UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSRS
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act file number 811-05601
SEI Institutional International Trust
(Exact name of registrant as specified in charter)
SEI Investments
One Freedom Valley Drive
Oaks, PA 19456
(Address of principal executive offices) (Zip code)
Timothy D. Barto, Esq.
SEI Investments
One Freedom Valley Drive
Oaks, PA 19456
(Name and address of agent for service)
Registrant’s telephone number, including area code: 610-676-1000
Date of fiscal year end: September 30, 2026
Date of reporting period: March 31, 2026
| Item 1. | Reports to Stockholders. |
(a) A copy of the report transmitted to stockholders pursuant to Rule 30e-1 under the Investment Company Act of 1940, as amended (the “Act”) (17 CFR § 270.30e-1), is attached hereto.
(b) Not applicable.
| Item 2. | Code of Ethics. |
Not applicable for semi-annual report.
| Item 3. | Audit Committee Financial Expert. |
Not applicable for semi-annual report.
| Item 4. | Principal Accountant Fees and Services. |
Not applicable for semi-annual report.
| Item 5. | Audit Committee of Listed Registrants. |
Not applicable.
| Item 6. | Investments |
(a) The Schedules of Investments and Consolidated Schedules of Investments are included as part of the Financial Statements and Financial Highlights filed under Item 7 of this form.
(b) Not applicable.
| Item 7. | Financial Statements and Financial Highlights for Open-End Management Investment Companies. |
Financial statements and financial highlights are filed herein.

March 31, 2026
SEMI-ANNUAL FINANCIALS AND OTHER INFORMATION
SEI Institutional International Trust
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International Equity Fund |
![]() |
Emerging Markets Equity Fund |
![]() |
International Fixed Income Fund |
![]() |
Emerging Markets Debt Fund |
seic.com
TABLE OF CONTENTS
| Financial Statements (Form N-CSRS Item 7) | |
| Schedules of Investments | 1 |
| Statements of Assets and Liabilities | 68 |
| Statements of Operations | 70 |
| Statements of Changes in Net Assets | 71 |
| Financial Highlights | 73 |
| Notes to Financial Statements | 75 |
| Other Information (Form N-CSRS Items 8-11) (Unaudited) | 94 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
International Equity Fund
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK — 94.1% | ||||||||
| Australia — 2.7% | ||||||||
| Communication Services — 0.0% | ||||||||
| REA Group Ltd | 14,270 | $ | 1,552 | |||||
| Consumer Discretionary — 0.3% | ||||||||
| Aristocrat Leisure Ltd | 219,571 | 6,928 | ||||||
| Eagers Automotive Ltd | 77,780 | 1,214 | ||||||
| Lottery Corp Ltd/The | 590,451 | 2,189 | ||||||
| 10,331 | ||||||||
| Consumer Staples — 0.0% | ||||||||
| GrainCorp Ltd, Cl A | 1,859 | 8 | ||||||
| Energy — 0.3% | ||||||||
| Beach Energy | 876,112 | 768 | ||||||
| Whitehaven Coal Ltd | 210,415 | 1,348 | ||||||
| Woodside Energy Group Ltd | 262,170 | 6,177 | ||||||
| Yancoal Australia Ltd | 450,938 | 2,582 | ||||||
| 10,875 | ||||||||
| Financials — 0.4% | ||||||||
| ANZ Group Holdings Ltd | 96,197 | 2,401 | ||||||
| Helia Group Ltd | 109,333 | 398 | ||||||
| HUB24 Ltd | 18,135 | 1,054 | ||||||
| Magellan Financial Group Ltd | 99,194 | 677 | ||||||
| Medibank Pvt Ltd | 983,135 | 2,953 | ||||||
| National Australia Bank Ltd | 94,014 | 2,699 | ||||||
| QBE Insurance Group Ltd | 182,442 | 2,673 | ||||||
| 12,855 | ||||||||
| Health Care — 0.2% | ||||||||
| Ansell Ltd | 79,353 | 1,546 | ||||||
| Cochlear Ltd | 14,274 | 1,667 | ||||||
| Pro Medicus Ltd | 33,709 | 2,758 | ||||||
| Regis Healthcare Ltd | 11,851 | 50 | ||||||
| 6,021 | ||||||||
| Industrials — 0.3% | ||||||||
| Brambles Ltd | 330,111 | 5,143 | ||||||
| Computershare Ltd | 72,759 | 1,424 | ||||||
| Downer EDI Ltd | 138,664 | 737 | ||||||
| GenusPlus Group Ltd | 7,212 | 36 | ||||||
| Monadelphous Group Ltd | 4,192 | 80 | ||||||
| Qantas Airways Ltd | 426,855 | 2,489 | ||||||
| Service Stream Ltd | 43,541 | 58 | ||||||
| SRG Global Ltd | 155,456 | 265 | ||||||
| Ventia Services Group Pty Ltd | 28,566 | 103 | ||||||
| 10,335 | ||||||||
| Information Technology — 0.0% | ||||||||
| Bravura Solutions Ltd | 19,803 | 28 | ||||||
| Codan Ltd | 90,522 | 1,978 | ||||||
| 2,006 | ||||||||
| Description | Shares | Market Value ($ Thousands) |
||||||
| COMMON STOCK (continued) | ||||||||
| Materials — 0.9% | ||||||||
| BHP Group Ltd | 144,355 | $ | 5,185 | |||||
| BlueScope Steel Ltd | 46,178 | 830 | ||||||
| Capricorn Metals Ltd | 121,818 | 956 | ||||||
| Dyno Nobel Ltd | 184,557 | 399 | ||||||
| Evolution Mining Ltd | 235,549 | 2,106 | ||||||
| Fortescue Ltd | 287,090 | 4,072 | ||||||
| Genesis Minerals Ltd * | 207,746 | 868 | ||||||
| Imdex Ltd | 73,124 | 198 | ||||||
| Northern Star Resources Ltd | 51,952 | 750 | ||||||
| OceanaGold Corp | 37,600 | 1,182 | ||||||
| Orica Ltd | 183,356 | 2,558 | ||||||
| Orora Ltd | 772,829 | 1,008 | ||||||
| Perseus Mining Ltd | 992,684 | 3,610 | ||||||
| Ramelius Resources Ltd | 932,657 | 2,410 | ||||||
| Regis Resources Ltd | 280,833 | 1,321 | ||||||
| Resolute Mining Ltd * | 1,608,940 | 1,579 | ||||||
| Sandfire Resources Ltd * | 59,866 | 682 | ||||||
| South32 Ltd | 299,848 | 901 | ||||||
| Vault Minerals Ltd | 24,250 | 72 | ||||||
| West African Resources Ltd * | 63,257 | 143 | ||||||
| Zimplats Holdings Ltd * | 4,323 | 52 | ||||||
| 30,882 | ||||||||
| Real Estate — 0.2% | ||||||||
| Charter Hall Group ‡ | 208,921 | 2,702 | ||||||
| Charter Hall Retail REIT ‡ | 276,428 | 726 | ||||||
| Dexus ‡ | 610,390 | 2,498 | ||||||
| GPT Group/The ‡ | 26,642 | 84 | ||||||
| Region Group ‡ | 353,898 | 553 | ||||||
| Servcorp Ltd | 11,858 | 56 | ||||||
| Waypoint REIT Ltd ‡ | 336,180 | 545 | ||||||
| 7,164 | ||||||||
| Utilities — 0.1% | ||||||||
| AGL Energy Ltd | 293,318 | 1,993 | ||||||
| Origin Energy Ltd | 124,486 | 1,064 | ||||||
| 3,057 | ||||||||
| Total Australia | 95,086 | |||||||
| Austria — 1.2% | ||||||||
| Energy — 0.2% | ||||||||
| OMV AG | 85,706 | 6,250 | ||||||
| Financials — 0.7% | ||||||||
| BAWAG Group AG | 1,523 | 231 | ||||||
| Erste Group Bank AG | 146,054 | 15,728 | ||||||
| Raiffeisen Bank International AG | 113,974 | 4,865 | ||||||
| UNIQA Insurance Group AG | 59,028 | 1,031 | ||||||
| Vienna Insurance Group AG Wiener Versicherung Gruppe | 22,745 | 1,611 | ||||||
| 23,466 | ||||||||
| Industrials — 0.1% | ||||||||
| ANDRITZ AG | 32,958 | 2,285 | ||||||
|
SEI Institutional International Trust |
1 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
International Equity Fund (Continued)
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK (continued) | ||||||||
| FACC AG * | 1,900 | $ | 29 | |||||
| Oesterreichische Post AG | 15,468 | 617 | ||||||
| Palfinger AG | 11,122 | 440 | ||||||
| Porr Ag | 26,361 | 1,098 | ||||||
| 4,469 | ||||||||
| Information Technology — 0.0% | ||||||||
| ams-OSRAM AG * | 55,562 | 589 | ||||||
| Materials — 0.2% | ||||||||
| voestalpine AG | 190,549 | 8,428 | ||||||
| Total Austria | 43,202 | |||||||
| Belgium — 1.2% | ||||||||
| Communication Services — 0.0% | ||||||||
| Proximus SADP | 50,955 | 411 | ||||||
| Consumer Discretionary — 0.0% | ||||||||
| D'ieteren Group | 5,332 | 984 | ||||||
| Financials — 0.8% | ||||||||
| Ageas SA/NV | 77,585 | 5,693 | ||||||
| Groupe Bruxelles Lambert NV | 4,675 | 424 | ||||||
| KBC Group NV | 158,491 | 19,337 | ||||||
| 25,454 | ||||||||
| Health Care — 0.3% | ||||||||
| Fagron | 14,249 | 357 | ||||||
| UCB SA | 32,162 | 9,660 | ||||||
| 10,017 | ||||||||
| Industrials — 0.0% | ||||||||
| Deme Group NV | 4,616 | 1,000 | ||||||
| Jensen-Group NV | 472 | 35 | ||||||
| 1,035 | ||||||||
| Information Technology — 0.0% | ||||||||
| Barco NV | 10,143 | 113 | ||||||
| EVS Broadcast Equipment SA | 709 | 27 | ||||||
| Materialise NV ADR * | 6,532 | 32 | ||||||
| 172 | ||||||||
| Materials — 0.1% | ||||||||
| Bekaert SA | 20,427 | 959 | ||||||
| Umicore SA | 115,213 | 2,191 | ||||||
| 3,150 | ||||||||
| Total Belgium | 41,223 | |||||||
| Bermuda — 0.0% | ||||||||
| Industrials — 0.0% | ||||||||
| Himalaya Shipping Ltd | 11,429 | 149 | ||||||
| Brazil — 0.8% | ||||||||
| Consumer Staples — 0.3% | ||||||||
| Ambev SA | 3,108,000 | 9,076 | ||||||
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK (continued) | ||||||||
| Financials — 0.2% | ||||||||
| Banco do Brasil SA | 1,464,400 | $ | 6,467 | |||||
| Materials — 0.3% | ||||||||
| Vale SA | 297,300 | 4,695 | ||||||
| Yara International ASA | 121,789 | 7,077 | ||||||
| 11,772 | ||||||||
| Total Brazil | 27,315 | |||||||
| Canada — 0.9% | ||||||||
| Consumer Discretionary — 0.5% | ||||||||
| A&W Food Services of Canada Inc | 628 | 17 | ||||||
| Aritzia Inc * | 3,100 | 252 | ||||||
| Exco Technologies Ltd | 7,454 | 41 | ||||||
| Magna International Inc, Cl A | 289,018 | 16,102 | ||||||
| Martinrea International Inc | 52,481 | 351 | ||||||
| 16,763 | ||||||||
| Energy — 0.1% | ||||||||
| Enerflex Ltd | 191,100 | 3,985 | ||||||
| Ensign Energy Services Inc * | 31,927 | 83 | ||||||
| Journey Energy Inc * | 14,400 | 56 | ||||||
| Paramount Resources Ltd, Cl A | 12,900 | 275 | ||||||
| Pason Systems Inc | 3,633 | 34 | ||||||
| 4,433 | ||||||||
| Financials — 0.1% | ||||||||
| AGF Management Ltd, Cl B | 14,781 | 214 | ||||||
| Bank of Nova Scotia/The | 12,000 | 830 | ||||||
| Canaccord Genuity Group Inc | 38,300 | 327 | ||||||
| Canadian Imperial Bank of Commerce | 12,800 | 1,209 | ||||||
| National Bank of Canada | 2,800 | 361 | ||||||
| Sprott Inc | 2,200 | 313 | ||||||
| 3,254 | ||||||||
| Health Care — 0.0% | ||||||||
| Knight Therapeutics Inc * | 5,800 | 31 | ||||||
| Industrials — 0.0% | ||||||||
| Chorus Aviation Inc | 4,457 | 72 | ||||||
| Finning International Inc | 10,800 | 666 | ||||||
| 738 | ||||||||
| Information Technology — 0.0% | ||||||||
| Celestica Inc * | 564 | 159 | ||||||
| Materials — 0.2% | ||||||||
| Amerigo Resources Ltd | 116,715 | 421 | ||||||
| Centerra Gold Inc, Cl Common Subs. Receipt | 12,746 | 226 | ||||||
| Dynacor Group Inc | 9,700 | 41 | ||||||
| Fortuna Mining Corp * | 182,800 | 1,812 | ||||||
| Gold Royalty Corp * | 32,636 | 117 | ||||||
| Hudbay Minerals Inc | 146,400 | 3,056 | ||||||
| Imperial Metals Corp * | 24,700 | 137 | ||||||
| 2 |
SEI Institutional International Trust |
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK (continued) | ||||||||
| Mako Mining Corp * | 15,800 | $ | 101 | |||||
| Santacruz Silver Mining Ltd * | 51,025 | 442 | ||||||
| SSR Mining Inc * | 6,812 | 200 | ||||||
| Thor Explorations Ltd | 213,200 | 214 | ||||||
| Torex Gold Resources Inc | 11,700 | 535 | ||||||
| 7,302 | ||||||||
| Total Canada | 32,680 | |||||||
| Chile — 0.0% | ||||||||
| Materials — 0.0% | ||||||||
| Lundin Mining Corp, Cl Common Subs. Receipt | 39,700 | 987 | ||||||
| China — 1.9% | ||||||||
| Consumer Discretionary — 0.7% | ||||||||
| Alibaba Group Holding Ltd | 764,154 | 11,980 | ||||||
| China Beststudy Education Group | 629,000 | 276 | ||||||
| Haier Smart Home Co Ltd, Cl A | 2,957,539 | 7,924 | ||||||
| Luyuan Group Holding Cayman Ltd | 10,000 | 16 | ||||||
| Prosus NV | 53,956 | 2,490 | ||||||
| 22,686 | ||||||||
| Consumer Staples — 0.1% | ||||||||
| Wilmar International Ltd | 874,373 | 2,618 | ||||||
| Financials — 0.3% | ||||||||
| China Merchants Bank Co Ltd, Cl H | 1,498,342 | 9,522 | ||||||
| Industrials — 0.6% | ||||||||
| KLN Logistics Group Ltd | 227,315 | 192 | ||||||
| SITC International Holdings Co Ltd | 2,476,698 | 10,846 | ||||||
| Yangzijiang Shipbuilding Holdings Ltd | 3,562,419 | 10,545 | ||||||
| 21,583 | ||||||||
| Information Technology — 0.0% | ||||||||
| VSTECS Holdings Ltd | 1,594,000 | 1,758 | ||||||
| Materials — 0.0% | ||||||||
| Ximei Resources Holding Ltd | 10,000 | 18 | ||||||
| Real Estate — 0.2% | ||||||||
| China Overseas Land & Investment Ltd | 5,429,421 | 8,098 | ||||||
| Total China | 66,283 | |||||||
| Cote d'Ivoire — 0.0% | ||||||||
| Materials — 0.0% | ||||||||
| Endeavour Mining PLC | 23,799 | 1,429 | ||||||
| Denmark — 1.0% | ||||||||
| Consumer Discretionary — 0.0% | ||||||||
| Pandora A/S | 326 | 23 | ||||||
| Financials — 0.7% | ||||||||
| AL Sydbank | 5,507 | 441 | ||||||
| Danske Bank A/S | 326,329 | 16,032 | ||||||
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK (continued) | ||||||||
| Jyske Bank A/S | 19,617 | $ | 2,684 | |||||
| Ringkjoebing Landbobank A/S | 22,650 | 5,429 | ||||||
| 24,586 | ||||||||
| Health Care — 0.1% | ||||||||
| Genmab A/S * | 11,779 | 3,163 | ||||||
| Novo Nordisk A/S ADR | 21,444 | 788 | ||||||
| 3,951 | ||||||||
| Industrials — 0.2% | ||||||||
| D/S Norden A/S | 624 | 29 | ||||||
| Dfds A/S * | 5,043 | 82 | ||||||
| ISS A/S | 50,412 | 1,830 | ||||||
| Per Aarsleff Holding A/S | 21,520 | 2,484 | ||||||
| Vestas Wind Systems A/S | 69,978 | 2,105 | ||||||
| 6,530 | ||||||||
| Total Denmark | 35,090 | |||||||
| Finland — 1.6% | ||||||||
| Communication Services — 0.0% | ||||||||
| Sanoma Oyj | 25,237 | 260 | ||||||
| Consumer Discretionary — 0.0% | ||||||||
| Verkkokauppa.com Oyj * | 17,687 | 70 | ||||||
| Consumer Staples — 0.0% | ||||||||
| Anora Group Oyj | 33,377 | 153 | ||||||
| Energy — 0.1% | ||||||||
| Neste Oyj | 70,122 | 2,272 | ||||||
| Financials — 0.2% | ||||||||
| Nordea Bank Abp | 496,406 | 8,521 | ||||||
| Health Care — 0.2% | ||||||||
| Orion Oyj, Cl B | 80,018 | 6,447 | ||||||
| Industrials — 0.8% | ||||||||
| GRK Infra Oyj * | 1,442 | 20 | ||||||
| Kalmar Oyj, Cl B | 11,321 | 572 | ||||||
| Kone Oyj, Cl B | 80,541 | 5,126 | ||||||
| Konecranes Oyj | 114,483 | 3,746 | ||||||
| Lassila & Tikanoja Oyj * | 2,160 | 18 | ||||||
| Luotea Plc | 2,160 | 6 | ||||||
| Metso Oyj | 375,297 | 6,484 | ||||||
| Wartsila OYJ Abp, Cl B | 267,932 | 9,948 | ||||||
| 25,920 | ||||||||
| Information Technology — 0.3% | ||||||||
| Bittium Oyj | 10,414 | 439 | ||||||
| F-Secure Oyj | 28,131 | 53 | ||||||
| Incap Oyj * | 3,807 | 41 | ||||||
| Nokia Oyj | 521,966 | 4,174 | ||||||
| Nokia Oyj ADR | 856,837 | 6,889 | ||||||
|
SEI Institutional International Trust |
3 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
International Equity Fund (Continued)
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK (continued) | ||||||||
| Scanfil Oyj | 782 | $ | 10 | |||||
| 11,606 | ||||||||
| Utilities — 0.0% | ||||||||
| Fortum Oyj | 44,327 | 1,130 | ||||||
| Total Finland | 56,379 | |||||||
| France — 6.8% | ||||||||
| Communication Services — 0.6% | ||||||||
| Canal+ SA | 402,246 | 1,066 | ||||||
| IPSOS SA | 20,201 | 795 | ||||||
| JCDecaux SE * | 15,268 | 330 | ||||||
| Orange SA | 169,961 | 3,474 | ||||||
| Publicis Groupe SA | 179,393 | 14,802 | ||||||
| 20,467 | ||||||||
| Consumer Discretionary — 1.6% | ||||||||
| Accor SA | 105,874 | 5,062 | ||||||
| Cie Generale des Etablissements Michelin SCA | 700,129 | 23,910 | ||||||
| Hermes International SCA | 1,574 | 2,972 | ||||||
| LVMH Moet Hennessy Louis Vuitton SE | 39,173 | 21,347 | ||||||
| Trigano SA | 4,657 | 764 | ||||||
| Valeo SE | 115,612 | 1,411 | ||||||
| 55,466 | ||||||||
| Consumer Staples — 0.4% | ||||||||
| Carrefour SA | 297,017 | 5,482 | ||||||
| Danone SA | 207 | 16 | ||||||
| L'Oreal SA | 21,110 | 8,592 | ||||||
| 14,090 | ||||||||
| Energy — 0.6% | ||||||||
| Gaztransport Et Technigaz SA | 11,308 | 2,651 | ||||||
| North Atlantic Energies | 5,579 | 429 | ||||||
| TotalEnergies SE | 179,936 | 16,462 | ||||||
| 19,542 | ||||||||
| Financials — 0.9% | ||||||||
| Amundi SA | 139,962 | 11,990 | ||||||
| AXA SA | 56,670 | 2,596 | ||||||
| BNP Paribas SA | 66,703 | 6,334 | ||||||
| Coface SA | 65,631 | 1,139 | ||||||
| SCOR SE | 89,101 | 3,175 | ||||||
| Societe Generale SA | 103,971 | 7,568 | ||||||
| VIEL & Cie SA | 2,891 | 50 | ||||||
| 32,852 | ||||||||
| Health Care — 0.2% | ||||||||
| EssilorLuxottica SA | 14,067 | 3,268 | ||||||
| Ipsen SA | 26,045 | 4,852 | ||||||
| 8,120 | ||||||||
| Industrials — 1.6% | ||||||||
| Air France-KLM * | 129,399 | 1,307 | ||||||
| Airbus SE | 28,566 | 5,384 | ||||||
| Bouygues SA | 76,830 | 4,439 | ||||||
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK (continued) | ||||||||
| Cie de Saint-Gobain SA | 337 | $ | 28 | |||||
| Derichebourg SA | 6,556 | 62 | ||||||
| Eiffage SA | 31,544 | 4,822 | ||||||
| Elis SA | 33,851 | 956 | ||||||
| Legrand SA | 18,597 | 2,880 | ||||||
| Rexel SA | 384,390 | 15,184 | ||||||
| Safran SA | 16,814 | 5,485 | ||||||
| Societe BIC SA | 9,353 | 583 | ||||||
| Teleperformance SE | 238,140 | 13,950 | ||||||
| 55,080 | ||||||||
| Information Technology — 0.0% | ||||||||
| Alten SA | 7,705 | 476 | ||||||
| Dassault Systemes SE | 23,944 | 483 | ||||||
| Neurones | 996 | 41 | ||||||
| 1,000 | ||||||||
| Materials — 0.4% | ||||||||
| Arkema SA | 181,979 | 12,455 | ||||||
| Real Estate — 0.2% | ||||||||
| Carmila SA, Strike Price 866859 ‡ | 29,577 | 573 | ||||||
| Covivio SA/France ‡ | 28,949 | 1,725 | ||||||
| Klepierre SA ‡ | 103,115 | 3,859 | ||||||
| 6,157 | ||||||||
| Utilities — 0.3% | ||||||||
| Engie SA | 297,227 | 9,549 | ||||||
| Rubis SCA | 39,805 | 1,608 | ||||||
| 11,157 | ||||||||
| Total France | 236,386 | |||||||
| Gabon — 0.0% | ||||||||
| Energy — 0.0% | ||||||||
| BW Energy Ltd * | 42,781 | 274 | ||||||
| Georgia — 0.1% | ||||||||
| Financials — 0.1% | ||||||||
| Lion Finance Group PLC | 16,143 | 1,996 | ||||||
| TBC Bank Group PLC | 24,207 | 1,317 | ||||||
| 3,313 | ||||||||
| Total Georgia | 3,313 | |||||||
| Germany — 7.5% | ||||||||
| Communication Services — 0.4% | ||||||||
| Borussia Dortmund GmbH & Co KGaA | 40,992 | 144 | ||||||
| CTS Eventim AG & Co KGaA | 47,358 | 2,765 | ||||||
| Deutsche Telekom AG | 254,646 | 9,474 | ||||||
| Scout24 SE | 9,528 | 733 | ||||||
| Trivago NV ADR * | 4,663 | 13 | ||||||
| 13,129 | ||||||||
| Consumer Discretionary — 0.8% | ||||||||
| Aumovio SE * | 14,287 | 558 | ||||||
| Auto1 Group SE * | 887 | 16 | ||||||
| Bayerische Motoren Werke AG | 10,424 | 961 | ||||||
| 4 |
SEI Institutional International Trust |
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK (continued) | ||||||||
| Continental AG | 153,550 | $ | 10,685 | |||||
| Hornbach Holding AG & Co KGaA | 4,790 | 451 | ||||||
| HUGO BOSS AG | 65,368 | 2,821 | ||||||
| Mercedes-Benz Group AG | 187,261 | 11,473 | ||||||
| Schaeffler AG | 31,741 | 264 | ||||||
| TUI AG | 96,799 | 760 | ||||||
| Westwing Group SE * | 1,946 | 31 | ||||||
| Zeal Network SE | 44 | 2 | ||||||
| 28,022 | ||||||||
| Energy — 0.0% | ||||||||
| Friedrich Vorwerk Group SE | 10,064 | 830 | ||||||
| Financials — 1.0% | ||||||||
| Commerzbank AG | 180,245 | 6,554 | ||||||
| Deutsche Bank AG | 164,014 | 4,866 | ||||||
| Deutsche Boerse AG | 57,113 | 16,678 | ||||||
| DWS Group GmbH & Co KGaA | 31,848 | 2,045 | ||||||
| flatexDEGIRO SE | 42,782 | 1,471 | ||||||
| Muenchener Rueckversicherungs- Gesellschaft AG in Muenchen | 6,812 | 4,289 | ||||||
| 35,903 | ||||||||
| Health Care — 1.0% | ||||||||
| Bayer AG | 377,673 | 17,423 | ||||||
| Fresenius Medical Care AG | 348,622 | 15,749 | ||||||
| Medios AG * | 3,252 | 46 | ||||||
| 33,218 | ||||||||
| Industrials — 2.2% | ||||||||
| Bilfinger SE | 15,488 | 1,788 | ||||||
| Cewe Stiftung & Co KGAA | 1,678 | 181 | ||||||
| Daimler Truck Holding AG | 532,122 | 26,122 | ||||||
| Deutsche Lufthansa AG | 340,572 | 2,891 | ||||||
| Deutz AG | 82,973 | 832 | ||||||
| Duerr AG | 53,293 | 1,181 | ||||||
| GEA Group AG | 71,731 | 5,128 | ||||||
| HOCHTIEF AG | 10,147 | 4,601 | ||||||
| Indus Holding AG | 2,579 | 80 | ||||||
| Knorr-Bremse AG | 242 | 28 | ||||||
| Krones AG | 700 | 95 | ||||||
| MTU Aero Engines AG | 10,363 | 3,769 | ||||||
| Nordex SE * | 79,995 | 4,321 | ||||||
| Pfisterer Holding SE * | 8,131 | 658 | ||||||
| Rational AG | 1,541 | 1,127 | ||||||
| Siemens AG | 4,319 | 1,049 | ||||||
| Siemens Energy AG | 134,412 | 23,106 | ||||||
| SMA Solar Technology AG * | 22,594 | 1,250 | ||||||
| Technotrans SE | 848 | 27 | ||||||
| 78,234 | ||||||||
| Information Technology — 0.6% | ||||||||
| AIXTRON SE | 53,057 | 2,064 | ||||||
| Atoss Software SE | 7,545 | 668 | ||||||
| Basler AG * | 2,670 | 39 | ||||||
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK (continued) | ||||||||
| Elmos Semiconductor SE | 4,166 | $ | 716 | |||||
| SAP SE | 89,941 | 15,285 | ||||||
| Softwareone Holding AG | 89,081 | 778 | ||||||
| 19,550 | ||||||||
| Materials — 1.2% | ||||||||
| Alzchem Group AG | 3,019 | 602 | ||||||
| BASF SE | 434,656 | 26,686 | ||||||
| Evonik Industries AG | 710,497 | 13,898 | ||||||
| K+S AG | 1,018 | 19 | ||||||
| Salzgitter AG | 21,746 | 939 | ||||||
| thyssenkrupp AG | 118,160 | 1,038 | ||||||
| 43,182 | ||||||||
| Real Estate — 0.1% | ||||||||
| Aroundtown SA * | 437,693 | 1,162 | ||||||
| LEG Immobilien SE | 18,075 | 1,177 | ||||||
| 2,339 | ||||||||
| Utilities — 0.2% | ||||||||
| E.ON SE | 130,613 | 2,851 | ||||||
| RWE AG | 56,491 | 3,789 | ||||||
| 6,640 | ||||||||
| Total Germany | 261,047 | |||||||
| Guatemala — 0.0% | ||||||||
| Communication Services — 0.0% | ||||||||
| Millicom International Cellular SA | 7,862 | 589 | ||||||
| Hong Kong — 1.8% | ||||||||
| Consumer Discretionary — 0.2% | ||||||||
| Chow Sang Sang Holdings International Ltd | 497,432 | 871 | ||||||
| Crystal International Group Ltd | 710,363 | 531 | ||||||
| Johnson Electric Holdings Ltd | 513,496 | 1,558 | ||||||
| Luk Fook Holdings International Ltd | 331,000 | 981 | ||||||
| Yue Yuen Industrial Holdings Ltd | 1,210,715 | 2,362 | ||||||
| 6,303 | ||||||||
| Consumer Staples — 0.2% | ||||||||
| Chaoda Modern Agriculture Holdings Ltd * | 122,000 | 3 | ||||||
| WH Group Ltd | 4,165,999 | 5,477 | ||||||
| 5,480 | ||||||||
| Financials — 0.5% | ||||||||
| AIA Group Ltd | 707,400 | 7,861 | ||||||
| Bank of East Asia Ltd/The | 45,424 | 76 | ||||||
| Dah Sing Banking Group Ltd | 563,600 | 880 | ||||||
| Dah Sing Financial Holdings Ltd | 148,800 | 772 | ||||||
| Futu Holdings Ltd ADR * | 32,903 | 4,500 | ||||||
| Hong Kong Exchanges & Clearing Ltd | 45,941 | 2,318 | ||||||
| Hongkong Land Holdings Ltd | 292,700 | 2,281 | ||||||
| Sun Hung Kai & Co Ltd | 556,000 | 303 | ||||||
| 18,991 | ||||||||
| Health Care — 0.0% | ||||||||
| Modern Dental Group Ltd | 32,000 | 25 | ||||||
|
SEI Institutional International Trust |
5 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
International Equity Fund (Continued)
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK (continued) | ||||||||
| United Laboratories International Holdings Ltd/The | 601,722 | $ | 746 | |||||
| 771 | ||||||||
| Industrials — 0.2% | ||||||||
| Cathay Pacific Airways Ltd | 668,000 | 965 | ||||||
| Swire Pacific Ltd, Cl A | 240,858 | 2,633 | ||||||
| Techtronic Industries Co Ltd | 236,689 | 3,144 | ||||||
| TS Lines Ltd | 183,000 | 187 | ||||||
| 6,929 | ||||||||
| Information Technology — 0.1% | ||||||||
| PAX Global Technology Ltd | 1,339,000 | 734 | ||||||
| Plover Bay Technologies Ltd | 154,000 | 142 | ||||||
| VTech Holdings Ltd | 155,335 | 1,176 | ||||||
| 2,052 | ||||||||
| Real Estate — 0.6% | ||||||||
| CK Asset Holdings Ltd | 1,613,011 | 9,231 | ||||||
| Great Eagle Holdings Ltd | 20,000 | 42 | ||||||
| Hang Lung Group Ltd | 591,009 | 1,130 | ||||||
| Hang Lung Properties Ltd | 2,024,265 | 2,265 | ||||||
| Hysan Development Co Ltd | 543,441 | 1,305 | ||||||
| Kerry Properties Ltd | 713,223 | 2,000 | ||||||
| Langham Hospitality Investments and Langham Hospitality Investments Ltd | 1,333 | – | ||||||
| Sun Hung Kai Properties Ltd | 219,514 | 3,656 | ||||||
| Swire Properties Ltd | 312,800 | 916 | ||||||
| 20,545 | ||||||||
| Total Hong Kong | 61,071 | |||||||
| Indonesia — 0.5% | ||||||||
| Consumer Staples — 0.1% | ||||||||
| First Resources Ltd | 433,257 | 976 | ||||||
| Golden Agri-Resources Ltd | 3,991,041 | 948 | ||||||
| 1,924 | ||||||||
| Financials — 0.2% | ||||||||
| Bank Rakyat Indonesia Persero Tbk PT | 29,148,308 | 5,825 | ||||||
| Industrials — 0.2% | ||||||||
| Jardine Matheson Holdings Ltd | 108,276 | 7,783 | ||||||
| Total Indonesia | 15,532 | |||||||
| Ireland — 1.3% | ||||||||
| Consumer Discretionary — 0.0% | ||||||||
| Cairn Homes PLC | 361,456 | 886 | ||||||
| Consumer Staples — 0.0% | ||||||||
| Greencore Group PLC | 245,899 | 786 | ||||||
| Financials — 1.3% | ||||||||
| AIB Group PLC | 1,959,097 | 20,848 | ||||||
| Bank of Ireland Group PLC | 1,305,271 | 23,607 | ||||||
| 44,455 | ||||||||
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK (continued) | ||||||||
| Health Care — 0.0% | ||||||||
| Amarin Corp PLC ADR | 13,654 | $ | 197 | |||||
| Information Technology — 0.0% | ||||||||
| Fineos Corp Ltd, Cl CDI * | 16,698 | 26 | ||||||
| Total Ireland | 46,350 | |||||||
| Israel — 1.8% | ||||||||
| Communication Services — 0.0% | ||||||||
| B Communications Ltd *(A) | 25,894 | – | ||||||
| Cellcom Israel Ltd | 5,973 | 64 | ||||||
| Nexxen International Ltd * | 47,612 | 311 | ||||||
| Perion Network Ltd * | 46,268 | 462 | ||||||
| 837 | ||||||||
| Consumer Discretionary — 0.0% | ||||||||
| Castro Model Ltd | 1,483 | 45 | ||||||
| Delta Israel Brands Ltd | 972 | 31 | ||||||
| Max Stock Ltd | 56,069 | 472 | ||||||
| 548 | ||||||||
| Consumer Staples — 0.0% | ||||||||
| M Yochananof & Sons Ltd | 1,728 | 198 | ||||||
| Neto ME Holdings Ltd * | 1,575 | 132 | ||||||
| 330 | ||||||||
| Energy — 0.1% | ||||||||
| Delek Group Ltd | 4,421 | 1,482 | ||||||
| Financials — 1.4% | ||||||||
| Analyst IMS Investment Management Services Ltd | 8,667 | 339 | ||||||
| Ayalon Holdings Ltd | 1,105 | 47 | ||||||
| Bank Hapoalim BM | 329,954 | 7,717 | ||||||
| Bank Leumi Le-Israel BM | 990,302 | 22,053 | ||||||
| Generation Capital Ltd | 38,539 | 30 | ||||||
| Harel Insurance Investments & Financial Services Ltd | 44,752 | 2,485 | ||||||
| Israel Discount Bank Ltd, Cl A | 432,797 | 4,352 | ||||||
| MENIF - Financial Services Ltd | 5,824 | 45 | ||||||
| Mizrahi Tefahot Bank Ltd | 5,162 | 376 | ||||||
| More Provident Funds And Pension Ltd | 6,030 | 25 | ||||||
| Nawi Group Ltd | 1,461 | 24 | ||||||
| Phoenix Financial Ltd | 40,202 | 2,138 | ||||||
| Plus500 Ltd | 20,072 | 1,083 | ||||||
| Tel Aviv Stock Exchange Ltd | 120,710 | 5,340 | ||||||
| YD More Investments Ltd | 51,883 | 581 | ||||||
| 46,635 | ||||||||
| Health Care — 0.0% | ||||||||
| SofWave Medical Ltd * | 13,799 | 163 | ||||||
| Teva Pharmaceutical Industries Ltd ADR * | 5,644 | 170 | ||||||
| 333 | ||||||||
| 6 |
SEI Institutional International Trust |
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK (continued) | ||||||||
| Industrials — 0.0% | ||||||||
| FMS Enterprises Migun Ltd | 1,390 | $ | 115 | |||||
| Information Technology — 0.3% | ||||||||
| Allot Ltd * | 81,001 | 539 | ||||||
| Arad Ltd | 1,508 | 21 | ||||||
| Check Point Software Technologies Ltd * | 22,912 | 3,273 | ||||||
| Formula Systems 1985 Ltd | 316 | 38 | ||||||
| Gilat Satellite Networks Ltd * | 48,586 | 730 | ||||||
| Ituran Location and Control Ltd | 14,774 | 724 | ||||||
| Next Vision Stabilized Systems Ltd | 9,624 | 932 | ||||||
| Nova Ltd * | 5,625 | 2,443 | ||||||
| Qualitau Ltd | 5,240 | 874 | ||||||
| Telsys Ltd | 777 | 66 | ||||||
| Tower Semiconductor Ltd * | 9,106 | 1,598 | ||||||
| Wix.com Ltd * | 4,661 | 420 | ||||||
| 11,658 | ||||||||
| Materials — 0.0% | ||||||||
| Israel Corp Ltd | 1,693 | 472 | ||||||
| Real Estate — 0.0% | ||||||||
| IES Holdings Ltd * | 77 | 14 | ||||||
| Lahav L.R. Real Estate Ltd | 15,463 | 53 | ||||||
| 67 | ||||||||
| Utilities — 0.0% | ||||||||
| Zephyrus Wing Energies Ltd * | 2,535 | 24 | ||||||
| Total Israel | 62,501 | |||||||
| Italy — 3.8% | ||||||||
| Communication Services — 0.0% | ||||||||
| Arnoldo Mondadori Editore SpA | 207,913 | 477 | ||||||
| Fiera Milano SpA | 38,567 | 320 | ||||||
| MFE-MediaForEurope NV, Cl A | 251,609 | 755 | ||||||
| 1,552 | ||||||||
| Consumer Discretionary — 0.4% | ||||||||
| CIR SpA-Compagnie Industriali * | 257,347 | 202 | ||||||
| De' Longhi SpA | 16,364 | 573 | ||||||
| Ferrari NV | 1,199 | 406 | ||||||
| Lottomatica Group Spa | 97,707 | 2,812 | ||||||
| Moncler SpA | 28,155 | 1,690 | ||||||
| OVS SpA | 169,861 | 879 | ||||||
| PRADA SpA | 946,900 | 4,514 | ||||||
| Safilo Group SpA * | 22,177 | 44 | ||||||
| Sogefi SpA | 40,118 | 88 | ||||||
| Technogym SpA | 96,100 | 1,935 | ||||||
| 13,143 | ||||||||
| Consumer Staples — 0.2% | ||||||||
| Coca-Cola HBC AG | 118,755 | 6,665 | ||||||
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK (continued) | ||||||||
| Energy — 0.7% | ||||||||
| Eni SpA | 822,671 | $ | 23,318 | |||||
| Financials — 1.7% | ||||||||
| Azimut Holding SpA | 32,332 | 1,225 | ||||||
| Banca Mediolanum SpA | 273,049 | 5,515 | ||||||
| Banco di Desio e della Brianza SpA | 14,693 | 147 | ||||||
| FinecoBank Banca Fineco SpA | 152,012 | 3,371 | ||||||
| Generali | 148,501 | 5,956 | ||||||
| Intesa Sanpaolo SpA | 2,990,277 | 18,028 | ||||||
| Poste Italiane SpA | 146,985 | 3,449 | ||||||
| UniCredit SpA | 239,329 | 17,116 | ||||||
| Unipol Assicurazioni SpA | 216,084 | 5,004 | ||||||
| 59,811 | ||||||||
| Health Care — 0.1% | ||||||||
| Philogen SpA * | 4,799 | 125 | ||||||
| Recordati Industria Chimica e Farmaceutica SpA | 26,892 | 1,535 | ||||||
| 1,660 | ||||||||
| Industrials — 0.1% | ||||||||
| Danieli & C Officine Meccaniche SpA | 19,654 | 969 | ||||||
| Leonardo SpA | 59,072 | 4,005 | ||||||
| TREVI - Finanziaria Industriale SpA * | 300,500 | 113 | ||||||
| 5,087 | ||||||||
| Information Technology — 0.0% | ||||||||
| Cy4gate SPA, Cl CDI * | 11,424 | 91 | ||||||
| Utilities — 0.6% | ||||||||
| A2A SpA | 1,417,926 | 4,002 | ||||||
| ACEA SpA | 45,132 | 1,169 | ||||||
| Ascopiave SpA | 41,746 | 164 | ||||||
| Enel SpA | 755,137 | 8,230 | ||||||
| Iren SpA | 197,727 | 558 | ||||||
| Italgas SpA | 599,023 | 6,956 | ||||||
| 21,079 | ||||||||
| Total Italy | 132,406 | |||||||
| Japan — 18.1% | ||||||||
| Communication Services — 0.5% | ||||||||
| Hakuhodo DY Holdings Inc | 115,219 | 757 | ||||||
| Kakaku.com Inc | 3,300 | 43 | ||||||
| Konami Group Corp | 273 | 34 | ||||||
| Nexon Co Ltd | 102,000 | 1,917 | ||||||
| Nintendo Co Ltd | 218,700 | 12,455 | ||||||
| NTT Inc | 1,554,240 | 1,551 | ||||||
| SKY Perfect JSAT Holdings Inc | 93,635 | 1,771 | ||||||
| 18,528 | ||||||||
| Consumer Discretionary — 3.0% | ||||||||
| Aisin Corp | 138,349 | 1,944 | ||||||
| Asics Corp | 190,459 | 5,108 | ||||||
| Aucnet Inc | 4,400 | 34 | ||||||
|
SEI Institutional International Trust |
7 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
International Equity Fund (Continued)
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK (continued) | ||||||||
| Bandai Namco Holdings Inc | 3,918 | $ | 96 | |||||
| Bridgestone Corp | 344,814 | 7,168 | ||||||
| Central Automotive Products Ltd | 3,400 | 41 | ||||||
| Daikyonishikawa Corp | 9,200 | 49 | ||||||
| DCM Holdings Co Ltd | 38,442 | 390 | ||||||
| EDION Corp | 33,154 | 452 | ||||||
| Fast Retailing Co Ltd | 26,752 | 10,544 | ||||||
| Food & Life Cos Ltd | 57,607 | 3,428 | ||||||
| FuKoKu Co Ltd | 2,000 | 23 | ||||||
| Futaba Industrial Co Ltd | 5,800 | 36 | ||||||
| Goldwin Inc | 18,205 | 258 | ||||||
| Happinet Corp | 5,000 | 86 | ||||||
| Haseko Corp | 235,768 | 4,345 | ||||||
| Honda Motor Co Ltd | 891,356 | 7,197 | ||||||
| Iida Group Holdings Co Ltd | 287,191 | 4,407 | ||||||
| JTEKT Corp | 113,396 | 1,214 | ||||||
| K's Holdings Corp | 41,883 | 444 | ||||||
| Mazda Motor Corp | 299,938 | 2,047 | ||||||
| Mitsubishi Motors Corp | 297,918 | 597 | ||||||
| Niterra Co Ltd | 122,567 | 5,765 | ||||||
| NOK Corp | 37,910 | 685 | ||||||
| Panasonic Holdings Corp | 65,740 | 1,100 | ||||||
| Rinnai Corp | 71,583 | 1,669 | ||||||
| Ryohin Keikaku Co Ltd | 233,780 | 4,977 | ||||||
| Sankyo Co Ltd | 165,633 | 2,044 | ||||||
| Sanrio Co Ltd | 2,105 | 13 | ||||||
| Seiko Group Corp | 17,296 | 620 | ||||||
| Shimamura Co Ltd | 73,050 | 1,526 | ||||||
| Subaru Corp | 186,710 | 3,001 | ||||||
| Sumitomo Electric Industries Ltd | 237,298 | 13,451 | ||||||
| Suzuki Motor Corp | 480,753 | 5,846 | ||||||
| Takashimaya Co Ltd | 745 | 9 | ||||||
| Toyo Tire Corp | 35,309 | 826 | ||||||
| Toyoda Gosei Co Ltd | 82,038 | 2,145 | ||||||
| Toyota Boshoku Corp | 35,430 | 554 | ||||||
| USS Co Ltd | 348,068 | 3,652 | ||||||
| Yagi & Co Ltd | 900 | 23 | ||||||
| Yamada Holdings Co Ltd | 308,959 | 1,023 | ||||||
| Yamaha Corp | 225,111 | 1,590 | ||||||
| Yokohama Rubber Co Ltd/The | 69,942 | 2,677 | ||||||
| Yonex Co Ltd | 1,416 | 27 | ||||||
| ZOZO Inc | 102,085 | 713 | ||||||
| 103,844 | ||||||||
| Consumer Staples — 1.0% | ||||||||
| Aeon Co Ltd | 587,859 | 7,011 | ||||||
| Ain Holdings Inc | 13,238 | 473 | ||||||
| H2O Retailing Corp | 25,956 | 396 | ||||||
| Japan Tobacco Inc | 82,328 | 3,151 | ||||||
| Kotobuki Spirits Co Ltd | 29,427 | 342 | ||||||
| Megmilk Snow Brand Co Ltd | 18,348 | 374 | ||||||
| MEIJI Holdings Co Ltd | 1,355 | 33 | ||||||
| NH Foods Ltd | 15,340 | 680 | ||||||
| Nissui Corp | 3,902 | 33 | ||||||
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK (continued) | ||||||||
| Pigeon Corp | 32,021 | $ | 330 | |||||
| Shiseido Co Ltd | 230,000 | 4,688 | ||||||
| Suntory Beverage & Food Ltd | 614,830 | 17,321 | ||||||
| 34,832 | ||||||||
| Energy — 0.6% | ||||||||
| Cosmo Energy Holdings Co Ltd | 55,305 | 1,561 | ||||||
| ENEOS Holdings Inc | 306,264 | 2,753 | ||||||
| Idemitsu Kosan Co Ltd | 79,446 | 778 | ||||||
| Inpex Corp | 222,871 | 6,576 | ||||||
| Japan Petroleum Exploration Co Ltd | 82,630 | 1,358 | ||||||
| Nippon Mining Holdings | 301,421 | 6,664 | ||||||
| 19,690 | ||||||||
| Financials — 1.3% | ||||||||
| 77 Bank Ltd/The | 1,200 | 24 | ||||||
| Bank of the Ryukyus Ltd | 1,900 | 27 | ||||||
| Fukuoka Financial Group Inc | 158,857 | 6,069 | ||||||
| Japan Post Holdings Co Ltd | 710,093 | 8,179 | ||||||
| Japan Post Insurance Co Ltd | 280,980 | 2,827 | ||||||
| Keiyo Bank Ltd/The | 7,900 | 103 | ||||||
| Kita-Nippon Bank Ltd/The | 1,300 | 38 | ||||||
| Mitsubishi UFJ Financial Group Inc | 418,771 | 7,074 | ||||||
| Miyazaki Bank Ltd/The | 4,500 | 52 | ||||||
| Mizuho Financial Group Inc | 111,500 | 4,503 | ||||||
| MS&AD Insurance Group Holdings Inc | 1,700 | 44 | ||||||
| Nomura Holdings Inc | 63,300 | 497 | ||||||
| Ogaki Kyoritsu Bank Ltd/The | 3,500 | 138 | ||||||
| Okinawa Financial Group Inc | 1,000 | 34 | ||||||
| Resona Holdings Inc | 670,253 | 7,628 | ||||||
| San ju San Financial Group Inc | 7,200 | 67 | ||||||
| Shimizu Bank Ltd/The | 1,300 | 20 | ||||||
| Sony Financial Group Inc | 21,908 | 20 | ||||||
| Sumitomo Mitsui Financial Group Inc | 127,673 | 4,188 | ||||||
| Toho Bank Ltd/The | 8,600 | 36 | ||||||
| Tokio Marine Holdings Inc | 37,978 | 1,778 | ||||||
| TOMONY Holdings Inc | 6,300 | 33 | ||||||
| 43,379 | ||||||||
| Health Care — 1.9% | ||||||||
| Alfresa Holdings Corp | 86,849 | 1,399 | ||||||
| Asahi Intecc Co Ltd | 43,891 | 935 | ||||||
| Chugai Pharmaceutical Co Ltd | 65,896 | 3,625 | ||||||
| Hisamitsu Pharmaceutical Co Inc | 8,877 | 337 | ||||||
| Hoya Corp | 32,320 | 5,589 | ||||||
| Medipal Holdings Corp | 91,971 | 1,723 | ||||||
| Nippon Shinyaku Co Ltd | 20,467 | 672 | ||||||
| Nipro Corp | 54,839 | 539 | ||||||
| Olympus Corp | 1,176,097 | 11,178 | ||||||
| Ono Pharmaceutical Co Ltd | 235,199 | 3,766 | ||||||
| Otsuka Holdings Co Ltd | 74,618 | 5,283 | ||||||
| Santen Pharmaceutical Co Ltd | 171,287 | 1,932 | ||||||
| Sawai Group Holdings Co Ltd | 58,604 | 824 | ||||||
| Shionogi & Co Ltd | 572,653 | 12,637 | ||||||
| 8 |
SEI Institutional International Trust |
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK (continued) | ||||||||
| Ship Healthcare Holdings Inc | 31,279 | $ | 482 | |||||
| Suzuken Co Ltd/Aichi Japan | 31,657 | 1,195 | ||||||
| Sysmex Corp | 517,500 | 4,502 | ||||||
| Takeda Pharmaceutical Co Ltd | 217,821 | 8,002 | ||||||
| Terumo Corp | 31,014 | 416 | ||||||
| Toho Holdings Co Ltd | 29,461 | 882 | ||||||
| Tsumura & Co | 32,031 | 759 | ||||||
| 66,677 | ||||||||
| Industrials — 4.3% | ||||||||
| AGC Inc | 78,196 | 2,764 | ||||||
| Amada Co Ltd | 234,729 | 3,302 | ||||||
| ANA Holdings Inc | 85,760 | 1,532 | ||||||
| Anest Iwata Corp | 3,800 | 39 | ||||||
| Central Japan Railway Co | 267,465 | 6,938 | ||||||
| Chugai Ro Co Ltd | 800 | 21 | ||||||
| COMSYS Holdings Corp | 51,281 | 1,635 | ||||||
| Dai Nippon Printing Co Ltd | 200,873 | 3,651 | ||||||
| Daihatsu Infinearth Mfg Co Ltd | 3,200 | 43 | ||||||
| Daikin Industries Ltd | 158,300 | 18,942 | ||||||
| EXEO Group Inc | 98,483 | 1,689 | ||||||
| Fuji Corp/Aichi | 1,272 | 39 | ||||||
| Fujikura Ltd | 113,562 | 3,116 | ||||||
| Furukawa Electric Co Ltd | 16,768 | 3,211 | ||||||
| Gecoss Corp | 2,800 | 31 | ||||||
| grems Inc | 1,400 | 25 | ||||||
| Hanwa Co Ltd | 61,275 | 613 | ||||||
| Hazama Ando Corp | 43,455 | 542 | ||||||
| Helios Techno Holding Co Ltd | 7,200 | 52 | ||||||
| Hirakawa Hewtech Corp | 2,730 | 66 | ||||||
| Hitachi Ltd | 45,500 | 1,332 | ||||||
| Inaba Denki Sangyo Co Ltd | 42,879 | 714 | ||||||
| INFRONEER Holdings Inc | 214,149 | 2,964 | ||||||
| Japan Airlines Co Ltd | 81,221 | 1,323 | ||||||
| JGC Holdings Corp | 126,247 | 1,852 | ||||||
| Kajima Corp | 195,850 | 7,453 | ||||||
| Kamigumi Co Ltd | 30,658 | 1,057 | ||||||
| Kanaden Corp | 2,000 | 26 | ||||||
| Kanematsu Corp | 71,752 | 1,021 | ||||||
| Kinden Corp | 65,643 | 2,946 | ||||||
| Kitz Corp | 12,200 | 140 | ||||||
| Komatsu Ltd | 89,247 | 3,545 | ||||||
| KPP Group Holdings Co Ltd | 13,100 | 74 | ||||||
| Kubota Corp | 482,953 | 7,721 | ||||||
| MEITEC Group Holdings Inc | 15,199 | 314 | ||||||
| MINEBEA MITSUMI Inc | 748,106 | 12,392 | ||||||
| MIRAIT ONE corp | 29,141 | 672 | ||||||
| Mitsubishi Electric Corp | 249,283 | 8,134 | ||||||
| Mitsubishi Heavy Industries Ltd | 851 | 23 | ||||||
| Nachi-Fujikoshi Corp | 1,200 | 35 | ||||||
| Nagase & Co Ltd | 90,344 | 670 | ||||||
| NGK Corp | 60,032 | 1,543 | ||||||
| Nisshinbo Holdings Inc | 76,410 | 713 | ||||||
| NSK Ltd | 210,891 | 1,491 | ||||||
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK (continued) | ||||||||
| Obayashi Corp | 287,503 | $ | 6,947 | |||||
| OSG Corp | 32,306 | 525 | ||||||
| Penta-Ocean Construction Co Ltd | 179,212 | 1,901 | ||||||
| Recruit Holdings Co Ltd | 95,098 | 4,133 | ||||||
| Sanko Gosei Ltd | 28,900 | 158 | ||||||
| Sanwa Holdings Corp | 1,689 | 38 | ||||||
| Shimizu Corp | 267,529 | 4,788 | ||||||
| SHO-BOND Holdings Co Ltd | 41,300 | 369 | ||||||
| Sumitomo Corp | 1,045 | 39 | ||||||
| Sumitomo Heavy Industries Ltd | 59,513 | 1,816 | ||||||
| Taisei Corp | 68,753 | 7,106 | ||||||
| Takeuchi Manufacturing Co Ltd | 15,198 | 606 | ||||||
| Tanseisha Co Ltd | 9,300 | 88 | ||||||
| Toyota Tsusho Corp | 364,595 | 14,096 | ||||||
| Tsubakimoto Chain Co | 35,014 | 519 | ||||||
| Visional Inc * | 7,393 | 332 | ||||||
| World Holdings Co Ltd | 1,400 | 22 | ||||||
| Yurtec Corp | 2,900 | 48 | ||||||
| 149,937 | ||||||||
| Information Technology — 3.0% | ||||||||
| Advantest Corp | 49,939 | 6,875 | ||||||
| Alps Alpine Co Ltd | 97,657 | 1,321 | ||||||
| Amano Corp | 21,400 | 513 | ||||||
| Anritsu Corp | 72,235 | 1,308 | ||||||
| Argo Graphics Inc | 3,600 | 33 | ||||||
| Arisawa Manufacturing Co Ltd | 8,100 | 119 | ||||||
| BIPROGY Inc | 42,990 | 1,262 | ||||||
| Brother Industries Ltd | 137,399 | 2,538 | ||||||
| Canon Inc | 408,210 | 11,299 | ||||||
| Canon Marketing Japan Inc | 35,300 | 774 | ||||||
| Celsys Inc | 3,000 | 25 | ||||||
| Chino Corp | 2,500 | 23 | ||||||
| Citizen Watch Co Ltd | 946 | 10 | ||||||
| Comture Corp | 6,900 | 64 | ||||||
| Daiwabo Holdings Co Ltd | 29,363 | 577 | ||||||
| Furuno Electric Co Ltd | 2,500 | 100 | ||||||
| GMO internet group Inc | 31,818 | 583 | ||||||
| Horiba Ltd | 8,646 | 1,009 | ||||||
| Innotech Corp | 2,500 | 39 | ||||||
| Japan Aviation Electronics Industry Ltd | 28,800 | 418 | ||||||
| Japan Electronic Materials Corp | 11,700 | 414 | ||||||
| Keyence Corp | 47,179 | 16,751 | ||||||
| Koa Corp | 27,500 | 259 | ||||||
| Konica Minolta Inc | 235,617 | 789 | ||||||
| Mabuchi Motor Co Ltd | 99,206 | 997 | ||||||
| Marubun Corp | 9,300 | 66 | ||||||
| m-up Holdings Inc | 45,700 | 186 | ||||||
| Murata Manufacturing Co Ltd | 1,023,410 | 22,907 | ||||||
| Nagano Keiki Co Ltd | 3,000 | 53 | ||||||
| NEC Corp | 133,571 | 3,316 | ||||||
| Nichicon Corp | 20,900 | 235 | ||||||
| Nippon Ceramic Co Ltd | 1,300 | 28 | ||||||
| Nippon Electric Glass Co Ltd | 17,420 | 669 | ||||||
|
SEI Institutional International Trust |
9 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
International Equity Fund (Continued)
| Market Value | ||||||||
| Description | Shares | ($ Thousands) | ||||||
| COMMON STOCK (continued) | ||||||||
| OBIC Business Consultants Co Ltd | 132,008 | $ | 5,260 | |||||
| Obic Co Ltd | 102,388 | 2,479 | ||||||
| Oki Electric Industry Co Ltd | 5,700 | 96 | ||||||
| Optex Group Co Ltd | 4,400 | 74 | ||||||
| Oracle Corp Japan | 7,593 | 412 | ||||||
| Ricoh Co Ltd | 306,770 | 2,587 | ||||||
| Seiko Epson Corp | 164,379 | 2,027 | ||||||
| Shimadzu Corp | 68,547 | 1,625 | ||||||
| Socionext Inc | 10,300 | 128 | ||||||
| System Support Holdings Inc | 5,600 | 39 | ||||||
| Tazmo Co Ltd | 12,200 | 169 | ||||||
| TDK Corp | 840,796 | 10,896 | ||||||
| TIS Inc | 779 | 17 | ||||||
| Uchida Yoko Co Ltd | 2,000 | 25 | ||||||
| Wacom Co Ltd | 103,300 | 500 | ||||||
| Yokogawa Electric Corp | 64,417 | 1,986 | ||||||
| 103,880 | ||||||||
| Materials — 1.4% | ||||||||
| ADEKA Corp | 58,692 | 1,368 | ||||||
| Asahi Kasei Corp | 107,434 | 1,049 | ||||||
| Daicel Corp | 106,730 | 843 | ||||||
| Daido Steel Co Ltd | 61,415 | 727 | ||||||
| DIC Corp | 47,275 | 1,107 | ||||||
| Ishihara Chemical Co Ltd | 1,400 | 21 | ||||||
| JFE Holdings Inc | 324,175 | 3,786 | ||||||
| Kaneka Corp | 19,651 | 600 | ||||||
| Koatsu Gas Kogyo Co Ltd | 3,400 | 24 | ||||||
| Kobe Steel Ltd | 190,478 | 2,306 | ||||||
| Lintec Corp | 22,184 | 644 | ||||||
| Mitsubishi Chemical Group Corp | 723,933 | 4,222 | ||||||
| Mitsubishi Materials Corp | 24,607 | 774 | ||||||
| Mitsui Chemicals Inc | 173,856 | 2,095 | ||||||
| Mitsui Kinzoku Co Ltd | 9,177 | 1,737 | ||||||
| Nihon Nohyaku Co Ltd | 4,400 | 28 | ||||||
| Nippon Fine Chemical Co Ltd | 1,400 | 22 | ||||||
| Nippon Kayaku Co Ltd | 63,642 | 715 | ||||||
| Nippon Paint Holdings Co Ltd | 13,759 | 86 | ||||||
| Nippon Shokubai Co Ltd | 39,942 | 577 | ||||||
| Nippon Steel Corp | 1,779,760 | 6,547 | ||||||
| Nissan Chemical Corp | 36,769 | 1,426 | ||||||
| Nitto Denko Corp | 181,992 | 3,632 | ||||||
| Oji Holdings Corp | 244,641 | 1,320 | ||||||
| Rengo Co Ltd | 117,447 | 950 | ||||||
| Shin-Etsu Chemical Co Ltd | 21,159 | 859 | ||||||
| Soken Chemical & Engineering Co Ltd | 2,300 | 48 | ||||||
| Taiheiyo Cement Corp | 56,780 | 1,276 | ||||||
| Tokuyama Corp | 33,113 | 802 | ||||||
| Tokyo Ohka Kogyo Co Ltd | 59,335 | 2,897 | ||||||
| Toray Industries Inc | 510,327 | 3,626 | ||||||
| Tosoh Corp | 161,348 | 2,393 | ||||||
| UBE Corp | 53,559 | 838 | ||||||
| Zeon Corp | 79,794 | 907 | ||||||
| 50,252 | ||||||||
| Market Value | ||||||||
| Description | Shares | ($ Thousands) | ||||||
| COMMON STOCK (continued) | ||||||||
| Real Estate — 0.4% | ||||||||
| Daiwa House Industry Co Ltd | 53,446 | $ | 1,672 | |||||
| Hulic Co Ltd | 245,603 | 2,856 | ||||||
| Sumitomo Realty & Development Co Ltd | 328,884 | 9,310 | ||||||
| 13,838 | ||||||||
| Utilities — 0.7% | ||||||||
| Chubu Electric Power Co Inc | 356,042 | 5,856 | ||||||
| Chugoku Electric Power Co Inc/The | 169,056 | 1,075 | ||||||
| Electric Power Development Co Ltd | 73,868 | 2,029 | ||||||
| Hokkaido Electric Power Co Inc | 80,939 | 550 | ||||||
| Hokuriku Electric Power Co | 71,294 | 489 | ||||||
| Kansai Electric Power Co Inc/The | 352,016 | 5,838 | ||||||
| Kyushu Electric Power Co Inc | 215,085 | 2,487 | ||||||
| Osaka Gas Co Ltd | 19,637 | 793 | ||||||
| Shikoku Electric Power Co Inc | 64,374 | 722 | ||||||
| Tohoku Electric Power Co Inc | 278,064 | 2,080 | ||||||
| Tokyo Electric Power Co Holdings Inc * | 627,275 | 2,579 | ||||||
| 24,498 | ||||||||
| Total Japan | 629,355 | |||||||
| Liechtenstein — 0.0% | ||||||||
| Financials — 0.0% | ||||||||
| VP Bank AG, Cl A | 992 | 106 | ||||||
| Luxembourg — 0.8% | ||||||||
| Communication Services — 0.0% | ||||||||
| SES SA, Cl A | 125,450 | 898 | ||||||
| Health Care — 0.2% | ||||||||
| Eurofins Scientific SE | 65,770 | 4,784 | ||||||
| Materials — 0.6% | ||||||||
| ArcelorMittal SA | 419,684 | 21,697 | ||||||
| Total Luxembourg | 27,379 | |||||||
| Macao — 0.4% | ||||||||
| Consumer Discretionary — 0.4% | ||||||||
| Galaxy Entertainment Group Ltd | 2,987,091 | 13,503 | ||||||
| Malaysia — 0.0% | ||||||||
| Industrials — 0.0% | ||||||||
| Frencken Group Ltd | 342,000 | 550 | ||||||
| Netherlands — 5.5% | ||||||||
| Communication Services — 0.4% | ||||||||
| Havas NV | 34,328 | 600 | ||||||
| Universal Music Group NV | 632,118 | 12,231 | ||||||
| 12,831 | ||||||||
| Consumer Discretionary — 0.0% | ||||||||
| Kendrion NV | 2,577 | 51 | ||||||
| 10 | SEI Institutional International Trust |
| Market Value | ||||||||
| Description | Shares | ($ Thousands) | ||||||
| COMMON STOCK (continued) | ||||||||
| Consumer Staples — 0.6% | ||||||||
| Heineken Holding NV | 10,022 | $ | 711 | |||||
| Koninklijke Ahold Delhaize NV | 389,337 | 18,074 | ||||||
| Magnum Ice Cream Co NV/The * | 247,424 | 3,623 | ||||||
| 22,408 | ||||||||
| Energy — 0.1% | ||||||||
| SBM Offshore NV | 86,949 | 3,456 | ||||||
| Financials — 1.8% | ||||||||
| ABN AMRO Bank NV GDR | 279,700 | 8,839 | ||||||
| Euronext NV | 31,143 | 4,985 | ||||||
| HAL Trust | 5,099 | 1,027 | ||||||
| ING Groep NV | 1,347,628 | 34,870 | ||||||
| NN Group NV | 141,855 | 11,043 | ||||||
| Van Lanschot Kempen NV, Cl A | 2,558 | 169 | ||||||
| 60,933 | ||||||||
| Health Care — 0.4% | ||||||||
| Koninklijke Philips NV | 532,270 | 14,513 | ||||||
| Pharming Group NV * | 362,586 | 611 | ||||||
| 15,124 | ||||||||
| Industrials — 0.7% | ||||||||
| Koninklijke BAM Groep SE | 277,451 | 2,801 | ||||||
| Koninklijke Heijmans N.V | 14,471 | 1,293 | ||||||
| Randstad NV | 272,762 | 7,096 | ||||||
| TKH Group NV | 1,655 | 71 | ||||||
| Wolters Kluwer NV | 151,692 | 11,294 | ||||||
| 22,555 | ||||||||
| Information Technology — 1.5% | ||||||||
| ASM International NV | 7,343 | 5,548 | ||||||
| ASML Holding NV | 18,937 | 25,102 | ||||||
| ASML Holding NV, Cl G | 14,131 | 18,665 | ||||||
| BE Semiconductor Industries NV | 13,036 | 2,784 | ||||||
| Nedap NV | 1,390 | 127 | ||||||
| 52,226 | ||||||||
| Materials — 0.0% | ||||||||
| AMG Critical Materials NV | 10,779 | 431 | ||||||
| Corbion NV | 3,635 | 79 | ||||||
| 510 | ||||||||
| Real Estate — 0.0% | ||||||||
| Eurocommercial Properties NV ‡ | 13,830 | 418 | ||||||
| Total Netherlands | 190,512 | |||||||
| New Zealand — 0.2% | ||||||||
| Health Care — 0.2% | ||||||||
| Fisher & Paykel Healthcare Corp Ltd | 244,945 | 5,264 | ||||||
| 5,264 | ||||||||
| Industrials — 0.0% | ||||||||
| Freightways Group Ltd | 8,186 | 56 | ||||||
| Market Value | ||||||||
| Description | Shares | ($ Thousands) | ||||||
| COMMON STOCK (continued) | ||||||||
| Information Technology — 0.0% | ||||||||
| Xero Ltd * | 9,820 | $ | 515 | |||||
| Total New Zealand | 5,835 | |||||||
| Nigeria — 0.1% | ||||||||
| Communication Services — 0.1% | ||||||||
| Airtel Africa PLC | 366,748 | 1,685 | ||||||
| IHS Holding Ltd * | 50,240 | 413 | ||||||
| 2,098 | ||||||||
| Total Nigeria | 2,098 | |||||||
| Norway — 1.8% | ||||||||
| Consumer Discretionary — 0.0% | ||||||||
| Europris ASA | 4,808 | 45 | ||||||
| SATS ASA | 20,925 | 93 | ||||||
| 138 | ||||||||
| Consumer Staples — 0.1% | ||||||||
| Orkla ASA | 331,614 | 4,148 | ||||||
| Energy — 1.3% | ||||||||
| Aker BP ASA | 72,252 | 2,655 | ||||||
| Aker Solutions ASA | 313,569 | 1,492 | ||||||
| BW Offshore Ltd | 22,654 | 121 | ||||||
| Equinor ASA | 931,883 | 39,466 | ||||||
| Frontline PLC | 14,203 | 495 | ||||||
| Solstad Offshore ASA | 11,263 | 79 | ||||||
| Var Energi ASA | 420,254 | 2,151 | ||||||
| 46,459 | ||||||||
| Financials — 0.1% | ||||||||
| DNB Bank ASA | 94,365 | 2,935 | ||||||
| SpareBank 1 Nord Norge | 46,037 | 738 | ||||||
| 3,673 | ||||||||
| Industrials — 0.1% | ||||||||
| 2020 Bulkers Ltd | 3,667 | 52 | ||||||
| AF Gruppen ASA | 3,040 | 53 | ||||||
| Hoegh Autoliners ASA | 100,801 | 1,451 | ||||||
| Moreld AS | 21,970 | 39 | ||||||
| MPC Container Ships ASA | 101,002 | 239 | ||||||
| Wallenius Wilhelmsen ASA, Cl B | 47,753 | 604 | ||||||
| Wilh Wilhelmsen Holding ASA, Cl B | 1,537 | 101 | ||||||
| Zaptec ASA * | 13,417 | 40 | ||||||
| 2,579 | ||||||||
| Information Technology — 0.1% | ||||||||
| Kitron ASA | 204,721 | 1,964 | ||||||
| Smartoptics Group ASA | 26,082 | 117 | ||||||
| 2,081 | ||||||||
| Materials — 0.1% | ||||||||
| Norsk Hydro ASA | 470,809 | 4,988 | ||||||
| Total Norway | 64,066 | |||||||
| SEI Institutional International Trust | 11 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
International Equity Fund (Continued)
| Market Value | ||||||||
| Description | Shares | ($ Thousands) | ||||||
| COMMON STOCK (continued) | ||||||||
| Portugal — 0.4% | ||||||||
| Communication Services — 0.0% | ||||||||
| NOS SGPS SA | 88,798 | $ | 560 | |||||
| Consumer Staples — 0.2% | ||||||||
| Jeronimo Martins SGPS SA | 175,143 | 4,175 | ||||||
| Sonae SGPS SA | 445,165 | 985 | ||||||
| 5,160 | ||||||||
| Energy — 0.1% | ||||||||
| Galp Energia SGPS SA, Cl B | 105,406 | 2,519 | ||||||
| Financials — 0.1% | ||||||||
| Banco Comercial Portugues SA, Cl R | 2,426,315 | 2,356 | ||||||
| Industrials — 0.0% | ||||||||
| CTT-Correios de Portugal SA | 26,131 | 181 | ||||||
| Teixeira Duarte SA * | 592,710 | 287 | ||||||
| 468 | ||||||||
| Utilities — 0.0% | ||||||||
| EDP SA | 84,745 | 447 | ||||||
| REN - Redes Energeticas Nacionais SGPS SA | 146,977 | 633 | ||||||
| 1,080 | ||||||||
| Total Portugal | 12,143 | |||||||
| Singapore — 1.7% | ||||||||
| Communication Services — 0.2% | ||||||||
| IGG Inc | 237,587 | 107 | ||||||
| Singapore Telecommunications Ltd | 1,565,000 | 6,005 | ||||||
| 6,112 | ||||||||
| Consumer Staples — 0.0% | ||||||||
| Sheng Siong Group Ltd | 161,716 | 354 | ||||||
| Energy — 0.0% | ||||||||
| Hafnia Ltd | 39,685 | 305 | ||||||
| Financials — 0.8% | ||||||||
| DBS Group Holdings Ltd | 127,925 | 5,673 | ||||||
| iFAST Corp Ltd | 166,300 | 1,165 | ||||||
| Oversea-Chinese Banking Corp Ltd | 374,765 | 6,397 | ||||||
| Singapore Exchange Ltd | 445,111 | 6,767 | ||||||
| United Overseas Bank Ltd | 260,813 | 7,440 | ||||||
| 27,442 | ||||||||
| Industrials — 0.4% | ||||||||
| BRC Asia Ltd | 7,000 | 25 | ||||||
| ComfortDelGro Corp Ltd | 851,359 | 954 | ||||||
| Hong Leong Asia Ltd | 258,500 | 567 | ||||||
| Keppel Ltd | 26,600 | 244 | ||||||
| Pan-United Corp Ltd | 107,200 | 129 | ||||||
| SIA Engineering Co Ltd | 25,600 | 64 | ||||||
| Singapore Airlines Ltd | 799,362 | 4,108 | ||||||
| Singapore Technologies Engineering Ltd | 877,957 | 7,426 | ||||||
| Market Value | ||||||||
| Description | Shares | ($ Thousands) | ||||||
| COMMON STOCK (continued) | ||||||||
| Wee Hur Holdings Ltd | 510,500 | $ | 259 | |||||
| 13,776 | ||||||||
| Information Technology — 0.2% | ||||||||
| AEM Holdings Ltd * | 84,800 | 279 | ||||||
| Aztech Global Ltd | 53,700 | 33 | ||||||
| CSE Global Ltd | 1,566,600 | 1,460 | ||||||
| UMS Integration Ltd | 627,850 | 758 | ||||||
| Venture Corp Ltd | 358,844 | 4,306 | ||||||
| 6,836 | ||||||||
| Materials — 0.0% | ||||||||
| CNMC Goldmine Holdings Ltd | 435,900 | 505 | ||||||
| Straits Trading Co Ltd/Singapore | 23,100 | 29 | ||||||
| 534 | ||||||||
| Real Estate — 0.1% | ||||||||
| Centurion Corp Ltd | 467,400 | 535 | ||||||
| City Developments Ltd | 213,933 | 1,370 | ||||||
| GuocoLand Ltd | 39,000 | 72 | ||||||
| Ho Bee Land Ltd | 14,900 | 24 | ||||||
| Singapore Land Group Ltd | 6,600 | 18 | ||||||
| UOL Group Ltd | 281,681 | 2,131 | ||||||
| Wing Tai Holdings Ltd | 50,600 | 64 | ||||||
| 4,214 | ||||||||
| Total Singapore | 59,573 | |||||||
| South Africa — 0.1% | ||||||||
| Materials — 0.1% | ||||||||
| Pan African Resources PLC | 1,186,989 | 2,191 | ||||||
| South Korea — 0.2% | ||||||||
| Financials — 0.2% | ||||||||
| Shinhan Financial Group Co Ltd | 119,304 | 7,111 | ||||||
| Spain — 2.6% | ||||||||
| Communication Services — 0.0% | ||||||||
| Telefonica SA | 152,449 | 665 | ||||||
| Consumer Discretionary — 0.4% | ||||||||
| Amadeus IT Group SA, Cl A | 147,019 | 8,380 | ||||||
| Industria de Diseno Textil SA | 89,021 | 5,166 | ||||||
| 13,546 | ||||||||
| Consumer Staples — 0.1% | ||||||||
| Distribuidora Internacional de Alimentacion SA * | 12,644 | 590 | ||||||
| Viscofan SA | 9,194 | 638 | ||||||
| 1,228 | ||||||||
| Energy — 0.6% | ||||||||
| Repsol SA | 703,020 | 19,726 | ||||||
| Tecnicas Reunidas SA * | 27,725 | 989 | ||||||
| 20,715 | ||||||||
| 12 | SEI Institutional International Trust |
| Market Value | ||||||||
| Description | Shares | ($ Thousands) | ||||||
| COMMON STOCK (continued) | ||||||||
| Financials — 0.9% | ||||||||
| Banco Bilbao Vizcaya Argentaria SA | 572,831 | $ | 12,334 | |||||
| Banco Santander SA | 1,138,724 | 12,726 | ||||||
| CaixaBank SA | 404,863 | 4,838 | ||||||
| Mapfre SA | 394,483 | 1,752 | ||||||
| 31,650 | ||||||||
| Industrials — 0.5% | ||||||||
| ACS Actividades de Construccion y Servicios SA | 92,757 | 11,277 | ||||||
| Aena SME SA | 153,168 | 4,517 | ||||||
| Construcciones y Auxiliar de Ferrocarriles SA | 9,376 | 635 | ||||||
| Elecnor SA | 22,272 | 869 | ||||||
| 17,298 | ||||||||
| Information Technology — 0.1% | ||||||||
| Indra Sistemas SA | 40,799 | 2,273 | ||||||
| Utilities — 0.0% | ||||||||
| Enagas SA | 1,661 | 33 | ||||||
| Iberdrola SA | 529 | 12 | ||||||
| Solaria Energia y Medio Ambiente SA * | 42,794 | 1,182 | ||||||
| 1,227 | ||||||||
| Total Spain | 88,602 | |||||||
| Sweden — 2.1% | ||||||||
| Communication Services — 0.1% | ||||||||
| Hemnet Group AB | 18,070 | 205 | ||||||
| Ovzon AB * | 25,068 | 144 | ||||||
| Tele2 AB, Cl B | 32,597 | 671 | ||||||
| Telia Co AB | 147,703 | 752 | ||||||
| 1,772 | ||||||||
| Consumer Discretionary — 0.1% | ||||||||
| Byggmax Group AB | 17,625 | 101 | ||||||
| Clas Ohlson AB, Cl B | 20,799 | 817 | ||||||
| Evolution AB | 16,429 | 1,026 | ||||||
| Rusta AB | 6,360 | 63 | ||||||
| Rvrc Holding AB | 104,086 | 725 | ||||||
| Scandic Hotels Group AB | 85,542 | 767 | ||||||
| 3,499 | ||||||||
| Financials — 0.4% | ||||||||
| Avanza Bank Holding AB | 33,199 | 1,274 | ||||||
| Kinnevik AB * | 5,673 | 30 | ||||||
| Nordnet AB publ | 11,464 | 371 | ||||||
| Skandinaviska Enskilda Banken AB, Cl A | 7,679 | 141 | ||||||
| Swedbank AB, Cl A | 323,834 | 10,969 | ||||||
| 12,785 | ||||||||
| Health Care — 0.0% | ||||||||
| Attendo AB | 64,490 | 690 | ||||||
| BioGaia AB, Cl B | 31,450 | 396 | ||||||
| Cantargia AB * | 183,219 | 79 | ||||||
| 1,165 | ||||||||
| Market Value | ||||||||
| Description | Shares | ($ Thousands) | ||||||
| COMMON STOCK (continued) | ||||||||
| Industrials — 0.8% | ||||||||
| Assa Abloy AB, Cl B | 52,526 | $ | 1,887 | |||||
| Atlas Copco AB, Cl A | 181,098 | 3,176 | ||||||
| Atlas Copco AB, Cl B | 340,866 | 5,295 | ||||||
| Loomis AB, Cl B | 32,650 | 1,482 | ||||||
| NCC AB, Cl B | 47,208 | 1,033 | ||||||
| Peab AB, Cl B | 177,309 | 1,801 | ||||||
| Saab AB, Cl B | 30,949 | 2,013 | ||||||
| Sandvik AB | 266,534 | 10,182 | ||||||
| Svedbergs Group AB | 4,385 | 31 | ||||||
| 26,900 | ||||||||
| Information Technology — 0.4% | ||||||||
| Hanza AB | 8,960 | 139 | ||||||
| Mycronic AB | 52,442 | 1,225 | ||||||
| Telefonaktiebolaget LM Ericsson ADR | 786,184 | 8,860 | ||||||
| Telefonaktiebolaget LM Ericsson, Cl B | 389,358 | 4,411 | ||||||
| 14,635 | ||||||||
| Materials — 0.3% | ||||||||
| Boliden AB * | 161,980 | 8,438 | ||||||
| SSAB AB, Cl B | 316,407 | 2,479 | ||||||
| 10,917 | ||||||||
| Total Sweden | 71,673 | |||||||
| Switzerland — 4.3% | ||||||||
| Consumer Discretionary — 0.4% | ||||||||
| Autoneum Holding AG | 857 | 124 | ||||||
| Avolta AG | 31,491 | 1,879 | ||||||
| Cie Financiere Richemont SA, Cl A | 58,146 | 10,216 | ||||||
| Swatch Group AG/The | 3,146 | 691 | ||||||
| 12,910 | ||||||||
| Consumer Staples — 0.0% | ||||||||
| Chocoladefabriken Lindt & Spruengli AG | 3 | 42 | ||||||
| Energy — 0.0% | ||||||||
| TORM PLC, Cl A | 19,762 | 551 | ||||||
| Financials — 1.1% | ||||||||
| Basler Kantonalbank | 592 | 77 | ||||||
| Helvetia Baloise Holding AG | 279 | 72 | ||||||
| Julius Baer Group Ltd | 194,010 | 14,200 | ||||||
| Partners Group Holding AG | 5,200 | 5,577 | ||||||
| UBS Group AG | 387,965 | 15,054 | ||||||
| Vontobel Holding AG | 15,382 | 1,325 | ||||||
| Zurich Insurance Group AG | 1,322 | 930 | ||||||
| 37,235 | ||||||||
| Health Care — 0.7% | ||||||||
| Galderma Group AG | 33,207 | 6,494 | ||||||
| Galenica AG | 25,340 | 2,871 | ||||||
| Sandoz Group AG | 129,753 | 10,116 | ||||||
| Sonova Holding AG | 11,379 | 2,582 | ||||||
| SEI Institutional International Trust | 13 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
International Equity Fund (Continued)
| Market Value | ||||||||
| Description | Shares | ($ Thousands) | ||||||
| COMMON STOCK (continued) | ||||||||
| Straumann Holding AG | 37,635 | $ | 3,918 | |||||
| 25,981 | ||||||||
| Industrials — 1.3% | ||||||||
| ABB Ltd | 215,587 | 17,443 | ||||||
| Accelleron Industries AG | 28,076 | 2,525 | ||||||
| Adecco Group AG | 96,860 | 2,318 | ||||||
| Belimo Holding AG | 6 | 5 | ||||||
| Bucher Industries AG | 3,634 | 1,594 | ||||||
| Burckhardt Compression Holding AG | 1,187 | 707 | ||||||
| Burkhalter Holding AG | 239 | 48 | ||||||
| DKSH Holding AG | 14,332 | 1,049 | ||||||
| dormakaba Holding AG | 32,623 | 2,087 | ||||||
| Geberit AG | 4,892 | 3,286 | ||||||
| Huber + Suhner AG | 7,487 | 1,664 | ||||||
| Implenia AG | 14,588 | 1,144 | ||||||
| Kardex Holding AG | 1,077 | 322 | ||||||
| Phoenix Mecano AG | 51 | 27 | ||||||
| Schindler Holding AG | 24,328 | 7,960 | ||||||
| SGS SA | 34,109 | 3,577 | ||||||
| 45,756 | ||||||||
| Information Technology — 0.6% | ||||||||
| Inficon Holding AG | 4,828 | 608 | ||||||
| Logitech International SA | 174,794 | 16,152 | ||||||
| Temenos AG | 31,398 | 2,739 | ||||||
| 19,499 | ||||||||
| Materials — 0.2% | ||||||||
| Clariant AG | 15,972 | 156 | ||||||
| EMS-Chemie Holding AG | 2,081 | 1,628 | ||||||
| Givaudan SA | 286 | 962 | ||||||
| Sika AG | 19,888 | 3,276 | ||||||
| 6,022 | ||||||||
| Real Estate — 0.0% | ||||||||
| Investis Holding SA | 203 | 39 | ||||||
| Total Switzerland | 148,035 | |||||||
| Thailand — 0.1% | ||||||||
| Financials — 0.1% | ||||||||
| Bangkok Bank PCL NVDR | 917,200 | 4,675 | ||||||
| Turkey — 0.0% | ||||||||
| Materials — 0.0% | ||||||||
| Eldorado Gold Corp | 2,900 | 99 | ||||||
| United Kingdom — 12.6% | ||||||||
| Communication Services — 0.5% | ||||||||
| Autotrader Group PLC | 261,275 | 1,629 | ||||||
| BT Group PLC, Cl A | 98,508 | 275 | ||||||
| Gaming Realms PLC * | 118,916 | 49 | ||||||
| Gamma Communications PLC | 27,705 | 261 | ||||||
| MONY Group PLC | 137,338 | 274 | ||||||
| Rightmove PLC | 816,435 | 4,654 | ||||||
| Market Value | ||||||||
| Description | Shares | ($ Thousands) | ||||||
| COMMON STOCK (continued) | ||||||||
| Vodafone Group PLC | 6,175,259 | $ | 9,280 | |||||
| 16,422 | ||||||||
| Consumer Discretionary — 1.2% | ||||||||
| Berkeley Group Holdings PLC | 54,585 | 2,491 | ||||||
| Carnival PLC ADR | 43,835 | 1,130 | ||||||
| Compass Group PLC | 233,953 | 6,503 | ||||||
| Dunelm Group PLC | 41,066 | 425 | ||||||
| Games Workshop Group PLC | 48,542 | 11,433 | ||||||
| Inchcape PLC | 138,336 | 1,368 | ||||||
| JD Sports Fashion PLC | 13,947 | 13 | ||||||
| Kingfisher PLC | 895,318 | 3,392 | ||||||
| Next PLC | 73,825 | 12,426 | ||||||
| Pearson PLC | 15,097 | 198 | ||||||
| Playtech Plc | 130,084 | 577 | ||||||
| 39,956 | ||||||||
| Consumer Staples — 2.5% | ||||||||
| British American Tobacco PLC | 56,882 | 3,290 | ||||||
| Coca-Cola Europacific Partners PLC | 18,985 | 1,721 | ||||||
| Cranswick PLC | 25,810 | 1,780 | ||||||
| Diageo PLC | 361,067 | 6,690 | ||||||
| Imperial Brands PLC | 94,044 | 3,799 | ||||||
| J Sainsbury PLC | 4,671,571 | 20,955 | ||||||
| Marks & Spencer Group PLC | 1,127,681 | 5,062 | ||||||
| Premier Foods PLC | 342,179 | 834 | ||||||
| Reckitt Benckiser Group PLC | 290,758 | 19,478 | ||||||
| Tesco PLC | 2,286,491 | 14,318 | ||||||
| Unilever PLC | 140,438 | 7,682 | ||||||
| 85,609 | ||||||||
| Energy — 0.3% | ||||||||
| BP PLC ADR | 218,440 | 10,267 | ||||||
| Petronor E&P ASA | 25,623 | 35 | ||||||
| 10,302 | ||||||||
| Financials — 4.0% | ||||||||
| AJ Bell PLC | 55,597 | 344 | ||||||
| Barclays PLC ADR | 360,364 | 7,625 | ||||||
| Barclays PLC | 4,462,223 | 23,267 | ||||||
| HSBC Holdings PLC | 2,682,204 | 43,886 | ||||||
| Investec PLC | 952,560 | 7,249 | ||||||
| Lancashire Holdings Ltd | 89,900 | 696 | ||||||
| Lloyds Banking Group PLC | 558,529 | 690 | ||||||
| London Stock Exchange Group PLC | 127,609 | 15,013 | ||||||
| Man Group PLC/Jersey | 558,647 | 1,874 | ||||||
| NatWest Group PLC | 1,960,382 | 14,469 | ||||||
| Ninety One PLC | 192,875 | 580 | ||||||
| OSB Group PLC | 205,940 | 1,427 | ||||||
| Paragon Banking Group PLC | 105,932 | 1,012 | ||||||
| Standard Chartered PLC | 1,023,584 | 21,252 | ||||||
| 139,384 | ||||||||
| Health Care — 1.1% | ||||||||
| AstraZeneca PLC | 101,454 | 19,765 | ||||||
| 14 | SEI Institutional International Trust |
| Market Value | ||||||||
| Description | Shares | ($ Thousands) | ||||||
| COMMON STOCK (continued) | ||||||||
| Convatec Group PLC | 1,898,928 | $ | 5,457 | |||||
| GSK PLC ADR | 200,245 | 11,052 | ||||||
| Hikma Pharmaceuticals PLC | 84,267 | 1,410 | ||||||
| 37,684 | ||||||||
| Industrials — 2.0% | ||||||||
| Babcock International Group PLC | 65,694 | 1,016 | ||||||
| Balfour Beatty PLC | 551,127 | 5,559 | ||||||
| CK Hutchison Holdings Ltd | 944,649 | 7,252 | ||||||
| Clarkson PLC | 25,615 | 1,570 | ||||||
| easyJet PLC | 139,876 | 648 | ||||||
| Firstgroup PLC | 335,707 | 736 | ||||||
| Grafton Group PLC | 66,236 | 789 | ||||||
| Howden Joinery Group PLC | 821,922 | 8,673 | ||||||
| IMI PLC | 69,042 | 2,340 | ||||||
| International Consolidated Airlines Group SA | 1,363,830 | 6,453 | ||||||
| JET2 PLC | 88,036 | 1,307 | ||||||
| Kier Group PLC | 232,970 | 596 | ||||||
| Morgan Sindall Group PLC | 45,838 | 2,500 | ||||||
| RELX PLC | 419,348 | 13,707 | ||||||
| Rentokil Initial PLC | 712,708 | 4,407 | ||||||
| Rolls-Royce Holdings PLC | 392,370 | 5,939 | ||||||
| Rotork PLC | 240,006 | 994 | ||||||
| Serco Group PLC | 517,528 | 1,945 | ||||||
| Travis Perkins PLC | 346,706 | 2,605 | ||||||
| Vesuvius PLC | 96,921 | 511 | ||||||
| Weir Group PLC/The | 18,811 | 703 | ||||||
| Zigup PLC | 95,626 | 482 | ||||||
| 70,732 | ||||||||
| Information Technology — 0.4% | ||||||||
| Computacenter PLC | 71,283 | 2,847 | ||||||
| dotdigital group plc | 25,376 | 16 | ||||||
| Halma PLC | 163,679 | 8,322 | ||||||
| Sage Group PLC/The | 280,819 | 3,135 | ||||||
| Softcat PLC | 40,182 | 654 | ||||||
| 14,974 | ||||||||
| Materials — 0.0% | ||||||||
| Hill & Smith PLC | 44,662 | 1,247 | ||||||
| Real Estate — 0.1% | ||||||||
| Land Securities Group PLC ‡ | 397,678 | 2,922 | ||||||
| Safestore Holdings PLC ‡ | 1,409 | 12 | ||||||
| 2,934 | ||||||||
| Utilities — 0.5% | ||||||||
| Centrica PLC | 2,587,974 | 7,300 | ||||||
| Drax Group PLC | 197,622 | 2,327 | ||||||
| United Utilities Group PLC | 429,953 | 7,469 | ||||||
| 17,096 | ||||||||
| Total United Kingdom | 436,340 | |||||||
| Market Value | ||||||||
| Description | Shares | ($ Thousands) | ||||||
| COMMON STOCK (continued) | ||||||||
| United States — 8.2% | ||||||||
| Consumer Discretionary — 0.1% | ||||||||
| InterContinental Hotels Group PLC | 24,398 | $ | 3,218 | |||||
| Consumer Staples — 0.2% | ||||||||
| Nestle SA | 75,805 | 7,399 | ||||||
| Energy — 0.9% | ||||||||
| Shell PLC | 552,732 | 25,688 | ||||||
| Tenaris SA | 153,813 | 4,482 | ||||||
| 30,170 | ||||||||
| Financials — 0.4% | ||||||||
| Aegon Ltd | 663,839 | 4,840 | ||||||
| Bangkok Bank PCL ADR | 13,565 | 359 | ||||||
| Swiss Re AG | 54,273 | 9,072 | ||||||
| 14,271 | ||||||||
| Health Care — 5.3% | ||||||||
| AstraZeneca PLC | 41,702 | 8,225 | ||||||
| GSK PLC | 1,336,974 | 36,691 | ||||||
| Inmode Ltd * | 45,384 | 621 | ||||||
| Medtronic PLC | 79,873 | 6,921 | ||||||
| Novartis AG | 381,558 | 58,279 | ||||||
| Roche Holding AG | 120,433 | 47,827 | ||||||
| Sanofi SA | 281,022 | 27,053 | ||||||
| 185,617 | ||||||||
| Industrials — 0.7% | ||||||||
| AP Moller - Maersk A/S, Cl A | 1,544 | 3,769 | ||||||
| AP Moller - Maersk A/S, Cl B | 3,189 | 7,941 | ||||||
| Experian PLC | 323,953 | 11,165 | ||||||
| Signify NV | 63,064 | 1,339 | ||||||
| 24,214 | ||||||||
| Information Technology — 0.4% | ||||||||
| Accenture PLC, Cl A | 64,807 | 12,851 | ||||||
| Monday.com Ltd * | 20 | 1 | ||||||
| 12,852 | ||||||||
| Materials — 0.2% | ||||||||
| Holcim AG | 71,688 | 5,897 | ||||||
| Sims Ltd | 1,769 | 22 | ||||||
| 5,919 | ||||||||
| Total United States | 283,660 | |||||||
| Zambia — 0.0% | ||||||||
| Materials — 0.0% | ||||||||
| First Quantum Minerals Ltd * | 7,000 | 167 | ||||||
| Total Common Stock | ||||||||
| (Cost $2,622,699) ($ Thousands) | 3,266,965 | |||||||
| SEI Institutional International Trust | 15 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
International Equity Fund (Continued)
| Face Amount | Market Value | |||||||
| Description | (Thousands) | ($ Thousands) | ||||||
| U.S. TREASURY OBLIGATION — 2.5% | ||||||||
| U.S. Treasury Bill | ||||||||
| 3.585%, 08/27/2026 (B) | $ | 87,562 | $ | 86,267 | ||||
| Total U.S. Treasury Obligation | ||||||||
| (Cost $86,294) ($ Thousands) | 86,267 | |||||||
| Shares | ||||||||
| PREFERRED STOCK — 0.7% | ||||||||
| Germany — 0.5% | ||||||||
| Consumer Discretionary — 0.4% | ||||||||
| Bayerische Motoren Werke AG (C) | 28,401 | 2,606 | ||||||
| Dr Ing hc F Porsche AG (C) | 61,168 | 2,778 | ||||||
| Volkswagen AG, 7.200% | 74,358 | 7,582 | ||||||
| 12,966 | ||||||||
| Consumer Staples — 0.1% | ||||||||
| Henkel AG & Co KGaA(C) | 27,571 | 2,123 | ||||||
| Industrials — 0.0% | ||||||||
| Jungheinrich AG (C) | 34,457 | 1,056 | ||||||
| KSB SE & Co KGaA(C) | 26 | 28 | ||||||
| 1,084 | ||||||||
| Materials — 0.0% | ||||||||
| FUCHS SE, 2.800% | 3,992 | 170 | ||||||
| Total Germany | 16,343 | |||||||
| South Korea — 0.2% | ||||||||
| Information Technology — 0.2% | ||||||||
| Samsung Electronics Co Ltd(C) | 79,074 | 6,383 | ||||||
| Total Preferred Stock | ||||||||
| (Cost $22,787) ($ Thousands) | 22,726 | |||||||
| CASH EQUIVALENT — 0.7% | ||||||||
| SEI Daily Income Trust, Government Fund, Institutional Class | ||||||||
| 3.540%**† | 26,018,985 | 26,019 | ||||||
| Total Cash Equivalent | ||||||||
| (Cost $26,019) ($ Thousands) | 26,019 | |||||||
| Total Investments in Securities — 98.0% | ||||||||
| (Cost $2,757,799) ($ Thousands) | $ | 3,401,977 | ||||||
| 16 | SEI Institutional International Trust |
A list of the open futures contracts held by the Fund at March 31, 2026, is as follows:
| Type of Contract | Number of Contracts | Expiration Date | Notional Amount (Thousands) | Value (Thousands) | Unrealized Depreciation(Thousands) | ||||||||||||
| Long Contracts | |||||||||||||||||
| Euro STOXX 50 | 158 | Jun-2026 | $ | 10,314 | $ | 10,004 | $ | (343 | ) | ||||||||
| FTSE 100 Index | 50 | Jun-2026 | 6,879 | 6,725 | (97 | ) | |||||||||||
| Hang Seng Index | 5 | Apr-2026 | 801 | 789 | (11 | ) | |||||||||||
| SPI 200 Index | 22 | Jun-2026 | 3,382 | 3,207 | (60 | ) | |||||||||||
| TOPIX Index | 34 | Jun-2026 | 7,806 | 7,488 | (252 | ) | |||||||||||
| $ | 29,182 | $ | 28,213 | $ | (763 | ) | |||||||||||
A list of the open OTC Swap agreement held by the Fund at March 31, 2026, is as follows:
Total Return Swap
| Counterparty | Reference Entity/Obligation | Fund Pays | Fund Receives | Payment Frequency | Termination Date | Currency | Notional Amount (Thousands) | Value (Thousands) | Upfront Payments/Receipts (Thousands) | Net Unrealized Appreciation (Depreciation) (Thousands) | |||||||||||||||||
| Bank of America | Custom Basket of International Equity Securities | Federal Funds Effective Rate (Daily) + custom spread | Asset Returns | Annually | 12/15/2029 | USD | – | $ | (1,768 | ) | $ | – | $ | (1,768 | ) | ||||||||||||
The following table represents the top 50 individual stock exposures comprising the Custom Basket Total Return Swap as of March 31, 2026:
United States Custom Basket of Long Securities
| Shares | Description | Notional Amount (Thousands) | Value (Thousands) | Percentage of Basket | ||||||||||||
| 1,010,120 | CAIXABANK S.A. SHS | $ | 11,495 | $ | 459 | 11.3 | % | |||||||||
| 461,443 | BANCO BILBAO VIZCAYA ARGENTARIA SA REGISTERED SHS | 9,669 | 46 | 9.5 | ||||||||||||
| 52,943 | IPSEN ACT | 9,352 | 445 | 9.2 | ||||||||||||
| 829,698 | BANCO SANTANDER SA REGISTERED SHS | 9,223 | (140 | ) | 9.1 | |||||||||||
| 419,829 | STANDARD CHARTERED PLC REGISTERED SHS | 8,955 | (27 | ) | 8.8 | |||||||||||
| 86,921 | BNP PARIBAS SA ACT | 8,593 | (473 | ) | 8.5 | |||||||||||
| 1,054,323 | NATWEST GROUP PLC REGISTERED SHS | 8,064 | (37 | ) | 7.9 | |||||||||||
| 104,342 | SOCIETE GENERALE SA ACT | 7,894 | (457 | ) | 7.8 | |||||||||||
| 24,743 | TOKYO ELECTRON LTD. | 6,196 | (356 | ) | 6.1 | |||||||||||
| 357,400 | ASTELLAS PHARMA INC. | 5,342 | 401 | 5.3 | ||||||||||||
| 183,248 | REPSOL S.A. BEARER SHS | 4,911 | 302 | 4.8 | ||||||||||||
| 284,300 | MITSUBISHI UFJ FINANCIAL GROUP INC. | 4,753 | (41 | ) | 4.7 | |||||||||||
| 546,600 | ENEOS HOLDINGS INC. | 4,693 | 209 | 4.6 | ||||||||||||
| 95,091 | FRESNILLO PLC REGISTERED SHS | 4,608 | (483 | ) | 4.5 | |||||||||||
| 52,930 | TOTALENERGIES SE ACT | 4,591 | 396 | 4.5 | ||||||||||||
| 12,332 | SAFRAN SA ACT | 4,378 | (404 | ) | 4.3 | |||||||||||
| 24,300 | HOYA CORP. | 4,241 | (165 | ) | 4.2 | |||||||||||
| 34,596 | ACS ACTIVIDADES DE CONSTRUCCION Y SERVICIOS SA BE | 4,198 | (15 | ) | 4.1 | |||||||||||
| 128,300 | SUMITOMO MITSUI FINANCIAL GROUP INC. | 4,173 | (76 | ) | 4.1 | |||||||||||
| 22,006 | AURUBIS AG INHABER | 4,110 | (302 | ) | 4.1 | |||||||||||
| 222,570 | HSBC HOLDINGS PLC REGISTERED SHS | 3,577 | 74 | 3.5 | ||||||||||||
| 86,908 | RECRUIT HOLDINGS CO. LTD. | 3,569 | 4 | 3.5 | ||||||||||||
| 122,511 | BIPROGY INC. | 3,552 | 58 | 3.5 | ||||||||||||
| 150,431 | E.ON SE NAMEN | 3,454 | (162 | ) | 3.4 | |||||||||||
| 152,964 | FUJITSU LTD. | 3,416 | (347 | ) | 3.4 | |||||||||||
| 112,177 | EISAI CO. LTD. | 3,400 | 89 | 3.4 | ||||||||||||
| 84,800 | ENDESA SA BEARER SHS | 3,396 | 133 | 3.3 | ||||||||||||
| 1,201,127 | CENTRICA PLC REGISTERED SHS | 3,316 | 56 | 3.3 | ||||||||||||
| 179,600 | JAPAN POST BANK CO. LTD. | 3,007 | (92 | ) | 3.0 | |||||||||||
| 631,771 | AIRTEL AFRICA PLC REGISTERED SHS | 2,940 | 20 | 2.9 | ||||||||||||
| 87,700 | MITSUBISHI CORP. | 2,931 | 31 | 2.9 | ||||||||||||
| 63,742 | BAYER AG NAMEN | 2,874 | 22 | 2.8 | ||||||||||||
| SEI Institutional International Trust | 17 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
International Equity Fund (Continued)
| Shares | Description | Notional Amount (Thousands) | Value (Thousands) | Percentage of Basket | ||||||||||||
| 49,022 | BOUYGUES ACT | $ | 2,800 | $ | (6 | ) | 2.8 | % | ||||||||
| 221,439 | VALEO SE ACT | 2,663 | (24 | ) | 2.6 | |||||||||||
| 197,100 | ITOCHU CORP. | 2,557 | (84 | ) | 2.5 | |||||||||||
| 72,950 | TECNICAS REUNIDAS SA BEARER SHS | 2,537 | (45 | ) | 2.5 | |||||||||||
| 53,019 | SHELL PLC REGISTERED SHS | 2,362 | 146 | 2.3 | ||||||||||||
| 69,512 | TREND MICRO INC. | 2,345 | 18 | 2.3 | ||||||||||||
| 41,305 | PLUS500 LTD REGISTERED SHS | 2,287 | (15 | ) | 2.3 | |||||||||||
| 14,247 | EIFFAGE SA ACT | 2,215 | (59 | ) | 2.2 | |||||||||||
| 5,300 | FAST RETAILING CO. LTD. | 2,177 | (115 | ) | 2.1 | |||||||||||
| 4,800 | DISCO CORP. | 2,154 | (298 | ) | 2.1 | |||||||||||
| 88,100 | MURATA MANUFACTURING CO. LTD. | 2,065 | (161 | ) | 2.0 | |||||||||||
| 50,700 | TOYOTA TSUSHO CORP. | 2,029 | (115 | ) | 2.0 | |||||||||||
| 129,205 | BANKINTER SA BEARER SHS | 1,967 | 46 | 1.9 | ||||||||||||
| 4,838 | DASSAULT AVIATION SA ACT | 1,943 | (162 | ) | 1.9 | |||||||||||
| 32,242 | SCREEN HOLDINGS CO. LTD. | 1,939 | (112 | ) | 1.9 | |||||||||||
| 53,200 | SUMITOMO CORP. | 1,916 | 40 | 1.9 | ||||||||||||
| 168,099 | JAPAN POST HOLDINGS CO. LTD. | 1,912 | 4 | 1.9 | ||||||||||||
| 53,200 | YOKOGAWA ELECTRIC CORP. | 1,893 | (292 | ) | 1.9 | |||||||||||
| 249,766 | MAZDA MOTOR CORP. | 1,858 | (211 | ) | 1.8 | |||||||||||
| 137,408 | SANKYO CO. LTD. | 1,805 | (93 | ) | 1.8 | |||||||||||
| 114,600 | AISIN CORP. | 1,746 | (161 | ) | 1.7 | |||||||||||
| 32,063 | FRESENIUS SE & CO. KGAA INHABER | 1,715 | (76 | ) | 1.7 | |||||||||||
| 190,380 | DAIICHI LIFE GROUP INC | 1,713 | 19 | 1.7 | ||||||||||||
| 76,900 | CANON MARKETING JAPAN INC. | 1,677 | 27 | 1.7 | ||||||||||||
| 344,095 | INTERNATIONAL CONSOLIDATED AIRLINES GROUP SA REGIS | 1,659 | (69 | ) | 1.6 | |||||||||||
| 89,400 | DAIICHI SANKYO CO. LTD. | 1,640 | (65 | ) | 1.6 | |||||||||||
| 167,055 | JAPAN POST INSURANCE CO. LTD. | 1,617 | 58 | 1.6 | ||||||||||||
| 26,100 | SUNCOR ENERGY INC REGISTERED SHS | 1,616 | 107 | 1.6 | ||||||||||||
| 42,800 | TOKIO MARINE HOLDINGS INC. | 1,585 | 409 | 1.6 | ||||||||||||
| 172,694 | RICOH CO. LTD. | 1,474 | (27 | ) | 1.5 | |||||||||||
| 52,688 | BAVARIAN NORDIC AS BEARER AND/OR REGISTERED SHS | 1,443 | 123 | 1.4 | ||||||||||||
| 6,200 | LASERTEC CORP. | 1,420 | (131 | ) | 1.4 | |||||||||||
| 172,293 | NOKIA CORP SHS SPONSORED AMERICAN DEPOSITARY RECEI | 1,420 | (69 | ) | 1.4 | |||||||||||
| 14,495 | TEMENOS AG NAMEN | 1,397 | (151 | ) | 1.4 | |||||||||||
| 51,415 | NEC CORP. | 1,363 | (117 | ) | 1.3 | |||||||||||
| 21,300 | LINAMAR CORP REGISTERED SHS | 1,351 | (30 | ) | 1.3 | |||||||||||
| 12,200 | TAISEI CORP. | 1,338 | (94 | ) | 1.3 | |||||||||||
| 62,190 | TIS INC. | 1,315 | 13 | 1.3 | ||||||||||||
| 66,708 | TECHNOGYM S.P.A. REGISTERED SHS | 1,280 | 55 | 1.3 | ||||||||||||
| 134,700 | IDEMITSU KOSAN CO. LTD. | 1,249 | 71 | 1.2 | ||||||||||||
| 33,821 | TECHNIP ENERGIES N.V. BEARER AND REGISTERED SHS | 1,242 | 186 | 1.2 | ||||||||||||
| 55,400 | SHIONOGI & CO. LTD. | 1,188 | 31 | 1.2 | ||||||||||||
| 144,525 | D'AMICO INTERNATIONAL SHIPPING SA BEARER SHS | 1,172 | 75 | 1.2 | ||||||||||||
| 20,321 | YAMAICHI ELECTRONICS CO. LTD. | 1,153 | (199 | ) | 1.1 | |||||||||||
| 83,000 | TDK CORP. | 1,138 | (103 | ) | 1.1 | |||||||||||
| 58,900 | ANRITSU CORP. | 1,065 | (44 | ) | 1.0 | |||||||||||
| 7,500 | KIOXIA HOLDINGS CORP. | 1,004 | (47 | ) | 1.0 | |||||||||||
| 59,292 | MIXI INC. | 993 | (27 | ) | 1.0 | |||||||||||
| 17,400 | GROUPE DYNAMITE INC REGISTERED SHS SUBORDINATE VOT | 991 | (35 | ) | 1.0 | |||||||||||
| 28,464 | NIPPON SHINYAKU CO. LTD. | 970 | (45 | ) | 1.0 | |||||||||||
United States Custom Basket of Short Securities
| Shares | Description | Notional Amount (Thousands) | Value (Thousands) | Percentage of Basket | ||||||||||||
| (121,014 | ) | SALMAR ASA REGISTERED SHS | $ | (7,267 | ) | $ | 203 | (7.2 | )% | |||||||
| (61,056 | ) | IMCD N.V. REGISTERED SHS | (5,275 | ) | (1,033 | ) | (5.2 | ) | ||||||||
| (119,114 | ) | DR. ING. H.C. F. PORSCHE AKTIENGESELLSCHAFT VORZ | (5,203 | ) | (123 | ) | (5.1 | ) | ||||||||
| (133,329 | ) | BIRKENSTOCK HOLDING LIMITED REGISTERED SHS | (4,976 | ) | 206 | (4.9 | ) | |||||||||
| (395,438 | ) | CVC CAPITAL PARTNERS PLC REGISTERED SHS | (4,930 | ) | (158 | ) | (4.9 | ) | ||||||||
| (343,604 | ) | VERISURE PLC REGISTERED SHS | (3,454 | ) | (76 | ) | (3.4 | ) | ||||||||
| (180,235 | ) | AUTO1 GROUP SE INHABER | (3,420 | ) | 304 | (3.4 | ) | |||||||||
| 18 | SEI Institutional International Trust |
| Shares | Description | Notional Amount (Thousands) | Value (Thousands) | Percentage of Basket | ||||||||||||
| (71,309 | ) | BAKKAFROST P/F REGISTERED SHS | $ | (3,320 | ) | $ | (11 | ) | (3.3 | )% | ||||||
| (41,075 | ) | EXOR N.V. REGISTERED SHS | (3,316 | ) | 205 | (3.3 | ) | |||||||||
| (339,312 | ) | AZELIS GROUP N.V. SHS | (3,050 | ) | (349 | ) | (3.0 | ) | ||||||||
| (99,148 | ) | EQT AB REGISTERED SHS | (2,892 | ) | (104 | ) | (2.9 | ) | ||||||||
| (467,235 | ) | INTESA SANPAOLO SPA AZ NOM | (2,808 | ) | 25 | (2.8 | ) | |||||||||
| (62,060 | ) | REMY COINTREAU SA ACT | (2,600 | ) | (34 | ) | (2.6 | ) | ||||||||
| (2,497 | ) | PARTNERS GROUP HOLDING AG NAMEN | (2,569 | ) | (95 | ) | (2.5 | ) | ||||||||
| (67,100 | ) | RAKUTEN BANK LTD. | (2,557 | ) | 165 | (2.5 | ) | |||||||||
| (358,044 | ) | STELLANTIS N.V. BEARER AND REGISTERED SHS | (2,402 | ) | (102 | ) | (2.4 | ) | ||||||||
| (48,248 | ) | REDCARE PHARMACY N.V. BEARER SHS | (2,320 | ) | 242 | (2.3 | ) | |||||||||
| (23,790 | ) | HENSOLDT AG INHABER | (2,155 | ) | 79 | (2.1 | ) | |||||||||
| (111,391 | ) | AB SAGAX REGISTERED SHS | (2,093 | ) | 49 | (2.1 | ) | |||||||||
| (61,916 | ) | ARCADIS NV BEARER AND/OR REGISTERED SHS | (2,068 | ) | 122 | (2.0 | ) | |||||||||
| (212,151 | ) | NOBA BANK GROUP AB REGISTERED SHS | (2,006 | ) | 185 | (2.0 | ) | |||||||||
| (34,200 | ) | LA HOLDINGS CO. LTD. | (1,989 | ) | 73 | (2.0 | ) | |||||||||
| (679,351 | ) | TREASURY WINE ESTATES LTD REGISTERED SHS | (1,954 | ) | 218 | (1.9 | ) | |||||||||
| (170,062 | ) | SHAPIR ENGINEERING AND INDUSTRY LTD REGISTERED SHS | (1,836 | ) | (184 | ) | (1.8 | ) | ||||||||
| (361,979 | ) | ASHTEAD TECHNOLOGY HOLDINGS PLC REGISTERED SHS | (1,805 | ) | (196 | ) | (1.8 | ) | ||||||||
| (71,188 | ) | PUMA SE INHABER | (1,784 | ) | 0 | (1.8 | ) | |||||||||
| (273,200 | ) | INTERFOR CORP REGISTERED SHS | (1,762 | ) | (228 | ) | (1.7 | ) | ||||||||
| (71,600 | ) | JMDC INC. | (1,644 | ) | 178 | (1.6 | ) | |||||||||
| (83,185 | ) | XVIVO PERFUSION AB REGISTERED SHS | (1,606 | ) | (405 | ) | (1.6 | ) | ||||||||
| (596,563 | ) | REZOLVE AI PLC REGISTERED SHS | (1,605 | ) | 78 | (1.6 | ) | |||||||||
| (51,586 | ) | RANDSTAD N.V. BEARER SHS | (1,554 | ) | 164 | (1.5 | ) | |||||||||
| (203,902 | ) | HBX GROUP INTERNATIONAL PLC REGISTERED SHS | (1,520 | ) | 10 | (1.5 | ) | |||||||||
| (28,811 | ) | SEB SA ACT | (1,513 | ) | 79 | (1.5 | ) | |||||||||
| (119,901 | ) | PLUXEE N.V. SHS | (1,456 | ) | 2 | (1.4 | ) | |||||||||
| (25,547 | ) | BRENNTAG SE NAMEN | (1,445 | ) | (253 | ) | (1.4 | ) | ||||||||
| (67,800 | ) | MONEY FORWARD INC. | (1,407 | ) | (75 | ) | (1.4 | ) | ||||||||
| (65,061 | ) | GERRESHEIMER AG INHABER | (1,385 | ) | (90 | ) | (1.4 | ) | ||||||||
| (117,900 | ) | MONOTARO CO. LTD. | (1,381 | ) | 98 | (1.4 | ) | |||||||||
| (22,700 | ) | ZENSHO HOLDINGS CO. LTD. | (1,380 | ) | 71 | (1.4 | ) | |||||||||
| (20,303 | ) | SOITEC SA ACT PORTEUR/NOM | (1,348 | ) | 138 | (1.3 | ) | |||||||||
| (591,175 | ) | IPH LTD REGISTERED SHS | (1,346 | ) | (122 | ) | (1.3 | ) | ||||||||
| (194,143 | ) | PAYSAFE LTD REGISTERED SHS | (1,343 | ) | 23 | (1.3 | ) | |||||||||
| (220,793 | ) | DOCMORRIS AG NAMEN | (1,335 | ) | 4 | (1.3 | ) | |||||||||
| (147,029 | ) | NEXTDC LTD REGISTERED SHS | (1,333 | ) | 187 | (1.3 | ) | |||||||||
| (9,600 | ) | NITTO BOSEKI CO. LTD. | (1,312 | ) | 176 | (1.3 | ) | |||||||||
| (240,724 | ) | A2Z CUST2MATE SOLUTIONS CORP REGISTERED SHS | (1,281 | ) | (324 | ) | (1.3 | ) | ||||||||
| (356,300 | ) | VIZSLA SILVER CORP REGISTERED SHS | (1,271 | ) | 92 | (1.3 | ) | |||||||||
| (139,271 | ) | SESA S.P.A. AZ NOM | (1,248 | ) | 146 | (1.2 | ) | |||||||||
| (226,421 | ) | HELLOFRESH SE INHABER | (1,238 | ) | 225 | (1.2 | ) | |||||||||
| (57,100 | ) | GNI GROUP LTD. | (1,216 | ) | 160 | (1.2 | ) | |||||||||
| (324,700 | ) | DENISON MINES CORP REGISTERED SHS | (1,196 | ) | 47 | (1.2 | ) | |||||||||
| (117,500 | ) | SAPPORO HOLDINGS LTD. | (1,193 | ) | (80 | ) | (1.2 | ) | ||||||||
| (63,219 | ) | ENERGY FUELS INC REGISTERED SHS | (1,182 | ) | 30 | (1.2 | ) | |||||||||
| (73,325 | ) | MANCHESTER UNITED PLC REGISTERED SHS | (1,180 | ) | (52 | ) | (1.2 | ) | ||||||||
| (355,346 | ) | HEXATRONIC GROUP AB REGISTERED SHS | (1,177 | ) | (41 | ) | (1.2 | ) | ||||||||
| (1,238,109 | ) | GLOBALDATA PLC REGISTERED SHS | (1,173 | ) | (28 | ) | (1.2 | ) | ||||||||
| (258,342 | ) | IPERIONX LIMITED REGISTERED SHS | (1,128 | ) | 504 | (1.1 | ) | |||||||||
| (399,437 | ) | DRONESHIELD LTD REGISTERED SHS | (1,118 | ) | 68 | (1.1 | ) | |||||||||
| (5,649 | ) | SARTORIUS STEDIM BIOTECH ACT | (1,114 | ) | 26 | (1.1 | ) | |||||||||
| (56,296 | ) | DELIVERY HERO SE NAMEN | (1,108 | ) | 104 | (1.1 | ) | |||||||||
| (792,034 | ) | IBSTOCK PLC REGISTERED SHS | (1,100 | ) | 30 | (1.1 | ) | |||||||||
| (14,423 | ) | ARYZTA AG NAMEN | (1,099 | ) | (19 | ) | (1.1 | ) | ||||||||
| (327,772 | ) | METSA BOARD CORPORATION REGISTERED SHS | (1,093 | ) | (51 | ) | (1.1 | ) | ||||||||
| (60,400 | ) | SOTETSU HOLDINGS INC. | (1,060 | ) | (64 | ) | (1.0 | ) | ||||||||
| (16,766 | ) | RENK GROUP AG INHABER | (1,055 | ) | 51 | (1.0 | ) | |||||||||
| (431,350 | ) | SINCH AB REGISTERED SHS | (1,053 | ) | (68 | ) | (1.0 | ) | ||||||||
| (96,900 | ) | WEST HOLDINGS CORP. | (1,044 | ) | (47 | ) | (1.0 | ) | ||||||||
| (23,174 | ) | ENERGIEKONTOR AG INHABER | (1,019 | ) | (1 | ) | (1.0 | ) | ||||||||
| SEI Institutional International Trust | 19 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
International Equity Fund (Concluded)
Percentages are based on Net Assets of $3,471,188 ($ Thousands).
| * | Non-income producing security. |
| ** | The rate reported is the 7-day effective yield as of March 31, 2026. |
| ‡ | Real Estate Investment Trust. |
| (A) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
| (B) | Interest rate represents the security's effective yield at the time of purchase. |
| (C) | No interest rate available. |
The following is a summary of the level of inputs used as of March 31, 2026, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):
| Investments in Securities | Level 1 ($) | Level 2 ($) | Level 3 ($)(1) | Total ($) | ||||||||||||
| Common Stock | 210,275 | 3,056,690 | – | ^ | 3,266,965 | |||||||||||
| U.S. Treasury Obligation | – | 86,267 | – | 86,267 | ||||||||||||
| Preferred Stock | – | 22,726 | – | 22,726 | ||||||||||||
| Cash Equivalent | 26,019 | – | – | 26,019 | ||||||||||||
| Total Investments in Securities | 236,294 | 3,165,683 | – | 3,401,977 | ||||||||||||
| Other Financial Instruments | Level 1 ($) | Level 2 ($) | Level 3 ($) | Total ($) | ||||||||||||
| Futures Contracts* | ||||||||||||||||
| Unrealized Depreciation | (763 | ) | – | – | (763 | ) | ||||||||||
| OTC Swap | ||||||||||||||||
| Total Return Swap* | ||||||||||||||||
| Unrealized Depreciation | – | (1,768 | ) | – | (1,768 | ) | ||||||||||
| Total Other Financial Instruments | (763 | ) | (1,768 | ) | – | (2,531 | ) | |||||||||
| ^ | This category includes securities with a value of $0. |
| * | Futures contracts and swap contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
(1) A reconciliation of Level 3 instruments is presented when the Fund has a significant amount of Level 3 investments at the end of the period in relation to the net assets. Management has concluded that Level 3 investments are not material in relation to net assets.
For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.
The following is a summary of the Fund’s transactions with affiliates for the period ended March 31, 2026 ($ Thousands):
| Security Description | Value 9/30/2025 | Purchases at Cost | Proceeds from Sales | Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value 3/31/2026 | Income | Capital Gains | ||||||||||||||||||||||||
| SEI Daily Income Trust, Government Fund, Institutional Class | $ | 37,536 | $ | 405,760 | $ | (417,277 | ) | $ | — | $ | — | $ | 26,019 | $ | 643 | $ | — | |||||||||||||||
Amounts designated as “—” are $0 or have been rounded to $0.
See “Glossary” for abbreviations.
The accompanying notes are an integral part of the financial statements.
| 20 | SEI Institutional International Trust |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
Emerging Markets Equity Fund
| Market Value | ||||||||
| Description | Shares | ($ Thousands) | ||||||
| COMMON STOCK†† — 94.2% | ||||||||
| Australia — 0.3% | ||||||||
| Materials — 0.3% | ||||||||
| Anglogold Ashanti Plc | 50,227 | $ | 4,931 | |||||
| 4,931 | ||||||||
| Total Australia | 4,931 | |||||||
| Brazil — 5.5% | ||||||||
| Communication Services — 0.7% | ||||||||
| Telefonica Brasil SA | 617,800 | 4,865 | ||||||
| TIM SA/Brazil | 1,068,200 | 5,613 | ||||||
| 10,478 | ||||||||
| Consumer Discretionary — 0.9% | ||||||||
| Cogna Educacao SA | 1,262,217 | 769 | ||||||
| Cyrela Brazil Realty SA Empreendimentos e | ||||||||
| Participacoes | 791,800 | 4,155 | ||||||
| Lojas Renner SA | 131,892 | 375 | ||||||
| Ultrapar Participacoes SA | 771,033 | 4,230 | ||||||
| Vibra Energia SA | 649,921 | 3,923 | ||||||
| 13,452 | ||||||||
| Consumer Staples — 0.9% | ||||||||
| Natura Cosmeticos SA * | 3,471,200 | 6,913 | ||||||
| Raia Drogasil SA | 1,695,192 | 7,603 | ||||||
| 14,516 | ||||||||
| Energy — 0.9% | ||||||||
| Petroleo Brasileiro SA - Petrobras | 67,100 | 690 | ||||||
| Petroleo Brasileiro SA - Petrobras ADR, Cl A | 486,758 | 9,127 | ||||||
| PRIO SA/Brazil * | 301,200 | 3,824 | ||||||
| 13,641 | ||||||||
| Financials — 1.4% | ||||||||
| B3 SA - Brasil Bolsa Balcao | 1,070,200 | 3,771 | ||||||
| Banco Bradesco SA ADR | 1,115,235 | 4,071 | ||||||
| Banco BTG Pactual SA | 85,500 | 926 | ||||||
| Itau Unibanco Holding SA ADR | 1,363,153 | 11,423 | ||||||
| Pagseguro Digital Ltd, Cl A | 84,500 | 847 | ||||||
| 21,038 | ||||||||
| Industrials — 0.2% | ||||||||
| Localiza Rent a Car SA | 116,700 | 1,051 | ||||||
| WEG SA | 271,600 | 2,648 | ||||||
| 3,699 | ||||||||
| Materials — 0.0% | ||||||||
| Vale SA | 30,148 | 476 | ||||||
| Utilities — 0.5% | ||||||||
| Axia Energia | 469,200 | 5,258 | ||||||
| Cia de Saneamento Basico do Estado de Sao Paulo SABESP | 1 | – | ||||||
| CPFL Energia SA | 244,195 | 2,277 | ||||||
| 7,535 | ||||||||
| Total Brazil | 84,835 | |||||||
| Market Value | ||||||||
| Description | Shares | ($ Thousands) | ||||||
| COMMON STOCK†† (continued) | ||||||||
| Chile — 0.7% | ||||||||
| Communication Services — 0.0% | ||||||||
| Empresa Nacional de Telecomunicaciones SA | 92,800 | $ | 365 | |||||
| Consumer Discretionary — 0.1% | ||||||||
| Falabella SA | 251,169 | 1,525 | ||||||
| Financials — 0.3% | ||||||||
| Banco de Chile | 23,649,440 | 4,258 | ||||||
| Inversiones La Construccion SA | 20,300 | 422 | ||||||
| 4,680 | ||||||||
| Industrials — 0.1% | ||||||||
| Latam Airlines Group SA | 52,194,400 | 1,275 | ||||||
| Real Estate — 0.1% | ||||||||
| Plaza SA | 241,400 | 1,019 | ||||||
| Utilities — 0.1% | ||||||||
| Colbun SA | 3,067,448 | 427 | ||||||
| Engie Energia Chile SA | 568,340 | 907 | ||||||
| 1,334 | ||||||||
| Total Chile | 10,198 | |||||||
| China — 22.7% | ||||||||
| Communication Services — 4.5% | ||||||||
| Baidu Inc ADR * | 47,372 | 5,278 | ||||||
| Baidu Inc, Cl A * | 45,900 | 642 | ||||||
| Giant Network Group Co Ltd, Cl A | 141,700 | 653 | ||||||
| Hello Group Inc ADR | 63,146 | 364 | ||||||
| JOYY Inc ADR | 33,365 | 1,948 | ||||||
| NetEase Inc | 634,168 | 14,172 | ||||||
| Tencent Holdings Ltd | 728,800 | 45,973 | ||||||
| Weibo Corp ADR | 26,100 | 228 | ||||||
| Weibo Corp, Cl A | 54,500 | 473 | ||||||
| Xinhua Winshare Publishing and Media Co Ltd, Cl H | 95,000 | 127 | ||||||
| 69,858 | ||||||||
| Consumer Discretionary — 6.4% | ||||||||
| Alibaba Group Holding Ltd | 2,138,700 | 33,527 | ||||||
| BAIC Motor Corp Ltd, Cl H * | 1,044,692 | 206 | ||||||
| Bosideng International Holdings Ltd | 1,156,546 | 595 | ||||||
| BYD Co Ltd, Cl H | 146,611 | 2,005 | ||||||
| China Meidong Auto Holdings Ltd | 6,260,000 | 1,131 | ||||||
| China Tourism Group Duty Free Corp Ltd, Cl H | 123,900 | 1,036 | ||||||
| Geely Automobile Holdings Ltd | 3,159,702 | 8,558 | ||||||
| Haier Smart Home Co Ltd, Cl A | 3,481,300 | 9,327 | ||||||
| JD.com Inc ADR | 175,780 | 5,198 | ||||||
| JD.com Inc, Cl A | 117,988 | 1,739 | ||||||
| Li Ning Co Ltd | 132,900 | 367 | ||||||
| Meituan, Cl B * | 521,468 | 5,691 | ||||||
| SEI Institutional International Trust | 21 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
Emerging Markets Equity Fund (Continued)
| Market Value | ||||||||
| Description | Shares | ($ Thousands) | ||||||
| COMMON STOCK†† (continued) | ||||||||
| Midea Group Co Ltd, Cl A | 61,700 | $ | 687 | |||||
| Midea Group Co Ltd, Cl H * | 86,400 | 930 | ||||||
| New Oriental Education & Technology Group Inc | 854,300 | 4,840 | ||||||
| Nexteer Automotive Group Ltd | 2,101,000 | 1,373 | ||||||
| PDD Holdings Inc ADR * | 56,439 | 5,767 | ||||||
| Pop Mart International Group Ltd | 63,879 | 1,189 | ||||||
| TCL Electronics Holdings Ltd | 883,357 | 1,452 | ||||||
| Trip.com Group Ltd * | 65,088 | 3,217 | ||||||
| Trip.com Group Ltd ADR * | 69,705 | 3,471 | ||||||
| Vipshop Holdings Ltd ADR | 428,917 | 6,743 | ||||||
| Zhejiang China Commodities City Group Co Ltd, Cl A | 146,282 | 277 | ||||||
| 99,326 | ||||||||
| Consumer Staples — 1.2% | ||||||||
| China Resources Beer Holdings Co Ltd | 934,000 | 3,091 | ||||||
| Foshan Haitian Flavouring & Food Co Ltd, Cl A | 1,171,060 | 6,981 | ||||||
| Foshan Haitian Flavouring & Food Co Ltd, Cl H | 477,300 | 2,235 | ||||||
| Hengan International Group Co Ltd | 393,900 | 1,394 | ||||||
| JD Health International Inc * | 450,300 | 2,749 | ||||||
| Want Want China Holdings Ltd | 3,437,300 | 2,034 | ||||||
| 18,484 | ||||||||
| Energy — 0.2% | ||||||||
| PetroChina Co Ltd, Cl A | 167,800 | 294 | ||||||
| PetroChina Co Ltd, Cl H | 1,987,000 | 2,726 | ||||||
| 3,020 | ||||||||
| Financials — 4.1% | ||||||||
| Agricultural Bank of China Ltd, Cl H | 4,251,800 | 3,042 | ||||||
| China CITIC Bank Corp Ltd, Cl A | 233,700 | 281 | ||||||
| China CITIC Bank Corp Ltd, Cl H | 5,611,361 | 5,684 | ||||||
| China CITIC Financial Asset Management Co Ltd, Cl H * | 4,454,700 | 453 | ||||||
| China Construction Bank Corp, Cl A | 1,043,900 | 1,460 | ||||||
| China Construction Bank Corp, Cl H | 1,437,079 | 1,551 | ||||||
| China Life Insurance Co Ltd, Cl A | 158,200 | 840 | ||||||
| China Life Insurance Co Ltd, Cl H | 1,865,689 | 5,953 | ||||||
| China Pacific Insurance Group Co Ltd, Cl A | 178,000 | 964 | ||||||
| China Pacific Insurance Group Co Ltd, Cl H | 437,941 | 1,794 | ||||||
| China Reinsurance Group Corp, Cl H | 871,500 | 165 | ||||||
| Chongqing Rural Commercial Bank Co Ltd, Cl H | 814,900 | 706 | ||||||
| FinVolution Group ADR | 137,324 | 658 | ||||||
| GF Securities Co Ltd, Cl H | 332,700 | 618 | ||||||
| Hithink RoyalFlush Information Network Co Ltd, Cl A | 33,400 | 1,460 | ||||||
| Huatai Securities Co Ltd, Cl A | 74,400 | 194 | ||||||
| Industrial & Commercial Bank of China Ltd, Cl H | 10,877,009 | 9,589 | ||||||
| New China Life Insurance Co Ltd, Cl A | 99,100 | 894 | ||||||
| New China Life Insurance Co Ltd, Cl H | 555,564 | 3,308 | ||||||
| Market Value | ||||||||
| Description | Shares | ($ Thousands) | ||||||
| COMMON STOCK†† (continued) | ||||||||
| People's Insurance Co Group of China Ltd/The, Cl A | 690,100 | $ | 734 | |||||
| People's Insurance Co Group of China Ltd/The, Cl H | 6,891,467 | 4,800 | ||||||
| PICC Property & Casualty Co Ltd, Cl H | 2,891,838 | 5,324 | ||||||
| Ping An Insurance Group Co of China Ltd, Cl H | 1,538,572 | 11,832 | ||||||
| Shenwan Hongyuan Group Co Ltd, Cl A | 425,500 | 291 | ||||||
| Up Fintech Holding Ltd ADR * | 35,300 | 222 | ||||||
| 62,817 | ||||||||
| Health Care — 0.9% | ||||||||
| Beijing Tiantan Biological Products Corp Ltd, Cl A | 124,059 | 272 | ||||||
| Consun Pharmaceutical Group Ltd | 472,911 | 1,009 | ||||||
| Genertec Universal Medical Group Co Ltd | 703,200 | 522 | ||||||
| Guangzhou Kingmed Diagnostics Group Co Ltd, Cl A | 654,789 | 2,516 | ||||||
| Hansoh Pharmaceutical Group Co Ltd | 635,700 | 2,910 | ||||||
| Innovent Biologics Inc * | 457,000 | 5,028 | ||||||
| Jiangsu Yuyue Medical Equipment & Supply Co Ltd, Cl A | 127,100 | 628 | ||||||
| Sichuan Kelun Pharmaceutical Co Ltd, Cl A | 51,794 | 262 | ||||||
| Sino Biopharmaceutical Ltd | 624,405 | 475 | ||||||
| WuXi AppTec Co Ltd, Cl A | 38,700 | 561 | ||||||
| WuXi AppTec Co Ltd, Cl H | 28,600 | 438 | ||||||
| 14,621 | ||||||||
| Industrials — 3.7% | ||||||||
| Airtac International Group | 150,590 | 4,796 | ||||||
| Centre Testing International Group Co Ltd, Cl A | 3,427,400 | 7,004 | ||||||
| Contemporary Amperex Technology Co Ltd, Cl A | 253,100 | 14,975 | ||||||
| COSCO SHIPPING Holdings Co Ltd, Cl A | 922,100 | 2,013 | ||||||
| COSCO SHIPPING Holdings Co Ltd, Cl H | 2,218,486 | 4,225 | ||||||
| Dongfang Electric Corp Ltd, Cl H | 469,800 | 2,070 | ||||||
| Goneo Group Co Ltd, Cl A | 38,306 | 233 | ||||||
| JD Logistics Inc * | 1,825,100 | 3,222 | ||||||
| Lonking Holdings Ltd | 2,318,300 | 888 | ||||||
| Ningbo Orient Wires & Cables Co Ltd, Cl A | 247,388 | 2,185 | ||||||
| Qingdao Port International Co Ltd, Cl H | 814,600 | 708 | ||||||
| Sany Heavy Industry Co Ltd, Cl A | 155,600 | 437 | ||||||
| Shanghai Industrial Holdings Ltd | 510,244 | 919 | ||||||
| Shenzhen Envicool Technology Co Ltd, Cl A | 102,500 | 1,277 | ||||||
| Shenzhen Inovance Technology Co Ltd, Cl A | 182,200 | 1,785 | ||||||
| Shenzhen International Holdings Ltd | 20,929 | 19 | ||||||
| Sieyuan Electric Co Ltd, Cl A | 14,200 | 420 | ||||||
| Sinopec Engineering Group Co Ltd, Cl H | 1,029,219 | 775 | ||||||
| Yangzijiang Shipbuilding Holdings Ltd | 1,909,200 | 5,652 | ||||||
| Yutong Bus Co Ltd, Cl A | 156,200 | 811 | ||||||
| Zoomlion Heavy Industry Science and Technology Co Ltd, Cl A | 322,819 | 406 | ||||||
| 22 | SEI Institutional International Trust |
| Market Value | ||||||||
| Description | Shares | ($ Thousands) | ||||||
| COMMON STOCK†† (continued) | ||||||||
| Zoomlion Heavy Industry Science and Technology Co Ltd, Cl H | 1,823,800 | $ | 2,025 | |||||
| 56,845 | ||||||||
| Information Technology — 0.4% | ||||||||
| Anker Innovations Technology Co Ltd, Cl A | 30,200 | 480 | ||||||
| China Railway Signal & Communication Corp Ltd, Cl H | 879,189 | 391 | ||||||
| Piotech Inc, Cl A | 4,000 | 219 | ||||||
| Shengyi Technology Co Ltd, Cl A | 178,100 | 1,430 | ||||||
| Shennan Circuits Co Ltd, Cl A | 12,300 | 402 | ||||||
| Shenzhen Sunlord Electronics Co Ltd, Cl A | 401,000 | 1,998 | ||||||
| Zhongji Innolight Co Ltd, Cl A | 21,600 | 1,851 | ||||||
| 6,771 | ||||||||
| Materials — 0.9% | ||||||||
| Anhui Conch Cement Co Ltd, Cl H | 217,184 | 591 | ||||||
| China Hongqiao Group Ltd | 255,901 | 1,156 | ||||||
| CMOC Group Ltd, Cl A | 329,200 | 840 | ||||||
| CMOC Group Ltd, Cl H | 360,648 | 759 | ||||||
| Fufeng Group Ltd | 1,727,247 | 1,542 | ||||||
| Shanghai Putailai New Energy Technology Group Co Ltd, Cl A | 669,490 | 3,147 | ||||||
| Shanjin International Gold Co Ltd, Cl A | 152,500 | 668 | ||||||
| Yunnan Yuntianhua Co Ltd, Cl A | 83,600 | 406 | ||||||
| Zangge Mining Co Ltd, Cl A | 115,100 | 1,343 | ||||||
| Zijin Mining Group Co Ltd, Cl A | 579,100 | 2,812 | ||||||
| Zijin Mining Group Co Ltd, Cl H | 39,900 | 180 | ||||||
| 13,444 | ||||||||
| Real Estate — 0.3% | ||||||||
| China Resources Land Ltd | 1,211,000 | 4,489 | ||||||
| Seazen Group Ltd * | 526,254 | 138 | ||||||
| 4,627 | ||||||||
| Utilities — 0.1% | ||||||||
| Beijing Enterprises Holdings Ltd | 307,657 | 1,176 | ||||||
| Total China | 350,989 | |||||||
| Czech Republic — 0.1% | ||||||||
| Industrials — 0.1% | ||||||||
| CSG NV * | 29,583 | 796 | ||||||
| Egypt — 0.5% | ||||||||
| Communication Services — 0.0% | ||||||||
| Telecom Egypt Co | 610,400 | 879 | ||||||
| Financials — 0.5% | ||||||||
| Commercial International Bank - Egypt (CIB) | 3,118,989 | 6,921 | ||||||
| EFG Holding S.A.E. * | 318,191 | 147 | ||||||
| 7,068 | ||||||||
| Total Egypt | 7,947 | |||||||
| Market Value | ||||||||
| Description | Shares | ($ Thousands) | ||||||
| COMMON STOCK†† (continued) | ||||||||
| Greece — 0.6% | ||||||||
| Communication Services — 0.1% | ||||||||
| Hellenic Telecommunications Organization SA | 84,990 | $ | 1,598 | |||||
| Consumer Discretionary — 0.2% | ||||||||
| Allwyn AG | 149,582 | 2,256 | ||||||
| JUMBO SA | 41,558 | 1,053 | ||||||
| 3,309 | ||||||||
| Financials — 0.3% | ||||||||
| Eurobank SA | 1,285,356 | 5,130 | ||||||
| Total Greece | 10,037 | |||||||
| Hong Kong — 1.2% | ||||||||
| Consumer Staples — 0.4% | ||||||||
| Chaoda Modern Agriculture Holdings Ltd * | 102,809 | 3 | ||||||
| WH Group Ltd | 3,889,107 | 5,113 | ||||||
| 5,116 | ||||||||
| Financials — 0.7% | ||||||||
| AIA Group Ltd | 665,400 | 7,394 | ||||||
| Hong Kong Exchanges & Clearing Ltd | 65,300 | 3,295 | ||||||
| 10,689 | ||||||||
| Industrials — 0.0% | ||||||||
| Orient Overseas International Ltd | 21,600 | 385 | ||||||
| Information Technology — 0.0% | ||||||||
| China High Precision Automation Group Ltd * | 1,385,624 | 41 | ||||||
| Materials — 0.1% | ||||||||
| Nine Dragons Paper Holdings Ltd * | 2,179,000 | 1,847 | ||||||
| Total Hong Kong | 18,078 | |||||||
| Hungary — 1.2% | ||||||||
| Communication Services — 0.0% | ||||||||
| Magyar Telekom Telecommunications PLC | 81,934 | 507 | ||||||
| Energy — 0.4% | ||||||||
| MOL Hungarian Oil & Gas PLC | 498,026 | 5,920 | ||||||
| Financials — 0.7% | ||||||||
| OTP Bank Nyrt | 99,931 | 10,632 | ||||||
| Health Care — 0.1% | ||||||||
| Richter Gedeon Nyrt | 26,400 | 933 | ||||||
| Total Hungary | 17,992 | |||||||
| India — 9.6% | ||||||||
| Communication Services — 0.3% | ||||||||
| Bharti Airtel Ltd | 60,650 | 1,153 | ||||||
| Indus Towers Ltd * | 266,876 | 1,188 | ||||||
| SEI Institutional International Trust | 23 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
Emerging Markets Equity Fund (Continued)
| Description | Shares | Market
Value ($ Thousands) |
||||||
| COMMON STOCK†† (continued) | ||||||||
| Info Edge India Ltd | 220,662 | $ | 2,280 | |||||
| 4,621 | ||||||||
| Consumer Discretionary — 1.3% | ||||||||
| Eicher Motors Ltd | 55,365 | 3,877 | ||||||
| Hero MotoCorp Ltd | 105,917 | 5,725 | ||||||
| JK Tyre & Industries Ltd | 34,700 | 141 | ||||||
| Mahindra & Mahindra Ltd GDR | 149,414 | 4,946 | ||||||
| Maruti Suzuki India Ltd | 18,681 | 2,450 | ||||||
| MRF Ltd | 800 | 1,091 | ||||||
| Tube Investments of India Ltd | 85,089 | 2,276 | ||||||
| 20,506 | ||||||||
| Consumer Staples — 0.7% | ||||||||
| Britannia Industries Ltd | 68,436 | 3,913 | ||||||
| Marico Ltd | 726,994 | 5,674 | ||||||
| Nestle India Ltd | 116,100 | 1,443 | ||||||
| 11,030 | ||||||||
| Energy — 1.5% | ||||||||
| Bharat Petroleum Corp Ltd | 1,684,950 | 5,052 | ||||||
| Great Eastern Shipping Co Ltd/The | 121,539 | 1,828 | ||||||
| Indian Oil Corp Ltd | 972,100 | 1,388 | ||||||
| Oil & Natural Gas Corp Ltd | 3,149,568 | 9,489 | ||||||
| Petronet LNG Ltd | 150,234 | 394 | ||||||
| Reliance Industries Ltd | 313,732 | 4,512 | ||||||
| 22,663 | ||||||||
| Financials — 2.9% | ||||||||
| Bank of Baroda | 1,188,919 | 3,134 | ||||||
| Canara Bank | 3,384,557 | 4,459 | ||||||
| General Insurance Corp of India | 248,795 | 955 | ||||||
| HDFC Bank Ltd | 454,640 | 3,561 | ||||||
| HDFC Bank Ltd ADR | 395,273 | 9,834 | ||||||
| ICICI Bank Ltd | 106,217 | 1,364 | ||||||
| ICICI Bank Ltd ADR | 299,086 | 7,746 | ||||||
| Karur Vysya Bank Ltd/The | 439,940 | 1,355 | ||||||
| L&T Finance Ltd | 455,550 | 1,165 | ||||||
| LIC Housing Finance Ltd | 363,047 | 1,911 | ||||||
| Multi Commodity Exchange of India Ltd | 32,500 | 831 | ||||||
| Muthoot Finance Ltd | 144,605 | 4,856 | ||||||
| Sammaan Capital Ltd * | 114,000 | 181 | ||||||
| Shriram Finance Ltd | 247,500 | 2,303 | ||||||
| Union Bank of India Ltd | 358,900 | 629 | ||||||
| 44,284 | ||||||||
| Health Care — 0.9% | ||||||||
| Aurobindo Pharma Ltd | 162,693 | 2,262 | ||||||
| Dr Reddy's Laboratories Ltd | 71,700 | 961 | ||||||
| Dr Reddy's Laboratories Ltd ADR | 525,686 | 7,281 | ||||||
| Sun Pharmaceutical Industries Ltd | 174,600 | 3,266 | ||||||
| Zydus Lifesciences Ltd | 63,400 | 590 | ||||||
| 14,360 | ||||||||
| Industrials — 0.2% | ||||||||
| Ashok Leyland Ltd | 1,099,686 | 1,805 | ||||||
| Description | Shares | Market
Value ($ Thousands) |
||||||
| COMMON STOCK†† (continued) | ||||||||
| MTAR Technologies Ltd * | 43,909 | $ | 1,616 | |||||
| 3,421 | ||||||||
| Information Technology — 0.8% | ||||||||
| Infosys Ltd ADR | 308,556 | 4,169 | ||||||
| Infosys Ltd | 488,599 | 6,590 | ||||||
| Netweb Technologies India Ltd | 35,767 | 1,181 | ||||||
| 11,940 | ||||||||
| Materials — 0.8% | ||||||||
| Castrol India Ltd | 235,632 | 435 | ||||||
| Chambal Fertilisers and Chemicals Ltd | 43,900 | 199 | ||||||
| Coromandel International Ltd | 11,250 | 229 | ||||||
| EID Parry India Ltd * | 33,501 | 276 | ||||||
| GHCL Ltd | 39,343 | 177 | ||||||
| Hindalco Industries Ltd | 160,506 | 1,518 | ||||||
| National Aluminium Co Ltd | 1,011,700 | 4,176 | ||||||
| NMDC Ltd | 1,661,609 | 1,352 | ||||||
| Vedanta Ltd | 560,497 | 3,933 | ||||||
| 12,295 | ||||||||
| Real Estate — 0.1% | ||||||||
| Phoenix Mills Ltd/The | 112,368 | 1,801 | ||||||
| Utilities — 0.1% | ||||||||
| Mahanagar Gas Ltd | 56,100 | 552 | ||||||
| PTC India Ltd | 69,600 | 117 | ||||||
| 669 | ||||||||
| Total India | 147,590 | |||||||
| Indonesia — 2.0% | ||||||||
| Communication Services — 0.1% | ||||||||
| Telkom Indonesia Persero Tbk PT | 12,421,400 | 2,246 | ||||||
| Consumer Staples — 0.3% | ||||||||
| Indofood Sukses Makmur Tbk PT | 2,003,984 | 748 | ||||||
| Japfa Comfeed Indonesia Tbk PT | 4,277,600 | 598 | ||||||
| Unilever Indonesia Tbk PT | 29,260,300 | 3,169 | ||||||
| 4,515 | ||||||||
| Energy — 0.2% | ||||||||
| Adaro Andalan Indonesia PT | 835,600 | 559 | ||||||
| Alamtri Resources Indonesia Tbk PT | 14,200 | 2 | ||||||
| Bukit Asam Persero Tbk PT | 1,269,900 | 238 | ||||||
| United Tractors Tbk PT | 910,100 | 1,664 | ||||||
| 2,463 | ||||||||
| Financials — 1.0% | ||||||||
| Bank Central Asia Tbk PT | 18,759,400 | 7,246 | ||||||
| Bank Mandiri Persero Tbk PT | 8,084,700 | 2,269 | ||||||
| Bank Rakyat Indonesia Persero Tbk PT | 28,533,728 | 5,702 | ||||||
| 15,217 | ||||||||
| Industrials — 0.2% | ||||||||
| Astra International Tbk PT | 7,130,145 | 2,632 | ||||||
| 24 | SEI Institutional International Trust |
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK†† (continued) | ||||||||
| Materials — 0.1% | ||||||||
| Merdeka Battery Materials Tbk PT * | 25,106,700 | $ | 1,094 | |||||
| Merdeka Copper Gold Tbk PT * | 4,877,100 | 928 | ||||||
| 2,022 | ||||||||
| Utilities — 0.1% | ||||||||
| Perusahaan Gas Negara Persero Tbk PT | 12,293,300 | 1,345 | ||||||
| Total Indonesia | 30,440 | |||||||
| Kazakhstan — 0.1% | ||||||||
| Energy — 0.1% | ||||||||
| NAC Kazatomprom JSC GDR | 23,154 | 1,803 | ||||||
| Kuwait — 0.3% | ||||||||
| Communication Services — 0.3% | ||||||||
| Mobile Telecommunications Co KSCP | 2,435,431 | 4,484 | ||||||
| Consumer Discretionary — 0.0% | ||||||||
| Humansoft Holding Co KSC | 113,300 | 882 | ||||||
| Total Kuwait | 5,366 | |||||||
| Malaysia — 0.5% | ||||||||
| Communication Services — 0.1% | ||||||||
| Telekom Malaysia Bhd | 483,900 | 850 | ||||||
| Consumer Staples — 0.0% | ||||||||
| United Plantations BHD | 1,850 | 16 | ||||||
| Energy — 0.0% | ||||||||
| Petronas Dagangan Bhd | 93,800 | 507 | ||||||
| Financials — 0.1% | ||||||||
| Public Bank Bhd | 1,614,300 | 1,874 | ||||||
| Industrials — 0.1% | ||||||||
| Zetrix Ai Bhd | 3,402,089 | 629 | ||||||
| Materials — 0.2% | ||||||||
| Malayan Cement Bhd | 261,200 | 390 | ||||||
| Petronas Chemicals Group Bhd | 1,992,700 | 2,996 | ||||||
| 3,386 | ||||||||
| Real Estate — 0.0% | ||||||||
| Sunway Real Estate Investment Trust ‡ | 91,200 | 52 | ||||||
| Total Malaysia | 7,314 | |||||||
| Mexico — 2.3% | ||||||||
| Consumer Staples — 1.0% | ||||||||
| Fomento Economico Mexicano SAB de CV ADR | 42,409 | 4,710 | ||||||
| Fomento Economico Mexicano SAB de CV | 955,700 | 10,522 | ||||||
| 15,232 | ||||||||
| Financials — 1.2% | ||||||||
| Banco del Bajio SA | 961,533 | 2,952 | ||||||
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK†† (continued) | ||||||||
| Gentera SAB de CV | 424,700 | $ | 1,197 | |||||
| Grupo Financiero Banorte SAB de CV, Cl O | 1,365,628 | 15,022 | ||||||
| 19,171 | ||||||||
| Materials — 0.1% | ||||||||
| Cemex SAB de CV ADR | 160,303 | 1,834 | ||||||
| Total Mexico | 36,237 | |||||||
| Netherlands — 0.2% | ||||||||
| Energy — 0.2% | ||||||||
| SBM Offshore NV | 78,992 | 3,140 | ||||||
| Peru — 0.2% | ||||||||
| Materials — 0.2% | ||||||||
| Cia de Minas Buenaventura SAA ADR | 81,597 | 2,941 | ||||||
| Philippines — 0.4% | ||||||||
| Communication Services — 0.0% | ||||||||
| Converge Information and Communications Technology Solutions Inc | 1,674,100 | 341 | ||||||
| Consumer Staples — 0.2% | ||||||||
| Century Pacific Food Inc | 3,581,200 | 2,063 | ||||||
| Puregold Price Club Inc | 144,900 | 98 | ||||||
| 2,161 | ||||||||
| Financials — 0.0% | ||||||||
| Metropolitan Bank & Trust Co | 505,379 | 528 | ||||||
| Industrials — 0.2% | ||||||||
| Alliance Global Group Inc | 1,796,405 | 266 | ||||||
| International Container Terminal Services Inc | 254,098 | 2,881 | ||||||
| LT Group Inc | 675,800 | 163 | ||||||
| 3,310 | ||||||||
| Total Philippines | 6,340 | |||||||
| Poland — 1.7% | ||||||||
| Energy — 0.2% | ||||||||
| ORLEN SA | 109,300 | 3,944 | ||||||
| Financials — 1.0% | ||||||||
| Alior Bank SA | 109,759 | 3,274 | ||||||
| Bank Polska Kasa Opieki SA | 197,433 | 11,649 | ||||||
| KRUK SA | 5,500 | 667 | ||||||
| 15,590 | ||||||||
| Health Care — 0.1% | ||||||||
| Diagnostyka SA | 29,879 | 1,375 | ||||||
| Materials — 0.2% | ||||||||
| KGHM Polska Miedz SA * | 38,257 | 2,783 | ||||||
| Utilities — 0.2% | ||||||||
| Enea SA | 233,420 | 1,554 | ||||||
| SEI Institutional International Trust | 25 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
Emerging Markets Equity Fund (Continued)
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK†† (continued) | ||||||||
| PGE Polska Grupa Energetyczna SA * | 275,300 | $ | 783 | |||||
| Tauron Polska Energia SA * | 40,500 | 112 | ||||||
| 2,449 | ||||||||
| Total Poland | 26,141 | |||||||
| Portugal — 0.3% | ||||||||
| Consumer Staples — 0.3% | ||||||||
| Jeronimo Martins SGPS SA | 213,772 | 5,096 | ||||||
| Qatar — 0.3% | ||||||||
| Communication Services — 0.3% | ||||||||
| Ooredoo QPSC | 1,166,678 | 3,980 | ||||||
| Real Estate — 0.0% | ||||||||
| Barwa Real Estate Co | 1,232,200 | 785 | ||||||
| Total Qatar | 4,765 | |||||||
| Russia — 0.0% | ||||||||
| Communication Services — 0.0% | ||||||||
| Mobile TeleSystems PJSC * | 1,398,028 | – | ||||||
| Energy — 0.0% | ||||||||
| Gazprom PJSC * | 279,264 | – | ||||||
| Gazprom PJSC ADR | 35,029 | – | ||||||
| LUKOIL PJSC * | 109,206 | – | ||||||
| Rosneft Oil Co PJSC *(A) | 230,389 | – | ||||||
| Surgutneftegas PJSC ADR * | 501,658 | – | ||||||
| – | ||||||||
| Financials — 0.0% | ||||||||
| Sberbank of Russia PJSC *(A) | 417,388 | – | ||||||
| Sberbank of Russia PJSC ADR | 58,444 | – | ||||||
| – | ||||||||
| Materials — 0.0% | ||||||||
| Alrosa PJSC *(A) | 605,728 | – | ||||||
| Total Russia | – | |||||||
| Saudi Arabia — 1.4% | ||||||||
| Communication Services — 0.3% | ||||||||
| Etihad Etisalat Co | 243,866 | 4,247 | ||||||
| Energy — 0.5% | ||||||||
| Arabian Drilling Co | 44,702 | 968 | ||||||
| Saudi Arabian Oil Co | 840,531 | 6,085 | ||||||
| 7,053 | ||||||||
| Financials — 0.5% | ||||||||
| Banque Saudi Fransi | 104,400 | 557 | ||||||
| Riyad Bank | 472,600 | 3,743 | ||||||
| Saudi National Bank/The | 290,618 | 3,281 | ||||||
| 7,581 | ||||||||
| Materials — 0.1% | ||||||||
| Yanbu National Petrochemical Co | 170,002 | 1,596 | ||||||
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK†† (continued) | ||||||||
| Real Estate — 0.0% | ||||||||
| Arabian Centres Co | 132,769 | $ | 604 | |||||
| Total Saudi Arabia | 21,081 | |||||||
| Singapore — 0.0% | ||||||||
| Financials — 0.0% | ||||||||
| Yangzijiang Financial Holding Ltd | 292,509 | 57 | ||||||
| South Africa — 4.0% | ||||||||
| Communication Services — 0.2% | ||||||||
| Telkom SA SOC Ltd | 331,000 | 1,137 | ||||||
| Vodacom Group Ltd | 217,600 | 1,835 | ||||||
| 2,972 | ||||||||
| Consumer Discretionary — 1.1% | ||||||||
| Naspers Ltd, Cl N | 328,929 | 16,819 | ||||||
| Consumer Staples — 0.4% | ||||||||
| AVI Ltd | 656,592 | 3,983 | ||||||
| Tiger Brands Ltd | 137,566 | 2,437 | ||||||
| 6,420 | ||||||||
| Energy — 0.1% | ||||||||
| Exxaro Resources Ltd | 145,800 | 1,931 | ||||||
| Financials — 1.2% | ||||||||
| Absa Group Ltd | 591,677 | 8,425 | ||||||
| Capitec Bank Holdings Ltd | 15,399 | 3,740 | ||||||
| Discovery Ltd | 197,354 | 2,863 | ||||||
| JSE Ltd | 78,900 | 741 | ||||||
| Momentum Group Ltd | 25,945 | 55 | ||||||
| Nedbank Group Ltd | 50,533 | 788 | ||||||
| Ninety One Ltd | 68,000 | 202 | ||||||
| Old Mutual Ltd | 466,000 | 376 | ||||||
| Sanlam Ltd | 123,638 | 643 | ||||||
| 17,833 | ||||||||
| Health Care — 0.2% | ||||||||
| Aspen Pharmacare Holdings Ltd | 335,555 | 2,576 | ||||||
| Netcare Ltd | 7,900 | 8 | ||||||
| 2,584 | ||||||||
| Information Technology — 0.0% | ||||||||
| DataTec Ltd | 56,535 | 232 | ||||||
| Materials — 0.6% | ||||||||
| Anglo American PLC | 83,010 | 3,538 | ||||||
| DRDGOLD Ltd | 132,900 | 391 | ||||||
| Gold Fields Ltd | 16,500 | 750 | ||||||
| Harmony Gold Mining Co Ltd | 125,700 | 1,898 | ||||||
| Impala Platinum Holdings Ltd | 61,436 | 864 | ||||||
| Kumba Iron Ore Ltd | 59,111 | 1,103 | ||||||
| Omnia Holdings Ltd | 197,858 | 1,113 | ||||||
| 9,657 | ||||||||
| 26 | SEI Institutional International Trust |
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK†† (continued) | ||||||||
| Real Estate — 0.2% | ||||||||
| Growthpoint Properties Ltd ‡ | 801,500 | $ | 757 | |||||
| Redefine Properties Ltd ‡ | 1,277,639 | 446 | ||||||
| Resilient REIT Ltd ‡ | 354,079 | 1,667 | ||||||
| 2,870 | ||||||||
| Total South Africa | 61,318 | |||||||
| South Korea — 14.2% | ||||||||
| Communication Services — 0.4% | ||||||||
| Cheil Worldwide Inc | 42,251 | 531 | ||||||
| KT Corp ADR * | 115,128 | 2,470 | ||||||
| LG Uplus Corp | 257,540 | 2,678 | ||||||
| NAVER Corp | 1,000 | 136 | ||||||
| 5,815 | ||||||||
| Consumer Discretionary — 1.8% | ||||||||
| DoubleUGames Co Ltd | 3,900 | 129 | ||||||
| Hankook Tire & Technology Co Ltd | 89,530 | 3,296 | ||||||
| Hyundai Department Store Co Ltd | 8,288 | 444 | ||||||
| Hyundai Mobis Co Ltd | 13,426 | 3,464 | ||||||
| Hyundai Motor Co | 7,495 | 2,309 | ||||||
| Hyundai Wia Corp | 4,200 | 222 | ||||||
| Kia Corp | 131,360 | 12,969 | ||||||
| LG Electronics Inc | 48,455 | 3,513 | ||||||
| Youngone Corp | 11,095 | 591 | ||||||
| Youngone Holdings Co Ltd | 1,500 | 224 | ||||||
| 27,161 | ||||||||
| Consumer Staples — 0.4% | ||||||||
| Amorepacific Holdings Corp | 9,700 | 181 | ||||||
| APR Corp/Korea | 15,620 | 3,564 | ||||||
| E-MART Inc | 6,100 | 396 | ||||||
| KT&G Corp | 15,301 | 1,645 | ||||||
| Orion Corp/Republic of Korea | 7,000 | 606 | ||||||
| Shinsegae Inc | 2,000 | 411 | ||||||
| 6,803 | ||||||||
| Financials — 2.2% | ||||||||
| BNK Financial Group Inc | 44,600 | 541 | ||||||
| Hana Financial Group Inc | 189,766 | 13,834 | ||||||
| KB Financial Group Inc | 29,411 | 2,887 | ||||||
| Korea Investment Holdings Co Ltd | 10,587 | 1,477 | ||||||
| Samsung Fire & Marine Insurance Co Ltd | 7,810 | 2,339 | ||||||
| Shinhan Financial Group Co Ltd | 113,500 | 6,765 | ||||||
| Woori Financial Group Inc | 276,083 | 6,052 | ||||||
| 33,895 | ||||||||
| Health Care — 0.1% | ||||||||
| Celltrion Inc | 9,028 | 1,207 | ||||||
| Industrials — 1.9% | ||||||||
| GS Holdings Corp | 53,526 | 2,313 | ||||||
| HD Korea Shipbuilding & Offshore Engineering Co Ltd | 1,668 | 387 | ||||||
| Hyosung Corp | 4,800 | 421 | ||||||
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK†† (continued) | ||||||||
| Hyundai Rotem Co Ltd | 32,472 | $ | 3,739 | |||||
| LX INTERNATIONAL CORP | 27,000 | 786 | ||||||
| Samsung E&A Co Ltd | 42,500 | 1,044 | ||||||
| Sanil Electric Co Ltd | 14,787 | 1,365 | ||||||
| SK Inc | 26,453 | 5,438 | ||||||
| SK Square Co Ltd * | 42,557 | 14,012 | ||||||
| 29,505 | ||||||||
| Information Technology — 7.3% | ||||||||
| Duk San Neolux Co Ltd * | 54,820 | 1,897 | ||||||
| NEXTIN Inc | 27,856 | 1,198 | ||||||
| Samsung Electro-Mechanics Co Ltd | 7,521 | 2,155 | ||||||
| Samsung Electronics Co Ltd | 599,834 | 70,157 | ||||||
| SFA Engineering Corp | 68,136 | 1,192 | ||||||
| SK hynix Inc | 64,097 | 36,366 | ||||||
| 112,965 | ||||||||
| Materials — 0.1% | ||||||||
| LG Chem Ltd | 10,234 | 2,092 | ||||||
| Total South Korea | 219,443 | |||||||
| Taiwan — 19.5% | ||||||||
| Communication Services — 0.2% | ||||||||
| Chunghwa Telecom Co Ltd | 712,041 | 2,968 | ||||||
| International Games System Co Ltd | 19,700 | 471 | ||||||
| 3,439 | ||||||||
| Consumer Discretionary — 0.3% | ||||||||
| Far Eastern Department Stores Ltd | 750,600 | 538 | ||||||
| Fusheng Precision Co Ltd | 39,835 | 325 | ||||||
| Merry Electronics Co Ltd | 216,900 | 578 | ||||||
| Pou Chen Corp | 377,100 | 338 | ||||||
| Poya International Co Ltd | 161,000 | 2,501 | ||||||
| 4,280 | ||||||||
| Consumer Staples — 0.6% | ||||||||
| Uni-President Enterprises Corp | 4,110,990 | 9,183 | ||||||
| Financials — 0.6% | ||||||||
| Cathay Financial Holding Co Ltd | 1,374,880 | 3,074 | ||||||
| CTBC Financial Holding Co Ltd | 3,970,000 | 6,452 | ||||||
| 9,526 | ||||||||
| Industrials — 0.8% | ||||||||
| Bizlink Holding Inc | 28,300 | 1,625 | ||||||
| CyberPower Systems Inc | 36,572 | 197 | ||||||
| Eva Airways Corp | 2,356,934 | 2,539 | ||||||
| Kaori Heat Treatment Co Ltd | 63,000 | 1,764 | ||||||
| Sincere Navigation Corp | 1,674,814 | 2,217 | ||||||
| Sunonwealth Electric Machine Industry Co Ltd | 134,905 | 535 | ||||||
| United Integrated Services Co Ltd | 39,100 | 1,039 | ||||||
| Voltronic Power Technology Corp | 85,280 | 1,977 | ||||||
| 11,893 | ||||||||
| SEI Institutional International Trust | 27 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
Emerging Markets Equity Fund (Continued)
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK†† (continued) | ||||||||
| Information Technology — 17.0% | ||||||||
| Accton Technology Corp | 11,799 | $ | 582 | |||||
| Advantech Co Ltd | 734,908 | 7,536 | ||||||
| AP Memory Technology Corp | 47,000 | 684 | ||||||
| Ardentec Corp | 151,399 | 759 | ||||||
| ASE Technology Holding Co Ltd | 123,200 | 1,356 | ||||||
| ASPEED Technology Inc | 7,000 | 2,413 | ||||||
| Asustek Computer Inc | 354,000 | 6,217 | ||||||
| AURAS Technology Co Ltd | 64,000 | 1,842 | ||||||
| Chroma ATE Inc | 83,900 | 4,026 | ||||||
| Compeq Manufacturing Co Ltd | 72,900 | 586 | ||||||
| Delta Electronics Inc | 339,281 | 15,298 | ||||||
| Genius Electronic Optical Co Ltd | 51,631 | 722 | ||||||
| Grand Process Technology Corp | 35,000 | 3,150 | ||||||
| Hon Hai Precision Industry Co Ltd | 562,479 | 3,438 | ||||||
| King Slide Works Co Ltd | 11,000 | 1,140 | ||||||
| King Yuan Electronics Co Ltd | 62,000 | 530 | ||||||
| Largan Precision Co Ltd | 18,238 | 1,251 | ||||||
| MediaTek Inc | 188,311 | 9,032 | ||||||
| Nan Ya Printed Circuit Board Corp | 90,000 | 1,552 | ||||||
| Simplo Technology Co Ltd | 52,400 | 552 | ||||||
| Sinbon Electronics Co Ltd | 252,000 | 2,019 | ||||||
| Synnex Technology International Corp | 327,200 | 788 | ||||||
| Taiwan Semiconductor Manufacturing Co Ltd | 2,648,141 | 153,154 | ||||||
| Taiwan Semiconductor Manufacturing Co Ltd ADR | 69,482 | 23,481 | ||||||
| Tripod Technology Corp | 235,463 | 2,572 | ||||||
| United Microelectronics Corp | 1,294,169 | 2,320 | ||||||
| Universal Microwave Technology Inc | 43,000 | 1,996 | ||||||
| Win Semiconductors Corp | 190,000 | 2,202 | ||||||
| Wiwynn Corp | 57,400 | 6,177 | ||||||
| Yageo Corp | 609,293 | 4,815 | ||||||
| 262,190 | ||||||||
| Materials — 0.0% | ||||||||
| Tung Ho Steel Enterprise Corp | 149,400 | 319 | ||||||
| Real Estate — 0.0% | ||||||||
| Highwealth Construction Corp | 874,400 | 962 | ||||||
| Total Taiwan | 301,792 | |||||||
| Thailand — 1.1% | ||||||||
| Communication Services — 0.1% | ||||||||
| Advanced Info Service PCL NVDR | 75,600 | 863 | ||||||
| Energy — 0.5% | ||||||||
| PTT Exploration & Production PCL NVDR | 1,370,160 | 6,602 | ||||||
| Star Petroleum Refining PCL NVDR | 8,126,000 | 1,730 | ||||||
| 8,332 | ||||||||
| Financials — 0.4% | ||||||||
| Kasikornbank PCL NVDR | 1,109,100 | 6,471 | ||||||
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK†† (continued) | ||||||||
| Industrials — 0.1% | ||||||||
| Airports of Thailand PCL NVDR | 671,600 | $ | 1,071 | |||||
| Total Thailand | 16,737 | |||||||
| Turkey — 0.5% | ||||||||
| Communication Services — 0.0% | ||||||||
| Turkcell Iletisim Hizmetleri AS | 126,706 | 303 | ||||||
| Consumer Discretionary — 0.0% | ||||||||
| Mavi Giyim Sanayi Ve Ticaret AS, Cl B | 188,600 | 179 | ||||||
| Financials — 0.2% | ||||||||
| Haci Omer Sabanci Holding AS | 1,089,079 | 2,201 | ||||||
| Turkiye Is Bankasi AS, Cl C | 162,240 | 48 | ||||||
| Yapi ve Kredi Bankasi AS * | 2,030,610 | 1,520 | ||||||
| 3,769 | ||||||||
| Industrials — 0.2% | ||||||||
| Astor Transformator Enerji Turizm Insaat Ve Petrol Sanayi Ticaret AS | 541,435 | 2,384 | ||||||
| Turk Hava Yollari AO | 64,700 | 429 | ||||||
| 2,813 | ||||||||
| Real Estate — 0.1% | ||||||||
| Emlak Konut Gayrimenkul Yatirim Ortakligi AS ‡ | 2,515,911 | 1,086 | ||||||
| Total Turkey | 8,150 | |||||||
| United Arab Emirates — 1.7% | ||||||||
| Financials — 0.5% | ||||||||
| Dubai Islamic Bank PJSC | 595,523 | 1,208 | ||||||
| Emirates NBD Bank PJSC | 529,754 | 3,991 | ||||||
| First Abu Dhabi Bank PJSC | 628,256 | 2,981 | ||||||
| 8,180 | ||||||||
| Industrials — 0.2% | ||||||||
| Air Arabia PJSC | 1,359,022 | 1,517 | ||||||
| Dubai Investments PJSC | 1,026,200 | 1,073 | ||||||
| 2,590 | ||||||||
| Real Estate — 1.0% | ||||||||
| Aldar Properties PJSC | 256,200 | 554 | ||||||
| Emaar Development PJSC | 1,225,566 | 4,639 | ||||||
| Emaar Properties PJSC | 3,228,867 | 10,566 | ||||||
| 15,759 | ||||||||
| Total United Arab Emirates | 26,529 | |||||||
| United Kingdom — 0.4% | ||||||||
| Consumer Staples — 0.4% | ||||||||
| Unilever PLC | 119,709 | 6,548 | ||||||
| United States — 0.4% | ||||||||
| Information Technology — 0.2% | ||||||||
| EPAM Systems Inc * | 25,938 | 3,512 | ||||||
| 28 | SEI Institutional International Trust |
| Description | Shares |
Market Value ($ Thousands) |
||||||
| COMMON STOCK†† (continued) | ||||||||
| Materials — 0.2% | ||||||||
| Titan SA | 43,499 | $ | 2,273 | |||||
| Total United States | 5,785 | |||||||
| Vietnam — 0.3% | ||||||||
| Real Estate — 0.3% | ||||||||
| Vinhomes JSC * | 1,033,300 | 4,045 | ||||||
| Total Common Stock | ||||||||
| (Cost $1,052,120) ($ Thousands) | 1,454,461 | |||||||
| PREFERRED STOCK — 3.3% | ||||||||
| Brazil — 1.1% | ||||||||
| Consumer Discretionary — 0.0% | ||||||||
| Cyrela Brazil Realty SA Empreendimentos e Participacoes*(B) | 53,658 | 261 | ||||||
| Energy — 0.5% | ||||||||
| Petroleo Brasileiro SA - Petrobras(B) | 840,137 | 7,816 | ||||||
| Financials — 0.5% | ||||||||
| Banco Bradesco SA (B) | 1,206,200 | 4,430 | ||||||
| Itausa SA(B) | 1,302,413 | 3,472 | ||||||
| 7,902 | ||||||||
| Materials — 0.1% | ||||||||
| Bradespar SA(B) | 303,363 | 1,344 | ||||||
| Preferred Stock — 0.0% | ||||||||
| Metalurgica Gerdau SA, Cl A(B) | 109,200 | 178 | ||||||
| Total Brazil | 17,501 | |||||||
| Colombia — 0.2% | ||||||||
| Financials — 0.2% | ||||||||
| Grupo Cibest SA(B) | 137,900 | 2,544 | ||||||
| South Korea — 2.0% | ||||||||
| Consumer Discretionary — 0.4% | ||||||||
| Hyundai Motor Co (B) | 36,476 | 5,740 | ||||||
| LG Electronics Inc(B) | 31,728 | 1,015 | ||||||
| 6,755 | ||||||||
| Information Technology — 1.5% | ||||||||
| Samsung Electronics Co Ltd(B) | 288,605 | 23,297 | ||||||
| Materials — 0.1% | ||||||||
| LG Chem Ltd(B) | 10,949 | 1,074 | ||||||
| Total South Korea | 31,126 | |||||||
| Total Preferred Stock | ||||||||
| (Cost $35,365) ($ Thousands) | 51,171 | |||||||
| Description |
Face Amount (Thousands) |
Market Value ($ Thousands) |
||||||
| DEBENTURE BOND — 0.0% | ||||||||
| Brazil — 0.0% | ||||||||
| Vale SA, Ser 1997 | ||||||||
| 1.955%, 03/31/2175 (C)(D) | BRL | 8 | $ | 1 | ||||
| Total Debenture Bond | ||||||||
| (Cost $—) ($ Thousands) | 1 | |||||||
| Shares | ||||||||
| CASH EQUIVALENT — 1.2% | ||||||||
| SEI Daily Income Trust, Government Fund, Institutional Class 3.540%** | 18,558,370 | 18,558 | ||||||
| Total Cash Equivalent | ||||||||
| (Cost $18,558) ($ Thousands) | 18,558 | |||||||
| Total Investments in Securities — 98.7% | ||||||||
| (Cost $1,106,043) ($ Thousands) | $ | 1,524,191 | ||||||
| SEI Institutional International Trust | 29 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
Emerging Markets Equity Fund (Concluded)
A list of the open futures contracts held by the Fund at March 31, 2026, is as follows:
| Type of Contract |
Number of Contracts |
Expiration Date |
Notional Amount (Thousands) |
Value (Thousands) |
Unrealized Depreciation(Thousands) |
||||||||||||||
| Long Contracts | |||||||||||||||||||
| MSCI Emerging Markets Index | 274 | Jun-2026 | $ | 20,523 | $ | 19,928 | $ | (595 | ) | ||||||||||
Percentages are based on Net Assets of $1,543,748 ($ Thousands).
| * | Non-income producing security. |
| ** | The rate reported is the 7-day effective yield as of March 31, 2026. |
| † | Investment in Affiliated Security (see Note 5). |
| †† | Narrow industries are utilized for compliance purposes, whereas broad sectors are utilized for reporting. |
| ‡ | Real Estate Investment Trust. |
| (A) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
| (B) | No interest rate available. |
| (C) | Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates. |
| (D) | Perpetual security with no stated maturity date. |
The following is a summary of the level of inputs used as of March 31, 2026, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Investments in Securities | ($) | ($) | ($)(1) | ($) | ||||||||||||
| Common Stock | 264,907 | 1,189,554 | – | ^ | 1,454,461 | |||||||||||
| Preferred Stock | 17,240 | 33,931 | – | 51,171 | ||||||||||||
| Debenture Bond | – | 1 | – | 1 | ||||||||||||
| Cash Equivalent | 18,558 | – | – | 18,558 | ||||||||||||
| Total Investments in Securities | 300,705 | 1,223,486 | – | 1,524,191 | ||||||||||||
| Other Financial Instruments | Level
1 ($) |
Level
2 ($) |
Level
3 ($) |
Total ($) |
||||||||||||
| Futures Contracts* | ||||||||||||||||
| Unrealized Depreciation | (595 | ) | – | – | (595 | ) | ||||||||||
| Total Other Financial Instruments | (595 | ) | – | – | (595 | ) | ||||||||||
| (1) | A reconciliation of Level 3 instruments is presented when the Fund has a significant amount of Level 3 investments at the end of the period in relation to the net assets. Management has concluded that Level 3 investments are not material in relation to net assets. |
| ^ | This category includes securities with a value of $0. |
| * | Futures contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.
The following is a summary of the Fund’s transactions with affiliates for the period ended March 31, 2026 ($ Thousands):
| Security Description | Value 9/30/2025 | Purchases at Cost | Proceeds from Sales | Realized Gain (Loss) | Change in Unrealized Appreciation (Depreciation) | Value 3/31/2026 | Income | Capital Gains | ||||||||||||||||||||||||
| SEI Daily Income Trust, Government Fund, Institutional Class | $ | 21,557 | $ | 188,315 | $ | (191,314 | ) | $ | — | $ | — | $ | 18,558 | $ | 258 | $ | — | |||||||||||||||
Amounts designated as “—” are $0 or have been rounded to $0.
See “Glossary” for abbreviations.
The accompanying notes are an integral part of the financial statements.
| 30 | SEI Institutional International Trust |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
International Fixed Income Fund
| Description |
Face Amount (Thousands) |
Market Value ($ Thousands) |
||||||
| GLOBAL BONDS — 80.5% | ||||||||
| Australia — 3.1% | ||||||||
| Amcor UK Finance | ||||||||
| 3.950%, 05/29/2032 | EUR | 650 | $ | 738 | ||||
| Australia Government Bond | ||||||||
| 4.750%, 06/21/2054 | AUD | 4,100 | 2,557 | |||||
| 4.500%, 04/21/2033 | 887 | 596 | ||||||
| 4.250%, 03/21/2036 | 450 | 291 | ||||||
| 3.500%, 12/21/2034 | 824 | 507 | ||||||
| 3.000%, 03/21/2047 | 532 | 257 | ||||||
| 2.750%, 05/21/2041 | 1,645 | 842 | ||||||
| 2.500%, 05/21/2030 | 2,244 | 1,413 | ||||||
| 2.250%, 05/21/2028 | 2,233 | 1,455 | ||||||
| New South Wales Treasury | ||||||||
| 4.750%, 02/20/2035 | 878 | 570 | ||||||
| 3.500%, 11/20/2037 | 469 | 259 | ||||||
| 2.000%, 03/08/2033 | 1,010 | 561 | ||||||
| Queensland Treasury | ||||||||
| 2.000%, 08/22/2033 | 451 | 246 | ||||||
| South Australian Government Financing Authority | ||||||||
| 4.750%, 05/24/2038 | 1,002 | 623 | ||||||
| Treasury Corp of Victoria MTN | ||||||||
| 2.000%, 11/20/2037 | 2,435 | 1,127 | ||||||
| 12,042 | ||||||||
| Austria — 1.2% | ||||||||
| Mondi Finance MTN | ||||||||
| 3.750%, 05/18/2033 | EUR | 400 | 446 | |||||
| Republic of Austria Government Bond | ||||||||
| 4.150%, 03/15/2037(A) | 692 | 853 | ||||||
| 3.200%, 07/15/2039 | 404 | 449 | ||||||
| 3.150%, 06/20/2044(A) | 955 | 1,024 | ||||||
| 0.900%, 02/20/2032(A) | 1,026 | 1,049 | ||||||
| 0.250%, 10/20/2036(A) | 539 | 450 | ||||||
| 0.000%, 10/20/2040(A)(B) | 455 | 313 | ||||||
| 4,584 | ||||||||
| Belgium — 0.9% | ||||||||
| Anheuser-Busch InBev MTN | ||||||||
| 3.950%, 03/22/2044 | 320 | 343 | ||||||
| 3.875%, 05/19/2038 | 340 | 381 | ||||||
| FLUVIUS System Operator MTN | ||||||||
| 3.875%, 05/02/2034 | 400 | 458 | ||||||
| Fluxys | ||||||||
| 4.000%, 11/28/2030 | 400 | 463 | ||||||
| Kingdom of Belgium Government Bond | ||||||||
| 4.250%, 03/28/2041(A) | 30 | 36 | ||||||
| 3.750%, 06/22/2045 | 401 | 439 | ||||||
| 3.000%, 06/22/2034(A) | 594 | 666 | ||||||
| 2.850%, 10/22/2034(A) | 34 | 38 | ||||||
| 2.700%, 10/22/2029(A) | 271 | 310 | ||||||
| 1.600%, 06/22/2047(A) | 41 | 30 | ||||||
| Description |
Face Amount (Thousands) |
Market Value ($ Thousands) |
||||||
| GLOBAL BONDS (continued) | ||||||||
| Syensqo | ||||||||
| 4.000%, 05/28/2035 | EUR | 200 | $ | 223 | ||||
| 3,387 | ||||||||
| Canada — 4.2% | ||||||||
| Canada Housing Trust No. 1 | ||||||||
| 2.100%, 09/15/2029(A) | CAD | 1,225 | 850 | |||||
| Canadian Government Bond | ||||||||
| 3.000%, 06/01/2034 | 607 | 424 | ||||||
| 2.750%, 06/01/2033 | 172 | 119 | ||||||
| 2.500%, 12/01/2032 | 1,351 | 925 | ||||||
| 2.250%, 06/01/2029 | 3,651 | 2,561 | ||||||
| 2.000%, 12/01/2051 | 1,565 | 780 | ||||||
| 1.500%, 06/01/2026 | 573 | 410 | ||||||
| Canadian Imperial Bank of Commerce | ||||||||
| 6.500%, H15T5Y + 2.727%, 07/28/2086 (C) | $ | 240 | 235 | |||||
| CI Financial | ||||||||
| 4.625%, 12/12/2031(A) | EUR | 170 | 196 | |||||
| Gildan Activewear | ||||||||
| 4.700%, 10/07/2030(A) | $ | 290 | 287 | |||||
| Province of British Columbia Canada | ||||||||
| 4.000%, 06/18/2035 | CAD | 8,600 | 6,200 | |||||
| Province of Ontario Canada | ||||||||
| 4.700%, 06/02/2037 | 570 | 429 | ||||||
| 4.650%, 06/02/2041 | 540 | 396 | ||||||
| 2.900%, 12/02/2046 | 1,419 | 780 | ||||||
| 2.800%, 06/02/2048 | 1,540 | 819 | ||||||
| Province of Quebec Canada | ||||||||
| 6.250%, 06/01/2032 | 720 | 593 | ||||||
| 3.500%, 12/01/2048 | 635 | 374 | ||||||
| 16,378 | ||||||||
| Chile — 0.6% | ||||||||
| Chile Government International Bond | ||||||||
| 3.875%, 04/14/2036 | EUR | 1,592 | 1,772 | |||||
| 3.800%, 07/01/2035 | 172 | 192 | ||||||
| Nacional del Cobre de Chile | ||||||||
| 5.950%, 01/08/2034(A) | $ | 295 | 302 | |||||
| 2,266 | ||||||||
| China — 4.4% | ||||||||
| Agricultural Bank of China MTN | ||||||||
| 2.800%, 07/31/2027 | CNY | 26,500 | 3,883 | |||||
| China Development Bank | ||||||||
| 4.300%, 08/02/2032 | 4,000 | 660 | ||||||
| China Development Bank MTN | ||||||||
| 2.600%, 04/23/2029 | 7,510 | 1,116 | ||||||
| China Government Bond | ||||||||
| 3.810%, 09/14/2050 | 12,430 | 2,269 | ||||||
| 2.850%, 06/04/2027 | 13,880 | 2,051 | ||||||
| 2.390%, 03/15/2029 | 40,000 | 5,955 | ||||||
| 2.110%, 08/25/2034 | 4,780 | 712 | ||||||
| SEI Institutional International Trust | 31 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
International Fixed Income Fund (Continued)
| Description |
Face Amount (Thousands) |
Market Value ($ Thousands) |
||||||
| GLOBAL BONDS (continued) | ||||||||
| 1.740%, 10/15/2029 | CNY | 1,740 | $ | 255 | ||||
| 16,901 | ||||||||
| Colombia — 2.0% | ||||||||
| Colombian TES | ||||||||
| 13.250%, 02/09/2033 | COP | 11,063,500 | 2,989 | |||||
| 12.500%, 02/27/2030 | 13,272,600 | 3,463 | ||||||
| 11.750%, 01/24/2035 | 2,041,000 | 516 | ||||||
| 7.750% 09/18/2030 | 1,455,000 | 320 | ||||||
| 7.000%, 03/26/2031 | 1,904,800 | 401 | ||||||
| 7,689 | ||||||||
| France — 5.5% | ||||||||
| Banque Federative du Credit Mutuel | ||||||||
| 3.875%, EUSA5 + 2.200%, 06/16/2032 (C) | EUR | 300 | 346 | |||||
| Banque Federative du Credit Mutuel MTN | ||||||||
| 3.750%, 02/03/2034 | 300 | 342 | ||||||
| BNP Paribas MTN | ||||||||
| 4.750%, EUR003M + 1.600%, 11/13/2032 (C) | 300 | 359 | ||||||
| BPCE | ||||||||
| 2.125%, EUSA5 + 1.800%, 10/13/2046 (C) | 1,400 | 1,408 | ||||||
| BPCE MTN | ||||||||
| 4.000%, EUR003M + 1.470%, 01/20/2034 (C) | 400 | 456 | ||||||
| Credit Agricole MTN | ||||||||
| 6.500%, EUAMDB05 + 4.207% (C)(D) | 400 | 475 | ||||||
| 4.375%, 11/27/2033 | 200 | 236 | ||||||
| Credit Agricole Assurances | ||||||||
| 4.750%, 09/27/2048(C) | 100 | 117 | ||||||
| Electricite de France MTN | ||||||||
| 7.500%, EUSA5 + 4.860% (C)(D) | 600 | 738 | ||||||
| 4.625%, 01/25/2043 | 900 | 1,014 | ||||||
| Engie MTN | ||||||||
| 4.500%, 09/06/2042 | 300 | 343 | ||||||
| French Republic Government Bond | ||||||||
| 3.500%, 11/25/2033(A) | 12,000 | 13,824 | ||||||
| Indigo Group SAS | ||||||||
| 4.500%, 04/18/2030 | 300 | 355 | ||||||
| TotalEnergies MTN | ||||||||
| 2.125%(C)(D) | 270 | 270 | ||||||
| TotalEnergies Capital International MTN | ||||||||
| 3.499%, 03/03/2037 | 500 | 546 | ||||||
| Ubisoft Entertainment | ||||||||
| 0.878%, 11/24/2027 | 500 | 464 | ||||||
| 21,293 | ||||||||
| Germany — 7.5% | ||||||||
| Bayer | ||||||||
| 7.000%, EUSA5 + 3.896%, | ||||||||
| 09/25/2083 (C) | 400 | 489 | ||||||
| Description |
Face Amount (Thousands) |
Market Value ($ Thousands) |
||||||
| GLOBAL BONDS (continued) | ||||||||
| Bundesrepublik Deutschland | ||||||||
| Bundesanleihe | ||||||||
| 4.000%, 01/04/2037 | EUR | 857 | $ | 1,071 | ||||
| 2.900%, 08/15/2056 | 399 | 411 | ||||||
| 2.600%, 08/15/2034 | 1,028 | 1,155 | ||||||
| 2.500%, 02/15/2035 | 944 | 1,049 | ||||||
| 2.200%, 02/15/2034 | 2,187 | 2,396 | ||||||
| 0.250%, 02/15/2029 | 1,500 | 1,617 | ||||||
| 0.000%, 08/15/2030(B) | 2,933 | 3,010 | ||||||
| Commerzbank | ||||||||
| 6.500%(C)(D) | 400 | 474 | ||||||
| Commerzbank MTN | ||||||||
| 7.875%, EUAMDB05 + 5.129% (C)(D) | 200 | 250 | ||||||
| Deutsche Bank | ||||||||
| 7.375%, EUAMDB05 + 5.112% (C)(D) | 400 | 477 | ||||||
| 5.000%, EUR003M + 2.950%, | ||||||||
| 09/05/2030 (C) | 300 | 358 | ||||||
| Deutsche Bank MTN | ||||||||
| 3.000%, EUR003M + 1.050%, | ||||||||
| 06/16/2029 (C) | 200 | 227 | ||||||
| 1.750%, 11/19/2030(C) | 900 | 963 | ||||||
| German Federal Government Bond | ||||||||
| 2.600%, 05/15/2041 | 11,200 | 11,804 | ||||||
| Kreditanstalt fuer Wiederaufbau | ||||||||
| 2.600%, 06/20/2037 | JPY | 207,000 | 1,327 | |||||
| Sartorius Finance BV | ||||||||
| 4.875%, 09/14/2035 | EUR | 200 | 238 | |||||
| 4.500%, 09/14/2032 | 100 | 118 | ||||||
| Volkswagen International Finance (D) | ||||||||
| 5.994%, EUAMDB08 + 3.494% (C) | 300 | 345 | ||||||
| 3.875%(C) | 200 | 222 | ||||||
| Wintershall Dea Finance 2 BV | ||||||||
| 3.000%(C)(D) | 800 | 879 | ||||||
| Wintershall Dea Finance BV | ||||||||
| 1.823%, 09/25/2031 | 400 | 406 | ||||||
| 29,286 | ||||||||
| Iceland — 0.6% | ||||||||
| Iceland Rikisbref | ||||||||
| 6.500%, 02/15/2038 | ISK | 320,453 | 2,489 | |||||
| Indonesia — 2.1% | ||||||||
| Indonesia Government International Bond | ||||||||
| 4.100%, 03/04/2034 | EUR | 955 | 1,057 | |||||
| Indonesia Treasury Bond | ||||||||
| 8.750%, 05/15/2031 | IDR | 8,446,000 | 547 | |||||
| 8.375%, 03/15/2034 | 35,672,000 | 2,286 | ||||||
| 7.500%, 06/15/2035 | 2,112,000 | 129 | ||||||
| 7.375%, 05/15/2048 | 11,736,000 | 720 | ||||||
| 7.000%, 09/15/2030 | 10,792,000 | 641 | ||||||
| 6.750%, 07/15/2035 | 7,157,000 | 417 | ||||||
| 6.625%, 02/15/2034 | 3,828,000 | 221 | ||||||
| 6.500%, 02/15/2031 | 11,676,000 | 682 | ||||||
| 6.375%, 08/15/2028 | 19,486,000 | 1,149 | ||||||
| 32 | SEI Institutional International Trust |
| Description |
Face Amount (Thousands) |
Market Value ($ Thousands) |
||||||
| GLOBAL BONDS (continued) | ||||||||
| 5.875%, 03/15/2031 | IDR | 1,669,000 | $ | 95 | ||||
| 5.500%, 04/15/2026 | 1,716,000 | 100 | ||||||
| 8,044 | ||||||||
| Italy — 2.6% | ||||||||
| ASTM MTN | ||||||||
| 2.375%, 11/25/2033 | EUR | 620 | 627 | |||||
| Autostrade per l'Italia MTN | ||||||||
| 4.625%, 02/28/2036 | 136 | 160 | ||||||
| 2.250%, 01/25/2032 | 720 | 758 | ||||||
| Intesa Sanpaolo | ||||||||
| 9.125%, EUAMDB05 + 6.262% (C)(D) | 200 | 257 | ||||||
| Intesa Sanpaolo MTN | ||||||||
| 4.875%, 05/19/2030 | 275 | 333 | ||||||
| Italy Buoni Poliennali Del Tesoro | ||||||||
| 5.750%, 02/01/2033 | 4,700 | 6,146 | ||||||
| 4.300%, 10/01/2054(A) | 770 | 852 | ||||||
| 3.650%, 08/01/2035(A) | 620 | 704 | ||||||
| Prysmian | ||||||||
| 5.250%, EUAMDB05 + 3.012% (C)(D) | 100 | 117 | ||||||
| 9,954 | ||||||||
| Japan — 12.4% | ||||||||
| Japan Government Forty Year Bond | ||||||||
| 2.200%, 03/20/2064 | JPY | 282,600 | 1,222 | |||||
| 1.400%, 03/20/2055 | 426,550 | 1,605 | ||||||
| Japan Government Ten Year Bond | ||||||||
| 1.400%, 03/20/2035 | 800,000 | 4,682 | ||||||
| 0.900%, 09/20/2034 | 96,700 | 547 | ||||||
| 0.100%, 09/20/2027 | 428,150 | 2,647 | ||||||
| Japan Government Thirty Year Bond | ||||||||
| 2.400%, 03/20/2055 | 167,300 | 813 | ||||||
| 2.300%, 03/20/2040 | 2,500,000 | 14,767 | ||||||
| 2.300%, 12/20/2054 | 146,350 | 695 | ||||||
| 2.100%, 09/20/2054 | 26,800 | 122 | ||||||
| 1.800%, 09/20/2053 | 261,000 | 1,112 | ||||||
| 1.800%, 03/20/2054 | 40,000 | 169 | ||||||
| 0.700%, 12/20/2051 | 241,000 | 773 | ||||||
| Japan Government Thirty Year Bond, Ser 29 | ||||||||
| 2.400%, 09/20/2038 | 44,850 | 274 | ||||||
| Japan Government Thirty Year Bond, Ser 30 | ||||||||
| 2.300%, 03/20/2039 | 140,000 | 839 | ||||||
| Japan Government Thirty Year Bond, Ser 36 | ||||||||
| 2.000%, 03/20/2042 | 338,250 | 1,857 | ||||||
| Japan Government Twenty Year Bond | ||||||||
| 1.800%, 09/20/2031 | 382,050 | 2,395 | ||||||
| 1.700%, 06/20/2033 | 503,500 | 3,095 | ||||||
| 1.400%, 09/20/2034 | 260,950 | 1,541 | ||||||
| 0.500%, 09/20/2036 | 270,950 | 1,402 | ||||||
| 0.200%, 06/20/2036 | 71,450 | 360 | ||||||
| Japan Government Twenty Year Bond, Ser 144 | ||||||||
| 1.500%, 03/20/2033 | 24,900 | 151 | ||||||
| Description |
Face Amount (Thousands) |
Market Value ($ Thousands) |
||||||
| GLOBAL BONDS (continued) | ||||||||
| Japan Government Two Year Bond | ||||||||
| 0.800%, 03/01/2027 | JPY | 1,100,000 | $ | 6,897 | ||||
| NTT Finance | ||||||||
| 4.091%, 07/16/2037(A) | EUR | 164 | 187 | |||||
| 48,152 | ||||||||
| Luxembourg — 0.3% | ||||||||
| Eurofins Scientific | ||||||||
| 4.750%, 09/06/2030 | 660 | 787 | ||||||
| JAB Holdings BV | ||||||||
| 4.750%, 06/29/2032 | 300 | 358 | ||||||
| SES MTN | ||||||||
| 4.875%, 06/24/2033 | 140 | 158 | ||||||
| 1,303 | ||||||||
| Malaysia — 1.3% | ||||||||
| Malaysia Government Bond | ||||||||
| 4.232%, 06/30/2031 | MYR | 4,761 | 1,219 | |||||
| 3.885%, 08/15/2029 | 2,710 | 681 | ||||||
| 3.828%, 07/05/2034 | 2,393 | 597 | ||||||
| 3.733%, 06/15/2028 | 1,988 | 496 | ||||||
| 3.519%, 04/20/2028 | 4,422 | 1,098 | ||||||
| 3.502% 05/31/2027 | 3,692 | 916 | ||||||
| 2.632%, 04/15/2031 | 953 | 227 | ||||||
| 5,234 | ||||||||
| Mexico — 3.6% | ||||||||
| Eagle Funding Luxco Sarl | ||||||||
| 5.500%, 08/17/2030(A) | $ | 1,800 | 1,809 | |||||
| Mexican Bonos | ||||||||
| 8.000%, 11/07/2047 | MXN | 4,945 | 229 | |||||
| 8.000%, 07/31/2053 | 71 | 3 | ||||||
| 7.750%, 11/23/2034 | 18,435 | 935 | ||||||
| 7.750%, 11/13/2042 | 33,463 | 1,539 | ||||||
| Mexican Bonos, Ser M30 | ||||||||
| 10.000% 11/20/2036 | 35,396 | 2,050 | ||||||
| 8.500%, 11/18/2038 | 5,718 | 291 | ||||||
| Mexico Government International Bond | ||||||||
| 4.875%, 05/16/2036 | EUR | 400 | 449 | |||||
| 4.500%, 03/19/2034 | 1,060 | 1,188 | ||||||
| 4.000%, 03/15/2115 | 2,530 | 1,898 | ||||||
| 3.875%, 05/16/2031 | 1,400 | 1,573 | ||||||
| Petroleos Mexicanos | ||||||||
| 6.700%, 02/16/2032 | $ | 1,385 | 1,355 | |||||
| 5.950%, 01/28/2031 | 758 | 725 | ||||||
| 14,044 | ||||||||
| Netherlands — 2.3% | ||||||||
| Cooperatieve Rabobank UA | ||||||||
| 4.375%(C)(D) | EUR | 200 | 231 | |||||
| Cooperatieve Rabobank UA MTN | ||||||||
| 1.250%, 05/31/2032 | 300 | 310 | ||||||
| CTP | ||||||||
| 4.250%, 03/10/2035 | 160 | 178 | ||||||
| SEI Institutional International Trust | 33 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
International Fixed Income Fund (Continued)
| Description |
Face Amount (Thousands) |
Market Value ($ Thousands) |
||||||
| GLOBAL BONDS (continued) | ||||||||
| ING Groep MTN | ||||||||
| 3.500%, EUR003M + 1.200%, 08/17/2036 (C) | EUR | 900 | $ | 984 | ||||
| Kingdom of Netherlands | ||||||||
| 3.750%, 01/15/2042(A) | 664 | 797 | ||||||
| Koninklijke KPN MTN | ||||||||
| 3.375%, 02/17/2035 | 400 | 438 | ||||||
| Netherlands Government Bond (A) | ||||||||
| 4.000%, 01/15/2037 | 236 | 292 | ||||||
| 2.500%, 01/15/2030 | 1,349 | 1,540 | ||||||
| 2.500%, 01/15/2033 | 2,775 | 3,112 | ||||||
| 2.500%, 07/15/2035 | 646 | 709 | ||||||
| 0.000%, 07/15/2030(B) | 234 | 240 | ||||||
| 8,831 | ||||||||
| New Zealand — 2.1% | ||||||||
| New Zealand Government Bond | ||||||||
| 4.500%, 04/15/2027 | NZD | 2,833 | 1,640 | |||||
| 4.500%, 05/15/2030 | 3,832 | 2,222 | ||||||
| 3.000%, 04/20/2029 | 805 | 448 | ||||||
| 2.750%, 04/15/2037 | 8 | 4 | ||||||
| 1.750%, 05/15/2041 | 10 | 4 | ||||||
| 0.250%, 05/15/2028 | 2,658 | 1,414 | ||||||
| New Zealand Government Inflation Linked Bond | ||||||||
| 2.500%, 09/20/2035 | 1,889 | 1,473 | ||||||
| 2.500%, 09/20/2040 | 716 | 524 | ||||||
| New Zealand Local Government Funding Agency Bond | ||||||||
| 4.500%, 04/15/2027 | 803 | 464 | ||||||
| 8,193 | ||||||||
| Norway — 1.4% | ||||||||
| Norway Government Bond (A) | ||||||||
| 2.125%, 05/18/2032 | NOK | 4,172 | 378 | |||||
| 2.000%, 04/26/2028 | 2,624 | 257 | ||||||
| 1.750%, 02/17/2027 | 10,363 | 1,040 | ||||||
| 1.750%, 09/06/2029 | 7,731 | 727 | ||||||
| 1.375%, 08/19/2030 | 14,767 | 1,336 | ||||||
| 1.250%, 09/17/2031 | 13,740 | 1,200 | ||||||
| Var Energi | ||||||||
| 7.862%, EUAMDB05 + 4.765%, 11/15/2083 (C) | EUR | 410 | 510 | |||||
| 5,448 | ||||||||
| Poland — 2.4% | ||||||||
| Republic of Poland Government Bond | ||||||||
| 6.000%, 10/25/2033 | PLN | 1,267 | 347 | |||||
| 5.000%, 10/25/2034 | 3,978 | 1,015 | ||||||
| 2.000%, 08/25/2036 | 14,170 | 3,701 | ||||||
| Republic of Poland Government International Bond MTN | ||||||||
| 3.625%, 06/15/2036 | EUR | 1,230 | 1,377 | |||||
| Description |
Face Amount (Thousands) |
Market Value ($ Thousands) |
||||||
| GLOBAL BONDS (continued) | ||||||||
| 2.875%, 01/15/2031 | EUR | 2,470 | $ | 2,789 | ||||
| 9,229 | ||||||||
| Romania — 1.0% | ||||||||
| Romanian Government International Bond | ||||||||
| 5.750%, 07/04/2036(A) | $ | 630 | 584 | |||||
| 4.625%, 03/04/2033(A) | EUR | 910 | 979 | |||||
| 2.625%, 12/02/2040 | 2,340 | 1,689 | ||||||
| Romanian Government International Bond MTN | ||||||||
| 3.375%, 01/28/2050 | 1,030 | 721 | ||||||
| 3,973 | ||||||||
| South Korea — 0.7% | ||||||||
| Korea Treasury Bond | ||||||||
| 3.500%, 06/10/2034 | KRW | 169,850 | 108 | |||||
| 3.375%, 06/10/2032 | 597,740 | 380 | ||||||
| 3.125%, 09/10/2027 | 1,341,070 | 874 | ||||||
| 2.000%, 06/10/2031 | 1,865,420 | 1,113 | ||||||
| 1.875%, 06/10/2029 | 412,770 | 255 | ||||||
| 2,730 | ||||||||
| Spain — 3.2% | ||||||||
| Banco Santander | ||||||||
| 0.250%, 07/10/2029 | EUR | 400 | 422 | |||||
| Banco Santander MTN | ||||||||
| 5.750%, EUSA5 + 2.850%, | ||||||||
| 08/23/2033 (C) | 300 | 358 | ||||||
| CaixaBank | ||||||||
| 1.250%, 01/11/2027 | 300 | 342 | ||||||
| CaixaBank MTN | ||||||||
| 5.125%, EUR003M + 1.950%, 07/19/2034 (C) | 200 | 247 | ||||||
| 5.000%, EUR003M + 1.650%, 07/19/2029 (C) | 200 | 239 | ||||||
| Cepsa Finance MTN | ||||||||
| 4.125%, 04/11/2031 | 300 | 346 | ||||||
| Spanish Government Bond | ||||||||
| 3.000%, 01/31/2033 | 9,000 | 10,251 | ||||||
| Werfen MTN | ||||||||
| 3.625%, 02/12/2032 | 100 | 113 | ||||||
| 12,318 | ||||||||
| Supranational — 1.2% | ||||||||
| European Union | ||||||||
| 3.250%, 12/12/2036 | 3,000 | 3,378 | ||||||
| European Union Bill | ||||||||
| 0.000%, 12/04/2026(E)(F) | 1,200 | 1,360 | ||||||
| 4,738 | ||||||||
| Supra-National — 2.8% | ||||||||
| Asian Development Bank MTN | ||||||||
| 2.350%, 06/21/2027 | JPY | 330,000 | 2,106 | |||||
| European Investment Bank | ||||||||
| 5.625%, 06/07/2032 | GBP | 768 | 1,066 | |||||
| 34 | SEI Institutional International Trust |
| Description |
Face Amount (Thousands) |
Market Value ($ Thousands) |
||||||
| GLOBAL BONDS (continued) | ||||||||
| European Union | ||||||||
| 3.000%, 03/04/2053 | EUR | 1,805 | $ | 1,714 | ||||
| European Union MTN | ||||||||
| 3.375%, 12/12/2035 | 2,947 | 3,387 | ||||||
| European Union Bill | ||||||||
| 0.000%, 09/04/2026(E)(F) | 722 | 824 | ||||||
| International Bank for Reconstruction & Development MTN | ||||||||
| 4.200%, 04/21/2033 | AUD | 2,689 | 1,717 | |||||
| 10,814 | ||||||||
| Switzerland — 0.9% | ||||||||
| Government of Switzerland | ||||||||
| 3.500%, 04/08/2033 | CHF | 1,664 | 2,536 | |||||
| Swisscom Finance BV MTN | ||||||||
| 3.500%, 11/29/2031 | EUR | 460 | 529 | |||||
| UBS Group | ||||||||
| 7.000%, USISSO05 + 3.296% (A)(C)(D) | $ | 300 | 292 | |||||
| UBS Group MTN | ||||||||
| 4.625%, EUAMDB01 + 1.150%, 03/17/2028 (C) | EUR | 265 | 309 | |||||
| 3,666 | ||||||||
| United Kingdom — 6.6% | ||||||||
| Barclays | ||||||||
| 9.250%, BPISDS05 + 5.639% (C)(D) | GBP | 350 | 486 | |||||
| 4.347%, EUAMDB01 + 1.550%, 05/08/2035 (C) | EUR | 100 | 116 | |||||
| 3.941%, EUAMDB01 + 1.550%, 01/31/2036 (C) | 220 | 246 | ||||||
| Bunzl Finance MTN | ||||||||
| 3.375%, 04/09/2032 | 430 | 476 | ||||||
| Cadent Finance MTN | ||||||||
| 3.750%, 04/16/2033 | 390 | 441 | ||||||
| 0.750%, 03/11/2032 | 355 | 343 | ||||||
| Centrica | ||||||||
| 6.500%, GUKG5 + 2.512%, 05/21/2055 (C) | GBP | 350 | 463 | |||||
| Centrica MTN | ||||||||
| 4.375%, 03/13/2029 | 179 | 232 | ||||||
| DS Smith MTN | ||||||||
| 4.500%, 07/27/2030 | EUR | 440 | 518 | |||||
| HSBC Holdings | ||||||||
| 6.364%, EUSA5 + 3.300%, | ||||||||
| 11/16/2032 (C) | 249 | 297 | ||||||
| HSBC Holdings MTN | ||||||||
| 3.911%, EUR003M + 1.540%, 05/13/2034 (C) | 260 | 296 | ||||||
| Informa MTN | ||||||||
| 3.375%, 06/09/2031 | 200 | 224 | ||||||
| 3.250%, 10/23/2030 | 290 | 324 | ||||||
| Motability Operations Group MTN | ||||||||
| 3.875%, 01/24/2034 | 320 | 362 | ||||||
| Description |
Face Amount (Thousands) |
Market Value ($ Thousands) |
||||||
| GLOBAL BONDS (continued) | ||||||||
| National Grid MTN | ||||||||
| 4.275%, 01/16/2035 | EUR | 370 | $ | 430 | ||||
| United Kingdom Gilt | ||||||||
| 4.750%, 10/22/2035 | 9,000 | 11,714 | ||||||
| 4.500%, 09/07/2034 | GBP | 258 | 334 | |||||
| 4.500%, 03/07/2035 | 330 | 424 | ||||||
| 4.375%, 01/31/2040 | 336 | 406 | ||||||
| 4.375%, 07/31/2054 | 300 | 329 | ||||||
| 4.250%, 06/07/2032 | 1,232 | 1,601 | ||||||
| 4.250%, 07/31/2034 | 686 | 871 | ||||||
| 4.250%, 12/07/2046 | 440 | 492 | ||||||
| 4.250%, 12/07/2049 | 836 | 920 | ||||||
| 3.750%, 01/29/2038 | 443 | 514 | ||||||
| 3.500%, 01/22/2045 | 292 | 296 | ||||||
| 1.250%, 07/31/2051 | 3,156 | 1,742 | ||||||
| 0.500%, 01/31/2029 | 351 | 416 | ||||||
| Vodafone Group MTN | ||||||||
| 4.625%, EUAMDB05 + 2.143%, 09/12/2055 (C) | EUR | 380 | 421 | |||||
| 25,734 | ||||||||
| United States — 3.6% | ||||||||
| Amazon.com | ||||||||
| 4.050%, 03/16/2039 | 321 | 363 | ||||||
| 3.700%, 03/16/2035 | 390 | 444 | ||||||
| American National Group | ||||||||
| 6.000%, 07/15/2035 | $ | 210 | 205 | |||||
| Aptiv Swiss Holdings | ||||||||
| 4.250%, 06/11/2036 | EUR | 291 | 325 | |||||
| Avery Dennison | ||||||||
| 4.000%, 09/11/2035 | 107 | 121 | ||||||
| Baker Hughes Holdings | ||||||||
| 4.737%, 03/11/2046 | 144 | 164 | ||||||
| 4.193%, 03/11/2038 | 133 | 151 | ||||||
| 3.812%, 03/11/2034 | 122 | 139 | ||||||
| Becton Dickinson | ||||||||
| 3.828%, 06/07/2032 | 291 | 334 | ||||||
| BMS Ireland Capital Funding DAC | ||||||||
| 4.581%, 11/10/2055 | 224 | 251 | ||||||
| 3.363%, 11/10/2033 | 204 | 228 | ||||||
| Charter Communications Operating | ||||||||
| 5.850%, 12/01/2035 | $ | 155 | 152 | |||||
| Citadel Finance | ||||||||
| 5.900%, 02/10/2030(A) | 1,000 | 1,005 | ||||||
| Citigroup | ||||||||
| 4.113%, EUR003M + 1.582%, | ||||||||
| 04/29/2036 (C) | EUR | 380 | 435 | |||||
| 3.493%, EUR003M + 1.030%, | ||||||||
| 10/22/2034 (C) | 640 | 708 | ||||||
| Fiserv Funding ULC | ||||||||
| 4.000%, 06/15/2036 | 193 | 210 | ||||||
| Ford Motor Credit | ||||||||
| 7.122%, 11/07/2033 | $ | 280 | 294 | |||||
| SEI Institutional International Trust | 35 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
International Fixed Income Fund (Continued)
| Description |
Face Amount (Thousands) |
Market Value ($ Thousands) |
||||||
| GLOBAL BONDS (continued) | ||||||||
| Foundry JV Holdco | ||||||||
| 6.200%, 01/25/2037(A) | $ | 250 | $ | 258 | ||||
| GA Global Funding Trust MTN | ||||||||
| 4.133%, 09/16/2035 | EUR | 320 | 346 | |||||
| Global Payments | ||||||||
| 4.875%, 03/17/2031 | 359 | 421 | ||||||
| GLP Capital | ||||||||
| 5.750%, 11/01/2037 | $ | 271 | 262 | |||||
| Goldman Sachs Group MTN | ||||||||
| 3.984%, EUR003M + 1.100%, 12/18/2036 (C) | EUR | 580 | 650 | |||||
| Huntington Bancshares | ||||||||
| 5.605%, H15T5Y + 1.350%, 01/28/2041 (C) | $ | 210 | 205 | |||||
| Intel | ||||||||
| 5.600%, 02/21/2054 | 406 | 372 | ||||||
| Medtronic | ||||||||
| 4.150%, 10/15/2043 | EUR | 428 | 471 | |||||
| Medtronic Global Holdings SCA | ||||||||
| 1.125%, 03/07/2027 | 400 | 454 | ||||||
| Meta Platforms | ||||||||
| 4.600%, 11/15/2032 | $ | 460 | 455 | |||||
| Morgan Stanley | ||||||||
| 4.813%, EUR003M + 1.762%, 10/25/2028 (C) | EUR | 435 | 512 | |||||
| 4.099%, EUR003M + 1.553%, 05/22/2036 (C) | 260 | 297 | ||||||
| 3.790%, EUR003M + 1.037%, 03/21/2030 (C) | 136 | 158 | ||||||
| 0.406%, 10/29/2027(C) | 370 | 420 | ||||||
| Morgan Stanley MTN | ||||||||
| 3.981%, EUR003M + 1.143%, 01/23/2037 (C) | 115 | 129 | ||||||
| National Grid North America MTN | ||||||||
| 4.668%, 09/12/2033 | 252 | 303 | ||||||
| NextEra Energy Capital Holdings | ||||||||
| 4.750%, EUAMDB05 + 1.993%, 02/26/2056 (C) | 213 | 236 | ||||||
| 4.496%, EUAMDB05 + 1.900%, 05/15/2056 (C) | 301 | 334 | ||||||
| Oncor Electric Delivery | ||||||||
| 3.625%, 06/15/2034 | 350 | 393 | ||||||
| Oracle | ||||||||
| 6.850%, 02/04/2066 | $ | 220 | 202 | |||||
| 5.950%, 09/26/2055 | 159 | 134 | ||||||
| 5.700%, 02/04/2036 | 290 | 279 | ||||||
| 5.200%, 09/26/2035 | 150 | 141 | ||||||
| Realty Income | ||||||||
| 5.125%, 07/06/2034 | EUR | 114 | 139 | |||||
| 3.875%, 06/20/2035 | 152 | 167 | ||||||
| Vertiv Holdings | ||||||||
| 5.950%, 03/15/2066 | $ | 140 | 134 | |||||
| 5.800%, 03/15/2056 | 240 | 231 | ||||||
| Description |
Face Amount (Thousands) |
Market Value ($ Thousands) |
||||||
| GLOBAL BONDS (continued) | ||||||||
| WP Carey | ||||||||
| 3.700%, 11/19/2034 | EUR | 218 | $ | 237 | ||||
| 13,869 | ||||||||
| Total Global Bonds | ||||||||
| (Cost $333,117) ($ Thousands) | 312,589 | |||||||
| U.S. TREASURY OBLIGATIONS — 5.7% | ||||||||
| U.S. Treasury Note | ||||||||
| 4.500%, 02/15/2044 | 9,300 | 8,909 | ||||||
| 3.750%, 04/30/2027 | $ | 6,750 | 6,747 | |||||
| 2.250%, 11/15/2027 | 6,610 | 6,446 | ||||||
| Total U.S. Treasury Obligations | ||||||||
| (Cost $22,053) ($ Thousands) | 22,102 | |||||||
| MORTGAGE-BACKED SECURITIES — 1.3% | ||||||||
| Agency Mortgage-Backed Obligations — 0.3% | ||||||||
| GNMA TBA | ||||||||
| 3.500%, 04/15/2041 | 1,000 | 917 | ||||||
| 917 | ||||||||
| Non-Agency Mortgage-Backed Obligations — 1.0% | ||||||||
| FNMA or FHLMC TBA | ||||||||
| 5.500%, 04/30/2035 | 4,000 | 4,018 | ||||||
| 4,018 | ||||||||
| Total Mortgage-Backed Securities | ||||||||
| (Cost $4,955) ($ Thousands) | 4,935 | |||||||
| CERTIFICATE OF DEPOSIT — 3.8% | ||||||||
| National Australia Bank | ||||||||
| 6.118%, 09/07/2026 | $ | 22,000 | 14,787 | |||||
| Total Certificate of Deposit | ||||||||
| (Cost $15,138) ($ Thousands) | 14,787 | |||||||
| PURCHASED SWAPTIONS — 0.0% | ||||||||
| Total Purchased Swaptions | ||||||||
| (Cost $71) ($ Thousands) | 98 | |||||||
| Total Investments in Securities — 91.3% | ||||||||
| (Cost $375,334) ($ Thousands) | $ | 354,511 | ||||||
| 36 | SEI Institutional International Trust |
A list of open over the counter swaptions contracts for the Fund at March 31, 2026, is as follows:
| Description | Counterparty |
Number of Contracts/ Notional Amount |
Exercise Price | Expiration Date |
Value (Thousands) |
|||||||||||
| PURCHASED SWAPTIONS — 0.0% | ||||||||||||||||
| Put Swaptions | ||||||||||||||||
| Swaption | Morgan Stanley | $ | 7,500,000 | $ | 3.49 | 06/03/2026 | $ | 84 | ||||||||
| Call Swaptions | ||||||||||||||||
| Swaption | Morgan Stanley | 7,500,000 | 3.19 | 06/03/2026 | 14 | |||||||||||
| Total Purchased Swaptions | $ | 15,000,000 | $ | 98 | ||||||||||||
A list of the open futures contracts held by the Fund at March 31, 2026, is as follows:
| Type of Contract |
Number of Contracts |
Expiration Date |
Notional Amount (Thousands) |
Value (Thousands) |
Unrealized Appreciation (Depreciation)(Thousands) |
||||||||||||
| Long Contracts | |||||||||||||||||
| Canadian 10-Year Bonds | 67 | Jun-2026 | $ | 5,966 | $ | 5,761 | $ | (99 | ) | ||||||||
| Euro-BOBL | 34 | Jun-2026 | 4,575 | 4,522 | (49 | ) | |||||||||||
| Euro-BOBL | 40 | Jun-2026 | 5,333 | 5,320 | 16 | ||||||||||||
| Euro-BUND 10-Year Bonds | 1 | Jun-2026 | 144 | 144 | – | ||||||||||||
| Euro-SCHATZ | 97 | Jun-2026 | 12,113 | 11,819 | (130 | ) | |||||||||||
| Korea 10-Year Bonds | 75 | Jun-2026 | 5,586 | 5,319 | (82 | ) | |||||||||||
| Long GILT 10-Year Bonds | 26 | Jun-2026 | 3,219 | 3,010 | (146 | ) | |||||||||||
| U.S. Ultra Long Treasury Bonds | 2 | Jun-2026 | 233 | 233 | – | ||||||||||||
| 37,169 | 36,128 | (490 | ) | ||||||||||||||
| Short Contracts | |||||||||||||||||
| Australian 10-Year Bonds | (3) | Jun-2026 | $ | (230 | ) | $ | (221 | ) | $ | 1 | |||||||
| Canadian 10-Year Bonds | (30) | Jun-2026 | (2,594 | ) | (2,581 | ) | (31 | ) | |||||||||
| Euro-BTP | (19) | Jun-2026 | (2,694 | ) | (2,546 | ) | 112 | ||||||||||
| Euro-BUND 10-Year Bonds | (25) | Jun-2026 | (3,617 | ) | (3,611 | ) | (14 | ) | |||||||||
| Euro-BUXL | (30) | Jun-2026 | (3,930 | ) | (3,812 | ) | 74 | ||||||||||
| Euro-OAT | (57) | Jun-2026 | (8,023 | ) | (7,795 | ) | 192 | ||||||||||
| Japanese 10-Year Bonds | (19) | Jun-2026 | (15,677 | ) | (15,562 | ) | 121 | ||||||||||
| U.S. 2-Year Treasury Notes | (50) | Jun-2026 | (10,421 | ) | (10,372 | ) | 49 | ||||||||||
| U.S. 5-Year Treasury Notes | (31) | Jun-2026 | (3,351 | ) | (3,354 | ) | (3 | ) | |||||||||
| U.S. 10-Year Treasury Notes | (21) | Jun-2026 | (2,366 | ) | (2,332 | ) | 34 | ||||||||||
| U.S. Long Treasury Bonds | (7) | Jun-2026 | (823 | ) | (797 | ) | 26 | ||||||||||
| U.S. Ultra Long Treasury Bonds | (34) | Jun-2026 | (3,929 | ) | (3,963 | ) | (34 | ) | |||||||||
| Ultra 10-Year U.S. Treasury Notes | (46) | Jun-2026 | (5,341 | ) | (5,222 | ) | 119 | ||||||||||
| (62,996 | ) | (62,168 | ) | 646 | |||||||||||||
| $ | (25,827 | ) | $ | (26,040 | ) | $ | 156 | ||||||||||
A list of the open forward foreign currency contracts held by the Fund at March 31, 2026, is as follows:
| Counterparty | Settlement Date |
Currency to Deliver (Thousands) |
Currency to Receive (Thousands) | Unrealized Appreciation (Depreciation) (Thousands) | ||||||||||||||
| Bank of America | 04/22/26 | AUD | 320 | USD | 215 | $ | (4 | ) | ||||||||||
| Bank of America | 04/22/26 | USD | 366 | COP | 1,343,225 | (1 | ) | |||||||||||
| Bank of America | 04/22/26 | GBP | 661 | EUR | 760 | 6 | ||||||||||||
| Bank of America | 04/22/26 | USD | 670 | KZT | 352,353 | 63 | ||||||||||||
| Bank of America | 04/22/26 | USD | 695 | JPY | 110,617 | 2 | ||||||||||||
| Bank of America | 04/22/26 | USD | 50 | JPY | 7,787 | (1 | ) | |||||||||||
| Bank of America | 04/22/26 | USD | 1,020 | EUR | 855 | (34 | ) | |||||||||||
| Bank of America | 04/22/26 | USD | 2,675 | CNH | 18,548 | 15 | ||||||||||||
| SEI Institutional International Trust | 37 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
International Fixed Income Fund (Continued)
| Counterparty | Settlement Date |
Currency to Deliver (Thousands) |
Currency to Receive (Thousands) |
Unrealized Appreciation (Depreciation) (Thousands) |
|||||||||||||
| Bank of America | 04/22/26 | EUR | 50 | USD | 58 | $ | 1 | ||||||||||
| Bank of America | 04/22/26 | EUR | 3,670 | USD | 4,215 | (18 | ) | ||||||||||
| Bank of America | 04/22/26 | MXN | 4,009 | USD | 225 | 3 | |||||||||||
| Bank of America | 04/22/26 | CNH | 9,716 | USD | 1,410 | 1 | |||||||||||
| Bank of America | 04/22/26 | KRW | 957,095 | USD | 670 | 43 | |||||||||||
| Bank of America | 05/05/26 | USD | 639 | BRL | 3,446 | 17 | |||||||||||
| Bank of Nova Scotia | 04/22/26 | USD | 311 | PEN | 1,042 | (12 | ) | ||||||||||
| Barclays PLC | 04/22/26 | USD | 165 | ZAR | 2,700 | (8 | ) | ||||||||||
| Barclays PLC | 04/22/26 | USD | 315 | MXN | 5,611 | (4 | ) | ||||||||||
| Barclays PLC | 04/22/26 | USD | 350 | KRW | 511,151 | (15 | ) | ||||||||||
| Barclays PLC | 04/22/26 | USD | 445 | CAD | 616 | (3 | ) | ||||||||||
| Barclays PLC | 04/22/26 | USD | 676 | TRY | 31,193 | 5 | |||||||||||
| Barclays PLC | 04/22/26 | GBP | 964 | EUR | 1,108 | 7 | |||||||||||
| Barclays PLC | 04/22/26 | EUR | 609 | HUF | 240,557 | 14 | |||||||||||
| Barclays PLC | 04/22/26 | EUR | 610 | HUF | 235,379 | (2 | ) | ||||||||||
| Barclays PLC | 04/22/26 | USD | 2,092 | GBP | 1,549 | (49 | ) | ||||||||||
| Barclays PLC | 04/22/26 | EUR | 2,199 | NOK | 25,870 | 119 | |||||||||||
| Barclays PLC | 04/22/26 | THB | 5,568 | USD | 168 | (1 | ) | ||||||||||
| Barclays PLC | 04/22/26 | AUD | 6,109 | USD | 4,092 | (90 | ) | ||||||||||
| Barclays PLC | 04/22/26 | ZAR | 22,163 | USD | 1,340 | 47 | |||||||||||
| Barclays PLC | 04/22/26 | PHP | 42,665 | USD | 700 | (2 | ) | ||||||||||
| Barclays PLC | 04/22/26 | TRY | 61,936 | USD | 1,350 | (3 | ) | ||||||||||
| Barclays PLC | 04/22/26 | CLP | 303,125 | USD | 343 | 18 | |||||||||||
| Barclays PLC | 05/05/26 | USD | 350 | BRL | 1,850 | 2 | |||||||||||
| BNP Paribas | 04/22/26 | USD | 34 | INR | 3,203 | — | |||||||||||
| BNP Paribas | 04/22/26 | EUR | 611 | HUF | 241,217 | 14 | |||||||||||
| BNP Paribas | 04/22/26 | USD | 1,366 | CLP | 1,213,749 | (65 | ) | ||||||||||
| BNP Paribas | 04/22/26 | GBP | 1,490 | EUR | 1,713 | 11 | |||||||||||
| BNP Paribas | 04/22/26 | GBP | 2,092 | USD | 2,804 | 46 | |||||||||||
| BNP Paribas | 04/22/26 | PHP | 26,240 | USD | 435 | 3 | |||||||||||
| BNP Paribas | 04/22/26 | HUF | 721,840 | EUR | 1,827 | (45 | ) | ||||||||||
| BNP Paribas | 04/22/26 | COP | 799,433 | USD | 217 | (1 | ) | ||||||||||
| BNP Paribas | 04/22/26 | JPY | 909,969 | USD | 5,801 | 68 | |||||||||||
| Brown Brothers Harriman | 04/22/26 | CHF | 2,111 | USD | 2,660 | 25 | |||||||||||
| Brown Brothers Harriman | 04/22/26 | EUR | 2,400 | USD | 2,793 | 25 | |||||||||||
| Brown Brothers Harriman | 04/22/26 | SEK | 4,158 | USD | 453 | 15 | |||||||||||
| Brown Brothers Harriman | 04/22/26 | JPY | 39,414 | USD | 251 | 3 | |||||||||||
| Citigroup | 04/22/26 | USD | 40 | CHF | 31 | (2 | ) | ||||||||||
| Citigroup | 04/22/26 | USD | 700 | INR | 65,944 | (4 | ) | ||||||||||
| Citigroup | 04/22/26 | USD | 710 | KRW | 1,015,300 | (45 | ) | ||||||||||
| Citigroup | 04/22/26 | USD | 1,454 | EUR | 1,251 | (11 | ) | ||||||||||
| Citigroup | 04/22/26 | USD | 1,579 | ZAR | 25,520 | (90 | ) | ||||||||||
| Citigroup | 04/22/26 | USD | 1,789 | GBP | 1,350 | (9 | ) | ||||||||||
| Citigroup | 04/22/26 | USD | 1,798 | COP | 6,825,876 | 59 | |||||||||||
| Citigroup | 04/22/26 | GBP | 2,616 | USD | 3,506 | 58 | |||||||||||
| Citigroup | 04/22/26 | PEN | 6,519 | USD | 1,935 | 68 | |||||||||||
| Citigroup | 04/22/26 | CNH | 8,820 | USD | 1,280 | 1 | |||||||||||
| Citigroup | 04/22/26 | ZAR | 16,601 | USD | 1,033 | 64 | |||||||||||
| Citigroup | 04/22/26 | THB | 35,005 | USD | 1,066 | 3 | |||||||||||
| Citigroup | 04/22/26 | PHP | 42,378 | USD | 700 | 3 | |||||||||||
| 38 | SEI Institutional International Trust |
| Counterparty | Settlement Date |
Currency to Deliver (Thousands) |
Currency to Receive (Thousands) |
Unrealized Appreciation (Depreciation) (Thousands) |
|||||||||||||
| Citigroup | 04/22/26 | INR | 75,253 | USD | 817 | $ | 22 | ||||||||||
| Citigroup | 04/22/26 | COP | 33,373,085 | USD | 8,870 | (208 | ) | ||||||||||
| Davenport & Company LLC | 04/22/26 | EUR | 1,190 | SEK | 12,635 | (44 | ) | ||||||||||
| Davenport & Company LLC | 04/22/26 | NOK | 16,092 | EUR | 1,430 | (3 | ) | ||||||||||
| Deutsche Bank | 04/22/26 | USD | 700 | INR | 66,469 | 2 | |||||||||||
| Deutsche Bank | 04/22/26 | EUR | 1,690 | USD | 2,029 | 80 | |||||||||||
| Deutsche Bank | 04/22/26 | USD | 3,121 | COP | 11,696,999 | 61 | |||||||||||
| Deutsche Bank | 04/22/26 | COP | 6,867,997 | USD | 1,827 | (41 | ) | ||||||||||
| Goldman Sachs | 04/22/26 | EUR | 560 | USD | 673 | 27 | |||||||||||
| Goldman Sachs | 04/22/26 | USD | 664 | TRY | 30,620 | 5 | |||||||||||
| Goldman Sachs | 04/22/26 | USD | 961 | PEN | 3,222 | (38 | ) | ||||||||||
| Goldman Sachs | 04/22/26 | USD | 1,410 | EUR | 1,197 | (29 | ) | ||||||||||
| Goldman Sachs | 04/22/26 | USD | 3,422 | ZAR | 56,241 | (142 | ) | ||||||||||
| Goldman Sachs | 04/22/26 | CNH | 9,705 | USD | 1,410 | 2 | |||||||||||
| Goldman Sachs | 04/22/26 | ZAR | 13,860 | USD | 869 | 60 | |||||||||||
| Goldman Sachs | 04/22/26 | THB | 16,995 | USD | 517 | — | |||||||||||
| Goldman Sachs | 04/22/26 | CLP | 883,728 | USD | 997 | 50 | |||||||||||
| Goldman Sachs | 04/22/26 | COP | 1,399,940 | USD | 376 | (5 | ) | ||||||||||
| HSBC | 04/17/26 | CNY | 149,858 | USD | 21,638 | (80 | ) | ||||||||||
| HSBC | 04/22/26 | USD | 328 | ZAR | 5,366 | (15 | ) | ||||||||||
| HSBC | 04/22/26 | USD | 669 | PEN | 2,243 | (27 | ) | ||||||||||
| HSBC | 04/22/26 | CNY | 689 | USD | 100 | — | |||||||||||
| HSBC | 04/22/26 | USD | 700 | THB | 22,790 | (8 | ) | ||||||||||
| HSBC | 04/22/26 | EUR | 4,236 | USD | 4,942 | 56 | |||||||||||
| HSBC | 04/22/26 | CAD | 8,084 | USD | 5,840 | 41 | |||||||||||
| HSBC | 04/22/26 | ZAR | 11,071 | USD | 695 | 49 | |||||||||||
| HSBC | 04/22/26 | PHP | 16,006 | USD | 265 | 2 | |||||||||||
| HSBC | 04/22/26 | THB | 17,341 | USD | 527 | — | |||||||||||
| HSBC | 04/22/26 | THB | 17,540 | USD | 532 | (1 | ) | ||||||||||
| HSBC | 04/22/26 | COP | 2,929,167 | USD | 788 | (9 | ) | ||||||||||
| JPMorgan Chase Bank | 04/13/26 | USD | 773 | CNY | 5,367 | 4 | |||||||||||
| JPMorgan Chase Bank | 04/13/26 | USD | 2,272 | CAD | 3,073 | (69 | ) | ||||||||||
| JPMorgan Chase Bank | 04/13/26 | USD | 3,396 | JPY | 529,531 | (64 | ) | ||||||||||
| JPMorgan Chase Bank | 04/13/26 | USD | 3,437 | SEK | 31,549 | (123 | ) | ||||||||||
| JPMorgan Chase Bank | 04/13/26 | CAD | 8,477 | USD | 6,195 | 118 | |||||||||||
| JPMorgan Chase Bank | 04/13/26 | SEK | 31,549 | USD | 3,437 | 123 | |||||||||||
| JPMorgan Chase Bank | 04/13/26 | JPY | 2,303,421 | USD | 14,813 | 317 | |||||||||||
| JPMorgan Chase Bank | 04/20/26 | USD | 2,425 | COP | 8,966,416 | 16 | |||||||||||
| JPMorgan Chase Bank | 04/20/26 | COP | 6,644,219 | USD | 1,750 | (59 | ) | ||||||||||
| JPMorgan Chase Bank | 04/22/26 | USD | 1,410 | EUR | 1,208 | (17 | ) | ||||||||||
| JPMorgan Chase Bank | 04/27/26 | USD | 90 | MXN | 1,584 | (2 | ) | ||||||||||
| JPMorgan Chase Bank | 04/27/26 | MXN | 97,304 | USD | 5,542 | 159 | |||||||||||
| JPMorgan Chase Bank | 05/04/26 | USD | 278 | IDR | 4,696,993 | (1 | ) | ||||||||||
| JPMorgan Chase Bank | 05/04/26 | USD | 6,477 | SEK | 58,959 | (276 | ) | ||||||||||
| JPMorgan Chase Bank | 05/04/26 | SEK | 58,959 | USD | 6,443 | 241 | |||||||||||
| JPMorgan Chase Bank | 05/04/26 | IDR | 47,157,745 | USD | 2,783 | 6 | |||||||||||
| JPMorgan Chase Bank | 05/06/26 | PEN | 5,990 | USD | 1,762 | 47 | |||||||||||
| JPMorgan Chase Bank | 05/11/26 | USD | 46 | PLN | 164 | (2 | ) | ||||||||||
| JPMorgan Chase Bank | 05/11/26 | USD | 69 | AUD | 98 | (2 | ) | ||||||||||
| JPMorgan Chase Bank | 05/11/26 | CNY | 425 | USD | 62 | — | |||||||||||
| SEI Institutional International Trust | 39 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
International Fixed Income Fund (Continued)
| Counterparty | Settlement Date |
Currency to Deliver (Thousands) |
Currency to Receive (Thousands) |
Unrealized Appreciation (Depreciation) (Thousands) |
|||||||||||||
| JPMorgan Chase Bank | 05/11/26 | NOK | 1,390 | USD | 144 | $ | 1 | ||||||||||
| JPMorgan Chase Bank | 05/11/26 | USD | 2,305 | NOK | 22,093 | (36 | ) | ||||||||||
| JPMorgan Chase Bank | 05/11/26 | USD | 4,034 | CNY | 27,859 | 10 | |||||||||||
| JPMorgan Chase Bank | 05/11/26 | AUD | 8,113 | USD | 5,708 | 156 | |||||||||||
| JPMorgan Chase Bank | 05/11/26 | PLN | 17,956 | USD | 5,100 | 283 | |||||||||||
| JPMorgan Chase Bank | 05/18/26 | USD | 34 | ILS | 105 | (1 | ) | ||||||||||
| JPMorgan Chase Bank | 05/18/26 | USD | 53 | THB | 1,643 | (3 | ) | ||||||||||
| JPMorgan Chase Bank | 05/18/26 | USD | 277 | EUR | 233 | (8 | ) | ||||||||||
| JPMorgan Chase Bank | 05/18/26 | EUR | 10,187 | USD | 12,071 | 309 | |||||||||||
| JPMorgan Chase Bank | 05/18/26 | ILS | 12,010 | USD | 3,859 | 48 | |||||||||||
| JPMorgan Chase Bank | 05/18/26 | THB | 104,133 | USD | 3,297 | 127 | |||||||||||
| JPMorgan Chase Bank | 05/26/26 | USD | 42 | NZD | 69 | (2 | ) | ||||||||||
| JPMorgan Chase Bank | 05/26/26 | USD | 4,270 | KRW | 6,191,210 | (204 | ) | ||||||||||
| JPMorgan Chase Bank | 05/26/26 | NZD | 6,468 | USD | 3,924 | 229 | |||||||||||
| JPMorgan Chase Bank | 05/26/26 | KRW | 5,023,909 | USD | 3,382 | 82 | |||||||||||
| JPMorgan Chase Bank | 06/01/26 | CHF | 4,052 | USD | 5,297 | 220 | |||||||||||
| JPMorgan Chase Bank | 06/01/26 | GBP | 8,582 | USD | 11,591 | 277 | |||||||||||
| JPMorgan Chase Bank | 06/01/26 | EUR | 9,780 | USD | 11,561 | 261 | |||||||||||
| JPMorgan Chase Bank | 06/01/26 | CZK | 90,095 | USD | 4,390 | 160 | |||||||||||
| JPMorgan Chase Bank | 06/02/26 | SGD | 1,080 | USD | 858 | 17 | |||||||||||
| JPMorgan Chase Bank | 06/02/26 | USD | 4,521 | THB | 143,771 | (139 | ) | ||||||||||
| JPMorgan Chase Bank | 06/02/26 | THB | 83,334 | USD | 2,690 | 151 | |||||||||||
| JPMorgan Chase Bank | 06/03/26 | NZD | 8,679 | USD | 5,192 | 233 | |||||||||||
| JPMorgan Chase Bank | 06/08/26 | USD | 1,183 | EUR | 1,017 | (8 | ) | ||||||||||
| JPMorgan Chase Bank | 06/08/26 | EUR | 4,628 | USD | 5,487 | 138 | |||||||||||
| JPMorgan Chase Bank | 06/08/26 | CNY | 22,585 | USD | 3,324 | 41 | |||||||||||
| JPMorgan Chase Bank | 06/15/26 | USD | 564 | NZD | 965 | (13 | ) | ||||||||||
| JPMorgan Chase Bank | 06/15/26 | NZD | 7,222 | USD | 4,291 | 162 | |||||||||||
| Midland Walwyn Capital Inc. | 04/17/26 | CNY | 9,377 | USD | 1,359 | — | |||||||||||
| Midland Walwyn Capital Inc. | 05/15/26 | GBP | 11,000 | USD | 14,742 | 240 | |||||||||||
| Midland Walwyn Capital Inc. | 05/15/26 | AUD | 38,000 | USD | 26,473 | 470 | |||||||||||
| Morgan Stanley | 04/22/26 | USD | 40 | CAD | 54 | (1 | ) | ||||||||||
| Morgan Stanley | 04/22/26 | USD | 55 | COP | 209,810 | 2 | |||||||||||
| Morgan Stanley | 04/22/26 | USD | 142 | AUD | 200 | (5 | ) | ||||||||||
| Morgan Stanley | 04/22/26 | AUD | 317 | USD | 224 | 7 | |||||||||||
| Morgan Stanley | 04/22/26 | EUR | 1,160 | GBP | 1,013 | (2 | ) | ||||||||||
| Morgan Stanley | 04/22/26 | USD | 576 | EUR | 500 | — | |||||||||||
| Morgan Stanley | 04/22/26 | USD | 2,388 | EUR | 2,000 | (81 | ) | ||||||||||
| Morgan Stanley | 04/22/26 | EUR | 3,600 | USD | 4,244 | 92 | |||||||||||
| Morgan Stanley | 04/22/26 | ZAR | 18,649 | USD | 1,127 | 40 | |||||||||||
| Morgan Stanley | 04/22/26 | COP | 400,718 | USD | 108 | — | |||||||||||
| NatWest Markets, Inc. | 04/22/26 | GBP | 100 | USD | 135 | 3 | |||||||||||
| NatWest Markets, Inc. | 04/22/26 | USD | 109 | CAD | 150 | (2 | ) | ||||||||||
| NatWest Markets, Inc. | 04/22/26 | USD | 159 | GBP | 120 | (1 | ) | ||||||||||
| NatWest Markets, Inc. | 04/22/26 | USD | 666 | INR | 62,746 | (3 | ) | ||||||||||
| NatWest Markets, Inc. | 04/22/26 | USD | 1,010 | AUD | 1,430 | (31 | ) | ||||||||||
| NatWest Markets, Inc. | 04/22/26 | USD | 1,156 | EUR | 1,000 | (3 | ) | ||||||||||
| NatWest Markets, Inc. | 04/22/26 | EUR | 48,571 | USD | 56,683 | 661 | |||||||||||
| Nomura Securities | 04/22/26 | USD | 230 | KRW | 334,259 | (11 | ) | ||||||||||
| RBC | 05/15/26 | CAD | 8,000 | USD | 5,822 | 78 | |||||||||||
| 40 | SEI Institutional International Trust |
| Counterparty | Settlement Date |
Currency to Deliver (Thousands) |
Currency to Receive (Thousands) |
Unrealized Appreciation (Depreciation) (Thousands) |
|||||||||||||
| RBC | 05/15/26 | EUR | 43,000 | USD | 50,010 | $ | 366 | ||||||||||
| RBC | 05/15/26 | JPY | 4,270,000 | USD | 27,002 | 53 | |||||||||||
| Santander | 05/05/26 | USD | 711 | BRL | 3,843 | 20 | |||||||||||
| Seaport Securities Corporation | 04/22/26 | USD | 70 | CNY | 484 | — | |||||||||||
| Seaport Securities Corporation | 04/22/26 | CNY | 68,675 | USD | 9,880 | (77 | ) | ||||||||||
| Skandinavisk Enskil | 04/22/26 | EUR | 340 | NOK | 3,877 | 6 | |||||||||||
| Skandinavisk Enskil | 04/22/26 | NOK | 13,011 | EUR | 1,130 | (32 | ) | ||||||||||
| Standard Chartered | 04/22/26 | USD | 314 | COP | 1,160,203 | 2 | |||||||||||
| Standard Chartered | 04/22/26 | USD | 1,176 | CNH | 8,070 | (6 | ) | ||||||||||
| Standard Chartered | 04/22/26 | CNY | 27,251 | USD | 3,926 | (25 | ) | ||||||||||
| State Street | 04/22/26 | USD | 453 | ZAR | 7,478 | (17 | ) | ||||||||||
| State Street | 04/22/26 | EUR | 500 | USD | 591 | 14 | |||||||||||
| State Street | 04/22/26 | USD | 758 | KRW | 1,109,495 | (31 | ) | ||||||||||
| TD Securities | 04/22/26 | USD | 234 | CNH | – | (1 | ) | ||||||||||
| TD Securities | 04/22/26 | USD | 367 | SEK | 3,354 | (14 | ) | ||||||||||
| TD Securities | 04/22/26 | ZAR | 9,035 | USD | 567 | 40 | |||||||||||
| UBS | 04/22/26 | USD | 54 | AUD | 81 | 1 | |||||||||||
| UBS | 04/22/26 | USD | 330 | KRW | 484,866 | (12 | ) | ||||||||||
| UBS | 04/22/26 | USD | 738 | GBP | 550 | (13 | ) | ||||||||||
| UBS | 04/22/26 | EUR | 3,150 | USD | 3,681 | 47 | |||||||||||
| UBS | 04/22/26 | ZAR | 5,107 | USD | 317 | 20 | |||||||||||
| UBS | 04/22/26 | INR | 248,047 | USD | 2,688 | 68 | |||||||||||
| UBS | 04/22/26 | KRW | 2,534,527 | USD | 1,690 | 29 | |||||||||||
| Wachovia Securities, Inc. | 04/22/26 | EUR | 600 | USD | 713 | 21 | |||||||||||
| Wells Fargo | 04/22/26 | USD | 489 | COP | 1,814,704 | 4 | |||||||||||
| Wells Fargo | 04/22/26 | USD | 688 | JPY | 109,600 | 3 | |||||||||||
| Wells Fargo | 04/22/26 | USD | 440 | EUR | 383 | 2 | |||||||||||
| Wells Fargo | 04/22/26 | USD | 1,650 | EUR | 1,400 | (35 | ) | ||||||||||
| Wells Fargo | 04/22/26 | EUR | 3,600 | USD | 4,278 | 125 | |||||||||||
| Wells Fargo | 04/22/26 | SEK | 12,114 | EUR | 1,131 | 31 | |||||||||||
| $ | 5,066 | ||||||||||||||||
A list of the open OTC swap agreements held by the Fund at March 31, 2026, is as follows:
| Credit Default Swaps | ||||||||||||||||||||||||||
| Counterparty | Reference Entity/ Obligation |
Buy/Sell Protection |
(Pays)/Receives Rate |
Payment Frequency |
Termination Date |
Notional Amount (Thousands) |
Value (Thousands) |
Upfront Payments/ Receipts (Thousands) |
Net Unrealized Appreciation (Depreciation) |
|||||||||||||||||
| Barclays Bank PLC | MEXICO | Buy | 1.00% | Quarterly | 06/20/2031 | $ 1,200 | $ | 5 | $ | 4 | $ | 1 | ||||||||||||||
| Barclays Bank PLC | MEXICO | Buy | 1.00% | Quarterly | 06/20/2031 | 687 | 3 | 3 | — | |||||||||||||||||
| Barclays Bank PLC | MEXICO | Buy | 1.00% | Quarterly | 06/20/2031 | 687 | 3 | 4 | (1 | ) | ||||||||||||||||
| $ | 11 | $ | 11 | $ | — | |||||||||||||||||||||
| Total Return Swap | |||||||||||||||||||||||||||
| Counterparty |
Reference Entity/ Obligation |
Fund Pays | Fund Receives |
Payment Frequency |
Termination Date |
Currency |
Notional Amount (Thousands) |
Value (Thousands) |
Upfront |
Net
Unrealized Appreciation (Depreciation) (Thousands) |
|||||||||||||||||
| HSBC | CHINA 2.52% 8/25/33 | 4.28% | Asset Returns | Annually | 06/11/2026 | USD | 23,076 | $ | (123 | ) | $ | – | $ | (123 | ) | ||||||||||||
| SEI Institutional International Trust | 41 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
International Fixed Income Fund (Concluded)
A list of the open centrally cleared swap agreements held by the Fund at March 31, 2026, is as follows:
| Credit Default Swaps | ||||||||||||||||||||||||
| Reference Entity/ Obligation |
Buy/Sell Protection |
(Pays)/ Receives Rate |
Payment Frequency |
Termination Date |
Notional Amount (Thousands) |
Value (Thousands) |
Upfront Payments/ Receipts (Thousands) |
Net Unrealized Appreciation (Depreciation) (Thousands) |
||||||||||||||||
| CDX HY S46 JUN-31 | Sell | 5.00% | Quarterly | 06/20/2031 | $ | (800 | ) | $ | 38 | $ | 34 | $ | 4 | |||||||||||
| CDX IG S46 JUN-31 | Buy | 1.00% | Quarterly | 06/20/2031 | 3,492 | (60 | ) | (57 | ) | (3 | ) | |||||||||||||
| CDX IG S46 JUN-31 | Buy | 1.00% | Quarterly | 06/20/2031 | 3,880 | (67 | ) | (62 | ) | (5 | ) | |||||||||||||
| CDX IG S46 JUN-31 | Buy | 1.00% | Quarterly | 06/20/2031 | 2,328 | (40 | ) | (38 | ) | (2 | ) | |||||||||||||
| ITRAXX XOVER S44 DE | Buy | 5.00% | Quarterly | 12/20/2030 | 3,064 | (256 | ) | (266 | ) | 10 | ||||||||||||||
| ITRAXX XOVER S44 DE | Buy | 5.00% | Quarterly | 12/20/2030 | 1,077 | (90 | ) | (93 | ) | 3 | ||||||||||||||
| ITRAXX XOVER S45 JU | Buy | 5.00% | Quarterly | 06/20/2031 | 666 | (48 | ) | (79 | ) | 31 | ||||||||||||||
| ITRAXX XOVER S45 JU | Buy | 5.00% | Quarterly | 06/20/2031 | 674 | (49 | ) | (44 | ) | (5 | ) | |||||||||||||
| ITRAXX XOVER S45 JU | Buy | 5.00% | Quarterly | 06/20/2031 | 1,340 | (97 | ) | (85 | ) | (12 | ) | |||||||||||||
| ITRAXX XOVER S45 JU | Buy | 5.00% | Quarterly | 06/20/2031 | 841 | (61 | ) | (71 | ) | 10 | ||||||||||||||
| ITRAXX XOVER S45 JU | Buy | 5.00% | Quarterly | 06/20/2031 | 744 | (53 | ) | (56 | ) | 3 | ||||||||||||||
| ITRAXX XOVER S45 JU | Buy | 5.00% | Quarterly | 06/20/2031 | 1,261 | (91 | ) | (107 | ) | 16 | ||||||||||||||
| ITRAXX XOVER S45 JU | Buy | 5.00% | Quarterly | 06/20/2031 | 1,861 | (135 | ) | (135 | ) | 0 | ||||||||||||||
| $ | (1,009 | ) | $ | (1,059 | ) | $ | 50 | |||||||||||||||||
| Interest Rate Swaps | ||||||||||||||||||||||||
| Fund Pays | Fund Receives |
Payment Frequency |
Termination Date | Currency |
Notional Amount (Thousands) |
Value (Thousands) |
Upfront Payments/ Receipts (Thousands) |
Net Unrealized Appreciation (Depreciation) (Thousands) |
||||||||||||||||
| 13.705% | CETIP | Annually | 01/02/2031 | BRL | 5,533 | $ | (1 | ) | $ | – | $ | (1 | ) | |||||||||||
| CETIP | 12.7825% | Annually | 01/02/2031 | BRL | 4,480 | (34 | ) | – | (34 | ) | ||||||||||||||
| CETIP | 12.845% | Annually | 01/02/2031 | BRL | 4,480 | (32 | ) | – | (32 | ) | ||||||||||||||
| 13.715% | CETIP | Annually | 01/02/2031 | BRL | 3,929 | (1 | ) | – | (1 | ) | ||||||||||||||
| CETIP | 13.15% | Annually | 01/02/2031 | BRL | 2,609 | (12 | ) | – | (12 | ) | ||||||||||||||
| CETIP | 13.09% | Annually | 01/02/2031 | BRL | 3,090 | (16 | ) | – | (16 | ) | ||||||||||||||
| CETIP | 13.10% | Annually | 01/02/2031 | BRL | 10,301 | (51 | ) | – | (51 | ) | ||||||||||||||
| CETIP | 13.005% | Annually | 01/02/2031 | BRL | 16,000 | (98 | ) | – | (98 | ) | ||||||||||||||
| SARON | 0.5928% | Annually | 03/13/2036 | CHF | 190 | 1 | – | 1 | ||||||||||||||||
| China 7-Day Reverse Repo Rate | 1.587% | Quarterly | 03/12/2031 | CNY | 15,000 | (1 | ) | – | (1 | ) | ||||||||||||||
| China 7-Day Reverse Repo Rate | 2.0125% | Quarterly | 06/19/2029 | CNY | 98,000 | 213 | – | 213 | ||||||||||||||||
| China 7-Day Reverse Repo Rate | 2.007% | Quarterly | 06/19/2029 | CNY | 85,000 | 182 | – | 182 | ||||||||||||||||
| China 7-Day Reverse Repo Rate | 2.0088% | Quarterly | 06/19/2029 | CNY | 3,700 | 8 | – | 8 | ||||||||||||||||
| 3-Month CNY - CDC | 2.7895% | Quarterly | 12/24/2029 | CNY | 28,220 | (26 | ) | – | (26 | ) | ||||||||||||||
| 2.58% | EURIBOR | Annually | 09/15/2075 | EUR | 25,800 | (1,413 | ) | (209 | ) | (1,204 | ) | |||||||||||||
| EURIBOR | 2.885% | Semi-Annually | 09/20/2055 | EUR | 38,000 | 289 | (669 | ) | 958 | |||||||||||||||
| SOFR | 3.768% | Quarterly | 11/27/2029 | KRW | 844,300 | (17 | ) | – | (17 | ) | ||||||||||||||
| TIIE | 7.9595% | Monthly | 03/05/2036 | MXN | 20,000 | (40 | ) | – | (40 | ) | ||||||||||||||
| TIIE | 8.2525% | Monthly | 03/05/2036 | MXN | 5,729 | (5 | ) | – | (5 | ) | ||||||||||||||
| TIIE | 7.617% | Monthly | 06/14/2028 | MXN | 21,978 | (3 | ) | – | (3 | ) | ||||||||||||||
| 3-Month SEK - STIBOR | 2.6023% | Quarterly | 03/13/2031 | SEK | 2,300 | (3 | ) | – | (3 | ) | ||||||||||||||
| 3-Month SEK - STIBOR | 2.7023% | Quarterly | 12/12/2030 | SEK | 9,500 | (6 | ) | – | (6 | ) | ||||||||||||||
| $ | (1,066 | ) | $ | (878 | ) | $ | (188 | ) | ||||||||||||||||
Percentages are based on Net Assets of $388,452 ($ Thousands).
| (A) | Security, or a portion thereof, exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On March 31, 2026, the value of these securities amounted to $38,526 ($ Thousands), representing 9.9% of the Net Assets of the Fund. |
| (B) | No interest rate available. |
| (C) | Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates. |
| (D) | Perpetual security with no stated maturity date. |
| (E) | Zero coupon security. |
| (F) | Interest rate represents the security's effective yield at the time of purchase. |
| 42 | SEI Institutional International Trust |
The following is a summary of the level of inputs used as of March 31, 2026, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):
| Investments in Securities |
Level 1 ($) |
Level 2 ($) |
Level 3 ($) |
Total ($) |
||||||||||||
| Global Bonds | – | 312,589 | – | 312,589 | ||||||||||||
| U.S. Treasury Obligations | – | 22,102 | – | 22,102 | ||||||||||||
| Mortgage-Backed Securities | – | 4,935 | – | 4,935 | ||||||||||||
| Certificate of Deposit | – | 14,787 | – | 14,787 | ||||||||||||
| Purchased Swaptions | 98 | – | – | 98 | ||||||||||||
| Total Investments in Securities | 98 | 354,413 | – | 354,511 | ||||||||||||
| Other Financial Instruments |
Level 1 ($) |
Level 2 ($) |
Level 3 ($) |
Total ($) |
||||||||||||
| Futures Contracts* | ||||||||||||||||
| Unrealized Appreciation | 744 | – | – | 744 | ||||||||||||
| Unrealized Depreciation | (588 | ) | – | – | (588 | ) | ||||||||||
| Forward Contracts* | ||||||||||||||||
| Unrealized Appreciation | – | 7,667 | – | 7,667 | ||||||||||||
| Unrealized Depreciation | – | (2,601 | ) | – | (2,601 | ) | ||||||||||
| OTC Swaps | ||||||||||||||||
| Credit Default Swaps* | ||||||||||||||||
| Unrealized Appreciation | – | 1 | – | 1 | ||||||||||||
| Unrealized Depreciation | – | (1 | ) | – | (1 | ) | ||||||||||
| Total Return Swap* | ||||||||||||||||
| Unrealized Depreciation | – | (123 | ) | – | (123 | ) | ||||||||||
| Centrally Cleared Swaps | ||||||||||||||||
| Credit Default Swaps* | ||||||||||||||||
| Unrealized Appreciation | – | 77 | – | 77 | ||||||||||||
| Unrealized Depreciation | – | (27 | ) | – | (27 | ) | ||||||||||
| Interest Rate Swaps* | ||||||||||||||||
| Unrealized Appreciation | – | 1,362 | – | 1,362 | ||||||||||||
| Unrealized Depreciation | – | (1,550 | ) | – | (1,550 | ) | ||||||||||
| Total Other Financial Instruments | 156 | 4,805 | – | 4,961 | ||||||||||||
| * | Futures contracts, forward contracts and swap contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.
Amounts designated as “—” are $0 or have been rounded to $0.
See “Glossary” for abbreviations.
The accompanying notes are an integral part of the financial statements.
| SEI Institutional International Trust | 43 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
Emerging Markets Debt Fund
| Face Amount | Market Value | |||||||||
| Description | (Thousands) | ($ Thousands) | ||||||||
| GLOBAL BONDS — 90.7% | ||||||||||
| Albania — 0.0% | ||||||||||
| Albania Government International Bond | ||||||||||
| 4.750%, 02/14/2035 | EUR | 280 | $ | 316 | ||||||
| Angola — 0.5% | ||||||||||
| Angolan Government International Bond | ||||||||||
| 9.375%, 05/08/2048 | $ | 1,150 | 1,018 | |||||||
| 9.244%, 01/15/2031(A) | 2,677 | 2,711 | ||||||||
| Angolan Government International Bond MTN | ||||||||||
| 9.244%, 01/15/2031 | 200 | 202 | ||||||||
| Republic of Angola Via Avenir Issuer II Ireland DAC | ||||||||||
| 6.927%, 02/19/2027 | 709 | 693 | ||||||||
| 4,624 | ||||||||||
| Argentina — 1.9% | ||||||||||
| Argentina Treasury Bond BONTE | ||||||||||
| 29.500%, 05/30/2030 | ARS | 940,000 | 800 | |||||||
| Argentine Republic Government International Bond | ||||||||||
| 4.125%, 07/09/2035(B) | $ | 6,529 | 4,701 | |||||||
| 4.125%, 07/09/2046(B) | 4,596 | 3,137 | ||||||||
| 4.000%, 07/09/2046(B) | EUR | 224 | 169 | |||||||
| 3.875%, 07/09/2035(B) | 2,900 | 2,299 | ||||||||
| 3.500%, 07/09/2041(B) | $ | 189 | 126 | |||||||
| 3.000%, 07/09/2041(B) | EUR | 1,226 | 913 | |||||||
| 0.750%, 07/09/2030(B) | $ | 3,379 | 2,825 | |||||||
| Provincia de Buenos Aires MTN | ||||||||||
| 6.625%, 09/01/2037(B) | 2,405 | 1,810 | ||||||||
| Republic of Argentina | ||||||||||
| 0.000% 12/15/2035 (C)(D) | EUR | 5,332 | 620 | |||||||
| 17,400 | ||||||||||
| Armenia — 0.2% | ||||||||||
| Ardshinbank CJSC Via Dilijan Finance BV | ||||||||||
| 6.600%, 01/22/2031(A) | $ | 350 | 345 | |||||||
| Republic of Armenia International Bond | ||||||||||
| 6.750%, 03/12/2035 | 300 | 304 | ||||||||
| 3.600%, 02/02/2031 | 1,002 | 891 | ||||||||
| 1,540 | ||||||||||
| Azerbaijan — 0.1% | ||||||||||
| Republic of Azerbaijan International Bond | ||||||||||
| 3.500%, 09/01/2032 | 625 | 575 | ||||||||
| Bahamas — 0.8% | ||||||||||
| Bahamas Government International Bond | ||||||||||
| 9.000%, 06/16/2029 | 2,240 | 2,382 | ||||||||
| 8.950%, 10/15/2032 | 3,820 | 4,212 | ||||||||
| 8.250%, 06/24/2036(A) | 850 | 907 | ||||||||
| 8.250%, 06/24/2036 | 400 | 427 | ||||||||
| 7,928 | ||||||||||
| Face Amount | Market Value | |||||||||
| Description | (Thousands) | ($ Thousands) | ||||||||
| GLOBAL BONDS (continued) | ||||||||||
| Bahrain — 1.2% | ||||||||||
| Bahrain Government International Bond | ||||||||||
| 7.000%, 10/12/2028 | $ | 382 | $ | 380 | ||||||
| 6.750%, 09/20/2029 | 2,363 | 2,322 | ||||||||
| 6.625%, 10/06/2037(A) | 2,497 | 2,269 | ||||||||
| 6.000%, 09/19/2044 | 780 | 630 | ||||||||
| Bahrain Government International Bond MTN | ||||||||||
| 7.100%, 02/03/2038(A) | 500 | 471 | ||||||||
| 6.250%, 01/25/2051 | 4,250 | 3,454 | ||||||||
| CBB International Sukuk Programme WLL | ||||||||||
| 3.950%, 09/16/2027 | 1,974 | 1,887 | ||||||||
| 3.875%, 05/18/2029 | 200 | 182 | ||||||||
| 11,595 | ||||||||||
| Barbados — 0.2% | ||||||||||
| Barbados Government International Bond | ||||||||||
| 8.000%, 06/26/2035(A) | 1,500 | 1,519 | ||||||||
| Bermuda — 0.0% | ||||||||||
| Bermuda Government International Bond | ||||||||||
| 2.375%, 08/20/2030 | 221 | 199 | ||||||||
| Bolivia — 0.1% | ||||||||||
| Bolivian Government International Bond | ||||||||||
| 4.500%, 03/20/2028 | 668 | 621 | ||||||||
| Brazil — 4.1% | ||||||||||
| Aegea Finance Sarl | ||||||||||
| 7.625%, 01/20/2036(A) | 1,175 | 1,018 | ||||||||
| Braskem Netherlands Finance BV | ||||||||||
| 8.500%, 01/12/2031 | 1,350 | 640 | ||||||||
| 8.000%, 10/15/2034 | 3,630 | 1,688 | ||||||||
| Brazil Notas do Tesouro Nacional, Serie B | ||||||||||
| 6.000%, 05/15/2045 | BRL | 1,047 | 822 | |||||||
| 6.000%, 08/15/2050 | 271 | 208 | ||||||||
| Brazil Notas do Tesouro Nacional, Serie F | ||||||||||
| 10.000%, 01/01/2027 | 21,554 | 4,126 | ||||||||
| 10.000%, 01/01/2029 | 33,100 | 5,844 | ||||||||
| 10.000%, 01/01/2031 | 25,397 | 4,250 | ||||||||
| 10.000%, 01/01/2033 | 24,327 | 3,907 | ||||||||
| 10.000%, 01/01/2035 | 19,546 | 3,044 | ||||||||
| Brazilian Government International Bond | ||||||||||
| 7.250%, 01/12/2056 | $ | 7,336 | 7,184 | |||||||
| 6.250%, 05/22/2036 | 4,239 | 4,152 | ||||||||
| 4.750%, 01/14/2050 | 505 | 365 | ||||||||
| Yinson Bergenia Production BV | ||||||||||
| 8.498%, 01/31/2045(A) | 296 | 312 | ||||||||
| Yinson Boronia Production BV | ||||||||||
| 8.947%, 07/31/2042 | 826 | 894 | ||||||||
| 38,454 | ||||||||||
| 44 | SEI Institutional International Trust |
| Face Amount | Market Value | |||||||||
| Description | (Thousands) | ($ Thousands) | ||||||||
| GLOBAL BONDS (continued) | ||||||||||
| Bulgaria — 0.0% | ||||||||||
| Eastern European Electric BV | ||||||||||
| 6.500%, 05/15/2030(A) | EUR | 250 | $ | 292 | ||||||
| Cameroon — 0.2% | ||||||||||
| Republic of Cameroon International Bond | ||||||||||
| 5.950%, 07/07/2032 | 2,030 | 2,011 | ||||||||
| Canada — 0.0% | ||||||||||
| Polaris Renewable Energy | ||||||||||
| 9.500%, 12/03/2029 | $ | 250 | 258 | |||||||
| Cayman Islands — 0.1% | ||||||||||
| Neon Capital MTN | ||||||||||
| 0.000%, 01/06/2028(C)(D) | JPY | 81,827 | 492 | |||||||
| Chile — 1.4% | ||||||||||
| Bonos de la Tesoreria de la Republica en pesos | ||||||||||
| 6.000%, 04/01/2033(A) | CLP | 610,000 | 691 | |||||||
| 5.000%, 03/01/2035 | 1,100,000 | 1,138 | ||||||||
| 4.700%, 09/01/2030(A) | 2,300,000 | 2,412 | ||||||||
| Chile Electricity Lux Mpc II Sarl | ||||||||||
| 5.580%, 10/20/2035 | $ | 391 | 393 | |||||||
| Chile Electricity Lux MPC Sarl | ||||||||||
| 6.010%, 01/20/2033 | 602 | 621 | ||||||||
| Chile Government International Bond | ||||||||||
| 3.100%, 05/07/2041 | 500 | 378 | ||||||||
| 2.550%, 07/27/2033 | 1,805 | 1,537 | ||||||||
| Empresa Nacional del Petroleo | ||||||||||
| 5.950%, 07/30/2034 | 257 | 259 | ||||||||
| Nacional del Cobre de Chile | ||||||||||
| 6.780%, 01/13/2055(A) | 2,071 | 2,193 | ||||||||
| 6.780%, 01/13/2055 | 2,347 | 2,486 | ||||||||
| Sociedad Quimica y Minera de Chile | ||||||||||
| 5.625%, H15T5Y + 1.915%, | ||||||||||
| 04/22/2056 (A)(C) | 961 | 936 | ||||||||
| 13,044 | ||||||||||
| China — 0.3% | ||||||||||
| China Government Bond | ||||||||||
| 2.150%, 08/25/2055 | CNY | 5,500 | 769 | |||||||
| China Government International Bond | ||||||||||
| 3.750%, 11/13/2030(A) | $ | 1,842 | 1,847 | |||||||
| 3.625%, 11/13/2028 | 200 | 200 | ||||||||
| 2,816 | ||||||||||
| Colombia — 4.7% | ||||||||||
| Colombia Government International Bond | ||||||||||
| 8.500%, 04/25/2035 | 2,378 | 2,572 | ||||||||
| 6.125%, 01/21/2031 | 867 | 852 | ||||||||
| 5.625%, 02/26/2044 | 692 | 546 | ||||||||
| 5.200%, 05/15/2049 | 600 | 430 | ||||||||
| 5.000%, 06/15/2045 | 7,998 | 5,735 | ||||||||
| Face Amount | Market Value | |||||||||
| Description | (Thousands) | ($ Thousands) | ||||||||
| GLOBAL BONDS (continued) | ||||||||||
| 4.125%, 05/15/2051 | $ | 2,111 | $ | 1,281 | ||||||
| 3.125%, 04/15/2031 | 2,198 | 1,873 | ||||||||
| Colombian TES | ||||||||||
| 13.250%, 02/09/2033 | COP | 16,643,300 | 4,496 | |||||||
| 11.750%, 01/24/2035 | 15,582,600 | 3,942 | ||||||||
| 11.500%, 07/25/2046 | 1,665,700 | 408 | ||||||||
| 7.750% 09/18/2030 | 1,656,500 | 364 | ||||||||
| 7.250%, 10/18/2034 | 24,406,400 | 4,696 | ||||||||
| 7.250%, 10/26/2050 | 15,714,500 | 2,531 | ||||||||
| 7.000%, 03/26/2031 | 20,946,000 | 4,408 | ||||||||
| 7.000%, 03/26/2031 | 1,211,900 | 255 | ||||||||
| 7.000%, 06/30/2032 | 12,255,400 | 2,462 | ||||||||
| 6.000% 04/28/2028 | 7,790,300 | 1,842 | ||||||||
| 5.750%, 11/03/2027 | 7,932,400 | 1,925 | ||||||||
| Ecopetrol | ||||||||||
| 5.875% 05/28/2045 | $ | 2,730 | 2,009 | |||||||
| EnfraGen Energia Sur SAU | ||||||||||
| 8.499%, 06/30/2032(A) | 900 | 907 | ||||||||
| PA Autopista Rio Magdalena | ||||||||||
| 6.050%, 06/15/2036 | COP | 3,004,012 | 678 | |||||||
| 44,212 | ||||||||||
| Congo — 0.1% | ||||||||||
| Congolese International Bond | ||||||||||
| 9.875%, 11/07/2032 | $ | 600 | 560 | |||||||
| Costa Rica — 0.7% | ||||||||||
| Costa Rica Government International Bond | ||||||||||
| 7.158%, 03/12/2045 | 2,200 | 2,335 | ||||||||
| 6.125%, 02/19/2031 | 2,186 | 2,231 | ||||||||
| 6.001%, 01/16/2036(A) | EUR | 2,000 | 2,375 | |||||||
| 6,941 | ||||||||||
| Cote d'Ivoire — 0.5% | ||||||||||
| Ivory Coast Government International Bond | ||||||||||
| 8.250%, 01/30/2037 | $ | 338 | 347 | |||||||
| 8.250%, 01/30/2037(A) | 329 | 337 | ||||||||
| 8.075%, 04/01/2036(A) | 899 | 913 | ||||||||
| 6.750%, 02/25/2041(A) | 2,152 | 1,890 | ||||||||
| 6.625%, 03/22/2048 | EUR | 1,450 | 1,442 | |||||||
| 4,929 | ||||||||||
| Czech Republic — 0.6% | ||||||||||
| Czech Republic Government Bond | ||||||||||
| 4.500%, 11/11/2032 | CZK | 24,000 | 1,113 | |||||||
| 3.600%, 06/03/2036 | 21,000 | 883 | ||||||||
| 2.750%, 07/23/2029 | 50,000 | 2,233 | ||||||||
| 1.750%, 06/23/2032 | 45,000 | 1,787 | ||||||||
| 6,016 | ||||||||||
| Dominican Republic — 1.6% | ||||||||||
| Dominican Republic Central Bank Notes | ||||||||||
| 9.000%, 12/11/2026 | DOP | 28,080 | 468 | |||||||
| Dominican Republic International Bond | ||||||||||
| 10.750%, 06/01/2036 | 30,300 | 529 | ||||||||
| SEI Institutional International Trust | 45 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
Emerging Markets Debt Fund (Continued)
| Face Amount | Market Value | |||||||||
| Description | (Thousands) | ($ Thousands) | ||||||||
| GLOBAL BONDS (continued) | ||||||||||
| 6.150%, 05/17/2038(A) | $ | 3,378 | $ | 3,194 | ||||||
| 5.875%, 10/28/2035 | 2,068 | 1,964 | ||||||||
| 5.875%, 10/28/2035(A) | 2,944 | 2,795 | ||||||||
| 5.875%, 01/30/2060 | 600 | 501 | ||||||||
| 5.750%, 03/17/2034(A) | 2,499 | 2,379 | ||||||||
| 5.300%, 01/21/2041 | 3,300 | 2,804 | ||||||||
| 14,634 | ||||||||||
| Ecuador — 1.1% | ||||||||||
| Ecuador Government International Bond | ||||||||||
| 9.250%, 01/29/2039(A) | 876 | 859 | ||||||||
| 8.750%, 01/29/2034(A) | 3,055 | 2,994 | ||||||||
| 6.900%, 07/31/2035(B) | 4,714 | 4,148 | ||||||||
| 5.000%, 07/31/2040(B) | 2,715 | 2,124 | ||||||||
| 0.000%, 07/31/2030(E) | 441 | 368 | ||||||||
| 10,493 | ||||||||||
| Egypt — 1.9% | ||||||||||
| Egypt Government Bond | ||||||||||
| 25.318%, 08/13/2027 | EGP | 146,800 | 2,668 | |||||||
| 24.458%, 10/01/2027 | 13,300 | 243 | ||||||||
| Egypt Government International Bond | ||||||||||
| 8.700%, 03/01/2049 | $ | 3,849 | 3,367 | |||||||
| 8.500%, 01/31/2047 | 7,673 | 6,623 | ||||||||
| Egypt Government International Bond MTN | ||||||||||
| 8.625%, 02/04/2030 | 1,895 | 1,958 | ||||||||
| Egypt Treasury Bills | ||||||||||
| 0.000%, 04/07/2026(E)(F) | EGP | 14,750 | 269 | |||||||
| 0.000%, 04/28/2026(E)(F) | 57,900 | 1,042 | ||||||||
| 0.000%, 06/16/2026(E)(F) | 14,975 | 261 | ||||||||
| 0.000%, 07/21/2026(E)(F) | 25,375 | 432 | ||||||||
| 0.000%, 07/28/2026(E)(F) | 13,100 | 222 | ||||||||
| 0.000%, 09/08/2026(E)(F) | 26,975 | 446 | ||||||||
| 0.000%, 10/20/2026(E)(F) | 9,800 | 158 | ||||||||
| 0.000%, 10/27/2026(E)(F) | 21,825 | 350 | ||||||||
| 18,039 | ||||||||||
| El Salvador — 0.5% | ||||||||||
| El Salvador Government International Bond | ||||||||||
| 9.500%, 07/15/2052 | $ | 1,746 | 1,837 | |||||||
| 8.625%, 02/28/2029 | 1,600 | 1,664 | ||||||||
| 7.125%, 01/20/2050 | 1,930 | 1,613 | ||||||||
| 5,114 | ||||||||||
| Ethiopia — 0.1% | ||||||||||
| Ethiopia International Bond | ||||||||||
| 6.625%, 12/11/2024(G) | 473 | 482 | ||||||||
| Gabon — 0.2% | ||||||||||
| Gabon Blue Bond Master Trust Series 2 | ||||||||||
| 6.097%, 08/01/2038 | 200 | 200 | ||||||||
| Gabon Government International Bond | ||||||||||
| 7.000%, 11/24/2031 | 2,147 | 1,770 | ||||||||
| 1,970 | ||||||||||
| Face Amount | Market Value | |||||||||
| Description | (Thousands) | ($ Thousands) | ||||||||
| GLOBAL BONDS (continued) | ||||||||||
| Ghana — 0.5% | ||||||||||
| Ghana Government International Bond | ||||||||||
| 5.000%, 07/03/2029(B) | $ | 2,267 | $ | 2,159 | ||||||
| 5.000%, 07/03/2029(A)(B) | 83 | 79 | ||||||||
| 5.000%, 07/03/2035(B) | 2,798 | 2,382 | ||||||||
| 0.000%, 07/03/2026(E) | 245 | 240 | ||||||||
| 0.000%, 01/03/2030(E) | 242 | 203 | ||||||||
| 5,063 | ||||||||||
| Guatemala — 0.9% | ||||||||||
| Guatemala Government Bond | ||||||||||
| 6.600%, 06/13/2036 | 1,321 | 1,386 | ||||||||
| 6.250%, 08/15/2036(A) | 1,120 | 1,139 | ||||||||
| 6.125%, 06/01/2050 | 1,335 | 1,267 | ||||||||
| 4.875%, 02/13/2028 | 1,687 | 1,674 | ||||||||
| 4.500%, 05/03/2026 | 750 | 750 | ||||||||
| Industrial Subordinated Trust 2 0 | ||||||||||
| 6.550%, H15T5Y + 2.864%, 04/15/2036 (A)(C) | 972 | 972 | ||||||||
| Threelands Energy Sarl | ||||||||||
| 7.450%, 10/20/2035(A) | 820 | 830 | ||||||||
| 8,018 | ||||||||||
| Hungary — 1.5% | ||||||||||
| Hungary Government Bond | ||||||||||
| 7.000%, 10/24/2035 | HUF | 135,000 | 398 | |||||||
| 3.250%, 10/22/2031 | 150,000 | 369 | ||||||||
| 3.000%, 10/27/2038 | 73,070 | 144 | ||||||||
| 3.000%, 04/25/2041 | 535,850 | 999 | ||||||||
| Hungary Government International Bond | ||||||||||
| 6.750%, 09/23/2055(A) | $ | 2,562 | 2,596 | |||||||
| 6.125%, 05/22/2028 | 1,272 | 1,301 | ||||||||
| 6.000%, 09/26/2035 | 1,843 | 1,870 | ||||||||
| 5.500%, 03/26/2036 | 4,200 | 4,094 | ||||||||
| 5.375%, 09/26/2030 | 1,655 | 1,663 | ||||||||
| 3.125%, 09/21/2051 | 1,399 | 833 | ||||||||
| 14,267 | ||||||||||
| India — 1.6% | ||||||||||
| Adani Green Energy UP | ||||||||||
| 6.700%, 03/12/2042 | 1,781 | 1,652 | ||||||||
| Adani Renewable Energy RJ MTN | ||||||||||
| 4.625%, 10/15/2039 | 616 | 495 | ||||||||
| Export-Import Bank of India MTN | ||||||||||
| 3.250%, 01/15/2030 | 660 | 628 | ||||||||
| 2.250%, 01/13/2031 | 346 | 309 | ||||||||
| India Government Bond | ||||||||||
| 7.360%, 09/12/2052 | INR | 190,000 | 1,916 | |||||||
| 7.300%, 06/19/2053 | 282,010 | 2,799 | ||||||||
| 7.180%, 07/24/2037 | 243,610 | 2,555 | ||||||||
| 6.480%, 10/06/2035 | 170,750 | 1,743 | ||||||||
| 6.330%, 05/05/2035 | 181,390 | 1,837 | ||||||||
| 46 | SEI Institutional International Trust |
| Face Amount | Market Value | |||||||||
| Description | (Thousands) | ($ Thousands) | ||||||||
| GLOBAL BONDS (continued) | ||||||||||
| Muthoot Finance MTN | ||||||||||
| 5.750%, 08/04/2030(A) | $ | 778 | $ | 747 | ||||||
| 14,681 | ||||||||||
| Indonesia — 6.3% | ||||||||||
| Indonesia Government International Bond | ||||||||||
| 8.375% 09/15/2026 | IDR | 13,515,000 | 802 | |||||||
| 5.650%, 01/11/2053 | $ | 1,791 | 1,718 | |||||||
| 4.850%, 01/11/2033 | 400 | 393 | ||||||||
| 4.550%, 01/11/2028 | 490 | 490 | ||||||||
| 4.300%, 03/31/2052 | 688 | 538 | ||||||||
| 4.200%, 10/15/2050 | 529 | 410 | ||||||||
| Indonesia Treasury Bond | ||||||||||
| 9.000% 03/15/2029 | IDR | 31,550,000 | 1,984 | |||||||
| 8.750% 05/15/2031 | 13,902,000 | 900 | ||||||||
| 8.375% 03/15/2034 | 15,107,000 | 968 | ||||||||
| 8.375%, 04/15/2039 | 17,819,000 | 1,172 | ||||||||
| 8.250%, 05/15/2029 | 31,168,000 | 1,918 | ||||||||
| 8.250% 06/15/2032 | 11,041,000 | 708 | ||||||||
| 8.250% 05/15/2036 | 25,814,000 | 1,660 | ||||||||
| 7.500%, 08/15/2032 | 12,336,000 | 751 | ||||||||
| 7.500%, 06/15/2035 | 4,700,000 | 288 | ||||||||
| 7.500%, 05/15/2038 | 16,739,000 | 1,029 | ||||||||
| 7.500%, 04/15/2040 | 24,411,000 | 1,491 | ||||||||
| 7.125%, 06/15/2038 | 28,904,000 | 1,721 | ||||||||
| 7.125%, 08/15/2040 | 23,545,000 | 1,405 | ||||||||
| 7.125%, 06/15/2042 | 5,650,000 | 337 | ||||||||
| 7.125%, 06/15/2043 | 49,047,000 | 2,924 | ||||||||
| 7.125%, 08/15/2045 | 26,107,000 | 1,573 | ||||||||
| 7.000% 05/15/2027 | 4,310,000 | 256 | ||||||||
| 7.000%, 09/15/2030 | 32,147,000 | 1,908 | ||||||||
| 7.000%, 02/15/2033 | 43,662,000 | 2,585 | ||||||||
| 6.875%, 04/15/2029 | 27,011,000 | 1,602 | ||||||||
| 6.750%, 07/15/2035 | 99,431,000 | 5,789 | ||||||||
| 6.625%, 02/15/2034 | 24,834,000 | 1,436 | ||||||||
| 6.500%, 07/15/2030 | 76,740,000 | 4,477 | ||||||||
| 6.500%, 02/15/2031 | 57,565,000 | 3,363 | ||||||||
| 6.500%, 04/15/2036 | 60,000,000 | 3,436 | ||||||||
| 6.375%, 08/15/2028 | 43,995,000 | 2,593 | ||||||||
| 6.375%, 04/15/2032 | 6,197,000 | 357 | ||||||||
| 5.500%, 04/15/2026 | 574,000 | 34 | ||||||||
| Pertamina Hulu Energi | ||||||||||
| 5.250%, 05/21/2030(A) | $ | 1,538 | 1,542 | |||||||
| Perusahaan Penerbit SBSN Indonesia III | ||||||||||
| 4.550%, 07/23/2030(A) | 4,497 | 4,424 | ||||||||
| Perusahaan Perseroan Persero Perusahaan Listrik Negara MTN | ||||||||||
| 5.450%, 02/03/2036(A) | 267 | 255 | ||||||||
| 59,237 | ||||||||||
| Iraq — 0.4% | ||||||||||
| Iraq International Bond | ||||||||||
| 5.800%, 01/15/2028 | 1,204 | 1,170 | ||||||||
| Face Amount | Market Value | |||||||||
| Description | (Thousands) | ($ Thousands) | ||||||||
| GLOBAL BONDS (continued) | ||||||||||
| 5.800%, 01/15/2028 | $ | 2,447 | $ | 2,376 | ||||||
| 3,546 | ||||||||||
| Isle of Man — 0.2% | ||||||||||
| Kinetics LNG Holdings | ||||||||||
| 9.875%, 11/13/2029(A) | 1,375 | 1,388 | ||||||||
| Israel — 0.3% | ||||||||||
| Israel Electric | ||||||||||
| 8.100%, 12/15/2096 | 1,400 | 1,819 | ||||||||
| Leviathan Bond | ||||||||||
| 6.750%, 06/30/2030(A) | 394 | 400 | ||||||||
| State of Israel | ||||||||||
| 3.800%, 05/13/2060 | 490 | 318 | ||||||||
| 2,537 | ||||||||||
| Jamaica — 0.2% | ||||||||||
| NCB Financial Group | ||||||||||
| 11.000%, 07/31/2030 | 2,100 | 2,195 | ||||||||
| Jordan — 0.4% | ||||||||||
| Jordan Government International Bond | ||||||||||
| 7.500%, 01/13/2029 | 851 | 874 | ||||||||
| 7.500%, 01/13/2029(A) | 821 | 843 | ||||||||
| 7.375%, 10/10/2047 | 2,200 | 2,066 | ||||||||
| 3,783 | ||||||||||
| Kazakhstan — 1.0% | ||||||||||
| Development Bank of Kazakhstan JSC MTN | ||||||||||
| 18.400%, 10/16/2028(A) | KZT | 192,000 | 413 | |||||||
| Kazakhstan Government Bond - MEOKAM | ||||||||||
| 16.950%, 10/09/2030 | 270,000 | 578 | ||||||||
| Kazakhstan Government Bond - MEUKAM | ||||||||||
| 15.180%, 02/05/2032 | 157,500 | 322 | ||||||||
| 14.450%, 06/05/2033 | 525,000 | 1,043 | ||||||||
| 14.000%, 02/13/2035 | 1,090,000 | 2,104 | ||||||||
| 11.050%, 01/28/2037 | 92,000 | 146 | ||||||||
| 10.400%, 05/19/2027 | 235,000 | 460 | ||||||||
| 5.000%, 04/18/2028 | 70,000 | 118 | ||||||||
| Kazakhstan Government International Bond | ||||||||||
| 5.500%, 07/01/2037 | $ | 829 | 832 | |||||||
| 5.500%, 07/01/2037(A) | 500 | 502 | ||||||||
| 5.000%, 07/01/2032(A) | 1,639 | 1,634 | ||||||||
| 5.000%, 07/01/2032 | 549 | 547 | ||||||||
| 4.412%, 10/28/2030(A) | 400 | 392 | ||||||||
| KazMunayGas National JSC | ||||||||||
| 6.375%, 10/24/2048 | 310 | 308 | ||||||||
| 9,399 | ||||||||||
| Kenya — 0.8% | ||||||||||
| Kenya Government International Bond | ||||||||||
| 7.000%, 05/22/2027 | 133 | 133 | ||||||||
| Republic of Kenya Government International Bond | ||||||||||
| 9.750%, 02/16/2031 | 1,998 | 2,048 | ||||||||
| SEI Institutional International Trust | 47 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
Emerging Markets Debt Fund (Continued)
| Face Amount | Market Value | |||||||||
| Description | (Thousands) | ($ Thousands) | ||||||||
| GLOBAL BONDS (continued) | ||||||||||
| 8.700%, 02/26/2039(A) | $ | 2,269 | $ | 2,053 | ||||||
| 8.250%, 02/28/2048 | 2,751 | 2,387 | ||||||||
| Republic of Kenya Infrastructure Bond | ||||||||||
| 18.461%, 08/09/2032 | KES | 32,950 | 310 | |||||||
| 13.938%, 10/27/2036 | 10,950 | 91 | ||||||||
| 12.500%, 01/10/2033 | 71,350 | 565 | ||||||||
| 12.257%, 01/05/2037 | 18,200 | 145 | ||||||||
| 7,732 | ||||||||||
| Kuwait — 0.2% | ||||||||||
| Kuwait International Government Bond | ||||||||||
| 4.652%, 10/09/2035(A) | $ | 1,495 | 1,435 | |||||||
| Kyrgyzstan — 0.0% | ||||||||||
| Kyrgyz Republic International Bond | ||||||||||
| 7.750%, 06/03/2030(A) | 380 | 378 | ||||||||
| Laos — 0.2% | ||||||||||
| Laos Government International Bond | ||||||||||
| 11.250%, 11/12/2030 | 840 | 855 | ||||||||
| 11.250%, 11/12/2030(A) | 600 | 610 | ||||||||
| 1,465 | ||||||||||
| Latvia — 0.1% | ||||||||||
| Latvia Government International Bond MTN | ||||||||||
| 5.125%, 07/30/2034 | 600 | 603 | ||||||||
| Lebanon — 0.4% | ||||||||||
| Lebanon Government International Bond | ||||||||||
| 8.250%, 05/17/2034(G) | 6,511 | 1,575 | ||||||||
| 8.200%, 05/17/2033(G) | 2,311 | 551 | ||||||||
| Lebanon Government International Bond MTN | ||||||||||
| 7.000%, 03/20/2028(G) | 2,239 | 538 | ||||||||
| 6.400%, 05/26/2023(G) | 2,649 | 630 | ||||||||
| 6.100%, 10/04/2022(G) | 2,311 | 544 | ||||||||
| 3,838 | ||||||||||
| Luxembourg — 0.2% | ||||||||||
| Delphos Securities SARL - Compartment Bernina MTN | ||||||||||
| 7.625%, 04/08/2035 | EUR | 1,500 | 1,636 | |||||||
| Malaysia — 6.2% | ||||||||||
| Khazanah Capital MTN | ||||||||||
| 4.876%, 06/01/2033 | $ | 239 | 241 | |||||||
| 4.759%, 09/05/2034 | 400 | 399 | ||||||||
| Khazanah Global Sukuk MTN | ||||||||||
| 4.687%, 06/01/2028 | 1,253 | 1,260 | ||||||||
| Malaysia Government Bond | ||||||||||
| 5.248% 09/15/2028 | MYR | 1,528 | 395 | |||||||
| 4.893%, 06/08/2038 | 13,417 | 3,664 | ||||||||
| 4.696%, 10/15/2042 | 3,303 | 886 | ||||||||
| 4.642%, 11/07/2033 | 8,275 | 2,176 | ||||||||
| 4.504%, 04/30/2029 | 4,500 | 1,150 | ||||||||
| Face Amount | Market Value | |||||||||
| Description | (Thousands) | ($ Thousands) | ||||||||
| GLOBAL BONDS (continued) | ||||||||||
| 4.498% 04/15/2030 | MYR | 15,635 | $ | 4,020 | ||||||
| 4.457%, 03/31/2053 | 1,997 | 518 | ||||||||
| 4.392% 04/15/2026 | 340 | 84 | ||||||||
| 4.065%, 06/15/2050 | 6,000 | 1,473 | ||||||||
| 4.054%, 04/18/2039 | 4,639 | 1,161 | ||||||||
| 3.906%, 07/15/2026 | 4,616 | 1,143 | ||||||||
| 3.900%, 11/30/2026 | 38,946 | 9,672 | ||||||||
| 3.885%, 08/15/2029 | 19,802 | 4,973 | ||||||||
| 3.828%, 07/05/2034 | 19,901 | 4,965 | ||||||||
| 3.757%, 05/22/2040 | 5,000 | 1,216 | ||||||||
| 3.733%, 06/15/2028 | 18,179 | 4,536 | ||||||||
| 3.582%, 07/15/2032 | 11,997 | 2,967 | ||||||||
| 3.519%, 04/20/2028 | 10,763 | 2,674 | ||||||||
| 3.502% 05/31/2027 | 9,950 | 2,468 | ||||||||
| 2.632%, 04/15/2031 | 9,526 | 2,263 | ||||||||
| Malaysia Government Investment Issue | ||||||||||
| 4.119%, 11/30/2034 | 1,248 | 318 | ||||||||
| Malaysia Wakala Sukuk | ||||||||||
| 3.075%, 04/28/2051 | $ | 750 | 527 | |||||||
| Petronas Capital MTN | ||||||||||
| 5.848%, 04/03/2055(A) | 1,431 | 1,463 | ||||||||
| 4.950%, 01/03/2031 | 1,716 | 1,754 | ||||||||
| 58,366 | ||||||||||
| Mexico — 7.0% | ||||||||||
| El Puerto de Liverpool | ||||||||||
| 5.750%, 02/10/2038(A) | 1,208 | 1,142 | ||||||||
| Grupo Televisa | ||||||||||
| 5.250%, 05/24/2049 | 438 | 269 | ||||||||
| Mexican Bonos | ||||||||||
| 8.500%, 03/01/2029 | MXN | 139,201 | 7,729 | |||||||
| 8.500%, 02/28/2030 | 140,000 | 7,706 | ||||||||
| 8.000%, 04/15/2032 | 135,500 | 7,126 | ||||||||
| 8.000%, 11/07/2047 | 69,541 | 3,222 | ||||||||
| 8.000%, 07/31/2053 | 65,873 | 3,021 | ||||||||
| 7.750% 11/23/2034 | 1,154 | 59 | ||||||||
| 7.750% 11/13/2042 | 99,545 | 4,579 | ||||||||
| 7.500% 06/03/2027 | 37,128 | 2,058 | ||||||||
| 7.500%, 05/26/2033 | 8 | – | ||||||||
| Mexican Bonos, Ser M20 | ||||||||||
| 8.500% 05/31/2029 | 7,052 | 390 | ||||||||
| 7.750% 05/29/2031 | 249 | 13 | ||||||||
| Mexican Bonos, Ser M30 | ||||||||||
| 8.500% 11/18/2038 | 59,956 | 3,054 | ||||||||
| Mexico Government International Bond | ||||||||||
| 6.750%, 02/09/2056 | $ | 400 | 388 | |||||||
| 6.338%, 05/04/2053 | 3,982 | 3,700 | ||||||||
| 4.280%, 08/14/2041 | 1,423 | 1,113 | ||||||||
| Mexico Government International Bond MTN | ||||||||||
| 5.750%, 10/12/2110 | 240 | 195 | ||||||||
| 5.625%, 03/19/2114 | GBP | 4,850 | 4,575 | |||||||
| Petroleos Mexicanos | ||||||||||
| 7.690%, 01/23/2050 | $ | 10,440 | 9,041 | |||||||
| 48 | SEI Institutional International Trust |
| Face Amount | Market Value | |||||||||
| Description | (Thousands) | ($ Thousands) | ||||||||
| GLOBAL BONDS (continued) | ||||||||||
| Petroleos Mexicanos MTN | ||||||||||
| 6.750%, 09/21/2047 | $ | 7,539 | $ | 6,015 | ||||||
| 65,395 | ||||||||||
| Mongolia — 0.3% | ||||||||||
| Mongolia Government International Bond | ||||||||||
| 6.625%, 02/25/2030 | 400 | 405 | ||||||||
| 6.625%, 02/25/2030(A) | 200 | 202 | ||||||||
| Tsetsens Mining And Energy | ||||||||||
| 11.375%, 02/05/2031 | 2,210 | 2,213 | ||||||||
| 2,820 | ||||||||||
| Montenegro — 0.0% | ||||||||||
| Montenegro Government International Bond | ||||||||||
| 7.250%, 03/12/2031 | 300 | 312 | ||||||||
| Morocco — 0.2% | ||||||||||
| Morocco Government International Bond | ||||||||||
| 6.500%, 09/08/2033 | 1,575 | 1,658 | ||||||||
| 4.000%, 12/15/2050 | 600 | 411 | ||||||||
| 2,069 | ||||||||||
| Mozambique — 0.1% | ||||||||||
| Mozambique International Bond | ||||||||||
| 9.000%, 09/15/2031(B) | 873 | 654 | ||||||||
| Netherlands — 0.0% | ||||||||||
| Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden MTN | ||||||||||
| 11.000%, 03/27/2028 | UZS | 2,000,000 | 164 | |||||||
| Nigeria — 2.1% | ||||||||||
| Nigeria Government International Bond | ||||||||||
| 9.625%, 06/09/2031 | $ | 2,610 | 2,858 | |||||||
| 9.130%, 01/13/2046(A) | 500 | 522 | ||||||||
| 8.631%, 01/13/2036(A) | 1,435 | 1,495 | ||||||||
| 8.631%, 01/13/2036 | 200 | 208 | ||||||||
| Nigeria Government International Bond MTN | ||||||||||
| 8.250%, 09/28/2051 | 2,200 | 2,111 | ||||||||
| Nigeria OMO Bill | ||||||||||
| 0.000%, 04/07/2026(E)(F) | NGN | 848,485 | 611 | |||||||
| 0.000%, 04/14/2026(E)(F) | 3,849,045 | 2,755 | ||||||||
| 0.000%, 04/28/2026(E)(F) | 417,500 | 297 | ||||||||
| 0.000%, 06/09/2026(E)(F) | 551,515 | 382 | ||||||||
| 0.000%, 06/23/2026(E)(F) | 417,500 | 287 | ||||||||
| 0.000%, 07/07/2026(E)(F) | 1,970,000 | 1,344 | ||||||||
| 0.000%, 07/14/2026(E)(F) | 551,515 | 375 | ||||||||
| 0.000%, 07/28/2026(E)(F) | 2,865,554 | 1,933 | ||||||||
| 0.000%, 08/04/2026(E)(F) | 2,792,389 | 1,876 | ||||||||
| 0.000%, 09/22/2026(E)(F) | 2,931,047 | 1,941 | ||||||||
| 0.000%, 01/21/2027(E)(F) | 1,573,544 | 987 | ||||||||
| 19,982 | ||||||||||
| Face Amount | Market Value | |||||||||
| Description | (Thousands) | ($ Thousands) | ||||||||
| GLOBAL BONDS (continued) | ||||||||||
| North Macedonia — 0.0% | ||||||||||
| North Macedonia Government International Bond | ||||||||||
| 4.750%, 01/21/2034(A) | EUR | 330 | $ | 361 | ||||||
| Oman — 1.0% | ||||||||||
| EDO Sukuk | ||||||||||
| 5.662%, 07/03/2031 | $ | 1,520 | 1,554 | |||||||
| 5.662%, 07/03/2031(A) | 728 | 744 | ||||||||
| Mazoon Assets SAOC | ||||||||||
| 5.250%, 10/09/2031(A) | 785 | 784 | ||||||||
| 5.250%, 10/09/2031 | 233 | 233 | ||||||||
| Oman Government International Bond | ||||||||||
| 7.000%, 01/25/2051 | 1,024 | 1,109 | ||||||||
| 6.750%, 10/28/2027 | 259 | 266 | ||||||||
| 6.750%, 01/17/2048 | 2,135 | 2,225 | ||||||||
| Oman Sovereign Sukuk | ||||||||||
| 4.525%, 04/17/2033(A) | 2,234 | 2,154 | ||||||||
| 9,069 | ||||||||||
| Pakistan — 0.2% | ||||||||||
| Pakistan Global Sukuk Programme MTN | ||||||||||
| 7.950%, 01/31/2029 | 1,330 | 1,314 | ||||||||
| Pakistan Government International Bond MTN | ||||||||||
| 8.875%, 04/08/2051 | 800 | 714 | ||||||||
| Pakistan Water & Power Development Authority | ||||||||||
| 7.500%, 06/04/2031 | 200 | 177 | ||||||||
| 2,205 | ||||||||||
| Panama — 0.8% | ||||||||||
| Panama Government International Bond | ||||||||||
| 8.125%, 04/28/2034 | 202 | 230 | ||||||||
| 8.000%, 03/01/2038 | 1,853 | 2,122 | ||||||||
| 5.662%, 02/23/2038 | 842 | 808 | ||||||||
| 4.500%, 04/16/2050 | 450 | 341 | ||||||||
| 4.300%, 04/29/2053 | 1,827 | 1,332 | ||||||||
| 2.252%, 09/29/2032 | 2,688 | 2,207 | ||||||||
| 7,040 | ||||||||||
| Paraguay — 0.4% | ||||||||||
| Paraguay Government International Bond | ||||||||||
| 8.500%, 04/04/2038(A) | PYG | 2,980,000 | 453 | |||||||
| 6.650%, 03/04/2055(A) | $ | 718 | 745 | |||||||
| 5.850%, 08/21/2033 | 1,248 | 1,281 | ||||||||
| 4.950%, 04/28/2031 | 438 | 436 | ||||||||
| Ueno Bank | ||||||||||
| 6.700%, 03/06/2031(A) | 632 | 624 | ||||||||
| 3,539 | ||||||||||
| Peru — 3.0% | ||||||||||
| Peru Government Bond | ||||||||||
| 7.600%, 08/12/2039(A) | PEN | 9,400 | 2,782 | |||||||
| 7.300%, 08/12/2033(A) | 1,749 | 548 | ||||||||
| SEI Institutional International Trust | 49 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
Emerging Markets Debt Fund (Continued)
| Face Amount | Market Value | |||||||||
| Description | (Thousands) | ($ Thousands) | ||||||||
| GLOBAL BONDS (continued) | ||||||||||
| 6.850%, 08/12/2035(A) | PEN | 3,932 | $ | 1,146 | ||||||
| 5.400%, 08/12/2034 | 36,925 | 10,033 | ||||||||
| 5.350%, 08/12/2040 | 5,708 | 1,365 | ||||||||
| Peru LNG Srl | ||||||||||
| 5.375%, 03/22/2030 | $ | 867 | 840 | |||||||
| Peruvian Government International Bond | ||||||||||
| 6.900%, 08/12/2037 | PEN | 3,515 | 998 | |||||||
| 6.200%, 06/30/2055 | $ | 692 | 694 | |||||||
| 5.875%, 08/08/2054 | 208 | 200 | ||||||||
| 5.500%, 03/30/2036 | 3,762 | 3,748 | ||||||||
| 3.230%, 07/28/2121 | 820 | 437 | ||||||||
| Petroleos del Peru | ||||||||||
| 5.625%, 06/19/2047 | 7,620 | 5,344 | ||||||||
| 28,135 | ||||||||||
| Philippines — 1.4% | ||||||||||
| Philippine Government Bond | ||||||||||
| 6.375%, 07/27/2030 | PHP | 50,000 | 809 | |||||||
| 6.250%, 02/28/2029 | 125,000 | 2,041 | ||||||||
| 6.000%, 08/20/2030 | 65,000 | 1,042 | ||||||||
| Philippine Government International Bond | ||||||||||
| 5.750%, 01/27/2051 | $ | 800 | 789 | |||||||
| 5.170%, 10/13/2027 | 1,970 | 1,995 | ||||||||
| 5.000%, 01/27/2036 | 469 | 456 | ||||||||
| 2.950%, 05/05/2045 | 700 | 467 | ||||||||
| 2.650%, 12/10/2045 | 2,093 | 1,316 | ||||||||
| 1.950%, 01/06/2032 | 4,736 | 4,047 | ||||||||
| 12,962 | ||||||||||
| Poland — 4.5% | ||||||||||
| Poland Government Bond | ||||||||||
| 4.750%, 07/25/2029 | PLN | 10,100 | 2,693 | |||||||
| Republic of Poland Government Bond | ||||||||||
| 7.500%, 07/25/2028 | 18,000 | 5,120 | ||||||||
| 6.000%, 10/25/2033 | 7,486 | 2,051 | ||||||||
| 5.000%, 10/25/2034 | 8,286 | 2,114 | ||||||||
| 5.000%, 10/25/2035 | 5,092 | 1,279 | ||||||||
| 2.750%, 04/25/2028 | 10,139 | 2,626 | ||||||||
| 1.750%, 04/25/2032 | 34,109 | 7,438 | ||||||||
| 1.250%, 10/25/2030 | 18,000 | 4,066 | ||||||||
| Republic of Poland Government International Bond | ||||||||||
| 5.500%, 04/04/2053 | $ | 100 | 93 | |||||||
| 5.500%, 03/18/2054 | 2,661 | 2,458 | ||||||||
| 5.375%, 02/12/2035 | 6,631 | 6,751 | ||||||||
| 5.125%, 09/18/2034 | 3,050 | 3,065 | ||||||||
| 4.875%, 02/12/2030 | 2,029 | 2,072 | ||||||||
| 41,826 | ||||||||||
| Romania — 3.5% | ||||||||||
| Romania Government Bond | ||||||||||
| 8.250%, 09/29/2032 | RON | 2,470 | 585 | |||||||
| 8.000%, 04/29/2030 | 25,750 | 6,008 | ||||||||
| 7.650%, 07/27/2031 | 8,470 | 1,952 | ||||||||
| 7.500%, 07/27/2033 | 3,760 | 859 | ||||||||
| Face Amount | Market Value | |||||||||
| Description | (Thousands) | ($ Thousands) | ||||||||
| GLOBAL BONDS (continued) | ||||||||||
| 7.350%, 04/28/2031 | RON | 4,165 | $ | 949 | ||||||
| 7.100%, 07/31/2034 | 7,840 | 1,753 | ||||||||
| 6.850%, 07/29/2030 | 9,160 | 2,027 | ||||||||
| 6.750%, 04/25/2035 | 55 | 12 | ||||||||
| 6.300%, 04/25/2029 | 11,000 | 2,443 | ||||||||
| 4.850%, 07/25/2029 | 7,300 | 1,551 | ||||||||
| 4.250%, 04/28/2036 | 2,150 | 386 | ||||||||
| 4.150%, 10/24/2030 | 1,020 | 205 | ||||||||
| Romanian Government International Bond | ||||||||||
| 7.500%, 02/10/2037 | $ | 2,896 | 3,057 | |||||||
| 6.625%, 05/16/2036 | 480 | 477 | ||||||||
| 5.750%, 03/24/2035 | 3,140 | 2,968 | ||||||||
| 5.750%, 07/04/2036(A) | 3,434 | 3,184 | ||||||||
| 5.000%, 02/12/2029 | RON | 1,670 | 359 | |||||||
| 4.000%, 02/14/2051 | $ | 846 | 545 | |||||||
| Romanian Government International Bond MTN | ||||||||||
| 2.875%, 04/13/2042 | EUR | 5,305 | 3,820 | |||||||
| 33,140 | ||||||||||
| Russia — 0.0% | ||||||||||
| Russian Foreign Bond - Eurobond | ||||||||||
| 7.500% 03/31/2030 (G) | $ | – | – | |||||||
| Vnesheconombank Via VEB Finance | ||||||||||
| 6.800%, 06/30/2026(A) | 150 | 8 | ||||||||
| 6.800%, 06/30/2026 | 580 | 5 | ||||||||
| 13 | ||||||||||
| Rwanda — 0.0% | ||||||||||
| Rwanda International Government Bond | ||||||||||
| 5.500%, 08/09/2031 | 260 | 232 | ||||||||
| Saudi Arabia — 1.7% | ||||||||||
| Acwa Power Management And Investments One | ||||||||||
| 5.950%, 12/15/2039 | 344 | 337 | ||||||||
| Saudi Government International Bond (A) | ||||||||||
| 5.875%, 01/12/2056 | 3,437 | 3,290 | ||||||||
| 4.375%, 01/12/2031 | 2,443 | 2,392 | ||||||||
| Saudi Government International Bond MTN | ||||||||||
| 5.875%, 01/12/2056 | 200 | 192 | ||||||||
| 5.000%, 01/18/2053 | 1,979 | 1,675 | ||||||||
| 4.750%, 01/16/2030 | 4,189 | 4,181 | ||||||||
| 4.625%, 10/04/2047 | 2,900 | 2,385 | ||||||||
| 4.375%, 01/12/2031 | 400 | 392 | ||||||||
| 3.750%, 01/21/2055 | 1,670 | 1,132 | ||||||||
| 15,976 | ||||||||||
| Senegal — 0.2% | ||||||||||
| Senegal Government International Bond | ||||||||||
| 6.750%, 03/13/2048 | 1,140 | 577 | ||||||||
| 6.250%, 05/23/2033 | 926 | 490 | ||||||||
| 5.375%, 06/08/2037 | EUR | 420 | 244 | |||||||
| 50 | SEI Institutional International Trust |
| Face Amount | Market Value | |||||||||
| Description | (Thousands) | ($ Thousands) | ||||||||
| GLOBAL BONDS (continued) | ||||||||||
| 4.750%, 03/13/2028 | EUR | 233 | $ | 168 | ||||||
| 1,479 | ||||||||||
| Serbia — 0.4% | ||||||||||
| Serbia International Bond | ||||||||||
| 6.000%, 06/12/2034 | $ | 2,725 | 2,729 | |||||||
| 2.125%, 12/01/2030 | 689 | 594 | ||||||||
| Telecommunications co Telekom Srbija AD Belgrade | ||||||||||
| 7.000%, 10/28/2029 | 200 | 197 | ||||||||
| 3,520 | ||||||||||
| South Africa — 5.2% | ||||||||||
| Absa Bank MTN (H) | ||||||||||
| 0.000%, 04/16/2026(E) | EGP | 92,200 | 1,667 | |||||||
| 0.000%, 07/16/2026(E) | 90,700 | 1,555 | ||||||||
| 0.000%, 01/14/2027(E) | 100,450 | 1,547 | ||||||||
| Eskom Holdings SOC MTN | ||||||||||
| 7.500%, 09/15/2033 | ZAR | 35,000 | 1,800 | |||||||
| Republic of South Africa Government Bond | ||||||||||
| 11.625%, 03/31/2053 | 15,000 | 1,031 | ||||||||
| 9.000%, 01/31/2040 | 72,162 | 3,959 | ||||||||
| 8.875% 02/28/2035 | 29,302 | 1,682 | ||||||||
| 8.750% 01/31/2044 | 145,948 | 7,723 | ||||||||
| 8.750% 02/28/2048 | 209,698 | 11,081 | ||||||||
| 8.500% 01/31/2037 | 17,212 | 939 | ||||||||
| 8.250% 03/31/2032 | 24,060 | 1,372 | ||||||||
| 8.000% 01/31/2030 | 57,400 | 3,317 | ||||||||
| 6.500% 02/28/2041 | 23,519 | 1,026 | ||||||||
| 6.250% 03/31/2036 | 12,819 | 601 | ||||||||
| Republic of South Africa Government International Bond | ||||||||||
| 6.125%, 12/11/2037 | $ | 1,182 | 1,098 | |||||||
| 6.125%, 12/11/2037(A) | 5,465 | 5,076 | ||||||||
| 5.750%, 09/30/2049 | 4,630 | 3,580 | ||||||||
| 49,054 | ||||||||||
| Sri Lanka — 0.5% | ||||||||||
| Sri Lanka Government International Bond | ||||||||||
| 3.600%, 06/15/2035(A)(B) | 1,916 | 1,446 | ||||||||
| 3.600%, 05/15/2036(A)(B) | 38 | 34 | ||||||||
| 3.600%, 02/15/2038(B) | 2,278 | 2,010 | ||||||||
| 3.600%, 02/15/2038(A)(B) | 781 | 689 | ||||||||
| 3.350%, 03/15/2033(B) | 789 | 659 | ||||||||
| 4,838 | ||||||||||
| Supra-National — 2.0% | ||||||||||
| Andina de Fomento MTN | ||||||||||
| 7.700%, 03/06/2029 | INR | 190,000 | 1,967 | |||||||
| Asian Development Bank MTN | ||||||||||
| 4.500%, 05/30/2028 | PEN | 3,000 | 840 | |||||||
| Asian Infrastructure Investment Bank MTN | ||||||||||
| 7.200%, 07/02/2031 | INR | 36,100 | 366 | |||||||
| 7.000%, 03/01/2029 | 110,000 | 1,128 | ||||||||
| 6.650%, 06/30/2033 | 302,200 | 2,935 | ||||||||
| Face Amount | Market Value | |||||||||
| Description | (Thousands) | ($ Thousands) | ||||||||
| GLOBAL BONDS (continued) | ||||||||||
| European Bank for Reconstruction & Development MTN | ||||||||||
| 22.500%, 07/31/2026 | NGN | 425,000 | $ | 307 | ||||||
| 21.000%, 07/21/2026 | 350,000 | 253 | ||||||||
| Inter-American Development Bank MTN | ||||||||||
| 7.000%, 08/08/2033 | INR | 224,000 | 2,249 | |||||||
| International Bank for Reconstruction & Development MTN | ||||||||||
| 7.050%, 07/22/2029 | 109,000 | 1,114 | ||||||||
| 6.750%, 07/13/2029 | 182,600 | 1,847 | ||||||||
| 6.500%, 04/17/2030 | 180,000 | 1,801 | ||||||||
| 2.250%, 01/19/2029 | CNY | 6,000 | 886 | |||||||
| International Finance MTN | ||||||||||
| 0.000%, 08/16/2028(E) | COP | 16,480,000 | 3,346 | |||||||
| 19,039 | ||||||||||
| Swaziland — 0.1% | ||||||||||
| Eswatini Government Bond MTN | ||||||||||
| 12.175%, 08/01/2030 | ZAR | 7,000 | 403 | |||||||
| 11.875%, 05/08/2027 | 9,000 | 530 | ||||||||
| 933 | ||||||||||
| Tajikistan — 0.1% | ||||||||||
| Republic of Tajikistan International Bond | ||||||||||
| 7.125%, 09/14/2027 | $ | 845 | 846 | |||||||
| Thailand — 1.1% | ||||||||||
| Thailand Government Bond | ||||||||||
| 3.450%, 06/17/2043 | THB | 113,000 | 3,530 | |||||||
| 3.390%, 06/17/2037 | 22,914 | 758 | ||||||||
| 3.300%, 06/17/2038 | 69,684 | 2,240 | ||||||||
| 2.800%, 06/17/2034 | 28,924 | 921 | ||||||||
| 2.750%, 06/17/2052 | 1,861 | 50 | ||||||||
| 2.410%, 03/17/2035 | 44,400 | 1,371 | ||||||||
| 2.125%, 12/17/2026 | 5,000 | 153 | ||||||||
| 2.000%, 06/17/2042 | 44,962 | 1,182 | ||||||||
| 10,205 | ||||||||||
| Trinidad & Tobago — 0.3% | ||||||||||
| Port of Spain Waterfront Development | ||||||||||
| 7.875%, 02/19/2040 | $ | 1,988 | 1,988 | |||||||
| Telecommunications Services of Trinidad & Tobago | ||||||||||
| 8.875%, 10/18/2029 | 610 | 616 | ||||||||
| Trinidad & Tobago Government International Bond | ||||||||||
| 6.500%, 01/28/2036(A) | 440 | 437 | ||||||||
| 3,041 | ||||||||||
| Tunisia — 0.2% | ||||||||||
| Tunisian Republic MTN | ||||||||||
| 3.500%, 02/03/2033 | JPY | 400,000 | 2,041 | |||||||
| SEI Institutional International Trust | 51 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
Emerging Markets Debt Fund (Continued)
| Face Amount | Market Value | |||||||||
| Description | (Thousands) | ($ Thousands) | ||||||||
| GLOBAL BONDS (continued) | ||||||||||
| Turkey — 3.3% | ||||||||||
| Hazine Mustesarligi Varlik Kiralama | ||||||||||
| 6.750%, 09/01/2030(A) | $ | 1,826 | $ | 1,828 | ||||||
| Turkiye Government Bond | ||||||||||
| 41.000%, 05/05/2027 | TRY | 50,000 | 1,128 | |||||||
| 37.840%, 07/14/2027 | 50,000 | 1,098 | ||||||||
| 36.780%, 10/13/2027 | 125,000 | 2,721 | ||||||||
| 31.080%, 11/08/2028 | 50,000 | 1,015 | ||||||||
| 30.000%, 09/12/2029 | 151,300 | 2,966 | ||||||||
| 26.200%, 10/05/2033 | 98,092 | 1,882 | ||||||||
| Turkiye Government International Bond | ||||||||||
| 9.875%, 01/15/2028 | $ | 3,036 | 3,237 | |||||||
| 6.875%, 01/14/2038 | 1,400 | 1,309 | ||||||||
| 6.300%, 03/14/2033 | 4,412 | 4,173 | ||||||||
| 5.750%, 05/11/2047 | 7,485 | 5,596 | ||||||||
| 4.875%, 04/16/2043 | 400 | 281 | ||||||||
| Zorlu Enerji Elektrik Uretim | ||||||||||
| 11.000%, 04/23/2030 | 4,460 | 3,923 | ||||||||
| 31,157 | ||||||||||
| Ukraine — 1.0% | ||||||||||
| NAK Naftogaz Ukraine via Kondor Finance | ||||||||||
| 7.125%, 07/19/2026(G) | EUR | 506 | 473 | |||||||
| NPC Ukrenergo | ||||||||||
| 6.875%, 11/09/2026(G) | 731 | 672 | ||||||||
| Ukraine Government International Bond | ||||||||||
| 4.500%, 02/01/2029(B) | $ | 235 | 165 | |||||||
| 4.500%, 02/01/2034(B) | 526 | 280 | ||||||||
| 4.500%, 02/01/2035(B) | 1,374 | 719 | ||||||||
| 4.500%, 02/01/2036(B) | 592 | 304 | ||||||||
| 4.000%, 02/01/2032(B) | 872 | 629 | ||||||||
| 4.000%, 02/01/2032(A)(B) | 3,548 | 2,562 | ||||||||
| 0.000%, 02/01/2030(B)(D) | 205 | 120 | ||||||||
| 0.000%, 02/01/2034(B)(D) | 2,087 | 893 | ||||||||
| 0.000%, 02/01/2035(B)(D) | 3,830 | 1,775 | ||||||||
| 0.000%, 02/01/2035(A)(B)(D) | 174 | 81 | ||||||||
| 0.000%, 02/01/2036(B)(D) | 540 | 251 | ||||||||
| 8,924 | ||||||||||
| United Arab Emirates — 1.0% | ||||||||||
| Abu Dhabi Government International Bond | ||||||||||
| 4.250%, 10/02/2035(A) | 3,075 | 2,946 | ||||||||
| 3.125%, 09/30/2049 | 3,124 | 2,056 | ||||||||
| Abu Dhabi Government International Bond MTN | ||||||||||
| 1.625%, 06/02/2028 | 1,512 | 1,424 | ||||||||
| DAE Sukuk Difc MTN | ||||||||||
| 4.500%, 10/16/2030(A) | 427 | 407 | ||||||||
| Finance Department Government of Sharjah MTN | ||||||||||
| 4.000%, 07/28/2050 | 2,304 | 1,434 | ||||||||
| Pearl Petroleum | ||||||||||
| 13.000%, 05/15/2028(A) | 1,100 | 1,180 | ||||||||
| 9,447 | ||||||||||
| Face Amount | Market Value | |||||||||
| Description | (Thousands) | ($ Thousands) | ||||||||
| GLOBAL BONDS (continued) | ||||||||||
| Uruguay — 1.1% | ||||||||||
| Uruguay Government International Bond | ||||||||||
| 9.750%, 07/20/2033 | UYU | 7,600 | $ | 207 | ||||||
| 8.000%, 10/29/2035 | 15,400 | 384 | ||||||||
| 5.750%, 10/28/2034 | $ | 4,719 | 4,926 | |||||||
| 4.975%, 04/20/2055 | 201 | 178 | ||||||||
| Uruguay Monetary Regulation Bill | ||||||||||
| 0.000%, 06/05/2026(E)(F) | UYU | 2,050 | 50 | |||||||
| 0.000%, 07/31/2026(E)(F) | 36,419 | 877 | ||||||||
| 0.000%, 09/04/2026(E)(F) | 122,289 | 2,931 | ||||||||
| 0.000%, 10/02/2026(E)(F) | 26,405 | 630 | ||||||||
| 10,183 | ||||||||||
| Uzbekistan — 1.3% | ||||||||||
| Jscb Agrobank | ||||||||||
| 9.250%, 10/02/2029 | $ | 300 | 321 | |||||||
| National Bank of Uzbekistan | ||||||||||
| 19.875%, 07/05/2027 | UZS | 4,200,000 | 357 | |||||||
| Republic of Uzbekistan International Bond | ||||||||||
| 16.250%, 10/12/2026(A) | 5,740,000 | 485 | ||||||||
| 15.500%, 02/25/2028(A) | 36,240,000 | 3,173 | ||||||||
| 6.947%, 05/25/2032 | $ | 400 | 418 | |||||||
| 6.900%, 02/28/2032 | 987 | 1,028 | ||||||||
| 5.375%, 05/29/2027 | EUR | 780 | 907 | |||||||
| 3.900%, 10/19/2031 | $ | 919 | 829 | |||||||
| TBC Bank Group PLC (H) | ||||||||||
| 22.000%, 06/05/2028 | 20,800,000 | 1,859 | ||||||||
| Uzbek Industrial and Construction Bank ATB | ||||||||||
| 21.000%, 07/24/2027 | UZS | 10,220,000 | 886 | |||||||
| 8.950%, 07/24/2029 | $ | 500 | 528 | |||||||
| Uzbekneftegaz JSC | ||||||||||
| 8.750%, 05/07/2030 | 1,000 | 1,055 | ||||||||
| 4.750%, 11/16/2028 | 772 | 737 | ||||||||
| 12,583 | ||||||||||
| Venezuela — 1.9% | ||||||||||
| La Electricidad de Caracas | ||||||||||
| 8.500%, 12/31/2059(G) | 1,479 | 445 | ||||||||
| Petroleos de Venezuela | ||||||||||
| 12.750%, 02/17/2022(G) | 1,800 | 815 | ||||||||
| 9.750%, 05/17/2035(G) | 11,310 | 4,697 | ||||||||
| 9.000%, 11/17/2021(G) | 5,300 | 2,027 | ||||||||
| 6.000%, 10/28/2022(G) | 1,800 | 536 | ||||||||
| 6.000%, 11/15/2026(G) | 178 | 61 | ||||||||
| 6.000%, 05/16/2034(G) | 3,767 | 1,287 | ||||||||
| 5.500%, 04/12/2037(G) | 1,444 | 483 | ||||||||
| 5.375%, 04/12/2027(G) | 3,506 | 1,165 | ||||||||
| Venezuela Government International Bond | ||||||||||
| 12.750%, 08/23/2022(G) | 3,710 | 1,864 | ||||||||
| 8.250%, 12/05/2026(G) | 1,904 | 812 | ||||||||
| 7.750%, 10/13/2029(G) | 9,140 | 3,725 | ||||||||
| 17,917 | ||||||||||
| 52 | SEI Institutional International Trust |
| Face Amount | Market Value | |||||||||
| Description | (Thousands) | ($ Thousands) | ||||||||
| GLOBAL BONDS (continued) | ||||||||||
| Vietnam — 0.1% | ||||||||||
| Mong Duong Finance Holdings BV | ||||||||||
| 5.125%, 05/07/2029(A) | $ | 681 | $ | 670 | ||||||
| Zambia — 0.2% | ||||||||||
| Zambia Government Bond | ||||||||||
| 20.000%, 06/23/2040 | ZMW | 1,186 | 69 | |||||||
| 19.000%, 08/18/2035 | 2,372 | 135 | ||||||||
| 17.190%, 01/26/2036 | 4,745 | 253 | ||||||||
| 10.000%, 06/26/2026 | 729 | 38 | ||||||||
| Zambia Government International Bond | ||||||||||
| 5.750%, 06/30/2033(B) | $ | 1,119 | 1,049 | |||||||
| 1,544 | ||||||||||
| Total Global Bonds | ||||||||||
| (Cost
$833,892) ($ Thousands) |
849,956 | |||||||||
| U.S. TREASURY OBLIGATIONS — 2.2% | ||||||||||
| U.S. Treasury Bill | ||||||||||
| 3.652%, 04/16/2026 (F) | 3,800 | 3,794 | ||||||||
| 3.632%, 06/11/2026 (F) | 3,400 | 3,376 | ||||||||
| 3.625%, 04/21/2026 (F) | 1,000 | 998 | ||||||||
| U.S. Treasury Note | ||||||||||
| 3.843%, USBMMY3M + 0.190%, 10/31/2027 (C) | 3,000 | 3,004 | ||||||||
| 3.752%, USBMMY3M + 0.099%, 01/31/2028 (C) | 5,500 | 5,500 | ||||||||
| 3.125%, 08/31/2029 | 3,500 | 3,417 | ||||||||
| Total U.S. Treasury Obligations | ||||||||||
| (Cost $19,997) ($ Thousands) | 20,089 | |||||||||
| LOAN PARTICIPATIONS — 0.9% | ||||||||||
| Cote d'Ivoire — 0.5% | ||||||||||
| Republic of Cote d'Ivoire | ||||||||||
| 0.000%, 03/09/2027 | 2,210 | 2,540 | ||||||||
| Republic of Cote d'Ivoire, First Lien | ||||||||||
| 4.991%, 07/14/2026 (H) | 1,972 | 2,272 | ||||||||
| 4,812 | ||||||||||
| Russia — 0.1% | ||||||||||
| SRBIJA | ||||||||||
| 7.972%, 06/13/2029 (H) | 1,000 | 1,141 | ||||||||
| Tanzania — 0.3% | ||||||||||
| United Republic of Tanzania, First Lien | ||||||||||
| 9.135%, 04/28/2031 (H) | 260 | 257 | ||||||||
| Face Amount | Market Value | |||||||
| Description | (Thousands) | ($ Thousands) | ||||||
| LOAN PARTICIPATIONS (continued) | ||||||||
| 8.827%, 01/15/2032 | 2,375 | $ | 2,364 | |||||
| 2,621 | ||||||||
| Total Loan Participations | ||||||||
| (Cost $8,552) ($ Thousands) | 8,574 | |||||||
| PURCHASED OPTIONS — 0.1% | ||||||||
| Total Purchased Options | ||||||||
| (Cost $958) ($ Thousands) | 623 | |||||||
| Total Investments in Securities — 93.9% | ||||||||
| (Cost $863,399) ($ Thousands) | $ | 879,242 | ||||||
| WRITTEN OPTIONS — (0.1)% | ||||||||
| Total Written Options | ||||||||
| (Premiums Received $608) ($ Thousands) | $ | (601 | ) | |||||
| SEI Institutional International Trust | 53 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
Emerging Markets Debt Fund (Continued)
A list of open exchange traded options contracts for the Fund at March 31, 2026, is as follows:
| Description | Number of Contracts | Notional Amount (Thousands) |
Exercise Price | Expiration Date | Value (Thousands) |
|||||||||||||
| PURCHASED OPTIONS — 0.1% | ||||||||||||||||||
| Put Options | ||||||||||||||||||
| EUR PUT/HUF CALL | 180,000 | $ | 67,500 | $ | 375.00 | 5/16/2026 | $ | 64 | ||||||||||
| EUR PUT/HUF CALL | 180,000 | 67,500 | 375.00 | 5/16/2026 | 63 | |||||||||||||
| EUR PUT/HUF CALL | 180,000 | 66,600 | 370.00 | 5/16/2026 | 46 | |||||||||||||
| EUR PUT/HUF CALL | 180,000 | 66,600 | 370.00 | 4/18/2026 | 43 | |||||||||||||
| EUR PUT/HUF CALL | 180,000 | 65,700 | 365.00 | 5/16/2026 | 30 | |||||||||||||
| EUR PUT/HUF CALL | 180,000 | 65,700 | 365.00 | 5/16/2026 | 29 | |||||||||||||
| EUR PUT/HUF CALL | 170,000 | 61,200 | 360.00 | 6/20/2026 | 18 | |||||||||||||
| EUR PUT/HUF CALL | 170,000 | 61,200 | 360.00 | 6/20/2026 | 19 | |||||||||||||
| USD PUT/BRL CALL | 6,900,000 | 21,390 | 3.10 | 4/18/2026 | 25 | |||||||||||||
| USD PUT/BRL CALL | 3,400,000 | 2,913,800 | 857.00 | 5/16/2026 | 7 | |||||||||||||
| USD PUT/BRL CALL | 3,300,000 | 2,722,500 | 825.00 | 5/16/2026 | 1 | |||||||||||||
| USD PUT/CLP CALL | 7,400,000 | 654,900 | 88.50 | 5/16/2026 | 1 | |||||||||||||
| USD PUT/HUF CALL | 6,600,000 | 600,600 | 91.00 | 8/22/2026 | 16 | |||||||||||||
| USD PUT/HUF CALL | 730,000 | 89,060 | 122.00 | 7/18/2026 | 1 | |||||||||||||
| USD PUT/INR CALL | 6,800,000 | 9,792,000 | 1,440.00 | 4/18/2026 | 7 | |||||||||||||
| USD PUT/INR CALL | 6,900,000 | 118,335 | 17.15 | 7/18/2026 | 36 | |||||||||||||
| USD PUT/MXN CALL | 7,000,000 | 111,650 | 15.95 | 5/16/2026 | 14 | |||||||||||||
| USD PUT/PLN CALL | 3,400,000 | 53,890 | 15.85 | 8/22/2026 | 20 | |||||||||||||
| USD PUT/ZAR CALL | 170,000 | 2,635 | 15.50 | 5/16/2026 | 5 | |||||||||||||
| USD PUT/ZAR CALL | 3,300,000 | 58,021 | 17.58 | 12/19/2026 | 178 | |||||||||||||
| 17,660,781 | 623 | |||||||||||||||||
| Total Purchased Options | $ | 17,660,781 | $ | 623 | ||||||||||||||
| WRITTEN OPTIONS — (0.1)% | ||||||||||||||||||
| Put Options | ||||||||||||||||||
| USD CALL/CLP PUT | (10,350,000 | ) | $ | (31,050 | ) | 3.00 | 04/18/2026 | $ | (3 | ) | ||||||||
| USD PUT/CLP CALL | (11,100,000 | ) | (949,050 | ) | 85.50 | 05/16/2026 | – | |||||||||||
| USD PUT/HUF CALL | (9,900,000 | ) | (881,100 | ) | 89.00 | 08/22/2026 | (8 | ) | ||||||||||
| USD PUT/INR CALL | (8,500,000 | ) | (11,900,000 | ) | 1,400.00 | 04/18/2026 | (1 | ) | ||||||||||
| USD PUT/INR CALL | (6,900,000 | ) | (119,370 | ) | 17.30 | 05/16/2026 | (18 | ) | ||||||||||
| USD PUT/PLN CALL | (3,400,000 | ) | (51,680 | ) | 15.20 | 08/22/2026 | (5 | ) | ||||||||||
| USD PUT/ZAR CALL | (8,400,000 | ) | (130,620 | ) | 15.55 | 05/16/2026 | (4 | ) | ||||||||||
| (14,062,870 | ) | (39 | ) | |||||||||||||||
| Call Options | ||||||||||||||||||
| EUR PUT/HUF CALL | (6,900,000 | ) | (38,295 | ) | 5.55 | 04/18/2026 | (23 | ) | ||||||||||
| EUR PUT/HUF CALL | (3,300,000 | ) | (2,953,500 | ) | 895.00 | 05/16/2026 | (135 | ) | ||||||||||
| USD CALL/BRL PUT | (1,700,000 | ) | (1,581,000 | ) | 930.00 | 10/17/2026 | (67 | ) | ||||||||||
| USD CALL/CLP PUT | (3,300,000 | ) | (310,200 | ) | 94.00 | 08/22/2026 | (78 | ) | ||||||||||
| USD PUT/BRL CALL | (6,650,000 | ) | (27,265,000 | ) | 4,100.00 | 08/22/2026 | (96 | ) | ||||||||||
| USD PUT/ILS CALL | (1,700,000 | ) | (2,550,000 | ) | 1,500.00 | 04/18/2026 | (28 | ) | ||||||||||
| USD PUT/INR CALL | (1,700,000 | ) | (29,750 | ) | 17.50 | 10/17/2026 | (61 | ) | ||||||||||
| USD PUT/JPY CALL | (1,700,000 | ) | (28,560 | ) | 16.80 | 08/22/2026 | (74 | ) | ||||||||||
| (34,756,305 | ) | (562 | ) | |||||||||||||||
| Total Written Options | $ | (48,819,175 | ) | $ | (601 | ) | ||||||||||||
| 54 | SEI Institutional International Trust |
A list of the open futures contracts held by the Fund at March 31, 2026, is as follows:
| Type of Contract | Number of Contracts | Expiration Date | Notional Amount (Thousands) | Value (Thousands) | Unrealized Appreciation(Thousands) | |||||||||||||
| Short Contracts | ||||||||||||||||||
| Euro-SCHATZ | (7) | Jun-2026 | $ | (864 | ) | $ | (853 | ) | $ | 6 | ||||||||
| U.S. 2-Year Treasury Notes | (11) | Jun-2026 | (2,297 | ) | (2,281 | ) | 16 | |||||||||||
| U.S. 5-Year Treasury Notes | (59) | Jun-2026 | (6,472 | ) | (6,382 | ) | 90 | |||||||||||
| U.S. 10-Year Treasury Notes | (11) | Jun-2026 | (1,245 | ) | (1,222 | ) | 23 | |||||||||||
| Ultra 10-Year U.S. Treasury Notes | (2) | Jun-2026 | (232 | ) | (227 | ) | 5 | |||||||||||
| $ | (11,110 | ) | $ | (10,965 | ) | $ | 140 | |||||||||||
A list of the open forward foreign currency contracts held by the Fund at March 31, 2026, is as follows:
| Counterparty | Settlement Date | Currency to Deliver (Thousands) | Currency to Receive (Thousands) | Unrealized Appreciation (Depreciation) (Thousands) |
|||||||||||
| Bank of America | 04/02/26 | EUR | 755 | HUF | 292,050 | $ | 2 | ||||||||
| Bank of America | 04/06/26 | BRL | 5,827 | USD | 1,050 | (65 | ) | ||||||||
| Bank of America | 04/16/26 | EUR | 1,500 | RON | 7,700 | 9 | |||||||||
| Bank of America | 04/24/26 | USD | 501 | ZAR | 8,171 | (24 | ) | ||||||||
| Bank of America | 05/04/26 | BRL | 7,146 | USD | 1,345 | (15 | ) | ||||||||
| Bank of America | 05/11/26 | USD | 1,426 | HUF | 490,228 | 33 | |||||||||
| Bank of America | 05/13/26 | CLP | 1,242,650 | USD | 1,450 | 117 | |||||||||
| Bank of America | 05/28/26 | USD | 1,187 | ZAR | 18,927 | (85 | ) | ||||||||
| Bank of America | 06/05/26 | RON | 3,666 | EUR | 712 | (4 | ) | ||||||||
| Bank of America | 06/17/26 | USD | 52 | COP | 193,837 | 1 | |||||||||
| Bank of America | 06/17/26 | USD | 714 | PLN | 2,637 | (7 | ) | ||||||||
| Bank of America | 06/17/26 | USD | 738 | CZK | 15,438 | (13 | ) | ||||||||
| Bank of America | 06/17/26 | USD | 1,077 | CLP | 992,818 | (12 | ) | ||||||||
| Bank of America | 06/17/26 | USD | 1,798 | HUF | 603,570 | (5 | ) | ||||||||
| Bank of America | 06/17/26 | USD | 3,151 | PEN | 11,047 | 4 | |||||||||
| Bank of America | 06/17/26 | USD | 3,424 | KRW | 5,083,427 | (83 | ) | ||||||||
| Bank of America | 06/17/26 | PEN | 2,895 | USD | 842 | 15 | |||||||||
| Bank of America | 06/17/26 | PEN | 1,827 | USD | 520 | (1 | ) | ||||||||
| Bank of America | 06/17/26 | CZK | 5,236 | USD | 247 | 1 | |||||||||
| Bank of America | 06/17/26 | USD | 8,459 | CNY | 58,138 | – | |||||||||
| Bank of America | 06/17/26 | USD | 9,569 | MXN | 171,982 | (100 | ) | ||||||||
| Bank of America | 06/17/26 | PLN | 10,379 | USD | 2,783 | (1 | ) | ||||||||
| Bank of America | 06/17/26 | THB | 56,160 | USD | 1,723 | 8 | |||||||||
| Bank of America | 06/17/26 | INR | 80,901 | USD | 866 | 18 | |||||||||
| Bank of America | 06/17/26 | KRW | 1,274,394 | USD | 845 | 7 | |||||||||
| Bank of America | 06/17/26 | IDR | 23,044,744 | USD | 1,355 | – | |||||||||
| Bank of America | 08/25/26 | INR | 151,916 | USD | 1,650 | 71 | |||||||||
| Barclays PLC | 04/02/26 | USD | 1,332 | RON | 5,891 | (1 | ) | ||||||||
| Barclays PLC | 04/02/26 | USD | 11,017 | BRL | 57,209 | (61 | ) | ||||||||
| Barclays PLC | 04/15/26 | GBP | 4,150 | USD | 5,586 | 114 | |||||||||
| Barclays PLC | 04/30/26 | USD | 1,185 | TRY | 54,900 | 1 | |||||||||
| Barclays PLC | 05/05/26 | RON | 510 | USD | 115 | – | |||||||||
| Barclays PLC | 06/17/26 | ZAR | 31,983 | USD | 1,897 | 39 | |||||||||
| Barclays PLC | 12/03/26 | USD | 383 | ZAR | 6,400 | (17 | ) | ||||||||
| Barclays PLC | 12/03/26 | ZAR | 6,600 | USD | 396 | 18 | |||||||||
| SEI Institutional International Trust | 55 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
Emerging Markets Debt Fund (Continued)
| Counterparty | Settlement Date | Currency to Deliver (Thousands) | Currency to Receive (Thousands) | Unrealized Appreciation (Depreciation) (Thousands) |
|||||||||||
| BBVA Securities Inc. | 06/17/26 | COP | 2,260,000 | USD | 608 | $ | – | ||||||||
| BNP Paribas | 06/05/26 | RON | 9,166 | EUR | 1,779 | (10 | ) | ||||||||
| BNP Paribas | 06/17/26 | PEN | 6,257 | USD | 1,827 | 40 | |||||||||
| BNP Paribas | 12/03/26 | ZAR | 2,740 | USD | 163 | 6 | |||||||||
| Citigroup | 04/02/26 | USD | 6,289 | BRL | 32,627 | (41 | ) | ||||||||
| Citigroup | 04/30/26 | EGP | 8,991 | USD | 181 | 22 | |||||||||
| Citigroup | 06/17/26 | PEN | 1,173 | USD | 342 | 7 | |||||||||
| Citigroup | 06/17/26 | USD | 1,539 | PEN | 5,400 | 4 | |||||||||
| Deutsche Bank | 04/01/26 | EUR | 1,141 | USD | 1,342 | 28 | |||||||||
| Deutsche Bank | 04/01/26 | USD | 1,328 | EUR | 1,120 | (38 | ) | ||||||||
| Deutsche Bank | 04/01/26 | USD | 1,340 | HUF | 455,699 | 19 | |||||||||
| Deutsche Bank | 04/01/26 | HUF | 447,440 | USD | 1,328 | (7 | ) | ||||||||
| Deutsche Bank | 04/02/26 | BRL | 95 | USD | 18 | – | |||||||||
| Deutsche Bank | 04/02/26 | USD | 208 | BRL | 1,100 | 3 | |||||||||
| Deutsche Bank | 04/08/26 | EUR | 690 | USD | 806 | 11 | |||||||||
| Deutsche Bank | 04/08/26 | USD | 810 | EUR | 690 | (15 | ) | ||||||||
| Deutsche Bank | 04/08/26 | USD | 824 | HUF | 276,228 | – | |||||||||
| Deutsche Bank | 04/08/26 | BRL | 1,852 | USD | 350 | (4 | ) | ||||||||
| Deutsche Bank | 04/08/26 | HUF | 276,228 | USD | 810 | (13 | ) | ||||||||
| Deutsche Bank | 04/14/26 | USD | 116 | EUR | 100 | (1 | ) | ||||||||
| Deutsche Bank | 04/24/26 | ZAR | 9,736 | USD | 578 | 10 | |||||||||
| Deutsche Bank | 04/27/26 | KRW | 2,340,000 | USD | 1,600 | 65 | |||||||||
| Deutsche Bank | 04/30/26 | KZT | 1,087,740 | USD | 2,229 | (30 | ) | ||||||||
| Deutsche Bank | 05/05/26 | EUR | 1,440 | HUF | 555,617 | (7 | ) | ||||||||
| Deutsche Bank | 05/05/26 | HUF | 555,617 | EUR | 1,440 | 7 | |||||||||
| Deutsche Bank | 05/06/26 | USD | 1,400 | PLN | 5,002 | (58 | ) | ||||||||
| Deutsche Bank | 05/06/26 | PLN | 6,164 | USD | 1,675 | 21 | |||||||||
| Deutsche Bank | 05/08/26 | INR | 155,034 | USD | 1,740 | 104 | |||||||||
| Deutsche Bank | 05/11/26 | EUR | 1,243 | HUF | 478,303 | (11 | ) | ||||||||
| Deutsche Bank | 05/11/26 | USD | 1,421 | EUR | 1,188 | (49 | ) | ||||||||
| Deutsche Bank | 05/11/26 | HUF | 490,228 | USD | 1,421 | (39 | ) | ||||||||
| Deutsche Bank | 05/11/26 | HUF | 500,237 | EUR | 1,300 | 11 | |||||||||
| Deutsche Bank | 05/11/26 | NGN | 1,118,110 | USD | 796 | 1 | |||||||||
| Deutsche Bank | 05/20/26 | USD | 854 | CLP | 737,989 | (63 | ) | ||||||||
| Deutsche Bank | 05/20/26 | CLP | 1,326,054 | USD | 1,496 | 73 | |||||||||
| Deutsche Bank | 05/26/26 | EUR | 1,188 | USD | 1,405 | 33 | |||||||||
| Deutsche Bank | 05/26/26 | USD | 1,406 | EUR | 1,188 | (34 | ) | ||||||||
| Deutsche Bank | 05/26/26 | USD | 1,453 | HUF | 483,991 | (14 | ) | ||||||||
| Deutsche Bank | 05/26/26 | HUF | 483,991 | USD | 1,406 | (33 | ) | ||||||||
| Deutsche Bank | 05/28/26 | USD | 542 | ZAR | 8,673 | (37 | ) | ||||||||
| Deutsche Bank | 05/28/26 | ZAR | 20,525 | USD | 1,258 | 64 | |||||||||
| Deutsche Bank | 06/11/26 | USD | 565 | UZS | 7,004,580 | 10 | |||||||||
| Deutsche Bank | 06/17/26 | USD | 34 | PEN | 118 | – | |||||||||
| Deutsche Bank | 06/17/26 | USD | 191 | ZAR | 3,195 | (6 | ) | ||||||||
| Deutsche Bank | 06/17/26 | CNY | 359 | USD | 53 | – | |||||||||
| Deutsche Bank | 06/17/26 | USD | 607 | IDR | 10,257,812 | (4 | ) | ||||||||
| Deutsche Bank | 06/17/26 | USD | 842 | EUR | 723 | (6 | ) | ||||||||
| Deutsche Bank | 06/17/26 | USD | 1,310 | MXN | 23,335 | (25 | ) | ||||||||
| Deutsche Bank | 06/17/26 | EUR | 1,483 | USD | 1,715 | – | |||||||||
| Deutsche Bank | 06/17/26 | EUR | 739 | USD | 852 | (3 | ) | ||||||||
| 56 | SEI Institutional International Trust |
| Counterparty | Settlement Date | Currency to Deliver (Thousands) | Currency to Receive (Thousands) | Unrealized Appreciation (Depreciation) (Thousands) |
|||||||||||
| Deutsche Bank | 06/17/26 | USD | 2,584 | HUF | 884,722 | $ | 44 | ||||||||
| Deutsche Bank | 06/17/26 | USD | 6,533 | INR | 608,590 | (154 | ) | ||||||||
| Deutsche Bank | 06/17/26 | MXN | 54,973 | USD | 3,070 | 43 | |||||||||
| Deutsche Bank | 06/17/26 | INR | 9,814 | USD | 106 | 3 | |||||||||
| Deutsche Bank | 06/17/26 | INR | 81,265 | USD | 848 | (4 | ) | ||||||||
| Deutsche Bank | 06/17/26 | HUF | 287,054 | USD | 850 | (2 | ) | ||||||||
| Deutsche Bank | 06/17/26 | IDR | 1,727,368 | USD | 102 | – | |||||||||
| Deutsche Bank | 06/17/26 | IDR | 14,553,139 | USD | 855 | (1 | ) | ||||||||
| Deutsche Bank | 06/25/26 | USD | 523 | UZS | 6,500,000 | 10 | |||||||||
| Deutsche Bank | 07/01/26 | USD | 1,090 | JPY | 164,479 | (48 | ) | ||||||||
| Deutsche Bank | 07/01/26 | JPY | 121,519 | USD | 876 | 106 | |||||||||
| Deutsche Bank | 07/09/26 | JPY | 420,952 | USD | 2,670 | 1 | |||||||||
| Deutsche Bank | 08/13/26 | USD | 370 | ZAR | 5,960 | (25 | ) | ||||||||
| Deutsche Bank | 11/20/26 | USD | 582 | UZS | 7,547,205 | 37 | |||||||||
| Deutsche Bank | 01/12/27 | EGP | 47,600 | USD | 883 | 120 | |||||||||
| Deutsche Bank | 05/12/27 | USD | 694 | UZS | 9,331,000 | 71 | |||||||||
| Deutsche Bank | 07/16/27 | USD | 684 | UZS | 8,986,987 | 53 | |||||||||
| Deutsche Bank | 07/20/27 | USD | 318 | UZS | 4,167,205 | 23 | |||||||||
| Deutsche Bank | 12/13/27 | USD | 572 | UZS | 7,913,928 | 77 | |||||||||
| Goldman Sachs | 04/02/26 | USD | 12,012 | BRL | 62,856 | 25 | |||||||||
| Goldman Sachs | 04/02/26 | USD | 69 | BRL | 361 | – | |||||||||
| Goldman Sachs | 04/02/26 | BRL | 285 | USD | 55 | – | |||||||||
| Goldman Sachs | 04/02/26 | BRL | 59,888 | USD | 11,382 | (86 | ) | ||||||||
| Goldman Sachs | 04/06/26 | USD | 323 | BRL | 1,766 | 15 | |||||||||
| Goldman Sachs | 04/30/26 | USD | 471 | TRY | 21,700 | (2 | ) | ||||||||
| Goldman Sachs | 05/05/26 | USD | 9,462 | BRL | 50,111 | 69 | |||||||||
| Goldman Sachs | 05/28/26 | USD | 1,033 | ZAR | 16,725 | (60 | ) | ||||||||
| Goldman Sachs | 06/17/26 | USD | 34 | ILS | 106 | (1 | ) | ||||||||
| Goldman Sachs | 06/17/26 | USD | 37 | TRY | 1,794 | – | |||||||||
| Goldman Sachs | 06/17/26 | USD | 51 | CLP | 46,737 | (1 | ) | ||||||||
| Goldman Sachs | 06/17/26 | USD | 68 | RON | 301 | – | |||||||||
| Goldman Sachs | 06/17/26 | ILS | 107 | USD | 35 | 1 | |||||||||
| Goldman Sachs | 06/17/26 | USD | 119 | ZAR | 2,044 | (1 | ) | ||||||||
| Goldman Sachs | 06/17/26 | USD | 189 | PEN | 660 | – | |||||||||
| Goldman Sachs | 06/17/26 | USD | 220 | CZK | 4,608 | (3 | ) | ||||||||
| Goldman Sachs | 06/17/26 | USD | 284 | IDR | 4,820,280 | – | |||||||||
| Goldman Sachs | 06/17/26 | PLN | 465 | USD | 126 | 1 | |||||||||
| Goldman Sachs | 06/17/26 | RON | 712 | USD | 161 | 1 | |||||||||
| Goldman Sachs | 06/17/26 | TRY | 1,837 | USD | 37 | – | |||||||||
| Goldman Sachs | 06/17/26 | USD | 2,007 | HUF | 695,086 | 58 | |||||||||
| Goldman Sachs | 06/17/26 | USD | 9,297 | INR | 864,370 | (238 | ) | ||||||||
| Goldman Sachs | 06/17/26 | INR | 24,011 | USD | 254 | 2 | |||||||||
| Goldman Sachs | 06/17/26 | ZAR | 97,469 | USD | 5,780 | 118 | |||||||||
| Goldman Sachs | 06/17/26 | MXN | 97,528 | USD | 5,475 | 105 | |||||||||
| Goldman Sachs | 06/17/26 | COP | 192,208 | USD | 51 | (1 | ) | ||||||||
| HSBC | 04/02/26 | USD | 448 | PLN | 1,600 | (19 | ) | ||||||||
| HSBC | 04/02/26 | USD | 1,727 | INR | 157,541 | (66 | ) | ||||||||
| HSBC | 04/02/26 | INR | 313,282 | USD | 3,336 | 33 | |||||||||
| HSBC | 04/30/26 | TRY | 3,250 | USD | 71 | – | |||||||||
| HSBC | 05/13/26 | USD | 128 | TRY | 5,950 | (1 | ) | ||||||||
| SEI Institutional International Trust | 57 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
Emerging Markets Debt Fund (Continued)
| Counterparty | Settlement Date | Currency to Deliver (Thousands) | Currency to Receive (Thousands) | Unrealized Appreciation (Depreciation) (Thousands) |
|||||||||||
| HSBC | 06/05/26 | RON | 3,666 | EUR | 711 | $ | (4 | ) | |||||||
| HSBC | 06/10/26 | USD | 117 | TRY | 5,700 | 2 | |||||||||
| HSBC | 06/17/26 | USD | 243 | ZAR | 4,100 | (5 | ) | ||||||||
| HSBC | 06/17/26 | USD | 1,904 | PEN | 6,595 | (21 | ) | ||||||||
| HSBC | 06/17/26 | USD | 5,315 | INR | 499,797 | (76 | ) | ||||||||
| HSBC | 06/17/26 | THB | 6,450 | USD | 197 | – | |||||||||
| HSBC | 06/17/26 | ZAR | 35,715 | USD | 2,119 | 45 | |||||||||
| HSBC | 12/03/26 | USD | 158 | ZAR | 2,700 | (4 | ) | ||||||||
| HSBC | 12/03/26 | ZAR | 1,800 | USD | 111 | 8 | |||||||||
| ICBC Financial Services | 04/30/26 | USD | 1,231 | KZT | 676,599 | 174 | |||||||||
| ICBC Financial Services | 04/30/26 | EGP | 2,004 | USD | 40 | 5 | |||||||||
| ICBC Financial Services | 07/14/26 | EGP | 54,000 | USD | 1,068 | 140 | |||||||||
| ICBC Financial Services | 11/13/26 | USD | 1,573 | KZT | 930,000 | 240 | |||||||||
| ICBC Financial Services | 01/28/27 | KES | 23,700 | USD | 169 | (10 | ) | ||||||||
| JPMorgan Chase Bank | 04/02/26 | USD | 52 | BRL | 272 | – | |||||||||
| JPMorgan Chase Bank | 04/02/26 | USD | 36 | BRL | 189 | – | |||||||||
| JPMorgan Chase Bank | 04/02/26 | USD | 509 | KZT | 255,800 | 28 | |||||||||
| JPMorgan Chase Bank | 04/02/26 | RON | 4,152 | USD | 960 | 22 | |||||||||
| JPMorgan Chase Bank | 04/06/26 | USD | 1,061 | BRL | 5,578 | 6 | |||||||||
| JPMorgan Chase Bank | 04/07/26 | USD | 3,500 | THB | 110,739 | (141 | ) | ||||||||
| JPMorgan Chase Bank | 04/07/26 | THB | 110,739 | USD | 3,376 | 17 | |||||||||
| JPMorgan Chase Bank | 04/10/26 | USD | 3,307 | IDR | 55,933,282 | (15 | ) | ||||||||
| JPMorgan Chase Bank | 04/10/26 | IDR | 51,125,060 | USD | 3,031 | 22 | |||||||||
| JPMorgan Chase Bank | 04/13/26 | USD | 140 | COP | 519,778 | 2 | |||||||||
| JPMorgan Chase Bank | 04/13/26 | USD | 166 | PEN | 575 | (2 | ) | ||||||||
| JPMorgan Chase Bank | 04/13/26 | USD | 826 | HUF | 273,481 | (11 | ) | ||||||||
| JPMorgan Chase Bank | 04/13/26 | PEN | 14,803 | USD | 4,342 | 102 | |||||||||
| JPMorgan Chase Bank | 04/13/26 | COP | 14,283,809 | USD | 3,723 | (172 | ) | ||||||||
| JPMorgan Chase Bank | 04/14/26 | USD | 81 | GHS | 1,019 | 11 | |||||||||
| JPMorgan Chase Bank | 04/14/26 | USD | 461 | EUR | 400 | 1 | |||||||||
| JPMorgan Chase Bank | 04/14/26 | USD | 417 | EUR | 360 | (1 | ) | ||||||||
| JPMorgan Chase Bank | 04/14/26 | JPY | 28,800 | USD | 184 | 3 | |||||||||
| JPMorgan Chase Bank | 04/16/26 | USD | 1,118 | KRW | 1,646,000 | (41 | ) | ||||||||
| JPMorgan Chase Bank | 04/16/26 | EGP | 81,635 | USD | 1,591 | 121 | |||||||||
| JPMorgan Chase Bank | 04/22/26 | USD | 973 | INR | 90,126 | (21 | ) | ||||||||
| JPMorgan Chase Bank | 04/24/26 | USD | 356 | ZAR | 5,916 | (11 | ) | ||||||||
| JPMorgan Chase Bank | 04/27/26 | EUR | 1,498 | RSD | 176,800 | 8 | |||||||||
| JPMorgan Chase Bank | 04/27/26 | RSD | 176,800 | EUR | 1,505 | – | |||||||||
| JPMorgan Chase Bank | 04/30/26 | USD | 523 | KZT | 255,800 | 8 | |||||||||
| JPMorgan Chase Bank | 04/30/26 | EUR | 1,572 | RSD | 185,450 | 7 | |||||||||
| JPMorgan Chase Bank | 04/30/26 | EUR | 1,505 | RSD | 176,800 | – | |||||||||
| JPMorgan Chase Bank | 04/30/26 | EGP | 43,505 | USD | 878 | 107 | |||||||||
| JPMorgan Chase Bank | 04/30/26 | KZT | 225,000 | USD | 459 | (8 | ) | ||||||||
| JPMorgan Chase Bank | 04/30/26 | RSD | 362,250 | EUR | 3,075 | (10 | ) | ||||||||
| JPMorgan Chase Bank | 05/04/26 | USD | 1,673 | BRL | 8,835 | 8 | |||||||||
| JPMorgan Chase Bank | 05/04/26 | USD | 3,590 | PHP | 212,105 | (102 | ) | ||||||||
| JPMorgan Chase Bank | 05/04/26 | EGP | 63,500 | USD | 1,282 | 159 | |||||||||
| JPMorgan Chase Bank | 05/05/26 | USD | 68 | BRL | 359 | 1 | |||||||||
| JPMorgan Chase Bank | 05/05/26 | USD | 630 | BRL | 3,300 | (3 | ) | ||||||||
| JPMorgan Chase Bank | 05/06/26 | USD | 3,517 | THB | 110,739 | (149 | ) | ||||||||
| 58 | SEI Institutional International Trust |
| Counterparty | Settlement Date | Currency to Deliver (Thousands) | Currency to Receive (Thousands) | Unrealized Appreciation (Depreciation) (Thousands) |
|||||||||||
| JPMorgan Chase Bank | 05/11/26 | USD | 52 | ZAR | 849 | $ | (3 | ) | |||||||
| JPMorgan Chase Bank | 05/11/26 | USD | 160 | MXN | 2,866 | (1 | ) | ||||||||
| JPMorgan Chase Bank | 05/11/26 | EUR | 712 | USD | 836 | 14 | |||||||||
| JPMorgan Chase Bank | 05/11/26 | USD | 771 | PLN | 2,875 | – | |||||||||
| JPMorgan Chase Bank | 05/11/26 | EUR | 1,737 | RSD | 204,710 | 6 | |||||||||
| JPMorgan Chase Bank | 05/11/26 | PLN | 17,172 | USD | 4,852 | 245 | |||||||||
| JPMorgan Chase Bank | 05/11/26 | PLN | 2,305 | USD | 618 | – | |||||||||
| JPMorgan Chase Bank | 05/11/26 | ZAR | 128,679 | USD | 8,096 | 600 | |||||||||
| JPMorgan Chase Bank | 05/11/26 | MXN | 152,268 | USD | 8,811 | 399 | |||||||||
| JPMorgan Chase Bank | 05/12/26 | USD | 9,996 | KRW | 14,494,202 | (480 | ) | ||||||||
| JPMorgan Chase Bank | 05/12/26 | KRW | 10,488,060 | USD | 7,146 | 260 | |||||||||
| JPMorgan Chase Bank | 06/01/26 | USD | 423 | PHP | 24,651 | (19 | ) | ||||||||
| JPMorgan Chase Bank | 06/08/26 | USD | 748 | BRL | 3,925 | (7 | ) | ||||||||
| JPMorgan Chase Bank | 06/08/26 | CNY | 1,413 | USD | 206 | – | |||||||||
| JPMorgan Chase Bank | 06/08/26 | BRL | 1,644 | USD | 309 | (2 | ) | ||||||||
| JPMorgan Chase Bank | 06/08/26 | USD | 4,925 | HUF | 1,575,570 | (242 | ) | ||||||||
| JPMorgan Chase Bank | 06/08/26 | USD | 12,603 | CNY | 85,621 | (154 | ) | ||||||||
| JPMorgan Chase Bank | 06/08/26 | ZAR | 33,764 | USD | 2,097 | 134 | |||||||||
| JPMorgan Chase Bank | 06/09/26 | USD | 41 | BDT | 5,111 | 1 | |||||||||
| JPMorgan Chase Bank | 06/11/26 | USD | 109 | UZS | 1,340,000 | 1 | |||||||||
| JPMorgan Chase Bank | 06/17/26 | USD | 69 | THB | 2,246 | (1 | ) | ||||||||
| JPMorgan Chase Bank | 06/17/26 | USD | 85 | CNY | 584 | – | |||||||||
| JPMorgan Chase Bank | 06/17/26 | USD | 1,582 | JPY | 251,250 | 8 | |||||||||
| JPMorgan Chase Bank | 06/17/26 | USD | 23 | JPY | 3,572 | – | |||||||||
| JPMorgan Chase Bank | 06/17/26 | USD | 2,397 | HUF | 819,380 | 36 | |||||||||
| JPMorgan Chase Bank | 06/17/26 | USD | 4,823 | MXN | 86,779 | (45 | ) | ||||||||
| JPMorgan Chase Bank | 06/17/26 | EUR | 8,138 | USD | 9,461 | 53 | |||||||||
| JPMorgan Chase Bank | 06/17/26 | ILS | 10,433 | USD | 3,365 | 52 | |||||||||
| JPMorgan Chase Bank | 06/17/26 | PEN | 11,732 | USD | 3,420 | 70 | |||||||||
| JPMorgan Chase Bank | 06/17/26 | CZK | 17,976 | USD | 845 | – | |||||||||
| JPMorgan Chase Bank | 06/17/26 | MXN | 48,448 | USD | 2,716 | 49 | |||||||||
| JPMorgan Chase Bank | 06/17/26 | TRY | 101,273 | USD | 2,105 | 18 | |||||||||
| JPMorgan Chase Bank | 06/17/26 | CLP | 3,141,648 | USD | 3,437 | 67 | |||||||||
| JPMorgan Chase Bank | 06/17/26 | KRW | 3,922,638 | USD | 2,576 | (2 | ) | ||||||||
| JPMorgan Chase Bank | 06/17/26 | COP | 33,780,998 | USD | 8,773 | (306 | ) | ||||||||
| JPMorgan Chase Bank | 06/18/26 | USD | 2,520 | ARS | 3,815,519 | 101 | |||||||||
| JPMorgan Chase Bank | 07/01/26 | USD | 870 | JPY | 121,519 | (100 | ) | ||||||||
| JPMorgan Chase Bank | 07/06/26 | USD | 3,389 | THB | 110,739 | (4 | ) | ||||||||
| JPMorgan Chase Bank | 07/07/26 | UZS | 4,588,247 | USD | 374 | (2 | ) | ||||||||
| JPMorgan Chase Bank | 07/31/26 | USD | 1,960 | INR | 183,200 | (50 | ) | ||||||||
| JPMorgan Chase Bank | 08/10/26 | USD | 611 | ARS | 1,007,000 | 56 | |||||||||
| JPMorgan Chase Bank | 08/24/26 | USD | 1,970 | ARS | 3,089,012 | 55 | |||||||||
| JPMorgan Chase Bank | 09/09/26 | USD | 123 | BDT | 15,549 | 4 | |||||||||
| JPMorgan Chase Bank | 09/16/26 | USD | 270 | TRY | 13,820 | (10 | ) | ||||||||
| JPMorgan Chase Bank | 09/21/26 | USD | 81 | BDT | 10,251 | 2 | |||||||||
| JPMorgan Chase Bank | 10/13/26 | USD | 395 | BDT | 49,900 | 10 | |||||||||
| JPMorgan Chase Bank | 10/20/26 | USD | 1,028 | EGP | 54,051 | (134 | ) | ||||||||
| JPMorgan Chase Bank | 10/22/26 | USD | 195 | BDT | 24,600 | 5 | |||||||||
| JPMorgan Chase Bank | 11/19/26 | USD | 403 | ARS | 671,234 | 12 | |||||||||
| JPMorgan Chase Bank | 12/03/26 | USD | 105 | ZAR | 1,800 | (2 | ) | ||||||||
| SEI Institutional International Trust | 59 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
Emerging Markets Debt Fund (Continued)
| Counterparty | Settlement Date | Currency to Deliver (Thousands) | Currency to Receive (Thousands) | Unrealized Appreciation (Depreciation) (Thousands) |
|||||||||||
| JPMorgan Chase Bank | 12/03/26 | ZAR | 3,890 | USD | 238 | $ | 16 | ||||||||
| JPMorgan Chase Bank | 12/15/26 | USD | 127 | AZN | 228 | 7 | |||||||||
| JPMorgan Chase Bank | 12/23/26 | USD | 1,610 | ARS | 2,762,463 | 55 | |||||||||
| JPMorgan Chase Bank | 01/29/27 | KES | 24,640 | USD | 175 | (10 | ) | ||||||||
| JPMorgan Chase Bank | 02/10/27 | USD | 522 | ARS | 948,795 | 32 | |||||||||
| JPMorgan Chase Bank | 08/25/27 | USD | 825 | AMD | 324,100 | 7 | |||||||||
| JPMorgan Chase Bank | 11/14/28 | USD | 447 | AMD | 187,640 | 23 | |||||||||
| Morgan Stanley | 04/02/26 | BRL | 369 | USD | 70 | – | |||||||||
| Morgan Stanley | 04/06/26 | USD | 359 | BRL | 1,907 | 6 | |||||||||
| Morgan Stanley | 04/06/26 | BRL | 3,623 | USD | 651 | (42 | ) | ||||||||
| Morgan Stanley | 04/14/26 | EUR | 17,800 | USD | 20,886 | 363 | |||||||||
| Morgan Stanley | 04/14/26 | JPY | 253,200 | USD | 1,616 | 22 | |||||||||
| Morgan Stanley | 04/15/26 | USD | 670 | GBP | 500 | (10 | ) | ||||||||
| Morgan Stanley | 04/16/26 | USD | 117 | KRW | 172,000 | (4 | ) | ||||||||
| Morgan Stanley | 04/24/26 | INR | 78,205 | USD | 831 | 5 | |||||||||
| Morgan Stanley | 04/30/26 | USD | 753 | ZAR | 12,100 | (47 | ) | ||||||||
| Morgan Stanley | 05/05/26 | USD | 507 | PEN | 1,700 | (20 | ) | ||||||||
| Morgan Stanley | 05/11/26 | COP | 2,869,000 | USD | 771 | (6 | ) | ||||||||
| Morgan Stanley | 05/20/26 | USD | 449 | CLP | 388,959 | (31 | ) | ||||||||
| Morgan Stanley | 06/17/26 | USD | 52 | MXN | 939 | (1 | ) | ||||||||
| Morgan Stanley | 06/17/26 | USD | 105 | CLP | 95,169 | (3 | ) | ||||||||
| Morgan Stanley | 06/17/26 | USD | 304 | HUF | 102,856 | 2 | |||||||||
| Morgan Stanley | 06/17/26 | USD | 779 | CZK | 16,387 | (10 | ) | ||||||||
| Morgan Stanley | 06/17/26 | EUR | 1,489 | USD | 1,729 | 7 | |||||||||
| Morgan Stanley | 06/17/26 | USD | 4,373 | EGP | 233,147 | (323 | ) | ||||||||
| Morgan Stanley | 06/17/26 | PLN | 11,754 | USD | 3,180 | 27 | |||||||||
| Morgan Stanley | 06/17/26 | RON | 12,091 | USD | 2,747 | 25 | |||||||||
| Morgan Stanley | 06/17/26 | ZAR | 3,009 | USD | 180 | 6 | |||||||||
| Morgan Stanley | 06/17/26 | ZAR | 14,691 | USD | 850 | (3 | ) | ||||||||
| Morgan Stanley | 11/13/26 | USD | 853 | KZT | 503,900 | 129 | |||||||||
| Morgan Stanley | 12/03/26 | ZAR | 1,450 | USD | 84 | 1 | |||||||||
| Morgan Stanley | 12/03/26 | ZAR | 31,160 | USD | 1,774 | (10 | ) | ||||||||
| Nomura Securities | 06/17/26 | USD | 370 | INR | 35,200 | (1 | ) | ||||||||
| RBC | 06/17/26 | PEN | 978 | USD | 285 | 6 | |||||||||
| SCB Securities | 04/02/26 | PLN | 420 | EUR | 98 | 1 | |||||||||
| SCB Securities | 04/02/26 | RON | 774 | USD | 179 | 4 | |||||||||
| SCB Securities | 04/02/26 | EUR | 775 | PLN | 3,275 | (15 | ) | ||||||||
| SCB Securities | 04/02/26 | CZK | 1,550 | EUR | 64 | 1 | |||||||||
| SCB Securities | 04/02/26 | USD | 1,706 | INR | 155,741 | (64 | ) | ||||||||
| SCB Securities | 04/02/26 | RON | 3,105 | EUR | 607 | (2 | ) | ||||||||
| SCB Securities | 04/02/26 | USD | 8,591 | CZK | 176,215 | (326 | ) | ||||||||
| SCB Securities | 04/02/26 | USD | 13,720 | PLN | 49,021 | (571 | ) | ||||||||
| SCB Securities | 04/24/26 | USD | 5,011 | INR | 471,500 | (31 | ) | ||||||||
| SCB Securities | 04/24/26 | INR | 355,885 | USD | 3,781 | 22 | |||||||||
| SCB Securities | 05/05/26 | USD | 404 | RON | 1,792 | – | |||||||||
| SCB Securities | 05/05/26 | EUR | 431 | PLN | 1,855 | – | |||||||||
| SCB Securities | 05/05/26 | CZK | 1,550 | EUR | 63 | – | |||||||||
| SCB Securities | 05/05/26 | RON | 2,235 | EUR | 437 | – | |||||||||
| SCB Securities | 05/05/26 | EUR | 3,448 | HUF | 1,338,900 | 8 | |||||||||
| SCB Securities | 05/05/26 | USD | 8,268 | CZK | 176,215 | 3 | |||||||||
| 60 | SEI Institutional International Trust |
| Counterparty | Settlement Date | Currency to Deliver (Thousands) | Currency to Receive (Thousands) | Unrealized Appreciation (Depreciation) (Thousands) |
|||||||||||
| SCB Securities | 05/05/26 | USD | 13,578 | PLN | 50,621 | $ | 3 | ||||||||
| SCB Securities | 05/11/26 | RSD | 48,330 | EUR | 410 | (1 | ) | ||||||||
| SCB Securities | 05/11/26 | NGN | 1,466,890 | USD | 1,032 | (11 | ) | ||||||||
| SCB Securities | 06/03/26 | USD | 411 | AZN | 725 | 15 | |||||||||
| SCB Securities | 06/10/26 | USD | 1,038 | TRY | 50,772 | 15 | |||||||||
| SCB Securities | 06/17/26 | USD | 1,149 | COP | 4,344,111 | 19 | |||||||||
| SCB Securities | 06/17/26 | USD | 1,902 | ZAR | 32,400 | (20 | ) | ||||||||
| SCB Securities | 06/17/26 | USD | 5,294 | EUR | 4,590 | 13 | |||||||||
| SCB Securities | 06/17/26 | USD | 66 | EUR | 57 | – | |||||||||
| SCB Securities | 06/17/26 | ZAR | 8,202 | USD | 492 | 16 | |||||||||
| SCB Securities | 06/17/26 | EUR | 57 | USD | 66 | – | |||||||||
| SCB Securities | 06/17/26 | EUR | 8,827 | USD | 10,182 | (24 | ) | ||||||||
| SCB Securities | 06/17/26 | PEN | 20,941 | USD | 6,093 | 113 | |||||||||
| SCB Securities | 06/17/26 | INR | 471,500 | USD | 4,985 | 43 | |||||||||
| SCB Securities | 08/10/26 | USD | 119 | BDT | 15,180 | 5 | |||||||||
| SCB Securities | 12/03/26 | USD | 402 | ZAR | 6,600 | (24 | ) | ||||||||
| SCB Securities | 12/03/26 | ZAR | 4,200 | USD | 254 | 13 | |||||||||
| SCB Securities | 01/12/27 | EGP | 23,800 | USD | 442 | 60 | |||||||||
| SCB Securities | 01/28/27 | USD | 364 | KES | 49,280 | 6 | |||||||||
| SCB Securities | 01/28/27 | KES | 25,580 | USD | 182 | (10 | ) | ||||||||
| SCB Securities | 01/29/27 | USD | 182 | KES | 24,640 | 3 | |||||||||
| Societe Generale | 04/02/26 | EUR | 170 | RON | 870 | – | |||||||||
| Societe Generale | 04/02/26 | HUF | 583,000 | EUR | 1,491 | (21 | ) | ||||||||
| Societe Generale | 04/30/26 | USD | 979 | KZT | 551,020 | 165 | |||||||||
| Societe Generale | 04/30/26 | KZT | 450,850 | USD | 864 | (72 | ) | ||||||||
| Societe Generale | 05/05/26 | USD | 18,245 | BRL | 96,082 | 31 | |||||||||
| Societe Generale | 05/08/26 | USD | 1,080 | KZT | 603,033 | 169 | |||||||||
| Societe Generale | 06/05/26 | RON | 3,835 | EUR | 743 | (5 | ) | ||||||||
| Societe Generale | 06/17/26 | USD | 2,605 | THB | 83,880 | (45 | ) | ||||||||
| Societe Generale | 06/17/26 | PEN | 6,783 | USD | 1,970 | 33 | |||||||||
| Societe Generale | 07/14/26 | EGP | 44,100 | USD | 873 | 115 | |||||||||
| Societe Generale | 11/12/26 | USD | 998 | KZT | 588,468 | 150 | |||||||||
| Societe Generale | 01/12/27 | EGP | 34,600 | USD | 644 | 89 | |||||||||
| Standard Bank | 04/02/26 | BRL | 3,040 | USD | 587 | 5 | |||||||||
| Standard Bank | 04/08/26 | USD | 353 | BRL | 1,852 | 1 | |||||||||
| Standard Bank | 05/04/26 | BRL | 2,051 | USD | 389 | (2 | ) | ||||||||
| Standard Bank | 05/08/26 | INR | 8,544 | USD | 95 | 5 | |||||||||
| Standard Bank | 06/17/26 | USD | 104 | INR | 9,848 | (1 | ) | ||||||||
| Standard Bank | 06/17/26 | USD | 234 | CZK | 4,956 | (1 | ) | ||||||||
| Standard Bank | 06/17/26 | PEN | 373 | USD | 107 | 1 | |||||||||
| Standard Bank | 06/17/26 | PEN | 1,827 | USD | 521 | (1 | ) | ||||||||
| Standard Bank | 06/17/26 | USD | 4,283 | CNY | 29,379 | (8 | ) | ||||||||
| Standard Bank | 06/17/26 | USD | 6,139 | THB | 195,683 | (166 | ) | ||||||||
| Standard Bank | 06/17/26 | EGP | 21,755 | USD | 378 | – | |||||||||
| Standard Bank | 06/17/26 | EGP | 21,773 | USD | 378 | – | |||||||||
| Standard Bank | 06/17/26 | INR | 164,135 | USD | 1,733 | 12 | |||||||||
| Standard Bank | 06/17/26 | PHP | 352,679 | USD | 5,911 | 128 | |||||||||
| Standard Bank | 06/18/26 | USD | 2,815 | MYR | 11,145 | (54 | ) | ||||||||
| Standard Bank | 06/18/26 | MYR | 6,928 | USD | 1,751 | 34 | |||||||||
| TD Securities | 04/02/26 | EUR | 3,517 | HUF | 1,330,000 | (84 | ) | ||||||||
| SEI Institutional International Trust | 61 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
Emerging Markets Debt Fund (Continued)
| Counterparty | Settlement Date | Currency to Deliver (Thousands) | Currency to Receive (Thousands) | Unrealized Appreciation (Depreciation) (Thousands) |
|||||||||||
| TD Securities | 06/05/26 | RON | 3,666 | EUR | 711 | $ | (4 | ) | |||||||
| UBS | 04/02/26 | BRL | 2,500 | USD | 480 | 1 | |||||||||
| UBS | 04/02/26 | USD | 175 | BRL | 925 | 2 | |||||||||
| UBS | 04/02/26 | USD | 2,882 | BRL | 14,966 | (16 | ) | ||||||||
| UBS | 04/24/26 | INR | 37,409 | USD | 397 | 2 | |||||||||
| UBS | 05/05/26 | USD | 1,565 | BRL | 8,245 | 3 | |||||||||
| UBS | 06/17/26 | USD | 267 | PEN | 925 | (2 | ) | ||||||||
| UBS | 06/17/26 | USD | 1,315 | MXN | 23,750 | (8 | ) | ||||||||
| UBS | 06/17/26 | MXN | 15,700 | USD | 861 | (3 | ) | ||||||||
| Wells Fargo | 04/02/26 | PLN | 1,000 | EUR | 234 | 2 | |||||||||
| Wells Fargo | 05/05/26 | HUF | 60,400 | USD | 180 | – | |||||||||
| Wells Fargo | 06/17/26 | USD | 141 | THB | 4,600 | – | |||||||||
| Wells Fargo | 12/03/26 | USD | 109 | ZAR | 1,800 | (6 | ) | ||||||||
| $ | 1,323 | ||||||||||||||
A list of the open OTC swap agreements held by the Fund at March 31, 2026, is as follows:
| Credit Default Swaps | ||||||||||||||||||||||||||||
| Counterparty | Reference Entity/ Obligation | Buy/Sell Protection |
(Pays)/Receives Rate |
Payment Frequency |
Termination Date |
Notional Amount (Thousands) |
Value (Thousands) |
Upfront Payments/ Receipts (Thousands) |
Net Unrealized Appreciation (Depreciation) (Thousands) |
|||||||||||||||||||
| Morgan Stanley | COLOMBIA | Buy | 1.00 | % | Quarterly | 12/20/2026 | $ | 4,300 | $ | (5 | ) | $ | (4 | ) | $ | (1 | ) | |||||||||||
| Morgan Stanley | EGYPT | Buy | 1.00 | % | Quarterly | 12/20/2028 | 500 | 31 | 102 | (71 | ) | |||||||||||||||||
| Bank of America | ISRAEL | Buy | 1.00 | % | Quarterly | 12/20/2029 | 900 | (11 | ) | 14 | (25 | ) | ||||||||||||||||
| JPMorgan Chase | ISRAEL | Buy | 1.00 | % | Quarterly | 12/20/2029 | 300 | (3 | ) | 4 | (7 | ) | ||||||||||||||||
| Morgan Stanley | MEXICO | Buy | 1.00 | % | Quarterly | 12/20/2029 | 4,800 | (29 | ) | 29 | (58 | ) | ||||||||||||||||
| JPMorgan Chase | SOUTH AFRICA | Buy | 1.00 | % | Quarterly | 12/20/2026 | 3,300 | (8 | ) | (8 | ) | — | ||||||||||||||||
| Morgan Stanley | SOUTH AFRICA | Buy | 1.00 | % | Quarterly | 12/20/2026 | 5,000 | 6 | 6 | — | ||||||||||||||||||
| Morgan Stanley | SOUTH AFRICA | Buy | 1.00 | % | Quarterly | 12/20/2030 | 2,300 | 83 | 83 | — | ||||||||||||||||||
| $ | 64 | $ | 226 | $ | (162 | ) | ||||||||||||||||||||||
| Total Return Swaps | ||||||||||||||||||||||||||||||
| Counterparty | Reference
Entity/ Obligation |
Fund Pays | Fund Receives | Payment
Frequency |
Termination
Date |
Currency | Notional
Amount (Thousands) |
Value
(Thousands) |
Upfront
Payments/ Receipts (Thousands) |
Net
Unrealized Appreciation (Depreciation) (Thousands) |
||||||||||||||||||||
| JPMorgan Chase | JPEMXCUS | INDEX RETURN | SOFR - 15 BPS | Annually | 04/08/2026 | USD | 6,600 | $ | 206 | $ | – | $ | 206 | |||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFRRATE + 85BPS | ZAMBIA | Quarterly | 04/29/2026 | ZMW | 117 | 4 | – | 4 | ||||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFRRATE + 85BPS | ZAMBIA | Quarterly | 04/30/2026 | ZMW | 143 | 6 | – | 6 | ||||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFRRATE + 85BPS | ZAMBIA | Quarterly | 05/17/2026 | ZMW | 471 | 33 | – | 33 | ||||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFRRATE + 85BPS | ZAMBIA | Quarterly | 05/25/2026 | ZMW | 80 | 3 | – | 3 | ||||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFR | ZAMBIA | Quarterly | 05/27/2026 | ZMW | 126 | 17 | – | 17 | ||||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFRRATE + 85BPS | ZAMBIA | Quarterly | 05/27/2026 | ZMW | 158 | 21 | – | 21 | ||||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFRRATE + 85BPS | ZAMBIA | Quarterly | 05/28/2026 | ZMW | 234 | 16 | – | 16 | ||||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFRRATE + 85BPS | ZAMBIA | Quarterly | 05/29/2026 | ZMW | 177 | 10 | – | 10 | ||||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFRRATE + 85BPS | ZAMBIA | Quarterly | 06/03/2026 | ZMW | 81 | (8 | ) | – | (8 | ) | ||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFRRATE + 85BPS | ZAMBIA | Quarterly | 06/09/2026 | ZMW | 142 | 20 | – | 20 | ||||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFRRATE + 85BPS | ZAMBIA | Quarterly | 06/23/2026 | ZMW | 65 | 4 | – | 4 | ||||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFRRATE + 85BPS | ZAMBIA | Quarterly | 06/24/2026 | ZMW | 141 | 4 | – | 4 | ||||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFRRATE + 85BPS | ZAMBIA | Quarterly | 06/24/2026 | ZMW | 81 | 4 | – | 4 | ||||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFR | ZAMBIA | Quarterly | 06/27/2026 | ZMW | 418 | 81 | – | 81 | ||||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFR | ZAMBIA | Quarterly | 06/28/2026 | ZMW | 525 | 103 | – | 103 | ||||||||||||||||||||
| 62 | SEI Institutional International Trust |
| Total Return Swaps (continued) | ||||||||||||||||||||||||||||||
| Counterparty | Reference
Entity/ Obligation |
Fund Pays | Fund Receives | Payment
Frequency |
Termination
Date |
Currency | Notional
Amount (Thousands) |
Value
(Thousands) |
Upfront
Payments/ Receipts (Thousands) |
Net
Unrealized Appreciation (Depreciation) (Thousands) |
||||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFRRATE + 85BPS | ZAMBIA | Quarterly | 07/27/2026 | ZMW | 148 | $ | 6 | $ | – | $ | 6 | |||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFRRATE + 85BPS | ZAMBIA | Quarterly | 07/27/2026 | ZMW | 125 | 6 | – | 6 | ||||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFRRATE + 85BPS | ZAMBIA | Quarterly | 07/27/2026 | ZMW | 37 | 1 | – | 1 | ||||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFRRATE + 85BPS | ZAMBIA | Quarterly | 07/27/2026 | ZMW | 90 | 3 | – | 3 | ||||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFRRATE + 85BPS | ZAMBIA | Quarterly | 07/27/2026 | ZMW | 149 | 9 | – | 9 | ||||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFRRATE + 85BPS | ZAMBIA | Quarterly | 08/17/2026 | ZMW | 238 | (4 | ) | – | (4 | ) | ||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFRRATE + 85BPS | ZAMBIA | Quarterly | 08/24/2026 | ZMW | 270 | (7 | ) | – | (7 | ) | ||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFRRATE + 85BPS | ZAMBIA | Quarterly | 09/29/2026 | ZMW | 56 | – | – | – | ||||||||||||||||||||
| JPMorgan Chase | ZAMBIA | SOFRRATE + 85BPS | ZAMBIA | Quarterly | 09/30/2026 | ZMW | 133 | (6 | ) | – | (6 | ) | ||||||||||||||||||
| $ | 532 | $ | – | $ | 532 | |||||||||||||||||||||||||
A list of the open centrally cleared swap agreements held by the Fund at March 31, 2026, is as follows:
| Credit Default Swap | ||||||||||||||||||||||||||
| Reference Entity/ Obligation | Buy/Sell
Protection |
(Pays)/ Receives Rate |
Payment
Frequency |
Termination Date | Notional
Amount (Thousands) |
Value
(Thousands) |
Upfront
Payments/ Receipts (Thousands) |
Net
Unrealized Appreciation (Depreciation) (Thousands) |
||||||||||||||||||
| CDX.EM.44.V1 | Buy | 1.00 | % | Quarterly | 12/20/2030 | $ | 8,400 | $ | 168 | $ | 91 | $ | 77 | |||||||||||||
| Interest Rate Swaps | |||||||||||||||||||||||||||
| Fund Pays | Fund Receives | Payment Frequency |
Termination Date | Currency | Notional Amount (Thousands) |
Value (Thousands) |
Upfront Payments/ Receipts (Thousands) |
Net Unrealized
Appreciation (Depreciation) (Thousands) |
|||||||||||||||||||
| 1.40% | 1-DAY THOR | Quarterly | 12/17/2035 | THB | 82,000 | $ | 159 | $ | 1 | $ | 158 | ||||||||||||||||
| 6-MONTH EURIBOR | 2.8% | Annually | 12/17/2055 | EUR | 3,300 | 227 | 115 | 112 | |||||||||||||||||||
| 2.9% | 6-MONTH EURIBOR | Annually | 03/18/2036 | EUR | 6,300 | 92 | (12 | ) | 104 | ||||||||||||||||||
| 3.9% | 6-MONTH PRIBOR | Annually | 06/18/2035 | CZK | 15,000 | 33 | 2 | 31 | |||||||||||||||||||
| 1-DAY THOR | 1.718% | Quarterly | 06/18/2030 | THB | 45,000 | 4 | – | 4 | |||||||||||||||||||
| 1-DAY MIBOR | 5.96% | Semi-Annually | 06/18/2030 | INR | 250,000 | (71 | ) | – | (71 | ) | |||||||||||||||||
| 8.87% | COOVIBR | Quarterly | 09/17/2035 | COP | 4,800,000 | 171 | – | 171 | |||||||||||||||||||
| 4.45% | 6-MONTH WIBOR | Annually | 09/17/2035 | PLN | 8,700 | 66 | 4 | 62 | |||||||||||||||||||
| CLICP | 4.712% | Semi-Annually | 09/17/2030 | CLP | 300,000 | (4 | ) | – | (4 | ) | |||||||||||||||||
| 5.165% | CLICP | Semi-Annually | 09/17/2035 | CLP | 1,200,000 | 9 | – | 9 | |||||||||||||||||||
| 6-MONTH HUF - BUBOR | 5.85% | Semi-Annually | 09/17/2028 | HUF | 600,000 | (53 | ) | (5 | ) | (48 | ) | ||||||||||||||||
| 6-MONTH HUF - BUBOR | 6.05% | Semi-Annually | 09/17/2030 | HUF | 800,000 | (98 | ) | (6 | ) | (92 | ) | ||||||||||||||||
| 6-MONTH HUF - BUBOR | 5.885% | Semi-Annually | 09/17/2028 | HUF | 1,300,000 | (111 | ) | – | (111 | ) | |||||||||||||||||
| 9.55% | COOVIBR | Quarterly | 09/17/2035 | COP | 2,300,000 | 58 | – | 58 | |||||||||||||||||||
| BZDIOVRA | 13.085% | Annually | 01/02/2029 | BRL | 60,866 | (184 | ) | – | (184 | ) | |||||||||||||||||
| 3.7% | 6-MONTH WIBOR | Annually | 03/18/2028 | PLN | 25,700 | 89 | – | 89 | |||||||||||||||||||
| MXIBTIEF | 7.745% | Monthly | 03/12/2031 | MXN | 100,000 | (91 | ) | – | (91 | ) | |||||||||||||||||
| 4.1507% | SOFR | Annually | 12/26/2055 | USD | 1,300 | (8 | ) | – | (8 | ) | |||||||||||||||||
| COOVIBR | 10.56% | Quarterly | 01/08/2029 | COP | 12,700,000 | (113 | ) | – | (113 | ) | |||||||||||||||||
| MXIBTIEF | 7.4% | Monthly | 03/14/2029 | MXN | 25,000 | (17 | ) | – | (17 | ) | |||||||||||||||||
| MXIBTIEF | 7.665% | Monthly | 03/12/2031 | MXN | 7,200 | (8 | ) | – | (8 | ) | |||||||||||||||||
| BZDIOVRA | 12.8575% | Annually | 01/03/2028 | BRL | 27,322 | (77 | ) | – | (77 | ) | |||||||||||||||||
| BZDIOVRA | 12.85% | Annually | 01/03/2028 | BRL | 49,233 | (139 | ) | – | (139 | ) | |||||||||||||||||
| MXIBTIEF | 7.45% | Monthly | 03/13/2030 | MXN | 70,700 | (78 | ) | – | (78 | ) | |||||||||||||||||
| COOVIBR | 11.05% | Quarterly | 03/18/2031 | COP | 11,000,000 | (52 | ) | – | (52 | ) | |||||||||||||||||
| 4.0225% | 6-MONTH CZK - PRIBOR | Annually | 03/18/2036 | CZK | 22,000 | 42 | – | 42 | |||||||||||||||||||
| 0.97% | COOVIBR | Quarterly | 03/18/2036 | COP | 2,900,000 | 6 | – | 6 | |||||||||||||||||||
| China 7-Day Reverse Repo Rate | 1.555% | Quarterly | 03/18/2031 | CNY | 19,000 | (6 | ) | – | (6 | ) | |||||||||||||||||
| BZDIOVRA | 12.59% | Annually | 01/03/2028 | BRL | 523 | (2 | ) | – | (2 | ) | |||||||||||||||||
| 6-MONTH CZK - PRIBOR | 3.651% | Semi-Annually | 03/18/2028 | CZK | 100,000 | (46 | ) | – | (46 | ) | |||||||||||||||||
| SEI Institutional International Trust | 63 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2026
Emerging Markets Debt Fund (Concluded)
| Fund Pays | Fund Receives | Payment Frequency |
Termination Date | Currency | Notional Amount (Thousands) |
Value (Thousands) |
Upfront Payments/ Receipts (Thousands) |
Net Unrealized
Appreciation (Depreciation) (Thousands) |
|||||||||||||||||||
| MXIBTIEF | 7.11% | Monthly | 03/14/2029 | MXN | 64,000 | $ | (71 | ) | $ | – | $ | (71 | ) | ||||||||||||||
| BZDIOVRA | 12.925% | Annually | 01/03/2028 | BRL | 33,675 | (86 | ) | – | (86 | ) | |||||||||||||||||
| 6-MONTH CZK - PRIBOR | 4.09% | Semi-Annually | 06/17/2031 | CZK | 40,500 | (28 | ) | – | (28 | ) | |||||||||||||||||
| 6-MONTH HUF - BUBOR | 6.57% | Semi-Annually | 06/17/2029 | HUF | 424,000 | (22 | ) | – | (22 | ) | |||||||||||||||||
| 6-MONTH CZK - PRIBOR | 4.215% | Semi-Annually | 06/17/2031 | CZK | 40,000 | (17 | ) | – | (17 | ) | |||||||||||||||||
| 4.64% | CLICP | Semi-Annually | 06/17/2028 | CLP | 4,100,000 | 31 | – | 31 | |||||||||||||||||||
| 6-MONTH CZK - PRIBOR | 4.3625% | Semi-Annually | 06/17/2031 | CZK | 42,000 | (5 | ) | – | (5 | ) | |||||||||||||||||
| 6-MONTH HUF - BUBOR | 6.935% | Semi-Annually | 06/17/2028 | HUF | 820,500 | (15 | ) | – | (15 | ) | |||||||||||||||||
| 4.96% | CLICP | Semi-Annually | 06/17/2028 | CLP | 4,100,000 | 3 | – | 3 | |||||||||||||||||||
| 6-MONTH CZK - PRIBOR | 4.125% | Semi-Annually | 06/17/2029 | CZK | 54,800 | (17 | ) | – | (17 | ) | |||||||||||||||||
| 6-MONTH WIBOR | 4.265% | Semi-Annually | 06/17/2029 | PLN | 12,100 | (21 | ) | – | (21 | ) | |||||||||||||||||
| BZDIOVRA | 13.72% | Annually | 01/03/2028 | BRL | 27,437 | (4 | ) | – | (4 | ) | |||||||||||||||||
| BZDIOVRA | 14.01% | Annually | 01/03/2028 | BRL | 29,939 | 21 | – | 21 | |||||||||||||||||||
| 1-DAY MIBOR | 6.08% | Semi-Annually | 12/19/2029 | INR | 908,000 | (180 | ) | – | (180 | ) | |||||||||||||||||
| 6-MONTH PRIBOR | 3.6745% | Semi-Annually | 12/20/2034 | CZK | 87,730 | (249 | ) | (5 | ) | (244 | ) | ||||||||||||||||
| 6-MONTH WIBOR | 5.0295% | Semi-Annually | 12/20/2034 | PLN | 4,200 | 19 | – | 19 | |||||||||||||||||||
| 1-DAY MXIBTIEE | 8.89% | Monthly | 12/18/2026 | MXN | 473,064 | 375 | 19 | 356 | |||||||||||||||||||
| 1-DAY BRL - CETIP | 15.26% | Annually | 01/02/2029 | BRL | 18,400 | 169 | – | 169 | |||||||||||||||||||
| 1-DAY MXIBTIEE | 8.905% | Monthly | 12/18/2026 | MXN | 169,316 | 135 | – | 135 | |||||||||||||||||||
| 1-DAY THOR | 1.9045% | Quarterly | 12/20/2029 | THB | 110,700 | 44 | – | 44 | |||||||||||||||||||
| 1-DAY MIBOR | 6.0675% | Semi-Annually | 02/03/2030 | INR | 332,285 | (70 | ) | 14 | (84 | ) | |||||||||||||||||
| 1-DAY MIBOR | 6.04% | Semi-Annually | 02/04/2030 | INR | 336,920 | (75 | ) | (4 | ) | (71 | ) | ||||||||||||||||
| 1-DAY MXIBTIEE | 8.5235% | Monthly | 02/20/2035 | MXN | 164,170 | 54 | 263 | (209 | ) | ||||||||||||||||||
| 2.0195% | 1-DAY THOR | Quarterly | 03/21/2035 | THB | 37,270 | (1 | ) | (18 | ) | 17 | |||||||||||||||||
| 1-DAY MIBOR | 5.7645% | Semi-Annually | 04/09/2030 | INR | 213,700 | (71 | ) | 2 | (73 | ) | |||||||||||||||||
| 6-MONTH WIBOR | 4.0405% | Semi-Annually | 04/11/2030 | PLN | 6,843 | (32 | ) | – | (32 | ) | |||||||||||||||||
| 6-MONTH WIBOR | 4.325% | Semi-Annually | 04/15/2035 | PLN | 14,270 | (132 | ) | 21 | (153 | ) | |||||||||||||||||
| 1-DAY BRL - CETIP | 13.5403% | Annually | 01/02/2030 | BRL | 11,400 | (13 | ) | 11 | (24 | ) | |||||||||||||||||
| 3-MONTH JIBAR | 7.327% | Quarterly | 07/10/2030 | ZAR | 43,200 | (25 | ) | – | (25 | ) | |||||||||||||||||
| 1-DAY MIBOR | 5.701% | Semi-Annually | 07/11/2030 | INR | 422,300 | (166 | ) | 5 | (171 | ) | |||||||||||||||||
| 1-DAY BRL - CETIP | 13.4043% | Annually | 01/03/2028 | BRL | 16,600 | (21 | ) | – | (21 | ) | |||||||||||||||||
| 1-DAY BRL - CETIP | 13.28% | Annually | 01/03/2028 | BRL | 60,700 | (99 | ) | 2 | (101 | ) | |||||||||||||||||
| 7.1265% | 3-MONTH BA | Quarterly | 08/19/2030 | ZAR | 6,400 | 7 | – | 7 | |||||||||||||||||||
| 3-MONTH BA | 6.7705% | Quarterly | 10/21/2030 | ZAR | 147,750 | (287 | ) | (6 | ) | (281 | ) | ||||||||||||||||
| INR OVERNIGHT MIBOR | 5.6385% | Semi-Annually | 10/24/2030 | INR | 245,100 | (111 | ) | (19 | ) | (92 | ) | ||||||||||||||||
| INR OVERNIGHT MIBOR | 5.94% | Semi-Annually | 01/16/2031 | INR | 188,750 | (67 | ) | (20 | ) | (47 | ) | ||||||||||||||||
| 3-MONTH BA | 6.6795% | Quarterly | 01/20/2031 | ZAR | 39,800 | (92 | ) | 10 | (102 | ) | |||||||||||||||||
| 6-MONTH HUF - BUBOR | 6.08% | Semi-Annually | 01/22/2031 | HUF | 680,000 | (87 | ) | – | (87 | ) | |||||||||||||||||
| 6-MONTH HUF - BUBOR | 6.505% | Semi-Annually | 01/22/2036 | HUF | 380,000 | (49 | ) | – | (49 | ) | |||||||||||||||||
| 1-DAY THOR | 1.3875% | Quarterly | 02/23/2031 | THB | 33,550 | (16 | ) | 5 | (21 | ) | |||||||||||||||||
| 6.88% | 3-MONTH BA | Quarterly | 03/03/2031 | ZAR | 60,950 | 116 | 47 | 69 | |||||||||||||||||||
| 1.1% | 1-DAY TONAR | Annually | 09/18/2034 | JPY | 726,000 | 332 | (7 | ) | 339 | ||||||||||||||||||
| SOFR | 4.00% | Annually | 09/17/2035 | USD | 14,700 | 201 | 376 | (175 | ) | ||||||||||||||||||
| 4.6% | 1-DAY SONIA | Annually | 09/17/2055 | GBP | 2,500 | 105 | (10 | ) | 115 | ||||||||||||||||||
| 1-DAY BROIS | 13.3% | Annually | 01/02/2031 | BRL | 29,826 | (98 | ) | (1 | ) | (97 | ) | ||||||||||||||||
| $ | (817 | ) | $ | 784 | $ | (1,601 | ) | ||||||||||||||||||||
Percentages are based on Net Assets of $936,762 ($ Thousands).
| (A) | Security, or a portion thereof, exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration normally to qualified institutions. On March 31, 2026, the value of these securities amounted to $104,251 ($ Thousands), representing 11.1% of the Net Assets of the Fund. |
| (B) | Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. |
| (C) | Variable or floating rate security. The rate shown is the effective interest rate as of period end. The rates on certain securities are not based on published reference rates and spreads and are either determined by the issuer or agent based on current market conditions; by using a formula based on the rates of underlying loans; or by adjusting periodically based on prevailing interest rates. |
| (D) | No interest rate available. |
| (E) | Zero coupon security. |
| (F) | Interest rate represents the security's effective yield at the time of purchase. |
| (G) | Security is in default on interest payment. |
| (H) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
| 64 | SEI Institutional International Trust |
The following is a summary of the level of inputs used as of March 31, 2026, in valuing the Fund's investments and other financial instruments carried at value ($ Thousands):
| Level 1 | Level 2 | Level 3 | Total | |||||||||||||
| Investments in Securities | ($) | ($) | ($)(1) | ($) | ||||||||||||
| Global Bonds | – | 846,430 | 3,526 | 849,956 | ||||||||||||
| U.S. Treasury Obligations | – | 20,089 | – | 20,089 | ||||||||||||
| Loan Participations | – | 4,904 | 3,670 | 8,574 | ||||||||||||
| Purchased Options | 623 | – | – | 623 | ||||||||||||
| Total Investments in Securities | 623 | 871,423 | 7,196 | 879,242 | ||||||||||||
| Other Financial Instruments | Level 1 ($) |
Level 2 ($) |
Level 3 ($) |
Total ($) |
||||||||||||
| Written Options | (601 | ) | – | – | (601 | ) | ||||||||||
| Futures Contracts* | ||||||||||||||||
| Unrealized Appreciation | 140 | – | – | 140 | ||||||||||||
| Forward Contracts* | ||||||||||||||||
| Unrealized Appreciation | – | 7,568 | – | 7,568 | ||||||||||||
| Unrealized Depreciation | – | (6,245 | ) | – | (6,245 | ) | ||||||||||
| OTC Swaps | ||||||||||||||||
| Credit Default Swaps* | ||||||||||||||||
| Unrealized Appreciation | – | – | – | – | ||||||||||||
| Unrealized Depreciation | – | (162 | ) | – | (162 | ) | ||||||||||
| Total Return Swaps* | ||||||||||||||||
| Unrealized Appreciation | – | 557 | – | 557 | ||||||||||||
| Unrealized Depreciation | – | (25 | ) | – | (25 | ) | ||||||||||
| Centrally Cleared Swaps | ||||||||||||||||
| Credit Default Swaps* | ||||||||||||||||
| Unrealized Appreciation | – | 77 | – | 77 | ||||||||||||
| Interest Rate Swaps* | ||||||||||||||||
| Unrealized Appreciation | – | 2,171 | – | 2,171 | ||||||||||||
| Unrealized Depreciation | – | (3,772 | ) | – | (3,772 | ) | ||||||||||
| Total Other Financial Instruments | (461 | ) | 169 | – | (292 | ) | ||||||||||
| * | Futures contracts, forward contracts and swap contracts are valued at the unrealized appreciation (depreciation) on the instrument. |
(1) A reconciliation of Level 3 instruments is presented when the Fund has a significant amount of Level 3 investments at the end of the period in relation to the net assets. Management has concluded that Level 3 investments are not material in relation to net assets.
For more information on valuation inputs, see Note 2 – Significant Accounting Policies in Notes to Financial Statements.
Amounts designated as “—” are $0 or have been rounded to $0.
See “Glossary” for abbreviations.
The accompanying notes are an integral part of the financial statements.
| SEI Institutional International Trust | 65 |
Glossary: (abbreviations which may be used in the preceding Schedules of Investments)
Currency Abbreviations
AUD — Australian Dollar
BRL — Brazilian Real
CAD — Canadian Dollar
CLP — Chilean Peso
CNH — Chinese Yuan Offshore
CNY — Chinese Yuan Onshore
COP — Colombian Peso
CZK — Czech Koruna
DKK — Danish Krone
EUR — Euro
GHS — Ghanaian Cedi
HKD — Hong Kong Dollar
HUF — Hungarian Forint
IDR — Indonesian Rupiah
ILS — Israeli New Sheckels
INR — Indian Rupee
JPY — Japanese Yen
KRW — Korean Won
MXN — Mexican Peso
MYR — Malaysian Ringgit
NGN — Nigerian Naira
NOK — Norwegian Krone
NZD — New Zealand Dollar
PEN — Peruvian Nuevo Sol
PHP— Philippine Peso
PLN — Polish Zloty
RON — Romanian Leu
RSD — Dinar
RUB — Russian Ruble
SEK — Swedish Krona
SGD — Singapore Dollar
THB — Thai Baht
TRY — Turkish Lira
TWD — Taiwan Dollar
UAH — Ukrainian Hryvnia
UGX — Ugandan Shilling
USD — U.S. Dollar
UYU — Uruguayan Peso
VND — Vietnamese Dong
ZAR — South African Rand
Portfolio Abbreviations
ACES — Alternative Credit Enhancement Structure
ADR — American Depositary Receipt
AGC — Assured Guaranty Corporation
AGM— Assured Guaranty Municipal
ARM — Adjustable Rate Mortgage
BPSW5 — GBP Swap 5 Year
BROIS — Brazil Overnight Index Swap
BURBOR — Budapest Interbank Offered Rate
CETIP — Central Custody and Financial Settlement of Securities
CME — Chicago Mercantile Exchange
CDO — Collateralized Debt Obligation
CMTUSD6Y — Constant Maturity Treasury 6 Year
Cl — Class
CMO — Collateralized Mortgage Obligation
CPI — Consumer Price Index
DAC — Designated Activity Company
EUAMDBO1 — EURIBOR ICE Swap Rate 11:00am
EUAMDB05 — EURIBOR ICE Swap Rate 11:00am
ETF — Exchange-Traded Fund
EURIBOR — Euro London Interbank Offered Rate
EUR003M — EURIBOR 3 Month
EUSA1 — EUR Swap Annual 1 Year
EUSA5 — EUR Swap Annual 5 Year
EUSA6 — EUR Swap Annual 6 Year
EUSA9 — EUR Swap Annual 9 Year
EUSA12 — EUR Swap Annual 12 Year
FEDEF — U.S. Federal Funds Effective Rate
FFCB — Federal Farm Credit Bank
FHLB — Federal Home Loan Bank
FHLMC — Federal Home Loan Mortgage Corporation
FNMA — Federal National Mortgage Association
GNMA — Government National Mortgage Association
GO — General Obligation
GUKG1 — United Kingdom Government Bonds 1 Year Note Generic Bid Yield
GUKG5 — United Kingdom Government Bonds 5 Year Note Generic Bid Yield
H15T5Y — US Treasury Curve Rate T Note Constant Maturity 5 Year
H15T7Y — US Treasury Curve Rate T Note Constant Maturity 7 Year
IO — Interest Only — face amount represents notional amount
KWCDC — South Korean Won 3 Month Certificate of Deposit
JIBAR — Johannesburg Interbank Average Rate
JSC — Joint-Stock Company
LIBOR— London Interbank Offered Rate
LLLP — Limited Liability Limited Partnership
L.P. — Limited Partnership
MTN — Medium Term Note
MIBOR — Mumbai Interbank Offered Rate
MXN TIIE — Mexican Interbank TIIE 28-Day
NIBOR — Norwegian Interbank Offered Rate
NVDR — Non-voting Depository Receipt
OIS — Overnight Index Swap
OTC — Over The Counter
PIK — Payment-in-Kind
PO — Principal Only
PRIBOR — Prague Interbank Offered Rate
RB — Revenue Bond
REIT — Real Estate Investment Trust
REMIC — Real Estate Mortgage Investment Conduit
Re-REMIC — Resecuritization of Real Estate Mortgage Investment Conduit
Ser — Series
SOFR — Secured Overnight Financing Rate
| 66 | SEI Institutional International Trust |
SOFRRATE — U.S. SOFR
SOFR30A — Secured Overnight Financing Rate 30-day Average
SOFRINDX — Custom SOFR Index
SONIA — Sterling Overnight Index Average
SONIO/N — SONIA Interest Rate Benchmark
SPDR — Standard & Poor's Depository Receipt
STACR — Structured Agency Credit Risk
TBA — To Be Announced
THOR — Thai Overnight Repurchase Rate
TONAR — Japan Tokyo Overnight Average Rate
TSFR3M— CME Term SOFR 3 Month
TELBOR — Tel Aviv Interbank Offered Rate
US0003M— ICE LIBOR USD 3 Month
USSW5— USD Swap Semi 30/360 5 Year Currency
WIBOR— Warsaw Interbank Offered Rate
| SEI Institutional International Trust | 67 |
STATEMENTS OF ASSETS AND LIABILITIES (Unaudited) ($ Thousands)
March 31, 2026
| International Equity Fund |
Emerging Markets Equity Fund |
International Fixed Income Fund |
Emerging Markets Debt Fund |
|||||||||||||
| Assets: | ||||||||||||||||
| Investments, at value † | $ | 3,375,958 | $ | 1,505,633 | $ | 354,511 | $ | 879,242 | ||||||||
| Affiliated investments, at value †† | 26,019 | 18,558 | – | – | ||||||||||||
| Cash | 31,143 | 16,247 | 11,736 | 30,584 | ||||||||||||
| Cash pledged as collateral for futures contracts | 1,981 | 907 | 1,244 | 116 | ||||||||||||
| Cash pledged as collateral on centrally cleared swap contracts | – | – | 3,315 | 6,808 | ||||||||||||
| Cash pledged as collateral on OTC swap contracts | – | – | – | – | ||||||||||||
| Foreign currency, at value ††† | 5,480 | 4,871 | 14,819 | 4,645 | ||||||||||||
| Receivable for fund shares sold | 451 | 283 | 266 | 373 | ||||||||||||
| Receivable for investment securities sold | 2,133 | 744 | 1,055 | 6,041 | ||||||||||||
| Dividends and interest receivable | 11,747 | 4,821 | 3,603 | 16,585 | ||||||||||||
| Unrealized gain on forward foreign currency contracts | – | – | 7,667 | 7,568 | ||||||||||||
| Unrealized gain on foreign spot currency contracts | 7 | – | – | 40 | ||||||||||||
| OTC Swap contracts, at value †††† | – | – | 11 | 11,286 | ||||||||||||
| Foreign tax reclaim receivable | 24,293 | 288 | – | – | ||||||||||||
| Receivable for variation margin | 133 | 765 | 455 | 5,767 | ||||||||||||
| Prepaid expenses | 51 | 22 | 5 | 13 | ||||||||||||
| Total Assets | 3,479,396 | 1,553,139 | 398,687 | 969,068 | ||||||||||||
| Liabilities: | ||||||||||||||||
| Payable for investment securities purchased | 67 | 3,553 | 6,387 | 8,000 | ||||||||||||
| Payable for fund shares redeemed | 2,598 | 2,411 | 248 | 497 | ||||||||||||
| OTC Swap contracts, at value †††† | 1,768 | – | 123 | 10,692 | ||||||||||||
| Options written, at value ††††† | – | – | – | 601 | ||||||||||||
| Payable for variation margin | 109 | – | 475 | 5,211 | ||||||||||||
| Administration fees payable | 836 | 219 | 119 | 263 | ||||||||||||
| Unrealized loss on foreign currency spot contracts | 5 | 1 | 2 | 92 | ||||||||||||
| Unrealized loss on forward foreign currency contracts | – | – | 2,601 | 6,245 | ||||||||||||
| Trustees fees payable | 7 | 197 | 3 | 81 | ||||||||||||
| Chief compliance officer fees payable | 14 | 6 | 1 | 4 | ||||||||||||
| Administrative servicing fees payable | 4 | – | – | – | ||||||||||||
| Shareholder servicing fees payable | 660 | 305 | 74 | 182 | ||||||||||||
| Investment advisory fees payable | 1,516 | 950 | 99 | 299 | ||||||||||||
| Accrued expense payable | 624 | 211 | 103 | 139 | ||||||||||||
| Accrued foreign capital gains tax on appreciated securities | – | 1,538 | – | – | ||||||||||||
| Total Liabilities | 8,208 | 9,391 | 10,235 | 32,306 | ||||||||||||
| Net Assets | $ | 3,471,188 | $ | 1,543,748 | $ | 388,452 | $ | 936,762 | ||||||||
| † Cost of investments | $ | 2,731,780 | $ | 1,087,485 | $ | 375,334 | $ | 863,399 | ||||||||
| †† Cost of affiliated investments | 26,019 | 18,558 | – | – | ||||||||||||
| ††† Cost of foreign currency | 5,489 | 4,639 | 14,785 | 4,142 | ||||||||||||
| †††† Cost (premiums received) | – | – | 11 | 226 | ||||||||||||
| ††††† Premiums received from written options | – | – | – | 608 | ||||||||||||
Amounts designated as “—” are $0 or have been rounded to $0.
The accompanying notes are an integral part of the financial statements.
| 68 | SEI Institutional International Trust |
STATEMENTS OF ASSETS AND LIABILITIES (Unaudited) ($ Thousands) (Concluded)
March 31, 2026
| International Equity Fund |
Emerging Markets Equity Fund |
International Fixed Income Fund |
Emerging Markets Debt Fund |
|||||||||||||
| Net Assets: | ||||||||||||||||
| Paid-in Capital — (unlimited authorization — no par value) | $ | 2,486,127 | $ | 1,073,701 | $ | 452,276 | $ | 1,179,282 | ||||||||
| Total distributable earnings/(loss) | 985,061 | 470,047 | (63,824 | ) | (242,520 | ) | ||||||||||
| Net Assets | $ | 3,471,188 | $ | 1,543,748 | $ | 388,452 | $ | 936,762 | ||||||||
| Net Asset Value, Offering and Redemption Price Per Share — Class F | $ | 13.17 | $ | 14.60 | $ | 8.85 | $ | 9.39 | ||||||||
| ($3,064,240,559 ÷ | ($1,388,469,549 ÷ | ($348,855,169 ÷ | ($842,678,902 ÷ | |||||||||||||
| 232,638,508 shares) | 95,115,800 shares) | 39,416,846 shares) | 89,780,738 shares) | |||||||||||||
| Net Asset Value, Offering and Redemption Price Per Share — Class I | $ | 13.31 | N/A | N/A | N/A | |||||||||||
| ($393,525 ÷ | ||||||||||||||||
| 29,569 shares) | ||||||||||||||||
| Net Asset Value, Offering and Redemption Price Per Share — Class Y | $ | 13.16 | $ | 14.59 | $ | 8.92 | $ | 9.30 | ||||||||
| ($406,554,230 ÷ | ($155,278,464 ÷ | ($39,597,293 ÷ | ($94,082,716 ÷ | |||||||||||||
| 30,899,779 shares) | 10,641,280 shares) | 4,437,575 shares) | 10,118,324 shares) | |||||||||||||
N/A — Not applicable. Share classes currently not offered.
The accompanying notes are an integral part of the financial statements.
| SEI Institutional International Trust | 69 |
STATEMENTS OF OPERATIONS (Unaudited) ($ Thousands)
For the six months ended March 31, 2026
| International Equity Fund |
Emerging Markets Equity Fund |
International Fixed Income Fund |
Emerging Markets Debt Fund |
|||||||||||||
| Investment Income: | ||||||||||||||||
| Dividends | $ | 40,909 | $ | 16,771 | $ | – | $ | – | ||||||||
| Income from affiliated investments(1) | 643 | 258 | – | – | ||||||||||||
| Interest income | 2,408 | 228 | 6,583 | 36,419 | ||||||||||||
| Less: foreign taxes withheld | (6,847 | ) | (2,312 | ) | (81 | ) | (221 | ) | ||||||||
| Total Investment Income | 37,113 | 14,945 | 6,502 | 36,198 | ||||||||||||
| Expenses: | ||||||||||||||||
| Investment advisory fees | 9,211 | 5,636 | 574 | 2,864 | ||||||||||||
| Administration fees | 5,630 | 3,037 | 727 | 1,814 | ||||||||||||
| Shareholder servicing fees — Class F | 4,042 | 1,817 | 427 | 1,077 | ||||||||||||
| Shareholder servicing fees — Class I | 1 | – | – | – | ||||||||||||
| Administrative servicing fees — Class I | 1 | – | – | – | ||||||||||||
| Printing fees | 241 | 107 | 25 | 63 | ||||||||||||
| Custodian/wire agent fees | 192 | 435 | 48 | 179 | ||||||||||||
| Professional fees | 94 | 42 | 9 | 24 | ||||||||||||
| Trustees' fees | 52 | 23 | 5 | 14 | ||||||||||||
| Registration fees | 51 | 21 | 5 | 13 | ||||||||||||
| Chief compliance officer fees | 14 | 6 | 1 | 4 | ||||||||||||
| Proxy fees | 7 | 3 | – | 2 | ||||||||||||
| Other expenses | 144 | 63 | 42 | 72 | ||||||||||||
| Total Expenses | 19,680 | 11,190 | 1,863 | 6,126 | ||||||||||||
| Less: | ||||||||||||||||
| Waiver of investment advisory fees | – | – | – | (1,097 | ) | |||||||||||
| Waiver of administration fees | (586 | ) | (1,695 | ) | (74 | ) | (258 | ) | ||||||||
| Waiver of shareholder servicing fees — Class F | (32 | ) | – | – | – | |||||||||||
| Net Expenses | 19,062 | 9,495 | 1,789 | 4,771 | ||||||||||||
| Net Investment Income | 18,051 | 5,450 | 4,713 | 31,427 | ||||||||||||
| Net Realized Gain (Loss) on: | ||||||||||||||||
| Investments | 372,179 | 140,169 | 7,292 | 23,380 | ||||||||||||
| Written options | – | – | – | 615 | ||||||||||||
| Futures contracts | 4,382 | 2,351 | (735 | ) | (72 | ) | ||||||||||
| Swap contracts | 21,082 | – | 87 | 1,011 | ||||||||||||
| Purchased options and swaptions | – | – | – | 847 | ||||||||||||
| Capital gains tax | – | (4 | ) | – | – | |||||||||||
| Foreign currency transactions | (837 | ) | (794 | ) | (6,551 | ) | (2,769 | ) | ||||||||
| Forward foreign currency contracts | – | – | 4,815 | 1,310 | ||||||||||||
| Net Realized Gain (Loss) | 396,806 | 141,722 | 4,908 | 24,322 | ||||||||||||
| Net Change in Unrealized Appreciation (Depreciation) on: | ||||||||||||||||
| Investments | (148,354 | ) | (7,541 | ) | (17,310 | ) | (23,650 | ) | ||||||||
| Written options | – | – | – | (349 | ) | |||||||||||
| Futures contracts | (1,384 | ) | (680 | ) | 383 | 159 | ||||||||||
| Purchased options and swaptions | – | – | 27 | (311 | ) | |||||||||||
| Swap contracts | 188 | – | (627 | ) | (3,718 | ) | ||||||||||
| Foreign capital gains tax on appreciated securities | – | 972 | – | – | ||||||||||||
| Foreign currency translation of other assets and liabilities denominated in foreign currencies | (923 | ) | (169 | ) | (69 | ) | 38 | |||||||||
| Forward foreign currency contracts | – | – | 4,811 | 1,743 | ||||||||||||
| Net Change in Unrealized Appreciation (Depreciation) | (150,473 | ) | (7,418 | ) | (12,785 | ) | (26,088 | ) | ||||||||
| Net Increase (Decrease) in Net Assets Resulting from Operations | $ | 264,384 | $ | 139,754 | $ | (3,164 | ) | $ | 29,661 | |||||||
(1) See Note 5 in the Notes to Financial Statements for additional information.
Amounts designated as “—” are $0 or have been rounded to $0.
The accompanying notes are an integral part of the financial statements.
| 70 | SEI Institutional International Trust |
STATEMENTS OF CHANGES IN NET ASSETS ($ Thousands)
For the six months ended March 31, 2026 (Unaudited) and the year ended September 30, 2025
| International Equity Fund | Emerging Markets Equity Fund | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Operations: | ||||||||||||||||
| Net investment income | $ | 18,051 | $ | 73,923 | $ | 5,450 | $ | 26,442 | ||||||||
| Net realized gain (loss) | 396,806 | 527,983 | 141,722 | 107,257 | ||||||||||||
| Net change in unrealized appreciation (depreciation) | (150,473 | ) | 42,549 | (7,418 | ) | 118,695 | ||||||||||
| Net Increase in Net Assets Resulting from Operations | 264,384 | 644,455 | 139,754 | 252,394 | ||||||||||||
| Distributions: | ||||||||||||||||
| Class F | (484,863 | ) | (329,631 | ) | (59,441 | ) | (39,228 | ) | ||||||||
| Class I | (58 | ) | (93 | ) | N/A | N/A | ||||||||||
| Class Y | (62,762 | ) | (37,136 | ) | (6,748 | ) | (4,098 | ) | ||||||||
| Total Dividends | (547,683 | ) | (366,860 | ) | (66,189 | ) | (43,326 | ) | ||||||||
| Capital Share Transactions: | ||||||||||||||||
| Class F: | ||||||||||||||||
| Proceeds from shares issued | 87,952 | 297,120 | 41,225 | 259,967 | ||||||||||||
| Reinvestment of dividends & distributions | 437,257 | 299,665 | 53,755 | 35,742 | ||||||||||||
| Cost of shares redeemed | (480,813 | ) | (1,250,360 | ) | (216,895 | ) | (501,502 | ) | ||||||||
| Net Increase (Decrease) from Class F Transactions | 44,396 | (653,575 | ) | (121,915 | ) | (205,793 | ) | |||||||||
| Class I: | ||||||||||||||||
| Proceeds from shares issued | 10 | 17 | N/A | N/A | ||||||||||||
| Reinvestment of dividends & distributions | 16 | 56 | N/A | N/A | ||||||||||||
| Cost of shares redeemed | (567 | ) | (156 | ) | N/A | N/A | ||||||||||
| Net Decrease from Class I Transactions | (541 | ) | (83 | ) | N/A | N/A | ||||||||||
| Class Y: | ||||||||||||||||
| Proceeds from shares issued | 26,112 | 63,637 | 9,177 | 24,805 | ||||||||||||
| Reinvestment of dividends & distributions | 54,291 | 33,685 | 5,802 | 3,747 | ||||||||||||
| Cost of shares redeemed | (55,378 | ) | (134,270 | ) | (18,321 | ) | (46,156 | ) | ||||||||
| Net Increase (Decrease) from Class Y Transactions | 25,025 | (36,948 | ) | (3,342 | ) | (17,604 | ) | |||||||||
| Net Increase (Decrease) in Net Assets Derived from Capital Share Transactions | 68,880 | (690,606 | ) | (125,257 | ) | (223,397 | ) | |||||||||
| Net Decrease in Net Assets | (214,419 | ) | (413,011 | ) | (51,692 | ) | (14,329 | ) | ||||||||
| Net Assets: | ||||||||||||||||
| Beginning of Period | 3,685,607 | 4,098,618 | 1,595,440 | 1,609,769 | ||||||||||||
| End of Period | $ | 3,471,188 | $ | 3,685,607 | $ | 1,543,748 | $ | 1,595,440 | ||||||||
| Capital Share Transactions: | ||||||||||||||||
| Class F: | ||||||||||||||||
| Shares issued | 6,330 | 23,573 | 2,800 | 22,132 | ||||||||||||
| Reinvestment of distributions | 33,328 | 26,065 | 3,818 | 3,273 | ||||||||||||
| Shares redeemed | (34,559 | ) | (98,205 | ) | (14,669 | ) | (42,171 | ) | ||||||||
| Total Class F Transactions | 5,099 | (48,567 | ) | (8,051 | ) | (16,766 | ) | |||||||||
| Class I: | ||||||||||||||||
| Shares issued | 1 | 1 | N/A | N/A | ||||||||||||
| Reinvestment of distributions | 1 | 5 | N/A | N/A | ||||||||||||
| Shares redeemed | (39 | ) | (11 | ) | N/A | N/A | ||||||||||
| Total Class I Transactions | (37 | ) | (5 | ) | N/A | N/A | ||||||||||
| Class Y: | ||||||||||||||||
| Shares issued | 1,879 | 5,210 | 615 | 2,087 | ||||||||||||
| Reinvestment of distributions | 4,138 | 2,933 | 412 | 343 | ||||||||||||
| Shares redeemed | (3,985 | ) | (10,529 | ) | (1,247 | ) | (3,860 | ) | ||||||||
| Total Class Y Transactions | 2,032 | (2,386 | ) | (220 | ) | (1,430 | ) | |||||||||
| Net Increase (Decrease) in Shares Outstanding from Share Transactions | 7,094 | (50,958 | ) | (8,271 | ) | (18,196 | ) | |||||||||
N/A — Not applicable. Share classes currently not offered.
The accompanying notes are an integral part of the financial statements.
| SEI Institutional International Trust | 71 |
STATEMENTS OF CHANGES IN NET ASSETS ($ Thousands) (Concluded)
For the six months ended March 31, 2026 (Unaudited) and the year ended September 30, 2025
| International Fixed Income Fund | Emerging Markets Debt Fund | |||||||||||||||
| 2026 | 2025 | 2026 | 2025 | |||||||||||||
| Operations: | ||||||||||||||||
| Net investment income | $ | 4,713 | $ | 9,182 | $ | 31,427 | $ | 64,137 | ||||||||
| Net realized gain (loss) | 4,908 | (8,374 | ) | 24,322 | (12,321 | ) | ||||||||||
| Net change in unrealized appreciation (depreciation) | (12,785 | ) | 6,914 | (26,088 | ) | 29,037 | ||||||||||
| Net Increase (Decrease) in Net Assets Resulting from Operations | (3,164 | ) | 7,722 | 29,661 | 80,853 | |||||||||||
| Distributions: | ||||||||||||||||
| Class F | (9,242 | ) | – | (26,191 | ) | (56,929 | ) | |||||||||
| Class Y | (1,234 | ) | – | (2,926 | ) | (6,010 | ) | |||||||||
| Total Dividends | (10,476 | ) | – | (29,117 | ) | (62,939 | ) | |||||||||
| Capital Share Transactions: | ||||||||||||||||
| Class F: | ||||||||||||||||
| Proceeds from shares issued | 42,688 | 56,033 | 51,813 | 77,140 | ||||||||||||
| Reinvestment of dividends & distributions | 8,577 | N/A | 23,322 | 50,563 | ||||||||||||
| Cost of shares redeemed | (25,214 | ) | (112,978 | ) | (85,663 | ) | (285,471 | ) | ||||||||
| Net Increase (Decrease) from Class F Transactions | 26,051 | (56,945 | ) | (10,528 | ) | (157,768 | ) | |||||||||
| Class Y: | ||||||||||||||||
| Proceeds from shares issued | 6,085 | 12,059 | 7,717 | 10,491 | ||||||||||||
| Reinvestment of dividends & distributions | 953 | – | 2,446 | 5,252 | ||||||||||||
| Cost of shares redeemed | (7,631 | ) | (15,921 | ) | (6,780 | ) | (20,846 | ) | ||||||||
| Net Increase (Decrease) from Class Y Transactions | (593 | ) | (3,862 | ) | 3,383 | (5,103 | ) | |||||||||
| Net Increase (Decrease) in Net Assets Derived from Capital Share Transactions | 25,458 | (60,807 | ) | (7,145 | ) | (162,871 | ) | |||||||||
| Net Increase (Decrease) in Net Assets | 11,818 | (53,085 | ) | (6,601 | ) | (144,957 | ) | |||||||||
| Net Assets: | ||||||||||||||||
| Beginning of Period | 376,634 | 429,719 | 943,363 | 1,088,320 | ||||||||||||
| End of Period | $ | 388,452 | $ | 376,634 | $ | 936,762 | $ | 943,363 | ||||||||
| Capital Share Transactions: | ||||||||||||||||
| Class F: | ||||||||||||||||
| Shares issued | 4,716 | 6,213 | 5,427 | 8,745 | ||||||||||||
| Reinvestment of distributions | 960 | – | 2,489 | 5,789 | ||||||||||||
| Shares redeemed | (2,783 | ) | (12,631 | ) | (8,983 | ) | (32,473 | ) | ||||||||
| Total Class F Transactions | 2,893 | (6,418 | ) | (1,067 | ) | (17,939 | ) | |||||||||
| Class Y: | ||||||||||||||||
| Shares issued | 667 | 1,323 | 810 | 1,198 | ||||||||||||
| Reinvestment of distributions | 106 | – | 264 | 607 | ||||||||||||
| Shares redeemed | (838 | ) | (1,766 | ) | (719 | ) | (2,400 | ) | ||||||||
| Total Class Y Transactions | (65 | ) | (443 | ) | 355 | (595 | ) | |||||||||
| Net Increase (Decrease) in Shares Outstanding from Share Transactions | 2,828 | (6,861 | ) | (712 | ) | (18,534 | ) | |||||||||
Amounts designated as "—" are $0 or have been rounded to $0.
The accompanying notes are an integral part of the financial statements.
| 72 | SEI Institutional International Trust |
FINANCIAL HIGHLIGHTS
For the six months ended March 31, 2026 (Unaudited) and the years ended September 30
For a Share Outstanding Throughout Each Year or Period
| Net
Asset Value, Beginning of Period |
Net Investment Income (Loss)(1) |
Net
Realized and Unrealized Gains (Losses) on Investments |
Total from Operations |
Dividends from Net Investment Income |
Distributions from Net Realized Gains |
Total Dividends and Distributions |
Net
Asset Value, End of Period |
Total Return† |
Net
Assets End of Period($ Thousands) |
Ratio
of Net Expenses to Average Net Assets* |
Ratio
of Expenses to Average Net Assets (Excluding Waivers)** |
Ratio
of Net Investment Income (Loss) to Average Net Assets |
Portfolio Turnover Rate† |
|||||||||||||||||||||||||||||||||||||||||||
| International Equity Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class F | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2026@ | $ | 14.37 | $ | 0.07 | $ | 0.91 | $ | 0.98 | $ | (0.44 | ) | $ | (1.74 | ) | $ | (2.18 | ) | $ | 13.17 | 7.25% | $ | 3,064,241 | 1.07 | % | 1.11 | % | 0.96 | % | 36 | % | ||||||||||||||||||||||||||
| 2025 | 13.33 | 0.26 | 2.12 | 2.38 | (0.37 | ) | (0.97 | ) | (1.34 | ) | 14.37 | 20.69 | 3,269,789 | 1.09 | (2) | 1.14 | 2.06 | 89 | ||||||||||||||||||||||||||||||||||||||
| 2024 | 10.87 | 0.24 | 2.46 | 2.70 | (0.24 | ) | — | (0.24 | ) | 13.33 | 25.13 | 3,680,808 | 1.10 | 1.10 | 2.04 | 72 | ||||||||||||||||||||||||||||||||||||||||
| 2023 | 8.66 | 0.21 | 2.18 | 2.39 | (0.18 | ) | — | (0.18 | ) | 10.87 | 27.81 | 3,415,372 | 1.10 | 1.11 | 1.99 | 87 | ||||||||||||||||||||||||||||||||||||||||
| 2022 | 13.57 | 0.21 | (3.38 | ) | (3.17 | ) | (0.23 | ) | (1.51 | ) | (1.74 | ) | 8.66 | (26.82 | ) | 3,114,144 | 1.09 | 1.09 | 1.91 | 108 | ||||||||||||||||||||||||||||||||||||
| 2021 | 10.86 | 0.16 | 2.67 | 2.83 | (0.12 | ) | — | (0.12 | ) | 13.57 | 26.18 | 4,242,911 | 1.08 | 1.08 | 1.19 | 105 | ||||||||||||||||||||||||||||||||||||||||
| Class I | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2026@ | $ | 14.40 | $ | 0.03 | $ | 0.94 | $ | 0.97 | $ | (0.32 | ) | $ | (1.74 | ) | $ | (2.06 | ) | $ | 13.31 | 7.17 | % | $ | 394 | 1.32 | % | 1.35 | % | 0.43 | % | 36 | % | |||||||||||||||||||||||||
| 2025 | 13.36 | 0.24 | 2.11 | 2.35 | (0.34 | ) | (0.97 | ) | (1.31 | ) | 14.40 | 20.34 | 965 | 1.34 | (3) | 1.39 | 1.85 | 89 | ||||||||||||||||||||||||||||||||||||||
| 2024 | 10.90 | 0.21 | 2.46 | 2.67 | (0.21 | ) | — | (0.21 | ) | 13.36 | 24.78 | 961 | 1.35 | 1.35 | 1.78 | 72 | ||||||||||||||||||||||||||||||||||||||||
| 2023 | 8.67 | 0.19 | 2.19 | 2.38 | (0.15 | ) | — | (0.15 | ) | 10.90 | 27.63 | 929 | 1.36 | 1.36 | 1.76 | 87 | ||||||||||||||||||||||||||||||||||||||||
| 2022 | 13.59 | 0.17 | (3.38 | ) | (3.21 | ) | (0.20 | ) | (1.51 | ) | (1.71 | ) | 8.67 | (27.05 | ) | 743 | 1.34 | 1.34 | 1.44 | 108 | ||||||||||||||||||||||||||||||||||||
| 2021 | 10.87 | 0.12 | 2.69 | 2.81 | (0.09 | ) | — | (0.09 | ) | 13.59 | 25.91 | 1,611 | 1.33 | 1.33 | 0.93 | 105 | ||||||||||||||||||||||||||||||||||||||||
| Class Y | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2026@ | $ | 14.37 | $ | 0.09 | $ | 0.91 | $ | 1.00 | $ | (0.47 | ) | $ | (1.74 | ) | $ | (2.21 | ) | $ | 13.16 | 7.43 | % | $ | 406,554 | 0.83 | % | 0.86 | % | 1.23 | % | 36 | % | |||||||||||||||||||||||||
| 2025 | 13.34 | 0.30 | 2.11 | 2.41 | (0.41 | ) | (0.97 | ) | (1.38 | ) | 14.37 | 20.96 | 414,853 | 0.84 | (4) | 0.89 | 2.36 | 89 | ||||||||||||||||||||||||||||||||||||||
| 2024 | 10.88 | 0.28 | 2.45 | 2.73 | (0.27 | ) | — | (0.27 | ) | 13.34 | 25.42 | 416,849 | 0.85 | 0.85 | 2.31 | 72 | ||||||||||||||||||||||||||||||||||||||||
| 2023 | 8.66 | 0.24 | 2.19 | 2.43 | (0.21 | ) | — | (0.21 | ) | 10.88 | 28.26 | 364,957 | 0.86 | 0.86 | 2.26 | 87 | ||||||||||||||||||||||||||||||||||||||||
| 2022 | 13.58 | 0.24 | (3.39 | ) | (3.15 | ) | (0.26 | ) | (1.51 | ) | (1.77 | ) | 8.66 | (26.70 | ) | 297,968 | 0.84 | 0.84 | 2.17 | 108 | ||||||||||||||||||||||||||||||||||||
| 2021 | 10.86 | 0.19 | 2.68 | 2.87 | (0.15 | ) | — | (0.15 | ) | 13.58 | 26.55 | 393,903 | 0.83 | 0.83 | 1.44 | 105 | ||||||||||||||||||||||||||||||||||||||||
| Emerging Markets Equity Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class F | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2026@ | $ | 13.99 | $ | 0.05 | $ | 1.17 | $ | 1.22 | $ | (0.52 | ) | $ | (0.09 | ) | $ | (0.61 | ) | $ | 14.60 | 8.89% | $ | 1,388,470 | 1.20 | % | 1.41 | % | 0.65 | % | 37 | % | ||||||||||||||||||||||||||
| 2025 | 12.17 | 0.21 | 1.96 | 2.17 | (0.35 | ) | — | (0.35 | ) | 13.99 | 18.60 | 1,443,376 | 1.25 | (5) | 1.44 | 1.78 | 75 | |||||||||||||||||||||||||||||||||||||||
| 2024 | 10.10 | 0.19 | 2.05 | 2.24 | (0.17 | ) | — | (0.17 | ) | 12.17 | 22.43 | 1,459,994 | 1.44 | 1.57 | 1.72 | 70 | ||||||||||||||||||||||||||||||||||||||||
| 2023 | 9.18 | 0.19 | 0.94 | 1.13 | (0.21 | ) | — | (0.21 | ) | 10.10 | 12.32 | 1,267,365 | 1.68 | 1.78 | 1.82 | 95 | ||||||||||||||||||||||||||||||||||||||||
| 2022 | 14.23 | 0.14 | (3.96 | ) | (3.82 | ) | (0.15 | ) | (1.08 | ) | (1.23 | ) | 9.18 | (29.26 | ) | 1,229,709 | 1.71 | 1.81 | 1.21 | 93 | ||||||||||||||||||||||||||||||||||||
| 2021 | 12.06 | 0.11 | 2.14 | 2.25 | (0.08 | ) | — | (0.08 | ) | 14.23 | 18.63 | 1,786,493 | 1.70 | 1.80 | 0.73 | 100 | ||||||||||||||||||||||||||||||||||||||||
| Class Y | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2026@ | $ | 14.00 | $ | 0.07 | $ | 1.16 | $ | 1.23 | $ | (0.55 | ) | $ | (0.09 | ) | $ | (0.64 | ) | $ | 14.59 | 9.00 | % | $ | 155,278 | 0.95 | % | 1.16 | % | 0.91 | % | 37 | % | |||||||||||||||||||||||||
| 2025 | 12.19 | 0.24 | 1.95 | 2.19 | (0.38 | ) | — | (0.38 | ) | 14.00 | 18.82 | 152,064 | 1.00 | (6) | 1.19 | 2.05 | 75 | |||||||||||||||||||||||||||||||||||||||
| 2024 | 10.11 | 0.21 | 2.07 | 2.28 | (0.20 | ) | — | (0.20 | ) | 12.19 | 22.82 | 149,775 | 1.19 | 1.32 | 1.94 | 70 | ||||||||||||||||||||||||||||||||||||||||
| 2023 | 9.19 | 0.21 | 0.94 | 1.15 | (0.23 | ) | — | (0.23 | ) | 10.11 | 12.63 | 139,853 | 1.43 | 1.53 | 2.02 | 95 | ||||||||||||||||||||||||||||||||||||||||
| 2022 | 14.25 | 0.18 | (3.98 | ) | (3.80 | ) | (0.18 | ) | (1.08 | ) | (1.26 | ) | 9.19 | (29.10 | ) | 118,670 | 1.46 | 1.56 | 1.50 | 93 | ||||||||||||||||||||||||||||||||||||
| 2021 | 12.07 | 0.14 | 2.15 | 2.29 | (0.11 | ) | — | (0.11 | ) | 14.25 | 18.96 | 153,789 | 1.45 | 1.55 | 0.98 | 100 | ||||||||||||||||||||||||||||||||||||||||
| @ | For the six-month period ended March 31, 2026. All ratios for the period have been annualized. |
| † | Returns and portfolio turnover rates are for the period indicated and have not been annualized. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
| * | Includes Fees Paid Indirectly, if applicable. There was no impact to the expense ratios. See Note 5 in Notes to Financial Statements. |
| ** | See Note 5 in Notes to Financial Statements. |
| (1) | Per share calculated using average shares. |
| (2) | The expense ratio includes a proxy fee expense. Had this expense been excluded the ratio would have been 1.07%. |
| (3) | The expense ratio includes a proxy fee expense. Had this expense been excluded the ratio would have been 1.32%. |
| (4) | The expense ratio includes a proxy fee expense. Had this expense been excluded the ratio would have been 0.82%. |
| (5) | The expense ratio includes a proxy fee expense. Had this expense been excluded the ratio would have been 1.23%. |
| (6) | The expense ratio includes a proxy fee expense. Had this expense been excluded the ratio would have been 0.98%. |
Amounts designated as “—” are either $0 or have been rounded to $0.
The accompanying notes are an integral part of the financial statements.
| SEI Institutional International Trust | 73 |
FINANCIAL HIGHLIGHTS
For the six months ended March 31, 2026 (Unaudited) and the years ended September 30
For a Share Outstanding Throughout Each Year or Period
| Net Asset Value, Beginning of Period |
Net Investment Income (Loss)(1) |
Net Realized and Unrealized Gains (Losses) on Investments |
Total from Operations |
Dividends from Net Investment Income |
Distributions from Net Realized Gains |
Total Dividends and Distributions |
Net Asset Value, End of Period |
Total Return† |
Net Assets End of Period($ Thousands) |
Ratio
of Net Expenses to Average Net Assets* |
Ratio
of Expenses to Average Net Assets (Excluding Waivers)** |
Ratio
of Net Investment Income (Loss) to Average Net Assets |
Portfolio Turnover Rate† |
|||||||||||||||||||||||||||||||||||||||||||
| International Fixed Income Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class F | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2026@ | $ | 9.17 | $ | 0.11 | $ | (0.18 | ) | $ | (0.07 | ) | $ | (0.25 | ) | $ | — | $ | (0.25 | ) | $ | 8.85 | (0.80 | )% | $ | 348,855 | 0.96 | % | 1.00 | % | 2.43 | % | 110 | % | ||||||||||||||||||||||||
| 2025 | 8.97 | 0.22 | (0.02 | ) | 0.20 | — | — | — | 9.17 | 2.23 | 334,968 | 0.98 | (2) | 1.06 | 2.48 | 87 | ||||||||||||||||||||||||||||||||||||||||
| 2024 | 8.23 | 0.19 | 0.55 | 0.74 | — | — | — | 8.97 | 8.99 | 385,079 | 1.01 | 1.04 | 2.17 | 167 | ||||||||||||||||||||||||||||||||||||||||||
| 2023 | 9.13 | 0.11 | 0.05 | 0.16 | (1.05 | ) | (0.01 | ) | (1.06 | ) | 8.23 | 1.88 | 384,986 | 1.02 | 1.06 | 1.35 | 44 | |||||||||||||||||||||||||||||||||||||||
| 2022 | 10.37 | 0.05 | (1.08 | ) | (1.03 | ) | (0.08 | ) | (0.13 | ) | (0.21 | ) | 9.13 | (10.15 | ) | 410,864 | 1.02 | 1.07 | 0.53 | 47 | ||||||||||||||||||||||||||||||||||||
| 2021 | 10.46 | 0.03 | (0.12 | ) | (0.09 | ) | — | — | ^ | — | 10.37 | (0.83 | ) | 485,178 | 1.02 | 1.07 | 0.32 | 65 | ||||||||||||||||||||||||||||||||||||||
| Class Y | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2026@ | $ | 9.25 | $ | 0.12 | $ | (0.18 | ) | $ | (0.06 | ) | $ | (0.27 | ) | $ | — | $ | (0.27 | ) | $ | 8.92 | (0.66 | )% | $ | 39,597 | 0.71 | % | 0.75 | % | 2.69 | % | 110 | % | ||||||||||||||||||||||||
| 2025 | 9.03 | 0.25 | (0.03 | ) | 0.22 | — | — | — | 9.25 | 2.44 | 41,666 | 0.73 | (3) | 0.81 | 2.71 | 87 | ||||||||||||||||||||||||||||||||||||||||
| 2024 | 8.27 | 0.21 | 0.55 | 0.76 | — | — | — | 9.03 | 9.19 | 44,640 | 0.76 | 0.79 | 2.41 | 167 | ||||||||||||||||||||||||||||||||||||||||||
| 2023 | 9.16 | 0.14 | 0.05 | 0.19 | (1.07 | ) | (0.01 | ) | (1.08 | ) | 8.27 | 2.30 | 53,870 | 0.77 | 0.81 | 1.59 | 44 | |||||||||||||||||||||||||||||||||||||||
| 2022 | 10.41 | 0.08 | (1.10 | ) | (1.02 | ) | (0.10 | ) | (0.13 | ) | (0.23 | ) | 9.16 | (10.00 | ) | 72,269 | 0.77 | 0.82 | 0.78 | 47 | ||||||||||||||||||||||||||||||||||||
| 2021 | 10.47 | 0.06 | (0.12 | ) | (0.06 | ) | — | — | ^ | — | 10.41 | (0.54 | ) | 76,381 | 0.77 | 0.82 | 0.57 | 65 | ||||||||||||||||||||||||||||||||||||||
| Emerging Markets Debt Fund | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Class F | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2026@ | $ | 9.38 | $ | 0.31 | $ | (0.01 | ) | $ | 0.30 | $ | (0.29 | ) | $ | — | $ | (0.29 | ) | $ | 9.39 | 3.23 | % | $ | 842,679 | 1.02 | % | 1.31 | % | 6.56 | % | 41 | % | |||||||||||||||||||||||||
| 2025 | 9.14 | 0.61 | 0.22 | 0.83 | (0.59 | ) | — | (0.59 | ) | 9.38 | 9.75 | 852,575 | 1.06 | (4) | 1.35 | 6.89 | 149 | |||||||||||||||||||||||||||||||||||||||
| 2024 | 8.19 | 0.53 | 0.88 | 1.41 | (0.46 | ) | — | (0.46 | ) | 9.14 | 17.75 | 994,439 | 1.11 | 1.38 | 6.16 | 103 | ||||||||||||||||||||||||||||||||||||||||
| 2023 | 7.52 | 0.48 | 0.51 | 0.99 | (0.32 | ) | — | (0.32 | ) | 8.19 | 13.13 | 1,102,419 | 1.30 | 1.56 | 5.79 | 95 | ||||||||||||||||||||||||||||||||||||||||
| 2022 | 10.06 | 0.40 | (2.78 | ) | (2.38 | ) | (0.16 | ) | — | (0.16 | ) | 7.52 | (24.04 | ) | 1,108,531 | 1.36 | 1.62 | 4.52 | 88 | |||||||||||||||||||||||||||||||||||||
| 2021 | 9.80 | 0.40 | 0.06 | 0.46 | (0.20 | ) | — | (0.20 | ) | 10.06 | 4.71 | 1,433,739 | 1.36 | 1.61 | 3.87 | 91 | ||||||||||||||||||||||||||||||||||||||||
| Class Y | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2026@ | $ | 9.30 | $ | 0.32 | $ | (0.02 | ) | $ | 0.30 | $ | (0.30 | ) | $ | — | $ | (0.30 | ) | $ | 9.30 | 3.28 | % | $ | 94,083 | 0.77 | % | 1.06 | % | 6.82 | % | 41 | % | |||||||||||||||||||||||||
| 2025 | 9.06 | 0.62 | 0.23 | 0.85 | (0.61 | ) | — | (0.61 | ) | 9.30 | 10.12 | 90,788 | 0.81 | (5) | 1.10 | 7.13 | 149 | |||||||||||||||||||||||||||||||||||||||
| 2024 | 8.15 | 0.55 | 0.86 | 1.41 | (0.50 | ) | — | (0.50 | ) | 9.06 | 17.95 | 93,881 | 0.86 | 1.13 | 6.43 | 103 | ||||||||||||||||||||||||||||||||||||||||
| 2023 | 7.49 | 0.50 | 0.51 | 1.01 | (0.35 | ) | — | (0.35 | ) | 8.15 | 13.50 | 92,433 | 1.05 | 1.31 | 6.08 | 95 | ||||||||||||||||||||||||||||||||||||||||
| 2022 | 10.03 | 0.42 | (2.77 | ) | (2.35 | ) | (0.19 | ) | — | (0.19 | ) | 7.49 | (23.87 | ) | 84,482 | 1.11 | 1.37 | 4.77 | 88 | |||||||||||||||||||||||||||||||||||||
| 2021 | 9.79 | 0.42 | 0.07 | 0.49 | (0.25 | ) | — | (0.25 | ) | 10.03 | 4.98 | 107,402 | 1.11 | 1.36 | 4.12 | 91 | ||||||||||||||||||||||||||||||||||||||||
| @ | For the six-month period ended March 31, 2026. All ratios for the period have been annualized. |
| ^ | Amount represents less than $0.005. |
| † | Returns and portfolio turnover rates are for the period indicated and have not been annualized. Returns do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. |
| * | Includes Fees Paid Indirectly, if applicable. There was no impact to the expense ratios. See Note 5 in Notes to Financial Statements. |
| ** | See Note 5 in Notes to Financial Statements. |
| (1) | Per share calculated using average shares. |
| (2) | The expense ratio includes a proxy fee expense. Had this expense been excluded the ratio would have been 0.96%. |
| (3) | The expense ratio includes a proxy fee expense. Had this expense been excluded the ratio would have been 0.71%. |
| (4) | The expense ratio includes a proxy fee expense. Had this expense been excluded the ratio would have been 1.04%. |
| (5) | The expense ratio includes a proxy fee expense. Had this expense been excluded the ratio would have been 0.79%. |
Amounts designated as “—” are either $0 or have been rounded to $0.
The accompanying notes are an integral part of the financial statements.
| 74 | SEI Institutional International Trust |
NOTES TO FINANCIAL STATEMENTS
March 31, 2026 (Unaudited)
1. ORGANIZATION
SEI Institutional International Trust (the “Trust”) was organized as a Massachusetts business trust under a Declaration of Trust dated June 30, 1988.
The Trust is registered under the Investment Company Act of 1940, as amended, as an open-end investment company with four funds: International Equity Fund, Emerging Markets Equity Fund, International Fixed Income Fund and Emerging Markets Debt Fund (together the “Funds”) each of which are diversified Funds with the exception of the International Fixed Income Fund and the Emerging Markets Debt Fund. Each Fund’s prospectus provides a description of its investment goal, principal investment strategies and risks. The assets of each Fund are segregated, and a Shareholder's interest is limited to the Fund in which shares are held. The Trust is registered to offer Class F (formerly Class A) and Class Y shares of each of the Funds and Class I shares of the International Equity Fund.
2. SIGNIFICANT ACCOUNTING POLICIES
The following are significant accounting policies, which are consistently followed in the preparation of its financial statements by the Funds. The Funds are investment companies that apply the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board (“FASB”).
Use of Estimates — The Funds are investment companies in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Therefore, the Funds follow the accounting and reporting guidelines for investment companies. The preparation of financial statements, in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.
Security Valuation — Pursuant to the requirements of the 1940 Act and Rule 2a-5, the administrator, as delegated by the Board of Trustees (the “Board”), has the responsibility for the valuation of Fund investments with readily available market quotations in accordance with the Funds’ Valuation and Pricing Policy. The Trust's Board of Trustees has designated SEI Investments Management Corporation (“SIMC”) as the Valuation Designee for the Funds pursuant to Rule 2a-5 (the “Rule”) under the 1940 Act. The Valuation Designee has the responsibility for the fair value determination with respect to all Fund investments that do not have
readily available market quotations or quotations that are no longer reliable. SIMC has appointed a Valuation Committee (the “Committee”) and has established a Valuation and Pricing Policy to implement the Rule and the Funds’ Valuation and Pricing Policy (together the “Policy”).
When valuing portfolio securities, a Fund values securities listed on a securities exchange, market or automated quotation system for which quotations are readily available (other than securities traded on National Association of Securities Dealers Automated Quotations (NASDAQ) or as otherwise noted below) at the last quoted sale price on an exchange or market (foreign or domestic) on which the securities are traded or, if there is no such reported sale, at the most recent quoted bid price. A Fund values securities traded on NASDAQ at the NASDAQ Official Closing Price. If available, debt securities, swaps (which are not centrally cleared), bank loans or debt tranches of collateralized debt obligations (including collateralized loan obligations), such as those held by the Funds, are priced based upon valuations provided by independent, third-party pricing agents. Such values generally reflect the last reported sales price if the security is actively traded. The third-party pricing agents may also value debt securities at an evaluated bid price by employing methodologies that utilize actual market transactions, broker-supplied valuations or other methodologies designed to identify the market value for such securities. Redeemable securities issued by open-end investment companies are valued at the investment company’s applicable Net Asset Value (“NAV”) per share, with the exception of ETFs, which are priced as equity securities. These open-end investment companies’ shares are offered in separate prospectuses, each of which describes the process by which the applicable investment company’s NAV is determined. The prices of foreign securities are reported in local currency and converted to U.S. dollars using currency exchange rates. If a security’s price cannot be obtained, as noted above, or in the case of an equity tranche of a CDO/CLO, a Fund will value the securities using a bid price from at least one independent broker.
On the first day a new debt security purchase is recorded, if a price is not available from a third-party pricing agent or an independent broker, the security may be valued at its purchase price. Each day thereafter, the debt security will be valued according to the Policy until an independent source can be secured. Debt securities held by a Fund with remaining maturities of 60 days or less will be valued by the amortized cost method, which involves valuing a security at its cost on the date of purchase and thereafter (absent unusual circumstances) assuming a constant amortization to maturity of any discount or premium, regardless of the impact of fluctuations in general market rates of interest on the value of the instrument. While this method provides certainty in valuation, it may result in periods during which value, as determined by this method, is higher or lower than the price the Fund would receive if it sold the instrument, and the value of securities in the Fund can be expected to vary inversely with changes in prevailing interest rates. Should existing credit, liquidity or interest rate conditions in the relevant markets and issuer specific circumstances suggest that amortized cost does not approximate fair value, then the amortized cost method may not be used.
| SEI Institutional International Trust | 75 |
NOTES TO FINANCIAL STATEMENTS (Continued)
March 31, 2026 (Unaudited)
Options are valued at the last quoted sales price. If there is no such reported sale on the valuation date, long positions are valued at the most recent bid price, and short positions are valued at the most recent ask price. Futures and swaps cleared through a central clearing house (“centrally cleared swaps”) are valued at the settlement price established each day by the board of exchange on which they are traded. The daily settlement prices for financial futures and centrally cleared swaps are provided by an independent source. On days when there is excessive volume, market volatility or the future or centrally cleared swap does not end trading by the time the Fund calculates its NAV, the settlement price may not be available at the time at which a Fund calculates its NAV. On such days, the best available price (which is typically the last sales price) may be used to value a Fund’s futures or centrally cleared swaps position.
Foreign currency forward contracts are valued at the current day’s interpolated foreign exchange rate, as calculated using forward rates provided by an independent source.
Prices for most securities held by a Fund are provided daily by third-party independent pricing agents. SIMC or a Sub-Adviser (“Sub-Adviser”), as applicable, reasonably believes that prices provided by independent pricing agents are reliable. However, there can be no assurance that such pricing service’s prices will be reliable. SIMC will continuously monitor the reliability of prices obtained from any pricing service and shall promptly notify the Funds’ administrator if it believes that a particular pricing service is no longer a reliable source of prices. The Funds’ administrator, in turn, will notify SIMC, as Valuation Designee, if it receives such notification from a Sub-Adviser, as applicable, or if the Funds’ administrator reasonably believes that a particular pricing service is no longer a reliable source for prices.
The Policy provides that any change in a primary pricing agent or a pricing methodology requires prior approval by the Board of Trustees (“Board”). However, when
the change would not materially affect the valuation of a Fund’s net assets or involve a material departure in pricing methodology from that of a Fund’s existing pricing agent or pricing methodology, ratification may be obtained at the next regularly scheduled meeting of the Board.
Securities for which market prices are not "readily available" are valued in accordance with Rule 2a-5 and the Policy.
The Valuation Designee must monitor for circumstances that may necessitate that a security be valued using Fair Value Procedures which can include: (i) the security's trading has been halted or suspended, (ii) the security has been de-listed from a national exchange, (iii) the security's primary trading market is temporarily closed at a time when under normal conditions it would be open, (iv) the security has not been traded for an extended period of time, (v) the security's primary pricing source is not able or willing to provide a price, (vi) trading of the security is subject to local government-imposed restrictions; or (vii) a significant event (as defined below). When a security is valued in accordance with the Fair Value Procedures, the Valuation Designee will determine the value after taking into consideration relevant information reasonably available to the Valuation Designee. Examples of factors the Valuation Designee may consider include: (i) the type of security or asset, (ii) the last trade price, (iii) evaluation of the forces that influence the market in which the security is purchased and sold, (iv) the liquidity of the security, (v) the size of the holding in a Fund or (vi) any other appropriate information.
The Valuation Designee is responsible for selecting and applying, in a consistent manner, the appropriate methodologies for determining and calculating the fair value of holdings of the Funds, including specifying the key inputs and assumptions specific to each asset class or holding.
The determination of a security’s fair value price often involves the consideration of a number of subjective factors and is therefore subject to the unavoidable risk that the value assigned to a security may be higher or lower than the security’s value would be if a reliable market quotation for the security was readily available.
The International Equity and Emerging Markets Equity Funds use a third-party fair valuation vendor. The vendor provides a fair value for foreign securities held by the International Equity and Emerging Markets Equity Funds based on certain factors and methodologies (involving, generally, tracking valuation correlations between the U.S. market and each non-U.S. security). Values from the vendor are applied in the event that there is a movement in the U.S. market that exceeds a specific threshold that has been established by the Committee. The Committee has also established a “confidence interval,” which is used to determine the level of historical correlation between the value of a specific foreign security and movements in the U.S. market before a particular security will be fair-valued when the threshold is exceeded. In the event that the threshold established by the Committee is exceeded on a specific day, the International Equity and Emerging Markets Equity Funds shall value the non-U.S. securities in their portfolios that exceed the applicable “confidence interval” based upon the adjusted prices provided by the vendor. Additionally, if a local market in which the International Equity or Emerging Markets Equity Funds own securities is closed for one or more days (scheduled or unscheduled) while the Fund is open, and if such securities in a Fund’s portfolio exceed the predetermined confidence interval discussed above, then such Fund shall value such securities based on the fair value prices provided by the vendor.
| 76 | SEI Institutional International Trust |
For securities that principally trade on a foreign market or exchange, a significant gap in time can exist between the time of a particular security’s last trade and the time at which a Fund calculates its NAV. The closing prices of such securities may no longer reflect their market value at the time a Fund calculates NAV if an event that could materially affect the value of those securities (a “Significant Event”), including substantial fluctuations in domestic or foreign markets or occurrences not tied directly to the securities markets, such as natural disasters, armed conflicts or significant governmental actions, has occurred between the time of the security’s last close and the time that a Fund calculates NAV. A Fund may invest in securities that are primarily listed on foreign exchanges that trade on weekends or other days when the Fund does not price its shares. As a result, the NAV of the Fund’s shares may change on days when shareholders will not be able to purchase or redeem Fund shares.
A Significant Event may relate to a single issuer or to an entire market sector. If SIMC or a Sub-Adviser becomes aware of a Significant Event that has occurred with respect to a security or group of securities after the closing of the exchange or market on which the security or securities principally trade, but before the time at which a Fund calculates NAV, it may request that a Committee meeting be called. In addition, with respect to certain securities, the Funds’ administrator performs price comparisons and price movement review (among other processes), to monitor the pricing data supplied by various sources. Any identified discrepancies are researched and subject to the procedures described above.
In accordance with U.S. GAAP, fair value is defined as the price that the Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal or most advantageous market of the investment. A three-tier hierarchy has been established to maximize the use of the observable market data and minimize the use of unobservable inputs and to establish classification of the fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing an asset. Inputs may be observable or unobservable. Observable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity. Unobservable inputs are inputs that reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability developed based on the best information available in the circumstances.
The three-tier hierarchy of inputs is summarized in the three broad Levels listed below:
Level 1 — quoted prices in active markets for identical investments
Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risks, etc.)
Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
Investments are classified within the level of the lowest significant input considered in determining fair value. Investments classified within Level 3 whose fair value measurement considers several inputs may include Level 1 or Level 2 inputs as components of the overall fair value measurement.
The valuation techniques used by the Funds to measure fair value during the year ended March 31, 2026 maximized the use of observable inputs and minimized the use of unobservable inputs.
For the year ended March 31, 2026, there have been no significant changes to the inputs or the Trust’s fair valuation methodologies.
Security Transactions and Investment Income — Security transactions are recorded on the trade date. Cost used in determining net realized capital gains and losses on the sale of securities is determined on the basis of specific identification. Dividend income and expense is recognized on the ex-dividend date, and interest income or expense is recognized using the accrual basis of accounting.
| SEI Institutional International Trust | 77 |
NOTES TO FINANCIAL STATEMENTS (Continued)
March 31, 2026 (Unaudited)
Distributions received on securities that represent a return of capital or capital gain are recorded as a reduction of cost of investments and/or as a realized gain. The Trust estimates the components of distributions received that may be considered nontaxable distributions or capital gain distributions.
Amortization and accretion is calculated using the scientific interest method, which is not materially different from the effective interest method. Amortization of premiums and discounts is included in interest income.
Cash and Cash Equivalents — Idle cash and currency balances may be swept into various overnight sweep accounts and are classified as cash and cash equivalents on the Statement of Assets and Liabilities. These amounts, at times, may exceed United States federally insured limits. Amounts swept are available on the next business day.
Expenses — Expenses that are directly related to one of the Funds are charged directly to that Fund. Other operating expenses of the Trust are prorated to the Funds on the basis of relative daily net assets.
Classes —Class-specific expenses are borne by that class. Income, non-class specific expenses, and realized and unrealized gains/losses are allocated to the respective classes on the basis of relative daily net assets.
Foreign Currency Translation — The books and records of the Funds investing in international securities are maintained in U.S. dollars on the following basis:
(i) market value of investment securities, assets and liabilities at the current rate of exchange; and
(ii) purchases and sales of investment securities, income and expenses at the relevant rates of exchange prevailing on the respective dates of such transactions.
The Funds do not isolate that portion of gains and losses on investments in investment securities that is due to changes in the foreign exchange rates from that which is due to changes in market prices of investment securities.
The Funds report certain foreign-currency-related transactions as components of realized gains for financial reporting purposes, whereas such components are treated as ordinary income for Federal income tax purposes.
Forward Foreign Currency Contracts — To the extent consistent with its investment objective and strategies, a Fund may enter into forward foreign currency contracts
as hedges against either specific transactions, fund positions, speculative purposes or anticipated fund positions. All commitments are “marked-to-market” daily at the applicable foreign exchange rate, and any resulting unrealized gains or losses are recorded currently. The Fund realizes gains and losses at the time forward contracts are extinguished. Unrealized gains or losses on outstanding positions in forward foreign currency contracts held at the close of the period are recognized as ordinary income or loss for federal income tax purposes. The Fund could be exposed to risk if the counterparties to the contracts are unable to meet the terms of the contract and from unanticipated movements in the value of a foreign currency relative to the U.S. dollar.
Finally, the risk exists that losses could exceed amounts disclosed on the Statement of Assets and Liabilities. Refer to each Fund’s Schedule of Investments for details regarding open forward foreign currency contracts as of March 31, 2026, if applicable.
Futures Contracts — To the extent consistent with its investment objective and strategies, the Funds may purchase futures contracts to gain exposure to market changes, which may be more efficient or cost effective than actually buying the securities. To the extent consistent with its investment objective and strategies, a Fund may utilize futures contracts for tactical hedging purposes as well as to enhance the Funds’ returns and may also utilize futures contracts to efficiently assist in managing the Funds’ duration and yield curve exposure. Upon entering into such a contract, a Fund is required to deposit and maintain as collateral such initial margin as required by the exchange on which the contract is held. The contracts are marked to market daily and the resulting changes in value are accounted for as unrealized gains and losses. Variation margin payments are paid or received, depending upon whether unrealized losses or gains are incurred. When the contract is closed, the Funds record a realized gain or loss equal to the difference between the proceeds from (or cost of) the closing transaction and the amount invested in the contract.
Risks of entering into futures contracts include the possibility that there will be an imperfect price correlation between the futures and the underlying securities. Second, it is possible that a lack of liquidity for futures contracts could exist in the secondary market, resulting in an inability to close a position prior to its maturity date. Third, the futures contract involves the risk that a Fund could lose more than the original margin deposit required to initiate a futures transaction.
Finally, the risk exists that losses could exceed amounts disclosed on the Statement of Assets and Liabilities.
| 78 | SEI Institutional International Trust |
Refer to each Fund’s Schedule of Investments for details regarding open futures contracts as of March 31, 2026, if applicable.
Options/Swaptions Written/Purchased — To the extent consistent with its investment objective and strategies, a Fund may invest in financial options/swaptions contracts for the purpose of hedging its existing portfolio securities, or securities that a Fund intends to purchase, against fluctuations in fair market value caused by changes in prevailing market interest rates. A Fund may also invest in financial option/swaption contracts to enhance its returns. When the Fund writes or purchases an option/swaption, an amount equal to the premium received or paid by the Fund is recorded as a liability or an asset and is subsequently adjusted to the current market value of the option/swaption written or purchased. Premiums received or paid from writing or purchasing options/swaptions which expire unexercised are treated by the Fund on the expiration date as realized gains or losses. The difference between the premium and the amount paid or received on effecting a closing purchase or sale transaction, including brokerage commissions, is also treated as a realized gain or loss. If an option/swaption is exercised, the premium paid or received is added to the cost of the purchase or proceeds from the sale in determining whether the Fund has realized a gain or a loss.
The risk in writing a call option/swaption is a Fund may give up the opportunity for profit if the market price of the security increases. The risk in writing a put option/swaption is a Fund may incur a loss if the market price of the security decreases and the option/swaption is exercised. The risk in purchasing an option/swaption is a Fund may pay a premium whether or not the option/swaption is exercised. The Funds also have the additional risk of being unable to enter into a closing transaction at an acceptable price if a liquid secondary market does not exist. Option/swaption contracts also involve the risk that they may not work as intended due to unanticipated developments in market conditions or other causes.
Finally, the risk exists that losses on written options could exceed amounts disclosed on the Statements of Assets and Liabilities. Refer to each Fund’s Schedule of Investments for details regarding open option/swaption contracts as of March 31, 2026, if applicable.
Swap Agreements — To the extent consistent with its investment objective and strategies, a Fund may invest in swap contracts as an efficient means to take and manage risk in the portfolio, including interest rate risk, credit risk and overall yield sensitivity. A swap agreement is a two-party contract under which an agreement is made to exchange returns from
predetermined investments or instruments, including a particular interest rate, foreign currency, or “basket” of securities representing a particular index. Swap agreements are privately negotiated in the over-the-counter market (“OTC swaps”) or may be executed in a multilateral or other trade facility platform, such as a registered commodities exchange (“Centrally Cleared swaps”). Interest rate swaps involve the exchange by a Fund with another party of their respective commitments to pay or receive interest (e.g., an exchange of floating rate payments for fixed rate payments) with respect to a notional amount of principal. Credit default swaps involve the periodic payment by a Fund or counterparty of interest based on a specified rate multiplied by a notional amount assigned to an underlying debt instrument or group of debt instruments in exchange for the assumption of credit risk on the same instruments. In the event of a credit event, usually in the form of a credit rating downgrade, the party receiving periodic payments (i.e. floating rate payer) must pay the other party (i.e. fixed rate payer) an amount equal to the outstanding principal of the downgraded debt instrument. Total return swaps allow an investor to benefit from the cash flow without ever actually owning the underlying security. The receiver must pay any decline in value to the payer at the end of the total return swap. However, the investor does not need to make a payment if there is no decline in price. Payments can be made on various indices, bonds (i.e. mortgage backed securities, bank debt and corporate), loans or commodities. The value of a total return swap is equal to the change in value of the underlying asset versus the accrued income payment based on SOFR (Secured Overnight Financing Rate) or some other form of index on the notional amount. Interest rate swaps involve the exchange by a Fund with another party of their respective commitments to pay or receive interest (e.g., an exchange of floating rate payments for fixed rate payments) with respect to a notional amount of principal to manage a Fund’s exposure to interest rates. Payments received or made are recorded as realized gains or losses. A Fund could be exposed to credit or market risk due to unfavorable changes in the fluctuation of interest rates or if the counterparty defaults on its obligation to perform. Risk of loss may exceed amounts recognized on the statement of assets and liabilities. In connection with swap agreements, securities/cash may be set aside as collateral by the Fund’s custodian. A Fund may enter into swap agreements in order to, among other things, change the maturity or duration of the investment portfolio; protect a Fund’s value from changes in interest rates; or expose a Fund to a different security or market.
Swaps are marked-to-market daily based upon quotations from market makers and the resulting changes in market values, if any, are recorded as unrealized gains or losses in the Statement of Operations. Centrally cleared swaps are valued at the settlement price established each day by the board of exchange on which they are traded. The daily settlement prices for centrally cleared swaps are provided by an independent source. Net payments of interest are recorded as realized gains or losses. Daily changes in valuation of Centrally Cleared swaps, if any, are recorded as a receivable or payable for the change in value as appropriate (“variation margin”) on the Statements of Assets and Liabilities.
| SEI Institutional International Trust | 79 |
NOTES TO FINANCIAL STATEMENTS (Continued)
March 31, 2026 (Unaudited)
Entering into swap agreements involves, to varying degrees, elements of credit and market risk in excess of the amounts recognized on the Schedule of Investments or the Statement of Assets and Liabilities. Such risks involve the possibility that there will be no liquid market for these agreements, that the counterparty to the agreement may default on its obligation to perform and that there may be unfavorable changes in the fluctuation of interest rates. Risks also arise from potential losses from adverse market movements.
Counterparty risk may be mitigated by having a master netting arrangement between a Fund and the counterparty and by having the counterparty post collateral to cover a Fund’s exposure to the counterparty. Refer to each Fund’s Schedule of Investments for details regarding open swap contracts as of March 31, 2026, if applicable.
Delayed Delivery Transactions — A Fund may purchase or sell securities on a when-issued or delayed delivery basis. These transactions involve a commitment by the Fund to purchase or sell securities for a predetermined price or yield, with payment and delivery taking place beyond the customary settlement period. When delayed delivery purchases are outstanding, the Fund will set aside liquid assets in an amount sufficient to meet the purchase price. When purchasing a security on a delayed delivery basis, the Fund assumes the rights and risks of ownership of the security, including the risk of price and yield fluctuations, and takes such fluctuations into account when determining its net asset value. The Fund may dispose of or renegotiate a delayed delivery transaction after it is entered into, and may sell when-issued securities before they are delivered, which may result in a capital gain or loss. When the Fund has sold a security on a delayed delivery basis, the Fund does not participate in future gains and losses with respect to the security.
Loan Participations and Brady Bonds — To the extent consistent with its investment objective and strategies, a Fund may invest in U.S. dollar-denominated fixed- and floating-rate loans (“Loans”) arranged through private
negotiations between a foreign sovereign entity and one or more financial institutions (“Lenders”). The Fund invests in such Loans in the form of participations in Loans (“Participations”) or assignments of all or a portion of Loans from third parties. Participations typically result in a Fund having a contractual relationship only with the Lenders, not with the sovereign borrowers. The Fund has the right to receive payments of principal, interest and any fees to which it is entitled from the Lender selling the Participation and only upon receipt by the Lender of the payments from the borrower. In connection with purchasing Participations, the Fund generally has no right to enforce compliance by the borrower with the terms of the loan agreement relating to the Loan, nor any rights of set-off against the borrower, and the Fund will not benefit directly from any collateral supporting the Loan in which it has purchased the Participation. As a result, the Fund assumes the credit risk of both the borrower and the Lender that is selling the Participation.
Certain debt obligations, customarily referred to as “Brady Bonds”, are created through the exchange of existing commercial bank loans to foreign entities for new obligations in connection with debt restructuring under a plan introduced by former U.S. Secretary of the Treasury Nicholas F. Brady. Brady Bonds have only been issued since 1989, and, accordingly, do not have a long payment history. They are issued by governments that may have previously defaulted on the loans being restructured by the Brady Bonds, so they are subject to the risk of default by the issuer. They may be fully or partially collateralized or uncollateralized and issued in various currencies.
Dividends and Distributions to Shareholders — The International Equity, Emerging Markets Equity and International Fixed Income Funds will distribute substantially all of their net investment income and all net realized capital gains, if any, at least annually. The Emerging Markets Debt Fund will distribute substantially all of its net investment income, if any, at least quarterly and all net realized gains, if any, at least annually. All dividends and distributions are recorded on ex-dividend date.
Investments in Real Estate Investment Trusts (“REITs”) — Dividend income is recorded based on the income included in distributions received from the REIT investments using published REIT reclassifications including management estimates when actual amounts are not available. Distributions received in excess of this estimated amount are recorded as a reduction of the cost of investments or reclassified to capital gains. The actual amounts of income, return of capital, and capital gains are only determined by each REIT after its fiscal year-end, and may differ from the estimated amounts.
| 80 | SEI Institutional International Trust |
3. CREDIT DERIVATIVES
A Fund may use credit default swaps to reduce risk where a Fund has exposure to the issuer, or to take an active long or short position with respect to the likelihood of an event of default. The reference obligation of the swap can be a single issuer, a “basket” of issuers, or an index. The underlying referenced assets are corporate debt, sovereign debt and asset backed securities.
The buyer of a credit default swap is generally obligated to pay the seller a periodic stream of payments over the term of the contract in return for a contingent payment upon the occurrence of a credit event with respect to an underlying reference obligation. Generally, a credit event for corporate or sovereign reference obligations means bankruptcy, failure to pay, obligation acceleration, repudiation/moratorium or restructuring. For credit default swaps on asset-backed securities, a credit event may be triggered by events such as failure to pay principal, maturity extension, rating downgrade or write-down.
If a Fund is a seller of protection, and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund will generally either (i) pay to the buyer an amount equal to the notional amount of the swap and take delivery of the referenced obligation, other deliverable obligations, or underlying securities comprising a referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising a referenced index.
If a Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, a Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation, other deliverable obligations or underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index. Recovery values are calculated by market makers considering either industry standard recovery rates or entity specific factors and considerations until a credit event occurs. If a credit event has occurred, the recovery value is determined by a facilitated auction whereby a minimum number of allowable broker bids, together with a specified valuation method, are used to calculate the settlement value.
Certain Funds are party to International Swap Dealers Association, Inc. Master Agreements ("ISDA Master Agreements"). These agreements are with select counterparties and they govern transactions, including certain over-the counter derivative and foreign exchange contracts, entered into by the Funds and the counterparty.
The notional amounts of the swaps are not recorded in the financial statements; however the notional amounts approximate the maximum potential amount of future payments that the Fund could be required to make if the Fund was the seller of protection and a credit event were to occur. Those credit default swaps (“CDS”) for which the Fund is providing protection at the balance sheet date are summarized as follows ($ Thousands):
International Fixed Income Fund
Maximum Potential Amount of Future Payments by Contract Term
| 0-6 Months | 6-12 Months | 1-5 Years | 5-10 Years | >10 Years | Total | |||||||||||||||||||
| Current credit spread* on underlying (in basis points)(1) | ||||||||||||||||||||||||
| 0-100 | $ | – | $ | – | $ | – | $ | – | $ | – | $ | – | ||||||||||||
| 101-200 | – | – | – | – | – | – | ||||||||||||||||||
| 201-300 | – | – | – | – | – | – | ||||||||||||||||||
| 301-400 | – | – | 430 | – | – | 430 | ||||||||||||||||||
| Greater than 400 | – | – | – | – | – | – | ||||||||||||||||||
| Total | $ | – | $ | – | $ | 430 | $ | – | $ | – | $ | 430 | ||||||||||||
| * | The credit spread on the underlying asset is generally indicative of the current status of the underlying risk of the Fund having to perform. The spread also reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into a contract. Higher credit spreads with a shorter contract term is indicative of a higher likelihood of performance by the Fund. |
The credit spread disclosed above for each reference obligation where the Fund is the seller of protection is a representation of the current payment/performance risk of the swap.
| SEI Institutional International Trust | 81 |
NOTES TO FINANCIAL STATEMENTS (Continued)
March 31, 2026 (Unaudited)
4. DERIVATIVE CONTRACTS
The following tables show the derivatives categorized by underlying risk exposure. The fair value of derivative instruments as of period end was as follows ($ Thousand):
| Asset Derivatives | Liability Derivatives | |||||||||||
| Period ended March 31, 2026 | Period ended March 31, 2026 | |||||||||||
| Statements of Assets and Liabilities Location | Fair Value | Statements of Assets and Liabilities Location | Fair Value | |||||||||
| International Equity Fund | ||||||||||||
| Equity contracts | Unrealized appreciation on futures contracts | $ | – | * | Unrealized depreciation on futures contracts | $ | 763 | * | ||||
| Unrealized appreciation on swaps contracts | – | † | Unrealized depreciation on swaps contracts | 1,768 | † | |||||||
| Total derivatives not accounted for as hedging instruments | $ | – | $ | 2,531 | ||||||||
| Emerging Markets Equity Fund | ||||||||||||
| Equity contracts | Unrealized appreciation on futures contracts | $ | – | * | Unrealized depreciation on futures contracts | $ | 595 | * | ||||
| Total derivatives not accounted for as hedging instruments | $ | – | $ | 595 | ||||||||
| International Fixed Income Fund | ||||||||||||
| Equity contracts | Unrealized appreciation on swaps contracts | $ | – | † | Unrealized depreciation on swaps contracts | $ | 123 | † | ||||
| Interest rate contracts | Unrealized appreciation on futures contracts | 744 | * | Unrealized depreciation on futures contracts | 588 | * | ||||||
| Unrealized appreciation on swaps contracts | 1,362 | † | Unrealized depreciation on swaps contracts | 1,550 | † | |||||||
| Credit Contracts | Unrealized appreciation on swaps contracts | 1 | † | Unrealized depreciation on swaps contracts | 1 | † | ||||||
| Unrealized appreciation on swaps contracts | 77 | † | Unrealized depreciation on swaps contracts | 27 | † | |||||||
| Foreign exchange contracts | Unrealized gain on forward foreign currency contracts | 7,667 | Unrealized loss on forward foreign currency contracts | 2,601 | ||||||||
| Total derivatives not accounted for as hedging instruments | $ | 9,851 | $ | 4,890 | ||||||||
| Emerging Markets Debt Fund | ||||||||||||
| Equity contracts | Unrealized appreciation on swaps contracts | $ | 557 | * | Unrealized depreciation on swaps contracts | $ | 25 | * | ||||
| Interest rate contracts | Unrealized appreciation on futures contracts | 140 | * | Unrealized depreciation on futures contracts | – | * | ||||||
| Unrealized appreciation on swaps contracts | 2,171 | † | Unrealized depreciation on swaps contracts | 3,772 | † | |||||||
| Investments, at value** | 623 | Options written, at value | 601 | |||||||||
| Credit Contracts | Unrealized appreciation on swaps contracts | – | † | Unrealized depreciation on swaps contracts | 162 | † | ||||||
| Unrealized appreciation on swaps contracts | 77 | † | Unrealized depreciation on swaps contracts | – | † | |||||||
| Foreign exchange contracts | Unrealized gain on forward foreign currency contracts | 7,568 | Unrealized loss on forward foreign currency contracts | 6,245 | ||||||||
| Total derivatives not accounted for as hedging instruments | $ | 11,136 | $ | 10,805 | ||||||||
| * | Includes cumulative appreciation/depreciation of futures contracts as reported in the Schedules of Investments. Only current day’s variation margin is reported within the Statements of Assets & Liabilities. |
| ** | Includes purchased options. |
| 82 | SEI Institutional International Trust |
| † | Includes cumulative appreciation/depreciation of swap contracts as reported in the Schedules of Investments. Market Value is reported within the Statements of Assets & Liabilities for OTC swap contracts that have paid premiums. For centrally cleared swap contracts current days variation margin is reported within the Statements of Assets & Liabilities. |
The effect of derivative instruments on the Statements of Operations for the six months ended March 31, 2026:
Amount of realized gain or (loss) on derivatives recognized in income ($ Thousands):
| Derivatives Not Accounted for as Hedging Instruments |
Purchased Options and Swaptions |
Written Options and Swaptions |
Futures |
Forward Currency Contracts |
Swaps | Total | ||||||||||||||||||
| International Equity Fund | ||||||||||||||||||||||||
| Equity contracts | $ | – | $ | – | $ | 4,382 | $ | – | $ | 21,082 | $ | 25,464 | ||||||||||||
| Total | $ | – | $ | – | $ | 4,382 | $ | – | $ | 21,082 | $ | 25,464 | ||||||||||||
| Emerging Markets Equity Fund | ||||||||||||||||||||||||
| Equity contracts | $ | – | $ | – | $ | 2,351 | $ | – | $ | – | $ | 2,351 | ||||||||||||
| Total | $ | – | $ | – | $ | 2,351 | $ | – | $ | – | $ | 2,351 | ||||||||||||
| International Fixed Income Fund | ||||||||||||||||||||||||
| Interest rate contracts | $ | – | $ | – | $ | (735 | ) | $ | – | $ | 425 | $ | (310 | ) | ||||||||||
| Foreign exchange contracts | – | – | – | 4,815 | – | 4,815 | ||||||||||||||||||
| Credit contracts | – | – | – | – | (246 | ) | (246 | ) | ||||||||||||||||
| Equity contracts | – | – | – | – | (92 | ) | (92 | ) | ||||||||||||||||
| Total | $ | – | $ | – | $ | (735 | ) | $ | 4,815 | $ | 87 | $ | 4,167 | |||||||||||
| Emerging Markets Debt Fund | ||||||||||||||||||||||||
| Interest rate contracts | $ | – | $ | – | $ | (72 | ) | $ | – | $ | 1,123 | $ | 1,051 | |||||||||||
| Foreign exchange contracts | 847 | 615 | – | 1,310 | – | 2,772 | ||||||||||||||||||
| Credit contracts | – | – | – | – | (569 | ) | (569 | ) | ||||||||||||||||
| Equity contracts | – | – | – | – | 457 | 457 | ||||||||||||||||||
| Total | $ | 847 | $ | 615 | $ | (72 | ) | $ | 1,310 | $ | 1,011 | $ | 3,711 | |||||||||||
Change in unrealized appreciation or (depreciation) on derivatives recognized in income ($ Thousands):
| Derivatives Not Accounted for as Hedging Instruments | Purchased Options and Swaptions | Written Options and Swaptions | Futures | Forward Currency Contracts | Swaps | Total | ||||||||||||||||||
| International Equity Fund | ||||||||||||||||||||||||
| Equity contracts | $ | – | $ | – | $ | (1,384 | ) | $ | – | $ | 188 | $ | (1,196 | ) | ||||||||||
| Total | $ | – | $ | – | $ | (1,384 | ) | $ | – | $ | 188 | $ | (1,196 | ) | ||||||||||
| Emerging Markets Equity Fund | ||||||||||||||||||||||||
| Equity contracts | $ | – | $ | – | $ | (680 | ) | $ | – | $ | – | $ | (680 | ) | ||||||||||
| Total | $ | – | $ | – | $ | (680 | ) | $ | – | $ | – | $ | (680 | ) | ||||||||||
| International Fixed Income Fund | ||||||||||||||||||||||||
| Interest rate contracts | $ | – | $ | – | $ | 383 | $ | – | $ | (759 | ) | $ | (376 | ) | ||||||||||
| Foreign exchange contracts | – | – | – | 4,811 | – | 4,811 | ||||||||||||||||||
| Credit contracts | – | – | – | – | 132 | 132 | ||||||||||||||||||
| Equity contracts | 27 | – | – | – | – | 27 | ||||||||||||||||||
| Total | $ | 27 | $ | – | $ | 383 | $ | 4,811 | $ | (627 | ) | $ | 4,594 | |||||||||||
| Emerging Markets Debt Fund | ||||||||||||||||||||||||
| Interest rate contracts | $ | – | $ | – | $ | 159 | $ | – | $ | (4,676 | ) | $ | (4,517 | ) | ||||||||||
| Foreign exchange contracts | (311 | ) | (349 | ) | – | 1,743 | – | 1,083 | ||||||||||||||||
| Credit contracts | – | – | – | – | 434 | 434 | ||||||||||||||||||
| Equity contracts | – | – | – | – | 524 | 524 | ||||||||||||||||||
| Total | $ | (311 | ) | $ | (349 | ) | $ | 159 | $ | 1,743 | $ | (3,718 | ) | $ | (2,476 | ) | ||||||||
| SEI Institutional International Trust | 83 |
NOTES TO FINANCIAL STATEMENTS (Continued)
March 31, 2026 (Unaudited)
A Fund is subject to various netting arrangements with select counterparties (“Master Agreements”). Master Agreements govern the terms of certain transactions, and reduce the counterparty risk associated with relevant transactions by specifying credit protection mechanisms and providing standardization that improves legal certainty. Since different types of transactions have different mechanics and are sometimes traded out of different legal entities of a particular counterparty organization, each type of transaction may be covered by a different Master Agreement, resulting in the need for multiple agreements with a single counterparty. As the Master Agreements are specific to unique operations of different asset types, they allow a Fund to close out and net its total exposure to a specific counterparty entity in the event of a default with respect to all the transactions governed under a single agreement with a specific counterparty entity.
Master Agreements can also help limit counterparty risk by specifying collateral posting arrangements at pre-arranged exposure levels. Under the Master Agreements, collateral is routinely transferred if the total net exposure to certain transactions (net of existing collateral already in place) governed under the relevant Master Agreement with a counterparty in a given account exceeds a specified threshold, which typically ranges from zero to $250,000 depending on the counterparty and the type of Master Agreement. United States Treasury Securities and U.S. dollar cash are generally the preferred forms of collateral. Securities and cash pledged as collateral are reflected as assets in the Statements of Assets and Liabilities as either a component of investments at value (securities) or deposits due from counterparties (cash). Cash collateral received is not typically held in a segregated account and as such is reflected as a liability in the Statement of Assets and Liabilities as deposits due to counterparties. The market value of any securities received as collateral is not reflected as a component of net asset value. A Fund’s overall exposure to counterparty risk can change substantially within a short period, as it is affected by each transaction subject to the relevant Master Agreement.
Customer Account Agreements and related addendums govern exchange traded derivatives transactions such as futures, options on futures, and centrally cleared swaps. Exchange traded derivative transactions require posting of initial margin as determined by each relevant clearing agency which is segregated at a broker account registered with the Commodities Futures Trading Commission (CFTC), or the applicable regulator. In the US, counterparty risk is significantly reduced as creditors of the futures broker do not have claim to Fund assets
in the segregated account. Additionally, portability of exposure in the event of default further reduces risk to the Funds. Variation margin, or changes in market value, are exchanged daily, but may not be netted between futures and cleared OTC derivatives.
| 84 | SEI Institutional International Trust |
The following is a summary of the variation margin of exchange-traded or centrally cleared financial derivative instruments of the Funds as of March 31, 2026 ($ Thousands):
| Financial Derivatives Assets | Financial Derivatives Liabilities | |||||||||||||||||||||||
| Variation Margin Asset | Variation Margin Liability | |||||||||||||||||||||||
| Fund | Futures | Swap Agreements | Total | Futures | Swap Agreements | Total | ||||||||||||||||||
| International Equity Fund | $ | 133 | $ | – | $ | 133 | $ | 109 | $ | – | $ | 109 | ||||||||||||
| Emerging Markets Equity Fund | 765 | – | 765 | – | – | – | ||||||||||||||||||
| International Fixed Income Fund | 52 | 403 | 455 | 116 | 359 | 475 | ||||||||||||||||||
| Emerging Markets Debt Fund | – | 5,767 | 5,767 | 17 | 5,194 | 5,211 | ||||||||||||||||||
Cash pledged as collateral for exchange-traded and centrally cleared derivative instruments as of March 31, 2026 amounted to $2,509 ($ Thousands) for the International Equity Fund. Cash pledged as collateral for exchange-traded and centrally cleared derivative instruments as of March 31, 2026 amounted to $651 ($ Thousands) for the Emerging Markets Equity Fund. Cash pledged as collateral for exchange-traded and centrally cleared derivative instruments as of March 31, 2026 amounted to $3,513 ($ Thousands) for the International Fixed Income Fund. Cash pledged as collateral for exchange-traded and centrally cleared derivative instruments as of March 31, 2026 amounted to $6,899 ($ Thousands) for the Emerging Markets Debt Fund.
International Swaps and Derivatives Association, Inc. Master Agreements and Credit Support Annexes (“ISDA Master Agreements”) govern OTC financial
derivative transactions entered into by a Fund and select counterparties. ISDA Master Agreements maintain provisions for general obligations, representations, agreements, collateral and events of default or termination. Events of termination include conditions that may entitle counterparties to elect to terminate early and cause settlement of all outstanding transactions under the applicable ISDA Master Agreement. Any election to terminate early could be material to the financial statements. In limited circumstances, the ISDA Master Agreement may contain additional provisions that add additional counterparty protection beyond coverage of existing daily exposure if the counterparty has a decline in credit quality below a predefined level. These amounts, if any, may be segregated with a third party custodian.
The following is a summary by derivative type of the market value of OTC financial derivative instruments and collateral (received)/pledged as of March 31, 2026 ($ Thousands):
| Financial Derivative Assets | Financial Derivative Liabilities | |||||||||||||||||||||||||||||||||||
| International Equity Fund | Forward Foreign Currency Contracts |
Swap Agreements |
Total Over the Counter |
Forward Foreign Currency Contracts |
Swap Agreements |
Total Over the Counter |
Net Market Value of OTC Derivatives |
Collateral (Received)/ Pledged* |
Net Exposures^ |
|||||||||||||||||||||||||||
| Bank of America | $ | – | $ | – | $ | – | $ | – | $ | 1,768 | $ | 1,768 | $ | (1,768 | ) | $ | – | $ | (1,768 | ) | ||||||||||||||||
| Total Over the Counter | $ | – | $ | – | $ | – | $ | – | $ | 1,768 | $ | 1,768 | ||||||||||||||||||||||||
| Financial Derivative Assets | Financial Derivative Liabilities | |||||||||||||||||||||||||||||||||||
| International Fixed Income Fund | Forward Foreign Currency Contracts | Swap Agreements | Total Over the Counter | Forward Foreign Currency Contracts | Swap Agreements | Total Over the Counter | Net Market Value of OTC Derivatives | Collateral (Received)/ Pledged* | Net Exposures^ | |||||||||||||||||||||||||||
| Bank of America | $ | 151 | $ | – | $ | 151 | $ | 58 | $ | – | $ | 58 | $ | 93 | $ | – | $ | 93 | ||||||||||||||||||
| Bank of Nova Scotia | – | – | – | 12 | – | 12 | (12 | ) | – | (12 | ) | |||||||||||||||||||||||||
| Barclays PLC | 212 | 1 | 213 | 177 | 1 | 178 | 35 | – | 35 | |||||||||||||||||||||||||||
| BNP Paribas | 142 | – | 142 | 111 | – | 111 | 31 | – | 31 | |||||||||||||||||||||||||||
| Brown Brothers Harriman | 68 | – | 68 | – | – | – | 68 | – | 68 | |||||||||||||||||||||||||||
| Citigroup | 278 | – | 278 | 369 | – | 369 | (91 | ) | – | (91 | ) | |||||||||||||||||||||||||
| Davenport & Company LLC | – | – | – | 47 | – | 47 | (47 | ) | – | (47 | ) | |||||||||||||||||||||||||
| Deutsche Bank | 143 | – | 143 | 41 | – | 41 | 102 | – | 102 | |||||||||||||||||||||||||||
| Goldman Sachs | 144 | – | 144 | 214 | – | 214 | (70 | ) | – | (70 | ) | |||||||||||||||||||||||||
| HSBC | 148 | – | 148 | 140 | 123 | 263 | (115 | ) | – | (115 | ) | |||||||||||||||||||||||||
| JPMorgan Chase Bank | 3,936 | – | 3,936 | 1,029 | – | 1,029 | 2,907 | – | 2,907 | |||||||||||||||||||||||||||
| SEI Institutional International Trust | 85 |
NOTES TO FINANCIAL STATEMENTS (Continued)
March 31, 2026 (Unaudited)
| Financial Derivative Assets | Financial Derivative Liabilities | |||||||||||||||||||||||||||||||||||
| International Fixed Income Fund | Forward Foreign Currency Contracts | Swap Agreements |
Total Over the Counter |
Forward Foreign Currency Contracts | Swap Agreements |
Total Over the Counter |
Net Market Value of OTC Derivatives | Collateral (Received)/ Pledged* | Net Exposures^ | |||||||||||||||||||||||||||
| Midland Walwyn Capital Inc. | $ | 710 | $ | – | $ | 710 | $ | – | $ | – | $ | – | $ | 710 | $ | – | $ | 710 | ||||||||||||||||||
| Morgan Stanley | 141 | – | 141 | 89 | – | 89 | 52 | – | 52 | |||||||||||||||||||||||||||
| NatWest Markets, Inc. | 664 | – | 664 | 40 | – | 40 | 624 | – | 624 | |||||||||||||||||||||||||||
| Nomura Securities | – | – | – | 11 | – | 11 | (11 | ) | – | (11 | ) | |||||||||||||||||||||||||
| RBS | 497 | – | 497 | – | – | – | 497 | – | 497 | |||||||||||||||||||||||||||
| Santander | 20 | – | 20 | – | – | – | 20 | – | 20 | |||||||||||||||||||||||||||
| Seaport Securities Corporation | – | – | – | 77 | – | 77 | (77 | ) | – | (77 | ) | |||||||||||||||||||||||||
| Skandinavisk Enskil | 6 | – | 6 | 32 | – | 32 | (26 | ) | – | (26 | ) | |||||||||||||||||||||||||
| Standard Chartered | 2 | – | 2 | 31 | – | 31 | (29 | ) | – | (29 | ) | |||||||||||||||||||||||||
| State Street | 14 | – | 14 | 48 | – | 48 | (34 | ) | – | (34 | ) | |||||||||||||||||||||||||
| TD Securities | 40 | – | 40 | 15 | – | 15 | 25 | – | 25 | |||||||||||||||||||||||||||
| UBS | 165 | – | 165 | 25 | – | 25 | 140 | – | 140 | |||||||||||||||||||||||||||
| Wachovia Securities, Inc. | 21 | – | 21 | – | – | – | 21 | – | 21 | |||||||||||||||||||||||||||
| Wells Fargo | 165 | – | 165 | 35 | – | 35 | 130 | – | 130 | |||||||||||||||||||||||||||
| Total Over the Counter | $ | 7,667 | $ | 1 | $ | 7,668 | $ | 2,601 | $ | 124 | $ | 2,725 | ||||||||||||||||||||||||
| Financial Derivative Assets | Financial Derivative Liabilities | |||||||||||||||||||||||||||||||||||
| Emerging Markets Debt Fund | Forward Foreign Currency Contracts | Swap Agreements |
Total Over the Counter |
Forward Foreign Currency Contracts | Swap Agreements |
Total Over the Counter |
Net Market Value of OTC Derivatives | Collateral (Received)/ Pledged* | Net Exposures^ | |||||||||||||||||||||||||||
| Bank of America | $ | 286 | $ | – | $ | 286 | $ | 415 | $ | 25 | $ | 440 | $ | (154 | ) | $ | – | $ | (154 | ) | ||||||||||||||||
| Barclays PLC | 172 | – | 172 | 79 | – | 79 | 93 | – | 93 | |||||||||||||||||||||||||||
| BNP Paribas | 46 | – | 46 | 10 | – | 10 | 36 | – | 36 | |||||||||||||||||||||||||||
| Citigroup | 33 | – | 33 | 41 | – | 41 | (8 | ) | – | (8 | ) | |||||||||||||||||||||||||
| Deutsche Bank | 1,048 | – | 1,048 | 731 | – | 731 | 317 | – | 317 | |||||||||||||||||||||||||||
| Goldman Sachs | 395 | – | 395 | 393 | – | 393 | 2 | – | 2 | |||||||||||||||||||||||||||
| HSBC | 88 | – | 88 | 196 | – | 196 | (108 | ) | – | (108 | ) | |||||||||||||||||||||||||
| ICBC Financial Services | 559 | – | 559 | 10 | – | 10 | 549 | – | 549 | |||||||||||||||||||||||||||
| JPMorgan Chase Bank | 3,031 | 557 | 3,588 | 2,261 | 32 | 2,293 | (1,295 | ) | – | (1,295 | ) | |||||||||||||||||||||||||
| Morgan Stanley | 593 | – | 593 | 510 | 130 | 640 | (47 | ) | – | (47 | ) | |||||||||||||||||||||||||
| Nomura Securities | – | – | – | 1 | – | 1 | (1 | ) | – | (1 | ) | |||||||||||||||||||||||||
| RBC | 6 | – | 6 | – | – | – | 6 | – | 6 | |||||||||||||||||||||||||||
| SCB Securities | 363 | – | 363 | 1099 | – | 1099 | (736 | ) | – | (736 | ) | |||||||||||||||||||||||||
| Societe Generale | 752 | – | 752 | 143 | – | 143 | 609 | – | 609 | |||||||||||||||||||||||||||
| Standard Bank | 186 | – | 186 | 233 | – | 233 | (47 | ) | – | (47 | ) | |||||||||||||||||||||||||
| TD Securities | – | – | – | 88 | – | 88 | (88 | ) | – | (88 | ) | |||||||||||||||||||||||||
| UBS | 8 | – | 8 | 29 | – | 29 | (21 | ) | – | (21 | ) | |||||||||||||||||||||||||
| Wells Fargo | 2 | – | 2 | 6 | – | 6 | (4 | ) | – | (4 | ) | |||||||||||||||||||||||||
| Total Over the Counter | $ | 7,568 | $ | 557 | $ | 8,125 | $ | 6,245 | $ | 187 | $ | 6,432 | ||||||||||||||||||||||||
| ^ | Net Exposures represents the net receivable/(payable) that would be due from/to the counterparty in the event of default. Exposure from OTC financial derivative instruments can only be netted across transactions governed under the same master agreement with the same legal entity. |
| * | Excess collateral pledged is not shown for financial reporting purposes. |
| 86 | SEI Institutional International Trust |
The following table discloses the average quarterly balances of the Funds’ derivative activity during the six months ended March 31, 2026 ($ Thousands):
| International Equity Fund | Emerging Markets Equity Fund | International Fixed Income Fund | Emerging Markets Debt Fund | |||||||||||||
| Futures Contracts: | ||||||||||||||||
| Average Notional Balance Long | $ | 30,530 | $ | 16,543 | $ | 55,996 | $ | – | ||||||||
| Average Notional Balance Short | – | – | 57,713 | 10,766 | ||||||||||||
| Forward Foreign Currency Contracts: | ||||||||||||||||
| Average Notional Balance Long | $ | 1,411 | $ | 1,928 | $ | 565,404 | $ | 475,034 | ||||||||
| Average Notional Balance Short | 1,413 | 1,929 | 563,846 | 573,480 | ||||||||||||
| Credit Default Swaps: | ||||||||||||||||
| Average Notional Balance Buy Protection | – | – | 23,233 | 30,100 | ||||||||||||
| Average Notional Balance Sell Protection | – | – | 800 | – | ||||||||||||
| Total Return Swaps | ||||||||||||||||
| Average Notional Balance Long | 104,816 | – | – | 2,769 | ||||||||||||
| Average Notional Balance Short | – | – | – | 6,450 | ||||||||||||
| Interest Rate Swaps | ||||||||||||||||
| Average Notional Balance | – | – | 45,708 | 294,938 | ||||||||||||
| Options/Swaptions: | ||||||||||||||||
| Average Notional Balance Long† | – | – | – | 1,078 | ||||||||||||
| Average Notional Balance Short† | – | – | – | 587 | ||||||||||||
| † | Represents cost. |
5. INVESTMENT ADVISORY, ADMINISTRATION AND DISTRIBUTION AGREEMENTS, INVESTMENT SUB-ADVISORY AGREEMENTS AND OTHER TRANSACTIONS WITH AFFILIATES
Investment Advisory, Administration and Distribution Agreements — SIMC serves as investment adviser (the “Adviser”) to each Fund. In connection with serving as Adviser, SIMC is entitled to a fee, which is calculated daily and paid monthly, based on the average daily net assets of each fund.
SEI Investments Global Funds Services (the “Administrator”) provides administrative and transfer agency services to the Funds for annual fees, based on the average daily net assets of each fund.
SEI Investments Distribution Co. (the “Distributor”) is the distributor of the shares of the Funds. The Funds have adopted a shareholder services plan and agreement (the Service Plan) with respect to Class F (formerly Class A) and Class I Shares that allows such shares to pay service providers a fee, based on average daily net assets of each respective Class of Shares, in connection with the ongoing servicing of shareholder accounts owning such shares. The International Equity Fund has also adopted an administrative services plan and agreement (the Administrative Service Plan) with respect to Class I Shares that allows such Shares to pay service providers a fee, based on average daily net assets of the Class I Shares, in connection with ongoing administrative services for shareholder accounts owning such Shares.
The Service Plan and Administrative Service Plan provide that shareholder service fees and administrative service fees, respectively, on Class F (formerly Class A) and Class I Shares will be paid to the Distributor, which may then be used by the Distributor to compensate financial intermediaries for providing shareholder services and administrative services, as applicable, with respect to the Shares.
The Adviser, Administrator and/or Distributor have voluntarily agreed to waive a portion of their fees in order to keep total direct operating expenses (exclusive of interest from borrowings, brokerage commissions, taxes, Trustees fees and extraordinary expenses not incurred in the ordinary course of the Funds’ business) at a specified level. The voluntary waivers by the Funds’ Adviser, Administrator and/or Distributor are limited to the Funds’ direct operating expenses and, therefore, do not apply to indirect expenses incurred by the Funds, such as acquired fund fees and expenses (AFFE). The waivers are voluntary and the Funds’ Adviser, Administrator and/or Distributor may discontinue all or part of any of these waivers at any time.
| SEI Institutional International Trust | 87 |
NOTES TO FINANCIAL STATEMENTS (Continued)
March 31, 2026 (Unaudited)
The following is a summary of annual fees payable to the Adviser and Distributor and the voluntary expense limitations for each Fund:
| Advisory
Fee |
Shareholder
Servicing Fee |
Administrative
Servicing Fee |
Voluntary Expense Limitation | |
| International Equity Fund | ||||
| Class F | 0.51% | 0.25% | – | 1.07% |
| Class I | 0.51% | 0.25% | 0.25% | 1.32% |
| Class Y | 0.51% | – | – | 0.82% |
| Emerging Markets Equity Fund | ||||
| Class F | 0.70% | 0.25% | – | 1.21% |
| Class Y | 0.70% | – | – | 0.96% |
| International Fixed Income Fund | ||||
| Class F | 0.30% | 0.25% | – | 0.96% |
| Class Y | 0.30% | – | – | 0.71% |
| Emerging Markets Debt Fund | ||||
| Class F | 0.60% | 0.25% | – | 1.02% |
| Class Y | 0.60% | – | – | 0.77% |
The following is a summary of the annual fees payable to the Administrator:
| First
$1.5 Billion of Assets |
Next
$500 Million of Assets |
Next
$500 Million of Assets |
Next
$500 Million of Assets |
Over
$3 Billion of Assets | |
| International Equity Fund | 0.380% | 0.340% | 0.280% | 0.235% | 0.200% |
| Emerging Markets Equity Fund | 0.380% | 0.340% | 0.280% | 0.235% | 0.200% |
| International Fixed Income Fund | 0.380% | 0.340% | 0.280% | 0.235% | 0.200% |
| Emerging Markets Debt Fund | 0.380% | 0.340% | 0.280% | 0.235% | 0.200% |
Investment Sub-Advisory Agreements — As of March 31, 2026, SIMC has entered into Investment Sub-Advisory Agreements with the following parties:
| Investment Sub-Adviser |
International Equity Fund
Acadian Asset Management LLC
Brown Advisory LLC
Lindsell Train Ltd.
Pzena Investment Management, LLC
Emerging Markets Equity Fund
Aikya Investment Management Limited
JOHCM (USA) Inc.
Robeco Institutional Asset Management US Inc.
International Fixed Income Fund
Ardea Investment Management Pty Ltd.
Colchester Global Investors Limited
RBC Global Asset Management (UK) Limited
Emerging Markets Debt Fund
Artisan Partners Limited Partnership
Colchester
Global Investors Limited
Grantham, Mayo, Van Otterloo & Co. LLC
Invesco Advisers, Inc.
Marathon Asset Management, L.P.
Under the investment sub-advisory agreements, each sub-adviser receives a fee, paid by SIMC.
Brokerage Commissions Paid to Affiliates — The Distributor may receive compensation on fund transactions effected for the Trust in accordance with the rules of the Securities and Exchange Commission
(“SEC”). Accordingly, it is expected that fund transactions may result in brokerage commissions being paid to the Distributor. The SEC rules require that such commissions not exceed usual and customary commissions.
Such commissions for the six months ended March 31, 2026, were as follows ($ Thousands):
| International Equity Fund | $ | 296 | ||
| Emerging Markets Equity Fund | 165 |
Fees Paid Indirectly — The Funds may direct certain fund trades to the Distributor who pays a portion of the Fund’s expenses. Accordingly, the expenses reduced, which were used to pay third party expenses, and the effect on the Fund’s expense ratio, as a percentage of the Fund’s average daily net assets for the six months ended March 31, 2026 can be found on the Statement of Operations and Financial Highlights, if applicable.
Investment in Affiliated Securities — The Funds may invest in the SEI Daily Income Trust Government Fund, an affiliated money market fund to manage excess cash or to serve as margin or collateral for derivative positions.
Payment to Affiliates — Certain Officers and Trustees of the Trust are also Officers and/or Directors of the Administrator, Adviser and/or the Distributor.
The Trust pays each unaffiliated Trustee an annual fee for attendance at quarterly, interim, and committee meetings. The Administrator or the Distributor pays compensation of Officers and affiliated Trustees.
| 88 |
SEI Institutional International Trust |
A portion of the services provided by the Chief Compliance Officer (“CCO”) and his staff, whom are employees of the Administrator, are paid for by the Trust as incurred. The services include regulatory oversight of the Trust’s Adviser, sub-advisers and service providers.
Interfund Lending — The SEC has granted an exemption that permits the Trust to participate in an interfund lending program (“The Program”) with existing or future investment companies registered under the 1940 Act that are advised by SIMC (the “SEI Funds”). The Program allows the SEI Funds to lend money to and borrow money from each other for temporary or emergency purposes. Participation in The Program is voluntary for
both borrowing and lending funds. Interfund loans may be made only when the rate of interest to be charged is more favorable to the lending fund than an investment in overnight repurchase agreements (“Repo Rate”), and more favorable to the borrowing fund than the rate of interest that would be charged by a bank for short-term borrowings (“Bank Loan Rate”). The Bank Loan Rate will be determined using a formula reviewed annually by the SEI Funds’ Board of Trustees. The interest rate imposed on interfund loans is the average of the Repo Rate and the Bank Loan Rate. As of and during the six months ended March 31, 2026, the Trust has not participated in the Program.
6. INVESTMENT TRANSACTIONS
The cost of security purchases and the proceeds from the sale of securities, other than temporary cash investments, during the six months ended March 31, 2026, were as follows:
| International Equity Fund ($ Thousands) |
Emerging Markets Equity Fund ($ Thousands) |
International Fixed Income Fund ($ Thousands) |
Emerging Markets Debt Fund ($ Thousands) |
|||||||||||||
| Purchases | ||||||||||||||||
| U.S. Government | $ | — | $ | — | $ | 68,600 | $ | 134 | ||||||||
| Other | 1,245,229 | 577,935 | 248,512 | 355,584 | ||||||||||||
| Sales | ||||||||||||||||
| U.S. Government | — | — | 52,998 | 134 | ||||||||||||
| Other | 1,647,424 | 764,212 | 261,938 | 372,281 | ||||||||||||
7. FEDERAL TAX INFORMATION:
It is each Fund’s intention to continue to qualify as a regulated investment company under Subchapter M of the Internal Revenue Code and distribute all of its taxable income (including net capital gains). Accordingly, no provision for Federal income taxes is required.
The Funds may be subject to taxes imposed by countries in which they invest with respect to their investments in issuers existing or operating in such countries. Such taxes are generally based on income earned. The Funds accrue such taxes when the related income is earned.
Dividends from net investment income and distributions from net realized capital gains are determined in accordance with U.S. Federal income tax regulations, which may differ from those amounts determined under U.S. GAAP. These book/tax differences are either temporary or permanent in nature. To the extent these differences are permanent, they are charged or credited to paid-in capital and distributable earnings, as appropriate, in the period that the differences arise.
The permanent differences are primarily attributable to different treatment for gains and losses on paydowns of mortgage and asset backed securities for tax purposes, defaulted bond basis adjustments, reclassification of long term capital gain distributions on REIT securities, reclassification of income and expense from swap transactions, gains and losses on passive foreign investment companies, certain foreign currency related transactions. The permanent difference that is charged or credited to Paid-in Capital and Distributable Earnings is primarily related to net operating losses and defaulted bond basis adjustments.
| Distributable Earnings (Loss) ($ Thousands) |
Paid-in Capital ($ Thousands) |
|||||||
| International Fixed Income Fund | $ | 3,070 | $ | (3,070 | ) | |||
| Emerging Markets Debt Fund | 927 | (927 | ) | |||||
These reclassifications had no impact on net assets or net asset value per share.
The tax character of dividends and distributions declared during the last two years were as follows:
|
SEI Institutional International Trust |
89 |
NOTES TO FINANCIAL STATEMENTS (Continued)
March 31, 2026 (Unaudited)
| Ordinary Income ($ Thousands) |
Long-term Capital Gain ($ Thousands) |
Total ($ Thousands) |
||||||||||||||
| International Equity Fund | 2025 | $ | 116,679 | $ | 250,181 | $ | 366,860 | |||||||||
| 2024 | 80,813 | — | 80,813 | |||||||||||||
| Emerging Markets Equity Fund | 2025 | 43,326 | — | 43,326 | ||||||||||||
| 2024 | 23,307 | — | 23,307 | |||||||||||||
| International Fixed Income Fund | 2025 | — | — | — | ||||||||||||
| 2024 | — | — | — | |||||||||||||
| Emerging Markets Debt Fund | 2025 | 62,939 | — | 62,939 | ||||||||||||
| 2024 | 62,318 | — | 62,318 | |||||||||||||
As of September 30, 2025, the components of Distributable Earnings (Accumulated Losses) were as follows:
| Undistributed Ordinary Income ($ Thousands) |
Undistributed Long-Term Capital Gain ($ Thousands) |
Capital Loss Carryforwards ($ Thousands) |
Post October Losses ($ Thousands) |
Late Year Ordinary Losses ($ Thousands) |
Unrealized Appreciation (Depreciation) ($ Thousands) |
Other Temporary Differences ($ Thousands) |
Total Distributable Earnings (Accumulated Losses) ($ Thousands) |
|||||||||||||||||||||||||
| International Equity Fund | $ | 207,260 | $ | 300,818 | $ | — | $ | — | $ | — | $ | 760,284 | $ | (2 | ) | $ | 1,268,360 | |||||||||||||||
| Emerging Markets Equity Fund | 51,887 | — | (12,712 | ) | — | — | 357,308 | (1 | ) | 396,482 | ||||||||||||||||||||||
| International Fixed Income Fund | — | — | (33,082 | ) | — | (5,962 | ) | (5,246 | ) | (5,894 | ) | (50,184 | ) | |||||||||||||||||||
| Emerging Markets Debt Fund | 11,981 | — | (265,634 | ) | — | — | 36,109 | (25,520 | ) | (243,064 | ) | |||||||||||||||||||||
Deferred Late-Year Losses represent ordinary losses realized on investment transactions from January 1, 2025 through September 30, 2025, and specified losses realized on investment transactions from November 1, 2024 through September 30, 2025, that, in accordance with Federal income tax regulations, the Fund defers and treats as having arisen in the following fiscal year.
For Federal income tax purposes, capital loss carryforwards may be carried forward and applied against future capital gains.
During the year ended September 30, 2025, the Emerging Markets Equity Fund utilized capital loss carryforwards of $85,187 to offset capital losses.
The Funds have capital losses carried forward as follows:
| Short-Term Loss ($ Thousands) |
Long-Term Loss ($ Thousands) |
Total ($ Thousands) |
||||||||||
| Emerging Markets Equity Fund | 12,712 | – | 12,712 | |||||||||
| International Fixed Income Fund | 9,872 | 23,210 | 33,082 | |||||||||
| Emerging Markets Debt Fund | 130,264 | 135,370 | 265,634 | |||||||||
For Federal income tax purposes, the cost of securities owned at March 31, 2026, and the net realized gains or losses on securities sold for the period were not materially different from amounts reported for financial reporting purposes. These differences are primarily due to investments in derivatives, passive foreign investment companies and wash sales which cannot be used for Federal income tax purposes in the current year and have been deferred for use in future years.
The aggregate gross unrealized appreciation and depreciation on total investments held by the Funds at March 31, 2026, was as follows:
| Federal Tax Cost ($ Thousands) |
Appreciated Securities ($ Thousands) |
Depreciated Securities ($ Thousands) |
Net Unrealized Appreciation/ (Depreciation) ($ Thousands) |
|||||||||||||
| International Equity Fund | $ | 2,835,434 | $ | 832,926 | $ | (72,642 | ) | $ | 760,284 | |||||||
| Emerging Markets Equity Fund | 1,221,317 | 484,815 | (127,507 | ) | 357,308 | |||||||||||
| International Fixed Income Fund | 366,481 | 13,678 | (18,924 | ) | (5,246 | ) | ||||||||||
| Emerging Markets Debt Fund | 868,361 | 56,561 | (20,452 | ) | 36,109 | |||||||||||
Management has analyzed the Funds’ tax positions taken on federal income tax returns for all open tax years and has concluded that as of March 31, 2026, no provision for income tax would be required in the Funds’ financial statements. The Funds’ federal and state income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state departments of revenue.
8. CONCENTRATION/RISKS
In the normal course of business, the Trust enters into contracts that provide general indemnifications by the Trust to the counterparty to the contract. The Trust’s maximum exposure under these arrangements is dependent on future claims that may be made against the Trust and, therefore, cannot be estimated; however, management believes that, based on experience, the risk of loss from such claims is considered remote.
| 90 |
SEI Institutional International Trust |
To the extent consistent with its Investment Strategy, a Fund may have one of more of the following principal risks:
Asset-Backed Securities Risk — Payment of principal and interest on asset-backed securities is dependent largely on the cash flows generated by the assets backing the securities. Securitization trusts generally do not have any assets or sources of funds other than the receivables and related property they own, and asset-backed securities are generally not insured or guaranteed by the related sponsor or any other entity. Asset-backed securities may be more illiquid than more conventional types of fixed-income securities that the Funds acquire.
Credit Risk — The risk that the issuer of a security or the counterparty to a contract will default or otherwise become unable to honor a financial obligation.
Currency Risk — As a result of a Fund’s investments in active positions in currencies and securities or other investments denominated in, and/or receiving revenues in, foreign currencies and the Fund’s active management of its currency exposures, the Fund will be subject to currency risk. Currency risk is the risk that foreign currencies will decline in value relative to the U.S. dollar or, in the case of hedging positions, that the U.S. dollar will decline in value relative to the currency hedged. In either event, the dollar value of an investment in the Fund would be adversely affected. Due to the Fund’s active positions in currencies, it will be subject to the risk that currency exchange rates may fluctuate in response to, among other things, changes in interest rates, intervention (or failure to intervene) by U.S. or foreign governments, central banks or supranational entities, or by the imposition of currency controls or other political developments in the United States or abroad.
Current Market Conditions Risk — Current market conditions risk is the risk that a particular investment, or shares of the Funds in general, may fall in value due to current market conditions. Although interest rates were unusually low in recent years in the U.S. and abroad, in 2022, the Federal Reserve and certain foreign central banks raised interest rates as part of their efforts to address rising inflation. The Federal Reserve and certain foreign central banks recently began to lower interest rates, though economic or other factors, such as inflation, could stop such changes. It is difficult to accurately predict the pace at which interest rates might change, the timing, frequency or magnitude of any such changes in interest rates, or when such changes might stop or again reverse course, Unexpected changes in interest rates could lead to significant market volatility or reduce liquidity in certain sectors of the market. The ongoing adversarial political climate in the United
States, as well as political and diplomatic events both domestic and abroad, have and may continue to have an adverse impact the U.S. regulatory landscape, markets and investor behavior, which could have a negative impact on the Fund’s investments and operations. Other unexpected political, regulatory and diplomatic events within the U.S. and abroad may affect investor and consumer confidence and may adversely impact financial markets and the broader economy. The economies of the United States and its trading partners, as well as the financial markets generally, may be adversely impacted by trade disputes and other matters. If geopolitical conflicts develop or worsen, economies, markets and individual securities may be adversely affected, and the value of the Funds' assets may go down. The COVID-19 global pandemic, or any future public health crisis, and the ensuing policies enacted by governments and central banks have caused and may continue to cause significant volatility and uncertainty in global financial markets, negatively impacting global growth prospects. Advancements in technology may also adversely impact markets and the overall performance of the Funds.
Foreign Investment/Emerging Markets Risk — The risk that non-U.S. securities may be subject to additional risks due to, among other things, political, social and economic developments abroad, currency movements and different legal, regulatory, tax, accounting and audit environments. These additional risks may be heightened with respect to emerging market countries because political turmoil and rapid changes in economic conditions are more likely to occur in these countries. Investments in emerging markets are subject to the added risk that information in emerging market investments may be unreliable or outdated due to differences in regulatory, accounting or auditing and financial record keeping standards, or because less information about emerging market investments is publicly available. In addition, the rights and remedies associated with emerging market investments may be different than investments in developed markets. A lack of reliable information, rights and remedies increase the risks of investing in emerging markets in comparison to more developed markets. In addition, periodic U.S. Government restrictions on investments in issuers from certain foreign countries may require the Fund to sell such investments at inopportune times, which could result in losses to the Fund.
Interest Rate Risk — The risk that a change in interest rates will cause a fall in the value of fixed income securities, including U.S. Government securities, in which the Fund invests. Generally, the value of the Fund’s fixed income securities will vary inversely with the direction of prevailing interest rates. Changing interest rates may have unpredictable effects on the markets and may affect the value of liquidity of instruments held by the Fund. Although U.S. Government securities are considered to be among the safest investments, they are not guaranteed against price movements due to changing interest rates.
| SEI Institutional International Trust | 91 |
NOTES TO FINANCIAL STATEMENTS (Concluded)
March 31, 2026 (Unaudited)
Market Risk — The risk that the market value of a security may move up and down, sometimes rapidly and unpredictably. Market risk may affect a single issuer, an industry, a sector or the equity or bond market as a whole. Equity markets may decline significantly in response to adverse issuer, political, regulatory, market, economic or other developments that may cause broad changes in market value, public perceptions concerning these developments, and adverse investor sentiment or publicity. Similarly, environmental and public health risks, such as natural disasters, epidemics, pandemics or widespread fear that such events may occur, may impact markets adversely and cause market volatility in both the short- and long-term. The prices of the Fund’s fixed income securities respond to economic developments, particularly interest rate changes, as well as to perceptions about the creditworthiness of individual issuers, including governments and their agencies. Generally, the Fund’s fixed income securities will decrease in value if interest rates rise and vice versa. In a low interest rate environment, risks associated with rising rates are heightened. Declines in dealer market-making capacity as a result of structural or regulatory changes could further decrease liquidity and/or increase volatility in the fixed income markets. Markets for fixed income securities may decline significantly in response to adverse issuer, political, regulatory, market, economic or other developments that may cause broad changes in market value, public perceptions concerning these developments, and adverse investor sentiment or publicity. Similarly, environmental and public health risks, such as natural disasters, epidemics, pandemics or widespread fear that such events may occur, may impact markets adversely and cause market volatility in both the short- and long-term. In response to these events, the Fund’s value may fluctuate and/or the Fund may experience increased redemptions from shareholders, which may impact the Fund’s liquidity or force the Fund to sell securities into a declining or illiquid market.
Mortgage-Backed Securities Risk — Mortgage-backed securities are affected significantly by the rate of prepayments and modifications of the mortgage loans backing those securities, as well as by other factors such as borrower defaults, delinquencies, realized or liquidation losses and other shortfalls. Mortgage-backed securities are particularly sensitive to prepayment risk, which is described below, given that the term to maturity for mortgage loans is generally substantially
longer than the expected lives of those securities; however, the timing and amount of prepayments cannot be accurately predicted. The timing of changes in the rate of prepayments of the mortgage loans may significantly affect the Funds’ actual yield to maturity on any mortgage-backed securities, even if the average rate of principal payments is consistent with the Funds’ expectation. Along with prepayment risk, mortgage-backed securities are significantly affected by interest rate risk, which is described above. In a low interest rate environment, mortgage loan prepayments would generally be expected to increase due to factors such as refinancing and loan modifications at lower interest rates. In contrast, if prevailing interest rates rise, prepayments of mortgage loans would generally be expected to decline and therefore extend the weighted average lives of mortgage-backed securities held or acquired by the Funds.
Please refer to each Fund’s current prospectus for additional disclosure regarding the risks associated with investing in the Funds. The foregoing is not intended to be a complete discussion of the risks associated with the investment strategies of the Funds.
9. CONCENTRATION OF SHAREHOLDERS
SEI Private Trust Company (“SPTC”) and SIMC are subsidiaries of SEI Investments Company. As of March 31, 2026, SPTC held of record the following:
| Fund | Class F | Class I | Class Y |
| International Equity Fund | 92.89% | 0.36% | 56.83% |
| Emerging Markets Equity Fund | 95.07% | –% | 64.53% |
| International Fixed Income Fund | 97.72% | –% | 98.96% |
| Emerging Markets Debt Fund | 96.54% | –% | 69.84% |
SPTC is not a direct service provider to the SEI Funds. However, SPTC performs a role in the comprehensive investment solution that SEI provides to investors. SPTC holds shares in the Funds as custodian for shareholders that are clients of independent registered investment advisers, financial planners, bank trust departments and other financial advisers. SPTC maintains omnibus accounts at the Fund’s transfer agent.
10. SEGMENT REPORTING
The Funds adopted the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) 2023-07, Segment Reporting (Topic 280) – “Improvements to Reportable Segment Disclosures” (“ASU 2023-07”). Adoption of this standard impacted financial statement disclosures only and did not affect the Funds’ financial position or the results of its operations. An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses, has operating results that are regularly reviewed by the public entity’s chief operating decision maker (“CODM”) to make decisions about resources to be allocated to the segment and assess its performance, and has discrete financial information available. The Fund’s Chief Financial Officer serves as the CODM. The CODM reviews Fund level financial information, including total returns, expense ratios, changes in net assets, schedules of investments, and other performance and profitability reports, to assess the Fund’s operating results. Each Fund is structured as an investment company and represents a single operating segment. Segment assets are reflected on the accompanying Statements of Assets and Liabilities as “Total Assets” and significant segment expenses are listed on the accompanying Statements of Operations.
| 92 | SEI Institutional International Trust |
11. RECENT ACCOUNTING PRONOUNCEMENT
In December 2023, the FASB issued Accounting Standards Update 2023-09 (“ASU 2023-09”), Income Taxes (Topic 740) Improvements to Income Tax Disclosures, which amends quantitative and qualitative income tax disclosure requirements in order to increase disclosure consistency, bifurcate income tax information by jurisdiction and remove information that is no longer beneficial. ASU 2023-09 is effective for annual periods beginning after December 15, 2024, and early adoption is permitted. Management is evaluating the impact of these changes on the Funds’ financial statements.
12. SUBSEQUENT EVENTS
Management has evaluated the need for disclosures and/or adjustments resulting from subsequent events through the date the financial statements were issued. Based on this evaluation, no disclosure and/or adjustments were required to the financial statements as of March 31, 2026.
| SEI Institutional International Trust | 93 |
OTHER INFORMATION (FORM N-CSRS ITEMS 8-11) (Unadited)
Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.
Not applicable.
Item 9. Proxy Disclosures for Open-End Management Investment Companies.
Not applicable.
Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.
The remuneration paid by the company during the period covered by the report to the Trustees on the company’s Board of Trustees is disclosed within the Statement(s) of Operations of the financial statements (Item 7).
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.
SEI Institutional International Trust (the “Trust”) and SEI Investments Management Corporation (“SIMC”) have entered into an investment advisory agreement (the “Advisory Agreement”), pursuant to which SIMC provides investment advisory services to the series of the Trust (the “Funds”). Pursuant to separate sub-advisory agreements with SIMC (the “Sub-Advisory Agreements” and, together with the Advisory Agreement, the “Investment Advisory Agreements”), and under the supervision of SIMC and the Trust’s Board of Trustees (each member, a “Trustee” and, collectively, the “Trustees” or the “Board”), the sub-advisers (each, a “Sub-Adviser” and collectively, the “Sub-Advisers”) provide security selection and certain other advisory services with respect to all or a discrete portion of the assets of the Funds. The Sub-Advisers are also responsible for managing their employees who provide services to the Funds. The Sub-Advisers are selected based primarily upon the research and recommendations of SIMC, which evaluates quantitatively and qualitatively the Sub-Advisers’ skills and investment results in managing assets for specific asset classes, investment styles and strategies.
The Investment Company Act of 1940, as amended (the “1940 Act”), requires that the initial approval of a Fund’s Investment Advisory Agreements be specifically approved by the vote of a majority of the outstanding shareholders of the Funds and the vote of a majority of the Trustees who are not parties to the Investment Advisory Agreements or “interested persons” of any party (the “Independent Trustees”) cast in person (or otherwise, as consistent with applicable laws, regulations and related guidance and relief) at a meeting called for such purpose. In addition, the 1940 Act requires that the continuation or renewal of any Investment Advisory Agreement be approved at least annually (after an initial period of up to two years), which also requires the vote of a majority of the Board, including a majority of the Independent Trustees. In the case of the initial approval of a Sub-Advisory Agreement, only the approval of a majority of the Board, including a majority of the Independent Trustees, is required, pursuant to an exemptive order that has been granted to the Trust by the Securities and Exchange Commission. In connection with their consideration of such initial approvals and renewals, the Funds’ Trustees must request and evaluate, and SIMC and the Sub-Advisers are required to furnish, such information as may be reasonably necessary to evaluate the terms of the Investment Advisory Agreements. In addition, the Securities and Exchange Commission takes the position that, as part of their fiduciary duties with respect to a mutual fund’s fees, mutual fund boards are required to evaluate the material factors applicable to a decision to approve or renew an Investment Advisory Agreement.
Consistent with these responsibilities, the Board calls and holds meetings each year to consider whether to approve new and/or renew existing Investment Advisory Agreements between the Trust and SIMC and SIMC and the Sub-Advisers with respect to the Funds of the Trust. In preparation for these meetings, the Board requests and reviews a wide variety of materials provided by SIMC and the Sub-Advisers, including information about SIMC’s and the Sub-Advisers’ affiliates, personnel and operations and the services provided pursuant to the Investment Advisory Agreements. The Board also receives data from third parties. This information is provided in addition to the detailed information about the Funds that the Board reviews during the course of each year, including information that relates to Fund operations and Fund performance. The Trustees also receive a memorandum from counsel regarding the responsibilities of Trustees in connection with their consideration of whether to approve or renew the Trust’s Investment Advisory Agreements. Finally, the Independent Trustees receive advice from independent counsel to the Independent Trustees, meet in executive sessions outside the presence of Fund management and participate in question and answer sessions with representatives of SIMC and the Sub-Advisers.
Specifically, during the first half of the Trust’s fiscal year, the Board requested and received written materials from SIMC and certain Sub-Advisers regarding: (i) the quality of SIMC’s and the Sub-Advisers’ investment management and other services; (ii) SIMC’s and the Sub-Advisers’ investment management personnel; (iii) SIMC’s and the Sub-Advisers’ operations and financial condition; (iv) SIMC’s and the Sub-Advisers’ brokerage practices (including any soft dollar arrangements) and investment strategies; (v) the level of the advisory fees that SIMC charges the Funds and the level of the sub-advisory fees that SIMC pays the Sub-Advisers, compared with fees each charge to comparable accounts; (vi) the advisory fees charged by SIMC and the Funds’ overall fees and operating expenses compared with peer groups of mutual funds prepared by Broadridge, an independent provider of investment company data that was engaged to prepare an assessment of the Funds in connection with the renewal of the Investment Advisory Agreements (the “Broadridge Report”); (vii) the level of SIMC’s and the Sub-Advisers’ profitability from their Fund-related operations; (viii) SIMC’s and the Sub-Advisers’ compliance program, including a description of material compliance matters and material compliance violations; (ix) SIMC’s potential economies of scale; (x) SIMC’s and the Sub-Advisers’ policies on and compliance procedures for personal securities transactions; (xi) SIMC’s and the Sub-Advisers’ expertise and resources in domestic and/or international financial markets; and (xii) the Funds’ performance over various periods of time compared with peer groups of mutual funds prepared by Broadridge and the Funds’ benchmark indexes.
| 94 | SEI Institutional International Trust |
At the December 8-10, 2025 meeting of the Board, certain Sub-Advisory Agreements were either initially approved or renewed by the Trustees, including a majority of the Independent Trustees. In addition, the Board approved a brief extension of the Advisory Agreement and certain Sub-Advisory Agreements already in effect (unless operating under an initial two-year term) to accommodate a revised Spring meeting schedule. Typically, the Trustees renew the Advisory Agreement and certain Sub-Advisory Agreements at the first quarterly in-person meeting of the calendar year in March. Agreements regularly renewed at the March meeting expire on April 1 of the following year. Because the first quarterly in-person meeting of the Board in calendar year 2026 was held on March 31-April 2, 2026, the Advisory Agreement and certain Sub-Advisory Agreements would have expired prior to the meeting, without the extension. Accordingly, the Board voted in-person at the December 8-10, 2025 meeting to extend the Advisory Agreement and certain Sub-Advisory Agreements until the March 31-April 2, 2026 meeting. In evaluating whether to approve the extension of the Advisory Agreement and certain Sub-Advisory Agreements, the Board considered the information made available to it throughout the course of the year by representatives of the SEI investment and compliance teams. At the March 31-April 2, 2026 meeting, the Board evaluated the Advisory Agreement and the applicable Sub-Advisory Agreements in accordance with the renewal process that it typically applies during the annual contract renewal each Spring. Additionally, at the March 31-April 2, 2026 meeting of the Board, certain Sub-Advisory Agreements were initially approved by the Trustees, including a majority of the Independent Trustees. Although outside the scope of the period covered by this report, the Board’s renewal of the Advisory Agreement and the renewal or approval of applicable Sub-Advisory Agreements at the March 31-April 2, 2026 meeting of the Board is discussed herein, consistent with prior shareholder reports of the Funds. The Board’s approvals were based on its consideration and evaluation of the factors described above, as discussed at the meeting and at prior meetings, such as the December 8-10, 2025 meeting. In each case, the Board’s renewal, or initial approval, was based on its consideration and evaluation of the factors described above, as discussed at the meetings and at prior meetings, as applicable. The following discusses some, but not all, of the factors that were considered by the Board in connection with its assessment of the Advisory Agreement and the applicable Sub-Advisory Agreements.
Nature, Extent and Quality of Services. The Board considered the nature, extent and quality of the services provided by SIMC and the Sub-Advisers to the Funds and the resources of SIMC and the Sub-Advisers and their affiliates dedicated to the Funds. In this regard, the Trustees evaluated, among other things, SIMC’s and each Sub-Adviser’s personnel, experience, track record and compliance program. Following evaluation, the Board concluded that, within the context of its full deliberations, the nature, extent and quality of services provided by SIMC and the Sub-Advisers to the Funds and the resources of SIMC and the Sub-Advisers and their affiliates dedicated to the Funds were sufficient to support the renewal of the Investment Advisory Agreements. In addition to advisory services, the Board considered the nature and quality of certain administrative, transfer agency and other non-investment advisory services provided to the Funds by SIMC and/or its affiliates.
Performance. In determining whether to renew SIMC’s Advisory Agreement, the Trustees considered the Funds’ performance relative to their peer groups and appropriate indexes/benchmarks. The Trustees reviewed performance information for each Fund, noting that they receive performance reports that permit them to monitor each Fund’s performance at board meetings throughout the year. As part of this review, the Trustees considered the composition of each peer group and selection criteria. In assessing Fund performance, the Trustees considered the Broadridge Report. The Broadridge Report included metrics on risk analysis, volatility versus total return, net total return and performance consistency for the Funds and a universe of comparable funds. Based on the materials considered and discussed at the meetings, the Trustees found Fund performance satisfactory, or, where performance was materially below the benchmark and/or peer group, the Trustees were satisfied with the reasons provided to explain such performance. In connection with the renewal of Sub-Advisory Agreements, the Board considered the performance of the Sub-Adviser relative to appropriate indexes/benchmarks. Following evaluation, the Board concluded that, within the context of its full deliberations, the performance of the Funds was sufficient to support the renewal of SIMC’s Advisory Agreement, and the performance of each Sub-Adviser was sufficient to support the renewal of the Sub-Advisory Agreement.
| SEI Institutional International Trust | 95 |
OTHER INFORMATION (FORM N-CSRS ITEMS 8-11) (Unadited) (Concluded)
Fees. With respect to the Funds’ expenses under the Investment Advisory Agreements, the Trustees considered the rate of compensation called for by the Investment Advisory Agreements and the Funds’ net operating expense ratios in comparison to those of the Funds’ respective peer groups. In assessing Fund expenses, the Trustees considered the information in the Broadridge Report, which included various metrics related to fund expenses, including, but not limited to, contractual management fees at various asset levels, actual management fees (including transfer agent expenses), and actual total expenses for the Funds and a universe of comparable funds. Based on the materials considered and discussion at the meetings, the Trustees further determined that fees were either shown to be below the peer average in the comparative fee analysis, or that there was a reasonable basis for the fee level. The Trustees also considered the effects of SIMC’s and its affiliates’ voluntary waivers of management and other fees to prevent total Fund operating expenses from exceeding any applicable cap and concluded that SIMC, through waivers, has maintained the Funds’ net operating expenses at competitive levels for its distribution channels. In determining the appropriateness of fees, the Board also took into consideration the impact of fees incurred indirectly by the Funds as a result of investments into underlying funds, including funds from which SIMC or its affiliates earn fees. The Board also took into consideration compensation earned from the Funds by SIMC or its affiliates for non-advisory services, such as administration, transfer agency, shareholder services or brokerage, and considered whether SIMC and its affiliates may have realized other benefits from their relationship with the Funds, such as any research and brokerage services received under soft dollar arrangements. When considering fees paid to Sub-Advisers, the Board took into account the fact that the Sub-Advisers are compensated by SIMC and not by the Funds directly, and that such compensation with respect to any unaffiliated Sub-Adviser reflects an arms-length negotiation between the Sub-Adviser and SIMC. Following evaluation, the Board concluded that, within the context of its full deliberations, the expenses of the Funds are reasonable and supported the renewal of the Investment Advisory Agreements. The Board also considered whether the Sub-Advisers and their affiliates may have realized other benefits from their relationship with the Funds, such as any research and brokerage services received under soft dollar arrangements.
Profitability. With regard to profitability, the Trustees considered compensation flowing to SIMC and the Sub-Advisers and their affiliates, directly or indirectly. The Trustees considered whether the levels of compensation and profitability were reasonable. As with the fee levels, when considering the profitability of the Sub-Advisers, the Board took into account the fact that compensation with respect to any unaffiliated Sub-Adviser reflects an arms-length negotiation between the Sub-Adviser and SIMC. In connection with the renewal of each Sub-Advisory Agreement, the Board also took into consideration the impact that the fees paid to the Sub-Adviser have on SIMC’s advisory fee margin and profitability. Based on this evaluation, the Board concluded that, within the context of its full deliberations, the profitability of each of SIMC and the Sub-Advisers is reasonable and supported the renewal of the Investment Advisory Agreements.
Economies of Scale. With respect to the Advisory Agreement, the Trustees considered whether any economies of scale were being realized by SIMC and its affiliates and, if so, whether the benefits of such economies of scale were passed along to the Funds’ shareholders through a graduated investment advisory fee schedule or other means, including any fee waivers by SIMC and its affiliates. The Trustees recognized that economies of scale are difficult to identify and quantify and are rarely identifiable on a fund-by-fund basis. Based on this evaluation, the Board determined that the fees were reasonable in light of the information that was provided by SIMC with respect to economies of scale.
Based on the Trustees’ deliberation and their evaluation of the information described above, the Board, including all of the Independent Trustees, with the assistance of Fund counsel and Independent Trustees’ counsel, unanimously approved the renewal of the Investment Advisory Agreements and concluded that the compensation under the Investment Advisory Agreements is fair and reasonable in light of such services and expenses and such other matters as the Trustees considered to be relevant in the exercise of their reasonable judgment. In the course of its deliberations, the Board did not identify any particular factor (or conclusion with respect thereto) or single piece of information that was all-important, controlling or determinative of its decision, but considered all of the factors together, and each Trustee may have attributed different weights to the various factors (and conclusions with respect thereto) and information.
| 96 | SEI Institutional International Trust |
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SEI INSTITUTIONAL INTERNATIONAL TRUST / SEMI-ANNUAL REPORT / MARCH 31, 2026
Trustees
Robert A. Nesher, Chairman
Dennis McGonigle
Nina Lesavoy
James M. Williams
Susan C. Cote
James B. Taylor
Christine Reynolds
Thomas Melendez
Kimberly Walker
Eli Powell Niepoky
Officers
Robert A. Nesher
President and Chief Executive Officer
Glenn R. Kurdziel
Controller and Chief Financial Officer
Stephen Panner
Chief Compliance Officer
Timothy D. Barto
Vice President and Secretary
David F. McCann
Vice President and Assistant Secretary
Katherine Mason
Vice President and Assistant Secretary
Stephen G. MacRae
Vice President
Marci Morgan
Anti-Money Laundering Compliance Officer and Privacy Officer
Investment Adviser
SEI Investments Management Corporation
Administrator
SEI Investments Global Funds Services
Distributor
SEI Investments Distribution Co.
Legal Counsel
Morgan, Lewis & Bockius LLP
Independent Registered Public Accounting Firm
KPMG LLP
This report and the financial statements contained herein are submitted for the general information of the shareholders of the Trust and must be preceded or accompanied by a current prospectus. Shares of the Funds are not deposits or obligations of, or guaranteed or endorsed by, any bank. The shares are not federally insured by the Federal Deposit Insurance Corporation (FDIC), the Federal Reserve Board, or any other government agency. Investment in the shares involves risk, including the possible loss of principal.
For more information call
1 800 DIAL SEI
(1 800 342 5734)
|
1 Freedom Valley Drive P.O. Box 1100 Oaks, Pennsylvania 19456 |
SEI-F-018 (9/25)
| Item 8. | Changes in and Disagreements with Accountants for Open-End Management Investment Companies. |
Included under item 7.
| Item 9. | Proxy Disclosures for Open-End Management Investment Companies. |
Included under item 7.
| Item 10. | Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies. |
Included under item 7.
| Item 11. | Statement Regarding Basis for Approval of Investment Advisory Contract. |
Included under item 7.
| Item 12. | Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies. |
Not applicable to open-end management investment companies.
| Item 13. | Portfolio Managers of Closed-End Management Investment Companies. |
Not applicable to open-end management investment companies.
| Item 14. | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers. |
Not applicable to open-end management investment companies.
| Item 15. | Submission of Matters to a Vote of Security Holders. |
There have been no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s Board of Trustees (the “Board”). The Registrant has a standing Governance Committee (the “Committee”) currently consisting of the Independent Trustees. The Committee is responsible for evaluating and recommending nominees for election to the Board. Pursuant to the Committee’s Charter, adopted on June 18, 2004, as amended, the Committee will review all shareholder recommendations for nominations to fill vacancies on the Board if such recommendations are submitted in writing and addressed to the Committee at the Registrant’s office.
| Item 16. | Controls and Procedures. |
(a) The Registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “1940 Act”) are effective based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 as of a date within 90 days of the filing date of this report.
(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting.
| Item 17. | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies. |
Not applicable to open-end management investment companies.
| Item 18. | Recovery of Erroneously Awarded Compensation. |
(a) Not applicable.
(b) Not applicable.
| Item 19. | Exhibits. |
(a)(1) Not applicable for semi-annual report.
(a)(2) Not applicable for semi-annual report.
(a)(4) Not applicable.
(a)(5) Not applicable.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| SEI Institutional International Trust | ||
| By: | /s/ Robert A. Nesher | |
| Robert A. Nesher | ||
| President & CEO | ||
| (Principal Executive Officer) |
Date: June 5, 2026
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
| By: | /s/ Robert A. Nesher | |
| Robert A. Nesher | ||
| President & CEO | ||
| (Principal Executive Officer) |
Date: June 5, 2026
| By: | /s/ Glenn R. Kurdziel | |
| Glenn R. Kurdziel | ||
| Controller & CFO | ||
| (Principal Financial Officer) |
Date: June 5, 2026