NPORT-EX 2 NPORT_340036361331761.htm HTML

Greater India Portfolio

September 30, 2020

PORTFOLIO OF INVESTMENTS (Unaudited)

Common Stocks — 98.6%

 

                                                 
Security    Shares      Value  

India — 98.6%

 

Airlines — 0.6%

 

InterGlobe Aviation, Ltd.(1)(2)

      69,143      $ 1,163,202  
     

 

 

  
   $ 1,163,202  
     

 

 

  

Auto Components — 0.8%

 

MRF, Ltd.

      1,871      $ 1,512,611  
     

 

 

  
   $ 1,512,611  
     

 

 

  

Automobiles — 5.8%

 

Hero MotoCorp, Ltd.

      61,816      $ 2,637,763  

Maruti Suzuki India, Ltd.

      93,513        8,559,631  
     

 

 

  
   $ 11,197,394  
     

 

 

  

Banks — 16.2%

 

Axis Bank, Ltd.(2)

      1,491,259      $ 8,614,213  

HDFC Bank, Ltd.(2)

      360,435        5,288,173  

ICICI Bank, Ltd.(2)

      2,774,975        13,370,407  

Kotak Mahindra Bank, Ltd.(2)

      218,246        3,763,759  
     

 

 

  
   $ 31,036,552  
     

 

 

  

Construction & Engineering — 1.7%

 

Voltas, Ltd.

      362,567      $ 3,353,457  
     

 

 

  
   $ 3,353,457  
     

 

 

  

Construction Materials — 2.9%

 

Dalmia Bharat, Ltd.

      127,807      $ 1,334,682  

UltraTech Cement, Ltd.

      78,030        4,275,116  
     

 

 

  
   $ 5,609,798  
     

 

 

  

Consumer Finance — 1.6%

 

Muthoot Finance, Ltd.

      105,884      $ 1,628,449  

SBI Cards & Payment Services, Ltd.

      122,770        1,414,404  
     

 

 

  
   $ 3,042,853  
     

 

 

  

Electrical Equipment — 0.1%

 

Graphite India, Ltd.

      83,106      $ 220,506  
     

 

 

  
   $ 220,506  
     

 

 

  

Food & Staples Retailing — 2.1%

 

Avenue Supermarts, Ltd.(1)(2)

      132,905      $ 3,944,203  
     

 

 

  
   $ 3,944,203  
     

 

 

  

Food Products — 1.6%

 

Tata Consumer Products, Ltd.

      467,358      $ 3,164,746  
     

 

 

  
   $ 3,164,746  
     

 

 

  

Health Care Providers & Services — 0.7%

 

Apollo Hospitals Enterprise, Ltd.

      48,038      $ 1,401,221  
     

 

 

  
   $ 1,401,221  
     

 

 

  

 

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Security    Shares      Value  

Hotels, Restaurants & Leisure — 1.4%

 

Jubilant FoodWorks, Ltd.

      84,027      $ 2,663,562  
     

 

 

  
   $ 2,663,562  
     

 

 

  

Household Durables — 3.0%

 

Crompton Greaves Consumer Electricals, Ltd.

      863,283      $ 3,420,647  

Whirlpool of India, Ltd.

      81,838        2,428,849  
     

 

 

  
   $ 5,849,496  
     

 

 

  

Household Products — 5.1%

 

Hindustan Unilever, Ltd.

      345,269      $ 9,687,741  
     

 

 

  
   $ 9,687,741  
     

 

 

  

Insurance — 3.2%

 

ICICI Lombard General Insurance Co., Ltd.(1)

      150,940      $ 2,638,815  

SBI Life Insurance Co., Ltd.(1)(2)

      314,097        3,442,237  
     

 

 

  
   $ 6,081,052  
     

 

 

  

Interactive Media & Services — 3.3%

 

Info Edge India, Ltd.

      129,113      $ 6,352,415  
     

 

 

  
   $ 6,352,415  
     

 

 

  

IT Services — 19.3%

 

HCL Technologies, Ltd.

      666,868      $ 7,337,791  

Infosys, Ltd.

      1,915,915        26,285,328  

Infosys, Ltd. ADR

      44,140        609,574  

Larsen & Toubro Infotech, Ltd.(1)

      78,423        2,713,273  
     

 

 

  
   $ 36,945,966  
     

 

 

  

Life Sciences Tools & Services — 3.2%

 

Divi’s Laboratories, Ltd.

      96,506      $ 4,000,720  

Syngene International, Ltd.(1)(2)

      275,765        2,074,585  
     

 

 

  
   $ 6,075,305  
     

 

 

  

Machinery — 0.8%

 

AIA Engineering, Ltd.

      64,413      $ 1,611,144  
     

 

 

  
   $ 1,611,144  
     

 

 

  

Multiline Retail — 0.5%

 

Trent, Ltd.

      113,576      $ 1,049,327  
     

 

 

  
   $ 1,049,327  
     

 

 

  

Oil, Gas & Consumable Fuels — 11.7%

 

Reliance Industries, Ltd.

      738,539      $ 22,364,750  
     

 

 

  
   $ 22,364,750  
     

 

 

  

Personal Products — 1.4%

 

Marico, Ltd.

      538,582      $ 2,634,973  
     

 

 

  
   $ 2,634,973  
     

 

 

  

Pharmaceuticals — 5.7%

 

Abbott India, Ltd.

      17,311      $ 3,879,898  

Ipca Laboratories, Ltd.

      73,861        2,181,821  

Lupin, Ltd.

      197,697        2,699,677  

Torrent Pharmaceuticals, Ltd.

      58,307        2,215,750  
     

 

 

  
   $ 10,977,146  
     

 

 

  

 

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Security    Shares      Value  

Real Estate Management & Development — 1.9%

 

Godrej Properties, Ltd.(2)

      117,693      $ 1,375,055  

Oberoi Realty, Ltd.(2)

      214,170        1,146,644  

Prestige Estates Projects, Ltd.

      325,464        1,121,733  
     

 

 

  
   $ 3,643,432  
     

 

 

  

Thrifts & Mortgage Finance — 1.5%

 

Housing Development Finance Corp., Ltd.

      118,625      $ 2,800,340  
     

 

 

  
   $ 2,800,340  
     

 

 

  

Wireless Telecommunication Services — 2.5%

 

Bharti Airtel, Ltd.

      839,978      $ 4,787,774  
     

 

 

  
   $ 4,787,774  
     

 

 

  

Total India
(identified cost $140,236,825)

 

    $ 189,170,966  
     

 

 

  

Total Common Stocks
(identified cost $140,236,825)

 

    $ 189,170,966  
     

 

 

  

Total Investments — 98.6%
(identified cost $140,236,825)

 

    $ 189,170,966  
     

 

 

  

Other Assets, Less Liabilities — 1.4%

 

    $ 2,629,627  
     

 

 

  

Net Assets — 100.0%

 

    $ 191,800,593  
     

 

 

  

The percentage shown for each investment category in the Portfolio of Investments is based on net assets.

 

(1)

Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities may be sold in certain transactions in reliance on an exemption from registration (normally to qualified institutional buyers). At September 30, 2020, the aggregate value of these securities is $15,976,315 or 8.3% of the Portfolio’s net assets.

 

(2)

Non-income producing security.

Futures Contracts

 

                                                                                                                            

Description

    Number of
Contracts		      Position      Expiration
Date		      Notional
Amount		      Value/
Unrealized
Appreciation
(Depreciation)		  

Equity Futures

               

SGX CNX Nifty Index

      67        Long        10/29/20      $ 1,508,036      $ 12,413  
              

 

 

  
               $ 12,413  
              

 

 

  

Abbreviations:

 

ADR

   -   American Depositary Receipt

At September 30, 2020, the Portfolio had sufficient cash and/or securities to cover commitments under open derivative contracts.

The Portfolio is subject to equity price risk in the normal course of pursuing its investment objective. During the fiscal year to date ended September 30, 2020, the Portfolio entered into equity index futures contracts to manage cash flows.

 

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Under generally accepted accounting principles for fair value measurements, a three-tier hierarchy to prioritize the assumptions, referred to as inputs, is used in valuation techniques to measure fair value. 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 risk, etc.)

 

•  

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

In cases where the inputs used to measure fair value fall in different levels of the fair value hierarchy, the level disclosed is determined based on the lowest level input that is significant to the fair value measurement in its entirety. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

At September 30, 2020, the hierarchy of inputs used in valuing the Portfolio’s investments and open derivative instruments, which are carried at value, were as follows:

 

Asset Description    Level 1      Level 2      Level 3      Total  
Common Stocks            

Communication Services

    $ —      $ 11,140,189      $ —      $ 11,140,189  

Consumer Discretionary

      —        22,272,390        —        22,272,390  

Consumer Staples

      —        19,431,663        —        19,431,663  

Energy

      —        22,364,750        —        22,364,750  

Financials

      —        42,960,797        —        42,960,797  

Health Care

      —        18,453,672        —        18,453,672  

Industrials

      —        6,348,309        —        6,348,309  

Information Technology

      609,574        36,336,392        —        36,945,966  

Materials

      —        5,609,798        —        5,609,798  

Real Estate

      —        3,643,432        —        3,643,432  

Total Common Stocks

    $ 609,574      $ 188,561,392 *     $ —      $ 189,170,966  

Total Investments

    $     609,574      $     188,561,392      $     —      $     189,170,966  

Futures Contracts

    $ —      $ 12,413      $ —      $ 12,413  

Total

    $ 609,574      $ 188,573,805      $ —      $ 189,183,379  

 

*

Includes foreign equity securities whose values were adjusted to reflect market trading of comparable securities or other correlated instruments that occurred after the close of trading in their applicable foreign markets.

For information on the Portfolio’s policy regarding the valuation of investments and other significant accounting policies, please refer to the Portfolio’s most recent financial statements included in its semiannual or annual report to shareholders.

 

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