|
AQUARIUS INTERNATIONAL FUND
|
||||||||
|
CONSOLIDATED PORTFOLIO OF INVESTMENTS
|
||||||||
|
NOVEMBER 30, 2021 (UNAUDITED)
|
||||||||
|
NUMBER
|
||||||||
|
OF SHARES
|
VALUE
|
|||||||
|
COMMON STOCKS - 91.0%
|
||||||||
|
Advertising — 0.1%
|
||||||||
|
Dentsu, Inc.
|
1,800
|
$
|
57,005
|
|||||
|
Publicis Groupe SA
|
2,188
|
141,582
|
||||||
|
WPP, PLC
|
3,536
|
49,080
|
||||||
|
247,667
|
||||||||
|
Aerospace/Defense — 0.1%
|
||||||||
|
Airbus Group SE*
|
1,204
|
134,390
|
||||||
|
MTU Aero Engines AG, ADR
|
562
|
52,474
|
||||||
|
Safran SA
|
649
|
72,489
|
||||||
|
Thales SA
|
486
|
39,874
|
||||||
|
299,227
|
||||||||
|
Agriculture — 0.2%
|
||||||||
|
British American Tabacco, PLC, SP ADR
|
5,128
|
172,557
|
||||||
|
Imperial Brands, PLC, SP ADR
|
3,146
|
65,280
|
||||||
|
Japan Tobacco, Inc.
|
4,730
|
94,207
|
||||||
|
Origin Enterprises, PLC
|
115,290
|
454,356
|
||||||
|
Swedish Match*
|
4,980
|
36,333
|
||||||
|
822,733
|
||||||||
|
Airlines — 1.0%
|
||||||||
|
Ryanair Holding, PLC, SP ADR*
|
38,036
|
$
|
3,634,340
|
|||||
|
Apparel — 2.8%
|
||||||||
|
Adidas AG
|
11,185
|
3,234,886
|
||||||
|
Adidas AG, SP ADR
|
1,152
|
166,579
|
||||||
|
Gildan Activewear, Inc.
|
5,757
|
233,504
|
||||||
|
Hermes International
|
80
|
150,128
|
||||||
|
Kering SA
|
139
|
107,042
|
||||||
|
LVMH Moet Hennessy Louis Vuitton SE
|
6,915
|
5,377,044
|
||||||
|
LVMH Moet Hennessy Louis Vuitton SE, ADR
|
2,000
|
313,140
|
||||||
|
NIKE, Inc., Class B
|
2,306
|
390,267
|
||||||
|
Shenzhou International Group Holdings, Ltd.
|
28,275
|
530,944
|
||||||
|
10,503,534
|
||||||||
|
Auto Manufacturers — 1.2%
|
||||||||
|
Bayerische Motoren Werke AG, SP ADR
|
3,309
|
106,351
|
||||||
|
BYD Co., Ltd.
|
21,435
|
843,116
|
||||||
|
Daimler AG
|
3,623
|
339,304
|
||||||
|
Ferrari NV
|
141
|
36,896
|
||||||
|
Ferrari NV, ADR
|
642
|
167,215
|
||||||
|
Geely Automobile Holdings, Ltd.
|
6,982
|
20,621
|
||||||
|
Geely Automobile Holdings, Ltd., ADR
|
883
|
52,618
|
||||||
|
Hyundai Motor Co.
|
353
|
57,992
|
||||||
|
Kia Corp.
|
6,299
|
412,266
|
||||||
|
NIO, Inc., ADR*
|
2,072
|
81,077
|
||||||
|
Nissan Motor Co., Ltd.*
|
10,100
|
49,941
|
||||||
|
Stellantis NV
|
5,160
|
88,357
|
||||||
|
Tata Motors, Ltd., SP ADR*
|
43,271
|
1,321,496
|
||||||
|
Tofas Turk Otomobil Fabrikasi AS
|
43,368
|
272,629
|
||||||
|
Toyota Motor Corp.
|
3,000
|
53,218
|
||||||
|
Toyota Motor Corp., SP ADR
|
1,862
|
331,157
|
||||||
|
Volkswagen AG, ADR
|
5,060
|
140,921
|
||||||
|
Volvo AB, Class B
|
3,636
|
78,282
|
||||||
|
XPeng, Inc., ADR*
|
801
|
44,055
|
||||||
|
4,497,512
|
||||||||
|
Auto Parts & Equipment — 0.1%
|
||||||||
|
Continental AG*
|
442
|
47,274
|
||||||
|
Faurecia SE
|
87
|
3,739
|
||||||
|
Magna International, Inc.
|
3,010
|
226,472
|
||||||
|
Michelin
|
463
|
68,325
|
||||||
|
Vitesco Technologies Group AG*
|
88
|
3,912
|
||||||
|
349,722
|
||||||||
|
Banks — 8.6%
|
||||||||
|
Australia & New Zealand Banking Group, Ltd.
|
5,980
|
113,035
|
||||||
|
Banco Santander SA
|
37,238
|
115,782
|
||||||
|
Bangkok Bank
|
308,300
|
1,030,374
|
||||||
|
Bank Central Asia Tbk PT
|
2,104,850
|
1,069,533
|
||||||
|
Bank Jago Tbk PT*
|
333,593
|
368,143
|
||||||
|
Bank Leumi Le Israel
|
533,716
|
5,135,747
|
||||||
|
Bank Montreal
|
867
|
90,229
|
||||||
|
Bank of Ireland Group, PLC*
|
562,443
|
3,075,126
|
||||||
|
Bank of Nova Scotia, (The)
|
1,749
|
109,190
|
||||||
|
Bank Rakyat Indonesia Persero Tbk PT, ADR*
|
1,382
|
19,541
|
||||||
|
Barclays, PLC
|
126,063
|
307,805
|
||||||
|
Bendigo & Adelaide Bank, Ltd.
|
12,614
|
76,588
|
||||||
|
BNP Paribas SA
|
2,636
|
163,826
|
||||||
|
BOC Hong Kong Holdings, Ltd.
|
28,000
|
84,639
|
||||||
|
CaixaBank SA
|
65,952
|
170,279
|
||||||
|
Canadian Imperial Bank of Commerce
|
573
|
63,872
|
||||||
|
China Merchants Bank Co., Ltd.
|
96,298
|
746,014
|
||||||
|
China Merchants Bank Co., Ltd., ADR
|
554
|
21,548
|
||||||
|
Commerzbank AG*
|
18,102
|
127,139
|
||||||
|
Commonwealth Bank Of Australia
|
4,044
|
266,990
|
||||||
|
Concordia Financial Group, Ltd.
|
11,723
|
42,522
|
||||||
|
Credit Suisse Group AG
|
13,720
|
132,472
|
||||||
|
Dah Sing Financial Holdings, Ltd.
|
222,400
|
660,516
|
||||||
|
DBS Group Holdings, Ltd.
|
92,800
|
2,021,426
|
||||||
|
DBS Group Holdings, Ltd., SP ADR
|
1,611
|
143,315
|
||||||
|
Deutsche Bank AG*
|
8,776
|
105,488
|
||||||
|
DNB Bank ASA
|
12,189
|
266,024
|
||||||
|
FinecoBank Banca Fineco SpA
|
54,134
|
948,098
|
||||||
|
FirstRand, Ltd.
|
13,495
|
47,193
|
||||||
|
Fukuoka Financial Group, Inc.
|
3,000
|
48,439
|
||||||
|
Grupo Aval Acciones y Valores SA, ADR
|
8,589
|
45,865
|
||||||
|
Grupo Financiero Banorte SAB de CV
|
157,685
|
939,381
|
||||||
|
Hang Seng Bank, Ltd.
|
4,400
|
77,807
|
||||||
|
HDFC Bank, Ltd.
|
120,850
|
2,394,139
|
||||||
|
HDFC Bank, Ltd., ADR
|
15,262
|
999,203
|
||||||
|
HSBC Holdings, PLC, SP ADR
|
9,910
|
274,309
|
||||||
|
ICICI Bank, Ltd., SP ADR
|
102,926
|
1,900,014
|
||||||
|
ING Groep NV
|
7,103
|
98,117
|
||||||
|
Macquarie Group, Ltd.
|
749
|
104,308
|
||||||
|
Mediobanca Banca di Credito Finanziario SpA
|
3,974
|
43,959
|
||||||
|
Mitsubishi UFJ Financial Group Inc., SP ADR
|
53,334
|
281,603
|
||||||
|
National Australia Bank, Ltd.
|
7,689
|
148,575
|
||||||
|
National Australia Bank, Ltd., SP ADR
|
11,208
|
109,166
|
||||||
|
Nedbank Group, Ltd., SP ADR
|
2,666
|
27,713
|
||||||
|
Nordea Bank Abp
|
11,504
|
136,242
|
||||||
|
Nordea Bank Abp
|
93
|
1,103
|
||||||
|
OTP Bank, PLC*
|
6,352
|
350,734
|
||||||
|
Oversea-Chinese Bank Corp., Ltd.
|
9,000
|
72,128
|
||||||
|
Qatar National Bank QPSC
|
60,537
|
322,387
|
||||||
|
Royal Bank Canada
|
3,116
|
308,577
|
||||||
|
Sberbank of Russia PJSC, ADR
|
44,990
|
758,152
|
||||||
|
Sberbank Russia, SP ADR
|
55,852
|
944,457
|
||||||
|
Shinhan Financial Group Co., Ltd., SP ADR
|
9,162
|
266,981
|
||||||
|
Siam Commercial Bank PCL, (The)
|
86,300
|
311,552
|
||||||
|
Societe Generale SA
|
2,392
|
74,432
|
||||||
|
Standard Bank Group, Ltd.
|
9,099
|
73,908
|
||||||
|
Sumitomo Mitsui Financial Group Inc., SP ADR
|
56,610
|
366,267
|
||||||
|
Svenska Handelsbanken AB, Class A
|
190,980
|
2,020,562
|
||||||
|
TCS Group Holding Plc
|
8,722
|
831,871
|
||||||
|
Toronto-Dominion Bank, (The)
|
3,414
|
246,013
|
||||||
|
UBS Group AG
|
13,717
|
237,187
|
||||||
|
United Overseas Bank, Ltd.
|
6,000
|
112,297
|
||||||
|
Woori Financial Group, Inc., SP ADR
|
4,696
|
150,178
|
||||||
|
32,600,080
|
||||||||
|
Beverages — 3.1%
|
||||||||
|
Anheuser-Busch InBev SA NV, SP ADR
|
2,087
|
116,288
|
||||||
|
Asahi Group Holdings Ltd.
|
1,700
|
62,697
|
||||||
|
Carlsberg A/S - Class B
|
499
|
77,494
|
||||||
|
China Resources Beer Holdings Co., Ltd.
|
10,000
|
82,027
|
||||||
|
Coca-Cola European Partners, PLC
|
476
|
23,500
|
||||||
|
Diageo, PLC
|
112,637
|
5,684,576
|
||||||
|
Diageo, PLC, SP ADR
|
2,046
|
415,686
|
||||||
|
Endeavour Group Ltd/Australia
|
2,137
|
10,380
|
||||||
|
Fomento Economico Mexicano SAB de CV, SP ADR
|
461
|
32,611
|
||||||
|
Heineken NV
|
4,751
|
472,880
|
||||||
|
Pernod Ricard SA
|
300
|
68,837
|
||||||
|
Thai Beverage, PLC
|
7,196,900
|
3,519,516
|
||||||
|
Wuliangye Yibin Co., Ltd., Class A
|
32,398
|
1,109,383
|
||||||
|
11,675,875
|
||||||||
|
Biotechnology — 0.4%
|
||||||||
|
BeiGene Ltd., ADR*
|
1,330
|
462,215
|
||||||
|
CSL Ltd., SP ADR
|
1,030
|
112,702
|
||||||
|
CSL, Ltd.
|
628
|
136,551
|
||||||
|
Genmab A/S*
|
1,553
|
601,853
|
||||||
|
Genmab A/S, SP ADR*
|
2,330
|
89,752
|
||||||
|
1,403,073
|
||||||||
|
Building Materials — 1.8%
|
||||||||
|
Cemex SAB de CV, SP ADR*
|
5,460
|
33,579
|
||||||
|
CRH, PLC
|
73,355
|
3,566,113
|
||||||
|
CRH, PLC, SP ADR
|
3,605
|
175,491
|
||||||
|
Daikin Industries, Ltd.
|
249
|
50,702
|
||||||
|
Daikin Industries, Ltd., SP ADR
|
1,490
|
30,500
|
||||||
|
Geberit AG
|
90
|
68,716
|
||||||
|
James Hardie Industries PLC
|
2,896
|
113,507
|
||||||
|
LafargeHolcim, Ltd.*
|
2,013
|
96,974
|
||||||
|
Semen Indonesia Persero Tbk PT, ADR
|
2,421
|
27,152
|
||||||
|
Sika AG
|
6,634
|
2,590,584
|
||||||
|
TOTO, Ltd.
|
365
|
16,147
|
||||||
|
6,769,465
|
||||||||
|
Chemicals — 2.3%
|
||||||||
|
Air Liquide SA
|
14,762
|
2,437,825
|
||||||
|
Air Liquide SA, ADR
|
1,771
|
58,567
|
||||||
|
Akzo Nobel NV, ADR
|
2,496
|
87,635
|
||||||
|
Asahi Kasei Corp.
|
6,000
|
56,100
|
||||||
|
Asian Paints Ltd.
|
5,954
|
249,153
|
||||||
|
BASF SE, SP ADR
|
9,844
|
161,638
|
||||||
|
Clean Science & Technology Ltd.*
|
6,791
|
193,915
|
||||||
|
Covestro AG(a)
|
1,716
|
96,783
|
||||||
|
Croda International, PLC
|
584
|
78,319
|
||||||
|
Daqo New Energy Corp., ADR*
|
3,921
|
224,830
|
||||||
|
FUCHS PETROLUB SE
|
29,650
|
1,032,989
|
||||||
|
Givaudan SA
|
27
|
131,996
|
||||||
|
Givaudan SA, ADR
|
600
|
58,810
|
||||||
|
ICL Group, Ltd.
|
12,592
|
109,424
|
||||||
|
IMCD NV
|
6,283
|
1,395,576
|
||||||
|
Israel Chemicals, Ltd.
|
24,673
|
214,405
|
||||||
|
Johnson Matthey, PLC
|
1,377
|
38,256
|
||||||
|
Kansai Paint Co., Ltd.
|
1,360
|
30,531
|
||||||
|
Koninklijke DSM NV
|
561
|
120,747
|
||||||
|
LANXESS AG
|
1,023
|
59,244
|
||||||
|
LG Chem, Ltd.
|
385
|
225,530
|
||||||
|
Mitsui Chemicals, Inc.
|
22
|
586
|
||||||
|
Nippon Paint Holdings Co., Ltd.
|
3,610
|
37,880
|
||||||
|
Novozymes A/S, ADR
|
920
|
69,662
|
||||||
|
Nutrien, Ltd.*
|
7,307
|
483,139
|
||||||
|
Shanghai Putailai New Energy Technology Co Ltd., Class A
|
9,700
|
278,823
|
||||||
|
Shin Etsu Chemical Co., Ltd., ADR
|
2,744
|
114,548
|
||||||
|
Shin-Etsu Chemical Co., Ltd.
|
654
|
108,935
|
||||||
|
Sociedad Quimica y Minera de Chile SA SP ADR
|
4,920
|
306,319
|
||||||
|
Solvay SA
|
373
|
41,734
|
||||||
|
Sumitomo Chemical Co., Ltd.
|
13,000
|
59,632
|
||||||
|
Symrise AG
|
500
|
70,336
|
||||||
|
Umicore SA, ADR
|
3,052
|
37,021
|
||||||
|
8,670,888
|
||||||||
|
Coal — 0.0%
|
||||||||
|
China Shenhua Energy Co., Ltd.
|
30,000
|
62,155
|
||||||
|
Commercial Services — 3.4%
|
||||||||
|
Adecco Group AG
|
374
|
17,332
|
||||||
|
Adyen NV*(a)
|
974
|
2,697,809
|
||||||
|
ALD SA(a)
|
18,472
|
259,587
|
||||||
|
Allfunds Group, PLC*
|
99,219
|
1,637,672
|
||||||
|
Amadeus IT Group SA, ADR*
|
1,437
|
92,126
|
||||||
|
Ashtead Group, PLC
|
33,370
|
2,684,548
|
||||||
|
Bidvest Group, Ltd., (The)
|
3,146
|
35,762
|
||||||
|
Bureau Veritas SA
|
1,739
|
55,074
|
||||||
|
China Merchants Port Holdings Co., Ltd.
|
60,000
|
92,328
|
||||||
|
Edenred
|
1,223
|
54,709
|
||||||
|
Experian, PLC
|
2,543
|
114,170
|
||||||
|
International Container Terminal Services, Inc.
|
30,237
|
118,764
|
||||||
|
Intertek Group, PLC
|
12,173
|
862,025
|
||||||
|
Localiza Rent a Car SA, SP ADR*
|
4,006
|
36,294
|
||||||
|
Recruit Holdings Co., Ltd.
|
3,292
|
199,889
|
||||||
|
RELX, PLC
|
122,198
|
3,790,650
|
||||||
|
Rentokil Initial, PLC
|
7,414
|
60,377
|
||||||
|
Transurban Group
|
6,366
|
61,451
|
||||||
|
12,870,567
|
||||||||
|
Computers — 2.4%
|
||||||||
|
AutoStore Holdings Ltd.*
|
610,704
|
3,051,984
|
||||||
|
CGI, Inc.*
|
279
|
23,291
|
||||||
|
CyberArk Software, Ltd.*
|
576
|
99,562
|
||||||
|
EPAM Systems, Inc.*
|
997
|
606,724
|
||||||
|
Fujitsu, Ltd.
|
422
|
69,750
|
||||||
|
Globant S.A.*
|
1,918
|
508,289
|
||||||
|
Infosys Ltd., SP ADR
|
33,841
|
764,130
|
||||||
|
Itochu Techno-Solutions Corp.
|
2,129
|
69,260
|
||||||
|
Logitech International SA
|
536
|
42,719
|
||||||
|
Nomura Research Institute, Ltd.
|
60,700
|
2,595,060
|
||||||
|
Obic Co., Ltd.
|
400
|
73,565
|
||||||
|
Tata Consultancy Services, Ltd.
|
16,548
|
777,711
|
||||||
|
Teleperformance
|
266
|
109,414
|
||||||
|
Wipro, Ltd., ADR
|
38,844
|
331,728
|
||||||
|
9,123,187
|
||||||||
|
Cosmetics/Personal Care — 1.7%
|
||||||||
|
Beiersdorf AG
|
880
|
87,526
|
||||||
|
Essity AB, Class B
|
3,135
|
100,107
|
||||||
|
Kose Corp.
|
300
|
36,101
|
||||||
|
L'Oreal SA
|
1,301
|
587,448
|
||||||
|
L'Oreal SA, ADR
|
3,400
|
306,918
|
||||||
|
Natura & Co. Holding SA, ADR*
|
5,256
|
49,827
|
||||||
|
Proya Cosmetics Co., Ltd., Class A
|
18,016
|
560,283
|
||||||
|
Unicharm Corp.
|
2,487
|
107,727
|
||||||
|
Unilever PLC-CVA
|
79,854
|
4,112,876
|
||||||
|
Unilever, PLC, SP ADR
|
8,797
|
447,328
|
||||||
|
6,396,141
|
||||||||
|
Distribution/Wholesale — 1.8%
|
||||||||
|
Azelis Group NV*
|
63,299
|
1,804,369
|
||||||
|
Bunzl, PLC
|
126,233
|
4,803,018
|
||||||
|
ITOCHU Corp.
|
3,700
|
105,813
|
||||||
|
ITOCHU Corp., ADR
|
426
|
24,291
|
||||||
|
Jardine Cycle & Carriage, Ltd.
|
4,000
|
61,918
|
||||||
|
Mitsui & Co., Ltd.
|
3,159
|
71,025
|
||||||
|
Sendas Distribuidora SA, ADR*
|
2,775
|
32,939
|
||||||
|
6,903,373
|
||||||||
|
Diversified Financial Services — 1.9%
|
||||||||
|
Banco BTG Pactual SA*
|
140,589
|
522,409
|
||||||
|
Capitec Bank Holdings, Ltd.
|
3,704
|
424,545
|
||||||
|
Chailease Holding Co., Ltd.
|
78,355
|
693,206
|
||||||
|
China International Capital Corp., Ltd.(a)
|
19,000
|
45,964
|
||||||
|
Deutsche Boerse AG
|
8,586
|
1,348,194
|
||||||
|
Deutsche Boerse AG, ADR
|
2,810
|
44,145
|
||||||
|
Guotai Junan Securities Co., Ltd.(a)
|
33,000
|
43,994
|
||||||
|
Hargreaves Lansdown, PLC
|
1,539
|
27,316
|
||||||
|
Hong Kong Exchange & Clearing, Ltd.
|
3,780
|
207,868
|
||||||
|
Housing Development Finance Corp., Ltd.
|
24,572
|
874,589
|
||||||
|
Japan Exchange Group, Inc., ADR
|
64,100
|
1,387,836
|
||||||
|
KB Financial Group, Inc.
|
10,208
|
453,673
|
||||||
|
KB Financial Group, Inc., ADR
|
6,431
|
285,408
|
||||||
|
London Stock Exchange Group, PLC
|
791
|
68,525
|
||||||
|
London Stock Exchange Group, PLC, ADR
|
2,464
|
53,839
|
||||||
|
Noah Holdings, Ltd., ADR*
|
842
|
30,674
|
||||||
|
Nomura Holdings, Inc.
|
14,100
|
59,081
|
||||||
|
Sanlam Ltd., SP ADR
|
5,156
|
35,576
|
||||||
|
SBI Cards & Payment*
|
27,995
|
353,123
|
||||||
|
SBI Holdings, Inc. (Japan)
|
2,600
|
66,706
|
||||||
|
Singapore Exchange, Ltd.
|
6,000
|
39,173
|
||||||
|
St James's Place, PLC
|
5,807
|
119,569
|
||||||
|
Standard Life Aberdeen, PLC
|
15,283
|
47,255
|
||||||
|
7,232,668
|
||||||||
|
Electric — 0.5%
|
||||||||
|
E.ON SE
|
4,210
|
51,936
|
||||||
|
Elia Group SA/NV
|
542
|
67,523
|
||||||
|
Endesa SA
|
2,898
|
65,190
|
||||||
|
Enel SpA
|
12,990
|
98,430
|
||||||
|
Engie SA, SP ADR
|
8,968
|
130,215
|
||||||
|
Fortis, Inc.
|
2,870
|
124,300
|
||||||
|
Iberdrola SA
|
8,686
|
97,562
|
||||||
|
Iberdrola SA, SP ADR
|
1,618
|
72,349
|
||||||
|
National Grid, PLC
|
2,867
|
38,042
|
||||||
|
National Grid, PLC, SP ADR
|
2,605
|
172,112
|
||||||
|
Orsted A/S(a)
|
616
|
79,204
|
||||||
|
Power Assets Holdings, Ltd.
|
9,500
|
57,234
|
||||||
|
Power Grid Corp. of India Ltd.
|
194,487
|
534,681
|
||||||
|
RWE AG
|
1,891
|
72,822
|
||||||
|
SSE, PLC, ADR
|
5,415
|
112,713
|
||||||
|
Terna Rete Elettrica Nazionale SpA
|
6,010
|
44,692
|
||||||
|
1,819,005
|
||||||||
|
Electrical Components & Equipment — 1.1%
|
||||||||
|
ABB, Ltd.
|
4,533
|
156,764
|
||||||
|
Contemporary Amperex Technology Co., Ltd., Class A
|
11,722
|
1,250,351
|
||||||
|
Delta Electronics, Inc.
|
29,510
|
271,283
|
||||||
|
Ecopro BM Co Ltd.
|
378
|
172,807
|
||||||
|
Legrand SA
|
17,038
|
1,871,700
|
||||||
|
Schneider Electric SE
|
698
|
123,876
|
||||||
|
Schneider Electric SE, ADR
|
4,025
|
143,048
|
||||||
|
3,989,829
|
||||||||
|
Electronics — 1.6%
|
||||||||
|
Assa Abloy AB, Class B
|
81,995
|
2,297,470
|
||||||
|
Halma, PLC
|
29,980
|
1,195,020
|
||||||
|
Havells India Ltd.
|
22,363
|
403,703
|
||||||
|
Hirose Electric Co., Ltd.
|
427
|
71,611
|
||||||
|
Hon Hai Precision
|
56,353
|
208,811
|
||||||
|
Hoya Corp.
|
670
|
106,052
|
||||||
|
Hoya Corp., SP ADR
|
487
|
77,360
|
||||||
|
Kyocera Corp.
|
900
|
53,343
|
||||||
|
Murata Manufacturing Co., Ltd.
|
1,119
|
82,094
|
||||||
|
Murata Manufacturing Co., Ltd., ADR
|
5,048
|
92,580
|
||||||
|
Nidec Corp.
|
78
|
8,932
|
||||||
|
Nidec Corp., SP ADR
|
4,640
|
133,168
|
||||||
|
Silergy Corp.
|
4,625
|
781,712
|
||||||
|
Unimicron Technology Corp.
|
51,414
|
419,847
|
||||||
|
5,931,703
|
||||||||
|
Energy-Alternate Sources — 0.2%
|
||||||||
|
Sungrow Power Supply Co Ltd., Class A
|
19,916
|
504,630
|
||||||
|
Vestas Wind System
|
2,480
|
83,271
|
||||||
|
587,901
|
||||||||
|
Engineering & Construction — 0.2%
|
||||||||
|
Airports of Thailand PCL
|
235,100
|
416,376
|
||||||
|
Cellnex Telecom SA*(a)
|
719
|
42,403
|
||||||
|
Ferrovial SA
|
3,085
|
85,900
|
||||||
|
Grupo Aeroportuario del Pacifico SAB de CV, SP ADR*
|
392
|
45,276
|
||||||
|
Grupo Aeroportuario del Sureste SAB de CV, SP ADR
|
471
|
86,075
|
||||||
|
HOCHTIEF AG
|
774
|
58,109
|
||||||
|
Vinci SA, ADR
|
3,476
|
82,520
|
||||||
|
816,659
|
||||||||
|
Entertainment — 0.1%
|
||||||||
|
Evolution AB, ADR
|
197
|
20,651
|
||||||
|
MultiChoice Group
|
5,548
|
42,908
|
||||||
|
MultiChoice Group, Ltd., ADR
|
93
|
713
|
||||||
|
OPAP SA
|
14,085
|
195,413
|
||||||
|
Oriental Land Co., Ltd.
|
813
|
127,751
|
||||||
|
Paddy Power Betfair, PLC*
|
321
|
43,961
|
||||||
|
431,397
|
||||||||
|
Environmental Control — 0.2%
|
||||||||
|
China Conch Venture Holdings, Ltd.
|
159,500
|
779,624
|
||||||
|
Food — 1.0%
|
||||||||
|
a2 Milk Co., Ltd.*
|
10,970
|
45,734
|
||||||
|
Aeon Co., Ltd.
|
676
|
15,767
|
||||||
|
BRF SA, ADR*
|
3,487
|
12,239
|
||||||
|
China Mengniu Dairy Co., Ltd.*
|
78,222
|
438,403
|
||||||
|
Chocoladefabriken Lindt & Spruengli AG
|
6
|
73,918
|
||||||
|
Cia Brasileira de Distribuicao, SP ADR*
|
2,775
|
11,239
|
||||||
|
Coles Group, Ltd.
|
4,109
|
52,471
|
||||||
|
Colruyt SA
|
1,916
|
89,947
|
||||||
|
Dino Polska SA*(a)
|
7,000
|
579,811
|
||||||
|
ICA Gruppen AB
|
2,220
|
131,494
|
||||||
|
JBS SA, ADR
|
690
|
8,639
|
||||||
|
Koninklijke Ahold Delhaize NV
|
696
|
23,420
|
||||||
|
Koninklijke Ahold Delhaize NV, SP ADR
|
4,031
|
135,925
|
||||||
|
Magnit PJSC
|
16,151
|
248,990
|
||||||
|
Marine Harvest
|
1,851
|
42,086
|
||||||
|
MASAN GROUP Corp.
|
42,300
|
278,104
|
||||||
|
Meiji Holdings Co., Ltd.
|
1,500
|
88,283
|
||||||
|
Nestle SA
|
1,342
|
172,006
|
||||||
|
Nestle SA, SP ADR
|
6,845
|
879,582
|
||||||
|
Nissin Foods Holdings Co, Ltd.
|
800
|
58,803
|
||||||
|
Ocado Group, PLC*
|
2,138
|
51,039
|
||||||
|
Seven & i Holdings Co., Ltd., ADR
|
3,000
|
60,210
|
||||||
|
Tesco, PLC
|
1
|
5
|
||||||
|
Wilmar International, Ltd.
|
29,000
|
86,976
|
||||||
|
Woolworths Group, Ltd.
|
2,137
|
61,871
|
||||||
|
3,646,962
|
||||||||
|
Food Service — 0.3%
|
||||||||
|
Compass Group, PLC*
|
48,865
|
953,249
|
||||||
|
Compass Group, PLC, SP ADR*
|
7,353
|
146,398
|
||||||
|
1,099,647
|
||||||||
|
Forest Products & Paper — 0.0%
|
||||||||
|
Smurfit Kappa Group PLC, ADR
|
736
|
38,069
|
||||||
|
UPM-Kymmene Corp.
|
1,590
|
57,655
|
||||||
|
95,724
|
||||||||
|
Gas — 0.1%
|
||||||||
|
Beijing Enterprises Holdings, Ltd.
|
23,500
|
79,288
|
||||||
|
China Resources Gas Group, Ltd.
|
6,000
|
31,047
|
||||||
|
ENN Energy Holdings, Ltd.
|
6,000
|
112,339
|
||||||
|
Hong Kong & China Gas Co., Ltd.
|
84,000
|
125,209
|
||||||
|
Snam SpA
|
9,397
|
52,955
|
||||||
|
400,838
|
||||||||
|
Hand/Machine Tools — 0.6%
|
||||||||
|
Amada Co., Ltd.
|
158,200
|
1,474,777
|
||||||
|
Sandvik AB
|
3,286
|
81,129
|
||||||
|
Schindler Holding AG
|
216
|
53,609
|
||||||
|
Techtronic Industrials Co., Ltd.
|
41,875
|
861,232
|
||||||
|
2,470,747
|
||||||||
|
Healthcare-Products — 2.8%
|
||||||||
|
Alcon, Inc.
|
70,851
|
5,596,430
|
||||||
|
Alcon, Inc., ADR
|
1,128
|
88,435
|
||||||
|
Asahi Intecc Co., Ltd.
|
2,115
|
46,359
|
||||||
|
Cochlear, Ltd.
|
376
|
57,817
|
||||||
|
Coloplast A/S, ADR
|
1,070
|
17,521
|
||||||
|
Coloplast A/S, Class B
|
327
|
53,414
|
||||||
|
Essilor International Cie Generale d'Opitque SA
|
15,998
|
3,206,114
|
||||||
|
EssilorLuxottica SA, ADR
|
144
|
14,468
|
||||||
|
Fisher & Paykel Healthcare Corp, Ltd.
|
1,512
|
34,210
|
||||||
|
Koninklijke Philips
|
29,017
|
1,022,565
|
||||||
|
Koninklijke Philips NV, ADR
|
1,898
|
66,772
|
||||||
|
Olympus Corp.
|
2,000
|
44,687
|
||||||
|
QIAGEN NV*
|
2,099
|
115,718
|
||||||
|
Shandong Weigao Group Medical Polymer Co, Ltd.
|
16,000
|
22,513
|
||||||
|
Shanghai MicroPort MedBot Group Co Ltd.*
|
7,000
|
53,860
|
||||||
|
Siemens Healthineers AG(a)
|
1,037
|
75,320
|
||||||
|
Smith & Nephew, PLC
|
2,242
|
36,032
|
||||||
|
Sonova Holding AG
|
80
|
30,065
|
||||||
|
Sysmex Corp.
|
300
|
37,315
|
||||||
|
Sysmex Corp., ADR
|
450
|
28,067
|
||||||
|
Terumo Corp.
|
1,362
|
55,466
|
||||||
|
10,703,148
|
||||||||
|
Healthcare-Services — 0.5%
|
||||||||
|
Apollo Hospitals Enterprise, Ltd.
|
13,112
|
991,235
|
||||||
|
BioMerieux
|
482
|
68,204
|
||||||
|
Fresenius Medical Care AG & Co., KGaA, ADR
|
1,104
|
32,921
|
||||||
|
Lonza Group AG
|
182
|
146,755
|
||||||
|
Lonza Group AG, ADR*
|
370
|
29,844
|
||||||
|
Sonic Healthcare Ltd., SP ADR
|
3,345
|
101,354
|
||||||
|
Wuxi Biologics Cayman, Inc.*(a)
|
26,721
|
360,461
|
||||||
|
1,730,774
|
||||||||
|
Holding Companies-Diversification — 0.1%
|
||||||||
|
CK Hutchison Holdings, Ltd.
|
10,000
|
62,602
|
||||||
|
Jardine Matheson Holdings, Ltd.
|
1,000
|
56,561
|
||||||
|
MELI Kaszek Pioneer Corp., Class A*
|
20,089
|
261,960
|
||||||
|
381,123
|
||||||||
|
Home Builders — 0.3%
|
||||||||
|
Persimmon, PLC
|
1,243
|
45,172
|
||||||
|
Sekisui Chemical Co., Ltd.
|
52,607
|
854,574
|
||||||
|
Sekisui House, Ltd.
|
4,000
|
77,739
|
||||||
|
977,485
|
||||||||
|
Home Furnishings — 0.2%
|
||||||||
|
Electrolux AB, Class B*
|
972
|
21,824
|
||||||
|
Panasonic Corp.
|
4,000
|
43,610
|
||||||
|
Sharp Corp. (Japan)
|
3,000
|
33,467
|
||||||
|
Sony Corp., SP ADR
|
4,806
|
585,611
|
||||||
|
684,512
|
||||||||
|
Household Products/Wares — 0.0%
|
||||||||
|
Hindustan Unilever Ltd.
|
5,666
|
174,832
|
||||||
|
Insurance — 4.4%
|
||||||||
|
Admiral Group, PLC
|
50,368
|
1,980,171
|
||||||
|
Aegon NV
|
14,288
|
63,065
|
||||||
|
Ageas SA NV
|
2,481
|
128,304
|
||||||
|
AIA Group, Ltd., SP ADR
|
9,630
|
405,664
|
||||||
|
Allianz SE, SP ADR
|
6,060
|
131,623
|
||||||
|
Aon, PLC, Class A
|
21,059
|
6,228,620
|
||||||
|
Baloise Holding AG
|
522
|
77,872
|
||||||
|
CNP Assurances
|
12,462
|
303,811
|
||||||
|
Dai-ichi Life Holdings, Inc.
|
6,692
|
134,071
|
||||||
|
Hannover Rueck SE
|
286
|
49,987
|
||||||
|
Insurance Australia Group, Ltd.
|
12,776
|
40,131
|
||||||
|
Lancashire Holdings, Ltd.
|
348,744
|
2,353,840
|
||||||
|
Legal & General Group, PLC
|
36,815
|
137,537
|
||||||
|
Manulife Finanical Corp.
|
6,860
|
123,137
|
||||||
|
New China Life Insurance Co., Ltd.
|
16,800
|
44,878
|
||||||
|
NN Group NV
|
3,039
|
151,006
|
||||||
|
Prudential PLC, SP ADR
|
2,925
|
49,407
|
||||||
|
Sampo, Class A, PLC
|
47,513
|
2,331,327
|
||||||
|
Sun Life Financial, Inc.
|
2,753
|
146,129
|
||||||
|
Suncorp Group, Ltd.
|
18,597
|
142,492
|
||||||
|
T&D Holdings, Inc.
|
5,200
|
61,116
|
||||||
|
Topdanmark AS
|
23,835
|
1,287,153
|
||||||
|
Zurich Insurance Group AG
|
202
|
83,044
|
||||||
|
16,454,385
|
||||||||
|
Internet — 4.4%
|
||||||||
|
21Vianet Group, Inc., ADR*
|
1,802
|
17,516
|
||||||
|
51job, Inc., ADR*
|
1,093
|
63,066
|
||||||
|
Alibaba Group Holding, Ltd.*
|
28,374
|
453,068
|
||||||
|
Alibaba Group Holdings, Ltd., SP ADR*
|
14,797
|
1,887,061
|
||||||
|
Autohome, Inc., ADR
|
1,165
|
39,808
|
||||||
|
Baidu, Inc., SP ADR*
|
1,335
|
200,036
|
||||||
|
Delivery Hero SE*(a)
|
387
|
51,359
|
||||||
|
East Money Information Co., Ltd., Class A
|
125,817
|
683,314
|
||||||
|
Hello Group, Inc., ADR
|
2,462
|
28,485
|
||||||
|
JD.com, Inc., ADR*
|
20,954
|
1,762,441
|
||||||
|
JOYY, Inc., ADR
|
721
|
36,915
|
||||||
|
Kakao Corp.
|
3,714
|
379,979
|
||||||
|
M3, Inc.
|
1,300
|
69,886
|
||||||
|
Meituan, ADR*
|
5,139
|
312,194
|
||||||
|
Meituan Dianping, Class B*(a)
|
13,200
|
401,205
|
||||||
|
Mercadolibre, Inc.*
|
382
|
453,973
|
||||||
|
momo.com, Inc.
|
11,000
|
702,677
|
||||||
|
MonotaRO Co., Ltd.
|
1,200
|
23,624
|
||||||
|
Naspers, Ltd.
|
9,320
|
1,440,478
|
||||||
|
Naver Corp.
|
1,033
|
329,787
|
||||||
|
Pinduoduo, Inc., ADR*
|
328
|
21,812
|
||||||
|
Prosus NV*
|
1,947
|
156,466
|
||||||
|
Sea, Ltd., ADR*
|
876
|
252,349
|
||||||
|
Seek, Ltd.
|
4,272
|
104,825
|
||||||
|
Shopify, Inc., Class A*
|
72
|
109,569
|
||||||
|
Tencent Holdings, Ltd.
|
77,830
|
4,538,974
|
||||||
|
Tencent Holdings, Ltd., ADR
|
17,513
|
1,023,635
|
||||||
|
Vipshop Holdings, Ltd., ADR*
|
4,069
|
39,754
|
||||||
|
Weibo Corp., SP ADR*
|
653
|
25,996
|
||||||
|
Yandex NV, Class A*
|
13,206
|
950,040
|
||||||
|
Z Holdings Corp.
|
6,577
|
43,529
|
||||||
|
16,603,821
|
||||||||
|
Investment Companies — 2.7%
|
||||||||
|
Groupe Bruxelles Lambert SA
|
70,721
|
7,680,232
|
||||||
|
Kinnevik AB, Class B*
|
849
|
30,270
|
||||||
|
Melrose Indust, PLC
|
1,204,852
|
2,314,774
|
||||||
|
Wendel SA
|
888
|
101,535
|
||||||
|
10,126,811
|
||||||||
|
Iron/Steel — 0.3%
|
||||||||
|
BlueScope Steel, Ltd.
|
6,357
|
88,358
|
||||||
|
Cia Siderurgica Nacional SA, SP ADR
|
41,580
|
159,667
|
||||||
|
Fortescue Metals Group, Ltd.
|
5,658
|
67,945
|
||||||
|
Nippon Steel & Sumitomo Metal Corp.
|
8,000
|
117,949
|
||||||
|
Posco, SP ADR
|
3,580
|
197,509
|
||||||
|
Vale SA, SP ADR
|
49,697
|
614,752
|
||||||
|
Voestalpine AG
|
1,763
|
59,497
|
||||||
|
1,305,677
|
||||||||
|
Leisure Time — 0.1%
|
||||||||
|
Merida Industry Co., Ltd.
|
26,351
|
282,988
|
||||||
|
Shimano, Inc.
|
236
|
65,275
|
||||||
|
348,263
|
||||||||
|
Life Sciences Tools & Services — 0.6%
|
||||||||
|
Eurofins Scientific SE*
|
18,541
|
2,371,935
|
||||||
|
Lodging — 0.0%
|
||||||||
|
Huazhu Group, Ltd., ADR
|
1,213
|
47,938
|
||||||
|
InterContinental Hotels Group, PLC*
|
1,515
|
90,018
|
||||||
|
137,956
|
||||||||
|
Machinery-Construction & Mining — 0.4%
|
||||||||
|
Epiroc AB, Class A*
|
52,724
|
1,276,433
|
||||||
|
Hitachi Ltd., ADR
|
1,830
|
216,397
|
||||||
|
Hitachi, Ltd.
|
901
|
52,779
|
||||||
|
Komatsu, Ltd.
|
4,400
|
99,542
|
||||||
|
Mitsubishi Electical Corp.
|
3,000
|
37,484
|
||||||
|
Siemens Energy AG*
|
960
|
25,573
|
||||||
|
1,708,208
|
||||||||
|
Machinery-Diversified — 1.9%
|
||||||||
|
Atlas Copco AB, Class A
|
1,701
|
104,065
|
||||||
|
Atlas Copco AB, Class A, SP ADR
|
1,656
|
102,001
|
||||||
|
CNH Industrial NV
|
6,623
|
108,710
|
||||||
|
FANUC Corp.
|
300
|
58,813
|
||||||
|
GEA Group AG
|
88,704
|
4,489,080
|
||||||
|
Keyence Corp.
|
400
|
247,033
|
||||||
|
Kone Corp., Class B
|
748
|
49,139
|
||||||
|
Kubota Corp., SP ADR
|
883
|
91,806
|
||||||
|
NARI Technology Co Ltd., Class A
|
94,650
|
614,536
|
||||||
|
SMC Corp.
|
110
|
70,229
|
||||||
|
SMC Corp., ADR
|
2,280
|
73,188
|
||||||
|
Spirax-Sarco Engineering, PLC
|
6,130
|
1,271,903
|
||||||
|
Sumitomo Heavy Industries, Ltd.
|
2,000
|
44,138
|
||||||
|
7,324,641
|
||||||||
|
Media — 2.0%
|
||||||||
|
Informa, PLC*
|
4,850
|
30,034
|
||||||
|
Liberty Media Corp-Liberty Formula One, Class C*
|
11,818
|
719,953
|
||||||
|
Pearson, PLC, SP ADR
|
15,198
|
122,344
|
||||||
|
Shaw Communications, Inc., Class B
|
9,386
|
271,912
|
||||||
|
Thomson Reuters Corp.
|
1,419
|
169,656
|
||||||
|
Vivendi SA, ADR*
|
5,370
|
68,092
|
||||||
|
Wolters Kluwer
|
54,783
|
6,160,916
|
||||||
|
Wolters Kluwer NV, SP ADR
|
667
|
75,017
|
||||||
|
7,617,924
|
||||||||
|
Metal Fabricate/Hardware — 0.0%
|
||||||||
|
Bharat Forge Ltd.
|
20,694
|
191,056
|
||||||
|
Mining — 1.3%
|
||||||||
|
Alrosa PJSC
|
167,134
|
290,547
|
||||||
|
Aluminum Corp. of China, Ltd.*
|
383,363
|
187,155
|
||||||
|
Antofagasta, PLC
|
8,790
|
160,705
|
||||||
|
Barrick Gold Corp.
|
6,196
|
117,662
|
||||||
|
Boliden AB*
|
2,900
|
99,972
|
||||||
|
Cameco Corp.
|
3,460
|
80,203
|
||||||
|
Franco-Nevada Corp.
|
1,038
|
142,715
|
||||||
|
Freeport-McMoRan, Inc.
|
13,173
|
488,455
|
||||||
|
Groupo Mexico SAB de CV SA
|
214,871
|
894,958
|
||||||
|
Hindalco Industries Ltd.
|
52,889
|
290,198
|
||||||
|
Kirkland Lake Gold, Ltd.
|
1,043
|
41,251
|
||||||
|
Lynas Rare Earths, Ltd.*
|
71,112
|
445,474
|
||||||
|
MMC Norilsk Nickel PJSC, ADR
|
2,034
|
58,762
|
||||||
|
Norsk Hydro ASA
|
15,202
|
98,450
|
||||||
|
Polyus PJSC
|
2,224
|
433,514
|
||||||
|
Rio Tinto, PLC, SP ADR
|
1,211
|
75,918
|
||||||
|
South32 Ltd.
|
44,192
|
110,430
|
||||||
|
Southern Copper Corp.
|
3,807
|
222,709
|
||||||
|
Sumitomo Metal Mining Co., Ltd.
|
2,000
|
73,923
|
||||||
|
Teck Resources, Ltd., Class B
|
8,215
|
217,615
|
||||||
|
Vedanta, Ltd., ADR
|
19,203
|
316,849
|
||||||
|
Wheaton Precious Metals Corp.
|
2,998
|
125,226
|
||||||
|
4,972,691
|
||||||||
|
Miscellaneous Manufacturing — 0.9%
|
||||||||
|
Alfa Laval AB
|
31,767
|
1,225,744
|
||||||
|
Alstom SA
|
920
|
32,790
|
||||||
|
Orica Ltd.
|
5,536
|
55,412
|
||||||
|
Siemens AG
|
1,920
|
306,077
|
||||||
|
Smiths Group, PLC
|
68,827
|
1,314,539
|
||||||
|
Sunny Optical Technology Group Co., Ltd.
|
13,204
|
397,715
|
||||||
|
Toshiba Corp.
|
96
|
3,832
|
||||||
|
3,336,109
|
||||||||
|
Office/Business Equip — 0.0%
|
||||||||
|
Canon, Inc.
|
2,700
|
59,381
|
||||||
|
Fujifilm Holdings Corp.
|
1,100
|
86,527
|
||||||
|
145,908
|
||||||||
|
Oil & Gas — 3.0%
|
||||||||
|
BP, PLC, SP ADR
|
1
|
26
|
||||||
|
Canadian Natural Resources, Ltd.
|
4,335
|
176,955
|
||||||
|
DCC, PLC
|
76,046
|
5,601,197
|
||||||
|
Eni SpA
|
89,183
|
1,175,230
|
||||||
|
Equinor ASA, SP ADR
|
3,137
|
78,613
|
||||||
|
Galp Energia SGPS SA
|
3,396
|
31,870
|
||||||
|
Idemitsu Kosan Co., Ltd.
|
1,100
|
28,296
|
||||||
|
Imperial Oil, Ltd.
|
2,792
|
92,387
|
||||||
|
Inpex Corp.
|
6,228
|
50,961
|
||||||
|
Lukoil , PJSC, SP ADR
|
11,605
|
1,023,329
|
||||||
|
Lundin Petroleum AB
|
1,163
|
41,100
|
||||||
|
Neste Oyj
|
756
|
35,756
|
||||||
|
Oil Search Ltd.
|
31,786
|
85,479
|
||||||
|
OMV AG
|
4,843
|
257,186
|
||||||
|
Petroleo Brasileiro, SP ADR
|
10,959
|
116,933
|
||||||
|
Reliance Industries, Ltd.
|
37,073
|
1,185,375
|
||||||
|
Repsol SA
|
7,844
|
86,676
|
||||||
|
Royal Dutch Shell, PLC, Class A, SP ADR
|
14,983
|
629,885
|
||||||
|
Total SA, SP ADR
|
7,259
|
333,841
|
||||||
|
Woodside Petroleum, Ltd.
|
7,291
|
110,621
|
||||||
|
11,141,716
|
||||||||
|
Packaging & Containers — 0.2%
|
||||||||
|
Ball Corp.
|
7,683
|
717,976
|
||||||
|
Pharmaceuticals — 7.4%
|
||||||||
|
Alfresa Holdings Corp.
|
237,700
|
3,216,068
|
||||||
|
Aspen Pharmacare Holdings, Ltd., ADR
|
6,986
|
104,860
|
||||||
|
Astellas Pharma, Inc.
|
88,200
|
1,383,008
|
||||||
|
Astellas Pharma, Inc., ADR
|
190
|
2,955
|
||||||
|
AstraZeneca, PLC, SP ADR
|
6,318
|
346,416
|
||||||
|
Bausch Health Cos., Inc.*
|
3,548
|
84,584
|
||||||
|
Bayer AG
|
575
|
29,001
|
||||||
|
Celltrion, Inc.*
|
120
|
20,888
|
||||||
|
Chugai Pharmaceutical Co., Ltd.
|
2,900
|
93,942
|
||||||
|
CSPC Pharmaceutical Group, Ltd.
|
23,040
|
23,887
|
||||||
|
Daiichi Sankyo Co., Ltd.
|
4,148
|
103,103
|
||||||
|
Daiichi Sankyo Co., Ltd., ADR
|
876
|
21,870
|
||||||
|
Dr. Reddy's Laboratories, Ltd., ADR
|
3,953
|
246,825
|
||||||
|
Eisai Co., Ltd.
|
692
|
41,821
|
||||||
|
Glaxosmithkline, PLC
|
174,756
|
3,548,081
|
||||||
|
Glaxosmithkline, PLC, SP ADR
|
8,330
|
342,530
|
||||||
|
Kobayashi Pharmaceutical Co., Ltd.
|
1,671
|
131,563
|
||||||
|
Merck KGaA
|
587
|
145,080
|
||||||
|
Novartis AG
|
42,139
|
3,358,720
|
||||||
|
Novartis AG, SP ADR
|
5,895
|
469,832
|
||||||
|
Novo Nordisk A/S
|
20,772
|
2,223,644
|
||||||
|
Novo-Nordisk AS, SP ADR
|
6,449
|
688,947
|
||||||
|
Ono Pharmaceutical Co, Ltd.
|
2,900
|
63,965
|
||||||
|
Orion Corporation, Class B
|
672
|
27,662
|
||||||
|
Otsuka Holdings Co., Ltd.
|
1,100
|
39,842
|
||||||
|
Recordati SpA
|
47,556
|
2,983,694
|
||||||
|
Roche Holdings AG
|
8,039
|
3,138,509
|
||||||
|
Roche Holdings AG, SP ADR
|
12,016
|
586,140
|
||||||
|
Sanofi
|
33,260
|
3,161,760
|
||||||
|
Sanofi, ADR
|
5,834
|
277,523
|
||||||
|
UCB SA
|
546
|
59,705
|
||||||
|
Zhangzhou Pientzehuang Pharmaceutical Co., Ltd., Class A
|
14,900
|
1,047,298
|
||||||
|
28,013,723
|
||||||||
|
Pipelines — 0.1%
|
||||||||
|
Enbridge, Inc.
|
6,937
|
260,415
|
||||||
|
TC Energy Corp.
|
166
|
7,787
|
||||||
|
268,202
|
||||||||
|
Private Equity — 0.8%
|
||||||||
|
3i Group, PLC
|
3,463
|
63,539
|
||||||
|
Antin Infrastructure Partners SA*
|
10,696
|
401,270
|
||||||
|
Bridgepoint Group Plc*(a)
|
112,246
|
728,492
|
||||||
|
Macquarie Korea Infrastructure Fund
|
26,497
|
312,659
|
||||||
|
Partners Group Holding AG
|
865
|
1,492,859
|
||||||
|
2,998,819
|
||||||||
|
Real Estate — 0.5%
|
||||||||
|
Aroundtown SA
|
6,368
|
38,156
|
||||||
|
China Resources Land, Ltd.
|
13,714
|
57,293
|
||||||
|
CK Asset Holdings, Ltd.
|
11,000
|
62,920
|
||||||
|
Daito Trust Construction Co., Ltd.
|
300
|
32,493
|
||||||
|
Deutsche Wohnen SE
|
1,095
|
49,112
|
||||||
|
Great Eagle Holdings, Ltd.
|
377,662
|
958,510
|
||||||
|
Longfor Group Holdings, Ltd.(a)
|
13,000
|
61,708
|
||||||
|
REA Group, Ltd.
|
633
|
72,463
|
||||||
|
Sun Hung Kai Properties, Ltd.
|
8,472
|
103,161
|
||||||
|
Sunac Services Holdings, Ltd.(a)
|
620
|
980
|
||||||
|
Swiss Prime Site AG
|
866
|
82,033
|
||||||
|
Vonovia SE
|
2,126
|
117,984
|
||||||
|
Wharf Holdings Ltd., (The)
|
14,000
|
48,923
|
||||||
|
Wharf Real Estate Investment Co., Ltd.
|
14,000
|
70,676
|
||||||
|
1,756,412
|
||||||||
|
REITS — 0.2%
|
||||||||
|
Ascendas Real Estate Investment Trust
|
23,000
|
49,154
|
||||||
|
CapitaLand Mall Trust
|
25,000
|
38,536
|
||||||
|
Daiwa House REIT Investment Corp.
|
24
|
68,704
|
||||||
|
Gecina SA
|
236
|
31,799
|
||||||
|
Goodman Group
|
6,677
|
116,542
|
||||||
|
Japan Prime Realty Investment Corp.
|
15
|
53,582
|
||||||
|
Japan Retail Fund Investment Corp.
|
76
|
65,574
|
||||||
|
Link
|
6,000
|
52,013
|
||||||
|
Nippon Building Fund Inc.
|
9
|
55,619
|
||||||
|
Nippon Prologis REIT, Inc.
|
25
|
81,651
|
||||||
|
Nomura Real Estate Master Fund, Inc.
|
22
|
31,365
|
||||||
|
Segro, PLC
|
5,434
|
101,557
|
||||||
|
Unibail-Rodamco-Westfield*
|
938
|
61,739
|
||||||
|
United Urban Investment Corp.
|
51
|
65,150
|
||||||
|
872,985
|
||||||||
|
Retail — 2.4%
|
||||||||
|
Alibaba Health Information Technology, Ltd.*
|
22,000
|
20,234
|
||||||
|
ANTA Sports Products, Ltd.
|
5,561
|
88,802
|
||||||
|
Astra International Tbk PT, ADR
|
3,615
|
29,028
|
||||||
|
Cie Financiere Richemont SA, ADR
|
12,160
|
180,698
|
||||||
|
Fast Retailing Co., Ltd.
|
147
|
87,027
|
||||||
|
Hennes & Mauritz AB, Class B
|
2,490
|
43,893
|
||||||
|
Industria de Diseno Textil SA, ADR
|
7,152
|
113,073
|
||||||
|
Li Ning Co., Ltd.
|
31,298
|
353,999
|
||||||
|
Moncler SpA
|
774
|
55,880
|
||||||
|
Next, PLC
|
352
|
36,775
|
||||||
|
Nitori Holdings Co., Ltd.
|
353
|
55,946
|
||||||
|
Pan Pacific International Holdings Corp.
|
2,000
|
34,140
|
||||||
|
Restaurant Brands International, Inc.
|
3,260
|
182,658
|
||||||
|
Sundrug Co., Ltd.
|
18,400
|
485,829
|
||||||
|
Swatch Group AG, (The)
|
11,466
|
3,367,673
|
||||||
|
TITAN COMPANY, Ltd.
|
20,555
|
649,385
|
||||||
|
Tsuruha Holdings
|
21,900
|
2,477,595
|
||||||
|
Wal-Mart de Mexico SAB de CV
|
119,748
|
376,403
|
||||||
|
Wal-Mart de Mexico SAB de CV, SP ADR
|
1,129
|
35,552
|
||||||
|
Welcia Holdings Co., Ltd.
|
3,272
|
116,343
|
||||||
|
Yum China Holdings, Inc.
|
2,310
|
115,731
|
||||||
|
Zalando SE*(a)
|
166
|
15,096
|
||||||
|
Zhongsheng Group Holdings, Ltd.
|
7,000
|
57,336
|
||||||
|
8,979,096
|
||||||||
|
Semiconductors — 8.5%
|
||||||||
|
ASE Technology Holding Co., Ltd. ADR
|
6,033
|
44,101
|
||||||
|
ASML Holding NV
|
1,712
|
1,343,709
|
||||||
|
ASML Holding NV, ADR
|
1,129
|
893,615
|
||||||
|
Infineon Technologies AG
|
13,110
|
592,746
|
||||||
|
Mediatek, Inc.
|
29,000
|
1,051,269
|
||||||
|
Micron Technology, Inc.
|
7,636
|
641,424
|
||||||
|
NVIDIA Corp.
|
3,094
|
1,010,996
|
||||||
|
Rohm Co., Ltd.
|
40
|
3,715
|
||||||
|
Samsung Electronic Co., Ltd.
|
98,846
|
5,933,353
|
||||||
|
Samsung Electronic Co., Ltd., GDR
|
3,477
|
5,197,743
|
||||||
|
SK Hynix, Inc.
|
917
|
87,666
|
||||||
|
SUMCO Corp.
|
34
|
737
|
||||||
|
Taiwan Semiconductor Manufacturing Co., Ltd.
|
226,000
|
4,806,724
|
||||||
|
Taiwan Semiconductor Manufacturing Co., Ltd., SP ADR
|
81,879
|
9,592,125
|
||||||
|
Tokyo Electron, Ltd.
|
400
|
210,188
|
||||||
|
Tokyo Electron, Ltd., ADR
|
1,048
|
138,074
|
||||||
|
United Microelectronics Corp., SP ADR
|
36,418
|
423,541
|
||||||
|
31,971,726
|
||||||||
|
Software — 2.1%
|
||||||||
|
Bilibili, Inc., SP ADR*
|
785
|
51,818
|
||||||
|
BlackBerry, Ltd.*
|
10,732
|
102,169
|
||||||
|
Dassault Systemes SE
|
2,375
|
143,167
|
||||||
|
Dassault Systemes SE, ADR
|
2,450
|
147,833
|
||||||
|
Freshworks, Inc., Class A*
|
9,163
|
322,721
|
||||||
|
Kaspi.KZ JSC*
|
6,444
|
834,257
|
||||||
|
Kingdee International Software Group Co., Ltd.*
|
8,000
|
24,011
|
||||||
|
Kingsoft Corp, Ltd.
|
6,000
|
25,963
|
||||||
|
NetEase, Inc., ADR
|
15,430
|
1,662,274
|
||||||
|
Nexon Co., Ltd.
|
14,900
|
295,805
|
||||||
|
Open Text Corp.
|
2,121
|
100,557
|
||||||
|
Playtech, PLC*
|
180,328
|
1,789,106
|
||||||
|
SAP SE, SP ADR
|
2,315
|
297,339
|
||||||
|
SimCorp A/S
|
15,635
|
1,584,846
|
||||||
|
TeamViewer AG*
|
4,442
|
29,761
|
||||||
|
Temenos AG
|
259
|
33,125
|
||||||
|
TOTVS SA*
|
37,271
|
210,028
|
||||||
|
Unity Software, Inc.*
|
1,660
|
286,167
|
||||||
|
7,940,947
|
||||||||
|
Telecommunications — 2.6%
|
||||||||
|
America Movil SAB de CV, Class L, SP ADR
|
7,257
|
126,417
|
||||||
|
BCE, Inc.
|
5,954
|
299,903
|
||||||
|
Belgacom SA
|
29,202
|
530,806
|
||||||
|
Bharti Airtel Ltd.*
|
38,356
|
371,709
|
||||||
|
Chunghwa Telecom Co., Ltd., SP ADR
|
10,212
|
409,501
|
||||||
|
Deutsche Telekom AG, SP ADR
|
5,690
|
100,941
|
||||||
|
Elisa OYJ
|
619
|
37,169
|
||||||
|
GDS Holdings, Ltd., ADR*
|
939
|
52,622
|
||||||
|
KDDI Corp.
|
69,948
|
2,029,553
|
||||||
|
Millicom International Cellular SA, SDR*
|
116
|
3,645
|
||||||
|
MTN Group, Ltd.*
|
49,174
|
496,028
|
||||||
|
NICE Ltd., SP ADR*
|
288
|
84,090
|
||||||
|
Nippon Telegraph & Telephone Corp.
|
2,100
|
57,783
|
||||||
|
Nippon Telegraph & Telephone Corp. ADR
|
984
|
27,134
|
||||||
|
Nokia OYJ, SP ADR*
|
12,708
|
71,165
|
||||||
|
Orange SA
|
5,001
|
53,764
|
||||||
|
PLDT, Inc., SP ADR
|
2,630
|
87,553
|
||||||
|
SK Telecom Co Ltd., ADR
|
3,752
|
172,576
|
||||||
|
SoftBank Corp.
|
7,979
|
109,828
|
||||||
|
Softbank Group Corp., ADR
|
7,968
|
209,399
|
||||||
|
Swisscom AG
|
318
|
176,652
|
||||||
|
Tele2 AB, Class B
|
1,551
|
22,134
|
||||||
|
Telefonaktiebolaget LM Ericsson, Class B
|
397,483
|
3,995,684
|
||||||
|
Telefonaktiebolaget LM Ericsson, SP ADR
|
2,495
|
24,950
|
||||||
|
Telefonica SA
|
9,365
|
42,489
|
||||||
|
Telenor ASA, ADR
|
3,481
|
51,066
|
||||||
|
9,644,561
|
||||||||
|
Toys/Games/Hobbies — 0.1%
|
||||||||
|
Bandai Namco Holdings, Inc.
|
800
|
62,266
|
||||||
|
Nintendo Co., Ltd.
|
200
|
88,204
|
||||||
|
Nintendo Co., Ltd., ADR
|
1,152
|
63,452
|
||||||
|
213,922
|
||||||||
|
Transportation — 0.4%
|
||||||||
|
Aurizon Holdings, Ltd.
|
22,111
|
52,878
|
||||||
|
Canadian National Railway Co.
|
3,433
|
434,515
|
||||||
|
Canadian Pacific Railway, Ltd.
|
1,761
|
123,323
|
||||||
|
Central Japan Railway Co.
|
304
|
41,793
|
||||||
|
Deutsche Post AG, SP ADR
|
3,012
|
178,913
|
||||||
|
DSV PANALPINA A S, ADR
|
826
|
89,670
|
||||||
|
East Japan Railway Co.
|
900
|
55,179
|
||||||
|
Mitsui OSK Lines, Ltd.
|
3,000
|
171,009
|
||||||
|
Poste Italiane SpA(a)
|
3,442
|
43,286
|
||||||
|
SG Holdings Co., Ltd.
|
2,446
|
53,987
|
||||||
|
ZTO Express Cayman, Inc., ADR
|
3,209
|
101,436
|
||||||
|
1,345,989
|
||||||||
|
Water — 1.0%
|
||||||||
|
Severn Trent, PLC
|
2,060
|
78,929
|
||||||
|
United Utilities Group, PLC
|
249,463
|
3,582,998
|
||||||
|
3,661,927
|
||||||||
|
TOTAL COMMON STOCKS
|
||||||||
|
(Cost $280,832,187)
|
342,957,503
|
|||||||
|
EXCHANGE TRADED FUNDS - 0.2%
|
||||||||
|
Diversified Financial Services — 0.2%
|
||||||||
|
Ishares MSCI India ETF
|
10,140
|
481,853
|
||||||
|
iShares MSCI Saudi Arabia ETF
|
7,882
|
310,472
|
||||||
|
792,325
|
||||||||
|
TOTAL EXCHANGE TRADED FUNDS
|
||||||||
|
(Cost $635,506)
|
792,325
|
|||||||
|
PREFERRED STOCKS - 0.4%
|
||||||||
|
Auto Manufacturers — 0.0%
|
||||||||
|
Porsche Auto SE 2.986%
|
851
|
71,395
|
||||||
|
Banks — 0.1%
|
||||||||
|
Banco Bradesco SA, ADR 6.087%
|
40,500
|
142,560
|
||||||
|
Bancolombia SA, SP ADR 1.605%
|
1,414
|
45,050
|
||||||
|
187,610
|
||||||||
|
Chemicals — 0.1%
|
||||||||
|
Fuchs Petrolub SE 2.514%
|
11,703
|
525,584
|
||||||
|
Cosmetics/Personal Care — 0.2%
|
||||||||
|
LG Household & Health Care, Ltd. 1.854%
|
1,503
|
752,779
|
||||||
|
Electronics — 0.0%
|
||||||||
|
Sartorius AG 0.123%
|
88
|
60,538
|
||||||
|
TOTAL PREFERRED STOCKS
|
||||||||
|
(Cost $1,693,510)
|
1,597,906
|
|||||||
|
RIGHTS - 0.0%
|
||||||||
|
Real Estate — 0.0%
|
||||||||
|
Vonovia SE *
|
2,126
|
7,498
|
||||||
|
TOTAL RIGHTS
|
||||||||
|
(Cost $7,040)
|
7,498
|
|||||||
|
SHORT-TERM INVESTMENTS - 7.9%
|
||||||||
|
U.S. Bank Money Market Deposit Account, 0.06%(b)
|
29,657,480
|
29,657,480
|
||||||
|
TOTAL SHORT-TERM INVESTMENTS
|
||||||||
|
(Cost $29,657,480)
|
29,657,480
|
|||||||
|
TOTAL INVESTMENTS - 99.5%
|
||||||||
|
(Cost $312,825,723)
|
375,012,712
|
|||||||
|
OTHER ASSETS IN EXCESS OF LIABILITIES - 0.5%
|
1,863,768
|
|||||||
|
NET ASSETS - 100.0%
|
$
|
376,876,480
|
||||||
|
|
|||||||||
|
*
|
Non-income producing security.
|
||||||||
|
(a)
|
Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt
from registration to qualified institutional buyers.
As of November 30, 2021, total market value of Rule 144A securities is $5,583,462 and represents 1.48% of net assets.
|
||||||||
|
(b)
|
The rate shown is as of November 30, 2021.
|
||||||||
|
ADR
|
American Depositary Receipt
|
||||||||
|
GDR
|
Global Depositary Receipt
|
||||||||
|
PLC
|
Public Limited Company
|
||||||||
|
REIT
|
Real Estate Investment Trust
|
||||||||
|
SDR
|
Special Drawing Right
|
||||||||
|
SP ADR
|
Sponsored ADR
|
||||||||
|
The accompanying notes are an integral part of the financial statements.
|
|||||||||
|
AQUARIUS INTERNATIONAL FUND
|
|||||||||
|
NOTES TO PORTFOLIO OF INVESTMENTS
|
|||||||||
|
NOVEMBER 30, 2021 (UNAUDITED)
|
|||||||||
|
PORTFOLIO VALUATION – The
Fund's net asset value (“NAV”) is calculated once daily at the close of regular trading hours on the New York Stock Exchange (“NYSE”) (generally 4:00 p.m. Eastern time) on each day the NYSE is open. Securities held by the Funds are valued
using the closing price or the last sale price on a national securities exchange or the National Association of Securities Dealers Automatic Quotation System (“NASDAQ”) market system where they are primarily traded. Equity securities traded
in the over-the-counter ("OTC") market are valued at their closing prices. If there were no transactions on that day, securities traded principally on an exchange or on NASDAQ will be valued at the mean of the last bid and ask prices prior to
the market close. Fixed income securities are valued using an independent pricing service, which considers such factors as security prices, yields, maturities and ratings, and are deemed representative of market values at the close of the
market. Investments in Exchange-Traded Funds ("ETFs") are valued at their last reported sale price. Foreign securities are valued based on prices from the primary market in which they are traded, and are translated from the local currency
into U.S. dollars using current exchange rates. Investments in other open-end investment companies, if any, are valued based on the NAV of those investment companies (which may use fair value pricing as disclosed in their prospectuses). If
market quotations are unavailable or deemed unreliable, securities will be valued in accordance with procedures adopted by the RBB Fund, Inc.’s Board of Directors (the “Board”). Relying on prices supplied by pricing services or dealers or
using fair valuation may result in values that are higher or lower than the values used by other investment companies and investors to price the same investments.
|
|||||||||
|
FAIR VALUE MEASUREMENTS – The
inputs and valuation techniques used to measure the fair value of the Fund's investments are summarized into three levels as
|
|||||||||
|
described in the hierarchy below:
|
|||||||||
|
• Level 1 — Prices are determined using quoted prices in active markets for identical securities.
|
|||||||||
|
• Level 2 — Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest
rates, prepayment speeds, credit risk, etc.).
|
|||||||||
|
• Level 3 — Prices are determined using significant unobservable inputs (including the Fund's own assumptions in determining the fair
value of investments).
|
|||||||||
|
The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in
those securities.
|
|||||||||
|
The following is a summary of the inputs used, as of November 30, 2021, in valuing the Fund's investments carried at fair value:
|
|||||||||
|
TOTAL
|
LEVEL 1
|
LEVEL 2
|
LEVEL 3
|
|||||||||||||
|
AQUARIUS INTERNATIONAL FUND
|
||||||||||||||||
|
Common Stocks
|
$
|
342,957,503
|
$
|
93,760,469
|
$
|
249,197,034
|
||||||||||
|
Exchange-Traded Funds
|
792,325
|
792,325
|
–
|
–
|
||||||||||||
|
Preferred Stocks
|
1,597,906
|
713,194
|
884,712
|
–
|
||||||||||||
|
Rights
|
7,498
|
7,498
|
–
|
–
|
||||||||||||
|
Short-Term Investments
|
29,657,480
|
29,657,480
|
–
|
–
|
||||||||||||
|
Total Investments*
|
$
|
375,012,712
|
$
|
124,930,966
|
$
|
250,081,746
|
$
|
-
|
||||||||
|
|
||||||||||||||||
|
* Please refer to Portfolio of Investments for further details.
|
||||||||||||||||
|
At the end of each quarter, management evaluates the classification of Levels 1, 2 and 3 assets and liabilities. Various factors are
considered, such as changes in liquidity from the prior reporting period; whether or not a broker is willing to execute at the quoted price; the depth and consistency of prices from third party pricing services; and the existence of
contemporaneous, observable trades in the market. Additionally, management evaluates the classification of Levels 1, 2 and 3 assets and liabilities on a quarterly basis for changes in listings or delistings on national exchanges.
|
|||||||||
|
Due to the inherent uncertainty of determining the fair value of investments that do not have a readily available market value, the
fair value of the Fund’s investments may fluctuate from period to period. Additionally, the fair value of investments may differ significantly from the values that would have been used had a ready market existed for such investments and may
differ materially from the values the Fund may ultimately realize. Further, such investments may be subject to legal and other restrictions on resale or otherwise less liquid than publicly traded securities.
|
|||||||||
|
For fair valuations using significant unobservable inputs, U.S. generally accepted accounting principles (“U.S. GAAP”) requires the
Fund to present a reconciliation of the beginning to ending balances for reported market values that presents changes attributable to total realized and unrealized gains or losses, purchase and sales, and transfers in and out of Level 3
during the period. Transfers in and out between levels are based on values at the end of the period. A reconciliation of Level 3 investments is presented only when the Fund had an amount of Level 3 investments at the end of the reporting
period that was meaningful in relation to its net assets. The amounts and reasons for Level 3 transfers are disclosed if the Fund had an amount of total transfers during the reporting period that was meaningful in relation to its net assets
as of the end of the reporting period.
|
|||||||||
|
For the period ended November 30, 2021, the Fund had no Level 3 transfers.
|
|||||||||
|
For more information with regard to significant accounting policies, see the most recent semi-annual or annual report filed with the
Securities and Exchange Commission.
|
|||||||||