UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

________

FORM N-CSRS

________

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT

INVESTMENT COMPANIES

Investment Company Act file number 811-05601

SEI Institutional International Trust

(Exact name of registrant as specified in charter)

________

SEI Investments

One Freedom Valley Drive

Oaks, PA 19456

(Address of principal executive offices)

Timothy D. Barto, Esq.

SEI Investments Co.

One Freedom Valley Drive

Oaks, PA 19456

(Name and address of agent for service)

Registrant’s telephone number, including area code: 1-610-676-1000

Date of fiscal year end: September 30, 2022

Date of reporting period: March 31, 2022

Item 1. Reports to Stockholders.

March 31, 2022

SEMI-ANNUAL REPORT

SEI Institutional International Trust

❯ International Equity Fund

❯ Emerging Markets Equity Fund

❯ International Fixed Income Fund

❯ Emerging Markets Debt Fund

Paper copies of the Funds’ shareholder reports are no longer sent by mail, unless you specifically request them from the Funds or from your financial intermediary, such as a broker-dealer or bank. Shareholder reports are available online and you will be notified by mail each time a report is posted on the Funds’ website and provided with a link to access the report online.

You may elect to receive all future reports in paper free of charge. If you invest through a financial intermediary, you can contact your financial intermediary to inform it that you wish to continue receiving paper copies of your shareholder reports. If you invest directly with the Funds, you can inform the Funds that you wish to continue receiving paper copies of your shareholder reports by calling 1-800-DIAL-SEI. Your election to receive reports in paper will apply to all funds held with the SEI Funds or your financial intermediary.

seic.com

TABLE OF CONTENTS

Schedule of Investments	1
Statements of Assets and Liabilities	67
Statements of Operations	69
Statements of Changes in Net Assets	70
Financial Highlights	72
Notes to Financial Statements	74
Disclosure of Fund Expenses	92
Liquidity Risk Management Program	93
Board of Trustees Considerations in Approving the Advisory Agreement	94

The Trust files its complete schedule of portfolio holdings with the Securities and Exchange Commission for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The Trust’s Form N-PORT reports are available on the Commission’s website at http://www.sec.gov.

A description of the policies and procedures that the Trust uses to determine how to vote proxies relating to portfolio securities, as well as information relating to how a Fund voted proxies relating to portfolio securities during the most recent 12-month period ended June 30, is available (i) without charge, upon request, by calling 1-800-DIAL-SEI; and (ii) on the Commission’s website at http://www.sec.gov.

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

International Equity Fund

^†Percentages based on total investments. Includes investments held as collateral for securities on loan (see Note 9). Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.

Description	Shares		Market Value ($ Thousands)
COMMON STOCK — 94.7%
Australia — 3.2%
Adbri Ltd		140,611	$	317
Altium Ltd		27,787		706
Ardent Leisure Group Ltd *		37,184		37
Aristocrat Leisure Ltd		91,540		2,489
Australian Clinical Labs Ltd		12,911		50
BHP Group Ltd		84,122		3,233
BlueScope Steel Ltd		896,249		13,882
Champion Iron Ltd		249,756		1,450
Cogstate Ltd *		2,086		4
Commonwealth Bank of Australia		29,059		2,292
Computershare Ltd		306,774		5,634
CSL Ltd		48,918		9,805
CSR Ltd		807,866		3,708
Fortescue Metals Group Ltd		765,816		11,715
GrainCorp Ltd, Cl A		79,641		505
Iluka Resources Ltd		548,642		4,611
Imdex Ltd		135,801		276
Incitec Pivot Ltd		2,387,950		6,756
James Hardie Industries PLC ADR		17,924		540
Jumbo Interactive Ltd		12,841		180
Lynas Rare Earths Ltd *		1,466,436		11,699
MA Financial Group Ltd		23,302		140
Orora Ltd		1,681,934		4,532
Premier Investments Ltd		7,325		150
Ridley Corp Ltd		47,083		59
Shaver Shop Group Ltd		30,839		27
South32 Ltd		7,856,451		29,437
Westpac Banking Corp		167,833		3,034
Whitehaven Coal Ltd		4,178,286		12,950
WiseTech Global Ltd		178,932		6,774
Woodside Petroleum Ltd		167,166		4,019
				141,011

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Austria — 0.4%
ANDRITZ AG		72,724	$	3,385
Erste Group Bank AG		1,751		64
OMV AG		230,693		11,066
Raiffeisen Bank International AG *		39,393		562
voestalpine AG		29,429		883
				15,960
Belgium — 0.0%
D'ieteren Group		6,872		1,167
Brazil — 0.4%
JBS SA		1,782,800		14,065
Petroleo Brasileiro SA ADR		308,960		4,573
				18,638
Canada — 2.8%
Advantage Energy Ltd *		224,783		1,568
Air Canada, Cl A *		448,700		8,711
Alimentation Couche-Tard Inc		134,200		6,051
Amerigo Resources Ltd		25,300		37
Aritzia Inc *		99,400		4,061
Birchcliff Energy Ltd		269,560		1,804
Black Diamond Group Ltd		4,100		16
BRP Inc		7,700		631
Canadian National Railway Co		71,682		9,624
Canadian Pacific Railway Ltd		157,304		12,984
Canfor Corp *		120,381		2,483
Capstone Copper Corp *		245,700		1,391
Celestica Inc *		145,600		1,733
CES Energy Solutions Corp		17,153		33
CI Financial Corp		208,900		3,322
Dexterra Group Inc		6,200		39
Empire Co Ltd, Cl A		189,900		6,741
Ensign Energy Services Inc *		37,800		105
Fairfax Financial Holdings Ltd		6,300		3,440
Finning International Inc		17,500		527
First Quantum Minerals Ltd		382,278		13,246
George Weston Ltd		41,600		5,127
Gildan Activewear Inc		123,200		4,625
iA Financial Corp Inc		6,200		377
Imperial Oil Ltd		26,600		1,288
Intertape Polymer Group Inc		31,600		1,004
Leon's Furniture Ltd		21,000		375
Linamar Corp		3,600		160
Martinrea International Inc		8,200		59
MEG Energy Corp *		275,600		3,767
Mullen Group Ltd		26,400		282
North West Co Inc/The		10,400		319
Onex Corp		145,560		9,764
Peyto Exploration & Development Corp		191,700		1,946
Richelieu Hardware Ltd		17,008		620
Russel Metals Inc		31,084		824
Stelco Holdings Inc		71,100		2,960
Tourmaline Oil Corp		155,800		7,185

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

1

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

International Equity Fund (Continued)

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Trican Well Service Ltd *		159,959	$	476
Uni-Select Inc *		62,513		1,527
Viemed Healthcare Inc *		43,126		217
				121,449
Chile — 0.0%
Cia Cervecerias Unidas SA ADR		11,185		167
China — 0.6%
Alibaba Group Holding Ltd *		1,059,200		14,363
Beijing Capital International Airport Co Ltd, Cl H *		7,530,000		4,399
Shenzhou International Group Holdings Ltd		286,700		3,782
STMicroelectronics NV		121,970		5,313
				27,857
Denmark — 3.6%
AP Moller - Maersk A/S, Cl A		126		375
AP Moller - Maersk A/S, Cl B		8,422		25,596
Carlsberg AS, Cl B		40,237		4,959
Demant A/S *		71,479		3,255
DSV A/S		108,374		21,005
Genmab A/S *		8,690		3,184
Novo Nordisk A/S, Cl B		719,666		80,364
Orsted AS		76,963		9,736
Pandora A/S		100,629		9,694
				158,168
Finland — 0.8%
Fiskars OYJ Abp		3,204		77
Fortum Oyj		97,835		1,782
Kesko Oyj, Cl B		559,040		15,470
Marimekko Oyj		918		78
Neste Oyj		150,837		6,925
Orion Oyj, Cl B		174,253		7,954
Ponsse Oyj		807		29
UPM-Kymmene Oyj		23,011		754
				33,069
France — 12.6%
Air Liquide SA		171,206		30,116
Airbus SE		192,099		23,361
AKWEL		752		17
Alstom SA		618,762		14,539
Amundi SA		33,662		2,317
Arkema SA		33,570		4,037
Aubay		449		30
AXA SA		1,513,357		44,481
BNP Paribas SA		79,014		4,535
Bollore SE		3,159,022		16,641
Bouygues SA		11,684		410
Bureau Veritas SA		67,642		1,944
Carrefour SA		1,725,539		37,594
Cie de Saint-Gobain		21,324		1,276
Cie Generale des Etablissements Michelin SCA, Cl B		19,190		2,613

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Criteo SA ADR *		914	$	25
Danone SA		549,186		30,546
Dassault Aviation SA		5,981		953
Derichebourg SA		5,660		59
Edenred		59,778		2,972
Esker SA		1,278		242
Eurofins Scientific SE		136,390		13,566
Interparfums SA		2,419		146
Ipsen SA		62,682		7,887
IPSOS		18,645		932
Jacquet Metals SACA		2,171		47
L'Oreal SA		32,688		13,173
LVMH Moet Hennessy Louis Vuitton SE		13,200		9,462
Orange SA		787,090		9,348
Pernod Ricard SA		60,583		13,377
Publicis Groupe SA		369,162		22,520
Rexel SA		312,272		6,708
Sanofi		556,223		57,220
Sartorius Stedim Biotech		32,323		13,341
Schneider Electric SE		91,818		15,505
Societe Generale SA		373,134		10,068
Sodexo SA		225,530		18,451
Somfy SA		913		148
Stellantis NV		1,249,532		20,385
Thales SA		204,106		25,817
TotalEnergies SE (A)		488,017		24,796
Trigano SA		9,636		1,413
Valeo		270,310		4,986
Veolia Environnement SA		886,578		28,620
Vetoquinol SA		50		7
Vilmorin & Cie SA		1,420		70
Vinci SA		102,570		10,568
Vivendi SE		414,190		5,430
Wendel SE		5,144		527
				553,226
Germany — 5.6%
adidas AG		88,228		20,748
AT&S Austria Technologie & Systemtechnik AG		288		16
Bayer AG		300,389		20,632
BioNTech SE ADR *		41,355		7,054
Carl Zeiss Meditec AG		37,845		6,156
Continental AG		18,840		1,359
Daimler Truck Holding AG *		1		–
Deutsche Bank AG		622,087		7,915
Deutsche Boerse AG		58,044		10,478
Deutsche Post AG		94,800		4,556
Deutsche Telekom AG		48,367		911
E.ON SE		554,314		6,479
ElringKlinger AG		6,845		65
Fresenius Medical Care AG & Co KGaA		283,050		19,090
GEA Group AG		52,394		2,166

2

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Hannover Rueck SE		14,800	$	2,531
Indus Holding AG		1,376		41
Knorr-Bremse AG		116,440		8,983
Krones AG		5,055		423
Linde PLC		33,762		10,845
Merck KGaA		134,549		28,356
Nemetschek SE		7,125		693
PSI Software AG		876		38
Rheinmetall AG		14,187		3,014
RTL Group SA		8,122		455
RWE AG *		471,691		20,663
SAP SE		371,462		41,521
Siemens AG		138,231		19,170
Wacker Chemie AG		16,454		2,817
Washtec AG		387		21
				247,196
Hong Kong — 1.3%
AIA Group Ltd		850,000		8,877
ASM Pacific Technology Ltd		32,300		325
Chaoda Modern Agriculture Holdings Ltd *		2,440,000		15
Chow Tai Fook Jewellery Group Ltd		434,000		784
Galaxy Entertainment Group Ltd *		2,755,000		16,303
Hong Kong Exchanges & Clearing Ltd		228,862		10,743
Li Ning Co Ltd		557,500		4,763
Orient Overseas International Ltd		108,000		2,858
Sands China Ltd *		5,274,800		12,588
SITC International Holdings Co Ltd		203,000		713
				57,969
Hungary — 0.0%
MOL Hungarian Oil & Gas PLC		7,466		66
India — 0.0%
Kewal Kiran Clothing Ltd		25,668		68
Indonesia — 0.1%
Bank Mandiri Persero Tbk PT		3,763,500		2,090
Ireland — 1.4%
Accenture PLC, Cl A		57,747		19,474
CRH PLC		18,660		752
Experian PLC		238,951		9,288
ICON PLC ADR *		74,798		18,192
Ryanair Holdings PLC ADR *		160,795		14,009
				61,715
Israel — 1.8%
Azrieli Group Ltd		9,699		853
Bank Hapoalim BM		2,809,023		27,799
Bank Leumi Le-Israel BM		2,915,342		31,560
Bezeq The Israeli Telecommunication Corp Ltd *		504,549		868
FIBI Holdings Ltd		17,608		853
First International Bank Of Israel Ltd/The		2,940		127
Formula Systems 1985 Ltd		582		58
Fox Wizel Ltd		512		82

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Israel Discount Bank Ltd, Cl A		1,188,452	$	7,433
Mizrahi Tefahot Bank Ltd		178,300		6,995
YH Dimri Construction & Development Ltd		33		3
				76,631
Italy — 3.7%
Assicurazioni Generali SpA (A)		383,089		8,785
Azimut Holding SpA		141,983		3,314
Banca IFIS SpA		4,498		93
CNH Industrial NV		1,091,677		17,368
Danieli & C Officine Meccaniche SpA		3,674		58
Enel SpA		3,587,978		24,101
Eni SpA		1,587,619		23,368
EXOR NV		168,422		12,897
Ferrari NV		39,175		8,541
FinecoBank Banca Fineco SpA		1,177		18
Iveco Group NV *		77,341		509
MFE-MediaForEurope NV, Cl A *(A)		360,579		254
MFE-MediaForEurope NV, Cl B *		360,579		421
Recordati Industria Chimica e Farmaceutica SpA		78,772		3,982
Stellantis NV		321,509		5,233
Tenaris SA		617,442		9,372
UniCredit SpA		3,916,294		42,274
				160,588
Japan — 14.2%
77 Bank Ltd/The		86,064		1,086
Advantest Corp		130,700		10,289
AEON Financial Service Co Ltd (A)		236,600		2,336
AGC Inc		360,365		14,469
Ai Holdings Corp		3,900		54
Aisan Industry Co Ltd		15,700		93
Anest Iwata Corp		4,800		32
Arcs Co Ltd		24,200		420
Asahi Group Holdings Ltd		122,100		4,447
Asahi Kasei Corp		211,300		1,833
ASKUL Corp		63,200		832
Axial Retailing Inc		1,600		42
Bandai Namco Holdings Inc		275,802		20,943
Belc Co Ltd		1,100		49
BIPROGY Inc		171,500		4,358
Bridgestone Corp		451,702		17,531
Brother Industries Ltd (A)		91,000		1,662
Canon Inc		377,000		9,251
Canon Marketing Japan Inc		94,900		1,956
Capcom Co Ltd (A)		319,500		7,767
Chori Co Ltd		3,400		49
Chubu Shiryo Co Ltd		2,800		23
Coca-Cola Bottlers Japan Holdings Inc		19,800		233
Dai-ichi Life Holdings Inc		315,800		6,387
Daiichi Sankyo Co Ltd		87,200		1,913
Daito Trust Construction Co Ltd		74,200		7,901
Daiwa House Industry Co Ltd (A)		44,700		1,170

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

3

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

International Equity Fund (Continued)

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
DeNA Co Ltd *		39,600	$	602
Denso Corp		23,100		1,477
Digital Arts Inc		800		48
Digital Holdings Inc *		8,400		96
Disco Corp (A)		21,300		5,958
Doshisha Co Ltd		2,300		28
Earth Corp		3,600		165
Eisai Co Ltd		9,900		460
en Japan Inc		16,400		395
Exedy Corp		8,300		107
FANUC Corp		160,300		28,315
FCC Co Ltd		5,900		65
Feed One Co Ltd		4,900		27
Fujibo Holdings Inc		900		25
Fujitsu Ltd		184,100		27,649
FuKoKu Co Ltd		3,300		25
Futaba Industrial Co Ltd		10,000		30
Glory Ltd (A)		93,100		1,580
GungHo Online Entertainment Inc *		60,200		1,285
Gunze Ltd		1,600		49
H.U. Group Holdings Inc (A)		21,100		503
Himaraya Co Ltd		3,000		24
Hino Motors Ltd (A)		101,600		593
Hitachi Ltd		153,700		7,730
Hoosiers Holdings		12,200		65
Ichikoh Industries Ltd		7,800		26
Iida Group Holdings Co Ltd (A)		55,800		966
IJTT Co Ltd		4,600		20
I-NE Co Ltd *		700		18
Infocom Corp		2,600		45
Inpex Corp		181,000		2,139
I-PEX Inc		5,900		71
Iseki & Co Ltd		2,900		31
Isuzu Motors Ltd		59,000		763
ITOCHU Corp (A)		231,400		7,855
JAC Recruitment Co Ltd		20,300		308
Japan Exchange Group Inc		412,542		7,683
Japan Post Insurance Co Ltd (A)		266,900		4,649
Japan Tobacco Inc		86,200		1,477
Japan Wool Textile Co Ltd/The		8,900		65
JP-Holdings Inc		13,300		24
JSR Corp (A)		111,700		3,313
Kakiyasu Honten Co Ltd		1,300		26
Kao Corp		367,700		15,159
KDDI Corp (A)		428,700		14,100
Keyence Corp		35,921		16,777
Kirin Holdings Co Ltd		44,000		659
Kitz Corp		6,600		37
Kokuyo Co Ltd		224,500		2,968
Komori Corp		12,000		71
Konica Minolta Inc (A)		601,400		2,531
Kumagai Gumi Co Ltd		2,300		51

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Kyowa Kirin Co Ltd		72,800	$	1,698
Lasertec Corp		40,800		6,784
Lawson Inc		49,700		1,912
Life Corp		4,100		106
Makita Corp		267,000		8,560
Mandom Corp		20,000		215
Marubeni Corp		105,600		1,227
Maruha Nichiro Corp		3,900		77
Mazda Motor Corp (A)		762,100		5,618
Medical System Network Co Ltd, Cl A		12,800		57
Megmilk Snow Brand Co Ltd		2,400		39
Mitsuba Corp		26,800		81
Mitsubishi Corp (A)		83,800		3,153
Mitsubishi Electric Corp		1,376,600		15,879
Mitsubishi Shokuhin Co Ltd		10,300		255
Mitsui & Co Ltd		29,700		806
Mixi Inc (A)		70,200		1,267
Mizuno Corp		44,000		760
Murata Manufacturing Co Ltd		251,600		16,678
Nachi-Fujikoshi Corp		1,600		55
Naigai Trans Line Ltd		1,400		22
Nexon Co Ltd		697,100		16,526
Nihon Chouzai Co Ltd		4,500		49
Nihon M&A Center Holdings Inc		87,100		1,225
Nikon Corp (A)		707,100		7,584
Nippon Concept Corp		4,100		52
Nippon Suisan Kaisha Ltd (A)		63,500		285
Nippon Telegraph & Telephone Corp (A)		221,300		6,450
Nippon Yusen KK (A)		23,600		2,074
Nishio Rent All Co Ltd		2,500		57
Nisshin Seifun Group Inc (A)		22,600		317
Nisshinbo Holdings Inc		93,000		810
Nitto Denko Corp		46,500		3,344
NOK Corp		5,000		47
Nomura Co Ltd		9,200		69
Okuwa Co Ltd		81,900		620
Olympus Corp (A)		47,100		900
Open House Group Co Ltd		16,000		710
ORIX Corp		629,666		12,548
Panasonic Holdings Corp		332,300		3,231
Persol Holdings Co Ltd		176,200		3,963
Pickles Corp		6,100		81
Pola Orbis Holdings Inc		33,100		432
Qol Holdings Co Ltd		4,800		46
Recruit Holdings Co Ltd		555,300		24,384
Ride On Express Holdings Co Ltd		3,000		31
Riken Corp		3,200		64
Riken Vitamin Co Ltd		3,200		44
Rohm Co Ltd		6,900		539
Rohto Pharmaceutical Co Ltd		3,700		112
Sangetsu Corp		6,100		76
Sankyo Co Ltd		147,600		4,109

4

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Sansha Electric Manufacturing Co Ltd		8,600	$	56
Sanwa Holdings Corp (A)		214,700		2,182
SBI Holdings Inc/Japan		390,931		9,875
SCREEN Holdings Co Ltd (A)		19,200		1,937
Seiko Epson Corp (A)		277,200		4,165
Senshu Ikeda Holdings Inc		45,700		65
Seven & i Holdings Co Ltd		232,300		11,080
Shidax Corp *		8,300		26
Shimamura Co Ltd		67,900		6,058
Shindengen Electric Manufacturing Co Ltd (A)		9,000		229
Shinnihon Corp		3,900		23
Sinfonia Technology Co Ltd		4,200		46
SMK Corp		1,300		24
Sompo Holdings Inc		29,400		1,288
Sony Group Corp		92,300		9,532
Sony Group Corp ADR		178,698		18,354
Sprix Ltd		11,500		125
Step Co Ltd		1,900		27
Sumitomo Corp		55,100		955
Sumitomo Mitsui Financial Group Inc		1,205,400		38,358
Sumitomo Rubber Industries Ltd		265,900		2,443
Sun Corp		4,400		70
Sundrug Co Ltd		18,400		450
Suntory Beverage & Food Ltd		1,900		72
Sun-Wa Technos Corp		2,600		29
T&D Holdings Inc (A)		491,700		6,662
Taiho Kogyo Co Ltd, Cl A		9,900		57
Takeda Pharmaceutical Co Ltd (A)		664,000		19,068
TIS Inc		130,700		3,071
Toho Co Ltd/Kobe		2,700		25
Tokai Rika Co Ltd		5,300		65
Tokio Marine Holdings Inc		76,600		4,458
Tokyo Electron Ltd		39,200		20,203
Tokyo Keiki Inc		2,900		28
Tokyo Seimitsu Co Ltd		17,800		708
Tomy Co Ltd		134,900		1,351
Tonami Holdings Co Ltd		800		25
Toshiba Corp		230,500		8,634
Trusco Nakayama Corp		3,700		73
UNITED Inc/Japan		4,100		62
Universal Entertainment Corp *		396,253		8,887
Warabeya Nichiyo Holdings Co Ltd		21,700		317
Yamaha Motor Co Ltd		124,200		2,795
Yamaichi Electronics Co Ltd		3,700		57
Yamazaki Baking Co Ltd		9,500		117
Yonex Co Ltd		7,900		67
Yorozu Corp		2,700		20
Yuasa Trading Co Ltd		1,400		33
Z Holdings Corp		1,744,000		7,629
Zuken Inc		5,000		123
				624,291

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Jordan — 0.0%
Hikma Pharmaceuticals PLC		48,111	$	1,309
Malaysia — 0.0%
Genting Plantations Bhd		31,100		63
Heineken Malaysia Bhd		22,200		118
Taliworks Corp Bhd		151,400		34
				215
Malta — 0.0%
BGP Holdings *(B)		198,683		–
Mexico — 0.9%
Arca Continental SAB de CV		2,022,050		13,687
Fomento Economico Mexicano SAB de CV ADR		278,191		23,048
Grupo Bimbo SAB de CV, Ser A		105,877		319
Grupo Herdez SAB de CV		27,929		44
				37,098
Netherlands — 5.0%
Aalberts NV		3,572		187
ABN AMRO Bank NV (A)		156,148		2,005
Adyen NV *		2,799		5,576
Akzo Nobel NV		383,041		33,230
ArcelorMittal SA		36,526		1,178
ASM International NV		17,708		6,494
ASML Holding NV		15,811		10,652
ASML Holding NV, Cl G		16,129		10,773
ASR Nederland NV		32,675		1,531
BE Semiconductor Industries NV		32,052		2,751
Heineken Holding NV		14,763		1,166
ING Groep NV		1,480,459		15,589
Koninklijke Ahold Delhaize NV		891,784		28,789
Koninklijke DSM NV		54,839		9,878
Koninklijke Philips NV		200,711		6,160
NN Group NV		43,978		2,238
NXP Semiconductors NV		47,068		8,711
Randstad NV (A)		186,610		11,259
RELX PLC		279,077		8,739
Shell PLC		895,692		24,742
Universal Music Group NV		155,901		4,159
Wolters Kluwer NV		221,987		23,748
				219,555
New Zealand — 0.0%
Fletcher Building Ltd		99,572		437
Norway — 0.5%
Aker BP ASA		36,212		1,361
DNB Bank ASA		37,222		847
Equinor ASA		406,859		15,241
Kongsberg Gruppen ASA		4,689		188
Norsk Hydro ASA		277,484		2,719
				20,356
Poland — 0.0%
Enea SA		63,733		140

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

5

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

International Equity Fund (Continued)

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Grupa Lotos SA *		58,354	$	820
Powszechny Zaklad Ubezpieczen SA		23,453		189
Tim SA/Siechnice		5,020		42
				1,191
Portugal — 0.2%
EDP - Energias de Portugal SA		505,172		2,498
Jeronimo Martins SGPS SA		307,985		7,432
				9,930
Qatar — 0.0%
Mekdam Holding Group		22,573		51
Russia — 0.0%
Raspadskaya OJSC		850,011		–
Saudi Arabia — 0.8%
Arabian Cement Co/Saudi Arabia		65,011		742
Etihad Etisalat Co		210,990		2,331
Herfy Food Services Co *		55,420		833
Leejam Sports Co JSC		14,392		483
National Industrialization Co *		517,879		3,181
Rabigh Refining & Petrochemical Co *		284,059		2,137
Sahara International Petrochemical Co		300,411		4,291
Saudi Basic Industries Corp		587,741		20,514
Saudi Electricity Co		243,985		1,723
				36,235
Singapore — 0.2%
DBS Group Holdings Ltd		360,000		9,466
First Resources Ltd		28,200		43
Golden Agri-Resources Ltd		2,198,400		494
Jardine Cycle & Carriage Ltd		19,000		350
				10,353
South Africa — 0.1%
DataTec Ltd		100,188		278
Investec PLC		634,672		4,215
Omnia Holdings Ltd		16,045		83
				4,576
South Korea — 2.0%
BNK Financial Group Inc		691,155		4,518
Hana Financial Group Inc		90,133		3,609
JLS Co Ltd		3,880		24
Kangwon Land Inc *		1,170,763		26,689
KT Corp ADR *		56,049		804
LG Electronics Inc		53,902		5,302
Samsung Electronics Co Ltd		483,584		27,659
SK Hynix Inc		202,133		19,484
				88,089
Spain — 2.4%
Aena SME SA *		90,337		15,106
Amadeus IT Group SA, Cl A *		910,005		59,685
Banco Bilbao Vizcaya Argentaria SA		1,143,212		6,558
CaixaBank SA		4,473,007		15,223
Iberdrola SA		386,139		4,243

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Laboratorios Farmaceuticos Rovi SA		10,054	$	750
Repsol SA		150,475		1,979
				103,544
Sweden — 2.6%
Atlas Copco AB, Cl A		80,496		4,215
Bjorn Borg AB		5,112		26
Boliden AB		17,616		897
Byggmax Group AB		60,854		454
Cloetta AB, Cl B		72,874		200
Essity AB, Cl B (A)		768,120		18,286
Evolution AB		87,976		9,133
Getinge AB, Cl B		95,362		3,844
H & M Hennes & Mauritz AB, Cl B (A)		561,393		7,535
HMS Networks AB		5,920		281
Husqvarna AB, Cl B		607,941		6,389
International Petroleum Corp/Sweden *		25,975		249
Kinnevik AB, Cl B *		237,795		6,278
New Wave Group AB, Cl B		30,426		499
Nordea Bank Abp		284,263		2,960
Securitas AB, Cl B		1,390,490		15,840
Swedbank AB, Cl A (A)		792,301		11,892
Swedish Match AB		1,161,193		8,803
Telefonaktiebolaget LM Ericsson, Cl B (A)		1,630,634		14,995
Volvo AB, Cl B (A)		159,531		2,986
				115,762
Switzerland — 9.5%
ABB Ltd		172,556		5,614
Alcon Inc		221,392		17,609
Burckhardt Compression Holding AG		331		176
Chocoladefabriken Lindt & Spruengli AG		6		728
Cie Financiere Richemont SA, Cl A		32,303		4,093
Coca-Cola HBC AG		431,212		9,022
Credit Suisse Group AG		1,251,085		9,943
dormakaba Holding AG		3,105		1,596
Geberit AG		7,113		4,394
Kuehne + Nagel International AG		80,543		22,924
Leonteq AG		1,325		107
Lonza Group AG		33,334		24,232
Mobilezone Holding AG		12,582		223
Nestle SA		308,868		40,268
Novartis AG		293,947		25,866
Roche Holding AG		241,106		95,947
Sika AG		29,348		9,745
Sonova Holding AG		19,930		8,327
STMicroelectronics NV		219,300		9,567
Straumann Holding AG		13,472		21,598
Swatch Group AG/The		127,596		36,099
Swiss Life Holding AG		1,049		674
Swiss Prime Site AG		46,159		4,569
Tecan Group AG		10,605		4,203
UBS Group AG		2,217,562		43,488

6

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Zurich Insurance Group AG		35,860	$	17,734
				418,746
Taiwan — 1.0%
Asustek Computer Inc		880,000		11,450
Compal Electronics Inc		1,704,000		1,591
Evergreen Marine Corp Taiwan Ltd		1,513,000		7,083
Global Mixed Mode Technology Inc		91,000		750
Hon Hai Precision Industry Co Ltd		1,148,000		4,229
Lite-On Technology Corp		1,577,000		3,727
MediaTek Inc		267,987		8,427
Novatek Microelectronics Corp		20,000		295
Sitronix Technology Corp		173,000		1,743
Taiwan Semiconductor Manufacturing Co Ltd ADR		48,383		5,045
				44,340
Thailand — 0.0%
Bangkok Bank PCL		461,200		1,888
United Kingdom — 15.6%
3i Group PLC		981,413		17,898
888 Holdings PLC		110,837		267
AG Barr PLC		9,943		70
Anglo American PLC		682,358		35,907
Aon PLC, Cl A		30,828		10,039
Aptiv PLC *		72,391		8,666
Ashtead Group PLC		136,430		8,643
AstraZeneca PLC		216,249		28,673
Atlassian Corp PLC, Cl A *		69,700		20,480
B&M European Value Retail SA		1,281,824		8,992
Balfour Beatty PLC		977,009		3,274
Barclays PLC		16,720,502		32,559
BP PLC		12,630,740		61,791
BP PLC ADR		415,383		12,212
British American Tobacco PLC		314,161		13,217
Cairn Homes PLC		52,973		73
Compass Group PLC		1,181,828		25,496
Computacenter PLC		62,379		2,398
Croda International PLC		11,281		1,171
Diageo PLC		580,480		29,456
Entain PLC *		207,649		4,464
Ferguson PLC		149,229		20,195
Ferrexpo PLC		524,939		1,283
Firstgroup PLC *		220,944		324
Frasers Group PLC *		59,232		496
GlaxoSmithKline PLC		1,486,637		32,220
GlaxoSmithKline PLC ADR		138,378		6,028
Glencore PLC		5,772,020		37,799
Greggs PLC		62,079		1,994
Hays PLC		1,294,004		2,062
Howden Joinery Group PLC		258,447		2,594
IG Group Holdings PLC		186,542		2,002
Impax Asset Management Group PLC		11,386		147
Indivior PLC *		204,652		756

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Intertek Group PLC		151,930	$	10,406
Investec PLC		732,515		4,877
Kingfisher PLC		1,050,924		3,528
Land Securities Group PLC ‡		100,413		1,034
London Stock Exchange Group PLC		66,044		6,946
Man Group PLC/Jersey		834,115		2,561
Marks & Spencer Group PLC *		605,136		1,229
Next PLC		57,599		4,563
Ninety One PLC		375,849		1,260
Pagegroup PLC		97,734		626
Plus500 Ltd		130,443		2,432
Prudential PLC		3,129,171		46,389
QinetiQ Group PLC		6,757		27
Reckitt Benckiser Group PLC		273,270		21,062
RELX PLC		305,750		9,617
Rio Tinto PLC		116,411		9,269
Rolls-Royce Holdings PLC *		25,423,545		33,797
Royal Mail PLC		918,195		3,956
Sage Group PLC/The		242,043		2,228
Schroders PLC		46,684		1,972
Segro PLC ‡		123,614		2,191
Smith & Nephew PLC		1,489,500		23,727
Smurfit Kappa Group PLC		17,030		760
St James's Place PLC		49,094		932
STERIS PLC		33,045		7,989
Tesco PLC		662,768		2,404
Travis Perkins PLC		123,816		2,008
Unilever PLC		400,808		18,286
WH Smith PLC *		1,219,372		22,694
Wise PLC, Cl A *		68,900		449
				682,865
United States — 1.4%
Colliers International Group Inc		3,775		492
EPAM Systems Inc *		13,999		4,152
Lululemon Athletica Inc *		23,570		8,608
Mettler-Toledo International Inc *		5,963		8,188
Nomad Foods Ltd *		149,803		3,383
ResMed Inc		44,844		10,875
S&P Global Inc		24,773		10,161
Shopify Inc, Cl A *		7,501		5,071
TransGlobe Energy Corp *		13,369		49
ZIM Integrated Shipping Services Ltd		112,619		8,189
				59,168
Total Common Stock
(Cost $3,797,363) ($ Thousands)				4,157,034
PREFERRED STOCK — 0.5%
Brazil — 0.0%
Braskem SA*(C)		65,200		607

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

7

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

International Equity Fund (Concluded)

Description	Shares		Market Value ($ Thousands)
PREFERRED STOCK (continued)
Germany — 0.5%
Jungheinrich AG (C)		16,878	$	492
Porsche Automobil Holding SE, 2.530%		54,195		5,247
Schaeffler AG, 3.600%		228,253		1,422
Volkswagen AG, 2.590%		86,361		14,954
				22,115
Total Preferred Stock
(Cost $26,508) ($ Thousands)				22,722
EXCHANGE TRADED FUND — 0.1%
United States — 0.1%
iShares Trust iShares ESG Aware MSCI EAFE ETF		83,020		6,121
Total Exchange Traded Fund
(Cost $5,996) ($ Thousands)				6,121
AFFILIATED PARTNERSHIP — 4.7%
SEI Liquidity Fund, L.P.
0.300% **†(D)		204,977,549		205,018
Total Affiliated Partnership
(Cost $205,002) ($ Thousands)				205,018
CASH EQUIVALENT — 2.0%
SEI Daily Income Trust, Government Fund, Cl F
0.110%**†		87,848,235		87,848
Total Cash Equivalent
(Cost $87,848) ($ Thousands)				87,848
Total Investments in Securities — 102.0%
(Cost $4,122,717) ($ Thousands)			$	4,478,743

A list of the open futures contracts held by the Fund at March 31, 2022, is as follows:

Type of Contract	Number of Contracts		Expiration Date		Notional Amount (Thousands)		Value (Thousands)		Unrealized Appreciation (Thousands)
Long Contracts
Euro STOXX 50		911		Jun-2022	$	37,601	$	38,751	$	616
FTSE 100 Index		184		Jun-2022		17,611		18,136		402
Hang Seng Index		20		May-2022		2,777		2,808		32
SPI 200 Index		76		Jun-2022		10,223		10,671		282
TOPIX Index		160		Jun-2022		24,975		25,659		901
					$	93,187	$	96,025	$	2,233

8

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

	Percentages are based on Net Assets of $4,391,452 ($ Thousands).
*	Non-income producing security.
**	The rate reported is the 7-day effective yield as of March 31, 2022.
†	Investment in Affiliated Security (see Note 5).
‡	Real Estate Investment Trust.
(A)	Certain securities or partial positions of certain securities are on loan at March 31, 2022 (see Note 9). The total market value of securities on loan at March 31, 2022 was $194,135 ($ Thousands).
(B)	Level 3 security in accordance with fair value hierarchy.
(C)	No interest rate available.
(D)	This security was purchased with cash collateral held from securities on loan (see Note 9). The total market value of such securities as of March 31, 2022 was $205,018 ($ Thousands).

ADR — American Depositary Receipt

Cl — Class

EAFE — Europe, Australasia and Far East

ESG — Environmental, Social and Governance

ETF — Exchange-Traded Fund

FTSE— Financial Times Stock Exchange

JSC — Joint-Stock Company

L.P. — Limited Partnership

Ltd. — Limited

MSCI — Morgan Stanley Capital International

PLC — Public Limited Company

S&P— Standard & Poor's

Ser — Series

SPI — Share Price Index

TOPIX — Tokyo Price Index

The following is a list of the level of inputs used as of March 31, 2022, in valuing the Fund’s investments and other financial instruments carried at value ($ Thousands):

Investments in Securities	Level 1 ($)		Level 2 ($)		Level 3 ($)			Total ($)
Common Stock		4,157,034		–		–	^		4,157,034
Preferred Stock		22,722		–		–			22,722
Exchange Traded Fund		6,121		–		–			6,121
Affiliated Partnership		–		205,018		–			205,018
Cash Equivalent		87,848		–		–			87,848
Total Investments in Securities		4,273,725		205,018		–			4,478,743

Other Financial Instruments	Level 1 ($)		Level 2 ($)		Level 3 ($)		Total ($)
Futures Contracts*
Unrealized Appreciation		2,233		–		–		2,233
Total Other Financial Instruments		2,233		–		–		2,233

^One security with a market value of $0.

* Futures contracts are valued at the unrealized appreciation on the instrument.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the transactions with affiliates for the period ended March 31, 2022 ($ Thousands):

Security Description	Value 9/30/2021		Purchases at Cost		Proceeds from Sales			Realized Loss			Change in Unrealized Appreciation		Value 3/31/2022		Shares		Income		Capital Gains
SEI Liquidity Fund, L.P.	$	161,647	$	487,533	$	(444,163	)	$	(2	)	$	3	$	205,018		204,977,549	$	729	$	—
SEI Daily Income Trust, Government Fund, Cl F		48,039		198,467		(158,659	)		1			—		87,848		87,848,235		4		—
Totals	$	209,686	$	686,000	$	(602,822	)	$	(1	)	$	3	$	292,866			$	733	$	—

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

9

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

Emerging Market Equity Fund

^†Percentages based on total investments. Includes investments held as collateral for securities on loan (see Note 9). Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.

Description	Shares		Market Value ($ Thousands)
COMMON STOCK — 94.5%
Argentina — 0.1%
Ternium SA ADR		23,178	$	1,058
Austria — 0.2%
Erste Group Bank AG		71,803		2,628
Brazil — 5.6%
Ambev SA		824,700		2,693
Ambev SA ADR		143,877		465
Arcos Dorados Holdings Inc, Cl A		276,090		2,245
Arezzo Industria e Comercio SA		166,900		3,171
B3 SA - Brasil Bolsa Balcao		1,402,279		4,630
Banco Bradesco SA ADR		750,304		3,481
Banco do Brasil SA		923,804		6,726
Banco Santander Brasil SA		449,700		3,431
Banco Santander Brasil SA ADR (A)		83,340		642
BB Seguridade Participacoes SA		555,475		2,994
Cia Energetica de Minas Gerais ADR (A)		412,639		1,329
Cia Siderurgica Nacional SA		243,764		1,332
Cosan SA		1,339,200		6,668
CPFL Energia SA		487,000		3,307
CSN Mineracao SA		2,159,700		2,745
Cyrela Brazil Realty SA Empreendimentos e Participacoes		285,083		1,047
Gerdau SA ADR		258,812		1,664
Hapvida Participacoes e Investimentos SA		3,218,956		8,075
Hypera SA *		167,565		1,366
JBS SA		307,077		2,423
Klabin SA		468,070		2,391
MercadoLibre Inc *		5,490		6,530
Multiplan Empreendimentos Imobiliarios SA *		440,600		2,262
Pagseguro Digital Ltd, Cl A *		69,904		1,402
Petro Rio SA *		134,100		676

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Petroleo Brasileiro SA ADR *		340,071	$	5,033
Porto Seguro SA		76,365		340
SLC Agricola SA		140,727		1,481
Telefonica Brasil SA		102,725		1,164
TIM SA/Brazil *		932,500		2,696
TIM SA/Brazil ADR *		46,719		677
Vale SA ADR, Cl B		290,498		5,807
Vibra Energia SA		1,375,369		6,744
WEG SA		93,153		684
				98,321
Canada — 1.3%
Endeavour Mining PLC		57,098		1,418
First Quantum Minerals Ltd		332,906		11,535
Ivanhoe Mines Ltd, Cl A *		550,327		5,137
Parex Resources Inc		252,050		5,176
				23,266
Chile — 1.2%
Banco Santander Chile ADR		65,723		1,485
CAP SA		23,156		359
Cencosud SA		150,089		295
Empresas CMPC SA		1,348,205		2,496
Empresas COPEC SA		295,170		2,438
Sociedad Quimica y Minera de Chile SA ADR		159,143		13,623
				20,696
China — 19.7%
360 DigiTech Inc ADR		28,193		434
37 Interactive Entertainment Network Technology Group Co Ltd, Cl A		758,200		2,785
Agricultural Bank of China Ltd, Cl H		14,579,000		5,581
Alibaba Group Holding Ltd *		1,254,688		17,014
Alibaba Group Holding Ltd ADR *		110,612		12,035
Aluminum Corp of China Ltd, Cl H		2,178,000		1,258
Anhui Conch Cement Co Ltd, Cl H		1,206,500		6,171
Autohome Inc ADR		59,572		1,812
Baidu Inc ADR *		24,979		3,305
Bank of China Ltd, Cl H		15,560,106		6,236
Bank of Communications Co Ltd, Cl H		5,045,000		3,612
Bank of Nanjing Co Ltd, Cl A		602,834		1,012
BeiGene Ltd ADR *		2,230		421
Bilibili Inc ADR *		9,036		231
Bosideng International Holdings Ltd (A)		1,521,597		709
BYD Co Ltd, Cl H		44,145		1,232
China CITIC Bank Corp Ltd, Cl H		2,543,000		1,285
China Coal Energy Co Ltd, Cl H		1,445,000		1,083
China Communications Services Corp Ltd, Cl H		1,578,075		713
China Construction Bank Corp, Cl H		15,687,050		11,734
China Jushi Co Ltd, Cl A		681,077		1,629
China Lesso Group Holdings Ltd		2,256,000		2,718
China Longyuan Power Group Corp Ltd, Cl H		1,532,238		3,447
China Merchants Bank Co Ltd, Cl H		1,040,062		8,096

10

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
China National Building Material Co Ltd, Cl H		1,084,733	$	1,338
China Pacific Insurance Group Co Ltd, Cl H		422,400		1,020
China Petroleum & Chemical Corp ADR		33,238		1,646
China Petroleum & Chemical Corp, Cl A		2,847,766		1,932
China Petroleum & Chemical Corp, Cl H		5,268,000		2,630
China Resources Sanjiu Medical & Pharmaceutical Co Ltd, Cl A		203,500		1,451
China Shenhua Energy Co Ltd, Cl H		673,500		2,150
Chongqing Zhifei Biological Products Co Ltd, Cl A		30,200		655
Contemporary Amperex Technology Co Ltd, Cl A		8,084		647
Daqo New Energy Corp ADR *		13,276		549
Dongfeng Motor Group Co Ltd, Cl H		3,405,194		2,545
FAW Jiefang Group Co Ltd, Cl A		343,027		466
Fujian Sunner Development Co Ltd, Cl A *		1,421,800		4,431
Gigadevice Semiconductor Beijing Inc, Cl A		103,132		2,276
Great Wall Motor Co Ltd, Cl H		585,500		920
Guangzhou Tinci Materials Technology Co Ltd, Cl A		32,000		470
Haier Smart Home Co Ltd, Cl A		1,116,561		4,043
Haier Smart Home Co Ltd, Cl H (A)		1,772,756		5,691
Hangzhou Robam Appliances Co Ltd, Cl A		230,266		1,055
Hengli Petrochemical Co Ltd, Cl A		774,400		2,520
Huayu Automotive Systems Co Ltd, Cl A		206,779		647
Hunan Valin Steel Co Ltd, Cl A		977,620		843
Industrial & Commercial Bank of China Ltd, Cl H (A)		19,326,140		11,828
Inspur Electronic Information Industry Co Ltd, Cl A		139,915		595
JD.com Inc ADR *		58,816		3,404
Jiangsu Changshu Rural Commercial Bank Co Ltd, Cl A		3,800,274		4,618
JOYY Inc ADR		14,470		531
Kingsoft Corp Ltd		821,649		2,623
Kweichow Moutai Co Ltd, Cl A		18,700		5,036
Li Auto Inc ADR *		45,375		1,171
Longfor Group Holdings Ltd		910,888		4,654
LONGi Green Energy Technology Co Ltd, Cl A *		128,700		1,450
Lufax Holding Ltd ADR		607,972		3,386
Luxshare Precision Industry Co Ltd, Cl A		1,181,377		5,856
Muyuan Foods Co Ltd, Cl A		173,500		1,547
NetEase Inc ADR		52,964		4,750
Ningbo Ronbay New Energy Technology Co Ltd, Cl A		237,519		4,786
Ningbo Tuopu Group Co Ltd, Cl A		210,500		1,876
NIO Inc ADR *		76,080		1,601
Orient Securities Co Ltd/China, Cl A *		284,800		489
PetroChina Co Ltd, Cl H		3,856,000		1,977
PICC Property & Casualty Co Ltd, Cl H		7,498,000		7,625
Pinduoduo Inc ADR *		16,055		644

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Ping An Insurance Group Co of China Ltd, Cl A		738,000	$	5,608
Ping An Insurance Group Co of China Ltd, Cl H (A)		2,463,982		17,327
Poly Developments and Holdings Group Co Ltd, Cl A		380,480		1,061
QuakeSafe Technologies Co Ltd, Cl A		195,400		1,854
Seazen Holdings Co Ltd, Cl A *		115,800		586
Shaanxi Coal Industry Co Ltd, Cl A		536,581		1,389
Shanghai International Port Group Co Ltd, Cl A		1,120,480		961
Shenzhen Overseas Chinese Town Co Ltd, Cl A		2,320,100		2,687
Shenzhen SC New Energy Technology Corp, Cl A		181,900		2,092
Shenzhen Senior Technology Material Co Ltd, Cl A		362,400		2,143
Shenzhen Topband Co Ltd, Cl A		1,218,300		2,081
Sichuan Kelun Pharmaceutical Co Ltd, Cl A		747,398		2,039
Sinopec Engineering Group Co Ltd, Cl H		844,323		431
Sinopharm Group Co Ltd, Cl H		508,535		1,156
Sinotrans Ltd, Cl H		2,322,309		723
Tencent Holdings Ltd		1,115,290		52,053
Tingyi Cayman Islands Holding Corp		450,754		758
Trip.com Group Ltd ADR *		80,666		1,865
Tsingtao Brewery Co Ltd, Cl H		307,000		2,423
Uni-President China Holdings Ltd		884,000		769
Vipshop Holdings Ltd ADR *		330,957		2,979
Want Want China Holdings Ltd (A)		1,041,643		962
Weichai Power Co Ltd, Cl H		3,231,000		5,068
Wens Foodstuffs Group Co Ltd *		912,500		3,161
Wingtech Technology Co Ltd, Cl A		470,400		6,005
Xianhe Co Ltd, Cl A		551,279		2,248
XPeng Inc ADR, Cl A *		33,501		924
Xtep International Holdings Ltd (A)		1,528,500		2,296
Yantai Jereh Oilfield Services Group Co Ltd, Cl A		304,497		2,023
Yifeng Pharmacy Chain Co Ltd, Cl A		452,600		2,845
Yuan Longping High-tech Agriculture Co Ltd, Cl A *		961,500		2,926
Yum China Holdings Inc		22,528		936
Zhejiang Expressway Co Ltd, Cl H (A)		1,476,000		1,238
Zhejiang HangKe Technology Inc Co, Cl A		221,527		1,980
Zhejiang Juhua Co Ltd, Cl A		1,286,713		2,632
Zhongsheng Group Holdings Ltd		574,000		4,031
				347,185
Czech Republic — 0.1%
CEZ AS		50,404		2,129
Greece — 0.7%
Alpha Services and Holdings SA *		4,160,578		5,104
Eurobank Ergasias Services and Holdings SA *		4,319,582		5,062

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

11

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

Emerging Market Equity Fund (Continued)

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Hellenic Telecommunications Organization SA		46,742	$	851
OPAP SA		48,110		704
				11,721
Hong Kong — 8.6%
A-Living Smart City Services Co Ltd, Cl H (A)		940,000		1,306
ASM Pacific Technology Ltd		232,000		2,337
Baidu Inc, Cl A *		28,500		496
Beijing Enterprises Holdings Ltd		1,046,500		3,307
Budweiser Brewing Co APAC Ltd		1,050,500		2,778
Chaoda Modern Agriculture Holdings Ltd *		2,056,181		13
China Conch Environment Protection Holdings Ltd *		581,000		727
China Conch Venture Holdings Ltd		397,500		1,159
China Everbright Bank Co Ltd, Cl H		5,752,000		2,172
China Feihe Ltd		2,074,000		2,049
China High Precision Automation Group Ltd *(B)		1,385,624		–
China Hongqiao Group Ltd		841,000		1,116
China International Marine Containers Group Co Ltd, Cl H		344,768		562
China Medical System Holdings Ltd		3,509,870		5,497
China Meidong Auto Holdings Ltd		530,000		2,013
China Mengniu Dairy Co Ltd		146,090		783
China Merchants Port Holdings Co Ltd		1,511,607		2,725
China Overseas Land & Investment Ltd		806,000		2,397
China Resources Land Ltd		4,116,000		19,057
China Resources Power Holdings Co Ltd		432,000		806
China Southern Airlines Co Ltd, Cl H *(A)		4,494,000		2,602
China Yongda Automobiles Services Holdings Ltd		512,000		558
COFCO Joycome Foods Ltd		2,416,000		1,072
Country Garden Services Holdings Co Ltd		424,513		1,799
CSPC Pharmaceutical Group Ltd		1,382,247		1,589
Galaxy Entertainment Group Ltd *		534,000		3,160
Geely Automobile Holdings Ltd		439,000		681
Guangzhou Automobile Group Co Ltd, Cl H		3,426,000		2,825
Hong Kong Exchanges & Clearing Ltd		58,800		2,760
JD.com Inc, Cl A *		417,461		12,040
Kingboard Holdings Ltd		247,794		1,200
Kingboard Laminates Holdings Ltd (A)		2,083,692		3,407
Kunlun Energy Co Ltd		7,144,020		6,200
Lenovo Group Ltd (A)		4,540,659		4,907
Li Auto Inc, Cl A *		41,200		535
Li Ning Co Ltd		448,487		3,832
Meituan, Cl B *		597,100		11,509
NetEase Inc		361,430		6,430
New China Life Insurance Co Ltd, Cl H		325,700		905
Nine Dragons Paper Holdings Ltd		24,000		21
People's Insurance Co Group of China Ltd/The, Cl H		3,080,407		1,006
Postal Savings Bank of China Co Ltd, Cl H		5,222,000		4,210

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Shandong Weigao Group Medical Polymer Co Ltd, Cl H		1,582,676	$	1,686
Shenzhen International Holdings Ltd		15,751		17
Sunny Optical Technology Group Co Ltd		54,700		872
Topsports International Holdings Ltd		794,216		661
Vinda International Holdings Ltd (A)		612,000		1,383
WH Group Ltd		6,626,750		4,163
Wuxi Biologics Cayman Inc *		117,307		960
Xiaomi Corp, Cl B *(A)		489,405		849
Xinyi Solar Holdings Ltd (A)		4,128,458		7,248
XPeng Inc, Cl A *		90,534		1,258
Yadea Group Holdings Ltd (A)		3,464,000		5,317
Yuexiu Property Co Ltd		1,006,027		996
Zoomlion Heavy Industry Science and Technology Co Ltd (A)		3,788,600		2,394
				152,352
Hungary — 0.8%
MOL Hungarian Oil & Gas PLC		309,933		2,737
OTP Bank Nyrt *		134,891		4,953
Richter Gedeon Nyrt		289,334		6,149
				13,839
India — 11.6%
Apollo Hospitals Enterprise Ltd		59,350		3,533
Aptus Value Housing Finance India Ltd *		602,181		2,697
AU Small Finance Bank Ltd *		106,597		1,749
Axis Bank Ltd *		123,597		1,235
Bajaj Finance Ltd		6,660		635
Bharat Electronics Ltd		382,104		1,059
Bharat Petroleum Corp Ltd		119,040		564
Bharti Airtel Ltd *		358,170		3,558
Cartrade Tech Ltd *		87,750		669
Cholamandalam Investment and Finance Co Ltd		106,017		1,001
Cipla Ltd/India		115,846		1,555
Coal India Ltd		467,067		1,129
Container Corp Of India Ltd		145,430		1,287
Coromandel International Ltd		44,652		470
DLF Ltd		163,138		815
EPL Ltd		820,573		2,102
GAIL India Ltd		1,901,579		3,901
GMM Pfaudler Ltd		24,158		1,448
Godrej Properties Ltd *		75,440		1,657
Grasim Industries Ltd		53,990		1,182
HCL Technologies Ltd		577,054		8,816
HDFC Bank Ltd		242,712		4,687
Hero MotoCorp Ltd		100,076		3,022
Hindalco Industries Ltd		226,263		1,691
Hindustan Petroleum Corp Ltd		145,598		516
Hindustan Unilever Ltd		17,862		482
Housing Development Finance Corp Ltd		343,411		10,783
ICICI Bank Ltd		1,101,295		10,577

12

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
ICICI Bank Ltd ADR		527,689	$	9,994
Indian Hotels Co Ltd, Cl A		622,075		1,947
Indian Oil Corp Ltd		930,878		1,457
Indus Towers Ltd *		291,899		853
IndusInd Bank Ltd		354,069		4,354
Infosys Ltd		291,875		7,323
Infosys Ltd ADR		554,217		13,794
InterGlobe Aviation Ltd *		128,770		3,414
IRB Infrastructure Developers Ltd *		828,337		2,739
ITC Ltd		358,500		1,184
JB Chemicals & Pharmaceuticals Ltd		69,807		1,452
Jindal Steel & Power Ltd		78,563		549
JM Financial Ltd		367,047		327
Kotak Mahindra Bank Ltd		27,976		644
Larsen & Toubro Ltd		38,474		895
Mahindra & Mahindra Ltd		93,395		991
Marico Ltd		92,161		612
Maruti Suzuki India Ltd		61,247		6,088
Nestle India Ltd		1,708		391
NMDC Ltd		1,286,734		2,756
NTPC Ltd		857,533		1,523
Oil & Natural Gas Corp Ltd		2,099,730		4,532
Petronet LNG Ltd		978,478		2,498
Power Grid Corp of India Ltd		410,606		1,175
PVR Ltd *		24,472		617
Redington India Ltd		401,433		766
Reliance Industries Ltd		655,036		22,705
SBI Cards & Payment Services Ltd		276,413		3,097
Sona Blw Precision Forgings Ltd		210,132		1,876
State Bank of India		1,084,447		7,024
Sun Pharmaceutical Industries Ltd		120,141		1,448
Tata Consultancy Services Ltd		172,650		8,496
Torrent Power Ltd		227,506		1,474
UltraTech Cement Ltd		37,727		3,281
United Breweries Ltd		101,473		1,991
UPL Ltd		455,664		4,618
Vedanta Ltd		225,314		1,195
WNS Holdings Ltd ADR *		17,029		1,456
				204,356
Indonesia — 2.2%
Adaro Energy Indonesia Tbk PT		6,137,327		1,150
Astra International Tbk PT		12,057,000		5,459
Bank Central Asia Tbk PT		6,727,140		3,740
Bank Mandiri Persero Tbk PT		3,922,413		2,178
Bank Negara Indonesia Persero Tbk PT		5,410,200		3,097
Bank Rakyat Indonesia Persero Tbk PT		39,744,315		12,850
Bukalapak.com PT Tbk *		29,961,700		794
Kalbe Farma Tbk PT		7,012,620		786
Merdeka Copper Gold Tbk PT *		7,417,600		2,335
Telkom Indonesia Persero Tbk PT		19,000,900		6,041
				38,430

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Kuwait — 0.0%
Agility Public Warehousing Co KSC		138,732	$	504
Malaysia — 0.4%
CIMB Group Holdings Bhd		870,188		1,101
Frontken Corp Bhd		849,308		605
Hong Leong Bank Bhd		208,227		998
IHH Healthcare Bhd		272,797		401
Petronas Chemicals Group Bhd		832,451		1,900
Public Bank Bhd		1,385,800		1,537
Sime Darby Bhd		1,053,204		601
				7,143
Mexico — 1.9%
Alfa SAB de CV, Cl A		1,302,151		987
America Movil SAB de CV ADR, Cl L		94,646		2,002
Cemex SAB de CV ADR *		566,437		2,997
Fomento Economico Mexicano SAB de CV		255,659		2,117
Fomento Economico Mexicano SAB de CV ADR		41,344		3,425
Grupo Aeroportuario del Pacifico SAB de CV ADR *		5,611		905
Grupo Bimbo SAB de CV, Ser A		207,757		625
Grupo Financiero Banorte SAB de CV, Cl O		1,734,625		13,032
Grupo Mexico SAB de CV, Ser B		834,059		4,967
Wal-Mart de Mexico SAB de CV		807,993		3,302
				34,359
Peru — 0.1%
Credicorp Ltd		14,124		2,427
Philippines — 0.3%
BDO Unibank Inc		1,348,112		3,443
International Container Terminal Services Inc		155,438		676
Monde Nissin Corp *		4,354,800		1,154
				5,273
Poland — 0.5%
Allegro.eu SA *(A)		212,098		1,792
Bank Polska Kasa Opieki SA		21,149		569
Cyfrowy Polsat SA		143,244		955
Dino Polska SA *		48,569		3,955
LPP SA		387		1,062
Powszechny Zaklad Ubezpieczen SA		96,410		778
				9,111
Portugal — 0.1%
Jeronimo Martins SGPS SA		84,505		2,039
Qatar — 0.1%
Qatar Islamic Bank SAQ		178,179		1,168
Qatar National Bank QPSC		128,814		816
				1,984
Russia — 0.0%
Alrosa PJSC		623,438		–
Gazprom PJSC ADR		174,661		–

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

13

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

Emerging Market Equity Fund (Continued)

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
LUKOIL PJSC ADR		109,206	$	–
Magnit PJSC GDR *		70,490		–
Magnit PJSC GDR		13,117		–
Mobile TeleSystems PJSC ADR		699,014		–
Novatek PJSC		102,482		–
Polyus PJSC		9,893		–
Rosneft Oil Co PJSC		230,389		–
Sberbank of Russia PJSC ADR		162,791		–
Surgutneftegas PJSC ADR (A)		501,658		–
				–
				–
				–
Saudi Arabia — 2.6%
Al Hammadi Co for Development and Investment		22,642		274
Al Rajhi Bank		117,381		5,015
Alinma Bank		190,843		1,973
Etihad Etisalat Co		114,267		1,263
Jarir Marketing Co		16,080		844
Leejam Sports Co JSC		57,977		1,945
Riyad Bank		355,343		3,553
SABIC Agri-Nutrients Co		26,659		1,294
Sahara International Petrochemical Co		137,842		1,969
Saudi Arabian Mining Co *		92,997		3,313
Saudi Arabian Oil Co		309,388		3,554
Saudi Basic Industries Corp		26,927		940
Saudi Electricity Co		93,738		662
Saudi Industrial Investment Group		73,635		687
Saudi National Bank/The		541,807		10,229
Saudi Tadawul Group Holding Co		41,026		2,089
Saudi Telecom Co		205,473		5,895
United International Transportation Co		44,744		617
				46,116
Singapore — 0.1%
TDCX Inc ADR *		117,019		1,422
Yangzijiang Shipbuilding Holdings Ltd		973,183		1,097
				2,519
South Africa — 4.6%
Absa Group Ltd		204,064		2,645
African Rainbow Minerals Ltd		42,322		831
Anglo American Platinum Ltd		8,014		1,103
Bid Corp Ltd		179,498		3,907
Bidvest Group Ltd/The		119,163		1,819
Capitec Bank Holdings Ltd		24,630		3,934
Cie Financiere Richemont SA		160,353		2,066
FirstRand Ltd		547,171		2,889
Gold Fields Ltd		135,000		2,098
Gold Fields Ltd ADR		701,715		10,849
Growthpoint Properties Ltd ‡		1,797,539		1,810
Impala Platinum Holdings Ltd		75,192		1,159
Kumba Iron Ore Ltd		35,925		1,599
Mr Price Group Ltd		153,997		2,284
MTN Group Ltd		353,414		4,581

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Naspers Ltd, Cl N		110,247	$	12,506
Nedbank Group Ltd		492,275		7,825
Old Mutual Ltd		2,687,085		2,523
Sasol Ltd *		100,810		2,436
Shoprite Holdings Ltd		290,225		4,685
Sibanye Stillwater Ltd (A)		730,093		2,969
Standard Bank Group Ltd		167,927		2,087
Vodacom Group Ltd		227,949		2,498
				81,103
South Korea — 12.4%
BGF retail Co Ltd		4,448		638
BNK Financial Group Inc		119,183		779
Celltrion Inc		2,827		399
Cheil Worldwide Inc		167,647		3,245
CJ CheilJedang Corp		24,028		7,289
CJ ENM Co Ltd		41,367		4,458
Coway Co Ltd		74,868		4,216
DB HiTek Co Ltd		25,545		1,569
DB Insurance Co Ltd		18,338		1,055
DGB Financial Group Inc		44,254		340
Doosan Fuel Cell Co Ltd *		34,203		1,146
E-MART Inc		6,871		794
GS Engineering & Construction Corp		23,818		906
GS Holdings Corp		71,136		2,570
Hana Financial Group Inc		429,674		17,206
Hankook Tire & Technology Co Ltd		87,932		2,428
Hyundai Glovis Co Ltd		6,835		1,080
Hyundai Marine & Fire Insurance Co Ltd		48,086		1,270
Hyundai Mobis Co Ltd		24,874		4,377
Kakao Corp		43,440		3,776
KB Financial Group Inc		57,642		2,893
KH Vatec Co Ltd		107,386		1,866
Kia Corp		106,151		6,426
Korea Petrochemical Ind Co Ltd		12,072		1,654
Kumho Petrochemical Co Ltd		14,918		1,899
LG Chem Ltd		11,649		5,075
LG Electronics Inc		56,291		5,537
LG Innotek Co Ltd		3,152		997
LG Uplus Corp		80,472		925
Lotte Chemical Corp		16,351		2,811
NAVER Corp		6,767		1,889
NCSoft Corp		12,340		4,720
NICE Information Service Co Ltd		38,248		620
Orion Corp/Republic of Korea		28,645		2,090
Pan Ocean Co Ltd		386,286		2,213
POSCO Holdings Inc ADR		10,979		651
Samsung Biologics Co Ltd *		3,747		2,550
Samsung Electro-Mechanics Co Ltd		9,343		1,264
Samsung Electronics Co Ltd		1,192,987		68,233
Samsung Engineering Co Ltd *		86,266		1,849
Samsung SDS Co Ltd		3,540		402
SD Biosensor Inc		11,748		542

14

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Shinsegae Inc		4,133	$	867
SK Hynix Inc		226,312		21,815
SK Square Co Ltd *		94,625		4,390
SK Telecom Co Ltd		227,984		10,662
Soulbrain Co Ltd/New		8,815		1,770
Woori Financial Group Inc		114,246		1,439
Youngone Corp		13,595		532
				218,122
Taiwan — 13.7%
Accton Technology Corp		232,200		1,791
Acer Inc		1,975,000		2,058
Asia Vital Components Co Ltd		305,000		1,231
ASPEED Technology Inc		5,445		617
Bizlink Holding Inc		165,000		1,700
Cathay Financial Holding Co Ltd		627,503		1,407
Chailease Holding Co Ltd		457,445		4,020
China Development Financial Holding Corp		1,489,000		992
China Steel Corp		656,000		890
ChipMOS Technologies Inc		293,000		522
Chunghwa Telecom Co Ltd		1,111,000		4,915
CTBC Financial Holding Co Ltd		12,475,000		12,723
Delta Electronics Inc		589,000		5,498
E.Sun Financial Holding Co Ltd		2,589,395		2,977
Elite Material Co Ltd		44,000		393
Evergreen Marine Corp Taiwan Ltd		154,000		721
Far EasTone Telecommunications Co Ltd		153,000		392
Formosa Plastics Corp		330,000		1,219
Fubon Financial Holding Co Ltd		2,212,534		5,883
Hon Hai Precision Industry Co Ltd		342,149		1,261
International Games System Co Ltd		16,000		427
Keystone Microtech Corp		155,000		1,517
Largan Precision Co Ltd		11,000		722
Lite-On Technology Corp		387,341		915
Macronix International Co Ltd		2,903,000		4,041
MediaTek Inc		453,628		14,265
Merida Industry Co Ltd		87,000		764
Micro-Star International Co Ltd		1,231,172		5,540
momo.com Inc		45,000		1,466
Nan Ya Plastics Corp		640,000		2,073
Nan Ya Printed Circuit Board Corp		46,122		838
Nanya Technology Corp		386,000		927
Nien Made Enterprise Co Ltd		132,000		1,540
Novatek Microelectronics Corp		82,000		1,210
Pegatron Corp		353,000		890
Pou Chen Corp		1,024,000		1,123
Radiant Opto-Electronics Corp		118,000		424
Realtek Semiconductor Corp		36,482		544
RichWave Technology Corp		325,400		2,141
Silergy Corp		9,790		1,162
SinoPac Financial Holdings Co Ltd		2,159,729		1,381
Taiwan Paiho Ltd		628,000		1,571

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Taiwan Semiconductor Manufacturing Co Ltd		4,994,278	$	102,904
Taiwan Semiconductor Manufacturing Co Ltd ADR		143,703		14,983
Tong Hsing Electronic Industries Ltd		387,313		3,882
Unimicron Technology Corp		413,000		3,557
Uni-President Enterprises Corp		2,187,000		4,986
United Microelectronics Corp		2,373,102		4,407
Vanguard International Semiconductor Corp		203,000		875
Winbond Electronics Corp		959,000		1,038
Wiwynn Corp		160,000		5,667
Yuanta Financial Holding Co Ltd		2,639,626		2,426
				241,416
Thailand — 2.6%
Advanced Info Service PCL NVDR		210,000		1,468
Bangkok Dusit Medical Services PCL NVDR		2,049,516		1,538
Central Pattana PCL		1,234,800		2,185
Chularat Hospital PCL NVDR		4,454,467		517
CP ALL PCL		756,300		1,477
Home Product Center PCL		11,889,054		5,661
Indorama Ventures PCL NVDR (A)		951,700		1,330
Kasikornbank PCL		713,400		3,449
Kasikornbank PCL NVDR		1,122,200		5,425
Kiatnakin Phatra Bank PCL NVDR		506,200		1,048
Land & Houses PCL		8,543,700		2,435
Ngern Tid Lor PCL		2,253,400		2,602
PTT Exploration & Production PCL		789,600		3,414
PTT Exploration & Production PCL NVDR		345,000		1,492
PTT PCL NVDR		6,313,200		7,294
Regional Container Lines PCL NVDR (A)		358,210		469
Siam Cement PCL/The		101,400		1,167
Supalai PCL NVDR (A)		406,715		265
Thai Union Group PCL, Cl F		3,312,000		1,881
Thanachart Capital PCL NVDR		442,847		573
				45,690
Turkey — 0.3%
BIM Birlesik Magazalar AS		323,161		1,863
Ford Otomotiv Sanayi AS		34,899		711
Haci Omer Sabanci Holding AS		629,042		751
KOC Holding AS		385,604		1,040
Turk Hava Yollari AO *		573,876		1,259
				5,624
United Arab Emirates — 1.3%
Abu Dhabi Commercial Bank PJSC		644,794		1,841
Aldar Properties PJSC		1,012,512		1,358
Dubai Islamic Bank PJSC		1,495,312		2,508
Emaar Properties PJSC		5,724,787		9,321
Emirates NBD Bank PJSC		386,520		1,573
Emirates Telecommunications Group Co PJSC		98,516		992

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

15

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

Emerging Market Equity Fund (Continued)

Description	Shares		Market Value ($ Thousands)
COMMON STOCK (continued)
Fertiglobe PLC		2,137,022	$	2,913
First Abu Dhabi Bank PJSC		371,670		2,387
				22,893
United Kingdom — 1.0%
Anglo American PLC		192,133		10,105
Antofagasta PLC		81,451		1,780
Endeavour Mining PLC		35,916		897
Fix Price Group Ltd GDR		48,690		–
Network International Holdings PLC *		594,224		2,179
TCS Group Holding PLC GDR		34,151		–
Tullow Oil PLC *		2,700,073		1,878
				16,839
United States — 0.1%
XP Inc, Cl A *		48,645		1,464
Vietnam — 0.3%
Hoa Phat Group JSC		910,721		1,796
Vincom Retail JSC *		2,942,545		4,298
				6,094
Total Common Stock
(Cost $1,435,882) ($ Thousands)				1,666,701
PREFERRED STOCK — 1.9%
Brazil — 0.7%
Banco Bradesco SA (C)		934,870		4,363
Bradespar SA (C)		57,063		399
Centrais Eletricas Brasileiras SA (C)		95,384		756
Cia Energetica de Minas Gerais (C)		403,800		1,288
Itau Unibanco Holding SA , 4.160%*		275,396		1,591
Itausa SA , 3.240%		332,878		755
Petroleo Brasileiro SA ADR, Cl A(C)		242,699		3,393
				12,545
Chile — 0.3%
Sociedad Quimica y Minera de Chile SA, Cl B(C)		51,947		4,490
South Korea — 0.9%
Hyundai Motor Co (C)		58,398		4,137
LG Chem Ltd (C)		11,840		2,658
LG Electronics *(C)		29,217		1,403
Samsung Electronics Co Ltd(C)		164,339		8,501
				16,699
Total Preferred Stock
(Cost $31,147) ($ Thousands)				33,734

Description		Number of Rights	Market Value ($ Thousands)
RIGHTS — 0.0%
South Korea — 0.0%
Hyundai Engineering & Construction Co Ltd *‡‡		256	$	–
Samsung Biologics Co Ltd, Expires 04/15/2022 *		248		39
Total Rights
(Cost $—) ($ Thousands)				39
	Face Amount (Thousands)
DEBENTURE BOND — 0.0%
Brazil — 0.0%
Vale SA, Ser 1997
0.000% (D)(E)	BRL	8		1
Total Debenture Bond
(Cost $—) ($ Thousands)				1
	Shares
AFFILIATED PARTNERSHIP — 2.3%
SEI Liquidity Fund, L.P.
0.300% **†(F)		39,483,601		39,493
Total Affiliated Partnership
(Cost $39,487) ($ Thousands)				39,493
CASH EQUIVALENT — 2.3%
SEI Daily Income Trust, Government Fund, Cl F
0.110%**†		40,185,442		40,185
Total Cash Equivalent
(Cost $40,185) ($ Thousands)				40,185
Total Investments in Securities — 101.0%
(Cost $1,546,701) ($ Thousands)			$	1,780,153

16

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

A list of the open futures contracts held by the Fund at March 31, 2022, is as follows:

Type of Contract	Number of Contracts		Expiration Date		Notional Amount (Thousands)		Value (Thousands)		Unrealized Appreciation (Thousands)
Long Contracts
MSCI Emerging Markets		756		Jun-2022	$	42,150	$	42,544	$	394

	Percentages are based on Net Assets of $1,763,146 ($ Thousands).
*	Non-income producing security.
**	The rate reported is the 7-day effective yield as of March 31, 2022.
†	Investment in Affiliated Security (see Note 5).
‡	Real Estate Investment Trust.
‡‡	Expiration date not available.
(A)	Certain securities or partial positions of certain securities are on loan at March 31, 2022 (see Note 9). The total market value of securities on loan at March 31, 2022 was $32,812 ($ Thousands).
(B)	Level 3 security in accordance with fair value hierarchy.
(C)	No interest rate available.
(D)	Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.
(E)	Perpetual security with no stated maturity date.
(F)	This security was purchased with cash collateral held from securities on loan (see Note 9). The total market value of such securities as of March 31, 2022 was $39,493 ($ Thousands).

ADR — American Depositary Receipt

BRL — Brazilian Real

Cl — Class

GDR — Global Depositary Receipt

JSC — Joint-Stock Company

L.P. — Limited Partnership

Ltd. — Limited

MSCI — Morgan Stanley Capital International

NVDR — Non-Voting Depositary Receipt

PJSC — Public Joint-Stock Company

PLC — Public Limited Company

Ser — Series

The following is a list of the level of inputs used as of March 31, 2022, in valuing the Fund’s investments and other financial instruments carried at value ($ Thousands):

Investments in Securities	Level 1 ($)		Level 2 ($)		Level 3 ($)			Total ($)
Common Stock		1,659,631		7,070		–	^		1,666,701
Preferred Stock		33,734		–		–			33,734
Rights		39		–		–			39
Debenture Bond		–		1		–			1
Affiliated Partnership		–		39,493		–			39,493
Cash Equivalent		40,185		–		–			40,185
Total Investments in Securities		1,733,589		46,564		–			1,780,153

Other Financial Instruments	Level 1 ($)		Level 2 ($)		Level 3 ($)		Total ($)
Futures Contracts*
Unrealized Appreciation		394		–		–		394
Total Other Financial Instruments		394		–		–		394

^One security with market value of $0.

* Futures contracts are valued at the unrealized appreciation on the instrument.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

17

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

Emerging Market Equity Fund (Concluded)

The following is a summary of the transactions with affiliates for the period ended March 31, 2022 ($ Thousands):

Security Description	Value 9/30/2021		Purchases at Cost		Proceeds from Sales			Realized Gain/(Loss)			Change in Unrealized Depreciation		Value 3/31/2022		Shares		Income		Capital Gains
SEI Liquidity Fund, L.P.	$	17,858	$	98,782	$	(77,148	)	$	(2	)	$	3	$	39,493		39,483,601	$	122	$	—
SEI Daily Income Trust, Government Fund, Cl F		60,832		115,119		(135,766	)		—			—		40,185		40,185,442		2		—
Totals	$	78,690	$	213,901	$	(212,914	)	$	(2	)	$	3	$	79,678			$	124	$	—

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

18

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

International Fixed Income Fund

^†Percentages based on total investments. Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS — 92.4%
Australia — 2.5%
Australia & New Zealand Banking Group MTN
5.000%, 08/16/2023	AUD	750	$	586
Australia Government Bond
4.750%, 04/21/2027		1,040		859
4.500%, 04/21/2033		801		694
3.750%, 04/21/2037		1,463		1,193
3.250%, 04/21/2025		843		650
3.000%, 03/21/2047		2,718		1,953
2.750%, 06/21/2035		1,243		912
2.750%, 05/21/2041		1,042		735
2.500%, 05/21/2030		1,492		1,097
2.250%, 05/21/2028		33		24
0.500%, 09/21/2026		682		467
0.250%, 11/21/2025		1,211		839
Commonwealth Bank of Australia
0.125%, 10/15/2029	EUR	270		277
Commonwealth Bank of Australia MTN
3.000%, 05/03/2022		330		368
0.375%, 04/11/2024		455		504
Glencore Capital Finance DAC MTN
0.750%, 03/01/2029		450		447
Glencore Finance Europe MTN
1.500%, 10/15/2026		120		131
National Australia Bank
5.000%, 03/11/2024	AUD	750		589
2.990%, 05/21/2031 (A)	$	520		472
National Australia Bank MTN
2.250%, 06/06/2025	EUR	206		239
Westpac Banking MTN
1.250%, 01/14/2033		310		341

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Westpac Banking Corp MTN
0.500%, 05/17/2024	EUR	505	$	560
				13,937
Austria — 1.3%
JAB Holdings BV
1.000%, 12/20/2027		400		420
Republic of Austria Government Bond (A)
4.150%, 03/15/2037		561		893
2.400%, 05/23/2034		110		142
2.100%, 09/20/2117		50		67
0.850%, 06/30/2120		255		181
0.750%, 10/20/2026		1,983		2,233
0.750%, 03/20/2051		454		453
0.250%, 10/20/2036		351		344
0.023%, 02/20/2031		730		751
0.000%, 04/20/2025		647		713
Republic of Austria Government Bond, Ser 97-6
6.250%, 07/15/2027		789		1,145
				7,342
Belgium — 1.6%
Ageas
1.875%, 11/24/2051 (B)		200		201
Anheuser-Busch InBev MTN
1.150%, 01/22/2027		230		256
Kingdom of Belgium Government Bond
4.250%, 03/28/2041 (A)		470		775
3.750%, 06/22/2045		419		682
3.000%, 06/22/2034 (A)		580		787
2.600%, 06/22/2024 (A)		301		354
1.600%, 06/22/2047 (A)		351		402
1.400%, 06/22/2053 (A)		315		338
1.000%, 06/22/2026 (A)		370		421
1.000%, 06/22/2031 (A)		490		551
0.800%, 06/22/2025 (A)		484		547
0.500%, 10/22/2024 (A)		420		472
0.350%, 06/22/2032 (A)		620		645
0.200%, 10/22/2023 (A)		933		1,044
0.007%, 10/22/2031 (A)		266		270
0.000%, 10/22/2027 (A)		1,133		1,221
Kingdom of Belgium Government Bond, Ser 44
5.000%, 03/28/2035 (A)		64		104
				9,070
Brazil — 0.0%
OEC Finance
7.125%, 12/26/2046	$	167		5
4.375%, 10/25/2029		108		3
				8

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

19

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

International Fixed Income Fund (Continued)

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Canada — 6.6%
Bank of Nova Scotia
0.010%, 03/18/2025	EUR	645	$	700
Bell Canada MTN
4.700%, 09/11/2023	CAD	80		65
Canada Housing Trust No. 1
2.250%, 12/15/2025 (A)		1,325		1,046
Canadian Government Bond
5.750%, 06/01/2033		1,205		1,275
3.500%, 12/01/2045		158		151
2.750%, 12/01/2048		400		342
2.750%, 12/01/2048		300		257
2.500%, 06/01/2024		2,460		1,978
2.250%, 06/01/2029		3,329		2,645
1.500%, 06/01/2026		8,717		6,742
1.500%, 06/01/2031		268		199
1.000%, 06/01/2027		1,375		1,028
Canadian Pacific Railway
1.350%, 12/02/2024	$	805		772
Canadian When Issued Government Bond
2.000%, 12/01/2051	CAD	487		359
CPPIB Capital MTN
0.250%, 04/06/2027	EUR	1,765		1,888
Ontario Teachers' Finance Trust
2.000%, 04/16/2031 (A)	$	1,914		1,782
0.500%, 05/06/2025	EUR	1,066		1,172
Ontario Teachers' Finance Trust MTN
0.900%, 05/20/2041		707		686
Province of British Columbia Canada
2.950%, 12/18/2028	CAD	1,653		1,325
2.750%, 06/18/2052		835		608
Province of Ontario Canada
4.700%, 06/02/2037		1,355		1,266
4.650%, 06/02/2041		540		513
2.800%, 06/02/2048		2,200		1,605
2.400%, 06/02/2026		585		461
Province of Ontario Canada MTN
0.250%, 12/15/2026	GBP	2,337		2,834
Province of Quebec Canada
6.250%, 06/01/2032	CAD	720		733
3.500%, 12/01/2048		520		431
3.100%, 12/01/2051		780		606
Province of Quebec Canada MTN
3.700%, 05/20/2026	AUD	568		432
PSP Capital
1.625%, 10/26/2028 (A)	$	1,814		1,699
Rogers Communications
4.000%, 06/06/2022	CAD	165		133
Royal Bank of Canada MTN
1.125%, 12/15/2025	GBP	230		287
0.250%, 01/29/2024	EUR	189		209

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Toronto-Dominion Bank
0.000%, 02/09/2024	EUR	490	$	540
				36,769
Cayman Islands — 0.0%
Odebrecht Holdco Finance Ltd
0.000%, 09/10/2058 (C)	$	311		2
China — 8.9%
China Development Bank
4.880%, 02/09/2028	CNY	10,600		1,834
3.900%, 08/03/2040		4,280		711
3.700%, 10/20/2030		9,430		1,550
3.660%, 03/01/2031		4,680		766
3.650%, 05/21/2029		18,120		2,948
3.480%, 01/08/2029		23,680		3,818
3.410%, 06/07/2031		12,200		1,963
3.390%, 07/10/2027		16,630		2,675
3.230%, 01/10/2025		11,360		1,818
3.120%, 09/13/2031		9,540		1,504
China Government Bond
3.810%, 09/14/2050		19,820		3,339
3.720%, 04/12/2051		35,440		5,899
3.270%, 11/19/2030		28,430		4,620
3.020%, 10/22/2025		100		16
3.010%, 05/13/2028		52,640		8,401
2.850%, 06/04/2027		16,510		2,624
2.690%, 08/12/2026		16,200		2,565
2.680%, 05/21/2030		9,380		1,456
Prosus NV MTN
2.031%, 08/03/2032	EUR	245		222
1.985%, 07/13/2033 (A)		320		283
Weibo
3.500%, 07/05/2024	$	200		195
				49,207
Colombia — 0.7%
Colombian TES
10.000%, 07/24/2024	COP	2,757,800		754
7.750%, 09/18/2030		5,638,800		1,341
7.500%, 08/26/2026		1,565,300		390
7.250%, 10/18/2034		2,201,800		481
7.000%, 06/30/2032		1,379,900		303
6.000%, 04/28/2028		2,966,000		667
5.750%, 11/03/2027		279,700		63
				3,999
Czech Republic — 0.2%
Czech Republic Government Bond
4.700%, 09/12/2022	CZK	7,470		339
2.500%, 08/25/2028		14,630		615
1.200%, 03/13/2031		8,010		295
				1,249

20

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Denmark — 0.3%
Danske Bank MTN
5.875%, EUR Swap Annual 7 Yr + 5.471% (B)(D)	EUR	344	$	383
Denmark Government Bond
4.500%, 11/15/2039	DKK	2,040		484
0.000%, 11/15/2031		2,049		284
Kommunekredit MTN
0.125%, 09/26/2040	EUR	275		243
Orsted
6.250%, EUR Swap Annual 5 Yr + 4.750%, 06/26/2099 (B)		210		245
				1,639
Finland — 0.3%
Finland Government Bond (A)
0.875%, 09/15/2025		355		403
0.125%, 09/15/2031		610		631
0.125%, 04/15/2052		135		114
Nordea Bank Abp MTN
6.125%, USD Swap Semi 30/360 5 Yr Curr + 3.388% (B)(D)	$	200		207
Nordea Kiinnitysluottopankki MTN
0.250%, 03/18/2026	EUR	480		521
				1,876
France — 5.4%
BNP Paribas
4.625%, 03/13/2027 (A)	$	340		348
BNP Paribas MTN
3.375%, 01/23/2026	GBP	490		655
1.250%, 03/19/2025	EUR	375		418
0.500%, 02/19/2028 (B)		200		209
BNP Paribas Home Loan SFH
0.375%, 05/07/2025		400		439
BPCE
1.000%, 01/20/2026 (A)	$	950		871
BPCE MTN
2.000%, 06/05/2025	AUD	440		315
Caisse Francaise de Financement Local MTN
3.000%, 10/02/2028	EUR	100		124
0.500%, 01/19/2026		500		548
Cie de Financement Foncier
0.375%, 12/11/2024		300		331
Cie de Financement Foncier MTN
5.500%, 01/26/2027	GBP	387		589
CNP Assurances MTN
2.500%, 06/30/2051 (B)	EUR	200		212
Credit Agricole Assurances
4.750%, 09/27/2048 (B)		200		245
Credit Agricole Home Loan SFH MTN
1.250%, 03/24/2031		300		334

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
0.250%, 02/23/2024	EUR	700	$	776
Dexia Credit Local MTN
0.625%, 02/03/2024		200		223
0.500%, 01/17/2025		300		332
0.000%, 05/29/2024		1,200		1,319
Electricite de France
5.625%, USD Swap Semi 30/360 10 Yr Curr + 3.041% (A)(B)(D)	$	200		200
Electricite de France MTN
5.375%, EUR Swap Annual 12 Yr + 3.794% (B)(D)	EUR	200		231
4.000%, 11/12/2025		350		429
Engie MTN
0.875%, 03/27/2024		300		335
French Republic Government Bond OAT
5.750%, 10/25/2032		271		447
4.500%, 04/25/2041		239		412
4.000%, 04/25/2055 (A)		139		260
2.750%, 10/25/2027		339		422
2.500%, 05/25/2030		442		560
1.750%, 05/25/2023		2,359		2,689
1.750%, 06/25/2039 (A)		256		311
1.750%, 05/25/2066 (A)		84		101
1.500%, 05/25/2050 (A)		1,786		2,048
1.250%, 05/25/2036 (A)		340		384
0.750%, 05/25/2028		345		386
0.500%, 05/25/2029		395		433
0.500%, 06/25/2044 (A)		1,380		1,297
0.100%, 07/25/2031 (A)		169		223
0.000%, 03/25/2025		661		729
0.000%, 02/25/2023		1,007		1,125
0.000%, 02/25/2024		2,048		2,280
0.000%, 11/25/2029		504		529
0.000%, 11/25/2031		1,679		1,709
Kapla Holding SAS
3.250%, 12/15/2026 (B)		200		216
SNCF Reseau MTN
4.250%, 10/07/2026		200		256
2.250%, 12/20/2047		300		372
2.000%, 02/05/2048		300		349
1.125%, 05/19/2027		300		338
1.125%, 05/25/2030		200		224
Societe Generale (A)
4.250%, 04/14/2025	$	325		323
2.797%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.300%, 01/19/2028 (B)		300		281
Societe Nationale SNCF
1.000%, 05/25/2040	EUR	700		690
TotalEnergies MTN (D)
1.750% (B)		115		127
1.625% (B)		125		127

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

21

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

International Fixed Income Fund (Continued)

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
TotalEnergies Capital International MTN
2.500%, 03/25/2026	EUR	400	$	471
Westfield America Management
2.625%, 03/30/2029	GBP	155		190
2.125%, 03/30/2025		210		266
				30,058
Germany — 5.0%
Bundesobligation
0.000%, 10/09/2026	EUR	3,135		3,436
Bundesrepublik Deutschland Bundesanleihe
4.000%, 01/04/2037		234		387
3.250%, 07/04/2042		954		1,602
1.250%, 08/15/2048		1,013		1,305
1.000%, 08/15/2024		328		374
0.500%, 02/15/2026		197		221
0.170%, 08/15/2050		101		95
0.000%, 08/15/2031		2,225		2,360
0.000%, 05/15/2035		671		688
0.000%, 05/15/2036		1,490		1,515
Cheplapharm Arzneimittel GmbH
3.500%, 02/11/2027 (A)		191		207
Deutsche Bank MTN
1.000%, 11/19/2025 (B)		400		436
Deutsche Bundesrepublik Inflation Linked Bond
0.500%, 04/15/2030		192		264
Deutsche Telekom MTN
3.125%, 02/06/2034	GBP	328		439
1.750%, 12/09/2049	EUR	100		106
Deutsche Telekom International Finance BV MTN
0.625%, 04/03/2023		225		252
E.ON MTN
0.000%, 12/18/2023		550		609
HeidelbergCement Finance Luxembourg MTN
1.750%, 04/24/2028		120		133
1.625%, 04/07/2026		400		447
HOCHTIEF MTN
1.750%, 07/03/2025		400		448
Kreditanstalt fuer Wiederaufbau
2.600%, 06/20/2037	JPY	241,000		2,620
0.500%, 09/15/2027	EUR	510		559
0.125%, 06/07/2023		1,020		1,139
Kreditanstalt fuer Wiederaufbau MTN
0.875%, 09/15/2026	GBP	2,600		3,288
Landwirtschaftliche Rentenbank MTN
0.625%, 05/18/2027	EUR	225		248
0.000%, 12/13/2028		1,085		1,141

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Mercedes-Benz International Finance BV MTN
0.250%, 11/06/2023	EUR	430	$	477
Merck Financial Services GmbH MTN
0.125%, 07/16/2025		400		433
Siemens Financieringsmaatschappij
1.200%, 03/11/2026 (A)	$	775		719
Volkswagen International Finance
3.875% (B)(D)	EUR	300		328
1.125%, 10/02/2023		400		448
Volkswagen Leasing GmbH MTN
1.125%, 04/04/2024		520		580
ZF Europe Finance BV
2.000%, 02/23/2026		200		209
				27,513
Hungary — 0.2%
Hungary Government Bond
3.000%, 06/26/2024	HUF	297,650		837
1.500%, 08/23/2023		183,970		523
				1,360
Indonesia — 1.2%
Indonesia Treasury Bond
8.750%, 05/15/2031	IDR	7,551,000		594
8.375%, 03/15/2034		32,395,000		2,471
7.500%, 06/15/2035		2,199,000		157
7.375%, 05/15/2048		13,040,000		914
7.000%, 09/15/2030		2,959,000		210
6.500%, 06/15/2025		6,598,000		478
6.500%, 02/15/2031		18,489,000		1,265
5.500%, 04/15/2026		5,153,000		360
				6,449
Ireland — 0.7%
AerCap Ireland Capital DAC
4.500%, 09/15/2023	$	205		207
3.300%, 01/30/2032		450		406
1.150%, 10/29/2023		1,000		957
CRH Funding MTN
1.875%, 01/09/2024	EUR	310		351
Ireland Government Bond
1.500%, 05/15/2050		250		282
1.100%, 05/15/2029		670		761
1.000%, 05/15/2026		285		324
0.113%, 10/18/2031		304		307
Smurfit Kappa Acquisitions ULC
2.875%, 01/15/2026		265		308
				3,903
Israel — 0.1%
Israel Government Bond - Fixed
5.500%, 01/31/2042	ILS	675		300
2.000%, 03/31/2027		925		293

22

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
1.000%, 03/31/2030	ILS	593	$	172
				765
Italy — 4.2%
Eni
3.375% (B)(D)	EUR	135		143
Eni MTN
0.375%, 06/14/2028		130		133
Intesa Sanpaolo MTN
2.125%, 05/26/2025		330		376
0.750%, 12/04/2024		350		387
Italy Buoni Poliennali Del Tesoro
5.000%, 09/01/2040 (A)		1,644		2,575
3.500%, 03/01/2030 (A)		407		513
3.100%, 03/01/2040 (A)		122		152
3.000%, 08/01/2029		1,609		1,956
2.800%, 03/01/2067 (A)		359		403
2.700%, 03/01/2047 (A)		55		65
2.450%, 09/01/2033 (A)		98		114
2.150%, 03/01/2072 (A)		76		72
2.000%, 02/01/2028		542		622
1.850%, 07/01/2025 (A)		2,274		2,606
1.800%, 03/01/2041 (A)		247		253
1.700%, 09/01/2051 (A)		236		224
1.500%, 04/30/2045 (A)		847		801
0.950%, 12/01/2031 (A)		2,794		2,829
0.950%, 03/01/2037 (A)		1,549		1,457
0.019%, 04/01/2026		4,802		5,109
0.000%, 04/15/2024		1,429		1,574
Rimini Bidco
5.250%, 12/14/2026 (A)(B)		200		197
Societa Cattolica Di Assicurazione SPA
4.250%, 12/14/2047 (B)		200		230
UniCredit MTN
4.875%, EUAMDB05 + 4.739%, 02/20/2029 (B)		220		254
1.250%, 06/16/2026 (B)		460		503
				23,548
Japan — 16.5%
Development Bank of Japan
2.300%, 03/19/2026	JPY	180,000		1,607
Development Bank of Japan MTN
0.875%, 10/10/2025	EUR	1,145		1,266
Government of Japan 10 Year Bond
0.600%, 03/20/2023	JPY	604,800		5,015
0.400%, 06/20/2025		516,200		4,311
0.100%, 06/20/2026		172,500		1,426
0.100%, 03/20/2027		71,550		591
Government of Japan 20 Year Bond
1.700%, 06/20/2033		1,353,950		12,898
1.400%, 09/20/2034		503,250		4,678
1.000%, 12/20/2035		50,000		445

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
0.700%, 03/20/2037	JPY	38,450	$	328
0.500%, 09/20/2036		557,400		4,628
0.200%, 06/20/2036		206,200		1,644
Government of Japan 20 Year Bond, Ser 140
1.700%, 09/20/2032		33,600		319
Government of Japan 20 Year Bond, Ser 143
1.600%, 03/20/2033		40,300		380
Government of Japan 20 Year Bond, Ser 144
1.500%, 03/20/2033		98,300		918
Government of Japan 30 Year Bond
0.800%, 09/20/2047		709,500		5,796
0.300%, 06/20/2046		74,600		546
Government of Japan 30 Year Bond, Ser 29
2.400%, 09/20/2038		133,650		1,423
Government of Japan 30 Year Bond, Ser 30
2.300%, 03/20/2039		485,300		5,113
Government of Japan 30 Year Bond, Ser 33
2.000%, 09/20/2040		370,550		3,764
Government of Japan 30 Year Bond, Ser 36
2.000%, 03/20/2042		427,900		4,380
Government of Japan 30 Year Bond, Ser 37
1.900%, 09/20/2042		166,850		1,685
Government of Japan 30 Year Bond, Ser 38
1.800%, 03/20/2043		207,550		2,068
Government of Japan 40 Year Bond
0.400%, 03/20/2056		382,400		2,670
Government of Japan 40 Year Bond, Ser 6
1.900%, 03/20/2053		38,700		404
Japan Finance Organization for Municipalities MTN
0.050%, 02/12/2027	EUR	440		466
Japan Government Five Year Bond
0.100%, 09/20/2024	JPY	61,150		505
Japan Government Ten Year Bond
0.500%, 09/20/2024		1,478,250		12,339
0.100%, 09/20/2027		697,900		5,764
0.100%, 03/20/2029		35,900		296
Japan Government Thirty Year Bond
0.400%, 12/20/2049		142,950		1,034
0.300%, 06/20/2046		85,800		628
Japan Government Twenty Year Bond
1.800%, 09/20/2031		166,700		1,579
Mitsubishi UFJ Financial Group
0.339%, 07/19/2024	EUR	250		275
Nissan Motor
2.652%, 03/17/2026		165		185
NTT Finance
1.162%, 04/03/2026 (A)	$	345		318
				91,692

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

23

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

International Fixed Income Fund (Continued)

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Luxembourg — 0.1%
Matterhorn Telecom
3.125%, 09/15/2026	EUR	215	$	231
Prologis International Funding II
2.375%, 11/14/2030		200		228
Vivion Investments Sarl
3.000%, 08/08/2024		200		214
				673
Malaysia — 1.8%
Malaysia Government Bond
4.392%, 04/15/2026	MYR	2,816		694
4.232%, 06/30/2031		1,537		371
4.181%, 07/15/2024		6,636		1,621
3.955%, 09/15/2025		7,319		1,781
3.885%, 08/15/2029		2,890		684
3.828%, 07/05/2034		3,332		760
3.795%, 09/30/2022		4,878		1,172
3.757%, 05/22/2040		912		197
3.733%, 06/15/2028		2,316		549
3.502%, 05/31/2027		7,477		1,765
3.478%, 06/14/2024		1,305		314
2.632%, 04/15/2031		1,040		222
				10,130
Mexico — 2.3%
Mexican Bonos
8.000%, 11/07/2047	MXN	24,285		1,160
7.750%, 11/23/2034		6,369		305
7.750%, 11/13/2042		40,580		1,896
7.500%, 06/03/2027		27,467		1,322
5.750%, 03/05/2026		14,711		671
5.750%, 03/05/2026		8,429		384
Mexican Bonos, Ser M20
10.000%, 12/05/2024		43,808		2,275
8.500%, 05/31/2029		10,038		507
7.750%, 05/29/2031		39,174		1,893
Mexican Bonos, Ser M30
10.000%, 11/20/2036		27,167		1,556
8.500%, 11/18/2038		5,364		273
Mexico Government International Bond
2.875%, 04/08/2039	EUR	280		279
				12,521
Netherlands — 2.4%
ABN AMRO Bank
3.324%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 1.900%, 03/13/2037 (A)(B)	$	400		363
ASR Nederland
3.375%, 05/02/2049 (B)	EUR	255		287
BNG Bank MTN
0.250%, 02/22/2023		1,260		1,408
0.000%, 01/20/2031		900		909

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Cooperatieve Rabobank UA
4.375% (B)(D)	EUR	200	$	224
Cooperatieve Rabobank UA MTN
5.250%, 09/14/2027	GBP	195		281
4.625%, 05/23/2029		130		185
1.250%, 05/31/2032	EUR	300		332
Heineken MTN
1.000%, 05/04/2026		335		369
ING Groep
4.017%, U.S. SOFR + 1.830%, 03/28/2028 (B)	$	290		292
3.869%, U.S. SOFR + 1.640%, 03/28/2026 (B)		505		507
Nederlandse Waterschapsbank MTN
1.250%, 05/27/2036	EUR	281		308
0.625%, 01/18/2027		225		247
0.000%, 11/16/2026		1,067		1,142
Netherlands Government Bond (A)
4.000%, 01/15/2037		236		377
2.500%, 01/15/2033		874		1,144
2.000%, 07/15/2024		491		571
0.500%, 07/15/2026		670		750
0.240%, 01/15/2038		1,437		1,388
0.118%, 01/15/2052		421		367
0.000%, 01/15/2027		685		746
0.000%, 07/15/2031		1,014		1,058
				13,255
New Zealand — 0.9%
New Zealand Government Bond
5.500%, 04/15/2023	NZD	2,356		1,689
3.000%, 04/20/2029		345		237
2.750%, 04/15/2025		1,896		1,308
2.750%, 04/15/2037		80		52
2.000%, 05/15/2032		1,154		718
1.750%, 05/15/2041		124		67
1.500%, 05/15/2031		548		329
New Zealand Local Government Funding Agency Bond
4.500%, 04/15/2027		803		578
				4,978
Norway — 1.7%
DNB Boligkreditt MTN
0.375%, 11/20/2024	EUR	795		877
Equinor MTN
6.875%, 03/11/2031	GBP	185		326
Norway Government Bond (A)
3.000%, 03/14/2024	NOK	7,018		815
2.125%, 05/18/2032		3,550		390
2.000%, 05/24/2023		5,993		688
2.000%, 04/26/2028		3,667		405
1.750%, 03/13/2025		1,213		136

24

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
1.750%, 02/17/2027	NOK	10,007	$	1,102
1.750%, 09/06/2029		6,471		698
1.500%, 02/19/2026		14,994		1,651
1.375%, 08/19/2030		9,406		979
1.250%, 09/17/2031		14,924		1,519
				9,586
Peru — 0.0%
Volcan Cia Minera SAA
4.375%, 02/11/2026 (A)	$	21		20
Poland — 0.1%
Republic of Poland Government Bond
2.750%, 10/25/2029	PLN	1,493		304
2.500%, 07/25/2027		1,860		386
				690
Portugal — 0.6%
EDP Finance BV MTN
0.375%, 09/16/2026	EUR	440		469
Portugal Obrigacoes do Tesouro OT (A)
4.100%, 04/15/2037		277		410
2.200%, 10/17/2022		775		874
1.950%, 06/15/2029		492		579
0.700%, 10/15/2027		735		811
				3,143
Romania — 0.2%
Romania Government Bond
4.250%, 06/28/2023	RON	2,655		593
3.650%, 07/28/2025		1,540		324
				917
Singapore — 2.8%
Singapore Government Bond
3.500%, 03/01/2027	SGD	2,994		2,336
3.375%, 09/01/2033		162		131
3.125%, 09/01/2022		5,029		3,743
3.000%, 09/01/2024		6,783		5,131
2.875%, 07/01/2029		200		153
2.750%, 07/01/2023		1,441		1,079
2.750%, 04/01/2042		301		228
2.750%, 03/01/2046		200		150
2.250%, 08/01/2036		664		475
2.125%, 06/01/2026		1,790		1,317
Temasek Financial I MTN
2.375%, 01/23/2023 (A)	$	495		496
				15,239
Slovenia — 0.1%
Slovenia Government Bond
1.250%, 03/22/2027	EUR	556		636

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
South Africa — 0.2%
Anglo American Capital MTN
1.625%, 09/18/2025	EUR	415	$	459
1.625%, 03/11/2026		230		253
Bidvest Group UK PLC
3.625%, 09/23/2026 (A)	$	230		215
				927
South Korea — 1.1%
Korea Housing Finance
0.010%, 06/29/2026 (A)	EUR	150		159
Korea Treasury Bond
2.625%, 09/10/2035	KRW	700,180		554
2.000%, 06/10/2031		2,084,740		1,581
1.875%, 06/10/2029		496,110		379
1.500%, 12/10/2026		1,626,980		1,260
1.500%, 12/10/2030		1,797,120		1,312
1.250%, 03/10/2026		101,780		79
1.125%, 09/10/2025		1,252,200		976
				6,300
Spain — 3.5%
Banco Bilbao Vizcaya Argentaria
2.250%, 06/12/2024	EUR	200		230
Banco de Sabadell
0.625%, 11/07/2025 (B)		400		434
CaixaBank
1.250%, 01/11/2027		500		561
CaixaBank MTN
1.500%, GUKG1 + 1.320%, 12/03/2026 (B)	GBP	300		371
1.375%, 06/19/2026	EUR	300		329
Grifols Escrow Issuer SA
3.875%, 10/15/2028 (A)		100		106
Iberdrola International BV
1.874% (B)(D)		400		430
Lorca Telecom Bondco
4.000%, 09/18/2027		130		139
Spain Government Bond
6.000%, 01/31/2029		80		119
4.700%, 07/30/2041 (A)		699		1,156
3.450%, 07/30/2066 (A)		272		394
2.350%, 07/30/2033 (A)		658		800
1.950%, 07/30/2030 (A)		188		222
1.900%, 10/31/2052 (A)		610		648
1.850%, 07/30/2035 (A)		862		990
1.600%, 04/30/2025 (A)		259		298
1.500%, 04/30/2027 (A)		393		451
1.400%, 04/30/2028 (A)		1,014		1,158
1.000%, 07/30/2042 (A)		536		516
0.850%, 07/30/2037 (A)		497		487
0.600%, 10/31/2029 (A)		174		187
0.500%, 04/30/2030 (A)		418		442

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

25

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

International Fixed Income Fund (Continued)

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
0.500%, 10/31/2031 (A)	EUR	1,239	$	1,273
0.054%, 01/31/2028		3,295		3,469
0.000%, 05/31/2024		2,802		3,103
0.000%, 01/31/2026		770		834
				19,147
Supra-National — 2.2%
Asian Development Bank MTN
2.350%, 06/21/2027	JPY	410,000		3,787
European Financial Stability Facility MTN
0.500%, 07/11/2025	EUR	1,420		1,576
European Investment Bank
1.900%, 01/26/2026	JPY	50,000		441
European Investment Bank MTN
1.250%, 05/12/2025	SEK	13,180		1,396
0.875%, 12/15/2023	GBP	2,075		2,695
0.250%, 10/14/2024	EUR	156		173
European Stability Mechanism MTN
1.000%, 09/23/2025		570		642
European Union MTN
0.700%, 07/06/2051		80		77
International Bank for Reconstruction & Development MTN
0.000%, 01/15/2027		268		286
0.000%, 02/21/2030		33		34
International Finance MTN
2.375%, 07/19/2023	CAD	1,000		804
				11,911
Sweden — 0.9%
Balder Finland MTN
1.375%, 05/24/2030	EUR	380		370
Heimstaden Bostad Treasury BV MTN
1.375%, 03/03/2027		380		403
Kommunivest I Sverige AB MTN
1.000%, 10/02/2024	SEK	5,830		619
Samhallsbyggnadsbolaget i Norden MTN
1.125%, 09/04/2026	EUR	140		142
SBB Treasury MTN
1.125%, 11/26/2029		160		144
Skandinaviska Enskilda Banken MTN
0.250%, 06/20/2024		460		508
Stadshypotek
0.500%, 07/11/2025		1,470		1,618
Swedbank
5.625%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.134% (B)(D)	$	200		201
Swedbank Hypotek MTN
0.050%, 05/28/2025	EUR	195		212
Sweden Government Bond
0.125%, 05/12/2031 (A)	SEK	5,545		540
				4,757

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Switzerland — 0.4%
Credit Suisse Group (D)
7.500%, USD Swap Semi 30/360 5 Yr Curr + 4.600% (B)	$	286	$	291
7.500%, USD Swap Semi 30/360 5 Yr Curr + 4.600% (A)(B)		200		203
Government of Switzerland
1.500%, 04/30/2042	CHF	408		503
1.250%, 06/11/2024		739		827
Swiss Re Finance Luxembourg
5.000%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.582%, 04/02/2049 (A)(B)	$	200		207
				2,031
Thailand — 0.3%
Thailand Government Bond
4.875%, 06/22/2029	THB	16,455		580
4.675%, 06/29/2044		17,119		605
3.300%, 06/17/2038		3,522		106
2.125%, 12/17/2026		7,336		225
1.875%, 06/17/2049		3,746		79
				1,595
United Arab Emirates — 0.1%
Sweihan PV Power PJSC
3.625%, 01/31/2049 (A)	$	300		277
United Kingdom — 6.2%
Allwyn Entertainment Financing UK
4.125%, 02/15/2028 (A)(B)	EUR	100		109
Aptiv
1.500%, 03/10/2025		440		490
Aviva
6.125%, UK Govt Bonds 5 Year Note Generic Bid Yield + 2.850%, 11/14/2036 (B)	GBP	220		319
Barclays MTN
4.000%, 06/26/2029	AUD	500		352
BAT Capital
4.906%, 04/02/2030	$	105		108
BAT International Finance MTN
2.250%, 09/09/2052	GBP	100		78
1.250%, 03/13/2027	EUR	333		348
BAT Netherlands Finance BV MTN
3.125%, 04/07/2028		160		180
BG Energy Capital MTN
2.250%, 11/21/2029		400		455
BP Capital Markets (D)
3.625% (B)		281		308
3.250% (B)		612		683
BP Capital Markets MTN
0.831%, 11/08/2027		130		140

26

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
British Telecommunications MTN
3.125%, 11/21/2031	GBP	108	$	139
Cadent Finance MTN
2.750%, 09/22/2046		100		116
2.625%, 09/22/2038		100		118
CCEP Finance Ireland DAC
0.500%, 09/06/2029	EUR	335		342
CK Hutchison Finance 16 II
0.875%, 10/03/2024		212		235
CK Hutchison Group Telecom Finance
2.625%, 10/17/2034	GBP	260		301
1.500%, 10/17/2031	EUR	330		334
CNH Industrial Finance Europe MTN
2.875%, 05/17/2023		220		252
1.750%, 09/12/2025		130		146
CPUK Finance MTN
3.690%, 08/28/2028	GBP	100		137
3.588%, 08/28/2025		215		290
DS Smith MTN
1.375%, 07/26/2024	EUR	430		479
Gatwick Funding MTN
5.250%, 01/23/2024	GBP	250		344
Heathrow Funding MTN
2.750%, 08/09/2049		315		354
1.875%, 05/23/2022	EUR	235		262
HSBC Holdings
6.000%, EUR Swap Annual 5 Yr + 5.338% (B)(D)		200		233
3.000%, BPSW1 + 1.650%, 07/22/2028 (B)	GBP	167		217
HSBC Holdings MTN
6.000%, 03/29/2040		70		112
Natwest Group
3.622%, UK Govt Bonds 5 Year Note Generic Bid Yield + 3.550%, 08/14/2030 (B)		245		322
3.326%, ICE LIBOR USD 3 Month + 2.320% (B)(D)	$	200		200
Northumbrian Water Finance
6.875%, 02/06/2023	GBP	190		260
Pinewood Finance
3.625%, 11/15/2027 (A)		170		209
Santander UK MTN
1.250%, 09/18/2024	EUR	500		563
Santander UK Group Holdings PLC MTN
3.625%, 01/14/2026	GBP	100		134
Sky PLC MTN
2.250%, 11/17/2025	EUR	275		319
Standard Chartered (A)
1.809%, ICE LIBOR USD 3 Month + 1.510%, 07/30/2170 (B)(D)	$	500		430

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
1.456%, US Treas Yield Curve Rate T Note Const Mat 1 Yr + 1.000%, 01/14/2027 (B)	$	355	$	323
Thames Water Utilities Finance MTN
4.625%, 06/04/2046	GBP	155		246
United Kingdom Gilt
5.000%, 03/07/2025		43		62
4.500%, 12/07/2042		356		685
4.250%, 03/07/2036		56		96
4.250%, 09/07/2039		53		95
4.250%, 12/07/2040		1,418		2,587
4.250%, 12/07/2046		476		929
4.250%, 12/07/2049		393		793
3.500%, 01/22/2045		1,001		1,730
3.250%, 01/22/2044		457		756
2.750%, 09/07/2024		868		1,180
2.500%, 07/22/2065		1,101		1,843
2.250%, 09/07/2023		19		25
1.750%, 09/07/2037		213		278
1.500%, 07/22/2047		194		240
1.250%, 10/22/2041		163		194
1.250%, 07/31/2051		881		1,022
1.000%, 04/22/2024		77		101
0.875%, 10/22/2029		1,668		2,099
0.750%, 07/22/2023		948		1,240
0.625%, 06/07/2025		78		100
0.625%, 07/31/2035		200		227
0.625%, 10/22/2050		904		891
0.500%, 10/22/2061		828		732
0.375%, 10/22/2026		1,448		1,815
0.250%, 07/31/2031		536		624
0.125%, 01/31/2024		885		1,138
United Kingdom Gilt - Inflation Linked
1.250%, 11/22/2027		444		749
United Kingdom Treasury
4.750%, 12/07/2038		76		143
Vodafone Group MTN
4.200%, 12/13/2027	AUD	490		368
Western Power Distribution West Midlands PLC MTN
3.875%, 10/17/2024	GBP	230		312
Zurich Finance PLC MTN
6.625%, 10/30/2049 (B)		235		315
				34,356
United States — 8.8%
AbbVie
2.625%, 11/15/2028	EUR	610		717
2.300%, 11/21/2022	$	800		803
Air Lease
2.100%, 09/01/2028		186		163
1.875%, 08/15/2026		110		101

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

27

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

International Fixed Income Fund (Continued)

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Air Lease MTN
2.875%, 01/15/2026	$	40	$	39
Aircastle
5.250%, 08/11/2025 (A)		261		266
4.250%, 06/15/2026		4		4
4.125%, 05/01/2024		22		22
Ally Financial
4.700%, H15T7Y + 3.481% (B)(D)		116		106
Altria Group
3.125%, 06/15/2031	EUR	310		345
2.200%, 06/15/2027		330		366
American Honda Finance
1.950%, 10/18/2024		159		181
0.300%, 07/07/2028		320		328
American Medical Systems Europe BV
1.375%, 03/08/2028		250		272
American Tower
1.300%, 09/15/2025	$	535		498
0.875%, 05/21/2029	EUR	420		427
AT&T
4.375%, 09/14/2029	GBP	100		143
2.875% (B)(D)	EUR	200		216
1.650%, 02/01/2028	$	870		793
Aviation Capital Group LLC (A)
5.500%, 12/15/2024		80		82
3.500%, 11/01/2027		8		8
1.950%, 01/30/2026		108		99
1.950%, 09/20/2026		231		209
Axalta Coating Systems LLC
3.375%, 02/15/2029 (A)		210		185
Bank of America
2.551%, U.S. SOFR + 1.050%, 02/04/2028 (B)		153		146
Bank of America MTN
7.000%, 07/31/2028	GBP	200		326
3.559%, ICE LIBOR USD 3 Month + 1.060%, 04/23/2027 (B)	$	79		79
3.384%, U.S. SOFR + 1.330%, 04/02/2026 (B)		767		766
2.375%, 06/19/2024	EUR	835		961
Becton Dickinson
1.336%, 08/13/2041		300		274
1.213%, 02/12/2036		129		126
0.632%, 06/04/2023		200		223
0.334%, 08/13/2028		280		285
Berkshire Hathaway
0.500%, 01/15/2041		170		142
Berkshire Hathaway Finance
2.625%, 06/19/2059	GBP	144		173
Booking Holdings
2.375%, 09/23/2024	EUR	355		409
0.500%, 03/08/2028		110		115

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Boston Scientific
0.625%, 12/01/2027	EUR	410	$	429
Bristol-Myers Squibb
0.537%, 11/13/2023	$	950		924
Broadcom
3.187%, 11/15/2036 (A)		185		161
Capital One Financial
1.650%, 06/12/2029	EUR	300		319
CCO Holdings
4.500%, 06/01/2033 (A)	$	127		114
CDW
2.670%, 12/01/2026		305		287
Centene
2.625%, 08/01/2031		128		114
Charles Schwab
5.375%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.971% (B)(D)		395		407
0.750%, 03/18/2024		420		406
Charter Communications Operating
3.900%, 06/01/2052		225		190
Chubb INA Holdings
1.550%, 03/15/2028	EUR	325		358
0.875%, 06/15/2027		115		123
0.300%, 12/15/2024		190		208
Citigroup
4.000%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.597% (B)(D)	$	71		68
Citigroup MTN
0.750%, 10/26/2023	EUR	115		129
0.500%, 10/08/2027 (B)		505		534
Comcast
0.250%, 05/20/2027		190		201
0.000%, 09/14/2026		550		582
Continental Resources (A)
5.750%, 01/15/2031	$	126		138
2.875%, 04/01/2032		170		152
Corebridge Financial
3.500%, 04/04/2025 (A)		330		330
CyrusOne
1.450%, 01/22/2027	EUR	254		291
Delta Airlines
4.500%, 10/20/2025 (A)	$	480		483
DH Europe Finance II
1.800%, 09/18/2049	EUR	105		108
Digital Intrepid Holding BV
0.625%, 07/15/2031		410		378
Discovery Communications
5.300%, 05/15/2049	$	18		19
5.200%, 09/20/2047		36		37
4.650%, 05/15/2050		14		14

28

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
3.900%, 11/15/2024	$	665	$	672
Eli Lilly
1.375%, 09/14/2061	EUR	195		168
Emerson Electric
0.375%, 05/22/2024		350		386
Energy Transfer
4.950%, 05/15/2028	$	39		40
Essential Properties
2.950%, 07/15/2031		215		188
Exxon Mobil
0.835%, 06/26/2032	EUR	600		604
Fidelity National Information Services
0.625%, 12/03/2025		185		201
0.125%, 12/03/2022		500		557
Ford Credit Canada
3.349%, 09/19/2022	CAD	730		585
Ford Motor Credit
2.979%, 08/03/2022	$	200		200
GE Capital UK Funding Unlimited MTN
5.875%, 01/18/2033	GBP	160		256
General Motors Financial MTN
0.955%, 09/07/2023	EUR	275		307
General Motors Financial of Canada
2.600%, 06/01/2022	CAD	1,300		1,043
Gilead Sciences
0.750%, 09/29/2023	$	545		532
Global Payments
2.900%, 11/15/2031		455		415
GLP Capital
3.250%, 01/15/2032		189		172
Goldman Sachs Group
0.627%, U.S. SOFR + 0.538%, 11/17/2023 (B)		715		706
Goldman Sachs Group MTN
2.125%, 09/30/2024	EUR	885		1,011
GSK Consumer Healthcare Capital US
3.024%, 03/24/2024 (A)	$	265		265
Host Hotels & Resorts
3.500%, 09/15/2030		200		191
Intercontinental Exchange
0.700%, 06/15/2023		535		527
International Business Machines
0.300%, 02/11/2028	EUR	240		252
Johnson Controls International PLC
1.375%, 02/25/2025		395		442
JPMorgan Chase
7.900%, ICE LIBOR USD 3 Month + 3.470% (B)(D)	$	91		91
4.287%, ICE LIBOR USD 3 Month + 3.320% (B)(D)		46		46
2.947%, U.S. SOFR + 1.170%, 02/24/2028 (B)		295		288

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
JPMorgan Chase MTN
1.090%, Euribor 3 Month + 0.760%, 03/11/2027 (B)	EUR	660	$	723
Kraft Heinz Foods
2.250%, 05/25/2028		175		199
Kyndryl Holdings
2.050%, 10/15/2026 (A)	$	455		406
Las Vegas Sands
3.900%, 08/08/2029		275		252
Liberty Mutual Group
3.625%, 05/23/2059 (B)	EUR	300		330
Magallanes (A)
5.050%, 03/15/2042	$	220		224
4.054%, 03/15/2029		92		92
3.755%, 03/15/2027		137		137
MassMutual Global Funding II MTN
0.850%, 06/09/2023 (A)		998		980
McKesson
3.125%, 02/17/2029	GBP	315		416
Medtronic Global Holdings SCA
1.375%, 10/15/2040	EUR	110		109
1.125%, 03/07/2027		400		443
0.250%, 07/02/2025		115		125
Metropolitan Life Global Funding I MTN
1.950%, 01/13/2023 (A)	$	1,000		1,000
Mileage Plus Holdings LLC
6.500%, 06/20/2027 (A)		350		365
Mondelez International
0.250%, 03/17/2028	EUR	470		487
Mondelez International Holdings Netherlands BV
0.625%, 09/09/2032 (A)		450		430
Morgan Stanley
0.406%, 10/29/2027 (B)		370		390
Morgan Stanley MTN
2.475%, U.S. SOFR + 1.000%, 01/21/2028 (B)	$	530		505
0.529%, U.S. SOFR + 0.455%, 01/25/2024 (B)		1,000		984
National Grid North America MTN
1.000%, 07/12/2024	EUR	300		335
Netflix
3.625%, 05/15/2027		200		237
NOV
3.600%, 12/01/2029	$	205		202
Office Properties Income Trust
4.500%, 02/01/2025		270		269
ONEOK
6.350%, 01/15/2031		89		103
Oracle
3.650%, 03/25/2041		160		140

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

29

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

International Fixed Income Fund (Continued)

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Philip Morris International
1.450%, 08/01/2039	EUR	115	$	97
0.625%, 11/08/2024		285		312
Philip Morris International MTN
2.875%, 03/03/2026		170		199
Plains All American Pipeline
3.550%, 12/15/2029	$	79		76
Principal Life Global Funding II
1.250%, 06/23/2025 (A)		315		295
Prudential Financial
5.875%, ICE LIBOR USD 3 Month + 4.175%, 09/15/2042 (B)		199		200
Public Storage
0.500%, 09/09/2030	EUR	260		252
PVH
4.625%, 07/10/2025	$	348		355
Realty Income
1.125%, 07/13/2027	GBP	385		467
S&P Global (A)
4.750%, 08/01/2028	$	17		18
4.250%, 05/01/2029		72		76
Sabra Health Care LP
3.900%, 10/15/2029		280		269
Schlumberger Finance France SAS
1.000%, 02/18/2026	EUR	305		337
Southern
1.875%, 09/15/2081 (B)		200		198
Starbucks
0.621%, SOFRINDX + 0.420%, 02/14/2024 (B)	$	330		331
Starbucks
1.300%, 05/07/2022		350		350
Thermo Fisher Scientific Finance I BV
0.800%, 10/18/2030	EUR	260		270
Time Warner Cable
5.750%, 06/02/2031	GBP	295		439
T-Mobile USA
3.375%, 04/15/2029 (A)	$	52		49
2.875%, 02/15/2031		77		69
2.625%, 02/15/2029		87		79
Toyota Motor Credit MTN
0.625%, 11/21/2024	EUR	465		514
Tyco Electronics Group
0.000%, 02/16/2029		308		307
UnitedHealth Group
1.250%, 01/15/2026	$	175		165
US Bancorp MTN
0.850%, 06/07/2024	EUR	226		252
Verizon Communications
4.016%, 12/03/2029	$	391		406
2.100%, 03/22/2028		445		415
1.125%, 11/03/2028	GBP	240		285

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Verizon Communications MTN
4.050%, 02/17/2025	AUD	680	$	520
VF
0.250%, 02/25/2028	EUR	395		407
Vistra
7.000%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 5.740% (A)(B)(D)	$	68		66
Vornado Realty
3.400%, 06/01/2031		334		314
Wells Fargo
3.900%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 3.453% (B)(D)		132		126
Wells Fargo MTN
2.125%, 12/20/2023	GBP	345		451
1.375%, 06/30/2022		195		257
0.500%, 04/26/2024	EUR	500		553
Welltower
4.500%, 12/01/2034	GBP	140		204
Western Digital
3.100%, 02/01/2032	$	150		134
2.850%, 02/01/2029		32		29
Western Union
2.750%, 03/15/2031		355		323
WPC Eurobond BV
1.350%, 04/15/2028	EUR	530		557
				48,953
Total Global Bonds
(Cost $543,454) ($ Thousands)				512,428
U.S. TREASURY OBLIGATIONS — 4.3%
U.S. Treasury Bill
0.505%, 06/23/2022 (E)	$	22,195		22,171
U.S. Treasury Bond
2.042%, 11/15/2050 (E)		1,513		746
U.S. Treasury Inflation Indexed Bonds
0.125%, 10/15/2026		736		773
U.S. Treasury Notes
0.500%, 03/31/2025		94		89
0.375%, 01/31/2026		20		18
Total U.S. Treasury Obligations
(Cost $23,920) ($ Thousands)				23,797

30

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Description	Face Amount (Thousands)		Market Value ($ Thousands)
ASSET-BACKED SECURITIES — 0.3%
Other Asset-Backed Securities — 0.3%
Elmwood CLO XII, Ser 2021-5A, Cl D
3.171%, ICE LIBOR USD 3 Month + 3.050%, 01/20/2035 (A)(B)	$	750	$	744
Neuberger Berman Loan Advisers Euro CLO 3 DAC, Ser 2022-3A, Cl D
3.200%, 10/25/2034 (A)(B)	EUR	663		704
				1,448
Total Asset-Backed Securities
(Cost $1,507) ($ Thousands)				1,448
COMMERCIAL PAPER — 0.2%
National Grid
0.739%, 05/04/2022 (A)(E)	$	1,200		1,199
Total Commercial Paper
(Cost $1,199) ($ Thousands)				1,199
MORTGAGE-BACKED SECURITIES — 0.0%
Agency Mortgage-Backed Obligation — 0.0%
FNMA Connecticut Avenue Securities, Ser 2014-C04, Cl 2M2
5.457%, ICE LIBOR USD 1 Month + 5.000%, 11/25/2024(B)		38		38
FNMA Connecticut Avenue Securities, Ser 2016-C07, Cl 2M2
4.807%, ICE LIBOR USD 1 Month + 4.350%, 05/25/2029(B)		81		85
				123
Non-Agency Mortgage-Backed Obligation — 0.0%
Bear Stearns Adjustable Rate Mortgage Trust, Ser 2004-6, Cl 3A
2.165%, 09/25/2034(B)		9		8
JPMorgan Mortgage Trust, Ser 2004-A5, Cl 3A1
2.585%, 12/25/2034(B)		20		20
LSTAR Commercial Mortgage Trust, Ser 2016-4, Cl A2
2.579%, 03/10/2049(A)		134		134
				162
Total Mortgage-Backed Securities
(Cost $283) ($ Thousands)				285
Total Investments in Securities — 97.2%
(Cost $570,363) ($ Thousands)			$	539,157

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

31

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

International Fixed Income Fund (Continued)

A list of the open futures contracts held by the Fund at March 31, 2022, is as follows:

Type of Contract	Number of Contracts			Expiration Date		Notional Amount (Thousands)			Value (Thousands)			Unrealized Appreciation/ (Depreciation) (Thousands)
Long Contracts
Australian 10-Year Bond		86			Jun-2022	$	8,322		$	8,186		$	(303	)
Australian 3-Year Bond		12			Jun-2022		987			990			(16	)
Euro-Bob		46			Jun-2022		6,585			6,595			33
Euro-BTP		3			Jun-2022		470			462			(11	)
Euro-Bund		51			Jun-2022		9,242			9,003			(294	)
Euro-Buxl		12			Jun-2022		2,638			2,486			(171	)
Euro-OAT		24			Jun-2022		4,176			4,046			(152	)
Japanese 10-Year Bond		19			Jun-2022		24,641			23,434			(136	)
Long Gilt 10-Year Bond		21			Jul-2022		3,448			3,352			(23	)
U.S. 2-Year Treasury Note		13			Jul-2022		2,755			2,755			–
U.S. 5-Year Treasury Note		40			Jul-2022		4,580			4,588			8
U.S. 10-Year Treasury Note		23			Jun-2022		2,907			2,826			(81	)
U.S. Long Treasury Bond		23			Jun-2022		3,590			3,451			(139	)
Ultra U.S. Treasury Bond		17			Jun-2022		3,007			3,011			4
							77,348			75,185			(1,281	)
Short Contracts
Australian 3-Year Bond		(17	)		Jun-2022	$	(1,393	)	$	(1,403	)	$	26
Canadian 5-Year Bond		(20	)		Jun-2022		(1,895	)		(1,879	)		51
Canadian 10-Year Bond		(17	)		Jun-2022		(1,819	)		(1,777	)		76
Euro		(240	)		Jun-2022		(33,369	)		(33,297	)		72
Euro-Bob		(23	)		Jun-2022		(3,268	)		(3,298	)		(8	)
Euro-Bund		(38	)		Jun-2022		(6,955	)		(6,708	)		295
Euro-Buxl		(14	)		Jun-2022		(3,004	)		(2,900	)		121
Euro-OAT		(24	)		Jun-2022		(4,081	)		(4,046	)		63
Euro-Schatz		(10	)		Jun-2022		(1,230	)		(1,232	)		(2	)
Euro-Schatz		(87	)		Jun-2022		(10,773	)		(10,719	)		110
Japanese 10-Year Bond		(4	)		Jun-2022		(4,856	)		(4,933	)		(24	)
Long Gilt 10-Year Bond		(1	)		Jul-2022		(166	)		(160	)		1
Mini-10 year JGB		(28	)		Jun-2022		(3,652	)		(3,458	)		21
U.S. 2-Year Treasury Note		(93	)		Jul-2022		(19,977	)		(19,709	)		268
U.S. 5-Year Treasury Note		(154	)		Jul-2022		(17,824	)		(17,662	)		162
U.S. Ultra Long Treasury Bond		(8	)		Jun-2022		(1,491	)		(1,417	)		74
Ultra 10-Year U.S. Treasury Note		(32	)		Jun-2022		(4,466	)		(4,335	)		131
							(120,219	)		(118,933	)		1,437
						$	(42,871	)	$	(43,748	)	$	156

A list of the open forward foreign currency contracts held by the Fund at March 31, 2022, is as follows:

Counterparty	Settlement Date		Currency to Deliver (Thousands)			Currency to Receive (Thousands)			Unrealized Appreciation (Depreciation) (Thousands)
Bank of America		04/06/22		USD	276		JPY	33,300	$	(1	)
Bank of America		04/06/22		CAD	350		USD	280		—
Bank of America		04/06/22		AUD	380		USD	281		(5	)
Bank of America		04/06/22		GBP	198		USD	261		—
Bank of America		04/06/22		GBP	214		USD	280		(2	)
Bank of America		04/06/22		NZD	415		USD	282		(7	)
Bank of America		04/06/22		USD	422		MXN	8,760		17
Bank of America		04/06/22		USD	1,537		EUR	1,395		15
Bank of America		04/06/22		NOK	2,530		USD	282		(7	)
Bank of America		04/06/22		PLN	8,684		USD	2,044		(39	)
Bank of America		04/28/22		USD	2,300		AUD	3,124		46

32

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Counterparty	Settlement Date		Currency to Deliver (Thousands)			Currency to Receive (Thousands)			Unrealized Appreciation (Depreciation) (Thousands)
Bank of America		04/28/22		KRW	1,265,955		USD	1,064	$	20
Barclays PLC		04/06/22		USD	7		TRY	110		—
Barclays PLC		04/06/22		TRY	110		USD	7		—
Barclays PLC		04/06/22		USD	280		NOK	2,510		7
Barclays PLC		04/06/22		USD	674		CNY	4,264		(1	)
Barclays PLC		04/06/22 - 05/06/22		CHF	780		USD	838		(11	)
Barclays PLC		04/06/22		USD	786		JPY	90,500		(41	)
Barclays PLC		04/06/22		USD	839		AUD	1,120		2
Barclays PLC		04/06/22		EUR	902		USD	996		(8	)
Barclays PLC		04/06/22		USD	913		ILS	2,941		8
Barclays PLC		04/06/22		GBP	1,064		USD	1,408		7
Barclays PLC		04/06/22 - 05/06/22		USD	1,114		CHF	1,040		17
Barclays PLC		04/06/22		USD	1,182		PLN	5,069		35
Barclays PLC		04/06/22 - 05/06/22		USD	835		GBP	637		4
Barclays PLC		04/06/22		USD	562		GBP	425		(2	)
Barclays PLC		04/06/22		CNY	1,779		USD	279		(2	)
Barclays PLC		04/06/22		USD	279		EUR	253		3
Barclays PLC		04/06/22		USD	2,074		EUR	1,844		(23	)
Barclays PLC		04/06/22		USD	2,362		SGD	3,214		13
Barclays PLC		04/06/22 - 05/06/22		NZD	3,023		USD	2,091		(10	)
Barclays PLC		04/06/22		AUD	6,565		USD	4,747		(183	)
Barclays PLC		04/06/22		NOK	9,917		USD	1,105		(29	)
Barclays PLC		05/06/22		USD	278		NZD	401		—
Barclays PLC		05/06/22		ILS	2,941		USD	914		(8	)
Barclays PLC		05/06/22		SGD	3,214		USD	2,362		(14	)
Barclays PLC		05/06/22		PLN	5,069		USD	1,178		(35	)
BNP Paribas		04/06/22		USD	167		NOK	1,460		—
BNP Paribas		04/06/22		GBP	425		USD	561		2
BNP Paribas		04/06/22		USD	555		CHF	520		10
BNP Paribas		04/06/22		USD	568		AUD	775		14
BNP Paribas		04/06/22		CAD	715		USD	558		(15	)
BNP Paribas		04/06/22		NZD	1,030		USD	703		(14	)
BNP Paribas		04/06/22		USD	851		NZD	1,250		18
BNP Paribas		04/06/22		USD	282		NZD	405		(1	)
BNP Paribas		04/06/22		USD	1,159		CNY	7,378		4
BNP Paribas		04/06/22		USD	1,402		EUR	1,274		15
BNP Paribas		04/06/22		USD	1,408		CAD	1,795		29
BNP Paribas		04/06/22 - 05/06/22		USD	1,409		SEK	13,498		40
BNP Paribas		04/06/22		USD	1,446		HUF	493,834		49
BNP Paribas		04/06/22		USD	2,270		MYR	9,582		9
BNP Paribas		04/06/22		AUD	2,295		USD	1,686		(37	)
BNP Paribas		04/06/22 - 05/06/22		USD	1,401		GBP	1,067		4
BNP Paribas		04/06/22		USD	1,065		GBP	799		(13	)
BNP Paribas		04/06/22 - 05/12/22		EUR	2,533		USD	2,787		(32	)
BNP Paribas		04/06/22		CHF	260		USD	283		1
BNP Paribas		04/06/22		CHF	2,515		USD	2,713		(21	)
BNP Paribas		05/06/22		NOK	2,400		USD	280		5
BNP Paribas		04/06/22		NOK	2,490		USD	283		(2	)
BNP Paribas		04/06/22		DKK	5,649		USD	849		4
BNP Paribas		04/06/22		CNY	5,658		USD	890		(2	)

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

33

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

International Fixed Income Fund (Continued)

Counterparty	Settlement Date		Currency to Deliver (Thousands)			Currency to Receive (Thousands)			Unrealized Appreciation (Depreciation) (Thousands)
BNP Paribas		04/06/22 - 05/06/22		SEK	10,688		USD	1,127	$	(20	)
BNP Paribas		04/06/22		MYR	9,582		USD	2,280		1
BNP Paribas		05/06/22		MYR	9,582		USD	2,268		(13	)
BNP Paribas		04/06/22 - 05/06/22		USD	65,519		JPY	8,107,436		1,283
BNP Paribas		04/06/22		USD	1,743		JPY	201,400		(83	)
BNP Paribas		04/06/22		JPY	8,225,351		USD	71,194		3,422
BNP Paribas		04/06/22 - 05/06/22		JPY	8,107,436		USD	65,557		(1,290	)
BNP Paribas		04/21/22		USD	983		SGD	1,332		2
BNP Paribas		04/21/22		ZAR	16,186		USD	1,097		(8	)
BNP Paribas		05/06/22		HUF	493,834		USD	1,440		(51	)
BNP Paribas		05/18/22		CNY	125,652		USD	19,647		(94	)
BNP Paribas		05/19/22		USD	1,020		MXN	20,887		19
Brown Brothers Harriman		04/22/22		USD	452		CAD	576		9
Brown Brothers Harriman		04/28/22		USD	1,209		AUD	1,623		10
Brown Brothers Harriman		05/12/22		EUR	500		USD	571		14
Brown Brothers Harriman		05/12/22		EUR	646		USD	716		(3	)
Brown Brothers Harriman		05/12/22		USD	1,469		EUR	1,336		20
Brown Brothers Harriman		05/12/22		USD	1,230		EUR	1,077		(31	)
Brown Brothers Harriman		06/09/22		GBP	317		USD	415		(3	)
Brown Brothers Harriman		06/17/22		NOK	129		USD	15		—
Brown Brothers Harriman		06/17/22		SEK	19,365		USD	2,060		(22	)
CIBC		04/06/22		USD	114		CAD	145		2
CIBC		04/06/22		CAD	14,587		USD	11,463		(216	)
Citigroup		04/04/22		USD	2,035		BRL	10,451		164
Citigroup		04/06/22		USD	144		SGD	195		—
Citigroup		04/06/22		USD	561		GBP	423		(4	)
Citigroup		04/06/22		USD	602		RON	2,713		8
Citigroup		04/06/22		USD	626		PLN	2,730		29
Citigroup		04/06/22		USD	847		SEK	8,110		24
Citigroup		04/06/22		CAD	1,070		USD	845		(11	)
Citigroup		04/06/22 - 06/09/22		GBP	1,099		USD	1,440		(6	)
Citigroup		04/06/22		USD	1,125		NZD	1,650		23
Citigroup		04/06/22		NZD	1,245		USD	845		(21	)
Citigroup		04/06/22 - 05/06/22		USD	1,256		AUD	1,710		28
Citigroup		04/06/22		USD	1,446		CZK	32,479		33
Citigroup		04/06/22		USD	556		JPY	68,000		5
Citigroup		04/06/22		USD	1,125		JPY	131,300		(44	)
Citigroup		04/06/22 - 04/22/22		USD	1,840		CAD	2,337		31
Citigroup		04/13/22		CHF	967		USD	1,053		1
Citigroup		04/06/22 - 05/06/22		CHF	1,295		USD	1,399		(10	)
Citigroup		04/06/22 - 05/12/22		EUR	2,444		USD	2,695		(25	)
Citigroup		04/06/22 - 04/13/22		USD	2,993		CHF	2,795		45
Citigroup		04/06/22		SGD	3,214		USD	2,374		(1	)
Citigroup		04/06/22 - 05/06/22		USD	4,781		MXN	97,100		74
Citigroup		04/06/22		NOK	5,100		USD	567		(16	)
Citigroup		04/06/22 - 05/06/22		RON	5,426		USD	1,208		(12	)
Citigroup		04/06/22 - 04/28/22		AUD	11,128		USD	7,870		(487	)
Citigroup		04/06/22		JPY	98,600		USD	852		40
Citigroup		04/06/22 - 05/06/22		MXN	100,482		USD	4,945		(80	)
Citigroup		04/07/22		USD	1,016		INR	76,745		(4	)
Citigroup		04/07/22		INR	77,401		USD	1,022		1

34

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Counterparty	Settlement Date		Currency to Deliver (Thousands)			Currency to Receive (Thousands)			Unrealized Appreciation (Depreciation) (Thousands)
Citigroup		04/21/22		USD	1,037		ZAR	16,039	$	59
Citigroup		05/06/22		CZK	32,479		USD	1,441		(33	)
Citigroup		05/12/22		USD	578		EUR	521		2
Citigroup		05/18/22		USD	223		CNY	1,422		—
Citigroup		05/25/22		USD	1,001		COP	3,865,395		23
Citigroup		05/25/22		USD	1,006		CLP	817,899		24
Citigroup		05/25/22		CLP	809,496		USD	1,029		10
Commonwealth Bank Of Australia		04/06/22		USD	1,381		JPY	168,515		7
Credit Suisse First Boston		04/06/22		GBP	211		USD	281		3
Credit Suisse First Boston		04/06/22		CHF	260		USD	283		1
Credit Suisse First Boston		04/06/22		USD	279		JPY	33,000		(7	)
Credit Suisse First Boston		04/13/22		CHF	956		USD	1,034		(5	)
Credit Suisse First Boston		05/06/22		NZD	200		USD	139		—
Credit Suisse First Boston		05/06/22		USD	1,110		PLN	4,640		—
Deutsche Bank		05/18/22		CNY	1,375		USD	216		—
Goldman Sachs		04/04/22		USD	266		BRL	1,357		20
Goldman Sachs		04/06/22		USD	208		ZAR	3,220		13
Goldman Sachs		04/06/22		NZD	415		USD	284		(5	)
Goldman Sachs		05/06/22		USD	278		GBP	212		1
Goldman Sachs		04/06/22 - 05/06/22		USD	760		GBP	577		(1	)
Goldman Sachs		04/06/22 - 05/06/22		TRY	9,275		USD	610		(13	)
Goldman Sachs		04/06/22 - 04/21/22		ZAR	23,045		USD	1,475		(99	)
Goldman Sachs		04/06/22		HUF	493,834		USD	1,504		8
Goldman Sachs		04/07/22		USD	1,004		INR	76,886		10
Goldman Sachs		04/07/22		INR	77,909		USD	1,015		(13	)
Goldman Sachs		04/28/22		USD	1,161		AUD	1,567		16
Goldman Sachs		04/29/22		USD	1,035		TWD	28,719		(31	)
Goldman Sachs		04/29/22		TWD	28,336		USD	993		3
Goldman Sachs		05/06/22		AUD	370		USD	278		—
Goldman Sachs		05/06/22		USD	277		EUR	249		—
Goldman Sachs		05/06/22		USD	2,876		EUR	2,582		(1	)
Goldman Sachs		05/19/22		USD	984		MXN	20,053		14
HSBC		04/04/22 - 05/03/22		BRL	10,408		USD	2,111		(71	)
HSBC		04/21/22		USD	2,089		SGD	2,814		(9	)
HSBC		04/28/22		USD	1,032		IDR	14,949,768		10
HSBC		04/28/22		USD	1,001		KRW	1,241,892		23
HSBC		04/28/22		USD	1,055		KRW	1,267,948		(10	)
HSBC		04/28/22		EUR	21,210		USD	23,345		(268	)
HSBC		04/28/22		KRW	1,256,496		USD	1,049		13
HSBC		04/29/22		TWD	28,952		USD	1,019		6
HSBC		05/03/22		USD	1,362		BRL	6,584		13
HSBC		05/06/22		GBP	106		USD	139		—
HSBC		05/12/22		USD	1,459		EUR	1,325		17
HSBC		05/18/22		CNY	6,513		USD	1,017		(6	)
HSBC		05/25/22		COP	3,828,500		USD	998		(17	)
JPMorgan Chase Bank		04/05/22		THB	58,070		USD	1,776		29
JPMorgan Chase Bank		04/06/22		SGD	195		USD	143		(1	)
JPMorgan Chase Bank		04/06/22		USD	207		TRY	3,095		4
JPMorgan Chase Bank		04/06/22		USD	208		PLN	910		10

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

35

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

International Fixed Income Fund (Continued)

Counterparty	Settlement Date		Currency to Deliver (Thousands)			Currency to Receive (Thousands)			Unrealized Appreciation (Depreciation) (Thousands)
JPMorgan Chase Bank		04/06/22		USD	284		NOK	2,530	$	6
JPMorgan Chase Bank		04/06/22		GBP	92		USD	121		—
JPMorgan Chase Bank		04/06/22		GBP	213		USD	280		(1	)
JPMorgan Chase Bank		04/06/22		USD	347		RON	1,562		5
JPMorgan Chase Bank		04/06/22		USD	563		CAD	710		6
JPMorgan Chase Bank		04/06/22		USD	565		SEK	5,580		34
JPMorgan Chase Bank		04/06/22		NZD	830		USD	563		(14	)
JPMorgan Chase Bank		04/06/22		USD	856		EUR	779		11
JPMorgan Chase Bank		04/06/22		CHF	520		USD	566		1
JPMorgan Chase Bank		04/06/22		CHF	525		USD	561		(10	)
JPMorgan Chase Bank		04/06/22		AUD	1,150		USD	850		(13	)
JPMorgan Chase Bank		04/06/22 - 05/06/22		USD	845		GBP	643		2
JPMorgan Chase Bank		04/06/22		USD	565		GBP	428		(1	)
JPMorgan Chase Bank		04/06/22		USD	1,418		AUD	1,945		43
JPMorgan Chase Bank		04/06/22		EUR	1,460		USD	1,608		(17	)
JPMorgan Chase Bank		04/06/22		ILS	2,941		USD	904		(18	)
JPMorgan Chase Bank		04/06/22 - 05/06/22		RON	3,124		USD	696		(6	)
JPMorgan Chase Bank		04/06/22 - 05/06/22		USD	3,730		ZAR	56,260		112
JPMorgan Chase Bank		04/06/22		NOK	5,140		USD	572		(16	)
JPMorgan Chase Bank		04/06/22		SEK	19,230		USD	1,981		(82	)
JPMorgan Chase Bank		04/06/22 - 01/13/23		USD	23,856		CNY	152,358		160
JPMorgan Chase Bank		04/06/22		USD	283		CNY	1,791		(1	)
JPMorgan Chase Bank		04/06/22		ZAR	26,580		USD	1,807		(12	)
JPMorgan Chase Bank		04/06/22		JPY	97,750		USD	839		33
JPMorgan Chase Bank		04/06/22		CNY	154,719		USD	24,441		51
JPMorgan Chase Bank		04/06/22 - 05/06/22		CNY	149,672		USD	23,391		(179	)
JPMorgan Chase Bank		04/08/22 - 04/13/22		USD	2,491		IDR	35,739,826		(3	)
JPMorgan Chase Bank		04/08/22 - 04/28/22		IDR	108,622,380		USD	7,544		(22	)
JPMorgan Chase Bank		04/13/22		USD	61		EUR	55		—
JPMorgan Chase Bank		04/13/22		USD	218		COP	824,889		1
JPMorgan Chase Bank		04/14/22		EUR	11,607		USD	13,167		250
JPMorgan Chase Bank		04/13/22		EUR	27,242		USD	30,241		(76	)
JPMorgan Chase Bank		04/13/22		COP	1,018,503		USD	272		1
JPMorgan Chase Bank		04/13/22		COP	248,685		USD	66		—
JPMorgan Chase Bank		04/21/22 - 06/13/22		SGD	18,942		USD	13,956		(44	)
JPMorgan Chase Bank		04/25/22		USD	417		JPY	51,203		5
JPMorgan Chase Bank		04/25/22		USD	1,266		PEN	4,758		13
JPMorgan Chase Bank		04/25/22		PEN	7,776		USD	2,075		(15	)
JPMorgan Chase Bank		04/25/22		JPY	2,930,682		USD	24,849		691
JPMorgan Chase Bank		04/25/22		JPY	216,574		USD	1,780		(5	)
JPMorgan Chase Bank		05/06/22		USD	279		CHF	260		4
JPMorgan Chase Bank		05/06/22		TRY	3,095		USD	201		(6	)
JPMorgan Chase Bank		05/06/22		PLN	4,618		USD	1,067		(39	)
JPMorgan Chase Bank		05/23/22		ILS	8,705		USD	2,696		(36	)
JPMorgan Chase Bank		05/23/22 - 06/06/22		THB	192,579		USD	5,897		101
JPMorgan Chase Bank		06/06/22		THB	11,096		USD	331		(3	)
JPMorgan Chase Bank		05/23/22		CLP	54,168		USD	68		—
JPMorgan Chase Bank		05/23/22		CLP	949,515		USD	1,162		(35	)
JPMorgan Chase Bank		06/06/22 - 06/13/22		CNY	39,127		USD	6,156		11
JPMorgan Chase Bank		06/13/22		CNY	2,766		USD	433		(1	)

36

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Counterparty	Settlement Date		Currency to Deliver (Thousands)			Currency to Receive (Thousands)			Unrealized Appreciation (Depreciation) (Thousands)
JPMorgan Chase Bank		06/13/22		GBP	161		USD	211	$	(1	)
JPMorgan Chase Bank		06/13/22		USD	336		NOK	2,914		(3	)
JPMorgan Chase Bank		06/13/22		USD	950		CHF	884		13
JPMorgan Chase Bank		06/13/22		USD	1,457		SGD	1,978		5
JPMorgan Chase Bank		06/13/22		USD	278		GBP	212		—
JPMorgan Chase Bank		06/13/22		USD	1,193		GBP	892		(20	)
JPMorgan Chase Bank		06/13/22		USD	5,779		SEK	56,048		248
JPMorgan Chase Bank		06/13/22		USD	349		SEK	3,233		(1	)
JPMorgan Chase Bank		06/13/22		CAD	515		USD	413		—
JPMorgan Chase Bank		06/13/22		CAD	7,399		USD	5,866		(58	)
JPMorgan Chase Bank		06/13/22		CHF	8,722		USD	9,503		(6	)
JPMorgan Chase Bank		06/13/22		NZD	19,281		USD	13,066		(321	)
JPMorgan Chase Bank		06/13/22		NOK	3,947		USD	452		1
JPMorgan Chase Bank		06/13/22		NOK	18,238		USD	2,049		(36	)
JPMorgan Chase Bank		06/14/22		AUD	9,942		USD	7,312		(162	)
JPMorgan Chase Bank		06/15/22		USD	200		KRW	242,086		(1	)
JPMorgan Chase Bank		06/15/22		KRW	2,852,272		USD	2,314		(36	)
JPMorgan Chase Bank		06/17/22		SEK	9,343		USD	991		(14	)
JPMorgan Chase Bank		06/21/22		USD	248		MXN	5,030		1
JPMorgan Chase Bank		06/21/22		MXN	12,409		USD	615		1
JPMorgan Chase Bank		06/21/22		MXN	115,359		USD	5,424		(281	)
Merrill Lynch		05/12/22		USD	514		EUR	460		(2	)
Montgomery/Bank of America		05/12/22		EUR	21,182		USD	24,245		651
Morgan Stanley		04/06/22		USD	277		SEK	2,630		5
Morgan Stanley		04/06/22		USD	284		GBP	216		—
Morgan Stanley		04/06/22		USD	282		GBP	210		(6	)
Morgan Stanley		04/06/22		USD	833		DKK	5,649		12
Morgan Stanley		04/06/22		USD	8		NOK	70		—
Morgan Stanley		04/06/22 - 05/06/22		USD	1,249		NOK	10,805		(14	)
Morgan Stanley		04/06/22		CHF	1,305		USD	1,410		(8	)
Morgan Stanley		04/06/22		USD	1,406		JPY	164,600		(50	)
Morgan Stanley		04/06/22		USD	2,460		NZD	3,636		69
Morgan Stanley		04/06/22 - 05/06/22		NZD	3,003		USD	2,042		(46	)
Morgan Stanley		04/06/22 - 05/06/22		USD	3,270		CAD	4,115		24
Morgan Stanley		05/06/22		PLN	4,324		USD	1,085		50
Morgan Stanley		04/06/22		PLN	25		USD	6		—
Morgan Stanley		04/06/22 - 04/28/22		AUD	5,324		USD	3,881		(118	)
Morgan Stanley		04/06/22		SEK	5,408		USD	570		(11	)
Morgan Stanley		04/06/22 - 05/06/22		NOK	10,805		USD	1,249		13
Morgan Stanley		04/06/22		USD	1,295		EUR	1,177		14
Morgan Stanley		05/06/22 - 05/12/22		USD	10,508		EUR	9,399		(41	)
Morgan Stanley		04/06/22		EUR	323		USD	360		—
Morgan Stanley		04/06/22 - 05/12/22		EUR	12,559		USD	13,956		(32	)
Morgan Stanley		04/06/22 - 06/09/22		GBP	11,793		USD	15,607		88
Morgan Stanley		05/06/22 - 06/09/22		GBP	2,347		USD	3,067		(21	)
Morgan Stanley		04/06/22 - 05/06/22		CAD	28,708		USD	22,758		(225	)
Morgan Stanley		04/06/22		CZK	32,479		USD	1,464		(16	)
Morgan Stanley		04/06/22		JPY	99,050		USD	832		16
Morgan Stanley		04/06/22		JPY	33,700		USD	276		(2	)
Morgan Stanley		04/21/22		USD	1,104		ZAR	16,933		53

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

37

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

International Fixed Income Fund (Continued)

Counterparty	Settlement Date		Currency to Deliver (Thousands)			Currency to Receive (Thousands)			Unrealized Appreciation (Depreciation) (Thousands)
Morgan Stanley		04/28/22		USD	1,052		KRW	1,262,165	$	(11	)
Morgan Stanley		04/29/22		USD	987		TWD	28,352		5
Morgan Stanley		05/06/22		DKK	5,649		USD	833		(12	)
Morgan Stanley		07/07/22		USD	999		INR	76,486		(1	)
RBC		04/06/22		CAD	355		USD	282		(2	)
Standard Chartered		04/06/22		USD	167		MYR	707		1
Standard Chartered		04/06/22		USD	279		JPY	33,100		(7	)
Standard Chartered		04/06/22		USD	562		EUR	500		(6	)
Standard Chartered		04/06/22		MYR	707		USD	168		—
Standard Chartered		05/06/22		MYR	707		USD	167		(1	)
Standard Chartered		04/07/22		USD	1,021		INR	78,165		11
Standard Chartered		04/28/22		USD	1,051		IDR	15,177,269		6
Standard Chartered		04/28/22		IDR	15,104,561		USD	1,047		(5	)
Standard Chartered		04/29/22		USD	998		TWD	28,773		9
Standard Chartered		04/29/22		TWD	28,608		USD	1,025		24
Standard Chartered		05/06/22		THB	58,070		USD	1,746		(1	)
Standard Chartered		06/10/22		NZD	3,167		USD	2,155		(43	)
State Street		04/06/22		USD	140		MXN	2,920		6
State Street		04/06/22		GBP	214		USD	282		—
State Street		04/06/22		USD	280		JPY	33,100		(7	)
State Street		04/06/22		USD	280		CHF	260		2
State Street		04/06/22		EUR	399		USD	447		3
State Street		04/06/22		USD	564		GBP	430		2
State Street		04/06/22 - 05/06/22		USD	565		AUD	760		5
State Street		04/06/22		NZD	835		USD	568		(13	)
State Street		04/06/22		JPY	65,200		USD	562		25
State Street		05/06/22		CHF	255		USD	276		(1	)
State Street		05/06/22		AUD	370		USD	277		(1	)
TD Securities		04/06/22		USD	218		EUR	198		3
TD Securities		04/06/22		USD	427		CAD	545		10
TD Securities		04/06/22		NOK	868		USD	98		(1	)
TD Securities		04/06/22		USD	21,885		GBP	16,706		110
TD Securities		04/06/22		GBP	17,861		USD	23,903		387
TD Securities		05/06/22		GBP	16,491		USD	21,602		(102	)
TD Securities		05/06/22		USD	1,795		JPY	218,399		5
TD Securities		05/06/22		AUD	7,325		USD	5,486		(16	)
UBS		04/06/22		USD	282		AUD	380		4
UBS		04/06/22		CAD	355		USD	281		(3	)
UBS		04/06/22		AUD	370		USD	278		—
UBS		04/06/22		USD	563		SEK	5,380		14
UBS		04/06/22 - 05/06/22		USD	1,123		NZD	1,630		11
UBS		04/06/22		USD	1,133		NOK	10,170		30
UBS		05/06/22		USD	273		NOK	2,380		(1	)
UBS		04/06/22		NOK	1,460		USD	168		1
UBS		04/06/22 - 05/06/22		USD	1,530		CAD	1,935		20
UBS		04/06/22 - 05/06/22		USD	1,262		JPY	153,400		3
UBS		04/06/22		USD	278		JPY	33,600		(1	)
UBS		04/06/22		NZD	1,375		USD	958		1
UBS		04/06/22		NZD	800		USD	555		(1	)
UBS		04/06/22 - 05/06/22		CHF	3,470		USD	3,719		(56	)

38

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Counterparty	Settlement Date		Currency to Deliver (Thousands)			Currency to Receive (Thousands)			Unrealized Appreciation (Depreciation) (Thousands)
UBS		04/06/22		USD	3,790		CHF	3,545	$	63
UBS		04/06/22		USD	62,030		EUR	56,547		890
UBS		04/06/22		USD	432		EUR	386		(2	)
UBS		04/06/22		EUR	56,728		USD	63,463		342
UBS		04/06/22 - 05/06/22		EUR	56,039		USD	61,529		(874	)
UBS		04/13/22		CHF	972		USD	1,063		7
UBS		04/13/22		USD	1,048		CHF	969		5
UBS		04/13/22		USD	1,060		CHF	972		(3	)
UBS		04/28/22		IDR	14,986,096		USD	1,042		(3	)
UBS		05/06/22		GBP	211		USD	277		—
UBS		05/06/22		USD	211		CZK	4,660		—
UBS		05/06/22		USD	244		MXN	4,900		—
UBS		05/06/22		CNY	7,753		USD	1,218		(2	)
UBS		05/12/22		EUR	936		USD	1,041		(2	)
									$	3,760

A list of the open OTC swap agreements held by the Fund at March 31, 2022, is as follows:

Interest Rate Swaps
Counterparty	Fund Pays	Fund Receives		Payment Frequency		Termination Date		Currency		Notional Amount (Thousands)		Value (Thousands)		Upfront Payments (Thousands)		Net Unrealized Appreciation (Thousands)
Deutsche Bank	China 7-Day Reverse Repo Rate		2.985%		Quarterly		06/03/2024		CNY		23,220	$	68	$	–	$	68
Deutsche Bank	China 7-Day Reverse Repo Rate		2.755%		Quarterly		09/09/2024		CNY		31,000		67		–		67
												$	135	$	–	$	135

A list of the open centrally cleared swap agreements held by the Fund at March 31, 2022, is as follows:

Interest Rate Swaps
Fund Pays	Fund Receives		Payment Frequency		Termination Date		Currency		Notional Amount (Thousands)		Value (Thousands)			Upfront Payments/ Receipts (Thousands)			Net Unrealized Appreciation (Depreciation) (Thousands)
Overnight Brazilian Interbank Deposit Rate		4.915%		Annually		01/02/2023		BRL		9,678	$	(114	)	$	–		$	(114	)
Overnight Brazilian Interbank Deposit Rate		4.94%		Annually		01/02/2023		BRL		5,658		(66	)		–			(66	)
Overnight Brazilian Interbank Deposit Rate		4.945%		Annually		01/02/2023		BRL		5,062		(59	)		–			(59	)
Daily GBP Overnight Index Ave (SONIA) Rate		2.00%		Annually		03/31/2024		GBP		2,800		–			–			–
3-MONTH NZD RATE		2.58%		Semi-Annually		11/01/2024		NZD		980		(13	)		–			(13	)
3-MONTH NZD RATE		2.0525%		Semi-Annually		11/02/2024		NZD		2,620		(38	)		–			(38	)
Daily GBP Overnight Index Ave (SONIA) Rate		0.377%		Annually		02/28/2025		GBP		1,230		(75	)		2			(77	)
2.8%	Overnight CNY Interbank Deposit Rate			Quarterly		04/02/2026		CNY		12,090		28			–			28
Daily GBP Overnight Index Ave (SONIA) Rate		1.897%		Annually		03/31/2027		GBP		1,150		–			–			–
1.395%	Daily GBP Overnight Index Ave (SONIA) Rate			Annually		10/03/2047		GBP		460		10			(95	)		105

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

39

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

International Fixed Income Fund (Concluded)

Fund Pays	Fund Receives		Payment Frequency		Termination Date		Currency		Notional Amount (Thousands)		Value (Thousands)			Upfront Payments/ Receipts (Thousands)			Net Unrealized Appreciation (Depreciation) (Thousands)
Daily GBP Overnight Index Ave (SONIA) Rate		0.1711%		Annually		07/20/2050		GBP		85	$	(33	)	$	(17	)	$	(16	)
0.5475%	Daily GBP Overnight Index Ave (SONIA) Rate			Annually		08/04/2051		GBP		170		47			–			47
Daily GBP Overnight Index Ave (SONIA) Rate		0.945%		Annually		01/07/2052		GBP		210		(33	)		–			(33	)
											$	(346	)	$	(110	)	$	(236	)

	Percentages are based on Net Assets of $554,574 ($ Thousands).
(A)	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 institutions. On March 31, 2022, the value of these securities amounted to $79,838 ($ Thousands), representing 14.4% of the Net Assets of the Fund.
(B)	Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.
(C)	Zero coupon security.
(D)	Perpetual security with no stated maturity date.
(E)	Interest rate represents the security's effective yield at the time of purchase.

AUD — Australian Dollar

BRL — Brazilian Real

CAD — Canadian Dollar

CHF — Swiss Franc

Cl — Class

CLP — Chilean Peso

CLO — Collateralized Loan Obligation

CNY — Chinese Yuan Onshore

COP — Colombian Peso

CZK — Czech Koruna

DAC — Designated Activity Company

DKK — Danish Krone

EUR — Euro

FNMA — Federal National Mortgage Association

GBP — British Pound Sterling

HUF — Hungarian Forint

ICE— Intercontinental Exchange

IDR — Indonesian Rupiah

ILS — Israeli New Sheckels

INR — Indian Rupee

JGP — Japanese Government Bond

JPY — Japanese Yen

KRW — Korean Won

LIBOR— London Interbank Offered Rate

LLC — Limited Liability Company

L.P. — Limited Partnership

Ltd. — Limited

MTN — Medium Term Note

MXN — Mexican Peso

MYR — Malaysian Ringgit

NOK — Norwegian Krone

NZD — New Zealand Dollar

OTC — Over The Counter

PEN — Peruvian Nuevo Sol

PJSC — Public Joint-Stock Company

PLC — Public Limited Company

PLN — Polish Zloty

RON — Romanian Leu

S&P— Standard & Poor's

SEK — Swedish Krona

Ser — Series

SGD — Singapore Dollar

SOFR — Secured Overnight Financing Rate

SOFRINDX — Secured Overnight Financing Rate Index

THB — Thai Baht

TRY — Turkish Lira

TWD — Taiwan Dollar

ULC — Unlimited Liability Company

USD — U.S. Dollar

ZAR — South African Rand

40

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

The following is a list of the level of inputs used as of March 31, 2022, in valuing the Fund’s investments and other financial instruments carried at value ($ Thousands):

Investments in Securities	Level 1 ($)		Level 2 ($)		Level 3 ($)		Total ($)
Global Bonds		–		512,428		–		512,428
U.S. Treasury Obligations		–		23,797		–		23,797
Asset-Backed Securities		–		1,448		–		1,448
Commercial Paper		–		1,199		–		1,199
Mortgage-Backed Securities		–		285		–		285
Total Investments in Securities		–		539,157		–		539,157

Other Financial Instruments	Level 1 ($)			Level 2 ($)			Level 3 ($)		Total ($)
Futures Contracts*
Unrealized Appreciation		1,516			–			–		1,516
Unrealized Depreciation		(1,360	)		–			–		(1,360	)
Forwards Contracts*
Unrealized Appreciation		–			10,835			–		10,835
Unrealized Depreciation		–			(7,075	)		–		(7,075	)
OTC Swaps
Interest Rate Swaps*
Unrealized Appreciation		–			135			–		135
Centrally Cleared Swaps
Interest Rate Swaps*
Unrealized Appreciation		–			180			–		180
Unrealized Depreciation		–			(416	)		–		(416	)
Total Other Financial Instruments		156			3,659			–		3,815

* Futures contracts, forwards contracts and swap contracts are valued at the unrealized appreciation (depreciation) on the instruments.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

41

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

Emerging Markets Debt Fund

^†Percentages based on total investments. Includes investments held as collateral for securities on loan (see Note 9). Total investments do not include derivatives such as options, futures contracts, forward contracts, and swap contracts, if applicable.

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS — 92.7%
Angola — 0.9%
Angolan Government International Bond
9.375%, 05/08/2048	$	3,350	$	3,290
8.250%, 05/09/2028		1,085		1,104
Angolan Government International Bond MTN
9.125%, 11/26/2049 (A)		1,023		994
9.125%, 11/26/2049 (B)		413		401
8.000%, 11/26/2029 (A)		1,648		1,654
8.000%, 11/26/2029 (B)		731		734
Republic of Angola Via Avenir II BV MTN
7.845%, ICE LIBOR USD 6 Month + 7.500%, 07/01/2023 (C)		2,708		2,735
Republic of Angola Via Avenir Issuer II Ireland DAC
6.927%, 02/19/2027		2,736		2,582
				13,494
Argentina — 1.5%
Argentine Republic Government International Bond
2.500%, 3.500%, 07/09/2022, 07/09/2041 (D)		11,898		4,193
2.000%, 3.875%, 07/09/2022, 01/09/2038 (D)		4,768		1,793
1.125%, 1.500%, 07/09/2022, 07/09/2035 (D)		6,776		2,066
1.125%, 1.500%, 07/09/2022, 07/09/2046 (D)		1,056		330
1.000%, 07/09/2029		7,908		2,701
0.500%, 07/09/2029	EUR	13		5
0.500%, 0.750%, 07/09/2023, 07/09/2030 (D)	$	25,803		8,644
0.125%, 07/09/2030	EUR	403		130
MSU Energy
6.875%, 02/01/2025 (B)	$	285		224

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Provincia de Buenos Aires MTN
2.000%, 3.000%, 09/01/2022, 09/01/2037 (D)	EUR	666	$	222
Provincia de Cordoba
5.000%, 12/10/2025 (A)(B)	$	540		421
YPF
4.000%, 9.000%, 01/01/2023, 02/12/2026 (D)		573		513
				21,242
Armenia — 0.1%
Republic of Armenia International Bond
3.600%, 02/02/2031 (A)		1,005		790
Azerbaijan — 0.7%
Republic of Azerbaijan International Bond
5.125%, 09/01/2029		1,945		1,992
Southern Gas Corridor CJSC
6.875%, 03/24/2026		5,562		6,070
State Oil of the Azerbaijan Republic
6.950%, 03/18/2030		2,380		2,624
				10,686
Bahamas — 0.0%
Bahamas Government International Bond
6.000%, 11/21/2028		650		503
Bahrain — 0.8%
Bahrain Government International Bond
7.000%, 01/26/2026 (B)		957		1,033
7.000%, 10/12/2028 (B)		507		549
6.750%, 09/20/2029		200		211
6.125%, 08/01/2023 (A)		520		537
6.000%, 09/19/2044 (A)		297		259
5.625%, 09/30/2031 (B)		946		918
5.625%, 09/30/2031		200		194
5.450%, 09/16/2032 (A)		3,796		3,615
Bahrain Government International Bond MTN
6.250%, 01/25/2051		232		204
5.250%, 01/25/2033 (A)(B)		1,347		1,244
4.250%, 01/25/2028 (A)		797		770
CBB International Sukuk Programme WLL
3.875%, 05/18/2029 (B)		1,094		1,061
Oil and Gas Holding BSCC (B)
8.375%, 11/07/2028		560		610
7.625%, 11/07/2024		794		834
				12,039
Belarus — 0.1%
Development Bank of the Republic of Belarus JSC
6.750%, 05/02/2024		1,172		111

42

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Republic of Belarus International Bond
6.875%, 02/28/2023 (B)	$	1,612	$	242
6.875%, 02/28/2023		409		61
6.378%, 02/24/2031 (B)		899		117
6.378%, 02/24/2031		372		48
6.200%, 02/28/2030		260		36
6.200%, 02/28/2030 (B)		89		13
5.875%, 02/24/2026		1,564		188
				816
Belize — 0.0%
Belize Government International Bond
5.000%, 02/20/2038		1,173		604
Benin — 0.0%
Benin Government International Bond
6.875%, 01/19/2052	EUR	158		147
4.950%, 01/22/2035		389		352
4.875%, 01/19/2032		102		99
				598
Bermuda — 0.2%
Bermuda Government International Bond
4.750%, 02/15/2029	$	1,754		1,882
3.717%, 01/25/2027		631		640
2.375%, 08/20/2030 (A)		221		202
				2,724
Brazil — 7.0%
Braskem Netherlands Finance BV
5.875%, 01/31/2050 (B)		309		307
Brazil Letras do Tesouro Nacional
0.000%, 07/01/2023 (E)	BRL	14,000		2,536
0.000%, 01/01/2024 (E)		58,000		9,990
0.000%, 01/01/2025 (E)		34,000		5,298
Brazil Loan Trust 1
5.477%, 07/24/2023 (B)	$	83		85
Brazil Minas SPE via State of Minas Gerais
5.333%, 02/15/2028		1,699		1,716
5.333%, 02/15/2028		1,176		1,188
5.333%, 02/15/2028 (B)		134		136
Brazil Notas do Tesouro Nacional, Serie B
6.000%, 05/15/2045	BRL	818		699
6.000%, 08/15/2050		281		241
Brazil Notas do Tesouro Nacional, Serie F
10.000%, 01/01/2023		97,082		20,045
10.000%, 01/01/2025		67,256		13,657
10.000%, 01/01/2027		51,913		10,370
10.000%, 01/01/2029		41,036		8,027
10.000%, 01/01/2031		24,869		4,771
Brazilian Government International Bond
5.625%, 01/07/2041	$	757		732
5.625%, 02/21/2047		709		670
5.000%, 01/27/2045 (A)		2,329		2,070

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
4.750%, 01/14/2050	$	1,868	$	1,564
4.500%, 05/30/2029		274		269
3.875%, 06/12/2030		400		369
3.750%, 09/12/2031 (A)		4,543		4,100
2.875%, 06/06/2025		1,969		1,929
Centrais Eletricas Brasileiras
4.625%, 02/04/2030 (B)		226		211
CSN Inova Ventures
6.750%, 01/28/2028 (B)		592		613
CSN Resources
4.625%, 06/10/2031 (B)		625		570
Globo Comunicacao e Participacoes
5.500%, 01/14/2032 (B)		410		369
Gol Finance
7.000%, 01/31/2025 (B)		998		828
Iochpe-Maxion Austria GmbH
5.000%, 05/07/2028 (B)		620		565
MC Brazil Downstream Trading SARL
7.250%, 06/30/2031 (B)		1,225		1,127
Minerva Luxembourg
4.375%, 03/18/2031 (B)		297		269
MV24 Capital BV
6.748%, 06/01/2034 (B)		375		364
Nexa Resources
5.375%, 05/04/2027 (B)		2,591		2,630
Petrobras Global Finance BV
5.500%, 06/10/2051		457		392
StoneCo
3.950%, 06/16/2028		616		517
Suzano Austria GmbH (B)
7.000%, 03/16/2047		399		447
6.000%, 01/15/2029		288		311
5.000%, 01/15/2030		494		503
				100,485
Cameroon — 0.0%
Republic of Cameroon International Bond
5.950%, 07/07/2032	EUR	543		531
Cayman Islands — 0.1%
Neon Capital MTN
2.015%, 01/06/2028 (C)	JPY	245,168		1,779
Chile — 1.9%
Alfa Desarrollo SpA
4.550%, 09/27/2051 (B)	$	227		197
ATP Tower Holdings LLC
4.050%, 04/27/2026 (B)		255		242
Banco de Credito e Inversiones
3.500%, 10/12/2027 (B)		1,046		1,062
Bonos de la Tesoreria de la Republica
1.900%, 09/01/2030	CLP	1,312,301		1,673

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

43

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

Emerging Markets Debt Fund (Continued)

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Bonos de la Tesoreria de la Republica en pesos
6.000%, 01/01/2043	CLP	375,000	$	474
5.000%, 10/01/2028 (B)		1,115,000		1,357
5.000%, 03/01/2035		390,000		447
4.700%, 09/01/2030 (B)		1,410,000		1,634
4.500%, 03/01/2026		1,090,000		1,296
2.800%, 10/01/2033 (B)		640,000		607
Cencosud
4.375%, 07/17/2027 (B)	$	1,819		1,849
Chile Government International Bond
4.340%, 03/07/2042		547		562
3.625%, 10/30/2042		925		862
3.500%, 01/31/2034		228		225
3.250%, 09/21/2071		1,615		1,307
3.100%, 05/07/2041		243		214
3.100%, 01/22/2061 (A)		308		254
2.750%, 01/31/2027		1,597		1,561
2.550%, 01/27/2032 (A)		893		839
2.550%, 07/27/2033		7,487		6,818
2.450%, 01/31/2031 (A)		236		221
Empresa de los Ferrocarriles del Estado
3.830%, 09/14/2061		350		291
Empresa de Transporte de Pasajeros Metro
3.650%, 05/07/2030 (B)		217		216
Empresa Nacional del Petroleo
5.250%, 11/06/2029		749		780
3.450%, 09/16/2031 (B)		331		304
Nacional del Cobre de Chile
3.750%, 01/15/2031 (B)		234		234
3.700%, 01/30/2050 (B)		452		405
3.150%, 01/14/2030		800		769
3.000%, 09/30/2029		224		213
				26,913
China — 6.3%
Blossom Joy
3.100% (C)(F)		202		198
China Government Bond
3.810%, 09/14/2050	CNY	5,900		994
3.720%, 04/12/2051		4,000		666
3.530%, 10/18/2051		18,400		2,993
3.280%, 12/03/2027		49,950		8,109
3.270%, 11/19/2030		64,040		10,407
3.020%, 10/22/2025		37,700		6,043
3.020%, 05/27/2031		6,600		1,052
3.010%, 05/13/2028		8,850		1,412
2.890%, 11/18/2031		69,050		10,953
2.880%, 11/05/2023		25,000		3,976
2.850%, 06/04/2027		41,980		6,671
2.750%, 02/17/2032		3,000		471
2.690%, 08/12/2026		4,000		633
2.680%, 05/21/2030		51,050		7,925

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
1.990%, 04/09/2025	CNY	60,830	$	9,444
China Government International Bond
3.250%, 10/19/2023	$	1,592		1,613
1.875%, 12/03/2022		200		200
1.250%, 10/26/2026 (B)		1,460		1,382
0.550%, 10/21/2025		1,150		1,064
0.400%, 10/21/2023		2,410		2,338
China Minmetals
3.750% (C)(F)		1,647		1,650
Chinalco Capital Holdings
4.250%, 04/21/2022		740		740
4.100% (C)(F)		224		224
2.125%, 06/03/2026		173		162
CNAC HK Finbridge
5.125%, 03/14/2028		246		258
4.125%, 07/19/2027		1,363		1,364
3.875%, 06/19/2029		1,156		1,133
3.000%, 09/22/2030		561		514
Dianjian Haiyu
4.300% (C)(F)		204		206
Dianjian International Finance
4.600% (C)(F)		303		305
Huarong Finance II MTN
5.500%, 01/16/2025		440		444
Leader Goal International Ltd MTN
4.250% (C)(F)		212		213
Meituan
3.050%, 10/28/2030		204		164
Minmetals Bounteous Finance BVI
3.375% (C)(F)		805		795
Powerchina Roadbridge Group British Virgin Islands
3.080% (C)(F)		285		276
Prosus NV MTN
3.061%, 07/13/2031 (B)		907		753
Shimao Group Holdings
5.600%, 07/15/2026		1,949		551
5.200%, 01/30/2025 (A)		1,406		383
Sinopec Group Overseas Development 2018
2.700%, 05/13/2030		548		515
2.300%, 01/08/2031 (A)		863		777
Sunac China Holdings
7.000%, 07/09/2025		214		51
6.500%, 01/26/2026		206		47
Tencent Holdings Ltd MTN
3.240%, 06/03/2050 (B)		450		349
Wanda Properties International
7.250%, 01/29/2024		600		522
Wanda Properties Overseas
6.950%, 12/05/2022		200		176
6.875%, 07/23/2023		232		207
				91,323

44

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Colombia — 5.4%
Colombia Government International Bond
9.850%, 06/28/2027	COP	5,060,000	$	1,403
7.375%, 09/18/2037 (A)	$	260		292
6.125%, 01/18/2041		3,138		3,044
5.625%, 02/26/2044		132		120
5.200%, 05/15/2049		4,480		3,818
5.000%, 06/15/2045		3,730		3,139
4.500%, 03/15/2029		2,077		2,006
4.375%, 03/21/2023	COP	2,871,000		747
4.125%, 02/22/2042	$	4,369		3,413
3.875%, 04/25/2027		2,229		2,137
3.875%, 02/15/2061 (A)		1,413		1,008
3.250%, 04/22/2032 (A)		1,544		1,289
3.125%, 04/15/2031		639		541
3.000%, 01/30/2030		945		813
Colombian TES
10.000%, 07/24/2024	COP	9,907,300		2,709
9.250%, 05/28/2042		2,626,000		655
7.750%, 09/18/2030		13,333,400		3,170
7.500%, 08/26/2026		30,231,300		7,537
7.250%, 10/18/2034		23,719,200		5,175
7.250%, 10/26/2050		4,553,000		901
7.000%, 03/26/2031		32,656,900		7,324
7.000%, 03/26/2031		1,211,900		272
7.000%, 06/30/2032		17,149,200		3,770
6.250%, 11/26/2025		25,567,200		6,202
6.250%, 07/09/2036		5,569,900		1,078
6.000%, 04/28/2028		14,751,300		3,318
5.750%, 11/03/2027		22,928,000		5,163
3.000%, 03/25/2033		1,051,100		756
2.250%, 04/18/2029		883,500		661
Ecopetrol
6.875%, 04/29/2030	$	492		516
5.875%, 11/02/2051		346		294
Empresas Publicas de Medellin ESP (B)
8.375%, 11/08/2027	COP	2,351,000		545
7.625%, 09/10/2024		3,116,000		778
Financiera de Desarrollo Territorial Findeter
7.875%, 08/12/2024 (B)		1,127,000		285
7.875%, 08/12/2024		884,000		224
Geopark
5.500%, 01/17/2027 (B)	$	974		928
Gran Tierra Energy
7.750%, 05/23/2027 (B)		293		271
Grupo Aval
4.375%, 02/04/2030 (B)		812		703
SierraCol Energy Andina
6.000%, 06/15/2028 (B)		672		610
				77,615

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Costa Rica — 0.3%
Costa Rica Government International Bond
7.158%, 03/12/2045	$	1,660	$	1,647
7.158%, 03/12/2045		500		494
7.158%, 03/12/2045 (B)		387		384
7.000%, 04/04/2044		329		324
7.000%, 04/04/2044		230		225
6.125%, 02/19/2031 (A)		1,669		1,686
				4,760
Croatia — 0.1%
Croatia Government International Bond
1.500%, 06/17/2031	EUR	650		678
1.125%, 03/04/2033 (A)		1,002		988
				1,666
Czech Republic — 1.8%
Czech Republic Government Bond
4.200%, 12/04/2036	CZK	7,740		370
2.750%, 07/23/2029		91,430		3,877
2.500%, 08/25/2028		84,640		3,555
2.400%, 09/17/2025		165,160		7,016
2.000%, 10/13/2033		46,630		1,782
1.250%, 02/14/2025		48,060		1,997
1.200%, 03/13/2031		29,710		1,096
1.000%, 06/26/2026		81,400		3,241
0.950%, 05/15/2030		5,750		211
0.250%, 02/10/2027		45,080		1,703
0.050%, 11/29/2029		31,030		1,055
				25,903
Dominican Republic — 1.4%
Dominican Republic International Bond
9.750%, 06/05/2026	DOP	19,150		356
7.450%, 04/30/2044	$	1,135		1,197
7.450%, 04/30/2044 (B)		687		725
6.850%, 01/27/2045		1,386		1,372
6.500%, 02/15/2048 (A)		2,472		2,348
6.400%, 06/05/2049		1,026		959
6.000%, 02/22/2033		806		787
6.000%, 02/22/2033 (A)(B)		3,519		3,435
5.875%, 04/18/2024 (B)		71		73
5.875%, 01/30/2060		3,924		3,355
5.875%, 01/30/2060 (B)		75		64
5.500%, 02/22/2029 (B)		1,077		1,064
5.300%, 01/21/2041		2,844		2,467
4.500%, 01/30/2030 (A)		1,873		1,719
4.500%, 01/30/2030 (B)		206		189
				20,110
Ecuador — 1.2%
Ecuador Government International Bond
6.699%, 07/31/2030 (A)(B)(E)		1,613		895

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

45

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

Emerging Markets Debt Fund (Continued)

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
5.000%, 5.500%, 07/31/2022, 07/31/2030 (B)(D)	$	2,593	$	2,165
1.000%, 07/31/2035 (A)(E)		8,726		5,707
1.000%, 2.500%, 07/31/2022, 07/31/2035 (A)(B)(D)		8,583		5,614
0.500%, 1.500%, 07/31/2022, 07/31/2040 (B)(D)		3,702		2,110
0.500%, 07/31/2040 (A)(E)		2,045		1,165
				17,656
Egypt — 2.7%
Egypt Government Bond
14.664%, 10/06/2030	EGP	4,750		250
14.556%, 10/13/2027		11,537		593
14.483%, 04/06/2026		103,070		5,376
14.406%, 07/07/2027		17,842		906
14.382%, 01/12/2031		9,502		492
14.292%, 01/05/2028		19,000		971
14.196%, 07/07/2023		6,084		333
14.060%, 01/12/2026		44,207		2,291
Egypt Government International Bond
16.300%, 04/09/2024		15,034		841
16.100%, 05/07/2029		14,920		849
8.875%, 05/29/2050	$	1,650		1,425
8.875%, 05/29/2050 (B)		3,827		3,306
8.700%, 03/01/2049 (B)		1,526		1,302
8.700%, 03/01/2049		600		512
7.903%, 02/21/2048 (A)		2,512		2,035
7.903%, 02/21/2048 (B)		110		89
7.625%, 05/29/2032 (B)		2,092		1,893
7.625%, 05/29/2032 (A)		2,302		2,083
Egypt Government International Bond MTN
8.500%, 01/31/2047		2,970		2,527
8.150%, 11/20/2059 (B)		406		334
8.150%, 11/20/2059		277		228
7.600%, 03/01/2029 (B)		1,167		1,107
7.600%, 03/01/2029		200		190
7.500%, 02/16/2061 (A)		565		448
7.300%, 09/30/2033 (A)(B)		2,279		1,988
7.300%, 09/30/2033		647		564
7.053%, 01/15/2032 (B)		547		480
6.375%, 04/11/2031	EUR	2,060		1,958
5.800%, 09/30/2027	$	724		662
5.800%, 09/30/2027 (B)		498		455
5.625%, 04/16/2030 (A)	EUR	732		684
4.750%, 04/11/2025		457		484
4.750%, 04/11/2025 (B)		443		470
4.750%, 04/16/2026		670		686
				38,812
El Salvador — 0.4%
El Salvador Government International Bond
9.500%, 07/15/2052	$	3,753		1,811

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
8.625%, 02/28/2029 (A)	$	249	$	120
7.750%, 01/24/2023 (A)		1,630		1,326
7.650%, 06/15/2035 (A)(B)		149		70
7.625%, 02/01/2041 (B)		545		251
7.625%, 02/01/2041		527		242
7.125%, 01/20/2050		640		285
6.375%, 01/18/2027 (B)		838		411
5.875%, 01/30/2025		1,398		774
5.875%, 01/30/2025 (B)		93		51
				5,341
Ethiopia — 0.0%
Ethiopia International Bond
6.625%, 12/11/2024		400		288
6.625%, 12/11/2024 (B)		296		213
				501
Gabon — 0.1%
Gabon Government International Bond
7.000%, 11/24/2031 (B)		1,566		1,502
6.625%, 02/06/2031 (B)		400		379
6.625%, 02/06/2031 (A)		240		227
				2,108
Georgia — 0.1%
Georgia Government International Bond
2.750%, 04/22/2026 (B)		499		422
2.750%, 04/22/2026 (A)		480		406
				828
Ghana — 1.1%
Ghana Government International Bond
10.750%, 10/14/2030		3,054		3,218
8.950%, 03/26/2051 (B)		613		426
8.875%, 05/07/2042		1,286		895
8.875%, 05/07/2042 (B)		426		297
8.750%, 03/11/2061 (B)		77		53
8.750%, 03/11/2061		693		479
8.627%, 06/16/2049 (B)		593		412
8.625%, 04/07/2034 (A)		3,559		2,527
8.125%, 03/26/2032 (B)		160		115
7.875%, 03/26/2027 (B)		525		407
7.875%, 02/11/2035 (A)		714		497
7.875%, 02/11/2035 (B)		1,464		1,019
7.750%, 04/07/2029 (B)		413		302
7.750%, 04/07/2029		1,070		782
7.625%, 05/16/2029		995		720
7.625%, 05/16/2029 (A)(B)		908		657
6.375%, 02/11/2027		977		731
6.375%, 02/11/2027 (B)		451		338
Republic of Ghana Government Bonds
20.750%, 03/06/2023	GHS	1,920		262
19.250%, 12/18/2023		4,011		530

46

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Tullow Oil (B)
10.250%, 05/15/2026	$	351	$	358
7.000%, 03/01/2025		1,241		1,024
				16,049
Guatemala — 0.4%
CT Trust
5.125%, 02/03/2032 (B)		962		961
Guatemala Government Bond
6.125%, 06/01/2050		168		176
5.375%, 04/24/2032		825		862
5.375%, 04/24/2032 (B)		248		259
4.900%, 06/01/2030		1,501		1,528
4.650%, 10/07/2041 (B)		845		786
4.650%, 10/07/2041		210		195
4.500%, 05/03/2026		649		658
3.700%, 10/07/2033		700		648
3.700%, 10/07/2033 (B)		226		209
				6,282
Honduras — 0.1%
Honduras Government International Bond
6.250%, 01/19/2027 (A)		326		310
6.250%, 01/19/2027 (A)		–		–
5.625%, 06/24/2030		558		505
				815
Hong Kong — 0.1%
NWD
4.125%, 07/18/2029		757		689
Hungary — 0.9%
Hungary Government Bond
5.500%, 06/24/2025	HUF	338,870		999
4.000%, 04/28/2051		124,570		268
3.250%, 10/22/2031		325,910		793
3.000%, 10/27/2027		774,070		1,978
3.000%, 08/21/2030		146,200		357
3.000%, 10/27/2038		138,140		289
2.750%, 12/22/2026		675,760		1,742
2.250%, 04/20/2033		36,320		77
2.250%, 06/22/2034		84,940		174
1.500%, 04/22/2026		188,890		473
Hungary Government International Bond
3.125%, 09/21/2051 (B)	$	1,687		1,412
3.125%, 09/21/2051 (A)		1,000		837
2.125%, 09/22/2031 (B)		3,475		3,141
1.750%, 06/05/2035	EUR	265		275
1.500%, 11/17/2050		255		214
				13,029
India — 0.3%
Adani Electricity Mumbai
3.949%, 02/12/2030 (B)	$	540		488

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Export-Import Bank of India MTN
3.250%, 01/15/2030	$	1,060	$	1,001
2.250%, 01/13/2031		615		527
Network i2i
5.650%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.277% (B)(C)(F)		260		257
Power Finance MTN
3.950%, 04/23/2030 (B)		569		543
Reliance Industries (B)
3.625%, 01/12/2052		671		595
2.875%, 01/12/2032		800		734
Vedanta Resources
7.125%, 05/31/2023		200		189
6.375%, 07/30/2022		350		340
Vedanta Resources Finance II
13.875%, 01/21/2024 (B)		286		299
				4,973
Indonesia — 6.4%
Indonesia Asahan Aluminium Persero
6.757%, 11/15/2048 (B)		365		408
6.757%, 11/15/2048		257		287
5.800%, 05/15/2050 (B)		1,165		1,165
5.710%, 11/15/2023 (B)		618		639
4.750%, 05/15/2025 (B)		240		245
Indonesia Government International Bond
9.000%, 03/15/2029	IDR	42,750,000		3,353
8.500%, 10/12/2035	$	1,459		2,080
8.375%, 03/15/2024	IDR	20,173,000		1,508
8.375%, 04/15/2039		44,256,000		3,400
8.250%, 05/15/2029		66,706,000		5,055
8.250%, 06/15/2032		12,030,000		919
8.250%, 05/15/2036		78,289,000		5,921
8.125%, 05/15/2024		77,240,000		5,774
7.750%, 01/17/2038	$	1,089		1,491
7.500%, 08/15/2032	IDR	26,770,000		1,938
7.500%, 05/15/2038		26,236,000		1,868
7.000%, 05/15/2022		40,233,000		2,815
7.000%, 05/15/2027		49,663,000		3,622
6.125%, 05/15/2028		13,191,000		906
5.625%, 05/15/2023		1,885,000		134
5.250%, 01/08/2047 (B)	$	170		194
4.750%, 02/11/2029		119		131
3.550%, 03/31/2032		249		256
3.500%, 01/11/2028		1,859		1,905
3.200%, 09/23/2061 (A)		772		649
3.050%, 03/12/2051 (A)		1,787		1,615
2.850%, 02/14/2030		2,929		2,879
2.150%, 07/28/2031 (A)		1,545		1,425
1.300%, 03/23/2034	EUR	514		498
1.100%, 03/12/2033		690		668

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

47

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

Emerging Markets Debt Fund (Continued)

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Indonesia Government International Bond MTN
5.250%, 01/17/2042	$	3,460	$	3,858
5.125%, 01/15/2045		210		232
4.625%, 04/15/2043		605		631
3.750%, 06/14/2028	EUR	1,057		1,272
Indonesia Treasury Bond
8.750%, 05/15/2031	IDR	67,799,000		5,339
8.375%, 03/15/2034		95,871,000		7,312
7.500%, 06/15/2035		14,896,000		1,064
7.500%, 04/15/2040		17,705,000		1,255
7.125%, 06/15/2042		6,189,000		424
7.000%, 09/15/2030		32,210,000		2,281
6.500%, 06/15/2025		13,731,000		995
6.500%, 02/15/2031		31,486,000		2,155
6.375%, 04/15/2032		17,804,000		1,204
Medco Bell Pte
6.375%, 01/30/2027 (A)(B)	$	466		450
Minejesa Capital BV (B)
5.625%, 08/10/2037		297		270
4.625%, 08/10/2030		386		366
Pertamina Persero
2.300%, 02/09/2031 (A)(B)		1,375		1,210
Pertamina Persero MTN
6.450%, 05/30/2044		327		382
3.650%, 07/30/2029 (B)		1,035		1,022
Perusahaan Listrik Negara
1.875%, 11/05/2031 (B)	EUR	891		866
Perusahaan Listrik Negara MTN
6.150%, 05/21/2048	$	740		825
6.150%, 05/21/2048 (B)		657		732
4.375%, 02/05/2050 (B)		265		242
Perusahaan Penerbit SBSN Indonesia III
4.325%, 05/28/2025		1,770		1,848
Perusahaan Perseroan Persero Perusahaan Listrik Negara MTN
5.250%, 05/15/2047		480		478
3.375%, 02/05/2030		750		701
3.000%, 06/30/2030		565		515
				91,677
Iraq — 0.1%
Iraq International Bond
5.800%, 01/15/2028		937		914
Israel — 0.1%
Bank Leumi Le-Israel
3.275%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 1.631%, 01/29/2031 (B)(C)		431		404
Leviathan Bond
6.750%, 06/30/2030 (B)		394		404

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
State of Israel
4.500%, 04/03/2120	$	1,200	$	1,282
				2,090
Ivory Coast — 0.4%
Ivory Coast Government International Bond
6.875%, 10/17/2040	EUR	1,619		1,634
6.625%, 03/22/2048		481		466
6.625%, 03/22/2048 (A)		2,849		2,761
5.875%, 10/17/2031 (B)		205		211
5.750%, 12/31/2032	$	401		393
5.250%, 03/22/2030	EUR	321		330
				5,795
Jamaica — 0.1%
Digicel International Finance (B)
8.750%, 05/25/2024	$	530		527
8.750%, 05/25/2024		435		433
				960
Jordan — 0.2%
Jordan Government International Bond
7.375%, 10/10/2047 (A)		1,237		1,123
7.375%, 10/10/2047 (B)		228		207
5.850%, 07/07/2030 (B)		559		520
4.950%, 07/07/2025		270		269
				2,119
Kazakhstan — 1.2%
Development Bank of Kazakhstan JSC
4.125%, 12/10/2022		770		751
2.950%, 05/06/2031		530		433
2.950%, 05/06/2031 (B)		465		380
Kazakhstan Government International Bond
4.875%, 10/14/2044 (A)		1,204		1,184
4.875%, 10/14/2044 (B)		318		313
Kazakhstan Government International Bond MTN
2.375%, 11/09/2028	EUR	350		355
KazMunayGas National JSC
6.375%, 10/24/2048 (B)	$	1,746		1,645
6.375%, 10/24/2048		200		188
5.750%, 04/19/2047 (B)		1,852		1,637
5.750%, 04/19/2047 (A)		63		56
5.375%, 04/24/2030 (B)		984		944
5.375%, 04/24/2030 (A)		4,863		4,668
3.500%, 04/14/2033 (A)		1,271		1,055
KazTransGas JSC
4.375%, 09/26/2027 (A)		1,815		1,639
4.375%, 09/26/2027 (B)		165		149
Tengizchevroil Finance International
3.250%, 08/15/2030 (B)		450		367
2.625%, 08/15/2025		1,071		943
				16,707

48

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Kenya — 0.3%
Kenya Government International Bond
8.250%, 02/28/2048	$	1,838	$	1,632
8.000%, 05/22/2032 (A)		1,471		1,426
7.000%, 05/22/2027 (A)		1,394		1,341
7.000%, 05/22/2027 (B)		200		192
				4,591
Kuwait — 0.1%
Meglobal Canada ULC MTN
5.875%, 05/18/2030 (B)		222		246
NBK SPC
1.625%, U.S. SOFR + 1.050%, 09/15/2027 (B)(C)		680		621
NBK Tier 1 Financing 2
4.500%, CMTUSD6Y + 2.832% (B)(C)(F)		513		499
				1,366
Lebanon — 0.5%
Lebanon Government International Bond
8.250%, 05/17/2034 (G)		7,412		769
8.200%, 05/17/2033 (G)		2,700		280
6.850%, 03/23/2027 (G)		742		88
6.750%, 11/29/2027 (G)		1,123		131
6.650%, 04/22/2024 (G)		2,250		264
6.000%, 01/27/2023 (G)		560		65
Lebanon Government International Bond MTN
8.250%, 12/31/2023 (G)		10,523		1,310
7.000%, 03/20/2028 (G)		2,048		222
6.850%, 05/25/2029 (G)		1,996		239
6.650%, 02/26/2030 (G)		3,095		360
6.600%, 11/27/2026 (G)		1,613		192
6.400%, 05/26/2023 (G)		2,649		321
6.375%, 12/31/2023 (G)		4,517		525
6.150%, 12/31/2023 (G)		5,287		628
6.100%, 10/04/2022 (G)		7,015		851
6.100%, 10/04/2022 (G)		569		69
5.800%, 04/14/2023 (G)		5,839		694
				7,008
Luxembourg — 0.0%
Millicom International Cellular
6.250%, 03/25/2029 (B)		403		427
Macau — 0.0%
Studio City Finance (B)
6.500%, 01/15/2028		371		321
6.000%, 07/15/2025		87		80
				401

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Malaysia — 6.9%
1MDB Energy
5.990%, 05/11/2022	$	1,000	$	998
1MDB Global Investments
4.400%, 03/09/2023		4,000		3,910
4.400%, 03/09/2023		7,400		7,234
Malaysia Government Bond
5.248%, 09/15/2028	MYR	1,517		390
4.935%, 09/30/2043		2,200		550
4.921%, 07/06/2048		3,070		768
4.642%, 11/07/2033		500		124
4.392%, 04/15/2026		3,480		858
4.254%, 05/31/2035		17,799		4,218
4.232%, 06/30/2031		1,200		289
4.181%, 07/15/2024		20,513		5,012
4.065%, 06/15/2050		3,119		684
4.059%, 09/30/2024		9,827		2,400
3.955%, 09/15/2025		35,693		8,685
3.906%, 07/15/2026		17,274		4,175
3.900%, 11/30/2026		4,085		991
3.899%, 11/16/2027		3,026		732
3.885%, 08/15/2029		25,868		6,119
3.828%, 07/05/2034		32,019		7,303
3.800%, 08/17/2023		31,953		7,757
3.795%, 09/30/2022		3,200		769
3.757%, 04/20/2023		14,611		3,534
3.757%, 05/22/2040		18,730		4,052
3.733%, 06/15/2028		23,341		5,532
3.582%, 07/15/2032		3,907		905
3.502%, 05/31/2027		7,626		1,800
3.480%, 03/15/2023		14,230		3,426
3.478%, 06/14/2024		6,671		1,606
3.418%, 08/15/2022		10,200		2,440
2.632%, 04/15/2031		22,321		4,755
Malaysia Government Investment Issue
4.369%, 10/31/2028		1,200		295
4.119%, 11/30/2034		5,564		1,300
4.070%, 09/30/2026		6,500		1,580
Malaysia Wakala Sukuk
2.070%, 04/28/2031	$	1,230		1,152
Petronas Capital MTN
4.550%, 04/21/2050		1,401		1,543
3.500%, 04/21/2030		819		833
2.480%, 01/28/2032		1,466		1,362
				100,081
Mexico — 9.0%
America Movil
7.125%, 12/09/2024	MXN	18,110		856
5.375%, 04/04/2032 (B)	$	1,005		1,005
Banco Mercantil del Norte (B)(F)
7.500%, US Treas Yield Curve Rate T Note Const Mat 10 Yr + 5.470% (C)		476		467

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

49

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

Emerging Markets Debt Fund (Continued)

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
6.750%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.967% (C)	$	609	$	598
Banco Nacional de Comercio Exterior SNC
2.720%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 2.000%, 08/11/2031 (B)(C)		1,191		1,130
Cemex (B)
5.450%, 11/19/2029		750		758
5.125%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.534% (C)(F)		200		196
3.875%, 07/11/2031 (A)		572		522
Comision Federal de Electricidad
7.350%, 11/25/2025	MXN	39,785		1,816
6.264%, 02/15/2052 (B)	$	871		849
5.750%, 02/14/2042 (B)		500		472
4.750%, 02/23/2027 (B)		258		264
4.688%, 05/15/2029 (B)		3,947		3,868
3.348%, 02/09/2031 (B)		391		342
FEL Energy VI Sarl
5.750%, 12/01/2040 (B)		191		171
Mexican Bonos
8.000%, 11/07/2047	MXN	65,574		3,133
7.750%, 11/13/2042		123,617		5,776
7.500%, 06/03/2027		167,383		8,056
5.750%, 03/05/2026 (A)		48,685		2,220
Mexican Bonos, Ser M20
10.000%, 12/05/2024		118,927		6,177
8.500%, 05/31/2029		104,935		5,296
7.750%, 05/29/2031		318,978		15,411
Mexican Bonos, Ser M30
8.500%, 11/18/2038		200,318		10,195
Mexican Udibonos
4.500%, 12/04/2025		130,043		6,751
3.500%, 11/16/2023		172,908		8,715
Mexico City Airport Trust
5.500%, 07/31/2047 (B)	$	715		630
Mexico Government International Bond
5.000%, 04/27/2051 (A)		452		457
4.750%, 04/27/2032 (A)		805		853
4.600%, 02/10/2048		394		375
4.350%, 01/15/2047 (A)		1,056		975
4.280%, 08/14/2041		1,402		1,307
3.771%, 05/24/2061		757		612
3.750%, 04/19/2071		1,345		1,071
3.500%, 02/12/2034		3,827		3,557
2.659%, 05/24/2031 (A)		2,692		2,450
Mexico Government International Bond MTN
5.750%, 10/12/2110		2,756		2,792
4.750%, 03/08/2044		386		379

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Minera Mexico
4.500%, 01/26/2050 (B)	$	627	$	587
Petroleos Mexicanos
7.690%, 01/23/2050		4,754		4,154
7.690%, 01/23/2050 (B)		427		373
7.470%, 11/12/2026	MXN	15,660		698
7.190%, 09/12/2024		45,182		2,130
6.950%, 01/28/2060	$	159		129
6.950%, 01/28/2060 (B)		308		250
6.700%, 02/16/2032 (B)		2,970		2,821
6.700%, 02/16/2032		137		130
6.625%, 06/15/2035 (A)		6,063		5,434
6.500%, 01/23/2029 (B)		785		778
6.500%, 06/02/2041		1,540		1,277
6.375%, 01/23/2045		1,059		847
6.350%, 02/12/2048		678		533
6.350%, 02/12/2048 (B)		430		338
5.950%, 01/28/2031		1,490		1,375
5.950%, 01/28/2031 (B)		540		498
5.950%, 01/28/2031 (A)		–		–
5.350%, 02/12/2028 (B)		279		266
Petroleos Mexicanos MTN
6.750%, 09/21/2047		2,144		1,743
6.750%, 09/21/2047		553		449
4.875%, 02/21/2028	EUR	755		798
Poinsettia Finance
6.625%, 06/17/2031	$	4,535		4,430
				130,540
Mongolia — 0.4%
Development Bank of Mongolia
7.250%, 10/23/2023 (B)		784		791
Mongolia Government International Bond
5.125%, 04/07/2026		381		374
3.500%, 07/07/2027		1,566		1,409
Mongolia Government International Bond MTN
8.750%, 03/09/2024		2,651		2,816
				5,390
Morocco — 0.1%
Morocco Government International Bond
5.500%, 12/11/2042		200		196
4.000%, 12/15/2050		673		538
3.000%, 12/15/2032 (A)		1,269		1,098
OCP
3.750%, 06/23/2031 (B)		202		183
				2,015
Mozambique — 0.1%
Mozambique International Bond
5.000%, 9.000%, 09/15/2023, 09/15/2031 (B)(D)		1,122		963

50

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
5.000%, 9.000%, 09/15/2023, 09/15/2031 (D)	$	200	$	172
				1,135
Nigeria — 1.1%
IHS Netherlands Holdco
8.000%, 09/18/2027 (B)		299		298
Nigeria Government International Bond
9.248%, 01/21/2049 (A)		322		307
7.875%, 02/16/2032 (A)		3,965		3,748
7.696%, 02/23/2038 (A)		1,811		1,580
7.696%, 02/23/2038 (B)		601		524
Nigeria Government International Bond MTN
8.375%, 03/24/2029 (A)(B)		2,985		3,014
8.375%, 03/24/2029		300		303
8.250%, 09/28/2051 (B)		2,230		1,938
7.625%, 11/28/2047 (B)		478		397
7.375%, 09/28/2033		2,086		1,894
7.375%, 09/28/2033 (B)		799		725
6.500%, 11/28/2027 (B)		667		634
6.500%, 11/28/2027		130		123
				15,485
Oman — 1.2%
Oman Government International Bond
7.375%, 10/28/2032 (B)		701		802
7.000%, 01/25/2051 (B)		448		458
7.000%, 01/25/2051		200		205
6.750%, 10/28/2027 (A)		3,535		3,844
6.750%, 01/17/2048 (B)		1,089		1,086
6.750%, 01/17/2048 (A)		3,609		3,600
6.500%, 03/08/2047 (B)		1,823		1,784
6.250%, 01/25/2031		1,768		1,871
6.250%, 01/25/2031 (A)(B)		324		343
4.750%, 06/15/2026		900		903
Oman Government International Bond MTN
6.000%, 08/01/2029 (B)		1,051		1,095
6.000%, 08/01/2029 (A)		392		409
4.875%, 02/01/2025 (B)		449		458
				16,858
Pakistan — 0.3%
Pakistan Government International Bond
8.250%, 09/30/2025		1,000		827
7.875%, 03/31/2036		200		138
6.875%, 12/05/2027		749		589
Pakistan Government International Bond MTN
8.875%, 04/08/2051		1,138		790
7.375%, 04/08/2031		1,415		1,055
6.000%, 04/08/2026		1,094		859

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
6.000%, 04/08/2026 (B)	$	843	$	662
				4,920
Panama — 1.2%
Aeropuerto Internacional de Tocumen
5.125%, 08/11/2061 (B)		311		283
AES Panama Generation Holdings SRL
4.375%, 05/31/2030 (B)		492		469
Banco Nacional de Panama
2.500%, 08/11/2030 (A)(B)		791		698
Cable Onda
4.500%, 01/30/2030 (B)		208		203
Empresa de Transmision Electrica
5.125%, 05/02/2049 (B)		635		641
Panama Government International Bond
9.375%, 04/01/2029 (A)		804		1,086
8.125%, 04/28/2034		478		660
4.500%, 04/01/2056		1,177		1,150
4.500%, 04/16/2050		136		134
4.500%, 01/19/2063		1,357		1,302
4.300%, 04/29/2053		200		192
3.870%, 07/23/2060		2,432		2,127
3.750%, 03/16/2025		859		874
3.298%, 01/19/2033		1,380		1,318
3.160%, 01/23/2030 (A)		1,762		1,724
2.252%, 09/29/2032 (A)		5,266		4,654
				17,515
Papua New Guinea — 0.0%
Papua New Guinea Government International Bond
8.375%, 10/04/2028		282		242
8.375%, 10/04/2028 (B)		275		236
				478
Paraguay — 0.4%
Bioceanico Sovereign Certificate Ltd
0.000%, 06/05/2034 (E)		1,639		1,191
Paraguay Government International Bond
6.100%, 08/11/2044		1,260		1,394
5.600%, 03/13/2048		200		205
5.400%, 03/30/2050		571		578
4.950%, 04/28/2031		880		920
2.739%, 01/29/2033		1,074		950
				5,238
Peru — 2.8%
ABY Transmision Sur
6.875%, 04/30/2043 (B)		261		313
Fondo MIVIVIENDA
7.000%, 02/14/2024 (B)	PEN	3,704		1,005
Inkia Energy
5.875%, 11/09/2027 (B)	$	359		346

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

51

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

Emerging Markets Debt Fund (Continued)

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Kallpa Generacion (B)
4.875%, 05/24/2026	$	263	$	270
4.125%, 08/16/2027 (A)		936		936
Peru Government Bond
6.950%, 08/12/2031	PEN	2,780		767
5.350%, 08/12/2040		708		157
5.200%, 09/12/2023		800		218
Peruvian Government International Bond
8.750%, 11/21/2033	$	490		709
8.200%, 08/12/2026	PEN	15		4
8.200%, 08/12/2026		3,397		987
6.950%, 08/12/2031		15,522		4,282
6.950%, 08/12/2031		154		42
6.900%, 08/12/2037		7,222		1,917
6.850%, 02/12/2042		613		160
6.350%, 08/12/2028		5,940		1,594
6.350%, 08/12/2028		2,615		702
6.150%, 08/12/2032		8,708		2,257
5.940%, 02/12/2029		3,050		795
5.700%, 08/12/2024 (B)		4,932		1,341
5.625%, 11/18/2050	$	417		529
5.400%, 08/12/2034	PEN	1,243		293
5.400%, 08/12/2034		7,865		1,854
3.750%, 03/01/2030	EUR	200		248
3.600%, 01/15/2072	$	326		280
3.230%, 07/28/2121		2,903		2,204
3.000%, 01/15/2034 (A)		1,768		1,648
2.844%, 06/20/2030		173		166
2.783%, 01/23/2031		4,863		4,579
1.950%, 11/17/2036	EUR	1,050		1,012
1.250%, 03/11/2033		2,088		2,004
Petroleos del Peru
5.625%, 06/19/2047 (B)	$	917		770
5.625%, 06/19/2047		5,307		4,458
4.750%, 06/19/2032 (B)		1,201		1,075
4.750%, 06/19/2032		754		675
				40,597
Philippines — 0.7%
Philippine Government International Bond
5.000%, 01/13/2037		519		580
3.900%, 11/26/2022	PHP	45,000		864
3.700%, 03/01/2041 (A)	$	714		691
3.200%, 07/06/2046		605		540
3.000%, 02/01/2028		471		473
2.950%, 05/05/2045		309		267
2.650%, 12/10/2045		1,071		880
1.950%, 01/06/2032		5,000		4,535
1.750%, 04/28/2041	EUR	402		380
1.648%, 06/10/2031	$	1,728		1,538
				10,748

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Poland — 1.4%
Republic of Poland Government Bond
2.750%, 04/25/2028	PLN	5,935	$	1,228
2.500%, 04/25/2024		5,096		1,154
2.500%, 07/25/2026		26,907		5,684
2.500%, 07/25/2027 (A)		32,450		6,731
1.750%, 04/25/2032 (A)		16,065		2,839
1.250%, 10/25/2030		4,084		721
0.250%, 10/25/2026		5,980		1,135
				19,492
Qatar — 1.5%
Ooredoo International Finance MTN
2.625%, 04/08/2031 (B)	$	363		340
Qatar Energy
3.300%, 07/12/2051 (B)		234		215
3.125%, 07/12/2041 (B)		292		266
3.125%, 07/12/2041 (A)		274		249
2.250%, 07/12/2031		2,776		2,554
2.250%, 07/12/2031 (A)(B)		705		649
Qatar Government International Bond
6.400%, 01/20/2040 (B)		547		731
5.103%, 04/23/2048		567		693
5.103%, 04/23/2048 (B)		3,521		4,305
4.817%, 03/14/2049 (B)		1,036		1,228
4.817%, 03/14/2049 (A)		2,837		3,361
4.400%, 04/16/2050 (A)		1,548		1,740
4.400%, 04/16/2050 (A)(B)		878		987
4.000%, 03/14/2029 (B)		759		810
3.750%, 04/16/2030		3,181		3,356
				21,484
Romania — 1.6%
Romania Government Bond
5.850%, 04/26/2023	RON	1,720		391
4.750%, 10/11/2034		870		171
4.400%, 09/25/2023		790		176
4.150%, 01/26/2028		2,145		439
4.150%, 10/24/2030		2,875		564
4.000%, 10/25/2023		3,430		757
3.650%, 07/28/2025		12,120		2,553
3.650%, 09/24/2031		5,510		1,026
Romanian Government International Bond
5.000%, 02/12/2029		8,095		1,712
4.250%, 06/28/2023		2,730		609
4.000%, 02/14/2051 (A)	$	1,464		1,264
3.625%, 03/27/2032 (B)		1,168		1,101
3.000%, 02/27/2027 (B)		660		640
2.750%, 04/14/2041 (B)	EUR	983		835
2.625%, 12/02/2040 (B)		296		250
2.000%, 04/14/2033 (B)		179		160

52

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Romanian Government International Bond MTN
4.625%, 04/03/2049 (A)	EUR	1,419	$	1,548
4.125%, 03/11/2039		613		638
3.875%, 10/29/2035		1,700		1,770
3.750%, 02/07/2034 (B)		988		1,024
3.750%, 02/07/2034		730		757
3.375%, 02/08/2038 (B)		890		855
3.375%, 01/28/2050		2,100		1,867
2.875%, 04/13/2042		297		253
2.875%, 04/13/2042 (B)		260		221
2.500%, 02/08/2030 (B)		657		674
2.124%, 07/16/2031		158		150
2.000%, 01/28/2032		40		37
2.000%, 04/14/2033 (A)		990		884
				23,326
Russia — 0.3%
Gazprom OAO Via Gaz Capital
4.950%, 02/06/2028 (B)	$	497		214
Gazprom PJSC via Gaz Finance
4.599%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 4.264% (B)(C)(F)		774		161
Gtlk Europe Capital DAC
4.650%, 03/10/2027		392		82
Russian Federal Bond - OFZ
8.500%, 09/17/2031	RUB	118,055		43
8.150%, 02/03/2027		799,924		291
7.950%, 10/07/2026		267,449		98
7.750%, 09/16/2026		62,302		22
7.700%, 03/23/2033		98,296		36
7.700%, 03/16/2039		105,608		39
7.650%, 04/10/2030		7,375		3
7.250%, 05/10/2034		85,825		31
7.100%, 10/16/2024		41,950		15
7.050%, 01/19/2028		450,860		164
7.000%, 08/16/2023		48,857		18
7.000%, 07/30/2036		86,250		31
6.900%, 05/23/2029		128,640		47
6.900%, 07/23/2031		368,850		134
6.700%, 03/14/2029		448,334		163
6.100%, 07/18/2035		74,413		27
6.000%, 10/06/2027		16,284		6
4.500%, 07/16/2025		633,644		231
Russian Federal Inflation Linked Bond
2.500%, 07/17/2030		30,347		11
Russian Foreign Bond - Eurobond
12.750%, 06/24/2028	$	200		80
7.500%, 03/31/2030		1		–
5.250%, 06/23/2047		2,600		585
5.100%, 03/28/2035		3,600		630
4.375%, 03/21/2029		7,400		1,332

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Vnesheconombank Via VEB Finance
6.800%, 11/22/2025	$	580	$	29
6.800%, 11/22/2025 (B)		150		8
				4,531
Saudi Arabia — 1.3%
EIG Pearl Holdings Sarl (B)
4.387%, 11/30/2046		822		769
3.545%, 08/31/2036		657		626
Global Sukuk
1.602%, 06/17/2026 (A)		1,680		1,579
KSA Sukuk
2.250%, 05/17/2031 (B)		1,716		1,614
Saudi Arabian Oil
1.625%, 11/24/2025		703		667
Saudi Arabian Oil MTN
4.250%, 04/16/2039 (B)		920		942
4.250%, 04/16/2039 (A)		160		164
Saudi Government International Bond
5.250%, 01/16/2050 (A)		680		803
Saudi Government International Bond MTN
5.000%, 04/17/2049 (B)		200		227
4.625%, 10/04/2047 (B)		3,598		3,860
4.500%, 10/26/2046 (B)		663		697
4.500%, 10/26/2046		580		610
4.000%, 04/17/2025 (A)		–		–
3.450%, 02/02/2061		1,061		941
3.250%, 10/26/2026 (B)		1,497		1,532
3.250%, 10/22/2030 (A)		1,258		1,269
3.250%, 11/17/2051 (B)		1,380		1,215
2.250%, 02/02/2033 (B)		1,268		1,167
				18,682
Senegal — 0.2%
Senegal Government International Bond
6.750%, 03/13/2048		1,959		1,689
5.375%, 06/08/2037	EUR	668		630
5.375%, 06/08/2037 (B)		152		143
4.750%, 03/13/2028 (B)		113		122
				2,584
Serbia — 0.3%
Serbia International Bond
3.125%, 05/15/2027		320		346
2.125%, 12/01/2030 (A)	$	917		764
1.650%, 03/03/2033	EUR	270		235
1.500%, 06/26/2029		1,123		1,058
Serbia International Bond MTN
2.050%, 09/23/2036		1,141		975
Serbia Treasury Bonds
5.875%, 02/08/2028	RSD	22,990		217
4.500%, 01/11/2026		15,250		139
				3,734

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

53

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

Emerging Markets Debt Fund (Continued)

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
South Africa — 5.9%
Bidvest Group UK PLC
3.625%, 09/23/2026 (B)	$	344	$	321
Eskom Holdings SOC
7.125%, 02/11/2025 (B)		2,948		2,841
4.314%, 07/23/2027 (A)		1,189		1,118
Eskom Holdings SOC MTN
8.450%, 08/10/2028 (B)		619		602
7.500%, 09/15/2033	ZAR	35,200		1,838
6.750%, 08/06/2023 (B)	$	1,063		1,045
6.750%, 08/06/2023		846		832
Republic of South Africa
10.500%, 12/21/2026	ZAR	120,559		8,991
9.000%, 01/31/2040		52,116		3,114
8.875%, 02/28/2035		162,733		10,003
8.750%, 01/31/2044		130,353		7,512
8.750%, 02/28/2048		170,661		9,782
8.500%, 01/31/2037		176,070		10,270
8.250%, 03/31/2032		86,172		5,262
8.000%, 01/31/2030		62,033		3,875
7.000%, 02/28/2031		57,222		3,264
6.500%, 02/28/2041		23,055		1,056
6.300%, 06/22/2048	$	540		509
6.250%, 03/31/2036	ZAR	73,304		3,531
5.875%, 09/16/2025 (A)	$	341		361
5.750%, 09/30/2049		4,557		3,976
5.650%, 09/27/2047		946		825
5.000%, 10/12/2046 (A)		357		296
4.850%, 09/27/2027		420		422
4.850%, 09/30/2029		1,976		1,931
Sasol Financing USA
6.500%, 09/27/2028		360		366
5.875%, 03/27/2024		442		448
4.375%, 09/18/2026		351		335
				84,726
South Korea — 0.1%
Export-Import Bank of Korea MTN
8.000%, 05/15/2024	IDR	8,800,000		644
7.250%, 12/07/2024		700,000		51
5.750%, 03/05/2024		12,200,000		856
				1,551
Spain — 0.1%
AI Candelaria Spain
7.500%, 12/15/2028 (B)	$	975		958
Sri Lanka — 0.6%
Sri Lanka Government International Bond
7.850%, 03/14/2029		1,598		759
7.550%, 03/28/2030		1,255		584
6.850%, 03/14/2024		512		252
6.850%, 11/03/2025 (G)		1,339		651

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
6.825%, 07/18/2026 (B)	$	909	$	437
6.825%, 07/18/2026		500		240
6.750%, 04/18/2028		3,078		1,444
6.750%, 04/18/2028 (A)(B)		5,532		2,595
6.350%, 06/28/2024 (B)		864		426
6.200%, 05/11/2027		1,186		557
5.750%, 04/18/2023		434		214
				8,159
Supra-National — 0.6%
Africa Finance
2.875%, 04/28/2028 (B)		1,679		1,545
African Export-Import Bank
3.798%, 05/17/2031 (B)		200		184
African Export-Import Bank MTN
3.994%, 09/21/2029 (B)		363		344
Banque Ouest Africaine de Developpement
5.000%, 07/27/2027 (B)		865		871
4.700%, 10/22/2031 (B)		683		674
4.700%, 10/22/2031		280		276
European Bank for Reconstruction & Development MTN
6.450%, 12/13/2022	IDR	9,486,000		673
5.200%, 05/28/2024		11,593,600		808
Inter-American Development Bank MTN
7.875%, 03/14/2023		44,650,000		3,216
				8,591
Taiwan — 0.0%
TSMC Arizona
3.250%, 10/25/2051	$	220		199
2.500%, 10/25/2031		200		185
				384
Tanzania — 0.0%
AngloGold Ashanti Holdings
3.750%, 10/01/2030		229		214
Thailand — 2.3%
Thailand Government Bond
5.670%, 03/13/2028	THB	3,000		109
3.775%, 06/25/2032		181,773		6,087
3.650%, 06/20/2031		58,000		1,935
3.625%, 06/16/2023		30,000		934
3.400%, 06/17/2036		193,984		6,044
3.300%, 06/17/2038		104,484		3,160
2.875%, 12/17/2028		72,951		2,288
2.875%, 06/17/2046		3,431		92
2.400%, 12/17/2023		88,000		2,720
2.125%, 12/17/2026		25,313		778
2.000%, 12/17/2031		63,815		1,859
2.000%, 06/17/2042		26,454		624
1.875%, 06/17/2022		20,000		603
1.600%, 12/17/2029		7,000		200

54

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
1.600%, 06/17/2035	THB	27,023	$	694
1.585%, 12/17/2035		17,000		430
1.450%, 12/17/2024		85,200		2,581
1.250%, 03/12/2028		60,988		1,871
1.000%, 06/17/2027		29,000		844
				33,853
Trinidad & Tobago — 0.0%
Trinidad & Tobago Government International Bond
4.500%, 08/04/2026	$	482		482
Tunisia — 0.2%
Tunisian Republic
6.375%, 07/15/2026 (B)	EUR	1,747		1,207
6.375%, 07/15/2026		622		430
5.750%, 01/30/2025 (A)	$	426		284
5.625%, 02/17/2024	EUR	965		727
				2,648
Turkey — 1.4%
Aydem Yenilenebilir Enerji
7.750%, 02/02/2027 (B)	$	655		521
Hazine Mustesarligi Varlik Kiralama
7.250%, 02/24/2027 (B)		3,059		3,069
7.250%, 02/24/2027		375		376
TC Ziraat Bankasi MTN
5.125%, 05/03/2022 (B)		1,063		1,063
Turkey Government Bond
1.500%, 06/18/2025	TRY	21,207		2,045
Turkey Government International Bond
7.250%, 12/23/2023 (A)	$	1,061		1,082
6.875%, 03/17/2036		550		489
6.500%, 09/20/2033 (A)		2,248		1,962
6.375%, 10/14/2025		819		801
6.350%, 08/10/2024		294		292
5.950%, 01/15/2031		2,175		1,873
5.875%, 06/26/2031		2,181		1,859
5.750%, 05/11/2047		69		51
5.125%, 02/17/2028		242		212
4.875%, 10/09/2026		1,017		916
4.750%, 01/26/2026 (A)		670		616
3.250%, 03/23/2023		846		830
Turkiye Ihracat Kredi Bankasi (B)
6.125%, 05/03/2024		247		242
5.375%, 10/24/2023		1,033		1,016
Turkiye Sise ve Cam Fabrikalari
6.950%, 03/14/2026 (B)		500		493
Turkiye Vakiflar Bankasi TAO
6.500%, 01/08/2026 (B)		379		362
Yapi ve Kredi Bankasi MTN
5.850%, 06/21/2024 (A)(B)		429		422
				20,592

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
Uganda — 0.4%
Republic of Uganda Government Bonds
17.000%, 01/16/2025	UGX	440,400	$	135
17.000%, 04/03/2031		8,683,400		2,823
16.375%, 03/04/2032		1,427,900		454
16.250%, 11/08/2035		1,123,900		343
16.000%, 05/06/2027		2,226,000		670
14.250%, 06/22/2034		5,311,800		1,475
10.000%, 09/07/2023		1,112,600		308
				6,208
Ukraine — 0.8%
NAK Naftogaz Ukraine via Kondor Finance
7.625%, 11/08/2026 (B)	$	990		327
7.125%, 07/19/2024	EUR	720		240
NPC Ukrenergo
6.875%, 11/09/2026 (B)	$	1,231		468
State Agency of Roads of Ukraine
6.250%, 06/24/2028		1,483		593
6.250%, 06/24/2028 (B)		363		145
Ukraine Government International Bond
17.000%, 05/11/2022	UAH	71,848		1,574
15.840%, 02/26/2025		66,553		687
9.750%, 11/01/2028	$	751		318
7.750%, 09/01/2023 (B)		24		12
7.750%, 09/01/2025 (B)		2,445		1,049
7.750%, 09/01/2026		1,905		812
7.750%, 09/01/2026 (B)		636		271
7.750%, 09/01/2027		1,425		603
7.750%, 09/01/2027 (B)		223		94
7.375%, 09/25/2032		1,778		736
7.253%, 03/15/2033		724		300
6.876%, 05/21/2029		3,929		1,626
6.876%, 05/21/2029 (B)		281		116
6.750%, 06/20/2026	EUR	1,299		584
3.000%, 05/31/2040 (B)(C)	$	2,206		676
1.258%, 05/31/2040 (C)		410		126
				11,357
United Arab Emirates — 1.7%
Abu Dhabi Crude Oil Pipeline
4.600%, 11/02/2047 (A)		580		613
4.600%, 11/02/2047 (B)		3,031		3,206
3.650%, 11/02/2029 (B)		207		212
Abu Dhabi Government International Bond
4.125%, 10/11/2047 (B)		591		638
Abu Dhabi Government International Bond MTN
3.875%, 04/16/2050 (B)		612		640
3.875%, 04/16/2050		260		272
3.000%, 09/15/2051 (A)		720		642
3.000%, 09/15/2051 (B)		519		463
2.500%, 04/16/2025 (A)		1,853		1,843

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

55

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

Emerging Markets Debt Fund (Continued)

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
1.700%, 03/02/2031 (A)	$	970	$	884
1.625%, 06/02/2028		1,599		1,498
DAE Funding LLC
3.375%, 03/20/2028 (B)		550		514
DP World MTN (B)
6.850%, 07/02/2037 (A)		210		252
5.625%, 09/25/2048		439		474
4.700%, 09/30/2049		134		130
DP World Crescent MTN
4.848%, 09/26/2028		475		505
DP World Salaam
6.000%, US Treas Yield Curve Rate T Note Const Mat 5 Yr + 5.750% (C)(F)		877		905
Emirate of Dubai Government International Bonds MTN
5.250%, 01/30/2043		490		505
Finance Department Government of Sharjah MTN (B)
4.000%, 07/28/2050		1,465		1,185
3.625%, 03/10/2033		842		776
Galaxy Pipeline Assets Bidco
2.940%, 09/30/2040 (A)		3,622		3,266
2.940%, 09/30/2040 (B)		593		535
2.625%, 03/31/2036 (B)		580		520
2.160%, 03/31/2034		1,660		1,527
MDGH GMTN RSC MTN
4.500%, 11/07/2028 (B)		548		591
3.950%, 05/21/2050		200		205
Sharjah Sukuk Program MTN
3.854%, 04/03/2026		359		363
UAE International Government Bond MTN
2.000%, 10/19/2031 (A)(B)		1,328		1,253
				24,417
United Kingdom — 0.0%
Standard Chartered Bank MTN
8.250%, 05/18/2029 (B)	IDR	6,861,000		520
United States — 0.5%
JPMorgan Chase Bank MTN (B)
7.500%, 06/15/2035		36,336,000		2,595
7.000%, 09/18/2030 (C)		50,431,000		3,571
Sagicor Financial
5.300%, 05/13/2028 (B)	$	520		518
				6,684
Uruguay — 0.4%
Uruguay Government International Bond
8.250%, 05/21/2031	UYU	13,840		322
5.100%, 06/18/2050	$	170		200
4.975%, 04/20/2055		719		838

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
4.375%, 01/23/2031 (A)	$	4,015	$	4,375
				5,735
Uzbekistan — 0.2%
Republic of Uzbekistan Bond MTN
5.375%, 02/20/2029		1,233		1,233
Republic of Uzbekistan International Bond
3.900%, 10/19/2031 (A)		505		446
Republic of Uzbekistan International Bond MTN
3.700%, 11/25/2030		205		177
Uzauto Motors AJ
4.850%, 05/04/2026 (B)		727		640
Uzbekneftegaz JSC
4.750%, 11/16/2028 (B)		810		662
				3,158
Venezuela — 0.3%
Petroleos de Venezuela
9.750%, 05/17/2035 (G)		1,000		62
9.000%, 11/17/2021 (A)(G)		4,300		301
6.000%, 05/16/2024 (G)		10,192		675
6.000%, 05/16/2024 (G)		7,785		516
6.000%, 11/15/2026 (G)		13,215		925
5.500%, 04/12/2037 (G)		1,740		107
5.375%, 04/12/2027 (G)		4,563		302
Venezuela Government International Bond
9.250%, 09/15/2027 (G)		2,300		189
9.250%, 05/07/2028 (G)		2,941		241
8.250%, 10/13/2024 (G)		3,304		271
7.750%, 10/13/2019 (G)		3,976		326
				3,915
Vietnam — 0.1%
Mong Duong Finance Holdings BV
5.125%, 05/07/2029 (B)		1,111		1,001
Zambia — 0.9%
First Quantum Minerals (B)
7.500%, 04/01/2025		404		410
6.875%, 03/01/2026		403		414
6.875%, 10/15/2027		529		554
Zambia Government Bond
13.000%, 08/29/2026	ZMW	1,375		58
13.000%, 12/18/2027		5,630		214
13.000%, 01/25/2031		17,744		566
11.000%, 01/25/2026		18,620		769
11.000%, 06/28/2026		78,885		3,131
10.000%, 06/28/2024		66,325		3,114
Zambia Government International Bond
8.970%, 07/30/2027	$	1,821		1,294
5.375%, 09/20/2022 (G)		3,347		2,296

56

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Description	Face Amount (Thousands)		Market Value ($ Thousands)
GLOBAL BONDS (continued)
5.375%, 09/20/2022 (B)	$	299	$	205
				13,025
Total Global Bonds
(Cost $1,532,486) ($ Thousands)				1,338,730
U.S. TREASURY OBLIGATIONS — 0.6%
U.S. Treasury Bill
0.634%, 07/21/2022 (H)		4,150		4,142

Description	Face Amount (Thousands)		Market Value ($ Thousands)
U.S. TREASURY OBLIGATIONS (continued)
0.072%, 04/28/2022 (H)	$	4,573	$	4,572
Total U.S. Treasury Obligations
(Cost $8,714) ($ Thousands)				8,714

	Shares
AFFILIATED PARTNERSHIP — 8.6%
SEI Liquidity Fund, L.P.
0.300% **†(I)		123,852,168		123,869
Total Affiliated Partnership
(Cost $123,867) ($ Thousands)				123,869
Total Investments in Securities — 101.9%
(Cost $1,665,067) ($ Thousands)			$	1,471,313

A list of the open futures contracts held by the Fund at March 31, 2022, is as follows:

Type of Contract	Number of Contracts			Expiration Date		Notional Amount (Thousands)			Value (Thousands)			Unrealized Appreciation/ (Depreciation) (Thousands)
Long Contracts
R186 Bond Future		494			May-2022	$	3,636		$	3,809		$	(16	)
R2030 Bond Future		569			May-2022		3,445			3,631			9
R2032 Bond Future		844			May-2022		4,893			5,195			50
R2035 Bond Future		623			May-2022		3,612			3,889			88
R2037 Bond Future		1,204			May-2022		6,636			7,183			86
R2040 Bond Future		229			May-2022		1,296			1,401			38
R213 Bond Future		853			May-2022		4,674			4,935			20
U.S. 2-Year Treasury Note		36			Jul-2022		7,735			7,629			(106	)
U.S. 5-Year Treasury Note		5			Jul-2022		589			574			(15	)
U.S. 10-Year Treasury Note		18			Jun-2022		2,272			2,212			(60	)
U.S. Ultra Long Treasury Bond		44			Jun-2022		8,106			7,794			(312	)
							46,894			48,252			(218	)
Short Contracts
Euro-Bob		(35	)		Jun-2022	$	(5,097	)	$	(5,018	)	$	103
Euro-Bund		(78	)		Jun-2022		(14,230	)		(13,769	)		526
Euro-Buxl		(40	)		Jun-2022		(8,775	)		(8,287	)		528
U.S. Long Treasury Bond		(15	)		Jun-2022		(2,319	)		(2,251	)		68
							(30,421	)		(29,325	)		1,225
						$	16,473		$	18,927		$	1,007

A list of the open forward foreign currency contracts held by the Fund at March 31, 2022, is as follows:

Counterparty	Settlement Date		Currency to Deliver (Thousands)			Currency to Receive (Thousands)			Unrealized Appreciation (Depreciation) (Thousands)
Barclays PLC		04/06/22		EUR	1,036		USD	1,171	$	19
Barclays PLC		04/05/22 - 06/15/22		EUR	622		USD	682		(11	)
Barclays PLC		04/21/22		USD	1,087		TRY	16,725		40
Barclays PLC		04/21/22		USD	432		TRY	6,217		(13	)
Barclays PLC		04/21/22		TRY	11,733		USD	835		44
Barclays PLC		04/21/22		TRY	25,223		USD	1,655		(45	)

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

57

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

Emerging Markets Debt Fund (Continued)

Counterparty	Settlement Date		Currency to Deliver (Thousands)			Currency to Receive (Thousands)			Unrealized Appreciation (Depreciation) (Thousands)
Barclays PLC		06/15/22		USD	430		THB	14,228	$	(1	)
Barclays PLC		06/15/22		USD	1,882		IDR	27,056,400		1
Barclays PLC		06/15/22		ZAR	5,740		USD	380		(10	)
Barclays PLC		06/15/22		USD	5,101		ZAR	77,891		181
Barclays PLC		06/15/22		USD	1,504		ZAR	22,080		(7	)
Barclays PLC		06/15/22		CZK	15,280		USD	678		(12	)
Barclays PLC		06/15/22		CNY	48,198		USD	7,576		11
Barclays PLC		09/21/22		EUR	318		RON	1,624		1
BNP Paribas		05/23/22		KRW	180,741		USD	151		2
BNP Paribas		05/31/22		USD	430		IDR	6,173,433		—
BNP Paribas		06/15/22		USD	296		ZAR	4,315		(3	)
BNP Paribas		06/15/22		EUR	535		PLN	2,509		2
Citigroup		04/06/22		EUR	412		USD	463		4
Citigroup		04/05/22		EUR	1,426		USD	1,554		(33	)
Citigroup		04/06/22 - 06/30/22		RON	24,448		EUR	4,854		(91	)
Citigroup		04/08/22		EUR	964		PLN	4,517		11
Citigroup		04/11/22		USD	2,124		KRW	2,571,677		(3	)
Citigroup		04/11/22		TWD	29,710		USD	1,047		10
Citigroup		04/11/22 - 06/10/22		THB	51,893		USD	1,564		2
Citigroup		04/14/22 - 06/15/22		USD	3,315		IDR	47,675,909		3
Citigroup		06/15/22		USD	1,146		IDR	16,442,920		(1	)
Citigroup		04/14/22 - 05/31/22		IDR	1,432,612		USD	99		—
Citigroup		04/29/22 - 06/15/22		USD	10,775		SGD	14,627		35
Citigroup		05/24/22		ILS	722		USD	219		(7	)
Citigroup		06/02/22		USD	656		BRL	3,389		44
Citigroup		06/15/22		USD	559		UAH	16,283		(33	)
Citigroup		06/15/22		USD	895		CLP	730,356		23
Citigroup		06/15/22		USD	1,199		CNY	7,680		6
Citigroup		09/21/22		USD	472		EGP	9,079		11
Citigroup		06/15/22		USD	1,832		EGP	30,814		(154	)
Citigroup		06/15/22		USD	4,424		ZAR	67,888		180
Citigroup		06/15/22		PLN	4,474		USD	1,032		(34	)
Citigroup		06/15/22		PEN	4,909		USD	1,313		(2	)
Citigroup		06/15/22		USD	9,917		PLN	44,770		753
Citigroup		06/15/22		PLN	12,465		EUR	2,617		(51	)
Citigroup		06/15/22		USD	12,523		EUR	11,342		130
Citigroup		06/15/22		MXN	12,442		USD	617		1
Citigroup		06/15/22		MXN	3,440		USD	161		(9	)
Citigroup		06/15/22		UAH	16,283		USD	437		(89	)
Citigroup		06/15/22		ZAR	16,368		USD	1,092		(19	)
Citigroup		06/15/22		USD	4,720		THB	156,911		5
Citigroup		06/15/22		USD	11,763		THB	389,348		(39	)
Citigroup		06/15/22		CZK	35,440		USD	1,525		(76	)
Citigroup		06/15/22		EGP	107,703		USD	6,620		756
Citigroup		06/15/22		HUF	1,457,683		USD	4,020		(355	)
Citigroup		06/15/22		UGX	19,390,831		USD	5,245		(110	)
Citigroup		06/15/22		COP	39,508,996		USD	10,323		(108	)
Citigroup		06/30/22 - 09/21/22		EUR	1,653		RON	8,428		17
Citigroup		12/21/22		USD	2,232		GHS	18,595		109
Deutsche Bank		04/05/22		EUR	812		USD	895		(9	)

58

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Counterparty	Settlement Date		Currency to Deliver (Thousands)			Currency to Receive (Thousands)			Unrealized Appreciation (Depreciation) (Thousands)
Goldman Sachs		04/04/22 - 06/02/22		USD	22,647		BRL	117,810	$	1,925
Goldman Sachs		06/02/22		BRL	1,528		USD	317		1
Goldman Sachs		04/04/22 - 06/02/22		BRL	69,773		USD	14,299		(355	)
Goldman Sachs		04/05/22 - 06/15/22		EUR	1,600		USD	1,762		(22	)
Goldman Sachs		04/05/22		USD	2,480		EUR	2,243		15
Goldman Sachs		04/06/22 - 07/28/22		EUR	2,678		RON	13,531		15
Goldman Sachs		06/30/22		EUR	207		RON	1,038		—
Goldman Sachs		04/14/22 - 06/15/22		USD	9,005		IDR	129,841,152		34
Goldman Sachs		06/15/22		USD	5,753		IDR	82,572,830		(7	)
Goldman Sachs		04/18/22 - 04/28/22		USD	4,148		SGD	5,640		20
Goldman Sachs		04/20/22		USD	1,203		KZT	533,579		(68	)
Goldman Sachs		04/21/22		USD	441		TRY	6,911		24
Goldman Sachs		04/21/22		TRY	23,950		USD	1,662		49
Goldman Sachs		06/15/22		TRY	75,929		USD	4,765		(145	)
Goldman Sachs		05/23/22		CNY	1,252		USD	197		—
Goldman Sachs		05/24/22		USD	4,431		ILS	14,257		44
Goldman Sachs		06/15/22		USD	754		COP	2,856,651		—
Goldman Sachs		06/15/22		EUR	899		PLN	4,301		22
Goldman Sachs		06/15/22		USD	1,187		UAH	34,600		(70	)
Goldman Sachs		06/15/22		USD	2,232		MXN	46,137		52
Goldman Sachs		06/15/22		EUR	2,892		CZK	72,042		28
Goldman Sachs		06/23/22		USD	848		THB	28,175		—
Goldman Sachs		06/15/22		USD	2,974		THB	98,557		(7	)
Goldman Sachs		06/15/22		USD	5,057		HUF	1,764,240		238
Goldman Sachs		06/15/22		USD	7,238		ZAR	111,138		299
Goldman Sachs		06/15/22		ZAR	7,690		USD	495		(26	)
Goldman Sachs		06/15/22		PLN	22,604		USD	5,251		(137	)
Goldman Sachs		06/15/22		UAH	34,600		USD	812		(305	)
Goldman Sachs		06/15/22		MXN	10,977		USD	543		—
Goldman Sachs		06/15/22		MXN	216,960		USD	10,544		(196	)
Goldman Sachs		06/15/22		INR	50,970		USD	668		1
Goldman Sachs		06/15/22		INR	512,507		USD	6,642		(64	)
Goldman Sachs		06/15/22		PHP	709,719		USD	13,470		(162	)
Goldman Sachs		06/15/22		COP	4,742,940		USD	1,237		(15	)
Goldman Sachs		09/21/22		USD	489		EGP	9,079		(7	)
JPMorgan Chase Bank		04/01/22 - 05/23/22		RUB	141,935		USD	1,313		(389	)
JPMorgan Chase Bank		04/04/22 - 06/13/22		USD	3,123		BRL	15,958		216
JPMorgan Chase Bank		06/02/22		USD	754		BRL	3,637		(2	)
JPMorgan Chase Bank		04/04/22 - 06/13/22		BRL	50,719		USD	9,791		(696	)
JPMorgan Chase Bank		04/05/22 - 05/04/22		USD	15,473		EUR	14,067		184
JPMorgan Chase Bank		04/05/22 - 04/28/22		USD	10,900		EUR	9,702		(103	)
JPMorgan Chase Bank		04/28/22 - 05/04/22		EUR	12,389		USD	14,029		236
JPMorgan Chase Bank		04/05/22 - 04/19/22		EUR	15,353		USD	16,921		(164	)
JPMorgan Chase Bank		04/06/22 - 06/30/22		EUR	5,898		RON	29,700		96
JPMorgan Chase Bank		04/08/22		EUR	1,184		HUF	468,278		101
JPMorgan Chase Bank		04/08/22 - 06/15/22		USD	2,899		IDR	41,576,372		(5	)
JPMorgan Chase Bank		04/08/22		EUR	3,903		PLN	18,596		118
JPMorgan Chase Bank		04/20/22 - 04/26/22		IDR	177,809,013		USD	12,410		24
JPMorgan Chase Bank		04/08/22 - 04/28/22		IDR	150,490,521		USD	10,440		(41	)
JPMorgan Chase Bank		04/11/22 - 04/18/22		USD	3,212		PHP	168,382		39
JPMorgan Chase Bank		04/28/22 - 07/05/22		USD	2,626		MYR	11,050		3

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

59

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

Emerging Markets Debt Fund (Continued)

Counterparty	Settlement Date		Currency to Deliver (Thousands)			Currency to Receive (Thousands)			Unrealized Appreciation (Depreciation) (Thousands)
JPMorgan Chase Bank		04/11/22		USD	1,267		MYR	5,305	$	(5	)
JPMorgan Chase Bank		04/11/22		PHP	85,083		USD	1,618		(25	)
JPMorgan Chase Bank		04/12/22		PEN	261		USD	70		—
JPMorgan Chase Bank		04/13/22		USD	698		COP	2,638,679		5
JPMorgan Chase Bank		04/13/22		USD	815		TRY	12,282		17
JPMorgan Chase Bank		04/13/22		USD	916		TRY	13,470		(3	)
JPMorgan Chase Bank		04/13/22 - 06/15/22		PEN	13,396		USD	3,579		(24	)
JPMorgan Chase Bank		04/13/22		COP	1,810,520		USD	483		1
JPMorgan Chase Bank		04/13/22 - 06/15/22		COP	38,182,876		USD	9,964		(144	)
JPMorgan Chase Bank		04/18/22 - 05/23/22		USD	795		RUB	84,000		203
JPMorgan Chase Bank		04/19/22		USD	1,195		HUF	415,857		63
JPMorgan Chase Bank		04/19/22 - 05/16/22		ZAR	346,917		USD	21,921		(1,773	)
JPMorgan Chase Bank		04/20/22		KZT	535,522		USD	1,063		(76	)
JPMorgan Chase Bank		04/21/22		USD	1,996		PHP	104,800		27
JPMorgan Chase Bank		04/21/22		TRY	8,859		USD	578		(19	)
JPMorgan Chase Bank		04/26/22		USD	3,156		IDR	45,301,103		—
JPMorgan Chase Bank		04/28/22		JPY	205,713		USD	1,808		113
JPMorgan Chase Bank		05/04/22		USD	179		EUR	160		(1	)
JPMorgan Chase Bank		05/11/22		USD	1,144		VND	26,217,787		1
JPMorgan Chase Bank		05/16/22		USD	282		ZAR	4,131		(1	)
JPMorgan Chase Bank		05/16/22		USD	564		PLN	2,378		5
JPMorgan Chase Bank		05/16/22		PLN	660		USD	147		(10	)
JPMorgan Chase Bank		05/16/22		USD	3,874		MXN	81,010		158
JPMorgan Chase Bank		05/16/22		USD	6,285		ZAR	97,456		350
JPMorgan Chase Bank		06/15/22		USD	701		RON	3,260		26
JPMorgan Chase Bank		05/16/22		USD	6,790		RON	30,003		(66	)
JPMorgan Chase Bank		05/16/22		USD	1,680		CNY	10,753		11
JPMorgan Chase Bank		06/06/22 - 06/13/22		USD	12,086		CNY	76,832		(20	)
JPMorgan Chase Bank		05/16/22		MXN	21,488		USD	1,071		1
JPMorgan Chase Bank		06/15/22		USD	9,250		PLN	42,153		797
JPMorgan Chase Bank		05/16/22		USD	18,472		PLN	74,929		(558	)
JPMorgan Chase Bank		05/16/22 - 06/15/22		RON	46,648		USD	10,120		(318	)
JPMorgan Chase Bank		06/06/22 - 06/13/22		CNY	11,262		USD	1,769		1
JPMorgan Chase Bank		05/16/22 - 06/15/22		CNY	35,534		USD	5,551		(27	)
JPMorgan Chase Bank		05/16/22 - 06/15/22		ZAR	55,149		USD	3,765		22
JPMorgan Chase Bank		06/15/22		MXN	28,660		USD	1,421		3
JPMorgan Chase Bank		05/16/22 - 06/15/22		MXN	143,814		USD	6,936		(193	)
JPMorgan Chase Bank		05/23/22		USD	3,269		BRL	17,470		355
JPMorgan Chase Bank		05/23/22		USD	11,343		KRW	13,596,172		(139	)
JPMorgan Chase Bank		05/23/22		KRW	283,096		USD	233		—
JPMorgan Chase Bank		05/24/22		ILS	60		USD	18		(1	)
JPMorgan Chase Bank		06/13/22		BRL	3,512		USD	726		2
JPMorgan Chase Bank		06/02/22		BRL	27,430		USD	5,319		(353	)
JPMorgan Chase Bank		06/13/22		USD	457		CNY	2,923		2
JPMorgan Chase Bank		06/13/22 - 06/15/22		USD	9,137		CZK	217,126		673
JPMorgan Chase Bank		06/13/22		CLP	43,560		USD	55		—
JPMorgan Chase Bank		06/13/22		CLP	4,351,605		USD	5,351		(115	)
JPMorgan Chase Bank		06/14/22		USD	7,039		HUF	2,529,202		552
JPMorgan Chase Bank		06/15/22		EUR	325		CZK	8,030		1
JPMorgan Chase Bank		06/15/22		USD	1,319		THB	43,752		(2	)

60

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Counterparty	Settlement Date		Currency to Deliver (Thousands)			Currency to Receive (Thousands)			Unrealized Appreciation (Depreciation) (Thousands)
JPMorgan Chase Bank		06/15/22		USD	2,838		CLP	2,327,787	$	85
JPMorgan Chase Bank		06/15/22		USD	5,490		SGD	7,459		23
JPMorgan Chase Bank		06/15/22		CZK	23,620		EUR	940		(18	)
JPMorgan Chase Bank		06/15/22		PHP	33,630		USD	642		(4	)
JPMorgan Chase Bank		06/21/22		USD	1,578		THB	52,548		5
JPMorgan Chase Bank		06/21/22		THB	53,731		USD	1,618		—
JPMorgan Chase Bank		06/30/22		RON	5,624		EUR	1,111		(12	)
JPMorgan Chase Bank		09/21/22		USD	416		EGP	7,836		1
Merrill Lynch		06/15/22		USD	691		ZAR	10,550		24
Merrill Lynch		06/15/22		PLN	4,030		USD	869		(92	)
Merrill Lynch		06/15/22		ZAR	7,340		USD	502		4
Merrill Lynch		06/15/22		USD	12,683		MXN	271,281		746
Merrill Lynch		06/15/22		RON	13,644		USD	2,945		(100	)
Merrill Lynch		06/15/22		IDR	12,385,520		USD	862		—
Morgan Stanley		04/21/22		USD	508		TRY	7,860		22
Morgan Stanley		04/28/22 - 04/29/22		CNY	26,097		USD	4,082		(28	)
Morgan Stanley		04/29/22		USD	688		IDR	9,982,980		7
Morgan Stanley		05/04/22		USD	4,855		EUR	4,350		(11	)
Morgan Stanley		06/10/22 - 06/23/22		USD	3,568		THB	119,853		42
Morgan Stanley		06/15/22		USD	985		ZAR	14,516		(1	)
Morgan Stanley		06/15/22		USD	2,133		MXN	44,285		59
Morgan Stanley		06/15/22		CZK	15,096		EUR	604		(9	)
Morgan Stanley		06/15/22		CLP	121,895		USD	153		—
Standard Bank		04/05/22		USD	2,650		EUR	2,405		26
Standard Bank		05/04/22		USD	3,375		EUR	3,020		(12	)
Standard Bank		04/05/22 - 05/04/22		EUR	24,180		USD	27,230		316
Standard Bank		04/05/22 - 05/04/22		EUR	2,738		USD	3,036		(13	)
Standard Bank		06/15/22		USD	588		PLN	2,500		7
Standard Bank		06/15/22		USD	663		CZK	14,750		3
Standard Bank		06/15/22		USD	949		MXN	19,200		1
Standard Bank		06/15/22		USD	975		ZMW	17,780		(8	)
Standard Bank		06/15/22		USD	1,275		CLP	1,042,588		34
Standard Bank		06/15/22		USD	2,791		MYR	11,709		(7	)
Standard Bank		06/15/22		USD	1,477		THB	49,277		7
Standard Bank		06/15/22		USD	1,602		THB	53,200		—
Standard Bank		06/15/22		TRY	7,890		USD	507		(3	)
Standard Bank		06/15/22		USD	11,868		SGD	16,106		36
Standard Bank		06/15/22		INR	94,449		USD	1,237		1
Standard Bank		06/15/22		INR	468,921		USD	6,132		(4	)
Standard Chartered		04/11/22 - 06/10/22		USD	2,697		THB	90,842		36
Standard Chartered		04/11/22		THB	14,472		USD	433		(2	)
Standard Chartered		04/11/22		TWD	28,379		USD	1,001		10
Standard Chartered		04/11/22		KRW	2,517,945		USD	2,042		(35	)
Standard Chartered		04/14/22 - 05/31/22		USD	2,405		IDR	34,789,782		17
Standard Chartered		04/14/22		IDR	8,901,307		USD	618		(2	)
Standard Chartered		05/23/22		USD	415		CNY	2,638		—
Standard Chartered		05/23/22		CNY	24,962		USD	3,919		(6	)
Standard Chartered		05/25/22		USD	215		MYR	906		—
Standard Chartered		05/25/22		USD	1,996		MYR	8,378		(3	)
Standard Chartered		06/15/22		USD	325		CLP	257,759		(2	)

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

61

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

Emerging Markets Debt Fund (Continued)

Counterparty	Settlement Date		Currency to Deliver (Thousands)			Currency to Receive (Thousands)			Unrealized Appreciation (Depreciation) (Thousands)
Standard Chartered		06/30/22		EUR	191		RON	974	$	3
State Street		04/05/22		USD	1,028		EUR	916		(9	)
State Street		04/29/22		USD	259		SGD	351		—
State Street		05/04/22		EUR	2,850		USD	3,148		(25	)
State Street		06/15/22		USD	1,073		MXN	22,241		28
State Street		06/15/22		PLN	4,528		EUR	951		(18	)
									$	2,509

A list of the open OTC swap agreements held by the Fund at March 31, 2022, is as follows:

Interest Rate Swaps
Counterparty	Fund Pays		Fund Receives		Payment Frequency		Termination Date		Currency		Notional Amount (Thousands)		Value (Thousands)			Upfront Payments (Thousands)		Net Unrealized Appreciation (Depreciation) (Thousands)
JPMorgan Chase		1-DAY-CLP - CLICP		3.430%		Semi-Annually		05/10/2022		CLP		420,527	$	2		$	–	$	2
Goldman Sachs		28-DAY MXN - TIIE		5.900%		Monthly		09/12/2022		MXN		75,956		(25	)		–		(25	)
Goldman Sachs		1-DAY BRL - CETIP		11.985%		Annually		01/02/2023		BRL		3,000		292			–		292
Goldman Sachs		1-DAY BRL - CETIP		10.04%		Annually		01/03/2023		BRL		5,012		344			–		344
JPMorgan Chase		2.48%		3-MONTH MYR - KLIBOR		Quarterly		10/27/2023		MYR		26,000		4			–		4
Goldman Sachs		7.235%		6-MONTH CLP - CLICP		Semi-Annually		02/18/2024		CLP		4,520,800		11			–		11
Goldman Sachs		7.205%		6-MONTH CLP - CLICP		Semi-Annually		02/22/2024		CLP		4,520,800		(32	)		–		(32	)
Goldman Sachs		7.5%		6-MONTH CLP - CLICP		Semi-Annually		03/10/2024		CLP		2,341,775		30			–		30
Goldman Sachs		7.62%		6-MONTH CLP - CLICP		Semi-Annually		03/11/2024		CLP		2,341,775		37			–		37
Goldman Sachs		28-DAY MXN - TIIE		6.355%		Monthly		05/21/2025		MXN		23,145		(70	)		–		(70	)
Goldman Sachs		28-DAY MXN - TIIE		6.205%		Monthly		12/08/2025		MXN		16,624		(60	)		–		(60	)
Goldman Sachs		28-DAY MXN - TIIE		6.165%		Monthly		03/05/2026		MXN		47,200		(179	)		–		(179	)
JPMorgan Chase		28-DAY MXN - TIIE		6.13%		Monthly		06/18/2026		MXN		40,000		(162	)		–		(162	)
Goldman Sachs		2.158%		6-MONTH CZK - PRIBOR		Annually		08/30/2026		CZK		66,603		(251	)		–		(251	)
Goldman Sachs		28-DAY MXN - TIIE		6.381%		Monthly		09/16/2026		MXN		26,000		(97	)		–		(97	)
Goldman Sachs		5.87%		6-MONTH INR - MIBOR		Semi-Annually		02/04/2027		INR		504,948		(26	)		–		(26	)
Goldman Sachs		5.9171%		6-MONTH INR - MIBOR		Semi-Annually		02/07/2027		INR		589,752		(45	)		–		(45	)
Citibank		2.4251%		7-DAY CHINA FIXING REPO RATES		Quarterly		03/16/2027		CNY		99,100		5			–		5
JPMorgan Chase		1.9769%		3-MONTH ILS - TELBOR		Quarterly		03/30/2027		ILS		16,071		60			–		60
JPMorgan Chase		1.95%		3-MONTH ILS - TELBOR		Quarterly		03/31/2027		ILS		9,462		38			–		38
JPMorgan Chase		1.9075%		3-MONTH ILS - TELBOR		Quarterly		04/01/2027		ILS		4,865		22			–		22
													$	(102	)	$	–	$	(102	)

A list of the open centrally cleared swap agreements held by the Fund at March 31, 2022, is as follows:

Interest Rate Swaps
Fund Pays	Fund Receives		Payment Frequency		Termination Date		Currency		Notional Amount (Thousands)		Value (Thousands)			Upfront Payments/ Receipts (Thousands)		Net Unrealized Appreciation (Depreciation) (Thousands)
28-DAY MXN - TIIE		6.745%		Monthly		06/23/2022		MXN		26,758	$	–		$	–	$	–
1-DAY BRL - CETIP		6.455%		Annually		01/02/2025		BRL		3,591		(94	)		–		(94	)
28-DAY MXN - TIIE		6.45%		Monthly		04/01/2025		MXN		27,064		(75	)		–		(75	)
1-DAY-CLP - CLICP		1.36%		Semi-Annually		06/17/2025		CLP		1,931,133		(371	)		–		(371	)
1-DAY-CLP - CLICP		1.16%		Semi-Annually		06/23/2025		CLP		2,335,691		(468	)		–		(468	)
1-DAY-CLP - CLICP		.26%		Semi-Annually		03/16/2026		CLP		1,623,158		(302	)		–		(302	)
28-DAY MXN - TIIE		.815%		Monthly		04/06/2026		MXN		27,590		(121	)		–		(121	)
5.145%		1-DAY FBIL - MIBOR		Semi-Annually		08/27/2026		INR		200,000		67			–		67
5.148%		1-DAY FBIL - MIBOR		Semi-Annually		09/02/2026		INR		200,000		67			–		67

62

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Fund Pays	Fund Receives		Payment Frequency		Termination Date		Currency		Notional Amount (Thousands)		Value (Thousands)			Upfront Payments/ Receipts (Thousands)		Net Unrealized Appreciation (Depreciation) (Thousands)
3.33%		6-MONTH CZK - PRIBOR		Semi-Annually		11/25/2026		CZK		62,485	$	(134)		$	–	$	(134)
28-DAY MXN - TIIE		7.72%		Monthly		12/03/2026		MXN		8,000		(9	)		–		(9	)
2.23%		1-DAY BRL - CETIP		Annually		01/04/2027		BRL		4,507		48			–		48
10.29 %		1-DAY BRL - CETIP		Annually		01/04/2027		BRL		2,660		21			–		21
6.395%		1-DAY COP - COLUMBIA IBR		Quarterly		01/06/2027		COP		752,360		13			–		13
.03%		6-MONTH CZK - PRIBOR		Semi-Annually		01/10/2027		CZK		55,579		(7	)		–		(7	)
5.1%		6-MONTH HUF - BUBOR		Semi-Annually		01/11/2027		HUF		839,296		137			–		137
.355%		7-DAY CHINA FIXING REPO RATES		Quarterly		01/18/2027		CNY		15,800		(8	)		–		(8	)
.14%		1-DAY COP - COLUMBIA IBR		Quarterly		01/31/2027		COP		10,885,264		103			–		103
3.66%		6-MONTH CZK - PRIBOR		Semi-Annually		02/10/2027		CZK		24,382		38			–		38
.745%		6-MONTH CZK - PRIBOR		Semi-Annually		02/11/2027		CZK		24,382		33			–		33
.39%		6-MONTH PLN - WIBOR		Semi-Annually		03/28/2027		PLN		2,812		(5	)		–		(5	)
.365%		6-MONTH PLN - WIBOR		Semi-Annually		03/29/2027		PLN		10,367		45			–		45
28-DAY MXN - TIIE		7.51%		Monthly		04/20/2027		MXN		8,110		(13	)		–		(13	)
6.9225%		28-DAY MXN - TIIE		Monthly		08/31/2029		MXN		42,602		151			–		151
6.82%		28-DAY MXN - TIIE		Monthly		09/10/2029		MXN		17,915		69			–		69
.33%		1-DAY-CLP - CLICP		Semi-Annually		06/05/2030		CLP		830,041		197			–		197
1-DAY-CLP - CLICP		.145%		Semi-Annually		08/24/2030		CLP		444,725		(146	)		–		(146	)
3.305%		6-MONTH HUF - BUBOR		Annually		10/04/2031		HUF		424,147		(244	)		–		(244	)
7.345%		28-DAY MXN - TIIE		Monthly		11/10/2031		MXN		15,930		(43	)		–		(43	)
7.375%		28-DAY MXN - TIIE		Monthly		11/10/2031		MXN		19,827		(51	)		–		(51	)
1-DAY BRL - CETIP		6.82%		Annually		01/02/2025		BRL		3,362		(88	)		–		(88	)
1.135%		1-DAY BRL - CETIP		Annually		01/02/2025		BRL		20,170		(25	)		–		(25	)
1-DAY BRL - CETIP		.65%		Annually		01/02/2025		BRL		12,389		(394	)		–		(394	)
7.7325%		1-DAY BRL - CETIP		Annually		01/02/2025		BRL		10,902		(218	)		–		(218	)
28-DAY MXN - TIIE		6.71%		Monthly		07/07/2022		MXN		37,637		(1	)		–		(1	)
1-DAY BRL - CETIP		.43%		Annually		01/02/2023		BRL		12,558		157			–		157
1-DAY BRL - CETIP		5.25%		Annually		01/02/2023		BRL		11,519		(136	)		–		(136	)
1-DAY BRL - CETIP		6.61%		Annually		01/02/2023		BRL		4,693		(46	)		–		(46	)
1-DAY BRL - CETIP		5.655%		Annually		01/02/2023		BRL		2,705		(31	)		–		(31	)
1-DAY BRL - CETIP		9.255%		Annually		01/02/2023		BRL		2,368		(16	)		–		(16	)
1-DAY BRL - CETIP		.77 %		Annually		01/02/2023		BRL		6,361		(61	)		–		(61	)
1-DAY BRL - CETIP		.23%		Annually		01/02/2023		BRL		5,579		(58	)		–		(58	)
2%		28-DAY MXN - TIIE		Monthly		01/27/2023		MXN		102,359		33			–		33
28-DAY MXN - TIIE		.55%		Monthly		04/13/2023		MXN		52,615		(72	)		–		(72	)
6-MONTH CZK - PRIBOR		3.76%		Annually		11/22/2023		CZK		188,903		(213	)		–		(213	)
28-DAY MXN - TIIE		.01%		Monthly		11/22/2023		MXN		148,276		(277	)		–		(277	)
3.795%		6-MONTH CZK - PRIBOR		Annually		11/25/2023		CZK		178,343		(197	)		–		(197	)
.45%		1-DAY BRL - CETIP		Annually		01/02/2024		BRL		9,407		(150	)		–		(150	)
6-MONTH HUF - BUBOR		3.69%		Annually		11/11/2031		HUF		345,651		166			–		166
1-DAY BRL - CETIP		.76%		Annually		01/02/2024		BRL		8,953		(203	)		–		(203	)
1-DAY BRL - CETIP		5.9725%		Annually		01/02/2024		BRL		5,677		(121	)		–		(121	)
1-DAY BRL - CETIP		.5 %		Annually		01/02/2024		BRL		4,808		(98	)		–		(98	)
1-DAY BRL - CETIP		5.715%		Annually		01/02/2024		BRL		3,999		(89	)		–		(89	)
1-DAY BRL - CETIP		4.835%		Annually		01/02/2024		BRL		21,544		(541	)		–		(541	)
1-DAY BRL - CETIP		.99%		Annually		01/02/2024		BRL		6,670		(162	)		–		(162	)
.3%		6-MONTH HUF - BUBOR		Semi-Annually		01/11/2024		HUF		1,958,793		178			–		178
5.741%		1-DAY FBIL - MIBOR		Annually		01/20/2024		INR		930,000		31			–		31
28-DAY MXN - TIIE		.1525%		Monthly		02/22/2024		MXN		123,473		(210	)		–		(210	)
1.9865%		6-MONTH PLN - WIBOR		Semi-Annually		03/25/2024		PLN		12,430		206			–		206
.61%		6-MONTH HUF - BUBOR		Annually		03/31/2024		HUF		2,064,374		14			–		14
.505%		6-MONTH HUF - BUBOR		Annually		04/04/2024		HUF		1,968,874		17			–		17
28-DAY MXN - TIIE		.47%		Monthly		06/19/2024		MXN		95,833		(136	)		–		(136	)
2.465%		6-MONTH CZK - PRIBOR		Annually		09/21/2024		CZK		89,830		(252	)		–		(252	)
1-DAY BRL - CETIP		.77 %		Annually		01/02/2025		BRL		4,102		(109	)		–		(109	)
1-DAY BRL - CETIP		5.56 %		Annually		01/02/2024		BRL		18,819		(437	)		–		(437	)

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

63

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

Emerging Markets Debt Fund (Concluded)

Fund Pays	Fund Receives		Payment Frequency		Termination Date		Currency		Notional Amount (Thousands)		Value (Thousands)			Upfront Payments/ Receipts (Thousands)		Net Unrealized Appreciation (Depreciation) (Thousands)
7.64%		28-DAY MXN - TIIE		Monthly		01/01/2032		MXN		23,014		40			–		40
											$	(4,601	)	$	–	$	(4,601	)

Credit Default Swap
Reference Entity/ Obligation	Buy/Sell Protection		(Pays)/Receives Rate		Payment Frequency		Termination Date		Notional Amount (Thousands)		Value (Thousands)		Upfront Payments/ Receipts (Thousands)		Net Unrealized Appreciation (Depreciation) (Thousands)
CDX.EM.37.V1		Buy		1.00%		Quarterly		06/20/2027		13,921	$	818	$	893	$	(75	)
											$	818	$	893	$	(75	)

	Percentages are based on Net Assets of $1,444,332 ($ Thousands).
**	The rate reported is the 7-day effective yield as of March 31, 2022.
†	Investment in Affiliated Security (see Note 5).
(A)	Certain securities or partial positions of certain securities are on loan at March 31, 2022 (see Note 9). The total market value of securities on loan at March 31, 2022 was $115,613 ($ Thousands).
(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 institutions. On March 31, 2022, the value of these securities amounted to $214,703 ($ Thousands), representing 14.9% of the Net Assets of the Fund.
(C)	Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates.
(D)	Step Bonds – Represents the current rate, the step rate, the step date and the final maturity date.
(E)	Zero coupon security.
(F)	Perpetual security with no stated maturity date.
(G)	Security is in default on interest payment.
(H)	Interest rate represents the security's effective yield at the time of purchase.
(I)	This security was purchased with cash collateral held from securities on loan (see Note 9). The total market value of such securities as of March 31, 2022 was $123,869 ($ Thousands).

BRL — Brazilian Real

BUBOR— Budapest Interbank Offered Rate

CETIP— Central of Custody and Financial Settlement of Securities

CLICP — Sinacofi Chile Interbank Rate Avg

CLP — Chilean Peso

CNY — Chinese Yuan Onshore

COP — Colombian Peso

CZK — Czech Koruna

DAC — Designated Activity Company

DOP — Dominican Peso

EGP — Egyptian Pound

EUR — Euro

FBIL — Financial Benchmarks India Ltd

GHS — Ghanaian Cedi

HUF — Hungarian Forint

IBR — Indicador Bancario de Referencia

ICE— Intercontinental Exchange

IDR — Indonesian Rupiah

ILS — Israeli New Sheckels

INR — Indian Rupee

JPY — Japanese Yen

JSC — Joint-Stock Company

KLIBOR — Kuala Lumpur Interbank Offer Rate

KRW — Korean Won

KZT - Kazakhstani Tenge

LIBOR— London Interbank Offered Rate

LLC — Limited Liability Company

L.P. — Limited Partnership

Ltd. — Limited

MIBOR — Mumbai InterBank Overnight Rate

MTN — Medium Term Note

MXN — Mexican Peso

MYR — Malaysian Ringgit

OTC — Over The Counter

PEN — Peruvian Nuevo Sol

PHP— Philippine Peso

PJSC — Public Joint-Stock Company

PLC — Public Limited Company

PLN — Polish Zloty

PRIBOR— Prague Interbank Offered Rate

RON — Romanian Leu

RSD — Serbian Dinar

RUB — Russian Ruble

Ser — Series

SGD — Singapore Dollar

SOFR — Secured Overnight Financing Rate

TELBOR — Tel Aviv Inter-Bank Offered Rate

THB — Thai Baht

TIIE — Interbank Equilibrium Interest Rate

TRY — Turkish Lira

TWD — Taiwan Dollar

UAH — Ukrainian Hryvnia

UGX — Ugandan Shilling

ULC — Unlimited Liability Company

USD — U.S. Dollar

UYU — Uruguayan Peso

VND — Vietnamese Dong

WIBOR— Warsaw Interbank Offered Rate

ZAR — South African Rand

ZMW — Zambian Kwacha

64

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

The following is a list of the level of inputs used as of March 31, 2022, in valuing the Fund’s investments and other financial instruments carried at value ($ Thousands):

Investments in Securities	Level 1 ($)		Level 2 ($)		Level 3 ($)		Total ($)
Global Bonds		–		1,338,730		–		1,338,730
U.S. Treasury Obligations		–		8,714		–		8,714
Affiliated Partnership		–		123,869		–		123,869
Total Investments in Securities		–		1,471,313		–		1,471,313

Other Financial Instruments	Level 1 ($)			Level 2 ($)			Level 3 ($)		Total ($)
Futures Contracts*
Unrealized Appreciation		1,516			–			–		1,516
Unrealized Depreciation		(509	)		–			–		(509	)
Forwards Contracts*
Unrealized Appreciation		–			11,117			–		11,117
Unrealized Depreciation		–			(8,608	)		–		(8,608	)
OTC Swaps

Other Financial Instruments	Level 1 ($)		Level 2 ($)			Level 3 ($)		Total ($)
Interest Rate Swaps*
Unrealized Appreciation		–		845			–		845
Unrealized Depreciation		–		(947	)		–		(947	)
Centrally Cleared Swaps
Interest Rate Swaps*
Unrealized Appreciation		–		1,831			–		1,831
Unrealized Depreciation		–		(6,432	)		–		(6,432	)
Centrally Cleared Swaps
Credit Default Swaps*
Unrealized Depreciation		–		(75	)		–		(75	)
Total Other Financial Instruments		1,007		(2,269	)		–		(1,262	)

* Futures contracts, forwards contracts and swap contracts are valued at the unrealized appreciation (depreciation) on the instrument.

For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.

The following is a summary of the transactions with affiliates for the period ended March 31, 2022 ($ Thousands):

Security Description	Value 9/30/2021		Purchases at Cost		Proceeds from Sales			Realized Gain/ (Loss)		Change in Unrealized Appreciation		Value 3/31/2022		Shares		Income		Capital Gains
SEI Liquidity Fund, L.P.	$	51,021	$	183,568	$	(110,721	)	$	—	$	1	$	123,869		123,852,168	$	107	$	—

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

65

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STATEMENTS OF ASSETS AND LIABILITIES (Unaudited) ($ Thousands)

March 31, 2022

	International Equity Fund			Emerging Markets Equity Fund			International Fixed Income Fund		Emerging Markets Debt Fund
Assets:
Investments, at value †	$	4,185,877	*	$	1,700,475	*	$	539,157	$	1,347,444	*
Affiliated investments, at value ††		292,866			79,678			–		123,869
Cash		89,785			15,125			13,179		88,884
Cash pledged as collateral for futures contracts		8,039			2,834			199		4,098
Cash pledged as collateral for swap contracts		–			–			739		–
Foreign currency, at value †††		4,664			6,139			1,476		5,807
Receivable for fund shares sold		7,795			2,580			282		1,780
Receivable for investment securities sold		7,790			4,276			4,189		5,520
Dividends and interest receivable		15,476			5,791			3,528		20,634
Unrealized gain on forward foreign currency contracts		–			–			10,835		11,117
Unrealized gain on foreign spot currency contracts		50			1			70		72
Swap contracts, at value ††††		–			–			135		845
Foreign tax reclaim receivable		17,497			105			–		–
Receivable for variation margin		1			–			575		283
Prepaid expenses		63			26			5		21
Total Assets		4,629,903			1,817,030			574,369		1,610,374
Liabilities:
Payable upon return on securities loaned		205,002			39,487			–		123,863
Payable for investment securities purchased		26,283			6,338			11,529		29,262
Payable for fund shares redeemed		2,139			731			261		740
Swap contracts, at value ††††		–			–			–		947
Payable for variation margin		799			648			371		519
Administration fees payable		1,077			638			110		489
Unrealized loss on foreign currency spot contracts		–			–			37		89
Unrealized loss on forward foreign currency contracts		–			–			7,075		8,608
Trustees fees payable		1			–			–		–
Chief compliance officer fees payable		–			–			1		1
Administrative servicing fees payable		4			–			–		–
Shareholder servicing fees payable		429			332			109		271
Investment advisory fees payable		1,809			1,375			108		724
Accrued expense payable		908			864			194		529
Accrued foreign capital gains tax on appreciated securities		–			3,471			–		–
Total Liabilities		238,451			53,884			19,795		166,042
Net Assets	$	4,391,452		$	1,763,146		$	554,574	$	1,444,332
† Cost of investments	$	3,829,867		$	1,467,028		$	570,363	$	1,541,200
†† Cost of affiliated investments		292,850			79,673			–		123,867
††† Cost of foreign currency		4,625			6,169			1,467		6,090
†††† Cost (premiums received)		–			–			–		–
* Includes market value of securities on loan		194,135			32,812			–		115,613

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

67

STATEMENTS OF ASSETS AND LIABILITIES (Unaudited) ($ Thousands) (Concluded)

March 31, 2022

	International Equity Fund			Emerging Markets Equity Fund			International Fixed Income Fund			Emerging Markets Debt Fund
Net Assets:
Paid-in Capital — (unlimited authorization — no par value)	$	4,069,234		$	1,604,537		$	589,015		$	1,717,654
Total distributable earnings/(loss)		322,218			158,609			(34,441	)		(273,322	)
Net Assets	$	4,391,452		$	1,763,146		$	554,574		$	1,444,332
Net Asset Value, Offering and Redemption Price Per Share — Class F	$	11.20		$	11.82		$	9.75		$	8.86
		($4,013,606,358 ÷ 358,389,268 shares	)		($1,617,844,807 ÷ 136,867,221 shares	)		($476,492,910 ÷ 48,854,121 shares	)		($1,343,546,894 ÷ 151,623,844 shares	)
Net Asset Value, Offering and Redemption Price Per Share — Class I	$	11.23			N/A			N/A			N/A
		($1,013,817 ÷ 90,261 shares	)
Net Asset Value, Offering and Redemption Price Per Share — Class Y	$	11.19		$	11.82		$	9.78		$	8.82
		($376,831,545 ÷ 33,669,327 shares	)		($145,301,181 ÷ 12,290,541 shares	)		($78,081,086 ÷ 7,982,799 shares	)		($100,785,451 ÷ 11,430,427 shares	)

N/A — Not applicable. Share classes currently not offered.

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

68

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

STATEMENTS OF OPERATIONS (Unaudited) ($ Thousands)

For the six months ended March 31, 2022

	International Equity Fund			Emerging Markets Equity Fund			International Fixed Income Fund			Emerging Markets Debt Fund
Investment Income:
Dividends	$	65,166		$	26,579		$	–		$	–
Income from affiliated investments(1)		4			2			–			–
Interest Income		7			3			3,949			42,407
Security lending income — net(2)(3)		729			122			–			107
Less: foreign taxes withheld		(5,129	)		(4,526	)		(40	)		(1,255	)
Total Investment Income		60,777			22,180			3,909			41,259
Expenses:
Investment advisory fees		11,520			9,894			844			6,327
Administration fees		6,556			4,085			1,266			3,343
Shareholder servicing fees — Class F		5,214			2,166			607			1,731
Shareholder servicing fees — Class I		2			–			–			–
Administrative servicing fees — Class I		2			–			–			–
Printing fees		274			112			32			92
Custodian/wire agent fees		267			433			63			234
Professional fees		118			49			13			38
Registration fees		61			27			7			19
Trustees' fees		48			20			5			16
Chief compliance officer fees		4			2			1			4
Other expenses		131			70			80			115
Total Expenses		24,197			16,858			2,918			11,919
Less:
Waiver of investment advisory fees		–			(942	)		(124	)		(1,711	)
Waiver of administration fees		–			–			(13	)		(182	)
Waiver of shareholder servicing fees — Class F		(42	)		–			–			–
Net Expenses		24,155			15,916			2,781			10,026
Net Investment Income		36,622			6,264			1,128			31,233
Net Realized Gain (Loss) on:
Investments		27,749			(37,835	)		(269	)		(23,415	)
Affiliated investments		(1	)		(2	)		–			–
Futures contracts		(4,178	)		(3,446	)		4,049			(1,037	)
Swap contracts		–			–			43			(5,297	)
Foreign currency transactions		(2,279	)		(731	)		(2,872	)		(15,224	)
Forward foreign currency contracts		77			82			15,644			(7,068	)
Net Change in Unrealized Appreciation (Depreciation) on:
Investments		(306,255	)		(138,403	)		(36,679	)		(145,246	)
Affiliated investments		3			3			–			1
Futures contracts		2,968			2,594			(601	)		938
Swap contracts		–			–			(71	)		(2,149	)
Foreign capital gains tax on appreciated securities		–			3,441			–			–
Foreign currency translation of other assets and liabilities denominated in foreign currencies		(151	)		85			(43	)		(18	)
Forward foreign currency contracts		–			–			(3,002	)		4,738
Net Decrease in Net Assets Resulting from Operations	$	(245,445	)	$	(167,948	)	$	(22,673	)	$	(162,544	)

(1) See Note 5 in the Notes to Financial Statements for additional information.

(2) Income is from the investment of collateral in an affiliated security.

(3) See Note 9 in the Notes to Financial Statements for additional information.

Amounts designated as “—” are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

69

STATEMENTS OF CHANGES IN NET ASSETS ($ Thousands)

For the six months ended March 31, 2022 (Unaudited) and the year ended September 30, 2021

	International Equity Fund						Emerging Markets Equity Fund
		2022		2021				2022		2021
Operations:
Net investment income	$	36,622		$	55,096		$	6,264		$	14,850
Net realized gain (loss) on investments and futures contracts		23,570			557,784			(41,283	)		293,343
Net realized loss on forward foreign currency contracts and foreign currency transactions		(2,202	)		(2,233	)		(649	)		(260	)
Net change in unrealized appreciation (depreciation) on investments and futures contracts		(303,284	)		387,414			(135,806	)		6,208
Net change in unrealized appreciation (depreciation) on forward foreign currency contracts, foreign currencies and translation of other assets and liabilities denominated in foreign currencies		(151	)		(489	)		85			(71	)
Net change in unrealized appreciation (depreciation) on foreign capital tax gains on appreciated securities		—			—			3,441			(4,277	)
Net Increase (Decrease) in Net Assets Resulting from Operations		(245,445	)		997,572			(167,948	)		309,793
Distributions:
Class F		(554,286	)		(39,497	)		(155,826	)		(9,485	)
Class I		(205	)		(11	)		N/A			N/A
Class Y		(52,585	)		(4,488	)		(13,926	)		(1,168	)
Total Dividends		(607,076	)		(43,996	)		(169,752	)		(10,653	)
Capital Share Transactions:
Class F:
Proceeds from shares issued		352,193			531,002			165,594			306,949
Reinvestment of dividends & distributions		509,776			36,357			142,940			8,760
Cost of shares redeemed		(311,658	)		(764,767	)		(166,887	)		(346,741	)
Net Increase (Decrease) from Class F Transactions		550,311			(197,408	)		141,647			(31,032	)
Class I:
Proceeds from shares issued		71			114			N/A			N/A
Reinvestment of dividends & distributions		134			7			N/A			N/A
Cost of shares redeemed		(524	)		(195	)		N/A			N/A
Net Decrease from Class I Transactions		(319	)		(74	)		N/A			N/A
Class Y:
Proceeds from shares issued		31,598			43,805			15,895			25,446
Reinvestment of dividends & distributions		48,762			4,147			13,081			1,082
Cost of shares redeemed		(24,804	)		(65,413	)		(10,059	)		(31,587	)
Net Increase (Decrease) from Class Y Transactions		55,556			(17,461	)		18,917			(5,059	)
Net Increase (Decrease) in Net Assets Derived from Capital Share Transactions		605,548			(214,943	)		160,564			(36,091	)
Net Increase (Decrease) in Net Assets		(246,973	)		738,633			(177,136	)		263,049
Net Assets:
Beginning of Period		4,638,425			3,899,792			1,940,282			1,677,233
End of Period	$	4,391,452		$	4,638,425		$	1,763,146		$	1,940,282
Capital Share Transactions:
Class F:
Shares issued		28,939			40,400			12,864			20,901
Reinvestment of distributions		42,320			2,874			11,093			620
Shares redeemed		(25,596	)		(59,276	)		(12,667	)		(23,885	)
Total Class F Transactions		45,663			(16,002	)		11,290			(2,364	)
Class I:
Shares issued		5			9			N/A			N/A
Reinvestment of distributions		11			1			N/A			N/A
Shares redeemed		(45	)		(15	)		N/A			N/A
Total Class I Transactions		(29	)		(5	)		N/A			N/A
Class Y:
Shares issued		2,647			3,311			1,252			1,723
Reinvestment of distributions		4,046			328			1,014			77
Shares redeemed		(2,041	)		(5,021	)		(771	)		(2,163	)
Total Class Y Transactions		4,652			(1,382	)		1,495			(363	)
Net Increase (Decrease) in Shares Outstanding from Share Transactions		50,286			(17,389	)		12,785			(2,727	)

N/A — Not applicable. Share classes currently not offered.

Amounts designated as "—" are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

70

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

	International Fixed Income Fund						Emerging Markets Debt Fund
		2022		2021				2022		2021
Operations:
Net investment income	$	1,128		$	1,885		$	31,233		$	59,764
Net realized gain (loss) on investments, futures contracts and swap contracts		3,823			7,160			(29,749	)		22,487
Net realized gain (loss) on forward foreign currency contracts and foreign currency transactions		12,772			5,848			(22,292	)		(6,505	)
Net change in unrealized depreciation on investments, futures contracts, option contracts and swap contracts		(37,351	)		(21,811	)		(146,456	)		(9,095	)
Net change in unrealized appreciation (depreciation) on forward foreign currency contracts, foreign currencies and translation of other assets and liabilities denominated in foreign currencies		(3,045	)		2,651			4,720			3,916
Net Increase (Decrease) in Net Assets Resulting from Operations		(22,673	)		(4,267	)		(162,544	)		70,567
Distributions:
Class F		(10,083	)		(129	)		(22,758	)		(27,983	)
Class Y		(1,763	)		(20	)		(2,051	)		(2,564	)
Total Dividends		(11,846	)		(149	)		(24,809	)		(30,547	)
Capital Share Transactions:
Class F:
Proceeds from shares issued		55,240			119,835			169,327			234,390
Reinvestment of dividends & distributions		9,344			119			20,408			25,224
Cost of shares redeemed		(43,570	)		(76,680	)		(105,798	)		(238,050	)
Net Increase from Class F Transactions		21,014			43,274			83,937			21,564
Class Y:
Proceeds from shares issued		8,651			18,226			12,039			18,734
Reinvestment of dividends & distributions		1,627			18			1,913			2,391
Cost of shares redeemed		(3,758	)		(10,071	)		(7,345	)		(15,003	)
Net Increase from Class Y Transactions		6,520			8,173			6,607			6,122
Net Increase in Net Assets Derived from Capital Share Transactions		27,534			51,447			90,544			27,686
Net Increase (Decrease) in Net Assets		(6,985	)		47,031			(96,809	)		67,706
Net Assets:
Beginning of Period		561,559			514,528			1,541,141			1,473,435
End of Period	$	554,574		$	561,559		$	1,444,332		$	1,541,141
Capital Share Transactions:
Class F:
Shares issued		5,447			11,494			18,171			22,842
Reinvestment of distributions		915			11			2,083			2,489
Shares redeemed		(4,314	)		(7,341	)		(11,085	)		(23,157	)
Total Class F Transactions		2,048			4,164			9,169			2,174
Class Y:
Shares issued		852			1,742			1,307			1,830
Reinvestment of distributions		159			2			196			237
Shares redeemed		(368	)		(962	)		(777	)		(1,463	)
Total Class Y Transactions		643			782			726			604
Net Increase in Shares Outstanding from Share Transactions		2,691			4,946			9,895			2,778

Amounts designated as "—" are $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

71

FINANCIAL HIGHLIGHTS

For the six months ended March 31, 2022 (Unaudited) and the years ended September 30

For a Share Outstanding Throughout Each Year or Period

	Net Asset Value, Beginning of Period		Net Investment Income (Loss)(1)		Net Realized and Unrealized Gains (Losses) on Investments			Total from Operations			Dividends from Net Investment Income			Distributions from Net Realized Gains			Total Dividends and Distributions			Net Asset Value, End of Period		Total Return†			Net Assets End of Period ($ Thousands)		Ratio of Net Expenses to Average Net Assets*			Ratio of Expenses to Average Net Assets (Excluding Waivers)**			Ratio of Net Investment Income (Loss) to Average Net Assets			Portfolio Turnover Rate†
International Equity Fund
Class F(2)
2022@	$	13.57	$	0.10	$	(0.73	)	$	(0.63	)	$	(0.23	)	$	(1.51	)	$	(1.74	)	$	11.20		(5.36	)%	$	4,013,606		1.08	%		1.08	%		1.58	%		46	%
2021		10.86		0.16		2.67			2.83			(0.12	)		—			(0.12	)		13.57		26.18			4,242,911		1.08			1.08			1.19			105
2020		10.68		0.10		0.28			0.38			(0.20	)		—			(0.20	)		10.86		3.44			3,568,373		1.11			1.11			0.94			102
2019		11.38		0.20		(0.75	)		(0.55	)		(0.15	)		—			(0.15	)		10.68		(4.63	)		3,686,195		1.10			1.10			1.92			73
2018		11.29		0.16		0.08			0.24			(0.15	)		—			(0.15	)		11.38		2.11			4,024,987		1.09			1.09			1.35			40
2017		9.58		0.13		1.69			1.82			(0.11	)		—			(0.11	)		11.29		19.23			3,795,858		1.15	(3)		1.15			1.27			57
Class I
2022@	$	13.59	$	0.07	$	(0.66	)	$	(0.59	)	$	(0.26	)	$	(1.51	)	$	(1.77	)	$	11.23		(5.51	)%	$	1,014		1.33	%		1.33	%		1.16	%		46	%
2021		10.87		0.12		2.69			2.81			(0.09	)		—			(0.09	)		13.59		25.91			1,611		1.33			1.33			0.93			105
2020		10.68		0.07		0.28			0.35			(0.16	)		—			(0.16	)		10.87		3.19			1,350		1.36			1.36			0.63			102
2019		11.37		0.17		(0.74	)		(0.57	)		(0.12	)		—			(0.12	)		10.68		(4.90	)		1,932		1.35			1.35			1.61			73
2018		11.27		0.12		0.09			0.21			(0.11	)		—			(0.11	)		11.37		1.86			2,662		1.34			1.34			1.06			40
2017		9.55		0.10		1.70			1.80			(0.08	)		—			(0.08	)		11.27		19.00			2,954		1.40	(4)		1.40			0.96			57
Class Y
2022@	$	13.58	$	0.11	$	(0.79	)	$	(0.68	)	$	(0.20	)	$	(1.51	)	$	(1.71	)	$	11.19		(5.29	)%	$	376,832		0.83	%		0.83	%		1.84	%		46	%
2021		10.86		0.19		2.68			2.87			(0.15	)		—			(0.15	)		13.58		26.55			393,903		0.83			0.83			1.44			105
2020		10.68		0.12		0.29			0.41			(0.23	)		—			(0.23	)		10.86		3.68			330,069		0.86			0.86			1.16			102
2019		11.39		0.23		(0.76	)		(0.53	)		(0.18	)		—			(0.18	)		10.68		(4.43	)		370,462		0.85			0.85			2.24			73
2018		11.31		0.18		0.09			0.27			(0.19	)		—			(0.19	)		11.39		2.40			344,977		0.84			0.84			1.60			40
2017		9.59		0.16		1.69			1.85			(0.13	)		—			(0.13	)		11.31		19.59			319,689		0.90	(5)		0.90			1.53			57
Emerging Markets Equity Fund
Class F(2)
2022@	$	14.23	$	0.04	$	(1.22	)	$	(1.18	)	$	(0.15	)	$	(1.08	)	$	(1.23	)	$	11.82		(8.91	)%	$	1,617,845		1.71	%		1.81	%		0.64	%		41	%
2021		12.06		0.11		2.14			2.25			(0.08	)		—			(0.08	)		14.23		18.63			1,786,493		1.70			1.80			0.73			100
2020		11.21		0.05		0.93			0.98			(0.13	)		—			(0.13	)		12.06		8.75			1,542,551		1.71			1.81			0.43			90
2019		11.47		0.10		(0.29	)		(0.19	)		(0.07	)		—			(0.07	)		11.21		(1.64	)		1,564,523		1.70			1.81			0.92			89
2018		12.32		0.08		(0.77	)		(0.69	)		(0.16	)		—			(0.16	)		11.47		(5.71	)		1,668,960		1.69			1.80			0.61			70
2017		10.09		0.07		2.24			2.31			(0.08	)		—			(0.08	)		12.32		23.10			1,821,009		1.74	(6)		1.82			0.65			66
Class Y
2022@	$	14.25	$	0.06	$	(1.23	)	$	(1.17	)	$	(0.18	)	$	(1.08	)	$	(1.26	)	$	11.82		(8.81	)%	$	145,301		1.46	%		1.56	%		0.89	%		41	%
2021		12.07		0.14		2.15			2.29			(0.11	)		—			(0.11	)		14.25		18.96			153,789		1.45			1.55			0.98			100
2020		11.22		0.08		0.93			1.01			(0.16	)		—			(0.16	)		12.07		8.99			134,682		1.46			1.56			0.66			90
2019		11.49		0.14		(0.31	)		(0.17	)		(0.10	)		—			(0.10	)		11.22		(1.44	)		145,600		1.45			1.56			1.25			89
2018		12.35		0.11		(0.76	)		(0.65	)		(0.21	)		—			(0.21	)		11.49		(5.46	)		125,594		1.44			1.55			0.89			70
2017		10.11		0.10		2.24			2.34			(0.10	)		—			(0.10	)		12.35		23.46			125,400		1.49	(7)		1.57			0.93			66

@	For the six-month period ended March 31, 2022. All ratios for the period have been annualized.
†	Returns and portfolio turnover rates are for the period indicated and have not been annualized. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
*	Includes Fees Paid Indirectly, if applicable. There was no impact to the expense ratios. See Note 5 in Notes to Financial Statements
**	See Note 5 in Notes to Financial Statements.
(1)	Per share net investment income calculated using average shares.
(2)	Effective January 31, 2017, Class A Shares converted to Class F Shares of the same Fund.
(3)	The expense ratio includes overdraft fees. Had this expense been excluded the ratio would have been 1.15%.
(4)	The expense ratio includes overdraft fees. Had this expense been excluded the ratio would have been 1.40%.
(5)	The expense ratio includes overdraft fees. Had this expense been excluded the ratio would have been 0.90%.
(6)	The expense ratio includes overdraft fees. Had this expense been excluded the ratio would have been 1.74%.
(7)	The expense ratio includes overdraft fees. Had this expense been excluded the ratio would have been 1.49%.

Amounts designated as “—” are either $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

72

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

FINANCIAL HIGHLIGHTS

For the six months ended March 31, 2022 (Unaudited) and the years ended September 30

For a Share Outstanding Throughout Each Year or Period

	Net Asset Value, Beginning of Period		Net Investment Income (Loss)(1)		Net Realized and Unrealized Gains (Losses) on Investments			Total from Operations			Dividends from Net Investment Income			Distributions from Net Realized Gains			Total Dividends and Distributions			Net Asset Value, End of Period		Total Return†			Net Assets End of Period ($ Thousands)		Ratio of Net Expenses to Average Net Assets*			Ratio of Expenses to Average Net Assets (Excluding Waivers)**			Ratio of Net Investment Income (Loss) to Average Net Assets			Portfolio Turnover Rate†
International Fixed Income Fund
Class F(2)
2022@	$	10.37	$	0.02	$	(0.43	)	$	(0.41	)	$	(0.08	)	$	(0.13	)	$	(0.21	)	$	9.75		(4.05	)%	$	476,493		1.02	%		1.07	%		0.37	%		23	%
2021		10.46		0.03		(0.12	)		(0.09	)		—			—	^		—			10.37		(0.83	)		485,178		1.02			1.07			0.32			65
2020		10.73		0.03		0.04			0.07			(0.26	)		(0.08	)		(0.34	)		10.46		0.73			445,864		1.02			1.08			0.29			64
2019		10.27		0.04		0.88			0.92			(0.40	)		(0.06	)		(0.46	)		10.73		9.28			452,150		1.02			1.07			0.42			58
2018		10.13		0.07		0.07			0.14			—			—			—			10.27		1.38			438,908		1.02			1.07			0.66			71
2017		10.51		0.07		(0.18	)		(0.11	)		(0.17	)		(0.10	)		(0.27	)		10.13		(1.03	)		415,582		1.02	(3)		1.08			0.66			113
Class Y
2022@	$	10.41	$	0.03	$	(0.43	)	$	(0.40	)	$	(0.10	)	$	(0.13	)	$	(0.23	)	$	9.78		(3.90	)%	$	78,081		0.77	%		0.82	%		0.62	%		23	%
2021		10.47		0.06		(0.12	)		(0.06	)		—			—	^		—			10.41		(0.54	)		76,381		0.77			0.82			0.57			65
2020		10.75		0.06		0.03			0.09			(0.29	)		(0.08	)		(0.37	)		10.47		0.88			68,664		0.77			0.83			0.54			64
2019		10.29		0.07		0.88			0.95			(0.43	)		(0.06	)		(0.49	)		10.75		9.54			69,681		0.77			0.82			0.66			58
2018		10.12		0.09		0.08			0.17			—			—			—			10.29		1.68			43,003		0.77			0.82			0.91			71
2017		10.50		0.09		(0.17	)		(0.08	)		(0.20	)		(0.10	)		(0.30	)		10.12		(0.76	)		37,982		0.77	(4)		0.83			0.94			113
Emerging Markets Debt Fund
Class F(2)
2022@	$	10.06	$	0.20	$	(1.24	)	$	(1.04	)	$	(0.16	)	$	—		$	(0.16	)	$	8.86		(10.50	)%	$	1,343,547		1.36	%		1.62	%		4.18	%		40	%
2021		9.80		0.40		0.06			0.46			(0.20	)		—			(0.20	)		10.06		4.71			1,433,739		1.36			1.61			3.87			91
2020		9.93		0.40		(0.45	)		(0.05	)		(0.08	)		—			(0.08	)		9.80		(0.53	)		1,374,566		1.36			1.61			4.07			95
2019		9.30		0.47		0.32			0.79			(0.16	)		—			(0.16	)		9.93		8.51			1,483,467		1.36			1.62			4.93			114
2018		10.55		0.51		(1.19	)		(0.68	)		(0.57	)		—			(0.57	)		9.30		(6.81	)		1,451,128		1.36			1.61			5.08			80
2017		10.08		0.51		0.17			0.68			(0.21	)		—			(0.21	)		10.55		6.93			1,458,611		1.36	(5)		1.63			5.06			79
Class Y
2022@	$	10.03	$	0.21	$	(1.23	)	$	(1.02	)	$	(0.19	)	$	—		$	(0.19	)	$	8.82		(10.35	)%	$	100,785		1.11	%		1.37	%		4.43	%		40	%
2021		9.79		0.42		0.07			0.49			(0.25	)		—			(0.25	)		10.03		4.98			107,402		1.11			1.36			4.12			91
2020		9.92		0.42		(0.45	)		(0.03	)		(0.10	)		—			(0.10	)		9.79		(0.33	)		98,869		1.11			1.36			4.33			95
2019		9.28		0.50		0.32			0.82			(0.18	)		—			(0.18	)		9.92		8.84			111,948		1.11			1.37			5.18			114
2018		10.57		0.53		(1.18	)		(0.65	)		(0.64	)		—			(0.64	)		9.28		(6.57	)		113,872		1.11			1.36			5.34			80
2017		10.12		0.53		0.17			0.70			(0.25	)		—			(0.25	)		10.57		7.18			108,361		1.11	(6)		1.38			5.31			79

@	For the six-month period ended March 31, 2022. All ratios for the period have been annualized.
†	Returns and portfolio turnover rates are for the period indicated and have not been annualized. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares.
*	Includes Fees Paid Indirectly, if applicable. There was no impact to the expense ratios. See Note 5 in Notes to Financial Statements
**	See Note 5 in Notes to Financial Statements.
^	Amount represents less than $0.005.
(1)	Per share net investment income calculated using average shares.
(2)	Effective January 31, 2017, Class A Shares converted to Class F Shares of the same Fund.
(3)	The expense ratio includes overdraft fees. Had this expense been excluded the ratio would have been 1.02%.
(4)	The expense ratio includes overdraft fees. Had this expense been excluded the ratio would have been 0.77%.
(5)	The expense ratio includes overdraft fees. Had this expense been excluded the ratio would have been 1.36%.
(6)	The expense ratio includes overdraft fees. Had this expense been excluded the ratio would have been 1.11%.

Amounts designated as “—” are either $0 or have been rounded to $0.

The accompanying notes are an integral part of the financial statements.

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

73

NOTES TO FINANCIAL STATEMENTS

March 31, 2022 (Unaudited)

1. ORGANIZATION

SEI Institutional International Trust (the “Trust”) was organized as a Massachusetts business trust under a Declaration of Trust dated June 30, 1988.

The Trust is registered under the Investment Company Act of 1940, as amended, as an open-end investment company with four funds: International Equity Fund, Emerging Markets Equity Fund, International Fixed Income Fund and Emerging Markets Debt Fund (together the “Funds”) each of which are diversified Funds with the exception of the International Fixed Income Fund and the Emerging Markets Debt Fund. Each Fund’s prospectus provides a description of its investment goal, principal investment strategies and risks. The Trust is registered to offer Class F (formerly Class A) and Class Y shares of each of the Funds and Class I shares of the International Equity Fund.

2. SIGNIFICANT ACCOUNTING POLICIES

The following are significant accounting policies, which are consistently followed in the preparation of its financial statements by the Funds. The Funds are investment companies that apply the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board (“FASB”).

Use of Estimates — The Funds are investment companies in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Therefore, the Funds follow the accounting and reporting guidelines for investment companies. The preparation of financial statements, in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

Security Valuation — When valuing portfolio securities, a Fund values securities listed on a securities exchange, market or automated quotation system for which quotations are readily available (other than securities traded on National Association of Securities Dealers Automated Quotations (NASDAQ) or as otherwise noted below) at the last quoted sale price on an exchange or market (foreign or domestic) on which the securities are traded or, if there is no such reported sale, at the most recent quoted bid price. A Fund values securities traded on NASDAQ at the NASDAQ Official Closing Price. If available, debt securities, swaps (which are not centrally cleared), bank loans or collateralized debt obligations (including collateralized loan obligations), such as those held by the Funds, are priced based upon valuations provided by independent, third-party pricing agents.

Such values generally reflect the last reported sales price if the security is actively traded. The third-party pricing agents may also value debt securities at an evaluated bid price by employing methodologies that utilize actual market transactions, broker-supplied valuations or other methodologies designed to identify the market value for such securities. Redeemable securities issued by open-end investment companies are valued at the investment company’s applicable Net Asset Value (“NAV”) per share, with the exception of ETFs, which are priced as equity securities. These open-end investment companies’ shares are offered in separate prospectuses, each of which describes the process by which the applicable investment company’s NAV is determined. The prices of foreign securities are reported in local currency and converted to U.S. dollars using currency exchange rates. If a security’s price cannot be obtained, as noted above, a Fund will value the securities using a bid price from at least one independent broker.

On the first day a new debt security purchase is recorded, if a price is not available from a third-party pricing agent or an independent broker, the security may be valued at its purchase price. Each day thereafter, the debt security will be valued according to the Funds’ Fair Value Pricing Policies and Procedures (“Fair Value Procedures”) until an independent source can be secured. Debt securities held by a Fund with remaining maturities of 60 days or less will be valued by the amortized cost method, which involves valuing a security at its cost on the date of purchase and thereafter (absent unusual circumstances) assuming a constant amortization to maturity of any discount or premium, regardless of the impact of fluctuations in general market rates of interest on the value of the instrument. While this method provides certainty in valuation, it may result in periods during which value, as determined by this method, is higher or lower than the price the Fund would receive if it sold the instrument, and the value of securities in the Fund can be expected to vary inversely with changes in prevailing interest rates. Should existing credit, liquidity or interest rate conditions in the relevant markets and issuer specific circumstances suggest that amortized cost does not approximate fair value, then the amortized cost method may not be used.

Options are valued at the last quoted sales price. If there is no such reported sale on the valuation date, long positions are valued at the most recent bid price, and short positions are valued at the most recent ask price. Futures and swaps cleared through a central clearing house (“centrally cleared swaps”) are valued at the settlement price established each day by the board of exchange on which they are traded. The daily settlement

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prices for financial futures and centrally cleared swaps are provided by an independent source. On days when there is excessive volume, market volatility or the future or centrally cleared swap does not end trading by the time the Fund calculates its NAV, the settlement price may not be available at the time at which a Fund calculates its NAV. On such days, the best available price (which is typically the last sales price) may be used to value a Fund’s futures or centrally cleared swaps position.

Foreign currency forward contracts are valued at the current day’s interpolated foreign exchange rate, as calculated using forward rates provided by an independent source.

Prices for most securities held by a Fund are provided daily by third-party independent pricing agents. SEI Investments Management Corporation (“SIMC”) or a Sub-Adviser (“Sub-Adviser”), as applicable, reasonably believes that prices provided by independent pricing agents are reliable. However, there can be no assurance that such pricing service’s prices will be reliable. SIMC or a Sub-Adviser, as applicable, will continuously monitor the reliability of prices obtained from any pricing service and shall promptly notify the Funds’ administrator if it believes that a particular pricing service is no longer a reliable source of prices. The Funds’ administrator, in turn, will notify the Fair Value Pricing Committee (the “Committee”) if it receives such notification from SIMC or a Sub-Adviser, as applicable, or if the Funds’ administrator reasonably believes that a particular pricing service is no longer a reliable source for prices.

The Funds’ Fair Value Procedures provide that any change in a primary pricing agent or a pricing methodology requires prior approval by the Board of Trustees (“Board”) or its designated committee. However, when the change would not materially affect the valuation of a Fund’s net assets or involve a material departure in pricing methodology from that of a Fund’s existing pricing agent or pricing methodology, ratification may be obtained at the next regularly scheduled meeting of the Board.

Securities for which market prices are not “readily available" are determined to be unreliable or cannot be valued using the methodologies described above are valued in accordance with Fair Value Procedures established by the Board. The Funds’ Fair Value Procedures are implemented through the Committee designated by the Board. The Committee is currently composed of one member of the Board, as well as representatives from SIMC and its affiliates. Some of the more common reasons that may necessitate that a security be valued using Fair Value Procedures include: (i) the security’s trading has been halted or suspended, (ii) the security has been delisted from a national exchange, (iii) the security’s primary trading market is temporarily closed at a time when under

normal conditions it would be open, or (iv) the security’s primary pricing source is not able or willing to provide a price. When a security is valued in accordance with the Fair Value Procedures, the Committee will determine the value after taking into consideration relevant information reasonably available to the Committee. Examples of factors the Committee may consider include: (i) the facts giving rise to the need to fair value, (ii) the last trade price, (iii) the performance of the market or the issuer’s industry, (iv) the liquidity of the security, (v) the size of the holding in a Fund; or (vi) any other appropriate information.

The determination of a security’s fair value price often involves the consideration of a number of subjective factors and is therefore subject to the unavoidable risk that the value assigned to a security may be higher or lower than the security’s value would be if a reliable market quotation for the security was readily available.

The International Equity and Emerging Markets Equity Funds use a third-party fair valuation vendor. The vendor provides a fair value for foreign securities held by the International Equity and Emerging Markets Equity Funds based on certain factors and methodologies (involving, generally, tracking valuation correlations between the U.S. market and each non-U.S. security). Values from the vendor are applied in the event that there is a movement in the U.S. market that exceeds a specific threshold that has been established by the Committee. The Committee has also established a “confidence interval,” which is used to determine the level of historical correlation between the value of a specific foreign security and movements in the U.S. market before a particular security will be fair-valued when the threshold is exceeded. In the event that the threshold established by the Committee is exceeded on a specific day, the International Equity and Emerging Markets Equity Funds shall value the non-U.S. securities in their portfolios that exceed the applicable “confidence interval” based upon the adjusted prices provided by the vendor. Additionally, if a local market in which the International Equity or Emerging Markets Equity Funds own securities is closed for one or more days (scheduled or unscheduled) while the Fund is open, and if such securities in a Fund’s portfolio exceed the predetermined confidence interval discussed above, then such Fund shall value such securities based on the fair value prices provided by the vendor.

For securities that principally trade on a foreign market or exchange, a significant gap in time can exist between the time of a particular security’s last trade and the time

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

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NOTES TO FINANCIAL STATEMENTS (Continued)

March 31, 2022 (Unaudited)

at which a Fund calculates its NAV. The closing prices of such securities may no longer reflect their market value at the time a Fund calculates NAV if an event that could materially affect the value of those securities (a “Significant Event”), including substantial fluctuations in domestic or foreign markets or occurrences not tied directly to the securities markets, such as natural disasters, armed conflicts or significant governmental actions, has occurred between the time of the security’s last close and the time that a Fund calculates NAV. A Fund may invest in securities that are primarily listed on foreign exchanges that trade on weekends or other days when the Fund does not price its shares. As a result, the NAV of the Fund’s shares may change on days when shareholders will not be able to purchase or redeem Fund shares.

A Significant Event may relate to a single issuer or to an entire market sector. If SIMC or a Sub-Adviser becomes aware of a Significant Event that has occurred with respect to a security or group of securities after the closing of the exchange or market on which the security or securities principally trade, but before the time at which a Fund calculates NAV, it may request that a Committee meeting be called. In addition, with respect to certain securities, the Funds’ administrator performs price comparisons and price movement review (among other processes), to monitor the pricing data supplied by various sources. Any identified discrepancies are researched and subject to the procedures described above.

In accordance with U.S. GAAP, fair value is defined as the price that the Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. A three-tier hierarchy has been established to maximize the use of the observable market data and minimize the use of unobservable inputs and to establish classification of the fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing an asset. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.

The three-tier hierarchy of inputs is summarized in the three broad Levels listed 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, credit risks, etc.)

Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

Investments are classified within the level of the lowest significant input considered in determining fair value. Investments classified within Level 3 whose fair value measurement considers several inputs may include Level 1 or Level 2 inputs as components of the overall fair value measurement.

The valuation techniques used by the Funds to measure fair value during the six months ended March 31, 2022 maximized the use of observable inputs and minimized the use of unobservable inputs.

For the six months ended March 31, 2022, there have been no significant changes to the inputs or the Trust’s fair valuation methodologies.

Security Transactions and Investment Income — Security transactions are recorded on the trade date. Cost used in determining net realized capital gains and losses on the sale of securities is determined on the basis of specific identification. Dividend income and expense is recognized on the ex-dividend date, and interest income or expense is recognized using the accrual basis of accounting.

Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/ or as a realized gain. The Trust estimates the components of distributions received that may be considered nontaxable distributions or capital gain distributions.

Amortization and accretion is calculated using the scientific interest method, which is not materially different from the effective interest method. Amortization of premiums and discounts is included in interest income.

Cash and Cash Equivalents — Idle cash and currency balances may be swept into various overnight sweep accounts and are classified as cash and cash equivalents on the Statement of Assets and Liabilities. These amounts, at times, may exceed United States federally insured limits. Amounts swept are available on the next business day.

Expenses — Expenses that are directly related to one of the Funds are charged directly to that Fund. Other

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operating expenses of the Trust are prorated to the Funds on the basis of relative daily net assets.

Classes —Class-specific expenses are borne by that class. Income, non-class specific expenses, and realized and unrealized gains/losses are allocated to the respective classes on the basis of relative daily net assets.

Foreign Currency Translation — The books and records of the Funds investing in international securities are maintained in U.S. dollars on the following basis:

(i) market value of investment securities, assets and liabilities at the current rate of exchange; and

(ii) purchases and sales of investment securities, income and expenses at the relevant rates of exchange prevailing on the respective dates of such transactions.

The Funds do not isolate that portion of gains and losses on investments in investment securities that is due to changes in the foreign exchange rates from that which is due to changes in market prices of investment securities.

The Funds report certain foreign-currency-related transactions as components of realized gains for financial reporting purposes, whereas such components are treated as ordinary income for Federal income tax purposes.

Forward Foreign Currency Contracts — To the extent consistent with its investment objective and strategies, a Fund may enter into forward foreign currency contracts as hedges against either specific transactions, fund positions, speculative purposes or anticipated fund positions. All commitments are “marked-to-market” daily at the applicable foreign exchange rate, and any resulting unrealized gains or losses are recorded currently. The Fund realizes gains and losses at the time forward contracts are extinguished. Unrealized gains or losses on outstanding positions in forward foreign currency contracts held at the close of the period are recognized as ordinary income or loss for federal income tax purposes. The Fund could be exposed to risk if the counterparties to the contracts are unable to meet the terms of the contract and from unanticipated movements in the value of a foreign currency relative to the U.S. dollar.

Finally, the risk exists that losses could exceed amounts disclosed on the Statement of Assets and Liabilities. Refer to each Fund’s Schedule of Investments for details regarding open forward foreign currency contracts as of March 31, 2022, if applicable.

Futures Contracts — To the extent consistent with its investment objective and strategies, the Funds may purchase futures contracts to gain exposure to market changes, which may be more efficient or cost effective than actually buying the securities. To the extent consistent with its investment objective and strategies, a Fund may utilize futures contracts for tactical hedging purposes as

well as to enhance the Funds’ returns and may also utilize futures contracts to efficiently assist in managing the Funds’ duration and yield curve exposure. Upon entering into such a contract, a Fund is required to deposit and maintain as collateral such initial margin as required by the exchange on which the contract is held. The contracts are marked to market daily and the resulting changes in value are accounted for as unrealized gains and losses. Variation margin payments are paid or received, depending upon whether unrealized losses or gains are incurred. When the contract is closed, the Funds record a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the amount invested in the contract.

Risks of entering into futures contracts include the possibility that there will be an imperfect price correlation between the futures and the underlying securities. Second, it is possible that a lack of liquidity for futures contracts could exist in the secondary market, resulting in an inability to close a position prior to its maturity date. Third, the futures contract involves the risk that a Fund could lose more than the original margin deposit required to initiate a futures transaction.

Finally, the risk exists that losses could exceed amounts disclosed on the Statement of Assets and Liabilities. Refer to each Fund’s Schedule of Investments for details regarding open futures contracts as of March 31, 2022, if applicable.

Options/Swaptions Written/Purchased — To the extent consistent with its investment objective and strategies, a Fund may invest in financial options/swaptions contracts for the purpose of hedging its existing portfolio securities, or securities that a Fund intends to purchase, against fluctuations in fair market value caused by changes in prevailing market interest rates. A Fund may also invest in financial option/swaption contracts to enhance its returns. When the Fund writes or purchases an option/swaption, an amount equal to the premium received or paid by the Fund is recorded as a liability or an asset and is subsequently adjusted to the current market value of the option/swaption written or purchased. Premiums received or paid from writing or purchasing options/swaptions which expire unexercised are treated by the Fund on the expiration date as realized gains or losses. The difference between the premium and the amount paid or received on effecting a closing purchase or sale transaction, including brokerage commissions, is also treated as a

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

77

NOTES TO FINANCIAL STATEMENTS (Continued)

March 31, 2022 (Unaudited)

realized gain or loss. If an option/swaption is exercised, the premium paid or received is added to the cost of the purchase or proceeds from the sale in determining whether the Fund has realized a gain or a loss.

The risk in writing a call option/swaption is a Fund may give up the opportunity for profit if the market price of the security increases. The risk in writing a put option/swaption is a Fund may incur a loss if the market price of the security decreases and the option/swaption is exercised. The risk in purchasing an option/swaption is a Fund may pay a premium whether or not the option/swaption is exercised. The Funds also have the additional risk of being unable to enter into a closing transaction at an acceptable price if a liquid secondary market does not exist. Option/swaption contracts also involve the risk that they may not work as intended due to unanticipated developments in market conditions or other causes.

Finally, the risk exists that losses on written options could exceed amounts disclosed on the Statements of Assets and Liabilities. Refer to each Fund’s Schedule of Investments for details regarding open option/swaption contracts as of March 31, 2022, if applicable.

Swap Agreements — To the extent consistent with its investment objective and strategies, a Fund may invest in swap contracts as an efficient means to take and manage risk in the portfolio, including interest rate risk, credit risk and overall yield sensitivity. A swap agreement is a two-party contract under which an agreement is made to exchange returns from predetermined investments or instruments, including a particular interest rate, foreign currency, or “basket” of securities representing a particular index. Swap agreements are privately negotiated in the over-the-counter market (“OTC swaps”) or may be executed in a multilateral or other trade facility platform, such as a registered commodities exchange (“Centrally Cleared swaps”). Interest rate swaps involve the exchange by a Fund with another party of their respective commitments to pay or receive interest (e.g., an exchange of floating rate payments for fixed rate payments) with respect to a notional amount of principal. Credit default swaps involve the periodic payment by a Fund or counterparty of interest based on a specified rate multiplied by a notional amount assigned to an underlying debt instrument or group of debt instruments in exchange for the assumption of credit risk on the same instruments. In the event of a credit event, usually in the form of a credit rating downgrade, the party receiving periodic payments (i.e. floating rate payer) must pay the other party (i.e. fixed rate payer) an amount equal to the outstanding principal of the downgraded debt instrument. Total return swaps allow an investor to benefit from the cash flow without ever actually owning the underlying security. The receiver must pay any decline in value to the payer at the end of the total return swap.

However, the investor does not need to make a payment if there is no decline in price. Payments can be made on various indices, bonds (i.e. mortgage backed securities, bank debt and corporate), loans or commodities. The value of a total return swap is equal to the change in value of the underlying asset versus the accrued income payment based on LIBOR (London Interbank Offered Rate) or some other form of index on the notional amount. Interest rate swaps involve the exchange by a Fund with another party of their respective commitments to pay or receive interest (e.g., an exchange of floating rate payments for fixed rate payments) with respect to a notional amount of principal to manage a Fund’s exposure to interest rates. Payments received or made are recorded as realized gains or losses. A Fund could be exposed to credit or market risk due to unfavorable changes in the fluctuation of interest rates or if the counterparty defaults on its obligation to perform. Risk of loss may exceed amounts recognized on the statement of assets and liabilities. In connection with swap agreements, securities/cash may be set aside as collateral by the Fund’s custodian. A Fund may enter into swap agreements in order to, among other things, change the maturity or duration of the investment portfolio; protect a Fund’s value from changes in interest rates; or expose a Fund to a different security or market.

Swaps are marked-to-market daily based upon quotations from market makers and the resulting changes in market values, if any, are recorded as unrealized gains or losses in the Statement of Operations. Centrally cleared swaps are valued at the settlement price established each day by the board of exchange on which they are traded. The daily settlement prices for centrally cleared swaps are provided by an independent source. Net payments of interest are recorded as realized gains or losses. Daily changes in valuation of Centrally Cleared swaps, if any, are recorded as a receivable or payable for the change in value as appropriate (“variation margin”) on the Statements of Assets and Liabilities.

Entering into swap agreements involves, to varying degrees, elements of credit and market risk in excess of the amounts recognized on the Schedule of Investments or the Statement of Assets and Liabilities. Such risks involve the possibility that there will be no liquid market for these agreements, that the counterparty to the agreement may default on its obligation to perform and that there may be unfavorable changes in the fluctuation of interest rates. Risks also arise from potential losses from adverse market movements.

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SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Counterparty risk may be mitigated by having a master netting arrangement between a Fund and the counterparty and by having the counterparty post collateral to cover a Fund’s exposure to the counterparty. Refer to each Fund’s Schedule of Investments for details regarding open swap contracts as of March 31, 2022, if applicable.

Delayed Delivery Transactions — A Fund may purchase or sell securities on a when-issued or delayed delivery basis. These transactions involve a commitment by the Fund to purchase or sell securities for a predetermined price or yield, with payment and delivery taking place beyond the customary settlement period. When delayed delivery purchases are outstanding, the Fund will set aside liquid assets in an amount sufficient to meet the purchase price. When purchasing a security on a delayed delivery basis, the Fund assumes the rights and risks of ownership of the security, including the risk of price and yield fluctuations, and takes such fluctuations into account when determining its net asset value. The Fund may dispose of or renegotiate a delayed delivery transaction after it is entered into, and may sell when-issued securities before they are delivered, which may result in a capital gain or loss. When the Fund has sold a security on a delayed delivery basis, the Fund does not participate in future gains and losses with respect to the security.

Loan Participations and Brady Bonds — To the extent consistent with its investment objective and strategies, a Fund may invest in U.S. dollar-denominated fixed- and floating-rate loans (“Loans”) arranged through private negotiations between a foreign sovereign entity and one or more financial institutions (“Lenders”). The Fund invests in such Loans in the form of participations in Loans (“Participations”) or assignments of all or a portion of Loans from third parties. Participations typically result in a Fund having a contractual relationship only with the Lenders, not with the sovereign borrowers. The Fund has the right to receive payments of principal, interest and any fees to which it is entitled from the Lender selling the Participation and only upon receipt by the Lender of the payments from the borrower. In connection with purchasing Participations, the Fund generally has no right to enforce compliance by the borrower with the terms of the loan agreement relating to the Loan, nor any rights of set-off against the borrower, and the Fund will not benefit directly from any collateral supporting the Loan in which it has purchased the Participation. As a result, the Fund assumes the credit risk of both the borrower and the Lender that is selling the Participation.

Certain debt obligations, customarily referred to as “Brady Bonds”, are created through the exchange of existing commercial bank loans to foreign entities for new obligations in connection with debt restructuring under a plan introduced by former U.S. Secretary of the Treasury Nicholas F. Brady. Brady Bonds have only been issued

since 1989, and, accordingly, do not have a long payment history. They are issued by governments that may have previously defaulted on the loans being restructured by the Brady Bonds, so they are subject to the risk of default by the issuer. They may be fully or partially collateralized or uncollateralized and issued in various currencies.

Dividends and Distributions to Shareholders — The International Equity, Emerging Markets Equity and International Fixed Income Funds will distribute substantially all of their net investment income and all net realized capital gains, if any, at least annually. The Emerging Markets Debt Fund will distribute substantially all of its net investment income, if any, at least quarterly and all net realized gains, if any, at least annually. All dividends and distributions are recorded on ex-dividend date.

Investments in Real Estate Investment Trusts (“REITs”) — Dividend income is recorded based on the income included in distributions received from the REIT investments using published REIT reclassifications including management estimates when actual amounts are not available. Distributions received in excess of this estimated amount are recorded as a reduction of the cost of investments or reclassified to capital gains. The actual amounts of income, return of capital, and capital gains are only determined by each REIT after its fiscal year-end, and may differ from the estimated amounts.

Participation Notes (P-Notes) — To the extent consistent with its investment objective and strategies, a Fund may acquire P-Notes issued by participating banks or broker-dealers. P-Notes are participation interest notes that are designed to offer a return linked to a particular underlying equity, debt, currency or market. The P-Notes in which the Fund may invest will typically have a maturity of one year. When purchasing a P-Note, the posting of margin is not required because the full cost of the P-Note (plus commission) is paid at the time of purchase. When the P-Note matures, the issuer will pay to, or receive from, the purchaser the difference between the minimal value of the underlying instrument at the time of purchase and that instrument’s value at maturity. Investments in P-Notes involve the same risks associated with a direct investment in the underlying foreign companies of foreign securities markets that they seek to replicate. In addition, there can be no assurance that the trading price of P-Notes will equal the underlying value of the foreign companies or foreign securities markets that they seek to replicate. The holder of a participation note that is linked to a particular underlying security is entitled to receive any dividends paid in connection with an underlying security

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NOTES TO FINANCIAL STATEMENTS (Continued)

March 31, 2022 (Unaudited)

or instrument. However, the holder of a participation note does not receive voting rights as it would if it directly owned the underlying security or instrument. P-Notes are generally traded over-the-counter. P-Notes constitute general unsecured contractual obligations of the banks or broker-dealers that issue them and the counterparty. There is also counterparty risk associated with these investments because the Fund is relying on the creditworthiness of such counterparty and has no rights under a participation note against the issuer of the underlying security.

3. CREDIT DERIVATIVES

A Fund may use credit default swaps to reduce risk where a Fund has exposure to the issuer, or to take an active long or short position with respect to the likelihood of an event of default. The reference obligation of the swap can be a single issuer, a “basket” of issuers, or an index. The underlying referenced assets are corporate debt, sovereign debt and asset backed securities.

The buyer of a credit default swap is generally obligated to pay the seller a periodic stream of payments over the term of the contract in return for a contingent payment upon the occurrence of a credit event with respect to an underlying reference obligation. Generally, a credit event for corporate or sovereign reference obligations means bankruptcy, failure to pay, obligation acceleration, repudiation/moratorium or restructuring. For credit default swaps on asset-backed securities, a credit event may be triggered by events such as failure to pay principal, maturity extension, rating downgrade or write-down.

If a Fund is a seller of protection, and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund will generally either (i) pay to the buyer an amount equal to the notional amount of the swap and take delivery of the referenced obligation, other deliverable obligations, or underlying securities comprising a referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising a referenced index.

If a Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. Recovery values are calculated by market makers considering either industry standard recovery rates or entity specific factors and considerations until a credit event occurs. If a credit event has occurred, the recovery value is determined by a facilitated auction whereby a minimum number of allowable broker bids, together with a specified valuation method, are used to calculate the settlement value.

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SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

4. DERIVATIVE CONTRACTS

The following tables include only Funds that had exposure to more than one type of risk on derivatives held throughout the six months. For Funds that held derivatives throughout the six months with only one type of risk exposure, additional information can be found on the Schedules of Investments and the Statements of Operations. The fair value of derivative instruments as of period end was as follows ($ Thousand):

	Asset Derivatives				Liability Derivatives
	Six Months ended March 31, 2022				Six Months ended March 31, 2022
	Statements of Assets and Liabilities Location	Fair Value			Statements of Assets and Liabilities Location	Fair Value
International Fixed Income Fund
Interest rate contracts	Net Assets — Unrealized appreciation on swaps contracts	$	180	†	Net Assets — Unrealized depreciation on swaps contracts	$	416	†
	Unrealized appreciation on swaps contracts		135	†	Unrealized depreciation on swaps contracts		—	†
	Net Assets — Unrealized appreciation on futures contracts		1,516	*	Net Assets — Unrealized depreciation on futures contracts		1,360	*
Foreign exchange contracts	Unrealized gain on forward foreign currency contracts		10,835		Unrealized loss on forward foreign currency contracts		7,075
Total derivatives not accounted for as hedging instruments		$	12,666			$	8,851

	Asset Derivatives				Liability Derivatives
	Six Months ended March 31, 2022				Six Months ended March 31, 2022
	Statements of Assets and Liabilities Location	Fair Value			Statements of Assets and Liabilities Location	Fair Value
Emerging Markets Debt Fund
Interest rate contracts	Net Assets — Unrealized appreciation on swaps contracts	$	1,831	†	Net Assets — Unrealized depreciation on swaps contracts	$	6,432	†
	Unrealized appreciation on swaps contracts		845	†	Unrealized depreciation on swaps contracts		947	†
	Net Assets — Unrealized appreciation on futures contracts		1,516	*	Net Assets — Unrealized depreciation on futures contracts		509	*
Credit contracts	Net Assets — Unrealized appreciation on swaps contracts		—	†	Net Assets — Unrealized depreciation on swaps contracts		75	†
Foreign exchange contracts	Unrealized gain on forward foreign currency contracts		11,117		Unrealized loss on forward foreign currency contracts		8,608
Total derivatives not accounted for as hedging instruments		$	15,309			$	16,571

* Includes cumulative appreciation/depreciation of futures contracts as reported in the Schedules of Investments. Only current day’s variation margin is reported within the Statements of Assets & Liabilities.

^† Includes cumulative appreciation/depreciation of swap contracts as reported in the Schedules of Investments. Market Value is reported within the Statements of Assets & Liabilities for OTC swap contracts that have paid premiums. For centrally cleared swap contracts current days variation margin is reported within the Statements of Assets & Liabilities.

The effect of derivative instruments on the Statements of Operations for the six months ended March 31, 2022.

Amount of realized gain or (loss) on derivatives recognized in income ($ Thousands):

Derivatives Not Accounted for as Hedging Instruments	Futures		Forward Currency Contracts		Swaps		Total
International Fixed Income Fund
Interest rate contracts	$	1,604	$	—	$	43	$	1,647
Foreign exchange contracts		2,445		15,644		—		18,089
Total	$	4,049	$	15,644	$	43	$	19,736

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

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NOTES TO FINANCIAL STATEMENTS (Continued)

March 31, 2022 (Unaudited)

Derivatives Not Accounted for as Hedging Instruments	Futures			Forward Currency Contracts			Swaps			Total
Emerging Markets Debt Fund
Interest rate contracts	$	(1,037	)	$	—		$	(5,348	)	$	(6,385	)
Foreign exchange contracts		—			(7,068	)		—			(7,068	)
Credit Contracts		—			—			51			51
Total	$	(1,037	)	$	(7,068	)	$	(5,297	)	$	(13,402	)

Change in unrealized appreciation or (depreciation) on derivatives recognized in income ($ Thousands):

Derivatives Not Accounted for as Hedging Instruments	Futures			Forward Currency Contracts			Swaps			Total
International Fixed Income Fund
Interest rate contracts	$	(601	)	$	—		$	(72	)	$	(673	)
Foreign exchange contracts		—			(3,002	)		—			(3,002	)
Credit Contracts		—			—			1			1
Total	$	(601	)	$	(3,002	)	$	(71	)	$	(3,674	)

Derivatives Not Accounted for as Hedging Instruments	Futures		Forward Currency Contracts		Swaps			Total
Emerging Markets Debt Fund
Interest rate contracts	$	938	$	—	$	(2,074	)	$	(1,136	)
Foreign exchange contracts		—		4,738		—			4,738
Credit Contracts		—		—		(75	)		(75	)
Total	$	938	$	4,738	$	(2,149	)	$	3,527

A Fund is subject to various netting arrangements with select counterparties (“Master Agreements”). Master Agreements govern the terms of certain transactions, and reduce the counterparty risk associated with relevant transactions by specifying credit protection mechanisms and providing standardization that improves legal certainty. Since different types of transactions have different mechanics and are sometimes traded out of different legal entities of a particular counterparty organization, each type of transaction may be covered by a different Master Agreement, resulting in the need for multiple agreements with a single counterparty. As the Master Agreements are specific to unique operations of different asset types, they allow a Fund to close out and net its total exposure to a specific counterparty entity in the event of a default with respect to all the transactions governed under a single agreement with a specific counterparty entity.

Master Agreements can also help limit counterparty risk by specifying collateral posting arrangements at pre-arranged exposure levels. Under the Master Agreements,

collateral is routinely transferred if the total net exposure to certain transactions (net of existing collateral already in place) governed under the relevant Master Agreement with a counterparty in a given account exceeds a specified threshold, which typically ranges from zero to $250,000 depending on the counterparty and the type of Master Agreement. United States Treasury Securities and U.S. dollar cash are generally the preferred forms of collateral. Securities and cash pledged as collateral are reflected as assets in the Statements of Assets and Liabilities as either a component of investments at value (securities) or deposits due from counterparties (cash). Cash collateral received is not typically held in a segregated account and as such is reflected as a liability in the Statement of Assets and Liabilities as deposits due to counterparties. The market value of any securities received as collateral is not reflected as a component of net asset value. A Fund’s overall exposure to counterparty risk can change substantially within a short period, as it is affected by each transaction subject to the relevant Master Agreement.

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SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

Customer Account Agreements and related addendums govern exchange traded derivatives transactions such as futures, options on futures, and centrally cleared swaps. Exchange traded derivative transactions require posting of initial margin as determined by each relevant clearing agency which is segregated at a broker account registered with the Commodities Futures Trading Commission (CFTC),

or the applicable regulator. In the US, counterparty risk is significantly reduced as creditors of the futures broker do not have claim to Fund assets in the segregated account. Additionally, portability of exposure in the event of default further reduces risk to the Funds. Variation margin, or changes in market value, are exchanged daily, but may not be netted between futures and cleared OTC derivatives.

The following is a summary of the market value and variation margin of exchange-traded or centrally cleared financial derivative instruments of the Funds as of March 31, 2022 ($ Thousands):

	Financial Derivatives Assets						Financial Derivatives Liabilities
	Variation Margin Asset						Variation Margin Liability
Fund	Futures		Swap Agreements		Total		Futures		Swap Agreements		Total
International Equity Fund	$	1	$	—	$	1	$	799	$	—	$	799
Emerging Markets Equity Fund		—		—		—		648		—		648
International Fixed Income Fund		565		10		575		360		11		371
Emerging Markets Debt Fund		113		170		283		398		121		519

Cash pledged as collateral for exchange-traded and centrally cleared derivative instruments as of March 31, 2022 amounted to $8,039 ($ Thousands) for the International Equity Fund. Cash pledged as collateral for exchange-traded and centrally cleared derivative instruments as of March 31, 2022 amounted to $2,834 ($ Thousands) for the Emerging Markets Equity Fund. Cash pledged as collateral for exchange-traded and centrally cleared derivative instruments as of March 31, 2022 amounted to $938 ($ Thousands) for the International Fixed Income Fund. Cash pledged as collateral for exchange-traded and centrally cleared derivative instruments as of March 31, 2022 amounted to $4,098 ($ Thousands) for the Emerging Markets Debt Fund.

International Swaps and Derivatives Association, Inc. Master Agreements and Credit Support Annexes (“ISDA Master

Agreements”) govern OTC financial derivative transactions entered into by a Fund and select counterparties. ISDA Master Agreements maintain provisions for general obligations, representations, agreements, collateral and events of default or termination. Events of termination include conditions that may entitle counterparties to elect to terminate early and cause settlement of all outstanding transactions under the applicable ISDA Master Agreement. Any election to terminate early could be material to the financial statements. In limited circumstances, the ISDA Master Agreement may contain additional provisions that add additional counterparty protection beyond coverage of existing daily exposure if the counterparty has a decline in credit quality below a predefined level. These amounts, if any, may be segregated with a third party custodian.

The following is a summary by derivative type of the market value of OTC financial derivative instruments and collateral (received)/pledged as of March 31, 2022 ($ Thousands):

	Financial Derivative Assets						Financial Derivative Liabilities
International Fixed Income Fund	Forward Foreign Currency Contracts		Swap Agreements		Total Over the Counter		Forward Foreign Currency Contracts		Swap Agreements		Total Over the Counter		Net Market Value of OTC Derivatives			Collateral (Received)/ Pledged*		Net Exposures^
Bank of America	$	98	$	—	$	98	$	61	$	—	$	61	$	37		$	—	$	37
Barclays PLC		96		—		96		367		—		367		(271	)		—		(271	)
BNP Paribas		4,931		—		4,931		1,696		—		1,696		3,235			—		3,235
Brown Brothers Harriman		53		—		53		59		—		59		(6	)		—		(6	)
CIBC		2		—		2		216		—		216		(214	)		—		(214	)
Citigroup		624		—		624		754		—		754		(130	)		—		(130	)
Commonwealth Bank Of Australia		7		—		7		—		—		—		7			—		7
Credit Suisse First Boston		4		—		4		12		—		12		(8	)		—		(8	)
Deutsche Bank		—		135		135		—		—		—		135			—		135
Goldman Sachs		85		—		85		163		—		163		(78	)		—		(78	)
HSBC		82		—		82		381		—		381		(299	)		—		(299	)
JPMorgan Chase Bank		1,853		—		1,853		1,596		—		1,596		257			—		257

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

83

NOTES TO FINANCIAL STATEMENTS (Continued)

March 31, 2022 (Unaudited)

	Financial Derivative Assets						Financial Derivative Liabilities
International Fixed Income Fund	Forward Foreign Currency Contracts		Swap Agreements		Total Over the Counter		Forward Foreign Currency Contracts		Swap Agreements		Total Over the Counter		Net Market Value of OTC Derivatives			Collateral (Received)/ Pledged*		Net Exposures^
Merrill Lynch	$	—	$	—	$	—	$	2	$	—	$	2	$	(2	)	$	—	$	(2	)
Montgomery/Bank of America		651		—		651		—		—		—		651			—		651
Morgan Stanley		349		—		349		614		—		614		(265	)		—		(265	)
RBC		—		—		—		2		—		2		(2	)		—		(2	)
Standard Chartered		51		—		51		63		—		63		(12	)		—		(12	)
State Street		43		—		43		22		—		22		21			—		21
TD Securities		515		—		515		119		—		119		396			—		396
UBS		1,391		—		1,391		948		—		948		443			—		443
Total Over the Counter	$	10,835	$	135	$	10,970	$	7,075	$	—	$	7,075

	Financial Derivative Assets						Financial Derivative Liabilities
Emerging Markets Debt Fund	Forward Foreign Currency Contracts		Swap Agreements		Total Over the Counter		Forward Foreign Currency Contracts		Swap Agreements		Total Over the Counter		Net Market Value of OTC Derivatives			Collateral (Received)/ Pledged*		Net Exposures^
Barclays PLC	$	297	$	—	$	297	$	99	$	—	$	99	$	198		$	—	$	198
BNP Paribas		4		—		4		3		—		3		1			—		1
Citibank		—		5		5		—		—		—		5			—		5
Citigroup		2,100		—		2,100		1,214		—		1,214		886			—		886
Deutsche Bank		—		—		—		9		—		9		(9	)		—		(9	)
Goldman Sachs		2,767		714		3,481		1,586		785		2,371		1,110			—		1,110
JPMorgan Chase Bank		4,520		126		4,646		5,307		162		5,469		(823	)		—		(823	)
Merrill Lynch		774		—		774		192		—		192		582			—		582
Morgan Stanley		130		—		130		49		—		49		81			—		81
Standard Bank		431		—		431		47		—		47		384			—		384
Standard Chartered		66		—		66		50		—		50		16			—		16
State Street		28		—		28		52		—		52		(24	)		—		(24	)
Total Over the Counter	$	11,117	$	845	$	11,962	$	8,608	$	947	$	9,555

^ Net Exposures represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from OTC financial derivative instruments can only be netted across transactions governed under the same master agreement with the same legal entity.

* Excess collateral pledged is not shown for financial reporting purposes.

No securities have been pledged or have been received as collateral for OTC financial derivative instruments as governed by ISDA Master Agreements as of March 31, 2022.

The following table discloses the volume of the Funds’ futures contracts, forward foreign currency contracts and swap activity during the six months ended March 31, 2022 ($ Thousands):

	International Equity Fund		Emerging Markets Equity Fund		International Fixed Income Fund		Emerging Markets Debt Fund
Futures Contracts:
Equity Contracts
Average Notional Balance Long	$	94,031	$	45,061	$	–	$	–
Ending Notional Balance Long		93,187		42,150		–		–
Interest Contracts
Average Notional Balance Long		–		–		71,646		56,323
Average Notional Balance Short		–		–		97,949		39,175
Ending Notional Balance Long		–		–		77,348		46,894
Ending Notional Balance Short		–		–		86,850		30,421
Currency Contracts
Average Notional Balance Short		–		–		33,666		–
Ending Notional Balance Short		–		–		33,369		–

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SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

	International Equity Fund		Emerging Markets Equity Fund		International Fixed Income Fund		Emerging Markets Debt Fund
Forward Foreign Currency Contracts:
Average Notional Balance Long	$	–	$	–	$	862,716	$	692,928
Average Notional Balance Short		–		–		860,509		689,956
Ending Notional Balance Long		–		–		1,157,931		750,495
Ending Notional Balance Short		–		–		1,154,135		748,008
Swaps:
Credit Contracts
Average Notional Balance Long		–		–		–		6,960
Ending Notional Balance Long		–		–		–		13,921
Interest Contracts
Average Notional Balance		–		–		22,227		235,267
Ending Notional Balance		–		–		25,288		248,186

5. INVESTMENT ADVISORY, ADMINISTRATION AND DISTRIBUTION AGREEMENTS, INVESTMENT SUB-ADVISORY AGREEMENTS AND OTHER TRANSACTIONS WITH AFFILIATES

Investment Advisory, Administration and Distribution Agreements — SIMC serves as investment adviser (the “Adviser”) to each Fund. In connection with serving as Adviser, SIMC is entitled to a fee, which is calculated daily and paid monthly, based on the average daily net assets of each fund.

SEI Investments Global Funds Services (the “Administrator”) provides administrative and transfer agency services to the Funds for annual fees, based on the average daily net assets of each fund.

SEI Investments Distribution Co. (the “Distributor”) is the distributor of the shares of the Funds. The Funds have adopted a shareholder services plan and agreement (the Service Plan) with respect to Class F (formerly Class A) and Class I Shares that allows such shares to pay service providers a fee, based on average daily net assets of each respective Class of Shares, in connection with the ongoing servicing of shareholder accounts owning such shares. The International Equity Fund has also adopted an administrative services plan and agreement (the Administrative Service Plan) with respect to Class I Shares that allows such Shares to pay service providers a fee, based on average daily net assets of the Class I Shares, in connection with ongoing administrative services for shareholder accounts owning such Shares.

The Service Plan and Administrative Service Plan provide that shareholder service fees and administrative service fees, respectively, on Class F (formerly Class A) and Class I Shares will be paid to the Distributor, which may then be used by the Distributor to compensate financial intermediaries for providing shareholder services and administrative services, as applicable, with respect to the Shares.

The Adviser, Administrator and/or Distributor have voluntarily agreed to waive a portion of their fees in

order to keep total direct operating expenses (exclusive of interest from borrowings, brokerage commissions, taxes, Trustees fees and extraordinary expenses not incurred in the ordinary course of the Funds’ business) at a specified level. The voluntary waivers by the Funds’ Adviser, Administrator and/or Distributor are limited to the Funds’ direct operating expenses and, therefore, do not apply to indirect expenses incurred by the Funds, such as acquired fund fees and expenses (AFFE). The waivers are voluntary and the Funds’ Adviser, Administrator and/or Distributor may discontinue all or part of any of these waivers at any time.

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85

NOTES TO FINANCIAL STATEMENTS (Continued)

March 31, 2022 (Unaudited)

The following is a summary of annual fees payable to the Adviser and Distributor and the contractual and voluntary expense limitations for each Fund:

	Advisory Fee			Shareholder Servicing Fee			Administrative Servicing Fee			Voluntary Expense Limitation
International Equity Fund
Class F		0.51	%		0.25	%		—			1.15	%
Class I		0.51	%		0.25	%		0.25	%		1.40	%
Class Y		0.51	%		—			—			0.90	%
Emerging Markets Equity Fund*
Class F		1.05	%		0.25	%		—			N/A
Class Y		1.05	%		—			—			N/A
International Fixed Income Fund
Class F		0.30	%		0.25	%		—			1.02	%
Class Y		0.30	%		—			—			0.77	%
Emerging Markets Debt Fund
Class F		0.85	%		0.25	%		—			1.36	%
Class Y		0.85	%		—			—			1.11	%

* SIMC has contractually agreed to waive its advisory fee as necessary to keep the advisory fee paid by the Fund during its fiscal year from exceeding 0.95%. This fee waiver agreement shall remain in effect until January 31, 2023 and, unless earlier terminated, shall be automatically renewed for successive one-year periods thereafter. The agreement may be amended or terminated only with the consent of the Board of Trustees.

N/A — Not applicable.

The following is a summary of annual fees payable to the Administrator:

	First $1.5 Billion of Assets			Next $500 Million of Assets			Next $500 Million of Assets			Next $500 Million of Assets			Over $3 Billion of Assets
International Equity Fund		0.450	%		0.370	%		0.2900	%		0.210	%		0.130	%
Emerging Markets Equity Fund		0.450	%		0.370	%		0.2900	%		0.210	%		0.130	%
International Fixed Income Fund		0.450	%		0.370	%		0.2900	%		0.210	%		0.130	%
Emerging Markets Debt Fund		0.450	%		0.370	%		0.2900	%		0.210	%		0.130	%

Investment Sub-Advisory Agreements — As of March 31, 2022, SIMC has entered into Investment Sub-Advisory Agreements with the following parties:

Investment Sub-Adviser

International Equity Fund

Acadian Asset Management LLC

Causeway Capital Management LLC

INTECH Investment Management LLC

JOHCM (USA) Inc.

Lazard Asset Management LLC

Delaware Investments Fund Advisers, a series of Macquarie Investment Management Business Trust

WCM Investment Management LLC

Emerging Markets Equity Fund

JOHCM (USA) Inc.

KBI Global Investors (North America) Ltd.

Neuberger Berman Investment Advisers LLC

Qtron Investments LLC

Robeco Institutional Asset Management US Inc.

RWC Asset Advisors (US) LLC

International Fixed Income Fund

AllianceBernstein L.P.

Colchester Global Investors Ltd.

Wellington Management Company, LLP

Emerging Markets Debt Fund

Colchester Global Investors Ltd.

Marathon Asset Management, L.P.

Neuberger Berman Investment Advisers LLC

Ninety One UK Ltd.

Stone Harbor Investment Partners LP

Under the investment sub-advisory agreements, each sub-adviser receives a fee, paid by SIMC.

Brokerage Commissions Paid to Affiliates — The Distributor may receive compensation on fund transactions effected for the Trust in accordance with the rules of the Securities and Exchange Commission (“SEC”). Accordingly, it is expected that fund transactions may result in brokerage commissions being paid to the Distributor. The SEC rules

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SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

require that such commissions not exceed usual and customary commissions.

There were no such commissions for the six months ended March 31, 2022.

Fees Paid Indirectly — The Funds may direct certain fund trades to the Distributor who pays a portion of the Fund’s expenses. Accordingly, the expenses reduced, which were used to pay third party expenses, and the effect on the Fund’s expense ratio, as a percentage of the Fund’s average daily net assets for the six months ended March 31, 2022 can be found on the Statement of Operations and Financial Highlights, if applicable.

Investment in Affiliated Securities — The Funds may invest in the SEI Daily Income Trust Government Fund, an affiliated money market fund to manage excess cash or to serve as margin or collateral for derivative positions. Additionally, the Funds may invest cash collateral from the securities lending program in the SEI Liquidity Fund, L.P., also an affiliated fund.

Payment to Affiliates — Certain Officers and Trustees of the Trust are also Officers and/or Directors of the Administrator, Adviser and/or the Distributor.

The Trust pays each unaffiliated Trustee an annual fee for attendance at quarterly, interim, and committee meetings. The Administrator or the Distributor pays compensation of Officers and affiliated Trustees.

A portion of the services provided by the Chief Compliance Officer (“CCO”) and his staff, whom are employees of the Administrator, are paid for by the Trust as incurred. The services include regulatory oversight of the Trust’s Adviser, sub-advisers and service providers.

Interfund Lending — The SEC has granted an exemption that permits the Trust to participate in an interfund lending program (“The Program”) with existing or future investment companies registered under the 1940 Act that are advised by SIMC (the “SEI Funds”). The Program allows the SEI Funds to lend money to and borrow money from each other for temporary or emergency purposes. Participation in The Program is voluntary for both borrowing and lending funds. Interfund loans may be made only when the rate of interest to be charged is more favorable to the lending fund than an investment in overnight repurchase agreements (“Repo Rate”), and more favorable to the borrowing fund than the rate of interest that would be charged by a bank for short-term borrowings (“Bank Loan Rate”). The Bank Loan Rate will be determined using a formula reviewed annually by the SEI Funds’ Board of Trustees. The interest rate imposed on interfund loans is the average of the Repo Rate and the Bank Loan Rate. As of and during the six months ended March 31, 2022, the Trust has not participated in the Program.

6. INVESTMENT TRANSACTIONS

The cost of security purchases and the proceeds from the sale of securities, other than temporary cash investments, during the six months ended March 31, 2022, were as follows:

	International Equity Fund ($ Thousands)		Emerging Markets Equity Fund ($ Thousands)		International Fixed Income Fund ($ Thousands)		Emerging Markets Debt Fund ($ Thousands)
Purchases
U.S. Government	$	—	$	—	$	1,596	$	—
Other		2,052,148		806,989		162,654		734,078
Sales
U.S. Government		—		—		9,920		—
Other		2,050,651		752,229		112,254		577,126

7. FEDERAL TAX INFORMATION:

It is each Fund’s intention to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code and distribute all of its taxable income (including net capital gains). Accordingly, no provision for Federal income taxes is required.

The Funds may be subject to taxes imposed by countries in which they invest with respect to their investments in issuers existing or operating in such countries. Such taxes are generally based on income earned. The Funds accrue such taxes when the related income is earned.

Dividends from net investment income and distributions from net realized capital gains are determined in accordance with U.S. Federal income tax regulations, which may differ from those amounts determined under U.S. GAAP. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to paid-in capital and distributable earnings, as appropriate, in the period that the differences arise.

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

87

NOTES TO FINANCIAL STATEMENTS (Continued)

March 31, 2022 (Unaudited)

The tax character of dividends and distributions declared during the last two years were as follows:

			Ordinary Income ($ Thousands)		Long-term Capital Gain ($ Thousands)		Total ($ Thousands)
International Equity Fund	2021		$	43,996	$	—	$	43,996
	2020			75,520		—		75,520
Emerging Markets Equity Fund	2021			10,653		—		10,653
		2020		20,681		—		20,681
International Fixed Income Fund		2021		—		149		149
		2020		16,125		746		16,871
Emerging Markets Debt Fund		2021		30,547		—		30,547
		2020		12,511		—		12,511

As of September 30, 2021, the components of Distributable Earnings (Accumulated Losses) were as follows:

	Undistributed Ordinary Income ($ Thousands)		Undistributed Long-Term Capital Gain ($ Thousands)		Capital Loss Carryforwards ($ Thousands)			Post October Losses ($ Thousands)		Late Year Ordinary Losses ($ Thousands)		Unrealized Appreciation (Depreciation) ($ Thousands)			Other Temporary Differences ($ Thousands)			Total Distributable Earnings (Accumulated Losses) ($ Thousands)
International Equity Fund	$	258,794	$	315,458	$	—		$	—	$	—	$	600,485		$	2		$	1,174,739
Emerging Markets Equity Fund		15,702		144,053		—			—		—		336,556			(2	)		496,309
International Fixed Income Fund		469		4,994		—			—		—		3,712			(9,097	)		78
Emerging Markets Debt Fund		3,052		—		(9,725	)		—		—		(65,043	)		(14,253	)		(85,969	)

Post-October losses represent losses realized on investment transactions from November 1, 2020 through September 30, 2021 that, in accordance with Federal income tax regulations, the Funds may elect to defer and treat as having arisen in the following fiscal year.

For Federal income tax purposes, capital loss carryforwards may be carried forward and applied against future capital gains.

The Funds have capital losses carried forward as follows:

	Short-Term ($ Thousands)		Long-Term ($ Thousands)		Total Capital Loss Carryforwards ($ Thousands)
Emerging Markets Debt Fund	$	—	$	9,725	$	9,725

For fiscal year ended September 30, 2021, the following Funds utilized capital loss carryforward from prior year to offset current year realized gain:

	Amount Utilized ($ Thousands)
International Equity Fund	$	29,195
Emerging Markets Equity Fund		83,049
International Fixed Income Fund		419
Emerging Markets Debt Fund		13,287

For Federal income tax purposes, the cost of securities owned at September 30, 2021, and the net realized gains or losses on securities sold for the period were not materially different from amounts reported for financial

reporting purposes. These differences are primarily due to investments in derivatives, passive foreign investment companies and wash sales which cannot be used for Federal income tax purposes in the current year and have been deferred for use in future years. The aggregate gross unrealized appreciation and depreciation on total investments held by the Funds at March 31, 2022, was as follows:

	Federal Tax Cost ($ Thousands)		Appreciated Securities ($ Thousands)		Depreciated Securities ($ Thousands)			Net Unrealized Appreciation/ (Depreciation) ($ Thousands)
International Equity Fund	$	4,122,717	$	579,701	$	(223,675	)	$	356,026
Emerging Markets Equity Fund		1,546,701		369,743		(136,291	)		233,452
International Fixed Income Fund		570,363		4,532		(35,738	)		(31,206	)
Emerging Markets Debt Fund		1,665,067		25,759		(219,513	)		(193,754	)

Management has analyzed the Funds’ tax positions taken on federal income tax returns for all open tax years and has concluded that as of March 31, 2022, no provision for income tax would be required in the Funds’ financial statements. The Funds’ federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue.

8. CONCENTRATION/RISKS

In the normal course of business, the Trust enters into contracts that provide general indemnifications by the Trust

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SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

to the counterparty to the contract. The Trust’s maximum exposure under these arrangements is dependent on future claims that may be made against the Trust and, therefore, cannot be estimated; however, management believes that, based on experience, the risk of loss from such claims is considered remote.

To the extent consistent with its Investment Strategy, a Fund may have one of more of the following principal risks:

Asset-Backed Securities Risk — Payment of principal and interest on asset-backed securities is dependent largely on the cash flows generated by the assets backing the securities. Securitization trusts generally do not have any assets or sources of funds other than the receivables and related property they own, and asset-backed securities are generally not insured or guaranteed by the related sponsor or any other entity. Asset-backed securities may be more illiquid than more conventional types of fixed-income securities that the Funds acquire.

Credit Risk — The risk that the issuer of a security or the counterparty to a contract will default or otherwise become unable to honor a financial obligation.

Currency Risk — As a result of a Fund’s investments in active positions in currencies and securities or other investments denominated in, and/or receiving revenues in, foreign currencies and the Fund’s active management of its currency exposures, the Fund will be subject to currency risk. Currency risk is the risk that foreign currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency hedged. In either event, the dollar value of an investment in the Fund would be adversely affected. Due to the Fund’s active positions in currencies, it will be subject to the risk that currency exchange rates may fluctuate in response to, among other things, changes in interest rates, intervention (or failure to intervene) by U.S. or foreign governments, central banks or supranational entities, or by the imposition of currency controls or other political developments in the United States or abroad.

Economic Risks of Global Health Events — Global health events and pandemics, such as COVID-19, have the ability to affect—quickly, drastically and substantially the economies of many nations, states, individual companies and the markets in general and can cause disruptions that cannot necessarily be foreseen. The spread of COVID-19 around the world in 2020 resulted in a substantial number of nations implementing social distancing measures, quarantines, and the shutdown of non-essential businesses and governmental services. Further, it has caused significant volatility in U.S. and international markets. The

impact of the outbreak may be short term or may last for an extended period of time.

Foreign Investment/Emerging Markets Risk — The risk that non-U.S. securities may be subject to additional risks due to, among other things, political, social and economic developments abroad, currency movements and different legal, regulatory, tax, accounting and audit environments. These additional risks may be heightened with respect to emerging market countries because political turmoil and rapid changes in economic conditions are more likely to occur in these countries. Investments in emerging markets are subject to the added risk that information in emerging market investments may be unreliable or outdated due to differences in regulatory, accounting or auditing and financial record keeping standards, or because less information about emerging market investments is publicly available. In addition, the rights and remedies associated with emerging market investments may be different than investments in developed markets. A lack of reliable information, rights and remedies increase the risks of investing in emerging markets in comparison to more developed markets. In addition, periodic U.S. Government restrictions on investments in issuers from certain foreign countries may require the Fund to sell such investments at inopportune times, which could result in losses to the Fund.

Interest Rate Risk — The risk that a rise in interest rates will cause a fall in the value of fixed income securities, including U.S. Government securities, in which the Funds invest. A low interest rate environment may present greater interest rate risk, because there may be a greater likelihood of rates increasing and rates may increase more rapidly.

Market Risk — The risk that the market value of a security may move up and down, sometimes rapidly and unpredictably. Market risk may affect a single issuer, an industry, a sector or the equity or bond market as a whole. Equity markets may decline significantly in response to adverse issuer, political, regulatory, market, economic or other developments that may cause broad changes in market value, public perceptions concerning these developments, and adverse investor sentiment or publicity. Similarly, environmental and public health risks, such as natural disasters, epidemics, pandemics or widespread fear that such events may occur, may impact markets adversely and cause market volatility in both the short- and long-term. The prices of the Fund’s fixed income securities respond to economic developments, particularly interest rate changes, as well as to perceptions about the creditworthiness of individual issuers, including governments and their agencies. Generally, the Fund’s fixed income securities will decrease in value if interest rates rise and vice versa. In a low interest rate environment, risks associated with rising rates are heightened. Declines in dealer market-making capacity as a result of structural or regulatory changes could further decrease liquidity and/

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

89

NOTES TO FINANCIAL STATEMENTS (Concluded)

March 31, 2022 (Unaudited)

or increase volatility in the fixed income markets. Markets for fixed income securities may decline significantly in response to adverse issuer, political, regulatory, market, economic or other developments that may cause broad changes in market value, public perceptions concerning these developments, and adverse investor sentiment or publicity. Similarly, environmental and public health risks, such as natural disasters, epidemics, pandemics or widespread fear that such events may occur, may impact markets adversely and cause market volatility in both the short- and long-term. In response to these events, the Fund’s value may fluctuate and/or the Fund may experience increased redemptions from shareholders, which may impact the Fund’s liquidity or force the Fund to sell securities into a declining or illiquid market.

Mortgage-Backed Securities Risk — Mortgage-backed securities are affected significantly by the rate of prepayments and modifications of the mortgage loans backing those securities, as well as by other factors such as borrower defaults, delinquencies, realized or liquidation losses and other shortfalls. Mortgage-backed securities are particularly sensitive to prepayment risk, which is described below, given that the term to maturity for mortgage loans is generally substantially longer than the expected lives of those securities; however, the timing and amount of prepayments cannot be accurately predicted. The timing of changes in the rate of prepayments of the mortgage loans may significantly affect the Funds’ actual yield to maturity on any mortgage-backed securities, even if the average rate of principal payments is consistent with the Funds’ expectation. Along with prepayment risk, mortgage-backed securities are significantly affected by interest rate risk, which is described above. In a low interest rate environment, mortgage loan prepayments would generally be expected to increase due to factors such as refinancing and loan modifications at lower interest rates. In contrast, if prevailing interest rates rise, prepayments of mortgage loans would generally be expected to decline and therefore extend the weighted average lives of mortgage-backed securities held or acquired by the Funds.

Please refer to each Fund’s current prospectus for additional disclosure regarding the risks associated with investing in the Funds. The foregoing is not intended to be a complete discussion of the risks associated with the investment strategies of the Funds.

9. SECURITIES LENDING

A Fund may lend portfolio securities to brokers, dealers and other financial organizations that meet capital and other credit requirements or other criteria established by the Trust’s Board of Trustees. These loans may not exceed

33 1/3% of the total asset value of a Fund (including the loan collateral). No Fund will lend portfolio securities to its Adviser, sub-adviser or their affiliates unless it has applied for and received specific authority to do so from the SEC. Loans of portfolio securities will be fully collateralized by cash. Collateral will be maintained in an amount equal to at least 100% of the current market value of the loaned securities by marking to market daily, although the borrower will be required to deliver collateral between 102% and 105% of the market value of borrowed securities for domestic and foreign securities, respectively. However, due to market fluctuations during the day, the value of securities loaned on a particular day may, during the course of the day, exceed the value of collateral. On each business day, the amount of collateral is adjusted based on the prior day’s market fluctuations and the current day’s lending activity. Income from lending activity is determined by the amount of interest earned on collateral, less any amounts payable to the borrowers of the securities and the lending agent. Lending securities involves certain risks, including the risk that a Fund may be delayed or restricted from recovering the loaned securities or disposing of the collateral for the loan which could give rise to loss because of adverse market actions expenses and/or delays in connection with the disposition of the underlying securities.

Cash collateral received in connection with securities lending is invested in eligible securities by the lending agent. These investments may include the SEI Liquidity Fund, L.P. (“Liquidity Fund”) and the Fund bears its pro rata portion of the Liquidity Fund’s expenses and is subject to the risk of loss in the underlying investments of the Liquidity Fund and losses on such investment. There is no guarantee that these investments will not lose value.

The following is a summary of securities lending agreements held by certain Funds which would be subject to offset as of March 31, 2022 ($ Thousands):

	Securities Loaned at Value		Cash Collateral Received(1)		Net Amount
International Equity Fund	$	194,135	$	194,135	$	—
Emerging Markets Equity Fund		32,812		32,812		—
Emerging Markets Debt Fund		115,613		115,613		—

(1) Excess collateral received in connection with the above securities lending transactions is not shown for financial reporting purposes. See each Fund’s Schedule of Investments for the total collateral received.

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SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

10. CONCENTRATION OF SHAREHOLDERS

SEI Private Trust Company (“SPTC”) and SIMC are subsidiaries of SEI Investments Company. As of March 31, 2022, SPTC held of record the following:

Fund	Class F		Class I		Class Y
International Equity Fund	96.44	%	—	%	48.00	%
Emerging Markets Equity Fund	96.22	%	—	%	62.30	%
International Fixed Income Fund	97.61	%	—	%	98.90	%
Emerging Markets Debt Fund	98.35	%	—	%	55.76	%

SPTC is not a direct service provider to the SEI Funds. However, SPTC performs a role in the comprehensive investment solution that SEI provides to investors. SPTC holds shares in the Funds as custodian for shareholders that are clients of independent registered investment advisers, financial planners, bank trust departments and other financial advisers. SPTC maintains omnibus accounts at the Fund’s transfer agent.

11. REGULATORY MATTERS

On July 27, 2017, the U.K. Financial Conduct Authority announced that it intends to stop compelling or inducing banks to submit London Inter-Bank Offered Rate (LIBOR) rates after 2021. The publication of LIBOR on a representative basis ceased for the one-week and two-month U.S. dollar LIBOR settings immediately after December 31, 2021, and is expected to cease for the remaining U.S. dollar LIBOR settings immediately after June 30, 2023. The elimination of the LIBOR may adversely affect the interest rates on, and value of, certain Fund investments for which the value is tied to LIBOR. Such investments may include bank loans, derivatives, floating rate securities, and other assets or liabilities tied to LIBOR. Actions by regulators have resulted in the establishment of alternative reference rates to LIBOR in most major currencies. The U.S. Federal Reserve, based on the recommendations of the New York Federal Reserve’s Alternative Reference Rate Committee (comprised of major derivative market participants and their regulators), has begun publishing a Secured Overnight Financing Rate, which is intended to replace U.S. dollar LIBOR. Alternative reference rates for other currencies have also been announced or have already begun publication. Markets are slowly developing in response to these new rates. Questions around liquidity impacted by these rates, and how to appropriately adjust these rates at the time of transition, remain a concern for a Fund. The effect of any changes to, or discontinuation of, LIBOR on a Fund will vary depending on, among other things, (1) existing fallback or termination provisions in individual contracts and (2) whether, how, and when industry participants develop and adopt new reference rates and fallbacks for both legacy and new products and

instruments. Accordingly, it is difficult to predict the full impact of the transition away from LIBOR on a Fund until new reference rates and fallbacks for both legacy and new products, instruments and contracts are commercially accepted.

12. SUBSEQUENT EVENTS

Management has evaluated the need for disclosures and/or adjustments resulting from subsequent events through the date the financial statements were issued. Based on this evaluation, no disclosure and/or adjustments were required to the financial statements as of March 31, 2022.

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

91

DISCLOSURE OF FUND EXPENSES (Unaudited)

March 31, 2022

All mutual funds have operating expenses. As a shareholder of a fund, your investment is affected by these ongoing costs, which include (among others) costs for portfolio management, administrative services, and shareholder reports like this one. It is important for you to understand the impact of these costs on your investment returns.

Operating expenses such as these are deducted from the fund’s gross income and directly reduce your final investment return. These expenses are expressed as a percentage of the fund’s average net assets; this percentage is known as the fund’s expense ratio.

The following examples use the expense ratio and are intended to help you understand the ongoing costs (in dollars) of investing in your fund and to compare these costs with those of other mutual funds. The examples are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period October 1, 2021 to March 31, 2022.

The table on this page illustrates your fund’s costs in two ways:

●    Actual fund return. This section helps you to estimate the actual expenses after fee waivers that your Fund incurred over the period. The “Expenses Paid During Period” column shows the actual dollar expense cost incurred by a $1,000 investment in the Fund, and the “Ending Account Value” number is derived from deducting that expense cost from the Fund’s gross investment return.

You can use this information, together with the actual amount you invested in the Fund, to estimate the expenses you paid over that period. Simply divide your actual account value by $1,000 to arrive at a ratio (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply that ratio by the number shown for your Fund under “Expenses Paid During Period”.

●    Hypothetical 5% return. This section helps you compare your Fund’s costs with those of other mutual funds. It assumes that the fund had an annual 5% return before expenses during the year, but that the expense ratio (Column 3) for the period is unchanged. This example is useful in making comparisons because the Securities and Exchange Commission requires all mutual funds to make this 5% calculation. You can assess your Fund’s comparative cost by comparing the hypothetical result for your Fund in the “Expense Paid During Period” column with those that appear in the same charts in the shareholder reports for other funds.

NOTE: Because the return is set at 5% for comparison purposes — NOT your Fund’s actual return — the account values shown may not apply to your specific investment.

	Beginning Account Value 10/1/21		Ending Account Value 3/31/22		Annualized Expense Ratios			Expenses Paid During Period *
International Equity Fund
Actual Fund Return
Class F	$	1,000.00	$	946.40		1.08	%	$	5.24
Class I		1,000.00		944.90		1.33			6.45
Class Y		1,000.00		947.10		0.83			4.03
Hypothetical 5% Return
Class F	$	1,000.00	$	1,019.55		1.08	%	$	5.44
Class I		1,000.00		1,018.30		1.33			6.69
Class Y		1,000.00		1,020.79		0.83			4.18
Emerging Markets Equity Fund
Actual Fund Return
Class F	$	1,000.00	$	910.90		1.71	%	$	8.15
Class Y		1,000.00		911.90		1.46			6.96
Hypothetical 5% Return
Class F	$	1,000.00	$	1,016.41		1.71	%	$	8.60
Class Y		1,000.00		1,017.65		1.46			7.34

	Beginning Account Value 10/1/21		Ending Account Value 3/31/22		Annualized Expense Ratios			Expenses Paid During Period *
International Fixed Income Fund
Actual Fund Return
Class F	$	1,000.00	$	959.50		1.02	%	$	4.98
Class Y		1,000.00		961.00		0.77			3.76
Hypothetical 5% Return
Class F	$	1,000.00	$	1,019.85		1.02	%	$	5.14
Class Y		1,000.00		1,021.09		0.77			3.88
Emerging Markets Debt Fund
Actual Fund Return
Class F	$	1,000.00	$	895.00		1.36	%	$	6.43
Class Y		1,000.00		896.50		1.11			5.25
Hypothetical 5% Return
Class F	$	1,000.00	$	1,018.15		1.36	%	$	6.84
Class Y		1,000.00		1,019.40		1.11			5.59

*    Expenses are equal to the Fund’s annualized expense ratio multiplied by the average account value over the period, multiplied by 182/365 (to reflect the one-half year period shown).

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SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

LIQUIDITY RISK MANAGEMENT PROGRAM (Unaudited)

March 31, 2022

Pursuant to Rule 22e-4 under the 1940 Act, the Trust, on behalf of the Funds, has adopted a liquidity risk management program (the “Program”) to govern the Trust’s approach to managing liquidity risk. The Program is overseen by the SIMC Liquidity Risk Oversight Committee, and the Program’s principal objectives include assessing, managing and periodically reviewing each Fund’s liquidity risk, based on factors specific to the circumstances of the Fund.

At a meeting of the Board held on March 22, 2022, the Trustees received a report from the SIMC Liquidity Risk Oversight Committee addressing the operations of the Program and assessing its adequacy and effectiveness of implementation. The SIMC Liquidity Risk Oversight Committee determined, and reported to the Board, that the Program remains reasonably designed to assess and manage each Fund’s liquidity risk and that the Program adequately and effectively managed each Fund’s liquidity risk during the 2021 calendar year. The SIMC Liquidity Risk Oversight Committee reported one liquidity event that occurred in January 2022 in connection with an extended market closure due to a Chinese holiday, which caused the SIT Emerging Markets Equity Fund to exceed temporarily the 15% limit on illiquid securities. The SIT Emerging Markets Equity Fund was under the 15% limitation on the sixth day, and there was no impact on the Fund’s ability to timely meet redemptions. There were no other reportable liquidity events during the period. The SIMC Liquidity Risk Oversight Committee further noted that additional monitoring processes, including manual reviews of upcoming market closures, have been implemented.

There can be no assurance that the Program will achieve its objectives in the future. Please refer to the prospectus for more information regarding a Fund’s exposure to liquidity risk and other principal risks to which an investment in the Funds may be subject.

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

93

BOARD OF TRUSTEES’ CONSIDERATIONS IN APPROVING THE ADVISORY AND SUB-ADVISORY AGREEMENTS (Unaudited)

SEI Institutional International Trust (the “Trust”) and SEI Investments Management Corporation (“SIMC”) have entered into an investment advisory agreement (the “Advisory Agreement”), pursuant to which SIMC provides investment advisory services to the series of the Trust (the “Funds”). Pursuant to separate sub-advisory agreements with SIMC (the “Sub-Advisory Agreements” and, together with the Advisory Agreement, the “Investment Advisory Agreements”), and under the supervision of SIMC and the Trust’s Board of Trustees (each member, a “Trustee” and, collectively, the “Trustees” or the “Board”), the sub-advisers (each, a “Sub-Adviser” and collectively, the “Sub-Advisers”) provide security selection and certain other advisory services with respect to all or a discrete portion of the assets of the Funds. The Sub-Advisers are also responsible for managing their employees who provide services to the Funds. The Sub-Advisers are selected based primarily upon the research and recommendations of SIMC, which evaluates quantitatively and qualitatively the Sub-Advisers’ skills and investment results in managing assets for specific asset classes, investment styles and strategies.

The Investment Company Act of 1940, as amended (the “1940 Act”), requires that the initial approval of a Fund’s Investment Advisory Agreements be specifically approved by the vote of a majority of the outstanding shareholders of the Funds and the vote of a majority of the Trustees who are not parties to the Investment Advisory Agreements or “interested persons” of any party (the “Independent Trustees”) cast in person (or otherwise, as consistent with applicable laws, regulations and related guidance and relief) at a meeting called for such purpose. In addition, the 1940 Act requires that the continuation or renewal of any Investment Advisory Agreement be approved at least annually (after an initial period of up to two years), which also requires the vote of a majority of the Board, including a majority of the Independent Trustees. In the case of the initial approval of a Sub-Advisory Agreement, only the approval of a majority of the Board, including a majority of the Independent Trustees, is required, pursuant to an exemptive order that has been granted to the Trust by the Securities and Exchange Commission. In connection with their consideration of such initial approvals and renewals, the Funds’ Trustees must request and evaluate, and SIMC and the Sub-Advisers are required to furnish, such information as may be reasonably necessary to evaluate the terms of the Investment Advisory Agreements. In addition, the Securities and Exchange Commission takes the position that, as part of their fiduciary duties with respect to a mutual fund’s fees, mutual fund boards are required to evaluate the material factors applicable to a decision to approve an investment advisory agreement.

Consistent with these responsibilities, the Board calls and holds meetings each year to consider whether to approve new and/or renew existing Investment Advisory Agreements between the Trust and SIMC and SIMC and the Sub-Advisers with respect to the Funds of the Trust. In preparation for these meetings, the Board requests and reviews a wide variety of materials provided by SIMC and the Sub-Advisers, including information about SIMC’s and the Sub-Advisers’ affiliates, personnel and operations and the services provided pursuant to the Investment Advisory Agreements. The Board also receives data from third parties. This information is provided in addition to the detailed information about the Funds that the Board reviews during the course of each year, including information that relates to Fund operations and Fund performance. The Trustees also receive a memorandum from counsel regarding the responsibilities of Trustees in connection with their consideration of whether to approve the Trust’s Investment Advisory Agreements. Finally, the Independent Trustees receive advice from independent counsel to the Independent Trustees, meet in executive sessions outside the presence of Fund management and participate in question and answer sessions with representatives of SIMC and the Sub-Advisers.

Specifically, during the first half of the Trust’s fiscal year, the Board requested and received written materials from SIMC and certain Sub-Advisers regarding: (i) the quality of SIMC’s and the Sub-Advisers’ investment management and other services; (ii) SIMC’s and the Sub-Advisers’ investment management personnel; (iii) SIMC’s and the Sub-Advisers’ operations and financial condition; (iv) SIMC’s and the Sub-Advisers’ brokerage practices (including any soft dollar arrangements) and investment strategies; (v) the level of the advisory fees that SIMC charges the Funds and the level of the sub-advisory fees that SIMC pays the Sub-Advisers, compared with fees each charge to comparable accounts; (vi) the advisory fees charged by SIMC and the Funds’ overall fees and operating expenses compared with peer groups of mutual funds prepared by Broadridge, an independent provider of investment company data; (vii) the level of SIMC’s and the Sub-Advisers’ profitability from their Fund-related operations; (viii) SIMC’s and the Sub-Advisers’ compliance program, including a description of material compliance matters and material compliance violations; (ix) SIMC’s potential economies of scale; (x) SIMC’s and the Sub-Advisers’ policies on and compliance procedures for personal securities transactions; (xi) SIMC’s and the Sub-Advisers’ expertise and resources in domestic and/or international financial markets; and (xii) the Funds’ performance over various periods of time compared with peer groups of mutual funds prepared by Broadridge and the Funds’ benchmark indexes.

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SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

At the March 21-23, 2022 meeting of the Board, the Trustees, including a majority of the Independent Trustees, approved the renewal of the Advisory Agreement. Also, certain Sub-Advisory Agreements were either initially approved or, if the Sub-Advisory Agreement was already in effect (unless operating under an initial two-year term), renewed at meetings of the Board held during the first half of the Trust’s fiscal year on October 20, 2021, December 6-8, 2021, January 19, 2022 and March 21-23, 2022. In each case, the Board’s approval (or renewal) was based on its consideration and evaluation of the factors described above, as discussed at the meetings and at prior meetings. The following discusses some, but not all, of the factors that were considered by the Board in connection with its assessment of the Investment Advisory Agreements.

Nature, Extent and Quality of Services. The Board considered the nature, extent and quality of the services provided by SIMC and the Sub-Advisers to the Funds and the resources of SIMC and the Sub-Advisers and their affiliates dedicated to the Funds. In this regard, the Trustees evaluated, among other things, SIMC’s and each Sub-Adviser’s personnel, experience, track record and compliance program. Following evaluation, the Board concluded that, within the context of its full deliberations, the nature, extent and quality of services provided by SIMC and the Sub-Advisers to the Funds and the resources of SIMC and the Sub-Advisers and their affiliates dedicated to the Funds were sufficient to support the renewal of the Investment Advisory Agreements. In addition to advisory services, the Board considered the nature and quality of certain administrative, transfer agency and other non-investment advisory services provided to the Funds by SIMC and/or its affiliates.

Performance. In determining whether to renew SIMC’s Advisory Agreement, the Trustees considered the Funds’ performance relative to their peer groups and appropriate indexes/benchmarks. The Trustees reviewed performance information for each Fund, noting that they receive performance reports that permit them to monitor each Fund’s performance at board meetings throughout the year. As part of this review, the Trustees considered the composition of each peer group and selection criteria. In assessing Fund performance, the Trustees considered a report compiled by Broadridge, an independent third-party that was engaged to prepare an assessment of the Funds in connection with the renewal of the Advisory Agreement (the “Broadridge Report”). The Broadridge Report included metrics on risk analysis, volatility versus total return, net total return and performance consistency for the Funds and a universe of comparable funds. Based on the materials considered and discussed at the meetings, the Trustees found Fund performance satisfactory, or, where performance was materially below the benchmark and/or peer group, the Trustees were satisfied with the reasons provided to explain such performance. In connection with the approval or renewal of Sub-Advisory Agreements, the Board considered the performance of the Sub-Adviser relative to appropriate indexes/benchmarks. Following evaluation, the Board concluded that, within the context of its full deliberations, the performance of the Funds was sufficient to support renewal of SIMC’s Advisory Agreement, and the performance of each Sub-Adviser was sufficient to support approval or renewal of the Sub-Advisory Agreement.

Fees. With respect to the Funds’ expenses under the Investment Advisory Agreements, the Trustees considered the rate of compensation called for by the Investment Advisory Agreements and the Funds’ net operating expense ratios in comparison to those of the Funds’ respective peer groups. In assessing Fund expenses, the Trustees considered the information in the Broadridge Report, which included various metrics related to fund expenses, including, but not limited to, contractual management fees at various asset levels, actual management fees (including transfer agent expenses), and actual total expenses for the Funds and a universe of comparable funds. Based on the materials considered and discussion at the meetings, the Trustees further determined that fees were either shown to be below the peer average in the comparative fee analysis, or that there was a reasonable basis for the fee level. The Trustees also considered the effects of SIMC’s and its affiliates’ voluntary waivers of management and other fees to prevent total Fund operating expenses from exceeding any applicable cap, as well as SIMC’s contractual waiver of its management fee with respect to the Emerging Markets Equity Fund to prevent the management fee from exceeding a specified cap, and concluded that SIMC, through waivers, has maintained the Funds’ net operating expenses at competitive levels for its distribution channels. In determining the appropriateness of fees, the Board also took into consideration the impact of fees incurred indirectly by the Funds as a result of investments into underlying funds, including funds from which SIMC or its affiliates earn fees. The Board also took into consideration compensation earned from the Funds by SIMC or its affiliates for non-advisory services, such as administration, transfer agency, shareholder services or brokerage, and considered whether SIMC and its affiliates may have realized other benefits from their relationship with the Funds, such as any research and brokerage services received under soft dollar arrangements. When considering fees paid to Sub-Advisers, the Board took into account the fact that the Sub-Advisers are compensated by SIMC and not by the Funds directly, and that such compensation with respect to any unaffiliated Sub-Adviser reflects an arms-length negotiation between the Sub-Adviser and SIMC. Following

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

95

BOARD OF TRUSTEES’ CONSIDERATIONS IN APPROVING THE ADVISORY AND SUB-ADVISORY AGREEMENTS (Unaudited) (Concluded)

evaluation, the Board concluded that, within the context of its full deliberations, the expenses of the Funds are reasonable and supported renewal of the Investment Advisory Agreements. The Board also considered whether the Sub-Advisers and their affiliates may have realized other benefits from their relationship with the Funds, such as any research and brokerage services received under soft dollar arrangements.

Profitability. With regard to profitability, the Trustees considered compensation flowing to SIMC and the Sub-Advisers and their affiliates, directly or indirectly. The Trustees considered whether the levels of compensation and profitability were reasonable. As with the fee levels, when considering the profitability of the Sub-Advisers, the Board took into account the fact that compensation with respect to any unaffiliated Sub-Adviser reflects an arms-length negotiation between the Sub-Adviser and SIMC. In connection with the approval or renewal of each Sub-Advisory Agreement, the Board also took into consideration the impact that the fees paid to the Sub-Adviser have on SIMC’s advisory fee margin and profitability. Based on this evaluation, the Board concluded that, within the context of its full deliberations, the profitability of each of SIMC and the Sub-Advisers is reasonable and supported renewal of the Investment Advisory Agreements.

Economies of Scale. With respect to the Advisory Agreement, the Trustees considered whether any economies of scale were being realized by SIMC and its affiliates and, if so, whether the benefits of such economies of scale were passed along to the Funds’ shareholders through a graduated investment advisory fee schedule or other means, including any fee waivers by SIMC and its affiliates. The Trustees recognized that economies of scale are difficult to identify and quantify and are rarely identifiable on a fund-by-fund basis. Based on this evaluation, the Board determined that the fees were reasonable in light of the information that was provided by SIMC with respect to economies of scale.

Based on the Trustees’ deliberation and their evaluation of the information described above, the Board, including all of the Independent Trustees, with the assistance of Fund counsel and Independent Trustees’ counsel, unanimously approved the approval or renewal, as applicable, of the Investment Advisory Agreements and concluded that the compensation under the Investment Advisory Agreements is fair and reasonable in light of such services and expenses and such other matters as the Trustees considered to be relevant in the exercise of their reasonable judgment. In the course of its deliberations, the Board did not identify any particular factor (or conclusion with respect thereto) or single piece of information that was all-important, controlling or determinative of its decision, but considered all of the factors together, and each Trustee may have attributed different weights to the various factors (and conclusions with respect thereto) and information.

96

SEI Institutional International Trust / Semi-Annual Report / March 31, 2022

SEI INSTITUTIONAL INTERNATIONAL TRUST / SEMI-ANNUAL REPORT / MARCH 31, 2022

Robert A. Nesher, Chairman

Trustees

William M. Doran

Nina Lesavoy

James M. Williams

Mitchell A. Johnson

Hubert L. Harris, Jr.

Susan C. Cote

James B. Taylor

Christine Reynolds

Thomas Melendez

Officers

Robert A. Nesher

President and Chief Executive Officer

Ankit Puri

Controller and Chief Financial Officer

Glenn R. Kurdziel

Assistant Controller

Russell Emery

Chief Compliance Officer

Timothy D. Barto

Vice President and Secretary

David F. McCann

Vice President and Assistant Secretary

Stephen G. MacRae

Vice President

Bryant Smith

Anti-Money Laundering Compliance Officer

and Privacy Officer

Investment Adviser

SEI Investments Management Corporation

Administrator

SEI Investments Global Funds Services

Distributor

SEI Investments Distribution Co.

Legal Counsel

Morgan, Lewis & Bockius LLP

Independent Registered Public Accounting Firm

KPMG LLP

This report and the financial statements contained herein are submitted for the general information of the shareholders of the Trust and must be preceded or accompanied by a current prospectus. Shares of the Funds are not deposits or obligations of, or guaranteed or endorsed by, any bank. The shares are not federally insured by the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board, or any other government agency. Investment in the shares involves risk, including the possible loss of principal.

For more information call

1 800 DIAL SEI

(1 800 342 5734)

SEI-F-031 (3/22)

Item 2. Code of Ethics.

Not applicable for semi-annual report.

Item 3. Audit Committee Financial Expert.

Not applicable for semi-annual report.

Item 4. Principal Accountant Fees and Services.

Not applicable for semi-annual report.

Item 5. Audit Committee of Listed Registrants.

Not applicable.

Item 6. Schedule of Investments.

The Schedules of Investments in securities of unaffiliated issuers as of the close of the reporting period for the International Equity Fund, the Emerging Markets Equity Fund, the International Fixed Income Fund and the Emerging Markets Debt Fund are included as part of the report to shareholders filed under Item 1 of this form.

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. Purchases of Equity Securities by Closed-End Management Company and Affiliated Purchasers.

Not applicable.

Item 10. Submission of Matters to a Vote of Security Holders.

There have been no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s Board of Trustees (the “Board”). The Registrant has a standing Governance Committee (the “Committee”) currently consisting of the Independent Trustees. The Committee is responsible for evaluating and recommending nominees for election to the Board. Pursuant to the Committee’s Charter, adopted on June 18th 2004, as amended, the Committee will review all shareholder recommendations for nominations to fill vacancies on the Board if such recommendations are submitted in writing and addressed to the Committee at the Registrant’s office.

Item 11. Controls and Procedures. 

(a) The Registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “1940 Act”)) are effective, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 as of a date within 90 days of the filing date of this report.

(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant’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) Not applicable for semi-annual report.

(a)(2) A separate certification for the principal executive officer and the principal financial officer of the Registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 are filed herewith.

(b) Officer certifications as required by Rule 30a-2(b) under the Investment Company Act of 1940, as amended also accompany this filing as exhibits.

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.

	SEI Institutional International Trust
By	/s/ Robert A. Nesher
	Robert A. Nesher
	President & CEO
Date: June 8, 2022

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/ Robert A. Nesher
	Robert A. Nesher
	President & CEO
Date: June 8, 2022

By	/s/ Ankit Puri
	Ankit Puri
	Controller & CFO
Date: June 8, 2022