Quarterly Holdings Report
for
Fidelity® Emerging Markets Index Fund
January 31, 2026
EMX-NPRT1-0426
1.929351.114
Common Stocks - 97.4%
 
 
Shares
Value ($)
 
AUSTRALIA - 0.4%
 
 
 
Materials - 0.4%
 
 
 
Metals & Mining - 0.4%
 
 
 
Anglogold Ashanti Plc (South Africa)
 
606,522
54,676,511
BRAZIL - 4.5%
 
 
 
Communication Services - 0.1%
 
 
 
Diversified Telecommunication Services - 0.1%
 
 
 
Telefonica Brasil SA
 
971,600
6,901,032
Wireless Telecommunication Services - 0.0%
 
 
 
TIM SA/Brazil
 
1,020,600
4,755,140
TOTAL COMMUNICATION SERVICES
 
 
11,656,172
Consumer Discretionary - 0.1%
 
 
 
Specialty Retail - 0.1%
 
 
 
Ultrapar Participacoes SA
 
873,500
4,212,518
Vibra Energia SA
 
1,299,178
7,099,779
TOTAL CONSUMER DISCRETIONARY
 
 
11,312,297
Consumer Staples - 0.2%
 
 
 
Beverages - 0.1%
 
 
 
Ambev SA
 
5,695,400
16,070,817
Consumer Staples Distribution & Retail - 0.1%
 
 
 
Raia Drogasil SA
 
1,582,964
7,369,269
Food Products - 0.0%
 
 
 
MBRF Global Foods Co SA
 
779,199
2,764,266
TOTAL CONSUMER STAPLES
 
 
26,204,352
Energy - 0.6%
 
 
 
Oil, Gas & Consumable Fuels - 0.6%
 
 
 
Petroleo Brasileiro SA - Petrobras
 
4,480,297
34,384,912
Petroleo Brasileiro SA - Petrobras (PN)
 
5,578,500
40,025,493
PRIO SA/Brazil (d)
 
1,025,600
9,936,885
TOTAL ENERGY
 
 
84,347,290
Financials - 1.8%
 
 
 
Banks - 1.4%
 
 
 
Banco Bradesco SA
 
1,911,880
6,655,388
Banco Bradesco SA (PN)
 
6,373,704
25,808,490
Banco do Brasil SA
 
2,070,600
9,922,670
Itau Unibanco Holding SA
 
6,613,270
57,176,150
Itausa SA
 
7,092,472
18,409,229
NU Holdings Ltd/Cayman Islands Class A (d)
 
4,084,915
72,507,242
 
 
 
190,479,169
Capital Markets - 0.3%
 
 
 
B3 SA - Brasil Bolsa Balcao
 
6,343,442
19,466,361
Banco BTG Pactual SA unit
 
1,420,500
16,181,459
XP Inc Class A
 
484,901
9,460,419
 
 
 
45,108,239
Financial Services - 0.0%
 
 
 
StoneCo Ltd Class A (d)
 
268,574
4,334,784
Insurance - 0.1%
 
 
 
BB Seguridade Participacoes SA
 
843,300
5,978,533
Caixa Seguridade Participacoes S/A
 
723,000
2,378,059
Porto Seguro SA
 
233,700
2,230,979
 
 
 
10,587,571
TOTAL FINANCIALS
 
 
250,509,763
Health Care - 0.1%
 
 
 
Health Care Providers & Services - 0.1%
 
 
 
Rede D'Or Sao Luiz SA (b)(c)
 
965,120
7,773,775
Industrials - 0.4%
 
 
 
Aerospace & Defense - 0.1%
 
 
 
Embraer SA
 
847,300
15,608,899
Electrical Equipment - 0.2%
 
 
 
WEG SA
 
2,022,364
19,874,907
Ground Transportation - 0.1%
 
 
 
Localiza Rent a Car SA
 
1,108,179
10,189,498
Rumo SA
 
1,566,900
4,394,555
 
 
 
14,584,053
Transportation Infrastructure - 0.0%
 
 
 
Motiva Infraestrutura de Mobilidade SA
 
1,216,500
3,874,123
TOTAL INDUSTRIALS
 
 
53,941,982
Information Technology - 0.0%
 
 
 
Software - 0.0%
 
 
 
TOTVS SA
 
649,800
5,503,128
Materials - 0.7%
 
 
 
Containers & Packaging - 0.0%
 
 
 
Klabin SA unit
 
986,277
3,590,720
Metals & Mining - 0.6%
 
 
 
Gerdau SA
 
1,560,670
6,648,657
Vale SA
 
4,373,907
70,078,921
 
 
 
76,727,578
Paper & Forest Products - 0.1%
 
 
 
Suzano SA
 
837,417
7,849,467
TOTAL MATERIALS
 
 
88,167,765
Utilities - 0.5%
 
 
 
Electric Utilities - 0.4%
 
 
 
Axia Energia
 
1,448,165
14,961,139
Axia Energia Series B
 
297,706
3,270,226
Axia Energia Series C
 
446,615
4,480,789
Cia Energetica de Minas Gerais
 
2,065,174
4,504,907
Cia Paranaense de Energia - Copel
 
1,314,700
3,292,527
CPFL Energia SA
 
277,600
2,714,416
Energisa S/A unit
 
369,210
3,578,624
Equatorial SA
 
1,436,703
11,170,944
 
 
 
47,973,572
Independent Power and Renewable Electricity Producers - 0.0%
 
 
 
Eneva SA (d)
 
1,166,400
4,680,893
Engie Brasil Energia SA
 
343,770
2,140,580
 
 
 
6,821,473
Water Utilities - 0.1%
 
 
 
Cia de Saneamento Basico do Estado de Sao Paulo SABESP
 
593,421
15,923,788
TOTAL UTILITIES
 
 
70,718,833
TOTAL BRAZIL
 
 
610,135,357
CHILE - 0.6%
 
 
 
Consumer Discretionary - 0.1%
 
 
 
Broadline Retail - 0.1%
 
 
 
Falabella SA
 
754,419
5,856,950
Specialty Retail - 0.0%
 
 
 
Empresas Copec SA
 
469,634
4,003,952
TOTAL CONSUMER DISCRETIONARY
 
 
9,860,902
Consumer Staples - 0.0%
 
 
 
Consumer Staples Distribution & Retail - 0.0%
 
 
 
Cencosud SA
 
1,492,365
4,995,443
Financials - 0.3%
 
 
 
Banks - 0.3%
 
 
 
Banco de Chile
 
54,757,695
12,069,089
Banco de Credito e Inversiones SA
 
105,329
7,834,073
Banco Santander Chile
 
79,449,380
6,990,905
TOTAL FINANCIALS
 
 
26,894,067
Industrials - 0.1%
 
 
 
Passenger Airlines - 0.1%
 
 
 
Latam Airlines Group SA
 
380,445,460
12,342,937
Materials - 0.1%
 
 
 
Chemicals - 0.1%
 
 
 
Sociedad Quimica y Minera de Chile SA Class B (d)
 
172,027
13,327,796
Paper & Forest Products - 0.0%
 
 
 
Empresas Cmpc SA
 
1,354,288
2,028,727
TOTAL MATERIALS
 
 
15,356,523
Real Estate - 0.0%
 
 
 
Real Estate Management & Development - 0.0%
 
 
 
Plaza SA
 
923,263
4,014,968
Utilities - 0.0%
 
 
 
Electric Utilities - 0.0%
 
 
 
Enel Americas SA
 
24,817,415
2,343,345
Enel Chile SA
 
33,329,530
2,828,221
TOTAL UTILITIES
 
 
5,171,566
TOTAL CHILE
 
 
78,636,406
CHINA - 25.9%
 
 
 
Communication Services - 5.8%
 
 
 
Diversified Telecommunication Services - 0.1%
 
 
 
China Tower Corp Ltd H Shares (b)(c)
 
5,340,300
7,697,262
Entertainment - 0.6%
 
 
 
37 Interactive Entertainment Network Technology Group Co Ltd A Shares (China)
 
159,900
609,997
Beijing Enlight Media Co Ltd A Shares (China)
 
212,100
596,782
China Ruyi Holdings Ltd (d)(e)
 
13,828,000
3,823,361
Giant Network Group Co Ltd A Shares (China)
 
139,800
884,440
Kingnet Network Co Ltd A Shares (China)
 
154,400
553,479
Kingsoft Corp Ltd
 
1,265,200
4,878,051
Mango Excellent Media Co Ltd A Shares (China)
 
135,207
495,374
NetEase Cloud Music Inc (b)(c)(d)
 
104,950
2,424,889
Netease Inc
 
2,097,450
54,387,056
Tencent Music Entertainment Group Class A ADR
 
690,382
11,584,610
 
 
 
80,238,039
Interactive Media & Services - 5.1%
 
 
 
Autohome Inc Class A ADR
 
77,444
1,706,866
Baidu Inc A Shares (d)
 
2,681,102
51,390,179
Bilibili Inc Z Shares (d)
 
300,812
10,305,765
Kuaishou Technology B Shares (b)(c)
 
3,037,800
31,166,994
Kunlun Tech Co Ltd A Shares (China) (d)
 
90,700
728,027
Meitu Inc (b)(c)
 
4,400,500
4,348,621
Tencent Holdings Ltd
 
7,718,300
593,242,493
 
 
 
692,888,945
Media - 0.0%
 
 
 
China Literature Ltd (b)(c)(d)
 
492,200
2,255,573
Focus Media Information Technology Co Ltd A Shares (China)
 
1,044,220
1,081,509
 
 
 
3,337,082
Wireless Telecommunication Services - 0.0%
 
 
 
China United Network Communications Ltd A Shares (China)
 
2,262,900
1,663,382
TOTAL COMMUNICATION SERVICES
 
 
785,824,710
Consumer Discretionary - 7.3%
 
 
 
Automobile Components - 0.0%
 
 
 
Changzhou Xingyu Automotive Lighting Systems Co Ltd A Shares (China)
 
20,700
410,918
Fuyao Glass Industry Group Co Ltd A Shares (China)
 
145,400
1,291,329
Fuyao Glass Industry Group Co Ltd H Shares (b)(c)
 
730,400
6,250,208
Huayu Automotive Systems Co Ltd A Shares (China)
 
227,900
630,419
Huizhou Desay Sv Automotive Co Ltd A Shares (China)
 
43,100
758,245
Ningbo Tuopu Group Co Ltd A Shares (China)
 
125,550
1,303,585
Sailun Group Co Ltd A Shares (China)
 
237,600
541,728
Zhejiang Wanfeng Auto Wheel Co Ltd A Shares (China)
 
153,200
339,159
 
 
 
11,525,591
Automobiles - 1.0%
 
 
 
Anhui Jianghuai Automobile Group Corp Ltd A Shares (China) (d)
 
157,800
1,241,653
BAIC BluePark New Energy Technology Co Ltd A Shares (China) (d)
 
402,600
466,203
BYD Co Ltd A Shares (China)
 
392,600
5,133,012
BYD Co Ltd H Shares
 
4,437,000
55,315,483
Chongqing Afari Technology Co Ltd A Shares (China) (d)
 
326,700
498,151
Chongqing Changan Automobile Co Ltd A Shares (China)
 
598,376
957,161
Dongfeng Motor Group Co Ltd H Shares (d)
 
2,702,000
3,126,698
Geely Automobile Holdings Ltd
 
7,313,000
15,062,041
Great Wall Motor Co Ltd A Shares (China)
 
201,600
600,007
Great Wall Motor Co Ltd H Shares
 
2,783,500
4,721,058
Guangzhou Automobile Group Co Ltd A Shares (China)
 
365,200
416,066
Guangzhou Automobile Group Co Ltd H Shares (e)
 
184,000
86,440
Li Auto Inc A Shares (d)
 
1,505,148
12,578,471
NIO Inc A Shares (d)
 
2,231,439
10,638,140
SAIC Motor Corp Ltd A Shares (China)
 
554,000
1,126,847
Seres Group Co Ltd A Shares (China)
 
118,100
1,768,336
XPeng Inc A Shares (d)
 
1,504,252
13,540,674
Yadea Group Holdings Ltd (b)(c)
 
1,499,185
2,118,637
Zhejiang Leapmotor Technology Co Ltd H Shares (b)(c)(d)
 
613,100
3,329,156
 
 
 
132,724,234
Broadline Retail - 4.3%
 
 
 
Alibaba Group Holding Ltd
 
20,693,440
440,223,691
CCOOP Group Co Ltd A Shares (China) (d)
 
1,304,900
456,131
JD.com Inc A Shares
 
2,876,257
41,017,268
MINISO Group Holding Ltd A Shares
 
596,364
2,769,287
PDD Holdings Inc Class A ADR (d)
 
855,016
86,399,367
Vipshop Holdings Ltd Class A ADR
 
375,206
6,419,775
 
 
 
577,285,519
Distributors - 0.0%
 
 
 
Zhejiang China Commodities City Group Co Ltd A Shares (China)
 
396,200
917,015
Diversified Consumer Services - 0.1%
 
 
 
New Oriental Education & Technology Group Inc
 
1,629,410
9,934,721
TAL Education Group Class A ADR (d)
 
501,378
6,367,501
 
 
 
16,302,222
Hotels, Restaurants & Leisure - 1.2%
 
 
 
H World Group Ltd ADR
 
240,891
11,444,731
Haidilao International Holding Ltd (b)(c)(e)
 
2,014,000
4,119,727
Meituan B Shares (b)(c)(d)
 
5,997,120
74,139,298
Tongcheng Travel Holdings Ltd (b)
 
1,556,000
4,628,901
Trip.com Group Ltd
 
747,912
45,903,585
Yum China Holdings Inc (Hong Kong)
 
446,287
22,222,660
 
 
 
162,458,902
Household Durables - 0.2%
 
 
 
Beijing Roborock Technology Co Ltd A Shares (China)
 
18,713
383,883
Ecovacs Robotics Co Ltd A Shares (China)
 
41,800
431,845
Gree Electric Appliances Inc of Zhuhai A Shares (China)
 
202,400
1,126,749
Haier Smart Home Co Ltd A Shares (China)
 
453,300
1,637,338
Haier Smart Home Co Ltd H Shares
 
2,921,600
9,648,786
Midea Group Co Ltd A Shares (China)
 
253,900
2,833,833
Midea Group Co Ltd H Shares
 
509,300
5,583,844
Sichuan Changhong Electric Co Ltd A Shares (China)
 
333,300
467,941
 
 
 
22,114,219
Specialty Retail - 0.2%
 
 
 
China Tourism Group Duty Free Corp Ltd A Shares (China)
 
133,800
1,720,100
China Tourism Group Duty Free Corp Ltd H Shares (b)(c)(e)
 
8,900
103,331
Chow Tai Fook Jewellery Group Ltd
 
2,376,600
4,380,773
Pop Mart International Group Ltd (b)(c)
 
647,000
18,518,606
 
 
 
24,722,810
Textiles, Apparel & Luxury Goods - 0.3%
 
 
 
ANTA Sports Products Ltd
 
1,521,800
15,243,129
Bosideng International Holdings Ltd
 
5,584,000
3,409,542
Laopu Gold Co Ltd H Shares
 
33,600
3,346,193
Li Ning Co Ltd
 
2,802,000
7,331,304
Shenzhou International Group Holdings Ltd
 
995,900
7,942,112
 
 
 
37,272,280
TOTAL CONSUMER DISCRETIONARY
 
 
985,322,792
Consumer Staples - 0.8%
 
 
 
Beverages - 0.5%
 
 
 
Anhui Gujing Distillery Co Ltd A Shares (China)
 
30,000
570,158
Anhui Gujing Distillery Co Ltd B Shares
 
143,500
1,495,232
Beijing Yanjing Brewery Co Ltd A Shares (China)
 
203,700
354,847
China Resources Beer Holdings Co Ltd
 
1,953,878
6,557,863
Eastroc Beverage Group Co Ltd A Shares (China)
 
37,600
1,352,935
Jiangsu King's Luck Brewery JSC Ltd A Shares (China)
 
90,200
434,668
Jiangsu Yanghe Distillery Co Ltd A Shares (China)
 
108,900
866,594
Kweichow Moutai Co Ltd A Shares (China)
 
90,500
18,238,645
Luzhou Laojiao Co Ltd A Shares (China)
 
106,400
1,850,435
Nongfu Spring Co Ltd H Shares (b)(c)
 
2,425,800
14,886,247
Shanxi Xinghuacun Fen Wine Factory Co Ltd A Shares (China)
 
88,140
2,168,205
Tsingtao Brewery Co Ltd A Shares (China)
 
54,200
468,420
Tsingtao Brewery Co Ltd H Shares
 
746,000
4,724,988
Wuliangye Yibin Co Ltd A Shares (China)
 
280,600
4,238,213
 
 
 
58,207,450
Consumer Staples Distribution & Retail - 0.1%
 
 
 
Alibaba Health Information Technology Ltd (d)
 
6,798,000
5,673,629
JD Health International Inc (b)(c)(d)
 
1,349,650
10,927,326
Yonghui Superstores Co Ltd A Shares (China) (d)
 
655,300
414,762
 
 
 
17,015,717
Food Products - 0.2%
 
 
 
Angel Yeast Co Ltd A Shares (China)
 
62,700
377,458
China Feihe Ltd (b)(c)
 
4,369,000
2,169,931
China Mengniu Dairy Co Ltd
 
3,762,000
7,849,439
Foshan Haitian Flavouring & Food Co Ltd A Shares (China)
 
335,256
1,702,382
Guangdong Haid Group Co Ltd A Shares (China)
 
120,300
891,380
Henan Shuanghui Investment & Development Co Ltd A Shares (China)
 
251,023
927,287
Inner Mongolia Yili Industrial Group Co Ltd A Shares (China)
 
457,400
1,733,077
Muyuan Foods Co Ltd A Shares (China)
 
394,840
2,612,672
New Hope Liuhe Co Ltd A Shares (China)
 
326,000
423,928
Tingyi Cayman Islands Holding Corp
 
2,376,000
3,607,143
Want Want China Holdings Ltd
 
5,688,000
3,436,638
Wens Foodstuff Group Co Ltd A Shares (China)
 
480,980
1,079,338
 
 
 
26,810,673
Personal Care Products - 0.0%
 
 
 
Giant Biogene Holding Co ltd (b)(c)(e)
 
451,400
1,920,679
Hengan International Group Co Ltd
 
755,000
2,735,052
 
 
 
4,655,731
Tobacco - 0.0%
 
 
 
Smoore International Holdings Ltd (b)(c)(e)
 
2,238,000
3,242,939
TOTAL CONSUMER STAPLES
 
 
109,932,510
Energy - 0.7%
 
 
 
Energy Equipment & Services - 0.0%
 
 
 
China Oilfield Services Ltd H Shares
 
2,182,000
2,393,689
Yantai Jereh Oilfield Services Group Co Ltd A Shares (China)
 
74,000
939,404
 
 
 
3,333,093
Oil, Gas & Consumable Fuels - 0.7%
 
 
 
China Coal Energy Co Ltd H Shares
 
2,226,000
3,256,894
China Merchants Energy Shipping Co Ltd A Shares (China)
 
583,400
953,346
China Petroleum & Chemical Corp A Shares (China)
 
2,341,700
2,192,896
China Petroleum & Chemical Corp H Shares
 
27,403,000
18,871,768
China Shenhua Energy Co Ltd A Shares (China)
 
482,200
2,908,425
China Shenhua Energy Co Ltd H Shares
 
4,063,000
22,374,299
COSCO SHIPPING Energy Transportation Co Ltd A Shares (China)
 
301,200
684,570
Guanghui Energy Co Ltd A Shares (China)
 
463,400
373,960
Inner Mongolia Dian Tou Energy Corp Ltd A Shares (China)
 
162,000
673,937
Inner Mongolia Yitai Coal Co Ltd B Shares
 
1,120,104
2,240,208
PetroChina Co Ltd A Shares (China)
 
1,579,400
2,503,684
PetroChina Co Ltd H Shares
 
25,392,000
30,163,178
Shaanxi Coal Industry Co Ltd A Shares (China)
 
700,900
2,246,348
Shanxi Coking Coal Energy Group Co Ltd A Shares (China)
 
410,560
431,718
Shanxi Lu'an Environmental Energy Development Co Ltd A Shares (China)
 
216,200
423,894
Yankuang Energy Group Co Ltd A Shares (China)
 
435,575
917,297
Yankuang Energy Group Co Ltd H Shares
 
3,920,600
5,726,251
 
 
 
96,942,673
TOTAL ENERGY
 
 
100,275,766
Financials - 4.6%
 
 
 
Banks - 2.8%
 
 
 
Agricultural Bank of China Ltd A Shares (China)
 
6,153,900
5,948,748
Agricultural Bank of China Ltd H Shares
 
33,322,000
23,331,926
Bank of Beijing Co Ltd A Shares (China)
 
1,528,580
1,165,386
Bank of Changsha Co Ltd A Shares (China)
 
291,100
408,694
Bank of Chengdu Co Ltd A Shares (China)
 
306,500
710,725
Bank of China Ltd A Shares (China)
 
2,878,200
2,223,316
Bank of China Ltd H Shares
 
85,612,000
51,178,049
Bank of Communications Co Ltd A Shares (China)
 
3,865,800
3,681,317
Bank of Communications Co Ltd H Shares
 
10,533,000
9,060,529
Bank of Hangzhou Co Ltd A Shares (China)
 
524,120
1,218,366
Bank of Jiangsu Co Ltd A Shares (China)
 
1,326,500
1,932,959
Bank of Nanjing Co Ltd A Shares (China)
 
893,700
1,353,711
Bank of Ningbo Co Ltd A Shares (China)
 
477,380
2,125,351
Bank of Shanghai Co Ltd A Shares (China)
 
1,027,077
1,365,151
Bank of Suzhou Co Ltd A Shares (China)
 
323,600
383,101
China CITIC Bank Corp Ltd A Shares (China)
 
890,300
920,812
China CITIC Bank Corp Ltd H Shares
 
9,852,000
9,180,958
China Construction Bank Corp A Shares (China)
 
1,534,900
1,925,318
China Construction Bank Corp H Shares
 
115,833,000
116,960,098
China Everbright Bank Co Ltd A Shares (China)
 
3,328,100
1,589,426
China Everbright Bank Co Ltd H Shares
 
31,000
12,936
China Merchants Bank Co Ltd A Shares (China)
 
1,494,500
8,313,348
China Merchants Bank Co Ltd H Shares
 
4,697,346
28,777,791
China Minsheng Banking Corp Ltd A Shares (China)
 
2,572,500
1,387,690
China Minsheng Banking Corp Ltd H Shares
 
8,007,540
3,987,319
China Zheshang Bank Co Ltd A Shares (China)
 
1,558,480
652,379
Chongqing Rural Commercial Bank Co Ltd A Shares (China)
 
643,200
599,552
Chongqing Rural Commercial Bank Co Ltd H Shares
 
2,720,000
2,029,877
CNPC Capital Co Ltd A Shares (China)
 
609,100
787,688
Huaxia Bank Co Ltd A Shares (China)
 
958,800
874,426
Industrial & Commercial Bank of China Ltd A Shares (China)
 
4,546,200
4,741,245
Industrial & Commercial Bank of China Ltd H Shares
 
78,412,000
65,141,752
Industrial Bank Co Ltd A Shares (China)
 
1,529,600
4,114,578
Ping An Bank Co Ltd A Shares (China)
 
1,403,300
2,186,175
Postal Savings Bank of China Co Ltd A Shares (China)
 
2,173,500
1,582,035
Postal Savings Bank of China Co Ltd H Shares (b)(c)
 
10,764,000
7,027,099
Shanghai Pudong Development Bank Co Ltd A Shares (China)
 
2,300,300
3,322,187
Shanghai Rural Commercial Bank Co Ltd A Shares (China)
 
697,400
861,749
 
 
 
373,063,767
Capital Markets - 0.4%
 
 
 
Beijing Compass Technology Development Co Ltd A Shares (China)
 
43,900
783,055
BOC International China Co Ltd A Shares (China)
 
200,700
392,927
Caitong Securities Co Ltd A Shares (China)
 
335,190
448,897
Capital Securities Co Ltd A Shares (China)
 
131,700
338,733
Changjiang Securities Co Ltd A Shares (China)
 
399,300
497,420
China CITIC Financial Asset Management Co Ltd H Shares (b)(c)(d)
 
17,034,000
1,918,808
China Galaxy Securities Co Ltd A Shares (China)
 
524,000
1,132,158
China Galaxy Securities Co Ltd H Shares
 
4,222,500
5,686,141
China Great Wall Securities Co Ltd A Shares (China)
 
291,500
413,029
China International Capital Corp Ltd A Shares (China)
 
211,400
1,050,044
China International Capital Corp Ltd H Shares (b)(c)
 
2,178,400
5,917,186
China Merchants Securities Co Ltd A Shares (China)
 
536,400
1,320,215
CITIC Securities Co Ltd A Shares (China)
 
885,895
3,578,369
CITIC Securities Co Ltd H Shares
 
1,892,425
7,083,180
CSC Financial Co Ltd A Shares (China)
 
313,000
1,082,842
Dongxing Securities Co Ltd A Shares (China)
 
233,500
466,882
East Money Information Co Ltd A Shares (China)
 
1,142,017
3,729,102
Everbright Securities Co Ltd A Shares (China)
 
282,300
680,598
Founder Securities Co Ltd A Shares (China)
 
595,000
672,737
GF Securities Co Ltd A Shares (China)
 
429,300
1,388,853
GF Securities Co Ltd H Shares
 
1,268,400
2,961,510
Guolian Minsheng Securities Co Ltd A Shares (China)
 
315,300
440,402
Guosen Securities Co Ltd A Shares (China)
 
493,300
889,845
Guotai Haitong Securities Co Ltd A Shares (China)
 
1,021,850
2,914,846
Guotai Haitong Securities Co Ltd H Shares (b)(c)
 
2,321,088
4,938,043
Guoyuan Securities Co Ltd A Shares (China)
 
315,110
378,490
Hithink RoyalFlush Information Network Co Ltd A Shares (China)
 
38,900
1,951,729
Huatai Securities Co Ltd A Shares (China)
 
532,200
1,757,732
Huatai Securities Co Ltd H Shares (b)(c)
 
1,650,200
3,937,447
Industrial Securities Co Ltd A Shares (China)
 
623,510
617,075
Orient Securities Co Ltd/China A Shares (China)
 
539,508
793,925
SDIC Capital Co Ltd A Shares (China)
 
462,300
511,395
Shenwan Hongyuan Group Co Ltd A Shares (China)
 
1,628,600
1,187,759
Sinolink Securities Co Ltd A Shares (China)
 
268,400
359,836
SooChow Securities Co Ltd A Shares (China)
 
358,945
494,135
Tianfeng Securities Co Ltd A Shares (China) (d)
 
732,400
435,115
Western Securities Co Ltd A Shares (China)
 
323,300
372,515
Zheshang Securities Co Ltd A Shares (China)
 
330,900
509,315
Zhongtai Securities Co Ltd A Shares (China)
 
573,000
526,698
 
 
 
64,558,988
Consumer Finance - 0.0%
 
 
 
Qfin Holdings Inc Class A ADR
 
119,631
1,860,262
Financial Services - 0.0%
 
 
 
Far East Horizon Ltd
 
2,879,000
2,878,226
Insurance - 1.4%
 
 
 
China Life Insurance Co Ltd A Shares (China)
 
202,700
1,449,742
China Life Insurance Co Ltd H Shares
 
8,960,000
40,005,223
China Pacific Insurance Group Co Ltd A Shares (China)
 
495,500
3,246,668
China Pacific Insurance Group Co Ltd H Shares
 
3,175,000
16,012,980
China Taiping Insurance Holdings Co Ltd
 
1,731,777
5,679,411
New China Life Insurance Co Ltd A Shares (China)
 
153,000
1,831,136
New China Life Insurance Co Ltd H Shares
 
1,117,500
9,090,657
People's Insurance Co Group of China Ltd/The A Shares (China)
 
687,600
910,964
People's Insurance Co Group of China Ltd/The H Shares
 
10,506,000
9,144,891
PICC Property & Casualty Co Ltd H Shares
 
8,309,840
17,221,529
Ping An Insurance Group Co of China Ltd A Shares (China)
 
772,194
7,414,529
Ping An Insurance Group Co of China Ltd H Shares
 
8,072,000
74,870,638
 
 
 
186,878,368
TOTAL FINANCIALS
 
 
629,239,611
Health Care - 1.0%
 
 
 
Biotechnology - 0.3%
 
 
 
3SBio Inc (b)(c)
 
2,197,500
6,554,160
Akeso Inc (b)(c)(d)
 
777,000
10,980,505
Beijing Tiantan Biological Products Corp Ltd A Shares (China)
 
143,260
343,118
Beijing Wantai Biological Pharmacy Enterprise Co Ltd A Shares (China) (d)
 
76,307
461,569
Chongqing Zhifei Biological Products Co Ltd A Shares (China) (d)
 
173,050
432,392
Imeik Technology Development Co Ltd A Shares (China)
 
21,900
440,189
Innovent Biologics Inc (b)(c)(d)
 
1,754,500
18,214,046
Remegen Co Ltd H Shares (b)(c)(d)(e)
 
226,000
2,435,862
Shanghai RAAS Blood Products Co Ltd A Shares (China)
 
481,100
435,995
Sichuan Kelun-Biotech Biopharmaceutical Co Ltd H Shares (d)(e)
 
58,800
3,126,627
 
 
 
43,424,463
Health Care Equipment & Supplies - 0.0%
 
 
 
APT Medical Inc A Shares (China)
 
10,087
336,632
Jiangsu Yuyue Medical Equipment & Supply Co Ltd A Shares (China)
 
72,500
416,118
Shandong Weigao Group Medical Polymer Co Ltd H Shares
 
2,996,000
1,917,538
Shanghai United Imaging Healthcare Co Ltd A Shares (China)
 
59,571
1,107,999
Shenzhen Mindray Bio-Medical Electronics Co Ltd A Shares (China)
 
87,600
2,384,893
Shenzhen New Industries Biomedical Engineering Co Ltd A Shares (China)
 
56,800
440,232
 
 
 
6,603,412
Health Care Providers & Services - 0.1%
 
 
 
Aier Eye Hospital Group Co Ltd A Shares (China)
 
674,271
1,073,713
Guangzhou Baiyunshan Pharmaceutical Holdings Co Ltd A Shares (China)
 
102,000
370,482
Huadong Medicine Co Ltd A Shares (China)
 
126,880
658,332
Shanghai Pharmaceuticals Holding Co Ltd A Shares (China)
 
190,900
475,070
Shanghai Pharmaceuticals Holding Co Ltd H Shares
 
18,900
28,790
Sinopharm Group Co Ltd H Shares
 
1,616,400
4,320,277
 
 
 
6,926,664
Life Sciences Tools & Services - 0.3%
 
 
 
Genscript Biotech Corp (d)
 
1,448,000
2,381,792
Hangzhou Tigermed Consulting Co Ltd A Shares (China)
 
23,900
216,627
Hangzhou Tigermed Consulting Co Ltd H Shares (b)(c)
 
3,800
26,851
Pharmaron Beijing Co Ltd A Shares (China)
 
98,225
419,365
Pharmaron Beijing Co Ltd H Shares (b)(c)
 
13,075
34,611
Wuxi Apptec Co Ltd A Shares (China)
 
178,944
2,450,530
Wuxi Apptec Co Ltd H Shares (b)(c)
 
460,922
6,560,915
Wuxi Biologics Cayman Inc (b)(c)(d)
 
4,185,500
19,823,544
WuXi XDC Cayman Inc (d)
 
444,000
3,569,232
XtalPi Holdings Ltd (d)(e)
 
2,073,000
3,205,520
 
 
 
38,688,987
Pharmaceuticals - 0.3%
 
 
 
Beijing Tong Ren Tang Co Ltd A Shares (China)
 
99,500
433,968
Changchun High-Tech Industry Group Co Ltd A Shares (China)
 
29,500
406,955
China Resources Sanjiu Medical & Pharmaceutical Co Ltd A Shares (China)
 
120,694
488,037
CSPC Innovation Pharmaceutical Co Ltd A Shares (China)
 
101,460
567,303
CSPC Pharmaceutical Group Ltd
 
9,715,840
11,939,435
Haisco Pharmaceutical Group Co Ltd A Shares (China)
 
67,500
492,092
Hansoh Pharmaceutical Group Co Ltd (b)(c)
 
1,824,000
9,012,481
Jiangsu Hengrui Pharmaceuticals Co Ltd A Shares (China)
 
461,075
3,857,464
Kangmei Pharmaceutical Co Ltd rights (d)(f)
 
9,108
0
Shanghai Allist Pharmaceuticals Co Ltd A Shares (China)
 
32,536
461,380
Shanghai Fosun Pharmaceutical Group Co Ltd A Shares (China)
 
139,000
533,266
Shanghai Fosun Pharmaceutical Group Co Ltd H Shares
 
19,000
49,664
Shenzhen Salubris Pharmaceuticals Co Ltd A Shares (China)
 
80,600
543,884
Sichuan Biokin Pharmaceutical Co Ltd A Shares (China) (d)
 
12,933
516,725
Sichuan Kelun Pharmaceutical Co Ltd A Shares (China)
 
115,500
514,219
Sino Biopharmaceutical Ltd
 
12,429,000
10,564,197
Yunnan Baiyao Group Co Ltd A Shares (China)
 
129,400
1,035,126
Zhangzhou Pientzehuang Pharmaceutical Co Ltd A Shares (China)
 
43,700
1,008,304
 
 
 
42,424,500
TOTAL HEALTH CARE
 
 
138,068,026
Industrials - 1.3%
 
 
 
Aerospace & Defense - 0.0%
 
 
 
AECC Aviation Power Co Ltd A Shares (China)
 
192,600
1,283,584
AviChina Industry & Technology Co Ltd H Shares
 
3,367,000
1,788,642
Kuang-Chi Technologies Co Ltd A Shares (China) (d)
 
155,700
1,063,197
 
 
 
4,135,423
Air Freight & Logistics - 0.2%
 
 
 
J&T Global Express Ltd B Shares (d)
 
2,866,600
3,731,816
JD Logistics Inc (b)(c)(d)
 
2,405,000
3,444,906
SF Holding Co Ltd A Shares (China)
 
347,000
1,871,831
YTO Express Group Co Ltd A Shares (China)
 
247,400
600,728
ZTO Express Cayman Inc A Shares
 
504,549
11,140,523
 
 
 
20,789,804
Building Products - 0.0%
 
 
 
Beijing New Building Materials PLC A Shares (China)
 
122,200
490,435
Commercial Services & Supplies - 0.0%
 
 
 
Zhejiang Weiming Environment Protection Co Ltd A Shares (China)
 
123,090
487,632
Construction & Engineering - 0.1%
 
 
 
China Communications Services Corp Ltd H Shares
 
2,880,000
1,754,816
China Energy Engineering Corp Ltd A Shares (China)
 
2,344,100
819,385
China National Chemical Engineering Co Ltd A Shares (China)
 
441,000
564,592
China Railway Group Ltd A Shares (China)
 
1,495,700
1,226,380
China Railway Group Ltd H Shares
 
5,048,000
2,914,259
China State Construction Engineering Corp Ltd A Shares (China)
 
2,985,680
2,164,610
China State Construction International Holdings Ltd
 
1,591,000
1,910,316
Metallurgical Corp of China Ltd A Shares (China)
 
1,289,500
580,593
Power Construction Corp of China Ltd A Shares (China)
 
1,244,400
1,013,170
Sichuan Road and Bridge Group Co Ltd A Shares (China)
 
523,600
731,349
 
 
 
13,679,470
Electrical Equipment - 0.3%
 
 
 
China XD Electric Co Ltd A Shares (China)
 
370,300
772,374
CNGR Advanced Material Co Ltd A Shares (China)
 
67,720
533,538
Contemporary Amperex Technology Co Ltd A Shares (China)
 
318,480
16,034,524
Contemporary Amperex Technology Co Ltd H Shares
 
93,900
5,859,127
Dongfang Electric Corp Ltd A Shares (China)
 
220,400
787,851
Eve Energy Co Ltd A Shares (China)
 
147,855
1,356,733
GEM Co Ltd A Shares (China)
 
370,000
476,887
Goldwind Science & Technology Co Ltd A Shares (China)
 
249,400
936,719
Goneo Group Co Ltd A Shares (China)
 
65,535
393,865
Gotion High-Tech Co Ltd A Shares (China)
 
130,500
712,970
Jiangsu Zhongtian Technology Co Ltd A Shares (China)
 
246,600
792,469
JL Mag Rare-Earth Co Ltd A Shares (China)
 
82,400
446,270
NARI Technology Co Ltd A Shares (China)
 
580,494
2,104,283
Ningbo Deye Technology Co Ltd A Shares (China)
 
65,591
792,272
Ningbo Orient Wires & Cables Co Ltd A Shares (China)
 
49,700
396,213
Ningbo Sanxing Medical Electric Co Ltd A Shares (China)
 
101,500
345,012
Shanghai Electric Group Co Ltd A Shares (China) (d)
 
911,600
1,142,164
Sungrow Power Supply Co Ltd A Shares (China)
 
149,840
3,254,697
Sunwoda Electronic Co Ltd A Shares (China)
 
133,500
449,945
TBEA Co Ltd A Shares (China)
 
365,070
1,428,404
Wolong Electric Group Co Ltd A Shares (China)
 
112,900
713,608
Zhejiang Chint Electrics Co Ltd A Shares (China)
 
155,200
652,569
Zhejiang Huayou Cobalt Co Ltd A Shares (China)
 
137,250
1,421,513
 
 
 
41,804,007
Ground Transportation - 0.0%
 
 
 
Beijing-Shanghai High Speed Railway Co Ltd A Shares (China)
 
3,536,000
2,477,121
Daqin Railway Co Ltd A Shares (China)
 
1,456,100
1,051,479
 
 
 
3,528,600
Industrial Conglomerates - 0.1%
 
 
 
CITIC Ltd
 
4,905,000
7,854,681
Fosun International Ltd
 
2,950,000
1,570,896
 
 
 
9,425,577
Machinery - 0.4%
 
 
 
Airtac International Group
 
168,551
6,087,381
China CSSC Holdings Ltd A Shares (China)
 
543,700
2,623,181
CRRC Corp Ltd A Shares (China)
 
1,755,400
1,593,350
CRRC Corp Ltd H Shares
 
5,267,000
3,910,421
Haitian International Holdings Ltd
 
769,000
2,380,208
Jiangsu Hengli Hydraulic Co Ltd A Shares (China)
 
96,876
1,510,606
Sany Heavy Industry Co Ltd A Shares (China)
 
612,100
1,930,051
Shandong Himile Mechanical Science & Technology Co Ltd A Shares (China)
 
57,800
693,093
Shenzhen Envicool Technology Co Ltd A Shares (China)
 
70,000
1,077,326
Shenzhen Inovance Technology Co Ltd A Shares (China)
 
97,450
1,046,167
Sinotruk Hong Kong Ltd
 
831,500
3,823,233
UBTech Robotics Corp Ltd H Shares (d)(e)
 
260,600
4,666,855
Weichai Power Co Ltd A Shares (China)
 
495,900
1,693,483
Weichai Power Co Ltd H Shares
 
2,333,200
7,950,460
XCMG Construction Machinery Co Ltd A Shares (China)
 
849,000
1,311,650
Yutong Bus Co Ltd A Shares (China)
 
159,900
710,743
Zhejiang Sanhua Intelligent Controls Co Ltd A Shares (China)
 
134,800
987,767
Zhuzhou CRRC Times Electric Co Ltd A Shares (China)
 
61,235
503,322
Zhuzhou CRRC Times Electric Co Ltd H Shares
 
532,300
2,908,125
Zoomlion Heavy Industry Science and Technology Co Ltd A Shares (China)
 
319,900
403,571
Zoomlion Heavy Industry Science and Technology Co Ltd H Shares (e)
 
214,800
241,138
 
 
 
48,052,131
Marine Transportation - 0.0%
 
 
 
COSCO SHIPPING Holdings Co Ltd A Shares (China)
 
913,410
1,890,742
COSCO SHIPPING Holdings Co Ltd H Shares (e)
 
3,120,050
5,471,600
 
 
 
7,362,342
Passenger Airlines - 0.0%
 
 
 
Air China Ltd A Shares (China) (d)
 
793,800
948,895
Air China Ltd H Shares (d)
 
188,000
167,975
China Eastern Airlines Corp Ltd A Shares (China) (d)
 
1,237,400
968,311
China Southern Airlines Co Ltd A Shares (China) (d)
 
655,400
679,747
China Southern Airlines Co Ltd H Shares (d)
 
218,000
162,410
Hainan Airlines Holding Co Ltd A Shares (China) (d)
 
3,097,300
752,967
Spring Airlines Co Ltd A Shares (China)
 
70,800
572,673
 
 
 
4,252,978
Professional Services - 0.1%
 
 
 
Kanzhun Ltd ADR
 
448,868
8,313,035
Trading Companies & Distributors - 0.0%
 
 
 
BOC Aviation Ltd (b)(c)
 
250,000
2,595,333
Transportation Infrastructure - 0.1%
 
 
 
China Merchants Expressway Network & Technology Holdings Co Ltd A Shares (China)
 
411,300
554,967
China Merchants Port Holdings Co Ltd
 
1,517,283
3,055,115
Jiangsu Expressway Co Ltd H Shares
 
1,472,000
1,940,784
Shanghai International Airport Co Ltd A Shares (China)
 
90,100
399,191
Zhejiang Expressway Co Ltd H Shares
 
1,949,920
1,839,571
 
 
 
7,789,628
TOTAL INDUSTRIALS
 
 
172,706,395
Information Technology - 2.1%
 
 
 
Communications Equipment - 0.1%
 
 
 
BYD Electronic International Co Ltd
 
950,000
4,061,648
Hengtong Optic-electric Co Ltd A Shares (China)
 
178,200
897,441
Suzhou TFC Optical Communication Co Ltd A Shares (China)
 
56,212
2,008,810
Yealink Network Technology Corp Ltd A Shares (China)
 
91,530
505,197
Zhongji Innolight Co Ltd A Shares (China)
 
80,280
7,494,764
ZTE Corp A Shares (China)
 
292,000
1,616,726
ZTE Corp H Shares (e)
 
908,680
3,296,424
 
 
 
19,881,010
Electronic Equipment, Instruments & Components - 0.4%
 
 
 
Aac Technologies Holdings Inc
 
938,000
4,442,595
Accelink Technologies Co Ltd A Shares (China)
 
58,300
607,258
Avary Holding Shenzhen Co Ltd A Shares (China)
 
167,500
1,375,082
BOE Technology Group Co Ltd A Shares (China)
 
2,651,000
1,666,468
Chaozhou Three-Circle Group Co Ltd A Shares (China)
 
138,400
995,433
China Railway Signal & Communication Corp Ltd A Shares (China)
 
517,589
409,500
Eoptolink Technology Inc Ltd A Shares (China)
 
71,800
4,332,633
Everdisplay Optronics Shanghai Co Ltd A Shares (China) (d)
 
995,564
379,507
Foxconn Industrial Internet Co Ltd A Shares (China)
 
956,796
7,941,472
GoerTek Inc A Shares (China)
 
252,200
943,245
Hgtech Co Ltd A Shares (China)
 
72,600
808,425
Lens Technology Co Ltd A Shares (China)
 
360,000
1,882,404
Lingyi iTech Guangdong Co A Shares (China)
 
525,900
1,107,516
Luxshare Precision Industry Co Ltd A Shares (China)
 
526,228
3,912,788
Maxscend Microelectronics Co Ltd A Shares (China)
 
38,576
434,495
Ofilm Group Co Ltd A Shares (China) (d)
 
241,900
339,618
Shanghai BOCHU Electronic Technology Corp Ltd A Shares (China)
 
20,825
453,481
Shengyi Electronics Co Ltd A Shares (China)
 
50,077
634,629
Shengyi Technology Co Ltd A Shares (China)
 
175,500
1,740,673
Shennan Circuits Co Ltd A Shares (China)
 
48,132
1,617,382
Shenzhen Everwin Precision Technology Co Ltd A Shares (China)
 
98,200
545,968
Shenzhen Kinwong Electronic Co Ltd A Shares (China)
 
71,100
655,694
Sunny Optical Technology Group Co Ltd
 
857,100
6,868,123
SUPCON Technology Co Ltd A Shares (China)
 
57,121
688,813
Suzhou Dongshan Precision Manufacturing Co Ltd A Shares (China)
 
132,300
1,472,252
TCL Technology Group Corp A Shares (China)
 
1,501,390
1,047,469
Unisplendour Corp Ltd A Shares (China)
 
206,403
742,864
Victory Giant Technology Huizhou Co Ltd A Shares (China)
 
62,300
2,372,898
Wingtech Technology Co Ltd A Shares (China) (d)
 
89,900
509,521
Wuhan Guide Infrared Co Ltd A Shares (China) (d)
 
308,469
736,146
WUS Printed Circuit Kunshan Co Ltd A Shares (China)
 
138,990
1,394,548
Zhejiang Dahua Technology Co Ltd A Shares (China)
 
236,900
646,114
 
 
 
53,705,014
IT Services - 0.1%
 
 
 
GDS Holdings Ltd A Shares (d)
 
1,355,300
7,546,444
Isoftstone Information Technology Group Co Ltd A Shares (China)
 
68,900
476,231
Range Intelligent Computing Technology Group Co Ltd A Shares (China)
 
98,400
1,158,280
 
 
 
9,180,955
Semiconductors & Semiconductor Equipment - 0.5%
 
 
 
ACM Research Shanghai Inc A Shares (China)
 
17,342
470,985
Advanced Micro-Fabrication Equipment Inc China A Shares (China)
 
45,253
2,265,010
Amlogic Shanghai Co Ltd A Shares (China) (d)
 
30,434
383,459
Bestechnic Shanghai Co Ltd A Shares (China)
 
11,978
379,926
Cambricon Technologies Corp Ltd A Shares (China) (d)
 
30,235
5,475,246
China Resources Microelectronics Ltd A Shares (China)
 
95,934
880,025
CSI Solar Co Ltd A Shares (China)
 
266,499
585,767
Flat Glass Group Co Ltd A Shares (China) (d)
 
137,400
318,410
GalaxyCore Inc A Shares (China)
 
156,800
363,368
GCL Technology Holdings Ltd (d)(e)
 
29,400,000
4,064,464
Gigadevice Semiconductor Inc A Shares (China)
 
48,184
2,182,498
Hangzhou Chang Chuan Technology Co Ltd A Shares (China)
 
45,600
836,533
Hangzhou First Applied Material Co Ltd A Shares (China)
 
188,657
461,618
Hangzhou Silan Microelectronics Co Ltd A Shares (China)
 
120,400
578,294
Hua Hong Semiconductor Ltd (b)(c)(d)
 
880,000
13,123,232
Hua Hong Semiconductor Ltd A Shares (China) (d)
 
29,386
655,629
Hwatsing Technology Co Ltd A Shares (China)
 
25,540
693,925
Hygon Information Technology Co Ltd A Shares (China)
 
167,986
6,390,077
Ingenic Semiconductor Co Ltd A Shares (China)
 
34,900
721,922
JA Solar Technology Co Ltd A Shares (China) (d)
 
239,172
389,116
JCET Group Co Ltd A Shares (China)
 
129,300
920,310
Jinko Solar Co Ltd A Shares (China) (d)
 
723,021
658,356
LONGi Green Energy Technology Co Ltd A Shares (China) (d)
 
547,648
1,408,558
Loongson Technology Corp Ltd (China) (d)
 
28,532
686,607
Montage Technology Co Ltd A Shares (China)
 
82,765
2,165,040
National Silicon Industry Group Co Ltd A Shares (China) (d)
 
198,567
640,110
NAURA Technology Group Co Ltd A Shares (China)
 
52,305
3,575,633
Nexchip Semiconductor Corp A Shares (China)
 
144,967
762,814
OmniVision Integrated Circuits Group Inc A Shares (China)
 
87,235
1,520,895
Piotech Inc A Shares (China)
 
20,320
1,031,061
Rockchip Electronics Co Ltd A Shares (China)
 
30,400
836,642
Sanan Optoelectronics CO Ltd A Shares (China)
 
360,600
838,249
SG Micro Corp A Shares (China)
 
44,677
489,331
Shenzhen Goodix Technology Co Ltd A Shares (China)
 
33,600
390,532
TCL Zhonghuan Renewable Energy Technology Co Ltd A Shares (China) (d)
 
292,175
395,493
Tianshui Huatian Technology Co Ltd A Shares (China)
 
229,800
501,466
TongFu Microelectronics Co Ltd A Shares (China)
 
108,000
808,786
Tongwei Co Ltd A Shares (China) (d)
 
325,300
851,650
Trina Solar Co Ltd A Shares (China) (d)
 
157,435
424,628
Unigroup Guoxin Microelectronics Co Ltd A Shares (China)
 
61,419
743,115
United Nova Technology Co Ltd A Shares (China) (d)
 
605,931
661,562
Verisilicon Microelectronics Shanghai Co Ltd A Shares (China) (d)
 
37,993
1,213,339
Xinjiang Daqo New Energy Co Ltd A Shares (China) (d)
 
155,044
540,845
Xinyi Solar Holdings Ltd (e)
 
5,508,756
2,383,430
Zhejiang Jingsheng Mechanical & Electrical Co Ltd A Shares (China)
 
94,600
605,832
 
 
 
66,273,788
Software - 0.1%
 
 
 
360 Security Technology Inc A Shares (China)
 
505,800
883,290
Beijing Kingsoft Office Software Inc A Shares (China)
 
33,474
1,621,949
China National Software & Service Co Ltd A Shares (China) (d)
 
67,510
438,170
Empyrean Technology Co Ltd A Shares (China)
 
32,900
487,933
Horizon Robotics A Shares (d)(e)
 
6,036,000
6,358,890
Hundsun Technologies Inc A Shares (China)
 
136,952
611,696
Iflytek Co Ltd A Shares (China)
 
167,100
1,432,612
Jiangsu Hoperun Software Co Ltd A Shares (China)
 
57,500
413,565
Kingdee International Software Group Co Ltd (d)
 
3,634,000
6,024,028
Shanghai Baosight Software Co Ltd A Shares (China)
 
153,545
504,914
Shanghai Baosight Software Co Ltd B Shares
 
5,700
6,122
Yonyou Network Technology CO Ltd A Shares (China) (d)
 
246,938
539,219
 
 
 
19,322,388
Technology Hardware, Storage & Peripherals - 0.9%
 
 
 
Anker Innovations Technology Co Ltd A Shares (China)
 
38,710
554,499
China Greatwall Technology Group Co Ltd A Shares (China) (d)
 
229,400
523,692
Huaqin Technology Co Ltd A Shares (China)
 
61,200
761,154
IEIT Systems Co Ltd A Shares (China)
 
106,396
962,680
Lenovo Group Ltd
 
9,712,000
10,942,642
Sharetronic Data Technology Co Ltd A Shares (China)
 
25,000
819,794
Shenzhen Longsys Electronics Co Ltd (China) (d)
 
25,200
1,217,995
Shenzhen Transsion Holdings Co Ltd A Shares (China)
 
82,415
689,148
Xiaomi Corp B Shares (b)(c)(d)
 
20,729,600
93,833,979
 
 
 
110,305,583
TOTAL INFORMATION TECHNOLOGY
 
 
278,668,738
Materials - 1.4%
 
 
 
Chemicals - 0.2%
 
 
 
Ganfeng Lithium Group Co Ltd A Shares (China)
 
116,700
1,151,598
Ganfeng Lithium Group Co Ltd H Shares (b)(c)(e)
 
534,200
4,137,057
Guangzhou Tinci Materials Technology Co Ltd A Shares (China)
 
138,300
809,896
Hengli Petrochemical Co Ltd A Shares (China)
 
508,540
1,909,288
Hoshine Silicon Industry Co Ltd A Shares (China)
 
71,200
509,029
Huafon Chemical Co Ltd A Shares (China)
 
358,400
664,033
Inner Mongolia Junzheng Energy & Chemical Industry Group Co Ltd A Shares (China)
 
609,400
518,079
Jiangsu Eastern Shenghong Co Ltd A Shares (China) (d)
 
477,500
908,052
Kingfa Sci & Tech Co Ltd A Shares (China)
 
190,500
524,223
LB Group Co Ltd A Shares (China)
 
172,273
549,152
Ningxia Baofeng Energy Group Co Ltd A Shares (China)
 
529,900
1,811,116
Qinghai Salt Lake Industry Co Ltd A Shares (China) (d)
 
382,400
1,803,153
Rongsheng Petrochemical Co Ltd A Shares (China)
 
721,600
1,531,068
Satellite Chemical Co Ltd A Shares (China)
 
243,256
852,406
Shandong Hualu Hengsheng Chemical Co Ltd A Shares (China)
 
153,420
827,818
Shanghai Putailai New Energy Technology Group Co Ltd A Shares (China)
 
154,364
615,302
Sinoma Science & Technology Co Ltd A Shares (China)
 
121,300
748,206
Tianhe Chemicals Group Ltd (d)(f)
 
376,000
0
Tianqi Lithium Corp A Shares (China) (d)
 
106,700
837,269
Wanhua Chemical Group Co Ltd A Shares (China)
 
226,200
2,862,418
Yunnan Yuntianhua Co Ltd A Shares (China)
 
131,600
722,955
Zangge Mining Co Ltd A Shares (China)
 
113,500
1,409,005
Zhejiang Juhua Co Ltd A Shares (China)
 
195,100
1,104,072
Zhejiang Longsheng Group Co Ltd A Shares (China)
 
235,000
514,504
Zhejiang NHU Co Ltd A Shares (China)
 
222,128
890,206
 
 
 
28,209,905
Construction Materials - 0.1%
 
 
 
Anhui Conch Cement Co Ltd A Shares (China)
 
291,600
1,028,523
Anhui Conch Cement Co Ltd H Shares
 
1,485,000
4,718,027
China Jushi Co Ltd A Shares (China)
 
289,204
889,026
China National Building Material Co Ltd H Shares
 
4,476,000
3,220,020
 
 
 
9,855,596
Metals & Mining - 1.1%
 
 
 
Aluminum Corp of China Ltd A Shares (China)
 
935,800
1,902,090
Aluminum Corp of China Ltd H Shares
 
4,532,000
8,034,741
Baoshan Iron & Steel Co Ltd A Shares (China)
 
1,574,600
1,653,480
Chifeng Jilong Gold Mining Co A Shares (China)
 
124,200
771,811
China Gold International Resources Corp Ltd
 
286,500
7,525,480
China Hongqiao Group Ltd
 
3,442,000
15,914,421
China Nonferrous Mining Corp Ltd
 
1,645,000
3,305,961
China Northern Rare Earth Group High-Tech Co Ltd A Shares (China)
 
261,300
1,939,147
China Rare Earth Resources And Technology Co Ltd A Shares (China) (d)
 
76,700
598,220
Citic Pacific Special Steel Group Co Ltd A Shares (China)
 
243,300
574,673
CMOC Group Ltd A Shares (China)
 
1,263,500
4,422,046
CMOC Group Ltd H Shares
 
4,500,000
12,856,979
Guangdong HEC Technology Holding Co Ltd A Shares (China) (d)
 
217,500
852,260
Henan Shenhuo Coal Industry & Electricity Power Co Ltd A Shares (China)
 
162,500
768,116
Huaibei Mining Holdings Co Ltd A Shares (China)
 
194,700
351,772
Hunan Valin Steel Co Ltd A Shares (China)
 
499,400
450,424
Inner Mongolia BaoTou Steel Union Co Ltd A Shares (China)
 
3,273,200
1,181,822
Inner Mongolia Xingye Silver&Tin Mining Co Ltd A Shares (China)
 
128,300
1,135,400
Jiangxi Copper Co Ltd A Shares (China)
 
154,000
1,404,924
Jiangxi Copper Co Ltd H Shares
 
1,248,000
7,581,838
Jinduicheng Molybdenum Co Ltd A Shares (China)
 
233,100
688,059
MMG Ltd (d)
 
5,120,000
6,744,000
Shandong Gold Mining Co Ltd A Shares (China)
 
329,484
2,585,442
Shandong Gold Mining Co Ltd H Shares (b)(c)
 
1,058,250
5,995,590
Shandong Nanshan Aluminum Co Ltd A Shares (China)
 
838,900
885,752
Shanjin International Gold Co Ltd A Shares (China)
 
200,580
1,005,244
Tianshan Aluminum Group Co Ltd A Shares (China)
 
336,000
911,080
Tongling Nonferrous Metals Group Co Ltd A Shares (China)
 
968,900
1,152,631
Western Mining Co Ltd A Shares (China)
 
172,200
881,838
Western Superconducting Technologies Co Ltd A Shares (China)
 
46,937
572,082
Xiamen Tungsten Co Ltd A Shares (China)
 
114,700
933,043
Yunnan Aluminium Co Ltd A Shares (China)
 
250,600
1,212,671
Zhaojin Mining Industry Co Ltd H Shares
 
2,082,500
9,649,966
Zhongjin Gold Corp Ltd A Shares (China)
 
350,300
1,859,398
Zijin Mining Group Co Ltd A Shares (China)
 
1,489,400
8,599,923
Zijin Mining Group Co Ltd H Shares
 
7,212,000
38,681,380
 
 
 
155,583,704
Paper & Forest Products - 0.0%
 
 
 
Shandong Sun Paper Industry JSC Ltd A Shares (China)
 
201,700
488,020
TOTAL MATERIALS
 
 
194,137,225
Real Estate - 0.4%
 
 
 
Real Estate Management & Development - 0.4%
 
 
 
C&D International Investment Group Ltd
 
1,079,928
2,221,482
China Merchants Shekou Industrial Zone Holdings Co Ltd A Shares (China)
 
655,000
995,915
China Overseas Land & Investment Ltd
 
4,614,500
8,293,235
China Resources Land Ltd
 
3,865,244
15,179,745
China Resources Mixc Lifestyle Services Ltd (b)(c)
 
824,800
4,890,457
China Vanke Co Ltd A Shares (China) (d)
 
708,000
497,003
China Vanke Co Ltd H Shares (d)(e)
 
2,648,300
1,288,199
Hainan Airport Infrastructure Co Ltd A Shares (China)
 
825,400
531,922
KE Holdings Inc A Shares
 
2,459,554
15,635,685
Longfor Group Holdings Ltd (b)(c)(e)
 
2,544,356
3,354,651
Poly Developments and Holdings Group Co Ltd A Shares (China)
 
865,400
847,754
Shanghai Zhangjiang High-Tech Park Development Co Ltd A Shares (China)
 
111,900
669,138
Youngor Fashion Co Ltd A Shares (China)
 
336,189
355,448
TOTAL REAL ESTATE
 
 
54,760,634
Utilities - 0.5%
 
 
 
Gas Utilities - 0.2%
 
 
 
Beijing Enterprises Holdings Ltd
 
606,000
2,746,048
China Gas Holdings Ltd
 
3,281,400
3,251,115
China Resources Gas Group Ltd
 
1,115,000
3,068,637
ENN Energy Holdings Ltd
 
953,900
8,223,802
ENN Natural Gas Co Ltd A Shares (China)
 
186,600
523,691
Kunlun Energy Co Ltd
 
4,694,000
4,806,902
 
 
 
22,620,195
Independent Power and Renewable Electricity Producers - 0.3%
 
 
 
CGN Power Co Ltd A Shares (China)
 
1,175,800
651,178
CGN Power Co Ltd H Shares (b)(c)
 
12,721,000
5,308,491
China Longyuan Power Group Corp Ltd H Shares
 
2,997,000
2,723,813
China National Nuclear Power Co Ltd A Shares (China)
 
1,486,400
1,840,961
China Power International Development Ltd
 
4,470,563
1,865,572
China Resources Power Holdings Co Ltd
 
2,493,691
5,681,916
China Three Gorges Renewables Group Co Ltd A Shares (China)
 
2,069,600
1,223,585
China Yangtze Power Co Ltd A Shares (China)
 
1,768,800
6,707,027
Datang International Power Generation Co Ltd A Shares (China)
 
895,100
486,709
GD Power Development Co Ltd A Shares (China)
 
1,288,700
858,299
Hanergy Mobile Energy Holding Group Co Ltd (d)(f)
 
1,618,000
2
Huadian Power International Corp Ltd A Shares (China)
 
715,100
504,044
Huaneng Power International Inc A Shares (China)
 
803,100
815,606
Huaneng Power International Inc H Shares
 
4,916,000
3,586,897
SDIC Power Holdings Co Ltd A Shares (China)
 
578,800
1,061,560
Shanghai Electric Power Co Ltd A Shares (China)
 
203,900
623,865
Shenergy Co Ltd A Shares (China)
 
354,000
424,184
Sichuan Chuantou Energy Co Ltd A Shares (China)
 
352,800
706,437
Wintime Energy Group Co Ltd A Shares (China) (d)
 
1,576,400
383,230
Zhejiang Zheneng Electric Power Co Ltd A Shares (China)
 
808,000
575,337
 
 
 
36,028,713
Water Utilities - 0.0%
 
 
 
Guangdong Investment Ltd
 
3,544,000
3,347,976
TOTAL UTILITIES
 
 
61,996,884
TOTAL CHINA
 
 
3,510,933,291
COLOMBIA - 0.1%
 
 
 
Financials - 0.1%
 
 
 
Banks - 0.1%
 
 
 
Grupo Cibest SA
 
302,996
6,843,635
Grupo Cibest SA ADR
 
5,585
456,015
TOTAL FINANCIALS
 
 
7,299,650
Utilities - 0.0%
 
 
 
Electric Utilities - 0.0%
 
 
 
Interconexion Electrica SA ESP
 
533,165
4,369,862
TOTAL COLOMBIA
 
 
11,669,512
CZECH REPUBLIC - 0.1%
 
 
 
Financials - 0.0%
 
 
 
Banks - 0.0%
 
 
 
Komercni Banka AS
 
91,569
5,552,163
Moneta Money Bank AS (b)(c)
 
307,900
3,089,024
TOTAL FINANCIALS
 
 
8,641,187
Utilities - 0.1%
 
 
 
Electric Utilities - 0.1%
 
 
 
CEZ AS
 
162,038
9,319,899
TOTAL CZECH REPUBLIC
 
 
17,961,086
EGYPT - 0.1%
 
 
 
Consumer Staples - 0.0%
 
 
 
Tobacco - 0.0%
 
 
 
Eastern Co SAE
 
1,807,217
1,455,632
Financials - 0.1%
 
 
 
Banks - 0.1%
 
 
 
Commercial International Bank - Egypt (CIB)
 
3,051,691
8,713,544
Real Estate - 0.0%
 
 
 
Real Estate Management & Development - 0.0%
 
 
 
Talaat Moustafa Group
 
868,877
1,601,303
TOTAL EGYPT
 
 
11,770,479
GREECE - 0.6%
 
 
 
Communication Services - 0.0%
 
 
 
Diversified Telecommunication Services - 0.0%
 
 
 
Hellenic Telecommunications Organization SA
 
194,657
3,638,717
Consumer Discretionary - 0.1%
 
 
 
Hotels, Restaurants & Leisure - 0.1%
 
 
 
OPAP SA
 
222,912
4,491,889
Specialty Retail - 0.0%
 
 
 
FF Group (d)(f)
 
1,035
0
JUMBO SA
 
137,591
4,083,861
 
 
 
4,083,861
TOTAL CONSUMER DISCRETIONARY
 
 
8,575,750
Financials - 0.5%
 
 
 
Banks - 0.5%
 
 
 
Alpha Bank SA
 
2,649,294
12,682,078
Eurobank SA
 
3,107,668
15,231,993
National Bank of Greece SA
 
1,046,720
18,505,481
Piraeus Bank SA
 
1,355,493
13,673,303
TOTAL FINANCIALS
 
 
60,092,855
Utilities - 0.0%
 
 
 
Electric Utilities - 0.0%
 
 
 
Public Power Corp SA
 
222,448
5,263,028
TOTAL GREECE
 
 
77,570,350
HONG KONG - 0.0%
 
 
 
Industrials - 0.0%
 
 
 
Marine Transportation - 0.0%
 
 
 
Orient Overseas International Ltd
 
159,000
2,603,154
Materials - 0.0%
 
 
 
Metals & Mining - 0.0%
 
 
 
Zijin Gold International Co Ltd
 
257,900
7,216,618
TOTAL HONG KONG
 
 
9,819,772
HUNGARY - 0.3%
 
 
 
Energy - 0.0%
 
 
 
Oil, Gas & Consumable Fuels - 0.0%
 
 
 
MOL Hungarian Oil & Gas PLC Class A
 
493,452
6,026,634
Financials - 0.3%
 
 
 
Banks - 0.3%
 
 
 
OTP Bank Nyrt
 
269,812
33,992,444
Health Care - 0.0%
 
 
 
Pharmaceuticals - 0.0%
 
 
 
Richter Gedeon Nyrt
 
168,369
5,635,276
TOTAL HUNGARY
 
 
45,654,354
INDIA - 13.2%
 
 
 
Communication Services - 0.6%
 
 
 
Diversified Telecommunication Services - 0.1%
 
 
 
Indus Towers Ltd (d)
 
1,588,706
7,698,018
Tata Communications Ltd
 
137,290
2,351,451
 
 
 
10,049,469
Interactive Media & Services - 0.0%
 
 
 
Info Edge India Ltd
 
429,607
5,853,720
Wireless Telecommunication Services - 0.5%
 
 
 
Bharti Airtel Ltd
 
3,090,758
66,359,579
Vodafone Idea Ltd (d)
 
32,621,580
3,973,903
 
 
 
70,333,482
TOTAL COMMUNICATION SERVICES
 
 
86,236,671
Consumer Discretionary - 1.6%
 
 
 
Automobile Components - 0.2%
 
 
 
Balkrishna Industries Ltd
 
93,094
2,341,005
Bharat Forge Ltd
 
287,861
4,525,082
Bosch Ltd
 
8,879
3,537,307
MRF Ltd
 
2,809
4,048,809
Samvardhana Motherson International Ltd
 
5,084,417
6,260,287
Tube Investments of India Ltd
 
128,147
3,263,420
 
 
 
23,975,910
Automobiles - 0.9%
 
 
 
Bajaj Auto Ltd
 
80,721
8,448,969
Eicher Motors Ltd
 
165,186
12,831,126
Hero MotoCorp Ltd
 
144,585
8,726,126
Hyundai Motor India Ltd
 
195,738
4,688,200
Mahindra & Mahindra Ltd
 
1,123,397
42,044,996
Maruti Suzuki India Ltd
 
151,482
24,118,107
Tata Motors Passenger Vehicles Limited
 
2,439,094
9,311,458
TVS Motor Co Ltd
 
286,112
11,474,560
 
 
 
121,643,542
Broadline Retail - 0.0%
 
 
 
Vishal Mega Mart Ltd (d)
 
2,531,413
3,477,125
Hotels, Restaurants & Leisure - 0.2%
 
 
 
Eternal Ltd (d)
 
2,905,785
8,670,391
Indian Hotels Co Ltd/The
 
1,028,549
7,562,068
Jubilant Foodworks Ltd
 
476,682
2,583,973
Swiggy Ltd (d)
 
1,662,273
5,615,297
 
 
 
24,431,729
Household Durables - 0.0%
 
 
 
Dixon Technologies India Ltd (b)
 
43,724
4,981,143
Specialty Retail - 0.1%
 
 
 
FSN E-Commerce Ventures Ltd (d)
 
1,378,381
3,570,195
Trent Ltd
 
218,356
9,014,621
 
 
 
12,584,816
Textiles, Apparel & Luxury Goods - 0.2%
 
 
 
Kalyan Jewellers India Ltd
 
497,415
1,961,853
Page Industries Ltd
 
7,390
2,659,204
Titan Co Ltd
 
427,747
18,554,332
 
 
 
23,175,389
TOTAL CONSUMER DISCRETIONARY
 
 
214,269,654
Consumer Staples - 0.8%
 
 
 
Beverages - 0.1%
 
 
 
United Spirits Ltd
 
350,329
5,205,993
Varun Beverages Ltd
 
1,629,250
8,373,329
 
 
 
13,579,322
Consumer Staples Distribution & Retail - 0.0%
 
 
 
Avenue Supermarts Ltd (b)(c)(d)
 
195,916
7,883,090
Food Products - 0.3%
 
 
 
Britannia Industries Ltd
 
130,552
8,344,057
Marico Ltd
 
625,240
4,976,336
Nestle India Ltd
 
812,926
11,812,579
Tata Consumer Products Ltd
 
715,074
8,842,699
 
 
 
33,975,671
Personal Care Products - 0.3%
 
 
 
Colgate-Palmolive India Ltd
 
147,421
3,399,104
Dabur India Ltd
 
640,925
3,541,045
Godrej Consumer Products Ltd
 
492,903
6,203,889
Hindustan Unilever Ltd
 
990,556
25,635,149
Kwality Wall's India Ltd (f)
 
941,510
412,772
 
 
 
39,191,959
Tobacco - 0.1%
 
 
 
ITC Ltd
 
3,621,488
12,723,432
TOTAL CONSUMER STAPLES
 
 
107,353,474
Energy - 1.2%
 
 
 
Oil, Gas & Consumable Fuels - 1.2%
 
 
 
Bharat Petroleum Corp Ltd
 
1,828,913
7,270,255
Coal India Ltd
 
2,226,873
10,704,019
Hindustan Petroleum Corp Ltd
 
1,153,260
5,370,493
Indian Oil Corp Ltd
 
3,401,610
6,055,781
Oil & Natural Gas Corp Ltd
 
3,787,908
11,110,822
Oil India Ltd
 
587,625
3,268,678
Petronet LNG Ltd
 
903,277
2,854,325
Reliance Industries Ltd
 
7,335,228
111,627,557
TOTAL ENERGY
 
 
158,261,930
Financials - 3.9%
 
 
 
Banks - 2.7%
 
 
 
AU Small Finance Bank Ltd (b)(c)
 
440,350
4,717,624
Axis Bank Ltd
 
2,765,731
41,334,850
Bank of Baroda
 
1,245,270
4,066,066
Canara Bank
 
2,184,606
3,512,276
HDFC Bank Ltd
 
13,694,590
138,784,412
ICICI Bank Ltd
 
6,368,055
94,182,371
IDFC First Bank Ltd
 
4,331,181
3,947,915
IndusInd Bank Ltd (d)
 
694,312
6,785,318
Kotak Mahindra Bank Ltd
 
6,587,105
29,309,866
Punjab National Bank
 
2,767,257
3,778,141
State Bank of India
 
2,223,615
26,121,305
Union Bank of India Ltd
 
1,838,311
3,623,935
Yes Bank Ltd (d)
 
18,890,253
4,410,761
 
 
 
364,574,840
Capital Markets - 0.0%
 
 
 
BSE Ltd
 
239,687
7,311,324
HDFC Asset Management Co Ltd (b)(c)
 
231,964
6,364,122
 
 
 
13,675,446
Consumer Finance - 0.6%
 
 
 
Bajaj Finance Ltd
 
3,372,861
34,203,490
Cholamandalam Investment and Finance Co Ltd
 
506,723
9,016,612
Muthoot Finance Ltd
 
145,074
6,059,016
SBI Cards & Payment Services Ltd
 
343,822
2,825,562
Shriram Finance Ltd
 
1,699,278
18,902,693
Sundaram Finance Ltd
 
80,293
4,621,747
 
 
 
75,629,120
Financial Services - 0.3%
 
 
 
Bajaj Finserv Ltd
 
461,844
9,834,849
Bajaj Holdings & Investment Ltd
 
32,166
3,788,610
Jio Financial Services Ltd
 
3,443,181
9,556,673
One 97 Communications Ltd (d)
 
461,858
5,729,529
Power Finance Corp Ltd
 
1,788,098
7,397,594
REC Ltd
 
1,426,592
5,664,734
 
 
 
41,971,989
Insurance - 0.3%
 
 
 
HDFC Life Insurance Co Ltd (b)(c)
 
1,168,671
9,316,842
ICICI Lombard General Insurance Co Ltd (b)(c)
 
293,681
5,810,268
ICICI Prudential Life Insurance Co Ltd (b)(c)
 
435,624
3,025,575
PB Fintech Ltd (d)
 
414,913
7,486,570
SBI Life Insurance Co Ltd (b)(c)
 
543,443
11,844,514
 
 
 
37,483,769
TOTAL FINANCIALS
 
 
533,335,164
Health Care - 0.7%
 
 
 
Health Care Providers & Services - 0.2%
 
 
 
Apollo Hospitals Enterprise Ltd
 
129,883
9,859,431
Fortis Healthcare Ltd
 
591,007
5,488,281
Max Healthcare Institute Ltd
 
936,779
9,775,014
 
 
 
25,122,726
Life Sciences Tools & Services - 0.0%
 
 
 
Divi's Laboratories Ltd
 
143,887
9,495,280
Pharmaceuticals - 0.5%
 
 
 
Alkem Laboratories Ltd
 
57,606
3,566,843
Aurobindo Pharma Ltd
 
314,765
4,145,764
Cipla Ltd/India
 
681,088
9,834,455
Dr Reddy's Laboratories Ltd
 
653,419
8,673,499
Lupin Ltd
 
302,582
7,104,047
Mankind Pharma Ltd
 
149,112
3,454,031
Sun Pharmaceutical Industries Ltd
 
1,155,991
20,112,030
Torrent Pharmaceuticals Ltd
 
142,678
6,163,097
Zydus Lifesciences Ltd
 
242,364
2,340,009
 
 
 
65,393,775
TOTAL HEALTH CARE
 
 
100,011,781
Industrials - 1.3%
 
 
 
Aerospace & Defense - 0.2%
 
 
 
Bharat Electronics Ltd
 
4,402,338
21,557,024
Hindustan Aeronautics Ltd (b)
 
241,651
12,173,999
 
 
 
33,731,023
Building Products - 0.0%
 
 
 
Astral Ltd
 
145,460
2,342,424
Commercial Services & Supplies - 0.0%
 
 
 
Indian Railway Catering & Tourism Corp Ltd
 
288,730
1,961,887
Construction & Engineering - 0.4%
 
 
 
Larsen & Toubro Ltd
 
811,848
34,816,127
Rail Vikas Nigam Ltd (b)
 
627,380
2,349,579
Voltas Ltd
 
258,877
3,749,021
 
 
 
40,914,727
Electrical Equipment - 0.3%
 
 
 
ABB India Ltd
 
63,790
3,880,870
Bharat Heavy Electricals Ltd
 
1,257,992
3,604,102
CG Power & Industrial Solutions Ltd
 
853,402
5,435,791
GE Vernova T&D India Ltd
 
154,189
5,431,945
Havells India Ltd
 
264,353
3,704,644
Hitachi Energy India Ltd
 
16,105
3,312,894
Polycab India Ltd
 
63,446
4,852,864
Siemens Energy India Ltd
 
107,220
2,908,342
Suzlon Energy Ltd (d)
 
12,382,627
6,437,497
 
 
 
39,568,949
Industrial Conglomerates - 0.0%
 
 
 
Siemens Ltd (d)
 
107,190
3,625,410
Machinery - 0.2%
 
 
 
Ashok Leyland Ltd
 
3,536,504
7,586,047
Cummins India Ltd
 
166,911
7,486,002
Tata Motors Ltd /new (d)
 
2,438,727
12,194,433
 
 
 
27,266,482
Passenger Airlines - 0.1%
 
 
 
InterGlobe Aviation Ltd (b)(c)
 
228,174
11,438,063
Trading Companies & Distributors - 0.0%
 
 
 
Adani Enterprises Ltd
 
187,046
4,121,401
Adani Enterprises Ltd
 
22,128
378,976
 
 
 
4,500,377
Transportation Infrastructure - 0.1%
 
 
 
Adani Ports & Special Economic Zone Ltd
 
650,430
10,071,330
GMR Airports Ltd (d)
 
3,178,535
3,254,658
 
 
 
13,325,988
TOTAL INDUSTRIALS
 
 
178,675,330
Information Technology - 1.3%
 
 
 
IT Services - 1.3%
 
 
 
HCL Technologies Ltd
 
1,144,040
21,155,520
Infosys Ltd
 
4,003,317
71,645,290
LTIMindtree Ltd (b)(c)
 
89,259
5,815,843
Mphasis Ltd
 
148,568
4,470,294
Persistent Systems Ltd
 
131,871
8,679,319
Tata Consultancy Services Ltd
 
1,089,526
37,118,789
Tech Mahindra Ltd
 
648,940
12,336,329
Wipro Ltd
 
3,156,893
8,156,127
 
 
 
169,377,511
Semiconductors & Semiconductor Equipment - 0.0%
 
 
 
WAAREE Energies Ltd
 
103,940
3,159,779
Software - 0.0%
 
 
 
Oracle Financial Services Software Ltd
 
26,175
2,215,171
TOTAL INFORMATION TECHNOLOGY
 
 
174,752,461
Materials - 1.1%
 
 
 
Chemicals - 0.3%
 
 
 
Asian Paints Ltd
 
462,132
12,238,480
Coromandel International Ltd
 
142,067
3,536,569
PI Industries Ltd
 
91,346
3,183,273
Pidilite Industries Ltd
 
367,672
5,738,384
Solar Industries India Ltd
 
32,691
4,805,927
SRF Ltd
 
178,480
5,481,855
Supreme Industries Ltd
 
76,481
2,930,573
UPL Ltd
 
609,312
4,677,789
 
 
 
42,592,850
Construction Materials - 0.2%
 
 
 
Ambuja Cements Ltd
 
743,905
4,138,800
Grasim Industries Ltd
 
327,820
10,078,354
Shree Cement Ltd
 
10,861
3,196,328
UltraTech Cement Ltd
 
141,966
19,653,591
 
 
 
37,067,073
Metals & Mining - 0.6%
 
 
 
APL Apollo Tubes Ltd
 
217,359
4,849,296
Hindalco Industries Ltd
 
1,624,008
17,048,772
Jindal Stainless Ltd
 
397,176
3,562,906
Jindal Steel Ltd
 
429,989
5,308,390
JSW Steel Ltd
 
736,322
9,751,886
NMDC Ltd
 
3,704,735
3,281,147
Tata Steel Ltd
 
9,021,552
19,001,596
Vedanta Ltd
 
1,648,369
12,252,120
 
 
 
75,056,113
TOTAL MATERIALS
 
 
154,716,036
Real Estate - 0.2%
 
 
 
Real Estate Management & Development - 0.2%
 
 
 
DLF Ltd
 
894,347
6,200,855
Godrej Properties Ltd (d)
 
181,373
3,118,949
Lodha Developers Ltd (b)(c)
 
360,748
3,822,133
Oberoi Realty Ltd
 
153,250
2,491,771
Phoenix Mills Ltd/The
 
236,891
4,316,245
Prestige Estates Projects Ltd
 
207,489
3,307,143
TOTAL REAL ESTATE
 
 
23,257,096
Utilities - 0.5%
 
 
 
Electric Utilities - 0.2%
 
 
 
Power Grid Corp of India Ltd
 
5,600,969
15,667,858
Tata Power Co Ltd/The
 
1,924,098
7,686,404
Torrent Power Ltd
 
212,377
3,213,888
 
 
 
26,568,150
Gas Utilities - 0.0%
 
 
 
GAIL India Ltd
 
2,770,876
5,055,291
Independent Power and Renewable Electricity Producers - 0.3%
 
 
 
Adani Power Ltd (d)
 
3,484,174
5,144,148
JSW Energy Ltd
 
525,949
2,637,374
NHPC Ltd
 
3,627,831
3,093,947
NTPC Ltd
 
5,255,299
20,403,586
 
 
 
31,279,055
TOTAL UTILITIES
 
 
62,902,496
TOTAL INDIA
 
 
1,793,772,093
INDONESIA - 1.0%
 
 
 
Communication Services - 0.1%
 
 
 
Diversified Telecommunication Services - 0.1%
 
 
 
Telkom Indonesia Persero Tbk PT
 
59,662,000
12,753,373
Consumer Discretionary - 0.0%
 
 
 
Broadline Retail - 0.0%
 
 
 
GoTo Gojek Tokopedia Tbk PT Class A (d)
 
1,076,035,408
4,136,833
Consumer Staples - 0.1%
 
 
 
Consumer Staples Distribution & Retail - 0.0%
 
 
 
Sumber Alfaria Trijaya Tbk PT
 
22,503,900
2,341,616
Food Products - 0.1%
 
 
 
Charoen Pokphand Indonesia Tbk PT
 
8,888,500
2,349,105
Indofood Sukses Makmur Tbk PT
 
5,287,400
2,147,167
 
 
 
4,496,272
TOTAL CONSUMER STAPLES
 
 
6,837,888
Energy - 0.1%
 
 
 
Oil, Gas & Consumable Fuels - 0.1%
 
 
 
Dian Swastatika Sentosa Tbk PT (d)
 
1,206,600
7,173,344
Petrindo Jaya Kreasi Tbk PT
 
27,082,400
2,928,471
United Tractors Tbk PT
 
1,797,300
2,799,938
TOTAL ENERGY
 
 
12,901,753
Financials - 0.5%
 
 
 
Banks - 0.5%
 
 
 
Bank Central Asia Tbk PT
 
66,821,400
29,524,998
Bank Mandiri Persero Tbk PT
 
44,969,500
12,939,807
Bank Negara Indonesia Persero Tbk PT
 
17,971,100
4,823,535
Bank Rakyat Indonesia Persero Tbk PT
 
82,152,885
18,649,032
TOTAL FINANCIALS
 
 
65,937,372
Industrials - 0.1%
 
 
 
Industrial Conglomerates - 0.1%
 
 
 
Astra International Tbk PT
 
24,381,000
9,244,577
Materials - 0.1%
 
 
 
Chemicals - 0.0%
 
 
 
Barito Pacific Tbk PT (d)
 
28,230,330
3,632,685
Chandra Asri Pacific Tbk PT
 
10,420,000
4,020,490
 
 
 
7,653,175
Metals & Mining - 0.1%
 
 
 
Amman Mineral Internasional PT (d)
 
17,469,700
7,854,567
Bumi Resources Minerals Tbk PT (d)
 
68,313,200
4,334,570
 
 
 
12,189,137
TOTAL MATERIALS
 
 
19,842,312
Utilities - 0.0%
 
 
 
Independent Power and Renewable Electricity Producers - 0.0%
 
 
 
Barito Renewables Energy Tbk PT (d)
 
9,668,700
4,891,673
TOTAL INDONESIA
 
 
136,545,781
KOREA (SOUTH) - 14.7%
 
 
 
Communication Services - 0.5%
 
 
 
Diversified Telecommunication Services - 0.0%
 
 
 
LG Uplus Corp
 
253,748
2,798,568
Entertainment - 0.1%
 
 
 
HYBE Co Ltd
 
27,595
7,114,025
Krafton Inc (d)
 
34,255
5,997,512
 
 
 
13,111,537
Interactive Media & Services - 0.4%
 
 
 
Kakao Corp
 
372,971
15,785,446
NAVER Corp
 
170,046
32,233,875
 
 
 
48,019,321
Wireless Telecommunication Services - 0.0%
 
 
 
SK Telecom Co Ltd
 
126,804
6,340,503
TOTAL COMMUNICATION SERVICES
 
 
70,269,929
Consumer Discretionary - 0.9%
 
 
 
Automobile Components - 0.2%
 
 
 
Hankook Tire & Technology Co Ltd
 
89,527
3,918,692
Hyundai Mobis Co Ltd
 
71,871
22,244,028
 
 
 
26,162,720
Automobiles - 0.6%
 
 
 
Hyundai Motor Co
 
160,435
55,294,577
Kia Corp
 
284,601
29,936,730
 
 
 
85,231,307
Hotels, Restaurants & Leisure - 0.0%
 
 
 
Hanjin Kal Corp (d)(e)
 
28,145
2,190,325
Household Durables - 0.1%
 
 
 
Coway Co Ltd (d)
 
64,962
3,734,555
LG Electronics Inc
 
127,527
8,711,425
 
 
 
12,445,980
TOTAL CONSUMER DISCRETIONARY
 
 
126,030,332
Consumer Staples - 0.2%
 
 
 
Food Products - 0.0%
 
 
 
Samyang Foods Co Ltd
 
4,991
4,059,598
Personal Care Products - 0.1%
 
 
 
Amorepacific Corp
 
35,237
3,371,334
APR Corp/Korea
 
29,307
5,454,420
LG H&H Co Ltd (e)
 
11,689
2,115,047
 
 
 
10,940,801
Tobacco - 0.1%
 
 
 
KT&G Corp
 
115,524
12,255,308
TOTAL CONSUMER STAPLES
 
 
27,255,707
Energy - 0.1%
 
 
 
Oil, Gas & Consumable Fuels - 0.1%
 
 
 
HD Hyundai Co Ltd
 
52,333
8,441,214
S-Oil Corp (d)
 
54,245
3,959,762
SK Innovation Co Ltd
 
81,454
6,288,453
TOTAL ENERGY
 
 
18,689,429
Financials - 1.3%
 
 
 
Banks - 0.9%
 
 
 
Hana Financial Group Inc
 
335,267
23,133,337
Industrial Bank of Korea
 
336,273
5,134,275
KakaoBank Corp
 
201,152
3,175,216
KB Financial Group Inc
 
436,520
40,538,838
Shinhan Financial Group Co Ltd
 
526,332
30,520,571
Woori Financial Group Inc
 
795,864
16,595,015
 
 
 
119,097,252
Capital Markets - 0.1%
 
 
 
Korea Investment Holdings Co Ltd
 
50,342
7,478,098
Mirae Asset Securities Co Ltd
 
240,426
7,084,855
NH Investment & Securities Co Ltd
 
171,686
3,201,220
 
 
 
17,764,173
Financial Services - 0.1%
 
 
 
Meritz Financial Group Inc
 
94,979
7,633,778
Insurance - 0.2%
 
 
 
DB Insurance Co Ltd
 
55,438
5,449,297
Samsung Fire & Marine Insurance Co Ltd
 
36,025
12,440,995
Samsung Life Insurance Co Ltd
 
96,368
12,508,251
 
 
 
30,398,543
TOTAL FINANCIALS
 
 
174,893,746
Health Care - 0.5%
 
 
 
Biotechnology - 0.3%
 
 
 
Alteogen Inc (d)
 
48,338
13,761,068
Celltrion Inc
 
180,817
26,174,113
 
 
 
39,935,181
Health Care Equipment & Supplies - 0.0%
 
 
 
HLB Inc (d)(e)
 
142,506
5,451,795
Life Sciences Tools & Services - 0.1%
 
 
 
Samsung Biologics Co Ltd (b)(c)(d)
 
13,940
16,767,627
Pharmaceuticals - 0.1%
 
 
 
SK Biopharmaceuticals Co Ltd (d)
 
37,739
3,069,628
Yuhan Corp (d)
 
67,442
5,020,739
 
 
 
8,090,367
TOTAL HEALTH CARE
 
 
70,244,970
Industrials - 2.7%
 
 
 
Aerospace & Defense - 0.4%
 
 
 
Hanwha Aerospace Co Ltd
 
40,372
36,177,373
Hanwha Systems Co Ltd (d)(e)
 
91,023
5,910,381
Korea Aerospace Industries Ltd
 
88,059
10,215,774
LIG Nex1 Co Ltd (d)
 
15,900
5,277,239
 
 
 
57,580,767
Air Freight & Logistics - 0.1%
 
 
 
Hyundai Glovis Co Ltd
 
45,170
7,534,924
Electrical Equipment - 1.0%
 
 
 
Doosan Enerbility Co Ltd (d)
 
540,109
33,730,520
Ecopro BM Co Ltd (d)(e)
 
58,902
9,419,578
Ecopro Co Ltd (e)
 
122,660
13,739,462
HD Hyundai Electric Co Ltd
 
28,223
17,294,912
Hyosung Heavy Industries Corp
 
6,739
12,091,579
LG Energy Solution Ltd (d)(e)
 
56,373
15,465,630
LS Electric Co Ltd (d)
 
18,068
7,049,201
POSCO Future M Co Ltd (d)(e)
 
42,855
6,602,257
 
 
 
115,393,139
Industrial Conglomerates - 0.6%
 
 
 
Doosan Co Ltd
 
8,956
5,253,600
LG Corp
 
111,457
7,045,147
Samsung C&T Corp
 
102,372
21,275,605
SK Inc
 
43,664
10,037,667
SK Square Co Ltd (d)
 
111,756
43,909,563
 
 
 
87,521,582
Machinery - 0.6%
 
 
 
Doosan Bobcat Inc
 
63,483
2,573,050
Hanwha Ocean Co Ltd (d)
 
166,087
15,856,189
HD Hyundai Heavy Industries Co Ltd
 
44,251
17,538,980
HD Hyundai Marine Solution Co Ltd
 
18,896
2,388,815
HD Korea Shipbuilding & Offshore Engineering Co Ltd
 
51,148
14,578,659
Hyundai Rotem Co Ltd
 
92,025
14,621,441
Samsung Heavy Industries Co Ltd (d)
 
847,980
17,214,100
 
 
 
84,771,234
Marine Transportation - 0.0%
 
 
 
HMM Co Ltd
 
284,088
3,916,483
Passenger Airlines - 0.0%
 
 
 
Korean Air Lines Co Ltd (d)
 
221,876
3,563,524
Trading Companies & Distributors - 0.0%
 
 
 
Posco International Corp
 
63,519
2,732,132
TOTAL INDUSTRIALS
 
 
363,013,785
Information Technology - 8.2%
 
 
 
Electronic Equipment, Instruments & Components - 0.3%
 
 
 
LG Display Co Ltd (d)
 
361,303
2,890,479
Samsung Electro-Mechanics Co Ltd
 
67,476
12,976,780
Samsung SDI Co Ltd
 
72,799
19,570,568
 
 
 
35,437,827
IT Services - 0.0%
 
 
 
Samsung SDS Co Ltd
 
51,269
6,117,378
Semiconductors & Semiconductor Equipment - 3.1%
 
 
 
Hanmi Semiconductor Co Ltd (e)
 
51,663
7,514,074
SK Hynix Inc
 
657,686
412,093,618
 
 
 
419,607,692
Technology Hardware, Storage & Peripherals - 4.8%
 
 
 
Samsung Electronics Co Ltd
 
5,704,403
631,100,675
TOTAL INFORMATION TECHNOLOGY
 
 
1,092,263,572
Materials - 0.2%
 
 
 
Chemicals - 0.0%
 
 
 
LG Chem Ltd
 
59,521
12,739,290
Metals & Mining - 0.2%
 
 
 
POSCO Holdings Inc
 
87,739
20,889,740
TOTAL MATERIALS
 
 
33,629,030
Utilities - 0.1%
 
 
 
Electric Utilities - 0.1%
 
 
 
Korea Electric Power Corp
 
309,308
12,377,921
TOTAL KOREA (SOUTH)
 
 
1,988,668,421
KUWAIT - 0.6%
 
 
 
Communication Services - 0.0%
 
 
 
Wireless Telecommunication Services - 0.0%
 
 
 
Mobile Telecommunications Co KSCP
 
2,346,400
3,896,659
Financials - 0.6%
 
 
 
Banks - 0.6%
 
 
 
Boubyan Bank KSCP
 
1,860,415
4,107,331
Gulf Bank KSCP
 
2,405,527
2,702,399
Kuwait Finance House KSCP
 
13,354,763
35,137,247
National Bank of Kuwait SAKP
 
10,005,066
30,982,800
Warba Bank KSCP
 
2,710,301
2,497,607
TOTAL FINANCIALS
 
 
75,427,384
Real Estate - 0.0%
 
 
 
Real Estate Management & Development - 0.0%
 
 
 
Mabanee Co KPSC
 
801,623
2,623,351
TOTAL KUWAIT
 
 
81,947,394
LUXEMBOURG - 0.0%
 
 
 
Financials - 0.0%
 
 
 
Capital Markets - 0.0%
 
 
 
Reinet Investments SCA (South Africa)
 
165,199
5,610,519
MALAYSIA - 1.2%
 
 
 
Communication Services - 0.1%
 
 
 
Diversified Telecommunication Services - 0.0%
 
 
 
Telekom Malaysia Bhd
 
1,386,793
2,779,215
Wireless Telecommunication Services - 0.1%
 
 
 
Axiata Group Berhad
 
3,318,741
1,936,353
CELCOMDIGI BHD
 
4,239,200
3,505,782
Maxis Bhd
 
2,831,100
2,743,481
 
 
 
8,185,616
TOTAL COMMUNICATION SERVICES
 
 
10,964,831
Consumer Discretionary - 0.0%
 
 
 
Specialty Retail - 0.0%
 
 
 
MR DIY Group M Bhd (b)(c)
 
3,992,950
1,853,652
Petronas Dagangan Bhd
 
358,900
1,930,157
TOTAL CONSUMER DISCRETIONARY
 
 
3,783,809
Consumer Staples - 0.1%
 
 
 
Food Products - 0.1%
 
 
 
IOI Corp Bhd
 
3,028,200
3,065,073
Kuala Lumpur Kepong Bhd
 
604,916
2,992,355
Nestle Malaysia Bhd
 
84,700
2,406,494
QL Resources Bhd
 
1,978,025
2,017,164
SD Guthrie Bhd
 
2,498,456
3,701,416
TOTAL CONSUMER STAPLES
 
 
14,182,502
Financials - 0.6%
 
 
 
Banks - 0.6%
 
 
 
AMMB Holdings Bhd
 
2,994,100
4,899,022
CIMB Group Holdings Bhd
 
9,730,120
21,178,191
Hong Leong Bank Bhd
 
783,300
5,126,621
Malayan Banking Bhd
 
7,276,381
21,781,151
Public Bank Bhd
 
17,535,900
21,664,088
RHB Bank Bhd
 
2,101,603
4,504,958
TOTAL FINANCIALS
 
 
79,154,031
Health Care - 0.0%
 
 
 
Health Care Providers & Services - 0.0%
 
 
 
IHH Healthcare Bhd
 
2,660,900
6,048,114
Industrials - 0.1%
 
 
 
Construction & Engineering - 0.1%
 
 
 
Gamuda Bhd
 
5,640,749
6,324,737
Industrial Conglomerates - 0.0%
 
 
 
Sunway Bhd
 
3,020,700
4,413,808
Marine Transportation - 0.0%
 
 
 
MISC Bhd
 
1,613,100
3,273,668
TOTAL INDUSTRIALS
 
 
14,012,213
Materials - 0.1%
 
 
 
Chemicals - 0.0%
 
 
 
Petronas Chemicals Group Bhd
 
2,890,500
2,368,420
Metals & Mining - 0.1%
 
 
 
Press Metal Aluminium Holdings Bhd
 
4,466,400
8,565,699
TOTAL MATERIALS
 
 
10,934,119
Utilities - 0.2%
 
 
 
Electric Utilities - 0.2%
 
 
 
Tenaga Nasional Bhd
 
3,159,600
11,173,218
Gas Utilities - 0.0%
 
 
 
Petronas Gas Bhd
 
953,430
4,445,470
Multi-Utilities - 0.0%
 
 
 
YTL Corp Bhd
 
3,502,600
1,848,150
YTL Corp Bhd warrants 6/2/2028 (d)
 
708,000
125,452
YTL Power International Bhd
 
3,656,700
2,996,231
YTL Power International Bhd warrants 6/2/2028 (d)
 
527,400
131,051
 
 
 
5,100,884
TOTAL UTILITIES
 
 
20,719,572
TOTAL MALAYSIA
 
 
159,799,191
MEXICO - 2.1%
 
 
 
Communication Services - 0.2%
 
 
 
Wireless Telecommunication Services - 0.2%
 
 
 
America Movil SAB de CV Series B
 
21,846,100
22,513,634
Consumer Staples - 0.6%
 
 
 
Beverages - 0.3%
 
 
 
Arca Continental SAB de CV
 
621,800
7,007,169
Coca-Cola Femsa SAB de CV unit
 
632,515
6,615,421
Fomento Economico Mexicano SAB de CV unit
 
2,070,900
21,614,338
 
 
 
35,236,928
Consumer Staples Distribution & Retail - 0.2%
 
 
 
Grupo Comercial Chedraui SA de CV
 
404,500
2,776,829
Wal-Mart de Mexico SAB de CV Series V
 
6,265,700
19,884,168
 
 
 
22,660,997
Food Products - 0.1%
 
 
 
Gruma SAB de CV Series B
 
188,455
3,393,506
Grupo Bimbo SAB de CV (e)
 
1,568,400
5,447,578
Sigma Foods SAB de CV
 
4,351,779
4,300,482
 
 
 
13,141,566
Household Products - 0.0%
 
 
 
Kimberly-Clark de Mexico SAB de CV Series A
 
1,794,300
3,974,442
TOTAL CONSUMER STAPLES
 
 
75,013,933
Financials - 0.3%
 
 
 
Banks - 0.3%
 
 
 
Grupo Financiero Banorte SAB de CV
 
3,049,700
34,477,525
Grupo Financiero Inbursa SAB de CV Series O
 
1,826,600
4,569,636
TOTAL FINANCIALS
 
 
39,047,161
Industrials - 0.2%
 
 
 
Industrial Conglomerates - 0.0%
 
 
 
Grupo Carso SAB de CV Series A1
 
679,500
4,625,779
Transportation Infrastructure - 0.2%
 
 
 
Grupo Aeroportuario del Centro Norte SAB de CV Series B
 
344,400
5,012,482
Grupo Aeroportuario del Pacifico SAB de CV Series B
 
465,595
12,783,349
Grupo Aeroportuario del Sureste SAB de CV Series B
 
216,940
7,505,384
Promotora y Operadora de Infraestructura SAB de CV
 
228,955
3,580,009
 
 
 
28,881,224
TOTAL INDUSTRIALS
 
 
33,507,003
Materials - 0.7%
 
 
 
Construction Materials - 0.1%
 
 
 
Cemex SAB de CV unit
 
18,254,518
22,645,797
Metals & Mining - 0.6%
 
 
 
Grupo Mexico SAB de CV Series B
 
3,750,907
41,649,320
Industrias Penoles SAB de CV (d)
 
239,420
13,875,290
Southern Copper Corp
 
108,525
20,654,478
 
 
 
76,179,088
TOTAL MATERIALS
 
 
98,824,885
Real Estate - 0.1%
 
 
 
Diversified REITs - 0.0%
 
 
 
Fibra Uno Administracion SA de CV (e)
 
3,438,400
5,347,660
Industrial REITs - 0.1%
 
 
 
Prologis Property Mexico SA de CV (e)
 
1,284,700
5,903,033
TOTAL REAL ESTATE
 
 
11,250,693
TOTAL MEXICO
 
 
280,157,309
NETHERLANDS - 0.0%
 
 
 
Information Technology - 0.0%
 
 
 
Software - 0.0%
 
 
 
Nebius Group NV Class A (Russia) (d)(f)
 
261,431
0
PERU - 0.3%
 
 
 
Financials - 0.2%
 
 
 
Banks - 0.2%
 
 
 
Credicorp Ltd
 
81,259
28,995,649
Materials - 0.1%
 
 
 
Metals & Mining - 0.1%
 
 
 
Cia de Minas Buenaventura SAA ADR
 
198,638
6,805,338
TOTAL PERU
 
 
35,800,987
PHILIPPINES - 0.4%
 
 
 
Communication Services - 0.0%
 
 
 
Wireless Telecommunication Services - 0.0%
 
 
 
PLDT Inc
 
91,110
2,077,938
Consumer Discretionary - 0.0%
 
 
 
Hotels, Restaurants & Leisure - 0.0%
 
 
 
Jollibee Foods Corp
 
607,390
2,113,199
Financials - 0.1%
 
 
 
Banks - 0.1%
 
 
 
Bank of the Philippine Islands
 
2,227,599
4,687,891
BDO Unibank Inc
 
2,890,807
6,623,258
Metropolitan Bank & Trust Co
 
2,166,697
2,684,355
TOTAL FINANCIALS
 
 
13,995,504
Industrials - 0.2%
 
 
 
Industrial Conglomerates - 0.0%
 
 
 
Ayala Corp
 
298,635
2,564,543
SM Investments Corp
 
265,570
3,154,975
 
 
 
5,719,518
Transportation Infrastructure - 0.2%
 
 
 
International Container Terminal Services Inc
 
1,215,940
13,248,479
TOTAL INDUSTRIALS
 
 
18,967,997
Real Estate - 0.1%
 
 
 
Real Estate Management & Development - 0.1%
 
 
 
Ayala Land Inc
 
7,862,440
2,835,535
SM Prime Holdings Inc
 
12,168,300
4,460,695
TOTAL REAL ESTATE
 
 
7,296,230
Utilities - 0.0%
 
 
 
Electric Utilities - 0.0%
 
 
 
Manila Electric Co
 
339,460
3,399,065
TOTAL PHILIPPINES
 
 
47,849,933
POLAND - 1.1%
 
 
 
Communication Services - 0.0%
 
 
 
Entertainment - 0.0%
 
 
 
CD Projekt SA
 
78,224
5,719,841
Consumer Discretionary - 0.1%
 
 
 
Broadline Retail - 0.1%
 
 
 
Allegro.eu SA (b)(c)(d)
 
954,803
7,852,334
Specialty Retail - 0.0%
 
 
 
CCC SA (d)(e)
 
64,935
2,152,925
Textiles, Apparel & Luxury Goods - 0.0%
 
 
 
LPP SA
 
1,341
7,416,451
TOTAL CONSUMER DISCRETIONARY
 
 
17,421,710
Consumer Staples - 0.1%
 
 
 
Consumer Staples Distribution & Retail - 0.1%
 
 
 
Dino Polska SA (b)(c)(d)
 
590,303
6,241,960
Zabka Group SA (d)
 
481,601
2,927,830
TOTAL CONSUMER STAPLES
 
 
9,169,790
Energy - 0.2%
 
 
 
Oil, Gas & Consumable Fuels - 0.2%
 
 
 
ORLEN SA
 
699,227
21,246,425
Financials - 0.6%
 
 
 
Banks - 0.5%
 
 
 
Bank Millennium SA (d)
 
730,621
3,536,921
Bank Polska Kasa Opieki SA
 
221,313
13,504,266
mBank SA (d)
 
17,929
5,237,912
Powszechna Kasa Oszczednosci Bank Polski SA
 
1,053,971
27,463,169
Santander Bank Polska SA
 
49,235
7,749,004
 
 
 
57,491,272
Insurance - 0.1%
 
 
 
Powszechny Zaklad Ubezpieczen SA
 
728,152
14,362,199
TOTAL FINANCIALS
 
 
71,853,471
Industrials - 0.0%
 
 
 
Construction & Engineering - 0.0%
 
 
 
Budimex SA
 
15,374
2,980,470
Materials - 0.1%
 
 
 
Metals & Mining - 0.1%
 
 
 
KGHM Polska Miedz SA (d)
 
168,632
15,762,085
Utilities - 0.0%
 
 
 
Electric Utilities - 0.0%
 
 
 
PGE Polska Grupa Energetyczna SA (d)
 
1,080,868
3,054,296
TOTAL POLAND
 
 
147,208,088
QATAR - 0.6%
 
 
 
Communication Services - 0.0%
 
 
 
Diversified Telecommunication Services - 0.0%
 
 
 
Ooredoo QPSC
 
1,157,426
4,513,993
Energy - 0.1%
 
 
 
Oil, Gas & Consumable Fuels - 0.1%
 
 
 
Qatar Fuel QSC
 
719,002
3,060,843
Qatar Gas Transport Co Ltd
 
3,337,009
4,399,243
TOTAL ENERGY
 
 
7,460,086
Financials - 0.5%
 
 
 
Banks - 0.5%
 
 
 
Al Rayan Bank
 
7,282,093
4,546,058
Commercial Bank of Qatar
 
3,899,631
5,087,407
Dukhan Bank
 
2,207,079
2,160,403
Qatar International Islamic Bank QSC
 
1,185,304
3,714,452
Qatar Islamic Bank QPSC
 
2,134,723
14,657,532
Qatar National Bank QPSC
 
5,562,808
30,250,920
TOTAL FINANCIALS
 
 
60,416,772
Industrials - 0.0%
 
 
 
Industrial Conglomerates - 0.0%
 
 
 
Industries Qatar QSC
 
1,821,782
6,364,479
Materials - 0.0%
 
 
 
Chemicals - 0.0%
 
 
 
Mesaieed Petrochemical Holding Co
 
6,809,080
2,045,903
Real Estate - 0.0%
 
 
 
Real Estate Management & Development - 0.0%
 
 
 
Barwa Real Estate Co
 
2,578,006
1,937,930
Utilities - 0.0%
 
 
 
Multi-Utilities - 0.0%
 
 
 
Nebras Energy
 
530,173
2,227,862
TOTAL QATAR
 
 
84,967,025
ROMANIA - 0.0%
 
 
 
Real Estate - 0.0%
 
 
 
Real Estate Management & Development - 0.0%
 
 
 
NEPI Rockcastle NV
 
729,234
6,640,866
RUSSIA - 0.0%
 
 
 
Communication Services - 0.0%
 
 
 
Interactive Media & Services - 0.0%
 
 
 
VK IPJSC GDR (b)(d)(f)
 
100,000
1
Consumer Discretionary - 0.0%
 
 
 
Broadline Retail - 0.0%
 
 
 
Ozon Holdings PLC ADR (d)(f)
 
40,002
0
Energy - 0.0%
 
 
 
Oil, Gas & Consumable Fuels - 0.0%
 
 
 
Gazprom PJSC (d)(f)
 
8,473,436
1
Gazprom PJSC ADR (d)(f)
 
863,533
9
LUKOIL PJSC (d)(f)
 
334,533
0
LUKOIL PJSC ADR (d)(f)
 
15,032
0
Rosneft Oil Co PJSC (d)(f)
 
857,494
0
Rosneft Oil Co PJSC GDR (b)(d)(f)
 
150,200
2
Surgutneftegas PAO (d)(f)
 
5,613,549
1
Surgutneftegas PAO ADR (d)(f)
 
73,333
0
Tatneft PJSC (d)(f)
 
1,103,564
0
TOTAL ENERGY
 
 
13
Financials - 0.0%
 
 
 
Banks - 0.0%
 
 
 
Sberbank of Russia PJSC (d)(f)
 
9,313,306
1
VTB Bank PJSC (d)(f)(g)
 
476,163
0
VTB Bank PJSC GDR (b)(d)(f)(g)
 
221,738
3
 
 
 
4
Capital Markets - 0.0%
 
 
 
Moscow Exchange MICEX-RTS PJSC (d)(f)
 
1,311,841
0
TOTAL FINANCIALS
 
 
4
Materials - 0.0%
 
 
 
Chemicals - 0.0%
 
 
 
Phosagro Pjsc GDR (b)(d)(f)
 
749
0
Metals & Mining - 0.0%
 
 
 
Alrosa PJSC (d)(f)
 
2,234,923
0
GMK Norilskiy Nickel PAO (d)(f)
 
4,844,200
1
GMK Norilskiy Nickel PAO ADR (United Kingdom) (d)(f)
 
59,247
0
Novolipetsk Steel PJSC (d)(f)
 
1,258,902
0
Novolipetsk Steel PJSC GDR (b)(d)(f)
 
3,783
0
Polyus PJSC (d)(f)
 
267,420
0
Polyus PJSC GDR (b)(d)(f)
 
5,226
0
Severstal PAO (d)(f)
 
155,372
0
Severstal PAO GDR (b)(d)(f)
 
26,165
0
United Co RUSAL International PJSC (Russia) (d)(f)
 
2,596,470
0
 
 
 
1
TOTAL MATERIALS
 
 
1
Utilities - 0.0%
 
 
 
Electric Utilities - 0.0%
 
 
 
Inter RAO UES PJSC (d)(f)
 
31,187,844
4
TOTAL RUSSIA
 
 
23
SAUDI ARABIA - 2.9%
 
 
 
Communication Services - 0.3%
 
 
 
Diversified Telecommunication Services - 0.2%
 
 
 
Saudi Telecom Co
 
2,409,190
28,519,486
Media - 0.0%
 
 
 
Saudi Research & Media Group (d)
 
43,358
1,384,885
Wireless Telecommunication Services - 0.1%
 
 
 
Etihad Etisalat Co
 
454,498
8,530,850
TOTAL COMMUNICATION SERVICES
 
 
38,435,221
Consumer Discretionary - 0.0%
 
 
 
Hotels, Restaurants & Leisure - 0.0%
 
 
 
Jabal Omar Development Company (d)
 
696,347
3,065,212
Specialty Retail - 0.0%
 
 
 
Jarir Marketing Co
 
708,389
2,695,153
TOTAL CONSUMER DISCRETIONARY
 
 
5,760,365
Consumer Staples - 0.1%
 
 
 
Food Products - 0.1%
 
 
 
Almarai Co JSC
 
590,168
6,939,080
Energy - 0.4%
 
 
 
Energy Equipment & Services - 0.0%
 
 
 
Ades Holding Co
 
407,927
2,091,459
Oil, Gas & Consumable Fuels - 0.4%
 
 
 
Saudi Arabian Oil Co (b)(c)
 
7,287,670
50,129,812
TOTAL ENERGY
 
 
52,221,271
Financials - 1.3%
 
 
 
Banks - 1.3%
 
 
 
Al Rajhi Bank
 
2,360,914
67,478,066
Alinma Bank
 
1,475,594
11,204,553
Arab National Bank
 
1,084,077
6,589,958
Bank Al-Jazira
 
756,124
2,525,990
Bank AlBilad
 
885,340
6,274,119
Banque Saudi Fransi
 
1,475,507
7,100,782
Riyad Bank
 
1,770,653
13,265,617
Saudi Awwal Bank
 
1,212,749
11,536,749
Saudi Investment Bank/The
 
737,772
2,753,835
Saudi National Bank/The
 
3,541,329
42,355,832
 
 
 
171,085,501
Capital Markets - 0.0%
 
 
 
Saudi Tadawul Group Holding Co
 
57,808
2,476,803
Insurance - 0.0%
 
 
 
Bupa Arabia for Cooperative Insurance Co
 
99,380
4,371,904
Co for Cooperative Insurance/The
 
88,537
3,233,948
 
 
 
7,605,852
TOTAL FINANCIALS
 
 
181,168,156
Health Care - 0.1%
 
 
 
Health Care Providers & Services - 0.1%
 
 
 
Dallah Healthcare Co
 
42,805
1,415,154
Dr Sulaiman Al Habib Medical Services Group Co
 
105,390
7,350,634
Mouwasat Medical Services Co
 
118,042
2,190,451
TOTAL HEALTH CARE
 
 
10,956,239
Industrials - 0.0%
 
 
 
Air Freight & Logistics - 0.0%
 
 
 
SAL Saudi Logistics Services
 
43,353
2,084,023
Information Technology - 0.1%
 
 
 
IT Services - 0.1%
 
 
 
Arabian Internet & Communications Services Co
 
28,917
1,807,168
Elm Co
 
28,910
5,981,326
TOTAL INFORMATION TECHNOLOGY
 
 
7,788,494
Materials - 0.5%
 
 
 
Chemicals - 0.2%
 
 
 
SABIC Agri-Nutrients Co
 
280,966
9,363,785
Sahara International Petrochemical Co
 
432,708
1,767,427
Saudi Basic Industries Corp
 
1,084,052
16,431,161
Yanbu National Petrochemical Co
 
331,979
2,389,803
 
 
 
29,952,176
Metals & Mining - 0.3%
 
 
 
Saudi Arabian Mining Co (d)
 
1,639,447
33,788,160
TOTAL MATERIALS
 
 
63,740,336
Real Estate - 0.0%
 
 
 
Real Estate Management & Development - 0.0%
 
 
 
Dar Al Arkan Real Estate Development Co (d)
 
637,382
3,164,223
Makkah Construction & Development Co
 
118,056
2,845,406
TOTAL REAL ESTATE
 
 
6,009,629
Utilities - 0.1%
 
 
 
Electric Utilities - 0.0%
 
 
 
Saudi Electricity Co
 
1,003,654
3,853,312
Independent Power and Renewable Electricity Producers - 0.1%
 
 
 
ACWA Power Co (d)
 
184,638
9,220,332
TOTAL UTILITIES
 
 
13,073,644
TOTAL SAUDI ARABIA
 
 
388,176,458
SOUTH AFRICA - 3.1%
 
 
 
Communication Services - 0.2%
 
 
 
Wireless Telecommunication Services - 0.2%
 
 
 
MTN Group Ltd
 
2,098,322
23,300,975
Vodacom Group Ltd
 
751,020
6,927,684
TOTAL COMMUNICATION SERVICES
 
 
30,228,659
Consumer Discretionary - 0.5%
 
 
 
Broadline Retail - 0.4%
 
 
 
Naspers Ltd Class N
 
943,864
57,788,321
Specialty Retail - 0.1%
 
 
 
Pepkor Holdings Ltd (b)(c)
 
4,226,603
6,906,167
TOTAL CONSUMER DISCRETIONARY
 
 
64,694,488
Consumer Staples - 0.2%
 
 
 
Consumer Staples Distribution & Retail - 0.2%
 
 
 
Bid Corp Ltd
 
405,770
10,033,842
Clicks Group Ltd
 
282,858
5,635,264
Shoprite Holdings Ltd
 
569,734
9,400,041
TOTAL CONSUMER STAPLES
 
 
25,069,147
Financials - 1.1%
 
 
 
Banks - 0.6%
 
 
 
Absa Group Ltd
 
1,023,529
16,128,325
Capitec Bank Holdings Ltd
 
104,891
28,162,580
Nedbank Group Ltd
 
555,904
9,021,653
Standard Bank Group Ltd
 
1,586,412
29,155,050
 
 
 
82,467,608
Financial Services - 0.3%
 
 
 
FirstRand Ltd
 
6,081,282
34,686,757
Remgro Ltd
 
605,724
6,854,837
 
 
 
41,541,594
Insurance - 0.2%
 
 
 
Discovery Ltd
 
695,984
10,012,410
OUTsurance Group Ltd
 
1,025,302
4,478,107
Sanlam Ltd
 
2,167,923
13,581,255
 
 
 
28,071,772
TOTAL FINANCIALS
 
 
152,080,974
Industrials - 0.0%
 
 
 
Industrial Conglomerates - 0.0%
 
 
 
Bidvest Group Ltd
 
389,356
5,633,855
Materials - 1.1%
 
 
 
Chemicals - 0.0%
 
 
 
Sasol Ltd (d)
 
697,512
4,926,726
Metals & Mining - 1.1%
 
 
 
Gold Fields Ltd
 
1,078,097
53,316,933
Harmony Gold Mining Co Ltd
 
690,343
14,668,802
Impala Platinum Holdings Ltd
 
1,089,344
20,304,554
Northam Platinum Holdings Ltd
 
433,743
10,334,127
Sibanye Stillwater Ltd (d)
 
3,409,510
14,839,586
Valterra Platinum Ltd
 
319,556
28,711,517
 
 
 
142,175,519
TOTAL MATERIALS
 
 
147,102,245
TOTAL SOUTH AFRICA
 
 
424,809,368
TAIWAN - 20.4%
 
 
 
Communication Services - 0.3%
 
 
 
Diversified Telecommunication Services - 0.2%
 
 
 
Chunghwa Telecom Co Ltd
 
4,579,000
19,358,558
Entertainment - 0.0%
 
 
 
International Games System Co Ltd
 
272,000
6,169,872
Wireless Telecommunication Services - 0.1%
 
 
 
Far EasTone Telecommunications Co Ltd
 
2,128,000
5,986,580
Taiwan Mobile Co Ltd
 
2,107,900
7,045,254
 
 
 
13,031,834
TOTAL COMMUNICATION SERVICES
 
 
38,560,264
Consumer Discretionary - 0.1%
 
 
 
Automobile Components - 0.0%
 
 
 
Cheng Shin Rubber Industry Co Ltd
 
2,145,937
2,080,331
Household Durables - 0.0%
 
 
 
Nien Made Enterprise Co Ltd
 
212,000
2,867,860
Specialty Retail - 0.1%
 
 
 
Hotai Motor Co Ltd
 
368,760
6,355,313
Textiles, Apparel & Luxury Goods - 0.0%
 
 
 
Eclat Textile Co Ltd
 
231,613
2,913,048
Feng TAY Enterprise Co Ltd
 
594,408
1,811,565
 
 
 
4,724,613
TOTAL CONSUMER DISCRETIONARY
 
 
16,028,117
Consumer Staples - 0.1%
 
 
 
Consumer Staples Distribution & Retail - 0.0%
 
 
 
President Chain Store Corp
 
688,000
4,653,508
Food Products - 0.1%
 
 
 
Uni-President Enterprises Corp
 
5,816,983
13,213,296
TOTAL CONSUMER STAPLES
 
 
17,866,804
Financials - 1.8%
 
 
 
Banks - 1.1%
 
 
 
Chang Hwa Commercial Bank Ltd
 
8,502,810
5,495,242
CTBC Financial Holding Co Ltd
 
20,117,826
32,440,912
E.Sun Financial Holding Co Ltd
 
17,533,379
18,552,665
First Financial Holding Co Ltd
 
13,855,686
12,641,969
Hua Nan Financial Holdings Co Ltd
 
10,895,769
11,425,628
Mega Financial Holding Co Ltd
 
14,292,952
17,569,033
Shanghai Commercial & Savings Bank Ltd/The
 
4,684,609
5,862,254
SinoPac Financial Holdings Co Ltd
 
14,837,093
13,443,398
Taiwan Business Bank
 
8,778,454
4,282,851
Taiwan Cooperative Financial Holding Co Ltd
 
13,221,506
9,864,295
TS Financial Holding Co Ltd
 
25,459,076
18,308,919
 
 
 
149,887,166
Financial Services - 0.2%
 
 
 
Chailease Holding Co Ltd
 
1,855,398
6,113,144
Yuanta Financial Holding Co Ltd
 
12,844,223
17,517,624
 
 
 
23,630,768
Insurance - 0.5%
 
 
 
Cathay Financial Holding Co Ltd
 
11,485,410
27,435,448
Fubon Financial Holding Co Ltd
 
10,123,153
29,152,372
KGI Financial Holding Co Ltd
 
19,230,457
10,996,665
 
 
 
67,584,485
TOTAL FINANCIALS
 
 
241,102,419
Health Care - 0.1%
 
 
 
Biotechnology - 0.1%
 
 
 
PharmaEssentia Corp
 
365,236
8,909,606
Pharmaceuticals - 0.0%
 
 
 
Caliway Biopharmaceuticals Co Ltd (d)
 
1,214,000
6,365,183
TOTAL HEALTH CARE
 
 
15,274,789
Industrials - 0.3%
 
 
 
Electrical Equipment - 0.2%
 
 
 
Bizlink Holding Inc
 
211,000
8,690,005
Fortune Electric Co Ltd
 
190,660
5,859,027
Teco Electric and Machinery Co Ltd
 
1,431,000
3,708,405
 
 
 
18,257,437
Industrial Conglomerates - 0.0%
 
 
 
Far Eastern New Century Corp
 
3,865,705
3,404,613
Marine Transportation - 0.1%
 
 
 
Evergreen Marine Corp Taiwan Ltd
 
1,303,363
7,680,200
Wan Hai Lines Ltd
 
844,950
1,967,490
Yang Ming Marine Transport Corp
 
2,102,000
3,556,053
 
 
 
13,203,743
Passenger Airlines - 0.0%
 
 
 
China Airlines Ltd
 
3,518,000
2,474,247
Eva Airways Corp
 
3,252,000
3,853,154
 
 
 
6,327,401
Transportation Infrastructure - 0.0%
 
 
 
Taiwan High Speed Rail Corp
 
2,372,000
2,055,257
TOTAL INDUSTRIALS
 
 
43,248,451
Information Technology - 17.4%
 
 
 
Communications Equipment - 0.2%
 
 
 
Accton Technology Corp
 
608,000
21,476,952
Electronic Equipment, Instruments & Components - 2.3%
 
 
 
Chroma ATE Inc
 
461,000
14,312,688
Delta Electronics Inc
 
2,346,381
90,688,573
E Ink Holdings Inc
 
1,039,000
5,760,336
Elite Material Co Ltd
 
361,000
19,957,073
Gold Circuit Electronics Ltd
 
385,000
8,550,135
Hon Hai Precision Industry Co Ltd
 
15,137,869
105,746,875
Innolux Corp
 
9,141,157
6,313,234
Largan Precision Co Ltd
 
121,000
9,238,397
Lotes Co Ltd
 
102,000
4,620,941
Unimicron Technology Corp
 
1,609,471
19,299,375
Yageo Corp
 
1,997,340
17,559,381
Zhen Ding Technology Holding Ltd
 
877,000
5,431,760
 
 
 
307,478,768
Semiconductors & Semiconductor Equipment - 13.9%
 
 
 
Alchip Technologies Ltd
 
93,000
9,207,192
ASE Technology Holding Co Ltd
 
3,994,927
37,029,492
ASPEED Technology Inc
 
36,000
10,127,673
eMemory Technology Inc
 
76,000
4,406,146
Global Unichip Corp
 
105,000
8,715,349
Globalwafers Co Ltd
 
317,000
4,991,256
Jentech Precision Industrial Co Ltd
 
103,000
9,267,226
King Yuan Electronics Co Ltd
 
1,326,000
12,434,532
MediaTek Inc
 
1,835,292
102,332,138
Novatek Microelectronics Corp
 
696,000
8,268,652
Realtek Semiconductor Corp
 
586,401
8,982,255
Taiwan Semiconductor Manufacturing Co Ltd
 
29,675,000
1,635,968,358
United Microelectronics Corp
 
13,612,000
27,003,021
Vanguard International Semiconductor Corp
 
1,350,002
6,137,345
 
 
 
1,884,870,635
Technology Hardware, Storage & Peripherals - 1.0%
 
 
 
Advantech Co Ltd
 
573,100
5,437,778
Asia Vital Components Co Ltd
 
397,000
18,362,744
Asustek Computer Inc
 
850,000
13,356,566
Catcher Technology Co Ltd
 
638,000
4,052,557
Compal Electronics Inc
 
5,043,000
5,232,322
Gigabyte Technology Co Ltd
 
645,000
4,761,128
Inventec Corp
 
3,240,865
4,620,273
King Slide Works Co Ltd
 
69,000
6,863,932
Lite-On Technology Corp
 
2,372,279
12,325,479
Pegatron Corp
 
2,423,000
5,350,328
Quanta Computer Inc
 
3,257,000
28,891,494
Wistron Corp
 
3,639,000
15,044,812
Wiwynn Corp
 
134,756
15,262,243
 
 
 
139,561,656
TOTAL INFORMATION TECHNOLOGY
 
 
2,353,388,011
Materials - 0.3%
 
 
 
Chemicals - 0.2%
 
 
 
Formosa Chemicals & Fibre Corp
 
4,235,760
5,683,017
Formosa Plastics Corp
 
4,599,520
6,892,359
Nan Ya Plastics Corp
 
6,209,860
14,931,993
 
 
 
27,507,369
Construction Materials - 0.1%
 
 
 
Asia Cement Corp
 
2,776,153
3,091,455
TCC Group Holdings Co Ltd
 
8,184,730
6,845,458
 
 
 
9,936,913
Metals & Mining - 0.0%
 
 
 
China Steel Corp
 
14,213,204
9,343,386
TOTAL MATERIALS
 
 
46,787,668
TOTAL TAIWAN
 
 
2,772,256,523
THAILAND - 1.0%
 
 
 
Communication Services - 0.1%
 
 
 
Diversified Telecommunication Services - 0.0%
 
 
 
True Corp PCL
 
11,039,079
4,058,742
True Corp PCL depository receipt
 
1,890,500
695,081
 
 
 
4,753,823
Wireless Telecommunication Services - 0.1%
 
 
 
Advanced Info Service PCL
 
1,094,100
12,102,723
Advanced Info Service PCL depository receipt
 
159,600
1,765,464
 
 
 
13,868,187
TOTAL COMMUNICATION SERVICES
 
 
18,622,010
Consumer Discretionary - 0.0%
 
 
 
Hotels, Restaurants & Leisure - 0.0%
 
 
 
Minor International PCL
 
3,294,732
2,391,422
Minor International PCL depository receipt
 
458,600
332,867
TOTAL CONSUMER DISCRETIONARY
 
 
2,724,289
Consumer Staples - 0.1%
 
 
 
Consumer Staples Distribution & Retail - 0.1%
 
 
 
CP ALL PCL
 
5,666,300
7,812,490
CP ALL PCL depository receipt
 
820,900
1,131,827
CP AXTRA PCL
 
1,655,289
776,491
CP AXTRA PCL depository receipt
 
12,615
5,917
 
 
 
9,726,725
Food Products - 0.0%
 
 
 
Charoen Pokphand Foods PCL
 
4,001,020
2,625,075
Charoen Pokphand Foods PCL depository receipt
 
551,500
361,840
 
 
 
2,986,915
TOTAL CONSUMER STAPLES
 
 
12,713,640
Energy - 0.1%
 
 
 
Oil, Gas & Consumable Fuels - 0.1%
 
 
 
PTT Exploration & Production PCL
 
1,456,739
5,656,118
PTT Exploration & Production PCL depository receipt
 
216,200
839,445
PTT PCL
 
10,501,000
11,316,450
PTT PCL depository receipt
 
1,538,300
1,657,756
TOTAL ENERGY
 
 
19,469,769
Financials - 0.1%
 
 
 
Banks - 0.1%
 
 
 
Kasikornbank PCL
 
618,100
3,683,132
Kasikornbank PCL depository receipt
 
95,000
566,085
Krung Thai Bank PCL
 
3,692,170
3,305,984
Krung Thai Bank PCL depository receipt
 
513,600
459,880
SCB X PCL
 
879,300
3,776,391
SCB X PCL depository receipt
 
133,900
575,070
TMBThanachart Bank PCL
 
25,637,500
1,641,450
TMBThanachart Bank PCL depository receipt
 
3,703,200
237,099
TOTAL FINANCIALS
 
 
14,245,091
Health Care - 0.1%
 
 
 
Health Care Providers & Services - 0.1%
 
 
 
Bangkok Dusit Medical Services PCL
 
11,690,700
7,447,958
Bangkok Dusit Medical Services PCL depository receipt
 
1,705,600
1,086,610
Bumrungrad Hospital Pcl
 
601,400
3,192,853
Bumrungrad Hospital Pcl depository receipt
 
116,500
618,502
TOTAL HEALTH CARE
 
 
12,345,923
Industrials - 0.1%
 
 
 
Transportation Infrastructure - 0.1%
 
 
 
Airports of Thailand PCL
 
4,494,300
7,158,116
Airports of Thailand PCL depository receipt
 
667,400
1,062,975
TOTAL INDUSTRIALS
 
 
8,221,091
Information Technology - 0.3%
 
 
 
Electronic Equipment, Instruments & Components - 0.3%
 
 
 
Delta Electronics Thailand PCL
 
3,275,600
21,283,613
Delta Electronics Thailand PCL depository receipt
 
480,400
3,121,458
TOTAL INFORMATION TECHNOLOGY
 
 
24,405,071
Materials - 0.0%
 
 
 
Construction Materials - 0.0%
 
 
 
Siam Cement PCL/The
 
588,350
3,841,525
Siam Cement PCL/The depository receipt
 
362,100
2,364,266
TOTAL MATERIALS
 
 
6,205,791
Real Estate - 0.0%
 
 
 
Real Estate Management & Development - 0.0%
 
 
 
Central Pattana PCL
 
2,134,200
3,906,499
Central Pattana PCL depository receipt
 
296,900
543,454
TOTAL REAL ESTATE
 
 
4,449,953
Utilities - 0.1%
 
 
 
Independent Power and Renewable Electricity Producers - 0.1%
 
 
 
Gulf Development PCL
 
4,520,560
6,698,453
Gulf Development PCL depository receipt
 
1,123,500
1,664,774
TOTAL UTILITIES
 
 
8,363,227
TOTAL THAILAND
 
 
131,765,855
TURKEY - 0.5%
 
 
 
Communication Services - 0.0%
 
 
 
Wireless Telecommunication Services - 0.0%
 
 
 
Turkcell Iletisim Hizmetleri AS
 
1,457,617
3,918,307
Consumer Discretionary - 0.0%
 
 
 
Automobiles - 0.0%
 
 
 
Ford Otomotiv Sanayi AS
 
845,424
2,210,424
Consumer Staples - 0.1%
 
 
 
Consumer Staples Distribution & Retail - 0.1%
 
 
 
BIM Birlesik Magazalar AS
 
541,986
8,275,547
Energy - 0.0%
 
 
 
Oil, Gas & Consumable Fuels - 0.0%
 
 
 
Turkiye Petrol Rafinerileri AS
 
1,160,559
6,533,098
Financials - 0.1%
 
 
 
Banks - 0.1%
 
 
 
Akbank TAS
 
3,758,049
8,032,531
Haci Omer Sabanci Holding AS
 
1,391,308
3,503,305
Turkiye Is Bankasi AS Class C
 
10,540,714
4,038,179
Yapi ve Kredi Bankasi AS (d)
 
4,069,638
3,844,384
TOTAL FINANCIALS
 
 
19,418,399
Industrials - 0.3%
 
 
 
Aerospace & Defense - 0.2%
 
 
 
Aselsan Elektronik Sanayi Ve Ticaret AS
 
1,647,824
11,490,851
Industrial Conglomerates - 0.0%
 
 
 
KOC Holding AS
 
916,300
4,376,377
Passenger Airlines - 0.1%
 
 
 
Turk Hava Yollari AO
 
665,036
4,648,997
TOTAL INDUSTRIALS
 
 
20,516,225
Materials - 0.0%
 
 
 
Metals & Mining - 0.0%
 
 
 
Eregli Demir ve Celik Fabrikalari TAS
 
4,216,062
2,732,049
TOTAL TURKEY
 
 
63,604,049
UNITED ARAB EMIRATES - 1.4%
 
 
 
Communication Services - 0.2%
 
 
 
Diversified Telecommunication Services - 0.2%
 
 
 
Emirates Telecommunications Group Co PJSC
 
4,190,029
22,476,126
Consumer Discretionary - 0.0%
 
 
 
Hotels, Restaurants & Leisure - 0.0%
 
 
 
Americana Restaurants International PLC - Foreign Co
 
3,550,715
1,508,268
Specialty Retail - 0.0%
 
 
 
Abu Dhabi National Oil Co for Distribution PJSC
 
3,764,164
4,202,334
TOTAL CONSUMER DISCRETIONARY
 
 
5,710,602
Energy - 0.1%
 
 
 
Energy Equipment & Services - 0.0%
 
 
 
ADNOC Drilling Co PJSC
 
3,854,376
5,593,962
Oil, Gas & Consumable Fuels - 0.1%
 
 
 
Adnoc Gas PLC
 
7,397,258
7,271,369
ADNOC Logistics & Services
 
2,228,322
3,403,917
 
 
 
10,675,286
TOTAL ENERGY
 
 
16,269,248
Financials - 0.7%
 
 
 
Banks - 0.7%
 
 
 
Abu Dhabi Commercial Bank PJSC
 
3,812,140
15,798,712
Abu Dhabi Islamic Bank PJSC
 
1,749,926
11,597,876
Dubai Islamic Bank PJSC
 
3,488,749
9,176,669
Emirates NBD Bank PJSC
 
2,282,497
19,328,974
First Abu Dhabi Bank PJSC
 
5,322,810
26,958,275
TOTAL FINANCIALS
 
 
82,860,506
Industrials - 0.0%
 
 
 
Industrial Conglomerates - 0.0%
 
 
 
Two Point Zero Group PJSC (d)
 
4,046,498
2,490,152
Transportation Infrastructure - 0.0%
 
 
 
Salik Co PJSC
 
2,258,451
3,923,463
TOTAL INDUSTRIALS
 
 
6,413,615
Real Estate - 0.4%
 
 
 
Real Estate Management & Development - 0.4%
 
 
 
Aldar Properties PJSC
 
4,640,507
12,117,757
Emaar Development PJSC
 
1,204,490
5,641,178
Emaar Properties PJSC
 
7,984,887
32,613,562
TOTAL REAL ESTATE
 
 
50,372,497
Utilities - 0.0%
 
 
 
Multi-Utilities - 0.0%
 
 
 
Dubai Electricity & Water Authority PJSC
 
7,227,715
5,943,553
TOTAL UNITED ARAB EMIRATES
 
 
190,046,147
UNITED STATES - 0.3%
 
 
 
Consumer Staples - 0.1%
 
 
 
Food Products - 0.1%
 
 
 
JBS NV Class A
 
490,346
7,722,949
Health Care - 0.2%
 
 
 
Biotechnology - 0.2%
 
 
 
BeOne Medicines Ltd H Shares (d)
 
1,030,330
27,248,266
Legend Biotech Corp ADR (d)
 
88,764
1,553,370
TOTAL HEALTH CARE
 
 
28,801,636
TOTAL UNITED STATES
 
 
36,524,585
 
TOTAL COMMON STOCKS
 (Cost $8,875,913,664)
 
 
 
13,204,977,733
 
 
 
 
Non-Convertible Preferred Stocks - 0.8%
 
 
Shares
Value ($)
 
COLOMBIA - 0.1%
 
 
 
Financials - 0.1%
 
 
 
Banks - 0.1%
 
 
 
Grupo Cibest SA non-voting shares
 
525,725
10,736,656
INDIA - 0.0%
 
 
 
Consumer Discretionary - 0.0%
 
 
 
Automobiles - 0.0%
 
 
 
TVS Motor Co Ltd 6% (f)
 
1,081,752
0
KOREA (SOUTH) - 0.7%
 
 
 
Consumer Discretionary - 0.1%
 
 
 
Automobiles - 0.1%
 
 
 
Hyundai Motor Co
 
26,692
4,875,738
Hyundai Motor Co Series 2
 
41,916
7,830,014
TOTAL CONSUMER DISCRETIONARY
 
 
12,705,752
Consumer Staples - 0.0%
 
 
 
Personal Care Products - 0.0%
 
 
 
LG H&H Co Ltd
 
674
51,338
Information Technology - 0.6%
 
 
 
Technology Hardware, Storage & Peripherals - 0.6%
 
 
 
Samsung Electronics Co Ltd
 
982,870
79,538,535
TOTAL KOREA (SOUTH)
 
 
92,295,625
RUSSIA - 0.0%
 
 
 
Energy - 0.0%
 
 
 
Oil, Gas & Consumable Fuels - 0.0%
 
 
 
Surgutneftegas PAO (d)(f)
 
5,794,540
1
 
TOTAL NON-CONVERTIBLE PREFERRED STOCKS
 (Cost $53,765,338)
 
 
 
103,032,282
 
 
 
 
U.S. Treasury Obligations - 0.0%
 
 
Yield (%) (i)
Principal
Amount (a)
 
Value ($)
 
US Treasury Bills 0% 2/12/2026 (j)
 (Cost $5,800,289)
 
3.82
5,807,000
5,801,203
 
 
 
 
 
Money Market Funds - 3.0%
 
 
Yield (%)
Shares
Value ($)
 
Fidelity Cash Central Fund (k)
 
3.70
340,716,268
340,784,412
Fidelity Securities Lending Cash Central Fund (k)(l)
 
3.70
69,160,665
69,167,581
 
TOTAL MONEY MARKET FUNDS
 (Cost $409,951,992)
 
 
 
409,951,993
 
 
 
 
 
 
TOTAL INVESTMENT IN SECURITIES - 101.2%
 (Cost $9,345,431,283)
 
 
 
13,723,763,211
NET OTHER ASSETS (LIABILITIES) - (1.2)% (h)
(160,971,805)
NET ASSETS - 100.0%
13,562,791,406
 
 
 
Futures Contracts 
 
Number
of contracts
Expiration
Date
Notional
Amount ($)
 
Unrealized
Appreciation/
(Depreciation) ($)
 
LONG
 
 
 
 
 
 
 
 
 
Equity Contracts
 
 
 
 
ICE MSCI Emerging Markets Index Contracts (United States)
3,249
3/2026
247,053,960
25,320,597
 
 
 
 
 
The notional amount of long futures as a percentage of Net Assets is 1.8%.

Legend
 
(a)
Amount is stated in United States dollars unless otherwise noted.
 
(b)
Security exempt from registration under Regulation S of the Securities Act of 1933 and may be resold to qualified foreign investors outside of the United States. At the end of the period, the value of securities amounted to $618,470,731 or 4.6% of net assets.
 
(c)
Security exempt from registration under Rule 144A of the Securities Act of 1933.  These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers. At the end of the period, the value of these securities amounted to $594,337,103 or 4.4% of net assets.
 
(d)
Non-income producing.
 
(e)
Security or a portion of the security is on loan at period end.
 
(f)
Level 3 security.
 
(g)
Affiliated company.
 
(h)
Includes $2,967,730 of cash collateral to cover margin requirements for futures contracts.
 
(i)
Yield represents either the annualized yield at the date of purchase, or the stated coupon rate, or, for floating and adjustable rate securities, the rate at period end.
 
(j)
Security or a portion of the security was pledged to cover margin requirements for futures contracts. At period end, the value of securities pledged amounted to $5,801,203.
 
(k)
Affiliated fund that is generally available only to investment companies and other accounts managed by Fidelity Investments. The rate quoted is the annualized seven-day yield of the fund at period end. A complete unaudited listing of the fund's holdings as of its most recent quarter end is available upon request. In addition, each Fidelity Central Fund's financial statements are available on the SEC's website or upon request.
 
(l)
Investment made with cash collateral received from securities on loan.
 
At period end, the value of non-cash collateral for securities on loan amounted to $13,445,502.
 
 
 
Affiliated Central Funds
 
Fiscal year to date information regarding the Fund's investments in Fidelity Central Funds, including the ownership percentage, is presented below.
Affiliate
Value,
beginning
of period ($)
Purchases ($)
Sales
Proceeds ($)
Dividend
Income ($)
Realized
Gain (loss) ($)
Change in
Unrealized
appreciation
(depreciation) ($)
Value,
end
of period ($)
 
 
Shares,
end
of period
% ownership,
end
of period
Fidelity Cash Central Fund
301,498,042
879,969,255
840,657,282
3,525,598
(25,603)
-
340,784,412
340,716,268
0.6%
Fidelity Securities Lending Cash Central Fund
138,125,570
139,536,841
208,489,992
608,457
(4,838)
-
69,167,581
69,160,665
0.2%
Total
439,623,612
1,019,506,096
1,049,147,274
4,134,055
(30,441)
-
409,951,993
 
 
 
 
 
 
 
 
 
 
 
 
Amounts in the dividend income column in the above table include any capital gain distributions from underlying funds.
 
Amounts in the dividend income column for Fidelity Securities Lending Cash Central Fund represents the income earned on investing cash collateral, less rebates paid to borrowers and any lending agent fees associated with the loan, plus any premium income received for lending certain types of securities.
Investment Valuation
Investments are valued as of 4:00 p.m. Eastern time on the last calendar day of the period. Securities transactions are accounted for as of trade date. The Board of Trustees (the Board) has designated the Fund's investment adviser as the valuation designee responsible for the fair valuation function and performing fair value determinations as needed. The investment adviser has established a Fair Value Committee (the Committee) to carry out the day-to-day fair valuation responsibilities and has adopted policies and procedures to govern the fair valuation process and the activities of the Committee. In accordance with these fair valuation policies and procedures, which have been approved by the Board, the Fund attempts to obtain prices from one or more third party pricing services or brokers to value its investments. When current market prices, quotations or currency exchange rates are not readily available or reliable, investments will be fair valued in good faith by the Committee, in accordance with the policies and procedures. Factors used in determining fair value vary by investment type and may include market or investment specific events, transaction data, estimated cash flows, and market observations of comparable investments. The frequency that the fair valuation procedures are used cannot be predicted and they may be utilized to a significant extent. The Committee manages the Fund's fair valuation practices and maintains the fair valuation policies and procedures. The Fund's investment adviser reports to the Board information regarding the fair valuation process and related material matters.   
 
The inputs to valuation techniques used to value investments are categorized into a disclosure hierarchy consisting of three levels as shown below:
 
Level 1 - Unadjusted quoted prices in active markets for identical investments
Level 2 - other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, etc.)
Level 3 - unobservable inputs (including the Fund's own assumptions based on the best information available)
 
Valuation techniques used to value investments by major category are as follows:
Equity securities, including restricted securities, for which market quotations are readily available, are valued at the last reported sale price or official closing price as reported by a third party pricing service on the primary market or exchange on which they are traded and are categorized as Level 1 in the hierarchy. In the event there were no sales during the day or closing prices are not available, securities are valued at the last quoted bid price or may be valued using the last available price and are generally categorized as Level 2 in the hierarchy. For any foreign equity securities, when market or security specific events arise, comparisons to the valuation of American Depositary Receipts (ADRs), futures contracts, Exchange-Traded Funds (ETFs) and certain indexes as well as quoted prices for similar securities may be used and would be categorized as Level 2 in the hierarchy. For equity securities, including restricted securities, where observable inputs are limited, assumptions about market activity and risk are used and these securities may be categorized as Level 3 in the hierarchy.
 
Debt securities, including restricted securities, are valued based on evaluated prices received from third party pricing services or from brokers who make markets in such securities. U.S. Treasury Obligations are valued by pricing services who utilize matrix pricing which considers yield or price of bonds of comparable quality, coupon, maturity and type or by broker-supplied prices. When independent prices are unavailable or unreliable, debt securities may be valued utilizing pricing methodologies which consider similar factors that would be used by third party pricing services. Debt securities are generally categorized as Level 2 in the hierarchy but may be Level 3 depending on the circumstances.
 
Futures contracts are valued at the settlement price established each day by the board of trade or exchange on which they are traded and are categorized as Level 1 in the hierarchy.
 
Investments in any open-end mutual funds are valued at their closing net asset value (NAV) each business day and are categorized as Level 1 in the hierarchy.
 
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy.
 
Derivative Instruments
Risk Exposures and the Use of Derivative Instruments: The Fund's investment objectives allow the Fund to enter into various types of derivative contracts. Derivatives are investments whose value is primarily derived from underlying assets, indices or reference rates and may be transacted on an exchange or over-the-counter (OTC). Derivatives may involve a future commitment to buy or sell a specified asset based on specified terms, to exchange future cash flows at periodic intervals based on a notional principal amount, or for one party to make one or more payments upon the occurrence of specified events in exchange for periodic payments from the other party.
 
The Fund used derivatives to increase returns, to gain exposure to certain types of assets and/or to manage exposure to certain risks as defined below. The success of any strategy involving derivatives depends on analysis of numerous economic factors, and if the strategies for investment do not work as intended, the Fund may not achieve its objectives.  
 
The Fund's use of derivatives increased or decreased its exposure to the following risk(s):
 
Equity Risk - Equity risk relates to the fluctuations in the value of financial instruments as a result of changes in market prices (other than those arising from interest rate risk or foreign exchange risk), whether caused by factors specific to an individual investment, its issuer, or all factors affecting all instruments traded in a market or market segment.
 
Investing in derivatives may involve greater risks than investing in the underlying assets directly and, to varying degrees, may involve risk of loss in excess of any initial investment and collateral received. In addition, there may be the risk that the change in value of the derivative contract does not correspond to the change in value of the underlying instrument.  
 
Futures Contracts: A futures contract is an agreement between two parties to buy or sell a specified underlying instrument for a specified price at a specified future date.
 
The Fund used futures contracts to manage its exposure to the stock market.
 
Open futures contracts at period end are presented in the Schedule of Investments under the caption "Futures Contracts". The underlying face amount at value reflects each contract's exposure to the underlying instrument or index at period end. Any securities and/or cash deposited to meet initial margin requirements are identified in the Schedule of Investments.
 
For additional information on the Fund's significant accounting policies, please refer to the Fund's most recent semiannual or annual shareholder report.
 
The fund's schedule of investments as of the date on the cover of this report has not been audited. This report is provided for the general information of the fund's shareholders. For more information regarding the fund and its holdings, please see the fund's most recent prospectus and annual report.
 
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