BNY Mellon Emerging Markets Equity ETF
SCHEDULE OF INVESTMENTS
July 31, 2026 (Unaudited)

 
Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2%
Australia — .0%
MMG Ltd.(a),(b)
24,000
25,679
Yancoal Australia Ltd.
2,693
10,535
 
36,214
Brazil — 2.9%
Ambev SA
30,356
95,358
Axia Energia SA
9,180
95,817
B3 SA - Brasil Bolsa Balcao
35,724
110,604
Banco Bradesco SA
10,117
31,741
Banco BTG Pactual SA
8,276
92,376
Banco do Brasil SA
11,546
48,269
Banco Santander Brasil SA
2,297
12,980
BB Seguridade Participacoes SA
4,756
38,474
Caixa Seguridade Participacoes SA
4,320
17,176
Cia de Saneamento Basico do Estado de Sao Paulo
17,772
96,369
Cia Paranaense de Energia - Copel
10,073
29,442
CPFL Energia SA
1,324
12,026
CSN Mineracao SA
3,408
3,844
Embraer SA
4,733
81,075
Energisa SA
2,008
19,736
Eneva SA(a)
6,567
34,123
Engie Brasil Energia SA
1,946
11,414
Equatorial SA
8,766
66,616
Itau Unibanco Holding SA
4,014
36,066
Klabin SA
6,801
24,430
Localiza Rent a Car SA
6,259
46,542
Motiva Infraestrutura de Mobilidade SA
7,603
22,058
NU Holdings Ltd., Cl. A(a)
26,487
379,559
Petroleo Brasileiro SA
25,851
250,387
Porto Seguro SA
783
8,469
PRIO SA(a)
5,669
68,120
Raia Drogasil SA
8,815
32,236
Rede D’Or Sao Luiz SA(c)
4,557
30,917
Rumo SA
8,036
22,808
StoneCo Ltd., Cl. A
1,647
18,735
Suzano SA
4,836
41,291
Telefonica Brasil SA
4,780
30,812
TIM SA
5,600
21,372
TOTVS SA
3,394
20,796
Ultrapar Participacoes SA
5,177
33,595
Vale SA
27,230
409,148
Vibra Energia SA
8,321
58,944
WEG SA
10,427
97,361
XP, Inc., Cl. A
2,563
43,725
 
2,594,811
Canada — .0%
China Gold International Resources Corp. Ltd.
1,600
35,891
Chile — .4%
Banco de Chile
290,107
60,526
3

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
Chile — .4% (continued)
Banco de Credito e Inversiones SA
673
48,492
Banco Itau Chile SA
280
6,333
Banco Santander Chile
379,113
33,070
Cencosud SA
9,100
19,160
Cencosud Shopping SA
5,241
13,180
Empresas CMPC SA
13,539
15,384
Empresas Copec SA
2,991
20,456
Enel Americas SA
105,123
9,962
Enel Chile SA
195,998
17,308
Falabella SA
8,416
56,344
Latam Airlines Group SA
2,421,633
64,526
Plaza SA
2,976
12,084
Quinenco SA
1,984
9,530
 
386,355
China — 18.5%
360 Security Technology, Inc., Cl. A
3,300
4,563
37 Interactive Entertainment Network Technology Group Co. Ltd., Cl. A
1,500
4,426
3SBio, Inc.(c)
14,500
30,917
AAC Technologies Holdings, Inc.
6,000
29,489
Accelink Technologies Co. Ltd., Cl. A(a)
600
14,374
Advanced Micro-Fabrication Equipment, Inc. China, Cl. A
506
25,797
AECC Aero-Engine Control Co. Ltd., Cl. A
1,600
4,297
AECC Aviation Power Co. Ltd., Cl. A
1,600
8,233
Agricultural Bank of China Ltd., Cl. A
39,200
40,086
Agricultural Bank of China Ltd., Cl. H
216,000
173,811
Aier Eye Hospital Group Co. Ltd., Cl. A
4,200
5,652
Air China Ltd., Cl. A(a)
3,600
3,335
Air China Ltd., Cl. H(a)
18,000
9,802
Aisino Corp., Cl. A(a)
2,700
2,797
Akeso, Inc.(a),(c)
4,000
47,924
Aluminum Corp. of China Ltd., Cl. A
7,700
10,921
Aluminum Corp. of China Ltd., Cl. H
28,000
30,208
Amlogic Shanghai Co. Ltd., Cl. A
132
1,905
Andon Health Co. Ltd., Cl. A
800
8,117
Angang Steel Co. Ltd., Cl. A(a)
11,900
3,615
Angel Yeast Co. Ltd., Cl. A
500
3,106
Anhui Conch Cement Co. Ltd., Cl. A
1,800
4,951
Anhui Conch Cement Co. Ltd., Cl. H
8,000
18,863
Anhui Expressway Co. Ltd., Cl. H
4,000
7,988
Anhui Gujing Distillery Co. Ltd., Cl. A
200
2,814
Anhui Gujing Distillery Co. Ltd., Cl. B
800
6,467
Anhui Jianghuai Automobile Group Corp. Ltd., Cl. A(a)
800
3,115
Anhui Kouzi Distillery Co. Ltd., Cl. A
600
1,853
Anhui Tongguan Copper Foil Group Co. Ltd., Cl. A
200
2,449
Anhui Yingjiagongjiu Co. Ltd., Cl. A
700
4,032
Anjoy Foods Group Co. Ltd., Cl. H
500
4,795
Anker Innovations Technology Co. Ltd., Cl. A
320
5,786
ANTA Sports Products Ltd.
8,400
84,572
Ascentage Pharma Group International(a),(c)
1,800
7,759
Asia - Potash International Investment Guangzhou Co. Ltd., Cl. A
300
2,306
ASR Microelectronics Co. Ltd., Cl. A(a)
112
1,555
4


Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
China — 18.5% (continued)
Asymchem Laboratories Tianjin Co. Ltd., Cl. A
240
5,430
Asymchem Laboratories Tianjin Co. Ltd., Cl. H(c)
140
1,987
Atour Lifestyle Holdings Ltd., ADR
476
16,341
Autohome, Inc., ADR
242
5,619
Avary Holding Shenzhen Co. Ltd., Cl. A
900
10,871
AviChina Industry & Technology Co. Ltd., Cl. H
18,000
6,909
BAIC BluePark New Energy Technology Co. Ltd., Cl. A(a)
3,500
3,123
BAIC Foton Motor Co. Ltd., Cl. A(a)
6,800
3,174
Baidu, Inc., Cl. A(a)
15,150
204,599
Baiyin Nonferrous Group Co. Ltd., Cl. A(a)
2,400
1,775
Bank of Beijing Co. Ltd., Cl. A
8,800
6,808
Bank of Changsha Co. Ltd., Cl. A
3,300
4,661
Bank of Chengdu Co. Ltd., Cl. A
2,400
6,580
Bank of China Ltd., Cl. A
17,300
15,537
Bank of China Ltd., Cl. H
467,000
328,143
Bank of Chongqing Co. Ltd., Cl. A
3,700
6,262
Bank of Communications Co. Ltd., Cl. A
22,700
24,155
Bank of Communications Co. Ltd., Cl. H
46,000
44,348
Bank of Guiyang Co. Ltd., Cl. A
1,300
1,114
Bank of Hangzhou Co. Ltd., Cl. A
2,800
6,826
Bank of Jiangsu Co. Ltd., Cl. A
9,200
16,130
Bank of Nanjing Co. Ltd., Cl. A
5,900
10,169
Bank of Ningbo Co. Ltd., Cl. A
3,300
15,591
Bank of Shanghai Co. Ltd., Cl. A
3,300
4,622
Bank of Suzhou Co. Ltd., Cl. A
3,600
4,530
Baoshan Iron & Steel Co. Ltd., Cl. A
10,700
9,721
BBMG Corp., Cl. H
63,000
4,740
Beijing Capital Eco-Environment Protection Group Co. Ltd., Cl. A
8,700
3,804
Beijing Compass Technology Development Co. Ltd., Cl. A
245
2,992
Beijing Dabeinong Technology Group Co. Ltd., Cl. A
2,400
1,085
Beijing Easpring Material Technology Co. Ltd., Cl. A
400
2,465
Beijing Geekplus Technology Co. Ltd., Cl. H(a)
4,600
5,643
Beijing Kingsoft Office Software, Inc., Cl. A
174
6,952
Beijing New Building Materials PLC, Cl. A
1,400
4,000
Beijing Oriental Yuhong Waterproof Technology Co. Ltd., Cl. A
800
1,409
Beijing Shiji Information Technology Co. Ltd., Cl. A
1,890
2,386
Beijing Tiantan Biological Products Corp. Ltd., Cl. A
340
646
Beijing Tong Ren Tang Co. Ltd., Cl. A
1,900
7,411
Beijing United Information Technology Co. Ltd., Cl. A(a)
700
2,000
Beijing Wantai Biological Pharmacy Enterprise Co. Ltd., Cl. A(a)
800
3,628
Beijing Yanjing Brewery Co. Ltd., Cl. A
300
574
Beijing-Shanghai High Speed Railway Co. Ltd., Cl. A
21,200
16,118
Bethel Automotive Safety Systems Co. Ltd., Cl. A
828
3,206
Bilibili, Inc., Cl. Z(a)
2,040
38,424
Biwin Storage Technology Co. Ltd., Cl. A
258
8,641
Bloks Group Ltd.(a)
300
1,980
Bloomage Biotechnology Corp. Ltd., Cl. A
92
546
Bluefocus Intelligent Communications Group Co. Ltd., Cl. A
2,120
4,509
BOC International China Co. Ltd., Cl. A
2,100
3,682
BOE Technology Group Co. Ltd., Cl. A
15,900
12,984
BTG Hotels Group Co. Ltd., Cl. A
800
1,483
5

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
China — 18.5% (continued)
Busy Ming Group Co. Ltd., Cl. H(a)
400
19,700
BYD Co. Ltd., Cl. A
2,800
39,741
BYD Co. Ltd., Cl. H
25,200
302,563
By-health Co. Ltd., Cl. A
2,000
3,094
Caida Securities Co. Ltd., Cl. A
4,800
4,567
Caitong Securities Co. Ltd., Cl. A
2,500
3,105
CALB Group Co. Ltd., Cl. H(a),(c)
2,400
5,175
Cambricon Technologies Corp. Ltd., Cl. A
238
39,011
Canmax Technologies Co. Ltd., Cl. A(a)
100
804
Capital Securities Co. Ltd., Cl. A
200
434
Cathay Biotech, Inc., Cl. A
150
1,012
CCCC Design & Consulting Group Co. Ltd., Cl. A
400
314
CCOOP Group Co. Ltd., Cl. A(a)
14,200
2,988
CECEP Solar Energy Co. Ltd., Cl. A
10,200
6,848
CECEP Wind-Power Corp., Cl. A
3,400
1,784
CGN Power Co. Ltd., Cl. A
2,700
1,653
CGN Power Co. Ltd., Cl. H(c)
77,000
28,378
Changchun High-Tech Industry Group Co. Ltd., Cl. A
300
3,601
Changjiang Securities Co. Ltd., Cl. A
4,300
5,481
Chaozhou Three-Circle Group Co. Ltd., Cl. A
1,700
28,137
Chery Automobile Co. Ltd., Cl. H
2,400
8,166
Chifeng Jilong Gold Mining Group Ltd., Cl. H
1,200
5,108
China Baoan Group Co. Ltd., Cl. A
2,600
3,033
China Cinda Asset Management Co. Ltd., Cl. H
64,000
8,080
China CITIC Bank Corp. Ltd., Cl. H
63,000
62,103
China CITIC Financial Asset Management Co. Ltd., Cl. H(a),(c)
97,000
7,298
China Coal Energy Co. Ltd., Cl. A
3,600
7,363
China Coal Energy Co. Ltd., Cl. H
13,000
17,755
China Communications Services Corp. Ltd., Cl. H
26,000
14,158
China Construction Bank Corp., Cl. A
8,800
14,150
China Construction Bank Corp., Cl. H
659,000
773,999
China CSSC Holdings Ltd., Cl. A
3,500
18,248
China Eastern Airlines Corp. Ltd., Cl. A(a)
8,500
4,711
China Eastern Airlines Corp. Ltd., Cl. H(a)
14,000
5,856
China Energy Engineering Corp. Ltd., Cl. A
20,700
7,976
China Energy Engineering Corp. Ltd., Cl. H
44,000
6,172
China Everbright Bank Co. Ltd., Cl. A
19,500
9,161
China Everbright Bank Co. Ltd., Cl. H
54,000
21,967
China Feihe Ltd.(c)
25,000
10,489
China Galaxy Securities Co. Ltd., Cl. A
2,500
4,679
China Galaxy Securities Co. Ltd., Cl. H
22,500
21,835
China Great Wall Securities Co. Ltd., Cl. A
3,500
4,316
China Greatwall Technology Group Co. Ltd., Cl. A(a)
2,100
4,276
China Hongqiao Group Ltd.
22,000
68,848
China International Capital Corp. Ltd., Cl. A
1,400
7,328
China International Capital Corp. Ltd., Cl. H(c)
10,000
27,545
China International Marine Containers Group Co. Ltd., Cl. A
3,700
4,754
China International Marine Containers Group Co. Ltd., Cl. H
2,900
2,811
China Jushi Co. Ltd., Cl. A
2,100
11,777
China Life Insurance Co. Ltd., Cl. A
1,200
7,028
China Life Insurance Co. Ltd., Cl. H
47,000
175,015
6


Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
China — 18.5% (continued)
China Literature Ltd.(a),(c)
3,600
9,283
China Longyuan Power Group Corp. Ltd., Cl. H
23,000
16,924
China Merchants Bank Co. Ltd., Cl. A
10,000
58,718
China Merchants Bank Co. Ltd., Cl. H
26,000
168,767
China Merchants Energy Shipping Co. Ltd., Cl. A
2,800
6,967
China Merchants Expressway Network & Technology Holdings Co. Ltd., Cl. A
2,700
4,045
China Merchants Securities Co. Ltd., Cl. A
2,600
6,778
China Merchants Securities Co. Ltd., Cl. H(c)
2,600
4,831
China Merchants Shekou Industrial Zone Holdings Co. Ltd., Cl. A
3,500
3,605
China Minsheng Banking Corp. Ltd., Cl. A
18,400
9,871
China Minsheng Banking Corp. Ltd., Cl. H
48,000
22,220
China National Building Material Co. Ltd., Cl. H
32,000
15,221
China National Chemical Engineering Co. Ltd., Cl. A
5,200
6,042
China National Nuclear Power Co. Ltd., Cl. A
9,200
12,353
China National Software & Service Co. Ltd., Cl. A(a)
90
439
China Nonferrous Mining Corp. Ltd.
12,000
22,572
China Northern Rare Earth Group High-Tech Co. Ltd., Cl. A
1,700
10,002
China Oilfield Services Ltd., Cl. A
1,300
2,433
China Oilfield Services Ltd., Cl. H
12,000
10,835
China Pacific Insurance Group Co. Ltd., Cl. A
3,500
16,785
China Pacific Insurance Group Co. Ltd., Cl. H
16,600
64,693
China Petroleum & Chemical Corp., Cl. A
16,700
13,018
China Petroleum & Chemical Corp., Cl. H
152,000
85,870
China Railway Group Ltd., Cl. A
8,800
6,012
China Railway Group Ltd., Cl. H
32,000
14,732
China Railway Signal & Communication Corp. Ltd., Cl. A
3,405
2,579
China Railway Signal & Communication Corp. Ltd., Cl. H(c)
13,000
5,587
China Reinsurance Group Corp., Cl. H
52,000
9,085
China Resources Beverage Holdings Co. Ltd.
3,800
3,925
China Resources Microelectronics Ltd., Cl. A
278
2,237
China Resources Mixc Lifestyle Services Ltd.(c)
4,400
22,400
China Resources Pharmaceutical Group Ltd.(c)
11,500
7,113
China Resources Sanjiu Medical & Pharmaceutical Co. Ltd., Cl. A
600
2,295
China Science Publishing & Media Ltd., Cl. A
100
293
China Shenhua Energy Co. Ltd., Cl. A
2,300
15,574
China Shenhua Energy Co. Ltd., Cl. H
23,500
130,243
China Southern Airlines Co. Ltd., Cl. A(a)
3,200
2,490
China Southern Airlines Co. Ltd., Cl. H(a)
14,000
6,284
China Southern Power Grid Energy Storage Co. Ltd., Cl. A
3,300
6,294
China State Construction Engineering Corp. Ltd., Cl. A
20,700
14,419
China Suntien Green Energy Corp. Ltd., Cl. H
17,000
7,132
China Three Gorges Renewables Group Co. Ltd., Cl. A
14,000
8,092
China Tourism Group Duty Free Corp. Ltd., Cl. A
700
6,018
China Tourism Group Duty Free Corp., Ltd., Cl. H(c)
800
5,468
China Tower Corp. Ltd., Cl. H(c)
33,900
43,361
China Tungsten And Hightech Materials Co. Ltd., Cl. A
800
5,870
China United Network Communications Ltd., Cl. A
14,700
9,716
China Vanke Co. Ltd., Cl. A(a)
3,600
1,782
China Vanke Co. Ltd., Cl. H(a)
1,700
538
China XD Electric Co. Ltd., Cl. A
3,300
6,524
China Yangtze Power Co. Ltd., Cl. A
9,900
42,681
7

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
China — 18.5% (continued)
China Zhenhua Group Science & Technology Co. Ltd., Cl. A
200
1,214
China Zheshang Bank Co. Ltd., Cl. A
17,400
7,813
China Zheshang Bank Co. Ltd., Cl. H
12,000
3,657
Chongqing Afari Technology Co. Ltd., Cl. A(a)
2,300
2,839
Chongqing Brewery Co. Ltd., Cl. A
300
2,068
Chongqing Changan Automobile Co. Ltd., Cl. A
3,586
4,183
Chongqing Changan Automobile Co. Ltd., Cl. B
13,550
6,186
Chongqing Polycomp International Corp., Cl. A
1,300
6,163
Chongqing Rural Commercial Bank Co. Ltd., Cl. A
800
801
Chongqing Rural Commercial Bank Co. Ltd., Cl. H
15,000
12,548
Chongqing Zhifei Biological Products Co. Ltd., Cl. A(a)
1,300
2,512
Chuangxin Industries Holdings Ltd.
1,500
3,193
CICT Mobile Communication Technology Co. Ltd., Cl. A(a)
1,600
2,808
CIG Shanghai Co. Ltd., Cl. H
650
5,541
CITIC Ltd.
34,000
53,634
Citic Pacific Special Steel Group Co. Ltd., Cl. A
1,300
2,886
CITIC Securities Co. Ltd., Cl. A
4,435
18,686
CITIC Securities Co. Ltd., Cl. H
12,500
43,550
CMOC Group Ltd., Cl. A
7,800
22,565
CMOC Group Ltd., Cl. H
24,000
51,694
CNGR Advanced Material Co. Ltd., Cl. A
420
2,533
CNPC Capital Co. Ltd., Cl. A
3,200
3,415
Contemporary Amperex Technology Co. Ltd., Cl. A
1,900
111,310
Contemporary Amperex Technology Co. Ltd., Cl. H
800
63,507
COSCO SHIPPING Development Co. Ltd., Cl. A
11,400
4,173
COSCO SHIPPING Development Co. Ltd., Cl. H
27,000
3,202
COSCO Shipping Energy Transportation Co. Ltd., Cl. A
4,000
10,001
COSCO Shipping Energy Transportation Co. Ltd., Cl. H
8,000
14,191
COSCO SHIPPING Holdings Co. Ltd., Cl. A
6,300
14,593
COSCO SHIPPING Holdings Co. Ltd., Cl. H
17,000
34,188
Country Garden Services Holdings Co. Ltd.
16,000
11,426
CRRC Corp. Ltd., Cl. A
12,300
11,229
CRRC Corp. Ltd., Cl. H
33,000
22,136
CSC Financial Co. Ltd., Cl. A
1,300
4,965
CSC Financial Co. Ltd., Cl. H(c)
7,000
10,516
CSI Solar Co. Ltd., Cl. A
1,215
1,889
CSPC Innovation Pharmaceutical Co. Ltd., Cl. A(a)
400
2,254
CSSC Science & Technology Co. Ltd., Cl. A(a)
2,200
2,967
Dajin Heavy Industry Co. Ltd., Cl. A
300
1,752
Daqin Railway Co. Ltd., Cl. A
7,500
5,524
DaShenLin Pharmaceutical Group Co. Ltd., Cl. A
1,400
3,911
Datang International Power Generation Co. Ltd., Cl. A
5,200
4,555
Datang International Power Generation Co. Ltd., Cl. H
8,000
2,571
Dazhong Mining Co. Ltd., Cl. A
600
2,306
DHC Software Co. Ltd., Cl. A
2,200
2,361
Do-Fluoride New Materials Co. Ltd., Cl. A
1,300
6,057
Dong-E-E-Jiao Co. Ltd., Cl. A
300
2,428
Dongfang Electric Corp. Ltd., Cl. A
1,300
4,836
Dongfang Electric Corp. Ltd., Cl. H
3,600
9,880
Dongguan Yiheda Automation Co. Ltd., Cl. A
100
367
Dongxing Securities Co. Ltd., Cl. A
2,200
4,509
8


Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
China — 18.5% (continued)
Duality Biotherapeutics, Inc.(a)
300
6,955
East Buy Holding Ltd.(a),(c)
2,500
6,835
East Money Information Co. Ltd., Cl. A
7,500
22,419
Eastern Air Logistics Co. Ltd., Cl. A
100
253
Eastroc Beverage Group Co. Ltd., Cl. A
299
6,022
Eastroc Beverage Group Co. Ltd., Cl. H
300
4,782
Easyhome New Retail Group Co. Ltd., Cl. A(a)
300
101
Ecovacs Robotics Co. Ltd., Cl. A
300
2,697
Empyrean Technology Co. Ltd., Cl. A
200
2,591
ENN Energy Holdings Ltd.
4,600
27,536
ENN Natural Gas Co. Ltd., Cl. A
1,700
4,485
Eoptolink Technology, Inc. Ltd., Cl. A
560
32,866
Eve Energy Co. Ltd., Cl. A
800
6,433
Everbright Securities Co. Ltd., Cl. A
2,600
5,703
FAW Jiefang Group Co. Ltd., Cl. A
6,400
6,165
Flat Glass Group Co. Ltd., Cl. A
700
1,046
Flat Glass Group Co. Ltd., Cl. H
4,000
3,545
Focus Media Information Technology Co. Ltd., Cl. A
6,200
5,164
Foshan Haitian Flavouring & Food Co. Ltd., Cl. A
2,082
11,861
Foshan Haitian Flavouring & Food Co. Ltd., Cl. H
1,800
7,547
Founder Securities Co. Ltd., Cl. A
5,400
5,682
Foxconn Industrial Internet Co. Ltd., Cl. A
4,600
38,654
Fujian Funeng Co. Ltd., Cl. A
4,800
7,726
Fujian Sunner Development Co. Ltd., Cl. A
200
496
Full Truck Alliance Co. Ltd., ADR
5,329
50,572
Fuyao Glass Industry Group Co. Ltd., Cl. A
800
7,078
Fuyao Glass Industry Group Co. Ltd., Cl. H(c)
4,400
33,330
GalaxyCore, Inc., Cl. A(a)
832
1,840
Gan & Lee Pharmaceuticals Co. Ltd., Cl. A
800
8,149
Ganfeng Lithium Co. Ltd., Cl. A
600
4,420
Ganfeng Lithium Co. Ltd., Cl. H(c)
3,360
15,777
GD Power Development Co. Ltd., Cl. A
6,000
4,517
GDS Holdings Ltd., Cl. A(a)
8,100
32,125
GEM Co. Ltd., Cl. A
2,400
2,383
Genscript Biotech Corp.(a)
8,000
18,425
Geovis Technology Co. Ltd., Cl. A
400
1,987
GF Securities Co. Ltd., Cl. A
3,800
12,029
GF Securities Co. Ltd., Cl. H
6,800
14,811
Giant Biogene Holding Co. Ltd.(c)
3,000
11,776
Giant Network Group Co. Ltd., Cl. A
800
3,471
GigaDevice Semiconductor, Inc., Cl. A
280
15,711
GigaDevice Semiconductor, Inc., Cl. H
200
11,707
Glodon Co. Ltd., Cl. A
1,600
2,229
GoerTek, Inc., Cl. A
800
2,739
Goldwind Science & Technology Co. Ltd., Cl. A
1,800
4,906
Goldwind Science & Technology Co. Ltd., Cl. H
4,400
5,471
Goneo Group Co. Ltd., Cl. A
112
693
Gotion High-tech Co. Ltd., Cl. A
1,300
5,501
Grace Fabric Technology Co. Ltd., Cl. A
100
1,899
Great Wall Motor Co. Ltd., Cl. A
200
498
Great Wall Motor Co. Ltd., Cl. H
19,500
22,580
9

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
China — 18.5% (continued)
Gree Electric Appliances, Inc. of Zhuhai, Cl. A
3,200
20,061
Greenland Holdings Corp. Ltd., Cl. A(a)
5,500
1,060
Greentown China Holdings Ltd.(a)
8,500
7,729
GRG Banking Equipment Co. Ltd., Cl. A
1,600
2,428
Guangdong Haid Group Co. Ltd., Cl. A
800
5,864
Guangdong HEC Technology Holding Co. Ltd., Cl. A(a)
1,300
5,464
Guanghui Energy Co. Ltd., Cl. A
1,800
1,454
Guangshen Railway Co. Ltd., Cl. H
10,000
2,920
Guangzhou Automobile Group Co. Ltd., Cl. H(a)
16,000
4,795
Guangzhou Baiyun International Airport Co. Ltd., Cl. A
3,900
4,583
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Cl. A
300
991
Guangzhou Baiyunshan Pharmaceutical Holdings Co. Ltd., Cl. H
4,000
8,136
Guangzhou Haige Communications Group, Inc. Co., Cl. A
2,400
3,557
Guangzhou Shiyuan Electronic Technology Co. Ltd., Cl. A
1,300
8,706
Guangzhou Tinci Materials Technology Co. Ltd., Cl. A
900
4,767
Guangzhou Yuexiu Capital Holdings Group Co. Ltd., Cl. A
3,500
4,077
Guming Holdings Ltd.
3,600
10,734
Guolian Minsheng Securities Co. Ltd., Cl. A
8,300
11,083
Guosen Securities Co. Ltd., Cl. A
3,200
4,894
Guotai Haitong Securities Co. Ltd.
5,300
14,421
Guotai Haitong Securities Co. Ltd., Cl. H(c)
15,600
29,702
Guoyuan Securities Co. Ltd., Cl. A
3,400
3,699
H World Group Ltd.
12,800
54,324
Haidilao International Holding Ltd.(c)
16,000
24,260
Haier Smart Home Co. Ltd., Cl. A
2,600
8,936
Haier Smart Home Co. Ltd., Cl. H
15,400
44,384
Hainan Airlines Holding Co. Ltd., Cl. A(a)
16,700
3,391
Hainan Airport Infrastructure Co. Ltd., Cl. A
9,300
4,038
Haitian International Holdings Ltd.
5,000
13,275
Hangcha Group Co. Ltd., Cl. A
300
1,249
Hangzhou Binjiang Real Estate Group Co. Ltd., Cl. A
3,400
4,676
Hangzhou Chang Chuan Technology Co. Ltd., Cl. A
200
7,696
Hangzhou First Applied Material Co. Ltd., Cl. A
1,679
3,650
Hangzhou Lion Electronics Co. Ltd., Cl. A
200
1,100
Hangzhou Robam Appliances Co. Ltd., Cl. A
1,900
4,488
Hangzhou Silan Microelectronics Co. Ltd., Cl. A
1,400
5,863
Hangzhou Tigermed Consulting Co. Ltd., Cl. A
700
5,186
Hangzhou Tigermed Consulting Co. Ltd., Cl. H(c)
800
3,848
Han’s Laser Technology Industry Group Co. Ltd., Cl. A
400
5,010
Hansoh Pharmaceutical Group Co. Ltd.(c)
8,000
32,830
Haohua Chemical Science & Technology Co. Ltd., Cl. A
100
591
Harbin Electric Co. Ltd., Cl. H
4,000
8,044
Hebei Changshan Biochemical Pharmaceutical Co. Ltd., Cl. A(a)
300
1,110
Hebei Sinopack Electronic Technology Co. Ltd., Cl. A
200
2,807
Hebei Yangyuan Zhihui Beverage Co. Ltd., Cl. A
700
4,018
Heilongjiang Agriculture Co. Ltd., Cl. A
200
366
Henan Shenhuo Coal & Power Co. Ltd., Cl. A
600
2,318
Henan Shuanghui Investment & Development Co. Ltd., Cl. A
1,500
5,778
Hengan International Group Co. Ltd.
6,000
18,945
Hengdian Group DMEGC Magnetics Co. Ltd., Cl. A
300
924
Hengli Petrochemical Co. Ltd., Cl. A
2,200
5,451
10


Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
China — 18.5% (continued)
Hengtong Optic-electric Co. Ltd., Cl. A
1,400
9,878
Hengyi Petrochemical Co. Ltd., Cl. A
3,200
7,631
Hesai Group(a),(b)
820
13,858
HGTECH Co. Ltd., Cl. A
400
5,654
Hisense Home Appliances Group Co. Ltd., Cl. A
500
2,030
Hisense Home Appliances Group Co. Ltd., Cl. H
2,000
5,999
Hithink RoyalFlush Information Network Co. Ltd., Cl. A
280
9,750
HLA Group Corp. Ltd., Cl. A
4,200
3,921
Hongta Securities Co. Ltd., Cl. A
3,200
3,377
Horizon Robotics(a)
61,800
40,745
Hoshine Silicon Industry Co. Ltd., Cl. A
200
994
Hua Hong Grace Semiconductor Ltd., Cl. H(a),(c)
5,000
81,807
Huaan Securities Co. Ltd., Cl. A
4,100
4,642
Huadian Power International Corp. Ltd., Cl. A
2,200
1,568
Huadian Power International Corp. Ltd., Cl. H
10,000
5,305
Huadong Medicine Co. Ltd., Cl. A
1,300
5,608
Huafon Chemical Co. Ltd., Cl. A
2,500
4,068
Huaibei Mining Holdings Co. Ltd., Cl. A
2,100
4,703
Hualan Biological Engineering, Inc., Cl. A
1,200
2,390
Huaneng Lancang River Hydropower, Inc., Cl. A
3,600
5,399
Huaneng Power International, Inc., Cl. A
3,600
3,836
Huaneng Power International, Inc., Cl. H
28,000
21,531
Huaqin Co. Ltd., Cl. A
560
6,746
Huatai Securities Co. Ltd., Cl. A
2,300
6,688
Huatai Securities Co. Ltd., Cl. H(c)
11,200
24,124
Huaxi Securities Co. Ltd., Cl. A
2,200
2,739
Huaxia Bank Co. Ltd., Cl. A
7,300
7,541
Huaxia Eye Hospital Group Co. Ltd., Cl. A
1,500
3,655
Huaxin Building Materials Group Co. Ltd., Cl. H
2,400
4,542
HUAYU Automotive Systems Co. Ltd., Cl. A
1,300
3,248
Hubei Dinglong Co. Ltd., Cl. A
300
3,054
Hubei Feilihua Quartz Glass Co. Ltd., Cl. A(a)
300
3,235
Hubei Xingfa Chemicals Group Co. Ltd., Cl. A
700
2,995
Huishang Bank Corp. Ltd., Cl. H
3,000
1,943
Huizhou Desay Sv Automotive Co. Ltd., Cl. A
200
2,740
Hunan Valin Steel Co. Ltd., Cl. A
4,600
2,679
Hunan Yuneng New Energy Battery Material Co. Ltd., Cl. A
300
2,816
Hundsun Technologies, Inc., Cl. A
700
2,378
Hwatsing Technology Co. Ltd., Cl. A
117
4,456
Hygon Information Technology Co. Ltd., Cl. A
1,021
41,914
IEIT Systems Co. Ltd., Cl. A
700
7,450
Iflytek Co. Ltd., Cl. A
1,600
10,011
Imeik Technology Development Co. Ltd., Cl. A
80
1,292
Industrial & Commercial Bank of China Ltd., Cl. A
28,500
33,748
Industrial & Commercial Bank of China Ltd., Cl. H
480,000
459,702
Industrial Bank Co. Ltd., Cl. A
9,300
26,049
Industrial Securities Co. Ltd., Cl. A
2,300
2,059
Ingenic Semiconductor Co. Ltd., Cl. A
200
3,759
Inner Mongolia BaoTou Steel Union Co. Ltd., Cl. A(a)
25,300
8,361
Inner Mongolia Dian Tou Energy Corp. Ltd., Cl. A
800
3,199
Inner Mongolia Junzheng Energy & Chemical Group Co. Ltd., Cl. A
5,700
4,004
11

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
China — 18.5% (continued)
Inner Mongolia Xingye Silver&Tin Mining Co. Ltd., Cl. A
600
2,828
Inner Mongolia Yili Industrial Group Co. Ltd., Cl. A
2,800
11,246
Inner Mongolia Yitai Coal Co. Ltd., Cl. B
7,300
21,017
Inner Mongolia Yuan Xing Energy Co. Ltd., Cl. A
3,600
3,190
InnoCare Pharma Ltd., Cl. H(a),(c)
5,000
8,697
InnoScience Suzhou Technology Holding Co. Ltd., Cl. H(a)
2,200
10,958
Innovent Biologics, Inc.(a),(c)
11,000
121,621
iSoftStone Information Technology Group Co. Ltd., Cl. A
800
4,544
J&T Global Express Ltd.(a)
43,400
55,844
JA Solar Technology Co. Ltd., Cl. A(a)
1,776
1,977
JCET Group Co. Ltd., Cl. A
800
7,791
JD Health International, Inc.(a),(c)
7,400
37,181
JD Logistics, Inc.(a),(c)
12,600
24,134
JD.com, Inc., Cl. A
19,966
323,617
Jiangsu Eastern Shenghong Co. Ltd., Cl. A(a)
3,200
5,582
Jiangsu Expressway Co. Ltd., Cl. H
10,000
12,395
Jiangsu Hengli Hydraulic Co. Ltd., Cl. A
644
10,351
Jiangsu Hengrui Pharmaceuticals Co. Ltd., Cl. A
3,740
29,975
Jiangsu Hengrui Pharmaceuticals Co. Ltd., Cl. H
800
5,825
Jiangsu King’s Luck Brewery JSC Ltd., Cl. A
1,200
5,104
Jiangsu Pacific Quartz Co. Ltd., Cl. A
100
622
Jiangsu Xukuang Energy Co. Ltd., Cl. A
2,500
1,627
Jiangsu Yanghe Distillery Co. Ltd., Cl. A
600
3,815
Jiangsu Yangnong Chemical Co. Ltd., Cl. A
200
1,680
Jiangsu Yoke Technology Co. Ltd., Cl. A
300
5,949
Jiangsu Yuyue Medical Equipment & Supply Co. Ltd., Cl. A
1,300
5,410
Jiangsu Zhongtian Technology Co. Ltd., Cl. A
2,300
9,721
Jiangxi Copper Co. Ltd., Cl. A
800
5,131
Jiangxi Copper Co. Ltd., Cl. H
8,000
35,891
Jiangxi Zhengbang Technology Co. Ltd., Cl. A(a)
6,500
2,823
Jinduicheng Molybdenum Co. Ltd., Cl. A
1,900
5,910
Jinko Solar Co. Ltd., Cl. A(a)
7,572
4,870
Jiujiang Defu Technology Co. Ltd., Cl. A
200
1,965
JL MAG Rare-Earth Co. Ltd., Cl. H
1,400
2,932
Joincare Pharmaceutical Group Industry Co. Ltd., Cl. A
1,900
2,886
Jonjee Hi-Tech Industrial and Commercial Holding Co. Ltd., Cl. A
1,300
3,913
Juneyao Airlines Co. Ltd., Cl. A
1,600
2,625
Kanzhun Ltd., ADR
2,156
35,100
KE Holdings, Inc., Cl. A
13,700
75,859
Keda Industrial Group Co. Ltd., Cl. A
1,600
3,910
Kingdee International Software Group Co. Ltd.(a)
20,000
21,246
Kingfa Sci & Tech Co. Ltd., Cl. A
1,500
3,437
Kingnet Network Co. Ltd., Cl. A
1,500
3,821
Kingsoft Cloud Holdings Ltd.(a)
22,000
16,300
Kingsoft Corp. Ltd.
7,400
25,253
Kuaishou Technology(c)
19,800
110,342
Kuang-Chi Technologies Co. Ltd., Cl. A
1,700
7,780
Kunlun Tech Co. Ltd., Cl. A(a)
1,300
8,323
Kweichow Moutai Co. Ltd., Cl. A
500
100,081
Lao Feng Xiang Co. Ltd., Cl. B
1,600
4,845
Laopu Gold Co. Ltd., Cl. H
300
12,426
12


Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
China — 18.5% (continued)
LB Group Co. Ltd., Cl. A
2,200
5,341
Lenovo Group Ltd.(b)
36,000
109,539
Lens Technology Co. Ltd., Cl. A
3,200
14,977
Lens Technology Co. Ltd., Cl. H
1,200
3,159
Lepu Medical Technology Beijing Co. Ltd., Cl. A
600
1,162
Levima Advanced Materials Corp., Cl. A
1,300
3,616
Li Auto, Inc., Cl. A(a)
7,900
53,798
Li Ning Co. Ltd.
17,500
33,810
Liaoning Port Co. Ltd., Cl. A
9,600
2,148
Lingyi iTech Guangdong Co., Cl. A
4,000
7,351
Livzon Pharmaceutical Group, Inc., Cl. H
2,000
6,621
Longfor Group Holdings Ltd.(c)
15,500
13,560
LONGi Green Energy Technology Co. Ltd., Cl. A(a)
2,636
5,075
Loongson Technology Corp. Ltd., Cl. A(a)
292
4,603
Luxshare Precision Industry Co. Ltd., Cl. A
3,300
28,112
Luzhou Laojiao Co. Ltd., Cl. A
600
8,086
Lygend Resources & Technology Co. Ltd., Cl. H
1,000
1,688
Maanshan Iron & Steel Co. Ltd., Cl. H(a)
12,000
2,617
Mango Excellent Media Co. Ltd., Cl. A
1,200
2,911
Mao Geping Cosmetics Co. Ltd., Cl. H
1,200
8,991
Meihua Holdings Group Co. Ltd., Cl. A
2,700
3,253
Meinian Onehealth Healthcare Holdings Co. Ltd., Cl. A
4,400
3,117
Meitu, Inc.(c)
22,500
13,543
Meituan, Cl. B(a),(c)
37,570
443,178
Metallurgical Corp. of China Ltd., Cl. A(a)
7,300
2,943
Metallurgical Corp. of China Ltd., Cl. H
20,000
3,826
Midea Group Co. Ltd., Cl. A
3,300
42,842
Midea Group Co. Ltd., Cl. H(b)
4,400
55,746
Ming Yang Smart Energy Group Ltd., Cl. A
1,600
2,644
MiniMax Group, Inc.(a)
880
25,878
MINISO Group Holding Ltd.
3,400
11,117
MIXUE Group, Cl. H(a),(b)
300
8,669
Montage Technology Co. Ltd., Cl. A
505
15,335
Montage Technology Co. Ltd., Cl. H
400
13,722
Muyuan Foods Group Co. Ltd., Cl. A
2,220
12,917
Muyuan Foods Group Co. Ltd., Cl. H
1,800
7,603
Nanjing King-Friend Biochemical Pharmaceutical Co. Ltd., Cl. A
1,400
1,679
Nanjing Securities Co. Ltd., Cl. A
2,400
2,433
NARI Technology Co. Ltd., Cl. A
3,544
12,789
National Silicon Industry Group Co. Ltd., Cl. A(a)
1,129
3,929
NAURA Technology Group Co. Ltd., Cl. A
310
31,563
NavInfo Co. Ltd., Cl. A(a)
2,700
2,673
NetEase, Inc.
12,200
323,296
New China Life Insurance Co. Ltd., Cl. A
600
5,614
New China Life Insurance Co. Ltd., Cl. H
6,500
40,086
New Hope Liuhe Co. Ltd., Cl. A(a)
6,600
6,847
New Oriental Education & Technology Group, Inc.
9,600
55,434
Nexchip Semiconductor Corp., Cl. A(a)
550
3,036
Ningbo Deye Technology Corp., Cl. A
618
7,493
Ningbo Joyson Electronic Corp., Cl. H
3,000
5,088
Ningbo Shanshan Co. Ltd., Cl. A(a)
2,600
4,905
13

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
China — 18.5% (continued)
Ningbo Tuopu Group Co. Ltd., Cl. A
840
5,807
Ningbo Zhoushan Port Co. Ltd., Cl. A
1,800
928
Ningxia Baofeng Energy Group Co. Ltd., Cl. A
4,400
15,187
NIO, Inc., Cl. A(a)
12,590
62,327
Nongfu Spring Co. Ltd., Cl. H(c)
12,800
71,463
North Industries Group Red Arrow Co. Ltd., Cl. A
1,400
2,986
OFILM Group Co. Ltd., Cl. A(a)
1,500
1,605
OmniVision Integrated Circuits Group, Inc.
540
7,099
Onewo, Inc., Cl. H
500
1,078
Orient Securities Co. Ltd., Cl. A
1,792
2,441
Orient Securities Co. Ltd., Cl. H(c)
7,600
5,534
Oriental Pearl Group Co. Ltd., Cl. A
2,000
2,436
Pangang Group Vanadium Titanium & Resources Co. Ltd., Cl. A(a)
4,700
2,145
Pantum Technology Co. Ltd., Cl. A(a)
100
252
People.cn Co. Ltd., Cl. A
1,200
2,993
Perfect World Co. Ltd., Cl. A
1,900
3,089
PetroChina Co. Ltd., Cl. A
11,500
18,884
PetroChina Co. Ltd., Cl. H
148,000
187,605
Phancy Group Co. Ltd., Cl. H(a)
2,000
7,468
Pharmaron Beijing Co. Ltd., Cl. H(c)
2,100
6,133
PICC Property & Casualty Co. Ltd., Cl. H
46,000
96,205
Ping An Bank Co. Ltd., Cl. A
6,800
11,720
Ping An Healthcare and Technology Co. Ltd.(a),(c)
6,300
6,283
Ping An Insurance Group Co. of China Ltd., Cl. A
4,500
36,613
Ping An Insurance Group Co. of China Ltd., Cl. H
44,500
332,831
Piotech, Inc., Cl. A
62
6,110
Poly Developments and Holdings Group Co. Ltd., Cl. A
6,500
5,086
Poly Property Development Co. Ltd., Cl. H
1,000
3,583
Pony AI, Inc., ADR(a),(b)
1,613
12,694
Pop Mart International Group Ltd.(c)
4,400
91,236
Postal Savings Bank of China Co. Ltd., Cl. A
9,500
7,293
Postal Savings Bank of China Co. Ltd., Cl. H(c)
61,000
39,517
Power Construction Corp. of China Ltd., Cl. A
5,300
3,841
Proya Cosmetics Co. Ltd., Cl. A
300
2,725
Qilu Bank Co. Ltd., Cl. A
6,500
6,136
Qingdao Sentury Tire Co. Ltd., Cl. A
800
1,750
Qinghai Salt Lake Industry Co. Ltd., Cl. A(a)
3,600
14,576
Quzhou Xin’an Development Co. Ltd., Cl. A(a)
8,800
3,743
Range Intelligent Computing Technology Group Co. Ltd., Cl. A
700
6,562
Raytron Technology Co. Ltd., Cl. A
464
9,741
RemeGen Co. Ltd., Cl. H(a),(c)
1,500
15,638
REPT BATTERO Energy Co. Ltd., Cl. H(a)
4,000
5,504
RoboTechnik Intelligent Technology Co. Ltd., Cl. A
100
6,159
Rockchip Electronics Co. Ltd., Cl. A
100
2,786
Rongsheng Petrochemical Co. Ltd., Cl. A
3,700
6,778
Ruyi Film Entertainment Co. Ltd., Cl. A(a)
1,200
1,545
SAIC Motor Corp. Ltd., Cl. A
3,600
6,040
Sailun Group Co. Ltd., Cl. A
2,000
4,197
Sanan Optoelectronics Co. Ltd., Cl. A(a)
3,700
6,712
Sangfor Technologies, Inc., Cl. A
200
3,548
Sany Heavy Equipment International Holdings Co. Ltd.
12,000
11,370
14


Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
China — 18.5% (continued)
Sany Heavy Industry Co. Ltd., Cl. A
2,400
7,309
Sany Heavy Industry Co. Ltd., Cl. H
3,600
9,687
Satellite Chemical Co. Ltd., Cl. A
2,442
9,189
SDIC Capital Co. Ltd., Cl. A
4,300
4,155
SDIC Power Holdings Co. Ltd., Cl. A
2,800
6,328
Sealand Securities Co. Ltd., Cl. A
3,700
2,106
Seazen Holdings Co. Ltd., Cl. A(a)
1,500
2,499
SenseTime Group, Inc., Cl. B(a),(c)
200,000
36,982
Seres Group Co. Ltd., Cl. A
700
6,458
Seres Group Co. Ltd., Cl. H
400
2,438
SF Holding Co. Ltd., Cl. A
2,400
12,445
SF Holding Co. Ltd., Cl. H
1,200
5,175
SG Micro Corp., Cl. A
350
4,966
Shaanxi Coal Industry Co. Ltd., Cl. A
3,500
12,864
Shaanxi Energy Investment Co. Ltd., Cl. A
3,200
4,965
Shan Xi Hua Yang Group New Energy Co. Ltd., Cl. A
500
639
Shandong Gold Mining Co. Ltd., Cl. A
2,000
8,359
Shandong Gold Mining Co. Ltd., Cl. H(c)
5,650
14,526
Shandong Himile Mechanical Science & Technology Co. Ltd., Cl. A
435
3,364
Shandong Hongqiao Aluminum Industry Holding Co. Ltd., Cl. A
1,200
3,694
Shandong Hualu Hengsheng Chemical Co. Ltd., Cl. A
2,050
6,547
Shandong Linglong Tyre Co. Ltd., Cl. A
400
688
Shandong Nanshan Aluminum Co. Ltd., Cl. A
5,800
4,057
Shandong Sinocera Functional Material Co. Ltd., Cl. A
1,400
12,872
Shandong Sun Paper Industry JSC Ltd., Cl. A
1,400
3,021
Shandong Weifang Rainbow Chemical Co. Ltd., Cl. A
130
1,090
Shandong Weigao Group Medical Polymer Co. Ltd., Cl. H
13,200
5,656
Shanghai Aiko Solar Energy Co. Ltd., Cl. A(a)
1,700
3,114
Shanghai Bairun Investment Holding Group Co. Ltd., Cl. A
600
1,832
Shanghai Baosight Software Co. Ltd., Cl. A
1,333
3,673
Shanghai Baosight Software Co. Ltd., Cl. B
4,404
3,928
Shanghai Biren Technology Co. Ltd., Cl. H(a)
7,800
31,015
Shanghai BOCHU Electronic Technology Corp. Ltd., Cl. A
116
1,800
Shanghai Chicmax Cosmetic Co. Ltd., Cl. H
500
1,896
Shanghai Electric Group Co. Ltd., Cl. A
7,300
7,465
Shanghai Electric Group Co. Ltd., Cl. H
12,000
4,928
Shanghai Electric Power Co. Ltd., Cl. A
1,300
2,788
Shanghai Fosun Pharmaceutical Group Co. Ltd., Cl. A
500
1,721
Shanghai Fosun Pharmaceutical Group Co. Ltd., Cl. H
3,000
6,282
Shanghai Fudan Microelectronics Group Co. Ltd., Cl. A
420
3,028
Shanghai Fudan Microelectronics Group Co. Ltd., Cl. H
2,000
6,111
Shanghai Henlius Biotech, Inc., Cl. H(a),(c)
500
3,548
Shanghai International Airport Co. Ltd., Cl. A
1,800
6,584
Shanghai International Port Group Co. Ltd., Cl. A
5,300
4,155
Shanghai Jinjiang International Hotels Co. Ltd., Cl. A
700
2,022
Shanghai Junshi Biosciences Co. Ltd., Cl. H(a),(c)
1,200
2,794
Shanghai Lingang Holdings Corp. Ltd., Cl. A
100
133
Shanghai MicroPort MedBot Group Co. Ltd., Cl. H(a)
2,000
5,310
Shanghai Pharmaceuticals Holding Co. Ltd., Cl. H
5,700
8,737
Shanghai Pudong Development Bank Co. Ltd., Cl. A
12,600
17,758
Shanghai Putailai New Energy Technology Group Co. Ltd., Cl. A
1,430
5,044
15

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
China — 18.5% (continued)
Shanghai RAAS Blood Products Co. Ltd., Cl. A
6,100
4,683
Shanghai Rural Commercial Bank Co. Ltd., Cl. A
4,100
5,220
Shanghai United Imaging Healthcare Co. Ltd., Cl. A
302
5,170
Shanghai Yuyuan Tourist Mart Group Co. Ltd., Cl. A(a)
2,700
1,861
Shanghai Zhangjiang Hi-Tech Park Development Co. Ltd., Cl. A
300
1,429
Shanghai Zhonggu Logistics Co. Ltd., Cl. A
1,800
2,876
Shanjin International Gold Co. Ltd., Cl. A
1,400
4,851
Shannon Semiconductor Technology Co. Ltd., Cl. A
100
2,161
Shanxi Lu’an Environmental Energy Development Co. Ltd., Cl. A
200
448
Shanxi Meijin Energy Co. Ltd., Cl. A(a)
3,300
1,766
Shanxi Securities Co. Ltd., Cl. A
5,600
4,490
Shanxi Taigang Stainless Steel Co. Ltd., Cl. A
7,200
3,873
Shanxi Xinghuacun Fen Wine Factory Co. Ltd., Cl. A
560
10,560
Shanxi Xishan Coal & Electricity Power Co. Ltd., Cl. A
3,800
3,661
Sharetronic Data Technology Co. Ltd., Cl. A
140
4,479
Shenergy Co. Ltd., Cl. A
2,600
3,295
Shengyi Electronics Co. Ltd., Cl. A
200
2,801
Shengyi Technology Co. Ltd., Cl. A
1,300
20,353
Shennan Circuits Co. Ltd., Cl. A
240
10,955
Shenwan Hongyuan Group Co. Ltd., Cl. A
9,200
6,395
Shenzhen Dobot Corp. Ltd., Cl. H(a)
1,000
3,135
Shenzhen Energy Group Co. Ltd., Cl. A
5,300
5,098
Shenzhen Envicool Technology Co. Ltd., Cl. A
520
3,657
Shenzhen Expressway Corp. Ltd., Cl. H
6,000
5,203
Shenzhen Goodix Technology Co. Ltd., Cl. A
400
3,106
Shenzhen Han’s CNC Technology Co. Ltd., Cl. A
200
6,906
Shenzhen Han’s CNC Technology Co. Ltd., Cl. H
200
2,405
Shenzhen Inovance Technology Co. Ltd., Cl. A
1,300
12,342
Shenzhen Kaifa Technology Co. Ltd., Cl. A
1,400
7,725
Shenzhen Kangtai Biological Products Co. Ltd., Cl. A
1,300
2,418
Shenzhen Kinwong Electronic Co. Ltd., Cl. A
800
8,619
Shenzhen Longsys Electronics Co. Ltd., Cl. A
200
10,285
Shenzhen Megmeet Electrical Co. Ltd., Cl. A
200
3,155
Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Cl. A
400
9,419
Shenzhen New Industries Biomedical Engineering Co. Ltd., Cl. A
400
2,838
Shenzhen Overseas Chinese Town Co. Ltd., Cl. A(a)
4,500
1,174
Shenzhen Salubris Pharmaceuticals Co. Ltd., Cl. A
600
2,959
Shenzhen SED Industry Co. Ltd., Cl. A
700
1,405
Shenzhen Sunway Communication Co. Ltd., Cl. A
300
2,556
Shenzhen Techwinsemi Technology Co. Ltd., Cl. A
100
5,719
Shenzhen Transsion Holdings Co. Ltd., Cl. A
275
2,628
Shenzhen Xunce Technology Co. Ltd., Cl. H(a)
400
5,280
Shenzhen Yan Tian Port Holding Co. Ltd., Cl. A
13,800
9,162
Shenzhou International Group Holdings Ltd.
5,500
31,268
Shijiazhuang Yiling Pharmaceutical Co. Ltd., Cl. A
2,500
6,258
Sichuan Biokin Pharmaceutical Co. Ltd., Cl. A(a)
65
2,871
Sichuan Changhong Electric Co. Ltd., Cl. A
3,300
3,394
Sichuan Chuantou Energy Co. Ltd., Cl. A
3,500
8,201
Sichuan Hebang Biotechnology Co. Ltd., Cl. A(a)
11,200
3,934
Sichuan Kelun Pharmaceutical Co. Ltd., Cl. A
500
3,219
Sichuan Kelun-Biotech Biopharmaceutical Co. Ltd., Cl. H(a)
300
18,509
16


Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
China — 18.5% (continued)
Sichuan Road and Bridge Group Co. Ltd., Cl. A
160
214
Sichuan Swellfun Co. Ltd., Cl. A
200
868
Silergy Corp.
2,000
25,558
Sinolink Securities Co. Ltd., Cl. A
3,600
4,663
Sinoma International Engineering Co., Cl. A
1,900
2,244
Sinoma Science & Technology Co. Ltd., Cl. A
800
5,115
Sinomach Heavy Equipment Group Co. Ltd., Cl. A(a)
4,600
2,270
SINOPEC Engineering Group Co. Ltd., Cl. H
9,500
6,566
Sinopec Shanghai Petrochemical Co. Ltd., Cl. H(a)
48,000
6,917
Sinopharm Group Co. Ltd., Cl. H
10,000
22,164
Sinotrans Ltd., Cl. H
13,000
7,825
Sinotruk Hong Kong Ltd.
6,000
31,096
SKSHU Paint Co. Ltd., Cl. A
504
1,749
Smoore International Holdings Ltd.(b),(c)
15,000
17,598
Songcheng Performance Development Co. Ltd., Cl. A
2,200
2,054
Soochow Securities Co. Ltd., Cl. A
2,200
2,647
Southwest Securities Co. Ltd., Cl. A
13,800
8,549
Spring Airlines Co. Ltd., Cl. A
400
2,786
StarPower Semiconductor Ltd., Cl. A
440
5,249
State Grid Information & Communication Co. Ltd., Cl. A
300
696
Sungrow Power Supply Co. Ltd., Cl. A
800
12,256
Sunny Optical Technology Group Co. Ltd.(b)
4,800
34,309
Sunresin New Materials Co. Ltd., Cl. A
600
5,208
Sunshine Insurance Group Co. Ltd., Cl. H
18,500
8,658
Sunwoda Electronic Co. Ltd., Cl. A
1,500
4,235
SUPCON Technology Co. Ltd., Cl. A
174
2,401
Suzhou Dongshan Precision Manufacturing Co. Ltd., Cl. A(a)
700
17,790
Suzhou Maxwell Technologies Co. Ltd., Cl. A
100
2,206
Suzhou TFC Optical Communication Co. Ltd., Cl. A
520
13,179
TAL Education Group, ADR(a)
3,047
38,087
Talkweb Information System Co. Ltd., Cl. A(a)
1,200
4,611
TBEA Co. Ltd., Cl. A
2,020
6,269
TCL Technology Group Corp., Cl. A
11,200
7,851
TCL Zhonghuan Renewable Energy Technology Co. Ltd., Cl. A(a)
2,450
3,206
Tencent Holdings Ltd.
43,100
2,611,855
Tencent Music Entertainment Group, ADR
3,895
36,808
Tencent Music Entertainment Group, Cl. A
200
982
The Pacific Securities Co. Ltd., Cl. A(a)
8,800
4,512
The People’s Insurance Company Group of China Ltd., Cl. A
4,300
4,697
The People’s Insurance Company Group of China Ltd., Cl. H
59,000
41,081
Tianfeng Securities Co. Ltd., Cl. A(a)
6,000
3,299
Tianqi Lithium Corp., Cl. A(a)
400
2,688
Tianqi Lithium Corp., Cl. H(a)
1,400
5,967
Tianshan Aluminum Group Co. Ltd., Cl. A
3,600
7,043
Tianshan Material Co. Ltd., Cl. A(a)
200
114
Tingyi Cayman Islands Holding Corp.
10,000
15,175
Tongcheng Travel Holdings Ltd.
8,400
15,297
TongFu Microelectronics Co. Ltd., Cl. A
500
4,204
Tongkun Group Co. Ltd., Cl. A
1,900
6,307
Tongling Nonferrous Metals Group Co. Ltd., Cl. A
8,800
8,099
Tongwei Co. Ltd., Cl. A(a)
2,400
4,154
17

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
China — 18.5% (continued)
Topchoice Medical Corp., Cl. A(a)
280
1,530
TransThera Sciences Nanjing, Inc., Cl. H(a)
500
634
TravelSky Technology Ltd., Cl. H
7,000
7,713
Trina Solar Co. Ltd., Cl. A(a)
845
1,699
Tsingtao Brewery Co. Ltd., Cl. H
4,000
23,771
UBTech Robotics Corp. Ltd., Cl. H(a),(b)
2,000
20,799
Unigroup Guoxin Microelectronics Co. Ltd., Cl. A
79
761
Uni-President China Holdings Ltd.(b)
9,000
8,654
Unisplendour Corp. Ltd., Cl. A
2,000
10,342
United Nova Technology Co. Ltd., Cl. A(a)
4,565
5,277
Venustech Group, Inc., Cl. A(a)
1,400
2,903
Verisilicon Microelectronics Shanghai Co. Ltd., Cl. A(a)
108
3,089
Victory Giant Technology Huizhou Co. Ltd., Cl. A
500
14,109
Vipshop Holdings Ltd., ADR
2,101
32,229
Wangfujing Group Co. Ltd., Cl. A(a)
1,700
2,640
Wanguo Gold Group Ltd.
9,500
12,757
Wanhua Chemical Group Co. Ltd., Cl. A
1,600
17,668
Weibo Corp., ADR(b)
85
693
Weichai Power Co. Ltd., Cl. A
3,300
13,669
Weichai Power Co. Ltd., Cl. H
14,000
58,809
Weihai Guangwei Composites Co. Ltd., Cl. A
1,500
5,760
Weilong Delicious Global Holdings Ltd.
3,800
4,100
Wens Foodstuffs Group Co. Ltd., Cl. A
2,500
5,220
Western Mining Co. Ltd., Cl. A
1,700
9,685
Western Securities Co. Ltd., Cl. A
3,600
3,607
Wintime Energy Co. Ltd., Cl. A(a)
20,500
4,800
Wolong Electric Group Co. Ltd., Cl. A
600
2,818
Wuchan Zhongda Group Co. Ltd., Cl. A
11,200
8,358
Wuhan Guide Infrared Co. Ltd., Cl. A(a)
3,400
6,354
Wuliangye Yibin Co. Ltd., Cl. A
1,600
18,496
WUS Printed Circuit Kunshan Co. Ltd., Cl. A
1,100
16,914
WuXi AppTec Co. Ltd., Cl. A
1,140
21,698
WuXi AppTec Co. Ltd., Cl. H(c)
3,100
63,529
WuXi Biologics Cayman, Inc.(a),(c)
26,500
130,918
Wuxi Lead Intelligent Equipment Co. Ltd., Cl. A
700
3,512
WuXi XDC Cayman, Inc.(a),(b)
2,500
16,514
XCMG Construction Machinery Co. Ltd., Cl. A
5,200
6,905
XD, Inc.(a),(b)
2,200
13,338
Xiamen Tungsten Co. Ltd., Cl. A
600
4,184
Xiaomi Corp., Cl. B(a),(c)
119,400
438,218
Xinjiang Daqo New Energy Co. Ltd., Cl. A(a)
556
1,494
Xinyi Solar Holdings Ltd.
30,591
8,582
XPeng, Inc., Cl. A(a)
9,800
63,237
XtalPi Holdings Ltd.(a),(b)
21,000
18,318
Yadea Group Holdings Ltd.(c)
6,000
8,210
Yangtze Optical Fibre & Cable Joint Stock Ltd. Co., Cl. A
100
4,024
Yangtze Optical Fibre & Cable Joint Stock Ltd. Co., Cl. H(c)
3,000
37,014
Yankuang Energy Group Co. Ltd., Cl. A
2,460
7,361
Yankuang Energy Group Co. Ltd., Cl. H
24,400
36,904
Yantai Jereh Oilfield Services Group Co. Ltd., Cl. A
500
9,981
Yifeng Pharmacy Chain Co. Ltd., Cl. A
1,220
4,110
18


Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
China — 18.5% (continued)
Yihai Kerry Arawana Holdings Co. Ltd., Cl. A
1,700
6,795
Yongan Futures Co. Ltd., Cl. A
700
1,376
Yonghui Superstores Co. Ltd., Cl. A(a)
6,400
3,111
YongXing Special Materials Technology Co. Ltd., Cl. A
330
2,207
Yonyou Network Technology Co. Ltd., Cl. A(a)
3,300
5,419
Youngor Group Co. Ltd., Cl. A
2,700
3,141
YTO Express Group Co. Ltd., Cl. A
1,200
3,354
YUNDA Holding Group Co. Ltd., Cl. A
3,300
3,384
Yunnan Aluminium Co. Ltd., Cl. A
1,400
5,523
Yunnan Baiyao Group Co. Ltd., Cl. A
580
4,544
Yunnan Botanee Bio-Technology Group Co. Ltd., Cl. A
800
4,102
Yunnan Chihong Zinc & Germanium Co. Ltd., Cl. A
4,800
6,509
Yunnan Energy New Material Group Co. Ltd., Cl. A(a)
300
2,338
Yunnan Tin Co. Ltd., Cl. A
1,300
6,570
Yunnan Yuntianhua Co. Ltd., Cl. A
600
2,656
Yutong Bus Co. Ltd., Cl. A
800
3,818
Z.AI Co. Ltd.(a)
1,100
138,524
Zai Lab Ltd.(a)
6,800
12,401
Zangge Mining Co. Ltd., Cl. A
500
5,974
ZCZL Industrial Technology Group Co. Ltd., Cl. H
3,000
5,383
Zhangzhou Pientzehuang Pharmaceutical Co. Ltd., Cl. A
200
4,133
Zhaojin Mining Industry Co. Ltd., Cl. H
11,500
31,091
Zhejiang Century Huatong Group Co. Ltd., Cl. A
3,300
6,622
Zhejiang China Commodities City Group Co. Ltd., Cl. A
2,000
3,794
Zhejiang Chint Electrics Co. Ltd., Cl. A
700
2,616
Zhejiang Dahua Technology Co. Ltd., Cl. A
800
1,982
Zhejiang Expressway Co. Ltd., Cl. H
14,000
12,408
Zhejiang Huahai Pharmaceutical Co. Ltd., Cl. A
1,200
2,974
Zhejiang Huayou Cobalt Co. Ltd., Cl. A
1,350
7,985
Zhejiang Juhua Co. Ltd., Cl. A
1,800
10,542
Zhejiang Leapmotor Technology Co. Ltd., Cl. H(a),(b),(c)
4,100
20,893
Zhejiang Longsheng Group Co. Ltd., Cl. A
2,100
4,133
Zhejiang NHU Co. Ltd., Cl. A
1,380
6,138
Zhejiang Provincial New Energy Investment Group Co. Ltd., Cl. A
3,700
4,025
Zhejiang Sanhua Intelligent Controls Co. Ltd., Cl. A
1,500
8,343
Zhejiang Sanhua Intelligent Controls Co. Ltd., Cl. H
3,400
11,351
Zhejiang Sanmei Chemical Industry Co. Ltd., Cl. A
100
894
Zhejiang Wanfeng Auto Wheel Co. Ltd., Cl. A
1,300
2,046
Zhejiang Weiming Environment Protection Co. Ltd., Cl. A
240
544
Zhejiang Weixing New Building Materials Co. Ltd., Cl. A
600
779
Zhejiang Zheneng Electric Power Co. Ltd., Cl. A
4,300
3,231
Zheshang Securities Co. Ltd., Cl. A
2,500
3,538
ZhongAn Online P&C Insurance Co. Ltd., Cl. H(a),(c)
5,500
7,778
Zhongji Innolight Co. Ltd., Cl. A
440
58,819
Zhongjin Gold Corp. Ltd., Cl. A
2,100
7,161
Zhongsheng Group Holdings Ltd.(a)
4,000
2,311
Zhongtai Securities Co. Ltd., Cl. A
5,700
4,764
Zhuzhou CRRC Times Electric Co. Ltd., Cl. A
939
6,580
Zhuzhou CRRC Times Electric Co. Ltd., Cl. H
2,900
12,448
Zijin Mining Group Co. Ltd., Cl. A
9,300
45,414
Zijin Mining Group Co. Ltd., Cl. H
38,000
161,079
19

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
China — 18.5% (continued)
ZJLD Group, Inc.(c)
2,600
2,643
Zoomlion Heavy Industry Science and Technology Co. Ltd., Cl. A
4,400
4,956
Zoomlion Heavy Industry Science and Technology Co. Ltd., Cl. H
9,400
9,074
ZTE Corp., Cl. A
1,400
7,015
ZTE Corp., Cl. H(b)
6,600
20,924
ZTO Express Cayman, Inc.
2,650
63,127
 
16,479,411
Colombia — .2%
Cementos Argos SA
4,049
14,180
Ecopetrol SA
36,625
31,136
Grupo Argos SA
2,433
13,067
Grupo Cibest SA
1,431
40,666
Grupo de Inversiones Suramericana SA
758
13,240
Grupo Energia Bogota SA ESP
10,283
9,363
Interconexion Electrica SA ESP
2,827
26,863
 
148,515
Cyprus — .0%
Bank of Cyprus Holdings PLC
2,195
25,886
Czechia — .1%
CEZ A/S
1,134
72,951
CSG NV(a)
1,062
20,349
Komercni Banka A/S
546
27,258
 
120,558
Egypt — .1%
Abou Kir Fertilizers & Chemical Industries
2,039
2,910
Abu Dhabi Islamic Bank(a)
4,157
4,295
Commercial International Bank
16,943
46,705
Eastern Co. SAE
10,273
7,311
Talaat Moustafa Group
6,076
11,558
Telecom Egypt Co.
3,575
7,241
 
80,020
Greece — .6%
Alpha Bank SA
13,795
67,709
Athens International Airport SA
398
4,836
Eurobank SA
16,826
86,148
Gek Terna SA
379
19,719
Hellenic Telecommunications Organization SA
1,126
25,936
JUMBO SA
784
21,829
Motor Oil Hellas Corinth Refineries SA
432
25,250
National Bank of Greece SA
5,760
106,697
Piraeus Bank SA(a)
8,136
93,609
Public Power Corp. SA
1,546
39,666
 
491,399
Hong Kong — 2.9%
Alibaba Group Holding Ltd.
125,580
1,873,707
Beijing Enterprises Holdings Ltd.
3,500
14,122
Beijing Enterprises Water Group Ltd.
16,000
4,713
BOC Hong Kong Holdings Ltd.
24,500
163,092
Brilliance China Automotive Holdings Ltd.
28,000
7,320
C&D International Investment Group Ltd.
3,712
7,276
CGN Mining Co. Ltd.
15,000
4,629
20


Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
Hong Kong — 2.9% (continued)
China Everbright Environment Group Ltd.(b)
24,000
15,609
China Medical System Holdings Ltd.
12,000
18,241
China Merchants Port Holdings Co. Ltd.
10,000
19,498
China Overseas Land & Investment Ltd.(b)
29,000
49,963
China Power International Development Ltd.(b)
35,000
12,676
China Resources Beer Holdings Co. Ltd.
10,500
31,681
China Resources Gas Group Ltd.
4,300
9,174
China Resources Land Ltd.
20,000
84,677
China Resources Power Holdings Co. Ltd.(b)
14,000
34,529
China Ruyi Holdings Ltd.(a),(b)
76,000
13,956
China State Construction International Holdings Ltd.
10,000
10,980
China Taiping Insurance Holdings Co. Ltd.
10,800
30,327
Cowell e Holdings, Inc.
1,000
2,627
Far East Horizon Ltd.(b)
15,000
13,161
Guangdong Investment Ltd.
24,000
25,923
Guotai Junan International Holdings Ltd.(b)
19,000
5,040
Kunlun Energy Co. Ltd.
28,000
25,852
NetEase Cloud Music, Inc.(a),(c)
700
11,373
Orient Overseas International Ltd.
1,000
19,524
TCL Electronics Holdings Ltd.
6,000
12,372
Topsports International Holdings Ltd.(c)
13,000
2,255
Want Want China Holdings Ltd.
34,000
14,655
Yuexiu Property Co. Ltd.(b)
14,000
6,463
 
2,545,415
Hungary — .3%
MOL Hungarian Oil & Gas PLC(a)
2,630
37,596
OTP Bank Nyrt
1,508
222,803
Richter Gedeon Nyrt
1,021
38,019
 
298,418
India — 12.1%
360 ONE WAM Ltd.
1,779
21,167
ABB India Ltd.
363
27,713
Abbott India Ltd.
40
11,654
ACC Ltd.
122
1,736
Adani Energy Solutions Ltd.(a)
2,458
42,387
Adani Enterprises Ltd.
1,638
51,664
Adani Green Energy Ltd.(a)
2,190
31,743
Adani Ports & Special Economic Zone Ltd.
4,120
73,254
Adani Power Ltd.(a)
27,430
60,748
Adani Total Gas Ltd.
1,470
10,036
Aditya Birla Capital Ltd.(a)
3,818
16,178
Alkem Laboratories Ltd.
227
13,683
Ambuja Cements Ltd.
4,851
21,973
APL Apollo Tubes Ltd.
1,034
19,718
Apollo Hospitals Enterprise Ltd.
662
62,145
Ashok Leyland Ltd.
19,139
33,334
Asian Paints Ltd.
2,279
65,620
Astral Ltd.
987
14,985
AU Small Finance Bank Ltd.(c)
3,475
38,142
Aurobindo Pharma Ltd.
1,908
31,599
Authum Investment & Infrastucture Ltd.(a)
705
3,985
21

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
India — 12.1% (continued)
Avenue Supermarts Ltd.(a),(c)
1,016
41,752
AWL Agri Business Ltd.
2,319
4,604
Axis Bank Ltd.
16,205
208,815
Bajaj Auto Ltd.
414
49,987
Bajaj Finance Ltd.
18,084
216,292
Bajaj Finserv Ltd.
2,739
58,248
Bajaj Holdings & Investment Ltd.
212
25,203
Bajaj Housing Finance Ltd.(a)
13,137
11,843
Balkrishna Industries Ltd.
619
16,047
Bandhan Bank Ltd.(c)
4,458
8,136
Bank of Baroda
7,233
18,390
Bank of India
5,468
7,906
Bank of Maharashtra
6,153
5,116
Berger Paints India Ltd.
1,524
8,313
Bharat Dynamics Ltd.
675
8,865
Bharat Electronics Ltd.
24,606
100,020
Bharat Forge Ltd.
1,908
43,989
Bharat Heavy Electricals Ltd.
9,610
40,992
Bharat Petroleum Corp. Ltd.
12,631
42,328
Bharti Airtel Ltd.
17,329
358,149
Bharti Hexacom Ltd.
545
9,182
Billionbrains Garage Ventures Ltd.(a),(c)
4,883
9,947
Biocon Ltd.
4,151
18,520
Bosch Ltd.
62
26,697
Britannia Industries Ltd.
733
41,611
BSE Ltd.
1,454
55,563
Canara Bank
13,129
17,197
CG Power and Industrial Solutions Ltd.
4,712
42,638
Cholamandalam Investment and Finance Co. Ltd.
2,967
57,524
Cipla Ltd.
3,795
58,594
Coal India Ltd.
10,897
47,299
Cochin Shipyard Ltd.(c)
526
7,845
Coforge Ltd.
2,217
39,988
Colgate-Palmolive India Ltd.
824
17,929
Container Corp. of India Ltd.
1,491
8,212
Coromandel International Ltd.
672
14,604
Cummins India Ltd.
938
54,256
Dabur India Ltd.
3,873
17,107
Dalmia Bharat Ltd.
519
9,789
Delhivery Ltd.(a)
2,851
14,401
Divi’s Laboratories Ltd.
814
68,727
Dixon Technologies India Ltd.
236
34,749
DLF Ltd.
4,326
29,892
Dr. Reddy’s Laboratories Ltd.
3,862
46,470
Eicher Motors Ltd.
964
79,144
Embassy Office Parks REIT
5,212
23,925
Eternal Ltd.(a)
33,741
106,953
Exide Industries Ltd.
2,711
12,780
Federal Bank Ltd.
12,724
47,854
Fertilisers & Chemicals Travancore Ltd.
525
4,548
Fortis Healthcare Ltd.
3,526
34,922
22


Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
India — 12.1% (continued)
FSN E-Commerce Ventures Ltd.(a)
8,123
28,383
GAIL India Ltd.
14,494
27,562
GE Vernova T&D India Ltd.
875
39,647
General Insurance Corp. of India(c)
545
2,037
Gland Pharma Ltd.(c)
466
12,224
GlaxoSmithKline Pharmaceuticals Ltd.
324
9,017
Glenmark Pharmaceuticals Ltd.
921
21,563
GMR Infrastructure Ltd.(a)
17,367
19,159
Godfrey Phillips India Ltd.
88
1,968
Godrej Consumer Products Ltd.
2,838
31,838
Godrej Properties Ltd.
683
15,073
Grasim Industries Ltd.
2,257
73,348
Gspl Transmission Ltd.(a)
537
834
Gujarat Energy Ltd.
1,696
4,879
Gujarat Fluorochemicals Ltd.
274
12,540
Havells India Ltd.
1,616
21,352
HCL Technologies Ltd.
6,538
92,292
HDB Financial Services Ltd.
1,415
10,179
HDFC Asset Management Co. Ltd.(c)
1,253
34,351
HDFC Bank Ltd.
78,466
615,253
HDFC Life Insurance Co. Ltd.(c)
6,205
35,670
Hero Motocorp Ltd.
829
46,795
Hexaware Technologies Ltd.
740
4,356
Hindalco Industries Ltd.
9,330
95,285
Hindustan Aeronautics Ltd.
1,242
60,483
Hindustan Petroleum Corp. Ltd.
6,105
24,938
Hindustan Unilever Ltd.
5,062
111,479
Hindustan Zinc Ltd.
1,445
8,166
Hitachi Energy India Ltd.
85
28,663
Honeywell Automation India Ltd.
14
5,598
Housing & Urban Development Corp. Ltd.
666
1,362
Hyundai Motor India Ltd.
1,083
24,752
ICICI Bank Ltd.
36,484
548,856
ICICI Lombard General Insurance Co. Ltd.(c)
1,838
31,278
ICICI Prudential Asset Management Co. Ltd.
242
7,903
ICICI Prudential Life Insurance Co. Ltd.(c)
2,800
15,125
IDFC First Bank Ltd.
39,891
35,403
Indian Bank
1,640
14,378
Indian Oil Corp. Ltd.
19,817
29,112
Indian Railway Catering & Tourism Corp. Ltd.
2,375
12,192
Indian Railway Finance Corp. Ltd.(c)
13,345
12,469
Indian Renewable Energy Development Agency Ltd.
3,656
4,582
Indraprastha Gas Ltd.
1,855
2,955
Indus Towers Ltd.(a)
8,979
36,804
IndusInd Bank Ltd.
3,700
39,261
Info Edge India Ltd.
2,224
28,582
Infosys Ltd.
21,785
258,023
InterGlobe Aviation Ltd.(c)
1,506
81,617
ITC Ltd.
20,989
61,813
Jindal Stainless Ltd.
2,207
16,996
Jindal Steel Ltd.
2,658
30,710
23

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
India — 12.1% (continued)
Jio Financial Services Ltd.
20,870
56,095
JK Cement Ltd.
246
14,036
JSW Energy Ltd.
2,820
16,393
JSW Infrastructure Ltd.
1,497
4,901
JSW Steel Ltd.
5,824
77,519
Jubilant Foodworks Ltd.
3,384
15,543
Kalyan Jewellers India Ltd.
2,532
16,256
Kaynes Technology India Ltd.(a)
42
1,675
Knowledge Realty Trust
5,311
6,590
Kotak Mahindra Bank Ltd.
38,242
156,431
KPIT Technologies Ltd.
1,258
7,890
L&T Finance Ltd.
5,444
17,759
L&T Technology Services Ltd.(c)
112
4,173
Larsen & Toubro Ltd.
4,588
189,401
Laurus Labs Ltd.(c)
2,606
49,605
Lenskart Solutions Ltd.(a)
1,700
10,002
LG Electronics India Ltd.(a)
621
9,701
Life Insurance Corp. of India
2,988
13,300
Linde India Ltd.
145
10,250
Lloyds Metals & Energy Ltd.
685
14,696
Lodha Developers Ltd.(c)
2,119
27,626
LTM Ltd.(c)
494
22,584
Lupin Ltd.
1,757
44,470
Mahindra & Mahindra Financial Services Ltd.
3,197
12,925
Mahindra & Mahindra Ltd.
6,198
220,761
MakeMyTrip Ltd.(a),(b)
240
13,668
Mankind Pharma Ltd.
604
15,633
Marico Ltd.
3,399
31,015
Maruti Suzuki India Ltd.
812
121,134
Max Financial Services Ltd.(a)
1,659
26,063
Max Healthcare Institute Ltd.
5,173
59,556
Mazagon Dock Shipbuilders Ltd.
393
9,810
Meesho Ltd.(a)
3,849
7,349
Motilal Oswal Financial Services Ltd.
1,103
9,849
Mphasis Ltd.
642
15,760
MRF Ltd.
12
16,698
Multi Commodity Exchange of India, Ltd.
837
23,617
Muthoot Finance Ltd.
715
23,377
National Aluminium Co. Ltd.
5,934
21,770
Nestle India Ltd.
4,239
67,067
NHPC Ltd.
18,844
15,549
Nippon Life India Asset Management Ltd.(c)
1,077
13,109
NMDC Ltd.
20,669
18,422
NTPC Green Energy Ltd.(a)
5,764
5,439
NTPC Ltd.
29,116
105,964
Oberoi Realty Ltd.
879
16,837
Oil & Natural Gas Corp. Ltd.
18,914
48,076
Oil India Ltd.
3,824
18,380
One 97 Communications Ltd.(a)
2,822
39,721
Oracle Financial Services Software Ltd.
172
20,164
Page Industries Ltd.
37
15,657
24


Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
India — 12.1% (continued)
Patanjali Foods Ltd.
1,982
7,366
PB Fintech Ltd.(a)
2,440
40,954
Persistent Systems Ltd.
744
43,268
Petronet LNG Ltd.
4,673
13,750
PI Industries Ltd.
577
16,637
Pidilite Industries Ltd.
1,733
29,267
Polycab India Ltd.
326
31,114
Power Finance Corp. Ltd.
9,731
43,278
Power Grid Corp. of India Ltd.
31,396
93,532
Premier Energies Ltd.(c)
745
7,981
Prestige Estates Projects Ltd.
1,120
18,971
Procter & Gamble Hygiene & Health Care Ltd.
100
9,007
Punjab National Bank
13,813
16,317
Rail Vikas Nigam Ltd.
3,545
8,377
REC Ltd.
9,278
36,265
Reliance Industries Ltd.
41,048
562,622
Samvardhana Motherson International Ltd.
29,719
46,954
SBI Cards & Payment Services Ltd.
1,297
8,974
SBI Life Insurance Co. Ltd.(c)
2,900
57,201
Schaeffler India Ltd.
281
12,013
Shree Cement Ltd.
57
15,565
Shriram Finance Ltd.
10,067
110,435
Siemens Energy India Ltd.
597
20,215
Siemens Ltd.
641
25,260
SJVN Ltd.
8,527
6,132
Solar Industries India Ltd.
166
31,996
Sona BLW Precision Forgings Ltd.(c)
2,994
24,143
SRF Ltd.
1,092
30,014
State Bank of India
12,459
134,155
Steel Authority of India Ltd.
7,210
12,773
Sun Pharmaceutical Industries Ltd.
6,948
144,946
Sundaram Finance Ltd.
421
20,586
Supreme Industries Ltd.
437
15,871
Suzlon Energy Ltd.(a)
79,089
39,795
Swiggy Ltd.(a)
8,816
26,320
Tata Capital Ltd.
2,456
9,405
Tata Communications Ltd.
845
15,555
Tata Consultancy Services Ltd.
5,971
148,037
Tata Elxsi Ltd.
145
5,582
Tata Global Beverages Ltd.
4,066
46,155
Tata Investment Corp. Ltd.
918
6,537
Tata Motors Ltd.
12,471
57,091
Tata Motors Passenger Vehicles Limited
12,320
43,869
Tata Steel Ltd.
51,270
101,927
Tata Technologies Ltd.
1,737
13,611
Tech Mahindra Ltd.
3,735
64,640
The Indian Hotels Co. Ltd.
6,310
48,842
The Phoenix Mills Ltd.
1,274
25,280
The Tata Power Company Ltd.
11,192
44,655
Thermax Ltd.
92
4,152
Titan Co. Ltd.
2,525
129,014
25

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
India — 12.1% (continued)
Torrent Pharmaceuticals Ltd.
646
34,683
Torrent Power Ltd.
1,235
18,293
Trent Ltd.
1,895
59,699
Tube Investments of India Ltd.
468
13,503
TVS Motor Co. Ltd.
1,639
74,089
UltraTech Cement Ltd.
811
101,172
Union Bank of India Ltd.
10,890
19,544
United Breweries Ltd.
722
10,736
United Spirits Ltd.
2,300
36,541
UNO Minda Ltd.
1,064
13,164
UPL Ltd.
3,816
24,168
Varun Beverages Ltd.
9,815
45,498
Vedanta Aluminium Metal Ltd.(a)
9,660
45,984
Vedanta Ltd.
8,643
23,937
Vedanta Power Ltd.(a)
721
261
Vishal Mega Mart Ltd.(a)
17,421
19,554
Vodafone Idea Ltd.(a)
187,512
25,568
Voltas Ltd.
1,738
24,206
Waaree Energies Ltd.
734
20,618
Wipro Ltd.
17,394
33,479
Yes Bank Ltd.(a)
90,582
21,617
Zydus Lifesciences Ltd.
1,825
21,552
 
10,790,969
Indonesia — .8%
Adaro Andalan Indonesia PT
9,300
4,768
Adaro Minerals Indonesia Tbk PT
53,400
4,496
Alamtri Resources Indonesia Tbk PT
67,700
9,255
Amman Mineral Internasional PT(a)
88,000
20,051
ANTAM Persero Tbk PT
72,500
11,604
Astra International Tbk PT
149,400
42,344
Bank Central Asia Tbk PT
365,400
128,440
Bank Mandiri Persero Tbk PT
239,200
55,699
Bank Negara Indonesia Persero Tbk PT
89,700
17,597
Bank Rakyat Indonesia Persero Tbk PT
443,300
74,893
Barito Pacific Tbk PT
189,444
19,425
Barito Renewables Energy Tbk PT
15,300
2,848
Bumi Resources Minerals Tbk PT(a)
645,000
20,073
Bumi Resources Tbk PT(a)
1,119,200
10,263
Chandra Asri Pacific Tbk PT
7,900
948
Chandra Daya Investasi Tbk PT
93,500
3,404
Charoen Pokphand Indonesia Tbk PT
70,700
12,927
Dian Swastatika Sentosa Tbk PT(a)
213,900
10,104
Ekamas Mora Republik Tbk PT(a)
55,800
19,381
Elang Mahkota Teknologi Tbk PT
116,100
3,420
GoTo Gojek Tokopedia Tbk PT(a)
6,140,400
17,062
Impack Pratama Industri Tbk PT(a)
90,900
7,805
Indofood CBP Sukses Makmur Tbk PT
29,200
11,319
Indofood Sukses Makmur Tbk PT
23,400
9,071
Indosat Tbk PT
38,100
4,023
Kalbe Farma Tbk PT
202,500
8,159
Merdeka Copper Gold Tbk PT
93,900
14,194
26


Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
Indonesia — .8% (continued)
Merdeka Gold Resources Tbk PT(a)
38,100
13,975
Nanshan Aluminium International Holdings Ltd.
1,400
4,853
Pantai Indah Kapuk Dua Tbk PT
20,100
6,982
Petrindo Jaya Kreasi Tbk PT(a)
134,000
4,952
Petrosea Tbk PT(a)
17,800
4,659
Sumber Alfaria Trijaya Tbk PT
143,100
10,537
Telekomunikasi Indonesia Persero Tbk PT
343,100
50,147
Transcoal Pacific Tbk PT
6,900
1,937
Trimegah Bangun Persada Tbk PT
64,000
3,183
Unilever Indonesia Tbk PT
45,200
4,408
United Tractor Tbk PT
11,800
15,706
Vale Indonesia Tbk PT
15,500
4,544
XLSMART Telecom Sejahtera Tbk PT
38,300
5,194
 
674,650
Ireland — .5%
PDD Holdings, Inc., ADR(a)
5,269
466,623
Kuwait — .6%
Al Ahli Bank of Kuwait KSCP
7,192
6,230
Boubyan Bank KSCP
13,078
27,221
Gulf Bank KSCP
19,219
21,865
Kuwait Finance House KSCP
95,976
243,507
Mabanee Co. KPSC
6,866
20,594
Mobile Telecommunications Co. KSCP
11,237
21,682
National Bank of Kuwait SAKP
60,319
167,271
Warba Bank KSCP
20,502
18,488
 
526,858
Luxembourg — .0%
Reinet Investments SCA
1,071
29,055
Malaysia — 1.2%
99 Speed Mart Retail Holdings Bhd
11,300
10,121
AMMB Holdings Bhd
16,000
26,468
Axiata Group Bhd
19,400
9,447
CelcomDigi Bhd
12,400
9,042
CIMB Group Holdings Bhd
54,429
105,089
Dialog Group Bhd
30,700
14,875
Fraser & Neave Holdings Bhd
1,100
7,510
Gamuda Bhd
31,161
32,560
Genting Bhd
13,300
6,900
Genting Malaysia Bhd
24,400
10,449
Hong Leong Bank Bhd
4,700
25,349
IHH Healthcare Bhd
14,200
29,015
IJM Corp. Bhd
20,500
12,040
IOI Corp. Bhd
19,900
21,573
IOI Properties Group Bhd
10,500
9,738
KLCCP Stapled Group
4,200
9,065
KPJ Healthcare Bhd
10,100
7,662
Kuala Lumpur Kepong Bhd
3,200
16,460
Malayan Banking Bhd
41,599
110,958
Maxis Bhd
10,600
9,597
MISC Bhd
13,300
26,004
Mr. DIY Group M Bhd(c)
15,550
6,012
27

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
Malaysia — 1.2% (continued)
Nestle Malaysia Bhd
400
9,896
Petronas Chemicals Group Bhd
15,200
17,780
Petronas Dagangan Bhd
700
3,344
Petronas Gas Bhd
4,500
19,315
PPB Group Bhd
5,300
12,178
Press Metal Aluminium Holdings Bhd
25,800
50,255
Public Bank Bhd
106,600
134,864
QL Resources Bhd
14,500
14,193
RHB Bank Bhd
15,717
32,884
SD Guthrie Bhd
12,700
20,418
Sime Darby Bhd
11,900
6,290
Sime Darby Property Bhd
17,300
5,715
Sunway Bhd
16,100
20,802
Telekom Malaysia Bhd
17,200
32,620
Tenaga Nasional Bhd
17,600
62,880
TIME dotCom Bhd
7,400
10,865
United Plantations Bhd
1,850
15,265
Westports Holdings Bhd
9,942
17,346
YTL Corp. Bhd
29,920
14,204
YTL Power International Bhd
21,440
21,931
 
1,038,979
Mexico — 1.8%
America Movil SAB de CV
110,607
140,248
Arca Continental SAB de CV
2,792
31,833
Cemex SAB de CV
107,139
126,835
Coca-Cola Femsa SAB de CV
3,543
38,378
El Puerto de Liverpool SAB de CV
1,364
8,170
Fibra Uno Administracion SA de CV
19,992
35,962
Fomento Economico Mexicano SAB de CV
12,379
158,355
Gruma SAB de CV, Cl. B
1,315
19,571
Grupo Aeroportuario del Centro Norte SAB de CV
1,776
23,650
Grupo Aeroportuario del Pacifico SAB de CV, Cl. B
2,652
57,569
Grupo Aeroportuario del Sureste SAB de CV, Cl. B
1,213
33,459
Grupo Bimbo SAB de CV
10,315
36,907
Grupo Carso SAB de CV
3,851
32,778
Grupo Comercial Chedraui SA de CV
3,476
18,075
Grupo Financiero Banorte SAB de CV, Cl. O
19,233
221,302
Grupo Financiero Inbursa SAB de CV, Cl. O
13,437
34,564
Grupo Mexico SAB de CV
22,084
265,116
Industrias Penoles SAB de CV
1,340
61,503
Kimberly-Clark de Mexico SAB de CV, Cl. A
12,946
29,988
Prologis Property Mexico SA de CV
7,426
33,179
Promotora y Operadora de Infraestructura SAB de CV
1,523
24,090
Vista Energy SAB de CV, ADR(a)
560
39,452
Wal-Mart de Mexico SAB de CV
30,699
89,105
 
1,560,089
Netherlands — .0%
JBS NV, Cl. A
2,359
33,073
Philippines — .3%
Aboitiz Power Corp.
16,100
11,256
Ayala Corp.
1,190
9,943
28


Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
Philippines — .3% (continued)
Ayala Land, Inc.
23,600
6,515
Bank of the Philippine Islands
15,782
26,424
BDO Unibank, Inc.
15,523
31,568
Globe Telecom, Inc.
255
7,539
International Container Terminal Services, Inc.
5,640
88,718
JG Summit Holdings, Inc.
20,900
7,596
Jollibee Foods Corp.
2,830
6,879
Manila Electric Co.
2,270
17,798
Metropolitan Bank & Trust Co.
16,440
17,643
PLDT, Inc.
835
16,585
SM Investments Corp.
2,625
25,491
SM Prime Holdings, Inc.
55,600
16,620
 
290,575
Qatar — .5%
Al Rayan Bank
30,668
16,762
Dukhan Bank
2,373
2,118
Estithmar Holding QPSC(a)
5,691
6,596
Industries Qatar QSC
14,094
40,799
Mesaieed Petrochemical Holding Co.
66,415
19,955
Nebras Energy
3,178
12,901
Ooredoo QPSC
7,594
26,071
Qatar Fuel QSC
4,652
17,760
Qatar Gas Transport Co. Ltd.
24,327
27,594
Qatar International Islamic Bank QSC
8,101
24,074
Qatar Islamic Bank SAQ
11,194
66,592
Qatar National Bank QPSC
31,484
143,282
The Commercial Bank PSQC
21,653
24,502
 
429,006
Russia — .0%
Alrosa PJSC(a),(d)
11,270
0
Gazprom PJSC(a),(d)
67,050
0
GMK Norilsk Nickel PJSC(a),(d)
34,100
0
LUKOIL PJSC(a),(d)
2,071
0
Magnitogorsk Iron & Steel Works PJSC(a),(d)
5,210
0
Novatek PJSC(a),(d)
5,535
0
Novolipetsk Steel PJSC(a),(d)
6,530
0
PhosAgro PJSC(a),(d)
229
0
PIK Group PJSC(a),(d)
401
0
Polyus PJSC(a),(d)
1,810
0
Rosneft Oil Co. PJSC(a),(d)
13,131
0
Sberbank of Russia PJSC(a),(d)
59,440
0
Severstal PJSC(a),(d)
859
0
Surgutneftegas PJSC(a),(d)
45,300
0
Tatneft PJSC(a),(d)
7,934
0
United Co. RUSAL International PJSC(a),(d)
10,710
0
VTB Bank PJSC(a),(d)
4,246
0
 
0
Saudi Arabia — 2.4%
ACWA Power Co.(a)
1,579
78,876
Ades Holding Co.
3,320
14,710
Al Rajhi Bank
20,172
335,976
29

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
Saudi Arabia — 2.4% (continued)
Alinma Bank
10,631
66,127
Almarai Co. JSC
2,028
25,056
Arab National Bank
6,788
39,222
Arabian Internet & Communications Services Co.
234
13,390
Bank AlBilad
5,421
35,495
Bank Al-Jazira
4,718
15,264
Banque Saudi Fransi
8,543
44,950
Bupa Arabia for Cooperative Insurance Co.
522
21,822
Dar Al Arkan Real Estate Development Co.(a)
3,716
18,197
Dr. Sulaiman Al Habib Medical Services Group Co.
592
37,044
Electrical Industries Co.
3,576
13,474
Elm Co.
212
38,274
Etihad Etisalat Co.
2,635
43,607
Jabal Omar Development Co.(a)
3,791
16,151
Jarir Marketing Co.
4,704
20,818
Makkah Construction & Development Co.
668
14,577
Mouwasat Medical Services Co.
485
8,033
Nahdi Medical Co.
477
12,073
Rabigh Refining & Petrochemical Co.(a)
3,358
13,296
Riyad Bank
12,908
69,911
Riyadh Cables Group Co.
432
11,480
Sahara International Petrochemical Co.
2,509
8,505
SAL Saudi Logistics Services
261
12,023
Saudi Arabian Fertilizer Co.
1,630
53,342
Saudi Arabian Mining Co.(a)
9,685
145,965
Saudi Arabian Oil Co.(c)
39,218
276,526
Saudi Aramco Base Oil Co.
354
11,943
Saudi Awwal Bank
7,336
66,103
Saudi Basic Industries Corp.
5,810
76,734
Saudi Energy Co.
4,551
20,540
Saudi Industrial Investment Group
2,323
7,392
Saudi Tadawul Group Holding Co.
363
11,464
Saudi Telecom Co.
13,361
153,480
The Company for Cooperative Insurance
563
18,379
The Saudi Investment Bank
4,180
15,427
The Saudi National Bank
20,024
209,011
Umm Al Qura for Development & Construction Co.(a)
4,702
20,521
Yanbu National Petrochemical Co.
2,100
17,167
 
2,132,345
Singapore — .2%
BOC Aviation Ltd.(c)
1,600
15,793
Trip.com Group Ltd.(a)
4,350
203,254
 
219,047
South Africa — 2.5%
Absa Group Ltd.
5,251
72,306
Bid Corp. Ltd.
2,374
64,944
Bidvest Group Ltd.
2,374
35,581
Capitec Bank Holdings Ltd.
603
171,745
Clicks Group Ltd.
1,662
22,146
Discovery Ltd.
4,084
64,688
Exxaro Resources Ltd.
1,526
18,784
30


Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
South Africa — 2.5% (continued)
FirstRand Ltd.
34,775
207,332
Gold Fields Ltd.
6,051
196,615
Harmony Gold Mining Co. Ltd.
3,871
60,940
Impala Platinum Holdings Ltd.
5,836
63,320
Investec Ltd.
924
8,008
Kumba Iron Ore Ltd.
520
8,245
MTN Group Ltd.
11,495
142,354
Naspers Ltd., Cl. N
5,228
274,009
Nedbank Group Ltd.
3,072
51,903
Northam Platinum Holdings Ltd.
2,317
33,057
Old Mutual Ltd.
30,509
24,627
OUTsurance Group Ltd.
5,066
25,282
Pepkor Holdings Ltd.(c)
23,273
29,936
Remgro Ltd.
3,716
43,643
Sanlam Ltd.
12,429
65,993
Sasol Ltd.(a)
3,852
45,215
Shoprite Holdings Ltd.
3,355
58,176
Sibanye Stillwater Ltd.
17,593
38,138
Standard Bank Group Ltd.
9,435
187,671
Valterra Platinum Ltd.
1,818
136,176
Vodacom Group Ltd.
4,223
40,834
Woolworths Holdings Ltd./South Africa
5,360
15,214
 
2,206,882
South Korea — 18.7%
ABLBio, Inc.(a)
280
13,119
Alteogen, Inc.
266
57,558
Amorepacific Corp.
204
18,601
APR Corp.
165
37,034
BNK Financial Group, Inc.
2,072
22,047
Celltrion, Inc.
1,129
147,846
CJ CheilJedang Corp.
23
3,088
CJ Corp.
102
9,258
Coway Co. Ltd.
392
25,158
DB HiTek Co. Ltd.
266
15,504
DB Insurance Co. Ltd.
292
32,155
Doosan Bobcat, Inc.
395
16,568
Doosan Co. Ltd.
48
39,391
Doosan Enerbility Co. Ltd.(a)
2,965
139,547
Doosan Robotics, Inc.(a)
148
6,395
Ecopro BM Co. Ltd.
318
23,085
Ecopro Co. Ltd.
704
39,059
Ecopro Materials Co. Ltd.(a)
242
5,466
GS Holdings Corp.
345
21,537
Hana Financial Group, Inc.
1,825
160,521
Hanjin Kal Corp.
199
15,591
Hankook Tire & Technology Co. Ltd.
520
24,656
Hanmi Pharm Co. Ltd.
42
9,825
Hanmi Semiconductor Co. Ltd.
307
46,189
Hanwha Aerospace Co. Ltd.
235
151,150
Hanwha Corp.
210
12,343
Hanwha Ocean Co. Ltd.(a)
771
46,075
31

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
South Korea — 18.7% (continued)
Hanwha Solutions Corp.(a)
853
15,257
Hanwha Systems Co. Ltd.
439
19,245
HD Hyundai Co. Ltd.
298
41,720
HD Hyundai Electric Co. Ltd.
147
70,525
HD Hyundai Heavy Industries Co. Ltd.
225
75,910
HD Hyundai Marine Solution Co. Ltd.
96
12,390
HD Korea Shipbuilding & Offshore Engineering Co. Ltd.
318
85,762
HLB Co. Ltd.(a)
835
17,922
HMM Co. Ltd.
1,622
23,835
HYBE Co. Ltd.
147
17,405
Hyosung Heavy Industries Corp.
36
61,031
Hyundai Autoever Corp.
57
14,573
Hyundai Engineering & Construction Co. Ltd.
544
36,096
Hyundai Glovis Co. Ltd.
252
35,351
Hyundai Mobis Co. Ltd.
421
140,560
Hyundai Motor Co.
992
269,970
Hyundai Rotem Co. Ltd.
513
48,108
Hyundai Steel Co.
583
10,775
Industrial Bank of Korea
1,448
20,973
Kakao Corp.
1,934
50,734
KakaoBank Corp.
1,368
21,206
Kakaopay Corp.(a)
304
9,084
KB Financial Group, Inc.
2,390
282,468
KCC Corp.
28
7,620
KEPCO Engineering & Construction Co. Inc.
153
9,551
Kia Corp.
1,636
151,356
KIWOOM Securities Co. Ltd.
104
21,410
Korea Aerospace Industries Ltd.
491
43,841
Korea Electric Power Corp.
1,627
39,714
Korea Investment Holdings Co. Ltd.
288
41,714
Korea Zinc Co. Ltd.
58
40,641
Korean Air Lines Co. Ltd.
1,148
20,855
Krafton, Inc.
214
36,475
KT Corp.
445
16,199
KT&G Corp.
685
86,051
L&F Co. Ltd.(a)
202
10,385
LG Chem Ltd.
305
55,194
LG CNS Co. Ltd.
261
11,442
LG Corp.
615
43,611
LG Display Co. Ltd.(a)
2,022
13,062
LG Electronics, Inc.
780
88,685
LG Energy Solution Ltd.(a)
265
60,967
LG H&H Co. Ltd.
48
9,663
LG Innotek Co. Ltd.
107
38,576
LG Uplus Corp.
543
5,629
LIG Defense & Aerospace Co. Ltd.
87
42,655
LigaChem Biosciences, Inc.(a)
182
11,170
Lotte Chemical Corp.
106
4,201
LS Corp.
127
23,784
LS Electric Co. Ltd.
526
68,180
Meritz Financial Group, Inc.(a)
513
44,618
32


Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
South Korea — 18.7% (continued)
Mirae Asset Daewoo Co. Ltd.
1,438
34,848
NAVER Corp.
901
131,450
NC Corp.
88
14,474
Netmarble Corp.(c)
61
1,639
NH Investment & Securities Co. Ltd.
822
16,432
Orion Corp.
132
12,203
Peptron, Inc.(a)
146
13,087
POSCO Future M Co. Ltd.
248
23,953
POSCO Holdings, Inc.
487
106,746
POSCO ICT Co. Ltd.
416
5,620
POSCO International Corp.
282
10,325
Rainbow Robotics(a)
60
18,223
Sam Chun Dang Pharm Co. Ltd.
103
10,808
Samsung Biologics Co. Ltd.(a),(c)
83
86,452
Samsung C&T Corp.
572
141,024
Samsung Card Co. Ltd.
125
4,121
Samsung Electro-Mechanics Co. Ltd.
384
307,588
Samsung Electronics Co. Ltd.
32,320
5,950,761
Samsung Engineering Co. Ltd.
1,208
37,112
Samsung Episholdings Co. Ltd.(a)
47
12,362
Samsung Fire & Marine Insurance Co. Ltd.
211
93,534
Samsung Heavy Industries Co. Ltd.(a)
4,545
68,062
Samsung Life Insurance Co. Ltd.
536
117,110
Samsung SDI Co. Ltd.(a)
443
123,358
Samsung SDS Co. Ltd.
273
39,446
Samsung Securities Co. Ltd.
396
27,720
Samyang Foods Co. Ltd.
28
22,939
Shinhan Financial Group Co. Ltd.
3,059
216,063
SK Biopharmaceuticals Co. Ltd.(a)
223
12,357
SK hynix, Inc.
3,926
4,730,917
SK Innovation Co. Ltd.(a)
478
37,048
SK Square Co. Ltd.
604
439,750
SK Telecom Co. Ltd.
622
35,513
SK, Inc.
246
96,109
SKC Co. Ltd.(a)
173
8,761
S-Oil Corp.
287
25,626
Woori Financial Group, Inc.
4,148
97,757
Yuhan Corp.
395
20,364
 
16,718,577
Switzerland — .0%
Allwyn AG
1,338
20,536
Taiwan — 25.4%
Accton Technology Corp.
3,000
197,252
Advantech Co. Ltd.
2,928
51,006
Airtac International Group
1,046
42,883
Alchip Technologies Ltd.
500
47,341
ASE Technology Holding Co. Ltd.
26,000
446,487
Asia Cement Corp.
5,000
5,105
Asia Vital Components Co. Ltd.
2,000
143,569
ASPEED Technology, Inc.
220
98,874
Asustek Computer, Inc.
4,000
100,251
33

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
Taiwan — 25.4% (continued)
AUO Corp.
44,600
33,396
Bizlink Holding, Inc.
1,000
64,977
Caliway Biopharmaceuticals Co. Ltd.(a)
8,000
25,496
Catcher Technology Co. Ltd.
3,000
16,987
Cathay Financial Holding Co. Ltd.
63,836
200,481
Chailease Holding Co. Ltd.
8,432
29,090
Chang Hwa Commercial Bank Ltd.
37,197
29,003
Cheng Shin Rubber Industry Co. Ltd.
5,000
4,711
Chicony Electronics Co. Ltd.
3,000
9,839
China Airlines Ltd.
22,000
15,248
China Steel Corp.
84,000
49,253
Chroma ATE, Inc.
3,000
194,932
Chunghwa Telecom Co. Ltd.
26,000
112,225
Compal Electronics, Inc.
28,000
31,189
Compeq Manufacturing Co. Ltd.
6,169
32,258
CTBC Financial Holding Co. Ltd.
111,000
222,900
Delta Electronics, Inc.
14,000
710,418
E Ink Holdings, Inc.
6,000
35,088
E.Sun Financial Holding Co. Ltd.
99,449
118,930
Eclat Textile Co. Ltd.
1,000
10,706
Elite Material Co. Ltd.
2,000
293,635
Eva Airways Corp.
18,000
24,116
Evergreen Marine Corp. Taiwan Ltd.
7,600
47,972
Far Eastern New Century Corp.
6,000
5,040
Far EasTone Telecommunications Co. Ltd.
13,000
42,235
First Financial Holding Co. Ltd.
71,459
81,256
FIT Hon Teng Ltd.(a),(c)
13,000
7,792
Formosa Chemicals & Fibre Corp.
23,000
40,849
Formosa Petrochemical Corp.
11,000
24,097
Formosa Plastics Corp.
31,000
52,755
Fortune Electric Co. Ltd.
1,320
28,794
Fubon Financial Holding Co. Ltd.
54,051
217,415
Gigabyte Technology Co. Ltd.
4,000
41,647
Global Unichip Corp.
500
58,866
Globalwafers Co. Ltd.
2,000
52,910
Gold Circuit Electronics Ltd.
2,000
49,073
Hon Hai Precision Industry Co. Ltd.
84,000
651,072
Hon Precision, Inc.
511
97,713
Hotai Motor Co. Ltd.
2,120
36,603
Hua Nan Financial Holdings Co. Ltd.
62,631
84,686
Innolux Corp.
55,760
78,501
International Games System Co. Ltd.
1,700
40,818
Inventec Corp.
17,000
32,507
Jentech Precision Industrial Co. Ltd.
1,000
106,594
KGI Financial Holding Co. Ltd.
115,050
109,821
King Slide Works Co. Ltd.
500
121,446
King Yuan Electronics Co. Ltd.
8,400
58,090
Largan Precision Co. Ltd.
752
93,887
Lite-On Technology Corp.
15,000
97,002
Lotes Co. Ltd.
1,000
57,397
MediaTek, Inc.
10,800
1,187,970
34


Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
Taiwan — 25.4% (continued)
Mega Financial Holding Co. Ltd.
82,945
136,278
Minth Group Ltd.
6,300
22,222
MPI Corp.
500
81,686
Nan Ya Plastics Corp.
40,000
197,407
Nan Ya Printed Circuit Board Corp.
1,000
28,466
Nanya Technology Corp.
8,000
89,235
Nien Made Enterprise Co. Ltd.
1,000
11,789
Novatek Microelectronics Corp.
4,000
64,235
Pegatron Corp.
15,000
39,172
PharmaEssentia Corp.
1,352
44,343
Phison Electronics Corp.
1,000
50,744
Pou Chen Corp.
16,000
11,857
Powerchip Semiconductor Manufacturing Corp.(a)
23,000
38,785
Powertech Technology, Inc.
5,000
36,434
President Chain Store Corp.
1,000
6,931
Quanta Computer, Inc.
18,000
162,350
Realtek Semiconductor Corp.
3,000
63,399
Shihlin Electric & Engineering Corp.
2,000
12,067
SinoPac Financial Holdings Co. Ltd.
92,633
116,368
Synnex Technology International Corp.
9,000
26,093
TA Chen Stainless Pipe
17,617
23,548
Taichung Commercial Bank Co. Ltd.
25,831
16,385
Taiwan Business Bank
46,576
26,229
Taiwan Cooperative Financial Holding Co. Ltd.
64,401
54,998
Taiwan High Speed Rail Corp.
5,000
4,030
Taiwan Mobile Co. Ltd.
13,000
45,252
Taiwan Semiconductor Manufacturing Co. Ltd.
166,000
12,455,521
TCC Group Holdings Co. Ltd.
47,117
35,426
Teco Electric and Machinery Co. Ltd.
13,000
26,065
The Shanghai Commercial & Savings Bank Ltd.
24,922
35,048
Tripod Technology Corp.
4,000
45,670
TS Financial Holding Co. Ltd.
156,502
174,085
Unimicron Technology Corp.
8,180
199,191
Uni-President Enterprises Corp.
33,000
75,355
United Microelectronics Corp.
82,000
307,002
Vanguard International Semiconductor Corp.
7,006
32,842
VisEra Technologies Co. Ltd.
1,000
13,104
Walsin Lihwa Corp.
23,968
23,324
Wan Hai Lines Ltd.
8,000
20,966
Winbond Electronics Corp.
23,000
92,515
Wistron Corp.
21,000
114,360
Wiwynn Corp.
824
137,423
WPG Holdings Ltd.
12,000
41,771
WT Microelectronics Co. Ltd.
5,593
34,005
Yageo Corp.
11,940
185,460
Yang Ming Marine Transport Corp.
13,000
20,434
Yuanta Financial Holding Co. Ltd.
67,935
143,147
Zhen Ding Technology Holding Ltd.
5,000
63,972
 
22,689,443
Thailand — 1.4%
Advanced Info Service PCL, NVDR
7,900
89,900
35

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
Thailand — 1.4% (continued)
Airports of Thailand PCL, NVDR
28,600
54,601
Asset World Corp. PCL, NVDR
115,900
10,274
Bangkok Dusit Medical Services PCL, NVDR
78,700
45,251
Bangkok Expressway & Metro PCL, NVDR
70,000
14,150
Banpu PCL, NVDR
56,500
9,814
Bumrungrad Hospital PCL, NVDR
4,100
23,022
Cal-Comp Electronics Thailand PCL, NVDR
24,700
6,139
Central Pattana PCL, NVDR
22,500
46,492
Central Retail Corp. PCL, NVDR
24,600
19,707
Charoen Pokphand Foods PCL, NVDR
22,100
14,891
Com7 PCL, NVDR
6,700
6,120
CP ALL PCL, NVDR
22,000
31,624
CP Axtra PCL, NVDR
2,747
1,226
Delta Electronics Thailand PCL, NVDR
32,700
272,235
Electricity Generating PCL, NVDR
2,600
10,472
Global Power Synergy PCL, NVDR
3,300
5,114
Gulf Development PCL, NVDR
27,916
55,803
Home Product Center PCL, NVDR
49,400
9,616
Indorama Ventures PCL, NVDR
12,300
8,140
Kasikornbank PCL, NVDR
4,300
31,420
Krung Thai Bank PCL, NVDR
30,300
40,152
Krungthai Card PCL, NVDR
5,700
6,529
Minor International PCL, NVDR
27,200
19,223
Muangthai Capital PCL, NVDR
1,100
1,128
PTT Exploration & Production PCL, NVDR
8,400
37,481
PTT Global Chemical PCL, NVDR
18,500
20,360
PTT Oil & Retail Business PCL, NVDR
10,200
3,910
PTT PCL, NVDR
91,300
105,265
RATCH Group PCL, NVDR
11,300
13,028
SCB X PCL, NVDR
6,700
30,698
SCG Packaging PCL, NVDR
8,700
7,946
Thai Airways International PCL, NVDR
82,700
13,869
Thai Beverage PCL
59,700
21,391
Thai Life Insurance PCL, NVDR
16,400
5,746
Thai Oil PCL, NVDR
7,200
14,123
Thai Union Group PCL, NVDR
20,700
7,563
The Siam Cement PCL, NVDR
5,500
41,836
TISCO Financial Group PCL, NVDR
3,500
13,469
TMBThanachart Bank PCL, NVDR
192,700
17,659
True Corp. PCL, NVDR
69,800
30,100
 
1,217,487
Turkey — .7%
AG Anadolu Grubu Holding A/S
1,847
1,380
Ahlatci Dogal Gaz Dagitim Enerji ve Yatirim A/S(a)
6,061
4,267
Akbank TAS
19,715
26,301
Akcansa Cimento A/S
445
2,219
Akfen Yenilenebilir Enerji A/S(a)
2,382
1,197
Aksa Akrilik Kimya Sanayii A/S
12,328
3,372
Aksa Enerji Uretim A/S(a)
2,702
5,353
Alfa Solar Enerji Sanayi ve Ticaret A/S
648
560
Altinkilic Gida VE Sut Sanayi Ticaret A/S
484
4,038
36


Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
Turkey — .7% (continued)
Anadolu Anonim Turk Sigorta Sirketi
5,610
3,211
Anadolu Efes Biracilik ve Malt Sanayii A/S
13,890
6,395
Arcelik A/S(a)
2,146
4,391
Aselsan Elektronik Sanayi ve Ticaret A/S
8,240
59,340
Astor Transformator Enerji Turizm Insaat Ve Petrol Sanayi Ticaret A/S
3,216
19,997
Aygaz A/S
373
2,078
Baticim Bati Anadolu Sanayi ve Ticaret Anonim Sirketi(a)
16,647
1,716
BIM Birlesik Magazalar A/S
6,087
49,984
Borusan Yatirim ve Pazarlama A/S
36
1,295
Can2 Termik A/S(a)
27,596
697
Cimsa Cimento Sanayi ve Ticaret A/S
646
610
Coca-Cola Icecek A/S
6,341
12,148
CVK Maden Isletmeleri Sanayi VE Ticaret A/S(a)
4,733
3,767
CW Enerji Muhendislik Ticaret ve Sanayi A/S(a)
2,231
1,596
DAP Gayrimenkul Gelistirme A/S(a)
7,775
1,422
Destek Finans Faktoring A/S(a),(b)
660
23,650
Dogan Sirketler Grubu Holding A/S
8,022
3,531
Dogus Otomotiv Servis ve Ticaret
1,281
5,132
Eczacibasi Yatirim Holding Ortakligi A/S
266
1,766
Emlak Konut Gayrimenkul Yatirim Ortakligi A/S
11,317
4,265
Enerjisa Enerji A/S(c)
2,131
4,883
Enerya Enerji A/S
17,045
3,303
Enka Insaat ve Sanayi A/S
4,842
8,925
Eregli Demir ve Celik Fabrikalari TAS
23,860
21,357
Europower Enerji ve Otomasyon Teknolojileri Sanayi Ticaret A/S(a)
1,499
2,684
Ford Otomotiv Sanayi A/S(b)
5,224
8,805
Girisim Elektrik Taahhut Ticaret ve Sanayi A/S(a)
1,112
1,749
Gubre Fabrikalari TAS(a)
606
5,081
Haci Omer Sabanci Holding A/S
8,362
14,868
Hedef Holdings A/S(a)
1,664
10,656
Hektas Ticaret TAS(a),(b)
28,515
1,746
Investco Holding A/S(a)
294
4,429
Is Yatirim Menkul Degerler A/S
3,539
2,572
Kardemir Karabuk Demir Celik Sanayi ve Ticaret A/S, Cl. D(a)
8,129
7,047
Katilimevim Tasarruf Finansman A/S
2,916
9,547
Kayseri Seker Fabrikasi A/S(a)
50,671
4,158
Kiler Holding A/S(a)
2,355
3,632
Koc Holding A/S
4,845
20,073
Kuyumcukent Gayrimenkul Yatirimlari A/S(a)
3,014
4,496
LDR Turizm A/S(a)
1,984
4,064
Mavi Giyim Sanayi ve Ticaret A/S, Cl. B(c)
5,233
4,308
MIA Teknoloji A/S(a)
1,795
1,164
Migros Ticaret A/S
760
10,003
MLP Saglik Hizmetleri A/S(a),(c)
642
5,471
Odine Solutions Teknoloji Ticaret VE Sanayi A/S(a)
212
11,152
Otokar Otomotiv ve Savunma Sanayi A/S(a)
295
1,893
Oyak Cimento Fabrikalari A/S
2,358
1,007
Pasifik Eurasia Lojistik Dis Ticaret A/S(a)
1,336
4,357
Pegasus Hava Tasimaciligi A/S(a)
1,747
5,626
Peker Gayrimenkul Yatirim Ortakligi A/S(a)
29,248
9,065
Petkim Petrokimya Holding A/S(a)
8,507
3,423
37

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
Turkey — .7% (continued)
Ral Yatirim Holding A/S(a)
645
3,278
Ronesans Gayrimenkul Yatirim A/S
871
3,673
Sasa Polyester Sanayi A/S(a)
131,536
6,836
Smart Gunes Enerjisi Teknolojileri ArGE Uretim Sanayi ve Ticaret A/S(a)
4,638
1,044
Sok Marketler Ticaret A/S(a)
3,241
3,478
TAB Gida Sanayi Ve Ticaret A/S
1,124
5,750
TAV Havalimanlari Holding A/S
997
5,701
Tekfen Holding A/S
734
2,386
Tera Yatirim Menkul Degerler A/S(a)
1,526
5,780
Tera Yatirim Teknoloji Holding A/S(a)
6,372
6,436
TOFAS Turk Otomobil Fabrikasi A/S
1,105
6,336
Torunlar Gayrimenkul Yatirim Ortakligi A/S
2,115
4,172
TR Anadolu Metal Madencilik Isletmeleri A/S(a)
1,534
4,019
Turk Altin Isletmeleri A/S(a)
7,723
7,176
Turk Hava Yollari
4,122
27,234
Turk Telekomunikasyon A/S(a)
285
306
Turk Traktor ve Ziraat Makineleri A/S(a)
404
3,504
Turkcell Iletisim Hizmetleri A/S
6,500
13,670
Turkiye Halk Bankasi A/S(a)
6,424
5,061
Turkiye Is Bankasi A/S, Cl. C
50,371
13,217
Turkiye Petrol Rafinerileri A/S
6,195
38,487
Turkiye Sigorta A/S
33,352
4,414
Turkiye Sinai Kalkinma Bankasi A/S
11,657
2,683
Turkiye Sise ve Cam Fabrikalari A/S
13,113
11,517
Ufuk Yatirim Yonetim ve Gayrimenkul A/S(a)
123
4,597
Ulker Biskuvi Sanayi A/S
1,184
2,150
Yapi ve Kredi Bankasi A/S(a)
23,202
15,994
YEO Teknoloji Enerji ve Endustri A/S(a)
2
1
 
666,122
United Arab Emirates — 1.9%
Abu Dhabi Commercial Bank PJSC
21,819
89,110
Abu Dhabi Islamic Bank PJSC
9,641
55,702
Abu Dhabi National Energy Co. PJSC
14,934
10,816
Abu Dhabi National Oil Co. for Distribution PJSC
21,498
23,413
ADNOC Drilling Co. PJSC
19,520
30,932
ADNOC Gas
46,233
41,540
Aldar Properties PJSC
25,558
51,703
Alpha Dhabi Holding PJSC
10,636
21,198
Borouge PLC
15,353
10,032
Dubai Electricity & Water Authority PJSC
59,019
44,030
Dubai Islamic Bank PJSC
20,370
40,321
Emaar Development PJSC
5,375
18,966
Emaar Properties PJSC
43,456
130,150
Emirates NBD Bank PJSC
16,884
138,831
Emirates Telecommunications Group Co. PJSC
24,767
137,295
First Abu Dhabi Bank PJSC
30,034
158,642
International Holding Co. PJSC(a)
5,919
615,622
Modon Holding PSC(a)
23,370
18,135
Two Point Zero Group PJSC(a)
23,025
12,538
 
1,648,976
38


Description
 
 
 
Shares
Value ($)
Equity Securities - Common Stocks — 97.2% (continued)
United States — .2%
BeOne Medicines Ltd., Cl. H(a)
6,800
168,231
Total Equity Securities - Common Stocks
(cost $56,538,103)
86,770,416
 
 
 
Preferred
Dividend
Rate (%)
 
 
 
Equity Securities - Preferred Stocks — 2.2%
Brazil — 1.1%
Axia Energia SA(a)
0.00
4,233
43,583
Banco Bradesco SA
1.56
34,012
123,780
Cia Energetica de Minas Gerais
1.14
11,255
25,032
Gerdau SA
0.68
9,480
46,834
Itau Unibanco Holding SA
3.45
37,491
317,526
Itausa SA
1.31
41,070
112,120
Petroleo Brasileiro SA
3.00
30,099
257,290
 
926,165
Chile — .1%
Sociedad Quimica y Minera de Chile SA, Cl. B
1.03
993
67,057
Colombia — .1%
Grupo Argos SA
5.21
1,457
5,964
Grupo Aval Acciones y Valores SA
3.56
28,728
7,706
Grupo Cibest SA
3.17
3,375
79,908
Grupo de Inversiones Suramericana SA
3.96
1,042
14,802
 
108,380
Russia — .0%
Sberbank of Russia PJSC(a),(d)
0.00
4,890
0
Surgutneftegas PJSC(a),(d)
0.00
37,000
0
Tatneft PJSC(a),(d)
0.00
266
0
 
0
South Korea — .9%
Hyundai Motor Co.
5.04
224
31,580
Hyundai Motor Co.
5.09
140
19,600
LG Chem Ltd.
1.60
86
7,154
Samsung Electronics Co. Ltd.
0.62
5,587
748,487
Samsung Fire & Marine Insurance Co. Ltd.
4.85
27
7,253
 
814,074
Total Equity Securities - Preferred Stocks
(cost $906,158)
1,915,676
 
 
 
1-Day
Yield (%)
 
 
 
Investment Companies — 1.4%
Registered Investment Companies — 1.4%
BNY Dreyfus Institutional Preferred Government Money Market Fund, Institutional
Shares(e)
(cost $1,259,723)
3.64
1,259,723
1,259,723
39

SCHEDULE OF INVESTMENTS (Unaudited) (continued)

Description
 
1-Day
Yield (%)
 
Shares
Value ($)
Investment of Cash Collateral for Securities Loaned — .1%
Registered Investment Companies — .1%
BNY Dreyfus Institutional Preferred Government Money Market Fund, Institutional
Shares(e)
(cost $107,023)
3.64
107,023
107,023
Total Investments (cost $58,811,007)
100.9
%
90,052,838
Liabilities, Less Cash and Receivables
(.9
%)
(809,262
)
Net Assets
100.0
%
89,243,576
 
ADR—American Depositary Receipt
NVDR—Non-Voting Depositary Receipt
REIT—Real Estate Investment Trust
 
(a)
Non-income producing security.
(b)
Security, or portion thereof, on loan. At July 31, 2026, the value of the fund’s securities on loan was $502,145 and the value of the collateral was $530,525,
consisting of cash collateral of $107,023 and U.S. Government & Agency securities valued at $423,502.  In addition, the value of collateral may include
pending sales that are also on loan.
(c)
Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933. These securities may be resold in transactions exempt from
registration, normally to qualified institutional buyers. At July 31, 2026, these securities amounted to $3,353,403 or 3.8% of net assets.
(d)
The fund held Level 3 securities at July 31, 2026. These securities were valued at $0 or .0% of net assets.
(e)
Investment in affiliated issuer. The investment objective of this investment company is publicly available and can be found within the investment company’s
prospectus.
 
Futures
Description
Number of
Contracts
Expiration
Notional
Value ($)
Market
Value ($)
Unrealized
(Depreciation) ($)
Futures Long
MSCI Emerging Markets Index
8
9/18/2026
683,040
656,920
(26,120)
Gross Unrealized Depreciation
 
 
(26,120)
See notes to schedule of investments.
40

Schedule of Investments
BNY Mellon Emerging Markets Equity ETF
July 31, 2026 (Unaudited)
The following is a summary of the inputs used as of July 31, 2026 in valuing the fund’s investments: 
 
Level 1 -
Unadjusted
Quoted Prices
Level 2- Other
Significant
Observable Inputs
Level 3-
Significant
Unobservable
Inputs
Total
 
Assets ($)
Investments in Securities:†
Equity Securities - Common Stocks
86,770,416
—
0
86,770,416
Equity Securities - Preferred Stocks
1,915,676
—
0
1,915,676
Investment Companies
1,366,746
—
—
1,366,746
 
90,052,838
—
0
90,052,838
Other Financial Instruments:
Futures††
(26,120)
—
—
(26,120)
 
(26,120)
—
—
(26,120)
 
†
See Schedule of Investments for additional detailed categorizations, if any.
††
Amount shown represents unrealized appreciation (depreciation) at period end.
41

The Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) is the exclusive reference of authoritative U.S. generally accepted accounting principles (“GAAP”) recognized by the FASB to be applied by nongovernmental entities. Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) under authority of federal laws are also sources of authoritative GAAP for SEC registrants. The fund is an investment company and applies the accounting and reporting guidance of the FASB ASC Topic 946 Financial Services-Investment Companies. The fund’s financial statements are prepared in accordance with GAAP, which may require the use of management estimates and assumptions. Actual results could differ from those estimates.
The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (i.e., the exit price). GAAP establishes a fair value hierarchy that prioritizes the inputs of valuation techniques used to measure fair value. This hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements).
Additionally, GAAP provides guidance on determining whether the volume and activity in a market has decreased significantly and whether such a decrease in activity results in transactions that are not orderly. GAAP requires enhanced disclosures around valuation inputs and techniques used during annual and interim periods.
Various inputs are used in determining the value of the fund’s investments relating to fair value measurements. These inputs are summarized in the three broad levels listed below:
Level 1—unadjusted quoted prices in active markets for identical investments.
Level 2—other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.).
Level 3—significant unobservable inputs (including the fund’s own assumptions in determining the fair value of investments).
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
Changes in valuation techniques may result in transfers in or out of an assigned level within the disclosure hierarchy. Valuation techniques used to value the fund’s investments are as follows:
BNY Mellon ETF Trust’s (the “Trust”) Board of Trustees (the “Board”) has designated the Adviser as the fund’s valuation designee to make all fair value determinations with respect to the fund’s portfolio of investments, subject to the Board’s oversight.
The fund’s equity investments, including shares of REITs and ETFs, if any, (but not including investments in other open-end registered investment companies), generally are valued at the last sales price on the day of valuation of the securities exchange or national securities market on which such securities are primarily traded. Securities listed on the National Association of Securities Dealers Automated Quotation System (“NASDAQ”) markets generally will be valued at the official closing price. If there are no transactions in a security, or no official closing prices for a NASDAQ market-listed security on that day, the security will be valued at the average of the most recent bid and asked prices. Bid price is used when no asked price is available. Open short positions for which there is no sale price on a given day are valued at the lowest asked price. Investments in other open-end investment companies are valued at their reported NAVs each day. All of the preceding securities are generally categorized within Level 1 of the fair value hierarchy.
Restricted securities, as well as securities or other assets for which recent market quotations are not readily available or are determined not to reflect fair value accurately, are valued at fair value as determined in good faith based on procedures approved by the Board. Fair value of investments may be determined by the valuation designee using such information as it deems appropriate under the circumstances. The factors that may be considered when fair valuing a security include fundamental analytical data, the nature and duration of restrictions on disposition, an evaluation of the forces that influence the market in which the securities are purchased and sold, and public trading in similar securities of the issuer or comparable issuers. Using fair value to price investments may result in a value that is different from a security’s most recent closing price and from the prices used by other funds to calculate their NAVs. These securities are either categorized within Level 2 or 3 of the fair value hierarchy depending on the relevant inputs used.
Market quotations of foreign securities in foreign currencies and any fund assets or liabilities initially expressed in terms of foreign currency are translated into U.S. dollars at the spot rate.
Futures contracts will be valued at the most recent settlement price and are generally categorized within Level 1 of the fair value hierarchy.
42

Pursuant to a securities lending agreement with BNY, the fund may lend securities to qualified institutions. It is the fund’s policy that, at origination, all loans are secured by collateral of at least 102% of the value of U.S. securities loaned and 105% of the value of foreign securities loaned. Collateral equivalent to at least 100% of the market value of securities on loan is maintained at all times. Collateral is either in the form of cash, which can be invested in certain money market mutual funds managed by the Adviser, or U.S. Government and Agency securities. The securities on loan, if any, are also disclosed in the fund’s Schedule of Investments. The fund is entitled to receive all dividends, interest and distributions on securities loaned, in addition to income earned as a result of the lending transaction. Should a borrower fail to return the securities in a timely manner, BNY is required to replace the securities for the benefit of the fund or credit the fund with the market value of the unreturned securities and is subrogated to the fund’s rights against the borrower and the collateral. Additionally, the contractual maturity of security lending transactions are on an overnight and continuous basis.
Derivatives: A derivative is a financial instrument whose performance is derived from the performance of another asset. Each type of derivative instrument that was held by the fund at July 31, 2026 is discussed below.
Futures: In the normal course of pursuing its investment objective, the fund is exposed to market risk, including , as a result of changes in value of underlying financial instruments. The fund invests in futures in order to manage its exposure to or protect against changes in the market. A futures contract represents a commitment for the future purchase or a sale of an asset at a specified date. Upon entering into such contracts, these investments require initial margin deposits with a counterparty, which consist of cash or cash equivalents. The amount of these deposits is determined by the exchange or Board of  Trade on which the contract is traded and is subject to change. Accordingly, variation margin payments are received or made to reflect daily unrealized gains or losses which are recorded in the Statement of Operations. When the contracts are closed, the fund recognizes a realized gain or loss which is reflected in the Statement of Operations. There is minimal counterparty credit risk to the fund with futures since they are exchange traded, and the exchange guarantees the futures against default. Futures open at July 31, 2026 are set forth in the fund’s Schedule of Investments.
At July 31, 2026, accumulated net unrealized appreciation on investments inclusive of derivative contracts was $31,215,711, consisting of $36,407,649 gross unrealized appreciation and $5,191,938 gross unrealized depreciation.
At July 31, 2026, the cost of investments for federal income tax purposes was substantially the same as the cost for financial reporting purposes (see the Schedule of Investments).
Additional investment related disclosures are hereby incorporated by reference to the annual and semi-annual reports previously filed with the SEC on Form N-CSR.
43