a
a
Country
Shares
a
Value
a
a
a
a
a
a
Common
Stocks
96.9%
Banks
33.3%
a
AB&T
Financial
Corp.
..................................
United
States
226,100
$
221,555
Bank
of
America
Corp.
.................................
United
States
163,515
6,740,088
Barclays
plc
.........................................
United
Kingdom
5,970,072
11,573,725
b
BAWAG
Group
AG,
144A,
Reg
S
..........................
Austria
60,094
3,032,701
BNP
Paribas
SA
......................................
France
259,382
14,824,308
CaixaBank
SA
........................................
Spain
4,828,471
16,379,831
Citizens
Financial
Group,
Inc.
............................
United
States
351,952
15,953,984
Columbia
Banking
System,
Inc.
...........................
United
States
212,213
6,848,114
First
Horizon
Corp.
....................................
United
States
26,261
616,871
ING
Groep
NV
.......................................
Netherlands
1,280,801
13,374,573
Primis
Financial
Corp.
..................................
United
States
718,833
10,049,285
Synovus
Financial
Corp.
................................
United
States
234,111
11,471,439
UniCredit
SpA
........................................
Italy
891,524
9,618,842
Wells
Fargo
&
Co.
.....................................
United
States
361,870
17,536,220
138,241,536
Capital
Markets
5.5%
BlackRock,
Inc.
.......................................
United
States
2,853
2,180,177
Credit
Suisse
Group
AG,
A
..............................
Switzerland
521,298
4,103,718
c
Deutsche
Bank
AG
....................................
Germany
1,162,459
14,642,219
b
Guotai
Junan
Securities
Co.
Ltd.,
H,
144A,
Reg
S
.............
China
1,396,063
1,873,459
22,799,573
Consumer
Finance
0.9%
Capital
One
Financial
Corp.
.............................
United
States
29,592
3,885,134
Diversified
Financial
Services
6.1%
M&G
plc
............................................
United
Kingdom
3,333,617
9,605,991
Voya
Financial,
Inc.
....................................
United
States
238,075
15,796,277
25,402,268
Equity
Real
Estate
Investment
Trusts
(REITs)
1.5%
Vornado
Realty
Trust
...................................
United
States
137,196
6,217,723
Household
Durables
3.0%
Cairn
Homes
plc
......................................
Ireland
7,837,963
10,729,603
DR
Horton,
Inc.
.......................................
United
States
23,381
1,742,118
12,471,721
Insurance
40.3%
c
Alleghany
Corp.
......................................
United
States
19,580
16,584,260
ASR
Nederland
NV
....................................
Netherlands
307,350
14,350,865
c
Brighthouse
Financial,
Inc.
..............................
United
States
37,191
1,921,287
c
BRP
Group,
Inc.,
A
....................................
United
States
272,511
7,311,470
China
Pacific
Insurance
Group
Co.
Ltd.,
H
...................
China
2,334,045
5,647,259
Conduit
Holdings
Ltd.
..................................
United
States
1,667,976
8,217,388
Direct
Line
Insurance
Group
plc
..........................
United
Kingdom
4,153,959
14,969,402
Everest
Re
Group
Ltd.
.................................
United
States
60,088
18,109,321
Hartford
Financial
Services
Group,
Inc.
(The)
................
United
States
245,601
17,636,608
d
International
General
Insurance
Holdings
Ltd.
................
Jordan
1,326,993
10,244,386
MetLife,
Inc.
.........................................
United
States
250,564
17,609,638
NN
Group
NV
........................................
Netherlands
244,661
12,400,800
c
Ryan
Specialty
Group
Holdings,
Inc.,
A
.....................
United
States
73,514
2,851,608
T&D
Holdings,
Inc.
....................................
Japan
194,245
2,637,781
Willis
Towers
Watson
plc
................................
United
States
71,712
16,939,809
167,431,882