N-CSR 1 filing788.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   811-5251  


Fidelity Concord Street Trust

 (Exact name of registrant as specified in charter)


245 Summer St., Boston, Massachusetts  02210

 (Address of principal executive offices)       (Zip code)


William C. Coffey, 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:

October 31, 2018


Item 1.

Reports to Stockholders






Fidelity® Series International Index Fund



Annual Report

October 31, 2018



Fidelity Investments


Contents

Investment Summary

Schedule of Investments

Financial Statements

Notes to Financial Statements

Report of Independent Registered Public Accounting Firm

Trustees and Officers

Shareholder Expense Example

Board Approval of Investment Advisory Contracts and Management Fees


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.

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. © 2018 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-Q. Forms N-Q are available on the SEC’s web site at http://www.sec.gov. A fund's Forms N-Q 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.



Investment Summary (Unaudited)

Top Ten Stocks as of October 31, 2018

 % of fund's net assets 
Nestle SA (Reg. S) (Switzerland, Food Products) 1.9 
Novartis AG (Switzerland, Pharmaceuticals) 1.4 
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals) 1.3 
HSBC Holdings PLC (United Kingdom) (United Kingdom, Banks) 1.2 
Royal Dutch Shell PLC Class A (United Kingdom) (United Kingdom, Oil, Gas & Consumable Fuels) 1.1 
BP PLC (United Kingdom, Oil, Gas & Consumable Fuels) 1.1 
Total SA (France, Oil, Gas & Consumable Fuels) 1.0 
Toyota Motor Corp. (Japan, Automobiles) 1.0 
Royal Dutch Shell PLC Class B (United Kingdom) (United Kingdom, Oil, Gas & Consumable Fuels) 0.9 
SAP SE (Germany, Software) 0.8 
 11.7 

Top Market Sectors as of October 31, 2018

 % of fund's net assets 
Financials 19.1 
Industrials 13.5 
Consumer Staples 11.5 
Health Care 11.0 
Consumer Discretionary 9.9 
Materials 7.6 
Energy 6.1 
Information Technology 5.9 
Communication Services 5.0 
Real Estate 3.1 

Geographic Diversification (% of fund's net assets)

As of October 31, 2018 
   Japan 23.7% 
   United Kingdom 15.7% 
   France 9.8% 
   Germany 8.8% 
   Switzerland 8.4% 
   Australia 6.5% 
   Netherlands 4.3% 
   United States of America* 3.4% 
   Spain 2.9% 
   Other 16.5% 


 * Includes Short-Term investments and Net Other Assets (Liabilities).

Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

Asset Allocation as of October 31, 2018

 % of fund's net assets 
Stocks and Equity Futures 99.4 
Short-Term Investments and Net Other Assets (Liabilities) 0.6 

Schedule of Investments October 31, 2018

Showing Percentage of Net Assets

Common Stocks - 96.0%   
 Shares Value 
Australia - 6.5%   
AGL Energy Ltd. 434 $5,532 
Alumina Ltd. 1,620 2,925 
Amcor Ltd. 766 7,214 
AMP Ltd. 1,931 3,378 
APA Group unit 781 5,309 
Aristocrat Leisure Ltd. 380 7,131 
ASX Ltd. 169 7,081 
Aurizon Holdings Ltd. 1,317 3,917 
Australia & New Zealand Banking Group Ltd. 2,063 37,881 
Bank of Queensland Ltd. 263 1,797 
Bendigo & Adelaide Bank Ltd. 322 2,333 
BHP Billiton Ltd. 2,281 52,631 
BlueScope Steel Ltd. 364 3,704 
Boral Ltd. 776 3,083 
Brambles Ltd. 1,053 7,919 
Caltex Australia Ltd. 173 3,462 
Challenger Ltd. 364 2,645 
Cimic Group Ltd. 64 2,143 
Coca-Cola Amatil Ltd. 335 2,351 
Cochlear Ltd. 38 4,779 
Commonwealth Bank of Australia 1,246 61,085 
Computershare Ltd. 305 4,270 
Crown Ltd. 251 2,224 
CSL Ltd. 321 42,735 
DEXUS Property Group unit 673 4,861 
Dominos Pizza Enterprises Ltd. 40 1,530 
Flight Centre Travel Group Ltd. 37 1,216 
Fortescue Metals Group Ltd. 1,030 2,918 
Goodman Group unit 1,288 9,468 
Harvey Norman Holdings Ltd. 369 834 
Healthscope Ltd. 1,151 1,720 
Incitec Pivot Ltd. 1,099 3,035 
Insurance Australia Group Ltd. 1,529 7,395 
Lendlease Group unit 382 4,761 
Macquarie Group Ltd. 236 19,587 
Medibank Private Ltd. 1,823 3,602 
Mirvac Group unit 2,456 3,774 
National Australia Bank Ltd. 1,951 34,941 
Newcrest Mining Ltd. 508 7,414 
Orica Ltd. 250 3,038 
Origin Energy Ltd. (a) 1,164 6,009 
QBE Insurance Group Ltd. 897 7,191 
Ramsay Health Care Ltd. 94 3,742 
realestate.com.au Ltd. 35 1,775 
Rio Tinto Ltd. 303 16,393 
Santos Ltd. 1,172 5,511 
Scentre Group unit 4,055 11,429 
SEEK Ltd. 221 2,795 
Sonic Healthcare Ltd. 267 4,264 
South32 Ltd. 3,394 8,701 
SP AusNet 1,196 1,448 
Stockland Corp. Ltd. unit 1,611 4,118 
Suncorp Group Ltd. 999 9,911 
Sydney Airport unit 731 3,334 
Tabcorp Holdings Ltd. 1,266 4,142 
Telstra Corp. Ltd. 2,755 6,009 
The GPT Group unit 1,194 4,363 
TPG Telecom Ltd. 246 1,249 
Transurban Group unit 1,730 13,893 
Treasury Wine Estates Ltd. 476 5,097 
Vicinity Centres unit 2,178 4,087 
Wesfarmers Ltd. 822 27,137 
Westpac Banking Corp. 2,429 46,141 
Woodside Petroleum Ltd. 693 17,103 
Woolworths Group Ltd. 980 19,730 
TOTAL AUSTRALIA  623,195 
Austria - 0.2%   
Andritz AG 48 2,488 
Erste Group Bank AG 199 8,114 
OMV AG 97 5,398 
Raiffeisen International Bank-Holding AG 98 2,675 
Voestalpine AG 76 2,702 
TOTAL AUSTRIA  21,377 
Bailiwick of Jersey - 1.2%   
Experian PLC 668 15,363 
Ferguson PLC 173 11,682 
Glencore Xstrata PLC 8,174 33,313 
Randgold Resources Ltd. 62 4,877 
Shire PLC 646 38,987 
WPP PLC 899 10,173 
TOTAL BAILIWICK OF JERSEY  114,395 
Belgium - 0.9%   
Ageas 121 6,059 
Anheuser-Busch InBev SA NV 538 39,791 
Colruyt NV 40 2,325 
Groupe Bruxelles Lambert SA 53 4,933 
KBC Groep NV 187 12,899 
Proximus 101 2,580 
Solvay SA Class A 49 5,586 
Telenet Group Holding NV 35 1,700 
UCB SA 84 7,058 
Umicore SA 139 6,548 
TOTAL BELGIUM  89,479 
Bermuda - 0.3%   
Cheung Kong Infrastructure Holdings Ltd. 500 3,653 
Dairy Farm International Holdings Ltd. 200 1,806 
Hongkong Land Holdings Ltd. 800 4,736 
Jardine Matheson Holdings Ltd. 200 11,542 
Jardine Strategic Holdings Ltd. 100 3,350 
Kerry Properties Ltd. 500 1,572 
Li & Fung Ltd. 4,000 791 
NWS Holdings Ltd. 1,000 1,979 
Shangri-La Asia Ltd. 2,000 2,729 
Yue Yuen Industrial (Holdings) Ltd. 500 1,368 
TOTAL BERMUDA  33,526 
Cayman Islands - 0.6%   
ASM Pacific Technology Ltd. 200 1,727 
Cheung Kong Property Holdings Ltd. 2,000 12,981 
CK Hutchison Holdings Ltd. 2,000 20,135 
Melco Crown Entertainment Ltd. sponsored ADR 164 2,727 
MGM China Holdings Ltd. 800 1,130 
Sands China Ltd. 1,600 6,305 
WH Group Ltd. (b) 6,000 4,200 
Wharf Real Estate Investment Co. Ltd. 1,000 6,191 
Wynn Macau Ltd. 1,200 2,476 
TOTAL CAYMAN ISLANDS  57,872 
Denmark - 1.6%   
A.P. Moller - Maersk A/S:   
Series A 3 3,571 
Series B 5 6,311 
Carlsberg A/S Series B 84 9,266 
Christian Hansen Holding A/S 65 6,570 
Coloplast A/S Series B 79 7,376 
Danske Bank A/S 515 9,879 
DONG Energy A/S (b) 125 7,942 
DSV de Sammensluttede Vognmaend A/S 138 11,095 
Genmab A/S (a) 41 5,617 
H Lundbeck A/S 46 2,148 
ISS Holdings A/S 111 3,650 
Novo Nordisk A/S Series B 1,283 55,408 
Novozymes A/S Series B 174 8,598 
Pandora A/S 73 4,567 
Tryg A/S 80 1,934 
Vestas Wind Systems A/S 129 8,090 
William Demant Holding A/S (a) 67 2,205 
TOTAL DENMARK  154,227 
Finland - 1.2%   
Elisa Corp. (A Shares) 94 3,742 
Fortum Corp. 294 6,192 
Kone Oyj (B Shares) 244 11,889 
Metso Corp. 105 3,319 
Neste Oyj 85 7,005 
Nokia Corp. 4,013 22,668 
Nokian Tyres PLC 102 3,244 
Nordea Bank ABP (a) 2,190 19,047 
Orion Oyj (B Shares) 69 2,376 
Sampo Oyj (A Shares) 322 14,829 
Stora Enso Oyj (R Shares) 365 5,501 
UPM-Kymmene Corp. 392 12,614 
Wartsila Corp. 352 6,002 
TOTAL FINLAND  118,428 
France - 9.8%   
Accor SA 124 5,677 
Aeroports de Paris 20 4,189 
Air Liquide SA 308 37,328 
Alstom SA 97 4,246 
Amundi SA (b) 40 2,382 
Arkema SA 46 4,834 
Atos Origin SA 63 5,407 
AXA SA 1,368 34,237 
BIC SA 17 1,629 
bioMerieux SA 27 2,061 
BNP Paribas SA 795 41,538 
Bollore SA 579 2,454 
Bouygues SA 145 5,295 
Bureau Veritas SA 176 3,977 
Capgemini SA 117 14,312 
Carrefour SA 385 7,479 
Casino Guichard Perrachon SA 37 1,634 
CNP Assurances 155 3,459 
Compagnie de St. Gobain 368 13,863 
Credit Agricole SA 840 10,758 
Danone SA 440 31,158 
Dassault Aviation SA 2 3,319 
Dassault Systemes SA 94 11,802 
Edenred SA 156 5,925 
EDF SA 387 6,435 
Eiffage SA 53 5,188 
ENGIE 1,315 17,538 
Essilor International SA 153 20,925 
Eurazeo SA 31 2,266 
Eutelsat Communications 116 2,353 
Faurecia SA 50 2,430 
Fonciere des Regions 25 2,513 
Gecina SA 30 4,407 
Groupe Eurotunnel SA 309 3,890 
Hermes International SCA 23 13,156 
ICADE 22 1,866 
Iliad SA 18 2,085 
Imerys SA 24 1,482 
Ingenico SA 39 2,767 
Ipsen SA 25 3,472 
JCDecaux SA 49 1,613 
Kering SA 54 24,074 
Klepierre SA 135 4,587 
L'Oreal SA 178 40,101 
Legrand SA 203 13,276 
LVMH Moet Hennessy - Louis Vuitton SA 196 59,467 
Michelin CGDE Series B 125 12,797 
Natixis SA 623 3,645 
Orange SA 1,436 22,414 
Pernod Ricard SA 155 23,666 
Peugeot Citroen SA 426 10,147 
Publicis Groupe SA 138 8,009 
Remy Cointreau SA 15 1,782 
Renault SA 141 10,552 
Rexel SA 201 2,566 
Safran SA 237 30,627 
Sanofi SA 796 71,131 
Schneider Electric SA 391 28,274 
SCOR SE 108 4,991 
SEB SA 15 2,153 
Societe Generale Series A 550 20,162 
Sodexo SA 60 6,124 
SR Teleperformance SA 38 6,267 
Suez Environnement SA 247 3,577 
Thales SA 70 8,959 
Total SA 1,711 100,394 
Ubisoft Entertainment SA (a) 52 4,682 
Valeo SA 181 5,838 
Veolia Environnement SA 354 7,065 
VINCI SA 365 32,485 
Vivendi SA 745 17,968 
Wendel SA 18 2,336 
TOTAL FRANCE  943,465 
Germany - 8.2%   
adidas AG 133 31,334 
Allianz SE 311 64,788 
Axel Springer Verlag AG 32 2,128 
BASF AG 652 50,034 
Bayer AG 658 50,437 
Bayerische Motoren Werke AG (BMW) 225 19,427 
Beiersdorf AG 67 6,936 
Brenntag AG 99 5,177 
Commerzbank AG (a) 772 7,292 
Continental AG 80 13,225 
Covestro AG (b) 140 9,058 
Daimler AG (Germany) 653 38,727 
Delivery Hero AG (a)(b) 61 2,462 
Deutsche Bank AG 1,397 13,689 
Deutsche Borse AG 138 17,439 
Deutsche Lufthansa AG 156 3,138 
Deutsche Post AG 702 22,166 
Deutsche Telekom AG 2,375 38,954 
Deutsche Wohnen AG (Bearer) 260 11,909 
Drillisch AG 35 1,564 
E.ON AG 1,593 15,404 
Evonik Industries AG 108 3,352 
Fraport AG Frankfurt Airport Services Worldwide 28 2,166 
Fresenius Medical Care AG & Co. KGaA 158 12,406 
Fresenius SE & Co. KGaA 298 18,940 
GEA Group AG 115 3,499 
Hannover Reuck SE 45 6,070 
HeidelbergCement Finance AG 114 7,747 
Henkel AG & Co. KGaA 69 6,768 
Hochtief AG 13 1,929 
Hugo Boss AG 42 3,006 
Infineon Technologies AG 818 16,390 
innogy SE (b) 92 4,064 
K&S AG 127 2,369 
KION Group AG 47 2,752 
Lanxess AG 58 3,597 
MAN SE 19 1,980 
Merck KGaA 100 10,717 
Metro Wholesale & Food Specialist AG 119 1,793 
MTU Aero Engines Holdings AG 34 7,232 
Muenchener Rueckversicherungs AG 108 23,236 
OSRAM Licht AG 66 2,678 
ProSiebenSat.1 Media AG 154 3,556 
Puma AG 6 3,085 
RWE AG 343 6,690 
SAP SE 693 74,202 
Schaeffler AG 110 1,163 
Siemens AG 540 62,071 
Siemens Healthineers AG (b) 99 4,103 
Symrise AG 82 6,888 
Telefonica Deutschland Holding AG 492 1,914 
Thyssenkrupp AG 288 6,059 
TUI AG (GB) 292 4,848 
Uniper SE 133 3,843 
United Internet AG 81 3,356 
Volkswagen AG 23 3,798 
Vonovia SE 350 16,024 
Wirecard AG 83 15,549 
Zalando SE (a) 74 2,867 
TOTAL GERMANY  787,995 
Hong Kong - 2.3%   
AIA Group Ltd. 8,400 63,573 
Bank of East Asia Ltd. 814 2,637 
BOC Hong Kong (Holdings) Ltd. 2,500 9,341 
CLP Holdings Ltd. 1,000 11,209 
Galaxy Entertainment Group Ltd. 2,000 10,814 
Hang Lung Group Ltd. 1,000 2,459 
Hang Lung Properties Ltd. 1,000 1,811 
Hang Seng Bank Ltd. 500 11,706 
Henderson Land Development Co. Ltd. 1,000 4,654 
Hong Kong & China Gas Co. Ltd. 7,000 13,371 
Hong Kong Exchanges and Clearing Ltd. 800 21,219 
Hysan Development Co. Ltd. 1,000 4,686 
Link (REIT) 1,500 13,294 
MTR Corp. Ltd. 1,006 4,875 
New World Development Co. Ltd. 4,000 5,070 
PCCW Ltd. 3,000 1,645 
Power Assets Holdings Ltd. 1,000 6,676 
Sino Land Ltd. 2,000 3,137 
SJM Holdings Ltd. 1,000 807 
Sun Hung Kai Properties Ltd. 1,000 12,996 
Swire Pacific Ltd. (A Shares) 500 5,187 
Swire Properties Ltd. 800 2,729 
Techtronic Industries Co. Ltd. 1,000 4,680 
Wharf Holdings Ltd. 1,000 2,494 
Wheelock and Co. Ltd. 1,000 5,337 
TOTAL HONG KONG  226,407 
Ireland - 0.6%   
AIB Group PLC 539 2,608 
Bank Ireland Group PLC 643 4,563 
CRH PLC 609 18,165 
DCC PLC (United Kingdom) 59 5,064 
James Hardie Industries PLC CDI 292 3,885 
Kerry Group PLC Class A 117 11,993 
Paddy Power Betfair PLC (Ireland) 56 4,833 
Ryanair Holdings PLC sponsored ADR (a) 15 1,242 
Smurfit Kappa Group PLC 149 4,857 
TOTAL IRELAND  57,210 
Isle of Man - 0.1%   
Gaming VC Holdings SA 363 4,348 
Genting Singapore Ltd. 4,000 2,541 
TOTAL ISLE OF MAN  6,889 
Israel - 0.5%   
Azrieli Group 28 1,359 
Bank Hapoalim BM (Reg.) 707 4,790 
Bank Leumi le-Israel BM 958 5,980 
Bezeq The Israel Telecommunication Corp. Ltd. 1,373 1,579 
Check Point Software Technologies Ltd. (a) 94 10,434 
Elbit Systems Ltd. (Israel) 16 1,914 
Israel Chemicals Ltd. 466 2,688 
Mizrahi Tefahot Bank Ltd. 93 1,567 
NICE Systems Ltd. (a) 41 4,347 
Teva Pharmaceutical Industries Ltd. sponsored ADR 689 13,766 
TOTAL ISRAEL  48,424 
Italy - 1.8%   
Assicurazioni Generali SpA 880 14,233 
Atlantia SpA 373 7,503 
Davide Campari-Milano SpA 384 2,955 
Enel SpA 5,897 28,913 
Eni SpA 1,849 32,838 
Intesa Sanpaolo SpA 10,625 23,535 
Leonardo SpA 268 2,911 
Luxottica Group SpA 112 7,043 
Mediobanca SpA 411 3,609 
Moncler SpA 118 4,103 
Pirelli & C. S.p.A. (b) 265 1,949 
Poste Italiane SpA (b) 346 2,489 
Prysmian SpA 159 3,090 
Recordati SpA 69 2,338 
Snam Rete Gas SpA 1,862 7,706 
Telecom Italia SpA (a) 8,166 4,803 
Terna SpA 931 4,814 
UniCredit SpA 1,434 18,380 
TOTAL ITALY  173,212 
Japan - 23.7%   
ACOM Co. Ltd. 300 1,109 
AEON Co. Ltd. 400 9,181 
AEON Financial Service Co. Ltd. 100 1,964 
AEON MALL Co. Ltd. 100 1,851 
Agc, Inc. 100 3,275 
Air Water, Inc. 100 1,623 
Aisin Seiki Co. Ltd. 100 3,931 
Ajinomoto Co., Inc. 300 4,847 
Alfresa Holdings Corp. 100 2,672 
All Nippon Airways Ltd. 100 3,363 
Alps Electric Co. Ltd. 100 2,357 
Amada Holdings Co. Ltd. 200 1,884 
Aozora Bank Ltd. 100 3,451 
Asahi Group Holdings 300 13,184 
Asahi Kasei Corp. 900 10,799 
Asics Corp. 100 1,453 
Astellas Pharma, Inc. 1,300 20,085 
Bandai Namco Holdings, Inc. 100 3,558 
Benesse Holdings, Inc. 100 2,787 
Bridgestone Corp. 400 15,424 
Brother Industries Ltd. 200 3,671 
Calbee, Inc. 100 3,323 
Canon, Inc. 700 19,938 
Casio Computer Co. Ltd. 100 1,509 
Central Japan Railway Co. 100 19,191 
Chiba Bank Ltd. 400 2,531 
Chubu Electric Power Co., Inc. 400 5,768 
Chugai Pharmaceutical Co. Ltd. 200 11,709 
Chugoku Electric Power Co., Inc. 200 2,574 
Coca-Cola West Co. Ltd. 100 2,619 
Concordia Financial Group Ltd. 700 3,204 
Credit Saison Co. Ltd. 100 1,588 
CyberAgent, Inc. 100 4,255 
CYBERDYNE, Inc. (a) 100 707 
Dai Nippon Printing Co. Ltd. 200 4,488 
Dai-ichi Mutual Life Insurance Co. 800 15,012 
Daicel Chemical Industries Ltd. 200 2,118 
Daifuku Co. Ltd. 100 4,307 
Daiichi Sankyo Kabushiki Kaisha 400 15,289 
Daikin Industries Ltd. 200 23,182 
Dainippon Sumitomo Pharma Co. Ltd. 100 2,089 
Daito Trust Construction Co. Ltd. 100 13,205 
Daiwa House Industry Co. Ltd. 400 12,078 
Daiwa House REIT Investment Corp. 1 2,189 
Daiwa Securities Group, Inc. 1,100 6,308 
DeNA Co. Ltd. 100 1,663 
DENSO Corp. 300 13,382 
Dentsu, Inc. 200 9,276 
Don Quijote Holdings Co. Ltd. 100 5,991 
East Japan Railway Co. 200 17,468 
Eisai Co. Ltd. 200 16,656 
Electric Power Development Co. Ltd. 100 2,725 
FamilyMart Co. Ltd. 100 11,591 
Fanuc Corp. 100 17,397 
Fujifilm Holdings Corp. 300 12,975 
Fujitsu Ltd. 100 6,084 
Fukuoka Financial Group, Inc. 200 4,914 
Hakuhodo DY Holdings, Inc. 200 3,343 
Hamamatsu Photonics K.K. 100 3,350 
Hankyu Hanshin Holdings, Inc. 200 6,594 
Hino Motors Ltd. 200 1,914 
Hitachi Chemical Co. Ltd. 100 1,578 
Hitachi Construction Machinery Co. Ltd. 100 2,655 
Hitachi High-Technologies Corp. 100 3,771 
Hitachi Ltd. 600 18,342 
Hitachi Metals Ltd. 100 1,180 
Honda Motor Co. Ltd. 1,100 31,400 
Hoya Corp. 300 17,053 
Hulic Co. Ltd. 200 1,835 
Idemitsu Kosan Co. Ltd. 100 4,564 
IHI Corp. 100 3,658 
Iida Group Holdings Co. Ltd. 100 1,820 
INPEX Corp. 700 7,971 
Isetan Mitsukoshi Holdings Ltd. 200 2,337 
Isuzu Motors Ltd. 400 5,244 
Itochu Corp. 1,000 18,546 
J. Front Retailing Co. Ltd. 200 2,621 
Japan Airlines Co. Ltd. 100 3,560 
Japan Exchange Group, Inc. 300 5,387 
Japan Post Bank Co. Ltd. 300 3,502 
Japan Post Holdings Co. Ltd. 1,000 11,858 
Japan Prime Realty Investment Corp. 1 3,572 
Japan Real Estate Investment Corp. 1 5,158 
Japan Retail Fund Investment Corp. 2 3,694 
Japan Tobacco, Inc. 800 20,556 
JFE Holdings, Inc. 400 7,517 
JGC Corp. 100 1,936 
JSR Corp. 100 1,494 
JTEKT Corp. 100 1,244 
JX Holdings, Inc. 2,200 14,865 
Kajima Corp. 500 6,438 
Kakaku.com, Inc. 100 1,814 
Kamigumi Co. Ltd. 100 2,069 
Kansai Electric Power Co., Inc. 500 7,653 
Kansai Paint Co. Ltd. 100 1,481 
Kao Corp. 400 26,609 
Kawasaki Heavy Industries Ltd. 100 2,370 
KDDI Corp. 1,200 29,040 
Keihan Electric Railway Co., Ltd. 100 3,793 
Keihin Electric Express Railway Co. Ltd. 100 1,481 
Keio Corp. 100 5,431 
Keisei Electric Railway Co. 100 3,082 
Keyence Corp. 100 49,010 
Kikkoman Corp. 100 5,479 
Kintetsu Group Holdings Co. Ltd. 100 3,837 
Kirin Holdings Co. Ltd. 600 14,318 
Kobe Steel Ltd. 200 1,608 
Koito Manufacturing Co. Ltd. 100 4,768 
Komatsu Ltd. 700 18,230 
Konami Holdings Corp. 100 3,815 
Konica Minolta, Inc. 300 2,970 
Kubota Corp. 700 11,051 
Kuraray Co. Ltd. 200 2,747 
Kurita Water Industries Ltd. 100 2,466 
Kyocera Corp. 200 10,825 
Kyowa Hakko Kirin Co., Ltd. 200 3,873 
Kyushu Electric Power Co., Inc. 300 3,494 
Kyushu Railway Co. 100 3,066 
LINE Corp. (a) 100 3,188 
Lion Corp. 200 3,758 
LIXIL Group Corp. 200 3,155 
M3, Inc. 400 6,445 
Makita Corp. 200 6,922 
Marubeni Corp. 1,100 8,920 
Marui Group Co. Ltd. 100 2,153 
Maruichi Steel Tube Ltd. 100 2,889 
Mazda Motor Corp. 400 4,260 
McDonald's Holdings Co. (Japan) Ltd. 100 4,405 
Mebuki Financial Group, Inc. 500 1,529 
Medipal Holdings Corp. 100 2,147 
Meiji Holdings Co. Ltd. 100 6,635 
Minebea Mitsumi, Inc. 300 4,589 
Misumi Group, Inc. 200 4,016 
Mitsubishi Chemical Holdings Corp. 900 7,016 
Mitsubishi Corp. 900 25,331 
Mitsubishi Electric Corp. 1,300 16,457 
Mitsubishi Estate Co. Ltd. 800 12,785 
Mitsubishi Gas Chemical Co., Inc. 100 1,685 
Mitsubishi Heavy Industries Ltd. 200 7,050 
Mitsubishi Materials Corp. 100 2,768 
Mitsubishi Motors Corp. of Japan 400 2,513 
Mitsubishi Tanabe Pharma Corp. 200 2,957 
Mitsubishi UFJ Financial Group, Inc. 8,200 49,630 
Mitsubishi UFJ Lease & Finance Co. Ltd. 300 1,545 
Mitsui & Co. Ltd. 1,200 20,050 
Mitsui Chemicals, Inc. 100 2,242 
Mitsui Fudosan Co. Ltd. 600 13,513 
Mitsui OSK Lines Ltd. 100 2,430 
Mizuho Financial Group, Inc. 16,500 28,337 
MS&AD Insurance Group Holdings, Inc. 300 9,011 
Murata Manufacturing Co. Ltd. 100 15,212 
Nabtesco Corp. 100 2,205 
Nagoya Railroad Co. Ltd. 100 2,416 
NEC Corp. 200 5,741 
New Hampshire Foods Ltd. 100 3,449 
Nexon Co. Ltd. (a) 300 3,419 
NGK Insulators Ltd. 200 2,815 
NGK Spark Plug Co. Ltd. 100 2,031 
Nidec Corp. 200 25,684 
Nikon Corp. 200 3,487 
Nintendo Co. Ltd. 100 31,220 
Nippon Building Fund, Inc. 1 5,716 
Nippon Electric Glass Co. Ltd. 100 2,520 
Nippon Express Co. Ltd. 100 6,311 
Nippon Paint Holdings Co. Ltd. 100 3,133 
Nippon Prologis REIT, Inc. 1 2,017 
Nippon Steel & Sumitomo Metal Corp. 500 9,223 
Nippon Telegraph & Telephone Corp. 500 20,619 
Nippon Yusen KK 100 1,613 
Nissan Chemical Corp. 100 4,715 
Nissan Motor Co. Ltd. 1,600 14,556 
Nisshin Seifun Group, Inc. 100 1,990 
Nissin Food Holdings Co. Ltd. 100 6,461 
Nitori Holdings Co. Ltd. 100 13,059 
Nitto Denko Corp. 100 6,248 
NKSJ Holdings, Inc. 200 8,249 
NOK Corp. 100 1,439 
Nomura Holdings, Inc. 2,300 11,045 
Nomura Real Estate Holdings, Inc. 100 1,878 
Nomura Real Estate Master Fund, Inc. 3 3,890 
Nomura Research Institute Ltd. 100 4,431 
NSK Ltd. 200 1,976 
NTT Data Corp. 400 5,135 
NTT DOCOMO, Inc. 900 22,319 
Obayashi Corp. 400 3,531 
Odakyu Electric Railway Co. Ltd. 200 4,228 
Oji Holdings Corp. 1,000 7,101 
Olympus Corp. 200 6,666 
OMRON Corp. 100 4,059 
Ono Pharmaceutical Co. Ltd. 300 6,838 
Oriental Land Co. Ltd. 100 9,408 
ORIX Corp. 900 14,684 
Osaka Gas Co. Ltd. 300 5,486 
Otsuka Corp. 100 3,323 
Otsuka Holdings Co. Ltd. 300 14,348 
Panasonic Corp. 1,500 16,097 
Park24 Co. Ltd. 100 2,633 
Pola Orbis Holdings, Inc. 100 2,676 
Rakuten, Inc. 600 4,058 
Recruit Holdings Co. Ltd. 800 21,472 
Renesas Electronics Corp. (a) 600 3,180 
Resona Holdings, Inc. 1,400 7,364 
Ricoh Co. Ltd. 400 3,993 
ROHM Co. Ltd. 100 7,037 
Santen Pharmaceutical Co. Ltd. 200 2,969 
SBI Holdings, Inc. Japan 200 5,248 
Secom Co. Ltd. 200 16,374 
Sega Sammy Holdings, Inc. 100 1,288 
Seibu Holdings, Inc. 100 1,814 
Seiko Epson Corp. 200 3,222 
Sekisui Chemical Co. Ltd. 300 4,714 
Sekisui House Ltd. 400 5,871 
Seven & i Holdings Co. Ltd. 500 21,650 
Seven Bank Ltd. 400 1,251 
SG Holdings Co. Ltd. 100 2,520 
Sharp Corp. 100 1,534 
Shimadzu Corp. 200 5,057 
SHIMANO, Inc. 100 13,684 
SHIMIZU Corp. 400 3,247 
Shin-Etsu Chemical Co. Ltd. 300 25,068 
Shinsei Bank Ltd. 100 1,523 
Shionogi & Co. Ltd. 200 12,789 
Shiseido Co. Ltd. 300 18,929 
Shizuoka Bank Ltd. 300 2,625 
Showa Denko K.K. 100 4,354 
Showa Shell Sekiyu K.K. 100 1,909 
SoftBank Corp. 600 47,483 
Sohgo Security Services Co., Ltd. 100 4,458 
Sony Corp. 900 48,705 
Sony Financial Holdings, Inc. 100 2,307 
Stanley Electric Co. Ltd. 100 2,965 
Subaru Corp. 400 10,790 
Sumco Corp. 200 2,699 
Sumitomo Chemical Co. Ltd. 1,000 5,009 
Sumitomo Corp. 800 12,133 
Sumitomo Electric Industries Ltd. 500 6,819 
Sumitomo Heavy Industries Ltd. 100 3,145 
Sumitomo Metal Mining Co. Ltd. 200 6,297 
Sumitomo Mitsui Financial Group, Inc. 900 35,042 
Sumitomo Mitsui Trust Holdings, Inc. 200 7,947 
Sumitomo Rubber Industries Ltd. 100 1,440 
Sundrug Co. Ltd. 100 3,634 
Suntory Beverage & Food Ltd. 100 4,081 
Suzuken Co. Ltd. 100 5,069 
Suzuki Motor Corp. 200 9,973 
Sysmex Corp. 100 7,023 
T&D Holdings, Inc. 400 6,394 
Taiheiyo Cement Corp. 100 2,943 
Taisei Corp. 200 8,554 
Taiyo Nippon Sanso Corp. 100 1,610 
Takashimaya Co. Ltd. 100 1,574 
Takeda Pharmaceutical Co. Ltd. 500 20,730 
TDK Corp. 100 8,623 
Teijin Ltd. 100 1,734 
Temp Holdings Co., Ltd. 100 1,904 
Terumo Corp. 200 10,796 
THK Co. Ltd. 100 2,217 
Tobu Railway Co. Ltd. 200 5,563 
Toho Co. Ltd. 100 3,263 
Toho Gas Co. Ltd. 100 3,456 
Tohoku Electric Power Co., Inc. 300 3,797 
Tokio Marine Holdings, Inc. 500 23,556 
Tokyo Electric Power Co., Inc. (a) 1,000 5,118 
Tokyo Electron Ltd. 100 13,495 
Tokyo Gas Co. Ltd. 300 7,378 
Tokyo Tatemono Co. Ltd. 100 1,076 
Tokyu Corp. 300 4,956 
Tokyu Fudosan Holdings Corp. 300 1,690 
Toray Industries, Inc. 900 6,384 
Toshiba Corp. (a) 500 14,978 
Tosoh Corp. 200 2,633 
Toto Ltd. 100 3,578 
Toyo Seikan Group Holdings Ltd. 100 2,040 
Toyo Suisan Kaisha Ltd. 100 3,448 
Toyota Industries Corp. 100 4,919 
Toyota Motor Corp. 1,600 93,730 
Toyota Tsusho Corp. 200 7,218 
Trend Micro, Inc. 100 5,757 
Unicharm Corp. 300 8,168 
United Urban Investment Corp. 2 3,047 
USS Co. Ltd. 200 3,611 
West Japan Railway Co. 100 6,726 
Yahoo! Japan Corp. 1,800 5,616 
Yakult Honsha Co. Ltd. 100 7,099 
Yamada Denki Co. Ltd. 400 1,886 
Yamaguchi Financial Group, Inc. 100 1,057 
Yamaha Corp. 100 4,394 
Yamaha Motor Co. Ltd. 200 4,730 
Yamato Holdings Co. Ltd. 200 5,468 
Yamazaki Baking Co. Ltd. 100 1,804 
Yaskawa Electric Corp. 200 5,781 
Yokogawa Electric Corp. 200 3,927 
Yokohama Rubber Co. Ltd. 100 1,937 
Zozo, Inc. 100 2,410 
TOTAL JAPAN  2,280,876 
Luxembourg - 0.3%   
ArcelorMittal SA (Netherlands) 484 12,082 
Eurofins Scientific SA 8 4,045 
Millicom International Cellular SA (depository receipt) 44 2,486 
RTL Group SA 26 1,670 
SES SA (France) (depositary receipt) 241 5,180 
Tenaris SA 388 5,712 
TOTAL LUXEMBOURG  31,175 
Mauritius - 0.0%   
Golden Agri-Resources Ltd. 4,300 792 
Multi-National - 0.1%   
HK Electric Investments & HK Electric Investments Ltd. unit (b) 2,000 1,903 
HKT Trust/HKT Ltd. unit 3,000 4,132 
TOTAL MULTI-NATIONAL  6,035 
Netherlands - 4.3%   
ABN AMRO Group NV GDR 280 6,882 
AEGON NV 1,140 7,009 
AerCap Holdings NV (a) 83 4,157 
Airbus Group NV 411 45,421 
Akzo Nobel NV 185 15,565 
ASML Holding NV (Netherlands) 289 49,779 
CNH Industrial NV 768 7,991 
EXOR NV 72 4,081 
Ferrari NV 89 10,433 
Fiat Chrysler Automobiles NV 784 11,944 
Heineken Holding NV 76 6,585 
Heineken NV (Bearer) 187 16,860 
ING Groep NV (Certificaten Van Aandelen) 2,754 32,583 
Koninklijke Ahold Delhaize NV 890 20,393 
Koninklijke DSM NV 136 11,920 
Koninklijke KPN NV 2,225 5,871 
Koninklijke Philips Electronics NV 670 24,988 
NN Group NV 202 8,694 
NXP Semiconductors NV 243 18,223 
QIAGEN NV (Germany) (a) 150 5,449 
Randstad NV 79 3,986 
STMicroelectronics NV (France) 452 6,871 
Unibail-Rodamco SE & WFD Unibail-Rodamco NV unit 102 18,517 
Unilever NV (Certificaten Van Aandelen) (Bearer) 1,084 58,249 
Vopak NV 47 2,129 
Wolters Kluwer NV 215 12,215 
TOTAL NETHERLANDS  416,795 
New Zealand - 0.2%   
Auckland International Airport Ltd. 648 2,956 
Fisher & Paykel Healthcare Corp. 378 3,355 
Fletcher Building Ltd. 565 2,227 
Meridian Energy Ltd. 848 1,735 
Ryman Healthcare Group Ltd. 265 2,092 
Spark New Zealand Ltd. 1,215 3,132 
The a2 Milk Co. Ltd. (a) 483 3,284 
TOTAL NEW ZEALAND  18,781 
Norway - 0.8%   
Aker Bp ASA 72 2,374 
DNB ASA 704 12,740 
Equinor ASA 854 22,217 
Gjensidige Forsikring ASA 132 2,045 
Marine Harvest ASA 276 6,679 
Norsk Hydro ASA 890 4,620 
Orkla ASA 539 4,651 
Schibsted ASA (B Shares) 65 2,059 
Telenor ASA 548 10,053 
Yara International ASA 118 5,077 
TOTAL NORWAY  72,515 
Papua New Guinea - 0.0%   
Oil Search Ltd. ADR 907 4,991 
Portugal - 0.2%   
Energias de Portugal SA 1,981 6,965 
Galp Energia SGPS SA Class B 393 6,853 
Jeronimo Martins SGPS SA 167 2,054 
TOTAL PORTUGAL  15,872 
Singapore - 1.2%   
Ascendas Real Estate Investment Trust 1,600 2,911 
CapitaCommercial Trust (REIT) 1,700 2,123 
CapitaLand Ltd. 1,700 3,854 
CapitaMall Trust 1,600 2,437 
City Developments Ltd. 300 1,713 
ComfortDelgro Corp. Ltd. 1,400 2,274 
DBS Group Holdings Ltd. 1,300 22,018 
Jardine Cycle & Carriage Ltd. 100 2,185 
Keppel Corp. Ltd. 1,000 4,476 
Oversea-Chinese Banking Corp. Ltd. 2,300 17,833 
Sembcorp Industries Ltd. 700 1,425 
Singapore Airlines Ltd. 400 2,738 
Singapore Airport Terminal Service Ltd. 400 1,438 
Singapore Exchange Ltd. 500 2,469 
Singapore Press Holdings Ltd. 1,100 2,104 
Singapore Technologies Engineering Ltd. 1,000 2,563 
Singapore Telecommunications Ltd. 5,800 13,232 
Suntec (REIT) 1,400 1,789 
United Overseas Bank Ltd. 1,000 17,601 
UOL Group Ltd. 300 1,306 
Venture Corp. Ltd. 200 2,212 
Wilmar International Ltd. 1,300 2,966 
Yangzijiang Shipbuilding Holdings Ltd. 1,600 1,432 
TOTAL SINGAPORE  115,099 
Spain - 2.9%   
ACS Actividades de Construccion y Servicios SA 171 6,413 
Aena Sme SA 45 7,194 
Amadeus IT Holding SA Class A 311 25,073 
Banco Bilbao Vizcaya Argentaria SA 4,738 26,149 
Banco de Sabadell SA 4,506 5,946 
Banco Santander SA 11,401 54,245 
Banco Santander SA rights (a) 11,401 443 
Bankia SA 817 2,572 
Bankinter SA 446 3,659 
CaixaBank SA 2,599 10,517 
Enagas SA 150 3,982 
Endesa SA 210 4,396 
Ferrovial SA 321 6,435 
Gas Natural SDG SA 232 5,707 
Grifols SA 197 5,621 
Iberdrola SA 4,270 30,257 
Inditex SA 772 21,799 
International Consolidated Airlines Group SA 406 3,136 
MAPFRE SA (Reg.) 713 2,135 
Red Electrica Corporacion SA 286 5,922 
Repsol SA 1,005 17,958 
Siemens Gamesa Renewable Energy SA (a) 158 1,752 
Telefonica SA 3,353 27,505 
TOTAL SPAIN  278,816 
Sweden - 2.4%   
Alfa Laval AB 194 4,954 
ASSA ABLOY AB (B Shares) 731 14,540 
Atlas Copco AB:   
(A Shares) 476 11,787 
(B Shares) 278 6,372 
Boliden AB 181 4,137 
Electrolux AB (B Shares) 159 3,305 
Epiroc AB:   
Class A (a) 444 3,899 
Class B (a) 258 2,127 
Essity AB Class B 401 9,154 
H&M Hennes & Mauritz AB (B Shares) 645 11,392 
Hexagon AB (B Shares) 171 8,383 
Husqvarna AB (B Shares) 276 2,085 
ICA Gruppen AB 53 1,876 
Industrivarden AB (C Shares) 111 2,307 
Investor AB (B Shares) 339 14,696 
Kinnevik AB (B Shares) 155 4,301 
Lundbergfoeretagen AB 50 1,543 
Lundin Petroleum AB 124 3,786 
Sandvik AB 841 13,316 
Securitas AB (B Shares) 207 3,550 
Skandinaviska Enskilda Banken AB (A Shares) 1,199 12,416 
Skanska AB (B Shares) 225 3,542 
SKF AB (B Shares) 250 4,016 
Svenska Handelsbanken AB (A Shares) 1,118 12,152 
Swedbank AB (A Shares) 668 15,045 
Swedish Match Co. AB 116 5,911 
Tele2 AB (B Shares) 239 2,716 
Telefonaktiebolaget LM Ericsson (B Shares) 2,179 18,972 
TeliaSonera AB 1,863 8,400 
Volvo AB (B Shares) 1,133 16,937 
TOTAL SWEDEN  227,617 
Switzerland - 8.4%   
ABB Ltd. (Reg.) 1,315 26,460 
Adecco SA (Reg.) 108 5,291 
Baloise Holdings AG 32 4,582 
Barry Callebaut AG 1 1,955 
Clariant AG (Reg.) 132 2,845 
Coca-Cola HBC AG 134 3,957 
Compagnie Financiere Richemont SA Series A 371 27,117 
Credit Suisse Group AG 1,825 23,859 
Dufry AG 21 2,368 
Ems-Chemie Holding AG 5 2,755 
Galenica AG 30 4,336 
Geberit AG (Reg.) 25 9,788 
Givaudan SA 7 16,987 
Julius Baer Group Ltd. 148 6,750 
Kuehne & Nagel International AG 36 5,008 
Lafargeholcim Ltd. (Reg.) 351 16,258 
Lindt & Spruengli AG (participation certificate) 2 13,801 
Lonza Group AG 53 16,666 
Nestle SA (Reg. S) 2,184 184,370 
Novartis AG 1,526 133,635 
Pargesa Holding SA 26 1,909 
Partners Group Holding AG 12 8,549 
Roche Holding AG (participation certificate) 495 120,464 
Schindler Holding AG:   
(participation certificate) 27 5,694 
(Reg.) 13 2,700 
SGS SA (Reg.) 4 9,500 
Sika AG 94 12,059 
Sonova Holding AG Class B 37 6,045 
Straumann Holding AG 7 4,778 
Swatch Group AG (Bearer) 24 8,121 
Swatch Group AG (Bearer) (Reg.) 37 2,471 
Swiss Life Holding AG 28 10,570 
Swiss Prime Site AG 49 3,980 
Swiss Re Ltd. 227 20,501 
Swisscom AG 19 8,704 
Temenos Group AG 40 5,501 
UBS Group AG 2,732 38,221 
Zurich Insurance Group AG 107 33,222 
TOTAL SWITZERLAND  811,777 
United Kingdom - 15.7%   
3i Group PLC 644 7,229 
Admiral Group PLC 133 3,422 
Anglo American PLC (United Kingdom) 760 16,273 
Antofagasta PLC 261 2,618 
Ashtead Group PLC 365 9,030 
Associated British Foods PLC 236 7,197 
AstraZeneca PLC (United Kingdom) 895 68,458 
Auto Trader Group PLC (b) 627 3,276 
Aviva PLC 2,945 16,094 
Babcock International Group PLC 167 1,305 
BAE Systems PLC 2,291 15,362 
Barclays PLC 12,186 26,850 
Barratt Developments PLC 670 4,402 
Berkeley Group Holdings PLC 84 3,759 
BHP Billiton PLC 1,510 30,123 
BP PLC 14,103 101,876 
British American Tobacco PLC (United Kingdom) 1,633 70,791 
British Land Co. PLC 609 4,608 
BT Group PLC 6,009 18,400 
Bunzl PLC 208 6,144 
Burberry Group PLC 277 6,412 
Carnival PLC 119 6,486 
Centrica PLC 3,712 6,984 
Coca-Cola European Partners PLC 144 6,551 
Compass Group PLC 1,139 22,420 
ConvaTec Group PLC (b) 914 1,893 
Croda International PLC 87 5,360 
Diageo PLC 1,744 60,293 
Direct Line Insurance Group PLC 910 3,833 
easyJet PLC 105 1,611 
Fresnillo PLC 146 1,584 
G4S PLC (United Kingdom) 1,027 2,822 
GlaxoSmithKline PLC 3,505 67,884 
Hammerson PLC 526 2,948 
Hargreaves Lansdown PLC 188 4,489 
HSBC Holdings PLC (United Kingdom) 14,228 117,091 
Imperial Tobacco Group PLC 680 23,059 
Informa PLC 944 8,610 
InterContinental Hotel Group PLC 117 6,146 
Intertek Group PLC 107 6,412 
Investec PLC 443 2,741 
ITV PLC 2,398 4,566 
J Sainsbury PLC 1,163 4,626 
John Wood Group PLC 449 4,099 
Johnson Matthey PLC 128 4,864 
Kingfisher PLC 1,420 4,611 
Land Securities Group PLC 525 5,725 
Legal & General Group PLC 4,473 14,379 
Lloyds Banking Group PLC 50,955 37,184 
London Stock Exchange Group PLC 227 12,520 
Marks & Spencer Group PLC 1,075 4,067 
Mediclinic International PLC 244 1,174 
Meggitt PLC 514 3,481 
Melrose Industries PLC 3,524 7,597 
Merlin Entertainments PLC (b) 474 1,958 
Micro Focus International PLC 289 4,480 
Mondi PLC 243 5,729 
National Grid PLC 2,388 25,310 
Next PLC 93 6,186 
NMC Health PLC 69 3,115 
Pearson PLC 517 5,939 
Persimmon PLC 201 5,894 
Prudential PLC 1,834 36,723 
Reckitt Benckiser Group PLC 471 38,087 
RELX PLC 770 15,255 
RELX PLC 710 14,049 
Rio Tinto PLC 848 41,171 
Rolls-Royce Holdings PLC 1,185 12,708 
Royal Bank of Scotland Group PLC 3,590 10,808 
Royal Dutch Shell PLC:   
Class A (United Kingdom) 3,235 103,061 
Class B (United Kingdom) 2,657 86,653 
Royal Mail PLC 596 2,735 
RSA Insurance Group PLC 679 4,898 
Sage Group PLC 717 4,989 
Schroders PLC 82 2,809 
Scottish & Southern Energy PLC 775 11,296 
Segro PLC 669 5,256 
Severn Trent PLC 157 3,739 
Smith & Nephew PLC 638 10,371 
Smiths Group PLC 262 4,680 
St. James's Place Capital PLC 350 4,534 
Standard Chartered PLC (United Kingdom) 2,039 14,321 
Standard Life PLC 1,553 5,370 
Taylor Wimpey PLC 2,815 5,811 
Tesco PLC 6,946 18,917 
The Weir Group PLC 159 3,223 
Travis Perkins PLC 167 2,363 
Unilever PLC 861 45,607 
United Utilities Group PLC 451 4,189 
Vodafone Group PLC 18,937 35,612 
Whitbread PLC 122 6,861 
WM Morrison Supermarkets PLC 1,481 4,697 
TOTAL UNITED KINGDOM  1,511,143 
TOTAL COMMON STOCKS   
(Cost $9,849,408)  9,248,385 
Nonconvertible Preferred Stocks - 0.6%   
Germany - 0.6%   
Bayerische Motoren Werke AG (BMW) (non-vtg.) 36 2,720 
Fuchs Petrolub AG 46 2,133 
Henkel AG & Co. KGaA 130 14,221 
Porsche Automobil Holding SE (Germany) 109 6,932 
Sartorius AG (non-vtg.) 24 3,480 
Volkswagen AG 131 22,073 
TOTAL GERMANY  51,559 
Italy - 0.0%   
Telecom Italia SpA (Risparmio Shares) 4,409 2,231 
United Kingdom - 0.0%   
Rolls-Royce Holdings PLC Series C (a) 54,510 70 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $55,334)  53,860 
Money Market Funds - 2.5%   
Fidelity Cash Central Fund, 2.23% (c)   
(Cost $236,659) 236,595 236,642 
TOTAL INVESTMENT IN SECURITIES - 99.1%   
(Cost $10,141,401)  9,538,887 
NET OTHER ASSETS (LIABILITIES) - 0.9%  91,011 
NET ASSETS - 100%  $9,629,898 

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) 3 Dec. 2018 $271,875 $(16,229) $(16,229) 

The notional amount of futures purchased as a percentage of Net Assets is 2.8%

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

Legend

 (a) Non-income producing

 (b) 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 $47,679 or 0.5% of net assets.

 (c) 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, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund Income earned 
Fidelity Cash Central Fund $3,256 
Total $3,256 

Amounts in the 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.

Investment Valuation

The following is a summary of the inputs used, as of October 31, 2018, 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 $512,062 $135,834 $376,228 $-- 
Consumer Discretionary 983,032 540,828 442,204 -- 
Consumer Staples 1,091,040 385,359 705,681 -- 
Energy 580,426 107,189 473,237 -- 
Financials 1,839,539 896,424 943,115 -- 
Health Care 1,065,470 257,331 808,139 -- 
Industrials 1,319,660 623,471 696,189 -- 
Information Technology 564,843 237,097 327,746 -- 
Materials 713,332 397,885 315,447 -- 
Real Estate 325,221 271,083 54,138 -- 
Utilities 307,620 201,311 106,309 -- 
Money Market Funds 236,642 236,642 -- -- 
Total Investments in Securities: $9,538,887 $4,290,454 $5,248,433 $-- 
Derivative Instruments:     
Liabilities     
Futures Contracts $(16,229) $(16,229) $-- $-- 
Total Liabilities $(16,229) $(16,229) $-- $-- 
Total Derivative Instruments: $(16,229) $(16,229) $-- $-- 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of October 31, 2018. 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 $(16,229) 
Total Equity Risk 0 (16,229) 
Total Value of Derivatives $0 $(16,229) 

 (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 net unrealized appreciation (depreciation).

See accompanying notes which are an integral part of the financial statements.


Financial Statements

Statement of Assets and Liabilities

  October 31, 2018 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $9,904,742) 		$9,302,245  
Fidelity Central Funds (cost $236,659) 236,642  
Total Investment in Securities (cost $10,141,401)  $9,538,887 
Segregated cash with brokers for derivative instruments  13,500 
Cash  6,229 
Foreign currency held at value (cost $53,898)  53,528 
Receivable for fund shares sold  4,840 
Dividends receivable  26,005 
Distributions receivable from Fidelity Central Funds  371 
Receivable for daily variation margin on futures contracts  2,160 
Receivable from investment adviser for expense reductions  9,016 
Total assets  9,654,536 
Liabilities   
Custody fees payable $24,638  
Total liabilities  24,638 
Net Assets  $9,629,898 
Net Assets consist of:   
Paid in capital  $10,214,750 
Total distributable earnings (loss)  (584,852) 
Net Assets, for 1,021,283 shares outstanding  $9,629,898 
Net Asset Value, offering price and redemption price per share ($9,629,898 ÷ 1,021,283 shares)  $9.43 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  For the period
August 17, 2018 (commencement of operations) to
October 31, 2018 
Investment Income   
Dividends  $48,636 
Interest  19 
Income from Fidelity Central Funds  3,256 
Income before foreign taxes withheld  51,911 
Less foreign taxes withheld  (3,828) 
Total income  48,083 
Expenses   
Custodian fees and expenses $24,638  
Independent trustees' fees and expenses 7  
Total expenses before reductions 24,645  
Expense reductions (24,340)  
Total expenses after reductions  305 
Net investment income (loss)  47,778 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 5,621  
Fidelity Central Funds (983)  
Foreign currency transactions (25,644)  
Futures contracts 7,602  
Total net realized gain (loss)  (13,404) 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (602,497)  
Fidelity Central Funds (17)  
Assets and liabilities in foreign currencies (483)  
Futures contracts (16,229)  
Total change in net unrealized appreciation (depreciation)  (619,226) 
Net gain (loss)  (632,630) 
Net increase (decrease) in net assets resulting from operations  $(584,852) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 For the period
August 17, 2018 (commencement of operations) to
October 31, 2018 
Increase (Decrease) in Net Assets  
Operations  
Net investment income (loss) $47,778 
Net realized gain (loss) (13,404) 
Change in net unrealized appreciation (depreciation) (619,226) 
Net increase (decrease) in net assets resulting from operations (584,852) 
Share transactions  
Proceeds from sales of shares 10,215,760 
Cost of shares redeemed (1,010) 
Net increase (decrease) in net assets resulting from share transactions 10,214,750 
Total increase (decrease) in net assets 9,629,898 
Net Assets  
Beginning of period – 
End of period $9,629,898 
Other Information  
Shares  
Sold 1,021,388 
Redeemed (105) 
Net increase (decrease) 1,021,283 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity Series International Index Fund

  
Years ended October 31, 2018 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .05 
Net realized and unrealized gain (loss) (.62) 
Total from investment operations (.57) 
Net asset value, end of period $9.43 
Total ReturnC,D (5.70)% 
Ratios to Average Net AssetsE,F  
Expenses before reductions 1.18%G 
Expenses net of fee waivers, if any .01%G 
Expenses net of all reductions .01%G 
Net investment income (loss) 2.29%G 
Supplemental Data  
Net assets, end of period (000 omitted) $9,630 
Portfolio turnover rateH 1%I 

 A For the period August 17, 2018 (commencement of operations) to October 31, 2018.

 B Calculated based on average shares outstanding during the period.

 C Total returns for periods of less than one year are not annualized.

 D Total returns would have been lower if certain expenses had not been reduced during the applicable periods shown.

 E Fees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

 F Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expense ratios before reductions for start-up periods may not be representative of longer term operating periods. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.

 G Annualized

 H Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

 I Amount not annualized.

See accompanying notes which are an integral part of the financial statements.


Notes to Financial Statements

For the period ended October 31, 2018

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 of the Fund are only available for purchase by mutual funds for which Fidelity Management & Research Company (FMR) or an affiliate serves as an investment manager. 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.

The Fund invests 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 Fund's Schedule of Investments lists each of the Fidelity Central Funds held as of period end, if any, as an investment of the Fund, but does not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, the Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .005%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC 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 – Investments 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 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 delegated the day to day responsibility for the valuation of the Fund's investments to the Fair Value Committee (the Committee) established by the Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, the Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees the Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing the Fund's investments and ratifies the fair value determinations of the Committee.

The Fund categorizes the inputs to valuation techniques used to value its investments into a disclosure hierarchy consisting of three levels as shown below:

  • Level 1 – quoted prices in active markets for identical investments
  • Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
  • Level 3 – unobservable inputs (including the Fund's own assumptions based on the best information available)

Valuation techniques used to value the Fund's investments by major category are as follows:

Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. 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.

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 October 31, 2018 is included at the end of the Fund's Schedule of Investments.

Foreign Currency. The Fund 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. 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. 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. As of October 31, 2018, the Fund did not have any unrecognized tax benefits in the financial statements; nor is the Fund aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. 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) and capital loss carryforwards.

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 $85,863 
Gross unrealized depreciation (690,030) 
Net unrealized appreciation (depreciation) $(604,167) 
Tax Cost $10,143,054 

The tax-based components of distributable earnings as of period end were as follows:

Undistributed ordinary income $23,787 
Capital loss carryforward $(3,989) 
Net unrealized appreciation (depreciation) on securities and other investments $(604,650) 

Capital loss carryforwards are only available to offset future capital gains of the Fund to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Fund is permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of fiscal period end and is subject to adjustment.

No expiration  
Long-term $(3,989) 
Total no expiration (3,989) 
Total capital loss carryforward $(3,989) 

Restricted Securities. The Fund may invest in securities that are subject to legal or contractual restrictions on resale. These securities generally may be resold in transactions exempt from registration or to the public if the securities are registered. Disposal of these securities may involve time-consuming negotiations and expense, and prompt sale at an acceptable price may be difficult. Information regarding restricted securities is included at the end of the Fund's Schedule of Investments.

4. Derivative Instruments.

Risk Exposures and the Use of Derivative Instruments. The Fund's investment objective allows the Fund to enter into various types of derivative contracts, 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.

The Fund used derivatives 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 Fund may not achieve its objectives.

The Fund's use of derivatives increased or decreased its exposure to the following risk:

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. 

The Fund is also exposed to additional risks from investing in derivatives, such as liquidity risk and counterparty credit risk. Liquidity risk is the risk that the 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 the Fund. Counterparty credit risk related to exchange-traded futures 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. The Fund used futures contracts to manage its 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 (variation margin) 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. 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, aggregated $9,979,428 and $80,270, respectively.

6. Fees and Other Transactions with Affiliates.

Management Fee. Fidelity Management & Research Company (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. The Fund 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. Interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.

7. Expense Reductions.

The investment adviser contractually agreed to reimburse the Fund to the extent annual operating expenses exceeded .014% of average net assets. This reimbursement will remain in place through February 28, 2022. 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 $24,340.

8. Other.

The 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, the Fund may also enter into contracts that provide general indemnifications. The Fund's maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Fund. The risk of material loss from such claims is considered remote.

At the end of the period, mutual funds managed by the investment adviser or its affiliates were the owners of record of all of the outstanding shares of the Fund.

Report of Independent Registered Public Accounting Firm

To the Trustees of Fidelity Concord Street Trust and Shareholders of Fidelity Series International Index Fund:

Opinion on the Financial Statements and Financial Highlights

We have audited the accompanying statement of assets and liabilities of Fidelity Series International Index Fund (the "Fund"), a fund of Fidelity Concord Street Trust, including the schedule of investments, as of October 31, 2018, and the related statement of operations, the statement of changes in net assets and the financial highlights for the period from August 17, 2018 (commencement of operations) to October 31, 2018, and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Fund as of October 31, 2018, and the results of its operations, the changes in its net assets and the financial highlights for the period from August 17, 2018 (commencement of operations) to October 31, 2018, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Fund's management. Our responsibility is to express an opinion on the Fund's financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Fund is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of October 31, 2018, by correspondence with the custodians and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ Deloitte & Touche LLP

Boston, Massachusetts

December 18, 2018


We have served as the auditor of one or more of the Fidelity investment companies since 1999.

Trustees and Officers

The Trustees, Members of the Advisory Board (if any), and officers of the trust and fund, as applicable, are listed below. The Board of Trustees governs the fund and is responsible for protecting the interests of shareholders. The Trustees are experienced executives who meet periodically throughout the year to oversee the fund's activities, review contractual arrangements with companies that provide services to the fund, oversee management of the risks associated with such activities and contractual arrangements, and review the fund's performance.  Except for Jonathan Chiel, each of the Trustees oversees 283 funds. Mr. Chiel oversees 154 funds. 

The Trustees hold office without limit in time except that (a) any Trustee may resign; (b) any Trustee may be removed by written instrument, signed by at least two-thirds of the number of Trustees prior to such removal; (c) any Trustee who requests to be retired or who has become incapacitated by illness or injury may be retired by written instrument signed by a majority of the other Trustees; and (d) any Trustee may be removed at any special meeting of shareholders by a two-thirds vote of the outstanding voting securities of the trust.  Each Trustee who is not an interested person (as defined in the 1940 Act) of the trust and the fund is referred to herein as an Independent Trustee.  Each Independent Trustee shall retire not later than the last day of the calendar year in which his or her 75th birthday occurs.  The Independent Trustees may waive this mandatory retirement age policy with respect to individual Trustees.  Officers and Advisory Board Members hold office without limit in time, except that any officer or Advisory Board Member may resign or may be removed by a vote of a majority of the Trustees at any regular meeting or any special meeting of the Trustees. Except as indicated, each individual has held the office shown or other offices in the same company for the past five years. 

The fund’s Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-800-544-8544.

Experience, Skills, Attributes, and Qualifications of the Trustees. The Governance and Nominating Committee has adopted a statement of policy that describes the experience, qualifications, attributes, and skills that are necessary and desirable for potential Independent Trustee candidates (Statement of Policy). The Board believes that each Trustee satisfied at the time he or she was initially elected or appointed a Trustee, and continues to satisfy, the standards contemplated by the Statement of Policy. The Governance and Nominating Committee also engages professional search firms to help identify potential Independent Trustee candidates who have the experience, qualifications, attributes, and skills consistent with the Statement of Policy. From time to time, additional criteria based on the composition and skills of the current Independent Trustees, as well as experience or skills that may be appropriate in light of future changes to board composition, business conditions, and regulatory or other developments, have also been considered by the professional search firms and the Governance and Nominating Committee. In addition, the Board takes into account the Trustees' commitment and participation in Board and committee meetings, as well as their leadership of standing and ad hoc committees throughout their tenure.

In determining that a particular Trustee was and continues to be qualified to serve as a Trustee, the Board has considered a variety of criteria, none of which, in isolation, was controlling. The Board believes that, collectively, the Trustees have balanced and diverse experience, qualifications, attributes, and skills, which allow the Board to operate effectively in governing the fund and protecting the interests of shareholders. Information about the specific experience, skills, attributes, and qualifications of each Trustee, which in each case led to the Board's conclusion that the Trustee should serve (or continue to serve) as a trustee of the fund, is provided below.

Board Structure and Oversight Function. James C. Curvey is an interested person and currently serves as Chairman. The Trustees have determined that an interested Chairman is appropriate and benefits shareholders because an interested Chairman has a personal and professional stake in the quality and continuity of services provided to the fund. Independent Trustees exercise their informed business judgment to appoint an individual of their choosing to serve as Chairman, regardless of whether the Trustee happens to be independent or a member of management. The Independent Trustees have determined that they can act independently and effectively without having an Independent Trustee serve as Chairman and that a key structural component for assuring that they are in a position to do so is for the Independent Trustees to constitute a substantial majority for the Board. The Independent Trustees also regularly meet in executive session. Ned C. Lautenbach serves as Chairman of the Independent Trustees and as such (i) acts as a liaison between the Independent Trustees and management with respect to matters important to the Independent Trustees and (ii) with management prepares agendas for Board meetings.

Fidelity® funds are overseen by different Boards of Trustees. The fund's Board oversees Fidelity's high income and certain equity funds, and other Boards oversee Fidelity's investment-grade bond, money market, asset allocation, and other equity funds. The asset allocation funds may invest in Fidelity® funds overseen by the fund's Board. The use of separate Boards, each with its own committee structure, allows the Trustees of each group of Fidelity® funds to focus on the unique issues of the funds they oversee, including common research, investment, and operational issues. On occasion, the separate Boards establish joint committees to address issues of overlapping consequences for the Fidelity® funds overseen by each Board.

The Trustees operate using a system of committees to facilitate the timely and efficient consideration of all matters of importance to the Trustees, the fund, and fund shareholders and to facilitate compliance with legal and regulatory requirements and oversight of the fund's activities and associated risks.  The Board, acting through its committees, has charged FMR and its affiliates with (i) identifying events or circumstances the occurrence of which could have demonstrably adverse effects on the fund's business and/or reputation; (ii) implementing processes and controls to lessen the possibility that such events or circumstances occur or to mitigate the effects of such events or circumstances if they do occur; and (iii) creating and maintaining a system designed to evaluate continuously business and market conditions in order to facilitate the identification and implementation processes described in (i) and (ii) above.  Because the day-to-day operations and activities of the fund are carried out by or through FMR, its affiliates, and other service providers, the fund's exposure to risks is mitigated but not eliminated by the processes overseen by the Trustees.  While each of the Board's committees has responsibility for overseeing different aspects of the fund's activities, oversight is exercised primarily through the Operations, Audit, and Compliance Committees.  In addition, the Independent Trustees have worked with Fidelity to enhance the Board's oversight of investment and financial risks, legal and regulatory risks, technology risks, and operational risks, including the development of additional risk reporting to the Board.  Appropriate personnel, including but not limited to the fund's Chief Compliance Officer (CCO), FMR's internal auditor, the independent accountants, the fund's Treasurer and portfolio management personnel, make periodic reports to the Board's committees, as appropriate, including an annual review of Fidelity's risk management program for the Fidelity® funds.  The responsibilities of each standing committee, including their oversight responsibilities, are described further under "Standing Committees of the Trustees." 

Interested Trustees*:

Correspondence intended for a Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Jonathan Chiel (1957)

Year of Election or Appointment: 2016

Trustee

Mr. Chiel also serves as Trustee of other Fidelity® funds. Mr. Chiel is Executive Vice President and General Counsel for FMR LLC (diversified financial services company, 2012-present). Previously, Mr. Chiel served as general counsel (2004-2012) and senior vice president and deputy general counsel (2000-2004) for John Hancock Financial Services; a partner with Choate, Hall & Stewart (1996-2000) (law firm); and an Assistant United States Attorney for the United States Attorney’s Office of the District of Massachusetts (1986-95), including Chief of the Criminal Division (1993-1995). Mr. Chiel is a director on the boards of the Boston Bar Foundation and the Maimonides School.

James C. Curvey (1935)

Year of Election or Appointment: 2007

Trustee

Chairman of the Board of Trustees

Mr. Curvey also serves as Trustee of other Fidelity® funds. Mr. Curvey is Vice Chairman (2007-present) and Director of FMR LLC (diversified financial services company). In addition, Mr. Curvey is an Overseer Emeritus for the Boston Symphony Orchestra, a Director of Artis-Naples, and a Trustee of Brewster Academy in Wolfeboro, New Hampshire. Previously, Mr. Curvey served as a Director of Fidelity Research & Analysis Co. (investment adviser firm, 2009-2018), Director of Fidelity Investments Money Management, Inc. (investment adviser firm, 2009-2014) and a Director of FMR and FMR Co., Inc. (investment adviser firms, 2007-2014).

Charles S. Morrison (1960)

Year of Election or Appointment: 2014

Trustee

Mr. Morrison also serves as Trustee of other funds. He serves as President of Fidelity SelectCo, LLC (investment adviser firm, 2017-present) and Fidelity Management & Research Company (FMR) (investment adviser firm, 2016-present), a Director of Fidelity Investments Money Management, Inc. (FIMM) (investment adviser firm, 2014-present), Director of Fidelity SelectCo, LLC (investment adviser firm, 2014-present), President, Asset Management (2014-present), and is an employee of Fidelity Investments. Previously, Mr. Morrison served as Vice President of Fidelity's Fixed Income and Asset Allocation Funds (2012-2014), President, Fixed Income (2011-2014), Vice President of Fidelity's Money Market Funds (2005-2009), President, Money Market Group Leader of FMR (investment adviser firm, 2009), and Senior Vice President, Money Market Group of FMR (2004-2009). Mr. Morrison also served as Vice President of Fidelity's Bond Funds (2002-2005), certain Balanced Funds (2002-2005), and certain Asset Allocation Funds (2002-2007), and as Senior Vice President (2002-2005) of Fidelity's Bond Division.

 * Determined to be an “Interested Trustee” by virtue of, among other things, his or her affiliation with the trust or various entities under common control with FMR. 

 + The information includes the Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to the Trustee's qualifications to serve as a Trustee, which led to the conclusion that the Trustee should serve as a Trustee for the fund. 

Independent Trustees:

Correspondence intended for an Independent Trustee may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Dennis J. Dirks (1948)

Year of Election or Appointment: 2005

Trustee

Mr. Dirks also serves as Trustee of other Fidelity® funds. Prior to his retirement in May 2003, Mr. Dirks was Chief Operating Officer and a member of the Board of The Depository Trust & Clearing Corporation (DTCC). He also served as President, Chief Operating Officer, and Board member of The Depository Trust Company (DTC) and President and Board member of the National Securities Clearing Corporation (NSCC). In addition, Mr. Dirks served as Chief Executive Officer and Board member of the Government Securities Clearing Corporation, Chief Executive Officer and Board member of the Mortgage-Backed Securities Clearing Corporation, as a Trustee and a member of the Finance Committee of Manhattan College (2005-2008), as a Trustee and a member of the Finance Committee of AHRC of Nassau County (2006-2008), as a member of the Independent Directors Council (IDC) Governing Council (2010-2015), and as a member of the Board of Directors for The Brookville Center for Children’s Services, Inc. (2009-2017). Mr. Dirks is a member of the Finance Committee (2016-present), Board of Directors (2017-present) and Board of Trustees (2018-present) and is Treasurer (2018-present) of the Asolo Repertory Theatre.

Donald F. Donahue (1950)

Year of Election or Appointment: 2018

Trustee

Mr. Donahue also serves as a Trustee of other Fidelity® funds. Mr. Donahue is President and Chief Executive Officer of Miranda Partners, LLC (risk consulting for the financial services industry, 2012-present). Previously, Mr. Donahue served as a Member of the Advisory Board of certain Fidelity® funds (2015-2018) and Chief Executive Officer (2006-2012), Chief Operating Officer (2003-2006), and Managing Director, Customer Marketing and Development (1999-2003) of The Depository Trust & Clearing Corporation (financial markets infrastructure). Mr. Donahue serves as a Member (2007-present) and Co-Chairman (2016-present) of the Board of Directors of United Way of New York, Member of the Board of Directors of NYC Leadership Academy (2012-present) and Member of the Board of Advisors of Ripple Labs, Inc. (financial services, 2015-present). He also served as Chairman (2010-2012) and Member of the Board of Directors (2012-2013) of Omgeo, LLC (financial services), Treasurer of United Way of New York (2012-2016), and Member of the Board of Directors of XBRL US (financial services non-profit, 2009-2012) and the International Securities Services Association (2009-2012).

Alan J. Lacy (1953)

Year of Election or Appointment: 2008

Trustee

Mr. Lacy also serves as Trustee of other Fidelity® funds. Mr. Lacy serves as a Director of Bristol-Myers Squibb Company (global pharmaceuticals, 2008-present). He is a Trustee of the California Chapter of The Nature Conservancy (2015-present) and a Director of the Center for Advanced Study in the Behavioral Sciences at Stanford University (2015-present). In addition, Mr. Lacy served as Senior Adviser (2007-2014) of Oak Hill Capital Partners, L.P. (private equity) and also served as Chief Executive Officer (2005) and Vice Chairman (2005-2006) of Sears Holdings Corporation (retail) and Chief Executive Officer and Chairman of the Board of Sears, Roebuck and Co. (retail, 2000-2005). Previously, Mr. Lacy served as Chairman (2014-2017) and a member (2010-2017) of the Board of Directors of Dave & Buster’s Entertainment, Inc. (restaurant and entertainment complexes), as Chairman (2008-2011) and a member (2006-2015) of the Board of Trustees of the National Parks Conservation Association, and as a member of the Board of Directors for The Hillman Companies, Inc. (hardware wholesalers, 2010-2014), Earth Fare, Inc. (retail grocery, 2010-2014), and The Western Union Company (global money transfer, 2006-2011).

Ned C. Lautenbach (1944)

Year of Election or Appointment: 2000

Trustee

Chairman of the Independent Trustees

Mr. Lautenbach also serves as Trustee of other Fidelity® funds. Mr. Lautenbach currently serves as Vice Chair of the Board of Governors, State University System of Florida (2013-present) and is a member of the Council on Foreign Relations (1994-present). He is also a member and has most recently served as Chairman of the Board of Directors of Artis-Naples (2012-present). Previously, Mr. Lautenbach served as a member and then Lead Director of the Board of Directors of Eaton Corporation (diversified industrial, 1997-2016). He was also a Partner and Advisory Partner at Clayton, Dubilier & Rice, LLC (private equity investment, 1998-2010), as well as a Director of Sony Corporation (2006-2007). In addition, Mr. Lautenbach also had a 30-year career with IBM (technology company) during which time he served as Senior Vice President and a member of the Corporate Executive Committee (1968-1998).

Joseph Mauriello (1944)

Year of Election or Appointment: 2008

Trustee

Mr. Mauriello also serves as Trustee of other Fidelity® funds. Prior to his retirement in January 2006, Mr. Mauriello served in numerous senior management positions including Deputy Chairman and Chief Operating Officer (2004-2005), and Vice Chairman of Financial Services (2002-2004) of KPMG LLP US (professional services, 1965-2005). Mr. Mauriello currently serves as a member of the Independent Directors Council (IDC) Governing Council (2015-present). Previously, Mr. Mauriello served as a member of the Board of Directors of XL Group plc. (global insurance and re-insurance, 2006-2018).

Cornelia M. Small (1944)

Year of Election or Appointment: 2005

Trustee

Ms. Small also serves as Trustee of other Fidelity® funds. Ms. Small is a member of the Board of Directors (2009-present) and Chair of the Investment Committee (2010-present) of the Teagle Foundation. Ms. Small also serves on the Investment Committee of the Berkshire Taconic Community Foundation (2008-present). Previously, Ms. Small served as Chairperson (2002-2008) and a member of the Investment Committee and Chairperson (2008-2012) and a member of the Board of Trustees of Smith College. In addition, Ms. Small served as Chief Investment Officer, Director of Global Equity Investments, and a member of the Board of Directors of Scudder, Stevens & Clark and Scudder Kemper Investments.

Garnett A. Smith (1947)

Year of Election or Appointment: 2018

Trustee

Mr. Smith also serves as Trustee of other Fidelity® funds. Prior to Mr. Smith's retirement, he served as Chairman and Chief Executive Officer of Inbrand Corp. (manufacturer of personal absorbent products, 1990-1997). He also served as President (1986-1990) of Inbrand Corp. Prior to his employment with Inbrand Corp., he was employed by a retail fabric chain and North Carolina National Bank. In addition, Mr. Smith served as a Member of the Advisory Board of certain Fidelity® funds (2012-2013) and as a board member of the Jackson Hole Land Trust (2009-2012).

David M. Thomas (1949)

Year of Election or Appointment: 2008

Trustee

Mr. Thomas also serves as Trustee of other Fidelity® funds. Mr. Thomas serves as Non-Executive Chairman of the Board of Directors of Fortune Brands Home and Security (home and security products, 2011-present), as a member of the Board of Directors (2004-present) and Presiding Director (2013-present) of Interpublic Group of Companies, Inc. (marketing communication), and as a member of the Board of Trustees of the University of Florida (2013-present). Previously, Mr. Thomas served as Executive Chairman (2005-2006) and Chairman and Chief Executive Officer (2000-2005) of IMS Health, Inc. (pharmaceutical and healthcare information solutions), and a Director of Fortune Brands, Inc. (consumer products, 2000-2011).

 + The information includes the Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to the Trustee's qualifications to serve as a Trustee, which led to the conclusion that the Trustee should serve as a Trustee for the fund. 

Advisory Board Members and Officers:

Correspondence intended for a Member of the Advisory Board (if any) may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.  Correspondence intended for an officer or Peter S. Lynch may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.  Officers appear below in alphabetical order. 

Name, Year of Birth; Principal Occupation

Vicki L. Fuller (1957)

Year of Election or Appointment: 2018

Member of the Advisory Board

Ms. Fuller also serves as Member of the Advisory Board of other Fidelity® funds. Ms. Fuller serves as a member of the Board of Directors, Audit Committee, and Nominating and Governance Committee of The Williams Companies, Inc. (natural gas infrastructure, 2018-present). Previously, Ms. Fuller served as the Chief Investment Officer of the New York State Common Retirement Fund (2012-2018) and held a variety of positions at AllianceBernstein L.P. (global asset management, 1985-2012), including Managing Director (2006-2012) and Senior Vice President and Senior Portfolio Manager (2001-2006).

Peter S. Lynch (1944)

Year of Election or Appointment: 2003

Member of the Advisory Board

Mr. Lynch also serves as Member of the Advisory Board of other Fidelity® funds. Mr. Lynch is Vice Chairman and a Director of FMR (investment adviser firm) and FMR Co., Inc. (investment adviser firm). In addition, Mr. Lynch serves as a Trustee of Boston College and as the Chairman of the Inner-City Scholarship Fund. Previously, Mr. Lynch served on the Special Olympics International Board of Directors (1997-2006).

William S. Stavropoulos (1939)

Year of Election or Appointment: 2018

Member of the Advisory Board

Mr. Stavropoulos also serves as Member of the Advisory Board of other Fidelity® funds. Mr. Stavropoulos serves as President and Founder of the Michigan Baseball Foundation, the Great Lakes Loons (2007-present). Mr. Stavropoulos is Chairman Emeritus of the Board of Directors of The Dow Chemical Company, where he previously served in numerous senior management positions, including President, CEO (1995-2000; 2002-2004), Chairman of the Executive Committee (2000-2006), and as a member of the Board of Directors (1990-2006). Currently, Mr. Stavropoulos is Chairman of the Board of Directors of Univar Inc. (global distributor of commodity and specialty chemicals), a Director of Teradata Corporation (data warehousing and technology solutions), and a member of the Advisory Board for Metalmark Capital LLC (private equity investment, 2005-present). Mr. Stavropoulos is an operating advisor to Clayton, Dubilier & Rice, LLC (private equity investment). In addition, Mr. Stavropoulos is a member of the University of Notre Dame Advisory Council for the College of Science, a Trustee of the Rollin L. Gerstacker Foundation, and a Director of Artis-Naples in Naples, Florida. Previously, Mr. Stavropoulos served as Trustee of certain Fidelity® funds (2001-2018) and as a Director of Chemical Financial Corporation (bank holding company, 1993-2012) and Tyco International, Ltd. (multinational manufacturing and services, 2007-2012).

Carol B. Tomé (1957)

Year of Election or Appointment: 2018

Member of the Advisory Board

Ms. Tomé also serves as Member of the Advisory Board of other Fidelity® funds. Ms. Tomé is Chief Financial Officer (2001-present) and Executive Vice President of Corporate Services (2007-present) of The Home Depot, Inc. (home improvement retailer) and a Director (2003-present) and Chair of the Audit Committee (2004-present) of United Parcel Service, Inc. (package delivery and supply chain management). Previously, Ms. Tomé served as Trustee of certain Fidelity® funds (2017), Senior Vice President of Finance and Accounting/Treasurer (2000-2007) and Vice President and Treasurer (1995-2000) of The Home Depot, Inc. and Chair of the Board (2010-2012), Vice Chair of the Board (2009 and 2013), and a Director (2008-2013) of the Federal Reserve Bank of Atlanta. Ms. Tomé is also a director or trustee of many community and professional organizations.

Michael E. Wiley (1950)

Year of Election or Appointment: 2018

Member of the Advisory Board

Mr. Wiley also serves as Trustee or Member of the Advisory Board of other Fidelity® funds. Mr. Wiley serves as a Director of High Point Resources (exploration and production, 2005-present). Previously, Mr. Wiley served as a Director of Andeavor Corporation (independent oil refiner and marketer, 2005-2018), a Director of Andeavor Logistics LP (natural resources logistics, 2015-2018), a Director of Post Oak Bank (privately-held bank, 2004-2018), a Director of Asia Pacific Exploration Consolidated (international oil and gas exploration and production, 2008-2013), a member of the Board of Trustees of the University of Tulsa (2000-2006; 2007-2010), a Senior Energy Advisor of Katzenbach Partners, LLC (consulting, 2006-2007), an Advisory Director of Riverstone Holdings (private investment), a Director of Spinnaker Exploration Company (exploration and production, 2001-2005) and Chairman, President, and CEO of Baker Hughes, Inc. (oilfield services, 2000-2004).

Elizabeth Paige Baumann (1968)

Year of Election or Appointment: 2017

Anti-Money Laundering (AML) Officer

Ms. Baumann also serves as AML Officer of other funds. She is Chief AML Officer (2012-present) and Senior Vice President (2014-present) of FMR LLC (diversified financial services company) and is an employee of Fidelity Investments. Previously, Ms. Baumann served as AML Officer of the funds (2012-2016), and Vice President (2007-2014) and Deputy Anti-Money Laundering Officer (2007-2012) of FMR LLC.

John J. Burke III (1964)

Year of Election or Appointment: 2018

Chief Financial Officer

Mr. Burke also serves as Chief Financial Officer of other funds. Mr. Burke serves as Head of Investment Operations for Fidelity Fund and Investment Operations (2018-present) and is an employee of Fidelity Investments (1998-present). Previously Mr. Burke served as head of Asset Management Investment Operations (2012-2018).

William C. Coffey (1969)

Year of Election or Appointment: 2018

Secretary and Chief Legal Officer (CLO)

Mr. Coffey also serves as Secretary and CLO of other funds. Mr. Coffey serves as CLO, Secretary, and Senior Vice President of Fidelity Management & Research Company and FMR Co., Inc. (investment adviser firms, 2018-present); Secretary of Fidelity SelectCo, LLC and Fidelity Investments Money Management, Inc. (investment adviser firms, 2018-present); and CLO of Fidelity Management & Research (Hong Kong) Limited, FMR Investment Management (UK) Limited, and Fidelity Management & Research (Japan) Limited (investment adviser firms, 2018-present). He is Senior Vice President and Deputy General Counsel of FMR LLC (diversified financial services company, 2010-present), and is an employee of Fidelity Investments. Previously, Mr. Coffey served as Assistant Secretary of certain funds (2009-2018) and as Vice President and Associate General Counsel of FMR LLC (2005-2009).

Timothy M. Cohen (1969)

Year of Election or Appointment: 2018

Vice President

Mr. Cohen also serves as Vice President of other funds. Mr. Cohen serves as Co-Head of Global Equity Research (2016-present), a Director of Fidelity Management & Research (Japan) Limited (investment adviser firm, 2016-present), and is an employee of Fidelity Investments. Previously, Mr. Cohen served as Chief Investment Officer - Equity and a Director of Fidelity Management & Research (U.K.) Inc. (investment adviser firm, 2013-2015) and as a Director of Fidelity Management & Research (Hong Kong) Limited (investment adviser firm, 2017).

Jonathan Davis (1968)

Year of Election or Appointment: 2010

Assistant Treasurer

Mr. Davis also serves as Assistant Treasurer of other funds. Mr. Davis serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments. Previously, Mr. Davis served as Vice President and Associate General Counsel of FMR LLC (diversified financial services company, 2003-2010).

Adrien E. Deberghes (1967)

Year of Election or Appointment: 2016

Assistant Treasurer

Mr. Deberghes also serves as an officer of other funds. He serves as Assistant Treasurer of FMR Capital, Inc. (2017-present), Executive Vice President of Fidelity Investments Money Management, Inc. (FIMM) (investment adviser firm, 2016-present), and is an employee of Fidelity Investments (2008-present). Previously, Mr. Deberghes served as President and Treasurer of certain Fidelity® funds (2013-2018). Prior to joining Fidelity Investments, Mr. Deberghes was Senior Vice President of Mutual Fund Administration at State Street Corporation (2007-2008), Senior Director of Mutual Fund Administration at Investors Bank & Trust (2005-2007), and Director of Finance for Dunkin' Brands (2000-2005). Previously, Mr. Deberghes served in other fund officer roles.

Laura M. Del Prato (1964)

Year of Election or Appointment: 2018

Assistant Treasurer

Ms. Del Prato also serves as an officer of other funds. Ms. Del Prato is an employee of Fidelity Investments (2017-present). Prior to joining Fidelity Investments, Ms. Del Prato served as a Managing Director and Treasurer of the JPMorgan Mutual Funds (2014-2017). Prior to JPMorgan, Ms. Del Prato served as a partner at Cohen Fund Audit Services (accounting firm, 2012-2013) and KPMG LLP (accounting firm, 2004-2012).

Colm A. Hogan (1973)

Year of Election or Appointment: 2016

Deputy Treasurer

Mr. Hogan also serves as an officer of other funds. Mr. Hogan serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments (2005-present). Previously, Mr. Hogan served as Assistant Treasurer of certain Fidelity® funds (2016-2018). 

Pamela R. Holding (1964)

Year of Election or Appointment: 2018

Vice President

Ms. Holding also serves as Vice President of other funds. Ms. Holding serves as Co-Head of Global Equity Research (2018-present) and is an employee of Fidelity Investments (2013-present).

Chris Maher (1972)

Year of Election or Appointment: 2013

Assistant Treasurer

Mr. Maher serves as Assistant Treasurer of other funds. Mr. Maher is Vice President of Valuation Oversight, serves as Assistant Treasurer of FMR Capital, Inc. (2017-present), and is an employee of Fidelity Investments. Previously, Mr. Maher served as Vice President of Asset Management Compliance (2013), Vice President of the Program Management Group of FMR (investment adviser firm, 2010-2013), and Vice President of Valuation Oversight (2008-2010).

Rieco E. Mello (1969)

Year of Election or Appointment: 2017

Assistant Treasurer

Mr. Mello also serves as Assistant Treasurer of other funds. Mr. Mello serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments (1995-present).

Kenneth B. Robins (1969)

Year of Election or Appointment: 2016

Chief Compliance Officer

Mr. Robins also serves as an officer of other funds. Mr. Robins serves as Compliance Officer of Fidelity Management & Research Company and FMR Co., Inc. (investment adviser firms, 2016-present) and is an employee of Fidelity Investments (2004-present). Previously, Mr. Robins served as Executive Vice President of Fidelity Investments Money Management, Inc. (investment adviser firm, 2013-2016) and served in other fund officer roles.

Stacie M. Smith (1974)

Year of Election or Appointment: 2016

President and Treasurer

Ms. Smith also serves as an officer of other funds. Ms. Smith serves as Assistant Treasurer of FMR Capital, Inc. (2017-present), is an employee of Fidelity Investments (2009-present), and has served in other fund officer roles. Prior to joining Fidelity Investments, Ms. Smith served as Senior Audit Manager of Ernst & Young LLP (accounting firm, 1996-2009). Previously, Ms. Smith served as Assistant Treasurer (2013-2018) and Deputy Treasurer (2013-2016) of certain Fidelity® funds.

Marc L. Spector (1972)

Year of Election or Appointment: 2016

Assistant Treasurer

Mr. Spector also serves as an officer of other funds. Mr. Spector serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments (2016-present). Prior to joining Fidelity Investments, Mr. Spector served as Director at the Siegfried Group (accounting firm, 2013-2016), and prior to Siegfried Group as audit senior manager at Deloitte & Touche (accounting firm, 2005-2013).

Shareholder Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs and (2) ongoing costs, including other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

The actual expense Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period (August 17, 2018 to October 31, 2018). The hypothetical expense Example is based on an investment of $1,000 invested for the one-half year period (May 1, 2018 to October 31, 2018).

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 under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's 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 Fund's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in 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. In addition, the Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's 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.

 Annualized Expense Ratio-A Beginning
Account Value
 		Ending
Account Value
October 31, 2018 		Expenses Paid
During Period 
Actual .01% $1,000.00 $943.00 $.02-B 
Hypothetical-C  $1,000.00 $1,025.16 $.05-D 

 A Annualized expense ratio reflects expenses net of applicable fee waivers.

 B Actual expenses are equal to the Fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 76/365 (to reflect the period August 17, 2018 to October 31, 2018).

 C 5% return per year before expenses

 D Hypothetical expenses are equal to the Fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).

Board Approval of Investment Advisory Contracts and Management Fees

Fidelity Series International Index Fund

On July 18, 2018, the Board of Trustees, including the Independent Trustees (together, the Board), voted to approve the management contract with Fidelity Management & Research Company (FMR) and the sub-advisory agreements (together, the Advisory Contracts) for the fund, including the fund's sub-advisory agreement with Geode Capital Management, LLC (Geode). FMR and the sub-advisers are collectively referred to herein as the Investment Advisers. The Board, assisted by the advice of fund counsel and Independent Trustees' counsel, considered a broad range of information.

Nature, Extent, and Quality of Services Provided.  The Board considered staffing as it relates to the fund, including the backgrounds of investment personnel of Fidelity and Geode, and also considered the fund's investment objective, strategies, and related investment philosophy, and the purpose of Series funds generally. The Board considered the structure of the investment personnel compensation program, and whether this structure, provides, appropriate incentives to act in the best interests of the fund.

Resources Dedicated to Investment Management and Support Services.  The Board reviewed the general qualifications and capabilities of Fidelity's and Geode's investment staffs, including their size, education, experience, and resources, as well as Fidelity's approach to recruiting, managing, and compensating investment personnel. The Board noted that Fidelity has continued to increase the resources devoted to non-U.S. offices, including expansion of Fidelity's global investment organization. Additionally, in its deliberations, the Board considered Fidelity's and Geode's trading, risk management, compliance, and technology and operations capabilities and resources, which are integral parts of the investment management process.

Administrative Services.  The Board considered the nature, extent, quality, and cost of advisory and administrative services to be performed by the Investment Advisers and their affiliates under the Advisory Contracts and under separate agreements covering transfer agency, pricing and bookkeeping, and securities lending services for the fund. The Board also considered the nature and extent of the supervision of third party service providers, principally custodians, subcustodians, and pricing vendors.

Investment Performance.  The fund is a new fund and therefore had no historical performance for the Board to review at the time it approved the fund's Advisory Contracts.

Based on its review, the Board concluded that the nature, extent, and quality of services to be provided to the fund under the Advisory Contracts should benefit the shareholders of the fund.

Competitiveness of Management Fee and Total Expense Ratio  .The Board considered that the fund will not pay FMR a management fee for investment advisory services. In reviewing the Advisory Contracts, the Board also considered the projected total expense ratio of the fund. The Board noted that FMR or an affiliate undertakes to pay all operating expenses of the fund, except transfer agent fees, 12b-1 fees, Independent Trustee fees and expenses, custodian fees and expenses, proxy and shareholder meeting expenses, interest, taxes, brokerage expenses, and extraordinary expenses (such as litigation expenses).

The Board also noted that FMR has contractually agreed to reimburse the fund to the extent that total operating expenses (excluding interest, certain taxes, certain securities lending costs, brokerage commissions, fees and expenses of the Independent Trustees, proxy and shareholder meeting expenses, extraordinary expenses, and acquired fund fees and expenses, if any), as a percentage of its average net assets exceed, 0.014% through December 31, 2019.

Based on its review, the Board considered that the fund will not pay a management fee and concluded that the fund's projected total expense ratio was reasonable in light of the services that the fund and its shareholders will receive and the other factors considered.

Costs of the Services and Profitability.  The fund is a new fund and therefore no revenue, cost, or profitability data was available for the Board to review in respect of the fund at the time it approved the Advisory Contracts. In connection with its future renewal of the fund's Advisory Contracts, the Board will consider the level of Fidelity's profits in respect of all the Fidelity funds.

Economies of Scale.  The Board concluded that because the fund will pay no advisory fees and FMR or an affiliate will bear all expenses of the fund, with limited exceptions, economies of scale cannot be realized by the funds.

Additional Information Requested by the Board.  In order to develop fully the factual basis for consideration of the Advisory Contracts, the Board received information explaining that the fund is offered exclusively to other Fidelity funds, which use the fund to gain exposure to a specific type of investment. The Board also noted that those Fidelity funds investing in the fund will benefit from investing in one centralized fund as the fund may deliver more uniform asset class performance and offer additional opportunities to generate returns and diversify the investing funds' equity allocations.

Based on its evaluation of all of the conclusions noted above, and after considering all factors it believed relevant, the Board concluded that the advisory and sub-advisory fee structures are fair and reasonable, and that the fund's Advisory Contracts should be approved.





Fidelity Investments

Corporate Headquarters

245 Summer St.

Boston, MA 02210

www.fidelity.com

IIF-ANN-1218
1.9891249.100

Fidelity ZERO℠ Extended Market Index Fund

Fidelity ZERO℠ International Index Fund

Fidelity ZERO℠ Large Cap Index Fund

Fidelity ZERO℠ Total Market Index Fund



Annual Report

October 31, 2018



Fidelity Investments


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

Report of Independent Registered Public Accounting Firm

Trustees and Officers - Fidelity Concord Street Trust

Trustees and Officers - Fidelity Salem Street Trust

Shareholder Expense Example

Distributions

Board Approval of Investment Advisory Contracts and Management Fees


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.

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Fidelity ZERO℠ Extended Market Index Fund

Investment Summary (Unaudited)

Top Ten Stocks as of October 31, 2018

 % of fund's net assets 
lululemon athletica, Inc. 0.4 
Wellcare Health Plans, Inc. 0.3 
Burlington Stores, Inc. 0.3 
Fortinet, Inc. 0.3 
HollyFrontier Corp. 0.3 
Advance Auto Parts, Inc. 0.3 
Hormel Foods Corp. 0.3 
Tractor Supply Co. 0.3 
Chipotle Mexican Grill, Inc. 0.3 
NRG Energy, Inc. 0.3 
 3.1 

Top Market Sectors as of October 31, 2018

 % of fund's net assets 
Financials 15.0 
Industrials 14.9 
Information Technology 14.2 
Consumer Discretionary 13.7 
Health Care 11.3 
Real Estate 9.8 
Materials 5.1 
Utilities 4.7 
Energy 4.0 
Communication Services 3.7 

Asset Allocation (% of fund's net assets)

As of October 31, 2018* 
   Stocks and Equity Futures 100.0% 


 * Foreign investments - 5.5%

Fidelity ZERO℠ Extended Market Index Fund

Schedule of Investments October 31, 2018

Showing Percentage of Net Assets

Common Stocks - 99.7%   
 Shares Value 
COMMUNICATION SERVICES - 3.7%   
Diversified Telecommunication Services - 0.3%   
Atlantic Tele-Network, Inc. 178 $15,039 
Cincinnati Bell, Inc. (a) 731 10,373 
Cogent Communications Group, Inc. 698 36,282 
Consolidated Communications Holdings, Inc. (b) 887 11,105 
Frontier Communications Corp. (b) 1,363 6,556 
Globalstar, Inc. (a) 4,526 1,574 
IDT Corp. Class B 215 1,514 
Intelsat SA (a) 680 17,721 
Iridium Communications, Inc. (a) 1,393 27,595 
ORBCOMM, Inc. (a) 1,162 11,074 
Vonage Holdings Corp. (a) 3,324 44,076 
WideOpenWest, Inc. (a) 352 3,428 
Windstream Holdings, Inc. (a) 273 1,125 
Zayo Group Holdings, Inc. (a) 1,682 50,258 
  237,720 
Entertainment - 0.7%   
AMC Entertainment Holdings, Inc. Class A (b) 932 17,950 
Cinemark Holdings, Inc. 1,829 76,032 
Glu Mobile, Inc. (a) 1,741 12,274 
Lions Gate Entertainment Corp.:   
Class A 1,003 19,217 
Class B 1,897 33,748 
Live Nation Entertainment, Inc. (a) 2,284 119,453 
Marcus Corp. 328 12,799 
Pandora Media, Inc. (a) 3,966 33,711 
The Madison Square Garden Co. (a) 252 69,708 
World Wrestling Entertainment, Inc. Class A 664 48,200 
Zynga, Inc. (a) 13,425 48,867 
  491,959 
Interactive Media & Services - 0.6%   
Care.com, Inc. (a) 248 4,365 
Liberty TripAdvisor Holdings, Inc. (a) 1,252 18,054 
Match Group, Inc. (a)(b) 772 39,928 
MeetMe, Inc. (a) 740 3,263 
QuinStreet, Inc. (a) 632 10,049 
Snap, Inc. Class A (a)(b) 3,809 25,177 
TripAdvisor, Inc. (a) 1,974 102,924 
TrueCar, Inc. (a) 962 10,948 
XO Group, Inc. (a) 433 14,986 
Yelp, Inc. (a) 1,028 44,019 
Zillow Group, Inc.:   
Class A (a) 774 31,246 
Class C (a)(b) 1,828 73,595 
  378,554 
Media - 1.8%   
AMC Networks, Inc. Class A (a) 1,020 59,752 
Cable One, Inc. 81 72,555 
Discovery Communications, Inc.:   
Class A (a)(b) 2,658 86,093 
Class C (non-vtg.) (a) 3,508 102,819 
E.W. Scripps Co. Class A 961 16,164 
Entercom Communications Corp. Class A 376 2,440 
Entravision Communication Corp. Class A 1,166 5,760 
Fluent, Inc. (a) 565 1,367 
Gannett Co., Inc. 2,031 19,701 
Gray Television, Inc. (a) 1,128 19,526 
Hemisphere Media Group, Inc. (a) 250 3,368 
Interpublic Group of Companies, Inc. 6,709 155,380 
John Wiley & Sons, Inc. Class A 779 42,253 
Loral Space & Communications Ltd. (a) 217 9,691 
Meredith Corp. (b) 629 32,431 
MSG Network, Inc. Class A (a) 1,055 26,955 
National CineMedia, Inc. 1,098 9,827 
New Media Investment Group, Inc. 875 12,294 
News Corp.:   
Class A 6,591 86,935 
Class B 2,076 27,694 
Nexstar Broadcasting Group, Inc. Class A 753 56,392 
Scholastic Corp. 465 20,172 
Sinclair Broadcast Group, Inc. Class A 1,065 30,502 
Sirius XM Holdings, Inc. 25,374 152,751 
Tegna, Inc. 5,914 68,248 
The New York Times Co. Class A 2,113 55,783 
Tribune Media Co. Class A 1,269 48,235 
tronc, Inc. (a) 379 5,719 
  1,230,807 
Wireless Telecommunication Services - 0.3%   
Boingo Wireless, Inc. (a) 658 20,615 
Gogo, Inc. (a)(b) 864 4,942 
Shenandoah Telecommunications Co. 790 30,036 
Spok Holdings, Inc. 378 5,300 
Sprint Corp. (a) 10,943 66,971 
Telephone & Data Systems, Inc. 1,617 49,852 
U.S. Cellular Corp. (a) 229 10,939 
  188,655 
TOTAL COMMUNICATION SERVICES  2,527,695 
CONSUMER DISCRETIONARY - 13.7%   
Auto Components - 1.0%   
Adient PLC (b) 1,619 49,250 
American Axle & Manufacturing Holdings, Inc. (a) 1,327 20,131 
Cooper Tire & Rubber Co. 909 28,079 
Cooper-Standard Holding, Inc. (a) 306 28,351 
Dana Holding Corp. 2,499 38,909 
Delphi Technologies PLC 1,544 33,103 
Dorman Products, Inc. (a) 524 41,401 
Fox Factory Holding Corp. (a) 496 26,650 
Gentex Corp. 4,947 104,134 
Gentherm, Inc. (a) 624 27,231 
Hertz Global Holdings, Inc. (a) 1,270 17,463 
Horizon Global Corp. (a) 311 1,745 
LCI Industries 426 29,543 
Modine Manufacturing Co. (a) 870 11,319 
Motorcar Parts of America, Inc. (a)(b) 333 7,053 
Shiloh Industries, Inc. (a) 153 1,391 
Standard Motor Products, Inc. 348 18,830 
Stoneridge, Inc. (a) 455 11,562 
Superior Industries International, Inc. 405 3,981 
Tenneco, Inc. 957 32,950 
The Goodyear Tire & Rubber Co. 4,259 89,695 
Tower International, Inc. 356 10,570 
Visteon Corp. (a) 590 46,634 
  679,975 
Automobiles - 0.3%   
Harley-Davidson, Inc. 2,906 111,067 
REV Group, Inc. 213 2,324 
Thor Industries, Inc. 828 57,662 
Winnebago Industries, Inc. 461 12,705 
  183,758 
Distributors - 0.2%   
Core-Mark Holding Co., Inc. 801 30,766 
Pool Corp. 714 104,066 
  134,832 
Diversified Consumer Services - 1.2%   
Adtalem Global Education, Inc. (a) 987 49,972 
American Public Education, Inc. (a) 287 9,394 
Bridgepoint Education, Inc. (a) 457 4,387 
Bright Horizons Family Solutions, Inc. (a) 756 86,872 
Career Education Corp. (a) 1,122 16,134 
Carriage Services, Inc. 237 4,517 
Chegg, Inc. (a) 1,013 27,635 
Frontdoor, Inc. (a) 1,150 39,158 
Graham Holdings Co. 80 46,484 
Grand Canyon Education, Inc. (a) 817 101,880 
H&R Block, Inc. 3,579 94,987 
Houghton Mifflin Harcourt Co. (a) 1,768 11,846 
K12, Inc. (a) 599 12,825 
Laureate Education, Inc. Class A (a) 617 9,187 
Regis Corp. (a) 600 10,104 
Service Corp. International 3,278 135,939 
ServiceMaster Global Holdings, Inc. (a) 2,325 99,696 
Sotheby's Class A (Ltd. vtg.) (a) 803 33,726 
Strategic Education, Inc. 179 22,522 
Weight Watchers International, Inc. (a) 476 31,464 
  848,729 
Hotels, Restaurants & Leisure - 2.6%   
Belmond Ltd. Class A (a) 1,465 25,081 
Biglari Holdings, Inc. (a) 3 2,250 
Biglari Holdings, Inc. (a) 8 1,140 
BJ's Restaurants, Inc. 337 20,618 
Bloomin' Brands, Inc. 1,831 36,528 
Bojangles', Inc. (a) 262 4,142 
Boyd Gaming Corp. 1,425 37,848 
Brinker International, Inc. 863 37,411 
Caesars Entertainment Corp. (a)(b) 916 7,868 
Carrols Restaurant Group, Inc. (a) 600 7,896 
Chipotle Mexican Grill, Inc. (a) 429 197,482 
Choice Hotels International, Inc. 622 45,655 
Churchill Downs, Inc. 213 53,167 
Chuy's Holdings, Inc. (a) 308 7,506 
Cracker Barrel Old Country Store, Inc. (b) 416 66,011 
Dave & Buster's Entertainment, Inc. 648 38,588 
Del Frisco's Restaurant Group, Inc. (a) 375 2,531 
Del Taco Restaurants, Inc. (a) 591 6,442 
Denny's Corp. (a) 1,252 21,722 
Dine Brands Global, Inc. 292 23,664 
Drive Shack, Inc. (a) 972 5,190 
Dunkin' Brands Group, Inc. 1,584 114,935 
El Pollo Loco Holdings, Inc. (a) 345 4,316 
Eldorado Resorts, Inc. (a)(b) 369 13,469 
Extended Stay America, Inc. unit 1,943 31,632 
Fiesta Restaurant Group, Inc. (a) 465 12,002 
Golden Entertainment, Inc. (a) 240 4,361 
Habit Restaurants, Inc. Class A (a) 262 3,327 
Hilton Grand Vacations, Inc. (a) 995 26,736 
Hyatt Hotels Corp. Class A 654 45,257 
International Speedway Corp. Class A 451 16,917 
Jack in the Box, Inc. 562 44,359 
Marriott Vacations Worldwide Corp. 424 37,520 
Monarch Casino & Resort, Inc. (a) 202 7,832 
Papa John's International, Inc. 462 25,197 
Penn National Gaming, Inc. (a) 1,316 31,952 
Planet Fitness, Inc. (a) 868 42,610 
Playa Hotels & Resorts NV (a) 966 8,298 
PlayAGS, Inc. (a) 158 3,832 
Potbelly Corp. (a) 401 4,684 
RCI Hospitality Holdings, Inc. 130 3,403 
Red Robin Gourmet Burgers, Inc. (a) 228 6,886 
Red Rock Resorts, Inc. 499 11,547 
Ruth's Hospitality Group, Inc. 505 13,650 
Scientific Games Corp. Class A (a) 886 19,722 
SeaWorld Entertainment, Inc. (a) 1,156 30,195 
Shake Shack, Inc. Class A (a) 312 16,502 
Six Flags Entertainment Corp. 1,479 79,659 
Sonic Corp. 791 34,234 
Texas Roadhouse, Inc. Class A 1,109 67,050 
The Cheesecake Factory, Inc. (b) 749 36,207 
U.S. Foods Holding Corp. (a) 1,523 44,426 
Vail Resorts, Inc. 689 173,159 
Wendy's Co. 3,473 59,875 
Wingstop, Inc. 498 31,185 
Zoe's Kitchen, Inc. (a) 306 3,892 
  1,759,568 
Household Durables - 1.3%   
Beazer Homes U.S.A., Inc. (a) 505 4,449 
Cavco Industries, Inc. (a) 147 29,490 
Century Communities, Inc. (a) 270 5,729 
Ethan Allen Interiors, Inc. 461 8,824 
Flexsteel Industries, Inc. 104 2,644 
Garmin Ltd. 1,976 130,732 
GoPro, Inc. Class A (a)(b) 1,653 10,860 
Green Brick Partners, Inc. (a) 360 3,384 
Hamilton Beach Brands Holding Co. Class A 117 2,717 
Helen of Troy Ltd. (a) 482 59,826 
Hooker Furniture Corp. 184 5,386 
Hovnanian Enterprises, Inc. Class A (a) 1,756 2,564 
Installed Building Products, Inc. (a) 356 10,844 
iRobot Corp. (a)(b) 470 41,440 
KB Home 1,438 28,717 
La-Z-Boy, Inc. 842 23,408 
Leggett & Platt, Inc. 2,314 84,021 
LGI Homes, Inc. (a)(b) 289 12,366 
Libbey, Inc. 358 2,699 
M.D.C. Holdings, Inc. 748 21,019 
M/I Homes, Inc. (a) 410 9,910 
Meritage Homes Corp. (a) 658 24,511 
PulteGroup, Inc. 5,149 126,511 
Roku, Inc. Class A (a) 315 17,514 
Taylor Morrison Home Corp. (a) 739 12,223 
Tempur Sealy International, Inc. (a) 874 40,388 
Toll Brothers, Inc. 2,584 86,977 
TopBuild Corp. (a) 663 30,246 
TRI Pointe Homes, Inc. (a) 2,514 29,917 
Tupperware Brands Corp. 878 30,818 
Universal Electronics, Inc. (a) 257 8,036 
Vuzix Corp. (a) 230 1,398 
William Lyon Homes, Inc. (a) 372 5,044 
Zagg, Inc. (a) 455 5,510 
  920,122 
Internet & Direct Marketing Retail - 0.7%   
1-800-FLOWERS.com, Inc. Class A (a) 509 5,319 
Blue Apron Holdings, Inc. Class A (a) 364 517 
Duluth Holdings, Inc. (a) 165 5,070 
Etsy, Inc. (a) 1,659 70,541 
FTD Companies, Inc. (a) 270 535 
Groupon, Inc. (a) 6,988 22,851 
GrubHub, Inc. (a) 1,478 137,070 
Lands' End, Inc. (a) 240 3,914 
Liberty Expedia Holdings, Inc. (a) 938 40,728 
NutriSystem, Inc. 505 17,958 
Overstock.com, Inc. (a) 283 5,694 
PetMed Express, Inc. 358 10,003 
Quotient Technology, Inc. (a) 1,172 15,084 
Shutterfly, Inc. (a) 587 29,350 
Shutterstock, Inc. 339 13,858 
Stamps.com, Inc. (a) 275 55,597 
Wayfair LLC Class A (a) 522 57,571 
  491,660 
Leisure Products - 0.5%   
American Outdoor Brands Corp. (a) 967 13,229 
Brunswick Corp. 1,552 80,688 
Callaway Golf Co. 1,634 34,968 
Johnson Outdoors, Inc. Class A 104 7,832 
Malibu Boats, Inc. Class A (a) 306 12,301 
Mattel, Inc. (a)(b) 5,960 80,937 
MCBC Holdings, Inc. (a) 287 8,518 
Nautilus, Inc. (a) 529 6,470 
Polaris Industries, Inc. 1,032 91,827 
Sturm, Ruger & Co., Inc. 323 19,183 
Vista Outdoor, Inc. (a) 1,020 12,750 
  368,703 
Media - 0.1%   
Altice U.S.A., Inc. Class A 1,115 18,186 
Liberty Latin America Ltd. (a) 2,195 39,532 
Liberty Latin America Ltd. Class A (a) 628 11,291 
  69,009 
Multiline Retail - 0.7%   
Big Lots, Inc. 773 32,095 
Dillard's, Inc. Class A (b) 450 31,689 
Fred's, Inc. Class A (a) 504 1,381 
JC Penney Corp., Inc. (a)(b) 5,399 7,937 
Macy's, Inc. 5,257 180,263 
Nordstrom, Inc. 2,005 131,869 
Ollie's Bargain Outlet Holdings, Inc. (a) 820 76,178 
  461,412 
Specialty Retail - 3.3%   
Aaron's, Inc. Class A 1,098 51,749 
Abercrombie & Fitch Co. Class A 1,175 23,148 
Advance Auto Parts, Inc. 1,274 203,534 
America's Car Mart, Inc. (a) 137 10,261 
American Eagle Outfitters, Inc. 2,956 68,165 
Armstrong Flooring, Inc. (a) 442 6,873 
Asbury Automotive Group, Inc. (a) 343 22,329 
Ascena Retail Group, Inc. (a) 2,827 10,884 
AutoNation, Inc. (a) 1,137 46,026 
Barnes & Noble Education, Inc. (a) 689 3,934 
Barnes & Noble, Inc. 978 6,191 
Bed Bath & Beyond, Inc. (b) 2,638 36,246 
Big 5 Sporting Goods Corp. 279 979 
Boot Barn Holdings, Inc. (a) 201 4,961 
Burlington Stores, Inc. (a) 1,218 208,875 
Caleres, Inc. 756 25,855 
Camping World Holdings, Inc. 212 3,636 
Cars.com, Inc. (a) 1,243 32,455 
Chico's FAS, Inc. 2,166 16,613 
Citi Trends, Inc. 283 7,168 
Conn's, Inc. (a) 411 11,418 
Dick's Sporting Goods, Inc. 1,521 53,798 
DSW, Inc. Class A 1,324 35,152 
Express, Inc. (a) 1,332 11,735 
Five Below, Inc. (a) 947 107,788 
Floor & Decor Holdings, Inc. Class A (a)(b) 347 8,876 
Foot Locker, Inc. 2,142 100,974 
Francesca's Holdings Corp. (a) 643 1,955 
GameStop Corp. Class A (b) 1,766 25,784 
Gap, Inc. 3,789 103,440 
Genesco, Inc. (a) 347 14,848 
GNC Holdings, Inc. Class A (a)(b) 1,217 4,479 
Group 1 Automotive, Inc. 342 19,747 
Guess?, Inc. 1,071 22,748 
Haverty Furniture Companies, Inc. 352 7,139 
Hibbett Sports, Inc. (a) 354 6,184 
Kirkland's, Inc. (a) 246 2,487 
Lithia Motors, Inc. Class A (sub. vtg.) 398 35,454 
Lumber Liquidators Holdings, Inc. (a)(b) 456 5,454 
MarineMax, Inc. (a) 435 9,901 
Michaels Companies, Inc. (a)(b) 1,997 31,652 
Monro, Inc. 559 41,590 
Murphy U.S.A., Inc. (a) 627 50,555 
Office Depot, Inc. 9,147 23,416 
Party City Holdco, Inc. (a) 380 3,979 
Penske Automotive Group, Inc. 647 28,714 
Pier 1 Imports, Inc. 1,119 1,779 
Rent-A-Center, Inc. (a) 915 13,039 
RH (a)(b) 662 76,600 
Sally Beauty Holdings, Inc. (a) 2,497 44,472 
Shoe Carnival, Inc. 232 9,449 
Signet Jewelers Ltd. 1,202 67,372 
Sleep Number Corp. (a) 769 27,969 
Sonic Automotive, Inc. Class A (sub. vtg.) 456 8,263 
Sportsman's Warehouse Holdings, Inc. (a) 430 2,163 
Tailored Brands, Inc. 834 17,522 
The Buckle, Inc. (b) 490 9,996 
The Cato Corp. Class A (sub. vtg.) 438 8,445 
The Children's Place Retail Stores, Inc. 313 46,762 
Tile Shop Holdings, Inc. 530 3,445 
Tilly's, Inc. 203 3,601 
Tractor Supply Co. 2,167 199,126 
Urban Outfitters, Inc. (a) 1,528 60,295 
Vitamin Shoppe, Inc. (a) 381 2,960 
Williams-Sonoma, Inc. 1,407 83,548 
Zumiez, Inc. (a) 302 7,025 
  2,252,980 
Textiles, Apparel & Luxury Goods - 1.8%   
Carter's, Inc. 853 81,871 
Columbia Sportswear Co. 467 42,161 
Crocs, Inc. (a) 1,262 25,921 
Deckers Outdoor Corp. (a) 554 70,452 
Emerald Expositions Events, Inc. 228 3,333 
Fossil Group, Inc. (a) 727 15,783 
G-III Apparel Group Ltd. (a) 760 30,294 
Hanesbrands, Inc. 6,528 112,020 
J.Jill, Inc. (a) 207 1,045 
lululemon athletica, Inc. (a) 1,844 259,476 
Movado Group, Inc. 266 10,244 
Oxford Industries, Inc. 255 22,690 
PetIQ, Inc. Class A (a) 109 3,451 
Ralph Lauren Corp. 972 125,981 
Samsonite International SA 23,700 68,000 
Skechers U.S.A., Inc. Class A (sub. vtg.) (a) 2,305 65,854 
Steven Madden Ltd. 1,416 44,278 
Stitch Fix, Inc. (a)(b) 140 3,690 
Under Armour, Inc.:   
Class A (sub. vtg.) (a)(b) 3,177 70,243 
Class C (non-vtg.) (a)(b) 3,185 63,159 
Unifi, Inc. (a) 277 6,341 
Vera Bradley, Inc. (a) 328 4,326 
Wolverine World Wide, Inc. 1,704 59,930 
  1,190,543 
TOTAL CONSUMER DISCRETIONARY  9,361,291 
CONSUMER STAPLES - 3.3%   
Beverages - 0.2%   
Boston Beer Co., Inc. Class A (a) 156 47,937 
Coca-Cola Bottling Co. Consolidated 77 13,293 
Craft Brew Alliance, Inc. (a) 160 2,934 
MGP Ingredients, Inc. (b) 211 15,017 
National Beverage Corp. (a) 199 18,398 
Primo Water Corp. (a) 352 5,868 
  103,447 
Food & Staples Retailing - 0.5%   
Andersons, Inc. 448 16,128 
Casey's General Stores, Inc. 677 85,376 
Chefs' Warehouse Holdings (a) 322 10,829 
Ingles Markets, Inc. Class A 247 8,136 
Performance Food Group Co. (a) 969 28,411 
PriceSmart, Inc. 386 27,078 
Rite Aid Corp. (a)(b) 18,297 21,956 
Smart & Final Stores, Inc. (a) 396 2,000 
SpartanNash Co. 630 11,246 
Sprouts Farmers Market LLC (a) 2,314 62,223 
United Natural Foods, Inc. (a) 859 18,666 
Weis Markets, Inc. 276 12,737 
Welbilt, Inc. (a) 2,402 44,965 
  349,751 
Food Products - 1.7%   
B&G Foods, Inc. Class A (b) 1,154 30,050 
Cal-Maine Foods, Inc. 503 24,481 
Calavo Growers, Inc. 266 25,802 
Campbell Soup Co. (b) 3,320 124,201 
Darling International, Inc. (a) 2,847 58,819 
Dean Foods Co. 1,538 12,289 
Farmer Brothers Co. (a) 199 4,798 
Flowers Foods, Inc. 3,156 60,942 
Fresh Del Monte Produce, Inc. 576 19,025 
Freshpet, Inc. (a) 331 12,611 
Hormel Foods Corp. 4,638 202,402 
Hostess Brands, Inc. Class A (a) 1,395 14,508 
J&J Snack Foods Corp. 260 40,602 
John B. Sanfilippo & Son, Inc. 162 10,216 
Lamb Weston Holdings, Inc. 2,393 187,037 
Lancaster Colony Corp. 336 57,584 
Pilgrim's Pride Corp. (a) 1,007 17,784 
Post Holdings, Inc. (a) 1,118 98,854 
Sanderson Farms, Inc. 345 33,945 
Seaboard Corp. 5 19,325 
The Hain Celestial Group, Inc. (a) 1,759 43,764 
Tootsie Roll Industries, Inc. 405 12,786 
TreeHouse Foods, Inc. (a) 982 44,740 
  1,156,565 
Household Products - 0.2%   
Central Garden & Pet Co. (a) 213 6,918 
Central Garden & Pet Co. Class A (non-vtg.) (a) 545 16,159 
Energizer Holdings, Inc. 1,070 62,884 
Spectrum Brands Holdings, Inc. 381 24,746 
WD-40 Co. 246 41,102 
  151,809 
Personal Products - 0.6%   
Avon Products, Inc. (a) 7,329 14,365 
Coty, Inc. Class A 8,172 86,215 
Edgewell Personal Care Co. (a) 1,008 48,364 
elf Beauty, Inc. (a)(b) 288 3,056 
Herbalife Nutrition Ltd. (a) 2,409 128,303 
Inter Parfums, Inc. 299 17,638 
MediFast, Inc. 193 40,854 
Natural Health Trends Corp. 108 2,456 
Nu Skin Enterprises, Inc. Class A 886 62,215 
Revlon, Inc. (a) 205 4,305 
USANA Health Sciences, Inc. (a) 179 20,947 
  428,718 
Tobacco - 0.1%   
22nd Century Group, Inc. (a)(b) 1,639 3,966 
Universal Corp. 427 28,976 
Vector Group Ltd. 1,888 25,526 
  58,468 
TOTAL CONSUMER STAPLES  2,248,758 
ENERGY - 4.0%   
Energy Equipment & Services - 1.1%   
Archrock, Inc. 1,250 12,825 
Basic Energy Services, Inc. (a) 299 2,323 
Bristow Group, Inc. (a) 564 6,210 
C&J Energy Services, Inc. (a) 1,103 20,714 
Carbo Ceramics, Inc. (a)(b) 347 1,676 
Core Laboratories NV 764 65,123 
Diamond Offshore Drilling, Inc. (a)(b) 1,109 15,726 
Dril-Quip, Inc. (a) 648 27,579 
Ensco PLC Class A 5,254 37,514 
Exterran Corp. (a) 567 11,845 
Forum Energy Technologies, Inc. (a) 1,280 11,469 
Frank's International NV (a) 742 5,268 
FTS International, Inc. (a) 350 4,484 
Helix Energy Solutions Group, Inc. (a) 2,301 19,605 
Helmerich & Payne, Inc. 1,870 116,482 
Hornbeck Offshore Services, Inc. (a) 462 1,455 
Key Energy Services, Inc. (a) 128 1,158 
KLX Energy Services Holdings, Inc. (a) 368 10,632 
Mammoth Energy Services, Inc. 122 3,045 
Matrix Service Co. (a) 476 9,677 
McDermott International, Inc. (a) 1,385 10,706 
Nabors Industries Ltd. 4,904 24,373 
NCS Multistage Holdings, Inc. (a) 167 1,887 
Newpark Resources, Inc. (a) 1,520 12,479 
Noble Corp. (a) 4,204 21,104 
Oceaneering International, Inc. (a) 1,703 32,255 
Oil States International, Inc. (a) 907 20,199 
Patterson-UTI Energy, Inc. 2,845 47,341 
Pioneer Energy Services Corp. (a) 1,366 4,057 
Rowan Companies PLC (a) 2,179 34,668 
RPC, Inc. 1,031 15,341 
SEACOR Holdings, Inc. (a) 277 13,293 
Smart Sand, Inc. (a) 350 970 
Solaris Oilfield Infrastructure, Inc. Class A (a) 167 2,204 
Superior Energy Services, Inc. (a) 2,632 20,609 
TETRA Technologies, Inc. (a) 2,085 6,192 
Transocean Ltd. (United States) (a)(b) 6,736 74,163 
U.S. Silica Holdings, Inc. (b) 1,239 17,346 
Unit Corp. (a) 876 20,262 
Weatherford International PLC (a)(b) 16,440 22,194 
  786,453 
Oil, Gas & Consumable Fuels - 2.9%   
Abraxas Petroleum Corp. (a) 2,645 4,867 
Antero Resources Corp. (a) 2,508 39,852 
Approach Resources, Inc. (a) 791 1,321 
Arch Coal, Inc. 427 40,949 
Ardmore Shipping Corp. (a) 422 2,726 
Bonanza Creek Energy, Inc. (a) 367 9,450 
California Resources Corp. (a) 716 22,439 
Callon Petroleum Co. (a) 3,496 34,855 
Carrizo Oil & Gas, Inc. (a) 1,054 19,193 
Centennial Resource Development, Inc. Class A (a) 2,976 57,020 
Chesapeake Energy Corp. (a)(b) 12,901 45,283 
Clean Energy Fuels Corp. (a) 1,519 3,357 
Cloud Peak Energy, Inc. (a) 999 1,708 
CNX Resources Corp. (a) 3,727 58,328 
CONSOL Energy, Inc. (a) 436 17,370 
Contango Oil & Gas Co. (a) 329 1,661 
Continental Resources, Inc. (a) 1,489 78,441 
CVR Energy, Inc. 266 11,438 
Delek U.S. Holdings, Inc. 955 35,068 
Denbury Resources, Inc. (a) 6,898 23,798 
Eclipse Resources Corp. (a) 1,038 1,183 
Energen Corp. (a) 1,678 120,766 
EP Energy Corp. (a) 551 992 
Extraction Oil & Gas, Inc. (a) 741 5,921 
Green Plains, Inc. 625 10,650 
Gulfport Energy Corp. (a) 2,689 24,497 
Halcon Resources Corp. (a) 2,635 8,748 
Highpoint Resources, Inc. (a) 1,211 4,505 
HollyFrontier Corp. 3,036 204,748 
International Seaways, Inc. (a) 208 4,474 
Kosmos Energy Ltd. (a) 3,179 20,632 
Laredo Petroleum, Inc. (a) 2,450 12,838 
Matador Resources Co. (a) 1,605 46,288 
Midstates Petroleum Co., Inc. (a) 398 2,870 
Murphy Oil Corp. 2,800 89,208 
NACCO Industries, Inc. Class A 63 2,176 
Newfield Exploration Co. (a) 3,422 69,124 
Nine Energy Service, Inc. (a) 113 4,184 
Oasis Petroleum, Inc. (a) 4,106 41,306 
Overseas Shipholding Group, Inc. (a) 553 1,736 
Pacific Ethanol, Inc. (a) 629 1,032 
Par Pacific Holdings, Inc. (a) 555 9,812 
Parsley Energy, Inc. Class A (a) 3,836 89,839 
PBF Energy, Inc. Class A 1,884 78,845 
PDC Energy, Inc. (a) 969 41,134 
Peabody Energy Corp. 1,807 64,058 
Penn Virginia Corp. (a) 226 15,544 
QEP Resources, Inc. (a) 4,158 37,048 
Range Resources Corp. 3,203 50,768 
Renewable Energy Group, Inc. (a) 590 18,337 
Resolute Energy Corp. (a)(b) 348 9,685 
Rex American Resources Corp. (a) 96 7,120 
Ring Energy, Inc. (a) 679 4,841 
Sanchez Energy Corp. (a)(b) 980 1,627 
SandRidge Energy, Inc. (a) 299 2,676 
SemGroup Corp. Class A 935 17,288 
SM Energy Co. 1,675 40,770 
Southwestern Energy Co. (a) 8,519 45,491 
SRC Energy, Inc. (a) 3,488 24,695 
Talos Energy, Inc. (a) 355 9,251 
Teekay Corp. 813 5,390 
Teekay Tankers Ltd. 1,884 2,091 
Tellurian, Inc. (a)(b) 1,104 8,832 
Ultra Petroleum Corp. (a) 2,883 3,460 
Uranium Energy Corp. (a)(b) 1,932 2,570 
W&T Offshore, Inc. (a) 1,599 10,777 
Whiting Petroleum Corp. (a) 1,231 45,916 
WildHorse Resource Development Corp. (a) 494 10,478 
World Fuel Services Corp. 1,220 39,040 
WPX Energy, Inc. (a) 6,737 108,061 
  1,992,446 
TOTAL ENERGY  2,778,899 
FINANCIALS - 15.0%   
Banks - 6.2%   
1st Source Corp. 299 13,930 
Ameris Bancorp 591 25,348 
Associated Banc-Corp. 2,562 59,387 
Atlantic Capital Bancshares, Inc. (a) 414 6,239 
Banc of California, Inc. 822 13,111 
BancFirst Corp. 279 16,009 
Bancorp, Inc., Delaware (a) 1,002 10,521 
BancorpSouth Bank 1,479 42,447 
Bank of Hawaii Corp. 738 57,889 
Bank of Marin Bancorp 92 7,819 
Bank of the Ozarks, Inc. 1,571 42,983 
BankUnited, Inc. 1,802 59,646 
Banner Corp. 453 26,192 
Berkshire Hills Bancorp, Inc. 549 18,320 
BOK Financial Corp. 363 31,120 
Boston Private Financial Holdings, Inc. 1,414 19,089 
Bridge Bancorp, Inc. 335 9,950 
Brookline Bancorp, Inc., Delaware 1,244 19,282 
Bryn Mawr Bank Corp. 308 12,302 
Byline Bancorp, Inc. (a) 83 1,826 
Cadence Bancorp Class A 338 7,456 
Camden National Corp. 255 10,340 
Carolina Financial Corp. 296 9,795 
Cathay General Bancorp 1,287 48,481 
Centerstate Banks of Florida, Inc. 853 20,967 
Central Pacific Financial Corp. 543 14,683 
Chemical Financial Corp. 1,221 57,216 
CIT Group, Inc. 2,264 107,268 
City Holding Co. 265 19,552 
Columbia Banking Systems, Inc. 1,010 37,461 
Commerce Bancshares, Inc. 1,575 100,170 
Community Bank System, Inc. 768 44,844 
Community Trust Bancorp, Inc. 266 12,106 
ConnectOne Bancorp, Inc. 534 11,070 
Cullen/Frost Bankers, Inc. 966 94,591 
Customers Bancorp, Inc. (a) 494 10,122 
CVB Financial Corp. 1,749 38,216 
Eagle Bancorp, Inc. (a) 502 24,683 
Enterprise Financial Services Corp. 352 15,294 
Equity Bancshares, Inc. (a) 171 6,171 
FCB Financial Holdings, Inc. Class A (a) 659 25,787 
Fidelity Southern Corp. 397 9,218 
Financial Institutions, Inc. 218 6,224 
First Bancorp, North Carolina 358 13,207 
First Bancorp, Puerto Rico (a) 2,672 24,663 
First Busey Corp. 544 15,188 
First Citizen Bancshares, Inc. 152 64,848 
First Commonwealth Financial Corp. 1,550 20,925 
First Financial Bancorp, Ohio 1,074 28,107 
First Financial Bankshares, Inc. (b) 1,142 67,367 
First Foundation, Inc. (a) 422 6,841 
First Hawaiian, Inc. 896 22,203 
First Horizon National Corp. 4,035 65,125 
First Internet Bancorp 119 3,067 
First Interstate Bancsystem, Inc. 341 14,138 
First Merchants Corp. 699 29,085 
First Midwest Bancorp, Inc., Delaware 1,370 31,455 
First of Long Island Corp. 397 8,023 
Flushing Financial Corp. 491 11,141 
FNB Corp., Pennsylvania 3,608 42,683 
Franklin Financial Network, Inc. (a) 225 7,628 
Fulton Financial Corp. 3,009 48,174 
German American Bancorp, Inc. 395 12,525 
Glacier Bancorp, Inc. 1,324 56,138 
Great Western Bancorp, Inc. 1,019 37,346 
Green Bancorp, Inc. 439 8,122 
Guaranty Bancorp 306 7,962 
Hancock Whitney Corp. 1,439 60,380 
Hanmi Financial Corp. 570 11,959 
Heartland Financial U.S.A., Inc. 370 19,662 
Heritage Commerce Corp. 499 7,240 
Heritage Financial Corp., Washington 520 17,014 
Hilltop Holdings, Inc. 1,349 26,845 
Home Bancshares, Inc. 2,149 40,917 
Hope Bancorp, Inc. 2,178 31,537 
Horizon Bancorp, Inc. Indiana 569 9,536 
IBERIABANK Corp. 764 56,910 
Independent Bank Corp. 332 7,347 
Independent Bank Corp., Massachusetts 468 36,715 
Independent Bank Group, Inc. 184 10,655 
International Bancshares Corp. 996 38,545 
Investors Bancorp, Inc. 5,353 59,847 
Lakeland Bancorp, Inc. 625 10,294 
Lakeland Financial Corp. 447 19,234 
LegacyTexas Financial Group, Inc. 723 27,857 
Live Oak Bancshares, Inc. 391 7,194 
Luther Burbank Corp. 155 1,499 
MB Financial, Inc. 1,226 54,422 
Merchants Bancorp/IN 93 2,139 
Metropolitan Bank Holding Corp. (a) 43 1,585 
Midland States Bancorp, Inc. 109 2,940 
National Bank Holdings Corp. 466 15,732 
National Commerce Corp. (a) 194 7,197 
NBT Bancorp, Inc. 746 27,222 
OFG Bancorp 736 12,578 
Old National Bancorp, Indiana 2,341 41,787 
Opus Bank 323 6,134 
Pacific Premier Bancorp, Inc. (a) 479 14,001 
PacWest Bancorp 2,076 84,327 
Park National Corp. 222 20,291 
Peapack-Gladstone Financial Corp. 259 6,990 
Peoples United Financial, Inc. 5,374 84,157 
Pinnacle Financial Partners, Inc. 799 41,788 
Popular, Inc. 1,789 93,046 
Preferred Bank, Los Angeles 224 11,516 
Prosperity Bancshares, Inc. 1,200 78,036 
QCR Holdings, Inc. 214 7,796 
Renasant Corp. 721 25,148 
S&T Bancorp, Inc. 592 23,745 
Sandy Spring Bancorp, Inc. 398 14,149 
Seacoast Banking Corp., Florida (a) 525 13,813 
ServisFirst Bancshares, Inc. 770 27,705 
Signature Bank 928 101,987 
Simmons First National Corp. Class A 1,002 26,834 
South State Corp. 421 28,489 
Southside Bancshares, Inc. 487 15,428 
State Bank Financial Corp. 626 16,007 
Sterling Bancorp 2,266 40,743 
Stock Yards Bancorp, Inc. 355 11,257 
Synovus Financial Corp. 2,112 79,327 
TCF Financial Corp. 2,953 61,659 
Texas Capital Bancshares, Inc. (a) 849 55,380 
Tompkins Financial Corp. 219 16,015 
TowneBank 961 27,033 
Trico Bancshares 359 12,931 
TriState Capital Holdings, Inc. (a) 382 9,634 
Triumph Bancorp, Inc. (a) 324 11,619 
Trustmark Corp. 1,162 35,790 
UMB Financial Corp. 754 48,143 
Umpqua Holdings Corp. 3,810 73,152 
Union Bankshares Corp. 748 25,537 
United Bankshares, Inc., West Virginia 1,397 46,338 
United Community Bank, Inc. 1,225 30,466 
Univest Corp. of Pennsylvania 435 10,858 
Valley National Bancorp 4,404 43,952 
Veritex Holdings, Inc. (a) 307 7,233 
Washington Trust Bancorp, Inc. 237 12,170 
Webster Financial Corp. 1,586 93,320 
WesBanco, Inc. 682 27,348 
Westamerica Bancorp. 451 26,253 
Western Alliance Bancorp. (a) 1,635 78,872 
Wintrust Financial Corp. 896 68,221 
  4,232,513 
Capital Markets - 2.1%   
Arlington Asset Investment Corp. 565 4,752 
Artisan Partners Asset Management, Inc. 680 18,639 
B. Riley Financial, Inc. 245 4,716 
BGC Partners, Inc. Class A 3,808 40,327 
Blucora, Inc. (a) 665 19,232 
Brighthouse Financial, Inc. (a) 1,660 65,786 
Cohen & Steers, Inc. 341 13,091 
Cowen Group, Inc. Class A (a) 454 6,719 
Diamond Hill Investment Group, Inc. 57 9,814 
Eaton Vance Corp. (non-vtg.) 1,958 88,208 
Evercore, Inc. Class A 675 55,141 
FactSet Research Systems, Inc. 688 153,947 
Federated Investors, Inc. Class B (non-vtg.) 1,585 39,102 
Gain Capital Holdings, Inc. 363 2,773 
Greenhill & Co., Inc. (b) 480 10,584 
Hamilton Lane, Inc. Class A 242 9,288 
Houlihan Lokey 360 14,825 
Interactive Brokers Group, Inc. 1,161 57,365 
INTL FCStone, Inc. (a) 270 12,226 
Investment Technology Group, Inc. 517 14,207 
Janus Henderson Group PLC 3,111 76,437 
Lazard Ltd. Class A 2,245 89,216 
Legg Mason, Inc. 1,563 44,108 
LPL Financial 1,371 84,454 
MarketAxess Holdings, Inc. 649 136,076 
Moelis & Co. Class A 394 15,902 
Morningstar, Inc. 320 39,936 
Oppenheimer Holdings, Inc. Class A (non-vtg.) 171 5,260 
Piper Jaffray Companies 254 17,623 
PJT Partners, Inc. 283 12,831 
Stifel Financial Corp. 1,149 52,532 
The NASDAQ OMX Group, Inc. 1,964 170,298 
Virtu Financial, Inc. Class A 683 16,201 
Virtus Investment Partners, Inc. 115 11,424 
Waddell & Reed Financial, Inc. Class A (b) 1,426 27,194 
Westwood Holdings Group, Inc. 146 6,183 
WisdomTree Investments, Inc. 1,941 15,082 
  1,461,499 
Consumer Finance - 0.8%   
Credit Acceptance Corp. (a) 218 92,524 
Elevate Credit, Inc. (a) 206 878 
Encore Capital Group, Inc. (a)(b) 420 10,672 
Enova International, Inc. (a) 408 9,649 
EZCORP, Inc. (non-vtg.) Class A (a)(b) 862 8,568 
First Cash Financial Services, Inc. 839 67,456 
Green Dot Corp. Class A (a) 764 57,865 
LendingClub Corp. (a) 5,553 17,936 
Navient Corp. 5,248 60,772 
Nelnet, Inc. Class A 327 18,407 
OneMain Holdings, Inc. (a) 895 25,525 
PRA Group, Inc. (a) 800 24,672 
Regional Management Corp. (a) 145 4,185 
Santander Consumer U.S.A. Holdings, Inc. 1,911 35,831 
SLM Corp. (a) 7,420 75,239 
World Acceptance Corp. (a) 105 10,656 
  520,835 
Diversified Financial Services - 0.5%   
Acushnet Holdings Corp. 304 7,427 
Cannae Holdings, Inc. (a) 1,128 20,834 
Donnelley Financial Solutions, Inc. (a) 471 7,324 
FB Financial Corp. 92 3,356 
Granite Point Mortgage Trust, Inc. 753 14,013 
Jefferies Financial Group, Inc. 5,601 120,253 
On Deck Capital, Inc. (a) 661 4,561 
Rafael Holdings, Inc. (a) 143 1,164 
Victory Capital Holdings, Inc. (a) 199 1,552 
Voya Financial, Inc. 3,360 147,034 
  327,518 
Insurance - 3.3%   
AMBAC Financial Group, Inc. (a) 760 15,641 
American Equity Investment Life Holding Co. 1,521 47,486 
American Financial Group, Inc. 1,252 125,238 
American National Insurance Co. 137 16,884 
Amerisafe, Inc. 325 21,154 
AmTrust Financial Services, Inc. 1,799 25,798 
Argo Group International Holdings, Ltd. 597 36,781 
Aspen Insurance Holdings Ltd. 1,038 43,471 
Assurant, Inc. 983 95,557 
Assured Guaranty Ltd. 2,242 89,635 
Athene Holding Ltd. (a) 887 40,554 
Axis Capital Holdings Ltd. 1,525 85,080 
Brown & Brown, Inc. 3,941 111,057 
CNO Financial Group, Inc. 3,003 56,757 
eHealth, Inc. (a) 291 9,999 
Employers Holdings, Inc. 558 25,646 
Enstar Group Ltd. (a) 184 33,414 
Erie Indemnity Co. Class A 318 41,241 
Everest Re Group Ltd. 708 154,245 
FBL Financial Group, Inc. Class A 171 11,796 
First American Financial Corp. 1,895 84,005 
Genworth Financial, Inc. Class A (a) 8,616 36,876 
Greenlight Capital Re, Ltd. (a) 546 6,328 
Hanover Insurance Group, Inc. 735 81,864 
HCI Group, Inc. 136 5,939 
Health Insurance Innovations, Inc. (a) 207 10,122 
Heritage Insurance Holdings, Inc. 466 6,505 
Horace Mann Educators Corp. 700 27,496 
James River Group Holdings Ltd. 309 11,897 
Kemper Corp. 841 63,235 
Kinsale Capital Group, Inc. 193 11,524 
Maiden Holdings Ltd. 1,164 4,086 
MBIA, Inc. (a)(b) 2,249 22,265 
Mercury General Corp. 631 37,425 
National General Holdings Corp. 1,069 29,782 
National Western Life Group, Inc. 40 10,771 
Navigators Group, Inc. 380 26,277 
Old Republic International Corp. 4,206 92,742 
Primerica, Inc. 792 86,914 
ProAssurance Corp. 924 40,582 
RenaissanceRe Holdings Ltd. 710 86,734 
RLI Corp. 659 48,720 
Safety Insurance Group, Inc. 245 20,404 
Selective Insurance Group, Inc. 1,001 64,915 
Stewart Information Services Corp. 410 16,925 
Third Point Reinsurance Ltd. (a) 1,017 11,248 
Trupanion, Inc. (a)(b) 281 7,098 
United Fire Group, Inc. 376 20,240 
United Insurance Holdings Corp. 286 5,640 
Universal Insurance Holdings, Inc. 564 23,677 
W.R. Berkley Corp. 1,663 126,222 
White Mountains Insurance Group Ltd. 79 70,047 
  2,285,939 
Mortgage Real Estate Investment Trusts - 1.1%   
AG Mortgage Investment Trust, Inc. 423 7,318 
AGNC Investment Corp. 5,646 100,725 
Anworth Mortgage Asset Corp. 1,734 7,560 
Apollo Commercial Real Estate Finance, Inc. 1,320 24,697 
Arbor Realty Trust, Inc. (b) 816 9,857 
Ares Commercial Real Estate Corp. 536 7,756 
Armour Residential REIT, Inc. 680 14,810 
Blackstone Mortgage Trust, Inc. 1,598 53,917 
Capstead Mortgage Corp. 1,605 11,010 
Cherry Hill Mortgage Investment Corp. 275 4,925 
Chimera Investment Corp. 3,041 56,563 
Dynex Capital, Inc. 964 5,582 
Ellington Residential Mortgage REIT 152 1,605 
Exantas Capital Corp. 586 6,645 
Hannon Armstrong Sustainable Infrastructure Capital, Inc. 783 16,247 
Invesco Mortgage Capital, Inc. 1,895 28,577 
Ladder Capital Corp. Class A 1,082 18,221 
MFA Financial, Inc. 6,338 43,922 
New Residential Investment Corp. 5,125 91,635 
New York Mortgage Trust, Inc. (b) 1,922 11,801 
Orchid Island Capital, Inc. 299 1,955 
PennyMac Mortgage Investment Trust 1,133 21,878 
Redwood Trust, Inc. 1,316 21,609 
Starwood Property Trust, Inc. 4,398 95,525 
TPG RE Finance Trust, Inc. 144 2,854 
Two Harbors Investment Corp. 3,636 53,413 
Western Asset Mortgage Capital Corp. 807 8,046 
  728,653 
Real Estate Management & Development - 0.0%   
The RMR Group, Inc. 125 9,485 
Thrifts & Mortgage Finance - 1.0%   
Beneficial Bancorp, Inc. 1,321 20,647 
BofI Holding, Inc. (a) 981 29,783 
Capitol Federal Financial, Inc. 2,166 26,880 
Dime Community Bancshares, Inc. 556 8,963 
Essent Group Ltd. (a) 1,266 49,906 
Farmer Mac Class C (non-vtg.) 160 11,174 
First Defiance Financial Corp. 336 9,146 
Flagstar Bancorp, Inc. (a) 357 10,992 
HomeStreet, Inc. (a) 445 11,561 
Kearny Financial Corp. 1,539 19,915 
LendingTree, Inc. (a)(b) 125 25,211 
Meridian Bancorp, Inc. Maryland 854 13,527 
Meta Financial Group, Inc. 475 11,989 
MGIC Investment Corp. (a) 5,881 71,807 
New York Community Bancorp, Inc. 8,408 80,549 
NMI Holdings, Inc. (a) 913 19,301 
Northfield Bancorp, Inc. 725 9,548 
Northwest Bancshares, Inc. 1,746 28,180 
OceanFirst Financial Corp. 493 12,483 
Ocwen Financial Corp. (a) 1,841 6,444 
Oritani Financial Corp. 671 9,803 
PDL Community Bancorp 141 1,933 
PennyMac Financial Services, Inc. 337 6,737 
Provident Financial Services, Inc. 1,020 24,888 
Radian Group, Inc. 3,701 71,022 
Sterling Bancorp, Inc. 253 2,619 
TFS Financial Corp. 1,009 14,842 
Trustco Bank Corp., New York 1,679 12,576 
United Financial Bancorp, Inc. New 890 13,751 
Walker & Dunlop, Inc. 469 19,679 
Washington Federal, Inc. 1,543 43,451 
WSFS Financial Corp. 460 19,564 
  718,871 
TOTAL FINANCIALS  10,285,313 
HEALTH CARE - 11.3%   
Biotechnology - 3.4%   
Abeona Therapeutics, Inc. (a) 554 4,764 
ACADIA Pharmaceuticals, Inc. (a) 1,639 31,928 
Acceleron Pharma, Inc. (a) 551 27,974 
Achaogen, Inc. (a) 437 1,682 
Achillion Pharmaceuticals, Inc. (a) 1,857 5,311 
Acorda Therapeutics, Inc. (a) 781 14,925 
Adamas Pharmaceuticals, Inc. (a)(b) 275 4,551 
Aduro Biotech, Inc. (a) 443 1,878 
Agenus, Inc. (a)(b) 1,292 2,054 
Agios Pharmaceuticals, Inc. (a) 573 36,133 
Aimmune Therapeutics, Inc. (a) 364 9,675 
Akebia Therapeutics, Inc. (a) 619 4,636 
Alder Biopharmaceuticals, Inc. (a) 780 9,906 
Alkermes PLC (a) 2,632 107,465 
AMAG Pharmaceuticals, Inc. (a) 611 13,137 
Amicus Therapeutics, Inc. (a) 2,472 27,637 
AnaptysBio, Inc. (a) 95 7,098 
Anavex Life Sciences Corp. (a) 535 1,289 
Apellis Pharmaceuticals, Inc. (a) 183 2,560 
Ardelyx, Inc. (a) 183 503 
Arena Pharmaceuticals, Inc. (a) 435 15,512 
Array BioPharma, Inc. (a) 2,935 47,547 
Arrowhead Pharmaceuticals, Inc. (a)(b) 1,185 15,073 
Atara Biotherapeutics, Inc. (a) 365 12,472 
Athersys, Inc. (a) 1,725 3,226 
Audentes Therapeutics, Inc. (a) 463 13,057 
AVEO Pharmaceuticals, Inc. (a)(b) 1,804 4,420 
Bellicum Pharmaceuticals, Inc. (a) 292 1,188 
BioCryst Pharmaceuticals, Inc. (a) 1,178 8,623 
Biohaven Pharmaceutical Holding Co. Ltd. (a) 189 6,813 
Blueprint Medicines Corp. (a) 434 26,374 
Calithera Biosciences, Inc. (a) 457 2,157 
Cara Therapeutics, Inc. (a)(b) 367 6,878 
Catalyst Pharmaceutical Partners, Inc. (a) 1,787 5,325 
Celldex Therapeutics, Inc. (a) 1,577 496 
Clovis Oncology, Inc. (a) 731 8,502 
Coherus BioSciences, Inc. (a) 602 7,037 
Conatus Pharmaceuticals, Inc. (a)(b) 462 1,917 
Concert Pharmaceuticals, Inc. (a) 272 4,058 
Corbus Pharmaceuticals Holdings, Inc. (a)(b) 762 5,075 
Cue Biopharma, Inc. (a) 186 1,179 
Curis, Inc. (a) 327 533 
Cytokinetics, Inc. (a) 705 4,716 
CytomX Therapeutics, Inc. (a) 374 5,333 
Deciphera Pharmaceuticals, Inc. (a) 101 2,039 
Denali Therapeutics, Inc. (a)(b) 265 3,835 
Dynavax Technologies Corp. (a) 698 6,903 
Eagle Pharmaceuticals, Inc. (a) 137 6,746 
Editas Medicine, Inc. (a) 273 6,915 
Emergent BioSolutions, Inc. (a) 602 36,836 
Enanta Pharmaceuticals, Inc. (a) 236 18,210 
Epizyme, Inc. (a) 742 5,973 
Esperion Therapeutics, Inc. (a) 288 13,084 
Exact Sciences Corp. (a) 1,874 133,148 
Exelixis, Inc. (a) 3,927 54,467 
FibroGen, Inc. (a) 912 39,097 
Five Prime Therapeutics, Inc. (a) 532 6,458 
Flexion Therapeutics, Inc. (a)(b) 364 4,929 
Genomic Health, Inc. (a) 327 23,449 
Geron Corp. (a) 2,351 3,597 
Global Blood Therapeutics, Inc. (a) 336 11,790 
GlycoMimetics, Inc. (a) 386 4,856 
Halozyme Therapeutics, Inc. (a) 1,973 30,641 
Heron Therapeutics, Inc. (a) 740 20,542 
Idera Pharmaceuticals, Inc. (a) 231 1,541 
Immune Design Corp. (a) 281 405 
ImmunoGen, Inc. (a) 1,545 8,389 
Immunomedics, Inc. (a)(b) 1,712 38,571 
Inovio Pharmaceuticals, Inc. (a) 1,119 5,517 
Insmed, Inc. (a) 1,047 15,286 
Insys Therapeutics, Inc. (a) 347 2,960 
Intellia Therapeutics, Inc. (a) 102 1,732 
Intercept Pharmaceuticals, Inc. (a) 305 29,283 
Intrexon Corp. (a)(b) 1,070 12,369 
Invitae Corp. (a) 525 7,450 
Ionis Pharmaceuticals, Inc. (a) 2,099 104,005 
Iovance Biotherapeutics, Inc. (a) 894 8,118 
Ironwood Pharmaceuticals, Inc. Class A (a) 2,289 29,986 
Jounce Therapeutics, Inc. (a) 90 364 
Kadmon Holdings, Inc. (a) 1,159 2,747 
Karyopharm Therapeutics, Inc. (a) 347 3,657 
Keryx Biopharmaceuticals, Inc. (a) 1,724 4,793 
Kura Oncology, Inc. (a) 299 3,250 
La Jolla Pharmaceutical Co. (a)(b) 203 3,309 
Lexicon Pharmaceuticals, Inc. (a) 832 6,515 
Ligand Pharmaceuticals, Inc. Class B (a) 330 54,387 
Loxo Oncology, Inc. (a) 284 43,355 
Macrogenics, Inc. (a) 573 9,432 
MannKind Corp. (a)(b) 740 1,354 
Merrimack Pharmaceuticals, Inc. (a) 173 673 
MiMedx Group, Inc. (a)(b) 1,746 10,162 
Minerva Neurosciences, Inc. (a) 227 2,490 
Mirati Therapeutics, Inc. (a) 450 16,817 
Momenta Pharmaceuticals, Inc. (a) 1,064 13,311 
Myriad Genetics, Inc. (a) 1,166 52,505 
Natera, Inc. (a) 442 9,706 
Neurocrine Biosciences, Inc. (a) 1,503 161,046 
NewLink Genetics Corp. (a) 409 773 
Novavax, Inc. (a)(b) 4,686 8,247 
Opko Health, Inc. (a)(b) 6,299 21,291 
Organovo Holdings, Inc. (a) 1,418 1,432 
PDL BioPharma, Inc. (a) 3,213 8,000 
Portola Pharmaceuticals, Inc. (a) 956 18,824 
Progenics Pharmaceuticals, Inc. (a) 1,256 6,293 
Prothena Corp. PLC (a) 621 7,700 
PTC Therapeutics, Inc. (a) 591 22,765 
Puma Biotechnology, Inc. (a) 475 17,599 
Radius Health, Inc. (a) 613 9,704 
REGENXBIO, Inc. (a) 341 22,734 
Repligen Corp. (a) 596 32,315 
Retrophin, Inc. (a) 606 15,550 
Rigel Pharmaceuticals, Inc. (a) 1,866 5,355 
Sage Therapeutics, Inc. (a) 534 68,715 
Sangamo Therapeutics, Inc. (a) 1,199 15,191 
Sarepta Therapeutics, Inc. (a)(b) 868 116,104 
Savara, Inc. (a) 448 4,032 
Seattle Genetics, Inc. (a) 1,665 93,456 
Selecta Biosciences, Inc. (a) 118 607 
Seres Therapeutics, Inc. (a) 279 1,917 
Solid Biosciences, Inc. (a) 127 4,064 
Sorrento Therapeutics, Inc. (a) 317 1,011 
Spark Therapeutics, Inc. (a) 393 17,681 
Spectrum Pharmaceuticals, Inc. (a) 1,229 14,625 
Stemline Therapeutics, Inc. (a) 390 5,842 
Syndax Pharmaceuticals, Inc. (a) 336 1,616 
Synergy Pharmaceuticals, Inc. (a)(b) 3,198 1,333 
Syros Pharmaceuticals, Inc. (a) 283 1,862 
TESARO, Inc. (a)(b) 596 17,212 
TG Therapeutics, Inc. (a) 595 2,707 
Tocagen, Inc. (a) 159 1,663 
Ultragenyx Pharmaceutical, Inc. (a) 654 31,686 
United Therapeutics Corp. (a) 737 81,704 
Vanda Pharmaceuticals, Inc. (a) 777 14,740 
Verastem, Inc. (a)(b) 714 3,620 
Vericel Corp. (a) 620 6,913 
Voyager Therapeutics, Inc. (a) 311 4,220 
Xencor, Inc. (a) 643 21,039 
ZIOPHARM Oncology, Inc. (a)(b) 1,738 3,441 
  2,357,200 
Health Care Equipment & Supplies - 2.9%   
Accuray, Inc. (a) 1,507 6,766 
Angiodynamics, Inc. (a) 518 10,583 
Anika Therapeutics, Inc. (a) 253 9,047 
Antares Pharma, Inc. (a) 2,539 7,592 
Atricure, Inc. (a) 521 16,573 
Atrion Corp. 25 17,055 
Avanos Medical, Inc. (a) 808 45,733 
AxoGen, Inc. (a) 443 16,519 
Cantel Medical Corp. 628 49,706 
Cardiovascular Systems, Inc. (a) 565 15,848 
Cerus Corp. (a) 1,761 11,799 
CONMED Corp. 425 28,658 
Cryolife, Inc. (a) 460 14,251 
Cutera, Inc. (a) 220 4,466 
DexCom, Inc. (a) 1,459 193,711 
Endologix, Inc. (a) 1,380 1,684 
Genmark Diagnostics, Inc. (a) 834 4,445 
Glaukos Corp. (a) 191 11,067 
Globus Medical, Inc. (a) 1,244 65,745 
Haemonetics Corp. (a) 891 93,083 
Heska Corp. (a) 110 11,024 
Hill-Rom Holdings, Inc. 1,032 86,771 
ICU Medical, Inc. (a) 257 65,466 
Inogen, Inc. (a) 277 52,511 
Insulet Corp. (a) 994 87,681 
Integer Holdings Corp. (a) 476 35,448 
Integra LifeSciences Holdings Corp. (a) 1,034 55,391 
Invacare Corp. 573 7,403 
iRhythm Technologies, Inc. (a) 117 9,039 
K2M Group Holdings, Inc. (a) 615 16,839 
Lantheus Holdings, Inc. (a) 519 7,250 
LeMaitre Vascular, Inc. 194 5,180 
LivaNova PLC (a) 755 84,552 
Masimo Corp. (a) 762 88,087 
Meridian Bioscience, Inc. 750 12,158 
Merit Medical Systems, Inc. (a) 771 44,040 
Natus Medical, Inc. (a) 564 16,852 
Neogen Corp. (a) 871 52,887 
Nevro Corp. (a) 383 18,675 
NuVasive, Inc. (a) 871 48,924 
NxStage Medical, Inc. (a) 1,007 28,579 
OraSure Technologies, Inc. (a) 957 13,302 
Orthofix International NV (a) 303 18,428 
Penumbra, Inc. (a) 443 60,248 
Pulse Biosciences, Inc. (a) 48 615 
Quidel Corp. (a) 487 31,343 
Rockwell Medical Technologies, Inc. (a) 697 2,844 
Sientra, Inc. (a) 186 3,830 
Staar Surgical Co. (a) 457 18,330 
Steris PLC 1,465 160,139 
Tactile Systems Technology, Inc. (a) 248 16,239 
Varex Imaging Corp. (a) 651 16,900 
ViewRay, Inc. (a)(b) 553 4,783 
West Pharmaceutical Services, Inc. 1,263 133,777 
Wright Medical Group NV (a) 1,789 48,267 
  1,988,133 
Health Care Providers & Services - 1.8%   
Acadia Healthcare Co., Inc. (a)(b) 1,318 54,697 
Aceto Corp. 498 1,021 
Amedisys, Inc. (a) 482 53,020 
American Renal Associates Holdings, Inc. (a) 206 3,974 
AMN Healthcare Services, Inc. (a) 832 42,116 
BioScrip, Inc. (a) 2,188 5,864 
BioTelemetry, Inc. (a) 484 28,120 
Brookdale Senior Living, Inc. (a) 3,243 28,960 
Capital Senior Living Corp. (a) 514 4,626 
Chemed Corp. 280 85,212 
Community Health Systems, Inc. (a)(b) 1,799 5,685 
Corvel Corp. (a) 183 10,607 
Cross Country Healthcare, Inc. (a) 538 4,751 
Diplomat Pharmacy, Inc. (a) 720 14,285 
G1 Therapeutics, Inc. (a) 132 5,281 
HealthEquity, Inc. (a) 742 68,116 
HealthSouth Corp. 1,547 104,113 
LHC Group, Inc. (a) 255 23,315 
LifePoint Hospitals, Inc. (a) 689 44,689 
Magellan Health Services, Inc. (a) 398 25,894 
MEDNAX, Inc. (a) 1,601 66,105 
Molina Healthcare, Inc. (a) 735 93,176 
National Healthcare Corp. 176 13,997 
National Vision Holdings, Inc. 276 11,435 
OptiNose, Inc. 114 1,206 
Owens & Minor, Inc. 1,075 8,493 
Patterson Companies, Inc. 1,448 32,696 
Premier, Inc. (a) 866 38,970 
Providence Service Corp. (a) 211 13,945 
Quorum Health Corp. (a) 442 1,759 
RadNet, Inc. (a) 537 7,948 
Select Medical Holdings Corp. (a) 1,858 30,806 
Surgery Partners, Inc. (a) 330 4,485 
Tenet Healthcare Corp. (a) 1,381 35,533 
The Ensign Group, Inc. 827 30,632 
Tivity Health, Inc. (a) 582 20,027 
Triple-S Management Corp. (a) 414 7,104 
U.S. Physical Therapy, Inc. 217 23,332 
Wellcare Health Plans, Inc. (a) 764 210,856 
  1,266,851 
Health Care Technology - 0.8%   
Allscripts Healthcare Solutions, Inc. (a) 3,210 38,231 
athenahealth, Inc. (a) 683 87,110 
Castlight Health, Inc. Class B (a) 772 1,907 
Computer Programs & Systems, Inc. 199 4,975 
Evolent Health, Inc. (a) 316 7,015 
HealthStream, Inc. 452 11,892 
HMS Holdings Corp. (a) 1,461 42,106 
Inovalon Holdings, Inc. Class A (a) 1,058 9,956 
Medidata Solutions, Inc. (a) 948 66,644 
Nextgen Healthcare, Inc. (a) 772 11,402 
Omnicell, Inc. (a) 633 44,753 
Tabula Rasa HealthCare, Inc. (a) 220 16,254 
Teladoc Health, Inc. (a) 623 43,199 
Veeva Systems, Inc. Class A (a) 1,748 159,680 
Vocera Communications, Inc. (a) 423 14,682 
  559,806 
Life Sciences Tools & Services - 1.1%   
Accelerate Diagnostics, Inc. (a)(b) 422 6,305 
Bio-Rad Laboratories, Inc. Class A (a) 358 97,680 
Bio-Techne Corp. 644 108,012 
Bruker Corp. 1,830 57,334 
Cambrex Corp. (a) 558 29,736 
Charles River Laboratories International, Inc. (a) 818 99,649 
Codexis, Inc. (a) 648 10,089 
Enzo Biochem, Inc. (a) 598 1,985 
Fluidigm Corp. (a) 463 3,334 
Luminex Corp. 690 19,851 
Medpace Holdings, Inc. (a) 131 6,825 
Nanostring Technologies, Inc. (a) 240 3,698 
NeoGenomics, Inc. (a) 857 15,803 
Pacific Biosciences of California, Inc. (a) 1,524 6,782 
PerkinElmer, Inc. 1,890 163,447 
PRA Health Sciences, Inc. (a) 668 64,709 
Syneos Health, Inc. (a) 927 42,299 
  737,538 
Pharmaceuticals - 1.3%   
Aclaris Therapeutics, Inc. (a) 193 2,295 
Adamis Pharmaceuticals Corp. (a) 417 1,068 
Aerie Pharmaceuticals, Inc. (a) 582 30,951 
Akcea Therapeutics, Inc. (a)(b) 273 6,093 
Akorn, Inc. (a) 1,534 10,232 
Amneal Pharmaceuticals, Inc. (a)(b) 1,288 23,764 
Amphastar Pharmaceuticals, Inc. (a) 645 11,578 
ANI Pharmaceuticals, Inc. (a) 128 6,212 
Aratana Therapeutics, Inc. (a) 515 3,059 
Assembly Biosciences, Inc. (a) 303 6,933 
Assertio Therapeutics, Inc. (a) 987 4,792 
Biodelivery Sciences International, Inc. (a) 730 2,708 
Catalent, Inc. (a) 2,165 87,336 
Clementia Pharmaceuticals, Inc. (a) 120 1,560 
Collegium Pharmaceutical, Inc. (a)(b) 322 5,168 
Corcept Therapeutics, Inc. (a) 1,365 16,039 
Corium International, Inc. (a) 469 5,933 
CymaBay Therapeutics, Inc. (a) 1,004 10,592 
Dermira, Inc. (a) 414 5,196 
Endo International PLC (a) 3,432 58,138 
Horizon Pharma PLC (a) 2,799 50,970 
Innoviva, Inc. (a) 1,304 18,204 
Intersect ENT, Inc. (a) 430 12,066 
Intra-Cellular Therapies, Inc. (a) 597 10,137 
Jazz Pharmaceuticals PLC (a) 1,036 164,538 
Kala Pharmaceuticals, Inc. (a) 88 638 
Lannett Co., Inc. (a) 360 1,318 
Mallinckrodt PLC (a) 1,832 45,910 
Melinta Therapeutics, Inc. (a) 181 476 
MyoKardia, Inc. (a) 264 13,976 
Neos Therapeutics, Inc.(a) 374 1,171 
Ocular Therapeutix, Inc. (a) 266 1,319 
Omeros Corp. (a) 673 10,277 
Otonomy, Inc. (a) 243 566 
Pacira Pharmaceuticals, Inc. (a) 650 31,779 
Paratek Pharmaceuticals, Inc. (a) 268 1,997 
Phibro Animal Health Corp. Class A 308 13,219 
Prestige Brands Holdings, Inc. (a) 905 32,725 
Reata Pharmaceuticals, Inc. (a) 125 7,366 
Revance Therapeutics, Inc. (a) 369 8,033 
Rhythm Pharmaceuticals, Inc. 101 2,829 
Supernus Pharmaceuticals, Inc. (a) 859 40,854 
Teligent, Inc. (a) 719 2,308 
Tetraphase Pharmaceuticals, Inc. (a) 556 1,140 
The Medicines Company (a) 1,202 27,959 
TherapeuticsMD, Inc. (a)(b) 2,717 13,286 
Theravance Biopharma, Inc. (a) 636 15,436 
WAVE Life Sciences (a) 152 7,097 
Zogenix, Inc. (a) 415 17,330 
Zynerba Pharmaceuticals, Inc. (a) 169 889 
  855,460 
TOTAL HEALTH CARE  7,764,988 
INDUSTRIALS - 14.9%   
Aerospace & Defense - 1.4%   
AAR Corp. 553 26,312 
Aerojet Rocketdyne Holdings, Inc. (a) 1,212 42,808 
AeroVironment, Inc. (a) 356 32,029 
Astronics Corp. (a) 444 12,947 
Axon Enterprise, Inc. (a) 904 55,795 
BWX Technologies, Inc. 1,713 100,142 
Cubic Corp. 434 28,475 
Curtiss-Wright Corp. 762 83,409 
Ducommun, Inc. (a) 181 6,726 
Engility Holdings, Inc. (a) 312 9,681 
Esterline Technologies Corp. (a) 511 59,971 
HEICO Corp. 708 59,352 
HEICO Corp. Class A 1,219 81,259 
Hexcel Corp. 1,582 92,579 
KEYW Holding Corp. (a) 748 5,857 
Kratos Defense & Security Solutions, Inc. (a) 955 11,966 
Mercury Systems, Inc. (a) 813 38,097 
Moog, Inc. Class A 557 39,853 
National Presto Industries, Inc. 87 10,846 
Sparton Corp. (a) 162 2,006 
Teledyne Technologies, Inc. (a) 600 132,768 
Triumph Group, Inc. 838 15,294 
Vectrus, Inc. (a) 193 5,172 
Wesco Aircraft Holdings, Inc. (a) 1,034 10,526 
  963,870 
Air Freight & Logistics - 0.2%   
Air Transport Services Group, Inc. (a) 810 15,876 
Atlas Air Worldwide Holdings, Inc. (a) 421 21,732 
Echo Global Logistics, Inc. (a) 472 12,135 
Forward Air Corp. 530 31,795 
Hub Group, Inc. Class A (a) 578 26,484 
  108,022 
Airlines - 0.6%   
Alaska Air Group, Inc. 2,124 130,456 
Allegiant Travel Co. 222 25,339 
Hawaiian Holdings, Inc. 928 32,118 
JetBlue Airways Corp. (a) 5,585 93,437 
SkyWest, Inc. 896 51,332 
Spirit Airlines, Inc. (a) 1,198 62,176 
  394,858 
Building Products - 1.2%   
AAON, Inc. 695 23,971 
Advanced Drain Systems, Inc. Del 596 16,563 
Allegion PLC 1,656 141,969 
American Woodmark Corp. (a) 240 14,506 
Apogee Enterprises, Inc. 481 17,364 
Armstrong World Industries, Inc. (a) 860 53,105 
Builders FirstSource, Inc. (a) 1,509 18,681 
Continental Building Products, Inc. (a) 700 19,467 
COVIA Corp. (a) 552 3,191 
CSW Industrials, Inc. (a) 284 13,073 
GCP Applied Technologies, Inc. (a) 1,240 32,203 
Gibraltar Industries, Inc. (a) 544 19,388 
GMS, Inc. (a) 106 1,743 
Griffon Corp. 537 6,508 
Insteel Industries, Inc. 307 8,019 
Jeld-Wen Holding, Inc. (a) 668 10,862 
Lennox International, Inc. 669 141,085 
Masonite International Corp. (a) 523 28,969 
NCI Building Systems, Inc. (a) 678 8,306 
Patrick Industries, Inc. (a) 366 15,925 
PGT, Inc. (a) 857 17,363 
Quanex Building Products Corp. 602 8,922 
Simpson Manufacturing Co. Ltd. 699 39,899 
Trex Co., Inc. (a) 1,017 62,342 
Universal Forest Products, Inc. 1,030 29,118 
USG Corp. (a) 1,534 64,765 
  817,307 
Commercial Services & Supplies - 2.0%   
ABM Industries, Inc. 973 29,920 
ACCO Brands Corp. 1,806 14,574 
ADS Waste Holdings, Inc. (a) 339 9,184 
Brady Corp. Class A 824 33,199 
Casella Waste Systems, Inc. Class A (a) 674 21,945 
CECO Environmental Corp. (a) 375 2,790 
Clean Harbors, Inc. (a) 903 61,440 
Copart, Inc. (a) 3,521 172,212 
Covanta Holding Corp. 2,263 33,243 
Deluxe Corp. 842 39,751 
Ennis, Inc. 464 8,983 
Essendant, Inc. 635 8,090 
Evoqua Water Technologies Corp. (a) 495 4,752 
Healthcare Services Group, Inc. (b) 1,257 51,022 
Heritage-Crystal Clean, Inc. (a) 212 4,874 
Herman Miller, Inc. 1,041 34,301 
HNI Corp. 772 29,251 
Hudson Technologies, Inc. (a) 431 357 
Interface, Inc. 1,100 17,919 
KAR Auction Services, Inc. 2,383 135,688 
Kimball International, Inc. Class B 703 11,571 
Knoll, Inc. 863 17,131 
LSC Communications, Inc. 398 3,753 
Matthews International Corp. Class A 540 22,475 
McGrath RentCorp. 420 22,424 
Mobile Mini, Inc. 771 31,704 
Msa Safety, Inc. 540 56,398 
Multi-Color Corp. 236 12,546 
PICO Holdings, Inc. 338 3,860 
Pitney Bowes, Inc. 3,149 20,846 
Quad/Graphics, Inc. 507 7,823 
R.R. Donnelley & Sons Co. 1,116 6,551 
Rollins, Inc. 1,650 97,680 
SP Plus Corp. (a) 329 10,515 
Steelcase, Inc. Class A 1,507 25,016 
Stericycle, Inc. (a) 1,470 73,456 
Team, Inc. (a)(b) 519 10,328 
Tetra Tech, Inc. 984 64,983 
The Brink's Co. 778 51,597 
U.S. Ecology, Inc. 378 26,434 
UniFirst Corp. 268 40,012 
Viad Corp. 355 17,001 
VSE Corp. 136 4,265 
  1,351,864 
Construction & Engineering - 1.2%   
AECOM (a) 2,650 77,221 
Aegion Corp. (a) 616 11,926 
Argan, Inc. 229 10,081 
Comfort Systems U.S.A., Inc. 639 34,174 
Dycom Industries, Inc. (a) 546 37,062 
EMCOR Group, Inc. 1,048 74,387 
Fluor Corp. 2,403 105,396 
Goldfield Corp. 366 1,354 
Granite Construction, Inc. 687 31,410 
Great Lakes Dredge & Dock Corp. (a) 973 5,653 
Jacobs Engineering Group, Inc. 2,082 156,337 
KBR, Inc. 2,470 48,857 
Keane Group, Inc. (a) 473 5,946 
MasTec, Inc. (a) 1,123 48,862 
MYR Group, Inc. (a) 287 9,583 
NV5 Holdings, Inc. (a) 130 10,149 
Primoris Services Corp. 703 14,883 
Quanta Services, Inc. (a) 2,614 81,557 
Sterling Construction Co., Inc. (a) 423 4,805 
Tutor Perini Corp. (a) 699 10,835 
Valmont Industries, Inc. 390 48,481 
  828,959 
Electrical Equipment - 0.6%   
Acuity Brands, Inc. 729 91,592 
AZZ, Inc. 445 19,736 
Encore Wire Corp. 364 16,089 
Energous Corp. (a) 271 2,179 
EnerSys 752 59,837 
FuelCell Energy, Inc. (a) 1,191 1,007 
Generac Holdings, Inc. (a) 1,107 56,158 
Hubbell, Inc. Class B 889 90,411 
Plug Power, Inc. (a)(b) 3,016 5,580 
Powell Industries, Inc. 156 4,549 
Regal Beloit Corp. 768 55,066 
Sunrun, Inc. (a) 1,063 13,032 
Thermon Group Holdings, Inc. (a) 560 12,085 
TPI Composites, Inc. (a) 210 5,305 
Vivint Solar, Inc. (a) 394 2,045 
  434,671 
Industrial Conglomerates - 0.3%   
Carlisle Companies, Inc. 1,113 107,505 
ITT, Inc. 1,523 76,912 
Raven Industries, Inc. 628 27,305 
  211,722 
Machinery - 4.2%   
Actuant Corp. Class A 1,008 24,041 
AGCO Corp. 1,169 65,511 
Alamo Group, Inc. 166 14,230 
Albany International Corp. Class A 500 34,990 
Allison Transmission Holdings, Inc. 2,852 125,716 
Altra Industrial Motion Corp. 456 14,715 
American Railcar Industries, Inc. 123 8,599 
Apergy Corp. (a) 1,340 52,247 
Astec Industries, Inc. 329 12,374 
Barnes Group, Inc. 863 48,846 
Briggs & Stratton Corp. 752 10,927 
Cactus, Inc. (a) 461 15,425 
Chart Industries, Inc. (a) 529 35,998 
CIRCOR International, Inc. 291 9,460 
Colfax Corp. (a) 1,698 47,595 
Columbus McKinnon Corp. (NY Shares) 353 12,966 
Commercial Vehicle Group, Inc. (a) 366 2,449 
Crane Co. 857 74,593 
Donaldson Co., Inc. 2,276 116,713 
Douglas Dynamics, Inc. 384 16,662 
Energy Recovery, Inc. (a)(b) 604 4,530 
EnPro Industries, Inc. 370 23,014 
ESCO Technologies, Inc. 446 27,304 
ExOne Co. (a) 145 957 
Federal Signal Corp. 1,040 22,870 
Flowserve Corp. 2,251 103,321 
Franklin Electric Co., Inc. 669 28,379 
FreightCar America, Inc. (a) 202 2,889 
Gardner Denver Holdings, Inc. (a) 750 20,295 
Global Brass & Copper Holdings, Inc. 381 12,047 
Gorman-Rupp Co. 335 11,558 
Graco, Inc. 2,879 116,974 
Greenbrier Companies, Inc. 481 22,823 
Harsco Corp. (a) 1,390 38,183 
Hillenbrand, Inc. 1,082 51,828 
Hyster-Yale Materials Handling Class A 174 10,518 
John Bean Technologies Corp. 504 52,401 
Kadant, Inc. 186 18,358 
Kennametal, Inc. 1,366 48,425 
Lincoln Electric Holdings, Inc. 1,070 86,574 
Lindsay Corp. 186 17,785 
Lydall, Inc. (a) 305 9,110 
Manitowoc Co., Inc. (a) 615 11,242 
Meritor, Inc. (a) 1,510 25,655 
Middleby Corp. (a)(b) 993 111,514 
Milacron Holdings Corp. (a) 535 7,490 
Mueller Industries, Inc. 998 24,301 
Mueller Water Products, Inc. Class A 2,818 28,913 
Navistar International Corp. New (a) 1,101 36,872 
NN, Inc. 486 5,638 
Nordson Corp. 916 112,366 
Oshkosh Corp. 1,290 72,421 
ProPetro Holding Corp. (a) 986 17,403 
Proto Labs, Inc. (a) 421 50,288 
RBC Bearings, Inc. (a) 410 60,549 
Rexnord Corp. (a) 1,759 47,159 
Spartan Motors, Inc. 581 3,910 
SPX Corp. (a) 714 20,934 
SPX Flow, Inc. (a) 728 24,919 
Standex International Corp. 221 17,928 
Sun Hydraulics Corp. 426 19,766 
Tennant Co. 297 18,153 
Terex Corp. 1,838 61,371 
Timken Co. 1,211 47,895 
Titan International, Inc. 797 5,627 
Toro Co. 1,885 106,182 
TriMas Corp. (a) 770 22,677 
Trinity Industries, Inc. 2,628 75,029 
Wabash National Corp. 1,078 16,278 
WABCO Holdings, Inc. (a) 895 96,168 
Wabtec Corp. (b) 1,537 126,065 
Watts Water Technologies, Inc. Class A 476 33,344 
Woodward, Inc. 957 70,473 
  2,852,730 
Marine - 0.1%   
Eagle Bulk Shipping, Inc. (a) 444 2,216 
Kirby Corp. (a) 931 66,976 
Matson, Inc. 741 25,994 
  95,186 
Professional Services - 1.3%   
Acacia Research Corp. (a) 843 2,765 
Asgn, Inc. (a) 843 56,548 
Barrett Business Services, Inc. 132 8,305 
CBIZ, Inc. (a) 933 20,694 
CRA International, Inc. 155 6,533 
Dun & Bradstreet Corp. 634 90,206 
Exponent, Inc. 890 44,909 
Forrester Research, Inc. 159 6,405 
FTI Consulting, Inc. (a) 732 50,589 
Heidrick & Struggles International, Inc. 326 11,250 
Huron Consulting Group, Inc. (a) 370 20,161 
ICF International, Inc. 321 23,638 
InnerWorkings, Inc. (a) 613 4,407 
Insperity, Inc. 654 71,842 
Kelly Services, Inc. Class A (non-vtg.) 493 11,581 
Kforce, Inc. 409 12,605 
Korn/Ferry International 1,004 45,321 
Manpower, Inc. 1,162 88,649 
MISTRAS Group, Inc. (a) 273 5,433 
Navigant Consulting, Inc. 795 17,172 
Resources Connection, Inc. 520 8,486 
Robert Half International, Inc. 2,227 134,800 
TransUnion Holding Co., Inc. 1,514 99,546 
TriNet Group, Inc. (a) 609 28,617 
TrueBlue, Inc. (a) 737 17,194 
WageWorks, Inc. (a) 638 25,399 
Willdan Group, Inc. (a) 137 4,137 
  917,192 
Road & Rail - 0.6%   
AMERCO 94 30,689 
ArcBest Corp. 403 14,959 
Avis Budget Group, Inc. (a) 1,524 42,855 
Covenant Transport Group, Inc. Class A (a) 177 4,430 
Daseke, Inc. (a) 618 3,757 
Genesee & Wyoming, Inc. Class A (a) 1,058 83,825 
Heartland Express, Inc. 723 14,077 
Knight-Swift Transportation Holdings, Inc. Class A 1,151 36,832 
Landstar System, Inc. 722 72,265 
Marten Transport Ltd. 669 12,885 
Ryder System, Inc. 924 51,106 
Saia, Inc. (a) 429 26,967 
Schneider National, Inc. Class B 517 11,307 
Werner Enterprises, Inc. 759 24,432 
YRC Worldwide, Inc. (a) 530 4,378 
  434,764 
Trading Companies & Distributors - 1.1%   
Air Lease Corp. Class A 1,653 62,979 
Aircastle Ltd. 972 18,886 
Applied Industrial Technologies, Inc. 679 44,631 
Beacon Roofing Supply, Inc. (a) 1,042 29,082 
BMC Stock Holdings, Inc. (a) 815 13,643 
CAI International, Inc. (a) 240 5,978 
DXP Enterprises, Inc. (a) 275 8,740 
GATX Corp. 689 51,627 
H&E Equipment Services, Inc. 545 13,129 
HD Supply Holdings, Inc. (a) 3,226 121,201 
Herc Holdings, Inc. (a) 427 13,690 
Kaman Corp. 468 29,727 
MRC Global, Inc. (a) 1,611 25,502 
MSC Industrial Direct Co., Inc. Class A 774 62,740 
Nexeo Solutions, Inc. (a) 1,043 10,899 
Now, Inc. (a) 1,866 23,959 
Rush Enterprises, Inc. Class A 512 18,120 
SiteOne Landscape Supply, Inc. (a) 372 25,311 
Systemax, Inc. 244 7,884 
Textainer Group Holdings Ltd. (a) 417 4,891 
Titan Machinery, Inc. (a) 290 4,133 
Triton International Ltd. 547 17,597 
Univar, Inc. (a) 1,758 43,282 
Veritiv Corp. (a) 165 5,501 
Watsco, Inc. 446 66,088 
WESCO International, Inc. (a) 721 36,180 
  765,400 
Transportation Infrastructure - 0.1%   
Macquarie Infrastructure Co. LLC 1,295 47,850 
TOTAL INDUSTRIALS  10,224,395 
INFORMATION TECHNOLOGY - 14.2%   
Communications Equipment - 1.4%   
ADTRAN, Inc. 821 11,034 
Aerohive Networks, Inc. (a) 440 1,685 
Applied Optoelectronics, Inc. (a) 282 5,536 
Arris International PLC (a) 3,297 81,996 
CalAmp Corp. (a) 660 13,160 
Calix Networks, Inc. (a) 703 5,132 
Carvana Co. Class A (a)(b) 267 10,346 
Ciena Corp. (a) 2,405 75,180 
CommScope Holding Co., Inc. (a) 3,333 80,192 
Comtech Telecommunications Corp. 425 11,866 
EchoStar Holding Corp. Class A (a) 805 32,643 
EMCORE Corp. (a) 450 2,219 
Extreme Networks, Inc. (a) 1,893 10,506 
F5 Networks, Inc. (a) 1,079 189,127 
Finisar Corp. (a) 1,921 32,061 
Harmonic, Inc. (a) 1,406 7,747 
Infinera Corp. (a) 2,512 13,916 
InterDigital, Inc. 585 41,506 
Lumentum Holdings, Inc. (a) 947 51,754 
NETGEAR, Inc. (a) 574 31,846 
NetScout Systems, Inc. (a) 1,590 40,163 
Oclaro, Inc. (a) 2,190 18,002 
Plantronics, Inc. 580 34,203 
Quantenna Communications, Inc. (a) 98 1,760 
Sonus Networks, Inc. (a) 895 6,086 
Ubiquiti Networks, Inc. (b) 433 40,308 
ViaSat, Inc. (a)(b) 892 56,874 
Viavi Solutions, Inc. (a) 3,985 45,947 
  952,795 
Electronic Equipment & Components - 2.7%   
Anixter International, Inc. (a) 494 32,451 
Arrow Electronics, Inc. (a) 1,545 104,612 
Avnet, Inc. 2,204 88,314 
AVX Corp. 782 13,044 
Badger Meter, Inc. 506 24,850 
Belden, Inc. 731 39,511 
Benchmark Electronics, Inc. 835 18,228 
Cardtronics PLC (a) 786 21,348 
Casa Systems, Inc. (a) 1,284 18,490 
Coherent, Inc. (a) 425 52,335 
Control4 Corp. (a) 313 8,739 
CTS Corp. 569 15,187 
Daktronics, Inc. 630 4,605 
Dolby Laboratories, Inc. Class A 983 67,640 
Electro Scientific Industries, Inc. (a) 578 16,762 
ePlus, Inc. (a) 227 19,268 
Fabrinet 628 27,205 
FARO Technologies, Inc. (a) 278 14,050 
Fitbit, Inc. (a)(b) 2,360 11,163 
FLIR Systems, Inc. 2,348 108,736 
II-VI, Inc. (a) 939 34,959 
Insight Enterprises, Inc. (a) 617 31,893 
IPG Photonics Corp. (a) 642 85,739 
Iteris, Inc. (a) 346 1,495 
Itron, Inc. (a) 578 30,137 
Jabil, Inc. 3,210 79,383 
KEMET Corp. 728 15,856 
Keysight Technologies, Inc. (a) 2,931 167,301 
Knowles Corp. (a) 1,519 24,577 
Littelfuse, Inc. 391 70,834 
Maxwell Technologies, Inc. (a)(b) 462 1,358 
Mesa Laboratories, Inc. 57 10,413 
Methode Electronics, Inc. Class A 633 18,737 
MicroVision, Inc. (a)(b) 1,026 1,108 
MTS Systems Corp. 291 13,779 
National Instruments Corp. 1,825 89,370 
Novanta, Inc. (a) 545 31,724 
OSI Systems, Inc. (a) 309 21,370 
Park Electrochemical Corp. 294 5,192 
PC Mall, Inc. (a) 121 2,283 
Plexus Corp. (a) 576 33,638 
Rogers Corp. (a) 312 38,395 
Sanmina Corp. (a) 1,278 32,333 
ScanSource, Inc. (a) 430 16,718 
SYNNEX Corp. 504 39,115 
Tech Data Corp. (a) 610 43,103 
TTM Technologies, Inc. (a) 1,455 17,024 
Vishay Intertechnology, Inc. 2,326 42,566 
Zebra Technologies Corp. Class A (a) 911 151,499 
  1,858,437 
Internet Software & Services - 0.1%   
ANGI Homeservices, Inc. Class A (a)(b) 833 15,944 
BlackLine, Inc. (a) 158 7,328 
Cision Ltd. (a) 686 10,146 
GTT Communications, Inc. (a)(b) 454 16,299 
Yatra Online, Inc. (a) 237 1,052 
  50,769 
IT Services - 2.5%   
Booz Allen Hamilton Holding Corp. Class A 2,569 127,268 
CACI International, Inc. Class A (a) 420 74,953 
Carbonite, Inc. (a) 316 10,810 
Cass Information Systems, Inc. 175 11,568 
Conduent, Inc. (a) 2,945 56,250 
CoreLogic, Inc. (a) 1,491 60,564 
CSG Systems International, Inc. 542 19,024 
Endurance International Group Holdings, Inc. (a) 1,108 10,936 
EPAM Systems, Inc. (a) 775 92,589 
Euronet Worldwide, Inc. (a) 901 100,173 
Everi Holdings, Inc. (a) 1,200 8,640 
EVERTEC, Inc. 1,060 27,645 
ExlService Holdings, Inc. (a) 583 37,370 
First Data Corp. Class A (a) 3,266 61,205 
Genpact Ltd. 2,348 64,359 
GoDaddy, Inc. (a) 862 63,073 
Hackett Group, Inc. 433 8,864 
Internap Network Services Corp. (a) 181 1,551 
Limelight Networks, Inc. (a) 1,582 6,375 
Liveramp Holdings, Inc. (a) 1,338 61,120 
ManTech International Corp. Class A 440 25,203 
Maximus, Inc. 1,117 72,571 
MoneyGram International, Inc. (a) 474 2,010 
MongoDB, Inc. Class A (b) 155 12,633 
NIC, Inc. 1,057 14,069 
Okta, Inc. (a) 334 19,492 
Perficient, Inc. (a) 621 15,537 
Perspecta, Inc. 2,465 60,368 
Presidio, Inc. 278 3,725 
Sabre Corp. 3,580 88,247 
Science Applications International Corp. 776 53,940 
Switch, Inc. Class A 572 5,074 
Sykes Enterprises, Inc. (a) 692 21,224 
Teradata Corp. (a) 2,247 81,791 
The Western Union Co. 7,929 143,039 
Travelport Worldwide Ltd. 2,157 32,269 
Ttec Holdings, Inc. 254 6,330 
Twilio, Inc. Class A (a) 245 18,429 
Unisys Corp. (a) 835 15,372 
Virtusa Corp. (a) 482 23,902 
WEX, Inc. (a) 664 116,837 
  1,736,399 
Semiconductors & Semiconductor Equipment - 2.1%   
Acacia Communications, Inc. (a) 234 8,066 
Advanced Energy Industries, Inc. (a) 673 28,959 
Alpha & Omega Semiconductor Ltd. (a) 304 2,818 
Amkor Technology, Inc. (a) 2,188 15,644 
Axcelis Technologies, Inc. (a) 522 9,010 
AXT, Inc. (a) 591 3,895 
Brooks Automation, Inc. 1,195 37,081 
Cabot Microelectronics Corp. 420 41,000 
Ceva, Inc. (a) 376 9,265 
Cirrus Logic, Inc. (a) 1,106 41,409 
Cohu, Inc. 468 9,734 
Cree, Inc. (a) 1,727 67,042 
CyberOptics Corp. (a) 89 1,881 
Cypress Semiconductor Corp. 5,563 71,985 
Diodes, Inc. (a) 663 20,016 
Entegris, Inc. 2,449 64,996 
First Solar, Inc. (a) 1,347 56,305 
FormFactor, Inc. (a) 1,236 15,129 
Ichor Holdings Ltd. (a)(b) 316 5,609 
Impinj, Inc. (a)(b) 283 5,547 
Inphi Corp. (a) 651 20,832 
Integrated Device Technology, Inc. (a) 2,312 108,225 
Kopin Corp. (a) 1,043 2,326 
Kulicke & Soffa Industries, Inc. 1,217 24,742 
Lattice Semiconductor Corp. (a) 2,088 12,549 
MACOM Technology Solutions Holdings, Inc. (a) 621 8,737 
MaxLinear, Inc. Class A (a) 877 17,023 
MKS Instruments, Inc. 926 68,237 
Monolithic Power Systems, Inc. 647 76,424 
Nanometrics, Inc. (a) 424 13,593 
NeoPhotonics Corp. (a) 491 3,928 
NVE Corp. 86 7,284 
PDF Solutions, Inc. (a) 484 3,872 
Photronics, Inc. (a) 1,181 11,503 
Pixelworks, Inc. (a) 488 2,040 
Power Integrations, Inc. 503 28,329 
Rambus, Inc. (a) 1,931 16,819 
Rudolph Technologies, Inc. (a) 542 11,268 
Semtech Corp. (a) 1,134 50,962 
Silicon Laboratories, Inc. (a) 722 58,865 
SMART Global Holdings, Inc. (a) 76 2,129 
SolarEdge Technologies, Inc. (a) 489 18,939 
SunPower Corp. (a)(b) 913 5,487 
Synaptics, Inc. (a) 596 22,374 
Teradyne, Inc. 3,478 119,817 
Ultra Clean Holdings, Inc. (a) 590 6,207 
Universal Display Corp. (b) 771 94,841 
Veeco Instruments, Inc. (a) 723 6,876 
Versum Materials, Inc. 1,880 59,333 
Xperi Corp. 860 11,180 
  1,410,132 
Software - 5.0%   
2U, Inc. (a) 705 44,352 
8x8, Inc. (a) 1,576 27,091 
A10 Networks, Inc. (a) 709 4,119 
ACI Worldwide, Inc. (a) 2,038 51,133 
Alarm.com Holdings, Inc. (a) 225 10,008 
Altair Engineering, Inc. Class A (a) 355 13,540 
Alteryx, Inc. Class A (a)(b) 325 17,222 
AppFolio, Inc. (a) 178 10,164 
Appian Corp. Class A (a) 98 2,520 
Apptio, Inc. Class A (a) 102 2,642 
Aspen Technology, Inc. (a) 1,332 113,073 
Asure Software, Inc. (a) 142 1,582 
Avaya Holdings Corp. (a) 1,816 29,819 
Benefitfocus, Inc. (a) 250 8,883 
Black Knight, Inc. (a) 402 19,606 
Blackbaud, Inc. 824 59,097 
Bottomline Technologies, Inc. (a) 634 42,250 
Box, Inc. Class A (a) 988 17,784 
CDK Global, Inc. 2,263 129,534 
Cloudera, Inc. (a) 1,408 19,374 
CommVault Systems, Inc. (a) 732 42,617 
Cornerstone OnDemand, Inc. (a) 877 43,192 
Coupa Software, Inc. (a) 521 33,776 
Digimarc Corp. (a) 191 4,800 
Ebix, Inc. 383 21,950 
Ellie Mae, Inc. (a)(b) 581 38,509 
Envestnet, Inc. (a) 747 38,859 
Everbridge, Inc. (a) 293 14,893 
Fair Isaac Corp. (a) 533 102,714 
FireEye, Inc. (a) 2,647 48,943 
Five9, Inc. (a) 671 26,411 
Forescout Technologies, Inc. (a) 361 9,942 
Fortinet, Inc. (a) 2,537 208,491 
Guidewire Software, Inc. (a) 1,272 113,170 
Hortonworks, Inc. (a) 729 13,020 
HubSpot, Inc. (a) 530 71,895 
Imperva, Inc. (a) 488 27,011 
Instructure, Inc. (a) 71 2,651 
j2 Global, Inc. 833 60,676 
LivePerson, Inc. (a) 917 20,724 
LogMeIn, Inc. 904 77,852 
Manhattan Associates, Inc. (a) 1,233 58,863 
MicroStrategy, Inc. Class A (a) 161 20,281 
MINDBODY, Inc. (a) 300 9,552 
Mitek Systems, Inc. (a) 514 4,713 
MobileIron, Inc. (a) 663 3,206 
Model N, Inc. (a) 413 6,344 
Monotype Imaging Holdings, Inc. 736 12,902 
New Relic, Inc. (a) 542 48,374 
Nuance Communications, Inc. (a) 4,424 76,933 
Nutanix, Inc. Class A (a) 318 13,200 
Onespan, Inc. (a) 524 7,690 
Parametric Technology Corp. (a) 1,996 164,490 
Paycom Software, Inc. (a) 695 87,014 
Paylocity Holding Corp. (a) 420 27,632 
Pegasystems, Inc. 624 33,396 
Progress Software Corp. 844 27,126 
Proofpoint, Inc. (a) 736 66,939 
PROS Holdings, Inc. (a) 436 14,353 
Q2 Holdings, Inc. (a) 469 24,965 
QAD, Inc. Class A 175 7,425 
Qualys, Inc. (a) 502 35,762 
Rapid7, Inc. (a) 294 10,655 
RealPage, Inc. (a) 908 48,124 
RingCentral, Inc. (a) 1,045 81,228 
SailPoint Technologies Holding, Inc. (a) 345 8,984 
SendGrid, Inc. (a) 151 5,484 
SPS Commerce, Inc. (a) 295 27,462 
SS&C Technologies Holdings, Inc. 2,941 150,462 
Tableau Software, Inc. (a) 999 106,573 
The Rubicon Project, Inc. (a) 563 1,920 
The Trade Desk, Inc. (a) 191 23,598 
TiVo Corp. 2,079 22,869 
Tyler Technologies, Inc. (a) 574 121,493 
Ultimate Software Group, Inc. (a) 500 133,315 
Upland Software, Inc. (a) 170 5,362 
Varonis Systems, Inc. (a) 273 16,672 
Verint Systems, Inc. (a) 1,077 49,187 
VirnetX Holding Corp. (a) 675 2,228 
VMware, Inc. Class A (a) 1,231 174,051 
Workiva, Inc. (a) 356 12,136 
Zendesk, Inc. (a) 1,285 70,636 
  3,469,488 
Technology Hardware, Storage & Peripherals - 0.4%   
3D Systems Corp. (a)(b) 1,850 22,348 
Avid Technology, Inc. (a) 538 2,851 
Cray, Inc. (a) 719 16,314 
Diebold Nixdorf, Inc. 1,183 4,614 
Eastman Kodak Co. (a)(b) 556 1,357 
Electronics for Imaging, Inc. (a) 794 24,177 
Immersion Corp. (a) 470 4,705 
NCR Corp. (a) 2,116 56,815 
Pure Storage, Inc. Class A (a) 1,431 28,878 
Quantum Corp. (a) 491 1,129 
U.S.A. Technologies, Inc. (a) 720 4,176 
Xerox Corp. 3,682 102,617 
  269,981 
TOTAL INFORMATION TECHNOLOGY  9,748,001 
MATERIALS - 5.1%   
Chemicals - 2.4%   
Advanced Emissions Solutions, Inc. 350 3,465 
AdvanSix, Inc. (a) 529 14,674 
American Vanguard Corp. 464 7,470 
Ashland Global Holdings, Inc. 1,066 78,863 
Axalta Coating Systems Ltd. (a) 3,739 92,279 
Balchem Corp. 547 51,227 
Cabot Corp. 1,079 52,526 
Chase Corp. 122 13,156 
Ferro Corp. (a) 1,435 24,309 
Flotek Industries, Inc. (a) 944 1,709 
H.B. Fuller Co. 857 38,102 
Hawkins, Inc. 173 5,823 
Huntsman Corp. 3,420 74,830 
Ingevity Corp. (a) 728 66,306 
Innophos Holdings, Inc. 339 9,933 
Innospec, Inc. 415 27,772 
Intrepid Potash, Inc. (a) 1,690 6,676 
KMG Chemicals, Inc. 122 9,152 
Koppers Holdings, Inc. (a) 371 9,924 
Kraton Performance Polymers, Inc. (a) 520 14,321 
Kronos Worldwide, Inc. 416 5,836 
LSB Industries, Inc. (a) 327 2,485 
Minerals Technologies, Inc. 606 33,179 
NewMarket Corp. 160 61,754 
Olin Corp. 2,862 57,812 
OMNOVA Solutions, Inc. (a) 791 5,845 
Platform Specialty Products Corp. (a) 3,662 39,623 
PolyOne Corp. 1,449 46,817 
PQ Group Holdings, Inc. (a) 496 7,961 
Quaker Chemical Corp. 229 41,197 
Rayonier Advanced Materials, Inc. 748 9,260 
RPM International, Inc. 2,299 140,630 
Sensient Technologies Corp. 770 49,942 
Stepan Co. 331 27,337 
The Mosaic Co. 6,031 186,599 
The Scotts Miracle-Gro Co. Class A 769 51,323 
Trinseo SA 772 41,595 
Tronox Ltd. Class A 1,141 13,064 
Valvoline, Inc. 3,534 70,397 
Venator Materials PLC (a) 322 2,177 
W.R. Grace & Co. 1,211 78,461 
Westlake Chemical Corp. 645 45,989 
  1,621,800 
Construction Materials - 0.1%   
Eagle Materials, Inc. 836 61,730 
Forterra, Inc. (a) 322 1,452 
Foundation Building Materials, Inc. (a) 214 2,039 
Summit Materials, Inc. 1,848 24,948 
U.S. Concrete, Inc. (a) 252 8,225 
United States Lime & Minerals, Inc. 31 2,325 
  100,719 
Containers & Packaging - 1.1%   
Aptargroup, Inc. 1,078 109,913 
Bemis Co., Inc. 1,615 73,919 
Berry Global Group, Inc. (a) 2,213 96,531 
Crown Holdings, Inc. (a) 2,419 102,300 
Graphic Packaging Holding Co. 5,492 60,467 
Greif, Inc. Class A 434 20,528 
Myers Industries, Inc. 387 6,138 
Owens-Illinois, Inc. (a) 2,813 44,080 
Sealed Air Corp. 3,120 100,963 
Silgan Holdings, Inc. 1,290 30,999 
Sonoco Products Co. 1,721 93,932 
  739,770 
Metals & Mining - 1.1%   
AK Steel Holding Corp. (a)(b) 5,386 19,928 
Alcoa Corp. (a) 2,526 88,385 
Allegheny Technologies, Inc. (a) 1,862 48,207 
Atkore International Group, Inc. (a) 355 6,837 
Carpenter Technology Corp. 805 35,106 
Century Aluminum Co. (a) 875 6,948 
Cleveland-Cliffs, Inc. (b) 3,627 39,027 
Coeur d'Alene Mines Corp. (a) 3,206 15,325 
Commercial Metals Co. 2,006 38,234 
Compass Minerals International, Inc. 585 28,378 
Gold Resource Corp. 1,005 4,352 
Haynes International, Inc. 227 6,574 
Hecla Mining Co. 6,657 15,977 
Kaiser Aluminum Corp. 311 29,660 
Materion Corp. 346 19,663 
McEwen Mining, Inc. (b) 3,941 7,724 
Olympic Steel, Inc. 145 2,735 
Reliance Steel & Aluminum Co. 1,249 98,571 
Royal Gold, Inc. 1,128 86,439 
Ryerson Holding Corp. (a) 226 2,075 
Schnitzer Steel Industries, Inc. Class A 456 12,266 
SunCoke Energy, Inc. 1,126 12,611 
TimkenSteel Corp. (a) 680 7,908 
United States Steel Corp. 3,017 80,041 
Warrior Metropolitan Coal, Inc. 287 8,036 
Worthington Industries, Inc. 760 31,829 
  752,836 
Paper & Forest Products - 0.4%   
Boise Cascade Co. 655 20,167 
Clearwater Paper Corp. (a) 298 7,194 
Domtar Corp. 1,079 49,968 
Kapstone Paper & Packaging Corp. 1,512 52,920 
Louisiana-Pacific Corp. 2,460 53,554 
Mercer International, Inc. (SBI) 737 11,210 
Neenah, Inc. 291 23,414 
P.H. Glatfelter Co. 734 13,139 
Resolute Forest Products 1,552 17,491 
Schweitzer-Mauduit International, Inc. 535 17,077 
Verso Corp. (a) 527 14,814 
  280,948 
TOTAL MATERIALS  3,496,073 
REAL ESTATE - 9.8%   
Equity Real Estate Investment Trusts (REITs) - 9.2%   
Acadia Realty Trust (SBI) 1,412 39,310 
Agree Realty Corp. 443 25,371 
Alexander & Baldwin, Inc. 809 15,808 
Alexanders, Inc. 62 19,531 
American Assets Trust, Inc. 714 27,389 
American Campus Communities, Inc. 2,279 90,043 
American Homes 4 Rent Class A 3,729 78,570 
Americold Realty Trust 809 20,023 
Apartment Investment & Management Co. Class A 2,703 116,337 
Apple Hospitality (REIT), Inc. 2,676 43,271 
Armada Hoffler Properties, Inc. 698 10,456 
Ashford Hospitality Trust, Inc. 1,395 7,184 
Bluerock Residential Growth (REIT), Inc. 402 3,807 
Braemar Hotels & Resorts, Inc. 476 5,065 
Brandywine Realty Trust (SBI) 3,046 42,827 
Brixmor Property Group, Inc. 4,533 73,435 
Camden Property Trust (SBI) 1,507 136,037 
CareTrust (REIT), Inc. 1,107 19,550 
CatchMark Timber Trust, Inc. 658 5,823 
CBL & Associates Properties, Inc. (b) 2,979 9,831 
Cedar Realty Trust, Inc. 1,512 5,700 
Chatham Lodging Trust 694 13,533 
Chesapeake Lodging Trust 1,048 30,801 
City Office REIT, Inc. 486 5,356 
Colony Capital, Inc. 9,590 56,293 
Columbia Property Trust, Inc. 2,145 48,155 
Community Healthcare Trust, Inc. 243 7,222 
CorEnergy Infrastructure Trust, Inc. 184 6,648 
CorePoint Lodging, Inc. 695 11,377 
CoreSite Realty Corp. 586 55,002 
Corporate Office Properties Trust (SBI) 1,643 42,455 
Corrections Corp. of America 2,038 45,773 
Cousins Properties, Inc. 5,922 49,212 
CubeSmart 3,114 90,244 
CyrusOne, Inc. 1,284 68,347 
DDR Corp. 2,681 33,325 
DiamondRock Hospitality Co. 3,400 35,530 
Douglas Emmett, Inc. 2,480 89,751 
Easterly Government Properties, Inc. 411 7,468 
EastGroup Properties, Inc. 570 54,600 
Empire State Realty Trust, Inc. 2,134 33,845 
EPR Properties 1,096 75,339 
Equity Commonwealth 2,149 63,997 
Equity Lifestyle Properties, Inc. 1,377 130,388 
Farmland Partners, Inc. (b) 554 3,795 
Federal Realty Investment Trust (SBI) 1,251 155,187 
First Industrial Realty Trust, Inc. 2,025 62,168 
Forest City Realty Trust, Inc. Class A 3,731 93,872 
Four Corners Property Trust, Inc. 1,031 26,888 
Franklin Street Properties Corp. 1,920 13,363 
Front Yard Residential Corp. Class B 922 8,547 
Gaming & Leisure Properties 3,341 112,558 
Getty Realty Corp. 437 11,725 
Gladstone Commercial Corp. 359 6,817 
Global Medical REIT, Inc. 281 2,574 
Global Net Lease, Inc. 997 20,189 
Government Properties Income Trust 1,211 10,693 
Healthcare Realty Trust, Inc. 1,975 55,024 
Healthcare Trust of America, Inc. 2,454 64,442 
Hersha Hospitality Trust 732 12,854 
Highwoods Properties, Inc. (SBI) 1,729 73,725 
Hospitality Properties Trust (SBI) 2,831 72,530 
Hudson Pacific Properties, Inc. 2,527 76,568 
Independence Realty Trust, Inc. 1,065 10,554 
Industrial Logistics Properties Trust 352 7,600 
InfraReit, Inc. 637 13,390 
Investors Real Estate Trust 2,157 11,713 
Invitation Homes, Inc. 1,325 28,991 
iStar Financial, Inc. 1,248 13,104 
JBG SMITH Properties 1,610 60,343 
Jernigan Capital, Inc. 244 4,775 
Kilroy Realty Corp. 1,683 115,925 
Kimco Realty Corp. 7,356 118,358 
Kite Realty Group Trust 1,468 23,253 
Lamar Advertising Co. Class A 1,427 104,628 
LaSalle Hotel Properties (SBI) 1,950 64,370 
Lexington Corporate Properties Trust 3,743 29,083 
Liberty Property Trust (SBI) 2,539 106,308 
Life Storage, Inc. 804 75,705 
LTC Properties, Inc. 660 28,228 
Mack-Cali Realty Corp. 1,565 31,770 
MedEquities Realty Trust, Inc. 311 2,572 
Medical Properties Trust, Inc. 5,524 82,087 
Monmouth Real Estate Investment Corp. Class A 1,220 18,251 
National Health Investors, Inc. 691 50,761 
National Retail Properties, Inc. 2,534 118,465 
National Storage Affiliates Trust 740 19,706 
New Senior Investment Group, Inc. 1,499 8,574 
NexPoint Residential Trust, Inc. 310 11,048 
NorthStar Realty Europe Corp. 991 13,299 
Omega Healthcare Investors, Inc. 3,366 112,256 
Outfront Media, Inc. 2,365 41,908 
Paramount Group, Inc. 3,015 43,084 
Park Hotels & Resorts, Inc. 1,968 57,210 
Pebblebrook Hotel Trust (b) 1,234 41,598 
Pennsylvania Real Estate Investment Trust (SBI) (b) 1,260 11,277 
Physicians Realty Trust 2,354 39,029 
Piedmont Office Realty Trust, Inc. Class A 2,523 45,464 
Potlatch Corp. 699 25,339 
Preferred Apartment Communities, Inc. Class A 478 8,054 
PS Business Parks, Inc. 339 44,273 
QTS Realty Trust, Inc. Class A 830 31,806 
Ramco-Gershenson Properties Trust (SBI) 1,403 18,632 
Rayonier, Inc. 2,120 64,024 
Regency Centers Corp. 1,799 113,985 
Retail Opportunity Investments Corp. 1,876 32,999 
Retail Properties America, Inc. 4,119 50,540 
Rexford Industrial Realty, Inc. 1,147 36,325 
RLJ Lodging Trust 2,111 41,038 
Ryman Hospitality Properties, Inc. 883 68,512 
Sabra Health Care REIT, Inc. 1,137 24,616 
Safety Income and Growth, Inc. 154 2,769 
Saul Centers, Inc. 211 10,077 
Select Income REIT 1,091 20,631 
Senior Housing Properties Trust (SBI) 4,121 66,224 
Seritage Growth Properties (b) 419 15,930 
Spirit MTA REIT 859 9,200 
Spirit Realty Capital, Inc. 8,379 65,524 
Stag Industrial, Inc. 1,309 34,636 
Store Capital Corp. 2,683 77,887 
Summit Hotel Properties, Inc. 1,479 17,038 
Sun Communities, Inc. 1,144 114,938 
Sunstone Hotel Investors, Inc. 3,748 54,234 
Tanger Factory Outlet Centers, Inc. 1,655 36,840 
Taubman Centers, Inc. 1,048 57,650 
Terreno Realty Corp. 813 30,431 
The GEO Group, Inc. 1,918 42,407 
The Macerich Co. 2,086 107,679 
TIER REIT, Inc. 822 17,813 
UDR, Inc. 4,612 180,744 
UMH Properties, Inc. 504 7,222 
Uniti Group, Inc. 2,429 46,491 
Universal Health Realty Income Trust (SBI) 218 13,974 
Urban Edge Properties 1,549 31,739 
Urstadt Biddle Properties, Inc. Class A 531 10,572 
VEREIT, Inc. 16,839 123,430 
Washington Prime Group, Inc. 3,106 19,878 
Washington REIT (SBI) 1,272 35,451 
Weingarten Realty Investors (SBI) 2,012 56,577 
Whitestone REIT Class B 553 7,443 
WP Carey, Inc. 1,828 120,666 
Xenia Hotels & Resorts, Inc. 1,820 37,401 
  6,331,874 
Real Estate Management & Development - 0.6%   
Altisource Portfolio Solutions SA (a)(b) 224 5,652 
Colony NorthStar Credit Real Estate, Inc. 1,447 30,879 
Forestar Group, Inc. (a) 472 8,496 
HFF, Inc. 601 22,087 
Howard Hughes Corp. (a) 619 69,031 
Jones Lang LaSalle, Inc. 782 103,427 
Kennedy-Wilson Holdings, Inc. 1,577 29,931 
Marcus & Millichap, Inc. (a) 239 8,298 
Newmark Group, Inc. 1,990 19,383 
RE/MAX Holdings, Inc. 319 11,927 
Realogy Holdings Corp. (b) 2,477 47,236 
Retail Value, Inc. (a) 267 7,479 
Tejon Ranch Co. (a) 282 5,358 
The St. Joe Co. (a) 1,294 19,656 
  388,840 
TOTAL REAL ESTATE  6,720,714 
UTILITIES - 4.7%   
Electric Utilities - 1.7%   
Allete, Inc. 856 63,344 
Alliant Energy Corp. 3,983 171,189 
El Paso Electric Co. 690 39,365 
Evergy, Inc. 2,439 136,560 
Hawaiian Electric Industries, Inc. 1,866 69,602 
IDACORP, Inc. 869 81,043 
MGE Energy, Inc. 605 37,800 
OGE Energy Corp. 3,440 124,356 
Otter Tail Corp. 675 30,422 
Pinnacle West Capital Corp. 1,927 158,496 
PNM Resources, Inc. 1,380 53,006 
Portland General Electric Co. 1,537 69,288 
Spark Energy, Inc. Class A, 202 1,507 
Vistra Energy Corp. (a) 4,876 110,344 
  1,146,322 
Gas Utilities - 1.1%   
Atmos Energy Corp. 1,790 166,613 
Chesapeake Utilities Corp. 280 22,246 
National Fuel Gas Co. 1,466 79,589 
New Jersey Resources Corp. 1,488 67,109 
Northwest Natural Holding Co. 496 32,136 
ONE Gas, Inc. 900 71,019 
South Jersey Industries, Inc. (b) 1,372 40,529 
Southwest Gas Holdings, Inc. 820 63,361 
Spire, Inc. 787 57,120 
UGI Corp. 2,975 157,854 
  757,576 
Independent Power and Renewable Electricity Producers - 0.7%   
NRG Energy, Inc. 5,447 197,127 
NRG Yield, Inc.:   
Class A 677 13,147 
Class C 985 19,316 
Ormat Technologies, Inc. 611 31,265 
Pattern Energy Group, Inc. (b) 1,148 20,572 
Terraform Power, Inc. 1,265 14,257 
The AES Corp. 11,382 165,950 
  461,634 
Multi-Utilities - 0.9%   
Avangrid, Inc. 952 44,754 
Avista Corp. 1,099 56,511 
Black Hills Corp. 925 55,038 
MDU Resources Group, Inc. 3,372 84,165 
NiSource, Inc. 5,577 141,433 
NorthWestern Energy Corp. 826 48,536 
SCANA Corp. 2,465 98,723 
Unitil Corp. 255 12,115 
Vectren Corp. 1,408 100,714 
  641,989 
Water Utilities - 0.3%   
American States Water Co. 635 38,875 
Aqua America, Inc. 3,055 99,379 
AquaVenture Holdings Ltd. (a) 98 1,642 
Cadiz, Inc. (a) 414 4,604 
California Water Service Group 836 35,112 
Connecticut Water Service, Inc. 187 12,925 
Middlesex Water Co. 294 13,230 
Select Energy Services, Inc. Class A (a) 297 2,839 
SJW Corp. 269 16,336 
  224,942 
TOTAL UTILITIES  3,232,463 
TOTAL COMMON STOCKS   
(Cost $72,679,977)  68,388,590 
Money Market Funds - 5.6%   
Fidelity Cash Central Fund, 2.23% (c) 1,671,301 1,671,636 
Fidelity Securities Lending Cash Central Fund 2.23% (c)(d) 2,145,820 2,146,035 
TOTAL MONEY MARKET FUNDS   
(Cost $3,817,671)  3,817,671 
TOTAL INVESTMENT IN SECURITIES - 105.3%   
(Cost $76,497,648)  72,206,261 
NET OTHER ASSETS (LIABILITIES) - (5.3)%  (3,616,911) 
NET ASSETS - 100%  $68,589,350 

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) 3 Dec. 2018 $226,785 $3,300 $3,300 

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) 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, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.

 (d) Investment made with cash collateral received from securities on loan.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund Income earned 
Fidelity Cash Central Fund $4,628 
Fidelity Securities Lending Cash Central Fund 686 
Total $5,314 

Amounts in the 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.

Investment Valuation

The following is a summary of the inputs used, as of October 31, 2018, 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 $2,527,695 $2,527,695 $-- $-- 
Consumer Discretionary 9,361,291 9,361,291 -- -- 
Consumer Staples 2,248,758 2,248,758 -- -- 
Energy 2,778,899 2,778,899 -- -- 
Financials 10,285,313 10,285,313 -- -- 
Health Care 7,764,988 7,764,988 -- -- 
Industrials 10,224,395 10,224,395 -- -- 
Information Technology 9,748,001 9,748,001 -- -- 
Materials 3,496,073 3,496,073 -- -- 
Real Estate 6,720,714 6,720,714 -- -- 
Utilities 3,232,463 3,232,463 -- -- 
Money Market Funds 3,817,671 3,817,671 -- -- 
Total Investments in Securities: $72,206,261 $72,206,261 $-- $-- 
Derivative Instruments:     
Assets     
Futures Contracts $3,300 $3,300 $-- $-- 
Total Assets $3,300 $3,300 $-- $-- 
Total Derivative Instruments: $3,300 $3,300 $-- $-- 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of October 31, 2018. 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) $3,300 $0 
Total Equity Risk 3,300 0 
Total Value of Derivatives $3,300 $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 net unrealized appreciation (depreciation).

See accompanying notes which are an integral part of the financial statements.


Fidelity ZERO℠ Extended Market Index Fund

Financial Statements

Statement of Assets and Liabilities

  October 31, 2018 
Assets   
Investment in securities, at value (including securities loaned of $2,090,266) — See accompanying schedule:
Unaffiliated issuers (cost $72,679,977) 		$68,388,590  
Fidelity Central Funds (cost $3,817,671) 3,817,671  
Total Investment in Securities (cost $76,497,648)  $72,206,261 
Segregated cash with brokers for derivative instruments  7,100 
Foreign currency held at value (cost $87)  87 
Receivable for investments sold  119,597 
Receivable for fund shares sold  1,905,521 
Dividends receivable  28,480 
Distributions receivable from Fidelity Central Funds  3,331 
Total assets  74,270,377 
Liabilities   
Payable to custodian bank $112,760  
Payable for investments purchased 3,405,853  
Payable for fund shares redeemed 16,342  
Payable for daily variation margin on futures contracts 37  
Collateral on securities loaned 2,146,035  
Total liabilities  5,681,027 
Net Assets  $68,589,350 
Net Assets consist of:   
Paid in capital  $72,824,145 
Total distributable earnings (loss)  (4,234,795) 
Net Assets, for 7,633,382 shares outstanding  $68,589,350 
Net Asset Value, offering price and redemption price per share ($68,589,350 ÷ 7,633,382 shares)  $8.99 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  For the period
September 13, 2018 (commencement of operations) to
October 31, 2018 
Investment Income   
Dividends  $61,045 
Income from Fidelity Central Funds  5,314 
Total income  66,359 
Expenses   
Independent trustees' fees and expenses $5  
Total expenses  5 
Net investment income (loss)  66,354 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (1,025)  
Foreign currency transactions 7  
Futures contracts (10,642)  
Total net realized gain (loss)  (11,660) 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (4,291,387)  
Assets and liabilities in foreign currencies 1  
Futures contracts 3,300  
Total change in net unrealized appreciation (depreciation)  (4,288,086) 
Net gain (loss)  (4,299,746) 
Net increase (decrease) in net assets resulting from operations  $(4,233,392) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 For the period
September 13, 2018 (commencement of operations) to
October 31, 2018 
Increase (Decrease) in Net Assets  
Operations  
Net investment income (loss) $66,354 
Net realized gain (loss) (11,660) 
Change in net unrealized appreciation (depreciation) (4,288,086) 
Net increase (decrease) in net assets resulting from operations (4,233,392) 
Share transactions  
Proceeds from sales of shares 75,495,917 
Cost of shares redeemed (2,673,175) 
Net increase (decrease) in net assets resulting from share transactions 72,822,742 
Total increase (decrease) in net assets 68,589,350 
Net Assets  
Beginning of period – 
End of period $68,589,350 
Other Information  
Shares  
Sold 7,909,281 
Redeemed (275,899) 
Net increase (decrease) 7,633,382 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity ZERO Extended Market Index Fund

  
Year ended October 31, 2018 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .02 
Net realized and unrealized gain (loss) (1.03) 
Total from investment operations (1.01) 
Net asset value, end of period $8.99 
Total ReturnC (10.10)% 
Ratios to Average Net AssetsD,E  
Expenses before reductionsF - %G 
Expenses net of fee waivers, if anyF - %G 
Expenses net of all reductionsF - %G 
Net investment income (loss) 1.31%G 
Supplemental Data  
Net assets, end of period (000 omitted) $68,589 
Portfolio turnover rateH 0%I,J 

 A For the period September 13, 2018 (commencement of operations) to October 31, 2018.

 B Calculated based on average shares outstanding during the period.

 C Total returns for periods of less than one year are not annualized.

 D Fees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

 E Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.

 F Amount represents less than .005%.

 G Annualized

 H Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

 I Amount not annualized.

 J Amount represents less than 1%.

See accompanying notes which are an integral part of the financial statements.


Fidelity ZERO℠ International Index Fund

Investment Summary (Unaudited)

Top Ten Stocks as of October 31, 2018

 % of fund's net assets 
Nestle SA (Reg. S) (Switzerland, Food Products) 1.2 
Novartis AG (Switzerland, Pharmaceuticals) 1.1 
Samsung Electronics Co. Ltd. (Korea (South), Technology Hardware, Storage & Peripherals) 1.0 
Tencent Holdings Ltd. (Cayman Islands, Interactive Media & Services) 0.9 
Toyota Motor Corp. (Japan, Automobiles) 0.8 
Roche Holding AG (participation certificate) (Switzerland, Pharmaceuticals) 0.8 
HSBC Holdings PLC (United Kingdom) (United Kingdom, Banks) 0.8 
Alibaba Group Holding Ltd. sponsored ADR (Cayman Islands, Internet & Direct Marketing Retail) 0.8 
Total SA (France, Oil, Gas & Consumable Fuels) 0.7 
Royal Dutch Shell PLC Class A (United Kingdom) (United Kingdom, Oil, Gas & Consumable Fuels) 0.7 
 8.8 

Top Market Sectors as of October 31, 2018

 % of fund's net assets 
Financials 22.8 
Industrials 11.5 
Consumer Discretionary 10.4 
Consumer Staples 9.1 
Health Care 8.1 
Information Technology 8.1 
Materials 7.6 
Communication Services 7.1 
Energy 7.0 
Real Estate 2.6 

Geographic Diversification (% of fund's net assets)

As of October 31, 2018 
   Japan 19.0% 
   United Kingdom 10.2% 
   Canada 6.7% 
   France 6.0% 
   Switzerland 5.5% 
   Germany 5.4% 
   Australia 4.4% 
   Korea (South) 3.7% 
   Cayman Islands 3.4% 
   Other* 35.7% 


 * Includes Short-Term investments and Net Other Assets (Liabilities).

Percentages are based on country or territory of incorporation and are adjusted for the effect of futures contracts, if applicable.

Asset Allocation (% of fund's net assets)

As of October 31, 2018 
   Stocks and Equity Futures 100.1% 
 Short-Term Investments and Net Other Assets (Liabilities)* (0.1)% 


 * Short-Term Investments and Net Other Assets (Liabilities) are not included in the pie chart

Fidelity ZERO℠ International Index Fund

Schedule of Investments October 31, 2018

Showing Percentage of Net Assets

Common Stocks - 96.1%   
 Shares Value 
Australia - 4.4%   
AGL Energy Ltd. 12,708 $161,985 
ALS Ltd. 10,132 58,548 
Alumina Ltd. 44,695 80,709 
Amcor Ltd. 21,574 203,192 
AMP Ltd. 56,242 98,375 
Ansell Ltd. 3,136 51,477 
APA Group unit 20,832 141,621 
Aristocrat Leisure Ltd. 11,186 209,916 
Atlas Arteria Ltd. unit 11,539 55,810 
Australia & New Zealand Banking Group Ltd. 54,485 1,000,472 
Bank of Queensland Ltd. 8,529 58,284 
Bendigo & Adelaide Bank Ltd. 9,630 69,763 
BHP Billiton Ltd. 59,486 1,372,559 
BlueScope Steel Ltd. 10,799 109,892 
Boral Ltd. 22,650 89,982 
Brambles Ltd. 29,640 222,909 
Caltex Australia Ltd. 5,004 100,142 
Carsales.com Ltd. 5,095 44,018 
Challenger Ltd. 10,932 79,428 
Cimic Group Ltd. 1,555 52,074 
Coca-Cola Amatil Ltd. 10,272 72,087 
Cochlear Ltd. 1,081 135,939 
Commonwealth Bank of Australia 31,927 1,565,228 
Computershare Ltd. 9,382 131,349 
Crown Ltd. 6,143 54,421 
CSL Ltd. 8,540 1,136,949 
DEXUS Property Group unit 18,218 131,591 
Dominos Pizza Enterprises Ltd. 1,263 48,306 
Downer EDI Ltd. 7,446 36,488 
Evolution Mining Ltd. 26,934 56,838 
Flight Centre Travel Group Ltd. 809 26,582 
Fortescue Metals Group Ltd. 32,927 93,269 
Goodman Group unit 29,570 217,357 
Healthscope Ltd. 33,348 49,828 
Iluka Resources Ltd. 8,973 51,215 
Incitec Pivot Ltd. 31,655 87,424 
Insurance Australia Group Ltd. 43,268 209,273 
IOOF Holdings Ltd. 5,254 25,337 
JB Hi-Fi Ltd. 2,123 34,578 
Lendlease Group unit 10,901 135,864 
Link Administration Holdings Ltd. 5,677 30,151 
Macquarie Group Ltd. 6,326 525,028 
Medibank Private Ltd. 53,004 104,722 
Metcash Ltd. 14,796 28,814 
Mineral Resources Ltd. 2,600 26,237 
Mirvac Group unit 72,278 111,069 
National Australia Bank Ltd. 49,105 879,447 
Newcrest Mining Ltd. 14,232 207,716 
NIB Holdings Ltd. 8,402 32,962 
Northern Star Resources Ltd. 11,958 74,350 
Orica Ltd. 6,169 74,965 
Origin Energy Ltd. (a) 33,089 170,819 
Orora Ltd. 23,878 56,815 
Qantas Airways Ltd. 38,199 147,967 
QBE Insurance Group Ltd. 25,757 206,475 
Qube Holdings Ltd. 19,070 33,086 
Ramsay Health Care Ltd. 2,469 98,296 
realestate.com.au Ltd. 912 46,255 
Rio Tinto Ltd. 7,846 424,489 
Santos Ltd. 35,078 164,941 
Scentre Group unit 98,245 276,897 
SEEK Ltd. 6,705 84,802 
Sonic Healthcare Ltd. 8,011 127,926 
South32 Ltd. 100,096 256,596 
SP AusNet 32,272 39,079 
Spark Infrastructure Group unit 34,572 56,309 
Stockland Corp. Ltd. unit 45,831 117,163 
Suncorp Group Ltd. 23,951 237,622 
Sydney Airport unit 42,821 195,285 
Tabcorp Holdings Ltd. 12,853 42,051 
Telstra Corp. Ltd. 231,296 504,480 
The GPT Group unit 33,651 122,963 
The Star Entertainment Group Ltd. 16,355 54,898 
Transurban Group unit 37,385 300,217 
Treasury Wine Estates Ltd. 14,146 151,464 
Vicinity Centres unit 61,876 116,116 
Wesfarmers Ltd. 20,789 686,327 
Westpac Banking Corp. 62,183 1,181,211 
Whitehaven Coal Ltd. 14,072 48,331 
Woodside Petroleum Ltd. 13,383 330,279 
Woolworths Group Ltd. 23,418 471,468 
WorleyParsons Ltd. 6,529 67,457 
TOTAL AUSTRALIA  17,474,624 
Austria - 0.2%   
ams AG 1,189 46,254 
Andritz AG 1,349 69,919 
BAWAG Group AG 617 26,654 
BUWOG AG 1,060 36,018 
CA Immobilien Anlagen AG 1,569 51,075 
Erste Group Bank AG 5,732 233,725 
IMMOFINANZ Immobilien Anlagen AG 1,321 31,511 
Lenzing AG 84 7,626 
Oesterreichische Post AG 715 29,057 
OMV AG 2,660 148,021 
Osterreichische Elektrizitatswirtschafts AG 2,407 97,056 
Raiffeisen International Bank-Holding AG 2,264 61,800 
UNIQA Insurance Group AG 1,141 10,662 
Voestalpine AG 2,126 75,588 
Wienerberger AG 2,066 47,550 
TOTAL AUSTRIA  972,516 
Bailiwick of Jersey - 0.8%   
Experian PLC 17,718 407,500 
Ferguson PLC 4,518 305,088 
Glencore Xstrata PLC 225,979 920,987 
Polymetal International PLC 4,026 37,268 
Randgold Resources Ltd. 1,777 139,768 
Shire PLC 16,847 1,016,732 
WPP PLC 24,964 282,486 
TOTAL BAILIWICK OF JERSEY  3,109,829 
Belgium - 0.8%   
Ackermans & Van Haaren SA 373 58,767 
Ageas 3,785 189,532 
Anheuser-Busch InBev SA NV 16,185 1,197,065 
Bpost SA 1,601 24,317 
Cofinimmo SA 416 49,804 
Colruyt NV 1,195 69,462 
Galapagos Genomics NV (a) 874 89,793 
Groupe Bruxelles Lambert SA 1,460 135,899 
KBC Ancora 638 29,512 
KBC Groep NV 6,370 439,392 
Proximus 2,784 71,107 
Sofina SA 289 55,320 
Solvay SA Class A 1,421 161,996 
Telenet Group Holding NV 983 47,742 
UCB SA 2,577 216,519 
Umicore SA 3,638 171,375 
TOTAL BELGIUM  3,007,602 
Bermuda - 0.5%   
Beijing Enterprises Water Group Ltd. 94,000 47,827 
Brilliance China Automotive Holdings Ltd. 56,000 48,845 
Cheung Kong Infrastructure Holdings Ltd. 14,000 102,296 
China Gas Holdings Ltd. 44,000 139,149 
China Resource Gas Group Ltd. 16,000 61,209 
Credicorp Ltd. (United States) 1,243 280,558 
Dairy Farm International Holdings Ltd. 5,800 52,374 
GasLog Ltd. 871 17,821 
Golar LNG Ltd. 1,980 53,024 
Haier Electronics Group Co. Ltd. 24,000 50,130 
Hiscox Ltd. 5,787 120,422 
Hongkong Land Holdings Ltd. 21,396 126,664 
Jardine Matheson Holdings Ltd. 5,106 294,667 
Jardine Strategic Holdings Ltd. 3,400 113,900 
Kerry Properties Ltd. 8,500 26,718 
Kingston Financial Group Ltd. 32,000 7,386 
Kunlun Energy Co. Ltd. 56,000 63,556 
Landing International Development Ltd. (a) 6,000 1,247 
Li & Fung Ltd. 112,000 22,137 
Nine Dragons Paper (Holdings) Ltd. 33,000 31,477 
NWS Holdings Ltd. 30,000 59,373 
Shangri-La Asia Ltd. 26,000 35,476 
Vtech Holdings Ltd. 3,400 39,888 
Yue Yuen Industrial (Holdings) Ltd. 12,000 32,823 
TOTAL BERMUDA  1,828,967 
Brazil - 1.0%   
Ambev SA 82,100 360,477 
Banco Bradesco SA 24,900 202,398 
Banco do Brasil SA 21,200 243,531 
BB Seguridade Participacoes SA 12,800 91,077 
BM&F BOVESPA SA 33,900 241,759 
BR Malls Participacoes SA 10,300 35,150 
Brasil Foods SA (a) 9,900 58,259 
CCR SA 16,700 49,227 
Centrais Eletricas Brasileiras SA (Electrobras) (a) 8,300 52,412 
Cielo SA 21,200 75,195 
Companhia de Saneamento Basico do Estado de Sao Paulo (SABESP) 6,600 49,569 
Companhia Siderurgica Nacional SA (CSN) 10,300 26,487 
Cosan SA Industria e Comercio 3,200 27,731 
CVC Brasil Operadora e Agencia de Viagens SA 2,400 36,501 
Drogasil SA 3,600 60,769 
Embraer SA 10,900 61,302 
ENGIE Brasil Energia SA 2,900 31,014 
Equatorial Energia SA 3,800 69,424 
Estacio Participacoes SA 5,700 35,427 
Fibria Celulose SA 4,100 79,158 
Hypermarcas SA 6,400 51,214 
IRB Brasil Resseguros SA 2,400 46,730 
JBS SA 16,300 44,895 
Klabin SA unit 13,300 66,723 
Kroton Educacional SA 27,000 82,854 
Localiza Rent A Car SA 9,300 71,846 
Lojas Renner SA 13,500 136,397 
M. Dias Branco SA 2,500 29,874 
Multiplan Empreendimentos Imobiliarios SA 8,100 50,060 
Natura Cosmeticos SA 3,500 30,650 
Petrobras Distribuidora SA 4,900 31,574 
Petroleo Brasileiro SA - Petrobras (ON) 50,500 411,436 
Qualicorp SA 2,200 8,513 
Rumo SA (a) 20,300 90,822 
Sul America SA unit 3,900 25,990 
Suzano Papel e Celulose SA 7,600 77,297 
Terna Participacoes SA unit 6,000 35,889 
TIM Participacoes SA 14,300 44,535 
Ultrapar Participacoes SA 8,200 97,501 
Vale SA 21,900 333,723 
Weg SA 18,900 91,415 
TOTAL BRAZIL  3,746,805 
British Virgin Islands - 0.0%   
Mail.Ru Group Ltd. GDR (Reg. S) (a) 2,097 55,864 
Canada - 6.5%   
Agnico Eagle Mines Ltd. (Canada) 4,307 152,133 
Air Canada (a) 5,704 108,235 
Algonquin Power & Utilities Corp. 7,704 76,897 
Alimentation Couche-Tard, Inc. Class B (sub. vtg.) 7,821 373,509 
AltaGas Ltd. 3,602 45,283 
ARC Resources Ltd. 7,232 67,351 
ATCO Ltd. Class I (non-vtg.) 1,696 49,445 
B2Gold Corp. (a) 17,674 43,633 
Bank of Montreal 11,787 881,305 
Bank of Nova Scotia 22,261 1,194,682 
Barrick Gold Corp. 21,955 275,011 
Bausch Health Cos., Inc. (Canada) (a) 5,761 131,812 
BCE, Inc. 16,216 627,601 
BlackBerry Ltd. (a) 9,520 87,864 
Bombardier, Inc. Class B (sub. vtg.) (a) 37,270 90,312 
Brookfield Asset Management, Inc. Class A 16,169 659,804 
CAE, Inc. 4,894 86,322 
Cameco Corp. 7,604 81,444 
Canadian Imperial Bank of Commerce 7,098 612,937 
Canadian National Railway Co. 14,250 1,218,197 
Canadian Natural Resources Ltd. 20,584 564,772 
Canadian Pacific Railway Ltd. 2,731 560,058 
Canadian Tire Ltd. Class A (non-vtg.) 1,304 146,739 
Canadian Utilities Ltd. Class A (non-vtg.) 2,552 60,541 
Canadian Western Bank, Edmonton 2,016 46,891 
CCL Industries, Inc. Class B 2,716 114,256 
Cenovus Energy, Inc. (Canada) 15,731 133,118 
CGI Group, Inc. Class A (sub. vtg.) (a) 5,105 315,269 
CI Financial Corp. 5,729 84,731 
Constellation Software, Inc. 369 253,954 
Crescent Point Energy Corp. 10,819 51,118 
Dollarama, Inc. 6,076 168,048 
Element Financial Corp. 7,859 46,266 
Emera, Inc. 3,896 120,214 
Empire Co. Ltd. Class A (non-vtg.) 3,551 64,603 
Enbridge Income Fund Holdings, Inc. 1,838 42,542 
Enbridge, Inc. 16,602 517,311 
Encana Corp. 18,934 193,302 
Enerplus Corp. 4,144 38,561 
Fairfax Financial Holdings Ltd. (sub. vtg.) 459 223,041 
Finning International, Inc. 3,568 74,100 
First Capital Realty, Inc. 2,286 34,105 
First Quantum Minerals Ltd. 13,131 131,066 
Fortis, Inc. 7,462 246,570 
Franco-Nevada Corp. 3,368 210,351 
George Weston Ltd. 814 59,205 
Gildan Activewear, Inc. 4,352 130,086 
Goldcorp, Inc. 16,260 146,858 
Great-West Lifeco, Inc. 5,261 120,730 
H&R (REIT) unit 5,737 86,766 
Husky Energy, Inc. 5,822 82,303 
Hydro One Ltd. (b) 2,805 40,803 
IAMGOLD Corp. (a) 8,970 30,798 
IGM Financial, Inc. 1,417 34,799 
Imperial Oil Ltd. 4,841 151,211 
Industrial Alliance Insurance and Financial Services, Inc. 2,203 77,882 
Intact Financial Corp. 2,587 204,394 
Inter Pipeline Ltd. 6,976 113,136 
Keyera Corp. 3,907 97,345 
Kinross Gold Corp. (a) 24,917 64,732 
Kirkland Lake Gold Ltd. 3,276 64,278 
Linamar Corp. 736 30,475 
Loblaw Companies Ltd. 4,005 200,303 
Lundin Mining Corp. 13,508 55,512 
Magna International, Inc. Class A (sub. vtg.) 6,925 340,924 
Manulife Financial Corp. 36,975 582,241 
Maxar Technologies Ltd. 413 6,174 
Methanex Corp. 1,846 119,542 
Metro, Inc. Class A (sub. vtg.) 4,550 142,778 
National Bank of Canada 6,173 280,222 
Nfi Group, Inc. 1,063 35,860 
Nutrien Ltd. 12,028 636,736 
Onex Corp. (sub. vtg.) 1,706 112,161 
Open Text Corp. 4,934 166,559 
Pan American Silver Corp. 2,557 37,537 
Parex Resources, Inc. (a) 3,225 46,962 
Parkland Fuel Corp. 1,941 65,184 
Pembina Pipeline Corp. 7,273 235,242 
Power Corp. of Canada (sub. vtg.) 6,990 144,319 
Power Financial Corp. 4,630 99,708 
PrairieSky Royalty Ltd. 4,294 65,236 
Quebecor, Inc. Class B (sub. vtg.) 3,640 71,393 
Restaurant Brands International, Inc. 4,425 242,418 
RioCan (REIT) 6,890 125,611 
Ritchie Brothers Auctioneers, Inc. 2,239 75,311 
Rogers Communications, Inc. Class B (non-vtg.) 6,680 343,984 
Royal Bank of Canada 27,278 1,987,547 
Saputo, Inc. 4,098 124,859 
Seven Generations Energy Ltd. (a) 5,226 56,013 
Shaw Communications, Inc. Class B 8,134 151,441 
Shopify, Inc. Class A (a) 1,245 171,999 
SNC-Lavalin Group, Inc. 2,858 102,037 
Stantec, Inc. 2,367 61,600 
Sun Life Financial, Inc. 11,410 417,848 
Suncor Energy, Inc. 31,068 1,042,169 
Teck Resources Ltd. Class B (sub. vtg.) 8,796 181,806 
TELUS Corp. 11,187 383,083 
The Stars Group, Inc. (a) 2,582 53,701 
The Toronto-Dominion Bank 34,066 1,889,810 
Thomson Reuters Corp. 5,445 253,420 
Toromont Industries Ltd. 1,606 75,612 
Tourmaline Oil Corp. 5,182 75,578 
TransCanada Corp. 16,002 603,395 
Turquoise Hill Resources Ltd. (a) 15,851 26,730 
Vermilion Energy, Inc. 2,647 70,194 
Waste Connection, Inc. (Canada) 4,903 374,825 
West Fraser Timber Co. Ltd. 1,437 72,197 
Wheaton Precious Metals Corp. 8,617 141,648 
Whitecap Resources, Inc. 7,290 35,662 
WSP Global, Inc. 1,329 66,347 
Yamana Gold, Inc. 15,279 34,703 
TOTAL CANADA  25,527,246 
Cayman Islands - 3.4%   
3SBio, Inc. (b) 17,000 24,670 
58.com, Inc. ADR (a) 1,706 111,897 
AAC Technology Holdings, Inc. 14,500 110,450 
Agile Property Holdings Ltd. 26,000 29,641 
Airtac International Group 2,000 17,215 
Alibaba Group Holding Ltd. sponsored ADR (a) 20,313 2,890,134 
Anta Sports Products Ltd. 16,000 65,698 
ASM Pacific Technology Ltd. 4,100 35,396 
Autohome, Inc. ADR Class A 1,012 73,249 
Baidu.com, Inc. sponsored ADR (a) 5,035 956,952 
BeiGene Ltd. ADR (a) 801 100,878 
BizLink Holding, Inc. 1,000 5,329 
Chailease Holding Co. Ltd. 23,000 65,522 
Cheung Kong Property Holdings Ltd. 52,500 340,763 
China Conch Venture Holdings Ltd. 34,000 95,384 
China Literature Ltd. (a)(b) 4,400 23,762 
China Medical System Holdings Ltd. 24,000 28,554 
China Mengniu Dairy Co. Ltd. 51,000 150,230 
China Resources Land Ltd. 52,000 176,385 
China State Construction International Holdings Ltd. 24,000 17,108 
CIFI Holdings Group Co. Ltd. 74,000 30,951 
CK Hutchison Holdings Ltd. 50,500 508,416 
Country Garden Holdings Co. Ltd. 149,000 159,413 
Country Garden Services Holdings Co. Ltd. (a) 10,000 12,905 
Ctrip.com International Ltd. ADR (a) 7,102 236,355 
ENN Energy Holdings Ltd. 14,400 122,388 
Evergrande Real Estate Group Ltd. 68,000 162,154 
FIH Mobile Ltd. (a) 11,000 1,024 
Fullshare Holdings Ltd. 132,500 51,534 
GCL-Poly Energy Holdings Ltd. (a) 152,000 9,013 
Geely Automobile Holdings Ltd. 96,000 183,628 
General Interface Solution Holding Ltd. 2,000 6,621 
Gourmet Master Co. Ltd. 1,000 6,056 
Haitian International Holdings Ltd. 12,000 23,413 
Hengan International Group Co. Ltd. 14,500 114,825 
Himax Technologies, Inc. sponsored ADR 3,058 16,238 
Huazhu Group Ltd. ADR 2,387 62,444 
JD.com, Inc. sponsored ADR (a) 18,179 427,570 
Kingboard Chemical Holdings Ltd. 11,500 30,796 
Kingsoft Corp. Ltd. 7,000 9,908 
KWG Property Holding Ltd. 21,500 16,423 
Longfor Properties Co. Ltd. 23,500 57,057 
Meitu, Inc. (a)(b) 33,500 17,472 
Melco Crown Entertainment Ltd. sponsored ADR 3,559 59,186 
MGM China Holdings Ltd. 12,800 18,085 
Minth Group Ltd. 10,000 32,390 
NetEase, Inc. ADR 1,383 287,457 
New Oriental Education & Technology Group, Inc. sponsored ADR 2,442 142,881 
PagSeguro Digital Ltd. (a)(c) 1,818 49,068 
Parade Technologies Ltd. 1,000 13,243 
Phoenix Group Holdings 8,837 68,055 
Sands China Ltd. 46,400 182,832 
Semiconductor Manufacturing International Corp. (a) 76,000 62,779 
Shenzhou International Group Holdings Ltd. 10,000 110,432 
Shimao Property Holdings Ltd. 23,000 44,991 
Silergy Corp. 1,000 12,726 
Silicon Motion Technology Corp. sponsored ADR 854 32,102 
SINA Corp. (a) 1,241 78,568 
Sino Biopharmaceutical Ltd. 130,000 116,540 
Sunac China Holdings Ltd. 35,000 95,066 
Sunny Optical Technology Group Co. Ltd. 12,800 110,993 
TAL Education Group ADR (a) 5,018 145,422 
Tencent Holdings Ltd. 100,300 3,436,204 
Tingyi (Cayman Islands) Holding Corp. 36,000 53,252 
TPK Holding Co. Ltd. 1,000 1,550 
Vipshop Holdings Ltd. ADR (a) 5,040 24,494 
Want Want China Holdings Ltd. 122,000 87,121 
Weibo Corp. sponsored ADR (a) 875 51,634 
WH Group Ltd. (b) 132,000 92,411 
Wharf Real Estate Investment Co. Ltd. 22,000 136,203 
Wynn Macau Ltd. 28,800 59,422 
Xinyi Glass Holdings Ltd. 50,000 49,477 
YY, Inc. ADR (a) 575 36,743 
Zall Smart Commerce Ltd. 60,000 42,846 
Zhen Ding Technology Holding Ltd. 5,000 11,418 
ZTO Express (Cayman), Inc. sponsored ADR 5,358 86,907 
TOTAL CAYMAN ISLANDS  13,418,319 
Chile - 0.3%   
Aguas Andinas SA 45,451 23,770 
Banco de Chile 384,125 53,534 
Banco de Credito e Inversiones 1,062 66,581 
Banco de Credito e Inversiones rights 11/29/18 (a) 63 193 
Banco Santander Chile 1,161,077 85,746 
Cencosud SA 23,589 48,466 
Colbun SA 100,656 19,162 
Compania Cervecerias Unidas SA 3,238 40,382 
Compania de Petroleos de Chile SA (COPEC) 9,236 129,782 
CorpBanca SA 3,681,877 34,121 
E-CL SA 4,019 6,618 
Empresa Nacional de Telecomunicaciones SA (ENTEL) 3,736 27,107 
Empresas CMPC SA 21,149 72,806 
Enel Chile SA 342,404 29,763 
Enersis SA 565,405 88,466 
LATAM Airlines Group SA 7,748 70,689 
Parque Arauco SA 8,599 19,521 
S.A.C.I. Falabella 20,381 153,881 
S.A.C.I. Falabella rights 11/17/18 (a) 631 63 
Sociedad Matriz Banco de Chile Class B 107,185 47,203 
TOTAL CHILE  1,017,854 
China - 2.1%   
Agricultural Bank of China Ltd. (H Shares) 470,000 206,173 
Air China Ltd. (H Shares) 34,000 27,358 
Aluminum Corp. of China Ltd. (H Shares) (a) 46,000 16,659 
Anhui Conch Cement Co. Ltd. (H Shares) 22,500 116,202 
Bank Communications Co. Ltd. (H Shares) 414,000 310,423 
Bank of China Ltd. (H Shares) 1,382,000 588,614 
Beijing Capital International Airport Co. Ltd. (H Shares) 24,000 25,983 
BYD Co. Ltd. (H Shares) 13,000 83,626 
CGN Power Co. Ltd. (H Shares) (b) 192,000 44,071 
China Cinda Asset Management Co. Ltd. (H Shares) 107,000 26,198 
China CITIC Bank Corp. Ltd. (H Shares) 225,000 139,155 
China Communications Construction Co. Ltd. (H Shares) 84,000 76,802 
China Construction Bank Corp. (H Shares) 1,727,000 1,370,456 
China Galaxy Securities Co. Ltd. (H Shares) 64,500 32,406 
China Huarong Asset Management Co. Ltd. (b) 155,000 28,067 
China Life Insurance Co. Ltd. (H Shares) 137,000 274,520 
China Longyuan Power Grid Corp. Ltd. (H Shares) 61,000 46,361 
China Merchants Bank Co. Ltd. (H Shares) 69,500 267,650 
China Minsheng Banking Corp. Ltd. (H Shares) 133,000 98,029 
China Molybdenum Co. Ltd. (H Shares) 66,000 24,491 
China National Building Materials Co. Ltd. (H Shares) 48,000 34,277 
China Oilfield Services Ltd. (H Shares) 36,000 33,742 
China Pacific Insurance (Group) Co. Ltd. (H Shares) 52,000 193,625 
China Petroleum & Chemical Corp. (H Shares) 472,000 384,480 
China Railway Construction Corp. Ltd. (H Shares) 36,500 46,172 
China Railway Group Ltd. (H Shares) 72,000 64,270 
China Shenhua Energy Co. Ltd. (H Shares) 63,000 142,679 
China Southern Airlines Ltd. (H Shares) 48,000 25,953 
China Telecom Corp. Ltd. (H Shares) 258,000 121,730 
China Vanke Co. Ltd. (H Shares) 25,400 78,222 
Chongqing Rural Commercial Bank Co. Ltd. (H Shares) 26,000 14,323 
CITIC Securities Co. Ltd. (H Shares) 40,000 70,391 
CRRC Corp. Ltd. (H Shares) 75,000 65,800 
Dongfeng Motor Group Co. Ltd. (H Shares) 56,000 55,129 
Fuyao Glass Industries Group Co. Ltd. 7,200 21,255 
GF Securities Co. Ltd. (H Shares) 30,400 39,309 
Great Wall Motor Co. Ltd. (H Shares) 47,500 28,105 
Guangzhou Automobile Group Co. Ltd. (H Shares) 56,000 56,629 
Guangzhou R&F Properties Co. Ltd. (H Shares) 21,200 33,252 
Haitong Securities Co. Ltd. (H Shares) 62,400 62,782 
Huaneng Power International, Inc. (H Shares) 84,000 46,810 
Huatai Securities Co. Ltd. (H Shares) (b) 31,800 51,094 
Industrial & Commercial Bank of China Ltd. (H Shares) 1,450,000 983,786 
New China Life Insurance Co. Ltd. (H Shares) 15,000 70,104 
People's Insurance Co. of China Group (H Shares) 131,000 53,456 
PetroChina Co. Ltd. (H Shares) 390,000 280,419 
PICC Property & Casualty Co. Ltd. (H Shares) 128,000 124,051 
Ping An Insurance (Group) Co. of China Ltd. (H Shares) 94,000 885,226 
Postal Savings Bank of China Co. Ltd. 55,000 32,823 
Shanghai Fosun Pharmaceutical (Group) Co. Ltd. (H Shares) 7,500 22,475 
Sinopec Shanghai Petrochemical Co. Ltd. (H Shares) 48,000 21,056 
Sinopharm Group Co. Ltd. (H Shares) 22,400 107,973 
TravelSky Technology Ltd. (H Shares) 16,000 38,766 
Weichai Power Co. Ltd. (H Shares) 33,000 32,613 
Yanzhou Coal Mining Co. Ltd. (H Shares) 30,000 28,348 
Zhuzhou CRRC Times Electric Co. Ltd. (H Shares) 10,600 56,636 
Zijin Mng Group Co. Ltd. (H Shares) 110,000 40,819 
ZTE Corp. (H Shares) 12,400 18,912 
TOTAL CHINA  8,270,736 
Colombia - 0.0%   
Almacenes Exito SA 1,600 6,908 
Bancolombia SA 4,232 39,803 
Grupo de Inversiones Suramerica SA 5,128 50,014 
Interconexion Electrica SA ESP 6,930 25,744 
Inversiones Argos SA 6,677 31,109 
TOTAL COLOMBIA  153,578 
Czech Republic - 0.0%   
Ceske Energeticke Zavody A/S 3,039 72,320 
Komercni Banka A/S 1,435 54,514 
MONETA Money Bank A/S (b) 5,710 18,949 
TOTAL CZECH REPUBLIC  145,783 
Denmark - 1.1%   
A.P. Moller - Maersk A/S:   
Series A 53 63,083 
Series B 129 162,825 
Ambu A/S Series B 3,168 66,035 
Carlsberg A/S Series B 1,993 219,848 
Christian Hansen Holding A/S 1,829 184,874 
Coloplast A/S Series B 2,026 189,162 
Danske Bank A/S 14,510 278,331 
DONG Energy A/S (b) 3,876 246,262 
DSV de Sammensluttede Vognmaend A/S 3,534 284,141 
Genmab A/S (a) 1,160 158,919 
GN Store Nord A/S 3,100 131,636 
H Lundbeck A/S 953 44,504 
ISS Holdings A/S 3,588 117,986 
Jyske Bank A/S (Reg.) 1,504 61,490 
Novo Nordisk A/S Series B 34,665 1,497,062 
Novozymes A/S Series B 4,300 212,490 
Pandora A/S 2,203 137,828 
Sydbank A/S 1,417 32,763 
Tryg A/S 1,756 42,441 
Vestas Wind Systems A/S 4,193 262,966 
William Demant Holding A/S (a) 1,992 65,564 
TOTAL DENMARK  4,460,210 
Egypt - 0.0%   
Commercial International Bank SAE 22,873 101,473 
EFG-Hermes Holding SAE (a) 1,804 1,399 
Global Telecom Holding (a) 9,485 1,461 
Talaat Moustafa Group Holding 3,691 1,874 
TOTAL EGYPT  106,207 
Finland - 0.9%   
Amer Group PLC (A Shares) 2,380 88,500 
Elisa Corp. (A Shares) 2,892 115,138 
Fortum Corp. 8,203 172,769 
Huhtamaki Oyj 1,631 45,796 
KCI Konecranes Oyj 1,496 53,646 
Kesko Oyj 1,248 72,967 
Kone Oyj (B Shares) 7,113 346,592 
Metso Corp. 2,535 80,137 
Neste Oyj 2,382 196,304 
Nokia Corp. 109,095 616,232 
Nokian Tyres PLC 2,198 69,907 
Nordea Bank ABP (a) 59,611 518,453 
Orion Oyj (B Shares) 1,699 58,501 
Outokumpu Oyj (A Shares) 5,536 23,263 
Sampo Oyj (A Shares) 9,047 416,646 
Stora Enso Oyj (R Shares) 10,722 161,580 
TietoEnator Oyj 1,059 34,137 
UPM-Kymmene Corp. 9,831 316,348 
Valmet Corp. 2,689 61,279 
Wartsila Corp. 8,584 146,375 
TOTAL FINLAND  3,594,570 
France - 6.0%   
Accor SA 3,998 183,035 
Aeroports de Paris 598 125,237 
Air Liquide SA 7,875 954,399 
Alstom SA 2,865 125,421 
Arkema SA 1,392 146,281 
Atos Origin SA 1,739 149,262 
AXA SA 35,647 892,126 
BNP Paribas SA 20,726 1,082,916 
Bouygues SA 3,740 136,572 
Bureau Veritas SA 4,951 111,875 
Capgemini SA 3,039 371,749 
Carrefour SA 10,642 206,720 
Compagnie de St. Gobain 9,808 369,481 
Credit Agricole SA 22,541 288,693 
Danone SA 11,408 807,839 
Dassault Systemes SA 2,518 316,146 
Edenred SA 3,854 146,366 
Eiffage SA 1,245 121,865 
ENGIE 29,632 395,201 
Essilor International SA 3,662 500,843 
Faurecia SA 1,494 72,611 
Gecina SA 775 113,851 
Groupe Eurotunnel SA 10,319 129,910 
Hermes International SCA 392 224,219 
Iliad SA 434 50,263 
Ingenico SA 1,175 83,365 
Kering SA 1,390 619,677 
Klepierre SA 3,957 134,457 
L'Oreal SA 4,517 1,017,608 
Legrand SA 4,944 323,334 
LVMH Moet Hennessy - Louis Vuitton SA 5,091 1,544,637 
Michelin CGDE Series B 3,418 349,916 
Natixis SA 16,906 98,922 
Orange SA 42,989 670,987 
Orpea 1,017 125,385 
Pernod Ricard SA 4,088 624,161 
Peugeot Citroen SA 8,618 205,278 
Publicis Groupe SA 3,907 226,751 
Renault SA 3,576 267,607 
Rubis 1,790 92,654 
Safran SA 6,036 780,019 
Sanofi SA 21,941 1,960,660 
Schneider Electric SA 11,105 803,015 
SCOR SE 3,342 154,437 
Societe Generale Series A 13,940 511,009 
Sodexo SA 1,779 181,590 
SR Teleperformance SA 1,064 175,468 
Suez Environnement SA 6,887 99,730 
Thales SA 1,914 244,972 
Total SA 46,964 2,755,633 
Valeo SA 4,538 146,370 
Veolia Environnement SA 9,499 189,574 
VINCI SA 9,394 836,060 
Vivendi SA 16,488 397,663 
TOTAL FRANCE  23,643,820 
Germany - 5.1%   
adidas AG 3,908 920,690 
Allianz SE 8,445 1,759,262 
Axel Springer Verlag AG 960 63,827 
BASF AG 17,021 1,306,167 
Bayer AG 15,612 1,196,698 
Bayerische Motoren Werke AG (BMW) 5,873 507,086 
Beiersdorf AG 1,769 183,134 
Brenntag AG 2,984 156,047 
Commerzbank AG (a) 20,025 189,140 
Continental AG 2,019 333,761 
Covestro AG (b) 1,351 87,406 
Daimler AG (Germany) 18,523 1,098,517 
Deutsche Bank AG 28,603 280,268 
Deutsche Borse AG 3,563 450,266 
Deutsche Lufthansa AG 4,652 93,579 
Deutsche Post AG 17,762 560,840 
Deutsche Telekom AG 59,572 977,081 
Deutsche Wohnen AG (Bearer) 6,203 284,124 
E.ON AG 37,171 359,446 
Evonik Industries AG 2,739 85,004 
Fraport AG Frankfurt Airport Services Worldwide 599 46,339 
Freenet AG 2,885 64,994 
Fresenius Medical Care AG & Co. KGaA 3,954 310,454 
Fresenius SE & Co. KGaA 7,430 472,220 
GEA Group AG 3,415 103,894 
Hannover Reuck SE 1,059 142,858 
HeidelbergCement Finance AG 2,363 160,587 
Henkel AG & Co. KGaA 1,483 145,464 
Hugo Boss AG 1,283 91,813 
Infineon Technologies AG 21,462 430,032 
innogy SE (b) 2,125 93,868 
K&S AG 3,936 73,425 
KION Group AG 1,279 74,896 
Lanxess AG 1,796 111,395 
LEG Immobilien AG 1,241 135,867 
Merck KGaA 2,457 263,320 
Morphosys AG (a) 672 62,261 
MTU Aero Engines Holdings AG 979 208,245 
Muenchener Rueckversicherungs AG 2,979 640,923 
OSRAM Licht AG 1,409 57,165 
ProSiebenSat.1 Media AG 4,523 104,443 
Puma AG 116 59,650 
Rheinmetall AG 770 66,754 
RWE AG 9,155 178,561 
SAP SE 18,239 1,952,913 
Siemens AG 14,141 1,625,463 
Symrise AG 2,318 194,706 
Telefonica Deutschland Holding AG 13,321 51,827 
Thyssenkrupp AG 8,215 172,835 
TUI AG (GB) 8,822 146,479 
Uniper SE 3,669 106,012 
United Internet AG 2,472 102,421 
Vonovia SE 8,623 394,776 
Wirecard AG 2,154 403,531 
Zalando SE (a) 2,111 81,773 
TOTAL GERMANY  20,224,507 
Greece - 0.1%   
Alpha Bank AE (a) 24,504 37,052 
EFG Eurobank Ergasias SA (a) 27,471 18,513 
Greek Organization of Football Prognostics SA 3,167 29,773 
Hellenic Telecommunications Organization SA 5,933 66,192 
Jumbo SA 1,578 23,021 
Motor Oil (HELLAS) Corinth Refineries SA 1,013 23,980 
Mytilineos Holdings SA 1,570 13,888 
National Bank of Greece SA (a) 10,579 18,333 
Piraeus Bank SA 3,797 5,591 
Titan Cement Co. SA (Reg.) 636 14,004 
TOTAL GREECE  250,347 
Hong Kong - 2.3%   
AIA Group Ltd. 224,600 1,699,834 
Bank of East Asia Ltd. 23,129 74,915 
Beijing Enterprises Holdings Ltd. 8,000 43,255 
BOC Hong Kong (Holdings) Ltd. 67,500 252,201 
China Everbright International Ltd. 45,185 36,012 
China Jinmao Holdings Group Ltd. 72,000 30,207 
China Merchants Holdings International Co. Ltd. 8,000 13,609 
China Mobile Ltd. 102,000 955,524 
China Overseas Land and Investment Ltd. 80,000 250,448 
China Resources Beer Holdings Co. Ltd. 30,000 104,247 
China Resources Pharmaceutical Group Ltd. (b) 35,500 52,060 
China Resources Power Holdings Co. Ltd. 34,000 59,745 
China Taiping Insurance Group Ltd. 27,400 91,544 
China Unicom Ltd. 112,000 117,146 
CITIC Pacific Ltd. 114,000 170,957 
CLP Holdings Ltd. 37,000 414,731 
CNOOC Ltd. 298,000 507,488 
CSPC Pharmaceutical Group Ltd. 86,000 181,389 
Far East Horizon Ltd. 40,000 38,766 
Fosun International Ltd. 46,000 67,106 
Galaxy Entertainment Group Ltd. 51,000 275,748 
Guangdong Investment Ltd. 52,000 92,834 
Hang Lung Group Ltd. 16,000 39,337 
Hang Lung Properties Ltd. 42,000 76,053 
Hang Seng Bank Ltd. 13,500 316,069 
Henderson Land Development Co. Ltd. 28,000 130,325 
Hong Kong & China Gas Co. Ltd. 164,000 313,263 
Hong Kong Exchanges and Clearing Ltd. 21,600 572,919 
Hysan Development Co. Ltd. 11,000 51,550 
Lenovo Group Ltd. 134,000 85,267 
Link (REIT) 42,000 372,229 
MTR Corp. Ltd. 26,559 128,698 
New World Development Co. Ltd. 103,000 130,557 
PCCW Ltd. 79,000 43,318 
Power Assets Holdings Ltd. 24,500 163,553 
Sino Land Ltd. 60,000 94,109 
Sino-Ocean Group Holding Ltd. 72,000 28,187 
Sun Art Retail Group Ltd. 42,500 46,446 
Sun Hung Kai Properties Ltd. 29,500 383,387 
Swire Pacific Ltd. (A Shares) 10,000 103,737 
Swire Properties Ltd. 19,800 67,541 
Techtronic Industries Co. Ltd. 29,000 135,719 
Vitasoy International Holdings Ltd. 16,000 50,906 
Wharf Holdings Ltd. 65,000 162,128 
Wheelock and Co. Ltd. 14,000 74,714 
TOTAL HONG KONG  9,099,778 
Hungary - 0.1%   
MOL Hungarian Oil and Gas PLC Series A (For. Reg.) 9,813 102,905 
OTP Bank PLC 3,959 142,256 
Richter Gedeon PLC 2,310 42,952 
TOTAL HUNGARY  288,113 
India - 2.6%   
Adani Ports & Special Economic Zone Ltd. 15,591 67,215 
Asian Paints Ltd. 8,448 140,541 
Aurobindo Pharma Ltd. 4,801 51,382 
Axis Bank Ltd. (a) 31,394 247,213 
Bajaj Auto Ltd. 2,576 90,338 
Bajaj Finance Ltd. 4,013 129,275 
Bajaj Finserv Ltd. 1,167 85,279 
Bharat Petroleum Corp. Ltd. 14,913 55,470 
Bharti Airtel Ltd. 21,140 83,562 
Bharti Infratel Ltd. 13,992 50,938 
Coal India Ltd. 23,330 83,955 
Dr. Reddy's Laboratories Ltd. 2,416 82,980 
Eicher Motors Ltd. 258 76,272 
GAIL India Ltd. 15,915 80,533 
Grasim Industries Ltd. (a) 7,722 87,029 
HCL Technologies Ltd. 10,338 147,550 
HDFC Bank Ltd. 39,309 1,020,472 
Hero Motocorp Ltd. 2,474 92,402 
Hindalco Industries Ltd. 20,866 62,180 
Hindustan Petroleum Corp. Ltd. 14,430 43,733 
Hindustan Unilever Ltd. 13,266 290,880 
Housing Development Finance Corp. Ltd. 29,336 701,767 
ICICI Bank Ltd. 123,437 591,924 
Indiabulls Housing Finance Ltd. 5,160 58,228 
Indian Oil Corp. Ltd. 38,678 72,404 
IndusInd Bank Ltd. 10,115 194,901 
Infosys Ltd. 74,629 689,511 
ITC Ltd. 161,843 612,929 
JSW Steel Ltd. 19,657 90,205 
Kotak Mahindra Bank Ltd. 20,498 310,172 
Larsen & Toubro Ltd. 22,857 400,986 
Lupin Ltd. (a) 4,505 53,934 
Mahindra & Mahindra Ltd. 17,546 181,711 
Maruti Suzuki India Ltd. 2,506 224,185 
Motherson Sumi Systems Ltd. (a) 20,582 45,430 
NTPC Ltd. 45,852 98,976 
Oil & Natural Gas Corp. Ltd. 51,573 106,863 
Petronet LNG Ltd. 13,063 39,864 
Piramal Enterprises Ltd. 1,283 37,692 
Power Grid Corp. of India Ltd. 41,212 103,615 
Reliance Industries Ltd. 62,045 890,282 
State Bank of India (a) 59,555 226,592 
Sun Pharmaceutical Industries Ltd. 20,794 163,138 
Tata Consultancy Services Ltd. 19,833 519,731 
Tata Motors Ltd. (a) 37,580 91,038 
Tata Steel Ltd. 15,109 113,144 
Titan Co. Ltd. 7,948 90,764 
United Spirits Ltd. (a) 4,224 32,942 
UPL Ltd. (a) 7,131 65,019 
Vedanta Ltd. (a) 20,894 59,651 
Yes Bank Ltd. 31,933 81,214 
Zee Entertainment Enterprises Ltd. 9,223 56,253 
TOTAL INDIA  10,074,264 
Indonesia - 0.5%   
Barito Pacific Tbk PT 24,000 2,960 
PT Adaro Energy Tbk 345,800 37,531 
PT Astra International Tbk 391,500 203,444 
PT Bank Central Asia Tbk 252,000 392,028 
PT Bank Danamon Indonesia Tbk Series A 56,700 27,693 
PT Bank Jabar Banten Tbk 21,000 2,473 
PT Bank Mandiri (Persero) Tbk 371,000 166,698 
PT Bank Negara Indonesia (Persero) Tbk 153,800 74,105 
PT Bank Rakyat Indonesia Tbk 1,021,300 211,616 
PT Bank Tabungan Negara Tbk 58,200 8,116 
PT Bumi Resources Tbk (a) 167,700 1,864 
PT Bumi Serpong Damai Tbk (a) 62,200 4,501 
PT Charoen Pokphand Indonesia Tbk 144,500 52,278 
PT Ciputra Development Tbk 272,700 14,709 
PT Gudang Garam Tbk 7,500 35,668 
PT Indah Kiat Pulp & Paper Tbk 36,300 30,384 
PT Indo Tambangraya Megah Tbk 8,600 14,086 
PT Indocement Tunggal Prakarsa Tbk 24,100 27,425 
PT Indofood CBP Sukses Makmur Tbk 25,000 14,677 
PT Indofood Sukses Makmur Tbk 81,300 31,953 
PT Jasa Marga Tbk 7,300 1,993 
PT Kalbe Farma Tbk 384,300 34,632 
PT Matahari Department Store Tbk 22,600 7,210 
PT Perusahaan Gas Negara Tbk Series B 163,700 23,905 
PT Semen Gresik (Persero) Tbk 46,600 27,588 
PT Surya Citra Media Tbk 89,600 9,253 
PT Telekomunikasi Indonesia Tbk Series B 950,600 240,810 
PT United Tractors Tbk 25,700 56,632 
PT Waskita Karya Persero Tbk 15,400 1,459 
PT XL Axiata Tbk (a) 40,700 7,014 
TOTAL INDONESIA  1,764,705 
Ireland - 0.6%   
Bank Ireland Group PLC 17,999 127,722 
CRH PLC 15,650 466,811 
DCC PLC (United Kingdom) 1,682 144,368 
Glanbia PLC 4,050 71,653 
Grafton Group PLC unit 4,109 38,025 
Greencore Group PLC 11,514 27,845 
ICON PLC (a) 1,131 156,168 
James Hardie Industries PLC CDI 8,378 111,479 
Kerry Group PLC Class A 2,872 294,394 
Kingspan Group PLC (Ireland) 2,988 129,959 
Paddy Power Betfair PLC (Ireland) 1,599 138,006 
Ryanair Holdings PLC sponsored ADR (a) 3,199 264,877 
Smurfit Kappa Group PLC 4,594 149,754 
United Drug PLC (United Kingdom) 4,847 39,155 
TOTAL IRELAND  2,160,216 
Isle of Man - 0.0%   
Genting Singapore Ltd. 110,800 70,392 
NEPI Rockcastle PLC 11,115 95,980 
TOTAL ISLE OF MAN  166,372 
Israel - 0.5%   
Alony Hetz Properties & Investments Ltd. 1,228 11,686 
Azrieli Group 811 39,374 
Bank Hapoalim BM (Reg.) 20,781 140,780 
Bank Leumi le-Israel BM 27,260 170,162 
Bezeq The Israel Telecommunication Corp. Ltd. 35,939 41,332 
Check Point Software Technologies Ltd. (a) 2,459 272,949 
CyberArk Software Ltd. (a) 563 38,430 
Elbit Systems Ltd. (Israel) 392 46,894 
First International Bank of Israel 1,337 28,822 
Gazit-Globe Ltd. 1,078 9,018 
Israel Chemicals Ltd. 10,048 57,967 
Israel Discount Bank Ltd. (Class A) 24,143 78,987 
Mazor Robotics Ltd. (a) 859 24,986 
Mellanox Technologies Ltd. (a) 854 72,325 
Mizrahi Tefahot Bank Ltd. 2,432 40,980 
NICE Systems Ltd. (a) 1,139 120,763 
Orbotech Ltd. (a) 987 55,213 
Paz Oil Co. Ltd. 80 11,979 
SodaStream International Ltd. (a) 435 62,375 
Strauss Group Ltd. 461 10,116 
Taro Pharmaceutical Industries Ltd. (a) 326 32,440 
Teva Pharmaceutical Industries Ltd. sponsored ADR (c) 17,189 343,436 
Tower Semiconductor Ltd. (a) 1,162 18,018 
Wix.com Ltd. (a) 625 60,844 
TOTAL ISRAEL  1,789,876 
Italy - 1.3%   
A2A SpA 32,825 52,962 
Assicurazioni Generali SpA 24,711 399,682 
Atlantia SpA 8,880 178,629 
Azimut Holding SpA 1,960 24,165 
Banca Generali SpA 1,014 19,559 
Banca Mediolanum S.p.A. 4,774 27,712 
Banca Popolare dell'Emilia Romagna 9,202 34,999 
Banco BPM SpA (a) 26,696 50,224 
Brembo SpA 2,615 28,967 
Cerved Information Solutions SpA 3,487 27,825 
Davide Campari-Milano SpA 11,064 85,152 
DiaSorin S.p.A. 527 50,021 
Enel SpA 142,495 698,662 
Eni SpA 49,637 881,541 
FinecoBank SpA 8,019 83,979 
Hera SpA 15,037 41,557 
Interpump Group SpA 1,769 51,093 
Intesa Sanpaolo SpA 285,968 633,440 
Italgas SpA 10,532 54,420 
Leonardo SpA 7,681 83,432 
Luxottica Group SpA 2,478 155,828 
Mediobanca SpA 11,720 102,905 
Moncler SpA 2,461 85,575 
Pirelli & C. S.p.A. (b) 7,843 57,689 
Poste Italiane SpA (b) 7,692 55,323 
Prysmian SpA 4,267 82,935 
Recordati SpA 1,663 56,357 
Saipem SpA (a) 10,117 55,404 
Snam Rete Gas SpA 45,270 187,359 
Telecom Italia SpA (a) 257,138 151,237 
Terna SpA 26,465 136,839 
UniCredit SpA 39,416 505,198 
Unione di Banche Italiane SCpA 17,982 54,992 
Unipol Gruppo SpA 7,082 28,540 
Unipolsai SpA 22,274 48,717 
TOTAL ITALY  5,272,919 
Japan - 19.0%   
77 Bank Ltd. 1,400 28,996 
ABC-MART, Inc. 600 35,095 
ACOM Co. Ltd. 6,400 23,652 
Activia Properties, Inc. 13 53,919 
Adeka Corp. 2,500 37,156 
Advance Residence Investment Corp. 26 66,408 
Advantest Corp. 3,900 71,996 
Aeon (REIT) Investment Corp. 24 26,481 
AEON Co. Ltd. 16,400 376,415 
AEON Financial Service Co. Ltd. 2,000 39,279 
AEON MALL Co. Ltd. 1,800 33,325 
Agc, Inc. 4,600 150,670 
Aica Kogyo Co. Ltd. 1,400 41,689 
Ain Holdings, Inc. 500 39,172 
Air Water, Inc. 3,300 53,550 
Aisin Seiki Co. Ltd. 3,700 145,429 
Ajinomoto Co., Inc. 10,700 172,863 
Alfresa Holdings Corp. 4,200 112,226 
All Nippon Airways Ltd. 6,800 228,654 
Alps Electric Co. Ltd. 4,100 96,649 
Amada Holdings Co. Ltd. 7,600 71,598 
Amano Corp. 1,200 25,524 
Anritsu Corp. 2,400 36,414 
Aoyama Trading Co. Ltd. 700 21,217 
Aozora Bank Ltd. 2,100 72,463 
Ariake Japan Co. Ltd. 400 35,450 
Asahi Group Holdings 8,600 377,928 
ASAHI INTECC Co. Ltd. 1,700 69,531 
Asahi Kasei Corp. 24,900 298,762 
Asics Corp. 3,700 53,778 
Astellas Pharma, Inc. 40,800 630,368 
Azbil Corp. 2,200 40,984 
Bandai Namco Holdings, Inc. 4,200 149,448 
Bank of Kyoto Ltd. 1,500 67,665 
Benesse Holdings, Inc. 1,700 47,383 
Bic Camera, Inc. 3,100 41,018 
Bridgestone Corp. 12,600 485,847 
Brother Industries Ltd. 5,200 95,442 
Calbee, Inc. 2,100 69,792 
Canon, Inc. 20,300 578,213 
Casio Computer Co. Ltd. 5,000 75,466 
Central Japan Railway Co. 3,800 729,253 
Chiba Bank Ltd. 16,000 101,222 
Chiyoda Corp. 3,300 16,421 
Chubu Electric Power Co., Inc. 13,500 194,679 
Chugai Pharmaceutical Co. Ltd. 4,000 234,187 
Chugoku Electric Power Co., Inc. 6,000 77,210 
Citizen Watch Co. Ltd. 6,500 37,414 
CKD Corp. 600 6,913 
Coca-Cola West Co. Ltd. 1,800 47,140 
COMSYS Holdings Corp. 2,300 64,010 
Concordia Financial Group Ltd. 24,800 113,504 
Cosmo Energy Holdings Co. Ltd. 1,400 52,049 
Cosmos Pharmaceutical Corp. 200 40,892 
Credit Saison Co. Ltd. 2,600 41,288 
CyberAgent, Inc. 2,000 85,106 
Dai Nippon Printing Co. Ltd. 5,600 125,650 
Dai-ichi Mutual Life Insurance Co. 22,500 422,220 
Daicel Chemical Industries Ltd. 6,900 73,076 
Daido Steel Co. Ltd. 700 28,847 
Daifuku Co. Ltd. 2,400 103,372 
Daiichi Sankyo Kabushiki Kaisha 12,200 466,323 
Daiichikosho Co. Ltd. 700 32,259 
Daikin Industries Ltd. 5,500 637,516 
Dainippon Sumitomo Pharma Co. Ltd. 3,300 68,949 
Daishi Hokuetsu Financial Group, Inc. 800 28,785 
Daito Trust Construction Co. Ltd. 1,500 198,077 
Daiwa House Industry Co. Ltd. 12,600 380,449 
Daiwa House REIT Investment Corp. 22 48,159 
Daiwa Office Investment Corp. 5 30,531 
Daiwa Securities Group, Inc. 32,500 186,378 
DeNA Co. Ltd. 2,000 33,268 
Denki Kagaku Kogyo KK 2,000 65,045 
DENSO Corp. 9,900 441,597 
Dentsu, Inc. 4,700 217,985 
Dic Corp. 1,900 56,157 
Disco Corp. 600 95,555 
Dmg Mori Co. Ltd. 2,200 31,878 
Don Quijote Holdings Co. Ltd. 2,500 149,776 
Dowa Holdings Co. Ltd. 1,300 37,834 
East Japan Railway Co. 7,200 628,832 
Ebara Corp. 2,000 58,253 
Eisai Co. Ltd. 5,600 466,370 
Electric Power Development Co. Ltd. 3,400 92,657 
Ezaki Glico Co. Ltd. 1,100 54,788 
FamilyMart Co. Ltd. 1,700 197,047 
Fanuc Corp. 3,600 626,281 
Fast Retailing Co. Ltd. 1,200 604,206 
Frontier Real Estate Investment Corp. 7 26,831 
Fuji Corp. 1,600 22,404 
Fuji Electric Co. Ltd. 2,600 79,366 
Fuji Oil Holdings, Inc. 1,000 28,847 
Fuji Seal International, Inc. 700 21,248 
Fujifilm Holdings Corp. 8,500 367,628 
Fujikura Ltd. 5,500 23,726 
Fujitsu Ltd. 3,700 225,102 
Fukuoka Financial Group, Inc. 3,400 83,540 
Fukuyama Transporting Co. Ltd. 600 23,211 
Furukawa Electric Co. Ltd. 1,200 32,385 
Fuyo General Lease Co. Ltd. 400 22,227 
Glory Ltd. 1,400 32,657 
GLP J-REIT 51 50,487 
GS Yuasa Corp. 1,200 24,633 
Gunma Bank Ltd. 7,800 35,393 
H2O Retailing Corp. 1,600 24,858 
Hakuhodo DY Holdings, Inc. 5,700 95,274 
Hamamatsu Photonics K.K. 2,900 97,151 
Hankyu Hanshin Holdings, Inc. 4,700 154,952 
Hanwa Co. Ltd. 800 26,268 
Harmonic Drive Systems, Inc. 500 15,221 
Haseko Corp. 6,200 78,564 
Hikari Tsushin, Inc. 400 69,907 
Hino Motors Ltd. 5,700 54,562 
Hirose Electric Co. Ltd. 700 66,566 
Hiroshima Bank Ltd. 5,400 33,452 
Hisamitsu Pharmaceutical Co., Inc. 1,700 95,972 
Hitachi Chemical Co. Ltd. 1,600 25,255 
Hitachi Construction Machinery Co. Ltd. 2,100 55,756 
Hitachi High-Technologies Corp. 1,200 45,252 
Hitachi Ltd. 18,000 550,264 
Hitachi Metals Ltd. 3,200 37,776 
Hokuhoku Financial Group, Inc. 2,300 28,598 
Honda Motor Co. Ltd. 33,700 961,984 
Horiba Ltd. 600 28,183 
Hoshizaki Corp. 1,000 80,737 
House Foods Group, Inc. 1,500 43,205 
Hoya Corp. 7,200 409,277 
Hulic Co. Ltd. 9,500 87,141 
Ibiden Co. Ltd. 2,300 28,415 
Idemitsu Kosan Co. Ltd. 2,100 95,848 
IHI Corp. 2,900 106,089 
Iida Group Holdings Co. Ltd. 3,400 61,892 
Industrial & Infrastructure Fund Investment Corp. 25 25,103 
INPEX Corp. 20,300 231,148 
Invincible Investment Corp. 79 32,696 
Isetan Mitsukoshi Holdings Ltd. 7,600 88,823 
Isuzu Motors Ltd. 11,800 154,704 
IT Holdings Corp. 1,800 80,720 
ITO EN Ltd. 1,300 55,417 
Itochu Corp. 29,500 547,106 
ITOCHU Techno-Solutions Corp. 1,400 26,552 
Itoham Yonekyu Holdings, Inc. 2,200 13,843 
Iyo Bank Ltd. 5,800 34,491 
Izumi Co. Ltd. 1,000 54,416 
J. Front Retailing Co. Ltd. 5,300 69,453 
JAFCO Co. Ltd. 800 30,912 
Japan Airlines Co. Ltd. 7,000 249,205 
Japan Airport Terminal Co. Ltd. 1,400 53,849 
Japan Excellent, Inc. 26 33,734 
Japan Exchange Group, Inc. 10,300 184,941 
Japan Hotel REIT Investment Corp. 76 54,086 
Japan Logistics Fund, Inc. 15 29,938 
Japan Prime Realty Investment Corp. 17 60,717 
Japan Real Estate Investment Corp. 23 118,633 
Japan Retail Fund Investment Corp. 47 86,806 
Japan Steel Works Ltd. 1,400 29,585 
Japan Tobacco, Inc. 20,600 529,324 
JFE Holdings, Inc. 10,800 202,949 
JGC Corp. 5,000 96,784 
Joyful Honda Co. Ltd. 1,400 20,212 
JSR Corp. 4,200 62,757 
JTEKT Corp. 4,200 52,255 
JX Holdings, Inc. 38,200 258,117 
K's Holdings Corp. 3,200 40,441 
Kagome Co. Ltd. 1,500 40,014 
Kajima Corp. 9,600 123,615 
Kakaku.com, Inc. 2,600 47,168 
Kaken Pharmaceutical Co. Ltd. 1,000 50,162 
Kamigumi Co. Ltd. 2,600 53,781 
Kaneka Corp. 1,400 58,563 
Kansai Electric Power Co., Inc. 15,200 232,644 
Kansai Paint Co. Ltd. 5,500 81,451 
Kao Corp. 9,400 625,309 
Kawasaki Heavy Industries Ltd. 2,800 66,356 
Kawasaki Kisen Kaisha Ltd. (a) 1,700 22,653 
KDDI Corp. 33,600 813,115 
Keihan Electric Railway Co., Ltd. 1,900 72,070 
Keihin Electric Express Railway Co. Ltd. 5,400 79,970 
Keio Corp. 2,300 124,922 
Keisei Electric Railway Co. 3,300 101,700 
Kenedix Office Investment Corp. 7 43,364 
Kewpie Corp. 2,500 57,673 
Keyence Corp. 1,600 784,154 
Kikkoman Corp. 3,700 202,713 
Kinden Corp. 2,400 38,499 
Kintetsu Group Holdings Co. Ltd. 3,500 134,311 
Kirin Holdings Co. Ltd. 17,200 410,436 
Kobayashi Pharmaceutical Co. Ltd. 1,100 72,141 
Kobe Steel Ltd. 7,300 58,694 
Koito Manufacturing Co. Ltd. 2,500 119,201 
Kokuyo Co. Ltd. 2,100 33,202 
Komatsu Ltd. 18,200 473,973 
Konami Holdings Corp. 1,700 64,855 
Konica Minolta, Inc. 9,700 96,014 
Kose Corp. 600 89,706 
Kubota Corp. 22,100 348,888 
Kuraray Co. Ltd. 7,100 97,522 
Kurita Water Industries Ltd. 2,200 54,262 
Kyocera Corp. 6,700 362,623 
Kyowa Exeo Corp. 1,900 51,190 
Kyowa Hakko Kirin Co., Ltd. 5,300 102,644 
Kyudenko Corp. 800 29,175 
Kyushu Electric Power Co., Inc. 8,900 103,643 
Kyushu Financial Group, Inc. 8,900 39,359 
Kyushu Railway Co. 2,900 88,926 
Lawson, Inc. 1,000 63,278 
Leopalace21 Corp. 5,200 21,706 
LINE Corp. (a) 700 22,317 
Lion Corp. 5,800 108,973 
LIXIL Group Corp. 5,600 88,341 
M3, Inc. 7,100 114,395 
Mabuchi Motor Co. Ltd. 900 32,065 
Maeda Corp. 3,100 35,057 
Makita Corp. 5,300 183,423 
Marubeni Corp. 27,100 219,746 
Marui Group Co. Ltd. 4,700 101,199 
Maruichi Steel Tube Ltd. 1,600 46,227 
Matsumotokiyoshi Holdings Co. Ltd. 1,900 68,534 
Mazda Motor Corp. 11,500 122,488 
McDonald's Holdings Co. (Japan) Ltd. 1,200 52,856 
Mebuki Financial Group, Inc. 20,400 62,374 
Medipal Holdings Corp. 3,800 81,601 
Meiji Holdings Co. Ltd. 2,900 192,414 
Minebea Mitsumi, Inc. 8,400 128,503 
Miraca Holdings, Inc. 800 19,498 
Misumi Group, Inc. 5,200 104,429 
Mitsubishi Chemical Holdings Corp. 28,600 222,948 
Mitsubishi Corp. 29,700 835,916 
Mitsubishi Electric Corp. 40,500 512,707 
Mitsubishi Estate Co. Ltd. 26,100 417,125 
Mitsubishi Gas Chemical Co., Inc. 4,400 74,129 
Mitsubishi Heavy Industries Ltd. 6,200 218,561 
Mitsubishi Logistics Corp. 1,600 36,681 
Mitsubishi Materials Corp. 2,500 69,212 
Mitsubishi Motors Corp. of Japan 14,400 90,450 
Mitsubishi Tanabe Pharma Corp. 4,200 62,087 
Mitsubishi UFJ Financial Group, Inc. 265,300 1,605,726 
Mitsubishi UFJ Lease & Finance Co. Ltd. 10,900 56,125 
Mitsui & Co. Ltd. 33,300 556,397 
Mitsui Chemicals, Inc. 4,100 91,939 
Mitsui Fudosan Co. Ltd. 18,600 418,914 
Mitsui Mining & Smelting Co. Ltd. 1,300 36,832 
Mitsui OSK Lines Ltd. 1,900 46,179 
Miura Co. Ltd. 2,300 56,361 
mixi, Inc. 500 10,927 
Mizuho Financial Group, Inc. 462,900 794,968 
MonotaRO Co. Ltd. 2,400 52,984 
Mori Hills REIT Investment Corp. 28 34,642 
Morinaga & Co. Ltd. 1,000 40,191 
Morinaga Milk Industry Co. Ltd. 1,000 26,676 
MS&AD Insurance Group Holdings, Inc. 9,500 285,354 
Murata Manufacturing Co. Ltd. 4,000 608,499 
Nabtesco Corp. 2,100 46,305 
Nachi-Fujikoshi Corp. 500 20,406 
Nagase & Co. Ltd. 1,900 29,872 
Nagoya Railroad Co. Ltd. 3,100 74,893 
Nankai Electric Railway Co. Ltd. 2,400 58,726 
NEC Corp. 4,700 134,915 
New Hampshire Foods Ltd. 2,000 68,972 
Nexon Co. Ltd. (a) 6,500 74,082 
NGK Insulators Ltd. 5,500 77,407 
NGK Spark Plug Co. Ltd. 3,600 73,126 
NHK Spring Co. Ltd. 3,700 31,808 
Nichias Corp. 1,000 21,837 
Nichirei Corp. 3,000 72,054 
Nidec Corp. 5,200 667,772 
Nifco, Inc. 1,700 38,735 
Nihon Kohden Corp. 1,600 47,787 
Nihon M&A Center, Inc. 2,600 62,376 
Nihon Parkerizing Co. Ltd. 2,100 25,367 
Nihon Unisys Ltd. 1,200 26,300 
Nikkon Holdings Co. Ltd. 1,100 26,614 
Nikon Corp. 7,700 134,231 
Nintendo Co. Ltd. 2,300 718,067 
Nippon Accommodations Fund, Inc. 9 41,237 
Nippon Building Fund, Inc. 26 148,624 
Nippon Electric Glass Co. Ltd. 1,300 32,754 
Nippon Express Co. Ltd. 1,800 113,595 
Nippon Gas Co. Ltd. 700 21,186 
Nippon Kayaku Co. Ltd. 3,800 45,224 
Nippon Light Metal Holding Co. Ltd. 7,800 16,447 
Nippon Paint Holdings Co. Ltd. 3,700 115,917 
Nippon Paper Industries Co. Ltd. 2,400 43,483 
Nippon Prologis REIT, Inc. 34 68,582 
Nippon Shinyaku Co. Ltd. 1,300 75,003 
Nippon Shokubai Co. Ltd. 600 38,711 
Nippon Steel & Sumitomo Metal Corp. 16,900 311,740 
Nippon Suisan Kaisha Co. Ltd. 6,800 43,436 
Nippon Telegraph & Telephone Corp. 26,000 1,072,204 
Nippon Yusen KK 3,100 49,990 
Nipro Corp. 2,300 29,312 
Nishi-Nippon Financial Holdings, Inc. 2,600 24,794 
Nishi-Nippon Railroad Co. Ltd. 1,600 39,576 
Nissan Chemical Corp. 2,900 136,739 
Nissan Motor Co. Ltd. 44,200 402,121 
Nisshin Seifun Group, Inc. 5,100 101,480 
Nisshinbo Holdings, Inc. 3,500 38,530 
Nissin Food Holdings Co. Ltd. 1,800 116,294 
Nitori Holdings Co. Ltd. 1,600 208,942 
Nitto Denko Corp. 3,100 193,673 
NKSJ Holdings, Inc. 7,800 321,715 
NOF Corp. 1,900 53,968 
NOK Corp. 2,800 40,300 
Nomura Holdings, Inc. 66,300 318,370 
Nomura Real Estate Holdings, Inc. 2,700 50,705 
Nomura Real Estate Master Fund, Inc. 77 99,837 
Nomura Research Institute Ltd. 2,600 115,212 
NSK Ltd. 9,600 94,847 
NTN Corp. 9,300 34,016 
NTT Data Corp. 12,100 155,346 
NTT DOCOMO, Inc. 23,900 592,692 
Obayashi Corp. 14,000 123,595 
OBIC Co. Ltd. 1,300 118,438 
Odakyu Electric Railway Co. Ltd. 5,900 124,730 
Oji Holdings Corp. 17,700 125,690 
Okuma Corp. 700 34,951 
Okumura Corp. 700 22,054 
Olympus Corp. 6,100 203,324 
OMRON Corp. 4,200 170,479 
Ono Pharmaceutical Co. Ltd. 10,400 237,061 
Open House Co. Ltd. 500 19,653 
Oracle Corp. Japan 600 40,732 
Oriental Land Co. Ltd. 4,300 404,524 
ORIX Corp. 24,500 399,739 
ORIX JREIT, Inc. 47 71,894 
Osaka Gas Co. Ltd. 7,800 142,631 
OSG Corp. 1,900 39,302 
Otsuka Corp. 2,100 69,792 
Otsuka Holdings Co. Ltd. 10,700 511,759 
Panasonic Corp. 43,400 465,745 
Park24 Co. Ltd. 1,700 44,762 
Penta-Ocean Construction Co. Ltd. 4,800 28,757 
PeptiDream, Inc. (a) 1,600 52,537 
Pigeon Corp. 2,300 97,638 
Pilot Corp. 600 33,181 
Pola Orbis Holdings, Inc. 1,700 45,500 
Rakuten, Inc. 17,200 116,341 
Recruit Holdings Co. Ltd. 26,100 700,513 
Relo Group, Inc. 2,400 56,706 
Rengo Co. Ltd. 4,600 40,074 
Resona Holdings, Inc. 41,500 218,291 
Resorttrust, Inc. 2,100 32,328 
Ricoh Co. Ltd. 14,100 140,750 
Rinnai Corp. 700 50,995 
ROHM Co. Ltd. 1,800 126,663 
Rohto Pharmaceutical Co. Ltd. 2,300 72,974 
Ryohin Keikaku Co. Ltd. 500 132,096 
Sankyu, Inc. 1,200 56,791 
Santen Pharmaceutical Co. Ltd. 8,300 123,211 
Sanwa Holdings Corp. 4,600 54,017 
Sapporo Breweries Ltd. 1,700 31,536 
Sawai Pharmaceutical Co. Ltd. 600 30,469 
SBI Holdings, Inc. Japan 3,900 102,343 
Screen Holdings Co. Ltd. 1,100 59,799 
SCSK Corp. 1,100 46,648 
Secom Co. Ltd. 3,900 319,299 
Sega Sammy Holdings, Inc. 4,100 52,797 
Seibu Holdings, Inc. 5,500 99,778 
Seiko Epson Corp. 6,100 98,279 
Seino Holdings Co. Ltd. 3,500 48,513 
Sekisui Chemical Co. Ltd. 8,900 139,848 
Sekisui House Ltd. 12,300 180,527 
Seria Co. Ltd. 700 23,605 
Seven & i Holdings Co. Ltd. 14,800 640,840 
Seven Bank Ltd. 13,300 41,609 
SG Holdings Co. Ltd. 1,300 32,766 
Sharp Corp. 3,300 50,625 
Shikoku Electric Power Co., Inc. 4,200 52,856 
Shima Seiki Manufacturing Ltd. 500 13,515 
Shimadzu Corp. 5,300 134,009 
Shimamura Co. Ltd. 500 42,053 
SHIMANO, Inc. 1,600 218,939 
SHIMIZU Corp. 14,100 114,455 
Shin-Etsu Chemical Co. Ltd. 7,600 635,060 
Shinsei Bank Ltd. 4,400 67,025 
Shionogi & Co. Ltd. 5,800 370,874 
Shiseido Co. Ltd. 7,500 473,216 
Shizuoka Bank Ltd. 11,900 104,113 
SHO-BOND Holdings Co. Ltd. 500 35,627 
Shochiku Co. Ltd. 300 29,273 
Showa Denko K.K. 2,700 117,568 
Showa Shell Sekiyu K.K. 3,700 70,619 
Skylark Co. Ltd. 2,400 37,393 
SMC Corp. 1,300 416,493 
SoftBank Corp. 17,100 1,353,274 
Sohgo Security Services Co., Ltd. 1,400 62,410 
Sojitz Corp. 26,900 90,464 
Sony Corp. 23,500 1,271,744 
Sony Financial Holdings, Inc. 3,300 76,129 
Sosei Group Corp. (a) 700 5,441 
Sotetsu Holdings, Inc. 1,600 48,992 
Square Enix Holdings Co. Ltd. 1,700 60,943 
Stanley Electric Co. Ltd. 3,000 88,935 
Subaru Corp. 12,000 323,696 
Sugi Holdings Co. Ltd. 700 32,073 
Sumco Corp. 3,400 45,890 
Sumitomo Chemical Co. Ltd. 32,600 163,306 
Sumitomo Corp. 23,300 353,384 
Sumitomo Electric Industries Ltd. 14,800 201,836 
Sumitomo Forestry Co. Ltd. 3,100 46,128 
Sumitomo Heavy Industries Ltd. 2,500 78,627 
Sumitomo Metal Mining Co. Ltd. 5,300 166,876 
Sumitomo Mitsui Financial Group, Inc. 26,200 1,020,100 
Sumitomo Mitsui Trust Holdings, Inc. 7,300 290,055 
Sumitomo Osaka Cement Co. Ltd. 700 26,007 
Sumitomo Realty & Development Co. Ltd. 9,000 309,241 
Sumitomo Rubber Industries Ltd. 3,800 54,726 
Sundrug Co. Ltd. 1,000 36,336 
Suntory Beverage & Food Ltd. 2,400 97,948 
Suzuken Co. Ltd. 1,700 86,179 
Suzuki Motor Corp. 8,400 418,880 
Sysmex Corp. 3,100 217,702 
T&D Holdings, Inc. 12,300 196,624 
Tadano Ltd. 2,700 29,145 
Taiheiyo Cement Corp. 2,100 61,796 
Taisei Corp. 4,300 183,904 
Taisho Pharmaceutical Holdings Co. Ltd. 1,100 117,375 
Taiyo Nippon Sanso Corp. 3,500 56,361 
Taiyo Yuden Co. Ltd. 2,100 42,288 
Takara Holdings, Inc. 4,100 57,517 
Takashimaya Co. Ltd. 3,800 59,803 
Takeda Pharmaceutical Co. Ltd. 14,000 580,434 
TDK Corp. 2,500 215,575 
TechnoPro Holdings, Inc. 600 31,373 
Teijin Ltd. 3,900 67,613 
Temp Holdings Co., Ltd. 3,100 59,014 
Terumo Corp. 6,400 345,484 
The Chugoku Bank Ltd. 3,600 32,479 
The Hachijuni Bank Ltd. 8,800 37,279 
The Suruga Bank Ltd. 2,600 12,282 
THK Co. Ltd. 2,600 57,629 
Toagosei Co. Ltd. 3,400 34,954 
Tobu Railway Co. Ltd. 4,100 114,032 
Toda Corp. 4,200 28,326 
Toho Co. Ltd. 2,800 91,351 
Toho Gas Co. Ltd. 2,000 69,127 
Tohoku Electric Power Co., Inc. 9,400 118,963 
Tokai Carbon Co. Ltd. 4,400 68,890 
Tokai Tokyo Financial Holdings 4,100 21,184 
Tokio Marine Holdings, Inc. 14,100 664,281 
Tokuyama Corp. 1,400 31,306 
Tokyo Century Corp. 1,100 58,980 
Tokyo Electric Power Co., Inc. (a) 14,500 74,214 
Tokyo Electron Ltd. 3,100 418,341 
Tokyo Gas Co. Ltd. 7,500 184,447 
Tokyo Ohka Kogyo Co. Ltd. 1,000 26,853 
Tokyo Seimitsu Co. Ltd. 400 9,625 
Tokyo Tatemono Co. Ltd. 4,400 47,323 
Tokyu Corp. 11,000 181,725 
Tokyu Fudosan Holdings Corp. 10,600 59,724 
Topcon Corp. 1,900 27,649 
Toppan Printing Co. Ltd. 6,300 89,066 
Toray Industries, Inc. 30,900 219,183 
Toshiba Corp. (a) 7,600 227,660 
Tosoh Corp. 6,600 86,894 
Toto Ltd. 3,100 110,906 
Toyo Seikan Group Holdings Ltd. 3,300 67,326 
Toyo Suisan Kaisha Ltd. 1,900 65,503 
Toyo Tire & Rubber Co. Ltd. 2,300 38,525 
Toyobo Co. Ltd. 2,100 29,848 
Toyoda Gosei Co. Ltd. 1,100 23,738 
Toyota Boshoku Corp. 1,300 21,741 
Toyota Industries Corp. 3,900 191,829 
Toyota Motor Corp. 55,200 3,233,670 
Toyota Tsusho Corp. 4,500 162,399 
Trend Micro, Inc. 2,200 126,645 
TS tech Co. Ltd. 1,000 28,803 
Tsumura & Co. 1,400 43,674 
Tsuruha Holdings, Inc. 800 83,378 
Ube Industries Ltd. 2,000 43,565 
Ulvac, Inc. 900 29,392 
Unicharm Corp. 8,300 225,972 
United Urban Investment Corp. 53 80,744 
Ushio, Inc. 1,700 20,596 
USS Co. Ltd. 4,500 81,238 
Wacoal Holdings Corp. 1,400 38,587 
Welcia Holdings Co. Ltd. 1,000 51,048 
West Japan Railway Co. 3,600 242,128 
Yahoo! Japan Corp. 21,600 67,388 
Yakult Honsha Co. Ltd. 3,100 220,065 
Yamada Denki Co. Ltd. 11,600 54,692 
Yamaguchi Financial Group, Inc. 4,800 50,750 
Yamaha Corp. 3,400 149,411 
Yamaha Motor Co. Ltd. 5,900 139,534 
Yamato Holdings Co. Ltd. 7,800 213,240 
Yamazaki Baking Co. Ltd. 3,500 63,154 
Yaskawa Electric Corp. 5,200 150,299 
Yokogawa Electric Corp. 4,600 90,317 
Yokohama Rubber Co. Ltd. 2,800 54,240 
Zenkoku Hosho Co. Ltd. 1,000 36,248 
Zeon Corp. 3,600 34,872 
Zozo, Inc. 3,300 79,521 
TOTAL JAPAN  74,648,981 
Korea (South) - 3.5%   
AMOREPACIFIC Corp. 638 85,551 
AMOREPACIFIC Group, Inc. 563 30,642 
BGF Retail Co. Ltd. 159 23,481 
BS Financial Group, Inc. 5,926 39,420 
Bukwang Pharmaceutical Co. Ltd. 422 8,248 
Cafe24 Corp. (a) 74 7,167 
Celltrion Healthcare Co. Ltd. 950 53,037 
Celltrion Pharm, Inc. 165 7,737 
Celltrion, Inc. (a) 1,938 369,426 
CHA Biotech Co. Ltd. (a) 462 7,430 
Cheil Industries, Inc. 1,916 182,196 
Cheil Worldwide, Inc. 888 17,667 
Chong Kun Dang Pharmaceutical Corp. 136 10,334 
CJ CGV Co. Ltd. 28 990 
CJ CheilJedang Corp. 142 40,323 
CJ Corp. 325 31,047 
Com2uS Corp. 203 22,791 
Cosmax, Inc. 156 15,723 
Coway Co. Ltd. 1,072 66,049 
Daelim Industrial Co. 471 31,372 
Daewoo Engineering & Construction Co. Ltd. (a) 2,048 8,122 
Daewoong Pharmaceutical Co. Ltd. 70 8,650 
Db Insurance Co. Ltd. 1,060 66,703 
DGB Financial Group Co. Ltd. 4,145 34,148 
Dong Suh Companies, Inc. 539 8,810 
Doosan Bobcat, Inc. 341 10,520 
Doosan Co. Ltd. 357 37,390 
Doosan Heavy Industries & Construction Co. Ltd. (a) 232 2,226 
Doosan Infracore Co. Ltd. (a) 3,974 26,818 
DuzonBizon Co. Ltd. 214 8,131 
E-Mart Co. Ltd. 419 75,097 
EO Technics Co. Ltd. 27 1,156 
Fila Korea Ltd. 822 30,294 
G-treeBNT Co. Ltd. (a) 97 1,883 
Genexine Co. Ltd. (a) 120 7,814 
Grand Korea Leisure Co. Ltd. 426 8,307 
Green Cross Corp. 66 6,912 
Green Cross Holdings Corp. 401 7,293 
GS Engineering & Construction Corp. 1,252 45,812 
GS Holdings Corp. 1,090 46,332 
GS Retail Co. Ltd. 317 9,974 
Hana Financial Group, Inc. 5,792 194,420 
Hana Tour Service, Inc. 106 5,518 
HanAll BioPharma Co. Ltd. (a) 434 9,015 
Hanjin Kal Corp. 643 10,876 
Hankook Tire Co. Ltd. 1,255 45,536 
Hanmi Pharm Co. Ltd. 112 38,233 
Hanmi Science Co. Ltd. 637 37,237 
Hanon Systems 2,454 23,551 
Hanssem Co. Ltd. 135 5,780 
Hanwha Aerospace Co. Ltd. (a) 884 22,042 
Hanwha Chemical Corp. 2,334 33,036 
Hanwha Corp. 1,437 35,390 
Hanwha Life Insurance Co. Ltd. 3,421 13,447 
HDC Hyundai Development Co. (a) 830 32,007 
HLB, Inc. (a) 582 44,173 
Hotel Shilla Co. 770 48,117 
HUGEL, Inc. (a) 23 5,531 
Hyosung Advanced Materials Co. (a) 11 1,007 
Hyosung Chemical Co. Ltd. (a) 10 1,139 
Hyosung Corp. 37 1,664 
Hyosung Heavy Industries Co. Ltd. (a) 33 1,225 
Hyosung TNC Co. Ltd. (a) 9 1,376 
Hyundai Construction Equipment Co. Ltd. 148 9,650 
Hyundai Department Store Co. Ltd. 458 34,802 
Hyundai Elevator Co. Ltd. 220 15,367 
Hyundai Engineering & Construction Co. Ltd. 1,457 58,420 
Hyundai Fire & Marine Insurance Co. Ltd. 1,084 39,712 
Hyundai Glovis Co. Ltd. 333 33,271 
Hyundai Greenfood Co. Ltd. 564 6,105 
Hyundai Heavy Industries Co. Ltd. (a) 962 104,968 
Hyundai Industrial Development & Construction Co. 92 1,355 
Hyundai Merchant Marine Co. Ltd. (a) 4,077 13,507 
Hyundai Mipo Dockyard Co. Ltd. (a) 115 9,474 
Hyundai Mobis 1,342 223,471 
Hyundai Motor Co. 2,433 227,094 
Hyundai Robotics Co. Ltd. (a) 212 66,238 
Hyundai Steel Co. 1,807 66,119 
Hyundai Wia Corp. 73 1,894 
Industrial Bank of Korea 4,579 59,595 
ING Life Insurance Korea Ltd. (b) 312 8,381 
JB Financial Group Co. Ltd. 4,677 22,504 
Kakao Corp. 823 66,071 
Kangwon Land, Inc. 2,081 52,344 
KB Financial Group, Inc. 8,018 333,479 
KCC Corp. 118 25,544 
KEPCO Plant Service & Engineering Co. Ltd. 71 1,711 
Kia Motors Corp. 5,321 132,442 
Kiwoom Securities Co. Ltd. 283 18,726 
Koh Young Technology, Inc. 112 8,854 
Kolmar Korea Co. Ltd. 161 7,648 
Kolon Industries, Inc. 188 8,271 
Komipharm International Co. Ltd. (a) 488 9,110 
Korea Aerospace Industries Ltd. (a) 1,340 33,999 
Korea Electric Power Corp. 6,201 147,932 
Korea Express Co. Ltd. (a) 198 27,505 
Korea Gas Corp. (a) 828 37,808 
Korea Investment Holdings Co. Ltd. 798 41,474 
Korea Petro Chemical Industries Co. Ltd. 48 6,563 
Korea Zinc Co. Ltd. 271 90,017 
Korean Air Lines Co. Ltd. 1,779 42,799 
Korean Reinsurance Co. 1,263 10,726 
KT&G Corp. 2,460 218,834 
Kumho Petro Chemical Co. Ltd. 285 21,506 
LG Chemical Ltd. 801 243,599 
LG Corp. 2,650 153,983 
LG Display Co. Ltd. 4,707 68,595 
LG Electronics, Inc. 2,145 119,000 
LG Household & Health Care Ltd. 166 151,888 
LG Innotek Co. Ltd. 244 26,517 
LG International Corp. 404 5,541 
LG Telecom Ltd. 5,690 80,538 
Lotte Chemical Corp. 321 73,850 
Lotte Confectionery Co. Ltd. (a) 235 9,793 
Lotte Fine Chemical Co. Ltd. 192 6,857 
Lotte Shopping Co. Ltd. 280 47,485 
LS Cable Ltd. 505 22,351 
LS Industrial Systems Ltd. 163 7,021 
Mando Corp. 315 8,434 
Medipost Co. Ltd. (a) 81 5,551 
Medy-Tox, Inc. 68 27,796 
Meritz Fire & Marine Insurance Co. Ltd. 1,490 23,767 
Meritz Securities Co. Ltd. 4,710 16,388 
Mirae Asset Daewoo Co. Ltd. 8,691 48,977 
Naturecell Co. Ltd. (a) 299 3,774 
NAVER Corp. 2,762 277,168 
NCSOFT Corp. 338 127,231 
Netmarble Corp. (b) 802 78,724 
NHN Entertainment Corp. (a) 26 1,045 
Nong Shim Co. Ltd. 43 8,216 
Oci Co. Ltd. 303 22,625 
Orion Corp./Republic of Korea 360 30,005 
Ottogi Corp. 50 28,878 
Paradise Co. Ltd. 526 8,252 
Pearl Abyss Corp. (a) 128 23,065 
Poongsan Corp. 57 1,206 
POSCO 1,532 350,218 
POSCO Chemtech Co. Ltd. 355 20,255 
Posco Daewoo Corp. 1,050 16,380 
S-Oil Corp. 835 90,745 
S1 Corp. 395 33,407 
Samsung Biologics Co. Ltd. (a)(b) 320 108,677 
Samsung Card Co. Ltd. 361 10,646 
Samsung Electro-Mechanics Co. Ltd. 1,148 118,724 
Samsung Electronics Co. Ltd. 103,693 3,853,272 
Samsung Engineering Co. Ltd. (a) 2,028 32,437 
Samsung Fire & Marine Insurance Co. Ltd. 788 192,338 
Samsung Heavy Industries Co. Ltd. (a) 5,094 31,073 
Samsung Life Insurance Co. Ltd. 1,772 142,878 
Samsung SDI Co. Ltd. 1,054 217,543 
Samsung SDS Co. Ltd. 771 130,077 
Samsung Securities Co. Ltd. 2,065 48,413 
Seegene, Inc. (a) 66 1,064 
Seoul Semiconductor Co. Ltd. 913 16,364 
Shinhan Financial Group Co. Ltd. 9,141 340,032 
Shinsegae Co. Ltd. 131 29,679 
SillaJen, Inc. (a) 846 51,086 
SK C&C Co. Ltd. 682 156,304 
SK Chemicals Co. Ltd./New (a) 23 1,218 
SK Energy Co. Ltd. 1,190 222,669 
SK Hynix, Inc. 10,946 654,266 
SK Materials Co., Ltd. 77 12,566 
SK Networks Co. Ltd. 1,507 5,620 
SK Telecom Co. Ltd. 996 233,723 
SKC Co. Ltd. 449 13,045 
Studio Dragon Corp. 79 6,370 
STX Pan Ocean Co. Ltd. (Korea) (a) 2,228 9,314 
ViroMed Co. Ltd. (a) 305 49,800 
WONIK IPS Co. Ltd. 122 2,032 
Woori Bank 6,782 93,617 
Woori Investment & Securities Co. Ltd. 3,136 33,394 
Young Poong Corp. 2 1,152 
Yuhan Corp. 234 34,351 
YUNGJIN Pharmaceutical Co. Ltd. (a) 994 4,809 
TOTAL KOREA (SOUTH)  13,586,311 
Luxembourg - 0.2%   
Aperam 992 33,820 
ArcelorMittal SA (Netherlands) 11,820 295,070 
B&M European Value Retail S.A. 13,689 72,929 
Eurofins Scientific SA 184 93,033 
Millicom International Cellular SA (depository receipt) 1,175 66,382 
PLAY Communications SA (b) 517 2,223 
SES SA (France) (depositary receipt) 7,231 155,409 
Subsea 7 SA 5,446 68,771 
Tenaris SA 8,795 129,468 
TOTAL LUXEMBOURG  917,105 
Malaysia - 0.5%   
AirAsia Group BHD 56,700 35,637 
AMMB Holdings Bhd 16,800 15,256 
Astro Malaysia Holdings Bhd (b) 21,600 6,969 
Axiata Group Bhd 54,700 44,576 
British American Tobacco (Malaysia) Bhd 2,700 20,067 
Bumiputra-Commerce Holdings Bhd 92,348 126,235 
Bursa Malaysia Bhd 7,100 12,420 
Dialog Group Bhd 63,700 51,605 
DiGi.com Bhd 38,600 39,758 
Gamuda Bhd 28,200 16,107 
Genting Bhd 42,300 74,198 
Genting Malaysia Bhd 65,000 69,745 
Hartalega Holdings Bhd 21,600 32,314 
Hong Leong Bank Bhd 10,500 51,942 
IHH Healthcare Bhd (b) 55,600 66,436 
IJM Corp. Bhd 24,500 9,544 
IOI Corp. Bhd 55,200 59,362 
IOI Properties Group Bhd 22,800 7,138 
Kuala Lumpur Kepong Bhd 8,500 50,620 
Lotte Chemical Titan Holding BHD 8,800 9,043 
Malayan Banking Bhd 81,372 184,543 
Malaysia Airports Holdings Bhd 13,000 25,786 
Maxis Bhd 25,000 31,246 
MISC Bhd 28,200 41,109 
My E.G.Services Bhd 22,900 6,567 
Nestle (Malaysia) BHD 700 24,055 
Petronas Chemicals Group Bhd 34,500 77,088 
Petronas Dagangan Bhd 4,000 24,854 
Petronas Gas Bhd 7,100 31,016 
PPB Group Bhd 11,400 45,660 
Press Metal Bhd 44,600 51,587 
Public Bank Bhd 44,600 262,196 
RHB Capital Bhd 24,900 31,121 
Sime Darby Bhd 255,300 134,224 
Sime Darby Plantation Bhd 56,500 71,022 
Sime Darby Property Bhd 33,700 7,852 
Telekom Malaysia Bhd 31,500 17,916 
Tenaga Nasional Bhd 51,200 179,864 
Top Glove Corp. Bhd 24,600 34,920 
YTL Corp. Bhd 111,700 28,295 
TOTAL MALAYSIA  2,109,893 
Malta - 0.0%   
Kindred Group PLC (depositary receipt) 4,463 47,609 
Mauritius - 0.0%   
Golden Agri-Resources Ltd. 127,300 23,435 
Mexico - 0.6%   
Alfa SA de CV Series A 64,800 68,299 
America Movil S.A.B. de CV Series L 441,600 319,788 
Banco Santander Mexico SA 33,065 41,231 
CEMEX S.A.B. de CV unit (a) 281,000 140,270 
Coca-Cola FEMSA S.A.B. de CV Series L 9,800 55,896 
Embotelladoras Arca S.A.B. de CV 6,700 33,693 
Fibra Uno Administracion SA de CV 51,400 55,238 
Fomento Economico Mexicano S.A.B. de CV unit 40,000 340,054 
Gruma S.A.B. de CV Series B 3,840 40,076 
Grupo Aeroportuario del Pacifico S.A.B. de CV Series B 7,000 57,910 
Grupo Aeroportuario del Sureste S.A.B. de CV Series B 3,885 64,575 
Grupo Aeroportuario Norte S.A.B. de CV 5,600 29,302 
Grupo Bimbo S.A.B. de CV Series A 22,200 41,584 
Grupo Carso SA de CV Series A1 7,200 21,189 
Grupo Elektra SA de CV 1,210 51,213 
Grupo Financiero Banorte S.A.B. de CV Series O 45,400 249,783 
Grupo Financiero Inbursa S.A.B. de CV Series O 29,500 38,238 
Grupo Mexico SA de CV Series B 63,300 146,056 
Grupo Televisa SA de CV 46,800 134,917 
Industrias Penoles SA de CV 1,250 17,618 
Infraestructura Energetica Nova S.A.B. de CV 10,000 39,201 
Mexichem S.A.B. de CV 19,000 50,191 
Promotora y Operadora de Infraestructura S.A.B. de CV 2,240 20,385 
Wal-Mart de Mexico SA de CV Series V 89,900 229,604 
TOTAL MEXICO  2,286,311 
Multi-National - 0.0%   
HKT Trust/HKT Ltd. unit 54,000 74,369 
Netherlands - 2.9%   
Aalberts Industries NV 2,073 76,192 
ABN AMRO Group NV GDR 3,842 94,431 
AEGON NV 25,876 159,086 
AerCap Holdings NV (a) 3,270 163,762 
Airbus Group NV 11,228 1,240,854 
Akzo Nobel NV 4,703 395,679 
Altice Europe NV Class A 8,831 21,075 
ASML Holding NV (Netherlands) 8,189 1,410,507 
Cimpress NV (a) 617 77,119 
CNH Industrial NV 18,590 193,420 
Euronext NV (b) 1,399 86,280 
EXOR NV 1,767 100,150 
Ferrari NV 2,333 273,496 
Fiat Chrysler Automobiles NV 20,249 308,476 
Gemalto NV (a) 1,412 80,541 
Heineken Holding NV 2,143 185,686 
Heineken NV (Bearer) 3,887 350,448 
ING Groep NV (Certificaten Van Aandelen) 71,930 851,004 
Interxion Holding N.V. (a) 1,598 94,074 
Koninklijke Ahold Delhaize NV 23,888 547,358 
Koninklijke DSM NV 3,440 301,497 
Koninklijke KPN NV 84,053 221,776 
Koninklijke Philips Electronics NV 17,674 659,167 
NN Group NV 5,504 236,896 
NXP Semiconductors NV 5,754 431,492 
QIAGEN NV (Germany) (a) 4,379 159,063 
Randstad NV 2,459 124,080 
RHI Magnesita NV 371 17,963 
STMicroelectronics NV (Italy) 12,660 192,359 
Unibail-Rodamco SE & WFD Unibail-Rodamco NV unit 1,835 333,128 
Unilever NV (Certificaten Van Aandelen) (Bearer) 31,945 1,716,565 
Wolters Kluwer NV 5,604 318,384 
X5 Retail Group NV GDR (Reg. S) 1,728 40,608 
Yandex NV Series A (a) 4,541 136,820 
TOTAL NETHERLANDS  11,599,436 
New Zealand - 0.2%   
Auckland International Airport Ltd. 16,745 76,379 
Contact Energy Ltd. 12,724 46,414 
Fisher & Paykel Healthcare Corp. 10,576 93,859 
Fletcher Building Ltd. 14,056 55,400 
Kiwi Property Group Ltd. 27,988 24,017 
Mercury Nz Ltd. 13,461 29,866 
Meridian Energy Ltd. 23,101 47,259 
Ryman Healthcare Group Ltd. 7,930 62,614 
SKYCITY Entertainment Group Ltd. 12,578 31,436 
Spark New Zealand Ltd. 35,877 92,476 
The a2 Milk Co. Ltd. (a) 13,909 94,575 
Trade Maine Group Ltd. 8,433 26,689 
Z Energy Ltd. 6,464 25,730 
TOTAL NEW ZEALAND  706,714 
Norway - 0.6%   
Aker ASA (A Shares) 512 38,932 
Aker Bp ASA 1,634 53,886 
DNB ASA 17,123 309,867 
Entra ASA (b) 1,906 25,821 
Equinor ASA 19,389 504,402 
Gjensidige Forsikring ASA 3,658 56,672 
Leroy Seafood Group ASA 3,607 33,238 
Marine Harvest ASA 7,067 171,020 
Norsk Hydro ASA 25,926 134,585 
Norwegian Finans Holding ASA (a) 2,051 18,333 
Orkla ASA 15,443 133,256 
Salmar ASA 1,074 56,695 
Schibsted ASA:   
(A Shares) 1,721 59,634 
(B Shares) 1,013 32,085 
SpareBank 1 SR-Bank ASA (primary capital certificate) 2,608 29,020 
Sparebanken Midt-Norge 2,825 28,820 
Storebrand ASA (A Shares) 9,547 79,458 
Telenor ASA 12,982 238,163 
TGS Nopec Geophysical Co. ASA 2,102 70,542 
Tomra Systems ASA 2,218 54,991 
Veidekke ASA 1,381 14,416 
XXL ASA (b) 495 2,548 
Yara International ASA 3,346 143,965 
TOTAL NORWAY  2,290,349 
Pakistan - 0.0%   
Engro Corp. Ltd. 3,300 8,345 
Habib Bank Ltd. 5,800 6,382 
Lucky Cement Ltd. 1,800 6,757 
Pakistan Oilfields Ltd. 5,820 23,938 
Pakistan Petroleum Ltd. 18,630 26,288 
Pakistan State Oil Co. Ltd. 3,120 6,607 
United Bank Ltd. 9,400 10,643 
TOTAL PAKISTAN  88,960 
Papua New Guinea - 0.0%   
Oil Search Ltd. ADR 22,021 121,167 
Philippines - 0.3%   
Aboitiz Equity Ventures, Inc. 36,040 31,699 
Alliance Global Group, Inc. (a) 76,900 16,348 
Ayala Corp. 6,750 116,212 
Ayala Land, Inc. 139,300 103,360 
Bank of the Philippine Islands (BPI) 24,710 37,987 
BDO Unibank, Inc. 33,030 75,657 
DMCI Holdings, Inc. 50,800 12,206 
GT Capital Holdings, Inc. 790 11,236 
International Container Terminal Services, Inc. 32,940 55,787 
JG Summit Holdings, Inc. 63,410 56,128 
Jollibee Food Corp. 12,410 64,097 
Manila Electric Co. 5,380 37,030 
Megaworld Corp. 127,000 10,481 
Metro Pacific Investments Corp. 291,400 26,175 
Metropolitan Bank & Trust Co. 43,350 53,177 
Philippine Long Distance Telephone Co. 2,840 73,385 
Security Bank Corp. 12,200 32,967 
SM Investments Corp. 12,970 218,444 
SM Prime Holdings, Inc. 288,400 182,419 
Universal Robina Corp. 17,600 42,817 
TOTAL PHILIPPINES  1,257,612 
Poland - 0.3%   
Alior Bank SA (a) 1,961 29,514 
Bank Millennium SA (a) 12,323 28,358 
Bank Polska Kasa Opieki SA 2,588 70,616 
Bank Zachodni WBK SA 606 53,759 
BRE Bank SA 183 17,837 
CD Projekt RED SA (a) 1,266 52,228 
Cyfrowy Polsat SA (a) 4,549 26,200 
Grupa Lotos SA 1,195 21,576 
ING Bank Slaski SA 683 29,013 
Jastrzebska Spolka Weglowa SA (a) 538 10,375 
KGHM Polska Miedz SA (Bearer) (a) 2,661 60,250 
LPP SA 29 59,328 
NG2 SA 363 15,798 
Polish Oil & Gas Co. SA 34,192 55,781 
Polska Grupa Energetyczna SA (a) 15,826 43,348 
Polski Koncern Naftowy Orlen SA 5,838 140,338 
Powszechna Kasa Oszczednosci Bank SA 16,446 171,140 
Powszechny Zaklad Ubezpieczen SA 9,652 98,554 
TOTAL POLAND  984,013 
Portugal - 0.1%   
Banco Comercial Portugues SA (Reg.) (a) 208,830 56,342 
Energias de Portugal SA 44,855 157,699 
Galp Energia SGPS SA Class B 7,971 138,992 
Jeronimo Martins SGPS SA 4,989 61,368 
NOS SGPS SA 4,969 27,916 
Portucel Industrial Empresa Produtora de Celulosa SA 3,625 18,066 
Sonae SGPS SA 11,097 11,117 
TOTAL PORTUGAL  471,500 
Qatar - 0.3%   
Barwa Real Estate Co. (a) 2,208 22,674 
Doha Bank (a) 2,236 13,492 
Industries Qatar QSC (a) 3,772 145,027 
Masraf al Rayan (a) 12,108 126,334 
Qatar Electricity & Water Co. (a) 815 42,055 
Qatar Islamic Bank (a) 3,844 161,530 
Qatar National Bank SAQ 8,609 461,070 
Qatar Navigation QPSC (a) 1,663 32,452 
Qatar Telecom (Qtel) Q.S.C. (a) 1,884 35,641 
TOTAL QATAR  1,040,275 
Russia - 0.7%   
Alrosa Co. Ltd. 46,400 70,367 
Gazprom OAO 224,590 530,060 
Lukoil PJSC 7,966 597,990 
Magnit OJSC 1,131 61,637 
MMC Norilsk Nickel PJSC 1,252 209,067 
Moscow Exchange MICEX-RTS OAO 21,820 29,116 
NOVATEK OAO 12,190 194,266 
Novolipetsk Steel OJSC 1,450 3,531 
Novolipetsk Steel OJSC GDR (Reg. S) 1,613 38,970 
Sberbank of Russia 184,400 530,018 
Severstal PAO 3,140 49,097 
Surgutneftegas OJSC 139,300 56,186 
Tatneft PAO 27,860 331,746 
VTB Bank OJSC (a) 105,000,000 58,307 
TOTAL RUSSIA  2,760,358 
Singapore - 0.9%   
Ascendas Real Estate Investment Trust 47,000 85,507 
CapitaCommercial Trust (REIT) 43,100 53,830 
CapitaLand Ltd. 50,300 114,025 
CapitaMall Trust 54,000 82,258 
City Developments Ltd. 12,500 71,382 
ComfortDelgro Corp. Ltd. 41,700 67,736 
DBS Group Holdings Ltd. 32,800 555,527 
Flextronics International Ltd. (a) 11,169 87,788 
Hutchison Port Holdings Trust 98,200 24,059 
Jardine Cycle & Carriage Ltd. 1,500 32,780 
K-REIT Asia 40,400 32,958 
Keppel Corp. Ltd. 28,500 127,567 
Mapletree Commercial Trust 27,900 32,429 
Mapletree Greater China Commercial Trust 34,100 27,819 
Mapletree Industrial (REIT) 18,000 24,041 
Mapletree Logistics Trust (REIT) 32,000 27,954 
Oversea-Chinese Banking Corp. Ltd. 69,527 539,090 
Sembcorp Industries Ltd. 18,500 37,664 
Sembcorp Marine Ltd. 19,900 22,987 
Singapore Airlines Ltd. 10,100 69,125 
Singapore Airport Terminal Service Ltd. 12,500 44,941 
Singapore Exchange Ltd. 14,900 73,578 
Singapore Press Holdings Ltd. 25,200 48,211 
Singapore Technologies Engineering Ltd. 29,900 76,631 
Singapore Telecommunications Ltd. 148,900 339,692 
Suntec (REIT) 45,300 57,886 
United Overseas Bank Ltd. 26,500 466,426 
UOL Group Ltd. 11,900 51,805 
Venture Corp. Ltd. 5,100 56,407 
Wilmar International Ltd. 69,900 159,466 
Yangzijiang Shipbuilding Holdings Ltd. 42,700 38,225 
TOTAL SINGAPORE  3,529,794 
South Africa - 1.2%   
AngloGold Ashanti Ltd. 7,744 74,965 
Aspen Pharmacare Holdings Ltd. 6,300 66,619 
AVI Ltd. 5,990 40,603 
Barclays Africa Group Ltd. 5,996 60,604 
Barloworld Ltd. 3,379 27,486 
Bidcorp Ltd. 4,786 89,764 
Bidvest Group Ltd. 5,507 68,600 
Capitec Bank Holdings Ltd. 1,097 73,667 
Clicks Group Ltd. 4,125 52,567 
Discovery Ltd. 6,793 72,721 
Exxaro Resources Ltd. 4,424 45,252 
FirstRand Ltd. 61,307 267,253 
Foschini Ltd. 3,619 39,550 
Gold Fields Ltd. 13,037 34,467 
Growthpoint Properties Ltd. 43,892 67,389 
Hyprop Investments Ltd. 2,175 13,309 
Impala Platinum Holdings Ltd. (a) 7,968 14,691 
Imperial Holdings Ltd. 2,789 30,799 
Investec Ltd. 4,009 24,939 
Life Healthcare Group Holdings Ltd. 21,326 35,417 
Mondi Ltd. 2,234 53,437 
Mr Price Group Ltd. 5,017 78,548 
MTN Group Ltd. 29,175 169,087 
Naspers Ltd. Class N 8,170 1,435,838 
Nedbank Group Ltd. 6,707 113,168 
Netcare Ltd. 29,934 50,382 
Old Mutual Ltd. 92,323 139,249 
Pick 'n Pay Stores Ltd. 4,913 22,689 
Rand Merchant Insurance Holdings Ltd. 11,837 27,553 
Redefine Properties Ltd. 103,197 67,084 
Remgro Ltd. 9,695 124,982 
Resilient Property Income Fund Ltd. 7,176 29,098 
RMB Holdings Ltd. 14,474 73,054 
Sanlam Ltd. 30,144 151,737 
Sappi Ltd. 8,884 49,947 
Sasol Ltd. 9,397 307,094 
Shoprite Holdings Ltd. 7,267 88,815 
Spar Group Ltd. 4,000 47,675 
Standard Bank Group Ltd. 24,334 269,410 
Tiger Brands Ltd. 3,626 64,785 
Truworths International Ltd. 7,773 42,636 
Vodacom Group Ltd. 9,550 80,530 
Woolworths Holdings Ltd. 11,940 41,220 
TOTAL SOUTH AFRICA  4,728,680 
Spain - 2.0%   
ACS Actividades de Construccion y Servicios SA 3,686 138,233 
Aena Sme SA 1,358 217,108 
Amadeus IT Holding SA Class A 8,160 657,876 
Banco Bilbao Vizcaya Argentaria SA 122,937 678,501 
Banco de Sabadell SA 102,331 135,030 
Banco Santander SA 273,515 1,301,373 
Banco Santander SA rights (a) 227,251 8,829 
Bankia SA 19,546 61,524 
Bankinter SA 12,055 98,910 
CaixaBank SA 66,555 269,329 
Cellnex Telecom Sau (b) 3,272 81,570 
EDP Renovaveis SA 4,037 36,306 
Enagas SA 4,215 111,905 
Endesa SA 5,675 118,786 
Ferrovial SA 9,853 197,532 
Gas Natural SDG SA 6,558 161,334 
Grifols SA 6,043 172,416 
Grifols SA ADR 4,653 95,014 
Iberdrola SA 109,719 777,453 
Inditex SA 20,904 590,266 
Inmobiliaria Colonial SA 6,674 67,089 
International Consolidated Airlines Group SA 2,604 20,115 
International Consolidated Airlines Group SA CDI 39,017 300,925 
MAPFRE SA (Reg.) 16,696 50,000 
Merlin Properties Socimi SA 9,494 119,147 
Red Electrica Corporacion SA 7,857 162,691 
Repsol SA 20,806 371,779 
Siemens Gamesa Renewable Energy SA (a) 4,421 49,033 
Telefonica SA 80,012 656,343 
TOTAL SPAIN  7,706,417 
Sweden - 2.0%   
AarhusKarlshamn AB 3,499 52,765 
Alfa Laval AB 5,314 135,708 
ASSA ABLOY AB (B Shares) 18,265 363,305 
Atlas Copco AB:   
(A Shares) 11,828 292,884 
(B Shares) 7,402 169,658 
Axfood AB 1,935 34,519 
Billerud AB 2,807 33,281 
Boliden AB 5,244 119,852 
Castellum AB 4,966 85,660 
Com Hem Holding AB 3,063 47,797 
Dometic Group AB (b) 6,106 42,703 
Electrolux AB (B Shares) 4,660 96,855 
Elekta AB (B Shares) 7,369 93,450 
Epiroc AB:   
Class A (a) 12,941 113,640 
Class B (a) 6,312 52,028 
Essity AB Class B 11,210 255,899 
Fabege AB 5,688 72,661 
Fastighets AB Balder (a) 1,952 49,018 
Getinge AB (B Shares) 4,943 48,560 
H&M Hennes & Mauritz AB (B Shares) 17,514 309,346 
Hemfosa Fastigheter AB 2,512 31,046 
Hexagon AB (B Shares) 4,754 233,047 
HEXPOL AB (B Shares) 5,403 50,008 
Holmen AB (B Shares) 1,943 44,524 
Husqvarna AB (B Shares) 7,847 59,270 
ICA Gruppen AB 1,473 52,136 
Industrivarden AB:   
(A Shares) 4,076 87,033 
(C Shares) 2,662 55,328 
Indutrade AB 1,663 39,907 
Intrum Justitia AB 1,336 34,075 
Investor AB (B Shares) 8,196 355,294 
Kinnevik AB (B Shares) 4,437 123,105 
Loomis AB (B Shares) 1,124 34,760 
Lundbergfoeretagen AB 1,087 33,544 
Lundin Petroleum AB 4,041 123,379 
Modern Times Group MTG AB (B Shares) 996 36,809 
Nibe Industrier AB (B Shares) 8,255 86,220 
Saab AB (B Shares) 1,350 52,902 
Sandvik AB 20,492 324,472 
Securitas AB (B Shares) 5,975 102,476 
Skandinaviska Enskilda Banken AB (A Shares) 31,919 330,521 
Skanska AB (B Shares) 7,660 120,578 
SKF AB (B Shares) 7,282 116,975 
SSAB Svenskt Stal AB (B Shares) 9,380 30,432 
Svenska Cellulosa AB (SCA) (B Shares) 60,443 572,122 
Svenska Handelsbanken AB (A Shares) 27,935 303,649 
Swedbank AB (A Shares) 19,264 433,859 
Swedish Match Co. AB 3,523 179,516 
Swedish Orphan Biovitrum AB (a) 3,367 68,730 
Tele2 AB (B Shares) 6,718 76,348 
Telefonaktiebolaget LM Ericsson (B Shares) 56,763 494,222 
TeliaSonera AB 50,985 229,877 
Trelleborg AB (B Shares) 4,962 89,630 
Volvo AB:   
(A Shares) 4,293 64,363 
(B Shares) 31,226 466,796 
Wallenstam AB (B Shares) 3,562 32,093 
TOTAL SWEDEN  8,038,635 
Switzerland - 5.5%   
ABB Ltd. (Reg.) 37,357 751,680 
Adecco SA (Reg.) 3,288 161,078 
Baloise Holdings AG 934 133,727 
Clariant AG (Reg.) 5,555 119,743 
Coca-Cola HBC AG 3,817 112,702 
Compagnie Financiere Richemont SA Series A 9,732 711,318 
Credit Suisse Group AG 37,964 496,329 
Geberit AG (Reg.) 681 266,612 
Givaudan SA 144 349,438 
Julius Baer Group Ltd. 4,274 194,915 
Kuehne & Nagel International AG 1,069 148,704 
Lafargeholcim Ltd. (Reg.) 8,985 416,175 
Lindt & Spruengli AG 2 159,658 
Lindt & Spruengli AG (participation certificate) 19 131,113 
Logitech International SA (Reg.) 3,332 123,302 
Lonza Group AG 1,151 361,934 
Nestle SA (Reg. S) 57,649 4,866,911 
Novartis AG 49,392 4,325,374 
Partners Group Holding AG 345 245,780 
Roche Holding AG:   
(Bearer) 690 167,987 
(participation certificate) 12,932 3,147,163 
Schindler Holding AG (participation certificate) 739 155,849 
SGS SA (Reg.) 101 239,877 
Sika AG 2,425 311,086 
Sonova Holding AG Class B 1,037 169,427 
Straumann Holding AG 203 138,572 
Swatch Group AG (Bearer) 555 187,801 
Swatch Group AG (Bearer) (Reg.) 1,626 108,572 
Swiss Life Holding AG 581 219,328 
Swiss Prime Site AG 1,384 112,407 
Swiss Re Ltd. 6,021 543,782 
Swisscom AG 478 218,983 
Temenos Group AG 1,131 155,531 
UBS Group AG 71,110 994,827 
Zurich Insurance Group AG 2,723 845,441 
TOTAL SWITZERLAND  21,793,126 
Taiwan - 2.6%   
Accton Technology Corp. 8,000 22,015 
Acer, Inc. 45,000 31,540 
Advantech Co. Ltd. 7,000 48,158 
ASE Industrial Holding Co. Ltd. 59,000 118,913 
Asia Cement Corp. 50,000 52,890 
Asia Optical Co., Inc. 1,000 1,789 
ASUSTeK Computer, Inc. 13,000 96,155 
AU Optronics Corp. 140,000 54,668 
Catcher Technology Co. Ltd. 15,000 150,918 
Cathay Financial Holding Co. Ltd. 161,000 254,809 
Chang Hwa Commercial Bank 123,720 70,131 
Cheng Shin Rubber Industry Co. Ltd. 44,000 61,892 
Chicony Electronics Co. Ltd. 7,000 13,995 
China Airlines Ltd. 94,000 27,811 
China Development Finance Holding Corp. 306,000 98,144 
China Life Insurance Co. Ltd. 84,120 79,880 
China Petrochemical Development Corp. (a) 24,000 8,760 
China Steel Corp. 235,000 185,204 
China Synthetic Rubber Corp. 2,658 2,970 
Chinatrust Financial Holding Co. Ltd. 381,000 254,119 
Chipbond Technology Corp. 17,000 31,188 
Chroma ATE, Inc. 6,000 21,027 
Chunghwa Telecom Co. Ltd. 96,000 338,895 
Compal Electronics, Inc. 90,000 49,563 
Compeq Manufacturing Co. Ltd. 11,000 7,035 
CTCI Corp. 18,000 25,378 
Delta Electronics, Inc. 37,000 155,359 
E Ink Holdings, Inc. 8,000 6,305 
E.SUN Financial Holdings Co. Ltd. 203,000 134,413 
ECLAT Textile Co. Ltd. 4,000 47,480 
Elite Material Co. Ltd. 4,000 7,997 
eMemory Technology, Inc. 1,000 7,397 
EPISTAR Corp. 29,000 26,180 
EVA Airways Corp. 33,600 15,356 
Evergreen Marine Corp. (Taiwan) 69,750 25,683 
Evergreen Marine Corp. (Taiwan) rights 11/18/18 (a) 3,973 90 
Far Eastern Textile Ltd. 79,000 79,228 
Far EasTone Telecommunications Co. Ltd. 37,000 88,077 
Feng Tay Enterprise Co. Ltd. 6,000 36,046 
First Financial Holding Co. Ltd. 194,420 122,766 
FLEXium Interconnect, Inc. 4,000 10,039 
Formosa Chemicals & Fibre Corp. 68,000 245,991 
Formosa Petrochemical Corp. 35,000 137,918 
Formosa Plastics Corp. 92,000 300,124 
Foxconn Technology Co. Ltd. 23,000 48,733 
Fubon Financial Holding Co. Ltd. 139,000 217,521 
Genius Electronic Optical Co. Ltd. 1,000 6,460 
Giant Manufacturing Co. Ltd. 3,000 11,434 
Giga-Byte Technology Co. Ltd. 6,000 7,839 
Global Unichip Corp. 1,000 6,783 
Grand Pacific Petrochemical Corp. 8,000 5,388 
Grape King Bio Ltd. 1,000 6,298 
Great Wall Enterprise Co. Ltd. 7,490 7,282 
HannStar Display Corp. 10,000 2,196 
Highwealth Construction Corp. 11,000 16,112 
HIWIN Technologies Corp. 3,000 19,380 
Hon Hai Precision Industry Co. Ltd. (Foxconn) 219,800 559,430 
Hota Industrial Manufacturing Co. Ltd. 3,000 12,548 
Hotai Motor Co. Ltd. 6,000 41,375 
HTC Corp. (a) 10,000 10,853 
Hua Nan Financial Holdings Co. Ltd. 169,890 95,754 
Innolux Corp. 176,000 53,265 
Inventec Corp. 50,000 40,293 
King Slide Works Co. Ltd. 1,000 10,384 
King Yuan Electronics Co. Ltd. 4,000 2,332 
Largan Precision Co. Ltd. 2,000 216,405 
Lee Chang Yung Chemical Industry Corp. 6,000 10,058 
Lien Hwa Industrial Corp. 9,900 9,737 
Lite-On Technology Corp. 45,000 51,598 
Macronix International Co. Ltd. 37,340 20,684 
Makalot Industrial Co. Ltd. 4,000 21,447 
MediaTek, Inc. 30,000 220,442 
Mega Financial Holding Co. Ltd. 210,000 177,371 
Merida Industry Co. Ltd. 3,000 10,513 
Merry Electronics Co. Ltd. 4,000 17,248 
Micro-Star International Co. Ltd. 15,000 33,091 
Nan Ya Plastics Corp. 98,000 243,413 
Nanya Technology Corp. 7,000 11,621 
Novatek Microelectronics Corp. 9,000 39,680 
OBI Pharma, Inc. (a) 1,000 3,908 
Pegatron Corp. 43,000 78,193 
Phison Electronics Corp. 4,000 26,227 
Pou Chen Corp. 58,000 58,730 
Powertech Technology, Inc. 8,000 17,467 
President Chain Store Corp. 11,000 123,997 
Primax Electronics Ltd. 2,000 2,687 
Qisda Corp. 52,000 29,476 
Quanta Computer, Inc. 43,000 67,846 
Radiant Opto-Electronics Corp. 9,000 23,517 
Realtek Semiconductor Corp. 7,000 28,036 
Ruentex Development Co. Ltd. 7,800 10,783 
Ruentex Industries Ltd. 3,600 9,011 
Shin Kong Financial Holding Co. Ltd. 202,843 66,499 
Simplo Technology Co. Ltd. 2,000 11,595 
Sino-American Silicon Products, Inc. 11,000 20,465 
Sinopac Holdings Co. 245,180 83,151 
St.Shine Optical Co. Ltd. 1,000 17,765 
Standard Foods Corp. 2,000 3,001 
Synnex Technology International Corp. 31,000 33,342 
Taishin Financial Holdings Co. Ltd. 213,349 94,751 
Taishin Financial Holdings Co. Ltd. rights 11/22/18 (a) 3,153 306 
Taiwan Business Bank 110,840 36,516 
Taiwan Cement Corp. 70,000 78,455 
Taiwan Cooperative Financial Holding Co. Ltd. 178,890 100,537 
Taiwan Fertilizer Co. Ltd. 8,000 10,853 
Taiwan Mobile Co. Ltd. 50,000 178,453 
Taiwan Paiho Ltd. 2,000 2,952 
Taiwan Semiconductor Manufacturing Co. Ltd. 342,000 2,566,073 
Tatung Co. Ltd. (a) 42,000 48,836 
TECO Electric & Machinery Co. Ltd. 21,000 12,040 
Tong Yang Industry Co. Ltd. 1,000 1,127 
Tripod Technology Corp. 12,000 28,953 
TSRC Corp. 2,000 1,841 
TTY Biopharm Co. Ltd. 3,000 7,829 
Unified-President Enterprises Corp. 94,000 227,406 
Unimicron Technology Corp. 23,000 11,180 
United Microelectronics Corp. 236,000 89,884 
Vanguard International Semiconductor Corp. 15,000 27,616 
Wafer Works Corp. 2,000 2,028 
Walsin Lihwa Corp. 48,000 23,798 
Walsin Technology Corp. 4,000 16,860 
Win Semiconductors Corp. 6,000 18,411 
Winbond Electronics Corp. 26,000 11,253 
Wistron Corp. 71,000 43,342 
Wistron NeWeb Corp. 1,020 2,372 
WPG Holding Co. Ltd. 30,040 35,657 
WT Microelectronics Co. Ltd. 1,000 1,287 
Yageo Corp. 6,000 61,142 
Yuanta Financial Holding Co. Ltd. 242,000 117,246 
TOTAL TAIWAN  10,393,964 
Thailand - 0.9%   
Advanced Info Service PCL 6,200 36,647 
Advanced Info Service PCL (For. Reg.) 14,600 86,297 
Airports of Thailand PCL 22,900 44,198 
Airports of Thailand PCL (For. Reg.) 58,700 113,293 
Bangkok Bank PCL 37,900 242,304 
Bangkok Chain Hospital PCL 26,200 15,407 
Bangkok Dusit Medical Services PCL 48,100 35,538 
Bangkok Dusit Medical Services PCL (For. Reg.) 130,000 96,049 
Bangkok Expressway and Metro PCL 106,400 27,274 
Bangkok Expressway and Metro PCL 92,100 23,608 
Bangkok Land PCL 207,800 10,779 
Bangkok Life Assurance PCL 11,600 11,107 
Banpu PCL 29,500 15,479 
Banpu PCL (For. Reg.) 50,700 26,604 
Banpu Power PCL 2,100 1,514 
BCPG PCL 2,600 1,466 
Beauty Community PCL 21,600 6,514 
Berli Jucker PCL (For. Reg) 16,200 27,236 
BTS Group Holdings PCL 87,000 24,006 
BTS Group Holdings PCL 58,900 16,253 
Bumrungrad Hospital PCL 4,200 24,445 
Bumrungrad Hospital PCL (For. Reg.) 4,800 27,937 
C.P. ALL PCL 30,000 60,841 
C.P. ALL PCL (For. Reg.) 76,600 155,348 
Carabao Group PCL 1,100 1,501 
Central Pattana PCL 19,400 46,218 
Central Pattana PCL (For. Reg.) 48,100 114,593 
Central Plaza Hotel PCL 12,200 14,809 
Central Plaza Hotel PCL (a) 3,700 4,491 
Charoen Pokphand Foods PCL 25,500 19,417 
Charoen Pokphand Foods PCL (For. Reg.) 57,900 44,089 
Delta Electronics PCL (For. Reg.) 2,400 4,994 
Electricity Generating PCL (For. Reg.) 4,700 32,741 
Energy Absolute PCL 9,400 14,032 
Energy Absolute PCL 16,500 24,631 
Esso Thailand PCL 14,100 6,166 
Global Power Synergy Public Co. Ltd. 5,800 10,101 
Glow Energy PCL 400 1,010 
Glow Energy PCL (For. Reg.) 5,700 14,396 
Hana Microelectronics PCL (For. Reg.) 5,400 5,903 
Home Product Center PCL 39,100 17,569 
Home Product Center PCL (For. Reg.) 67,500 30,330 
Indorama Ventures PCL 10,300 16,851 
Indorama Ventures PCL (For. Reg.) 18,700 30,593 
Intouch Holdings PCL 41,700 66,650 
IRPC PCL (For. Reg.) 165,200 30,390 
Jasmine International Public Co. Ltd. 9,700 1,506 
Kasikornbank PCL 40,500 243,660 
KCE Electronics PCL 17,400 19,546 
KCE Electronics PCL 1,900 2,134 
Kiatnakin Bank PCL (For. Reg.) 9,500 20,412 
Krung Thai Bank PCL 38,300 23,216 
Krung Thai Bank PCL (For. Reg.) 94,900 57,524 
Krungthai Card PCL 10,800 11,318 
Krungthai Card PCL (For. Reg.) 9,900 10,375 
Land & House PCL 43,100 13,388 
Land & House PCL (For. Reg.) 70,400 21,867 
Mega Lifesciences PCL 7,800 8,821 
Minor International PCL 14,800 16,291 
Minor International PCL (For. Reg.) 35,600 39,186 
MK Restaurants Group PCL 1,900 3,853 
Muangthai Leasing PCL 9,000 14,181 
Muangthai Leasing PCL 8,500 13,393 
PTT Exploration and Production PCL 7,700 32,393 
PTT Exploration and Production PCL (For. Reg.) 19,200 80,772 
PTT Global Chemical PCL 12,100 28,188 
PTT Global Chemical PCL (For. Reg.) 32,600 75,945 
PTT PCL 51,800 79,668 
PTT PCL (For. Reg.) 131,000 201,478 
Ratchaburi Electric Generating Holding PCL (For. Reg.) 16,400 24,234 
Robinsons Department Store PCL (For. Reg.) 6,700 13,184 
Siam Cement PCL 4,500 56,725 
Siam Cement PCL (For. Reg.) 11,500 144,964 
Siam City Cement PCL (For. Reg.) 900 6,514 
Siam Commercial Bank PCL 13,900 57,637 
Siam Commercial Bank PCL (For. Reg.) 36,600 151,764 
Siam Global House PCL 2,900 1,635 
Siam Global House PCL 12,500 7,049 
Sino-Thai Engineering & Construction PCL (For. Reg.) (a) 16,900 12,639 
Srisawad Corp. PCL 6,700 8,991 
Star Petroleum Refining PCL 22,700 9,652 
Thai Beverage PCL 193,400 87,265 
Thai Oil PCL 5,800 14,824 
Thai Oil PCL (For. Reg.) 15,200 38,848 
Thai Union Frozen Products PCL (For. Reg.) 52,300 26,182 
Thanachart Capital PCL (For. Reg.) 29,400 46,769 
TISCO Financial Group PCL 8,000 18,999 
TISCO Financial Group PCL 5,900 14,012 
TMB PCL (For. Reg.) 345,900 23,783 
TOA Paint Thailand PCL 1,600 1,628 
Total Access Communication PCL (For. Reg.) 7,500 10,743 
TPI Polene Power PCL 8,400 1,520 
True Corp. PCL 65,300 11,619 
True Corp. PCL (For. Reg.) 116,000 20,639 
TTW PCL 19,000 7,048 
WHA Corp. PCL 154,600 19,208 
TOTAL THAILAND  3,538,809 
Turkey - 0.2%   
Akbank T.A.S. 57,102 67,526 
Anadolu Efes Biracilik Ve Malt Sanayii A/S 656 2,205 
Arcelik A/S 7,498 20,832 
Bim Birlesik Magazalar A/S JSC 4,661 66,209 
Coca-Cola Icecek Sanayi A/S 270 1,331 
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S 4,530 1,353 
Enka Insaat ve Sanayi A/S 21,251 17,755 
Eregli Demir ve Celik Fabrikalari T.A.S. 33,629 54,508 
Ford Otomotiv Sanayi A/S 1,714 18,398 
Haci Omer Sabanci Holding A/S 24,041 30,623 
Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S Class D (a) 2,708 1,482 
Koc Holding A/S 23,056 64,264 
Petkim Petrokimya Holding A/S 2,254 2,049 
TAV Havalimanlari Holding A/S 2,515 10,466 
Tekfen Holding A/S 6,725 25,554 
Tofas Turk Otomobil Fabrikasi A/S 354 1,336 
Tupras Turkiye Petrol Rafinerileri A/S 2,230 52,542 
Turk Hava Yollari AO (a) 16,272 40,901 
Turk Sise ve Cam Fabrikalari A/S 12,756 10,794 
Turkcell Iletisim Hizmet A/S 16,569 33,644 
Turkiye Garanti Bankasi A/S 59,972 74,997 
Turkiye Halk Bankasi A/S 2,043 2,255 
Turkiye Is Bankasi A/S Series C 38,269 27,317 
Turkiye Vakiflar Bankasi TAO 3,411 2,087 
Ulker Biskuvi Sanayi A/S (a) 521 1,378 
Yapi ve Kredi Bankasi A/S (a) 9,658 2,799 
TOTAL TURKEY  634,605 
United Arab Emirates - 0.2%   
Abu Dhabi Commercial Bank PJSC (a) 35,270 77,681 
Aldar Properties PJSC 85,927 40,470 
Damac Properties Dubai Co. PJSC (a) 20,746 11,409 
DP World Ltd. 3,272 58,863 
Dubai Investments Ltd. (a) 44,368 19,568 
Dubai Islamic Bank Pakistan Ltd. (a) 70,039 100,297 
Emaar Properties PJSC 99,190 137,721 
Emirates Telecommunications Corp. (a) 66,757 316,233 
National Bank of Abu Dhabi PJSC 24,412 91,849 
Union National Bank (a) 13,096 16,971 
TOTAL UNITED ARAB EMIRATES  871,062 
United Kingdom - 10.2%   
3i Group PLC 17,888 200,796 
Admiral Group PLC 4,764 122,579 
Anglo American PLC (United Kingdom) 26,573 568,992 
Antofagasta PLC 7,571 75,947 
Ashtead Group PLC 9,670 239,232 
Associated British Foods PLC 6,591 201,011 
AstraZeneca PLC (United Kingdom) 23,283 1,780,909 
Atlassian Corp. PLC (a) 1,409 106,957 
Auto Trader Group PLC (b) 18,784 98,153 
Aviva PLC 74,931 409,490 
Babcock International Group PLC 10,079 78,741 
BAE Systems PLC 59,179 396,812 
Barclays PLC 288,636 635,954 
Barratt Developments PLC 18,791 123,456 
BBA Aviation PLC 15,704 48,215 
Bellway PLC 2,475 90,825 
Berkeley Group Holdings PLC 2,623 117,379 
BHP Billiton PLC 39,257 783,126 
BP PLC 348,536 2,517,727 
British American Tobacco PLC (United Kingdom) 34,237 1,484,183 
British Land Co. PLC 19,842 150,143 
BT Group PLC 164,245 502,919 
Bunzl PLC 6,259 184,886 
Burberry Group PLC 8,448 195,556 
Carnival PLC 4,077 222,219 
Centrica PLC 102,666 193,167 
Cobham PLC (a) 43,109 59,317 
Coca-Cola European Partners PLC 4,350 197,882 
Compass Group PLC 29,593 582,517 
Croda International PLC 2,562 157,843 
Derwent London PLC 2,255 84,424 
Diageo PLC 46,405 1,604,291 
Direct Line Insurance Group PLC 25,959 109,331 
DS Smith PLC 20,837 104,644 
easyJet PLC 5,366 82,306 
G4S PLC (United Kingdom) 30,106 82,735 
GlaxoSmithKline PLC 91,148 1,765,333 
Halma PLC 7,759 131,705 
Hammerson PLC 15,894 89,084 
Hargreaves Lansdown PLC 4,660 111,266 
Hays PLC 30,314 63,662 
HSBC Holdings PLC (United Kingdom) 368,543 3,032,962 
IMI PLC 5,599 71,173 
Imperial Tobacco Group PLC 17,904 607,136 
Inchcape PLC 8,406 58,128 
Informa PLC 14,930 136,180 
InterContinental Hotel Group PLC 3,757 197,370 
Intermediate Capital Group PLC 6,088 74,082 
International Game Technology PLC 1,950 36,173 
Intertek Group PLC 3,049 182,702 
Investec PLC 13,139 81,284 
ITV PLC 69,104 131,566 
J Sainsbury PLC 31,692 126,063 
John Wood Group PLC 6,948 63,428 
Johnson Matthey PLC 3,746 142,351 
Just Eat Holding Ltd. (a) 9,050 70,285 
Kingfisher PLC 42,974 139,544 
Land Securities Group PLC 14,390 156,932 
Legal & General Group PLC 106,962 343,848 
Lloyds Banking Group PLC 1,161,645 847,699 
London Stock Exchange Group PLC 5,743 316,751 
Man Group PLC 34,505 68,560 
Marks & Spencer Group PLC 31,511 119,221 
Mediclinic International PLC 6,296 30,331 
Meggitt PLC 15,205 102,967 
Melrose Industries PLC 29,450 63,485 
Micro Focus International PLC 3,805 58,986 
Mondi PLC 6,944 163,715 
National Grid PLC 66,829 708,310 
Next PLC 2,771 184,320 
Pearson PLC 15,535 178,465 
Pennon Group PLC 7,217 68,835 
Persimmon PLC 5,669 166,226 
Prudential PLC 47,547 952,063 
Quilter PLC 37,068 54,876 
Reckitt Benckiser Group PLC 12,445 1,006,354 
RELX PLC 19,240 381,185 
Rentokil Initial PLC 36,262 146,559 
Rightmove PLC 18,446 106,606 
Rio Tinto PLC 22,484 1,091,616 
Rolls-Royce Holdings PLC 35,087 376,280 
Royal Bank of Scotland Group PLC 58,737 176,828 
Royal Dutch Shell PLC:   
Class A (United Kingdom) 84,412 2,689,207 
Class B (United Kingdom) 65,849 2,147,529 
Royal Mail PLC 17,126 78,587 
RPC Group PLC 8,280 80,710 
RSA Insurance Group PLC 19,024 137,242 
Sage Group PLC 21,194 147,479 
Schroders PLC 2,158 73,924 
Scottish & Southern Energy PLC 18,818 274,280 
Segro PLC 16,242 127,594 
Severn Trent PLC 4,538 108,063 
Smith & Nephew PLC 16,691 271,310 
Smiths Group PLC 7,391 132,024 
Spectris PLC 2,477 67,881 
Spirax-Sarco Engineering PLC 1,440 119,087 
St. James's Place Capital PLC 10,053 130,232 
Standard Chartered PLC (United Kingdom) 51,777 363,667 
Standard Life PLC 33,198 114,783 
Tate & Lyle PLC 9,406 80,937 
Taylor Wimpey PLC 55,011 113,559 
Tesco PLC 148,369 404,072 
The Weir Group PLC 4,205 85,245 
Travis Perkins PLC 4,206 59,514 
Tullett Prebon PLC 8,860 32,842 
Unilever PLC 23,829 1,262,213 
United Utilities Group PLC 12,861 119,445 
Vodafone Group PLC 493,750 928,516 
Whitbread PLC 3,401 191,275 
WM Morrison Supermarkets PLC 43,834 139,007 
TOTAL UNITED KINGDOM  40,257,383 
United States of America - 0.1%   
Altice U.S.A., Inc. Class A 3,569 58,210 
Stratasys Ltd. (a) 721 13,742 
Yum China Holdings, Inc. 6,809 245,669 
TOTAL UNITED STATES OF AMERICA  317,621 
TOTAL COMMON STOCKS   
(Cost $406,251,764)  378,450,121 
Nonconvertible Preferred Stocks - 1.3%   
Brazil - 0.7%   
Azul SA (a) 4,100 33,701 
Banco Bradesco SA (PN) 54,600 503,233 
Bradespar SA (PN) 4,100 38,075 
Braskem SA (PN-A) 2,900 40,638 
Centrais Eletricas Brasileiras SA (Electrobras) (PN-B) 2,400 17,154 
Companhia Brasileira de Distribuicao Grupo Pao de Acucar (PN) 3,300 69,361 
Companhia Energetica de Minas Gerais (CEMIG) (PN) 15,000 44,458 
Gerdau SA 17,500 76,461 
Itau Unibanco Holding SA 60,500 800,652 
Itausa-Investimentos Itau SA (PN) 83,200 251,288 
Lojas Americanas SA (PN) 11,300 57,085 
Petroleo Brasileiro SA - Petrobras (PN) (non-vtg.) 82,200 610,067 
Telefonica Brasil SA 8,000 92,909 
TOTAL BRAZIL  2,635,082 
Chile - 0.0%   
Embotelladora Andina SA Class B 2,439 8,586 
Sociedad Quimica y Minera de Chile SA (PN-B) 1,816 78,536 
TOTAL CHILE  87,122 
Colombia - 0.0%   
Bancolombia SA (PN) 9,582 89,585 
Grupo Aval Acciones y Valores SA 84,775 29,755 
TOTAL COLOMBIA  119,340 
Germany - 0.3%   
Bayerische Motoren Werke AG (BMW) (non-vtg.) 980 74,037 
Henkel AG & Co. KGaA 3,649 399,169 
Porsche Automobil Holding SE (Germany) 2,881 183,217 
Sartorius AG (non-vtg.) 643 93,222 
Volkswagen AG 3,381 569,675 
TOTAL GERMANY  1,319,320 
Italy - 0.0%   
Telecom Italia SpA (Risparmio Shares) 73,650 37,272 
Korea (South) - 0.2%   
Hyundai Motor Co. 207 12,083 
Hyundai Motor Co. Series 2 1,615 100,212 
LG Chemical Ltd. 307 53,678 
LG Household & Health Care Ltd. 69 44,266 
Samsung Electronics Co. Ltd. 16,776 525,628 
TOTAL KOREA (SOUTH)  735,867 
Russia - 0.1%   
AK Transneft OAO 30 77,831 
Sberbank of Russia 40,400 100,151 
Surgutneftegas OJSC 159,700 92,452 
TOTAL RUSSIA  270,434 
United Kingdom - 0.0%   
Rolls-Royce Holdings PLC Series C (a) 1,336,944 1,709 
TOTAL NONCONVERTIBLE PREFERRED STOCKS   
(Cost $4,917,995)  5,206,146 
Money Market Funds - 15.2%   
Fidelity Cash Central Fund, 2.23% (d) 59,577,431 59,589,346 
Fidelity Securities Lending Cash Central Fund 2.23% (d)(e) 325,797 325,830 
TOTAL MONEY MARKET FUNDS   
(Cost $59,915,176)  59,915,176 
TOTAL INVESTMENT IN SECURITIES - 112.6%   
(Cost $471,084,935)  443,571,443 
NET OTHER ASSETS (LIABILITIES) - (12.6)%  (49,599,315) 
NET ASSETS - 100%  $393,972,128 

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) 78 Dec. 2018 $7,068,750 $96,613 $96,613 
ICE E-mini MSCI Emerging Markets Index Contracts (United States) 54 Dec. 2018 2,583,090 38,706 38,706 
TME S&P/TSX 60 Index Contracts (Canada) 5 Dec. 2018 679,251 8,284 8,284 
TOTAL FUTURES CONTRACTS     $143,603 

The notional amount of futures purchased as a percentage of Net Assets is 2.6%

For the period, the average monthly underlying face amount at value for futures contracts in the aggregate was $22,811,848.

Categorizations in the Schedule of Investments are based on country or territory of incorporation.

Legend

 (a) Non-income producing

 (b) 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 $1,542,392 or 0.4% of net assets.

 (c) Security or a portion of the security is on loan at period end.

 (d) 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, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.

 (e) Investment made with cash collateral received from securities on loan.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund Income earned 
Fidelity Cash Central Fund $172,585 
Fidelity Securities Lending Cash Central Fund 244 
Total $172,829 

Amounts in the 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.

Investment Valuation

The following is a summary of the inputs used, as of October 31, 2018, 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 $27,519,847 $11,822,469 $15,697,378 $-- 
Consumer Discretionary 39,827,109 25,619,318 14,207,791 -- 
Consumer Staples 36,820,107 17,897,114 18,922,993 -- 
Energy 27,114,128 13,888,973 13,225,155 -- 
Financials 84,426,919 54,086,241 30,340,678 -- 
Health Care 33,346,620 10,790,049 22,556,571 -- 
Industrials 48,843,385 28,215,642 20,627,743 -- 
Information Technology 31,163,147 18,268,835 12,894,312 -- 
Materials 29,926,909 20,235,112 9,691,797 -- 
Real Estate 13,219,911 11,203,748 2,016,163 -- 
Utilities 11,448,185 8,663,296 2,784,889 -- 
Money Market Funds 59,915,176 59,915,176 -- -- 
Total Investments in Securities: $443,571,443 $280,605,973 $162,965,470 $-- 
Derivative Instruments:     
Assets     
Futures Contracts $143,603 $143,603 $-- $-- 
Total Assets $143,603 $143,603 $-- $-- 
Total Derivative Instruments: $143,603 $143,603 $-- $-- 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of October 31, 2018. 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) $143,603 $0 
Total Equity Risk 143,603 0 
Total Value of Derivatives $143,603 $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 net unrealized appreciation (depreciation).

See accompanying notes which are an integral part of the financial statements.


Fidelity ZERO℠ International Index Fund

Financial Statements

Statement of Assets and Liabilities

  October 31, 2018 
Assets   
Investment in securities, at value (including securities loaned of $323,605) — See accompanying schedule:
Unaffiliated issuers (cost $411,169,759) 		$383,656,267  
Fidelity Central Funds (cost $59,915,176) 59,915,176  
Total Investment in Securities (cost $471,084,935)  $443,571,443 
Segregated cash with brokers for derivative instruments  3,643,992 
Cash  98 
Foreign currency held at value (cost $7,308,544)  7,285,836 
Receivable for fund shares sold  5,113,572 
Dividends receivable  687,398 
Distributions receivable from Fidelity Central Funds  67,067 
Total assets  460,369,406 
Liabilities   
Payable for investments purchased $64,491,540  
Payable for fund shares redeemed 1,332,381  
Payable for daily variation margin on futures contracts 247,273  
Other payables and accrued expenses 254  
Collateral on securities loaned 325,830  
Total liabilities  66,397,278 
Net Assets  $393,972,128 
Net Assets consist of:   
Paid in capital  $422,247,818 
Total distributable earnings (loss)  (28,275,690) 
Net Assets, for 43,165,549 shares outstanding  $393,972,128 
Net Asset Value, offering price and redemption price per share ($393,972,128 ÷ 43,165,549 shares)  $9.13 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  For the period
August 2, 2018 (commencement of operations) to
October 31, 2018 
Investment Income   
Dividends  $1,546,652 
Income from Fidelity Central Funds  172,829 
Income before foreign taxes withheld  1,719,481 
Less foreign taxes withheld  (137,601) 
Total income  1,581,880 
Expenses   
Independent trustees' fees and expenses $142  
Total expenses  142 
Net investment income (loss)  1,581,738 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (net of foreign taxes of $385) 90,898  
Fidelity Central Funds 847  
Foreign currency transactions 102,633  
Futures contracts (2,585,592)  
Total net realized gain (loss)  (2,391,214) 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (27,513,492)  
Assets and liabilities in foreign currencies (10,664)  
Futures contracts 143,603  
Total change in net unrealized appreciation (depreciation)  (27,380,553) 
Net gain (loss)  (29,771,767) 
Net increase (decrease) in net assets resulting from operations  $(28,190,029) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 For the period
August 2, 2018 (commencement of operations) to
October 31, 2018 
Increase (Decrease) in Net Assets  
Operations  
Net investment income (loss) $1,581,738 
Net realized gain (loss) (2,391,214) 
Change in net unrealized appreciation (depreciation) (27,380,553) 
Net increase (decrease) in net assets resulting from operations (28,190,029) 
Share transactions  
Proceeds from sales of shares 462,386,169 
Cost of shares redeemed (40,224,012) 
Net increase (decrease) in net assets resulting from share transactions 422,162,157 
Total increase (decrease) in net assets 393,972,128 
Net Assets  
Beginning of period – 
End of period $393,972,128 
Other Information  
Shares  
Sold 47,322,476 
Redeemed (4,156,927) 
Net increase (decrease) 43,165,549 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity ZERO International Index Fund

  
Year ended October 31, 2018 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .06 
Net realized and unrealized gain (loss) (.93) 
Total from investment operations (.87) 
Net asset value, end of period $9.13 
Total ReturnC (8.70)% 
Ratios to Average Net AssetsD,E  
Expenses before reductionsF - %G 
Expenses net of fee waivers, if anyF - %G 
Expenses net of all reductionsF - %G 
Net investment income (loss) 2.42%G 
Supplemental Data  
Net assets, end of period (000 omitted) $393,972 
Portfolio turnover rateH 0%I,J 

 A For the period August 2, 2018 (commencement of operations) to October 31, 2018.

 B Calculated based on average shares outstanding during the period.

 C Total returns for periods of less than one year are not annualized.

 D Fees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

 E Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.

 F Amount represents less than .005%.

 G Annualized

 H Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

 I Amount not annualized.

 J Amount represents less than 1%.

See accompanying notes which are an integral part of the financial statements.


Fidelity ZERO℠ Large Cap Index Fund

Investment Summary (Unaudited)

Top Ten Stocks as of October 31, 2018

 % of fund's net assets 
Apple, Inc. 4.8 
Microsoft Corp. 3.5 
Amazon.com, Inc. 2.7 
Berkshire Hathaway, Inc. Class B 1.7 
JPMorgan Chase & Co. 1.6 
Johnson & Johnson 1.6 
Facebook, Inc. Class A 1.5 
Exxon Mobil Corp. 1.4 
Alphabet, Inc. Class C 1.4 
Alphabet, Inc. Class A 1.4 
 21.6 

Top Market Sectors as of October 31, 2018

 % of fund's net assets 
Information Technology 21.7 
Health Care 15.0 
Financials 14.1 
Communication Services 10.0 
Consumer Discretionary 9.6 
Industrials 9.2 
Consumer Staples 7.3 
Energy 5.5 
Utilities 2.7 
Real Estate 2.4 

Asset Allocation (% of fund's net assets)

As of October 31, 2018* 
   Stocks and Equity Futures 100.0% 


 * Foreign investments - 3.2%

Fidelity ZERO℠ Large Cap Index Fund

Schedule of Investments October 31, 2018

Showing Percentage of Net Assets

Common Stocks - 99.6%   
 Shares Value 
COMMUNICATION SERVICES - 10.0%   
Diversified Telecommunication Services - 1.9%   
AT&T, Inc. 27,527 $844,528 
CenturyLink, Inc. 4,363 90,052 
Verizon Communications, Inc. 18,287 1,044,005 
  1,978,585 
Entertainment - 2.1%   
Activision Blizzard, Inc. 3,392 234,218 
Electronic Arts, Inc. (a) 1,382 125,734 
Liberty Media Corp.:   
Liberty Braves Class A (a) 29 748 
Liberty Braves Class C (a) 131 3,393 
Liberty Formula One Group Series C (a) 925 30,599 
Liberty Media Class A (a) 97 3,074 
Liberty SiriusXM Series A (a) 370 15,259 
Liberty SiriusXM Series C (a) 773 31,902 
Netflix, Inc. (a) 1,941 585,755 
Take-Two Interactive Software, Inc. (a) 512 65,981 
The Walt Disney Co. 6,771 777,514 
Twenty-First Century Fox, Inc.:   
Class A 4,690 213,489 
Class B 2,004 90,541 
Viacom, Inc.:   
Class A 35 1,238 
Class B (non-vtg.) 1,564 50,017 
  2,229,462 
Interactive Media & Services - 4.5%   
Alphabet, Inc.:   
Class A (a) 1,333 1,453,743 
Class C (a) 1,357 1,461,177 
Facebook, Inc. Class A (a) 10,691 1,622,787 
IAC/InterActiveCorp (a) 342 67,234 
Twitter, Inc. (a) 2,898 100,706 
  4,705,647 
Media - 1.4%   
CBS Corp. Class B 1,629 93,423 
Charter Communications, Inc. Class A (a) 870 278,722 
Comcast Corp. Class A 20,914 797,660 
DISH Network Corp. Class A (a) 1,028 31,601 
Interpublic Group of Companies, Inc. 1,730 40,067 
Liberty Broadband Corp.:   
Class A (a) 113 9,355 
Class C (a) 695 57,636 
Liberty Global PLC:   
Class A (a) 987 25,297 
Class C (a) 2,679 67,082 
Omnicom Group, Inc. 1,036 76,996 
  1,477,839 
Wireless Telecommunication Services - 0.1%   
T-Mobile U.S., Inc. (a) 1,308 89,663 
TOTAL COMMUNICATION SERVICES  10,481,196 
CONSUMER DISCRETIONARY - 9.6%   
Auto Components - 0.2%   
Aptiv PLC 1,199 92,083 
Autoliv, Inc. 547 45,587 
BorgWarner, Inc. 888 34,996 
Lear Corp. 300 39,870 
  212,536 
Automobiles - 0.5%   
Ford Motor Co. 17,534 167,450 
General Motors Co. 5,742 210,100 
Tesla, Inc. (a) 595 200,705 
  578,255 
Distributors - 0.1%   
Genuine Parts Co. 661 64,725 
LKQ Corp. (a) 1,382 37,687 
  102,412 
Hotels, Restaurants & Leisure - 1.9%   
ARAMARK Holdings Corp. 1,090 39,153 
Carnival Corp. 1,832 102,665 
Darden Restaurants, Inc. 555 59,135 
Domino's Pizza, Inc. 197 52,952 
Hilton Worldwide Holdings, Inc. 910 64,765 
Las Vegas Sands Corp. 1,632 83,281 
Marriott International, Inc. Class A 1,375 160,724 
McDonald's Corp. 3,574 632,241 
MGM Mirage, Inc. 2,294 61,204 
Norwegian Cruise Line Holdings Ltd. (a) 792 34,903 
Royal Caribbean Cruises Ltd. 770 80,642 
Starbucks Corp. 6,379 371,704 
Wyndham Destinations, Inc. 1,022 36,669 
Wynn Resorts Ltd. 354 35,612 
Yum! Brands, Inc. 1,512 136,700 
  1,952,350 
Household Durables - 0.2%   
D.R. Horton, Inc. 1,549 55,702 
Lennar Corp.:   
Class A 1,202 51,662 
Class B 59 2,110 
Mohawk Industries, Inc. (a) 278 34,675 
Newell Brands, Inc. 2,156 34,237 
NVR, Inc. (a) 15 33,585 
Whirlpool Corp. 317 34,794 
  246,765 
Internet & Direct Marketing Retail - 3.3%   
Amazon.com, Inc. (a) 1,793 2,865,232 
eBay, Inc. (a) 4,362 126,629 
Expedia, Inc. 552 69,237 
Liberty Interactive Corp. QVC Group Series A (a) 2,101 46,096 
The Booking Holdings, Inc. (a) 218 408,658 
  3,515,852 
Leisure Products - 0.0%   
Hasbro, Inc. 503 46,130 
Multiline Retail - 0.5%   
Dollar General Corp. 1,169 130,203 
Dollar Tree, Inc. (a) 1,065 89,780 
Kohl's Corp. 758 57,403 
Target Corp. 2,437 203,806 
  481,192 
Specialty Retail - 2.2%   
AutoZone, Inc. (a) 124 90,950 
Best Buy Co., Inc. 1,143 80,193 
CarMax, Inc. (a) 823 55,890 
Home Depot, Inc. 5,235 920,732 
L Brands, Inc. 1,091 35,370 
Lowe's Companies, Inc. 3,734 355,551 
O'Reilly Automotive, Inc. (a) 381 122,206 
Ross Stores, Inc. 1,730 171,270 
Tiffany & Co., Inc. 451 50,196 
TJX Companies, Inc. 2,852 313,378 
Ulta Beauty, Inc. (a) 262 71,924 
  2,267,660 
Textiles, Apparel & Luxury Goods - 0.7%   
Garrett Motion, Inc. (a) 289 4,384 
Michael Kors Holdings Ltd. (a) 673 37,291 
NIKE, Inc. Class B 5,894 442,286 
PVH Corp. 344 41,552 
Tapestry, Inc. 1,282 54,241 
VF Corp. 1,475 122,248 
  702,002 
TOTAL CONSUMER DISCRETIONARY  10,105,154 
CONSUMER STAPLES - 7.3%   
Beverages - 1.8%   
Brown-Forman Corp. Class B (non-vtg.) 1,085 50,279 
Constellation Brands, Inc. Class A (sub. vtg.) 774 154,204 
Keurig Dr. Pepper, Inc. 810 21,060 
Molson Coors Brewing Co. Class B 834 53,376 
Monster Beverage Corp. (a) 1,850 97,773 
PepsiCo, Inc. 6,376 716,535 
The Coca-Cola Co. 17,188 822,961 
  1,916,188 
Food & Staples Retailing - 1.6%   
Costco Wholesale Corp. 1,958 447,658 
Kroger Co. 3,990 118,742 
Sysco Corp. 2,149 153,288 
Walgreens Boots Alliance, Inc. 3,893 310,545 
Walmart, Inc. 6,561 657,937 
  1,688,170 
Food Products - 1.1%   
Archer Daniels Midland Co. 2,506 118,409 
Bunge Ltd. 622 38,440 
Conagra Brands, Inc. 1,837 65,397 
General Mills, Inc. 2,553 111,821 
Ingredion, Inc. 319 32,276 
Kellogg Co. 1,117 73,141 
McCormick & Co., Inc. (non-vtg.) 537 77,328 
Mondelez International, Inc. 6,700 281,266 
The Hershey Co. 634 67,933 
The J.M. Smucker Co. 512 55,460 
The Kraft Heinz Co. 2,681 147,375 
Tyson Foods, Inc. Class A 1,337 80,113 
  1,148,959 
Household Products - 1.5%   
Church & Dwight Co., Inc. 1,122 66,613 
Clorox Co. 579 85,953 
Colgate-Palmolive Co. 3,937 234,448 
Kimberly-Clark Corp. 1,578 164,585 
Procter & Gamble Co. 11,422 1,012,903 
  1,564,502 
Personal Products - 0.2%   
Coty, Inc. Class A 2,136 22,535 
Estee Lauder Companies, Inc. Class A 1,004 137,990 
  160,525 
Tobacco - 1.1%   
Altria Group, Inc. 8,552 556,222 
Philip Morris International, Inc. 6,962 613,143 
  1,169,365 
TOTAL CONSUMER STAPLES  7,647,709 
ENERGY - 5.5%   
Energy Equipment & Services - 0.6%   
Baker Hughes, a GE Co. Class A 1,891 50,471 
Halliburton Co. 3,927 136,188 
National Oilwell Varco, Inc. 1,710 62,928 
Schlumberger Ltd. 6,220 319,148 
TechnipFMC PLC 1,941 51,048 
  619,783 
Oil, Gas & Consumable Fuels - 4.9%   
Anadarko Petroleum Corp. 2,456 130,659 
Apache Corp. 1,713 64,803 
Cabot Oil & Gas Corp. 2,045 49,550 
Cheniere Energy, Inc. (a) 894 54,007 
Chevron Corp. 8,516 950,811 
Cimarex Energy Co. 424 33,695 
Concho Resources, Inc. (a) 668 92,912 
ConocoPhillips Co. 5,361 374,734 
Devon Energy Corp. 2,366 76,658 
Diamondback Energy, Inc. 443 49,775 
EOG Resources, Inc. 2,594 273,252 
EQT Corp. 1,083 36,790 
Exxon Mobil Corp. 18,996 1,513,601 
Hess Corp. 1,197 68,708 
Kinder Morgan, Inc. 8,619 146,695 
Marathon Oil Corp. 3,819 72,523 
Marathon Petroleum Corp. 2,191 154,356 
Noble Energy, Inc. 2,189 54,397 
Occidental Petroleum Corp. 3,432 230,184 
ONEOK, Inc. 1,842 120,835 
Phillips 66 Co. 1,928 198,237 
Pioneer Natural Resources Co. 764 112,514 
Targa Resources Corp. 972 50,223 
The Williams Companies, Inc. 3,714 90,362 
Valero Energy Corp. 1,962 178,719 
  5,179,000 
TOTAL ENERGY  5,798,783 
FINANCIALS - 14.1%   
Banks - 6.1%   
Bank of America Corp. 43,482 1,195,755 
BB&T Corp. 3,539 173,977 
Citigroup, Inc. 11,852 775,832 
Citizens Financial Group, Inc. 2,186 81,647 
Comerica, Inc. 784 63,943 
East West Bancorp, Inc. 662 34,715 
Fifth Third Bancorp 3,176 85,720 
First Republic Bank 710 64,603 
Huntington Bancshares, Inc. 4,877 69,887 
JPMorgan Chase & Co. 15,552 1,695,479 
KeyCorp 4,784 86,877 
M&T Bank Corp. 676 111,817 
PNC Financial Services Group, Inc. 2,134 274,198 
Regions Financial Corp. 5,174 87,803 
SunTrust Banks, Inc. 2,137 133,904 
SVB Financial Group (a) 237 56,224 
U.S. Bancorp 7,065 369,288 
Wells Fargo & Co. 19,868 1,057,574 
Zions Bancorporation 904 42,533 
  6,461,776 
Capital Markets - 2.8%   
Affiliated Managers Group, Inc. 253 28,756 
Ameriprise Financial, Inc. 665 84,615 
Bank of New York Mellon Corp. 4,592 217,339 
BlackRock, Inc. Class A 553 227,515 
Cboe Global Markets, Inc. 510 57,554 
Charles Schwab Corp. 5,350 247,384 
CME Group, Inc. 1,525 279,441 
E*TRADE Financial Corp. 1,217 60,144 
Franklin Resources, Inc. 1,452 44,286 
Goldman Sachs Group, Inc. 1,574 354,732 
IntercontinentalExchange, Inc. 2,622 201,999 
Invesco Ltd. 1,809 39,273 
Moody's Corp. 746 108,528 
Morgan Stanley 6,245 285,147 
MSCI, Inc. 404 60,754 
Northern Trust Corp. 964 90,683 
Raymond James Financial, Inc. 579 44,404 
S&P Global, Inc. 1,143 208,392 
SEI Investments Co. 586 31,322 
State Street Corp. 1,665 114,469 
T. Rowe Price Group, Inc. 1,087 105,428 
TD Ameritrade Holding Corp. 1,222 63,202 
  2,955,367 
Consumer Finance - 0.8%   
Ally Financial, Inc. 2,011 51,100 
American Express Co. 3,228 331,612 
Capital One Financial Corp. 2,173 194,049 
Discover Financial Services 1,630 113,562 
Synchrony Financial 3,305 95,448 
  785,771 
Diversified Financial Services - 1.9%   
Berkshire Hathaway, Inc. Class B (a) 8,623 1,770,129 
Linde PLC 1,253 207,334 
  1,977,463 
Insurance - 2.4%   
AFLAC, Inc. 3,523 151,736 
Allstate Corp. 1,610 154,109 
American International Group, Inc. 4,032 166,481 
Aon PLC 1,120 174,922 
Arch Capital Group Ltd. (a) 1,775 50,357 
Arthur J. Gallagher & Co. 801 59,282 
Chubb Ltd. 2,082 260,063 
Cincinnati Financial Corp. 674 53,003 
Everest Re Group Ltd. 181 39,433 
FNF Group 1,207 40,374 
Hartford Financial Services Group, Inc. 1,604 72,854 
Lincoln National Corp. 988 59,468 
Loews Corp. 1,246 58,014 
Markel Corp. (a) 63 68,874 
Marsh & McLennan Companies, Inc. 2,288 193,908 
MetLife, Inc. 4,721 194,458 
Principal Financial Group, Inc. 1,208 56,861 
Progressive Corp. 2,607 181,708 
Prudential Financial, Inc. 1,903 178,463 
Reinsurance Group of America, Inc. 286 40,718 
The Travelers Companies, Inc. 1,229 153,785 
Torchmark Corp. 480 40,637 
Unum Group 996 36,115 
Willis Group Holdings PLC 593 84,894 
  2,570,517 
Mortgage Real Estate Investment Trusts - 0.1%   
Annaly Capital Management, Inc. 5,145 50,781 
TOTAL FINANCIALS  14,801,675 
HEALTH CARE - 15.0%   
Biotechnology - 2.6%   
AbbVie, Inc. 7,149 556,550 
Alexion Pharmaceuticals, Inc. (a) 1,003 112,406 
Alkermes PLC (a) 679 27,724 
Alnylam Pharmaceuticals, Inc. (a) 361 29,035 
Amgen, Inc. 3,256 627,724 
Biogen, Inc. (a) 949 288,752 
BioMarin Pharmaceutical, Inc. (a) 789 72,722 
bluebird bio, Inc. (a) 217 24,890 
Celgene Corp. (a) 3,533 252,963 
Gilead Sciences, Inc. 5,859 399,467 
Incyte Corp. (a) 773 50,106 
Regeneron Pharmaceuticals, Inc. (a) 345 117,038 
Vertex Pharmaceuticals, Inc. (a) 1,134 192,168 
  2,751,545 
Health Care Equipment & Supplies - 3.1%   
Abbott Laboratories 7,802 537,870 
Abiomed, Inc. (a) 189 64,487 
Align Technology, Inc. (a) 324 71,669 
Baxter International, Inc. 2,250 140,648 
Becton, Dickinson & Co. 1,189 274,065 
Boston Scientific Corp. (a) 6,159 222,586 
Danaher Corp. 2,745 272,853 
Dentsply Sirona, Inc. 1,017 35,219 
Edwards Lifesciences Corp. (a) 949 140,072 
Hologic, Inc. (a) 1,245 48,543 
IDEXX Laboratories, Inc. (a) 391 82,939 
Intuitive Surgical, Inc. (a) 502 261,632 
Medtronic PLC 6,068 545,028 
ResMed, Inc. 637 67,471 
Stryker Corp. 1,444 234,246 
Teleflex, Inc. 199 47,907 
The Cooper Companies, Inc. 221 57,087 
Varian Medical Systems, Inc. (a) 406 48,464 
Zimmer Biomet Holdings, Inc. 909 103,253 
  3,256,039 
Health Care Providers & Services - 3.4%   
Aetna, Inc. 1,462 290,061 
AmerisourceBergen Corp. 724 63,712 
Anthem, Inc. 1,151 317,181 
Cardinal Health, Inc. 1,414 71,548 
Centene Corp. (a) 774 100,868 
Cigna Corp. 1,106 236,474 
CVS Health Corp. 4,544 328,940 
DaVita HealthCare Partners, Inc. (a) 670 45,118 
Express Scripts Holding Co. (a) 2,539 246,207 
HCA Holdings, Inc. 1,270 169,583 
Henry Schein, Inc. (a) 706 58,598 
Humana, Inc. 640 205,062 
Laboratory Corp. of America Holdings (a) 458 73,532 
McKesson Corp. 936 116,775 
Quest Diagnostics, Inc. 613 57,689 
UnitedHealth Group, Inc. 4,344 1,135,304 
Universal Health Services, Inc. Class B 388 47,165 
  3,563,817 
Health Care Technology - 0.1%   
Cerner Corp. (a) 1,419 81,280 
Life Sciences Tools & Services - 0.9%   
Agilent Technologies, Inc. 1,445 93,622 
Illumina, Inc. (a) 655 203,803 
Mettler-Toledo International, Inc. (a) 115 62,884 
Quintiles Transnational Holdings, Inc. (a) 654 80,396 
Thermo Fisher Scientific, Inc. 1,797 419,869 
Waters Corp. (a) 358 67,909 
  928,483 
Pharmaceuticals - 4.9%   
Allergan PLC 1,492 235,751 
Bristol-Myers Squibb Co. 7,339 370,913 
Eli Lilly & Co. 4,343 470,955 
Johnson & Johnson 12,044 1,686,040 
Merck & Co., Inc. 12,261 902,532 
Mylan NV (a) 2,410 75,313 
Nektar Therapeutics (a) 694 26,844 
Perrigo Co. PLC 579 40,704 
Pfizer, Inc. 26,718 1,150,477 
Zoetis, Inc. Class A 2,186 197,068 
  5,156,597 
TOTAL HEALTH CARE  15,737,761 
INDUSTRIALS - 9.2%   
Aerospace & Defense - 2.6%   
Arconic, Inc. 1,874 38,098 
General Dynamics Corp. 1,245 214,862 
Harris Corp. 536 79,709 
Huntington Ingalls Industries, Inc. 205 44,788 
L3 Technologies, Inc. 351 66,504 
Lockheed Martin Corp. 1,118 328,524 
Northrop Grumman Corp. 781 204,583 
Raytheon Co. 1,296 226,852 
Rockwell Collins, Inc. 731 93,583 
Spirit AeroSystems Holdings, Inc. Class A 512 43,013 
Textron, Inc. 1,183 63,444 
The Boeing Co. 2,510 890,699 
TransDigm Group, Inc. (a) 217 71,664 
United Technologies Corp. 3,328 413,371 
  2,779,694 
Air Freight & Logistics - 0.6%   
C.H. Robinson Worldwide, Inc. 625 55,644 
Expeditors International of Washington, Inc. 799 53,677 
FedEx Corp. 1,107 243,916 
United Parcel Service, Inc. Class B 3,079 328,037 
  681,274 
Airlines - 0.4%   
American Airlines Group, Inc. 1,915 67,178 
Delta Air Lines, Inc. 2,942 161,016 
Southwest Airlines Co. 2,447 120,148 
United Continental Holdings, Inc. (a) 1,129 96,541 
  444,883 
Building Products - 0.3%   
A.O. Smith Corp. 667 30,369 
Fortune Brands Home & Security, Inc. 704 31,560 
Johnson Controls International PLC 4,153 132,771 
Masco Corp. 1,429 42,870 
Owens Corning 505 23,871 
Resideo Technologies, Inc. (a) 541 11,388 
  272,829 
Commercial Services & Supplies - 0.3%   
Cintas Corp. 387 70,384 
Copart, Inc. (a) 893 43,677 
Republic Services, Inc. 1,009 73,334 
Waste Management, Inc. 1,795 160,599 
  347,994 
Electrical Equipment - 0.6%   
AMETEK, Inc. 1,024 68,690 
Eaton Corp. PLC 1,976 141,620 
Emerson Electric Co. 2,875 195,155 
Fortive Corp. 1,372 101,871 
Rockwell Automation, Inc. 577 95,049 
  602,385 
Industrial Conglomerates - 1.5%   
3M Co. 2,675 508,946 
General Electric Co. 38,884 392,728 
Honeywell International, Inc. 3,413 494,271 
Roper Technologies, Inc. 459 129,851 
  1,525,796 
Machinery - 1.3%   
Caterpillar, Inc. 2,667 323,560 
Cummins, Inc. 701 95,820 
Deere & Co. 1,435 194,356 
Dover Corp. 887 73,479 
IDEX Corp. 340 43,119 
Illinois Tool Works, Inc. 1,383 176,429 
Ingersoll-Rand PLC 1,120 107,453 
PACCAR, Inc. 1,579 90,335 
Parker Hannifin Corp. 598 90,675 
Pentair PLC 1,105 44,366 
Stanley Black & Decker, Inc. 690 80,399 
Xylem, Inc. 795 52,136 
  1,372,127 
Professional Services - 0.3%   
CoStar Group, Inc. (a) 163 58,911 
Equifax, Inc. 541 54,879 
IHS Markit Ltd. (a) 1,619 85,046 
Nielsen Holdings PLC 1,481 38,476 
Verisk Analytics, Inc. (a) 691 82,809 
  320,121 
Road & Rail - 1.1%   
CSX Corp. 4,006 275,853 
J.B. Hunt Transport Services, Inc. 382 42,253 
Kansas City Southern 468 47,717 
Norfolk Southern Corp. 1,283 215,326 
Old Dominion Freight Lines, Inc. 305 39,778 
Union Pacific Corp. 3,527 515,718 
  1,136,645 
Trading Companies & Distributors - 0.2%   
Fastenal Co. 1,292 66,422 
United Rentals, Inc. (a) 378 45,386 
W.W. Grainger, Inc. 233 66,165 
  177,973 
TOTAL INDUSTRIALS  9,661,721 
INFORMATION TECHNOLOGY - 21.7%   
Communications Equipment - 1.2%   
Arista Networks, Inc. (a) 207 47,682 
Cisco Systems, Inc. 22,162 1,013,912 
Juniper Networks, Inc. 1,694 49,583 
Motorola Solutions, Inc. 728 89,224 
Palo Alto Networks, Inc. (a) 413 75,596 
  1,275,997 
Electronic Equipment & Components - 0.5%   
Amphenol Corp. Class A 1,372 122,794 
CDW Corp. 689 62,017 
Cognex Corp. 770 32,987 
Corning, Inc. 3,903 124,701 
Dell Technologies, Inc. (a) 912 82,436 
TE Connectivity Ltd. 1,581 119,239 
Trimble, Inc. (a) 1,120 41,866 
  586,040 
IT Services - 4.9%   
Accenture PLC Class A 2,769 436,450 
Akamai Technologies, Inc. (a) 751 54,260 
Alliance Data Systems Corp. 213 43,916 
Amdocs Ltd. 648 40,999 
Automatic Data Processing, Inc. 1,988 286,431 
Broadridge Financial Solutions, Inc. 524 61,277 
Cognizant Technology Solutions Corp. Class A 2,646 182,653 
DXC Technology Co. 1,470 107,060 
Fidelity National Information Services, Inc. 1,498 155,942 
Fiserv, Inc. (a) 1,870 148,291 
FleetCor Technologies, Inc. (a) 403 80,612 
Gartner, Inc. (a) 408 60,188 
Global Payments, Inc. 716 81,789 
IBM Corp. 3,860 445,560 
Jack Henry & Associates, Inc. 349 52,291 
Leidos Holdings, Inc. 631 40,876 
MasterCard, Inc. Class A 4,163 822,900 
Paychex, Inc. 1,435 93,978 
PayPal Holdings, Inc. (a) 5,066 426,507 
Square, Inc. (a) 1,206 88,581 
The Western Union Co. 2,049 36,964 
Total System Services, Inc. 753 68,636 
VeriSign, Inc. (a) 381 54,308 
Visa, Inc. Class A 8,127 1,120,307 
Worldpay, Inc. (a) 1,332 122,331 
  5,113,107 
Semiconductors & Semiconductor Equipment - 3.7%   
Advanced Micro Devices, Inc. (a) 3,678 66,976 
Analog Devices, Inc. 1,657 138,707 
Applied Materials, Inc. 4,788 157,429 
Broadcom, Inc. 1,823 407,422 
Intel Corp. 20,982 983,636 
KLA-Tencor Corp. 705 64,536 
Lam Research Corp. 728 103,179 
Marvell Technology Group Ltd. 1,907 31,294 
Maxim Integrated Products, Inc. 1,265 63,275 
Microchip Technology, Inc. 1,052 69,201 
Micron Technology, Inc. (a) 5,173 195,126 
NVIDIA Corp. 2,717 572,825 
ON Semiconductor Corp. (a) 1,925 32,725 
Qorvo, Inc. (a) 565 41,533 
Qualcomm, Inc. 6,610 415,703 
Skyworks Solutions, Inc. 815 70,709 
Texas Instruments, Inc. 4,419 410,216 
Xilinx, Inc. 1,127 96,212 
  3,920,704 
Software - 6.1%   
Adobe, Inc. (a) 2,210 543,130 
ANSYS, Inc. (a) 382 57,128 
Autodesk, Inc. (a) 986 127,441 
CA Technologies, Inc. 1,408 62,459 
Cadence Design Systems, Inc. (a) 1,253 55,846 
Citrix Systems, Inc. 634 64,966 
Intuit, Inc. 1,088 229,568 
Microsoft Corp. 34,583 3,693,810 
Oracle Corp. 13,660 667,154 
Red Hat, Inc. (a) 794 136,282 
Salesforce.com, Inc. (a) 3,076 422,150 
ServiceNow, Inc. (a) 776 140,487 
Splunk, Inc. (a) 629 62,799 
Symantec Corp. 2,740 49,731 
Synopsys, Inc. (a) 677 60,612 
Workday, Inc. Class A (a) 603 80,211 
  6,453,774 
Technology Hardware, Storage & Peripherals - 5.3%   
Apple, Inc. 23,017 5,037,499 
Hewlett Packard Enterprise Co. 7,156 109,129 
HP, Inc. 7,487 180,736 
NetApp, Inc. 1,209 94,894 
Seagate Technology LLC 1,298 52,219 
Western Digital Corp. 1,328 57,197 
  5,531,674 
TOTAL INFORMATION TECHNOLOGY  22,881,296 
MATERIALS - 2.1%   
Chemicals - 1.5%   
Air Products & Chemicals, Inc. 979 151,109 
Albemarle Corp. U.S. 488 48,419 
Celanese Corp. Class A 611 59,230 
CF Industries Holdings, Inc. 1,029 49,423 
DowDuPont, Inc. 10,495 565,890 
Eastman Chemical Co. 650 50,928 
Ecolab, Inc. 1,166 178,573 
FMC Corp. 607 47,395 
International Flavors & Fragrances, Inc. 357 51,644 
LyondellBasell Industries NV Class A 1,452 129,620 
PPG Industries, Inc. 1,144 120,223 
Sherwin-Williams Co. 370 145,584 
  1,598,038 
Construction Materials - 0.1%   
Martin Marietta Materials, Inc. 285 48,815 
Vulcan Materials Co. 586 59,268 
  108,083 
Containers & Packaging - 0.3%   
Avery Dennison Corp. 394 35,744 
Ball Corp. 1,578 70,694 
International Paper Co. 1,861 84,415 
Packaging Corp. of America 418 38,377 
WestRock Co. 1,128 48,470 
  277,700 
Metals & Mining - 0.2%   
Freeport-McMoRan, Inc. 6,047 70,448 
Newmont Mining Corp. 2,396 74,084 
Nucor Corp. 1,430 84,542 
Steel Dynamics, Inc. 1,044 41,342 
  270,416 
TOTAL MATERIALS  2,254,237 
REAL ESTATE - 2.4%   
Equity Real Estate Investment Trusts (REITs) - 2.3%   
Alexandria Real Estate Equities, Inc. 448 54,759 
American Tower Corp. 1,922 299,467 
AvalonBay Communities, Inc. 620 108,736 
Boston Properties, Inc. 695 83,928 
Crown Castle International Corp. 1,821 198,016 
Digital Realty Trust, Inc. 922 95,206 
Equinix, Inc. 350 132,559 
Equity Residential (SBI) 1,651 107,249 
Essex Property Trust, Inc. 297 74,482 
Extra Space Storage, Inc. 570 51,334 
HCP, Inc. 2,122 58,461 
Host Hotels & Resorts, Inc. 3,326 63,560 
Iron Mountain, Inc. 1,248 38,201 
Mid-America Apartment Communities, Inc. 504 49,246 
Prologis, Inc. 2,388 153,954 
Public Storage 671 137,870 
Realty Income Corp. 1,267 76,362 
SBA Communications Corp. Class A (a) 528 85,626 
Simon Property Group, Inc. 1,394 255,827 
Ventas, Inc. 1,601 92,922 
Vornado Realty Trust 764 52,013 
Welltower, Inc. 1,663 109,874 
Weyerhaeuser Co. 3,389 90,249 
  2,469,901 
Real Estate Management & Development - 0.1%   
CBRE Group, Inc. (a) 1,335 53,787 
TOTAL REAL ESTATE  2,523,688 
UTILITIES - 2.7%   
Electric Utilities - 1.7%   
American Electric Power Co., Inc. 2,203 161,612 
Duke Energy Corp. 3,135 259,045 
Edison International 1,461 101,379 
Entergy Corp. 813 68,251 
Eversource Energy 1,421 89,892 
Exelon Corp. 4,299 188,339 
FirstEnergy Corp. 2,004 74,709 
NextEra Energy, Inc. 2,106 363,285 
PG&E Corp. 2,302 107,757 
PPL Corp. 3,069 93,298 
Southern Co. 4,501 202,680 
Xcel Energy, Inc. 2,281 111,792 
  1,822,039 
Multi-Utilities - 0.9%   
Ameren Corp. 1,086 70,134 
CenterPoint Energy, Inc. 1,946 52,561 
CMS Energy Corp. 1,269 62,841 
Consolidated Edison, Inc. 1,391 105,716 
Dominion Resources, Inc. 2,883 205,904 
DTE Energy Co. 804 90,370 
Public Service Enterprise Group, Inc. 2,266 121,072 
Sempra Energy 1,125 123,885 
WEC Energy Group, Inc. 1,414 96,718 
  929,201 
Water Utilities - 0.1%   
American Water Works Co., Inc. 799 70,735 
TOTAL UTILITIES  2,821,975 
TOTAL COMMON STOCKS   
(Cost $109,766,865)  104,715,195 
Money Market Funds - 2.2%   
Fidelity Cash Central Fund, 2.23% (b)   
(Cost $2,368,623) 2,368,150 2,368,623 
TOTAL INVESTMENT IN SECURITIES - 101.8%   
(Cost $112,135,488)  107,083,818 
NET OTHER ASSETS (LIABILITIES) - (1.8)%  (1,909,314) 
NET ASSETS - 100%  $105,174,504 

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) 3 Dec. 2018 $406,665 $10,322 $10,322 

The notional amount of futures purchased as a percentage of Net Assets is 0.4%

Legend

 (a) Non-income producing

 (b) 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, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund Income earned 
Fidelity Cash Central Fund $10,082 
Fidelity Securities Lending Cash Central Fund 6 
Total $10,088 

Amounts in the 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.

Investment Valuation

The following is a summary of the inputs used, as of October 31, 2018, 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 $10,481,196 $10,481,196 $-- $-- 
Consumer Discretionary 10,105,154 10,105,154 -- -- 
Consumer Staples 7,647,709 7,647,709 -- -- 
Energy 5,798,783 5,798,783 -- -- 
Financials 14,801,675 14,801,675 -- -- 
Health Care 15,737,761 15,737,761 -- -- 
Industrials 9,661,721 9,661,721 -- -- 
Information Technology 22,881,296 22,881,296 -- -- 
Materials 2,254,237 2,254,237 -- -- 
Real Estate 2,523,688 2,523,688 -- -- 
Utilities 2,821,975 2,821,975 -- -- 
Money Market Funds 2,368,623 2,368,623 -- -- 
Total Investments in Securities: $107,083,818 $107,083,818 $-- $-- 
Derivative Instruments:     
Assets     
Futures Contracts $10,322 $10,322 $-- $-- 
Total Assets $10,322 $10,322 $-- $-- 
Total Derivative Instruments: $10,322 $10,322 $-- $-- 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of October 31, 2018. 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) $10,322 $0 
Total Equity Risk 10,322 0 
Total Value of Derivatives $10,322 $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 net unrealized appreciation (depreciation).

See accompanying notes which are an integral part of the financial statements.


Fidelity ZERO℠ Large Cap Index Fund

Financial Statements

Statement of Assets and Liabilities

  October 31, 2018 
Assets   
Investment in securities, at value — See accompanying schedule:
Unaffiliated issuers (cost $109,766,865) 		$104,715,195  
Fidelity Central Funds (cost $2,368,623) 2,368,623  
Total Investment in Securities (cost $112,135,488)  $107,083,818 
Segregated cash with brokers for derivative instruments  18,000 
Cash  12,376 
Receivable for investments sold  3,948 
Receivable for fund shares sold  2,833,963 
Dividends receivable  61,969 
Distributions receivable from Fidelity Central Funds  6,213 
Receivable for daily variation margin on futures contracts  3,870 
Total assets  110,024,157 
Liabilities   
Payable for investments purchased $4,569,301  
Payable for fund shares redeemed 280,352  
Total liabilities  4,849,653 
Net Assets  $105,174,504 
Net Assets consist of:   
Paid in capital  $110,135,643 
Total distributable earnings (loss)  (4,961,139) 
Net Assets, for 11,247,750 shares outstanding  $105,174,504 
Net Asset Value, offering price and redemption price per share ($105,174,504 ÷ 11,247,750 shares)  $9.35 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  For the period
September 13, 2018 (commencement of operations) to
October 31, 2018 
Investment Income   
Dividends  $88,389 
Income from Fidelity Central Funds  10,088 
Total income  98,477 
Expenses   
Independent trustees' fees and expenses $7  
Total expenses  7 
Net investment income (loss)  98,470 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers (944)  
Futures contracts (14,417)  
Total net realized gain (loss)  (15,361) 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (5,051,670)  
Futures contracts 10,322  
Total change in net unrealized appreciation (depreciation)  (5,041,348) 
Net gain (loss)  (5,056,709) 
Net increase (decrease) in net assets resulting from operations  $(4,958,239) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 For the period
September 13, 2018 (commencement of operations) to
October 31, 2018 
Increase (Decrease) in Net Assets  
Operations  
Net investment income (loss) $98,470 
Net realized gain (loss) (15,361) 
Change in net unrealized appreciation (depreciation) (5,041,348) 
Net increase (decrease) in net assets resulting from operations (4,958,239) 
Share transactions  
Proceeds from sales of shares 113,838,139 
Cost of shares redeemed (3,705,396) 
Net increase (decrease) in net assets resulting from share transactions 110,132,743 
Total increase (decrease) in net assets 105,174,504 
Net Assets  
Beginning of period – 
End of period $105,174,504 
Other Information  
Shares  
Sold 11,641,079 
Redeemed (393,329) 
Net increase (decrease) 11,247,750 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity ZERO Large Cap Index Fund

  
Year ended October 31, 2018 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .02 
Net realized and unrealized gain (loss) (.67) 
Total from investment operations (.65) 
Net asset value, end of period $9.35 
Total ReturnC (6.50)% 
Ratios to Average Net AssetsD,E  
Expenses before reductionsF - %G 
Expenses net of fee waivers, if anyF - %G 
Expenses net of all reductionsF - %G 
Net investment income (loss) 1.29%G 
Supplemental Data  
Net assets, end of period (000 omitted) $105,175 
Portfolio turnover rateH 1%I 

 A For the period September 13, 2018 (commencement of operations) to October 31, 2018.

 B Calculated based on average shares outstanding during the period.

 C Total returns for periods of less than one year are not annualized.

 D Fees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

 E Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.

 F Amount represents less than .005%.

 G Annualized

 H Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

 I Amount not annualized.

See accompanying notes which are an integral part of the financial statements.


Fidelity ZERO℠ Total Market Index Fund

Investment Summary (Unaudited)

Top Five Stocks as of October 31, 2018

 % of fund's net assets 
Apple, Inc. 4.1 
Microsoft Corp. 3.0 
Amazon.com, Inc. 2.3 
Berkshire Hathaway, Inc. Class B 1.4 
JPMorgan Chase & Co. 1.4 
 12.2 

Top Five Market Sectors as of October 31, 2018

 % of fund's net assets 
Information Technology 20.7 
Health Care 14.5 
Financials 14.3 
Consumer Discretionary 10.2 
Industrials 10.0 

Asset Allocation (% of fund's net assets)

As of October 31, 2018* 
   Stocks and Equity Futures 100.0% 


 * Foreign investments - 3.7%

Fidelity ZERO℠ Total Market Index Fund

Schedule of Investments October 31, 2018

Showing Percentage of Net Assets

Common Stocks - 99.8%   
 Shares Value 
COMMUNICATION SERVICES - 9.0%   
Diversified Telecommunication Services - 1.7%   
AT&T, Inc. 303,711 $9,317,853 
Atlantic Tele-Network, Inc. 443 37,429 
CenturyLink, Inc. 48,532 1,001,700 
Cincinnati Bell, Inc. (a) 1,962 27,841 
Cogent Communications Group, Inc. 2,314 120,282 
Consolidated Communications Holdings, Inc. (b) 2,828 35,407 
Frontier Communications Corp. (b) 3,102 14,921 
Globalstar, Inc. (a) 7,659 2,663 
IDT Corp. Class B 339 2,387 
Intelsat SA (a) 1,905 49,644 
Iridium Communications, Inc. (a) 4,168 82,568 
ORBCOMM, Inc. (a) 3,748 35,718 
Verizon Communications, Inc. 201,733 11,516,937 
Vonage Holdings Corp. (a) 9,723 128,927 
WideOpenWest, Inc. (a) 380 3,701 
Windstream Holdings, Inc. (a) 719 2,962 
Zayo Group Holdings, Inc. (a) 9,784 292,346 
  22,673,286 
Entertainment - 1.9%   
Activision Blizzard, Inc. 37,533 2,591,654 
AMC Entertainment Holdings, Inc. Class A 3,103 59,764 
Cinemark Holdings, Inc. 5,298 220,238 
Electronic Arts, Inc. (a) 15,333 1,394,996 
Glu Mobile, Inc. (a) 4,161 29,335 
Liberty Media Corp.:   
Liberty Braves Class A (a) 1,379 35,578 
Liberty Braves Class C (a) 415 10,749 
Liberty Formula One Group Series C (a) 11,018 364,475 
Liberty Media Class A (a) 288 9,127 
Liberty SiriusXM Series A (a) 2,651 109,327 
Liberty SiriusXM Series C (a) 9,916 409,233 
Lions Gate Entertainment Corp.:   
Class A 4,587 87,887 
Class B 3,880 69,025 
Live Nation Entertainment, Inc. (a) 6,743 352,659 
Marcus Corp. 1,007 39,293 
Netflix, Inc. (a) 21,441 6,470,465 
Pandora Media, Inc. (a) 12,953 110,101 
Take-Two Interactive Software, Inc. (a) 5,651 728,244 
The Madison Square Garden Co. (a) 832 230,148 
The Walt Disney Co. 74,708 8,578,720 
Twenty-First Century Fox, Inc.:   
Class A 49,786 2,266,259 
Class B 23,841 1,077,136 
Viacom, Inc.:   
Class A 1,491 52,737 
Class B (non-vtg.) 16,197 517,980 
World Wrestling Entertainment, Inc. Class A 1,835 133,203 
Zynga, Inc. (a) 37,758 137,439 
  26,085,772 
Interactive Media & Services - 3.9%   
Alphabet, Inc.:   
Class A (a) 14,917 16,268,182 
Class C (a) 14,756 15,888,818 
Care.com, Inc. (a) 730 12,848 
Facebook, Inc. Class A (a) 118,028 17,915,470 
IAC/InterActiveCorp (a) 3,765 740,161 
Liberty TripAdvisor Holdings, Inc. (a) 3,993 57,579 
Match Group, Inc. (a) 3,022 156,298 
MeetMe, Inc. (a) 3,097 13,658 
QuinStreet, Inc. (a) 1,680 26,712 
Snap, Inc. Class A (a)(b) 12,006 79,360 
TripAdvisor, Inc. (a) 5,386 280,826 
TrueCar, Inc. (a) 3,366 38,305 
Twitter, Inc. (a) 31,742 1,103,035 
XO Group, Inc. (a) 1,112 38,486 
Yelp, Inc. (a) 3,709 158,819 
Zillow Group, Inc.:   
Class A (a) 2,735 110,412 
Class C (a)(b) 4,779 192,403 
  53,081,372 
Media - 1.4%   
AMC Networks, Inc. Class A (a) 2,384 139,655 
Cable One, Inc. 218 195,271 
CBS Corp. Class B 18,238 1,045,949 
Charter Communications, Inc. Class A (a) 9,645 3,089,969 
Comcast Corp. Class A 231,042 8,811,942 
Discovery Communications, Inc.:   
Class A (a)(b) 8,087 261,938 
Class C (non-vtg.) (a) 9,929 291,019 
DISH Network Corp. Class A (a) 11,186 343,858 
E.W. Scripps Co. Class A 2,475 41,630 
Entercom Communications Corp. Class A 5,670 36,798 
Entravision Communication Corp. Class A 2,719 13,432 
Fluent, Inc. (a) 617 1,493 
Gannett Co., Inc. 4,408 42,758 
GCI Liberty, Inc. (a) 4,534 214,594 
Gray Television, Inc. (a) 3,969 68,703 
Hemisphere Media Group, Inc. (a) 228 3,071 
Interpublic Group of Companies, Inc. 19,850 459,726 
John Wiley & Sons, Inc. Class A 2,125 115,260 
Liberty Broadband Corp.:   
Class A (a) 1,306 108,124 
Class C (a) 7,591 629,522 
Liberty Global PLC:   
Class A (a) 10,844 277,932 
Class C (a) 29,236 732,069 
Loral Space & Communications Ltd. (a) 732 32,691 
Meredith Corp. 1,900 97,964 
MSG Network, Inc. Class A (a) 2,816 71,949 
National CineMedia, Inc. 2,297 20,558 
New Media Investment Group, Inc. 2,038 28,634 
News Corp.:   
Class A 19,540 257,733 
Class B 5,587 74,531 
Nexstar Broadcasting Group, Inc. Class A 2,354 176,291 
Omnicom Group, Inc. 11,362 844,424 
Scholastic Corp. 1,494 64,810 
Sinclair Broadcast Group, Inc. Class A 3,761 107,715 
Sirius XM Holdings, Inc. 72,592 437,004 
Tegna, Inc. 10,377 119,751 
The New York Times Co. Class A 5,943 156,895 
Tribune Media Co. Class A 3,382 128,550 
tronc, Inc. (a) 942 14,215 
  19,558,428 
Wireless Telecommunication Services - 0.1%   
Boingo Wireless, Inc. (a) 2,267 71,025 
Gogo, Inc. (a)(b) 2,818 16,119 
Shenandoah Telecommunications Co. 1,957 74,405 
Spok Holdings, Inc. 2,301 32,260 
Sprint Corp. (a) 32,420 198,410 
T-Mobile U.S., Inc. (a) 14,360 984,378 
Telephone & Data Systems, Inc. 4,663 143,760 
U.S. Cellular Corp. (a) 645 30,812 
  1,551,169 
TOTAL COMMUNICATION SERVICES  122,950,027 
CONSUMER DISCRETIONARY - 10.2%   
Auto Components - 0.3%   
Adient PLC (b) 4,692 142,731 
American Axle & Manufacturing Holdings, Inc. (a) 5,297 80,355 
Aptiv PLC 13,346 1,024,973 
Autoliv, Inc. 4,313 359,445 
BorgWarner, Inc. 10,221 402,810 
Cooper Tire & Rubber Co. 2,315 71,510 
Cooper-Standard Holding, Inc. (a) 709 65,689 
Dana Holding Corp. 7,617 118,597 
Delphi Technologies PLC 4,284 91,849 
Dorman Products, Inc. (a) 1,532 121,043 
Fox Factory Holding Corp. (a) 1,923 103,323 
Gentex Corp. 13,928 293,184 
Gentherm, Inc. (a) 1,588 69,300 
Hertz Global Holdings, Inc. (a) 4,252 58,465 
Horizon Global Corp. (a) 442 2,480 
LCI Industries 1,187 82,318 
Lear Corp. 3,304 439,102 
Modine Manufacturing Co. (a) 2,115 27,516 
Motorcar Parts of America, Inc. (a) 813 17,219 
Shiloh Industries, Inc. (a) 188 1,709 
Standard Motor Products, Inc. 1,163 62,930 
Stoneridge, Inc. (a) 1,084 27,544 
Superior Industries International, Inc. 1,109 10,901 
Tenneco, Inc. 3,262 112,311 
The Goodyear Tire & Rubber Co. 11,781 248,108 
Tower International, Inc. 981 29,126 
Veoneer, Inc. (a)(b) 4,291 144,092 
Visteon Corp. (a) 1,409 111,367 
  4,319,997 
Automobiles - 0.5%   
Ford Motor Co. 194,702 1,859,404 
General Motors Co. 63,507 2,323,721 
Harley-Davidson, Inc. 8,359 319,481 
REV Group, Inc. 1,337 14,587 
Tesla, Inc. (a) 6,584 2,220,915 
Thor Industries, Inc. 2,310 160,868 
Winnebago Industries, Inc. 1,592 43,876 
  6,942,852 
Distributors - 0.1%   
Core-Mark Holding Co., Inc. 2,333 89,611 
Genuine Parts Co. 7,302 715,012 
LKQ Corp. (a) 14,840 404,687 
Pool Corp. 1,908 278,091 
  1,487,401 
Diversified Consumer Services - 0.2%   
Adtalem Global Education, Inc. (a) 2,809 142,220 
American Public Education, Inc. (a) 775 25,366 
Bridgepoint Education, Inc. (a) 1,165 11,184 
Bright Horizons Family Solutions, Inc. (a) 2,727 313,360 
Career Education Corp. (a) 3,877 55,751 
Carriage Services, Inc. 1,406 26,798 
Chegg, Inc. (a) 3,891 106,146 
Frontdoor, Inc. (a) 3,769 128,334 
Graham Holdings Co. 202 117,372 
Grand Canyon Education, Inc. (a) 2,297 286,436 
H&R Block, Inc. 10,421 276,573 
Houghton Mifflin Harcourt Co. (a) 3,983 26,686 
K12, Inc. (a) 2,145 45,924 
Laureate Education, Inc. Class A (a) 1,393 20,742 
Regis Corp. (a) 1,879 31,642 
Service Corp. International 9,140 379,036 
ServiceMaster Global Holdings, Inc. (a) 6,626 284,123 
Sotheby's Class A (Ltd. vtg.) (a) 1,637 68,754 
Strategic Education, Inc. 501 63,036 
Weight Watchers International, Inc. (a) 1,314 86,855 
  2,496,338 
Hotels, Restaurants & Leisure - 2.0%   
ARAMARK Holdings Corp. 12,221 438,978 
Belmond Ltd. Class A (a) 4,347 74,421 
Biglari Holdings, Inc. (a) 11 8,250 
Biglari Holdings, Inc. (a) 33 4,703 
BJ's Restaurants, Inc. 774 47,353 
Bloomin' Brands, Inc. 4,403 87,840 
Bojangles', Inc. (a) 803 12,695 
Boyd Gaming Corp. 4,012 106,559 
Brinker International, Inc. 2,360 102,306 
Caesars Entertainment Corp. (a)(b) 7,561 64,949 
Carnival Corp. 20,267 1,135,763 
Carrols Restaurant Group, Inc. (a) 1,274 16,766 
Chipotle Mexican Grill, Inc. (a) 1,242 571,730 
Choice Hotels International, Inc. 1,826 134,028 
Churchill Downs, Inc. 714 178,222 
Chuy's Holdings, Inc. (a) 688 16,767 
Cracker Barrel Old Country Store, Inc. (b) 1,157 183,593 
Darden Restaurants, Inc. 6,142 654,430 
Dave & Buster's Entertainment, Inc. 1,914 113,979 
Del Frisco's Restaurant Group, Inc. (a) 412 2,781 
Del Taco Restaurants, Inc. (a) 1,465 15,969 
Denny's Corp. (a) 3,786 65,687 
Dine Brands Global, Inc. 775 62,806 
Domino's Pizza, Inc. 2,209 593,757 
Drive Shack, Inc. (a) 2,256 12,047 
Dunkin' Brands Group, Inc. 4,504 326,810 
El Pollo Loco Holdings, Inc. (a) 1,746 21,842 
Eldorado Resorts, Inc. (a)(b) 2,761 100,777 
Extended Stay America, Inc. unit 10,007 162,914 
Fiesta Restaurant Group, Inc. (a) 1,392 35,928 
Golden Entertainment, Inc. (a) 702 12,755 
Habit Restaurants, Inc. Class A (a) 876 11,125 
Hilton Grand Vacations, Inc. (a) 3,375 90,686 
Hilton Worldwide Holdings, Inc. 9,997 711,486 
Hyatt Hotels Corp. Class A 2,669 184,695 
International Speedway Corp. Class A 1,449 54,352 
Jack in the Box, Inc. 1,427 112,633 
Las Vegas Sands Corp. 18,137 925,531 
Marriott International, Inc. Class A 15,221 1,779,183 
Marriott Vacations Worldwide Corp. 1,225 108,400 
McDonald's Corp. 39,434 6,975,875 
MGM Mirage, Inc. 25,213 672,683 
Monarch Casino & Resort, Inc. (a) 309 11,980 
Norwegian Cruise Line Holdings Ltd. (a) 8,915 392,884 
Papa John's International, Inc. (b) 1,100 59,994 
Penn National Gaming, Inc. (a) 4,962 120,477 
Planet Fitness, Inc. (a) 4,438 217,861 
Playa Hotels & Resorts NV (a) 2,729 23,442 
PlayAGS, Inc. (a) 218 5,287 
Potbelly Corp. (a) 785 9,169 
RCI Hospitality Holdings, Inc. 159 4,163 
Red Robin Gourmet Burgers, Inc. (a) 473 14,285 
Red Rock Resorts, Inc. 3,550 82,147 
Royal Caribbean Cruises Ltd. 8,561 896,594 
Ruth's Hospitality Group, Inc. 1,251 33,815 
Scientific Games Corp. Class A (a) 2,838 63,174 
SeaWorld Entertainment, Inc. (a) 3,204 83,688 
Shake Shack, Inc. Class A (a) 784 41,466 
Six Flags Entertainment Corp. 3,707 199,659 
Sonic Corp. 1,993 86,257 
Starbucks Corp. 70,323 4,097,721 
Texas Roadhouse, Inc. Class A 3,536 213,787 
The Cheesecake Factory, Inc. 2,064 99,774 
U.S. Foods Holding Corp. (a) 6,920 201,856 
Vail Resorts, Inc. 2,000 502,640 
Wendy's Co. 8,871 152,936 
Wingstop, Inc. 1,410 88,294 
Wyndham Destinations, Inc. 5,055 181,373 
Wyndham Hotels & Resorts, Inc. 5,123 252,513 
Wynn Resorts Ltd. 3,873 389,624 
Yum! Brands, Inc. 16,701 1,509,937 
Zoe's Kitchen, Inc. (a) 383 4,872 
  27,035,723 
Household Durables - 0.4%   
Beazer Homes U.S.A., Inc. (a) 2,217 19,532 
Cavco Industries, Inc. (a) 437 87,667 
Century Communities, Inc. (a) 884 18,758 
D.R. Horton, Inc. 16,837 605,459 
Ethan Allen Interiors, Inc. 1,561 29,878 
Flexsteel Industries, Inc. 700 17,794 
Garmin Ltd. 5,406 357,661 
GoPro, Inc. Class A (a)(b) 4,276 28,093 
Green Brick Partners, Inc. (a) 457 4,296 
Hamilton Beach Brands Holding Co. Class A 96 2,229 
Helen of Troy Ltd. (a) 1,311 162,721 
Hooker Furniture Corp. 594 17,386 
Hovnanian Enterprises, Inc. Class A (a) 2,216 3,235 
Installed Building Products, Inc. (a) 734 22,358 
iRobot Corp. (a)(b) 1,291 113,827 
KB Home 5,096 101,767 
La-Z-Boy, Inc. 2,446 67,999 
Leggett & Platt, Inc. 6,377 231,549 
Lennar Corp.:   
Class A 11,073 475,918 
Class B 3,554 127,127 
LGI Homes, Inc. (a)(b) 672 28,755 
Libbey, Inc. 435 3,280 
M.D.C. Holdings, Inc. 1,879 52,800 
M/I Homes, Inc. (a) 2,042 49,355 
Meritage Homes Corp. (a) 1,619 60,308 
Mohawk Industries, Inc. (a) 3,078 383,919 
Newell Brands, Inc. 24,025 381,517 
NVR, Inc. (a) 177 396,308 
PulteGroup, Inc. 13,760 338,083 
Roku, Inc. Class A (a) 767 42,645 
Taylor Morrison Home Corp. (a) 4,707 77,854 
Tempur Sealy International, Inc. (a) 2,297 106,144 
Toll Brothers, Inc. 7,249 244,001 
TopBuild Corp. (a) 1,963 89,552 
TRI Pointe Homes, Inc. (a) 6,530 77,707 
Tupperware Brands Corp. 2,402 84,310 
Universal Electronics, Inc. (a) 598 18,699 
Vuzix Corp. (a) 423 2,572 
Whirlpool Corp. 3,562 390,965 
William Lyon Homes, Inc. (a) 860 11,662 
Zagg, Inc. (a) 1,231 14,907 
  5,350,597 
Internet & Direct Marketing Retail - 3.0%   
1-800-FLOWERS.com, Inc. Class A (a) 1,383 14,452 
Amazon.com, Inc. (a) 19,789 31,623,020 
Blue Apron Holdings, Inc. Class A (a)(b) 545 774 
Duluth Holdings, Inc. (a) 430 13,214 
eBay, Inc. (a) 48,439 1,406,184 
Etsy, Inc. (a) 5,359 227,865 
Expedia, Inc. 6,163 773,025 
FTD Companies, Inc. (a) 295 584 
Groupon, Inc. (a) 17,865 58,419 
GrubHub, Inc. (a) 4,347 403,141 
Lands' End, Inc. (a) 776 12,657 
Liberty Expedia Holdings, Inc. (a) 2,895 125,701 
Liberty Interactive Corp. QVC Group Series A (a) 23,570 517,126 
NutriSystem, Inc. 1,717 61,057 
Overstock.com, Inc. (a) 609 12,253 
PetMed Express, Inc. 798 22,296 
Quotient Technology, Inc. (a) 3,022 38,893 
Shutterfly, Inc. (a) 1,629 81,450 
Shutterstock, Inc. 1,065 43,537 
Stamps.com, Inc. (a) 886 179,123 
The Booking Holdings, Inc. (a) 2,416 4,528,985 
Wayfair LLC Class A (a) 2,177 240,101 
  40,383,857 
Leisure Products - 0.1%   
American Outdoor Brands Corp. (a) 2,475 33,858 
Brunswick Corp. 4,108 213,575 
Callaway Golf Co. 5,022 107,471 
Hasbro, Inc. 5,598 513,393 
Johnson Outdoors, Inc. Class A 260 19,581 
Malibu Boats, Inc. Class A (a) 858 34,492 
Mattel, Inc. (a)(b) 17,139 232,748 
MCBC Holdings, Inc. (a) 763 22,646 
Nautilus, Inc. (a) 1,184 14,480 
Polaris Industries, Inc. 2,947 262,224 
Sturm, Ruger & Co., Inc. (b) 857 50,897 
Vista Outdoor, Inc. (a) 2,973 37,163 
  1,542,528 
Media - 0.0%   
Altice U.S.A., Inc. Class A 2,671 43,564 
Liberty Latin America Ltd. (a) 6,769 121,910 
Liberty Latin America Ltd. Class A (a) 1,774 31,897 
  197,371 
Multiline Retail - 0.5%   
Big Lots, Inc. 2,239 92,963 
Dillard's, Inc. Class A (b) 1,123 79,082 
Dollar General Corp. 12,930 1,440,143 
Dollar Tree, Inc. (a) 11,811 995,667 
Fred's, Inc. Class A (a) 630 1,726 
JC Penney Corp., Inc. (a)(b) 17,144 25,202 
Kohl's Corp. 8,334 631,134 
Macy's, Inc. 15,274 523,745 
Nordstrom, Inc. 5,757 378,638 
Ollie's Bargain Outlet Holdings, Inc. (a) 2,392 222,217 
Target Corp. 26,859 2,246,218 
  6,636,735 
Specialty Retail - 2.3%   
Aaron's, Inc. Class A 2,951 139,081 
Abercrombie & Fitch Co. Class A 3,064 60,361 
Advance Auto Parts, Inc. 3,673 586,798 
America's Car Mart, Inc. (a) 262 19,624 
American Eagle Outfitters, Inc. 8,853 204,150 
Armstrong Flooring, Inc. (a) 856 13,311 
Asbury Automotive Group, Inc. (a) 1,095 71,285 
Ascena Retail Group, Inc. (a) 9,235 35,555 
AutoNation, Inc. (a) 3,221 130,386 
AutoZone, Inc. (a) 1,352 991,651 
Barnes & Noble Education, Inc. (a) 697 3,980 
Barnes & Noble, Inc. 3,395 21,490 
Bed Bath & Beyond, Inc. (b) 6,684 91,838 
Best Buy Co., Inc. 12,810 898,750 
Big 5 Sporting Goods Corp. (b) 335 1,176 
Boot Barn Holdings, Inc. (a) 915 22,582 
Burlington Stores, Inc. (a) 3,385 580,494 
Caleres, Inc. 1,875 64,125 
Camping World Holdings, Inc. 1,624 27,852 
CarMax, Inc. (a) 8,975 609,492 
Cars.com, Inc. (a) 3,177 82,951 
Chico's FAS, Inc. 5,521 42,346 
Citi Trends, Inc. 1,141 28,902 
Conn's, Inc. (a) 1,362 37,836 
Dick's Sporting Goods, Inc. 3,857 136,422 
DSW, Inc. Class A 3,643 96,722 
Express, Inc. (a) 3,181 28,025 
Five Below, Inc. (a) 2,714 308,907 
Floor & Decor Holdings, Inc. Class A (a)(b) 1,384 35,403 
Foot Locker, Inc. 6,011 283,359 
Francesca's Holdings Corp. (a) 707 2,149 
GameStop Corp. Class A (b) 5,110 74,606 
Gap, Inc. 10,581 288,861 
Genesco, Inc. (a) 1,215 51,990 
GNC Holdings, Inc. Class A (a)(b) 3,232 11,894 
Group 1 Automotive, Inc. 814 47,000 
Guess?, Inc. 2,689 57,114 
Haverty Furniture Companies, Inc. 1,794 36,382 
Hibbett Sports, Inc. (a) 917 16,020 
Home Depot, Inc. 57,722 10,152,145 
Kirkland's, Inc. (a) 270 2,730 
L Brands, Inc. 12,225 396,335 
Lithia Motors, Inc. Class A (sub. vtg.) 1,249 111,261 
Lowe's Companies, Inc. 41,232 3,926,111 
Lumber Liquidators Holdings, Inc. (a)(b) 1,469 17,569 
MarineMax, Inc. (a) 854 19,437 
Michaels Companies, Inc. (a)(b) 5,606 88,855 
Monro, Inc. 1,599 118,966 
Murphy U.S.A., Inc. (a) 1,677 135,217 
O'Reilly Automotive, Inc. (a) 4,217 1,352,603 
Office Depot, Inc. 26,791 68,585 
Party City Holdco, Inc. (a) 1,854 19,411 
Penske Automotive Group, Inc. 1,547 68,656 
Pier 1 Imports, Inc. 1,466 2,331 
Rent-A-Center, Inc. (a) 2,757 39,287 
RH (a)(b) 866 100,205 
Ross Stores, Inc. 19,094 1,890,306 
Sally Beauty Holdings, Inc. (a) 6,042 107,608 
Shoe Carnival, Inc. 529 21,546 
Signet Jewelers Ltd. 3,033 170,000 
Sleep Number Corp. (a) 2,191 79,687 
Sonic Automotive, Inc. Class A (sub. vtg.) 1,279 23,175 
Sportsman's Warehouse Holdings, Inc. (a) 690 3,471 
Tailored Brands, Inc. 2,418 50,802 
The Buckle, Inc. 1,849 37,720 
The Cato Corp. Class A (sub. vtg.) 1,036 19,974 
The Children's Place Retail Stores, Inc. 908 135,655 
Tiffany & Co., Inc. 5,050 562,065 
Tile Shop Holdings, Inc. 656 4,264 
Tilly's, Inc. 619 10,981 
TJX Companies, Inc. 31,382 3,448,254 
Tractor Supply Co. 6,236 573,026 
Ulta Beauty, Inc. (a) 2,925 802,971 
Urban Outfitters, Inc. (a) 3,824 150,895 
Vitamin Shoppe, Inc. (a) 482 3,745 
Williams-Sonoma, Inc. 3,984 236,570 
Zumiez, Inc. (a) 879 20,446 
  31,213,735 
Textiles, Apparel & Luxury Goods - 0.8%   
Carter's, Inc. 2,303 221,042 
Columbia Sportswear Co. 1,440 130,003 
Crocs, Inc. (a) 3,063 62,914 
Deckers Outdoor Corp. (a) 1,613 205,125 
Emerald Expositions Events, Inc. 285 4,167 
Fossil Group, Inc. (a) 2,275 49,390 
G-III Apparel Group Ltd. (a) 1,816 72,386 
Garrett Motion, Inc. (a) 4,522 68,599 
Hanesbrands, Inc. 17,699 303,715 
J.Jill, Inc. (a) 220 1,111 
lululemon athletica, Inc. (a) 4,748 668,186 
Michael Kors Holdings Ltd. (a) 7,696 426,435 
Movado Group, Inc. 857 33,003 
NIKE, Inc. Class B 64,938 4,872,948 
Oxford Industries, Inc. 700 62,286 
PetIQ, Inc. Class A (a) 322 10,195 
PVH Corp. 3,870 467,457 
Ralph Lauren Corp. 2,815 364,852 
Samsonite International SA 67,800 194,531 
Skechers U.S.A., Inc. Class A (sub. vtg.) (a) 6,476 185,019 
Steven Madden Ltd. 4,495 140,559 
Stitch Fix, Inc. (a)(b) 334 8,804 
Tapestry, Inc. 14,118 597,333 
Under Armour, Inc.:   
Class A (sub. vtg.) (a)(b) 7,031 155,455 
Class C (non-vtg.) (a)(b) 11,698 231,971 
Unifi, Inc. (a) 877 20,075 
Vera Bradley, Inc. (a) 944 12,451 
VF Corp. 16,282 1,349,452 
Wolverine World Wide, Inc. 4,593 161,536 
  11,081,000 
TOTAL CONSUMER DISCRETIONARY  138,688,134 
CONSUMER STAPLES - 6.6%   
Beverages - 1.6%   
Boston Beer Co., Inc. Class A (a) 413 126,911 
Brown-Forman Corp. Class B (non-vtg.) 12,106 560,992 
Coca-Cola Bottling Co. Consolidated 189 32,627 
Constellation Brands, Inc. Class A (sub. vtg.) 8,582 1,709,792 
Craft Brew Alliance, Inc. (a) 156 2,861 
Keurig Dr. Pepper, Inc. 8,991 233,766 
MGP Ingredients, Inc. (b) 737 52,452 
Molson Coors Brewing Co. Class B 9,177 587,328 
Monster Beverage Corp. (a) 20,566 1,086,913 
National Beverage Corp. (a) 593 54,823 
PepsiCo, Inc. 70,348 7,905,708 
Primo Water Corp. (a) 1,410 23,505 
The Coca-Cola Co. 189,223 9,059,997 
  21,437,675 
Food & Staples Retailing - 1.4%   
Andersons, Inc. 1,559 56,124 
Casey's General Stores, Inc. 1,991 251,085 
Chefs' Warehouse Holdings (a) 1,004 33,765 
Costco Wholesale Corp. 21,582 4,934,293 
Ingles Markets, Inc. Class A 557 18,348 
Kroger Co. 44,290 1,318,070 
Performance Food Group Co. (a) 4,083 119,714 
PriceSmart, Inc. 1,075 75,411 
Rite Aid Corp. (a)(b) 49,888 59,866 
Smart & Final Stores, Inc. (a) 525 2,651 
SpartanNash Co. 1,459 26,043 
Sprouts Farmers Market LLC (a) 6,051 162,711 
Sysco Corp. 23,698 1,690,378 
United Natural Foods, Inc. (a) 2,619 56,911 
Walgreens Boots Alliance, Inc. 42,987 3,429,073 
Walmart, Inc. 72,351 7,255,358 
Weis Markets, Inc. 914 42,181 
Welbilt, Inc. (a) 6,332 118,535 
  19,650,517 
Food Products - 1.2%   
Archer Daniels Midland Co. 27,322 1,290,965 
B&G Foods, Inc. Class A (b) 3,471 90,385 
Bunge Ltd. 6,861 424,010 
Cal-Maine Foods, Inc. 1,607 78,213 
Calavo Growers, Inc. 721 69,937 
Campbell Soup Co. (b) 9,415 352,215 
Conagra Brands, Inc. 20,066 714,350 
Darling International, Inc. (a) 9,144 188,915 
Dean Foods Co. 4,885 39,031 
Farmer Brothers Co. (a) 246 5,931 
Flowers Foods, Inc. 9,316 179,892 
Fresh Del Monte Produce, Inc. 1,990 65,730 
Freshpet, Inc. (a) 960 36,576 
General Mills, Inc. 28,317 1,240,285 
Hormel Foods Corp. (b) 13,216 576,746 
Hostess Brands, Inc. Class A (a) 3,147 32,729 
Ingredion, Inc. 3,554 359,594 
J&J Snack Foods Corp. 748 116,808 
John B. Sanfilippo & Son, Inc. 453 28,566 
Kellogg Co. 12,356 809,071 
Lamb Weston Holdings, Inc. 7,226 564,784 
Lancaster Colony Corp. 931 159,555 
McCormick & Co., Inc. (non-vtg.) 5,937 854,928 
Mondelez International, Inc. 73,654 3,091,995 
Pilgrim's Pride Corp. (a) 3,068 54,181 
Post Holdings, Inc. (a) 3,256 287,896 
Sanderson Farms, Inc. 1,039 102,227 
Seaboard Corp. 12 46,380 
The Hain Celestial Group, Inc. (a) 5,297 131,789 
The Hershey Co. 6,918 741,264 
The J.M. Smucker Co. 5,576 603,992 
The Kraft Heinz Co. 29,621 1,628,266 
Tootsie Roll Industries, Inc. 1,483 46,818 
TreeHouse Foods, Inc. (a) 2,665 121,417 
Tyson Foods, Inc. Class A 14,792 886,337 
  16,021,778 
Household Products - 1.3%   
Central Garden & Pet Co. (a) 435 14,129 
Central Garden & Pet Co. Class A (non-vtg.) (a) 1,910 56,632 
Church & Dwight Co., Inc. 12,504 742,362 
Clorox Co. 6,308 936,423 
Colgate-Palmolive Co. 43,523 2,591,795 
Energizer Holdings, Inc. 3,145 184,832 
Kimberly-Clark Corp. 17,463 1,821,391 
Orchids Paper Products Co. (a) 56 87 
Procter & Gamble Co. 125,919 11,166,497 
Spectrum Brands Holdings, Inc. 1,209 78,525 
WD-40 Co. 780 130,322 
  17,722,995 
Personal Products - 0.2%   
Avon Products, Inc. (a) 23,141 45,356 
Coty, Inc. Class A 23,532 248,263 
Edgewell Personal Care Co. (a) 2,730 130,985 
elf Beauty, Inc. (a)(b) 1,086 11,522 
Estee Lauder Companies, Inc. Class A 11,128 1,529,432 
Herbalife Nutrition Ltd. (a) 6,070 323,288 
Inter Parfums, Inc. 962 56,748 
MediFast, Inc. 486 102,876 
Natural Health Trends Corp. 119 2,706 
Nu Skin Enterprises, Inc. Class A 2,526 177,376 
Revlon, Inc. (a) 432 9,072 
USANA Health Sciences, Inc. (a) 583 68,223 
  2,705,847 
Tobacco - 0.9%   
22nd Century Group, Inc. (a) 4,650 11,253 
Altria Group, Inc. 94,375 6,138,150 
Philip Morris International, Inc. 76,916 6,773,992 
Universal Corp. 1,184 80,346 
Vector Group Ltd. 5,085 68,749 
  13,072,490 
TOTAL CONSUMER STAPLES  90,611,302 
ENERGY - 5.3%   
Energy Equipment & Services - 0.7%   
Archrock, Inc. 2,729 28,000 
Baker Hughes, a GE Co. Class A 21,356 569,992 
Basic Energy Services, Inc. (a) 425 3,302 
Bristow Group, Inc. (a) 1,523 16,768 
C&J Energy Services, Inc. (a) 3,574 67,120 
Carbo Ceramics, Inc. (a)(b) 399 1,927 
Core Laboratories NV 2,086 177,811 
Diamond Offshore Drilling, Inc. (a) 2,783 39,463 
Dril-Quip, Inc. (a) 2,237 95,207 
Ensco PLC Class A 21,570 154,010 
Exterran Corp. (a) 1,672 34,928 
Forum Energy Technologies, Inc. (a) 3,505 31,405 
Frank's International NV (a) 3,075 21,833 
FTS International, Inc. (a) 362 4,637 
Halliburton Co. 42,952 1,489,575 
Helix Energy Solutions Group, Inc. (a) 7,159 60,995 
Helmerich & Payne, Inc. 6,004 373,989 
Hornbeck Offshore Services, Inc. (a) 634 1,997 
Key Energy Services, Inc. (a) 124 1,122 
KLX Energy Services Holdings, Inc. (a) 1,007 29,092 
Mammoth Energy Services, Inc. 457 11,407 
Matrix Service Co. (a) 1,745 35,476 
McDermott International, Inc. (a) 5,876 45,421 
Nabors Industries Ltd. 18,130 90,106 
National Oilwell Varco, Inc. 19,061 701,445 
NCS Multistage Holdings, Inc. (a) 143 1,616 
Newpark Resources, Inc. (a) 3,310 27,175 
Noble Corp. (a) 10,565 53,036 
Oceaneering International, Inc. (a) 5,585 105,780 
Oil States International, Inc. (a) 2,147 47,814 
Patterson-UTI Energy, Inc. 10,400 173,056 
Pioneer Energy Services Corp. (a) 1,501 4,458 
Rowan Companies PLC (a) 5,329 84,784 
RPC, Inc. 2,394 35,623 
Schlumberger Ltd. 69,027 3,541,775 
SEACOR Holdings, Inc. (a) 768 36,856 
SEACOR Marine Holdings, Inc. (a) 662 12,101 
Smart Sand, Inc. (a)(b) 382 1,058 
Solaris Oilfield Infrastructure, Inc. Class A (a) 843 11,128 
Superior Energy Services, Inc. (a) 6,926 54,231 
TechnipFMC PLC 21,844 574,497 
TETRA Technologies, Inc. (a) 6,072 18,034 
Transocean Ltd. (United States) (a)(b) 21,655 238,422 
U.S. Silica Holdings, Inc. 3,704 51,856 
Unit Corp. (a) 2,436 56,345 
Weatherford International PLC (a)(b) 47,907 64,674 
  9,281,347 
Oil, Gas & Consumable Fuels - 4.6%   
Abraxas Petroleum Corp. (a) 7,061 12,992 
Anadarko Petroleum Corp. 27,242 1,449,274 
Antero Resources Corp. (a) 10,007 159,011 
Apache Corp. 18,755 709,502 
Approach Resources, Inc. (a)(b) 686 1,146 
Arch Coal, Inc. 1,337 128,218 
Ardmore Shipping Corp. (a) 647 4,180 
Bonanza Creek Energy, Inc. (a) 737 18,978 
Cabot Oil & Gas Corp. 22,934 555,691 
California Resources Corp. (a) 1,827 57,258 
Callon Petroleum Co. (a) 9,204 91,764 
Carrizo Oil & Gas, Inc. (a) 4,114 74,916 
Centennial Resource Development, Inc. Class A (a) 8,621 165,178 
Cheniere Energy, Inc. (a) 10,070 608,329 
Chesapeake Energy Corp. (a)(b) 45,894 161,088 
Chevron Corp. 93,871 10,480,697 
Cimarex Energy Co. 4,764 378,595 
Clean Energy Fuels Corp. (a) 5,386 11,903 
Cloud Peak Energy, Inc. (a) 1,411 2,413 
CNX Resources Corp. (a) 11,928 186,673 
Concho Resources, Inc. (a) 7,433 1,033,856 
ConocoPhillips Co. 59,348 4,148,425 
CONSOL Energy, Inc. (a) 1,093 43,545 
Contango Oil & Gas Co. (a) 437 2,207 
Continental Resources, Inc. (a) 4,488 236,428 
CVR Energy, Inc. 695 29,885 
Delek U.S. Holdings, Inc. 4,019 147,578 
Denbury Resources, Inc. (a) 19,836 68,434 
Devon Energy Corp. 25,902 839,225 
Diamondback Energy, Inc. 4,800 539,328 
Eclipse Resources Corp. (a) 1,554 1,772 
Energen Corp. (a) 4,711 339,051 
EOG Resources, Inc. 28,707 3,023,995 
EP Energy Corp. (a) 768 1,382 
EQT Corp. 11,988 407,232 
Extraction Oil & Gas, Inc. (a) 6,442 51,472 
Exxon Mobil Corp. 209,393 16,684,434 
Green Plains, Inc. 1,742 29,684 
Gulfport Energy Corp. (a) 8,552 77,909 
Halcon Resources Corp. (a) 8,641 28,688 
Hess Corp. 13,533 776,794 
Highpoint Resources, Inc. (a) 3,525 13,113 
HollyFrontier Corp. 8,727 588,549 
International Seaways, Inc. (a) 1,272 27,361 
Jones Energy, Inc. (a) 25 80 
Kinder Morgan, Inc. 96,115 1,635,877 
Kosmos Energy Ltd. (a) 10,063 65,309 
Laredo Petroleum, Inc. (a) 5,872 30,769 
Marathon Oil Corp. 41,469 787,496 
Marathon Petroleum Corp. 24,341 1,714,823 
Matador Resources Co. (a) 4,527 130,559 
Midstates Petroleum Co., Inc. (a) 1,834 13,223 
Murphy Oil Corp. 8,316 264,948 
NACCO Industries, Inc. Class A 326 11,260 
Newfield Exploration Co. (a) 9,660 195,132 
Nine Energy Service, Inc. (a) 129 4,777 
Noble Energy, Inc. 23,883 593,493 
Oasis Petroleum, Inc. (a) 13,296 133,758 
Occidental Petroleum Corp. 38,010 2,549,331 
ONEOK, Inc. 20,540 1,347,424 
Overseas Shipholding Group, Inc. (a) 643 2,019 
Pacific Ethanol, Inc. (a) 673 1,104 
Par Pacific Holdings, Inc. (a) 1,170 20,686 
Parsley Energy, Inc. Class A (a) 11,956 280,010 
PBF Energy, Inc. Class A 5,716 239,215 
PDC Energy, Inc. (a) 3,288 139,576 
Peabody Energy Corp. 5,250 186,113 
Penn Virginia Corp. (a) 573 39,411 
Phillips 66 Co. 21,366 2,196,852 
Pioneer Natural Resources Co. 8,543 1,258,128 
QEP Resources, Inc. (a) 10,821 96,415 
Range Resources Corp. 11,539 182,893 
Renewable Energy Group, Inc. (a) 1,753 54,483 
Resolute Energy Corp. (a)(b) 850 23,656 
Rex American Resources Corp. (a) 539 39,978 
Ring Energy, Inc. (a) 1,832 13,062 
Sanchez Energy Corp. (a) 1,480 2,457 
SandRidge Energy, Inc. (a) 1,787 15,994 
SemGroup Corp. Class A 3,146 58,170 
SM Energy Co. 5,067 123,331 
Southwestern Energy Co. (a) 24,174 129,089 
SRC Energy, Inc. (a) 10,983 77,760 
Talos Energy, Inc. (a) 876 22,829 
Targa Resources Corp. 10,469 540,933 
Teekay Corp. 3,958 26,242 
Teekay Tankers Ltd. 2,146 2,382 
Tellurian, Inc. (a)(b) 3,095 24,760 
The Williams Companies, Inc. 40,510 985,608 
Ultra Petroleum Corp. (a) 8,666 10,399 
Uranium Energy Corp. (a)(b) 2,533 3,369 
Valero Energy Corp. 21,744 1,980,661 
W&T Offshore, Inc. (a) 4,735 31,914 
Whiting Petroleum Corp. (a) 4,860 181,278 
WildHorse Resource Development Corp. (a) 934 19,810 
World Fuel Services Corp. 3,379 108,128 
WPX Energy, Inc. (a) 20,387 327,007 
  63,322,134 
TOTAL ENERGY  72,603,481 
FINANCIALS - 14.3%   
Banks - 6.2%   
1st Source Corp. 1,038 48,360 
Ameris Bancorp 2,195 94,144 
Associated Banc-Corp. 7,744 179,506 
Atlantic Capital Bancshares, Inc. (a) 497 7,490 
Banc of California, Inc. 1,582 25,233 
BancFirst Corp. 880 50,494 
Bancorp, Inc., Delaware (a) 2,852 29,946 
BancorpSouth Bank 4,393 126,079 
Bank of America Corp. 479,551 13,187,653 
Bank of Hawaii Corp. 1,798 141,035 
Bank of Marin Bancorp 451 38,330 
Bank of the Ozarks, Inc. 6,089 166,595 
BankUnited, Inc. 5,644 186,816 
Banner Corp. 1,491 86,210 
BB&T Corp. 39,273 1,930,661 
Berkshire Hills Bancorp, Inc. 1,864 62,202 
BOK Financial Corp. 1,234 105,791 
Boston Private Financial Holdings, Inc. 4,978 67,203 
Bridge Bancorp, Inc. 1,545 45,887 
Brookline Bancorp, Inc., Delaware 2,862 44,361 
Bryn Mawr Bank Corp. 931 37,184 
Byline Bancorp, Inc. (a) 61 1,342 
Cadence Bancorp Class A 1,240 27,354 
Camden National Corp. 846 34,305 
Carolina Financial Corp. 547 18,100 
Cathay General Bancorp 4,063 153,053 
Centerstate Banks of Florida, Inc. 3,035 74,600 
Central Pacific Financial Corp. 1,046 28,284 
Chemical Financial Corp. 4,006 187,721 
CIT Group, Inc. 6,754 320,005 
Citigroup, Inc. 130,837 8,564,590 
Citizens Financial Group, Inc. 23,949 894,495 
City Holding Co. 835 61,606 
Columbia Banking Systems, Inc. 4,124 152,959 
Comerica, Inc. 8,894 725,395 
Commerce Bancshares, Inc. 4,813 306,107 
Community Bank System, Inc. 2,133 124,546 
Community Trust Bancorp, Inc. 866 39,412 
ConnectOne Bancorp, Inc. 919 19,051 
Cullen/Frost Bankers, Inc. 2,692 263,601 
Customers Bancorp, Inc. (a) 1,509 30,919 
CVB Financial Corp. 4,448 97,189 
Eagle Bancorp, Inc. (a) 1,390 68,346 
East West Bancorp, Inc. 7,215 378,355 
Enterprise Financial Services Corp. 1,237 53,748 
Equity Bancshares, Inc. (a) 221 7,976 
FCB Financial Holdings, Inc. Class A (a) 2,368 92,660 
Fidelity Southern Corp. 1,582 36,734 
Fifth Third Bancorp 34,557 932,693 
Financial Institutions, Inc. 275 7,851 
First Bancorp, North Carolina 1,576 58,139 
First Bancorp, Puerto Rico (a) 8,592 79,304 
First Busey Corp. 2,319 64,746 
First Citizen Bancshares, Inc. 428 182,598 
First Commonwealth Financial Corp. 5,687 76,775 
First Financial Bancorp, Ohio 3,340 87,408 
First Financial Bankshares, Inc. 3,392 200,094 
First Foundation, Inc. (a) 1,566 25,385 
First Hawaiian, Inc. 1,825 45,224 
First Horizon National Corp. 16,542 266,988 
First Internet Bancorp 129 3,324 
First Interstate Bancsystem, Inc. 575 23,840 
First Merchants Corp. 1,818 75,647 
First Midwest Bancorp, Inc., Delaware 5,442 124,948 
First of Long Island Corp. 1,241 25,081 
First Republic Bank 8,084 735,563 
Flushing Financial Corp. 1,259 28,567 
FNB Corp., Pennsylvania 18,705 221,280 
Franklin Financial Network, Inc. (a) 808 27,391 
Fulton Financial Corp. 10,643 170,394 
German American Bancorp, Inc. 1,175 37,259 
Glacier Bancorp, Inc. 4,183 177,359 
Great Western Bancorp, Inc. 2,655 97,306 
Green Bancorp, Inc. 1,388 25,678 
Guaranty Bancorp 1,133 29,481 
Hancock Whitney Corp. 4,997 209,674 
Hanmi Financial Corp. 1,435 30,106 
Heartland Financial U.S.A., Inc. 1,298 68,976 
Heritage Commerce Corp. 1,035 15,018 
Heritage Financial Corp., Washington 1,167 38,184 
Hilltop Holdings, Inc. 4,641 92,356 
Home Bancshares, Inc. 7,192 136,936 
Hope Bancorp, Inc. 5,564 80,567 
Horizon Bancorp, Inc. Indiana 1,873 31,391 
Huntington Bancshares, Inc. 55,022 788,465 
IBERIABANK Corp. 2,812 209,466 
Independent Bank Corp. 418 9,250 
Independent Bank Corp., Massachusetts 1,386 108,732 
Independent Bank Group, Inc. 853 49,397 
International Bancshares Corp. 2,344 90,713 
Investors Bancorp, Inc. 14,125 157,918 
JPMorgan Chase & Co. 171,407 18,686,791 
KeyCorp 52,686 956,778 
Lakeland Bancorp, Inc. 2,157 35,526 
Lakeland Financial Corp. 1,830 78,745 
LegacyTexas Financial Group, Inc. 2,288 88,157 
Live Oak Bancshares, Inc. 1,051 19,338 
Luther Burbank Corp. 172 1,663 
M&T Bank Corp. 7,463 1,234,455 
MB Financial, Inc. 4,348 193,008 
Merchants Bancorp/IN 115 2,645 
Metropolitan Bank Holding Corp. (a) 40 1,474 
Midland States Bancorp, Inc. 38 1,025 
National Bank Holdings Corp. 1,181 39,871 
National Commerce Corp. (a) 219 8,125 
NBT Bancorp, Inc. 2,145 78,271 
OFG Bancorp 2,166 37,017 
Old National Bancorp, Indiana 7,871 140,497 
Opus Bank 1,257 23,870 
Pacific Premier Bancorp, Inc. (a) 1,671 48,843 
PacWest Bancorp 6,934 281,659 
Park National Corp. 839 76,685 
Peapack-Gladstone Financial Corp. 331 8,934 
Peoples United Financial, Inc. 16,908 264,779 
Pinnacle Financial Partners, Inc. 3,859 201,826 
PNC Financial Services Group, Inc. 23,611 3,033,777 
Popular, Inc. 4,921 255,941 
Preferred Bank, Los Angeles 624 32,080 
Prosperity Bancshares, Inc. 3,270 212,648 
QCR Holdings, Inc. 349 12,714 
Regions Financial Corp. 56,717 962,487 
Renasant Corp. 2,764 96,408 
S&T Bancorp, Inc. 2,173 87,159 
Sandy Spring Bancorp, Inc. 1,481 52,650 
Seacoast Banking Corp., Florida (a) 2,012 52,936 
ServisFirst Bancshares, Inc. 1,938 69,729 
Signature Bank 2,570 282,443 
Simmons First National Corp. Class A 4,108 110,012 
South State Corp. 2,048 138,588 
Southside Bancshares, Inc. 1,780 56,390 
State Bank Financial Corp. 1,853 47,381 
Sterling Bancorp 11,772 211,661 
Stock Yards Bancorp, Inc. 767 24,322 
SunTrust Banks, Inc. 23,779 1,489,992 
SVB Financial Group (a) 2,582 612,528 
Synovus Financial Corp. 5,578 209,510 
TCF Financial Corp. 7,842 163,741 
Texas Capital Bancshares, Inc. (a) 2,276 148,463 
Tompkins Financial Corp. 466 34,079 
TowneBank 2,776 78,089 
Trico Bancshares 591 21,288 
TriState Capital Holdings, Inc. (a) 823 20,756 
Triumph Bancorp, Inc. (a) 808 28,975 
Trustmark Corp. 4,938 152,090 
U.S. Bancorp 77,759 4,064,463 
UMB Financial Corp. 2,471 157,773 
Umpqua Holdings Corp. 11,104 213,197 
Union Bankshares Corp. 2,376 81,117 
United Bankshares, Inc., West Virginia 6,106 202,536 
United Community Bank, Inc. 4,710 117,138 
Univest Corp. of Pennsylvania 1,023 25,534 
Valley National Bancorp 15,063 150,329 
Veritex Holdings, Inc. (a) 1,388 32,701 
Washington Trust Bancorp, Inc. 1,272 65,317 
Webster Financial Corp. 4,307 253,424 
Wells Fargo & Co. 219,154 11,665,567 
WesBanco, Inc. 1,946 78,035 
Westamerica Bancorp. 1,323 77,012 
Western Alliance Bancorp. (a) 4,849 233,916 
Wintrust Financial Corp. 2,563 195,147 
Zions Bancorporation 10,016 471,253 
  84,664,383 
Capital Markets - 2.7%   
Affiliated Managers Group, Inc. 3,034 344,844 
Ameriprise Financial, Inc. 7,254 922,999 
Arlington Asset Investment Corp. 467 3,927 
Artisan Partners Asset Management, Inc. 1,925 52,764 
B. Riley Financial, Inc. 357 6,872 
Bank of New York Mellon Corp. 50,811 2,404,885 
BGC Partners, Inc. Class A 11,129 117,856 
BlackRock, Inc. Class A 6,122 2,518,713 
Blucora, Inc. (a) 2,353 68,049 
Brighthouse Financial, Inc. (a) 4,591 181,941 
Cboe Global Markets, Inc. 5,708 644,148 
Charles Schwab Corp. 59,263 2,740,321 
CME Group, Inc. 16,811 3,080,448 
Cohen & Steers, Inc. 813 31,211 
Cowen Group, Inc. Class A (a) 1,675 24,790 
Diamond Hill Investment Group, Inc. 196 33,747 
E*TRADE Financial Corp. 13,324 658,472 
Eaton Vance Corp. (non-vtg.) 5,722 257,776 
Evercore, Inc. Class A 1,845 150,718 
FactSet Research Systems, Inc. 1,945 435,213 
Federated Investors, Inc. Class B (non-vtg.) 4,312 106,377 
Franklin Resources, Inc. 15,921 485,591 
Gain Capital Holdings, Inc. 375 2,865 
Goldman Sachs Group, Inc. 17,420 3,925,945 
Greenhill & Co., Inc. (b) 1,138 25,093 
Hamilton Lane, Inc. Class A 764 29,322 
Houlihan Lokey 1,039 42,786 
Interactive Brokers Group, Inc. 3,675 181,582 
IntercontinentalExchange, Inc. 28,881 2,224,992 
INTL FCStone, Inc. (a) 852 38,579 
Invesco Ltd. 19,718 428,078 
Investment Technology Group, Inc. 1,584 43,528 
Janus Henderson Group PLC 8,900 218,673 
Lazard Ltd. Class A 6,109 242,772 
Legg Mason, Inc. 4,530 127,837 
LPL Financial 4,638 285,701 
MarketAxess Holdings, Inc. 1,910 400,470 
Moelis & Co. Class A 1,499 60,500 
Moody's Corp. 8,289 1,205,884 
Morgan Stanley 69,155 3,157,617 
Morningstar, Inc. 1,018 127,046 
MSCI, Inc. 4,426 665,582 
Northern Trust Corp. 10,548 992,250 
Oppenheimer Holdings, Inc. Class A (non-vtg.) 168 5,168 
Piper Jaffray Companies 893 61,956 
PJT Partners, Inc. 685 31,058 
Raymond James Financial, Inc. 6,431 493,193 
S&P Global, Inc. 12,658 2,307,807 
SEI Investments Co. 6,996 373,936 
State Street Corp. 18,487 1,270,981 
Stifel Financial Corp. 3,747 171,313 
T. Rowe Price Group, Inc. 12,134 1,176,877 
TD Ameritrade Holding Corp. 13,334 689,634 
The NASDAQ OMX Group, Inc. 5,924 513,670 
Virtu Financial, Inc. Class A 1,992 47,250 
Virtus Investment Partners, Inc. 286 28,411 
Waddell & Reed Financial, Inc. Class A (b) 3,526 67,241 
Westwood Holdings Group, Inc. 188 7,962 
WisdomTree Investments, Inc. 4,766 37,032 
  36,982,253 
Consumer Finance - 0.7%   
Ally Financial, Inc. 21,937 557,419 
American Express Co. 35,726 3,670,132 
Capital One Financial Corp. 24,216 2,162,489 
Credit Acceptance Corp. (a)(b) 634 269,082 
Discover Financial Services 18,102 1,261,166 
Elevate Credit, Inc. (a) 204 869 
Encore Capital Group, Inc. (a) 888 22,564 
Enova International, Inc. (a) 1,277 30,201 
EZCORP, Inc. (non-vtg.) Class A (a)(b) 2,363 23,488 
First Cash Financial Services, Inc. 2,297 184,679 
Green Dot Corp. Class A (a) 2,264 171,475 
LendingClub Corp. (a) 16,396 52,959 
Navient Corp. 14,142 163,764 
Nelnet, Inc. Class A 788 44,357 
OneMain Holdings, Inc. (a) 3,328 94,915 
PRA Group, Inc. (a) 1,946 60,015 
Regional Management Corp. (a) 123 3,550 
Santander Consumer U.S.A. Holdings, Inc. 5,965 111,844 
SLM Corp. (a) 21,154 214,502 
Synchrony Financial 36,948 1,067,058 
World Acceptance Corp. (a) 222 22,531 
  10,189,059 
Diversified Financial Services - 1.7%   
Acushnet Holdings Corp. 2,806 68,551 
Berkshire Hathaway, Inc. Class B (a) 95,044 19,510,632 
Cannae Holdings, Inc. (a) 3,709 68,505 
Donnelley Financial Solutions, Inc. (a) 1,712 26,622 
FB Financial Corp. 326 11,892 
Granite Point Mortgage Trust, Inc. 2,115 39,360 
Jefferies Financial Group, Inc. 15,404 330,724 
Linde PLC 13,965 2,310,789 
On Deck Capital, Inc. (a) 1,793 12,372 
Rafael Holdings, Inc. (a) 178 1,449 
Victory Capital Holdings, Inc. (a) 222 1,732 
Voya Financial, Inc. 9,441 413,138 
  22,795,766 
Insurance - 2.6%   
AFLAC, Inc. 38,591 1,662,114 
Alleghany Corp. 806 484,148 
Allstate Corp. 17,722 1,696,350 
AMBAC Financial Group, Inc. (a) 1,829 37,641 
American Equity Investment Life Holding Co. 4,371 136,463 
American Financial Group, Inc. 3,428 342,903 
American International Group, Inc. 44,630 1,842,773 
American National Insurance Co. 560 69,014 
Amerisafe, Inc. 1,102 71,729 
AmTrust Financial Services, Inc. 4,120 59,081 
Aon PLC 12,366 1,931,322 
Arch Capital Group Ltd. (a) 19,853 563,230 
Argo Group International Holdings, Ltd. 1,466 90,320 
Arthur J. Gallagher & Co. 8,939 661,575 
Aspen Insurance Holdings Ltd. 3,078 128,907 
Assurant, Inc. 2,608 253,524 
Assured Guaranty Ltd. 5,530 221,089 
Athene Holding Ltd. (a) 3,878 177,302 
Axis Capital Holdings Ltd. 4,463 248,991 
Brown & Brown, Inc. 11,250 317,025 
Chubb Ltd. 22,879 2,857,816 
Cincinnati Financial Corp. 7,499 589,721 
CNO Financial Group, Inc. 8,640 163,296 
eHealth, Inc. (a) 634 21,784 
Employers Holdings, Inc. 1,459 67,056 
Enstar Group Ltd. (a) 483 87,713 
Erie Indemnity Co. Class A 812 105,308 
Everest Re Group Ltd. 2,024 440,949 
FBL Financial Group, Inc. Class A 458 31,593 
First American Financial Corp. 5,315 235,614 
FNF Group 13,333 445,989 
Genworth Financial, Inc. Class A (a) 23,027 98,556 
Greenlight Capital Re, Ltd. (a) 827 9,585 
Hanover Insurance Group, Inc. 2,010 223,874 
Hartford Financial Services Group, Inc. 17,985 816,879 
HCI Group, Inc. 193 8,428 
Health Insurance Innovations, Inc. (a) 519 25,379 
Heritage Insurance Holdings, Inc. 480 6,701 
Horace Mann Educators Corp. 1,620 63,634 
James River Group Holdings Ltd. 1,077 41,465 
Kemper Corp. 2,396 180,155 
Kinsale Capital Group, Inc. 1,087 64,905 
Lincoln National Corp. 10,891 655,529 
Loews Corp. 13,677 636,801 
Maiden Holdings Ltd. 4,427 15,539 
Markel Corp. (a) 687 751,056 
Marsh & McLennan Companies, Inc. 25,247 2,139,683 
MBIA, Inc. (a)(b) 4,254 42,115 
Mercury General Corp. 1,859 110,257 
MetLife, Inc. 52,465 2,161,033 
National General Holdings Corp. 3,998 111,384 
National Western Life Group, Inc. 153 41,200 
Navigators Group, Inc. 1,024 70,810 
Old Republic International Corp. 12,133 267,533 
Primerica, Inc. 2,241 245,927 
Principal Financial Group, Inc. 13,113 617,229 
ProAssurance Corp. 2,541 111,601 
Progressive Corp. 28,745 2,003,527 
Prudential Financial, Inc. 21,116 1,980,258 
Reinsurance Group of America, Inc. 3,179 452,594 
RenaissanceRe Holdings Ltd. 1,900 232,104 
RLI Corp. 2,059 152,222 
Safety Insurance Group, Inc. 582 48,469 
Selective Insurance Group, Inc. 2,943 190,854 
Stewart Information Services Corp. 1,085 44,789 
The Travelers Companies, Inc. 13,549 1,695,386 
Third Point Reinsurance Ltd. (a) 5,535 61,217 
Torchmark Corp. 5,214 441,417 
Trupanion, Inc. (a)(b) 1,083 27,357 
United Fire Group, Inc. 1,126 60,613 
United Insurance Holdings Corp. 518 10,215 
Universal Insurance Holdings, Inc. 1,376 57,764 
Unum Group 11,174 405,169 
W.R. Berkley Corp. 4,783 363,030 
White Mountains Insurance Group Ltd. 195 172,901 
Willis Group Holdings PLC 6,474 926,818 
  34,886,302 
Mortgage Real Estate Investment Trusts - 0.2%   
AG Mortgage Investment Trust, Inc. 745 12,889 
AGNC Investment Corp. 19,056 339,959 
Annaly Capital Management, Inc. 56,461 557,270 
Anworth Mortgage Asset Corp. 1,969 8,585 
Apollo Commercial Real Estate Finance, Inc. 4,033 75,457 
Arbor Realty Trust, Inc. (b) 2,347 28,352 
Ares Commercial Real Estate Corp. 791 11,446 
Armour Residential REIT, Inc. 1,738 37,854 
Blackstone Mortgage Trust, Inc. 4,903 165,427 
Capstead Mortgage Corp. 7,143 49,001 
Cherry Hill Mortgage Investment Corp. 157 2,812 
Chimera Investment Corp. 9,493 176,570 
Dynex Capital, Inc. 719 4,163 
Ellington Residential Mortgage REIT 61 644 
Exantas Capital Corp. 895 10,149 
Hannon Armstrong Sustainable Infrastructure Capital, Inc. 1,805 37,454 
Invesco Mortgage Capital, Inc. 6,801 102,559 
Ladder Capital Corp. Class A 3,767 63,436 
MFA Financial, Inc. 19,997 138,579 
New Residential Investment Corp. 15,902 284,328 
New York Mortgage Trust, Inc. (b) 6,793 41,709 
Orchid Island Capital, Inc. 1,066 6,972 
PennyMac Mortgage Investment Trust 3,102 59,900 
Redwood Trust, Inc. 3,764 61,805 
Starwood Property Trust, Inc. 13,146 285,531 
TPG RE Finance Trust, Inc. 173 3,429 
Two Harbors Investment Corp. 9,640 141,612 
Western Asset Mortgage Capital Corp. 931 9,282 
  2,717,174 
Real Estate Management & Development - 0.0%   
The RMR Group, Inc. 293 22,233 
Thrifts & Mortgage Finance - 0.2%   
Beneficial Bancorp, Inc. 4,488 70,147 
BofI Holding, Inc. (a) 2,875 87,285 
Capitol Federal Financial, Inc. 6,840 84,884 
Dime Community Bancshares, Inc. 1,007 16,233 
Essent Group Ltd. (a) 3,968 156,419 
Farmer Mac Class C (non-vtg.) 392 27,377 
First Defiance Financial Corp. 1,543 42,000 
Flagstar Bancorp, Inc. (a) 671 20,660 
HomeStreet, Inc. (a) 1,307 33,956 
Kearny Financial Corp. 4,418 57,169 
LendingTree, Inc. (a)(b) 400 80,676 
Meridian Bancorp, Inc. Maryland 2,314 36,654 
Meta Financial Group, Inc. 1,191 30,061 
MGIC Investment Corp. (a) 18,918 230,989 
New York Community Bancorp, Inc. 23,843 228,416 
NMI Holdings, Inc. (a) 2,895 61,200 
Northfield Bancorp, Inc. 2,234 29,422 
Northwest Bancshares, Inc. 5,420 87,479 
OceanFirst Financial Corp. 1,459 36,942 
Ocwen Financial Corp. (a) 3,922 13,727 
Oritani Financial Corp. 1,740 25,421 
PDL Community Bancorp 52 713 
PennyMac Financial Services, Inc. 707 14,133 
Provident Financial Services, Inc. 3,478 84,863 
Radian Group, Inc. 10,031 192,495 
Sterling Bancorp, Inc. 225 2,329 
TFS Financial Corp. 3,146 46,278 
Trustco Bank Corp., New York 5,323 39,869 
United Financial Bancorp, Inc. New 2,347 36,261 
Walker & Dunlop, Inc. 1,172 49,177 
Washington Federal, Inc. 4,779 134,577 
WSFS Financial Corp. 1,668 70,940 
  2,128,752 
TOTAL FINANCIALS  194,385,922 
HEALTH CARE - 14.5%   
Biotechnology - 2.8%   
AbbVie, Inc. 79,067 6,155,366 
Abeona Therapeutics, Inc. (a) 1,437 12,358 
ACADIA Pharmaceuticals, Inc. (a) 4,594 89,491 
Acceleron Pharma, Inc. (a) 2,022 102,657 
Achaogen, Inc. (a)(b) 573 2,206 
Achillion Pharmaceuticals, Inc. (a) 6,522 18,653 
Acorda Therapeutics, Inc. (a) 1,912 36,538 
Adamas Pharmaceuticals, Inc. (a)(b) 783 12,959 
Aduro Biotech, Inc. (a) 1,371 5,813 
Advaxis, Inc. (a) 215 121 
Agenus, Inc. (a) 1,397 2,221 
Agios Pharmaceuticals, Inc. (a) 2,691 169,694 
Aimmune Therapeutics, Inc. (a) 1,354 35,989 
Akebia Therapeutics, Inc. (a) 1,783 13,355 
Alder Biopharmaceuticals, Inc. (a) 2,274 28,880 
Alexion Pharmaceuticals, Inc. (a) 11,042 1,237,477 
Alkermes PLC (a) 7,592 309,981 
Alnylam Pharmaceuticals, Inc. (a) 4,019 323,248 
AMAG Pharmaceuticals, Inc. (a) 1,375 29,563 
Amgen, Inc. 36,046 6,949,308 
Amicus Therapeutics, Inc. (a) 8,655 96,763 
AnaptysBio, Inc. (a) 592 44,234 
Anavex Life Sciences Corp. (a) 732 1,764 
Apellis Pharmaceuticals, Inc. (a) 214 2,994 
Ardelyx, Inc. (a) 533 1,466 
Arena Pharmaceuticals, Inc. (a) 1,675 59,731 
Array BioPharma, Inc. (a) 9,374 151,859 
Arrowhead Pharmaceuticals, Inc. (a)(b) 4,478 56,960 
Atara Biotherapeutics, Inc. (a) 1,384 47,291 
Athersys, Inc. (a) 2,245 4,198 
Audentes Therapeutics, Inc. (a) 1,273 35,899 
AVEO Pharmaceuticals, Inc. (a) 4,272 10,466 
Bellicum Pharmaceuticals, Inc. (a) 523 2,129 
BioCryst Pharmaceuticals, Inc. (a) 4,123 30,180 
Biogen, Inc. (a) 10,491 3,192,097 
Biohaven Pharmaceutical Holding Co. Ltd. (a) 260 9,373 
BioMarin Pharmaceutical, Inc. (a) 8,760 807,409 
bluebird bio, Inc. (a) 2,500 286,750 
Blueprint Medicines Corp. (a) 1,903 115,645 
Calithera Biosciences, Inc. (a) 485 2,289 
Cara Therapeutics, Inc. (a)(b) 1,564 29,309 
Catalyst Pharmaceutical Partners, Inc. (a) 3,787 11,285 
Celgene Corp. (a) 39,298 2,813,737 
Celldex Therapeutics, Inc. (a) 762 240 
Clovis Oncology, Inc. (a) 2,142 24,911 
Coherus BioSciences, Inc. (a) 1,684 19,686 
Conatus Pharmaceuticals, Inc. (a)(b) 463 1,921 
Concert Pharmaceuticals, Inc. (a) 253 3,775 
Corbus Pharmaceuticals Holdings, Inc. (a)(b) 2,142 14,266 
Cue Biopharma, Inc. (a) 189 1,198 
Curis, Inc. (a) 156 254 
Cytokinetics, Inc. (a) 2,050 13,715 
CytomX Therapeutics, Inc. (a) 1,089 15,529 
Deciphera Pharmaceuticals, Inc. (a) 294 5,936 
Denali Therapeutics, Inc. (a)(b) 628 9,087 
Dynavax Technologies Corp. (a) 3,125 30,906 
Eagle Pharmaceuticals, Inc. (a) 421 20,730 
Editas Medicine, Inc. (a) 1,584 40,123 
Emergent BioSolutions, Inc. (a) 1,588 97,170 
Enanta Pharmaceuticals, Inc. (a) 598 46,142 
Epizyme, Inc. (a) 1,959 15,770 
Esperion Therapeutics, Inc. (a) 1,065 48,383 
Exact Sciences Corp. (a) 5,965 423,813 
Exelixis, Inc. (a) 14,299 198,327 
FibroGen, Inc. (a) 4,041 173,238 
Five Prime Therapeutics, Inc. (a) 1,805 21,913 
Flexion Therapeutics, Inc. (a) 1,426 19,308 
Genomic Health, Inc. (a) 1,143 81,965 
Geron Corp. (a) 5,258 8,045 
Gilead Sciences, Inc. 65,138 4,441,109 
Global Blood Therapeutics, Inc. (a) 2,032 71,303 
GlycoMimetics, Inc. (a) 606 7,623 
Halozyme Therapeutics, Inc. (a) 6,886 106,940 
Heron Therapeutics, Inc. (a) 2,751 76,368 
Idera Pharmaceuticals, Inc. (a) 416 2,775 
Immune Design Corp. (a) 569 819 
ImmunoGen, Inc. (a) 3,806 20,667 
Immunomedics, Inc. (a)(b) 5,031 113,348 
Incyte Corp. (a) 9,033 585,519 
Inovio Pharmaceuticals, Inc. (a) 5,941 29,289 
Insmed, Inc. (a) 3,383 49,392 
Insys Therapeutics, Inc. (a)(b) 461 3,932 
Intellia Therapeutics, Inc. (a) 960 16,301 
Intercept Pharmaceuticals, Inc. (a) 779 74,792 
Intrexon Corp. (a) 3,769 43,570 
Invitae Corp. (a) 1,592 22,590 
Ionis Pharmaceuticals, Inc. (a) 6,334 313,850 
Iovance Biotherapeutics, Inc. (a) 2,943 26,722 
Ironwood Pharmaceuticals, Inc. Class A (a) 6,868 89,971 
Jounce Therapeutics, Inc. (a) 38 154 
Kadmon Holdings, Inc. (a) 1,463 3,467 
Karyopharm Therapeutics, Inc. (a) 1,847 19,467 
Keryx Biopharmaceuticals, Inc. (a) 4,274 11,882 
Kura Oncology, Inc. (a) 801 8,707 
La Jolla Pharmaceutical Co. (a)(b) 750 12,225 
Lexicon Pharmaceuticals, Inc. (a) 1,880 14,720 
Ligand Pharmaceuticals, Inc. Class B (a) 994 163,821 
Loxo Oncology, Inc. (a) 1,072 163,652 
Macrogenics, Inc. (a) 1,447 23,818 
MannKind Corp. (a)(b) 1,674 3,063 
Merrimack Pharmaceuticals, Inc. (a) 2,107 8,196 
MiMedx Group, Inc. (a)(b) 4,775 27,791 
Minerva Neurosciences, Inc. (a) 1,180 12,945 
Mirati Therapeutics, Inc. (a) 1,405 52,505 
Momenta Pharmaceuticals, Inc. (a) 4,134 51,716 
Myriad Genetics, Inc. (a) 3,589 161,613 
Natera, Inc. (a) 1,297 28,482 
Neurocrine Biosciences, Inc. (a) 4,282 458,816 
NewLink Genetics Corp. (a) 428 809 
Novavax, Inc. (a)(b) 13,350 23,496 
Opko Health, Inc. (a)(b) 17,941 60,641 
Organovo Holdings, Inc. (a) 1,849 1,867 
PDL BioPharma, Inc. (a) 4,597 11,447 
Portola Pharmaceuticals, Inc. (a) 3,654 71,947 
Progenics Pharmaceuticals, Inc. (a) 2,639 13,221 
Prothena Corp. PLC (a) 1,401 17,372 
PTC Therapeutics, Inc. (a) 1,807 69,606 
Puma Biotechnology, Inc. (a) 1,720 63,726 
Radius Health, Inc. (a) 1,643 26,009 
Regeneron Pharmaceuticals, Inc. (a) 3,858 1,308,788 
REGENXBIO, Inc. (a) 1,327 88,471 
Repligen Corp. (a) 1,817 98,518 
Retrophin, Inc. (a) 1,625 41,698 
Rigel Pharmaceuticals, Inc. (a) 5,325 15,283 
Sage Therapeutics, Inc. (a) 2,152 276,919 
Sangamo Therapeutics, Inc. (a) 3,629 45,979 
Sarepta Therapeutics, Inc. (a)(b) 3,047 407,567 
Savara, Inc. (a) 470 4,230 
Seattle Genetics, Inc. (a) 5,289 296,872 
Selecta Biosciences, Inc. (a) 165 848 
Seres Therapeutics, Inc. (a)(b) 359 2,466 
Solid Biosciences, Inc. (a) 261 8,352 
Sorrento Therapeutics, Inc. (a) 2,952 9,417 
Spark Therapeutics, Inc. (a) 1,705 76,708 
Spectrum Pharmaceuticals, Inc. (a) 5,070 60,333 
Stemline Therapeutics, Inc. (a) 1,893 28,357 
Syndax Pharmaceuticals, Inc. (a) 359 1,727 
Synergy Pharmaceuticals, Inc. (a)(b) 9,702 4,043 
Syros Pharmaceuticals, Inc. (a) 369 2,428 
TESARO, Inc. (a) 1,910 55,161 
TG Therapeutics, Inc. (a) 2,704 12,303 
Tocagen, Inc. (a) 119 1,245 
Ultragenyx Pharmaceutical, Inc. (a) 2,174 105,330 
United Therapeutics Corp. (a) 2,155 238,903 
Vanda Pharmaceuticals, Inc. (a) 1,761 33,406 
Verastem, Inc. (a)(b) 1,670 8,467 
Vericel Corp. (a) 1,283 14,305 
Vertex Pharmaceuticals, Inc. (a) 12,590 2,133,501 
Voyager Therapeutics, Inc. (a) 790 10,720 
Xencor, Inc. (a) 2,083 68,156 
ZIOPHARM Oncology, Inc. (a)(b) 6,325 12,524 
  37,843,143 
Health Care Equipment & Supplies - 3.1%   
Abbott Laboratories 85,935 5,924,359 
Abiomed, Inc. (a) 2,054 700,825 
Accuray, Inc. (a) 2,345 10,529 
Align Technology, Inc. (a) 3,596 795,435 
Angiodynamics, Inc. (a) 1,891 38,633 
Anika Therapeutics, Inc. (a) 705 25,211 
Antares Pharma, Inc. (a) 6,751 20,185 
Atricure, Inc. (a) 1,863 59,262 
Atrion Corp. 62 42,295 
Avanos Medical, Inc. (a) 2,141 121,181 
AxoGen, Inc. (a) 1,261 47,023 
Baxter International, Inc. 24,797 1,550,060 
Becton, Dickinson & Co. 13,064 3,011,252 
Boston Scientific Corp. (a) 68,045 2,459,146 
Cantel Medical Corp. 1,823 144,290 
Cardiovascular Systems, Inc. (a) 1,689 47,376 
Cerus Corp. (a) 4,751 31,832 
CONMED Corp. 1,033 69,655 
Cryolife, Inc. (a) 2,091 64,779 
Cutera, Inc. (a) 655 13,297 
Danaher Corp. 30,183 3,000,190 
Dentsply Sirona, Inc. 11,465 397,033 
DexCom, Inc. (a) 4,262 565,866 
Edwards Lifesciences Corp. (a) 10,528 1,553,933 
Endologix, Inc. (a) 1,619 1,975 
Genmark Diagnostics, Inc. (a) 2,683 14,300 
Glaukos Corp. (a) 1,461 84,650 
Globus Medical, Inc. (a) 3,556 187,935 
Haemonetics Corp. (a) 2,509 262,115 
Heska Corp. (a) 377 37,783 
Hill-Rom Holdings, Inc. 3,464 291,253 
Hologic, Inc. (a) 13,377 521,569 
ICU Medical, Inc. (a) 711 181,113 
IDEXX Laboratories, Inc. (a) 4,401 933,540 
Inogen, Inc. (a) 833 157,912 
Insulet Corp. (a) 2,992 263,924 
Integer Holdings Corp. (a) 1,350 100,535 
Integra LifeSciences Holdings Corp. (a) 3,112 166,710 
Intuitive Surgical, Inc. (a) 5,566 2,900,888 
Invacare Corp. 1,670 21,576 
iRhythm Technologies, Inc. (a) 1,006 77,724 
K2M Group Holdings, Inc. (a) 2,080 56,950 
Lantheus Holdings, Inc. (a) 1,133 15,828 
LeMaitre Vascular, Inc. 605 16,154 
LivaNova PLC (a) 2,118 237,195 
Masimo Corp. (a) 2,490 287,844 
Medtronic PLC 66,717 5,992,521 
Meridian Bioscience, Inc. 2,438 39,520 
Merit Medical Systems, Inc. (a) 2,374 135,603 
Natus Medical, Inc. (a) 1,811 54,113 
Neogen Corp. (a) 2,614 158,722 
Nevro Corp. (a) 1,411 68,800 
NuVasive, Inc. (a) 2,476 139,077 
NxStage Medical, Inc. (a) 3,757 106,624 
OraSure Technologies, Inc. (a) 2,350 32,665 
Orthofix International NV (a) 815 49,568 
Penumbra, Inc. (a) 1,480 201,280 
Pulse Biosciences, Inc. (a) 89 1,140 
Quidel Corp. (a) 1,341 86,307 
ResMed, Inc. 6,981 739,428 
Rockwell Medical Technologies, Inc. (a) 915 3,733 
Sientra, Inc. (a) 513 10,563 
Staar Surgical Co. (a) 1,221 48,974 
Steris PLC 4,265 466,207 
Stryker Corp. 15,912 2,581,245 
Tactile Systems Technology, Inc. (a) 763 49,961 
Teleflex, Inc. 2,222 534,924 
The Cooper Companies, Inc. 2,442 630,793 
Varex Imaging Corp. (a) 1,518 39,407 
Varian Medical Systems, Inc. (a) 4,533 541,104 
ViewRay, Inc. (a)(b) 1,397 12,084 
West Pharmaceutical Services, Inc. 3,680 389,786 
Wright Medical Group NV (a) 5,467 147,500 
Zimmer Biomet Holdings, Inc. 10,041 1,140,557 
  41,915,326 
Health Care Providers & Services - 3.1%   
Acadia Healthcare Co., Inc. (a)(b) 3,886 161,269 
Aceto Corp. 537 1,101 
Aetna, Inc. 16,017 3,177,773 
Amedisys, Inc. (a) 1,460 160,600 
American Renal Associates Holdings, Inc. (a) 527 10,166 
AmerisourceBergen Corp. 8,125 715,000 
AMN Healthcare Services, Inc. (a) 2,209 111,820 
Anthem, Inc. 12,700 3,499,739 
BioScrip, Inc. (a) 3,114 8,346 
BioTelemetry, Inc. (a) 1,725 100,223 
Brookdale Senior Living, Inc. (a) 10,235 91,399 
Capital Senior Living Corp. (a) 1,321 11,889 
Cardinal Health, Inc. 15,618 790,271 
Centene Corp. (a) 8,576 1,117,624 
Chemed Corp. 866 263,550 
Cigna Corp. 12,266 2,622,593 
Community Health Systems, Inc. (a) 5,579 17,630 
Corvel Corp. (a) 539 31,240 
Cross Country Healthcare, Inc. (a) 834 7,364 
CVS Health Corp. 50,216 3,635,136 
DaVita HealthCare Partners, Inc. (a) 7,362 495,757 
Diplomat Pharmacy, Inc. (a) 2,555 50,691 
Express Scripts Holding Co. (a) 28,014 2,716,518 
G1 Therapeutics, Inc. (a) 354 14,164 
HCA Holdings, Inc. 14,026 1,872,892 
HealthEquity, Inc. (a) 2,416 221,789 
HealthSouth Corp. 4,786 322,098 
Henry Schein, Inc. (a) 7,813 648,479 
Humana, Inc. 7,071 2,265,619 
Laboratory Corp. of America Holdings (a) 4,972 798,255 
LHC Group, Inc. (a) 711 65,007 
LifePoint Hospitals, Inc. (a) 1,892 122,715 
Magellan Health Services, Inc. (a) 1,133 73,713 
McKesson Corp. 10,426 1,300,748 
MEDNAX, Inc. (a) 4,590 189,521 
Molina Healthcare, Inc. (a) 2,190 277,626 
National Healthcare Corp. 853 67,839 
National Vision Holdings, Inc. 992 41,099 
OptiNose, Inc. 135 1,428 
Owens & Minor, Inc. 2,381 18,810 
Patterson Companies, Inc. 4,045 91,336 
Premier, Inc. (a) 2,714 122,130 
Providence Service Corp. (a) 606 40,051 
Quest Diagnostics, Inc. 6,704 630,913 
RadNet, Inc. (a) 1,502 22,230 
Select Medical Holdings Corp. (a) 6,461 107,123 
Surgery Partners, Inc. (a) 774 10,519 
Tenet Healthcare Corp. (a) 4,022 103,486 
The Ensign Group, Inc. 2,405 89,081 
Tivity Health, Inc. (a) 1,344 46,247 
Triple-S Management Corp. (a) 1,203 20,643 
U.S. Physical Therapy, Inc. 770 82,790 
UnitedHealth Group, Inc. 47,851 12,505,859 
Universal Health Services, Inc. Class B 4,332 526,598 
Wellcare Health Plans, Inc. (a) 2,244 619,322 
  43,117,829 
Health Care Technology - 0.2%   
Allscripts Healthcare Solutions, Inc. (a) 8,153 97,102 
athenahealth, Inc. (a) 2,001 255,208 
Castlight Health, Inc. Class B (a) 1,362 3,364 
Cerner Corp. (a) 15,501 887,897 
Computer Programs & Systems, Inc. 260 6,500 
Evolent Health, Inc. (a) 2,781 61,738 
HealthStream, Inc. 1,360 35,782 
HMS Holdings Corp. (a) 3,895 112,254 
Inovalon Holdings, Inc. Class A (a) 2,549 23,986 
Medidata Solutions, Inc. (a) 3,004 211,181 
Nextgen Healthcare, Inc. (a) 2,502 36,955 
Omnicell, Inc. (a) 1,957 138,360 
Tabula Rasa HealthCare, Inc. (a) 657 48,539 
Teladoc Health, Inc. (a) 2,601 180,353 
Veeva Systems, Inc. Class A (a) 5,666 517,589 
Vocera Communications, Inc. (a) 1,695 58,833 
  2,675,641 
Life Sciences Tools & Services - 0.9%   
Accelerate Diagnostics, Inc. (a)(b) 1,525 22,784 
Agilent Technologies, Inc. 16,046 1,039,620 
Bio-Rad Laboratories, Inc. Class A (a) 1,040 283,764 
Bio-Techne Corp. 1,810 303,573 
Bruker Corp. 5,326 166,864 
Cambrex Corp. (a) 1,684 89,740 
Charles River Laboratories International, Inc. (a) 2,516 306,499 
Codexis, Inc. (a) 1,655 25,768 
Enzo Biochem, Inc. (a) 2,836 9,416 
Fluidigm Corp. (a) 530 3,816 
Illumina, Inc. (a) 7,230 2,249,615 
Luminex Corp. 2,325 66,890 
Medpace Holdings, Inc. (a) 450 23,445 
Mettler-Toledo International, Inc. (a) 1,281 700,476 
Nanostring Technologies, Inc. (a) 833 12,837 
NeoGenomics, Inc. (a) 3,294 60,741 
Pacific Biosciences of California, Inc. (a) 3,685 16,398 
PerkinElmer, Inc. 5,373 464,657 
PRA Health Sciences, Inc. (a) 2,551 247,115 
Quintiles Transnational Holdings, Inc. (a) 7,206 885,834 
Syneos Health, Inc. (a) 2,760 125,939 
Thermo Fisher Scientific, Inc. 19,724 4,608,513 
Waters Corp. (a) 3,902 740,170 
  12,454,474 
Pharmaceuticals - 4.4%   
Aclaris Therapeutics, Inc. (a) 1,020 12,128 
Adamis Pharmaceuticals Corp.(a) 533 1,364 
Aerie Pharmaceuticals, Inc. (a) 1,776 94,448 
Akcea Therapeutics, Inc. (a)(b) 598 13,347 
Akorn, Inc. (a) 5,487 36,598 
Allergan PLC 16,507 2,608,271 
Amneal Pharmaceuticals, Inc. (a)(b) 3,767 69,501 
Amphastar Pharmaceuticals, Inc. (a) 1,786 32,059 
ANI Pharmaceuticals, Inc. (a) 488 23,683 
Aratana Therapeutics, Inc. (a) 645 3,831 
Assembly Biosciences, Inc. (a) 925 21,164 
Assertio Therapeutics, Inc. (a) 2,649 12,861 
Biodelivery Sciences International, Inc. (a) 1,060 3,933 
Bristol-Myers Squibb Co. 81,196 4,103,646 
Catalent, Inc. (a) 6,538 263,743 
Clementia Pharmaceuticals, Inc. (a) 149 1,937 
Collegium Pharmaceutical, Inc. (a) 924 14,830 
Corcept Therapeutics, Inc. (a) 5,249 61,676 
Corium International, Inc. (a)(b) 1,540 19,481 
CymaBay Therapeutics, Inc. (a) 2,340 24,687 
Dermira, Inc. (a) 1,435 18,009 
Eli Lilly & Co. 47,995 5,204,578 
Endo International PLC (a) 10,378 175,803 
Horizon Pharma PLC (a) 8,047 146,536 
Innoviva, Inc. (a) 4,874 68,041 
Intersect ENT, Inc. (a) 1,072 30,080 
Intra-Cellular Therapies, Inc. (a) 2,593 44,029 
Jazz Pharmaceuticals PLC (a) 2,983 473,760 
Johnson & Johnson 132,894 18,603,831 
Kala Pharmaceuticals, Inc. (a) 101 732 
Lannett Co., Inc. (a) 535 1,958 
Mallinckrodt PLC (a) 4,845 121,416 
Melinta Therapeutics, Inc. (a) 346 910 
Merck & Co., Inc. 135,371 9,964,659 
Mylan NV (a) 26,240 820,000 
MyoKardia, Inc. (a) 858 45,423 
Nektar Therapeutics (a) 7,781 300,969 
Neos Therapeutics, Inc. (a) 338 1,058 
Ocular Therapeutix, Inc. (a) 540 2,678 
Omeros Corp. (a) 1,889 28,845 
Otonomy, Inc. (a) 390 909 
Pacira Pharmaceuticals, Inc. (a) 1,951 95,384 
Paratek Pharmaceuticals, Inc. (a)(b) 1,033 7,696 
Perrigo Co. PLC 6,853 481,766 
Pfizer, Inc. 294,853 12,696,370 
Phibro Animal Health Corp. Class A 845 36,267 
Prestige Brands Holdings, Inc. (a) 2,571 92,967 
Reata Pharmaceuticals, Inc. (a) 631 37,185 
Revance Therapeutics, Inc. (a) 1,520 33,090 
Rhythm Pharmaceuticals, Inc. 139 3,893 
Supernus Pharmaceuticals, Inc. (a) 2,402 114,239 
Teligent, Inc. (a) 801 2,571 
Tetraphase Pharmaceuticals, Inc. (a) 972 1,993 
The Medicines Company (a) 3,381 78,642 
TherapeuticsMD, Inc. (a)(b) 7,494 36,646 
Theravance Biopharma, Inc. (a) 2,229 54,098 
WAVE Life Sciences (a) 548 25,586 
Zoetis, Inc. Class A 24,355 2,195,603 
Zogenix, Inc. (a) 1,772 73,999 
Zynerba Pharmaceuticals, Inc. (a) 184 968 
  59,546,375 
TOTAL HEALTH CARE  197,552,788 
INDUSTRIALS - 10.0%   
Aerospace & Defense - 2.5%   
AAR Corp. 1,631 77,603 
Aerojet Rocketdyne Holdings, Inc. (a) 3,502 123,691 
AeroVironment, Inc. (a) 990 89,070 
Arconic, Inc. 21,591 438,945 
Astronics Corp. (a) 905 26,390 
Axon Enterprise, Inc. (a) 2,584 159,484 
BWX Technologies, Inc. 4,943 288,968 
Cubic Corp. 1,290 84,637 
Curtiss-Wright Corp. 2,258 247,161 
Ducommun, Inc. (a) 348 12,932 
Engility Holdings, Inc. (a) 730 22,652 
Esterline Technologies Corp. (a) 1,287 151,042 
General Dynamics Corp. 13,727 2,369,006 
Harris Corp. 5,951 884,973 
HEICO Corp. 1,925 161,373 
HEICO Corp. Class A 3,649 243,242 
Hexcel Corp. 4,423 258,834 
Huntington Ingalls Industries, Inc. 2,264 494,639 
KEYW Holding Corp. (a) 1,796 14,063 
Kratos Defense & Security Solutions, Inc. (a) 4,091 51,260 
L3 Technologies, Inc. 3,831 725,860 
Lockheed Martin Corp. 12,337 3,625,227 
Mercury Systems, Inc. (a) 2,206 103,373 
Moog, Inc. Class A 1,633 116,841 
National Presto Industries, Inc. 192 23,937 
Northrop Grumman Corp. 8,626 2,259,581 
Raytheon Co. 14,311 2,504,997 
Rockwell Collins, Inc. 8,050 1,030,561 
Sparton Corp. (a) 156 1,931 
Spirit AeroSystems Holdings, Inc. Class A 5,773 484,990 
Teledyne Technologies, Inc. (a) 1,828 404,500 
Textron, Inc. 13,224 709,203 
The Boeing Co. 27,691 9,826,428 
TransDigm Group, Inc. (a) 2,402 793,261 
Triumph Group, Inc. 2,802 51,137 
United Technologies Corp. 36,676 4,555,526 
Vectrus, Inc. (a) 387 10,372 
Wesco Aircraft Holdings, Inc. (a) 2,460 25,043 
  33,452,733 
Air Freight & Logistics - 0.6%   
Air Transport Services Group, Inc. (a) 2,690 52,724 
Atlas Air Worldwide Holdings, Inc. (a) 1,068 55,130 
C.H. Robinson Worldwide, Inc. 6,961 619,738 
Echo Global Logistics, Inc. (a) 1,038 26,687 
Expeditors International of Washington, Inc. 8,799 591,117 
FedEx Corp. 12,257 2,700,707 
Forward Air Corp. 1,525 91,485 
Hub Group, Inc. Class A (a) 1,473 67,493 
United Parcel Service, Inc. Class B 33,986 3,620,868 
XPO Logistics, Inc. (a) 4,806 429,560 
  8,255,509 
Airlines - 0.4%   
Alaska Air Group, Inc. 6,010 369,134 
Allegiant Travel Co. 551 62,891 
American Airlines Group, Inc. 21,493 753,974 
Delta Air Lines, Inc. 32,606 1,784,526 
Hawaiian Holdings, Inc. 2,299 79,568 
JetBlue Airways Corp. (a) 16,279 272,348 
SkyWest, Inc. 2,645 151,532 
Southwest Airlines Co. 27,031 1,327,222 
Spirit Airlines, Inc. (a) 3,500 181,650 
United Continental Holdings, Inc. (a) 12,360 1,056,904 
  6,039,749 
Building Products - 0.4%   
A.O. Smith Corp. 7,908 360,051 
AAON, Inc. 1,991 68,670 
Advanced Drain Systems, Inc. Del 1,591 44,214 
Allegion PLC 4,982 427,107 
American Woodmark Corp. (a) 620 37,473 
Apogee Enterprises, Inc. 1,485 53,609 
Armstrong World Industries, Inc. (a) 2,581 159,377 
Builders FirstSource, Inc. (a) 5,285 65,428 
Continental Building Products, Inc. (a) 1,492 41,493 
COVIA Corp. (a) 1,336 7,722 
CSW Industrials, Inc. (a) 826 38,021 
Fortune Brands Home & Security, Inc. 7,900 354,157 
GCP Applied Technologies, Inc. (a) 4,119 106,970 
Gibraltar Industries, Inc. (a) 1,325 47,223 
GMS, Inc. (a) 1,355 22,276 
Griffon Corp. 1,464 17,744 
Insteel Industries, Inc. 800 20,896 
Jeld-Wen Holding, Inc. (a) 2,854 46,406 
Johnson Controls International PLC 46,452 1,485,070 
Lennox International, Inc. 1,887 397,949 
Masco Corp. 16,075 482,250 
Masonite International Corp. (a) 1,219 67,520 
NCI Building Systems, Inc. (a) 2,000 24,500 
Owens Corning 5,763 272,417 
Patrick Industries, Inc. (a) 1,161 50,515 
PGT, Inc. (a) 2,775 56,222 
Quanex Building Products Corp. 1,570 23,267 
Resideo Technologies, Inc. (a) 6,091 128,216 
Simpson Manufacturing Co. Ltd. 2,137 121,980 
Trex Co., Inc. (a) 2,955 181,142 
Universal Forest Products, Inc. 3,573 101,009 
USG Corp. (a) 3,987 168,331 
  5,479,225 
Commercial Services & Supplies - 0.5%   
ABM Industries, Inc. 3,144 96,678 
ACCO Brands Corp. 6,638 53,569 
ADS Waste Holdings, Inc. (a) 1,679 45,484 
Brady Corp. Class A 2,165 87,228 
Casella Waste Systems, Inc. Class A (a) 2,110 68,702 
CECO Environmental Corp. (a) 573 4,263 
Cintas Corp. 4,251 773,129 
Clean Harbors, Inc. (a) 2,439 165,950 
Copart, Inc. (a) 9,984 488,317 
Covanta Holding Corp. 8,036 118,049 
Deluxe Corp. 2,682 126,617 
Ennis, Inc. 1,028 19,902 
Essendant, Inc. 1,479 18,842 
Evoqua Water Technologies Corp. (a) 1,140 10,944 
Healthcare Services Group, Inc. 3,426 139,061 
Heritage-Crystal Clean, Inc. (a) 288 6,621 
Herman Miller, Inc. 2,905 95,720 
HNI Corp. 2,433 92,186 
Hudson Technologies, Inc. (a) 632 524 
Interface, Inc. 2,548 41,507 
KAR Auction Services, Inc. 6,955 396,018 
Kimball International, Inc. Class B 2,781 45,775 
Knoll, Inc. 2,521 50,042 
LSC Communications, Inc. 1,322 12,466 
Matthews International Corp. Class A 1,418 59,017 
McGrath RentCorp. 927 49,493 
Mobile Mini, Inc. 2,389 98,236 
Msa Safety, Inc. 1,740 181,726 
Multi-Color Corp. 595 31,630 
PICO Holdings, Inc. 406 4,637 
Pitney Bowes, Inc. 7,790 51,570 
Quad/Graphics, Inc. 1,422 21,941 
R.R. Donnelley & Sons Co. 3,029 17,780 
Republic Services, Inc. 11,195 813,653 
Rollins, Inc. 5,045 298,664 
SP Plus Corp. (a) 878 28,061 
Steelcase, Inc. Class A 4,382 72,741 
Stericycle, Inc. (a) 4,319 215,820 
Team, Inc. (a) 1,100 21,890 
Tetra Tech, Inc. 2,650 175,006 
The Brink's Co. 2,364 156,780 
U.S. Ecology, Inc. 1,123 78,531 
UniFirst Corp. 752 112,274 
Viad Corp. 761 36,444 
VSE Corp. 232 7,276 
Waste Management, Inc. 19,676 1,760,412 
  7,251,176 
Construction & Engineering - 0.2%   
AECOM (a) 7,831 228,195 
Aegion Corp. (a) 1,684 32,602 
Argan, Inc. 571 25,135 
Comfort Systems U.S.A., Inc. 1,929 103,163 
Dycom Industries, Inc. (a) 1,472 99,919 
EMCOR Group, Inc. 2,749 195,124 
Fluor Corp. 6,826 299,388 
Goldfield Corp. 2,276 8,421 
Granite Construction, Inc. 1,801 82,342 
Great Lakes Dredge & Dock Corp. (a) 1,475 8,570 
Jacobs Engineering Group, Inc. 5,888 442,130 
KBR, Inc. 7,563 149,596 
Keane Group, Inc. (a) 1,899 23,870 
MasTec, Inc. (a) 3,182 138,449 
MYR Group, Inc. (a) 797 26,612 
NV5 Holdings, Inc. (a) 362 28,261 
Primoris Services Corp. 1,822 38,572 
Quanta Services, Inc. (a) 8,221 256,495 
Sterling Construction Co., Inc. (a) 930 10,565 
Tutor Perini Corp. (a) 1,862 28,861 
Valmont Industries, Inc. 1,184 147,183 
  2,373,453 
Electrical Equipment - 0.6%   
Acuity Brands, Inc. 2,105 264,472 
AMETEK, Inc. 11,525 773,097 
AZZ, Inc. 1,284 56,945 
Babcock & Wilcox Enterprises, Inc. (a) 124 121 
Eaton Corp. PLC 21,908 1,570,146 
Emerson Electric Co. 31,899 2,165,304 
Encore Wire Corp. 817 36,111 
Energous Corp. (a) 389 3,128 
EnerSys 2,358 187,626 
Fortive Corp. 15,132 1,123,551 
FuelCell Energy, Inc. (a) 1,242 1,050 
Generac Holdings, Inc. (a) 2,954 149,856 
Hubbell, Inc. Class B 2,768 281,506 
Plug Power, Inc. (a)(b) 12,226 22,618 
Powell Industries, Inc. 194 5,657 
Regal Beloit Corp. 2,107 151,072 
Rockwell Automation, Inc. 6,314 1,040,105 
Sensata Technologies, Inc. PLC (a) 8,839 414,549 
Sunrun, Inc. (a) 3,704 45,411 
Thermon Group Holdings, Inc. (a) 1,222 26,371 
TPI Composites, Inc. (a) 578 14,600 
Vivint Solar, Inc. (a) 480 2,491 
  8,335,787 
Industrial Conglomerates - 1.3%   
3M Co. 29,528 5,617,997 
Carlisle Companies, Inc. 2,999 289,673 
General Electric Co. 429,777 4,340,748 
Honeywell International, Inc. 37,595 5,444,508 
ITT, Inc. 4,634 234,017 
Raven Industries, Inc. 1,604 69,742 
Roper Technologies, Inc. 5,097 1,441,941 
  17,438,626 
Machinery - 1.7%   
Actuant Corp. Class A 2,686 64,061 
AGCO Corp. 3,463 194,067 
Alamo Group, Inc. 467 40,031 
Albany International Corp. Class A 1,557 108,959 
Allison Transmission Holdings, Inc. 6,606 291,192 
Altra Industrial Motion Corp. 1,660 53,568 
American Railcar Industries, Inc. 439 30,690 
Apergy Corp. (a) 3,918 152,763 
Astec Industries, Inc. 694 26,101 
Barnes Group, Inc. 2,337 132,274 
Briggs & Stratton Corp. 1,737 25,239 
Cactus, Inc. (a) 1,016 33,995 
Caterpillar, Inc. 29,514 3,580,638 
Chart Industries, Inc. (a) 1,517 103,232 
CIRCOR International, Inc. 858 27,894 
Colfax Corp. (a) 5,329 149,372 
Columbus McKinnon Corp. (NY Shares) 864 31,735 
Commercial Vehicle Group, Inc. (a) 519 3,472 
Crane Co. 2,895 251,981 
Cummins, Inc. 7,642 1,044,585 
Deere & Co. 15,880 2,150,787 
Donaldson Co., Inc. 6,569 336,858 
Douglas Dynamics, Inc. 1,420 61,614 
Dover Corp. 7,552 625,608 
Energy Recovery, Inc. (a)(b) 1,243 9,323 
EnPro Industries, Inc. 866 53,865 
ESCO Technologies, Inc. 1,029 62,995 
ExOne Co. (a) 172 1,135 
Federal Signal Corp. 3,588 78,900 
Flowserve Corp. 6,745 309,596 
Franklin Electric Co., Inc. 1,711 72,581 
FreightCar America, Inc. (a) 223 3,189 
Gardner Denver Holdings, Inc. (a) 3,748 101,421 
Global Brass & Copper Holdings, Inc. 947 29,944 
Gorman-Rupp Co. 1,277 44,057 
Graco, Inc. 8,175 332,150 
Greenbrier Companies, Inc. 1,256 59,597 
Harsco Corp. (a) 4,073 111,885 
Hillenbrand, Inc. 3,429 164,249 
Hyster-Yale Materials Handling Class A 489 29,560 
IDEX Corp. 3,844 487,496 
Illinois Tool Works, Inc. 15,286 1,950,035 
Ingersoll-Rand PLC 12,352 1,185,051 
John Bean Technologies Corp. 1,598 166,144 
Kadant, Inc. 803 79,256 
Kennametal, Inc. 3,989 141,410 
Lincoln Electric Holdings, Inc. 3,475 281,162 
Lindsay Corp. 448 42,838 
Lydall, Inc. (a) 974 29,093 
Manitowoc Co., Inc. (a) 1,489 27,219 
Meritor, Inc. (a) 4,684 79,581 
Middleby Corp. (a)(b) 2,759 309,836 
Milacron Holdings Corp. (a) 3,614 50,596 
Mueller Industries, Inc. 2,491 60,656 
Mueller Water Products, Inc. Class A 7,999 82,070 
Navistar International Corp. New (a) 3,430 114,871 
NN, Inc. 1,341 15,556 
Nordson Corp. 2,672 327,774 
Oshkosh Corp. 4,128 231,746 
PACCAR, Inc. 17,320 990,877 
Parker Hannifin Corp. 6,525 989,386 
Pentair PLC 8,488 340,793 
ProPetro Holding Corp. (a) 3,334 58,845 
Proto Labs, Inc. (a) 1,303 155,643 
RBC Bearings, Inc. (a) 1,316 194,347 
Rexnord Corp. (a) 5,352 143,487 
Snap-On, Inc. 2,806 431,956 
Spartan Motors, Inc. 1,648 11,091 
SPX Corp. (a) 1,577 46,238 
SPX Flow, Inc. (a) 2,347 80,338 
Standex International Corp. 713 57,839 
Stanley Black & Decker, Inc. 7,541 878,677 
Sun Hydraulics Corp. 1,149 53,314 
Tennant Co. 720 44,006 
Terex Corp. 3,957 132,124 
Timken Co. 3,354 132,651 
Titan International, Inc. 2,028 14,318 
Toro Co. 5,143 289,705 
TriMas Corp. (a) 2,153 63,406 
Trinity Industries, Inc. 7,552 215,610 
Wabash National Corp. 2,660 40,166 
WABCO Holdings, Inc. (a) 2,450 263,253 
Wabtec Corp. 4,248 348,421 
Watts Water Technologies, Inc. Class A 1,112 77,896 
Woodward, Inc. 2,505 184,468 
Xylem, Inc. 8,753 574,022 
  23,460,430 
Marine - 0.0%   
Eagle Bulk Shipping, Inc. (a) 473 2,360 
Kirby Corp. (a) 2,733 196,612 
Matson, Inc. 2,590 90,857 
  289,829 
Professional Services - 0.5%   
Acacia Research Corp. (a) 4,057 13,307 
Asgn, Inc. (a) 2,338 156,833 
Barrett Business Services, Inc. 286 17,995 
CBIZ, Inc. (a) 2,487 55,162 
CoStar Group, Inc. (a) 1,786 645,496 
CRA International, Inc. 168 7,081 
Dun & Bradstreet Corp. 1,786 254,112 
Equifax, Inc. 6,009 609,553 
Exponent, Inc. 2,489 125,595 
Forrester Research, Inc. 245 9,869 
FTI Consulting, Inc. (a) 1,971 136,216 
Heidrick & Struggles International, Inc. 862 29,748 
Huron Consulting Group, Inc. (a) 905 49,313 
ICF International, Inc. 1,301 95,806 
IHS Markit Ltd. (a) 17,784 934,194 
InnerWorkings, Inc. (a) 1,754 12,611 
Insperity, Inc. 1,960 215,306 
Kelly Services, Inc. Class A (non-vtg.) 1,266 29,738 
Kforce, Inc. 1,361 41,946 
Korn/Ferry International 2,692 121,517 
Manpower, Inc. 3,413 260,378 
MISTRAS Group, Inc. (a) 434 8,637 
Navigant Consulting, Inc. 1,776 38,362 
Nielsen Holdings PLC 16,438 427,059 
Resources Connection, Inc. 1,400 22,848 
Robert Half International, Inc. 6,158 372,744 
TransUnion Holding Co., Inc. 7,225 475,044 
TriNet Group, Inc. (a) 2,381 111,883 
TrueBlue, Inc. (a) 2,188 51,046 
Verisk Analytics, Inc. (a) 7,672 919,412 
WageWorks, Inc. (a) 2,124 84,556 
Willdan Group, Inc. (a) 143 4,319 
  6,337,686 
Road & Rail - 1.0%   
AMERCO 325 106,106 
ArcBest Corp. 1,423 52,822 
Avis Budget Group, Inc. (a) 3,483 97,942 
Covenant Transport Group, Inc. Class A (a) 308 7,709 
CSX Corp. 44,107 3,037,208 
Daseke, Inc. (a) 866 5,265 
Genesee & Wyoming, Inc. Class A (a) 3,307 262,014 
Heartland Express, Inc. 2,117 41,218 
J.B. Hunt Transport Services, Inc. 4,128 456,598 
Kansas City Southern 5,173 527,439 
Knight-Swift Transportation Holdings, Inc. Class A 6,433 205,856 
Landstar System, Inc. 2,300 230,207 
Marten Transport Ltd. 1,617 31,143 
Norfolk Southern Corp. 14,149 2,374,627 
Old Dominion Freight Lines, Inc. 3,375 440,168 
Ryder System, Inc. 2,477 137,003 
Saia, Inc. (a) 1,293 81,278 
Schneider National, Inc. Class B 1,308 28,606 
Union Pacific Corp. 38,788 5,671,581 
Werner Enterprises, Inc. 2,216 71,333 
YRC Worldwide, Inc. (a) 1,152 9,516 
  13,875,639 
Trading Companies & Distributors - 0.3%   
Air Lease Corp. Class A 4,629 176,365 
Aircastle Ltd. 2,181 42,377 
Applied Industrial Technologies, Inc. 1,926 126,596 
Beacon Roofing Supply, Inc. (a) 3,185 88,893 
BMC Stock Holdings, Inc. (a) 2,606 43,624 
CAI International, Inc. (a) 385 9,590 
DXP Enterprises, Inc. (a) 862 27,394 
Fastenal Co. 14,139 726,886 
GATX Corp. 1,961 146,938 
H&E Equipment Services, Inc. 1,668 40,182 
HD Supply Holdings, Inc. (a) 8,875 333,434 
Herc Holdings, Inc. (a) 1,150 36,869 
Kaman Corp. 1,217 77,304 
MRC Global, Inc. (a) 4,155 65,774 
MSC Industrial Direct Co., Inc. Class A 2,056 166,659 
Nexeo Solutions, Inc. (a) 2,235 23,356 
Now, Inc. (a) 6,009 77,156 
Rush Enterprises, Inc. Class A 1,461 51,705 
SiteOne Landscape Supply, Inc. (a) 1,854 126,146 
Systemax, Inc. 519 16,769 
Textainer Group Holdings Ltd. (a) 946 11,097 
Titan Machinery, Inc. (a) 850 12,113 
Triton International Ltd. 2,228 71,675 
United Rentals, Inc. (a) 4,204 504,774 
Univar, Inc. (a) 6,056 149,099 
Veritiv Corp. (a) 418 13,936 
W.W. Grainger, Inc. 2,554 725,259 
Watsco, Inc. 1,639 242,867 
WESCO International, Inc. (a) 2,397 120,281 
  4,255,118 
Transportation Infrastructure - 0.0%   
Macquarie Infrastructure Co. LLC 3,635 134,313 
TOTAL INDUSTRIALS  136,979,273 
INFORMATION TECHNOLOGY - 20.7%   
Communications Equipment - 1.2%   
ADTRAN, Inc. 1,932 25,966 
Aerohive Networks, Inc. (a) 473 1,812 
Applied Optoelectronics, Inc. (a)(b) 715 14,035 
Arista Networks, Inc. (a) 2,314 533,030 
Arris International PLC (a) 8,515 211,768 
CalAmp Corp. (a) 1,879 37,467 
Calix Networks, Inc. (a) 1,584 11,563 
Carvana Co. Class A (a)(b) 691 26,776 
Ciena Corp. (a) 6,758 211,255 
Cisco Systems, Inc. 244,253 11,174,575 
CommScope Holding Co., Inc. (a) 9,717 233,791 
Comtech Telecommunications Corp. 1,432 39,981 
EchoStar Holding Corp. Class A (a) 2,228 90,345 
EMCORE Corp. (a) 405 1,997 
Extreme Networks, Inc. (a) 5,215 28,943 
F5 Networks, Inc. (a) 3,215 563,525 
Finisar Corp. (a) 6,143 102,527 
Harmonic, Inc. (a) 4,388 24,178 
Infinera Corp. (a) 5,720 31,689 
InterDigital, Inc. 1,759 124,801 
Juniper Networks, Inc. 18,207 532,919 
Lumentum Holdings, Inc. (a) 3,228 176,410 
Motorola Solutions, Inc. 8,009 981,583 
NETGEAR, Inc. (a) 1,516 84,108 
NetScout Systems, Inc. (a) 4,673 118,040 
Oclaro, Inc. (a) 6,850 56,307 
Palo Alto Networks, Inc. (a) 4,495 822,765 
Plantronics, Inc. 2,099 123,778 
Quantenna Communications, Inc. (a) 485 8,711 
Sonus Networks, Inc. (a) 1,144 7,779 
Ubiquiti Networks, Inc. (b) 1,093 101,747 
ViaSat, Inc. (a)(b) 2,867 182,800 
Viavi Solutions, Inc. (a) 11,110 128,098 
  16,815,069 
Electronic Equipment & Components - 0.9%   
Amphenol Corp. Class A 15,050 1,346,975 
Anixter International, Inc. (a) 1,521 99,914 
Arrow Electronics, Inc. (a) 4,535 307,065 
Avnet, Inc. 6,079 243,586 
AVX Corp. 1,739 29,007 
Badger Meter, Inc. 1,688 82,898 
Belden, Inc. 1,993 107,722 
Benchmark Electronics, Inc. 2,247 49,052 
Cardtronics PLC (a) 2,324 63,120 
Casa Systems, Inc. (a) 4,070 58,608 
CDW Corp. 7,673 690,647 
Cognex Corp. 8,425 360,927 
Coherent, Inc. (a) 1,205 148,384 
Control4 Corp. (a) 739 20,633 
Corning, Inc. 43,097 1,376,949 
CTS Corp. 1,754 46,814 
Daktronics, Inc. 943 6,893 
Dell Technologies, Inc. (a) 9,967 900,917 
Dolby Laboratories, Inc. Class A 2,968 204,228 
Electro Scientific Industries, Inc. (a) 1,882 54,578 
ePlus, Inc. (a) 835 70,875 
Fabrinet 2,141 92,748 
FARO Technologies, Inc. (a) 647 32,699 
Fitbit, Inc. (a)(b) 7,314 34,595 
FLIR Systems, Inc. 6,863 317,826 
II-VI, Inc. (a) 2,597 96,686 
Insight Enterprises, Inc. (a) 1,741 89,992 
IPG Photonics Corp. (a) 1,856 247,869 
Iteris, Inc. (a) 486 2,100 
Itron, Inc. (a) 1,784 93,018 
Jabil, Inc. 9,420 232,957 
KEMET Corp. 2,794 60,853 
Keysight Technologies, Inc. (a) 9,132 521,255 
Knowles Corp. (a) 4,270 69,089 
Littelfuse, Inc. 1,184 214,493 
Maxwell Technologies, Inc. (a)(b) 567 1,667 
Mesa Laboratories, Inc. 168 30,692 
Methode Electronics, Inc. Class A 1,579 46,738 
MicroVision, Inc. (a)(b) 1,309 1,414 
MTS Systems Corp. 827 39,158 
National Instruments Corp. 5,298 259,443 
Novanta, Inc. (a) 1,715 99,830 
OSI Systems, Inc. (a) 1,145 79,188 
Park Electrochemical Corp. 630 11,126 
PC Mall, Inc. (a) 176 3,321 
Plexus Corp. (a) 1,732 101,149 
Rogers Corp. (a) 881 108,416 
Sanmina Corp. (a) 3,088 78,126 
ScanSource, Inc. (a) 1,619 62,947 
SYNNEX Corp. 1,667 129,376 
TE Connectivity Ltd. 17,472 1,317,738 
Tech Data Corp. (a) 1,690 119,415 
Trimble, Inc. (a) 12,410 463,886 
TTM Technologies, Inc. (a) 4,374 51,176 
Vishay Intertechnology, Inc. 6,262 114,595 
Zebra Technologies Corp. Class A (a) 2,638 438,699 
  11,934,072 
Internet Software & Services - 0.0%   
ANGI Homeservices, Inc. Class A (a)(b) 2,166 41,457 
BlackLine, Inc. (a) 1,396 64,746 
Cision Ltd. (a) 1,751 25,897 
GTT Communications, Inc. (a)(b) 1,591 57,117 
Yatra Online, Inc. (a) 302 1,341 
  190,558 
IT Services - 4.6%   
Accenture PLC Class A 30,410 4,793,224 
Akamai Technologies, Inc. (a) 8,400 606,900 
Alliance Data Systems Corp. 2,375 489,678 
Amdocs Ltd. 7,013 443,713 
Automatic Data Processing, Inc. 21,746 3,133,164 
Booz Allen Hamilton Holding Corp. Class A 7,429 368,033 
Broadridge Financial Solutions, Inc. 5,738 671,002 
CACI International, Inc. Class A (a) 1,279 228,250 
Carbonite, Inc. (a) 844 28,873 
Cass Information Systems, Inc. 457 30,208 
Cognizant Technology Solutions Corp. Class A 29,249 2,019,058 
Conduent, Inc. (a) 9,637 184,067 
CoreLogic, Inc. (a) 3,985 161,871 
CSG Systems International, Inc. 1,413 49,596 
DXC Technology Co. 14,199 1,034,113 
Endurance International Group Holdings, Inc. (a) 3,677 36,292 
EPAM Systems, Inc. (a) 2,552 304,887 
Euronet Worldwide, Inc. (a) 2,603 289,402 
Everi Holdings, Inc. (a) 3,275 23,580 
EVERTEC, Inc. 3,273 85,360 
ExlService Holdings, Inc. (a) 1,814 116,277 
Fidelity National Information Services, Inc. 16,539 1,721,710 
First Data Corp. Class A (a) 21,629 405,327 
Fiserv, Inc. (a) 20,553 1,629,853 
FleetCor Technologies, Inc. (a) 4,390 878,132 
Gartner, Inc. (a) 4,530 668,266 
Genpact Ltd. 7,052 193,295 
Global Payments, Inc. 7,895 901,846 
GoDaddy, Inc. (a) 5,230 382,679 
Hackett Group, Inc. 1,315 26,918 
IBM Corp. 42,608 4,918,241 
Internap Network Services Corp. (a) 284 2,434 
Jack Henry & Associates, Inc. 3,817 571,901 
Leidos Holdings, Inc. 7,059 457,282 
Limelight Networks, Inc. (a) 3,741 15,076 
Liveramp Holdings, Inc. (a) 3,743 170,980 
ManTech International Corp. Class A 1,204 68,965 
MasterCard, Inc. Class A 45,908 9,074,634 
Maximus, Inc. 3,245 210,828 
MoneyGram International, Inc. (a) 554 2,349 
MongoDB, Inc. Class A (b) 355 28,933 
NIC, Inc. 3,150 41,927 
Okta, Inc. (a) 1,890 110,300 
Paychex, Inc. 15,789 1,034,022 
PayPal Holdings, Inc. (a) 55,990 4,713,798 
Perficient, Inc. (a) 1,699 42,509 
Perspecta, Inc. 6,935 169,838 
Presidio, Inc. 1,261 16,897 
Sabre Corp. 10,392 256,163 
Science Applications International Corp. 2,368 164,600 
Square, Inc. (a) 13,245 972,845 
Switch, Inc. Class A 1,377 12,214 
Sykes Enterprises, Inc. (a) 2,364 72,504 
Teradata Corp. (a) 5,682 206,825 
The Western Union Co. 23,707 427,674 
Total System Services, Inc. 8,441 769,397 
Travelport Worldwide Ltd. 5,982 89,491 
Ttec Holdings, Inc. 408 10,167 
Twilio, Inc. Class A (a) 3,427 257,779 
Unisys Corp. (a) 1,995 36,728 
VeriSign, Inc. (a) 4,380 624,325 
Virtusa Corp. (a) 1,188 58,913 
Visa, Inc. Class A 89,554 12,345,019 
WEX, Inc. (a) 2,001 352,096 
Worldpay, Inc. (a) 14,835 1,362,446 
  61,575,674 
Semiconductors & Semiconductor Equipment - 3.5%   
Acacia Communications, Inc. (a) 760 26,197 
Advanced Energy Industries, Inc. (a) 2,203 94,795 
Advanced Micro Devices, Inc. (a) 40,249 732,934 
Alpha & Omega Semiconductor Ltd. (a) 370 3,430 
Amkor Technology, Inc. (a) 7,118 50,894 
Analog Devices, Inc. 18,357 1,536,664 
Applied Materials, Inc. 53,100 1,745,928 
Axcelis Technologies, Inc. (a) 1,539 26,563 
AXT, Inc. (a) 1,632 10,755 
Broadcom, Inc. 20,129 4,498,630 
Brooks Automation, Inc. 3,645 113,104 
Cabot Microelectronics Corp. 1,392 135,887 
Ceva, Inc. (a) 1,086 26,759 
Cirrus Logic, Inc. (a) 3,322 124,376 
Cohu, Inc. 1,886 39,229 
Cree, Inc. (a) 4,865 188,859 
CyberOptics Corp. (a) 118 2,495 
Cypress Semiconductor Corp. 17,040 220,498 
Diodes, Inc. (a) 2,586 78,071 
Entegris, Inc. 7,319 194,246 
First Solar, Inc. (a) 4,156 173,721 
FormFactor, Inc. (a) 4,109 50,294 
Ichor Holdings Ltd. (a)(b) 887 15,744 
Impinj, Inc. (a) 660 12,936 
Inphi Corp. (a) 1,958 62,656 
Integrated Device Technology, Inc. (a) 6,570 307,542 
Intel Corp. 231,575 10,856,236 
KLA-Tencor Corp. 7,720 706,689 
Kopin Corp. (a) 1,061 2,366 
Kulicke & Soffa Industries, Inc. 3,132 63,674 
Lam Research Corp. 8,093 1,147,021 
Lattice Semiconductor Corp. (a) 6,873 41,307 
MACOM Technology Solutions Holdings, Inc. (a) 1,472 20,711 
Marvell Technology Group Ltd. 20,490 336,241 
Maxim Integrated Products, Inc. 13,900 695,278 
MaxLinear, Inc. Class A (a) 2,548 49,457 
Microchip Technology, Inc. (b) 11,781 774,954 
Micron Technology, Inc. (a) 57,245 2,159,281 
MKS Instruments, Inc. 2,620 193,068 
Monolithic Power Systems, Inc. 1,778 210,017 
Nanometrics, Inc. (a) 1,028 32,958 
NeoPhotonics Corp. (a) 1,538 12,304 
NVE Corp. 189 16,008 
NVIDIA Corp. 30,019 6,328,906 
ON Semiconductor Corp. (a) 21,760 369,920 
PDF Solutions, Inc. (a) 1,227 9,816 
Photronics, Inc. (a) 3,002 29,239 
Pixelworks, Inc. (a) 518 2,165 
Power Integrations, Inc. 1,254 70,625 
Qorvo, Inc. (a) 6,372 468,406 
Qualcomm, Inc. 72,895 4,584,367 
Rambus, Inc. (a) 4,921 42,862 
Rudolph Technologies, Inc. (a) 1,360 28,274 
Semtech Corp. (a) 3,352 150,639 
Silicon Laboratories, Inc. (a) 1,991 162,326 
Skyworks Solutions, Inc. 9,043 784,571 
SMART Global Holdings, Inc. (a) 111 3,109 
SolarEdge Technologies, Inc. (a)(b) 1,807 69,985 
SunPower Corp. (a)(b) 2,177 13,084 
Synaptics, Inc. (a) 1,530 57,436 
Teradyne, Inc. 9,474 326,379 
Texas Instruments, Inc. 48,740 4,524,534 
Ultra Clean Holdings, Inc. (a) 1,426 15,002 
Universal Display Corp. (b) 2,103 258,690 
Veeco Instruments, Inc. (a) 1,807 17,185 
Versum Materials, Inc. 5,336 168,404 
Xilinx, Inc. 12,496 1,066,784 
Xperi Corp. 1,993 25,909 
  47,369,394 
Software - 6.0%   
2U, Inc. (a) 2,716 170,864 
8x8, Inc. (a) 4,915 84,489 
A10 Networks, Inc. (a) 2,273 13,206 
ACI Worldwide, Inc. (a) 5,954 149,386 
Adobe, Inc. (a) 24,413 5,999,739 
Alarm.com Holdings, Inc. (a) 1,121 49,862 
Altair Engineering, Inc. Class A (a) 960 36,614 
Alteryx, Inc. Class A (a)(b) 1,323 70,106 
ANSYS, Inc. (a) 4,267 638,130 
AppFolio, Inc. (a) 376 21,470 
Appian Corp. Class A (a) 543 13,961 
Apptio, Inc. Class A (a) 138 3,574 
Aspen Technology, Inc. (a) 3,681 312,480 
Asure Software, Inc. (a) 198 2,206 
Autodesk, Inc. (a) 10,949 1,415,158 
Avaya Holdings Corp. (a) 5,663 92,986 
Benefitfocus, Inc. (a) 1,311 46,580 
Black Knight, Inc. (a) 5,713 278,623 
Blackbaud, Inc. 2,460 176,431 
Bottomline Technologies, Inc. (a) 2,091 139,344 
Box, Inc. Class A (a) 6,260 112,680 
CA Technologies, Inc. 15,283 677,954 
Cadence Design Systems, Inc. (a) 13,815 615,735 
CDK Global, Inc. 6,548 374,808 
Citrix Systems, Inc. 7,083 725,795 
Cloudera, Inc. (a) 3,617 49,770 
CommVault Systems, Inc. (a) 2,915 169,711 
Cornerstone OnDemand, Inc. (a) 2,635 129,774 
Coupa Software, Inc. (a) 1,372 88,947 
Digimarc Corp. (a) 462 11,610 
Ebix, Inc. 1,075 61,608 
Ellie Mae, Inc. (a)(b) 1,851 122,684 
Envestnet, Inc. (a) 2,522 131,194 
Everbridge, Inc. (a) 709 36,038 
Fair Isaac Corp. (a) 1,600 308,336 
FireEye, Inc. (a) 8,435 155,963 
Five9, Inc. (a) 2,431 95,684 
Forescout Technologies, Inc. (a) 799 22,004 
Fortinet, Inc. (a) 7,462 613,227 
Guidewire Software, Inc. (a) 4,049 360,240 
Hortonworks, Inc. (a) 2,020 36,077 
HubSpot, Inc. (a) 1,743 236,438 
Imperva, Inc. (a) 1,481 81,973 
Instructure, Inc. (a) 724 27,034 
Intuit, Inc. 12,019 2,536,009 
j2 Global, Inc. 2,200 160,248 
LivePerson, Inc. (a) 3,089 69,811 
LogMeIn, Inc. 2,574 221,673 
Manhattan Associates, Inc. (a) 3,302 157,637 
Microsoft Corp. 381,449 40,742,568 
MicroStrategy, Inc. Class A (a) 353 44,467 
MINDBODY, Inc. (a) 1,220 38,845 
Mitek Systems, Inc. (a) 2,054 18,835 
MobileIron, Inc. (a) 2,165 10,468 
Model N, Inc. (a) 1,047 16,082 
Monotype Imaging Holdings, Inc. 2,037 35,709 
New Relic, Inc. (a) 2,073 185,015 
Nuance Communications, Inc. (a) 13,359 232,313 
Nutanix, Inc. Class A (a) 2,753 114,277 
Onespan, Inc. (a) 1,320 19,371 
Oracle Corp. 150,522 7,351,494 
Parametric Technology Corp. (a) 5,661 466,523 
Paycom Software, Inc. (a)(b) 2,346 293,719 
Paylocity Holding Corp. (a) 1,541 101,382 
Pegasystems, Inc. 1,761 94,249 
Progress Software Corp. 2,665 85,653 
Proofpoint, Inc. (a) 2,157 196,179 
PROS Holdings, Inc. (a) 1,606 52,870 
Q2 Holdings, Inc. (a) 1,439 76,598 
QAD, Inc. Class A 381 16,166 
Qualys, Inc. (a) 1,554 110,707 
Rapid7, Inc. (a) 1,174 42,546 
RealPage, Inc. (a) 3,123 165,519 
Red Hat, Inc. (a) 8,779 1,506,828 
Red Violet, Inc. (a) 510 3,004 
RingCentral, Inc. (a) 3,398 264,127 
SailPoint Technologies Holding, Inc. (a) 953 24,816 
Salesforce.com, Inc. (a) 33,972 4,662,317 
SendGrid, Inc. (a) 468 16,998 
ServiceNow, Inc. (a) 8,646 1,565,272 
Splunk, Inc. (a) 6,897 688,596 
SPS Commerce, Inc. (a) 997 92,811 
SS&C Technologies Holdings, Inc. 8,482 433,939 
Symantec Corp. 30,396 551,687 
Synopsys, Inc. (a) 7,620 682,219 
Tableau Software, Inc. (a) 3,031 323,347 
The Rubicon Project, Inc. (a) 790 2,694 
The Trade Desk, Inc. (a) 917 113,295 
TiVo Corp. 5,357 58,927 
Tyler Technologies, Inc. (a) 1,795 379,930 
Ultimate Software Group, Inc. (a) 1,444 385,014 
Upland Software, Inc. (a) 259 8,169 
Varonis Systems, Inc. (a) 814 49,711 
Verint Systems, Inc. (a) 3,089 141,075 
VirnetX Holding Corp. (a) 2,245 7,409 
VMware, Inc. Class A (a) 3,341 472,384 
Workday, Inc. Class A (a) 6,649 884,450 
Workiva, Inc. (a) 1,235 42,101 
Zendesk, Inc. (a) 5,129 281,941 
  82,260,487 
Technology Hardware, Storage & Peripherals - 4.5%   
3D Systems Corp. (a)(b) 5,327 64,350 
Apple, Inc. 254,044 55,600,034 
Avid Technology, Inc. (a) 595 3,154 
Cray, Inc. (a) 1,823 41,364 
Diebold Nixdorf, Inc. (b) 3,393 13,233 
Eastman Kodak Co. (a)(b) 704 1,718 
Electronics for Imaging, Inc. (a) 1,963 59,773 
Hewlett Packard Enterprise Co. 78,476 1,196,759 
HP, Inc. 83,207 2,008,617 
Immersion Corp. (a) 640 6,406 
NCR Corp. (a) 6,297 169,074 
NetApp, Inc. 13,559 1,064,246 
Pure Storage, Inc. Class A (a) 5,242 105,784 
Quantum Corp. (a) 557 1,281 
Seagate Technology LLC 14,221 572,111 
U.S.A. Technologies, Inc. (a) 2,071 12,012 
Western Digital Corp. 14,553 626,798 
Xerox Corp. 11,069 308,493 
  61,855,207 
TOTAL INFORMATION TECHNOLOGY  282,000,461 
MATERIALS - 2.6%   
Chemicals - 1.6%   
A. Schulman, Inc. rights (a)(c) 493 942 
Advanced Emissions Solutions, Inc. 349 3,455 
AdvanSix, Inc. (a) 1,506 41,776 
Air Products & Chemicals, Inc. 10,788 1,665,128 
Albemarle Corp. U.S. 5,495 545,214 
American Vanguard Corp. 1,302 20,962 
Ashland Global Holdings, Inc. 2,965 219,351 
Axalta Coating Systems Ltd. (a) 11,548 285,005 
Balchem Corp. 1,625 152,181 
Cabot Corp. 3,225 156,993 
Celanese Corp. Class A 6,723 651,728 
CF Industries Holdings, Inc. 11,764 565,025 
Chase Corp. 272 29,332 
DowDuPont, Inc. 115,841 6,246,147 
Eastman Chemical Co. 7,121 557,930 
Ecolab, Inc. 12,733 1,950,059 
Ferro Corp. (a) 3,606 61,086 
Flotek Industries, Inc. (a) 973 1,761 
FMC Corp. 6,690 522,355 
H.B. Fuller Co. 2,711 120,531 
Hawkins, Inc. 233 7,843 
Huntsman Corp. 10,170 222,520 
Ingevity Corp. (a) 2,054 187,078 
Innophos Holdings, Inc. 960 28,128 
Innospec, Inc. 1,039 69,530 
International Flavors & Fragrances, Inc. 3,889 562,583 
Intrepid Potash, Inc. (a) 3,828 15,121 
KMG Chemicals, Inc. 493 36,985 
Koppers Holdings, Inc. (a) 991 26,509 
Kraton Performance Polymers, Inc. (a) 1,357 37,372 
Kronos Worldwide, Inc. 925 12,978 
LSB Industries, Inc. (a) 366 2,782 
LyondellBasell Industries NV Class A 16,094 1,436,711 
Minerals Technologies, Inc. 2,412 132,057 
NewMarket Corp. 486 187,577 
Olin Corp. 7,702 155,580 
OMNOVA Solutions, Inc. (a) 1,203 8,890 
Platform Specialty Products Corp. (a) 10,414 112,679 
PolyOne Corp. 3,965 128,109 
PPG Industries, Inc. 12,693 1,333,907 
PQ Group Holdings, Inc. (a) 1,526 24,492 
Quaker Chemical Corp. 670 120,533 
Rayonier Advanced Materials, Inc. 2,231 27,620 
RPM International, Inc. 6,578 402,376 
Sensient Technologies Corp. 2,147 139,254 
Sherwin-Williams Co. 4,080 1,605,358 
Stepan Co. 1,144 94,483 
The Chemours Co. LLC 9,113 300,820 
The Mosaic Co. 17,363 537,211 
The Scotts Miracle-Gro Co. Class A 2,334 155,771 
Trinseo SA 2,002 107,868 
Tronox Ltd. Class A 3,850 44,083 
Valvoline, Inc. 10,349 206,152 
Venator Materials PLC (a) 2,162 14,615 
W.R. Grace & Co. 3,105 201,173 
Westlake Chemical Corp. 1,694 120,782 
  22,604,491 
Construction Materials - 0.1%   
Eagle Materials, Inc. 2,788 205,866 
Forterra, Inc. (a) 359 1,619 
Foundation Building Materials, Inc. (a) 198 1,887 
Martin Marietta Materials, Inc. 3,124 535,079 
nVent Electric PLC 8,153 199,096 
Summit Materials, Inc. 4,910 66,285 
U.S. Concrete, Inc. (a) 645 21,053 
United States Lime & Minerals, Inc. 22 1,650 
Vulcan Materials Co. 6,485 655,893 
  1,688,428 
Containers & Packaging - 0.4%   
Aptargroup, Inc. 3,124 318,523 
Avery Dennison Corp. 4,371 396,537 
Ball Corp. 17,200 770,560 
Bemis Co., Inc. 4,445 203,448 
Berry Global Group, Inc. (a) 6,363 277,554 
Crown Holdings, Inc. (a) 6,783 286,853 
Graphic Packaging Holding Co. 15,046 165,656 
Greif, Inc. Class A 1,048 49,570 
International Paper Co. 20,266 919,266 
Myers Industries, Inc. 868 13,766 
Owens-Illinois, Inc. (a) 7,782 121,944 
Packaging Corp. of America 4,683 429,946 
Sealed Air Corp. 9,024 292,017 
Silgan Holdings, Inc. 3,535 84,946 
Sonoco Products Co. 5,222 285,017 
WestRock Co. 12,683 544,989 
  5,160,592 
Metals & Mining - 0.4%   
AK Steel Holding Corp. (a)(b) 16,538 61,191 
Alcoa Corp. (a) 8,523 298,220 
Allegheny Technologies, Inc. (a) 5,918 153,217 
Atkore International Group, Inc. (a) 732 14,098 
Carpenter Technology Corp. 2,197 95,811 
Century Aluminum Co. (a) 2,078 16,499 
Cleveland-Cliffs, Inc. (b) 13,816 148,660 
Coeur d'Alene Mines Corp. (a) 8,762 41,882 
Commercial Metals Co. 6,200 118,172 
Compass Minerals International, Inc. 1,807 87,658 
Freeport-McMoRan, Inc. 66,164 770,811 
Gold Resource Corp. 3,817 16,528 
Haynes International, Inc. 1,092 31,624 
Hecla Mining Co. 17,868 42,883 
Kaiser Aluminum Corp. 728 69,429 
Materion Corp. 1,291 73,368 
McEwen Mining, Inc. (b) 12,248 24,006 
Newmont Mining Corp. 26,145 808,403 
Nucor Corp. 15,984 944,974 
Olympic Steel, Inc. 153 2,886 
Reliance Steel & Aluminum Co. 3,535 278,982 
Royal Gold, Inc. 3,270 250,580 
Ryerson Holding Corp. (a) 285 2,616 
Schnitzer Steel Industries, Inc. Class A 1,365 36,719 
Steel Dynamics, Inc. 11,654 461,498 
SunCoke Energy, Inc. 4,021 45,035 
TimkenSteel Corp. (a) 1,425 16,573 
United States Steel Corp. 8,812 233,782 
Warrior Metropolitan Coal, Inc. 784 21,952 
Worthington Industries, Inc. 2,169 90,838 
  5,258,895 
Paper & Forest Products - 0.1%   
Boise Cascade Co. 1,564 48,156 
Clearwater Paper Corp. (a) 603 14,556 
Domtar Corp. 3,081 142,681 
Kapstone Paper & Packaging Corp. 4,242 148,470 
Louisiana-Pacific Corp. 7,548 164,320 
Mercer International, Inc. (SBI) 2,652 40,337 
Neenah, Inc. 720 57,931 
P.H. Glatfelter Co. 2,627 47,023 
Resolute Forest Products 4,537 51,132 
Schweitzer-Mauduit International, Inc. 1,769 56,466 
Verso Corp. (a) 1,561 43,880 
  814,952 
TOTAL MATERIALS  35,527,358 
REAL ESTATE - 3.6%   
Equity Real Estate Investment Trusts (REITs) - 3.5%   
Acadia Realty Trust (SBI) 4,681 130,319 
Agree Realty Corp. 1,830 104,804 
Alexander & Baldwin, Inc. 3,010 58,815 
Alexanders, Inc. 198 62,372 
Alexandria Real Estate Equities, Inc. 5,170 631,929 
American Assets Trust, Inc. 1,474 56,543 
American Campus Communities, Inc. 6,428 253,970 
American Homes 4 Rent Class A 12,369 260,615 
American Tower Corp. 21,169 3,298,342 
Americold Realty Trust 2,575 63,731 
Apartment Investment & Management Co. Class A 7,444 320,390 
Apple Hospitality (REIT), Inc. 10,144 164,028 
Armada Hoffler Properties, Inc. 1,131 16,942 
Ashford Hospitality Trust, Inc. 3,749 19,307 
AvalonBay Communities, Inc. 6,797 1,192,058 
Bluerock Residential Growth (REIT), Inc. 351 3,324 
Boston Properties, Inc. 7,564 913,429 
Braemar Hotels & Resorts, Inc. 823 8,757 
Brandywine Realty Trust (SBI) 9,710 136,523 
Brixmor Property Group, Inc. 14,938 241,996 
Camden Property Trust (SBI) 4,548 410,548 
CareTrust (REIT), Inc. 3,795 67,020 
CatchMark Timber Trust, Inc. 4,356 38,551 
CBL & Associates Properties, Inc. (b) 6,928 22,862 
Cedar Realty Trust, Inc. 2,268 8,550 
Chatham Lodging Trust 1,975 38,513 
Chesapeake Lodging Trust 2,479 72,858 
City Office REIT, Inc. 735 8,100 
Colony Capital, Inc. 27,275 160,104 
Columbia Property Trust, Inc. 6,770 151,987 
Community Healthcare Trust, Inc. 1,094 32,514 
CorEnergy Infrastructure Trust, Inc. 238 8,599 
CorePoint Lodging, Inc. 1,727 28,271 
CoreSite Realty Corp. 1,724 161,815 
Corporate Office Properties Trust (SBI) 5,183 133,929 
Corrections Corp. of America 6,248 140,330 
Cousins Properties, Inc. 25,162 209,096 
Crown Castle International Corp. 20,064 2,181,759 
CubeSmart 9,186 266,210 
CyrusOne, Inc. 4,764 253,588 
DDR Corp. 8,230 102,299 
DiamondRock Hospitality Co. 11,172 116,747 
Digital Realty Trust, Inc. 10,200 1,053,252 
Douglas Emmett, Inc. 7,486 270,918 
Duke Realty Corp. 18,298 504,476 
Easterly Government Properties, Inc. 2,365 42,972 
EastGroup Properties, Inc. 1,970 188,706 
Empire State Realty Trust, Inc. 5,930 94,050 
EPR Properties 3,247 223,199 
Equinix, Inc. 3,877 1,468,375 
Equity Commonwealth 6,658 198,275 
Equity Lifestyle Properties, Inc. 4,308 407,925 
Equity Residential (SBI) 18,040 1,171,878 
Essex Property Trust, Inc. 3,257 816,790 
Extra Space Storage, Inc. 6,343 571,251 
Farmland Partners, Inc. (b) 594 4,069 
Federal Realty Investment Trust (SBI) 3,659 453,899 
First Industrial Realty Trust, Inc. 5,635 172,995 
Forest City Realty Trust, Inc. Class A 12,764 321,142 
Four Corners Property Trust, Inc. 2,711 70,703 
Franklin Street Properties Corp. 4,083 28,418 
Front Yard Residential Corp. Class B 2,383 22,090 
Gaming & Leisure Properties 10,045 338,416 
Getty Realty Corp. 1,846 49,528 
Gladstone Commercial Corp. 697 13,236 
Global Medical REIT, Inc. 289 2,647 
Global Net Lease, Inc. 4,314 87,359 
Government Properties Income Trust 4,137 36,530 
HCP, Inc. 23,366 643,733 
Healthcare Realty Trust, Inc. 6,337 176,549 
Healthcare Trust of America, Inc. 10,989 288,571 
Hersha Hospitality Trust 1,846 32,416 
Highwoods Properties, Inc. (SBI) 4,759 202,924 
Hospitality Properties Trust (SBI) 7,855 201,245 
Host Hotels & Resorts, Inc. 36,089 689,661 
Hudson Pacific Properties, Inc. 7,612 230,644 
Independence Realty Trust, Inc. 4,392 43,525 
Industrial Logistics Properties Trust 661 14,271 
InfraReit, Inc. 2,035 42,776 
Investors Real Estate Trust 8,703 47,257 
Invitation Homes, Inc. 14,402 315,116 
Iron Mountain, Inc. 13,984 428,050 
iStar Financial, Inc. 2,881 30,251 
JBG SMITH Properties 5,049 189,237 
Jernigan Capital, Inc. 213 4,168 
Kilroy Realty Corp. 5,190 357,487 
Kimco Realty Corp. 21,239 341,736 
Kite Realty Group Trust 4,350 68,904 
Lamar Advertising Co. Class A 4,222 309,557 
LaSalle Hotel Properties (SBI) 5,481 180,928 
Lexington Corporate Properties Trust 9,500 73,815 
Liberty Property Trust (SBI) 7,001 293,132 
Life Storage, Inc. 2,171 204,421 
LTC Properties, Inc. 2,487 106,369 
Mack-Cali Realty Corp. 3,943 80,043 
MedEquities Realty Trust, Inc. 835 6,905 
Medical Properties Trust, Inc. 18,752 278,655 
Mid-America Apartment Communities, Inc. 5,789 565,643 
Monmouth Real Estate Investment Corp. Class A 3,284 49,129 
National Health Investors, Inc. 1,912 140,456 
National Retail Properties, Inc. 7,953 371,803 
National Storage Affiliates Trust 2,854 76,002 
New Senior Investment Group, Inc. 4,135 23,652 
NexPoint Residential Trust, Inc. 709 25,269 
NorthStar Realty Europe Corp. 2,371 31,819 
Omega Healthcare Investors, Inc. 10,032 334,567 
Outfront Media, Inc. 6,662 118,051 
Paramount Group, Inc. 9,141 130,625 
Park Hotels & Resorts, Inc. 8,001 232,589 
Pebblebrook Hotel Trust (b) 3,880 130,795 
Pennsylvania Real Estate Investment Trust (SBI) (b) 3,454 30,913 
Physicians Realty Trust 8,886 147,330 
Piedmont Office Realty Trust, Inc. Class A 6,712 120,950 
Potlatch Corp. 1,839 66,664 
Preferred Apartment Communities, Inc. Class A 1,781 30,010 
Prologis, Inc. 26,392 1,701,492 
PS Business Parks, Inc. 1,098 143,399 
Public Storage 7,394 1,519,245 
QTS Realty Trust, Inc. Class A 2,531 96,988 
Ramco-Gershenson Properties Trust (SBI) 3,259 43,280 
Rayonier, Inc. 6,727 203,155 
Realty Income Corp. 13,979 842,514 
Regency Centers Corp. 7,760 491,674 
Retail Opportunity Investments Corp. 4,733 83,253 
Retail Properties America, Inc. 11,365 139,449 
Rexford Industrial Realty, Inc. 4,214 133,457 
RLJ Lodging Trust 9,021 175,368 
Ryman Hospitality Properties, Inc. 2,664 206,700 
Sabra Health Care REIT, Inc. 8,960 193,984 
Safety Income and Growth, Inc. 136 2,445 
Saul Centers, Inc. 668 31,904 
SBA Communications Corp. Class A (a) 5,831 945,613 
Select Income REIT 2,715 51,341 
Senior Housing Properties Trust (SBI) 11,599 186,396 
Seritage Growth Properties (b) 1,276 48,514 
Simon Property Group, Inc. 15,356 2,818,133 
SL Green Realty Corp. 4,866 444,071 
Spirit MTA REIT 1,828 19,578 
Spirit Realty Capital, Inc. 20,577 160,912 
Stag Industrial, Inc. 4,271 113,011 
Store Capital Corp. 7,686 223,125 
Summit Hotel Properties, Inc. 4,462 51,402 
Sun Communities, Inc. 3,951 396,957 
Sunstone Hotel Investors, Inc. 11,843 171,368 
Tanger Factory Outlet Centers, Inc. 5,557 123,699 
Taubman Centers, Inc. 2,837 156,063 
Terreno Realty Corp. 2,947 110,306 
The GEO Group, Inc. 6,110 135,092 
The Macerich Co. 5,323 274,773 
TIER REIT, Inc. 3,063 66,375 
UDR, Inc. 12,947 507,393 
UMH Properties, Inc. 2,207 31,626 
Uniti Group, Inc. 7,926 151,704 
Universal Health Realty Income Trust (SBI) 754 48,331 
Urban Edge Properties 6,648 136,218 
Urstadt Biddle Properties, Inc. Class A 1,835 36,535 
Ventas, Inc. 17,809 1,033,634 
VEREIT, Inc. 48,502 355,520 
Vornado Realty Trust 8,511 579,429 
Washington Prime Group, Inc. 8,676 55,526 
Washington REIT (SBI) 3,901 108,721 
Weingarten Realty Investors (SBI) 5,599 157,444 
Welltower, Inc. 18,193 1,202,012 
Weyerhaeuser Co. 37,732 1,004,803 
Whitestone REIT Class B 2,758 37,123 
WP Carey, Inc. 5,106 337,047 
Xenia Hotels & Resorts, Inc. 5,881 120,855 
  48,083,113 
Real Estate Management & Development - 0.1%   
Altisource Portfolio Solutions SA (a) 473 11,934 
CBRE Group, Inc. (a) 15,042 606,042 
Colony NorthStar Credit Real Estate, Inc. 3,854 82,244 
Forestar Group, Inc. (a) 182 3,276 
HFF, Inc. 1,918 70,487 
Howard Hughes Corp. (a) 1,981 220,921 
Jones Lang LaSalle, Inc. 2,308 305,256 
Kennedy-Wilson Holdings, Inc. 6,553 124,376 
Marcus & Millichap, Inc. (a) 484 16,804 
Newmark Group, Inc. 5,118 49,849 
RE/MAX Holdings, Inc. 851 31,819 
Realogy Holdings Corp. (b) 6,665 127,102 
Retail Value, Inc. (a) 763 21,372 
Tejon Ranch Co. (a) 511 9,709 
The St. Joe Co. (a) 2,455 37,291 
  1,718,482 
TOTAL REAL ESTATE  49,801,595 
UTILITIES - 3.0%   
Electric Utilities - 1.7%   
Allete, Inc. 2,607 192,918 
Alliant Energy Corp. 11,523 495,259 
American Electric Power Co., Inc. 24,283 1,781,401 
Duke Energy Corp. 34,547 2,854,619 
Edison International 16,156 1,121,065 
El Paso Electric Co. 2,083 118,835 
Entergy Corp. 8,841 742,202 
Evergy, Inc. 6,919 387,395 
Eversource Energy 15,663 990,841 
Exelon Corp. 47,266 2,070,723 
FirstEnergy Corp. 21,944 818,072 
Hawaiian Electric Industries, Inc. 4,876 181,875 
IDACORP, Inc. 2,571 239,771 
MGE Energy, Inc. 2,004 125,210 
NextEra Energy, Inc. 23,098 3,984,405 
OGE Energy Corp. 9,958 359,982 
Otter Tail Corp. 2,163 97,486 
PG&E Corp. 25,566 1,196,744 
Pinnacle West Capital Corp. 5,371 441,765 
PNM Resources, Inc. 4,253 163,358 
Portland General Electric Co. 4,589 206,872 
PPL Corp. 33,512 1,018,765 
Southern Co. 49,786 2,241,864 
Spark Energy, Inc. Class A, 210 1,567 
Vistra Energy Corp. (a) 14,101 319,106 
Xcel Energy, Inc. 25,110 1,230,641 
  23,382,741 
Gas Utilities - 0.2%   
Atmos Energy Corp. 5,373 500,119 
Chesapeake Utilities Corp. 868 68,963 
National Fuel Gas Co. 4,290 232,904 
New Jersey Resources Corp. 4,300 193,930 
Northwest Natural Holding Co. 1,270 82,283 
ONE Gas, Inc. 2,589 204,298 
South Jersey Industries, Inc. 3,722 109,948 
Southwest Gas Holdings, Inc. 2,444 188,848 
Spire, Inc. 2,403 174,410 
UGI Corp. 8,556 453,981 
  2,209,684 
Independent Power and Renewable Electricity Producers - 0.1%   
NRG Energy, Inc. 14,806 535,829 
NRG Yield, Inc.:   
Class A 2,607 50,628 
Class C 1,766 34,631 
Ormat Technologies, Inc. 1,634 83,612 
Pattern Energy Group, Inc. 4,885 87,539 
Terraform Power, Inc. 2,123 23,926 
The AES Corp. 32,883 479,434 
  1,295,599 
Multi-Utilities - 0.9%   
Ameren Corp. 12,006 775,347 
Avangrid, Inc. 2,676 125,799 
Avista Corp. 2,991 153,797 
Black Hills Corp. 2,496 148,512 
CenterPoint Energy, Inc. 21,470 579,905 
CMS Energy Corp. 13,848 685,753 
Consolidated Edison, Inc. 15,381 1,168,956 
Dominion Resources, Inc. 31,615 2,257,943 
DTE Energy Co. 8,884 998,562 
MDU Resources Group, Inc. 10,584 264,177 
NiSource, Inc. 16,707 423,690 
NorthWestern Energy Corp. 2,634 154,774 
Public Service Enterprise Group, Inc. 25,089 1,340,505 
SCANA Corp. 6,959 278,708 
Sempra Energy 12,395 1,364,937 
Unitil Corp. 689 32,734 
Vectren Corp. 3,622 259,082 
WEC Energy Group, Inc. 15,545 1,063,278 
  12,076,459 
Water Utilities - 0.1%   
American States Water Co. 2,127 130,215 
American Water Works Co., Inc. 8,807 779,684 
Aqua America, Inc. 8,450 274,879 
AquaVenture Holdings Ltd. (a) 204 3,417 
Cadiz, Inc. (a) 853 9,485 
California Water Service Group 2,531 106,302 
Connecticut Water Service, Inc. 666 46,034 
Middlesex Water Co. 850 38,250 
Select Energy Services, Inc. Class A (a) 389 3,719 
SJW Corp. 686 41,661 
  1,433,646 
TOTAL UTILITIES  40,398,129 
TOTAL COMMON STOCKS   
(Cost $1,441,185,712)  1,361,498,470 
Money Market Funds - 1.4%   
Fidelity Cash Central Fund, 2.23% (d) 10,933,042 10,935,228 
Fidelity Securities Lending Cash Central Fund 2.23% (d)(e) 8,040,315 8,041,119 
TOTAL MONEY MARKET FUNDS   
(Cost $18,976,347)  18,976,347 
TOTAL INVESTMENT IN SECURITIES - 101.2%   
(Cost $1,460,162,059)  1,380,474,817 
NET OTHER ASSETS (LIABILITIES) - (1.2)%  (16,328,900) 
NET ASSETS - 100%  $1,364,145,917 

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) 2 Dec. 2018 $151,190 $3,353 $3,353 
CME E-mini S&P 500 Index Contracts (United States) 18 Dec. 2018 2,439,990 48,183 48,183 
TOTAL FUTURES CONTRACTS     $51,536 

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) 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, which are not covered by the Fund's Report of Independent Registered Public Accounting Firm, are available on the SEC's website or upon request.

 (e) Investment made with cash collateral received from securities on loan.

Affiliated Central Funds

Information regarding fiscal year to date income earned by the Fund from investments in Fidelity Central Funds is as follows:

Fund Income earned 
Fidelity Cash Central Fund $60,123 
Fidelity Securities Lending Cash Central Fund 7,479 
Total $67,602 

Amounts in the 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.

Investment Valuation

The following is a summary of the inputs used, as of October 31, 2018, 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 $122,950,027 $122,950,027 $-- $-- 
Consumer Discretionary 138,688,134 138,688,134 -- -- 
Consumer Staples 90,611,302 90,611,302 -- -- 
Energy 72,603,481 72,603,481 -- -- 
Financials 194,385,922 194,385,922 -- -- 
Health Care 197,552,788 197,552,788 -- -- 
Industrials 136,979,273 136,979,273 -- -- 
Information Technology 282,000,461 282,000,461 -- -- 
Materials 35,527,358 35,526,416 -- 942 
Real Estate 49,801,595 49,801,595 -- -- 
Utilities 40,398,129 40,398,129 -- -- 
Money Market Funds 18,976,347 18,976,347 -- -- 
Total Investments in Securities: $1,380,474,817 $1,380,473,875 $-- $942 
Derivative Instruments:     
Assets     
Futures Contracts $51,536 $51,536 $-- $-- 
Total Assets $51,536 $51,536 $-- $-- 
Total Derivative Instruments: $51,536 $51,536 $-- $-- 

Value of Derivative Instruments

The following table is a summary of the Fund's value of derivative instruments by primary risk exposure as of October 31, 2018. 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) $51,536 $0 
Total Equity Risk 51,536 0 
Total Value of Derivatives $51,536 $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 net unrealized appreciation (depreciation).

See accompanying notes which are an integral part of the financial statements.


Fidelity ZERO℠ Total Market Index Fund

Financial Statements

Statement of Assets and Liabilities

  October 31, 2018 
Assets   
Investment in securities, at value (including securities loaned of $7,915,679) — See accompanying schedule:
Unaffiliated issuers (cost $1,441,185,712) 		$1,361,498,470  
Fidelity Central Funds (cost $18,976,347) 18,976,347  
Total Investment in Securities (cost $1,460,162,059)  $1,380,474,817 
Segregated cash with brokers for derivative instruments  100,210 
Cash  50,728 
Receivable for fund shares sold  18,486,060 
Dividends receivable  981,762 
Distributions receivable from Fidelity Central Funds  23,220 
Receivable for daily variation margin on futures contracts  18,131 
Total assets  1,400,134,928 
Liabilities   
Payable to custodian bank $14,517  
Payable for investments purchased 26,399,826  
Payable for fund shares redeemed 1,533,504  
Other payables and accrued expenses 57  
Collateral on securities loaned 8,041,107  
Total liabilities  35,989,011 
Net Assets  $1,364,145,917 
Net Assets consist of:   
Paid in capital  $1,440,252,473 
Total distributable earnings (loss)  (76,106,556) 
Net Assets, for 142,650,209 shares outstanding  $1,364,145,917 
Net Asset Value, offering price and redemption price per share ($1,364,145,917 ÷ 142,650,209 shares)  $9.56 

See accompanying notes which are an integral part of the financial statements.


Statement of Operations

  For the period
August 2, 2018 (commencement of operations) to
October 31, 2018 
Investment Income   
Dividends  $3,437,481 
Income from Fidelity Central Funds  67,602 
Total income  3,505,083 
Expenses   
Independent trustees' fees and expenses $458  
Total expenses  458 
Net investment income (loss)  3,504,625 
Realized and Unrealized Gain (Loss)   
Net realized gain (loss) on:   
Investment securities:   
Unaffiliated issuers 78,302  
Fidelity Central Funds (47)  
Foreign currency transactions (63)  
Futures contracts 89,303  
Total net realized gain (loss)  167,495 
Change in net unrealized appreciation (depreciation) on:   
Investment securities:   
Unaffiliated issuers (79,687,242)  
Assets and liabilities in foreign currencies 7  
Futures contracts 51,536  
Total change in net unrealized appreciation (depreciation)  (79,635,699) 
Net gain (loss)  (79,468,204) 
Net increase (decrease) in net assets resulting from operations  $(75,963,579) 

See accompanying notes which are an integral part of the financial statements.


Statement of Changes in Net Assets

 For the period
August 2, 2018 (commencement of operations) to
October 31, 2018 
Increase (Decrease) in Net Assets  
Operations  
Net investment income (loss) $3,504,625 
Net realized gain (loss) 167,495 
Change in net unrealized appreciation (depreciation) (79,635,699) 
Net increase (decrease) in net assets resulting from operations (75,963,579) 
Share transactions  
Proceeds from sales of shares 1,515,817,577 
Cost of shares redeemed (75,708,081) 
Net increase (decrease) in net assets resulting from share transactions 1,440,109,496 
Total increase (decrease) in net assets 1,364,145,917 
Net Assets  
Beginning of period – 
End of period $1,364,145,917 
Other Information  
Shares  
Sold 150,238,900 
Redeemed (7,588,691) 
Net increase (decrease) 142,650,209 

See accompanying notes which are an integral part of the financial statements.


Financial Highlights

Fidelity ZERO Total Market Index Fund

  
Year ended October 31, 2018 A 
Selected Per–Share Data  
Net asset value, beginning of period $10.00 
Income from Investment Operations  
Net investment income (loss)B .04 
Net realized and unrealized gain (loss) (.48) 
Total from investment operations (.44) 
Net asset value, end of period $9.56 
Total ReturnC (4.40)% 
Ratios to Average Net AssetsD,E  
Expenses before reductionsF - %G 
Expenses net of fee waivers, if anyF - %G 
Expenses net of all reductionsF - %G 
Net investment income (loss) 1.61%G 
Supplemental Data  
Net assets, end of period (000 omitted) $1,364,146 
Portfolio turnover rateH 0%I,J 

 A For the period August 2, 2018 (commencement of operations) to October 31, 2018.

 B Calculated based on average shares outstanding during the period.

 C Total returns for periods of less than one year are not annualized.

 D Fees and expenses of any underlying Fidelity Central Funds are not included in the Fund's expense ratio. The Fund indirectly bears its proportionate share of the expenses of any underlying Fidelity Central Funds.

 E Expense ratios reflect operating expenses of the Fund. Expenses before reductions do not reflect amounts reimbursed by the investment adviser or reductions from expense offset arrangements and do not represent the amount paid by the Fund during periods when reimbursements or reductions occur. Expenses net of fee waivers reflect expenses after reimbursement by the investment adviser but prior to reductions from expense offset arrangements. Expenses net of all reductions represent the net expenses paid by the Fund.

 F Amount represents less than .005%.

 G Annualized

 H Amount does not include the portfolio activity of any underlying Fidelity Central Funds.

 I Amount not annualized.

 J Amount represents less than 1%.

See accompanying notes which are an integral part of the financial statements.


Notes to Financial Statements

For the period ended October 31, 2018

1. Organization.

Fidelity ZERO Extended Market Index Fund and Fidelity ZERO Large Cap Index Fund are funds of Fidelity Concord Street Trust, and Fidelity ZERO International Index Fund and Fidelity ZERO Total Market Index Fund are funds of Fidelity Salem Street Trust. Each 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. Share transactions on each Statement of Changes in Net Assets may contain exchanges between affiliated funds.

During July 2018, the Board of Trustees approved the reorganization of Fidelity ZERO International Index Fund and Fidelity ZERO Total Market Index Fund from Fidelity Salem Street Trust to Fidelity Concord Street Trust effective the close of business on January 11, 2019.

2. Investments in Fidelity Central Funds.

The Funds 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 Funds' Schedules of Investments list each of the Fidelity Central Funds held as of period end, if any, as an investment of each Fund, but do not include the underlying holdings of each Fidelity Central Fund. As an Investing Fund, each Fund indirectly bears its proportionate share of the expenses of the underlying Fidelity Central Funds.

The Money Market Central Funds seek preservation of capital and current income and are managed by Fidelity Investments Money Management, Inc. (FIMM), an affiliate of the investment adviser. Annualized expenses of the Money Market Central Funds as of their most recent shareholder report date are less than .005%.

A complete unaudited list of holdings for each Fidelity Central Fund is available upon request or at the Securities and Exchange Commission (the SEC) website at www.sec.gov. In addition, the financial statements of the Fidelity Central Funds, which are not covered by the Funds' Report of Independent Registered Public Accounting Firm, are available on the SEC 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 – Investments 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 following summarizes the significant accounting policies of the Funds:

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 delegated the day to day responsibility for the valuation of each Fund's investments to the Fair Value Committee (the Committee) established by each Fund's investment adviser. In accordance with valuation policies and procedures approved by the Board, each Fund attempts to obtain prices from one or more third party pricing vendors or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with procedures adopted by the Board. Factors used in determining fair value vary by investment type and may include market or investment specific events. The frequency with which these procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee oversees each Fund's valuation policies and procedures and reports to the Board on the Committee's activities and fair value determinations. The Board monitors the appropriateness of the procedures used in valuing each Fund's investments and ratifies the fair value determinations of the Committee.

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 – 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 vendor on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. Utilizing these techniques may result in transfers between Level 1 and Level 2. 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.

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 October 31, 2018 is included at the end of each Fund's Schedule of Investments.

Foreign Currency. The 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. 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. 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. 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. As of October 31, 2018, each Fund did not have any unrecognized tax benefits in the financial statements; nor is each Fund aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. 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.

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. In addition, the Funds claimed a portion of the payment made to redeeming shareholders as a distribution for income tax purposes.

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), 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 $76,499,351 $796,138 $(5,089,228) $(4,293,090) 
Fidelity ZERO International Index Fund 471,149,415 3,983,270 (31,552,958) (27,569,688) 
Fidelity ZERO Large Cap Index Fund 112,138,881 1,071,161 (6,126,224) (5,055,063) 
Fidelity ZERO Total Market Index Fund 1,460,162,556 17,466,756 (97,154,495) (79,687,739) 

The tax-based components of distributable earnings as of period end were as follows for each Fund:

 Undistributed ordinary income Undistributed long-term capital gain Capital loss carryforward Net unrealized appreciation (depreciation) on securities and other investments 
Fidelity ZERO Extended Market Index Fund $65,271 $– $(6,977) $(4,293,090) 
Fidelity ZERO International Index Fund 1,591,778 – (2,351,156) (27,516,311) 
Fidelity ZERO Large Cap Index Fund 95,570 – (1,646) (5,055,063) 
Fidelity ZERO Total Market Index Fund 3,496,673 84,503 – (79,687,732) 

Capital loss carryforwards are only available to offset future capital gains of the Funds to the extent provided by regulations and may be limited. Under the Regulated Investment Company Modernization Act of 2010 (the Act), the Funds are permitted to carry forward capital losses incurred in taxable years beginning after December 22, 2010 for an unlimited period and such capital losses are required to be used prior to any losses that expire. The capital loss carryforward information presented below, including any applicable limitation, is estimated as of fiscal period end and is subject to adjustment.

 No expiration   
 Short-term Long-term Total capital loss carryfoward 
Fidelity ZERO Extended Market Index Fund $(2,572) $(4,405) $(6,977) 
Fidelity ZERO International Index Fund (981,712) (1,369,444) (2,351,156) 
Fidelity ZERO Large Cap Index Fund – (1,646) (1,646) 

Restricted Securities. The 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 is included at the end of each applicable Fund's Schedule of Investments.

4. Derivative Instruments.

Risk Exposures and the Use of Derivative Instruments. The Funds' investment objective allows the Funds to enter into various types of derivative contracts, 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.

The Funds used derivatives 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 Funds may not achieve their objectives.

The Funds' use of derivatives increased or decreased their exposure to the following risk:

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.
 

The 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 the Funds 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 the Funds. Counterparty credit risk related to exchange-traded futures 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. The Funds used futures contracts to manage their 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 (variation margin) 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, except for Fidelity ZERO International Index Fund. 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, are noted in the table below.

 Purchases ($) Sales ($) 
Fidelity ZERO Extended Market Index Fund 73,011,672 161,914 
Fidelity ZERO International Index Fund 412,516,512 1,398,610 
Fidelity ZERO Large Cap Index Fund 110,526,022 758,068 
Fidelity ZERO Total Market Index Fund 1,446,694,083 4,595,486 

6. Fees and Other Transactions with Affiliates.

Management Fee. FMR Co., Inc. (the investment adviser), an affiliate of Fidelity Management & Research Company (FMR), 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. The 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. Interfund trades are included within the respective purchases and sales amounts shown in the Purchases and Sales of Investments note.

7. Security Lending.

Certain Funds lend portfolio securities through a lending agent from time to time in order to earn additional income. For equity securities, a lending agent is used and may loan securities to certain qualified borrowers, including Fidelity Capital Markets (FCM), a broker-dealer affiliated with the Funds. On the settlement date of the loan, each applicable 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 the Funds and any additional required collateral is delivered to the Funds on the next business day. The Funds 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, the Funds may apply collateral received from the borrower against the obligation. The Funds may experience delays and costs in recovering the securities loaned. Any cash collateral received is invested in the Fidelity Securities Lending Cash Central Fund. The value of loaned securities and cash collateral at period end are disclosed on each applicable Fund's 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 on each applicable Fund's Statement of Operations as a component of income from Fidelity Central Funds. Security lending activity was as follows:

 Total Security Lending Income Security Lending Income From Securities Loaned to FCM Value of Securities Loaned to FCM at Period End 
Fidelity ZERO Extended Market Index Fund $686 $5 $2,604 
Fidelity ZERO International Index Fund $244 $– $– 
Fidelity ZERO Large Cap Index Fund $6 $– $– 
Fidelity ZERO Total Market Index Fund $7,479 $41 $48,228 

8. Other.

The Funds' 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 Funds. In the normal course of business, the Funds may also enter into contracts that provide general indemnifications. The Funds' maximum exposure under these arrangements is unknown as this would be dependent on future claims that may be made against the Funds. The risk of material loss from such claims is considered remote.

Report of Independent Registered Public Accounting Firm

To the Trustees of Fidelity Salem Street Trust and Shareholders of Fidelity ZERO International Index Fund and Fidelity ZERO Total Market Index Fund:

Opinion on the Financial Statements and Financial Highlights

We have audited the accompanying statement of assets and liabilities of Fidelity ZERO International Index Fund and Fidelity ZERO Total Market Index Fund (the "Funds"), each a fund of Fidelity Salem Street Trust, including the schedule of investments, as of October 31, 2018 and the related statements of operations, the statements of changes in net assets and the financial highlights for the period from August 2, 2018 (commencement of operations) to October 31, 2018 for Fidelity ZERO International Index Fund and Fidelity ZERO Total Market Index Fund, and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Funds as of October 31, 2018, and the results of its operations, the changes in their net assets and the financial highlights for the period from August 2, 2018 (commencement of operations) to October 31, 2018 for Fidelity ZERO International Index Fund and Fidelity ZERO Total Market Index Fund, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Funds are not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Funds' internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of October 31, 2018, by correspondence with the custodians and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ Deloitte & Touche LLP

Boston, Massachusetts

December 14, 2018


We have served as the auditor of one or more of the Fidelity investment companies since 1999.

Report of Independent Registered Public Accounting Firm

To the Trustees of Fidelity Concord Street Trust and Shareholders of Fidelity ZERO Extended Market Index Fund and Fidelity ZERO Large Cap Index Fund:

Opinion on the Financial Statements and Financial Highlights

We have audited the accompanying statement of assets and liabilities of Fidelity ZERO Extended Market Index Fund and Fidelity ZERO Large Cap Index Fund (the "Funds"), each a fund of Fidelity Concord Street Trust, including the schedule of investments, as of October 31, 2018 and the related statements of operations, the statements of changes in net assets and the financial highlights for the period from September 13, 2018 (commencement of operations) to October 31, 2018 for Fidelity ZERO Extended Market Index Fund and Fidelity ZERO Large Cap Index Fund, and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Funds as of October 31, 2018, and the results of its operations, the changes in their net assets and the financial highlights for the period from September 13, 2018 (commencement of operations) to October 31, 2018 for Fidelity ZERO Extended Market Index Fund and Fidelity ZERO Large Cap Index Fund, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Funds' management. Our responsibility is to express an opinion on the Funds' financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Funds are not required to have, nor were we engaged to perform, an audit of their internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Funds' internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of October 31, 2018, by correspondence with the custodians and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

/s/ Deloitte & Touche LLP

Boston, Massachusetts

December 14, 2018


We have served as the auditor of one or more of the Fidelity investment companies since 1999.

Trustees and Officers - Fidelity Concord Street Trust

The Trustees, Members of the Advisory Board (if any), and officers of the trust and funds, as applicable, are listed below. The Board of Trustees governs each fund and is responsible for protecting the interests of shareholders. The Trustees are experienced executives who meet periodically throughout the year to oversee each fund's activities, review contractual arrangements with companies that provide services to each fund, oversee management of the risks associated with such activities and contractual arrangements, and review each fund's performance.  Except for Jonathan Chiel, each of the Trustees oversees 283 funds. Mr. Chiel oversees 154 funds. 

The Trustees hold office without limit in time except that (a) any Trustee may resign; (b) any Trustee may be removed by written instrument, signed by at least two-thirds of the number of Trustees prior to such removal; (c) any Trustee who requests to be retired or who has become incapacitated by illness or injury may be retired by written instrument signed by a majority of the other Trustees; and (d) any Trustee may be removed at any special meeting of shareholders by a two-thirds vote of the outstanding voting securities of the trust.  Each Trustee who is not an interested person (as defined in the 1940 Act) of the trust and the funds is referred to herein as an Independent Trustee.  Each Independent Trustee shall retire not later than the last day of the calendar year in which his or her 75th birthday occurs.  The Independent Trustees may waive this mandatory retirement age policy with respect to individual Trustees.  Officers and Advisory Board Members hold office without limit in time, except that any officer or Advisory Board Member may resign or may be removed by a vote of a majority of the Trustees at any regular meeting or any special meeting of the Trustees. Except as indicated, each individual has held the office shown or other offices in the same company for the past five years. 

Each fund’s Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-800-544-8544.

Experience, Skills, Attributes, and Qualifications of the Trustees. The Governance and Nominating Committee has adopted a statement of policy that describes the experience, qualifications, attributes, and skills that are necessary and desirable for potential Independent Trustee candidates (Statement of Policy). The Board believes that each Trustee satisfied at the time he or she was initially elected or appointed a Trustee, and continues to satisfy, the standards contemplated by the Statement of Policy. The Governance and Nominating Committee also engages professional search firms to help identify potential Independent Trustee candidates who have the experience, qualifications, attributes, and skills consistent with the Statement of Policy. From time to time, additional criteria based on the composition and skills of the current Independent Trustees, as well as experience or skills that may be appropriate in light of future changes to board composition, business conditions, and regulatory or other developments, have also been considered by the professional search firms and the Governance and Nominating Committee. In addition, the Board takes into account the Trustees' commitment and participation in Board and committee meetings, as well as their leadership of standing and ad hoc committees throughout their tenure.

In determining that a particular Trustee was and continues to be qualified to serve as a Trustee, the Board has considered a variety of criteria, none of which, in isolation, was controlling. The Board believes that, collectively, the Trustees have balanced and diverse experience, qualifications, attributes, and skills, which allow the Board to operate effectively in governing each fund and protecting the interests of shareholders. Information about the specific experience, skills, attributes, and qualifications of each Trustee, which in each case led to the Board's conclusion that the Trustee should serve (or continue to serve) as a trustee of the funds, is provided below.

Board Structure and Oversight Function. James C. Curvey is an interested person and currently serves as Chairman. The Trustees have determined that an interested Chairman is appropriate and benefits shareholders because an interested Chairman has a personal and professional stake in the quality and continuity of services provided to the funds. Independent Trustees exercise their informed business judgment to appoint an individual of their choosing to serve as Chairman, regardless of whether the Trustee happens to be independent or a member of management. The Independent Trustees have determined that they can act independently and effectively without having an Independent Trustee serve as Chairman and that a key structural component for assuring that they are in a position to do so is for the Independent Trustees to constitute a substantial majority for the Board. The Independent Trustees also regularly meet in executive session. Ned C. Lautenbach serves as Chairman of the Independent Trustees and as such (i) acts as a liaison between the Independent Trustees and management with respect to matters important to the Independent Trustees and (ii) with management prepares agendas for Board meetings.

Fidelity® funds are overseen by different Boards of Trustees. The funds' Board oversees Fidelity's high income and certain equity funds, and other Boards oversee Fidelity's investment-grade bond, money market, asset allocation, and other equity funds. The asset allocation funds may invest in Fidelity® funds overseen by the funds' Board. The use of separate Boards, each with its own committee structure, allows the Trustees of each group of Fidelity® funds to focus on the unique issues of the funds they oversee, including common research, investment, and operational issues. On occasion, the separate Boards establish joint committees to address issues of overlapping consequences for the Fidelity® funds overseen by each Board.

The Trustees operate using a system of committees to facilitate the timely and efficient consideration of all matters of importance to the Trustees, each fund, and fund shareholders and to facilitate compliance with legal and regulatory requirements and oversight of the funds' activities and associated risks.  The Board, acting through its committees, has charged FMR and its affiliates with (i) identifying events or circumstances the occurrence of which could have demonstrably adverse effects on the funds' business and/or reputation; (ii) implementing processes and controls to lessen the possibility that such events or circumstances occur or to mitigate the effects of such events or circumstances if they do occur; and (iii) creating and maintaining a system designed to evaluate continuously business and market conditions in order to facilitate the identification and implementation processes described in (i) and (ii) above.  Because the day-to-day operations and activities of the funds are carried out by or through FMR, its affiliates, and other service providers, the funds' exposure to risks is mitigated but not eliminated by the processes overseen by the Trustees.  While each of the Board's committees has responsibility for overseeing different aspects of the funds' activities, oversight is exercised primarily through the Operations, Audit, and Compliance Committees.  In addition, the Independent Trustees have worked with Fidelity to enhance the Board's oversight of investment and financial risks, legal and regulatory risks, technology risks, and operational risks, including the development of additional risk reporting to the Board.  Appropriate personnel, including but not limited to the funds' Chief Compliance Officer (CCO), FMR's internal auditor, the independent accountants, the funds' Treasurer and portfolio management personnel, make periodic reports to the Board's committees, as appropriate, including an annual review of Fidelity's risk management program for the Fidelity® funds.  The responsibilities of each standing committee, including their oversight responsibilities, are described further under "Standing Committees of the Trustees." 

Interested Trustees*:

Correspondence intended for a Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Jonathan Chiel (1957)

Year of Election or Appointment: 2016

Trustee

Mr. Chiel also serves as Trustee of other Fidelity® funds. Mr. Chiel is Executive Vice President and General Counsel for FMR LLC (diversified financial services company, 2012-present). Previously, Mr. Chiel served as general counsel (2004-2012) and senior vice president and deputy general counsel (2000-2004) for John Hancock Financial Services; a partner with Choate, Hall & Stewart (1996-2000) (law firm); and an Assistant United States Attorney for the United States Attorney’s Office of the District of Massachusetts (1986-95), including Chief of the Criminal Division (1993-1995). Mr. Chiel is a director on the boards of the Boston Bar Foundation and the Maimonides School.

James C. Curvey (1935)

Year of Election or Appointment: 2007

Trustee

Chairman of the Board of Trustees

Mr. Curvey also serves as Trustee of other Fidelity® funds. Mr. Curvey is Vice Chairman (2007-present) and Director of FMR LLC (diversified financial services company). In addition, Mr. Curvey is an Overseer Emeritus for the Boston Symphony Orchestra, a Director of Artis-Naples, and a Trustee of Brewster Academy in Wolfeboro, New Hampshire. Previously, Mr. Curvey served as a Director of Fidelity Research & Analysis Co. (investment adviser firm, 2009-2018), Director of Fidelity Investments Money Management, Inc. (investment adviser firm, 2009-2014) and a Director of FMR and FMR Co., Inc. (investment adviser firms, 2007-2014).

Charles S. Morrison (1960)

Year of Election or Appointment: 2014

Trustee

Mr. Morrison also serves as Trustee of other funds. He serves as President of Fidelity SelectCo, LLC (investment adviser firm, 2017-present) and Fidelity Management & Research Company (FMR) (investment adviser firm, 2016-present), a Director of Fidelity Investments Money Management, Inc. (FIMM) (investment adviser firm, 2014-present), Director of Fidelity SelectCo, LLC (investment adviser firm, 2014-present), President, Asset Management (2014-present), and is an employee of Fidelity Investments. Previously, Mr. Morrison served as Vice President of Fidelity's Fixed Income and Asset Allocation Funds (2012-2014), President, Fixed Income (2011-2014), Vice President of Fidelity's Money Market Funds (2005-2009), President, Money Market Group Leader of FMR (investment adviser firm, 2009), and Senior Vice President, Money Market Group of FMR (2004-2009). Mr. Morrison also served as Vice President of Fidelity's Bond Funds (2002-2005), certain Balanced Funds (2002-2005), and certain Asset Allocation Funds (2002-2007), and as Senior Vice President (2002-2005) of Fidelity's Bond Division.

 * Determined to be an “Interested Trustee” by virtue of, among other things, his or her affiliation with the trust or various entities under common control with FMR. 

 + The information includes the Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to the Trustee's qualifications to serve as a Trustee, which led to the conclusion that the Trustee should serve as a Trustee for each fund. 

Independent Trustees:

Correspondence intended for an Independent Trustee may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Dennis J. Dirks (1948)

Year of Election or Appointment: 2005

Trustee

Mr. Dirks also serves as Trustee of other Fidelity® funds. Prior to his retirement in May 2003, Mr. Dirks was Chief Operating Officer and a member of the Board of The Depository Trust & Clearing Corporation (DTCC). He also served as President, Chief Operating Officer, and Board member of The Depository Trust Company (DTC) and President and Board member of the National Securities Clearing Corporation (NSCC). In addition, Mr. Dirks served as Chief Executive Officer and Board member of the Government Securities Clearing Corporation, Chief Executive Officer and Board member of the Mortgage-Backed Securities Clearing Corporation, as a Trustee and a member of the Finance Committee of Manhattan College (2005-2008), as a Trustee and a member of the Finance Committee of AHRC of Nassau County (2006-2008), as a member of the Independent Directors Council (IDC) Governing Council (2010-2015), and as a member of the Board of Directors for The Brookville Center for Children’s Services, Inc. (2009-2017). Mr. Dirks is a member of the Finance Committee (2016-present), Board of Directors (2017-present) and Board of Trustees (2018-present) and is Treasurer (2018-present) of the Asolo Repertory Theatre.

Donald F. Donahue (1950)

Year of Election or Appointment: 2018

Trustee

Mr. Donahue also serves as a Trustee of other Fidelity® funds. Mr. Donahue is President and Chief Executive Officer of Miranda Partners, LLC (risk consulting for the financial services industry, 2012-present). Previously, Mr. Donahue served as a Member of the Advisory Board of certain Fidelity® funds (2015-2018) and Chief Executive Officer (2006-2012), Chief Operating Officer (2003-2006), and Managing Director, Customer Marketing and Development (1999-2003) of The Depository Trust & Clearing Corporation (financial markets infrastructure). Mr. Donahue serves as a Member (2007-present) and Co-Chairman (2016-present) of the Board of Directors of United Way of New York, Member of the Board of Directors of NYC Leadership Academy (2012-present) and Member of the Board of Advisors of Ripple Labs, Inc. (financial services, 2015-present). He also served as Chairman (2010-2012) and Member of the Board of Directors (2012-2013) of Omgeo, LLC (financial services), Treasurer of United Way of New York (2012-2016), and Member of the Board of Directors of XBRL US (financial services non-profit, 2009-2012) and the International Securities Services Association (2009-2012).

Alan J. Lacy (1953)

Year of Election or Appointment: 2008

Trustee

Mr. Lacy also serves as Trustee of other Fidelity® funds. Mr. Lacy serves as a Director of Bristol-Myers Squibb Company (global pharmaceuticals, 2008-present). He is a Trustee of the California Chapter of The Nature Conservancy (2015-present) and a Director of the Center for Advanced Study in the Behavioral Sciences at Stanford University (2015-present). In addition, Mr. Lacy served as Senior Adviser (2007-2014) of Oak Hill Capital Partners, L.P. (private equity) and also served as Chief Executive Officer (2005) and Vice Chairman (2005-2006) of Sears Holdings Corporation (retail) and Chief Executive Officer and Chairman of the Board of Sears, Roebuck and Co. (retail, 2000-2005). Previously, Mr. Lacy served as Chairman (2014-2017) and a member (2010-2017) of the Board of Directors of Dave & Buster’s Entertainment, Inc. (restaurant and entertainment complexes), as Chairman (2008-2011) and a member (2006-2015) of the Board of Trustees of the National Parks Conservation Association, and as a member of the Board of Directors for The Hillman Companies, Inc. (hardware wholesalers, 2010-2014), Earth Fare, Inc. (retail grocery, 2010-2014), and The Western Union Company (global money transfer, 2006-2011).

Ned C. Lautenbach (1944)

Year of Election or Appointment: 2000

Trustee

Chairman of the Independent Trustees

Mr. Lautenbach also serves as Trustee of other Fidelity® funds. Mr. Lautenbach currently serves as Vice Chair of the Board of Governors, State University System of Florida (2013-present) and is a member of the Council on Foreign Relations (1994-present). He is also a member and has most recently served as Chairman of the Board of Directors of Artis-Naples (2012-present). Previously, Mr. Lautenbach served as a member and then Lead Director of the Board of Directors of Eaton Corporation (diversified industrial, 1997-2016). He was also a Partner and Advisory Partner at Clayton, Dubilier & Rice, LLC (private equity investment, 1998-2010), as well as a Director of Sony Corporation (2006-2007). In addition, Mr. Lautenbach also had a 30-year career with IBM (technology company) during which time he served as Senior Vice President and a member of the Corporate Executive Committee (1968-1998).

Joseph Mauriello (1944)

Year of Election or Appointment: 2008

Trustee

Mr. Mauriello also serves as Trustee of other Fidelity® funds. Prior to his retirement in January 2006, Mr. Mauriello served in numerous senior management positions including Deputy Chairman and Chief Operating Officer (2004-2005), and Vice Chairman of Financial Services (2002-2004) of KPMG LLP US (professional services, 1965-2005). Mr. Mauriello currently serves as a member of the Independent Directors Council (IDC) Governing Council (2015-present). Previously, Mr. Mauriello served as a member of the Board of Directors of XL Group plc. (global insurance and re-insurance, 2006-2018).

Cornelia M. Small (1944)

Year of Election or Appointment: 2005

Trustee

Ms. Small also serves as Trustee of other Fidelity® funds. Ms. Small is a member of the Board of Directors (2009-present) and Chair of the Investment Committee (2010-present) of the Teagle Foundation. Ms. Small also serves on the Investment Committee of the Berkshire Taconic Community Foundation (2008-present). Previously, Ms. Small served as Chairperson (2002-2008) and a member of the Investment Committee and Chairperson (2008-2012) and a member of the Board of Trustees of Smith College. In addition, Ms. Small served as Chief Investment Officer, Director of Global Equity Investments, and a member of the Board of Directors of Scudder, Stevens & Clark and Scudder Kemper Investments.

Garnett A. Smith (1947)

Year of Election or Appointment: 2018

Trustee

Mr. Smith also serves as Trustee of other Fidelity® funds. Prior to Mr. Smith's retirement, he served as Chairman and Chief Executive Officer of Inbrand Corp. (manufacturer of personal absorbent products, 1990-1997). He also served as President (1986-1990) of Inbrand Corp. Prior to his employment with Inbrand Corp., he was employed by a retail fabric chain and North Carolina National Bank. In addition, Mr. Smith served as a Member of the Advisory Board of certain Fidelity® funds (2012-2013) and as a board member of the Jackson Hole Land Trust (2009-2012).

David M. Thomas (1949)

Year of Election or Appointment: 2008

Trustee

Mr. Thomas also serves as Trustee of other Fidelity® funds. Mr. Thomas serves as Non-Executive Chairman of the Board of Directors of Fortune Brands Home and Security (home and security products, 2011-present), as a member of the Board of Directors (2004-present) and Presiding Director (2013-present) of Interpublic Group of Companies, Inc. (marketing communication), and as a member of the Board of Trustees of the University of Florida (2013-present). Previously, Mr. Thomas served as Executive Chairman (2005-2006) and Chairman and Chief Executive Officer (2000-2005) of IMS Health, Inc. (pharmaceutical and healthcare information solutions), and a Director of Fortune Brands, Inc. (consumer products, 2000-2011).

 + The information includes the Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to the Trustee's qualifications to serve as a Trustee, which led to the conclusion that the Trustee should serve as a Trustee for each fund. 

Advisory Board Members and Officers:

Correspondence intended for a Member of the Advisory Board (if any) may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.  Correspondence intended for an officer or Peter S. Lynch may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.  Officers appear below in alphabetical order. 

Name, Year of Birth; Principal Occupation

Vicki L. Fuller (1957)

Year of Election or Appointment: 2018

Member of the Advisory Board

Ms. Fuller also serves as Member of the Advisory Board of other Fidelity® funds. Ms. Fuller serves as a member of the Board of Directors, Audit Committee, and Nominating and Governance Committee of The Williams Companies, Inc. (natural gas infrastructure, 2018-present). Previously, Ms. Fuller served as the Chief Investment Officer of the New York State Common Retirement Fund (2012-2018) and held a variety of positions at AllianceBernstein L.P. (global asset management, 1985-2012), including Managing Director (2006-2012) and Senior Vice President and Senior Portfolio Manager (2001-2006).

Peter S. Lynch (1944)

Year of Election or Appointment: 2003

Member of the Advisory Board

Mr. Lynch also serves as Member of the Advisory Board of other Fidelity® funds. Mr. Lynch is Vice Chairman and a Director of FMR (investment adviser firm) and FMR Co., Inc. (investment adviser firm). In addition, Mr. Lynch serves as a Trustee of Boston College and as the Chairman of the Inner-City Scholarship Fund. Previously, Mr. Lynch served on the Special Olympics International Board of Directors (1997-2006).

William S. Stavropoulos (1939)

Year of Election or Appointment: 2018

Member of the Advisory Board

Mr. Stavropoulos also serves as Member of the Advisory Board of other Fidelity® funds. Mr. Stavropoulos serves as President and Founder of the Michigan Baseball Foundation, the Great Lakes Loons (2007-present). Mr. Stavropoulos is Chairman Emeritus of the Board of Directors of The Dow Chemical Company, where he previously served in numerous senior management positions, including President, CEO (1995-2000; 2002-2004), Chairman of the Executive Committee (2000-2006), and as a member of the Board of Directors (1990-2006). Currently, Mr. Stavropoulos is Chairman of the Board of Directors of Univar Inc. (global distributor of commodity and specialty chemicals), a Director of Teradata Corporation (data warehousing and technology solutions), and a member of the Advisory Board for Metalmark Capital LLC (private equity investment, 2005-present). Mr. Stavropoulos is an operating advisor to Clayton, Dubilier & Rice, LLC (private equity investment). In addition, Mr. Stavropoulos is a member of the University of Notre Dame Advisory Council for the College of Science, a Trustee of the Rollin L. Gerstacker Foundation, and a Director of Artis-Naples in Naples, Florida. Previously, Mr. Stavropoulos served as Trustee of certain Fidelity® funds (2001-2018) and as a Director of Chemical Financial Corporation (bank holding company, 1993-2012) and Tyco International, Ltd. (multinational manufacturing and services, 2007-2012).

Carol B. Tomé (1957)

Year of Election or Appointment: 2018

Member of the Advisory Board

Ms. Tomé also serves as Member of the Advisory Board of other Fidelity® funds. Ms. Tomé is Chief Financial Officer (2001-present) and Executive Vice President of Corporate Services (2007-present) of The Home Depot, Inc. (home improvement retailer) and a Director (2003-present) and Chair of the Audit Committee (2004-present) of United Parcel Service, Inc. (package delivery and supply chain management). Previously, Ms. Tomé served as Trustee of certain Fidelity® funds (2017), Senior Vice President of Finance and Accounting/Treasurer (2000-2007) and Vice President and Treasurer (1995-2000) of The Home Depot, Inc. and Chair of the Board (2010-2012), Vice Chair of the Board (2009 and 2013), and a Director (2008-2013) of the Federal Reserve Bank of Atlanta. Ms. Tomé is also a director or trustee of many community and professional organizations.

Michael E. Wiley (1950)

Year of Election or Appointment: 2018

Member of the Advisory Board

Mr. Wiley also serves as Trustee or Member of the Advisory Board of other Fidelity® funds. Mr. Wiley serves as a Director of High Point Resources (exploration and production, 2005-present). Previously, Mr. Wiley served as a Director of Andeavor Corporation (independent oil refiner and marketer, 2005-2018), a Director of Andeavor Logistics LP (natural resources logistics, 2015-2018), a Director of Post Oak Bank (privately-held bank, 2004-2018), a Director of Asia Pacific Exploration Consolidated (international oil and gas exploration and production, 2008-2013), a member of the Board of Trustees of the University of Tulsa (2000-2006; 2007-2010), a Senior Energy Advisor of Katzenbach Partners, LLC (consulting, 2006-2007), an Advisory Director of Riverstone Holdings (private investment), a Director of Spinnaker Exploration Company (exploration and production, 2001-2005) and Chairman, President, and CEO of Baker Hughes, Inc. (oilfield services, 2000-2004).

Elizabeth Paige Baumann (1968)

Year of Election or Appointment: 2017

Anti-Money Laundering (AML) Officer

Ms. Baumann also serves as AML Officer of other funds. She is Chief AML Officer (2012-present) and Senior Vice President (2014-present) of FMR LLC (diversified financial services company) and is an employee of Fidelity Investments. Previously, Ms. Baumann served as AML Officer of the funds (2012-2016), and Vice President (2007-2014) and Deputy Anti-Money Laundering Officer (2007-2012) of FMR LLC.

John J. Burke III (1964)

Year of Election or Appointment: 2018

Chief Financial Officer

Mr. Burke also serves as Chief Financial Officer of other funds. Mr. Burke serves as Head of Investment Operations for Fidelity Fund and Investment Operations (2018-present) and is an employee of Fidelity Investments (1998-present). Previously Mr. Burke served as head of Asset Management Investment Operations (2012-2018).

William C. Coffey (1969)

Year of Election or Appointment: 2018

Secretary and Chief Legal Officer (CLO)

Mr. Coffey also serves as Secretary and CLO of other funds. Mr. Coffey serves as CLO, Secretary, and Senior Vice President of Fidelity Management & Research Company and FMR Co., Inc. (investment adviser firms, 2018-present); Secretary of Fidelity SelectCo, LLC and Fidelity Investments Money Management, Inc. (investment adviser firms, 2018-present); and CLO of Fidelity Management & Research (Hong Kong) Limited, FMR Investment Management (UK) Limited, and Fidelity Management & Research (Japan) Limited (investment adviser firms, 2018-present). He is Senior Vice President and Deputy General Counsel of FMR LLC (diversified financial services company, 2010-present), and is an employee of Fidelity Investments. Previously, Mr. Coffey served as Assistant Secretary of certain funds (2009-2018) and as Vice President and Associate General Counsel of FMR LLC (2005-2009).

Timothy M. Cohen (1969)

Year of Election or Appointment: 2018

Vice President

Mr. Cohen also serves as Vice President of other funds. Mr. Cohen serves as Co-Head of Global Equity Research (2016-present), a Director of Fidelity Management & Research (Japan) Limited (investment adviser firm, 2016-present), and is an employee of Fidelity Investments. Previously, Mr. Cohen served as Chief Investment Officer - Equity and a Director of Fidelity Management & Research (U.K.) Inc. (investment adviser firm, 2013-2015) and as a Director of Fidelity Management & Research (Hong Kong) Limited (investment adviser firm, 2017).

Jonathan Davis (1968)

Year of Election or Appointment: 2010

Assistant Treasurer

Mr. Davis also serves as Assistant Treasurer of other funds. Mr. Davis serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments. Previously, Mr. Davis served as Vice President and Associate General Counsel of FMR LLC (diversified financial services company, 2003-2010).

Adrien E. Deberghes (1967)

Year of Election or Appointment: 2016

Assistant Treasurer

Mr. Deberghes also serves as an officer of other funds. He serves as Assistant Treasurer of FMR Capital, Inc. (2017-present), Executive Vice President of Fidelity Investments Money Management, Inc. (FIMM) (investment adviser firm, 2016-present), and is an employee of Fidelity Investments (2008-present). Previously, Mr. Deberghes served as President and Treasurer of certain Fidelity® funds (2013-2018). Prior to joining Fidelity Investments, Mr. Deberghes was Senior Vice President of Mutual Fund Administration at State Street Corporation (2007-2008), Senior Director of Mutual Fund Administration at Investors Bank & Trust (2005-2007), and Director of Finance for Dunkin' Brands (2000-2005). Previously, Mr. Deberghes served in other fund officer roles.

Laura M. Del Prato (1964)

Year of Election or Appointment: 2018

Assistant Treasurer

Ms. Del Prato also serves as an officer of other funds. Ms. Del Prato is an employee of Fidelity Investments (2017-present). Prior to joining Fidelity Investments, Ms. Del Prato served as a Managing Director and Treasurer of the JPMorgan Mutual Funds (2014-2017). Prior to JPMorgan, Ms. Del Prato served as a partner at Cohen Fund Audit Services (accounting firm, 2012-2013) and KPMG LLP (accounting firm, 2004-2012).

Colm A. Hogan (1973)

Year of Election or Appointment: 2016

Deputy Treasurer

Mr. Hogan also serves as an officer of other funds. Mr. Hogan serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments (2005-present). Previously, Mr. Hogan served as Assistant Treasurer of certain Fidelity® funds (2016-2018). 

Pamela R. Holding (1964)

Year of Election or Appointment: 2018

Vice President

Ms. Holding also serves as Vice President of other funds. Ms. Holding serves as Co-Head of Global Equity Research (2018-present) and is an employee of Fidelity Investments (2013-present).

Chris Maher (1972)

Year of Election or Appointment: 2013

Assistant Treasurer

Mr. Maher serves as Assistant Treasurer of other funds. Mr. Maher is Vice President of Valuation Oversight, serves as Assistant Treasurer of FMR Capital, Inc. (2017-present), and is an employee of Fidelity Investments. Previously, Mr. Maher served as Vice President of Asset Management Compliance (2013), Vice President of the Program Management Group of FMR (investment adviser firm, 2010-2013), and Vice President of Valuation Oversight (2008-2010).

Rieco E. Mello (1969)

Year of Election or Appointment: 2017

Assistant Treasurer

Mr. Mello also serves as Assistant Treasurer of other funds. Mr. Mello serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments (1995-present).

Kenneth B. Robins (1969)

Year of Election or Appointment: 2016

Chief Compliance Officer

Mr. Robins also serves as an officer of other funds. Mr. Robins serves as Compliance Officer of Fidelity Management & Research Company and FMR Co., Inc. (investment adviser firms, 2016-present) and is an employee of Fidelity Investments (2004-present). Previously, Mr. Robins served as Executive Vice President of Fidelity Investments Money Management, Inc. (investment adviser firm, 2013-2016) and served in other fund officer roles.

Stacie M. Smith (1974)

Year of Election or Appointment: 2016

President and Treasurer

Ms. Smith also serves as an officer of other funds. Ms. Smith serves as Assistant Treasurer of FMR Capital, Inc. (2017-present), is an employee of Fidelity Investments (2009-present), and has served in other fund officer roles. Prior to joining Fidelity Investments, Ms. Smith served as Senior Audit Manager of Ernst & Young LLP (accounting firm, 1996-2009). Previously, Ms. Smith served as Assistant Treasurer (2013-2018) and Deputy Treasurer (2013-2016) of certain Fidelity® funds.

Marc L. Spector (1972)

Year of Election or Appointment: 2016

Assistant Treasurer

Mr. Spector also serves as an officer of other funds. Mr. Spector serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments (2016-present). Prior to joining Fidelity Investments, Mr. Spector served as Director at the Siegfried Group (accounting firm, 2013-2016), and prior to Siegfried Group as audit senior manager at Deloitte & Touche (accounting firm, 2005-2013).

Trustees and Officers - Fidelity Salem Street Trust

The Trustees, Members of the Advisory Board (if any), and officers of the trust and funds, as applicable, are listed below. The Board of Trustees governs each fund and is responsible for protecting the interests of shareholders. The Trustees are experienced executives who meet periodically throughout the year to oversee each fund's activities, review contractual arrangements with companies that provide services to each fund, oversee management of the risks associated with such activities and contractual arrangements, and review each fund's performance.  Except for Jonathan Chiel, each of the Trustees oversees 260 funds. Mr. Chiel oversees 154 funds. 

The Trustees hold office without limit in time except that (a) any Trustee may resign; (b) any Trustee may be removed by written instrument, signed by at least two-thirds of the number of Trustees prior to such removal; (c) any Trustee who requests to be retired or who has become incapacitated by illness or injury may be retired by written instrument signed by a majority of the other Trustees; and (d) any Trustee may be removed at any special meeting of shareholders by a two-thirds vote of the outstanding voting securities of the trust.  Each Trustee who is not an interested person (as defined in the 1940 Act) of the trust and the funds is referred to herein as an Independent Trustee.  Each Independent Trustee shall retire not later than the last day of the calendar year in which his or her 75th birthday occurs.  The Independent Trustees may waive this mandatory retirement age policy with respect to individual Trustees.  Officers and Advisory Board Members hold office without limit in time, except that any officer or Advisory Board Member may resign or may be removed by a vote of a majority of the Trustees at any regular meeting or any special meeting of the Trustees. Except as indicated, each individual has held the office shown or other offices in the same company for the past five years. 

Each fund’s Statement of Additional Information (SAI) includes more information about the Trustees. To request a free copy, call Fidelity at 1-800-544-8544.

Experience, Skills, Attributes, and Qualifications of the Trustees. The Governance and Nominating Committee has adopted a statement of policy that describes the experience, qualifications, attributes, and skills that are necessary and desirable for potential Independent Trustee candidates (Statement of Policy). The Board believes that each Trustee satisfied at the time he or she was initially elected or appointed a Trustee, and continues to satisfy, the standards contemplated by the Statement of Policy. The Governance and Nominating Committee also engages professional search firms to help identify potential Independent Trustee candidates who have the experience, qualifications, attributes, and skills consistent with the Statement of Policy. From time to time, additional criteria based on the composition and skills of the current Independent Trustees, as well as experience or skills that may be appropriate in light of future changes to board composition, business conditions, and regulatory or other developments, have also been considered by the professional search firms and the Governance and Nominating Committee. In addition, the Board takes into account the Trustees' commitment and participation in Board and committee meetings, as well as their leadership of standing and ad hoc committees throughout their tenure.

In determining that a particular Trustee was and continues to be qualified to serve as a Trustee, the Board has considered a variety of criteria, none of which, in isolation, was controlling. The Board believes that, collectively, the Trustees have balanced and diverse experience, qualifications, attributes, and skills, which allow the Board to operate effectively in governing each fund and protecting the interests of shareholders. Information about the specific experience, skills, attributes, and qualifications of each Trustee, which in each case led to the Board's conclusion that the Trustee should serve (or continue to serve) as a trustee of the funds, is provided below.

Board Structure and Oversight Function. Abigail P. Johnson is an interested person and currently serves as Chairman. The Trustees have determined that an interested Chairman is appropriate and benefits shareholders because an interested Chairman has a personal and professional stake in the quality and continuity of services provided to the funds. Independent Trustees exercise their informed business judgment to appoint an individual of their choosing to serve as Chairman, regardless of whether the Trustee happens to be independent or a member of management. The Independent Trustees have determined that they can act independently and effectively without having an Independent Trustee serve as Chairman and that a key structural component for assuring that they are in a position to do so is for the Independent Trustees to constitute a substantial majority for the Board. The Independent Trustees also regularly meet in executive session. Arthur E. Johnson serves as Chairman of the Independent Trustees and as such (i) acts as a liaison between the Independent Trustees and management with respect to matters important to the Independent Trustees and (ii) with management prepares agendas for Board meetings.

Fidelity® funds are overseen by different Boards of Trustees. The funds' Board oversees Fidelity's investment-grade bond, money market, asset allocation and certain equity funds, and other Boards oversee Fidelity's high income and other equity funds. The asset allocation funds may invest in Fidelity® funds that are overseen by such other Boards. The use of separate Boards, each with its own committee structure, allows the Trustees of each group of Fidelity® funds to focus on the unique issues of the funds they oversee, including common research, investment, and operational issues. On occasion, the separate Boards establish joint committees to address issues of overlapping consequences for the Fidelity® funds overseen by each Board.

The Trustees operate using a system of committees to facilitate the timely and efficient consideration of all matters of importance to the Trustees, each fund, and fund shareholders and to facilitate compliance with legal and regulatory requirements and oversight of the funds' activities and associated risks.  The Board, acting through its committees, has charged FMR and its affiliates with (i) identifying events or circumstances the occurrence of which could have demonstrably adverse effects on the funds' business and/or reputation; (ii) implementing processes and controls to lessen the possibility that such events or circumstances occur or to mitigate the effects of such events or circumstances if they do occur; and (iii) creating and maintaining a system designed to evaluate continuously business and market conditions in order to facilitate the identification and implementation processes described in (i) and (ii) above.  Because the day-to-day operations and activities of the funds are carried out by or through FMR, its affiliates, and other service providers, the funds' exposure to risks is mitigated but not eliminated by the processes overseen by the Trustees.  While each of the Board's committees has responsibility for overseeing different aspects of the funds' activities, oversight is exercised primarily through the Operations and Audit Committees.  In addition, an ad hoc Board committee of Independent Trustees has worked with FMR to enhance the Board's oversight of investment and financial risks, legal and regulatory risks, technology risks, and operational risks, including the development of additional risk reporting to the Board.  Appropriate personnel, including but not limited to the funds' Chief Compliance Officer (CCO), FMR's internal auditor, the independent accountants, the funds' Treasurer and portfolio management personnel, make periodic reports to the Board's committees, as appropriate, including an annual review of Fidelity's risk management program for the Fidelity® funds.  The responsibilities of each standing committee, including their oversight responsibilities, are described further under "Standing Committees of the Trustees." 

Interested Trustees*:

Correspondence intended for a Trustee who is an interested person may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Jonathan Chiel (1957)

Year of Election or Appointment: 2016

Trustee

Mr. Chiel also serves as Trustee of other Fidelity® funds. Mr. Chiel is Executive Vice President and General Counsel for FMR LLC (diversified financial services company, 2012-present). Previously, Mr. Chiel served as general counsel (2004-2012) and senior vice president and deputy general counsel (2000-2004) for John Hancock Financial Services; a partner with Choate, Hall & Stewart (1996-2000) (law firm); and an Assistant United States Attorney for the United States Attorney’s Office of the District of Massachusetts (1986-95), including Chief of the Criminal Division (1993-1995). Mr. Chiel is a director on the boards of the Boston Bar Foundation and the Maimonides School.

Abigail P. Johnson (1961)

Year of Election or Appointment: 2009

Trustee

Chairman of the Board of Trustees

Ms. Johnson also serves as Trustee of other Fidelity® funds. Ms. Johnson serves as Chairman (2016-present), Chief Executive Officer (2014-present), and Director (2007-present) of FMR LLC (diversified financial services company), President of Fidelity Financial Services (2012-present) and President of Personal, Workplace and Institutional Services (2005-present). Ms. Johnson is Chairman and Director of FMR Co., Inc. (investment adviser firm, 2011-present) and Chairman and Director of FMR (investment adviser firm, 2011-present). Previously, Ms. Johnson served as Vice Chairman (2007-2016) and President (2013-2016) of FMR LLC, President and a Director of FMR (2001-2005), a Trustee of other investment companies advised by FMR, Fidelity Investments Money Management, Inc. (investment adviser firm), and FMR Co., Inc. (2001-2005), Senior Vice President of the Fidelity® funds (2001-2005), and managed a number of Fidelity® funds. Ms. Abigail P. Johnson and Mr. Arthur E. Johnson are not related.

Jennifer Toolin McAuliffe (1959)

Year of Election or Appointment: 2016

Trustee

Ms. McAuliffe also serves as Trustee of other Fidelity® funds. Ms. McAuliffe previously served as a Member of the Advisory Board of certain Fidelity® funds (2016) and as Co-Head of Fixed Income of Fidelity Investments Limited (now known as FIL Limited (FIL)) (diversified financial services company). Earlier roles at FIL included Director of Research for FIL’s credit and quantitative teams in London, Hong Kong and Tokyo. Ms. McAuliffe also was the Director of Research for taxable and municipal bonds at Fidelity Investments Money Management, Inc. Ms. McAuliffe is also a director or trustee of several not-for-profit entities.

 * Determined to be an “Interested Trustee” by virtue of, among other things, his or her affiliation with the trust or various entities under common control with FMR. 

 + The information includes the Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to the Trustee's qualifications to serve as a Trustee, which led to the conclusion that the Trustee should serve as a Trustee for each fund. 

Independent Trustees:

Correspondence intended for an Independent Trustee may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.

Name, Year of Birth; Principal Occupations and Other Relevant Experience+

Elizabeth S. Acton (1951)

Year of Election or Appointment: 2013

Trustee

Ms. Acton also serves as Trustee of other Fidelity® funds. Prior to her retirement in April 2012, Ms. Acton was Executive Vice President, Finance (2011-2012), Executive Vice President, Chief Financial Officer (2002-2011), and Treasurer (2004-2005) of Comerica Incorporated (financial services). Prior to joining Comerica, Ms. Acton held a variety of positions at Ford Motor Company (1983-2002), including Vice President and Treasurer (2000-2002) and Executive Vice President and Chief Financial Officer of Ford Motor Credit Company (1998-2000). Ms. Acton currently serves as a member of the Board of Directors and Audit and Finance Committees of Beazer Homes USA, Inc. (homebuilding, 2012-present). Previously, Ms. Acton served as a Member of the Advisory Board of certain Fidelity® funds (2013-2016).

John Engler (1948)

Year of Election or Appointment: 2014

Trustee

Mr. Engler also serves as Trustee of other Fidelity® funds. He serves on the board of directors for Universal Forest Products (manufacturer and distributor of wood and wood-alternative products, 2003-present) and K12 Inc. (technology-based education company, 2012-present). Previously, Mr. Engler served as a Member of the Advisory Board of certain Fidelity® funds (2014-2016), president of the Business Roundtable (2011-2017), a trustee of The Munder Funds (2003-2014), president and CEO of the National Association of Manufacturers (2004-2011), member of the Board of Trustees of the Annie E. Casey Foundation (2004-2015), and as governor of Michigan (1991-2003). He is a past chairman of the National Governors Association.

Albert R. Gamper, Jr. (1942)

Year of Election or Appointment: 2006

Trustee

Mr. Gamper also serves as Trustee of other Fidelity® funds. Prior to his retirement in December 2004, Mr. Gamper served as Chairman of the Board of CIT Group Inc. (commercial finance). During his tenure with CIT Group Inc. Mr. Gamper served in numerous senior management positions, including Chairman (1987-1989; 1999-2001; 2002-2004), Chief Executive Officer (1987-2004), and President (2002-2003). Mr. Gamper currently serves as a member of the Board of Directors of Public Service Enterprise Group (utilities, 2000-present), and Member of the Board of Trustees of Barnabas Health Care System (1997-present). Previously, Mr. Gamper served as Chairman (2012-2015) and Vice Chairman (2011-2012) of the Independent Trustees of certain Fidelity® funds and as Chairman of the Board of Governors, Rutgers University (2004-2007).

Robert F. Gartland (1951)

Year of Election or Appointment: 2010

Trustee

Mr. Gartland also serves as Trustee of other Fidelity® funds. Mr. Gartland is Chairman and an investor in Gartland & Mellina Group Corp. (consulting, 2009-present). Previously, Mr. Gartland served as a partner and investor of Vietnam Partners LLC (investments and consulting, 2008-2011). Prior to his retirement, Mr. Gartland held a variety of positions at Morgan Stanley (financial services, 1979-2007), including Managing Director (1987-2007), and Chase Manhattan Bank (1975-1978).

Arthur E. Johnson (1947)

Year of Election or Appointment: 2008

Trustee

Chairman of the Independent Trustees

Mr. Johnson also serves as Trustee of other Fidelity® funds. Mr. Johnson serves as a member of the Board of Directors of Eaton Corporation plc (diversified power management, 2009-present) and Booz Allen Hamilton (management consulting, 2011-present). Prior to his retirement, Mr. Johnson served as Senior Vice President of Corporate Strategic Development of Lockheed Martin Corporation (defense contractor, 1999-2009). He previously served on the Board of Directors of IKON Office Solutions, Inc. (1999-2008), AGL Resources, Inc. (holding company, 2002-2016), and Delta Airlines (2005-2007). Mr. Arthur E. Johnson is not related to Ms. Abigail P. Johnson.

Michael E. Kenneally (1954)

Year of Election or Appointment: 2009

Trustee

Vice Chairman of the Independent Trustees

Mr. Kenneally also serves as Trustee of other Fidelity® funds. Prior to his retirement, Mr. Kenneally served as Chairman and Global Chief Executive Officer of Credit Suisse Asset Management. Before joining Credit Suisse, he was an Executive Vice President and Chief Investment Officer for Bank of America Corporation. Earlier roles at Bank of America included Director of Research, Senior Portfolio Manager and Research Analyst, and Mr. Kenneally was awarded the Chartered Financial Analyst (CFA) designation in 1991.

Marie L. Knowles (1946)

Year of Election or Appointment: 2001

Trustee

Ms. Knowles also serves as Trustee of other Fidelity® funds. Prior to Ms. Knowles' retirement in June 2000, she served as Executive Vice President and Chief Financial Officer of Atlantic Richfield Company (ARCO) (diversified energy, 1996-2000). From 1993 to 1996, she was a Senior Vice President of ARCO and President of ARCO Transportation Company (pipeline and tanker operations). Ms. Knowles currently serves as a Director and Chairman of the Audit Committee of McKesson Corporation (healthcare service, since 2002). Ms. Knowles is a member of the Board of the Santa Catalina Island Company (real estate, 2009-present). Ms. Knowles is a Member of the Investment Company Institute Board of Governors and a Member of the Governing Council of the Independent Directors Council (2014-present). She also serves as a member of the Advisory Board for the School of Engineering of the University of Southern California. Previously, Ms. Knowles served as a Director of Phelps Dodge Corporation (copper mining and manufacturing, 1994-2007), URS Corporation (engineering and construction, 2000-2003) and America West (airline, 1999-2002). Ms. Knowles previously served as Vice Chairman of the Independent Trustees of certain Fidelity® funds (2012-2015).

Mark A. Murray (1954)

Year of Election or Appointment: 2016

Trustee

Mr. Murray also serves as Trustee of other Fidelity® funds. Mr. Murray is Vice Chairman (2013-present) of Meijer, Inc. (regional retail chain). Previously, Mr. Murray served as a Member of the Advisory Board of certain Fidelity® funds (2016) and as Co-Chief Executive Officer (2013-2016) and President (2006-2013) of Meijer, Inc. Mr. Murray serves as a member of the Board of Directors and Nuclear Review and Public Policy and Responsibility Committees of DTE Energy Company (diversified energy company, 2009-present). Mr. Murray also serves as a member of the Board of Directors of Spectrum Health (not-for-profit health system, 2015-present). Mr. Murray previously served as President of Grand Valley State University (2001-2006), Treasurer for the State of Michigan (1999-2001), Vice President of Finance and Administration for Michigan State University (1998-1999), and a member of the Board of Directors and Audit Committee and Chairman of the Nominating and Corporate Governance Committee of Universal Forest Products, Inc. (manufacturer and distributor of wood and wood-alternative products, 2004-2016). Mr. Murray is also a director or trustee of many community and professional organizations.

 + The information includes the Trustee's principal occupation during the last five years and other information relating to the experience, attributes, and skills relevant to the Trustee's qualifications to serve as a Trustee, which led to the conclusion that the Trustee should serve as a Trustee for each fund. 

Advisory Board Members and Officers:

Correspondence intended for a Member of the Advisory Board (if any) may be sent to Fidelity Investments, P.O. Box 55235, Boston, Massachusetts 02205-5235.  Correspondence intended for an officer may be sent to Fidelity Investments, 245 Summer Street, Boston, Massachusetts 02210.  Officers appear below in alphabetical order. 

Name, Year of Birth; Principal Occupation

Ann E. Dunwoody (1953)

Year of Election or Appointment: 2018

Member of the Advisory Board

General Dunwoody also serves as a Member of the Advisory Board of other Fidelity® funds. General Dunwoody (United States Army, Retired) was the first woman in U.S. military history to achieve the rank of four-star general and prior to her retirement in 2012 held a variety of positions within the U.S. Army, including Commanding General, U.S. Army Material Command (2008-2012). She is the President of First to Four LLC (leadership and mentoring services, 2012-present). She also serves as a member of the Board of Directors and Nominating and Corporate Governance Committee of L3 Technologies, Inc. (communication, electronic, sensor, and aerospace systems, 2013-present), Board of Directors and Nomination and Corporate Governance Committees of Kforce Inc. (professional staffing services, 2016-present) and Board of Directors of Automattic Inc. (software engineering, 2018-present). Previously, General Dunwoody served as a member of the Board of Directors and Audit and Sustainability and Corporate Responsibility Committees of Republic Services, Inc. (waste collection, disposal and recycling, 2013-2016). Ms. Dunwoody also serves on several boards for non-profit organizations, including as a member of the Board of Directors, Chair of the Nomination and Governance Committee and member of the Audit Committee of Logistics Management Institute (consulting non-profit, 2012-present), a member of the Board of Directors of the Army Historical Foundation (2015-present), a member of the Council of Trustees for the Association of the United States Army (advocacy non-profit, 2013-present) and a member of the Board of Trustees of Florida Institute of Technology (2015-present) and ThanksUSA (military family education non-profit, 2014-present).

Elizabeth Paige Baumann (1968)

Year of Election or Appointment: 2017

Anti-Money Laundering (AML) Officer

Ms. Baumann also serves as AML Officer of other funds. She is Chief AML Officer (2012-present) and Senior Vice President (2014-present) of FMR LLC (diversified financial services company) and is an employee of Fidelity Investments. Previously, Ms. Baumann served as AML Officer of the funds (2012-2016), and Vice President (2007-2014) and Deputy Anti-Money Laundering Officer (2007-2012) of FMR LLC.

John J. Burke III (1964)

Year of Election or Appointment: 2018

Chief Financial Officer

Mr. Burke also serves as Chief Financial Officer of other funds. Mr. Burke serves as Head of Investment Operations for Fidelity Fund and Investment Operations (2018-present) and is an employee of Fidelity Investments (1998-present). Previously Mr. Burke served as head of Asset Management Investment Operations (2012-2018).

William C. Coffey (1969)

Year of Election or Appointment: 2018

Secretary and Chief Legal Officer (CLO)

Mr. Coffey also serves as Secretary and CLO of other funds. Mr. Coffey serves as CLO, Secretary, and Senior Vice President of Fidelity Management & Research Company and FMR Co., Inc. (investment adviser firms, 2018-present); Secretary of Fidelity SelectCo, LLC and Fidelity Investments Money Management, Inc. (investment adviser firms, 2018-present); and CLO of Fidelity Management & Research (Hong Kong) Limited, FMR Investment Management (UK) Limited, and Fidelity Management & Research (Japan) Limited (investment adviser firms, 2018-present). He is Senior Vice President and Deputy General Counsel of FMR LLC (diversified financial services company, 2010-present), and is an employee of Fidelity Investments. Previously, Mr. Coffey served as Assistant Secretary of certain funds (2009-2018) and as Vice President and Associate General Counsel of FMR LLC (2005-2009).

Jonathan Davis (1968)

Year of Election or Appointment: 2010

Assistant Treasurer

Mr. Davis also serves as Assistant Treasurer of other funds. Mr. Davis serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments. Previously, Mr. Davis served as Vice President and Associate General Counsel of FMR LLC (diversified financial services company, 2003-2010).

Adrien E. Deberghes (1967)

Year of Election or Appointment: 2010

Assistant Treasurer

Mr. Deberghes also serves as an officer of other funds. He serves as Assistant Treasurer of FMR Capital, Inc. (2017-present), Executive Vice President of Fidelity Investments Money Management, Inc. (FIMM) (investment adviser firm, 2016-present), and is an employee of Fidelity Investments (2008-present). Previously, Mr. Deberghes served as President and Treasurer of certain Fidelity® funds (2013-2018). Prior to joining Fidelity Investments, Mr. Deberghes was Senior Vice President of Mutual Fund Administration at State Street Corporation (2007-2008), Senior Director of Mutual Fund Administration at Investors Bank & Trust (2005-2007), and Director of Finance for Dunkin' Brands (2000-2005). Previously, Mr. Deberghes served in other fund officer roles.

Laura M. Del Prato (1964)

Year of Election or Appointment: 2018

President and Treasurer

Ms. Del Prato also serves as an officer of other funds. Ms. Del Prato is an employee of Fidelity Investments (2017-present). Prior to joining Fidelity Investments, Ms. Del Prato served as a Managing Director and Treasurer of the JPMorgan Mutual Funds (2014-2017). Prior to JPMorgan, Ms. Del Prato served as a partner at Cohen Fund Audit Services (accounting firm, 2012-2013) and KPMG LLP (accounting firm, 2004-2012).

Colm A. Hogan (1973)

Year of Election or Appointment: 2016

Assistant Treasurer

Mr. Hogan also serves as an officer of other funds. Mr. Hogan serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments (2005-present). Previously, Mr. Hogan served as Assistant Treasurer of certain Fidelity® funds (2016-2018). 

Chris Maher (1972)

Year of Election or Appointment: 2013

Assistant Treasurer

Mr. Maher serves as Assistant Treasurer of other funds. Mr. Maher is Vice President of Valuation Oversight, serves as Assistant Treasurer of FMR Capital, Inc. (2017-present), and is an employee of Fidelity Investments. Previously, Mr. Maher served as Vice President of Asset Management Compliance (2013), Vice President of the Program Management Group of FMR (investment adviser firm, 2010-2013), and Vice President of Valuation Oversight (2008-2010).

John B. McGinty, Jr. (1962)

Year of Election or Appointment: 2016

Chief Compliance Officer

Mr. McGinty also serves as Chief Compliance Officer of other funds. Mr. McGinty is Senior Vice President of Asset Management Compliance for Fidelity Investments and is an employee of Fidelity Investments (2016-present). Mr. McGinty previously served as Vice President, Senior Attorney at Eaton Vance Management (investment management firm, 2015-2016), and prior to Eaton Vance as global CCO for all firm operations and registered investment companies at GMO LLC (investment management firm, 2009-2015). Before joining GMO LLC, Mr. McGinty served as Senior Vice President, Deputy General Counsel for Fidelity Investments (2007-2009).

Rieco E. Mello (1969)

Year of Election or Appointment: 2017

Assistant Treasurer

Mr. Mello also serves as Assistant Treasurer of other funds. Mr. Mello serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments (1995-present).

Jason P. Pogorelec (1975)

Year of Election or Appointment: 2015

Assistant Secretary

Mr. Pogorelec also serves as Assistant Secretary of other funds. Mr. Pogorelec serves as Vice President, Associate General Counsel (2010-present) and is an employee of Fidelity Investments (2006-present).

Nancy D. Prior (1967)

Year of Election or Appointment: 2014

Vice President

Ms. Prior also serves as Vice President of other funds. Ms. Prior serves as President Fixed Income, High Income/Emerging Market Debt and Multi Asset Class Strategies of FIAM LLC (2018-present), President (2016-present) and Director (2014-present) of Fidelity Investments Money Management, Inc. (FIMM) (investment adviser firm), President, Fixed Income (2014-present), and is an employee of Fidelity Investments (2002-present). Previously, Ms. Prior served as Vice Chairman of FIAM LLC (investment adviser firm, 2014-2018), a Director of FMR Investment Management (UK) Limited (investment adviser firm, 2015-2018), President Multi-Asset Class Strategies of FMR's Global Asset Allocation Division (2017-2018), Vice President of Fidelity's Money Market Funds (2012-2014), President, Money Market and Short Duration Bond Group of Fidelity Management & Research (FMR) (investment adviser firm, 2013-2014), President, Money Market Group of FMR (2011-2013), Managing Director of Research (2009-2011), Senior Vice President and Deputy General Counsel (2007-2009), and Assistant Secretary of certain Fidelity® funds (2008-2009).

Stacie M. Smith (1974)

Year of Election or Appointment: 2013

Assistant Treasurer

Ms. Smith also serves as an officer of other funds. Ms. Smith serves as Assistant Treasurer of FMR Capital, Inc. (2017-present), is an employee of Fidelity Investments (2009-present), and has served in other fund officer roles. Prior to joining Fidelity Investments, Ms. Smith served as Senior Audit Manager of Ernst & Young LLP (accounting firm, 1996-2009). Previously, Ms. Smith served as Assistant Treasurer (2013-2018) and Deputy Treasurer (2013-2016) of certain Fidelity® funds.

Marc L. Spector (1972)

Year of Election or Appointment: 2016

Deputy Treasurer

Mr. Spector also serves as an officer of other funds. Mr. Spector serves as Assistant Treasurer of FMR Capital, Inc. (2017-present) and is an employee of Fidelity Investments (2016-present). Prior to joining Fidelity Investments, Mr. Spector served as Director at the Siegfried Group (accounting firm, 2013-2016), and prior to Siegfried Group as audit senior manager at Deloitte & Touche (accounting firm, 2005-2013).

Shareholder Expense Example

As a shareholder of a Fund, you incur two types of costs: (1) transaction costs and (2) ongoing costs, including other Fund expenses. This Example is intended to help you understand your ongoing costs (in dollars) of investing in the Funds and to compare these costs with the ongoing costs of investing in other mutual funds.

The actual expense Example is based on an investment of $1,000 invested at the beginning of the period and held for the period (August 2, 2018 to October 31, 2018) for Fidelity ZERO Total Market Index Fund and Fidelity ZERO International Index Fund and for the period (September 13, 2018 to October 31, 2018) for Fidelity ZERO Extended Market Index Fund and Fidelity ZERO Large Cap Index Fund. The hypothetical expense Example is based on an investment of $1,000 invested for the one-half year period (May 1, 2018 to October 31, 2018).

Actual Expenses

The first line of the accompanying table for each fund 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 fund under the heading entitled "Expenses Paid During Period" to estimate the expenses you paid on your account during this period. In addition, each Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's 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 for each fund provides information about hypothetical account values and hypothetical expenses based on a fund's actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund's actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in 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. In addition, each Fund, as a shareholder in the underlying Fidelity Central Funds, will indirectly bear its pro-rata share of the fees and expenses incurred by the underlying Fidelity Central Funds. These fees and expenses are not included in the Fund's 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.

 Annualized Expense Ratio-A Beginning
Account Value 		Ending
Account Value
October 31, 2018 		Expenses Paid
During Period 
Fidelity ZERO Extended Market Index Fund - %-B    
Actual  $1,000.00 $899.00 $-C,D 
Hypothetical-E  $1,000.00 $1,025.21 $-D,F 
Fidelity ZERO International Index Fund - %-B    
Actual  $1,000.00 $913.00 $-C,D 
Hypothetical-E  $1,000.00 $1,025.21 $-D,F 
Fidelity ZERO Large Cap Index Fund - %-B    
Actual  $1,000.00 $935.00 $-C,D 
Hypothetical-E  $1,000.00 $1,025.21 $-D,F 
Fidelity ZERO Total Market Index Fund - %-B    
Actual  $1,000.00 $956.00 $-C,D 
Hypothetical-E  $1,000.00 $1,025.21 $-D,F 

 A Annualized expense ratio reflects expenses net of applicable fee waivers.

 B Amount less than .005%.

 C Actual expenses are equal to each Funds' annualized expense ratio, multiplied by the average account value over the period, multiplied by 91/365 (to reflect the period August 2, 2018 to October 31, 2018) for Fidelity ZERO Total Market Index Fund and Fidelity ZERO International Index Fund and multiplied by 49/365 (to reflect the period September 13, 2018 to October 31, 2018) for Fidelity ZERO Extended Market Index Fund and Fidelity ZERO Large Cap Index Fund.

 D Amount less than $.005.

 E 5% return per year before expenses

 F Hypothetical expenses are equal to each Fund's annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period).

Distributions (Unaudited)

The Board of Trustees of each fund voted to pay to shareholders of record at the opening of business on record date, the following distributions per share derived from capital gains realized from sales of portfolio securities, and dividends derived from net investment income:

 Pay Date Record Date Dividends Capital Gains 
Fidelity ZERO Extended Market Index Fund 12/17/2018 12/14/2018 $0.038 $0.000 
Fidelity ZERO International Index Fund 12/17/2018 12/14/2018 $0.056 $0.000 
Fidelity ZERO Large Cap Index Fund 12/17/2018 12/14/2018 $0.035 $0.000 
Fidelity ZERO Total Market Index Fund 12/17/2018 12/14/2018 $0.053 $0.003 

The funds hereby designate as capital gain dividend the amounts noted below for the taxable year ended October 31, 2018, or, if subsequently determined to be different, the net capital gain of such year.

Fidelity ZERO Total Market Index Fund $84,503 

The funds will notify shareholders in January 2019 of amounts for use in preparing 2018 income tax returns.

Board Approval of Investment Advisory Contracts and Management Fees

Fidelity ZERO Extended Market Index Fund
Fidelity ZERO Large Cap Index Fund  On July 18, 2018, the Board of Trustees, including the Independent Trustees (together, the Board), voted to approve the management contract with FMR Co, Inc. (FMRC) and the sub-advisory agreement (together, the Advisory Contracts) for each fund with Geode Capital Management, LLC (Geode). FMRC and Geode are collectively referred to herein as the Investment Advisers. The Board, assisted by the advice of fund counsel and Independent Trustees’ counsel, considered a broad range of information.

Nature, Extent, and Quality of Services Provided.  The Board considered staffing as it relates to the funds, including the backgrounds of investment personnel of Fidelity and Geode, and also considered the funds' investment objectives, strategies, and related investment philosophies. The Board considered the structure of the investment personnel compensation program and whether this structure provides appropriate incentives to act in the best interests of each fund.

Resources Dedicated to Investment Management and Support Services.  The Board and the Fund Oversight and Research Committees reviewed the general qualifications and capabilities of Fidelity's and Geode's investment staffs, including their size, education, experience, and resources, as well as Fidelity's approach to recruiting, training, managing, and compensating investment personnel. The Board noted that Fidelity has continued to increase the resources devoted to non-U.S. offices, including expansion of Fidelity's global investment organization. Additionally, in its deliberations, the Board considered Fidelity's and Geode's trading, risk management, compliance, and technology and operations capabilities and resources, which are integral parts of the investment management process.

Shareholder and Administrative Services.  The Board considered the nature, extent, quality, and cost of advisory, administrative, and shareholder services to be performed by the Investment Advisers, and their affiliates under the Advisory Contracts and under separate agreements covering transfer agency, pricing and bookkeeping, and securities lending services for each fund. The Board also considered the nature and extent of the supervision of third party service providers, principally custodians, subcustodians, and pricing vendors.

The Board noted that the growth of fund assets over time across the complex allows Fidelity to reinvest in the development of services designed to enhance the value or convenience of the Fidelity funds as investment vehicles. These services include 24-hour access to account information and market information through telephone representatives and over the Internet, investor education materials and asset allocation tools, and the expanded availability of Fidelity Investor Centers.

Investment Performance.  Each fund is a new fund and therefore had no historical performance for the Board to review at the time it approved each fund’s Advisory Contracts.

Based on its review, the Board concluded that the nature, extent, and quality of services to be provided to each fund under the Advisory Contracts should benefit the shareholders of each fund.

Competitiveness of Management Fee and Total Expense Ratio.   The Board considered that the fund will not pay FMRC a management fee for investment advisory services. In reviewing the Advisory Contracts, the Board also considered the projected total expense ratio of the fund. The Board noted that FMRC or an affiliate undertakes to pay all operating expenses of the fund, except Independent Trustee fees and expenses.

Based on its review, the Board concluded that the funds’ management fees and projected total expense ratios were reasonable in light of the services that the fund and its shareholders will receive and the other factors considered.

Costs of the Services and Profitability.  Each fund is a new fund and therefore no revenue, cost, or profitability data was available for the Board to review in respect of each fund at the time it approved the Advisory Contracts. In connection with its future renewal of the fund's Advisory Contracts, the Board will consider the level of Fidelity's profits in respect of all the Fidelity funds.

Economies of Scale.  The Board concluded that, because the fund will pay no advisory fees and FMRC or an affiliate will bear all expenses of the fund, with limited exceptions, economies of scale cannot be realized by the funds.

Based on its evaluation of all of the conclusions noted above, and after considering all factors it believed relevant, the Board concluded that the advisory and sub-advisory fee structures are fair and reasonable, and that each fund's Advisory Contracts should be approved.

Board Approval of Investment Advisory Contracts and Management Fees

Fidelity ZERO International Index Fund
Fidelity ZERO Total Market Index Fund

At its July 2018 meeting, the Board of Trustees, including the Independent Trustees (together, the Board), voted to approve the management contract with FMR Co., Inc. (FMRC) and the sub-advisory agreement (together, the Advisory Contracts) for each fund with Geode Capital Management, LLC (Geode). FMRC and Geode are collectively referred to herein as the Investment Advisers. The Board, assisted by the advice of fund counsel and Independent Trustees' counsel, considered a broad range of information.

Nature, Extent, and Quality of Services Provided.  The Board considered staffing as it relates to the funds, including the backgrounds of investment personnel of Fidelity and Geode, and also considered the funds' investment objectives, strategies, and related investment philosophies. The Board considered the structure of the investment personnel compensation program and whether this structure provides appropriate incentives to act in the best interests of each fund.

Resources Dedicated to Investment Management and Support Services.  The Board reviewed the general qualifications and capabilities of Fidelity's and Geode's investment staffs, including their size, education, experience, and resources, as well as Fidelity's and Geode's approach to recruiting, training, managing, and compensating investment personnel. The Board noted that Fidelity has continued to increase the resources devoted to non-U.S. offices, including expansion of Fidelity's global investment organization. Additionally, in its deliberations, the Board considered Fidelity's and Geode's trading, risk management, compliance, and technology and operations capabilities and resources, which are integral parts of the investment management process.

Shareholder and Administrative Services.  The Board considered (i) the nature, extent, quality, and cost of advisory, administrative, and shareholder services performed by the Investment Advisers and their affiliates under the Advisory Contracts and under separate agreements covering transfer agency, pricing and bookkeeping, and securities lending services for the fund; (ii) the nature and extent of the supervision of third party service providers, principally custodians, subcustodians, and pricing vendors; and (iii) the resources devoted to, and the record of compliance with, the fund's compliance policies and procedures.

The Board noted that the growth of fund assets over time across the complex allows Fidelity to reinvest in the development of services designed to enhance the value and convenience of the Fidelity funds as investment vehicles. These services include 24-hour access to account information and market information through telephone representatives and over the Internet, investor education materials and asset allocation tools, and the expanded availability of Fidelity Investor Centers.

Investment Performance.  Each fund is a new fund and therefore had no historical performance for the Board to review at the time it approved each fund's Advisory Contracts.

Based on its review, the Board concluded that the nature, extent, and quality of services to be provided to each fund under the Advisory Contracts should benefit the shareholders of each fund.

Competitiveness of Management Fee and Total Expense Ratio.  The Board considered that the fund will not pay FMRC a management fee for investment advisory services. In reviewing the Advisory Contracts, the Board also considered the projected total expense ratio of the fund. The Board noted that FMRC or an affiliate undertakes to pay all operating expenses of the fund, except Independent Trustee fees and expenses.

Based on its review, the Board concluded that the funds' management fees and projected total expense ratios were reasonable in light of the services that the fund and its shareholders will receive and the other factors considered.

Costs of the Services and Profitability  Each fund is a new fund and therefore no revenue, cost, or profitability data was available for the Board to review in respect of each fund at the time it approved the Advisory Contracts. In connection with its future renewal of the fund's Advisory Contracts, the Board will consider the level of Fidelity's profits in respect of all the Fidelity funds.

Economies of Scale.  The Board concluded that, because the fund will pay no advisory fees and FMRC or an affiliate will bear all expenses of the fund, with limited exceptions, the realization of economies of scale was not a material factor in the Board’s decision to approve the funds’ Advisory Contracts.

Based on its evaluation of all of the conclusions noted above, and after considering all factors it believed relevant, the Board concluded that the advisory and sub-advisory fee arrangements are fair and reasonable, and that each fund's Advisory Contracts should be approved.





Fidelity Investments

EML-ANN-1218
1.9891446.100




Item 2.

Code of Ethics


As of the end of the period, October 31, 2018, Fidelity Concord Street Trust (the trust) has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its President and Treasurer and its Chief Financial Officer.  A copy of the code of ethics is filed as an exhibit to this Form N-CSR.


Item 3.

Audit Committee Financial Expert


The Board of Trustees of the trust has determined that Joseph Mauriello is an audit committee financial expert, as defined in Item 3 of Form N-CSR.   Mr. Mauriello is independent for purposes of Item 3 of Form N-CSR.  


Item 4.  

Principal Accountant Fees and Services


Fees and Services


The following table presents fees billed by Deloitte & Touche LLP, the member firms of Deloitte Touche Tohmatsu, and their respective affiliates (collectively, “Deloitte Entities”) in each of the last two fiscal years for services rendered to Fidelity Series International Index Fund, Fidelity Zero Extended Market Index Fund and Fidelity Zero Large Cap Index Fund (the “Funds”):


Services Billed by Deloitte Entities


October 31, 2018 FeesA,B

 

Audit Fees

Audit-Related Fees

Tax Fees

All Other Fees

Fidelity Series International Index Fund

 $52,000

$-

 $6,000

$300

Fidelity Zero Extended Market Index Fund

 $56,000

$-

 $4,800

$100

Fidelity Zero Large Cap Index Fund

 $39,000

$-

 $4,800

$100



October 31, 2017 FeesB

 

Audit Fees

Audit-Related Fees

Tax Fees

All Other Fees

Fidelity Series International Index Fund

 $-

$-

 $-

$-

Fidelity Zero Extended Market Index Fund

 $-

$-

 $-

$-

Fidelity Zero Large Cap Index Fund

 $-

$-

 $-

$-



A Amounts may reflect rounding.

B Fidelity Series International Index Fund commenced operations on August 17, 2018 and Fidelity Zero Extended Market Index Fund and Fidelity Zero Large Cap Index Fund commenced operations on September 13, 2018.



The following table presents fees billed by Deloitte Entities that were required to be approved by the Audit Committee for services that relate directly to the operations and financial reporting of the Funds and that are rendered on behalf of Fidelity Management & Research Company (“FMR”) and entities controlling, controlled by, or under common control with FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser) that provide ongoing services to the Funds (“Fund Service Providers”):


Services Billed by Deloitte Entities



 

October 31, 2018A,B

October 31, 2017B

Audit-Related Fees

 $290,000

 $-

Tax Fees

$5,000

$-

All Other Fees

$-

$-


A Amounts may reflect rounding.

B May include amounts billed prior to the Fidelity Series International Index Fund, Fidelity Zero Extended Market Index Fund and Fidelity Zero Large Cap Index Funds’ commencement of operations.



“Audit-Related Fees” represent fees billed for assurance and related services that are reasonably related to the performance of the fund audit or the review of the fund's financial statements and that are not reported under Audit Fees.


“Tax Fees” represent fees billed for tax compliance, tax advice or tax planning that relate directly to the operations and financial reporting of the fund.


“All Other Fees” represent fees billed for services provided to the fund or Fund Service Provider, a significant portion of which are assurance related, that relate directly to the operations and financial reporting of the fund, excluding those services that are reported under Audit Fees, Audit-Related Fees or Tax Fees.  


Assurance services must be performed by an independent public accountant.


* * *


The aggregate non-audit fees billed by Deloitte Entities for services rendered to the Funds, FMR (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any Fund Service Provider for each of the last two fiscal years of the Funds are as follows:


Billed By

October 31, 2018A,B

October 31, 2017B

Deloitte Entities

$770,000

$-


A Amounts may reflect rounding.

B May include amounts billed prior to the Fidelity Series International Index Fund, Fidelity Zero Extended Market Index Fund and Fidelity Zero Large Cap Index Funds’ commencement of operations.


The trust's Audit Committee has considered non-audit services that were not pre-approved that were provided by Deloitte Entities to Fund Service Providers to be compatible with maintaining the independence of Deloitte Entities in its audit of the Funds, taking into account representations from Deloitte Entities, in accordance with Public Company Accounting Oversight Board rules, regarding its independence from the Funds and their related entities and FMR’s review of the appropriateness and permissibility under applicable law of such non-audit services prior to their provision to the Fund Service Providers.


Audit Committee Pre-Approval Policies and Procedures

 

The trust’s Audit Committee must pre-approve all audit and non-audit services provided by a fund’s independent registered public accounting firm relating to the operations or financial reporting of the fund. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.


The Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee’s consideration of non-audit services by the audit firms that audit the Fidelity funds. The policies and procedures require that any non-audit service provided by a fund audit firm to a Fidelity fund and any non-audit service provided by a fund auditor to a Fund Service Provider that relates directly to the operations and financial reporting of a Fidelity fund (“Covered Service”) are subject to approval by the Audit Committee before such service is provided.


All Covered Services must be approved in advance of provision of the service either: (i) by formal resolution of the Audit Committee, or (ii) by oral or written approval of the service by the Chair of the Audit Committee (or if the Chair is unavailable, such other member of the Audit Committee as may be designated by the Chair to act in the Chair’s absence). The approval contemplated by (ii) above is permitted where the Treasurer determines that action on such an engagement is necessary before the next meeting of the Audit Committee.


Non-audit services provided by a fund audit firm to a Fund Service Provider that do not relate directly to the operations and financial reporting of a Fidelity fund are reported to the Audit Committee periodically.


Non-Audit Services Approved Pursuant to Rule 2-01(c)(7)(i)(C) and (ii) of Regulation S-X (“De Minimis Exception”)


There were no non-audit services approved or required to be approved by the Audit Committee pursuant to the De Minimis Exception during the Funds’ last two fiscal years relating to services provided to (i) the Funds or (ii) any Fund Service Provider that relate directly to the operations and financial reporting of the Funds.



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 trust’s Board of Trustees.


Item 11.

Controls and Procedures


(a)(i)  The President and Treasurer and the Chief Financial Officer have concluded that the trust’s 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 trust’s 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 trust’s internal control over financial reporting.


Item 12.

Disclosure of Securities Lending Activities for Closed-End Management

Investment Companies


Not applicable.


Item 13.

Exhibits


(a)

(1)

Code of Ethics pursuant to Item 2 of Form N-CSR is filed and attached hereto as EX-99.CODE ETH.

(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

 

 

Date:

December 26, 2018



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

 

 

Date:

December 26, 2018



By:

/s/John  J. Burke III

 

John J. Burke III

 

Chief Financial Officer

 

 

Date:

December 26, 2018