALCO Energy, Inc.
 
28,977
185,453
Vertex Energy, Inc. (a)(b)
 
22,040
28,652
Vital Energy, Inc. (a)(b)
 
7,030
372,731
Vitesse Energy, Inc. (b)
 
6,156
136,602
W&T Offshore, Inc. (b)
 
25,534
57,452
World Kinect Corp.
 
17,084
401,474
 
 
 
58,027,157
TOTAL ENERGY
 
 
81,715,748
FINANCIALS - 16.1%
 
 
 
Banks - 5.4%
 
 
 
1st Source Corp.
 
4,782
237,187
Amalgamated Financial Corp.
 
4,914
120,590
Amerant Bancorp, Inc. Class A
 
7,455
161,475
Ameris Bancorp
 
18,221
865,133
Arrow Financial Corp.
 
4,850
108,010
Associated Banc-Corp.
 
41,866
882,117
Atlantic Union Bankshares Corp.
 
25,181
800,000
Axos Financial, Inc. (a)
 
14,299
723,672
Banc of California, Inc.
 
39,030
534,321
BancFirst Corp.
 
4,098
365,419
Bancorp, Inc., Delaware (a)
 
15,122
452,753
Bank First National Corp.
 
2,367
182,709
Bank of Hawaii Corp. (b)
 
11,204
635,155
Bank OZK (b)
 
29,615
1,322,310
BankUnited, Inc.
 
20,962
560,314
Banner Corp.
 
9,674
422,077
Berkshire Hills Bancorp, Inc.
 
12,204
260,189
BOK Financial Corp.
 
7,662
679,849
Brookline Bancorp, Inc., Delaware
 
24,471
203,109
Byline Bancorp, Inc.
 
8,141
176,415
Cadence Bank
 
51,413
1,422,598
Cambridge Bancorp
 
2,169
133,112
Camden National Corp.
 
3,990
124,568
Capitol Federal Financial, Inc.
 
34,595
165,018
Cathay General Bancorp
 
20,475
705,159
Central Pacific Financial Corp.
 
7,472
148,992
City Holding Co.
 
4,170
421,253
Coastal Financial Corp. of Washington (a)
 
3,045
117,781
Columbia Banking Systems, Inc.
 
58,732
1,104,749
Columbia Financial, Inc. (a)(b)
 
7,630
126,658
Comerica, Inc.
 
37,111
1,861,859
Commerce Bancshares, Inc.
 
33,287
1,820,133
Community Bank System, Inc.
 
15,015
648,948
Community Trust Bancorp, Inc.
 
4,242
178,206
ConnectOne Bancorp, Inc.
 
10,381
185,924
CrossFirst Bankshares, Inc. (a)
 
11,822
142,810
Cullen/Frost Bankers, Inc.
 
18,049
1,883,233
Customers Bancorp, Inc. (a)
 
7,990
364,903
CVB Financial Corp.
 
37,289
609,302
Dime Community Bancshares, Inc.
 
9,618
175,048
Eagle Bancorp, Inc.
 
8,179
151,230
East West Bancorp, Inc.
 
39,647
2,953,305
Eastern Bankshares, Inc.
 
44,207
555,240
Enterprise Financial Services Corp.
 
10,544
400,777
Equity Bancshares, Inc.
 
3,773
125,679
Esquire Financial Holdings, Inc.
 
1,793
84,379
FB Financial Corp.
 
9,914
363,348
First Bancorp, North Carolina
 
11,713
356,192
First Bancorp, Puerto Rico
 
47,387
817,426
First Bancshares, Inc.
 
7,585
181,585
First Busey Corp.
 
14,842
331,570
First Commonwealth Financial Corp.
 
28,828
380,241
First Financial Bancorp, Ohio
 
26,751
591,465
First Financial Bankshares, Inc. (b)
 
36,158
1,068,830
First Financial Corp., Indiana
 
2,916
106,172
First Foundation, Inc.
 
13,935
76,364
First Hawaiian, Inc.
 
35,920
757,553
First Horizon National Corp.
 
157,166
2,344,917
First Interstate Bancsystem, Inc.
 
23,159
618,345
First Merchants Corp.
 
16,817
562,024
First Mid-Illinois Bancshares, Inc.
 
6,220
192,571
First of Long Island Corp.
 
5,690
53,884
Flushing Financial Corp.
 
7,973
87,862
FNB Corp., Pennsylvania
 
100,785
1,344,472
Fulton Financial Corp.
 
46,088
762,756
German American Bancorp, Inc.
 
8,464
268,563
Glacier Bancorp, Inc.
 
31,215
1,129,359
Great Southern Bancorp, Inc.
 
2,545
130,813
Hancock Whitney Corp.
 
24,253
1,100,844
Hanmi Financial Corp.
 
8,395
128,444
HarborOne Bancorp, Inc.
 
10,867
110,083
Heartland Financial U.S.A., Inc.
 
10,968
461,862
Heritage Commerce Corp.
 
16,844
133,741
Heritage Financial Corp., Washington
 
9,572
169,807
Hilltop Holdings, Inc.
 
12,832
375,464
Hingham Institution for Savings
 
483
81,579
Home Bancshares, Inc.
 
52,693
1,247,770
HomeStreet, Inc.
 
4,828
59,143
Hope Bancorp, Inc.
 
33,917
339,848
Horizon Bancorp, Inc. Indiana
 
10,811
124,110
Independent Bank Corp.
 
6,079
150,820
Independent Bank Corp.
 
12,028
604,287
Independent Bank Group, Inc.
 
10,027
373,405
International Bancshares Corp.
 
15,020
835,863
Kearny Financial Corp.
 
17,484
94,414
Lakeland Bancorp, Inc.
 
17,890
218,079
Lakeland Financial Corp.
 
7,170
421,381
Live Oak Bancshares, Inc.
 
9,303
300,673
Mercantile Bank Corp.
 
4,172
150,526
Metropolitan Bank Holding Corp. (a)
 
3,010
119,497
Midland States Bancorp, Inc.
 
5,966
130,655
National Bank Holdings Corp.
 
10,668
349,164
NBT Bancorp, Inc.
 
13,262
464,303
New York Community Bancorp, Inc.
 
203,207
538,499
Nicolet Bankshares, Inc.
 
3,672
281,018
Northfield Bancorp, Inc.
 
10,838
90,389
Northwest Bancshares, Inc.
 
35,787
379,342
OceanFirst Financial Corp.
 
16,926
249,828
OFG Bancorp
 
13,301
480,299
Old National Bancorp, Indiana
 
88,246
1,459,589
Old Second Bancorp, Inc.
 
11,070
151,659
Origin Bancorp, Inc.
 
8,349
247,965
Pacific Premier Bancorp, Inc.
 
27,016
580,844
Park National Corp. (b)
 
4,040
532,108
Pathward Financial, Inc.
 
7,079
356,569
Peapack-Gladstone Financial Corp.
 
4,281
95,809
Peoples Bancorp, Inc.
 
9,446
274,312
Pinnacle Financial Partners, Inc.
 
21,406
1,641,840
Popular, Inc.
 
20,291
1,724,532
Preferred Bank, Los Angeles (b)
 
3,609
273,165
Premier Financial Corp.
 
10,265
198,936
Prosperity Bancshares, Inc.
 
26,338
1,632,166
Provident Financial Services, Inc.
 
21,219
311,495
QCR Holdings, Inc.
 
4,801
263,863
Renasant Corp.
 
15,812
459,497
S&T Bancorp, Inc.
 
10,758
324,354
Sandy Spring Bancorp, Inc.
 
12,719
260,104
Seacoast Banking Corp., Florida
 
23,868
550,635
ServisFirst Bancshares, Inc.
 
13,801
813,707
Simmons First National Corp. Class A
 
35,242
602,286
Southside Bancshares, Inc.
 
8,144
217,119
Southstate Corp.
 
21,395
1,619,602
Stellar Bancorp, Inc.
 
13,278
294,772
Stock Yards Bancorp, Inc. (b)
 
7,642
340,451
Synovus Financial Corp.
 
41,149
1,472,723
Texas Capital Bancshares, Inc. (a)
 
13,359
766,807
TFS Financial Corp.
 
14,408
173,040
Tompkins Financial Corp.
 
3,634
159,823
TowneBank
 
19,399
501,852
Trico Bancshares
 
9,459
328,889
Triumph Bancorp, Inc. (a)
 
6,084
428,070
Trustco Bank Corp., New York
 
5,468
145,558
Trustmark Corp.
 
17,186
508,706
UMB Financial Corp.
 
12,298
979,659
United Bankshares, Inc., West Virginia
 
37,855
1,228,773
United Community Bank, Inc.
 
33,507
845,382
Univest Corp. of Pennsylvania
 
8,063
168,275
Valley National Bancorp
 
120,090
841,831
Veritex Holdings, Inc.
 
15,464
301,239
WaFd, Inc.
 
19,132
518,286
Washington Trust Bancorp, Inc.
 
5,003
127,376
Webster Financial Corp.
 
48,414
2,121,986
WesBanco, Inc.
 
16,796
453,492
Westamerica Bancorp.
 
7,530
350,522
Western Alliance Bancorp.
 
30,561
1,736,782
Wintrust Financial Corp.
 
17,226
1,664,721
WSFS Financial Corp.
 
17,061
729,017
Zions Bancorporation NA
 
41,692
1,700,200
 
 
 
82,875,505
Capital Markets - 3.1%
 
 
 
Affiliated Managers Group, Inc.
 
9,498
1,482,638
Artisan Partners Asset Management, Inc.
 
19,340
791,586
Assetmark Financial Holdings, Inc. (a)
 
6,207
209,859
B. Riley Financial, Inc. (b)
 
4,437
152,633
BGC Group, Inc. Class A
 
108,850
852,296
Blue Owl Capital, Inc. Class A
 
113,904
2,151,647
Bridge Investment Group Holdings, Inc.
 
8,465
55,700
BrightSphere Investment Group, Inc.
 
8,854
196,913
Carlyle Group LP
 
60,887
2,727,738
Cohen & Steers, Inc.
 
7,214
496,179
Diamond Hill Investment Group, Inc.
 
797
118,928
Donnelley Financial Solutions, Inc. (a)
 
6,980
438,204
Evercore, Inc. Class A
 
9,760
1,771,440
Federated Hermes, Inc.
 
22,954
754,039
Forge Global Holdings, Inc. Class A (a)
 
32,265
59,045
Franklin Resources, Inc.
 
84,399
1,927,673
GCM Grosvenor, Inc. Class A
 
11,718
110,618
Hamilton Lane, Inc. Class A
 
10,325
1,153,509
Houlihan Lokey
 
14,658
1,868,748
Interactive Brokers Group, Inc.
 
30,050
3,459,356
Invesco Ltd.
 
126,385
1,790,875
Janus Henderson Group PLC
 
37,216
1,161,884
Jefferies Financial Group, Inc.
 
47,610
2,050,087
Lazard, Inc. Class A
 
31,717
1,221,105
MarketAxess Holdings, Inc.
 
10,664
2,133,760
Moelis & Co. Class A
 
18,780
921,722
Morningstar, Inc.
 
7,308
2,065,606
Open Lending Corp. (a)
 
27,111
138,266
Oppenheimer Holdings, Inc. Class A (non-vtg.)
 
1,847
73,972
P10, Inc.
 
12,554
89,133
Perella Weinberg Partners Class A
 
12,409
185,142
Piper Jaffray Companies
 
4,285
838,960
PJT Partners, Inc.
 
6,281
593,492
Robinhood Markets, Inc. (a)
 
145,330
2,396,492
SEI Investments Co.
 
27,756
1,830,508
StepStone Group, Inc. Class A
 
14,646
528,281
Stifel Financial Corp.
 
28,673
2,291,546
StoneX Group, Inc. (a)
 
7,636
554,374
TPG, Inc.
 
21,531
927,986
Tradeweb Markets, Inc. Class A
 
32,480
3,303,541
Victory Capital Holdings, Inc.
 
10,065
511,906
Virtu Financial, Inc. Class A
 
25,418
551,571
Virtus Investment Partners, Inc.
 
1,905
417,805
WisdomTree Investments, Inc.
 
30,921
275,197
 
 
 
47,631,960
Consumer Finance - 0.9%
 
 
 
Ally Financial, Inc.
 
76,376
2,929,020
Bread Financial Holdings, Inc.
 
13,907
513,307
Credit Acceptance Corp. (a)
 
1,758
903,120
Encore Capital Group, Inc. (a)(b)
 
6,657
273,536
Enova International, Inc. (a)
 
8,168
494,409
EZCORP, Inc. (non-vtg.) Class A (a)(b)
 
14,599
160,297
FirstCash Holdings, Inc.
 
10,388
1,173,636
Green Dot Corp. Class A (a)
 
12,620
110,425
LendingClub Corp. (a)
 
31,395
236,090
LendingTree, Inc. (a)
 
2,977
143,700
MoneyLion, Inc. (a)
 
1,511
100,194
Navient Corp.
 
22,804
342,516
Nelnet, Inc. Class A
 
4,978
468,828
NerdWallet, Inc. (a)
 
10,840
136,259
OneMain Holdings, Inc.
 
33,693
1,755,742
PRA Group, Inc. (a)
 
11,003
261,761
PROG Holdings, Inc.
 
12,521
416,198
SLM Corp.
 
61,849
1,310,580
SoFi Technologies, Inc. (a)(b)
 
274,563
1,861,537
Upstart Holdings, Inc. (a)(b)
 
20,594
455,745
World Acceptance Corp. (a)
 
938
129,041
 
 
 
14,175,941
Financial Services - 2.2%
 
 
 
A-Mark Precious Metals, Inc. (b)
 
4,780
191,535
Affirm Holdings, Inc. (a)
 
66,457
2,118,649
AvidXchange Holdings, Inc. (a)
 
48,082
560,636
Cannae Holdings, Inc. (a)
 
15,983
310,869
Cantaloupe, Inc. (a)
 
15,278
88,460
Cass Information Systems, Inc.
 
3,536
152,720
Corebridge Financial, Inc.
 
67,300
1,787,488
Enact Holdings, Inc.
 
8,417
250,237
Equitable Holdings, Inc.
 
88,049
3,249,889
Essent Group Ltd.
 
29,989
1,588,517
Euronet Worldwide, Inc. (a)
 
12,325
1,265,531
EVERTEC, Inc.
 
18,044
677,191
Federal Agricultural Mortgage Corp. Class C (non-vtg.)
 
2,623
488,219
Flywire Corp. (a)
 
29,965
614,283
i3 Verticals, Inc. Class A (a)
 
6,581
149,455
International Money Express, Inc. (a)
 
9,775
197,748
Jackson Financial, Inc.
 
19,916
1,360,661
Marqeta, Inc. Class A (a)
 
119,808
664,934
Merchants Bancorp
 
7,417
299,128
MGIC Investment Corp.
 
76,331
1,547,993
Mr. Cooper Group, Inc. (a)
 
18,120
1,398,864
NCR Atleos Corp.
 
18,827
375,222
Newtekone, Inc. (b)
 
6,685
72,131
NMI Holdings, Inc. (a)
 
22,853
705,244
Paymentus Holdings, Inc. (a)
 
4,960
101,234
Payoneer Global, Inc. (a)
 
73,759
364,369
PennyMac Financial Services, Inc.
 
8,151
698,052
Radian Group, Inc.
 
43,091
1,287,128
Remitly Global, Inc. (a)
 
38,035
678,164
Repay Holdings Corp. (a)
 
20,868
212,228
Rocket Companies, Inc. (a)(b)
 
35,746
438,961
Sezzle, Inc. (b)
 
821
41,567
Shift4 Payments, Inc. (a)(b)
 
16,018
926,801
The Western Union Co.
 
98,594
1,325,103
Toast, Inc. (a)
 
105,297
2,488,168
UWM Holdings Corp. Class A (b)
 
26,033
164,008
Voya Financial, Inc.
 
28,965
1,974,254
Walker & Dunlop, Inc.
 
9,422
863,338
WEX, Inc. (a)
 
11,990
2,533,007
 
 
 
34,211,986
Insurance - 3.5%
 
 
 
AMBAC Financial Group, Inc. (a)
 
12,953
187,171
American Coastal Insurance Cor (a)
 
5,711
59,794
American Equity Investment Life Holding Co.
 
17,379
975,136
American Financial Group, Inc.
 
18,316
2,339,869
Amerisafe, Inc.
 
5,316
242,410
Assurant, Inc.
 
14,571
2,541,182
Assured Guaranty Ltd.
 
15,288
1,172,590
Axis Capital Holdings Ltd.
 
21,806
1,337,362
Brighthouse Financial, Inc. (a)
 
18,052
871,009
CNO Financial Group, Inc.
 
30,715
808,726
eHealth, Inc. (a)
 
7,751
33,174
Employers Holdings, Inc.
 
7,262
309,289
Enstar Group Ltd. (a)
 
3,738
1,085,403
Erie Indemnity Co. Class A
 
7,005
2,680,533
First American Financial Corp.
 
29,017
1,554,441
Genworth Financial, Inc. Class A (a)
 
126,846
752,197
Globe Life, Inc.
 
24,096
1,835,392
Goosehead Insurance (a)(b)
 
6,896
392,451
Hanover Insurance Group, Inc.
 
10,053
1,305,080
HCI Group, Inc.
 
1,926
219,911
Hippo Holdings, Inc. (a)(b)
 
4,349
93,025
Horace Mann Educators Corp.
 
11,470
422,784
James River Group Holdings Ltd.
 
10,409
92,536
Kemper Corp.
 
17,008
991,736
Kinsale Capital Group, Inc.
 
6,193
2,249,607
Lemonade, Inc. (a)(b)
 
17,607
303,369
Lincoln National Corp.
 
47,738
1,301,815
Loews Corp.
 
50,920
3,826,638
MBIA, Inc. (b)
 
12,043
75,750
Mercury General Corp.
 
7,480
390,905
National Western Life Group, Inc.
 
620
303,068
Old Republic International Corp.
 
73,076
2,182,049
Oscar Health, Inc. (a)
 
40,859
709,721
Palomar Holdings, Inc. (a)
 
6,966
548,015
Primerica, Inc.
 
9,855
2,087,880
ProAssurance Corp.
 
14,302
191,075
Reinsurance Group of America, Inc.
 
18,486
3,456,697
RenaissanceRe Holdings Ltd.
 
14,798
3,244,462
RLI Corp.
 
11,285
1,595,135
Root, Inc. (a)(b)
 
2,247
156,504
Ryan Specialty Group Holdings, Inc.
 
28,596
1,410,927
Safety Insurance Group, Inc.
 
4,162
331,170
Selective Insurance Group, Inc.
 
17,049
1,733,031
Siriuspoint Ltd. (a)
 
25,676
302,463
Skyward Specialty Insurance Group, Inc. (a)
 
9,124
318,610
Stewart Information Services Corp.
 
7,718
478,593
The Baldwin Insurance Group, Inc. (a)
 
18,107
482,370
Tiptree, Inc.
 
6,060
96,536
Trupanion, Inc. (a)(b)
 
9,836
221,310
United Fire Group, Inc.
 
5,906
130,464
Universal Insurance Holdings, Inc.
 
7,208
140,700
Unum Group
 
51,106
2,591,074
White Mountains Insurance Group Ltd.
 
709
1,260,701
 
 
 
54,423,840
Mortgage Real Estate Investment Trusts - 1.0%
 
 
 
AGNC Investment Corp.
 
195,531
1,789,109
Annaly Capital Management, Inc.
 
140,799
2,638,573
Apollo Commercial Real Estate Finance, Inc.
 
37,339
359,575
Arbor Realty Trust, Inc. (b)
 
53,230
682,941
Ares Commercial Real Estate Corp.
 
14,873
100,988
Armour Residential REIT, Inc. (b)
 
14,126
256,669
Blackstone Mortgage Trust, Inc. (b)
 
48,684
858,786
BrightSpire Capital, Inc.
 
37,462
235,636
Chimera Investment Corp.
 
64,532
265,872
Claros Mortgage Trust, Inc.
 
34,301
298,419
Dynex Capital, Inc.
 
16,563
193,290
Ellington Financial LLC
 
22,894
261,907
Ellington Residential Mortgage REIT
 
5,366
35,469
Franklin BSP Realty Trust, Inc.
 
23,713
296,175
Granite Point Mortgage Trust, Inc.
 
14,561
62,467
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (b)
 
31,397
785,239
Invesco Mortgage Capital, Inc.
 
13,459
115,074
KKR Real Estate Finance Trust, Inc.
 
16,454
154,832
Ladder Capital Corp. Class A
 
32,716
351,043
MFA Financial, Inc.
 
29,337
310,679
New York Mortgage Trust, Inc.
 
26,243
179,765
Orchid Island Capital, Inc. (b)
 
14,425
120,160
PennyMac Mortgage Investment Trust
 
24,710
342,234
Ready Capital Corp.
 
44,546
379,532
Redwood Trust, Inc.
 
37,722
208,603
Rithm Capital Corp.
 
136,650
1,519,548
Starwood Property Trust, Inc. (b)
 
84,170
1,596,705
TPG RE Finance Trust, Inc.
 
16,831
123,371
Two Harbors Investment Corp.
 
29,247
369,390
 
 
 
14,892,051
TOTAL FINANCIALS
 
 
248,211,283
HEALTH CARE - 12.5%
 
 
 
Biotechnology - 5.2%
 
 
 
2seventy bio, Inc. (a)(b)
 
13,418
61,186
4D Molecular Therapeutics, Inc. (a)
 
10,432
249,638
89Bio, Inc. (a)(b)
 
22,087
187,960
Absci Corp. (a)
 
17,917
84,927
ACADIA Pharmaceuticals, Inc. (a)
 
33,744
563,862
Acelyrin, Inc.
 
8,369
34,982
Actinium Pharmaceuticals, Inc. (a)(b)
 
7,812
60,152
Acumen Pharmaceuticals, Inc. (a)(b)
 
7,593
24,449
Adicet Bio, Inc. (a)
 
16,066
23,938
ADMA Biologics, Inc. (a)
 
59,754
389,596
Adverum Biotechnologies, Inc. (a)
 
5,093
49,504
Aerovate Therapeutics, Inc. (a)
 
3,741
74,857
Agenus, Inc. (b)
 
4,589
55,619
Agios Pharmaceuticals, Inc. (a)
 
15,763
512,298
Akebia Therapeutics, Inc. (a)
 
48,101
60,607
Akero Therapeutics, Inc. (a)
 
18,799
373,912
Aldeyra Therapeutics, Inc. (a)
 
12,349
48,655
Alector, Inc. (a)
 
19,912
101,153
Alkermes PLC (a)
 
46,971
1,152,668
Allakos, Inc. (a)
 
17,669
18,552
Allogene Therapeutics, Inc. (a)(b)
 
31,525
87,009
Alpine Immune Sciences, Inc. (a)
 
12,541
810,023
Altimmune, Inc. (a)(b)
 
14,578
95,486
ALX Oncology Holdings, Inc. (a)
 
7,402
125,982
Amicus Therapeutics, Inc. (a)
 
73,470
733,965
AnaptysBio, Inc. (a)
 
5,222
127,103
Anavex Life Sciences Corp. (a)(b)
 
22,641
82,640
Anika Therapeutics, Inc. (a)
 
4,266
110,447
Annexon, Inc. (a)
 
17,268
78,569
Apellis Pharmaceuticals, Inc. (a)
 
28,665
1,266,706
Apogee Therapeutics, Inc.
 
7,307
367,542
Arbutus Biopharma Corp. (a)
 
35,188
96,063
Arcellx, Inc. (a)
 
9,652
482,793
Arcturus Therapeutics Holdings, Inc. (a)
 
6,956
177,865
Arcus Biosciences, Inc. (a)
 
15,456
235,395
Arcutis Biotherapeutics, Inc. (a)(b)
 
28,226
234,840
Ardelyx, Inc. (a)
 
65,406
418,598
Arrowhead Pharmaceuticals, Inc. (a)
 
34,878
788,940
Ars Pharmaceuticals, Inc. (a)(b)
 
14,067
122,383
Astria Therapeutics, Inc. (a)
 
11,738
107,755
Atara Biotherapeutics, Inc. (a)
 
26,508
18,291
Aura Biosciences, Inc. (a)
 
10,279
76,065
Avid Bioservices, Inc. (a)(b)
 
17,217
131,366
Avidity Biosciences, Inc. (a)
 
18,779
453,137
Avita Medical, Inc. (a)
 
7,239
60,808
Beam Therapeutics, Inc. (a)
 
19,192
407,254
BioCryst Pharmaceuticals, Inc. (a)(b)
 
57,747
238,495
Biohaven Ltd. (a)
 
18,750
727,500
Biomea Fusion, Inc. (a)(b)
 
6,657
71,496
bluebird bio, Inc. (a)(b)
 
54,653
48,483
Blueprint Medicines Corp. (a)
 
17,100
1,561,914
BridgeBio Pharma, Inc. (a)
 
36,210
927,700
C4 Therapeutics, Inc. (a)(b)
 
12,427
78,290
Cabaletta Bio, Inc. (a)
 
10,639
113,252
CareDx, Inc. (a)(b)
 
14,874
115,422
Cargo Therapeutics, Inc. (b)
 
5,591
106,788
Caribou Biosciences, Inc. (a)
 
22,511
81,715
Carisma Therapeutics, Inc. rights (a)(c)
 
47,241
0
Cartesian Therapeutics, Inc. rights (a)(c)
 
31,759
4,129
Catalyst Pharmaceutical Partners, Inc. (a)
 
31,482
473,804
Cel-Sci Corp. (a)
 
15,377
22,450
Celcuity, Inc. (a)
 
3,992
62,954
Celldex Therapeutics, Inc. (a)
 
17,791
665,739
Cerevel Therapeutics Holdings (a)
 
24,888
1,062,966
Cogent Biosciences, Inc. (a)
 
20,390
132,535
Coherus BioSciences, Inc. (a)(b)
 
26,024
51,007
Crinetics Pharmaceuticals, Inc. (a)
 
16,367
717,202
CRISPR Therapeutics AG (a)(b)
 
22,347
1,184,168
Cullinan Oncology, Inc. (a)
 
9,327
251,922
Cytokinetics, Inc. (a)(b)
 
27,576
1,690,960
Day One Biopharmaceuticals, Inc. (a)
 
15,465
264,452
Deciphera Pharmaceuticals, Inc. (a)
 
16,290
411,648
Denali Therapeutics, Inc. (a)
 
35,035
540,940
Disc Medicine, Inc. (a)
 
3,565
99,250
Dynavax Technologies Corp. (a)(b)
 
36,532
415,369
Dyne Therapeutics, Inc. (a)
 
16,215
410,402
Editas Medicine, Inc. (a)
 
22,687
118,199
Emergent BioSolutions, Inc. (a)(b)
 
15,020
28,238
Enanta Pharmaceuticals, Inc. (a)
 
5,299
72,808
Erasca, Inc. (a)
 
22,616
45,458
Exelixis, Inc. (a)
 
85,282
2,000,716
Fate Therapeutics, Inc. (a)
 
22,975
90,751
FibroGen, Inc. (a)
 
25,243
28,272
G1 Therapeutics, Inc. (a)(b)
 
11,916
44,923
Genelux Corp. (a)(b)
 
5,630
17,509
Geron Corp. (a)(b)
 
134,541
528,746
Gossamer Bio, Inc. (a)
 
53,796
38,195
Gritstone Bio, Inc. (a)(b)
 
25,063
20,050
Halozyme Therapeutics, Inc. (a)
 
37,152
1,415,491
Heron Therapeutics, Inc. (a)(b)
 
42,281
98,092
HilleVax, Inc. (a)
 
7,211
95,185
Humacyte, Inc. Class A (a)(b)
 
17,633
69,121
Ideaya Biosciences, Inc. (a)
 
20,769
844,260
IGM Biosciences, Inc. (a)(b)
 
4,160
40,061
ImmunityBio, Inc. (a)(b)
 
43,102
344,385
Immunovant, Inc. (a)
 
15,879
435,720
Incyte Corp. (a)
 
52,319
2,723,204
Inhibrx, Inc. (a)
 
7,472
254,347
Inovio Pharmaceuticals, Inc. (a)(b)
 
6,352
72,730
Inozyme Pharma, Inc. (a)
 
12,684
55,936
Insmed, Inc. (a)
 
40,236
994,634
Intellia Therapeutics, Inc. (a)
 
25,229
539,901
Invivyd, Inc. (a)
 
15,687
34,825
Ionis Pharmaceuticals, Inc. (a)
 
40,328
1,663,933
Iovance Biotherapeutics, Inc. (a)
 
68,297
804,539
Ironwood Pharmaceuticals, Inc. Class A (a)
 
38,991
302,180
iTeos Therapeutics, Inc. (a)
 
7,424
79,734
Janux Therapeutics, Inc. (a)
 
6,552
373,464
Kalvista Pharmaceuticals, Inc. (a)(b)
 
6,860
77,861
Karyopharm Therapeutics, Inc. (a)
 
31,169
32,104
Keros Therapeutics, Inc. (a)
 
7,371
415,651
Kiniksa Pharmaceuticals Ltd. (a)
 
8,684
162,564
Kodiak Sciences, Inc. (a)
 
8,712
27,966
Krystal Biotech, Inc. (a)
 
6,906
1,057,447
Kura Oncology, Inc. (a)
 
21,474
421,320
Kymera Therapeutics, Inc. (a)
 
11,925
400,919
Larimar Therapeutics, Inc. (a)
 
15,675
108,001
Lexeo Therapeutics, Inc.
 
2,798
34,835
Lexicon Pharmaceuticals, Inc. (a)
 
34,488
53,112
Lyell Immunopharma, Inc. (a)(b)
 
44,418
96,387
Macrogenics, Inc. (a)
 
17,157
253,580
Madrigal Pharmaceuticals, Inc. (a)(b)
 
4,389
895,444
MannKind Corp. (a)(b)
 
75,591
310,679
Mersana Therapeutics, Inc. (a)
 
27,478
87,105
MiMedx Group, Inc. (a)
 
33,248
204,808
Mineralys Therapeutics, Inc. (a)
 
3,968
48,608
Mirum Pharmaceuticals, Inc. (a)(b)
 
10,573
265,488
Morphic Holding, Inc. (a)
 
11,516
314,041
Mural Oncology PLC
 
4,469
16,535
Myriad Genetics, Inc. (a)
 
24,946
488,193
Natera, Inc. (a)
 
31,771
2,950,890
Neurocrine Biosciences, Inc. (a)
 
27,993
3,850,157
Novavax, Inc. (a)(b)
 
32,432
140,431
Nurix Therapeutics, Inc. (a)
 
12,795
153,796
Nuvalent, Inc. Class A (a)
 
9,027
621,780
Ocugen, Inc. (a)(b)
 
72,144
95,230
Olema Pharmaceuticals, Inc. (a)(b)
 
14,409
146,540
Omniab, Inc. (a)(c)
 
1,470
6,130
Omniab, Inc. (a)(c)
 
1,470
5,733
Organogenesis Holdings, Inc. Class A (a)
 
19,329
45,423
ORIC Pharmaceuticals, Inc. (a)(b)
 
12,006
106,013
PDL BioPharma, Inc. (a)(c)
 
15,583
2,533
PDS Biotechnology Corp. (a)(b)
 
8,470
28,375
Poseida Therapeutics, Inc. (a)
 
18,427
44,593
Praxis Precision Medicines, Inc. (a)
 
4,484
246,037
Precigen, Inc. (a)
 
35,465
46,814
Prime Medicine, Inc. (a)
 
10,502
51,670
Protagonist Therapeutics, Inc. (a)
 
16,172
406,079
Prothena Corp. PLC (a)
 
11,166
227,116
PTC Therapeutics, Inc. (a)
 
21,272
683,895
Puma Biotechnology, Inc. (a)
 
11,035
55,947
RAPT Therapeutics, Inc. (a)
 
7,874
60,630
Recursion Pharmaceuticals, Inc. (a)(b)
 
44,791
350,266
REGENXBIO, Inc. (a)
 
11,581
177,768
Relay Therapeutics, Inc. (a)
 
26,622
173,575
Repligen Corp. (a)
 
14,615
2,399,783
Replimune Group, Inc. (a)
 
15,310
97,219
Revolution Medicines, Inc. (a)
 
36,398
1,356,917
Rhythm Pharmaceuticals, Inc. (a)
 
14,157
562,882
Rigel Pharmaceuticals, Inc. (a)
 
48,386
50,805
Rocket Pharmaceuticals, Inc. (a)
 
19,324
415,852
Roivant Sciences Ltd. (a)
 
94,950
1,034,955
Sage Therapeutics, Inc. (a)
 
14,399
200,722
Sana Biotechnology, Inc. (a)(b)
 
29,592
266,328
Sangamo Therapeutics, Inc. (a)
 
41,538
21,388
Sarepta Therapeutics, Inc. (a)
 
26,310
3,332,425
Savara, Inc. (a)
 
27,320
125,126
Scholar Rock Holding Corp. (a)
 
13,356
195,933
SpringWorks Therapeutics, Inc. (a)
 
17,990
839,953
Stoke Therapeutics, Inc. (a)
 
7,638
84,247
Summit Therapeutics, Inc. (a)
 
35,530
139,633
Sutro Biopharma, Inc. (a)
 
15,112
51,305
Syndax Pharmaceuticals, Inc. (a)
 
22,722
480,116
Tango Therapeutics, Inc. (a)
 
13,688
105,398
Tenaya Therapeutics, Inc. (a)
 
13,722
62,298
TG Therapeutics, Inc. (a)(b)
 
37,403
510,925
Travere Therapeutics, Inc. (a)
 
18,714
103,488
Twist Bioscience Corp. (a)(b)
 
16,313
509,455
Tyra Biosciences, Inc. (a)
 
5,910
101,061
Ultragenyx Pharmaceutical, Inc. (a)
 
23,107
982,972
uniQure B.V. (a)(b)
 
12,450
54,905
United Therapeutics Corp. (a)
 
13,219
3,097,608
Vanda Pharmaceuticals, Inc. (a)
 
16,054
76,417
Vaxcyte, Inc. (a)
 
27,446
1,661,855
Vera Therapeutics, Inc. (a)
 
12,264
484,551
Veracyte, Inc. (a)(b)
 
21,378
418,367
Vericel Corp. (a)
 
13,440
616,493
Verve Therapeutics, Inc. (a)(b)
 
16,610
99,826
Viking Therapeutics, Inc. (a)
 
30,088
2,394,403
Vir Biotechnology, Inc. (a)
 
23,879
202,016
Viridian Therapeutics, Inc. (a)
 
15,671
207,797
Voyager Therapeutics, Inc. (a)(b)
 
13,799
107,908
X4 Pharmaceuticals, Inc. (a)(b)
 
38,106
42,679
Xencor, Inc. (a)
 
16,983
355,624
Y-mAbs Therapeutics, Inc. (a)
 
8,071
122,760
Zentalis Pharmaceuticals, Inc. (a)
 
15,871
175,533
 
 
 
79,234,096
Health Care Equipment & Supplies - 2.6%
 
 
 
Alphatec Holdings, Inc. (a)(b)
 
27,353
345,195
Angiodynamics, Inc. (a)
 
10,768
62,347
Artivion, Inc. (a)
 
11,103
217,841
Atricure, Inc. (a)
 
13,388
322,919
Atrion Corp. (b)
 
372
157,464
Avanos Medical, Inc. (a)
 
13,009
235,203
AxoGen, Inc. (a)
 
11,728
75,176
Axonics, Inc. (a)
 
14,286
951,019
Butterfly Network, Inc. Class A (a)(b)
 
42,779
33,201
Cerus Corp. (a)
 
49,954
83,423
CONMED Corp.
 
8,657
588,503
CVRx, Inc. (a)
 
3,055
47,383
Dentsply Sirona, Inc.
 
59,575
1,787,846
Embecta Corp.
 
15,778
159,831
Enovis Corp. (a)
 
13,961
771,066
Envista Holdings Corp. (a)
 
48,240
949,363
Glaukos Corp. (a)
 
13,729
1,317,984
Globus Medical, Inc. (a)
 
32,456
1,615,984
Haemonetics Corp. (a)
 
14,282
1,313,230
ICU Medical, Inc. (a)(b)
 
5,709
559,025
Inari Medical, Inc. (a)
 
14,431
538,854
Inogen, Inc. (a)
 
6,294
42,799
Inspire Medical Systems, Inc. (a)
 
8,324
2,011,578
Integer Holdings Corp. (a)
 
9,376
1,046,643
Integra LifeSciences Holdings Corp. (a)
 
19,144
558,430
IRadimed Corp.
 
2,136
86,743
iRhythm Technologies, Inc. (a)
 
8,625
945,128
Lantheus Holdings, Inc. (a)
 
19,272
1,282,359
LeMaitre Vascular, Inc.
 
5,593
362,426
LivaNova PLC (a)
 
15,157
845,003
Masimo Corp. (a)
 
12,484
1,677,974
Merit Medical Systems, Inc. (a)
 
16,238
1,203,236
Neogen Corp. (a)
 
55,498
684,290
Nevro Corp. (a)
 
10,514
111,238
Novocure Ltd. (a)
 
27,248
333,516
Omnicell, Inc. (a)
 
12,805
343,302
OraSure Technologies, Inc. (a)
 
20,346
107,630
Orthofix International NV (a)
 
10,225
132,925
OrthoPediatrics Corp. (a)
 
4,331
128,328
Outset Medical, Inc. (a)
 
13,088
33,113
Paragon 28, Inc. (a)(b)
 
10,240
94,413
Penumbra, Inc. (a)
 
10,860
2,133,664
PROCEPT BioRobotics Corp. (a)
 
12,372
655,469
Pulmonx Corp. (a)
 
10,563
80,384
QuidelOrtho Corp. (a)
 
13,923
564,578
RxSight, Inc. (a)
 
6,404
333,841
Semler Scientific, Inc. (a)
 
1,432
36,559
Senseonics Holdings, Inc. (a)(b)
 
146,460
71,326
Shockwave Medical, Inc. (a)
 
10,366
3,422,750
SI-BONE, Inc. (a)
 
10,145
144,668
Sight Sciences, Inc. (a)
 
8,470
47,009
Silk Road Medical, Inc. (a)
 
10,922
212,324
Solventum Corp.
 
38,888
2,528,109
Staar Surgical Co. (a)
 
13,739
631,444
SurModics, Inc. (a)
 
4,170
107,127
Tactile Systems Technology, Inc. (a)
 
6,416
88,348
Tandem Diabetes Care, Inc. (a)
 
18,353
673,372
Teleflex, Inc.
 
13,216
2,758,840
TransMedics Group, Inc. (a)
 
9,188
864,866
Treace Medical Concepts, Inc. (a)
 
11,868
123,071
UFP Technologies, Inc. (a)
 
1,981
407,967
Utah Medical Products, Inc.
 
1,000
66,200
Varex Imaging Corp. (a)
 
11,173
181,561
Zimvie, Inc. (a)
 
7,231
109,911
Zynex, Inc. (a)(b)
 
5,350
58,690
 
 
 
40,466,009
Health Care Providers & Services - 2.4%
 
 
 
23andMe Holding Co. Class A (a)(b)
 
81,068
40,712
Acadia Healthcare Co., Inc. (a)
 
25,929
1,917,190
Accolade, Inc. (a)
 
20,080
153,210
AdaptHealth Corp. (a)
 
22,976
226,314
Addus HomeCare Corp. (a)
 
4,461
428,925
Agiliti, Inc. (a)(b)
 
9,611
97,552
agilon health, Inc. (a)(b)
 
84,587
465,229
Alignment Healthcare, Inc. (a)
 
27,056
139,338
Amedisys, Inc. (a)
 
9,104
838,023
AMN Healthcare Services, Inc. (a)
 
10,640
638,187
Astrana Health, Inc. (a)
 
11,883
441,453
Brookdale Senior Living, Inc. (a)
 
53,161
360,963
Castle Biosciences, Inc. (a)
 
7,573
159,715
Chemed Corp.
 
4,235
2,405,480
Clover Health Investments Corp. (a)(b)
 
91,113
57,401
Community Health Systems, Inc. (a)
 
34,524
113,929
Corvel Corp. (a)
 
2,554
610,023
Cross Country Healthcare, Inc. (a)
 
9,060
159,456
DaVita, Inc. (a)
 
15,150
2,106,002
DocGo, Inc. Class A (a)(b)
 
23,772
80,349
Encompass Health Corp.
 
28,161
2,348,064
Enhabit Home Health & Hospice (a)
 
14,071
141,976
Fulgent Genetics, Inc. (a)
 
5,456
111,030
Guardant Health, Inc. (a)
 
34,131
614,358
HealthEquity, Inc. (a)
 
24,128
1,903,940
Henry Schein, Inc. (a)
 
36,533
2,531,006
Hims & Hers Health, Inc. (a)
 
41,305
517,552
LifeStance Health Group, Inc. (a)(b)
 
24,982
154,389
Modivcare, Inc. (a)
 
3,314
77,780
National Healthcare Corp.
 
3,825
347,578
National Research Corp. Class A
 
4,185
143,336
NeoGenomics, Inc. (a)
 
35,885
499,519
Opko Health, Inc. (a)(b)
 
122,662
149,648
Option Care Health, Inc. (a)
 
49,852
1,490,076
Owens & Minor, Inc. (a)
 
21,538
532,850
Patterson Companies, Inc.
 
23,168
590,089
Pediatrix Medical Group, Inc. (a)
 
23,256
206,281
Pennant Group, Inc. (a)
 
8,286
173,260
PetIQ, Inc. Class A (a)
 
7,156
116,786
Premier, Inc.
 
33,761
704,930
Privia Health Group, Inc. (a)
 
28,961
532,882
Progyny, Inc. (a)
 
23,507
753,634
R1 RCM, Inc. (a)
 
55,441
681,370
RadNet, Inc. (a)
 
18,346
889,781
Select Medical Holdings Corp.
 
29,562
838,674
Surgery Partners, Inc. (a)
 
20,499
511,450
Talkspace, Inc. Class A (a)
 
38,424
117,577
Tenet Healthcare Corp. (a)
 
28,566
3,207,676
The Ensign Group, Inc.
 
15,799
1,869,970
U.S. Physical Therapy, Inc.
 
4,246
431,011
Universal Health Services, Inc. Class B
 
17,152
2,923,215
 
 
 
37,551,139
Health Care Technology - 0.3%
 
 
 
American Well Corp. (a)
 
69,049
35,250
Augmedix, Inc. (a)(b)
 
11,797
31,970
Certara, Inc. (a)
 
30,225
517,150
Definitive Healthcare Corp. (a)(b)
 
13,299
92,295
Doximity, Inc. (a)
 
34,453
836,863
Evolent Health, Inc. Class A (a)
 
32,397
898,693
GoodRx Holdings, Inc. (a)(b)
 
21,468
152,423
Health Catalyst, Inc. (a)
 
15,800
98,276
HealthStream, Inc.
 
6,582
169,618
MultiPlan Corp. Class A (a)
 
73,212
47,573
OptimizeRx Corp. (a)
 
4,917
50,153
Phreesia, Inc. (a)
 
14,921
309,462
Schrodinger, Inc. (a)(b)
 
15,441
376,452
Simulations Plus, Inc.
 
4,498
203,984
Teladoc Health, Inc. (a)
 
46,705
595,489
TruBridge, Inc. (a)
 
3,798
30,004
 
 
 
4,445,655
Life Sciences Tools & Services - 0.7%
 
 
 
10X Genomics, Inc. (a)
 
29,352
859,427
Adaptive Biotechnologies Corp. (a)
 
30,461
79,808
Azenta, Inc. (a)
 
15,735
825,458
Bio-Rad Laboratories, Inc. Class A (a)
 
5,891
1,589,097
BioLife Solutions, Inc. (a)
 
10,211
179,101
Bruker Corp.
 
26,103
2,036,295
Codexis, Inc. (a)
 
19,322
56,227
CryoPort, Inc. (a)(b)
 
13,517
218,840
Cytek Biosciences, Inc. (a)
 
27,796
167,054
Fortrea Holdings, Inc.
 
24,998
914,677
Inotiv, Inc. (a)(b)
 
5,755
22,099
Lifecore Biomedical (a)(b)
 
6,797
43,637
Maravai LifeSciences Holdings, Inc. (a)
 
30,287
248,353
MaxCyte, Inc. (a)
 
28,535
103,582
Medpace Holdings, Inc. (a)
 
6,562
2,548,353
Mesa Laboratories, Inc.
 
1,437
152,437
OmniAb, Inc. (a)
 
26,363
117,052
Pacific Biosciences of California, Inc. (a)(b)
 
67,436
111,269
Quanterix Corp. (a)
 
9,416
151,786
Sotera Health Co. (a)
 
35,042
392,470
Standard BioTools, Inc. (a)(b)
 
71,904
178,322
 
 
 
10,995,344
Pharmaceuticals - 1.3%
 
 
 
Amneal Intermediate, Inc. (a)
 
32,107
194,247
Amphastar Pharmaceuticals, Inc. (a)
 
10,529
434,321
Amylyx Pharmaceuticals, Inc. (a)
 
10,933
19,789
ANI Pharmaceuticals, Inc. (a)
 
4,239
279,774
Arvinas Holding Co. LLC (a)
 
19,148
608,332
Assertio Holdings, Inc. (a)
 
24,977
22,107
Atea Pharmaceuticals, Inc. (a)
 
20,337
75,247
Axsome Therapeutics, Inc. (a)(b)
 
10,928
806,049
Cassava Sciences, Inc. (a)(b)
 
11,232
248,789
Catalent, Inc. (a)
 
50,780
2,836,063
Collegium Pharmaceutical, Inc. (a)
 
9,257
341,861
Corcept Therapeutics, Inc. (a)(b)
 
25,560
596,059
CorMedix, Inc. (a)(b)
 
15,466
81,274
Edgewise Therapeutics, Inc. (a)
 
18,017
323,225
Elanco Animal Health, Inc. (a)
 
138,645
1,824,568
Enliven Therapeutics, Inc. (a)
 
5,355
93,123
Esperion Therapeutics, Inc. (a)
 
43,790
86,266
Evolus, Inc. (a)
 
12,239
144,053
Eyepoint Pharmaceuticals, Inc. (a)(b)
 
10,463
184,149
Fulcrum Therapeutics, Inc. (a)
 
13,646
97,296
Harmony Biosciences Holdings, Inc. (a)
 
9,287
287,061
Harrow, Inc. (a)(b)
 
8,780
89,468
Innoviva, Inc. (a)(b)
 
15,770
238,285
Intra-Cellular Therapies, Inc. (a)
 
25,188
1,808,750
Jazz Pharmaceuticals PLC (a)
 
17,709
1,961,272
Ligand Pharmaceuticals, Inc. Class B (a)
 
4,631
323,661
Liquidia Corp. (a)
 
14,351
184,410
Longboard Pharmaceuticals, Inc. (a)
 
7,435
158,366
Marinus Pharmaceuticals, Inc. (a)
 
14,850
20,939
Mind Medicine (MindMed), Inc. (a)
 
9,165
87,251
Nuvation Bio, Inc. (a)
 
39,167
117,109
Ocular Therapeutix, Inc. (a)(b)
 
31,048
147,168
Omeros Corp. (a)(b)
 
17,278
54,426
Organon & Co.
 
71,888
1,337,836
Pacira Biosciences, Inc. (a)
 
13,168
345,660
Perrigo Co. PLC
 
38,119
1,244,967
Phathom Pharmaceuticals, Inc. (a)(b)
 
9,337
84,313
Phibro Animal Health Corp. Class A
 
5,513
92,067
Pliant Therapeutics, Inc. (a)
 
14,430
170,563
Prestige Brands Holdings, Inc. (a)
 
13,970
1,002,487
Revance Therapeutics, Inc. (a)(b)
 
23,654
85,391
Scilex Holding Co. (a)(b)
 
25,075
21,394
Scilex Holding Co. (a)(h)
 
12,947
9,942
scPharmaceuticals, Inc. (a)(b)
 
6,562
29,332
SIGA Technologies, Inc.
 
10,982
96,422
Supernus Pharmaceuticals, Inc. (a)
 
15,419
464,112
Tarsus Pharmaceuticals, Inc. (a)(b)
 
7,351
231,042
Terns Pharmaceuticals, Inc. (a)
 
10,002
50,510
Theravance Biopharma, Inc. (a)(b)
 
9,332
78,762
Ventyx Biosciences, Inc. (a)
 
12,655
47,330
Verrica Pharmaceuticals, Inc. (a)(b)
 
5,733
39,930
WAVE Life Sciences (a)
 
23,928
117,965
Xeris Biopharma Holdings, Inc. (a)(b)
 
38,276
66,983
Xeris Biopharma Holdings, Inc. rights (a)(c)
 
12,393
0
Zevra Therapeutics, Inc. (a)(b)
 
10,729
49,139
 
 
 
20,440,905
TOTAL HEALTH CARE
 
 
193,133,148
INDUSTRIALS - 20.4%
 
 
 
Aerospace & Defense - 1.3%
 
 
 
AAR Corp. (a)
 
9,363
647,358
AeroVironment, Inc. (a)
 
7,876
1,258,506
AerSale Corp. (a)(b)
 
7,635
54,438
Archer Aviation, Inc. Class A (a)(b)
 
51,060
198,113
Astronics Corp. (a)
 
7,694
129,028
BWX Technologies, Inc.
 
25,746
2,465,694
Cadre Holdings, Inc.
 
5,082
169,485
Curtiss-Wright Corp.
 
10,726
2,718,183
Ducommun, Inc. (a)
 
3,798
205,434
Hexcel Corp.
 
23,754
1,525,244
Huntington Ingalls Industries, Inc.
 
11,107
3,075,862
Kratos Defense & Security Solutions, Inc. (a)
 
40,989
730,424
Leonardo DRS, Inc. (a)
 
20,004
430,486
Mercury Systems, Inc. (a)
 
14,709
414,794
Moog, Inc. Class A
 
8,100
1,288,467
National Presto Industries, Inc.
 
1,447
118,640
Rocket Lab U.S.A., Inc. Class A (a)(b)
 
74,186
278,939
Spirit AeroSystems Holdings, Inc. Class A (a)
 
32,664
1,045,248
Terran Orbital Corp. Class A (a)(b)
 
39,877
52,638
Triumph Group, Inc. (a)
 
21,843
291,822
V2X, Inc. (a)
 
3,147
152,881
Virgin Galactic Holdings, Inc. (a)(b)
 
96,735
84,169
Woodward, Inc.
 
16,970
2,755,249
 
 
 
20,091,102
Air Freight & Logistics - 0.3%
 
 
 
Air Transport Services Group, Inc. (a)
 
14,180
181,788
C.H. Robinson Worldwide, Inc.
 
32,800
2,328,800
Forward Air Corp.
 
8,689
191,332
GXO Logistics, Inc. (a)
 
33,459
1,661,574
Hub Group, Inc. Class A
 
17,567
706,545
 
 
 
5,070,039
Building Products - 2.7%
 
 
 
A.O. Smith Corp.
 
34,529
2,860,382
AAON, Inc.
 
18,984
1,786,205
Advanced Drain Systems, Inc.
 
19,190
3,012,830
Allegion PLC
 
24,621
2,992,929
American Woodmark Corp. (a)
 
4,505
414,820
Apogee Enterprises, Inc.
 
6,228
384,766
Armstrong World Industries, Inc.
 
12,433
1,428,303
AZZ, Inc.
 
7,073
506,639
CSW Industrials, Inc.
 
4,374
1,039,350
Fortune Brands Innovations, Inc.
 
35,443
2,590,883
Gibraltar Industries, Inc. (a)
 
8,579
613,055
Griffon Corp.
 
10,749
704,274
Hayward Holdings, Inc. (a)
 
35,519
482,348
Insteel Industries, Inc.
 
5,436
174,496
Janus International Group, Inc. (a)
 
25,751
371,072
Jeld-Wen Holding, Inc. (a)
 
24,008
492,164
Lennox International, Inc.
 
8,988
4,165,219
Masonite International Corp. (a)
 
6,144
814,387
MasterBrand, Inc. (a)
 
35,758
596,086
Owens Corning
 
24,962
4,198,858
Quanex Building Products Corp.
 
9,406
312,467
Resideo Technologies, Inc. (a)
 
41,111
802,898
Simpson Manufacturing Co. Ltd.
 
12,015
2,089,288
Tecnoglass, Inc.
 
5,769
320,468
The AZEK Co., Inc. (a)
 
40,959
1,869,369
Trex Co., Inc. (a)
 
30,568
2,706,796
UFP Industries, Inc.
 
17,404
1,961,431
Zurn Elkay Water Solutions Cor
 
39,631
1,239,658
 
 
 
40,931,441
Commercial Services & Supplies - 1.6%
 
 
 
ABM Industries, Inc.
 
17,670
772,179
ACCO Brands Corp.
 
25,923
124,949
ACV Auctions, Inc. Class A (a)
 
38,340
669,033
Aris Water Solution, Inc. Class A
 
6,920
97,088
Brady Corp. Class A
 
12,599
743,341
BrightView Holdings, Inc. (a)
 
10,863
122,209
Casella Waste Systems, Inc. Class A (a)
 
16,011
1,447,394
CECO Environmental Corp. (a)
 
8,226
177,846
Cimpress PLC (a)
 
5,021
428,141
Clean Harbors, Inc. (a)
 
14,120
2,675,034
CoreCivic, Inc. (a)
 
31,971
476,368
Deluxe Corp.
 
12,467
246,223
Driven Brands Holdings, Inc. (a)
 
16,690
239,168
Ennis, Inc.
 
7,147
142,225
Enviri Corp. (a)
 
22,411
174,358
Healthcare Services Group, Inc. (a)
 
20,757
220,439
HNI Corp.
 
13,143
551,349
Interface, Inc.
 
16,337
249,793
Liquidity Services, Inc. (a)
 
6,195
106,926
Matthews International Corp. Class A
 
8,677
234,105
Millerknoll, Inc.
 
20,535
522,205
Montrose Environmental Group, Inc. (a)
 
7,690
333,900
MSA Safety, Inc.
 
10,383
1,873,093
OpenLane, Inc. (a)
 
30,506
524,093
Pitney Bowes, Inc.
 
42,198
179,763
Rollins, Inc.
 
78,799
3,511,283
SP Plus Corp. (a)
 
5,520
281,851
Steelcase, Inc. Class A
 
26,561
319,529
Stericycle, Inc. (a)
 
26,025
1,164,098
Tetra Tech, Inc.
 
15,034
2,927,420
The Brink's Co.
 
12,669
1,108,031
The GEO Group, Inc. (a)
 
34,367
510,694
UniFirst Corp.
 
4,255
681,353
Vestis Corp.
 
36,976
681,098
Viad Corp. (a)
 
5,785
199,467
VSE Corp.
 
3,805
297,056
 
 
 
25,013,102
Construction & Engineering - 1.9%
 
 
 
AECOM
 
38,117
3,520,486
Ameresco, Inc. Class A (a)(b)
 
8,881
185,879
API Group Corp. (a)
 
59,565
2,297,422
Arcosa, Inc.
 
13,708
1,042,082
Argan, Inc.
 
3,522
212,236
Bowman Consulting Group Ltd. (a)
 
3,069
99,712
Comfort Systems U.S.A., Inc.
 
10,005
3,095,647
Construction Partners, Inc. Class A (a)
 
12,357
638,115
Dycom Industries, Inc. (a)
 
8,255
1,155,865
EMCOR Group, Inc.
 
13,214
4,719,615
Fluor Corp. (a)
 
47,934
1,933,178
Granite Construction, Inc. (b)
 
12,360
685,980
Great Lakes Dredge & Dock Corp. (a)
 
18,198
120,107
IES Holdings, Inc. (a)
 
2,343
316,586
Limbach Holdings, Inc. (a)
 
2,812
127,468
MasTec, Inc. (a)
 
17,002
1,507,907
Matrix Service Co. (a)
 
6,798
76,545
MDU Resources Group, Inc.
 
57,117
1,410,790
MYR Group, Inc. (a)
 
4,707
782,539
Primoris Services Corp.
 
15,025
700,165
Sterling Construction Co., Inc. (a)
 
8,683
882,193
Tutor Perini Corp. (a)
 
11,765
195,652
Valmont Industries, Inc.
 
5,872
1,202,586
Willscot Mobile Mini Holdings (a)
 
53,898
1,992,070
 
 
 
28,900,825
Electrical Equipment - 1.5%
 
 
 
Acuity Brands, Inc.
 
8,586
2,131,904
Allient, Inc.
 
3,944
115,914
American Superconductor Corp. (a)
 
10,237
126,427
Array Technologies, Inc. (a)
 
40,054
494,266
Atkore, Inc.
 
10,343
1,813,128
Blink Charging Co. (a)
 
15,082
38,157
Bloom Energy Corp. Class A (a)(b)
 
59,285
659,842
ChargePoint Holdings, Inc. Class A (a)(b)
 
99,194
131,928
Encore Wire Corp.
 
4,442
1,240,917
Energy Vault Holdings, Inc. Class A (a)(b)
 
21,226
26,957
EnerSys
 
11,371
1,028,507
Enovix Corp. (a)(b)
 
39,079
244,635
Eos Energy Enterprises, Inc. (a)(b)
 
51,196
39,585
Fluence Energy, Inc. (a)
 
16,496
294,289
FuelCell Energy, Inc. (a)(b)
 
123,058
114,173
Generac Holdings, Inc. (a)
 
17,285
2,350,069
GrafTech International Ltd.
 
52,422
90,166
LSI Industries, Inc.
 
7,487
109,310
Net Power, Inc. Class A (a)(b)
 
7,231
78,818
Nextracker, Inc. Class A (a)
 
34,583
1,479,807
NuScale Power Corp. (a)(b)
 
12,954
75,133
nVent Electric PLC
 
46,574
3,356,588
Plug Power, Inc. (a)(b)
 
153,404
354,363
Powell Industries, Inc.
 
2,601
371,943
Preformed Line Products Co.
 
822
99,487
Regal Rexnord Corp.
 
18,650
3,009,551
Sensata Technologies, Inc. PLC
 
42,575
1,631,048
Shoals Technologies Group, Inc. (a)
 
47,967
405,321
Stem, Inc. (a)(b)
 
39,692
73,033
SunPower Corp. (a)(b)
 
23,402
48,208
Sunrun, Inc. (a)(b)
 
61,307
630,849
Thermon Group Holdings, Inc. (a)
 
9,564
305,379
TPI Composites, Inc. (a)(b)
 
13,036
41,454
Vicor Corp. (a)
 
6,345
205,451
 
 
 
23,216,607
Ground Transportation - 1.2%
 
 
 
ArcBest Corp.
 
6,658
738,439
Avis Budget Group, Inc.
 
5,195
495,863
Covenant Transport Group, Inc. Class A
 
2,232
100,864
FTAI Infrastructure LLC
 
27,913
202,090
Heartland Express, Inc.
 
12,768
126,914
Hertz Global Holdings, Inc. (a)(b)
 
36,618
166,612
Knight-Swift Transportation Holdings, Inc. Class A
 
45,366
2,097,270
Landstar System, Inc.
 
10,100
1,761,541
Lyft, Inc. (a)
 
97,323
1,522,132
Marten Transport Ltd.
 
16,293
275,678
RXO, Inc. (a)
 
32,934
622,782
Ryder System, Inc.
 
12,456
1,517,764
Saia, Inc. (a)
 
7,457
2,959,161
Schneider National, Inc. Class B
 
10,339
213,811
U-Haul Holding Co. (a)(b)
 
2,814
177,929
U-Haul Holding Co. (non-vtg.)
 
27,662
1,696,234
Werner Enterprises, Inc.
 
17,816
609,307
XPO, Inc. (a)
 
32,617
3,505,023
 
 
 
18,789,414
Machinery - 4.8%
 
 
 
3D Systems Corp. (a)
 
36,628
122,704
AGCO Corp.
 
17,476
1,995,584
Alamo Group, Inc.
 
2,912
566,035
Albany International Corp. Class A
 
8,774
699,727
Allison Transmission Holdings, Inc.
 
25,161
1,850,592
Astec Industries, Inc.
 
6,389
267,060
Atmus Filtration Technologies, Inc.
 
23,442
710,058
Barnes Group, Inc.
 
14,254
494,899
Blue Bird Corp. (a)
 
4,797
158,085
Chart Industries, Inc. (a)
 
11,813
1,701,781
CNH Industrial NV
 
272,434
3,105,748
Columbus McKinnon Corp. (NY Shares)
 
8,104
334,452
Crane Co.
 
13,743
1,924,157
Desktop Metal, Inc. (a)(b)
 
68,203
53,362
Donaldson Co., Inc.
 
33,652
2,429,674
Douglas Dynamics, Inc.
 
6,281
142,202
Energy Recovery, Inc. (a)
 
16,134
240,397
Enerpac Tool Group Corp. Class A
 
15,214
542,075
EnPro Industries, Inc.
 
5,886
883,665
ESAB Corp.
 
15,931
1,686,774
ESCO Technologies, Inc.
 
7,265
737,034
Federal Signal Corp.
 
17,143
1,393,726
Flowserve Corp.
 
36,839
1,737,327
Franklin Electric Co., Inc.
 
11,145
1,072,929
Gates Industrial Corp. PLC (a)
 
46,812
824,827
Gorman-Rupp Co.
 
6,899
228,840
Graco, Inc.
 
47,312
3,794,422
Graham Corp. (a)
 
2,869
79,873
Helios Technologies, Inc.
 
9,302
419,520
Hillenbrand, Inc.
 
19,729
941,468
Hillman Solutions Corp. Class A (a)
 
55,003
525,829
Hyliion Holdings Corp. Class A (a)(b)
 
34,803
44,896
Hyster-Yale Materials Handling, Inc. Class A
 
3,142
184,027
ITT, Inc.
 
23,022
2,977,665
John Bean Technologies Corp.
 
8,963
798,514
Kadant, Inc.
 
3,298
902,959
Kennametal, Inc.
 
22,306
524,860
Lincoln Electric Holdings, Inc.
 
16,052
3,523,896
Lindsay Corp.
 
3,111
361,343
Luxfer Holdings PLC sponsored
 
7,406
71,320
Manitowoc Co., Inc. (a)
 
9,823
118,858
Microvast Holdings, Inc. (a)(b)
 
59,501
23,318
Middleby Corp. (a)
 
15,070
2,094,278
Miller Industries, Inc.
 
3,256
158,600
Mueller Industries, Inc.
 
31,951
1,783,505
Mueller Water Products, Inc. Class A
 
43,935
695,930
Nikola Corp. (a)(b)
 
296,834
184,215
Nordson Corp.
 
15,198
3,923,972
Oshkosh Corp.
 
18,400
2,065,768
Pentair PLC
 
46,342
3,665,189
Proto Labs, Inc. (a)
 
7,241
220,706
RBC Bearings, Inc. (a)
 
8,151
1,993,327
REV Group, Inc.
 
10,968
239,760
Shyft Group, Inc. (The)
 
8,844
96,223
Snap-On, Inc.
 
14,818
3,970,631
SPX Technologies, Inc. (a)
 
12,846
1,564,771
Standex International Corp.
 
3,344
578,111
Symbotic, Inc. (a)(b)
 
9,471
365,296
Tennant Co.
 
5,261
612,801
Terex Corp.
 
18,859
1,057,047
The Greenbrier Companies, Inc.
 
8,756
432,459
Timken Co.
 
18,242
1,627,551
Titan International, Inc. (a)
 
13,997
154,247
Toro Co.
 
29,354
2,571,117
Trinity Industries, Inc.
 
23,028
599,189
Wabash National Corp.
 
12,598
291,140
Watts Water Technologies, Inc. Class A
 
7,696
1,527,348
 
 
 
73,669,663
Marine Transportation - 0.2%
 
 
 
Genco Shipping & Trading Ltd.
 
12,126
258,769
Kirby Corp. (a)
 
16,601
1,811,667
Matson, Inc.
 
9,825
1,058,939
Pangaea Logistics Solutions Ltd.
 
9,740
70,128
 
 
 
3,199,503
Passenger Airlines - 0.5%
 
 
 
Alaska Air Group, Inc. (a)
 
35,387
1,522,349
Allegiant Travel Co.
 
3,979
217,094
American Airlines Group, Inc. (a)
 
183,982
2,485,597
Blade Air Mobility, Inc. (a)(b)
 
14,814
47,257
Frontier Group Holdings, Inc. (a)(b)
 
10,943
66,096
Hawaiian Holdings, Inc. (a)
 
14,517
184,366
JetBlue Airways Corp. (a)(b)
 
93,774
532,636
Joby Aviation, Inc. (a)(b)
 
103,837
524,377
SkyWest, Inc. (a)
 
11,514
840,867
Spirit Airlines, Inc. (b)
 
30,706
108,392
Sun Country Airlines Holdings, Inc. (a)
 
10,654
141,805
 
 
 
6,670,836
Professional Services - 2.6%
 
 
 
Alight, Inc. Class A (a)
 
102,832
927,545
ASGN, Inc. (a)
 
13,278
1,280,663
Asure Software, Inc. (a)
 
6,580
48,626
Barrett Business Services, Inc.
 
1,847
224,411
CACI International, Inc. Class A (a)
 
6,240
2,509,915
CBIZ, Inc. (a)
 
13,963
993,886
Clarivate PLC (a)(b)
 
121,385
820,563
Concentrix Corp.
 
13,237
723,667
Conduent, Inc. (a)
 
46,858
147,603
CRA International, Inc.
 
1,967
285,392
CSG Systems International, Inc.
 
8,011
378,440
Dayforce, Inc. (a)
 
43,924
2,695,616
Dun & Bradstreet Holdings, Inc.
 
65,444
595,540
ExlService Holdings, Inc. (a)
 
46,422
1,346,238
Exponent, Inc.
 
14,245
1,309,258
First Advantage Corp. (b)
 
14,156
230,743
FiscalNote Holdings, Inc. Class A (a)(b)
 
19,975
27,166
Forrester Research, Inc. (a)
 
3,305
60,118
Franklin Covey Co. (a)
 
3,327
129,553
FTI Consulting, Inc. (a)
 
9,783
2,091,899
Genpact Ltd.
 
46,426
1,427,135
Heidrick & Struggles International, Inc.
 
5,579
164,469
HireRight Holdings Corp. (a)
 
3,210
45,903
Huron Consulting Group, Inc. (a)
 
5,272
491,561
ICF International, Inc.
 
4,862
701,538
Innodata, Inc. (a)(b)
 
7,056
41,207
Insperity, Inc.
 
9,967
1,025,903
KBR, Inc.
 
37,938
2,463,694
Kelly Services, Inc. Class A (non-vtg.)
 
9,179
210,566
Kforce, Inc.
 
5,010
309,418
Korn Ferry
 
14,797
898,474
LegalZoom.com, Inc. (a)
 
33,392
399,034
ManpowerGroup, Inc.
 
13,728
1,035,778
Maximus, Inc.
 
17,146
1,376,481
NV5 Global, Inc. (a)
 
3,588
334,545
Parsons Corp. (a)
 
11,504
903,179
Paycom Software, Inc.
 
13,518
2,541,114
Paycor HCM, Inc. (a)(b)
 
18,053
313,581
Paylocity Holding Corp. (a)
 
12,200
1,892,952
Planet Labs PBC Class A (a)(b)
 
55,140
93,187
RCM Technologies, Inc. (a)
 
1,566
29,676
Resources Connection, Inc.
 
8,960
99,008
Robert Half, Inc.
 
29,302
2,025,940
Science Applications International Corp.
 
14,637
1,883,782
Spire Global, Inc. (a)(b)
 
5,125
53,505
Sterling Check Corp. (a)
 
8,045
121,721
TaskUs, Inc. (a)
 
5,288
60,600
TriNet Group, Inc.
 
8,806
883,858
TrueBlue, Inc. (a)
 
8,624
89,862
Ttec Holdings, Inc.
 
5,182
37,725
Upwork, Inc. (a)
 
35,286
412,846
Verra Mobility Corp. (a)(b)
 
46,782
1,103,120
 
 
 
40,298,204
Trading Companies & Distributors - 1.8%
 
 
 
Air Lease Corp. Class A
 
29,014
1,457,663
Alta Equipment Group, Inc.
 
6,250
69,438
Applied Industrial Technologies, Inc.
 
10,874
1,992,661
Beacon Roofing Supply, Inc. (a)
 
17,824
1,756,199
BlueLinx Corp. (a)
 
2,504
274,614
Boise Cascade Co.
 
11,147
1,474,414
Core & Main, Inc. (a)
 
47,873
2,703,388
Custom Truck One Source, Inc. Class A (a)
 
16,222
80,948
Distribution Solutions Group I (a)
 
3,043
100,328
DNOW, Inc. (a)
 
29,952
422,623
DXP Enterprises, Inc. (a)
 
3,664
178,657
FTAI Aviation Ltd.
 
28,196
1,979,641
GATX Corp.
 
9,959
1,218,583
Global Industrial Co.
 
3,531
135,979
GMS, Inc. (a)
 
11,186
1,034,929
H&E Equipment Services, Inc.
 
8,970
433,161
Herc Holdings, Inc.
 
7,956
1,137,947
Hudson Technologies, Inc. (a)
 
10,649
105,638
Karat Packaging, Inc.
 
1,632
44,227
McGrath RentCorp.
 
6,883
734,141
MRC Global, Inc. (a)
 
23,693
266,072
MSC Industrial Direct Co., Inc. Class A
 
12,764
1,164,587
Rush Enterprises, Inc. Class A
 
17,326
760,958
SiteOne Landscape Supply, Inc. (a)
 
12,699
1,992,346
Titan Machinery, Inc. (a)
 
5,562
123,810
Transcat, Inc. (a)
 
2,520
270,572
Watsco, Inc.
 
8,788
3,934,563
WESCO International, Inc.
 
12,359
1,887,837
Xometry, Inc. (a)(b)
 
11,475
205,058
 
 
 
27,940,982
TOTAL INDUSTRIALS
 
 
313,791,718
INFORMATION TECHNOLOGY - 11.2%
 
 
 
Communications Equipment - 0.6%
 
 
 
ADTRAN Holdings, Inc.
 
19,441
85,152
Applied Optoelectronics, Inc. (a)
 
9,542
93,989
Aviat Networks, Inc. (a)
 
3,556
118,948
Calix, Inc. (a)
 
16,522
458,155
Ciena Corp. (a)
 
40,695
1,881,330
Clearfield, Inc. (a)(b)
 
3,548
106,866
CommScope Holding Co., Inc. (a)
 
56,751
50,735
Comtech Telecommunications Corp. (a)
 
7,638
14,359
Digi International, Inc. (a)
 
10,237
313,866
Extreme Networks, Inc. (a)
 
36,430
408,016
Harmonic, Inc. (a)
 
31,787
341,392
Infinera Corp. (a)(b)
 
55,932
269,592
Juniper Networks, Inc.
 
90,366
3,146,544
Lumentum Holdings, Inc. (a)
 
18,971
830,171
NETGEAR, Inc. (a)
 
8,104
119,777
NetScout Systems, Inc. (a)
 
20,021
385,604
ViaSat, Inc. (a)(b)
 
21,168
336,783
Viavi Solutions, Inc. (a)
 
62,683
495,196
 
 
 
9,456,475
Electronic Equipment, Instruments & Components - 2.1%
 
 
 
Advanced Energy Industries, Inc.
 
10,502
1,006,512
Arlo Technologies, Inc. (a)
 
26,945
333,579
Arrow Electronics, Inc. (a)
 
15,128
1,931,392
Avnet, Inc.
 
25,398
1,241,200
Badger Meter, Inc.
 
8,263
1,511,468
Bel Fuse, Inc. Class B (non-vtg.)
 
2,759
162,008
Belden, Inc.
 
11,730
953,297
Benchmark Electronics, Inc.
 
9,984
301,617
Cognex Corp.
 
48,445
2,012,405
Coherent Corp. (a)
 
37,164
2,030,269
Crane NXT Co.
 
13,573
825,374
CTS Corp.
 
8,801
402,646
Daktronics, Inc. (a)
 
11,545
109,100
ePlus, Inc. (a)
 
7,517
577,907
Evolv Technologies Holdings, Inc. (a)(b)
 
21,373
83,568
Fabrinet (a)
 
10,221
1,768,948
FARO Technologies, Inc. (a)(b)
 
5,237
98,194
Insight Enterprises, Inc. (a)
 
7,787
1,421,673
IPG Photonics Corp. (a)
 
8,321
698,798
Itron, Inc. (a)
 
12,803
1,179,412
Kimball Electronics, Inc. (a)
 
6,858
143,538
Knowles Corp. (a)
 
25,287
400,293
Lightwave Logic, Inc. (a)(b)
 
31,772
121,369
Littelfuse, Inc.
 
7,009
1,616,556
Luna Innovations, Inc. (a)(b)
 
9,043
18,629
Methode Electronics, Inc. Class A
 
9,746
118,804
MicroVision, Inc. (a)(b)
 
51,794
75,101
Mirion Technologies, Inc. Class A (a)
 
50,969
554,033
Napco Security Technologies, Inc.
 
8,230
334,961
nLIGHT, Inc. (a)
 
12,845
146,305
Novanta, Inc. (a)
 
10,079
1,577,364
OSI Systems, Inc. (a)
 
4,417
580,570
Ouster, Inc. (a)(b)
 
9,539
86,519
Par Technology Corp. (a)(b)
 
7,785
329,150
PC Connection, Inc.
 
3,256
201,774
Plexus Corp. (a)
 
7,775
785,353
Richardson Electronics Ltd.
 
2,944
31,000
Rogers Corp. (a)
 
4,720
562,105
Sanmina Corp. (a)
 
15,656
949,850
ScanSource, Inc. (a)
 
7,133
296,875
Smartrent, Inc. (a)(b)
 
49,342
114,473
TD SYNNEX Corp.
 
20,752
2,445,416
TTM Technologies, Inc. (a)
 
28,794
429,894
Vishay Intertechnology, Inc.
 
35,576
823,229
Vishay Precision Group, Inc. (a)
 
3,461
114,213
Vontier Corp.
 
43,410
1,763,748
Vuzix Corp. (a)(b)
 
15,573
20,712
 
 
 
33,291,201
IT Services - 0.5%
 
 
 
Amdocs Ltd.
 
33,454
2,809,801
Applied Digital Corp. (a)(b)
 
21,862
59,137
BigCommerce Holdings, Inc. (a)
 
18,473
104,557
Couchbase, Inc. (a)
 
8,592
207,411
Digitalocean Holdings, Inc. (a)
 
14,311
470,259
DXC Technology Co. (a)
 
51,464
1,003,033
Fastly, Inc. Class A (a)
 
33,901
428,848
Grid Dynamics Holdings, Inc. (a)
 
16,096
157,258
Hackett Group, Inc.
 
7,231
156,840
Kyndryl Holdings, Inc. (a)
 
64,739
1,272,769
Perficient, Inc. (a)
 
9,818
463,999
Rackspace Technology, Inc. (a)(b)
 
18,636
32,054
Squarespace, Inc. Class A (a)
 
14,373
501,043
Thoughtworks Holding, Inc. (a)
 
24,787
57,506
Unisys Corp. (a)
 
18,427
100,059
 
 
 
7,824,574
Semiconductors & Semiconductor Equipment - 2.1%
 
 
 
ACM Research, Inc. (a)
 
13,164
335,945
AEHR Test Systems (a)(b)
 
7,229
86,603
Allegro MicroSystems LLC (a)(b)
 
20,108
597,007
Alpha & Omega Semiconductor Ltd. (a)
 
6,603
144,408
Ambarella, Inc. (a)
 
10,649
489,535
Amkor Technology, Inc.
 
29,040
939,444
Atomera, Inc. (a)(b)
 
7,310
33,918
Axcelis Technologies, Inc. (a)
 
9,201
952,488
AXT, Inc. (a)
 
11,297
33,891
CEVA, Inc. (a)
 
6,394
129,606
Cirrus Logic, Inc. (a)
 
15,166
1,343,253
Cohu, Inc. (a)
 
13,383
405,773
Credo Technology Group Holding Ltd. (a)
 
35,482
634,063
Diodes, Inc. (a)
 
12,922
943,435
FormFactor, Inc. (a)
 
21,905
976,744
Ichor Holdings Ltd. (a)
 
8,331
323,076
Impinj, Inc. (a)
 
6,389
1,018,279
indie Semiconductor, Inc. (a)(b)
 
38,377
215,679
Intest Corp. (a)
 
3,210
36,177
Kopin Corp. (a)
 
29,292
23,024
Kulicke & Soffa Industries, Inc.
 
15,856
733,816
Lattice Semiconductor Corp. (a)
 
38,829
2,663,669
MACOM Technology Solutions Holdings, Inc. (a)
 
15,406
1,570,642
MaxLinear, Inc. Class A (a)
 
20,990
436,382
MKS Instruments, Inc.
 
17,671
2,102,496
Navitas Semiconductor Corp. (a)(b)
 
34,083
147,579
NVE Corp. (b)
 
1,326
107,936
Onto Innovation, Inc. (a)
 
13,810
2,561,617
PDF Solutions, Inc. (a)
 
8,429
253,544
Photronics, Inc. (a)
 
17,633
483,321
Pixelworks, Inc. (a)
 
14,853
26,587
Power Integrations, Inc.
 
15,992
1,066,986
Rambus, Inc. (a)
 
30,252
1,658,415
Rigetti Computing, Inc. Class A (a)(b)
 
29,993
38,391
Semtech Corp. (a)
 
18,077
680,057
Silicon Laboratories, Inc. (a)
 
8,974
1,090,251
SiTime Corp. (a)
 
4,921
438,560
SkyWater Technology, Inc. (a)(b)
 
5,335
54,737
SMART Global Holdings, Inc. (a)(b)
 
14,451
264,020
SolarEdge Technologies, Inc. (a)
 
15,985
937,520
Synaptics, Inc. (a)
 
11,051
994,148
Ultra Clean Holdings, Inc. (a)
 
12,617
527,769
Universal Display Corp.
 
12,251
1,935,413
Veeco Instruments, Inc. (a)(b)
 
15,857
560,386
Wolfspeed, Inc. (a)(b)
 
35,390
956,592
 
 
 
31,953,182
Software - 5.5%
 
 
 
8x8, Inc. (a)
 
32,936
72,789
A10 Networks, Inc.
 
19,876
259,581
ACI Worldwide, Inc. (a)
 
30,601
1,043,494
Adeia, Inc.
 
30,514
300,258
Agilysys, Inc. (a)
 
5,680
471,724
Alarm.com Holdings, Inc. (a)
 
14,071
935,722
Alkami Technology, Inc. (a)
 
11,203
269,656
Altair Engineering, Inc. Class A (a)(b)
 
15,367
1,236,275
American Software, Inc. Class A
 
8,845
89,423
Amplitude, Inc. (a)
 
19,712
192,980
AppFolio, Inc. (a)
 
5,755
1,305,119
Appian Corp. Class A (a)
 
11,755
440,107
Asana, Inc. (a)(b)
 
23,180
344,687
Aspen Technology, Inc. (a)
 
7,861
1,547,595
Aurora Innovation, Inc. (a)(b)
 
222,127
616,402
AvePoint, Inc. (a)
 
26,207
203,628
Bentley Systems, Inc. Class B (b)
 
64,654
3,396,275
Bill Holdings, Inc. (a)
 
26,916
1,678,482
Blackbaud, Inc. (a)
 
11,743
915,015
BlackLine, Inc. (a)
 
14,326
831,624
Blend Labs, Inc. (a)
 
45,405
111,242
Box, Inc. Class A (a)(b)
 
40,400
1,051,208
Braze, Inc. (a)
 
14,320
600,008
C3.ai, Inc. (a)(b)
 
26,878
605,561
CCC Intelligent Solutions Holdings, Inc. Class A (a)
 
77,940
874,487
Cerence, Inc. (a)
 
11,831
107,780
Cipher Mining, Inc. (a)(b)
 
12,392
46,098
Cleanspark, Inc. (a)(b)
 
55,733
912,907
Clear Secure, Inc.
 
23,830
416,310
Clearwater Analytics Holdings, Inc. (a)
 
40,382
637,228
CommVault Systems, Inc. (a)
 
12,288
1,259,151
Confluent, Inc. (a)
 
61,712
1,735,341
Consensus Cloud Solutions, Inc. (a)
 
4,874
56,733
CS Disco, Inc. (a)
 
6,505
49,113
D-Wave Quantum, Inc. (a)(b)
 
22,142
30,335
Daily Journal Corp. (a)
 
271
90,839
Digimarc Corp. (a)(b)
 
3,783
79,973
Digital Turbine, Inc. (a)
 
25,303
48,329
Dolby Laboratories, Inc. Class A
 
16,713
1,297,932
Domo, Inc. Class B (a)
 
8,807
66,317
DoubleVerify Holdings, Inc. (a)
 
39,228
1,149,380
Dropbox, Inc. Class A (a)
 
72,040
1,668,446
Dynatrace, Inc. (a)
 
67,312
3,049,907
E2open Parent Holdings, Inc. (a)
 
49,524
240,191
Elastic NV (a)
 
22,978
2,348,811
Enfusion, Inc. Class A (a)
 
10,047
93,538
Envestnet, Inc. (a)
 
13,986
868,111
Everbridge, Inc. (a)
 
11,621
403,830
Five9, Inc. (a)
 
20,454
1,177,537
Freshworks, Inc. (a)
 
47,261
843,609
GitLab, Inc. (a)
 
25,200
1,322,244
Guidewire Software, Inc. (a)
 
22,940
2,532,576
HashiCorp, Inc. (a)
 
33,037
1,072,381
Informatica, Inc. (a)(b)
 
11,176
346,121
Intapp, Inc. (a)
 
11,189
345,964
InterDigital, Inc.
 
7,243
715,101
Jamf Holding Corp. (a)
 
14,592
284,106
Klaviyo, Inc. Class A (b)
 
6,700
150,080
Liveramp Holdings, Inc. (a)
 
18,636
598,402
Manhattan Associates, Inc. (a)
 
17,285
3,561,747
Marathon Digital Holdings, Inc. (a)(b)
 
62,643
1,006,047
Matterport, Inc. (a)
 
65,062
299,285
MeridianLink, Inc. (a)
 
5,651
94,259
Mitek Systems, Inc. (a)
 
12,475
157,559
Model N, Inc. (a)
 
10,002
296,559
N-able, Inc. (a)
 
19,345
237,170
nCino, Inc. (a)
 
17,204
501,669
NCR Voyix Corp. (a)
 
37,738
462,291
Nextnav, Inc. (a)(b)
 
12,129
110,495
Nutanix, Inc. Class A (a)
 
68,140
4,136,098
Olo, Inc. (a)
 
29,924
143,635
ON24, Inc.
 
10,989
72,418
Onespan, Inc. (a)
 
10,144
109,758
Pagerduty, Inc. (a)(b)
 
25,607
511,116
Pegasystems, Inc.
 
11,994
712,683
Porch Group, Inc. Class A (a)
 
21,941
69,992
PowerSchool Holdings, Inc. (a)(b)
 
16,231
281,121
Procore Technologies, Inc. (a)
 
25,030
1,712,553
Progress Software Corp.
 
12,346
615,078
PROS Holdings, Inc. (a)(b)
 
12,041
394,343
Q2 Holdings, Inc. (a)
 
16,524
849,168
Qualys, Inc. (a)
 
10,357
1,697,616
Rapid7, Inc. (a)
 
17,302
775,130
Rekor Systems, Inc. (a)
 
21,859
38,690
RingCentral, Inc. (a)
 
23,602
699,091
Riot Platforms, Inc. (a)(b)
 
58,162
588,018
Samsara, Inc. (a)
 
48,373
1,689,669
Semrush Holdings, Inc. (a)
 
8,286
101,421
SentinelOne, Inc. (a)
 
70,007
1,479,248
Smartsheet, Inc. (a)
 
38,349
1,450,743
SolarWinds, Inc.
 
13,959
153,828
SoundHound AI, Inc. (a)(b)
 
61,520
260,845
Sprinklr, Inc. (a)(b)
 
33,410
390,563
Sprout Social, Inc. (a)(b)
 
13,739
693,133
SPS Commerce, Inc. (a)
 
10,328
1,795,729
Telos Corp. (a)
 
13,512
46,481
Tenable Holdings, Inc. (a)
 
32,955
1,481,986
Teradata Corp. (a)
 
27,511
1,020,658
TeraWulf, Inc. (a)
 
36,361
78,903
UiPath, Inc. Class A (a)
 
114,316
2,168,575
Unity Software, Inc. (a)(b)
 
67,364
1,634,924
Varonis Systems, Inc. (a)
 
30,731
1,344,481
Verint Systems, Inc. (a)
 
17,605
533,079
Veritone, Inc. (a)(b)
 
9,002
29,437
Vertex, Inc. Class A (a)
 
12,751
371,437
Weave Communications, Inc. (a)
 
8,470
90,544
Workiva, Inc. (a)
 
13,411
1,056,787
Xperi, Inc. (a)
 
11,869
124,743
Yext, Inc. (a)
 
28,570
156,849
Zeta Global Holdings Corp. (a)
 
42,597
526,499
Zuora, Inc. (a)
 
38,017
374,848
 
 
 
84,627,062
Technology Hardware, Storage & Peripherals - 0.4%
 
 
 
Corsair Gaming, Inc. (a)
 
12,079
134,077
Diebold Nixdorf, Inc.
 
10,598
335,533
Eastman Kodak Co. (a)(b)
 
19,154
86,193
Immersion Corp.
 
8,372
60,864
IonQ, Inc. (a)(b)
 
48,591
415,453
Pure Storage, Inc. Class A (a)
 
83,457
4,206,233
Turtle Beach Corp. (a)
 
4,876
68,752
Xerox Holdings Corp.
 
31,845
423,220
 
 
 
5,730,325
TOTAL INFORMATION TECHNOLOGY
 
 
172,882,819
MATERIALS - 5.4%
 
 
 
Chemicals - 2.1%
 
 
 
AdvanSix, Inc.
 
7,679
193,972
Alto Ingredients, Inc. (a)
 
19,728
37,286
American Vanguard Corp.
 
7,401
84,297
Arcadium Lithium PLC (b)
 
290,219
1,276,964
Ashland, Inc.
 
14,095
1,343,676
Aspen Aerogels, Inc. (a)
 
16,126
252,533
Avient Corp.
 
25,611
1,086,419
Axalta Coating Systems Ltd. (a)
 
61,805
1,943,149
Balchem Corp.
 
9,068
1,282,034
Cabot Corp.
 
15,587
1,422,002
Core Molding Technologies, Inc. (a)
 
2,209
39,806
Danimer Scientific, Inc. (a)(b)
 
24,404
18,303
Ecovyst, Inc. (a)
 
29,043
273,875
Element Solutions, Inc.
 
62,437
1,444,168
FMC Corp.
 
35,094
2,070,897
Ginkgo Bioworks Holdings, Inc. Class A (a)(b)
 
380,206
338,802
H.B. Fuller Co.
 
15,208
1,136,190
Hawkins, Inc.
 
5,381
407,718
Huntsman Corp.
 
45,606
1,088,159
Ingevity Corp. (a)
 
9,362
478,773
Innospec, Inc.
 
6,998
839,760
Intrepid Potash, Inc. (a)
 
2,425
48,791
Koppers Holdings, Inc.
 
5,885
301,783
Kronos Worldwide, Inc.
 
6,225
71,276
LSB Industries, Inc. (a)
 
14,403
133,948
Mativ, Inc.
 
15,203
277,607
Minerals Technologies, Inc.
 
9,138
666,069
NewMarket Corp.
 
1,940
1,022,225
Olin Corp.
 
33,740
1,763,927
Origin Materials, Inc. Class A (a)(b)
 
33,032
26,739
Orion SA
 
16,433
388,805
Perimeter Solutions SA (a)
 
40,771
285,397
PureCycle Technologies, Inc. (a)(b)
 
38,229
178,529
Quaker Houghton
 
3,896
726,721
Rayonier Advanced Materials, Inc. (a)
 
18,353
68,457
RPM International, Inc.
 
36,120
3,861,589
Sensient Technologies Corp.
 
11,879
869,780
Stepan Co.
 
6,009
498,687
The Chemours Co. LLC
 
41,763
1,117,160
The Scotts Miracle-Gro Co. Class A (b)
 
11,795
808,429
Trinseo PLC
 
9,234
24,101
Tronox Holdings PLC
 
32,654
554,791
Westlake Corp.
 
9,002
1,326,535
 
 
 
32,080,129
Construction Materials - 0.3%
 
 
 
Eagle Materials, Inc.
 
9,693
2,430,132
Knife River Holding Co.
 
15,913
1,244,237
Summit Materials, Inc. (a)
 
33,798
1,314,742
United States Lime & Minerals, Inc.
 
580
179,800
 
 
 
5,168,911
Containers & Packaging - 1.2%
 
 
 
Aptargroup, Inc.
 
18,520
2,673,918
Ardagh Metal Packaging SA
 
39,431
155,752
Berry Global Group, Inc.
 
32,544
1,843,292
Crown Holdings, Inc.
 
33,666
2,762,969
Graphic Packaging Holding Co.
 
86,120
2,226,202
Greif, Inc. Class A
 
6,731
412,476
Myers Industries, Inc.
 
10,418
228,154
O-I Glass, Inc. (a)
 
43,569
651,792
Pactiv Evergreen, Inc.
 
10,761
163,998
Ranpak Holdings Corp. (A Shares) (a)
 
10,718
77,598
Sealed Air Corp.
 
40,672
1,280,355
Silgan Holdings, Inc.
 
22,764
1,062,168
Sonoco Products Co.
 
27,513
1,542,104
TriMas Corp.
 
11,697
304,005
WestRock Co.
 
72,165
3,461,033
 
 
 
18,845,816
Metals & Mining - 1.6%
 
 
 
Alcoa Corp.
 
50,208
1,764,309
Alpha Metallurgical Resources
 
3,328
1,088,655
American Battery Technology Co. (a)(b)
 
14,086
18,312
AngloGold Ashanti PLC
 
117,988
2,712,544
Arch Resources, Inc. (b)
 
5,171
821,051
ATI, Inc. (a)
 
35,888
2,142,514
Carpenter Technology Corp.
 
13,900
1,191,230
Century Aluminum Co. (a)
 
14,704
255,114
Cleveland-Cliffs, Inc. (a)
 
140,171
2,368,890
Coeur d'Alene Mines Corp. (a)
 
107,771
487,125
Commercial Metals Co.
 
32,725
1,758,642
Compass Minerals International, Inc.
 
9,285
115,598
Gatos Silver, Inc. (a)
 
12,879
123,252
Haynes International, Inc.
 
3,537
212,751
Hecla Mining Co.
 
159,573
754,780
Kaiser Aluminum Corp.
 
4,458
403,404
Materion Corp.
 
5,813
668,146
McEwen Mining, Inc. (a)
 
11,516
131,973
Metallus, Inc. (a)
 
10,646
218,882
MP Materials Corp. (a)(b)
 
40,545
648,720
Olympic Steel, Inc.
 
2,824
179,522
Piedmont Lithium, Inc. (a)(b)
 
4,844
59,339
Radius Recycling, Inc. Class A
 
7,051
122,828
Ramaco Resources, Inc. (b)
 
9,819
153,962
Royal Gold, Inc.
 
18,472
2,219,041
Ryerson Holding Corp.
 
8,281
236,423
SunCoke Energy, Inc.
 
23,881
246,213
United States Steel Corp.
 
62,920
2,296,580
Universal Stainless & Alloy Products, Inc. (a)
 
2,383
62,315
Warrior Metropolitan Coal, Inc.
 
14,640
1,000,644
Worthington Steel, Inc.
 
8,554
263,378
 
 
 
24,726,137
Paper & Forest Products - 0.2%
 
 
 
Clearwater Paper Corp. (a)
 
4,564
205,563
Glatfelter Corp. (a)
 
11,955
17,096
Louisiana-Pacific Corp.
 
18,084
1,323,568
Mercer International, Inc. (SBI)
 
12,056
122,127
Sylvamo Corp.
 
9,940
621,250
 
 
 
2,289,604
TOTAL MATERIALS
 
 
83,110,597
REAL ESTATE - 6.4%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 5.8%
 
 
 
Acadia Realty Trust (SBI)
 
29,283
506,010
Agree Realty Corp.
 
28,381
1,623,961
Alexander & Baldwin, Inc.
 
21,355
351,717
Alexanders, Inc.
 
600
126,936
American Assets Trust, Inc.
 
14,117
301,398
American Homes 4 Rent Class A
 
89,453
3,202,417
Americold Realty Trust
 
75,080
1,649,508
Apartment Income (REIT) Corp.
 
40,612
1,558,689
Apartment Investment & Management Co. Class A (a)
 
38,075
304,600
Apple Hospitality (REIT), Inc.
 
60,421
891,814
Armada Hoffler Properties, Inc.
 
19,375
203,825
Boston Properties, Inc.
 
40,682
2,517,809
Brandywine Realty Trust (SBI)
 
48,050
218,147
Brixmor Property Group, Inc.
 
84,979
1,878,036
Broadstone Net Lease, Inc.
 
53,327
776,441
Camden Property Trust (SBI)
 
30,101
3,000,468
CareTrust (REIT), Inc.
 
36,882
911,723
CBL & Associates Properties, Inc.
 
7,363
160,145
Centerspace
 
4,348
292,403
Chatham Lodging Trust
 
14,339
131,489
City Office REIT, Inc.
 
11,449
53,352
Community Healthcare Trust, Inc.
 
6,832
181,253
COPT Defense Properties (SBI)
 
31,915
765,003
Cousins Properties, Inc.
 
43,140
989,632
CTO Realty Growth, Inc.
 
6,161
106,893
CubeSmart
 
63,416
2,564,543
DiamondRock Hospitality Co.
 
60,120
535,068
Diversified Healthcare Trust (SBI)
 
59,690
140,868
Douglas Emmett, Inc.
 
47,176
646,783
Easterly Government Properties, Inc.
 
27,326
319,441
EastGroup Properties, Inc.
 
13,478
2,093,942
Elme Communities (SBI)
 
24,991
378,864
Empire State Realty Trust, Inc.
 
37,522
341,450
EPR Properties
 
21,425
869,641
Equity Commonwealth (a)
 
30,416
569,388
Equity Lifestyle Properties, Inc.
 
52,398
3,159,075
Essential Properties Realty Trust, Inc.
 
44,344
1,168,021
Farmland Partners, Inc.
 
12,631
135,910
Federal Realty Investment Trust (SBI)
 
20,668
2,152,986
First Industrial Realty Trust, Inc.
 
37,194
1,689,351
Four Corners Property Trust, Inc.
 
25,828
605,667
Getty Realty Corp.
 
14,109
382,354
Gladstone Commercial Corp.
 
12,134
162,232
Gladstone Land Corp.
 
9,858
124,999
Global Medical REIT, Inc.
 
18,186
147,488
Global Net Lease, Inc.
 
55,490
385,656
Healthcare Realty Trust, Inc.
 
107,407
1,528,402
Highwoods Properties, Inc. (SBI)
 
29,920
783,904
Hudson Pacific Properties, Inc. (b)
 
35,093
203,539
Independence Realty Trust, Inc.
 
63,508
1,001,521
Industrial Logistics Properties Trust
 
15,972
56,221
InvenTrust Properties Corp.
 
19,400
491,596
JBG SMITH Properties
 
24,855
373,074
Kilroy Realty Corp.
 
30,174
1,019,881
Kimco Realty Corp.
 
187,253
3,488,523
Kite Realty Group Trust
 
62,161
1,355,110
Lamar Advertising Co. Class A
 
24,624
2,852,690
LTC Properties, Inc.
 
11,964
396,008
LXP Industrial Trust (REIT)
 
83,378
696,206
Medical Properties Trust, Inc. (b)
 
168,634
775,716
National Health Investors, Inc.
 
12,301
775,701
National Storage Affiliates Trust
 
21,933
768,532
Net Lease Office Properties
 
4,142
94,686
NETSTREIT Corp.
 
19,991
336,848
NexPoint Residential Trust, Inc.
 
6,486
222,081
NNN (REIT), Inc.
 
51,539
2,088,876
Office Properties Income Trust
 
13,320
26,906
Omega Healthcare Investors, Inc.
 
69,065
2,100,267
One Liberty Properties, Inc.
 
4,666
106,898
Orion Office (REIT), Inc.
 
15,560
48,547
Outfront Media, Inc.
 
40,961
649,641
Paramount Group, Inc.
 
47,348
219,695
Park Hotels & Resorts, Inc.
 
59,391
957,977
Peakstone Realty Trust
 
10,235
142,983
Pebblebrook Hotel Trust
 
34,223
497,260
Phillips Edison & Co., Inc.
 
34,783
1,137,404
Piedmont Office Realty Trust, Inc. Class A
 
36,042
248,329
Plymouth Industrial REIT, Inc.
 
10,937
228,365
Postal Realty Trust, Inc.
 
6,580
91,133
Potlatch Corp.
 
22,517
900,905
Rayonier, Inc.
 
38,505
1,142,058
Regency Centers Corp.
 
46,210
2,736,556
Retail Opportunity Investments Corp.
 
36,122
443,217
Rexford Industrial Realty, Inc.
 
59,497
2,547,067
RLJ Lodging Trust
 
44,429
488,719
Ryman Hospitality Properties, Inc.
 
16,875
1,779,975
Sabra Health Care REIT, Inc.
 
65,323
909,296
Safehold, Inc.
 
12,554
228,985
Saul Centers, Inc.
 
3,741
136,210
Service Properties Trust
 
47,760
292,769
SITE Centers Corp.
 
51,194
690,607
SL Green Realty Corp.
 
18,276
910,693
STAG Industrial, Inc.
 
51,394
1,767,440
Summit Hotel Properties, Inc.
 
31,444
188,978
Sunstone Hotel Investors, Inc.
 
58,744
599,189
Tanger, Inc.
 
30,503
864,760
Terreno Realty Corp.
 
26,453
1,437,721
The Macerich Co.
 
60,935
838,466
UMH Properties, Inc.
 
18,190
289,585
Uniti Group, Inc.
 
67,331
387,153
Universal Health Realty Income Trust (SBI)
 
3,631
130,825
Urban Edge Properties
 
33,576
561,726
Veris Residential, Inc.
 
22,927
330,378
Vornado Realty Trust
 
45,058
1,172,860
Whitestone REIT Class B
 
13,425
154,388
Xenia Hotels & Resorts, Inc.
 
30,105
417,556
 
 
 
89,389,998
Real Estate Management & Development - 0.6%
 
 
 
Anywhere Real Estate, Inc. (a)
 
30,954
150,436
Compass, Inc. (a)
 
93,447
294,358
Cushman & Wakefield PLC (a)
 
47,388
457,294
Digitalbridge Group, Inc.
 
40,487
665,606
Douglas Elliman, Inc.
 
20,007
27,210
eXp World Holdings, Inc.
 
21,609
215,226
Forestar Group, Inc. (a)
 
5,044
156,314
Howard Hughes Holdings, Inc.
 
9,138
595,432
Jones Lang LaSalle, Inc. (a)
 
13,388
2,419,212
Kennedy-Wilson Holdings, Inc.
 
33,095
284,286
Marcus & Millichap, Inc.
 
6,718
212,759
Newmark Group, Inc.
 
33,983
325,217
Opendoor Technologies, Inc. (a)(b)
 
162,700
323,773
RE/MAX Holdings, Inc.
 
4,857
34,096
Redfin Corp. (a)(b)
 
31,525
176,855
Seritage Growth Properties (a)
 
10,243
95,670
The RMR Group, Inc.
 
3,893
92,342
The St. Joe Co.
 
10,049
574,803
Zillow Group, Inc.:
 
 
 
 Class A (a)
 
15,770
662,340
 Class C (a)
 
43,759
1,862,821
 
 
 
9,626,050
TOTAL REAL ESTATE
 
 
99,016,048
UTILITIES - 2.5%
 
 
 
Electric Utilities - 1.1%
 
 
 
Allete, Inc.
 
16,158
956,877
Avangrid, Inc.
 
19,551
714,198
Genie Energy Ltd. Class B
 
6,158
94,156
Hawaiian Electric Industries, Inc. (b)
 
31,049
305,833
IDACORP, Inc.
 
14,216
1,347,392
MGE Energy, Inc. (b)
 
10,177
797,063
NRG Energy, Inc.
 
63,404
4,607,569
OGE Energy Corp.
 
56,040
1,941,786
Otter Tail Corp. (b)
 
11,737
1,001,870
Pinnacle West Capital Corp.
 
31,866
2,346,931
PNM Resources, Inc.
 
24,113
893,628
Portland General Electric Co.
 
28,391
1,227,343
 
 
 
16,234,646
Gas Utilities - 0.6%
 
 
 
Chesapeake Utilities Corp.
 
6,255
662,217
National Fuel Gas Co.
 
25,890
1,374,759
New Jersey Resources Corp.
 
27,560
1,204,096
Northwest Natural Holding Co.
 
10,391
396,417
ONE Gas, Inc.
 
15,582
1,005,351
Southwest Gas Holdings, Inc.
 
16,899
1,261,003
Spire, Inc.
 
15,426
953,173
UGI Corp.
 
58,924
1,506,097
 
 
 
8,363,113
Independent Power and Renewable Electricity Producers - 0.1%
 
 
 
Altus Power, Inc. Class A (a)(b)
 
16,304
59,836
Clearway Energy, Inc.:
 
 
 
 Class A
 
10,679
231,841
 Class C (b)
 
22,388
523,431
Montauk Renewables, Inc. (a)
 
17,287
62,233
Ormat Technologies, Inc.
 
15,142
966,514
Sunnova Energy International, Inc. (a)(b)
 
28,870
121,543
 
 
 
1,965,398
Multi-Utilities - 0.4%
 
 
 
Avista Corp.
 
21,742
782,277
Black Hills Corp.
 
19,123
1,049,853
NiSource, Inc.
 
115,707
3,223,597
NorthWestern Energy Corp.
 
17,198
867,467
Unitil Corp.
 
4,578
233,203
 
 
 
6,156,397
Water Utilities - 0.3%
 
 
 
American States Water Co.
 
10,411
737,515
Artesian Resources Corp. Class A
 
2,810
98,294
California Water Service Group
 
16,265
798,937
Consolidated Water Co., Inc.
 
4,112
104,650
Essential Utilities, Inc.
 
70,493
2,578,634
Middlesex Water Co.
 
5,064
256,846
SJW Group
 
8,199
446,436
York Water Co.
 
4,152
147,438
 
 
 
5,168,750
TOTAL UTILITIES
 
 
37,888,304
 
TOTAL COMMON STOCKS
 (Cost $1,466,339,131)
 
 
 
1,538,092,332
 
 
 
 
U.S. Treasury Obligations - 0.0%
 
 
Principal
Amount (d)
 
Value ($)
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (e)
 
 (Cost $199,360)
 
 
200,000
199,355
 
 
 
 
Money Market Funds - 6.7%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (f)
 
1,632,268
1,632,594
Fidelity Securities Lending Cash Central Fund 5.39% (f)(g)
 
100,483,283
100,493,331
 
TOTAL MONEY MARKET FUNDS
 (Cost $102,125,925)
 
 
102,125,925
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 106.5%
 (Cost $1,568,664,416)
 
 
 
1,640,417,612
NET OTHER ASSETS (LIABILITIES) - (6.5)%  
(99,447,120)
NET ASSETS - 100.0%
1,540,970,492
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
CME E-mini Russell 2000 Index Contracts (United States)
16
Jun 2024
1,588,480
1,452
1,452
CME E-mini S&P MidCap 400 Index Contracts (United States)
4
Jun 2024
1,150,880
154
154
 
 
 
 
 
 
TOTAL FUTURES CONTRACTS
 
 
 
 
1,606
The notional amount of futures purchased as a percentage of Net Assets is 0.2%
 
 
Legend
 
(a)
Non-income producing
 
(b)
Security or a portion of the security is on loan at period end.
 
(c)
Level 3 security
 
(d)
Amount is stated in United States dollars unless otherwise noted.
 
(e)
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 $189,387.
 
(f)
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.
 
(g)
Investment made with cash collateral received from securities on loan.
 
(h)
Equity security is subject to lock-up or market standoff agreement and valued at a discount to the market price of the equivalent equity security. As of period end, the total fair value of equity securities discounted due to contractual sale restrictions is $9,942 and all restrictions are set to expire on or before  September 30, 2024.  Under normal market conditions, there are no circumstances that could cause the restrictions to lapse.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
607,990
130,140,287
129,115,578
132,083
(105)
-
1,632,594
0.0%
Fidelity Securities Lending Cash Central Fund 5.39%
103,999,390
188,002,602
191,508,661
648,192
-
-
100,493,331
0.4%
Total
104,607,380
318,142,889
320,624,239
780,275
(105)
-
102,125,925
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
46,744,377
46,744,377
-
-
Consumer Discretionary
198,422,917
198,422,917
-
-
Consumer Staples
63,175,373
63,175,373
-
-
Energy
81,715,748
81,715,748
-
-
Financials
248,211,283
248,211,283
-
-
Health Care
193,133,148
193,104,681
9,942
18,525
Industrials
313,791,718
313,791,718
-
-
Information Technology
172,882,819
172,882,819
-
-
Materials
83,110,597
83,110,597
-
-
Real Estate
99,016,048
99,016,048
-
-
Utilities
37,888,304
37,888,304
-
-
 U.S. Government and Government Agency Obligations
199,355
-
199,355
-
  Money Market Funds
102,125,925
102,125,925
-
-
 Total Investments in Securities:
1,640,417,612
1,640,189,790
209,297
18,525
 Derivative Instruments:
 Assets
 
 
 
 
Futures Contracts
1,606
1,606
-
-
  Total Assets
1,606
1,606
-
-
 Total Derivative Instruments:
1,606
1,606
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
1,606
0
Total Equity Risk
1,606
0
Total Value of Derivatives
1,606
0
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Fidelity ZERO® Extended Market Index Fund
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  (including  securities loaned of $94,313,940) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $1,466,538,491)
$
1,538,291,687
 
 
Fidelity Central Funds (cost $102,125,925)
102,125,925
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $1,568,664,416)
 
 
$
1,640,417,612
Cash
 
 
37,970
Foreign currency held at value (cost $271,667)
 
 
269,774
Receivable for fund shares sold
 
 
794,323
Dividends receivable
 
 
667,845
Distributions receivable from Fidelity Central Funds
 
 
161,371
Other receivables
 
 
25,972
  Total assets
 
 
1,642,374,867
Liabilities
 
 
 
 
Payable for investments purchased
$
34,069
 
 
Payable for fund shares redeemed
820,212
 
 
Payable for daily variation margin on futures contracts
56,275
 
 
Collateral on securities loaned
100,493,819
 
 
  Total liabilities
 
 
 
101,404,375
Net Assets  
 
 
$
1,540,970,492
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
1,455,032,542
Total accumulated earnings (loss)
 
 
 
85,937,950
Net Assets
 
 
$
1,540,970,492
Net Asset Value, offering price and redemption price per share ($1,540,970,492 ÷ 126,238,080 shares)
 
 
$
12.21
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
10,873,656
Interest  
 
 
12,765
Income from Fidelity Central Funds (including $648,192 from security lending)
 
 
780,275
 Total income
 
 
 
11,666,696
Expenses
 
 
 
 
Independent trustees' fees and expenses
$
3,651
 
 
 Total expenses before reductions
 
3,651
 
 
 Expense reductions
 
(904)
 
 
 Total expenses after reductions
 
 
 
2,747
Net Investment income (loss)
 
 
 
11,663,949
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
(1,000,340)
 
 
   Redemptions in-kind
 
45,100,121
 
 
   Fidelity Central Funds
 
(105)
 
 
 Foreign currency transactions
 
(14,155)
 
 
 Futures contracts
 
448,940
 
 
Total net realized gain (loss)
 
 
 
44,534,461
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
204,323,022
 
 
 Assets and liabilities in foreign currencies
 
17,859
 
 
 Futures contracts
 
105,142
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
204,446,023
Net gain (loss)
 
 
 
248,980,484
Net increase (decrease) in net assets resulting from operations
 
 
$
260,644,433
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
11,663,949
$
23,283,500
Net realized gain (loss)
 
44,534,461
 
 
9,994,020
 
Change in net unrealized appreciation (depreciation)
 
204,446,023
 
(93,786,502)
 
Net increase (decrease) in net assets resulting from operations
 
260,644,433
 
 
(60,508,982)
 
Distributions to shareholders
 
(21,540,620)
 
 
(20,138,817)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
250,001,911
 
329,136,690
  Reinvestment of distributions
 
19,026,243
 
 
18,225,185
 
Cost of shares redeemed
 
(237,780,329)
 
(261,856,991)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
31,247,825
 
 
85,504,884
 
Total increase (decrease) in net assets
 
270,351,638
 
 
4,857,085
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
1,270,618,854
 
1,265,761,769
 
End of period
$
1,540,970,492
$
1,270,618,854
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
20,664,600
 
29,748,985
  Issued in reinvestment of distributions
 
1,582,882
 
 
1,734,080
 
Redeemed
 
(19,749,238)
 
(23,837,725)
Net increase (decrease)
 
2,498,244
 
7,645,340
 
 
 
 
 
 
Financial Highlights
 
Fidelity ZERO® Extended Market Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 
 
2020 
 
2019   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
10.27
$
10.90
$
14.09
$
9.48
$
9.66
$
8.99
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.09
 
.19
 
.18
 
.18
 
.14
 
.15
     Net realized and unrealized gain (loss)
 
2.03
 
(.65)
 
(2.46)
 
4.68
 
(.14)
 
.56
  Total from investment operations
 
2.12  
 
(.46)  
 
(2.28)  
 
4.86  
 
-
 
.71
  Distributions from net investment income
 
(.18)
 
(.17)
 
(.16)
 
(.14)
 
(.13)
 
(.04)
  Distributions from net realized gain
 
-
 
-
 
(.75)
 
(.11)
 
(.06)
 
-
     Total distributions
 
(.18)
 
(.17)
 
(.91)
 
(.25)
 
(.18) C
 
(.04)
  Net asset value, end of period
$
12.21
$
10.27
$
10.90
$
14.09
$
9.48
$
9.66
 Total Return D,E
 
20.62
%
 
 
(4.23)%
 
(16.99)%
 
51.93%
 
(.06)%
 
7.97%
 Ratios to Average Net Assets B,F,G
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions H
 
-% I
 
-%
 
-%
 
-%
 
-%
 
-%
    Expenses net of fee waivers, if any H
 
-
% I
 
 
-%
 
-%
 
-%
 
-%
 
-%
    Expenses net of all reductions H
 
-% I
 
-%
 
-%
 
-%
 
-%
 
-%
    Net investment income (loss)
 
1.55% I
 
1.74%
 
1.57%
 
1.38%
 
1.55%
 
1.64%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
1,540,970
$
1,270,619
$
1,265,762
$
1,395,074
$
591,543
$
452,039
    Portfolio turnover rate J
 
8
% I,K
 
 
7% K
 
16% K
 
25%
 
26%
 
14%
 
ACalculated based on average shares outstanding during the period.
 
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
CTotal distributions per share do not sum due to rounding.
 
DTotal returns for periods of less than one year are not annualized.
 
ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
FFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
HAmount represents less than .005%.
 
IAnnualized.
 
JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
KPortfolio turnover rate excludes securities received or delivered in-kind.
 
 
Top Holdings (% of Fund's net assets)
 
Taiwan Semiconductor Manufacturing Co. Ltd.  (Taiwan, Semiconductors & Semiconductor Equipment)
2.2
 
Novo Nordisk A/S Series B  (Denmark, Pharmaceuticals)
1.5
 
ASML Holding NV (Netherlands)  (Netherlands, Semiconductors & Semiconductor Equipment)
1.3
 
Samsung Electronics Co. Ltd.  (Korea (South), Technology Hardware, Storage & Peripherals)
1.1
 
Toyota Motor Corp.  (Japan, Automobiles)
1.1
 
Tencent Holdings Ltd.  (China, Interactive Media & Services)
1.0
 
Nestle SA (Reg. S)  (United States of America, Food Products)
1.0
 
AstraZeneca PLC (United Kingdom) (United Kingdom, Pharmaceuticals)
0.9
 
Shell PLC (London)  (United States of America, Oil, Gas & Consumable Fuels)
0.8
 
LVMH Moet Hennessy Louis Vuitton SE  (France, Textiles, Apparel & Luxury Goods)
0.8
 
 
11.7
 
 
Market Sectors (% of Fund's net assets)
 
Financials
23.0
 
Industrials
13.5
 
Information Technology
12.2
 
Consumer Discretionary
11.0
 
Health Care
8.7
 
Materials
7.7
 
Consumer Staples
6.9
 
Energy
5.5
 
Communication Services
5.0
 
Utilities
2.6
 
Real Estate
1.5
 
 
Asset Allocation (% of Fund's net assets)
Futures - 2.5%
Geographic Diversification (% of Fund's net assets)
 
*    Includes Short-Term investments and Net Other Assets (Liabilities). 
Percentages are adjusted for the effect of derivatives, if applicable.
 
 
Fidelity ZERO® International Index Fund
Common Stocks - 96.8%
 
 
Shares
Value ($)
 
Australia - 4.7%
 
 
 
AGL Energy Ltd.
 
90,520
551,318
ALS Ltd.
 
70,397
588,590
Altium Ltd.
 
18,390
776,975
Alumina Ltd. (a)
 
358,471
368,267
AMP Ltd.
 
395,292
278,220
Ampol Ltd.
 
35,727
843,650
Ansell Ltd.
 
18,850
309,915
ANZ Group Holdings Ltd.
 
441,879
7,973,233
APA Group unit
 
188,559
1,006,241
Aristocrat Leisure Ltd.
 
94,116
2,401,839
ASX Ltd.
 
28,666
1,171,010
Atlas Arteria Ltd. unit
 
170,857
569,028
Aurizon Holdings Ltd.
 
274,354
673,882
Bank of Queensland Ltd.
 
93,291
368,514
Bendigo & Adelaide Bank Ltd.
 
82,871
519,446
BHP Group Ltd.
 
746,133
20,463,530
BlueScope Steel Ltd.
 
66,331
968,129
Brambles Ltd.
 
205,144
1,929,924
CAR Group Ltd.
 
55,239
1,197,776
Challenger Ltd.
 
71,114
306,388
Charter Hall Group unit
 
68,556
520,630
Cleanaway Waste Management Ltd.
 
335,229
579,937
Cochlear Ltd.
 
9,639
2,010,772
Coles Group Ltd.
 
197,512
2,059,896
Commonwealth Bank of Australia
 
246,504
18,061,232
Computershare Ltd.
 
83,804
1,472,300
DEXUS Property Group unit
 
157,699
716,302
EBOS Group Ltd.
 
23,169
477,444
Endeavour Group Ltd.
 
200,154
688,311
Evolution Mining Ltd.
 
296,959
765,793
Fortescue Ltd.
 
248,987
4,126,822
Glencore PLC
 
1,636,425
9,521,644
Goodman Group unit
 
254,701
5,144,866
IDP Education Ltd.
 
41,520
432,925
IGO Ltd.
 
100,628
501,196
Iluka Resources Ltd.
 
60,968
296,464
Incitec Pivot Ltd.
 
294,133
528,142
Insurance Australia Group Ltd.
 
354,171
1,467,322
JB Hi-Fi Ltd.
 
16,321
636,880
Lendlease Group unit
 
99,933
412,128
Lynas Rare Earths Ltd. (a)
 
139,446
583,073
Macquarie Group Ltd.
 
52,711
6,311,537
Magellan Financial Group Ltd. warrants 4/16/27 (a)
 
1,938
149
Medibank Private Ltd.
 
407,330
933,543
Metcash Ltd.
 
141,496
358,818
Mineral Resources Ltd.
 
25,616
1,162,002
Mirvac Group unit
 
594,343
778,749
National Australia Bank Ltd.
 
457,767
9,923,258
NEXTDC Ltd. (a)
 
90,239
957,931
Northern Star Resources Ltd.
 
169,343
1,605,157
Orica Ltd.
 
69,772
807,871
Origin Energy Ltd.
 
253,286
1,598,594
Orora Ltd.
 
193,202
270,810
Pilbara Minerals Ltd. (b)
 
415,859
1,058,737
Pro Medicus Ltd.
 
7,644
546,126
Qantas Airways Ltd. (a)
 
122,380
461,728
QBE Insurance Group Ltd.
 
220,166
2,518,472
Qube Holdings Ltd.
 
258,126
549,103
Ramsay Health Care Ltd.
 
27,715
929,013
REA Group Ltd.
 
7,525
862,576
Reece Ltd.
 
30,772
545,885
Rio Tinto Ltd.
 
54,618
4,545,547
Rio Tinto PLC
 
164,571
11,135,002
Santos Ltd.
 
478,408
2,347,724
Scentre Group unit
 
772,885
1,565,131
SEEK Ltd.
 
52,292
807,798
Seven Group Holdings Ltd.
 
22,667
550,788
Sonic Healthcare Ltd.
 
70,197
1,206,383
South32 Ltd.
 
667,757
1,523,475
Steadfast Group Ltd.
 
167,635
610,094
Stockland Corp. Ltd. unit
 
351,036
994,526
Suncorp Group Ltd.
 
187,078
1,998,071
Technology One Ltd.
 
42,630
441,528
Telstra Group Ltd.
 
593,805
1,402,931
The GPT Group
 
281,463
756,976
The Lottery Corp. Ltd.
 
329,384
1,027,511
Transurban Group unit
 
454,884
3,652,018
Treasury Wine Estates Ltd.
 
120,658
935,728
Vicinity Centres unit
 
570,038
698,051
Washington H. Soul Pattinson & Co. Ltd.
 
36,290
759,462
Wesfarmers Ltd.
 
167,158
7,160,919
Westpac Banking Corp.
 
514,962
8,551,636
Whitehaven Coal Ltd.
 
120,628
596,685
WiseTech Global Ltd.
 
26,955
1,587,988
Woodside Energy Group Ltd.
 
279,690
5,011,208
Woolworths Group Ltd.
 
180,045
3,694,005
WorleyParsons Ltd.
 
54,988
530,810
TOTAL AUSTRALIA
 
 
190,542,008
Austria - 0.2%
 
 
 
ams-OSRAM AG (a)
 
135,692
164,808
Andritz AG
 
10,643
583,812
BAWAG Group AG (c)
 
11,634
697,768
CA Immobilien Anlagen AG
 
6,263
203,858
DO & CO Restaurants & Catering AG
 
1,025
157,300
Erste Group Bank AG
 
52,022
2,435,569
Immofinanz AG (a)(d)
 
7,756
0
Mondi PLC
 
65,097
1,235,584
OMV AG
 
20,688
986,455
Raiffeisen International Bank-Holding AG
 
19,461
360,961
UNIQA Insurance Group AG
 
17,977
158,277
Verbund AG
 
12,338
942,765
Voestalpine AG
 
15,502
415,579
Wienerberger AG
 
15,672
561,296
TOTAL AUSTRIA
 
 
8,904,032
Belgium - 0.6%
 
 
 
Ackermans & Van Haaren SA
 
3,417
588,930
Aedifica SA
 
7,050
452,554
Aedifica SA rights (a)(e)
 
5,998
12,262
Ageas
 
25,314
1,165,431
Anheuser-Busch InBev SA NV
 
132,418
7,915,126
Cofinimmo SA
 
5,271
350,451
D'ieteren Group
 
3,274
709,983
Elia Group SA/NV
 
5,056
487,507
Groupe Bruxelles Lambert SA
 
14,286
1,064,934
KBC Group NV
 
49,815
3,716,064
Lotus Bakeries SA
 
58
583,694
Sofina SA
 
2,284
538,197
Solvay SA Class A
 
10,419
336,570
Syensqo SA
 
10,771
1,002,233
UCB SA
 
17,775
2,362,649
Umicore SA
 
29,511
656,968
Warehouses de Pauw
 
25,603
681,449
Warehouses de Pauw rights (a)(e)
 
25,603
30,602
TOTAL BELGIUM
 
 
22,655,604
Brazil - 1.2%
 
 
 
3R Petroleum Oleo e Gas SA
 
33,195
212,048
Allos SA
 
58,200
234,028
Ambev SA
 
650,600
1,522,318
Atacadao SA
 
73,600
158,324
B3 SA - Brasil Bolsa Balcao
 
836,800
1,738,835
Banco Bradesco SA
 
223,759
532,616
Banco BTG Pactual SA unit
 
169,100
1,087,690
Banco do Brasil SA
 
423,100
2,234,218
BB Seguridade Participacoes SA
 
99,900
619,493
BRF SA (a)
 
131,200
426,502
Caixa Seguridade Participacoes
 
72,600
218,949
CCR SA
 
155,400
369,002
Centrais Eletricas Brasileiras SA (Electrobras)
 
150,051
1,094,044
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP)
 
51,200
796,900
Companhia Paranaense de Energia-COPEL
 
51,600
81,485
Companhia Siderurgica Nacional SA (CSN)
 
83,900
224,914
Compania de Saneamento do Parana
 
36,400
180,367
Cosan SA
 
167,400
467,454
Embraer SA (a)
 
101,100
649,325
Energisa SA unit
 
40,600
352,629
Eneva SA (a)
 
197,200
470,157
ENGIE Brasil Energia SA
 
35,250
277,650
Equatorial Energia SA
 
132,424
780,120
Hapvida Participacoes e Investimentos SA (a)(c)
 
696,800
495,165
Hypera SA (a)
 
59,200
336,553
Klabin SA unit
 
121,500
539,106
Localiza Rent a Car SA
 
126,730
1,196,621
Lojas Renner SA
 
141,440
417,570
Magazine Luiza SA (a)
 
449,893
117,832
Multiplan Empreendimentos Imobiliarios SA
 
37,900
167,071
Natura & Co. Holding SA
 
121,788
389,104
Nu Holdings Ltd. (a)
 
355,056
3,855,908
PagSeguro Digital Ltd. (a)
 
27,618
343,844
Petroleo Brasileiro SA - Petrobras (ON)
 
555,100
4,731,488
PRIO SA
 
116,200
1,074,144
Raia Drogasil SA
 
164,692
811,313
Rede D'Oregon Sao Luiz SA (c)
 
152,705
764,613
Rumo SA
 
179,500
696,899
Santos Brasil Participacoes SA
 
93,000
243,219
Sendas Distribuidora SA
 
195,800
494,722
StoneCo Ltd. Class A (a)
 
38,800
605,280
Suzano SA
 
107,453
1,209,741
Telefonica Brasil SA
 
52,400
477,721
TIM SA
 
124,100
420,868
Totvs SA
 
63,000
334,133
Transmissora Alianca de Energia Eletrica SA
 
30,500
206,873
Ultrapar Participacoes SA
 
109,500
545,117
Vale SA
 
535,143
6,522,590
Vibra Energia SA
 
175,300
792,000
Weg SA
 
216,700
1,650,519
Wheaton Precious Metals Corp.
 
66,789
3,479,539
XP, Inc. (depository receipt)
 
53,232
1,087,480
Yara International ASA
 
24,230
692,535
TOTAL BRAZIL
 
 
49,428,636
Cameroon - 0.0%
 
 
 
Golar LNG Ltd.
 
15,485
379,692
Canada - 7.0%
 
 
 
Agnico Eagle Mines Ltd. (Canada)
 
73,359
4,645,653
Air Canada (a)
 
49,594
732,031
Alamos Gold, Inc.
 
58,039
853,732
Algonquin Power & Utilities Corp.
 
103,588
632,822
Alimentation Couche-Tard, Inc. Class A (multi-vtg.)
 
107,672
5,967,656
AltaGas Ltd.
 
41,843
917,315
ARC Resources Ltd.
 
88,204
1,597,302
B2Gold Corp.
 
187,542
474,083
Bank of Montreal
 
106,863
9,545,595
Bank of Nova Scotia
 
178,832
8,204,721
Barrick Gold Corp. (Canada)
 
258,784
4,301,005
BCE, Inc.
 
44,557
1,463,926
Bombardier, Inc. Class B (sub. vtg.) (a)
 
12,919
588,588
Brookfield Asset Management Ltd. Class A
 
51,104
1,952,246
Brookfield Corp. (Canada) Class A
 
210,731
8,452,814
Brookfield Infrastructure Corp. Class A
 
17,600
536,189
CAE, Inc. (a)
 
46,606
899,179
Cameco Corp.
 
64,000
2,920,016
Canadian Imperial Bank of Commerce
 
138,866
6,482,061
Canadian National Railway Co.
 
85,067
10,324,952
Canadian Natural Resources Ltd.
 
158,087
11,979,542
Canadian Pacific Kansas City Ltd.
 
137,286
10,770,267
Canadian Tire Ltd. Class A (non-vtg.)
 
7,643
738,345
Canadian Utilities Ltd. Class A (non-vtg.)
 
17,351
387,944
CCL Industries, Inc. Class B
 
21,211
1,083,161
Celestica, Inc. (sub. vtg.) (a)
 
17,438
755,079
Cenovus Energy, Inc. (Canada)
 
195,896
4,024,217
CGI, Inc. Class A (sub. vtg.) (a)
 
30,450
3,085,367
Colliers International Group, Inc.
 
6,128
638,151
Constellation Software, Inc.
 
2,903
7,473,973
Constellation Software, Inc. warrants 3/31/40 (a)(d)
 
2,626
0
Crescent Point Energy Corp.
 
84,339
743,744
Descartes Systems Group, Inc. (Canada) (a)
 
12,528
1,162,115
Dollarama, Inc.
 
41,475
3,459,840
Element Fleet Management Corp.
 
57,429
916,511
Emera, Inc.
 
40,641
1,370,691
Empire Co. Ltd. Class A (non-vtg.)
 
21,939
511,084
Enbridge, Inc.
 
313,085
11,132,467
Fairfax Financial Holdings Ltd. (sub. vtg.)
 
3,336
3,626,938
Finning International, Inc.
 
21,141
663,262
FirstService Corp.
 
6,127
899,923
Fortis, Inc.
 
72,275
2,838,184
Franco-Nevada Corp.
 
28,334
3,410,824
George Weston Ltd.
 
8,750
1,151,518
Gibson Energy, Inc.
 
24,129
395,767
Gildan Activewear, Inc.
 
25,325
877,862
Great-West Lifeco, Inc.
 
40,272
1,190,915
Hydro One Ltd. (c)
 
46,630
1,306,107
iA Financial Corp., Inc.
 
14,751
894,286
Imperial Oil Ltd.
 
23,605
1,622,935
Intact Financial Corp.
 
26,289
4,320,933
Ivanhoe Mines Ltd. (a)
 
87,316
1,183,537
Keyera Corp.
 
34,672
889,562
Kinross Gold Corp.
 
181,914
1,173,426
Loblaw Companies Ltd.
 
21,522
2,360,049
Magna International, Inc. Class A (sub. vtg.)
 
39,398
1,883,114
Manulife Financial Corp.
 
266,151
6,207,902
MEG Energy Corp. (a)
 
40,694
925,529
Methanex Corp.
 
9,839
471,134
Metro, Inc.
 
33,610
1,719,258
National Bank of Canada
 
49,960
4,011,607
Northland Power, Inc.
 
37,674
574,969
Nutrien Ltd.
 
72,973
3,847,826
Onex Corp. (sub. vtg.)
 
9,923
704,013
Open Text Corp.
 
39,935
1,410,119
Pan American Silver Corp.
 
53,867
993,486
Parkland Corp.
 
20,219
622,880
Pembina Pipeline Corp.
 
80,926
2,847,532
Power Corp. of Canada (sub. vtg.)
 
81,006
2,158,355
Quebecor, Inc. Class B (sub. vtg.)
 
23,300
482,197
Restaurant Brands International, Inc.
 
46,101
3,497,467
Rogers Communications, Inc. Class B (non-vtg.)
 
55,127
2,065,085
Royal Bank of Canada
 
207,182
20,044,725
Saputo, Inc.
 
36,563
703,027
Shopify, Inc. Class A (a)
 
177,979
12,495,311
SNC-Lavalin Group, Inc.
 
26,204
1,006,170
Stantec, Inc.
 
16,557
1,318,282
Sun Life Financial, Inc.
 
86,204
4,401,467
Suncor Energy, Inc.
 
190,119
7,254,532
TC Energy Corp.
 
152,938
5,479,172
Teck Resources Ltd. Class B (sub. vtg.)
 
67,612
3,324,488
TELUS Corp.
 
71,643
1,150,639
TFI International, Inc. (Canada)
 
11,701
1,523,812
The Toronto-Dominion Bank
 
261,434
15,509,617
Thomson Reuters Corp.
 
22,036
3,328,330
TMX Group Ltd.
 
40,618
1,075,456
Toromont Industries Ltd.
 
12,105
1,107,929
Tourmaline Oil Corp.
 
48,029
2,347,286
Tricon Residential, Inc.
 
38,877
435,465
West Fraser Timber Co. Ltd.
 
8,399
643,294
Whitecap Resources, Inc. (b)
 
88,666
672,410
WSP Global, Inc.
 
18,337
2,782,418
TOTAL CANADA
 
 
281,556,715
Chile - 0.2%
 
 
 
Antofagasta PLC
 
50,674
1,399,365
Banco de Chile
 
6,536,403
725,094
Banco de Credito e Inversiones
 
11,466
334,420
Banco Santander Chile
 
9,243,321
418,816
Cencosud SA
 
181,272
310,620
Compania Sud Americana de Vapores SA
 
1,996,558
155,765
Empresas CMPC SA
 
157,353
310,756
Empresas COPEC SA
 
53,804
383,950
Enel Americas SA
 
2,889,985
270,922
Enel Chile SA
 
3,341,625
198,399
Falabella SA (a)
 
124,046
332,064
LATAM Airlines Group SA
 
22,273,252
301,369
Lundin Mining Corp.
 
98,119
1,120,423
TOTAL CHILE
 
 
6,261,963
China - 5.8%
 
 
 
AAC Technology Holdings, Inc.
 
107,500
342,134
Agricultural Bank of China Ltd. (H Shares)
 
4,499,000
2,006,153
Airtac International Group
 
21,650
765,174
Akeso, Inc. (a)(c)
 
73,000
446,696
Alibaba Group Holding Ltd.
 
2,188,640
20,492,378
Alibaba Health Information Technology Ltd. (a)
 
874,000
326,246
Aluminum Corp. of China Ltd. (H Shares)
 
604,000
400,581
Anhui Conch Cement Co. Ltd. (H Shares)
 
175,000
406,012
Anta Sports Products Ltd.
 
175,600
1,987,966
Autohome, Inc. ADR Class A
 
9,206
236,594
Baidu, Inc. Class A (a)
 
334,428
4,332,711
Bank of China Ltd. (H Shares)
 
12,316,000
5,523,608
Bank of Communications Co. Ltd. (H Shares)
 
3,143,000
2,263,146
BeiGene Ltd. (a)
 
114,863
1,362,574
Bilibili, Inc. Class Z (a)(b)
 
36,935
469,007
BOC Hong Kong (Holdings) Ltd.
 
528,500
1,619,902
Brilliance China Automotive Holdings Ltd.
 
392,000
325,511
BYD Co. Ltd. (H Shares)
 
137,707
3,774,905
BYD Electronic International Co. Ltd.
 
106,500
358,776
CGN Power Co. Ltd. (H Shares) (c)
 
1,603,000
537,499
China CITIC Bank Corp. Ltd. (H Shares)
 
1,314,000
768,734
China Coal Energy Co. Ltd. (H Shares)
 
292,000
294,143
China Construction Bank Corp. (H Shares)
 
14,522,000
9,395,604
China Everbright International Ltd.
 
470,000
190,579
China Feihe Ltd. (c)
 
480,000
262,496
China Galaxy Securities Co. Ltd. (H Shares)
 
510,500
276,521
China Gas Holdings Ltd.
 
431,800
404,308
China Hongqiao Group Ltd. (b)
 
330,000
455,360
China International Capital Corp. Ltd. (H Shares) (c)
 
208,000
250,816
China Life Insurance Co. Ltd. (H Shares)
 
1,097,000
1,444,665
China Longyuan Power Grid Corp. Ltd. (H Shares)
 
502,000
351,668
China Mengniu Dairy Co. Ltd.
 
449,000
930,094
China Merchants Bank Co. Ltd. (H Shares)
 
486,500
2,106,962
China Merchants Holdings International Co. Ltd.
 
177,272
234,108
China Minsheng Banking Corp. Ltd. (H Shares)
 
922,500
337,526
China National Building Materials Co. Ltd. (H Shares)
 
642,000
248,414
China Oilfield Services Ltd. (H Shares)
 
262,000
280,158
China Overseas Land and Investment Ltd.
 
552,500
1,015,977
China Pacific Insurance (Group) Co. Ltd. (H Shares)
 
382,400
837,868
China Petroleum & Chemical Corp. (H Shares)
 
3,592,000
2,144,072
China Power International Development Ltd.
 
673,000
271,580
China Railway Group Ltd. (H Shares)
 
639,000
315,320
China Resource Gas Group Ltd.
 
132,600
416,758
China Resources Beer Holdings Co. Ltd.
 
228,000
1,039,238
China Resources Land Ltd.
 
424,000
1,524,635
China Resources Mixc Lifestyle Services Ltd. (c)
 
82,355
289,870
China Resources Power Holdings Co. Ltd.
 
258,000
641,609
China Shenhua Energy Co. Ltd. (H Shares)
 
497,500
2,064,859
China State Construction International Holdings Ltd.
 
260,000
274,327
China Tower Corp. Ltd. (H Shares) (c)
 
6,818,000
798,111
ChinaSoft International Ltd.
 
360,000
216,477
Chow Tai Fook Jewellery Group Ltd.
 
333,200
453,368
CITIC Pacific Ltd.
 
953,000
901,922
CITIC Securities Co. Ltd. (H Shares)
 
215,375
342,902
Cmoc Group Ltd. (H Shares)
 
531,000
498,190
COSCO SHIPPING Holdings Co. Ltd. (H Shares)
 
489,000
632,685
Country Garden Holdings Co. Ltd. (a)
 
1,610,120
102,403
Country Garden Services Holdings Co. Ltd.
 
299,000
199,475
CRRC Corp. Ltd. (H Shares)
 
648,000
357,691
CSPC Pharmaceutical Group Ltd.
 
1,228,160
1,008,482
Daqo New Energy Corp. ADR (a)
 
8,643
165,946
ENN Energy Holdings Ltd.
 
111,700
951,728
ESR Group Ltd. (c)
 
336,600
368,870
Far East Horizon Ltd.
 
259,000
192,258
Full Truck Alliance Co. Ltd. ADR
 
100,378
864,255
Fuyao Glass Industries Group Co. Ltd. (H Shares) (c)
 
92,400
553,205
Ganfeng Lithium Group Co. Ltd. (H Shares) (c)
 
55,520
162,811
GCL Technology Holdings Ltd.
 
3,120,000
462,112
Geely Automobile Holdings Ltd.
 
771,000
927,944
Genscript Biotech Corp. (a)
 
168,000
247,745
Giant Biogene Holding Co. Ltd. (c)
 
61,000
371,657
Great Wall Motor Co. Ltd. (H Shares)
 
353,000
533,433
H World Group Ltd.
 
204,940
762,515
Haidilao International Holding Ltd. (c)
 
251,000
566,308
Haier Smart Home Co. Ltd.
 
344,400
1,275,666
Hansoh Pharmaceutical Group Co. Ltd. (c)
 
150,000
331,454
Hengan International Group Co. Ltd.
 
98,000
329,003
Huaneng Power International, Inc. (H Shares) (a)
 
594,000
378,082
Huatai Securities Co. Ltd. (H Shares) (c)
 
199,400
235,814
Hygeia Healthcare Holdings Co. (c)
 
47,600
196,466
Industrial & Commercial Bank of China Ltd. (H Shares)
 
10,478,000
5,618,603
Innovent Biologics, Inc. (a)(c)
 
198,000
958,511
iQIYI, Inc. ADR (a)
 
73,094
354,506
JD Health International, Inc. (a)(c)
 
154,350
526,461
JD Logistics, Inc. (a)(c)
 
282,700
305,973
JD.com, Inc. Class A
 
362,426
5,221,969
Kanzhun Ltd. ADR
 
49,178
973,233
KE Holdings, Inc. ADR
 
97,359
1,472,068
Kingboard Chemical Holdings Ltd.
 
92,000
202,195
Kingdee International Software Group Co. Ltd. (a)
 
421,000
444,166
Kingsoft Corp. Ltd.
 
141,400
459,406
Kuaishou Technology Class B (a)(c)
 
371,700
2,605,881
Kunlun Energy Co. Ltd.
 
572,000
554,485
Lenovo Group Ltd.
 
1,008,000
1,133,758
Li Auto, Inc. Class A (a)
 
171,832
2,251,326
Li Ning Co. Ltd.
 
340,500
891,384
Longfor Properties Co. Ltd. (c)
 
249,376
369,362
Meituan Class B (a)(c)
 
640,090
8,740,129
MINISO Group Holding Ltd. ADR
 
17,635
396,258
NetEase, Inc.
 
256,470
4,807,438
New China Life Insurance Co. Ltd. (H Shares)
 
121,000
232,049
New Oriental Education & Technology Group, Inc. (a)
 
220,440
1,751,609
NIO, Inc. sponsored ADR (a)(b)
 
206,261
973,552
Nongfu Spring Co. Ltd. (H Shares) (c)
 
259,400
1,523,954
PDD Holdings, Inc. ADR (a)
 
101,795
12,742,698
People's Insurance Co. of China Group Ltd. (H Shares)
 
1,191,000
390,916
PetroChina Co. Ltd. (H Shares)
 
3,108,000
2,895,853
PICC Property & Casualty Co. Ltd. (H Shares)
 
1,018,000
1,264,746
Ping An Insurance Group Co. of China Ltd. (H Shares)
 
923,000
4,183,113
Pop Mart International Group Ltd. (c)
 
97,800
418,528
Postal Savings Bank of China Co. Ltd. (H Shares) (c)
 
1,109,000
574,631
Prosus NV
 
223,400
7,474,953
Qifu Technology, Inc. ADR
 
19,603
358,539
Shandong Weigao Medical Polymer Co. Ltd. (H Shares)
 
339,200
230,028
Shenzhou International Group Holdings Ltd.
 
118,000
1,159,847
Silergy Corp.
 
48,000
636,361
Sinopharm Group Co. Ltd. (H Shares)
 
202,000
510,123
SITC International Holdings Co. Ltd.
 
197,000
427,213
Smoore International Holdings Ltd. (c)
 
254,000
221,212
Sunny Optical Technology Group Co. Ltd.
 
103,400
500,220
TAL Education Group ADR (a)
 
69,243
833,686
Tencent Holdings Ltd.
 
903,200
39,635,307
Tencent Music Entertainment Group ADR (a)
 
92,519
1,161,113
Tingyi (Cayman Islands) Holding Corp.
 
274,000
302,413
Tongcheng Travel Holdings Ltd.
 
161,600
425,312
Topsports International Holdings Ltd. (c)
 
407,000
282,651
Trip.com Group Ltd. (a)
 
81,896
3,988,938
Tsingtao Brewery Co. Ltd. (H Shares)
 
90,000
648,576
Vipshop Holdings Ltd. ADR
 
39,856
599,434
Want Want China Holdings Ltd.
 
756,000
431,186
Weichai Power Co. Ltd. (H Shares)
 
276,000
563,968
Wharf Holdings Ltd.
 
140,000
450,430
Wilmar International Ltd.
 
448,100
1,053,292
WuXi AppTec Co. Ltd. (H Shares) (c)
 
53,384
240,286
Wuxi Biologics (Cayman), Inc. (a)(c)
 
525,000
909,477
Xiaomi Corp. Class B (a)(c)
 
2,265,600
4,938,844
Xinyi Solar Holdings Ltd.
 
683,097
470,016
XPeng, Inc. Class A (a)(b)
 
181,114
734,265
Yadea Group Holdings Ltd. (c)
 
180,000
346,261
Yangzijiang Shipbuilding Holdings Ltd.
 
389,100
499,454
Yankuang Energy Group Co. Ltd. (H Shares)
 
317,000
687,691
Yum China Holdings, Inc.
 
60,067
2,193,046
Zhaojin Mining Industry Co. Ltd. (H Shares)
 
215,000
346,243
Zhuzhou CRRC Times Electric Co. Ltd. (H Shares)
 
79,300
284,212
Zijin Mining Group Co. Ltd. (H Shares)
 
846,000
1,845,525
ZTE Corp. (H Shares)
 
109,000
234,933
ZTO Express, Inc. sponsored ADR
 
63,342
1,329,549
TOTAL CHINA
 
 
234,628,185
Colombia - 0.0%
 
 
 
Bancolombia SA
 
39,545
340,714
Interconexion Electrica SA ESP
 
62,818
289,831
TOTAL COLOMBIA
 
 
630,545
Czech Republic - 0.0%
 
 
 
CEZ A/S
 
25,507
941,529
Komercni Banka A/S
 
11,384
419,971
MONETA Money Bank A/S (c)
 
53,587
216,220
TOTAL CZECH REPUBLIC
 
 
1,577,720
Denmark - 2.2%
 
 
 
A.P. Moller - Maersk A/S:
 
 
 
 Series A
 
92
131,111
 Series B
 
604
880,648
Ascendis Pharma A/S sponsored ADR (a)
 
6,883
952,883
Carlsberg A/S Series B
 
13,263
1,784,044
Coloplast A/S Series B
 
18,277
2,203,570
Danske Bank A/S
 
100,346
2,900,298
Demant A/S (a)
 
14,115
679,404
DSV A/S
 
26,528
3,787,383
Genmab A/S (a)
 
9,745
2,705,506
Novo Nordisk A/S Series B
 
475,726
61,008,201
Novonesis (NOVOZYMES) B Series B
 
51,726
2,876,093
ORSTED A/S (a)(c)
 
27,818
1,535,206
Pandora A/S
 
12,471
1,908,417
Svitzer A/S
 
1,392
46,776
Tryg A/S
 
51,344
1,017,491
Vestas Wind Systems A/S (a)
 
148,896
4,013,794
TOTAL DENMARK
 
 
88,430,825
Egypt - 0.0%
 
 
 
Abou Kir Fertilizers & Chemical Industries
 
59,323
77,114
Commercial International Bank SAE
 
381,823
573,732
Eastern Co. SAE
 
138,445
63,653
EFG Holding SAE
 
159,488
49,330
Elsewedy Electric Co.
 
72,330
46,935
Misr Fertilizers Production Co. SAE
 
51,439
45,096
Talaat Moustafa Group Holding
 
157,619
168,061
TOTAL EGYPT
 
 
1,023,921
Finland - 0.7%
 
 
 
Elisa Corp. (A Shares)
 
22,127
999,342
Fortum Corp.
 
64,357
850,281
Huhtamaki Oyj
 
14,249
546,827
Kesko Oyj
 
39,893
682,458
Kone OYJ (B Shares)
 
59,501
2,908,276
Metso Corp.
 
103,433
1,178,346
Neste OYJ
 
63,529
1,446,813
Nokia Corp.
 
778,122
2,828,747
Nordea Bank Abp
 
520,946
6,079,058
Orion Oyj (B Shares)
 
15,706
599,892
Sampo Oyj (A Shares)
 
68,737
2,781,664
Stora Enso Oyj (R Shares)
 
90,451
1,211,443
UPM-Kymmene Corp.
 
78,675
2,764,028
Valmet Corp. (b)
 
23,441
586,881
Wartsila Corp.
 
71,197
1,319,038
TOTAL FINLAND
 
 
26,783,094
France - 5.9%
 
 
 
Accor SA
 
26,125
1,151,748
Adevinta ASA Class B (a)
 
45,877
468,331
Air Liquide SA
 
77,161
15,091,042
Airbus Group NV
 
90,843
14,948,921
Arkema SA
 
9,366
970,053
AXA SA
 
257,486
8,914,157
BNP Paribas SA
 
148,789
10,707,132
Bouygues SA
 
28,541
1,054,184
Bureau Veritas SA
 
42,037
1,230,113
Capgemini SA
 
22,889
4,810,835
Carrefour SA
 
78,289
1,317,073
Compagnie de St.-Gobain
 
74,639
5,902,647
Compagnie Generale des Etablissements Michelin SCA Series B
 
105,220
4,042,410
Credit Agricole SA
 
165,475
2,560,433
Danone SA
 
92,851
5,811,295
Dassault Systemes SA
 
98,785
3,877,501
Edenred SA
 
36,858
1,748,828
Eiffage SA
 
11,133
1,191,678
Engie SA
 
258,834
4,493,518
EssilorLuxottica SA
 
42,076
9,016,624
Getlink SE
 
47,632
813,326
Hermes International SCA
 
4,975
11,951,279
Kering SA
 
10,192
3,589,378
L'Oreal SA
 
33,881
15,896,778
Legrand SA
 
38,988
4,006,664
LVMH Moet Hennessy Louis Vuitton SE
 
38,412
31,553,013
Orange SA
 
270,696
3,012,923
Pernod Ricard SA
 
29,420
4,458,377
Publicis Groupe SA
 
34,378
3,793,501
Renault SA
 
27,864
1,389,882
Safran SA
 
50,997
11,057,783
Sartorius Stedim Biotech
 
4,133
895,380
Societe Generale Series A
 
101,971
2,747,614
Sodexo SA
 
11,919
1,039,856
Teleperformance
 
9,417
859,059
Thales SA
 
13,969
2,354,674
TotalEnergies SE
 
330,460
23,990,974
Unibail-Rodamco-Westfield NV
 
14,950
1,252,120
Veolia Environnement SA
 
89,915
2,795,249
VINCI SA
 
74,617
8,743,326
Vivendi SA
 
92,182
941,071
TOTAL FRANCE
 
 
236,450,750
Germany - 4.8%
 
 
 
adidas AG
 
24,399
5,895,142
Allianz SE
 
57,682
16,369,280
BASF AG
 
131,541
6,900,406
Bayer AG
 
144,865
4,228,308
Bayerische Motoren Werke AG (BMW)
 
42,705
4,669,136
Beiersdorf AG
 
14,461
2,169,077
BioNTech SE ADR (a)
 
13,209
1,173,223
Brenntag SE
 
21,826
1,743,692
Carl Zeiss Meditec AG
 
5,314
562,006
Commerzbank AG
 
153,654
2,289,155
Continental AG
 
15,918
1,033,531
Covestro AG (a)(c)
 
27,905
1,399,075
Daimler Truck Holding AG
 
76,393
3,449,391
Deutsche Bank AG
 
300,576
4,814,828
Deutsche Borse AG
 
27,977
5,393,742
Deutsche Lufthansa AG
 
91,187
653,371
Deutsche Telekom AG
 
513,795
11,768,765
DHL Group
 
138,775
5,810,500
E.ON SE
 
331,235
4,383,326
Fresenius Medical Care AG & Co. KGaA
 
29,346
1,235,546
Fresenius SE & Co. KGaA
 
60,724
1,812,586
GEA Group AG
 
22,238
899,458
Hannover Reuck SE
 
8,883
2,203,138
HeidelbergCement AG
 
19,470
1,966,466
Henkel AG & Co. KGaA
 
14,470
1,040,516
Infineon Technologies AG
 
192,400
6,676,862
Knorr-Bremse AG
 
9,944
737,900
LEG Immobilien AG
 
10,801
921,224
Mercedes-Benz Group AG (Germany)
 
118,186
8,939,692
Merck KGaA
 
19,045
3,027,383
MTU Aero Engines AG
 
7,965
1,926,156
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
 
20,103
8,843,307
Nemetschek SE
 
8,321
741,938
Puma AG
 
14,930
689,333
Rheinmetall AG
 
6,422
3,544,660
RWE AG
 
99,840
3,477,978
SAP SE
 
150,185
27,118,462
Scout24 AG (c)
 
11,271
831,163
Siemens AG
 
110,788
20,754,312
Siemens Energy AG (a)
 
75,179
1,548,459
Siemens Healthineers AG (c)
 
41,503
2,301,650
Symrise AG
 
19,587
2,104,957
Vonovia SE
 
120,103
3,470,499
Zalando SE (a)(c)
 
31,898
834,619
TOTAL GERMANY
 
 
192,354,218
Greece - 0.1%
 
 
 
Alpha Bank SA (a)
 
301,161
511,828
Eurobank Ergasias Services and Holdings SA (a)
 
367,449
788,205
GEK Terna Holding Real Estate Construction SA
 
7,838
140,360
Hellenic Telecommunications Organization SA
 
27,226
414,914
Jumbo SA
 
16,053
499,905
Motor Oil (HELLAS) Corinth Refineries SA
 
9,818
284,576
Mytilineos SA
 
15,470
630,666
National Bank of Greece SA (a)
 
81,358
656,399
OPAP SA
 
26,921
448,477
Piraeus Financial Holdings SA (a)
 
147,042
589,043
Public Power Corp. of Greece (a)
 
31,630
379,412
Star Bulk Carriers Corp.
 
11,468
278,902
Terna Energy SA
 
7,438
144,786
TOTAL GREECE
 
 
5,767,473
Guatemala - 0.0%
 
 
 
Millicom International Cellular SA (depository receipt) (a)
 
18,098
372,786
Hong Kong - 1.1%
 
 
 
AIA Group Ltd.
 
1,668,400
12,219,959
ASMPT Ltd.
 
44,800
556,760
CK Asset Holdings Ltd.
 
276,829
1,180,835
CK Infrastructure Holdings Ltd.
 
87,500
494,300
CLP Holdings Ltd.
 
246,000
1,935,051
Futu Holdings Ltd. ADR (a)
 
8,561
550,558
Hang Lung Properties Ltd.
 
245,000
270,410
Hang Seng Bank Ltd.
 
106,700
1,407,008
Henderson Land Development Co. Ltd.
 
193,500
583,368
HKT Trust/HKT Ltd. unit
 
541,000
597,252
Hong Kong & China Gas Co. Ltd.
 
1,589,393
1,208,499
Hong Kong Exchanges and Clearing Ltd.
 
175,753
5,584,451
Hongkong Land Holdings Ltd.
 
157,339
502,726
Jardine Matheson Holdings Ltd.
 
30,261
1,158,063
Link (REIT)
 
377,634
1,618,084
MTR Corp. Ltd.
 
227,998
749,301
New World Development Co. Ltd.
 
191,000
202,833
Orient Overseas International Ltd.
 
19,500
284,408
Power Assets Holdings Ltd.
 
204,500
1,173,044
Prudential PLC
 
405,712
3,528,619
Sino Biopharmaceutical Ltd.
 
1,493,500
510,327
Sino Land Ltd.
 
514,819
550,444
Sun Hung Kai Properties Ltd.
 
223,000
2,057,166
Swire Pacific Ltd. (A Shares)
 
63,000
533,529
Swire Properties Ltd.
 
147,800
305,675
Techtronic Industries Co. Ltd.
 
194,500
2,687,854
WH Group Ltd. (c)
 
1,178,500
856,581
Wharf Real Estate Investment Co. Ltd.
 
228,000
707,373
Xinyi Glass Holdings Ltd.
 
357,931
382,487
TOTAL HONG KONG
 
 
44,396,965
Hungary - 0.1%
 
 
 
MOL Hungarian Oil and Gas PLC Series A (For. Reg.)
 
65,717
539,314
OTP Bank PLC
 
33,376
1,656,162
Richter Gedeon PLC
 
18,758
477,673
TOTAL HUNGARY
 
 
2,673,149
India - 3.9%
 
 
 
Adani Enterprises Ltd.
 
53,680
1,960,921
Adani Green Energy Ltd. (a)
 
55,941
1,201,755
Adani Ports & Special Economic Zone Ltd.
 
105,929
1,677,654
Adani Power Ltd. (a)
 
113,230
828,022
Asian Paints Ltd.
 
66,639
2,291,592
Axis Bank Ltd.
 
336,865
4,700,657
Bajaj Auto Ltd.
 
9,953
1,062,258
Bajaj Finance Ltd.
 
41,053
3,404,468
Bharat Electronics Ltd.
 
525,388
1,468,763
Bharat Petroleum Corp. Ltd.
 
140,191
1,019,821
Bharti Airtel Ltd.
 
373,470
5,909,859
Coal India Ltd.
 
334,352
1,817,337
DLF Ltd.
 
90,357
962,445
GAIL India Ltd.
 
395,192
986,956
HCL Technologies Ltd.
 
156,180
2,547,351
HDFC Bank Ltd.
 
828,390
15,039,773
Hindalco Industries Ltd.
 
215,186
1,654,476
Hindustan Aeronautics Ltd.
 
27,435
1,294,333
Hindustan Unilever Ltd.
 
131,956
3,523,163
ICICI Bank Ltd.
 
765,485
10,544,579
Indian Oil Corp. Ltd.
 
560,041
1,130,616
IndusInd Bank Ltd.
 
84,964
1,539,997
Infosys Ltd.
 
526,248
8,882,918
InterGlobe Aviation Ltd. (a)(c)
 
21,518
1,025,772
ITC Ltd.
 
442,049
2,304,292
Jio Financial Services Ltd.
 
478,000
2,151,893
Kotak Mahindra Bank Ltd.
 
161,468
3,137,301
Larsen & Toubro Ltd.
 
99,336
4,268,835
Ltimindtree Ltd. (c)
 
13,417
753,364
Mahindra & Mahindra Ltd.
 
141,292
3,643,434
Maruti Suzuki India Ltd.
 
20,299
3,113,373
NTPC Ltd.
 
700,901
3,045,204
Oil & Natural Gas Corp. Ltd.
 
575,100
1,940,845
Power Finance Corp. Ltd.
 
212,952
1,122,204
Power Grid Corp. of India Ltd.
 
669,466
2,413,928
REC Ltd.
 
181,512
1,099,232
Reliance Industries Ltd.
 
508,418
17,842,563
Shriram Finance Ltd.
 
40,733
1,242,415
State Bank of India
 
263,215
2,599,286
Sun Pharmaceutical Industries Ltd.
 
158,428
2,845,376
Suzlon Energy Ltd. (a)
 
1,478,354
732,370
Tata Consultancy Services Ltd.
 
151,030
6,891,066
Tata Motors Ltd.
 
264,714
3,191,294
Tata Power Co. Ltd./The
 
249,206
1,337,048
Tata Steel Ltd.
 
1,202,837
2,370,338
Titan Co. Ltd.
 
61,626
2,643,454
Trent Ltd.
 
26,644
1,406,001
Ultratech Cement Ltd.
 
16,887
2,013,445
Varun Beverages Ltd.
 
68,681
1,214,608
Vedanta Ltd.
 
176,645
842,827
Wipro Ltd.
 
207,284
1,141,214
Yes Bank Ltd. (a)
 
2,583,905
807,926
Zomato Ltd. (a)
 
806,588
1,861,017
TOTAL INDIA
 
 
156,451,639
Indonesia - 0.5%
 
 
 
PT Adaro Energy Indonesia Tbk
 
2,169,700
360,599
PT Aneka Tambang Tbk
 
1,168,300
117,438
PT Astra International Tbk
 
3,001,300
947,077
PT Bank Central Asia Tbk
 
8,169,600
4,912,255
PT Bank Mandiri (Persero) Tbk
 
6,597,800
2,788,739
PT Bank Negara Indonesia (Persero) Tbk
 
2,202,300
708,562
PT Bank Rakyat Indonesia (Persero) Tbk
 
10,495,553
3,177,041
PT Barito Pacific Tbk
 
4,186,680
261,637
PT Bumi Resources Minerals Tbk (a)
 
12,825,900
120,343
PT Bumi Resources Tbk (a)
 
23,716,600
144,265
PT Charoen Pokphand Indonesia Tbk
 
1,120,300
340,847
PT GoTo Gojek Tokopedia Tbk (a)
 
147,977,396
569,162
PT Indah Kiat Pulp & Paper Tbk
 
392,700
226,021
PT Indofood CBP Sukses Makmur Tbk
 
323,900
216,501
PT Indofood Sukses Makmur Tbk
 
667,600
256,361
PT Indosat Tbk
 
297,900
201,318
PT Kalbe Farma Tbk
 
2,765,100
245,451
PT Merdeka Copper Gold Tbk (a)
 
1,578,710
254,261
PT Mitra Adiperkasa Tbk
 
1,166,100
112,819
PT Mitra Keluarga Karyasehat Tbk
 
753,300
133,278
PT Perusahaan Gas Negara Tbk Series B
 
1,452,900
131,201
PT Sarana Menara Nusantara Tbk
 
3,119,500
154,126
PT Semen Indonesia (Persero) Tbk
 
454,560
130,389
PT Sumber Alfaria Trijaya Tbk
 
2,741,700
493,092
PT Telkom Indonesia Persero Tbk
 
7,068,300
1,370,250
PT United Tractors Tbk
 
221,000
336,825
TOTAL INDONESIA
 
 
18,709,858
Ireland - 0.3%
 
 
 
AerCap Holdings NV (a)
 
29,598
2,500,735
AIB Group PLC
 
226,941
1,178,504
Bank of Ireland Group PLC
 
146,571
1,571,245
Kerry Group PLC Class A
 
22,850
1,970,350
Kingspan Group PLC (Ireland)
 
23,087
2,065,934
Smurfit Kappa Group PLC
 
38,477
1,673,303
TOTAL IRELAND
 
 
10,960,071
Israel - 0.5%
 
 
 
Airport City Ltd. (a)
 
8,600
132,942
Alony Hetz Properties & Investments Ltd.
 
21,592
140,344
Amot Investments Ltd.
 
30,267
127,486
Azrieli Group
 
5,632
364,413
Bank Hapoalim BM (Reg.)
 
186,959
1,691,882
Bank Leumi le-Israel BM
 
225,751
1,767,804
Bezeq The Israel Telecommunication Corp. Ltd.
 
306,687
380,977
Big Shopping Centers Ltd. (a)
 
1,755
181,333
Camtek Ltd.
 
4,021
333,682
Check Point Software Technologies Ltd. (a)
 
13,668
2,042,273
Clal Insurance Enterprises Holdings Ltd. (a)
 
9,004
150,811
Delek Group Ltd.
 
1,433
169,663
Elbit Systems Ltd. (Israel)
 
3,670
749,370
Electra Israel Ltd.
 
265
101,279
Enlight Renewable Energy Ltd. (a)
 
17,247
278,181
First International Bank of Israel
 
7,412
295,359
Global-e Online Ltd. (a)(b)
 
14,162
474,852
Harel Insurance Investments and Financial Services Ltd.
 
16,348
149,994
Icl Group Ltd.
 
105,847
498,450
Isracard Ltd.
 
30,484
111,943
Israel Corp. Ltd. (Class A)
 
637
152,472
Israel Discount Bank Ltd. (Class A)
 
185,141
953,996
JFrog Ltd. (a)
 
11,758
468,909
Kornit Digital Ltd. (a)
 
6,826
105,189
Melisron Ltd.
 
3,549
243,957
Mivne Real Estate KD Ltd.
 
83,164
200,595
Mizrahi Tefahot Bank Ltd.
 
22,498
821,957
NICE Ltd. (a)
 
9,355
2,093,696
Nova Ltd. (a)
 
4,216
729,362
Perion Network Ltd. (a)(b)
 
6,432
80,979
Plus500 Ltd.
 
9,072
245,083
Reit 1 Ltd.
 
25,237
101,578
Sapiens International Corp. NV
 
4,568
141,741
Shufersal Ltd.
 
39,716
262,392
Strauss Group Ltd.
 
6,955
127,886
Teva Pharmaceutical Industries Ltd. sponsored ADR (a)
 
165,570
2,326,259
The Phoenix Holdings Ltd.
 
23,889
229,272
Tower Semiconductor Ltd. (a)
 
15,789
515,659
Wix.com Ltd. (a)
 
8,520
1,012,772
ZIM Integrated Shipping Services Ltd. (b)
 
13,018
172,489
TOTAL ISRAEL
 
 
21,129,281
Italy - 1.7%
 
 
 
A2A SpA
 
223,567
442,705
Amplifon SpA
 
14,142
474,352
Assicurazioni Generali SpA
 
162,603
3,973,835
Azimut Holding SpA
 
15,762
416,661
Banca Popolare di Sondrio SCARL
 
65,812
552,044
Banco BPM SpA
 
223,461
1,474,745
BPER Banca
 
154,827
808,147
Brunello Cucinelli SpA
 
4,985
511,251
Buzzi SpA
 
13,540
489,273
Davide Campari Milano NV
 
81,139
815,692
Enel SpA
 
1,138,593
7,483,333
Eni SpA
 
353,499
5,677,792
Ferrari NV (Italy)
 
18,567
7,672,253
FinecoBank SpA
 
90,196
1,389,954
Hera SpA
 
116,964
423,153
Infrastrutture Wireless Italiane SpA (c)
 
52,667
566,559
Interpump Group SpA
 
11,953
524,026
Intesa Sanpaolo SpA
 
2,369,304
8,868,314
Italgas SpA
 
72,280
401,114
Leonardo SpA
 
59,514
1,373,794
Mediobanca SpA
 
93,674
1,334,585
Moncler SpA
 
30,377
2,078,664
Nexi SpA (a)(c)
 
125,100
731,350
Poste Italiane SpA (c)
 
67,347
856,723
Prada SpA
 
75,200
613,280
Prysmian SpA
 
40,826
2,229,887
Recordati SpA
 
14,737
787,153
Reply SpA
 
3,399
446,172
Ryanair Holdings PLC sponsored ADR
 
12,400
1,688,880
Snam SpA
 
301,264
1,378,365
Telecom Italia SpA (a)(b)
 
1,271,911
302,561
Telecom Italia SpA (Risparmio Shares) (a)
 
225,793
55,736
Terna - Rete Elettrica Nazionale
 
207,864
1,669,067
UniCredit SpA
 
252,235
9,258,125
Unipol Gruppo SpA
 
51,854
465,951
TOTAL ITALY
 
 
68,235,496
Japan - 16.8%
 
 
 
Activia Properties, Inc.
 
101
250,677
Adeka Corp.
 
15,100
313,789
Advance Residence Investment Corp.
 
204
441,051
Advantest Corp.
 
112,800
3,530,716
AEON Co. Ltd.
 
128,600
2,688,807
AGC, Inc.
 
32,000
1,183,176
Aica Kogyo Co. Ltd.
 
8,800
203,977
Air Water, Inc.
 
33,400
501,508
Aisin Seiki Co. Ltd.
 
26,900
1,023,175
Ajinomoto Co., Inc.
 
76,900
2,859,255
Alfresa Holdings Corp.
 
30,800
456,440
Alps Alpine Co. Ltd.
 
28,500
257,263
Amada Co. Ltd.
 
51,800
565,763
Ana Holdings, Inc.
 
25,100
476,700
Aozora Bank Ltd. (b)
 
16,800
261,021
Asahi Group Holdings
 
74,900
2,562,253
ASAHI INTECC Co. Ltd.
 
34,600
506,983
Asahi Kasei Corp.
 
205,400
1,432,077
Asics Corp.
 
27,800
1,191,573
Astellas Pharma, Inc.
 
267,200
2,564,559
Azbil Corp.
 
18,500
516,705
Bandai Namco Holdings, Inc.
 
98,400
1,838,622
BayCurrent Consulting, Inc.
 
19,300
410,842
Biprogy, Inc.
 
11,300
328,733
Bridgestone Corp.
 
86,200
3,803,748
Brother Industries Ltd.
 
37,500
663,336
Calbee, Inc.
 
15,500
338,544
Canon, Inc.
 
149,100
4,035,435
Capcom Co. Ltd.
 
49,200
809,952
Casio Computer Co. Ltd.
 
32,000
266,601
Central Japan Railway Co.
 
151,800
3,471,360
Chiba Bank Ltd.
 
106,800
902,147
Chubu Electric Power Co., Inc.
 
112,000
1,437,628
Chugai Pharmaceutical Co. Ltd.
 
94,000
2,989,564
Chugoku Electric Power Co., Inc.
 
49,500
339,827
Coca-Cola Bottlers Japan, Inc.
 
23,100
323,412
COMSYS Holdings Corp.
 
17,900
418,995
Concordia Financial Group Ltd.
 
173,900
936,997
Cosmo Energy Holdings Co. Ltd.
 
10,600
506,738
Cosmos Pharmaceutical Corp.
 
3,600
331,179
Credit Saison Co. Ltd.
 
23,500
433,790
CyberAgent, Inc.
 
60,100
374,457
Dai Nippon Printing Co. Ltd.
 
38,200
1,112,618
Dai-ichi Mutual Life Insurance Co.
 
146,000
3,381,512
Daicel Chemical Industries Ltd.
 
38,700
359,449
Daifuku Co. Ltd.
 
55,800
1,142,996
Daiichi Sankyo Kabushiki Kaisha
 
286,900
9,656,397
Daikin Industries Ltd.
 
43,200
5,896,425
Daito Trust Construction Co. Ltd.
 
9,700
1,039,786
Daiwa House Industry Co. Ltd.
 
97,300
2,737,916
Daiwa House REIT Investment Corp.
 
326
547,607
Daiwa Securities Group, Inc.
 
214,700
1,577,843
DENSO Corp.
 
320,400
5,460,617
Dentsu Group, Inc.
 
33,900
917,103
Dexerials Corp.
 
8,500
318,381
Dic Corp.
 
11,900
222,406
Disco Corp.
 
13,100
3,731,480
Dmg Mori Co. Ltd.
 
18,400
491,879
Dowa Holdings Co. Ltd.
 
8,500
318,300
East Japan Railway Co.
 
167,200
3,064,604
Ebara Corp.
 
12,000
989,209
Eisai Co. Ltd.
 
43,700
1,794,718
Electric Power Development Co. Ltd.
 
24,800
421,278
ENEOS Holdings, Inc.
 
447,200
2,066,160
Exeo Group, Inc.
 
32,300
352,046
Ezaki Glico Co. Ltd.
 
8,800
227,181
FANUC Corp.
 
139,100
4,120,044
Fast Retailing Co. Ltd.
 
29,500
7,713,337
Food & Life Companies Ltd.
 
16,500
311,864
Frontier Real Estate Investment Corp.
 
71
206,404
Fuji Electric Co. Ltd.
 
21,900
1,362,266
FUJIFILM Holdings Corp.
 
182,900
3,890,738
Fujikura Ltd.
 
40,400
694,247
Fujitsu Ltd.
 
256,400
3,960,907
Fukuoka Financial Group, Inc.
 
28,000
743,751
GLP J-REIT
 
708
575,825
GMO Payment Gateway, Inc.
 
6,700
306,466
GOLDWIN, Inc.
 
5,600
339,676
Hakuhodo DY Holdings, Inc.
 
42,800
398,095
Hamamatsu Photonics K.K.
 
21,900
802,453
Hankyu Hanshin Holdings, Inc.
 
37,600
985,806
Harmonic Drive Systems, Inc.
 
8,100
202,296
Haseko Corp.
 
31,500
380,560
Hikari Tsushin, Inc.
 
3,400
552,574
Hirose Electric Co. Ltd.
 
4,600
488,271
Hisamitsu Pharmaceutical Co., Inc.
 
11,800
286,287
Hitachi Construction Machinery Co. Ltd.
 
15,500
442,715
Hitachi Ltd.
 
136,600
12,602,811
Honda Motor Co. Ltd.
 
736,600
8,380,727
Horiba Ltd.
 
6,300
611,220
Hoshizaki Corp.
 
17,000
585,798
House Foods Group, Inc.
 
10,500
206,880
Hoya Corp.
 
51,700
5,994,089
Hulic Co. Ltd.
 
90,000
829,319
Ibiden Co. Ltd.
 
20,700
786,880
Idemitsu Kosan Co. Ltd.
 
164,085
1,111,696
IHI Corp.
 
22,300
533,955
Iida Group Holdings Co. Ltd.
 
24,500
312,765
Industrial & Infrastructure Fund Investment Corp.
 
365
301,811
INPEX Corp.
 
137,400
2,058,225
Internet Initiative Japan, Inc.
 
19,600
331,612
Invincible Investment Corp.
 
1,015
454,761
Isetan Mitsukoshi Holdings Ltd.
 
57,900
813,215
Isuzu Motors Ltd.
 
91,500
1,159,566
ITO EN Ltd.
 
8,800
213,534
Itochu Corp.
 
214,900
9,695,165
Iwatani Corp.
 
8,100
459,938
J. Front Retailing Co. Ltd.
 
41,100
357,934
Japan Airlines Co. Ltd.
 
22,700
402,216
Japan Airport Terminal Co. Ltd.
 
13,400
473,545
Japan Exchange Group, Inc.
 
77,000
1,803,380
Japan Hotel REIT Investment Corp.
 
676
355,237
Japan Logistics Fund, Inc.
 
128
228,227
Japan Post Bank Co. Ltd.
 
207,900
2,110,250
Japan Post Holdings Co. Ltd.
 
296,000
2,842,577
Japan Post Insurance Co. Ltd.
 
27,500
516,287
Japan Prime Realty Investment Corp.
 
151
326,743
Japan Real Estate Investment Corp.
 
209
708,749
Japan Retail Fund Investment Corp.
 
1,054
636,330
Japan Steel Works Ltd.
 
10,700
259,730
Japan Tobacco, Inc.
 
162,000
4,358,062
JEOL Ltd.
 
7,400
293,183
JFE Holdings, Inc.
 
89,400
1,334,360
JGC Holdings Corp.
 
36,700
353,758
JSR Corp.
 
30,500
836,689
JTEKT Corp.
 
35,000
270,928
Kadokawa Corp.
 
16,600
303,418
Kagome Co. Ltd.
 
12,200
311,867
Kajima Corp.
 
70,200
1,344,827
Kakaku.com, Inc.
 
17,300
198,994
Kamigumi Co. Ltd.
 
14,300
308,817
Kaneka Corp.
 
9,700
251,250
Kansai Electric Power Co., Inc.
 
121,900
1,825,992
Kansai Paint Co. Ltd.
 
34,400
447,825
Kao Corp.
 
68,800
2,838,153
Kawasaki Heavy Industries Ltd.
 
24,900
770,856
Kawasaki Kisen Kaisha Ltd.
 
105,400
1,485,074
KDDI Corp.
 
220,500
6,118,610
KDX Realty Investment Corp.
 
613
604,625
Keihan Electric Railway Co., Ltd.
 
16,100
336,726
Keikyu Corp.
 
38,900
309,234
Keio Corp.
 
19,300
472,218
Keisei Electric Railway Co.
 
25,300
942,500
Kewpie Corp.
 
16,500
331,358
Keyence Corp.
 
29,400
12,929,234
Kikkoman Corp.
 
143,100
1,705,095
Kinden Corp.
 
19,900
379,714
Kintetsu Group Holdings Co. Ltd.
 
28,200
724,982
Kirin Holdings Co. Ltd.
 
120,300
1,756,091
Kobayashi Pharmaceutical Co. Ltd.
 
7,900
280,054
Kobe Bussan Co. Ltd.
 
21,000
453,543
Kobe Steel Ltd.
 
59,800
729,891
Koito Manufacturing Co. Ltd.
 
36,700
493,642
Kokuyo Co. Ltd.
 
13,400
228,928
Komatsu Ltd.
 
143,600
4,287,343
Konami Group Corp.
 
15,100
911,094
Konica Minolta, Inc. (a)
 
69,200
230,100
Kose Corp.
 
5,100
262,977
Kubota Corp.
 
156,500
2,510,219
Kuraray Co. Ltd.
 
49,300
546,201
Kurita Water Industries Ltd.
 
15,500
613,863
Kyocera Corp.
 
205,100
2,499,891
Kyoto Financial Group, Inc.
 
44,400
790,283
Kyowa Hakko Kirin Co., Ltd.
 
37,200
624,731
Kyushu Electric Power Co., Inc.
 
70,500
654,021
Kyushu Financial Group, Inc.
 
65,200
436,256
Kyushu Railway Co.
 
22,900
492,715
LaSalle Logiport REIT
 
276
276,823
Lasertec Corp.
 
11,700
2,523,754
Lawson, Inc.
 
7,300
477,079
Lion Corp.
 
43,900
393,695
LIXIL Group Corp.
 
41,400
444,666
LY Corp.
 
391,600
940,872
M3, Inc.
 
63,100
667,483
Mabuchi Motor Co. Ltd.
 
15,600
241,611
Makita Corp.
 
41,300
1,195,672
Marubeni Corp.
 
248,600
4,429,148
Marui Group Co. Ltd.
 
28,200
430,723
Maruichi Steel Tube Ltd.
 
11,800
303,832
MatsukiyoCocokara & Co.
 
54,900
778,522
Mazda Motor Corp.
 
88,100
997,246
McDonald's Holdings Co. (Japan) Ltd. (b)
 
12,500
549,859
Mebuki Financial Group, Inc.
 
160,800
568,850
Medipal Holdings Corp.
 
30,300
475,197
Meiji Holdings Co. Ltd.
 
40,600
908,400
Minebea Mitsumi, Inc.
 
62,700
1,174,393
Misumi Group, Inc.
 
41,800
679,579
Mitsubishi Chemical Holdings Corp.
 
211,400
1,233,280
Mitsubishi Corp.
 
615,700
14,080,801
Mitsubishi Electric Corp.
 
316,500
5,516,572
Mitsubishi Estate Co. Ltd.
 
195,200
3,576,984
Mitsubishi Gas Chemical Co., Inc.
 
29,700
525,518
Mitsubishi Heavy Industries Ltd.
 
497,100
4,444,629
Mitsubishi Logistics Corp.
 
11,200
371,574
Mitsubishi Materials Corp.
 
18,600
363,492
Mitsubishi Motors Corp. of Japan
 
99,500
315,300
Mitsubishi UFJ Financial Group, Inc.
 
1,817,500
18,104,766
Mitsubishi UFJ Lease & Finance Co. Ltd.
 
141,600
917,008
Mitsui & Co. Ltd.
 
224,400
10,833,066
Mitsui Chemicals, Inc.
 
28,400
808,347
Mitsui Fudosan Co. Ltd.
 
414,300
4,216,357
Mitsui Fudosan Logistics Park, Inc.
 
80
229,508
Mitsui OSK Lines Ltd.
 
53,400
1,694,894
Miura Co. Ltd.
 
16,100
253,306
Mizuho Financial Group, Inc.
 
374,140
7,231,792
MonotaRO Co. Ltd.
 
35,800
429,059
MS&AD Insurance Group Holdings, Inc.
 
196,700
3,536,478
Murata Manufacturing Co. Ltd.
 
277,900
5,077,837
Nabtesco Corp.
 
17,100
282,012
Nagase & Co. Ltd.
 
17,800
307,946
Nagoya Railroad Co. Ltd.
 
30,400
396,527
Nankai Electric Railway Co. Ltd.
 
16,500
287,306
NEC Corp.
 
40,200
2,910,560
Net One Systems Co. Ltd.
 
12,100
202,465
Nexon Co. Ltd.
 
66,600
1,038,384
NGK Insulators Ltd.
 
39,100
532,632
NH Foods Ltd.
 
15,400
506,602
NHK Spring Co. Ltd.
 
31,600
320,261
Nichirei Corp.
 
19,900
498,229
Nidec Corp.
 
77,400
3,624,864
Nifco, Inc.
 
14,000
338,428
Nihon Kohden Corp.
 
13,300
361,606
Nihon M&A Center Holdings, Inc.
 
45,100
246,847
Nikon Corp.
 
49,000
506,627
Nintendo Co. Ltd.
 
172,200
8,398,023
Nippon Accommodations Fund, Inc.
 
73
304,009
Nippon Building Fund, Inc.
 
253
966,661
Nippon Express Holdings, Inc.
 
12,400
634,363
Nippon Paint Holdings Co. Ltd.
 
157,000
1,004,960
Nippon Sanso Holdings Corp.
 
31,200
926,715
Nippon Shinyaku Co. Ltd.
 
8,600
237,964
Nippon Steel & Sumitomo Metal Corp.
 
140,000
3,138,649
Nippon Telegraph & Telephone Corp.
 
4,398,800
4,749,219
Nippon Yusen KK
 
75,300
2,137,802
Nissan Chemical Corp.
 
20,600
702,217
Nissan Motor Co. Ltd.
 
331,800
1,214,290
Nisshin Seifun Group, Inc.
 
38,500
502,228
Nissin Food Holdings Co. Ltd.
 
36,700
979,360
Niterra Co. Ltd.
 
25,800
846,185
Nitori Holdings Co. Ltd.
 
12,800
1,713,063
Nitto Denko Corp.
 
21,200
1,752,937
NOF Corp.
 
36,600
491,023
Nomura Holdings, Inc.
 
433,700
2,467,747
Nomura Real Estate Holdings, Inc.
 
17,400
487,150
Nomura Real Estate Master Fund, Inc.
 
701
670,100
Nomura Research Institute Ltd.
 
68,400
1,655,136
NSK Ltd.
 
64,000
351,961
NTT Data Corp.
 
87,000
1,360,490
Obayashi Corp.
 
106,300
1,186,393
OBIC Co. Ltd.
 
9,700
1,246,126
Odakyu Electric Railway Co. Ltd.
 
54,000
607,105
Oji Holdings Corp.
 
148,200
580,502
Olympus Corp.
 
186,800
2,602,072
OMRON Corp.
 
30,300
1,039,969
Ono Pharmaceutical Co. Ltd.
 
72,100
1,038,483
Open House Group Co. Ltd.
 
9,900
301,061
Oracle Corp. Japan
 
4,800
360,214
Oriental Land Co. Ltd.
 
171,500
4,731,983
ORIX Corp.
 
170,200
3,483,214
ORIX JREIT, Inc.
 
427
450,092
Osaka Gas Co. Ltd.
 
62,100
1,380,849
Otsuka Corp.
 
34,400
684,152
Otsuka Holdings Co. Ltd.
 
82,200
3,514,614
Pan Pacific International Holdings Ltd.
 
78,600
1,846,002
Panasonic Holdings Corp.
 
361,800
3,157,955
Park24 Co. Ltd. (a)
 
18,700
201,391
Persol Holdings Co. Ltd.
 
265,000
366,577
Rakuten Group, Inc. (a)
 
216,800
1,042,688
Recruit Holdings Co. Ltd.
 
249,900
10,762,533
Renesas Electronics Corp.
 
210,700
3,420,873
Rengo Co. Ltd.
 
35,200
263,925
Resona Holdings, Inc.
 
345,700
2,186,120
Resonac Holdings Corp.
 
27,300
591,944
Ricoh Co. Ltd.
 
88,600
764,357
Rinnai Corp.
 
17,100
370,514
ROHM Co. Ltd.
 
51,500
740,305
Rohto Pharmaceutical Co. Ltd.
 
31,800
620,432
Ryohin Keikaku Co. Ltd.
 
40,700
655,638
Sankyu, Inc.
 
8,200
284,291
Sanrio Co. Ltd.
 
29,100
490,639
Santen Pharmaceutical Co. Ltd.
 
56,000
540,909
Sanwa Holdings Corp.
 
35,000
571,581
Sapporo Holdings Ltd.
 
11,600
419,290
SBI Holdings, Inc. Japan
 
36,100
878,968
Screen Holdings Co. Ltd.
 
14,100
1,454,798
SCSK Corp.
 
23,500
427,211
Secom Co. Ltd.
 
31,000
2,153,338
Sega Sammy Holdings, Inc.
 
22,900
299,737
Seibu Holdings, Inc.
 
40,700
633,459
Seiko Epson Corp.
 
48,800
802,759
Seino Holdings Co. Ltd.
 
24,900
333,589
Sekisui Chemical Co. Ltd.
 
61,800
899,069
Sekisui House (REIT), Inc.
 
615
315,126
Sekisui House Ltd.
 
97,800
2,247,479
Seven & i Holdings Co. Ltd.
 
352,900
4,559,892
SG Holdings Co. Ltd.
 
71,900
841,596
Sharp Corp. (a)
 
38,700
203,143
SHIFT, Inc. (a)
 
1,900
174,776
Shimadzu Corp.
 
40,800
1,108,457
Shimamura Co. Ltd.
 
7,000
345,078
SHIMANO, Inc.
 
12,000
1,950,156
SHIMIZU Corp.
 
91,200
564,935
Shin-Etsu Chemical Co. Ltd.
 
294,900
11,415,266
Shinko Electric Industries Co. Ltd.
 
9,900
347,592
Shionogi & Co. Ltd.
 
41,300
1,928,742
Shiseido Co. Ltd.
 
59,100
1,582,004
Shizuoka Financial Group
 
80,900
755,108
SHO-BOND Holdings Co. Ltd.
 
6,800
262,595
Skylark Holdings Co. Ltd.
 
34,400
490,223
SMC Corp.
 
8,900
4,675,763
Socionext, Inc.
 
26,200
765,974
SoftBank Corp.
 
416,500
5,023,692
SoftBank Group Corp.
 
153,800
7,563,976
Sohgo Security Services Co., Ltd.
 
65,600
364,850
Sojitz Corp.
 
30,840
794,033
Sompo Holdings, Inc.
 
146,000
2,889,359
Sony Group Corp.
 
185,800
15,356,624
Sotetsu Holdings, Inc.
 
13,800
219,981
Square Enix Holdings Co. Ltd.
 
13,200
477,142
Stanley Electric Co. Ltd.
 
21,500
380,485
Subaru Corp.
 
88,900
1,985,047
Sugi Holdings Co. Ltd.
 
14,700
215,682
Sumco Corp.
 
51,100
762,071
Sumitomo Chemical Co. Ltd.
 
241,800
516,596
Sumitomo Corp.
 
180,400
4,744,009
Sumitomo Electric Industries Ltd.
 
117,100
1,809,935
Sumitomo Forestry Co. Ltd.
 
29,300
902,724
Sumitomo Heavy Industries Ltd.
 
18,200
507,174
Sumitomo Metal Mining Co. Ltd.
 
40,400
1,349,709
Sumitomo Mitsui Financial Group, Inc.
 
197,100
11,196,032
Sumitomo Mitsui Trust Holdings, Inc.
 
107,500
2,260,170
Sumitomo Realty & Development Co. Ltd.
 
70,200
2,429,195
Sumitomo Rubber Industries Ltd.
 
26,500
321,653
Sundrug Co. Ltd.
 
10,600
307,794
Suntory Beverage & Food Ltd.
 
18,800
611,663
Suzuken Co. Ltd.
 
10,300
304,198
Suzuki Motor Corp.
 
289,600
3,372,620
Sysmex Corp.
 
70,200
1,122,524
T&D Holdings, Inc.
 
80,300
1,310,282
Taiheiyo Cement Corp.
 
18,900
432,290
Taisei Corp.
 
27,900
1,021,431
Taiyo Yuden Co. Ltd.
 
19,200
449,714
Takashimaya Co. Ltd.
 
23,200
328,867
Takeda Pharmaceutical Co. Ltd.
 
233,184
6,128,559
TDK Corp.
 
57,300
2,556,210
TechnoPro Holdings, Inc.
 
15,100
257,204
Teijin Ltd.
 
27,400
267,306
Terumo Corp.
 
220,300
3,737,198
The Hachijuni Bank Ltd.
 
76,200
508,325
THK Co. Ltd.
 
17,100
373,107
TIS, Inc.
 
32,000
683,410
Tobu Railway Co. Ltd.
 
31,000
615,055
Toho Co. Ltd.
 
18,800
629,845
Toho Gas Co. Ltd.
 
14,100
362,095
Tohoku Electric Power Co., Inc.
 
76,100
587,496
Tokio Marine Holdings, Inc.
 
295,000
9,323,887
Tokyo Century Corp.
 
26,800
266,749
Tokyo Electric Power Co., Inc. (a)
 
118,400
736,481
Tokyo Electron Ltd.
 
69,500
15,244,541
Tokyo Gas Co. Ltd.
 
59,500
1,334,422
Tokyo Ohka Kogyo Co. Ltd.
 
17,900
474,677
Tokyo Seimitsu Co. Ltd.
 
5,800
377,422
Tokyo Tatemono Co. Ltd.
 
30,500
507,519
Tokyu Corp.
 
92,300
1,092,607
Tokyu Fudosan Holdings Corp.
 
90,900
665,957
Toppan Holdings, Inc.
 
48,300
1,145,867
Toray Industries, Inc.
 
242,700
1,109,314
Tosoh Corp.
 
48,700
671,384
Toto Ltd.
 
23,000
622,483
Toyo Seikan Group Holdings Ltd.
 
22,200
343,153
Toyo Suisan Kaisha Ltd.
 
15,000
938,015
Toyo Tire Corp.
 
18,900
357,571
Toyota Industries Corp.
 
27,900
2,651,250
Toyota Motor Corp.
 
1,826,700
41,664,462
Toyota Tsusho Corp.
 
35,000
2,225,298
Trend Micro, Inc.
 
20,700
1,020,059
Tsumura & Co.
 
10,300
248,196
Tsuruha Holdings, Inc.
 
5,600
353,494
Ube Corp.
 
14,200
259,600
Ulvac, Inc.
 
6,800
406,611
Unicharm Corp.
 
65,100
1,934,326
United Urban Investment Corp.
 
462
442,686
USS Co. Ltd.
 
63,800
487,387
Welcia Holdings Co. Ltd.
 
16,000
235,245
West Japan Railway Co.
 
72,000
1,366,664
Yakult Honsha Co. Ltd.
 
45,000
880,189
Yamada Holdings Co. Ltd.
 
83,000
237,595
Yamaguchi Financial Group, Inc.
 
33,500
338,404
Yamaha Corp.
 
24,600
518,400
Yamaha Motor Co. Ltd.
 
154,800
1,443,854
Yamato Holdings Co. Ltd.
 
49,800
657,693
Yamato Kogyo Co. Ltd.
 
6,400
343,867
Yamazaki Baking Co. Ltd.
 
24,200
585,722
Yaskawa Electric Corp.
 
39,300
1,619,263
Yokogawa Electric Corp.
 
34,100
753,467
Yokohama Rubber Co. Ltd.
 
19,400
507,780
Zenkoku Hosho Co. Ltd.
 
8,000
280,896
Zensho Holdings Co. Ltd.
 
13,500
523,249
Zeon Corp.
 
27,700
276,062
ZOZO, Inc.
 
16,800
361,846
TOTAL JAPAN
 
 
678,063,324
Jordan - 0.0%
 
 
 
Hikma Pharmaceuticals PLC
 
25,528
613,727
Korea (South) - 3.5%
 
 
 
Advanced Nano Products Co. Ltd.
 
1,225
102,090
Alteogen, Inc. (a)
 
5,435
690,450
AMOREPACIFIC Corp.
 
3,915
475,845
AMOREPACIFIC Group, Inc.
 
4,731
113,891
BGF Retail Co. Ltd.
 
1,377
129,454
BNK Financial Group, Inc.
 
40,851
245,946
Celltrion Pharm, Inc.
 
2,658
182,972
Celltrion, Inc.
 
23,503
3,182,407
Cheil Worldwide, Inc.
 
9,535
129,684
CJ CheilJedang Corp.
 
1,205
291,259
CJ Corp.
 
2,328
212,888
CJ ENM Co. Ltd.
 
1,525
83,198
CJ Logistics Corp.
 
1,491
131,161
Cosmax, Inc.
 
1,218
122,542
Cosmo AM&T Co. Ltd. (a)
 
3,384
364,444
Cosmochemical Co. Ltd. (a)
 
4,292
97,876
Coupang, Inc. Class A (a)
 
168,937
3,801,083
Coway Co. Ltd.
 
7,841
313,282
CS Wind Corp.
 
3,886
145,203
Daeduck Electronics Co. Ltd.
 
4,750
78,596
Daejoo Electronic Materials Co. Ltd.
 
1,469
98,245
DB HiTek Co. Ltd.
 
5,703
168,055
Db Insurance Co. Ltd.
 
7,193
503,140
Delivery Hero AG (a)(c)
 
29,411
822,847
DGB Financial Group Co. Ltd.
 
23,590
143,692
DL E&C Co. Ltd.
 
4,223
112,889
Dongjin Semichem Co. Ltd.
 
4,354
134,235
Doosan Bobcat, Inc.
 
7,812
291,156
Doosan Co. Ltd.
 
1,584
172,544
Doosan Fuel Cell Co. Ltd. (a)
 
6,453
91,974
Doosan Heavy Industries & Construction Co. Ltd. (a)
 
67,839
816,821
Douzone Bizon Co. Ltd.
 
2,134
91,316
E-Mart, Inc.
 
2,992
136,834
Ecopro BM Co. Ltd.
 
6,731
1,140,964
Ecopro Co. Ltd.
 
14,580
1,099,008
Enchem Co. Ltd. (a)
 
1,844
376,168
EO Technics Co. Ltd.
 
1,187
200,950
F&F Co. Ltd.
 
2,581
121,834
Fila Holdings Corp.
 
5,660
166,150
Foosung Co. Ltd.
 
841
4,667
GS Engineering & Construction Corp.
 
9,294
109,864
GS Holdings Corp.
 
6,829
220,175
GS Retail Co. Ltd.
 
5,350
76,476
Hana Financial Group, Inc.
 
43,331
1,822,447
HanAll BioPharma Co. Ltd. (a)
 
4,785
123,620
Hanjin Kal Corp.
 
5,706
244,206
Hankook Tire Co. Ltd.
 
10,852
459,186
Hanmi Pharm Co. Ltd.
 
910
206,720
Hanmi Science Co. Ltd.
 
5,353
130,388
Hanmi Semiconductor Co. Ltd.
 
8,005
760,156
Hanon Systems
 
20,525
81,970
Hansol Chemical Co. Ltd.
 
1,281
177,183
Hanwha Aerospace Co. Ltd.
 
4,879
739,029
Hanwha Corp.
 
7,078
138,512
Hanwha Life Insurance Co. Ltd.
 
40,931
86,580
Hanwha Ocean Co. Ltd. (a)
 
21,763
499,722
Hanwha Solutions Corp.
 
17,291
313,819
Hanwha Systems Co. Ltd.
 
9,598
135,245
HD Hyundai Co. Ltd.
 
6,144
296,617
HD Hyundai Electric Co. Ltd.
 
3,141
552,567
HD Hyundai Heavy Industries Co. Ltd. (a)
 
2,594
255,829
HD Hyundai Infracore Co. Ltd.
 
16,797
99,650
Hd Hyundai Mipo (a)
 
3,128
167,962
HD Korea Shipbuilding & Offshore Engineering Co. Ltd. (a)
 
6,791
639,387
HL Mando Co. Ltd.
 
4,182
117,611
HLB, Inc.
 
17,412
1,387,325
HMM Co. Ltd.
 
42,089
479,190
Hotel Shilla Co.
 
4,611
196,973
HPSP Co. Ltd.
 
4,553
127,116
HUGEL, Inc. (a)
 
785
119,681
HYBE Co. Ltd.
 
2,664
385,348
Hyosung Advanced Materials Co.
 
351
92,350
Hyosung TNC Co. Ltd.
 
344
90,890
Hyundai Elevator Co. Ltd.
 
3,097
90,033
Hyundai Engineering & Construction Co. Ltd.
 
10,159
258,078
Hyundai Glovis Co. Ltd.
 
3,146
410,691
Hyundai Marine & Fire Insurance Co. Ltd.
 
8,144
183,328
Hyundai Mobis
 
9,244
1,508,078
Hyundai Motor Co. Ltd.
 
20,545
3,685,206
Hyundai Rotem Co. Ltd.
 
10,459
279,630
Hyundai Steel Co.
 
13,029
301,698
Hyundai Wia Corp.
 
2,121
88,041
Industrial Bank of Korea
 
47,975
480,968
Isupetasys Co. Ltd.
 
7,030
196,653
JB Financial Group Co. Ltd.
 
14,778
141,396
JYP Entertainment Corp.
 
3,837
183,006
Kakao Corp.
 
44,672
1,547,065
Kakao Games Corp. (a)
 
6,188
96,369
Kakao Pay Corp. (a)
 
3,711
93,261
KakaoBank Corp.
 
50,650
905,907
Kangwon Land, Inc.
 
15,698
172,980
KB Financial Group, Inc.
 
55,473
3,000,263
KCC Corp.
 
541
97,658
KEPCO E&C
 
1,921
90,316
Kia Corp.
 
37,422
3,161,614
Kiwoom Securities Co. Ltd.
 
1,898
179,736
Koh Young Technology, Inc.
 
7,349
85,457
Korea Aerospace Industries Ltd.
 
10,262
381,037
Korea Electric Power Corp. (a)
 
38,743
589,805
Korea Investment Holdings Co. Ltd.
 
6,161
296,949
Korea Zinc Co. Ltd.
 
1,803
598,924
Korean Air Lines Co. Ltd.
 
26,586
399,799
Korean Reinsurance Co.
 
15,834
93,327
KRAFTON, Inc. (a)
 
4,843
831,179
KT&G Corp.
 
14,885
956,442
Kum Yang Co. Ltd. (a)
 
4,949
331,138
Kumho Petro Chemical Co. Ltd.
 
2,401
238,141
L&F Co. Ltd.
 
3,730
435,114
Leeno Industrial, Inc.
 
1,511
268,469
LG Chemical Ltd.
 
7,131
2,043,345
LG Corp.
 
16,581
943,429
LG Display Co. Ltd. (a)
 
46,578
351,564
LG Electronics, Inc.
 
16,219
1,077,196
LG Energy Solution (a)
 
5,869
1,628,296
LG H & H Co. Ltd.
 
1,382
415,242
LG Innotek Co. Ltd.
 
2,131
337,780
LG Uplus Corp.
 
33,719
238,819
LIG Nex1 Co. Ltd.
 
1,866
215,423
LigaChem Biosciences, Inc. (a)
 
3,861
188,446
Lotte Chemical Corp.
 
2,502
192,807
Lotte Confectionery Co. Ltd.
 
5,518
109,680
Lotte Energy Materials Corp.
 
3,083
100,004
Lotte Shopping Co. Ltd.
 
1,888
94,399
LS Corp.
 
2,462
242,584
LS Electric Co. Ltd.
 
2,326
292,719
Lx Semicon Co. Ltd.
 
1,546
81,158
Meritz Financial Holdings Co.
 
16,035
914,274
Mirae Asset Securities Co. Ltd.
 
33,890
184,186
NAVER Corp.
 
22,137
2,911,686
NCSOFT Corp.
 
2,444
307,936
Netmarble Corp. (a)(c)
 
3,202
127,848
NH Investment & Securities Co. Ltd.
 
18,838
168,853
NongShim Co. Ltd.
 
481
137,728
Oci Holdings Co. Ltd.
 
2,116
143,764
Orion Corp./Republic of Korea
 
3,473
231,776
Pan Ocean Co., Ltd. (Korea)
 
32,842
96,821
Pearl Abyss Corp. (a)
 
4,107
94,108
POSCO
 
11,000
3,166,600
POSCO Chemtech Co. Ltd.
 
4,568
916,407
POSCO ICT Co. Ltd.
 
7,633
221,199
Posco International Corp.
 
6,341
208,551
Rainbow Robotics (a)
 
1,194
150,343
S-Oil Corp.
 
6,326
329,353
S.M. Entertainment Co. Ltd.
 
1,590
90,283
S1 Corp.
 
2,449
105,187
Sam Chun Dang Pharm Co. Ltd. (a)
 
2,129
159,805
Samsung Biologics Co. Ltd. (a)(c)
 
2,733
1,531,803
Samsung C&T Corp.
 
12,869
1,383,822
Samsung Card Co. Ltd.
 
3,845
108,001
Samsung E&A Co. Ltd. (a)
 
23,045
435,694
Samsung Electro-Mechanics Co. Ltd.
 
8,238
916,323
Samsung Electronics Co. Ltd.
 
762,580
42,270,591
Samsung Fire & Marine Insurance Co. Ltd.
 
4,810
1,073,588
Samsung Heavy Industries Co. Ltd. (a)
 
102,269
690,979
Samsung Life Insurance Co. Ltd.
 
13,811
867,835
Samsung SDI Co. Ltd.
 
7,729
2,385,191
Samsung SDS Co. Ltd.
 
5,825
667,299
Samsung Securities Co. Ltd.
 
8,814
240,440
Shinhan Financial Group Co. Ltd.
 
72,154
2,417,393
Shinsegae Co. Ltd.
 
915
109,266
Shinsung Delta Tech Co. Ltd.
 
2,197
128,524
SK Biopharmaceuticals Co. Ltd. (a)
 
4,189
262,792
SK Bioscience Co. Ltd. (a)
 
3,724
156,409
SK Hynix, Inc.
 
79,440
9,775,903
SK IE Technology Co. Ltd. (a)(c)
 
3,858
162,833
SK Innovation Co., Ltd. (a)
 
8,366
661,829
SK Square Co. Ltd. (a)
 
14,517
795,367
SK, Inc.
 
5,470
649,994
SKC Co. Ltd.
 
2,884
227,306
SOLUM Co. Ltd. (a)
 
5,424
101,900
SOOP Co. Ltd.
 
1,256
101,378
Soulbrain Co. Ltd.
 
578
124,431
ST Pharm Co. Ltd.
 
1,399
93,988
Taihan Electric Wire Co. Ltd.
 
16,887
166,641
WeMade Entertainment Co. Ltd. (b)
 
2,537
85,751
WONIK IPS Co. Ltd.
 
4,458
118,396
Woori Financial Group, Inc.
 
98,679
1,008,405
Youngone Corp.
 
2,963
81,765
Yuhan Corp.
 
8,048
417,464
TOTAL KOREA (SOUTH)
 
 
141,018,210
Kuwait - 0.2%
 
 
 
Agility Global PLC (d)(e)
 
458,280
18,581
Agility Public Warehousing Co. KSC (d)
 
229,140
244,153
Boubyan Bank KSC
 
206,427
394,374
Gulf Bank
 
343,688
287,614
Kuwait Finance House KSCP
 
1,459,504
3,408,508
Mabanee Co. SAKC
 
104,180
266,279
Mobile Telecommunication Co.
 
316,385
500,798
National Bank of Kuwait
 
1,230,318
3,451,914
National Industries Group Holding SAK
 
284,016
198,065
TOTAL KUWAIT
 
 
8,770,286
Luxembourg - 0.1%
 
 
 
Aperam SA
 
5,975
174,972
ArcelorMittal SA (Netherlands)
 
67,861
1,708,418
Eurofins Scientific SA
 
19,091
1,173,538
SES SA (France) (depositary receipt)
 
48,433
235,799
TOTAL LUXEMBOURG
 
 
3,292,727
Macau - 0.1%
 
 
 
Galaxy Entertainment Group Ltd.
 
297,000
1,332,607
Sands China Ltd. (a)
 
357,200
842,508
TOTAL MACAU
 
 
2,175,115
Malaysia - 0.5%
 
 
 
AMMB Holdings Bhd
 
320,200
281,463
Axiata Group Bhd
 
431,428
255,462
CelcomDigi Bhd
 
507,300
440,347
CIMB Group Holdings Bhd
 
1,104,496
1,526,446
Dialog Group Bhd
 
601,500
303,004
Gamuda Bhd
 
396,615
440,851
Genting Bhd
 
322,300
304,632
Genting Malaysia Bhd
 
453,800
250,328
Hong Leong Bank Bhd
 
107,000
432,113
IHH Healthcare Bhd
 
448,000
589,451
IJM Corp. Bhd
 
340,500
172,043
Inari Amertron Bhd
 
505,200
325,725
IOI Corp. Bhd
 
439,500
374,107
Kuala Lumpur Kepong Bhd
 
84,090
406,180
Malayan Banking Bhd
 
1,090,295
2,221,656
Malaysia Airports Holdings Bhd
 
169,891
355,566
Maxis Bhd
 
340,900
261,841
MISC Bhd
 
190,200
316,925
MR DIY Group M Sdn Bhd (c)
 
548,800
179,382
Nestle (Malaysia) Bhd
 
8,700
231,609
Petronas Chemicals Group Bhd
 
440,300
624,815
Petronas Dagangan Bhd
 
49,300
222,368
Petronas Gas Bhd
 
140,000
527,611
PPB Group Bhd
 
103,400
340,638
Press Metal Aluminium Holdings
 
572,800
643,875
Public Bank Bhd
 
2,237,700
1,930,034
QL Resources Bhd
 
154,700
207,750
RHB Bank Bhd
 
331,317
381,380
Sime Darby Bhd
 
446,500
261,400
Sime Darby Plantation Bhd
 
542,167
506,307
Sunway Bhd
 
301,100
221,575
Telekom Malaysia Bhd
 
310,230
402,055
Tenaga Nasional Bhd
 
425,900
1,066,471
V.S. Industry Bhd warrants 6/14/24 (a)
 
38,200
0
YTL Corp. Bhd
 
742,500
480,061
YTL Power International Bhd
 
380,700
364,957
TOTAL MALAYSIA
 
 
17,850,428
Malta - 0.0%
 
 
 
Kindred Group PLC (depository receipt)
 
33,790
379,587
Mexico - 0.7%
 
 
 
Alfa SA de CV Series A
 
448,400
329,807
America Movil S.A.B. de CV Series L
 
3,034,300
2,888,924
Arca Continental S.A.B. de CV
 
68,900
672,158
Banco del Bajio SA (c)
 
110,900
408,881
Borr Drilling Ltd. (b)
 
30,387
161,530
CEMEX S.A.B. de CV unit (a)
 
2,234,700
1,770,201
Coca-Cola FEMSA S.A.B. de CV unit
 
77,530
769,156
Corporacion Inmobiliaria Vesta S.A.B. de CV
 
116,800
413,248
Fibra Uno Administracion SA de CV
 
413,300
593,263
Fomento Economico Mexicano S.A.B. de CV unit
 
270,800
3,168,047
Gruma S.A.B. de CV Series B
 
26,095
512,524
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B
 
57,230
1,042,389
Grupo Aeroportuario del Sureste S.A.B. de CV Series B
 
27,370
940,173
Grupo Aeroportuario Norte S.A.B. de CV
 
41,500
459,460
Grupo Bimbo S.A.B. de CV Series A
 
221,800
929,370
Grupo Carso SA de CV Series A1
 
81,600
641,768
Grupo Elektra SA de CV (b)
 
8,290
535,042
Grupo Financiero Banorte S.A.B. de CV Series O
 
365,800
3,620,471
Grupo Financiero Inbursa S.A.B. de CV Series O (a)
 
261,600
724,904
Grupo Mexico SA de CV Series B
 
458,900
2,835,519
Industrias Penoles SA de CV (a)
 
26,990
391,692
Kimberly-Clark de Mexico SA de CV Series A
 
204,000
424,654
Orbia Advance Corp. S.A.B. de CV
 
137,000
225,044
Prologis Property Mexico SA
 
101,500
400,294
Promotora y Operadora de Infraestructura S.A.B. de CV
 
27,650
277,763
Qualitas Controladora S.A.B. de CV
 
28,800
376,620
Ternium SA sponsored ADR
 
7,173
301,983
Vista Energy S.A.B. de CV ADR (a)
 
10,994
474,391
Wal-Mart de Mexico SA de CV Series V
 
720,700
2,689,149
TOTAL MEXICO
 
 
28,978,425
Netherlands - 2.6%
 
 
 
Adyen BV (a)(c)
 
4,572
5,477,254
Akzo Nobel NV
 
25,254
1,674,739
Argenx SE (a)
 
8,725
3,259,343
ASM International NV (Netherlands)
 
6,767
4,298,381
ASML Holding NV (Netherlands)
 
58,867
52,312,598
BE Semiconductor Industries NV
 
11,927
1,597,426
Euronext NV (c)
 
14,694
1,327,434
EXOR NV
 
14,917
1,634,925
Heineken Holding NV
 
14,758
1,189,893
Heineken NV (Bearer)
 
37,367
3,640,867
IMCD NV
 
8,390
1,273,679
ING Groep NV (Certificaten Van Aandelen)
 
515,321
8,147,365
Koninklijke Ahold Delhaize NV
 
141,622
4,298,819
Koninklijke KPN NV
 
483,425
1,756,830
Koninklijke Philips Electronics NV
 
134,594
3,574,303
NN Group NV
 
42,000
1,943,051
Universal Music Group NV
 
112,751
3,333,082
Wolters Kluwer NV
 
36,621
5,500,782
TOTAL NETHERLANDS
 
 
106,240,771
New Zealand - 0.2%
 
 
 
Auckland International Airport Ltd.
 
192,842
884,876
Chorus Ltd.
 
62,906
266,541
Contact Energy Ltd.
 
119,405
609,611
Fisher & Paykel Healthcare Corp.
 
85,883
1,438,347
Fletcher Building Ltd.
 
119,599
267,688
Infratil Ltd.
 
121,756
781,764
Mainfreight Ltd.
 
12,731
508,823
Mercury Nz Ltd.
 
96,826
363,375
Meridian Energy Ltd.
 
182,446
643,466
Spark New Zealand Ltd.
 
274,533
765,463
The a2 Milk Co. Ltd. (a)
 
109,297
427,411
Xero Ltd. (a)
 
20,717
1,608,431
TOTAL NEW ZEALAND
 
 
8,565,796
Norway - 0.5%
 
 
 
Aker ASA (A Shares)
 
3,301
183,942
Aker BP ASA
 
46,259
1,132,687
AutoStore Holdings Ltd. (a)(c)
 
156,144
224,900
Borregaard ASA
 
13,365
229,076
DNB Bank ASA
 
131,483
2,297,416
Equinor ASA
 
145,999
3,884,796
Europris ASA (c)
 
23,405
147,908
Frontline PLC
 
21,184
505,166
Gjensidige Forsikring ASA
 
27,163
436,965
Golden Ocean Group Ltd.
 
17,865
252,251
Kongsberg Gruppen ASA
 
12,893
912,265
Leroy Seafood Group ASA
 
37,516
166,160
Mowi ASA
 
65,580
1,156,808
Nordic VLSI ASA (a)
 
27,020
300,398
Norsk Hydro ASA
 
199,544
1,226,275
Orkla ASA
 
111,484
760,723
Protector Forsikring ASA
 
9,160
186,358
Salmar ASA
 
10,558
666,736
Schibsted ASA:
 
 
 
 (A Shares)
 
9,853
281,882
 (B Shares)
 
15,027
420,975
Seadrill Ltd. (a)
 
10,681
522,584
SFL Corp. Ltd.
 
15,518
206,855
Sparebank 1 Sr Bank ASA (primary capital certificate)
 
27,132
329,243
Sparebanken Midt-Norge
 
19,341
254,758
Storebrand ASA (A Shares)
 
69,285
666,748
Telenor ASA
 
93,611
1,077,810
TGS ASA (b)
 
19,135
219,109
Tomra Systems ASA
 
34,526
427,981
Var Energi ASA
 
77,397
253,473
TOTAL NORWAY
 
 
19,332,248
Peru - 0.1%
 
 
 
Compania de Minas Buenaventura SAA sponsored ADR
 
35,908
621,208
Credicorp Ltd. (United States)
 
10,007
1,657,259
TOTAL PERU
 
 
2,278,467
Philippines - 0.2%
 
 
 
Ayala Corp.
 
36,360
386,818
Ayala Land, Inc.
 
916,500
454,710
Bank of the Philippine Islands (BPI)
 
304,886
668,087
BDO Unibank, Inc.
 
307,710
783,746
International Container Terminal Services, Inc.
 
118,540
678,549
Jollibee Food Corp.
 
65,790
267,731
Manila Electric Co.
 
40,910
259,443
Metropolitan Bank & Trust Co.
 
277,124
335,601
PLDT, Inc.
 
13,220
308,130
SM Investments Corp.
 
71,810
1,180,006
SM Prime Holdings, Inc.
 
1,694,500
819,480
TOTAL PHILIPPINES
 
 
6,142,301
Poland - 0.3%
 
 
 
Alior Bank SA
 
12,757
326,441
Allegro.eu SA (a)(c)
 
60,678
508,816
Bank Polska Kasa Opieki SA
 
26,383
1,099,183
Budimex SA
 
1,845
312,700
CD Projekt SA
 
10,401
303,845
Dino Polska SA (a)(c)
 
7,030
675,722
Grupa Kety SA
 
1,344
279,475
InPost SA (a)
 
30,320
489,569
KGHM Polska Miedz SA (Bearer)
 
20,466
709,630
Kruk SA
 
2,585
295,563
LPP SA
 
155
601,063
mBank SA (a)
 
1,877
317,337
Orlen SA
 
85,766
1,404,766
PGE Polska Grupa Energetyczna SA (a)
 
120,846
181,370
Powszechna Kasa Oszczednosci Bank SA
 
127,270
1,904,469
Powszechny Zaklad Ubezpieczen SA
 
83,729
1,058,481
Santander Bank Polska SA
 
5,143
711,023
TOTAL POLAND
 
 
11,179,453
Portugal - 0.1%
 
 
 
Banco Comercial Portugues SA (Reg.) (a)
 
1,115,710
391,259
Energias de Portugal SA
 
438,050
1,648,359
Galp Energia SGPS SA Class B
 
62,234
1,341,606
Jeronimo Martins SGPS SA
 
40,495
836,235
TOTAL PORTUGAL
 
 
4,217,459
Qatar - 0.2%
 
 
 
Barwa Real Estate Co.
 
312,693
241,326
Industries Qatar QSC
 
277,426
933,389
Masraf al Rayan
 
982,329
677,729
Mesaieed Petrochemical Holding Co.
 
594,690
313,433
Ooredoo QSC
 
108,720
298,301
Qatar Electricity & Water Co.
 
92,308
386,624
Qatar Fuel Co.
 
97,996
389,185
Qatar Gas Transport Co. Ltd. (Nakilat)
 
402,222
441,770
Qatar International Islamic Bank QSC
 
173,782
480,156
Qatar Islamic Bank
 
245,061
1,231,699
Qatar National Bank SAQ
 
654,245
2,492,276
Qatar Navigation QPSC
 
147,728
428,050
The Commercial Bank of Qatar
 
464,196
529,472
TOTAL QATAR
 
 
8,843,410
Romania - 0.0%
 
 
 
NEPI Rockcastle PLC
 
80,068
538,164
Russia - 0.0%
 
 
 
Alrosa Co. Ltd. (a)(d)
 
280,800
46,515
Gazprom OAO (a)(d)
 
1,373,390
143,095
LUKOIL PJSC (a)(d)
 
41,065
12,656
Magnit OJSC (a)(d)
 
8,984
184
MMC Norilsk Nickel PJSC (a)(d)
 
681,400
45,122
Novatek PJSC (a)(d)
 
110,726
3,079
Polyus PJSC (a)(d)
 
3,653
8,554
Sberbank of Russia (a)(d)
 
1,236,820
7,572
Severstal PAO (a)(d)
 
21,400
476
Surgutneftegas OJSC (a)(d)
 
1,002,400
12,213
Tatneft PAO (a)(d)
 
175,192
21,697
VK Co. Ltd. GDR (Reg. S) (a)(d)
 
12,713
0
TOTAL RUSSIA
 
 
301,163
Saudi Arabia - 1.0%
 
 
 
Abdullah Al Othaim Markets Co.
 
63,047
209,451
ACWA Power Co.
 
19,404
2,069,429
Ades Holding Co.
 
49,615
264,306
Advanced Petrochemicals Co.
 
17,298
196,935
Al Hammadi Co. for Development and Investment
 
11,341
167,820
Al Rajhi Bank
 
288,902
6,154,554
Aldrees Petroleum and Transport Services Co.
 
5,341
239,808
Alinma Bank
 
180,713
1,606,884
Almarai Co. Ltd.
 
34,686
525,293
Arabian Internet and Communications Services Co. Ltd.
 
3,397
315,191
Astra Industrial Group
 
5,129
237,401
Bank Al-Jazira
 
78,306
338,228
Bank Albilad
 
89,898
855,692
Banque Saudi Fransi
 
86,617
846,401
Bupa Arabia for Cooperative Insurance Co.
 
3,670
236,017
Catrion Catering Holding Co.
 
5,812
195,872
Dallah Healthcare Co.
 
4,804
208,780
Dar Al Arkan Real Estate Development Co. (a)
 
82,029
290,883
Dr Sulaiman Al Habib Medical Services Group Co.
 
12,339
1,021,835
Elm Co.
 
3,872
944,204
Emaar The Economic City (a)
 
77,086
159,491
Etihad Etisalat Co.
 
55,504
769,532
Jarir Marketing Co.
 
91,464
330,193
Leejam Sports Co. JSC
 
3,631
202,529
Luberef
 
7,242
292,723
Mobile Telecommunications Co. Saudi Arabia
 
60,502
194,866
Mouwasat Medical Services Co.
 
14,202
508,918
Nahdi Medical Co.
 
5,627
207,341
National Industrialization Co. (a)
 
50,384
188,070
Power & Water Utility Co. for Jubail & Yanbu
 
10,865
188,297
Riyad Bank
 
203,820
1,505,310
Sabic Agriculture-Nutrients Co.
 
34,633
1,069,296
Sahara International Petrochemical Co.
 
52,404
479,245
SAL Saudi Logistics Services
 
3,494
245,007
Saudi Arabian Mining Co.
 
179,541
2,422,219
Saudi Awwal Bank
 
55,610
604,940
Saudi Basic Industries Corp.
 
132,711
2,989,943
Saudi Cement Co.
 
10,319
126,284
Saudi Dairy & Foodstuffs Co.
 
2,173
211,472
Saudi Electricity Co.
 
117,152
581,606
Saudi Industrial Investment Group
 
52,043
322,199
Saudi Investment Bank/The
 
77,411
348,397
Saudi Kayan Petrochemical Co. (a)
 
103,846
259,435
Saudi Research & Marketing Group (a)
 
5,888
378,028
Saudi Tadawul Group Holding Co.
 
7,208
508,899
Saudi Telecom Co.
 
265,577
2,665,967
The Co. for Cooperative Insurance
 
10,741
426,707
The Saudi National Bank
 
433,392
4,344,782
The Savola Group
 
38,625
520,067
Yanbu National Petrochemical Co.
 
40,515
418,588
TOTAL SAUDI ARABIA
 
 
40,395,335
Singapore - 1.0%
 
 
 
CapitaLand Ascendas REIT
 
531,097
1,006,016
Capitaland Ascott Trust unit
 
357,312
237,324
CapitaLand Integrated Commercial Trust
 
757,938
1,080,437
CapitaLand Investment Ltd.
 
360,973
698,069
City Developments Ltd.
 
71,600
320,906
ComfortDelgro Corp. Ltd.
 
316,700
344,480
DBS Group Holdings Ltd.
 
297,832
7,582,031
Frasers Logistics & Industrial Trust
 
429,200
310,906
Genting Singapore Ltd.
 
843,000
562,593
Grab Holdings Ltd. (a)
 
307,985
1,077,948
Hafnia Ltd.
 
37,438
283,772
Keppel Ltd.
 
205,400
1,027,393
Mapletree Industrial (REIT)
 
306,054
506,775
Mapletree Logistics Trust (REIT)
 
475,825
466,928
Mapletree Pan Asia Commercial Trust
 
322,218
295,272
NetLink NBN Trust
 
394,400
246,827
Oversea-Chinese Banking Corp. Ltd.
 
572,322
5,941,603
SATS Ltd. (a)
 
144,523
265,415
Sea Ltd. ADR (a)
 
50,704
3,203,986
Seatrium Ltd. (a)
 
6,347,976
453,475
Sembcorp Industries Ltd.
 
131,000
511,958
Singapore Airlines Ltd. (b)
 
199,250
950,745
Singapore Exchange Ltd.
 
123,300
841,094
Singapore Technologies Engineering Ltd.
 
233,900
687,078
Singapore Telecommunications Ltd.
 
1,049,000
1,819,255
STMicroelectronics NV (Italy)
 
96,724
3,832,539
Suntec (REIT)
 
318,000
250,706
United Overseas Bank Ltd.
 
226,300
5,021,779
UOL Group Ltd.
 
66,100
282,231
Venture Corp. Ltd.
 
40,400
428,048
TOTAL SINGAPORE
 
 
40,537,589
South Africa - 0.9%
 
 
 
Absa Group Ltd.
 
122,586
945,270
Anglo American Platinum Ltd. (b)
 
8,473
295,157
Anglo American PLC (United Kingdom)
 
197,069
6,439,718
Aspen Pharmacare Holdings Ltd.
 
55,430
660,333
Bid Corp. Ltd.
 
49,240
1,122,321
Bidvest Group Ltd./The
 
49,794
649,366
Capitec Bank Holdings Ltd.
 
13,306
1,646,789
Clicks Group Ltd.
 
34,779
541,119
Discovery Ltd.
 
71,413
454,949
Exxaro Resources Ltd.
 
34,250
328,152
FirstRand Ltd.
 
783,860
2,706,004
Foschini Group Ltd./The
 
50,162
264,845
Gold Fields Ltd.
 
131,594
2,128,884
Growthpoint Properties Ltd.
 
544,472
314,580
Harmony Gold Mining Co. Ltd.
 
80,121
693,545
Impala Platinum Holdings Ltd.
 
129,748
577,580
Mr Price Group Ltd.
 
37,306
345,622
MTN Group Ltd.
 
248,516
1,191,089
MultiChoice Group Ltd. (a)
 
43,895
280,558
Naspers Ltd. Class N
 
26,696
5,109,017
Nedbank Group Ltd.
 
72,233
878,293
Northam Platinum Holdings Ltd.
 
51,992
344,482
Old Mutual Ltd.
 
600,658
352,915
OUTsurance Group Ltd.
 
100,184
215,377
Remgro Ltd.
 
79,145
515,691
Sanlam Ltd.
 
255,396
923,865
Sappi Ltd.
 
80,644
216,642
Sasol Ltd.
 
85,244
598,866
Shoprite Holdings Ltd.
 
69,709
930,080
Sibanye-Stillwater Ltd.
 
418,736
477,925
Standard Bank Group Ltd.
 
196,968
1,849,680
Tiger Brands Ltd.
 
22,526
245,029
Vodacom Group Ltd.
 
103,918
497,285
Woolworths Holdings Ltd.
 
135,031
428,950
TOTAL SOUTH AFRICA
 
 
35,169,978
Spain - 1.6%
 
 
 
Acciona SA
 
3,584
415,761
ACS Actividades de Construccion y Servicios SA
 
29,411
1,179,539
Aena SME SA (c)
 
10,799
1,977,637
Amadeus IT Holding SA Class A
 
66,436
4,216,955
Banco Bilbao Vizcaya Argentaria SA
 
860,009
9,300,111
Banco de Sabadell SA
 
802,850
1,538,816
Banco Santander SA (Spain)
 
2,331,564
11,378,745
Bankinter SA
 
94,647
749,474
CaixaBank SA
 
596,889
3,147,729
Cellnex Telecom SA (c)
 
86,536
2,860,421
EDP Renovaveis SA
 
44,221
607,369
Enagas SA
 
36,123
530,454
Endesa SA
 
46,977
857,289
Iberdrola SA
 
860,906
10,556,065
Industria de Diseno Textil SA
 
165,256
7,557,078
Merlin Properties Socimi SA
 
50,577
572,683
Naturgy Energy Group SA
 
26,736
676,795
Redeia Corp. SA
 
60,581
1,011,804
Repsol SA
 
179,491
2,817,304
Telefonica SA
 
847,921
3,798,345
TOTAL SPAIN
 
 
65,750,374
Sweden - 2.2%
 
 
 
AAK AB
 
27,470
709,408
AddTech AB (B Shares)
 
38,206
807,081
Alfa Laval AB
 
42,673
1,833,866
ASSA ABLOY AB (B Shares)
 
145,906
3,855,043
Atlas Copco AB:
 
 
 
 (A Shares)
 
379,055
6,639,561
 (B Shares)
 
231,843
3,523,802
Avanza Bank Holding AB
 
17,283
374,190
Axfood AB
 
15,609
404,233
Beijer Ref AB (B Shares)
 
56,624
814,133
Billerud AB
 
31,505
264,009
Boliden AB
 
40,062
1,338,139
Bravida Holding AB (c)
 
29,163
198,868
Castellum AB (a)
 
61,901
748,739
Dometic Group AB (c)
 
46,766
337,365
Electrolux AB (B Shares) (a)
 
32,341
285,600
Elekta AB (B Shares)
 
55,708
400,355
Embracer Group AB (a)(b)
 
126,187
321,754
Epiroc AB:
 
 
 
 (A Shares)
 
91,075
1,683,738
 (B Shares)
 
58,895
986,536
EQT AB
 
52,842
1,449,506
Essity AB (B Shares)
 
88,959
2,216,629
Evolution AB (c)
 
28,413
3,176,365
Fabege AB
 
37,804
292,610
Fastighets AB Balder (a)
 
99,186
638,295
Fortnox AB
 
70,140
416,115
Getinge AB (B Shares)
 
31,890
680,025
H&M Hennes & Mauritz AB (B Shares)
 
90,781
1,455,985
Hemnet Group AB
 
12,199
319,908
Hexagon AB (B Shares)
 
309,766
3,281,658
HEXPOL AB (B Shares)
 
39,923
456,453
Holmen AB (B Shares)
 
14,087
551,700
Husqvarna AB (B Shares)
 
53,164
437,453
Industrivarden AB:
 
 
 
 (A Shares)
 
21,989
712,721
 (C Shares)
 
23,686
767,080
Indutrade AB
 
39,086
915,757
Investment AB Latour (B Shares)
 
19,571
478,602
Investor AB (B Shares)
 
267,888
6,620,386
Kinnevik AB (B Shares) (a)
 
35,106
371,116
L E Lundbergforetagen AB
 
10,893
541,665
Lagercrantz Group AB (B Shares)
 
28,648
426,065
Lifco AB
 
31,198
764,352
Loomis AB (B Shares)
 
9,917
255,565
Nibe Industrier AB (B Shares)
 
225,338
1,055,083
Nordnet AB
 
24,129
436,145
Saab AB (B Shares)
 
12,080
963,076
Sagax AB
 
31,224
788,222
Sandvik AB
 
159,045
3,213,978
Sectra AB (B Shares)
 
19,384
385,555
Securitas AB (B Shares)
 
74,072
749,095
Sinch AB (a)(b)(c)
 
101,423
234,866
Skandinaviska Enskilda Banken AB (A Shares)
 
246,195
3,245,992
Skanska AB (B Shares)
 
52,018
905,562
SKF AB (B Shares)
 
55,403
1,156,282
SSAB AB (B Shares)
 
95,114
537,694
Svenska Cellulosa AB SCA (B Shares)
 
88,584
1,302,588
Svenska Handelsbanken AB (A Shares)
 
232,169
1,990,925
Sweco AB (B Shares)
 
31,292
337,328
Swedbank AB (A Shares)
 
135,136
2,604,523
Swedish Orphan Biovitrum AB (a)
 
33,798
875,281
Tele2 AB (B Shares)
 
82,570
772,474
Telefonaktiebolaget LM Ericsson (B Shares)
 
454,985
2,308,998
Telia Co. AB
 
343,009
786,215
Thule Group AB (c)
 
16,029
456,708
Trelleborg AB (B Shares)
 
33,271
1,187,086
Volvo AB:
 
 
 
 (A Shares)
 
28,100
746,586
 (B Shares)
 
233,931
6,015,757
Volvo Car AB
 
81,733
259,059
Wallenstam AB (B Shares)
 
67,665
302,824
Wihlborgs Fastigheter AB
 
41,421
349,547
TOTAL SWEDEN
 
 
86,719,880
Switzerland - 3.4%
 
 
 
ABB Ltd. (Reg.)
 
238,400
11,583,484
Adecco SA (Reg.)
 
24,765
868,560
Alcon, Inc. (Switzerland)
 
73,611
5,693,492
Baloise Holdings AG
 
6,732
1,016,483
Compagnie Financiere Richemont SA Series A
 
79,098
10,933,482
DSM-Firmenich AG
 
30,553
3,446,471
Geberit AG (Reg.)
 
4,929
2,646,673
Givaudan SA
 
1,170
5,022,377
Julius Baer Group Ltd.
 
30,355
1,628,800
Kuehne & Nagel International AG
 
8,189
2,170,965
Lindt & Spruengli AG
 
15
1,736,198
Lindt & Spruengli AG (participation certificate)
 
158
1,823,639
Logitech International SA (Reg.)
 
23,367
1,831,739
Lonza Group AG
 
10,973
6,057,027
Novartis AG
 
305,301
29,631,768
Partners Group Holding AG
 
3,224
4,171,823
Sandoz Group AG
 
63,601
2,161,602
Schindler Holding AG (participation certificate)
 
6,003
1,501,974
SGS SA (Reg.)
 
23,341
2,058,223
Sika AG
 
23,651
6,774,336
Sonova Holding AG
 
7,040
1,955,960
Straumann Holding AG
 
17,162
2,296,357
Swatch Group AG (Bearer)
 
4,285
900,327
Swiss Life Holding AG
 
4,354
2,941,348
Swisscom AG
 
3,738
2,047,411
UBS Group AG
 
448,779
11,848,644
VAT Group AG (c)
 
3,982
2,004,320
Zurich Insurance Group Ltd.
 
21,554
10,415,324
TOTAL SWITZERLAND
 
 
137,168,807
Taiwan - 5.1%
 
 
 
Accton Technology Corp.
 
74,000
1,034,853
Acer, Inc.
 
459,000
630,440
Advantech Co. Ltd.
 
71,458
829,680
Alchip Technologies Ltd.
 
11,000
1,035,621
AP Memory Technology Corp.
 
19,000
219,155
ASE Technology Holding Co. Ltd.
 
504,000
2,263,262
Asia Cement Corp.
 
367,000
491,348
Asia Vital Components Co. Ltd.
 
48,000
945,152
ASMedia Technology, Inc.
 
4,000
236,100
ASPEED Tech, Inc.
 
4,300
401,915
ASUSTeK Computer, Inc.
 
103,000
1,348,212
AUO Corp.
 
1,034,000
577,143
AURAS Technology Co. Ltd.
 
10,000
241,328
BizLink Holding, Inc.
 
18,560
130,520
Catcher Technology Co. Ltd.
 
101,000
673,448
Cathay Financial Holding Co. Ltd.
 
1,427,923
2,204,149
Chailease Holding Co. Ltd.
 
239,057
1,258,608
Chang Hwa Commercial Bank
 
1,033,934
577,118
Cheng Shin Rubber Industry Co. Ltd.
 
299,000
430,908
Chicony Electronics Co. Ltd.
 
100,000
617,960
China Airlines Ltd.
 
423,000
270,407
China Development Financial Ho (a)
 
2,486,000
1,037,409
China Petrochemical Development Corp. (a)
 
481,277
165,686
China Steel Corp.
 
1,857,000
1,412,188
Chipbond Technology Corp.
 
84,000
195,108
Chroma ATE, Inc.
 
60,000
486,437
Chung Hsin Electric & Machinery Manufacturing Corp.
 
60,000
335,587
Chunghwa Telecom Co. Ltd.
 
559,000
2,120,889
Compal Electronics, Inc.
 
606,000
659,825
Compeq Manufacturing Co. Ltd.
 
163,000
383,323
CTBC Financial Holding Co. Ltd.
 
2,893,000
3,014,111
Delta Electronics, Inc.
 
284,000
2,776,351
E Ink Holdings, Inc.
 
130,000
829,641
E.SUN Financial Holdings Co. Ltd.
 
2,311,574
1,938,967
ECLAT Textile Co. Ltd.
 
30,000
471,185
Elan Microelectronics Corp.
 
40,000
200,971
Elite Material Co. Ltd.
 
45,000
559,293
eMemory Technology, Inc.
 
9,000
603,837
EVA Airways Corp.
 
417,619
453,244
Evergreen Marine Corp. (Taiwan)
 
148,657
862,244
Far Eastern International Bank
 
512,740
240,779
Far Eastern New Century Corp.
 
572,000
569,580
Far EasTone Telecommunications Co. Ltd.
 
215,000
532,341
Faraday Technology Corp.
 
32,197
285,864
Feng Tay Enterprise Co. Ltd.
 
94,417
468,618
First Financial Holding Co. Ltd.
 
1,621,793
1,357,168
FLEXium Interconnect, Inc.
 
42,000
117,414
Formosa Chemicals & Fibre Corp.
 
604,000
1,024,759
Formosa Petrochemical Corp.
 
257,000
566,920
Formosa Plastics Corp.
 
709,000
1,486,916
Fortune Electric Co. Ltd.
 
27,000
694,268
Foxconn Technology Co. Ltd.
 
152,000
285,977
Fubon Financial Holding Co. Ltd.
 
1,247,035
2,633,435
Genius Electronic Optical Co. Ltd.
 
14,000
187,857
Getac Holdings Corp.
 
59,000
188,816
Giant Manufacturing Co. Ltd.
 
47,341
316,152
Gigabyte Technology Co. Ltd.
 
73,000
657,173
Global Unichip Corp.
 
13,000
538,950
GlobalWafers Co. Ltd.
 
30,000
475,827
Gold Circuit Electronics Ltd.
 
45,000
268,343
Great Wall Enterprise Co. Ltd.
 
111,977
196,044
Highwealth Construction Corp.
 
223,676
303,562
HIWIN Technologies Corp.
 
43,192
304,888
Hon Hai Precision Industry Co. Ltd. (Foxconn)
 
1,776,800
8,443,152
Hotai Motor Co. Ltd.
 
53,960
1,022,139
HTC Corp. (a)
 
99,000
128,602
Hua Nan Financial Holdings Co. Ltd.
 
1,514,755
1,095,373
IBF Financial Holdings Co. Ltd. (a)
 
413,946
184,485
Innolux Corp.
 
1,347,663
585,058
International Games Systems Co. Ltd.
 
19,000
580,011
Inventec Corp.
 
469,000
751,040
Jentech Precision Industrial Co. Ltd.
 
12,000
356,394
King Slide Works Co. Ltd.
 
10,000
371,306
King Yuan Electronics Co. Ltd.
 
166,000
482,168
King's Town Bank Co. Ltd.
 
132,000
226,906
Kinsus Interconnect Technology Corp.
 
38,000
110,499
Largan Precision Co. Ltd.
 
15,000
998,092
Lien Hwa Industrial Corp.
 
159,731
324,782
Lite-On Technology Corp.
 
327,000
987,998
Lotes Co. Ltd.
 
13,398
585,844
Macronix International Co. Ltd.
 
275,340
231,985
Makalot Industrial Co. Ltd.
 
32,459
387,939
MediaTek, Inc.
 
236,000
7,103,027
Mega Financial Holding Co. Ltd.
 
1,636,281
2,001,553
Merida Industry Co. Ltd.
 
34,000
243,872
Micro-Star International Co. Ltd.
 
108,000
524,563
momo.com, Inc.
 
11,484
154,976
Nan Ya Plastics Corp.
 
833,000
1,443,853
Nan Ya Printed Circuit Board Corp.
 
30,000
170,515
Nanya Technology Corp.
 
168,000
338,496
Nien Made Enterprise Co. Ltd.
 
28,000
326,636
Novatek Microelectronics Corp.
 
83,000
1,565,515
Oneness Biotech Co. Ltd.
 
44,270
214,116
Pegatron Corp.
 
305,000
908,022
PharmaEssentia Corp. (a)
 
44,000
394,921
Phison Electronics Corp.
 
24,000
511,398
Pou Chen Corp.
 
389,000
429,807
Powerchip Semiconductor Manufacturing Corp.
 
475,000
331,281
Powertech Technology, Inc.
 
106,000
563,485
Poya International Co. Ltd.
 
9,313
142,426
President Chain Store Corp.
 
83,000
696,758
Primax Electronics Ltd.
 
64,000
189,376
Qisda Corp.
 
237,000
298,941
Quanta Computer, Inc.
 
409,000
3,204,224
Radiant Opto-Electronics Corp.
 
71,000
432,112
Realtek Semiconductor Corp.
 
71,000
1,118,045
Ruentex Development Co. Ltd.
 
278,658
327,282
Ruentex Industries Ltd.
 
107,790
198,430
Shihlin Electric & Engineering Corp.
 
42,000
374,446
Shin Kong Financial Holding Co. Ltd. (a)
 
2,305,432
608,147
Silicon Motion Tech Corp. sponsored ADR
 
5,162
381,007
Simplo Technology Co. Ltd.
 
28,000
373,252
SINBON Electronics Co. Ltd.
 
32,000
275,151
Sino-American Silicon Products, Inc.
 
81,000
481,397
Sinopac Financial Holdings Co.
 
1,829,075
1,228,351
Synnex Technology International Corp.
 
190,000
463,582
Ta Chen Stainless Pipe Co. Ltd.
 
278,350
312,896
Taichung Commercial Bank Co. Ltd.
 
532,455
288,570
Taishin Financial Holdings Co. Ltd.
 
1,837,663
1,009,964
Taiwan Business Bank
 
939,110
486,709
Taiwan Cement Corp.
 
973,600
955,298
Taiwan Cooperative Financial Holding Co. Ltd.
 
1,556,818
1,248,878
Taiwan Fertilizer Co. Ltd.
 
102,000
204,017
Taiwan High Speed Rail Corp.
 
335,000
306,588
Taiwan Mobile Co. Ltd.
 
251,000
799,670
Taiwan Semiconductor Manufacturing Co. Ltd.
 
3,591,000
85,829,181
Taiwan Union Technology Corp.
 
40,000
223,963
Tatung Co. Ltd. (a)
 
267,000
533,071
TECO Electric & Machinery Co. Ltd.
 
241,000
408,729
The Shanghai Commercial & Savings Bank Ltd.
 
724,218
1,029,607
Tong Hsing Electronics Industries Ltd.
 
24,060
108,095
Tong Yang Industry Co. Ltd.
 
70,000
254,362
Tripod Technology Corp.
 
67,000
401,200
Tung Ho Steel Enterprise Corp.
 
65,300
146,425
Uni-President Enterprises Corp.
 
705,000
1,650,713
Unimicron Technology Corp.
 
188,000
1,037,796
United Integrated Services Co.
 
26,000
313,145
United Microelectronics Corp.
 
1,716,000
2,631,814
Vanguard International Semiconductor Corp.
 
138,000
360,986
Voltronic Power Technology Corp.
 
10,250
484,139
Walsin Lihwa Corp.
 
461,374
520,224
Walsin Technology Corp.
 
48,000
162,421
Wan Hai Lines Ltd.
 
202,000
313,202
Win Semiconductors Corp.
 
62,000
275,066
Winbond Electronics Corp.
 
446,517
353,486
Wisdom Marine Lines Co. Ltd.
 
70,000
146,005
Wistron Corp.
 
426,000
1,456,057
Wistron NeWeb Corp.
 
52,000
238,202
Wiwynn Corp.
 
15,000
1,065,189
WPG Holding Co. Ltd.
 
253,040
682,202
WT Microelectronics Co. Ltd.
 
72,000
328,107
Yageo Corp.
 
49,775
947,745
Yang Ming Marine Transport Corp.
 
268,000
427,713
YFY, Inc.
 
180,000
170,909
Yuanta Financial Holding Co. Ltd.
 
1,872,638
1,753,480
Yulon Finance Corp.
 
42,699
193,092
Yulon Motor Co. Ltd.
 
92,368
193,428
Zhen Ding Technology Holding Ltd.
 
90,000
317,995
TOTAL TAIWAN
 
 
205,068,349
Thailand - 0.4%
 
 
 
Advanced Info Service PCL (For. Reg.)
 
18,600
98,557
Advanced Information Service PCL NVDR
 
141,700
750,833
Airports of Thailand PCL:
 
 
 
 (For. Reg.)
 
335,700
587,807
 NVDR
 
294,600
515,841
Asset World Corp. PCL NVDR
 
1,207,900
142,210
B. Grimm Power PCL:
 
 
 
 (For. Reg.)
 
11,600
7,981
 NVDR
 
157,900
108,636
Bangkok Bank PCL:
 
 
 
 (For. Reg.)
 
11,400
41,946
 NVDR
 
68,700
252,780
Bangkok Chain Hospital PCL NVDR
 
172,600
93,285
Bangkok Commercial Asset Management PCL:
 
 
 
 (For. Reg.)
 
59,300
15,784
 NVDR
 
94,100
25,046
Bangkok Dusit Medical Services PCL:
 
 
 
 (For. Reg.)
 
172,600
134,418
 NVDR
 
536,900
418,127
Bangkok Expressway and Metro PCL:
 
 
 
 (For. Reg.)
 
573,400
127,658
 NVDR
 
475,000
105,751
Banpu PCL NVDR
 
650,300
96,758
Berli Jucker PCL:
 
 
 
 (For. Reg.)
 
39,000
25,647
 NVDR
 
91,600
60,239
BTS Group Holdings PCL:
 
 
 
 (For. Reg.)
 
313,800
53,194
 NVDR
 
559,900
95,238
Bumrungrad Hospital PCL:
 
 
 
 (For. Reg.)
 
19,000
125,067
 NVDR
 
39,100
257,375
Carabao Group PCL:
 
 
 
 (For. Reg.)
 
8,100
14,836
 NVDR
 
65,200
119,422
Central Pattana PCL:
 
 
 
 (For. Reg.)
 
77,400
131,641
 NVDR
 
126,800
215,660
Central Plaza Hotel PCL NVDR
 
75,600
91,163
Central Retail Corp. PCL:
 
 
 
 (For. Reg.)
 
176,708
163,008
 NVDR
 
233,500
215,397
Charoen Pokphand Foods PCL:
 
 
 
 (For. Reg.)
 
251,200
133,616
 NVDR
 
279,900
148,881
Chularat Hospital PCL NVDR unit
 
775,000
60,393
CP ALL PCL:
 
 
 
 (For. Reg.)
 
163,000
251,241
 NVDR
 
495,500
763,741
Delta Electronics PCL:
 
 
 
 (For. Reg.)
 
274,000
509,679
 NVDR
 
390,200
725,828
Electricity Generating PCL NVDR
 
33,800
101,970
Energy Absolute PCL:
 
 
 
 (For. Reg.)
 
126,300
103,513
 NVDR
 
142,800
117,036
Global Power Synergy Public Co. Ltd.:
 
 
 
 (For. Reg.)
 
44,294
57,915
 NVDR
 
64,600
84,465
Gulf Energy Development PCL:
 
 
 
 (For. Reg.)
 
266,700
287,313
 NVDR
 
592,600
638,402
Hana Microelectronics PCL NVDR
 
86,600
89,384
Home Product Center PCL:
 
 
 
 (For. Reg.)
 
164,700
45,850
 NVDR
 
361,600
100,664
Indorama Ventures PCL NVDR
 
299,200
191,512
Intouch Holdings PCL:
 
 
 
 (For. Reg.)
 
45,100
81,013
 NVDR
 
81,000
145,501
IRPC PCL:
 
 
 
 (For. Reg.)
 
672,700
35,487
 NVDR
 
758,800
40,029
JMT Network Services PCL:
 
 
 
 NVDR
 
93,622
51,588
 warrants (a)
 
3,605
121
Kasikornbank PCL:
 
 
 
 (For. Reg.)
 
46,900
164,190
 NVDR
 
128,000
448,109
KCE Electronics PCL NVDR
 
83,800
87,570
Kiatnakin Bank PCL:
 
 
 
 warrants 3/17/26 (a)
 
4,316
196
 (For. Reg.)
 
51,800
72,338
Krung Thai Bank PCL:
 
 
 
 (For. Reg.)
 
166,000
74,873
 NVDR
 
309,600
139,643
Krungthai Card PCL:
 
 
 
 (For. Reg.)
 
54,000
62,094
 NVDR
 
93,500
107,515
Land & House PCL:
 
 
 
 (For. Reg.)
 
205,900
41,216
 NVDR
 
248,400
49,723
Minor International PCL:
 
 
 
 (For. Reg.)
 
205,756
181,928
 NVDR
 
206,948
182,982
Muangthai Leasing PCL:
 
 
 
 (For. Reg.)
 
29,100
35,318
 NVDR
 
69,100
83,866
Ngern Tid Lor PCL NVDR
 
203,810
113,890
Osotspa PCL:
 
 
 
 (For. Reg.)
 
72,200
41,555
 NVDR
 
104,900
60,375
PTT Exploration and Production PCL:
 
 
 
 (For. Reg.)
 
82,500
344,193
 NVDR
 
130,000
542,365
PTT Global Chemical PCL NVDR
 
260,800
256,540
PTT Oil & Retail Business PCL NVDR
 
472,500
236,605
PTT PCL:
 
 
 
 (For. Reg.)
 
317,500
286,967
 NVDR
 
968,600
875,454
Ratch Group PCL NVDR unit
 
80,500
62,129
SCB X PCL:
 
 
 
 (For. Reg.)
 
28,750
82,109
 NVDR
 
100,600
287,311
SCG Packaging PCL NVDR
 
176,900
153,588
Siam Cement PCL:
 
 
 
 (For. Reg.)
 
2,600
17,371
 NVDR
 
40,400
269,925
Siam Global House PCL NVDR
 
330,476
143,321
Sri Trang Agro-Industry PCL NVDR
 
89,000
41,786
Srisawad Corp. PCL:
 
 
 
 (For. Reg.)
 
26,600
29,114
 NVDR
 
68,500
74,880
Thai Beverage PCL
 
1,283,000
464,593
Thai Life Insurance PCL
 
318,800
78,480
Thai Oil PCL:
 
 
 
 (For. Reg.)
 
62,275
90,494
 NVDR
 
63,277
91,950
Thai Union Frozen Products PCL:
 
 
 
 (For. Reg.)
 
86,400
34,532
 NVDR
 
196,700
78,615
Thanachart Capital PCL:
 
 
 
 (For. Reg.)
 
28,000
36,626
 NVDR
 
47,900
63,115
TISCO Financial Group PCL:
 
 
 
 (For. Reg.)
 
8,600
22,480
 NVDR
 
46,800
122,333
TMBThanachart Bank PCL:
 
 
 
 (For. Reg.)
 
1,455,487
70,733
 NVDR
 
5,512,571
267,896
True Corp. PCL (a)
 
617,650
127,024
True Corp. PCL NVDR (a)
 
1,933,349
397,607
VGI PCL warrants (For. Reg.) (a)
 
116,340
248
WHA Corp. PCL:
 
 
 
 (For. Reg.)
 
369,000
49,448
 NVDR
 
705,800
94,580
TOTAL THAILAND
 
 
17,598,240
Turkey - 0.3%
 
 
 
AG Anadolu Grubu Holding A/S
 
17,544
175,921
Akbank TAS
 
452,197
830,078
Aksa Akrilik Kimya Sanayii
 
20,118
72,306
Aksa Enerji Uretim A/S
 
35,272
41,887
Alarko Holding AS
 
19,695
70,908
Anadolu Efes Biracilik Ve Malt Sanayii A/S
 
27,409
154,453
Anadolu Sigoria (a)
 
27,432
76,232
Arcelik A/S
 
29,526
157,721
Aselsan A/S
 
178,649
335,109
Astor Transformator Enerji Turizm Insaat Ve Petrol Sanayi Ticaret A/S
 
32,520
94,187
Bera Holding A/S
 
78,276
45,801
Bim Birlesik Magazalar A/S JSC
 
67,608
807,883
Borusan Mannesmann Boru Sanayi ve Ticaret A/S (a)
 
5,728
106,384
Borusan Yatirim ve Pazarlama A/S
 
968
96,617
Coca-Cola Icecek Sanayi A/S
 
11,467
256,701
Dogan Sirketler Grubu Holding A/S
 
160,124
72,136
Ege Endustri Ve Ticaret A/S
 
170
91,860
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S
 
236,463
71,115
Enerjisa Enerji A/S (c)
 
34,232
71,928
Enka Insaat ve Sanayi A/S
 
268,128
317,916
Eregli Demir ve Celik Fabrikalari T.A.S.
 
271,095
360,442
Europower Enerji VE Otomasyon Teknolojileri Sanayi Ticaret A/S
 
13,237
60,900
Ford Otomotiv Sanayi A/S
 
10,340
355,668
Haci Omer Sabanci Holding A/S
 
198,007
564,315
Hektas Ticaret A/S (a)
 
146,675
68,930
Is Yatirim Menkul Degerler A/S
 
77,783
89,777
Kaleseramik Canakkale Kalebodur Seramik Sanayi A/S
 
30,391
56,397
Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S Class D
 
95,920
77,065
Kayseri Seker Fabrikasi A/S
 
41,170
42,332
Koc Holding A/S
 
188,482
1,315,860
Kontrolmatik Enerji Ve Muhendislik A/S
 
11,789
85,907
Koza Altin Isletmeleri A/S
 
132,578
95,218
Koza Anadolu Metal Madencilik Isletmeleri A/S (a)
 
23,901
38,302
Mavi Jeans Class B (c)
 
43,790
125,071
MIA Teknoloji A/S
 
31,785
55,157
Migros Turk Ticaret A/S
 
13,154
179,523
MLP Saglik Hizmetleri A/S (a)(c)
 
13,544
97,859
Nuh Cimento Sanayi A/S
 
7,790
73,303
Otokar Otomotiv ve Savunma Sanayi A.S.
 
5,333
86,204
Oyak Cimento Fabrikalari A/S (a)
 
55,237
103,358
Pegasus Hava Tasimaciligi A/S (a)
 
6,152
196,416
Petkim Petrokimya Holding A/S (a)
 
177,193
113,364
Politeknik Metal Sanayi Ve Ticaret A/S
 
112
63,978
Reeder Teknoloji Sanayi VE Ticaret A/S
 
36,959
47,588
Sarkuysan Elektrolitik Bakir Sanayi ve Ticaret A/S
 
53,352
55,714
Sasa Polyester Sanayi A/S
 
144,777
184,535
Sok Marketler Ticaret A/S
 
43,806
78,857
TAV Havalimanlari Holding A/S (a)
 
27,996
190,091
Tekfen Holding A/S
 
22,549
36,031
Tofas Turk Otomobil Fabrikasi A/S
 
17,316
147,168
Turk Hava Yollari AO (a)
 
106,291
1,069,925
Turk Traktor ve Ziraat Makinalari A/S
 
3,433
97,469
Turkcell Iletisim Hizmet A/S
 
173,238
432,209
Turkiye Is Bankasi A/S Series C
 
1,269,621
537,466
Turkiye Petrol Rafinerileri A/S
 
122,867
742,826
Turkiye Sinai Kalkinma Bankasi A/S (a)
 
202,086
61,151
Turkiye Sirgota A/S
 
33,721
68,980
Turkiye Sise ve Cam Fabrikalari A/S
 
185,065
288,001
Ulker Biskuvi Sanayi A/S (a)
 
27,753
97,948
Yapi ve Kredi Bankasi A/S
 
390,332
389,051
TOTAL TURKEY
 
 
12,777,499
United Arab Emirates - 0.4%
 
 
 
Abu Dhabi Commercial Bank PJSC
 
432,417
983,060
Abu Dhabi Islamic Bank
 
217,612
661,208
Abu Dhabi National Oil Co. for Distribution PJSC
 
446,777
424,529
Air Arabia PJSC (a)
 
323,556
236,089
Aldar Properties PJSC
 
568,054
844,448
Americana Restaurants International PLC
 
418,896
379,788
Dubai Electricity & Water Authority PJSC
 
1,340,843
857,900
Dubai Islamic Bank Pakistan Ltd.
 
429,977
650,895
Emaar Development PJSC
 
115,084
261,946
Emaar Properties PJSC
 
911,254
2,036,918
Emirates NBD Bank PJSC
 
362,842
1,679,412
Emirates Telecommunications Corp.
 
513,508
2,376,769
First Abu Dhabi Bank PJSC
 
652,045
2,215,558
Multiply Group (a)
 
539,370
337,758
Q Holding Pjsc (a)
 
295,828
237,603
Salik Co. PJSC
 
266,304
250,868
TOTAL UNITED ARAB EMIRATES
 
 
14,434,749
United Kingdom - 6.9%
 
 
 
3i Group PLC
 
143,314
5,120,244
Abrdn PLC
 
270,871
495,854
Admiral Group PLC
 
38,776
1,322,270
Ashtead Group PLC
 
66,521
4,855,947
Associated British Foods PLC
 
48,969
1,625,186
AstraZeneca PLC (United Kingdom)
 
228,369
34,540,572
Auto Trader Group PLC (c)
 
134,039
1,162,049
Aviva PLC
 
403,857
2,350,106
B&M European Value Retail SA
 
137,860
894,045
BAE Systems PLC
 
447,879
7,449,220
Barclays PLC
 
2,123,257
5,353,357
Barratt Developments PLC
 
143,281
814,080
Beazley PLC
 
98,177
813,349
Bellway PLC
 
17,896
565,757
Berkeley Group Holdings PLC
 
16,830
991,351
British American Tobacco PLC (United Kingdom)
 
329,453
9,671,514
British Land Co. PLC
 
141,390
685,495
BT Group PLC
 
837,083
1,073,172
Bunzl PLC
 
49,986
1,920,021
Burberry Group PLC
 
53,939
771,794
Centrica PLC
 
829,856
1,326,773
CK Hutchison Holdings Ltd.
 
397,000
1,928,140
Coca-Cola European Partners PLC
 
30,378
2,187,824
Compass Group PLC
 
262,946
7,313,508
ConvaTec Group PLC (c)
 
241,206
753,497
Croda International PLC
 
21,078
1,214,182
DCC PLC (United Kingdom)
 
15,271
1,046,641
Derwent London PLC
 
16,376
420,712
Diageo PLC
 
327,603
11,321,854
Diploma PLC
 
20,047
908,804
DS Smith PLC
 
203,138
889,424
Entain PLC
 
93,746
921,426
Flutter Entertainment PLC (a)
 
26,106
4,868,647
Games Workshop Group PLC
 
4,763
589,804
Halma PLC
 
56,013
1,544,702
Hargreaves Lansdown PLC
 
52,026
529,044
Hiscox Ltd.
 
53,003
814,628
Howden Joinery Group PLC
 
81,923
896,734
HSBC Holdings PLC (United Kingdom)
 
2,814,549
24,396,379
IG Group Holdings PLC
 
56,175
525,047
IMI PLC
 
38,434
841,402
Imperial Brands PLC
 
131,224
2,998,489
Inchcape PLC
 
62,444
624,215
Informa PLC
 
202,117
2,009,835
InterContinental Hotel Group PLC
 
25,374
2,474,828
Intermediate Capital Group PLC
 
43,282
1,135,743
International Consolidated Airlines Group SA CDI (a)
 
374,337
815,812
Intertek Group PLC
 
23,711
1,464,812
ITV PLC
 
540,953
475,191
J Sainsbury PLC
 
262,235
863,098
JD Sports Fashion PLC
 
375,498
542,399
Johnson Matthey PLC
 
28,052
615,520
Kingfisher PLC
 
277,660
855,283
Land Securities Group PLC
 
110,365
897,082
Legal & General Group PLC
 
881,958
2,600,839
Lloyds Banking Group PLC
 
9,441,322
6,093,273
London Stock Exchange Group PLC
 
57,512
6,340,129
M&G PLC
 
352,533
885,861
Man Group PLC
 
181,228
583,344
Marks & Spencer Group PLC
 
289,689
925,947
Melrose Industries PLC
 
198,277
1,565,329
National Grid PLC
 
548,875
7,199,682
NatWest Group PLC
 
802,980
3,030,755
Next PLC
 
18,737
2,109,027
Ocado Group PLC (a)
 
110,406
487,129
Pearson PLC
 
101,954
1,237,094
Persimmon PLC
 
47,466
773,417
Phoenix Group Holdings PLC
 
139,461
853,543
Reckitt Benckiser Group PLC
 
108,555
6,068,985
RELX PLC (London Stock Exchange)
 
280,822
11,538,100
Rentokil Initial PLC
 
371,912
1,877,402
Rightmove PLC
 
120,360
774,539
Rolls-Royce Holdings PLC (a)
 
1,239,777
6,357,608
RS GROUP PLC
 
70,877
652,719
Sage Group PLC
 
148,345
2,161,350
Schroders PLC
 
136,994
603,926
Segro PLC
 
194,544
2,061,424
Severn Trent PLC
 
40,468
1,247,483
Smith & Nephew PLC
 
129,575
1,569,886
Smiths Group PLC
 
51,628
1,042,510
Spectris PLC
 
15,871
660,393
Spirax-Sarco Engineering PLC
 
10,844
1,198,508
SSE PLC
 
161,617
3,359,436
St. James's Place PLC
 
78,827
429,059
Standard Chartered PLC (United Kingdom)
 
326,073
2,801,469
Subsea 7 SA
 
33,364
541,225
Tate & Lyle PLC
 
60,060
494,566
Taylor Wimpey PLC
 
527,090
868,727
Tesco PLC
 
1,037,628
3,830,996
The Weir Group PLC
 
38,497
986,130
Tritax Big Box REIT PLC
 
274,801
520,560
Unilever PLC
 
370,524
19,167,505
Unite Group PLC
 
59,501
689,963
United Utilities Group PLC
 
100,361
1,309,867
Vodafone Group PLC
 
3,357,546
2,831,426
Whitbread PLC
 
27,508
1,088,581
Wise PLC (a)
 
68,633
665,929
WPP PLC
 
158,740
1,591,077
TOTAL UNITED KINGDOM
 
 
277,163,580
United States of America - 6.0%
 
 
 
Bausch Health Cos., Inc. (Canada) (a)
 
44,841
392,807
BP PLC
 
2,486,294
16,025,749
Brookfield Renewable Corp.
 
20,105
467,045
CRH PLC
 
107,735
8,394,920
CSL Ltd.
 
71,168
12,644,855
CyberArk Software Ltd. (a)
 
6,151
1,471,627
DHT Holdings, Inc.
 
18,667
213,177
Experian PLC
 
136,050
5,487,433
Ferrovial SE
 
73,586
2,654,347
Flex Ltd. (a)
 
62,163
1,780,970
GFL Environmental, Inc.
 
32,626
1,041,122
Globant SA (a)
 
6,196
1,106,544
GSK PLC
 
603,579
12,522,405
Haleon PLC
 
919,017
3,881,324
Holcim AG
 
78,497
6,570,809
ICON PLC (a)
 
12,142
3,616,859
InMode Ltd. (a)(b)
 
9,917
170,473
James Hardie Industries PLC CDI (a)
 
64,202
2,207,133
JBS SA
 
94,900
428,390
Legend Biotech Corp. ADR (a)
 
8,559
374,371
Monday.com Ltd. (a)
 
3,776
714,910
Nestle SA (Reg. S)
 
393,352
39,492,619
Parade Technologies Ltd.
 
10,000
226,622
QIAGEN NV (Germany)
 
32,942
1,373,885
Reliance Worldwide Corp. Ltd.
 
119,927
393,641
Roche Holding AG:
 
 
 
 (Bearer)
 
3,867
1,012,971
 (participation certificate)
 
103,573
24,817,564
Sanofi SA
 
163,987
16,200,770
Schneider Electric SA
 
79,095
18,034,713
Shell PLC (London)
 
954,741
33,939,723
Spotify Technology SA (a)
 
21,231
5,954,022
Stellantis NV (Italy)
 
325,860
7,261,183
Swiss Re Ltd.
 
42,595
4,625,328
Tenaris SA
 
68,292
1,142,413
Waste Connections, Inc. (Canada)
 
37,963
6,155,044
TOTAL UNITED STATES OF AMERICA
 
 
242,797,768
Zambia - 0.0%
 
 
 
First Quantum Minerals Ltd.
 
104,308
1,324,450
 
TOTAL COMMON STOCKS
 (Cost $3,493,390,766)
 
 
 
3,895,992,285
 
 
 
 
Nonconvertible Preferred Stocks - 0.8%
 
 
Shares
Value ($)
 
Brazil - 0.4%
 
 
 
Banco Bradesco SA (PN)
 
780,579
2,104,554
Bradespar SA (PN)
 
34,209
131,299
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B)
 
32,229
257,951
Companhia Energetica de Minas Gerais (CEMIG) (PN)
 
285,654
698,704
Companhia Paranaense de Energia-COPEL (PN-B)
 
206,400
361,317
Gerdau SA
 
213,600
751,134
Itau Unibanco Holding SA
 
715,150
4,319,051
Itausa-Investimentos Itau SA (PN)
 
829,157
1,526,546
Metalurgica Gerdau SA (PN)
 
95,300
194,175
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.)
 
670,000
5,421,831
TOTAL BRAZIL
 
 
15,766,562
Chile - 0.0%
 
 
 
Embotelladora Andina SA Class B
 
52,026
147,128
Sociedad Quimica y Minera de Chile SA (PN-B)
 
21,017
959,945
TOTAL CHILE
 
 
1,107,073
Colombia - 0.0%
 
 
 
Bancolombia SA (PN)
 
69,254
566,672
Germany - 0.2%
 
 
 
Dr. Ing. h.c. F. Porsche AG Series F (c)
 
13,299
1,183,963
Henkel AG & Co. KGaA
 
24,008
1,907,238
Porsche Automobil Holding SE (Germany)
 
22,670
1,155,071
Sartorius AG (non-vtg.)
 
3,967
1,195,140
Volkswagen AG
 
27,045
3,313,150
TOTAL GERMANY
 
 
8,754,562
Korea (South) - 0.2%
 
 
 
Hyundai Motor Co. Ltd.
 
2,715
308,075
Hyundai Motor Co. Ltd. Series 2
 
5,457
621,814
LG Chemical Ltd.
 
950
181,815
Samsung Electronics Co. Ltd.
 
114,565
5,334,193
TOTAL KOREA (SOUTH)
 
 
6,445,897
Russia - 0.0%
 
 
 
AK Transneft OAO (a)(d)
 
16,800
48,539
Sberbank of Russia (Russia) (a)(d)
 
109,390
675
Surgutneftegas OJSC (a)(d)
 
841,000
14,569
TOTAL RUSSIA
 
 
63,783
 
TOTAL NONCONVERTIBLE PREFERRED STOCKS
 (Cost $35,588,286)
 
 
 
32,704,549
 
 
 
 
Government Obligations - 0.1%
 
 
Principal
Amount (f)
 
Value ($)
 
United States of America - 0.1%
 
 
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (g)
  (Cost $3,488,802)
 
3,500,000
3,488,707
 
 
 
 
Money Market Funds - 1.9%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (h)
 
70,080,750
70,094,767
Fidelity Securities Lending Cash Central Fund 5.39% (h)(i)
 
8,365,832
8,366,669
 
TOTAL MONEY MARKET FUNDS
 (Cost $78,461,245)
 
 
78,461,436
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 99.6%
 (Cost $3,610,929,099)
 
 
 
4,010,646,977
NET OTHER ASSETS (LIABILITIES) - 0.4%  
16,200,476
NET ASSETS - 100.0%
4,026,847,453
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
ICE E-mini MSCI EAFE Index Contracts (United States)
556
Jun 2024
63,036,500
(1,135,828)
(1,135,828)
ICE MSCI Emerging Markets Index Contracts (United States)
535
Jun 2024
27,873,500
87,024
87,024
TME S&P/TSX 60 Index Contracts (Canada)
39
Jun 2024
7,396,869
(75,194)
(75,194)
 
 
 
 
 
 
TOTAL FUTURES CONTRACTS
 
 
 
 
(1,123,998)
The notional amount of futures purchased as a percentage of Net Assets is 2.5%
 
 
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 $69,742,714 or 1.7% of net assets.
 
(d)
Level 3 security
 
(e)
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
 
(f)
Amount is stated in United States dollars unless otherwise noted.
 
(g)
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 $3,099,965.
 
(h)
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.
 
(i)
Investment made with cash collateral received from securities on loan.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
78,761,332
288,188,690
296,854,994
2,251,191
(262)
1
70,094,767
0.1%
Fidelity Securities Lending Cash Central Fund 5.39%
9,334,323
36,545,676
37,513,330
44,189
-
-
8,366,669
0.0%
Total
88,095,655
324,734,366
334,368,324
2,295,380
(262)
1
78,461,436
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
205,051,372
45,720,826
159,330,546
-
Consumer Discretionary
454,921,393
119,116,767
335,804,626
-
Consumer Staples
278,392,100
79,154,750
199,237,166
184
Energy
222,243,884
82,578,087
139,409,949
255,848
Financials
833,360,441
342,681,780
490,670,414
8,247
Health Care
349,326,905
55,941,611
293,385,294
-
Industrials
578,308,508
185,647,206
392,398,568
262,734
Information Technology
505,451,574
111,455,944
393,995,630
-
Materials
292,781,383
123,945,411
168,735,305
100,667
Real Estate
87,391,921
24,061,705
63,330,216
-
Utilities
121,467,353
42,238,642
79,228,711
-
 Government Obligations
3,488,707
-
3,488,707
-
  Money Market Funds
78,461,436
78,461,436
-
-
 Total Investments in Securities:
4,010,646,977
1,291,004,165
2,719,015,132
627,680
 Derivative Instruments:
 Assets
 
 
 
 
Futures Contracts
87,024
87,024
-
-
  Total Assets
87,024
87,024
-
-
 Liabilities
 
 
 
 
Futures Contracts
(1,211,022)
(1,211,022)
-
-
  Total Liabilities
(1,211,022)
(1,211,022)
-
-
 Total Derivative Instruments:
(1,123,998)
(1,123,998)
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
87,024
(1,211,022)
Total Equity Risk
87,024
(1,211,022)
Total Value of Derivatives
87,024
(1,211,022)
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Fidelity ZERO® International Index Fund
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  (including  securities loaned of $7,904,970) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $3,532,467,854)
$
3,932,185,541
 
 
Fidelity Central Funds (cost $78,461,245)
78,461,436
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $3,610,929,099)
 
 
$
4,010,646,977
Foreign currency held at value (cost $6,864,656)
 
 
6,775,404
Receivable for investments sold
 
 
801,412
Receivable for fund shares sold
 
 
4,347,330
Dividends receivable
 
 
14,202,626
Reclaims receivable
 
 
7,164,273
Distributions receivable from Fidelity Central Funds
 
 
257,582
Other receivables
 
 
2,960
  Total assets
 
 
4,044,198,564
Liabilities
 
 
 
 
Payable for investments purchased
 
 
 
 
Regular delivery
$
838,345
 
 
Delayed delivery
61,445
 
 
Payable for fund shares redeemed
1,698,590
 
 
Payable for daily variation margin on futures contracts
1,288,186
 
 
Deferred taxes
2,620,198
 
 
Other payables and accrued expenses
2,477,581
 
 
Collateral on securities loaned
8,366,766
 
 
  Total liabilities
 
 
 
17,351,111
Net Assets  
 
 
$
4,026,847,453
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
3,785,188,337
Total accumulated earnings (loss)
 
 
 
241,659,116
Net Assets
 
 
$
4,026,847,453
Net Asset Value, offering price and redemption price per share ($4,026,847,453 ÷ 356,007,163 shares)
 
 
$
11.31
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
57,374,552
Interest  
 
 
102,479
Income from Fidelity Central Funds (including $44,189 from security lending)
 
 
2,295,380
 Income before foreign taxes withheld
 
 
$
59,772,411
Less foreign taxes withheld
 
 
(5,449,792)
 Total income
 
 
 
54,322,619
Expenses
 
 
 
 
Independent trustees' fees and expenses
$
9,192
 
 
 Total expenses
 
 
 
9,192
Net Investment income (loss)
 
 
 
54,313,427
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers (net of foreign taxes of $131,829)
 
(44,955,520)
 
 
   Fidelity Central Funds
 
(262)
 
 
 Foreign currency transactions
 
117,239
 
 
 Futures contracts
 
8,847,734
 
 
Total net realized gain (loss)
 
 
 
(35,990,809)
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers (net of increase in deferred foreign taxes of $2,606,911)  
 
527,774,451
 
 
   Fidelity Central Funds
 
1
 
 
 Assets and liabilities in foreign currencies
 
(194,673)
 
 
 Futures contracts
 
4,133,538
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
531,713,317
Net gain (loss)
 
 
 
495,722,508
Net increase (decrease) in net assets resulting from operations
 
 
$
550,035,935
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
54,313,427
$
101,063,467
Net realized gain (loss)
 
(35,990,809)
 
 
(53,049,034)
 
Change in net unrealized appreciation (depreciation)
 
531,713,317
 
274,682,668
 
Net increase (decrease) in net assets resulting from operations
 
550,035,935
 
 
322,697,101
 
Distributions to shareholders
 
(109,268,182)
 
 
(77,147,029)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
537,666,639
 
767,830,253
  Reinvestment of distributions
 
95,152,226
 
 
68,275,410
 
Cost of shares redeemed
 
(325,298,931)
 
(424,367,743)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
307,519,934
 
 
411,737,920
 
Total increase (decrease) in net assets
 
748,287,687
 
 
657,287,992
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
3,278,559,766
 
2,621,271,774
 
End of period
$
4,026,847,453
$
3,278,559,766
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
48,558,462
 
73,261,474
  Issued in reinvestment of distributions
 
8,818,557
 
 
7,009,796
 
Redeemed
 
(29,417,010)
 
(40,762,226)
Net increase (decrease)
 
27,960,009
 
39,509,044
 
 
 
 
 
 
Financial Highlights
 
Fidelity ZERO® International Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 
 
2020 
 
2019   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
9.99
$
9.08
$
12.40
$
9.67
$
10.14
$
9.13
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.16
 
.33
 
.33
 
.30
 
.23
 
.32
     Net realized and unrealized gain (loss)
 
1.49
 
.85
 
(3.34)
 
2.62
 
(.45)
 
.75
  Total from investment operations
 
1.65  
 
1.18  
 
(3.01)  
 
2.92  
 
(.22)
 
1.07
  Distributions from net investment income
 
(.33)
 
(.27)
 
(.31)
 
(.19)
 
(.25)
 
(.06)
     Total distributions
 
(.33)
 
(.27)
 
(.31)
 
(.19)
 
(.25)
 
(.06)
  Net asset value, end of period
$
11.31
$
9.99
$
9.08
$
12.40
$
9.67
$
10.14
 Total Return C,D
 
16.68
%
 
 
13.03%
 
(24.79)%
 
30.39%
 
(2.34)%
 
11.79%
 Ratios to Average Net Assets B,E,F
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions G
 
-% H
 
-%
 
-%
 
-%
 
-%
 
-%
    Expenses net of fee waivers, if any G
 
-
% H
 
 
-%
 
-%
 
-%
 
-%
 
-%
    Expenses net of all reductions G
 
-% H
 
-%
 
-%
 
-%
 
-%
 
-%
    Net investment income (loss)
 
2.86% H
 
3.12%
 
3.11%
 
2.50%
 
2.39%
 
3.34%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
4,026,847
$
3,278,560
$
2,621,272
$
3,139,096
$
1,651,017
$
1,260,503
    Portfolio turnover rate I
 
5
% H
 
 
6%
 
6%
 
8%
 
8%
 
4%
 
ACalculated based on average shares outstanding during the period.
 
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
CTotal returns for periods of less than one year are not annualized.
 
DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
GAmount represents less than .005%.
 
HAnnualized.
 
IAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
 
Top Holdings (% of Fund's net assets)
 
Microsoft Corp.
6.7
 
Apple, Inc.
5.7
 
NVIDIA Corp.
4.9
 
Amazon.com, Inc.
3.7
 
Alphabet, Inc. Class A
2.2
 
Meta Platforms, Inc. Class A
2.2
 
Alphabet, Inc. Class C
1.9
 
Berkshire Hathaway, Inc. Class B
1.7
 
Eli Lilly & Co.
1.5
 
Broadcom, Inc.
1.3
 
 
31.8
 
 
Market Sectors (% of Fund's net assets)
 
Information Technology
29.8
 
Financials
13.3
 
Health Care
12.1
 
Consumer Discretionary
10.1
 
Communication Services
9.1
 
Industrials
8.7
 
Consumer Staples
5.9
 
Energy
4.0
 
Materials
2.3
 
Utilities
2.3
 
Real Estate
2.1
 
 
Asset Allocation (% of Fund's net assets)
Futures - 0.3%
 
Fidelity ZERO® Large Cap Index Fund
Common Stocks - 99.7%
 
 
Shares
Value ($)
 
COMMUNICATION SERVICES - 9.1%
 
 
 
Diversified Telecommunication Services - 0.6%
 
 
 
AT&T, Inc.
 
1,462,909
24,708,533
Verizon Communications, Inc.
 
860,214
33,969,851
 
 
 
58,678,384
Entertainment - 1.3%
 
 
 
Electronic Arts, Inc.
 
49,782
6,313,353
Liberty Media Corp. Liberty Formula One:
 
 
 
 Class A
 
5,211
324,489
 Class C
 
42,348
2,963,090
Liberty Media Corp. Liberty Live:
 
 
 
 Class C
 
8,997
335,768
 Series A
 
4,591
164,633
Netflix, Inc. (a)
 
88,545
48,756,419
Roblox Corp. (a)
 
101,068
3,593,978
Take-Two Interactive Software, Inc. (a)
 
32,444
4,633,328
The Walt Disney Co.
 
375,308
41,696,719
Warner Bros Discovery, Inc. (a)
 
454,011
3,341,521
 
 
 
112,123,298
Interactive Media & Services - 6.4%
 
 
 
Alphabet, Inc.:
 
 
 
 Class A
 
1,205,738
196,270,032
 Class C
 
1,009,484
166,201,446
Meta Platforms, Inc. Class A
 
450,142
193,637,584
Pinterest, Inc. Class A (a)
 
121,783
4,073,641
Snap, Inc. Class A (a)
 
211,076
3,176,694
 
 
 
563,359,397
Media - 0.6%
 
 
 
Charter Communications, Inc. Class A (a)
 
20,205
5,171,268
Comcast Corp. Class A
 
810,725
30,896,730
Fox Corp.:
 
 
 
 Class A
 
49,098
1,522,529
 Class B
 
26,837
769,685
Interpublic Group of Companies, Inc.
 
78,222
2,381,078
Liberty Media Corp. Liberty SiriusXM
 
30,177
726,059
Liberty Media Corp. Liberty SiriusXM Class A
 
15,685
377,381
Omnicom Group, Inc.
 
40,507
3,760,670
The Trade Desk, Inc. (a)
 
91,307
7,564,785
 
 
 
53,170,185
Wireless Telecommunication Services - 0.2%
 
 
 
T-Mobile U.S., Inc.
 
106,851
17,541,729
TOTAL COMMUNICATION SERVICES
 
 
804,872,993
CONSUMER DISCRETIONARY - 10.1%
 
 
 
Automobile Components - 0.0%
 
 
 
Aptiv PLC (a)
 
57,087
4,053,177
Automobiles - 1.4%
 
 
 
Ford Motor Co.
 
798,500
9,701,775
General Motors Co.
 
236,196
10,517,808
Tesla, Inc. (a)
 
566,914
103,903,998
 
 
 
124,123,581
Broadline Retail - 3.8%
 
 
 
Amazon.com, Inc. (a)
 
1,870,280
327,299,000
eBay, Inc.
 
106,186
5,472,826
 
 
 
332,771,826
Distributors - 0.1%
 
 
 
Genuine Parts Co.
 
28,685
4,509,569
LKQ Corp.
 
54,623
2,355,890
Pool Corp.
 
7,925
2,873,050
 
 
 
9,738,509
Hotels, Restaurants & Leisure - 2.1%
 
 
 
Airbnb, Inc. Class A (a)
 
89,117
14,131,283
Booking Holdings, Inc.
 
7,139
24,644,042
Carnival Corp. (a)
 
206,384
3,058,611
Chipotle Mexican Grill, Inc. (a)
 
5,611
17,728,516
Darden Restaurants, Inc.
 
24,431
3,747,960
Domino's Pizza, Inc.
 
7,137
3,777,400
Doordash, Inc. (a)
 
62,202
8,040,231
Draftkings Holdings, Inc. (a)
 
95,395
3,964,616
Expedia Group, Inc. (a)
 
26,755
3,602,026
Hilton Worldwide Holdings, Inc.
 
51,594
10,178,464
Las Vegas Sands Corp.
 
75,570
3,352,285
Marriott International, Inc. Class A
 
50,476
11,918,898
McDonald's Corp.
 
148,409
40,521,593
MGM Resorts International (a)
 
55,814
2,201,304
Royal Caribbean Cruises Ltd. (a)
 
48,268
6,739,661
Starbucks Corp.
 
231,654
20,499,062
Yum! Brands, Inc.
 
57,496
8,121,310
 
 
 
186,227,262
Household Durables - 0.4%
 
 
 
D.R. Horton, Inc.
 
61,101
8,706,281
Garmin Ltd.
 
31,318
4,524,511
Lennar Corp.:
 
 
 
 Class A
 
50,573
7,667,878
 Class B
 
2,612
366,699
NVR, Inc. (a)
 
654
4,865,008
PulteGroup, Inc.
 
43,395
4,835,071
 
 
 
30,965,448
Specialty Retail - 1.9%
 
 
 
AutoZone, Inc. (a)
 
3,538
10,459,743
Best Buy Co., Inc.
 
39,275
2,892,211
Burlington Stores, Inc. (a)
 
13,060
2,350,016
CarMax, Inc. (a)
 
32,268
2,193,256
Lowe's Companies, Inc.
 
117,670
26,827,583
O'Reilly Automotive, Inc. (a)
 
12,087
12,247,274
Ross Stores, Inc.
 
68,885
8,924,052
The Home Depot, Inc.
 
203,636
68,059,224
TJX Companies, Inc.
 
233,188
21,940,659
Tractor Supply Co.
 
22,121
6,040,803
Ulta Beauty, Inc. (a)
 
9,936
4,022,490
Williams-Sonoma, Inc.
 
13,124
3,763,701
 
 
 
169,721,012
Textiles, Apparel & Luxury Goods - 0.4%
 
 
 
Deckers Outdoor Corp. (a)
 
5,252
4,298,604
lululemon athletica, Inc. (a)
 
23,496
8,472,658
NIKE, Inc. Class B
 
249,051
22,977,445
 
 
 
35,748,707
TOTAL CONSUMER DISCRETIONARY
 
 
893,349,522
CONSUMER STAPLES - 5.9%
 
 
 
Beverages - 1.4%
 
 
 
Constellation Brands, Inc. Class A (sub. vtg.)
 
32,913
8,342,129
Keurig Dr. Pepper, Inc.
 
213,097
7,181,369
Monster Beverage Corp. (a)
 
151,141
8,078,486
PepsiCo, Inc.
 
281,217
49,468,882
The Coca-Cola Co.
 
796,140
49,177,568
 
 
 
122,248,434
Consumer Staples Distribution & Retail - 1.8%
 
 
 
Costco Wholesale Corp.
 
90,789
65,631,368
Dollar General Corp.
 
44,908
6,250,745
Dollar Tree, Inc. (a)
 
42,348
5,007,651
Kroger Co.
 
135,420
7,499,560
Sysco Corp.
 
101,856
7,569,938
Target Corp.
 
94,457
15,205,688
Walgreens Boots Alliance, Inc.
 
146,790
2,602,587
Walmart, Inc.
 
875,843
51,981,282
 
 
 
161,748,819
Food Products - 0.8%
 
 
 
Archer Daniels Midland Co.
 
109,131
6,401,624
Bunge Global SA
 
29,751
3,027,462
Conagra Brands, Inc.
 
97,914
3,013,793
General Mills, Inc.
 
116,192
8,186,888
Kellanova
 
54,012
3,125,134
Lamb Weston Holdings, Inc.
 
29,486
2,457,363
McCormick & Co., Inc. (non-vtg.)
 
51,445
3,912,907
Mondelez International, Inc.
 
275,497
19,819,254
The Hershey Co.
 
30,667
5,946,945
The J.M. Smucker Co.
 
21,675
2,489,374
The Kraft Heinz Co.
 
163,120
6,298,063
Tyson Foods, Inc. Class A
 
58,619
3,555,242
 
 
 
68,234,049
Household Products - 1.3%
 
 
 
Church & Dwight Co., Inc.
 
50,413
5,439,059
Colgate-Palmolive Co.
 
168,474
15,486,130
Kimberly-Clark Corp.
 
68,930
9,411,013
Procter & Gamble Co.
 
481,445
78,571,824
The Clorox Co.
 
25,393
3,754,863
 
 
 
112,662,889
Personal Care Products - 0.1%
 
 
 
Estee Lauder Companies, Inc. Class A
 
47,658
6,991,905
Kenvue, Inc.
 
352,620
6,636,308
 
 
 
13,628,213
Tobacco - 0.5%
 
 
 
Altria Group, Inc.
 
360,810
15,807,086
Philip Morris International, Inc.
 
317,641
30,156,837
 
 
 
45,963,923
TOTAL CONSUMER STAPLES
 
 
524,486,327
ENERGY - 4.0%
 
 
 
Energy Equipment & Services - 0.3%
 
 
 
Baker Hughes Co. Class A
 
204,771
6,679,630
Halliburton Co.
 
182,102
6,823,362
Schlumberger Ltd.
 
292,041
13,866,107
 
 
 
27,369,099
Oil, Gas & Consumable Fuels - 3.7%
 
 
 
Cheniere Energy, Inc.
 
48,747
7,693,252
Chevron Corp.
 
354,876
57,230,853
ConocoPhillips Co.
 
241,044
30,279,947
Coterra Energy, Inc.
 
153,888
4,210,376
Devon Energy Corp.
 
131,084
6,708,879
Diamondback Energy, Inc.
 
36,621
7,365,582
EOG Resources, Inc.
 
119,313
15,764,827
Exxon Mobil Corp.
 
812,483
96,092,364
Hess Corp.
 
56,320
8,869,837
Kinder Morgan, Inc.
 
395,651
7,232,500
Marathon Oil Corp.
 
119,798
3,216,576
Marathon Petroleum Corp.
 
75,294
13,682,426
Occidental Petroleum Corp.
 
134,664
8,906,677
ONEOK, Inc.
 
119,190
9,430,313
Ovintiv, Inc.
 
51,804
2,658,581
Phillips 66 Co.
 
87,979
12,599,473
Pioneer Natural Resources Co.
 
47,799
12,873,227
Targa Resources Corp.
 
45,622
5,203,645
The Williams Companies, Inc.
 
248,899
9,547,766
Valero Energy Corp.
 
69,657
11,136,065
 
 
 
330,703,166
TOTAL ENERGY
 
 
358,072,265
FINANCIALS - 13.3%
 
 
 
Banks - 3.4%
 
 
 
Bank of America Corp.
 
1,408,681
52,135,284
Citigroup, Inc.
 
389,379
23,880,614
Citizens Financial Group, Inc.
 
95,437
3,255,356
Fifth Third Bancorp
 
139,350
5,080,701
First Citizens Bancshares, Inc.
 
2,433
4,103,887
Huntington Bancshares, Inc.
 
296,276
3,990,838
JPMorgan Chase & Co.
 
591,515
113,417,086
KeyCorp
 
191,959
2,781,486
M&T Bank Corp.
 
33,992
4,908,105
PNC Financial Services Group, Inc.
 
81,436
12,480,881
Regions Financial Corp.
 
189,022
3,642,454
Truist Financial Corp.
 
272,874
10,246,419
U.S. Bancorp
 
318,559
12,943,052
Wells Fargo & Co.
 
736,342
43,679,807
 
 
 
296,545,970
Capital Markets - 3.0%
 
 
 
Ameriprise Financial, Inc.
 
20,501
8,442,107
Ares Management Corp.
 
34,555
4,598,925
Bank of New York Mellon Corp.
 
155,361
8,776,343
BlackRock, Inc. Class A
 
28,610
21,590,250
Blackstone, Inc.
 
147,182
17,162,893
Cboe Global Markets, Inc.
 
21,597
3,912,297
Charles Schwab Corp.
 
304,497
22,517,553
CME Group, Inc.
 
73,656
15,441,244
Coinbase Global, Inc. (a)
 
34,972
7,131,840
FactSet Research Systems, Inc.
 
7,796
3,250,074
Goldman Sachs Group, Inc.
 
66,724
28,471,798
Intercontinental Exchange, Inc.
 
117,160
15,085,522
KKR & Co. LP
 
135,807
12,639,557
LPL Financial
 
15,275
4,110,961
Moody's Corp.
 
32,201
11,924,996
Morgan Stanley
 
256,325
23,284,563
MSCI, Inc.
 
16,182
7,537,414
NASDAQ, Inc.
 
77,748
4,653,218
Northern Trust Corp.
 
41,975
3,458,320
Raymond James Financial, Inc.
 
38,490
4,695,780
S&P Global, Inc.
 
65,740
27,336,664
State Street Corp.
 
61,773
4,477,925
T. Rowe Price Group, Inc.
 
45,807
5,019,073
 
 
 
265,519,317
Consumer Finance - 0.5%
 
 
 
American Express Co.
 
117,005
27,382,680
Capital One Financial Corp.
 
77,830
11,163,157
Discover Financial Services
 
51,162
6,483,760
Synchrony Financial
 
83,236
3,660,719
 
 
 
48,690,316
Financial Services - 4.3%
 
 
 
Apollo Global Management, Inc.
 
89,417
9,691,014
Berkshire Hathaway, Inc. Class B (a)
 
372,268
147,689,884
Block, Inc. Class A (a)
 
113,262
8,268,126
Corpay, Inc. (a)
 
14,773
4,463,514
Fidelity National Information Services, Inc.
 
121,224
8,233,534
Fiserv, Inc. (a)
 
122,804
18,748,487
Global Payments, Inc.
 
53,278
6,540,940
Jack Henry & Associates, Inc.
 
14,880
2,420,827
MasterCard, Inc. Class A
 
168,807
76,165,718
PayPal Holdings, Inc. (a)
 
219,283
14,893,701
Visa, Inc. Class A
 
323,605
86,923,539
 
 
 
384,039,284
Insurance - 2.1%
 
 
 
AFLAC, Inc.
 
107,707
9,009,691
Allstate Corp.
 
53,709
9,133,753
American International Group, Inc.
 
143,642
10,817,679
Aon PLC
 
40,965
11,552,540
Arch Capital Group Ltd. (a)
 
75,911
7,100,715
Arthur J. Gallagher & Co.
 
44,359
10,410,614
Brown & Brown, Inc.
 
48,336
3,941,317
Chubb Ltd.
 
82,921
20,617,477
Cincinnati Financial Corp.
 
32,121
3,716,078
Everest Re Group Ltd.
 
8,885
3,255,553
Fidelity National Financial, Inc.
 
52,788
2,613,006
Hartford Financial Services Group, Inc.
 
61,075
5,917,557
Markel Group, Inc. (a)
 
2,687
3,918,721
Marsh & McLennan Companies, Inc.
 
100,668
20,076,219
MetLife, Inc.
 
125,600
8,927,648
Principal Financial Group, Inc.
 
44,875
3,551,408
Progressive Corp.
 
119,757
24,939,395
Prudential Financial, Inc.
 
73,860
8,160,053
The Travelers Companies, Inc.
 
46,691
9,905,963
W.R. Berkley Corp.
 
41,489
3,193,408
Willis Towers Watson PLC
 
20,980
5,268,917
 
 
 
186,027,712
TOTAL FINANCIALS
 
 
1,180,822,599
HEALTH CARE - 12.1%
 
 
 
Biotechnology - 1.9%
 
 
 
AbbVie, Inc.
 
361,241
58,752,236
Alnylam Pharmaceuticals, Inc. (a)
 
25,677
3,696,204
Amgen, Inc.
 
109,465
29,986,842
Biogen, Inc. (a)
 
29,647
6,368,769
BioMarin Pharmaceutical, Inc. (a)
 
38,562
3,114,267
Exact Sciences Corp. (a)
 
36,948
2,192,864
Gilead Sciences, Inc.
 
254,941
16,622,153
Moderna, Inc. (a)
 
67,871
7,486,850
Regeneron Pharmaceuticals, Inc. (a)
 
21,616
19,252,507
Vertex Pharmaceuticals, Inc. (a)
 
52,727
20,711,693
 
 
 
168,184,385
Health Care Equipment & Supplies - 2.4%
 
 
 
Abbott Laboratories
 
355,210
37,641,604
Align Technology, Inc. (a)
 
14,573
4,115,124
Baxter International, Inc.
 
103,903
4,194,564
Becton, Dickinson & Co.
 
59,112
13,867,675
Boston Scientific Corp. (a)
 
299,751
21,543,104
DexCom, Inc. (a)
 
78,878
10,048,268
Edwards Lifesciences Corp. (a)
 
124,093
10,506,954
GE Healthcare Technologies, Inc.
 
86,647
6,605,967
Hologic, Inc. (a)
 
48,031
3,639,309
IDEXX Laboratories, Inc. (a)
 
16,993
8,373,471
Insulet Corp. (a)
 
14,262
2,452,208
Intuitive Surgical, Inc. (a)
 
72,088
26,717,255
Medtronic PLC
 
272,057
21,829,854
ResMed, Inc.
 
30,095
6,440,029
STERIS PLC
 
20,219
4,135,999
Stryker Corp.
 
69,188
23,281,762
The Cooper Companies, Inc.
 
40,671
3,622,159
Zimmer Biomet Holdings, Inc.
 
42,759
5,143,053
 
 
 
214,158,359
Health Care Providers & Services - 2.5%
 
 
 
Cardinal Health, Inc.
 
49,766
5,127,889
Cencora, Inc.
 
33,876
8,098,058
Centene Corp. (a)
 
109,355
7,989,476
Cigna Group
 
59,848
21,368,130
CVS Health Corp.
 
257,482
17,434,106
Elevance Health, Inc.
 
48,074
25,410,955
HCA Holdings, Inc.
 
40,525
12,555,456
Humana, Inc.
 
25,007
7,554,365
Laboratory Corp. of America Holdings
 
17,373
3,498,401
McKesson Corp.
 
26,887
14,443,965
Molina Healthcare, Inc. (a)
 
11,867
4,059,701
Quest Diagnostics, Inc.
 
22,739
3,142,075
UnitedHealth Group, Inc.
 
189,245
91,537,807
 
 
 
222,220,384
Health Care Technology - 0.1%
 
 
 
Veeva Systems, Inc. Class A (a)
 
29,979
5,952,630
Life Sciences Tools & Services - 1.4%
 
 
 
Agilent Technologies, Inc.
 
59,962
8,217,192
Avantor, Inc. (a)
 
138,450
3,354,644
Bio-Techne Corp.
 
32,136
2,031,317
Charles River Laboratories International, Inc. (a)
 
10,477
2,399,233
Danaher Corp.
 
134,563
33,185,927
Illumina, Inc. (a)
 
32,492
3,998,141
IQVIA Holdings, Inc. (a)
 
37,343
8,654,987
Mettler-Toledo International, Inc. (a)
 
4,395
5,404,532
Revvity, Inc.
 
25,197
2,581,937
Thermo Fisher Scientific, Inc.
 
79,057
44,961,297
Waters Corp. (a)
 
12,100
3,739,384
West Pharmaceutical Services, Inc.
 
15,139
5,411,890
 
 
 
123,940,481
Pharmaceuticals - 3.8%
 
 
 
Bristol-Myers Squibb Co.
 
416,320
18,293,101
Eli Lilly & Co.
 
163,156
127,441,152
Johnson & Johnson
 
492,541
71,216,503
Merck & Co., Inc.
 
518,477
66,997,598
Pfizer, Inc.
 
1,155,284
29,598,376
Royalty Pharma PLC
 
78,491
2,174,201
Viatris, Inc.
 
245,894
2,844,994
Zoetis, Inc. Class A
 
93,937
14,958,528
 
 
 
333,524,453
TOTAL HEALTH CARE
 
 
1,067,980,692
INDUSTRIALS - 8.7%
 
 
 
Aerospace & Defense - 1.9%
 
 
 
Axon Enterprise, Inc. (a)
 
14,412
4,520,468
General Dynamics Corp.
 
46,454
13,336,479
General Electric Co.
 
222,680
36,034,078
HEICO Corp.
 
8,181
1,696,739
HEICO Corp. Class A
 
15,528
2,575,319
Howmet Aerospace, Inc.
 
80,034
5,342,270
L3Harris Technologies, Inc.
 
38,782
8,301,287
Lockheed Martin Corp.
 
44,004
20,458,780
Northrop Grumman Corp.
 
28,857
13,996,511
RTX Corp.
 
271,480
27,560,650
Textron, Inc.
 
40,103
3,392,313
The Boeing Co. (a)
 
117,346
19,695,353
TransDigm Group, Inc.
 
11,378
14,200,085
 
 
 
171,110,332
Air Freight & Logistics - 0.4%
 
 
 
Expeditors International of Washington, Inc.
 
29,756
3,312,140
FedEx Corp.
 
47,038
12,313,608
United Parcel Service, Inc. Class B
 
147,980
21,824,090
 
 
 
37,449,838
Building Products - 0.5%
 
 
 
Builders FirstSource, Inc. (a)
 
25,235
4,613,463
Carlisle Companies, Inc.
 
9,935
3,857,264
Carrier Global Corp.
 
170,941
10,511,162
Johnson Controls International PLC
 
139,435
9,073,035
Masco Corp.
 
44,998
3,080,113
Trane Technologies PLC
 
46,559
14,775,033
 
 
 
45,910,070
Commercial Services & Supplies - 0.6%
 
 
 
Cintas Corp.
 
17,630
11,606,534
Copart, Inc.
 
178,781
9,709,596
RB Global, Inc.
 
37,382
2,675,804
Republic Services, Inc.
 
41,844
8,021,495
Veralto Corp.
 
44,867
4,203,141
Waste Management, Inc.
 
74,993
15,600,044
 
 
 
51,816,614
Construction & Engineering - 0.1%
 
 
 
Quanta Services, Inc.
 
29,726
7,685,955
Electrical Equipment - 0.8%
 
 
 
AMETEK, Inc.
 
47,223
8,247,969
Eaton Corp. PLC
 
81,700
26,001,842
Emerson Electric Co.
 
116,972
12,607,242
GE Vernova LLC
 
55,669
8,556,882
Hubbell, Inc. Class B
 
10,972
4,065,345
Rockwell Automation, Inc.
 
23,446
6,352,928
Vertiv Holdings Co.
 
71,803
6,677,679
 
 
 
72,509,887
Ground Transportation - 1.0%
 
 
 
CSX Corp.
 
404,302
13,430,912
J.B. Hunt Transport Services, Inc.
 
16,717
2,717,683
Norfolk Southern Corp.
 
46,215
10,644,239
Old Dominion Freight Lines, Inc.
 
36,612
6,652,767
Uber Technologies, Inc. (a)
 
421,048
27,902,851
Union Pacific Corp.
 
124,762
29,588,556
 
 
 
90,937,008
Industrial Conglomerates - 0.4%
 
 
 
3M Co.
 
113,085
10,913,833
Honeywell International, Inc.
 
134,885
25,996,386
 
 
 
36,910,219
Machinery - 1.7%
 
 
 
Caterpillar, Inc.
 
104,161
34,849,146
Cummins, Inc.
 
27,883
7,876,669
Deere & Co.
 
53,277
20,853,151
Dover Corp.
 
28,621
5,131,745
Fortive Corp.
 
71,749
5,400,547
IDEX Corp.
 
15,475
3,411,619
Illinois Tool Works, Inc.
 
55,630
13,579,839
Ingersoll Rand, Inc.
 
82,820
7,728,762
Otis Worldwide Corp.
 
82,950
7,565,040
PACCAR, Inc.
 
107,021
11,355,998
Parker Hannifin Corp.
 
26,273
14,316,420
Stanley Black & Decker, Inc.
 
31,423
2,872,062
Westinghouse Air Brake Tech Co.
 
36,656
5,904,548
Xylem, Inc.
 
49,323
6,446,516
 
 
 
147,292,062
Passenger Airlines - 0.2%
 
 
 
Delta Air Lines, Inc.
 
131,010
6,559,671
Southwest Airlines Co.
 
122,103
3,167,352
United Airlines Holdings, Inc. (a)
 
67,119
3,453,944
 
 
 
13,180,967
Professional Services - 0.7%
 
 
 
Automatic Data Processing, Inc.
 
84,047
20,330,129
Booz Allen Hamilton Holding Corp. Class A
 
26,546
3,920,048
Broadridge Financial Solutions, Inc.
 
24,092
4,659,634
Equifax, Inc.
 
25,226
5,554,513
Jacobs Solutions, Inc.
 
25,705
3,689,439
Leidos Holdings, Inc.
 
28,133
3,944,809
Paychex, Inc.
 
65,518
7,784,194
SS&C Technologies Holdings, Inc.
 
44,153
2,732,629
TransUnion
 
39,704
2,898,392
Verisk Analytics, Inc.
 
29,663
6,465,347
 
 
 
61,979,134
Trading Companies & Distributors - 0.4%
 
 
 
Fastenal Co.
 
117,077
7,954,211
Ferguson PLC
 
41,735
8,760,177
United Rentals, Inc.
 
13,748
9,183,527
W.W. Grainger, Inc.
 
9,038
8,327,161
 
 
 
34,225,076
TOTAL INDUSTRIALS
 
 
771,007,162
INFORMATION TECHNOLOGY - 29.8%
 
 
 
Communications Equipment - 0.8%
 
 
 
Arista Networks, Inc. (a)
 
51,559
13,227,977
Cisco Systems, Inc.
 
831,415
39,059,877
F5, Inc. (a)
 
12,019
1,986,861
Motorola Solutions, Inc.
 
33,960
11,517,534
 
 
 
65,792,249
Electronic Equipment, Instruments & Components - 0.6%
 
 
 
Amphenol Corp. Class A
 
122,728
14,821,861
CDW Corp.
 
27,406
6,628,415
Corning, Inc.
 
157,084
5,243,464
Jabil, Inc.
 
26,121
3,065,561
Keysight Technologies, Inc. (a)
 
35,734
5,286,488
TE Connectivity Ltd.
 
63,178
8,938,423
Teledyne Technologies, Inc. (a)
 
9,653
3,682,426
Trimble, Inc. (a)
 
50,959
3,061,107
Zebra Technologies Corp. Class A (a)
 
10,522
3,309,800
 
 
 
54,037,545
IT Services - 1.4%
 
 
 
Accenture PLC Class A
 
128,284
38,601,938
Akamai Technologies, Inc. (a)
 
30,887
3,117,425
Cloudflare, Inc. (a)
 
60,989
5,330,439
Cognizant Technology Solutions Corp. Class A
 
101,877
6,691,281
EPAM Systems, Inc. (a)
 
11,824
2,781,714
Gartner, Inc. (a)
 
15,948
6,579,985
GoDaddy, Inc. (a)
 
28,814
3,526,257
IBM Corp.
 
187,215
31,115,133
MongoDB, Inc. Class A (a)
 
14,768
5,392,978
Okta, Inc. (a)
 
32,377
3,010,413
Snowflake, Inc. (a)
 
67,376
10,456,755
Twilio, Inc. Class A (a)
 
37,008
2,216,039
VeriSign, Inc. (a)
 
18,042
3,057,758
 
 
 
121,878,115
Semiconductors & Semiconductor Equipment - 10.1%
 
 
 
Advanced Micro Devices, Inc. (a)
 
330,599
52,360,270
Analog Devices, Inc.
 
101,449
20,351,684
Applied Materials, Inc.
 
170,244
33,818,971
Broadcom, Inc.
 
90,037
117,072,410
Enphase Energy, Inc. (a)
 
27,808
3,024,398
Entegris, Inc.
 
30,721
4,083,435
First Solar, Inc. (a)
 
21,860
3,853,918
Intel Corp.
 
865,067
26,358,591
KLA Corp.
 
27,669
19,071,965
Lam Research Corp.
 
26,824
23,991,654
Marvell Technology, Inc.
 
176,879
11,658,095
Microchip Technology, Inc.
 
110,564
10,169,677
Micron Technology, Inc.
 
225,865
25,513,710
Monolithic Power Systems, Inc.
 
9,827
6,577,506
NVIDIA Corp.
 
505,376
436,654,972
NXP Semiconductors NV
 
52,739
13,511,204
ON Semiconductor Corp. (a)
 
87,432
6,134,229
Qorvo, Inc. (a)
 
19,735
2,305,837
Qualcomm, Inc.
 
228,338
37,869,857
Skyworks Solutions, Inc.
 
32,777
3,493,700
Teradyne, Inc.
 
31,299
3,640,700
Texas Instruments, Inc.
 
186,043
32,821,706
 
 
 
894,338,489
Software - 10.8%
 
 
 
Adobe, Inc. (a)
 
92,482
42,803,444
ANSYS, Inc. (a)
 
17,784
5,777,666
AppLovin Corp. (a)
 
37,175
2,623,440
Atlassian Corp. PLC (a)(b)
 
32,198
5,547,715
Autodesk, Inc. (a)
 
43,768
9,316,019
Cadence Design Systems, Inc. (a)
 
55,666
15,343,220
Crowdstrike Holdings, Inc. (a)
 
46,575
13,625,051
Datadog, Inc. Class A (a)
 
61,826
7,759,163
DocuSign, Inc. (a)
 
41,658
2,357,843
Fair Isaac Corp. (a)
 
5,085
5,762,983
Fortinet, Inc. (a)
 
130,409
8,239,241
Gen Digital, Inc.
 
114,484
2,305,708
HubSpot, Inc. (a)
 
10,298
6,228,951
Intuit, Inc.
 
57,278
35,834,262
Microsoft Corp.
 
1,520,314
591,903,844
MicroStrategy, Inc. Class A (a)(b)
 
3,049
3,247,276
Oracle Corp.
 
326,220
37,107,525
Palantir Technologies, Inc. (a)
 
393,780
8,651,347
Palo Alto Networks, Inc. (a)
 
64,512
18,765,896
PTC, Inc. (a)
 
24,466
4,341,247
Roper Technologies, Inc.
 
21,859
11,180,004
Salesforce, Inc.
 
198,059
53,265,987
ServiceNow, Inc. (a)
 
41,945
29,081,727
Synopsys, Inc. (a)
 
31,207
16,558,122
Tyler Technologies, Inc. (a)
 
8,619
3,978,099
Workday, Inc. Class A (a)
 
42,764
10,465,634
Zoom Video Communications, Inc. Class A (a)
 
52,782
3,224,980
Zscaler, Inc. (a)
 
18,225
3,151,832
 
 
 
958,448,226
Technology Hardware, Storage & Peripherals - 6.1%
 
 
 
Apple, Inc.
 
2,969,928
505,867,836
Dell Technologies, Inc.
 
54,588
6,803,848
Hewlett Packard Enterprise Co.
 
265,976
4,521,592
HP, Inc.
 
178,394
5,011,087
NetApp, Inc.
 
42,154
4,308,560
Seagate Technology Holdings PLC
 
39,882
3,426,263
Super Micro Computer, Inc. (a)
 
10,302
8,847,358
Western Digital Corp. (a)
 
66,341
4,698,933
 
 
 
543,485,477
TOTAL INFORMATION TECHNOLOGY
 
 
2,637,980,101
MATERIALS - 2.3%
 
 
 
Chemicals - 1.5%
 
 
 
Air Products & Chemicals, Inc.
 
45,483
10,749,452
Albemarle Corp. (b)
 
24,058
2,894,418
Celanese Corp. Class A
 
20,507
3,150,080
CF Industries Holdings, Inc.
 
39,126
3,089,780
Corteva, Inc.
 
143,587
7,772,364
Dow, Inc.
 
143,681
8,175,449
DuPont de Nemours, Inc.
 
88,001
6,380,073
Eastman Chemical Co.
 
23,960
2,262,782
Ecolab, Inc.
 
51,923
11,742,386
International Flavors & Fragrances, Inc.
 
52,227
4,421,016
Linde PLC
 
99,211
43,748,083
LyondellBasell Industries NV Class A
 
52,366
5,235,029
PPG Industries, Inc.
 
48,239
6,222,831
Sherwin-Williams Co.
 
48,181
14,435,509
The Mosaic Co.
 
66,883
2,099,457
 
 
 
132,378,709
Construction Materials - 0.2%
 
 
 
Martin Marietta Materials, Inc.
 
12,646
7,424,087
Vulcan Materials Co.
 
27,186
7,003,929
 
 
 
14,428,016
Containers & Packaging - 0.2%
 
 
 
Amcor PLC
 
295,050
2,637,747
Avery Dennison Corp.
 
16,481
3,580,992
Ball Corp.
 
64,517
4,488,448
International Paper Co.
 
70,654
2,468,651
Packaging Corp. of America
 
18,212
3,150,312
 
 
 
16,326,150
Metals & Mining - 0.4%
 
 
 
Freeport-McMoRan, Inc.
 
293,395
14,652,146
Newmont Corp.
 
235,803
9,583,034
Nucor Corp.
 
50,299
8,476,890
Reliance, Inc.
 
11,760
3,348,307
Steel Dynamics, Inc.
 
31,120
4,049,334
 
 
 
40,109,711
TOTAL MATERIALS
 
 
203,242,586
REAL ESTATE - 2.1%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 1.9%
 
 
 
Alexandria Real Estate Equities, Inc.
 
32,214
3,732,636
American Tower Corp.
 
95,378
16,363,050
AvalonBay Communities, Inc.
 
29,021
5,501,511
Crown Castle, Inc.
 
88,732
8,321,287
Digital Realty Trust, Inc.
 
61,965
8,599,503
Equinix, Inc.
 
19,209
13,659,712
Equity Residential (SBI)
 
70,614
4,547,542
Essex Property Trust, Inc.
 
13,147
3,237,449
Extra Space Storage, Inc.
 
43,226
5,804,387
Gaming & Leisure Properties
 
54,540
2,330,494
Healthpeak Properties, Inc.
 
145,162
2,701,465
Host Hotels & Resorts, Inc.
 
144,630
2,729,168
Invitation Homes, Inc.
 
117,680
4,024,656
Iron Mountain, Inc.
 
59,741
4,631,122
Mid-America Apartment Communities, Inc.
 
23,906
3,107,780
Prologis, Inc.
 
189,045
19,292,042
Public Storage
 
32,376
8,399,953
Realty Income Corp.
 
170,152
9,109,938
SBA Communications Corp. Class A
 
22,073
4,108,227
Simon Property Group, Inc.
 
66,680
9,370,540
Sun Communities, Inc.
 
25,492
2,837,769
UDR, Inc.
 
61,848
2,355,172
Ventas, Inc.
 
82,320
3,645,130
VICI Properties, Inc.
 
211,652
6,042,665
Welltower, Inc.
 
113,241
10,789,602
Weyerhaeuser Co.
 
149,288
4,504,019
WP Carey, Inc.
 
44,650
2,448,606
 
 
 
172,195,425
Real Estate Management & Development - 0.2%
 
 
 
CBRE Group, Inc. (a)
 
60,841
5,286,474
CoStar Group, Inc. (a)
 
83,552
7,647,515
 
 
 
12,933,989
TOTAL REAL ESTATE
 
 
185,129,414
UTILITIES - 2.3%
 
 
 
Electric Utilities - 1.5%
 
 
 
Alliant Energy Corp.
 
52,096
2,594,381
American Electric Power Co., Inc.
 
107,602
9,257,000
Constellation Energy Corp.
 
65,348
12,150,807
Duke Energy Corp.
 
157,761
15,501,596
Edison International
 
78,490
5,577,499
Entergy Corp.
 
43,276
4,616,251
Evergy, Inc.
 
46,914
2,460,639
Eversource Energy
 
71,476
4,332,875
Exelon Corp.
 
203,679
7,654,257
FirstEnergy Corp.
 
105,682
4,051,848
NextEra Energy, Inc.
 
419,795
28,113,671
PG&E Corp.
 
436,558
7,469,507
PPL Corp.
 
150,842
4,142,121
Southern Co.
 
223,157
16,402,040
Xcel Energy, Inc.
 
112,907
6,066,493
 
 
 
130,390,985
Gas Utilities - 0.0%
 
 
 
Atmos Energy Corp.
 
30,866
3,639,101
Independent Power and Renewable Electricity Producers - 0.1%
 
 
 
The AES Corp.
 
136,809
2,448,881
Vistra Corp.
 
68,770
5,215,517
 
 
 
7,664,398
Multi-Utilities - 0.6%
 
 
 
Ameren Corp.
 
53,804
3,974,501
CenterPoint Energy, Inc.
 
129,172
3,764,072
CMS Energy Corp.
 
60,253
3,651,934
Consolidated Edison, Inc.
 
70,638
6,668,227
Dominion Energy, Inc.
 
171,213
8,728,439
DTE Energy Co.
 
42,243
4,660,248
Public Service Enterprise Group, Inc.
 
101,965
7,043,742
Sempra
 
128,766
9,223,509
WEC Energy Group, Inc.
 
64,543
5,333,834
 
 
 
53,048,506
Water Utilities - 0.1%
 
 
 
American Water Works Co., Inc.
 
39,837
4,872,862
TOTAL UTILITIES
 
 
199,615,852
 
TOTAL COMMON STOCKS
 (Cost $6,579,423,262)
 
 
 
8,826,559,513
 
 
 
 
U.S. Treasury Obligations - 0.0%
 
 
Principal
Amount (c)
 
Value ($)
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (d)
 
 (Cost $797,440)
 
 
800,000
797,419
 
 
 
 
Money Market Funds - 0.6%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (e)
 
41,424,528
41,432,813
Fidelity Securities Lending Cash Central Fund 5.39% (e)(f)
 
12,500,218
12,501,468
 
TOTAL MONEY MARKET FUNDS
 (Cost $53,934,281)
 
 
53,934,281
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.3%
 (Cost $6,634,154,983)
 
 
 
8,881,291,213
NET OTHER ASSETS (LIABILITIES) - (0.3)%  
(29,745,051)
NET ASSETS - 100.0%
8,851,546,162
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
CME E-mini S&P 500 Index Contracts (United States)
92
Jun 2024
23,308,200
125,337
125,337
 
 
 
 
 
 
The notional amount of futures purchased as a percentage of Net Assets is 0.3%
 
 
Legend
 
(a)
Non-income producing
 
(b)
Security or a portion of the security is on loan at period end.
 
(c)
Amount is stated in United States dollars unless otherwise noted.
 
(d)
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 $797,419.
 
(e)
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.
 
(f)
Investment made with cash collateral received from securities on loan.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
28,139,519
719,494,962
706,200,436
779,707
(1,232)
-
41,432,813
0.1%
Fidelity Securities Lending Cash Central Fund 5.39%
10,556,343
52,479,766
50,534,641
19,562
-
-
12,501,468
0.0%
Total
38,695,862
771,974,728
756,735,077
799,269
(1,232)
-
53,934,281
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
804,872,993
804,872,993
-
-
Consumer Discretionary
893,349,522
893,349,522
-
-
Consumer Staples
524,486,327
524,486,327
-
-
Energy
358,072,265
358,072,265
-
-
Financials
1,180,822,599
1,180,822,599
-
-
Health Care
1,067,980,692
1,067,980,692
-
-
Industrials
771,007,162
771,007,162
-
-
Information Technology
2,637,980,101
2,637,980,101
-
-
Materials
203,242,586
203,242,586
-
-
Real Estate
185,129,414
185,129,414
-
-
Utilities
199,615,852
199,615,852
-
-
 U.S. Government and Government Agency Obligations
797,419
-
797,419
-
  Money Market Funds
53,934,281
53,934,281
-
-
 Total Investments in Securities:
8,881,291,213
8,880,493,794
797,419
-
 Derivative Instruments:
 Assets
 
 
 
 
Futures Contracts
125,337
125,337
-
-
  Total Assets
125,337
125,337
-
-
 Total Derivative Instruments:
125,337
125,337
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
125,337
0
Total Equity Risk
125,337
0
Total Value of Derivatives
125,337
0
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Fidelity ZERO® Large Cap Index Fund
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  (including  securities loaned of $11,314,061) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $6,580,220,702)
$
8,827,356,932
 
 
Fidelity Central Funds (cost $53,934,281)
53,934,281
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $6,634,154,983)
 
 
$
8,881,291,213
Segregated cash with brokers for derivative instruments
 
 
13,093
Cash
 
 
3,963
Receivable for fund shares sold
 
 
10,701,237
Dividends receivable
 
 
5,145,065
Distributions receivable from Fidelity Central Funds
 
 
136,261
Other receivables
 
 
22
  Total assets
 
 
8,897,290,854
Liabilities
 
 
 
 
Payable for investments purchased
$
30,091,946
 
 
Payable for fund shares redeemed
2,883,687
 
 
Payable for daily variation margin on futures contracts
267,359
 
 
Collateral on securities loaned
12,501,700
 
 
  Total liabilities
 
 
 
45,744,692
Net Assets  
 
 
$
8,851,546,162
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
6,697,617,291
Total accumulated earnings (loss)
 
 
 
2,153,928,871
Net Assets
 
 
$
8,851,546,162
Net Asset Value, offering price and redemption price per share ($8,851,546,162 ÷ 495,416,607 shares)
 
 
$
17.87
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
58,512,083
Interest  
 
 
34,795
Income from Fidelity Central Funds (including $19,562 from security lending)
 
 
799,269
 Total income
 
 
 
59,346,147
Expenses
 
 
 
 
Independent trustees' fees and expenses
$
18,710
 
 
 Total expenses before reductions
 
18,710
 
 
 Expense reductions
 
(9,484)
 
 
 Total expenses after reductions
 
 
 
9,226
Net Investment income (loss)
 
 
 
59,336,921
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
(22,996,974)
 
 
   Fidelity Central Funds
 
(1,232)
 
 
 Foreign currency transactions
 
(3,425)
 
 
 Futures contracts
 
3,152,553
 
 
Total net realized gain (loss)
 
 
 
(19,849,078)
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
1,364,920,326
 
 
 Futures contracts
 
503,455
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
1,365,423,781
Net gain (loss)
 
 
 
1,345,574,703
Net increase (decrease) in net assets resulting from operations
 
 
$
1,404,911,624
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
59,336,921
$
96,926,909
Net realized gain (loss)
 
(19,849,078)
 
 
(39,884,867)
 
Change in net unrealized appreciation (depreciation)
 
1,365,423,781
 
499,079,098
 
Net increase (decrease) in net assets resulting from operations
 
1,404,911,624
 
 
556,121,140
 
Distributions to shareholders
 
(99,928,756)
 
 
(80,225,687)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
1,577,806,295
 
1,460,240,659
  Reinvestment of distributions
 
87,829,389
 
 
71,732,498
 
Cost of shares redeemed
 
(552,212,451)
 
(881,002,253)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
1,113,423,233
 
 
650,970,904
 
Total increase (decrease) in net assets
 
2,418,406,101
 
 
1,126,866,357
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
6,433,140,061
 
5,306,273,704
 
End of period
$
8,851,546,162
$
6,433,140,061
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
90,884,398
 
98,505,608
  Issued in reinvestment of distributions
 
5,267,475
 
 
5,333,271
 
Redeemed
 
(31,886,926)
 
(60,048,756)
Net increase (decrease)
 
64,264,947
 
43,790,123
 
 
 
 
 
 
Financial Highlights
 
Fidelity ZERO® Large Cap Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 
 
2020 
 
2019   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
14.92
$
13.70
$
16.55
$
11.73
$
10.65
$
9.35
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.13
 
.24
 
.22
 
.20
 
.20
 
.19
     Net realized and unrealized gain (loss)
 
3.05
 
1.19
 
(2.91)
 
4.78
 
1.01
 
1.16
  Total from investment operations
 
3.18  
 
1.43  
 
(2.69)  
 
4.98  
 
1.21
 
1.35
  Distributions from net investment income
 
(.23)
 
(.21)
 
(.16)
 
(.16)
 
(.13)
 
(.04)
  Distributions from net realized gain
 
-
 
-
 
-
 
-
 
-
 
(.01)
     Total distributions
 
(.23)
 
(.21)
 
(.16)
 
(.16)
 
(.13)
 
(.05)
  Net asset value, end of period
$
17.87
$
14.92
$
13.70
$
16.55
$
11.73
$
10.65
 Total Return C,D
 
21.40
%
 
 
10.57%
 
(16.39)%
 
42.81%
 
11.45%
 
14.50%
 Ratios to Average Net Assets B,E,F
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions G
 
-% H
 
-%
 
-%
 
-%
 
-%
 
-%
    Expenses net of fee waivers, if any G
 
-
% H
 
 
-%
 
-%
 
-%
 
-%
 
-%
    Expenses net of all reductions G
 
-% H
 
-%
 
-%
 
-%
 
-%
 
-%
    Net investment income (loss)
 
1.48% H
 
1.61%
 
1.48%
 
1.36%
 
1.80%
 
1.91%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
8,851,546
$
6,433,140
$
5,306,274
$
5,103,057
$
2,375,916
$
1,162,779
    Portfolio turnover rate I
 
3
% H
 
 
2%
 
3%
 
5% J
 
5%
 
3%
 
ACalculated based on average shares outstanding during the period.
 
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
CTotal returns for periods of less than one year are not annualized.
 
DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
GAmount represents less than .005%.
 
HAnnualized.
 
IAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
JPortfolio turnover rate excludes securities received or delivered in-kind.
 
 
Top Holdings (% of Fund's net assets)
 
Microsoft Corp.
6.0
 
Apple, Inc.
5.1
 
NVIDIA Corp.
4.4
 
Amazon.com, Inc.
3.3
 
Alphabet, Inc. Class A
2.0
 
Meta Platforms, Inc. Class A
2.0
 
Alphabet, Inc. Class C
1.7
 
Berkshire Hathaway, Inc. Class B
1.5
 
Eli Lilly & Co.
1.3
 
Broadcom, Inc.
1.2
 
 
28.5
 
 
Market Sectors (% of Fund's net assets)
 
Information Technology
27.7
 
Financials
13.7
 
Health Care
12.1
 
Consumer Discretionary
10.4
 
Industrials
10.0
 
Communication Services
8.4
 
Consumer Staples
5.7
 
Energy
4.2
 
Materials
2.6
 
Real Estate
2.6
 
Utilities
2.3
 
 
Asset Allocation (% of Fund's net assets)
Futures - 0.2%
 
Fidelity ZERO® Total Market Index Fund
Common Stocks - 99.7%
 
 
Shares
Value ($)
 
COMMUNICATION SERVICES - 8.4%
 
 
 
Diversified Telecommunication Services - 0.6%
 
 
 
Anterix, Inc. (a)
 
7,376
232,492
AST SpaceMobile, Inc. (a)(b)
 
51,673
114,197
AT&T, Inc.
 
2,900,928
48,996,674
ATN International, Inc.
 
4,183
79,812
Bandwidth, Inc. (a)
 
9,193
167,313
Cogent Communications Group, Inc.
 
16,965
1,088,814
Consolidated Communications Holdings, Inc. (a)
 
29,894
129,142
Frontier Communications Parent, Inc. (a)(b)
 
89,077
2,061,242
GCI Liberty, Inc. Class A (Escrow) (c)(h)
 
19,818
0
Globalstar, Inc. (a)(b)
 
293,721
378,900
IDT Corp. Class B
 
8,076
287,021
Iridium Communications, Inc.
 
49,762
1,532,172
Liberty Global Ltd.:
 
 
 
 Class A
 
56,488
897,877
 Class C (b)
 
95,380
1,561,371
Liberty Latin America Ltd.:
 
 
 
 Class A (a)
 
21,261
160,521
 Class C (a)
 
45,488
342,980
Lumen Technologies, Inc. (a)(b)
 
409,402
487,188
Shenandoah Telecommunications Co.
 
20,029
256,772
Verizon Communications, Inc.
 
1,705,120
67,335,189
 
 
 
126,109,677
Entertainment - 1.2%
 
 
 
AMC Entertainment Holdings, Inc. Class A (b)
 
106,109
310,899
Atlanta Braves Holdings, Inc.
 
15,368
575,224
Atlanta Braves Holdings, Inc. Class A (b)
 
4,437
178,989
Cinemark Holdings, Inc. (a)(b)
 
42,533
729,016
Electronic Arts, Inc.
 
98,800
12,529,816
Endeavor Group Holdings, Inc.
 
74,935
1,979,033
Eventbrite, Inc. (a)
 
34,216
180,660
Liberty Media Corp. Liberty Formula One:
 
 
 
 Class A
 
12,400
772,148
 Class C
 
82,535
5,774,974
Liberty Media Corp. Liberty Live:
 
 
 
 Class C
 
19,789
738,525
 Series A
 
7,085
254,068
Lions Gate Entertainment Corp.:
 
 
 
 Class A (a)(b)
 
27,625
278,736
 Class B (a)
 
49,870
470,274
Live Nation Entertainment, Inc. (a)
 
57,962
5,153,401
Madison Square Garden Entertainment Corp.
 
16,790
657,329
Madison Square Garden Sports Corp. (a)
 
6,708
1,247,151
Marcus Corp. (b)
 
9,550
124,532
Netflix, Inc. (a)
 
175,511
96,643,377
Playtika Holding Corp.
 
27,989
202,920
Roblox Corp. (a)
 
201,254
7,156,592
Roku, Inc. Class A (a)
 
50,530
2,913,560
Skillz, Inc. (a)(b)
 
4,989
30,632
Sphere Entertainment Co. (a)
 
10,729
416,929
Take-Two Interactive Software, Inc. (a)
 
64,418
9,199,535
The Walt Disney Co.
 
743,927
82,650,290
TKO Group Holdings, Inc.
 
24,091
2,280,695
Vivid Seats, Inc. Class A (a)
 
25,461
133,925
Warner Bros Discovery, Inc. (a)
 
904,323
6,655,817
Warner Music Group Corp. Class A
 
56,778
1,873,674
 
 
 
242,112,721
Interactive Media & Services - 5.7%
 
 
 
Alphabet, Inc.:
 
 
 
 Class A
 
2,389,957
389,037,200
 Class C
 
2,000,619
329,381,912
Angi, Inc. (a)
 
34,532
72,863
Bumble, Inc. (a)
 
40,283
406,858
CarGurus, Inc. Class A (a)
 
34,832
782,327
Cars.com, Inc. (a)
 
24,860
415,411
EverQuote, Inc. Class A (a)
 
8,476
170,961
fuboTV, Inc. (a)(b)
 
118,402
168,131
IAC, Inc. (a)
 
28,079
1,335,437
Match Group, Inc. (a)
 
109,556
3,376,516
MediaAlpha, Inc. Class A (a)
 
8,046
162,932
Meta Platforms, Inc. Class A
 
892,194
383,795,093
Nextdoor Holdings, Inc. (a)
 
59,959
122,316
Pinterest, Inc. Class A (a)
 
241,445
8,076,335
QuinStreet, Inc. (a)
 
21,104
381,771
Rumble, Inc. (a)(b)
 
30,416
214,737
Shutterstock, Inc. (b)
 
9,662
412,664
Snap, Inc. Class A (a)
 
420,022
6,321,331
TripAdvisor, Inc. (a)
 
43,601
1,148,014
Vimeo, Inc. (a)
 
64,952
233,178
Yelp, Inc. (a)
 
27,493
1,106,318
Ziff Davis, Inc. (a)
 
18,641
934,101
ZipRecruiter, Inc. (a)
 
30,731
315,915
Zoominfo Technologies, Inc. (a)
 
119,430
1,894,160
 
 
 
1,130,266,481
Media - 0.7%
 
 
 
Advantage Solutions, Inc. Class A (a)(b)
 
39,694
169,096
Altice U.S.A., Inc. Class A (a)
 
92,718
178,946
AMC Networks, Inc. Class A (a)
 
12,354
131,199
Boston Omaha Corp. (a)
 
8,406
129,789
Cable One, Inc. (b)
 
1,836
723,109
Cardlytics, Inc. (a)
 
15,853
194,199
Charter Communications, Inc. Class A (a)
 
40,055
10,251,677
Clear Channel Outdoor Holdings, Inc. (a)
 
142,253
197,732
Comcast Corp. Class A
 
1,607,186
61,249,858
E.W. Scripps Co. Class A (a)
 
21,884
82,284
EchoStar Corp. Class A (a)
 
48,408
774,044
Entravision Communication Corp. Class A
 
22,763
47,575
Fox Corp.:
 
 
 
 Class A
 
97,482
3,022,917
 Class B
 
52,096
1,494,113
Gannett Co., Inc. (a)(b)
 
55,156
133,478
Gray Television, Inc.
 
32,224
185,288
iHeartMedia, Inc. (a)
 
38,315
80,462
Integral Ad Science Holding Corp. (a)
 
26,900
257,971
Interpublic Group of Companies, Inc.
 
158,032
4,810,494
John Wiley & Sons, Inc. Class A
 
17,024
639,592
Liberty Broadband Corp.:
 
 
 
 Class A (a)
 
7,735
387,756
 Class C (a)
 
45,133
2,244,464
Liberty Media Corp. Liberty SiriusXM
 
59,106
1,422,090
Liberty Media Corp. Liberty SiriusXM Class A
 
31,012
746,149
Magnite, Inc. (a)
 
49,385
436,070
National CineMedia, Inc. (a)
 
39,168
167,639
News Corp.:
 
 
 
 Class A
 
146,404
3,484,415
 Class B
 
56,226
1,379,786
Nexstar Media Group, Inc. Class A
 
13,007
2,081,900
Omnicom Group, Inc.
 
81,265
7,544,643
Paramount Global:
 
 
 
 Class A (b)
 
13,571
280,784
 Class B
 
173,738
1,978,876
PubMatic, Inc. (a)
 
16,950
380,358
Scholastic Corp.
 
10,641
379,032
Sinclair, Inc. Class A (b)
 
15,063
185,275
Sirius XM Holdings, Inc. (b)
 
263,543
774,816
Stagwell, Inc. (a)(b)
 
43,924
261,348
TechTarget, Inc. (a)
 
10,217
280,968
TEGNA, Inc.
 
79,503
1,084,421
The New York Times Co. Class A
 
67,142
2,889,120
The Trade Desk, Inc. (a)
 
181,182
15,010,929
Thryv Holdings, Inc. (a)
 
12,668
291,491
WideOpenWest, Inc. (a)
 
17,456
62,318
 
 
 
128,508,471
Wireless Telecommunication Services - 0.2%
 
 
 
Gogo, Inc. (a)
 
24,939
225,947
NII Holdings, Inc. (a)(c)
 
11,652
0
Spok Holdings, Inc.
 
8,159
126,057
T-Mobile U.S., Inc.
 
211,341
34,695,852
Telephone & Data Systems, Inc.
 
39,754
622,150
U.S. Cellular Corp. (a)
 
5,663
205,907
 
 
 
35,875,913
TOTAL COMMUNICATION SERVICES
 
 
1,662,873,263
CONSUMER DISCRETIONARY - 10.4%
 
 
 
Automobile Components - 0.2%
 
 
 
Adient PLC (a)
 
36,806
1,099,395
American Axle & Manufacturing Holdings, Inc. (a)
 
47,230
346,668
Aptiv PLC (a)
 
113,453
8,055,163
Autoliv, Inc.
 
29,647
3,551,414
BorgWarner, Inc.
 
92,604
3,034,633
Cooper-Standard Holding, Inc. (a)
 
6,927
106,884
Dana, Inc.
 
52,172
648,498
Dorman Products, Inc. (a)
 
11,472
1,003,226
Fox Factory Holding Corp. (a)
 
17,194
669,190
Garrett Motion, Inc. (a)
 
56,561
540,723
Gentex Corp.
 
94,046
3,225,778
Gentherm, Inc. (a)
 
13,109
662,922
Holley, Inc. (a)
 
18,974
76,275
LCI Industries
 
10,210
1,061,636
Lear Corp.
 
22,988
2,893,500
Luminar Technologies, Inc. (a)(b)
 
106,870
157,099
Mobileye Global, Inc. (a)(b)
 
30,891
851,047
Modine Manufacturing Co. (a)
 
21,026
1,947,638
Patrick Industries, Inc.
 
8,399
877,612
Phinia, Inc.
 
18,819
733,941
QuantumScape Corp. Class A (a)(b)
 
140,320
760,534
Solid Power, Inc. (a)(b)
 
49,690
83,976
Standard Motor Products, Inc.
 
7,533
241,809
Stoneridge, Inc. (a)
 
11,099
166,263
The Goodyear Tire & Rubber Co. (a)
 
113,861
1,361,778
Visteon Corp. (a)
 
11,222
1,241,490
XPEL, Inc. (a)
 
8,497
446,517
 
 
 
35,845,609
Automobiles - 1.3%
 
 
 
Canoo, Inc. (a)(b)
 
19,269
55,495
Ford Motor Co.
 
1,582,536
19,227,812
General Motors Co.
 
467,788
20,830,600
Harley-Davidson, Inc.
 
51,085
1,756,813
Lucid Group, Inc. Class A (a)(b)
 
359,905
917,758
Rivian Automotive, Inc. (a)(b)
 
271,867
2,419,616
Tesla, Inc. (a)
 
1,123,795
205,969,148
Thor Industries, Inc.
 
21,497
2,137,232
Winnebago Industries, Inc.
 
11,795
726,336
 
 
 
254,040,810
Broadline Retail - 3.4%
 
 
 
Amazon.com, Inc. (a)
 
3,706,727
648,677,225
Big Lots, Inc.
 
10,244
36,059
ContextLogic, Inc. (a)(b)
 
7,430
41,237
Dillard's, Inc. Class A (b)
 
1,396
611,434
eBay, Inc.
 
210,901
10,869,838
Etsy, Inc. (a)
 
48,260
3,314,014
Groupon, Inc. (a)(b)
 
9,406
108,733
Kohl's Corp.
 
44,657
1,069,089
Macy's, Inc.
 
110,493
2,036,386
Nordstrom, Inc. (b)
 
39,561
752,055
Ollie's Bargain Outlet Holdings, Inc. (a)
 
24,834
1,816,359
Qurate Retail, Inc. Series A (a)
 
136,952
112,506
 
 
 
669,444,935
Distributors - 0.1%
 
 
 
Genuine Parts Co.
 
56,855
8,938,175
LKQ Corp.
 
109,163
4,708,200
Pool Corp.
 
15,794
5,725,799
 
 
 
19,372,174
Diversified Consumer Services - 0.1%
 
 
 
ADT, Inc.
 
108,738
706,797
Adtalem Global Education, Inc. (a)
 
15,805
784,244
Allurion Technologies, Inc. (b)
 
14,196
28,534
Bright Horizons Family Solutions, Inc. (a)
 
23,349
2,421,525
Carriage Services, Inc.
 
5,124
131,072
Chegg, Inc. (a)
 
41,526
214,689
Coursera, Inc. (a)
 
42,513
434,483
Duolingo, Inc. (a)
 
14,591
3,293,918
European Wax Center, Inc. (a)(b)
 
14,609
171,802
Frontdoor, Inc. (a)
 
32,110
985,456
Graham Holdings Co.
 
1,445
1,013,480
Grand Canyon Education, Inc. (a)
 
11,921
1,549,968
H&R Block, Inc.
 
56,261
2,657,207
Laureate Education, Inc. Class A
 
54,413
788,989
Mister Car Wash, Inc. (a)(b)
 
36,078
241,362
Nerdy, Inc. Class A (a)
 
27,542
71,334
OneSpaWorld Holdings Ltd. (a)
 
35,528
451,916
Perdoceo Education Corp.
 
26,553
485,920
Service Corp. International
 
60,509
4,339,100
Strategic Education, Inc.
 
8,776
1,007,836
Stride, Inc. (a)
 
16,056
1,071,738
Udemy, Inc. (a)
 
35,293
353,636
Universal Technical Institute, Inc. (a)
 
15,010
228,452
WW International, Inc. (a)(b)
 
29,698
53,753
 
 
 
23,487,211
Hotels, Restaurants & Leisure - 2.2%
 
 
 
Accel Entertainment, Inc. (a)
 
22,715
243,959
Airbnb, Inc. Class A (a)
 
176,777
28,031,529
Aramark
 
107,439
3,385,403
Bally's Corp. (a)
 
11,773
154,697
BJ's Restaurants, Inc. (a)
 
9,395
306,183
Bloomin' Brands, Inc.
 
35,037
903,604
Booking Holdings, Inc.
 
14,151
48,849,677
Bowlero Corp. Class A (b)
 
15,261
179,317
Boyd Gaming Corp.
 
27,999
1,498,226
Brinker International, Inc. (a)
 
17,856
957,082
Caesars Entertainment, Inc. (a)
 
89,112
3,191,992
Carnival Corp. (a)
 
410,055
6,077,015
Carrols Restaurant Group, Inc.
 
12,011
114,345
Chipotle Mexican Grill, Inc. (a)
 
11,116
35,122,114
Choice Hotels International, Inc. (b)
 
9,927
1,173,967
Churchill Downs, Inc.
 
27,953
3,605,937
Chuy's Holdings, Inc. (a)(b)
 
7,051
207,722
Cracker Barrel Old Country Store, Inc. (b)
 
8,815
512,945
Darden Restaurants, Inc.
 
48,597
7,455,266
Dave & Buster's Entertainment, Inc. (a)
 
12,988
693,559
Denny's Corp. (a)
 
21,382
171,484
Dine Brands Global, Inc.
 
6,230
274,743
Domino's Pizza, Inc.
 
14,163
7,496,051
Doordash, Inc. (a)
 
123,413
15,952,364
Draftkings Holdings, Inc. (a)
 
189,168
7,861,822
Dutch Bros, Inc. (a)
 
28,050
789,888
El Pollo Loco Holdings, Inc. (a)
 
10,001
85,209
Everi Holdings, Inc. (a)
 
34,556
282,323
Expedia Group, Inc. (a)
 
53,106
7,149,661
First Watch Restaurant Group, Inc. (a)
 
9,731
248,335
Golden Entertainment, Inc.
 
8,492
272,169
Hilton Grand Vacations, Inc. (a)
 
28,758
1,197,483
Hilton Worldwide Holdings, Inc.
 
102,183
20,158,662
Hyatt Hotels Corp. Class A
 
17,830
2,652,926
Jack in the Box, Inc.
 
7,884
449,940
Krispy Kreme, Inc. (b)
 
33,678
426,027
Kura Sushi U.S.A., Inc. Class A (a)
 
2,231
245,588
Las Vegas Sands Corp.
 
150,404
6,671,921
Life Time Group Holdings, Inc. (a)(b)
 
24,025
328,182
Light & Wonder, Inc. Class A (a)
 
36,929
3,296,283
Lindblad Expeditions Holdings (a)
 
15,398
113,021
Marriott International, Inc. Class A
 
99,975
23,607,097
Marriott Vacations Worldwide Corp.
 
13,314
1,279,609
McDonald's Corp.
 
294,007
80,275,671
MGM Resorts International (a)
 
111,698
4,405,369
Monarch Casino & Resort, Inc.
 
5,444
368,940
Norwegian Cruise Line Holdings Ltd. (a)(b)
 
171,505
3,244,875
Papa John's International, Inc.
 
13,205
814,616
Penn Entertainment, Inc. (a)(b)
 
60,049
993,210
Planet Fitness, Inc. (a)
 
34,422
2,059,812
Playa Hotels & Resorts NV (a)
 
43,116
388,044
PlayAGS, Inc. (a)
 
15,146
133,891
Portillo's, Inc. (a)
 
19,473
238,739
Potbelly Corp. (a)
 
9,769
99,546
RCI Hospitality Holdings, Inc.
 
3,497
177,508
Red Robin Gourmet Burgers, Inc. (a)(b)
 
6,198
46,795
Red Rock Resorts, Inc.
 
19,620
1,042,214
Royal Caribbean Cruises Ltd. (a)
 
95,641
13,354,353
Rush Street Interactive, Inc. (a)
 
26,305
168,089
Sabre Corp. (a)
 
152,826
438,611
Shake Shack, Inc. Class A (a)
 
15,183
1,607,121
Six Flags Entertainment Corp. (a)
 
29,297
690,823
Soho House & Co., Inc. Class A (a)(b)
 
14,114
73,534
Starbucks Corp.
 
459,109
40,626,555
Sweetgreen, Inc. Class A (a)(b)
 
36,774
826,312
Target Hospitality Corp. (a)
 
11,074
123,198
Texas Roadhouse, Inc. Class A
 
27,209
4,374,663
The Cheesecake Factory, Inc. (b)
 
18,858
650,978
Travel+Leisure Co.
 
29,130
1,268,320
United Parks & Resorts, Inc. (a)
 
14,439
733,790
Vail Resorts, Inc.
 
15,611
2,956,255
Wendy's Co.
 
66,978
1,338,890
Wingstop, Inc.
 
11,998
4,616,710
Wyndham Hotels & Resorts, Inc.
 
33,438
2,458,027
Wynn Resorts Ltd.
 
38,397
3,519,085
Xponential Fitness, Inc. (a)
 
10,105
128,839
Yum! Brands, Inc.
 
113,717
16,062,526
 
 
 
433,981,236
Household Durables - 0.5%
 
 
 
Beazer Homes U.S.A., Inc. (a)
 
11,527
323,102
Cavco Industries, Inc. (a)
 
3,148
1,146,533
Century Communities, Inc.
 
11,415
905,438
Cricut, Inc.
 
19,649
104,533
D.R. Horton, Inc.
 
121,000
17,241,290
Dream Finders Homes, Inc. (a)(b)
 
9,330
331,215
Ethan Allen Interiors, Inc.
 
9,261
261,531
Garmin Ltd.
 
61,988
8,955,406
GoPro, Inc. Class A (a)
 
50,551
87,453
Green Brick Partners, Inc. (a)
 
10,272
556,023
Helen of Troy Ltd. (a)
 
9,611
891,036
Hovnanian Enterprises, Inc. Class A (a)
 
1,925
284,573
Installed Building Products, Inc.
 
9,456
2,229,063
iRobot Corp. (a)
 
10,355
88,639
KB Home
 
29,672
1,921,559
La-Z-Boy, Inc.
 
17,279
567,442
Landsea Homes Corp. (a)
 
4,499
51,963
Legacy Housing Corp. (a)
 
2,866
58,380
Leggett & Platt, Inc.
 
53,969
975,220
Lennar Corp.:
 
 
 
 Class A
 
100,075
15,173,372
 Class B
 
5,428
762,037
LGI Homes, Inc. (a)
 
8,266
743,361
Lovesac (a)
 
5,816
128,999
M/I Homes, Inc. (a)
 
11,191
1,300,618
Meritage Homes Corp.
 
14,700
2,436,378
Mohawk Industries, Inc. (a)
 
21,305
2,456,893
Newell Brands, Inc.
 
153,571
1,219,354
NVR, Inc. (a)
 
1,300
9,670,505
PulteGroup, Inc.
 
86,515
9,639,501
Purple Innovation, Inc.
 
23,698
36,021
SharkNinja, Inc.
 
19,611
1,260,595
Skyline Champion Corp. (a)
 
21,669
1,624,958
Sonos, Inc. (a)
 
49,936
843,918
Taylor Morrison Home Corp. (a)
 
43,285
2,424,393
Tempur Sealy International, Inc.
 
69,531
3,480,722
Toll Brothers, Inc.
 
42,861
5,105,174
TopBuild Corp. (a)
 
12,908
5,223,480
TRI Pointe Homes, Inc. (a)
 
39,161
1,443,083
Vizio Holding Corp. (a)
 
40,725
431,685
Whirlpool Corp.
 
22,124
2,098,683
Worthington Enterprises, Inc.
 
12,312
703,754
ZAGG, Inc. rights (a)(c)
 
5,004
0
 
 
 
105,187,883
Leisure Products - 0.1%
 
 
 
Acushnet Holdings Corp. (b)
 
12,134
739,931
AMMO, Inc. (a)(b)
 
33,915
86,144
Brunswick Corp.
 
27,755
2,238,163
Clarus Corp.
 
10,505
66,497
Funko, Inc. (a)(b)
 
14,640
89,158
Hasbro, Inc.
 
52,579
3,223,093
JAKKS Pacific, Inc. (a)
 
2,943
55,652
Johnson Outdoors, Inc. Class A (b)
 
2,700
110,727
Malibu Boats, Inc. Class A (a)
 
8,244
280,461
MasterCraft Boat Holdings, Inc. (a)(b)
 
5,659
114,482
Mattel, Inc. (a)
 
142,541
2,611,351
Peloton Interactive, Inc. Class A (a)(b)
 
140,652
437,428
Polaris, Inc.
 
21,408
1,823,105
Smith & Wesson Brands, Inc.
 
18,433
312,808
Sturm, Ruger & Co., Inc.
 
7,147
330,406
Topgolf Callaway Brands Corp. (a)
 
57,670
923,873
Vista Outdoor, Inc. (a)
 
23,447
822,755
YETI Holdings, Inc. (a)(b)
 
35,017
1,250,807
 
 
 
15,516,841
Specialty Retail - 2.0%
 
 
 
1-800-FLOWERS.com, Inc. Class A (a)(b)
 
11,572
104,958
Abercrombie & Fitch Co. Class A (a)
 
20,369
2,475,241
Academy Sports & Outdoors, Inc.
 
29,907
1,743,578
Advance Auto Parts, Inc.
 
23,828
1,738,967
America's Car Mart, Inc. (a)
 
2,352
134,628
American Eagle Outfitters, Inc.
 
74,881
1,816,613
Arhaus, Inc. (b)
 
16,992
215,119
Arko Corp.
 
28,834
123,986
Asbury Automotive Group, Inc. (a)
 
8,296
1,744,151
AutoNation, Inc. (a)
 
10,459
1,685,468
AutoZone, Inc. (a)
 
7,017
20,745,059
Bath & Body Works, Inc.
 
92,333
4,193,765
Best Buy Co., Inc.
 
78,551
5,784,496
Beyond, Inc. (a)
 
18,028
362,904
Boot Barn Holdings, Inc. (a)
 
12,221
1,301,170
Build-A-Bear Workshop, Inc.
 
5,095
153,665
Burlington Stores, Inc. (a)
 
26,081
4,693,015
Caleres, Inc.
 
13,563
499,525
Camping World Holdings, Inc.
 
17,015
344,894
CarMax, Inc. (a)
 
64,739
4,400,310
CarParts.com, Inc. (a)
 
18,372
22,598
Carvana Co. Class A (a)(b)
 
41,736
3,460,749
Chewy, Inc. (a)(b)
 
48,470
726,565
Citi Trends, Inc. (a)(b)
 
3,435
73,646
Designer Brands, Inc. Class A (b)
 
18,042
167,610
Destination XL Group, Inc. (a)
 
21,164
67,936
Dick's Sporting Goods, Inc.
 
23,677
4,757,656
EVgo, Inc. Class A (a)(b)
 
35,998
65,156
Five Below, Inc. (a)
 
22,251
3,256,211
Floor & Decor Holdings, Inc. Class A (a)(b)
 
43,629
4,813,588
Foot Locker, Inc.
 
33,033
688,738
GameStop Corp. Class A (a)(b)
 
107,699
1,194,382
Gap, Inc.
 
86,730
1,779,700
Genesco, Inc. (a)
 
4,324
109,440
Group 1 Automotive, Inc.
 
5,355
1,574,477
GrowGeneration Corp. (a)(b)
 
21,926
65,559
Guess?, Inc. (b)
 
11,144
298,436
Haverty Furniture Companies, Inc.
 
5,364
165,211
Hibbett, Inc.
 
4,821
415,763
J. Jill, Inc. (a)
 
1,972
49,142
Leslie's, Inc. (a)(b)
 
73,106
287,307
Lithia Motors, Inc. Class A (sub. vtg.)
 
11,348
2,886,704
Lowe's Companies, Inc.
 
233,330
53,196,907
MarineMax, Inc. (a)
 
8,211
202,565
Monro, Inc. (b)
 
12,053
328,444
Murphy U.S.A., Inc.
 
7,644
3,163,240
National Vision Holdings, Inc. (a)
 
31,575
550,037
O'Reilly Automotive, Inc. (a)
 
23,964
24,281,763
OneWater Marine, Inc. Class A (a)(b)
 
4,023
83,316
Penske Automotive Group, Inc.
 
7,853
1,200,802
Petco Health & Wellness Co., Inc. (a)(b)
 
30,084
45,126
PetMed Express, Inc. (b)
 
9,038
35,700
Revolve Group, Inc. (a)(b)
 
15,968
317,923
RH (a)
 
6,170
1,524,299
Ross Stores, Inc.
 
136,445
17,676,450
RumbleON, Inc. Class B (a)
 
7,078
36,522
Sally Beauty Holdings, Inc. (a)
 
42,332
459,302
Shoe Carnival, Inc.
 
7,248
242,373
Signet Jewelers Ltd.
 
17,874
1,752,188
Sleep Number Corp. (a)(b)
 
8,514
113,321
Sonic Automotive, Inc. Class A (sub. vtg.)
 
5,923
342,586
Sportsman's Warehouse Holdings, Inc. (a)
 
14,099
45,117
Stitch Fix, Inc. (a)
 
36,307
76,971
The Aaron's Co., Inc.
 
11,389
78,698
The Buckle, Inc.
 
11,915
445,502
The Children's Place, Inc. (a)(b)
 
4,677
32,552
The Home Depot, Inc.
 
403,504
134,859,107
The ODP Corp. (a)
 
13,415
682,958
The RealReal, Inc. (a)(b)
 
35,882
137,069
thredUP, Inc. (a)(b)
 
27,728
44,365
TJX Companies, Inc.
 
461,935
43,463,464
Tractor Supply Co.
 
43,991
12,013,062
Ulta Beauty, Inc. (a)
 
19,738
7,990,732
Upbound Group, Inc.
 
17,959
556,909
Urban Outfitters, Inc. (a)
 
22,666
883,067
Valvoline, Inc. (a)(b)
 
52,257
2,221,968
Victoria's Secret & Co. (a)
 
31,463
554,378
Warby Parker, Inc. (a)
 
30,396
356,849
Wayfair LLC Class A (a)(b)
 
37,293
1,870,244
Williams-Sonoma, Inc.
 
26,043
7,468,612
Winmark Corp.
 
1,149
412,859
Zumiez, Inc. (a)
 
6,487
111,576
 
 
 
401,047,009
Textiles, Apparel & Luxury Goods - 0.5%
 
 
 
Capri Holdings Ltd. (a)
 
46,996
1,667,418
Carter's, Inc. (b)
 
14,772
1,010,553
Columbia Sportswear Co.
 
13,897
1,106,618
Crocs, Inc. (a)
 
24,417
3,036,742
Deckers Outdoor Corp. (a)
 
10,407
8,517,817
Figs, Inc. Class A (a)(b)
 
50,791
259,542
G-III Apparel Group Ltd. (a)
 
16,587
466,924
Hanesbrands, Inc. (a)(b)
 
140,095
638,833
Kontoor Brands, Inc.
 
20,175
1,252,061
Levi Strauss & Co. Class A
 
41,335
877,129
lululemon athletica, Inc. (a)
 
46,529
16,778,357
Movado Group, Inc.
 
6,163
156,972
NIKE, Inc. Class B
 
493,867
45,564,169
Oxford Industries, Inc.
 
5,931
639,243
PVH Corp.
 
24,044
2,615,987
Ralph Lauren Corp.
 
15,741
2,575,857
Skechers U.S.A., Inc. Class A (sub. vtg.) (a)
 
53,859
3,557,387
Steven Madden Ltd.
 
28,457
1,149,947
Tapestry, Inc.
 
94,408
3,768,767
Under Armour, Inc.:
 
 
 
 Class A (sub. vtg.) (a)
 
80,468
541,550
 Class C (non-vtg.) (a)
 
80,537
525,101
Vera Bradley, Inc. (a)
 
9,219
60,753
VF Corp.
 
132,893
1,655,847
Wolverine World Wide, Inc.
 
32,058
344,303
 
 
 
98,767,877
TOTAL CONSUMER DISCRETIONARY
 
 
2,056,691,585
CONSUMER STAPLES - 5.7%
 
 
 
Beverages - 1.3%
 
 
 
Boston Beer Co., Inc. Class A (a)
 
3,792
1,055,731
Brown-Forman Corp. Class B (non-vtg.)
 
74,094
3,545,398
Celsius Holdings, Inc. (a)
 
60,303
4,297,795
Coca-Cola Consolidated, Inc.
 
1,891
1,561,966
Constellation Brands, Inc. Class A (sub. vtg.)
 
65,223
16,531,422
Duckhorn Portfolio, Inc. (a)
 
17,292
146,463
Keurig Dr. Pepper, Inc.
 
422,565
14,240,441
MGP Ingredients, Inc. (b)
 
6,310
494,956
Molson Coors Beverage Co. Class B
 
75,892
4,345,576
Monster Beverage Corp. (a)
 
299,320
15,998,654
National Beverage Corp. (a)
 
9,428
419,546
PepsiCo, Inc.
 
557,217
98,020,042
The Coca-Cola Co.
 
1,575,229
97,301,895
The Vita Coco Co., Inc. (a)
 
12,317
298,564
 
 
 
258,258,449
Consumer Staples Distribution & Retail - 1.8%
 
 
 
Albertsons Companies, Inc.
 
162,462
3,314,225
Andersons, Inc.
 
12,710
698,287
BJ's Wholesale Club Holdings, Inc. (a)
 
54,518
4,071,404
Blue Apron Holdings, Inc.:
 
 
 
 warrants 11/4/28 (a)(c)
 
2,361
0
 warrants 11/4/28 (a)(c)
 
2,361
0
 warrants 11/4/28 (a)(c)
 
2,361
0
Casey's General Stores, Inc.
 
15,146
4,840,359
Chefs' Warehouse Holdings (a)
 
14,247
471,291
Costco Wholesale Corp.
 
179,881
130,035,975
Dollar General Corp.
 
89,034
12,392,642
Dollar Tree, Inc. (a)
 
83,987
9,931,463
Grocery Outlet Holding Corp. (a)
 
40,199
1,043,968
Ingles Markets, Inc. Class A
 
5,889
422,536
Kroger Co.
 
268,651
14,877,892
Performance Food Group Co. (a)
 
63,588
4,316,353
PriceSmart, Inc.
 
10,198
821,857
SpartanNash Co.
 
13,817
263,767
Sprouts Farmers Market LLC (a)
 
41,003
2,707,428
Sysco Corp.
 
201,601
14,982,986
Target Corp.
 
187,279
30,148,173
U.S. Foods Holding Corp. (a)
 
92,340
4,640,085
United Natural Foods, Inc. (a)
 
24,061
214,865
Walgreens Boots Alliance, Inc.
 
293,470
5,203,223
Walmart, Inc.
 
1,734,396
102,936,403
Weis Markets, Inc.
 
6,579
415,332
 
 
 
348,750,514
Food Products - 0.8%
 
 
 
Archer Daniels Midland Co.
 
216,005
12,670,853
B&G Foods, Inc. Class A
 
31,676
351,604
Beyond Meat, Inc. (a)(b)
 
26,690
180,958
BRC, Inc. Class A (a)(b)
 
14,854
57,931
Bunge Global SA
 
59,236
6,027,855
Cal-Maine Foods, Inc.
 
16,399
907,357
Calavo Growers, Inc.
 
7,185
193,636
Campbell Soup Co.
 
79,278
3,623,797
Conagra Brands, Inc.
 
195,233
6,009,272
Darling Ingredients, Inc. (a)
 
64,233
2,721,552
Flowers Foods, Inc.
 
77,377
1,929,782
Fresh Del Monte Produce, Inc.
 
13,362
341,666
Freshpet, Inc. (a)
 
19,476
2,065,819
General Mills, Inc.
 
230,305
16,227,290
Hormel Foods Corp.
 
118,586
4,216,918
Ingredion, Inc.
 
26,328
3,016,926
J&J Snack Foods Corp.
 
6,252
858,337
John B. Sanfilippo & Son, Inc.
 
3,642
363,107
Kellanova
 
108,046
6,251,542
Lamb Weston Holdings, Inc.
 
58,775
4,898,309
Lancaster Colony Corp.
 
8,209
1,566,359
McCormick & Co., Inc. (non-vtg.)
 
102,498
7,795,998
Mission Produce, Inc. (a)
 
17,092
193,994
Mondelez International, Inc.
 
545,896
39,271,758
Pilgrim's Pride Corp. (a)
 
16,312
587,558
Post Holdings, Inc. (a)
 
20,296
2,154,420
Seaboard Corp.
 
97
321,081
Seneca Foods Corp. Class A (a)
 
1,890
109,790
The Hain Celestial Group, Inc. (a)
 
36,283
222,778
The Hershey Co.
 
61,008
11,830,671
The J.M. Smucker Co.
 
43,589
5,006,197
The Kraft Heinz Co.
 
322,846
12,465,084
The Simply Good Foods Co. (a)
 
36,636
1,335,382
Tootsie Roll Industries, Inc.
 
7,209
214,179
TreeHouse Foods, Inc. (a)
 
20,243
760,125
Tyson Foods, Inc. Class A
 
116,686
7,077,006
Utz Brands, Inc. Class A (b)
 
27,473
495,338
Vital Farms, Inc. (a)
 
11,110
297,304
Westrock Coffee Holdings (a)(b)
 
11,681
118,445
Whole Earth Brands, Inc. Class A (a)(b)
 
12,713
61,277
WK Kellogg Co.
 
26,531
619,234
 
 
 
165,418,489
Household Products - 1.1%
 
 
 
Central Garden & Pet Co. (a)
 
6,792
278,132
Central Garden & Pet Co. Class A (non-vtg.)
 
18,164
643,551
Church & Dwight Co., Inc.
 
99,907
10,778,966
Colgate-Palmolive Co.
 
332,800
30,590,976
Energizer Holdings, Inc.
 
27,014
775,842
Kimberly-Clark Corp.
 
136,499
18,636,208
Procter & Gamble Co.
 
952,990
155,527,968
Reynolds Consumer Products, Inc.
 
22,008
630,089
Spectrum Brands Holdings, Inc.
 
12,209
999,551
The Clorox Co.
 
50,690
7,495,530
WD-40 Co.
 
5,471
1,237,157
 
 
 
227,593,970
Personal Care Products - 0.2%
 
 
 
BellRing Brands, Inc. (a)
 
52,778
2,911,762
Coty, Inc. Class A (a)
 
151,299
1,730,861
Edgewell Personal Care Co.
 
20,135
757,479
elf Beauty, Inc. (a)
 
22,624
3,677,079
Estee Lauder Companies, Inc. Class A
 
94,406
13,850,304
Herbalife Ltd. (a)
 
39,775
344,054
Inter Parfums, Inc.
 
7,243
842,940
Kenvue, Inc.
 
699,489
13,164,383
MediFast, Inc. (b)
 
4,363
120,113
Nu Skin Enterprises, Inc. Class A
 
19,900
234,024
Olaplex Holdings, Inc. (a)
 
45,104
62,695
The Beauty Health Co. (a)
 
30,935
99,920
The Honest Co., Inc. (a)
 
26,663
80,256
USANA Health Sciences, Inc. (a)
 
4,489
186,383
 
 
 
38,062,253
Tobacco - 0.5%
 
 
 
Altria Group, Inc.
 
715,428
31,342,901
Philip Morris International, Inc.
 
629,620
59,776,123
Turning Point Brands, Inc.
 
7,142
205,975
Universal Corp.
 
9,978
513,169
Vector Group Ltd.
 
53,735
556,157
 
 
 
92,394,325
TOTAL CONSUMER STAPLES
 
 
1,130,478,000
ENERGY - 4.2%
 
 
 
Energy Equipment & Services - 0.5%
 
 
 
Archrock, Inc.
 
55,325
1,061,687
Atlas Energy Solutions, Inc. (b)
 
21,392
475,116
Baker Hughes Co. Class A
 
405,896
13,240,328
Bristow Group, Inc. (a)
 
9,666
254,312
Cactus, Inc.
 
26,328
1,306,922
Championx Corp.
 
77,026
2,585,763
Core Laboratories, Inc.
 
18,751
296,266
Diamond Offshore Drilling, Inc. (a)
 
41,382
506,516
DMC Global, Inc. (a)
 
7,569
119,969
Dril-Quip, Inc. (a)
 
13,781
250,539
Expro Group Holdings NV (a)
 
35,184
660,052
Halliburton Co.
 
360,769
13,518,014
Helix Energy Solutions Group, Inc. (a)
 
57,052
612,738
Helmerich & Payne, Inc.
 
39,941
1,570,880
KLX Energy Services Holdings, Inc. (a)(b)
 
5,491
36,405
Kodiak Gas Services, Inc.
 
8,984
244,185
Liberty Oilfield Services, Inc. Class A
 
61,176
1,345,872
Nabors Industries Ltd. (a)(b)
 
3,588
258,444
Newpark Resources, Inc. (a)
 
29,544
205,035
Noble Corp. PLC
 
44,826
1,989,378
NOV, Inc.
 
158,777
2,935,787
Oceaneering International, Inc. (a)
 
40,869
936,309
Oil States International, Inc. (a)
 
25,816
103,006
Patterson-UTI Energy, Inc.
 
129,207
1,398,020
ProPetro Holding Corp. (a)
 
34,187
298,111
Ranger Energy Services, Inc. Class A
 
5,662
55,714
RPC, Inc.
 
34,329
229,661
Schlumberger Ltd.
 
579,333
27,506,731
SEACOR Marine Holdings, Inc. (a)
 
9,989
122,066
Select Water Solutions, Inc. Class A
 
32,689
302,046
Solaris Oilfield Infrastructure, Inc. Class A
 
11,742
103,447
TechnipFMC PLC
 
178,962
4,585,006
TETRA Technologies, Inc. (a)
 
48,762
209,189
Tidewater, Inc. (a)
 
19,532
1,794,014
Transocean Ltd. (United States) (a)(b)
 
286,860
1,497,409
U.S. Silica Holdings, Inc. (a)
 
31,512
486,230
Valaris Ltd. (a)
 
25,263
1,643,611
Weatherford International PLC (a)
 
29,613
3,660,759
 
 
 
88,405,537
Oil, Gas & Consumable Fuels - 3.7%
 
 
 
Aemetis, Inc. (a)(b)
 
14,329
55,883
Amplify Energy Corp. (a)
 
14,533
102,603
Antero Midstream GP LP
 
142,161
1,967,508
Antero Resources Corp. (a)
 
115,401
3,924,788
APA Corp.
 
148,419
4,666,293
Ardmore Shipping Corp.
 
16,774
280,965
Berry Corp.
 
27,210
231,013
California Resources Corp.
 
26,006
1,374,677
Centrus Energy Corp. Class A (a)
 
5,255
225,597
Cheniere Energy, Inc.
 
96,735
15,266,718
Chesapeake Energy Corp.
 
45,525
4,091,787
Chevron Corp.
 
703,097
113,388,453
Chord Energy Corp.
 
17,108
3,027,774
Civitas Resources, Inc.
 
34,609
2,490,464
Clean Energy Fuels Corp. (a)(b)
 
71,041
164,815
CNX Resources Corp. (a)
 
61,253
1,440,671
Comstock Resources, Inc. (b)
 
37,017
372,391
ConocoPhillips Co.
 
477,656
60,003,147
CONSOL Energy, Inc.
 
10,748
889,504
Coterra Energy, Inc.
 
306,775
8,393,364
Crescent Energy, Inc. Class A
 
33,187
353,110
CVR Energy, Inc.
 
11,782
357,937
Delek U.S. Holdings, Inc.
 
24,114
659,036
Devon Energy Corp.
 
260,683
13,341,756
Diamondback Energy, Inc.
 
72,552
14,592,384
Dorian LPG Ltd.
 
13,816
570,877
DT Midstream, Inc.
 
40,263
2,504,359
EOG Resources, Inc.
 
236,706
31,275,964
EQT Corp.
 
167,670
6,721,890
Equitrans Midstream Corp.
 
174,783
2,364,814
Evolution Petroleum Corp.
 
13,086
70,664
Excelerate Energy, Inc.
 
6,772
114,176
Exxon Mobil Corp.
 
1,609,818
190,393,175
FutureFuel Corp.
 
10,649
57,718
Gevo, Inc. (a)(b)
 
84,644
55,763
Granite Ridge Resources, Inc.
 
10,168
66,295
Green Plains, Inc. (a)
 
25,906
535,477
Gulfport Energy Corp. (a)
 
3,950
626,905
Hallador Energy Co. (a)
 
8,781
44,871
Hess Corp.
 
111,769
17,602,500
HF Sinclair Corp.
 
64,026
3,473,411
International Seaways, Inc.
 
15,197
840,242
Kinder Morgan, Inc.
 
783,627
14,324,702
Kinetik Holdings, Inc.
 
14,050
538,677
Kosmos Energy Ltd. (a)
 
185,876
1,053,917
Magnolia Oil & Gas Corp. Class A
 
78,364
1,964,585
Marathon Oil Corp.
 
239,012
6,417,472
Marathon Petroleum Corp.
 
149,277
27,126,616
Matador Resources Co.
 
45,655
2,844,307
Murphy Oil Corp.
 
60,518
2,701,524
New Fortress Energy, Inc. (b)
 
26,421
692,230
Nextdecade Corp. (a)(b)
 
31,959
205,177
Northern Oil & Gas, Inc.
 
36,755
1,499,236
Occidental Petroleum Corp.
 
266,815
17,647,144
ONEOK, Inc.
 
236,221
18,689,806
Overseas Shipholding Group, Inc.
 
20,562
125,017
Ovintiv, Inc.
 
102,765
5,273,900
Par Pacific Holdings, Inc. (a)
 
22,478
692,322
PBF Energy, Inc. Class A
 
43,853
2,336,049
Peabody Energy Corp.
 
44,416
974,487
Permian Resource Corp. Class A
 
188,022
3,149,369
Phillips 66 Co.
 
174,462
24,984,703
Pioneer Natural Resources Co.
 
94,746
25,516,993
Range Resources Corp.
 
97,478
3,500,435
Rex American Resources Corp. (a)
 
6,212
343,710
Riley Exploration Permian, Inc.
 
1,563
40,529
Ring Energy, Inc. (a)(b)
 
16,254
30,883
SandRidge Energy, Inc.
 
12,323
168,825
Scorpio Tankers, Inc.
 
17,374
1,222,435
SilverBow Resources, Inc. (a)
 
6,198
190,403
Sitio Royalties Corp. (b)
 
33,031
767,640
SM Energy Co.
 
46,726
2,265,744
Southwestern Energy Co. (a)
 
444,668
3,330,563
Talos Energy, Inc. (a)
 
54,385
716,794
Targa Resources Corp.
 
90,595
10,333,266
Teekay Corp. (a)
 
24,649
180,431
Teekay Tankers Ltd.
 
9,957
580,194
Tellurian, Inc. (a)(b)
 
281,937
121,261
Texas Pacific Land Corp.
 
7,633
4,398,898
The Williams Companies, Inc.
 
493,359
18,925,251
Uranium Energy Corp. (a)(b)
 
158,516
1,069,983
VAALCO Energy, Inc.
 
41,960
268,544
Valero Energy Corp.
 
138,224
22,097,871
Vertex Energy, Inc. (a)(b)
 
30,405
39,527
Vital Energy, Inc. (a)(b)
 
10,020
531,260
Vitesse Energy, Inc. (b)
 
9,014
200,021
W&T Offshore, Inc. (b)
 
37,782
85,010
World Kinect Corp.
 
24,293
570,886
 
 
 
739,720,336
TOTAL ENERGY
 
 
828,125,873
FINANCIALS - 13.7%
 
 
 
Banks - 3.6%
 
 
 
1st Source Corp.
 
6,818
338,173
Amalgamated Financial Corp.
 
7,241
177,694
Amerant Bancorp, Inc. Class A
 
10,829
234,556
Ameris Bancorp
 
26,119
1,240,130
Arrow Financial Corp.
 
6,917
154,042
Associated Banc-Corp.
 
60,017
1,264,558
Atlantic Union Bankshares Corp.
 
36,071
1,145,976
Axos Financial, Inc. (a)
 
20,426
1,033,760
Banc of California, Inc.
 
55,899
765,257
BancFirst Corp.
 
5,903
526,371
Bancorp, Inc., Delaware (a)
 
21,718
650,237
Bank First National Corp.
 
3,433
264,993
Bank of America Corp.
 
2,793,421
103,384,511
Bank of Hawaii Corp. (b)
 
16,046
909,648
Bank OZK (b)
 
42,440
1,894,946
BankUnited, Inc.
 
30,009
802,141
Banner Corp.
 
13,810
602,530
Berkshire Hills Bancorp, Inc.
 
17,264
368,068
BOK Financial Corp.
 
10,941
970,795
Brookline Bancorp, Inc., Delaware
 
35,895
297,929
Byline Bancorp, Inc.
 
11,695
253,431
Cadence Bank
 
73,816
2,042,489
Cambridge Bancorp
 
3,032
186,074
Camden National Corp.
 
5,719
178,547
Capitol Federal Financial, Inc.
 
48,628
231,956
Cathay General Bancorp
 
29,339
1,010,435
Central Pacific Financial Corp.
 
11,011
219,559
Citigroup, Inc.
 
772,653
47,386,808
Citizens Financial Group, Inc.
 
191,590
6,535,135
City Holding Co.
 
5,911
597,129
Coastal Financial Corp. of Washington (a)
 
4,401
170,231
Columbia Banking Systems, Inc.
 
83,883
1,577,839
Columbia Financial, Inc. (a)(b)
 
11,387
189,024
Comerica, Inc.
 
53,183
2,668,191
Commerce Bancshares, Inc.
 
47,729
2,609,822
Community Bank System, Inc.
 
21,505
929,446
Community Trust Bancorp, Inc.
 
6,182
259,706
ConnectOne Bancorp, Inc.
 
14,628
261,987
CrossFirst Bankshares, Inc. (a)
 
17,410
210,313
Cullen/Frost Bankers, Inc.
 
25,877
2,700,006
Customers Bancorp, Inc. (a)
 
11,525
526,347
CVB Financial Corp.
 
53,401
872,572
Dime Community Bancshares, Inc.
 
14,122
257,020
Eagle Bancorp, Inc.
 
12,090
223,544
East West Bancorp, Inc.
 
58,497
4,357,442
Eastern Bankshares, Inc.
 
63,345
795,613
Enterprise Financial Services Corp.
 
14,922
567,185
Equity Bancshares, Inc.
 
5,488
182,805
Esquire Financial Holdings, Inc.
 
2,613
122,968
FB Financial Corp.
 
14,185
519,880
Fifth Third Bancorp
 
277,328
10,111,379
First Bancorp, North Carolina
 
16,671
506,965
First Bancorp, Puerto Rico
 
68,014
1,173,242
First Bancshares, Inc.
 
11,186
267,793
First Busey Corp.
 
21,180
473,161
First Citizens Bancshares, Inc.
 
4,831
8,148,738
First Commonwealth Financial Corp.
 
41,230
543,824
First Financial Bancorp, Ohio
 
38,379
848,560
First Financial Bankshares, Inc. (b)
 
51,793
1,531,001
First Financial Corp., Indiana
 
4,291
156,235
First Foundation, Inc.
 
20,740
113,655
First Hawaiian, Inc.
 
51,526
1,086,683
First Horizon National Corp.
 
225,292
3,361,357
First Interstate Bancsystem, Inc.
 
32,861
877,389
First Merchants Corp.
 
23,991
801,779
First Mid-Illinois Bancshares, Inc.
 
8,890
275,234
First of Long Island Corp.
 
8,378
79,340
Flushing Financial Corp.
 
11,935
131,524
FNB Corp., Pennsylvania
 
144,702
1,930,325
Fulton Financial Corp.
 
66,076
1,093,558
German American Bancorp, Inc.
 
11,960
379,491
Glacier Bancorp, Inc.
 
44,568
1,612,470
Great Southern Bancorp, Inc.
 
3,410
175,274
Hancock Whitney Corp.
 
34,753
1,577,439
Hanmi Financial Corp.
 
12,247
187,379
HarborOne Bancorp, Inc.
 
15,984
161,918
Heartland Financial U.S.A., Inc.
 
15,664
659,611
Heritage Commerce Corp.
 
23,806
189,020
Heritage Financial Corp., Washington
 
14,131
250,684
Hilltop Holdings, Inc.
 
18,628
545,055
Hingham Institution for Savings
 
732
123,635
Home Bancshares, Inc.
 
75,575
1,789,616
HomeStreet, Inc.
 
7,290
89,303
Hope Bancorp, Inc.
 
48,559
486,561
Horizon Bancorp, Inc. Indiana
 
15,507
178,020
Huntington Bancshares, Inc.
 
595,444
8,020,631
Independent Bank Corp.
 
17,291
868,700
Independent Bank Corp.
 
8,488
210,587
Independent Bank Group, Inc.
 
14,384
535,660
International Bancshares Corp.
 
21,536
1,198,478
JPMorgan Chase & Co.
 
1,172,364
224,789,073
Kearny Financial Corp.
 
25,218
136,177
KeyCorp
 
386,203
5,596,081
Lakeland Bancorp, Inc.
 
26,268
320,207
Lakeland Financial Corp.
 
10,263
603,157
Live Oak Bancshares, Inc.
 
13,305
430,018
M&T Bank Corp.
 
67,693
9,774,192
Mercantile Bank Corp.
 
5,979
215,722
Metropolitan Bank Holding Corp. (a)
 
4,498
178,571
Midland States Bancorp, Inc.
 
8,759
191,822
National Bank Holdings Corp.
 
15,271
499,820
NBT Bancorp, Inc.
 
18,838
659,518
New York Community Bancorp, Inc.
 
291,091
771,391
Nicolet Bankshares, Inc.
 
5,220
399,487
Northfield Bancorp, Inc.
 
15,883
132,464
Northwest Bancshares, Inc.
 
50,902
539,561
OceanFirst Financial Corp.
 
24,034
354,742
OFG Bancorp
 
18,951
684,321
Old National Bancorp, Indiana
 
126,478
2,091,946
Old Second Bancorp, Inc.
 
16,315
223,516
Origin Bancorp, Inc.
 
11,759
349,242
Pacific Premier Bancorp, Inc.
 
38,682
831,663
Park National Corp.
 
5,748
757,069
Pathward Financial, Inc.
 
10,284
518,005
Peapack-Gladstone Financial Corp.
 
6,274
140,412
Peoples Bancorp, Inc.
 
13,340
387,394
Pinnacle Financial Partners, Inc.
 
30,678
2,353,003
PNC Financial Services Group, Inc.
 
161,379
24,732,946
Popular, Inc.
 
29,095
2,472,784
Preferred Bank, Los Angeles (b)
 
5,092
385,413
Premier Financial Corp.
 
14,457
280,177
Prosperity Bancshares, Inc.
 
37,771
2,340,669
Provident Financial Services, Inc.
 
30,500
447,740
QCR Holdings, Inc.
 
6,782
372,739
Regions Financial Corp.
 
378,988
7,303,099
Renasant Corp.
 
22,377
650,276
S&T Bancorp, Inc.
 
15,460
466,119
Sandy Spring Bancorp, Inc.
 
18,154
371,249
Seacoast Banking Corp., Florida
 
33,846
780,827
ServisFirst Bancshares, Inc.
 
19,761
1,165,109
Simmons First National Corp. Class A
 
50,503
863,096
Southside Bancshares, Inc.
 
11,592
309,043
Southstate Corp.
 
30,657
2,320,735
Stellar Bancorp, Inc.
 
19,008
421,978
Stock Yards Bancorp, Inc. (b)
 
11,019
490,896
Synovus Financial Corp.
 
58,867
2,106,850
Texas Capital Bancshares, Inc. (a)
 
19,062
1,094,159
TFS Financial Corp.
 
20,271
243,455
Tompkins Financial Corp.
 
5,060
222,539
TowneBank
 
27,796
719,083
Trico Bancshares
 
13,435
467,135
Triumph Bancorp, Inc. (a)
 
8,702
612,273
Truist Financial Corp.
 
541,384
20,328,969
Trustco Bank Corp., New York
 
7,700
204,974
Trustmark Corp.
 
24,637
729,255
U.S. Bancorp
 
631,143
25,643,340
UMB Financial Corp.
 
17,629
1,404,326
United Bankshares, Inc., West Virginia
 
54,271
1,761,637
United Community Bank, Inc.
 
47,998
1,210,990
Univest Corp. of Pennsylvania
 
11,993
250,294
Valley National Bancorp
 
172,116
1,206,533
Veritex Holdings, Inc.
 
21,952
427,625
WaFd, Inc.
 
27,405
742,401
Washington Trust Bancorp, Inc.
 
6,584
167,629
Webster Financial Corp.
 
69,358
3,039,961
Wells Fargo & Co.
 
1,459,858
86,598,777
WesBanco, Inc.
 
23,826
643,302
Westamerica Bancorp.
 
10,807
503,066
Western Alliance Bancorp.
 
43,876
2,493,473
Wintrust Financial Corp.
 
24,692
2,386,235
WSFS Financial Corp.
 
24,441
1,044,364
Zions Bancorporation NA
 
59,739
2,436,156
 
 
 
707,213,363
Capital Markets - 3.0%
 
 
 
Affiliated Managers Group, Inc.
 
13,635
2,128,424
Ameriprise Financial, Inc.
 
40,623
16,728,145
Ares Management Corp.
 
68,367
9,098,964
Artisan Partners Asset Management, Inc.
 
27,817
1,138,550
Assetmark Financial Holdings, Inc. (a)
 
9,028
305,237
B. Riley Financial, Inc. (b)
 
6,837
235,193
Bank of New York Mellon Corp.
 
308,035
17,400,897
BGC Group, Inc. Class A
 
155,241
1,215,537
BlackRock, Inc. Class A
 
56,745
42,822,047
Blackstone, Inc.
 
291,982
34,048,021
Blue Owl Capital, Inc. Class A
 
163,651
3,091,367
Bridge Investment Group Holdings, Inc.
 
12,269
80,730
BrightSphere Investment Group, Inc.
 
13,020
289,565
Carlyle Group LP
 
88,608
3,969,638
Cboe Global Markets, Inc.
 
42,888
7,769,161
Charles Schwab Corp.
 
603,347
44,617,511
CME Group, Inc.
 
146,043
30,616,455
Cohen & Steers, Inc.
 
10,320
709,810
Coinbase Global, Inc. (a)
 
69,371
14,146,828
Diamond Hill Investment Group, Inc.
 
1,168
174,289
Donnelley Financial Solutions, Inc. (a)
 
9,989
627,109
Evercore, Inc. Class A
 
14,028
2,546,082
FactSet Research Systems, Inc.
 
15,531
6,474,719
Federated Hermes, Inc.
 
32,917
1,081,323
Forge Global Holdings, Inc. Class A (a)
 
46,017
84,211
Franklin Resources, Inc.
 
121,010
2,763,868
GCM Grosvenor, Inc. Class A
 
17,182
162,198
Goldman Sachs Group, Inc.
 
132,246
56,430,691
Hamilton Lane, Inc. Class A
 
14,788
1,652,115
Houlihan Lokey
 
21,013
2,678,947
Interactive Brokers Group, Inc.
 
43,592
5,018,311
Intercontinental Exchange, Inc.
 
232,053
29,879,144
Invesco Ltd.
 
181,189
2,567,448
Janus Henderson Group PLC
 
53,473
1,669,427
Jefferies Financial Group, Inc.
 
68,164
2,935,142
KKR & Co. LP
 
269,296
25,063,379
Lazard, Inc. Class A
 
45,450
1,749,825
LPL Financial
 
30,256
8,142,797
MarketAxess Holdings, Inc.
 
15,279
3,057,175
Moelis & Co. Class A
 
26,895
1,320,007
Moody's Corp.
 
63,856
23,647,792
Morgan Stanley
 
508,227
46,167,341
Morningstar, Inc.
 
10,496
2,966,694
MSCI, Inc.
 
32,036
14,922,048
NASDAQ, Inc.
 
154,231
9,230,725
Northern Trust Corp.
 
84,312
6,946,466
Open Lending Corp. (a)
 
39,753
202,740
Oppenheimer Holdings, Inc. Class A (non-vtg.)
 
2,865
114,743
P10, Inc.
 
18,074
128,325
Perella Weinberg Partners Class A
 
17,456
260,444
Piper Jaffray Companies
 
6,136
1,201,367
PJT Partners, Inc.
 
8,997
850,127
Raymond James Financial, Inc.
 
76,323
9,311,406
Robinhood Markets, Inc. (a)
 
210,389
3,469,315
S&P Global, Inc.
 
130,236
54,156,036
SEI Investments Co.
 
40,212
2,651,981
State Street Corp.
 
123,049
8,919,822
StepStone Group, Inc. Class A
 
20,951
755,703
Stifel Financial Corp.
 
41,239
3,295,821
StoneX Group, Inc. (a)
 
10,901
791,413
T. Rowe Price Group, Inc.
 
91,265
9,999,906
TPG, Inc.
 
30,869
1,330,454
Tradeweb Markets, Inc. Class A
 
47,054
4,785,862
Victory Capital Holdings, Inc.
 
14,517
738,335
Virtu Financial, Inc. Class A
 
36,711
796,629
Virtus Investment Partners, Inc.
 
2,727
598,086
WisdomTree Investments, Inc.
 
44,649
397,376
 
 
 
595,127,244
Consumer Finance - 0.6%
 
 
 
Ally Financial, Inc.
 
111,465
4,274,683
American Express Co.
 
231,900
54,271,557
Bread Financial Holdings, Inc.
 
19,824
731,704
Capital One Financial Corp.
 
154,690
22,187,187
Credit Acceptance Corp. (a)
 
2,530
1,299,712
Discover Financial Services
 
101,338
12,842,565
Encore Capital Group, Inc. (a)(b)
 
9,420
387,068
Enova International, Inc. (a)
 
11,734
710,259
EZCORP, Inc. (non-vtg.) Class A (a)(b)
 
20,465
224,706
FirstCash Holdings, Inc.
 
14,884
1,681,594
Green Dot Corp. Class A (a)
 
18,266
159,828
LendingClub Corp. (a)
 
44,718
336,279
LendingTree, Inc. (a)
 
4,441
214,367
MoneyLion, Inc. (a)
 
2,160
143,230
Navient Corp.
 
33,048
496,381
Nelnet, Inc. Class A
 
7,170
675,271
NerdWallet, Inc. (a)
 
15,608
196,193
OneMain Holdings, Inc.
 
48,335
2,518,737
PRA Group, Inc. (a)
 
15,942
379,260
PROG Holdings, Inc.
 
18,048
599,916
SLM Corp.
 
88,860
1,882,943
SoFi Technologies, Inc. (a)(b)
 
393,407
2,667,299
Synchrony Financial
 
166,629
7,328,343
Upstart Holdings, Inc. (a)(b)
 
29,185
645,864
World Acceptance Corp. (a)
 
1,357
186,682
 
 
 
117,041,628
Financial Services - 4.1%
 
 
 
A-Mark Precious Metals, Inc. (b)
 
7,004
280,650
Affirm Holdings, Inc. (a)
 
95,224
3,035,741
Apollo Global Management, Inc.
 
177,363
19,222,602
AvidXchange Holdings, Inc. (a)
 
68,865
802,966
Berkshire Hathaway, Inc. Class B (a)
 
737,502
292,589,168
Block, Inc. Class A (a)
 
224,288
16,373,024
Cannae Holdings, Inc. (a)
 
22,919
445,775
Cantaloupe, Inc. (a)
 
22,504
130,298
Cass Information Systems, Inc.
 
4,927
212,797
Corebridge Financial, Inc.
 
96,465
2,562,110
Corpay, Inc. (a)
 
29,368
8,873,248
Enact Holdings, Inc.
 
12,123
360,417
Equitable Holdings, Inc.
 
128,909
4,758,031
Essent Group Ltd.
 
43,010
2,278,240
Euronet Worldwide, Inc. (a)
 
17,675
1,814,869
EVERTEC, Inc.
 
26,057
977,919
Federal Agricultural Mortgage Corp. Class C (non-vtg.)
 
3,736
695,382
Fidelity National Information Services, Inc.
 
240,413
16,328,851
Fiserv, Inc. (a)
 
243,520
37,178,198
Flywire Corp. (a)
 
42,689
875,125
Global Payments, Inc.
 
105,789
12,987,716
i3 Verticals, Inc. Class A (a)
 
9,395
213,360
International Money Express, Inc. (a)
 
14,066
284,555
Jack Henry & Associates, Inc.
 
30,101
4,897,132
Jackson Financial, Inc.
 
28,463
1,944,592
Marqeta, Inc. Class A (a)
 
171,576
952,247
MasterCard, Inc. Class A
 
334,430
150,894,816
Merchants Bancorp
 
10,390
419,029
MGIC Investment Corp.
 
109,936
2,229,502
Mr. Cooper Group, Inc. (a)
 
26,043
2,010,520
NCR Atleos Corp.
 
26,971
537,532
Newtekone, Inc.
 
9,486
102,354
NMI Holdings, Inc. (a)
 
32,758
1,010,912
Paymentus Holdings, Inc. (a)
 
7,167
146,278
Payoneer Global, Inc. (a)
 
105,261
519,989
PayPal Holdings, Inc. (a)
 
435,139
29,554,641
PennyMac Financial Services, Inc.
 
11,740
1,005,414
Radian Group, Inc.
 
61,775
1,845,219
Remitly Global, Inc. (a)
 
54,345
968,971
Repay Holdings Corp. (a)
 
29,864
303,717
Rocket Companies, Inc. (a)(b)
 
51,123
627,790
Sezzle, Inc. (b)
 
1,173
59,389
Shift4 Payments, Inc. (a)(b)
 
22,991
1,330,259
The Western Union Co.
 
141,334
1,899,529
Toast, Inc. (a)
 
152,978
3,614,870
UWM Holdings Corp. Class A (b)
 
37,760
237,888
Visa, Inc. Class A
 
640,901
172,152,418
Voya Financial, Inc.
 
41,537
2,831,162
Walker & Dunlop, Inc.
 
13,522
1,239,021
WEX, Inc. (a)
 
17,254
3,645,080
 
 
 
810,261,313
Insurance - 2.3%
 
 
 
AFLAC, Inc.
 
213,489
17,858,355
Allstate Corp.
 
106,519
18,114,621
AMBAC Financial Group, Inc. (a)
 
18,229
263,409
American Coastal Insurance Cor (a)
 
8,152
85,351
American Equity Investment Life Holding Co.
 
25,164
1,411,952
American Financial Group, Inc.
 
26,284
3,357,781
American International Group, Inc.
 
284,779
21,446,706
Amerisafe, Inc.
 
7,723
352,169
Aon PLC
 
81,234
22,908,800
Arch Capital Group Ltd. (a)
 
150,596
14,086,750
Arthur J. Gallagher & Co.
 
87,902
20,629,720
Assurant, Inc.
 
21,222
3,701,117
Assured Guaranty Ltd.
 
21,951
1,683,642
Axis Capital Holdings Ltd.
 
31,264
1,917,421
Brighthouse Financial, Inc. (a)
 
25,790
1,244,368
Brown & Brown, Inc.
 
95,553
7,791,392
Chubb Ltd.
 
164,108
40,803,813
Cincinnati Financial Corp.
 
64,127
7,418,853
CNO Financial Group, Inc.
 
44,129
1,161,917
eHealth, Inc. (a)
 
10,196
43,639
Employers Holdings, Inc.
 
10,374
441,829
Enstar Group Ltd. (a)
 
5,364
1,557,545
Erie Indemnity Co. Class A
 
10,068
3,852,621
Everest Re Group Ltd.
 
17,670
6,474,465
Fidelity National Financial, Inc.
 
105,783
5,236,259
First American Financial Corp.
 
41,575
2,227,173
Genworth Financial, Inc. Class A (a)
 
181,875
1,078,519
Globe Life, Inc.
 
34,525
2,629,769
Goosehead Insurance (a)(b)
 
9,867
561,531
Hanover Insurance Group, Inc.
 
14,417
1,871,615
Hartford Financial Services Group, Inc.
 
121,024
11,726,015
HCI Group, Inc.
 
2,755
314,566
Hippo Holdings, Inc. (a)(b)
 
6,506
139,163
Horace Mann Educators Corp.
 
16,448
606,273
James River Group Holdings Ltd.
 
15,162
134,790
Kemper Corp.
 
24,368
1,420,898
Kinsale Capital Group, Inc.
 
8,888
3,228,566
Lemonade, Inc. (a)(b)
 
25,382
437,332
Lincoln National Corp.
 
68,397
1,865,186
Loews Corp.
 
74,136
5,571,320
Markel Group, Inc. (a)
 
5,327
7,768,897
Marsh & McLennan Companies, Inc.
 
199,219
39,730,245
MBIA, Inc. (b)
 
17,679
111,201
Mercury General Corp.
 
10,629
555,472
MetLife, Inc.
 
248,978
17,697,356
National Western Life Group, Inc.
 
904
441,893
Old Republic International Corp.
 
105,083
3,137,778
Oscar Health, Inc. (a)
 
58,526
1,016,597
Palomar Holdings, Inc. (a)
 
9,976
784,812
Primerica, Inc.
 
14,491
3,070,063
Principal Financial Group, Inc.
 
89,547
7,086,750
ProAssurance Corp.
 
20,545
274,481
Progressive Corp.
 
237,196
49,396,067
Prudential Financial, Inc.
 
146,361
16,169,963
Reinsurance Group of America, Inc.
 
26,920
5,033,771
RenaissanceRe Holdings Ltd.
 
21,451
4,703,132
RLI Corp.
 
16,186
2,287,891
Root, Inc. (a)(b)
 
3,214
223,855
Ryan Specialty Group Holdings, Inc.
 
41,001
2,022,989
Safety Insurance Group, Inc.
 
5,918
470,895
Selective Insurance Group, Inc.
 
24,399
2,480,158
Siriuspoint Ltd. (a)
 
36,561
430,689
Skyward Specialty Insurance Group, Inc. (a)
 
13,049
455,671
Stewart Information Services Corp.
 
11,020
683,350
The Baldwin Insurance Group, Inc. (a)
 
25,937
690,962
The Travelers Companies, Inc.
 
92,525
19,630,104
Tiptree, Inc.
 
8,633
137,524
Trupanion, Inc. (a)(b)
 
14,410
324,225
United Fire Group, Inc.
 
8,220
181,580
Universal Insurance Holdings, Inc.
 
10,602
206,951
Unum Group
 
74,080
3,755,856
W.R. Berkley Corp.
 
82,076
6,317,390
White Mountains Insurance Group Ltd.
 
1,017
1,808,368
Willis Towers Watson PLC
 
41,501
10,422,561
 
 
 
447,166,708
Mortgage Real Estate Investment Trusts - 0.1%
 
 
 
AGNC Investment Corp.
 
280,199
2,563,821
Annaly Capital Management, Inc.
 
201,878
3,783,194
Apollo Commercial Real Estate Finance, Inc.
 
52,957
509,976
Arbor Realty Trust, Inc. (b)
 
76,162
977,158
Ares Commercial Real Estate Corp.
 
22,328
151,607
Armour Residential REIT, Inc.
 
19,755
358,948
Blackstone Mortgage Trust, Inc. (b)
 
69,639
1,228,432
BrightSpire Capital, Inc.
 
53,505
336,546
Chimera Investment Corp.
 
92,183
379,794
Claros Mortgage Trust, Inc.
 
48,972
426,056
Dynex Capital, Inc.
 
24,131
281,609
Ellington Financial LLC
 
32,377
370,393
Ellington Residential Mortgage REIT
 
7,247
47,903
Franklin BSP Realty Trust, Inc.
 
33,688
420,763
Granite Point Mortgage Trust, Inc.
 
22,413
96,152
Hannon Armstrong Sustainable Infrastructure Capital, Inc. (b)
 
44,928
1,123,649
Invesco Mortgage Capital, Inc.
 
20,035
171,299
KKR Real Estate Finance Trust, Inc.
 
23,693
222,951
Ladder Capital Corp. Class A
 
46,185
495,565
MFA Financial, Inc.
 
41,075
434,984
New York Mortgage Trust, Inc.
 
37,090
254,067
Orchid Island Capital, Inc. (b)
 
21,174
176,379
PennyMac Mortgage Investment Trust
 
35,194
487,437
Ready Capital Corp.
 
64,521
549,719
Redwood Trust, Inc.
 
53,781
297,409
Rithm Capital Corp.
 
195,873
2,178,108
Starwood Property Trust, Inc. (b)
 
120,735
2,290,343
TPG RE Finance Trust, Inc.
 
23,761
174,168
Two Harbors Investment Corp.
 
41,844
528,490
 
 
 
21,316,920
TOTAL FINANCIALS
 
 
2,698,127,176
HEALTH CARE - 12.1%
 
 
 
Biotechnology - 2.3%
 
 
 
2seventy bio, Inc. (a)(b)
 
20,403
93,038
4D Molecular Therapeutics, Inc. (a)
 
14,923
357,107
89Bio, Inc. (a)(b)
 
31,579
268,737
AbbVie, Inc.
 
716,101
116,466,667
Absci Corp. (a)
 
25,552
121,116
ACADIA Pharmaceuticals, Inc. (a)
 
48,322
807,461
Acelyrin, Inc.
 
11,593
48,459
Actinium Pharmaceuticals, Inc. (a)(b)
 
11,993
92,346
Acumen Pharmaceuticals, Inc. (a)(b)
 
10,753
34,625
Adicet Bio, Inc. (a)
 
22,838
34,029
ADMA Biologics, Inc. (a)
 
84,851
553,229
Adverum Biotechnologies, Inc. (a)
 
7,276
70,723
Aerovate Therapeutics, Inc. (a)
 
5,506
110,175
Agenus, Inc. (b)
 
6,550
79,386
Agios Pharmaceuticals, Inc. (a)
 
22,527
732,128
Akebia Therapeutics, Inc. (a)
 
68,525
86,342
Akero Therapeutics, Inc. (a)
 
26,907
535,180
Aldeyra Therapeutics, Inc. (a)
 
18,710
73,717
Alector, Inc. (a)
 
28,409
144,318
Alkermes PLC (a)
 
67,268
1,650,757
Allakos, Inc. (a)
 
27,954
29,352
Allogene Therapeutics, Inc. (a)(b)
 
47,155
130,148
Alnylam Pharmaceuticals, Inc. (a)
 
51,050
7,348,648
Alpine Immune Sciences, Inc. (a)
 
17,966
1,160,424
Altimmune, Inc. (a)(b)
 
21,707
142,181
ALX Oncology Holdings, Inc. (a)
 
10,635
181,008
Amgen, Inc.
 
217,041
59,456,212
Amicus Therapeutics, Inc. (a)
 
105,264
1,051,587
AnaptysBio, Inc. (a)
 
7,604
185,081
Anavex Life Sciences Corp. (a)(b)
 
33,193
121,154
Anika Therapeutics, Inc. (a)
 
5,904
152,855
Annexon, Inc. (a)
 
24,666
112,230
Apellis Pharmaceuticals, Inc. (a)
 
41,074
1,815,060
Apogee Therapeutics, Inc.
 
10,464
526,339
Arbutus Biopharma Corp. (a)(b)
 
50,809
138,709
Arcellx, Inc. (a)
 
13,822
691,376
Arcturus Therapeutics Holdings, Inc. (a)
 
9,676
247,415
Arcus Biosciences, Inc. (a)
 
21,791
331,877
Arcutis Biotherapeutics, Inc. (a)(b)
 
40,417
336,269
Ardelyx, Inc. (a)
 
93,742
599,949
Arrowhead Pharmaceuticals, Inc. (a)
 
49,952
1,129,914
Ars Pharmaceuticals, Inc. (a)(b)
 
20,559
178,863
Astria Therapeutics, Inc. (a)
 
16,773
153,976
Atara Biotherapeutics, Inc. (a)
 
34,659
23,915
Aura Biosciences, Inc. (a)
 
14,660
108,484
Avid Bioservices, Inc. (a)(b)
 
25,534
194,824
Avidity Biosciences, Inc. (a)
 
26,952
650,352
Avita Medical, Inc. (a)
 
10,335
86,814
Beam Therapeutics, Inc. (a)
 
27,778
589,449
BioCryst Pharmaceuticals, Inc. (a)(b)
 
81,152
335,158
Biogen, Inc. (a)
 
59,059
12,687,054
Biohaven Ltd. (a)
 
26,858
1,042,090
BioMarin Pharmaceutical, Inc. (a)
 
76,881
6,208,910
Biomea Fusion, Inc. (a)(b)
 
9,640
103,534
bluebird bio, Inc. (a)(b)
 
77,837
69,049
Blueprint Medicines Corp. (a)
 
24,501
2,237,921
BridgeBio Pharma, Inc. (a)
 
51,874
1,329,012
C4 Therapeutics, Inc. (a)(b)
 
18,483
116,443
Cabaletta Bio, Inc. (a)
 
15,207
161,879
CareDx, Inc. (a)(b)
 
21,848
169,540
Cargo Therapeutics, Inc. (b)
 
7,986
152,533
Caribou Biosciences, Inc. (a)
 
33,092
120,124
Carisma Therapeutics, Inc. rights (a)(c)
 
58,324
1
Cartesian Therapeutics, Inc. rights (a)(c)
 
43,098
5,603
Catalyst Pharmaceutical Partners, Inc. (a)
 
45,058
678,123
Cel-Sci Corp. (a)(b)
 
21,812
31,846
Celcuity, Inc. (a)
 
5,678
89,542
Celldex Therapeutics, Inc. (a)
 
25,482
953,536
Cerevel Therapeutics Holdings (a)
 
35,727
1,525,900
Cogent Biosciences, Inc. (a)
 
31,097
202,131
Coherus BioSciences, Inc. (a)(b)
 
38,166
74,805
Crinetics Pharmaceuticals, Inc. (a)
 
23,480
1,028,894
CRISPR Therapeutics AG (a)(b)
 
31,965
1,693,825
Cullinan Oncology, Inc. (a)
 
13,627
368,065
Cytokinetics, Inc. (a)(b)
 
39,516
2,423,121
Day One Biopharmaceuticals, Inc. (a)
 
22,448
383,861
Deciphera Pharmaceuticals, Inc. (a)
 
23,142
584,798
Denali Therapeutics, Inc. (a)
 
50,303
776,678
Disc Medicine, Inc. (a)
 
5,082
141,483
Dynavax Technologies Corp. (a)(b)
 
52,201
593,525
Dyne Therapeutics, Inc. (a)
 
23,219
587,673
Editas Medicine, Inc. (a)
 
33,150
172,712
Emergent BioSolutions, Inc. (a)(b)
 
18,754
35,258
Enanta Pharmaceuticals, Inc. (a)
 
8,003
109,961
Erasca, Inc. (a)
 
30,880
62,069
Exact Sciences Corp. (a)
 
74,016
4,392,850
Exelixis, Inc. (a)
 
122,227
2,867,445
Fate Therapeutics, Inc. (a)
 
34,402
135,888
FibroGen, Inc. (a)
 
38,031
42,595
G1 Therapeutics, Inc. (a)(b)
 
17,778
67,023
Genelux Corp. (a)(b)
 
7,965
24,771
Geron Corp. (a)
 
191,318
751,880
Gilead Sciences, Inc.
 
505,776
32,976,595
Gossamer Bio, Inc. (a)
 
75,653
53,714
Gritstone Bio, Inc. (a)(b)
 
31,026
24,821
Halozyme Therapeutics, Inc. (a)
 
53,177
2,026,044
Heron Therapeutics, Inc. (a)(b)
 
61,362
142,360
HilleVax, Inc. (a)
 
10,149
133,967
Humacyte, Inc. Class A (a)(b)
 
25,066
98,259
Ideaya Biosciences, Inc. (a)
 
29,736
1,208,768
IGM Biosciences, Inc. (a)(b)
 
6,249
60,178
ImmunityBio, Inc. (a)(b)
 
63,076
503,977
Immunovant, Inc. (a)
 
22,737
623,903
Incyte Corp. (a)
 
76,659
3,990,101
Inhibrx, Inc. (a)
 
10,595
360,654
Inovio Pharmaceuticals, Inc. (a)(b)
 
9,176
105,065
Inozyme Pharma, Inc. (a)
 
18,153
80,055
Insmed, Inc. (a)
 
57,641
1,424,886
Intellia Therapeutics, Inc. (a)
 
36,364
778,190
Invivyd, Inc. (a)
 
22,281
49,464
Ionis Pharmaceuticals, Inc. (a)
 
57,797
2,384,704
Iovance Biotherapeutics, Inc. (a)
 
97,834
1,152,485
Ironwood Pharmaceuticals, Inc. Class A (a)
 
55,327
428,784
iTeos Therapeutics, Inc. (a)
 
10,694
114,854
Janux Therapeutics, Inc. (a)
 
9,381
534,717
Kalvista Pharmaceuticals, Inc. (a)(b)
 
10,038
113,931
Karyopharm Therapeutics, Inc. (a)(b)
 
46,157
47,542
Keros Therapeutics, Inc. (a)
 
10,552
595,027
Kiniksa Pharmaceuticals Ltd. (a)
 
12,617
236,190
Kodiak Sciences, Inc. (a)
 
12,909
41,438
Krystal Biotech, Inc. (a)
 
9,931
1,520,635
Kura Oncology, Inc. (a)
 
30,564
599,666
Kymera Therapeutics, Inc. (a)
 
17,072
573,961
Larimar Therapeutics, Inc. (a)
 
22,417
154,453
Lexeo Therapeutics, Inc.
 
3,980
49,551
Lexicon Pharmaceuticals, Inc. (a)
 
49,197
75,763
Lyell Immunopharma, Inc. (a)(b)
 
65,023
141,100
Macrogenics, Inc. (a)
 
25,263
373,387
Madrigal Pharmaceuticals, Inc. (a)(b)
 
6,267
1,278,593
MannKind Corp. (a)(b)
 
109,211
448,857
Mersana Therapeutics, Inc. (a)
 
39,705
125,865
MiMedx Group, Inc. (a)
 
46,640
287,302
Mineralys Therapeutics, Inc. (a)
 
5,646
69,164
Mirum Pharmaceuticals, Inc. (a)(b)
 
14,893
373,963
Moderna, Inc. (a)
 
134,404
14,826,105
Morphic Holding, Inc. (a)
 
16,582
452,191
Mural Oncology PLC
 
6,150
22,755
Myriad Genetics, Inc. (a)
 
35,695
698,551
Natera, Inc. (a)
 
46,061
4,278,146
Neurocrine Biosciences, Inc. (a)
 
40,798
5,611,357
Novavax, Inc. (a)(b)
 
48,395
209,550
Nurix Therapeutics, Inc. (a)
 
18,084
217,370
Nuvalent, Inc. Class A (a)
 
12,921
889,998
Ocugen, Inc. (a)(b)
 
100,598
132,789
Olema Pharmaceuticals, Inc. (a)(b)
 
20,612
209,624
Omniab, Inc. (a)(c)
 
2,111
8,803
Omniab, Inc. (a)(c)
 
2,111
8,233
Organogenesis Holdings, Inc. Class A (a)
 
29,912
70,293
ORIC Pharmaceuticals, Inc. (a)(b)
 
16,891
149,148
PDL BioPharma, Inc. (a)(c)
 
20,940
3,404
PDS Biotechnology Corp. (a)(b)
 
12,641
42,347
Poseida Therapeutics, Inc. (a)
 
27,985
67,724
Praxis Precision Medicines, Inc. (a)
 
6,419
352,211
Precigen, Inc. (a)
 
54,612
72,088
Prime Medicine, Inc. (a)
 
14,909
73,352
Protagonist Therapeutics, Inc. (a)
 
23,002
577,580
Prothena Corp. PLC (a)
 
15,813
321,636
PTC Therapeutics, Inc. (a)
 
30,206
971,123
Puma Biotechnology, Inc. (a)(b)
 
16,692
84,628
RAPT Therapeutics, Inc. (a)
 
10,980
84,546
Recursion Pharmaceuticals, Inc. (a)(b)
 
64,063
500,973
Regeneron Pharmaceuticals, Inc. (a)
 
42,877
38,188,829
REGENXBIO, Inc. (a)
 
16,314
250,420
Relay Therapeutics, Inc. (a)
 
38,031
247,962
Repligen Corp. (a)
 
20,937
3,437,855
Replimune Group, Inc. (a)
 
21,807
138,474
Revolution Medicines, Inc. (a)
 
52,172
1,944,972
Rhythm Pharmaceuticals, Inc. (a)
 
20,299
807,088
Rigel Pharmaceuticals, Inc. (a)
 
69,000
72,450
Rocket Pharmaceuticals, Inc. (a)
 
27,645
594,920
Roivant Sciences Ltd. (a)
 
136,031
1,482,738
Sage Therapeutics, Inc. (a)
 
21,075
293,786
Sana Biotechnology, Inc. (a)(b)
 
42,356
381,204
Sangamo Therapeutics, Inc. (a)
 
54,471
28,047
Sarepta Therapeutics, Inc. (a)
 
38,107
4,826,633
Savara, Inc. (a)
 
38,907
178,194
Scholar Rock Holding Corp. (a)
 
18,737
274,872
SpringWorks Therapeutics, Inc. (a)
 
25,748
1,202,174
Stoke Therapeutics, Inc. (a)
 
11,536
127,242
Summit Therapeutics, Inc. (a)
 
50,876
199,943
Sutro Biopharma, Inc. (a)
 
21,893
74,327
Syndax Pharmaceuticals, Inc. (a)
 
32,494
686,598
Tango Therapeutics, Inc. (a)
 
20,045
154,347
Tenaya Therapeutics, Inc. (a)
 
19,566
88,830
TG Therapeutics, Inc. (a)(b)
 
53,615
732,381
Travere Therapeutics, Inc. (a)
 
27,565
152,434
Twist Bioscience Corp. (a)(b)
 
23,223
725,254
Tyra Biosciences, Inc. (a)
 
8,441
144,341
Ultragenyx Pharmaceutical, Inc. (a)
 
33,098
1,407,989
uniQure B.V. (a)(b)
 
18,282
80,624
United Therapeutics Corp. (a)
 
19,242
4,508,978
Vanda Pharmaceuticals, Inc. (a)
 
29,621
140,996
Vaxcyte, Inc. (a)
 
39,322
2,380,947
Vera Therapeutics, Inc. (a)
 
17,567
694,072
Veracyte, Inc. (a)(b)
 
30,574
598,333
Vericel Corp. (a)
 
19,243
882,676
Vertex Pharmaceuticals, Inc. (a)
 
104,548
41,067,500
Verve Therapeutics, Inc. (a)(b)
 
23,724
142,581
Viking Therapeutics, Inc. (a)
 
43,113
3,430,933
Vir Biotechnology, Inc. (a)
 
35,249
298,207
Viridian Therapeutics, Inc. (a)
 
22,395
296,958
Voyager Therapeutics, Inc. (a)(b)
 
19,706
154,101
X4 Pharmaceuticals, Inc. (a)(b)
 
53,571
60,000
Xencor, Inc. (a)
 
24,557
514,224
Y-mAbs Therapeutics, Inc. (a)
 
11,806
179,569
Zentalis Pharmaceuticals, Inc. (a)
 
22,947
253,794
 
 
 
447,601,369
Health Care Equipment & Supplies - 2.4%
 
 
 
Abbott Laboratories
 
703,941
74,596,628
Align Technology, Inc. (a)
 
28,900
8,160,782
Alphatec Holdings, Inc. (a)
 
39,037
492,647
Angiodynamics, Inc. (a)
 
16,133
93,410
Artivion, Inc. (a)
 
15,744
308,897
Atricure, Inc. (a)
 
19,115
461,054
Atrion Corp. (b)
 
540
228,577
Avanos Medical, Inc. (a)
 
18,748
338,964
AxoGen, Inc. (a)
 
16,789
107,617
Axonics, Inc. (a)
 
20,484
1,363,620
Baxter International, Inc.
 
207,807
8,389,169
Becton, Dickinson & Co.
 
117,214
27,498,404
Boston Scientific Corp. (a)
 
593,760
42,673,531
Butterfly Network, Inc. Class A (a)(b)
 
55,173
42,820
Cerus Corp. (a)
 
73,254
122,334
CONMED Corp.
 
12,333
838,397
CVRx, Inc. (a)
 
4,183
64,878
Dentsply Sirona, Inc.
 
85,404
2,562,974
DexCom, Inc. (a)
 
156,487
19,934,879
Edwards Lifesciences Corp. (a)
 
246,222
20,847,617
Embecta Corp.
 
23,260
235,624
Enovis Corp. (a)
 
20,027
1,106,091
Envista Holdings Corp. (a)
 
69,357
1,364,946
GE Healthcare Technologies, Inc.
 
171,568
13,080,344
Glaukos Corp. (a)
 
19,673
1,888,608
Globus Medical, Inc. (a)
 
46,564
2,318,422
Haemonetics Corp. (a)
 
20,462
1,881,481
Hologic, Inc. (a)
 
95,501
7,236,111
ICU Medical, Inc. (a)(b)
 
8,177
800,692
IDEXX Laboratories, Inc. (a)
 
33,712
16,611,925
Inari Medical, Inc. (a)
 
20,760
775,178
Inogen, Inc. (a)
 
9,416
64,029
Inspire Medical Systems, Inc. (a)
 
11,926
2,882,037
Insulet Corp. (a)
 
28,491
4,898,743
Integer Holdings Corp. (a)
 
13,396
1,495,395
Integra LifeSciences Holdings Corp. (a)
 
27,394
799,083
Intuitive Surgical, Inc. (a)
 
142,884
52,955,668
IRadimed Corp.
 
3,034
123,211
iRhythm Technologies, Inc. (a)
 
12,355
1,353,861
Lantheus Holdings, Inc. (a)
 
27,613
1,837,369
LeMaitre Vascular, Inc.
 
8,048
521,510
LivaNova PLC (a)
 
21,658
1,207,434
Masimo Corp. (a)
 
17,848
2,398,950
Medtronic PLC
 
539,260
43,270,222
Merit Medical Systems, Inc. (a)
 
23,281
1,725,122
Neogen Corp. (a)
 
79,500
980,235
Nevro Corp. (a)
 
14,671
155,219
Novocure Ltd. (a)
 
38,583
472,256
Omnicell, Inc. (a)
 
18,335
491,561
OraSure Technologies, Inc. (a)
 
29,028
153,558
Orthofix International NV (a)
 
15,346
199,498
OrthoPediatrics Corp. (a)
 
6,322
187,321
Outset Medical, Inc. (a)
 
18,364
46,461
Paragon 28, Inc. (a)(b)
 
15,001
138,309
Penumbra, Inc. (a)
 
15,560
3,057,073
PROCEPT BioRobotics Corp. (a)
 
17,838
945,057
Pulmonx Corp. (a)
 
15,505
117,993
QuidelOrtho Corp. (a)
 
19,946
808,810
ResMed, Inc.
 
59,675
12,769,853
RxSight, Inc. (a)
 
9,123
475,582
Semler Scientific, Inc. (a)
 
2,238
57,136
Senseonics Holdings, Inc. (a)(b)
 
214,100
104,267
Shockwave Medical, Inc. (a)
 
14,989
4,949,218
SI-BONE, Inc. (a)
 
15,040
214,470
Sight Sciences, Inc. (a)
 
11,210
62,216
Silk Road Medical, Inc. (a)
 
15,913
309,349
Solventum Corp.
 
56,801
3,692,633
Staar Surgical Co. (a)
 
19,823
911,065
STERIS PLC
 
40,273
8,238,245
Stryker Corp.
 
137,012
46,104,538
SurModics, Inc. (a)
 
5,779
148,463
Tactile Systems Technology, Inc. (a)
 
9,526
131,173
Tandem Diabetes Care, Inc. (a)
 
26,344
966,561
Teleflex, Inc.
 
18,943
3,954,351
The Cooper Companies, Inc.
 
81,156
7,227,753
TransMedics Group, Inc. (a)
 
13,160
1,238,751
Treace Medical Concepts, Inc. (a)
 
17,288
179,277
UFP Technologies, Inc. (a)
 
2,822
581,163
Utah Medical Products, Inc.
 
1,407
93,143
Varex Imaging Corp. (a)
 
16,425
266,906
Zimmer Biomet Holdings, Inc.
 
85,077
10,233,062
Zimvie, Inc. (a)
 
10,487
159,402
Zynex, Inc. (a)(b)
 
7,677
84,217
 
 
 
482,865,400
Health Care Providers & Services - 2.5%
 
 
 
23andMe Holding Co. Class A (a)(b)
 
111,527
56,009
Acadia Healthcare Co., Inc. (a)
 
37,167
2,748,128
Accolade, Inc. (a)
 
28,419
216,837
AdaptHealth Corp. (a)
 
33,358
328,576
Addus HomeCare Corp. (a)
 
6,460
621,129
Agiliti, Inc. (a)(b)
 
14,124
143,359
agilon health, Inc. (a)(b)
 
121,764
669,702
Alignment Healthcare, Inc. (a)
 
39,659
204,244
Amedisys, Inc. (a)
 
13,136
1,209,169
AMN Healthcare Services, Inc. (a)
 
15,237
913,915
Astrana Health, Inc. (a)
 
16,891
627,501
Brookdale Senior Living, Inc. (a)
 
75,880
515,225
Cardinal Health, Inc.
 
98,690
10,169,018
Castle Biosciences, Inc. (a)
 
10,869
229,227
Cencora, Inc.
 
67,010
16,018,741
Centene Corp. (a)
 
216,579
15,823,291
Chemed Corp.
 
6,191
3,516,488
Cigna Group
 
118,576
42,336,375
Clover Health Investments Corp. (a)(b)
 
138,821
87,457
Community Health Systems, Inc. (a)
 
46,715
154,160
Corvel Corp. (a)
 
3,626
866,070
Cross Country Healthcare, Inc. (a)
 
13,364
235,206
CVS Health Corp.
 
510,530
34,567,986
DaVita, Inc. (a)
 
21,696
3,015,961
DocGo, Inc. Class A (a)(b)
 
33,679
113,835
Elevance Health, Inc.
 
95,219
50,330,859
Encompass Health Corp.
 
41,364
3,448,930
Enhabit Home Health & Hospice (a)
 
20,223
204,050
Fulgent Genetics, Inc. (a)
 
7,885
160,460
Guardant Health, Inc. (a)
 
48,874
879,732
HCA Holdings, Inc.
 
80,343
24,891,868
HealthEquity, Inc. (a)
 
34,617
2,731,627
Henry Schein, Inc. (a)
 
53,466
3,704,124
Hims & Hers Health, Inc. (a)
 
58,801
736,777
Humana, Inc.
 
49,615
14,988,195
Laboratory Corp. of America Holdings
 
34,685
6,984,518
LifeStance Health Group, Inc. (a)
 
37,743
233,252
McKesson Corp.
 
53,275
28,619,863
Modivcare, Inc. (a)
 
4,669
109,581
Molina Healthcare, Inc. (a)
 
23,532
8,050,297
National Healthcare Corp.
 
5,468
496,877
National Research Corp. Class A
 
5,846
200,226
NeoGenomics, Inc. (a)
 
51,585
718,063
Opko Health, Inc. (a)(b)
 
181,854
221,862
Option Care Health, Inc. (a)
 
71,424
2,134,863
Owens & Minor, Inc. (a)
 
30,972
766,247
Patterson Companies, Inc.
 
33,266
847,285
Pediatrix Medical Group, Inc. (a)
 
33,608
298,103
Pennant Group, Inc. (a)
 
11,831
247,386
PetIQ, Inc. Class A (a)
 
10,394
169,630
Premier, Inc.
 
48,359
1,009,736
Privia Health Group, Inc. (a)
 
41,656
766,470
Progyny, Inc. (a)
 
33,768
1,082,602
Quest Diagnostics, Inc.
 
45,388
6,271,714
R1 RCM, Inc. (a)
 
79,435
976,256
RadNet, Inc. (a)
 
26,283
1,274,726
Select Medical Holdings Corp.
 
42,497
1,205,640
Surgery Partners, Inc. (a)
 
29,509
736,250
Talkspace, Inc. Class A (a)
 
54,843
167,820
Tenet Healthcare Corp. (a)
 
41,009
4,604,901
The Ensign Group, Inc.
 
22,657
2,681,683
U.S. Physical Therapy, Inc.
 
6,047
613,831
UnitedHealth Group, Inc.
 
375,075
181,423,778
Universal Health Services, Inc. Class B
 
25,037
4,267,056
 
 
 
494,644,747
Health Care Technology - 0.1%
 
 
 
American Well Corp. (a)
 
103,720
52,949
Augmedix, Inc. (a)
 
16,625
45,054
Certara, Inc. (a)
 
43,203
739,203
Definitive Healthcare Corp. (a)(b)
 
19,769
137,197
Doximity, Inc. (a)
 
49,292
1,197,303
Evolent Health, Inc. Class A (a)
 
46,414
1,287,524
GoodRx Holdings, Inc. (a)(b)
 
31,694
225,027
Health Catalyst, Inc. (a)
 
22,204
138,109
HealthStream, Inc.
 
9,632
248,217
MultiPlan Corp. Class A (a)
 
101,328
65,843
OptimizeRx Corp. (a)
 
7,478
76,276
Phreesia, Inc. (a)
 
21,321
442,198
Schrodinger, Inc. (a)
 
22,164
540,358
Simulations Plus, Inc.
 
6,458
292,870
Teladoc Health, Inc. (a)
 
66,822
851,981
TruBridge, Inc. (a)
 
5,009
39,571
Veeva Systems, Inc. Class A (a)
 
59,546
11,823,454
 
 
 
18,203,134
Life Sciences Tools & Services - 1.3%
 
 
 
10X Genomics, Inc. (a)
 
42,013
1,230,141
Adaptive Biotechnologies Corp. (a)
 
44,480
116,538
Agilent Technologies, Inc.
 
118,903
16,294,467
Avantor, Inc. (a)
 
275,912
6,685,348
Azenta, Inc. (a)
 
22,515
1,181,137
Bio-Rad Laboratories, Inc. Class A (a)
 
8,438
2,276,151
Bio-Techne Corp.
 
64,674
4,088,044
BioLife Solutions, Inc. (a)
 
14,074
246,858
Bruker Corp.
 
37,393
2,917,028
Charles River Laboratories International, Inc. (a)
 
21,025
4,814,725
Codexis, Inc. (a)
 
25,862
75,258
CryoPort, Inc. (a)(b)
 
19,865
321,614
Cytek Biosciences, Inc. (a)
 
39,975
240,250
Danaher Corp.
 
266,566
65,740,507
Fortrea Holdings, Inc.
 
35,801
1,309,959
Illumina, Inc. (a)
 
64,567
7,944,969
Inotiv, Inc. (a)(b)
 
8,163
31,346
IQVIA Holdings, Inc. (a)
 
74,081
17,169,753
Lifecore Biomedical (a)(b)
 
9,843
63,192
Maravai LifeSciences Holdings, Inc. (a)
 
44,957
368,647
MaxCyte, Inc. (a)
 
40,316
146,347
Medpace Holdings, Inc. (a)
 
9,411
3,654,762
Mesa Laboratories, Inc.
 
2,069
219,480
Mettler-Toledo International, Inc. (a)
 
8,757
10,768,483
OmniAb, Inc. (a)
 
39,399
174,932
Pacific Biosciences of California, Inc. (a)(b)
 
97,868
161,482
Quanterix Corp. (a)
 
13,890
223,907
Revvity, Inc.
 
50,354
5,159,774
Sotera Health Co. (a)
 
50,141
561,579
Standard BioTools, Inc. (a)
 
102,762
254,850
Thermo Fisher Scientific, Inc.
 
156,560
89,038,803
Waters Corp. (a)
 
24,212
7,482,476
West Pharmaceutical Services, Inc.
 
29,972
10,714,391
 
 
 
261,677,198
Pharmaceuticals - 3.5%
 
 
 
Amneal Intermediate, Inc. (a)
 
45,895
277,665
Amphastar Pharmaceuticals, Inc. (a)
 
14,989
618,296
Amylyx Pharmaceuticals, Inc. (a)
 
15,627
28,285
ANI Pharmaceuticals, Inc. (a)
 
6,010
396,660
Arvinas Holding Co. LLC (a)
 
27,424
871,260
Assertio Holdings, Inc. (a)
 
34,756
30,763
Atea Pharmaceuticals, Inc. (a)
 
32,281
119,440
Axsome Therapeutics, Inc. (a)(b)
 
15,649
1,154,270
Bristol-Myers Squibb Co.
 
825,742
36,283,103
Cassava Sciences, Inc. (a)(b)
 
16,105
356,726
Catalent, Inc. (a)
 
73,324
4,095,145
Collegium Pharmaceutical, Inc. (a)
 
13,177
486,627
Corcept Therapeutics, Inc. (a)(b)
 
36,486
850,854
CorMedix, Inc. (a)(b)
 
22,069
115,973
Edgewise Therapeutics, Inc. (a)
 
25,793
462,726
Elanco Animal Health, Inc. (a)
 
198,689
2,614,747
Eli Lilly & Co.
 
323,360
252,576,496
Enliven Therapeutics, Inc. (a)
 
7,647
132,981
Esperion Therapeutics, Inc. (a)
 
62,567
123,257
Evolus, Inc. (a)
 
17,993
211,778
Eyepoint Pharmaceuticals, Inc. (a)(b)
 
14,973
263,525
Fulcrum Therapeutics, Inc. (a)
 
19,388
138,236
Harmony Biosciences Holdings, Inc. (a)
 
13,417
414,719
Harrow, Inc. (a)(b)
 
12,868
131,125
Innoviva, Inc. (a)(b)
 
22,823
344,856
Intra-Cellular Therapies, Inc. (a)
 
36,082
2,591,048
Jazz Pharmaceuticals PLC (a)
 
25,889
2,867,207
Johnson & Johnson
 
975,779
141,087,886
Ligand Pharmaceuticals, Inc. Class B (a)
 
6,608
461,833
Liquidia Corp. (a)
 
20,519
263,669
Longboard Pharmaceuticals, Inc. (a)
 
10,623
226,270
Marinus Pharmaceuticals, Inc. (a)
 
21,444
30,236
Merck & Co., Inc.
 
1,027,220
132,737,368
Mind Medicine (MindMed), Inc. (a)
 
13,977
133,061
Nuvation Bio, Inc. (a)
 
58,339
174,434
Ocular Therapeutix, Inc. (a)(b)
 
44,449
210,688
Omeros Corp. (a)(b)
 
25,320
79,758
Organon & Co.
 
102,983
1,916,514
Pacira Biosciences, Inc. (a)
 
18,750
492,188
Perrigo Co. PLC
 
54,620
1,783,889
Pfizer, Inc.
 
2,290,387
58,679,715
Phathom Pharmaceuticals, Inc. (a)(b)
 
14,069
127,043
Phibro Animal Health Corp. Class A
 
8,347
139,395
Pliant Therapeutics, Inc. (a)
 
21,024
248,504
Prestige Brands Holdings, Inc. (a)
 
20,022
1,436,779
Revance Therapeutics, Inc. (a)(b)
 
35,444
127,953
Royalty Pharma PLC
 
157,903
4,373,913
Scilex Holding Co. (a)(b)
 
35,733
30,487
Scilex Holding Co. (a)(i)
 
17,231
13,231
scPharmaceuticals, Inc. (a)(b)
 
9,159
40,941
SIGA Technologies, Inc.
 
16,348
143,535
Supernus Pharmaceuticals, Inc. (a)
 
22,043
663,494
Tarsus Pharmaceuticals, Inc. (a)(b)
 
10,692
336,050
Terns Pharmaceuticals, Inc. (a)
 
14,229
71,856
Theravance Biopharma, Inc. (a)(b)
 
13,684
115,493
Ventyx Biosciences, Inc. (a)
 
17,435
65,207
Verrica Pharmaceuticals, Inc. (a)(b)
 
8,131
56,632
Viatris, Inc.
 
490,040
5,669,763
WAVE Life Sciences (a)
 
34,162
168,419
Xeris Biopharma Holdings, Inc. (a)(b)
 
53,121
92,962
Xeris Biopharma Holdings, Inc. rights (a)(c)
 
8,992
0
Zevra Therapeutics, Inc. (a)(b)
 
15,167
69,465
Zoetis, Inc. Class A
 
186,358
29,675,648
 
 
 
690,502,047
TOTAL HEALTH CARE
 
 
2,395,493,895
INDUSTRIALS - 10.0%
 
 
 
Aerospace & Defense - 1.9%
 
 
 
AAR Corp. (a)
 
13,382
925,231
AeroVironment, Inc. (a)
 
11,282
1,802,751
AerSale Corp. (a)(b)
 
10,498
74,851
Archer Aviation, Inc. Class A (a)(b)
 
75,009
291,035
Astronics Corp. (a)
 
11,393
191,061
Axon Enterprise, Inc. (a)
 
28,579
8,964,089
BWX Technologies, Inc.
 
36,937
3,537,456
Cadre Holdings, Inc.
 
7,296
243,322
Curtiss-Wright Corp.
 
15,662
3,969,064
Ducommun, Inc. (a)
 
5,609
303,391
General Dynamics Corp.
 
91,929
26,391,897
General Electric Co.
 
441,418
71,430,261
HEICO Corp.
 
16,285
3,377,509
HEICO Corp. Class A
 
30,928
5,129,409
Hexcel Corp.
 
34,020
2,184,424
Howmet Aerospace, Inc.
 
158,958
10,610,447
Huntington Ingalls Industries, Inc.
 
16,142
4,470,204
Kratos Defense & Security Solutions, Inc. (a)
 
58,681
1,045,695
L3Harris Technologies, Inc.
 
76,858
16,451,455
Leonardo DRS, Inc. (a)
 
28,610
615,687
Lockheed Martin Corp.
 
87,100
40,495,403
Mercury Systems, Inc. (a)
 
21,050
593,610
Moog, Inc. Class A
 
11,595
1,844,417
National Presto Industries, Inc.
 
2,130
174,639
Northrop Grumman Corp.
 
57,190
27,738,866
Rocket Lab U.S.A., Inc. Class A (a)(b)
 
106,547
400,617
RTX Corp.
 
537,652
54,582,431
Spirit AeroSystems Holdings, Inc. Class A (a)
 
46,782
1,497,024
Terran Orbital Corp. Class A (a)(b)
 
60,078
79,303
Textron, Inc.
 
79,637
6,736,494
The Boeing Co. (a)
 
232,675
39,052,172
TransDigm Group, Inc.
 
22,551
28,144,325
Triumph Group, Inc. (a)
 
31,388
419,344
V2X, Inc. (a)
 
4,649
225,848
Virgin Galactic Holdings, Inc. (a)(b)
 
148,336
129,067
Woodward, Inc.
 
24,862
4,036,594
 
 
 
368,159,393
Air Freight & Logistics - 0.4%
 
 
 
Air Transport Services Group, Inc. (a)
 
20,729
265,746
C.H. Robinson Worldwide, Inc.
 
47,017
3,338,207
Expeditors International of Washington, Inc.
 
59,387
6,610,367
FedEx Corp.
 
93,264
24,414,650
Forward Air Corp.
 
12,427
273,643
GXO Logistics, Inc. (a)
 
47,968
2,382,091
Hub Group, Inc. Class A
 
25,195
1,013,343
United Parcel Service, Inc. Class B
 
293,442
43,276,826
 
 
 
81,574,873
Building Products - 0.8%
 
 
 
A.O. Smith Corp.
 
49,587
4,107,787
AAON, Inc.
 
27,190
2,558,307
Advanced Drain Systems, Inc.
 
27,841
4,371,037
Allegion PLC
 
36,121
4,390,869
American Woodmark Corp. (a)
 
6,494
597,968
Apogee Enterprises, Inc.
 
8,922
551,201
Armstrong World Industries, Inc.
 
17,832
2,048,540
AZZ, Inc.
 
10,124
725,182
Builders FirstSource, Inc. (a)
 
50,175
9,172,994
Carlisle Companies, Inc.
 
19,748
7,667,161
Carrier Global Corp.
 
338,750
20,829,738
CSW Industrials, Inc.
 
6,245
1,483,937
Fortune Brands Innovations, Inc.
 
50,808
3,714,065
Gibraltar Industries, Inc. (a)
 
12,282
877,672
Griffon Corp.
 
15,419
1,010,253
Hayward Holdings, Inc. (a)
 
50,847
690,502
Insteel Industries, Inc.
 
7,888
253,205
Janus International Group, Inc. (a)
 
36,811
530,447
Jeld-Wen Holding, Inc. (a)
 
34,353
704,237
Johnson Controls International PLC
 
276,525
17,993,482
Lennox International, Inc.
 
13,100
6,070,802
Masco Corp.
 
89,976
6,158,857
Masonite International Corp. (a)
 
8,758
1,160,873
MasterBrand, Inc. (a)
 
51,203
853,554
Owens Corning
 
36,336
6,112,079
Quanex Building Products Corp.
 
13,427
446,045
Resideo Technologies, Inc. (a)
 
58,946
1,151,215
Simpson Manufacturing Co. Ltd.
 
17,213
2,993,169
Tecnoglass, Inc.
 
8,178
454,288
The AZEK Co., Inc. (a)
 
58,805
2,683,860
Trane Technologies PLC
 
92,244
29,272,711
Trex Co., Inc. (a)
 
44,658
3,954,466
UFP Industries, Inc.
 
24,934
2,810,062
Zurn Elkay Water Solutions Cor
 
56,874
1,779,019
 
 
 
150,179,584
Commercial Services & Supplies - 0.7%
 
 
 
ABM Industries, Inc.
 
25,327
1,106,790
ACCO Brands Corp.
 
38,511
185,623
ACV Auctions, Inc. Class A (a)
 
54,800
956,260
Aris Water Solution, Inc. Class A
 
10,105
141,773
Brady Corp. Class A
 
17,986
1,061,174
BrightView Holdings, Inc. (a)
 
16,057
180,641
Casella Waste Systems, Inc. Class A (a)
 
22,958
2,075,403
CECO Environmental Corp. (a)
 
12,076
261,083
Cimpress PLC (a)
 
7,242
617,525
Cintas Corp.
 
34,895
22,972,774
Clean Harbors, Inc. (a)
 
20,312
3,848,108
Copart, Inc.
 
354,374
19,246,052
CoreCivic, Inc. (a)
 
45,877
683,567
Deluxe Corp.
 
17,679
349,160
Driven Brands Holdings, Inc. (a)
 
24,385
349,437
Ennis, Inc.
 
10,516
209,268
Enviri Corp. (a)
 
32,190
250,438
Healthcare Services Group, Inc. (a)
 
30,195
320,671
HNI Corp.
 
18,823
789,625
Interface, Inc.
 
23,501
359,330
Liquidity Services, Inc. (a)
 
9,288
160,311
Matthews International Corp. Class A
 
12,378
333,958
Millerknoll, Inc.
 
29,389
747,362
Montrose Environmental Group, Inc. (a)
 
11,350
492,817
MSA Safety, Inc.
 
15,418
2,781,407
OpenLane, Inc. (a)
 
43,425
746,042
Pitney Bowes, Inc.
 
61,841
263,443
RB Global, Inc.
 
74,029
5,298,996
Republic Services, Inc.
 
82,493
15,813,908
Rollins, Inc.
 
114,683
5,110,274
SP Plus Corp. (a)
 
7,941
405,467
Steelcase, Inc. Class A
 
37,892
455,841
Stericycle, Inc. (a)
 
37,302
1,668,518
Tetra Tech, Inc.
 
21,920
4,268,262
The Brink's Co.
 
18,224
1,593,871
The GEO Group, Inc. (a)
 
49,324
732,955
UniFirst Corp.
 
6,095
975,992
Veralto Corp.
 
89,216
8,357,755
Vestis Corp.
 
52,956
975,450
Viad Corp. (a)
 
8,464
291,839
VSE Corp.
 
5,379
419,939
Waste Management, Inc.
 
148,208
30,830,228
 
 
 
138,689,337
Construction & Engineering - 0.3%
 
 
 
AECOM
 
55,628
5,137,802
Ameresco, Inc. Class A (a)(b)
 
13,222
276,736
API Group Corp. (a)
 
85,549
3,299,625
Arcosa, Inc.
 
19,658
1,494,401
Argan, Inc.
 
5,053
304,494
Bowman Consulting Group Ltd. (a)
 
4,383
142,404
Comfort Systems U.S.A., Inc.
 
14,509
4,489,230
Construction Partners, Inc. Class A (a)
 
17,625
910,155
Dycom Industries, Inc. (a)
 
11,831
1,656,577
EMCOR Group, Inc.
 
19,103
6,823,019
Fluor Corp. (a)
 
68,684
2,770,026
Granite Construction, Inc.
 
17,595
976,523
Great Lakes Dredge & Dock Corp. (a)
 
25,889
170,867
IES Holdings, Inc. (a)
 
3,351
452,787
Limbach Holdings, Inc. (a)
 
4,012
181,864
MasTec, Inc. (a)
 
24,427
2,166,431
Matrix Service Co. (a)
 
9,717
109,413
MDU Resources Group, Inc.
 
81,998
2,025,351
MYR Group, Inc. (a)
 
6,779
1,127,009
Primoris Services Corp.
 
21,519
1,002,785
Quanta Services, Inc.
 
58,953
15,242,888
Sterling Construction Co., Inc. (a)
 
12,393
1,259,129
Tutor Perini Corp. (a)
 
17,240
286,701
Valmont Industries, Inc.
 
8,418
1,724,006
Willscot Mobile Mini Holdings (a)
 
78,254
2,892,268
 
 
 
56,922,491
Electrical Equipment - 0.9%
 
 
 
Acuity Brands, Inc.
 
12,305
3,055,332
Allient, Inc.
 
5,559
163,379
American Superconductor Corp. (a)
 
14,609
180,421
AMETEK, Inc.
 
93,538
16,337,347
Array Technologies, Inc. (a)
 
57,542
710,068
Atkore, Inc.
 
14,829
2,599,524
Blink Charging Co. (a)
 
25,346
64,125
Bloom Energy Corp. Class A (a)(b)
 
84,864
944,536
ChargePoint Holdings, Inc. Class A (a)(b)
 
141,698
188,458
Eaton Corp. PLC
 
161,929
51,535,524
Emerson Electric Co.
 
231,913
24,995,583
Encore Wire Corp.
 
6,345
1,772,539
Energy Vault Holdings, Inc. Class A (a)(b)
 
28,925
36,735
EnerSys
 
16,369
1,480,576
Enovix Corp. (a)(b)
 
55,333
346,385
Eos Energy Enterprises, Inc. (a)(b)
 
70,215
54,290
Fluence Energy, Inc. (a)
 
23,586
420,774
FuelCell Energy, Inc. (a)(b)
 
181,191
168,109
GE Vernova LLC
 
110,445
16,976,501
Generac Holdings, Inc. (a)
 
24,810
3,373,168
GrafTech International Ltd.
 
73,021
125,596
Hubbell, Inc. Class B
 
21,855
8,097,715
LSI Industries, Inc.
 
11,095
161,987
Net Power, Inc. Class A (a)(b)
 
10,310
112,379
Nextracker, Inc. Class A (a)
 
49,547
2,120,116
NuScale Power Corp. (a)(b)
 
19,689
114,196
nVent Electric PLC
 
67,970
4,898,598
Plug Power, Inc. (a)(b)
 
219,238
506,440
Powell Industries, Inc.
 
3,721
532,103
Preformed Line Products Co.
 
1,169
141,484
Regal Rexnord Corp.
 
27,105
4,373,934
Rockwell Automation, Inc.
 
46,479
12,593,950
Sensata Technologies, Inc. PLC
 
61,003
2,337,025
Shoals Technologies Group, Inc. (a)
 
69,244
585,112
Stem, Inc. (a)(b)
 
59,861
110,144
SunPower Corp. (a)(b)
 
31,701
65,304
Sunrun, Inc. (a)(b)
 
87,823
903,699
Thermon Group Holdings, Inc. (a)
 
13,539
432,300
TPI Composites, Inc. (a)(b)
 
18,723
59,539
Vertiv Holdings Co.
 
142,346
13,238,178
Vicor Corp. (a)
 
9,121
295,338
 
 
 
177,208,511
Ground Transportation - 1.0%
 
 
 
ArcBest Corp.
 
9,572
1,061,631
Avis Budget Group, Inc.
 
7,427
708,907
Covenant Transport Group, Inc. Class A
 
3,137
141,761
CSX Corp.
 
800,618
26,596,530
FTAI Infrastructure LLC
 
40,168
290,816
Heartland Express, Inc.
 
18,508
183,970
Hertz Global Holdings, Inc. (a)(b)
 
52,907
240,727
J.B. Hunt Transport Services, Inc.
 
33,377
5,426,099
Knight-Swift Transportation Holdings, Inc. Class A
 
65,040
3,006,799
Landstar System, Inc.
 
15,020
2,619,638
Lyft, Inc. (a)
 
139,726
2,185,315
Marten Transport Ltd.
 
23,341
394,930
Norfolk Southern Corp.
 
91,669
21,113,204
Old Dominion Freight Lines, Inc.
 
72,563
13,185,423
RXO, Inc. (a)
 
47,170
891,985
Ryder System, Inc.
 
17,869
2,177,338
Saia, Inc. (a)
 
10,799
4,285,367
Schneider National, Inc. Class B
 
15,020
310,614
U-Haul Holding Co. (a)(b)
 
3,986
252,035
U-Haul Holding Co. (non-vtg.)
 
39,721
2,435,692
Uber Technologies, Inc. (a)
 
834,570
55,306,954
Union Pacific Corp.
 
247,141
58,611,960
Werner Enterprises, Inc.
 
25,567
874,391
XPO, Inc. (a)
 
47,188
5,070,822
 
 
 
207,372,908
Industrial Conglomerates - 0.4%
 
 
 
3M Co.
 
224,382
21,655,107
Honeywell International, Inc.
 
267,317
51,520,005
 
 
 
73,175,112
Machinery - 2.0%
 
 
 
3D Systems Corp. (a)
 
55,288
185,215
AGCO Corp.
 
25,735
2,938,680
Alamo Group, Inc.
 
4,166
809,787
Albany International Corp. Class A
 
12,567
1,002,218
Allison Transmission Holdings, Inc.
 
36,011
2,648,609
Astec Industries, Inc.
 
9,316
389,409
Atmus Filtration Technologies, Inc.
 
33,563
1,016,623
Barnes Group, Inc.
 
20,371
707,281
Blue Bird Corp. (a)
 
7,011
231,048
Caterpillar, Inc.
 
206,436
69,067,293
Chart Industries, Inc. (a)
 
16,897
2,434,182
CNH Industrial NV
 
394,504
4,497,346
Columbus McKinnon Corp. (NY Shares)
 
11,589
478,278
Crane Co.
 
19,739
2,763,657
Cummins, Inc.
 
55,287
15,618,025
Deere & Co.
 
105,585
41,327,025
Desktop Metal, Inc. (a)(b)
 
106,752
83,523
Donaldson Co., Inc.
 
49,665
3,585,813
Douglas Dynamics, Inc.
 
9,262
209,692
Dover Corp.
 
56,934
10,208,266
Energy Recovery, Inc. (a)
 
22,671
337,798
Enerpac Tool Group Corp. Class A
 
21,917
780,903
EnPro Industries, Inc.
 
8,428
1,265,296
ESAB Corp.
 
22,854
2,419,782
ESCO Technologies, Inc.
 
10,398
1,054,877
Federal Signal Corp.
 
24,535
1,994,696
Flowserve Corp.
 
52,835
2,491,699
Fortive Corp.
 
142,028
10,690,448
Franklin Electric Co., Inc.
 
15,984
1,538,780
Gates Industrial Corp. PLC (a)
 
67,084
1,182,020
Gorman-Rupp Co.
 
9,822
325,796
Graco, Inc.
 
68,886
5,524,657
Graham Corp. (a)
 
4,067
113,225
Helios Technologies, Inc.
 
13,313
600,416
Hillenbrand, Inc.
 
28,375
1,354,055
Hillman Solutions Corp. Class A (a)
 
78,671
752,095
Hyliion Holdings Corp. Class A (a)(b)
 
53,166
68,584
Hyster-Yale Materials Handling, Inc. Class A
 
4,397
257,532
IDEX Corp.
 
30,902
6,812,655
Illinois Tool Works, Inc.
 
110,020
26,856,982
Ingersoll Rand, Inc.
 
163,993
15,303,827
ITT, Inc.
 
33,866
4,380,228
John Bean Technologies Corp.
 
12,834
1,143,381
Kadant, Inc.
 
4,725
1,293,658
Kennametal, Inc.
 
31,921
751,101
Lincoln Electric Holdings, Inc.
 
23,439
5,145,564
Lindsay Corp.
 
4,447
516,519
Luxfer Holdings PLC sponsored
 
10,832
104,312
Manitowoc Co., Inc. (a)
 
14,122
170,876
Microvast Holdings, Inc. (a)(b)
 
88,570
34,711
Middleby Corp. (a)
 
21,601
3,001,891
Miller Industries, Inc.
 
4,634
225,722
Mueller Industries, Inc.
 
45,782
2,555,551
Mueller Water Products, Inc. Class A
 
62,938
996,938
Nikola Corp. (a)(b)
 
424,597
263,505
Nordson Corp.
 
22,220
5,736,982
Oshkosh Corp.
 
26,370
2,960,560
Otis Worldwide Corp.
 
164,088
14,964,826
PACCAR, Inc.
 
212,010
22,496,381
Parker Hannifin Corp.
 
52,002
28,336,410
Pentair PLC
 
66,673
5,273,168
Proto Labs, Inc. (a)
 
10,465
318,973
RBC Bearings, Inc. (a)
 
11,694
2,859,768
REV Group, Inc.
 
15,665
342,437
Shyft Group, Inc. (The)
 
12,723
138,426
Snap-On, Inc.
 
21,560
5,777,218
SPX Technologies, Inc. (a)
 
18,404
2,241,791
Standex International Corp.
 
4,788
827,749
Stanley Black & Decker, Inc.
 
63,268
5,782,695
Symbotic, Inc. (a)(b)
 
13,568
523,318
Tennant Co.
 
7,532
877,327
Terex Corp.
 
27,016
1,514,247
The Greenbrier Companies, Inc.
 
12,537
619,202
Timken Co.
 
26,218
2,339,170
Titan International, Inc. (a)
 
20,569
226,670
Toro Co.
 
42,903
3,757,874
Trinity Industries, Inc.
 
32,977
858,062
Wabash National Corp.
 
18,322
423,421
Watts Water Technologies, Inc. Class A
 
11,027
2,188,418
Westinghouse Air Brake Tech Co.
 
72,679
11,707,133
Xylem, Inc.
 
97,612
12,757,888
 
 
 
398,362,164
Marine Transportation - 0.0%
 
 
 
Genco Shipping & Trading Ltd.
 
16,981
362,375
Kirby Corp. (a)
 
24,138
2,634,180
Matson, Inc.
 
14,094
1,519,051
Pangaea Logistics Solutions Ltd.
 
14,119
101,657
 
 
 
4,617,263
Passenger Airlines - 0.2%
 
 
 
Alaska Air Group, Inc. (a)
 
50,808
2,185,760
Allegiant Travel Co.
 
5,779
315,302
American Airlines Group, Inc. (a)
 
267,721
3,616,911
Blade Air Mobility, Inc. (a)(b)
 
21,682
69,166
Delta Air Lines, Inc.
 
260,780
13,057,255
Frontier Group Holdings, Inc. (a)(b)
 
16,827
101,635
Hawaiian Holdings, Inc. (a)
 
20,880
265,176
JetBlue Airways Corp. (a)(b)
 
134,141
761,921
Joby Aviation, Inc. (a)(b)
 
148,728
751,076
SkyWest, Inc. (a)
 
16,543
1,208,135
Southwest Airlines Co.
 
242,839
6,299,244
Spirit Airlines, Inc. (b)
 
44,507
157,110
Sun Country Airlines Holdings, Inc. (a)
 
15,707
209,060
United Airlines Holdings, Inc. (a)
 
133,371
6,863,272
 
 
 
35,861,023
Professional Services - 0.9%
 
 
 
Alight, Inc. Class A (a)
 
147,619
1,331,523
ASGN, Inc. (a)
 
19,037
1,836,119
Asure Software, Inc. (a)
 
9,339
69,015
Automatic Data Processing, Inc.
 
166,340
40,235,983
Barrett Business Services, Inc.
 
2,687
326,471
Booz Allen Hamilton Holding Corp. Class A
 
52,506
7,753,561
Broadridge Financial Solutions, Inc.
 
47,840
9,252,734
CACI International, Inc. Class A (a)
 
8,985
3,614,037
CBIZ, Inc. (a)
 
20,012
1,424,454
Clarivate PLC (a)(b)
 
173,863
1,175,314
Concentrix Corp.
 
18,916
1,034,138
Conduent, Inc. (a)
 
67,530
212,720
CRA International, Inc.
 
2,829
410,460
CSG Systems International, Inc.
 
11,436
540,237
Dayforce, Inc. (a)
 
64,417
3,953,271
Dun & Bradstreet Holdings, Inc.
 
93,844
853,980
Equifax, Inc.
 
50,101
11,031,739
ExlService Holdings, Inc. (a)
 
66,607
1,931,603
Exponent, Inc.
 
20,408
1,875,699
First Advantage Corp. (b)
 
20,544
334,867
FiscalNote Holdings, Inc. Class A (a)(b)
 
25,446
34,607
Forrester Research, Inc. (a)
 
4,679
85,111
Franklin Covey Co. (a)
 
4,637
180,565
FTI Consulting, Inc. (a)
 
14,036
3,001,318
Genpact Ltd.
 
66,574
2,046,485
Heidrick & Struggles International, Inc.
 
8,079
238,169
HireRight Holdings Corp. (a)
 
4,332
61,948
Huron Consulting Group, Inc. (a)
 
7,555
704,428
ICF International, Inc.
 
7,021
1,013,060
Innodata, Inc. (a)(b)
 
10,000
58,400
Insperity, Inc.
 
14,232
1,464,900
Jacobs Solutions, Inc.
 
50,978
7,316,872
KBR, Inc.
 
55,097
3,577,999
Kelly Services, Inc. Class A (non-vtg.)
 
12,940
296,844
Kforce, Inc.
 
7,186
443,807
Korn Ferry
 
21,215
1,288,175
LegalZoom.com, Inc. (a)
 
47,792
571,114
Leidos Holdings, Inc.
 
55,628
7,800,158
ManpowerGroup, Inc.
 
19,682
1,485,007
Maximus, Inc.
 
24,590
1,974,085
NV5 Global, Inc. (a)
 
5,135
478,787
Parsons Corp. (a)
 
16,500
1,295,415
Paychex, Inc.
 
130,019
15,447,557
Paycom Software, Inc.
 
19,669
3,697,379
Paycor HCM, Inc. (a)
 
25,854
449,084
Paylocity Holding Corp. (a)
 
17,484
2,712,817
Planet Labs PBC Class A (a)(b)
 
82,472
139,378
RCM Technologies, Inc. (a)
 
2,060
39,037
Resources Connection, Inc.
 
12,987
143,506
Robert Half, Inc.
 
42,014
2,904,848
Science Applications International Corp.
 
20,983
2,700,512
Spire Global, Inc. (a)(b)
 
7,295
76,160
SS&C Technologies Holdings, Inc.
 
88,320
5,466,125
Sterling Check Corp. (a)
 
12,206
184,677
TaskUs, Inc. (a)
 
7,799
89,377
TransUnion
 
79,045
5,770,285
TriNet Group, Inc.
 
12,609
1,265,565
TrueBlue, Inc. (a)
 
12,632
131,625
Ttec Holdings, Inc.
 
7,093
51,637
Upwork, Inc. (a)
 
50,497
590,815
Verisk Analytics, Inc.
 
58,710
12,796,432
Verra Mobility Corp. (a)
 
66,826
1,575,757
 
 
 
180,847,752
Trading Companies & Distributors - 0.5%
 
 
 
Air Lease Corp. Class A
 
41,601
2,090,034
Alta Equipment Group, Inc.
 
9,113
101,245
Applied Industrial Technologies, Inc.
 
16,206
2,969,750
Beacon Roofing Supply, Inc. (a)
 
25,547
2,517,146
BlueLinx Corp. (a)
 
3,522
386,258
Boise Cascade Co.
 
15,969
2,112,220
Core & Main, Inc. (a)
 
69,908
3,947,705
Custom Truck One Source, Inc. Class A (a)
 
24,476
122,135
Distribution Solutions Group I (a)
 
4,348
143,354
DNOW, Inc. (a)
 
42,895
605,248
DXP Enterprises, Inc. (a)
 
5,327
259,745
Fastenal Co.
 
231,983
15,760,925
Ferguson PLC
 
82,651
17,348,445
FTAI Aviation Ltd.
 
40,403
2,836,695
GATX Corp.
 
14,293
1,748,891
Global Industrial Co.
 
5,071
195,284
GMS, Inc. (a)
 
16,080
1,487,722
H&E Equipment Services, Inc.
 
12,798
618,015
Herc Holdings, Inc.
 
11,399
1,630,399
Hudson Technologies, Inc. (a)
 
15,862
157,351
Karat Packaging, Inc.
 
2,302
62,384
McGrath RentCorp.
 
9,921
1,058,174
MRC Global, Inc. (a)
 
33,525
376,486
MSC Industrial Direct Co., Inc. Class A
 
18,411
1,679,820
Rush Enterprises, Inc. Class A
 
24,837
1,090,841
SiteOne Landscape Supply, Inc. (a)
 
18,193
2,854,300
Titan Machinery, Inc. (a)
 
8,122
180,796
Transcat, Inc. (a)
 
3,509
376,761
United Rentals, Inc.
 
27,268
18,214,751
W.W. Grainger, Inc.
 
17,924
16,514,277
Watsco, Inc.
 
12,800
5,730,816
WESCO International, Inc.
 
17,708
2,704,897
Xometry, Inc. (a)(b)
 
16,267
290,691
 
 
 
108,173,561
TOTAL INDUSTRIALS
 
 
1,981,143,972
INFORMATION TECHNOLOGY - 27.7%
 
 
 
Communications Equipment - 0.7%
 
 
 
ADTRAN Holdings, Inc.
 
28,623
125,369
Applied Optoelectronics, Inc. (a)
 
13,642
134,374
Arista Networks, Inc. (a)
 
102,265
26,237,108
Aviat Networks, Inc. (a)
 
4,993
167,016
Calix, Inc. (a)
 
25,456
705,895
Ciena Corp. (a)
 
58,453
2,702,282
Cisco Systems, Inc.
 
1,647,273
77,388,886
Clearfield, Inc. (a)(b)
 
5,064
152,528
CommScope Holding Co., Inc. (a)
 
79,264
70,862
Comtech Telecommunications Corp. (a)
 
10,348
19,454
Digi International, Inc. (a)
 
14,724
451,438
Extreme Networks, Inc. (a)
 
52,170
584,304
F5, Inc. (a)
 
23,712
3,919,831
Harmonic, Inc. (a)
 
45,799
491,881
Infinera Corp. (a)(b)
 
79,185
381,672
Juniper Networks, Inc.
 
130,263
4,535,758
Lumentum Holdings, Inc. (a)
 
27,006
1,181,783
Motorola Solutions, Inc.
 
67,227
22,800,037
NETGEAR, Inc. (a)
 
11,931
176,340
NetScout Systems, Inc. (a)
 
28,670
552,184
ViaSat, Inc. (a)(b)
 
30,479
484,921
Viavi Solutions, Inc. (a)
 
89,222
704,854
 
 
 
143,968,777
Electronic Equipment, Instruments & Components - 0.8%
 
 
 
Advanced Energy Industries, Inc.
 
15,089
1,446,130
Amphenol Corp. Class A
 
243,206
29,371,989
Arlo Technologies, Inc. (a)
 
38,055
471,121
Arrow Electronics, Inc. (a)
 
21,719
2,772,865
Avnet, Inc.
 
36,306
1,774,274
Badger Meter, Inc.
 
11,834
2,164,675
Bel Fuse, Inc. Class B (non-vtg.)
 
3,940
231,357
Belden, Inc.
 
16,805
1,365,742
Benchmark Electronics, Inc.
 
14,411
435,356
CDW Corp.
 
54,257
13,122,598
Cognex Corp.
 
69,396
2,882,710
Coherent Corp. (a)
 
53,249
2,908,993
Corning, Inc.
 
312,220
10,421,904
Crane NXT Co.
 
19,483
1,184,761
CTS Corp.
 
12,659
579,149
Daktronics, Inc. (a)
 
16,448
155,434
ePlus, Inc. (a)
 
10,755
826,844
Evolv Technologies Holdings, Inc. (a)(b)
 
32,992
128,999
Fabrinet (a)
 
14,630
2,532,014
FARO Technologies, Inc. (a)(b)
 
7,527
141,131
Insight Enterprises, Inc. (a)
 
11,196
2,044,054
IPG Photonics Corp. (a)
 
11,917
1,000,790
Itron, Inc. (a)
 
18,364
1,691,692
Jabil, Inc.
 
51,878
6,088,402
Keysight Technologies, Inc. (a)
 
71,075
10,514,836
Kimball Electronics, Inc. (a)
 
10,012
209,551
Knowles Corp. (a)
 
36,178
572,698
Lightwave Logic, Inc. (a)(b)
 
45,403
173,439
Littelfuse, Inc.
 
10,041
2,315,856
Luna Innovations, Inc. (a)(b)
 
12,640
26,038
Methode Electronics, Inc. Class A
 
14,350
174,927
MicroVision, Inc. (a)(b)
 
74,229
107,632
Mirion Technologies, Inc. Class A (a)
 
72,988
793,380
Napco Security Technologies, Inc.
 
11,822
481,155
nLIGHT, Inc. (a)
 
18,864
214,861
Novanta, Inc. (a)
 
14,428
2,257,982
OSI Systems, Inc. (a)
 
6,322
830,964
Ouster, Inc. (a)(b)
 
14,193
128,731
Par Technology Corp. (a)(b)
 
11,297
477,637
PC Connection, Inc.
 
4,682
290,144
Plexus Corp. (a)
 
11,198
1,131,110
Richardson Electronics Ltd.
 
4,744
49,954
Rogers Corp. (a)
 
6,756
804,572
Sanmina Corp. (a)
 
22,489
1,364,408
ScanSource, Inc. (a)
 
10,181
423,733
Smartrent, Inc. (a)(b)
 
75,148
174,343
TD SYNNEX Corp.
 
29,862
3,518,938
TE Connectivity Ltd.
 
125,400
17,741,592
Teledyne Technologies, Inc. (a)
 
19,172
7,313,735
Trimble, Inc. (a)
 
101,392
6,090,617
TTM Technologies, Inc. (a)
 
41,221
615,430
Vishay Intertechnology, Inc.
 
50,930
1,178,520
Vishay Precision Group, Inc. (a)
 
5,020
165,660
Vontier Corp.
 
62,360
2,533,687
Vuzix Corp. (a)(b)
 
20,734
27,576
Zebra Technologies Corp. Class A (a)
 
21,001
6,606,075
 
 
 
155,052,765
IT Services - 1.3%
 
 
 
Accenture PLC Class A
 
254,312
76,525,024
Akamai Technologies, Inc. (a)
 
61,498
6,206,993
Amdocs Ltd.
 
49,148
4,127,941
Applied Digital Corp. (a)(b)
 
31,088
84,093
BigCommerce Holdings, Inc. (a)
 
27,048
153,092
Cloudflare, Inc. (a)
 
120,814
10,559,144
Cognizant Technology Solutions Corp. Class A
 
202,405
13,293,960
Couchbase, Inc. (a)
 
12,223
295,063
Digitalocean Holdings, Inc. (a)
 
20,534
674,747
DXC Technology Co. (a)
 
73,722
1,436,842
EPAM Systems, Inc. (a)
 
23,593
5,550,489
Fastly, Inc. Class A (a)
 
48,850
617,953
Gartner, Inc. (a)
 
31,578
13,028,767
GoDaddy, Inc. (a)
 
57,183
6,998,056
Grid Dynamics Holdings, Inc. (a)
 
22,639
221,183
Hackett Group, Inc.
 
10,052
218,028
IBM Corp.
 
371,073
61,672,333
Kyndryl Holdings, Inc. (a)
 
92,905
1,826,512
MongoDB, Inc. Class A (a)
 
29,286
10,694,661
Okta, Inc. (a)
 
64,337
5,982,054
Perficient, Inc. (a)
 
14,039
663,483
Rackspace Technology, Inc. (a)(b)
 
24,200
41,624
Snowflake, Inc. (a)
 
133,663
20,744,498
Squarespace, Inc. Class A (a)
 
20,583
717,523
Thoughtworks Holding, Inc. (a)
 
34,285
79,541
Twilio, Inc. Class A (a)
 
73,895
4,424,833
Unisys Corp. (a)
 
28,529
154,912
VeriSign, Inc. (a)
 
35,903
6,084,840
 
 
 
253,078,189
Semiconductors & Semiconductor Equipment - 9.2%
 
 
 
ACM Research, Inc. (a)
 
18,819
480,261
Advanced Micro Devices, Inc. (a)
 
655,287
103,784,355
AEHR Test Systems (a)(b)
 
10,740
128,665
Allegro MicroSystems LLC (a)
 
28,807
855,280
Alpha & Omega Semiconductor Ltd. (a)
 
9,123
199,520
Ambarella, Inc. (a)
 
15,257
701,364
Amkor Technology, Inc.
 
41,666
1,347,895
Analog Devices, Inc.
 
201,133
40,349,291
Applied Materials, Inc.
 
337,443
67,033,052
Atomera, Inc. (a)(b)
 
10,403
48,270
Axcelis Technologies, Inc. (a)
 
13,182
1,364,601
AXT, Inc. (a)
 
16,089
48,267
Broadcom, Inc.
 
178,442
232,022,779
CEVA, Inc. (a)
 
9,511
192,788
Cirrus Logic, Inc. (a)
 
21,669
1,919,223
Cohu, Inc. (a)
 
19,171
581,265
Credo Technology Group Holding Ltd. (a)
 
50,867
908,993
Diodes, Inc. (a)
 
18,522
1,352,291
Enphase Energy, Inc. (a)
 
55,231
6,006,924
Entegris, Inc.
 
61,103
8,121,811
First Solar, Inc. (a)
 
43,340
7,640,842
FormFactor, Inc. (a)
 
31,499
1,404,540
Ichor Holdings Ltd. (a)
 
11,869
460,280
Impinj, Inc. (a)
 
9,159
1,459,761
indie Semiconductor, Inc. (a)(b)
 
54,898
308,527
Intel Corp.
 
1,714,933
52,254,009
Intest Corp. (a)
 
4,554
51,324
KLA Corp.
 
54,846
37,804,799
Kopin Corp. (a)
 
41,649
32,736
Kulicke & Soffa Industries, Inc.
 
22,791
1,054,767
Lam Research Corp.
 
53,165
47,551,308
Lattice Semiconductor Corp. (a)
 
56,297
3,861,974
MACOM Technology Solutions Holdings, Inc. (a)
 
22,080
2,251,056
Marvell Technology, Inc.
 
350,862
23,125,314
MaxLinear, Inc. Class A (a)
 
30,045
624,636
Microchip Technology, Inc.
 
219,410
20,181,332
Micron Technology, Inc.
 
447,753
50,578,179
MKS Instruments, Inc.
 
26,004
3,093,956
Monolithic Power Systems, Inc.
 
19,464
13,027,839
Navitas Semiconductor Corp. (a)(b)
 
49,507
214,365
NVE Corp. (b)
 
1,956
159,218
NVIDIA Corp.
 
1,001,651
865,446,497
NXP Semiconductors NV
 
104,536
26,781,078
ON Semiconductor Corp. (a)
 
173,196
12,151,431
Onto Innovation, Inc. (a)
 
19,818
3,676,041
PDF Solutions, Inc. (a)
 
12,367
371,999
Photronics, Inc. (a)
 
25,260
692,377
Pixelworks, Inc. (a)
 
21,056
37,690
Power Integrations, Inc.
 
22,922
1,529,356
Qorvo, Inc. (a)
 
39,511
4,616,465
Qualcomm, Inc.
 
452,464
75,041,154
Rambus, Inc. (a)
 
43,345
2,376,173
Rigetti Computing, Inc. Class A (a)(b)
 
42,707
54,665
Semtech Corp. (a)
 
25,847
972,364
Silicon Laboratories, Inc. (a)
 
12,814
1,556,773
SiTime Corp. (a)
 
7,022
625,801
SkyWater Technology, Inc. (a)(b)
 
7,265
74,539
Skyworks Solutions, Inc.
 
65,489
6,980,473
SMART Global Holdings, Inc. (a)
 
20,920
382,208
SolarEdge Technologies, Inc. (a)
 
22,992
1,348,481
Synaptics, Inc. (a)
 
15,845
1,425,416
Teradyne, Inc.
 
62,369
7,254,762
Texas Instruments, Inc.
 
368,702
65,046,407
Ultra Clean Holdings, Inc. (a)
 
18,165
759,842
Universal Display Corp.
 
17,564
2,774,761
Veeco Instruments, Inc. (a)(b)
 
22,617
799,285
Wolfspeed, Inc. (a)(b)
 
50,753
1,371,854
 
 
 
1,818,735,549
Software - 10.2%
 
 
 
8x8, Inc. (a)
 
47,261
104,447
A10 Networks, Inc.
 
28,054
366,385
ACI Worldwide, Inc. (a)
 
43,729
1,491,159
Adeia, Inc.
 
42,946
422,589
Adobe, Inc. (a)
 
183,322
84,846,921
Agilysys, Inc. (a)
 
8,136
675,695
Alarm.com Holdings, Inc. (a)
 
20,047
1,333,126
Alkami Technology, Inc. (a)
 
16,252
391,186
Altair Engineering, Inc. Class A (a)(b)
 
22,024
1,771,831
American Software, Inc. Class A
 
12,646
127,851
Amplitude, Inc. (a)
 
29,088
284,772
ANSYS, Inc. (a)
 
35,208
11,438,375
AppFolio, Inc. (a)
 
8,245
1,869,801
Appian Corp. Class A (a)
 
16,826
629,965
AppLovin Corp. (a)
 
73,942
5,218,087
Asana, Inc. (a)(b)
 
33,210
493,833
Aspen Technology, Inc. (a)
 
11,271
2,218,922
Atlassian Corp. PLC (a)(b)
 
63,740
10,982,402
Aurora Innovation, Inc. (a)(b)
 
318,209
883,030
Autodesk, Inc. (a)
 
86,739
18,462,396
AvePoint, Inc. (a)
 
38,133
296,293
Bentley Systems, Inc. Class B (b)
 
94,201
4,948,379
Bill Holdings, Inc. (a)
 
38,568
2,405,100
Blackbaud, Inc. (a)
 
16,927
1,318,952
BlackLine, Inc. (a)
 
20,441
1,186,600
Blend Labs, Inc. (a)
 
66,973
164,084
Box, Inc. Class A (a)(b)
 
57,660
1,500,313
Braze, Inc. (a)
 
20,326
851,659
C3.ai, Inc. (a)(b)
 
38,492
867,225
Cadence Design Systems, Inc. (a)
 
110,447
30,442,507
CCC Intelligent Solutions Holdings, Inc. Class A (a)
 
111,831
1,254,744
Cerence, Inc. (a)
 
16,941
154,333
Cipher Mining, Inc. (a)(b)
 
17,675
65,751
Cleanspark, Inc. (a)(b)
 
79,852
1,307,976
Clear Secure, Inc.
 
34,116
596,007
Clearwater Analytics Holdings, Inc. (a)
 
57,867
913,141
CommVault Systems, Inc. (a)
 
17,613
1,804,804
Confluent, Inc. (a)
 
88,614
2,491,826
Consensus Cloud Solutions, Inc. (a)
 
6,757
78,651
Crowdstrike Holdings, Inc. (a)
 
92,363
27,019,872
CS Disco, Inc. (a)
 
9,862
74,458
D-Wave Quantum, Inc. (a)(b)
 
31,591
43,280
Daily Journal Corp. (a)
 
386
129,387
Datadog, Inc. Class A (a)
 
122,664
15,394,332
Digimarc Corp. (a)(b)
 
5,656
119,568
Digital Turbine, Inc. (a)
 
34,088
65,108
DocuSign, Inc. (a)
 
83,074
4,701,988
Dolby Laboratories, Inc. Class A
 
23,972
1,861,666
Domo, Inc. Class B (a)
 
12,846
96,730
DoubleVerify Holdings, Inc. (a)
 
56,371
1,651,670
Dropbox, Inc. Class A (a)
 
103,039
2,386,383
Dynatrace, Inc. (a)
 
97,948
4,438,024
E2open Parent Holdings, Inc. (a)(b)
 
70,108
340,024
Elastic NV (a)
 
33,279
3,401,779
Enfusion, Inc. Class A (a)
 
15,316
142,592
Envestnet, Inc. (a)
 
19,931
1,237,117
Everbridge, Inc. (a)
 
16,660
578,935
Fair Isaac Corp. (a)
 
10,078
11,421,700
Five9, Inc. (a)
 
29,234
1,683,001
Fortinet, Inc. (a)
 
258,885
16,356,354
Freshworks, Inc. (a)
 
67,391
1,202,929
Gen Digital, Inc.
 
228,803
4,608,092
GitLab, Inc. (a)
 
36,108
1,894,587
Guidewire Software, Inc. (a)
 
33,030
3,646,512
HashiCorp, Inc. (a)
 
47,326
1,536,202
HubSpot, Inc. (a)
 
20,428
12,356,284
Informatica, Inc. (a)(b)
 
15,877
491,711
Intapp, Inc. (a)
 
16,027
495,555
InterDigital, Inc.
 
10,380
1,024,817
Intuit, Inc.
 
113,530
71,026,639
Jamf Holding Corp. (a)
 
20,804
405,054
Klaviyo, Inc. Class A (b)
 
9,590
214,816
Liveramp Holdings, Inc. (a)
 
26,702
857,401
Manhattan Associates, Inc. (a)
 
25,074
5,166,748
Marathon Digital Holdings, Inc. (a)(b)
 
89,965
1,444,838
Matterport, Inc. (a)
 
92,418
425,123
MeridianLink, Inc. (a)
 
8,090
134,941
Microsoft Corp.
 
3,012,934
1,173,025,542
MicroStrategy, Inc. Class A (a)(b)
 
6,051
6,444,497
Mitek Systems, Inc. (a)
 
18,442
232,922
Model N, Inc. (a)
 
14,487
429,540
N-able, Inc. (a)
 
28,092
344,408
nCino, Inc. (a)
 
24,755
721,856
NCR Voyix Corp. (a)
 
54,057
662,198
Nextnav, Inc. (a)(b)
 
17,333
157,904
Nutanix, Inc. Class A (a)
 
98,919
6,004,383
Olo, Inc. (a)
 
44,337
212,818
ON24, Inc.
 
14,780
97,400
Onespan, Inc. (a)
 
14,484
156,717
Oracle Corp.
 
646,560
73,546,200
Pagerduty, Inc. (a)
 
37,048
739,478
Palantir Technologies, Inc. (a)
 
780,967
17,157,845
Palo Alto Networks, Inc. (a)
 
127,901
37,205,122
Pegasystems, Inc.
 
17,226
1,023,569
Porch Group, Inc. Class A (a)
 
32,382
103,299
PowerSchool Holdings, Inc. (a)(b)
 
23,230
402,344
Procore Technologies, Inc. (a)
 
35,940
2,459,015
Progress Software Corp.
 
17,706
882,113
PROS Holdings, Inc. (a)(b)
 
17,127
560,909
PTC, Inc. (a)
 
48,930
8,682,139
Q2 Holdings, Inc. (a)
 
23,589
1,212,239
Qualys, Inc. (a)
 
15,128
2,479,630
Rapid7, Inc. (a)
 
24,707
1,106,874
Rekor Systems, Inc. (a)
 
31,012
54,891
RingCentral, Inc. (a)
 
33,721
998,816
Riot Platforms, Inc. (a)(b)
 
83,281
841,971
Roper Technologies, Inc.
 
43,296
22,144,172
Salesforce, Inc.
 
392,566
105,576,700
Samsara, Inc. (a)
 
69,311
2,421,033
Semrush Holdings, Inc. (a)
 
12,125
148,410
SentinelOne, Inc. (a)
 
100,302
2,119,381
ServiceNow, Inc. (a)
 
83,156
57,654,549
Smartsheet, Inc. (a)
 
54,945
2,078,569
SolarWinds, Inc.
 
20,823
229,469
SoundHound AI, Inc. (a)(b)
 
88,089
373,497
Sprinklr, Inc. (a)(b)
 
47,828
559,109
Sprout Social, Inc. (a)(b)
 
19,675
992,604
SPS Commerce, Inc. (a)
 
14,799
2,573,102
Synopsys, Inc. (a)
 
61,901
32,844,052
Telos Corp. (a)
 
18,751
64,503
Tenable Holdings, Inc. (a)
 
47,229
2,123,888
Teradata Corp. (a)
 
39,429
1,462,816
TeraWulf, Inc. (a)
 
51,921
112,669
Tyler Technologies, Inc. (a)
 
17,170
7,924,814
UiPath, Inc. Class A (a)
 
166,173
3,152,302
Unity Software, Inc. (a)(b)
 
96,523
2,342,613
Varonis Systems, Inc. (a)
 
44,039
1,926,706
Verint Systems, Inc. (a)
 
25,434
770,142
Veritone, Inc. (a)(b)
 
13,107
42,860
Vertex, Inc. Class A (a)
 
18,392
535,759
Weave Communications, Inc. (a)
 
12,097
129,317
Workday, Inc. Class A (a)
 
84,763
20,744,049
Workiva, Inc. (a)
 
19,220
1,514,536
Xperi, Inc. (a)
 
17,621
185,197
Yext, Inc. (a)
 
42,059
230,904
Zeta Global Holdings Corp. (a)
 
60,957
753,429
Zoom Video Communications, Inc. Class A (a)
 
105,273
6,432,180
Zscaler, Inc. (a)
 
36,273
6,273,053
Zuora, Inc. (a)
 
54,427
536,650
 
 
 
2,021,657,008
Technology Hardware, Storage & Peripherals - 5.5%
 
 
 
Apple, Inc.
 
5,886,211
1,002,598,320
Corsair Gaming, Inc. (a)
 
16,870
187,257
Dell Technologies, Inc.
 
108,052
13,467,601
Diebold Nixdorf, Inc.
 
15,197
481,137
Eastman Kodak Co. (a)(b)
 
28,853
129,839
Hewlett Packard Enterprise Co.
 
526,663
8,953,271
HP, Inc.
 
353,605
9,932,764
Immersion Corp.
 
12,284
89,305
IonQ, Inc. (a)(b)
 
68,638
586,855
NetApp, Inc.
 
83,382
8,522,474
Pure Storage, Inc. Class A (a)
 
120,707
6,083,633
Seagate Technology Holdings PLC
 
79,300
6,812,663
Super Micro Computer, Inc. (a)
 
20,428
17,543,566
Turtle Beach Corp. (a)
 
6,871
96,881
Western Digital Corp. (a)
 
131,594
9,320,803
Xerox Holdings Corp.
 
45,881
609,758
 
 
 
1,085,416,127
TOTAL INFORMATION TECHNOLOGY
 
 
5,477,908,415
MATERIALS - 2.6%
 
 
 
Chemicals - 1.5%
 
 
 
AdvanSix, Inc.
 
10,856
274,223
Air Products & Chemicals, Inc.
 
90,244
21,328,267
Albemarle Corp. (b)
 
47,853
5,757,194
Alto Ingredients, Inc. (a)
 
29,400
55,566
American Vanguard Corp.
 
10,795
122,955
Arcadium Lithium PLC (b)
 
415,699
1,829,076
Ashland, Inc.
 
20,191
1,924,808
Aspen Aerogels, Inc. (a)(b)
 
23,088
361,558
Avient Corp.
 
36,843
1,562,880
Axalta Coating Systems Ltd. (a)
 
88,649
2,787,125
Balchem Corp.
 
13,001
1,838,081
Cabot Corp.
 
22,341
2,038,169
Celanese Corp. Class A
 
41,073
6,309,224
CF Industries Holdings, Inc.
 
77,859
6,148,525
Core Molding Technologies, Inc. (a)
 
3,127
56,349
Corteva, Inc.
 
284,832
15,417,956
Danimer Scientific, Inc. (a)(b)
 
32,312
24,234
Dow, Inc.
 
284,922
16,212,062
DuPont de Nemours, Inc.
 
174,147
12,625,658
Eastman Chemical Co.
 
47,262
4,463,423
Ecolab, Inc.
 
102,938
23,279,429
Ecovyst, Inc. (a)
 
41,081
387,394
Element Solutions, Inc.
 
89,389
2,067,568
FMC Corp.
 
50,287
2,967,436
Ginkgo Bioworks Holdings, Inc. Class A (a)(b)
 
547,860
488,198
H.B. Fuller Co.
 
21,834
1,631,218
Hawkins, Inc.
 
7,661
580,474
Huntsman Corp.
 
65,302
1,558,106
Ingevity Corp. (a)
 
13,573
694,123
Innospec, Inc.
 
10,035
1,204,200
International Flavors & Fragrances, Inc.
 
103,985
8,802,330
Intrepid Potash, Inc. (a)
 
3,694
74,323
Koppers Holdings, Inc.
 
8,283
424,752
Kronos Worldwide, Inc.
 
8,823
101,023
Linde PLC
 
196,476
86,638,057
LSB Industries, Inc. (a)
 
21,560
200,508
LyondellBasell Industries NV Class A
 
104,049
10,401,779
Mativ, Inc.
 
22,217
405,682
Minerals Technologies, Inc.
 
13,108
955,442
NewMarket Corp.
 
2,775
1,462,203
Olin Corp.
 
48,452
2,533,071
Origin Materials, Inc. Class A (a)(b)
 
46,549
37,681
Orion SA
 
23,465
555,182
Perimeter Solutions SA (a)
 
58,927
412,489
PPG Industries, Inc.
 
96,113
12,398,577
PureCycle Technologies, Inc. (a)(b)
 
55,305
258,274
Quaker Houghton
 
5,575
1,039,905
Rayonier Advanced Materials, Inc. (a)
 
26,342
98,256
RPM International, Inc.
 
52,969
5,662,916
Sensient Technologies Corp.
 
17,054
1,248,694
Sherwin-Williams Co.
 
95,533
28,622,642
Stepan Co.
 
8,590
712,884
The Chemours Co. LLC
 
59,831
1,600,479
The Mosaic Co.
 
131,738
4,135,256
The Scotts Miracle-Gro Co. Class A (b)
 
16,896
1,158,052
Trinseo PLC
 
13,044
34,045
Tronox Holdings PLC
 
46,774
794,690
Westlake Corp.
 
12,907
1,901,976
 
 
 
308,666,647
Construction Materials - 0.2%
 
 
 
Eagle Materials, Inc.
 
13,896
3,483,866
Knife River Holding Co.
 
22,812
1,783,670
Martin Marietta Materials, Inc.
 
25,040
14,700,233
Summit Materials, Inc. (a)
 
48,339
1,880,387
United States Lime & Minerals, Inc.
 
830
257,300
Vulcan Materials Co.
 
53,880
13,881,104
 
 
 
35,986,560
Containers & Packaging - 0.3%
 
 
 
Amcor PLC
 
588,769
5,263,595
Aptargroup, Inc.
 
26,603
3,840,941
Ardagh Metal Packaging SA
 
57,864
228,563
Avery Dennison Corp.
 
33,085
7,188,709
Ball Corp.
 
128,203
8,919,083
Berry Global Group, Inc.
 
46,722
2,646,334
Crown Holdings, Inc.
 
48,983
4,020,035
Graphic Packaging Holding Co.
 
123,392
3,189,683
Greif, Inc. Class A
 
10,014
613,658
International Paper Co.
 
141,554
4,945,897
Myers Industries, Inc.
 
15,215
333,209
O-I Glass, Inc. (a)
 
62,364
932,965
Packaging Corp. of America
 
36,297
6,278,655
Pactiv Evergreen, Inc.
 
15,836
241,341
Ranpak Holdings Corp. (A Shares) (a)
 
16,124
116,738
Sealed Air Corp.
 
58,245
1,833,553
Silgan Holdings, Inc.
 
32,615
1,521,816
Sonoco Products Co.
 
39,467
2,212,125
TriMas Corp.
 
16,713
434,371
WestRock Co.
 
104,606
5,016,904
 
 
 
59,778,175
Metals & Mining - 0.6%
 
 
 
Alcoa Corp.
 
71,944
2,528,112
Alpha Metallurgical Resources
 
4,756
1,555,783
American Battery Technology Co. (a)(b)
 
19,952
25,938
AngloGold Ashanti PLC
 
171,001
3,931,313
Arch Resources, Inc. (b)
 
7,446
1,182,276
ATI, Inc. (a)
 
51,439
3,070,908
Carpenter Technology Corp.
 
19,892
1,704,744
Century Aluminum Co. (a)
 
20,870
362,095
Cleveland-Cliffs, Inc. (a)
 
203,563
3,440,215
Coeur d'Alene Mines Corp. (a)
 
154,257
697,242
Commercial Metals Co.
 
46,877
2,519,170
Compass Minerals International, Inc.
 
13,673
170,229
Freeport-McMoRan, Inc.
 
582,160
29,073,070
Gatos Silver, Inc. (a)
 
19,011
181,935
Haynes International, Inc.
 
5,195
312,479
Hecla Mining Co.
 
228,556
1,081,070
Kaiser Aluminum Corp.
 
6,477
586,104
Materion Corp.
 
8,331
957,565
McEwen Mining, Inc. (a)
 
16,105
184,563
Metallus, Inc. (a)
 
15,691
322,607
MP Materials Corp. (a)(b)
 
58,064
929,024
Newmont Corp.
 
467,011
18,979,327
Nucor Corp.
 
99,775
16,815,081
Olympic Steel, Inc.
 
3,966
252,119
Piedmont Lithium, Inc. (a)(b)
 
6,741
82,577
Radius Recycling, Inc. Class A
 
10,509
183,067
Ramaco Resources, Inc. (b)
 
13,254
207,823
Reliance, Inc.
 
23,391
6,659,886
Royal Gold, Inc.
 
26,478
3,180,802
Ryerson Holding Corp.
 
11,786
336,490
Steel Dynamics, Inc.
 
61,696
8,027,884
SunCoke Energy, Inc.
 
33,471
345,086
United States Steel Corp.
 
91,084
3,324,566
Universal Stainless & Alloy Products, Inc. (a)
 
3,395
88,779
Warrior Metropolitan Coal, Inc.
 
20,932
1,430,702
Worthington Steel, Inc.
 
12,376
381,057
 
 
 
115,111,688
Paper & Forest Products - 0.0%
 
 
 
Clearwater Paper Corp. (a)
 
6,689
301,273
Glatfelter Corp. (a)
 
17,337
24,792
Louisiana-Pacific Corp.
 
25,984
1,901,769
Mercer International, Inc. (SBI)
 
18,198
184,346
Sylvamo Corp.
 
14,235
889,688
 
 
 
3,301,868
TOTAL MATERIALS
 
 
522,844,938
REAL ESTATE - 2.6%
 
 
 
Equity Real Estate Investment Trusts (REITs) - 2.4%
 
 
 
Acadia Realty Trust (SBI)
 
41,749
721,423
Agree Realty Corp.
 
40,623
2,324,448
Alexander & Baldwin, Inc.
 
29,698
489,126
Alexanders, Inc.
 
887
187,654
Alexandria Real Estate Equities, Inc.
 
64,431
7,465,620
American Assets Trust, Inc.
 
20,039
427,833
American Homes 4 Rent Class A
 
130,525
4,672,795
American Tower Corp.
 
189,191
32,457,608
Americold Realty Trust
 
107,737
2,366,982
Apartment Income (REIT) Corp.
 
58,291
2,237,209
Apartment Investment & Management Co. Class A (a)
 
54,347
434,776
Apple Hospitality (REIT), Inc.
 
86,468
1,276,268
Armada Hoffler Properties, Inc.
 
27,908
293,592
AvalonBay Communities, Inc.
 
57,764
10,950,321
Boston Properties, Inc.
 
58,269
3,606,268
Brandywine Realty Trust (SBI)
 
70,006
317,827
Brixmor Property Group, Inc.
 
121,797
2,691,714
Broadstone Net Lease, Inc.
 
76,217
1,109,720
Camden Property Trust (SBI)
 
44,300
4,415,824
CareTrust (REIT), Inc.
 
52,811
1,305,488
CBL & Associates Properties, Inc.
 
10,316
224,373
Centerspace
 
6,134
412,512
Chatham Lodging Trust
 
20,488
187,875
City Office REIT, Inc.
 
16,454
76,676
Community Healthcare Trust, Inc.
 
9,987
264,955
COPT Defense Properties (SBI)
 
45,660
1,094,470
Cousins Properties, Inc.
 
61,647
1,414,182
Crown Castle, Inc.
 
175,798
16,486,336
CTO Realty Growth, Inc.
 
8,939
155,092
CubeSmart
 
90,893
3,675,713
DiamondRock Hospitality Co.
 
85,775
763,398
Digital Realty Trust, Inc.
 
122,998
17,069,662
Diversified Healthcare Trust (SBI)
 
87,731
207,045
Douglas Emmett, Inc.
 
67,459
924,863
Easterly Government Properties, Inc.
 
39,812
465,402
EastGroup Properties, Inc.
 
19,306
2,999,380
Elme Communities (SBI)
 
35,659
540,590
Empire State Realty Trust, Inc.
 
53,107
483,274
EPR Properties
 
30,651
1,244,124
Equinix, Inc.
 
38,130
27,114,624
Equity Commonwealth (a)
 
43,565
815,537
Equity Lifestyle Properties, Inc.
 
75,361
4,543,515
Equity Residential (SBI)
 
140,965
9,078,146
Essential Properties Realty Trust, Inc.
 
63,429
1,670,720
Essex Property Trust, Inc.
 
26,394
6,499,523
Extra Space Storage, Inc.
 
85,733
11,512,227
Farmland Partners, Inc.
 
18,071
194,444
Federal Realty Investment Trust (SBI)
 
29,778
3,101,974
First Industrial Realty Trust, Inc.
 
53,574
2,433,331
Four Corners Property Trust, Inc.
 
36,622
858,786
Gaming & Leisure Properties
 
110,099
4,704,530
Getty Realty Corp.
 
20,120
545,252
Gladstone Commercial Corp.
 
16,811
224,763
Gladstone Land Corp.
 
14,219
180,297
Global Medical REIT, Inc.
 
26,098
211,655
Global Net Lease, Inc.
 
79,312
551,218
Healthcare Realty Trust, Inc.
 
153,828
2,188,972
Healthpeak Properties, Inc.
 
290,617
5,408,382
Highwoods Properties, Inc. (SBI)
 
42,506
1,113,657
Host Hotels & Resorts, Inc.
 
290,934
5,489,925
Hudson Pacific Properties, Inc. (b)
 
51,315
297,627
Independence Realty Trust, Inc.
 
90,874
1,433,083
Industrial Logistics Properties Trust
 
24,586
86,543
InvenTrust Properties Corp.
 
27,663
700,980
Invitation Homes, Inc.
 
234,928
8,034,538
Iron Mountain, Inc.
 
118,678
9,199,919
JBG SMITH Properties
 
35,429
531,789
Kilroy Realty Corp.
 
43,182
1,459,552
Kimco Realty Corp.
 
274,405
5,112,165
Kite Realty Group Trust
 
88,958
1,939,284
Lamar Advertising Co. Class A
 
36,038
4,175,002
LTC Properties, Inc.
 
17,033
563,792
LXP Industrial Trust (REIT)
 
119,052
994,084
Medical Properties Trust, Inc. (b)
 
241,567
1,111,208
Mid-America Apartment Communities, Inc.
 
48,020
6,242,600
National Health Investors, Inc.
 
17,602
1,109,982
National Storage Affiliates Trust
 
31,410
1,100,606
Net Lease Office Properties
 
6,038
138,029
NETSTREIT Corp.
 
28,568
481,371
NexPoint Residential Trust, Inc.
 
9,338
319,733
NNN (REIT), Inc.
 
73,855
2,993,343
Office Properties Income Trust
 
17,744
35,843
Omega Healthcare Investors, Inc.
 
98,983
3,010,073
One Liberty Properties, Inc.
 
6,594
151,069
Orion Office (REIT), Inc.
 
21,007
65,542
Outfront Media, Inc.
 
58,642
930,062
Paramount Group, Inc.
 
67,270
312,133
Park Hotels & Resorts, Inc.
 
85,004
1,371,115
Peakstone Realty Trust
 
14,603
204,004
Pebblebrook Hotel Trust
 
49,370
717,346
Phillips Edison & Co., Inc.
 
49,727
1,626,073
Piedmont Office Realty Trust, Inc. Class A
 
50,584
348,524
Plymouth Industrial REIT, Inc.
 
15,769
329,257
Postal Realty Trust, Inc.
 
9,443
130,786
Potlatch Corp.
 
32,209
1,288,682
Prologis, Inc.
 
374,997
38,268,444
Public Storage
 
64,271
16,675,111
Rayonier, Inc.
 
54,945
1,629,669
Realty Income Corp.
 
337,589
18,074,515
Regency Centers Corp.
 
66,469
3,936,294
Retail Opportunity Investments Corp.
 
51,398
630,653
Rexford Industrial Realty, Inc.
 
85,193
3,647,112
RLJ Lodging Trust
 
62,903
691,933
Ryman Hospitality Properties, Inc.
 
24,227
2,555,464
Sabra Health Care REIT, Inc.
 
93,559
1,302,341
Safehold, Inc.
 
18,203
332,023
Saul Centers, Inc.
 
5,418
197,269
SBA Communications Corp. Class A
 
43,911
8,172,715
Service Properties Trust
 
67,300
412,549
Simon Property Group, Inc.
 
132,068
18,559,516
SITE Centers Corp.
 
73,046
985,391
SL Green Realty Corp.
 
26,159
1,303,503
STAG Industrial, Inc.
 
73,589
2,530,726
Summit Hotel Properties, Inc.
 
44,400
266,844
Sun Communities, Inc.
 
51,228
5,702,701
Sunstone Hotel Investors, Inc.
 
83,522
851,924
Tanger, Inc.
 
43,660
1,237,761
Terreno Realty Corp.
 
37,858
2,057,582
The Macerich Co.
 
87,263
1,200,739
UDR, Inc.
 
122,307
4,657,451
UMH Properties, Inc.
 
25,530
406,438
Uniti Group, Inc.
 
95,541
549,361
Universal Health Realty Income Trust (SBI)
 
5,285
190,419
Urban Edge Properties
 
47,994
802,940
Ventas, Inc.
 
165,260
7,317,713
Veris Residential, Inc.
 
32,532
468,786
VICI Properties, Inc.
 
420,061
11,992,742
Vornado Realty Trust
 
64,677
1,683,542
Welltower, Inc.
 
224,568
21,396,839
Weyerhaeuser Co.
 
297,464
8,974,489
Whitestone REIT Class B
 
19,909
228,954
WP Carey, Inc.
 
89,768
4,922,877
Xenia Hotels & Resorts, Inc.
 
42,745
592,873
 
 
 
470,837,838
Real Estate Management & Development - 0.2%
 
 
 
Anywhere Real Estate, Inc. (a)
 
44,591
216,712
CBRE Group, Inc. (a)
 
120,832
10,499,092
Compass, Inc. (a)
 
134,644
424,129
CoStar Group, Inc. (a)
 
165,661
15,162,951
Cushman & Wakefield PLC (a)
 
67,615
652,485
Digitalbridge Group, Inc.
 
57,986
953,290
Douglas Elliman, Inc.
 
30,069
40,894
eXp World Holdings, Inc.
 
31,120
309,955
Forestar Group, Inc. (a)
 
7,108
220,277
Howard Hughes Holdings, Inc.
 
13,126
855,290
Jones Lang LaSalle, Inc. (a)
 
19,185
3,466,730
Kennedy-Wilson Holdings, Inc.
 
48,348
415,309
Marcus & Millichap, Inc.
 
9,631
305,014
Newmark Group, Inc.
 
48,813
467,140
Opendoor Technologies, Inc. (a)(b)
 
232,452
462,579
RE/MAX Holdings, Inc.
 
6,360
44,647
Redfin Corp. (a)(b)
 
46,465
260,669
Seritage Growth Properties (a)
 
15,193
141,903
The RMR Group, Inc.
 
5,650
134,018
The St. Joe Co.
 
14,382
822,650
Zillow Group, Inc.:
 
 
 
 Class A (a)
 
19,515
819,630
 Class C (a)
 
65,700
2,796,849
 
 
 
39,472,213
TOTAL REAL ESTATE
 
 
510,310,051
UTILITIES - 2.3%
 
 
 
Electric Utilities - 1.4%
 
 
 
Allete, Inc.
 
23,182
1,372,838
Alliant Energy Corp.
 
104,682
5,213,164
American Electric Power Co., Inc.
 
213,500
18,367,405
Avangrid, Inc.
 
27,977
1,022,000
Constellation Energy Corp.
 
129,541
24,086,854
Duke Energy Corp.
 
312,325
30,689,055
Edison International
 
155,630
11,059,068
Entergy Corp.
 
85,662
9,137,566
Evergy, Inc.
 
94,394
4,950,965
Eversource Energy
 
141,907
8,602,402
Exelon Corp.
 
403,942
15,180,140
FirstEnergy Corp.
 
209,527
8,033,265
Genie Energy Ltd. Class B
 
8,789
134,384
Hawaiian Electric Industries, Inc. (b)
 
44,451
437,842
IDACORP, Inc.
 
20,404
1,933,891
MGE Energy, Inc. (b)
 
14,535
1,138,381
NextEra Energy, Inc.
 
832,193
55,731,965
NRG Energy, Inc.
 
91,642
6,659,624
OGE Energy Corp.
 
80,752
2,798,057
Otter Tail Corp.
 
16,820
1,435,755
PG&E Corp.
 
865,821
14,814,197
Pinnacle West Capital Corp.
 
45,700
3,365,805
PNM Resources, Inc.
 
34,695
1,285,797
Portland General Electric Co.
 
40,668
1,758,078
PPL Corp.
 
300,190
8,243,217
Southern Co.
 
441,991
32,486,339
Xcel Energy, Inc.
 
223,501
12,008,709
 
 
 
281,946,763
Gas Utilities - 0.1%
 
 
 
Atmos Energy Corp.
 
61,043
7,196,970
Chesapeake Utilities Corp.
 
8,970
949,654
National Fuel Gas Co.
 
37,154
1,972,877
New Jersey Resources Corp.
 
39,517
1,726,498
Northwest Natural Holding Co.
 
14,695
560,614
ONE Gas, Inc.
 
22,444
1,448,087
Southwest Gas Holdings, Inc.
 
24,223
1,807,520
Spire, Inc.
 
22,161
1,369,328
UGI Corp.
 
84,458
2,158,746
 
 
 
19,190,294
Independent Power and Renewable Electricity Producers - 0.1%
 
 
 
Altus Power, Inc. Class A (a)(b)
 
22,555
82,777
Clearway Energy, Inc.:
 
 
 
 Class A
 
16,514
358,519
 Class C (b)
 
30,931
723,167
Montauk Renewables, Inc. (a)
 
24,986
89,950
Ormat Technologies, Inc.
 
21,674
1,383,451
Sunnova Energy International, Inc. (a)(b)
 
43,205
181,893
The AES Corp.
 
274,988
4,922,285
Vistra Corp.
 
136,491
10,351,477
 
 
 
18,093,519
Multi-Utilities - 0.6%
 
 
 
Ameren Corp.
 
106,741
7,884,958
Avista Corp.
 
31,221
1,123,332
Black Hills Corp.
 
27,445
1,506,731
CenterPoint Energy, Inc.
 
256,026
7,460,598
CMS Energy Corp.
 
119,550
7,245,926
Consolidated Edison, Inc.
 
139,640
13,182,016
Dominion Energy, Inc.
 
338,912
17,277,734
DTE Energy Co.
 
83,842
9,249,449
NiSource, Inc.
 
166,967
4,651,701
NorthWestern Energy Corp.
 
24,746
1,248,188
Public Service Enterprise Group, Inc.
 
201,610
13,927,219
Sempra
 
255,033
18,268,014
Unitil Corp.
 
6,527
332,485
WEC Energy Group, Inc.
 
128,123
10,588,085
 
 
 
113,946,436
Water Utilities - 0.1%
 
 
 
American States Water Co.
 
14,944
1,058,633
American Water Works Co., Inc.
 
79,135
9,679,793
Artesian Resources Corp. Class A
 
3,851
134,708
California Water Service Group
 
23,309
1,144,938
Consolidated Water Co., Inc.
 
6,152
156,568
Essential Utilities, Inc.
 
101,419
3,709,907
Middlesex Water Co.
 
7,213
365,843
SJW Group
 
11,653
634,506
York Water Co.
 
5,922
210,290
 
 
 
17,095,186
TOTAL UTILITIES
 
 
450,272,198
 
TOTAL COMMON STOCKS
 (Cost $14,603,373,506)
 
 
 
19,714,269,366
 
 
 
 
U.S. Treasury Obligations - 0.0%
 
 
Principal
Amount (d)
 
Value ($)
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (e)
 
 (Cost $1,794,241)
 
 
1,800,000
1,794,192
 
 
 
 
Money Market Funds - 1.2%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (f)
 
81,620,788
81,637,112
Fidelity Securities Lending Cash Central Fund 5.39% (f)(g)
 
153,119,880
153,135,192
 
TOTAL MONEY MARKET FUNDS
 (Cost $234,772,304)
 
 
234,772,304
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.9%
 (Cost $14,839,940,051)
 
 
 
19,950,835,862
NET OTHER ASSETS (LIABILITIES) - (0.9)%  
(183,922,214)
NET ASSETS - 100.0%
19,766,913,648
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
CME E-mini Russell 2000 Index Contracts (United States)
42
Jun 2024
4,169,760
27,053
27,053
CME E-mini S&P 500 Index Contracts (United States)
164
Jun 2024
41,549,400
150,503
150,503
CME E-mini S&P MidCap 400 Index Contracts (United States)
7
Jun 2024
2,014,040
10,410
10,410
 
 
 
 
 
 
TOTAL FUTURES CONTRACTS
 
 
 
 
187,966
The notional amount of futures purchased as a percentage of Net Assets is 0.2%
 
 
Legend
 
(a)
Non-income producing
 
(b)
Security or a portion of the security is on loan at period end.
 
(c)
Level 3 security
 
(d)
Amount is stated in United States dollars unless otherwise noted.
 
(e)
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 $1,794,192.
 
(f)
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.
 
(g)
Investment made with cash collateral received from securities on loan.
 
(h)
Restricted securities (including private placements) - Investment in securities not registered under the Securities Act of 1933 (excluding 144A issues).  At the end of the period, the value of restricted securities (excluding 144A issues) amounted to $0 or 0.0% of net assets.
 
(i)
Equity security is subject to lock-up or market standoff agreement and valued at a discount to the market price of the equivalent equity security. As of period end, the total fair value of equity securities discounted due to contractual sale restrictions is $13,231 and all restrictions are set to expire on or before  September 30, 2024.  Under normal market conditions, there are no circumstances that could cause the restrictions to lapse.
 
 
 
Additional information on each restricted holding is as follows:
Security
Acquisition Date
Acquisition Cost ($)
 
GCI Liberty, Inc. Class A (Escrow)
5/23/23
0
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
70,416,323
1,138,211,117
1,126,988,669
1,487,614
(1,659)
-
81,637,112
0.2%
Fidelity Securities Lending Cash Central Fund 5.39%
139,645,916
282,056,340
268,567,064
927,473
-
-
153,135,192
0.6%
Total
210,062,239
1,420,267,457
1,395,555,733
2,415,087
(1,659)
-
234,772,304
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
1,662,873,263
1,662,873,263
-
-
Consumer Discretionary
2,056,691,585
2,056,691,585
-
-
Consumer Staples
1,130,478,000
1,130,478,000
-
-
Energy
828,125,873
828,125,873
-
-
Financials
2,698,127,176
2,698,127,176
-
-
Health Care
2,395,493,895
2,395,454,620
13,231
26,044
Industrials
1,981,143,972
1,981,143,972
-
-
Information Technology
5,477,908,415
5,477,908,415
-
-
Materials
522,844,938
522,844,938
-
-
Real Estate
510,310,051
510,310,051
-
-
Utilities
450,272,198
450,272,198
-
-
 U.S. Government and Government Agency Obligations
1,794,192
-
1,794,192
-
  Money Market Funds
234,772,304
234,772,304
-
-
 Total Investments in Securities:
19,950,835,862
19,949,002,395
1,807,423
26,044
 Derivative Instruments:
 Assets
 
 
 
 
Futures Contracts
187,966
187,966
-
-
  Total Assets
187,966
187,966
-
-
 Total Derivative Instruments:
187,966
187,966
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
187,966
0
Total Equity Risk
187,966
0
Total Value of Derivatives
187,966
0
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Fidelity ZERO® Total Market Index Fund
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  (including  securities loaned of $142,604,940) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $14,605,167,747)
$
19,716,063,558
 
 
Fidelity Central Funds (cost $234,772,304)
234,772,304
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $14,839,940,051)
 
 
$
19,950,835,862
Segregated cash with brokers for derivative instruments
 
 
80,199
Cash
 
 
13,566
Foreign currency held at value (cost $2,359,024)
 
 
2,362,452
Receivable for investments sold
 
 
11
Receivable for fund shares sold
 
 
22,159,657
Dividends receivable
 
 
11,165,552
Distributions receivable from Fidelity Central Funds
 
 
396,869
Other receivables
 
 
35,600
  Total assets
 
 
19,987,049,768
Liabilities
 
 
 
 
Payable for investments purchased
$
60,237,854
 
 
Payable for fund shares redeemed
6,185,720
 
 
Payable for daily variation margin on futures contracts
578,786
 
 
Collateral on securities loaned
153,133,760
 
 
  Total liabilities
 
 
 
220,136,120
Net Assets  
 
 
$
19,766,913,648
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
14,725,310,169
Total accumulated earnings (loss)
 
 
 
5,041,603,479
Net Assets
 
 
$
19,766,913,648
Net Asset Value, offering price and redemption price per share ($19,766,913,648 ÷ 1,129,774,292 shares)
 
 
$
17.50
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
139,025,216
Interest  
 
 
108,143
Income from Fidelity Central Funds (including $927,473 from security lending)
 
 
2,415,087
 Total income
 
 
 
141,548,446
Expenses
 
 
 
 
Independent trustees' fees and expenses
$
43,295
 
 
 Total expenses before reductions
 
43,295
 
 
 Expense reductions
 
(21,851)
 
 
 Total expenses after reductions
 
 
 
21,444
Net Investment income (loss)
 
 
 
141,527,002
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
(22,603,953)
 
 
   Fidelity Central Funds
 
(1,659)
 
 
 Foreign currency transactions
 
(2)
 
 
 Futures contracts
 
10,097,089
 
 
Total net realized gain (loss)
 
 
 
(12,508,525)
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
3,110,332,441
 
 
 Assets and liabilities in foreign currencies
 
10,075
 
 
 Futures contracts
 
1,284,463
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
3,111,626,979
Net gain (loss)
 
 
 
3,099,118,454
Net increase (decrease) in net assets resulting from operations
 
 
$
3,240,645,456
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
141,527,002
$
228,837,571
Net realized gain (loss)
 
(12,508,525)
 
 
(52,087,307)
 
Change in net unrealized appreciation (depreciation)
 
3,111,626,979
 
864,996,525
 
Net increase (decrease) in net assets resulting from operations
 
3,240,645,456
 
 
1,041,746,789
 
Distributions to shareholders
 
(235,874,094)
 
 
(189,994,752)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
2,678,100,818
 
3,408,011,292
  Reinvestment of distributions
 
208,297,059
 
 
170,606,494
 
Cost of shares redeemed
 
(1,169,677,825)
 
(1,612,715,517)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
1,716,720,052
 
 
1,965,902,269
 
Total increase (decrease) in net assets
 
4,721,491,414
 
 
2,817,654,306
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
15,045,422,234
 
12,227,767,928
 
End of period
$
19,766,913,648
$
15,045,422,234
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
157,261,607
 
232,915,554
  Issued in reinvestment of distributions
 
12,674,298
 
 
12,741,337
 
Redeemed
 
(68,956,326)
 
(110,923,234)
Net increase (decrease)
 
100,979,579
 
134,733,657
 
 
 
 
 
 
Financial Highlights
 
Fidelity ZERO® Total Market Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 
 
2020 
 
2019   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
14.62
$
13.68
$
16.59
$
11.67
$
10.78
$
9.56
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.13
 
.24
 
.22
 
.20
 
.20
 
.19
     Net realized and unrealized gain (loss)
 
2.98
 
.91
 
(2.92)
 
4.89
 
.86
 
1.10
  Total from investment operations
 
3.11  
 
1.15  
 
(2.70)  
 
5.09  
 
1.06
 
1.29
  Distributions from net investment income
 
(.23)
 
(.21)
 
(.18)
 
(.17)
 
(.16)
 
(.06)
  Distributions from net realized gain
 
-
 
-
 
(.03)
 
-
 
(.01)
 
(.01)
     Total distributions
 
(.23)
 
(.21)
 
(.21)
 
(.17)
 
(.17)
 
(.07)
  Net asset value, end of period
$
17.50
$
14.62
$
13.68
$
16.59
$
11.67
$
10.78
 Total Return C,D
 
21.35
%
 
 
8.55%
 
(16.46)%
 
44.00%
 
9.92%
 
13.57%
 Ratios to Average Net Assets B,E,F
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions G
 
-% H
 
-%
 
-%
 
-%
 
-%
 
-%
    Expenses net of fee waivers, if any G
 
-
% H
 
 
-%
 
-%
 
-%
 
-%
 
-%
    Expenses net of all reductions G
 
-% H
 
-%
 
-%
 
-%
 
-%
 
-%
    Net investment income (loss)
 
1.54% H
 
1.63%
 
1.50%
 
1.37%
 
1.79%
 
1.91%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
19,766,914
$
15,045,422
$
12,227,768
$
12,297,505
$
6,053,570
$
4,168,884
    Portfolio turnover rate I
 
2
% H
 
 
2%
 
3%
 
4% J
 
6%
 
3%
 
ACalculated based on average shares outstanding during the period.
 
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
CTotal returns for periods of less than one year are not annualized.
 
DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
GAmount represents less than .005%.
 
HAnnualized.
 
IAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
JPortfolio turnover rate excludes securities received or delivered in-kind.
 
For the period ended April 30, 2024
 
1. Organization.
Fidelity ZERO Extended Market Index Fund, Fidelity ZERO International Index Fund, Fidelity ZERO Large Cap Index Fund and Fidelity ZERO Total Market Index Fund are funds of Fidelity Concord Street Trust (the Trust). The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust. Each Fund is authorized to issue an unlimited number of shares. Investments in emerging markets, if applicable, can be subject to social, economic, regulatory, and political uncertainties and can be extremely volatile.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense RatioA
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
Each Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. Each Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of each Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated each Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, each Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages each Fund's fair valuation practices and maintains the fair valuation policies and procedures. Each Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters. 
 
Each Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - unadjusted 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)
 
Valuation techniques used to value each 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 service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2024 is included at the end of each Fund's Schedule of Investments.
 
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
 
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
 
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
 
Investment Transactions and Income. For financial reporting purposes, the Funds' investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and for certain Funds include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Funds are informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Funds represent a return of capital or capital gain. The Funds determine the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in dividends or foreign taxes withheld, as applicable. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in dividends receivable or reclaims receivable, as applicable.
 
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
Income Tax Information and Distributions to Shareholders. Each year, each Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. Each Fund files a U.S. federal tax return, in addition to state and local tax returns as required. Each Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on each Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests. Fidelity ZERO International Index Fund is subject to a tax imposed on capital gains by certain countries in which it invests. An estimated deferred tax liability for net unrealized appreciation on the applicable securities is included in Deferred taxes on the Statement of Assets & Liabilities.
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to futures contracts, foreign currency transactions, certain foreign taxes, passive foreign investment companies (PFIC), redemptions in-kind, partnerships, capital loss carryforwards and losses deferred due to wash sales.
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows for each Fund:
 
 
Tax cost ($)
Gross unrealized appreciation ($)
Gross unrealized depreciation ($)
Net unrealized appreciation (depreciation)($)
Fidelity ZERO Extended Market Index Fund 
1,588,673,580
346,594,226
 (294,848,588)
51,745,638
Fidelity ZERO International Index Fund
3,657,444,203
802,700,344
 (450,621,568)
352,078,776
Fidelity ZERO Large Cap Index Fund.
6,677,643,082
2,613,089,417
(409,315,949)
2,203,773,468
Fidelity ZERO Total Market Index Fund.
14,952,402,162
6,257,710,218
(1,259,088,552)
4,998,621,666
 
Capital loss carryforwards are only available to offset future capital gains of the Funds to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
 
 
Short-term ($)
Long-term ($)
Total capital loss carryforward ($)
Fidelity ZERO Extended Market Index Fund 
 (8,186,474)
 (9,425,257)
  (17,611,731)
Fidelity ZERO International Index Fund
 (31,604,890)
 (91,109,466)
  (122,714,356)
Fidelity ZERO Large Cap Index Fund.
 (15,496,365)
 (51,493,429)
  (66,989,794)
Fidelity ZERO Total Market Index Fund.
 (5,371,596)
 (28,082,191)
  (33,453,787)
 
Delayed Delivery Transactions and When-Issued Securities. During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. Securities purchased on a delayed delivery or when-issued basis are identified as such in the Schedule of Investments. Compensation for interest forgone in the purchase of a delayed delivery or when-issued debt security may be received. With respect to purchase commitments, each applicable Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Payables and receivables associated with the purchases and sales of delayed delivery securities having the same coupon, settlement date and broker are offset. Delayed delivery or when-issued securities that have been purchased from and sold to different brokers are reflected as both payables and receivables in the Statement of Assets and Liabilities under the caption "Delayed delivery", as applicable. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.
 
Restricted Securities (including Private Placements). Funds 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 held at period end is included at the end of the Schedule of Investments, if applicable.
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. Each Fund's investment objectives allow for various types of derivative instruments, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.
 
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
 
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period unless an average notional amount is presented. Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, U.S. government securities and in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity ZERO Extended Market Index Fund
165,005,492
62,552,022
Fidelity ZERO International Index Fund
365,785,513
99,957,496
Fidelity ZERO Large Cap Index Fund
1,211,207,596
106,844,570
Fidelity ZERO Total Market Index Fund
1,883,638,603
157,866,245
 
Unaffiliated Redemptions In-Kind. Shares that were redeemed in-kind for investments, including accrued interest and cash, if any, are shown in the table below. The net realized gain or loss on investments delivered through in-kind redemptions is included in the "Net realized gain (loss) on: Redemptions in-kind" line in the accompanying Statement of Operations. The amount of the in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets. There was no gain or loss for federal income tax purposes.
 
 
Shares
Total net realized gain or loss ($)
Total Proceeds ($)
Fidelity ZERO Extended Market Index Fund
6,198,347
45,100,121
74,938,017
 
Prior Fiscal Year Unaffiliated Redemptions In-Kind. Shares that were redeemed in-kind for investments, including accrued interest and cash, if any, are shown in the table below; along with realized gain or loss on investments delivered through in-kind redemptions. The amount of the in-kind redemptions is included in share transactions in the accompanying Statement of Changes in Net Assets. There was no gain or loss for federal income tax purposes.
 
 
Shares
Total net realized gain or loss ($)
Total Proceeds ($)
Fidelity ZERO Extended Market Index Fund
4,587,156
20,340,688
49,724,771
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Funds with investment management services for which the Funds do not pay a management fee. Under the management contract, the investment adviser or an affiliate pays all ordinary operating expenses of the Funds, except fees and expenses of the independent Trustees.
 
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Funds. Geode provides discretionary investment advisory services to the Funds and is paid by the investment adviser for providing these services.
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The commitment fees on the pro-rata portion of the line of credit are borne by the investment adviser. During the period, there were no borrowings on this line of credit.
8. Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income 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. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Affiliated security lending activity, if any, was as follows:
 
 
Total Security Lending Fees Paid to NFS ($)
Security Lending Income From Securities Loaned to NFS ($)
Value of Securities Loaned to NFS at Period End ($)
Fidelity ZERO Extended Market Index Fund
69,407
 5,727
263,722
Fidelity ZERO International Index Fund
 4,605
 -
-
Fidelity ZERO Large Cap Index Fund
 2,118
 -
 -
Fidelity ZERO Total Market Index Fund
 99,706
 4,658
 321,912
9. Expense Reductions.
Through arrangements with each applicable Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce each applicable Fund's expenses. All of the applicable expense reductions are noted in the table below.
 
 
Custodian credits ($)
Fidelity ZERO Extended Market Index Fund 
 904
Fidelity ZERO Large Cap Index Fund.
 9,484
Fidelity ZERO Total Market Index Fund 
 21,851
10. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
11. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as pandemics, epidemics, outbreaks of infectious diseases, war, terrorism, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
 
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2023 to April 30, 2024).
 
Actual Expenses
The first line of the accompanying table 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 $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
 
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the 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 the 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. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing 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.
 
 
 
 
 
Annualized Expense Ratio- A
 
Beginning Account Value November 1, 2023
 
Ending Account Value April 30, 2024
 
Expenses Paid During Period- C November 1, 2023 to April 30, 2024
 
 
 
 
 
 
 
 
 
 
Fidelity ZERO® Extended Market Index Fund
 
 
 
-%-D
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,206.20
 
$-E
 
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,024.86
 
$-E
 
 
 
 
 
 
 
 
 
 
 
Fidelity ZERO® International Index Fund
 
 
 
-%-D
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,166.80
 
$-E
 
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,024.86
 
$-E
 
 
 
 
 
 
 
 
 
 
 
Fidelity ZERO® Large Cap Index Fund
 
 
 
-%-D
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,214.00
 
$-E
 
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,024.86
 
$-E
 
 
 
 
 
 
 
 
 
 
 
Fidelity ZERO® Total Market Index Fund
 
 
 
-%-D
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,213.50
 
$-E
 
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,024.86
 
$-E
 
 
A   Annualized expense ratio reflects expenses net of applicable fee waivers.
 
B   5% return per year before expenses
 
C   Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 366 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
D   Amount represents less than .005%.
 
E   Amount represents less than $.005.
 
 
 
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Funds have adopted and implemented a liquidity risk management program (the Program) reasonably designed to assess and manage each Fund's liquidity risk and to comply with the requirements of the Liquidity Rule. Each Fund's Board of Trustees (the Board) has designated each Fund's investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund's liquidity risk based on a variety of factors including (1) the Fund's investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) certain factor specific to ETFs including the effect of the Fund's prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund's portfolio, as applicable. 
In accordance with the Program, each of the Fund's portfolio investments is classified into one of four defined liquidity categories based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
  • Highly liquid investments - cash or convertible to cash within three business days or less
  • Moderately liquid investments - convertible to cash in three to seven calendar days
  • Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
  • Illiquid investments - cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund's illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund's net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM).  The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund's Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of the Program for the period December 1, 2022 through November 30, 2023.  The report concluded that the Program is operating effectively and is reasonably designed to assess and manage the Fund's liquidity risk.  
 
1.9891447.105
EML-SANN-0624
Fidelity® Series International Index Fund
 
 
Semi-Annual Report
April 30, 2024

Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example

Liquidity Risk Management Program

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
 
 
You may also call 1-800-544-8544 to request a free copy of the proxy voting guidelines.
The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2024 FMR LLC. All rights reserved.
 
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
 
Top Holdings (% of Fund's net assets)
 
Novo Nordisk A/S Series B  (Denmark, Pharmaceuticals)
2.5
 
ASML Holding NV (Netherlands)  (Netherlands, Semiconductors & Semiconductor Equipment)
2.1
 
Nestle SA (Reg. S)  (United States of America, Food Products)
1.6
 
Toyota Motor Corp.  (Japan, Automobiles)
1.4
 
AstraZeneca PLC (United Kingdom) (United Kingdom, Pharmaceuticals)
1.4
 
Shell PLC (London)  (United States of America, Oil, Gas & Consumable Fuels)
1.4
 
LVMH Moet Hennessy Louis Vuitton SE  (France, Textiles, Apparel & Luxury Goods)
1.4
 
Novartis AG  (Switzerland, Pharmaceuticals)
1.2
 
SAP SE  (Germany, Software)
1.1
 
Roche Holding AG (participation certificate)  (United States of America, Pharmaceuticals)
1.0
 
 
15.1
 
 
Market Sectors (% of Fund's net assets)
 
Financials
18.8
 
Industrials
16.7
 
Health Care
12.4
 
Consumer Discretionary
11.6
 
Information Technology
8.7
 
Consumer Staples
8.6
 
Materials
7.4
 
Energy
4.1
 
Communication Services
3.8
 
Utilities
3.1
 
Real Estate
1.7
 
 
Asset Allocation (% of Fund's net assets)
Futures - 3.4%
Geographic Diversification (% of Fund's net assets)
 
*    Includes Short-Term investments and Net Other Assets (Liabilities). 
Percentages are adjusted for the effect of derivatives, if applicable.
 
 
 
Showing Percentage of Net Assets
Common Stocks - 96.2%
 
 
Shares
Value ($)
 
Australia - 7.0%
 
 
 
Ampol Ltd.
 
5,901
139,345
ANZ Group Holdings Ltd.
 
74,630
1,346,618
APA Group unit
 
31,777
169,577
Aristocrat Leisure Ltd.
 
14,372
366,773
ASX Ltd.
 
4,798
195,999
Aurizon Holdings Ltd.
 
45,541
111,860
BHP Group Ltd.
 
125,817
3,450,672
BlueScope Steel Ltd.
 
11,057
161,382
Brambles Ltd.
 
34,518
324,733
CAR Group Ltd.
 
8,880
192,550
Cochlear Ltd.
 
1,625
338,988
Coles Group Ltd.
 
33,185
346,094
Commonwealth Bank of Australia
 
41,563
3,045,301
Computershare Ltd.
 
13,350
234,538
DEXUS Property Group unit
 
26,658
121,086
EBOS Group Ltd.
 
3,808
78,472
Endeavour Group Ltd.
 
35,487
122,036
Fortescue Ltd.
 
42,029
696,607
Glencore PLC
 
257,445
1,497,960
Goodman Group unit
 
42,426
856,990
IDP Education Ltd.
 
6,558
68,380
Insurance Australia Group Ltd.
 
59,562
246,764
Macquarie Group Ltd.
 
9,078
1,086,986
Medibank Private Ltd.
 
68,285
156,500
Mineral Resources Ltd.
 
4,359
197,734
Mirvac Group unit
 
97,847
128,206
National Australia Bank Ltd.
 
77,411
1,678,079
Northern Star Resources Ltd.
 
28,515
270,286
Orica Ltd.
 
13,434
155,549
Origin Energy Ltd.
 
42,738
269,737
Pilbara Minerals Ltd.
 
70,951
180,634
Qantas Airways Ltd. (a)
 
20,926
78,952
QBE Insurance Group Ltd.
 
37,066
423,997
Ramsay Health Care Ltd.
 
4,550
152,517
REA Group Ltd.
 
1,311
150,277
Reece Ltd.
 
5,607
99,466
Rio Tinto Ltd.
 
9,212
766,663
Rio Tinto PLC
 
27,958
1,891,660
Santos Ltd.
 
80,580
395,436
Scentre Group unit
 
128,674
260,571
SEEK Ltd.
 
8,834
136,466
Seven Group Holdings Ltd.
 
4,057
98,581
Sonic Healthcare Ltd.
 
11,236
193,098
South32 Ltd.
 
112,385
256,404
Stockland Corp. Ltd. unit
 
59,162
167,613
Suncorp Group Ltd.
 
31,507
336,508
Telstra Group Ltd.
 
100,152
236,620
The GPT Group
 
47,477
127,686
The Lottery Corp. Ltd.
 
55,188
172,159
Transurban Group unit
 
76,610
615,060
Treasury Wine Estates Ltd.
 
20,116
156,004
Vicinity Centres unit
 
95,838
117,360
Washington H. Soul Pattinson & Co. Ltd.
 
5,805
121,485
Wesfarmers Ltd.
 
28,164
1,206,524
Westpac Banking Corp.
 
86,900
1,443,091
WiseTech Global Ltd.
 
4,137
243,721
Woodside Energy Group Ltd.
 
47,121
844,267
Woolworths Group Ltd.
 
30,312
621,915
TOTAL AUSTRALIA
 
 
29,550,537
Austria - 0.2%
 
 
 
Erste Group Bank AG
 
8,536
399,639
Mondi PLC
 
10,954
207,914
OMV AG
 
3,655
174,280
Verbund AG
 
1,691
129,212
Voestalpine AG
 
2,880
77,207
TOTAL AUSTRIA
 
 
988,252
Belgium - 0.8%
 
 
 
Ageas
 
3,968
182,683
Anheuser-Busch InBev SA NV
 
21,564
1,288,962
D'ieteren Group
 
533
115,584
Elia Group SA/NV
 
730
70,388
Groupe Bruxelles Lambert SA
 
2,188
163,102
KBC Group NV
 
6,217
463,771
Lotus Bakeries SA
 
10
100,637
Sofina SA
 
383
90,249
Syensqo SA
 
1,839
171,117
UCB SA
 
3,139
417,235
Umicore SA
 
5,193
115,605
Warehouses de Pauw
 
4,363
116,125
Warehouses de Pauw rights (a)(b)
 
4,363
5,215
TOTAL BELGIUM
 
 
3,300,673
Brazil - 0.0%
 
 
 
Yara International ASA
 
4,101
117,214
Burkina Faso - 0.0%
 
 
 
Endeavour Mining PLC
 
4,558
96,994
Chile - 0.1%
 
 
 
Antofagasta PLC
 
9,789
270,324
China - 0.4%
 
 
 
BOC Hong Kong (Holdings) Ltd.
 
91,710
281,100
ESR Group Ltd. (c)
 
42,623
46,709
Prosus NV
 
36,314
1,215,065
SITC International Holdings Co. Ltd.
 
33,000
71,564
Wharf Holdings Ltd.
 
27,000
86,869
Wilmar International Ltd.
 
47,622
111,939
TOTAL CHINA
 
 
1,813,246
Denmark - 3.6%
 
 
 
A.P. Moller - Maersk A/S:
 
 
 
 Series A
 
76
108,309
 Series B
 
102
148,719
Carlsberg A/S Series B
 
2,445
328,884
Coloplast A/S Series B
 
3,131
377,490
Danske Bank A/S
 
17,124
494,935
Demant A/S (a)
 
2,502
120,430
DSV A/S
 
4,349
620,903
Genmab A/S (a)
 
1,640
455,313
Novo Nordisk A/S Series B
 
81,012
10,389,169
Novonesis (NOVOZYMES) B Series B
 
9,259
514,823
ORSTED A/S (a)(c)
 
4,696
259,161
Pandora A/S
 
2,099
321,207
Rockwool International A/S Series B
 
229
75,231
Svitzer A/S
 
356
11,963
Tryg A/S
 
8,670
171,815
Vestas Wind Systems A/S (a)
 
25,070
675,813
TOTAL DENMARK
 
 
15,074,165
Finland - 1.0%
 
 
 
Elisa Corp. (A Shares)
 
3,531
159,474
Fortum Corp.
 
11,140
147,181
Kesko Oyj
 
6,780
115,987
Kone OYJ (B Shares)
 
8,437
412,382
Metso Corp.
 
16,460
187,518
Neste OYJ
 
10,502
239,173
Nokia Corp.
 
132,394
481,299
Nordea Bank Abp (Helsinki Stock Exchange)
 
78,835
923,809
Orion Oyj (B Shares)
 
2,676
102,210
Sampo Oyj (A Shares)
 
11,208
453,568
Stora Enso Oyj (R Shares)
 
14,439
193,387
UPM-Kymmene Corp.
 
13,249
465,467
Wartsila Corp.
 
11,750
217,687
TOTAL FINLAND
 
 
4,099,142
France - 10.0%
 
 
 
Accor SA
 
4,698
207,116
Adevinta ASA Class B (a)
 
8,687
88,680
Aeroports de Paris SA
 
860
109,676
Air Liquide SA
 
13,019
2,546,238
Airbus Group NV
 
14,717
2,421,797
Alstom SA
 
7,154
112,805
Amundi SA (c)
 
1,524
106,937
Arkema SA
 
1,487
154,011
AXA SA
 
45,088
1,560,945
bioMerieux SA
 
1,028
109,708
BNP Paribas SA
 
25,638
1,844,958
Bollore SA
 
17,684
115,121
Bouygues SA
 
4,745
175,260
Bureau Veritas SA
 
7,885
230,736
Capgemini SA
 
3,857
810,668
Carrefour SA
 
14,076
236,804
Compagnie de St.-Gobain
 
11,314
894,741
Compagnie Generale des Etablissements Michelin SCA Series B
 
16,860
647,738
Covivio
 
1,254
62,711
Covivio rights (a)(b)
 
1,254
4,416
Credit Agricole SA
 
26,529
410,489
Danone SA
 
15,982
1,000,271
Dassault Aviation SA
 
501
107,575
Dassault Systemes SA
 
16,589
651,150
Edenred SA
 
6,196
293,986
Eiffage SA
 
1,825
195,348
Engie SA
 
45,340
787,130
EssilorLuxottica SA
 
7,323
1,569,273
Eurazeo SA
 
1,039
94,028
Gecina SA
 
1,143
117,102
Getlink SE
 
8,877
151,577
Hermes International SCA
 
786
1,888,182
Ipsen SA
 
936
113,974
Kering SA
 
1,848
650,821
Klepierre SA
 
5,342
144,007
L'Oreal SA
 
5,974
2,802,968
La Francaise des Jeux SAEM (c)
 
2,608
98,694
Legrand SA
 
6,554
673,532
LVMH Moet Hennessy Louis Vuitton SE
 
6,855
5,630,946
Orange SA
 
46,226
514,509
Pernod Ricard SA
 
5,077
769,381
Publicis Groupe SA
 
5,682
626,990
Remy Cointreau SA
 
572
54,265
Renault SA
 
4,771
237,982
Rexel SA
 
5,598
145,949
Safran SA
 
8,485
1,839,820
Sartorius Stedim Biotech
 
725
157,065
SEB SA
 
618
73,340
Societe Generale Series A
 
17,943
483,475
Sodexo SA
 
2,197
191,674
Teleperformance
 
1,418
129,356
Thales SA
 
2,348
395,789
TotalEnergies SE
 
53,895
3,912,708
Unibail-Rodamco-Westfield NV
 
2,934
245,734
Veolia Environnement SA
 
17,106
531,786
VINCI SA
 
12,430
1,456,498
Vivendi SA
 
16,619
169,661
Worldline SA (a)(c)
 
5,972
62,484
TOTAL FRANCE
 
 
41,820,585
Germany - 7.8%
 
 
 
adidas AG
 
4,022
971,772
Allianz SE
 
9,725
2,759,808
BASF AG
 
22,150
1,161,949
Bayer AG
 
24,389
711,864
Bayerische Motoren Werke AG (BMW)
 
7,916
865,493
Bechtle AG
 
2,033
98,284
Beiersdorf AG
 
2,502
375,287
Brenntag SE
 
3,295
263,240
Carl Zeiss Meditec AG
 
999
105,654
Commerzbank AG
 
26,171
389,898
Continental AG
 
2,731
177,320
Covestro AG (a)(c)
 
4,687
234,992
Daimler Truck Holding AG
 
13,279
599,590
Deutsche Bank AG
 
48,119
770,802
Deutsche Borse AG
 
4,717
909,400
Deutsche Lufthansa AG
 
14,861
106,482
Deutsche Telekom AG
 
80,466
1,843,119
DHL Group
 
24,608
1,030,335
E.ON SE
 
55,733
737,530
Evonik Industries AG
 
5,761
120,165
Fresenius Medical Care AG & Co. KGaA
 
5,099
214,682
Fresenius SE & Co. KGaA
 
10,487
313,033
GEA Group AG
 
4,063
164,336
Hannover Reuck SE
 
1,497
371,282
HeidelbergCement AG
 
3,235
326,734
Henkel AG & Co. KGaA
 
2,586
185,955
Infineon Technologies AG
 
32,419
1,125,037
Knorr-Bremse AG
 
1,800
133,570
LEG Immobilien AG
 
1,840
156,935
Mercedes-Benz Group AG (Germany)
 
19,919
1,506,691
Merck KGaA
 
3,209
510,101
MTU Aero Engines AG
 
1,336
323,082
Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen
 
3,388
1,490,381
Nemetschek SE
 
1,434
127,862
Puma AG
 
2,621
121,014
Rational AG
 
127
108,970
Rheinmetall AG
 
1,081
596,664
RWE AG
 
15,697
546,813
SAP SE
 
25,923
4,680,840
Scout24 AG (c)
 
1,862
137,310
Siemens AG
 
18,867
3,534,422
Siemens Energy AG (a)
 
12,898
265,660
Siemens Healthineers AG (c)
 
7,001
388,258
Symrise AG
 
3,295
354,104
Talanx AG
 
1,603
120,948
Volkswagen AG
 
733
103,480
Vonovia SE
 
18,202
525,965
Zalando SE (a)(c)
 
5,566
145,636
TOTAL GERMANY
 
 
32,812,749
Hong Kong - 1.7%
 
 
 
AIA Group Ltd.
 
282,045
2,065,799
CK Asset Holdings Ltd.
 
48,226
205,712
CK Infrastructure Holdings Ltd.
 
15,581
88,019
CLP Holdings Ltd.
 
40,736
320,432
Futu Holdings Ltd. ADR (a)
 
1,371
88,169
Hang Lung Properties Ltd.
 
45,400
50,109
Hang Seng Bank Ltd.
 
18,976
250,229
Henderson Land Development Co. Ltd.
 
36,140
108,956
HKT Trust/HKT Ltd. unit
 
94,292
104,096
Hong Kong & China Gas Co. Ltd.
 
277,697
211,148
Hong Kong Exchanges and Clearing Ltd.
 
29,867
949,007
Hongkong Land Holdings Ltd.
 
27,330
87,324
Jardine Matheson Holdings Ltd.
 
3,975
152,120
Link (REIT)
 
63,944
273,987
MTR Corp. Ltd.
 
38,437
126,321
Power Assets Holdings Ltd.
 
34,303
196,767
Prudential PLC
 
68,264
593,716
Sino Land Ltd.
 
94,218
100,738
Sun Hung Kai Properties Ltd.
 
36,180
333,759
Swire Pacific Ltd. (A Shares)
 
10,856
91,936
Swire Properties Ltd.
 
29,365
60,732
Techtronic Industries Co. Ltd.
 
34,292
473,892
WH Group Ltd. (c)
 
206,577
150,148
Wharf Real Estate Investment Co. Ltd.
 
41,814
129,728
TOTAL HONG KONG
 
 
7,212,844
Ireland - 0.5%
 
 
 
AerCap Holdings NV (a)
 
4,970
419,915
AIB Group PLC
 
39,007
202,563
Bank of Ireland Group PLC
 
26,232
281,208
Kerry Group PLC Class A
 
3,919
337,934
Kingspan Group PLC (Ireland)
 
3,863
345,679
Smurfit Kappa Group PLC
 
6,461
280,979
TOTAL IRELAND
 
 
1,868,278
Israel - 0.6%
 
 
 
Azrieli Group
 
1,058
68,457
Bank Hapoalim BM (Reg.)
 
31,533
285,357
Bank Leumi le-Israel BM
 
37,801
296,011
Check Point Software Technologies Ltd. (a)
 
2,323
347,103
Elbit Systems Ltd. (Israel)
 
662
135,172
Global-e Online Ltd. (a)(d)
 
2,446
82,014
Icl Group Ltd.
 
19,176
90,303
Israel Discount Bank Ltd. (Class A)
 
30,703
158,207
Mizrahi Tefahot Bank Ltd.
 
3,844
140,439
NICE Ltd. (a)
 
1,572
351,821
Teva Pharmaceutical Industries Ltd. sponsored ADR (a)
 
27,824
390,927
Wix.com Ltd. (a)
 
1,348
160,237
TOTAL ISRAEL
 
 
2,506,048
Italy - 2.4%
 
 
 
Amplifon SpA
 
3,091
103,679
Assicurazioni Generali SpA
 
25,164
614,980
Banco BPM SpA
 
30,092
198,594
Coca-Cola HBC AG
 
5,464
176,833
Davide Campari Milano NV
 
15,282
153,630
DiaSorin SpA
 
559
56,638
Enel SpA
 
201,925
1,327,140
Eni SpA
 
54,474
874,945
Ferrari NV (Italy)
 
3,129
1,292,965
FinecoBank SpA
 
15,158
233,590
Infrastrutture Wireless Italiane SpA (c)
 
8,343
89,749
Intesa Sanpaolo SpA
 
363,123
1,359,171
Leonardo SpA
 
10,047
231,920
Mediobanca SpA
 
12,661
180,383
Moncler SpA
 
5,113
349,877
Nexi SpA (a)(c)
 
14,665
85,733
Poste Italiane SpA (c)
 
11,351
144,396
Prysmian SpA
 
6,521
356,172
Recordati SpA
 
2,595
138,608
Snam SpA
 
50,074
229,102
Telecom Italia SpA (a)
 
247,468
58,867
Terna - Rete Elettrica Nazionale
 
34,930
280,474
UniCredit SpA
 
38,260
1,404,309
TOTAL ITALY
 
 
9,941,755
Japan - 22.2%
 
 
 
Advantest Corp.
 
19,032
595,714
AEON Co. Ltd.
 
16,191
338,526
AGC, Inc.
 
4,894
180,952
Aisin Seiki Co. Ltd.
 
3,674
139,745
Ajinomoto Co., Inc.
 
11,683
434,391
Ana Holdings, Inc.
 
3,963
75,265
Asahi Group Holdings
 
11,962
409,208
ASAHI INTECC Co. Ltd.
 
5,426
79,505
Asahi Kasei Corp.
 
31,093
216,785
Astellas Pharma, Inc.
 
44,913
431,071
Azbil Corp.
 
3,007
83,986
Bandai Namco Holdings, Inc.
 
14,911
278,615
Bridgestone Corp.
 
14,184
625,898
Brother Industries Ltd.
 
5,774
102,136
Canon, Inc.
 
24,871
673,141
Capcom Co. Ltd.
 
8,588
141,379
Central Japan Railway Co.
 
19,200
439,065
Chiba Bank Ltd.
 
13,205
111,544
Chubu Electric Power Co., Inc.
 
15,995
205,311
Chugai Pharmaceutical Co. Ltd.
 
16,722
531,824
Concordia Financial Group Ltd.
 
26,326
141,848
Dai Nippon Printing Co. Ltd.
 
5,105
148,689
Dai-ichi Mutual Life Insurance Co.
 
23,311
539,907
Daifuku Co. Ltd.
 
7,510
153,833
Daiichi Sankyo Kabushiki Kaisha
 
45,946
1,546,437
Daikin Industries Ltd.
 
6,517
889,514
Daito Trust Construction Co. Ltd.
 
1,409
151,037
Daiwa House Industry Co. Ltd.
 
14,750
415,049
Daiwa Securities Group, Inc.
 
33,156
243,665
DENSO Corp.
 
46,988
800,822
Dentsu Group, Inc.
 
5,063
136,970
Disco Corp.
 
2,244
639,194
East Japan Railway Co.
 
22,506
412,512
Eisai Co. Ltd.
 
6,221
255,491
ENEOS Holdings, Inc.
 
71,514
330,410
FANUC Corp.
 
23,705
702,125
Fast Retailing Co. Ltd.
 
4,391
1,148,111
Fuji Electric Co. Ltd.
 
3,111
193,516
FUJIFILM Holdings Corp.
 
27,800
591,375
Fujitsu Ltd.
 
43,680
674,775
GLP J-REIT
 
116
94,344
Hamamatsu Photonics K.K.
 
3,441
126,084
Hankyu Hanshin Holdings, Inc.
 
5,675
148,788
Hikari Tsushin, Inc.
 
490
79,636
Hirose Electric Co. Ltd.
 
753
79,928
Hitachi Construction Machinery Co. Ltd.
 
2,683
76,633
Hitachi Ltd.
 
23,025
2,124,303
Honda Motor Co. Ltd.
 
114,714
1,305,168
Hoshizaki Corp.
 
2,668
91,936
Hoya Corp.
 
8,728
1,011,923
Hulic Co. Ltd.
 
9,500
87,539
Ibiden Co. Ltd.
 
2,777
105,564
Idemitsu Kosan Co. Ltd.
 
24,035
162,840
Iida Group Holdings Co. Ltd.
 
3,837
48,983
INPEX Corp.
 
24,110
361,163
Isuzu Motors Ltd.
 
14,426
182,819
Itochu Corp.
 
29,550
1,333,142
Japan Airlines Co. Ltd.
 
3,537
62,671
Japan Exchange Group, Inc.
 
12,463
291,890
Japan Post Bank Co. Ltd.
 
35,962
365,025
Japan Post Holdings Co. Ltd.
 
51,603
495,559
Japan Post Insurance Co. Ltd.
 
4,767
89,496
Japan Real Estate Investment Corp.
 
32
108,517
Japan Retail Fund Investment Corp.
 
174
105,049
Japan Tobacco, Inc.
 
29,808
801,883
JFE Holdings, Inc.
 
14,320
213,736
Kajima Corp.
 
10,454
200,268
Kansai Electric Power Co., Inc.
 
17,480
261,840
Kao Corp.
 
11,606
478,773
Kawasaki Kisen Kaisha Ltd.
 
9,800
138,081
KDDI Corp.
 
37,200
1,032,255
KDX Realty Investment Corp.
 
103
101,593
Keisei Electric Railway Co.
 
3,419
127,368
Keyence Corp.
 
4,805
2,113,094
Kikkoman Corp.
 
16,810
200,298
Kintetsu Group Holdings Co. Ltd.
 
4,487
115,354
Kirin Holdings Co. Ltd.
 
19,274
281,354
Kobe Bussan Co. Ltd.
 
3,705
80,018
Koito Manufacturing Co. Ltd.
 
4,944
66,500
Komatsu Ltd.
 
22,968
685,736
Konami Group Corp.
 
2,455
148,128
Kubota Corp.
 
24,843
398,475
Kyocera Corp.
 
31,852
388,233
Kyowa Hakko Kirin Co., Ltd.
 
6,747
113,308
Lasertec Corp.
 
1,825
393,662
LY Corp.
 
66,317
159,335
M3, Inc.
 
10,938
115,704
Makita Corp.
 
5,573
161,343
Marubeni Corp.
 
35,572
633,764
MatsukiyoCocokara & Co.
 
8,500
120,536
Mazda Motor Corp.
 
14,072
159,288
McDonald's Holdings Co. (Japan) Ltd.
 
2,114
92,992
Meiji Holdings Co. Ltd.
 
5,782
129,369
Minebea Mitsumi, Inc.
 
9,011
168,779
Misumi Group, Inc.
 
7,067
114,894
Mitsubishi Chemical Holdings Corp.
 
31,747
185,208
Mitsubishi Corp.
 
85,605
1,957,751
Mitsubishi Electric Corp.
 
47,956
835,870
Mitsubishi Estate Co. Ltd.
 
27,984
512,799
Mitsubishi Heavy Industries Ltd.
 
79,520
710,998
Mitsubishi UFJ Financial Group, Inc.
 
275,621
2,745,559
Mitsubishi UFJ Lease & Finance Co. Ltd.
 
20,078
130,026
Mitsui & Co. Ltd.
 
32,129
1,551,050
Mitsui Chemicals, Inc.
 
4,210
119,829
Mitsui Fudosan Co. Ltd.
 
66,323
674,973
Mitsui OSK Lines Ltd.
 
8,500
269,786
Mizuho Financial Group, Inc.
 
59,899
1,157,794
MonotaRO Co. Ltd.
 
6,222
74,570
MS&AD Insurance Group Holdings, Inc.
 
31,929
574,053
Murata Manufacturing Co. Ltd.
 
42,783
781,738
NEC Corp.
 
6,135
444,186
Nexon Co. Ltd.
 
8,514
132,745
Nidec Corp.
 
10,349
484,673
Nintendo Co. Ltd.
 
25,770
1,256,777
Nippon Building Fund, Inc.
 
38
145,190
Nippon Express Holdings, Inc.
 
1,823
93,262
Nippon Paint Holdings Co. Ltd.
 
23,505
150,456
Nippon Prologis REIT, Inc.
 
56
96,634
Nippon Sanso Holdings Corp.
 
4,250
126,235
Nippon Steel & Sumitomo Metal Corp.
 
21,282
477,120
Nippon Telegraph & Telephone Corp.
 
741,925
801,029
Nippon Yusen KK
 
11,365
322,658
Nissan Chemical Corp.
 
3,107
105,912
Nissan Motor Co. Ltd.
 
59,764
218,719
Nissin Food Holdings Co. Ltd.
 
5,018
133,908
Nitori Holdings Co. Ltd.
 
2,035
272,350
Nitto Denko Corp.
 
3,563
294,609
Nomura Holdings, Inc.
 
74,585
424,388
Nomura Real Estate Holdings, Inc.
 
2,693
75,396
Nomura Real Estate Master Fund, Inc.
 
100
95,592
Nomura Research Institute Ltd.
 
9,639
233,244
NTT Data Corp.
 
15,645
244,654
Obayashi Corp.
 
16,093
179,611
OBIC Co. Ltd.
 
1,716
220,449
Odakyu Electric Railway Co. Ltd.
 
7,793
87,614
Olympus Corp.
 
29,853
415,844
OMRON Corp.
 
4,311
147,964
Ono Pharmaceutical Co. Ltd.
 
9,021
129,933
Oracle Corp. Japan
 
964
72,343
Oriental Land Co. Ltd.
 
27,070
746,908
ORIX Corp.
 
29,104
595,625
Osaka Gas Co. Ltd.
 
9,336
207,594
Otsuka Corp.
 
5,650
112,368
Otsuka Holdings Co. Ltd.
 
10,354
442,705
Pan Pacific International Holdings Ltd.
 
9,494
222,976
Panasonic Holdings Corp.
 
54,809
478,398
Rakuten Group, Inc. (a)
 
37,246
179,133
Recruit Holdings Co. Ltd.
 
35,773
1,540,649
Renesas Electronics Corp.
 
36,503
592,654
Resona Holdings, Inc.
 
52,777
333,748
Ricoh Co. Ltd.
 
13,625
117,544
ROHM Co. Ltd.
 
8,184
117,644
SBI Holdings, Inc. Japan
 
6,197
150,885
Screen Holdings Co. Ltd.
 
2,000
206,354
SCSK Corp.
 
3,858
70,135
Secom Co. Ltd.
 
5,249
364,609
Seiko Epson Corp.
 
7,144
117,519
Sekisui Chemical Co. Ltd.
 
9,498
138,177
Sekisui House Ltd.
 
14,834
340,891
Seven & i Holdings Co. Ltd.
 
56,077
724,582
SG Holdings Co. Ltd.
 
7,937
92,903
Sharp Corp. (a)
 
6,460
33,910
Shimadzu Corp.
 
5,874
159,585
SHIMANO, Inc.
 
1,924
312,675
SHIMIZU Corp.
 
12,923
80,051
Shin-Etsu Chemical Co. Ltd.
 
44,670
1,729,128
Shionogi & Co. Ltd.
 
6,141
286,789
Shiseido Co. Ltd.
 
9,969
266,853
Shizuoka Financial Group
 
11,599
108,263
SMC Corp.
 
1,396
733,412
SoftBank Corp.
 
71,413
861,361
SoftBank Group Corp.
 
25,524
1,255,286
Sompo Holdings, Inc.
 
22,177
438,886
Sony Group Corp.
 
31,313
2,588,062
Square Enix Holdings Co. Ltd.
 
2,155
77,897
Subaru Corp.
 
14,928
333,327
Sumco Corp.
 
8,649
128,985
Sumitomo Corp.
 
25,775
677,810
Sumitomo Electric Industries Ltd.
 
17,744
274,257
Sumitomo Metal Mining Co. Ltd.
 
6,186
206,666
Sumitomo Mitsui Financial Group, Inc.
 
31,587
1,794,262
Sumitomo Mitsui Trust Holdings, Inc.
 
16,310
342,915
Sumitomo Realty & Development Co. Ltd.
 
7,122
246,449
Suntory Beverage & Food Ltd.
 
3,432
111,661
Suzuki Motor Corp.
 
38,972
453,860
Sysmex Corp.
 
12,540
200,519
T&D Holdings, Inc.
 
12,196
199,006
Taisei Corp.
 
4,216
154,350
Takeda Pharmaceutical Co. Ltd.
 
39,278
1,032,307
TDK Corp.
 
9,651
430,541
Terumo Corp.
 
33,460
567,620
TIS, Inc.
 
5,472
116,863
Tobu Railway Co. Ltd.
 
4,715
93,548
Toho Co. Ltd.
 
2,790
93,472
Tokio Marine Holdings, Inc.
 
44,768
1,414,955
Tokyo Electric Power Co., Inc. (a)
 
37,925
235,904
Tokyo Electron Ltd.
 
11,750
2,577,315
Tokyo Gas Co. Ltd.
 
9,215
206,667
Tokyu Corp.
 
12,417
146,987
Toppan Holdings, Inc.
 
5,738
136,128
Toray Industries, Inc.
 
34,302
156,785
Toto Ltd.
 
3,535
95,673
Toyota Industries Corp.
 
3,641
345,993
Toyota Motor Corp.
 
263,290
6,005,275
Toyota Tsusho Corp.
 
5,257
334,240
Trend Micro, Inc.
 
3,320
163,604
Unicharm Corp.
 
9,974
296,359
USS Co. Ltd.
 
10,236
78,196
West Japan Railway Co.
 
10,940
207,657
Yakult Honsha Co. Ltd.
 
6,328
123,774
Yamaha Corp.
 
3,223
67,919
Yamaha Motor Co. Ltd.
 
22,216
207,214
Yamato Holdings Co. Ltd.
 
6,612
87,323
Yaskawa Electric Corp.
 
5,998
247,133
Yokogawa Electric Corp.
 
5,679
125,482
Zensho Holdings Co. Ltd.
 
2,400
93,022
ZOZO, Inc.
 
3,382
72,843
TOTAL JAPAN
 
 
93,220,826
Jordan - 0.0%
 
 
 
Hikma Pharmaceuticals PLC
 
4,115
98,930
Korea (South) - 0.0%
 
 
 
Delivery Hero AG (a)(c)
 
4,384
122,654
Luxembourg - 0.1%
 
 
 
ArcelorMittal SA (Netherlands)
 
12,702
319,776
Eurofins Scientific SA
 
3,353
206,111
TOTAL LUXEMBOURG
 
 
525,887
Macau - 0.1%
 
 
 
Galaxy Entertainment Group Ltd.
 
54,635
245,141
Sands China Ltd. (a)
 
60,462
142,608
TOTAL MACAU
 
 
387,749
Netherlands - 4.4%
 
 
 
ABN AMRO Bank NV:
 
 
 
 GDR (Bearer) (c)
 
11,821
190,366
 rights (a)(b)
 
11,821
11,228
Adyen BV (a)(c)
 
539
645,722
AEGON NV
 
36,049
224,508
Akzo Nobel NV
 
4,228
280,383
Argenx SE (a)
 
1,470
549,139
ASM International NV (Netherlands)
 
1,166
740,640
ASML Holding NV (Netherlands)
 
10,008
8,893,684
ASR Nederland NV
 
3,935
197,247
BE Semiconductor Industries NV
 
1,914
256,349
Euronext NV (c)
 
2,127
192,150
EXOR NV
 
2,324
254,714
Heineken Holding NV
 
3,217
259,377
Heineken NV (Bearer)
 
7,150
696,663
IMCD NV
 
1,415
214,810
ING Groep NV (Certificaten Van Aandelen)
 
82,501
1,304,363
JDE Peet's BV
 
2,433
54,059
Koninklijke Ahold Delhaize NV
 
23,642
717,633
Koninklijke KPN NV
 
83,295
302,705
Koninklijke Philips Electronics NV
 
19,277
511,924
NN Group NV
 
6,722
310,981
OCI NV
 
2,616
70,632
Randstad NV
 
2,694
135,702
Universal Music Group NV
 
20,351
601,605
Wolters Kluwer NV
 
6,169
926,636
TOTAL NETHERLANDS
 
 
18,543,220
New Zealand - 0.2%
 
 
 
Auckland International Airport Ltd.
 
32,967
151,273
Fisher & Paykel Healthcare Corp.
 
14,494
242,742
Mercury Nz Ltd.
 
17,301
64,928
Meridian Energy Ltd.
 
32,094
113,192
Spark New Zealand Ltd.
 
44,990
125,443
Xero Ltd. (a)
 
3,575
277,557
TOTAL NEW ZEALAND
 
 
975,135
Norway - 0.5%
 
 
 
Aker BP ASA
 
7,844
192,066
DNB Bank ASA
 
22,982
401,567
Equinor ASA
 
22,366
595,123
Gjensidige Forsikring ASA
 
4,967
79,903
Kongsberg Gruppen ASA
 
2,184
154,532
Mowi ASA
 
11,552
203,773
Norsk Hydro ASA
 
32,935
202,398
Orkla ASA
 
17,393
118,683
Salmar ASA
 
1,639
103,503
Telenor ASA
 
15,636
180,028
TOTAL NORWAY
 
 
2,231,576
Portugal - 0.2%
 
 
 
Energias de Portugal SA
 
77,930
293,246
Galp Energia SGPS SA Class B
 
11,537
248,708
Jeronimo Martins SGPS SA
 
7,031
145,192
TOTAL PORTUGAL
 
 
687,146
Singapore - 1.5%
 
 
 
CapitaLand Ascendas REIT
 
92,651
175,502
CapitaLand Integrated Commercial Trust
 
132,223
188,483
CapitaLand Investment Ltd.
 
64,553
124,836
City Developments Ltd.
 
12,568
56,329
DBS Group Holdings Ltd.
 
49,497
1,260,065
Genting Singapore Ltd.
 
150,094
100,168
Grab Holdings Ltd. (a)
 
47,167
165,085
Jardine Cycle & Carriage Ltd.
 
2,500
48,246
Keppel Ltd.
 
36,116
180,649
Mapletree Logistics Trust (REIT)
 
86,585
84,966
Mapletree Pan Asia Commercial Trust
 
58,777
53,862
Oversea-Chinese Banking Corp. Ltd.
 
84,028
872,343
Sea Ltd. ADR (a)
 
9,155
578,504
Seatrium Ltd. (a)
 
1,100,907
78,644
Sembcorp Industries Ltd.
 
22,200
86,759
Singapore Airlines Ltd.
 
36,962
176,369
Singapore Exchange Ltd.
 
21,289
145,223
Singapore Technologies Engineering Ltd.
 
38,693
113,660
Singapore Telecommunications Ltd.
 
204,962
355,461
STMicroelectronics NV (France)
 
16,966
671,597
United Overseas Bank Ltd.
 
31,366
696,037
TOTAL SINGAPORE
 
 
6,212,788
South Africa - 0.3%
 
 
 
Anglo American PLC (United Kingdom)
 
31,544
1,030,778
Spain - 2.5%
 
 
 
Acciona SA
 
613
71,111
ACS Actividades de Construccion y Servicios SA
 
5,240
210,152
Aena SME SA (c)
 
1,862
340,991
Amadeus IT Holding SA Class A
 
11,185
709,956
Banco Bilbao Vizcaya Argentaria SA
 
144,928
1,567,247
Banco Santander SA (Spain)
 
401,776
1,960,790
CaixaBank SA
 
93,121
491,079
Cellnex Telecom SA (c)
 
11,401
376,857
EDP Renovaveis SA
 
7,630
104,797
Enagas SA
 
6,179
90,737
Endesa SA
 
7,885
143,894
Grifols SA (a)
 
7,406
68,335
Iberdrola SA
 
152,350
1,868,051
Industria de Diseno Textil SA (d)
 
27,080
1,238,355
Redeia Corp. SA
 
10,073
168,236
Repsol SA
 
30,124
472,829
Telefonica SA
 
121,344
543,572
TOTAL SPAIN
 
 
10,426,989
Sweden - 3.0%
 
 
 
Alfa Laval AB
 
7,181
308,602
ASSA ABLOY AB (B Shares)
 
24,878
657,312
Atlas Copco AB:
 
 
 
 (A Shares)
 
66,675
1,167,885
 (B Shares)
 
38,753
589,010
Beijer Ref AB (B Shares)
 
9,554
137,366
Boliden AB
 
6,789
226,764
Epiroc AB:
 
 
 
 (A Shares)
 
16,281
300,993
 (B Shares)
 
9,762
163,521
EQT AB
 
9,271
254,312
Essity AB (B Shares)
 
15,121
376,776
Evolution AB (c)
 
4,550
508,657
Fastighets AB Balder (a)
 
16,184
104,150
Getinge AB (B Shares)
 
5,677
121,057
H&M Hennes & Mauritz AB (B Shares) (d)
 
16,034
257,160
Hexagon AB (B Shares)
 
51,534
545,951
Holmen AB (B Shares)
 
1,889
73,980
Husqvarna AB (B Shares)
 
8,686
71,472
Industrivarden AB:
 
 
 
 (A Shares)
 
3,190
103,396
 (C Shares)
 
3,713
120,247
Indutrade AB
 
6,781
158,874
Investment AB Latour (B Shares)
 
3,674
89,846
Investor AB (B Shares)
 
42,975
1,062,052
L E Lundbergforetagen AB
 
1,888
93,883
Lifco AB
 
5,786
141,757
Nibe Industrier AB (B Shares)
 
37,623
176,159
Saab AB (B Shares)
 
1,988
158,493
Sagax AB
 
5,062
127,786
Sandvik AB
 
26,465
534,804
Securitas AB (B Shares)
 
12,207
123,450
Skandinaviska Enskilda Banken AB (A Shares)
 
39,397
519,435
Skanska AB (B Shares)
 
8,447
147,051
SKF AB (B Shares)
 
8,459
176,543
Svenska Cellulosa AB SCA (B Shares)
 
15,039
221,142
Svenska Handelsbanken AB (A Shares)
 
36,213
310,538
Swedbank AB (A Shares)
 
21,078
406,244
Swedish Orphan Biovitrum AB (a)
 
4,840
125,344
Tele2 AB (B Shares)
 
13,313
124,548
Telefonaktiebolaget LM Ericsson (B Shares)
 
72,703
368,960
Telia Co. AB
 
58,564
134,235
Volvo AB:
 
 
 
 (A Shares)
 
4,975
132,180
 (B Shares)
 
37,456
963,216
Volvo Car AB
 
18,490
58,605
TOTAL SWEDEN
 
 
12,443,756
Switzerland - 5.9%
 
 
 
ABB Ltd. (Reg.)
 
39,709
1,929,398
Adecco SA (Reg.)
 
3,971
139,271
Alcon, Inc. (Switzerland)
 
12,404
959,396
Avolta AG (a)
 
2,462
93,105
Bachem Holding AG (B Shares)
 
837
72,979
Baloise Holdings AG
 
1,136
171,528
Banque Cantonale Vaudoise
 
747
78,174
Barry Callebaut AG
 
89
143,678
BKW AG
 
524
77,695
Clariant AG (Reg.)
 
5,325
79,824
Compagnie Financiere Richemont SA Series A
 
13,345
1,844,640
DSM-Firmenich AG
 
4,616
520,699
Ems-Chemie Holding AG
 
173
138,701
Geberit AG (Reg.)
 
830
445,676
Givaudan SA
 
229
983,012
Helvetia Holding AG (Reg.)
 
921
120,529
Julius Baer Group Ltd.
 
5,114
274,409
Kuehne & Nagel International AG
 
1,349
357,630
Lindt & Spruengli AG
 
2
231,493
Lindt & Spruengli AG (participation certificate)
 
31
357,803
Logitech International SA (Reg.)
 
4,082
319,988
Lonza Group AG
 
1,849
1,020,636
Novartis AG
 
50,884
4,938,677
Partners Group Holding AG
 
563
728,516
Sandoz Group AG
 
10,164
345,443
Schindler Holding AG:
 
 
 
 (participation certificate)
 
1,008
252,206
 (Reg.)
 
585
142,869
SGS SA (Reg.)
 
3,868
341,082
Sig Group AG
 
7,582
151,764
Sika AG
 
3,783
1,083,561
Sonova Holding AG
 
1,258
349,517
Straumann Holding AG
 
2,771
370,773
Swatch Group AG (Bearer)
 
703
147,708
Swatch Group AG (Bearer) (Reg.)
 
1,381
57,388
Swiss Life Holding AG
 
733
495,179
Swiss Prime Site AG
 
1,901
175,986
Swisscom AG
 
643
352,190
Temenos AG
 
1,586
99,206
UBS Group AG
 
81,649
2,155,693
VAT Group AG (c)
 
670
337,241
Zurich Insurance Group Ltd.
 
3,633
1,755,538
TOTAL SWITZERLAND
 
 
24,640,801
United Arab Emirates - 0.0%
 
 
 
NMC Health PLC (a)(e)
 
941
0
United Kingdom - 10.3%
 
 
 
3i Group PLC
 
24,164
863,318
Abrdn PLC
 
45,710
83,676
Admiral Group PLC
 
6,464
220,424
Ashtead Group PLC
 
10,863
792,985
Associated British Foods PLC
 
8,463
280,870
AstraZeneca PLC (United Kingdom)
 
38,482
5,820,362
Auto Trader Group PLC (c)
 
22,528
195,306
Aviva PLC
 
68,013
395,778
BAE Systems PLC
 
75,286
1,252,173
Barclays PLC
 
376,219
948,559
Barratt Developments PLC
 
24,191
137,446
Berkeley Group Holdings PLC
 
2,633
155,094
British American Tobacco PLC (United Kingdom)
 
49,966
1,466,816
BT Group PLC
 
160,529
205,804
Bunzl PLC
 
8,390
322,270
Burberry Group PLC
 
8,900
127,347
Centrica PLC
 
133,999
214,238
CK Hutchison Holdings Ltd.
 
66,556
323,248
Coca-Cola European Partners PLC
 
5,126
369,175
Compass Group PLC
 
42,428
1,180,081
Croda International PLC
 
3,290
189,518
DCC PLC (United Kingdom)
 
2,454
168,192
Diageo PLC
 
55,494
1,917,855
Entain PLC
 
15,860
155,887
Flutter Entertainment PLC (a)
 
4,394
819,461
Halma PLC
 
9,421
259,808
Hargreaves Lansdown PLC
 
8,832
89,811
HSBC Holdings PLC (United Kingdom)
 
475,585
4,122,349
Imperial Brands PLC
 
20,765
474,483
Informa PLC
 
34,106
339,147
InterContinental Hotel Group PLC
 
4,103
400,182
Intertek Group PLC
 
4,006
247,482
J Sainsbury PLC
 
41,148
135,431
JD Sports Fashion PLC
 
64,335
92,931
Kingfisher PLC
 
46,595
143,528
Land Securities Group PLC
 
17,577
142,872
Legal & General Group PLC
 
148,450
437,770
Lloyds Banking Group PLC
 
1,578,148
1,018,511
London Stock Exchange Group PLC
 
10,339
1,139,772
M&G PLC
 
55,871
140,395
Melrose Industries PLC
 
33,041
260,847
National Grid PLC
 
92,341
1,211,252
NatWest Group PLC
 
141,627
534,555
Next PLC
 
3,008
338,579
Ocado Group PLC (a)
 
14,400
63,535
Pearson PLC
 
15,536
188,511
Persimmon PLC
 
7,930
129,212
Phoenix Group Holdings PLC
 
18,647
114,125
Reckitt Benckiser Group PLC
 
17,720
990,672
RELX PLC (London Stock Exchange)
 
46,803
1,922,989
Rentokil Initial PLC
 
62,620
316,104
Rolls-Royce Holdings PLC (a)
 
208,944
1,071,470
Sage Group PLC
 
25,320
368,906
Schroders PLC
 
20,022
88,265
Segro PLC
 
31,569
334,511
Severn Trent PLC
 
6,683
206,013
Smith & Nephew PLC
 
21,701
262,922
Smiths Group PLC
 
8,622
174,102
Spirax-Sarco Engineering PLC
 
1,831
202,367
SSE PLC
 
27,133
563,997
St. James's Place PLC
 
13,621
74,140
Standard Chartered PLC (United Kingdom)
 
56,238
483,171
Taylor Wimpey PLC
 
87,752
144,629
Tesco PLC
 
175,151
646,670
Unilever PLC
 
62,071
3,210,983
United Utilities Group PLC
 
16,929
220,950
Vodafone Group PLC
 
571,443
481,899
Whitbread PLC
 
4,630
183,224
Wise PLC (a)
 
15,264
148,103
WPP PLC
 
26,680
267,418
TOTAL UNITED KINGDOM
 
 
42,994,476
United States of America - 8.9%
 
 
 
BP PLC
 
424,929
2,738,938
CRH PLC
 
17,223
1,342,050
CSL Ltd.
 
11,992
2,130,692
CyberArk Software Ltd. (a)
 
1,037
248,102
Experian PLC
 
22,809
919,977
Ferrovial SE
 
12,871
464,274
GSK PLC
 
102,157
2,119,443
Haleon PLC
 
170,022
718,061
Holcim AG
 
12,938
1,083,011
James Hardie Industries PLC CDI (a)
 
10,922
375,476
Monday.com Ltd. (a)
 
719
136,128
Nestle SA (Reg. S)
 
66,281
6,654,626
QIAGEN NV (Germany)
 
5,490
228,967
Roche Holding AG:
 
 
 
 (Bearer)
 
796
208,514
 (participation certificate)
 
17,440
4,178,872
Sanofi SA
 
28,258
2,791,693
Schneider Electric SA
 
13,509
3,080,232
Shell PLC (London)
 
161,425
5,738,436
Stellantis NV (Italy)
 
55,003
1,225,639
Swiss Re Ltd.
 
7,488
813,111
Tenaris SA
 
11,721
196,073
TOTAL UNITED STATES OF AMERICA
 
 
37,392,315
 
TOTAL COMMON STOCKS
 (Cost $345,833,047)
 
 
 
403,407,832
 
 
 
 
Nonconvertible Preferred Stocks - 0.4%
 
 
Shares
Value ($)
 
Germany - 0.4%
 
 
 
Bayerische Motoren Werke AG (BMW) (non-vtg.)
 
1,463
150,667
Dr. Ing. h.c. F. Porsche AG Series F (c)
 
2,827
251,678
Henkel AG & Co. KGaA
 
4,194
333,179
Porsche Automobil Holding SE (Germany)
 
3,801
193,667
Sartorius AG (non-vtg.)
 
651
196,127
Volkswagen AG
 
5,118
626,981
 
 
 
 
 
TOTAL NONCONVERTIBLE PREFERRED STOCKS
 (Cost $1,968,101)
 
 
 
1,752,299
 
 
 
 
Government Obligations - 0.1%
 
 
Principal
Amount (f)
 
Value ($)
 
United States of America - 0.1%
 
 
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (g)
  (Cost $498,400)
 
500,000
498,387
 
 
 
 
Money Market Funds - 3.3%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (h)
 
12,192,639
12,195,078
Fidelity Securities Lending Cash Central Fund 5.39% (h)(i)
 
1,583,092
1,583,250
 
TOTAL MONEY MARKET FUNDS
 (Cost $13,778,328)
 
 
13,778,328
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 100.0%
 (Cost $362,077,876)
 
 
 
419,436,846
NET OTHER ASSETS (LIABILITIES) - 0.0%  
91,390
NET ASSETS - 100.0%
419,528,236
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
ICE E-mini MSCI EAFE Index Contracts (United States)
126
Jun 2024
14,285,250
(239,772)
(239,772)
 
 
 
 
 
 
The notional amount of futures purchased as a percentage of Net Assets is 3.4%
 
 
Legend
 
(a)
Non-income producing
 
(b)
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
 
(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 $5,111,829 or 1.2% of net assets.
 
(d)
Security or a portion of the security is on loan at period end.
 
(e)
Level 3 security
 
(f)
Amount is stated in United States dollars unless otherwise noted.
 
(g)
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 $498,387.
 
(h)
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.
 
(i)
Investment made with cash collateral received from securities on loan.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
12,736,920
55,009,022
55,550,663
249,048
(201)
-
12,195,078
0.0%
Fidelity Securities Lending Cash Central Fund 5.39%
-
12,431,036
10,847,786
9,258
-
-
1,583,250
0.0%
Total
12,736,920
67,440,058
66,398,449
258,306
(201)
-
13,778,328
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
15,884,845
3,334,923
12,549,922
-
Consumer Discretionary
48,846,389
13,176,975
35,669,414
-
Consumer Staples
35,038,416
8,372,668
26,665,748
-
Energy
17,616,740
1,050,300
16,566,440
-
Financials
78,768,019
24,860,353
53,907,666
-
Health Care
52,587,961
7,926,449
44,661,512
-
Industrials
68,823,599
18,885,419
49,938,180
-
Information Technology
36,012,955
12,954,069
23,058,886
-
Materials
29,381,016
10,635,095
18,745,921
-
Real Estate
9,282,182
1,806,007
7,476,175
-
Utilities
12,918,009
3,214,863
9,703,146
-
 Government Obligations
498,387
-
498,387
-
  Money Market Funds
13,778,328
13,778,328
-
-
 Total Investments in Securities:
419,436,846
119,995,449
299,441,397
-
 Derivative Instruments:
 Liabilities
 
 
 
 
Futures Contracts
(239,772)
(239,772)
-
-
  Total Liabilities
(239,772)
(239,772)
-
-
 Total Derivative Instruments:
(239,772)
(239,772)
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
0
(239,772)
Total Equity Risk
0
(239,772)
Total Value of Derivatives
0
(239,772)
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  (including  securities loaned of $1,474,362) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $348,299,548)
$
405,658,518
 
 
Fidelity Central Funds (cost $13,778,328)
13,778,328
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $362,077,876)
 
 
$
419,436,846
Cash
 
 
1
Foreign currency held at value (cost $322,670)
 
 
321,855
Receivable for fund shares sold
 
 
277,318
Dividends receivable
 
 
1,789,937
Reclaims receivable
 
 
1,033,830
Distributions receivable from Fidelity Central Funds
 
 
57,881
Receivable from investment adviser for expense reductions
 
 
4,849
Other receivables
 
 
5
  Total assets
 
 
422,922,522
Liabilities
 
 
 
 
Payable for investments purchased on a delayed delivery basis
$
20,859
 
 
Payable for fund shares redeemed
1,515,322
 
 
Payable for daily variation margin on futures contracts
211,450
 
 
Other payables and accrued expenses
63,405
 
 
Collateral on securities loaned
1,583,250
 
 
  Total liabilities
 
 
 
3,394,286
Net Assets  
 
 
$
419,528,236
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
378,268,880
Total accumulated earnings (loss)
 
 
 
41,259,356
Net Assets
 
 
$
419,528,236
Net Asset Value, offering price and redemption price per share ($419,528,236 ÷ 34,766,804 shares)
 
 
$
12.07
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
6,340,783
Interest  
 
 
13,761
Income from Fidelity Central Funds (including $9,258 from security lending)
 
 
258,306
 Income before foreign taxes withheld
 
 
$
6,612,850
Less foreign taxes withheld
 
 
(521,441)
 Total income
 
 
 
6,091,409
Expenses
 
 
 
 
Custodian fees and expenses
$
41,807
 
 
Independent trustees' fees and expenses
927
 
 
 Total expenses before reductions
 
42,734
 
 
 Expense reductions
 
(18,541)
 
 
 Total expenses after reductions
 
 
 
24,193
Net Investment income (loss)
 
 
 
6,067,216
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
(1,469,170)
 
 
   Fidelity Central Funds
 
(201)
 
 
 Foreign currency transactions
 
(32,053)
 
 
 Futures contracts
 
975,054
 
 
Total net realized gain (loss)
 
 
 
(526,370)
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
51,343,310
 
 
 Assets and liabilities in foreign currencies
 
(28,416)
 
 
 Futures contracts
 
499,302
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
51,814,196
Net gain (loss)
 
 
 
51,287,826
Net increase (decrease) in net assets resulting from operations
 
 
$
57,355,042
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
6,067,216
$
10,430,686
Net realized gain (loss)
 
(526,370)
 
 
(10,708,763)
 
Change in net unrealized appreciation (depreciation)
 
51,814,196
 
44,347,299
 
Net increase (decrease) in net assets resulting from operations
 
57,355,042
 
 
44,069,222
 
Distributions to shareholders
 
(10,572,093)
 
 
(7,730,928)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
58,549,819
 
83,236,802
  Reinvestment of distributions
 
10,572,093
 
 
7,730,928
 
Cost of shares redeemed
 
(22,899,757)
 
(84,194,891)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
46,222,155
 
 
6,772,839
 
Total increase (decrease) in net assets
 
93,005,104
 
 
43,111,133
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
326,523,132
 
283,411,999
 
End of period
$
419,528,236
$
326,523,132
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
4,928,247
 
7,565,430
  Issued in reinvestment of distributions
 
938,907
 
 
744,791
 
Redeemed
 
(1,944,699)
 
(7,565,907)
Net increase (decrease)
 
3,922,455
 
744,314
 
 
 
 
 
 
Financial Highlights
 
Fidelity® Series International Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 
 
2020 
 
2019   
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
10.59
$
9.42
$
12.55
$
9.54
$
10.41
$
9.43
  Income from Investment Operations
 
 
 
 
 
 
 
 
 
 
 
 
     Net investment income (loss) A,B
 
.18
 
.34
 
.34
 
.33
 
.24
 
.33
     Net realized and unrealized gain (loss)
 
1.64
 
1.10
 
(3.17)
 
2.90
 
(.90)
 
.71
  Total from investment operations
 
1.82  
 
1.44  
 
(2.83)  
 
3.23  
 
(.66)
 
1.04
  Distributions from net investment income
 
(.34)
 
(.27)
 
(.30)
 
(.22)
 
(.20)
 
(.06)
  Distributions from net realized gain
 
-
 
-
 
-
 
-
 
(.01)
 
-
     Total distributions
 
(.34)
 
(.27)
 
(.30)
 
(.22)
 
(.21)
 
(.06)
  Net asset value, end of period
$
12.07
$
10.59
$
9.42
$
12.55
$
9.54
$
10.41
 Total Return C,D
 
17.38
%
 
 
15.30%
 
(23.05)%
 
34.15%
 
(6.52)%
 
11.06%
 Ratios to Average Net Assets B,E,F
 
 
 
 
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.02% G
 
.05%
 
.05%
 
.06%
 
.11%
 
.24%
    Expenses net of fee waivers, if any
 
.01
% G
 
 
.01%
 
.01%
 
.01%
 
.02%
 
.01%
    Expenses net of all reductions
 
.01% G
 
.01%
 
.01%
 
.01%
 
.02%
 
.01%
    Net investment income (loss)
 
3.13% G
 
3.13%
 
3.14%
 
2.73%
 
2.47%
 
3.33%
 Supplemental Data
 
 
 
 
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
419,528
$
326,523
$
283,412
$
273,653
$
129,230
$
102,589
    Portfolio turnover rate H
 
3
% G
 
 
18%
 
5%
 
6% I
 
3%
 
2%
 
ACalculated based on average shares outstanding during the period.
 
BNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
CTotal returns for periods of less than one year are not annualized.
 
DTotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
EFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
FExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
GAnnualized.
 
HAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
IPortfolio turnover rate excludes securities received or delivered in-kind.
 
For the period ended April 30, 2024
 
1. Organization.
Fidelity Series International Index Fund (the Fund) is a fund of Fidelity Concord Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered only to certain other Fidelity funds, Fidelity managed 529 plans, and Fidelity managed collective investment trusts. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense RatioA
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters. 
 
The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - unadjusted 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)
 
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 service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, ETFs and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2024 is included at the end of the Fund's Schedule of Investments.
 
 
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
 
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
 
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
 
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost and include proceeds received from litigation. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable.
 
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
 
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.
 
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to futures contracts, foreign currency transactions, passive foreign investment companies (PFIC), partnerships, capital loss carryforwards and losses deferred due to wash sales.
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:
 
Gross unrealized appreciation
$84,469,614
Gross unrealized depreciation
(28,321,994)
Net unrealized appreciation (depreciation)
$56,147,620
Tax cost
$363,049,455
 
Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
 
 Short-term
$(4,738,530)
 Long-term
(14,223,205)
Total capital loss carryforward
$(18,961,735)
 
Delayed Delivery Transactions and When-Issued Securities. During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. Securities purchased on a delayed delivery or when-issued basis are identified as such in the Schedule of Investments. Compensation for interest forgone in the purchase of a delayed delivery or when-issued debt security may be received. With respect to purchase commitments, each applicable Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Payables and receivables associated with the purchases and sales of delayed delivery securities having the same coupon, settlement date and broker are offset. Delayed delivery or when-issued securities that have been purchased from and sold to different brokers are reflected as both payables and receivables in the Statement of Assets and Liabilities under the caption "Delayed delivery", as applicable. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.
 
Restricted Securities (including Private Placements). Funds 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 held at period end is included at the end of the Schedule of Investments, if applicable.
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objectives allow for various types of derivative instruments, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
 
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.
 
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
 
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period unless an average notional amount is presented. Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, U.S. government securities and in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity Series International Index Fund
50,524,375
5,014,173
 
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund does not pay a management fee. Under the management contract, the investment adviser or an affiliate pays all ordinary operating expenses of the Fund, except custody fees, fees and expenses of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses.
 
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The commitment fees on the pro-rata portion of the line of credit are borne by the investment adviser. During the period, there were no borrowings on this line of credit.
 
8. Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income 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. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Affiliated security lending activity, if any, was as follows:
 
 
Total Security Lending Fees Paid to NFS ($)
Security Lending Income From Securities Loaned to NFS ($)
Value of Securities Loaned to NFS at Period End ($)
Fidelity Series International Index Fund
990
 -
-
 
9. Expense Reductions.
The investment adviser contractually agreed to reimburse the Fund to the extent annual operating expenses exceeded .013% of average net assets. This reimbursement will remain in place through February 28, 2027. Some expenses, for example the compensation of the independent Trustees, and certain other expenses such as interest expense, are excluded from this reimbursement. During the period this reimbursement reduced the Fund's expenses by $16,659.
 
Through arrangements with the Fund's custodian, credits realized as a result of certain uninvested cash balances were used to reduce the Fund's expenses by $1,882.
10. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
 
At the end of the period, mutual funds and accounts managed by FMR or its affiliates were the owners of record of all of the outstanding shares of the Fund.
11. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as pandemics, epidemics, outbreaks of infectious diseases, war, terrorism, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
 
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2023 to April 30, 2024).
 
Actual Expenses
The first line of the accompanying table 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 $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
 
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the 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 the 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. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing 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.
 
 
 
 
 
Annualized Expense Ratio- A
 
Beginning Account Value November 1, 2023
 
Ending Account Value April 30, 2024
 
Expenses Paid During Period- C November 1, 2023 to April 30, 2024
 
 
 
 
 
 
 
 
 
 
Fidelity® Series International Index Fund
 
 
 
.01%
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,173.80
 
$ .05
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,024.81
 
$ .05
 
A   Annualized expense ratio reflects expenses net of applicable fee waivers.
 
B   5% return per year before expenses
 
C   Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 366 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
 
 
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Fund has adopted and implemented a liquidity risk management program (the Program) reasonably designed to assess and manage the Fund's liquidity risk and to comply with the requirements of the Liquidity Rule. The Fund's Board of Trustees (the Board) has designated the Fund's investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund's liquidity risk based on a variety of factors including (1) the Fund's investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) certain factors specific to ETFs including the effect of the Fund's prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund's portfolio, as applicable.
In accordance with the Program, each of the Fund's portfolio investments is classified into one of four defined liquidity categories based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
  • Highly liquid investments - cash or convertible to cash within three business days or less
  • Moderately liquid investments - convertible to cash in three to seven calendar days
  • Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
  • Illiquid investments - cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund's illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund's net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM).  The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund's Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of the Program for the period December 1, 2022 through November 30, 2023.  The report concluded that the Program is operating effectively and is reasonably designed to assess and manage the Fund's liquidity risk.  
 
1.9891250.105
IIF-SANN-0624
Fidelity® SAI International Small Cap Index Fund
 
 
Semi-Annual Report
April 30, 2024
 
Offered exclusively to certain clients of the Adviser, or its affiliates, including Strategic Advisers LLC (Strategic Advisers) - not available for sale to the general public. Fidelity® SAI is a product name of Fidelity® funds dedicated to certain programs affiliated with Strategic Advisers.

Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Shareholder Expense Example

Liquidity Risk Management Program

To view a fund's proxy voting guidelines and proxy voting record for the 12-month period ended June 30, visit http://www.fidelity.com/proxyvotingresults or visit the Securities and Exchange Commission's (SEC) web site at http://www.sec.gov.
 
 
You may also call 1-800-544-3455 to request a free copy of the proxy voting guidelines.
The funds or securities referred to herein are not sponsored, endorsed, or promoted by MSCI, and MSCI bears no liability with respect to any such funds or securities or any index on which such funds or securities are based. The prospectus contains a more detailed description of the limited relationship MSCI has with Fidelity and any related funds.
Standard & Poor's, S&P and S&P 500 are registered service marks of The McGraw-Hill Companies, Inc. and have been licensed for use by Fidelity Distributors Corporation.
Other third-party marks appearing herein are the property of their respective owners.
All other marks appearing herein are registered or unregistered trademarks or service marks of FMR LLC or an affiliated company. © 2024 FMR LLC. All rights reserved.
 
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Fund. This report is not authorized for distribution to prospective investors in the Fund unless preceded or accompanied by an effective prospectus.
A fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-PORT. Forms N-PORT are available on the SEC's web site at http://www.sec.gov. A fund's Forms N-PORT may be reviewed and copied at the SEC's Public Reference Room in Washington, DC. Information regarding the operation of the SEC's Public Reference Room may be obtained by calling 1-800-SEC-0330.
For a complete list of a fund's portfolio holdings, view the most recent holdings listing, semiannual report, or annual report on Fidelity's web site at http://www.fidelity.com, http://www.institutional.fidelity.com, or http://www.401k.com, as applicable.
NOT FDIC INSURED •MAY LOSE VALUE •NO BANK GUARANTEE
Neither the Fund nor Fidelity Distributors Corporation is a bank.
 
Top Holdings (% of Fund's net assets)
 
Banco de Sabadell SA  (Spain, Banks)
0.4
 
Trelleborg AB (B Shares)  (Sweden, Machinery)
0.3
 
Intermediate Capital Group PLC  (United Kingdom, Capital Markets)
0.3
 
Ebara Corp.  (Japan, Machinery)
0.3
 
Asics Corp.  (Japan, Textiles, Apparel & Luxury Goods)
0.3
 
The Weir Group PLC  (United Kingdom, Machinery)
0.3
 
B&M European Value Retail SA  (United Kingdom, Broadline Retail)
0.3
 
Marks & Spencer Group PLC  (United Kingdom, Consumer Staples Distribution & Retail)
0.2
 
NEXTDC Ltd.  (Australia, IT Services)
0.2
 
Diploma PLC  (United Kingdom, Trading Companies & Distributors)
0.2
 
 
2.8
 
 
Market Sectors (% of Fund's net assets)
 
Industrials
22.3
 
Consumer Discretionary
12.5
 
Financials
12.4
 
Real Estate
9.8
 
Materials
9.8
 
Information Technology
9.1
 
Consumer Staples
6.2
 
Health Care
5.3
 
Communication Services
3.4
 
Energy
3.4
 
Utilities
2.6
 
 
Asset Allocation (% of Fund's net assets)
Futures - 1.6%
Geographic Diversification (% of Fund's net assets)
 
*    Includes Short-Term investments and Net Other Assets (Liabilities). 
Percentages are adjusted for the effect of derivatives, if applicable.
 
 
 
Showing Percentage of Net Assets
Common Stocks - 97.9%
 
 
Shares
Value ($)
 
Australia - 9.1%
 
 
 
Abacus Group unit
 
123,879
92,318
Abacus Storage King
 
161,126
117,509
Accent Group Ltd.
 
107,376
130,462
Adbri Ltd. (a)
 
108,885
220,886
AGL Energy Ltd.
 
169,017
1,029,409
Alpha HPA Ltd. (a)
 
179,984
125,061
ALS Ltd.
 
128,295
1,072,677
Altium Ltd.
 
33,068
1,397,119
Alumina Ltd. (a)
 
685,834
704,576
AMP Ltd.
 
767,492
540,188
Ansell Ltd.
 
39,992
657,512
APM Human Services International ltd.
 
88,495
69,045
ARB Corp. Ltd.
 
22,004
540,187
Arena (REIT) unit
 
97,390
229,783
Atlas Arteria Ltd. unit
 
323,047
1,075,887
Aub Group Ltd.
 
28,848
523,198
Audinate Group Ltd. (a)
 
21,255
255,182
Aussie Broadband Ltd. (a)(b)
 
65,019
155,084
Austal Ltd.
 
88,292
130,591
Australian Agricultural Co. Ltd. (a)
 
40,108
35,608
Australian Clinical Labs Ltd. (b)
 
33,238
52,172
AVZ Minerals Ltd. (a)(b)(c)
 
776,046
392,124
Bank of Queensland Ltd.
 
181,287
716,111
Bapcor Ltd.
 
95,418
357,272
Beach Energy Ltd.
 
447,417
458,148
Bega Cheese Ltd.
 
71,211
188,784
Bellevue Gold Ltd. (a)
 
318,205
359,538
Bendigo & Adelaide Bank Ltd.
 
156,558
981,326
Boral Ltd. (b)
 
76,432
281,246
Boss Energy Ltd. (a)(b)
 
112,562
354,280
Breville Group Ltd. (b)
 
27,743
456,781
Brickworks Ltd.
 
21,016
361,963
BWP Trust
 
159,500
364,998
Capricorn Metals Ltd. (a)
 
88,300
279,523
Centuria Capital Group unit
 
177,553
195,446
Centuria Industrial REIT
 
148,083
302,366
Centuria Office REIT unit
 
114,851
87,596
Cettire Ltd. (a)
 
68,222
129,684
Challenger Ltd.
 
123,150
530,580
Champion Iron Ltd.
 
107,066
485,205
Charter Hall Group unit
 
132,273
1,004,511
Charter Hall Long Wale REIT unit
 
178,714
386,557
Charter Hall Retail REIT
 
143,341
305,855
Charter Hall Social Infrastructure REIT
 
93,148
152,152
Cleanaway Waste Management Ltd.
 
588,497
1,018,083
Clinuvel Pharmaceuticals Ltd.
 
11,263
108,788
Codan Ltd./Australia
 
27,154
191,372
Collins Foods Ltd.
 
30,969
198,526
Coronado Global Resources, Inc. CDI (b)(d)
 
230,879
183,489
Corporate Travel Management Ltd.
 
34,424
337,264
Credit Corp. Group Ltd.
 
18,847
197,231
Cromwell Property Group unit
 
396,680
103,041
CSR Ltd.
 
133,321
760,435
Data#3 Ltd.
 
38,143
187,607
De Grey Mining Ltd. (a)
 
433,373
360,639
Deep Yellow Ltd. (a)
 
230,022
212,208
Deterra Royalties Ltd.
 
116,206
367,838
Dexus Industria (REIT)
 
61,526
115,683
Dicker Data Ltd.
 
24,826
171,025
Domain Holdings Australia Ltd.
 
68,856
130,131
Dominos Pizza Enterprises Ltd.
 
18,786
473,885
Downer EDI Ltd.
 
188,033
564,485
Eagers Automotive Ltd.
 
43,417
349,751
Elders Ltd.
 
43,274
235,115
Emerald Resources NL (a)
 
146,143
328,982
Evolution Mining Ltd.
 
548,737
1,415,074
EVT Ltd. (b)
 
24,605
188,311
Firefinch Ltd. (a)(b)(c)
 
325,521
42,175
Fleetpartners Group Ltd. (a)
 
68,204
157,924
Flight Centre Travel Group Ltd.
 
48,978
665,710
G8 Education Ltd.
 
201,408
158,203
Genesis Minerals Ltd. (a)
 
272,555
304,788
Gold Road Resources Ltd.
 
299,219
309,642
GrainCorp Ltd.
 
60,169
330,608
Growthpoint Properties Australia Ltd.
 
73,415
112,358
GUD Holdings Ltd.
 
38,784
254,686
Hansen Technologies Ltd.
 
50,016
151,558
Harvey Norman Holdings Ltd.
 
153,767
451,585
Healius Ltd. (a)(b)
 
180,121
138,756
HealthCo REIT
 
123,250
95,128
Helia Group Ltd.
 
82,805
212,539
Hmc Capital Ltd.
 
62,166
251,834
HomeCo Daily Needs (REIT) unit
 
459,461
360,234
HUB24 Ltd.
 
20,180
518,496
IGO Ltd.
 
189,608
944,377
Iluka Resources Ltd.
 
117,550
571,601
Imdex Ltd.
 
139,957
187,694
Incitec Pivot Ltd.
 
540,195
969,968
Ingenia Communities Group unit
 
106,787
316,510
Inghams Group Ltd.
 
97,675
231,185
Insignia Financial Ltd.
 
152,455
238,588
Integral Diagnostics Ltd.
 
673
1,107
IPH Ltd.
 
62,560
251,832
Iress Ltd. (a)
 
53,113
290,281
JB Hi-Fi Ltd.
 
30,505
1,190,369
Johns Lyng Group Ltd. (b)
 
57,471
206,093
Judo Capital Holdings Ltd. (a)(b)
 
207,638
178,278
Jumbo Interactive Ltd.
 
14,631
148,715
Karoon Energy Ltd. (a)
 
222,382
274,476
Kelsian Group Ltd.
 
49,355
175,407
Latin Resources Ltd. (a)
 
644,848
92,282
Lendlease Group unit
 
183,336
756,086
Leo Lithium Ltd. (a)(c)
 
273,636
89,517
Lifestyle Communities Ltd.
 
30,881
235,619
Link Administration Holdings Ltd.
 
120,864
174,423
Liontown Resources Ltd. (a)
 
400,147
314,025
Lovisa Holdings Ltd.
 
18,632
375,510
Lynas Rare Earths Ltd. (a)
 
257,302
1,075,871
MA Financial Group Ltd. (b)
 
26,504
78,646
Maas Group Holdings Ltd.
 
31,437
87,465
Mader Group Ltd. (b)
 
13,663
59,131
Magellan Financial Group Ltd.
 
51,142
290,391
Magellan Financial Group Ltd. warrants 4/16/27 (a)
 
5,527
426
McMillan Shakespeare Ltd.
 
15,300
182,628
Megaport Ltd. (a)
 
42,578
364,574
Metcash Ltd.
 
255,653
648,307
Monadelphous Group Ltd.
 
25,234
216,757
Mount Gibson Iron Ltd. (a)
 
153,301
43,912
Nanosonics Ltd. (a)
 
71,257
131,848
National Storage REIT unit
 
364,480
502,591
Netwealth Group Ltd.
 
37,570
472,876
Neuren Pharmaceuticals Ltd. (a)
 
32,852
403,356
New Hope Corp. Ltd.
 
154,701
450,028
NEXTDC Ltd. (a)
 
165,652
1,758,476
NIB Holdings Ltd.
 
135,221
645,753
Nick Scali Ltd.
 
20,076
201,273
Nine Entertainment Co. Holdings Ltd.
 
388,848
379,016
NRW Holdings Ltd.
 
118,619
211,730
Nufarm Ltd.
 
100,199
331,186
Objective Corp. Ltd.
 
8,056
64,505
oOh!media Ltd.
 
148,232
160,264
Orora Ltd.
 
376,673
527,980
Paladin Energy Ltd. (Australia) (a)
 
78,014
692,355
Pepper Money Ltd. (b)
 
46,370
44,250
Perenti Ltd.
 
223,141
136,964
Perpetual Trustees Australia Ltd. (b)
 
28,093
427,133
Perseus Mining Ltd. (Australia)
 
378,050
552,982
PEXA Group Ltd. (a)
 
36,531
284,148
Pinnacle Investment Management Group Ltd.
 
39,373
282,102
Platinum Asset Management Ltd.
 
117,190
80,658
PointsBet Holdings Ltd. warrants 7/8/24 (a)(c)
 
2,964
0
PolyNovo Ltd. (a)
 
186,350
241,805
Premier Investments Ltd.
 
24,244
466,349
Pro Medicus Ltd.
 
14,612
1,043,956
PWR Holdings Ltd.
 
22,260
168,507
Qube Holdings Ltd.
 
466,703
992,801
Ramelius Resources Ltd.
 
297,912
395,184
Red 5 Ltd. (a)
 
763,003
218,542
Redox Ltd.
 
49,358
98,591
Region RE Ltd. unit
 
318,938
447,104
Regis Resources Ltd. (a)
 
209,063
294,482
Resolute Mng Ltd. (a)
 
588,915
159,987
Rural Funds Group unit (b)
 
103,941
134,556
Sandfire Resources NL (a)
 
125,899
758,293
Sigma Healthcare Ltd.
 
289,405
235,657
Silex Systems Ltd. (a)
 
49,176
159,843
Silver Lake Resources Ltd. (a)
 
258,849
238,864
SiteMinder Ltd. (a)
 
60,684
221,265
Smartgroup Corp. Ltd.
 
34,948
214,289
Stanmore Resources Ltd.
 
86,889
185,717
Steadfast Group Ltd.
 
291,898
1,062,340
Strike Energy Ltd. (a)(b)
 
673,383
95,335
Super Retail Group Ltd.
 
44,348
412,365
Tabcorp Holdings Ltd.
 
645,192
302,735
Technology One Ltd.
 
80,700
835,827
Telix Pharmaceuticals Ltd. (a)
 
68,072
653,291
Temple & Webster Group Ltd. (a)
 
23,415
170,889
The Star Entertainment Group Ltd. (a)(b)
 
673,490
173,613
Tyro Payments Ltd. (a)
 
121,564
74,595
Ventia Services Group Pty Ltd.
 
224,168
521,717
Viva Energy Group Ltd. (d)
 
301,315
659,727
Vulcan Steel Ltd.
 
18,365
89,535
Waypoint (REIT) unit
 
175,938
263,999
Webjet Ltd. (a)(b)
 
107,883
566,285
Weebit Nano Ltd. (a)(b)
 
49,192
98,917
West African Resources Ltd. (a)
 
268,570
227,574
Westgold Resources Ltd.
 
130,314
186,171
Whitehaven Coal Ltd.
 
221,936
1,097,804
WorleyParsons Ltd.
 
102,689
991,277
Yancoal Australia Ltd. (b)
 
91,311
325,974
TOTAL AUSTRALIA
 
 
66,490,974
Austria - 1.0%
 
 
 
ams-OSRAM AG (a)
 
283,256
344,036
Andritz AG
 
18,849
1,033,945
AT&S Austria Technologie & Systemtechnik AG
 
7,377
164,225
BAWAG Group AG (d)
 
20,865
1,251,413
CA Immobilien Anlagen AG
 
10,196
331,876
DO & CO Restaurants & Catering AG
 
2,120
325,342
EVN AG
 
9,978
307,210
Immofinanz AG (a)
 
9,509
235,941
Immofinanz AG (a)(c)
 
25,803
0
Kontron AG
 
11,035
222,341
Lenzing AG (a)
 
5,539
179,406
Oesterreichische Post AG
 
9,291
296,469
Palfinger AG
 
4,155
93,562
PORR AG
 
5,382
81,675
Raiffeisen International Bank-Holding AG
 
36,866
683,788
S IMMO AG rights (a)(c)
 
11,010
0
Schoeller-Bleckmann Oilfield Equipment AG
 
2,911
141,973
UNIQA Insurance Group AG
 
34,129
300,485
Vienna Insurance Group AG
 
10,590
330,573
Wienerberger AG
 
29,482
1,055,905
TOTAL AUSTRIA
 
 
7,380,165
Bailiwick of Guernsey - 0.0%
 
 
 
Balanced Commercial Property Trust Ltd.
 
191,316
185,988
Bailiwick of Jersey - 0.1%
 
 
 
JTC PLC (d)
 
44,327
473,574
Belgium - 1.3%
 
 
 
Ackermans & Van Haaren SA
 
6,513
1,122,534
Aedifica SA
 
13,341
856,387
Aedifica SA rights (a)(e)
 
11,214
22,925
Barco NV
 
19,889
277,630
Bekaert SA
 
9,795
491,929
Bpost SA (b)
 
29,684
117,053
Cofinimmo SA
 
10,324
686,407
Colruyt NV
 
12,497
579,084
Deme Group NV
 
2,093
333,707
Fagron NV
 
18,143
353,167
Galapagos NV (a)
 
13,058
369,341
KBC Ancora
 
9,873
477,829
Kinepolis Group NV
 
3,800
162,417
Melexis NV
 
5,676
477,325
Montea SICAFI SCA
 
4,550
391,374
Ontex Group NV (a)(b)
 
18,119
182,924
Proximus
 
37,222
274,687
Recticel SA (b)
 
12,240
161,714
Retail Estates NV
 
3,156
220,946
Shurgard Self Storage SA
 
9,601
394,478
Solvay SA Class A
 
20,830
672,882
Tessenderlo Group
 
7,070
181,837
VGP NV
 
3,848
420,514
X-Fab Silicon Foundries SE (a)(d)
 
16,473
114,797
Xior Student Housing NV (a)
 
9,309
278,168
Xior Student Housing NV:
 
 
 
 rights (a)(e)
 
9,309
5,183
 rights (a)(e)
 
9,309
12,078
TOTAL BELGIUM
 
 
9,639,317
Bermuda - 0.0%
 
 
 
Cool Co. Ltd.
 
6,859
74,712
China - 0.3%
 
 
 
CITIC 1616 Holdings Ltd.
 
453,000
153,627
E-Commodities Holdings Ltd.
 
342,000
70,732
Fosun Tourism Group (a)(b)(d)
 
67,800
32,111
Health & Happiness H&H International Holdings Ltd.
 
61,500
79,954
Kerry Logistics Network Ltd.
 
99,000
92,659
Sasseur (REIT)
 
153,600
75,837
Shangri-La Asia Ltd.
 
360,000
251,097
Theme International Holdings Ltd.
 
1,390,000
106,162
TI Fluid Systems PLC (d)
 
92,743
160,619
VSTECS Holdings Ltd.
 
180,000
114,619
Yangzijiang Shipbuilding Holdings Ltd.
 
722,700
927,667
Yanlord Land Group Ltd. (a)
 
157,800
51,780
TOTAL CHINA
 
 
2,116,864
Cyprus - 0.0%
 
 
 
Atalaya Mining PLC
 
26,870
149,243
Denmark - 2.2%
 
 
 
ALK-Abello A/S (a)
 
36,893
688,883
Alm. Brand A/S
 
238,893
415,309
Ambu A/S Series B (a)
 
52,660
848,042
Bavarian Nordic A/S (a)
 
21,987
482,909
Better Collective A/S (a)
 
10,759
288,491
Cadeler A/S (a)
 
47,156
224,138
cBrain A/S
 
3,040
122,446
Cementir SpA
 
13,266
140,725
Chemometec A/S
 
4,312
184,477
D/S Norden A/S
 
6,291
265,902
DFDS A/S
 
9,665
296,219
FLSmidth & Co. A/S
 
12,110
608,888
GN Store Nord A/S (a)
 
38,012
1,036,656
H Lundbeck A/S
 
78,652
383,081
H Lundbeck A/S Class A
 
11,007
46,382
ISS A/S
 
44,125
828,342
Jyske Bank A/S (Reg.)
 
13,441
1,093,335
Matas A/S
 
9,558
154,538
Netcompany Group A/S (a)(d)
 
12,629
461,871
Nilfisk Holding A/S (a)
 
3,393
71,366
NKT A/S (a)
 
15,023
1,255,338
NTG Nordic Transport Group A/S (a)
 
1,549
62,834
Per Aarsleff Holding A/S
 
4,985
233,954
Ringkjoebing Landbobank A/S
 
7,655
1,290,273
Royal Unibrew A/S
 
14,059
1,062,135
Scandinavian Tobacco Group A/S (d)
 
15,528
250,620
Schouw & Co.
 
3,497
281,205
Solar Holding A/S
 
1,496
70,210
Spar Nord Bank A/S
 
20,437
362,602
Svitzer A/S
 
3,966
133,271
Sydbank A/S
 
15,791
805,716
Topdanmark A/S
 
12,627
526,840
Zealand Pharma A/S (a)
 
14,869
1,346,718
TOTAL DENMARK
 
 
16,323,716
Egypt - 0.1%
 
 
 
Centamin PLC
 
317,264
480,482
Faroe Islands - 0.1%
 
 
 
Bakkafrost
 
14,082
860,753
Finland - 1.2%
 
 
 
Cargotec Corp. (B Shares)
 
10,776
851,011
Citycon Oyj (b)
 
24,123
98,806
Finnair Oyj (a)
 
25,014
78,483
Huhtamaki Oyj
 
26,986
1,035,629
Kemira Oyj
 
29,921
652,045
Kempower OYJ (a)(b)
 
5,352
109,835
Kojamo OYJ
 
34,896
387,307
Konecranes Oyj
 
18,733
989,997
Mandatum Holding OY
 
112,651
523,202
Marimekko Oyj
 
8,481
115,490
Metsa Board OYJ (B Shares)
 
45,539
327,802
Musti Group OYJ
 
1,885
50,292
Nokian Tyres PLC
 
33,380
292,110
Outokumpu Oyj (A Shares)
 
100,120
406,557
Puuilo Oyj
 
21,052
229,610
Qt Group Oyj (a)(b)
 
5,383
417,355
Revenio Group Oyj
 
5,825
162,871
TietoEVRY Oyj
 
29,849
565,105
Tokmanni Group Corp.
 
12,989
197,393
Valmet Corp. (b)
 
43,732
1,094,897
YIT OYJ
 
35,975
74,865
TOTAL FINLAND
 
 
8,660,662
France - 3.6%
 
 
 
Abivax SA (a)
 
10,112
159,283
Air France KLM (Reg.) (a)(b)
 
33,595
345,547
Altarea SCA
 
1,151
99,619
ALTEN
 
8,367
988,469
Antin Infrastructure Partners SA
 
9,875
126,463
Atos SE (a)(b)
 
26,115
56,409
Aubay
 
1,973
86,329
Believe SA (a)
 
6,761
108,230
Beneteau SA (b)
 
10,792
140,740
Bonduelle SCA
 
4,507
38,960
Carmila SA
 
19,632
330,192
Coface SA
 
29,592
456,339
Compagnie des Alpes
 
5,589
81,238
Compagnie Plastic Omnium SA
 
16,595
203,313
Derichebourg
 
27,934
118,947
Elior SA (a)(b)(d)
 
30,721
84,718
Elis SA
 
52,211
1,176,798
Equasens
 
1,492
93,784
Eramet SA
 
2,380
232,023
Esker SA
 
1,493
278,514
Etablissements Maurel & Prom
 
16,301
104,031
Euroapi SASU (a)
 
14,284
45,000
Eutelsat Communications (a)(b)
 
41,638
168,235
Exclusive Networks SA (a)
 
3,672
78,375
Fnac Darty SA
 
3,304
116,535
Forvia SE (a)
 
44,272
708,706
Gaztransport et Technigaz SA
 
9,834
1,374,825
Gl Events
 
2,031
40,749
ICADE
 
9,852
262,851
ID Logistics Group (a)
 
770
284,323
Imerys SA
 
9,652
311,903
Interparfums SA
 
5,731
290,822
Ipsos SA
 
10,844
727,924
JCDecaux SA (a)
 
18,084
378,651
Kaufman & Broad SA
 
2,972
95,944
LISI
 
3,788
99,447
Manitou BF SA
 
2,742
67,450
Mercialys SA
 
25,903
280,860
Mersen SA
 
6,058
224,985
Metropole Television SA
 
6,847
96,892
Neoen SA (d)
 
19,191
589,023
Nexans SA
 
8,592
920,606
Nexity
 
12,318
138,556
Orpea (a)
 
21,909
299,280
OVH Groupe SAS (a)(b)
 
10,511
74,876
Peugeot Invest
 
1,437
162,251
Pierre Et Vacances La Defense (a)
 
36,328
55,828
Pluxee France SA
 
24,860
766,469
Quadient SA
 
8,063
154,715
Rubis SCA
 
27,373
949,405
SCOR SE
 
42,686
1,395,790
Seche Environment SA
 
656
73,509
Societe BIC SA
 
6,545
460,998
Soitec SA (a)
 
7,019
693,637
Sopra Steria Group
 
4,318
949,283
SPIE SA
 
39,488
1,440,400
Technip Energies NV
 
43,088
1,022,673
Television Francaise 1 SA
 
11,718
107,297
Trigano SA
 
2,453
375,660
Ubisoft Entertainment SA (a)
 
26,773
633,444
Valeo SA
 
58,373
739,790
Vallourec SA (a)
 
44,901
779,392
Valneva SE (a)(b)
 
28,637
103,298
Verallia SA (d)
 
20,698
799,618
Vicat SA
 
4,997
184,781
Virbac SA
 
1,168
432,532
Voltalia SA (a)(b)
 
11,773
98,252
VusionGroup (a)(b)
 
2,039
335,760
Wavestone
 
2,072
118,301
Wendel SA
 
7,445
763,146
TOTAL FRANCE
 
 
26,582,993
Gabon - 0.0%
 
 
 
BW Energy Ltd. (a)
 
17,758
46,519
Georgia - 0.2%
 
 
 
Bank of Georgia Group PLC
 
9,606
645,771
TBC Bank Group PLC
 
11,706
506,102
TOTAL GEORGIA
 
 
1,151,873
Germany - 4.3%
 
 
 
1&1 AG
 
9,801
172,584
About You Holding AG (a)(b)
 
15,279
73,457
Adesso AG (b)
 
888
103,675
Adtran Networks SE (a)
 
4,998
106,251
Aixtron AG
 
31,768
741,115
Amadeus Fire AG
 
1,494
179,848
Aroundtown SA (a)(b)
 
216,757
451,658
ATOSS Software AG
 
1,098
295,290
Aurubis AG
 
8,692
697,563
Auto1 Group SE (a)(d)
 
26,800
136,713
BayWa AG (b)
 
4,479
107,550
Bilfinger Berger AG
 
7,990
372,627
Borussia Dortmund GmbH & Co. KGaA (a)
 
21,823
86,171
CANCOM AG (b)
 
9,403
294,022
CECONOMY AG (a)
 
39,286
90,644
Cewe Stiftung & Co. KGAA
 
1,439
153,263
CompuGroup Medical AG
 
7,671
230,204
CTS Eventim AG
 
17,422
1,546,918
CureVac NV (a)
 
27,651
70,055
Datagroup AG
 
1,166
58,485
Dermapharm Holding SE
 
5,461
182,999
Deutsche Pfandbriefbank AG (b)(d)
 
38,451
182,687
Deutz AG
 
33,238
193,498
Duerr AG
 
14,358
369,281
Eckert & Ziegler Strahlen-und Medizintechnik AG
 
4,055
161,069
ELMOS Semiconductor AG
 
1,712
142,510
ElringKlinger AG
 
8,898
63,433
Encavis AG (a)
 
33,761
608,903
Energiekontor AG
 
1,946
133,952
Evotec OAI AG (a)(b)
 
39,752
409,653
Fielmann AG
 
6,951
325,284
Flatex AG
 
21,191
277,826
Formycon AG (a)
 
2,441
106,676
Fraport AG Frankfurt Airport Services Worldwide (a)
 
10,388
521,932
Freenet AG
 
33,165
921,652
Gerresheimer AG
 
9,671
1,042,410
GFT Technologies AG
 
4,979
146,655
Grand City Properties SA (a)
 
19,475
217,190
Grenkeleasing AG
 
7,751
181,154
Hamborner (REIT) AG
 
20,435
139,573
Hamburger Hafen und Logistik AG (b)
 
6,200
111,292
Heidelberger Druckmaschinen AG (a)(b)
 
79,430
80,105
HelloFresh AG (a)
 
44,299
297,023
Hensoldt AG
 
17,816
700,828
Hornbach Holding AG & Co. KGaA
 
2,181
171,309
Hugo Boss AG
 
15,775
850,845
Hypoport AG (a)(b)
 
1,260
334,285
Ionos SE (a)
 
5,797
148,787
Jenoptik AG
 
14,528
391,328
JOST Werke AG (d)
 
3,278
158,472
K+S AG
 
50,052
749,152
KION Group AG
 
20,190
934,699
Kloeckner & Co. AG
 
15,129
107,369
Knaus Tabbert AG (b)
 
1,143
51,842
Krones AG
 
3,900
514,433
Lanxess AG
 
24,196
685,057
MBB SE
 
473
52,700
Medios AG (a)
 
3,861
58,346
Metro Wholesale & Food Specialist AG
 
31,554
169,046
Montana Aerospace AG (a)(d)
 
7,799
150,677
Morphosys AG (a)(b)
 
10,524
743,133
mutares AG
 
3,749
168,639
Nagarro SE (a)
 
2,292
174,768
Nordex SE (a)(b)
 
33,290
471,089
NORMA Group AG
 
8,400
167,636
Northern Data AG (a)(b)
 
3,354
92,885
Patrizia Immobilien AG (b)
 
11,706
103,689
Pfeiffer Vacuum Technology AG
 
1,075
177,363
PNE AG (b)
 
8,570
122,738
ProSiebenSat.1 Media AG
 
39,609
308,576
PVA TePla AG (a)
 
6,052
120,584
SAF-Holland SA
 
12,570
242,538
Salzgitter AG
 
6,619
170,944
Schaeffler AG
 
34,362
200,958
SCHOTT Pharma AG & Co. KGaA
 
10,598
444,717
secunet Security Network AG (b)
 
444
71,455
SGL Carbon AG (a)(b)
 
17,967
129,044
Siltronic AG
 
4,537
353,942
Sirius Real Estate Ltd.
 
379,149
461,448
Sixt SE (b)
 
3,918
376,316
SMA Solar Technology AG
 
4,338
228,791
Softwareone Holding AG
 
31,111
529,995
Stabilus Se
 
6,795
422,045
Steico AG (b)
 
1,798
71,380
STRATEC Biomedical Systems AG
 
2,157
99,674
Stroeer SE & Co. KGaA
 
9,337
599,361
Suedzucker AG (Bearer)
 
16,815
240,463
Suess MicroTec AG
 
5,259
261,819
TAG Immobilien AG (a)
 
49,228
703,459
Takkt AG
 
6,467
89,997
TeamViewer AG (a)(d)
 
39,070
517,441
Thyssenkrupp AG
 
137,443
690,566
Thyssenkrupp Nucera AG & Co. (b)(d)
 
6,868
88,174
TUI AG (GB) (a)(b)
 
127,788
903,775
United Internet AG
 
26,852
648,782
Varta AG (a)(b)
 
5,322
53,190
VERBIO Vereinigte BioEnergie AG (b)
 
5,353
112,084
VIB Vermoegen AG (a)
 
3,331
39,174
Vitesco Technologies Group AG
 
2,220
151,272
Vossloh AG
 
2,405
116,781
Wacker Chemie AG
 
5,126
550,329
Wacker Construction Equipment AG
 
5,737
102,736
Wuestenrot & Wuerttembergische AG
 
6,414
90,354
TOTAL GERMANY
 
 
31,428,129
Ghana - 0.0%
 
 
 
Tullow Oil PLC (a)(b)
 
338,904
153,722
Guatemala - 0.1%
 
 
 
Millicom International Cellular SA (depository receipt) (a)
 
38,406
791,093
Hong Kong - 1.3%
 
 
 
ASMPT Ltd.
 
86,700
1,077,480
Bank of East Asia Ltd.
 
292,202
367,910
C-Mer Eye Care Holdings Ltd. (a)
 
150,000
56,527
Cafe de Coral Holdings Ltd.
 
96,000
99,565
Chow Sang Sang Holdings International Ltd.
 
103,000
110,660
Citychamp Watch & Jewel Gr Ltd. (a)
 
370,000
49,095
CK Life Sciences International Holding, Inc. (b)
 
800,000
38,185
Cowell e Holdings, Inc. (a)(b)
 
71,000
161,082
Dah Sing Banking Group Ltd.
 
114,400
93,544
Dah Sing Financial Holdings Ltd.
 
53,200
149,008
Fortune (REIT)
 
414,000
203,389
Giordano International Ltd.
 
308,000
78,602
Guotai Junan International Holdings Ltd.
 
791,000
57,282
HKBN Ltd.
 
235,000
70,691
Hong Kong Resources Holdings Co. Ltd. (a)(e)
 
4,141
498
Hutchison Port Holdings Trust
 
1,382,600
176,803
Hutchison Telecommunications Hong Kong Holdings Ltd.
 
408,000
53,669
Hysan Development Co. Ltd.
 
170,000
264,959
Johnson Electric Holdings Ltd.
 
101,535
138,512
Kerry Properties Ltd.
 
166,000
321,810
Luk Fook Holdings International Ltd.
 
101,000
242,134
Man Wah Holdings Ltd.
 
442,400
322,886
Melco Crown Entertainment Ltd. sponsored ADR (a)
 
61,529
402,400
Melco International Development Ltd. (a)
 
201,000
150,986
New World Development Co. Ltd. (b)
 
391,000
415,223
Nissin Foods Co. Ltd.
 
57,000
37,369
NWS Holdings Ltd.
 
269,000
227,398
Pacific Basin Shipping Ltd.
 
1,484,000
513,847
PAX Global Technology Ltd.
 
189,000
158,132
PCCW Ltd.
 
1,172,000
585,993
Perfect Shape (PRC) Holdings Ltd.
 
102,931
31,884
Realord Group Holdings Ltd. (a)(b)
 
122,000
84,158
SmarTone Telecommunications Holdings Ltd.
 
92,000
42,840
Stella International Holdings Ltd.
 
157,500
287,096
Sunevision Holdings Ltd.
 
191,000
60,688
Super Hi International Holding Ltd. (a)(b)
 
55,000
99,651
Texhong International Group Ltd. (a)
 
77,000
41,819
The United Laboratories International Holdings Ltd.
 
276,000
325,472
United Energy Group Ltd. (b)
 
2,168,000
154,649
Value Partners Group Ltd. (b)
 
378,000
86,208
Vitasoy International Holdings Ltd.
 
222,000
165,692
Viva Goods Co. Ltd.
 
1,160,000
109,152
Vtech Holdings Ltd.
 
45,000
260,109
Xinyi Glass Holdings Ltd.
 
475,000
507,588
Yue Yuen Industrial (Holdings) Ltd.
 
228,500
404,572
TOTAL HONG KONG
 
 
9,287,217
Indonesia - 0.2%
 
 
 
First Pacific Co. Ltd.
 
642,000
300,247
First Resources Ltd.
 
151,600
156,181
Golden Agri-Resources Ltd.
 
1,767,400
353,208
Nickel Industries Ltd.
 
464,864
279,204
TOTAL INDONESIA
 
 
1,088,840
Ireland - 0.4%
 
 
 
C&C Group PLC (United Kingdom)
 
112,161
230,968
Cairn Homes PLC
 
170,815
288,389
COSMO Pharmaceuticals NV
 
2,515
197,807
Dalata Hotel Group PLC
 
60,602
272,926
Glanbia PLC
 
55,374
1,054,257
Glenveagh Properties PLC (a)(d)
 
150,592
205,068
Greencore Group PLC (a)
 
130,511
214,939
Irish Residential Properties REIT PLC
 
125,739
132,981
Keywords Studios PLC
 
21,543
309,569
Origin Enterprises PLC
 
31,065
111,061
Uniphar PLC
 
66,686
182,900
TOTAL IRELAND
 
 
3,200,865
Israel - 2.8%
 
 
 
Africa Israel Residences Ltd.
 
1,772
106,463
Airport City Ltd. (a)
 
19,341
298,981
Alony Hetz Properties & Investments Ltd.
 
43,499
282,735
Amot Investments Ltd.
 
66,918
281,862
Ashtrom Group Ltd.
 
11,846
163,998
Aura Investments Ltd.
 
41,417
160,725
Azorim Investment Development & Construction Co. Ltd. (a)
 
20,723
94,929
Bezeq The Israel Telecommunication Corp. Ltd.
 
540,724
671,705
Big Shopping Centers Ltd. (a)
 
3,795
392,112
Blue Square Real Estate Ltd.
 
1,540
115,449
Camtek Ltd.
 
8,149
676,243
Cellcom Israel Ltd. (Israel) (a)
 
29,235
122,592
Clal Insurance Enterprises Holdings Ltd. (a)
 
17,395
291,354
Danel Adir Yeoshua Ltd.
 
1,450
131,373
Danya Cebus Ltd.
 
2,185
50,151
Delek Automotive Systems Ltd.
 
17,504
98,849
Delek Group Ltd.
 
2,620
310,200
Delta Galil Industries Ltd.
 
2,830
126,159
Elco Ltd.
 
2,644
81,193
Electra Consumer Products 1970 Ltd.
 
3,515
75,126
Electra Israel Ltd.
 
605
231,222
Electra Real Estate Ltd.
 
6,182
60,174
Energean PLC (b)
 
43,688
602,677
Energix-Renewable Energies Ltd.
 
75,347
282,125
Enlight Renewable Energy Ltd. (a)
 
33,116
534,136
Equital Ltd. (a)
 
6,490
179,871
Fattal Holdings 1998 Ltd. (a)
 
2,045
248,571
FIBI Holdings Ltd.
 
5,061
211,954
First International Bank of Israel
 
15,539
619,209
Formula Systems (1985) Ltd.
 
2,835
206,849
Fox Wizel Ltd.
 
2,304
182,699
G City Ltd. (a)
 
28,254
82,233
Harel Insurance Investments and Financial Services Ltd.
 
29,774
273,179
Hilan Ltd.
 
4,409
248,280
Isracard Ltd.
 
57,279
210,339
Israel Canada T.R Ltd.
 
44,394
164,090
Israel Corp. Ltd. (Class A)
 
1,055
252,524
Isras Holdings Ltd.
 
1,067
83,298
Isras Investment Co. Ltd.
 
507
96,951
Ituran Location & Control Ltd.
 
4,154
106,675
Kornit Digital Ltd. (a)
 
13,855
213,506
Kvutzat Acro Ltd.
 
7,578
83,787
M Yochananof & Sons Ltd.
 
1,428
74,078
Magic Software Enterprises Ltd.
 
7,505
88,937
Matrix IT Ltd.
 
9,677
195,524
Maytronics Ltd.
 
13,448
115,012
Mega Or Holdings Ltd.
 
6,528
169,723
Melisron Ltd.
 
7,329
503,793
Menora Mivtachim Holdings Ltd.
 
6,004
144,610
Migdal Insurance & Financial Holdings Ltd.
 
115,597
146,781
Mivne Real Estate KD Ltd.
 
169,976
409,988
Nano Dimension Ltd. ADR (a)(b)
 
62,726
151,170
Naphtha Israel Petroleum Corp. Ltd. (a)
 
8,696
45,111
Nayax Ltd. (a)
 
2,360
63,042
Next Vision Stabilized Systems Ltd.
 
15,199
203,106
Nova Ltd. (a)
 
8,081
1,398,001
Oddity Tech Ltd. (b)
 
8,969
291,851
Oil Refineries Ltd.
 
689,615
200,711
One Software Technologies Ltd.
 
12,875
178,725
OPC Energy Ltd. (a)
 
31,072
234,100
OY Nofar Energy Ltd. (a)
 
4,932
123,114
Partner Communications Co. Ltd. (a)
 
35,881
167,722
Paz Oil Co. Ltd.
 
2,800
279,877
Perion Network Ltd. (a)
 
13,021
163,874
Plus500 Ltd.
 
22,322
603,035
Prashkovsky Investments & Construction Ltd.
 
2,104
49,636
Radware Ltd. (a)
 
10,416
172,176
Rami Levi Chain Stores Hashikma Marketing 2006 Ltd.
 
2,471
140,864
Reit 1 Ltd.
 
55,418
223,055
Retailors Ltd.
 
5,345
117,452
Sapiens International Corp. NV
 
9,359
290,401
Sella Capital Real Estate Ltd.
 
60,937
123,270
Shapir Engineering and Industry Ltd.
 
39,508
216,248
Shikun & Binui Ltd. (a)
 
94,104
202,385
Shufersal Ltd.
 
74,625
493,026
Similarweb Ltd. (a)
 
7,556
55,839
Strauss Group Ltd.
 
14,307
263,072
Summit Real Estate Holdings Ltd.
 
11,225
135,931
Tadiran Group Ltd.
 
828
57,647
Tel Aviv Stock Exchange Ltd.
 
25,697
170,253
The Phoenix Holdings Ltd.
 
46,382
445,145
Tower Semiconductor Ltd. (a)
 
30,747
1,004,178
WalkMe Ltd. (a)
 
6,276
48,827
YH Dimri Construction & Development Ltd.
 
2,116
165,925
ZIM Integrated Shipping Services Ltd. (b)
 
27,341
362,268
TOTAL ISRAEL
 
 
20,396,031
Italy - 3.5%
 
 
 
A2A SpA
 
436,901
865,147
ACEA SpA
 
11,576
201,122
Anima Holding SpA (d)
 
49,848
234,177
Ariston Holding NV (b)
 
17,274
89,188
Arnoldo Mondadori Editore SpA
 
35,543
85,156
Ascopiave SpA
 
15,273
40,096
Azimut Holding SpA
 
30,046
794,252
Banca Generali SpA
 
16,120
633,424
Banca IFIS SpA
 
6,578
147,000
Banca Mediolanum S.p.A.
 
61,651
669,782
Banca Monte dei Paschi di Siena SpA
 
264,417
1,283,946
Banca Popolare di Sondrio SCARL
 
101,884
854,623
BFF Bank SpA (d)
 
49,635
638,294
BPER Banca
 
277,153
1,446,649
Brembo N.V.
 
42,218
539,399
Brunello Cucinelli SpA
 
9,520
976,351
Buzzi SpA
 
26,904
972,187
Carel Industries SpA (d)
 
14,398
292,253
CIR SpA (a)
 
184,819
110,454
Credito Emiliano SpA
 
23,621
250,067
Cromwell European (REIT)
 
90,290
143,406
d'Amico International Shipping SA
 
11,764
84,492
Danieli & C. Officine Meccaniche SpA
 
2,929
101,277
Datalogic SpA
 
5,662
34,382
De'Longhi SpA
 
21,121
695,595
Digital Value SpA
 
660
41,205
El.En. Group SpA
 
13,816
174,427
Enav SpA (d)
 
76,876
317,011
ERG SpA
 
16,859
455,196
Eurogroup Laminations SpA (b)
 
23,903
104,588
Ferretti SpA
 
41,546
127,250
Fila SpA
 
8,934
83,998
Fincantieri Cantieri Navali It (a)(b)
 
148,245
112,485
GVS SpA (a)(d)
 
19,100
111,702
Hera SpA
 
228,544
826,828
Illimity Bank SpA
 
16,486
91,928
Industrie de Nora SpA (b)
 
9,271
125,060
Intercos SpA
 
13,258
185,917
Interpump Group SpA
 
21,348
935,909
Iren SpA
 
178,731
359,357
Italgas SpA
 
135,778
753,492
Iveco Group NV
 
49,370
621,978
Juventus Football Club SpA (a)(b)
 
45,405
85,622
Lottomatica Group SpA
 
24,270
281,802
LU-VE SpA
 
2,143
49,399
Maire Tecnimont SpA
 
41,101
341,693
MARR SpA
 
9,292
119,790
MFE-MediaForEurope NV
 
16,224
65,309
MFE-MediaForEurope NV Class A
 
45,734
134,611
OVS (d)
 
60,867
159,405
Pharmanutra SpA (b)
 
1,087
61,946
Piaggio & C SpA
 
47,160
138,103
Pirelli & C. SpA (d)
 
84,009
535,057
Rai Way SpA (d)
 
26,048
147,888
Reply SpA
 
6,280
824,348
SAES Getters SpA
 
3,230
90,658
Safilo Group SpA (a)
 
61,717
76,798
Saipem SpA (a)
 
334,903
773,432
Salcef Group SpA
 
6,015
165,937
Salvatore Ferragamo Italia SpA (b)
 
19,478
193,942
Sanlorenzo SpA
 
3,390
148,873
Saras SpA
 
117,874
222,657
Seco SpA (a)(b)
 
11,009
42,648
Sesa SpA
 
2,143
224,013
SOL SpA
 
10,007
386,063
Tamburi Investment Partners SpA
 
25,261
245,862
Technogym SpA (d)
 
38,931
368,316
Technoprobe SpA (a)
 
42,423
339,780
Tinexta SpA
 
5,817
110,128
Tod's SpA (a)
 
2,698
123,868
Unipol Gruppo SpA
 
110,081
989,169
Webuild SpA
 
114,675
289,064
Webuild SpA warrants 8/2/30 (a)
 
6,588
16,607
Wiit SpA
 
3,542
60,858
Zignago Vetro SpA
 
9,847
131,569
TOTAL ITALY
 
 
25,556,265
Japan - 33.5%
 
 
 
77 Bank Ltd.
 
15,200
429,709
Abalance Corp. (b)
 
2,800
35,828
ABC-MART, Inc.
 
27,800
553,728
ACOM Co. Ltd.
 
133,200
343,459
Activia Properties, Inc.
 
193
479,016
Adastria Co. Ltd.
 
6,800
148,065
Adeka Corp.
 
21,900
455,098
Advance Logistics Investment Corp.
 
167
128,844
Advance Residence Investment Corp.
 
381
823,728
Aeon (REIT) Investment Corp.
 
469
410,151
Aeon Delight Co. Ltd.
 
5,500
130,087
AEON Financial Service Co. Ltd.
 
31,000
258,050
Aeon Hokkaido Corp.
 
13,300
78,230
AEON MALL Co. Ltd.
 
25,100
286,966
Ai Holdings Corp.
 
9,400
144,577
Aica Kogyo Co. Ltd.
 
14,900
345,371
Aichi Corp.
 
7,500
50,423
Aichi Financial Group, Inc.
 
11,300
213,133
Aida Engineering Ltd.
 
11,700
66,233
Aiful Corp.
 
89,500
259,973
Ain Holdings, Inc.
 
7,600
287,633
Air Water, Inc.
 
51,400
771,782
Airtrip Corp.
 
4,000
35,908
Alfresa Holdings Corp.
 
48,200
714,299
Alpen Co. Ltd.
 
4,400
57,996
Alps Alpine Co. Ltd.
 
52,400
473,002
Amada Co. Ltd.
 
95,400
1,041,965
Amano Corp.
 
15,100
363,174
Amvis Holdings, Inc.
 
10,900
148,708
Anicom Holdings, Inc.
 
21,200
79,854
Anritsu Corp.
 
38,400
292,767
Anycolor, Inc. (a)(b)
 
6,900
94,985
Aoki International Co. Ltd.
 
9,700
68,335
Aoyama Trading Co. Ltd.
 
11,800
121,201
Aozora Bank Ltd. (b)
 
31,600
490,967
Appier Group, Inc. (a)
 
19,300
159,073
Arata Corp.
 
8,000
177,248
Arcland Sakamoto Co. Ltd.
 
13,280
163,480
ARCS Co. Ltd.
 
11,100
217,857
ARE Holdings, Inc.
 
19,700
254,634
Argo Graphics, Inc.
 
4,600
118,007
Ariake Japan Co. Ltd.
 
5,000
162,918
Artience Co. Ltd.
 
10,400
192,738
As One Corp.
 
15,600
257,014
Asahi Yukizai Corp.
 
3,500
109,280
Asics Corp.
 
45,100
1,933,092
ASKUL Corp.
 
10,900
164,615
Atom Corp. (a)(b)
 
31,700
181,367
Autobacs Seven Co. Ltd.
 
18,000
182,000
Avex, Inc.
 
8,600
70,805
Axial Retailing, Inc.
 
18,000
120,301
AZ-Com Maruwa Holdings, Inc.
 
16,400
125,685
Bank of Nagoya Ltd.
 
2,800
125,034
Base Co. Ltd.
 
2,300
50,937
BayCurrent Consulting, Inc.
 
37,100
789,754
Belc Co. Ltd.
 
2,900
138,398
Bell System24 Holdings, Inc.
 
9,000
88,429
Belluna Co. Ltd.
 
12,900
51,943
Bengo4.Com, Inc. (a)(b)
 
2,200
40,164
Bic Camera, Inc.
 
26,100
253,438
Biprogy, Inc.
 
21,500
625,465
BML, Inc.
 
5,900
108,978
Bunka Shutter Co. Ltd.
 
13,900
149,810
C. Uyemura & Co. Ltd.
 
2,700
176,733
Calbee, Inc.
 
22,500
491,435
Canon Electronics, Inc.
 
5,300
75,644
Canon Marketing Japan, Inc.
 
12,600
346,215
Casio Computer Co. Ltd.
 
54,200
451,555
Cawachi Ltd.
 
3,500
63,163
Cellebrite DI Ltd. (a)(b)
 
14,491
156,648
Central Glass Co. Ltd.
 
5,300
94,119
Change Holdings, Inc. (b)
 
11,100
83,110
Chiyoda Corp. (a)
 
43,100
118,847
Chofu Seisakusho Co. Ltd.
 
4,600
66,502
Chudenko Corp.
 
7,200
145,278
Chugin Financial Group, Inc.
 
41,900
352,849
Chugoku Electric Power Co., Inc.
 
81,100
556,768
Chugoku Marine Paints Ltd.
 
10,400
136,108
Ci Takiron Corp.
 
11,000
45,584
Citizen Watch Co. Ltd.
 
62,300
413,858
CKD Corp.
 
15,500
289,680
Coca-Cola Bottlers Japan, Inc.
 
37,700
527,820
COLOPL, Inc.
 
16,500
63,771
Colowide Co. Ltd.
 
21,000
286,099
Comforia Residential REIT, Inc.
 
192
415,631
COMSYS Holdings Corp.
 
31,500
737,338
Comture Corp.
 
6,700
82,053
Cosmo Energy Holdings Co. Ltd.
 
17,200
822,254
Cosmos Pharmaceutical Corp.
 
5,600
515,167
Cover Corp. (a)(b)
 
8,400
89,748
CRE Logistics REIT, Inc.
 
164
156,968
Create Restaurants Holdings, Inc.
 
32,110
221,286
Create SD Holdings Co. Ltd.
 
7,400
159,924
Credit Saison Co. Ltd.
 
41,500
766,055
Curves Holdings Co. Ltd.
 
14,000
65,753
CyberAgent, Inc.
 
120,800
752,653
CYBERDYNE, Inc. (a)
 
31,700
40,647
Cybozu, Inc.
 
8,000
80,974
Daicel Chemical Industries Ltd.
 
64,200
596,296
Daido Steel Co. Ltd.
 
35,900
395,852
Daiei Kankyo Co. Ltd.
 
11,100
185,509
Daihen Corp.
 
5,400
328,252
Daiho Corp.
 
1,400
29,326
Daiichikosho Co. Ltd.
 
21,000
245,121
Daiki Aluminum Industry Co. Ltd.
 
7,100
59,927
Daikokutenbussan Co. Ltd.
 
1,400
71,583
Daio Paper Corp.
 
23,200
166,101
Daiseki Co. Ltd.
 
12,380
235,282
Daishi Hokuetsu Financial Group, Inc.
 
10,200
292,356
Daiwa House REIT Investment Corp.
 
650
1,091,855
Daiwa Industries Ltd.
 
7,300
74,168
Daiwa Office Investment Corp.
 
79
288,027
Daiwa Securities Living Invest
 
560
380,245
Daiwabo Holdings Co. Ltd.
 
23,100
401,249
DCM Holdings Co. Ltd.
 
30,900
286,082
Demae-Can Co. Ltd. (a)(b)
 
15,200
26,220
DeNA Co. Ltd.
 
21,200
213,826
Denka Co. Ltd.
 
21,800
323,022
Dentsu Soken, Inc. (b)
 
7,200
238,522
Descente Ltd.
 
9,600
216,455
Dexerials Corp.
 
15,400
576,832
Dic Corp.
 
21,500
401,826
Digital Arts, Inc.
 
3,100
83,134
Digital Garage, Inc.
 
9,600
169,316
Dip Corp.
 
9,800
165,622
Dmg Mori Co. Ltd. (b)
 
33,500
895,540
Doshisha Co. Ltd.
 
6,700
92,350
Doutor Nichires Holdings Co., Ltd.
 
8,200
109,810
Dowa Holdings Co. Ltd.
 
14,500
542,982
DTS Corp.
 
11,000
300,088
Duskin Co. Ltd.
 
11,300
234,903
Dydo Group Holdings, Inc.
 
5,000
86,543
Eagle Industry Co. Ltd.
 
6,200
71,916
Earth Corp.
 
4,600
128,023
Ebara Corp.
 
25,800
2,126,799
EDION Corp.
 
18,400
190,087
eGuarantee, Inc.
 
10,600
115,852
Eiken Chemical Co. Ltd.
 
10,200
129,710
Eizo Corp.
 
4,000
128,527
Elan Corp.
 
8,600
49,369
Elecom Co. Ltd.
 
12,700
120,187
Electric Power Development Co. Ltd.
 
41,000
696,467
EM Systems Co. Ltd.
 
9,200
38,640
en japan, Inc.
 
8,200
136,325
Enplas Corp. (b)
 
1,600
86,670
eRex Co. Ltd. (b)
 
8,200
42,996
ES-Con Japan Ltd.
 
11,000
72,442
euglena Co. Ltd. (a)(b)
 
27,600
90,618
Exedy Corp.
 
8,000
146,470
Exeo Group, Inc.
 
50,900
554,772
Ezaki Glico Co. Ltd.
 
13,200
340,771
Fancl Corp.
 
21,500
251,112
FCC Co. Ltd.
 
10,200
145,134
Ferrotec Holdings Corp.
 
12,800
243,028
Financial Products Group Co. Ltd.
 
17,200
241,039
Food & Life Companies Ltd.
 
31,000
585,926
FP Corp.
 
12,800
205,957
FP Partner, Inc.
 
2,200
70,062
Freee KK (a)
 
12,500
218,788
Frontier Real Estate Investment Corp.
 
133
386,644
Fuji Co. Ltd.
 
8,400
102,424
Fuji Corp.
 
21,500
360,671
Fuji Kyuko Co. Ltd.
 
6,400
136,641
Fuji Media Holdings, Inc.
 
13,000
154,510
Fuji Oil Holdings, Inc.
 
12,600
185,447
Fuji Seal International, Inc.
 
10,800
138,774
Fuji Soft ABC, Inc.
 
15,000
587,007
Fujicco Co. Ltd.
 
5,100
61,404
Fujikura Ltd.
 
70,300
1,208,058
Fujimi, Inc.
 
14,700
318,839
Fujimori Kogyo Co. Ltd.
 
4,000
108,238
Fujio Food Group, Inc. (a)
 
5,600
51,188
Fujitec Co. Ltd.
 
16,300
402,016
Fujitsu General Ltd.
 
16,500
212,839
Fujiya Co. Ltd.
 
2,900
45,617
Fukuda Denshi Co. Ltd.
 
4,300
178,304
Fukui Computer Holdings, Inc.
 
3,300
51,423
Fukuoka (REIT) Investment Fund
 
176
189,043
Fukuoka Financial Group, Inc.
 
46,000
1,221,876
Fukushima Galilei Co. Ltd.
 
3,300
131,950
Fukuyama Transporting Co. Ltd.
 
5,600
135,312
Fullcast Holdings Co. Ltd.
 
5,200
49,845
Funai Soken Holdings, Inc.
 
11,400
172,473
Furukawa Co. Ltd.
 
7,200
91,269
Furukawa Electric Co. Ltd.
 
19,100
408,948
Fuso Chemical Co. Ltd.
 
5,400
138,690
Future Corp.
 
11,800
119,043
Fuyo General Lease Co. Ltd.
 
4,700
403,070
G-7 Holdings, Inc.
 
5,700
50,410
G-Tekt Corp.
 
6,100
83,226
Genky DrugStores Co. Ltd.
 
2,100
76,979
Geo Holdings Corp.
 
6,700
84,266
Giken Ltd.
 
4,600
57,101
Global One Real Estate Investment Corp.
 
281
191,218
GLOBERIDE, Inc.
 
4,400
56,003
Glory Ltd.
 
11,400
205,408
GMO Financial Gate, Inc.
 
1,200
53,390
GMO Financial Holdings, Inc.
 
11,900
56,920
GMO Internet, Inc.
 
18,800
308,680
GMO Payment Gateway, Inc.
 
11,800
539,746
GNI Group Ltd. (a)
 
13,700
214,958
Godo Steel Ltd.
 
2,400
80,460
Goldcrest Co. Ltd.
 
4,400
70,925
GOLDWIN, Inc.
 
6,100
370,005
GREE, Inc.
 
17,000
50,193
GS Yuasa Corp.
 
22,600
426,404
GungHo Online Entertainment, Inc.
 
12,000
176,418
Gunma Bank Ltd.
 
95,700
582,445
Gunze Ltd.
 
4,000
135,577
H.I.S. Co. Ltd. (a)
 
15,600
173,337
H.U. Group Holdings, Inc.
 
15,000
228,017
H2O Retailing Corp.
 
26,500
299,430
Hakuhodo DY Holdings, Inc.
 
60,000
558,078
Hakuto Co. Ltd.
 
2,900
100,142
Halows Co. Ltd.
 
2,700
79,154
Hamakyorex Co. Ltd.
 
4,100
101,078
Hankyu REIT, Inc.
 
172
153,964
Hanwa Co. Ltd.
 
9,600
369,373
Harmonic Drive Systems, Inc.
 
14,900
372,124
Haseko Corp.
 
67,000
809,445
Hazama Ando Corp.
 
46,000
342,979
Heiwa Corp.
 
15,000
187,905
Heiwa Real Estate (REIT), Inc.
 
267
239,373
Heiwa Real Estate Co. Ltd.
 
8,400
232,227
Heiwado Co. Ltd.
 
7,200
111,023
Hiday Hidaka Corp.
 
7,300
129,757
Hino Motors Ltd. (a)
 
81,300
237,329
Hioki EE Corp.
 
2,500
99,694
Hirata Corp.
 
2,400
107,373
Hirogin Holdings, Inc.
 
74,700
537,569
Hisamitsu Pharmaceutical Co., Inc.
 
14,100
342,089
Hitachi Zosen Corp.
 
45,900
355,261
Hogy Medical Co. Ltd.
 
6,000
141,794
Hokkaido Electric Power Co., Inc.
 
47,600
338,232
Hokkoku Financial Holdings, Inc.
 
5,500
176,557
Hokuetsu Corp. (b)
 
26,800
226,026
Hokuhoku Financial Group, Inc.
 
31,900
391,316
Hokuriku Electric Power Co., Inc.
 
47,700
279,061
Hokuto Corp.
 
5,400
62,614
Horiba Ltd.
 
10,100
979,893
Hoshino Resorts REIT, Inc.
 
70
245,038
Hosiden Corp.
 
10,900
136,104
House Foods Group, Inc.
 
18,000
354,651
Hulic (REIT), Inc.
 
355
339,285
I'll, Inc.
 
2,400
41,035
Ichibanya Co. Ltd.
 
19,500
134,639
Ichigo Real Estate Investment Corp.
 
271
138,961
Ichigo, Inc.
 
69,400
186,940
Idec Corp.
 
7,800
137,679
IDOM, Inc.
 
17,700
156,963
IHI Corp.
 
41,100
984,105
Iino Kaiun Kaisha Ltd.
 
19,500
156,744
Inaba Denki Sangyo Co. Ltd.
 
14,700
342,959
Inabata & Co. Ltd.
 
12,300
250,735
Inageya Co. Ltd.
 
4,300
34,769
Industrial & Infrastructure Fund Investment Corp.
 
677
559,798
Infocom Corp.
 
6,400
109,514
Infomart Corp.
 
53,100
123,970
INFRONEER Holdings, Inc.
 
54,016
478,349
Insource Co. Ltd.
 
14,400
69,967
Internet Initiative Japan, Inc.
 
30,800
521,105
Invincible Investment Corp.
 
1,882
843,213
Iriso Electronics Co. Ltd.
 
5,500
107,551
Isetan Mitsukoshi Holdings Ltd.
 
94,400
1,325,864
Ispace, Inc. (a)(b)
 
13,500
64,862
ITO EN Ltd.
 
15,100
366,406
Itochu Enex Co. Ltd.
 
14,300
138,410
Itochushokuhin Co. Ltd.
 
1,400
66,210
Itoham Yonekyu Holdings, Inc.
 
7,160
186,847
Iwatani Corp.
 
12,300
698,425
Iyogin Holdings, Inc.
 
70,700
539,569
Izumi Co. Ltd.
 
9,200
213,739
J Trust Co. Ltd.
 
23,000
65,448
J-Oil Mills, Inc.
 
5,200
65,187
J. Front Retailing Co. Ltd.
 
68,400
595,685
JAC Recruitment Co. Ltd.
 
18,200
87,700
JACCS Co. Ltd.
 
5,800
208,434
JAFCO Co. Ltd.
 
14,600
164,770
Japan Airport Terminal Co. Ltd.
 
18,300
646,707
Japan Aviation Electronics Industry Ltd.
 
12,800
205,634
Japan Elevator Service Holdings Co. Ltd.
 
18,500
287,501
Japan Excellent, Inc.
 
341
278,561
Japan Hotel REIT Investment Corp.
 
1,300
683,147
Japan Lifeline Co. Ltd.
 
16,200
118,903
Japan Logistics Fund, Inc.
 
248
442,189
Japan Material Co. Ltd.
 
17,900
252,533
Japan Petroleum Exploration Co. Ltd.
 
9,200
388,086
Japan Prime Realty Investment Corp.
 
237
512,836
Japan Pulp & Paper Co. Ltd.
 
2,500
86,855
Japan Securities Finance Co. Ltd.
 
23,800
241,281
Japan Steel Works Ltd.
 
18,800
456,348
Japan Wool Textile Co. Ltd./The
 
13,700
118,271
JCR Pharmaceuticals Co. Ltd.
 
21,300
109,493
Jcu Corp.
 
5,300
126,535
JDC Corp.
 
11,900
38,935
JEOL Ltd.
 
12,300
487,318
JGC Holdings Corp.
 
61,700
594,737
JINS Holdings, Inc.
 
3,700
77,733
JMDC, Inc.
 
6,400
129,463
Joshin Denki Co. Ltd.
 
5,400
87,108
Joyful Honda Co. Ltd.
 
14,100
200,531
JTEKT Corp.
 
57,800
447,418
JTOWER, Inc. (a)
 
3,800
77,613
Juroku Financial Group, Inc.
 
9,200
276,322
Justsystems Corp.
 
8,900
155,026
JVCKENWOOD Holdings, Inc.
 
43,300
220,113
K's Holdings Corp.
 
39,400
378,210
Kadokawa Corp.
 
24,000
438,677
KAGA ELECTRONICS Co. Ltd.
 
5,100
200,909
Kagome Co. Ltd.
 
21,200
541,933
Kakaku.com, Inc.
 
37,100
426,745
Kaken Pharmaceutical Co. Ltd.
 
8,800
191,286
Kameda Seika Co. Ltd.
 
3,700
97,428
Kamigumi Co. Ltd.
 
25,200
544,209
Kanamoto Co. Ltd.
 
8,100
136,234
Kandenko Co. Ltd.
 
32,000
356,951
Kaneka Corp.
 
12,200
316,005
Kanematsu Corp.
 
22,100
359,342
Kansai Paint Co. Ltd.
 
50,100
652,211
Kanto Denka Kogyo Co. Ltd.
 
11,300
77,113
Kappa Create Co. Ltd. (a)
 
6,600
67,402
Kasumigaseki Capital Co. Ltd.
 
1,700
157,990
Katakura Industries Co. Ltd.
 
5,300
64,819
Katitas Co. Ltd.
 
14,900
179,513
Kato Sangyo
 
5,800
168,200
Kawasaki Heavy Industries Ltd.
 
42,300
1,309,526
KeePer Technical Laboratory Co. Ltd.
 
3,900
110,902
Keihan Electric Railway Co., Ltd.
 
26,900
562,605
Keihanshin Bldg Co. Ltd.
 
9,000
90,218
Keikyu Corp.
 
65,700
522,280
Keio Corp.
 
28,800
704,657
Kewpie Corp.
 
27,700
556,280
Kfc Holdings Japan Ltd.
 
4,100
132,978
KH Neochem Co. Ltd.
 
8,700
133,586
Ki-Star Real Estate Co. Ltd.
 
2,400
58,181
Kinden Corp.
 
34,500
658,299
Kintetsu Department Store Co. Ltd.
 
2,800
38,821
Kisoji Co. Ltd.
 
7,200
114,862
Kissei Pharmaceutical Co. Ltd.
 
7,400
169,563
Kitz Corp.
 
16,100
137,039
Koa Corp.
 
8,300
85,605
Kobayashi Pharmaceutical Co. Ltd.
 
13,200
467,939
Kobe Steel Ltd.
 
98,200
1,198,584
Koei Tecmo Holdings Co. Ltd.
 
33,400
310,666
Kohnan Shoji Co. Ltd.
 
6,400
180,739
Kokuyo Co. Ltd.
 
22,200
379,269
KOMEDA Holdings Co. Ltd.
 
12,800
210,096
KOMERI Co. Ltd.
 
8,900
215,790
Konica Minolta, Inc. (a)
 
134,300
446,566
Konishi Co. Ltd.
 
14,600
123,990
Konoike Transport Co. Ltd.
 
7,000
101,488
Kosaido Holdings Co. Ltd.
 
17,700
81,697
Kose Corp.
 
9,400
484,702
Koshidaka Holdings Co. Ltd.
 
13,300
72,760
Kotobuki Spirits Co. Ltd.
 
28,600
294,482
Krosaki Harima Corp.
 
5,200
112,405
Kumagai Gumi Co. Ltd.
 
8,700
229,360
Kumiai Chemical Industry Co. Ltd.
 
20,100
102,446
Kura Sushi, Inc. (b)
 
6,000
186,238
Kuraray Co. Ltd.
 
79,200
877,467
Kureha Chemical Industry Co. Ltd.
 
10,500
187,187
Kurita Water Industries Ltd.
 
29,300
1,160,400
Kusuri No Aoki Holdings Co. Ltd.
 
13,500
251,699
Kyb Corp.
 
5,000
170,695
Kyoei Steel Ltd.
 
6,200
88,265
Kyokuto Kaihatsu Kogyo Co. Ltd.
 
8,400
137,000
Kyorin Pharmaceutical Co. Ltd.
 
10,500
122,350
Kyoritsu Maintenance Co. Ltd.
 
17,600
375,332
Kyoto Financial Group, Inc.
 
63,800
1,135,587
Kyudenko Corp.
 
11,900
493,896
Kyushu Electric Power Co., Inc.
 
112,700
1,045,505
Kyushu Financial Group, Inc.
 
91,000
608,885
Kyushu Railway Co.
 
37,400
804,695
LaSalle Logiport REIT
 
524
525,562
Leopalace21 Corp. (a)
 
45,300
149,929
LIFE Corp.
 
6,100
152,386
Lifenet Insurance Co. (a)
 
16,700
147,458
Link & Motivation, Inc.
 
13,500
42,777
Lintec Corp.
 
10,500
209,328
Lion Corp.
 
68,400
613,410
LITALICO, Inc.
 
6,400
74,009
LIXIL Group Corp.
 
80,200
861,406
M&A Capital Partners Co. Ltd.
 
3,900
52,652
M&A Research Institute Holding (a)
 
6,600
208,575
Mabuchi Motor Co. Ltd.
 
26,200
405,782
Macnica Fuji Electronics Holdings, Inc.
 
12,800
564,391
Maeda Kosen Co. Ltd.
 
4,900
107,236
Makino Milling Machine Co. Ltd.
 
6,200
248,699
Management Solutions Co. Ltd.
 
3,000
32,392
Mandom Corp.
 
10,000
82,504
Mani, Inc.
 
20,500
237,493
Maruha Nichiro Corp.
 
11,100
216,511
Marui Group Co. Ltd.
 
43,700
667,468
Maruichi Steel Tube Ltd.
 
16,100
414,551
Maruka Furusato Corp.
 
4,500
69,077
Maruwa Ceramic Co. Ltd.
 
2,400
505,747
Maruzen Showa Unyu Co. Ltd.
 
3,600
107,704
Matsuda Sangyo Co. Ltd.
 
3,600
62,658
Matsui Securities Co. Ltd.
 
32,500
166,352
Matsuyafoods Holdings Co. Ltd.
 
2,400
85,185
Max Co. Ltd.
 
7,200
160,666
Maxell Ltd.
 
10,400
102,609
Maxvalu Tokai Co. Ltd.
 
2,600
50,981
MCJ Co. Ltd.
 
18,100
158,005
Mebuki Financial Group, Inc.
 
259,900
919,428
Medipal Holdings Corp.
 
52,500
823,360
Medley, Inc. (a)
 
5,900
135,240
Megachips Corp.
 
3,700
85,784
Megmilk Snow Brand Co. Ltd.
 
13,200
213,177
Meidensha Corp.
 
9,400
208,294
Meiko Electronics Co. Ltd.
 
5,800
189,235
Meitec Group Holdings, Inc.
 
19,400
361,810
Melco Holdings, Inc.
 
1,600
34,780
Menicon Co. Ltd.
 
17,000
164,027
Mercari, Inc. (a)
 
32,200
372,325
Metawater Co. Ltd.
 
7,000
87,079
Micronics Japan Co. Ltd.
 
7,900
325,429
Mie Kotsu Group Holdings, Inc.
 
13,500
50,731
Milbon Co. Ltd.
 
7,700
151,352
Mimasu Semiconductor Industries Co. Ltd.
 
4,300
99,182
Mirai Corp.
 
525
150,322
Mirai Industry Co. Ltd.
 
2,500
65,486
Mirait One Corp.
 
26,200
319,902
Mitani Sekisan Co. Ltd.
 
2,400
87,961
Mitsubishi Estate Logistics REIT Investment Corp.
 
135
346,027
Mitsubishi Gas Chemical Co., Inc.
 
43,500
769,699
Mitsubishi Logisnext Co. Ltd.
 
9,500
93,695
Mitsubishi Logistics Corp.
 
15,000
497,643
Mitsubishi Materials Corp.
 
34,500
674,219
Mitsubishi Motors Corp. of Japan
 
188,800
598,277
Mitsubishi Pencil Co. Ltd.
 
8,700
132,714
Mitsubishi Research Institute, Inc.
 
2,700
83,943
Mitsubishi Shokuhin Co. Ltd.
 
4,800
170,200
Mitsuboshi Belting Ltd.
 
6,300
193,225
Mitsui Fudosan Logistics Park, Inc.
 
162
464,753
Mitsui High-Tec, Inc.
 
5,600
250,745
Mitsui Mining & Smelting Co. Ltd.
 
15,100
473,489
Mitsui Sugar Co. Ltd.
 
4,100
79,683
Mitsui-Soko Co. Ltd.
 
5,200
153,384
Mitsuuroko Group Holdings Co. Ltd.
 
9,100
77,915
Miura Co. Ltd.
 
24,700
388,612
MIXI, Inc.
 
10,100
154,145
Mizuho Leasing Co. Ltd.
 
41,800
298,596
Mizuno Corp.
 
4,800
232,962
Mochida Pharmaceutical Co. Ltd.
 
5,900
119,021
Modec, Inc.
 
5,600
110,484
Monex Group, Inc.
 
51,300
265,062
Money Forward, Inc. (a)
 
12,200
424,821
Mori Hills REIT Investment Corp.
 
423
368,103
MORI TRUST Sogo (REIT), Inc.
 
688
319,209
Morinaga & Co. Ltd.
 
19,400
313,519
Morinaga Milk Industry Co. Ltd.
 
19,000
372,313
Morita Holdings Corp.
 
8,400
98,887
MOS Food Services, Inc.
 
6,700
148,191
Musashi Seimitsu Industry Co. Ltd.
 
11,700
123,977
Nabtesco Corp.
 
30,700
506,303
Nachi-Fujikoshi Corp.
 
3,700
79,979
Nafco Co. Ltd.
 
3,700
67,630
Nagaileben Co. Ltd.
 
6,400
95,473
Nagase & Co. Ltd.
 
24,500
423,859
Nagawa Co. Ltd.
 
2,500
116,756
Nagoya Railroad Co. Ltd.
 
52,300
682,184
Nakanishi, Inc.
 
18,200
279,587
Namura Shipbuilding Co. Ltd.
 
13,400
167,080
Nankai Electric Railway Co. Ltd.
 
28,700
499,738
NEC Networks & System Integration Corp.
 
18,500
307,323
Net One Systems Co. Ltd.
 
23,300
389,870
Nextage Co. Ltd.
 
12,300
215,948
NGK Insulators Ltd.
 
65,100
886,811
NH Foods Ltd.
 
23,000
756,613
NHK Spring Co. Ltd.
 
54,700
554,376
Nichias Corp.
 
14,900
408,405
Nichicon Corp.
 
11,800
99,890
Nichiden Corp.
 
4,400
70,846
Nichiha Corp.
 
7,200
167,883
Nichirei Corp.
 
29,900
748,595
Nifco, Inc.
 
21,100
510,060
Nihon Kohden Corp.
 
22,300
606,303
Nihon M&A Center Holdings, Inc.
 
85,400
467,423
Nihon Parkerizing Co. Ltd.
 
21,900
168,414
Nikkiso Co. Ltd.
 
12,400
99,029
Nikkon Holdings Co. Ltd.
 
14,900
292,459
Nikon Corp.
 
84,100
869,537
Nippn Corp.
 
13,000
200,615
Nippon Accommodations Fund, Inc.
 
141
587,196
Nippon Carbon Co. Ltd.
 
2,600
91,675
Nippon Ceramic Co. Ltd.
 
6,100
104,396
Nippon Densetsu Kogyo Co. Ltd.
 
11,000
150,980
Nippon Electric Glass Co. Ltd.
 
22,300
551,793
Nippon Gas Co. Ltd.
 
29,200
476,229
Nippon Kanzai Holdings Co. Ltd.
 
6,300
103,566
Nippon Kayaku Co. Ltd.
 
37,500
305,454
Nippon Light Metal Holding Co. Ltd.
 
15,500
183,923
Nippon Paper Industries Co. Ltd. (a)
 
28,300
196,758
Nippon Parking Development Co. Ltd.
 
51,400
63,093
Nippon Pillar Packing Co. Ltd.
 
5,000
196,948
Nippon REIT Investment Corp.
 
124
280,059
Nippon Seiki Co. Ltd.
 
12,600
114,576
Nippon Shinyaku Co. Ltd.
 
14,800
409,520
Nippon Shokubai Co. Ltd.
 
30,000
285,153
Nippon Signal Co. Ltd.
 
11,000
71,212
Nippon Soda Co. Ltd.
 
5,900
216,434
Nippon Television Network Corp.
 
15,100
220,421
Nipro Corp.
 
41,200
333,345
Nishi-Nippon Financial Holdings, Inc.
 
33,600
424,786
Nishi-Nippon Railroad Co. Ltd.
 
16,500
257,054
Nishimatsu Construction Co. Ltd.
 
9,400
271,799
Nishimatsuya Chain Co. Ltd.
 
11,100
153,926
Nishio Holdings Co. Ltd.
 
5,100
130,314
Nissan Shatai Co. Ltd.
 
20,200
130,568
Nissha Co. Ltd.
 
10,500
113,019
Nisshin Oillio Group Ltd.
 
7,000
224,872
Nisshin Seifun Group, Inc.
 
55,300
721,382
Nisshinbo Holdings, Inc.
 
37,400
283,530
Nissui Corp.
 
79,000
474,019
Niterra Co. Ltd.
 
42,700
1,400,468
Nitta Corp.
 
4,600
118,688
Nittetsu Mining Co. Ltd.
 
3,200
100,580
Nitto Boseki Co. Ltd.
 
6,500
232,974
Nitto Kogyo Corp.
 
6,700
179,715
Noevir Holdings Co. Ltd.
 
4,200
138,967
NOF Corp.
 
54,200
727,144
Nohmi Bosai Ltd.
 
5,800
88,276
Nojima Co. Ltd.
 
17,700
211,479
NOK Corp.
 
24,500
354,565
NOMURA Co. Ltd.
 
21,300
114,645
Nomura Micro Science Co. Ltd.
 
6,800
217,425
Noritake Co. Ltd.
 
5,200
136,508
Noritsu Koki Co. Ltd.
 
5,000
98,102
Noritz Corp.
 
7,100
80,178
North Pacific Bank Ltd.
 
74,900
215,410
NS Solutions Corp.
 
8,800
286,630
Ns United Kaiun Kaisha Ltd.
 
2,600
78,675
NSD Co. Ltd.
 
21,600
422,193
NSK Ltd.
 
104,900
576,885
NTN Corp.
 
122,000
242,112
Ntt Ud (REIT) Investment Corp.
 
408
312,799
Nxera Pharma Co. Ltd. (a)
 
21,900
202,571
Obara Group, Inc.
 
2,600
67,919
OBIC Business Consultants Ltd.
 
8,500
347,330
Ogaki Kyoritsu Bank Ltd.
 
9,800
140,366
Ohsho Food Service Corp.
 
3,200
158,592
Oiles Corp.
 
5,400
81,678
Oisix Ra Daichi, Inc. (a)(b)
 
7,200
54,547
Oji Holdings Corp.
 
239,700
938,909
Okamoto Industries, Inc.
 
2,500
78,421
Okamura Corp.
 
15,200
230,192
Okasan Securities Group, Inc.
 
43,400
207,906
Oki Electric Industry Co. Ltd.
 
23,000
164,375
Okinawa Cellular Telephone Co.
 
6,000
128,922
Okinawa Financial Group, Inc.
 
5,200
88,179
Okuma Corp.
 
6,200
278,466
Okumura Corp.
 
8,500
265,931
One (REIT), Inc.
 
66
111,116
Onward Holdings Co. Ltd.
 
28,300
108,935
Open House Group Co. Ltd.
 
21,900
665,984
Open Up Group, Inc.
 
15,100
191,284
Optex Group Co. Ltd.
 
9,500
111,523
Optorun Co. Ltd.
 
8,400
103,193
Organo Corp.
 
7,200
330,295
Orient Corp.
 
14,020
91,500
ORIX JREIT, Inc.
 
731
770,533
Osaka Organic Chemical Industry Ltd.
 
4,000
82,907
Osaka Soda Co. Ltd.
 
4,200
246,324
Osaka Steel Co. Ltd.
 
4,100
62,322
OSAKA Titanium technologies Co. Ltd. (b)
 
8,100
126,192
OSG Corp.
 
21,900
282,429
Pacific Industrial Co. Ltd.
 
11,600
119,645
Pal Group Holdings Co. Ltd.
 
11,600
138,436
PALTAC Corp.
 
7,900
239,109
Paramount Bed Holdings Co. Ltd.
 
10,300
175,497
Park24 Co. Ltd. (a)
 
36,100
388,782
Pasona Group, Inc.
 
5,700
79,987
Penta-Ocean Construction Co. Ltd.
 
76,800
385,421
PeptiDream, Inc. (a)
 
26,900
342,766
Persol Holdings Co. Ltd.
 
523,400
724,024
PHC Holdings Corp. (b)
 
7,000
50,504
Pigeon Corp.
 
33,400
304,442
Pilot Corp.
 
8,100
216,795
Piolax, Inc.
 
7,300
124,017
PKSHA Technology, Inc. (a)
 
4,800
132,223
Plus Alpha Consulting Co. Ltd.
 
6,900
87,769
Pola Orbis Holdings, Inc. (b)
 
25,200
231,239
Pressance Corp.
 
6,600
76,482
Prestige International, Inc.
 
26,400
112,743
Prima Meat Packers Ltd.
 
6,300
92,153
Raito Kogyo Co. Ltd.
 
11,300
146,829
Raiznext Corp.
 
7,500
96,413
Raksul, Inc. (a)
 
15,000
84,952
Rakus Co. Ltd.
 
25,700
259,778
Rakuten Bank Ltd.
 
26,900
545,157
Raysum Co. Ltd.
 
2,800
64,484
Relo Group, Inc.
 
30,700
266,863
Rengo Co. Ltd.
 
53,300
399,636
RENOVA, Inc. (a)
 
11,900
111,817
Resonac Holdings Corp.
 
49,173
1,066,215
Resorttrust, Inc.
 
20,900
345,903
Restar Corp.
 
4,900
92,722
Retail Partners Co. Ltd.
 
7,100
75,947
Ricoh Leasing Co. Ltd.
 
3,900
132,551
Riken Keiki Co. Ltd.
 
7,200
176,175
Riken Vitamin Co. Ltd.
 
6,500
112,015
Ringer Hut Co. Ltd.
 
6,100
89,625
Rinnai Corp.
 
26,700
578,522
Riso Kagaku Corp.
 
5,500
102,666
Rohto Pharmaceutical Co. Ltd.
 
52,900
1,032,102
Roland Corp.
 
3,900
106,021
Rorze Corp.
 
3,000
520,125
Round One Corp.
 
53,600
235,450
Royal Holdings Co. Ltd. (b)
 
8,100
126,620
RS Technologies Co. Ltd.
 
4,100
81,414
Ryobi Ltd.
 
5,900
102,482
Ryohin Keikaku Co. Ltd.
 
70,700
1,138,909
Ryoyo Ryosan Holdings, Inc.
 
8,492
149,087
S Foods, Inc.
 
4,900
94,593
Saibu Gas Co. Ltd.
 
6,500
81,049
Saizeriya Co. Ltd.
 
8,200
276,893
Sakai Moving Service Co. Ltd.
 
5,800
102,096
Sakata INX Corp.
 
11,200
113,753
Sakata Seed Corp.
 
7,900
182,018
Sakura Internet, Inc. (b)
 
5,200
193,951
SAMTY Co. Ltd.
 
7,700
131,353
Samty Residential Investment Corp.
 
102
70,189
San-A Co. Ltd.
 
5,700
171,065
San-Ai Obbli Co. Ltd.
 
13,200
173,167
SanBio Co. Ltd. (a)(b)
 
13,700
35,857
Sangetsu Corp.
 
13,000
276,364
Sanken Electric Co. Ltd.
 
6,400
276,310
Sanki Engineering Co. Ltd.
 
10,300
144,588
Sankyo Co. Ltd. (Gunma)
 
56,400
612,618
Sankyu, Inc.
 
13,900
481,908
Sanrio Co. Ltd.
 
44,900
757,034
Sansan, Inc. (a)
 
19,900
182,757
Santen Pharmaceutical Co. Ltd.
 
94,900
916,647
Sanwa Holdings Corp.
 
51,800
845,940
Sanyo Chemical Industries Ltd.
 
3,200
83,681
Sanyo Denki Co. Ltd.
 
2,500
117,872
Sanyo Special Steel Co. Ltd.
 
6,000
81,163
Sapporo Holdings Ltd.
 
17,700
639,778
Sato Holding Corp.
 
6,700
92,841
Sawai Group Holdings Co. Ltd.
 
11,200
417,373
SB Technology Corp.
 
2,600
48,265
SBI Sumishin Net Bank Ltd.
 
15,200
227,293
SBS Holdings, Inc.
 
4,500
77,569
Sega Sammy Holdings, Inc.
 
44,100
577,224
Seibu Holdings, Inc.
 
63,200
983,651
Seiko Group Corp.
 
7,400
195,739
Seino Holdings Co. Ltd.
 
34,400
460,862
Seiren Co. Ltd.
 
11,600
193,233
Sekisui House (REIT), Inc.
 
1,164
596,433
Sekisui Jushi Corp.
 
7,300
119,311
SENKO Co. Ltd.
 
30,000
219,859
Senshu Ikeda Holdings, Inc.
 
62,600
159,358
Septeni Holdings Co. Ltd.
 
21,000
61,037
Seria Co. Ltd.
 
12,600
213,585
Seven Bank Ltd.
 
162,500
290,481
Shibaura Machine Co. Ltd.
 
6,400
143,273
Shibaura Mechatronics Corp.
 
3,500
133,308
Shibuya Corp.
 
4,300
96,101
SHIFT, Inc. (a)
 
3,300
303,558
Shiga Bank Ltd.
 
11,400
294,826
Shikoku Electric Power Co., Inc.
 
47,000
389,520
Shikoku Kasei Holdings Corpora
 
7,700
86,742
Shima Seiki Manufacturing Ltd.
 
7,400
65,933
Shimamura Co. Ltd.
 
12,400
611,281
Shin Nippon Biomedical Laboratories Ltd. (b)
 
5,700
55,357
Shin-Etsu Polymer Co. Ltd.
 
11,200
109,328
Shinagawa Refractories Co. Ltd.
 
7,100
86,522
Shinko Electric Industries Co. Ltd.
 
18,600
653,051
Shinmaywa Industries Ltd.
 
14,300
109,026
Ship Healthcare Holdings, Inc.
 
21,600
321,363
Shizuoka Gas Co. Ltd.
 
9,100
55,682
SHO-BOND Holdings Co. Ltd.
 
11,100
428,648
Shochiku Co. Ltd.
 
2,500
151,501
Shoei Co. Ltd.
 
13,300
170,397
Shoei Foods Corp.
 
3,100
84,647
Showa Sangyo Co. Ltd.
 
5,200
116,580
Siix Corp.
 
7,600
78,350
Simplex Holdings, Inc.
 
9,500
153,477
SKY Perfect JSAT Holdings, Inc.
 
42,200
248,334
Skylark Holdings Co. Ltd.
 
63,600
906,342
SMS Co., Ltd.
 
19,800
273,982
Socionext, Inc.
 
49,800
1,455,935
Sohgo Security Services Co., Ltd.
 
107,000
595,106
Sojitz Corp.
 
62,860
1,618,448
Solasto Corp.
 
14,300
45,091
SOSiLA Logistics REIT, Inc.
 
192
151,168
Sotetsu Holdings, Inc.
 
22,200
353,883
Sparx Group Co. Ltd.
 
5,220
60,078
SRE Holdings Corp. (a)
 
3,200
77,893
Stanley Electric Co. Ltd.
 
36,000
637,092
Star Asia Investment Corp.
 
624
243,436
Star Micronics Co. Ltd.
 
9,700
115,174
Starts Corp., Inc.
 
8,700
196,263
Starts Proceed Investment Corp.
 
67
87,879
Strike Co. Ltd.
 
2,400
67,102
Sugi Holdings Co. Ltd.
 
29,100
426,963
Sumiseki Holdings, Inc. (b)
 
4,900
41,032
Sumitomo Bakelite Co. Ltd.
 
18,400
524,086
Sumitomo Chemical Co. Ltd.
 
417,500
891,973
Sumitomo Dainippon Pharma Co., Ltd.
 
43,900
110,791
Sumitomo Densetsu Co. Ltd.
 
4,400
98,831
Sumitomo Forestry Co. Ltd.
 
43,200
1,330,979
Sumitomo Heavy Industries Ltd.
 
30,900
861,082
Sumitomo Mitsui Construction Co. Ltd.
 
38,200
98,381
Sumitomo Osaka Cement Co. Ltd.
 
8,500
211,039
Sumitomo Riko Co. Ltd.
 
10,000
83,257
Sumitomo Rubber Industries Ltd.
 
47,900
581,403
Sun Frontier Fudousan Co. Ltd.
 
7,400
92,037
Sundrug Co. Ltd.
 
20,100
583,648
SUNWELS Co. Ltd.
 
2,900
40,441
Suruga Bank Ltd.
 
43,000
262,253
Suzuken Co. Ltd.
 
17,400
513,887
SWCC Showa Holdings Co. Ltd.
 
8,100
213,573
Systena Corp.
 
81,700
136,132
T Hasegawa Co. Ltd.
 
8,800
171,831
T-Gaia Corp.
 
4,500
60,629
Tadano Ltd.
 
26,700
214,253
Taihei Dengyo Kaisha Ltd.
 
2,800
78,809
Taiheiyo Cement Corp.
 
32,400
741,069
Taikisha Ltd.
 
6,000
176,968
Taiyo Holdings Co. Ltd.
 
11,700
238,427
Taiyo Yuden Co. Ltd.
 
34,700
812,764
Takamatsu Construction Group C
 
4,300
72,406
Takara Bio, Inc.
 
13,000
84,046
Takara Holdings, Inc.
 
40,000
262,777
Takara Leben Real Estate Investment Corp.
 
213
138,045
Takara Standard Co. Ltd.
 
11,300
137,850
Takasago International Corp.
 
3,400
75,450
Takasago Thermal Engineering Co. Ltd.
 
11,900
398,937
Takashimaya Co. Ltd.
 
39,800
564,177
Takeuchi Manufacturing Co. Ltd.
 
9,800
371,746
Takuma Co. Ltd.
 
19,400
242,767
Tama Home Co. Ltd. (b)
 
4,100
113,450
Tamron Co. Ltd.
 
5,200
241,804
Tbs Holdings, Inc.
 
9,600
250,193
Techmatrix Corp.
 
10,400
110,220
TechnoPro Holdings, Inc.
 
30,200
514,409
Teijin Ltd.
 
49,900
486,808
Tenma Corp.
 
3,300
47,168
The Awa Bank Ltd.
 
8,600
146,528
The Hachijuni Bank Ltd.
 
100,900
673,098
The Hyakugo Bank Ltd.
 
62,000
254,980
The Keiyo Bank Ltd.
 
25,900
127,340
The Kiyo Bank Ltd.
 
15,900
182,656
The Monogatari Corp.
 
8,500
229,655
The Musashino Bank Ltd.
 
6,900
135,111
The Nanto Bank Ltd.
 
6,800
130,694
The Nippon Road Co. Ltd.
 
6,000
71,926
The Okinawa Electric Power Co., Inc.
 
11,900
88,778
The San-In Godo Bank Ltd.
 
37,800
294,441
The Sumitomo Warehouse Co. Ltd.
 
14,300
236,808
The Toho Bank Ltd.
 
52,400
112,509
THK Co. Ltd.
 
32,800
715,667
TKC Corp.
 
7,300
167,995
TKP Corp. (a)
 
4,600
40,755
TOA Corp.
 
16,000
110,549
Toagosei Co. Ltd.
 
22,600
227,341
Tocalo Co. Ltd.
 
15,000
172,846
Toda Corp.
 
68,100
444,796
Toei Animation Co. Ltd.
 
12,000
198,604
Toei Co. Ltd.
 
9,500
225,509
Toenec Corp.
 
1,900
65,049
Toho Gas Co. Ltd.
 
20,800
534,154
Toho Holdings Co. Ltd.
 
13,900
333,006
Toho Titanium Co. Ltd. (b)
 
9,000
77,623
Tohoku Electric Power Co., Inc.
 
126,600
977,359
Tokai Carbon Co. Ltd.
 
55,600
368,872
Tokai Corp.
 
5,400
71,850
TOKAI Holdings Corp.
 
26,700
164,222
Tokai Rika Co. Ltd.
 
14,700
200,161
Tokai Tokyo Financial Holdings
 
52,700
193,121
Token Corp.
 
1,500
102,926
Tokushu Tokai Paper Co. Ltd.
 
2,600
61,684
Tokuyama Corp.
 
17,000
350,780
Tokyo Century Corp.
 
41,600
414,059
Tokyo Electron Device Ltd.
 
5,600
201,072
Tokyo Ohka Kogyo Co. Ltd.
 
26,800
710,690
Tokyo Seimitsu Co. Ltd.
 
11,200
728,815
Tokyo Steel Manufacturing Co. Ltd.
 
14,900
158,057
Tokyo Tatemono Co. Ltd.
 
52,700
876,927
Tokyo TY Financial Group, Inc.
 
7,000
207,786
Tokyotokeiba Co. Ltd.
 
4,400
121,284
Tokyu Construction Co. Ltd.
 
22,400
120,542
Tokyu Fudosan Holdings Corp.
 
171,100
1,253,522
Tokyu REIT, Inc.
 
243
250,030
TOMONY Holdings, Inc.
 
48,200
127,407
Tomy Co. Ltd.
 
22,400
358,157
Topcon Corp.
 
26,800
314,774
Topre Corp.
 
9,800
158,188
TORIDOLL Holdings Corp.
 
12,200
293,172
Torii Pharmaceutical Co. Ltd.
 
3,500
87,356
Tosei Corp.
 
7,500
117,089
Toshiba Tec Corp.
 
9,200
185,048
Tosoh Corp.
 
72,400
998,115
Totetsu Kogyo Co. Ltd.
 
6,500
129,851
Towa Corp.
 
5,700
328,266
Towa Pharmaceutical Co. Ltd.
 
7,100
127,802
Toyo Construction Co. Ltd.
 
13,200
106,953
Toyo Gosei Co. Ltd.
 
1,500
76,961
Toyo Seikan Group Holdings Ltd.
 
34,500
533,278
Toyo Suisan Kaisha Ltd.
 
24,800
1,550,851
Toyo Tanso Co. Ltd.
 
3,800
187,437
Toyo Tire Corp.
 
32,400
612,979
Toyobo Co. Ltd.
 
22,300
158,248
Toyoda Gosei Co. Ltd.
 
18,100
350,429
Toyota Boshoku Corp.
 
23,800
351,962
Trancom Co. Ltd.
 
1,800
65,452
Transcosmos, Inc.
 
6,100
131,865
TRE Holdings Corp.
 
12,400
99,802
Tri Chemical Laboratories, Inc.
 
7,200
200,285
Trusco Nakayama Corp.
 
12,800
211,742
TS tech Co. Ltd.
 
24,300
299,209
Tsubakimoto Chain Co.
 
7,100
244,439
Tsuburaya Fields Holdings, Inc. (b)
 
9,500
108,391
Tsugami Corp.
 
10,600
91,519
Tsumura & Co.
 
16,200
390,367
Tsuruha Holdings, Inc.
 
11,100
700,675
Tsurumi Manufacturing Co. Ltd.
 
4,200
94,906
TV Asahi Corp.
 
5,900
77,379
U-Next Holdings Co. Ltd.
 
5,800
162,079
Uacj Corp.
 
9,300
284,121
Ube Corp.
 
24,800
453,386
Ulvac, Inc.
 
13,100
783,325
Union Tool Co.
 
2,400
69,527
United Arrows Ltd.
 
6,900
79,519
United Super Markets Holdings, Inc.
 
14,600
83,329
United Urban Investment Corp.
 
778
745,475
Universal Entertainment Corp.
 
6,500
68,047
Ushio, Inc.
 
23,800
313,062
UT Group Co. Ltd. (a)
 
8,500
178,244
Valor Holdings Co. Ltd.
 
9,500
145,546
ValueCommerce Co. Ltd.
 
4,900
33,539
Vector, Inc.
 
7,900
66,252
Vision, Inc. (a)
 
11,400
83,382
Visional, Inc. (a)
 
6,100
278,332
VT Holdings Co. Ltd.
 
20,200
66,857
W-Scope Corp. (a)(b)
 
13,700
44,397
Wacoal Holdings Corp.
 
10,900
238,564
Wacom Co. Ltd.
 
39,400
151,317
Wakita & Co. Ltd.
 
8,500
84,342
WDB Holdings Co. Ltd.
 
2,600
37,229
WealthNavi, Inc. (a)(b)
 
11,200
101,516
Weathernews, Inc.
 
1,600
46,985
Welcia Holdings Co. Ltd.
 
26,600
391,095
West Holdings Corp. (b)
 
6,300
105,121
WingArc1st, Inc.
 
5,200
88,069
Workman Co. Ltd. (b)
 
5,700
140,035
YA-MAN Ltd. (b)
 
7,900
47,631
YAMABIKO Corp.
 
8,500
112,485
Yamada Holdings Co. Ltd.
 
162,100
464,025
Yamaguchi Financial Group, Inc.
 
52,800
533,365
Yamato Kogyo Co. Ltd.
 
11,600
623,259
Yamazaki Baking Co. Ltd.
 
33,900
820,495
Yamazen Co. Ltd.
 
17,000
149,302
Yaoko Co. Ltd.
 
5,100
275,719
Yellow Hat Ltd.
 
9,000
116,991
Yodogawa Steel Works Ltd.
 
5,300
166,346
Yokogawa Bridge Holdings Corp.
 
9,500
172,305
Yokohama Rubber Co. Ltd.
 
33,200
868,984
Yokorei Co. Ltd.
 
13,100
86,389
YONEX Co. Ltd.
 
17,600
140,350
Yoshinoya Holdings Co. Ltd.
 
17,000
311,337
Yuasa Trading Co. Ltd.
 
4,600
168,097
Yurtec Corp.
 
10,900
100,991
Zenkoku Hosho Co. Ltd.
 
14,200
498,590
Zenrin Co. Ltd.
 
9,000
50,860
Zeon Corp.
 
41,000
408,611
ZERIA Pharmaceutical Co. Ltd.
 
6,000
79,572
ZIGExN Co. Ltd.
 
16,900
56,637
Zojirushi Thermos
 
10,900
106,324
Zuken, Inc.
 
4,200
109,748
TOTAL JAPAN
 
 
245,367,494
Luxembourg - 0.1%
 
 
 
Aperam SA
 
11,820
346,137
SES SA (France) (depositary receipt)
 
107,419
522,977
TOTAL LUXEMBOURG
 
 
869,114
Macau - 0.1%
 
 
 
MECOM Power & Construction Ltd. warrants 5/24/24 (a)
 
28,650
0
SJM Holdings Ltd. (a)(b)
 
690,000
253,234
Wynn Macau Ltd.
 
443,200
411,576
TOTAL MACAU
 
 
664,810
Malta - 0.1%
 
 
 
Kambi Group PLC (a)
 
6,005
54,817
Kindred Group PLC (depository receipt)
 
61,027
685,560
TOTAL MALTA
 
 
740,377
Mexico - 0.1%
 
 
 
Borr Drilling Ltd.
 
59,812
317,946
Netherlands - 1.4%
 
 
 
Aalberts Industries NV
 
27,765
1,331,016
Alfen Beheer BV (a)(b)(d)
 
6,174
268,563
AMG Critical Materials NV
 
8,462
199,758
Arcadis NV
 
20,098
1,247,235
Basic-Fit NV (a)(b)(d)
 
14,930
329,182
Brunel International NV
 
5,618
61,034
Corbion NV
 
16,870
369,795
Eurocommercial Properties NV
 
11,866
270,997
Fastned BV (Bearer) unit (a)
 
2,147
52,699
Flow Traders Ltd.
 
9,349
192,461
Fugro NV:
 
 
 
 (Certificaten Van Aandelen)
 
31,763
774,896
 rights (a)(e)
 
31,763
13,559
Koninklijke BAM Groep NV
 
78,603
321,616
Koninklijke BAM Groep NV rights (a)(e)
 
78,603
16,777
Koninklijke Vopak NV
 
19,294
768,440
NSI NV
 
5,471
103,811
Pharming Group NV (a)(b)
 
184,840
172,899
PostNL NV (b)
 
94,362
127,389
PostNL NV rights (a)(b)(e)
 
94,362
3,021
Redcare Pharmacy NV (a)(d)
 
4,246
575,479
SBM Offshore NV
 
39,826
592,907
SBM Offshore NV rights (a)(e)
 
39,826
32,519
Signify NV (d)
 
35,958
988,524
Sligro Food Group NV
 
6,011
91,477
TKH Group NV (bearer) (depositary receipt)
 
11,376
492,417
TomTom Group BV (a)(b)
 
21,107
126,593
Van Lanschot Kempen NV (Bearer)
 
8,579
305,336
VastNed Retail NV
 
3,479
77,783
Wereldhave NV
 
9,689
135,042
TOTAL NETHERLANDS
 
 
10,043,225
New Zealand - 0.6%
 
 
 
Air New Zealand Ltd.
 
466,666
150,031
Contact Energy Ltd.
 
216,622
1,105,943
Fletcher Building Ltd.
 
220,002
492,412
Goodman Property Trust (b)
 
289,591
388,392
Infratil Ltd.
 
231,206
1,484,515
Kiwi Property Group Ltd.
 
440,763
209,863
Ryman Healthcare Ltd. (a)
 
164,967
393,766
TOTAL NEW ZEALAND
 
 
4,224,922
Nigeria - 0.1%
 
 
 
Airtel Africa PLC (d)
 
266,183
368,863
Norway - 1.9%
 
 
 
Aker ASA (A Shares)
 
6,104
340,134
Aker Carbon Capture A/S (a)(b)
 
102,383
64,655
Aker Solutions ASA
 
70,003
265,304
Austevoll Seafood ASA
 
25,438
204,150
Avance Gas Holding Ltd. (d)
 
5,235
76,156
Belships ASA
 
25,555
57,627
BlueNord ASA (a)
 
6,667
341,497
Borregaard ASA
 
26,696
457,570
BW Offshore Ltd.
 
23,094
58,107
Crayon Group Holding A/S (a)(b)(d)
 
20,966
155,804
DNO ASA (A Shares) (b)
 
132,144
123,835
DOF Group ASA
 
42,503
314,128
Elkem ASA (b)(d)
 
80,515
141,482
Entra ASA (d)
 
20,892
192,962
Europris ASA (d)
 
44,000
278,057
FLEX LNG Ltd.
 
8,160
213,908
Frontline PLC
 
37,353
890,742
Golden Ocean Group Ltd.
 
36,433
514,427
Gram Car Carriers ASA
 
3,230
74,873
Grieg Seafood ASA (b)
 
14,196
92,012
Hexagon Composites ASA (a)
 
36,510
55,150
Hoegh Autoliners ASA
 
32,584
343,777
Kitron ASA
 
48,952
126,737
Leroy Seafood Group ASA
 
74,315
329,144
MPC Container Ships ASA
 
97,230
156,806
NEL ASA (a)(b)
 
474,238
223,959
Norconsult A/S
 
29,949
75,624
Nordic VLSI ASA (a)(b)
 
48,916
543,829
Norwegian Air Shuttle A/S (a)
 
204,570
268,960
Nykode Therapeutics A/S (a)(b)
 
41,150
49,527
Odfjell Drilling Ltd.
 
25,911
119,426
Odfjell Se (A Shares)
 
5,009
79,091
PGS ASA (a)
 
271,911
210,753
Protector Forsikring ASA
 
14,759
300,269
Schibsted ASA:
 
 
 
 (A Shares)
 
21,084
603,186
 (B Shares)
 
26,574
744,460
Seadrill Ltd. (a)
 
8,160
399,240
Sparebank 1 Oestlandet
 
9,439
113,861
Sparebank 1 Sr Bank ASA (primary capital certificate)
 
50,895
617,603
Sparebanken Midt-Norge
 
35,708
470,342
Sparebanken Nord-Norge
 
26,163
236,417
Stolt-Nielsen SA
 
6,405
273,878
Storebrand ASA (A Shares)
 
122,772
1,181,467
TGS ASA (b)
 
36,908
422,622
Tomra Systems ASA
 
66,339
822,332
Wallenius Wilhelmsen ASA
 
29,265
296,641
TOTAL NORWAY
 
 
13,922,531
Peru - 0.0%
 
 
 
Hochschild Mining PLC (a)
 
91,145
177,441
Poland - 0.1%
 
 
 
InPost SA (a)
 
55,815
901,230
Portugal - 0.3%
 
 
 
Altri SGPS SA
 
19,416
107,230
Banco Comercial Portugues SA (Reg.) (a)
 
2,333,299
818,246
Corticeira Amorim SGPS SA
 
10,957
112,022
CTT Correios de Portugal SA
 
23,335
109,823
Greenvolt-Energias Renovaveis SA (a)
 
15,493
137,233
Mota-Engil SGPS SA
 
25,059
108,897
NOS SGPS
 
49,799
172,191
REN - Redes Energeticas Nacionais SGPS SA
 
110,446
266,971
Semapa Sociedade de Investimen
 
4,506
76,460
Sonae SGPS SA
 
220,579
221,278
The Navigator Co. SA
 
58,726
260,216
TOTAL PORTUGAL
 
 
2,390,567
Singapore - 1.7%
 
 
 
AEM Holdings Ltd. (b)
 
69,200
118,432
AIMS APAC (REIT)
 
166,873
153,902
Best World International Ltd. (a)
 
36,100
64,274
BW LPG Ltd. (d)
 
25,842
374,771
Capitaland Ascott Trust unit
 
725,200
481,672
Capitaland India Trust
 
303,865
222,054
CapitaRetail China Trust
 
325,200
157,970
CDL Hospitality Trusts unit
 
223,200
158,845
ComfortDelgro Corp. Ltd.
 
606,000
659,157
Digital Core (REIT)
 
254,500
154,003
ESR-LOGOS (REIT)
 
1,952,060
414,442
Far East Hospitality Trust unit
 
271,700
122,281
Frasers Centrepoint Trust
 
281,900
446,540
Frasers Hospitality Trust unit
 
211,600
70,735
Frasers Logistics & Industrial Trust
 
842,200
610,077
Hafnia Ltd.
 
78,614
595,877
Hong Fok Corp. Ltd.
 
82,300
50,584
iFast Corp. Ltd.
 
37,000
199,100
IGG, Inc. (a)
 
210,000
87,543
Kenon Holdings Ltd.
 
5,827
131,377
Keppel (REIT)
 
673,200
432,258
Keppel DC (REIT)
 
387,300
483,090
Keppel Infrastructure Trust
 
1,160,630
402,639
Lendlease Global Commercial (REIT)
 
505,988
201,247
Mapletree Industrial (REIT)
 
594,187
983,876
Nanofilm Technologies International Ltd.
 
73,000
34,480
NetLink NBN Trust
 
806,200
504,544
Olam Group Ltd.
 
273,200
235,216
PARAGON REIT
 
324,300
199,144
Parkway Life REIT
 
112,000
293,991
Raffles Medical Group Ltd.
 
233,700
171,152
Riverstone Holdings Ltd.
 
141,400
81,039
SATS Ltd. (a)(b)
 
251,758
462,350
Sheng Siong Group Ltd.
 
206,500
234,086
SIA Engineering Co. Ltd.
 
76,600
126,492
Singapore Post Ltd.
 
410,000
134,988
Starhill Global (REIT)
 
409,731
142,397
StarHub Ltd.
 
168,300
143,898
Suntec (REIT) (b)
 
570,700
449,931
UMS Holdings Ltd.
 
147,300
144,625
UOL Group Ltd.
 
131,000
559,338
Venture Corp. Ltd.
 
77,200
817,953
Yangzijiang Financial Holding Ltd.
 
662,600
152,398
TOTAL SINGAPORE
 
 
12,664,768
South Africa - 0.0%
 
 
 
Scatec Solar AS (d)
 
33,946
249,205
Spain - 2.1%
 
 
 
Acerinox SA
 
48,048
518,921
Aedas Homes SAU (d)
 
2,412
48,238
Almirall SA
 
22,984
210,209
Applus Services SA
 
35,715
483,299
Atresmedia Corporacion de Medios de Comunicacion SA
 
24,910
125,476
Audax Renovables SA (a)
 
35,400
64,073
Banco de Sabadell SA
 
1,520,542
2,914,387
Bankinter SA
 
188,397
1,491,845
Befesa SA (d)
 
10,160
292,754
Cie Automotive SA
 
11,522
306,177
Compania de Distribucion Integral Logista Holdings SA
 
16,455
448,853
Construcciones y Auxiliar de Ferrocarriles
 
4,656
159,750
Distribuidora Internacional de Alimentacion SA (a)
 
4,035,722
55,129
eDreams ODIGEO SA (a)
 
24,341
165,731
Ence Energia y Celulosa SA (b)
 
36,620
130,843
Faes Farma SA
 
82,749
300,695
Fluidra SA
 
26,884
570,943
Gestamp Automocion SA (d)
 
47,346
142,488
Global Dominion Access SA (d)
 
23,091
86,619
Grenergy Renovables SA (a)(b)
 
3,846
112,667
Indra Sistemas SA
 
34,549
664,779
Inmobiliaria Colonial SA
 
76,034
445,883
Laboratorios Farmaceuticos ROVI SA
 
6,063
545,458
Lar Espana Real Estate Socimi SA (a)
 
14,129
102,986
Linea Directa Aseguradora SA Compania de Seguros y Reaseguros
 
162,692
175,708
MAPFRE SA (Reg.)
 
258,212
623,325
Melia Hotels International SA (a)
 
30,520
237,931
Merlin Properties Socimi SA
 
91,756
1,038,952
Neinor Homes SLU (d)
 
6,190
69,363
Pharma Mar SA
 
4,331
140,695
Prosegur Cash SA (d)
 
83,530
46,444
Prosegur Compania de Seguridad SA (Reg.)
 
41,425
73,298
Sacyr SA
 
117,922
411,266
Solaria Energia y Medio Ambiente SA (a)(b)
 
23,262
237,701
Talgo SA (d)
 
17,657
83,288
Tecnicas Reunidas SA (a)
 
13,281
131,955
Unicaja Banco SA (d)
 
337,132
441,459
Vidrala SA
 
5,872
619,767
Viscofan Envolturas Celulosicas SA
 
11,080
705,927
TOTAL SPAIN
 
 
15,425,282
Sweden - 5.5%
 
 
 
AAK AB
 
50,398
1,301,520
AcadeMedia AB (d)
 
22,910
105,191
Addlife AB
 
31,625
294,429
Addnode Group AB (B Shares)
 
35,066
364,648
AddTech AB (B Shares)
 
72,575
1,533,108
AFRY AB (B Shares)
 
26,024
414,196
Alimak Group AB (d)
 
19,355
180,195
Alleima AB
 
51,759
324,069
Alligo AB (B Shares)
 
6,246
73,453
Arjo AB
 
59,934
254,085
Atea ASA
 
22,411
287,287
Atrium Ljungberg AB (B Shares)
 
16,560
293,621
Attendo AB (d)
 
28,866
109,488
Avanza Bank Holding AB (b)
 
35,202
762,150
Axfood AB
 
30,195
781,973
Betsson AB (B Shares)
 
32,675
363,207
Bilia AB (A Shares)
 
17,275
218,673
Billerud AB
 
62,849
526,669
BioArctic AB (a)(d)
 
10,619
187,897
BioGaia AB
 
22,792
243,837
Biotage AB (A Shares)
 
18,723
285,422
BONESUPPORT Holding AB (a)(d)
 
15,662
321,187
Boozt AB (a)(d)
 
15,645
179,584
Bravida Holding AB (d)
 
57,460
391,830
Bufab AB
 
7,342
225,582
Bure Equity AB
 
15,630
494,128
Calliditas Therapeutics AB (a)(b)
 
12,147
121,245
Camurus AB (a)
 
8,600
388,781
Castellum AB (a)
 
110,169
1,332,577
Catena AB
 
9,823
434,086
Cibus Nordic Real Estate AB
 
14,299
187,684
Clas Ohlson AB (B Shares)
 
10,813
131,478
Cloetta AB
 
50,261
74,978
Coor Service Management Holding AB (d)
 
26,006
113,082
Corem Property Group AB
 
169,207
127,054
Creades AB (A Shares)
 
15,253
97,023
Dios Fastigheter AB
 
27,364
210,809
Dometic Group AB (d)
 
89,125
642,938
Electrolux AB (B Shares) (a)(b)
 
61,859
546,270
Electrolux Professional AB
 
65,620
427,527
Elekta AB (B Shares)
 
103,058
740,644
Embracer Group AB (a)(b)
 
214,005
545,674
Engcon AB (B Shares) (b)
 
11,465
94,879
Fabege AB
 
64,979
502,950
Fortnox AB
 
136,607
810,439
Granges AB
 
27,773
329,887
Hemnet Group AB
 
24,739
648,758
Hexatronic Group AB (b)
 
47,523
148,558
HEXPOL AB (B Shares)
 
73,345
838,578
HMS Networks AB
 
7,968
299,042
Hufvudstaden AB (A Shares)
 
30,731
358,887
Instalco AB
 
60,632
215,230
Intrum AB (b)
 
23,054
54,725
Investment AB Oresund
 
7,445
74,177
INVISIO AB
 
11,568
255,599
Inwido AB
 
14,423
178,907
JM AB (B Shares)
 
17,399
299,025
Kinnevik AB (B Shares) (a)
 
68,375
722,813
Lindab International AB
 
21,074
426,819
Loomis AB (B Shares)
 
20,044
516,542
Medicover AB Class B
 
18,140
288,057
Meko AB
 
10,745
109,786
MIPS AB
 
7,569
258,381
Modern Times Group MTG AB (B Shares) (a)
 
24,300
209,365
Munters Group AB (d)
 
36,185
732,211
Mycronic AB
 
21,845
768,710
NCAB Group AB (b)
 
50,469
332,250
NCC AB (B Shares)
 
23,077
282,903
New Wave Group AB (B Shares)
 
24,398
225,596
Nolato AB (B Shares)
 
53,307
263,623
Nordnet AB (b)
 
38,810
701,513
Norion Bank AB (a)
 
14,115
52,513
Note AB (a)
 
4,775
61,007
NP3 Fastigheter AB
 
8,333
175,425
Nyfosa AB
 
40,526
355,785
OX2 AB (a)
 
41,199
149,986
Pandox AB
 
26,121
408,629
Paradox Interactive AB
 
10,157
155,207
Peab AB
 
48,225
297,785
Platzer Fastigheter Holding AB
 
16,263
132,962
Ratos AB (B Shares)
 
59,316
207,760
Rusta AB
 
14,627
100,474
RVRC Holding AB
 
14,276
81,482
Samhallsbyggnadsbolaget I Norden AB (B Shares)
 
307,640
112,360
Scandic Hotels Group AB (a)(b)(d)
 
39,679
209,369
Sdiptech AB (a)
 
8,122
209,160
Sectra AB (B Shares)
 
38,041
756,650
Sinch AB (a)(d)
 
189,724
439,345
SkiStar AB
 
11,350
158,606
SSAB AB:
 
 
 
 (A Shares)
 
63,116
357,721
 (B Shares) (b)
 
181,752
1,027,472
Stillfront Group AB (a)
 
130,086
125,124
Storskogen Group AB (b)
 
379,179
206,924
Surgical Science Sweden AB (a)(b)
 
10,532
150,138
Svolder AB (B Shares)
 
24,266
136,519
Sweco AB (B Shares)
 
60,350
650,573
Swedencare AB
 
17,482
89,786
Synsam Holding AB
 
20,655
96,149
Thule Group AB (d)
 
29,554
842,071
Trelleborg AB (B Shares)
 
63,178
2,254,146
Troax Group AB
 
11,085
224,307
Truecaller AB (B Shares)
 
64,017
207,147
Vimian Group AB (a)(b)
 
49,484
136,054
Vitec Software Group AB
 
8,792
423,229
Vitrolife AB
 
21,069
317,935
Wallenstam AB (B Shares)
 
99,677
446,088
Wihlborgs Fastigheter AB
 
77,305
652,369
Xvivo Perfusion AB (a)
 
7,027
241,664
Yubico AB (a)
 
9,485
167,660
TOTAL SWEDEN
 
 
40,405,070
Switzerland - 4.1%
 
 
 
Accelleron Industries Ltd.
 
26,287
1,025,458
Allreal Holding AG
 
4,099
662,618
ALSO Holding AG
 
1,807
446,221
Arbonia AG (b)
 
14,306
188,931
Aryzta AG (a)
 
278,514
528,699
Autoneum Holding AG (b)
 
1,056
169,328
Basilea Pharmaceutica AG (a)
 
3,455
148,461
Belimo Holding AG (Reg.)
 
2,752
1,277,132
Bell Food Group AG
 
598
173,366
Bossard Holding AG
 
1,599
365,287
Bucher Industries AG
 
1,831
707,104
Burckhardt Compression Holding AG
 
857
546,317
Burkhalter Holding AG
 
1,903
208,673
Bystronic AG
 
380
169,279
Cembra Money Bank AG
 
8,377
641,546
COLTENE Holding AG
 
745
41,657
Comet Holding AG
 
2,063
657,557
Daetwyler Holdings AG (b)
 
2,131
442,775
DKSH Holding AG
 
9,996
651,358
DocMorris AG (a)(b)
 
3,296
294,193
Dorma Kaba Holding AG
 
886
472,758
Dottikon ES Holding AG (a)
 
772
201,556
EFG International
 
25,800
299,749
Emmi AG
 
600
584,172
Flughafen Zuerich AG
 
5,542
1,110,510
Forbo Holding AG (Reg.)
 
267
309,043
Galenica AG (d)
 
13,881
1,060,800
Georg Fischer AG (Reg.)
 
22,925
1,608,553
Gurit-Heberlein AG (Bearer)
 
714
45,826
Huber+Suhner AG
 
4,850
387,789
Implenia AG
 
4,036
148,181
INFICON Holding AG
 
478
668,706
Interroll Holding AG
 
191
617,101
Intershop Holding AG
 
1,445
193,977
IWG PLC
 
211,781
491,949
Kardex Holding AG
 
1,740
461,855
Komax Holding AG (Reg.)
 
1,068
184,496
Landis+Gyr Group AG
 
6,090
451,823
LEM Holding SA
 
130
221,463
Leonteq AG
 
2,570
67,518
Medacta Group SA (d)
 
1,914
231,950
Medmix AG (d)
 
6,715
110,304
Meier Tobler Group AG
 
1,231
41,245
Metall Zug AG
 
52
71,841
Meyer Burger Technology AG (a)
 
5,887,569
73,655
Mobilezone Holding AG
 
11,296
162,451
Mobimo Holding AG
 
1,992
556,915
OC Oerlikon Corp. AG (Reg.)
 
53,915
234,135
Orior AG
 
1,827
130,578
PSP Swiss Property AG
 
12,707
1,574,465
Rieter Holding AG (Reg.)
 
717
100,618
Schweiter Technologies AG
 
280
125,798
Sensirion Holding AG (a)(b)(d)
 
2,695
177,956
SFS Group AG
 
4,894
582,435
Siegfried Holding AG
 
1,127
1,081,332
SKAN Group AG
 
3,094
275,321
St.Galler Kantonalbank AG
 
828
426,498
Stadler Rail AG (b)
 
15,451
458,866
Sulzer AG (Reg.)
 
5,266
639,310
Swissquote Group Holding SA
 
3,211
873,266
Tecan Group AG
 
3,576
1,272,072
TX Group AG
 
725
112,782
u-blox Holding AG
 
1,899
175,801
V-ZUG Holding AG (a)
 
531
33,041
Valiant Holding AG
 
4,332
506,127
Vetropack Holding AG
 
3,657
123,723
Vontobel Holdings AG
 
7,996
450,577
Ypsomed Holding AG
 
1,150
411,586
Zehnder Group AG
 
2,571
150,470
TOTAL SWITZERLAND
 
 
30,098,903
Tanzania - 0.0%
 
 
 
Helios Towers PLC (a)
 
204,379
252,317
Ukraine - 0.0%
 
 
 
Ferrexpo PLC (a)
 
83,676
53,220
United Arab Emirates - 0.1%
 
 
 
Network International Holdings PLC (a)(d)
 
131,901
648,060
United Kingdom - 13.7%
 
 
 
4Imprint Group PLC
 
7,876
618,043
888 Holdings PLC (a)
 
97,444
103,253
A.G. Barr PLC
 
27,805
198,387
AB Dynamics PLC
 
4,814
108,878
Advanced Medical Solutions Group PLC
 
60,333
142,787
AJ Bell PLC
 
87,824
355,010
Alfa Financial Software Holdings PLC (d)
 
32,487
69,984
Allfunds Group PLC
 
95,567
605,815
Alpha Financial Markets Consulting PLC
 
32,234
134,931
Alpha FX Group PLC
 
9,542
255,157
Alphawave IP Group PLC (a)(b)
 
89,503
142,706
AO World PLC (a)
 
87,753
116,231
Ascential PLC (a)
 
122,402
478,420
Ashmore Group PLC
 
131,094
316,806
Ashtead Technology Holdings PLC
 
21,999
224,584
ASOS PLC (a)(b)
 
13,155
54,968
Assura PLC
 
841,312
433,330
Aston Martin Lagonda Global Holdings PLC (a)(d)
 
61,423
113,745
Auction Technology Group PLC (a)(b)
 
26,728
166,656
B&M European Value Retail SA
 
280,184
1,817,039
Babcock International Group PLC
 
71,169
451,316
Balfour Beatty PLC
 
151,466
688,544
Beazley PLC
 
187,925
1,556,868
Bellway PLC
 
33,433
1,056,938
Big Yellow Group PLC
 
52,142
703,664
Bodycote PLC
 
53,678
466,830
Boohoo.Com PLC (a)(b)
 
174,740
72,971
Breedon Group PLC
 
74,645
337,647
Bridgepoint Group PLC (d)
 
68,739
197,897
British Land Co. PLC
 
245,873
1,192,055
Britvic PLC
 
65,166
720,232
Bytes Technology Group PLC
 
64,250
391,944
Capita Group PLC (a)(b)
 
477,045
80,115
Central Asia Metals PLC
 
47,811
125,757
Ceres Power Holdings PLC (a)(b)
 
33,732
75,406
Chemring Group PLC
 
75,257
352,640
Clarkson PLC
 
8,071
391,807
Close Brothers Group PLC
 
41,807
237,901
CLS Holdings PLC (b)
 
44,052
45,688
Coats Group PLC
 
449,584
457,849
Computacenter PLC
 
23,932
772,127
ConvaTec Group PLC (d)
 
457,462
1,429,054
Craneware PLC
 
8,349
222,212
Cranswick PLC
 
14,822
798,248
Crest Nicholson Holdings PLC
 
67,805
157,505
Currys PLC (a)
 
266,324
205,828
Custodian (REIT) PLC
 
123,256
114,279
CVS Group PLC
 
20,620
252,246
Darktrace PLC (a)
 
98,200
739,180
Deliveroo PLC Class A (a)(d)
 
257,436
430,407
Derwent London PLC
 
26,790
688,255
Diploma PLC
 
37,441
1,697,338
Direct Line Insurance Group PLC
 
367,281
852,703
Discoverie Group PLC
 
26,490
233,359
Domino's Pizza UK & IRL PLC
 
100,212
407,966
Dowlais Group PLC
 
393,157
401,367
Dr. Martens Ltd.
 
167,174
158,758
Drax Group PLC
 
107,862
698,155
DS Smith PLC
 
384,639
1,684,112
Dunelm Group PLC
 
34,197
433,718
easyJet PLC
 
85,467
575,199
Elementis PLC
 
166,675
293,659
Empiric Student Property PLC
 
166,644
188,448
Essentra PLC
 
79,508
175,451
FD Technologies PLC (a)
 
6,489
103,624
FDM Group Holdings PLC
 
25,607
110,550
Fever-Tree Drinks PLC
 
29,617
419,300
Firstgroup PLC
 
183,872
372,666
Forterra PLC (d)
 
56,264
115,722
Frasers Group PLC (a)
 
31,384
320,198
Future PLC
 
29,737
246,357
Games Workshop Group PLC
 
9,191
1,138,125
Gamma Communications PLC
 
25,968
424,424
GB Group PLC
 
69,622
250,375
Genuit Group PLC
 
70,203
382,907
Genus PLC
 
18,629
419,933
Grafton Group PLC unit
 
54,360
642,983
Grainger Trust PLC
 
196,972
631,314
Great Portland Estates PLC
 
57,668
282,471
Greatland Gold PLC (a)(b)
 
1,238,181
93,604
Greggs PLC
 
28,517
970,654
Halfords Group PLC
 
59,536
112,334
Hammerson PLC
 
1,129,547
384,472
Harbour Energy PLC
 
172,361
622,215
Hays PLC
 
444,265
510,998
Hill & Smith Holdings PLC
 
22,063
521,051
Hilton Food Group PLC
 
21,154
242,126
Hiscox Ltd.
 
96,879
1,488,978
Hollywood Bowl Group PLC
 
47,326
201,950
Home (REIT) PLC (a)(c)
 
235,236
111,844
Howden Joinery Group PLC
 
153,249
1,677,472
Hunting PLC
 
42,872
191,783
Ibstock PLC (d)
 
108,379
200,700
IG Group Holdings PLC
 
107,095
1,000,978
IMI PLC
 
72,663
1,590,747
Impact Healthcare REIT PLC
 
92,807
97,296
Impax Asset Management Group PLC
 
27,603
153,659
Inchcape PLC
 
103,954
1,039,166
Indivior PLC (a)
 
32,417
584,106
IntegraFin Holdings PLC
 
77,497
290,509
Intermediate Capital Group PLC
 
81,114
2,128,476
International Distributions Services PLC (a)
 
201,439
681,122
Investec PLC
 
179,981
1,150,339
IP Group PLC
 
285,119
170,832
ITM Power PLC (a)(b)
 
126,112
80,289
ITV PLC
 
1,020,343
896,304
J.D. Wetherspoon PLC (a)
 
24,052
217,743
Jet2 PLC
 
48,024
861,720
John Wood Group PLC (a)
 
196,437
364,259
Johnson Matthey PLC
 
51,164
1,122,646
Johnson Service Group PLC
 
113,997
184,609
Judges Scientific PLC
 
1,703
238,334
Jupiter Fund Management PLC
 
120,190
116,392
Just Eat Takeaway.com NV (a)(d)
 
52,501
777,123
Just Group PLC
 
287,383
372,027
Kainos Group PLC
 
24,981
306,219
Keller Group PLC
 
20,575
283,833
Kier Group PLC
 
116,767
195,806
Lancashire Holdings Ltd.
 
68,525
522,315
Learning Technologies Group PLC
 
165,389
151,483
Liontrust Asset Management PLC
 
18,826
158,787
Londonmetric Properity PLC
 
567,910
1,395,136
Man Group PLC
 
335,168
1,078,852
Marks & Spencer Group PLC
 
551,226
1,761,911
Marlowe PLC (a)
 
22,426
137,310
Marshalls PLC
 
65,117
218,877
ME Group International PLC
 
57,120
114,056
Mitchells & Butlers PLC (a)
 
73,573
222,019
Mitie Group PLC
 
357,800
523,094
Mobico Group PLC
 
135,431
93,752
Molten Ventures PLC (a)(b)
 
46,006
160,676
Moneysupermarket.com Group PLC
 
140,456
378,042
Moonpig Group PLC (a)
 
84,296
164,107
Morgan Advanced Materials PLC
 
78,835
309,316
Morgan Sindall PLC
 
12,417
351,430
NCC Group Ltd.
 
81,760
138,533
Next Fifteen Communications Group PLC
 
23,270
260,821
Ninety One PLC
 
76,820
161,936
OSB Group PLC
 
110,364
566,239
Oxford Instruments PLC
 
15,511
438,028
Oxford Nanopore Technologies Ltd. (a)
 
153,769
188,972
Pagegroup PLC
 
92,051
513,230
Pan African Resources PLC
 
527,517
159,516
Paragon Banking Group PLC
 
57,912
517,764
Pennon Group PLC
 
80,293
667,697
Pets At Home Group PLC
 
126,589
462,200
Picton Property Income Ltd.
 
148,706
123,196
Playtech Ltd. (a)
 
68,157
451,378
Polar Capital Holdings PLC
 
23,644
159,835
Premier Foods PLC
 
178,881
361,657
Primary Health Properties PLC
 
367,714
421,570
PZ Cussons PLC Class L
 
65,727
83,772
QinetiQ Group PLC
 
145,627
625,243
Quilter PLC (d)
 
395,383
542,468
Rank Group PLC (a)
 
57,344
60,190
Rathbone Brothers PLC
 
17,848
365,306
Redde Northgate PLC
 
62,861
302,017
Redrow PLC
 
74,032
594,818
Renew Holdings PLC
 
21,718
256,452
Renewi PLC (a)
 
19,855
139,679
Renishaw PLC
 
10,192
528,520
Rightmove PLC
 
223,885
1,440,741
Rotork PLC
 
239,211
966,662
RS GROUP PLC
 
132,987
1,224,702
RWS Holdings PLC
 
81,996
176,843
Safestore Holdings PLC
 
61,373
593,187
Savills PLC
 
38,485
520,322
Serco Group PLC
 
303,592
694,975
Serica Energy PLC
 
70,221
163,205
Shaftesbury Capital PLC
 
408,950
688,322
SIG PLC (a)(b)
 
199,903
65,320
Softcat PLC
 
36,253
710,756
Spectris PLC
 
28,243
1,175,192
Spire Healthcare Group PLC (d)
 
77,798
239,629
Spirent Communications PLC
 
162,385
395,062
SSP Group PLC
 
223,428
549,714
SThree PLC
 
37,024
197,313
Subsea 7 SA
 
63,417
1,028,739
Supermarket Income (REIT) PLC
 
341,186
307,810
Target Healthcare (REIT) PLC
 
173,195
168,372
Tate & Lyle PLC
 
111,818
920,769
Team17 Group PLC (a)
 
32,563
105,792
Telecom Plus PLC
 
20,635
447,618
The PRS REIT PLC
 
143,710
142,042
The Weir Group PLC
 
72,310
1,852,277
THG PLC (a)(b)
 
170,218
135,062
TORM PLC
 
11,292
390,031
TP ICAP Group PLC
 
216,079
560,253
Trainline PLC (a)(d)
 
126,016
469,870
Travis Perkins PLC
 
59,627
561,037
Tritax Big Box REIT PLC
 
531,858
1,007,508
Trustpilot Group PLC (a)(d)
 
84,132
199,952
Tyman PLC
 
54,641
257,403
UK Commercial Property REIT Ltd.
 
214,470
180,358
Unite Group PLC
 
103,111
1,195,657
Urban Logistics REIT PLC
 
130,441
188,745
Vanquis Banking Group PLC (b)
 
69,454
41,571
Vesuvius PLC
 
59,312
356,114
Victoria PLC (a)(b)
 
16,453
40,090
Victrex PLC
 
24,441
386,640
Virgin Money UK PLC
 
328,896
878,658
Vistry Group PLC
 
91,543
1,370,363
Volex PLC
 
34,905
140,006
Volution Group PLC
 
54,729
297,824
Warehouse (REIT) PLC
 
110,513
110,749
Watches of Switzerland Group PLC (a)(d)
 
68,205
288,744
WH Smith PLC
 
36,633
502,149
Wickes Group PLC
 
68,737
125,056
Workspace Group PLC
 
39,671
246,615
Yellow Cake PLC (a)(d)
 
60,950
490,471
YouGov PLC
 
29,702
322,893
Young & Co.'s Brewery PLC Class A
 
9,084
111,693
TOTAL UNITED KINGDOM
 
 
100,229,113
United States of America - 0.6%
 
 
 
Burford Capital Ltd.
 
52,083
806,996
Carnival PLC (a)
 
38,415
515,088
Diversified Gas & Oil PLC
 
13,337
187,651
Fiverr International Ltd. (a)(b)
 
8,950
183,565
InMode Ltd. (a)
 
22,305
383,423
JS Global Lifestyle Co. Ltd. (d)
 
376,000
72,506
Pagaya Technologies Ltd. Class A (a)(b)
 
9,920
96,522
PolyPeptide Group AG (a)(d)
 
4,334
142,856
REC Silicon ASA (a)(b)
 
74,306
72,711
Reliance Worldwide Corp. Ltd.
 
221,096
725,712
RHI Magnesita NV
 
5,176
234,130
Riskified Ltd. (a)(b)
 
25,234
129,955
Sims Ltd.
 
44,945
344,471
Taro Pharmaceutical Industries Ltd. (a)
 
2,580
109,598
Vobile Group Ltd. (a)(b)
 
396,000
69,301
TOTAL UNITED STATES OF AMERICA
 
 
4,074,485
 
TOTAL COMMON STOCKS
 (Cost $831,418,730)
 
 
 
716,608,940
 
 
 
 
Nonconvertible Preferred Stocks - 0.3%
 
 
Shares
Value ($)
 
Germany - 0.3%
 
 
 
Draegerwerk AG & Co. KGaA (non-vtg.)
 
2,377
126,076
Einhell Germany AG
 
451
77,587
Fuchs Petrolub AG
 
19,320
903,494
Jungheinrich AG
 
13,414
499,322
Sixt SE Preference Shares
 
4,540
314,931
Sto SE & Co. KGaA
 
697
119,907
TOTAL GERMANY
 
 
2,041,317
Italy - 0.0%
 
 
 
Danieli & C. Officine Meccaniche SpA
 
10,777
277,754
 
TOTAL NONCONVERTIBLE PREFERRED STOCKS
 (Cost $2,335,829)
 
 
 
2,319,071
 
 
 
 
Government Obligations - 0.1%
 
 
Principal
Amount (f)
 
Value ($)
 
United States of America - 0.1%
 
 
 
U.S. Treasury Bills, yield at date of purchase 5.3% 5/23/24 (g)
  (Cost $498,400)
 
500,000
498,387
 
 
 
 
Money Market Funds - 4.3%
 
 
Shares
Value ($)
 
Fidelity Cash Central Fund 5.39% (h)
 
4,874,252
4,875,227
Fidelity Securities Lending Cash Central Fund 5.39% (h)(i)
 
26,270,008
26,272,635
 
TOTAL MONEY MARKET FUNDS
 (Cost $31,147,862)
 
 
31,147,862
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 102.6%
 (Cost $865,400,821)
 
 
 
750,574,260
NET OTHER ASSETS (LIABILITIES) - (2.6)%  
(18,900,346)
NET ASSETS - 100.0%
731,673,914
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Value ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
Purchased
 
 
 
 
 
 
 
 
 
 
 
Equity Index Contracts
 
 
 
 
 
ICE E-mini MSCI EAFE Index Contracts (United States)
106
Jun 2024
12,017,750
(248,879)
(248,879)
 
 
 
 
 
 
The notional amount of futures purchased as a percentage of Net Assets is 1.6%
 
 
Legend
 
(a)
Non-income producing
 
(b)
Security or a portion of the security is on loan at period end.
 
(c)
Level 3 security
 
(d)
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 $26,979,202 or 3.7% of net assets.
 
(e)
Security or a portion of the security purchased on a delayed delivery or when-issued basis.
 
(f)
Amount is stated in United States dollars unless otherwise noted.
 
(g)
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 $393,725.
 
(h)
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.
 
(i)
Investment made with cash collateral received from securities on loan.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
 
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
% ownership,
end
of period
Fidelity Cash Central Fund 5.39%
5,969,273
30,390,258
31,484,293
150,283
(11)
-
4,875,227
0.0%
Fidelity Securities Lending Cash Central Fund 5.39%
16,588,393
39,024,353
29,340,111
265,179
-
-
26,272,635
0.1%
Total
22,557,666
69,414,611
60,824,404
415,462
(11)
-
31,147,862
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds, which are presented in the corresponding line item in the Statement of Operations, if applicable.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium payments received for lending certain types of securities.
 
Amounts included in the purchases and sales proceeds columns may include in-kind transactions, if applicable.
Investment Valuation
 
The following is a summary of the inputs used, as of April 30, 2024, involving the Fund's assets and liabilities carried at fair value. The inputs or methodology used for valuing securities may not be an indication of the risk associated with investing in those securities. For more information on valuation inputs, and their aggregation into the levels used below, please refer to the Investment Valuation section in the accompanying Notes to Financial Statements.
 
Valuation Inputs at Reporting Date:
Description
Total ($)
Level 1 ($)
Level 2 ($)
Level 3 ($)
 Investments in Securities:
 
 
 
 
 Equities:
 
 
 
 
Communication Services
28,843,050
19,624,053
9,218,997
-
Consumer Discretionary
91,609,767
38,371,675
53,238,092
-
Consumer Staples
45,431,189
18,848,258
26,582,931
-
Energy
22,890,700
15,706,975
7,183,725
-
Financials
90,704,138
60,037,444
30,666,694
-
Health Care
41,858,477
24,075,545
17,782,932
-
Industrials
168,005,912
91,444,904
76,561,008
-
Information Technology
68,010,143
34,035,694
33,974,449
-
Materials
71,384,770
25,753,559
45,107,395
523,816
Real Estate
72,035,572
35,474,747
36,448,981
111,844
Utilities
18,154,293
10,240,203
7,914,090
-
 Government Obligations
498,387
-
498,387
-
  Money Market Funds
31,147,862
31,147,862
-
-
 Total Investments in Securities:
750,574,260
404,760,919
345,177,681
635,660
 Derivative Instruments:
 Liabilities
 
 
 
 
Futures Contracts
(248,879)
(248,879)
-
-
  Total Liabilities
(248,879)
(248,879)
-
-
 Total Derivative Instruments:
(248,879)
(248,879)
-
-
 
Value of Derivative Instruments
 
The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of April 30, 2024. For additional information on derivative instruments, please refer to the Derivative Instruments section in the accompanying Notes to Financial Statements.
 
Primary Risk Exposure / Derivative Type                                                                                                                                                                                   
 
Value
Asset ($)
Liability ($)
Equity Risk
 
 
Futures Contracts (a) 
0
(248,879)
Total Equity Risk
0
(248,879)
Total Value of Derivatives
0
(248,879)
 
(a)Reflects gross cumulative appreciation (depreciation) on futures contracts as presented in the Schedule of Investments. In the Statement of Assets and Liabilities, the period end daily variation margin is included in receivable or payable for daily variation margin on futures contracts, and the net cumulative appreciation (depreciation) is included in Total accumulated earnings (loss).
 
 
 
Statement of Assets and Liabilities
 
 
 
April 30, 2024
(Unaudited)
 
 
 
 
 
Assets
 
 
 
 
Investment in securities, at value  (including  securities loaned of $24,512,712) - See accompanying schedule:
 
 
 
 
Unaffiliated issuers (cost $834,252,959)
$
719,426,398
 
 
Fidelity Central Funds (cost $31,147,862)
31,147,862
 
 
 
 
 
 
 
 
 
 
 
 
Total Investment in Securities (cost $865,400,821)
 
 
$
750,574,260
Foreign currency held at value (cost $1,190,285)
 
 
1,184,668
Receivable for investments sold
 
 
1,342,205
Receivable for fund shares sold
 
 
155,967
Dividends receivable
 
 
3,820,657
Reclaims receivable
 
 
1,502,691
Interest receivable
 
 
192
Distributions receivable from Fidelity Central Funds
 
 
84,792
Prepaid expenses
 
 
235
Receivable from investment adviser for expense reductions
 
 
19,450
Other receivables
 
 
744
  Total assets
 
 
758,685,861
Liabilities
 
 
 
 
Payable for investments purchased
 
 
 
 
Regular delivery
$
133,397
 
 
Delayed delivery
106,480
 
 
Payable for fund shares redeemed
189,683
 
 
Accrued management fee
61,367
 
 
Payable for daily variation margin on futures contracts
165,861
 
 
Other payables and accrued expenses
82,524
 
 
Collateral on securities loaned
26,272,635
 
 
  Total liabilities
 
 
 
27,011,947
Net Assets  
 
 
$
731,673,914
Net Assets consist of:
 
 
 
 
Paid in capital
 
 
$
930,321,446
Total accumulated earnings (loss)
 
 
 
(198,647,532)
Net Assets
 
 
$
731,673,914
Net Asset Value, offering price and redemption price per share ($731,673,914 ÷ 89,560,193 shares)
 
 
$
8.17
Statement of Operations
 
 
 
Six months ended
April 30, 2024
(Unaudited)
Investment Income
 
 
 
 
Dividends
 
 
$
10,829,543
Interest  
 
 
9,222
Income from Fidelity Central Funds (including $265,179 from security lending)
 
 
415,462
 Income before foreign taxes withheld
 
 
$
11,254,227
Less foreign taxes withheld
 
 
(893,069)
 Total income
 
 
 
10,361,158
Expenses
 
 
 
 
Management fee
$
355,314
 
 
Custodian fees and expenses
49,020
 
 
Independent trustees' fees and expenses
1,741
 
 
Registration fees
6,536
 
 
Audit
29,999
 
 
Legal
1,780
 
 
Miscellaneous
1,346
 
 
 Total expenses before reductions
 
445,736
 
 
 Expense reductions
 
(88,747)
 
 
 Total expenses after reductions
 
 
 
356,989
Net Investment income (loss)
 
 
 
10,004,169
Realized and Unrealized Gain (Loss)
 
 
 
 
Net realized gain (loss) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
(16,006,507)
 
 
   Fidelity Central Funds
 
(11)
 
 
 Foreign currency transactions
 
71,727
 
 
 Futures contracts
 
1,016,075
 
 
Total net realized gain (loss)
 
 
 
(14,918,716)
Change in net unrealized appreciation (depreciation) on:
 
 
 
 
 Investment Securities:
 
 
 
 
   Unaffiliated issuers  
 
105,967,228
 
 
 Assets and liabilities in foreign currencies
 
(56,446)
 
 
 Futures contracts
 
219,985
 
 
Total change in net unrealized appreciation (depreciation)
 
 
 
106,130,767
Net gain (loss)
 
 
 
91,212,051
Net increase (decrease) in net assets resulting from operations
 
 
$
101,216,220
Statement of Changes in Net Assets
 
 
Six months ended
April 30, 2024
(Unaudited)
 
Year ended
October 31, 2023
Increase (Decrease) in Net Assets
 
 
 
 
Operations
 
 
 
Net investment income (loss)
$
10,004,169
$
20,491,767
Net realized gain (loss)
 
(14,918,716)
 
 
(47,950,090)
 
Change in net unrealized appreciation (depreciation)
 
106,130,767
 
80,554,713
 
Net increase (decrease) in net assets resulting from operations
 
101,216,220
 
 
53,096,390
 
Distributions to shareholders
 
(22,109,584)
 
 
(19,865,640)
 
 
 
 
 
 
Share transactions
 
 
 
 
Proceeds from sales of shares
 
33,111,036
 
19,585,828
  Reinvestment of distributions
 
22,063,414
 
 
19,858,109
 
Cost of shares redeemed
 
(21,437,268)
 
(118,024,796)
 
 
 
 
 
  Net increase (decrease) in net assets resulting from share transactions
 
33,737,182
 
 
(78,580,859)
 
Total increase (decrease) in net assets
 
112,843,818
 
 
(45,350,109)
 
 
 
 
 
 
Net Assets
 
 
 
 
Beginning of period
 
618,830,096
 
664,180,205
 
End of period
$
731,673,914
$
618,830,096
 
 
 
 
 
Other Information
 
 
 
 
Shares
 
 
 
 
Sold
 
4,077,996
 
2,520,341
  Issued in reinvestment of distributions
 
2,754,484
 
 
2,669,101
 
Redeemed
 
(2,632,744)
 
(15,225,197)
Net increase (decrease)
 
4,199,736
 
(10,035,755)
 
 
 
 
 
 
Financial Highlights
 
Fidelity® SAI International Small Cap Index Fund
 
 
Six months ended
(Unaudited) April 30, 2024 
 
Years ended October 31, 2023 
 
2022  
 
2021 A
  Selected Per-Share Data 
 
 
 
 
 
 
 
 
  Net asset value, beginning of period
$
7.25
$
6.96
$
10.12
$
10.00
  Income from Investment Operations
 
 
 
 
 
 
 
 
     Net investment income (loss) B,C
 
.11
 
.23
 
.24
 
.09
     Net realized and unrealized gain (loss)
 
1.07
 
.29
 
(3.27)
 
.03
  Total from investment operations
 
1.18  
 
.52  
 
(3.03)  
 
.12  
  Distributions from net investment income
 
(.26)
 
(.23)
 
(.13)
 
-
     Total distributions
 
(.26)
 
(.23)
 
(.13)
 
-
  Net asset value, end of period
$
8.17
$
7.25
$
6.96
$
10.12
 Total Return D,E
 
16.32
%
 
 
7.34%
 
(30.31)%
 
1.20%
 Ratios to Average Net Assets C,F,G
 
 
 
 
 
 
 
 
    Expenses before reductions
 
.13% H
 
.14%
 
.14%
 
.19% H,I
    Expenses net of fee waivers, if any
 
.10
% H
 
 
.10%
 
.10%
 
.10% H
    Expenses net of all reductions
 
.10% H
 
.10%
 
.10%
 
.10% H
    Net investment income (loss)
 
2.82% H
 
3.00%
 
2.85%
 
2.00% H
 Supplemental Data
 
 
 
 
 
 
 
 
    Net assets, end of period (000 omitted)
$
731,674
$
618,830
$
664,180
$
873,419
    Portfolio turnover rate J
 
12
% H
 
 
13%
 
20%
 
1% K
 
AFor the period May 27, 2021 (commencement of operations) through October 31, 2021.
 
BCalculated based on average shares outstanding during the period.
 
CNet investment income (loss) is affected by the timing of the declaration of dividends by any underlying mutual funds or exchange-traded funds (ETFs). Net investment income (loss) of any mutual funds or ETFs is not included in the Fund's net investment income (loss) ratio.
 
DTotal returns for periods of less than one year are not annualized.
 
ETotal returns would have been lower if certain expenses had not been reduced during the applicable periods shown.
 
FFees and expenses of any underlying mutual funds or exchange-traded funds (ETFs) are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of these expenses. For additional expense information related to investments in Fidelity Central Funds, please refer to the "Investments in Fidelity Central Funds" note found in the Notes to Financial Statements section of the most recent Annual or Semi-Annual report.
 
GExpense ratios reflect operating expenses of the class. Expenses before reductions do not reflect amounts reimbursed, waived, or reduced through arrangements with the investment adviser, brokerage services, or other offset arrangements, if applicable, and do not represent the amount paid by the class during periods when reimbursements, waivers or reductions occur.
 
HAnnualized.
 
IAudit fees are not annualized.
 
JAmount does not include the portfolio activity of any underlying mutual funds or exchange-traded funds (ETFs).
 
KAmount not annualized.
 
For the period ended April 30, 2024
 
1. Organization.
Fidelity SAI International Small Cap Index Fund (the Fund) is a fund of Fidelity Concord Street Trust (the Trust) and is authorized to issue an unlimited number of shares. Shares are offered exclusively to certain clients of Fidelity Management & Research Company LLC (FMR) or its affiliates. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company organized as a Massachusetts business trust.
2. Investments in Fidelity Central Funds.
Funds may invest in Fidelity Central Funds, which are open-end investment companies generally available only to other investment companies and accounts managed by the investment adviser and its affiliates. The Schedule of Investments lists any Fidelity Central Funds held as an investment as of period end, but does not include the underlying holdings of each Fidelity Central Fund. An investing fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.
 
Based on its investment objective, each Fidelity Central Fund may invest or participate in various investment vehicles or strategies that are similar to those of the investing fund. These strategies are consistent with the investment objectives of the investing fund and may involve certain economic risks which may cause a decline in value of each of the Fidelity Central Funds and thus a decline in the value of the investing fund.
 
Fidelity Central Fund
Investment Manager
Investment Objective
Investment Practices
Expense RatioA
Fidelity Money Market Central Funds
Fidelity Management & Research Company LLC (FMR)
Each fund seeks to obtain a high level of current income consistent with the preservation of capital and liquidity.
Short-term Investments
Less than .005%
 
A Expenses expressed as a percentage of average net assets and are as of each underlying Central Fund's most recent annual or semi-annual shareholder report.
 
A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds which contain the significant accounting policies (including investment valuation policies) of those funds, and are not covered by the Report of Independent Registered Public Accounting Firm, are available on the Securities and Exchange Commission website or upon request.
3. Significant Accounting Policies.
The Fund is an investment company and applies the accounting and reporting guidance of the Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic 946 Financial Services - Investment Companies. The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP), which require management to make certain estimates and assumptions at the date of the financial statements. Actual results could differ from those estimates. Subsequent events, if any, through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The Fund's Schedule of Investments lists any underlying mutual funds or exchange-traded funds (ETFs) but does not include the underlying holdings of these funds. The following summarizes the significant accounting policies of the Fund:
 
Investment Valuation. Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters. 
 
The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - unadjusted 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)
 
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 service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. government and government agency obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy. Investments in open-end mutual funds, including the Fidelity Central Funds, are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. The aggregate value of investments by input level as of April 30, 2024 is included at the end of the Fund's Schedule of Investments.
 
Foreign Currency. Certain Funds may use foreign currency contracts to facilitate transactions in foreign-denominated securities. Gains and losses from these transactions may arise from changes in the value of the foreign currency or if the counterparties do not perform under the contracts' terms.
 
Foreign-denominated assets, including investment securities, and liabilities are translated into U.S. dollars at the exchange rates at period end. Purchases and sales of investment securities, income and dividends received, and expenses denominated in foreign currencies are translated into U.S. dollars at the exchange rate in effect on the transaction date.
 
The effects of exchange rate fluctuations on investments are included with the net realized and unrealized gain (loss) on investment securities. Other foreign currency transactions resulting in realized and unrealized gain (loss) are disclosed separately.
 
Investment Transactions and Income. For financial reporting purposes, the Fund's investment holdings and NAV include trades executed through the end of the last business day of the period. The NAV per share for processing shareholder transactions is calculated as of the close of business of the New York Stock Exchange (NYSE), normally 4:00 p.m. Eastern time and includes trades executed through the end of the prior business day. Gains and losses on securities sold are determined on the basis of identified cost. Commissions paid to certain brokers with whom the investment adviser, or its affiliates, places trades on behalf of a fund include an amount in addition to trade execution, which may be rebated back to a fund. Any such rebates are included in net realized gain (loss) on investments in the Statement of Operations. Dividend income is recorded on the ex-dividend date, except for certain dividends from foreign securities where the ex-dividend date may have passed, which are recorded as soon as the Fund is informed of the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Income and capital gain distributions from Fidelity Central Funds, if any, are recorded on the ex-dividend date. Certain distributions received by the Fund represent a return of capital or capital gain. The Fund determines the components of these distributions subsequent to the ex-dividend date, based upon receipt of tax filings or other correspondence relating to the underlying investment. These distributions are recorded as a reduction of cost of investments and/or as a realized gain. Interest income is accrued as earned and includes coupon interest and amortization of premium and accretion of discount on debt securities as applicable. Investment income is recorded net of foreign taxes withheld where recovery of such taxes is uncertain. Funds may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. Any withholding tax reclaims income is included in the Statement of Operations in foreign taxes withheld. Any receivables for withholding tax reclaims are included in the Statement of Assets and Liabilities in reclaims receivable.
 
Expenses. Expenses directly attributable to a fund are charged to that fund. Expenses attributable to more than one fund are allocated among the respective funds on the basis of relative net assets or other appropriate methods. Expenses included in the accompanying financial statements reflect the expenses of that fund and do not include any expenses associated with any underlying mutual funds or exchange-traded funds. Although not included in a fund's expenses, a fund indirectly bears its proportionate share of these expenses through the net asset value of each underlying mutual fund or exchange-traded fund. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
 
Income Tax Information and Distributions to Shareholders. Each year, the Fund intends to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code, including distributing substantially all of its taxable income and realized gains. As a result, no provision for U.S. Federal income taxes is required. The Fund files a U.S. federal tax return, in addition to state and local tax returns as required. The Fund's federal income tax returns are subject to examination by the Internal Revenue Service (IRS) for a period of three fiscal years after they are filed. State and local tax returns may be subject to examination for an additional fiscal year depending on the jurisdiction. Foreign taxes are provided for based on the Fund's understanding of the tax rules and rates that exist in the foreign markets in which it invests.
 
Distributions are declared and recorded on the ex-dividend date. Income and capital gain distributions are determined in accordance with income tax regulations, which may differ from GAAP.
 
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Capital accounts are not adjusted for temporary book-tax differences which will reverse in a subsequent period.
 
Book-tax differences are primarily due to futures contracts, foreign currency transactions, passive foreign investment companies (PFIC), partnerships, capital loss carryforwards and losses deferred due to wash sales.
 
As of period end, the cost and unrealized appreciation (depreciation) in securities, and derivatives if applicable, for federal income tax purposes were as follows:
 
Gross unrealized appreciation
$77,482,010
Gross unrealized depreciation
(198,175,433)
Net unrealized appreciation (depreciation)
$(120,693,423)
Tax cost
$871,018,804
 
Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of prior fiscal period end and is subject to adjustment.
 
Short-term
$(36,311,555)
Long-term
(34,136,713)
Total capital loss carryforward
$(70,448,268)
 
Delayed Delivery Transactions and When-Issued Securities. During the period, certain Funds transacted in securities on a delayed delivery or when-issued basis. Payment and delivery may take place after the customary settlement period for that security. The price of the underlying securities and the date when the securities will be delivered and paid for are fixed at the time the transaction is negotiated. Securities purchased on a delayed delivery or when-issued basis are identified as such in the Schedule of Investments. Compensation for interest forgone in the purchase of a delayed delivery or when-issued debt security may be received. With respect to purchase commitments, each applicable Fund identifies securities as segregated in its records with a value at least equal to the amount of the commitment. Payables and receivables associated with the purchases and sales of delayed delivery securities having the same coupon, settlement date and broker are offset. Delayed delivery or when-issued securities that have been purchased from and sold to different brokers are reflected as both payables and receivables in the Statement of Assets and Liabilities under the caption "Delayed delivery", as applicable. Losses may arise due to changes in the value of the underlying securities or if the counterparty does not perform under the contract's terms, or if the issuer does not issue the securities due to political, economic, or other factors.
 
Restricted Securities (including Private Placements). Funds 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 held at period end is included at the end of the Schedule of Investments, if applicable.
4. Derivative Instruments.
Risk Exposures and the Use of Derivative Instruments. The Fund's investment objectives allow for various types of derivative instruments, including futures contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
Derivatives were used to increase returns and to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the objectives may not be achieved.
 
Derivatives were used to increase or decrease exposure to the following risk(s):
 
 
 
Equity Risk
Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
 
Funds are also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that a fund will be unable to close out the derivative in the open market in a timely manner. Counterparty credit risk is the risk that the counterparty will not be able to fulfill its obligation to a fund. Counterparty credit risk related to exchange-traded contracts may be mitigated by the protection provided by the exchange on which they trade.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received and amounts recognized in the Statement of Assets and Liabilities. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.
 
Futures Contracts. A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a fixed price at a specified future date. Futures contracts were used to manage exposure to the stock market.
 
Upon entering into a futures contract, a fund is required to deposit either cash or securities (initial margin) with a clearing broker in an amount equal to a certain percentage of the face value of the contract. Futures contracts are marked-to-market daily and subsequent daily payments are made or received by a fund depending on the daily fluctuations in the value of the futures contracts and are recorded as unrealized appreciation or (depreciation). This receivable and/or payable, if any, is included in daily variation margin on futures contracts in the Statement of Assets and Liabilities. Realized gain or (loss) is recorded upon the expiration or closing of a futures contract. The net realized gain (loss) and change in net unrealized appreciation (depreciation) on futures contracts during the period is presented in the Statement of Operations.
 
Any open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The notional amount at value reflects each contract's exposure to the underlying instrument or index at period end, and is representative of volume of activity during the period unless an average notional amount is presented. Any securities deposited to meet initial margin requirements are identified in the Schedule of Investments. Any cash deposited to meet initial margin requirements is presented as segregated cash with brokers for derivative instruments in the Statement of Assets and Liabilities.
5. Purchases and Sales of Investments.
Purchases and sales of securities, other than short-term securities, U.S. government securities and in-kind transactions, as applicable, are noted in the table below.
 
 
Purchases ($)
Sales ($)
Fidelity SAI International Small Cap Index Fund
68,949,647
42,747,372
6. Fees and Other Transactions with Affiliates.
Management Fee. Fidelity Management & Research Company LLC (the investment adviser) and its affiliates provide the Fund with investment management related services for which the Fund pays a monthly management fee that is based on an annual rate of .10% of the Fund's average net assets.
 
Sub-Adviser. Geode Capital Management, LLC (Geode), serves as sub-adviser for the Fund. Geode provides discretionary investment advisory services to the Fund and is paid by the investment adviser for providing these services.
 
Interfund Trades. Funds may purchase from or sell securities to other Fidelity Funds under procedures adopted by the Board. The procedures have been designed to ensure these interfund trades are executed in accordance with Rule 17a-7 of the 1940 Act. Any interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note. During the period, there were no interfund trades.
 
7. Committed Line of Credit.
Certain Funds participate with other funds managed by the investment adviser or an affiliate in a $4.25 billion credit facility (the "line of credit") to be utilized for temporary or emergency purposes to fund shareholder redemptions or for other short-term liquidity purposes. The participating funds have agreed to pay commitment fees on their pro-rata portion of the line of credit, which are reflected in Miscellaneous expenses on the Statement of Operations, and are listed below. During the period, there were no borrowings on this line of credit.
 
 
Amount ($)
Fidelity SAI International Small Cap Index Fund
641
8. Security Lending.
Funds lend portfolio securities from time to time in order to earn additional income. Lending agents are used, including National Financial Services (NFS), an affiliate of the investment adviser. Pursuant to a securities lending agreement, NFS will receive a fee, which is capped at 9.9% of a fund's daily lending revenue, for its services as lending agent. A fund may lend securities to certain qualified borrowers, including NFS. On the settlement date of the loan, a fund receives collateral (in the form of U.S. Treasury obligations, letters of credit and/or cash) against the loaned securities and maintains collateral in an amount not less than 100% of the market value of the loaned securities during the period of the loan. The market value of the loaned securities is determined at the close of business of a fund and any additional required collateral is delivered to a fund on the next business day. A fund or borrower may terminate the loan at any time, and if the borrower defaults on its obligation to return the securities loaned because of insolvency or other reasons, a fund may apply collateral received from the borrower against the obligation. A fund may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. Any loaned securities are identified as such in the Schedule of Investments, and the value of loaned securities and cash collateral at period end, as applicable, are presented in the Statement of Assets and Liabilities. Security lending income 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. Security lending income is presented in the Statement of Operations as a component of income from Fidelity Central Funds. Affiliated security lending activity, if any, was as follows:
 
 
Total Security Lending Fees Paid to NFS ($)
Security Lending Income From Securities Loaned to NFS ($)
Value of Securities Loaned to NFS at Period End ($)
Fidelity SAI International Small Cap Index Fund
27,961
 414
153,502
9. Expense Reductions.
The investment adviser contractually agreed to reimburse the Fund to the extent annual operating expenses exceeded .10% of average net assets. This reimbursement will remain in place through February 28, 2025. Some expenses, for example the compensation of the independent Trustees, and certain miscellaneous expenses such as proxy and shareholder meeting expenses, are excluded from this reimbursement. During the period this reimbursement reduced the Fund's expenses by $88,747.
10. Other.
A fund's organizational documents provide former and current trustees and officers with a limited indemnification against liabilities arising in connection with the performance of their duties to the fund. In the normal course of business, a fund may also enter into contracts that provide general indemnifications. A fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against a fund. The risk of material loss from such claims is considered remote.
 
At the end of the period, the following mutual funds managed by the investment adviser or its affiliates were the owners of record of 10% or more of the total outstanding shares.
 
 
Strategic Advisers Fidelity International Fund
Strategic Advisers International Fund
Fidelity SAI International Small Cap Index Fund
68%
13%
 
Mutual funds managed by the investment adviser or its affiliates, in aggregate, were the owners of record of more than 20% of the total outstanding shares.
 
Fund
% of shares held
Fidelity SAI International Small Cap Index Fund
81%
 
11. Risk and Uncertainties.
Many factors affect a fund's performance. Developments that disrupt global economies and financial markets, such as pandemics, epidemics, outbreaks of infectious diseases, war, terrorism, and environmental disasters, may significantly affect a fund's investment performance. The effects of these developments to a fund will be impacted by the types of securities in which a fund invests, the financial condition, industry, economic sector, and geographic location of an issuer, and a fund's level of investment in the securities of that issuer. Significant concentrations in security types, issuers, industries, sectors, and geographic locations may magnify the factors that affect a fund's performance.
As a shareholder, you incur two types of costs: (1) transaction costs, which may include sales charges (loads) on purchase payments or redemption proceeds, as applicable and (2) ongoing costs, which generally include management fees, distribution and/or service (12b-1) fees and other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in a fund and to compare these costs with the ongoing costs of investing in other mutual funds.
 
The Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (November 1, 2023 to April 30, 2024).
 
Actual Expenses
The first line of the accompanying table 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 $1,000.00 (for example, an $8,600 account value divided by $1,000.00 = 8.6), then multiply the result by the number in the first line for a class/Fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. If any fund is a shareholder of any underlying mutual funds or exchange-traded funds (ETFs) (the Underlying Funds), such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses incurred presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
 
Hypothetical Example for Comparison Purposes
The second line of the accompanying table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the 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 the 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. If any fund is a shareholder of any Underlying Funds, such fund indirectly bears its proportional share of the expenses of the Underlying Funds in addition to the direct expenses as presented in the table. These fees and expenses are not included in the annualized expense ratio used to calculate the expense estimate in the table below.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transaction costs. Therefore, the second line of the table is useful in comparing ongoing 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.
 
 
 
 
 
Annualized Expense Ratio- A
 
Beginning Account Value November 1, 2023
 
Ending Account Value April 30, 2024
 
Expenses Paid During Period- C November 1, 2023 to April 30, 2024
 
 
 
 
 
 
 
 
 
 
Fidelity® SAI International Small Cap Index Fund
 
 
 
.10%
 
 
 
 
 
 
Actual
 
 
 
 
 
$ 1,000
 
$ 1,163.20
 
$ .54
Hypothetical-B
 
 
 
 
 
$ 1,000
 
$ 1,024.37
 
$ .50
 
A   Annualized expense ratio reflects expenses net of applicable fee waivers.
 
B   5% return per year before expenses
 
C   Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 182/ 366 (to reflect the one-half year period). The fees and expenses of any Underlying Funds are not included in each annualized expense ratio.
 
 
The Securities and Exchange Commission adopted Rule 22e-4 under the Investment Company Act of 1940 (the Liquidity Rule) to promote effective liquidity risk management throughout the open-end investment company industry, thereby reducing the risk that funds will be unable to meet their redemption obligations and mitigating dilution of the interests of fund shareholders.
The Fund has adopted and implemented a liquidity risk management program (the Program) reasonably designed to assess and manage the Fund's liquidity risk and to comply with the requirements of the Liquidity Rule. The Fund's Board of Trustees (the Board) has designated the Fund's investment adviser as administrator of the Program. The Fidelity advisers have established a Liquidity Risk Management Committee (the LRM Committee) to manage the Program for each of the Fidelity Funds. The LRM Committee monitors the adequacy and effectiveness of implementation of the Program and on a periodic basis assesses each Fund's liquidity risk based on a variety of factors including (1) the Fund's investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, (4) borrowings and other funding sources and (5) certain factors specific to ETFs including the effect of the Fund's prices and spreads, market participants, and basket compositions on the overall liquidity of the Fund's portfolio, as applicable.
In accordance with the Program, each of the Fund's portfolio investments is classified into one of four defined liquidity categories based on a determination of a reasonable expectation for how long it would take to convert the investment to cash (or sell or dispose of the investment) without significantly changing its market value.
  • Highly liquid investments - cash or convertible to cash within three business days or less
  • Moderately liquid investments - convertible to cash in three to seven calendar days
  • Less liquid investments - can be sold or disposed of, but not settled, within seven calendar days
  • Illiquid investments - cannot be sold or disposed of within seven calendar days
Liquidity classification determinations take into account a variety of factors including various market, trading and investment-specific considerations, as well as market depth, and generally utilize analysis from a third-party liquidity metrics service.
The Liquidity Rule places a 15% limit on a fund's illiquid investments and requires funds that do not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund's net assets to be invested in highly liquid investments (highly liquid investment minimum or HLIM).  The Program includes provisions reasonably designed to comply with the 15% limit on illiquid investments and for determining, periodically reviewing and complying with the HLIM requirement as applicable.
At a recent meeting of the Fund's Board of Trustees, the LRM Committee provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of the Program for the period December 1, 2022 through November 30, 2023.  The report concluded that the Program is operating effectively and is reasonably designed to assess and manage the Fund's liquidity risk.  
 
1.9903807.102
SCI-SANN-0624

Item 2.

Code of Ethics


Not applicable.

 

Item 3.

Audit Committee Financial Expert


Not applicable.


Item 4.

Principal Accountant Fees and Services


Not applicable.


Item 5.

Audit Committee of Listed Registrants


Not applicable.


Item 6.  

Investments


(a)

Not applicable.


(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.  

Purchase 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 were no material changes to the procedures by which shareholders may recommend nominees to the Fidelity Concord Street Trusts Board of Trustees.


Item 11.

Controls and Procedures


(a)(i)  The President and Treasurer and the Chief Financial Officer have concluded that the Fidelity Concord Street Trusts (the Trust) disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable



assurances that material information relating to the Trust is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.


(a)(ii)  There was no change in the Trusts internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Trusts internal control over financial reporting.


Item 12.

Disclosure of Securities Lending Activities for Closed-End Management

Investment Companies


Not applicable.


Item 18.

Recovery of Erroneously Awarded Compensation


(a)

Not applicable.


(b)

Not applicable.


Item 19.

Exhibits


(a)

(1)

Not applicable.

(a)

(2)

Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.

(a)

(3)

Not applicable.

(b)


Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.




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.


Fidelity Concord Street Trust



By:

/s/Stacie M. Smith


Stacie M. Smith


President and Treasurer (Principal Executive Officer)



Date:

June 21, 2024


Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.



By:

/s/Stacie M. Smith


Stacie M. Smith


President and Treasurer (Principal Executive Officer)



Date:

June 21, 2024



By:

/s/John J. Burke III


John J. Burke III


Chief Financial Officer (Principal Financial Officer)



Date:

June 21, 2024